Mandate Overview09 Jul 2014
Maximise interest income, preserve the fund's capital and provide immediate liquidity by investing in money market instruments with a residual maturity of less than 13 months.
Mandate Universe09 Jul 2014
"Securities"and "financial instruments"as defined in Chapter 1 o FSB Board Notice 80 of 2012 under the Collective Investment Schemes Control Act 45 of 2002, subject to the conditions and limits contained in Chapters 1,2 and 5 of that notice, and those specifically applicable to South African Interest Bearing - Money Market funds contained in the ASISA STandard on Fund Classification effective January 2013, in any case as amended or superseded from time to time.
Mandate Limits09 Jul 2014
At least 70% of assets to be invested in South African markets
Up to 25% of assets may be invested outside of AFrica
An additional 5% of assets may be invested in Africa (ex SA)
Up to 13 months residual maturity for an instrument in the fund
Up to 120 days weighted average legal maturity for an instrument in the fund
Up to 90 days weighted average duration of all instruments included in the fund
The fund SHALL comply with REg 28 Pension Funds Act