Holdings: a minimum of 20 holdings in the fund.

Equities: up to a maximum of 100% of Net Asset Value (NAV).

Commodities: up to a maximum of 100% of NAV. Investment in gold and precious metals is limited to direct holdings of physical bullion and futures. Investment in other commodities is limited to futures and options (up to a maximum of 25% of NAV).

Cash: up to a maximum of 100% of NAV for capital preservation purposes.

Unquoted Investments: up to a maximum of 5% of NAV.

Position limits: up to a maximum of 10% of NAV for a single holding and 15% for a single issuer.

Other funds: the fund may invest in one or more other investment funds and the position restrictions will not apply in such instances.

Hedging: normally no currency hedging will be used.

Note: There are certain risk factors associated with investing in funds and, in particular, those funds investing in the gold and natural resources sectors, click here for further information.

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