Exposure limits
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| • | 10% per security or 30% per security as long as the aggregate excess exposure above 10% is limited to 40% of the net asset value of the portfolio; |
| • | the aggregate (transferable equity securities, money market instruments, or deposits) exposure per counterparty must be less than or equal to 30%; |
| • | a maximum 20% in aggregate in securities based on the value of gold, other metals, and commodities if the securities are listed on an exchange (in accordance with Board Notice 90 of 2014) and as long as physical delivery is limited subject to paragraph 10(2)(b); |
| • | a maximum of 20% in unlisted transferable equity securities as long as these securities are negotiable, can be independently valued, and do not compromise the ability of the portfolio to meet its liquidity terms; |
| • | maximum of 10% in any other securities or assets. |
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