Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)

Item

Categories of Securities

Limits being the maximum percentage of the net asset value of the portfolio

Per issuer/guarantor as applicable

In aggregate for all issuers/guarantors as applicable

1

Non-equity securities issued or guaranteed by:

200%

1.1

the government of the Republic of South Africa;

200%

200%

1.2

any foreign government which has been assigned a foreign currency sovereign rating not lower than that of the Republic of South Africa;

100%

100%

1.3

the South African Reserve Bank.

100%

100%

2

Non-equity securities issued or guaranteed by a local or foreign bank and repurchase transactions entered into with a local or foreign bank which forms part of a group (in terms of international accounting standards) of which the holding company is listed on an exchange:

100%

2.1

with a market capitalisation for the listed group holding company of more than R 20 billion;

100%

100%

2.2

with a market capitalisation for the listed group holding company of between R2 billion and R20 billion.

20%

100%

3.

Non-equity securities issued or guaranteed by an authorised user, other than a bank, and repurchase transactions entered into with an authorised user, other than a bank

30%

100%

4

Non-equity securities issued or guaranteed by:

100%

4.1

a public entity under the Public Finance Management Act, 1999 (Act No. 1 of 1999); and

10%

100%

4.2

any local or foreign entity which is listed on an exchange, including foreign companies, foreign public entities, foreign local authorities and foreign development institutions

10%

100%

5

No-equity securities issued or guaranteed by entities not described above where such security is:

25%

5.1

listed and traded on an exchange

5%

25%

5.2

not listed on an exchange, including, participatory interests in participation bonds

5%

10%