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

Item

Total exposure measure

1

Commitment approach

a portfolio's total exposure to the market does not exceed 200% of the total net asset value of the portfolio

2

Value-at-Risk approach

Absolute value-at-risk

Absolute value-at-risk using daily historical data must be calculated on a daily basis to determine with a 99% confidence level that the potential loss over the following month will not exceed 20% of the portfolio's net asset value