The investment policy of the portfolio shall be to track the
S&P South Africa 50 Index as closely as possible, by buying
only constituent securities in the same weightings in which
they are included in the Index and selling only securities which
are excluded from the Index from time to time as a result of
quarterly Index reviews or corporate actions.
The index, which is constructed and maintained by S&P Dow
Jones Indices, provides exposure to the largest 50 companies
on the JSE by float-adjusted market cap. Constituent weightings
are capped at 10% (as at the quarterly rebalancing date).