Objective

To achieve a real return of CPI + 4% p.a. over rolling three years. The secondary objective is to maintain a strong focus on capital presentation over rolling 12 months. The Fund will maintain compliance with Annexure B of the Medical Schemes Act.

Philosophy

To manage a portfolio consisting of the widest possible array of Global and Domestic asset classes that exhibit low or negative correlations to each other, in such manner as to achieve the target performance and risk control objectives, within regulatory limitations

Portfolio Characteristics

The Portfolio should achieve consistent, though modest investment performance and exhibit low dispersion of returns through all business cycles due to the uncorrelated nature of the portfolio holdings. Investment returns will consist of both capital and income due to the diversified portfolio holdings, which should also assist in minimising losses during periods of market or economic turbulence.

Benchmark

CPI +4%