Description of Investment

Portion Subject to Exclusion Principle

Investments made by or for a South African collective investment scheme as defined in the Collective Investments Scheme Control Act of 2002 of South Africa

full value

Investments made by or for a South African pension fund as defined in the Pension Fund Act of 1956 of South Africa

full value

Investments made by or for a South African medical scheme as defined in the Medical Schemes Act of 1998 of South Africa out of member's funds

portion recorded as made out of member's funds

Investments made by or for South African long-term insurers as defined in the Long-Term Insurance Act of 1998 of South Africa out of policyholder funds

portion recorded as made out of policyholder funds

Investments made by or for a friendly society as defined in the Friendly Societies Act of 1956 of South Africa

full value

Investments made by or for a South African bank as defined in the Banks Act of 1990 of South Africa out of depositor funds as opposed to own reserves.

depositor portion determined by apportioning investment in the ration that depositor funds to own reserves

Investments made by or for a South African mutual bank as defined in the Mutual Banks Act of 1993 of South Africa out of depositor funds as opposed to own reserves

depositor portion determined by apportioning investment in the ratio that depositor funds to own reserves