The Intellivest BCI Income Fund is a multi-asset income generating portfolio with the objective of achieving an inflation beating level of sustainable returns and stability of capital invested. The portfolio is managed in compliance with prudential investment guidelines for retirement funds in South Africa to the extent allowed for by the Collective Investment Schemes Control Act, subject to a maximum equity exposure of 10% of the portfolio's net asset value. Investments to be acquired for the portfolio may include equity securities, property securities, property related securities, interest bearing securities, non-equity securities, money market instruments, preference shares and assets in liquid form.

The portfolio may also invest in participatory interests and other forms of participation in portfolios of collective investment schemes registered in South Africa, and other territories. The latter must operate under a regulatory environment that satisfies the fund manager and trustees and be of a sufficient standard to provide investor protection at least equivalent to that in South Africa. It must also be consistent with the portfolio's primary objective. The portfolio may from time to time invest in listed and unlisted financial instruments, in accordance with the provisions of the Act, and the Regulations thereto, as amended from time to time, in order to achieve the portfolio's investment objective. The manager may only include the following unlisted derivative financial instruments for efficient portfolio management purposes: Forward currency as well as interest rate and exchange rate swap transactions.