The objective of the portfolio is to provide above average long term capital growth by investing in global equities the Investment Manager has identified as being undervalued and as offering above average growth potential. The portfolio will invest in assets in liquid form and in participatory interests of the Sanlam Global Best Ideas Fund under the Sanlam Universal Funds PLC registered on 4 September 2006. The portfolio will have foreign exposure of at least 85% at all times. The Trustee shall ensure that the investment policy set out in the preceding clauses are adhered to; provided that nothing contained in this clause shall preclude the Manager from varying the proportions of securities in terms of changing economic factors or market conditions or from retaining cash in the portfolio and/or placing cash on deposit. The Manager will be permitted to invest on behalf of the SIM Global Best Ideas Feeder Fund in offshore investments as legislation permits.