| Investment Objective |
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| The objective is to provide income, with some capital appreciation over the longer term. The current policy is to invest primarily in commercial property and property-related equities, property investment companies, other property collective investment schemes, property related fixed income securities and cash. Potentially at any time up to 80% of the fund's assets may be held in immoveable property. Non-Sterling denominated assets may be hedged back to Sterling. |
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