Outside
management
CONFIDENTIAL
- 50 -
LIMITS
(c)
investments having
Not permitted.
a maturity
5.
exceeding 10 years.
Between 40-60% of foreign currency
assets
should be placed under outside management (excluding
central banks).
The Fund or any part of it may be employed as
follows:
Authorised
6.
debt
obligations
(a)
(b)
(c)
on deposit with a bank;
in marketable dated obligations issued or
guaranteed by any of the following governments:
Australia, Austria, Belgium, Canada, Denmark,
Eire, Federal
Federal Republic of Germany, Finland,
France, Holland, Hong Kong, Italy, Japan, New
Zealand, Norway, Singapore, Sweden,
Switzerland, United Kingdom and United States
of America;
in marketable dated obligations issued by
state and provincial governments, state owned
corporations and government agencies located
any of the countries mentioned in
sub-paragraph (b) of this paragraph;
in
CONFIDENTIAL