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The Investment Manager attends Board and Audit Committee meetings, to participate in transparent discussions the place constructive challenge is encouraged. The Board and Investment Manager talk often outdoors of those conferences with the aim of sustaining an open and collegial relationship.
Market threat arises primarily from uncertainty about future prices of financial devices used in the Group’s enterprise. It represents the potential loss the Group may undergo through holding market positions by the use of value movements and movements in trade rates and rates of interest. The Investment Manager assesses the exposure to market threat when making every investment determination and these dangers are monitored by the Investment Manager frequently and the Board at quarterly meetings with the Investment Manager. For investments actively traded in organised financial markets, truthful worth is usually determined by reference to quoted market bid costs at the shut of enterprise on the Balance …


