· Manufactured housing contractual interest loans rate cap (7) Corporate Debt Securities 5 years One of the two Cannot be convertible 20% highest to equity securities (8) Diversified Investment NA NA The portfolio of the None, if your Funds investment company shares in each must consist solely of investment Shares of an investment eligible investments company company registered under authorized by and . comprise 10% or section 8 of the Investment less of your Company Act of 1940 The investment portfolio. and Otherwise company’s risk return objectives and counts toward use of derivatives limit for each must be consistent type of with FCA guidance investment. and your investment policies. (b) Whenever the obligor or issuer of an eligible investment is Rating of foreign countries. located outside the United States, the host country must maintain the highest sovereign rating for political and economic stability by an NRSRO. (c) All eligible investments, except money market instruments, must be Marketable securities. marketable. An eligible investment is marketable if you can sell it quickly at a price that closely reflects its fair value in an active and universally recognized secondary market. (d) Obligor limits. (1) You may not invest more than 20 percent of your total capital in eligible investments issued by any single institution, issuer, or obligor. This obligor limit does not apply to obligations, including mortgage securities, that are issued or guaranteed as to interest and principal by the United States, its agencies, instrumentalities, or corporations. (2) You must count securities that Obligor limits for your holdings in an investment company. you hold through an investment company towards the obligor limit of this section unless the investment company's holdings of the security of any one issuer do not exceed five (5) percent of the investment company’s total portfolio. (e) You may purchase and hold other investments that Other investments approved by the FCA. we approve. Your request for our approval must explain the risk characteristics of the investment and your purpose and objectives for making the investment. [, as amended at ]
· Manufactured housing loans contractual interest rate cap (7) Corporate Debt Securities 5 years One of the two highest Cannot be convertible to equity securities 20% (8) Diversified Investment Funds Shares of an investment company registered under section 8 of the Investment Company Act of 1940 NA NA The portfolio of the investment company must consist solely of eligible investments authorized by and . The investment company’s risk and return objectives and use of derivatives must be consistent with FCA guidance and your investment policies. None, if your shares in each investment company comprise 10% or less of your portfolio. Otherwise counts toward limit for each type of investment. (b) Rating of foreign countries. Whenever the obligor or issuer of an eligible investment is located outside the United States, the host country must maintain the highest sovereign rating for political and economic stability by an NRSRO. (c) Marketable securities. All eligible investments, except money market instruments, must be marketable. An eligible investment is marketable if you can sell it quickly at a price that closely reflects its fair value in an active and universally recognized secondary market. (d) Obligor limits. (1) You may not invest more than 20 percent of your total capital in eligible investments issued by any single institution, issuer, or obligor. This obligor limit does not apply to obligations, including mortgage securities, that are issued or guaranteed as to interest and principal by the United States, its agencies, instrumentalities, or corporations. (2) Obligor limits for your holdings in an investment company. You must count securities that you hold through an investment company towards the obligor limit of this section unless the investment company's holdings of the security of any one issuer do not exceed five (5) percent of the investment company’s total portfolio. (e) Other investments approved by the FCA. You may purchase and hold other investments that we approve. Your request for our approval must explain the risk characteristics of the investment and your purpose and objectives for making the investment. [, as amended at ]
615.5140.docx