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Unit trusts, futures and other derivatives may be held. Derivatives may be used in conjunction with other investments, ie to hedge a portfolio run by an investment manager. We do not consider that dealing exclusively in futures and options is appropriate for a pension fund and will not agree to such investments where they exceed 10% of the fund. We will not make any investments the purchase of which would trigger a tax charge from HMRC (Her Majesty's Revenue & Customs). For further details of investments please see our Key Features Document |
