A medium to high fund exposure to Market risk, Currency risk, Derivative risk, Liquidity risk, Counterparty risk and Developing market risk. q. PPS Global Equity Feeder Fund Investment objective The Fund’s primary investment objective is to outperform the MSCI All Country World Index (net of fees), with an investment horizon of greater than seven years. Investment mandate The PPS Global Equity Feeder Fund invests in the foreign-domiciled PPS Global Equity Fund, established under the Prescient Global Funds ICAV, approved by the Irish Regulator. Typical investments The rand-denominated fund offers exposure to the global equity market and may also invest in financial instruments for the exclusive purpose of hedging against exchange rate risk. The underlying fund (The PPS Global Equity Fund) will invest in a diversified portfolio of global equity and equity-related securities. The underlying fund may also hold ancillary liquid assets, collective investment schemes and hold cash positions. Investments will have a global focus insofar as investments are not confined or concentrated in any particular geographic region or market. Risk exposure A medium to high fund exposure to Market risk, Currency risk, Derivative risk, Liquidity risk, Counterparty risk and Developing market risk. 40. Going concern The Trustees / Directors assess the Group’s future performance and financial position on an ongoing basis and have no reason to believe that the Group will not be a going concern in the reporting period ahead. For this reason, these financial statements are prepared on a going concern basis. Covid-19 virus pandemic COVID-19 virus claims have significantly decreased compared to 2021 and 2020 on both the Health and Life side. Non-Covid related sickness claims have increased, one of the reasons being that patients are less reluctant to see a medical practitioner for a diagnosis compared to times when the pandemic was prevalent. Going concern and solvency The financial statements have been prepared on the basis of accounting policies applicable to a going concern. This basis presumes that funds will be available to finance future operations and that the realisation of assets and settlement of liabilities, contingent obligations and commitments will occur in the ordinary course of business. The solvency position of the Group remains resilient. 201 Notes to the Consolidated Financial Statements
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