What can the Salt Long Short Fund actually invest in?
The fund's Statement of Investment Policy and Objectives (SIPO) defines the asset classes it can hold and the allowable target / min / max weights for each.
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Gross equity exposure | — | 0% | 400% |
| Net equity exposure | 30% | -30% | 60% |
| Unlisted securities | — | 0% | 5% |
| Cash or cash equivalents | — | 0% | 100% |
Mandate flexibility (sum of max − min across all ranges): 595%. Wide range — high manager discretion typical of active management.
Responsible-investment approach
Salt does not hold securities of companies whose core business activities (more than 10% of revenue) are: manufacture of cluster munitions, manufacture or testing of nuclear explosive devices, manufacture of anti-personnel mines, manufacture of tobacco, processing of whale meat, recreational cannabis, gambling, or manufacture of civilian automatic and semi-automatic firearms, magazines or parts. Salt is a signatory to the UN Principles for Responsible Investing and integrates ESG factors into stock-specific research.
Derivatives policy
Derivatives are used as an important part of effective portfolio management, including hedging to manage overall risk, achieving best execution and reducing transaction costs, and achieving asset exposures efficiently. Derivatives may not be used where this would result in a conflict with the Funds' governing documents or this SIPO.