The Board of Directors determines the investment policy for the assets managed by PSP Investments. This policy, which is reviewed on an annual basis, is known as a Statement of Investment Policies, Standards and Procedures (SIP&P) and relates to each fund that PSP Investments manages. Since the four funds are relatively young funds, they share comparable characteristics including high net contributions and a long duration of liabilities. The Board of Directors will therefore apply the same SIP&P to the four funds.

The SIP&P addresses matters such as categories of investments; use of derivative products; asset diversification and expected investment returns; management of credit, market and other financial risks; liquidity of investments; lending of cash and securities; evaluation of investments that are not regularly traded on a public exchange; and the exercise of any voting rights that PSP Investments has through its investments.

PSP Investments employees and every investment manager who invests the assets of PSP Investments are required to comply with the SIP&P.