MIIF Investment Policy & Guidelines

The Investment Policy and Guidelines (IPG) is established in accordance with section 39 of the Minerals Income Investment Fund Act, 2018 (Act 978) as amended by the Minerals Income Investment Fund (Amendment) Act, 2020 (Act 1024) (the MIIF Act).
The IPG is developed on the back of the sustainable growth agenda of the Fund and its Strategic Plan.
The implementation of the IPG shall take into consideration the advice of the IAC and approval of the Board of Directors (the Board) of MIIF (or the Fund).
This document is to guide the investment decisions of the Fund in the short, medium, and long-term, pursuant to the dictates of the MIIF Act.

PURPOSE AND OBJECTIVES 

 Purpose 

 The purpose of the IPG is to provide a framework and procedures for the investment operations of the Fund and to assist the Board, Management, and Asset Managers of the Fund in their quest to maximize the income from minerals royalties accruing to the Republic through the optimization of returns within an acceptable level of risk. 

 Objectives 

 The objectives of IPG are: 

(a) establish for parties involved a clear understanding of the investment goals and objectives of the assets of the Fund; 

(b) identify investment avenues and opportunities, especially within the mining sector and the appropriate financing and investment modules to deploy;

 (c)  offer guidance and limitations to all Investment Managers regarding the investment of the Fund’s assets;

 (d) set-up a framework for selection of investment projects and monitoring of investment results on quarterly basis; 

 (e) and identify permitted asset classes (MIIF Portfolio) for investment and acceptable ranges of funds allocation that are expected to optimize potential returns within a reasonable degree of risk.