Decision ID: 003725

In October 2010 the 1992 Fund Administrative Council, the 1971 Fund Administrative Council and the Supplementary Fund Assembly noted the recommendation by the joint Investment Advisory Body that the Director should insert an additional clause in the Funds’ Hedging Guidelines to cover exceptional circumstances where amounts held with a financial institution may exceed the investment limits set out in the IOPC Funds’ Financial Regulations for substantial periods of time in cases where there are incidents in a Member State whose currency is not freely convertible.