We aim to achieve a compound annual growth in NAV per share, over the long term, in excess of the 10-year SA government bond yield to maturity + 6%. We may extend our asset base through the use of leverage, but never exceeding 30% of the NAV. As an investment holding company we realise the importance of maintaining a very low cost structure. No management fees are charged to entities outside the structure of FIH. Most administrative functions are outsourced to third party service providers. FIH, including the achievement of performance targets, is governed through its Board of Directors and committees of the Board. Operating costs are maintained below 1,5% of NAV.