Investment Funds

(a)Common or capital shares of any investment trust or mutual fund (including any index fund) registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as from time to time amended; provided, that the cost of the shares acquired is no greater than their net asset value on the date of acquisition.

(b)Units in any common trust fund or commingled fund (including any index fund) maintained by a custodian meeting the requirements of Title 4 GCA, § 8144, and advised or sub-advised by an investment management organization meeting the requirements of Title 4 GCA, § 8145.

(c)Preferred shares of any investment trust or mutual fund (including any index fund) registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as from time to time amended; provided that:

(1)the number of issued and outstanding common or capital shares multiplied by their asset value per share, plus;

(2)the number of issued and outstanding preferred shares, multiplied by their par or stated value, is at least fifty percent (50%) greater than the number of issued and out-standing preferred shares, CH. 8 RETIREMENT OF PUBLIC EMPLOYEES multiplied by their par or stated value. For purposes of this Section, the number of issued and outstanding shares shall be taken as of the latest available public report of such investment trust or mutual fund. Preferred shares as described in this Subsection shall not be subject to the provisions of