In 2008 Guardian Media Group (GMG) established an investment fund portfolio, as part of its strategy to reduce risk. This fund consists of a wide range of different investments made directly by GMG. These investments are managed by a number of specialist fund managers, and include global and emerging markets equity, fixed income, real assets and hedge funds. GMG is advised by Cambridge Associates on these investments. These facts have been a matter of public record for some time, and are published in GMG's annual report.

The investment portfolio is designed to be relatively low-risk (in line with GMG's investment strategy) and similar to those typically used by pension funds and other standard investment vehicles. While the majority of the funds are based outside the UK, GMG is subject to UK tax on all income and realised gains arising from these investments. GMG does not use derivative financial instruments for speculative purposes. Part of the investment fund portfolio is denominated in US dollars, and GMG uses currency hedging in order to protect its investment fund against fluctuations in currency values. Further details are available in GMG's annual report.

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