Inevitably, with a new and innovative product, the market takes some time to mature and reach a stage where issuers are comfortable with the level of PurePlays that they can handle without strain on their production resources, and Investors are comfortable with assessing the risk and reward balance of a particular issue.

As developers of the PurePlay product we therefore thought that it would be helpful for us to set out what we believe to be conservative prudential guidelines for the early issues. These guidelines are not prescriptive, and in time the market will find its own comfort level, which will then become the norm in place of these guidelines.

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