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(1) A trustee or pension fund manager may invest pension fund assets in units of investment funds except that investment fund may only be invested in the categories of investments specified in section 176 of this Act.

(2) The Board may recommend to the President through the Minister responsible for Finance for approval, the investment of pension fund assets outside the country except that any amount to be invested outside, shall not exceed a percentage of total funds available for investment as determined by the Board.

(3) External investments shall be subject to the Bank of Ghana foreign exchange rules.