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Uninvested cash reserves should be kept to minimum levels. Within the limitations mentioned above, the Trustees have complete discretion to allocate and select shon-tenn cash and equivalent securities. Mutual Funds; The restrictions on Domestic Equity investments do not apply to mutual funds whkh may be used to reach the plan's goals but may have less restrictive investment policies. The plan may invest not more than 25 percent of plan assets in international, global or world-regional mutual funds registered with the SEe. International securities are included as equities in the overall portfolio makeup but may not carry Standard & Poor's or Moody's ratings. Each seeurity in the portfolio of a mutual fund seleeted by the Trustees must meet the standards for individual securities as mandated by Minnesota Statutes. Within the above guidelines, the Trustees have full responsibility for fund selection and diversification, subject to a maximum 10 percent commitment of the fund's market value for an individual mutual fund and 30 percent for a panicular fund category. The Trustees also will have full discretion over turnover and allocation of equity holdings among selected securities and industry groups, within the limits described above. The Trustees may invest in the following mutual fund categories: · Corporate Bonds · Government Bonds High Yields Municipals Balanced Growth and Income Income Funds · Growth · Aggressive Growth · Small Cap International Global Metal/Natural Resources Index Funds Criteria to apply when considering a mutual fund investment may include: · The five year track record of the fund. · The fund's ranking versus othcr/like funds within its respective category. The fund should have an annual expcnse ratio of less than 1.5 percent 5