Which of the following is NOT a component of an investment mandate?

An investment mandate generally outlines the investment strategy, objectives, and restrictions that guide portfolio management. It typically includes several critical components that define how the investment manager should operate. Among these components are investment performance metrics, which assess how well the investment aligns with its objectives; guidelines for portfolio diversification, which help manage risk; and constraints on investment types that specify which investments are allowable or prohibited based on the investor's preferences or regulatory requirements.

However, specific asset purchase prices do not fall under the standard components of an investment mandate. The mandate focuses on broader strategic aspects such as overall asset allocation and risk tolerance rather than specific execution details related to pricing. Specific prices are more relevant to trading strategies and implementation rather than the foundational guidelines of the investment mandate itself.