Os002711 cheviot nma_pres1

New Model Adviser Conference

Cheviot Asset Management - Investment Solutions

OS002711_Cheviot_NMA_Pres[1]_OS002711 11/01/2012 11:22

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n Personal Service- Bespoke solutions for all our clients- Individual portfolio manager- Maintain the integrity of the Adviser/Client relationship

n Transparency- Complete access to fund manager and portfolios

n Liquidity- Daily dealing for subscriptions and redemptions for funds solutions

n Performance- Independently verified by ARC

n Risk Management - Tailored to your needs - Stress testing by Redington Partners- Emphasis on wealth preservation

n Structure- Onshore regulated UCITS III Fund - White Label- Managed Portfolios can be created to suit your clients investment needs

Why Us?

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Our Proposal

n Work in Partnership

n Own branded funds

n Bespoke solutions

n Managed by Cheviot Investment Team

n Onshore Regulated UCITS III Fund- CGT exempt fund - Dividends exempt from UK Corporation Tax - Recent regulatory changes to the tax elected fund rules (TEFs) mean that there is no UK tax liability for the non-UK residents

- Cheviot Fees – AMC 0.75%

n Example Strategies - Cautious - Strategic - Balanced - Growth - Conservative - Yield


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Risk Assessment

Figures for 2009 & 2010

IFA firm risk profile


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Libero Asset Allocation

UK EquityNorth America Europe (ex UK)JapanAsia (ex Japan)

Emerging MarketsBondsCashAlternatives

34.2%

8.4%

3.5%0.9%

3.8%1.9%

20.4%

10.2%

16.6%

GiltsCorporate BondsUK EquityCash

53.0%

7.0%

24.4%

15.6%

Fixed InterestConvertible BondsUnited KingdomNorth AmericaEurope (ex UK)

10.06%

1.66%

47.33%

11.91%

5.95%

1.49%3.14%1.37%

JapanAsia Pacific (ex Japan)Emerging MarketsAlternative InvestmentsCash

8.56%

8.53%

Libero Strategic Model Libero Cautious Model Libero Balanced Model


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Libero Cautious Performance 2011

Source: Financial Express


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n Efficiency and time saving for the Financial Adviser as we will do all the research,implementation and management of your clients portfolios

n The Financial Adviser has more time to provide an enhanced service to their clients

n Regular investment briefings

n Flexible pricing structure to fit with Financial Adviser business model

n Total expense ratio reduction

n RDR compliant

n Training/Compliance/Marketing support

Benefits to Financial Adviser


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n Ownership of share class

* A dedicated share class that is “portable”

Marketability

n Monthly fact sheets can be distributed toexisting or potential clients

n Design and content can be controlled bythe share class owner and can alsoincorporate news updates

e.g. - ISA reminders before April

- CGT planning


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n Strategic Partnership

n Competitive Pricing

n Timely Solution

n Financially Rewarding

Summary


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Cheviot Asset Management90 Long AcreLondon WC2E 9RA

Dominic TaylerTel: 020 7438 5610Email: [email protected]

David MillerTel: 020 7845 5686Email: [email protected]

Nick LaceyTel: 020 7845 5688Email: [email protected]

Mark EwerTel: 07880 784 423Email: [email protected]

Contacts


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n Independent partnership

- member firm of the London Stock Exchange- bringing institutional investment standards to private clients

n £3.6 billion assets under management raised in five years*

n Company transformed in 2006

- Fastest Growing Asset Manager (PAM Awards 2007)- Most Effective New Market Entrant (Spears Awards 2007)- Winner of Best Performance (Daily Telegraph Wealth Management Awards 2008)

n Focus exclusively on structuring and managing customised investment portfolios forprivate clients, trusts, charities and pension funds

n 127 staff including partners

- average investment experience of partners is 25 years

*as at January 2012

Cheviot Asset Management


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Fund Performance

1m 3m 6m 12mPosition by shareclass rolling 12

months*Commentary

Cautious 1.05 2.65 4.81 6.9 4/467

Discovery 1.54 4.7 -0.37 4.53 25/467 5/322 over 3 years.

Strategic 0.94 3.98 -3.63 -1.44 177/467Consistent 1st and 2ndquartile performer

Balanced 1.27 4.83 -5.51

*Price Bid-Bid to 09/01/2012 from All Funds Universe and ranked within table – all share classes included Source: Financial Express


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Cheviot Models: Return vs Risk (36 months)

● Sterling Cash ● World Equities

◆ Cheviot Conservative Model ■ Cheviot Balanced Model

▲ Cheviot Growth Model ▼ ARC GBP Cautious PCI Median

◆ ARC GBP Balanced Asset PCI Median ■ ARC GBP Steady Growth PCI Median

▲ ARC GBP Equity Risk PCI Median

Return vs Risk (36 months - September 2008 to September 2011)

Risk relative to World Equities

Mean Return (per cent per annum)

▼◆

■ ▲ ●

◆

■▲

0.0 0.2 0.4 0.6 0.8 1.0

-4

-2

0

2

4

6

8

Source: Asset Risk Consultants Market Intelligence Report 30/09/11


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How To Buy The Funds

n Direct via Way Fund Managers:- Way Application Forms can be downloaded at www.elitefa.com or speak to David Williams on 01202 855 856

n Open a Discretionary Account with Cheviot:- Request Cheviot Application Forms from your usual contact at Cheviot or speak to Philip Burbidge on 020 7845 6150

- Clients and advisers benefit from online valuations- Electronic monthly factsheet for clients and advisers- Semi-annual formal valuations

n Via a Platform:- If you require the Libero Funds to be listed on any other Platform, please let us know- The funds are eligible for Offshore Bonds, ISAs, SIPPs


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Biographies Cheviot Asset Management

90 Long Acre London WC2E 9RA

Main: +44 (0) 20 7845 6150Fax: +44 (0) 20 7845 6155

Alan McIntosh - Chief Investment Officer

Alan began his career as a fund manager in 1982 at Scottish Life, followed by Municipal Mutual andBZW Investment Management. He joined Credit Suisse Asset Management in 1994 as UK MarketStrategist before moving in 1999 to Laing & Cruickshank Investment Management where he ran themodel portfolios and was Senior Equity Strategist. Alan continued in this role at UBS WealthManagement following their acquisition of Laing & Cruickshank in 2004, and was appointed ExecutiveDirector. He joined Cheviot Asset Management in 2006 as Chief Investment Officer.

David Miller - Investment Director

David joined Cheviot Asset Management as a Partner in 2007 where he is a member of the InvestmentCommittee. He writes investment notes on a variety of topics and is a regular on CNBC, Sky, BBC andReuters TV. He began his career as a stockbroker at Sheppards & Chase in 1980 before moving toFlemings in 1990 where he became a Director, Head of Charities and Chairman of the Asset Allocationand Stock Selection Committee. Following the takeover of Flemings in 2000 he became ManagingDirector and Head of the UK Private Client Investment Team at JP Morgan Private Bank, before takingover as Chief Executive of the British Isles Investment business at Royal Bank of Canada. He has adegree in Natural Sciences from Pembroke College Cambridge.

Dominic Tayler - Investment Director UK SIP

Dominic graduated with an LLB (Hons) degree in law from the University of North London. He began hiscareer in investment management at Clerical Medical Investment Group in 1991, before joining CreditSuisse Asset Management in 1993, becoming an Associate Director in 1995. He moved with his team toLaing & Cruickshank Investment Management in 1999 as an Investment Director, where he wasresponsible for managing private client, charities and offshore portfolios. Following the acquisition ofLaing & Cruickshank by UBS in 2004, he was appointed Executive Director. In 2006 Dominic joinedCheviot Asset Management, where he sits on the Management Committee.


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Biographies Cheviot Asset Management

90 Long Acre London WC2E 9RA

Main: +44 (0) 20 7845 6150Fax: +44 (0) 20 7845 6155

Mark Ewer - Intermediary Director

Having spent 15 years in the Royal Air Force as fast jet aircrew, Mark joined the industry in 1995 as aclient facing Financial Planner with Clerical Medical Investment Group. In 1999 Mark was recruited byTilney Investment Management to introduce their discretionary portfolio management services to theIndependent Financial Adviser market in the North of England; he was made a Director of Tilney in 2005.Mark became part of Deutsche Bank Private Wealth Management in 2006 when it acquired the TilneyGroup. Mark joined Cheviot Asset Management in March 2011 as an Intermediary Director, specialisingin IFA Sales. He holds the Diploma in Financial Planning with the Chartered Insurance Institute.

Nick Lacey - Intermediary Manager

Following a career playing rugby both in the UK & France Nick moved to Shanghai in 2000 to work for aninternational financial services group where he worked as an independent consultant managing privateclient investments. On returning to the UK in 2006 he worked at Barclays Wealth as a RelationshipManager on their International team before moving to Castlestone Management in 2009 as a UKBusiness Development Adviser. Nick joined Cheviot in May 2011 in order to focus on marketingCheviot’s investment management services to intermediaries.


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This material has been prepared by Cheviot Asset Management which is authorised and regulated by theFinancial Services Authority. It is for Professional Advisers only. It has no regard to the specific investmentobjectives, financial situation or particular needs of any recipient. It is published solely for informationalpurposes and is not intended to be a complete statement or summary of the securities, risks, markets ordevelopments referred to in the material.

Any opinions expressed in this material are subject to change without notice and may differ or be contrary toopinions expressed by other business areas of Cheviot as a result of using different assumptions and criteria.The source of information contained in this material is Cheviot Asset Management unless otherwise stated.

January 2012

Disclaimer


Cheviot Asset Management Limited is authorised and regulated by the Financial Services Authorityand is a member firm of the London Stock Exchange.Registered in England Number 1754391. Registered Office: 90 Long Acre, London WC2E 9RA

90 Long AcreLondon WC2E 9RA

Telephone +44 (0)20 7845 6150Facsimile +44 (0)20 7845 6155

DX 37956 KINGSWAY

Email [email protected]

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