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Kleinwort Benson Elite Multi Asset Growth Fund B EUR Acc Non Rpt

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Kleinwort Benson Elite Multi Asset Growth Fund B EUR Acc Non Rpt Report as of 31 Jul 2017 Kleinwort Benson Elite Multi Asset Growth Fund B EUR Acc Non Rpt Morningstar Rating™ Morningstar® Category QQQ EUR Aggressive Allocation 15.0 Investment Objective Growth Of 10000 14.0 (EUR) The Fund seeks to outperform equity returns with 13.0 Fund equity-like risk through a well diversified portfolio 12.0 Category across asset classes. 11.0 10.0K This share class is hedged into EUR. The aim is, as far 2012 2013 2014 2015 2016 YTD Performance as possible, to replicate the performance of the GBP share class. This is achieved by entering into forward - 9.13 2.49 -0.97 15.42 4.94 Fund currency contracts equal to the net asset value of the - -3.10 -1.77 -8.73 12.93 -0.64 +/- Index EUR share class. - ( ) ) & * Quartile Rank 1.33 1.27 1.10 1.12 1.09 1.00 NAV Fund Manager Commentary Trailing Returns Return % +/-Idx Quarterly Returns 1st qtr 2nd qtr 3rd qtr 4th qtr In the US unemployment is now 4.3%, with non-farm (31 Jul 2017) 2017 3.59 0.14 - - payrolls rising by 209,000 in July. However, 1 Month 1.16 1.24 2016 1.08 3.83 6.25 3.51 employment levels may be a red herring; falling inflation 3 Months 2.29 2.63 2015 4.18 -3.76 -4.32 3.23 is the real concern, dampening the markets rate 6 Months 4.17 -1.38 2014 -0.67 0.87 0.19 2.10 expectations. Against this backdrop the US dollar 1 Year 10.18 -0.51 2013 8.64 -2.59 0.27 2.85 weakened against both the Euro and sterling. Eurozone 3 Years Annualised 7.13 1.58 unemployment fell to 9.1%, reaching a post-crisis low. 5 Years Annualised - - Undeniably, Europe is in a virtuous cycle of jobs growth and increasing aggregate demand. Souring the mood is Portfolio 31 Jul 2017 inflation: headline prices stayed unmoved at 1.3%, far Asset Allocation % Port. Morningstar Style Box™ from the 2% target, emphasising large output gaps. The Equities 75.10 Equity Style Fixed Income Style Bank of England kept interest rates on hold at record Fixed Income 18.23 Large Size High Credit Quality lows in July. It still expects inflation to rise to 3%, before Real Estate 0.00 Mid Med falling back to 2.6% next year, ahead of the 2% target. Cash 5.81 GDP growth is now forecast at a meandering 1.7% this Alternative 0.79 Small Low year; rate hikes appear off the docket for a dovish BoE for now. The fund’s fixed income, equity and Value Blend Growth Ltd Mod Ext Style Interest Rate Sensitivity commodities allocations all delivered positive returns. Equity Sector Weightings % Equity Cyclical 37.47 The government Index linked exposure was a modest h Top 10 Countries % Equity r Basic Materials 6.34 detractor, though this was more than offset by the United States 42.92 performance of the credit investments. The equity t Consumer Cyclical 15.14 United Kingdom 8.41 allocation provided the majority of the returns with y Financial Services 14.85 Japan 8.27 Europe, US and emerging markets being the largest u Real Estate 1.14 Germany 6.32 contributors. j Sensitive 37.70 France 5.92 i Communication Services 3.47 Top 10 Holdings Sector % Port. Netherlands 4.16 o Energy 4.07 Fidelity Index US P Inc - 10.15 China 4.00 p Industrials 11.86 iShares Core S&P 500 ETF USD Acc - 8.33 Switzerland 2.50 a Technology 18.30 JOHCM Continental European A GBP - 7.54 Republic of Korea 2.10 Fidelity American Growth... - 7.39 k Defensive 24.83 Denmark 1.88 BGF Continental European Flex... - 7.18 s Consumer Defensive 9.22 Top 10 Countries % Fixed Income d Healthcare 14.32 Fidelity Emerging Markets W Acc - 7.17 United Kingdom 38.55 f Utilities 1.29 Luxembourg 27.80 Legg Mason CB US Agrsv Gr Prem... - 6.92 Tokio Marine Japanese Equity... - 6.16 Fixed Income Sector Weightings % United States 23.89 / Government 36.62 Netherlands 1.99 Jupiter European I Inc - 6.11 Threadneedle UK Z Inc GBP - 5.94 › Corporate 28.90 France 1.14 u Securitized 1.44 Assets in Top 10 Holdings % 72.89 Germany 0.88 ‹ Municipal 0.07 Canada 0.78 y Cash & Equivalents 15.09 Cayman Islands 0.65 ± Derivative 17.88 Switzerland 0.52 Spain 0.51 Cash allocation includes cash or near cash instruments with a duration of less than 1 year. Due to an inconsistency between decimal places used by the Investment Manager and the reporting mechanism, on rare occasions minor rounding differences may occur in the representation of changes © 2017 Morningstar. All Rights Reserved. The information, data, analyses and opinions (“Information”) contained herein: (1) include the proprietary information of Morningstar and Morningstar’s third party licensors; (2) ® may not be copied or redistributed except as specifically authorised;(3) do not constitute investment advice;(4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before ß using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up. Report as of 31 Jul 2017 Kleinwort Benson Elite Multi Asset Growth Fund B EUR Acc Non Rpt Morningstar Rating™ Morningstar® Category QQQ EUR Aggressive Allocation Risk Measures 3-Yr Alpha - 3-Yr Sharpe Ratio 1.01 3-Yr Beta - 3-Yr Std Dev 7.29 R-Squared - 3-Yr Risk bel Information Ratio - avg Tracking Error - 5-Yr Risk - 3-Yr Max -8.92 10-Yr Risk - Drawdown Calculations use EUR Aggressive Allocation (where applicable) Peer Group Analysis 3Yr Ann. Rtn. 12.00 10.00 8.00 6.00 4.00 2.00 0.00 -2.00 -4.00 -6.00 -3.00 0.00 3.00 6.00 9.00 12.00 15.00 18.00 3 Yr Standard Deviation Fund Category Average Operations NAV (31 Jul 2017) 1.3376 EUR Inception Date 18 Oct 2012 Total Net Assets (mil) 55.63 GBP Fund Manager Delyth Richards Inc/Acc Acc Manager Start Date 1 Feb 2016 In-house ISA scheme No Domicile Guernsey UCITS No Currency Euro ISIN GG00B8089Q81 Legal Status Open Ended Protected Cell Company Bloomberg Code KBEMRBE GU Fund Company Kleinwort Benson (C.I) Inv Mgt Ltd SEDOL B8089Q8 Phone +44 (0) 1481 752630 Minimum Initial Purchase 12,000 Website www.kleinwortbenson.com Minimum Additional Purchase 120 Email [email protected] Ongoing Charge* 2.78% Address Kleinwort Benson Sales Charges - up to 5.00% PO Box 44 Dividend Paying Frequency N/A Dorey Court Dividend Yield (%) N/A% Admiral Park Dividend Declared N/A St. Peter Port Online Valuations Available Guernsey Distribution Status Yes GY1 3BG Pricing Frequency Weekly *calculated as at 31-Jan-2017. This amount may fluctuate according to fund size and underlying holdings. : This document is issued by Kleinwort Benson (Channel Islands) Investment Management Limited (“KB(CI)IML”) in its capacity as Investment Manager and Alternative Investment Fund Manager of Kleinwort Benson Elite PCC Limited (“the Fund”). Kleinwort Benson and Kleinwort Hambros are the brand names of Kleinwort Benson (Channel Islands) Investment Management Limited, which is regulated by the Guernsey Financial Services Commission ("GFSC") for the conduct of investment business. The company is incorporated in Guernsey under number 59377 and its registered address is Dorey Court, Admiral Park, St Peter Port, Guernsey GY1 2HT. The Fund is a protected cell company registered in Guernsey and regulated by the Guernsey Financial Services Commission as an Authorised Scheme under the Authorised Collective Investment Schemes (Class B) Rules, 2013. It is also registered with the Financial Conduct Authority as an Alternative Investment Fund (“AIF”). Shares in the Fund can only be marketed to investors who are categorised as “professional”. The purpose of this document is to provide summary information regarding the performance of a particular cell / class of the Fund as at the date stated. Investment in the Fund is through the purchase of shares (“Shares”). This document does not constitute an offer to transact business in the Shares in any jurisdiction where such an offer would be considered unlawful. Before deciding to invest in the Fund, potential investors should read the latest Prospectus document and note the important regulatory disclosures and risk warnings, restrictions and acknowledgements contained therein. Readers should also note that, in some or all respects, the regulatory regime applying in Guernsey (including any investor protection or compensation schemes) may well be different from that of their home jurisdiction. The past performance of any Fund cell / class is not necessarily a guide to any future performance of that cell / class. The price and value of investments can fall as well as rise and investors may not receive, on redemption of their Shares, the original amount invested. Changes in rates of exchange between currencies may have an independent effect, which may be favourable or unfavourable, on the value of investments and income derived from them. This document is not available for general distribution in, from or into the United Kingdom because the Fund is an unregulated Collective Investment Scheme whose promotion is restricted by sections 238 and 240 of the Financial Services and Markets Act 2000.
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