Guide 2019

ASSET MANAGER’S GUIDE 2019 FUNDS SOCIETY’S ASSET MANAGER’S GUIDE U.S. NRI

DIRECTOR: Alicia Jimenez – [email protected] ADVERTISING OPPORTUNITIES: Elena Santiso – [email protected] SUBSCRIPTIONS: Luis Montenegro – [email protected]

DEAR READER, DESIGN AND LAYOUT: El Sofá Verde PRINT: Bellak Color Funds Society is proud to present the third edition of its Asset Ma- nager’s Guide NRI, a comprehensive list of asset management firms providing UCITS investment solutions to investment professionals in the wealth management non resident industry. FUNDS SOCIETY’S BOARD OF DIRECTORS During the last twelve months we have seen more stability than in Alicia Jimenez – Managing Partner previous years, when we saw several mega mergers. The movement Elena Santiso – Managing Parter – Business Development of sales professionals from one firm to another has, nevertheless, continued. Additionally, several investment firms have upgraded their office space in Miami, and others have recently decided to establish FUNDS SOCIETY is a trademark of KABE MAS LLC themselves here, showing the strength of this city as an offshore hub for the Americas. To help you keep track of all these changes we have 1200 Brickell Avenue; Suite 1800 put together a thorough list of almost 60 international asset mana- Miami, FL 33131 gement firms who do business in the NRI market through their UCITS +1-786 429-0248 range of products, and their contacts.

We are also presenting additional information from 15 of these firms stating their business proposal for the Americas region.

We truly hope this guide is a useful tool for all of you.

The contents and/or services provided by Funds Society are of a financial nature and are aimed Best Wishes, specifically to the international or offshore financial industry professionals or experts, including information, opinion, charts, graphs and links to several financial media. Due to the number of sources from which information on Funds Society is obtained, there may be omissions or inaccuracies in such Alicia Jimenez information. Funds Society may include facts, views, opinions and recommendations of individuals and Founding Partner, Director organizations deemed of interest. Funds Society does not guarantee the accuracy, completeness or Funds Society timeliness of, or otherwise endorse, these views, opinions or recommendations. The content of this guide is not intended for the retail investor or for the wealth management professional who’s clients are residents of the U.S.

2 3 INDEX INVESTEC ASSET MANAGEMENT 16

JANUS HENDERSON INVESTORS 16 Aberdeen Standard Investments 8 Legg Mason 26 J.P. MORGAN ASSET MANAGEMENT 17 Allianz Global Investors 10 Matthew Asia 30 JUPITER ASSET MANAGEMENT* 17 Amundi Pioneer 12 Merian Global Investors 32 LA FRANÇAISE 17 Columbia Threadneedle 14 MFS 34 LAZARD ASSET MANAGEMENT 17 DoubleLine 18 Muzinich & Co 38 LARRAINVIAL ASSET MANAGEMENT 17 DWS 20 Natixis Investment Managers 40 LEGG MASON GLOBAL ASSET MANAGEMENT 17 GAM 22 OppenheimerFunds 42 LORD ABBETT 17 Janus Henderson Investors 24 Thornburg Investment Manager 48 MAN GROUP 17

MATTHEWS ASIA 28

MERIAN GLOBAL INVESTORS 28

ABERDEEN STANDARD INVESTMENTS 6 MFS INTERNATIONAL 28

ALLIANCE BERNSTEIN 6 M&G INVESTMENTS 28

ALLIANZ GLOBAL INVESTORS 6 MORGAN STANLEY INVESTMENT MANAGEMENT 28

AMUNDI PIONEER 6 MUZINICH 28

AVIVA INVESTORS AMERICAS 6 NATIXIS INVESTMENT MANAGERS 28

AXA INVESTMENT MANAGERS 6 NEUBERGER BERMAN 28

BLACKROCK 6 NN INVESTMENT PARTNERS 28

BNY MELLON IM 6 NUVEEN INVESTMENTS 29

BRANDES INVESTMENTS PARTNERS 7 OPPENHEIMERFUNDS 29

CALAMOS INVESTMENTS 7 PICTET ASSET MANAGEMENT 29

CANDRIAM INVESTORS GROUP 7 PIMCO 29

CAPITAL STRATEGIES 7 PINEBRIDGE INVESTMENTS 29

CAPITAL GROUP 7 ROBECO 29

CARMIGNAC 7 RWC PARTNERS 29

COLUMBIA THREADNEEDLE 7 SCHRODERS 46

CULLEN 7 SEI 46

DIMENSIONAL FUND ADVISORS 16 STRATEGIC INVESTMENTS GROUP 46

DOUBLELINE 16 STATE STREET GLOBAL ADVISORS 46

DWS 16 THORNBURG INVESTMENT MANAGEMENT 46

EATON VANCE 16 UBS GLOBAL ASSET MANAGEMENT 46

FRANKLIN TEMPLETON 16 VANGUARD 46

GAM 16 VIRTUS INVESTMENT PARTNERS 46

GOLDMAN SACHS 16 VONTOBEL 46

4 5 ASSET MANAGER’S GUIDE

ABERDEEN STANDARD Thomas G. Johnston BRANDES INVESTMENTS Luis Arocha INVESTMENTS Regional Director, Sales Manager PARTNERS Regional Vice President - Miami 712 Fifth Avenue for Miami Office Madrid and Uruguay 51st Floor [email protected] Tel : +(34) 91 622 60 37 [email protected] New York, NY 10019 Tel: +(1) 212 776 9078 AVIVA INVESTORS AMERICAS Jorge Claveria CARMIGNAC 85 Broad Street Business Development 1441 Brickell Avenue Menno de Vreeze 27th Floor [email protected] Suite 1520 Head of Business Development New York, NY 10004 Miami, FL 33149 International Wealth Management - Tel: +(1) 212 593 5619 CALAMOS INVESTMENTS Tel: +(1) 786 814 5970 Americas 2020 Calamos Court [email protected] Brian Ward Naperville IL 60563 Peter Stockall Senior Client Solutions Director Tel: +(1) 630.955.4899 x 3941 Business Development Manager ALLIANCE BERNSTEIN [email protected] [email protected] 701 Brickell Avenue Carlos Soriano Suite 2240 AXA INVESTMENT MANAGERS Investment Consultant - International David O’Suilleabhain Miami, FL 33131 100 West Putnam Ave [email protected] Business Development Manager Tel: +(1) 305 530 6200 4th Floor [email protected] Greenwich, CT 06830 USA CANDRIAM INVESTORS GROUP Miguel Rozensztroch Tel: +(1) 203 983 4273 51 Madison Avenue COLUMBIA THREADNEEDLE Senior Managing Director - Head of N.A. New York, NY 10010 Madrid Institutions, South/Central America & NRC Rafael Tovar Tel: +(1) 212 576 3382 Tel: +(34) 911 873 102 [email protected] Director, US Offshore Distribution [email protected] Keith Dixson Rubén García Darren Luckfield Head of International Development Head of Iberia & Latam Managing Director - NRC Division BLACKROCK [email protected] Distribution [email protected] Park Avenue Plaza ruben.garcia@ 55 East 52nd Street CAPITAL STRATEGIES columbiathreadneedle.com ALLIANZ GLOBAL INVESTORS New York, NY 10055 Madrid Tel: (1) 530 321-2535 Tel: +(1) 305 728 1189 Tel: +(34) 620 55 72 42 CULLEN 645 Fifth Avenue Josh Sylvester Jordie Olivella Jorge Benguria Suite 700 CFP®, CIMA® Head of Offshore Wealth Field Sales Team US & Latam Advisor New York, NY 10022 Director Jordie.Olivella@blackrock.com [email protected] Tel: +(1) 212 644 1800 [email protected] BNY MELLON IM CAPITAL GROUP Andrew Prescott AMUNDI PIONEER Jose Abascal 45 New York Tel: +(1) 395 798 7979 1111 Brickell Avenue Madrid 28003 Tel: +(1) 646 265 9699 [email protected] Suite 1500 Tel: +(34) 91 744 5801 Miami Miami, FL 33131 Tel: +(1) 305 202 2913 Mitchell Rind Tel : +(1) 305 982 1553 Sasha Evers Tel: +(1) 631 807 6428 Managing Director Iberia & Latin America Jameel Jiwani [email protected] Laura Palmer [email protected] Regional Vice President - Offshote New Head of U.S. Intermediary and York, Texas and California Offshore Distribution [email protected] [email protected]

6 7 ASSET MANAGER’S GUIDE

COMPANY INFORMATION Focus Strategies

Head office: • Frontier Bonds • Diversified Growth and Diversified Income • Emerging Markets Corporate Debt • US Small Cap Equities Aberdeen Standard Investments Quest Workspaces, 1395 Brickell Avenue, Suite 900, Miami, FL 33131

Telephone +1 305 200 8699 OUR APPROACH new investment ideas GLOBAL PRESENCE We are high-conviction, into practical investment Our global presence Web offshore.aberdeen-asset.us/usoffshore long-term investors that solutions that can offer real ensures we are always seek to realise the value of value. close to our clients and Chief Executive Officer Keith Skeoch our clients’ investments over the markets in which they Chief Executive Officer Martin Gilbert time. In our view, teamwork Following the global invest. Complementing this and collaboration between financial crisis, the value of is our joint venture in India, investment managers and global investment assets HDFC Asset Management across asset classes is the comprising ‘new active’ Company, in addition to Assets Under Management Client relationships offices Clients across key to delivering robust investment solutions – those a number of strategic investment performance. that focus on the partnerships across the US$ bn Countries We are also resolute in our specific outcomes that globe. These play a key role 735.5 46 80 commitment to active investors wish to achieve in our global distribution asset management. – has almost doubled. model and are an effective Investment professionals New active solutions way to support the needs of Strategic partners We recognise that the now represent almost our institutional, wholesale, 1,000+ in the UK, Japan, India, US,Canada, China and Australia investment landscape can half of all industry assets pension and retail clients. change rapidly and that managed globally and we

Data as 30 June 2018 our clients’ needs are are committed to further continuously evolving. With developing and delivering our global reach and scale, these solutions for our ABOUT US OUR HERITAGE The Aberdeen Standard we have the resources clients. Aberdeen Standard Our heritage dates back Investments brand was and expertise to transform Investments is a leading nearly two centuries. created in connection with global asset manager, Standard Life was founded in the merger of Aberdeen dedicated to creating long- 1825 and has grown through Asset Management Plc term value for our clients, innovation and diversification. and Standard Life Plc on ABERDEEN STANDARD INVESTMENTS INTERNATIONAL WEALTH MANAGEMENT TEAM as their investment needs In 1998, Standard Life 14 August 2017 to form are at the centre of all we Investments launched as a Standard Life Aberdeen Plc. Menno de Vreeze do. To achieve this, we offer separate company, rapidly The company’s headquarters Head of Business Development, International Wealth Management - Americas a comprehensive range of becoming a leading global are in Scotland and it is Tel: + 305 200 8699 / Mob: +1 917 856 9116 / [email protected] investment capabilities, asset manager. Aberdeen listed on the London Stock Damian Zamudio as well as the very highest Asset Management was Exchange. Aberdeen Senior Business Development Manager, International Wealth Management (New York and Southwest) level of service and formed in 1983 and has grown Standard Investments Tel: +1 212 776 1182 / Mob:+1 619 307 0919 / [email protected] support. from a pioneer investor in recently celebrated its Linda Cartusciello Asian and emerging markets 20th Anniversary in the Senior Business Development Manager, Latin America into a full-service investment Latin American Institutional Tel: + 1 215 260 5439 / [email protected] house. Business.

Important information. Past performance is not an indication of future results. The above is for informational purposes only and should not be considered as an offer, or solicitation, to deal in any of the in- Aberdeen Standard Investments (ASI) offers a variety of products and services intended solely for investors from certain countries vestments mentioned herein. Aberdeen Standard Investments (ASI) does not warrant the accuracy, adequacy or completeness or regions. Your country of legal residence will determine the products or services that are available to you. Nothing in this document of the information and materials contained in this document and expressly disclaims liability for errors or omissions in such should be considered a solicitation or offering for sale of any investment product or service to any person in any jurisdiction where such information and materials. solicitation or offer would be unlawful. Some of the information in this document may contain projections or other forward-looking statements regarding future events or future financial performance of countries, markets or companies. These statements are only predictions and actual events The information contained herein is intended to be of general interest only and does not constitute legal or tax advice and should not be or results may differ materially. The reader must make his/her own assessment of the relevance, accuracy and adequacy of considered as an offer, or solicitation, to deal in the shares of any securities or financial instruments. The reader must make his/her own the information contained in this document, and make such independent investigations as he/she may consider necessary or assessment of the relevance, accuracy and adequacy of the information provided and make such such independent investigations, as appropriate for the purpose of such assessment. he/she may consider necessary or appropriate for the purpose of such assessment. Any opinion or estimate contained in this document is made on a general basis and is not to be relied on by the reader as advi- ce. Neither ASI nor any of its agents have given any consideration to nor have they made any investigation of the investment objectives, financial situation or particular need of the reader, any specific person or group of persons. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of the 8 reader, any person or group of persons acting on any information, opinion or estimate contained in this document. 9 Key strengths:ex pertise where its matters most KKeeyy ssttrengrengtthshs:ex: ex ppererttisisee wwherehere iittss matmatttASSersersE T most mostMANAGER’S GUIDE ASSETASSASSE ETMANAGER’ST MAN MANAAGGEERR ’GUIDES’S G GUIDEUIDE Focus FFoocuscus

WhyWHY PARTNERpartner WITH with US? us? COMPANY INFORMATION WHYWHY PARTNER PARTNER WITH WITH US? US?

Headquarters

Allianz Global Investors 1633 Broadway. New York, NY 10019

Investment and Customized Global resources, Superior client Telephone 212-739-3000 advisoryInvestmentInvestment alpha and and solutionsCustomizedCustomized localGlobalGlobal delivery resources, resources, experienceSuperiorSuperior client client advisoryadvisory alpha alpha solutionssolutions locallocal delivery delivery experienceexperience Web us.allianzgi.com • Putting clients • Solving, • Sharing insights • Going the front•• Putting Putting and center clients clients not•• Solving, Solving,selling • Single•• Sharing Sharing global insights insights extra•• Going Going mile the the Director: Josh Sylvester, CFP®, CIMA® • Investingfrontfront and and with center center • Askingnotnot selling theselling investment•• Single Single global global extraextra mile mile Mobile: (530) 321-2535 - Email: [email protected] conviction•• Investing Investing with with relevant•• Asking Asking the the platforminvestmentinvestment convictionconviction questionsrelevantrelevant platformplatform questionsquestions

ACTIVE IS: CREATING AND SHARING VALUE Focused on INVESTMENTS DIVERSIFIED STRATEGIES ACROSSInvestments ASSET CLASSES Diversified Strategies Active is how we create and share value Active Management INVESTMENTSINVESTMENTS DIVERSIFIED DIVERSIFIED STRATEGIESSTRATEGIES with clients. We believe in solving, not AcrossACROSSACROSS AssetASSET ASSET CLASSES CLASSESClasses* Allianz Income and Growth selling. And in adding value beyond pure AllianzAllianz Income Income and and Growth Growth economic gain. We invest for the long- AllianzIncome Short Duration and Growth High Income • BROAD RANGE OF ASSET CLASSES 12% term, employing our innovative investment AllianzAllianz Short Short Duration Duration High High Income Income 12%12% 26% AllianzShort Europe Duration Equity Growth High Select Income expertise and global resources. Our goal • LARGE SPECTRUM OF INVESTMENT STYLES is to ensure a superior experience for our 26%26% AllianzAllianz Europe Europe Equity Equity Growth Growth Select Select AllianzEurope Global Artificial Equity Intelligence Growth Select clients wherever they are based and • A CULTURE OF RISK MANAGEMENT AllianzAllianz Global Global Artificial Artificial Intelligence Intelligence whatever their investment needs AllianzGlobal Dynamic Artificial Asian High Intelligence Yield Active is: Allianz Global Investors 26% AllianzAllianz Dynamic Dynamic Asian Asian High High Yield Yield AllianzDynamic Structured Asian Alpha High Yield 26%26% AllianzAllianzAllianz Dynamic Structured Structured Multi Asset Alpha Alpha Strategy Assets Under Management Investment Professionals Average PM Tenure Structured Alpha AllianzAllianzAllianz Global Dynamic Dynamic Multi-Asset Multi Multi Credit Asset Asset Strategy Strategy 621 US$ bn 730+ 10+ Years Dynamic Multi Asset Strategy AllianzAllianzAllianz Global Global Global High Multi-Asset YieldMulti-Asset Credit Credit 36% Global Multi-Asset Credit AllianzAllianz Global Global High High Yield Yield Countries Worldwide Relationship Managers Parent Company History 36%36% Allianz Global Floating Rate Notes Plus Global High Yield AllianzAllianzAllianz Global Global Global Equity Floating Floating Unconstrained Rate Rate Notes Notes Plus Plus Years Equities USD 163bn 25 670 125 Global Floating Rate Notes Plus AllianzAllianzAllianz European Global Global Equity Equity Equity Dividend Unconstrained Unconstrained FixedEquitiesEquities Income* USD USD USD 219bn 163bn 163bn Global Equity Unconstrained Multi-AssetFixedFixed Income* Income* USD USD USD 162bn 219bn 219bn AllianzAllianzAllianz US Fixed European European Income Equity Equity Dividend Dividend AlternativesMulti-AssetMulti-Asset USD USD USD 77bn 162bn 162bn AllianzEuropeanAllianz US US Fixed Fixed Equity Income Income Dividend

AlternativesAlternatives USD USD 77bn 77bn US Fixed Income

*Data as of September 30, 2018 **Includes money market Source: Allianz Global Investors

The content of this communication is not intended for the retail investor or for the wealth management professional who’s clients are residents of the U.S. This is for guidance only and it is not a recommendation or investment advice to buy or sell any particular securities. Investing involves risk. The value of an investment and the income from it may fall as well as rise and investors might not get back the full amount invested. Past performance is not a reliable indicator of future results. This is a marke- ting communication issued by Allianz Global Investors GmbH, www.allianzgi.com, an investment company with limited liability, incorporated in Germany, with its registered office at Bockenheimer Landstrasse 42-44, 60323 Frankfurt/M, registered with the local court Frankfurt/M under HRB 9340, authorised by Bundesanstalt für Finanzdienstleistung- # saufsicht (www.bafin.de). 10 11##

ASSET MANAGER’S GUIDE

Amundi Pioneer Asset Management:

Our Dedicated U.S. Offshore Team

GlobalGlobal Scope, Scope, Local Local Roots. Roots. At Amundi Pioneer, we business. With clients With a physical presence have an established across Latin America, in Miami, Florida since and sophisticated sales Canada and the Caribbean, August 2001, the team’s

team dedicated to the the team balances collaborative coverage International or Offshore presenting timely and focus on availability to audience, extending into investment solutions and clients, is one of our core the Americas beyond the updates, with high quality strengths. domestic United States service and support. AA A mund mundimundi i issi i EuEurope’ss Europerope’ s ’las rlagergesmarkett sats asesse texpertise managet manage andr br yab ays asetssetsand undes unde enhancedr managementr management services andandlargest ranks ranks asset in inthe manager the top top 10 by101 globally. 1 globally.full range Thanks Thanks of capabilities to to the the integration integrationand toolsof of Pioneer toPioneer its clients. Investments,Investments,assets under it management itnow now manages manages across 1.4 1.47070 the trillion trillion active,2 euros2 passiveeuros of of assets assetsThanks across across to its six uniquesix main main SALES DESK 1-305-982-1553 1 and ranks in the 3top3 10 and real assets investment research capabilities investmentinvestment hubs hubs. Amundi. Amundi offers offers its its clients clients in inEurope, Europe, Asia Asia-Pacific,-Pacific, the the EMAIL [email protected] globally. Thanks to the universes. Headquartered and the skills of close to MiddleMiddle-East-East and and the the Americas Americas a wealtha wealth of of market market expertise expertise and and a fulla full range range integration of Pioneer in Paris, and listed since 4,500 team members and ofof capabilities capabilities across across the the active, active,November passive passive 2015, and andAmundi real real assets is assets market investment investment experts based universes.universes.Investments, Headquartered Headquartered it now in inParis,the Paris, largest and and assetlisted listed manager since since November Novemberin 37 countries, 2015 2015, Amundi, AmundiAmundi is ismanagesthe the largest largest 1.470 asset trillionasset manager 2 manager inin Europe inEurope Europe by bymarket by market market capitalization capitalizationprovides retail,4. 4. institutional 4 euros of assets across six capitalization . and corporate clients with main investment hubs3. innovative investment LeveragingLeveraging the the benefits benefits of of its its increased increased sco scopepe and and size, size, Amundi Amundi has has Amundi offers its clients Leveraging the benefits strategies and solutions thethein abilityEurope, ability to Asia-Pacific, to offer offer new new and and enhancedof enhanced its increased services services scope and and tools toolstailored to to its its toclients. clients.their needs, ThanksThanksthe Middle-East to to its its unique unique and theresearch research and capabilities capabilities size, Amundi and andhas the the skills skills targetedof of close close outcomesto to and 4,5004,500Americas team team a wealthmembers members of and and market marketthe ability experts experts to offer based basednew in in37 37 countries,risk countries, profiles. AmundiAmundi provides provides retail, retail, institutional institutional and and corporate corporate clients clients with with innovativeinnovative investment investment strategies strategies and and solutions solutions tailored tailored to to their their needs, needs, targetedtargeted outcomes outcomes and and risk risk profiles. profiles.

1 Source1 Source IPE IPE “Top “Top 400 400 asset asset managers” managers” published published in Junein June 201 2018 and8 and based based on onAUM AUM as asof endof end December December 201 2017. 7. Unless otherwise stated all information and views expressed are those of Amundi Pioneer as at December 12, 2 2 2018. These views are subject to change at any time based on market and other conditions and there can be AmundiAmundi figures figures as asof Septemberof September 30, 30, 201 2018 8 no assurances that countries, markets or sectors will perform as expected. Investments involve certain risks, 3 3 InvestmentInvestment hubs: hubs: Boston, Boston, Dublin, Dublin, London, London, Milan, Milan, Paris Paris and and Tokyo Tokyo including political and currency risks. Investment return and principal value may go down as well as up and could 1. Source IPE “Top 400 asset managers” published in June 2018 and based on AUM as of end December 2017. 4 Based4 Based on onmarket market capitalization capitalization as asof Septemberof September 30, 30, 201 2018 8 result in the loss of all capital invested. 2. Amundi figures as of September 30, 2018 Amundi Pioneer Distributor, Inc., 60 State Street, Boston, MA 02109 (“APD”), a U.S.-registered broker-dealer, provi- 10 10 3. Investment hubs: Boston, Dublin, London, Milan, Paris and Tokyo des marketing services in connection with the distribution of products managed by Amundi Asset Management 4. Based on market capitalization as of September 30, 2018 or its affiliates. APD markets these products to financial intermediaries, both within and outside of the U.S. (in jurisdictions where permitted to do so) for sale to clients who are not United States persons.

12 13 ASSET MANAGER’S GUIDE

INVESTMENT PHILOSOPHY: Our well-established invest- FUND PERFORMANCE PERSPECTIVE ADVANTAGE ment approach provides a The following tables show the COMPANY INFORMATION global perspective advantage percentage of funds mana- We believe that we can deli- that enables us to deliver the ged by Threadneedle Asset Head office ver strong risk-adjusted investment outcomes our Management Ltd* that have returns for our clients clients want. outperformed their stated Columbia Threadneedle Investments through: benchmark (either peer group This perspective advantage or index) over 1, 3 and 5 years. Cannon Place, 78 Cannon Street Country Head • An active approach that is gained by combining macro London, EC4N 6AG Iberia y LatAm takes advantage of market and micro insights with an Weighted by current assets inefficiencies. active approach to portfolio under management** 80%

Rubén García Páez • Our global perspective construction. Independent of funds have outperformed advantage – the combi- thinking, rigorous debate and over 1 year, over 3 years Telephone +562 2364 4235 Fund performance 72% nation of macro and micro sharing of ideas balanced and 83% over 5 years. The followinginsights. tables show the percentagewith ofa disciplinedfunds managed approach by Threadneedle Asset Management Ltd* Email [email protected] [email protected] that• haveThe outperformed appropriate allocationtheir stated benchmarkto risk ensures (either we peer can group deliver or index) over 1, 3 and 5 years. Web www.columbiathreadneedle.com of risk. better informed investment Weighted by current assets under management**decisions for 80 our% ofclients. funds have outperformed over 1 year, 72% over 3 years and 83% over 5 years. Columbia Threadneedle Investments is a leading global asset manager. % of funds outperforming over We know investors want strong and repeatable risk-adjusted returns and we Category 1 yr 3 yrs 5 yrs aim to deliver this through an active and consistent investment approach All equity funds 73% 64% 81% that is team-based, risk-aware and performance-driven. All fixed income funds 91% 87% 85%

BETTER INSIGHTS a collaborative environment tutions. We are committed to All multi-asset and managed funds 63% 60% 89% enriches our teams’ first class client service Our talented investment investment processes to and investment excellence. ByBy number number of offunds, funds, 75 %75% have have outperformed outperformed over over 1 year, 1 year, 66% 66% over over 3 years 3 years and 78and% 78%over over5 years. 5 years. teams around the world work ensure our best insights are We have a dedicated team of together to uncover invest- applied to portfolios. More more than 2,000 colleagues % of funds outperforming over ment insights. By sharing importantly, it results in across the globe, all knowledge across asset better-informed decisions for with a common goal. Your Category 1 yr 3 yrs 5 yrs classes and geographies we our clients. success is our priority. are able to generate richer All equity funds 67% 59% 81% perspectives on global, BETTER OUTCOMES Columbia Threadneedle All fixed income funds 78% 69% 70% regional and local investment Our broad range of invest- Investments is the global landscapes. ment strategies and solutions asset management group of All multi-asset and managed funds 68% 52% 83% are designed to meet the Ameriprise Financial, Inc. BETTER DECISIONS evolving needs of our (NYSE:AMP), a leading US-ba- *All funds managed by Threadneedle Asset Management Limited, including segregated accounts/portfolios. The data does not include funds sub-advised by third parties or guest funds on a Columbia Threadneedle Investments platform. All figures are as at 30 September 2018, in GBP. The ability to exchange and clients, whether they are sed financial services provi- **Total value of funds outperforming their relevant benchmark expressed as a percentage of total assets under management. debate investment ideas in individuals, advisers or insti- der. Past performance is not a guide to future performance. Where fund performance is relative to the Peer Group Median (source: Morningstar), performance of funds is calculated using official prices with income reinvested, and is net of assumed fees and expenses but does not include any initial charges.Director Where fund performance South is America relative to an index, Sales, performance Latin is gross Americaof total expenses and uses global close authorised valuations based on in-house calculated transactions- with cash flow at start of day. Index returns assume reinvestment of dividends and capital gains and unlike fund returns do not reflect fees or expenses. The index is unmanaged and cannot be invested in directly.Santiago Zarazua This information aims to demonstrate the overall performance capabilities of Columbia Threadneedle Investments’ EMEA asset management team. It is not intended to indicate the performance of KEY FACTS AND FIGURES individual funds or products. Please refer to product specific documentation in relation to individual funds. [email protected] • AUM: US$485 billion1.

1 • 56% Equities, 36% Fixed Income, 8% Other • More than 20 independent affiliated asset managers offering more

than 200 investment strategies *All funds managed by Threadneedle Asset Management Limited, including segregated accounts/portfolios. The data does not

• Ranking by AUM: Top 40 globally2, top 30 in Europe2, no. 8 in UK Overall3, include funds sub-advised by third parties or guest funds on a Columbia Threadneedle Investments platform. All figures are as at 30 September 2018, in GBP. 4 top 15 manager of long-term mutual funds in the US . **Total value of funds outperforming their relevant benchmark expressed as a percentage of total assets under management. Past performance is not a guide to future performance. Where fund performance is relative to the Peer Group Median (source: Morningstar), performance of funds is calculated using official prices with income reinvested, and is net of assumed fees and expenses but does not include any initial charges. Where fund performance is relative to an index, performance is gross of total expenses and uses global close authorised valuations ba- sed on in-house calculated transactionswith cash flow at start of day. Index returns assume reinvestment of dividends and ca- pital gains and unlike fund returns do not reflect fees or expenses. The index is unmanaged and cannot be invested in directly.

This information aims to demonstrate the overall performance capabilities of Columbia Threadneedle Investments’ EMEA asset management team. It is not intended to indicate the performance of individual funds or products. Please refer to product specific documentation in relation to individual funds. 14 15

To find out more visit columbiathreadneedle.com

Important information: Past performance is not a guide to future performance. The value of investments and any income is not guaranteed and can go down as well as up and may be affected by exchange rate fluctuations. This means that an investor may not get back the amount invested. Your capital is at Risk. This material is for information only and does not constitute an offer or solicitation of an order to buy or sell any securities or other financial instruments, or to provide investment advice or services. Issued by Threadneedle Asset Management Limited (TAML). Registered in England and Wales, Registered No. 573204, Cannon Place, 78 Cannon Street, London EC4N 6AG, United Kingdom. Authorised and regulated in the UK by the Financial Conduct Authority. This document is distributed by Columbia Threadneedle Investments (ME) Limited, which is regulated by the Dubai Financial Services Authority (DFSA). This document is intended to provide distributors with information about Group products and services and is not for further distribution and is not intended as financial advice. 1AUM of $485 billion includes the combined assets under management of the Columbia and Threadneedle group of companies as at 30 September 2018. Source: Ameriprise Financial, Inc. Q3 2018 earnings release. 2IPE ‘The Top 400 Asset Managers’ survey June 2018. 3UK IA Ranking – Total retail and institutional funds under management including OEICs, Unit Trusts, PEPs and ISAs as at May 2018. 4ICI, as at August 2018. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.

© 2018 Columbia Management Investment Advisers, LLC. All rights reserved.

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ASSET MANAGER’S GUIDE

DIMENSIONAL FUND ADVISORS shane.cunningham@ Paul Southgate LARRAINVIAL ASSET Palisades West, 6300 Bee Cave Road franklintempleton.com Sales Manager MANAGEMENT Building One [email protected] 990 Biscayne Boulevard Austin, TX 78746 GAM O-901 Tel: +(1) 512 306 5917 One Rockefeller Plaza J.P. MORGAN ASSET Miami FL, 33132 21st Floor MANAGEMENT Sebastián Véliz Javier Arriagada New York, NY 10020 270 Park Avenue 23rd Floor [email protected] Regional Director - Latin America & Offshore Tel: +(1) 212 407 4610 23rd Floor Tel: +573176391825 [email protected] New York, NY 10017 Carmen van Roon Pence Tel: +(1) (305) 742 3088 Juan Andres Pinilla DOUBLELINE CAIA [email protected] 333 South Grand Avenue Director - Intermediary Sales John H. Oestreicher Tel: +(1) 917 767 4052 18th Floor [email protected] Executive Director Los Angeles, CA USA [email protected] LEGG MASON GLOBAL ASSET Tel: +(1) 646 675 3042 Andrea Vaitukaitis MANAGEMENT Director – Intermediary Sales Philip Judson 1395 Brickell Ave Joel Peña [email protected] Executive Director - Head of Offshore Suite 1550 US Offshore, Canada & Latin America [email protected] Miami, FL 33131 [email protected] GOLDMAN SACHS Tel: +(1) 305 529 4400 Madrid JUPITER ASSET MANAGEMENT* US Toll Free: +(1) 866 534 4627 Tel: +(34) 91 700 6000 DWS The Zig Zag Building 345 Park Avenue 70 Victoria Street Lars Jensen 25th floor Lucia Catalán London, SW1E 6SQ Head of Americas New York, NY 10054 Head of Iberia & Latin America Third Tel: +44 (0) 20 3817 1000 International Tel: +(1) 212 454 0285 Party Distribution LMIAmericasClientServicesSales@ [email protected] William Lopez leggmason.com Jesús Martín del Burgo Head of Latin America and US Offshore Head of coverage Latin America and US INVESTEC ASSET MANAGEMENT [email protected] LORD ABBETT Offshore 666 Fifth Avenue 90 Hudson Street [email protected] 37th Floor LA FRANÇAISE Jersey City, NJ 07302-3973 New York, NY 10103 Castellana 92 Tel: +(1) 201 827 4266 Tel: +(1) 917 206 5179 EATON VANCE 28046 Madrid Two International Place Tel: +(34) 91 76 97 902 Martin Hofstadter Boston, MA 02110 Richard Garland Director US Offshore - Tel: +(1) 305 240 1920 Managing Director, Global Advisor Gerardo Duplat The Americas [email protected] Head of Business Development Iberia & [email protected] Juan Garcia Latin America Associate Regional Sales Representative JANUS HENDERSON INVESTORS [email protected] MAN GROUP Offshore Specialist London London / Montevideo [email protected] Tel: +(44) 207 818 6458 LAZARD ASSET MANAGEMENT Riverbank House, 2 Swan Lane 30 Rockefeller Plaza London EC4R 3AD FRANKLIN TEMPLETON Ignacio De La Maza New York, NY 10112 United Kingdom One Franklin Parkway Head of Continental Europe Wholesale Tel: +(1) 212 632 1325 Tel. +44 207 144 3377 Building 970, 1st Floor & LatAm Cel: +(1) 732 325 5899 San Mateo, CA 94403 [email protected] Gadi Slamovitz Tel: +(1) 800 239-3894 Eduardo Mora Managing Director, Albert Maruri North America Offshore Distribution Latin America Shane Cunningham Director Offshore [email protected] [email protected] National Sales Manager US Offshore Sales [email protected]

*Distributed by Unicorn Strategic Partners 16 17 Los Angeles Office: DoubleLine is an independent, employee owned money U.S. $123bn Performance of select US equi�es indices. 333 South GrandLos Angeles Avenue Office: management firmDoubleLine headquartered is an inindependent, Los Angeles employee County, owned invested money U.S. $123bn Performance of select US equi�es indices. Shiller Barclays CAPE® US Core Sector 5 Sectors not in Shiller Barclays CAPE® 18th Floor 333 South Grand Avenue S&P 500 TR management firm headquartered in Los Angeles County, invested AUM as of Gross TR USD Index NoC US Core Sector Gross TR USD Index NoC across a wide range of strategies managed by an experienced team of Shiller Barclays CAPE® US Core Sector 5 Sectors not in Shiller Barclays CAPE® 18th Floor $8.00 Mean Return 13.84% 9.20% S&P 500 TR 11.21% Los Angeles, CA AUM as of Gross TR USD Index NoC US Core Sector Gross TR USD Index NoC across a wide range of strategies managed by an experienced team of Geometric Return 13.14% 7.66% 9.98% portfolio managers that have worked together for over 15 years. $8.00 Mean Return 13.84% 9.20% 11.21% Los Angeles, CA 30/09/18 Standard Devia�on 17.27% 19.06% 18.38% +1-213-633-8388 portfolio managers that have worked together for over 15 years. Geometric Return 13.14% 7.66% 9.98% +1-213-633-8388 30/09/18 SSthanadrpared R Dae�voia�on 17.27%0.73 19.06% 0.41 18.38% 0.54 Sharpe Ra�o 0.73 0.41 0.54 8 1 0 8 2 1 We believe that the longer a team has worked together, the more the employees

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CityWire , USA in 2016 and 2018 For more information please email [email protected] DoubleLine Capital was named For more information please email The DoubleLine Short The DoubleLine Shiller Risk Magazine’s “Institutional [email protected] DoubleLine Capital was named Duration UCITS seeks income ® Investor of the Year” Shiller The DoubleLine Short EnhancedThe DoubleLine CAPE UCITS Shiller Risk Magazine’s “Institutional with reduced volatility, incorporating Enhanced CAPE® in 20163 Duration UCITS seeks income usesEnhanced the Cyclically Adjusted CAP E® UCITS Investor of the Year” Shiller active asset allocation across fixed 3 with reduced volatility, incorporating Price-to-Earningsuses the Cyclically (CAPE) Adjustedratio Enhanced CAPDoubleLineE® in 2016 Founder, Jeffrey income sectors using short duration active asset allocation across fixed developed by Dr. Robert Shiller. The Gundlach named: securities, including a mix of fixed and Price-to-Earnings (CAPE) ratio income sectors using short duration primary generator of potential return DoubleLine Founder, Jeffrey floating rate products while Gundlach named: Bloomberg Market’s magazine developed by Dr. Robert Shiller. The “50 Most Influential” in 2012, securities,maintaining including a balance abetween mix of creditfixed and will be the value approach to 4 primary generator of potential return Bloomberg Market’s 2015 magazine and 2016 floatingand interest rate rate products risk. The while fund invests large-cap stocks, implemented via the maintainingprimarily in U.S. a balance Governments, between credit Shillerwill Barclays be the CAPvalueE® approach U.S. Core to “50 Most Influential” Forbes in 2012,“Most Powerful People” 4 5 Jeffrey E. Gundlach Jeffrey Sherman Agency and Non-Agency Sectorlarge-cap Net ER USD stocks, Index implemented via the 2015 and 2016 in 2014 CEO & CIO Deputy CIO and interest rate risk. The fund invests mortgage-backed securities, primarily in U.S. Governments, (the “CAPE”Shiller BarclaysIndex)6. The CAP strategyE® U.S. will Core Forbes “Most Powerful People” commercial MBS, Corporate debt, 5 Jeffrey E. Gundlach Jeffrey Sherman Agency and Non-Agency also Sectoraim to earn Net return ER USD from Index the fixed in 2014 CEO & CIO Deputy CIO International Fixed Income and Barclays Bank PLC and its affiliates ("Barclays") is not the developer or implementer of the DoubleLine 1. Managers were chosen based on factors including long and short-term mortgage-backed securities, income collateral which looks6 to DoubleLine Funds (Luxembourg) performance in their specific categories, individual strategies and their Emerging Markets maintaining a (the “CAPE” Index) . The strategy will Shiller Enhanced CAPE ® strategy (the “Strategy”) and Barclays has no responsibilities, obligations or length of time in the business. All funds considered were led by single duties to investors in the Strategy. The Shiller Barclays CAPE® US Sector ER USD Index (the “Index”) managers. commercial MBS, Corporate debt, outperform cash. This is a “Double is a trademark owned by Barclays Bank PLC and licensed for use by DoubleLine. While DoubleLine c/o HSBC Bank plc, Luxembourg 2. CityWire reviewed women with the top-quartile absolute returns in their duration of 0-3 years to mitigate also aim to earn return from the fixed may execute transaction(s) with Barclays in or relating to the Strategy or the Index, investors acquire particular disciplines over the preceding three years. The top 20 were branch (HBEU LXG) interests solely in their account and investors neither acquire any interest in the Strategy or the Index those with the highest risk adjusted returns over that period. Internationalvolatility and achieve Fixed Incomebetter risk and Value” proposition for better nor enter into any relationship of any kind whatsoever with Barclays upon making an investment. The Barclays Bank PLC and its affiliates ("Barclays") is not the developer or implementer of the DoubleLine 1. Managers3. were Banks chosen and other based service on providers factors includingare encouraged long andto nominate short-term investors income collateral which looks to Attention: Transfer Agency Strategy is not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no performance that in have their made specific significant categories, gains throughindividual their strategies use of structured and their DoubleLine Funds (Luxembourg) Shiller Enhanced CAPErepresentation ® strategy regarding(the “Strategy”) the advisability and Barclays of investing has inno the responsibilities, Strategy or the useobligations of the Index or or any data derivatives, who can demonstrate best practice in risk management Emergingadjusted returns. Markets maintaining a risk-adjusted returns. length of time using in innovativethe business. structures, All funds or who considered have executed were an led innovative by single trade. duties to investors in theincluded Strategy. therein. The Barclays Shiller shallBarclays not be CAPE® liable in USany Sectorway to investors ER USD or Index to other (the third “Index”) parties in respect of managers. outperform cash. This is a “Double 16, Boulevard d’Avranches is a trademark owned theby Barclaysuse or accuracy Bank ofPLC the andStrategy, licensed the Index for use or any by dataDoubleLine. included therein. While DoubleLine 4. Bloomberg Markets 50 Most Influential magazine editors favor recent c/o HSBC Bank plc, Luxembourg 2. CityWire reviewed accomplishments women withabove the lifetime top-quartile achievements absolute to build returns their inlist. their They duration of 0-3 years to mitigate may execute transaction(s) with Barclays in or relating to the Strategy or the Index, investors acquire The Shiller Barclays CAPE® US Index Family (the “Index Family”) has been developed in part by particular disciplines rely on the rankings,over the profiles,preceding and three cover years.stories Thethey publishtop 20 throughoutwere L-1160 Luxembourg those with the yearhighest in Bloomberg risk adjusted Markets. returns #21 over that period. branch (HBEU LXG) interests solely in theirRSBB-I, account LLC, and the investors research neither principal acquire of whom any is Robert interest J. Shiller.in the StrategyRSBB-I, LLC or the is not Index an investment volatility and achieve better risk Value” proposition for better nor enter into any relationship of any kind whatsoever with Barclays upon making an investment. The 3. Banks and5. listother measuring service power providers in four are dimensions: encouraged 1) Power to nominate over lots ofinvestors other Tel: +352 40 46 46 766 advisor and does not guarantee the accuracy and completeness of the Index Family or any data or people, 2) Financial resources controlled by each person measuring Attention: Transfer Agency Strategy is not sponsored,methodology endorsed, either sold included or promoted therein or by upon Barclays which itand is based. Barclays RSBB-I, makes LLC no shall have no liability for that have made company’s significant assets gainsand revenues. through 3) their Powerful use ofin structuredmultiple spheres or areas risk-adjusted returns. representation regardingany theerrors, advisability omissions of or investing interruptions in thetherein Strategy and makes or the no use warranties of the Indexexpressed or any or implied,data as to the derivatives, 4) who Candidates can demonstrate actively using best that practice power. A in panel risk ofmanagement Forbes editors ranked adjusted returns. Fax: +352 27 02 53 80 using innovative all candidates structures, in each or whoof these have four executed dimensions an ofinnovative power, and trade. those included therein. Barclaysperformance shall not or be results liable experienced in any way by to any investors party from or tothe other use of third any informationparties in respect included of therein or individuals rankings were averaged into a composite score. 69 of 74. 16, Boulevard d’Avranches the use or accuracy ofupon the Strategy,which it is thebased, Index and or expressly any data disclaims included all therein. warranties of the merchantability or fitness for a 4. Bloomberg Markets 50 Most Influential magazine editors favor recent Email: transferagency@lu.hsbc.com particular purpose with respect thereto, and shall not be liable for any claims or losses of any nature in accomplishments6. If more efficientabove lifetimeor cost effective achievements to the Sub-Fund, to build theirthe Investment list. They Doublelineucits.com/shiller-enhanced-cape/ rely on the Managerrankings, may profiles, execute and the cover financial stories derivative they instrumentpublish throughout trades L-1160 Luxembourg The Shiller Barclays CAPE®connection US with Index the Family use of such(the information,“Index Family”) including has butbeen not developedlimited to, lost in profitspart by or punitive or the year in byBloomberg using excess Markets. return versions#21 of the Index which incorporate 18Email: [email protected] RSBB-I, LLC, the researchconsequential principal damages of whom even, is Robert if RSBB-I, J. Shiller. LLC is advisedRSBB-I, of LLC the possibilityis not an ofinvestment same. the financing component of the index replication transactions. Doublelineucits.com/short-duration/ 19 5. list measuring power in four dimensions: 1) Power over lots of other Tel: +352 40 46 46 766 advisor and does not guarantee the accuracy and completeness of the Index Family or any data or people, 2) Financial resources controlled by each person measuring methodology either included therein or upon which it is based. RSBB-I, LLC shall have no liability for company’s assets and revenues. 3) Powerful in multiple spheres or areas any errors, omissions or interruptions therein and makes no warranties expressed or implied, as to the 4) Candidates actively using that power. A panel of Forbes editors ranked Fax: +352 27 02 53 80 all candidates in each of these four dimensions of power, and those performance or results experienced by any party from the use of any information included therein or individuals rankings were averaged into a composite score. 69 of 74. upon which it is based, and expressly disclaims all warranties of the merchantability or fitness for a Email: [email protected] 6. If more efficient or cost effective to the Sub-Fund, the Investment Doublelineucits.com/shiller-enhanced-cape/ particular purpose with respect thereto, and shall not be liable for any claims or losses of any nature in Manager may execute the financial derivative instrument trades connection with the use of such information, including but not limited to, lost profits or punitive or by using excess return versions of the Index which incorporate Email: [email protected] consequential damages even, if RSBB-I, LLC is advised of the possibility of same. the financing component of the index replication transactions. Doublelineucits.com/short-duration/ ASSET MANAGER’S GUIDE

• Total Return Unconstrained meet individual client kind infrastructure debt COMPANY INFORMATION Multi-Asset requirements & guidelines structured credit fund • Multi-Asset Income • Strong capabilities to • Liquid real assets investing, Corporate Office - Americas • ESG solutions integrate ESG into passive including global real portfolios estate and infrastructure DWS - 345 Park Ave. 25th Floor, New York, NY 10154 Passive • Fixed Income Smart Beta securities, as well as • Physical replication of Solutions: 4C Quality commodities Telephone (800) 621-1148 equity and fixed income Weighting for Sovereigns & • Sustainable investing benchmarks since 1999 Yield Plus for Corporates platform, founded more E-mail [email protected] • Complementary offering than 20 years ago, offering Web www.dws.com of vehicles: ETFs, ETCs, Alternatives private debt/equity segregated accounts, other • Direct core equity and • Private equity co-blended pooled investment vehicles debt real estate investing funds, co-investment • Core ETF range: major expertise with dedicated opportunities and bespoke benchmark, low fees, global resources account solutions A partner dedicated to transforming ideas into physical replication • Direct equity and debt • Customized hedge fund solutions and translating opportunity into results. • Customization: Adjusting infrastructure capabilities: investment solutions, niche the benchmark and Pan European infrastructure private credit and co- the passive portfolio to funds; launched first of its investments. WHAT IS DWS?

• A multi-sector credit specialist. We believe global fixed income markets are inefficient, and that unique opportunities can be exploited through a rigorous, research-driven DWS Latin America & US Offshore distribution team approach. • A global equity specialist. We believe investors deserve transparency regarding alpha Jesús Martín del Burgo Salvador Gómez targets and related risks. We rigorously apply an objective, risk-managed process. Head of Global Client Group, Head of Product, • A solutions-based thought leader in index-based investing. We believe investors Latin America & US Offshore Latin America & US Offshore deserve efficient market access and effective solutions to capture risk-adjusted +1(212)454-0285 +1(212)250-8964 [email protected] [email protected] opportunities, wherever they may be. • A well-established alternatives investment manager. We believe alternatives are an essential complement to traditional stock and bond allocations. Our 45 years of experience informs a disciplined approach to evaluating and capitalizing on opportunities. Aiviel Sánchez Mary Wallace • A pioneer in responsible investing. We believe that where and how an investor allocates Global Client Group Global Client Group assets can make a significant difference—not only for portfolios but for the world and +1(212)454-0227 +1(212)454-1262 [email protected] [email protected] future generations. We have more than 20 years of experience in Corporate Governance and microfinance, and solutions that encompass the entire ESG spectrum.

A POWERFUL SET OF analysts and investment alternative strategies. Stella Gonzalesvigil Ana Ng CREDENTIALS professionals on the ground, Global Client Group Global Client Group While our name is new, our all around the world. OUR STRENGTHS +1(212)454-0064 +1(904)271-2812 mission is the same: To create Active [email protected] [email protected] unique investment solutions A broad range of capabilities • Global equity income: for unique needs. DWS serves Precise product design and dividend strategies clients worldwide with a full execution have long been • Strength in European & spectrum of traditional and hallmarks of our strategies. German equity alternative capabilities We believe every part of the • Small/mid cap equity Europe investment process should • Money Market and Ultra For institutional use and registered representative use only. Not for public viewing or distribution. increase the probability of Short Duration A GLOBAL FOOTPRINT Investments in mutual funds involve risk. Stocks may decline in value. Bond investments are subject to interest-rate, credit, liquidity and market risks to Most “global” asset managers success. At DWS we manage • Corporate credit: varying degrees. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing in derivatives entails special risks re- lating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Investing in foreign securities, particularly those of emerging markets, are based in the U.S. with a variety of strategies across Investment-grade (Euro and presents certain risks, such as currency fluctuations, political and economic changes, and market risks. There are additional risks associated with investing in regional and international commodities, high-yield bonds, aggressive growth stocks, non-diversified/concentrated funds and small- and mid-cap stocks which are more fully explained satellite offices in some major US), High Yield (Euro, Global), in the prospectuses. Please read the prospectus for more information. foreign markets. DWS is based equity and fixed income, Asian credit, corporate Xtrackers ETFs (“ETFs”) are managed by DBX Advisors LLC or DBX Strategic Advisors LLC (the “Advisors”), and distributed by ALPS Distributors, Inc. (“ALPS”). in Europe, with economists, as well as passive and hybrids, Multi-Credit The Advisors are wholly owned subsidiaries of DWS Group, and are not affiliated with ALPS. ETFs: Shares of the funds may be sold throughout the day on the exchange through any brokerage account. However, shares may only be purchased and redeemed directly from the funds by authorized participants in very large creation/redemption units. There is no assurance that an active trading market for shares of a fund will develop or be maintained. One cannot invest directly in an index. Investment products: No bank guarantee | Not FDIC insured | May lose value. The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services. © 2018 DWS Group GmbH & Co. KGaA. All rights reserved. I-063115-1 20 21 ASSET MANAGER’S GUIDE

London, Cambridge, Zurich, across asset classes and innovation. Our constant COMPANY INFORMATION Hong Kong, New York, Lugano styles, with core capabilities drive to look forward and to and Milan. in fixed income, equities, adapt to the needs of our systematic, absolute return, clients helps us to capitalise GAM USA Inc. Telephone +1 (0) 212 407 4610 COMPREHENSIVE alternatives and multi asset on our strengths, addressing One Rockefeller Plaza, 21st Floor Website www.gam.com PRODUCT RANGE class solutions. secular industry trends with New York, NY 10020, USA E-Mail [email protected] Over more than three innovative, appropriate decades, we have developed PRODUCT INNOVATION solutions. a comprehensive range of We have always placed a active investment strategies strong emphasis on product

BROAD RANGE OF TRADITIONAL AND ABSOLUTE RETURN STRATEGIES

Absolute return Fixed income Equity Alternatives Multi asset Systematic

Fixed income Developed mkts Developed mkts Alternative Target return Alternative risk Europe Asia-Pacific Investments Defensive premia Macro/managed Global Europe Solutions Core futures Inflation linked Global Multi strategy Plus Diversified North America Japan FoHF Macro Currency & North America Single strategy Flexible Quantitative commodities Emerging mkts Advisory Benchmark multi strategy Blend Emerging mkts solutions constrained Equity long/ Credit Asia Benchmark Equity long/ GAM Investments is one of the world’s leading independent, pure-play asset short Hard currency Eastern Europe Commodities unconstrained short managers. We provide active investment solutions and products for institutions, Emerging Local currency Global Commodities Market neutral markets Inflation linked futures Risk rated financial intermediaries and private investors. Europe Thematic Physical metals Defensive Global Specialist Energy Cautious Thematic ABS/MBS Healthcare Balanced Cat bonds Luxury brands Growth Convertibles Technology Dynamic O ur core investment INDEPENDENT to maximise the potential of Credit/high yield business is complemented As an independent asset their portfolios by developing Real estate debt by private labelling services, manager we are able to their own high-conviction Trade Finance which include management pursue and develop our views of the markets. company and other support business without many services to third-party of the constraints or GLOBAL PRESENCE institutions. pressures typically faced AND REACH Tomás del Campo Carmen van Roon Pence, Andrea Vaitukaitis by asset managers that are With over 900 people in 14 Client Manager CAIA Director – Interm. Sales embedded in large financial countries, we are a truly T +34 (0) 91 140 0714 Director – Interm. Sales T +1 (0) 212 407 4605 [email protected] T +1 (0) 212 407 4610 [email protected] Our team consists of around conglomerates. We believe global firm in scale and [email protected] 186 investment professionals this makes us an attractive resources, yet small enough covering an extensive range home for investment talent. to remain nimble and flexible to meet clients’ needs. We Carlos Costales Juan Ramón Caridad, José Pedro Jácome of investment styles, asset Country Head Iberia CAIA, MFIA Client Director classes and markets. Our processes and structures support our growth with an + LatAm Country Head Iberia + LatAm T +44 (0) 20 7917 2539 are designed to foster extensive global distribution T +34 (0) 91 140 0715 T +34 (0) 91 140 0717 [email protected] [email protected] [email protected] For 35 years we have independent thinking and network which includes employed an active swift decision making within sales, marketing, product investment management a tightly controlled risk development and product Isabel Navalon Carlos Álvarez García, MFIA Ana Maria Servia Blanco approach based on original framework. Our investment management. Client Support Executive Client Manager Office Manager teams do not adhere to T +34 (0) 91 140 0716 T +34 (0) 91 140 0718 T +34 (0) 91 140 0723 thought, freedom of action [email protected] [email protected] [email protected] and true conviction investing. a particular ‘house style’. Our investment professionals Instead, they are encouraged work from the global hubs of

Important legal information The information in this document is given for informational purposes only and does not qualify as investment advice. Opinions and assessments contained in this document may change and reflect the point of view of GAM in the current economic environment. No liability shall be accepted for the accuracy and completeness of the information. Past performance is no indicator for the cu- rrent or future development. Investments should be made only after thorough reading of the current statutory prospectus and/or the fund regulations, the KIID, the articles of association and the current annual and semi-annual report and following advice from an independent finance and tax specialist. 22 23 ASSET MANAGER’S GUIDE

Assets diversified 4% COMPANY INFORMATION across products 9%

Head office 14% Equities...... US$R 199.2bn I Janus Henderson Investors Fixed Income...... US$ 74.5bn 53% 201 Bishopsgate - London - EC2M 3AE R United Kingdom Quantitative Equities.....US$ 52.9bn CEO I Multi-Asset...... US$ 34.6bn 20% Email [email protected] Dick Weil Alternatives...... US$ 16.9bn Web www.janushenderson.com R I

with core capabilities in such as Absolute Return Inco- power of sharing knowledge. • Ignacio de la Maza / Head Continental Europe Wholesale & LatAm Global Equities, Quantitative me, UK Absolute Return and This philosophy is hardwired • Paul Brito / Director of Sales, North America Offshore Equities, Global Fixed Income, Global Market Neutral. There throughout the organisation, • María Cordova / Sales Manager, US Offshore and Panama Multi-Asset and Alternatives. is also a range of multi-asset through the investment plat- • Paul Southgate / Sales Manager, Iberia and LatAm solutions such as the Balan- form and distribution teams. • Irene Belmonte / MK Manager KEY CAPABILITIES ced strategy. At Janus Henderson, the • Ana Pretel / Client & Investment Services Coordinator Janus Henderson has a broad belief is that knowledge range of strategies potentia- In the equities space, Janus is powerful when it is lly suited to the current and Henderson offers a range of shared. future appetites of investors. solutions to suit investors Janus Henderson Investors exists to help clients achieve their These include offerings from with preferences for value or Sharing knowledge also long-term financial goals. our well-resourced and award growth, across the market means working with clients winning fixed income teams, capitalisation spectrum and through long-standing re- headed by Jim Cielinski. regions, including Europe, US, lationships built upon trust. J anus Henderson was for- Henderson is an independent With investment expertise Fixed income includes glo- Emerging Markets and long By properly understanding med in 2017 from the merger asset manager dual-listed on across most asset classes, bal flexible, non-benchmark term global thematic (Techno- their challenges and evolving between Janus Capital Group the New York Stock Exchange Janus Henderson offers constrained strategies as logy, Life Science, Property, needs, Janus Henderson and Henderson Global In- and the Australian Securities clients access to all major well as popular high yield and Sustainable…). seeks to shape products and vestors, and is committed to Exchange. markets around the globe, emerging market credit. services to deliver market-lea- adding value through active CLIENT FOCUSED ding solution. On the conservative space, Janus Henderson has a fun- management. Active is seen Highlighted Strategies as more than just an invest- Janus Henderson offers damental belief in openness ment approach – at Janus absolute return strategies and collaboration – in the Henderson it is the way ideas STRATEGY CATEGORY are translated into action, Absolute Return Income Fixed Income views are communicated and partnerships are built European/Global High Yield Fixed Income to create the best outcomes Global Equities for clients. China Equities Janus Henderson offers a United Kingdom Absolute Return Alternatives highly diversified range of pro- Balanced Multi Asset ducts, harnessing the intellec- tual capital of some of the in- European Equities dustry’s most innovative and Global Equity Market Neutral Alternatives formative thinkers. The group has US$378bn in assets un- Us Short term Fixed income der management, more than Global Life Sciences - Healthcare/Biotechnology Equities 2,000 employees and offices Emerging markets Corporates Fixed Income in 28 cities worldwide*. Head- quartered in London, Janus

* As at 30 September 2018 24 25 ASSET MANAGER’S GUIDE

At Legg Mason we’ve brought together nine independent, specialist investment MEET OUR INVESTMENT MANAGERS

managers, each with their own objective thinking. This means we offer you a Having honed their expertise over many decades and market cycles, our global asset managers choice of strategies and vehicles to help you to diversify your clients’ investments offer specialized capabilities across a scope of asset classes and strategies. Each skilled team and deliver outcomes that meet their goals. Thinking Independently, Together. operates with independent vision to help deliver powerful financial solutions for both individuals and institutions.

QUICK FACTS

• A diversified global asset management firm, founded in 1899 • Chairman and Chief Executive Officer: Joseph A. Sullivan • Common stock traded on the New York Stock Exchange (symbol: LM) Global value investing Real estate investment Quality-focused equity • $755 billion of assets under management as of September 30, 2018 Pursuing value since 1986 specialists Global investment manager • Approximately 3,300 employees with offices in 39 cities around the world including across equity and fixed inco- Clarion Partners is a leading with over 50 years of experien- Baltimore, New York, Miami, London, Tokyo, Singapore, Hong Kong, Dubai, Melbourne and me, globally and in the U.S. private equity and debt real ce and long-tenured portfolio São Paulo Historically institutionally focu- estate investment manager managers who seek to build • Investment affiliates spanning Fixed Income, Equity, Liquidity and Alternative asset classes sed, the firm has both a bou- established in 1982. Clarion in- income, high active share or • Global retail distribution capabilities with leading partners, including banks, brokerage firms, tique’s agility and a leader’s vests in the Americas across a low volatility portfolios. insurance companies and independent advisors stability and resources. broad range of property types and risk profiles, with the goal of consistently creating value for its clients.

CONTACT US Global Alternative Asset Systematic investment Client Relationship Manager solutions Sales Contacts Management Team EnTrustPermal, one of the Creates innovative solu- world’s largest hedge fund tions within a quantitative

Lars Jensen Ricardo Rodezno Samuel Bosch investors, has the scale and framework. The firm takes a Active equity specialists Head of Americas Sales Director, Cross Channel Wholesaler resources for innovation in consultative approach to glo- An active equity specialist International Southeast [email protected] a dynamic industry. With bal asset management, and [email protected] [email protected] T +1 305 529 4416 that builds global, stock-driven nearly 200 manager rela- applies complementary beha- T +1 305 808 1967 T +1 305 992 1666 portfolios based on fundamen- tionships across all alterna- vioral and fundamental market tal research, devoting all of tive investment strategies, insights to manage portfolios its resources to delivering Eric Neisner Jorge Letelier Aubrey S. Klaseen Núñez EnTrustPermal is a global lea- with a repeatable, risk-aware Head, Global Financial Regional Sales Director, Client Relationship optimum investment outco- der in structuring comprehen- process. Institutions Latin America Manager mes and superior client rela- [email protected] [email protected] [email protected] sive alternative approaches tionships. T +1 212 805 6037 T 562 2364 4265 T +1 305 529 4415 for institutional and high net worth clients.

Dolores Ayarra Javier Brstilo Milagros Silva Director of Business Director of Business Client Relationship Development Development Manager [email protected] [email protected] [email protected] Global listed infrastructure Small-cap equity Global value fixed income T +1 305 529 4405 T 562 2364 4266 T +1 305 529 4403 investing Known for its disciplined, va- One of the world’s leading glo- RARE is a dedicated infras- lue-oriented approach to ma- bal fixed income managers. Rebecca Crockett Roberto Teperman Luiz Assadurian tructure investment mana- naging small-caps. An asset Founded in 1971, the firm is Relationship Manager, Sales Director, Head of Sales, ger focused on global listed class pioneer, the firm’s foun- known for team management, Northeast Brazil Brazil der is one of the longest-te- proprietary research and a [email protected] [email protected] [email protected] infrastructure investments. T +1 212 805 6033 T 55 11 3478 5097 T 55 11 3478 5098 Established in 2006, RARE nured active managers in the long-term fundamental value has grown to become one of industry. approach. the largest listed infrastruc- Office locations dedicated to Americas International clients ture managers globally. Miami - 1395 Brickell Avenue, Suite 1550, Miami, Florida 33131 USA New York - 620 Eighth Ave, 47th Floor, New York, NY 10018 USA Santiago - Av Isidora Goyenechea 3000, Piso 23, Las Condes, Santiago, Chile Meet our investment managers at www.leggmason.com/choice São Paulo - Av. Pres. Juscelino Kubitschek, 1455 – 15º andar, Cep 04543-011, Sao Paulo, Brasil

All investments are subject to risk, including the possible loss of principal. Active share is a measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index. © 2018 Legg Mason Investor Services, LLC, member FINRA, SIPC. All investment managers referenced and Legg Mason Inves- tor Services are subsidiaries of Legg Mason, Inc. INVESTMENT PRODUCTS: NOT INSURED • NO BANK GUARANTEE • MAY LOSE VALUE 26 27 ASSET MANAGER’S GUIDE

MATTHEWS ASIA Luis Solorzano Ivan Mascaró Guzmán PIMCO 4 Embarcadero Center Business Development Manager - LatAm Director Business Development - LatAm & 777 Brickell Ave Suite 550 [email protected] US Offshore Miami, FL 33131 San Francisco CA 94111 [email protected] Tel: +(1) 305-721-2767 Tel: +(1) 415 954 4510 MORGAN STANLEY INVESTMENT MANAGEMENT NUVEEN INVESTMENTS Marcello Pasquatti Kate Hitchings Ahalt 200 South Biscayne Blvd 333 W Wacker Drive Head of Latam Global Weatlh Head of Global Client Relationship 51st Floor Chicago, IL 60606 Management Management Miami, FL 33131 Tel: +(1) 312 375 3656 Marcello.Pasquatti@pimco.com [email protected] Tel: +(1) 305 533 5320 Oscar Isoba PINEBRIDGE INVESTMENTS Jonathan Shuman Carlos Andrade Managing Director, Region Head - US 399 Park Avenue Head of Business Development Head of Latin America and US Offshore & Latin America 4th Floor [email protected] Offshore Distribution [email protected] New York, NY 10022 [email protected] Tel: +(1) 646 857 8000 MERIAN GLOBAL INVESTORS OPPENHEIMERFUNDS 600 Brickell Avenue MUZINICH 225 Liberty Street Ryan Guthrie Suite 1700 Madrid 11th Floor Vice President, Business Miami, FL 33131 Tel: +(34) 910 848 895 New York, NY 10281-1008 Development Tel: +(1) 866 925 3863 Tel: +(1) 212 323 0394 [email protected] Rafael Ximénez de Embún, CFA Chris Stapleton Managing Director Iberia and Latam Paul Eisenhardt ROBECO Managing Director - Head of Business [email protected] Head of International sales 1101 Brickell Ave. Development New York and California [email protected] Suite 1202 [email protected] NATIXIS INVESTMENT MANAGERS Miami, FL 33131 888 Boylston Street Ivan del Rio Tel: +(1) 786 483 2500 Andres Munhó Boston, MA 02199-8197 Senior Advisor Consultant, Managing Director - Head of Sales Florida, Tel: +(1) 888-449-4947 International Sales Jimmy Ly Colombia and Mexico [email protected] Executive Director [email protected] Rodrigo Nuñez Aguilar Head of Sales, Robeco Latam Senior Director, US Offshore and Latin PICTET ASSET MANAGEMENT & US Offshore MFS INTERNATIONAL America Key Accounts Moor House [email protected] 801 Brickell Ave [email protected] 120 London Wall 9th floor, suites 915&918 London, EC2Y 5ET RWC PARTNERS Tel: +(1) 305 987 0054 NEUBERGER BERMAN Tel: +(1) 203 247 2474 2640 South Bayshore Drive Miami, FL 33131 1290 Avenue of the Americas Suite 201 New York, NY 10104 Seiji Nishimura Miami, FL 33133 Jose Corena Tel: +(1) 305 979 5146 Head of Global Financial Institutions - US Tel: +(1) 305 602 9501 Managing Director Americas Intermediaries Group [email protected] Jose Garcia [email protected] James Tollemache NRC-NRA Advisor Consultant - US Offshore Head of Business Distribution M&G INVESTMENTS [email protected] Jorge A. Corro [email protected] 1395 Brickell Avenue Pictet AM representative for US Offshore Suite 800 NN INVESTMENT PARTNERS [email protected] Miami, FL 33131 Schenkkade 65, 2595 AS The Hague +44 20 3755 8000 The Netherlands Tel: +(31) 70 379 17 40

28 29 ASSET MANAGER’S GUIDE

environment for the long-term investment horizon that we Strategies for COMPANY INFORMATION apply to stock selection and portfolio construction. investing in Asia Head office • Experience ASIA FIXED INCOME ASIAN GROWTH AND INCOME Matthews Asia Matthews Asia’s principals Head of Head of Global have extensive investment • Asia Strategic • Asia Dividend Four Embarcadero Center, Suite 550 Global Client Business management tenure within Income • Asia ex Japan San Francisco, CA 94111 Relationship Development the firm and deep investment • Asia Credit Dividend Management Jonathan experience within Asian Opportunities • China Dividend Kate Hitchings Schuman markets. Telephone +1-415-954-4510 Ahalt ASIA GROWTH ASIA SMALL COMPANY Email [email protected] • Balance of Teamwork and Accountability [email protected] Our San Francisco-based in- • Asia Focus • Asia Small Web global.matthewsasia.com [email protected] vestment team sits together • Pacific Tiger Companies on one open floor and shares • China • China Small ideas formally and informally. • India Companies This leverages the intellectual • Japan Matthews Asia is a specialist Asian investment manager. Our mission is to capital of the team for the be- nefit of our clients’ portfolios. The above Matthews Asia Funds are currently deliver solutions for global investors to participate in the Asian opportunity. available as Luxembourg-domiciled UCITS.

ABOUT MATTHEWS ASIA thinking facilitate our delivery lios and conducting in-depth, of a consistent and distinc- on-the ground fundamental For Institutional/Professional Investors Only The Fund is a sub-fund of Matthews Asia Funds SICAV, an umbrella fund, with segregated liability between sub-funds, Matthews Asia is an indepen- tive value proposition to our research to identify the most established as an open-ended investment company with variable capital and incorporated with limited liability under the dent, privately owned invest- clients and partners. compelling opportunities laws of Luxembourg. ment manager headquar- while minimizing downside Investment involves risk. Past performance is no guarantee of future results. The value of an investment in the Fund can tered in San Francisco with OUR INVESTMENT risk. This is how we built our go down as well as up. This document is not a Prospectus/Offering Document and does not constitute an offer to the public. No public offering or advertising of investment services or securities is intended to have taken effect through the subsidiary offices in London, STRATEGIES 25 plus-year track record in provision of these materials. This is not intended for distribution or use in any jurisdiction in which such distribution, publi- Hong Kong Singapore and Asia —and how we plan to ca- cation, issue or use is not lawful. Investors should not invest in a Fund solely based on the information in this document. Shanghai. Founded in 1991, Our investment strategies rry our work forward into the An investment in Matthews Asia Funds may be subject to risks, such as social and political instability, market illiquidity, ex- Matthews Asia specializes in range from country-specific next 25 years and beyond. change-rate fluctuations, a high level of volatility and limited regulation. The current prospectus, Key Investor Information Document or other offering documents (“Offering Documents”) contain this and other information and can be obtained by investing in Asia’s equity and to pan-regional solutions that visiting global.matthewsasia.com. Please read the Offering Documents carefully before investing as they explain the risks fixed income markets for ins- provide diverse exposure WHY MATTHEWS ASIA? associated with investing in international and emerging markets. It is the responsibility of any persons wishing to subs- titutions, intermediaries and across styles, sectors, the- cribe for shares to inform themselves of and to observe all applicable laws and regulations of any relevant jurisdictions. Prospective investors should inform themselves as to the legal requirements and tax consequences within the countries retail investors worldwide. For mes and market capitaliza- Our people share a set of of their citizenship, residence, domicile and place of business with respect to the acquisition, holding or disposal of shares, over 25 years, our bottom-up, tion, to capitalize on some of important values. Some of and any foreign exchange restrictions that may be relevant thereto. active investment approach the newest and most promi- the factors that we believe An investment in the Matthews Asia Funds is not available in all jurisdictions. The Funds’ shares may not be sold to citizens has focused on identifying sing long-term opportunities differentiate Matthews Asia or residents of the United States or in any other state, country or jurisdiction where it would be unlawful to offer, solicit the most attractive long- we see in the market. from our peers include: an offer for, or sell the shares. No securities commission or regulatory authority has in any way passed upon the merits of an investment in the Fund or the accuracy or adequacy of this information or the material contained herein or otherwise. term growth opportunities in Matthews Asia is the brand for Matthews International Capital Management, LLC and its direct and indirect subsidiaries. Asia’s diverse markets. Our OUR INVESTMENT • Focus and Specialization portfolios typically feature APPROACH Matthews Asia is focused Matthews International Capital Management is the Investment Manager to the Matthews Asia Funds, and is a U.S.-based investment adviser registered with the U.S. Securities and Exchange Commission who has not represented and will not low turnover rates and high solely on investing in the represent that it is otherwise registered with any other regulator or regulatory body. active share, with holdings Rather than passively relying greater Asia Pacific region. The information contained herein has been derived from sources believed to be reliable and accurate at the time of com- that differ significantly from on either equity or fixed inco- pilation, but no representation or warranty (express or implied) is made as to the accuracy or completeness of any of this their benchmarks. me indices built on historical • Independence information. Matthews Asia and its affiliates do not accept any liability for losses either direct or consequential caused performance, we seek to ge- We are an independent, by the use of this information. The views and information discussed herein are as of the date of publication, are subject to change and may not reflect current views. The views expressed represent an assessment of market conditions at a Our long-term perspective nerate attractive returns by privately held company, specific point in time, are opinions only and should not be relied upon as investment advice regarding a particular invest- and culture of independent actively managing our portfo- which creates a supportive ment or markets in general. Such information does not constitute a recommendation to buy or sell specific securities or investment vehicles.

©2018 Matthews International Capital Management, LLC G.BR051_2018

30 31 ASSET MANAGER’S GUIDE

yet without encumbering correlation with other DISTRIBUTION them with a blunt “house absolute return strategies. Our distribution coverage in view” imposed by a chief Our products and services the Americas is through The CORPORATE INFORMATION CONTACT INFORMATION investment officer. are broadly summarised here. AMCS Group, a separate, Please contact us for independently owned Merian Global Investors OUR APPROACH more detailed information on company, whose directors and Merian Global Investors does any of our capabilities. senior staff have a history of Telephone 866-925-3869 Millenium Bridge House not seek to be “all things to all marketing funds managed people,” not least Our clients include many of by Merian Global Investors 2 Lambeth Hill E-mail [email protected] because we know that by the world’s largest and most in the Americas. Prior to the London EC4P 4WR,UK doing so we would dilute – sophisticated financial sale of the business to senior and ultimately lose – the institutions, including global management and funds Web merian.com qualities that make the firm banks, insurers, multi-asset managed by TA Associates, distinct from other asset fund managers, many of the directors and managers. sovereign wealth funds, staff of The AMCS Group pension funds, and retail worked for another subsidiary Investment Capabilities As an investment-led financial advisers. of Old Mutual plc., which at business, we strive to deliver the time was also our firm’s • AUM*: $44.6bn investment strategies Merian Global Investors has ultimate parent company. that are truly differentiated won over 90 industry awards The AMCS Group is now the • Equities: $24.6bn from those available since 2014 and has exclusive distributor of Merian We offer a wide range of equity capabilities, including global, UK, European, North American, elsewhere. As such, we are established a real presence Global Investors funds in the Asian and emerging markets. Our global equities team, led by Ian Heslop, offers expertise in resolutely committed to active in the markets in which it Americas. global, North American and Asian equities. This includes the Global Equity Absolute Return investment management; we operates. The quality of our Fund and North American Equity Fund . Award-winning fund manager, Richard Buxton, heads target a high “active fund managers, their teams Merian Global Investors a UK and European equity team dedicated to fundamental research, across the market cap share” among our long-only and our performance is operates its own distribution spectrum. Emerging market equities are available from our specialist team, led by Nick Payne. strategies, and our absolute recognised by independent offices in London, Edinburgh, • Alternatives: $17.5bn return strategies are rating agencies and endorsed Zurich, Milan, Hong King and expected to deliver on their by the investment awards we Singapore. Merian Global Investors has been managing alternative strategies since December 2001. The commitments, while offering have won. range of funds spans equity market neutral, directional equity, absolute return multi-sector fixed return profiles with a low income, style premia absolute return, systematic positive skew, and gold & silver strategies.

• Fixed Income: $2.2bn Our highly experienced fixed income team covers multi-sector bonds, emerging market debt Christopher Andres Santiago and credit strategies. The team offers long-only and long/short fixed income capabilities, as the Stapleton Munhó Sacias Managing Managing CFA Merian Financials Contingent Capital Fund and the Strategic Absolute Return Bond Fund. Director Director Senior Vice • Sub-advised: $0.3bn Head of Head of Sales President Business Florida, Regional Director Specialist investment strategies from leading asset management firms benefiting from our Development Colombia Argentina, expertise in governance and distribution. New York and and Mexico Uruguay, Brazil, California Sales Chile & Peru

*Source: Merian Global Investors as at 30/09/2018 Fabiola Francisco Virginia Peñaloza Rubio Gabilondo Regional Vice Regional Vice Client Service M erian Global Investors is “single-strategy” investment value of active investment President - President - Manager, a leading, independent, global capabilities of Old Mutual management when it delivers Florida and Southwest Americas asset management firm. While Global Investors. what they reasonably expect. Colombia US, Florida, our name may suggest we are Panama and Puerto Rico a relative newcomer, our roots ABOUT US Our strategy is to seek to in fact go back many years. As an independent firm, we attract and retain talented The company as it is now are committed to continuing investment professionals, who known was formed in June to build a successful, are experts in their particular This communication is issued by Merian Global Investors (UK) Limited (“Merian Global Investors”), Millennium Bridge House, 2 Lambeth Hill, London, United Kingdom, EC4VP 4WR. Merian Global Investors is registered in England and Wales (number: 02949554) and is authorised and regulated by the Financial 2018 when its management specialized asset fields, and to provide them Conduct Authority (FRN: 171847). This communication is for information purposes only. Nothing in this communication constitutes financial, professional or investment advice or a personal team, together with funds management business. with the operational, risk recommendation. operated by the global growth Central to the future of our management and distribution This communication should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments in any jurisdiction. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, private equity firm, TA business is a belief that environment and support nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in the document. Any opinions expressed in this document are subject to change without notice and may differ or be contrary to opinions expressed by other business areas Associates, acquired the our clients appreciate the they need in order to thrive, or companies within the same group as Merian Global Investors as a result of using different assumptions and criteria. Investment funds are distributed in the Americas through subsidiaries of AMCS Holdings, LLC (the AMCS Group), an independently owned company. The AMCS Group, its subsidiaries and employees are not affiliated with Merian Global Investors (UK) Limited (MGI) or any affiliate of MGI. This email, its content and any files transmitted with it are intended solely for the addressee(s) and may be legally privileged, confidential and /or otherwise protected from disclosure. If you have received this email in error please delete it and contact the sender via return e-mail. Alternatively, please call: Merian Global Investors (UK) Limited on +44 (0)207 332 7500 (UK), Merian Global Investors (Asia Pacific) Limited on +852 2810 8626 (Hong Kong) or Merian Global Investors (Switzerland) LLC on +41 44 201 1070.

32 33 ASSET MANAGER’S GUIDE

MFS Meridian® Funds F or more than 90 years, Expertise Through Collaboration MFS has actively managed Capabilities To Help Meet Client Needs investments – around the FACTS & FIGURES* globe, across asset classes MULTI Global and through a myriad • Founded in 1924 and established America’s first mutual fund ASSET of economic and market US Corporate • USD 483 billion in assets under management environments. While the • Well-diversified business with a client base split between retail (55.8%) opportunities and challenges FIXED Global Corporate and institutional (44.2%) have changed, we have kept INCOME Emerging Markets • An extensive range of equity and fixed-income investment products across global our long-term perspective US Government / Sovereign and regional strategies and cultivated our robust • Nine worldwide research offices and eight sector teams investment platform. Global • 273 equity, credit and quantitative investment professionals US MFS’ approach to active Emerging Markets management starts with client EQUITY alignment and is driven by: European MFS Investment, sales & service offices Asia Pacific Rotterdam Sales & service offices CONTINUITY: TORONTO LONDON Frankfurt TIME IS AN ASSET Montreal Paris Vancouver Zurich We think, act and invest with Phoenix BOSTON Milan TOKYO Los Angeles New York City Madrid a long-term focus because investment platform, and corner of our investment Miami HONG KONG we believe it’s the best way uncompromised information process, with rigorous MEXICO CITY to meet client objectives. By flow across geographies, reviews at the portfolio, SINGAPORE investing through a full market asset classes and industries, security and firm levels. cycle, we help clients manage our analysis advantage helps Every member of our SÃO PAULO the downside while pursuing us actively manage risk and investment team takes Santiago SYDNEY Buenos Aires opportunities to outperform make effective decisions responsibility for assessing as we find them. within client portfolios. risk on behalf of clients, and in every decision we COLLECTIVE EXPERTISE: RISK MANAGEMENT: make, risk is part of the CONTACT US INSIGHT TO ADVANTAGE SEEING ALL ANGLES equation. Created through MFS Active Risk management is always L. Jose Corena IntelligenceSM, our global on and embedded in every Managing Director - Americas / [email protected] / +617-755-7949

Argentina, Uruguay, Brazil, Ecuador, Paraguay and Venezuela • Stephan Von Hartenstein - Director: [email protected] / +54 9 11 5949-1180 The MFS Meridian Funds family, a Luxembourg SICAV, is the primary product group since 1989, offered • Ignacio Durañona - Regional Manager: [email protected] / +54911 4165-5183 by MIL – our retail business. The MFS Meridian Funds family is designed to serve MFS’ non-US fund Sales representative markets and to provide investors a broad spectrum of asset classes for investment in almost every • Diana Rueda: [email protected] / +305-789-6678 region of the world’s established, developed and emerging financial markets. Chile and Peru • Enrique Pérez Iturraspe - Director: [email protected] /+569 7614-6486 • 1989 – MFS international Ltd. Is established to market and distribute MFS products internationally. Sales representative • 1991 – First research analysts stationed outside of the United States. • Pablo Rodriguez: [email protected] /+617-954-6044 • 1995 – MFS extends its global footprint, opening its first overseas research office, in London Southeast US, Caribbean, Costa Rica, Central America, Panama*, Colombia**, Mexico, (marks the beginning of an expansion that now includes investment offices in nine financial US West Coast, Western Canada and Hawaii centers around the world). • Philip Dieffenbacher - Director [email protected] / + 646-306-9206 TODAY- MFS continues to expand with most recently our new distribution office in Miami: • Eric Figueroa - Associate Director [email protected] / + 786-858-8789 • Drew Chisholm - Regional manager [email protected] / +617-954-5682 • 801 Brickell Ave, 9th Floor / Suite #s 915 & 917 / Miami, FL 33131 Sales representative • *Jaime Mendez: [email protected] / + 617-954-4195 • ** Pablo Rodriguez: [email protected] /+617-954-6044 See the fund’s offering documents for more details, including information on fund risks and expenses. For additional infor- Southwest US mation, call Latin America: 416.506.8418 in Toronto or 352.46.40.10.600 in Luxembourg. • Jennifer Whitney - Director: [email protected] / +512-415-6602 MFS Meridian Funds is an investment company with a variable capital established under Luxembourg law. MFS Investment Manage- ment Company (Lux) S.ar.l. is the management company of the Funds, having its registered office at 35, Boulevard du Prince Henri, Northeast US, Bermuda and Eastern Canada L-1724, Luxembourg, Grand Duchy of Luxembourg (Company No. B.76.467). The Management Company and the Funds have been • Danielle Spry - Director: [email protected] / +978-821-5355 duly authorized by the CSSF (Commission de Surveillance du Secteur Financier) in Luxembourg. Sales representative MFS Meridian Funds may be registered for sale in other jurisdictions or otherwise offered where registration is not required. MFS Meridian Funds are not available for sale in the United States or Canada or to US persons. • David Szabo: [email protected] /+617-954-4429 Unless otherwise indicated, logos, product and service names are trademarks of MFS and its affiliates and may be registered in certain countries. MFS Investment Management Company (Lux) S.à.r.l. This material is for use only in North America, South America and Central America. * All figures as at 30th September 2018 FOR INVESTMENT PROFESSIONAL USE ONLY. Not intended for retail investors. 34 35 ASSET MANAGER’S GUIDE

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Dynamism Muzinich UCITS Funds* We have the ability to be COMPANY INFORMATION nimble, innovative, and quick Muzinich Enhancedyield Short Term to react in a changing market Muzinich Emerging Markets Short Duration Head office environment. We manage dynamic portfolios based on Muzinich Short Duration High Yield Muzinich & Co., Inc. both fundamental and relative value considerations. 450 Park Avenue Muzinich Europeyield Fund New York, NY 10022, USA Managing Director Measured Risk Taking Muzinich Americayield Fund Iberia y Latam We have a profound Telephone + 34 91 084 8895 Muzinich Global High Yield Fund Rafael Ximénez awareness of asymmetric de Embún risk and understand the Email [email protected] Muzinich Global Tactical Credit Fund importance of stress Web www.muzinich.com testing and diversification Muzinich Long Short Credit Yield Fund in preserving and growing Muzinich European Credit Alpha Fund capital.

Muzinich Bond Yield ESG Solution Driven REGIONAL CONTACTS We seek to provide yield and • Argentina - Florencia Bunge: +549 11 358 04052 / [email protected] produce solutions in a low Muzinich Emerging Markets Debt Fund • Uruguay - Diego Iglesias: +598 99 503 873 / [email protected] yield environment. We work Muzinich Asia Credit Opportunities Fund closely with our clients to • Chile - Eduardo Ruiz: +562 28693290 / [email protected] create bespoke portfolios that • Peru - Jorge Velarde : +51 421 8384 / [email protected] best meet their objectives. we have long applied process can be advantageous RESPONSIBLE INVESTMENT environmental, social and from an investment We believe the fair and governance (ESG) standards. perspective, thus benefiting We believe incorporating client portfolios. OUR HISTORY INVESTMENT APPROACH Investment Conviction transparent governance is sustainability discussions into Muzinich & Co is a privately- We view credit investing as essential for a company’s the fixed income research owned investment firm Research Analysis lending money to a company. long-term success and specializing in public and Fundamental bottom-up credit Our investment decisions are private corporate credit. Our research is at the centre of evidence of our conviction in a philosophy is focused on our investment process. company’s creditworthiness. *For a full list of available UCITS Funds and materials, please visit www.muzinich.com. delivering consistent risk- adjusted returns in a variety The information contained herein should not be construed as investment advice. This document shall not cons- of market environments. The Global Aum Muzinich & Co: $ 32,3 Billion titute an offer to sell or a solicitation of an offer to purchase any securities in any jurisdiction, including the U.S., company was founded by Distribution Per Asset Class and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation George Muzinich in New York 16 or sale would be unlawful prior to registration or qualification under the securities laws of any state or country. Interests in the funds referenced herein are UCITS funds based in the European Union. Units in such funds are in 1988, and offers solutions 13,4 14 not registered in the United States under any applicable legislation. Units are not available for offer or sale in any aimed to institutional state in the United States, or to persons (including companies, partnerships, trusts or other entities) who are “US investors, delivering what we 12 10,4 Persons” (as defined in Rule 902 of Regulation S under the Securities Act), nor may Units be owned or otherwise believe to be superior risk- 10 held by such persons. Any public offering of securities to be made in the United States will be made by means adjusted returns in a variety of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed of market conditions with no 8 information about the company and management, as well as financial statements. Nothing contained herein is

style drift. US$Bn intended to constitute investment, legal, tax, accounting or other advice. Investment process and objectives are 6 subject to change. Emerging Markets may be more risky than more developed markets for a variety of reasons, 4,0 including but not limited to, increased political, social and economic instability; heightened pricing volatility and We serve our US non-resident 4 reduced market liquidity. Rates of exchange may cause the value of investments to rise or fall. The assets of the clients through our team 1,8 2 1,4 1,3 portfolios in the strategy may be in a variety of currencies and currency fluctuations may therefor affect the value based in Spain, and led by of an investor’s holding. Some of the investments made will be in bonds which are below investment grade and Rafael Ximénez de Embún, 0 which may carry a higher risk of default than higher-rated bonds. Investors should read the fund specific risks in Managing Director for Iberia High Yield Investment Absolute Emerging Syndicated Priva te the Prospectus. Muzinich & Co. Ltd, is authorized and regulated by the Financial Conduct Authority. Registered in and LatAm. Grade Return Markets Loans Debt England and Wales No. 3852444. Registered address: 8 Hanover Street, London W1S 1YQ.

Source: Muzinich & Co. Ltd. As at 31 October 2018. Private debt AUM is total gross committed capital from investors.

Muzinich & Co Private and confidential 0 38 2018-11-19-2229 39 ASSET MANAGER’S GUIDE

PUT ACTIVE THINKINGSM asset allocation trends, and Through the experience of TO WORK FOR YOU compares the performance our affiliated managers we Natixis brings a deeper level of US Offshore and Latin have more than 30 years of of portfolio insight to help American portfolios with their experience in responsible COMPANY INFORMATION you make well-informed global peers. investing. investment decisions. Since • The majority of our affiliated Corporate Office 2010, the Natixis Portfolio UNDERSTANDING INVESTOR managers integrate ESG Research & Consulting Group BEHAVIOR factors into their investment 888 Boylston Street, Boston, MA 02199 USA has analyzed more than 7,000 The Natixis Center for process. Latin America/Offshore sales office locations: Bogotá, model portfolios submitted Investor Insight analyzes and • 75% of our assets under by financial professionals – a reports on issues and trends management are managed by Mexico City, Montevideo; Miami, Houston, New York Executive Managing Director Iberia, Latin America service available to all our important to individuals, affiliates that are signatories Telephone +1 888-449-4947 and US Offshore clients. institutions, and financial to the United Nations professionals around the Principles for Responsible Email [email protected] Sophie del Campo BUILDING BETTER globe. The Center and its Investment (UN PRI)3. Web im.natixis.com PORTFOLIOS team of independent and Twice each year the group affiliated researchers track GLOBAL ACCESS, LOCAL publishes the US Offshore major developments across EXPERTISE & Latin American Advisors the markets, economy, and Natixis’ unique multi-affiliate Portfolio Barometer. The investing spectrum to help model is available directly report highlights observations financial professionals gain a to investment professionals ABOUT NATIXIS INVESTMENT MANAGERS drawn specifically from better understanding of their across Latin America and moderate model portfolios clients’ concerns. to offshore advisors in the th asset management firm worldwide 1 • 16 largest submitted by US Offshore United States. Our 13 highly 2 • $999.5 billion in assets under management and Latin American financial COMMITMENT TO experienced professionals • More than 20 independent affiliated asset managers offering more advisors and wealth SUSTAINABLE INVESTING are based locally in Bogotá, than 200 investment strategies management firms. Analysis As highly active managers, Mexico City, and Montevideo, • 3,600 employees in more than 25 countries focuses on the risk, return, we also have a commitment as well as in Miami, Houston, and correlation characteristics to ESG (environmental, social, New York, and Boston in of the portfolios as well as governance) principles. the US. Powered by Active ThinkingSM 3. As of June 2018 At Natixis Investment Managers, we practice Active ThinkingSM – our insight-driven YOUR NATIXIS LATIN AMERICA SUPPORT TEAM approach to active management that balances diverse opinions, deep data, and detailed Our responsive, dedicated bilingual team is focused on partnering with you to find the analysis. Through the capabilities of our affiliated managers, Natixis offers a range of solutions that align with your goals. solutions to help you build better portfolios for your clients – across equity, fixed income, sustainable investing, and alternatives.

FEATURED STRATEGIES FROM OUR HIGH-CONVICTION ACTIVE MANAGERS:

ASG Managed Futures Loomis Sayles US Core Plus Rodrigo Núñez Aguilar Gordon Burrow Maider Lasarte Pia Sojo Senior Director, US Offshore and Managing Regional Director, Managing Regional DNCA Invest Value Europe Loomis Sayles US Growth Equity Latin America Key Accounts Director, US Offshore US Offshore Director, US Offshore DNCA Invest Europe Growth Loomis Sayles Short Term Emerging Markets Bond H2O Multi-Aggregate Mirova Global Sustainable Equity Harris Associates Global Equity Ostrum Europe Smaller Companies Loomis Sayles Global Growth Equity Ostrum Short Term Global High Income Loomis Sayles Multisector Income Seeyond Europe Minimum Variance

Mauricio Giordano Sandrine Klock José Luis León Martín Herbon Before investing, consider the fund’s investment objectives, risks, charges, and expenses. You may obtain a prospectus Country Manager, Mexico Head of Wholesale, Country Manager, Colombia, Country Manager, or a summary prospectus on our website containing this and other information. Read it carefully. Mexico Peru and Panama Uruguay and Chile

Before investing, consider the fund’s investment objectives, risks, charges, and expenses. You may obtain a prospectus or a summary prospectus on our website containing this and other information. Read it carefully. 1. Cerulli Quantitative Update: Global Markets 2018 ranked Natixis Investment Managers as the 16th largest asset manager in the In Latin America: Provided to Professional Clients for information purposes only by Natixis Investment Managers S.A. Natixis Investment Managers S.A. is a Luxembourg management company that is authorized by the Commission de Surveillance du Secteur Financier and is incorporated under world based on assets under management as of December 31, 2017. Luxembourg laws and registered under n. B 115843. Registered office of Natixis Investment Managers S.A.: 2, rue Jean Monnet, L-2180 Luxembourg, 2. Net asset value as of September 30, 2018. Assets under management (AUM), as reported, may include notional assets, assets Grand Duchy of Luxembourg. The above referenced entities are business development units of Natixis Investment Managers, the holding company serviced, gross assets and other types of non-regulatory AUM. of a diverse line-up of specialized investment management and distribution entities worldwide. The investment management subsidiaries of Natixis Investment Managers conduct any regulated activities only in and from the jurisdictions in which they are licensed or authorized. Their services and the products they manage are not available to all investors in all jurisdictions. In the United States: Provided by Natixis Distribution, L.P., 888 Boylston St., Boston, MA 02199. For U.S. financial advisors who do business with investors who are not U.S. Persons (as that term is used in Regulation S under the Securities Act of 1933) or persons otherwise present in the U.S. It may not be redistributed to U.S. Persons or persons present in the U.S. Natixis Investment Managers includes all of the investment management 40 and distribution entities affiliated with Natixis Distribution, L.P. and Natixis Investment Managers S.A. 41 ASSET MANAGER’S GUIDE

Assets Under Management: $246.2 billion3 COMPANY INFORMATION Assets in Billions, as of September 30, 2018

Head office Multi Asset $4.7 Alternatives $3.2 Cash Strategies $3.3 Smart Beta $3.2 OppenheimerFunds MLPs $10.3 Head of International U.S. Equity $43.3 Global Fixed Income $11.2 225 Liberty Street International Sales New York, NY 10281 Sales Senior Loans $16.0 $246.2 Paul Eisenhardt Ivan del Rio U.S. Fixed Income $5.9 Billion Emerging Markets Equity $45.7 CIMA CFA Investment Grade Muni Fixed Income $17.9 Telephone +(1) 212 323 4015 High Yield Muni Fixed Income $7.4 [email protected] Web oppenheimerfunds.com/international [email protected] Global Equity $32.4 International Equity $41.9

is objective and free of con- • As of 9/30/18, 56% of our • We have a deep bench of ta- The Right Way to Invest flicts of interest. portfolios outperformed lent steeped in our approach their Morningstar peer group to investing. Nine of our 10 INVEST WITH EXPERIENCE averages. global and emerging market A t OppenheimerFunds, we • Today, we oversee more TAKE INTELLIGENT RISKS Our investment teams are equity portfolio managers are dedicated to serving the than $120 billion in global We recognize that investment some of the industry’s most • Lead managers across all previously served as analysts needs of clients that range and emerging market equity rewards are rarely achieved tenured and successful, of our investment strategies at the firm. 1 from institutions to financial strategies. without using risk guiding portfolios through average more than 22 years advisors working with indivi- in an intelligent way. multiple market cycles. of industry experience. dual investors. While markets LOOK TO THE LONG TERM Our deep understanding of may change, we believe The OppenheimerFunds offers risk dynamics helps us as Right Way to Invest for our actively managed portfolios we seek to manage portfolios clients remains constant. It and smart beta solutions in line with clients’ expecta- is rooted in four simple, but that seek to deliver investors tions. UCITS Strategies important principles: superior returns over the • Developing Markets Equity UCITS Fund • Global Focus Equity UCITS Fund long term. • Proprietary scenario analy- MAKE GLOBAL sis and risk modeling provide • Emerging Markets Innovators UCITS Fund • Emerging Markets Local Debt CONNECTIONS • Our equity portfolio turnover our portfolio managers with • Global Equity UCITS Fund UCITS Fund OppenheimerFunds unders- ratio for the last year was insights on how changes in tands the interconnected- 48.75% vs. 89.36% for all equi- market conditions and securi- ness of worldwide markets ty mutual funds in the world.2 ty fundamentals may impact and has a proven history of portfolios.

finding rewarding opportuni- • We have a history of seeing 1. As of 9/30/18. ties from across the globe for future opportunities before • Our risk analysts work 2. Source: Morningstar Direct. As of 9/30/18. investors. they became more widely closely with each investment 3. As of September 30, 2018. Assets under Management represents the total assets managed and advised by Oppen- recognized: like high-yield team to ensure that risk is heimerFunds, Inc., and certain of its investment advisory subsidiaries, including OFI Global Asset Management, Inc., OFI • We stand among the indus- municipal bonds, energy considered at every stage of Global Institutional, OFI SteelPath, Inc., OFI Global Trust Company, SNW Asset Management, LLC, and OFI Advisors, LLC try’s pioneers for establishing infrastructure and senior the investment process. (collectively, the “OFI Enterprise”). The investment strategies listed may be offered through investment vehicles that are managed or advised by one or more entities in the OFI Enterprise including mutual funds, variable insurance trusts, co- global equity, global fixed corporate loans. llective investment trusts, limited partnerships, limited liability companies and separate accounts. OppenheimerFunds, income and global alternative • The risk team remains inde- Inc. personnel that provide advisory, trading and other services may be dually employed by other subsidiaries in the OFI strategies. • We launched our Global pendent of the investment Enterprise to provide similar services. Each investment vehicle has its own investor qualifications, investment minimums and fee schedule. Certain investment vehicles may not be appropriate for all investors. Strategic Income strategy in team. Our Chief Risk Officer © 2018 OppenheimerFunds Distributor, Inc. All rights reserved. • We launched our first global 1989, an early leader in global reports to the firm’s CEO to fund in 1969. fixed income investing. ensure that our risk analysis

42 43 ASSET MANAGER’S GUIDE 3 For Professional Investors and Advisers Only

Company Information RWC - Our Purpose COMPANY INFORMATION RWC Miami James Tollemache RWC Partners is a stable, forward- thinking organisation that embraces Emerging 2640 South Bayshore Drive Head of Sales Equity Miami Office and Frontier Suite 201 responsible autonomy, freedom, integrity Income [email protected] and alignment of interests. We believe Markets MiamiRWC Miami that in order to deliver the results our Florida.264033133 South Bayshore Drive Head of Business clients expect we must continuously Convertible Global Suite 201 - Miami - Florida. 33133 Business Development Bonds Equity invest in our people, our approach to DistributionSofia Granai T +44 20 7227 6000 Sofia Granai investing and our infrastructure. E [email protected] +1 305 602 9501 JamesBusiness Development Tollemache W www.rwcpartners.com Email [email protected] Diverse and evolving Europe investment capabilities Long/Short UK Equity [email protected]@rwcpartners.com Equity Web www.rwcpartners.com [email protected] Our organisation benefits from being both flexible and progressive. US At RWC Partners we invest on behalf of our clients with European We are proactive in our approach Long/Short Engagement the aim of helping them meet their long-term financial to technological development and Equity Assets Under Management* Employees Investment professionals Japan objectives. innovation, enabling our fund managers Engagement 15 US$ bn 147 62 to consistently provide solutions that Since our formation in 2000 we have remained At the heart of RWC Partners are teams of meet the challenges of an ever evolving committed to delivering investment experienced investment professionals with market place. management services with the highest levels expertise in specific fields. Our teams are led of skill, Atintegrity RWC and Partnerstransparency. we invest onby behalfpeople who of are our distinguished clients with in their the aim of chosen area and demonstrate a total We feel a strong sensehelping of responsibility them meet to theircommitment long-term to financialthe responsibilities objectives. they have provide the highest standards of investment to their clients. CONTACT US management; good value for money; clear Please contact us if you have any questions or would like to discuss any of our strategies. information that helps our clients understand They are supported by highly professional S ince our formation in 2000 information that helps our chosen area and demonstrate E [email protected] W www.rwcpartners.com whatwe have we are remained doing; and committed a stable organisation clients understand individuals what and teams whoa recognisetotal commitment that to the thatto delivering is both long investment-term and trustworthy.we are doing;investment and a stablereturns drive RWC’sresponsibilities long-term they have to sustainability. management services with organisation that is both long- their clients. the highest levels of skill, term and trustworthy. RWC London RWC Miami RWC Singapore integrity and transparency. They are supported by highly Head Office 2640 South Bayshore 80 Raffles Place We specialise in providing 60 Petty France Drive #22-23 At theHighlighted heart of RWC Strategies Partners professional individuals and London SW1H 9EU Suite 201 UOB Plaza 2 strategiesWe feel a strong that are sense not only of are teams of experienced teams who recognise that T +44 20 7227 6000 Miami Singapore 048624 interestingresponsibility but to appropriate provide investmentGlobal professionals Convertibles with investment returns drive Florida. 33133 T +65 6812 9540 forthe evolvinghighest standardstimes. We of expertise in specific fields. RWC’s long-term sustainability. T +1 305 602 9501 Enhanced Dividend offerinvestment a distinct management; range of Our teams are led by people portfoliosgood value which for money; allow ourclear who areGlobal distinguished Emerging in Marketstheir Equity This document is directed only at professional, institutional, wholesale or qualified investors. The services provided by RWC are avai- clients to invest in lable only to such persons. It is not intended for distribution to and should not be relied on by any person who would qualify as a retail or individual investor in any jurisdiction or for distribution to, or use by, any person or entity in any jurisdiction where such distribution developed and emerging European Equity or use would be contrary to local law or regulation. Highlighted Strategies market equities, This document has been prepared for general information purposes only and has not been delivered for registration in any jurisdic- convertible bonds and US Long/Short Equity tion nor has its content been reviewed or approved by any regulatory authority in any jurisdiction. The information contained herein does not constitute: (i) a binding legal agreement; (ii) legal, regulatory, tax, accounting or other advice; (iii) an offer, recommendation income solutions. STRATEGY or solicitation to buy or sell shares in any fund, security, commodity, financial instrument or derivative linked to, or otherwise included We specialise in providing strategies that in a portfolio managed or advised by RWC; or (iv) an offer to enter into any other transaction whatsoever (each a “Transaction”). No www.rwcpartners.com | E [email protected] | Authorised and regulated by the Financial Conduct Authority Global Convertibles representations and/or warranties are made that the information contained herein is either up to date and/or accurate and is not are not only interesting but appropriate for intended to be used or relied upon by any counterparty, investor or any other third party. evolving times. We offer a distinct range of Enhanced Dividend RWC uses information from third party vendors, such as statistical and other data, that it believes to be reliable. However, the accura- portfolios which allow our clients to invest in Global Emerging Markets Equity cy of this data, which may be used to calculate results or otherwise compile data that finds its way over time into RWC research data developed and emerging market equities, European Equity stored on its systems, is not guaranteed. If such information is not accurate, some of the conclusions reached or statements made may be adversely affected. RWC bears no responsibility for your investment research and/or investment decisions and you should convertible bonds and income solutions. US Long/Short Equity consult your own lawyer, accountant, tax adviser or other professional adviser before entering into any Transaction. Any opinion ex- pressed herein, which may be subjective in nature, may not be shared by all directors, officers, employees, or representatives of RWC and may be subject to change without notice. RWC is not liable for any decisions made or actions or inactions taken by you or others based on the contents of this document and neither RWC nor any of its directors, officers, employees, or representatives (including affiliates) accepts any liability whatsoever for any errors and/or omissions or for any direct, indirect, special, incidental, or conse- quential loss, damages, or expenses of any kind howsoever arising from the use of, or reliance on, any information contained herein

* AUM as at 30/11/18

44 45 ASSET MANAGER’S GUIDE

SCHRODERS UBS GLOBAL ASSET 875 Third Avenue MANAGEMENT 22nd Floor 1285 Avenue Of The Americas New York, NY 10022 New York, NY 10019 Tel: +(1) 646 747 4849 Tel: +(1) 212 882 5285 WWW.FUNDSSOCIETY.COM

Gonzalo Binello Fátima Meneses Head Intermediary Offshore Business ED - Executive Director Funds Society is the meeting point for asset and wealth management [email protected] [email protected] professionals in the U.S NRI, Latin America and Spain

SEI VANGUARD 9,000 subscribers to Funds Society’s daily newsletters 1 Freedom Valley Drive 100 Vanguard Blvd Oaks, PA 19456 Malvern, PA 19355 45,000 monthly unique users for www.fundssociety.com Tel: +(1) 610 676 2436 Tel: +(1) 610 503 9893 5,000 subscribers to our print magazines in United States and Spain

Iván Pabón Eduardo Mendes Latin America Director Asset Management Head of Distribution, South America and Distribution US Offshore [email protected] [email protected]

STRATEGIC INVESTMENTS GROUP VIRTUS INVESTMENT PARTNERS 146 Buckingham Palace Road 100 Pearl Street London SW1W 9TR Hartford, CT 06103 Tel: +44 (0) 207 661 8152 Tel: +(1) 215 208 9926

Adam Faithfull Lijo John [email protected] Managing Director, Offshore Fund Distribution STATE STREET GLOBAL [email protected] ADVISORS State Street Financial Center VONTOBEL One Lincoln Street 801 Brickell Ave 9th floor 30th Floor Miami, FL 33131 Boston, MA 02111 Tel: +(1) 917 453 8876

Nick Good Jose Luis Ezcurra Global Co-Head Global SPDR Business Country Head Iberia, LatAm & US Offshore [email protected] [email protected]

THORNBURG INVESTMENT Michael J. Kearns MANAGEMENT Head of US Offshore Distribution 2300 North Ridgetop Road [email protected] Santa Fe, NM 87506 +(1) 305 988 6765 If you are interested in receiving a complimentary copy of our Vince Leon print magazine and newsletters, please contact us at Director Offshore Advisory Channel [email protected] [email protected]

46 47 ASSET MANAGER’S GUIDE

COMPANY INFORMATION

Head office

Thornburg Investment Management HOW WE HOW WE HOW WE’RE 2300 North Ridgetop Road Santa Fe, New Mexico 87506 THINK INVEST STRUCTURED Director, Offshore Advisory Channel Telephone +1 305-988-6765 Active Flexible Perspective Independent Vince León Long Term High Conviction Investment Driven Email [email protected] Benchmark Agnostic Repeatable & Robust Collaborative I Web www.thornburg.com

approach to equity inves- ALTERNATIVES equity strategy strives to miti- ting. Our investment culture Our long/short equity strategy gate risk while increasing the Assets Under Management Employees demands diversity of thought, is a natural extension of our potential for greater return. rigorous debate and collabo- bottom-up, fundamental secu- 46 US$ bn 246 ration across asset classes. rity selection process, which is Through active security selec- This creates wide investment flexible, collaborative, and far tion, we hope to generate full opportunity sets, but also the from the herd. Applying the market cycle returns similar to long-term conviction neces- same firm-wide discipline in the S&P 500 Index, but with Independently owned and privately held since inception sary to create concentrated, how we think and invest less volatility. flexible strategies. differently, our long/short

WHO WE ARE PEOPLE approach, we seek to provide At Thornburg, we believe Our investment team embra- clients with attractive returns Investments carry risks, including possible loss of principal. unconstrained investing leads ces a go-anywhere, collabora- and stability of principal. All data as of 9/30/18 to better outcomes for our tive approach when searching clients. We oversee diver- for opportunities across We launched our first mutual sified investment solutions geographies, sectors, and fund in 1984 — a laddered across fixed income, global asset classes. municipal bond strategy. equity, and alternatives for Since then, we have launched institutions and financial FIXED INCOME a series of actively managed advisors around the world. For Thornburg was founded on portfolios that can be used to nearly four decades, we have the belief that fixed income build a strong foundation for a delivered idiosyncratic alpha managers could do a better diversified portfolio. to our clients with innovative job of preserving wealth for investment solutions that are investors through active EQUITY highly active, high conviction, management. With a strai- For decades, we have emplo- and benchmark agnostic. ghtforward, fundamental yed a bottom-up, fundamental

HOW WE DO IT When it comes to finding opportunity for clients, it’s Investment Professionals 39 more than what we do. It’s Average PM Experience (yrs) 19 how we do it. Average Tenure of PMs (yrs) 11 Annual Research Visits to Foreign Countries >750

Thornburg’s LEED gold certified headquarters in Santa Fe, New Mexico

48 49 GRACIAS A TODOS NUESTROS COLABORADORES, QUE HAN HECHO POSIBLE EL ÉXITO DE

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ASSET MANAGER’S GUIDE 2019