ASSET MANAGER’S GUIDE 2021 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] DIGITAL MARKETING: Madina Kurbanova - [email protected]

MARKETING AND ADVERTISING: Elena Santiso - [email protected] Nazaret Mora - [email protected]

DESIGN AND LAYOUT: El Sofá Verde PRINT: Bellak Color

FUNDS SOCIETY’S BOARD OF DIRECTORS Alicia Jimenez – Managing Partner Elena Santiso – Managing Parter – Business Development

FUNDS SOCIETY is a trademark of KABE MAS LLC 1200 Brickell Avenue; 18th floor Miami, FL 33131 +1-786 429-0248

The contents and/or services provided by Funds Society are of a financial nature and are aimed 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 information. Funds Society may include facts, views, opinions and recommendations of individuals and organizations deemed of interest. Funds Society does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse, these views, opinions or recommendations. The content of this guide is not intended for the retail or for the wealth management professional who’s clients are residents of the U.S.

2 DEAR READER,

As we turn the page towards 2021, leaving behind the most disruptive year for our generation, it is with great pleasure that from Funds Society we can contribute to some normalcy presenting the fifth edition of our Asset Manager’s Guide NRI, a comprehensive list of asset management firms providing UCITS investment solutions to investment professionals in the wealth management non resident industry.

For once in recent history, neither the financial sector nor the markets have been the source of this crisis. On the contrary, banks and investment firms have been part of the solution. 2020 brought important mergers in the asset management industry, but so did the previous year and the one before. The relevance of having local business development teams in a year when traveling has been nearly impossible has probably accelerated new deals with distributors that are gaining weight in the industry. Technology has helped us do the rest, and between zoom meetings and virtual summits, asset management firms have been able to conduct business in an ‘almost normal’ fashion. It is also necessary to point out another trend that has been identified recently by a survey conducted by CFA Institute as one of the most important for the coming decade: Sustainable Investing. We are finally investing the way we live, hoping to make this world a better place for the generations to come, while producing at the same time healthy returns for our clients. And the good news is that each day this is more a demand-driven trend, and less a regulatory imposition.

To help you map the asset management NRI market we list almost 58 international asset management firms who do business in the NRI market through their UCITS range of products, and their contacts.

We are also presenting additional information from 17 of these firms stating their business proposal for the region.

We truly hope this guide is a useful tool for all of you, but above all, we hope we can see you all in person soon.

Best Wishes,

Alicia Jimenez Founding Partner, Director Funds Society

3 ASSET MANAGER’S GUIDE

INDEX

Capital Group 8 Natixis Investment Managers 30

Franklin Templeton 12 New Capital by EFG AM 32

GAM 14 Ninety One 34

Janus Henderson 16 Pictet Asset Management 36

Matthews 18 RWC Partners 38

MFS 20 40

M&G Investments 24 Thornburg IM 44

Morgan Stanley IM 26 Vontobel 46

Muzinich & Co. 28

AMUNDI PIONEER 6

AVIVA INVESTORS AMERICAS 6

AXA INVESTMENT MANAGERS 6

BLACKROCK 6

BNY MELLON 6

BRANDES INVESTMENTS PARTNERS 6

CALAMOS INVESTMENTS 6

CANDRIAM INVESTORS GROUP 6

CAPITAL STRATEGIES PARTNERS A.V 7

CAPITAL GROUP 7

CARMIGNAC 7

COLUMBIA THREADNEEDLE INVESTMENTS 7

CULLEN 7

DIMENSIONAL FUND ADVISORS 7

DOUBLELINE 7

DWS 10

EATON VANCE 10

FRANKLIN TEMPLETON 10

GAM 10

GOLDMAN SACHS 10

HSBC ASSET MANAGEMENT 10

IM GLOBAL PARTNERS 10

4 10

JANUS HENDERSON INVESTORS 10

J.P. MORGAN ASSET MANAGEMENT 10

JUPITER ASSET MANAGEMENT 11

LA FRANÇAISE 11

LARRAINVIAL ASSET MANAGEMENT 11

LAZARD ASSET MANAGEMENT 11

LORD ABBETT 11

MAN GROUP 11

MATTHEWS ASIA 11

MFS INTERNATIONAL 11

M&G INVESTMENTS 22

MORGAN STANLEY INVESTMENT MANAGEMENT 22

MUZINICH 22

NATIXIS INVESTMENT MANAGERS 22

NEUBERGER BERMAN 22

NEW CAPITAL BY EFG ASSET MANAGEMENT 22

NINETY ONE 22

NN INVESTMENT PARTNERS 23

NUVEEN INVESTMENTS 23

PICTET ASSET MANAGEMENT 23

PIMCO 23

PINEBRIDGE INVESTMENTS 23

ROBECO 23

RWC PARTNERS 23

SCHRODERS 23

SEI 42

THE AMCS GROUP 42

THORNBURG INVESTMENT MANAGEMENT 42

VANGUARD 42

VIRTUS INVESTMENT PARTNERS 42

VONTOBEL 42

WELLINGTON 42

5 ASSET MANAGER’S GUIDE

AMUNDI PIONEER BNY MELLON INVESTMENT 1111 Brickell Avenue MANAGEMENT Suite 1500 Jose Abascal 45 Miami, FL 33131 28003 Tel : +(1) 305 982 1553 Tel: +(34) 91 744 5800 *distributed by Unicorn Strategic Partners Laura Palmer Head of U.S. Intermediary and Offshore Sasha Evers Distribution Managing Director Iberia & Latin America [email protected] [email protected] Nuno Loureiro David Ayastuy U.S. Offshore Regional Vice President Manging Partner [email protected] [email protected] Michael J. Kearns AVIVA INVESTORS AMERICAS Head of US Offshore Distribution St Helen’s, 1 Undershaft [email protected] Milagros Silva EC3P 3DQ Sales Manager [email protected] James Houston Client Services Manager BRANDES INVESTMENTS [email protected] PARTNERS Maria Cassisi Dublin Head of Relationship Management, Tel : +35316182700 Americas [email protected] Jorge Claveria Business Development INVESTMENT MANAGERS [email protected] 100 West Putnam Ave 4th Floor CALAMOS INVESTMENTS Greenwich, CT 06830 USA 2020 Calamos Court Tel: +(1) 203 983 4273 Naperville IL 60563 Tel: +1 773 255 0188 Rafael Tovar Director, US Offshore Distribution Carlos Soriano [email protected] Investment Consultant - International [email protected] BLACKROCK Park Avenue Plaza CANDRIAM INVESTORS GROUP 55 East 52nd Street 51 Madison Avenue New York, NY 10055 New York, NY 10010 Tel: +(1) 305 728 1189 Tel: +(1) 212 576 3382

Jordie Olivella Keith Dixson Head of Offshore Wealth Field Sales Team Head of International Development Jordie.Olivella@.com [email protected]

6 CAPITAL STRATEGIES COLUMBIA THREADNEEDLE PARTNERS A.V INVESTMENTS Madrid Madrid Tel: +(34) 620 55 72 42 Tel: +(34) 911 873 102

Jorge Benguria Rubén García Partner - US & Latam Advisor Head of Iberia & Latam Distribution [email protected] [email protected]

CAPITAL GROUP CULLEN 333 S. Hope Street, 53rd Floor 645 Fifth Avenue , CA 90071 Suite 700 New York New York, NY 10022 Tel: +(1) 646 265 9699 Tel: +(1) 212 644 1800 Miami Tel: +(1) 305 202 2913 Andrew Prescott [email protected] Jameel Jiwani Tel: +(1) 305-798-7979 Regional Vice President - Northeast Mitchell Rind [email protected] [email protected] Luis Arocha Tel: +(1) 631 807 6428 Regional Vice President - Southeast and Uruguay DIMENSIONAL FUND ADVISORS [email protected] Palisades West, 6300 Bee Cave Road Paulino Medina Building One Regional Vice President- Texas Austin, TX 78746 & West Coast Tel: +(1) 512 306 5917 [email protected] Javier Arriagada CARMIGNAC Regional Director - Latin America & Offshore Paseo Eduardo Dato 18 [email protected] 3ro 28010 Madrid DOUBLELINE Tel: +(1) 786 590 9025 333 South Grand Avenue Tel: + (34) 610 710 573 18th Floor Los Angeles, CA USA Charlotte Samson Tel: +(1) 646 675 3042 Director Business Development US Offshore & Latam Joel Peña [email protected] US Offshore, Canada & Latin America Sara Lublanis [email protected] Client Relationship Manager US Offshore & Latam [email protected]

7 COMPANY INFORMATION Headquarters

Capital Group 333 S. Hope Street, Los Angeles CA 90071

Website capitalgroup.com/offshore

CAPITAL GROUP HAS BEEN FOCUSED ON SEEKING BETTER OUTCOMES FOR INVESTORS FOR NEARLY 90 YEARS.

Helping investors succeed Capital Group has 12 invest- We’re pleased to offer a range has helped us grow. ment and research offices of investment strategies Today, we’re one of the around the world. Our glob- to meet the needs of your world’s largest investment ally integrated, fundamental offshore clients. management organizations, research powers our ability to managing US$2 trillion. identify investment opportu- Discover more at nities and risks. capitalgroup.com/offshore

Our global research provides proprietary insights

429 103 228 Investment Portfolio Investment professionals managers analysts

159 45 54 Investment Languages Countries professionals spoken of origin based outside the U.S.

As of June 30, 2020.

8 ASSET MANAGER’S GUIDE

Connect with our dedicated U.S. Offshore Team We look forward to partnering with you to find the right solutions for your clients

Southeast & Uruguay Northeast Texas & West Coast

Luis Arocha Jameel Jiwani Paulino Medina Regional Vice President Regional Vice President Regional Vice President +1 (305) 202-2913 +1 (646) 265-9699 +1 (832) 886-7255 [email protected] [email protected] [email protected]

Southeast & Uruguay Northeast, Texas & West Coast

Eddie Rascon, CFP®, CIMA® Ben Ehrlich U.S. Offshore Portfolio Advisory Resource Specialist Consultant +1 (212) 641-1707 +1 (210) 474-2183 [email protected] [email protected]

The manage equities through three investment divisions that make investment and proxy voting decisions independently. investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

Regulatory information Risk factors you should consider before investing:

• This material is not intended to provide investment advice or be considered a personal recommendation. • The value of investments and income from them can go down as well as up and you may lose some or all of your initial investment.

This material, issued by Capital International Management Company Sàrl (“CIMC”), 37A avenue J.F. Kennedy, L-1855 , is distributed for information purposes only. CIMC is regulated by the Commission de Surveillance du Secteur Financier (“CSSF” – Financial Regulator of Luxembourg) and is a subsidiary of the Capital Group Companies, Inc. (Capital Group). While Capital Group uses reasonable efforts to obtain information from third-party sources which it believes to be reliable, Capital Group makes no representation or warranty as to the accuracy, reliability or completeness of the information. This communication is not intended to be comprehensive or to provide investment, tax or other advice. © 2020 Capital Group. All rights reserved. STR NRC

9 ASSET MANAGER’S GUIDE

DWS Lucia Catalán 875 Third Avenue. 26th Floor Head of Iberia & Latin America Third Party New York, NY 10022 Distribution Tel: +(1) 212-454-0285 [email protected] Tel: +(1) 347-430-7745 HSBC ASSET MANAGEMENT Jesus Martin-del-Burgo 452 Fifth Ave. 7th Floor Head of Latin America & U.S. Offshore NewYork, NY 10018 Coverage Tel: +(1) 212 525 6054 [email protected] Salvador Gomez Shadia Fayad Head of Passive Sales-Latin America Institutional Sales & U.S. Offshore [email protected] [email protected] IM GLOBAL PARTNERS EATON VANCE 78 SW 7th Street Two International Place FL 33130 Miami Boston, MA 02110 Tel: +(1) 305 240 1920 Peter Stockall Director US Offshore and Latin America Juan Garcia [email protected] Associate Regional Sales Representative Offshore Specialist INVESCO [email protected] Invesco Distributors, Inc. Two Peachtree Pointe FRANKLIN TEMPLETON 1555 Peachtree Street, N.E., Suite 1800 100 Fountain Pkwy. 2nd floor , Georgia 30309. U.S.A. St. Petersburg, FL 33716 Direct Line: +1 404-439-3471 Tel: +(1) 727 299 3313 Mobile: +1 404-775-3343

Shane Cunningham Robert (Rhett) Baughan Jr. National Sales Manager US Offshore Sales Head of US Offshore Distribution [email protected] [email protected]

GAM JANUS HENDERSON INVESTORS One Rockefeller Plaza. 21st Floor 201 Bishopsgate - London - New York, NY 10020 EC2M 3AE - United Kingdom Tel: +(1) 212 407 4610 Tel: +(44) 2078184411

Carmen van Roon Pence, CAIA Ignacio De La Maza Director - Intermediary Sales Head Sales &Latam [email protected] [email protected] Andrea Vaitukaitis Director – Intermediary Sales J.P. MORGAN ASSET [email protected] MANAGEMENT 277 Park Avenue. 8th Floor GOLDMAN SACHS New York, NY 10172 Madrid Tel: +(1) 212-648-2513 Tel: +(34) 91 700 6000

10 John H. Oestreicher Eduardo Mora Executive Director Offshore Distribution [email protected] [email protected] Philip Judson Executive Director - Head of Offshore LORD ABBETT [email protected] 90 Hudson Street Jersey City, JUPITER ASSET MANAGEMENT* NJ 07302-3973 The Zig Zag Building Tel: +(1) 201 827 4266 70 Victoria Street London, SW1E 6SQ Martin Hofstadter Tel: +44 (0) 20 3817 1000 Director US Offshore - The Americas *distributed by Atlantic Zagros Financial [email protected] Partners William Lopez London / Montevideo Head of Latin America and US Offshore Riverbank House, 2 Swan Lane | London [email protected] EC4R 3AD | United Kingdom Tel. +44 207 144 3377 LA FRANÇAISE Castellana 92. 28046 Madrid Gadi Slamovitz Tel: +(34) 91 76 97 902 Managing Director, Latin America [email protected] Gerardo Duplat Head of Business Development Iberia & MATTHEWS ASIA Latin America 4 Embarcadero Center [email protected] Suite 550 CA 94111 LARRAINVIAL ASSET Tel: +(1) 415 954 4510 MANAGEMENT 990 Biscayne Boulevard Jenny Ng O-901 VP, Global Client Relationship Management Miami FL, 33132 [email protected] * Represents: Aegon Asset Management, Jonathan Schuman Brown Advisory, Larrainvial asset Head of Global Business Development management, Pinebridge investments [email protected]

Sebastián Véliz MFS INTERNATIONAL [email protected] Miami Tel: +573176391825 801 Brickell Ave 9th floor, suites 915&918 LAZARD ASSET Tel: +(1) 305 987 0054 MANAGEMENT 777 Brickell Avenue Jose Corena Miami, FL 33131 Managing Director Americas Tel: +1 212 632 1325 [email protected] Cell: + 1 732 325 5899

11 AMERICAS OFFSHORE SALES

Contact Us

Franklin Templeton Investments 100 Fountain Parkway, St. Petersburg, FL 33716 Shane Cunningham

SVP - National Sales Telephone (800) 233-9796 Manager Americas Offshore Web templetonoffshore.com

AMERICAS OFFSHORE SALES TEAM

Dolores Ayarra Jose Zambrano Kevin Zhang VP Sales AVP Sales AVP Sales Executive, Executive, Executive, Western Southwest Southeast US & Vancouver, & Miami Canada

Johanna Julian Gomez Patricia Beans Falkowitz VP Sales Executive, VP, Strategic VP Sales Southeast, Puerto Accounts Executive, Rico & Islands Internal Sales Northeast US & Manager , Canada Americas ex-US Distribution

Aubrey Klaseen Jack Leung Rafael Galindez Nuñez Internal Internal Senior Internal Wholesaler, Wholesaler, Wholesaler, Northeast US & Southeast Southeast, Puer- Toronto, Canada & Citi (FL) to Rico & Islands

EVERYTHING WE DO HAS A SINGLE FOCUS: TO DELIVER BETTER CLIENT OUTCOMES

LOCAL INVESTMENT experienced and multicultural We provide clients access to CAPABILITIES staff for Fund Accounting, our active, smart-beta and Client Services, Risk Manage- passive investment strategies Americas Offshore offices ment, Legal & Compliance and across asset classes, inclu- provide unparalleled support Sales & Marketing, we ensure ding sustainable and ESG of our distribution partners that we continue to meet the options. All built with the con- across North and South diverse and changing needs sistent investment discipline America. By employing an of our clients in each market. and expertise of our speciali-

As of 30/06/20. 1. As of April 2020. Based on findings for Franklin Templeton from PwC’s 2020 Benchmark Your Global Fund Distribution Report which ranks asset managers on the number of countries in which their cross-border funds are distributed. 2. Based on information from the International Monetary Fund, World Economic Outlook Database, October 2019.

12 ASSET MANAGER’S GUIDE

zed teams. We offer over 100+ GLOBAL SCALE AND the specialized knowledge Offshore Funds, LAM “Local LOCAL INSIGHTS and local insights of our Asset Management” in 14 Re- investment teams located in gions with Brazil and Mexico As pioneers in global inves- financial capitals, inside emer- offerings, Institutional, ETFs, ting, we’ve long recognized ging markets, and at other SMAs and Custom Solutions that opportunity can spring strategic locations around designed to serve a variety of up anywhere. Today, we the world. Each of our invest- client needs and risk appeti- have offices in 34 countries. ment groups follows an tes worldwide. And we combine the strength independent and distinct of our truly global scale with investment philosophy.

OUR INVESTMENT CAPABILITIES

Equity Fixed Income Multi-Asset Solutions Alternatives

• Value • Government • Income • Private Debt • Deep Value • Municipals • Real Return • Hedge Funds • Core Value • Corporate Credit • Balanced/Hybrid • • Blend • Bank Loans • Total Return • Real Estate • GARP • Securitized • Target Date/Risk • Infrastructure • Growth • Multi-Sector • Absolute Return • Convertibles • Currencies • Tactical Asset • Sector • Sukuk Allocation • Shariah • Managed Volatility • Smart Beta • Thematic

OUR INVESTMENT BRANDS Our investment brands Our investment brands Franklin TempletonFranklin (1947) Templeton (1947) Franklin Templeton (1947) Western Asset (1971) Western AssetWestern (1971) Asset (1971) ClearBridge (2005) ClearBridge (2005)ClearBridge (2005) Brandywine Global (1986) Brandywine GlobalBrandywine (1986) Global (1986) Clarion Partners (1982) Clarion PartnersClarion (1982) Partners (1982) Benefit Street Partners (2008) Benefit Street BenefitPartners Street (2008) Partners (2008) Martin Currie (1881) Martin Currie (1881)Martin Currie (1881) QS Investors (1999) QS Investors (1999)QS Investors (1999) K2 Advisors (1994) K2 Advisors (1994)K2 Advisors (1994) Royce (1972) Royce (1972) Royce (1972)

Successful investing begins with ambition. And achievement only comes when you reach for it. So we never settle. We continually strive to deliver better outcomes for investors. No matter what your goals are, our deep, global investment expertise allows us to offer solutions that can help across investment objective, sales region and client type.

13 COMPANY INFORMATION

GAM USA Inc. Telephone +1 (212) 407 4600 One Rockefeller Plaza, 21st Floor Website www.gam.com New York, NY 10020, USA E-Mail [email protected]

GAM INVESTMENTS IS ONE OF THE WORLD’S LEADING INDEPENDENT, PURE-PLAY ASSET MANAGERS. WE PROVIDE ACTIVE INVESTMENT SOLUTIONS AND PRODUCTS FOR INSTITUTIONS, FINANCIAL INTERMEDIARIES AND PRIVATE INVESTORS.

For over 35 years we GLOBAL PRESENCE INDEPENDENT have employed an active AND REACH As an independent asset investment management With around 747 people manager we are able to approach based on original in 14 countries, we are a pursue and develop our thought, freedom of action truly global firm in scale business without many and true conviction investing. and resources, yet small of the constraints or enough to remain nimble pressures typically faced Our team consist of 136 and flexible to meet clients’ by asset managers that are investment professionals needs. We support our embedded in large financial covering an extensive range growth with an extensive conglomerates. We believe of investment styles, asset distribution network which this makes us an attractive classes and markets. includes sales, marketing, home for investment talent. product development and The core investment product management. Our Our processes and business is complemented investment professionals structures are designed by private labelling services, work from the global hubs to foster independent which include management of London, Cambridge, thinking and swift decision company and other support Zurich, , New York, making within a tightly services to third-party Lugano and . controlled risk framework. institutions. Our investment teams do not adhere to a particular ‘house style’. Instead, they are

14 ASSET MANAGER’S GUIDE

encouraged to maximize the active investment strategies innovation. Our constant potential of their portfolios across asset classes and drive to look forward and to by developing their own styles, with core capabilities adapt to the needs of our high-conviction views of the in fixed income, equity, clients helps us to capitalize markets. systematic, absolute return, on our strengths, addressing alternatives and multi asset secular industry trends COMPREHENSIVE solutions. with innovative, appropriate PRODUCT RANGE solutions. Over more than three PRODUCT INNOVATION decades, we have developed We have always placed a a comprehensive range of strong emphasis on product

BROAD RANGE OF TRADITIONAL AND ABSOLUTE RETURN STRATEGIES

Fixed income Multi asset Equity Systematic Alternatives Absolute return

Developed mkts Target return Developed mkts Diversified Alternative Equity long/ Europe Defensive Asia-Pacific Macro Investments short Global Core Europe Quantitative Solutions Emerging Inflation linked Plus Global multi strategy Multi strategy markets North America Japan Single strategy Europe Flexible North America Equity Advisory Global Emerging mkts Benchmark Long only solutions Thematic Blend constrained Emerging mkts Long/short Credit Benchmark Asia market neutral Macro/managed Hard currency unconstrained China futures Local currency Global Alternative risk Inflation linked Risk rated premia Fixed Income Defensive Thematic Specialist Cautious Healthcare ABS/MBS Balanced Luxury brands ILS/Cat bonds Growth Technology Convertibles Dynamic growth Credit/high yield

Tomás del Campo Carmen van Roon Pence, Andrea Vaitukaitis Client Manager CAIA Director – Interm. Sales 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] [email protected]

Alvaro Carbon Ripepi Juan Ramón Caridad, José Pedro Jácome Executive Director, CAIA, MFIA Client Director LatAm and Iberia Country Head Iberia + LatAm T +44 (0) 20 7917 2539 T +34 91 140 0715 T +34 (0) 91 140 0717 [email protected] [email protected] [email protected]

Isabel Navalon Carlos Álvarez García, MFIA Ana Maria Servia Blanco Client Support Executive Client Director Office Manager T +34 (0) 91 140 0716 T +34 (0) 91 140 0718 T +34 (0) 91 140 0723 [email protected] [email protected] [email protected]

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 and tax specialist. 15 COMPANY INFORMATION Headquarters

Janus Henderson Investors 201 Bishopsgate - London - EC2M 3AE - United Kingdom Ignacio de la Maza Telephone +442078184411 Head Sales Europe&Latam Email [email protected] Ignacio.delamaza@ janushenderson.com

US Offshore Sales Contacts

Paul Brito Albert Maruri Maria Cordova Jerry Fraustro Director Sales Director Sales Senior Sales Manager Associate Director Sales paul.brito@ albert.maruri@ maria.cordova@ jerry.fraustro@ janushenderson.com janushenderson.com janushenderson.com janushenderson.com

INVESTED IN CONNECTING cycles. Through times of both market calm The notion of “connecting” is powerful – it has and growing uncertainty, our managers apply shaped our evolution and our world today. At their experience weighing risk versus reward Janus Henderson, we seek to benefit clients potential – seeking to ensure clients are on through the connections we make. the right side of change.

Connections enable strong relationships with clients based on trust and insight as well WHY JANUS HENDERSON INVESTORS? as the flow of ideas among our investment At Janus Henderson, we seek to link our teams and our engagement with companies, world-class investment teams and experien- all of which allow us to make a positive diffe- ced global distribution professionals with our rence. These connections are central to our clients around the world. We believe in: values as a firm, to what stands for and to the outperformance we • Active because active matters seek to deliver. We selectively invest in what we believe are the most compelling opportunities. Our in- AT A GLANCE vestment teams are free to form their own Janus Henderson is a global asset manager views and seek to actively position portfo- with more than 345 investment professionals lios to connect clients with their objectives. and expertise across all major asset classes. Our individual, intermediary and institutional • Global strength to deliver local solutions clients span the globe and entrust us with We offer true global reach with a presence more than US $336.7bn of their assets*. Our in all major markets, combined with the commitment to active management offers responsiveness, tailored solutions and clients the opportunity to outperform personal touch you would expect from a passive strategies over the course of market local partner.

For US Financial professionals servicing non-US persons. Not for onward distribution. For promotional purposes.

16 Janus Henderson is a global asset manager with more than 345 investment professionals and expertise across all major asset classes. Our individual, intermediary and institutional clients span the globe and entrust us with more than US$336.7bn of their assets*. Our commitment to active management offers clients the opportunity to outperform passive strategies over the course of market cycles. Through times of both market calm and growing uncertainty, our managers apply their experience weighing risk versus reward potential – seeking to ensure clients are on the right side of change.

WHY JANUS HENDERSON INVESTORS? At Janus Henderson, we seek to link our world-class investment teams and experienced global distribution professionals with our clients around the world. We believe in:

ASSET MANAGER’S GUIDE

ASSET MANAGER’S GUIDE

• Empowering clients through Knowledge Shared GLOBAL STRENGTH We connect our clients with insights and knowledge that empower them to make better investment and 14% 56% business decisions. Assets under $336.7B AS A CLIENT,YOU SHOULD EXPECT: management AS A CLIENT, YOU SHOULD EXPECT 1. Collaboration 30% 1. CollaborationWe work as teams across functions towards the end goal of delivering for We work as teamsclients. across We believe functions in blending the towards views of experts the and end reaching goal solutions together. 13% 46% of delivering for clients. We believe in blending the views Over 345 2. Alignment of experts and reaching solutions together. investment 2. Alignment We are a partner seeking to evolve what we offer and provide expert professionals We are a partnerinsight seeking to help inform to clientevolve decision-making what we throughout offer theand investment pro- journey. 41% vide expert insight to help inform client decision-making 3. A cess throughout the investment journey. 3. Access We continue to enhance our distribution channels and broaden our reach across product ranges to allow more clients to tap into our areas of We continue to strength.enhance our distribution channels and More than 2,000 broaden our reach across product ranges to allow more employees 4. Support clients to tap into our areas of strength. 4. Support Investment performance is what we seek to deliver but there are additional ways that we can add value as an active manager. These vary Investment performanceby the needs ofis our what clients, we but seek we offer to our deliver services but as widely as there are additionalpossible. ways that we can add value as an active manager. These vary by the needs of our clients, 27 Offices but we offer our services as widely as possible. worldwide INVESTMENT EXPERTISE: INVESTMENT EXPERTISEWe offer expertise across all major asset classes, with investment teams situated around the world. These teams and their approaches are shaped with the client in mind. Products are developed to meet evolving needs, Over 4,300 We offer expertiseand investment across managers all major operate asset within clearly classes, articulated with parameters as investment teamsthey seek situated to achieve aroundstated or agreed the upon world. objectives. These Transparency of companies met teams and theirprocess, approaches positioning and are progress shaped towards with meeting the objectives client are central by investment to our approach, and our investment and distribution teams seek to keep in mind. Productsclients are informed developed at every stage. to meet evolving needs, teams in 2019 and investment managers operate within clearly articula- ted parameters as they seek to achieve stated or agreed North America EMEA & LatAm upon objectives. Transparency of process, positioning Asia Pacific and progress towards meeting objectives are central to * our approach, and our investment and distribution teams Source: Janus Henderson Investors, as at 30 June 2020. seek to keep clients informed at every stage.

For US Advisors to non-US Persons. Not for onward distribution. Past performance is not a guide to future performance. The performance data does not take into account the commissions and costs incurred on the issue and redemption of units. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor’s particular circumstances and may change if those circumstances or the law change. If you invest through a This material is intendedthird party solely provider for you use are advised by financial to consult them professionals directly as charges, from performance US only, and terms servicing and conditions non-US may differ persons materially. Nothingonly, wherein this document non-US is intended to or should be construed as advice. This document is not a recommendation to sell or purchase any investment. It does not form part of any contract Janus Henderson fundsfor the are sale madeor purchase available of any investment. to local The financialsecurities included professionals in this document for are notsale registered to persons in the Foreign based Securities overseas Registry of theor Superintendenciacross-border only. This material is notde Valores intended y Seguros for for public citizens offering orand, residents therefore, the useof theof this United document States.is only for general information purposes. Any investment application will be made solely on the basis of the information contained in the Fund’s prospectus (including all relevant covering documents), which will contain investmentes restrictions. This document is intendedThis document solely is intended for the as ause summary of professionals,only and potential investors defined must read as theEligible Fund’s prospectus Counterparties and key investor or informationProfessional document Clients, before investinges and . is not for general publicWe distribution. may record telephone The calls opinions for our mutual and protection, views to expressedimprove customer are service as and of for the regulatory date record published keeping purposes. and are subject to change The Janus Henderson Fund (the “Fund”) is a Luxembourg SICAV incorporated on 26 September 2000, managed by Henderson Management S.A. A copy of the without notice. They Fund’sare for prospectus, information key investor purposes information document, only and articles should of incorporation, not be annual used and or semi-annual construed reports as can anbe obtained offer tofree sell, of cost a from solicitation the Fund’s of an offer to buy, or a recommendationregistered office in Luxembourg: to buy, 2 Rue sell de Bitbourg, or hold L-1273 any Luxembourg. security, investment strategy or market sector. No forecasts can The Janus Henderson Horizon Fund (the “Fund”) is a Luxembourg SICAV incorporated on 30 May 1985, managed by Henderson Management S.A. A copy of the be guaranteed. OpinionsFund’s prospectus,and examples key investor are information meant document, as an articles illustration of incorporation, of annualbroader and semi-annual themes reports and can are be obtainednot an free indication of cost from the of local trading offices intent. It is not intendedof Janus to Henderson indicate Investors: or imply 201 Bishopsgate, that any London, illustration/example EC2M 3AE for UK. mentioned is now or was ever held in any portfolio. Janus Henderson Capital Funds Plc is a UCITS established under Irish law, with segregated liability between funds. Investors are warned that they should only Janus Henderson Groupmake their plc investments through based its onsubsidiaries the most recent Prospectusmay manage which contains investment information about products fees, expenses with and a risks,financial which is availableinterest from inall distributorssecurities mentioned herein andand any paying comments agents, it should should be read carefully. not be An investment construed in the fundas amay reflection not be suitable on for theall investors past and or is futurenot available profitability. to all investors in There all jurisdictions; is no it is not available to US persons. The rate of return may vary and the principal value of an investment will fluctuate due to market and foreign exchange move- guarantee that the informationments. Shares, if suppliedredeemed, may is be accurate, worth more or complete, less than their originalor timely, cost. nor are there any warranties with regards to the re- sults obtained from itsIssued use. by JanusPast Henderson performance Investors. Janusis not Henderson guarantee Investors ofis the future name under results. which investment Investing products involves and services risk, are including provided by Janus the Capital possible Inter- national Limited (reg no. 3594615), Henderson Global Investors Limited (reg. no. 906355), (each registered in England and Wales at 201 Bishopsgate, London EC2M loss of principal fluctuation3AE and regulated of value. by the FinancialActively Conduct managed Authority) andportfolios Henderson Managementmay fail S.A.to (regproduce no. B22848 the at 2 Rueintended de Bitbourg, results. L-1273, Luxembourg No investment and regulated strategy can ensure bya profitthe Commission or eliminate de Surveillance the du riskSecteur of Financier). loss. We [Janus may Henderson, record Janus, telephone Henderson, Perkins, calls Intech,for our Alphagen, mutual VelocityShares, protection, Knowledge. to Sharedimprove and 21 customer service andKnowledge for regulatory Labs] are trademarks record of keepingJanus Henderson purposes. Group plc or one of its subsidiaries. © Janus Henderson Group plc. For more information or to locate your country’s Janus Henderson Investors representative contact information, please visit www.janushenderson.com Janus Henderson Investors is the name under which investment products and services are provided by Janus Capital Interna- tional Limited (reg no. 3594615), Henderson Global Investors Limited (reg. no. 906355), Henderson Investment Funds Limited (reg. no. 2678531), AlphaGen Capital Limited (reg. no. 962757), Henderson Equity Partners Limited (reg. no. 2606646), (each registered in England and Wales at 201 Bishopsgate, London EC2M 3AE and regulated by the Financial Conduct Authority) and Henderson Management S.A. (reg no. B22848 at 2 Rue de Bitbourg, L-1273, Luxembourg and regulated by the Commission de Surveillance du Secteur Financier). Janus Henderson, Janus, Henderson, Perkins, Intech, Alphagen, VelocityShares, Knowled- ge Shared, Knowledge. Shared and Knowledge Labs are trademarks of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc.

17 COMPANY INFORMATION

Head office

Matthews Asia

Four Embarcadero Center, Suite 550 VP, Global Client Head of Global San Francisco, CA 94111 Relationship Sales and Client Management Services

Jenny Ng Jonathan Telephone +1-415-954-4510 Schuman

Email [email protected] [email protected] Web global.matthewsasia.com [email protected]

INVESTING WITH AN ASIA SPECIALIST

Matthews Asia is an facilitate our delivery of a in-depth, on-the ground fun- independent, privately consistent and distinctive damental research to identify owned investment manager value proposition to our the most compelling oppor- headquartered in San clients and partners. tunities while minimizing Francisco with offices downside risk. in London, Hong Kong, OUR INVESTMENT Shanghai and . STRATEGIES WHY MATTHEWS ASIA? Founded in 1991, the firm manages a broad range of Our investment strategies Our people share a set of Asia-focused investment range from country-specific important values. Some of solutions that include to pan-regional solutions that the factors that we believe global, regional and single provide diverse exposure differentiate Matthews Asia country strategies on behalf across styles, sectors, from our peers include: of institutions, advisors themes and market capitali- and individual investors zation, to capitalize on some • Focus and Specialization globally. For over 29 years, of the newest and most As an Asia specialist, our bottom-up, active promising long-term opportu- Matthews Asia is focused investment approach has nities we see in the market. on investing in the Asia focused on identifying the Pacific region. most attractive long-term OUR INVESTMENT growth opportunities in APPROACH • Independence Asia’s diverse markets. Our We are an independent, portfolios typically feature Rather than passively relying privately held company, which low turnover rates and high on either equity or fixed in- creates a supportive envi- active share, with holdings come indices built on histori- ronment for the long-term that differ significantly from cal performance, we seek to investment horizon that we their benchmarks. Our long- generate attractive returns apply to selection and term perspective and culture by actively managing our portfolio construction. of independent thinking portfolios and conducting

18 ASSET MANAGER’S GUIDE

• Experience Matthews Asia’s principals Strategies for have extensive investment management tenure within investing in Asia the firm and deep investment experience within Asia and ASIA FIXED INCOME ASIAN GROWTH AND INCOME broader Emerging Markets.

• Asia Total Return • Asia Dividend • Balance of Teamwork Bond • Asia ex Japan and Accountability • Asia Credit Dividend Our San Francisco-based in- Opportunities • China Dividend vestment team sits together on one open floor and shares ideas formally and informally. ASIA GROWTH ASIA SMALL COMPANY

This leverages the intellectual • Pacific Tiger • Asia Small capital of the team for the • China Companies benefit of our clients’ port- • India • China Small folios. • Japan Companies

The above Matthews Asia Funds are currently available as Luxembourg-domiciled UCITS.

For Institutional/Professional Investors Only The Fund is a sub-fund of Matthews Asia Funds SICAV, an , with segregated liability between sub-funds, established as an open-ended investment company with variable capital and incorporated with limited liability under the laws of Luxembourg.

Investment involves risk. Past performance is no guarantee of future results. The value of an investment in the Fund can go down as well as up. An investment in Matthews Asia Funds may be subject to risks, such as social and political insta- bility, market illiquidity, exchange-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 visiting global.matthewsasia.com. Please read the Offering Documents carefully before investing as they explain the risks associated with investing in international and emerging markets. It is the responsibility of any persons wishing to subscribe 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 of their citizenship, residence, domicile and place of business with respect to the acquisition, holding or disposal of shares, and any foreign exchange restrictions that may be relevant thereto.

The shares described in each Fund’s prospectus and the related documents have not been registered or qualified under the laws of, and may not be offered or sold, directly or indirectly, to the public in Chile, Colombia or Peru. The Fund’s pros- pectus and other related materials and documents have not been filed with or approved by the regulatory authorities of Chile, Colombia or Peru and are not intended to constitute a public offering in such countries and should not be construed as such. In particular, these materials shall not constitute an offer to sell or a solicitation of an offer to buy the shares described in each Fund’s prospectus and in the related materials and documents and no steps may be taken that would constitute or result in a public offering or distribution of the shares in Chile, Colombia or Peru, including by use of any public advertisement of similar public communication.

Matthews Asia is the brand for Matthews International Capital Management, LLC and its direct and indirect subsidiaries. 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 represent that it is otherwise registered with any other regulator or regulatory body. ©2020 Matthews International Capital Management, LLC G. BR051_2020

19 Expertise Through Collaboration

FACTS & FIGURES*

• Founded in 1924 • $534 billion in • A broad range of global, regional equity and fixed income investment products • Nine worldwide research offices and eight sector teams; 287 equity, credit and quantitative investment professionals monitoring securities globally

As of 09/2020

CONTACT US L. Jose Corena 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 • Ignacio Durañona - Director: [email protected] / +54911 4165-5183 Sales Representative • Diana Rueda: [email protected] / +305-789-6678 Chile and Peru • Enrique Pérez Iturraspe - Director: [email protected] /+569 7614-6486 Sales Representative • Pablo Rodriguez: Sales Representative for Panama and Colombia [email protected] /+617-954-6044 Southeast US, Caribbean, Costa Rica, Central America, Panama*, Colombia**, Mexico, US West Coast, Western Canada and Hawaii • Philip Dieffenbacher - Director [email protected] / +1 646-306-9206 • Eric Figueroa - Associate Director [email protected] / +1 786-858-8789 • Drew Chisholm - Regional Manager [email protected] / +1 617-954-5682 • Henry Myers - Sales Representative, Southwest and West Coast Regions [email protected] / +1 617 954 5682 Sales Representative • Luis Carlos Ramirez: [email protected] / +1 617-954-4195 • ** Pablo Rodriguez: [email protected] / +1 617-954-6044 Southwest US • Jennifer Whitney - Director: [email protected] / +1 512-415-6602 Northeast US, Bermuda and Eastern Canada • Danielle Spry - Director: [email protected] / +1 978-821-5355 Sales Representative • David Szabo: [email protected] / +1 617-954-4429

* All figures as at 30th September 2020 20 ASSET MANAGER’S GUIDE

Since launching the first MFS Meridian® Funds US open-end Capabilities To Help Meet Client Needs in 1924, MFS® has been committed to a single MULTI Global purpose: to create value by ASSET allocating capital responsibly US Corporate for clients. FIXED Global Corporate Through our powerful global INCOME Emerging Markets investment platform, we US Government / Sovereign uncover what we believe are the best investment Global opportunities in the market US through: EQUITY Emerging Markets • Collective expertise European • Thoughtful risk management Asia Pacific • Long-term discipline

COLLECTIVE RISK MANAGEMENT LONG-TERM DISCIPLINE EXPERTISE We aim to take risks when we Time is critical to investing. Diversity of thought is so believe we’ll be rewarded. To We need to focus on what critical to a sound investment help improve client outcomes, drives long-term value, thesis that we not only we focus on fundamentals position in light of market encourage it, we insist on and assess material factors volatility and have the it. Good investment ideas that could jeopardize a conviction to take advantage become great decisions when company’s long-term value. of the opportunities we they can stand the test of identify. active debate.

• Sustainable investing describes our fundamental investment process; it is not a separate discipline with different inputs or outcomes. As such, our sustainable investment process requires that all of our investment professionals are actively engaged in, and responsible for, its success. • Our approach to sustainable investing encompasses the integration of material environmental, social, and corporate governance (ESG) factors into our investment process along with carefully considered proxy voting policies and thoughtful issuer engagement. This approach enables us to consistently identify companies that we believe exhibit sustainable, long-term competitive advantages which is essential to our sole purpose: to create value by allocating capital responsibly.

TODAY- MFS continues to expand with most recently our new distribution office in Miami:

• 801 Brickell Ave, 9th Floor / Suite #s 915 & 917 / Miami, FL 33131

See the fund’s offering documents for more details, including information on fund risks and expenses. For additional infor- mation, call Latin America: 416.506.8418 in Toronto or 352.46.40.10.600 in Luxembourg. MFS Meridian Funds is an investment company with a variable capital established under Luxembourg law. MFS Investment Mana- gement Company (Lux) S.ar.l. is the management company of the Funds, having its registered office at MFS ( 2nd Floor ), 4 Rue Al- bert Borschette, Luxembourg L1246 (Company No. B.76.467). The Management Company and the Funds have been duly authorized by the CSSF (Commission de Surveillance du Secteur Financier) in Luxembourg. 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 or Canada or to US persons. 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. FOR INVESTMENT PROFESSIONAL USE ONLY. Not intended for retail investors. 44599.3

21 ASSET MANAGER’S GUIDE

M&G INVESTMENTS Sophie del Campo 1395 Brickell Avenue Executive Managing Director Iberia, Latin Suite 800 America and US Offshore Miami, FL 33131 [email protected] Tel: +(1) 786 589 3815 NEUBERGER BERMAN Ander López 1290 Avenue of the Americas Sales Director – LATAM y U.S Offshore New York, NY 10104 [email protected] Tel: +(1) 305 979 5146 Luis Solorzano Sales Manager LATAM y U.S Offshore. Lauren Rahaghi [email protected] Head of US Offshore [email protected] Jose Garcia MORGAN STANLEY INVESTMENT NRC-NRA Advisor Consultant - US Offshore MANAGEMENT [email protected] 522 5th Avenue, New York, NY 10036 Charles Conklin New York, NY 10036 NRC-NRA Advisor Consultant Associate - Tel: +(1) 305 533-5410 US Offshore Tel: +(1) 305 533-5320 [email protected]

Carlos Andrade NEW CAPITAL BY EFG ASSET Managing Director, Head of Latin America MANAGEMENT and US Offshore Sales 24 Qual de Seujet, P.O. Box 2391 [email protected] 1211 - Switzerland Tel: + 41 22918 71 71 MUZINICH Email: [email protected] Madrid Tel: +(34) 910 848 895 George Gandarias SVP Investment Solutions Sales Rafael Ximénez de Embún, CFA Tel: +1 305 482 8184 (1) Managing Director Iberia and Latam Donald Klotter [email protected] SVP Global Head of Institutional Sales Tel: +41 44 226 1808 (2) NATIXIS INVESTMENT MANAGERS 888 Boylston Street NINETY ONE Boston, MA 02199-8197 65 East 55th Street Tel: +(1) 888-449-4947 30th Floor New York, NY 10022 Rodrigo Nuñez Aguilar Tel: +(1) 917 206 5179 Senior Director, US Offshore and Latin America Key Accounts Richard Garland [email protected] Managing Director, Global Advisor [email protected]

22 NN INVESTMENT PARTNERS PINEBRIDGE INVESTMENTS Schenkkade 65, Park Ave Tower 2595 AS The Hague 65 East 55th St The Netherlands New York, NY 10022 Tel: +31 6 1207 9841 Tel: +(1) 646 857 8000

Iván Mascaró Guzmán Ryan Guthrie Managing Director – Latam & US Offshore Head of Offshore Business Development [email protected] [email protected]

NUVEEN INVESTMENTS ROBECO 501 Brickell Key Drive 1111 Brickell Ave. Suite 504 Suite 2125 Miami, FL 33131 Miami, FL 33131 Tel: +(1) 305 766 8555 Tel: +(1) 786 483 2500

Oscar Isoba Jimmy Ly Managing Director, Region Head - U.S. Executive Director Offshore & Latin America Head of Sales, Robeco Latam International Advisory Services & US Offshore [email protected] [email protected]

PICTET ASSET RWC PARTNERS MANAGEMENT 2640 South Bayshore Drive Pictet Asset Management (USA) Corp. Suite 201 712 5th Avenue. Miami, FL 33133 25th Floor Tel: +(1) 305 602 9501 New York, NY 10019 James Tollemache Jorge A. Corro Head of Business Distribution Head of US Offshore [email protected] [email protected] Mike Acker SCHRODERS Head of Key Accounts 875 Third Avenue [email protected] 22nd Floor New York, NY 10022 PIMCO Tel: +(1) 646 747 4849 600 Brickell Av, 21st Floor Gonzalo Binello Miami, FL 33131 Head of Latin America Tel: +1-305-479-2211 [email protected]

Marcello Pasquatti Head of Latam Global Weatlh Management Marcello.Pasquatti@.com

23 COMPANY INFORMATION

Head office

• M&G Investments • Year of foundation: 1931 • Headquarters address: 10 Fenchurch Avenue, London EC3M 5AG, London, United Kingdom • Americas office address: Quest Workspaces, 1395 Brickell Avenue, Suite 900, Miami, FL 33131

Telephone +1 786 589 3815

Email [email protected]

Web http://www.mandg.com/americas/

Assets Under Management Number of offices and distributes worldwide (as at 30 June 2019) M&G operates in its funds in

335.6 US$ bn 16 countries 23 territories

M&G is one of Europe’s better service to US Offshore the freedom and resources largest active asset and LatAm Onshore clients. they need to develop their managers, known for its individual investment conviction-led and long-term At M&G, we take the time strategies and act on their approach to investing. M&G to understand our clients’ convictions. Furthermore, has been at the forefront of specific needs and we pride fund managers are able to investment thinking over the ourselves on our ability to draw upon the skills and years, constantly seeking to respond to those needs research of an extensive develop our product range to through a combination of in-house team of credit and provide the best investment global capabilities and local equity analysts, as well as opportunities for our market perspectives. the significant support of investors worldwide. Since their dedicated investment 2006, when M&G funds were With 2,200 professionals specialists. Backed by a team registered in Chile, M&G has worldwide, 366 of which are of support staff the fund been present in Latin America investment professionals, managers can concentrate for over 10 years. Since then we place a high value on what they do best, the activity and coverage has on developing individual making superior investment increased throughout the expertise and cultivating a choices for your clients. This region. In 2018, M&G opened culture of longevity. M&G’s independent thinking sets an office in Miami to provide fund managers are given M&G apart.

24 ASSET MANAGER’S GUIDE

Ignacio Ander López Luis Solórzano Eric Platt Rodríguez Añino Sales Business Sales Support Chief Distribution Director Development Latin America Officer Americas Latin America Manager Latin America [email protected] / [email protected] / [email protected] / [email protected]

TWITTER

Official account from the Fixed Income team blog @bondvigilantes Official account from the Multi asset team blog @allocation_en Official account from the Equities team blog @equitiesforum

The value of a fund’s assets will go down as well as up. This will cause the value of your investment to fall as well as rise and you may get back less than you originally invested.

For Investment Professionals only. Not for onward distribution. No other persons should rely on any infor- mation contained within. AUM figures: M&G Investments as at 30 June 2020. Staff figures: M&G, as at 31 Decem- ber 2019. The views expressed represent the opinions of M&G Investments which are subject to change and are not intended as investment advice or a forecast or guarantee of future results. Stated information is provided for informational purposes only. It is derived from proprietary and non-proprietary sources which have not been inde- pendently verified for accuracy or completeness. While M&G Investments believes the information to be accurate and reliable, we do not claim or have responsibility for its completeness, accuracy, or reliability. Statements of future expectations, estimates, projections, and other forward-looking statements are based on available information and management’s view as of the time of these statements. Accordingly, such statements are inherently speculative as they are based on assumptions which may involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such statements. This financial promotion is issued by M&G International Investments S.A. The registered office is 16, boulevard Royal, L-2449, Luxembourg.

25 COMPANY INFORMATION

Corporate Office – Americas

Morgan Stanley Investment Management (MSIM) 522 5th Avenue, New York, NY 10036

Telephone +1 305 533-5410

Email [email protected]

Web morganstanley.com/im

EXPERTISE ACROSS PUBLIC investment styles and asset medium-to long-term; create AND PRIVATE MARKETS classes, including equity, a competitive advantage fixed income, alternatives through diversification1, high For more than 40 years and private markets. More quality and, above all, high Morgan Stanley Investment than 20 investment teams convictions. Today, more Management (MSIM) has are organized by capability: than ever it is essential to provided client-centric Solutions & Multi-Asset, Real focus on strategies able to investment and risk- Assets, Active Fundamental generate alpha across all management solutions to Equity, Private Credit & Equity, asset classes and market a wide range of investors Global Fixed Income and cycles. We believe active and institutions. Our clients Global Liquidity. management significantly include corporations, pension improves our ability to meet plans, intermediaries, BORN TO BE ACTIVE: ACTIVE our risk objectives by seeking sovereign wealth funds, MANAGEMENT IS IN OUR to reduce volatility in the central banks, endowments DNA downturns. and foundations, governments and consultant We are entering a new partners worldwide. era for investments and Investment strategies span believe that only truly the risk/ return spectrum active managers will be able across geographies, to generate alpha in the

1. Diversification does not eliminate the risk of loss. 2. As of September 30, 2020. AUM figures within each business line may not sum to total AUM due to rounding. Fund of Fund assets represent assets under management and assets under supervision. Direct private investing assets represents the basis on which the firm earns management fees, not the market value of the assets owned. This general communication, which is not impartial, is for informational and educational purposes only, not a recommendation. Information does not address financial objectives, situation or specific needs of individual investors.

Morgan Stanley Investment Management (MSIM) is the asset management division of Morgan Stanley. A separately managed account may not be suitable for all investors. Please consider the investment objectives, risks and fees of the Strategy carefully before investing. A minimum asset level is required. For important information about the investment manager, please refer to Form ADV Part 2.

© 2020 Morgan Stanley. All rights reserved.

26 ASSET MANAGER’S GUIDE

$271B GLOBAL LIQUIDITY $85B SOLUTIONS & MULTI-ASSET

• Money Markets • Portfolio Solutions • Ultra-Short Income • Global Multi-Asset • Solutions • Managed Futures $92B GLOBAL FIXED INCOME • Applied Equity Advisors • Managed Solutions Group • U.S. Fixed Income Total AUM 2 • Alternative Lending • Global Fixed Income • Emerging Markets Deb t $48B REAL ASSETS • European Fixed Income $715B • Listed Real Assets • Private Real Estate $17B PRIVATE CREDIT & EQUITY • Private Real Assets Credit • Private Infrastructure • Credit Partners • Capital Partners $202B ACTIVE FUNDAMENTAL EQUITY • Energy Partners • Tactical • International Equity • Private Equity Asia • Counterpoint Global • Expansion Capital • Global Emerging Markets • AIP Private Markets • European Equity

MSIM LATIN AMERICA AND U.S. OFFSHORE DISTRIBUTION TEAM

Carlos Andrade Managing Director, Head of Latin America and U.S. Offshore Sales +1 305 533-5320 [email protected]

Lindsay Rosbrook Executive Director +1 305 533-5410 [email protected]

Victor Arakaki Vice President +55 11 3048-6634 [email protected]

Serafino Bueti Vice President +1 212 296 0665 [email protected]

27 COMPANY INFORMATION

Head office

Muzinich & Co. 450 Park Avenue New York, NY 10022, USA Managing Director Iberia & Latam Telephone + 34 91 084 8895 Rafael Ximénez de Embún Email [email protected]

Web www.muzinich.com

Muzinich & Co. is a privately- yield, emerging markets, As our founder, George owned investment firm absolute return strategies, Muzinich, puts it: “We never specializing in public and to syndicated loans and forget that buying a bond private corporate credit. direct financing of companies. is lending money to a Our philosophy is focused Most importantly, in these company. We want to be as on capital preservation, and three decades we have not sure as possible that the we aim to deliver consistent changed our management company is able to meet its risk-adjusted returns and style and we remain true to commitments”. to minimize downfalls in our investment principles. volatile market environments. The basic notions of risk WHY MUZINICH? We offer solutions aimed control, i.e. analysis and to institutional investors diversification, remain the Investment Conviction through 13 offices across the pillars of our business. We have a long and US, Europe and Asia, and we serve our US nonresident Muzinich UCITS Funds* clients through the team based in Spain and led by Rafael Ximénez de Embún, Muzinich Enhancedyield Short-Term Managing Director for Iberia Muzinich EmergingMarketsShortDuration and LatAm. Muzinich ShortDurationHighYield

30 YEARS MANAGING Muzinich Europeyield CORPORATE CREDIT Muzinich Americayield Muzinich Global High Yield Muzinich & Co. was founded in New York in 1988, and in Muzinich Global Tactical Credit 2020 it has been 30 years Muzinich LongShortCreditYield since we first allocated to the Muzinich European Credit Alpha then nascent US high yield market. Since then, we have Muzinich Sustainable Credit expanded to cover almost every asset class across the Muzinich Emerging Markets Debt corporate credit spectrum – Muzinich Asia Credit Opportunities from investment grade, high

*For a full list of available UCITS Funds and materials, please visit www.muzinich.com 28 ASSET MANAGER’S GUIDE

OUR GLOBAL INVESTMENT PLATFORM

Our investment platform spans the full credit spectrum. Our global presence and deep resources allow us to offer a broad range of corporate credit investment strategies across developed and emerging public and private markets. Global AUM as of September 30th, 2020: $US37.6bn

PUBLIC MARKETS

HIGH YIELD INVESTMENT ABSOLUTE MULTI-ASSET EMERGING SYNDICATED ($10.9BN) GRADE RETURN CREDIT MARKETS LOANS ($15.3BN) ($0.9BN) ($4.3BN) ($1.9BN) ($1.9BN)

• US • Crossover • Long/Short • Global • Short • US • Global Short • European Tactical Duration • Europe • Europe Duration Alpha Credit • Market • Short • Crossover Credit • European Duration Duration Market Multi- • Asia Duration Strategy- Credit • Global Solutions Opportu- Short nities Duration • Asia High Yield Credit PRIVATE MARKETS

PRIVATE AVIATION DEBT FINANCE** ($2.4BN)* Source: Muzinich & Co. figures and exchange rates as of September 30th, • Private • Equity 2020. For illustrative purposes only. There can be no guarantee that the above objectives will be achieved. *For private debt accounts still in their in- Debt • Debt vestment period, this reflects total gross committed capital from investors. • Liquid Alts • Advisory **Muzinich & Co.’s Aviation Finance business started on February 1st, 2020 Services and has not yet launched.

consistent trajectory credit research is at the portfolios that best meet managing corporate credit. centre of our investment their objectives. Our investment decisions process. are evidence of our Responsible Investment conviction in a company’s Dynamism We believe responsible creditworthiness. We have the ability to be investment is good nimble, innovative and quick investment. Fair and Measured Risk Taking to react in a changing market transparent governance is We have a profound environment. We manage essential for a company’s awareness of asymmetric dynamic portfolios based long-term success, and for risk and understand the on both fundamental and over two decades we have importance of stress relative value considerations. incorporated ESG factors into testing and diversification our investment strategies. in preserving and growing Focus on clients We believe there are different capital. Our culture is focused on styles of ESG but, ultimately, the relationship with our we see it as part of our Research Analysis clients and we work closely investment process and not Fundamental bottom-up with them to create bespoke simply as a new product.

29 COMPANY INFORMATION Corporate Office

888 Boylston Street, Boston, MA 02199 USA Sophie Rodrigo Núñez US Offshore sales offices: Miami, del Campo Aguilar Houston, New York

Executive Managing Head of US Offshore Telephone +1 888-449-4947 Director Iberia, Latin Distribution & Latin Email [email protected] America and US America Key Offshore Accounts Web im.natixis.com/us-offshore

POWERED BY ACTIVE THINKING® FACTS & FIGURES

Assets Under Management1 Largest asset management firm worldwide2 $1,067.3B 17th

Investment strategies Independent, affiliated asset managers 200+ 20+

DIVERSE EXPERTISE TO returns, reduce risk, and perspectives of our affiliated TARGET CLIENTS’ DISTINCT generate alpha. Tap into asset managers for a 360° GOALS active managers across view of markets, asset growth, value or thematic allocation trends and investor Natixis Investment Managers equities, flexible fixed income, insight to help inform your offers active investment sustainable strategies, decisions. solutions from over 20 alternatives and private independent asset managers. market investments. • Portfolio Analysis Reports: Financial professionals and Insights into Latin American institutional clients benefit FUELING CONVERSATION. & US Offshore advisors’ from a range of investment DRIVING IDEAS AND asset allocation and portfolio processes and cultures RESULTS. construction trends. that make our multi-affiliate model truly different. This The Natixis Investment • Global Survey of Investors: diverse and unconventional Institute combines in-house Our research captures thinking can help to enhance expertise with diverse attitudes, perceptions and

1. as of September 30, 2020. Assets under management (“AUM”), as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers. 2. Cerulli Quantitative Update: Global Markets 2020 ranked Natixis Investment Managers as the 17th largest asset manager in the world based on assets under management as of December 31, 2019.

30 ASSET MANAGER’S GUIDE

MORE INSIGHTFUL WAYS TO CONSTRUCT PORTFOLIOS

behaviors of institutional, process to help achieve asset investment offerings insurance and financial stable risk-adjusted returns and advisory, structuring professionals and individual over time. and fiduciary management investors. services. • Active Ownership: • Macro and Market Views: Incorporate ESG issues into • Customized and off-the- Portfolio-level perspectives our ownership policies and shelf multi-asset investment are offered by our market practices. solutions. strategists. • Negative/Positive • Robust team of consultants, ESG INVESTING FROM Screening: Screen securities analysts, and specialists in MULTIPLE ANGLES using ESG or value-based portfolio construction. criteria. Through the expertise of • Comprehensive Portfolio our affiliated managers, we • Outcome-Oriented Evaluation based on have more than 30 years of Strategies: Use ESG themes institutional-level, risk- experience in responsible and positive impact to guide focused analytics. investing. ESG considerations investment selection. are a powerful lens that we • Specialized ESG Impact use to uncover investment ADVANCED ANALYTICS Analysis to assess opportunities and identify & ASSET ALLOCATION sustainability in portfolios and risks – all to help achieve EXPERTISE underlying assets. positive long-term returns for investors. Natixis Investment Managers’ Solutions team helps financial • ESG Integration: Include professionals respond to ESG factors in the investment evolving needs with multi-

FEATURED STRATEGIES FROM OUR HIGH-CONVICTION ACTIVE MANAGERS:

DNCA Europe Growth Mirova Global Green Bond Harris Associates US Equity Mirova Global Sustainable Equity Loomis Sayles Global Growth Thematics AI & Robotics Loomis Sayles Multisector Thematics Safety Loomis Sayles Short Term Emerging Markets Bond Thematics Subscription Loomis Sayles US Core Plus Thematics Water Loomis Sayles US Growth Equity WCM Global Emerging Markets Equity

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.

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 and distribution entities affiliated with Natixis Distribution, L.P. and Natixis Investment Managers S.A. 3313046.1.1

31 COMPANY INFORMATION Headquarters

24 Quai du Seujet, P.O. Box 2391 1211 Geneva – Switzerland George Gandarias Donald Klotter Telephone +41 22 918 71 71 SVP Investment SVP Global Head of Email [email protected] Solutions Sales Institutional Sales

Tel. +1 305 482 8184 [1] Tel. +41 44 226 1808 [2]

“WE HAVE A DIVERSIFIED RANGE OF SPECIALIST STRATEGIES FOCUSED ON SUSTAINABLE, LONG-TERM ALPHA OPPORTUNITIES” Moz Afzal, Chief Investment Officer

AN INTRODUCTION emerging and specialist MULTI-ASSET & TO NEW CAPITAL markets across multiple ALTERNATIVES AN INTRODUCTION currencies utilising New Capital is the the ‘relative value’ Active investing in pursuit investment arm of EFG proprietary model. of superior risk adjusted Asset Management (EFGAM). returns utilising EFGAM’s TO NEW CAPITAL EFGAM provides solutions EQUITY macro house view. for both the global private banking group EFG MACRO STRATEGY Actively managed high- International and external conviction and growth institutional clients. Our world class global and direct investment strategies macro strategy team liaises and funds with global and FIXED INCOME & with our investment teams to regional exposure. Within the CONVERTIBLES identify the best framework of our Conviction, opportunities. QUoTA and Future Leaders Broad diversification in cash, investment processes. investment grade credit,

ASSETS UNDER MANAGEMENT (USD) as at October 2020

Alternatives $1.5bn Fixed Income $12.7bn Equities $8.6bn Mult i-A sset $478m n Other $1.8bn Alternatives $1.5bn Fixed Income $12.7bn Equities $8.6bn Mult i-A sset $478m n Other $1.8bn

Other includes Money Market Foreign Exchange and Cash

Alternatives $1.5bn Fixed Income $12.7bn Equities $8.6bn For professional clients, accredited and qualified investors only Mult i-A sset $478m n Other $1.8bn

32 ASSET MANAGER’S GUIDE InvestmentInvestment Expertise Expertise Investment Expertise

INVESTMENT EXPERTISE: INVESTMENT EXPERTISEActivelyActively managed managed high-conviction high-conviction MACRO STRATEGY investmentinvestment solutions solutions Research is at the heart of Actively managed high-conviction our investment approach. investment solutions Our macro team’s extensive proprietary macro research influences decisions not only FixedFixed Income Income ConvictionConviction Equity Equity GrowthGrowth Equity Equity Multi-AssetMulti-Asset at anInvestment asset class level, Expertisebut also InvestmentFixed Expertise Income Conviction Equity Growth Equity Multi-Asset allocations at geographic, sector WealthyWealthy Nations Nations Bond Bond GlobalGlobal Equity Equity US USGrowth Growth StrategicStrategic Portfolio Portfolio and even, individual stock level. Wealthy Nations Bond Global Equity US Growth Strategic Portfolio Investment Expertise GlobalGlobal Value Value Credit Credit GlobalGlobal Equity Equity Income Income US USSmall Small Cap Cap Growth Growth We believe there is Globalmuch Value greater Credit GlobalActively Equity Incomemanaged high-convictionUS Small Cap Growth value in assessing the relative EuroActivelyEuro Value Value Credit managed Credit high-convictionEuropeanEuropean Equity Equity JapanJapan Equity Equity strength and directionEuro of Value economic Credit Europeaninvestment Equity solutions Japan Equity investment solutions UK UKEquity Equity SwissSwiss Select Select variables than there is in providing UK Equity Swiss Select Actively managedspecific statistical high-conviction point forecasts. ConvertiblesConvertibles ChinaChina Equity Equity China Equity investment solutions Convertibles Furthermore, we acknowledge AsiaAsia Future Future Leaders Leaders Fixed Income ConvictionGlobalGlobal Convertible Convertible Equity Bond Bond AsiaGrowth Future Equity Leaders Multi-Asset that the financialFixed Globalservices Income Convertible industry Bond Conviction Equity Growth Equity Multi-Asset already provides an enormous Europe Future Leaders EuropeEurope Future Future Leaders Leaders volume of materialWealthy Nations analysing Bond the Global Equity US Growth Strategic Portfolio global economy.Wealthy ForNations this Bond reason, we Global Equity USUS Future Growth Leaders StrategicUS USFuture PortfolioFuture Leaders Leaders Fixed Income Conviction Equity Growth Equity Multi-Asset try to focus Globalon those Value areas Credit that we Global Equity Income US Small Cap Growth Global Value Credit Global Equity Income US Small Cap Growth believe are less well researched and Euro Value Credit European Equity Japan Equity Wealthy Nations Bond Global Equity where there Eurois greater ValueUS Credit Growthpotential for EuropeanStrategic Equity Portfolio Japan Equity us to add value. UK Equity Swiss Select Global Value Credit Global Equity Income US Small Cap Growth UK Equity Swiss Select China Equity Euro Value Credit European Equity We continuouslyConvertibles monitorJapan Equity the world’s ForConvertibles professional clients, accredited and qualified investors only China Equity major economies, their policy For professionalFor professional clients, clients, accredited accredited and qualifiedand qualified investors investors only only UK Equity pronouncements andSwiss data Select to see if Asia Future Leaders Global Convertible Bond events are unfolding as expected or Asia Future Leaders China Equity Global Convertible Bond Convertibles if our views are being challenged and Europe Future Leaders Europe Future Leaders update our analysis accordingly. US Future Leaders Asia Future Leaders Global Convertible Bond US Future Leaders Most analysts have access to similar Europe Future Leaders information. However, significant value can be addedUS Futureby digging Leaders more deeply into that information set. Doing so helps to confirm the authenticity of our information as well Foras professional offering clients, the accredited opportunity and qualified investors to only reachFor professionalnew conclusions. clients, accredited and qualified investors only

The conclusions we reach inform For professional clients, accredited and qualified investors only our asset allocation process, which in turn influences both the research mandates of our analysts and how Assets under management (USD) as at October 2020. our portfolio managers allocate. For professional clients, accredited and qualified investors only

33 COMPANY INFORMATION

US offshore headquarters

Park Avenue Tower 65 East 55th Street, New York NY 10022

Web https://ninetyone.com/en/united-states

ABOUT NINETY ONE strategies spanning equities, fixed income, multi-asset Ninety One is dedicated to We are an independent, and alternatives to help active global asset manager institutional investors, developing talented and dedicated to delivering those advising others and passionate teams to compelling outcomes for our individuals navigate an clients. Since we started in ever-changing world. Our consistently deliver ’91 in an emerging market, we corporate structure ensures investment outcomes and learned the importance of employees are stakeholders broader partnerships, which recognising and embracing in the firm and with our change and uncertainty. founding leadership still in our clients deserve It’s taught us that active place, we are well positioned investing can be a force for to offer stability and a long- good. It’s also given us a term outlook for our clients. different perspective on the We focus on where we can issues that matter – from make a real difference for our how we invest sustainably, clients. We work with clients Investing for a to the major thematic and based all over the world who world of change structural challenges facing have entrusted us to manage investors. Today we offer US$ 128 billion (as at 31.03.20) distinctive investment in assets on their behalf.

34 1 ASSET MANAGER’S GUIDE

Our different Specialist Unique owner culture perspective active investments focused on our clients

– Our beginnings in South Africa in ‘91 – We believe active investing can help – Stability and continuity through senior taught us to be bold, agile and create a better future leaders with 15 years of service resilient – Our investment capabilities were – Key employees own 21% of the – Now with $128.2bn under developed organically, resulting in company management, $73.3bn invested in experienced and stable teams – Employees invest alongside clients emerging markets – These diverse teams collaborate with – 23 client focused offices, with staff – And a global reach with investment the aim of generating value for our empowered to challenge the status hubs in Cape Town, London, New clients quo to benefit our clients York, Hong Kong and Singapore

Source: Ninety One, 31 March 2020. Numbers are updated quarterly.

SALES TEAM

Americas Argentina, Uruguay & Colombia & Central America Richard Garland, Venezuela Adriana Buchelly, Managing Director Renzo Nuzzachi, Head of Intermediary Sales [email protected] Head of Sales Argentina [email protected] 2 Office: +1 917 206 5115 & Uruguay Office: +571 748 6094 Cell: +1 203 385 2692 [email protected] Cell: +5731 7509 8512 Thomas Evans, Office: +598 2626 2660 Sandra Vásquez, Head of National Accounts Natalia Rijo, Junior Analyst [email protected] Head of Business Operations [email protected] Office: +1 917 206 5124 [email protected] Office: +571 748 6090, Ext.1221 Cell: +1 720 381 4853 Office: +598 2626 2661 Cell: +598 9740 5656 Chile Florida and Caribbean José Pedro Aramendía, Edmundo Varela, Mayra Cruz, Sales Representative Head of Intermediaries Chile Sales Director [email protected] edmundo.varela [email protected] Office: +598 2626 2650 @cgcompass.com Cell: +1 786 683 8242 Cell: +598 9488 8995 Office: +562 2364 4808 Joaquin Prandi, Alberto Burs, Cell: +569 9746 8553 Sales Manager Sales Representative Patricio Grez H., [email protected] [email protected] Senior Sales Representative Office: +1 917 206 5156 Office: +5411 4878 8042 [email protected] Cell: +1 646 289 2925 Cell: +549 116 169 7380 Office: +562 2364 4803 María Agustina Núñez, Northeastern US and Canada Sales Representative Mexico Michelle Trilli, [email protected] Ivan Ramil, Sales Director Office: +5411 4878 8020 Director of Institutional Clients [email protected] Cell: +5491 1314 6533 [email protected] Office: +1 917 206 5119 Office: +5255 5010 2177 Cell: +1 917 742 8040 Brazil Mariana González, Alex Garry, Sales Manager George Kerr, Sales Representative [email protected] Brazil Country Head mariana.gonzalez Office: +1 917 206 5138 [email protected] @cgcompass.com Cell: +1 917 843 4315 Cell: +551 198 116 4666 Office: +5255 5010 2162 Juliana Bessa, Southwestern US Sales Representative Peru and West Coast [email protected] Carlos Muller, Fernando Penaloza, Office: +5511 3074 0423 Intermediary Sales Manager Sales Director Cell: +551 199 512 5361 [email protected] fernando.penaloza Paula Matsuda, Office: +511 611 5377 @ninetyone.com Sales Representative Jose Cruzado, Office: +1 917 206 5158 [email protected] Sales Representative Cell: +1 646 525 5791 Office: +55 11 3074 0425 [email protected] Cell: +55 11 96311 6282 Office: +511 611 5846

35 COMPANY PROFILE

America Offshore Sales

Pictet Asset Management (USA) Corp. 712 5th Avenue. 25th Floor New York, NY 10019

Telephone +1 (646) 745-0300

Web assetmanagement.pictet/en/us/intermediary

Jorge Corro Head of US Offshore [email protected]

Mike Acker Head of Key Accounts [email protected]

Total Assets Number of employees Parent company history 225 USD billion 1,000+ 1805

Investment professionals On-the-ground presence

of which over 180+ 380+ investment managers 18 (including New York)

ABOUT US AuM breakdown

Pictet Asset Management is • ACTIVE EQUITIES USD119BN 53% a specialist asset manager • FIXED INCOME USD63BN 28% offering investment solutions • MULTI ASSET USD27BN 12% and services to investors • ALTERNATIVES USD16BN 7% around the world. Today we • TOTAL AUM 225BN 100% manage USD 225 billion of assets across our range of pioneering and differentiating investment capabilities. including 7 investment Our mission is to build centres (Geneva, Zurich, responsible partnerships with We don’t do everything, London, Milan, Singapore, our clients by exceeding their rather we focus on the areas and Hong Kong). Our expectations for investment where we can add value for clients include some of the performance and service. Our our clients. We have over world’s largest pension funds, aim is to be the investment 1,000 employees spread sovereign wealth funds and partner of choice to our across 18 offices worldwide financial institutions. clients. This means giving

36 ASSET MANAGER’S GUIDE

them our undivided attention, Key products offering pioneering strategies and being committed to excellence. EQUITIES (THEMATICS) Pictet-Global Environmental Opportunities We are part of the Pictet Pictet-Global Megatrend Selection Group, founded in Geneva in Pictet-Digital 1805, which also specialises in Wealth Management, FIXED INCOME Alternative Advisors and Asset Services. Privately Pictet-Global Emerging Debt owned and managed by Pictet-Short Term Emerging Corporate Bonds seven partners, the Pictet Pictet-Chinese Local Currency Debt Group has more than 4,700 Pictet-Short Term Money Market employees in 30 offices around the world. LIQUID ALTS OUR COMMITMENT TO PPMF–CH-Physical Gold RESPONSIBLE INVESTING Pictet TR–Atlas (Global equities long/short) Pictet TR–Mandarin (Greater China equities long/short) We are convinced that Environmental, Social and Governance (ESG) considerations can help Over 80%* of our assets • Thematics - Driven by us make better long-term under management are ESG Megatrends: investment decisions for integrated, including our Innovating since 1995, our our clients. For decades, Environmental and/or Social thematic equity strategies sustainability has been impact strategies & Best-in- look beyond benchmarks to central to our way of class strategies. offer investors the opportunity thinking. In doing so, we to capitalise on the most have instinctively considered STRATEGIC CAPABILITIES powerful trends shaping our the interests of future world. 15 themed strategies (12 generations. Our investment resources are single themed and 3 multiple- focused around our strategic themed strategies) We believe in responsible capabilities: • Emerging Markets - Deep economies and takes • Absolute Return - and broad knowledge: an enlarged view of the Ambitious returns, risk As early entrants into economy and its interactions controlled: emerging markets, since 1989, with civil society and the First strategy launched in we combine deep market natural environment. We are 2004, leveraging on our knowledge with a disciplined committed to integrating core strengths of active approach to risk to create material ESG criteria in our and prudent portfolio a diverse range of bond, investment processes and management. Our absolute equity and absolute return ownership practices with a return strategies optimise strategies helping investors view to enhance returns and/ investor returns whilst capitalise on the dynamism of or mitigate risks. meeting their risk tolerance. the emerging world.

*Long only strategies, excludes multi-asset and long/short strategies. All data as of 30th September 2020 Information, opinions and estimates contained in this document reflect a judgment at the original date of publication and are subject to risks and uncertainties that could cause actual results to differ materially from those presented herein.

For Professional Use Only. Not for use with Retail Investors. These funds have not been registered under the United States Investment Company Act of 1940, as amended, nor the United States Securities Act of 1933, as amended. None of the shares may be offered or sold, directly or indirectly in the United States or to any US Person, unless the securities are registered under the Act, or an exemption from the registration requirements of the Act is available. A US Person is defined as (a) any individual who is a citizen or resident of the United States for federal income tax purposes; (b) a corporation, partnership or other entity created or organized under the laws of or existing in the United States; (c) an estate or trust the income of which is subject to United States federal income tax regardless of whether such income is effectively connected with a United States trade or business. Past performance is no guarantee of future results.

37 3 For Professional Investors and Advisers Only

Company Information COMPANY INFORMATION RWC Miami James Tollemache 2640 South Bayshore Drive Miami Office Head of Sales Suite 201 [email protected] MiamiRWC Miami Florida.264033133 South Bayshore Drive Head of Business Business Development Suite 201 - Miami - Florida. 33133 Distribution T +44 20 7227 6000 Sofia Granai E [email protected] +1 305 602 9501 JamesBusiness Development Tollemache Sofia Granai W www.rwcpartners.com Email [email protected] [email protected]@rwcpartners.com Web www.rwcpartners.com [email protected] At RWC Partners we invest on behalf of our clients with the aim of helping them meet their long-term financial objectives.Assets Under Management* Employees Investment professionals Since17.7 our formation US$ bn in 2000 we have remained161 At the heart of RWC Partners62 are teams of committed to delivering investment experienced investment professionals with management services with the highest levels expertise in specific fields. Our teams are led of skill, integrity and transparency. by people who are distinguished in their AT RWC PARTNERS WE INVEST ON BEHALFchosen area OF and OUR demonstrate CLIENTS a WITH total THE AIM OF WeHELPING feel a strong THEM sense MEET of responsibility THEIR LONG-TERM to commitment FINANCIAL to the responsibilitiesOBJECTIVES. they have provide the highest standards of investment to their clients. management; good value for money; clear informationSince our formation that helps in our 2000 clients understandclear information They are that supported helps by highlywho professional are distinguished in their whatwe have we are remained doing; and committed a stable organisation our clients individuals understand and what teams whochosen recognise area that and demonstrate thatto delivering is both long investment-term and trustworthy.we are doing;investment and a stablereturns drive RWC’sa total long commitment-term to the management services with organisationsustainability. that is both long- responsibilities they have to the highest levels of skill, term and trustworthy. their clients. integrity and transparency. We specialise in providing At the heart of RWC Partners They are supported by highly Highlighted Strategies strategiesWe feel a strong that are sense not only of are teams of experienced professional individuals and interestingresponsibility but to appropriate provide investmentGlobal professionals Convertibles with teams who recognise that forthe evolvinghighest standardstimes. We of expertise in specific fields. investment returns drive offerinvestment a distinct management; range of Our teamsEnhanced are led Dividend by people RWC’s long-term sustainability. portfolios which allow our Global Emerging Markets Equity clients to invest in developed and emerging European Equity Highlighted Strategies market equities, convertible bonds and US Long/Short Equity STRATEGY . incomeWe solutions specialise in providing strategies that Global Convertibles www.rwcpartners.comare not| E [email protected] only interesting| Authorised butand appropriate regulated by the Financial for Conduct Authority evolving times. We offer a distinct range of Equity Income portfolios which allow our clients to invest in Global Emerging Markets Equity developed and emerging market equities, European Equity convertible bonds and diversified returns. Diversified Return

* AUM as at 30 October 2020

38 ASSET MANAGER’S GUIDE

RWC - Our Purpose Diversified Equity Income RWC Partners is a stable, forward- Return Equity Diversified Income thinking organisation that Return embraces responsible autonomy, freedom, integrity and alignment of interests. We believe that in order Emerging & Global Horizon to deliver the results our clients Frontier Markets Emerging Global Horizon Equity expect we must continuously & Frontier Equity invest in our people, our approach Markets to investing and our infrastructure.

Diverse and evolving investment capabilities European & Convertible UK Equity Our organisation benefits from ConvertibleBonds being both flexible and progressive.Bonds European & We are proactive in our approach UK Equity to technological development Japan Active and innovation, enabling our fund European Engagement managers to consistently provide Active solutions that meet the challenges Japan Active OwnershipEuropean Engagement Active of an ever evolving market place. Ownership

CONTACT US

Please contact us if you have any questions or would like to discuss any of our strategies. E [email protected] W www.rwcpartners.com

RWC London RWC Miami RWC Singapore Head Office 2640 South Bayshore 80 Raffles Place Verde 4th Floor, Drive #22-23 Suite 201 UOB Plaza 2 10 Bressenden Place Miami Singapore 048624 London, SW1E 5DH Florida. 33133 T +65 6812 9540 T +44 20 7227 6000 T +1 305 602 9501

This document is directed only at professional, institutional, wholesale or qualified investors. The services provided by RWC are avai- 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 or use would be contrary to local law or regulation.

This document has been prepared for general information purposes only and has not been delivered for registration in any jurisdic- 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 or solicitation to buy or sell shares in any fund, security, commodity, financial instrument or derivative linked to, or otherwise included in a portfolio managed or advised by RWC; or (iv) an offer to enter into any other transaction whatsoever (each a “Transaction”). No representations and/or warranties are made that the information contained herein is either up to date and/or accurate and is not intended to be used or relied upon by any counterparty, investor or any other third party.

RWC uses information from third party vendors, such as statistical and other data, that it believes to be reliable. However, the accura- 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 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 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

39 COMPANY INFORMATION

Founded: 1804

Locations across Latin America: Argentina, Brazil, Chile, Mexico, US (Miami & New York)

Schroders CEO Peter Harrison

Head of Schroders Latin America Gonzalo Binello

Web www.schroders.com/americas

Nicolas Giedzinski Maria Elena Isaza, CIMA Head of US Offshore Head of Brokerage US Offshore nicolas.giedzinski@ mariaelena.isaza@ schroders.com schroders.com Mobile: (212) 632-2955 Mobile: (305) 775-3137

Assets Under Management3 Employees globally4 Operating in

649.6 US$ bn 5,500+ 37 locations

across Europe, the Americas, Asia Pacific, Middle East and Africa Our environmental social and governance principles are a key tenet of our philosophy years of experience and innovation 1,750+ Company engagements on ESG globally in 2019 216

YOUR INVESTMENT PARTNER IN NUMBERS

Investment management is our primary busi- We oversee $649.6bn on behalf of institutional ness and our goals are aligned with those of and retail investors, financial institutions and our clients – the creation of long-term value high-net-worth clients from around the world, to assist them in meeting their future financial invested across equities, fixed income, requirements. multi-asset, private assets and alternatives.

Source: Schroders, as of June 30, 2020. 1. Fitch Ratings, as of August 6, 2019. 2. Pensions & Investments, as of December 12, 2019. 3. Assets under management comprise assets managed RatedRated ‘Excellent’ ‘Excellent’ by Best place or advised on behalf of clients. Fitchby Fitch Ratings Ratings1 1 to work2 4. Employee data includes permanent and temporary staff.

All investments involve risk, including the loss of principal. The funds listed are only available to non-US domiciled investors. Schroder Investment Management North America Inc. (“SIMNA”) is an SEC registered investment adviser providing asset management products and services to clients in the US and Canada. SIMNA is an indirect wholly owned subsidiary of Schroders plc, a UK public company with shares listed on the London Stock Exchange, and is an SEC registered investment adviser providing asset management products and services to clients in the US and Canada. Schroder Fund Advisors LLC (“SFA”) is a wholly-owned subsidiary of SIMNA Inc. and is registered as a limited purpose broker-dealer with FINRA and markets certain investment vehicles for which SIMNA Inc. is an investment adviser. The Schroder mutual funds (the “Funds”) are distributed by SEI Investments Distribution Co (“SIDCO”), a member of FINRA. SFA previously served as the distributor of the Funds. Although SFA has been replaced by SIDCO as the distributor of the Funds, SFA continues to be involved in the distribution of shares of the Funds through an agreement with SIDCO, and SFA, SIMNA and their affiliates continue to provide shareholder services to the Funds. SIDCO is not an affiliate of Schroders plc. Schroder Adveq Management US Inc. (“Schroder 40 ASSET MANAGER’S GUIDE

Investment capabilities

EQUITY GLOBAL FIXED INCOME TRANSFORMATION RANGE Schroder ISF Global Credit Income Schroder ISF Global Energy Transition Schroder ISF Global Convertible Bond Schroder ISF Global Climate Change Equity Schroder ISF Global Corporate Bond Schroder ISF Global Disruption Schroder ISF Global High Yield Schroder ISF Global Sustainable Growth Schroder ISF Global Multi Credit Schroder ISF Securitised Credit EQUITIES Schroder ISF US Dollar Bond

Schroder ISF Asian Opportunities ALTERNATIVES & PRIVATE ASSETS Schroder China A Fund Schroder ISF Emerging Asia Schroder AS Commodity Fund Schroder ISF Global Emerging Market Schroder GAIA Contour Tech Equity Opportunities Schroder GAIA Wellington Pagosa Schroder ISF US Small & Mid-Cap Equity Schroder GAIA II Specialist Private Equity Semi Liquid Schroder Adveq Private Equity funds range

Not all funds and share classes are available to all investors

Total AUM by product and region. Total AUM $649.6bn

By product 9%9% Equities 12%12% 31%31% Multi-asset Fixed Income Income 19%19% Wealth Management Management 29% Private Assets & Alternatives 29% Private Assets & Alternatives

Source: Schroders, as of June 30, 2020

Contact us

Miguel Bustamente Alberto Vasquez Andres Uriarte Offshore Sales Director, West, Offshore Sales Director, Northeast Offshore Sales Director, Midwest, Home Office & Research & Canada Southeast & Caribbean [email protected] [email protected] [email protected] Mobile: (646) 432-3347 Mobile: (212) 641-3951 Mobile: (305) 748-5370

Adveq US” or “Schroder Adveq” herein) is registered as an investment adviser with the SEC. It provides asset management products and services to clients in the United States and Canada. Schroder Fund Advisors LLC (“SFA”) markets certain investment vehicles for which Schroder Adveq US is an investment adviser. SFA is an affiliate of Schroder Adveq US and is registered as a limited purpose broker-dealer with the Financial Industry Regulatory Authority. Schroder Adveq US is an indirect, wholly-owned subsidiary of Schroders plc. For more information, visit www.schroderadveq.com Schroder Secquaero (formerly Secquaero Advisors AG) is a Zurich-based, wholly owned subsidiary of Schroders plc, and provides non-dis- cretionary advice to certain strategies, including Insurance-linked securities, marketed in North America. Further information about Schroders can be found at www.schroders.com. For readers/viewers in the United States: Schroder Investment Management North America Inc., 7 Bryant Park, New York NY 10018-3706. CRD Number 105820. Registered as an investment adviser with the US Securities and Exchange Commission. 41 ASSET MANAGER’S GUIDE

SEI VIRTUS INVESTMENT PARTNERS 1 Freedom Valley Drive One Financial Plaza Oaks, PA 19456 Hartford, CT 06103 Tel: +(1) 610 676 2436 Tel: +(1) 215 208 9926

Iván Pabón Lijo John Latin America and Business Development Managing Director, Director, Asset Management Distribution Distribution [email protected] [email protected]

THE AMCS GROUP VONTOBEL 600 Brickell Avenue 1540 Broadway Suite 1700 18th floor Miami, FL 33131 New York, NY 10036 Tel: +(1) 866 925 3863 Tel: +(1) 212 804 9417 *distributed by Unicorn Strategic Partners Chris Stapleton Managing Partner, the AMCS Group Jose Luis Ezcurra [email protected] Country Head LatAm & US Offshore Francisco Rubio [email protected] Regional Vice President, the AMCS Group David Ayastuy [email protected] Managing Partner Andres Munhó [email protected] Managing Partner, the AMCS Group Michael J. Kearns [email protected] Head of US Offshore Distribution [email protected] THORNBURG INVESTMENT MANAGEMENT WELLINGTON 2300 North Ridgetop Road Wellington Management Company LLP Santa Fe, NM 87506 280 Congress Street Tel: + (1) 305-988-6765 Boston, MA 02210 Tel: + (1)-617-951-5000 Vince León, AAMS *distributed by Compass Group Director, Offshore Advisory Channel [email protected] Daniel B. Isaacs, CFA Managing Director Latin America VANGUARD [email protected] 100 Vanguard Blvd Joana Antão McMullen Malvern, PA 19355 Assistant Vice President Tel: +(1) 610 503 9893 [email protected] David O’Suilleabhain Eduardo Mendes Head of US Intermediaries Head of National Bank Key Accounts Sales Tel: 305-850-1896 [email protected] [email protected]

42 THANKS TO OUR PARTNERS WHO HAVE CONTRIBUTED TO THE SUCCESS OF

COLCHESTER GLOBAL INVESTORS LIMITED

TM COLCHESTER GLOBAL INVESTORS LIMITED

PARTICIPANT TM CAPITAL

654C Process BlackC

If you are interested in receiving a complimentary copy of our print magazine and newsletters, please contact us at [email protected]

www.fundssociety.com COMPANY INFORMATION

Headquarters

2300 North Ridgetop Road Santa Fe, New Mexico 87506 Director, Offshore Offshore Associate Advisory Channel Regional Consultant Web www.thornburgglobal.com Vince León, AAMS Miguel Cortabarría, CFA 305-988-6765 917-283-1338 Independently owned and privately held since inception [email protected] Founded in 1982 [email protected]

Assets Under Management Employees

42 US$ bn in client assets* 250

IT’S MORE THAN WHAT WE DO. IT’S HOW WE DO IT

WHO WE ARE to our clients with innovative for opportunities across At Thornburg, we believe that investment solutions that are geographies, sectors, and siloed investment research highly active, high conviction, asset classes. leads to market inefficiencies. and benchmark agnostic. We exploit these inefficien- FIXED INCOME cies for our clients through a HOW WE DO IT Thornburg was founded on collaborative, benchmark-ag- When it comes to finding the belief that fixed income nostic investment process. We opportunity for clients, it’s managers should do a bet- oversee diversified invest- more than what we do. It’s ter job of preserving wealth ment solutions across fixed how we do it. for investors through active income and global equity management. With a strai- for institutions and financial PEOPLE ghtforward, fundamental advisors around the world. For Our investment team embra- approach, we seek to provide nearly four decades, we have ces a go-anywhere, collabora- clients with attractive returns delivered idiosyncratic alpha tive approach when searching and stability of principal.

Investment Professionals 40+ Average PM Experience (yrs) 19 Average Tenure of PMs (yrs) 12

* Includes $40 billion in assets under management and $1.6 billion in assets under advisement as of October 31, 2020

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We launched our first fixed mental approach to equity income mutual fund in 1984. investing. Our investment FIXED INCOME SOLUTIONS Since then, we have launched culture demands diversity of Short-Term Bonds a series of actively managed thought, rigorous debate and Global Flexible Bonds strategies that can be used collaboration across asset to build a strong foundation classes. This creates the EQUITY SOLUTIONS for a diversified portfolio. long-term conviction neces- Equity Ex-U.S. sary for concentrated, Emerging Markets Equity EQUITY flexible strategies. Global Equity For decades, we have em- Aggressive Allocation/ ployed a bottom-up, funda- Dividend Focus

Investments carry risks, including possible loss of principal. All data as of of 10/31/20

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

45 COMPANY INFORMATION

Corporate Office

1540 Broadway New York, NY 10036

Executive Director Associate Director, Telephone +1 212 804 9417 Country Head Client Service LatAm & US Management Email [email protected] Offshore Molly Katherine Jose Luis Ezcurra McVeigh Web www.vontobel.com/am

US OFFSHORE SALES TEAM* [email protected] MIAMI – David Ayastuy, 801 Brickell Ave, 9th Floor, +1 786 328 6381 NEW YORK – Mike J. Kearns, 136 Madison Ave, 5th Floor, +1 516 350 4460 MONTEVIDEO – Florencia Bunge, Zonamerica, Ruta 8KM 17.5 edF. MI OF. I, + 54 911 3580 4052

ABOUT VONTOBEL ASSET MANAGEMENT

Vontobel Asset Management strategies and solutions co- trends and inefficiencies is an active asset manager vering equities, fixed income for the benefit of our with global reach and a mul- and multi asset class. clients. ti-boutique approach. Each of our boutiques draws on The goal of achieving positive • We pursue investment specialized investment talent, and repeatable performance approaches to protect and a strong performance culture has been fundamental to grow our clients’ assets, and robust risk management. our approach since 1988. A through a robust strate- We help deliver leading-edge strong and stable sharehol- gy construction and the solutions for both institutio- der structure helps facilitate awareness of risks. nal and private clients. our entrepreneurial inde- pendence and can protect • We are convinced that our Our commitment to active the long-term mindset that specialization in clearly management empowers us guides our decision-making. defined investment strate- to invest on the basis of our gies creates added value convictions. We aim to deliver Many of our investment for our clients. value through our diverse professionals are invested and highly specialized teams. in the funds they manage to • We rely on clear responsi- Employing more than 400 help ensure our interests are bilities and small, flexible professionals worldwide – aligned with our investors. teams and see this as the including 160 investment prerequisite for a strong specialists – we operate WHAT SETS US APART? performance culture. across 16 locations including Investing alongside our Switzerland, Europe and the • We believe in active mana- clients makes us partners. U.S. and create investment gement to exploit market

*These individuals are registered with Foreside Financial Group, LLC

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HIGH CONVICTION INVESTMENT BOUTIQUES

BOUTIQUES HIGHLIGHTED STRATEGIES

QUALITY GROWTH BOUTIQUE

Our goal is to deliver to our clients long- • Global Equity term performance driven by stable, high- • Emerging Markets Equity quality underlying earnings growth, paid for at sensible prices. To achieve this, we seek • US Equity to invest in companies with market leading positions and powerful franchises. Our investment team has consistently followed this approach for more than 30 years.

EQUITIES SUSTAINABLE EQUITIES BOUTIQUE

Strategies with emphasis on specific • mtx Sustainable Emerging investment themes including sustainability, Markets Leaders and environmental, social and governance (ESG) factors. • mtx Sustainable Asia Leaders

FIXED INCOME BOUTIQUE

Actively managed fixed-income strategies, • Emerging Markets Corporate global expertise and specific focus on flexi- Bond ble, corporate and emerging market bonds. • Emerging Market Debt Hard Currency • Emerging Markets Blend TWENTYFOUR ASSET MANAGEMENT

FIXED INCOME Highly transparent, actively managed fixed- • Strategic Income income products that can help generate • Absolute Return Credit attractive risk-adjusted returns, with a strong focus on capital preservation.

This document is for information purposes only and nothing contained in this document should constitute a solicitation, or offer, or recommendation, to buy or sell any investment instruments, to effect any transactions, or to conclude any legal act of any kind whatsoever. Except as permitted under applicable copyright laws, none of this information may be reproduced, adapted, uploaded to a third party, linked to, framed, performed in public, distributed or transmitted in any form by any process without the specific written consent of Vontobel Asset Management AG (“Vontobel”). To the maximum extent permitted by law, Vontobel will not be liable in any way for any loss or damage suffered by you through use or access to this information, or Vontobel’s failure to provide this information. Our liability for negligence, breach of contract or contravention of any law as a result of our failure to provide this information or any part of it, or for any problems with this information, which cannot be lawfully excluded, is limited, at our option and to the maximum extent permitted by law, to resupplying this information or any part of it to you, or to paying for the resupply of this information or any part of it to you. Neither this document nor any copy of it may be distributed in any jurisdiction where its distribution may be restricted by law. Persons who receive this document should make themselves aware of and adhere to any such restrictions. In particular, this document is for U.S financial advisors who do business with investors who are not U.S. persons or persons otherwise present in the U.S. It may not be redistributed to U.S. Persons or persons present in the U.S.

47 ASSET MANAGER’S GUIDE 2021