FUN DS FOR G OOD Charles Adam Gesves FUNDS FOR GOOD - PowerPoint PPT Presentation

TECHNICAL DETAILS FFG GLOBAL FLEXIBLE SUSTAINABLE SHARE TICKER MIN. MANAGEMENT MAX ONGOING ISIN CLASS BLOOMBERG INVEST FEE CHARGES R ACC LU1697917083 FFGFSRA LX 1.25% 1,60% R DIS LU1697916861 FFGFSRD LX 1.25% 1.60% C ACC LU1697917240 FFGFSCA LX 0.95% 1.30% C DIS LU1697917323 FFGFSCD LX 0.95% 1.30% I ACC LU1697917166 FFGFSIA LX 500.000€ 0.65% 1.00%

QUEST CLEANTECH FUND THEMATIC EQUITIES FUND

THE FUND : STRUCTURE & CHARACTERISTICS DYNAMIC PROFILE 100% EQUITIES BUY-AND-HOLD SMALL & MID CAPS CONCENTRATED GARP STYLE PORTFOLIO (20-30 STOCKS)

FUND MANAGER Quest Capricorn Capricorn Quest for Capricorn Cleantech Fund ITC Arkiv Growth Cleantech Fund Health-tech Fund QUOTED FUND PRIVATE EQUITY MIXTE o € 350 MIO AUM o MANAGER FOCUSED ON CLEANTECH, HEALTH-TECH & ICT YVES VANEERDEWEGH OLAF CÖRPER o 20+ years experience as portfolio manager o >10 years equity experience o @ Capricorn since 2005 o @ Capricorn since 2012

CLEANTECH UNIVERSE

CLEAN TECHNOLOGIES UNIVERSE energy supply pollution CO ² emissions deforestation loss of biodiversity climate change water scarcity TECHNOLOGY-BASED PRODUCTS AND SERVICES THAT PROVIDE CLEANER OR MORE EFFICIENT USE OF THE EARTH’S NATURAL RESOURCES, SUCH AS ENERGY , WATER, AIR AND MATERIALS.

THEMATIC

3 THEMATICS IN THE FUND  Green building  Clean transport & fuel efficiency ENERGY  Controls & energy optimisation EFFICIENCY  Smart grid & energy storage  Energy efficient lighting  Water Management  Pollution control RESOURCE  Recycling & waste management EFFICIENCY  Agricultural & bio-based solutions  Advanced materials  Wind energy  Solar energy RENEWABLE  Biomass & biofuels ENERGY  Hydropower  Other renewable energy * Chiffres au 31 août 2018

PORTFOLIO STRUCTURE FFG CLEANTECH II WILL INVEST IN THE SAME THEMATICS 90% 100% 90% 100% EQUITIES 0% 0% 100% 100% 25%* 25% ENERGY EFFICIENCY 0% 0% 100% 100% 53% 53%* RESSOURCES EFFICIENCY 0% 0% 100% 100% 13% 13%* RENEWABLE ENERGY 0% 0% 100% 100% 7% 7%* CASH 0% 0% 100% 100% *31/0 *3 /03/1 /19

ALLOCATION

GEOGRAPHY EUROPE AS A CLEANTECH LEADER 79% EUROPEAN COMPANIES! Morningstar Direct au 31/03/19

SECTOR ALLOCATION Capricorn Venture Partners au 31/03/19

PERFORMANCE

PERFORMANCE SINCE LAUNCH Morningstar Direct au 31/03/19

TECHNICAL DETAILS

OVERVIEW – QUEST CLEANTECH FUND SHARE TICKER MIN. MANAGEMENT ONGOING ISIN CLASS BLOOMBERG INVEST FEE CHARGES R ACC LU1171478784 QUECLER:LX NO 1.25% 1,73% I ACC LU1171478941 QUECLEI:LX 250.000€ 0.75% 1,13%

FFG EUROPEAN EQUITIES SUSTAINABLE EUROPEAN EQUITIES FUNDS

THE FUND : STRUCTURE & CHARACTERISTICS DYNAMIC STRATEGY 100% EQUITIES ACTIVE QUANTITATIVE ALL CAPS DIVERSIFIED PORTFOLIO BÊTA = 1 VS MSCI (200 - 400 STOCKS) EUROPE NR

GESTIONNAIRE o Founded in Boston, MA, in 1986 o Offices in Boston, London, Singapore, Sydney and Tokyo o 336 employees worldwide

A TEAM OF EXPERTS John Chisholm, CFA Brendan Bradley, Ph.D. Malcolm Baker, Ph.D. Co-CEO, Co-CIO Co-CIO Director of Research Long-Short lnvestment Global Equity Equity Portfolio Portfolio lmplementation Analytics & Data Research Management Management 24 Team Members 16 Team Members 26 Team Members 5 Team Members 18 Team Members o o o o o 1 PhD 6 PhDs 8 PhDs 3 CFA 1 PhD o o o o 9 CFA 9 CFA 13 CFA charterholders 4 CFA o charterholders charterholders charterholders 5 MA / MS / charterholders o o o o 21 MA / MS / 18 MA / MS / 30 MA / MS / MPhil / MBAs 11 MA / MS / o MPhil / MBAs MPhil / MBAs MPhil / MBAs 14 avg yrs of MPhil / MBAs o o o o 15 avg yrs of 9 avg yrs of 15 avg yrs of experience 16 avg yrs of experience experience experience experience

CONSTRUCTION

INVESTISSEMENT PROCESS SYSTEMATIC, OBJECTIVE & COHERENT INVESTMENT PORTFOLIO STOCK FORECAST TRADING UNVIVERSE CONSTRUCTION BROAD EUROPEAN OBJECTIVE RETURN COST EFFECTIVE UNIVERSE FORECAST TRADING 6.000 stock investment Bottom-up analysis: Return forecasts Structured trading universe Stock forecast relative Risk forecasts process to peer group Transaction costs estimates + Liquidity estimates Top-down analysis: Peer group forecast relative to world equity ESG ISSUES ARE INTEGRATED FACTORS, APPLICATION OF ESG PORTFOLIO INTEGRATED ACTIVE RESAERCH SCREENS, RISK CHARACTERISTIC, REPORT, THROUGHOUT AGENDA MANAGEMENT, PROXY VOTING, WOMAN & PORTFOLIO TILTING MINORITY BROKERAGE, ENGAGEMENT REPORTING

PORTFOLIO CONSTRAINTS ACTIVE RISK 4% - 6% TRACKING ERRORS MAERIAL RISK BETA, VOLATILITY & SIZE CONSTRAINED TO MARKET SECURITY RISK 2,5% ACTIVE WEIGHT (DYNAMIC) +/- 8% ACTIVE WEIGHT SECTOR RISK +/- 6% ACTIVE WEIGHT COUNTRY RISK LIQUIDITY RISK TRADING: MAX 20% DAILY ADV, HOLDING: MAX 3 DAYS’ AVERAGE VOLUME FACTOR CROWDING MITIGATE FACTOR CROWDING TRHOUGH DYNAMIC FACTOR WEIGHTING PORTFOLIO REVIEW, DISCRETIONARY RISK MANAGEMENT HUMAN OVERSIGHT RISK & PORTFOLIO CONTROLS AIM TO MAXIMIZE THE INFORMATION RATIO & REDUCE DRAWDOWNS

PREVISION MODEL PRICE TO INTRINSIC INCOME VALUE VALUE PRICE TO INTRINSIC ASSET VALUE +1,32 PRICE TO INTRINSIC ASSET VALUE MEDIA EFFECT GROWTH EARNINGS SURPRISE +0,64 COMPANY: KLOECKNER & CO SE RECOMMENDATION CHANGE MARKET CAP: USD 1B ASSET QUALITY QUALITY CASH FLOW QUALITY +0,17 COUNTRY: GERMANY MANAGEMENT BEHAVIOR INDUSTRY: CAPITAL GOODS MOMENTUM TECHNICAL DESCRIPTION: STEEL & METAL +0,11 SMART REVERSAL INDUSTRY LEADERSHIP PRODUCER AND DISTRIBUTOR GLOBAL DRIVERS GERMANY +0,04 RISKS MACRO ENVIRONMENT TOTAL FORECAST + 2,21 PRICE MOMENTUM CAPITAL GOODS +0,09 AJUSTED VALUTATION PEER MOMENTUM AJUSTED VALUTATION GERMAN CAPITAL QUALITY 0,00 GOODS TECHNICAL

PROVEN STOCK FORECASTING MODEL ANALYSIS OVER 10 YEARS EXCESS RETURN ACADIAN ALPHA FORECASTS 2 20% ANNUALIZED EXCESS RETURN 10% 0% -10% -20% 2 3 4 5 1 QUINTILE RETURN TO LOWEST RETURN TO HIGHEST FORECASTED STOCKS FORECASTED STOCKS

ACADIAN SRI POLICY

ACADIAN FIRM LEVEL & INTEGRATED FACTORS FIRM LEVEL Acadian was the first quantitative manager to become a Signatory of the PRI in October 2009. The firm has a A+ score Leading Investor on collaborative action on climate related data disclosure Participation on PRI Technical Committee to guide annual survey development. 40% of Acadian’s AUM apply RI screens INTEGRATED FACTORS ON STOCK SELECTION Management behaviour corporate governance accounting practices Labor Standards ENGAGEMENT & PROXY VOTING Partnership with proxy voting agents, Annual Engagement Report

ALLOCATION

GEOGRAPHICAL BREAKDOWN Morningstar Direct au 31/03/19

SECTOR ALLOCATION Morningstar Direct au 31/03/19

MARKET CAPITALISATION Morningstar Direct au 31/03/19

TOP HOLDINGS Morningstar Direct au 31/03/19

PERFORMANCE

ACADIAN’S FUND POSITIONNING Q1 2019 Morningstar Direct au 31/03/19

SIMULATIONS

GROSS PERFORMANCE COMPARAISON

TECHNICAL DETAILS

OVERVIEW – FFG EUROPEAN EQUITIES SUSTAINABLE MAX SHARE MIN. MANAGEMENT ISIN ONGOING CLASS INVEST FEE CHARGES R ACC LU1783237842 1.50% 1.850% R DIS LU1783237925 1.50% 1.850% C ACC LU1783237412 1.10% 1.450% C DIS LU1783237503 1.10% 1.450% I ACC LU1783237768 500.000€ 0.75% 1.100% * Op 31/03/2017

FFG ARCHITECT STRATEGY FLEXIBLE FUND - DEFENSIVE

FUND OBJECTIVES PROTECT CAPITAL BY DYNAMICALY MANAGING THE OFFER REGULAR RETURN EQUITY EXPOSURE ADAPTED TO LOW INTEREST ENVIRONMENT

NEW FFG AS

INFOS TECHNIQUES FFG ARCHITECT STRATEGY – VERSION 2 NEW strategy  Maintain defensive profile  Capture FFG European ES outperformance vs MSCI Europe  No fixed income or uncorrelated investments  Limit equity exposure between 20% and 40%

INFOS TECHNIQUES FFG ARCHITECT STRATEGY – VERSION 2 Acadian European Equity outperformance vs MSCI Europe

INFOS TECHNIQUES FFG ARCHITECT STRATEGY – VERSION 2 Outperformance new fund vs current fund

PORTFOLIO BREAKDOWN FF FFG AS S 2 FFG AS FF S 1 +/- 50% +/ 50% 90% 90% EQUITY EQUITY FUNDS FUND 60% 60% 0% 0% 50% 50% EQUITY EQUITY FUTURES FUTURES +/- 10% +/ 10% 10% 10% FIXED INCOME CASH FUNDS +/ +/- 15% 15% FLEXIBLE FUNDS +/ +/- 20% 20% UNCORRELATED FUNDS +/- 5% +/ 5% CASH

INFOS TECHNIQUES FFG ARCHITECT STRATEGY – VERSION 2 2018 3� Years 5� Years 10� years Performance� New� FFGAS� (R� share) -3,07% 2,89% 4,23% 4,88% Performance� Current� FFGAS� (R� share) -7,20% 0,86% 1,16% Acadian� Total� Alpha 0,50% 5,00% 4,90% 4,10% 90%� European� Equity� Alpha 1% 4,20% 4,20% 3,10% Net of fees simulated returns to MACS� European� Total -0,50% 0,80% 0,70% 1,00% 30/12/2018 30%MSCI� Europe� +� 70%� � cash -1,72% -0,26% 1,18% 2,63% cash -1% -0,80% -0,50% -0,10% MSCI� Europe -4,10% 1,00% 5,10% 9,00%

INFOS TECHNIQUES OVERVIEW – FFG ARCHITECT STRATEGY AS 2 SHARE TICKER MIN. MANAGEMENT ONGOING ISIN CLASS BLOOMBERG INVEST FEE CHARGES R ACC LU0945616984 CONFGAB 1.50% 1,85% R DIS LU0945616788 FFGASRD LX 1.50% 1,85% I ACC LU0945616788 CONFGAC 500.000€ 0.95% 1,30%