1. Client’s name Financial adviser’s name & company name
15 AUGUST 2013
21 November 2016
TITLE OF PRESENTATION
Matthew Hearsum
Investment Director
Client’s name
Financial adviser’s name &
company name

2. Quilter Cheviot Who we are
We are part of Old Mutual Wealth
We manage over £19.6 billion* and growing
We employ 163 investment professionals: 13 offices across the UK, Jersey and Dublin
We serve more than 37,000 clients:
private individuals & families
charities & trusts
private OEICs
pension funds
We work closely with Financial Advisers: c.80% of new business
advisers have the primary relationship with the client
we do not compete with the FA’s financial planning proposition
* as at 30th September 2016

3. OUR INVESTMENT TEAM Tim Maile Vanessa Walduck Ross Baldock
Vanessa has 30 years investment management experience and joined Quilter Cheviot in  She currently manages assets for private clients, trusts and charities, including many SIPP and SASS portfolios. She is also responsible for one of the investment management teams in the company’s London office.
Vanessa works closely with a number of financial advisers and other professionals developing business opportunities and expanding our existing relationships. She also works closely with the firm’s Marketing Team and is on the charity committee of her livery company, the Worshipful Company of Founders.
Vanessa is a Chartered fellow of the Securities Institute.
Tim joined the company in 1982 and is now one of the firm’s senior investment managers and an executive director. He manages a wide range of portfolios for individuals, trusts and charities and is himself a trustee of The Quilter Cheviot Foundation. He is chairman of the investment sub-committee and member of the Finance Committee of the Worshipful Company of Wax Chandlers. He also is a job coach through the Business in the Community ‘Ready to Work’ scheme.
Tim is a Chartered fellow of the Securities Institute.
Tim Maile
Executive Director
Vanessa Walduck
Executive Director
Ross has specialised in private client work throughout his near 30-year career, initially in Scotland with Tilney and Barclays Stockbrokers, where latterly he managed a team of 12 brokers before moving south to help set up the firm's London office Since joining Quilter in late-2008 Ross has developed strong relationships with lawyers, accountants and financial advisers and manages portfolios for private clients (including SIPP and SSAS accounts), charities and trusts.
Ross is a Chartered Fellow of the Securities Institute.
Ginny looks after a wide range of clients including private individuals, charities, trusts and pension funds. She graduated from Cambridge University in 2005 with a degree in land economy and joined Quilter in Ginny holds the Investment Management Certificate and the Securities and Investment Institute Diploma.
Ross Baldock
Investment Manager
Ginny Turner
Investment Manager
Duncan joined the company from Barclays in 1987 and became chief investment officer with overall responsibility for the firm’s investment strategy in He is also a lead investment manager for Quilter Cheviot’s institutional clients
He is an Associate of the Chartered Institute of Banking, a Chartered Fellow of the Chartered Institute for Securities & Investment (Chartered FCSI) and chairman of the FTSE APCIMS private investor indices committee.
Matthew began his career in 1998 at Laing & Cruickshank Investment Management, which was acquired in 2004 by UBS Wealth Management, where he was an associate director. Matthew joined the company in 2006, where he is responsible for managing portfolios on behalf of individuals, trusts, charities and pension funds. He is a key member of the Quilter Cheviot specialist financial adviser team.
Matthew is a Chartered fellow of the Securities Institute.
Duncan Gwyther
Chief Investment Officer
Matthew Hearsum
Investment Director

4. OUR INVESTMENT TEAM Frederick Bennett Edward Lummis Richard Vernon
Freddie joined Quilter Cheviot in 2008 and manages investments for individuals, charities, trusts and pension funds. He is a Chartered Member of the Chartered Institute for Securities & Investment and has completed the Investment Advice Diploma and Investment Management Certificate. At the 2015 Magic Circle awards, Freddie was runner up for the Tomorrow Club award. Freddie graduated with a BA (Hons) degree in French and Business from the University of Manchester.
Edward joined the company in 2009 having started his investment career in equity research at Singer Capital Markets. He holds a BSc in experimental psychology from the University of Bristol. Edward is a Chartered Member of the Institute for Securities & Investment and has completed the Investment Management Certificate and Masters in Wealth Management. He also passed level one of the CFA examination in Edward is responsible for the management of discretionary portfolios for private clients, pensions and trusts. In conjunction with this he works for the Quilter Cheviot charities group and assists in the management of a range of charity portfolios.
Frederick Bennett
Investment Manager
Edward Lummis
Investment Manager
Richard graduated with a degree in Economics and Finance from the University of Bristol and immediately joined Quilter Cheviot in He has since worked with Matthew Hearsum assisting with the management of portfolios on behalf of individuals, trusts, charities and pensions. He is a Chartered Wealth Manager and a Member of the Chartered Securities Institute.
Jessie graduated with a BSc in Economics in 2011 from City University London before joining Quilter Cheviot in January She is responsible for assisting the team in the management of portfolios on behalf of individuals, trusts, charities and pension funds. Jessie completed the Certificate in Investment Management in 2014.
Richard Vernon
Trainee Investment Manager
Jessie Kaur
Trainee Investment Manager
Nicole joined Quilter Cheviot in 2015 as Team Administrator, after working at Lloyd’s of London.
She is currently studying towards her Certificate in Investment Management.
Sarah has worked most of her career in property management, having worked for Aviva, Cushman & Wakefield LLP and Sanderson Weatherall LLP before joining Quilter Cheviot in 2014, where she is responsible for providing administrative and PA support. 
Nicole Curcio
Team Administrator
Sarah McLeod
Investment Administrator

5. Our Focus
Service
Direct access to the Investment Manager accountable for your portfolio
A personalised approach to managing your portfolio to meet your specific requirements
We have regularly won industry awards for client service
We comply with FCA regulations meaning that your assets remain your property
Performance
We aim to out perform and grow your wealth in line with your aspirations
We have a performance driven investment process
We have regularly won industry awards for our investment performance
Integrity
We act with integrity and maintain high moral standards
We maintain the highest levels of professionalism through our focus on training and development of our staff

6. Investment Philosophy and Process
Active, not passive
Style Agnostic – adaptable to the market cycle
Asset Allocation – strategic allied to tactical shifts
Diversification – blending assets with different growth/income and behavioural characteristics
Applicable in the “real world”
Comprehensive risk controls – centralised monitoring of every individual portfolio

7. Our Investment Process – Discretionary Portfolio Service

8. Investment Strategy

9. Investment Risk - Peak to Trough ‘DRAWDOWN’
Source: Datastream, 09/14

10. Peak To Trough Decline In A Low Risk Strategy
Source: Quilter Cheviot, Datastream, AlternativeSoft, 31/01/15. Calendar month from 1994 for Global Growth Strategy and 1990 for all other Strategies. Data is for illustrative purposes only. Past performance is no guarantee of future performance and the value of investments and their income can fall as well as rise. Not for external release.

11. Peak To Trough Decline In A High Risk Strategy
Source: Quilter Cheviot, Datastream, AlternativeSoft, 31/01/15. Calendar month from 1994 for Global Growth Strategy and 1990 for all other Strategies. Data is for illustrative purposes only. Past performance is no guarantee of future performance and the value of investments and their income can fall as well as rise. Not for external release.

13. Alternative investments
Investment Strategy
PORTFOLIO BREAKDOWN
Liquidity In All Asset Classes
Investment Objectives
Capital growth and income
Supplementing income
Risk
Lower - medium tolerance to risk
equity exposure range ≥ 50%
Investment Style
UK - Direct equity
Overseas – collective investments
Investment Process
top down approach
bottom up approach driven by quants, fundamental research and stock selection
Fixed interest
Sovereign debt
Investment grade corporates
Equities
Active management
Global companies
Sector/Theme diversification
Alternative investments
Infrastructure
Private equity
Property
CASH

15. Reporting Regular review meetings Secure online portfolio access
Regular formal investment reports provided at least 6 monthly, including
portfolio valuation and performance report
transactions schedule and capital and income statements
market commentary
Tax year end pack
Ad hoc updates on transactions, market commentary, etc.

16. Risk Control 12 Operational Quilter Cheviot auditors regulator
Investment
regular review of objectives, assets and liabilities
monitor risk relative to benchmark
limiting active money at both a geographic and industry sector level.
limiting minimum number of direct equity holdings (where applicable) per
- geographical region providing a base level of diversification.
quantitative risk controls such as tracking error, beta and liquidity analysis are
used where appropriate.
Risk Modelling
our own process using return forecasts and 3 year correlation forecasts
stress test portfolios for possible events such as inflation/deflation or significantly higher interest rates
peer reviews 12

17. Asset Risk Consultants & Performance Data
Asset Risk Consultants (ARC) is an independent investment consultancy firm which provides impartial performance comparators for the financial services industry.
Performance analysis is net of all charges.
The full list of over 50 investment and asset management firms submitting client performance data to ARC’s Private Client Indexes (PCI) is available on request.
Quilter Cheviot subscribes to the performance monitoring service provided by ARC.
The thirty six month performance data provided in the following slides is representative of the returns experienced by Quilter Cheviot clients. The former Quilter business did not submit performance data to ARC until July The five year performance data therefore is representative of 36 months combined data and 24 month returns experienced by the former Cheviot business.
The ARC 3D is an award provided by Asset Risk Consultants (ARC) which indicates that Quilter Cheviot has committed to ARC’s Investment Manager Research Programme. Quilter Cheviot has provided ARC with all the necessary information and fulfilled ARC’s 3D Criteria to complete the due diligence programme. The Criteria are satisfactory completion and maintenance of ARC’s Due Diligence Questionnaire; provision of real client performance Data allowing ARC to observe the typical client experience; and a Demonstration of the quality of the people behind the investment philosophy and process. ARC’s 3D Award is not a rating or an endorsement of the managers’ suitability for a particular client, mandate, or introducer; instead it is a validation of Quilter Cheviot’s commitment to transparency.

18. ARC Cumulative Returns June 2016
Source: Asset Risk Consultants PCI June
Past performance should not be seen as an indication of future performance

19. Industry Recognition

20. Disclaimer
This presentation has been prepared only for investment professionals only. It is not intended for any other persons and should not be relied upon by other persons.
This presentation has been prepared for information purposes only and is not a solicitation or an offer to buy or sell any security. It does not purport to be a complete description of our investment policy, markets or any securities referred to in the material. The information on which the presentation is based is deemed to be reliable, but we have not independently verified such information and we do not guarantee its accuracy or completeness. All expressions of opinion are subject to change without notice. Any reference to the Quilter Cheviot Limited model portfolio, which is used for internal purposes, is purely illustrative and should not be relied upon. The figures quoted do not include charges.
Investors should remember that the value of investments, and the income from them, can go down as well as up and that past performance is no guarantee of future return. You may not recover what you invest. Changes in exchange rates may have an adverse effect on the value, price or income of foreign currency denominated securities. Levels and bases of taxation can change. Investments or investment services referred to may not be suitable for all recipients.
Quilter Cheviot Limited is a private limited company registered in England with number , registered office at One Kingsway, London WC2B 6AN. Quilter Cheviot Limited has established a branch in Dublin, Ireland with number , is a member of the London Stock Exchange, is authorised and regulated by the UK Financial Conduct Authority and regulated by the Central Bank of Ireland for conduct of business rules. Accordingly, in some respects the regulatory system that applies will be different from that of the United Kingdom.