Investment Management Uncovered! 15 October 2015 John Stavis Portfolio Management Academy Leader

About me 2 My background  Joined as an MBA hire in 1995  7 years in emerging markets, 3 years managing Europe ME and Africa portion of the global fund  1 year as Anthony Bolton’s assistant on UK Special Situations  7 years managing UK funds  2 years as shorting analyst  4 years managing the Portfolio Manager training programme We have the opportunity to invest in equities, bonds, funds and property companies globally on behalf of our clients including corporations, governments, charities, advisors, financial institutions and individuals Why did I choose Investment Management?  A good combination of individual and team work  A very wide range of skills applied  Applicability across a range of careers  I was always fascinated how things work

So what is Investment Management About? 3 Investing clients’ money today in the hope of future returns We take a fee for this service, but the client bears the risk and reaps the rewards. The business model is very transparent and there’s little scope for conflicts of interest Mostly to close future liabilities like:  Retirement  Education

Investment management comes in a variety of flavours 4 Mutual Funds – private individuals, either 1) direct, or 2) indirect/wholesale Insurance Companies – private individuals who have bought an insurance product with an investment element – e.g. ‘life insurance’ Pension Funds – company workers, looked after by professional trustees Hedge Funds – High net worth individuals

The best things about this job 5 Even the best people are wrong 45% of the time! You will meet outstanding individuals along the way: I sat next to Nelson Mandela at lunch Quantifiable performance indicators – you own your results Endless variety and challenge. This job can keep you engaged and entertained for decades

A few final words on career planning  Think about the long term outlook for the industry  Think about the company’s position in that industry  Think about obsolescence and the risk of disintermediation  Only consider working with people who are capable, have a high level of integrity and honesty