1. June 2016

2. Introducing iGuard

3. Introducing iGuard
iGuard is a unique investment proposition that offers our clients the following benefits:
A range of investment solutions designed to meet your investment objectives and risk requirements.
Each solution provides you with active management diversification across different asset classes and markets.
You have access to the skills of carefully selected investment managers.
An experienced investment committee select and review these investment solutions and managers on your behalf.
We provide you with regular and relevant communications about your investments.
We negotiate clear and competitive fees on your behalf.

4. Why is diversification so important?
Diversification and the average investor (US)
Mar. 2009
S&P 500 portfolio
Loses over $50,000
Oct. 2007
S&P 500 peak
Nov. 2009
40/60 portfolio
recovers
Oct 2010
60/40 portfolio
Mar. 2012
S&P 500

5. Why is diversification so important?
Diversification and the average investor (UK)
Mar. 2009
S&P 500 portfolio
Loses over $50,000
Oct. 2007
S&P 500 peak
Nov. 2009
40/60 portfolio
recovers
Oct 2010
60/40 portfolio
Mar. 2012
S&P 500

6. Why is active management essential? Markets are increasingly volatile
Number of 3% Daily Moves in S&P500 (by Decade)
Source:  Lipper, Smartim.  Annualised return from the IA sectors over 10 years to 31 March  All figures are total return in sterling and are net of fees including the GWM Investment Management fee of 1%

7. Selecting the right managers makes a big difference
Source:  Lipper, Smartim.  Annualised return from the IA sectors over 10 years to 31 March  All figures are total return in sterling and are net of fees including the GWM Investment Management fee of 1%

8. We all make irrational decisions and that impacts returns
Equity
Fixed Income
Annualized Returns
Index returns are for illustrative purposes only and do not represent actual fund performance. Index returns do not reflect any management fees, transaction costs or expenses. Indices are unmanaged and one cannot invest directly in an index. Source: Dalbar, March Returns calculated in USD with an end date of December 31, The equity index is represented by S&P 500 Index, the fixed income index by Barclays Aggregate Bond Index. Average U.S. equity investor and average U.S. fixed income investor results are calculated using data supplied by the Investment Company Institute. Investor returns are represented by the change in total mutual fund assets after excluding sales, redemption, and exchanges. This method of calculation captures realized and unrealized capital gains, dividends, interest, trading costs, sales charges, fees, expenses and any other costs.
Source: SEI, Smartim

9. GWM build an investment approach that can meet your goals
Concentrated Stock Portfolios
Concentrated
Stock Portfolios
STOCKS EVALUATED INDEPENDENTLY
Efficient Portfolio
THEORY OF PORTFOLIO SELECTION (MARKOWITZ)
Strategic Asset Allocation
(BRINSON, BEEBOWER, SINGER)
Style Diversified Portfolios
MULTI-ASSET
Goals-Based Investing
INVESTORS ARE NOT “RATIONAL” (KAHNEMAN, TVERSKY)
Evolution of Wealth Management
Value-Add Delivered to Client
1900s s
1960s s
1980s s
Today
Source: SEI, Smartim

10. How is the GWM Investment approach different?
Traditional Wealth Management
GWM Approach
Objective
Seek performance in line with specific markets
Seeks to invest according to financial objectives and time horizons
Measure of success
Investment success measured against market benchmarks
Investment success measured
against progress towards goals
Goal attainment
Focus of client conversation
Return / standard deviation
Explain recent market volatility
Provide meaningful advice on
progresstowards goals
Look beyond market volatility
Takes your emotions into account
Addresses your loss aversion

11. GWM Process GWM Investment Committee GWM Risk Assessment
SELECT
MONITOR
REVIEW
REPORT
GWM Risk Assessment
iGuard Investment Solutions
RISK MANAGED PORTFOLIOS
MULTI ASSET FUNDS
CAUTIOUS
CAUTIOUS+
BALANCED +
BALANCED
DEFENSIVE
AGGRESSIVE GROWTH
AGGRESSIVE GROWTH +

12. Our starting point – your attitude and capacity for risk The iGuard Portfolios are all mapped to GWM’s client risk profiles

13. iGuard Who is involved in managing and safeguarding your money?
ADVISER
SERVICE
THE
INVESTMENT
MANAGER
ADMINISTRATION
& CUSTODY
GWM Investment Committee
iGUARD RISK-MGD PORTFOLIOS
Praemium
Northern Trust
Guardian Wealth Management
SMARTFUNDS

14. The iGuard Range of Investment solutions
GWM Risk Profile
Defensive
Cautious
Cautious +
Balanced
Balanced +
Aggressive Growth
Aggressive Growth +
GWM Active Portfolios 
Smartfund
Smartfund Protected
The Smartfund 80% Protected range is mapped to a risk profile using its asset allocation.
The addition of the Protection Component serves to reduce volatility of the fund and the drawdowns that a client could expect to see. This extra protection means that each Smartfund could be appropriate for clients with risk profiles of up to three categories lower. Or alternatively you could select the blend of funds we have suggested in the risk map.

15. iGuard Investment Solutions How do our costs compare?
Type of Investment Solutions
Typical Multi Asset Funds
iGuard risk managed portfolios
Smartfunds
GWM Fee
1.00% 0%
Investment Fee
n/a
0.25%
Underlying Investments
1.85%
0.80%*
1.95%
Platform Fee
0.00%
0.48%
Total Investment cost
2.85%
2.53%

16. Who is involved in the iGuard Portfolios and funds?
Praemium International is regulated by the Jersey Financial Services Commission.
Praemium delegate custody to Northern Trust who are responsible for the safe keeping your assets, along with $6.2 trillion of total assets under custody.
Northern trust are regulated by PRA and the FCA
Praemium client assets are segregated and ring fenced from other Northern Trust clients should Northern Trust fail.
YOUR ADMINSTRATOR
& CUSTODIAN
(PRAEMIUM &
NORTHERN TRUST)
Smartim and Morgan Stanley FundLogic, regulated by the Financial Conduct Authority & Central Bank of Ireland respectively.
They manage your portfolios and select the most suitable investments under mandate agreed with GWM.
By using collectives and/or mutual funds your investment will be spread across different regulated investment funds from different investment companies who ‘ring fence’ the assets of the fund protecting you if the company should fail.
YOUR ADVISER
Regulated in Switzerland, UAE, Hong Kong and UK.
We do not handle your money directly
Assets held by the custodian of selected platform, pension or investment bond
We select the most suitable investment managers; currently Smartim & Morgan Stanley FundLogic.

17. Who are Praemium?
Praemium are responsible for administration of your portfolio and outsource the custody of your
portfolio to Northern Trust, who are responsible for custody of over $6.2 trillion of assets
One of the fastest growing discretionary platforms in the international market, Praemium supports over 700 corporate firms, managing and administering over 300,000 investor accounts and £40 billion of assets.
Founded in Australia in 2001 and listed on the ASX, Praemium operates internationally with offices in Australia, UK, Jersey, Hong Kong, China and Armenia.
Praemium’s clients are firms like GWM that provide financial advice to investors.

18. of the iGuard active portfolios and Smartfunds.
About Smartim
Smartim are responsible for the fund selection and portfolio consultation
of the iGuard active portfolios and Smartfunds.
Smartim are the wholly owned investment management company of the Praemium Group.
The team are responsible for the management of over £250 million of assets in a wide range range of actively managed risk-graded model portfolios and an innovative range of multi-asset funds.

19. Introducing the Smartim Investment Managers
Smartim is the wholly owned investment arm of Praemium responsible for managing over £250m in assets.
The investment team responsible for the day-to-day management of your portfolio has over 40 years of combined experience in the investment management market and a proven track record in designing and managing discretionary portfolios.
Ari Towli has over 19 years of experience in the area of multi asset, multi manager investing. He has worked at Singer & Friedlander, Quilter & Co., Rothschilds and most recently Gartmore and North Investment Partners where he was responsible for fund selection and the management of North’s multi asset portfolios and funds. Whilst at Gartmore, Ari developed the risk tools that were critical to the construction and management of the Gartmore multi manager funds and was instrumental in the design and development of Gartmore’s Multi Manager Absolute Return Fund and North’s range of risk-graded multi- asset portfolios.
ARI TOWLI
Investment Manager
Nick Stanhope has over 13 years of experience in the investment management industry and specialises in the area of multi asset, multi manager investing. Nick has worked for Abbey, Legal & General, Chiswell Associates, Cazenove and most recently at North Investment Partners, where he spent over six years at North as a senior fund manager responsible for fund selection and the management of all North’s multi asset funds and their range of risk-graded portfolios.
Nick STANHOPE
Investment Manager

20. iGuard risk managed portfolios – Investment Process
IDENTIFIES MANAGERS WHO CAN
OUTPERFORM A MARKET OR PEER GROUP 1 2 3
MAXIMISES SHORT TO MEDIUM TERM
OPPORTUNITES
CREATES LONG-TERM DIRECTION
FUND SELECTION
TACTICAL ASSET ALLOCATION
STRATEGIC ASSET ALLOCATION

21. The approach to portfolio construction01
Range of 7 risk graded portfolios 02
Strategic asset allocation creates efficient portfolios using multiple asset classes 03
Tactical asset allocation overlay maximises short/medium-term opportunities 04
Detailed risk & style analysis of funds – looking “under the bonnet” 05
Strict portfolio construction limits ensure diversification and control risk 06
Detailed attribution analysis demonstrates the value added 07
Constant monitoring of portfolio risk at all levels of the investment process

22. How we work with our clients
Advise
We work with you to select or create a portfolios that is tailored to your goals and is suitable given your personal situation and attitude and capacity for risk.
GWM Advises
Invest
Your client portfolios are invested in one or more portfolios using an appropriate administration and custody platform
You can view portfolios 24/7 on-line
Our Managers Invest
GWM supports
Our investment committee will actively monitor the ongoing suitability of our investment managers and portfolios
We will ensure the ongoing suitability of your investments against your goals personal situation, and attitude and capacity for risk
We will provide regular updates and commentaries to keep you informed of changes to your portfolios and information about the markets
Service

23. More about the iGuard Risk Managed Portfolios

24. iGuard Active Portfolios – delivering better risk adjusted returns
Volatility (%)
6.2
5.3
7.0
8.2
Source: Smartim. Lipper. All figures are total return in Sterling.

25. Changes to asset allocation during 2015

26. MSCI World TR GBP% Return 2015
June
Reduced US
Increased Europe & Asia
Chinese Q3 GDP
slowest for six years
Trans Pacific trade agreement approved
US inflation negative
UK inflation turns negative, first time since 1960
April
Reduced US
Increased Asia & Japan
August
Reduce GEM
Increase Japan & Asia
Chinese GDP slowest in 24 years
November
Reduce Japan, US, Asia
Increase Cash
Greece agrees new bailout
ECB announces €60bn QE
ECB disappoints
ECB QE begins
Chinese currency devaluation
Chinese ‘A’ share market peaks
Eurozone price
Inflation negative
ECB lends Greece €3.3bn
European economic
Indicators turn positive
Chinese renminbi added to IMF’s basket of reserve currencies
Greeks reject
bailout
VW emissions scandal
US interest rates rise 0.25%
first time since 2006
China cuts rates for 3rd time
Brent crude oil falls beneath
$40 first time since 2009
Shanghai ‘A’ shares experience
biggest 1 day decline
since 2007
Greece defaults
US IR’s unchanged
Paris terrorist attack
Swiss Bank Drops
Euro Cap
WTI Crude oil
falls below $50
US Q2 GDP revised up
September
Increase Europe, Japan, Asia
Reduce Absolute Return, Cash
Brent crude falls to $42.5
China cuts IR’s & bank reserve requirements

27. More about the Smartfund Protected Funds

28. An strategy to deliver a smoother investment journey
Offers the returns of multi-asset risk-graded portfolios managed by Smartim, with the benefit of capital protection of 80% of the highest ever fund value achieved, provided by Morgan Stanley.
Smartfund Protected Growth Strategy
Smartfund Protected Balanced Strategy
Growth Portfolio
80% Protected Growth Fund
Balanced Portfolio
80% Protected Balanced Fund
Performance
7.4%
6.9%
6.4%
Volatility
15.7%
8.6%
9.9%
6.5%
Max peak to trough drawdown
-54.5%
-20.00%
-40.2%
-18.9%
Source: Smartim. All returns are in sterling and include reinvestment of dividends. The table shows historical simulation of the 80% Protected portfolio vs the respective unprotected version over 10 years to 31 July 2015.
These performance figures reflect what a client might have expected to have received gross which is before the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures include the impact of the monthly performance cap and cost of protection. Past performance is not an indicator of future results.

29. Who is involved in the fund?
Morgan Stanley
(PROTECTION PROVIDER
& INVESTMENT MANAGER)
One of the largest
financial institutions A+ credit rating
US$2tr AUM
Smartim
(SUB INVESTMENT MANAGER)
FCA-authorised subsidiary of Praemium
US$360m AUM

30. About Morgan Stanley Employees Offices Countries Present
Founded in 1935, Morgan Stanley is one of the largest financial institutions in the world. Morgan Stanley has earned a worldwide reputation for excellence in financial advice and market execution. With offices in more than 43 countries, the people of Morgan Stanley are dedicated to providing clients the finest thinking, products and services to help them achieve even their most challenging goals.
Morgan Stanley is a global financial services firm that maintains significant market positions in each of its business segments — Institutional Securities, Wealth Management and Investment Management. The Company, through its subsidiaries and affiliates, provides its products and services to a large and diversified group of clients and customers, including corporations, governments, financial institutions and individuals.
Key Facts as of July 2015
Employees
Offices
Countries Present
2014 Net Revenues
55,802
Over 1,300 43
US$34.27 billion

31. How does Smartfund 80% Protected work?
Performance engine is a
multi-asset investment portfolio actively managed by Smartim.
Investment
Portfolio
Protection contract linked to the investment portfolio ensures a minimum protection level of 80% of the max fund price. Delivered by Morgan Stanley.
Protection
Component
Protected
Fund NAV

32. 01 02 03 04 05 What outcomes will this strategy deliver you?
Smoother investment journey. 02
Peace of mind in volatile markets. 03
Daily traded providing access to capital. 04
Certainty of income when in drawdown. 05
Security of a UCITS IV structure.

33. For illustration purposes only.
How will the fund perform in different market cycles?
Exp: 99%
Day 1
Day 2
Day 3
Day 4
Day 5
120 (20%)
80 (-33%)
120 (50%)
159 (33%)
100
Exp: 96%
Exp: 98%
120 (20%)
97 (-19%)
119 (22%)
157 (33%)
100
Exp: 14%
Exp: 98% 96
126 80
Investment Portfolio
Protected Fund NAV
Protection Level
For illustration purposes only.

34. Smartfund 80% Protected Fund details
Description
Type of fund
UCITS IV
Investment manager
Fundlogic SAS, a member of the Morgan Stanley group
Sub-investment manager
Smart Investment Management
Protection provider
Morgan Stanley & Co. International plc, London
Protection level
80% of the highest NAV reached
Calculation and protection of the highest value
Daily
Share class currencies
USD, EUR, GBP
Dealing frequency
Annual management charge
1.95%

35. Performance of Smartfund 80% Protected Growth so far
(4th September 2015 – 31st March 2016)
Live to date
Since launch
Return
Volatility
Peak/Trough Drawdown
Protected Growth
2.4%
8.7%
-5.9%
MSCI World
3.6%
15.7%
-14.5%
6 month
Return
Volatility
Peak/Trough Drawdown
Protected Growth
0.6%
8.9%
-5.9%
MSCI World
0.9%
15.2%
-14.5%
3 month
Return
Volatility
Peak/Trough Drawdown
Protected Growth
2.4%
8.3%
-2.1%
MSCI World
2.7%
17.2%
-8.8%
Source: Smartim. All returns are in sterling and include reinvestment of dividends. The table shows historical simulation of the 80% Protected portfolio vs the respective unprotected version over 10 years to 31 July 2015.
These performance figures reflect what a client might have expected to have received gross which is before the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures include the impact of the monthly performance cap and cost of protection. Past performance is not an indicator of future results.

36. Performance of Smartfund 80% Protected Balanced so far
(4th September 2015 – 31st March 2016)
Live to date
Since launch
Return
Volatility
Peak/Trough Drawdown
Protected Balanced
1.9%
6.3%
-4.5%
MSCI World
2.3%
15.7%
-14.5%
6 month
Return
Volatility
Peak/Trough Drawdown
Protected Balanced
1.1%
6.5%
-4.5%
MSCI World
0.9%
15.2%
-14.5%
3 month
Return
Volatility
Peak/Trough Drawdown
Protected Balanced
1.7%
6.3%
-1.9%
MSCI World
2.7%
17.2%
-8.8%
Source: Smartim. All returns are in sterling and include reinvestment of dividends. The table shows historical simulation of the 80% Protected portfolio vs the respective unprotected version over 10 years to 31 July 2015.
These performance figures reflect what a client might have expected to have received gross which is before the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures include the impact of the monthly performance cap and cost of protection. Past performance is not an indicator of future results.

37. Important information
This document is a marketing document for the Smartfund 80% Protected range of funds and is solely intended for the use of the IFA.
Please note that this document should not to be forwarded to potential investors. Potential investors cannot have reliance upon the content of this material and should not treat the contents of this document as advice relating to legal, taxation, investment or any other matters.
This information is provided for education purposes only and is not intended to provide legal or investment advice.
The Smartfund 80% Protected Fund range will be sub funds of Fundlogic Alternatives plc, a UCITS fund which is based in Republic of Ireland.
For use by professional financial advisers only. No other person should rely on, or act on any information in this document when making an investment decision. This document has not been approved for use with investors or other clients.