2. What do clients want? - Its all about outcomes!3
What do clients want? - Its all about outcomes!
Protect
their capital.
Growth to
reach their goals.
Security of
income.
Longevity of
capital.

3. Diversification is important to delivering these…4
Diversification is important to delivering these…
Source: Smartim, Lipper 31st December 1985 to 31st December All figures are total return in sterling.

4. …but it does not always work - 20085
…but it does not always work
Source: Smartim, Lipper 31st December 2007 to the 31st December All figures are total return in sterling.

5. Source: Smartim, Lipper.6
Look at the experience of balanced multi asset funds
Example Balanced Fund Performance
Peak to Trough Drawdowns
-13%
-33%
-14%
-16%
Source: Smartim, Lipper.

6. Source: Smartim, Lipper7
So where are we today? Bonds are not the safe haven they once were
The impact of an increased expectation of a rate increase on German Bund Yields in July 2015!
Warning of what we might expect when Central banks exit QE.
Source: Smartim, Lipper

7. Equity market volatility and correlation are elevated8
Equity market volatility and correlation are elevated
Equity Market Correlations
Equity Market Volatilities
6m Correlation
6m Volatility
Equity market volatility has moved back above its long term average
Global equity market correlations have climbed towards their 25 year high
Source: Bloomberg. Note Equity correlation is the average of pairwise correlation of five regional equity indices (US, Europe, Japan, UK and EM). Equity volatility is the calculated from the daily returns of the MSCI World index. Past performance is not necessarily indicative of future results.

8. Time for alternative strategy? Introducing Smartfund 80% Protected9
Time for alternative strategy? Introducing Smartfund 80% Protected
Smartfund Protected Growth 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%
Smartfund Protected Balanced Strategy
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.

9. What outcomes can this strategy deliver for your clients?
10
What outcomes can this strategy deliver for your clients? 01
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 Capital Protection in UCITSIV structure.

10. What outcomes can this strategy deliver for you?
11
What outcomes can this strategy deliver for you? 01
Create long-term client relationships. 02
Offer leading-edge protection from Morgan Stanley, one of the world's largest investment banks. 03
Deliver a solution for legacy clients in portfolio bonds
and regular savings products – protect your clients’ assets and and your income. 04
Use as a core holding along side satellite investments. 05
A innovative strategy for the at- and post- retirement market.

11. How does Smartfund 80% Protected work?
12
How does Smartfund 80% Protected work?
Performance engine is a
multi-asset investment portfolio actively managed by Smartim.
Investment
Portfolio
Put option linked to the investment portfolio ensures a minimum protection level of 80% of the max NAV. Delivered by Morgan Stanley.
Protection
Component
Protected
Fund NAV

12. Actively managed investment portfolio
13
A multi-faceted approach 01 02 03 04
Actively managed investment portfolio
A volatility
control mechanism
Performance cost
management
Protection
contract

13. Actively managed investment engine
14
Actively managed investment engine
Smartfund 80%
Protected Balanced
Smartfund 80%
Protected Growth
Equity
Fixed Income
Absolute Return
Property
Cash
Monthly Performance Cap 4% 6%
Protection Level
80%
80%

14. Active control of exposure to market volatility
15
Active control of exposure to market volatility
The fund uses an active risk on/risk off strategy based on prevailing market
volatility vs a target, or expected level
exploit the long term trends between volatility and return
maintain the fund’s volatility close to the specified target level
(helping to manage the risk of suitability drift)
minimise the costs of purchasing protection (and their variability)
12% 8%
150%
Growth
Volatility Target
125%
Balanced
150%
Asset Exposure
50%
Asset Exposure
100%
Asset Exposure
Maximum Exposure
50%
Cash Exposure
-50%
Cash Exposure
Illustrative composition of 12% risk budget with 150% maximum exposure in different market volatility regimes

15. For illustration purposes only.
16
Managing the cost of protection
To offset the cost of protection the fund ‘sells away’ performance above a monthly cap level - the fund receives a premium which it uses to offset the cost of holding protection.
Similar to the premium yield generated by call overwriting.
The result - a ‘collared’ investment strategy similar to that used in the institutional market:
For illustration purposes only.

16. For illustration purposes only.
17
How does the protection component work? 1
Year
Fund Launch:
Fund NAV equal to the value of two assets: the Investment Strategy and the Protection component.
Investment Strategy
Protection Component
Max NAV 2
Year
Market Crash:
Losses in the Investment Strategy are cushioned by the increasing value of the Protection component (the ‘airbag’).
Protection 3
Year
Market Recovering:
As the market recovers, the gains in the Investment
Strategy causes the NAV to rise above the Protection level
(no persistent ‘cash-lock’ experienced). 4
Year
New Maximum NAV:
Continued gains in the Investment Strategy lead to
a new MaxNAV for the Protected Fund; investors benefit
From increase Protection level as a result.
For illustration purposes only.

17. For illustration purposes only.
18
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.

18. Who is involved in the fund?
19
Who is involved in the fund?
Praemium
(distributor)
Fundlogic SAS
(investment manager)
Smartim
(sub investment manager)
Morgan Stanley
(protection provider)
ASX-listed provider of
international fintech and investment solutions
Subsidiary of Morgan Stanley UCITS IV platform
FCA-authorised subsidiary of Praemium
One of the largest financial institutions A+ credit rating
US$62.5bn
US$11.5bn AUM
US$360m AUM
US$2tr AUM

19. Packaging the strategy for retail investors - Smartfund 80% Protected
20
Packaging the strategy for retail investors - Smartfund 80% Protected
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%/0.50%

20. 21
Performance of Smartfund 80% Protected Growth Fund (31st December 2017– 31st January 2018)
Year to Date
Return
Volatility
Peak/Trough Drawdown
Protected Growth Fund
0.64%
9.63%
-2.63%
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

21. 22
Performance of Smartfund 80% Protected Growth Fund (4th September 2015 – 31st January 2018)
Since Launch
Return
Volatility
Peak/Trough Drawdown
Protection Level
Protected Growth Fund
20.61%
9.50%
-5.88%
99.10%
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

22. Protected Balanced Fund
23
Performance of Smartfund 80% Protected Balanced Fund (31st December 2017– 31st January 2018)
Year to Date
Return
Volatility
Peak/Trough Drawdown
Protected Balanced Fund
0.85%
6.97%
-2.03%
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

23. Protected Balanced Fund
24
Performance of Smartfund 80% Protected Balanced Fund (2nd September 2015 – 31st January 2018)
Since Launch
Return
Volatility
Peak/Trough Drawdown
Protection Level
Protected Balanced Fund
11.39%
6.73%
-4.47%
90.95%
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

24. 25
Smartfund Performance Unprotected – Year to date (31st December 2017– 31st January 2018)
Year to Date
Smartfund Cautious
Smartfund Balanced
Smartfund
Growth
Return
-0.78%
-0.74%
-0.07%
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

25. 26
Smartfund Performance Unprotected (01st November 2008 – 31st January 2018)
Smartfund Cautious
Smartfund Balanced
Smartfund
Growth
Return
60.12%
88.88%
126.85%
Annualised
Volatility*
4.58%
5.99%
8.99%
* Since launch – 3rd November 2008
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

26. Smartfund Performance Unprotected
27
Smartfund Performance Unprotected
(01st November 2008 to 31st January 2018)
Year to Date
Smartfund Cautious
Smartfund Balanced
Smartfund
Growth
Return
-0.78%
-0.74%
-0.07%
Smartfund Cautious
Smartfund Balanced
Smartfund
Growth
Return
60.12%
88.88%
126.85%
Annualised
Volatility*
4.58%
5.99%
8.99%
* Since launch – 3rd November 2008
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

27. Smartfund 80% Protected Growth
28
Smartfund 80% Protected returns comparison (31st December 2017 – 31st January 2018)
The Smartfund 80% Protected Growth fund performance against the peer group - YTD.
Smartfund 80% Protected Growth
VAM Driehaus
Momentum
Fidelity
GAM
GS Wealth- builder
Return
064%
3.78%
-0.49%
-0.97%
1.34%
1.69%
Vol
9.63%
7.53%
4.08%
5.64%
6.64%
6.52%
Max Drawdown
-2.63%
-1.72%
-1.49%
-2.21%
-1.43%
-1.07%
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

28. Smartfund 80% Protected Growth
29
Smartfund 80% Protected returns comparison (September 2015– 31st December 2017)
The Smartfund 80% Protected Growth fund performance against the peer group – Since Launch.
Smartfund 80% Protected Growth
VAM Driehaus
Momentum
Fidelity
GAM
GS Wealth- builder
Return
20.61%
23.95%
27.57%
24.30%
27.12%
34.59%
Vol
9.50%
10.37%
6.91%
7.59%
7.21%
8.28%
Max Drawdown
-5.88%
-17.18%
-7.65%
-8.84%
-11.46%
-11.07%
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

29. Smartfund 80% Protected returns comparison
30
Smartfund 80% Protected returns comparison
The Smartfund 80% Protected Growth fund performance against the peer group - YTD.
Smartfund 80% Protected Growth
VAM Driehaus
Momentum
Fidelity
GAM
GS Wealth- builder
Return
064%
3.78%
-0.49%
-0.97%
1.34%
1.69%
Vol
9.63%
7.53%
4.08%
5.64%
6.64%
6.52%
Max Drawdown
-2.63%
-1.72%
-1.49%
-2.21%
-1.43%
-1.07%
The Smartfund 80% Protected Growth fund performance against the peer group – Since Launch.
Smartfund 80% Protected Growth
VAM Driehaus
Momentum
Fidelity
GAM
GS Wealth- builder
Return
20.61%
23.95%
27.57%
24.30%
27.12%
34.59%
Vol
9.50%
10.37%
6.91%
7.59%
7.21%
8.28%
Max Drawdown
-5.88%
-17.18%
-7.65%
-8.84%
-11.46%
-11.07%
Source: Smart Investment management Limited, Bloomberg. All figures are total return in sterling. This information has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Additional information is available on request. Past performance is not necessarily indicative of future results. Price and availability are subject to change without notice. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal recommendation. These performance figures reflect what a client might have expected to receive net, which is after the deduction of any fund management charges or adviser fees. The annual management charge of the fund is 1.95%. These figures also reflect the impact of the monthly performance cap and the cost of the protection.

30. Important information
31
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.