For investment professionals only Thesis overview

1 Thesis overview For investment professionals onlyProfessional investment partnersThesis Asset Management About us Thesis Asset Management specialises in developing partnerships with professionals in financial advice, law, accountancy and tax. We create bespoke solutions and centralised investment propositions, including model portfolios, to help advisers meet their clients investment needs. Thesis group invests on behalf of private clients, charities, pension funds and group has approximately billion of funds under management (as at 30/11/2016).Our historyThesis is a public limited company, incorporated in 1974 by law firm Thomas Eggar (now called Irwin Mitchell), with the aim of offering asset management services to clients of the law firm.

2 Thesis is no longer directly owned by the law firm, although it is still owned by some of the current and former partners of the firm. The investment management service expanded over the decades to include clients of other firms of financial advisers, accountants and lawyers. Many of our new clients are introduced to us through referrals, and we welcome this chance to develop partnerships with other professional ratings and reviewAdvisers can use independent third parties to compare Thesis to other investment managers. Our bespoke portfolios are analysed by Asset Risk Consultants (ARC) which enables advisers to compare our portfolio risk and performance with other investment managers.

3 Our model portfolios can be analysed through adviser risk profiling tool Dynamic Planner and through FE Analytics. Independent ratings company Defaqto has awarded our model and bespoke portfolios the highest five star rating, and five diamonds for Optima funds. What we do We have identified seven levels of attitude to investment risk from a low/moderate tolerance to a relatively high tolerance. We apply our investment process to produce model portfolios that most closely represent the seven different attitudes to risk. We use these models as the basis for constructing portfolios on behalf of the vast majority of our aim is to reduce risk in the portfolios wherever we can while still aiming to achieve their investment and investment objectivesWealth preservationWealth accumulationPortfolio1 of 72 of 73 of 74 of 75 of 76 of 77 of 7 Risk appetite.

4 Low/moderate risk I can accept small, short term losses, but am still concerned about the safety of my risk I am seeking a balance between safety and investment growth risk I am seeking investment growth and am prepared to accept some losses for potentially higher risk I am willing to accept significant risk and potential losses in the pursuit of higher long term investment to capital loss:Low/moderate risk Taking some short term drop in value in an effort to achieve higher long term returns is acceptable. I would prefer the majority of my capital to be held in conservative risk Achieving a balance between conservative and higher returns is my aim and I accept that there will be a degree of short term value risk Seeking higher long term returns is important to me, so I am willing to accept the substantial short term drops in value that may result from investing in more speculative risk Maximising long term investment returns is my main objective and I am willing to accept large and sometimes dramatic short term drops in objectives: I am seeking only a high level of income and do not require any prospects of capital growth.

5 I am seeking a reasonable level of income and limited capital growth am primarily seeking income and some capital growth am seeking income together with a reasonable degree of capital am primarily seeking capital growth with some requirement for am primarily seeking capital growth with limited requirement for am primarily seeking to maximise capital growth over the medium to longer investment philosophyDifferent asset classes do not move in step with each other, and therefore holding a diversified variety of assets helps to moderate the level of risk in a portfolio. While we will often want to reduce the weighting to an asset class whose prospects we do not like, we always need to maintain a level of investment process In order to enforce this, we have set a strategic range for each of the three main classes of asset equities, alternative assets and fixed interest in each mandate.

6 Our tactical positioning can fall anywhere within these ranges, but not outside. This ensures both that portfolios do not become too concentrated and that their risk levels are unlikely to cross over each other (for example the mandate 5 of 7 should always be less risky than mandate 6 of 7). only if we foresaw extreme circumstances for one or more asset classes would we choose to take any of the mandates outside their managementThesis offers discretionary investment management services based on seven different levels of risk tolerance. These risk profiles are accommodated in multi asset personal portfolios tailored to suit individual clients, as well as model portfolio services that use both active and passive underlying holdings, and diversified fund of brand investment modelsAdvisers may want to offer clients an investment service where Thesis provides the underlying management.

7 We offer co-branding for investment models which allows adviser firms to market the services under their own ranges and indicative positioning for each mandate The illustration shows the strategic range for each asset class and an indicative allocation for each 90 80 70 60 50 40 30 20 10 01 of 7 2 of 7 3 of 7 4 of 7 5 of 7 6 of 7 7 of 7 Current Fixed income Alternatives Equity Cash%To find out how Thesis can deliver the right investment management services for your clients, please contact our business development Cook Director of Marketing and Business DevelopmentT: 01483 406 115 M: 07899 802 048 E: Neal Regional DirectorT: 01483 406 116 M: 07817 829 480 E: Hunter Regional DirectorT: 01590 613 592 M: 07854 267 766 E: Hastings Regional DirectorT: 01483 406 123 M: 07920 557 815 E: OfficeExchange Building, St John s Street, Chichester PO19 1UP Tel: 01243 531 234 Brighton: 01273 728 188 Guildford: 01483 304 183 Lymington: 01590 613 580 Issued by Thesis Asset Management plc.

8 Head office: Exchange Building, St John s Street, Chichester PO19 1UP. Authorised and regulated by the Financial Conduct Authority. The value of an investment and the income from it can fall as well as rise, and investors may not receive back the amount they invest. Past performance is not a guide to the future. January 2017. TAM1701_24