Andbank Funds investment solutions

1. Andbank Funds Investment Solutions
IPB Conference - January 2014

2. 2Agenda
1. Overview of Fund investment solutions
2. Andbank Funds performance
3. Final remarks

3. 3Customers invest largely in funds
> About € 2.975mio invested in funds by private banking customers.
> Andbank AM manages above € 1.410mio.
• Customers invest conservatively.
• Internal management allows us to deliver good performance and
to preserve profitability.
• An opportunity for value-added solutions.
Global
3,3%
US
2,0%
European
7,1%
Sector
0,6%
Japan
0,3%
Iberian
1,1%
Other
0,0%
EM Global
3,6%
EM Asia
2,3% EM Latam
0,1%
Money Market
24,1%
Governments
3,5%
Inflation
0,2%
Global Bonds
20,4%
Diversified
7,4%
Corporate
3,9%
Convertibles
0,2%
Other
2,3%
EM
2,1%
High Yield
1,8%
Asset Allocation
7,9%
Real Estate
0,3%
Commodities
0,2%
HF
4,8%
Other
0,5%
Equity
Alternative
Fixed Income

4. 4
We offer fund investment solutions to meet customers’ needs
Investment Funds
Andbank FundsOpen Architecture
Selected
asset
managers
within their
investment
category
Investment
Management
in areas of
expertise
Fund
distribution
platforms
to facilitate
dealing in
funds
Solutions in
leading
jurisdictions
Lux, BVI,
And.
Specialized
Assets
e.g.
Spanish PE
and Loans

5. 5Andbank Funds: building a global fund platform
> From Andorra to global reach: developing Luxembourg UCITs and BVI.
> Good fund performance compared to global peers.
Andbank Latin America Fund (Ucits FCP)Andbank Latin America Fund (Ucits FCP)
Andbank Iberian Equities (Ucits FCP)Andbank Iberian Equities (Ucits FCP)
Andbank European Equities (Ucits FCP)Andbank European Equities (Ucits FCP)
Andbank Balanced (Ucits FCP)Andbank Balanced (Ucits FCP)
Andbank Flexible Allocation (Ucits FCP)Andbank Flexible Allocation (Ucits FCP)
Andbanc Latin America Credit Opportunities (SIF)Andbanc Latin America Credit Opportunities (SIF)
Andbank Credit Fund (Ucits FCP)Andbank Credit Fund (Ucits FCP)
Medicompte Euro Short Term (Ucits FCP)Medicompte Euro Short Term (Ucits FCP)
Andbank Short Term (Ucits FCP)Andbank Short Term (Ucits FCP)
Profitability
Risk

6. 6Agenda
1. Overview of Fund investment solutions
2. Andbank Funds performance
3. Final remarks

7. 7Top-performing funds in fixed income
> Very good results have been delivered.
Fund 2013 Return
DWS INVEST-EURO BONDS (SHORT) FC 3,52%
DWS INVEST-EURO BONDS 3,37%
ASTRA FCP MEDICOMPTEEURO S.TERM 2,88%
CARMIGNAC SECURITEC-3 DEC. 2,56%
BLACKROCK BGF EUR SHRT DURABOND(D2) 2,28%
BLACKROCK BGF EUR SHRT DURABOND(A1) 1,94%
BLACKROCK BGF EUR SHRT DUR BOND(A2) 1,92%
PICTET EUR SHORT MID-TERM BONDS 1,81%
BLACKROCK BGF EUR SHRT DURABOND(E2) 1,41%
SISF EUR SHORT TER BD B ACC 1,30%
FIDELITY SH BD ( E) 0,62%
PRIVARY V GLOBAL 0,43%
SWISSCANTO (LU)SICAVII-M.M.EUR(B)CA -0,06%
CAPITALATWK FOY.UM-CASH PL ATWORK -0,40%
ABERDEEN GL.II EURO SHORT TERM -0,63%
EUR Diversified Bond - Short Term
Fund 2013 Return
AMUNDI FUNDSBOND GLOBAL AGGREGATE 4,31%
FRANKL.TEMPL. INV. GLOB BOND EUR 4,13%
FRANKL.TEMPL.IF-GL.TOT.RET(I)EUR-H1 3,68%
FRANKL.TEMPL.IF-TOT.RET.(A)MDIS-H1 3,24%
ASTRA SICAV SIF-BOND OPP. A EUR 3,20%
ASTRA SICAV SIF-BOND OPP. A USD 3,15%
FRANKL.TEMPL.IF-GL.TOTAL RET.(A)H1 3,09%
FRANKL.TEMPL.IF-GL.TOTAL RET.(N)H1 2,52%
FRANKL.TEMPL.IF-GL.BOND(A)H1 0,97%
FRANKL.TEMPL.IF-GL.BOND(A) MDIS-H1 0,81%
PIMCO GB INV. SER. BOND EX US FUND 0,64%
FRANKL.TEMPL.IF-GL.BOND(N)EUR H1 0,24%
FRANKL.TEMPL.IF-GL.BOND (EURO)FD(A) 0,00%
LEGG MAS. GL.FDS PLC CL.(A) EUR -0,19%
M&G GBL.MACRO BD.HDGD GROSS EUR -0,40%
M&G GLOBAL MACRO BOND FUND -1,02%
ROBECO LUX-O-RENTEFUND DH EUR -2,13%
Global Bond EUR Hedge
Fund 2013 Return
ASTRA FCP SHORT TERM 0,43%
GROUPAMA ENTREPRISES(I) 4DEC 0,27%
CARMIGNAC COURT TERME-3DEC 0,20%
AMUNDI FDS-MONEY MKT EURO (AE) 0,10%
AMUNDI FUNDS CASH EUR (CL FE) 0,07%
CRED.SUIS.SICAV II-MONEY MKT(B)EUR 0,05%
EDR PRIFUND-MM EUR -A- CAP 0,03%
UBS (LUX) SICAV2-MONEY MKT EUR-B 0,02%
JPM INVF-EURO LIQUID MARKET(A)ACC 0,00%
AMUNDI INTERINVEST-SHORT EUR(P) 0,00%
GROUPAMA ENTREPRISES(N) 4DEC 0,00%
UBS (LUX) MONEY MARKET(EUR) -0,01%
PICTET FDS EUR LIQUIDITY (P-CAP) -0,07%
CREDIINVEST -MONEY MARKET (A) EUR -0,07%
PICTET MONEY MARKET-EUR (P) -0,08%
PICTET-EUR SOVEREIGN LIQUIDITY(P) -0,17%
EUR Money Market & EUR Money Market - Short Term

8. 8Andbank Equity funds compete very well against peers
> Top percentile of our
European equity fund
Fund 2013 Return
INVESCO PAN EUROPEAN FUND A 33,54%
JPMF EUROPE DYNAMIC-A EUR 32,72%
HENDERSON HOR.FD-PAN EUR EQ.DIV.(I2 31,81%
HALLEY SICAV-H.EUR.EQ.A CAP 29,31%
HENDERSON HORIZ.FD.-PAN EUROP.EQ.A2 25,17%
JPMF FDS-EUROPE SEL.EQ.(A) ACC 24,08%
INVESCO-PAN EUROPEAN STRUCTURED (C 23,90%
UBS (LUX) EQTY FUND EUROP. OPPORT. 23,72%
MFS MERIDIAN FDS-EUROPEAN VALUE(A1) 23,68%
INVESCO-PAN EUROPEAN STRUCTURED A 23,27%
BLACKROCK BGF EUROPEAN FOCUS (A2) 21,66%
SCHRODER INT SEL-EUROP. LARG CAP A1 21,13%
FAST-EUROPE FUND(Y) 20,96%
CAPITALATWORK-FOY.UM-EUR.EQ.ATWORK 20,88%
MFS MERIDIAN FDS EUROPEAN VALUE 20,62%
FIDELITY ACT.STRATEGY-EUROPE FUND(A 20,18%
OYSTER-EUROPEAN OPPORTUNITIES EUR 19,87%
ING(L)-INVEST EUROPEAN EQUITY-CAP-P 19,79%
FIDELITY EUROPEAN AGGRESSIVE E 19,78%
PICTET FUNDS(LUX)-EURP.INDEX PART'P 19,56%
MFS MERIDIAN FDS-EUROPEAN VALUE EUR 19,47%
FIDELITY EUROPEAN GROWTH A 19,45%
OYSTER EUROPEAN OPPORTUNITY C 19,31%
PICTET-EUROPE INDEX(R)EUR 19,23%
FIDELITY EUROPEAN GROWTH E 18,60%
MELLON GL.-PAN EUROPEAN EQ.PF(A)EUR 18,38%
DWS EUROPAEISCHE AKTIEN TYP 17,95%
UNI GLOBAL SICAV-MIN VARIANCE EUROP 17,20%
SCHRODER SISF-EUR SPEC. SITUA. (A) 16,66%
M&G INV.FDS-PAN EUROPEAN ( A ) 16,59%
LBPAM EUROPE SICAV C 16,17%
SCHRODER INT. SEL. EUR. SPEC. FUND 14,99%
ABERDEEN GB EUROPEAN EQUITY A2 14,91%
PICTET-EUROPEAN EQUITY SELECT.(P)EU 11,81%
Europe Large Cap Blend Equity

9. 9Stable performance of multiasset portfolios
Annualized Return 3,3% 4,7% 5,7% 1,9% 3,3%
Volatility 1,9% 3,1% 4,5% 17,5% 3,2%
Sharpe 174,9% 153,3% 127,4% 10,8% 103,2%
Downside Frequency 29,4% 29,4% 29,4% 45,1% 37,3%
Upside Frequency 70,6% 70,6% 70,6% 54,9% 62,7%
VaR -2,2% -3,8% -6,3% -29,7% -4,0%
Drawdown -1,2% -1,6% -3,2% -29,7% -3,9%
Conservative Moderate Expert Euro Stoxx50 Europe Bond 3-5y

10. 10Agenda
1. Overview of Fund investment solutions
2. Andbank Funds performance
3. Final remarks

11. 11
Final remarks
> A full range of fund investment solutions offered to clients:
• Broad access to international funds.
• Global distribution platform (Lux, BVI, And).
> Andbank AM is delivering very good results to customers.
• Fixed income
• European equities
• Multiasset portfolios