Introduction to Patrigest\'s financial products. There are all structured products, that could be "tailored" to the client\'s needs.

1. A Swiss Portfolio Management Company
Since 1994

2. Content
Proposition of products Page
1. Capital Guaranteed
 Commodity Capital Protected Notes 3
 95% Capital Protected Certificate on the ISE 30 Index 11
2. Performance optimization
 Tracker Certificate on european stocks 16
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3. Commodity Capital Protected Notes
The idea
Commodities are now considered as an important asset
class, and institutional entities are used to investing in that
sector.
Because of negative correlation between financial assets
(such as equities and bonds) and commodities, this product
is a way of diversifying a portfolio.
Consequently, Patrigest proposes a series of financial
products to do with commodities, and this is one of them.
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4. Commodities?
« Commodities are agreements to buy and sell virtually. The
primary commodities that are traded are oil, gold and
agricultural products. Since no one really wants to transport all
those heavy materials, what is actually traded are commodities
futures contracts or options. »
 Commodity prices have a low to negative correlation with
equity and bond prices
 Commodities may offer outperformance potential and
returns which are largely independent of returns in
traditional asset classes
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5. Commodities
Energy products Industrial metals Precious metals
Crude oil, natural Copper, aluminium, Gold, silver, PGM
gas, coal, heating oil, zinc, nickel, lead, tin
gasoline, brent oil
Soft commo Livestocks Alternatives
Corn, wheal, cotton, Lean hogs, live cattle Electricity, weather,
soybean, coffee, plastics, emissions,
cocoa, sugar, orange freight, coal
juice
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6. Commodity price drivers
 Macro-economic factors
 GDP growth
 Population growth
 Economic development (E7)
 Business cycle
 Demand and supply
 Technological
 Short-term supply factors
 External shocks (weather, disease)
 USD development
 Almost all commodities are denominated in USD
 Dollar bloc (USA + China) is the largest consumer
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7. Commodities: some facts
GDP growth
World GDP growth 2010 Forecast:
4.2%
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8. Commodities: some facts
World population by 2050
More than 9 Billion
India: 1.5 billion
China: 1.4 billion
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9. Commodities: some facts
 Chinese consumption represents about 40% of the metal
world consumption in 2009
 China increased its share of world output to record levels in
2009
 Recession in the west but not in China
 Indian world share of metal demand at less than 5%, where
China was 20 years ago. And India is brought to grow
 Resource use per capita is still very low in some of the fastest
growing economies
 We expect emerging markets to continue to expand their
market shares of global commodities consumption
 Long term : this theme of industrialisation, urbanisation and
rising disposable incomes are key demographic trends that
will increase per capita consumption in emerging
economies (E7)
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10. Summary
Big opportunities offered by the commodity markets
in connection with economic growth, population growth
and emerging markets
Nowadays, commodities are considered as an essential asset to hold in
a portfolio.
Commodities represent an excellent way of diversifying
a portfolio of equities and bonds
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11. How to invest in commodities?
Theme Commodities
Currency TRY
Duration 3 years
Issue Date TBD
Protection of the 95% on Maturity Date
capital
Underlying Commodity index composed by 36 commodities
Strike price 95% of the level of the Index at the Valuation Time on
Pricing Date
Issuer Minimum Moody’s A2, S&P’s A+
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12. 95% Capital Protected Certificate on the ISE 30 Index
The idea
The aim of this product is to replicate the performance of
the ISE 30 Index, avoiding the risk with a 95% protection in
capital.
Thus, the investor can participate in the growth of the index
and benefit from protection at the same time.
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13. Our point of view of the Turkish economy
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14. The Turkish economy
The Turkish economy is largely developed
 as The country is among the world’s leading producers of
agricultural products, textiles, motor vehicles, ships and
other tranportation equipment, construction materials,
consumer electronics and home appliances.
 In recent years, Turkey has had rapidly growing private
sector. Now the State still plays a major role in industry,
banking, transport and communications
 Turkey is more than a belief about an emerging market
economy
 The country is included in big economies like E7 (BRIC +
Turkey + Indonesia + Mexico)
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15. The Turkish economy - Statistics
2007 2008 2009 2010 2011
GDP (US$ billion) 649.1 729.4 593.5 590.7 610.4
GDP (per capita) 9422 10479 8427 8294 8478
GDP (growth) 4.6% 0.9% -6.5% 3.7% 4.0%
Inflation rate 8.3% 10.0% 5.8% 6.3% 5.4%
Unemployment 9.9% 10.7% 14.8% 14.8% 13.5%
Foreign reserves 76.5 73.6 65.9 68.9 66.5
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16. The Turkish economy
 Turkey has the world’s 15th largest GDP
 Turkey is a founding member of OECD (1961)
 Turkey is part of G-20 major economies
 Since 1995, Turkey is also a part of the EU Customs Union
 World Bank classifies Turkey as an upper-middle income
country in terms of the country’s per capita
 Forbes magazine, Istanbul, Turkey’s financial capital, had a
total of 35 billionaires in 2009 (up from 25 in 2007/2008),
ranking 4th in the world behind Moscow (74 billionnaires),
New York City (71 billionaires) and London (36 billionaires)
 World Bank and a lot of Business magazines describe Turkey
as an emerging market economy
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17. The Turkish economy
Effect of the global financial crisis
 Like many economies, the Turkish economy has been
affected by the global financial crisis with its Finance
Ministry reporting that Turkey’s budget deficit swelled to 23.2
billion Turkish Liras (US$ 15 billion)in the first half of 2009, 13
times higher than a year earlier
 Share price in Turkey nearly doubled over the course of
2009.
 In the period December 2008 – December 2009 the Turkish
stockmarket rose the most in the world after Argentina’s
stockmarket
 Turkish Bank system has weathered the credit crunch better
than other emerging economies. That means Banks in
Turkey limited mortgage exposure in few toxic assets. This is
a good sign
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18. The Turkish economy in the future
 Turkish Government introduced various stimulus measures to
reduce the impact of the financial crisis
 For instance, temporary tax are being cut on automobiles, home
appliances and housing. This resulted in the production of durable
goods increasing by 7% in one year
 PM Mr. Erdogan wants to create one of the best financial places
of the world in Istanbul
 Turkish Government has brought under control the inflation. This
one is lowered
 Turkish banking authorities warned state-run against the pullback
of loans from the larger financial sectors
 Labour market regulation is a major step and to continue
education level
 Turkish economy will rise in the next years and will be in the top ten
World economy in 2040 (Goldman Sachs)
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19. 95% Capital Protected Certificate on the ISE 30 Index
Historical performance
The 95% capital protection is a good way of avoiding the
risk of a recession, like the one that happend in 2008.
Source:
Bloomberg
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20. 95% Capital Protected Certificate on the ISE 30 Index
Comparison with the Russian index
After the crash in 1996, it took 5 years to the index to
recover its initial value. With 95% capital protection, this risk
is avoided.
5 years
Source: RTS
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21. 95% Capital Protected Certificate on the ISE 30 Index
Description
The 95% CPU is a Product that offers investors a Capital
Guaranteed of 95% at Maturity. At Maturity the investor can
participate with a rate of 105% in the positive performance
(if any) of the Underlying.
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22. 95% Capital Protected Certificate on the ISE 30 Index
Theme Turkish stocks
Currency TRY
Duration 3 years
Issue Date TBD
Issue Price 101%
Protection of the 95% on Maturity Date
capital
Participation 105%
Value The Value of the Certificate depends on 6 valuation dates
(every 6 months during three years)
Underlying Istanbul Stock Exchange 30 Index
Strike price 95% of the level of the Index at the Valuation Time on Pricing
Date
Disclaimer This certificate is build according to Sharia Principles
Issuer Minimum Moody’s A2, S&P’s A+
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23. Tracker Certificate on european stocks
The idea
This basket shares tracks an Index, which is composed of
twelve European stocks based on the stronger convinctions
of one of the best European research in France and one of
the best in Europe.
The composition of this Index could change, according to
the analysis of the markets and the opportunities that
derive from it.
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24. Tracker Certificate on european stocks
Historical performance and composition
The composition of the following stocks: Adidas, Beiersdorf AG, Carlsberg,
Eutelsat, LVMH, Portugal Tel., SAP AG, Smith & Nephew, ST. Chartered,
Tesco, Veolia, WPP. Here is the comparison between the index (in blue)
and his benchmark, the Eurostoxx50 (in grey).
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25. Tracker Certificate on european stocks
Historical performance
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26. Tracker Certificate on european stocks
Description
This Tracker Certificate is composed of twelve European
stocks which are all well implemented in emerging
countries. This product is also a way of benefiting from
growth and consumption in the most important emerging
markets.
The tracker perfectly follows the performance of the Index
and the composition of the index is reallocated when
opportunities are perceived. The target of the index is to
ensure a performance of minimum 20% per year.
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27. Tracker Certificate on european stocks
Theme European stocks
Currency EUR
Duration 3 years
Issue Date TBD
Issue Price 100%
Underlying European stocks index
Issuer Minimum Moody’s A2, S&P’s A+
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28. Conclusion
In Conclusion, our products will fit your requirements
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29. Contact
Patrigest Switzerland Patrigest Turkey
Château 7 The Astoria, Tower A – Floor 9
2001 Neuchâtel Büyükdere Cad. N° 127, Istanbul
Switzerland Turkey
T: +41/32.724.31.06/08 T: +90(0)212.340.76.90
F: +41/32.724.30.33 F: +90(0)212.340.76.01
E: info@patrigestsa.ch Web: www.patrigestsa.ch
Roberto Calligaris CEO roberto.calligaris@patrigestsa.ch
Angel Casillas Associate angel.casillas@patrigestsa.ch
Davide Calligaris Manager davide.calligaris@patrigestsa.ch
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