2012-12-31 CB Funds Team Carl Bernadotte Founded CB Asset - - PowerPoint PPT Presentation

2012-12-31

Carl Bernadotte Founded CB Asset Management 1994 26 years of experience Owner, ABB Investment Management, portfolio manager Portfolio management ABB Aros Securities, head broker Edu: Master of Science in Business and Economics, born 1955 Stockholm University Marcus Grimfors Edu: Bachelor of Science in Business and Economics, 4 years of experience Portfolio management Stockholm University; Joined CB August 2008 Master of Science in Engineering Physics, born 1981 Royal Institute of Technology, Stockholm Alexander Jansson Acacia Partners (Alder), analyst 4 years of experience Portfolio management Edu: Master of Science in Business Administration and Joined CB October 2009 Bachelor of Science in Economics, Uppsala University born 1983 Erik Allenius Somnell Edu: Master of Science in Industrial Engineering Marketing and Management Joined CB January 2013 Royal Institute of Technology (KTH) born 1984

CB Funds

Team

2

Jan Malmgren Consultant. Since inception Chairman Has been managing director at Öhman Fondkommission and born 1948 SBC Arbitech (now referred to as UBS Stockholm). Nils Bildt Founder and co-owner of Teleopti AB, a niche-oriented, Joined the board 2008 Member multinational software-optimising company, maintaining born 1952 communication networks and contact centres around the world. Per-Otto Hyland Senior Advisor of the Investment banking of Credit Suisse. Has Joined the board 2008 Member worked close to 30 years in different international banks. Board born 1954 member of NatImmune, a Danish biotech-company, BlueStep Bostadslån, a Swedish financial services company, and Innovation, a Norwegian strategy consultancy. Christoffer Saidac Partner at Hannes Snellman Attorneys Ltd. Since inception Member Has worked many years within Corporate Finance born 1959 and Capital Markets at Vinge. Carl Bernadotte Managing director and owner, CB Asset Management. Since inception Member born 1955

3

CB Funds

Board of Directors

Caceis Luxemburg SEB Luxemburg European Quality Fund CB Hedge Save Earth Fund CB Funds Stockholm

CB Funds

4

Swedish Financial Supervisory Authority

Our philosophy

• Private and institutional investors alike seek return on assets. This is

the foundation for all investments.

• Our philosophy and goal, therefore, is to generate an absolute

return and at the same time to be competitive in relation to a relevant index.

• Simplicity, Quality and Long-term perspective are our guidelines.

CB Funds

5

CB Funds

6

Ethical guidelines

• No investments in companies active in
• Production of tobacco or alcohol
• Weapons manufacturing
• Gambling
• Pornography
• Became a signatory of the “The United Nations-backed Principles for

Responsible Investment Initiative” (PRI) in February 2011.

• European Quality Fund and Save Earth Fund have been awarded the

environmental-ethical ME-labeling from PPM.

This document is neither an offer to sell nor a solicitation to invest. Such offers

• r solicitations must be preceded or accompanied by a current offering

document of the funds. This document is submitted to you confidentially solely in connection with your consideration of an investment in CB Hedge, European Quality Fund and/or Save Earth Fund (the “Funds”). The preceding/upcoming pages constitute a summary only. No assurance can be given that the investment objective will be achieved, and investment results may vary substantially over any given time period. Past performance is not necessarily indicative of future results. The funds involves a degree of risk. An investor in the funds could lose all or a substantial amount of his or her investment. The funds has fees that will reduce returns. The funds performance may be volatile.

Disclaimer

CB Funds

7

N/A N/A

The most successful managers in the world – in one fund

3-Year 5-Year 10-Year

Investment universe

Renewable energy

• Wind
• Solar
• Hydro
• Bio
• Geothermal

Water treatment

• Filtration
• Saving/Efficiency
• Infrastructure

Cleantech

• Energy storage
• Energy infrastructure
• Energy efficiency
• Transportation
• Emissions control
• Smart materials
• Recycling & Waste treatment

Save Earth Fund

Save Earth Fund

9

Triggers

Rapid population expansion Limited natural resources Aging infrastructure

Consequences

• Increase in energy demand
• Rising CO2 levels
• Low carbon economy

investment

• Increasing demand for

materials

• Energy security
• Water stress
• Science
• Research & Development
• Protection of

environmental and people

• Governmental policies

Enablers

Capital requirements

Save Earth Fund

10

Guidelines

• Actively managed funds and ETF:s within renewable energy, cleantech and

water treatment

• Global universe
• Low density/well-diversified portfolio (6-10 funds)

Objective

• Lower than MSCI World volatility
• Absolute return (rolling 36 months)
• MSCI World (outperformance rolling 12 months)

Save Earth Fund

11

Save Earth Fund

Investment strategy

Identification of investment universe Criteria check Shortlist

20-30 funds

Quantitative screening Qualitative screening Allocation Investment

6-10 funds

All available funds and strategies – 150 funds; 40 ETF:s; and ~200 stocks Liquidity, AUM, diversification, track-record Performance, standard deviation, sharpe ratio, alpha, beta, correlation and drawdown Track record, view on risk, competences, incentives etc Sector- and region allocation

12

SEF – performance 2012 MSCI World SEF – performance 12 months MSCI World SEF – performance 36 months MSCI World SEF – standard deviation MSCI World Tracking error (Active risk) Beta (Sensitivity tio market fluctuations) Information ratio (>0 justifies active management) R2 (100% if active risk is 0%)

Save Earth Fund

*All fees are included if nothing else is stated. The performance of MSCI World includes dividends.

Calculated since fund inception

13

Key ratios*, as of December 31 (EUR)

+13.8% +14.0% +13.8% +14.0% +5.60% +33.1% 11.4% 10.2% 6.3% 0.94

• 1.18

70.1%

Save Earth Fund

Performance since fund inception, 2008-06-09 (EUR)

0.0%

• 66.1%

+0.2%

• 23.2%

+18.5%

Renewable energy index: WilderHill New Energy Global Innovation Index Water index: Palisades Global Water Index Cleantech index: The Cleantech Index MSCI World: MSCI World

14

Save Earth Fund

Sector allocation

* The cash in the underlying funds is included.

15

Geographical allocation

Save Earth Fund

16

* The cash in the underlying funds is included.

Save Earth Fund

Valuation

17

Save Earth Fund

Risk analysis

18

Rolling 90 days correlation with MSCI World* Rolling 90 days standard deviation* Rolling 90 days beta against MSCI World* Rolling 90 days tracking error against MSCI World*

*Data for 36 months. The key ratios are for Save Earth Fund.

Save Earth Fund

Fund facts

• Fund name:

Save Earth Fund

• Manager:

CB Asset Management AB

• Domicile:

Luxembourg

• Custodian:

SEB Fund Service, Luxembourg

• Auditor:

PricewaterhouseCoopers S.ár.I.

• Currency:

EUR

• Liquidity/NAV:

Daily/Daily

• Fees:

Fixed annual management fee of 1%. Performance fee of 20% on net return above MSCI World

• High Watermark:

Yes, collective

• Subcription fee:

No

• Redemption fee:

No

• Fund launch:

June 9, 2008

• Minimum investment:

None

• PPM:

639 690

• ISIN/Reuters/Bloomberg:

LU0354788688 / 913218.FBF / CBSVERC LX

19