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BRIDGING THE GAP BETWEEN FUND MANAGERS AND INVESTORS Pinnacle Fund Services Client Service Presentation Fund Services Presentation 1 4 Pinnacle Overview Working with Pinnacle 2 Pinnacle Team 5 Contact 3 6 Sample Reports Why Pinnacle


  1. BRIDGING THE GAP BETWEEN FUND MANAGERS AND INVESTORS Pinnacle Fund Services Client Service Presentation

  2. Fund Services Presentation 1 4 Pinnacle Overview Working with Pinnacle 2 Pinnacle Team 5 Contact 3 6 Sample Reports Why Pinnacle 2

  3. Pinnacle Overview Purpose To provide exceptional services to the investment fund industry by building meaningful connections with our clients and each other Guiding Principles Integrity Excellence • We believe that nothing is more important than our • Everything we do must be of the highest quality. reputation, and behaving with the highest levels of integrity • We will research and develop innovative solutions is fundamental to who we are. that help our team and clients achieve success. Resepect Collaboration • We will respect each individual’s dignity and merit. • We will be a learning organization, turning mistakes into learning, and sharing solutions with each other. • In all our interactions with clients and team members, we will deal with others as we would have them deal with us. • We will work to bring out the best in each other through a nurturing and supportive culture. Accountability • We are responsible to the clients we serve, the employees we work with and the communities we live in, wherever they are in the world. 3

  4. Pinnacle Background Major milestones….. Inception Growth New technology Pinnacle US founded by Pinnacle Group grown Moved to PFS- David Smith & US to $5bln+ AUA, Paxus partners. 100+funds & 25 staff technology platform. 2020 2011 2015 US sale, 2004 2014 2015 Canada buy- Goal out Have offices in Canada Pinnacle US sold to major financial large financial services centers Pinnacle Canada co- services group; founded by David Smith Pinnacle Canada and Keith Donald local management buy-out 4

  5. Scope of Services Types Jurisdictions Strategies • • Investment funds Canada • Equities • • Hedge funds United States • Fixed income/debt • • Fund of funds Bermuda • Derivatives • • Private equity Cayman Islands • Asset backed • • Managed British Virgin accounts Islands • Insurance linked • Family Office securities Management team Staggered day to Staff trained on has extensive in cover all North multiple offshore and US American time strategies funds zones 5

  6. Pinnacle Metrics Growing….. Client Servicing • Assets under Administration at 9/30/2017 - $7 Billion • # of Funds – 120 • # of Clients – 45 Headcount • 18 – Vancouver • 1 – United States Financials strong, increasing corporate governance • Profitable, consistent revenue growth, year over year • Appointed KPMG as auditors for fiscal 2016 • Enhanced senior management and executive team • SOC Type I Certification 6

  7. Strategic Aims Global expansion, controlled growth…. Global growth • Added East Coast office in 2016 • Next locations (Asia and Europe) by 2020 • Continue to enhance technology platform and operational support to clients • Target AUA of $10 billion by 12/31/2017 7

  8. Fund Services Presentation 1 4 Pinnacle Overview Working with Pinnacle 2 Pinnacle Team 5 Contact 3 6 Why Pinnacle Sample Reports 8

  9. Executive Team David Smith – Managing Director & Founder David is responsible for the delivery of fund administration services to clients and investors, the development of Pinnacle’s technology platform and operating systems and the strategic and business development of the company. Prior to founding Pinnacle, David was the founding partner of Pinnacle Fund Administration LLC in the United States, which was subsequently sold to Apex Fund Services. David commenced his career with Grant Thornton in Vancouver and then moved to Bermuda, first at Ernst & Young and then at Prime Management Limited. David is a Chartered Accountant, holds a Bachelor of Arts degree in Economics from Queen’s University and holds the Chartered Financial Analyst designation. David is the current President of CFA Society Vancouver and was awarded the CFA Institute Volunteer of the year award in 2017. He is the Treasurer of Christ Church Cathedral. Keith Donald – Managing Director & Founder Keith is responsible for providing fund administration services to clients as well as corporate strategy, compliance and human resources. Keith has over 18 years' experience in the hedge fund industry, working in Bermuda between 1998 and 2008 at KPMG and CACEIS Bermuda (previously Olympia Capital). Following his move to Canada in 2008 Keith was Chief Executive Officer of CACEIS Canada. At CACEIS, Keith was responsible for all aspects of operations, including new client integration and business development support. Keith is a member of the Scottish and Canadian Institute of Chartered Accountants, holds a Bachelor of Accountancy degree from Glasgow University, and holds the Certified Internal Auditor designation. 9

  10. Senior Management Team Anton Schmitz – Senior Manager, Operations Anton is responsible for the management of the operations team who perform hands on administration of a number of investment funds. Anton oversees Pinnacle’s operations, working to ensure quality service to all clients. He has a wealth of experience both onshore and offshore, gained with PwC from 2005 to 2016 where he was a Senior Manager leading audit and advisory teams across a number of industries. Leah Gosbee – Senior Manager Tax Leah oversees provision of fund administration services to private equity funds, tax reporting and is Pinnacle’s Controller. She has significant experience in providing Canadian tax reporting for investment trusts, corporations and partnerships and qualified as a Certified General Accountant in 2002 while employed at Berris Mangan Chartered Accountants before joining KPMG as a Senior Manager in 2011. Leah is a member of the Certified General Accountants of British Columbia and holds a Bachelor’s degree in Accounting Science from the University of Calgary. Alex Chapman – Managing Partner (Pinnacle US) Alex is the Managing Partner of Pinnacle Fund Services. Prior to Pinnacle, Alex founded the Canadian fund administration business for Apex Fund Services before relocating to the United States to become Managing Director of Apex in Canada and the United States. Prior to Apex, Alex established and managed fund administration businesses in Toronto and Monaco. Alex is a member and fellow of the Institute of Chartered Accountants in England & Wales. 10

  11. Fund Services Presentation 1 4 Pinnacle Overview Working with Pinnacle 2 Pinnacle Team 5 Contact 3 6 Why Pinnacle Sample Reports 11

  12. Why Pinnacle Quality of Senior Management • Depth of management team and quality of staff • Client focused service model – we take care of everything • Extensive experience in Canadian, US and offshore fund services • Advice / Guidance on new fund launches and operations • Complete customization and branding of all investor correspondence Tax Servicing • In-house tax expertise - ad-hoc queries, questions and guidance • ‘Dry - run’ preparation and filing prior to year end • Complete year end processing of CRA returns and investor slips Financial Statement Expertise • Senior management team are all ex accounting firm auditors • Rigorous internal review of all financial statements 12

  13. Operations and Risk Management Operations Compliance Financial Committee • • • • Key policies Executives integral E&O, D&O & key Platform for review contained in AML & part of daily man coverage of operational, Office procedures operations financial and • 100% management manuals reputational risks • Two tier review ownership • • Employees certify process Approve new client • KPMG external compliance at least acceptance forms • Risk incident auditor annually • reporting Review operational • Approved Offshore risk incident forms • SSAE16 Type II administrator • Assess risks • Business • Employee trading inherent in client continuity plans policies and base • Cyber security procedures • Review regulatory policies and legal risks 13

  14. Fund Services Presentation 1 Pinnacle Overview 4 Working with Pinnacle 2 Pinnacle Team 5 Contact 3 6 Why Pinnacle Sample Reports 14

  15. Conversion to Pinnacle The Pinnacle client service team will handle all setup and ongoing support: Client Relationship: • David Smith, CPA CA, CFA (Managing Director) Operations Review: • Anton Schmitz, CPA CA (Senior Manager, Operations) Fund Accounting: • Senior Fund Accountant, CPA CA (Or working towards) Onboarding and setup procedures • Review offering memorandums, financial statements and other governing documents • Execute agreements and set target start date • Pinnacle granted access to fund bank and custodian accounts • Setup of all investors, commitments and contact information • Pinnacle commence fund accounting and reporting 15

  16. Fund Services Presentation 1 4 Pinnacle Overview Working with Pinnacle 2 Pinnacle Team 5 Contact 3 6 Why Pinnacle Sample Reports 16

  17. Contact information David Smith www.pinnaclefundservices.com dsmith@pinnaclefundservices.com linkedin.com/pinnaclefundservices Pinnacle Fund Services 1095 West Pender Street, Suite 1130 Vancouver, BC V6E 2M6 17

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