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  • 1. Cheviot Asset Management New Model Adviser Retreat 8 th /9 th Sept, 2011
  • 2. IFA Client Brackets – Pre 2007 £250k £1m Tilney (Deutsche Bank) Newtons Quilters Rensburg (Investec) 7IM L&C (UBS) Gerrards (Barclays) Originally for Clients >£250k
  • 3. DFM Industry – 2008 to 2011 7IM Quilters Rensburg (Investec) £250k £1m Tilney (Deutsche Bank) Newtons L&C (UBS) Gerrards (Barclays) ? Cheviot Asset Management
  • 4. IFA Requirements
    • RDR Hurting
      • Costs
      • Time
      • Compliance
      • Profitability
    • Client Segmentation
      • TCF
      • Repeatable Investment Process
  • 5. DFM Offerings NOT AVAILABLE NOT AVAILABLE CHEVIOT PRIMARY SERVICE Cheviot Ancillary Service Cheviot Ancillary Service DFM MODEL PORTFOLIOS DFM PORTFOLIO OEICs FACE TO FACE PERSONAL DFM CLIENT HELD 3RD PARTY PLATFORMS DFM NOMINEE £1k £50k £250k
  • 6. Cheviot USPs
    • ‘ Proper’ Full Discretionary Management
      • Personal Service (not centralised management)
      • Bespoke Portfolios (not model portfolios)
    • Strong Direct Equity Specialisation
      • Expertise not restricted to collectives
    • Consistent and repeatable investment process
    • Matching Strategies for lower client segments
      • Model Portfolios on third party platforms from £50k
      • Portfolio OEICs
    • Dedicated to IFA market
      • Genuine deference to IFA/Client relationship
    • Full strategic support for Partner IFAs
      • Co-branding
      • Full access to Cheviot research
      • Training/Compliance/Marketing support
  • 7. What has driven investment returns over the last generation? Source: JC Economics
  • 8. What has driven investment returns over the last generation? Source: JC Economics
  • 9. The dilemma of volatile investments
    • Brave New World
      • debt crisis
      • printing of money
      • west v. east
    • Investment valuations radically different
    • Flexibility and liquidity key whilst sentiment remains volatile
    • Dynamic asset allocation
  • 10. Gold – a missed opportunity? Dislocation in gold equity and gold price – opportunity
    • Ideas in action
    • Identifying opportunities
    • In house precious metals
    • expertise
    • Valuations anomaly
    • Implementation
  • 11.
    • Safeguard “real” capital value via combination of
      • Index Linked Bonds
      • Quality Corporate Bonds
    • Grow income via equity investment
      • Companies with strong balance sheets
      • Reliable and growing dividends
    • Diversified equity market exposure
      • Economies where debt levels are less threatening
      • Where there is economic growth or a better chance of recovery
    Investment action
  • 12. ARC Contributing Fund Managers We subscribe to the performance monitoring service provided by Asset Risk Consultants (ARC), an independent investment consultancy firm who deliver impartial performance comparators for the financial services industry
  • 13. ARC Quartile Rankings Inception* to 2011
    • Over the 3 years to June 2011, the Cheviot Conservative portfolio delivered top quartile returns
    • Over the 3 years to June 2011, the Cheviot Balanced portfolio delivered top quartile returns
    • Over the 3 years to June 2011, the Cheviot Growth portfolio delivered above average returns
    *March 2007
  • 14. Why Cheviot?
    • Personal, tailored, client facing service covering for realistic portfolio sizes
    • Full range of support services for Strategic Partners
    • Consistent and repeatable investment offering for all client segments
    • Flexibility to adapt to IFA/Client needs
    • Tactical, Dynamic, Diversified
    • Investment strategy driven by client facing Investment Managers
    • Top Quartile Performance
    • Independently Measured
    • Competitive, Clean, Transparent
    Serving the IFA Holistic Offering Robust Investment Strong Performance Competitive Pricing
  • 15. Any Questions?
  • 16. Disclaimer
    • This material has been prepared by Cheviot Asset Management which is authorised and regulated by the Financial Services Authority. It has no regard to the specific investment objectives, financial situation or particular needs of any recipient. It is published solely for informational purposes and is not intended to be a complete statement or summary of the securities, risks, markets or developments referred to in the material
    • Any opinions expressed in this material are subject to change without notice and may differ or be contrary to opinions expressed by other business areas of Cheviot as a result of using different assumptions and criteria
    • The Hedge Fund, Private Equity, Commodity and Property asset classes should be regarded as long term investments, as the underlying investments may not be freely marketable
    • ARC Private Client Indices (PCI) are based on historical information and past performance is not indicative of future performance. PCI are computed using a complex calculation and the results are provided for information purposes only and are not necessarily an indicator of suitability for your specific investment or other requirements. ARC does not guarantee the performance of any investment or portfolio or the return of an investor’s capital or any specific rate of return. ARC accepts no liability for any investment decision made on the basis of the information contained in this report. You should always complete your own analysis and/or seek appropriate professional advice before entering into an agreement with any PCI Data Contributor. The content is the property of ARC or its licensors and is protected by copyright and other intellectual property laws. Use of the information herein is governed by strict Conditions of Use as detailed on www.assetrisk.com/pci
    July 2011