TOP 25 S
                          Made for every market trend




         FPM DEUTSCHE INVESTMENTAG TGV

As at: October ...
TOP 25 S




Combination stockpicking / market timing

 Product idea
 First external managed investment stock corporation ...
TOP 25 S




Investment guidelines

               The TOP 25 S aims to generate a positive return and targets a
         ...
TOP 25 S




FPM-Market-Indicator

 The management of the market risk alignment by derivatives occurs under
 requirement o...
TOP 25 S FPM-Market-Indicator




Methodology

 Retrieve new trends in all markets and their impact of the German equity m...
TOP 25 S FPM-Market-Indicator




Sentiment
      On to one meetings
      In the current year we had 287 personal meeting...
-150%
                                                                                                                    ...
Monatliche Durchschnittswerte
Investitionsgrad / VAR (1Y Hist 99% 2 Weeks)
105%
100%
95%
90%
85%
80%
75%
70%
65%
60%
55%
5...
TOP 25 S




Risk management

 Daily:
                Transaction list
                Best execution and review of broker...
TOP 25 S




Comparison with other strategies

 We chose the following equity-products to compare the TOP 25 S strategy:

...
TOP 25 S Comparison with other strategies




  Convincing performance

60 %                                              ...
TOP 25 S




Overview
 Funds category:           Equity Funds Europe (UCITS III)
 Distribution policy:      distributed
 F...
TOP 25 S




Fondsmanager TOP 25 S

                                   FPM Frankfurt Performance Management AG


         ...
Contact




Contact us


FPM Frankfurt Performance Management AG
Freiherr-vom-Stein-Str. 11
60323 Frankfurt am Main
      ...
TOP 25 S

Hinweise / Disclaimer:


–      The information contained in this document does not constitute investment advice...
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Presentation Top 25 S

  1. 1. TOP 25 S Made for every market trend FPM DEUTSCHE INVESTMENTAG TGV As at: October 23, 2009
  2. 2. TOP 25 S Combination stockpicking / market timing Product idea First external managed investment stock corporation (UCITS III) for the retail market under German law. Motivated through the idea of developing a competitive product in contrast to leveraged passive instruments. Target Combination of our successful stockpicking with an active overlay management with the target to participate in every market situation. Start September 24, 2008; 9 days after Lehman-Brothers bankruptcy FPM DEUTSCHE INVESTMENTAG TGV 2 As at: October 23, 2009
  3. 3. TOP 25 S Investment guidelines The TOP 25 S aims to generate a positive return and targets a significant outperformance relative to Germany’s DAX-Performance- Index ®. Investment universe: Germany, Austria und Switzerland Category: Equity funds Europe 25 stocks Systematic stop-loss Derivatives strategy according to the FPM-Market-Indicator The derivative strategy can cause a market contrarian, a leveraged or a neutral positioning of the TOP 25 S. Due to its composition and the techniques applied by its fund management, the TOP 25 S is subject to markedly increased volatility, which means that the price per share may be subject to substantial upward or downward fluctuation, even within short periods of time. FPM DEUTSCHE INVESTMENTAG TGV 3 As at: October 23, 2009
  4. 4. TOP 25 S FPM-Market-Indicator The management of the market risk alignment by derivatives occurs under requirement of the in-house FPM-Market-Indicator, which aims to distinguish future market trends. Components – Technical indicators, changes of macro data and correlations to historical market trends – Sentiment through regular on-site meetings with companies‘ management. We analyse sentiment and evaluations of the company management. FPM DEUTSCHE INVESTMENTAG TGV 4 As at: October 23, 2009
  5. 5. TOP 25 S FPM-Market-Indicator Methodology Retrieve new trends in all markets and their impact of the German equity market. Impacts of changes of economic data. Continuous analysis of dependency between all asset classes. Bond and debt markets: interest rates, credit-spreads Commodities: input prices, margins, supply and demand, storage- and carrying costs Currencies: actually and expected changes Real estate: prices for commercial- and residential property Evaluation of the monthly reports published by Deutsche Bundesbank Historical correlation measurement of the prime equity markets to deduce a possible market behavior for the future. FPM DEUTSCHE INVESTMENTAG TGV 5 As at: October 23, 2009
  6. 6. TOP 25 S FPM-Market-Indicator Sentiment On to one meetings In the current year we had 287 personal meetings with 139 companies. FPM DEUTSCHE INVESTMENTAG TGV 6 As at: October 23, 2009
  7. 7. -150% -125% -100% -75% -50% -25% 0% 25% 50% 75% 100% 125% 150% TOP 25 S 27.10.2008 03.11.2008 10.11.2008 17.11.2008 24.11.2008 01.12.2008 08.12.2008 As at: October 23, 2009 15.12.2008 22.12.2008 - Cash 29.12.2008 05.01.2009 12.01.2009 19.01.2009 26.01.2009 - Shares 02.02.2009 09.02.2009 16.02.2009 23.02.2009 02.03.2009 09.03.2009 16.03.2009 23.03.2009 30.03.2009 06.04.2009 broker commissions kept very low. - Investment degree 13.04.2009 20.04.2009 27.04.2009 04.05.2009 FPM DEUTSCHE INVESTMENTAG TGV 11.05.2009 18.05.2009 25.05.2009 01.06.2009 08.06.2009 15.06.2009 22.06.2009 29.06.2009 06.07.2009 13.07.2009 Historical investment degree 20.07.2009 27.07.2009 03.08.2009 10.08.2009 17.08.2009 24.08.2009 31.08.2009 07.09.2009 14.09.2009 21.09.2009 28.09.2009 05.10.2009 12.10.2009 19.10.2009 26.10.2009 The portfolio is due to the active management transaction intensive, with 0% 25% 50% 75% -75% -50% -25% 100% 125% 150% -150% -125% -100% 7
  8. 8. Monatliche Durchschnittswerte Investitionsgrad / VAR (1Y Hist 99% 2 Weeks) 105% 100% 95% 90% 85% 80% 75% 70% 65% 60% 55% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% Avg InvGrad mtl -25% Avg VAR mtl -30% Okt 08 Nov 08 Dez 08 Jan 09 Feb 09 Mrz 09 Apr 09 Mai 09 Jun 09 Jul 09 Aug 09 Sep 09 Okt 09 Nov 09 Dez 09 FPM DEUTSCHE INVESTMENTAG TGV 8 As at: October 23, 2009
  9. 9. TOP 25 S Risk management Daily: Transaction list Best execution and review of broker’s transactions Risk measurement (e.g. value at risk) Monthly: Stress tests Performance attribution analysis All legal risk controls are daily managed by DWS Investment GmbH and State Street Bank GmbH. Performance attribution- and risk analysis are monthly done by DPG (Deutsche Performancemessungs-Gesellschaft für Wertpapierportfolios mbH). FPM DEUTSCHE INVESTMENTAG TGV 9 As at: October 23, 2009
  10. 10. TOP 25 S Comparison with other strategies We chose the following equity-products to compare the TOP 25 S strategy: DB X-Tracker Short DAX ETF (Ranked no. 1 equity funds Germany in 2008) ISIN LU0292106241 FPM Funds Stockpicker Germany ALL-Cap (Ranked no. 1 equity funds Germany in current year 2009) ISIN LU0124167924 DWS Europa Innovation (Ranked no. 1 equity funds Europe in current year 2009) ISIN DE0005152409 DAX-Performance-Index ® Benchmark for the TOP 25 S FPM DEUTSCHE INVESTMENTAG TGV 10 As at: October 23, 2009
  11. 11. TOP 25 S Comparison with other strategies Convincing performance 60 % TOP 25 S 55 % Performance As at DB X-Tracker Short DAX 50 % since 25.09.2008 30.09.2009 FPM Funds Stockpicker Germany All-Cap 45 % 40 % DWS Europa Innovation 35 % Deutscher Aktienindex DAX TOP 25 S + 24.12% 30 % 25 % 20 % 15 % 10 % DAX Short ETF - 9.46% 5% 0% -5 % FPM Funds -10 % Stockpicker + 11.33% -15 % -20 % All-Cap -25 % -30 % -35 % DWS Europa + 0.33% -40 % -45 % Innovation -50 % Sep. 08 Okt. 08 Nov. 08 Dez. 08 Jan. 09 Feb. 09 Mrz. 09 Apr. 09 Mai. 09 Jun. 09 Jul. 09 Aug. 09 Sep. 09 Okt. 09 DAX- Performance- - 6.65% In 8 out of 13 months the TOP 25 S has outperformed the DAX-Performance-Index ®. Index ® FPM DEUTSCHE INVESTMENTAG TGV 11 As at: October 23, 2009
  12. 12. TOP 25 S Overview Funds category: Equity Funds Europe (UCITS III) Distribution policy: distributed Front-end-load: up to 5% Management fee : 1.75% p.a. (plus success-related fee of 20% of the amount by which the increase in value of TOP 25 S exceeds the performance of the DAX-Performance- Index ®) TER: 3.48% for the shortened financial year 24.09.2008 -31.03.2009 (means approx. 1.9% p. a.) ISIN: DE0005152540 Benchmark: DAX-Performance-Index ® Last Dividend: May 11, 2009: 3.00€ (tax free) FPM DEUTSCHE INVESTMENTAG TGV 12 As at: October 23, 2009
  13. 13. TOP 25 S Fondsmanager TOP 25 S FPM Frankfurt Performance Management AG Thomas F. Seppi Member of the managing board Responsible fund manager, Management of derivative strategy Manfred Piontke und Martin Wirth Members of the managing board and founder Responsible fund manager, Share selection / Stockpicking FPM DEUTSCHE INVESTMENTAG TGV 13 As at: October 23, 2009
  14. 14. Contact Contact us FPM Frankfurt Performance Management AG Freiherr-vom-Stein-Str. 11 60323 Frankfurt am Main Markus Dahlheimer Phone: +49 (69) 79 58 86 – 27 Fax: +49 (69) 79 58 86 – 14 Thomas Dinges E-Mail: fpm-funds@fpm-ag.de Internet: www.fpm-ag.de www.FPM-Deutsche-InvestmentAG.de Tina Hofmann FPM DEUTSCHE INVESTMENTAG TGV 14 As at: October 23, 2009
  15. 15. TOP 25 S Hinweise / Disclaimer: – The information contained in this document does not constitute investment advice and is merely a brief summary of key aspects of the funds. Further details, especially concerning the fund’s composition and risk profile, can be found in the investment information. Full details of the funds can be found in the simplified or full sales prospectus, supplemented in each case by the most recent audited annual report and the most recent half-year report, if this report is more recent than the most recently available annual report. These documents constitute the sole binding basis for the purchase of fund units. They are available free of charge in either electronic or printed form from FPM Frankfurt Performance Management AG (FPM AG), Freiherr-vom-Stein-Str. 11, 60323 Frankfurt am Main, from DWS Investment GmbH, Mainzer Landstraße 178 – 190, D- 60327 Frankfurt am Main or from DWS Investment S. A., 2, Boulevard Konrad Adenauer, L-1115 Luxemburg. The sales prospectus contains detailed information on the risks involved. – The information given here is based on our assessment of the current legal and tax position. All opinions given in this product information reflect the current assessment of FPM Frankfurt Performance Management AG which may change without notice. In cases where information contained in this document derives from third parties, FPM AG accepts no liability for the accuracy, completeness or appropriateness of such information, also FPM AG only uses data that it deems to be reliable. – Calculation of performance is based on the time-weighted return (BVI method) and excludes initial charges. Individual costs such as fees, commissions and other charges have not been included in this presentation and would have an adverse impact on returns if they were included. Past performance is not a reliable indicator of future returns. Further information on taxation can be found in the simplified and full sales prospectuses. – The units under these funds may only be offered for purchase or sold in jurisdictions in which such offer or sale is permitted. – The units in these funds are not allowed to be offered for purchase or sold either in the US or to or for the account of US citizens or US persons domiciled in the US. This document and the information contained therein must not be distributed in the US. The distribution and publication of this document as well as the offering or sale of the fund’s units may be subject to restrictions in other jurisdictions as well. FPM Deutsche InvestmentAktiengesellschaft mit Teilgesellschaftsvermögen is an investment stock corporation with registered office in Frankfurt/Main. It is registered at the Commercial Register of Local Court of Frankfurt/Main under HRB 83834. Solely purpose of the company is the investment and management of its own funds in keeping with the principle of risk-spreading in assets with the sole objective being to give the shareholders a share of the income from the management of the Investment Stock Corporation‘s assets. Members of the supervisory board are: Markus Dahlheimer, Holger Naumann and Jens Große-Allermann. Members of the board are: Dorothee Wetzel and Thomas F. Seppi. FPM DEUTSCHE INVESTMENTAG TGV 15 As at: October 23, 2009

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