The All Seasons Portfolio Fund offers investors dynamic portfolio management by selecting the best performing globally diversified portfolio fund managers. The fund aims to take advantage of global investment opportunities by shifting investments between managers. The selected managers independently manage their portfolio funds within a defined risk management framework. The fund's manager, Dr. Boaz Barack, utilizes a proprietary selection process to choose top performing funds evaluated on criteria such as performance, process, people and costs. The fund aims to outperform a benchmark of 50% MSCI All Country World Index and 50% Citigroup World Government Bond Index over the long term through dynamic manager selection and risk management.

1. Dynamic Portfolio Management
by the Best Leading
Global Managers

2. Introducing Innovation
Into Traditional Banking
> The All Seasons Portfolio Fund offers a changing mix of the best
performing, globally diversified Portfolio-Fund Managers. The fund is
registered and regulated in Switzerland.
> It is a ‘one-stop-shop’ for investors to benefit from dynamic portfolio
managers’ selection, aiming to take advantage of global investment
opportunities wherever and whenever they arise, irrespective of
region.
> The selected managers are in charge of their respective portfolio-
funds under defined risk-management and compliance framework
at the administrative level of each fund.
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3. What is a portfolio fund?
> A traditional balanced portfolio fund is comprised of securities
relating to the All-Country World Index and to the World
Government Bond Index (normally in equal weighting)
> Each fund manager sets up the suitable asset allocation for his
fund’s profile, usually consisting of a strategic and tactical
asset allocation (SAA/TAA)
> Portfolio Funds represent the flag-mark product for most banks
and large asset management houses, as they are public and
publish their net asset value. In some jurisdictions
they are called Asset Allocation Funds.
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4. Example: Blackrock
Global Allocation Fund
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5. Corner-stones of the
All Seasons approach
> Proprietary Global Best Managers Selection process (BMS)
chooses the best portfolio funds
> Fund managers’ performance records are under continuous
monitoring and the respective sub-funds are subject to
periodical shifts
> Market risk-management is conducted by adjusting the fund’s
invested capital in line with changing market conditions. When
Markets’ moves call for caution the respective investment in
each of the sub-funds is reduced and adjusted accordingly
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6. Why Alternate Managers?
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Research supports the need for the best managers’ search:
Only 7.6% of the top 100 fund managers in any given year
retained that distinction the following year
(mutual-fund data over a 16-year period; S&P)

7. Best Global Managers
Selection Process (details)
> Our key indicator is the sub-fund’s performance over different
time periods giving each period a relevant respective weighting
> A rating system for managers is then conducted on
the basis of five P’s: Process, Performance, People,
Parent and Price (rules introduced by Morning Star)
> Rigorous examination of the fund’s investment strategy,
the longevity of its managers, its expense ratios
and additional relevant factors is then conducted
> A final score is finally given to each fund ranking it for possible
qualification for inclusion in our league-team of sub-funds
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8. Risk Management Approach
> Risk management considerations might dictate reduction of
the amount invested in sub-funds (vs. in cash/money market/short
term fixed income) when market conditions change
> A delicate balancing act between searching for investment
opportunities and protecting the invested capital is constantly
conducted (being on alert to change amounts of the invested capital)
> The All Seasons Portfolio Fund can, therefore, move between holding
its capital fully invested or holding smaller amounts of capital
invested into the respected sub-portfolio funds (based on the strategy
calculated judgment)
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9. The Fund Manager
Dr. Boaz Barack
MRB Vermögensverwaltungs AG, Zurich
> Dr. Boaz Barack has established a global reputation as
a leading asset manager and advisor. He retired from
UBS AG in 2014 where he was a Member of Senior Management and a Senior
Advisor to the Group. He joined UBS at 2007 from Credit Suisse where he was a
Member of Senior Management for 13 years, Head of Key Clients Desk and Market
Manager for Israel.
> Barack’s previous private asset management and risk-management company was
acquired by the Rothschild Group in 1990.
> Boaz Barack has a Ph.D. in International Law and Economics from the University of
Cambridge, England; Diploma in Common Market Business Affairs from the
European Community College in Bruges, Belgium; Diploma in International law
from the Academy of International Law in the Hague, Holland and Master degrees
in Law and Business Administration from the University of Tel Aviv, Israel. He is a
member of the Israel Bar.
> Barack is a frequent contributor of articles and interviews for the international
financial media. He published books and articles on global investment matters,
trading practices and economic developments.
He is a known speaker at business conferences
and at major banking gatherings.
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10. The All Seasons Portfolio Fund provides
a Structured Process to Tackle Behavioral Biases
Delegation of the management of your financial assets by
following a systematic approach helps to avoid common emotional pitfalls (like
Overconfidence , Home bias, Regret bias, etc.).
Delegation in this case is no longer to a single bank or a fund manger, but to
Performers. Such delegation provides the following benefits :
> Limited risk by broad diversification of investments
> Small amounts can be invested as well as large
> High liquidity since the fund’s units can always be sold
back for their current daily net asset value
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11. Achieving Excellence in Performance
by Disciplining Investment Behavior
> The All Seasons Portfolio Fund is a result of a very extensive work
done by Dr. Boaz Barack to harness behavioral finance aspects for
improving investors performance
> Barack explored such aspects for many years and developed a
detailed training method for financial managers to utilize patterns of
investors’ behavior for adjusting financial solutions to investors’
specific profiles
> For more information on this topic please write to Dr. Boaz Barack:
bob@mrbpartner.ch
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12. Performance Expectations
> The Benchmark:
MSCI All Country World Index (50%)
Citigroup World Government Bond Index (50%)
> Benchmark Performance over the last 5 years 9.15% p.a.
> Best funds performance (average annual returns )*
YTD (Nov14) 12.59%
1 Year 14.14%
3 Years 15.55%
> The All Seasons Portfolio Fund was initiated after extensive performance proof in individual clients’
accounts for over 15 years, conducted by the fund manager Dr. Boaz Barack.
* The above historical records represent the average performance of the best funds’ groups for such
periods, without additional risk-management measures as employed for the fund in real life.
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13. Performance Expectations
The Benchmarks 1/2
MSCI ACWI captures large and mid cap representation across 23 Developed Markets (DM)
and 23 Emerging Markets (EM) countries. With 2,449 constituents, the index covers
approximately 85% of the global investable equity opportunity set.
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14. Performance Expectations
The Benchmarks 2/2
The World Government Bond Index (WGBI) measures the performance of fixed-rate,
local currency, investment grade sovereign bonds. The WGBI is a widely used benchmark
that currently comprises sovereign debt from over 20 countries, denominated in a variety
of currencies, and has more than
25 years of history available.
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15. Advantages of the All Seasons Portfolio Fund
> Management of the fund alternates between portfolio fund
managers who are dynamically selected based on a proven
strategy (BMS)
> The Fund is designed specifically for a long term investment
horizon
> The Fund is also a tax efficient structure in many jurisdictions
since internal trading within the fund is not considered a tax-
event by units’ holders. In this manner the Fund offers a long-
term tax deferment benefit
> The fund offers private clients the benefit of buying institutional
tranches of the sub-funds and thus reducing operational costs
in a very substantial way
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16. Fund’s Details
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Valor Number: 25187540
ISIN: CH0251875404
FATCA-GIIN:
A52DW7.99999.SL.756
Fund Currency: US Dollar
Fund Manager
Dr. Boaz Barack
MRB Vermögensverwaltungs AG
(vgl. Ziff. 2.2)
Fund Administrators
LB(Swiss) Investment AG,
Zürich.
Custodian Bank
Bank Julius Bär & Co. AG
Bahnhofstrasse 36, CH-8001 Zürich
Auditors
PricewaterhouseCoopers AG,
Zurich
Publications
www.swissfunddata.ch
MRB Vermögensverwaltungs AG is an active member of the Swiss
Association of Asset Managers (SAAM). Additionally MRB
Vermögensverwaltungs AG is licensed by FINMA, the Swiss Financial
Market Supervisory Authority.

17. Contact Us
> Boaz Barack
bob@mrbpartner.ch
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