The document outlines a three step process for choosing securities for an investment portfolio: Step 1 involved qualitative and quantitative market analysis to understand attractive markets and diversification, shortlisting 10 potential markets. Step 2 calculated average returns over 10 years for FTSE 100 companies within those markets, analyzing the top 12 earners and their prospects. Step 3 combined market correlation, returns data, and research to select the final portfolio of Randgold, ICAP, British American Tobacco, and Reckitt Benckiser and Tullow.

1. A three step guide of the process we went through to choose securities that make up your portfolio…

2. Introduction This brief presentation highlights how we have sought to achieve the following objectives: minimise risk in the form of standard deviation and coefficient of variation whilst creating a portfolio that provides healthy levels of return

3. Step 1: Market Analysis Qualitative analysis: Prior to choosing the 5 securities that will make up this portfolio offering, high level market research and analysis was conducted in order to understand attractive markets to invest in and those to avoid Quantitative analysis: We also sought to understand which markets performance are highly correlated in order to highlight market combinations that should be avoided in order to diversify our portfolio)

4. Tobacco Metallurgy Pharmaceuticals Household Chemicals Media Telecommunications IT Real Estate/Finance Oil and Natural Gas Step 1: Output Our market research led us to short list the following 10 potential markets :

5. Step 2: Security Analysis In order to prioritise the potential securities on the FTSE 100, average real return levels were calculated for the last 10 years and company analysis was undertaken to determine the health of the company and future prospects

6. Step 2: Output Randgold Resources - Metallurgy Tullow Oil – Oil & Natural Gas Cairn Energy – Oil & Natural Gas ICAP - Finance Antofagasta - Mines BHP Billiton - Mines British American Tobacco - Tobacco Man Group - Finance BG Group – Oil & Natural Gas Reckitt Benckiser - Chemicals Imperial Tobacco - Tobacco Amec - Services Having calculated the real returns, this produced the following companies as the top 12 earners in terms of average real return over the last ten years.

7. Step 3: Choosing securities Initial market correlations and average real returns were ranked and combined with market and company research resulting in the following securities being chosen: Randgold ICAP British American Tobacco Reckitt Benckiser Tullow