Portfolio Management Services - PDF Free Download

2017 / Q1

Portfolio Management Services 1 单击此处添加文字内容 ABF Absolute Return Focus Portfolio 2 单击此处添加文字内容 ABF Systematic Trading Portfolio 3 单击此处添加文字内容 ABF Dynamic Portfolio 单击此处添加文字内容 4 Gold Portfolio 5 单击此处添加文字内容 Evergreen Fund of Fund Portfolio 单击此处添加文字内容 6 CTA Portfolio 7 单击此处添加文字内容 Global Allocation Portfolio 单击此处添加文字内容 8 ABF Star Portfolio

ABF Absolute Return Focus Portfolio

ABF Absolute Return Focus Portfolio ABF Absolute Return Focus Portfolio All money will be allocated into ABF Multi Asset Strategic Segregated Portfolio (Minerva Fund Management Co. Ltd)

Minerva Fund Management Co. Ltd Minerva Fund Management Co. Ltd Established in 2011. Registered under British Virgin Islands Financial Services Commission as a fund management company. Core members of the company has been supporting the asset management of Athena Best Financial Group since 2007. Total asset under management approximately US$500 million (as at 31 December 2016). ABF Multi-Asset Strategic Segregated Portfolio. Minerva ETF Strategic Fund. Minerva Harvest Dynamic Navigator Fund.

ABF Absolute Return Focus Portfolio Launch Date 28 November, 2011 Currency USD Investment Objective The objective of this portfolio is to achieve a reasonable return over the long run with minimal volatility by investing into a globally diversified multi-asset portfolio of funds and other financial instruments. The underlying investments may invest into a wide variety of asset classes, such as equities, fixed income, commodities, currencies, futures and other alternative investments.

ABF Absolute Return Focus Portfolio Bloomberg Code Bloomberg Fund Data Screenshot ABFMASA:VI Reference Link https://www.bloomberg.com/quote/ ABFMASA:VI

ABF Absolute Return Focus Portfolio Performance Statistics (2007/01 2017/02) ABF Multi-Asset Strategic Segregated Portfolio Benchmark Index* Alpha 0.01 0.00 Beta 0.54 1.00 Standard Deviation (%) 11.02 15.72 Sharp Ratio 0.21 0.15 Correlation 0.77 1.00 *Benchmark Index: 35% MSCI World Index + 35% MSCI Emerging Markets Index + 30% Merrill Lynch Global Governments Bond Index

ABF Absolute Return Focus Portfolio Performance^ (2007/01-2017/02) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD ABF Multi-Asset Strategic Segregated Portfolio 27.11% -12.26% 23.34% 11.72% -11.75% -1.69% 2.84% 2.58% -8.10% -0.61% 0.50% Benchmark Index* 19.32% -35.18% 37.06% 9.58% -6.98% 10.63% 3.53% -0.58% -8.09% 5.85% 6.62% ^ Back Testing result before 2011 * Benchmark Index: 35% MSCI World Index + 35% MSCI Emerging Markets Index + 30% Merrill Lynch Global Governments Bond Index

ABF Systematic Trading Portfolio

ABF Systematic Trading Portfolio ABF Systematic Trading Portfolio All money will be allocated into Minerva ETF Strategic Fund (Minerva Fund Management Co. Ltd)

ABF Systematic Trading Portfolio Launch Date 15 July, 2014 Currency USD Investment Objective The fund s investment objective is to provide an absolute return to shareholders in the long run with enhanced alpha by using quantitative trading strategies on listed ETFs.

ABF Systematic Trading Portfolio Bloomberg Code Bloomberg Fund Data Screenshot MINSETF: VI Reference Link https://www.bloomberg.com/quote/ MINSETF:VI

ABF Systematic Trading Portfolio Investment Strategy Minerva ETF Strategic Fund makes its investment decision through the study of a series of market data, then used a quantitative programme to capture the turning point of the market cycle of some specified equity markets. The strategy of this fund is to capture the turning point of the market cycle of specific equity markets, not trying to make profit from intraday volatility. Therefore, this fund will not be making frequent trading. This fund emphasizes on the most macro (but also the most fundamental) cyclical movement patterns of equity markets, including money flow, buying/selling force, etc. Factors such as government policies, market sentiment, economic data will of course affect market movement, but back to basic, all market movements are simply the end result of one single factor capital flow.

ABF Systematic Trading Portfolio Performance Statistics (2006/12-2017/02) Minerva ETF Strategic Fund MSCI World Index Alpha 0.10 0.00 Beta 0.33 1.00 Standard Deviation (%) 9.82 16.70 Sharpe Ratio 1.05 0.12 Correlation 0.56 1.00

ABF Systematic Trading Portfolio Performance^ (2006/12 2017/02) ^ Back Testing result before 2012

ABF Systematic Trading Portfolio Performance^ (1996/07-2017/02) Minerva ETF Strategic Fund 1996 (7/1-12/31) 1997 1998 1999 2000 2001 2002 2003 2004 2005 8.51% 18.56% 18.86% 28.20% 7.63% 13.03% -11.59% 31.39% 0.88% 16.84% MSCI World Index 5.56% 11.16% 19.93% 25.01% -15.08% -17.26% -20.51% 31.62% 13.29% 8.83% Minerva ETF Strategic Fund MSCI World Index 18.79% 9.64% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD 13.12% 25.24% -1.81% 23.95% 25.97% -1.18% 24.67% 8.68% 5.42% -6.62% 8.80% -0.72% - 43.54% 31.52% 10.42% -9.42% 13.43% 20.25% 2.10% -4.26% 5.62% 6.41% ^ Back Testing result before 2012

ABF Dynamic Portfolio

ABF Dynamic Portfolio ABF Dynamic Portfolio All money will be allocated into Minerva Harvest Dynamic Navigator Fund (Co-managed by Minerva & Harvest )

Harvest Global Investments Harvest Global Investments Established in March 1999. Headquarter located in Beijing with 10 offices throughout China, subsidiaries in London, Hong Kong and US. One of the largest asset management company in China. Total asset under management approximately US$110 billion as at 31 March, 2017. One of the biggest Sino-foreign JVs in China (with Deutsche Asset Management). Having more than 1,000 employees in China, Hong Kong, US and London.

ABF Dynamic Portfolio Launch Date 4 January, 2016 Currency USD Investment Strategy The investment objective of the fund is to pursue a positive absolute return, to share the global economic growth and to achieve medium to long-term capital appreciation while protecting investor capital and to develop new carefully considered investment opportunities. The fund targets to generate equity like return during market uptrend, and possibly an outperformance through stock selection, while having the flexibility to overweight on fixed income or other alternative investments during bear market to reduce downside risk.

ABF Dynamic Portfolio Bloomberg Code Bloomberg Fund Data Screenshot MINHDYN:VI Reference Link https://www.bloomberg.com/quote/ MINHDYN:VI

ABF Dynamic Portfolio Investment Strategy Equity ( 40-80%) Fixed Income (20-60%) Optimization ( 0-30%) Dynamic Asset Allocation Minerva Harvest Dynamic Navigator Fund

ABF Dynamic Portfolio Investment Universe The Fund will invest in a wide range of instruments, including but not limited to: 1) Equities and equity-related securities 2) both corporate and government issued debt and short term securities 3) commodities, FX, Funds, ETFs, Options & Derivatives 4) Biased on equities Invest in developed markets through ETFs to generate beta Invest in less developed markets (e.g. Asia) through stock selection to generate alpha

ABF Dynamic Portfolio Equity Geographical Allocation 4.27% 0.19% Asset Allocation 4.29% 27.63% 23.75% 53.59% 10.53% 60.92% 11.03% 3.79% North America Europe Japan Asia Ex Japan Non-Asia EM Others Region Stock Bond ETF Cash Asset

ABF Dynamic Portfolio Performance (2016/01-2017/02) * Benchmark Index: 40% MSCI AC World + 40% MSCI Asia ex Japan + 20% BAML Global Broad Market Corporate

ABF Dynamic Portfolio Performance (2016/01-2017/02) YTD JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2017 4.18% 2.50% 2.03% 2016 2.20% -5.38% -2.41% 7.42% 0.31% -1.06% -0.02% 4.13% 1.36% 0.91% -1.85% -0.67% -1.99%

Gold Portfolio

Gold Portfolio Gold Portfolio All money will be allocated into Physical Gold (Luk Fook Jewellery)

Luk Fook Group Luk Fook Group Luk Fook was founded in 1991, by a group of experienced jewellery specialists who possess unique market sense and passion to strive for excellence. Luk Fook was listed on Hong Kong Exchanges (00590.HK) in May 1997 and is one of the leading jewellery retailers in Hong Kong and Mainland China. With a total of over 1,410 shops in Mainland China, Hong Kong, Macau, Singapore, Korea, the United States, Canada and Australia and the total number of shops located in Mainland China has rapidly grown to over 1,350 Since it s entry into China market in 1994. China Gems Laboratory Limited(CGL), established in 1996, a wholly-owned subsidiary of the Group, is the first laboratory in Hong Kong to obtain GB/T9288 accreditation in Gold Testing. In 2015, CGL obtained ISO 11426 accreditation in Gold Testing, it is now authorized to issue internationally recognized gold test reports and it is the only laboratory in Hong Kong that meets the requirements of three HKAS ISO/IEC 17025.

Gold Portfolio Launch Date 9 September, 2016 Currency USD Charge -Storage Fee: 1% per annum and will be deducted monthly -Handling Fee: up to 3% (only applicable to collecting physical gold on redemption.) Investment Objective Remarks: There may be Bid-Offer Spread on each transaction. It may be varied every time as it is subjected to the charge imposed by each Gold Dealer Gold is tradable commodities with high economic value and are considered to be rare. It is often recognized as safe investments during times of uncertainty and turmoil, providing an alternative for investing in other financial instruments. Gold is also the most recognized commodities with high investment value owing to its rarity and involvement in the industrial process. The portfolio will allocate all contribution into physical gold and clients could enjoy the benefits of this physical commodity. Moreover, along with the simple procedure of trading, clients may request to redeem and receive the physical commodity with our portfolio.

Gold Portfolio Performance (2007/01-2017/02) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD 30.90% 3.00% 27.41% 27.60% 10.87% 6.74% -28.10% 0.34% -11.57% 9.16% 6.85%

Gold Portfolio Historical Price (2007/01-2017/02)

Evergreen Fund of Fund Portfolio

Evergreen Fund of Fund Portfolio Evergreen Fund of Fund Portfolio All money will be allocated into JPMorgan Evergreen Fund (JP Morgan Asset Management )

JP Morgan Asset Management JP Morgan Asset Management Established in 1799. JP Morgan Asset Management is one of the world's largest asset managers and is the asset management division of JPMorgan Chase & Co. With a heritage of more than two centuries, a broad range of core and alternative strategies, and investment professionals operating in every major world market, JP Morgan offers investment experience and insight that few other firms can match. Having a global network of 1,700 investment professionals located in Asia and assets under management of US$1.84 trillion (as at 31 March 2017). Helping investors reach their financial goals by providing them with a broad range of professionally managed funds and the high quality of client service.

Evergreen Fund of Fund Portfolio Launch Date 2 February, 2004 Currency USD Investment Objective To seek to produce a competitive total return in different market conditions by means of an actively managed portfolio of collective investment schemes managed by the Manager, its connected parties or external parties.

Evergreen Fund of Fund Portfolio Statistical analysis (2004/02-2017/02) 3years 5years Since launch Standard Deviation (%) 7.50 7.56 8.93 Sharpe Ratio 0.08 0.43 0.41 Average Annual Return (%) 0.92 3.49 5.23

Evergreen Fund of Fund Portfolio Performance (2004/02-2017/02) 2010 2011 2012 2013 2014 2015 2016 YTD JPMorgan Evergreen Fund 10.70 % -6.00 % 8.40 % 14.00% -0.20 % -1.50% 1.12% 3.90%

CTA Portfolio

CTA Portfolio CTA Portfolio All money will be allocated into Man AHL Diversified Futures Ltd (Man Investments)

Man Investments Man Investments MAN Investments is one of the largest listed hedged fund company in the world Trading since 1783 and 25 years of experience in alternative investments USD 80.9 billion assets under management (as at 31 March 2017) Headquarters in London with offices in every major region Global footprint a powerful distribution network that serves a highly-diversified and global client base Constituent of the FTSE 250 Index (UK:EMG)

CTA Portfolio Launch Date 13 May, 1998 Currency USD Investment Objective Man AHL Diversified Futures Ltd seeks to achieve substantial medium-term capital growth while aiming to restrict the associated risk.

CTA Portfolio Investment Strategy Man AHL Diversified Futures Ltd is a futures and options fund and will invest, without limitation, into sectors including stocks, bonds, currencies, interest rates, energies, metals, credit and agriculturals. It will make extensive use of financial derivative instruments ( FDIs ) including but not limited to futures, options and interest rate swaps, and may utilise over-the-counter (OTC) derivatives. This fund may use long or short investment strategies. FDIs can be highly volatile and will expose investors to leverage risk. Leverage has the effect of potentially magnifying losses and could result in the value of the fund decreasing substantially.

CTA Portfolio Performance Statistics (1998/05-2017/02) Man AHL Diversified Futures Ltd Annualized Return (%) 7.34 Standard Deviation (%) 14.25 Sharpe Ratio 0.35 Worst Drawdown (%) -29.40 Total Return (%) 279.40

CTA Portfolio Performance (1998/05-2017/02)

CTA Portfolio Historical Performance (1998/05 2017/02) 1998 1999 2000 2001 2002 2003 2004 2005 2006 Man AHL Diversified Futures Ltd 21.40% 3.62% 18.36% 15.58% 9.76% 19.43% 4.57% 16.19% 5.36% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD Man AHL Diversified Futures Ltd 18.04% 24.93% -16.41% 11.63% -9.21% -6.29% -6.18% 30.20% -2.03 % -7.44% 1.31%

Global Allocation Portfolio

Global Allocation Portfolio Global Allocation Portfolio All money will be allocated into BlackRock Global Allocation Fund (BlackRock Asset Management )

BlackRock Asset Management BlackRock Asset Management Founded in 1988, BlackRock is the world's largest asset manager The headquarter is located in New York A global firm with 135 investment teams, 60 offices in 30 countries and clients in 100 countries Total asset under management approximately US$5.1 trillion as at 31 March, 2017 At the end of 2014, 65 percent of Blackrock's assets under management were from institutional investors. Having more than 13,000 employees around the world Managing over than 7,700 portfolios

Global Allocation Portfolio Launch Date 3 January, 1997 Currency USD Investment Objective The fund seeks to maximize total return and invests globally in equity, debt and short term securities, of both corporate and governmental issuers, with no prescribed limits. In normal market conditions the Fund will invest at least 70% of its total assets in the securities of corporate and governmental issuers. The Fund generally will seek to invest in securities that are, in the opinion of the Investment Adviser, undervalued. The Fund may also invest in the equity securities of small and emerging growth companies. The Fund may also invest a portion of its debt portfolio in high yield fixed income transferable securities. Currency exposure is flexibly managed.

Global Allocation Portfolio Performance (1997/01 2017/02)

Global Allocation Portfolio Performance (2005/01 2017/02) 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD BlackRock Global Allocation Fund Benchmark Index* 8.50% 14.30% 15.20% -22.90% 22.20% 8.50% -4.31% 8.02% 13.98% 1.60% -2.27% 3.24% 3.43% 4.20% 13.80% 10.30% -21.90% 19.20% 11.10% 0.77% 10.80% 13.67% 4.17% -0.78% 6.06% 3.73% *Benchmark Index: 36% S&P 500 Composite + 24% FTSE World (ex-us) + 24% 5 Year US Treasury Note+ 16% Citigroup Non-USD World Government Bond Index

Global Allocation Portfolio Award Winnings Best-in-Class Awards 2014 CHF Moderate Allocation Bloomberg Businessweek Best Fund Over 10 Years 2012,2015 Mixed Asset USD Balanced(Global) Lipper

ABF Star Portfolio

ABF Star Portfolio 20% 20% 20% 20% 20% ABF Absolute Return Focus Portfolio ABF Systematic Trading Portfolio ABF Dynamic Portfolio CTA Portfolio Global Allocation Portfolio ABF Star Portfolio

ABF Star Portfolio ABF Star Portfolio A combined portfolio with diversified strategy among the portfolio managers in Metis platform This portfolio will allocate the assets equally into the following 5 portfolios: ABF Absolute Return Focus Portfolio ABF Systematic Trading Portfolio ABF Dynamic Portfolio CTA Portfolio Global Allocation Portfolio

ABF Star Portfolio Launch Date 4 January, 2016 Currency USD Investment Objective To take advantage of the characteristics of different portfolios in Metis platform and provide capital appreciation to clients in the long run.

ABF Star Portfolio Performance^ (2007/01 2017/02) The other 5 portfolios contribute 20% each for the result stated below. ABF Absolute Return Focus Portfolio 20% ABF Dynamic Portfolio 20% CTA Portfolio 20% ABF Systematic Trading Portfolio 20% Global Allocation Portfolio 20% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD ABF Star Portfolio 20.94% -3.91% 11.66% 15.42 % -6.02 % 7.58% 5.63% 8.48 % -4.73 % 0.81% 2.23% ^Back Testing Period: 1st Jan 2007 31st Dec 2015 Back Testing Portfolio: 25% ABF Absolute Return Focus Portfolio + 25% ABF Systematic Trading Portfolio + 25% Global Allocation Portfolio + 25% CTA Portfolio

Positioning of Each Portfolio

Positioning of Each Portfolio Clientele ABF Absolute Return Focus Portfolio look for diversified assets and stable performance in the long run look for fund of fund portfolio ABF Systematic Trading Portfolio look for absolute return of the portfolio in the long run ABF Dynamic Portfolio look for more aggressive portfolio management under a big brand name in Asia Gold Portfolio look for goldrelated investment in the long run Evergreen Fund of Fund Portfolio look for big brand name with stable performance and diversified assets do not mind the underlying portfolio is focused at the single asset manager CTA Portfolio look for alternative / hedged fund strategy and able to accept volatile performance look for positive return no matter the market is good or bad Global Allocation Portfolio look for global brand name on portfolio management look for diversified portfolio with stable performance in the long run Look for portfolio more focus in North America and Europe Risk Level Medium-High Medium-High High Medium-High Medium High Medium High ABF Star Portfolio look for the combination of different portfolios in Metis platform do not know what kinds of portfolio they really need

Performance of Portfolios

Positioning of Each Portfolio Accumulated Return ABF Systematic Trading Portfolio Gold Portfolio Global Allocation Evergreen Portfolio Fund of Fund Portfolio ABF Star Portfolio ABF Absolute Return Focus Portfolio CTA Portfolio ABF Dynamic Portfolio Risk Remark :The risk and return performance data above are for reference only. Past performance is not necessarily a guide to future performance.

Q & A

THANKS Metis Global Limited