PORTFOLIO MANAGEMENT AT BCEE

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1 PRIVATE BANKING PORTFOLIO MANAGEMENT AT BCEE

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3 Contents BCEE in brief 5 Your needs 7 Discretionary Portfolio Management 9 The philosophy 10 Attentive to your needs 12 Our skills at your service 13 Customised reporting 15 Advisory Portfolio Management 17 A close partner 18 3

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5 BCEE in brief Unrivalled experience Founded in 1856, Banque et Caisse d Epargne de l Etat (State and Savings Bank, Luxembourg (BCEE)) has constantly worked to meet the high expectations of its customers. As a universal bank, BCEE is one of the leading financial service providers, both in its home market and internationally. Its links with its sole shareholder, the Luxembourg State, whose political and financial stability is exemplary, guarantee maximum security and discretion. Globally recognised financial solidity Since 1994, BCEE has been rated AA+ and Aa1, respectively, by international rating agencies Standard & Poor s and Moody s, which is the highest rating assigned to any Luxembourg financial entity. This rating reflects the bank s excellent credit quality and ranks it among the 20 most strongly rated banks in the world. BCEE has total assets of more than EUR 37 billion, nearly 1,700 employees and the largest network in Luxembourg with a total of 80 branches. 5

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7 Your needs We live in a fast-changing and increasingly complex world particularly in the area of finance. It is therefore of utmost importance to be able to count on a skilled and trustworthy partner with long experience, to: help you choose the right investment formula; look after the daily management and monitoring of your investments; benefit from the advice of a team of analysts that monitors market trends closely; avail of the most up-to-date management tools; keep you regularly informed of the situation of your assets and provide structured and detailed financial reports; remain attentive to your needs in terms of banking products and services. Wishing to be more than merely a partner for your financial investments, and above all to provide you with a tailored solution that satisfies your personal needs while benefiting from the skills of an expert, BCEE s Private Banking department offers you a customised Portfolio Management service. BCEE offers a choice of two management formulas: Discretionary Portfolio Management Advisory Portfolio Management 7

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9 Discretionary Portfolio Management The financial environment has become complex. Marked, by increased volatility, more sophisticated financial instruments as well as more abundant and accessible financial news, the investor risks losing track of the global situation of the financial markets. Therefore, nothing could be more natural than to call on the know-how of an expert in the field. By entrusting the management of your assets to BCEE, you ensure that your capital is managed by specialists in accordance with your instructions. With a long experience in the field of market analysis, BCEE can put its expertise at your service, help you determine your investor profile and put together an investment portfolio adapted to your needs and objectives. 9

10 Discretionary Portfolio Management The philosophy When you choose discretionary management, you entrust BCEE with the daily management of your assets. The bank will draw on all its know-how to choose the investments best suited to the economic situation while respecting your individual requirements as defined in the contractual agreement. The financial analysts decide the asset allocation in close collaboration with the asset management advisors. Asset allocation is essentially based on the main stock market indices, whose sector and geographic composition is a key factor in constructing the portfolios. In addition to regular monitoring of the global economy, particular attention is paid to market forecasts and, in particular, to their impact on the various asset classes (money market investments, bonds, shares, etc.) included in the portfolio. Constant care is taken to limit risk through appropriate asset diversification. The investment strategy chosen is reviewed regularly and whenever market trends require to do so. 10

11 Defining the investment objectives Assessing investment constraints and tolerance to risk Determining the appropriate investment strategy Financial analysis of the capital markets Estimating return, determining asset classes and selecting investments Composition of portfolio Performance Reporting 11

12 Attentive to your needs Defining the objectives Assessing investment constraints and tolerance to risk Determining the appropriate investment strategy During a personal meeting with one of our asset management advisors, a medium- and long-term investment strategy that respects your personal needs, risk profile and objectives will be drawn up prior to any financial investment. Once the strategy has been chosen, a discretionary asset management agreement will be entered into by the two parties. 12

13 Discretionary Portfolio Management Our skills at your service Financial analysis of the capital markets Estimating return, determining asset classes and selecting investments Composition of portfolio If you choose to entrust BCEE with a discretionary management mandate, you no longer need to worry about the day-to-day management of your assets. The Bank will monitor and manage your investments for you. You can rely on analysts at BCEE s service to use their expertise to select the best investments for your portfolio. Moreover, you need no longer follow financial market trends so closely as the analysts will do it for you. The portfolio is reviewed regularly to ensure that it continues to comply with the objectives defined and the opportunities offered by the markets. 13

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15 Discretionary Portfolio Management Customised reporting Performance Reporting You wish to be kept informed at all times of the situation of your portfolio and the performance achieved. Nothing could be easier. Your asset management advisor will be happy to provide you with a full report at your request. This report notably includes a detailed and up to date assessment of your portfolio and the performance achieved as well as a transaction history. 15

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17 Advisory Portfolio Management Advisory Portfolio Management is the solution for experienced investors who wish to give a personal slant to their portfolio by taking an active part in the investment decision process. The factors used to assess the financial markets are the same as those used in discretionary management. You are free to choose the type of financial instruments included in your portfolio. You can therefore choose to invest in mutual funds or in individual securities. With the support of BCEE s recommendations, you can build a portfolio tailored to your needs. Based on the composition of your portfolio and market trends, the asset management advisors will keep you informed about any events that could affect the performance of your investments, and suggest appropriate changes. You are the one to take the final investment decision. You therefore need to monitor trends and events in the financial markets. You also benefit from significant reductions in securities transaction fees, fund subscription fees as well as free custody of your securities accounts. 17

18 A close partner We have presented two highly customised portfolio management options and we hope you are interested in this upmarket investment solution. Contact details Our experts are at your entire disposal. Do not hesitate to contact our Private Banking department at the BCEE head office in Luxembourg: by telephone: (352) by fax: (352) by by post: BCEE, Luxembourg Private Banking/Portfolio Management 16, rue Zithe L-2763 Luxembourg 18

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20 Banque et Caisse d Epargne de l Etat, Luxembourg Etablissement Public Autonome Siège Central: 1, Place de Metz L-2954 Luxembourg BIC: BCEELULL R.C.S. Luxembourg B /06