Asset Management. A Commitment to Excellence

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1 Asset Management A Commitment to Excellence

2 Our core aspirations, which we share with our partners and customers, are deeply rooted in the culture of a group which puts excellence before its other commitments Othman BENJELLOUN Chairman of the FinanceCom Group Endeavour: we feel that we owe you this spirit of commitment, driven by an obligation to achieve results as we guide you towards Morocco s potential growth areas, in a dynamic country which acts as a bridge-head to a continent of possibilities. 2

3 Message from the Chairman It is by drawing on its dual cultural values of performance and responsibility that RMA Capital rises above its modest position as a dedicated management group. Driven by the vision of an extraordinary entrepreneur, Monsieur Othman Benjelloun, and backed by the legitimacy of a benchmark institution, heading an emerging multi-national group, RMA Capital is committed to sharing its know-how with new investors. Its leading position on the Moroccan financial markets, the confidence of renowned local and international institutional investors and an emphasis on the highest standards in the area of risk management enable it to create new diversification areas for its customers investments. All this in a spirit of confidence and shared core values. Zouheir BENSAÏD Chairman of the Management Board 3 questions Member What do you specialise in? for Reda El Alj, of the Board and CEO within the framework of a tried and tested RMA Capital is different from other asset ALM model, and are constantly looking managers because of the nature of its to improve our way of doing things. Our main activity as a specialised subsidiary of made-to-measure solutions, combined RMA Watanya, the kingdom s leading with extremely high-level evaluation and company and pillar of the FinanceCom reporting tools, provide our clients with a Group. This pedigree has led us to guarantee of an entirely transparent and develop strong and specific expertise. It competitive philosophy. Our employees are has enabled us to reach a critical mass of the key asset of our company. Thanks to assets under management. We now have a their excellent training and rich experience, license to position ourselves with domestic we can provide more comprehensive or foreign investors looking for the same information charts and operate in more high standards in terms of conditions and areas in an increasingly complex globalised management framework. environment. What are the foundations of your service quality in response to these demands? Firstly the fact that we are supported by the Group is a strong competitive advantage, representing a financial strength which is very reassuring for our customers. Then there is an innovative management model combined with strict control at every stage of the process. We are working Are the demands of financial protection compatible with the obligation to provide a return? We find this double demand stimulating! The rigour in our risk management and the innovation in our investment strategies are a winning combination guaranteeing both yield and consistency for our clients. 4

4 PROFILE After having developed its expertise for the benefit of its sole parent company, RMA Watanya, leading Moroccan insurance group, RMA Capital is now an independent subsidiary, specialising in the longterm management of assets. A major player in the Moroccan financial market, RMA Capital is responsible for the management of the company s real estate and financial asset base. It also offers a domestic, regional and European clientele proven know-how in the area of savings management and a capacity to operate on all asset classes: Listed, Non-listed, Private Equity, Fixed Income, and International. Key figures 6 billion dollars of assets under management in ,5% of the Casablanca stock market s capitalisation 45% market share of the market s equity OPCVMs THE SPECIALIST LONG-TERM ASSET MANAGER SOLVENCY II Key dates Structure s added value > Expertise in COVERED BY SEVERAL REGULATORS RMA Watanya s management of assets, implemented by RMA Capital, is in accordance with the most demanding solvency standards, anticipating Solvency II, the European regulatory reform in the insurance sector Creation of RMA Gestion, asset management subsidiary of RMA Watanya savings management > Commitment to consistent, stable, and regular yields > Unique and innovative management process Success factors > Long term vision > Diversification > Enlarged choices of assets RMA Capital is the only Moroccan fund management company whose managed funds are subject to both Moroccan and French financial regulation, since it is regulated by the Conseil Déontologique des Valeurs Mobilières (CDVM) and the Autorité des Marchés Financiers (AMF). Its operations are also supervised by Bank Al Maghrib and the body regulating the insurance and provident institutions sector, whose responsibilities include monitoring the compliance of technical and financial management of the funds collected by the insurance and capitalisation bodies. International investments must also be authorised by the Exchange Office. RMA Capital is also strengthening its capacity to operate internationally with the creation of a subsidiary in France, whose responsibilities include investment consulting. CO-INVESTMENT As part of its operations, RMA Capital implements its partnership strategy, with the capacity to act as a co-investor or through crossed stakeholdings in the dedicated funds of its clients Launch of ALM projects and deployment of management process tested internally 2007 Externalisation and creation of RMA Capital 2009 Creation of the French subsidiary RMA Capital International 6

5 AN INNOVATIVE AND SECURE management model PROCESS FLOW CHART PRODUCTS Asset & Liability Management > The reference model of asset and liability management for financial institutions, ALM s objective is to manage the balance between resources External Advisers M. Christian de Boissieu M. Mustapha Moussaoui Honorary Members of the Strategic Asset Allocation Committee Identification of the optimal strategic allocation between the various asset classes Financial Management Implementation of investment decisions, within asset class limits RMA Capital operates on all asset classes with an undisputed leading position on the Moroccan financial market and strong capacity for geographical diversification. Management of seven Moroccan registered funds, including the market s largest fund ($1bn). Management of the largest small cap fund. Launch of the first fund of funds including unlisted and foreign assets. UCIT III FUNDS Fixed Income: Local and European mono-currency products. Investment timescale: mid- to long-term Equities: Long-term management, ruling out any speculative component and their use in terms of the risks taken, taking account of the desired level of profitability and the regulatory framework. It systematically analyses the liquidity and rates risks, and guarantees compliance with the ratios imposed by the domestic Altia & Actuaris Actuarial Consultancy Practice ALM Strategic Allocation Monitoring & Reporting Control Launched at the start of 2010, two 20m funds are invested in Morocco, managed by RMA Capital by proxy. These two funds, subject to AMF regulation, meet the OPCVM harmonisation and regulation standards set out in the UCITS III European directives. Investment Solution: Structured Management, Asset-Liability Management, Strategic Allocation of Assets, Alternative Management (Funds of Funds, Co-investment) and international regulators, enabling optimal hedging Operational and Reporting operations. Study of client commitments and identification of the risks of asset / liability imbalances 8

6 THE STRENGTH OF SYNERGIES Subsidiary of a private regional group, RMA Capital acts in complete harmony with the core business of FinanceCom. It benefits from the synergies, experience and expertise of the group s other entities, the pooling of their know-how and relationships OUR VALUES Our capacity to unite talented professionals and to generate and develop innovative ideas is based on the sharing of strong and motivating values. LUXEMBOURG PARIS > INTEGRITY > Ethics > Confidence > Transparency PART OF A LEADING REGIONAL FINANCIAL GROUP CASABLANCA > DETERMINATION > Protection of Capital > Commitment > COMPETENCE > Experience > Expertise > Training programs FINANCECOM RMA Capital International > RMA Capital s new presence, via its subsidiary in Paris, makes it more local and responsive in its relationship with clients and international institutional partners. Multi-branch group, particularly present in banking sectors with BMCE Bank and insurance with RMA Watanya. Balance Sheet Total: $15 bn Assets: $15.2 bn Equity Capital: $1.1 bn Number of employees: 20,000 RMA WATANYA Leader in insurance branches in Morocco Balance Sheet Total: $20 bn Equity Capital: $1.5 bn Real Estate Assets: $254m Controls 4.5% of Casablanca stock market capitalisation Own network of 100 branches and over 500 bank branches (BMCE Bank) PRESENCE FinanceCom has developed a diversified investment platform, accessible in three countries - Morocco, France and Luxembourg - enabling RMA Capital new African investment horizons for its European and Middle Eastern clients. FinanceCom International African presence 10

7 RMA CAPITAL 83, avenue de l Armée Royale - Casablanca - Morocco Tel: +212 (0) / Fax: +212 (0) RMA CAPITAL INTERNATIONAL 3, rue Boudreau, Paris - France Tel: +33 (0) / Fax: +33 (0)

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