Event Driven Fund of Hedge Funds Seeking for Independence From Rising Long-Term Interest Rates

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1 Event Driven Fund of Hedge Funds Seeking for Independence From Rising Long-Term Interest Rates Stéphane Gutzwiller François Gutzwiller Q Investment styles Merger arbitrage Distressed securities Special Situation Investment Targets Target funds aggregate low leverage Events can be quantified Umbrella Structure with Sub-Funds in USD / CHF

2 Gutzwiller Fonds Management AG is the institutional investment arm of E. Gutzwiller & Cie, Banquiers. GFM focuses on a few but highly qualified products that reflect the quality and conservative approach of the Bank. We provide investment management solutions to the finest financial institutions around the world. Our clients include some of the world's finest financial institutions, mutual funds and Family offices. The team manages 5 open-ended funds and provides asset management services for in-house funds of E. Gutzwiller & Cie, Banquiers. It is a Swiss domiciled asset management company incorporated in 2001 in Basel. GFM s capital is owned by E. Gutzwiller & Cie, Banquiers (1886), one of the founding members of the Swiss Private Bankers Association. The four partners of E. Gutzwiller & Cie, individually and collectively, are personally liable for the firm s obligations. The company is regulated by the Swiss Financial Market Supervisory Authority (FINMA). 1

3 For The Last 14 Years, Gutzwiller TWO Has Delivered A Low Volatility Return Gutzwiller TWO (USD) US T N & B 0-1Y S&P Since Inception YTD Rolling 3 Years Rolling 5 Years Performance Total Return p.a Return p.a Volatlity Return p.a Volatlity Gutzwiller TWO US TN & B 0-1 Year S&P (As of end September 2015) Return figures are net. Past performance is no guarantee of future returns. The performance shown does not take account of any commission and cost charged when subscribing and redeeming units. 2

4 Achieving Capital Preservation Through Widely Varying Economic Cycles Returns During Negative Markets 5% 0% 5% 10% 15% Gutzwiller TWO (USD) S&P % (As of end of September 2015) Event Driven is: Fairly conservative Not dependent on the evolution of the stock market but on event realization Seeks performance with a low correlation to the stock indices Consistent and Absolute return 3

5 Strategy Objective Approach Competitive Advantage Risk Management Fiscal Gutzwiller TWO is a fund of funds, investing in event-driven hedge funds Combines Merger Arbitrage, Distressed Securities, Special Situation Consistent, positive and absolute return Capital preservation, low volatility Two times the risk free rate of return Long term view A traditional and conservative approach to Event Driven 33 years of experience in event-driven investing A unique selection and diversification among the best managers A first class monitoring for better allocation Limit the downside No leverage for Gutzwiller TWO A strong diversification Competitive for Swiss Investors 4

6 Since Inception, Gutzwiller TWO Achieved About 70% Positive Monthly Performance While Evolving In A Secular Downward Trend For Rates Gutzwiller TWO (USD) (As of end of September 2015) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec GUTZ TWO US TN&B 0-1 Year S&P

7 Generating Appropriate Risk Adjusted/ Return Profile p.a. since inception (As of end of December 2014) Statistics in % Leverage of Gutzwiller TWO 0.0 % Gutzwiller TWO (USD) US TN&B 0-1Y S&P 500 Index Aggregate leverage target-funds x1.4 Volatility 3 years 3.4 % Volatility 5 years 3.7 % Sharpe ratio 3 years rolling 0.55 Sharpe ratio 5 years rolling 0.36 S&P 500 correlation since 3 years 34.5 S&P 500 correlation since 5 years 63.6 Return figures are net. Past performance is no guarantee of future returns. The performance shown does not take account of any commission and cost charged when subscribing and redeeming units. 6

8 Terms & Fund Information Number of Target Funds 10 Assets under management USD Mio. Tracking Error (USD) 12.6 (since inception) Turnover Europ. formula acc. SFA (USD) ( ) Location Switzerland Jurisdiction Swiss Law Inception Date April 30 th 2002 (USD), January 1 st 2006 (CHF) Registered for distribution Switzerland Minimum Investment USD / CHF Subscription Quarterly / Monthly 1 Redemption 2 Quarterly (No fee) / Monthly 4% fees Subscription Fee Maximum 6% Management Fee 1,5 p.a (USD) p.a. (CHF) Custodian Fee 3 0,2 p.a (USD) p.a. (CHF) Performance Fee NONE (USD, CHF) Fee transparency (as requested by the OAK BV) Yes 1 Subscriptions quarterly; monthly upon request, 10 working days in advance 2 5 weeks in advance, Monthly 4 weeks 3 Custody is E. Gutzwiller & Cie, Banquiers 7

9 Contact Details Gutzwiller Fonds Management AG Kaufhausgasse Basel Switzerland [email protected] GUTZWILLER TWO is an umbrella fund containing several subfunds. Each subfund may, directly or indirectly, pursue a non-traditional investment strategy, where the risks are not comparable to the risks of equities funds. GUTZWILLER TWO, as a fund of funds, invests in various, usually foreign investment funds of various legal structure (particularly collective investment vehicles, investment corporations, trusts and limited partnerships, hereinafter called target funds) which pursue alternative investment strategies or make alternative investments and use alternative investment techniques (in general known as hedge funds or as non-traditional funds). The risks of these target funds are not comparable to the risks of securities funds. Most of the target funds are subject to the law of countries, where neither the legal framework nor the regulatory supervision are comparable to Swiss standards. For this reason, GUTZWILLER TWO belongs to the category "Other funds with alternative investments". The attention of investors in GUTZWILLER TWO is therefore explicitly drawn to the risks mentioned in the prospectus, and investors must accept these risks. In particular, investors need to be prepared and in a financial position to accept any even substantial losses on invested capital. The fund management of GUTZWILLER TWO, however, makes every effort to minimise risks as much as possible by utilising a broad diversification in the pursued investment strategy, by carefully selecting the underlying target funds and by closely monitoring these funds. Nevertheless, in exceptional circumstances one or more of the underlying target funds may suffer a total loss. Printing Date: November 15 8