Britannia Brochure BWAM 2022

Wealth & Asset Management

2022

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Wealth & Asset Management

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A Distinctive Face in Today’s Global Market.

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Britannia Financial Group at a Glance Britannia Financial Group is a leading global financial group that combines local expertise with global solutions to offer a full range of investment banking, securities, brokerage services, asset and wealth management products and services to its clients.

Britannia Financial Group has been founded with a mission of providing financial services with the traditional banking values of quality service and knowledge of its clients thus creating a new standard in the delivery of financial solutions.

› Legacy and Tradition Built on the foundation of centuries of banking history

› Six Fully Regulated Subsidiaries › A Global Investment Banking Group › Market Value Strong balance sheet and AUM

› Headquartered in London For 35 years with presence in other key financial markets globally

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History & Tradition Britannia is steeped in banking history and tradition.

A group evolving through the decades by adapting itself to the new realities of the international financial environment.

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2021

2020

United Kingdom Britannia Digital (acquisition of Alphaplate) Britannia Wealth & Asset Management

Bahamas Britannia Securities (acquisition of Arbitral Securities)

United Kingdom Britannia Financial Group moves into new global headquarters in The Scalpel in London

2020

2019

2019

United Kingdom Incorporation of Britannia Global Payments

Bahamas Britannia Bank & Trust (acquisition of Amber Bank & Trust)

United Kingdom Britannia Global Markets (acquisition of Berkeley Futures Limited)

2018

2016

United Kingdom Britannia Global Investments (acquisition of Destek Markets UK)

United Kingdom Incorporation of Britannia Financial Group

2012

1986

Switzerland Incorporation of Britannia Wealth Management

United Kingdom Incorporation of Berkeley Futures Limited 4

Wealth & Asset Management

A Leading International Investment Banking Group Britannia Financial Group is headquartered in London.

Across six fully regulated entities, Britannia services a diversified, international client base consisting of institutions, corporates, family offices and UHNWs.

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Britannia Financial Group 26 Dover St. London, England

Britannia Global Markets Britannia Global Investments Britannia Global Payments Britannia Wealth & Asset Management Britannia Digital 52 Lime St. London, England

Britannia Wealth Management Place Longemalle 2. Geneva, Switzerland

Britannia Bank & Trust

› Britannia Global Markets › Britannia Global Investments

Caves Village. Nassau, Bahamas

Britannia Securities Caves Village. Nassau, Bahamas

› Britannia Global Payments › Britannia Wealth & Asset Management › Britannia Bank & Trust › Britannia Securities › Britannia Digital

As well as its headquarters in London, one of the leading international financial centres, Britannia maintains an on-the-ground presence in Geneva and the Bahamas.

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Our Philosophy At Britannia, our client have access to more markets, more products and more expertise than at our competitors. We offer everything from wealth structuring through to trust, offshore banking, onshore custody, discretionary investment management and execution only services across multiple asset classes. We enable our clients to invest in a manner that best suits their needs across various asset classes including agricultural futures, precious metals, options, CFDs, single stocks, bonds, Investment funds, ETFs and more. Services include custody and execution, advisory and discretionary, with accounts available across multiple currencies.

The client is at the core of everything we do at Britannia.

Our goal is to empower our clients to achieve their own aims and aspirations through our platform, experience and expertise. Each client can customise their own Britannia experience depending on which Britannia products, services and accesses they require – as a one size fits all approach doesn’t work. Britannia brings together the market and asset class access of an institutional brokerage firm with the experience and service of a private client boutique given clients a wide range of markets, asset classes and products to choose from.

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Investment Process Britannia offers long-only discretionary investment management for clients across a range of different risk, return and currency profiles. We offer two single asset model portfolios – fixed income and equity – and three multi-asset model portfolios across the whole risk spectrum, available in following currencies; USD, GBP or EUR. We also provide bespoke client portfolios solutions as necessary.

Britannia Global Multi-Asset Discretionary Models

Objective Return Target Expected Volatility Fees

Conservative

Balanced

Growth

Focus on capital protection with a moderate participation in equity market growth.

Balenced of capital protection and participation in equity market growth.

Strong focus on participation in equity market growth with and element of capital protection.

CPI + 1-2%

CPI + 2-3%

CPI + 4-5%

3% - 5%

6% - 9%

10% - 13%

1%

1.20%

1.20%

Cash

Fixed Income

Equitites

Alternatives

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Investment Process Risk Profiling / Strategic Financial Planning Our internal risk profiling will produce a bespoke risk score and risk tolerance ability which feeds into the appropriate model.

Strategic Asset Allocation The SAA is driven by client’s investment objectives and constraints over a long-term period.

Tactical Asset Allocation The TAA is adjusted using an MVST framework to best adapt from recent market movements.

Core Fixed Income

Satellite Credit

Core Equity

Thematic Alternatives Equity

Cash

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Core Fixed Income

Satellite Credit

Allocations are made via the most cost and tax efficient Government Bonds or ETFs, allowing the composition to be optimized on duration and desired yield curve.

We aim to generate incremental return to our core fixed income holdings by expressing a view on specific sectors and companies through holding individual bonds in the portfolio.

To position tactically and manage duration, we adjust the portfolio by using futures.

We manage the idiosyncratic risk of select bond holdings through our deep understanding of sector thematic trends, comprehensive credit analysis with an emphasis on valuation and security selection.

Fixed Income

Fixed Income Government

Maturity

Seagate HDD Cayman

1 year 8 months

United States Treasury

1 year 9 months

Clarios Global LP / Clarios US Financ Co

4 years %

United States Treasury

1 year 11 months

Ford Motor Co UST

4 years 3 months

United States Treasury

2 years 1 month

Tenet Healthcare Corp

4 years 8 months

HCA Inc

8 years 4 months

Investment Grade Corporate Bank of America Corp

3 years 11 months

Dell International LLC

4 years 11 month

Berry Global Inc

4 years 2 months

KeyCorp

5 years 1 month

Capital One Financial Corp

4 years 9 months

Holcim Helvetia Finance AG Perpetual

ishares USD Corp Bond UCITS ETF

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Core Equity

Thematic Equity

Similar to core fixed income, allocations are made via the most cost and tax efficient ETFs or Futures utilising our MVST process to actively manage our asset allocation recommendations (underweight/overweight) at a regional level.

We seek to identify macro themes and profit from underappreciated, long-term structural trends. Strategy is forward-looking as it aims to;

› Anticipate new trends, › Embrace change › Take advantage of future growth opportunities.

Successful identification of long duration investment opportunities persist beyond market cycles, i.e. ‘secular’ trends.

Equities

Equities

Core

Theme - Covid-19 Recovery

iShares Core EURO STOXX 50 ETF

Delta Air Lines Inc

iShares Edge MSCI World Value ETF iShares MSCI World Small Cap ETF SPDR MSCI World Materials ETF iShares MSCI Brazil ETF Vanguard FTSE 250 ETF

Walt Disney Theme - Deglobalisation CNH Industrial ProPetro Holding Corp Sandvik Schlumberger Teck Resources Ltd Trimble Inc Theme - Emerging Market Consumer L’Oreal Tencent Holdings Ltd Theme - Online Life Amazon.com Criteo

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Strategic Asset Allocation Our strategic asset allocation forms the baseline for our core investment strategy and is based on expected returns and correlations over the long term across multiple business cycles.

We use a constrained optimisation model which allows us to systematically identify the best solution to minimise volatility and drawdowns and maximise return conditional upon meeting the CPI (Consumer Price Index) + absolute return target.

Tactical Asset Allocation Britannia’s tactical asset allocation process adapts the strategic allocation within the core investments by over or underweighting specific assets in order to enhance alpha and mitigate risk.

This is a top-down macroeconomic process and we leverage our own proprietary models of economic and market regimes to identify discretionary opportunities.

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Tactical Trade Case Study Theme Emerging Market Consumer – China Consumers in emerging markets play a vital role in the global economy representing 35 per cent of global consumption, or more than $16tn.

Consumer demand in emerging markets will be driven by favourable demographic trends, real income growth and changes in consumption patterns.

Investment Rationale China stocks have experienced major drawdowns on the back of delisting fears and a big spike in Covid-19 cases with lockdowns. We thought the dispersion between fundamentals and valuation had become extreme and decided to increase our positions on 15 March.

The timing turned out to be fortunate. On 16 March, the Chinese government announced a major reversal in its policy. In order to stabilise the markets, it promised to ease the regulatory crackdown, support property and technology businesses, and stimulate the economy. Some headlines suggested there was progress in talks between US and Chinese regulators about auditing. This led to a dramatic rebound.

Data from Bloomberg LLP 22-April-2022

However, fundamentals continued to take the back seat and news flow remained mixed. As such, we decided this volatility is too high for our portfolios at this time. We may revisit for another tactical trade in the future.

Instruments trades during a period KraneShares CSI China Internet ETF. 12

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Theme Trade Case Study Theme Online Life The internet is arguably one of the most important and significant inventions in modern history. It has brought a profound change to the functioning of modern society across the globe and continues to impact our daily lives.

Which companies will continue to enable us and which will protect us from ourselves?

Investment Rationale We first introduced our video games thematic idea back in July 2019. It was initially premised on the increase in smartphone ownership and shift to mobile gaming in Asia.

Supporting this is the themes defensive properties – video gaming is of one of the cheapest entertainment forms and fares well in a recession.

As the coronavirus pandemic hit the world, countries started to introduce social distancing and lockdown measures to limit the spread, which encouraged more playing time.

Data from Bloomberg LLP 22-April-2022

Instruments traded during period Ubisoft Embracer Electronic Arts Tencent The following sector ETF illustrates the broad market move during the period.

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Theme Trade Case Study Theme Electric Vehicles Few will need to be introduced to the opportunities provided by a shift to Electric Vehicles as vehicle costs reduce and infrastructure improves. But we believe that a tipping point was reached in early 2021 as costs reduced and infrastructure improved.

Investment Rationale A congested and expensive marketplace, our search for exposure led us down the value chain, away from the manufacturers, beyond the component industries and to the input commodities. Valuations here are much more appealing.

Teck Resources was a diversified metal producer but undergoing a strategic transition to become a major global copper producer. A key input into EVs. Data from Bloomberg LLP 22-April-2022

Instruments traded during period Teck Resources

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Wealth & Group Asset Management Financial Brochure

Britannia Global Entities

2020

In our tradition we believe.

In our people we trust.

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This document is issued by Britannia Wealth & Asset Management.

Britannia Wealth & Asset Management is Authorised and Regulated by the Financial Conduct Authority (FRN 114159), is registered in England and Wales, number 01969442 with its registered address at 29th Floor, 52 Lime Street, London, EC3M 7AF, United Kingdom.

The document and the content (“Content”) is a marketing communication and is not an offer to sell, purchase or subscribe for any investment nor a solicitation of such an offer, is incidental to your relationship with us, is of a general nature and is for informational/indicative purposes only. Accordingly, it does not address the circumstances of any particular individual or entity and so no consideration has been given to the particular investment objectives, financial situation or particular needs of any recipient, client or otherwise. Furthermore, nothing in this document constitutes a solicitation, recommendation, endorsement, or offer by Britannia Wealth & Asset Management to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. Additionally, theContent (a) does not purport to summarise all the conditions, risks and other attributes of any investment with us; (b) is derived from sources believed to be reliable but which have not been independently verified such that we assume no responsibility for independent investigation or verification of such information and (c) does not constitute a comprehensive or complete statement of the matters discussed or the law relating there to. You should, therefore, not construe it as containing any legal, tax, investment, financial, or other advice and so, if you are in any doubt about these matters, you should consult the appropriate professional advisor. This document has not been prepared with a view toward public disclosure under applicable laws or otherwise and is intended for the benefit and use of us. This document is not directed at residents of the United States of America or any particular country outside of the UK and is not for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation including but not limited to the United States of America or to US persons.

There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, and money market funds involve risk of loss. Loss of principal is possible. Futures, options, foreign exchange, equities, CFDs and other derivative products, whether on-exchange or off-exchange, are complex instruments and come with a high risk of losing money due to leverage.

You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money. You also understand and agree that other clients may undertake a similar or alternate transaction(s) and make use of the information in this note.

The opinions in this document constitute the present judgment of ours, which is subject to change without notice. Not only do we not assume any obligation to update or otherwise revise this document but no representation or warranty, express or implied, is made as to the accuracy or completeness of any of the Content and nothing contained here in is, or shall be relied upon as, a representation, whether as to the past, the present or the future. Past performance is not indicative of future performance. Neither Britannia Wealth & Asset Management or any of its members, officers or employees will be liable or have any responsibility of any kind for any loss or damage that you incur arising out of your reliance upon this information.

Any disclosure, use, copying and circulation of this document and/or the Content is prohibited without our consent. Nor may you do anything in relation to any part of this document which is prohibited by copyright. The copyright in the Content is vested in Britannia Wealth & Asset Management.

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Wealth Wealth & & Asset Asset Management Management

2020

Contacts

BRITANNIA WEALTH & ASSET MANGEMENT Level 29, 52 Lime Street, London EC3M 7AF, United Kingdom info@britannia.com

HEAD OF INVESTMENT PORTFOLIO

CHIEF INVESTMENT OFFICER

James Gutman +44 (0) 20 3196 5322 jgutman@britannia.com

Simon Black +44 (0) 20 3325 9079 sblack@britannia.com

www.britannia.com

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