Carmignac Patrimoine is a diversified international fund managed by Carmignac Gestion, a French asset management firm. The fund aims to minimize risk while seeking returns through flexible allocation across international equities, bonds, and currencies. It is managed by three portfolio managers who collaborate on asset allocation decisions. As of September 2013, the fund had increased its equity exposure to 50% due to improving market conditions while maintaining balanced currency exposure between the dollar and euro. Over its 24-year history, Carmignac Patrimoine has outperformed its composite benchmark, demonstrating strong performance across various market cycles.

1. ‘Credit Union Investments – Income and Growth’

2. Carmignac Patrimoine
2

3. Mark Dunn
Sales Director - UK & Ireland
3

4. Two simple questions to be answered…
„ Who are Carmignac?
„ What is Carmignac Patrimoine and how has it performed?
4

5. An independent and entrepreneurial company,
focused on a single vocation
54 BILLION IN ASSETS UNDER MANAGEMENT
1.5 BILLION EQUITY CAPITAL
228 EMPLOYEES
17 INVESTMENT FUNDS
COMMERCIAL DISTRIBUTION IN 12 COUNTRIES
Source: Carmignac Gestion at 30/09/2013
5

6. A french asset manager, a European presence
CREATION OF
THE COMPANY
1989
1999
LUXEMBOURG
SUBSIDIARY
ITALY*
GERMANY*
BELGIUM*
2002
2003
2004
SWITZERLAND*
NETHERLANDS*
2005
SPAIN*
2006
2008
FRANKFURT
AUSTRIA*
2009
MADRID AND
MILAN OFFICES
SUBSIDIARY
2010
2011
SWEDEN*
REGISTRATION
OF THE FUNDS IN
SINGAPORE FOR
PROFESSIONAL
INVESTORS
* Countries in which the Funds are registered
6
2012
LONDON
OFFICE
MILAN
SUBSIDIARY

7. Carmignac Gestion : a strong brand image
Financial Times fm
Carmignac Gestion ranked 2nd best Fund management brand by distributors
NUMBER OF FUNDS
1. Blackrock
396
2. CARMIGNAC GESTION
18
3. JP Morgan
252
4. Fidelity
216
5. Schroders
184
6. Pictet Funds
219
7. M&G Investments
126
8. Franklin Templeton
107
148
1009
9. Invesco
10. DWS
Source: Financial Times, Fund Buyer Focus, 13/02/2012
7

8. A business model designed for the long term
Controlled growth
ASSETS UNDER
MANAGEMENT*
2007
2008
Diversified client base
2009
2010
2011
2012
2013
First quality partners to support growth
• An externalized middle office : Caceis Investors Services, France
• Independent and robust valuation agents: Caceis Fund Administration
(France) and Caceis Bank (Luxembourg)
• European leaders in the depositary-custodian business Caceis Bank
(France) and BNP Securities Services (Luxembourg)
• A combination of worldwide audit expertise
Ernst & Young Audit, Cabinet Vizzavona, KPMG, PricewaterhouseCoopers
Source : Carmignac Gestion 30/09/2013
*in Euros billion
,
8

9. International management team
Excellence, sharing and synergy are the cornerstones of our
quality management
9

10. A constant reinforcement in line with our key investment
themes
Edouard CARMIGNAC
Chairman - Manager
BOND MANAGEMENT
EUROPEAN EQUITIES
Rose OUAHBA
• Head of Team
• Manager
Laurent DUCOIN
• Head of Team
• Manager
Frédéric LEROUX
Global Manager
Charles ZERAH
Manager
Samir ESSAFRI
Manager
Laurent CHEBANIER
Analyst
Country Risk
Carlos Andres GALVIS
Manager
MULTISTRATEGY
Julien CHERON
Quantitative Analyst
ALTERNATIVE STRATEGIES
Markus KULESSA
Analyst
Keith NEY
Head of Credit
COMMODITY EQUITIES
Caroline SLAMA
Credit Analyst
David FIELD
• Head of Team
• Manager
François-Joseph FURRY
Manager
Maxime CARMIGNAC
Manager
Vincent STEENMAN
Manager
Pierre VERLE
Credit Analyst
Simon LOVAT
Analyst
Antoine COLONNA
Analyst
Consumer sector
Matthew WILLIAMS
Analyst
Financial Sector
10
EMERGING EQUITIES
Simon PICKARD
• Head of Team
• Manager
Xavier HOVASSE
Manager
David YOUNG PARK
Manager
Haiyan LI-LABBÉ
Analyst
Greater China
Edward COLE
Analyst
EMEA
Tim JAKSLAND
Analyst
Innovation Sector

11. A range of 17 complementary and recognized funds
DIVERSIFIED INVESTMENT UNIVERSE
ROBUST ASSETS UNDER
MANAGEMENT
EU small and mid-cap equities
239 M EUR
CARMIGNAC EMERGENTS
Emerging markets equities
Emerging markets small and mid cap
313 M EUR
CARMIGNAC COMMODITIES
International equities - Commodities
717 M EUR
CARMIGNAC PATRIMOINE
International equities and bonds
CARMIGNAC EMERGING PATRIMOINE
Emerging equities and bonds
CARMIGNAC EURO-PATRIMOINE
EU equities and bonds
669 M EUR
CARMIGNAC INVESTISSEMENT LATITUDE
International equities
1 209 M EUR
CARMIGNAC GLOBAL BOND
International bonds
CARMIGNAC SÉCURITÉ
Euro bonds
5 864 M EUR
CARMIGNAC CAPITAL PLUS
Dynamic monetary investments
1 591 M EUR
CARMIGNAC COURT TERME
Euro treasury bonds
608 M EUR
CARMIGNAC PROFIL RÉACTIF 100
From 0 to 100% equities
193 M EUR
CARMIGNAC PROFIL RÉACTIF 75
From 0 to 75% equities
268 M EUR
CARMIGNAC PROFIL RÉACTIF 50
DIVERSIFIED
304 M EUR
CARMIGNAC EURO-ENTREPRENEURS
FIXED
INCOME
EU members/candidates equities and
additionally, Russian and Turkish equities
CARMIGNAC EMERGING DISCOVERY
PROFILED
International equities
CARMIGNAC GRANDE EUROPE
EQUITIES
CARMIGNAC INVESTISSEMENT
From 0 to 50% equities
470 M EUR
Source : Carmignac Gestion 30/09/2013
© 2013 Morningstar
8 189 M EUR
1 773 M EUR
28 123 M EUR
1 486 M EUR
630 M EUR
11
HIGH QUALITY FUND
MANAGEMENT

12. Carmignac Patrimoine
12

13. Carmignac Patrimoine: objectives
„ Carmignac Patrimoine is a diversified international fund with at least 50%
of assets permanently invested in fixed income and / or money market
„ The flexible allocation aims to minimize the risk of capital fluctuation
while seeking the best sources of return
„ The recommended investment horizon is 3 years
„ Its reference indicator consists of 50% MSCI World ACW (Eur) with
dividends reinvested and 50% Citigroup WGBI all maturities (Eur)
13

14. Carmignac Patrimoine
Investment universe
PERFORMANCE DRIVERS
INTERNATIONAL BONDS
INTERNATIONAL EQUITIES
„
Equities listed on
international markets
„
Emerging market equities
„
„
Goverment / corporate
bonds (developed countries)
Goverment / corporate
bonds (emerging countries)
CURRENCIES
„
G3, Sterling, Dollar block
„
Emerging currencies
INVESTMENT LIMITS
„
„
„
„
„
„
„
Equity portfolio: equity exposure between 0% and 50% of the portfolio
Monetary and interest rate products: 50% minimum
Emerging equities: 25% max.
Emerging bonds: 25% max.
Modified duration of bond portfolio : -4 à +10
Minimum average rating of bond portfolio : BBB- (S&P) / Baa3 (Moody’s)
Credit derivatives: 10% max.
14

15. Three managers, one objective: balanced portfolio
allocation
o
Equity component management:
Edouard Carmignac
o
Bond component management :
Rose Ouahba
o
Exposure management:
Frédéric Leroux
► Edouard Carmignac, Rose Ouahba and Frédéric Leroux are working together to define and
optimise allocation of the risk budget:
► To avoid risk accumulating across Equity and Bond portfolios
► To look for the most attractive opportunities according to the relative valuations of the
bond and equity markets
► Management which is both collegiate and independent:
► Each manager remains fully responsible for his or her investment decisions
► Real synergy between the Equity and Bond portfolios and hedge strategies
15

16. Carmignac Patrimoine : Market Risk Hedging
16

17. Shared management of overall portfolio risk:
Equities, Fixed Income and Currencies
A DEDICATED MANAGER: FRÉDÉRIC LEROUX
•
Monitoring and detecting market risk:
macro-economy, liquidity
•
Creation of portfolio hedging or long exposure
strategies:
• The choice of instruments used
• Technical analysis and transactions implementation
•
Implementation of standard derivatives
(with the fund manager’s approval)
Risque de
change
17

18. Choice of hedges
„ For what purpose?
„
„
„
„
To maintain the absolute performance of the portfolio
To limit portfolio volatility
To limit the risk of a fall in case of unfavorable markets
To allow the manager to focus on long-term stock selection
„ What types of instruments?
„ Equities:
•
•
•
Futures on regional and sector indices (EUROSTOXX, S&P, NASDAQ, IBOV, ...)
Over-the-counter contracts: basket of stocks based on forward price of securities when
sectorial futures don’t exist
Occasional recourse to options
„ Fixed income:
•
Futures on organised and over-the-counter markets, swaps and options
„ Currencies:
•
Forwards contracts and options
„ Based on what proportion?
„ Equity exposure: 0 to 50%
„ Maximum currency hedging: 100%
18

19. Carmignac Patrimoine: an active asset allocation
Aktienexposure
Equity Exposure
Aktienquote
Equity Hedging
Anleihen/Geldmarkinstrumente
Bonds, Money Market and Cash
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
* 50% MSCI AC World Index NR (Eur) + 50% Citigroup WGBI NR (Eur)
Past performance is not a guarantee of future returns and may
fluctuate over time
Source: Carmignac Gestion, 30/09/2013
19
09/13
06/13
03/13
12/12
09/12
06/12
03/12
12/11
09/11
06/11
03/11
12/10
09/10
06/10
03/10
12/09
09/09
06/09
03/09
12/08
09/08
06/08
03/08
12/07
09/07
06/07
03/07
12/06
0%

20. Carmignac Patrimoine Performance
20

21. Carmignac Patrimoine: reasons for investing
§ A solid track-record guided by the expertise of the same portfolio manager, Edouard
Carmignac, since inception
§ A performing Fund even in crisis periods
Performance of Carmignac Patrimoine over 24 years
800
Carmignac
Patrimoine
+ 610%
Period preceding the
implementation of derivatives
and hedging strategies
700
600
SUBPRIME CRISIS
500
INTERNET BUBBLE
400
Reference
indicator*
+ 240%
ASIAN CRISIS
300
CREDIT CRASH
GULF WAR
200
FINANCIAL CRISIS
100
Source: Carmignac Gestion at 30/08/2013, Base 100 as at 07/11/1989
*50% MSCI AC World (Eur) ex-dividends + 50% Citigroup WGBI (Eur)
Past performance is not a reliable indicator of future performance.
Performance may vary over time.
21
11/12
11/11
11/10
11/09
11/08
11/07
11/06
11/05
11/04
11/03
11/02
11/00
11/99
11/98
11/97
11/96
11/95
11/94
11/93
11/92
11/91
11/90
11/89
0
11/01
11TH SEPTEMBER
2011

22. Carmignac Patrimoine: a fund “without” entry point
Rolling performance over the recommended 3-year investment period
CASE 2 : 28/02/2003
Equity markets low
CASE 1 : 28/05/2001
Equity markets peak
CP Benchmark (EUR)
CASE 3 : 31/05/2007
Equity markets peak
Carmignac Patrimoine
50%
40%
30%
20%
10%
0%
+44,46%
+35,35%
+ 30,56%
+7,41%
-10%
+13,09%
-20%
Source: Carmignac Gestion at 30/09/2013
Past performance is not a reliable indicator of future performance and varies
over time.
*50% MSCI AC World Free (Eur) ex-dividends + 50% Citigroup WGBI (Eur).
22
08/2013
05/2013
02/2013
11/2012
08/2012
05/2012
02/2012
11/2011
08/2011
05/2011
02/2011
11/2010
08/2010
05/2010
02/2010
11/2009
08/2009
05/2009
02/2009
11/2008
08/2008
05/2008
02/2008
11/2007
08/2007
05/2007
02/2007
11/2006
08/2006
05/2006
02/2006
11/2005
08/2005
05/2005
02/2005
11/2004
08/2004
05/2004
02/2004
11/2003
08/2003
05/2003
02/2003
11/2002
-30%
- 18,39%

23. Increased equity exposure
At 30/09/2013
Equity exposure: 50%
Modified duration: 1.5
Asset allocation
60%
50%
47.9%
41.1%
39.5%
41.6%
40%
19.4%
30%
10.5%
20%
10%
0%
Equities
Bonds
30/06/2013
30/09/2013
Source: Carmignac Gestion, 30/09/2013
23
Cash

24. Carmignac Patrimoine: breakdown of the bond
component
Staatsanleihen
Developed country
government bonds
Industrieländer
8.3%
5.0%
4,7%
Peripheral
Peripheriegovernment bonds
Staatsanleihen
11,4%
8,5%
Emerging country
Staatsanleihen
government bonds
Schwellenländer
0%
Investment grade
Unternehmensanleihen
corporate bonds
Anlagekategorie
18,4%
8,6%
High yield
Unternehmensanleihen
corporate bonds
mit hoher Rendite
9,0%
15,5%
1,8%
1,1%
Unternehmen ohne
Unrated corporate
bonds Notierung
0%
5%
10%
31/12/2012
Source: Carmignac Gestion, 30/09/2013
24
30/09/2013
15%
20%

25. Currencies: a balanced allocation between the dollar
and euro
We are maintaining our short positions on the yen, in line with
our “Japanese reflation” theme
Carmignac Patrimoine: net currency exposure
42.3%
38.9%
38.1%
US Dollar
Euro
20.4%
Yen -4.7%
17.1%
8.2%
7.1%
Pound Sterling
EMEA
Latin America
Asia (ex Japan)
0.3%
0.9%
0.2%
1.5%
.3,8%
4.9%
11.7%
9.2%
Other
-10%
0%
10%
Carmignac Patrimoine
* 50% MSCI AC WORLD NR (EUR) + 50% Citgroup WGBI All Maturities (EUR)
Source: Carmignac Gestion, 30/09/2013
25
20%
30%
Reference Indicator*
40%
50%

26. Carmignac Support
26

27. Transparency: we put much emphasis on reporting
Weekly Notes
Quarterly Report
Monthly Notes
27
Annual
Performance Sheet

28. Disclaimer
This presentation has been conceived for information purposes only and is intended to professional clients. It cannot be used
for another purpose than the one it has been conceived for, and cannot be reproduced, distributed or communicated, partly or
entirely, to third parties without prior written approval from Carmignac Gestion. This presentation is not an investment advice
nor is it contractually binding. Due to their simplification, the information contained in this presentation are inevitably partial.
This document may be subject to changes, without prior notice.
Past performance does not guarantee future returns. The value of an investment can rise or fall with market fluctuations, and
shareholders may lose, as the case may be, the amount originally invested.
The access to the products and services described in this presentation may be subject to restrictions towards some persons or
countries.
The risks and fees relative to the products are described in the KIID (Key Investor Information Document).
The KIID, prospectuses and annual periodic reports of the Funds are available on our website www.carmignac.com and can be
obtained on demand from Carmignac Gestion. The KIID must be given to the investor before any investment.
Copyright : The data published in this presentation are the exclusive property of their owners as mentioned on each slide.
Non contractual document, redaction achieved on 23/01/2012
Carmignac Gestion – Société Anonyme au capital de 15 000 000 € - RCS de Paris B 349 501 676
Agrément AMF n° GP 97-08 du 13/03/1997 24 Place Vendôme – 75001 Paris – Tel : +33 1 42 86 53 35
28

29. Corporate & Institutional Banking
Credit Union Presentation
5th of November 2013
29

30. 2
Investec Ireland: a brief history
13 Years in Ireland
Acquisition of Gandon
Capital Markets
GE Capital Woodchester
Bank in 2000
Commitment to Ireland
Addition of NCB to
Investec Group
240 Employees in Dublin
Investec
Harcourt Street, Dublin 2
Ireland’s Specialist Bank
Irish Expertise
International Strength

31. Investec: a distinctive Specialist Bank and Asset Manager
History
§
§
§
§
§
§
Strategy
Established in 1974
Today, an independent, specialist bank and asset
manager providing a diverse range of financial products
and services
Employs approximately 8,100 people
Listed on the JSE and LSE (a FTSE 250 company)
Total Assets of £51bn
Total Funds Under Management of £111bn
§
§
§
Client focused approach
Not “all things to all people”
Distinction: Nimble, innovative and high level of service
Culture
§
§
§
Flat and efficient management structure
Strong risk management and financial discipline
Entrepreneurial culture: material employee ownership
Corporate / Institutional / Government
Asset Management
Provides Investment Management Services
Private Client (High Net Worth)
Specialist Banking
Provides a broad range of services
§ Advisory
§
Lending
§
Treasury and trading
§
Provides investment management services
and independent financial planning advice
Transactional banking
§
Wealth & Investment
Investment activities
Source: Investec Group (consolidated) results as at 31 March 2013

32. Investec Group Results (Consolidated): Year Ended 31 March 2013
Year to
31 March 2013
Year to
31 March 2012
% Change
433,170
358,625
20.8%
4,005
4,013
-0.2%
51,000
51,550
-1.1%
9,828
10,251
-4.1%
Customer Deposits (£’m)
24,532
25,344
-3.2%
Core loans and advances to customers (£’m)**
18,415
18,226
1.0%
110,678
96,776
14.4%
Capital adequacy ratio – Investec plc
16.9%
17.5%
Tier 1 ratio – Investec plc
11.0%
11.6%
Operating Profit Before Tax (£’000)*
Total Shareholders’ Equity (£’m)
Total Assets (£’m)
Cash and Near Cash (£’m)
Third party assets under management (£’m)
* Before goodwill, acquired intangibles, non-operating items and after non-controlling interests
** Including own originated securitised assets

33. 5
Investec: Credit Ratings & Guarantees
Fitch
Moody’s
Short-term
F3
Short-term
Prime-3
Long-term
Long-term
BBB-
Baa3
The Moody’s Financial Strength rating in relation to our peers: is equivalent to Royal Bank of Scotland, KBC Bank NV and
higher than any of the Irish Banks including BOI and KBC Ireland.
Financial Services Compensation Scheme, the UK government guarantees a maximum deposit of £85 000 (€100,000) per
individual per institution
The group holds £10.4 billion of cash and near cash balances [(£5.7 billion (R75.1 billion) in Investec Limited and £4.7 billion in
Investec plc], representing approximately 33% of its liability base
None of Investec’s banking subsidiaries have required shareholder or government support during the global financial crisis
Investec holds capital in excess of regulatory requirements. The group targets a minimum tier 1 capital ratio range of
between 11% to 12% and a total capital adequacy ratio range of 15% to 18% on a consolidated basis for Investec plc and
Investec Limited

34. 6
Credit Ratings – Points to note
ü
Our rating reflects a strong score with respect to the “hard” financials - capital, liquidity, risk
management, transparency, asset quality and profitability
ü
On the Moody’s scorecard we would map directly to an A3, a high score relative to our peers
ü
On the “softer” issues such as franchise value, geographical diversification and market share,
Investec scores lower
ü
Rating agencies have awarded rating notch uplifts to banks who have received government
support. Many of these banks have failed and yet are afforded high ratings
ü
IBP has not required government support and the FCA has acknowledged its sound balance
sheet and stable operating fundamentals
ü
The bank was approved to issue up to 3 year debt guaranteed by the UK Government.
Notwithstanding this, Investec has not been awarded the benefit of rating notch uplifts to its final
ratings.

35. 7
INVP.L Share price: £4.39 as at 01.11.13

36. Disclaimer
This document is issued in the UK by Investec Bank plc (“Investec”), which is authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority. Whilst all reasonable care has been taken to ensure that the information stated
herein is accurate and opinions fair and reasonable, neither Investec nor any of its directors, officers or employees shall be held responsible in any way
for the contents of this document. This document is produced solely for your information and may not be copied, reproduced, further distributed to any
other person or published in whole or in part for any purpose without the prior written permission of Investec.
While the information in this document has been prepared in good faith, no representation or warranty, express or implied, is or will be made and no
responsibility or liability is or will be accepted by Investec or any of its subsidiaries or affiliates or by any of their respective officers, employees or
agents in relation to the accuracy, suitability or completeness of this document and any such liability is expressly disclaimed. Investec gives no
undertaking to provide the recipient with access to any additional information or to update this document or any additional information, or to correct any
inaccuracies in it which may become apparent.
This document does not take into account the specific investment objectives, financial circumstances or particular needs of any recipient and it should
not be regarded as a substitute for the exercise of the recipient’s own judgment. Investec does not offer investment advice or make any investment
recommendations. Recipients of this document should seek independent financial advice regarding the appropriateness or otherwise of investing in
any investment strategies discussed or recommended in this document and should understand that past performance is not a guide to future
performance and the value of any investments may fall as well as rise.
Investec in Ireland comprises Investec Ireland Limited and Investec Bank plc (Irish Branch) for regulated activities. Investec Ireland Limited is regulated
by the Central Bank of Ireland. Investec Bank plc (Irish Branch) is authorised and regulated by the UK Financial Services Authority and is a member of
the London Stock Exchange
The information contained herein does not purport to be comprehensive and is strictly for information purposes only. No party should treat any of the
contents herein as constituting advice. While all reasonable care has been given to the preparation of this information, no warranties or representation,
express or implied, are given or liability accepted by Investec or any of its directors or employees in relation to the accuracy, fairness or completeness
of the information contained herein.

37. BCP Asset Management
‘Tailoring Product For the Credit Union Market’
John Calvert, CEO BCP
BCP Asset Management
37

38. Key Information on BCP
• Established in 1969
• One of Ireland’s largest Independently owned Product Producers
– Over €1.5bn in assets under management
– €340m raised in 2012
– €265m raised YTD in 2013
– 907 Intermediary relationships
• Key Investment Objectives:
– Provide access to a range of compelling funds
– But with the added benefit of downside protection
– Conservative investment bias
– Priority on product Innovation
BCP Asset Management
38

39. Forging Key Partnerships
Advisors
Asset
Managers
Research
Tools
Pension
Providers
Custodians
BCP Asset Management
39

40. BCP Investment Process
Goldman Sachs,
S&P, Citigroup, JP
Morgan, Capital
Economics
BCP Product
Development
External
Research –
Bloomberg,
Reuters,
eVestment
Pricing Requested &
Terms Negotiated
Market
Analysis
Fund
Manager Due
Diligence
BCP
Investment
Committee
Product
Traded &
Launched
BCP/Bank
Compliance
Review
Broker
Feedback
BCP Asset Management
40

41. Customised BCP-Credit Union Products
November - 2013
BCP Asset Management
41

42. BCP Fixed Income Plan 4
• Partnership between Investec Bank and BCP targeted at CU’s
• 50+ CU’s have invested to date
• Medium Term Note with 2 options:
– 3yr Plan paying 2.5% pa gross
– 5yr Plan paying 3.5% pa gross
• Credit risk exposure to Investec plus Basket of ‘A’ rated banks
–
–
–
–
Commerzbank
Societe Generale
Credit Agricole
Royal Bank of Scotland
• Security of Plan ranks equally with deposits
• Classified as Category 3 in Guidance Notes
BCP Asset Management
42

43. BCP Credit Union Split Deposit
Absolute Return Bond 2
• Innovative Capital Secure solution combining Income, Growth
and Protection
• 25% invested in a 3 year high yield deposit account
– Paying 3.75% AER deposit interest over 3 years
• 75% invested in a 5 year 3 month Absolute Return Bond
– 80% participation in the fund performance
• 100% Capital Security provided by Investec Bank plc
• Classified as Category 2 in Guidance Notes
BCP Asset Management
43

44. BCP Credit Union Split Deposit
Absolute Return Bond 2
• 100% Capital Security provided by Investec Bank plc
• Bond tracks the performance of the Carmignac ‘Patrimoine’
Fund
• Patrimoine invests in Equities, Bonds and Currencies
• Patrimoine has €27bn in assets and a 24 year track record
• Patrimoine has returned over 8.6% per annum since its launch
in 1989
• Transparent and robust investment process – regular
performance and holdings updates
BCP Asset Management
44

45. Growing Trends in CU Market
•
•
•
•
•
Fixed Income still a high priority
Low deposit rates encouraging greater product innovation
Move towards active investment solutions (funds/indices)
Capital security still a high priority
Customised Bonds – BCP can create tailored bonds at €2m+
• As a result BCP have seen greater investment in traditional
capital secure bonds from Credit Unions:
–
–
–
–
BCP European Equity Bond
BCP Global Equity Bond
BCP Multi Asset Bond
BCP Absolute Return Bond
BCP Asset Management
45

46. Compliance Disclaimer
Please refer to the Brochure and Key Features for full details. With regard to the BCP Capital
Secure Bonds investors may not encash prior to the maturity dates. AER is Annual Equivalent Rate
and CAR is Compound Annual Return. Under current legislation, interest on Capital Secure Bonds
will be paid after deduction of DIRT, where applicable, currently 41%.
WARNING: BCP Credit Union Split Deposit Absolute Return Bond 2; If you invest in the Credit
Union Split Deposit Absolute Return Bond 2 you will not have any access to 25% of your money for
3 years and 75% of your money for 5 years 3 months. The value of your investment may go down as
well as up. Past performance is not a reliable guide to future performance.
WARNING: BCP FIXED INCOME PLAN 4; If you invest in the Fixed Income Plan 4 you will not have
any access to your money for 3 or 5 years.
BCP Asset Management
46

47. Questions?
Presentation to Client Name