Excellence In Asset Management 29th January 2002

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Excellence In Asset Management29th January 2002
The Science of Investment
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Aspects Credentials
Experienced Team

• Founded in 1997. Principals were involved in the
  development of AHL (now owned by Man) with a
  track record stretching back to 1983

Institutional Backer

• 25 owned by Swiss Life Hedge Fund Partners/RMF
  Holding AG

Strong Infrastructure

• US750million under management and 30 employees,
  of whom 11 in research and 9 in execution

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Successful Stock Selection in a Falling Market
Aspects disciplined approach has successfully
generated returns from both longs and shorts in
difficult markets environments.
Source Aspect Capital and MSCI
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Investment Process
Momentum
Growth
Value

• Disciplined bottom-up stock selection
• Rigorously researched factors
• Diverse sources of out-performance

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Portfolio Construction Long/Short Equity Fund
Target Performance

• Return of 20 per annum with annualised
  volatility of 12

• Diversified portfolio of 80 to 100 positions
• Each position is Beta normalised

Position
Leverage

• Target gearing of equity portfolio of 2.0, with
  range from 1.5 to 3.0

Market Risk

• Long term average Beta of 0.2, with range from -
  0.1 to 0.5

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Looking Forward
Performance Outlook

• Eliminating value bias, still short in (T)MT

• Broader factor inputs
• More adaptive, dynamic model

Research Agenda

• Prospective Limit at 500 million
• Market Neutral version also open

Capacity and Liquidity
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Contact Details
Contact Alastair Smith email alastair.smith_at_as
pectcapital.com Website
www.aspectcapital.com Telephone [phone]
8700 Fax [phone] Address Aspect
Capital Limited, 9 Mandeville Place, London, W1U
3AT
This document is not an invitation to subscribe
for units in any of the funds described herein
and is by way of information only. Subscriptions
will only be received and units of shares issued
on the basis of the current prospectus or scheme
particulars for the relevant fund. Copies of the
funds prospectus and financial statements can be
obtained from their manager, Aspect Capital
Limited, P.O. Box 2003 GT, Grand Pavilion
Commercial Centre, 802 West Bay Road, Grand
Cayman, Cayman Islands, B.W.I. The offshore
funds described in this document are not
regulated under the Financial Services Act, 1986
(the Act) and consequently no protection is
provided by the UK regulatory system. Similarly,
benefits available under the UK Investors
compensation Scheme do not apply. This document
is only intended for distribution to persons
permitted to receive it by section 76 of the Act.
The information and opinions contained in this
document have been compiled, or arrived at from
sources believed to be reliable and in good
faith, but no representation or warranty, express
or implied is made as to their accuracy,
completeness or correctness. Past performance is
not a guarantee of future performance. The price
of units and shares can go down as well as up and
may be affected by changes in the rates of
exchange. An investor may not get back the
amount invested. Aspect Capitals trading funds
employ speculative investment techniques and
prospective investors are cautioned that these
funds are intended for the professional and
sophisticated investor who can afford the risks
inherent in this type of investment. This
document is issued in the UK by Aspect Capital
Limited, which is regulated by the FSA.