Rasmala GCC Fixed Income Fund - Rasmala Investment Bank

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Investment Strategy – Allocations* (Cont’d) Ownership Type Current Investment Allocation by Bond Maturities Govt Related Entity 5% Sovereign 11% 0 - 2.5 yrs 11% 5 + yrs 51% 2.5 - 5 yrs 38% Corporate 84% Source: Rasmala * As of October , 2013 Rasmala GCC Fixed Income Fund 12
The Fund Investment Process Selection Criteria Credit Analysis / Rating Issue Size & Liquidity Interest rate profile Duration and Convexity Focus on Risk The Investment Manager utilises its expertise in fixed income investing to select the most appropriate securities. Analysing the underlying Verifying the issue size Selecting the appropriate Modified duration and credit of the issuer and liquidity interest rate profile convexity Focus on risk adjusted return The investment process requires a detailed analysis of the underlying credit risk of an issuer. The credit process is multi faceted and employs a combination of proprietary credit analysis, third-party credit intelligence and external credit rating reports released by the major rating agencies. Secondary market liquidity impacts directly on the performance of an actively managed portfolio. The investment process therefore includes an evaluation of the expected secondary market liquidity of instruments to be held in the portfolio, with a liquidity rating applied. This liquidity rating is regularly reviewed and plays an important part in the asset allocation process. A fixed income portfolio is exposed to both changes in the absolute level of interest rates and the shape of the yield curve. These risks are continuously monitored and regularly reviewed to ensure that the portfolio is appropriately positioned for both the prevailing interest rate environment and any expected changes. Modified duration is a broad measure of the price sensitivity of bonds or portfolios to small parallel shifts in the interest rate curve. Convexity quantifies bond or portfolio price changes due to larger parallel shifts in the interest rate environment. Both measures are employed to assist in the management of interest rate sensitivity of the portfolio. A matrix of both quantitative and qualitative factors are considered when analyzing potential investments opportunities. Existing investments are dynamically managed to profit from anticipated changes in the macro environment, envisaged shifts in interest rate curves and expected improvements or otherwise in the underlying credit quality of investments. Relative value strategies are also employed to maximize the risk adjusted return to investors. Rasmala GCC Fixed Income Fund 13
Page 1 and 2: November 2013 Rasmala Investment Ba
Page 3 and 4: Executive Summary The Opportunity T
Page 5 and 6: GCC Market Outlook • The Gulf Coo
Page 7 and 8: Rasmala - The Investment Manager Ov
Page 9 and 10: Investment Strategy Overview Summar
Page 11: Investment Strategy - Allocations*
Page 15 and 16: The Fund Management Team Eric Swats
Page 17 and 18: Disclaimer This presentation is pre
Page 19 and 20: Disclaimer For Residents of United

Rasmala GCC Fixed Income Fund - Rasmala Investment Bank

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