Complete Lowes Wealth Management Strategy Performance

The Fund uses the Lowes Wealth Management classical value investment strategy which was launched in October 2005. We use the concepts laid down by Benjamin Graham, the tutor of Warren Buffett. Classical value investment has consistently outperformed markets for more than 70 years. Whilst we hold closely to Graham's original approach, we use a concentrated portfolio and diversify across major and emerging markets.

Since launch we have dramatically outperformed all major markets, with lower volatility.

Prior to 1st December 2008 (the launch date for the Elite LWM East-West Value Fund), the performance figures quoted for the underlying strategy are the gross returns of our entire equity portfolio over the period beginning October 27th 2005. From 27th October 2008 to January 5th 2009 we were 100% in GBP cash for the transfer of clients' assets into the Fund. We measure only the performance of the money that was invested on behalf of our clients. We factor in any cash received in the form of dividends from stocks purchased and any realised cash that was held resultant of the sale of a stock. We do not however factor in sums received for investment that did not enter the investment cycle.

This communication constitutes neither an offer to sell nor a solicitation of an offer to purchase/subscribe to any investment.  All information and attachments (the "Material") are provided by Lowes Wealth Management ("LWM") as part of its internal research activity. This Material is solely for informational purposes, and LWM makes no representations as to accuracy or completeness. LWM is not responsible for errors contained herein and shall not be liable for any consequences arising out of reliance upon same. Opinions herein constitute the present judgement of LWM, which is subject to change without notice.

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