September
2009

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Global Market and Fund Performance Overview

Individual Stock Performance

Historical Performance of the LWM Strategy

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Fund Factsheet - September 2009

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Elite LWM East-West Value Fund
Performance & Market Update

The latest factsheet for the Elite LWM East-West Value Fund, which includes top holdings, diversification and performance figures, can be accessed by clicking this link.

Greetings,

In August, concerns about the nature and sustainability of China's rapid rebound led to a significant pullback in Chinese market valuations. Nonetheless, major markets once again posted strong returns.

The French CAC (6.63%) and the FTSE 100 (6.52%) led the way. The MSCIW (global index), Dow Jones and S&P 500 all returned in excess of 3%. The German Dax gained 2.48% and the Japanese Nikkei 1.31%.

The Elite LWM East-West Value Fund performed strongly with a gain of 4.67%.

This performance was achieved whilst maintaining a strong focus on downside protection.

Elite LWM East-West Value Fund YTD

Individual Stock Performance

Our best performing stocks in August were Aero Inventory (UK, +20.13%), Asia Satellite (Hong Kong, +10.76%) and Dassault Aviation (France, +10.64%).

Our worst performing stocks were Blue Scope Steel (Australia, -12.91%), Hong Kong & Shanghai Hotels (Hong Kong, -2.03%) and Sangetsu (Japan, -0.20%).

Please note that due to the August bank holiday, the performance figures for each of the stocks held by the Fund are as of their value on the last valuation point for the Fund which was August 28th.

All performance figures are in local currencies.

Click here for the latest fund factsheet

Historical Performance of the LWM Strategy

The classical value strategy used by the Fund is unique to Lowes Wealth Management and was launched in October 2005.

Since launch the LWM strategy has outperformed ALL major global markets, with lower volatility.

As can be seen from the graph above, the secret of successful investment management is not to generate spectacular returns. It is to generate decent returns whilst avoiding spectacular losses.

As Warren Buffett said "The first rule of investment management is don't lose money. The second rule of investment management is don't forget the first rule!"

Kind Regards,

Justin Lowes
Lowes Wealth Management
www.loweswealth.com

Performance Figures Prior to the Launch of the Fund

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. 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.

Lowes Wealth Management (LWM) is the exclusive provider of investment advice to the Elite LWM East-West Value Fund. The objective of the Fund is to significantly outperform all major markets whilst maintaining a comparatively low level of investment risk.

The Fund uses a classical value investment strategy which has been employed by Lowes Wealth Management since October 2005. Over the period the strategy has outperformed all major markets, with lower volatility.

Important Notices:

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.

This communication is confidential and may be covered by legal, professional or other privilege. The information herein is solely for the intended recipient(s). Any other access is unauthorised. If you are not the intended recipient(s) please immediately delete it from your system. Any disclosure, copying or distribution, as well as any action taken or omitted to be taken in reliance on information herein, is strictly prohibited. This Material and its use may be restricted by law in some jurisdictions, and persons who receive or otherwise interact with it are required to inform themselves and to comply with any such restrictions. Specifically, the information herein is not for distribution to the United States or Switzerland, and it does not constitute an offer or a solicitation of an offer to buy or to sell securities in those countries or to sell securities to or for the benefit of any United States or Swiss resident.