HARNESSING DATA, TECHNOLOGY, AND DIFFERENTIATED

INSIGHT. SEAMLESSLY INTEGRATING:

STRATEGIC ASSET ALLOCATION

TACTICAL DECISION-MAKING

TAILORED SOLUTIONS

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ClearMacro Enables Clear Thinking in a Noisy World

ROBUST QUANTITATIVE INVESTMENT FRAMEWORKSenabling superior portfolio optimisation and management

By harnessing the power of big data and latest robotic technologies to deliver:

MACRO AND MARKET INSIGHT BASED ON DATA, NOT OPINIONsee through the noise and identify alpha-generating strategies

TRANSPARENCY, ACCOUNTABILITY & VERIFIABLE ALPHA POTENTIAL

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Transforming high impact data into PREDICTIVE MARKET SIGNALS to provide a measurable “EDGE”

The ClearMacro Approach

Identifying the highest quality TACTICAL TRADESAND STRATEGIC ALLOCATIONS

OPTIMISING PORTFOLIOS whilst TAMING RISK

DATA-DRIVEN RESEARCH structured around the needs of institutional investment process

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The ClearMacro Benefits

OUTPERFORM peers with performance gains derived through ClearMacro’s high-quality strategic and

tactical rules-based alpha strategies

ACCELERATE investment decision-making and quickly respond to market changes with ClearMacro’s

robust, independent framework and differentiated insight (driven by data, not opinion)

OPTIMIZE resources by reducing the onerous costs and challenges associated with data, coding and quant

teams

COMMUNICATE clearly at investment decision-making level - externally and internally - with a common,

intuitive and transparent framework

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Portfolio Construction Process Drives Research

Our deliverables organised around decision-making needs of a high quality institutional investment process

ACCOUNTABILITYTransparency and audit trail

OPTIMISED PERFORMANCEthrough active risk capital allocations

DISTINCT RETURN FRAMEWORKSReturn drivers, risk, correlations, and confidence level

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Our Deliverables

ClearHORIZON™ Factor-driven analysis of the long-term return outlook covering all major asset classes globally from an integrated multi-asset perspective on a 3-5 year investment horizon

ClearSTRATEGIC™Monthly strategy updates, chart decks, trade notes, special reports, 6-12+ month horizon

ClearTACTICAL™Weekly commentary, chart decks, trade notes, reference library, special reports, 0-6 month horizon

Tailored SolutionsExpert access, data export, custom built solutions, on-site access to ClearENGINE™

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ClearHORIZON™: Long Term Return Outlook

OPTIMISED portfolio allocations

GLOBAL, INTEGRATED MULTI-ASSET CLASS coverage on a 3-5 year investment horizon

FACTOR-DRIVEN granular analysis of the long-term return prospects for 263 asset classes, regions, countries, sectors and styles

Provides ANCHOR to ClearSTRATEGIC™ 6-12+ month Asset Allocation Strategy

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ClearSTRATEGIC™: Global Integrated Asset Allocation Strategy

Robust quantitative frameworkprovides systematic anchor to analyse strategic opportunity set

Identifies optimal strategicportfolios for 6-12+ month horizon

Qualitative overlay provided by suite of independentcontributing analysts

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ClearMODELS™: Systematic Strategies

VISUALISErules-based investmentstrategies

EVALUATErelative performance

ALLOCATEoptimally acrossa broad opportunityset of alpha

FLEXIBLE R&DUtilise ClearENGINE™ to

automate and enhance your existing strategies

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INSIGHTData-driven analysis of themacro and market environment

TRADESAlpha-focused investment strategies. Harness the power of data and proprietary predictive modelling capabilities and qualitative overlay of ClearMacro’s suite of independent contributing analysts.

ClearTACTICAL™: 0-6 month alpha

EFFICIENCYFocus time and budgets responsibly by identifying the most impactful data sets for macro/market modelling

Whatdoinvestors careabout?

Which aremost useful?

How to see signal in noisy data?

Which signals to trust?

InformationCategories

DataSets

SignalExtraction Conviction Alpha

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Signal Construction

DIRECTIONALITYScores correlate to market directional bias

STRENGTHScores correlate to how strong the data signal is relative to its’ own history

BREADTHExtreme high or low scores signal that multiple data sets “confirm” each other

Humans “lock” data sets’ relationship to markets

Machines process data to 3 variant transformations

1 to 10 scores represent current status of distribution

Raw Data Set

Generate Data

Distributions

Convert to Signal

EvaluationBack-

Testing

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Extracting Value from Signals

FLEXIBLEAs part of discretionary or systematic process

ALPHAVerifiable performance potential

COMMUNICATIONIdeal for internal and external marketing

Identify key signals for selected market

Identify key areas of macro opportunity

Organise key signals into composite market scores

Search Engine

Macro Screening

Composite Signals Models

Organise key signals into rules-based strategies

Alpha

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Tailored Solutions: ClearDIAGNOSTIC™

LINK CLIENT PORTFOLIOSWITH ROBOTICSPortfolio efficiency ratings, automated portfolio “upgrade” suggestions, regulatory suitability analysis

REALISE THE VALUE PROPOSITIONEnhanced communication and value for investment decision-makers, clients and advisors

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Tailored Solutions: Multi-Strategy Case Study

US fund retained us to build a bespoke solution to support and optimise their investment decision-making and marketing activities

Their investment universe comprises 350 US closed end funds organised into 10 sectors

Their investment expertise is in manager selection, and our mandate was to optimise their asset allocation process and enhance their decision-making capabilities

Their stated return objective was 12%: 9% from asset allocation mix (ClearMacro expertise) and balance from manager selection (client expertise)

They had a significant number of portfolio constraints

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A multi-phase delivery

Phase 1: an integrated multi-strategy solution that is transparent, credible, centred around a “Master Scorecard”, and delivering an accountable audit trail for their investment decision-making process

What We Proposed

Phase 2: additional R&D strategy optimisation to improve total portfolio risk-adjusted returns, and optimise client’s use of ClearMacro for both external marketing and internal transparency

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What We Delivered: Master Strategy

INTEGRATIONof transparent sub-strategies

REBALANCINGdriven by strategy rules andcommunicated clearly in score-card

AUDIT TRAILstrategy performancedocumented

PERFORMANCE9% return since 2002 and 350 bps annualised benchmark out-performance

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What We Delivered: Long-Term Core Portfolio

OPTIMISEDTargets highest possible returns in context of risk-adjusted projections, risk targets and operating mandate

ACCOUNTABLEIntegrated with ClearHORIZON™factor-driven return projections

PERFORMANCEProjected long-term portfolio return, performance simulations and allocations audit trail

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What We Delivered: Macro Tilt Tactical Strategy

ACCOUNTABLEDelivers alpha from objective, existingdata without the need to forecastmodel inputs

INTUITIVEIdentified current macro andmarket regimes, applying systematic asset classtilts

ENHANCEDrisk-adjusted return profile for their strategic portfolio

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What We Delivered: Liquidity Tilt Tactical Strategy

ACCOUNTABLEDelivers alpha from objective, existingdata without the need to forecastmodel inputs

INTUITIVEDesigned to exploit relationshipbetween behavioural bias and liquidity cycle in US Closed End Fund sectors

ENHANCEDrisk-adjusted return profile of strategic portfolio

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ClearMacro tailored solutions

IMMEDIATEEvaluation of client investment process and ClearMacro value proposition

TAILORED OPTIONS❑ Client dashboard❑ Customised portfolios❑ Automated strategies❑ Scenario/stress-tests❑ Client forecasts embedded❑ Client portfolio diagnostic❑ Investment Committee

participation

IMPLEMENTATIONDefine timelines, agree value enhancements, and ongoing service and support

Agree ClearMacro Value Proposition

Review VP/PC and define deliverables and timelines

Agree client mandate

Proof of Concept

Deliver in Partnership

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HARNESSING DATA, TECHNOLOGY, AND DIFFERENTIATED

INSIGHT. SEAMLESSLY INTEGRATING:

STRATEGIC ASSET ALLOCATION

TACTICAL DECISION-MAKING

TAILORED SOLUTIONS

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