Thames River WARRIOR II Fund January 2008
Thames River WARRIOR II Fund (Thames River Alternative Strategies Limited) Opportunistic Multi-Manager Managed by Ken Kinsey-Quick January 2008
Contents Industry Background Thames River Capital Multi Manager Team Investment Philosophy, S trategy and Process Thames River Warrior II Fund Core Portfolio - S eed Portfolio - - S pecial S ituations Portfolio S ummary Appendix Full multi-manager product range - Full multi-manager team biographies - 3 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
After 10 years w e stand before a fork in the path… LEFT: RIGHT: LEFT: RIGHT: Institutional Innovative Institutional Innovative (single digit) (double digits) (single digit) (double digits) 4 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Hedge Fund industry performance Returns Falling ,Monthly Rate of Return Tighter Risk Management 5 Source: CSFB /Tremont Hedge Fund Index X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Consistent Sharpe Ratio 6 Source: CSFB/ Tremont Hedge Fund Index X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Thames River Capital Assets Under Management 14,000 12,000 US Dollars (Million) 10,000 8,000 6,000 4,000 Absolute return orientated integrated 2,000 asset manager 0 Aug-98 Nov-99 Feb-01 May-02 Aug-03 Nov-04 Feb-06 May-07 Established January 1998 160 Staff Assets under management $12.4bn 140 (estimated as at 31.12.07) 120 106 88 100 80 160 staff 80 59 48 60 36 27 40 17 15 20 0 98 99 00 01 02 03 04 05 06 07 7 The above data includes Nevsky Capital LLP which is an affiliate of Thames River Capital LLP. X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Fund Structure Team Assets as at 31.12.07 MULTI MULTI GLOBAL EUROPEAN JAPAN GLOBAL GLOBAL PROPERTY MANAGER TEAMS MANAGER CREDIT FIXED EQUITIES EQUITIES EQUITIES HEDGE TRADITIONAL $2,857m $555m $4,367m $873m $102m $1,600m $2,045m $28m ASSETS Warrior Warrior II Kingsway Sentinel Hillside HEDGE Nevsky Edo Longstone Kingsway Plus Equity Focus Apex FUNDS Distressed Focus Tybourne Hedge Ventures 2X Currency Alpha Eastern European Global Boutiques £ Global Bond 1X Currency Alpha UCITS III Equity Managed Property / LONG Global Emerging Mkts High € Global Bond European Japan Growth ONLY Balanced Managed Income European Opps FUNDS & Income Cautious Managed $ Global Bond European Abs. Return Distribution Emerging Asia TRPIT CLOSED Hedge+ ENDED FUNDS Sigma 8 Note: Global Equities are managed by Nevsky Capital LLP, an affiliate of Thames River Capital LLP. TRC assets estimated as at 31.12.07 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Organisational Structure 160 staff* as at 31.12.07 Chief Executive CHARLIE PORTER Executive Team COO CCARO Chief Financial Officer Jeremy Charles Toby Hampden-Acton Loudon Greenlees FUND MANAGEMENT SALES ADMINISTRATION AND CONTROL Global Credit - 15 Property - 9 Global Equities - 33 Sales - 17 Financial Investment Control - 10 Admin - 9 Michael Mabbutt Martin Taylor Edward Morse** Chris Turner Bernt Tallaksen Nick Barnes Adrian Johnson Daniel Stanford Marcus Phayre-Mudge Matthew Sethard-Wright Gavin Corr Mehrdad Noorani Maggie Cowell Andrew White James Wilkinson Martin Weisinger Howard Thomas Chris Currington Mark Denny Michael Baker Joanne Elliott James Young Katie Blacklock Abigail Kuti Matthew Inglis Stefan Benedetti Karim Pabani Simon King John Davitte Dean Kushin Katherine Gregory Mark Francis Rodney Thomas Christian Roos Michael Sell James Beddall Ann-Marie King Nuno Vieira Zafar Zohidov George Gay Stephen Barrett Sarah Dillon Kyle Edwards-Brookes Amy Xie Nicola Williamson Michael Woolley Jason Anderson Clare Hindley Lucien Najev Frank Engels Angelique Ello Hina Tailor Thomas Giles Paul Moulton Jack Mair Nikolaus Siegfried Stephen Basford Japan Equities - 5 Nigel Sillitoe Ian Smith Sonal Desai Petra Fleming Vanessa Lawley Huw Llewellyn James Richards Operations - 6 Michelle Lynch Hendrik Heicks Mark Fawcett Yuri Maslov Compliance and Matthew Orchard Rob Leahy Tom Ormrod Paul Colaco Risk - 3 Henry Cobbe Joe Allen Samantha Little Gemma Munford Brent Smith Chun-Hou Tan Innes Smith Nadia Samuels Simon Holmes Matthew Stinchcombe James Pratt Marc Franklin James Tappenden Marcus Horne Gloria McCleod Global Fixed - 3 Joris Nathanson Claudine Edwards Multi-Manager Emma Clarke Ben Joseph Paul Thursby Hedge - 7 Marketing - 7 Matthew Grigg Alex Kwok Peter Geikie-Cobb Legal - 2 Ken Kinsey-Quick Michael Warren** James Coats Helen Pike IT and Application Alex Kuiper Rosalind Smyth Denise Ruegg Amanda Cooke Support - 7 Bill Muysken Jason Collison Belinda Salmon Simon Williams European Neil Tunley James Rous Tamsin Webb Equities - 10 Dominic St George Craig Pescod Stan Chaudhry Ben Harris Geoff Bamber Tony Zucker Gary Dolan Sheena Wilkinson Philippa Peel Rohit Goel John Ferrario Robert Cockerill Christina Wiens Elkington Leo Mansfield William Kirby Chris Wright Ali Samiei Warren Turner Marco Bianchi Secretarial – 7 Alex Risby Multi-Manager David Naughtin Jeff Thomson Traditional - 5 Nicholas McKay Melanie Williams Dominic Booth Nicolas Ziegelasch Robert Burdett Anne Lamont Keith Gyles Thomas Brown Gary Potter Helen Stone Ryan Hayward Jonathan Parsons Anthony Willis Natalie Hayes Facilities - 1 Alex Rackwitz Jonathan Callow Vanessa Simpson Jeremy Woolcock Paul Green Niall O’Connor Phil Heady Samantha Fry Kelly Prior Odette Miseria *Staff count includes Nevsky Capital LLP, an affiliate of Thames River Capital LLP 9 **Director X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Investment Team Experienced… Focused… Innovative 8 Investment Professionals Head of Multi-Manager Ken Kinsey-Quick Management Risk Alex Kuiper Management Risk Bill Muysken Investment Risk TBA Opportunity Risk James Rous Operational Risk Stan Chaudhry Process/Compliance Risk Sheena Wilkinson Senior Fund Administrator Christina Wiens Elkington 10 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Investment Philosophy Simple Primary Objective: Capital Preservation (i.e. don’t lose money) Secondary Objective: Capital Appreciation (i.e. make money) Investment Philosophy Investment Philosophy Investment Strategy Investment Strategy Investment Process Note: there is no assurance that the investment objectives will be achieved and capital is not guaranteed. Investment Process 11 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Investment Strategy Adaptable Innovative Dynamic portfolio management Active risk management Investment Philosophy Investment Philosophy Investment Strategy Investment Strategy Investment Process Investment Process 12 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Investment Process Robust Portfolio Due Diligence Detailed Analysis: Qualitative Detailed Analysis: Quantitative Watch List Investment Philosophy Investment Philosophy Screening: Qualitative Investment Strategy Investment Strategy Screening: Quantitative Information Sources (6,000+ managers) Investment Process Investment Process 13 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Thames River Warrior / II Fund “Targets” Target return 10 % + p.a. (net) Target return Target risk Target risk 5 - 10% standard deviation Target loss period no losing 12 months Target loss period Target max. drawdown <10% Target max. drawdown Note: targets are not guaranteed 14 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
Thames River Warrior II Fund Characteristics Multi-strategy Multi pronged approach Opportunistic absolute return focus Opportunistic absolute return focus “Rising Stars” focus 5-15 managers, ideal 5-15% allocations � � Core sub Core sub- -portfolio (50 portfolio (50- -100% 100% ) ) 0-33% allocations to any one style 0-10 managers, ideal 3-5% allocations � Seed sub � Seed sub- -portfolio (0 portfolio (0- -33% 33% ) ) “Equity” stakes, fee rebates, capacity negotiated Higher return opportunities, ideal 1-5% allocations � � Special situations sub Special situations sub- -portfolio (0 portfolio (0- -50% 50% ) ) Unconventional investments Option on diversified multi-strategy portfolio � Leveraged sub � Leveraged sub- -portfolio (0 portfolio (0- -10% 10% ) ) based on Sentinel No beta to equity or bond markets – pure alpha � � Currency Alpha sub Currency Alpha sub- -portfolio (0 portfolio (0- -10% 10% ) ) Dynamic allocation process On an absolute basis Moderate leverage By managers relative to their style peers Moderate leverage Strategic leverage at portfolio level Absolute parameters Portfolio volatility < MSCI World Index Tight risk management Tight risk management Relatively lower leveraged managers Developed by fund manager over 10 year period Robust investment process Robust investment process Flexible to adapt to the investment environment 15 X\Marketing\PPT PRESENTATIONS\Warrior II 0801 [FINAL].ppt
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