Aberdeen Asset Management PLC is an international investment management group, managing assets for both institutional and retail clients from offices around the world. Their goal is to deliver superior fund performance across diverse asset classes in which we believe we have a sustainable competitive edge. Listed on the London and Singapore stock exchanges, they manage fixed income and equities (quoted and private) in segregated, closed and open-ended pooled structures.

Barclays Capital is the investment banking division of Barclays Bank PLC which has an AA long-term credit rating and a balance sheet of over US$1.9 trillion. Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs including:
Bonds
Commodities
Credit products
Equity derivatives
Inflation-linked products
Interest rate products
Foreign Exchange Leveraged Finance
Loans
Emerging Markets
Prime Services
Private Equity
Securitisation

Barclays Capital has offices in 26 countries, employs over 13,200 people and has the global reach and distribution power to meet the needs of issuers and investors worldwide.

Dexia Asset Management, the asset management division of the Dexia group, offers Private Estate Life the expertise of a multi-specialist in asset management. The investment process implemented consists of a rigorous approach to portfolio structuring; the goal is to achieve steady and lasting performance. This daily performance has been recognised by scores of international awards presented by licensed specialists, including Moody's, Micropal, La Tribune, La Vie Financière and others.

Fidelity International Limited (FIL) was founded 40 years ago and manages over 167.1 billion EUR for million investors worldwide (31 March 2008). Fidelity’s investment strategy differs from the other fund managers’ strategy as it is based on an approach "bottom-up" and an in-depth analysis of the companies. 

JPMorgan Fleming Asset Management, the asset management arm of JPMorgan Chase, is one of the largest investment management houses in the world, managing over USD 828 billion on behalf of private and institutional investors around the world.
JPMorgan Fleming offers expertise in a broad range of asset classes, including equities, fixed income, liquidity, managed currency and hedge funds and invests across all major markets and also emerging market regions. In this way, JPMorgan Fleming Asset Management aims to offer its clients the widest range of investment solutions to help them meet their objectives. JPMorgan Fleming's investment teams are spread across Europe, the Americas, Japan and Asia-Pacific. 

Franklin Templeton Investments is a worldwide group constituted of four investment managers founded in the United States in the early 40’s: Franklin, Templeton, Mutual Series and Fiduciary Trust. By sharing their knowledge of the financial markets, these companies have facilitated the development of four independent management teams using different investment styles that complement each other.
Listed on the New York, San Francisco and London Stock Exchanges through its holding company Franklin Resources Inc, the group today employs close to 7000 employees in 50 offices worldwide. With more than USD 450 billion assets under management (as of June 30, 2005) and 11 million client accounts, this world leader concentrates all its expertise on one sole business: the management of investment funds.

UBS Global Asset Management is one of the world’s leading asset managers, providing traditional and alternative investment management solutions to private clients, financial intermediaries and institutional investors worldwide. 
The company offers over 400 investment funds, exchange traded funds and other investment vehicles, across all asset types in country, regional and industry sectors, which are distributed principally through financial intermediaries. It has a diverse institutional client base located throughout the world, including corporate and public pension plans, endowments and private foundations, insurance companies, governments and central banks, and Supranationals. 
UBS Global Asset Management employs some 2,800 employees, of which 750 are investment professionals (traditional investments, alternative and quantitative investments and real estate), located in 20 countries. Main offices are in Chicago, London, New York, Tokyo and Zurich. As of 30 September 2005, invested assets totaled some CHF 737 billion, making it the largest fund house in Europe  and the largest mutual fund manager in Switzerland. It is a business group of UBS, one of the world's leading financial firms, which also includes the world's largest wealth manager, a premier investment bank and securities firm.

Gartmore adopts a team-based approach to investment management. The heart of Gartmore philosophy lies in the discovery of the unexpected; the ability of a company to generate earnings that will exceed or be sustained beyond market expectations. Share prices usually reflect what the market expects. Gartmore aims to seek out companies where we believe the market has underestimated the prospects for earnings. Just as importantly, Gartmore aims to avoid those where future earnings are likely to disappoint. The main differentiating feature of Gartmore's research process is Gartmore's unique approach to identifying and quantifying unexpected earnings. At the heart of this approach is a comprehensive assessment of industry and franchise dynamics. Risk management is an integral part of the Gartmore's equity investment process and aims to provide better returns per unit of risk. Gartmore manages risk on four levels – stock, sector, country and portfolio.

The Compagnie Financière Edmond de Rothschild is the French banking subsidiary of the LCF Rothschild Group. 
Headquartered in Paris, the firm has nearly EUR 20 billion in assets under management. 
With a reputation as one of the most innovative multi-style, multi-class asset managers, the Compagnie Financière Edmond de Rothschild offers a wealth of expertise in equities and fixed income management, diversified management, traditional and alternative multi-management, structured products and private equity.
Edmond de Rothschild Asset Management is the investment management arm of the LCF Rothschild Group. The quality and consistency of its long-term investment performance are reflected in the numerous awards regularly received by the firm.
Edmond de Rothschild Asset Management is regularly ranked among the best equity fund managers in Europe by Global Investor/Morningstar. The firm's leadership is further enhanced by the fact that it has been rated the “most recommended” asset manager by independent financial advisers in almost every year since 1998.

Founded in 1929, Robeco is both the oldest fund manager in Continental Europe, and the inventor of the SICAV concept. Today, it is one of Europe's leaders in asset management with more than EUR 120 billion under management (June 2005) for more than one million retail investors and 700 institutional customers. Thanks to the quality of its management methods and its rigorous and disciplined investment process, the long-term performance of funds managed by Robeco has an excellent track record. Robeco is now a wholly-owned subsidiary of Rabobank, one of the most solid financial groups in the world.

The Société Générale Group is today the 5th banking group of the euro zone. Its department "Equities and Indexes Derivatives" (DEAI) holds 1220 people present on all the major stock exchanges. World leader on the market of the structured products, DEAI was awarded "Equity Derivatives House of the Year" by The Banker (2003 and 2004), Risk Magazine (2001 and 2002) and IFR  (2001) in particular for its capacity of innovation. Private Estate Life chose DEAI, which is renowned for its expertise and its capacity of innovation recognized by the industry, as privileged supplier of structured products.

INVESCO Asset Management is part of the AMVESCAP group, one of the biggest managers of independent funds in the world. AMVESCAP in figures:
- Over USD 373.2 billion in assets managed, as of 30 June 2005, for clients spread all over the world;
- Over 600 investment specialists, who contribute to maintaining and developing unique expertise vis-à-vis the competition;
- Some 6,500 employees, who will provide optimal monitoring for clients, whether institutional or private;
- A share listed on the major international exchanges and forming part of the FTSE 100 and MSCI World.

Fortis Investments is a multi-centre, multi-product global asset management company. As a result of the integration of the asset management activities of ABN AMRO Asset Management, Fortis Investments has assets under management of EUR 218 billion*, with over 50% of its revenues generated from third-party clients. With dominance and strength in Europe, a substantial position in Asia and an enlarged footprint in the Americas, the company has a true global presence, with sales offices and some 40 dedicated investment centres located around the world. Fortis Investments offers international investment solutions while meeting the requirements of local investors, both institutional and wholesale retail. Employees in the combined entity number over 2000, of whom around 600 are dedicated investment professionals. Activities range from institutional portfolio management to the development and management of mutual funds, such as the Fortis L Fund, which has some 160 sub-funds. Fortis Investments is a client-driven organisation that uses a disciplined investment process to satisfy its clients’ varied needs.
*All proforma figures per April 1 2008

Founded in 1989 by stockbroker Edouard Carmignac, Carmignac Gestion is one of the leading independent management companies in France. Since January 1999, the company has had a subsidiary in Luxembourg responsible for international development. 
KEY FIGURES 
- Société Anonyme (French public limited company) with share capital of 15 million euro 
- Equity totalling 50 million euro 
- Capital held entirely by management and employees  
- Over 4.5 billion euro in assets under management in UCITS and mandates (as of 30/11/2005)
- Over 70 employees, including 7 managers and 2 analysts.

Since it was founded in 1988, BlackRock® has become a premier provider of global investment management and one of the largest asset management companies with more than US$1.3 trillion assets under management and clients in more than 60 countries. After a series of successful mergers and
acquisitions, BlackRock is now able to propose a broad range of investment solutions across equity, fixed income, cash management and other
alternative investment strategies. With more than 50 offices, 5.500 employees and over 700 investment professionals around the world, BlackRock
can benefit from its global infrastructure and local expertise to provide clients with high-level asset management, investment solutions and risk
management tools.

Since its foundation over 135 years ago, Goldman Sachs has grown to become a pre-eminent global investment banking, securities and asset management firm. 
Its subsidiary, Goldman Sachs Asset Management, was formed in 1988 to provide investment management services to a diversified client base. 
Within this structure, dedicated professionals are responsible for managing relations with life insurance companies and specialised investment management firms, and providing discretionary investment advisory services. 
Clients include pension funds, trusts and charities, public and private sector corporations, institutions and high net worth individuals. 
As of 30 September 2005, the firm managed EUR 391 billion in assets on behalf of clients globally. 
Goldman Sachs Asset Management has investment professionals in all major international financial centres, including New York, London, Singapore, Shanghai and Tokyo, as well as professionals in the main financial centres in Europe.

Founded in 1933, Morgan Stanley has become a global financial services firm and a market leader in securities, investment management, and credit services. Our distinguished pedigree encompasses a record of historic firsts: in national and international expansion, in the use of new technologies, and in the development of new financial tools and techniques that have redefined the meaning of financial services for individual, institutional and investment banking clients. Morgan Stanley, with more than 600 offices in 28 countries, connects people, ideas and capital to help clients achieve their financial aspirations. 
The firm's investment management division, with around 400 investment professionals around the world, manages assets in excess of USD 424 billion and offers wealth management services to a diverse client base: governments, corporations, pensions, non-profit organizations and individuals. 
Around the world, the team shares a single goal to help clients achieve their long-term investment objectives by providing high quality products with first rate performance and an unmatched level of service. 

Petercam is a leading independent and integrated non-bank financial intermediary in Benelux, employing almost 400 people. Established in 1968, it is owned in partnership by shareholders from the founding families and a number of group executives. 
Petercam’s core activities are institutional sales and trading, corporate finance and private and institutional asset management. Research is split into macro-economy strategy and micro analysis. The asset management team is based in Brussels.

Danske Capital, the asset manager of Danske Fund, is one of the largest international asset manager with offices in Denmark, Sweden, Norway, Finland and Luxembourg. Danske Capital has an attractive track record: in June 2004, Morningstar has attributed it the second place in Europe for bond funds. As of 30 June 2005, Danske Capital had EUR 59 bn under management. 
Danske Capital, part of the Danske Bank, stands for:
- about 232 employees
- experts in analysis and investment advice with years of international experience
- a team of specialists that follows up the markets very closely and continually negociates for the best in the markets
- state-of-the-art system support - ensuring decision-making based upon in-depth research of data from all over the world
- investment politics based upon long term strategies for specific markets, activities and clients. 

Capital@Work is a leading European asset management firm, managing assets for institutional and private clients worldwide. Founded in 1990, Capital@Work has 8 offices throughout Europe. The Capital@Work objective is to protect and increase our client's wealth through above average investment returns and below average risk. They think this ambitious goal can be achieved with a simple and straightforward investment strategy: the ownership of high quality but undervalued assets. For several years, Capital@Work has delivered outstanding results in various assets classes. Capital@ Work has won several Micropal and Morningstar awards. This excellent track record is the result of Capital@Work’s value-oriented investment philosophy, based on rigorous analysis of the enterprise value and the free cash flow generation of each company.

M&G was founded in 1901 as the financial arm of a British engineering company and revolutionised British finance in 1931 when it launched the first-ever mutual fund for the general public. Since that time the firm has concentrated on the management of investment funds. In 1999, M&G merged with Prudential plc, one of the largest global providers of financial services with more than 19 million customers, 21,500 employees and a market capitalisation of EUR 17.0 billion. Based in London, M&G now manages investment funds for its individual and institutional clients, and also acts as European investment manager for Prudential plc. The investment of equity assets outside Europe is outsourced to Prudential’s overseas investment offices in the US, South Africa, Singapore, Hong Kong and Japan, although M&G also manages global equity funds from its London office. M&G has funds under management with a total value of EUR 208.7 billion as at 30 September 2005, making it one of Europe’s leading fund providers. 
M&G International Investments Ltd, the international fund business of M&G, was launched in 2001. In the same year, the first local branch office of M&G International was opened in Berlin to handle client business in Germany, Austria and Luxembourg. In late 2002, a further office was opened in Milan for Italian clients. In 2005 offices were also opened in Vienna and Frankfurt for local client business, and distribution of M&G funds commenced in Switzerland.

Crédit Agricole Asset Management is the management company of the Crédit Agricole group, 100% affiliated with Crédit Agricole S.A., a solid and powerful actor, positioned in the first rankings of world banks with 68,8 billion euros in assets and 134 000 employees in 60 countries. Crédit Agricole Asset Management is now No. 1 in France in collective management and the European leader in asset management:

• staff of more than 1700, including 409 management professionals*,
• 8 management centres all over the world,
• 402.1 billion euros under managed*.
  (*Asset management pole of the Crédit Agricole group on 30 September 2005)       

DNCA Finance, founded in 2000 by finance professionals, is an independent management company that has received accreditation from the AMF, the French Financial Authority. It has attracted experienced and well-known managers.
Since April 2007, DNCA FINANCE is owned by the Gruppo Banca Leonardo. The participation of this Italian group allows managers to operate in complete objectivity, according to their beliefs and acting only in the customers’ best interests. DNCA Finance’s management philosophy is based upon “stock-picking,” a non-index management strategy relying on a meticulous, structured investment process, whose primary goal is to optimise the risk/return ratio. Only a free and active management strategy able to break away from the indices can achieve top-level performance over the long term while reducing the risks associated with market volatility.

- A leader in “stock-picking” management for European securities 
- 15 years of absolute performance
- Asset management for private and institutional investors.  
All of Financière de l’Echiquier’s investment decisions result from its "stock picking" management process. This process, used systematically since the company’s creation in 1991, gives primary importance to qualitative and quantitative criteria such as the quality of the executive team or the quality of a company’s financial structure. The investment strategy is either “GARP” or “value” oriented, uncorrelated with the indices, and able to give managers who seek absolute performance wide room to manoeuvre. Financière de l’Echiquier was named “Best Equity Manager” for its entire line by Lipper France in 2004 and was elected the best performing French management company in France in 2005 by the Alpha League Table (Europerformance-Edhec-Risk).

Richelieu Finance Gestion Privée is a management company founded in 1985 by stockbroker Gérard Augustin-Normand. Today the company has 80 employees and manages over 4 billion euro in assets. Richelieu Finance is characterised by one primary activity: third-party asset management. Its “cardinal management,” executed in complete independence, is an active management strategy at the opposite end of the spectrum from index management.  It is based on analysing a company’s fundamentals, without restrictions on sector or capitalisation size, and meticulously selecting stocks that are undervalued by the market.

Nordea is the leading financial services group in the Nordic and Baltic region, and is one of the 20 largest European banks in terms of market capitalisation. It has some 29,000 employees, almost 11 million customers, 340 billion euro in total assets, and 147 billion euro in assets under management. Nordea Investment Funds S.A. is the European distributor of Nordea Group’s funds and the manager of its Value Fund line, the winner of several awards. The Group promotes a carefully selected range of funds across Europe through a highly active network of intermediaries including banks, investment managers, independent financial advisors, and insurance companies. Its flagship product is Nordea 1 SICAV, comprising 32 sub-funds including value-based equity funds, thematic equity funds, bond funds and money market funds, all of which capitalise on Nordea’s expertise.

Founded in 1805 in Geneva, Pictet & Cie is today one of Switzerland's largest private banks, and one of the premier independent asset management specialists in Europe, with over CHF 369 billion in assets under management and custody as at end-December 2006.

The Bank is a partnership currently owned by eight general partners who have unlimited liability.

The Pictet Group is an asset management specialist focusing mainly on the following areas of expertise: private and institutional asset management, fund
administration and management, global custody and Family Office services.

The Rothschild name has appeared in financial history since the 18th century when Mayer Amschel Rothschild sent his five sons to establish themselves
throughout Europe (Paris,London, Francfurt, Vienna and Naples), that symbolise today the five arrows in the family emblem.
The Rothschild & Cie Banque Group, which was inherited from the Banque rue Laffitte (created in 1817 by James de Rothschild) was founded in 1982 by Eric and David de Rothschild. Rothschild & Cie Gestion is 100% owned by Rothschild & Cie Banque. Its sole activity is to manage assets for third parties.
It has on 31th March 2007 over € 17 billion assets under management through a range of funds invested in all types of assets (equity, bonds, alternatives,...) in all geographic zones.
Its aim is to meet the needs of the Institutional clients, Private Banks and Independant Financial Advisors, in terms of performance as well as in terms of
service.

In April 2007, the Fitch Ratings agency attributed the rating "AM2-" to Rothschild & Cie Gestion for its collective and institutional management as well as multi management.
This rating stands for "an excellent level of quality in terms of security and risk management related to the activities of asset management".

Tocqueville Finance is an independent portfolio management company registered with the Autorité des Marchés Financiers (the French securities and exchange authority) in 1991 to develop a French and European client base, through a service of fund management, founded on the international competences of the group: Paris, New-York, Genève.

Today, Tocqueville Finance has 52 employees, manages 4.5 billion euros in assets for private and institutional clients, either directly or through mutual funds distributed by its partners such as wealth managers, Brokers, Banks and Insurance Companies.

In January 2003, Tocqueville Finance opened a subsidiary in Geneva, destined to promote its fund range to institutionals in Europe, in particular in Luxembourg and Switzerland. This company is fully owned by Tocqueville Finance Paris.

Its management philosophy: "Value" and "Contrarian".
Whether it is applied to the management of private or mutual funds, the philosophy remains the same: to preserve the capital that is entrusted to them. Managers look for reliable performance over as long a period as possible, whatever the market situation.

KEREN FINANCE is an independent fund management company that was created on 1 January 2001 by Raphaël Elmaleh and received accreditation from the AMF, the French Financial Authority, on 26 January 2001, operating under registration number GP 01-001. It carries out its asset management business via UCITS and management mandates for third parties. The “cornerstone” of its strategy is steady performance, searching for reduced volatility, which is obtained via non-benchmarked management, coupled with a rigorous selection of stocks.

Since March 2007, Degroof Fund Management Company (D.F.M.C.) has been the new name of the Belgian subsidiairy of the Bank Degroof, in charge of the UCITs management. Due to the reintegration of institutional portfolio management activities (except for UCITs) within Bank Degroof, this name better qualifies the activity of Belgian or foreign UCITs management which is the object of the company.

D.F.M.C. is specialised since several years in quantitative and behavioral management of equities. The investment process, which is based upon « value investing » and indexation, has through the years convincingly showed its efficiency, judging by the Rankings attributed to individual funds as well as to the global management. In 2006 Bank Degroof was awarded the « Best Private Bank » price by Euromoney magazine.

Leonardo Asset Management (Leonardo AM), was created on 29th August 2007 and has received accreditation by the CSSF ("Commission de Surveillance du Secteur Financier"). It is a wholly-owned subsidiary of DNCA FINANCE in Luxembourg, which has been created in its aim for a PanEuropean development.

Leonardo AM promotes a SICAV whose management is dedicated to DNCA FINANCE and Leonardo SGR (management company of Banca Leonardo Group in Italy, partner of DNCA FINANCE). Three of its compartments replicate the French FCPs created by DNCA FINANCE: Centifolia Europe, DNCA Evolutif and Eurose. And, besides these clones, the SICAV has a monetary and a bond compartment (managed by Leonardo SGR), a value compartment that is dedicated to the Italian market, and « Leonardo Infrastructure Fund Europe » (managed by DNCA FINANCE), a compartment dedicated to European infrastructures and utilities.

Founded in 1727, The Royal Bank of Scotland (RBS) is one of the oldest banks in Europe. Over the time The Royal Bank of Scotland has won recognition and respect as one of the largest and fastest growing banking groups in the world and one of the most compelling banking stories of the decade. RBS is now the second biggest bank in Europe, with subsidiaries all over the world.

RBS Global Banking & Markets provides financing and risk management solutions for large corporate, financial institutions and governments.

In addition to our position as one of the world’s largest lending banks, we have a world class capability across interest rate, credit, foreign exchange and inflation products, We differentiate ourselves by delivering completely bespoke structured products, as well as innovative and competitive solutions on all those asset classes, and both on the asset and on the liability sides.

Insight Investment Management (Global) Limited (‘Insight’) is an industry-leading UK-based asset management company. It is a private limited company and a wholly owned subsidiary of the HBOS Group, one of the largest banking groups in Europe.

Our parentage brings the benefits of strategic strength and stability, whilst at the same time we also function autonomously. This ensures a clear focus on understanding the marketplace and providing solutions that help us to achieve our clients’ objectives.

The origin of the Insight brand lies within Clerical Medical, one of the UK’s oldest investment managers having been founded in 1824, that was re-branded Insight Investment Management Limited in 2002. In January 2003 Insight proceeded to announce its acquisition of Rothschild Asset Management who had been managing money since 1804. Since this time, Insight has appointed a new executive body and restructured its investment platform to be able to provide clients with a new and broader range of investment solutions. We are one of the largest UK-based fund managers with €152.9 billion of assets under management as at 30 September 2007. We manage money for private investors, pension funds, insurance groups and other institutions, as well as providing the investment expertise.