Introducing Barclays MultiManager

Introducing Barclays MultiManagerElegant investing for all-weather returns

Wealth and Investment Management

“An institutional-style solution for

clients wishing to maximise returns by

diversifying their wealth across managers,

asset classes and regions.”

Jaime Arguello, Head of Barclays MultiManagement

1Introducing Barclays MultiManager |

Fund overview

Portfolio manager

Jaime Arguello 25 years investment experience

Portfolio features

MultiManager portfolios are currency-hedged and diversified across traditional asset classes, regions and third-party managers.

Outperformance is generated via exposure to third-party investment managers and the implementation of asset allocation views.

* Rather than selecting and monitoring several individual funds, the investor holds only one share. Portfolio changes - such as rebalancing, tactical tilts or changes to managers - are implemented by the fund manager.

As a market return product, the value of the investment could go up and down, and you could lose money.

The Barclays MultiManager range is

built on the foundations of Barclays’ best

investment thinking. It offers investors,

of any size, a simple, sophisticated, and

single-access means of gaining exposure

to the world’s best investment managers,

while simultaneously diversifying across

asset classes and regions.

Benefiting from a blend of some of

the leading institutional and boutique

investment managers in the world, this

range aims to deliver optimal returns at a

reduced level of risk, volatility and cost.

Fund manager Jaime Arguello draws on

the asset allocation and market views of

Barclays’ investment expertise to actively

adjust the portfolios’ positioning across

fixed income and equities, locking in long-

and short-term opportunities as they arise.

With Barclays’ award-winning GlobalAccess

fund-of-funds range as the building blocks

of the portfolios, MultiManager is a ‘turn-

key’ solution for accessing the Barclays

Investment Philosophy – the culmination of

our expertise in investments, behavioural

finance and asset allocation.

Barclays asset allocation

Welcome

Cash and Short Maturity BondsHelps to insulate portfolios against short-term losses, particularly for low risk tolerant investors

Emerging Markets EquityHigh returns over time with higher risk. But risk-adjusted returns may also be greater

Developed Government BondsHigher yields than cash, low risk, and protection against deflation

Investment Grade BondsCredit losses are small relative to the additional yield investors can earn

High Yield and Emerging Markets BondsAs with investment-grade credit, losses are small relative to the additional yield investors can earn, however there is greater risk and more opportunities for active managers to outperform benchmarks

Developed Markets EquityStocks have generated higher risk-adjusted returns than bonds over long periods of time, historically

Our Investment Philosophy combines insights from the

science of behavioural finance with the techniques of

modern portfolio management to deliver performance that

is optimised for the risk profile and financial personality of

each investor.

As the cornerstone of our investment thinking, our

Investment Philosophy aims to help us understand the

unique needs of each client and allows us to:

• Meet each client’s investment needs

• Deliver an appropriate level of diversification

• Ensure that each portfolio has access to the most

appropriate asset classes at a competitive cost

• Incorporate our long-term market views

Barclays has committed

significant resources

into developing long-

term asset allocations

for the different

portfolios with each

designed to achieve an

optimal balance of risk

and reward.

In addition, the asset

allocation of each

portfolio is actively

managed on an

ongoing basis through

the implementation

of long-term strategic

asset allocation and

short-term tactical

adjustments.

Cost-efficient investing• Multimanager investing can be a cost-efficient

means of accessing several managers via a single

investment vehicle, and is likely to be less expensive

than if you bought the managers individually

• Investors can access the range on a US dollar,

sterling and euro-denominated basis. All portfolios

are currency-hedged back into their base currency

• Tax-efficient structure allows for asset allocation

changes in the portfolio without tax impacts. Tax

rules can change and whether they benefit you will

depend on your individual circumstances. Barclays

does not offer tax advice

What is the Barclays Investment Philosophy?

Pote

ntia

l ret

urn

LowLow

Moderate-Low

Risk profile

Moderate Moderate-High High

High

Barclays MultiManager comprises five risk profiles. Each portfolio is designed to meet a range of risk-return preferences. The illustration below represents how each risk profile is designed to perform.

Cash and Short Maturity Bonds

Developed Government Bonds

Investment Grade Bonds

High Yield and Emerging Markets Bonds

Developed Markets Equities

Emerging Markets Equities

54%

24%

12%

7%

12%

11%

9%

15%

45%

7%

34%

15%

4%

8%12%

19%

7%

5%

8%

5%

15%

19%

54%

58%

14%

12%

6%

4%

3%

2%

2


Key fund features

Barclays is one of the biggest multimanager providers in

Europe, with £7 billion under management.

Our multimanager strategy is accessible via five risk

profiles that have been designed to maximise risk/reward,

while still reflecting the variation in risk attitudes of our

client base. The five portfolios differ in the balance of

equities, bonds and other investments that they may

contain, but are otherwise managed in the same way.

The asset allocation of each portfolio is actively managed

by implementing our long-term strategic asset allocation

views, in conjunction with house-wide medium-term

adjustments that allow the manager to act nimbly as

opportunities arise. Investments are mainly implemented

via the Barclays GlobalAccess range – a market leading

suite of single asset class funds that selects and blends

some of the best names in the investment universe.

With £7 billion of assets invested, the size of our mandates

allows us to access leading managers on an institutional

basis, thereby passing on the following benefits to our

clients:

• An open door into the leading institutional and boutique

investment management houses – many of which are

not available to the individual investor

• The scope to negotiate highly competitive terms, along

with agreeing customised investment parameters for all

of our third-party managers

• Full visibility of investment activity across the underlying

funds, along with the ability to allocate our own

extensive resources to the selection and monitoring of

managers

Three tiers of expertiseThe Barclays MultiManager range employs

an investment process that benefits from the

contribution of three distinct levels of internal

and external expertise:

Asset allocation: long-term strategic (five years)

and tactical (six months) asset allocations that

inform the fixed income and equity exposure

of the fund. These positions are defined by

a committee of senior Barclays investment

experts.

Portfolio management: positioning within

each asset class and market is defined by the

portfolio manager, based on Barclays’ strategic

and tactical allocation views.

Security selection: individual security selection

is implemented through our chosen third-party

managers, each boasting extensive and proven

expertise in their asset class.

The Barclays GlobalAccess range is a suite of single

asset class, manager-of-managers funds, overseen by

a dedicated Barclays investment expert. By blending

managers of different investment styles and approaches

– each working to an institutional-style, segregated

mandate – the funds are designed to generate a smoother

investment journey, while aiming to achieve superior

returns.

The GlobalAccess funds benefit from a diversified open-

architecture approach that draws on the stock-picking

skills of more than 45 specialised asset management

houses from across the industry.

Our building blocks: Barclays GlobalAccess funds

Facts and figures • Over 400 manager meetings a year

• 20 single asset class funds managed

• Over 45 segregated mandates awarded to

managers across regions ®

4


Our strong track record for generating outperformance

for our clients has been built on the back of the consistent

application of our investment process, and driven forward

by the efficient deployment of our market views. While

we cannot guarantee investment returns – or remove the

possibility of loss – over the last five years (to 31 December

2013), the MultiManager range has delivered improving

relative returns, and most risk categories in the range are

ahead of their peer group average.

The majority of our underlying GlobalAccess funds have

maintained a strong record for outperforming their

benchmarks, on a net basis, over three years:

• 100% of GlobalAccess equity funds have outperformed

benchmark over three years, as at 31 December 2013

• 100% of GlobalAccess fixed income funds have

outperformed benchmark over three years, as at 31

December 2013

• 50% hold a 5-star or 4-star Morningstar rating, as

at 31 December 2013

Past performance of the range, underlying funds and

managers is not indicative of future performance.

Morningstar rated funds

• Global High Yield Bond

• UK Opportunities

• Emerging Market Equity

• Global Corporate Bond

• Global Inflation Linked

• Emerging Market Debt

• Pacific Rim ex-Japan

• Japan

Lipper awards

Barclays Wealth

and Investment

Management has

won an award for

performance of

its Global High Yield Bond (Income) fund in the category

of Bond Global - High Yield, over three years, at the Lipper

Fund Awards 2011 and 2012.

The Lipper Fund Awards recognise excellence in fund

performance and winners are selected on the basis of

consistently strong risk-adjusted returns. The Barclays

Fund beat over 130 of the largest funds in its universe to

win this accolade.

A question of currencyTo help mitigate the impact of currency fluctuations

on portfolios, the Barclays MultiManager range

can be accessed on a US dollar, sterling and euro-

denominated basis.

Performance

Awards and competitive landscape

6


The MultiManager range is managed by Jaime Arguello,

Head of Barclays MultiManagement. Jaime is supported

by the Barclays MultiManagement team, which also

manages the GlobalAccess range and comprises eight

fund managers and investment specialists with a diversity

of experience. Their backgrounds range from former fund

Our expertise• A dedicated team of investment professionals

with 10 years average investment

management experience

• Senior members of the team have direct

asset management experience in both fixed

income and equities, providing a competitive

advantage in manager selection and portfolio

construction

• Longstanding experience of manager

blending

• Extensive knowledge of the investment

universe

• To identify and combine investment talent to

provide high conviction portfolios

• To implement a team-based approach while

benefiting from specialised coverage of

individual asset classes

Our people

managers to experts in multimanagement and manager

selection.

Each asset class in the range is covered by a dedicated

Barclays fund manager in order to ensure a high level of

specialisation.

Value of investments The value of these investments, and any income from

them can fall as well as rise. So you might not get

back what you originally invested. Neither capital nor

income is guaranteed.

Derivative exposureSome funds invest in derivatives as part of their

investment strategy, over and above their use for

Efficient Portfolio Management (EPM). Investors

should be aware that the use of these instruments

can, under certain circumstances, increase the

volatility and risk profile beyond that expected of a

fund that only invests in equities. Funds may also

be exposed to the risk that the company issuing the

derivative may not honour their obligations which in

turn could lead to losses arising.

Item ref: IBIM3455 October 2014

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Introducing Barclays MultiManager