Managed Account Programme

PIA firstcapital is a trading division of Price Information Advantage Limited (PIA) who is authorised in the UK,

FSA Register No. 475828. Company number 6082865.

Risk Warning PIA firstcapital trade in financial instruments using leverage, including such instruments as futures and

foreign exchange. Trading leveraged products on margin carries a high level of risk, and may not be

suitable for all investors. The high degree of leverage can work against you as well as for you. Before

deciding to trade leveraged products you should carefully consider your investment objectives, level of

experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your

initial investment and therefore you should not invest money that you cannot afford to lose. You should

be aware of all the risks associated with leveraged products trading, and seek advice from an

independent financial advisor if you have any doubts.

The market information relating to the past performance of an investment is not necessarily a guide to

its performance in the future. The value of investments or income from them may go down as well as

up. Hypothetical and simulated performance results do not represent actual trading, may not account

for actual market factors and have many limitations. Your accounts may not achieve similar profits or

results. No representation is being made with respect to your accounts or circumstances, profits or

results. The value of investments may rise or fall due to the volatility of world markets, interest rates

and capital values or, for investments held in overseas markets, changes in the rate of exchange in the

currency in which the investments are denominated. You may not necessarily get back the amount you

invested.

PIA firstcapital is a trading division of Price Information Advantage Limited (PIA) who is authorised in

the UK, FSA Register No. 475828. Company number 6082865.

You say … “I am looking for

absolute returns in

all market

conditions”

“I want an

actively managed

investment”

“I understand high

returns are a

product of high

risk”

“I need a liquid investment

that is regulated and gives

me more control”

About Us

City of London

Location FSA

Regulated PIA firstcapital

All trades monitored and

managed in real-time.

10 year industry award

winning track record.

Experienced, professional

trading team.

PIA firstcapital

PIA first

Unique market sentiment

analysis service.

Our Team

The Executives

Simon Abbas, Chief Executive Originally from a financial background Simon has spent 25 years successfully building, developing, merging and selling a range of businesses across diverse

sectors, including Recruitment, Healthcare, Hospitality, Management Consultancy & Financial Services. His proven track record of optimising commercial

opportunities, effective management & strong business background has been integral to the PIA evolution over the last three years. His current primary role is

Chief Executive of Price Information Advantage Limited (PIA), of which he is both Director and Shareholder. CF1

Peter Shepherd, Managing Director Peter is a Senior Executive with over 20 year‟s international experience in finance and capital markets. With a classic marketing background, Peter has an

extensive track record of launching new ventures and products in financial services. Roles have included Commercial Director at LIFFE and Managing Director

at LCH.Clearnet, now focusing on investment management ventures. His current primary role is Managing Director for PIA firstcapital, the PIA investment

management division, and is both Director and Shareholder of PIA. CF1, CF30, CF10

Darren Courtney-Cook, Head of Trading Darren has over 20 years‟ experience in the financial markets. In the early 1990‟s Darren entered the Financial Futures world working as a pit trader on the

LIFFE floor (London International Financial Futures & Options Exchange) trading STIR contracts for brokers REFCO and Dean Witter. Darren was made

general manager of Turtle Futures Limited in June 2001 and in June 2010 Darren joined PIA firstcapital to head up the trading team. His current primary role is

Head of Trading for PIA firstcapital, and a Director of PIA. CF1

Philip Culver-Evans, Chief Financial Officer Phil has extensive senior management experience managing fast growing and changing businesses in both financial and operational roles. This includes

international expansion, restructuring, fundraising, M&A and direct involvement in both regulated and unregulated businesses. Phil is a qualified accountant and

has been a main board director of various firms over the last 20 years, which include national and international businesses, private and PLC, encompassing

recruitment, marketing services, and Financial and Corporate PR within the City. In recent years Phil has taken the entrepreneurial route and put his

accumulated knowledge to good use by investing in and running a portfolio of businesses including Financial PR, Care Homes, Hospitality, Management

Consulting and Financial Services. His current primary role is Chief Financial Officer for PIA, of which he is both Director and Shareholder. CF1

Our Products

Financial Futures

Managed Account

Foreign Exchange

Managed Account

Managed Futures

Managed futures as an asset class has been a global growth story, as more and

more individuals and entities look for uncorrelated returns to heavily weighted

stocks and property portfolios.

Source: CME Group. Managed Futures: Portfolio Diversification Opportunities 2010

Managed Futures

Managed futures trading advisors can generate profit in both increasing or decreasing

markets due to the their ability to go long (buy) futures positions in anticipation of rising

markets or go short (sell) futures positions in anticipation of falling markets. Moreover,

trading advisors are able to go long or short with equal ease.

Managed Futures (“CTA‟s”) clearly show a significantly more favorable long-term risk to return ratio

when compared to other major asset classes.

Long-term comparison of Managed Futures (CISDM CTA Index) vs. MSCI World Index to commodities (GSCI), gold and the Euribor (deposit).

-100%

900%

1900%

2900%

3900%

4900%

5900%

6900%

Inflation Cash MSCI Commodities Gold CTA’s Futures

Long term

comparison of

Managed

Futures from

Dec 1979 to June

2010

-75%

-55%

-35%

-15% Maximum

Drawdown

Managed Futures

Diversification

Diversification

Managed Futures are not historically correlated to equity markets and are liquid during

“fat tail” world events (below) which reduces client drawdown and enhances returns:

Diversification

Diversification

Diversification

Futures contracts traded: We trade a range of the major and highly liquid financial futures contracts on margin, currently including:

• 4 European blue chip equity index futures – German Dax30, UK FTSE100, French CAC40 and Dow Jones EuroStoxx50 indices

• 2 European Government bond futures – German 10 year (Bund) and 5 year (Bobl)

Futures contracts traded • Alpha A – an „Agile‟ trading strategy looking for opportunities across the range of futures

markets throughout the day (only available through Kinesis)

• Alpha I – trades the Bund and Dax30

• Alpha II – trades the Bund and FTSE100

Our Managed Futures

Performance Composite Index of all Managed Futures Strategies

The market information relating to

the past performance of an

investment is not necessarily a

guide to its performance in the

future. The value of investments or

income from them may go down as

well as up. Hypothetical and

simulated performance results do

not represent actual trading, may

not account for actual market

factors and have many limitations.

Your accounts may not achieve

similar profits or results. No

representation is being made with

respect to your accounts or

circumstances, profits or results.

The value of investments may rise

or fall due to the volatility of world

markets, interest rates and capital

values or, for investments held in

overseas markets, changes in the

rate of exchange in the currency in

which the investments are

denominated. You may not

necessarily get back the amount

you invested.

MONTHLY RETURNS

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

2009 15.33% 4.72% 20.05%

2010 2.88% 9.98% 2.25% 9.42% 7.99% 5.47% 1.58% 15.24% 20.83% 11.36% 4.54% 1.54% 93.07%

2011 0.14% -6.52% -1.72% -1.14% -5.61% 5.90% -3.96% 8.16% -1.94% -2.50% 1.49% 1.36% -6.36%

Returns Net of Fees?Yes

Management Fee No PIA firstcapital receives trading fees rebates from its brokers in lieu

Performance Fee Yes 30%

Highwater Mark? Yes Performance fees are calculated on a standard 'peak to peak' method

Performance More Vital Statistics

ANNUAL RETURNS

Period of Simulated Trading

Period of Trading with Live Money

Net Return to date

No of Years

Last 12m Net Return

PERFORMANCE ANALYSIS

Average Daily Return 0.28%

Highest Daily Return 5.32%

Lowest Daily Return -5.10%

Average Daily Gain 1.43%

Average Daily Loss -1.23%

Max Drawdown -20.24%

Standard Deviation 1.46%

1/11/2009 - 3/09/2010

7/09/2010 - 31/12/2011

106.76%

2 Years 3 Months

-6.36%

The market information relating to

the past performance of an

investment is not necessarily a

guide to its performance in the

future. The value of investments or

income from them may go down as

well as up. Hypothetical and

simulated performance results do

not represent actual trading, may

not account for actual market

factors and have many limitations.

Your accounts may not achieve

similar profits or results. No

representation is being made with

respect to your accounts or

circumstances, profits or results.

The value of investments may rise

or fall due to the volatility of world

markets, interest rates and capital

values or, for investments held in

overseas markets, changes in the

rate of exchange in the currency in

which the investments are

denominated. You may not

necessarily get back the amount

you invested.

Tax Effective

Self Invested Personal Pensions (SIPPs):

• Capital Gains exempt

• Tax efficient (depending on personal circumstances)

• Over 30 different providers available through our broker partners

Kinesis:

• Offered through our partner Capital Financial Markets Ltd.

• Spread bet structure

• Tax free returns (depending on personal circumstances)

• High quality market analytics & trading

• Proven intraday trading strategy

• Source of uncorrelated returns

• Profit & Loss allocated every day

• Tax effective investment options

• Monthly statements reconciled to your account

Summary

Contacts

PIA firstcapital

2 London Wall Buildings

London, EC2M 5UU

Email: peter.shepherd@pia-firstcapital.com

Tel: 08448 74 74 40

www.pia-firstcapital.com