multi-asset intelligent passive portfolios (ipp)...quiet christmas period, with gem and the uk...

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Risk Controlled Investment Management

MULTI-ASSET

INTELLIGENT PASSIVE PORTFOLIOS (IPP)

Portfolio Fact Sheets for

January 2018

Intelligent Passive Portfolios (IPP)

Key Features and Benefits January 2018

Overview

Marketstar offers a range of five risk-rated passive multi-asset portfolios to suit the needs of cost-conscious investors from the more cautious to the more adventurous. The portfolios are managed by our investment team to remain within the risk parameters at all times. The portfolios are available on leading independent platforms in a variety of tax wrappers including General Investment Accounts, NISAs, SIPPs, SSASs, Personal Pensions, Onshore and Offshore Investment Bonds. All Intelligent Passives are managed to risk categories defined by Defaqto - your financial adviser will help you choose the portfolio which is right for you. Our Intelligent Passive range was launched on 1st October 2014.

Range of Portfolios

Intelligent Passive Portfolios (IPP) Defaqto Risk Rating

Defaqto Risk Description

IPP Defensive Growth Defaqto 3 Cautious

IPP Conservative Growth Defaqto 4 Cautious Balanced

IPP Diversified Growth Defaqto 5 Balanced

IPP Dynamic Growth Defaqto 6 Balanced Growth

IPP Speculative Growth Defaqto 7 Growth

What are ‘Intelligent Passives’?

Our investment team constructs multi-asset portfolios using a robust, proprietary ‘five-layer’ research framework. This incorporates quantitative and qualitative relative valuation, macroeconomic, political and technical analysis, before moving to asset selection. Intelligent Passives invest in a broad spread of asset classes to limit risk through diversity. They are constructed using up to 100% low cost ‘tracker funds’ but with the ability to deploy up to 30% in active components to access additional asset classes such as physical property and alternative strategies. Details of the major asset classes, investment sectors, geographical spread and top holdings can be found on each portfolio factsheet.

How are we different?

• Downside Risk Focus: our first priority is to significantly grow our clients’ capital over time, within the parameters of their chosen risk rating. Whilst risk must be taken to produce investment returns, a focus on limiting capital losses during periods of turbulence is equally important, and is a significant factor in our portfolio construction framework. Our outperformance over peers in periods of falling markets is a testament to this.

• Intelligent Cost Control: many of our clients want the advantages of a lower-cost investment solution with the benefits of broader diversification from additional asset classes that are not normally available in the traditional 100% passive solution.

• Lower volatility: we deploy your money primarily into “Passive” (index-tracking) funds, but add up to 30% in “Active” funds that aim to deliver lower than average volatility and better than average performance for each unit of risk taken; this can deliver steadier performance.

• Risk Management: we keep numerous asset classes and securities under review, allocating to and selecting those which we believe are likely to perform well in the medium term. Our rigorous investment process produces well diversified investment portfolios that sit within clearly defined risk parameters, leading to consistent risk adjusted returns for our clients.

• Meaningful benchmarks: to link our portfolios’ performance to a relevant and understandable benchmark, we use the Consumer Price Index measure of inflation. Whilst we monitor our performance closely against our peers, we have found that inflation-linked benchmarks are intuitively understood by our clients.

Key Features & Benefits

• Focus on downside risk • Attractive pricing • Rigorous investment process • Defined risk parameters • Meaningful benchmarks • Differentiated holdings • Potential for outperforming

100% passive portfolios

Structure – Segregated Portfolios

Portfolio Charges

AMC incl. VAT 0.29%

Typical OCF of underlying funds 0.39%

Total above 0.68%

AMC includes VAT where applicable. Some additional platform charges may apply – see your financial adviser for more details

Minimum Investment

Initial £1,000 Additional £500

What is Risk-Adjusted Performance?

Performance measured by the investment return of a portfolio relative to the risk taken to achieve that return. For example if two managers achieve the same return over the same period but one does so with lower volatility (risk) then that manager has delivered better ‘risk-adjusted performance’.

Where can I get further information?

For further information, please ask your financial adviser for more details or get in touch with our Client Support Team on +44 (0) 1278 773 552 or by email on [email protected]

mailto:[email protected]


Key Features and Benefits January 2018

Availability of Portfolios

Ascentric Marketstar Nucleus Standard Life Transact

Key Portfolio Data


Defaqto Risk

Rating

Benchmark Return per

annum*

Benchmark Annualised

Return*

Portfolio Annualised

Return*

Maximum Drawdown

Since Launch

Annualised Volatility

Since

IPP Defensive Growth Defaqto 3 CPI + 1% 2.44% 3.07% -2.88% 3.46%

IPP Conservative Growth Defaqto 4 CPI + 2% 3.46% 4.32% -3.51% 4.18%

IPP Diversified Growth Defaqto 5 CPI + 3% 4.48% 5.54% -5.31% 5.10%

IPP Dynamic Growth Defaqto 6 CPI + 4% 5.49% 7.34% -6.95% 6.09%

IPP Speculative Growth Defaqto 7 CPI + 5% 6.51% 9.13% -9.43% 7.73%

MSCI World Index (MSCI WI) - - - 9.83% -11.39% 9.71%

*From portfolio launch date, 1st October 2014.

Cost of ownership

Keeping costs under control can contribute greatly to overall performance. Our investment team selects fund-based investments wherever possible because the cost of switching is free or lower cost on the majority of platforms. A proportion of each portfolio can contain up to 30% of ‘active’ funds at a higher cost in order to access asset classes not available using passive instruments. The ongoing cost of the portfolios does not exceed 0.75%. Please note that this cost excludes ongoing platform and financial advice fees.

Initial charges and switching fees

The passive instruments selected by our investment team are open ended funds, which levy neither initial nor switching charges on any platform. Whilst the proliferation of ETFs has been a major market development in recent years, they are still difficult to access on platforms and carry trading fees. Given we do not require intra-day liquidity and believe we already gain the necessary market coverage through open ended structures, we feel we meet our clients’ needs best by avoiding ETFs.

Oliver Stone Portfolio Manager

Important Notices & Risk Warnings

This Marketstar Intelligent Passives Key Features & Benefits factsheet is for illustrative purposes only. Investments linked to this model portfolio may not exactly replicate the model portfolio described due to the difference in timing of initial investment or rebalancing differences resulting from minimum transaction size limits or fund availability on the platform or provider. Please note that platform and financial advice fees are not included. Nothing in this document should be deemed to constitute the provision of financial, investment or other profession advice in any way. The responsibility for assessing the suitability of financial products remains solely with the financial adviser. The information in this document was prepared on 31st December 2017 and is believed to be correct but cannot be guaranteed. The value of investments and the income from them can go down as well as up and investors may not recover the amount of their original investment. The sterling value of overseas investments, and the income from them, will fluctuate as a result of currency movements. Past performance is not a guide to future performance. Marketstar does not offer tax advice; the tax treatment of investments depends on each investor’s individual circumstances and is subject to changes in tax legislation. ‘Marketstar’ is a trading name of Fairstone Private Wealth Ltd which is authorised and regulated by the Financial Conduct Authority under FRN 457558. Head Office: 1 The Bulrushes, Boldon Business Park, Tyne & Wear. NE35 9PF. Registered in England and Wales No. 5869447.


IPP Defensive Growth – Defaqto 3 January 2018

Overview

The Marketstar IPP Defensive Growth is a multi-asset portfolio suitable for investors with a low attitude to risk. We use a blend of both passive and active funds. While passive funds are the main instruments used within the portfolio range, actively managed funds aim to play a part in minimising risk and may provide performance advantage in risk-adjusted terms over 100% passive portfolios. We have allocated up to 30% in each portfolio to active funds. This allowance is used to hold some asset classes such as alternative lower risk instruments and physical commercial property which are not available in passive instruments and can provide lower volatility and diversify our asset base.

Investment Objective

The IPP Defensive Growth aims to grow your capital by delivering returns well in excess of inflation over the minimum investment period while a balanced approach to higher and lower risk assets aims to keep the overall volatility within its target of 5% and maximum drawdown in a crisis of less than 10%.

The portfolio is managed to remain within Defaqto risk rating 3 (Cautious) at all times. For a full explanation of the DF risk rating system please consult your financial adviser.

Net Performance Data

Name 3m 6m 1 year 3 years 5 years

IPP Defensive Growth - DF 3 0.99% 1.67% 3.71% 8.66% N/A

Benchmark – CPI Index + 1% 0.65% 1.68% 3.59% 7.57% 12.55%

Inflation – CPI Index* 0.48% 1.26% 2.65% 4.50% 7.17%

* Contains public sector information licensed under the Open Government Licence v2.0.

All performance figures shown on this factsheet are net of underlying fund charges (including fund performance fees where applicable) and net of Marketstar investment management fees. Net Performance

IPP Defensive Growth

Structure Segregated Portfolio Launched 1 Oct 2014 Target Return CPI + 1% No. of Holdings 18 Equity Min/Max 0-40% NISA-compliant Yes Recommended investment period 5 years +

Portfolio Charges

AMC incl. VAT 0.29% OCF of underlying funds 0.35%

Total above 0.64%

AMC includes VAT where applicable

Minimum Investment Initial £1,000 Additional £500

Performance Year

Annual Return

*Annual Volatility

2014** 2.36% 5.29% 2015 3.01% 4.17% 2016 1.71% 3.02% 2017 3.71% 2.55% * Volatility is a statistical measure of the deviance of an investment’s price from its average over a period of time, and can be used to gauge the risk of an investment.

**2014 performance is from portfolio launch on 1st Oct 2014

Platform Availability

- Ascentric - Marketstar - Nucleus - Standard Life - Transact

Where can I get further information? For further information, please get in touch with our Client Support Team on +44 (0) 1278 773 552 or by email on [email protected]

http://www.nationalarchives.gov.uk/doc/open-government-licence/version/2/



IPP Defensive Growth – Defaqto 3 January 2018

Asset Allocation

Regional Allocation

Market Commentary

Equity markets all rose again this month, taking advantage of the traditionally quiet Christmas period, with GEM and the UK leading the way at 3.96% & 3.79% respectively. Government bonds were volatile, but ended the month on a positive ‘spike’, with Index-Linked Gilts up 1.53% and Gilts up 1.18%.

Markedly low equity volatility characterised the month yet again, with the S&P 500 ending December in the black to achieve a performance record of positive returns in each calendar month of a year on a total return basis. In fact, this index (and indeed the broader MSCI World Index) has been positive for the last 14 months; again, a record.

Both equities and bonds globally remain richly valued and underpinned by supranational buying programs, and to compound, ‘soft’ measures of sentiment and confidence also appear highly elevated. Given the QE situation outlined above, we continue to recommend some caution within portfolios.

The Trump tax plan has been passed, lowering both corporation and income taxes, but question remain over whether it is already priced into market. One major question that could have big ramifications will be how much offshore cash is repatriated and how it is put to work.

Finally, Europe saw further rumblings of populist discontent surrounding a still-unresolved German election result, Austrian and Czech elections, and the announcement of Italian elections in March 2018 where anti-establishment parties lead the polls. Meanwhile, the Spanish situation continues, with pro-Independence parties emerging victorious from December elections, despite various leaders being imprisoned or in exile.

Top 10 Holdings

Vanguard Global ST Bond Index 24% Vanguard US Equity 10% Cash 10% Vanguard UK ST IG Bond Index 9% Vanguard FTSE Dev ex UK 7% Vanguard FTSE All Share Index 5% Vanguard FTSE UK Equ Inc Index 5% Old Mutual Gold & Silver 4% Legg Mason Wstrn Ast Macro Opps 3% CH Tenax Abs Return Strategies 3%

All above

80%

* Performance fees apply



This Marketstar IPP Defensive Growth factsheet is for illustrative purposes only. Investments linked to this model portfolio may not exactly replicate the model portfolio described due to the difference in timing of initial investment or rebalancing differences resulting from minimum transaction size limits or fund availability on the platform or provider. Please note that platform and financial advice fees are not included. Nothing in this document should be deemed to constitute the provision of financial, investment or other profession advice in any way. The responsibility for assessing the suitability of financial products remains solely with the financial adviser. The information in this document was prepared on 31st December 2017 and is believed to be correct but cannot be guaranteed. The value of investments and the income from them can go down as well as up and investors may not recover the amount of their original investment. The sterling value of overseas investments, and the income from them, will fluctuate as a result of currency movements. Past performance is not a guide to future performance. Marketstar does not offer tax advice; the tax treatment of investments depends on each investor’s individual circumstances and is subject to changes in tax legislation. ‘Marketstar’ is a trading name of Fairstone Private Wealth Ltd which is authorised and regulated by the Financial Conduct Authority under FRN 457558. Head Office: 1 The Bulrushes, Boldon Business Park, Tyne & Wear. NE35 9PF. Registered in England and Wales No. 5869447.

26%

10%

24%

10%

7%

10%

4%9% Alternative Strategies - Lower Risk

Equity - UKFixed Income - Global BondsCashEquity - EuropeanEquity - North AmericanCommoditiesFixed Income - UK Corporate Bonds

22%

24%

21%

29%

3% 1%UKNorth AmericaEuropeOtherJapanAsia Pacific


IPP Conservative Growth – Defaqto 4 January 2018

Overview

The Marketstar IPP Conservative Growth is a multi-asset portfolio suitable for investors with a low medium attitude to risk. We use a blend of both passive and active funds. While passive funds are the main instruments used within the portfolio range, actively managed funds aim to play a part in minimising risk and may provide performance advantage in risk-adjusted terms over 100% passive portfolios. We have allocated up to 30% in each portfolio to active funds. This allowance is used to hold some asset classes such as alternative lower risk instruments and physical commercial property which are not available in passive instruments and can provide lower volatility and diversify our asset base. Investment Objective

The Marketstar IPP Conservative Growth aims to grow your capital by delivering returns well in excess of inflation over the minimum investment period while a balanced approach to higher and lower risk assets aims to keep the overall volatility within its target of 7% and maximum drawdown in a crisis of less than 15%.

The portfolio is managed to remain within Defaqto risk rating 4 (Cautious Balanced) at all times. For a full explanation of the DF risk rating system please consult your financial adviser. Net Performance Data


IPP Conservative Growth - DF 4 1.50% 2.39% 5.19% 12.79% N/A





IPP Conservative Growth


Portfolio Charges


Total above 0.64%



Performance Year

Annual Return

*Annual Volatility









IPP Conservative Growth – Defaqto 4 January 2018

Asset Allocation

Regional Allocation

Market Commentary






Top 10 Holdings

Vanguard Gbl ST Bond Index 21% Vanguard US Equity Index 16% Vanguard FTSE Dev Eurp ex UK Eq. 10% Vanguard UK ST IG Bond Index 5% Old Mutual Gold & Silver 5% Vanguard FTSE UK All Share Index 4% Vanguard FTSE UK Equity Inc Index 4% CH Tenax Abs Return Strategies 4% Jupiter Absolute Return 4% Vanguard Pac Ex Japan Stock Index 3%

All above

76%




This Marketstar IPP Conservative Growth factsheet is for illustrative purposes only. Investments linked to this model portfolio may not exactly replicate the model portfolio described due to the difference in timing of initial investment or rebalancing differences resulting from minimum transaction size limits or fund availability on the platform or provider. Please note that platform and financial advice fees are not included. Nothing in this document should be deemed to constitute the provision of financial, investment or other profession advice in any way. The responsibility for assessing the suitability of financial products remains solely with the financial adviser. The information in this document was prepared on 31st December 2017 and is believed to be correct but cannot be guaranteed. The value of investments and the income from them can go down as well as up and investors may not recover the amount of their original investment. The sterling value of overseas investments, and the income from them, will fluctuate as a result of currency movements. Past performance is not a guide to future performance. Marketstar does not offer tax advice; the tax treatment of investments depends on each investor’s individual circumstances and is subject to changes in tax legislation. ‘Marketstar’ is a trading name of Fairstone Private Wealth Ltd which is authorised and regulated by the Financial Conduct Authority under FRN 457558. Head Office: 1 The Bulrushes, Boldon Business Park, Tyne & Wear. NE35 9PF. Registered in England and Wales No. 5869447.

25%

10%

10%21%

3%

16%

5%5% 5% Alternative Strategies - Lower Risk

Equity - EuropeanEquity - UKFixed Income - Global BondsCashEquity - North AmericanCommoditiesFixed Income - UK Corporate BondsOther

18%

28%

20%

26%

5% 3%UKNorth AmericaEuropeOtherJapanAustralasia


IPP Diversified Growth – Defaqto 5 January 2018

Overview

The Marketstar IPP Diversified Growth is a multi-asset portfolio suitable for investors with a low medium attitude to risk. We use a blend of both passive and active funds. While passive funds are the main instruments used within the portfolio range, actively managed funds aim to play a part in minimising risk and may provide performance advantage in risk-adjusted terms over 100% passive portfolios. We have allocated up to 30% in each portfolio to active funds. This allowance is used to hold some asset classes such as alternative lower risk instruments and physical commercial property which are not available in passive instruments and can provide lower volatility and diversify our asset base.


The IPP Diversified Growth aims to grow your capital by delivering returns well in excess of inflation over the minimum investment period while a balanced approach to higher and lower risk assets aims to keep the overall volatility within its target of 8% and maximum drawdown in a crisis of less than 20%.

The portfolio is managed to remain within Defaqto risk rating 5 (Balanced) at all times. For a full explanation of the DF risk rating system please consult your financial adviser.



IPP Diversified Growth - DF 5 1.96% 3.00% 6.48% 17.34% N/A





IPP Diversified Growth


Portfolio Charges


Total above 0.65%



Performance Year

Annual Return

*Annual Volatility









IPP Diversified Growth – Defaqto 5 January 2018

Asset Allocation

Regional Allocation

Market Commentary






Top 10 Holdings

Vanguard US Equity Index 21% Vanguard FTSE Dev Eur ex UK Equ 13% Vanguard Global ST Bond Index 9% Old Mutual Gold & Silver 6% Vanguard UK ST IG Bond Index 5% Vanguard Pac Ex Japan Stock Index 5% Vanguard FTSE All Share Index 4% Vanguard FTSE UK Equity Inc Index 4% CH Tenax Abs Return Strategies 3% HSBC Japan Index 3%

All above

73%




This Marketstar IPP Diversified Growth factsheet is for illustrative purposes only. Investments linked to this model portfolio may not exactly replicate the model portfolio described due to the difference in timing of initial investment or rebalancing differences resulting from minimum transaction size limits or fund availability on the platform or provider. Please note that platform and financial advice fees are not included. Nothing in this document should be deemed to constitute the provision of financial, investment or other profession advice in any way. The responsibility for assessing the suitability of financial products remains solely with the financial adviser. The information in this document was prepared on 31st December 2017 and is believed to be correct but cannot be guaranteed. The value of investments and the income from them can go down as well as up and investors may not recover the amount of their original investment. The sterling value of overseas investments, and the income from them, will fluctuate as a result of currency movements. Past performance is not a guide to future performance. Marketstar does not offer tax advice; the tax treatment of investments depends on each investor’s individual circumstances and is subject to changes in tax legislation. ‘Marketstar’ is a trading name of Fairstone Private Wealth Ltd which is authorised and regulated by the Financial Conduct Authority under FRN 457558. Head Office: 1 The Bulrushes, Boldon Business Park, Tyne & Wear. NE35 9PF. Registered in England and Wales No. 5869447.

24%

13%

21%

11%

9%

6%5%

6% 5% Alternative Strategies - Lower RiskEquity - EuropeanEquity - North AmericanEquity - UKFixed Income - Global BondsOtherEquity - Asia PacificCommoditiesFixed Income - UK Corporate Bonds

18%

28%

19%

27%

5%3%UKNorth AmericaEuropeOtherJapanAustralasia


IPP Dynamic Growth – Defaqto 6 January 2018

Overview

The Marketstar IPP Dynamic Growth is a multi-asset portfolio suitable for investors with a high medium attitude to risk. We use a blend of both passive and active funds. While passive funds are the main instruments used within the portfolio range, actively managed funds aim to play a part in minimising risk and may provide performance advantage in risk-adjusted terms over 100% passive portfolios. We have allocated up to 30% in each portfolio to active funds. This allowance is used to hold some asset classes such as alternative lower risk instruments and physical commercial property which are not available in passive instruments and can provide lower volatility and diversify our asset base.


The IPP Dynamic Growth aims to grow your capital by delivering returns well in excess of inflation over the minimum investment period while a balanced approach to higher and lower risk assets aims to keep the overall volatility within its target of 10% and maximum drawdown in a crisis of less than 27%.

The portfolio is managed to remain within Defaqto risk rating 6 (Balanced Growth) at all times. For a full explanation of the DF risk rating system please consult your financial adviser.



IPP Dynamic Growth - DF 6 2.54% 3.85% 8.26% 23.94% N/A





IPP Dynamic Growth


Portfolio Charges


Total above 0.67%



Performance Year

Annual Return

*Annual Volatility









IPP Dynamic Growth – Defaqto 6 January 2018

Asset Allocation

Regional Allocation

Market Commentary






Top 10 Holdings

Vanguard US Equity Index 23% Vanguard FTSE Dev Eur ex UK Eq. 14% Old Mutual Gold & Silver 7% Vanguard Pacific ex Japan 6% Vanguard Global ST Bond Index 5% HSBC Japan Index 4% L&G UK Mid Cap Index 4% Vanguard EM Stocks Index 3% Vanguard FTSE UK Eq. Inc. Index 3% Vanguard FTSE All Share Index 3%

All above

72%




This Marketstar IPP Dynamic Growth factsheet is for illustrative purposes only. Investments linked to this model portfolio may not exactly replicate the model portfolio described due to the difference in timing of initial investment or rebalancing differences resulting from minimum transaction size limits or fund availability on the platform or provider. Please note that platform and financial advice fees are not included. Nothing in this document should be deemed to constitute the provision of financial, investment or other profession advice in any way. The responsibility for assessing the suitability of financial products remains solely with the financial adviser. The information in this document was prepared on 31st December 2017 and is believed to be correct but cannot be guaranteed. The value of investments and the income from them can go down as well as up and investors may not recover the amount of their original investment. The sterling value of overseas investments, and the income from them, will fluctuate as a result of currency movements. Past performance is not a guide to future performance. Marketstar does not offer tax advice; the tax treatment of investments depends on each investor’s individual circumstances and is subject to changes in tax legislation. ‘Marketstar’ is a trading name of Fairstone Private Wealth Ltd which is authorised and regulated by the Financial Conduct Authority under FRN 457558. Head Office: 1 The Bulrushes, Boldon Business Park, Tyne & Wear. NE35 9PF. Registered in England and Wales No. 5869447.

18%

14%

5%5%

23%

10%

4%6%

7%8%

Alternative Strategies - Lower RiskEquity - EuropeanAlternative Strategies - Higher RiskFixed Income - Global BondsEquity - North AmericanEquity - UKEquity - JapaneseEquity - Asia PacificCommoditiesOther

12%

28%

20%

26%

5%5% 4% UK

North AmericaEuropeOtherPacific BasinJapanAustralasia


IPP Speculative Growth – Defaqto 7 January 2018

Overview

The Marketstar IPP Speculative Growth is a multi-asset portfolio suitable for investors with a high medium attitude to risk. We use a blend of both passive and active funds. While passive funds are the main instruments used within the portfolio range, actively managed funds aim to play a part in minimising risk and may provide performance advantage in risk-adjusted terms over 100% passive portfolios. We have allocated up to 30% in each portfolio to active funds. This allowance is used to hold some asset classes such as alternative lower risk instruments and physical commercial property which are not available in passive instruments and can provide lower volatility and diversify our asset base.


The IPP Speculative Growth aims to grow your capital by delivering returns well in excess of inflation over the minimum investment period while a moderately adventurous approach to higher and lower risk assets aims to keep the overall volatility within its target of 12% and maximum drawdown in a crisis of less than 35%.

The portfolio is managed to remain within Defaqto risk rating 7 (Growth) at all times. For a full explanation of the DF risk rating system please consult your financial adviser.



IPP Speculative Growth - DF 7 3.07% 4.72% 10.56% 31.41% N/A





IPP Speculative Growth


Portfolio Charges


Total above 0.70%



Performance Year

Annual Return

*Annual Volatility









IPP Speculative Growth – Defaqto 7 January 2018

Asset Allocation

Regional Allocation

Market Commentary






Top 10 Holdings

Vanguard US Equity Index 22% Vanguard FTSE Dev Eur ex UK Eq. 16% Old Mutual Gold & Silver 8% Vanguard Pacific ex Japan 6% HSBC Japan Index 6% Vanguard EM Stock Index 5% L&G UK Mid Cap Index 5% Polar Capital UK Abs Equity* 3% Vanguard Global ST Bond Index 3% Liontrust GF Eurpn. Strategic Eq.* 3%

All above

77%




This Marketstar IPP Speculative Growth factsheet is for illustrative purposes only. Investments linked to this model portfolio may not exactly replicate the model portfolio described due to the difference in timing of initial investment or rebalancing differences resulting from minimum transaction size limits or fund availability on the platform or provider. Please note that platform and financial advice fees are not included. Nothing in this document should be deemed to constitute the provision of financial, investment or other profession advice in any way. The responsibility for assessing the suitability of financial products remains solely with the financial adviser. The information in this document was prepared on 31st December 2017 and is believed to be correct but cannot be guaranteed. The value of investments and the income from them can go down as well as up and investors may not recover the amount of their original investment. The sterling value of overseas investments, and the income from them, will fluctuate as a result of currency movements. Past performance is not a guide to future performance. Marketstar does not offer tax advice; the tax treatment of investments depends on each investor’s individual circumstances and is subject to changes in tax legislation. ‘Marketstar’ is a trading name of Fairstone Private Wealth Ltd which is authorised and regulated by the Financial Conduct Authority under FRN 457558. Head Office: 1 The Bulrushes, Boldon Business Park, Tyne & Wear. NE35 9PF. Registered in England and Wales No. 5869447.

13%

9%

6%

16%

3%5%6%

22%

10%2% 8%

Alternative Strategies - Lower RiskAlternative Strategies - Higher RiskEquity - Asia PacificEquity - EuropeanFixed Income - Global BondsEquity - Global Emerging MarketsEquity - JapaneseEquity - North AmericanEquity - UKCash

10%

24%

21%

29%

6%6% 4% UK

North AmericaEuropeOtherPacific BasinJapanAustralasia

multi-asset intelligent passive portfolios (ipp)...quiet christmas period, with gem and the uk...

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