T h e Fi n e r T h i n g s

An eye for the f iner things

From super yachts to diamond jewelry, prestige cars to haute

couture fashion, luxury brands encompass a glittering array of

premium products synonymous with timeless elegance, exclusivity

and indulgence.

Luxury brands are renowned across the globe for their superior

quality and craftsmanship. For the owner, they convey an image

of success, status and style. They are part of a lifestyle to which

consumers all over the world aspire to belong.

In economic terms, luxury goods are the ones for which the law of

demand tends to reverse – the higher the price, the greater the

demand.

The world economy is evolving. It's not just in the West that new

millionaires are making their fortunes. Wealth creation growth is

exploding in the Emerging Markets, and in Asia in particular.

Luxury brands companies are aggressively targeting this new

demographic.

Worldwide economic growth, rising income and wealth levels,

and ongoing global urbanization are all factors fuelling the

development of this prestigious sector.

Thanks to the growing global online personal luxury goods

market, these items are now accessible to a greater number

of people. The consumption of luxury brands by middle-

class buyers is yet another key driver propelling growth

in this flourishing sector.

World renowned brandsof distinction

The new rich of the Asia-Pacific region, which is seeing the globe's

biggest increase in millionaire households, are making their

presence felt on the economic stage.

An investment in the luxury brands sector is, therefore, not only

an investment in world-renowned names dating back generations,

but also in the immense buying power of these new wealthy

consumers.

Our Luxury Brands Fund seeks to target this rapid shift in

consumerism by carefully selecting only the most aspirational

names with superior brand power, solid fundamentals and enduring

customer loyalty.

An investment intimeless design

PROCESS

Our philosophy is to adhere to a well-defined investment

process with strong investment principles. This is essential

to achieve long-term success through all market cycles.

The goal is to find the right companies within our target

sector with the most compelling valuations that offer the

highest likelihood for success.

RESEARCH METHODOLOGY

We screen the market and focus on three primary factors:

valuation analysis, fundamentals as well as the macro

environment.

The goal is to not only determine a company's opportunity

for success, but also gauge the industry, economy, and

political atmosphere in which it operates - a critical step

often ignored by other firms. After reviewing the data, the

Investment Committee selects those companies that

present the maximum potential for investment success.

Finally, we rigorously monitor volatility at an asset and

portfolio level to ensure risk remains controlled regardless

of trading conditions.

A strategy you canindulge in

EXAMPLE HOLDINGS*:

Minimum Initial Investment: Class A – GBP 1,000, USD 1,000 EUR 1,000, CHF 1,000

Minimum Initial Investment: Class B – GBP 1,000, USD 1,000 EUR 1,000, CHF 1,000

HOLDING SECTOR DESCRIPTION

LVMH Moet Hennessy Luxury Goods LVMH Moet Hennessy Louis Vuitton SA is an international luxury goods producer and Louis Vuitton SA distributor formed in 1987. The Company has a portfolio of over 60 brands and an international

retail network of 3384 stores. It (Louis Vuitton) merged with Moet Hennessey which was formed by the 1971 merger of Moet & Chandon and Hennessy to become LVMH Moet Hennessy Louis Vuitton SA. It has various brands namely, Tag Heuer, Fendi, Hennessy, Krug, Zenith etc.

Christian Dior SA Luxury Goods Christian Dior SA was incorporated on October 8, 1946. It is engaged in manufacture and dissemination of prestige products. It provides wines and spirits, fashion and leather goods, perfumes and cosmetics, and watches and jewelry, and engages in selective retailing under different brands. Other activities and holding companies comprise brands and businesses that are not associated with any of the abovementioned business groups, most often relating to the Company's new businesses and holding or real estate companies.

Estee Lauder Cos Inc Household & Estee Lauder Cos Inc was founded in 1946. The Company is engaged in manufacturing & Personal Products marketing skin care, makeup, fragrance and hair care products. The Company's Aramis and

Designer Fragrances division creates, markets and distributes fragrance and other beauty products, including brand names; Aramis, Tommy Hilfiger, Donna Karan, Michael Kors, Tom Ford, Coach and Tory Burch. The Company's products are sold in approximately over 150 countries and territories under a number of brand names including: Estee Lauder, Aramis, Clinique, Origins, Bobbi Brown, La Mer and Aveda.

Prada SpA Luxury Goods Prada SpA, together with its subsidiaries, is engaged in the design, production and distribution of high-end leather goods, handbags, footwear, apparel, accessories, eyewear and fragrances.

Pernod Ricard NV Beverages - Pernod Ricard NV was founded in 1975. The Company is engaged in the production and sale of Wineries & spirits and wines. Its brand portfolio includes ABSOLUT Premium Vodka, Ricard pastis, Distilleries Ballantine's, Chivas Regal, The Glenlivet Scotch whiskies, Jameson's Irish Whiskey, Martell

cognac, Havana Club rum, Beefeater gin, Kahlua and Malibu liqueurs, Mumm, and Perrier-Jouet champagnes, as well Jacob's Creek and Montana wines. The Company operates in France, Europe, the Americas, and Asia.

Daimler AG Automotive The Company develops, manufactures, distributes and sells automotive products, mainly Manufacturers passenger cars, trucks, vans and buses. It also provides financial and other services relating to its

automotive businesses. It reports the following five segments: Mercedes-Benz Cars; Daimler Trucks; Mercedes-Benz Vans; Daimler Buses; and Daimler Financial Services. Mercedes-Benz Cars designs, produces and sells Mercedes-Benz passenger cars, Maybach high-end luxury sedans and smart micro compact passenger cars.

Bayerische Motoren Automotive Bayerische Motoren Werke AG, founded in 1916, manufactures automobiles and motorcycles Werke AG Manufacturers worldwide. The Company's activities are divided into three segments: the Automobiles, the

Motorcycles, and the Financial Services segments. The Automobiles segment engages in the development, manufacture, assembly, and sale of cars and off-road vehicles, under the brands BMW, MINI and Rolls-Royce, as well as spare parts and accessories.

Hermès International Luxury Goods Hermes International was created on June 1, 1938. The Company was taken public on the Second March of the Paris Stock Market on 3 June 1993. It has been listed on the Eurolist by Euronext (Compartment A) since 2005. The Company designs, produces, and distributes personal luxury accessories and apparel. It operates a chain of boutiques that sells items such asleather, scarves, men's clothes, ties, women's fashions & jewelry.

Swatch Group AG Luxury Goods Swatch Group AG and its subsidiaries are engaged in manufacturing and sale of finished watches, jewelry. It also provides electronic systems used in watchmaking and other industries. The Company operates in two business segments: Watches & Jewelry segment manufactures and sells watches and jewelry and Electronic Systems segment designs, produces and commercializes electronic components, Sports timing activities.

Kering Footwear & Kering was incorporated on June 24, 1881. The Company is engaged in the manufacture of Accessories apparel and accessory brands that operate within two sectors - Luxury and Sport & Lifestyle.

*Sector Breakdown and Portfolio Holdings may change over time.

There is no substitute forluxury

STOCK UNIVERSE

SHORTLIST OF POTENTIAL ASSETS

ANALYSIS OF COMPANY FUNDAMENTALS

ALLOCATION

TECHNICAL ANALYSIS MARKET FUNDAMENTALS ANALYSIS

BUSINESS PERFORMANCE ANALYSIS CONTINUOUS RISK MONITORING

SECTOR BREAKDOWN*

Luxury Goods 27.00%

Footwear & Accessories 9.10%

Apparel Manufacturing 8.20%

Auto Manufacturers 8.20%

Beverages - Wineries & Distilleries 7.10%

Household & Personal Products 5.90%

Resorts & Casinos 5.90%

Apparel Stores 4.70%

Lodging 3.50%

Aerospace & Defense 2.40%

Consumer Electronics 2.40%

Leisure 2.40%

Recreational Vehicles 2.40%

Specialty Retail 2.40%

Airlines 1.20%

Banks - Global 1.20%

Department Stores 1.20%

Home Furnishings & Fixtures 1.20%

Media - Diversified 1.20%

Publishing 1.20%

Software - Application 1.20%

Provenance Luxury Brands Fund

Second Floor, Chircop Building115 Valley Road, Birkirkara, Malta, BKR 9011

E-mail: office@provenancefunds.com

www.provenancefunds.com

This document is for information purposes only and shall not be deemed as an offer or solicitation to any other person or entity to buy, sell or dispose ofany other rights pertaining to any financial instrument. Potential Investors must agree with and subscribe under the terms and conditions specified in theOffering Memorandum and Offering Supplement of the Luxury Brands Fund which are available from Provenance SICAV PLC, c/o Praxis Fund Services(Malta) Limited, Second Floor, Chircop Building, 115 Valley Road, Birkirkara BKR9011, Malta. If potential Investors are in doubt the contents of the OfferingMemorandum or Offering Supplement of the Fund they should consult their stockbroker, bank manager, legal advisor, accountant or other independent

financial advisor.

Prior to making an investment a Potential Investor must understand and carefully evaluate the Investment Strategy of the Fund and inherent risks, such as:risk of not achieving the investment objective, erosion of capital, exchange rate risk, net asset value fluctuations, lack of diversification, leverage risk, risksrelated to use of derivatives, short sale risk, interest rate risk, credit risk, volatility and illiquidity of markets, tax and legal risks, restriction or suspension of

redemption rights, dependence on key individuals, third parties default risk, emerging markets and countries risk and other risks.

THE ABOVE-MENTIONED RISK FACTORS DO NOT PURPORT TO BE A COMPLETE LIST AND EXPLANATION OF THE RISKS INVOLVED IN INVESTMENTIN THE FUND. POTENTIAL INVESTORS MUST READ THE ENTIRE OFFERING MEMORANDUM, KEY INVESTOR INFORMATION DOCUMENT (KIID) AND

THE OFFERING SUPPLEMENT AND MUST CONSULT THEIR OWN PROFESSIONAL ADVISORS BEFORE DECIDING TO INVEST IN A FUND. ALL INFORMATION IS AVAILABLE IN ENGLISH ONLY FROM PROVENANCE SICAV PLC OR VIA OUR WEBSITE WWW.PROVENANCEFUNDS.COM.