ABOUT LANCELOT OUR FUNDS DISCRETIONARY MANAGEMENT FINANCIAL ADVICE NEWS PLUG DISCRETIONARY MANAGEMENT "In order to create a good return over time, we believe that it is most important to change the shareholding over time and to only invest in a few holdings that will perform better than the market." Objective Lancelot's goal is for each discretionary management assignment to begin with an in-depth discussion with you as a customer. This is so that we can really understand what you want and have expectations when it comes to returns. It also means that we carefully discuss your view of risk and how we should manage that risk. Only then do you and we decide together whether our management philosophy, working methods and services and products suit you. Regardless of which assignment you want, we want to avoid stock market declines as much as possible in order to have more capital to participate in the rises. But risk is more than having the right shareholding at the right time. It is also to choose the industry depending on how the economy will develop, the right country depending on political decisions and macro scenarios, the right company depending on company management and future prospects, the right currency depending on unrest around the world and interest rate forecasts, etc. The list can be long and we ponders and analyzes these important issues all the time. We do not say that we are always right, but more right than wrong. We try to carefully navigate into the future instead of accelerating with the rearview mirror as a result. It is important that you understand why we make our decisions and are involved in them so that you can be confident that we deviate from the market from time to time. This is because it is necessary to be able to avoid declines and to be able to create a long-term good return. We can offer two types of discretionary management. In our classic discretionary management, we choose to invest in a few selected shares and bonds for you, where we take responsibility for both allocating between the two asset classes and choosing the different companies. We also offer discretionary fund management with only our own funds. Then we allocate between our own funds to get a high return with a reasonable risk level and that suits you. Few unique customers We at Lancelot have chosen to have a limited number of customers in order to understand and be close to each customer. Each manager only takes care of a few clients each and each client has their own portfolio. Lancelot does not work with any model portfolios. In this way, you can be sure that your discretionary management is based solely on your unique individual goal and level of risk. Depending on what your risk profile is, the assignments can be both absolute returns, ie that we wish to generate a positive return each year, or relative returns, ie that we wish to return better than a selected index. Fee structure The fee structure is completely individualized and put together with you. It can consist of both fixed and variable fees or just one of these. Usually, our remuneration is paid partly in the form of a fixed management fee and partly in the form of a performance-related remuneration that is paid only on the part of the return that exceeds the comparative interest rate agreed with you. Ethical investments Lancelot works actively to invest in responsible companies with high morals and ethics. In addition to internal work, we collaborate with GES Investment Services AB, which regularly screens our discretionary portfolios against ethical and moral international conventions and guidelines. Lancelot Asset Management AB. Visiting address: Nybrokajen 7, Stockholm. Postal address: Box 161 72, 103 23 Stockholm, Tel: +46 (0) 8 440 53 80, Fax: +46 (0) 8 440 53 85 Production: Sphinxly Web Agency CMS: Easyweb Publishing Tools