INVESTMENT PROCESS In order to be able to assess the quality of a fund manager, Golding Capital Partners has developed a structured investment process. All funds that are fundamentally eligible for an investment must go through this process. This enables us to identify those fund managers active around the world who can expect an above-average return with an appropriate level of risk in the future. The investment process comprises five phases: 1. Market observation:At the beginning there is a comprehensive market analysis, for which contacts to fund managers, intermediaries and other investors are used, among other things. The results flow into a proprietary fund database. This creates a continuously updated market overview of all relevant segments and regions, which serves as the basis for the fund pipeline and prioritization in the next phase. 2. Side-by-side analysis (pre-selection): In the next step, individual interesting fund managers are proactively approached. On the basis of the first meeting and available fund data, each fund is discussed in the investment team and preliminarily assessed. The aim is to identify attractive funds at an early stage and to constantly refine the fund pipeline. 3. Intensive due diligence (main examination):After the preselection, the actual review process begins with intensive data analysis and several meetings with fund management. It usually extends over several weeks or months. The team, investment strategy, performance record and conditions of the fund are analyzed in detail. Team: We want a broad and sustainable, balanced team with complementary profiles, a good reputation and a high level of professionalism. Investment strategy: The strategy should be consistent, differentiated and clearly articulated, as well as suit the market conditions and the composition of the team. Current account: The fund should have a demonstrable, above-average track record over various market cycles. The disadvantage is that it is too dependent on individuals and transactions. Konditionen/Struktur: Die Gebühren sollten angemessen und marktüblich sein, und der Fonds sollte eine optimale rechtliche und steuerliche Struktur besitzen. Signifikante Ko-Investments des Managements sind erwünscht. 4. Investitionsentscheidung: Die wesentlichen Ergebnisse der Hauptprüfung werden in einer Investitionsvorlage zusammengefasst und abschließend im Investmentteam und gemeinsam mit den Partnern im Investment Committee diskutiert. Für eine positive Entscheidung ist Einstimmigkeit im Golding Investment Committee erforderlich. 5. Monitoring and maintaining contacts: The investment process goes far beyond the investment decision. The quarterly and annual reports of the target fund and its portfolio are continuously analyzed for the duration of the investment. The Golding investment team maintains close personal contact with the management of the target funds at investor meetings and through informal team visits. Your contact in our investment team CONTACT IMPRINT PRIVACY HANDLING OF INTERESTS CONFLICTS MUNICH MÖHLSTRASSE 7 81675 MUNICH GERMANY NEW YORK 245 PARK AVENUE 39TH FLOOR NEW YORK NY 10029 USA LUXEMBOURG 6, AVENUE MARIE-THÉRÈSE 2132 LUXEMBOURG LUXEMBOURG TOKYO 8F PACIFIC CENTURY PLACE MARUNOUCHI, 1-11-1 MARUNOUCHI, CHIYODA-KU, TOKYO 100-6208 JAPAN COPYRIGHT 2018 - GOLDING CAPITAL PARTNERS