John A. Sandwick Manager, Safa Investment Services - Islamic Wealth & Asset Management S.A .

1. John A. Sandwick Manager, SafaInvestment Services - Islamic Wealth & Asset Management S.A.

2. Sharia-compliant global asset allocation Riyadh, Saudi Arabia In technical cooperation with Islamic Wealth & Asset Management S.A. Geneva, Switzerland April 2013

3. About Safa Investment Services • The Investor for Securities Co. (“The Investor”), founded 2007, licensed by Saudi Capital Market Authority • SAR 7 billion AUM (about CHF 1.8 billion), mostly local real estate funds • Over 800 domestic Saudi clients • Leading Saudi investment company, over 40 staff, Riyadh based • Just bought position in Islamic Wealth & Asset Management S.A. • IWAMSA owns the Safa brand, franchised to The Investor • The Investor expanding into liquid asset management, Safa Investment Services • Target market is awqaf (Islamic endowments), takaful (Islamic insurance), private clients • Large potential market • Entirely sharia compliant, bottom-up fatwa

4. Islamic asset management • Same professional rules as conventional asset management industry • Strict filtering, sorting and qualification of all assets • Only “best of class” assets allowed • Asset allocations fully optimized using advanced asset allocation software • Superior results from professional asset management

5. The Islamic investment universe There are more than 800 sharia-compliant funds and ETFs in the world today with over $100 billion Assets Under Management (AUM). Must filter & sort these >800 funds and ETFs, then means-variance test to create a proprietary Buy List: More than $50 million AUM More than 2-year track record Less than 30-day liquidity Acceptable legal jurisdiction Transparent, timely reporting Direct access to managers Fatwa from one or more of the major sharia scholars Qualifying Islamic sub-universe has over $50 billion Assets Under Management. Construct portfolio allocations among the “best of class” funds on a proprietary Buy List.

6. Asset allocation, hypothetical Balanced strategy 1. Above is identical to conventional, but entirely sharia-compliant Balanced allocation Muslims require performance equal or superior to conventional allocations, but with full respect for sharia All investible assets must be from professional Buy List Allocations must meet global professional asset management standards, but also strict sharia standards

7. Historic performance

8. Risk & return

9. Drawdown

10. Return distribution

11. Omega

12. Periodic returns

13. Contacts