Methodology:

· Citywire Euro Stars Ratings are a derivative of the information ratio, called the Manager Ratio, which uses a benchmark applied at the fund level in-house by Citywire and considers all the eligible funds that the individual runs.

· Euro Stars Ratings are based on monthly three-year performance data to the end of February 2013.

· In order to be eligible for a Euro Stars rating, a manager must be active for a minimum of two-and-a-half years within that period and be active at the end of the period. They must also be managing a fund that is registered for sale in at least three of the following countries: UK, Ireland, Luxembourg, Austria, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland, Belgium, Denmark, Estonia, Finland, Latvia, Lithuania, Norway, Poland, Portugal, Cyprus, Gibraltar, Guernsey, Isle of Man, Jersey, Liechtenstein and Malta.

· Performance is calculated based upon total returns, priced at bid to bid, with income re-invested at the ex-dividend date.

· Once the eligibility criteria above are met, managers with a Citywire Manager Ratio of 0.25 or above gain a rating of A, AA, or the highest AAA.