Public HTML RI reports - PRI reporting framework 2019

Select the services and funds you offer	% of asset under management (AUM) in ranges
Fund management	0% <10% 10-50% >50%
Fund of funds, manager of managers, sub-advised products	0% <10% 10-50% >50%
Other	0% <10% 10-50% >50%
Total 100%

Further options (may be selected in addition to the above)

Hedge funds

Fund of hedge funds

01.2. Additional information. [Optional]

Silk Invest was founded in 2008 in London by Zin Bekkali and a veteran team of investment professionals with proven expertise in investing in frontier and emerging markets. The team's investment process incorporates seasoned institutional managers with local market expertise, representing 13 frontier countries, speaking 18 languages and operating from offices in United Kingdom, Egypt, Morocco, Kenya, Pakistan, and the US.

Silk Invest has established itself as a leading frontier markets specialist with deep insight across investment opportunities. Besides its deep well established investment products, Silk Invest also offers advisory services for sophisticated institutions, family offices and corporates who are using Silk Invest’s services to assess new investments and to project manage execution.

Silk Invest has two independent frontier markets investment teams for public markets equities and private equity. In 2017, Silk Invest added a new team, focused on liquid alternatives.

The primary investment focus is on Africa, the Middle East and Frontier Asia with an emphasis on having local presence in the target regions. Silk Invest pioneered investment strategies that capture consumer-driven trends in these markets and was also the first firm to launch a dedicated Frontier Fixed Income fund and consumer oriented Pan African Equity fund in Europe. In 2017, Silk Invest added a Sustainable Real Assets strategy to its product offering. The new strategy, which is being managed by the liquid alternatives team, covers global markets and spreads across diverse asset classes (equities, bonds, commodities...).

Silk Invest is regulated by the UK FCA and registered with the US SEC and has been a signatory to the United Nations Principles of Responsible Investing since 2011.

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United Kingdom

02.2. Indicate the number of countries in which you have offices (including your headquarters).

2-5

6-10

>10

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

18 FTE

02.4. Additional information. [Optional]

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

Yes

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2018

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2

Total AUM
Total AUM	trillions	billions	millions	thousands	hundreds
Currency
Assets in USD
Assets in USD	trillions	billions	millions	thousands	hundreds

Not applicable as we are in the fund-raising process

04.4. Indicate the total assets at the end of your reporting year subject to an execution and/or advisory approach.

Not applicable as we do not have any assets under execution and/or advisory approach

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

as percentage breakdown

	Internally managed (%)	Externally managed (%)
Listed equity	>50% 66.61	0 0
Fixed income	<10% 2.42	0 0
Private equity	10-50% 23.98	0 0
Property	0 0	0 0
Infrastructure	0 0	0 0
Commodities	0 0	0 0
Hedge funds	0 0	0 0
Fund of hedge funds	0 0	0 0
Forestry	0 0	0 0
Farmland	0 0	0 0
Inclusive finance	0 0	0 0
Cash	<10% 2.78	0 0
Money market instruments	0 0	0 0
Other (1), specify	0 0	<10% 2
Other (2), specify	0 0	<10% 2.21

'Other (1)' specified

          commodity linked ETPs

'Other (2)' specified

          African frontier markets fund

as broad ranges

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

Yes

06.5. Indicate whether your organisation uses fiduciary managers.

Yes, we use a fiduciary manager and our response to OO 5.1 is reflective of their management of our assets.

No, we do not use fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

The Sustainable Real Assets strategy could invest, and was invested as of December 31 2018, in commodity linked ETPs which are passive instruments such as ETFs replicating the performance of diviersified commodity indices. The strategy has no direct exposure to any commodity as it is used within an European UCITS Fund structure.

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Private)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

13.72 Developed Markets

10.97 Emerging Markets

50 Frontier Markets

25.31 Other Markets

Total 100% 100%

09.2. Additional information. [Optional]

86.28% in listed equity, private equity and sovereign debt are in Frontier and Emerging markets.

13,72% in listed equity and commodity linked ETPs within developed markets.

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