EFTA01376844.pdf

Multi Asset Investment Process The Multi Asset Committee's 3 Pillar Framework Multi Asset Investment Committee's 3 Pillars Scope: Qualitative judgment by Scope: Independent ranking by Asset Managers Strategy Group (macro view) — Voting is anonymous, collected before - Systematic scoring incl. MIC and taken on (sub-)asset allocation proposal class basis — Strategy View and Key Multi Asset — Median is taken and various statistics market drivers + platform asset class (outliers, dispersion) views being analysed Scope: Quantitative independent judgment sae I Tr seas as MM awn an low on risks SIM Nan 0 a IIMMINN0 _ ECM MS — Macro indicator "-• n - Marna al -.-- - CIS 0 la — Surprise indicator — - -- Illa Nana al — Risk indicator to: a a 0 — ". • • •• ••aaSJa • ' `J —"“"4. Final decision Mae a a — Regime indicator Al ja i: id . se . ■--- MINIM a a a — Discussion based on proposals of Pillars 1-3 — Final decision by MIC voting members — If no consensus can be found 4 Chair and Owner take the final decision For illustrative purposes only. Allocations are unlikely to vary to this extent. Source: Deutsche Bank Wealth Management Deutsche Bank Wery,ftn Manage 10 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0073280 CONFIDENTIAL SDNY_GM_00219464 EFTA01376844