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From: Tilney <tilney@updates.tilney.co.uk>
Date: Wed, 25 Oct 2017 12:01:28 +0000
Subject: How do we manage money at Tilney?
Message-Id: <KJQP.E854P2BF2B.20171025120128155@updates.tilney.co.uk>
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A look into our investment philosophy and process



Would you like to know more about how we manage your money at Tilney? =
Our new guide tells you all there is to know about our investment phil=
osophy and process. This is consistent across our whole business, feed=
ing into our managed and investment advisory client portfolios and our=
 range of managed funds. Download your copy to find out more.

Download guide ( http://updates.tilney.co.uk/378T-KJQP-54P2BF-ASYCY-0/=
c.aspx )



What=E2=80=99s in the guide?

The four guiding principles of our investment philosophy

How we create asset allocations that produce the highest potential ret=
urns for a given level of risk

Our process for picking fund managers that outperform consistently

How we manage investment risk in our client portfolios

Read the guide ( http://updates.tilney.co.uk/378T-KJQP-54P2BF-ASYCZ-0/=
c.aspx )

( http://updates.tilney.co.uk/378T-KJQP-54P2BF-ASYD0-0/c.aspx )



Speak to an adviser

Find out more about how we manage money and our range of investment se=
rvices ( http://updates.tilney.co.uk/378T-KJQP-54P2BF-AU0SN-0/c.aspx )=
 by speaking to one of our experts. Simply reply to this email, call u=
s on 020 7189 2400 or request a call back ( http://updates.tilney.co.u=
k/378T-KJQP-54P2BF-ASY82-0/c.aspx ).



Connect with us

( http://updates.tilney.co.uk/378T-KJQP-54P2BF-ASY83-0/c.aspx )

( http://updates.tilney.co.uk/378T-KJQP-54P2BF-ASY84-0/c.aspx )

( http://updates.tilney.co.uk/378T-KJQP-54P2BF-ASY85-0/c.aspx )

Important Information

The value of investments, and the income derived from them, can go dow=
n as well as up and you can get back less than you originally invested=
. This email does not constitute personal advice. If you are in doubt =
as to the suitability of an investment please contact one of our advis=
ers. Past performance is not a guide to future performance.

Prevailing tax rates and reliefs are dependent on your individual circ=
umstances and are subject to change. Please note we do not provide tax=
 advice.

We hope you've found this message helpful. However, if you would prefe=
r not to receive future emails from Tilney simply unsubscribe http://u=
pdates.tilney.co.uk/378T-KJQP-E854P2BF2B/uns.aspx

17107800

643905

Tilney is a trading name for: Tilney Investment Management Services Lt=
d (Reg. No: 2830297), Tilney Discretionary Investment Management Ltd (=
Reg. No: 02519968), Tilney Investment Management (Reg. No: 02010520), =
Tilney Asset Management Ltd (Reg. No: 03900078), Tilney Asset Manageme=
nt Services Ltd (Reg. No: 03691998), Tilney Discretionary Portfolio Ma=
nagement Ltd (Reg. No: 00793636), Thurleigh Investment Managers LLP (R=
eg. No: OC309191), Tilney Financial Planning Ltd (Reg. No: 607039), Be=
stinvest (Consultants) Ltd (Reg. No: 01550116) and HW Financial Servic=
es Ltd (Reg. No: 02030706), each of which is authorised and regulated =
by the Financial Conduct Authority and a subsidiary of Tilney Group Lt=
d (Reg. No: 08741768). All registered in England and Wales with regist=
ered office: 6 Chesterfield Gardens, Mayfair, London W1J 5BQ. Further =
details are available here ( https://www.tilney.co.uk/registered-detai=
ls ).

This email is for the information of the addressee only and should not=
 be reproduced and/or distributed to any other person. This email may =
be sent on behalf of any of the above-named companies and should be co=
nsidered a financial promotion on all occasions where the contents of =
this email could be considered to be an invitation to engage in an inv=
estment activity. Past performance is not a guide to future performanc=
e. This e-mail is subject to terms and risk warnings available here ( =
https://www.tilney.co.uk/email-terms-and-conditions ). By communicatin=
g electronically with us, you consent to these terms.

If you received this email in error, please accept our apology. We wou=
ld be obliged if you would email contact@tilney.co.uk ( contact@tilney=
.co.uk ).

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A look into our investment philosophy and process
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line-height: 23px">
Would you like to know more about how we manage your money at Tilney? =
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 <strong>What=E2=80=99s in the guide?</strong>
</p></div></td></tr></tbody></table><table class=3D"ee_element ee_spac=
er col-font-reset" ee-type=3D"element" style=3D"font-size: 14px;text-a=
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=3D"http://i.emlfiles4.com/cmpimg/7/5/3/9/4/1/files/833858_bullet.png"=
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dth=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0"><tbody><=
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e=3D"font-family: Helvetica, Arial, sans-serif;border-width: 0;padding=
: 0"><table class=3D"col-font-reset ee_element ee_textelement" ee-type=
=3D"element" style=3D"font-size: 14px;text-align: left;min-width: 100%=
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"0" cellpadding=3D"0"><tbody><tr><td class=3D"element-pad element-bord=
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der-width: 0;padding-top: 0px;padding-right: 10px;padding-bottom: 0px;=
padding-left: 10px" valign=3D"top" align=3D"left"><div class=3D"ee_edi=
table" style=3D"font-size: 14px;line-height: 22px;color: #3a3a3a;posit=
ion: static"><p style=3D"word-wrap: break-word;word-break: break-word;=
Margin: 0;margin-bottom: 0px;margin-top: 0px;font-size: 14px;color: #7=
a7a7a;text-align: left;line-height: 23px">
The four guiding principles of our investment philosophy
</p></div></td></tr></tbody></table></td></tr></tbody></table></div><!=
-- STACK COLUMN : END --><!--[if mso]></td></tr></table><![endif]--></=
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ght: 1px"><img src=3D"http://i.emlfiles4.com/cmpimg/t/s.gif" style=3D"=
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"10" border=3D"0" width=3D"1"></td></tr></tbody></table><table class=3D=
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llpadding=3D"0" border=3D"0" align=3D"center"><tbody><tr><td class=3D"=
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=3D"http://i.emlfiles4.com/cmpimg/7/5/3/9/4/1/files/833858_bullet.png"=
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                    </table></td></tr></tbody></table></div><!-- STACK=
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"column"><![endif]--><!-- STACK COLUMN : BEGIN --><div class=3D"no-sta=
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x-width: 94.88%;width: 94.88%"><table style=3D"table-layout: auto;" wi=
dth=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0"><tbody><=
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e=3D"font-family: Helvetica, Arial, sans-serif;border-width: 0;padding=
: 0"><table class=3D"col-font-reset ee_element ee_textelement" ee-type=
=3D"element" style=3D"font-size: 14px;text-align: left;min-width: 100%=
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"0" cellpadding=3D"0"><tbody><tr><td class=3D"element-pad element-bord=
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der-width: 0;padding-top: 0px;padding-right: 10px;padding-bottom: 0px;=
padding-left: 10px" valign=3D"top" align=3D"left"><div class=3D"ee_edi=
table" style=3D"font-size: 14px;line-height: 22px;color: #3a3a3a;posit=
ion: static"><p style=3D"word-wrap: break-word;word-break: break-word;=
Margin: 0;margin-bottom: 0px;margin-top: 0px;font-size: 14px;color: #7=
a7a7a;text-align: left;line-height: 23px">
How we create asset allocations that produce the highest potential ret=
urns for a given level of risk
</p></div></td></tr></tbody></table></td></tr></tbody></table></div><!=
-- STACK COLUMN : END --><!--[if mso]></td></tr></table><![endif]--></=
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ght: 1px"><img src=3D"http://i.emlfiles4.com/cmpimg/t/s.gif" style=3D"=
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dding-left: 0px;font-size: 1px;line-height: 1px" align=3D"left">
                                    <center class=3D"ved_ctr"><img src=
=3D"http://i.emlfiles4.com/cmpimg/7/5/3/9/4/1/files/833858_bullet.png"=
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t: auto" class=3D"ee_editable ee_smallimage ee_pnggif_image ee_norespo=
nsiveresize vedpw18" width=3D"10.9667" border=3D"0"></center>
                                </td>
                            </tr>
                        </tbody>
                    </table></td></tr></tbody></table></div><!-- STACK=
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tyle=3D"width:333.9666748046875px;" width=3D"333.9666748046875" class=3D=
"column"><![endif]--><!-- STACK COLUMN : BEGIN --><div class=3D"no-sta=
ck-column no-stack-column-width" ee-percent-width=3D"95" style=3D"disp=
lay: inline-block;vertical-align: top;float: left;min-width: 94.88%;ma=
x-width: 94.88%;width: 94.88%"><table style=3D"table-layout: auto;" wi=
dth=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0"><tbody><=
tr><td dir=3D"ltr" class=3D"col-inner ee_dropzone" align=3D"left" styl=
e=3D"font-family: Helvetica, Arial, sans-serif;border-width: 0;padding=
: 0"><table class=3D"col-font-reset ee_element ee_textelement" ee-type=
=3D"element" style=3D"font-size: 14px;text-align: left;min-width: 100%=
;table-layout: auto" data-title=3D"Text" width=3D"100%" cellspacing=3D=
"0" cellpadding=3D"0"><tbody><tr><td class=3D"element-pad element-bord=
" style=3D"font-family: Helvetica, Arial, sans-serif;padding: 10px;bor=
der-width: 0;padding-top: 0px;padding-right: 10px;padding-bottom: 0px;=
padding-left: 10px" valign=3D"top" align=3D"left"><div class=3D"ee_edi=
table" style=3D"font-size: 14px;line-height: 22px;color: #3a3a3a;posit=
ion: static"><p style=3D"word-wrap: break-word;word-break: break-word;=
Margin: 0;margin-bottom: 0px;margin-top: 0px;font-size: 14px;color: #7=
a7a7a;text-align: left;line-height: 23px">
Our process for picking fund managers that outperform consistently
</p></div></td></tr></tbody></table></td></tr></tbody></table></div><!=
-- STACK COLUMN : END --><!--[if mso]></td></tr></table><![endif]--></=
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e=3D"font-family: Helvetica, Arial, sans-serif;font-size: 1px;line-hei=
ght: 1px"><img src=3D"http://i.emlfiles4.com/cmpimg/t/s.gif" style=3D"=
display: block; width: 1px; height: 10px;" alt=3D"" class=3D"" height=3D=
"10" border=3D"0" width=3D"1"></td></tr></tbody></table><table class=3D=
"row two-cols ee_columns ee_nostack ee_element" ee-type=3D"container" =
data-title=3D"2 columns" style=3D"max-width: 100%;min-width: 100%;posi=
tion: relative;table-layout: auto" width=3D"100%" cellspacing=3D"0" ce=
llpadding=3D"0" border=3D"0" align=3D"center"><tbody><tr><td class=3D"=
row-inner f-size-0 element-pad col-inner" dir=3D"ltr" style=3D"font-fa=
mily: Helvetica, Arial, sans-serif;font-size: 0;border-width: 0;paddin=
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left" valign=3D"top" style=3D"width:17.98333740234375px;" width=3D"17.=
98333740234375" class=3D"mso-column-width"><![endif]--><!-- STACK COLU=
MN : BEGIN --><div class=3D"no-stack-column no-stack-column-width" ee-=
percent-width=3D"5" style=3D"display: inline-block;vertical-align: top=
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_dropzone" align=3D"left" style=3D"font-family: Helvetica, Arial, sans=
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dth=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0"><tbody><=
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in-width: 100%;table-layout: auto" width=3D"100%" cellspacing=3D"0" ce=
llpadding=3D"0" border=3D"0">
                        <tbody>
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                                <td class=3D"element-pad element-bord"=
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er-width: 0;padding-top: 0px;padding-right: 0px;padding-bottom: 0px;pa=
dding-left: 0px;font-size: 1px;line-height: 1px" align=3D"left">
                                    <center class=3D"ved_ctr"><img src=
=3D"http://i.emlfiles4.com/cmpimg/7/5/3/9/4/1/files/833858_bullet.png"=
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t: auto" class=3D"ee_editable ee_smallimage ee_pnggif_image ee_norespo=
nsiveresize vedpw18" width=3D"10.9667" border=3D"0"></center>
                                </td>
                            </tr>
                        </tbody>
                    </table></td></tr></tbody></table></div><!-- STACK=
 COLUMN : END --><!--[if mso]></td><td align=3D"left" valign=3D"top" s=
tyle=3D"width:333.9666748046875px;" width=3D"333.9666748046875" class=3D=
"column"><![endif]--><!-- STACK COLUMN : BEGIN --><div class=3D"no-sta=
ck-column no-stack-column-width" ee-percent-width=3D"95" style=3D"disp=
lay: inline-block;vertical-align: top;float: left;min-width: 94.88%;ma=
x-width: 94.88%;width: 94.88%"><table style=3D"table-layout: auto;" wi=
dth=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0"><tbody><=
tr><td dir=3D"ltr" class=3D"col-inner ee_dropzone" align=3D"left" styl=
e=3D"font-family: Helvetica, Arial, sans-serif;border-width: 0;padding=
: 0"><table class=3D"col-font-reset ee_element ee_textelement" ee-type=
=3D"element" style=3D"font-size: 14px;text-align: left;min-width: 100%=
;table-layout: auto" data-title=3D"Text" width=3D"100%" cellspacing=3D=
"0" cellpadding=3D"0"><tbody><tr><td class=3D"element-pad element-bord=
" style=3D"font-family: Helvetica, Arial, sans-serif;padding: 10px;bor=
der-width: 0;padding-top: 0px;padding-right: 10px;padding-bottom: 0px;=
padding-left: 10px" valign=3D"top" align=3D"left"><div class=3D"ee_edi=
table" style=3D"font-size: 14px;line-height: 22px;color: #3a3a3a;posit=
ion: static"><p style=3D"word-wrap: break-word;word-break: break-word;=
Margin: 0;margin-bottom: 0px;margin-top: 0px;font-size: 14px;color: #7=
a7a7a;text-align: left;line-height: 23px">
How we manage investment risk in our client portfolios
</p></div></td></tr></tbody></table></td></tr></tbody></table></div><!=
-- STACK COLUMN : END --><!--[if mso]></td></tr></table><![endif]--></=
td></tr></tbody></table><table class=3D"ee_element ee_spacer col-font-=
reset" ee-type=3D"element" data-title=3D"Spacer" style=3D"font-size: 1=
4px;text-align: left;min-width: 100%;background-color: rgb(249, 246, 2=
42);table-layout: auto" width=3D"100%" cellspacing=3D"0" cellpadding=3D=
"0" border=3D"0" bgcolor=3D"rgb(249, 246, 242)"><tbody><tr><td style=3D=
"font-family: Helvetica, Arial, sans-serif;font-size: 1px;line-height:=
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"min-width: 100%;table-layout: auto" width=3D"100%" cellspacing=3D"0" =
cellpadding=3D"0"><tbody><tr><td class=3D"button-container button-v2 e=
lement-pad" style=3D"font-family: Helvetica, Arial, sans-serif;padding=
: 10px;text-align: left;padding-top: 0px;padding-right: 20px;padding-b=
ottom: 0px;padding-left: 20px"><!--[if mso]><v:roundrect xmlns:v=3D"ur=
n:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:offi=
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c.aspx" style=3D"height:29.25pt;v-text-anchor:middle;width:105pt;" arc=
size=3D"8%" stroked=3D"false" fillcolor=3D"#bf9a5e"><w:anchorlock></w:=
anchorlock><p style=3D"text-align:center;padding:0;margin:0;"><font st=
yle=3D"color:#000000; font-style:normal;font-variant:normal;font-weigh=
t:700;font-family:Helvetica,Arial,sans-serif;font-size:11.25pt; paddin=
g:0; margin:0; line-height:inherit;">=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=
=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=
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255, 255);">Read the guide</font>=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=
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"button-td" style=3D"font-family: Helvetica, Arial, sans-serif;border-=
radius: 3px;background: #555555;text-align: center;min-width: 140px;ba=
ckground-color: rgb(191, 154, 94)" bgcolor=3D"rgb(191, 154, 94)"><p st=
yle=3D"font-size: 14px;line-height: 23px;color: inherit;height: 100%;m=
argin-bottom: 0;text-align: center;margin: 0" class=3D"ee_editable but=
ton-a"><a href=3D"http://updates.tilney.co.uk/378T-KJQP-54P2BF-ASY89-1=
/c.aspx" style=3D"border: 0px solid #000000;padding: 10px 15px;color: =
inherit;font-family: Helvetica, Arial, sans-serif;font-size: 15px;text=
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: 15px;padding-bottom: 8px;padding-left: 15px">=EF=BB=BF=EF=BB=BF=EF=BB=
=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=
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rgb(255, 255, 255);word-break: break-word;word-wrap: break-word">Read =
the guide</font>=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=
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=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=EF=BB=BF=
=EF=BB=BF=EF=BB=BF</a></p></td></tr></tbody></table><!--<![endif]--></=
td></tr></tbody></table></td></tr></tbody></table></div><!-- STACK COL=
UMN : END --><!--[if mso]></td><td align=3D"left" valign=3D"top" style=
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K COLUMN : BEGIN --><div class=3D"stack-column stack-column-width" ee-=
percent-width=3D"40" style=3D"display: inline-block;width: 40%;vertica=
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out: auto;" width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D=
"0"><tbody><tr><td dir=3D"ltr" class=3D"col-inner ee_dropzone" align=3D=
"left" style=3D"font-family: Helvetica, Arial, sans-serif;border-width=
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set" ee-type=3D"element" data-title=3D"Image" style=3D"font-size: 14px=
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ellspacing=3D"0" cellpadding=3D"0" border=3D"0">
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padding-left: 20px" align=3D"left">
                                    <a href=3D"http://updates.tilney.c=
o.uk/378T-KJQP-54P2BF-ASY8A-1/c.aspx" style=3D"margin-left: 0px; margi=
n-right: 0px; margin-top: 0px; vertical-align: bottom; display: block;=
"><img src=3D"http://i.emlfiles4.com/cmpimg/7/5/3/9/4/1/files/imagecac=
he/958705/w208_1143890_howwemanagemoney.jpg" style=3D"font-size: 14px;=
line-height: 22px;color: #3a3a3a;width: 208px;min-height: auto;display=
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</tbody></table><table class=3D"ee_element ee_spacer col-font-reset" e=
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der=3D"0" width=3D"1"></td></tr></tbody></table>

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                                </td>
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"" height=3D"20" border=3D"0" width=3D"1"></td></tr></tbody></table></=
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</td></tr></table><![endif]--></td></tr></tbody></table><table class=3D=
"row one-cols ee_columns ee_element" ee-type=3D"container" data-title=3D=
"1 column" style=3D"max-width: 100%;min-width: 100%;position: relative=
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, 255, 255)" align=3D"center"><tbody><tr><td class=3D"row-inner f-size=
-0 col-inner element-pad" style=3D"font-family: Helvetica, Arial, sans=
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g-right: 20px;padding-bottom: 0px;padding-left: 20px" valign=3D"top" a=
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"width:620px;" width=3D"620" class=3D"mso-column-width"><![endif]--><!=
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font-reset" ee-type=3D"element" data-title=3D"Spacer" style=3D"font-si=
ze: 14px;text-align: left;min-width: 100%;table-layout: auto" width=3D=
"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0"><tbody><tr><td=
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e-height: 1px"><img src=3D"http://i.emlfiles4.com/cmpimg/t/s.gif" styl=
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t: auto" data-title=3D"Text" width=3D"100%" cellspacing=3D"0" cellpadd=
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t: auto" width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"=
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ble class=3D"row one-cols ee_columns ee_element" ee-type=3D"container"=
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                                  <!--[if mso]>
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l, sans-serif;border-width: 0;padding: 0"><table class=3D"ee_element e=
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table>
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ree-cols ee_columns ee_element" ee-type=3D"container" data-title=3D"3 =
columns" style=3D"max-width: 100%;min-width: 100%;position: relative;t=
able-layout: auto" width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" =
border=3D"0" align=3D"center"><tbody><tr><td class=3D"row-inner f-size=
-0 col-inner element-pad" dir=3D"ltr" valign=3D"top" align=3D"center" =
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