Our Competitive Advantage There are four basic approaches for foreign-based or domestic boutique funds managers to establish an institutional marketing presence in Australia: Build your own team. This approach allows control of the message but is costly* and a distraction from the core investment business Form a strategic alliance or joint venture with a local firm. This approach can provide the desired scale but also creates many issues such as the competing commitments of two firms, strategic restrictions, and accountability issues which can result in a lack of focus. Cover Australia from overseas (foreign-based managers only). This approach also allows control of the message but can be costly and require a disproportionate amount of time & effort to manage. Use an independent third party marketing specialist such as Ambassador. The benefits we offer include: Our collective experience, demonstrable success, and market reputations Our individual longevity of service, job stability, and continuity of contact with what is a very concentrated investment consultant community No conflicts of interest Our detailed product and investment knowledge across a broad range of asset classes Our sound knowledge of the target investor client base Our willingness to be paid largely on success. There is a clear alignment of interest Our complementary skills sets Our geographic presence in the two key finance centres of Australia Overall we believe Ambassador provides a low cost, credible method of entry for funds managers into the fast growing Australian institutional market. We are reliable, consistent and we deliver results. *Upwards of $750,000. KPMG 2004 Survey shows that marketing costs for boutique operations can be more than the costs of operating an investment division.