This document contains confidential, proprietary information.

tion. Transmission or distribution in any way, manner, shape or form is prohibited without the express consent of its
authors, Symfonie Capital, LLC (Symfonie). Symfonie is solely responsible for the information and content of this document. This document is not a solicitation for the purchase or
sale of any financial instrument. Symfonie has taken reasonable care to ensure the information stated is factually true. However, Symfonie makes no representation or warranties
that is accurate or complete. Symfonie is registered with the US SEC as an Investment Advisor. Copyright 2014, Symfonie Capital, LLC. All rights protected. No copies may be
made without express written consent and approval.
May 2014
Symfonie Managed P2P Investments
Loans Selected for High Income and
Principal Stability
Product Features
Symfonie managed accounts are designed for investors who want their portfolio tailored to their specific
requirements, such as maturity and risk ratings of loans in which they would like to invest.
While no investment is guaranteed, the rating and maturity structure of peer to peer loans provides some
predictability of investment performance. Loans with higher ratings should offer lower overall risk than loans
with lower ratings. The maturity structure also provides investors a concrete point in time by which they can
expect the return of capital invested.
Peer to peer loan platforms provide credit scores that offer an estimated loan-loss rate across groups of loans in
each ratings category. Symfonie selects loans based in part on the ratings categories assigned by the Peer to
Peer lending platforms. Symfonie also uses its proprietary risk models to select loans within each ratings
category that Symfonie believes more likely to produce better risk adjusted returns.
Symfonies leading investment principal, Michael Sonenshine, has a proven track record of success and more
than 15 years of experience analysingand investing in bonds and credit instruments.
Symfonie Managed Funding Circle Portfolio
Featured P2P Platform Funding Circle (UK)
Funding Circle sets a benchmark for excellence. Each loan is presented with a set of information about the
borrower, its business, the purpose of the loan and the borrowers financial history. Investors have
opportunity to ask questions of the company and to do company financials reports. Further information can
be found on publicly accessible sources via the internet. Thus there is ample scope to carry out a sufficient
amount of due diligence.
Interest rates are transparently set via an auction process. The borrower pays the weighted average rate of
interest and the investors each have loan parts reflecting the interest rate they bid. Thus, some investors
own loan pieces at better than average rates, others own loan pieces at lower than average rates.
Many loan parts are available in a secondary market and can be purchased, sometimes at a discount or at
notional, but usually with premia ranging from 0.1% to 3%.
Funding Circle has originated more than 4,500 loans to date with value of about GBP 270 million.
Key Port f ol io St at ist ics
Number of Loans 288
Average Gross Yield to Maturity 10.9%
Expected Net Yield to Maturity 9.0%
Average Time to Maturity (years) 3.4
Overall Average Rating B-
Loan Matur it ies
0 - 1 year 2%
1 - 2 years 17%
2 - 3 years 30%
3 - 4 years 12%
4 - 5 years 39%
Loan Grades
B, 24.8%
A, 15.1%
C, 60.1%
This document contains confidential, proprietary information. Transmission or distribution in any way, manner, shape or form is prohibited without the express consent of its authors,
Symfonie Capital, LLC (Symfonie). Symfonie is solely responsible for the information and content of this document. This document is not a solicitation for the purchase or sale of any
financial instrument. Symfonie has taken reasonable care to ensure the information stated is factually true. However, Symfonie makes no representation or warranties that is accurate
or complete. Symfonie is registered with the US SEC as an Investment Advisor. Copyright 2014, Symfonie Capital, LLC. All rights protected. No copies may be made without express
written consent and approval.
Symfonie Managed P2P Investments
Loans Selected for High Income and
Principal Stability
Portfolio Diversification
Portfolio Comparison Vs. Funding Circle Universe
Additional Notes
S:ymfonie Capital - London +44 20 8616 7311 Prague: +420 222 191 008 info@symfoniecapital.com www.symfoniecapital.com
The portfolio presented represents the Symfonie standard allocation in a managed account across credits and
risk levels. Actual client portfolios may differ depending on client preferences and availability of loans.
The average borrower in the portfolio has been in business for 11 years (FC 13.4 years).
Source: Funding Circle database, Symfonie Capital estimates.
Sector Allocation
Leisure & Hospitality, 9.9%
Other, 11.9%
Wholesale, 5.5%
Consumer Services, 1.1%
Education & Training, 1.8%
Finance, 1.7%
Manufacturing and
Engineering, 10.8%
Professional and Business
Support, 8.2%
Property and Construction,
17.2%
Retail, 12.1%
Transport and Logistics,
3.7%
Agriculture, 0.9%
Automotive, 4.8%
I.T and
Telecommunications, 8.0%
Healthcare, 2.3%
Por tf olio FC
Turnover
0-350K 28% 30%
350K-700K 19% 23%
700K-1.5M 24% 24%
1.5M+ 28% 23%
Net Pr ofi ts
0-20K 28% 26%
20K-50K 28% 27%
50K-100K 18% 24%
100K+ 26% 24%
Average Loan Size 71,348 55,719
Por tf olio FC
Debt Outstandi ng
0-15K 34% 31%
15K-75K 25% 28%
75K-300K 21% 23%
300K+ 20% 18%
Asset s
0-125K 33% 37%
125K-350K 23% 24%
350K-850K 20% 19%
850K+ 24% 20%
Average int erest rat e 10.9% 8.9%