BBVA International Fund - Banque Privée Edmond de Rothschild ...

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BBVA DURBANA INTERNATIONAL FUND INFORMATION TO THE SHAREHOLDERS Annual reports and semi-annual reports are at the disposal of the shareholders with the administrative agent. There periodical reports contain financial information regarding the BBVA DURBANA INTERNATIONAL FUND (“SICAV”), the composition and evolution of its assets and its consolidated situation. The list of movements that took place in the composition of the securities portfolio for the financial year starting on January 1, 2009 are available for free with the head office of the administrative agent. The shares of the Sub-Funds of the SICAV are, or will be on issue, listed on the Luxembourg Stock Exchange. Subscriptions cannot be received on the basis of financial reports. Subscriptions are valid only if made on the basis of the current prospectus, supplemented by the last annual report and the most recent semi-annual report if published thereafter. INFORMATION TO SHAREHOLDERS IN SWITZERLAND Banque Privée Edmond de Rothschild S.A., Geneva, was authorised by the Swiss Financial Market Supervisory Authority as Swiss representative of the SICAV and acts also as paying agent. The prospectus, the simplified prospectus, the articles, the annual and semi-annual reports of the SICAV, as well as the list of the purchases and sales which the SICAV has undertaken during the financial year, may be obtained, on simple request and free of charge, at the head office of the Swiss representative, Banque Privée Edmond de Rothschild S.A., 18, rue de Hesse, CH-1204 Geneva. The Total Expense Ratio (TER) and the Portfolio Turnover Rate (PTR) as at June 30, 2010 for each Sub-Fund are calculated in accordance with the recommendations of the S.F.A., approved by the Swiss Financial Market Supervisory Authority. TER (Total Expense Ratio) The Total Expense Ratio (TER) represents the ratio of the total expenses, except transactions fees, annually supported by the Fund for each Sub-Fund. The TER should be calculated as follows : TER = Total charges of the Sub-Fund/Average net asset value of the Sub-Fund Average net asset value of the Sub-Fund = Amount of net assets over the year / Observation’s number. PTR (Portfolio Turnover Rate) As an indicator of the relevance of the additional costs incurred by the Fund at the time of the purchase or sale of investments, the internationally recognized PTR is disclosed, in accordance with the standard method below: PTR = ((amount 1 – amount 2)/average net wealth of the Fund) x 100 Amount 1 = Total securities transactions = X + Y Purchase of securities = X Sale of securities = Y Amount 2 = Total transactions involving Fund shares = S + T Issues of Fund shares = S Redemption of Fund shares = T Each Sub-Fund’s PTR and TER are detailed in this Annual Report in the “TER/PTR” section. Performances of Sub-Funds distributed in Switzerland : Performances * Sub-Funds Classes of Shares Sub-Classes Date of launch N.A.V. as at 31.12.07 2007 BBVA DURBANA LATAM FIXED INCOME A USD 03/11/2003 74.51 10.93% BBVA DURBANA LATAM FIXED INCOME I USD 31/07/2007 102.87 2.14% BBVA DURBANA GRANDFATHERING BOND A EUR 24/06/2005 49.03 0.33% 10
BBVA DURBANA INTERNATIONAL FUND INFORMATION TO SHAREHOLDERS IN SWITZERLAND (continued) Performances * Sub-Funds Classes of Shares Sub-Classes Date of launch N.A.V. as at 31.12.08 2008 BBVA DURBANA LATAM FIXED INCOME A USD 03/11/2003 56.77 (23.81)% BBVA DURBANA LATAM FIXED INCOME I USD 31/07/2007 79.38 (21.18)% BBVA DURBANA GRANDFATHERING BOND A EUR 24/06/2005 50.45 2.90% Performances * Sub-Funds Classes of Shares Sub-Classes Date of launch N.A.V. as at 31.12.09 2009 BBVA DURBANA LATAM FIXED INCOME A USD 03/11/2003 70.20 23.66% BBVA DURBANA LATAM FIXED INCOME I USD 31/07/2007 99.44 25.27% BBVA DURBANA GRANDFATHERING BOND A EUR 24/06/2005 50.97 1.03% BBVA DURBANA RENTA USD D USD 13/03/2009 107.22 9.87% BBVA DURBANA RENTA EUR D EUR 13/03/2009 108.30 10.99% Performances * Sub-Funds Classes of Shares Sub-Classes Date of launch N.A.V. as at 30.06.2010 2010 BBVA DURBANA LATAM FIXED INCOME A USD 03/11/2003 72.88 3.82% BBVA DURBANA LATAM FIXED INCOME I USD 31/07/2007 103.90 4.49% BBVA DURBANA MONETARIO EUR A EUR 29/05/2009 100.63 0.63% BBVA DURBANA MONETARIO USD A USD 29/05/2009 100.59 0.05% BBVA DURBANA GRANDFATHERING BOND A EUR 24/06/2005 51.19 0.43% BBVA DURBANA RENTA USD D USD 13/03/2009 106.68 6.68% BBVA DURBANA RENTA EUR D EUR 13/03/2009 106.23 6.23% BBVA DURBANA RENTA VARIABLE GLOBAL USD A USD 29/05/2009 101.20 1.20% BBVA DURBANA RENTA VARIABLE GLOBAL EUR A EUR 29/05/2009 117.33 2.50% * Performances are historical and are not necessarily an indication of future results, they do not include redemption or subscription‘s commissions and fees. 11
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