Investment Views - VP Bank

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24 | November 2010 | Asset Classes | Bonds Bonds Selected Bond ETFs Product Name Underlying Provider Curr. ISIN Payout Price YTD (indicative) Perf. % Government Bonds CS ETF (CH) on SBIDG 1–3 Swiss Bond Dom. Government 1–3 Credit Suisse CHF CH0102530786 Yes 97.54 0.22 CS ETF (CH) on SBIDG 3–7 Swiss Bond Dom. Government 3–7 Credit Suisse CHF CH0016999846 Yes 98.16 2.46 IBOXX EUR Inflation Linked ETF IBOXX EUR Inflation Linked Deutsche Bank EUR LU0290358224 No 171.07 2.09 IBOXX EUR Sovereigns TR IBOXX EUR Sovereigns Deutsche Bank EUR LU0290355717 No 172.52 4.66 IBOXX EUR Sovereigns 1–3 IBOXX EUR Sovereigns Deutsche Bank EUR LU0290356871 No 154.45 1.21 IBOXX EUR Sovereigns 3–5 IBOXX EUR Sovereigns Deutsche Bank EUR LU0290356954 No 168.23 3.42 IBOXX EUR Sovereigns 5–7 IBOXX EUR Sovereigns Deutsche Bank EUR LU0290357176 No 177.09 4.48 US Treasury 1–3 years US Treasury 1–3 years BlackRock USD IE00B14X4S71 Yes 131.70 2.66 US Treasury 7–10 years US Treasury 7–10 years BlackRock USD IE00B1FZS798 Yes 185.29 14.49 USD TIPS Inflation TIPS Inflation Linked BlackRock USD IE00B1FZSC47 No 174.20 9.28 Corporate Bonds iShares EURO Corporate Bond Fund iBoxx Euro Liquid Corporate Index BlackRock EUR DE0002511243 Yes 122.75 5.15 iShares eb.rexx Jumbo Pfandbriefe eb.rexx Jumbo Pfandbriefe BlackRock EUR DE0002635265 Yes 107.36 3.57 iShares USD Corporate Bond iBoxx USD Investment Grade Top 30 BlackRock USD IE0032895942 Yes 107.38 11.20 Emerging Markets Hard Currency iShares JPM USD EM Bond Fund JPMorgan EMBI Global Core Index BlackRock USD IE00B2NPKV68 No 111.60 13.64
Bonds Selected Government Bonds and Bonds of Public-sector Bodies Coupon Issuer ISIN Maturity Duration Price Yield Moody's S&P D/Swap (ind.) CHF Bonds 2.875 LAND NORDRHEIN-WESTFALEN CH0039162158 05/02/2012 1.49 103.70 0.43 Aa1 AA– –10 2.500 ONTARIO (PROVINCE OF) CH0016196344 07/08/2013 2.62 105.00 0.63 Aa1 AA– –7 1.125 CITY OF VIENNA CH0110950356 01/07/2014 3.12 101.40 0.68 – – –14 2.000 EUROPEAN INVESTMENT BANK CH0100783270 04/24/2014 3.36 104.50 0.69 Aaa AAA –19 1.375 KOMMUNEKREDIT CH0111675069 01/21/2015 4.08 101.70 0.96 Aaa AAA –8 1.625 ÎLE DE FRANCE CH0112263006 12/08/2017 6.66 101.25 1.44 Aaa – –11 2.500 EUROPEAN INVESTMENT BANK CH0028608856 02/08/2019 7.38 107.35 1.55 Aaa AAA –14 EUR Bonds 3.125 NEDER WATERSCHAPSBANK XS0408995883 01/20/2012 1.19 102.34 1.21 Aaa AAA –30 2.750 BAYERISCHE LANDESBANK DE000BLB5N07 01/23/2012 1.21 102.07 1.07 Aaa – –44 2.850 EUROPEAN INVESTMENT BANK XS0403965352 02/15/2013 2.20 103.29 1.39 Aaa AAA –18 0.500 INTL FINANCE CORPORATION XS0172986746 07/29/2013 2.71 95.57 2.16 Aaa AAA 53 3.125 EUROPEAN UNION EU000A0T61X8 04/03/2014 3.20 104.78 1.73 Aaa AAA –14 3.000 NORDIC INVESTMENT BANK XS0422677673 04/08/2014 3.23 104.68 1.59 Aaa AAA –17 2.125 LAND NORDRHEIN-WESTFALEN DE000NRW0AD0 06/30/2015 4.39 100.69 1.97 Aa1 AA– –3 2.500 EUROPEAN INVESTMENT BANK XS0495347287 07/15/2015 4.40 102.58 1.92 Aaa AAA –8 3.500 EUROPEAN INVESTMENT BANK XS0425743506 04/15/2016 4.90 106.98 2.13 Aaa AAA 0 3.000 BK NEDERLANDSE GEMEENTEN XS0498417798 03/30/2017 5.71 103.15 2.46 Aaa AAA 17 USD Bonds 2.400 COMMONWEALTH BK AUSTRALIA US20272CAA09 01/12/.2012 1.19 102.33 0.47 Aaa AAA –25 2.000 EUROPEAN INVESTMENT BANK US298785EU68 02/10/2012 1.27 102.19 0.30 Aaa AAA –40 1.625 NORDIC INVESTMENT BANK US65562QAN51 01/28/2013 2.21 102.57 0.48 Aaa AAA –12 1.625 AFRICAN DEVELOPMENT BANK US00828EAJ82 02/11/2013 2.25 102.62 0.47 Aaa AAA –13 2.375 EUROPEAN INVESTMENT BANK US298785EV42 03/14/2014 3.25 105.06 0.85 Aaa AAA –1 2.375 CANADIAN GOVERNMENT US135087ZA58 09/10/2014 3.70 105.63 0.89 – AAA –11 2.375 INTL BK RECON & DEVELOP US459058AR40 05/26/2015 4.32 105.75 1.09 Aaa – –14 2.850 BRITISH COLUMBIA PROV OF US1107098W54 06/15/2015 4.32 107.03 1.28 Aaa AAA 4 3.125 EUROPEAN INVESTMENT BANK XS0468848253 12/15/2016 5.55 108.07 1.73 Aaa AAA 2 Our 3–6 month assessments of bond performance refer to yields; prices move in the opposite direction: > +50 basis points +25 basis points No change –25 basis points < –50 basis points Legal notes on page 60. 25 | November 2010 | Asset Classes | Bonds
Page 1 and 2: Investment Views November 2010
Page 3 and 4: Contents Foreword 4 Current Market
Page 5: Current Market Assessment The table
Page 8 and 9: 8 | November 2010 | Focus | Top Iss
Page 10 and 11: 10 | November 2010 | Focus | Econom
Page 13 and 14: 2. Asset Classes Money Markets
Page 15 and 16: Money Markets | Oliver Schlumpf Mar
Page 17: Money Markets Selected Products Pro
Page 20 and 21: 20 | November 2010 | Asset Classes
Page 29 and 30: 2. Asset Classes Equities
Page 31 and 32: Equities | Bernd Hartmann Market Ou
Page 33 and 34: Equities | Pascal Tschütscher Regi
Page 35 and 36: Equities Selected VP Bank Equity Fu
Page 37 and 38: Equities | Rolf Kuster Sectors Divi
Page 39 and 40: Europe ex-Switzerland Sector/Compan
Page 41: Asia-Pacific Sector/Company Industr
Page 51 and 52: 3. Investment Management Mandates
Page 53 and 54: Investment Management Mandates | Pa
Page 55 and 56: 55 | Der Blindtext | VP Bank Bank 4
Page 57 and 58: Financing Products The tables below
Page 59 and 60: Glossary Allocation Strategic Long-
Page 61 and 62: Explanatory notes on conflicts of i

Investment Views - VP Bank

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