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Trading & Advisory CHF H41 (58) - Vontobel Holding AG

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fpfk `çìéçå k~ãÉ j~íìêáíó jáåáãìã=máÉÅÉ jççÇóDë pCm mêáÅÉ ^ÅÅK=fåíK aáêíó=mêáÅÉ vqj pt^m jçÇ=aìê<br />

upMQNUTUPQTT QKUTR psbkph^=e^kabip_^khbk=^_ ORKMPKOMNQ RMMMM ^~O=LGJ ^^J NMSKVUT MKTMU NMTKSVR NKMRN NPKQ NKTV<br />

upMQNUTVVSPM QKRMM p`eirj_bodbo=cfk^k`b=_s ORKMPKOMNQ RMMMM ^N ^H NMSKRNV MKSRP NMTKNTO MKVPU OKR NKUM<br />

upMQNVSMRQMS VKMMM eli`fj=cfk^k`b=iru=p^ OSKMPKOMNQ RMMMM _~~O ___ NNPKQRN NKOUO NNQKTPP NKRVO SNKS NKTR<br />

upMQNVPRONVV SKRMM obmpli=fkqi=cfk^k`b OTKMPKOMNQ RMMMM _~~O=LGJ ___J NMRKMOQ MKVMU NMRKVPO PKSRN OSVKQ NKTQ<br />

upMRUVTPRRSN QKPTR f`l=Edr^oK=hfkdalj=lc=pm^fkF PNKMPKOMNQ NMMM ^P ___H NMMKRRM MKRSP NMNKNNP QKMRU PNOKV NKTS<br />

upMQOMOQURSU QKMMM ph^kafk^sfph^=bkphfia^ PNKMPKOMNQ RMMMM ^~~ NMRKUVN MKRNR NMSKQMS MKUNN JNKM NKUO<br />

upMQONQNMSON SKNOR gmjlod^k=`e^pb=C=`l MNKMQKOMNQ RMMMM ^~P=LGJ ^ NMUKQMP MKTTO NMVKNTR NKRPR SQKS NKTV<br />

pfMMMONMOVPR QKPTR obmr_ifh^=pilsbkfg^ MOKMQKOMNQ NMMM ^O NMQKMTS MKRPV NMQKSNR OKNPO NSNKO NKUM<br />

coMMNMTQQVUT UKSOR mmo MPKMQKOMNQ NMMM ___ NNPKSOR NKMQM NNQKSSR NKOPT RTKR NKTU<br />

upMQONQSQTNV TKNOR ebfkbhbk=ks MTKMQKOMNQ NMMM NNMKVMQ MKTUN NNNKSUR NKOQS QOKP NKUM<br />

upMQOOSOQVUM SKORM ljs=^d MTKMQKOMNQ NMMM ^P NMVKSMO MKSUR NNMKOUT NKMUR OPKV NKUN<br />

coMMNMTQRVUQ QKUTR prbw=bksfolkkbjbkq MUKMQKOMNQ RMMMM ^P NMSKVOU MKRON NMTKQQV NKNRM OQKO NKUP<br />

upMQOPMPSSSP TKTRM i^kubpp=cfk^k`b=_s MVKMQKOMNQ NMMM _~~O ___ NNNKTMM MKUMT NNOKRMT NKQQO RNKV NKUM<br />

upMQOPSPVVRP TKTRM _^`^oaf=iqa MVKMQKOMNQ RMMMM _~~N ___H NNNKRTR MKUMT NNOKPUO NKRMQ SOKR NKUM<br />

upMRMMNOUTRR OKRMM p^m=^d NMKMQKOMNQ NMMM NMOKQPO MKORP NMOKSUR NKNVR OOKN NKUR<br />

upMSNQVNVTMN PKNOR slihpt^dbk=_^kh=dj_e NNKMQKOMNQ NMMM ^P ^J NMQKOSV MKPMU NMQKRTT MKURM OMKO NKUR<br />

abMMM^NePSrR OKNOR hct NNKMQKOMNQ NMMM ^~~ ^^^ NMPKOMM MKONM NMPKQNM MKQPM JRQKM NKUT<br />

coMMNMTRMQVT RKORM sblif^=bksfolkkbjbkq OQKMQKOMNQ NMMM _~~N ___H NMTKVVN MKPPN NMUKPOO NKMRU PMKO NKUT<br />

upMQOQSUSRTP UKSOR jf`ebifk=irubj_lrod=p`p OQKMQKOMNQ NMMM _~~N ___H NNQKOMN MKRQP NNQKTQQ NKNSP NPKV NKUQ<br />

upMQORTOOVOO TKSOR ^ab``l=fkq=cfk^k`f^i=psp OUKMQKOMNQ RMMMM _~~P ___ NNNKMQT MKPVT NNNKQQQ NKTVV UUKV NKUR<br />

coMMNMTRQSSP QKPTR isje=jlbqJebkkbppv NOKMRKOMNQ RMMMM ^ NMSKRTN MKMSM NMSKSPN NKMNS VKS NKVP<br />

upMQOUVRSOUT RKSOR r_p=^d=ilkalk NVKMRKOMNQ NMMM ^~P=LGJ ^ NMUKNSM RKRVQ NNPKTRQ NKQSS VQKM NKUP<br />

upMQOVOSRNRV TKMMM ptfpp=ob=qob^prov=ErpF NVKMRKOMNQ RMMMM ^N ^^J NNMKTSS SKVSO NNTKTOU NKRNM STKP NKUM<br />

upMQPMSVUQRR SKMMM `^oip_bod=_obtbofbp=^Lp OUKMRKOMNQ RMMMM _~~O NMVKNOP RKUOM NNQKVQP NKQNM RQKM NKUR<br />

abMMMau^NkmR OKTRM abuf^=hljjrk^i_^kh=Emr_if`=`l PMKMRKOMNQ NMMM ^^H=LGJ NMOKRVM OKSRO NMRKOQO NKQRM SOKP NKVP<br />

upMQPNTTORTO QKPTR abrqp`eb=qbibhlj=fkq=cfk MOKMSKOMNQ NMMM _~~N ___H NMSKPPN QKNUQ NNMKRNR NKONS PQKT NKVM<br />

upMSPPPQOSMQ OKTRM `^qbomfii^o=fkqi=cfk=iqa MSKMSKOMNQ NMMMMM ^O ^ NMPKQQR OKSMM NMSKMQR NKMQR RKP NKVR<br />

abMMM^MwNOvO UKMMM qevppbkhormm=^d NUKMSKOMNQ NMMM _~~P __H NNMKUMT TKPMN NNUKNMU OKSMS NTUKQ NKUQ<br />

upMQPRNRPMSU VKPTR obmr_if`=lc=ifqer^kf^ OOKMSKOMNQ NMMM _~~N ___ NNQKURM UKQRP NOPKPMP OKMSP NPRKV NKUP<br />

^qMMMM^MaonQ QKORM hfd=Edr^oK=pqbfboj^ohF ORKMSKOMNQ RMM ^^H NMRKTPM PKTVT NMVKROT NKQSR OTKV NKVS<br />

upMQPSSSOUOU QKMMM pvkdbkq^=cfk^k`b=ks PMKMSKOMNQ RMMMM ^O ^ NMSKPST PKRNV NMVKUUS MKVRM JPKM NKVV<br />

abMMM_i_SÅTQ NKUTR _^vbofp`eb=i^kabp_^kh PMKMSKOMNQ NMMM ^~~=LGJ NMOKMPM NKSRM NMPKSUM MKVMP JSKQ OKMR<br />

upMSQSTNVVRQ QKRMM fkpqfqrq=`obafql=lcf`f^i MUKMTKOMNQ NMMM ^P ___H NMMKQSM PKUSN NMQKPON QKOSR POVKT NKVP<br />

upMSQTOSPPNT SKNOR cf^q=cfk^k`b=C=qo^ab MUKMTKOMNQ NMMMMM _~P __J NMNKRMM RKORR NMSKTRR RKPRR QQSKM NKUT<br />

abMMM^MwO`pV RKTRM jbqol=^d NQKMTKOMNQ NMMM _~~O ___ NMUKVQM QKUPV NNPKTTV NKRMS STKP NKVU<br />

upMQPVOSMPVU QKTRM ^afa^p=fkqi=cfk^k`b=_s NQKMTKOMNQ NMMM NMTKMPP PKVVT NNNKMPM NKQNS RQKT OKMM<br />

abMMM^NhMhjR OKORM cjp=tboqj^k^dbjbkq NQKMTKOMNQ NMMMMM ^~~ ^^^ NMPKQSM NKUVP NMRKPRP MKSPM JPKR OKMU<br />

coMMNMTUMQRO UKPTR mbrdblq=p^ NRKMTKOMNQ NMMM _~N __H NMUKSST TKMOR NNRKSVO QKMVO PPVKQ NKUT<br />

abMMMesO^atV PKORM rkf`obafq=_^kh=^d NRKMTKOMNQ NMMM ^O=LGJ ^ NMOKQSQ OKTOS NMRKNVM OKMTM NNTKU OKMP<br />

upMQQMMMTNTS RKPTR abuf^=`obafq=il`^i ONKMTKOMNQ NMMM _~~O ___=LGJ VOKNOU QKQOM VSKRQU VKROU UNNKT NKUQ<br />

coMMNMTTUVOU PKTRM dbkbib`=Ejloqd^db=pb`robaF OOKMTKOMNQ NMMM ^~~ ^^^ NMQKUQM PKMTQ NMTKVNQ NKQTS QTKQ OKMR<br />

upMQMVNRPNNM UKORM `ljm^dkfb=ab=pq=dl_^fk OUKMTKOMNQ RMMMM _~~O ___ NNQKNPP SKSOT NOMKTSM NKSQP URKP NKVS<br />

upMQQNRNNOMM SKTRM obmr_if`=lc=erkd^ov OUKMTKOMNQ NMMM _~N __H NMMKTQM RKQOO NMSKNSO SKPSO RSRKM NKUV<br />

upMQUOSRSMMR PKPTR slihpt^dbk=cfk=pbos=^d OUKMTKOMNQ NMMM ^P ^J NMQKTPU OKTNN NMTKQQV NKNTT ORKT OKMU<br />

bpMPNOOVUOPT QKORM ^vq=`bari^p=`^g^p=dil_^i OVKMTKOMNQ NMMMMM ^N=LGJ ^^ VVKMMM PKQMO NMOKQMO QKTPO PVNKO NKVU<br />

upMQQNUMMRTV QKTRM db=`^mfq^i=brol=crkafkd PMKMTKOMNQ NMMM ^N ^^H NMSKRVR PKTVM NNMKPUR NKSTP SUKQ OKMQ<br />

abMMM^Na^jiO NKTRM hct MQKMUKOMNQ NMMM ^~~ ^^^ NMOKUSM NKPTO NMQKOPO MKQQV JRQKO OKNR<br />

abMMMkt_OTiM OKPTR kotK_^kh MQKMUKOMNQ NMMMMM ^~N ^^J NMPKNRM NKUSO NMRKMNO MKVPM JNNKM OKNP<br />

NQKMRKOMNO

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