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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 />

upMTNUROSTVM PKNOR ifkab=cfk^k`b=_s NOKNOKOMNU NMMM ^P ^J NMUKVQU NKPQN NNMKOUV NKSTQ NTKQ RKVM<br />

upMSUSTMPTPS VKRMM ebfabi_bod`bjbkq=cfk^k`b NRKNOKOMNU RMMMM _~O __ NNTKSMM RKURU NOPKQRU SKNRP RMUKT QKUQ<br />

upMTNVVSOVUS QKMMM ^hwl=kl_bi=ks NTKNOKOMNU NMMMMM _~~N ___H NNMKQSP NKSUP NNOKNQS OKOSV TSKV RKTQ<br />

upMRQUNMORPN UKRMM prkofpb=`ljjrkf`^qflkp=Epr_l PNKNOKOMNU NMMMMM _P _J NMSKMMM PKOPR NMVKOPR TKPNN RUTKQ QKUT<br />

upMTOVMQSONU PKORM _jt=cfk^k`b=ks NQKMNKOMNV NMMM ^O ^ NMSKTRV NKNNM NMTKUSV OKNQU SMKP RKVP<br />

abMMM^MiN`vR PKUTR hct ONKMNKOMNV NMMM ^~~ ^^^ NNQKUMM NKOPV NNSKMPV NKROS JQKU RKVN<br />

upMTPNSUNRRS PKORM slihpt^dbk=fkqi=cfk=ks ONKMNKOMNV NMMM ^P ^J NMSKQVR NKMRT NMTKRRO OKNVP SRKN RKVQ<br />

coMMNNNNVQSM PKRMM p`ekbfabo=bib`qof`=p^ OOKMNKOMNV NMMMMM ^P ^J NMTKUNM NKNMV NMUKVNV OKOOT TMKV RKVN<br />

upMSNSQPNRMT QKNOR co^k`b=qbib`lj OPKMNKOMNV NMMMMM ^P ^J NNMKPQN NKOVS NNNKSPT OKQOU VMKP RKUN<br />

upMPVVSQTSTR SKSOR otb=cfk^k`b=_s PNKMNKOMNV RMMMM ^P ^J NOTKUTP NKVPT NOVKUNM OKNNU SSKQ RKRS<br />

upMQNNTPRQUO SKTRM klhf^=`lom MQKMOKOMNV RMMMM _~~P __H VRKNSO NKVMM VTKMSO TKSUV SMNKO RKMV<br />

upMQNNURMMTR TKRMM hlkfkhifghb=hmk=ks MQKMOKOMNV RMMMM _~~O ___ NOTKVUT OKNNN NPMKMVU OKURS NRTKT RKQP<br />

upMTQNMMQMSO PKNOR `ljm^pp=dolrm=mi` NPKMOKOMNV NMMMMM _~~NÉ ^J NMRKTTT MKUMP NMSKRUM OKNVO SRKQ SKMO<br />

upMSROVNQPSS OKMMM i^katfoqp`eK=obkqbk_^kh OMKMOKOMNV NMMM ^~~ ^^^ NMPKNQM MKQTR NMPKSNR NKRMT OKT SKOT<br />

abMMMa_Ra`jT OKNOR abrqp`eb=_^kh=Edboj^k=joqdb=_ MNKMPKOMNV NMMM ^~~ ^^^ NMOKUMM MKQQU NMPKOQU NKSUR NMKN SKOT<br />

abMMM^Nj^VhU PKPTR jbqol=^d MNKMPKOMNV NMMM _~~O ___ NMOKVRM MKTNO NMPKSSO OKUUV NPMKN RKVU<br />

abMMM^MqTgMP QKUTR abrqp`eb=_^ek=cfk^k`b=_s NOKMPKOMNV RMMMM ^~N ^^ NNVKMUM MKUUO NNVKVSO NKUSU PRKM RKUV<br />

upMSSVTQPOQS OKRMM brolmb^k=fksbpqjbkq=_^kh NRKMPKOMNV NMMM ^~~ ^^^ NMPKMOM MKQPO NMPKQRO OKMON QNKM SKOO<br />

upMTRUQNVSRU OKRMM ebfkbhbk=ks NVKMPKOMNV NMMM _~~N ___H NMOKTUQ MKQMQ NMPKNUU OKMRV QRKV SKOP<br />

abMMM^Nj__SO NKUTR hct OMKMPKOMNV NMMM ^~~ ^^^ NMOKNMP MKOVU NMOKQMN NKRQU JPKN SKPT<br />

coMMNMTPTUUO TKPTR ^pc OMKMPKOMNV RMMMM _~~N ___H NOTKUPQ NKNTO NOVKMMS OKUPV NRRKP RKRS<br />

upMQNUTOVVPQ SKMMM cloqrj=lvg OMKMPKOMNV RMMMM ^O ^ NORKMNV MKVRP NORKVTO OKMQP RTKN RKTT<br />

_bMMMMPNROQP QKMMM _bidfrj=hfkdalj OUKMPKOMNV MKMN ^~P ko NMUKPTR MKRQU NMUKVOP OKSQV NMVKP RKVU<br />

abMMM^NjiukP OKSOR a^fjibo=^d MOKMQKOMNV NMMM ^P ^J NMOKURS MKPOQ NMPKNUM OKNTP RUKN SKOP<br />

coMMNMTQRVTS SKORM prbw=bksfolkkbjbkq MUKMQKOMNV RMMMM ^P NOTKMMT MKSSU NOTKSTR OKMNP RSKS RKUM<br />

upMQNOUOSRTV QKORM brolmb^k=fksbpqjbkq=_^kh NRKMQKOMNV NMMM ^~~ ^^^ NNPKVTM MKPTP NNQKPQP OKMSM QUKP SKMR<br />

upMTRVOMMPON QKORM cobpbkfrp=cfk^k`b=_s NRKMQKOMNV NMMM _~N __H=LGJ NMOKUMM MKRTU NMPKPTU PKTUN OOPKO RKVM<br />

upMTSROVRUOU OKUTR qbs^=me^oj=cfk=fs=_s NRKMQKOMNV NMMMMM ^P ^J NMQKNVU MKPPU NMQKRPS OKONP SPKM SKOP<br />

brMMM^NdM^oM OKSOR bcpc MOKMRKOMNV NMMM ^~~ ^^H NMNKTMM MKNMU NMNKUMU OKPRT TOKO SKPM<br />

brMMM^Msr`cN PKPTR brolmb^k=rkflk NMKMRKOMNV NMMM ^~~ NMVKRRM MKMSR NMVKSNR NKVMN PPKM SKOR<br />

^qMMMM^MsTaU QKORM pqo^_^d=pb NMKMRKOMNV NMMM ___J NMOKRMM MKMUO NMOKRUO PKUPR OOPKU RKVS<br />

upMQOVNNQRPM PKUTR fkqi=_h=ob`lk=C=absbilm OMKMRKOMNV NMMM ^~~ NNRKQSM PKUQP NNVKPMP NKRPO JNMKM SKMP<br />

upMQOUVSOVON QKPTR fkpqfqrq=`obafql=lcf`f^i OMKMRKOMNV NMMM ^P ___H VMKSUP QKPPV VRKMOO SKMQR QMSKU RKRO<br />

upMQPSPNQRQR QKRMM lÉ__=Ed^oK=^rpqof^F MOKMTKOMNV NMMM ^~~ ^^H NNQKTTM PKVPQ NNUKTMQ OKOPQ SSKR RKVU<br />

upMTOPRMVNMQ RKORM cobpbkfrp=jba=`^ob PNKMTKOMNV NMMM _~O __H=LGJ NMSKSOR NKSNV NMUKOQQ QKNSQ OSQKP RKTR<br />

upMQQQMPMSQS QKTRM `obafq=prfppb=ilkalk MRKMUKOMNV RMMMM ^~N=LGJ ^H NNPKPUS PKTNO NNTKMVU OKSUP NNPKN RKVU<br />

upMQQPTMUOQO RKRMM `ljjlktb^iqe=_^kh=^rpq MSKMUKOMNV RMMMM ^~P ^J NMUKVVO QKOUP NNPKOTR QKMPS ORUKQ RKTQ<br />

upMQQRUQPROS QKUTR _^o`i^vp=_^kh=mi` NPKMUKOMNV RMMMM ^~P=LGJ ^H NNOKNQM PKTMP NNRKUQP OKVUQ NQRKR RKVS<br />

upMQQVPSNPRM RKPTR iilvap=qp_=_^kh=mi` MPKMVKOMNV RMMMM ^N=LGJ ^ NMUKSOO PKTTQ NNOKPVS PKVUS ORQKM RKUQ<br />

upMQQPQSVPNS TKPTR `fqfdolrm=fk` MQKMVKOMNV RMMMM ^P=LGJ ^J NNUKUSQ RKNRU NOQKMOO QKPMP OVOKU RKRQ<br />

upMQRMUUMQVS RKNOR ^rpq=C=kw=_^khfkd=dolrm NMKMVKOMNV RMMMM ^~P ^J NMSKQPO PKRMN NMVKVPP QKMUS ORRKV RKUU<br />

upMQQTVTTUMN RKORM co^mloq=^d NMKMVKOMNV NMMM NNPKOVT PKRUS NNSKUUP PKNUN NSSKR RKVR<br />

upMRQNVMVONP OKRMM brolmb^k=fksbpqjbkq=_^kh NSKMVKOMNV NMMM ^~~ ^^^ NMOKRUM NKSST NMQKOQT OKNNR QRKT SKRR<br />

_bMMMMPOTPSO PKMMM _bidfrj=hfkdalj OUKMVKOMNV MKMN ^~P NMNKNTT MKPRO NMNKROV OKUNV NNSKO SKQO<br />

upMQRQVUQTSR RKPTR olv^i=_h=lc=p`lqi^ka=mi` PMKMVKOMNV RMMMM ^O=LGJ ^ NMQKNUM PKPTU NMTKRRU QKSUS PMTKR RKUQ<br />

upMSUPRSQNRS QKRMM `ljm^dkfb=ab=pq=dl_^fk PMKMVKOMNV NMMMMM _~~O ___ NMVKPPQ OKUOU NNOKNSO PKMSP NROKQ SKNP<br />

upMQRSQRNTTN QKNOR p^klcf NNKNMKOMNV NMMM ^O ^^J NNSKNPV OKQSU NNUKSMT NKTTT NRKM SKPR<br />

upMQRVQNMTUO RKNOR dliaj^k=p^`ep=dolrm=fk` OPKNMKOMNV RMMMM ^N=LGJ ^J NMPKUOS OKUVV NMSKTOR QKRMP OUVKT RKVR<br />

NQKMRKOMNO

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