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

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píê~áÖÜí=_çåÇë=d_m eljb oáëâ=j~å~ÖÉãÉåí=C ^Çîáëçêó=fåíK HQN=ERUF=OUP=TPQM fpfk `çìéçå k~ãÉ j~íìêáíó jáåáãìã=máÉÅÉ jççÇóDë pCm mêáÅÉ ^ÅÅK=fåíK aáêíó=mêáÅÉ vqj pt^m jçÇ=aìê upMOOMURTQPS QKSOR o^_l_^kh=kbaboi^ka PNKMRKOMNO NDMMM ^~~=LGJ ^^ NMMKNOV QKQQU NMQKRTT NKMMT TUKQ MKMQ upMONNVVRTRT QKTRM brolmb^k=fksbpqjbkq=_^kh MSKMSKOMNO NDMMM ^~~ ^^^ NMMKOOS QKQVM NMQKTNS MKQQT PKN MKMR upMPOUQMSUMR RKUTR db=`^mfqî=rh=crkafkd MNKNNKOMNO NDMMM ^N ^^H NMOKNPS PKNTU NMRKPNQ NKNOS JTKM MKQR upMONOMSVNNR QKTRM hct MTKNOKOMNO NDMMM ^~~ ^^^ NMOKPMQ OKNMO NMQKQMS MKRTT JTPKS MKRR upMRVMNRVOPN NKPTR bumloq=absbilmjkq=`^kâ^ NQKNOKOMNO NDMMM ^~~ ^^^ NMMKPTV MKRUO NMMKVSN MKTMV JRVKP MKRT upMNSMVMUOQV QKRMM brolmb^k=fksbpqjbkq=_^kh NQKMNKOMNP NDMMM ^~~ ^^^ NMOKQRV NKROR NMPKVUQ MKTPR JRUKO MKSR upMPRQSMROTM QKSOR i^katfoqpèK=obkqbk_^kh OUKMPKOMNP NDMMM ^~~ ^^^ NMPKPU MKSPQ NMQKMNQ MKSUR JSOKR MKUS upMSNPOUNMSN OKRMM slihpt^dbk=cfk=pbos=ks MTKNMKOMNP NDMMM ^P ^J NMNKQRQ MKOTP NMNKTOT NKQPO NPKM NKPR upMQTOTRNMRR OKSOR _h=kbaboi^kapb=dbjbbkqbk NMKNOKOMNP NDMMM ^~~ ^^^ NMOKMVP NKNQM NMPKOPP NKOSO JRKR NKRO upMNSTQVTUUN RKORM dbkboî=bib`=`^m=`lom NMKNOKOMNP NDMMM ^N ^^H NMRKRQS OKOUN NMTKUOT NKSOP POKO NKQV upMRTVSVTTSP NKSOR kloaf`=fksbpqjbkq=_^kh NMKNOKOMNP NDMMM ^~~ ^^^ NMNKOOP MKTMS NMNKVOV MKUPQ JSOKO NKRQ upMRTVURMRQR OKMMM lkqôfl=Emolsfk`b=lcF NMKNOKOMNP NDMMM ^~O ^^J NMNKRST MKUSV NMOKQPS MKVUQ JRPKP NKRP upMRUMNSNNMS NKTRM fkqi=cfk^k`b=`lom NMKNOKOMNP NDMMM ^~~ ^^^ NMNKSNQ MKTSM NMOKPTQ MKTMU JSQKV NKRQ upMSNSURNOMV NKUTR brolmb^k=_h=ob`lk=C=abs NMKNOKOMNP NDMMM ko ^^^ NMNKTMV MKUNR NMOKROQ MKTTM JRRKP NKRP upMRUMRNSSTN OKNOR ptbafpe=bumloq=òbafq NMKNOKOMNP NDMMM ^~N NMNKQQV MKVOP NMOKPTO NKNUO JUKR NKRP upMSPUNNTURO OKNOR a^fjibo=fkqi=cfk^k`b=_s NMKNOKOMNP NDMMM ^P ^J NMMKVSP MKVOP NMNKUUS NKQVR NTKU NKRO upMQTNOTRTOS OKRMM `lrk`fi=lc=brolmb NNKNOKOMNP NDMMM ^~~ ^^^ NMOKOO NKMTV NMPKOVV NKMSO JORKV NKRP upMQMVNNVUTN RKNOR bKlk=fkqi=cfk^k`b=_s OTKMNKOMNQ RMDMMM ^P ^ NMSKNUO NKRRQ NMTKTPS NKQMP UKN NKSO upMQNQPRMVTQ RKMMM qbp`l=mi` OQKMOKOMNQ RMDMMM _~~N ^J NMSKMRR NKNPQ NMTKNUV NKRMP OPKO NKTM upMTMRMMRPNN MKTRM ^pf^k=absbilmjbkq=_^kh MTKMPKOMNQ NDMMM ^~~ ^^^ NMMKNVS MKNQS NMMKPQO MKSQM JSOKT NKTV upMQOOTMPPQT SKPTR iilvap=qp_=_^kh=mi` NRKMQKOMNQ NMMDMMM ^N=LGJ ^ NMSKPRQ MKRRT NMSKVNN OKVMR NSUKN NKUM upMQOPPOQUUT SKPTR olvî=_h=lc=p`lqi^ka=mi` OVKMQKOMNQ NMMDMMM Ô=LGJ ^ NMSKMUU MKPNQ NMSKQMO PKNMT NUUKQ NKUP upMQOUNROQNS PKPTR fccfj NRKMRKOMNQ NDMMM ^~~ ^^H NMQKRTR MKMNU NMQKRVP NKMQR JPMKS NKVQ upMQOPOMRROQ PKPTR brolmb^k=fksbpqjbkq=_^kh MUKMVKOMNQ NDMMM ^~~ ^^^ NMQKQSP OKPOQ NMSKTUT NKPVR PKS OKNU coMMNMTTMRNN PKTRM `^fppb=aD^jloq=abqqb=pl` MUKMVKOMNQ NDMMM ^~~ ^^H NMQKQNR OKRUO NMSKVVT NKTTU QRKS OKNT upMQPRSNURRT QKMMM fkpqfqrq=òbafql=lcf`fî MUKNOKOMNQ NDMMM ^P ___H VTKVOU NKTSM VVKSUU QKUTN PRMKU OKPP upMTPPNSQMRS NKMMM bumloq=absbilmjkq=`^kâ^ MUKNOKOMNQ NDMMM ^~~ ^^^ NMMKRVS MKPOU NMMKVOQ MKTSP JSNKM OKRN upMQNTMPPMMT RKPTR ho^cq=cllap=fk` NNKNOKOMNQ RMDMMM _~~O ___J NMUKQOS OKPOM NNMKTQS NKVTN SUKN OKPU upMTRMSVOUSQ MKUTR brolmb^k=_h=ob`lk=C=abs NRKNOKOMNQ NDMMM ko ^^^ NMMKOPN MKNVN NMMKQOO MKTUQ JRSKQ OKRP upMTPVTSVMNR NKPTR hljjrkî_^khbk=^p NRKNOKOMNQ NDMMM ^~~ NMMKPOQ MKPVU NMMKTOO NKOQS JNOKU OKRN upMTQSMOSOOT MKUTR fkqi=_h=ob`lk=C=absbilm NTKNOKOMNQ NDMMM ^~~ ^^^ NMMKPMV MKOOM NMMKROV MKTRP JSOKR OKRQ upMTPOVPMOOS OKNOR slihpt^dbk=fkqi=cfk=ks NVKNOKOMNQ NDMMM ^P ^J NMNKSOS MKSVN NMOKPNT NKQTV NPKU OKQV upMQNURTMNPM QKMMM rkfibsbo=mi` NVKNOKOMNQ ODMMM ^N ^H NMTKQRP NKSPV NMVKMVO NKMSQ JPNKV OKQR upMQPSPMMOQT QKMMM _m=`^mfqî=jôhbqp=mi` OVKNOKOMNQ NDMMM Ô ^ NMSKQTS NKRPM NMUKMMS NKQRT NNKO OKQT upMTOVUVPPPU OKORM brolmb^k=fksbpqjbkq=_^kh OOKMNKOMNR NMM ^~~ ^^^ NMNKTVO MKTTR NMOKRST NKRSN NUKP OKRU upMTOUVQROVR NKORM kbqtloh=o^fi=fkco^=cfk OOKMNKOMNR NMMDMMM ^~~ ^^^ NMNKNQQ MKQPQ NMNKRTU MKUNS JRSKR OKSO upMQNRSOROUP RKRMM olèb=eiadp=fk` MQKMPKOMNR RDMMM ^N ^^J NNNKQMO NKNNR NNOKRNT NKPNV JTKP OKSO =upMNMVTOOVVM SKSOR iilvap=qp_=_^kh=mi` PMKMPKOMNR NDMMM _~~O=LGJ ___J NMNKTV MKUSR NMOKSRR RKVOM QSMKR OKRQ upMOOPVOPUTM QKPTR brolmb^k=fksbpqjbkq=_^kh MUKMTKOMNR NDMMM ^~~ ^^^ NMUKNPU PKTRP NNNKUVN NKSVO PMKS OKUS upMRTVOTPONV OKTRM hct MTKMVKOMNR NDMMM ^~~ ^^^ NMQKVPP NKVMN NMSKUPQ NKONT JOMKN PKNO NQKMRKOMNO
fpfk `çìéçå k~ãÉ j~íìêáíó jáåáãìã=máÉÅÉ jççÇóDë pCm mêáÅÉ ^ÅÅK=fåíK aáêíó=mêáÅÉ vqj pt^m jçÇ=aìê upMQVTQSPTTT PKMMM brolmb^k=fksbpqjbkq=_^kh MTKNOKOMNR NMM ^~~ ^^^ NMQKMQT NKPOU NMRKPTR NKUNO PUKU PKPP coMMNMVQOMUS OKORM `^fppb=aD^jloq=abqqb=pl` MTKNOKOMNR NDMMM ^~~ ^^H NMMKTVP MKVVS NMNKTUV OKMNR SPKN PKPS upMTSQVQSVMM NKSOR `lrk`fi=lc=brolmb MTKNOKOMNR NDMMM ^~~ NMMKQVU MKOOO NMMKTOM NKQTV QKS PKQN upMTTRNOPUNO NKRMM iJ_^kh=_t=clboabo_^kh MTKNOKOMNR NDMMM ^~~ ^^^ VVKUSN MKMVU VVKVRV NKRQM NMKS PKQO upMTRNUMMTNQ NKMMM ^pf^k=absbilmjbkq=_^kh NRKNOKOMNR NDMMM ^~~ ^^^ NMMKNUR MKONS NMMKQMN MKVQT JQTKT PKQV upMTROMURSNO NKPTR hljjrkî_^khbk=^p OPKNOKOMNR NDMMM ^~~ NMMKMUV MKOVP NMMKPUO NKPQV JUKU PKQT upMOQNMQONQN QKSOR db=`^mfqî=rh=crkafkd NUKMNKOMNS NDMMM ^N ^^H NMTKUOP NKRNS NMVKPPV OKPTM NMMKN PKPQ upMTPNNOUNUS NKTRM hct OOKMNKOMNS NDMMM ^~~ ^^^ NMNKSOQ MKRUP NMOKOMT NKOVR JSKN PKRP upMOTQVUTUTP QKUTR brolmb^k=fksbpqjbkq=_^kh MTKMVKOMNS NDMMM ^~~ ^^^ NNNKSOP PKPTM NNQKVVP OKMOS RTKO PKUO upMTQPUVVVSQ OKNOR kbabo=t^qbopè^mp_^kh MTKMVKOMNS NDMMM ^~~ ^^^ NMMKSMQ MKRTR NMNKNTV NKVTS QTKV QKMO upMSMQUMQNVQ RKRMM iilvap=qp_=_^kh=mi` ORKMVKOMNS NDMMM ^N=LGJ ^ NMRKNSV MKTVO NMRKVSN QKNTN OUQKN PKTO upMQRPOVVNTP RKORM jlq^_fifqv=lmbo^qflkp=do OUKMVKOMNS RMDMMM Ô ^H NNOKRUT MKTNP NNPKPMM OKNVN TVKN PKUQ upMQRUPNSRRM TKNOR lia=jrqrî=mi` NVKNMKOMNS RMDMMM _~~N NNPKORO MKRQR NNPKTVT PKUMR ORVKO PKTN upMSMOONTNRV PKORM brolmb^k=fksbpqjbkq=_^kh MTKNOKOMNS NMM ^~~ ^^^ NMRKMPR NKQPV NMSKQTQ OKMTU RTKO QKNT upMRUTVTRVSN PKORM i^katfoqpèK=obkqbk_^kh MTKNOKOMNS RMDMMM ^~~ ^^^ NMTKPMU NKQPV NMUKTQT NKRTQ SKT QKOM upMTTUVRNSTO NKTRM `lrk`fi=lc=brolmb NVKNOKOMNS NDMMM ^~~É NMMKMOP MKMQP NMMKMSS NKTQQ ONKO QKPQ upMQOMQMNTTV RKUTR _^pc=pb PNKMPKOMNT RMDMMM ^N ^H NNTKPVN MKTRT NNUKNQU OKMUN SOKM QKPM upMQPQQOPVOS QKTRM rkfibsbo=mi` NSKMSKOMNT ODMMM ^N ^H NNQKPSP QKPSN NNUKTOQ NKTSU OOKV QKQO upMRQNRRUMUR QKNOR ^__bv=k^qi=qob^prov=pbos NQKMVKOMNT RMDMMM ^N=LGJ ^ VTKVPO OKTTP NMMKTMR QKRST OVRKS QKRR upMRQOUOPUVO RKNOR `lJlmbo^qfsb=_^kh=mi` OMKMVKOMNT RMDMMM ^P NMNKUTQ MKUMU NMOKSUO QKTNQ PNMKR QKQR upMRQQUPTSTS QKNOR db=`^mfqî=rh=crkafkd OUKMVKOMNT ODMMM ^N ^^H NMSKOST OKSNR NMUKUUO OKUQS NQVKU QKSV upMRRQSRUVQT PKORM o^_l_^kh=kbaboi^ka MNKNNKOMNT NDMMM ^~~=LGJ ^^ NMOKSQ NKTRU NMQKPVU OKTON NMPKP QKUU upMQPQMQMNST QKNOR brolmb^k=fksbpqjbkq=_^kh MTKNOKOMNT NDMMM ^~~ ^^^ NNMKPRS NKUOS NNOKNUO OKNOT TRKV QKVO upMRVRTMTRTM QKMMM qlvlq^=jlqlo=òbafq=`lom MTKNOKOMNT NDMMM ^~P ^^J NMUKVRU NKTTM NNMKTOU OKOSQ SUKU QKVO upMPRTUVNOMU SKSOR r_p=^d=ilkalk NNKMQKOMNU RMDMMM ^~P=LGJ ^ NNPKVO MKSRP NNQKRTP PKVPP OOVKM QKVN upMSNUUPPSPR QKSOR `lsbkqov=_iad=pl`fbqv NVKMQKOMNU NMMDMMM ^~~ NMVKQTV MKPRR NMVKUPQ OKUSN NOTKN RKNU upMSNSPVPNQR VKUTR _lmô^k=cfk^k`b=mi` PMKMQKOMNU NMMDMMM _~P _H NMPKR MKQSS NMPKVSS VKMUQ TSTKU QKPU upMQRQRMVQRR RKMMM ppb=mi` MNKNMKOMNU RMDMMM ^P ^J NNOKOO PKNOU NNRKPQU OKUTN NOPKR RKPS upMNSMPUSUTR QKTRM brolmb^k=fksbpqjbkq=_^kh NRKNMKOMNU NDMMM ^~~ ^^^ NNOKQUP OKTVM NNRKOTP OKSMU VOKP RKQR coMMNMVVQPTS PKTRM `^fppb=aD^jloq=abqqb=pl` NRKNMKOMNU NDMMM ^~~ ^^H NMSKOON OKOMP NMUKQOQ OKSTV NMMKT RKRT upMQMMTUMVSM UKNOR sla^clkb=dolrm=mi` OSKNNKOMNU RMDMMM ^P ^J NPNKOSP PKUQN NPRKNMQ OKUNM NOVKM RKNV upMRTUOSQUTM PKUTR qlqî=`^mfqî=p^ NQKNOKOMNU NDMMM ^~N ^^J NNMKMVN NKSQN NNNKTPO OKOMU RMKO RKTR upMTPVVPPQON PKPTR _jt=cfk^k`b=ks NQKNOKOMNU NDMMM Ô ^ NMPKVPT MKVSU NMQKVMR OKTNN VQKO RKTU upMRUTMUOUPQ RKMMM pl`fbqb=dbkboîb OMKNOKOMNU NMMDMMM ^N=LGJ ^ NMMKUMT OKMPS NMOKUQP QKUQV PNPKO RKQN upMTSQPNPOVN QKPTR bsbovqefkd=bsbovtebob=cf OUKMPKOMNV NMMDMMM _~~O ___J NMMKNQP MKRVV NMMKTQO QKPQV ORPKN RKTV upMTQNVSRVQM PKRMM a^fjibo=fkqi=cfk^k`b=_s MSKMSKOMNV NDMMM ^P ^J NMNKUOV MKVSS NMOKTVR PKOMS NPSKP RKVV upMTQMTTOQOM QKPTR db=`^mfqî=rh=crkafkd PNKMTKOMNV ODMMM ^N ^^H NMQKVQP NKOTV NMSKOOO PKRUO NTTKP RKVQ upMQPVUNTVMU SKMMM vlohpefob=t^qbo=pos=_oâ ONKMUKOMNV RMDMMM ^P ^J NNVKURS QKQOS NOQKOUO OKVOP NOTKM RKUO upMQRMTUSUMM RKSOR k^qflktfab=_iad=pl`fbqv MVKMVKOMNV RMDMMM Ô ^H NMVKOPQ NKMRR NNMKOUV QKNPO OQNKS RKUM upMQOOSUUOUO SKNOR s^qqbkcîi=^_ NSKNOKOMNV RMDMMM Ô ^J NOQKS OKRSM NOTKNSM OKRNT SSKQ SKNS upMQSPRUUMRO RKUTR db=`^mfqî=rh=crkafkd MQKNNKOMOM ODMMM ^N ^^H NNQKNNS PKNPM NNTKOQS PKUUO OMMKU SKRU upMRTTPTOQTS QKSOR o^_l_^kh=kbaboi^ka NPKMNKOMON NDMMM ^~~=LGJ ^^ NMTKSOO NKRUM NMVKOMO PKRUP NRUKP TKMP coMMNMTONTMQ SKNOR dac=prbw NNKMOKOMON RMDMMM ^N=LGJ ^ NNVKTTS NKSMT NONKPUP PKQSM NRSKT SKUS upMSNUMNNQSP RKPTR fkd=_^kh=ks NRKMQKOMON NMMDMMM ^~P=LGJ ^H NMRKTRU MKQTN NMSKOOV QKRTO ORQKO TKMN upMQQSPUNVPM RKTRM _ôì^vp=_^kh=mi` NTKMUKOMON RMDMMM ^~P=LGJ ^H NMVKMNV QKPMR NNPKPOQ QKRPO ORMKT SKVO upMSTTMTPOMS QKORM ppb=mi` NQKMVKOMON NMMDMMM ^P ^J NMSKOST OKURT NMVKNOQ PKQRN NPOKO TKQU NQKMRKOMNO
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Trading & Advisory CHF H41 (58) - Vontobel Holding AG

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