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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 />

upMRPTRUOSSV NKORM hljjrkbhobafq MPKMVKOMNP NDMMM ^~~ ^^^ NMMKSVU MKUUO NMNKRUM MKTMS OTKP NKOT<br />

rpMQRNTm^aQO PKSOR ^pf^k=absbilmjbkq=_^kh MRKMVKOMNP NDMMM ^~~ ^^^ NMPKTVU MKTOR NMQKROP MKSTV JORKS NKOS<br />

rpQSRQNM_tTR OKNOR obmr_if`=lc=fq^iv NSKMVKOMNP NMMDMMM ko NMMKRTU MKPSM NMMKVPU NKSTV NUNKR NKOV<br />

upMQQVVOSPVO QKNOR ptfpp=ob=qob^prov=ErpF NTKMVKOMNP ODMMM ^N ^^J NMPKUTP OKTRM NMSKSOP NKNTS SRKP NKOU<br />

rpOVUTURccUO NKORM brolmb^k=fksbpqjbkq=_^kh NTKMVKOMNP NDMMM ^~~ ^^^ NMMKVSN MKOMU NMNKNSV MKROQ JOTKS NKPN<br />

upMTSMNUSURT MKSOR `lrk`fi=lc=brolmb OPKMVKOMNP NDMMM ^~~ ^^^ NMMKNOQ MKMVT NMMKOON MKRPO MKM NKPQ<br />

upMQRNTQUMUM PKORM wrof`e=cfk=irubj_lrod=p^ PMKMVKOMNP NDMMM ^N ^H NMPKMMU OKMQV NMRKMRT NKMOQ RVKS NKPP<br />

upMRQUVVVMQP NKMMM iJ_^kh=_t=clboabo_^kh NRKNMKOMNP NDMMM ^~~ ^^^ NMMKQUP MKRUV NMNKMTO MKSRQ PPKM NKPV<br />

coMMNMVRMSTR MKUTR `^fppb=aD^jloq=abqqb=pl` NRKNMKOMNP NDMMM ^~~ ^^H VVKVPV MKRNR NMMKQRQ MKVNU PUKP NKPV<br />

rpQRUNuM_rNP MKPTR fkqboJ^jbof`^k=absbi=_h MUKNNKOMNP NDMMM ^~~ NMMKMNT MKMMV NMMKMOS MKPSP JOPKO NKQT<br />

rpNVNONS^kMM MKTRM `l`^J`li^=`lLqeb NRKNNKOMNP ODMMM ^~P ^H NMMKUPU MKMMQ NMMKUQO MKNUU RKP NKQU<br />

upMRSONMOSNR NKORM ^dbk`b=co^k`^fpb=absbilm ORKNNKOMNP ODMMM ^^H NMMKPTU MKRVT NMMKVTR MKVVU QNKV NKQV<br />

rpQRVMRU`_TV MKRMM fkqi=_h=ob`lk=C=absbilm OSKNNKOMNP NDMMM ^~~ ^^^ NMMKPQP MKOPU NMMKRUN MKOTQ JOVKO NKRO<br />

rpSPOR`N_dPM NKTMM k^qflk^i=^rpqo^if^=_^kh NMKNOKOMNP NMMDMMM ^~O NMMKTON MKTQN NMNKQSO NKOPM SNKN NKRP<br />

upMQUSNRPQNP OKRMM o^_l_^kh=kbaboi^ka NOKNOKOMNP NDMMM ^~~=LGJ ^^ NMOKMVS NKMTS NMPKNTO NKNQP SQKS NKRP<br />

rpRRSMTd^^PN QKNMM j^`nr^ofb=_h=Ed^oK=^rpqoKF NTKNOKOMNP ODMMM ^~~ ^^^ NMRKRTV NKTMU NMTKOUT MKRRM PKQ NKRQ<br />

rpONSURt_pRO NKURM o^_l_^kh=kbaboi^ka NMKMNKOMNQ NDMMM ^~~=LGJ ^^ NMNKNSR MKSRP NMNKUNU NKNPN SQKN NKSN<br />

upMOUNVNSVPN QKUTR i^katfoqp`eK=obkqbk_^kh NMKMNKOMNQ NDMMM ^~~ ^^^ NMSKUST NKTOM NMUKRUT MKSST SKR NKRV<br />

rpRMMTSVbaOT NKPTR hct NPKMNKOMNQ NDMMM ^~~ ^^^ NMNKPVT MKQTQ NMNKUTN MKROR JTKQ NKSP<br />

upMRTVPSOPNV NKSOR kotK_^kh NTKMNKOMNQ NDMMM ^~N ^^J NMNKPPT MKRQO NMNKUTV MKUNP PSKU NKSQ<br />

rpSTSNST_aMM NKPTR lbh_=lbpqK=hlkqolii_^kh ONKMNKOMNQ NDMMM ^~~ ^^H NMMKVUO MKQQP NMNKQOR MKTUP OSKP NKSR<br />

rpcOUVPq^^QS RKRMM bib`qof`fqb=ab=co^k`b OSKMNKOMNQ ODMMM ^~P ^H NMSKVTR NKSVS NMUKSTN NKPMM TVKU NKSO<br />

coMMNMVVUNMQ NKPTR `^abp=Ecobk`e=dlsq=^dbk`vF OTKMNKOMNQ NDMMM ^~~ ^^H NMMKORM MKQOM NMMKSTM NKOOQ SOKV NKSS<br />

upMOUPUQPNVM RKMMM `lrk`fi=lc=brolmb OVKMNKOMNQ NDMMM ^~~ ^^^ NMSKUNQ NKRMM NMUKPNQ MKVPU TKP NKSQ<br />

rpOVUTURciRM NKORM brolmb^k=fksbpqjbkq=_^kh NQKMOKOMNQ NDMMM ^~~ ^^^ NMNKMVS MKPOP NMNKQNV MKSNR OKQ NKTO<br />

rprTRMMM^iMM RKMMM ol`eb=eiadp=fk` MNKMPKOMNQ ODMMM ^N ^^J NMTKPPV NKMRS NMUKPVR MKUQT PPKS NKTP<br />

upMRVVSQROSP NKPTR _h=lc=bkdi^ka=brol=klqb MTKMPKOMNQ NDMMM ^~~ ^^^ NMNKTQS MKOST NMOKMNP MKQMO JNUKS NKTU<br />

rpRMMTSVacUP PKRMM hct NMKMPKOMNQ NDMMM ^~~ ^^^ NMRKOTU MKSRN NMRKVOV MKRSS JNKO NKTT<br />

upMQVOSQUTVQ OKNOR kbpqib=eliafkdp=fk` NOKMPKOMNQ ODMMM ^~O ^^ NMPKNOT MKPUQ NMPKRNN MKPVS JNOKP NKTV<br />

rpOVUTURbsQO OKPTR brolmb^k=fksbpqjbkq=_^kh NQKMPKOMNQ NDMMM ^~~ ^^^ NMOKVSR MKQNS NMPKPUN MKTPP SKM NKTV<br />

rpNVNONS^iQQ PKSOR `l`^J`li^=`lLqeb NRKMPKOMNQ ODMMM ^~P ^H NMRKVPR MKSOQ NMSKRRV MKPSN JTKO NKTV<br />

coMMNNMNOTPN NKSOR `^fppb=aD^jloq=abqqb=pl` NTKMPKOMNQ NDMMM ^~~ ^^H NMMKTRN MKOTN NMNKMOO NKOMU RPKV NKUM<br />

upMSNMRRRSUN NKRMM _h=kbaboi^kapb=dbjbbkqbk OUKMPKOMNQ ODMMM ^~~ ^^^ NMMKRTM MKOMQ NMMKTTQ NKNUU RUKP NKUP<br />

rpcMUNVebOVP PKPTR _^knrb=mp^=cfk^k`b MQKMQKOMNQ ODMMM _~~N=LGJ ___ VVKTQP MKQMP NMMKNQS PKRNR OSOKM NKTV<br />

upMQOOTRPVRP RKRMM ^_r=ae^_f=dlsq=fkqDi MUKMQKOMNQ NMMDMMM ^~O ^^ NMUKTRM MKRVS NMVKPQS MKUNU NSKM NKUP<br />

rpOVUTURbuMU PKMMM brolmb^k=fksbpqjbkq=_^kh MUKMQKOMNQ NDMMM ^~~ ^^^ NMQKOOS MKPOR NMQKRRN MKTQN NPKT NKUR<br />

rpPMONS__pMT PKNOR bumloq=absbilmjkq=`^k^a^ OQKMQKOMNQ RDMMM ^~~ ^^^ NMRKPTU MKOMM NMRKRTU MKPPP JOQKT NKVM<br />

upMQOSMTURNQ PKPTR pcbc MRKMRKOMNQ NMMDMMM ^~~ ^^H NMQKOMN MKNNP NMQKPNQ NKOMM SQKV NKVN<br />

rpMRRSRn_iNQ PKSOR _m=`^mfq^i=j^ohbqp=mi` MUKMRKOMNQ NDMMM ^O ^ NMQKVUU MKMVN NMRKMTV NKMRV RPKT NKVO<br />

rpMQRNST_tON OKTRM ^pf^k=absbilmjbkq=_^kh ONKMRKOMNQ NDMMM ^~~ ^^^ NMQKTVP NKPQQ NMSKNPT MKPRQ JORKQ NKVP<br />

upMSPOUUPMSN NKMMM hfkdalj=lc=ptbabk MPKMSKOMNQ NMMDMMM ^~~ ^^^ NMNKPTO MKQRS NMNKUOU MKPOS JORKV OKMN<br />

rpOVUTURbvUM PKNOR brolmb^k=fksbpqjbkq=_^kh MQKMSKOMNQ NDMMM ^~~ ^^^ NMQKVNT NKQNR NMSKPPO MKSVT NMKV NKVR<br />

rpMQRNST`^VN MKUTR ^pf^k=absbilmjbkq=_^kh NMKMSKOMNQ NDMMM ^~~ ^^^ NMNKMQS MKPUO NMNKQOU MKPSR JOOKR OKMP<br />

upMRNSOVOPMS OKORM hct NMKMSKOMNQ NDMMM ^~~ ^^^ NMPKPNT OKNMS NMRKQOP MKSOT MKT NKVV<br />

rpSUPOPQU^VU QKNMM lkq^ofl=Emolsfk`b=lcF NSKMSKOMNQ RDMMM ^~O ^^J NMTKNVN NKTOM NMUKVNN MKSNN JNKM NKVS<br />

upMSPTNUTTTP NKMMM hljjrk^i_^khbk=^p NSKMSKOMNQ NMMDMMM ^~~ ^^^ NMMKQSN MKQNV NMMKUUM MKTTS OMKR OKMQ<br />

coMMNMTTROPV PKRMM `^abp=Ecobk`e=dlsq=^dbk`vF MNKMTKOMNQ NDMMM ^~~ ^^H NMQKSNT PKMTO NMTKSUV NKOUM TMKS OKMM<br />

rpPRNTTm^pSR QKPTR co^k`b=qbib`lj MUKMTKOMNQ ODMMM ^P ^J NMSKSPM NKRSU NMUKNVU NKONU UTKM OKMM<br />

rpNOUMOk^_MN NKORM `^fppb=aD^jloq=abqqb=pl` NNKMTKOMNQ NMMDMMM ^~~ ^^H VVKUPQ MKQPU NMMKOTO NKPOU SPKN OKMV<br />

upMQQONVQVOP PKQRM tbpqm^`=pb`rofqfbp=kw=iq OUKMTKOMNQ NMMDMMM ^~~ ^^ NMRKUSN NKMQR NMSKVMS MKTRM OMKS OKMV<br />

NQKMRKOMNO

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