External Asset Managers

Performance creates trust

Vontobel Investment Banking

Our history

Foundation, listing and growth

1924 Friedrich Emil Haeberli establishes the brokerage firm Haeberli & Cie in Zurich

1936 Jakob Vontobel takes over the brokerage firm and establishes the limited partnership J. Vontobel & Co. His personality and his entrepreneurial spirit lay the foundation for today's bank

1943 Jakob Vontobel's son, Dr Hans Vontobel, joins the company and in 1951 becomes a partner with unlimited liability. In the decades to come, the bank under his leadership becomes one of Switzerland's leading private banks

1983 Bank J. Vontobel & Co is converted into a public limited company

1986 The bearer shares of Vontobel Holding AG are listed on the Zurich stock exchange

1991 Dr Hans Vontobel steps down as Chairman of the Board of Directors in favour of his son Dr Hans-Dieter Vontobel and is appointed Honorary Chairman

Our history

New horizons

2006 Vontobel acquires Harcourt and takes over the brokerage and corporate finance activities of Lombard Odier Darier Hentsch

2009 Bank Vontobel Europe AG, based in Munich, a wholly owned subsidiary of Vontobel, receives its full banking licence for Germany and begins its operational activities. Vontobel takes over Commerzbank (Schweiz) AG

2010 Establishment of Vontobel Swiss Wealth Advisors AG in Zurich, branch offices opened in Basel and Berne

2012 Establishment of Vontobel Financial Products (Asia Pacific) Pte. Ltd. in Singapore and Vontobel Wealth Management (Hong Kong) Ltd. in Hong Kong

2014 Vontobel repurchases the stake of long-term cooperation partner Raiffeisen. The shares are cancelled

2015 Vontobel acquires a majority stake in the UK company TwentyFour Asset Management, London

Vontobel has acquired Finter Bank Zürich from Italmobiliare and has assumed control of its locations in Zurich and Lugano (announcement from 7 Sept 2015) Top picture: head office at Bahnhofstrasse 3 in Zurich from 1964 to 2007; bottom picture: head office “Vontobel Campus” at Gotthardstrasse 43 from 2007, another 20 locations worldwide

The 7 convincing reasons for an External Asset Manager to work

together with Vontobel

1. Thorough soundness, independence, and no conflicts of interest

 One client advisor in charge of all responsibilities

 Well-coordinated, experienced teams for efficient service

 Accessible from 7.00 a.m. to 10.00 p.m.

2. One point of contact

3. Modern front systems

4. Fully integrated trading/

execution platform

 Direct market access

 Proximity to the capital markets

 Established global network of brokers

 EAMNet

 E-banking with direct trading/market access

 Special functions for independent asset managers

 Established, innovative solutions provider

 Experienced team of specialists

 derinet & deritrade®: unique e-tools

5. Direct access to No. 1

issuer of structured products

 International award winning equity research

 Broadest coverage of Swiss stock market

 Accredited team of analysts

6. Direct access to No. 1

Swiss equity research house

 Innovative and transparent investment solutions

 Active asset management

 Focused on clearly defined competencies

7. Direct access to

standing asset managers

Services

Stable family shareholder base

Vontobel highlights

Vontobel: Tradition and entrepreneurial independence



90 years independence



Listed on Swiss Stock Exchange since 1986 (Bloomberg

code VONN SW)



Three business units

- Private Banking

- Asset Management

- Investment Banking



Key facts (www.vontobel.com)

- Total client assets: CHF 187.2 bn

- Employees: around 1‘500

- Equity: CHF 1.42 bn

- BIS tier 1 capital ratio: 17.9%

Shareholder structure as at 31 December 2015 / Based on share capital of CHF 56,875 million.

1 _{of which: 17.2% Vontobel Foundation and Pellegrinus Holding, 13.1% Vontobel families,}

14.3% Vontrust family holding, 1.2% Vontobel and management

As at 31.12.2015

17.0%

Unlocked shares of the main shareholders

37.2%

Publicly held

45.8%

Shares in the pooling

agreement

1

Where to find us

Serving you at 22 locations worldwide

Sydney Dallas New York Dubai London Luxembourg Geneva Hamburg Cologne Munich Frankfurt Vienna Singapore Hong Kong Basel Berne Zurich Vaduz Lucerne Madrid Milan Lugano

Our integrated business model

Private

Banking Investment Banking

Asset Management

Vontobel

 Asset management

 Investment advice

 Services

- Financial and retirement advice

- Advice and management of foundations

- Credit

In our integrated business model we combine the expertise of all three business units, promote close cooperation and

thereby create synergies and real added value for our clients.

 Active asset management with multi-boutique approach

 Five clearly defined investment strategies

 Global distribution of institutional mandates and investment funds

 Financial Products

 Brokerage

 Services for external asset managers

 Transaction Banking

Investment Advisory

Relationship Management

External Asset Manager Business:

Personal support through experienced team

Your

principal contact person

is responsible for overseeing

the relationship with you and your clients. He is supported

by a team of specialists and will guarantee:



Highest service quality



Fast handling of your orders for all asset classes



Swift support for you and your clients needs



Access to our Vontobel specialists

Your

principal contact person

provides

investment advisory

support

. He accompanies you throughout the investment

process and is a well-versed discussion partner on

investment matters. He relies on the

support of a

long-experienced investment specialist

. We offer you:



Morning call/briefing



Market updates during the trading day



Elaboration of investment themes (ad-hoc and periodical)



Switch suggestions/second opinions

Our services for external asset managers:

Personal support through experienced team



Strengthening of the personal service offering capabilities of the relationship managers



Single sign-on to all Vontobel platforms which are relevant for External Asset Managers



Professional support in the areas of product information, research und administration

Vontobel EAMNet – The platform for External Asset Managers

Modern navigation system in order to have fast and direct access to all relevant Information

Direct access to all relevant Vontobel Research- und Product platforms

Daily Research Reports and Updates

Our services for external asset managers:

Reliable trading and information systems

Modern

infrastructure

Our systems are designed to provide you with optimal, reliable support in your daily work with your clients. We offer you a contemporary state-of-the-art platform: our new Vontobel e-banking portal with trading functions, which was specially developed to meet your needs.



An innovative tool that offers you lots of freedom

Exchange

trading

 Direct access to numerous stock exchanges

 Real-time order book

 Batch orders with individual execution

 Trade settlement documentation available electronically

Client management

_ Formation of individual client groups _{Vontobel asset and account statements available electronically}

Monitoring

 Maturity date lists and account balance lists

Our services for external asset managers:

Fundamental Research on Swiss Equities

Vontobel has a very strong and experienced Research Team featuring 18 senior analysts

Coverage

Our specialists cover more than 150 Swiss stocks and are highly experienced in international sectors.

Road shows

One of our prime strengths is our highly ranked road shows, which we organize all around the globe; about _{200 each year.}

Conferences

Every year, Bank Vontobel stages high-quality sector conferences (Banking Day, Healthcare).

Services

Bank Vontobel offers a wide range of daily, periodical and ad-hoc research publications.

Media

The access portal to our Vontobel Research Website is: https://research.vontobel.com

The external awards and rankings achieved by Vontobel speak for themselves. Our consistently high rankings in the

Institutional Investor and Thomson Excel surveys testify to our clients’ appreciation of our expertise and service quality

Our services for external asset managers:

Fundamental Research on Swiss Equities

Our knowledge of small & midsized enterprises is also unique

Systematic coverage

of companies

Bottom-up analysis of approx. 150 Swiss and approx. 20 international companies with standardized profit models, price targets and ratings.

Access to companies

 In-depth industry know-how and “ahead of the curve” for the benefit of our clients. Arrangement of 1-to-1 meetings with the top management of the companies we cover through road shows and reverse road shows.

Wide range of theme

and sector research

Early recognition of trends and proactive implementation into investment advice.

Regular contacts

Our services for external asset managers:

Best Execution Services

Transaction Banking

Trading volumes

Vontobel processes yearly over 5.5 m. orders over its own trading platform

Market Access

Vontobel market access reaches over 50 countries which are offered in close partnership with our custodians

Market coverage

Vontobel covers 99% of the global bond markets and 97% of the securities* market

* According to MSCI All Country Index

Memberships

Direct membership in 12 market exchange such as

SWX, XETRA, Euronext, Eurex

Clearing

Highest STP-Rate in peer group (>98%)*

Highest securities clearing efficiency*

* According to swissbenchmarking „Processing Benchmarking 2011”

Custody volumes

Custody volume of around CHF 180.8 bn. of which CHF 38.6 bn. pure custody mandates

Clients

Vontobel processes all the orders for its private and institutional clients as well as for all external asset managers

Valoren

Greatest securities universe in peer group with around 50’000 instruments in all asset classes*

* According to swissbenchmarking „Processing Benchmarking 2011”

IB Financial Products has unique selling propositions that set it apart

Product range

More than 100,000 products (CH & DE) in the investment and leverage segment; around 1,000 underlyings worldwide

Quality standards

Distribution & Listing CH & DE; support services throughout the value chain (before, during and after the term _{of the product); narrow spreads; high liquidity, smooth- running secondary market}

Expertise

Recognized market leader in structured products; 120 experts worldwide in Advisory

& Distribution, Risk Management Equities & FIRC, Engineering & Development

Innovation

Topical leader in products with investment themes, products and services reference bond; technology leader thanks to in the sector: first fully automated multi-issuer market proximity & high- end systems; market platform (deritrade®)

Our services for external asset managers:

Solutions provider for structured products

deritrade®

Derinet



deritrade® enables client

advisors to independently

structure products to suit

their end-clients’ needs.



derinet enables clients to

search for derivative

products suited to his or

her risk profile and needs.

It also provides access to

product information and

documentation.

derinews



derinews is our monthly

newspaper presenting the

latest investment themes.



Derinews livepaper is the

first online financial

newspaper in Switzerland.

Multi Issuer Platform



Thanks to the Multi Issuer

Platform, products of

selected third-party

issuers can be created and

concluded in a matter of

seconds via Vontobel

deritrade®.

Vontobel Asset Management



Vontobel Asset Management is an

active asset manager



Vontobel Asset Management follows a specialist approach through a

Multi-Boutique business model

and specialises in

5 Investment Boutiques:

- Quality Growth Equities - Multi Asset Class Investing - Fixed income

- Alternatives - Global Thematic



We focus our business model (products and services) on

institutional clients and multipliers

such as Consultants; the

fund business will remain important by providing

standardised access

to our strategies for institutional and private

investors



Our distribution and client coverage follow a

specialist and Boutique-focused model

designed to access our target

client segments worldwide



We have a clear go-to-market strategy, based on client segmentation and market sizing for our boutiques



Vontobel Asset Management is

growing organically

, but we regularly evaluate attractive M & A opportunities to scale

the boutiques or add expertise or market coverage

 Active bond management in order to achieve added value even in a difficult market environment

 Global investment solutions in fixed income with a particular focus on corporate bonds and emerging markets

Multi Asset Class Investing

Quality Growth Equities

Vontobel Asset Management

AuM

(CHF bn)

48.0

 Focus on high-quality companies with favourable growth prospects at sensible prices

 Six regional strategies

 Focus on global/emerging market equities

 “Outcome Driven Investments” (odi) products with robust portfolio construction and risk process

 Actively managed and broadly diversified Balanced

and MAC products with global focus

Global Thematic Investing

Fixed income

 mtx investing in Global Leaders: regional strategies with integration of ESG criteria

 Global trends strategies cover the themes energy and resource scarcity

 Swiss Equities: Large, small and mid caps and high dividend yield strategies

Alternatives

TwentyFour Asset Management

 London-based fixed income specialist

 Focused on specialist strategies including asset backed securities, unconstrained fixed income and credit

 Absolute return strategies

 Research-driven risk premium strategies

 Actively-managed commodity strategies

 Hedge Fund Advisory

AuM (CHF bn)

14.5

4.8

3.4

As at 31 December 2015

Note: PLF / Other AuM of CHF 2.7 billion for boutiques excluded above

Your contacts

Thomas Dettwyler, Head EAM Zürich

Tel. +41 58 283 70 55

[email protected]

Franco Sammarchi, Head EAM Basel

Tel. +41 58 283 21 32

[email protected]

Ivana Benedetti, Head EAM Lugano

Brian Fischer, Head EAM

Tel. +41 58 283 63 21 [email protected]

Marc Venti, Head EAM Genf

Tel. +41 58 283 26 46 [email protected]

Marion Ingold,

Disclaimer

This document was produced by Bank Vontobel AG (hereafter “Vontobel”) with the greatest of care and to the best of its knowledge and belief. However, Vontobel provides no guarantee with regard to its content and completeness and does not accept any liability for losses which might arise from making use of this information. The opinions expressed in this document are those of Vontobel at the time of writing and are subject to change at any time without notice. If nothing is indicated to the contrary, all figures and data are unaudited. This document is provided for information purposes only. It does not constitute an offer or a recommendation to buy or sell financial instruments or banking services. This document may not be reproduced either in part or in full without the written permission of Vontobel. It is expressly not intended for persons who, due to their nationality or place of residence, are not permitted access to such information under local law. Copyright © 2013 Bank Vontobel AG and/or its affiliates. All rights reserved.