OUR INVESTMENT PERFORMANCEs

As experienced asset managers, we at Victoria Peak Capital Management value measuring the success of the investments we manage for our clients. In order to ensure the highest level of transparency, we have analysed the actual returns of our client portfolios and had the results and methodology audited by the auditing firms KPMG & BDO Switzerland.

INVESTMENT STRATEGIES

1

Fixed Income Portfolio

Client portfolios whose assets are invested in corporate bonds and/or investment funds which solely invest in corporate bonds.

2

Income Plus Yield Portfolio

Client portfolios whose assets are invested to a maximum of 30% in equities, equity funds and alternative investments. The remaining assets are invested in corporate bonds and corresponding funds.

3

Balanced Portfolio

Client portfolios whose assets are invested to a maximum of 70% in equities, equity funds and alternative investments. The remaining assets are invested in corporate bonds and corresponding funds.

4

Dynamic Portfolio

More than 70% of the assets of these client portfolios are invested in equities, equity funds and alternative investments.

INVESTMENT PERFORMANCE

Annualized performance for all client accounts of Victoria Peak Capital Management during the period of 2012 until 2016 (in Euro)*

*The historic data is no guarantee of future performance. The above-mentioned performance results are net results (after deduction of all fees but before tax) and refer to all client accounts of Victoria Peak Capital Management, the parent company of Victoria Peak Capital Management. Victoria Peak Capital Management is an independent company. However, it operates with the same expertise and methodology in the same investment universe.

METHODOLOGY

All client portfolios were divided into four investment strategies in accordance with their respective asset allocation. Then the performance of the four portfolios was determined for the following time period: From the 1st of January 2012 to the 31st of December 2016 (5-year period). The performance values were calculated in Euro based on market prices after charges and before taxes. Each determined yield result is valued based on time and volume. The individual portfolios are compiled as follows.

MANAGEMENT ASSERTIONS

The performance values were determined on the basis of the following key assumptions:

N

The performance calculation was carried out in Euro on the basis of market prices after charges and before taxes.

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The yield results correspond to volume-weighted values. Thus, the performance of a client portfolio with managed assets totalling 1 million Euro has twice as great an impact on the portfolio performance as a client portfolio with only 500,000 Euro under management.

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The performance of the portfolios was calculated using a time-weighted methodology. Inflows and outflows from client portfolios were thus taken into account.

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To allow time for the investment process, the performance was calculated for the quarter following the transfer of the assets. Such an approach is necessary since performance values concern actual realised values and not purely theoretical values.

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The calculation of the portfolio performance encompasses all client accounts at Victoria Peak Capital Management in the respective category. Only around 1% of accounts were left out of the equation due to accounting reasons which would make accurately determining the performance unfeasible.

CONFIRMATION BY KPMG & BDO*

The renowned auditing firms KPMG SA (Geneva) & BDO Switzerland checked all the performance values determined by Victoria Peak Capital Management, including all accompanying statements from the management, in accordance with the International Standards on Assurance Engagements 3000 (ISAE) and drew up a report with their findings. KPMG & BDO confirm while taking into consideration the criteria specified by Victoria Peak Capital Management, that the performance figures of the various client portfolios for the period of the 1st of January 2012 until the 31st of December 2016 were properly calculated and presented. We will gladly provide a copy of the entire auditing report to those who are interested.

*KPMG International is a global network of legally separate and independent companies operating in the fields of auditing, tax advice and business/management consultancy and is based in Zug, Switzerland with operational headquarters in Amstelveen. The name of the company is based on its founders, Klynveld, Peat, Marwick and Goerdeler. With around 162,000 employees at locations in 155 countries and a total of USD 24.8 billion in turnover (2014)[4], KPMG is one of the ‘Big Four’ international auditors. The European group parent company, KPMG Europe LLP, has 32,300 employees across more than 143 locations and achieves turnover of EUR 4.997 billion (2012)[5], making it the largest auditing firm in Europe. For BDO Switzerland 33 locations provide the basis for their national network. BDO offers the most extensive network of offices in the industry. The global BDO network is represented in 154 countries with 1,634 offices and more than 64,300 employees. BDO is the leading international network for medium-sized enterprises.

Contacts
Hong Kong:
Room 603 6 / F Winful Centre 30 Shing Yip Street
Kwun Tong District
HongKong

Switzerland:
Börsenstrasse 3, 8001 Zürich, Switzerland
phone:  +41 435500233

Notices / Disclaimer

Victoria Peak Capital Management Europe is a member of the self-regulatory body, PolyReg, and thereby authorised to function as a financial intermediary as set out in article 2 (3) of the Money Laundering Act. PolyReg is a self-regulatory body recognised by the Swiss Federal Money Laundering Control Authority. PolyReg is established according to Article 24 of the Swiss Money Laundering Act (MLA), acts as a regulatory and supervising Organisation for its members and is subject to supervision by the Swiss Financial Market Supervisory Authority (FINMA).

The information contained in this web page (vpcmgroup.com) and the associated sub-pages does not represent investment advisory services; it exclusively serves the purpose of product description. In particular, this information does not express any suggestions to enter into such transactions of the type referred to. Past performance is no guarantee of future results. The views expressed are those of the portfolio managers at Victoria Peak Capital Management at the time of publication. The views expressed facilitate the understanding of the investment process and are not intended as an investment recommendation. Holdings and allocations are subject to change. No guarantee can be given that the market forecasts will be achieved. The information is only for the use of the person for which it is intended and may not be reproduced or distributed to any other person. Conflicts of interest at Victoria Peak Capital Management cannot always be ruled out. Information on dealing with conflicts of interest is available on request. The information is based on carefully selected sources, which Victoria Peak Capital Management considers reliable, but their correctness, completeness, and accuracy cannot be guaranteed. They do not constitute an offer or invitation to subscribe for or purchase fund units and are provided for information purposes only. Products and services may vary from country to country. Information on this website does not replace the information about this product, which the investment firm may be required to provide individually on the acquisition of the product. The information provided on this website only represents the important features. The tax treatment of a portfolio depends on the individual circumstances of each client and may be subject to change. In case of discrepancies between the English version of any page of this website and a page of this website in another language, the English version shall prevail unless prohibited by applicable law.