# 1/5
| General Information |  |  |
| --- | --- | --- |
| Asset Manager | Vontobel Asset Management S.A. - Munich branch |  | Management Fee p.a. | 0.50% |
| Management Company | Vontobel Asset Management S.A. |  | TER [as of 31.08.2021] | 0.68% |
| Custodian | RBC Investor Services Bank S.A. |  | Launch Date (Shareclass) | 26.10.2018 |
| Investment Company | Vontobel Fd., SICAV, UCITS compliant |  | Launch Price | 100.00 |
| Fund Domicile | Luxemburg |  | ISIN / WKN | LU1879231667 / A2N8MA |
| Fund Currency | EUR |  | Valor | 43789873 |
| Share Class Currency | EUR |  | Bloomberg | VOVAIIE LX |
| Net Asset Value | 109.31 |  | Distribution Policy | Accumulating |
| Fund Volume [Mln. EUR] | 82.23 |  | SFDR | Article 8 |

Risk Premium
Fi
| The equity market risk premium is the compensation an investor receives for assuming the systematic risk of an equity investment. It reflects the entrepreneurial risk associated with the stock market. |
| --- |
| Commodity futures markets provide an availability premium (convenience yield) and a liquidity premium. The market- neutral strategies are implemented through tactical positions without agricultural goods and live cattle (exAL). |


## Investment Strategy
Risk Premium
Eq
Risk Premium
Co
Price Development I in EUR*
The risk premium in bond markets is caused by unexpected changes in the term structure of interest rates, which may be caused be inflation and shifts in market participants’ preference for intertemporal consumption.

## Indexed - since Inception	Performance per calendar year in %
140
135
130
125
120
115
110
105
100
95
90
2018	2019	2020	2021	2022	2023
25
20
15
10
5
0
-5
-10
-15
-20
-25
2018	2019	2020	2021	2022	2023

## 2/5	Performance of I share class per calendar year in % (EUR)*
2018	2019	2020	2021	2022	2023	Total
| since inception | Fund | -0.02 | 20.18 | 1.48 | 7.93 | -20.74 | 4.79 | - | - | - | - | - | - | 9.31 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equities | -1.95 | 8.41 | -5.17 | 11.06 | -7.20 | 1.95 | - | - | - | - | - | - | 6.28 |
| Bonds | 2.20 | 11.67 | 6.60 | -4.23 | -13.16 | 2.64 | - | - | - | - | - | - | 2.08 |
| Commodities | -0.27 | 0.10 | 0.05 | 1.10 | -0.37 | 0.20 | - | - | - | - | - | - | 0.95 |

Jan	Feb	Mr	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
|  | Fonds | 4.79 | - | - | - | - | - | - | - | - | - | - | - | 4.79 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2023 | Equities | 1.95 | - | - | - | - | - | - | - | - | - | - | - | 1.95 |
| Bonds | 2.64 | - | - | - | - | - | - | - | - | - | - | - | 2.64 |
|  | Commodities | 0.20 | - | - | - | - | - | - | - | - | - | - | - | 0.20 |


## Performance of I share class in % (EUR)*
| 1 month	YTD	3 years p.a.	5 years p.a.	since inception |
| --- |
| Fund	4.79	-16.94	-4.09	-	9.31 |

| 02/2018 - 01/2019	02/2019 - 01/2020	02/2020 - 01/2021	02/2021 - 01/2022	02/2022 - 01/2023 |
| --- |
| Fund	-	20.31	-2.13	3.36	-12.80 |

* Source: Vontobel Asset Management AG. Historical performance is not an indicator of current or future performance. The performance data do not take into account the commissions and costs charged on the issue and redemption of units. The fund's return may rise or fall as a result of currency fluctuations.

## Fund Characteristics
Return and Risk	Correlations
| Return since inception p.a. [%] | 2.11 |
| --- | --- |
| Volatility [3 years, annualised] | 11.86 |
| Sharpe Ratio [3 years, annualised] | - |
| Sharpe Ratio [since inception, annualised] | 0.22 |
| Best Month [%] | 5.82 |
| Worst Month [%] | -9.04 |
| Positive Months | 30 |
| Value at Risk 95/1M [% ex-ante] | 3.47 |
| Duration [years] | 5.50 |

HFRI Index
BB Commodities
iBoxx € Eurozone
3M-EURIBOR
1
0.5
0
-0.5
-1
MSCI World
EuroStoxx50
iBoxx € Germany

## Return Attribution Current Month in % (EUR)	Risk Attribution (VaR 1M/95%) Current Month in % (EUR)
6.0	8.0
5.0
4.0
6.0
3.0	4.0
2.0
1.0
2.0
0.0
Equities 1.95
Bonds 2.64
Commodities 0.20
Fund 4.79
0.0
Equities 3.50
Bonds 3.10
Commodities 0.71
Div.
-3.84
Fund 3.47
Weighted return contribution per subcomponent

Translation (ENDE, 2023-01-01):
# 1/5
| Stammdaten |  |  |
| --- | --- | --- |
| Asset Manager | Vontobel Asset Management S.A. - Niederlassung München |  | Verwaltungsgebühr p.a. | 0.50% |
| Verwaltungsgesellschaft | Vontobel Asset Management S.A. |  | TER [per 28.02.2022] | 0.68% |
| Verwahrstelle | RBC Investor Services Bank S.A. |  | Auflagedatum (Anteilsklasse) | 26.10.2018 |
| Investmentgesellschaft | Vontobel Fd., SICAV, UCITS konform |  | Preis bei Auflage | 100.00 |
| Fondsdomizil | Luxemburg |  | ISIN / WKN | LU1879231667 / A2N8MA |
| Fondswährung | EUR |  | Valorennummer | 43789873 |
| Anteilsklassenwährung | EUR |  | Bloomberg | VOVAIIE LX |
| Nettoinventarwert | 109.31 |  | Ausschüttungsart | Thesaurierend |
| Fondsvolumen [Mio. EUR] | 82.23 |  | SFDR | Artikel 8 |

Risk Premium
Eq
Risk Premium
Fi
| Die Aktienmarktrisikoprämie ist die Entschädigung, welche ein Investor für die Übernahme des systematischen Risikos einer Aktienanlage erhält. Sie reflektiert das mit dem Aktienmarkt verbundene unternehmerische Risiko. |
| --- |
| In den Rohstoff-Futuresmärkten werden eine Liquiditätsprämie sowie eine Verfügbarkeitsprämie (Convenience Yield) erschlossen. Die Umsetzung erfolgt marktneutral durch taktische Positionen in aktiven Strategiebausteinen ohne Agrargüter und Lebendvieh (exAL). |


## Investmentstrategie
Risk Premium
Eq
Risk Premium
Co
Wertentwicklung I in EUR*
Die Risikoprämie im Anleihemarkt geht zurück auf unerwartete Änderungen der Zinsstruktur, die von Inflation und der Präferenz der Marktteilnehmer für intertemporale Konsumverschiebung verursacht werden.

## Indexiert - Seit Auflage	Performance pro Kalenderjahr in %
140
135
130
125
120
115
110
105
100
95
90
2018	2019	2020	2021	2022	2023
25
20
15
10
5
0
-5
-10
-15
-20
-25
2018	2019	2020	2021	2022	2023

## 2/5	Performance der I Anteilsklasse pro Kalenderjahr in % (EUR)*
2018
2019	2020	2021	2022

## 2023
Total
|  | Fonds | -0.02 | 20.18 | 1.48 | 7.93 | -20.74 | 4.79 | - | - | - | - | - | - | 9.31 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Seit Auflage | Aktien | -1.95 | 8.41 | -5.17 | 11.06 | -7.20 | 1.95 | - | - | - | - | - | - | 6.28 |
| Anleihen | 2.20 | 11.67 | 6.60 | -4.23 | -13.16 | 2.64 | - | - | - | - | - | - | 2.08 |
|  | Rohstoffe | -0.27 | 0.10 | 0.05 | 1.10 | -0.37 | 0.20 | - | - | - | - | - | - | 0.95 |

Jan
Feb
Mär	Apr	Mai	Jun	Jul	Aug	Sep	Okt	Nov
Dez
Total
|  | Fonds | 4.79 | - | - | - | - | - | - | - | - | - | - | - | 4.79 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2023 | Aktien | 1.95 | - | - | - | - | - | - | - | - | - | - | - | 1.95 |
| Anleihen | 2.64 | - | - | - | - | - | - | - | - | - | - | - | 2.64 |
|  | Rohstoffe | 0.20 | - | - | - | - | - | - | - | - | - | - | - | 0.20 |


## Performance der I Anteilsklasse in % (EUR)*
| 1 Monat	YTD	3 Jahre p.a.	5 Jahre p.a.	Seit Auflage |
| --- |
| Fonds	4.79	-16.94	-4.09	-	9.31 |

| 02/2018 - 01/2019	02/2019 - 01/2020	02/2020 - 01/2021	02/2021 - 01/2022	02/2022 - 01/2023 |
| --- |
| Fonds	-	20.31	-2.13	3.36	-12.80 |

* Quelle: Vontobel Asset Management AG. Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar. Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Anteile erhobenen Kommissionen und Kosten unberücksichtigt. Die Rendite des Fonds kann infolge von Währungsschwankungen steigen oder fallen.

## Kennzahlen
Ertrag und Risiko	Korrelationen
| Rendite seit Auflage p.a. [%] | 2.11 |
| --- | --- |
| Volatilität [3 Jahre, annualisiert] | 11.86 |
| Sharpe Ratio [3 Jahre, annualisiert] | - |
| Sharpe Ratio [seit Auflage, annualisiert] | 0.22 |
| Bester Monat [%] | 5.82 |
| Schwächster Monat [%] | -9.04 |
| Positive Monate | 30 |
| Value at Risk 95/1M [% ex-ante] | 3.47 |
| Duration [Jahre] | 5.50 |

HFRI Index
BB Commodities
iBoxx € Eurozone
3M-EURIBOR
1
0.5
0
-0.5
-1
MSCI World
EuroStoxx50
iBoxx € Germany

## Renditeattribution aktueller Monat in % (EUR)	Risikoattribution (VaR 1M/95%) aktueller Monat in % (EUR)
6.0
5.0
4.0
3.0
2.0
1.0
0.0
Aktien 1.95
Anleihen 2.64
Rohstoffe 0.20
Fonds 4.79
8.0
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
Aktien 3.50
Anleihen 3.10
Rohstoffe 0.71
Div.
-3.84
Fonds 3.47
Gewichteter Renditebetrag je Teilkomponente