УПРАВЛЕНИЕ ИМУЩЕСТВОМ И ИНВЕСТИЦИОННЫЙ

УПРАВЛЕНИЕ ИМУЩЕСТВОМ
И ИНВЕСТИЦИОННЫЙ
КОНСАЛТИНГ
LIECHTENSTEIN
Valartis Bank (Liechtenstein) AG
Schaaner Strasse 27
FL-9487 Gamprin-Bendern
Principality of Liechtenstein
Phone +423 265 56 56
Fax
+423 265 56 99
E-Mail info@valartis.li
www.valartisbank.com
1
ɍɩɪɚɜɥɟɧɢɟɢɦɭɳɟɫɬɜɨɦɢ
ɢɧɜɟɫɬɢɰɢɨɧɧɵɣɤɨɧɫɚɥɬɢɧɝ
ɍɩɪɚɜɥɟɧɢɟɢɦɭɳɟɫɬɜɨɦ
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11 Ɋɨɥɶ ɛɚɧɤɚ
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12 ɉɪɨɮɟɫɫɢɨɧɚɥɶɧɚɹ ɦɟɬɨɞɢɤɚ ɨɛɟɫɩɟɱɢɜɚɟɬ ɨɩɬɢɦɚɥɶɧɨɟ ɪɚɡɜɢɬɢɟ ɢɦɭɳɟɫɬɜɚ
1 ɇɚɲɢ ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ ɫɬɪɚɬɟɝɢɢ ɧɚ ɫɥɭɠɛɟ ȼɚɲɢɯ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɢɧɬɟɪɟɫɨɜ
1 ɉɟɪɜɵɣ ɲɚɝ ± ɷɬɨ ɜɫɟɝɞɚ ɞɨɜɟɪɢɬɟɥɶɧɵɣ ɞɢɚɥɨɝ
1 Ʉɨɦɩɥɟɤɫɧɵɣ ɩɨɞɯɨɞ
1 ɉɪɢɦɟɪ ,PSXlse 7rXst ɜ ɤɚɱɟɫɬɜɟ ɜɥɚɞɟɥɶɰɚ ɫɱɟɬɚ ɜ Valartis Bank (Liechtenstein) AG
1
ɉɨɪɭɱɟɧɢɟɧɚɨɤɚɡɚɧɢɟɤɨɧɫɭɥɶɬɚɰɢɨɧɧɵɯɭɫɥɭɝɩɨɢɧɜɟɫɬɢɰɢɹɦ
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ɑɚɫɬɧɵɟɮɨɧɞɵɩɨɞɛɪɟɧɞɨɦɤɥɢɟɧɬɚ
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ɂɧɬɟɪɧɟɬɛɚɧɤɢɧɝZZZYDODUWLVEDQNOL
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Valartis Bank (Liechtenstein) AG
2
ɍɩɪɚɜɥɟɧɢɟɢɦɭɳɟɫɬɜɨɦ
ɨɬ ɲɜ ɮɪɚɧɤɨɜ ɢɥɢ ɷɤɜɢɜɚɥɟɧɬɚ ɜ ɞɪɭɝɨɣ ɜɚɥɸɬɟ
Ɋɨɥɶ ɛɚɧɤɚ
ȼɚɲɟ ɢɦɭɳɟɫɬɜɨ ɜ ɧɚɞɟɠɧɵɯ ɪɭɤɚɯ
ȼ ɭɫɥɨɜɢɹɯ ɫɬɪɟɦɢɬɟɥɶɧɨ ɪɚɡɜɢɜɚɸɳɢɯɫɹ ɮɢɧɚɧɫɨɜɵɯ ɪɵɧɤɨɜ ɭɫɩɟɲɧɨɟ ɢɧɜɟɫɬɢɪɨɜɚɧɢɟ
ɢɦɭɳɟɫɬɜɟɧɧɵɯ ɰɟɧɧɨɫɬɟɣ ɫɬɚɧɨɜɢɬɫɹ ɜɫɟ
ɛɨɥɟɟ ɫɟɪɶɟɡɧɵɦ ɢɫɩɵɬɚɧɢɟɦ ɇɟɩɪɟɪɵɜɧɵɣ
ɤɨɧɬɪɨɥɶ ɢ ɩɨɫɬɨɹɧɧɵɣ ɚɧɚɥɢɡ ɜɥɨɠɟɧɢɣ ɹɜɥɹɸɬɫɹ ɪɟɲɚɸɳɢɦɢ ɮɚɤɬɨɪɚɦɢ ɭɫɩɟɯɚ ɞɥɹ
ɬɟɯ ɤɬɨ ɧɟɫɦɨɬɪɹ ɧɚ ɜɫɟ ɜɪɟɦɹ ɦɟɧɹɸɳɭɸɫɹ
ɫɢɬɭɚɰɢɸ ɧɚ ɪɵɧɤɟ ɫɬɪɟɦɢɬɫɹ ɜɨɫɩɨɥɶɡɨɜɚɬɶɫɹ ɩɪɟɞɨɫɬɚɜɥɟɧɧɵɦɢ ɲɚɧɫɚɦɢ ɢ ɩɪɨɫɱɢɬɚɬɶ
ɫɭɳɟɫɬɜɭɸɳɢɟ ɪɢɫɤɢ ɉɨɥɭɱɚɹ ɨɬ ȼɚɫ ɦɚɧɞɚɬ
ɧɚ ɭɩɪɚɜɥɟɧɢɟ ȼɚɲɢɦ ɢɦɭɳɟɫɬɜɨɦ ɦɵ ɪɟɲɚɟɦ ɷɬɭ ɚɦɛɢɰɢɨɡɧɭɸ ɡɚɞɚɱɭ ɜ ȼɚɲɢɯ ɢɧɬɟɪɟɫɚɯ Ɇɵ ɩɪɟɞɥɚɝɚɟɦ ȼɚɦ ɩɪɨɮɟɫɫɢɨɧɚɥɶɧɨɟ
ɭɩɪɚɜɥɟɧɢɟ ȼɚɲɢɦ ɢɦɭɳɟɫɬɜɨɦ ɜ ɯɨɞɟ ɤɨɬɨɪɨɝɨ ɧɚɲɢ ɨɩɵɬɧɵɟ ɷɤɫɩɟɪɬɵ ɩɨ ɢɧɜɟɫɬɢɰɢɹɦ
ɨɫɭɳɟɫɬɜɥɹɸɬ ɡɚ ȼɚɫ ɩɟɪɦɚɧɟɧɬɧɭɸ ɨɰɟɧɤɭ
ɪɵɧɤɚ ɢ ɩɪɢɧɢɦɚɸɬ ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ ɪɟɲɟɧɢɹ
Ⱦɥɹ ɞɨɫɬɢɠɟɧɢɹ ɧɚɦɟɱɟɧɧɵɯ ȼɚɦɢ ɮɢɧɚɧɫɨɜɵɯ ɰɟɥɟɣ ɜ ɫɜɨɟɣ ɪɚɛɨɬɟ ɦɵ ɪɭɤɨɜɨɞɫɬɜɭɟɦɫɹ ɩɪɢɧɰɢɩɚɦɢ ɪɚɡɪɚɛɨɬɚɧɧɨɣ ɧɚɦɢ
ɢɧɜɟɫɬɢɰɢɨɧɧɨɣ ɮɢɥɨɫɨɮɢɢ ȿɟ ɜɚɠɧɟɣɲɢɦ
ɷɥɟɦɟɧɬɨɦ ɹɜɥɹɟɬɫɹ ɫɨɜɦɟɫɬɧɨɟ ɨɩɪɟɞɟɥɟɧɢɟ
ȼɚɲɟɝɨ ɢɧɞɢɜɢɞɭɚɥɶɧɨɝɨ ɤɥɢɟɧɬɫɤɨɝɨ ɩɪɨɮɢɥɹ ɢ ɭɱɟɬ ȼɚɲɢɯ ɥɢɱɧɵɯ ɩɨɠɟɥɚɧɢɣ
ɗɬɨ ɩɨɡɜɨɥɹɟɬ ɧɚɦ ɪɚɡɪɚɛɚɬɵɜɚɬɶ ɪɟɲɟɧɢɹ
ɭɱɢɬɵɜɚɸɳɢɟ ȼɚɲɢ ɢɧɞɢɜɢɞɭɚɥɶɧɵɟ ɨɫɨɛɟɧɧɨɫɬɢ ɢ ɧɚɯɨɞɢɬɶ ɞɥɹ ȼɚɫ ɨɩɬɢɦɚɥɶɧɭɸ
ɢɧɜɟɫɬɢɰɢɨɧɧɭɸ ɫɬɪɚɬɟɝɢɸ ȼɵ ɩɨɥɭɱɚɟɬɟ
ɩɪɢɛɵɥɶ ɛɥɚɝɨɞɚɪɹ ɩɪɢɜɥɟɱɟɧɢɸ ɤ ɪɚɛɨɬɟ
ɨɩɵɬɧɵɯ ɥɢɱɧɵɯ ɤɨɧɫɭɥɶɬɚɧɬɨɜ ɢ ɫɩɟɰɢɚɥɢɫɬɨɜ ɩɨ ɢɧɜɟɫɬɢɰɢɹɦ ɜɥɚɞɟɸɳɢɯ ɫɨɛɫɬɜɟɧɧɵɦɢ ©ɧɨɭ-ɯɚɭª ɢɫɩɨɥɶɡɭɹ ɩɪɢ ɷɬɨɦ
ɤɨɦɩɥɟɤɫɧɭɸ ɢɧɮɪɚɫɬɪɭɤɬɭɪɭ ɫɨɜɪɟɦɟɧɧɨɝɨ
ɛɚɧɤɨɜɫɤɨɝɨ ɢɧɫɬɢɬɭɬɚ ɉɨɫɥɟɞɨɜɚɬɟɥɶɧɨɟ
ɩɪɟɨɛɪɚɡɨɜɚɧɢɟ ɢɧɜɟɫɬɢɰɢɨɧɧɨɝɨ ɩɪɨɰɟɫɫɚ
ɹɜɥɹɟɬɫɹ ɱɚɫɬɶɸ ɢɧɜɟɫɬɢɰɢɨɧɧɨɣ ɩɨɥɢɬɢɤɢ
Valartis Bank (Liechtenstein) AG ɢ ɧɚɯɨɞɢɬɫɹ
ɩɨɞ ɩɨɫɬɨɹɧɧɵɦ ɤɨɧɬɪɨɥɟɦ ɧɚɲɟɝɨ ɤɨɦɢɬɟɬɚ
ɩɨ ɢɧɜɟɫɬɢɰɢɹɦ
.
Valartis Bank (Liechtenstein) AG
ɍɩɪɚɜɥɟɧɢɟ ɢɦɭɳɟɫɬɜɨɦ ɞɚɟɬ ȼɚɦ
ɫɥɟɞɭɸɳɢɟ ɩɪɟɢɦɭɳɟɫɬɜɚ
‡ ȼɵ ɩɨɥɭɱɚɟɬɟ ɢɧɞɢɜɢɞɭɚɥɶɧɨɟ ɪɟɲɟɧɢɟ ɭɱɢɬɵɜɚɸɳɟɟ ȼɚɲɭ ɤɨɧɤɪɟɬɧɭɸ ɫɢɬɭɚɰɢɸ ɢ ȼɚɲɭ ɩɨɞɜɟɪɠɟɧɧɨɫɬɶ ɪɢɫɤɚɦ ȼɚɦ ɧɟ ɧɭɠɧɨ ɨɤɚɡɵɜɚɬɶ
ɩɪɢɧɰɢɩɢɚɥɶɧɨ ɚɤɬɢɜɧɨɟ ɜɥɢɹɧɢɟ ɧɚ ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ ɪɟɲɟɧɢɹ
‡ ȼɵ ɨɫɜɨɛɨɠɞɚɟɬɟɫɶ ɨɬ ɧɟɨɛɯɨɞɢɦɨɫɬɢ ɨɫɭɳɟɫɬɜɥɹɬɶ ɤɨɧɬɪɨɥɶ ɡɚ ɪɵɧɤɚɦɢ ɚɧɚɥɢɡɢɪɨɜɚɬɶ
ɢɧɮɨɪɦɚɰɢɸ ɢ ɧɟɫɬɢ ɭɩɪɚɜɥɟɧɱɟɫɤɢɟ ɢɡɞɟɪɠɤɢ.
ɇɚɲɢ ɭɩɪɚɜɥɹɸɳɢɟ ɚɤɬɢɜɚɦɢ ± ɩɨɪɬɮɟɥɶɧɵɟ
ɦɟɧɟɞɠɟɪɵ ɩɪɢɧɢɦɚɸɬ ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ ɪɟɲɟɧɢɹ ɜ ɪɚɦɤɚɯ ɫɨɝɥɚɫɨɜɚɧɧɨɣ ɫ ȼɚɦɢ ɢɧɜɟɫɬɢɰɢɨɧɧɨɣ ɫɬɪɚɬɟɝɢɢ ɢ ɧɟ ɩɪɨɜɨɞɹɬ ɞɨɩɨɥɧɢɬɟɥɶɧɵɯ
ɩɟɪɟɝɨɜɨɪɨɜ ɫ ȼɚɦɢ.
‡ ȼɵ ɦɨɠɟɬɟ ɡɚɤɥɸɱɢɬɶ ɫɩɟɰɢɚɥɶɧɵɟ ɫɨɝɥɚɲɟɧɢɹ
ɜ ɨɬɧɨɲɟɧɢɢ ɢɧɜɟɫɬɢɰɢɢ ɧɚɩɪɢɦɟɪ ©ɧɢɤɚɤɢɯ
ɜɥɨɠɟɧɢɣ ɜ ɚɦɟɪɢɤɚɧɫɤɢɟ ɰɟɧɧɵɟ ɛɭɦɚɝɢª.
‡ Ɉɩɬɢɦɚɥɶɧɨɟ ɫɨɝɥɚɫɨɜɚɧɢɟ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ
ɫɬɪɚɬɟɝɢɣ ɢ ɩɥɚɧɢɪɨɜɚɧɢɟ ɩɨɫɬɨɹɧɧɨɝɨ ɞɨɯɨɞɚ
ɜɨ ɜɫɟ ɛɨɥɟɟ ɧɟɩɪɟɞɫɤɚɡɭɟɦɵɯ ɭɫɥɨɜɢɹɯ ɫɜɹɡɚɧɧɵɯ ɫ ɩɨɫɬɨɹɧɧɨ ɦɟɧɹɸɳɢɦɢɫɹ ɬɟɧɞɟɧɰɢɹɦɢ
ɜ ɷɤɨɧɨɦɢɤɟ ɫɢɥɶɧɵɦɢ ɤɨɥɟɛɚɧɢɹɦɢ ɬɟɦɩɨɜ ɢɧɮɥɹɰɢɢ ɜɚɪɶɢɪɭɸɳɢɦɢɫɹ ɭɪɨɜɧɹɦɢ ɩɪɨɰɟɧɬɧɵɯ
ɫɬɚɜɨɤ ɢ ɩɨɫɬɨɹɧɧɵɦ ɢɡɦɟɧɟɧɢɟɦ ɤɭɪɫɨɜ ɜɚɥɸɬ.
‡ ɉɪɢɨɛɪɟɬɟɧɢɟ ɩɚɤɟɬɚ ɭɫɥɭɝ ɫɨ ɫɛɚɥɚɧɫɢɪɨɜɚɧɧɵɦ ɫɨɨɬɧɨɲɟɧɢɟɦ ɪɢɫɤɨɜ ɢɫɩɨɥɶɡɭɟɦɵɯ
ɫɪɟɞɫɬɜ ɢ ɩɨɥɭɱɚɟɦɵɯ ɞɨɯɨɞɨɜ. Ⱦɥɹ ɧɚɫ ɷɮɮɟɤɬɢɜɧɨɫɬɶ ɢɧɜɟɫɬɢɰɢɣ ± ɷɬɨ ɧɟ ɩɪɨɫɬɨ ɫɥɨɜɚ.
‡ ɉɪɨɮɟɫɫɢɨɧɚɥɶɧɚɹ ɨɩɟɪɚɬɢɜɧɚɹ ɢ ɤɨɧɮɢɞɟɧɰɢɚɥɶɧɚɹ ɪɟɚɥɢɡɚɰɢɹ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɪɟɲɟɧɢɣ
ɛɥɚɝɨɞɚɪɹ ɛɥɢɡɨɫɬɢ ɤ ɜɟɞɭɳɢɦ ɮɢɧɚɧɫɨɜɵɦ
ɩɥɨɳɚɞɤɚɦ ɦɢɪɚ.
‡ ȿɠɟɝɨɞɧɨɟ ɜɨɡɧɚɝɪɚɠɞɟɧɢɟ ɡɚ ɭɫɥɭɝɢ ɩɨ ɭɩɪɚɜɥɟɧɢɸ ɪɚɫɫɱɢɬɚɧɧɨɟ ɧɚ ɨɫɧɨɜɚɧɢɢ ɨɛɴɟɦɚ
ɞɟɛɟɬɭɟɬɫɹ ɫ ȼɚɲɟɝɨ ɤɨɧɬɨɤɨɪɪɟɧɬɧɨɝɨ ɫɱɟɬɚ.
Ɋɚɡ ɜ ɩɨɥɝɨɞɚ ȼɵ ɩɨɥɭɱɚɟɬɟ ɨɬɱɟɬ ɨ ɫɨɫɬɨɹɧɢɢ
ɢɦɭɳɟɫɬɜɚ ɫ ɭɤɚɡɚɧɢɟɦ ɷɮɮɟɤɬɢɜɧɨɫɬɢ ɢɧɜɟɫɬɢɰɢɣ ɤɪɨɦɟ ɬɨɝɨ ȼɵ ɦɨɠɟɬɟ ɪɟɝɭɥɹɪɧɨ ɩɨɥɭɱɚɬɶ
ɩɨɜɬɨɪɧɵɟ ɩɪɟɞɦɟɬɧɵɟ ɤɨɧɫɭɥɶɬɚɰɢɢ ɧɚɲɢɯ
ɩɨɪɬɮɟɥɶɧɵɯ ɦɟɧɟɞɠɟɪɨɜ ɢ ȼɚɲɟɝɨ ɥɢɱɧɨɝɨ
ɤɨɧɫɭɥɶɬɚɧɬɚ.
3
Page 1 of 3
SPECIMEN
Impulse Trust
30000
Safe-keeping deposit account: ______________________Account No.______________________________
Administration Mandate
Valartis Bank (Liechtenstein) AG (hereinafter to be
referred to as the Bank) is hereby authorised to
manage the securities safe-keeping deposit accounts and/or accounts listed under the above
portfolio number in accordance with the following
directives.
Reference currency
The reference currency applies to the currency in
which the investor keeps his accounts and which is
used to measure performance. However, this does
not rule out investments in other currencies.
CHF
EURO
The use of collective investments such as investment funds and/or internal assets has proved to be
a bene¿cial strategy in asset management, particularly in terms of risk considerations.
For this reason, depending on the size of the mandate and the market conditions, we manage the
assets entrusted to us by making individual investments and/or on the basis of internal assets and/or
funds.
Depending on the chosen type of portfolio structure, assets are managed based on individual investments, funds and/or internal assets.
USD
Administration directives
The assets are managed in accordance with the
Bank’s investment policy. As each portfolio structure corresponds to a separate risk/return combination, the investor is only able to choose one particular type of structure.
Fees
For carrying out the administration mandate, the
Bank charges an annual administration fee, which
is charged at the respective valid rate. The Bank
reserves the right to change this rate at any time.
The client is to be noti¿ed of such changes in writing or by any other appropriate means of communication.
Bond strategy
Money market investments, bonds, etc. (nominal
values). The majority of the investments are made
in the reference currency.
Bond-/Share strategy
Money Market Investments, Bonds, Equities.
Equities investments are mainly made into mutual
funds and stocks of large companies.
Income
Balanced
Growth
(15 % – 25 % shares)
(30 % – 50 % shares)
(50 % – 70 % shares)
Share strategy
Emphasis on shares, primarily equity funds, internationally oriented.
Special arrangements:
Ethical, ecological investments
Portfolio valuation
The Bank employs the following valuation criteria to
value the ¿nancial instruments held in the client
portfolio:
-
Investment funds are always valued at the unit
prices published by the respective fund company;
-
As a rule, listed securities are determined according to the prices at the main market in these
securities;
If no e[change price is set for a given ¿nancial
instrument, the Bank will determine the market
value by applying general valuation measures. The
valuations of the ¿nancial instruments in the client
portfolio are undertaken at the latest as of the applicable reporting dates.
The Bank has the right to consolidate orders by
different clients and to forward them for execution
as a collective order. If this collective order is executed at different prices, the Bank will carry out the
distribution among the individual client safe deposits at average values.
18E-0210
Valartis Bank (Liechtenstein) AG
4
Client reporting
As a rule, the Bank will transmit a periodic statement of the portfolio management services to the
client every half year. This period may, upon the
express wish of the client, be reduced to three
months. In the case of a ¿nancial portfolio ¿nanced
by credit, the Bank will report monthly.
If the Bank uses a comparative benchmark in the
reports mentioned above, this shall only be for
informative purposes. Illustrations and comparisons
with a benchmark do not contain any statement on
the probability of reaching such a benchmark and
do not give rise to any legal liability, assurance, or
guarantee. The Bank reserves the right to change
the benchmark at any time, if appropriate in accordance with the investment strategy of the client and
the investment guidelines agreed with the client.
If the client requests individual transaction statements, the Bank reserves the right to extend the
reporting requirement to once every calendar year.
Benchmark
To illustrate the performance of the bank with respect to portfolio management in a transparent
manner, the Bank uses a benchmark as a calculation method. The benchmark differs depending on
the client portfolio in question and is determined in
accordance with the investment goal and strategy.
The benchmark is published on the Bank’s website
(www.valartis.li).
Inducements
The client notes and accepts that the Bank may be
granted inducements in the form of portfolio payments and acquisition commissions (e.g. from issue and redemption commissions) by third parties
(including group companies) in connection with the
buying/distribution of collective capital investments,
certi¿cates, notes, etc. (hereinafter ³products´;
these include products managed and/or issued by
a group company). The amount of such inducements depends on the product and the product
provider. As a rule, portfolio payments are calculated on the basis of the amount of the volume of a
product or product group held by the Bank.
Their amount usually corresponds to a percentage
share of the administrative fees charged on the
product and is paid periodically over the course of
the term. In addition, distribution commissions by
securities issuers may be granted in the form of
deductions from the issue price (percentage rebate) or in the form of one-time payments, the
amount of which corresponds to a percentage
share of the issue price. Acquisition commissions
are one-time payments. Their amount corresponds
to a percentage share of the issue and/or redemption price in question.
The client may, at any time prior to signing this
mandate or assumption of management activities
by the Bank as well as at any time after signing this
mandate or assumption of management activities
by the Bank, demand additional details on the
agreements concluded with third parties with respect to such inducements. The right to obtain
information with respect to further details prior to
signing this mandate or assumption of management activities by the Bank is limited to the 12
months preceding the query. The client expressly
waives any further claims to information. If the
client does not demand additional details prior to
signing this mandate or assumption of management activities by the Bank, or if the client signs this
Agreement after obtaining additional details, the
client expressly waives any surrender claims pursuant to § 1009a of the General Civil Code
(ABGB).
Other provisions
The Bank reserves the right to carry out legal acts
and make investments for the account and at the
risk of the client if the Bank considers this to be
useful or necessary for the purpose of managing
securities safe-keeping deposit accounts and/or
accounts in the context of the aforementioned directives.
By virtue of this mandate, the Bank is entitled to
buy or sell forward or make cash purchases or
sales of any kind of securities, precious metals,
currencies and other investment instruments, in
particular internal assets.
18E-0210
Valartis Bank (Liechtenstein) AG
5
Page 3 of 3
While the Bank may operate at its own discretion, it
must comply with the aforementioned administration directives. Furthermore, the Bank is entitled to
execute any type of covered transaction (purchase
and sale) in the options and futures market (derivatives) as well as to make investments in any country and in any currency in its own name on a fiduciary basis at the risk and expense of the client. In
particular, the Bank is entitled to conduct all business permitted by the prevailing directives for asset
management mandates, in accordance with Liechtenstein Banking Act and Banking Executive Order.
This list is not conclusive; other forms of investment
may be added at a later date.
Due to market conditions, the investment policy is
set periodically and is available for consultation at
the Bank at any time. The Bank is authorised, but
not obliged to exercise any partnership or joint
ownership rights, etc., arising from investments.
01.09.2013
Date
The client hereby releases the Bank and its employees from all liability that might result from any
acts or forbearances, in particular regarding the
choice of investments.
This mandate does not expire upon the client’s
death, presumed death, incapacity to act or bankruptcy. However, either party may terminate the
mandate at any time and with immediate effect, in
writing, in compliance with the time period required
for the sale of securities.
Should parts of the administration mandate be or
become invalid, disputable or ineffective, this does
not affect the validity of the rest of the contract.
Unless otherwise stipulated in the aforementioned
conditions and in so far as no other regulation has
been put into effect, the “General Conditions” apply.
Impulse Trust
Signature
18E-0210
Valartis Bank (Liechtenstein) AG
.. ɉɪɨɮɟɫɫɢɨɧɚɥɶɧɚɹ ɦɟɬɨɞɢɤɚ ɨɛɟɫɩɟɱɢɜɚɟɬ
ɨɩɬɢɦɚɥɶɧɨɟ ɪɚɡɜɢɬɢɟ ɢɦɭɳɟɫɬɜɚ
ɇɚɲɢ ɩɪɢɧɰɢɩɵ ɨɫɭɳɟɫɬɜɥɟɧɢɹ ɢɧɜɟɫɬɢɰɢɣ
ɛɚɡɢɪɭɸɬɫɹ ɧɚ ɫɢɫɬɟɦɚɬɢɡɢɪɨɜɚɧɧɵɯ ɢ ɤɨɦɛɢɧɢɪɨɜɚɧɧɵɯ ɫɬɪɚɬɟɝɢɹɯ Top-Down/Bottom-Up
ɜ ɪɚɦɤɚɯ ɚɧɚɥɢɡɚ ɪɵɧɤɨɜ ɢ ɰɟɧɧɵɯ
ɛɭɦɚɝ. ɇɚ ɨɫɧɨɜɚɧɢɢ ɢɫɫɥɟɞɨɜɚɧɢɣ ɢ ɨɰɟɧɤɢ
ɦɟɠɞɭɧɚɪɨɞɧɨɝɨ ɷɤɨɧɨɦɢɱɟɫɤɨɝɨ ɢ ɩɨɥɢɬɢɤɨ-ɷɤɨɧɨɦɢɱɟɫɤɨɝɨ ɤɨɧɬɟɤɫɬɚ, ɚ
ɬɚɤɠɟ ɬɳɚɬɟɥɶɧɨɝɨ ɚɧɚɥɢɡɚ ɩɪɟɞɩɪɢɹɬɢɣ ɢ
ɰɟɧɧɵɯ ɛɭɦɚɝ ɩɪɨɜɨɞɢɬɫɹ ɬɟɤɭɳɚɹ ɩɪɨɜɟɪɤɚ
ɢɧɜɟɫɬɢɰɢɣ ɢ ɢɯ ɨɬɧɨɫɢɬɟɥɶɧɨɣ ɫɬɨɢɦɨɫɬɢ ɜ
ɝɪɚɧɢɰɚɯ ɩɪɟɞɜɚɪɢɬɟɥɶɧɨ ɡɚɞɚɧɧɵɯ ɩɪɟɞɟɥɨɜ
ɤɨɥɟɛɚɧɢɣ. ɉɨɫɥɟɞɧɢɟ, ɩɪɢ ɧɟɨɛɯɨɞɢɦɨɫɬɢ,
ɩɪɢɜɨɞɹɬɫɹ ɜ ɫɨɨɬɜɟɬɫɬɜɢɟ ɫ ɢɡɧɚɱɚɥɶɧɨ
ɫɮɨɪɦɭɥɢɪɨɜɚɧɧɵɦɢ ɤɨɥɢɱɟɫɬɜɟɧɧɵɦɢ ɢ ɤɚɱɟɫɬɜɟɧɧɵɦɢ ɤɪɢɬɟɪɢɹɦɢ ɨɬɛɨɪɚ. Ɉɫɧɨɜɧɵɟ
ɩɭɧɤɬɵ ɢɧɜɟɫɬɢɰɢɨɧɧɨɣ ɫɬɪɚɬɟɝɢɢ ɟɠɟɦɟɫɹɱɧɨ
ɩɭɛɥɢɤɭɸɬɫɹ ɧɚɦɢ ɜ ɛɪɨɲɸɪɟ “ɍɫɥɭɝɢ ɩɨ ɜɥɨɠɟɧɢɸ ɤɚɩɢɬɚɥɚ”, ɫ ɷɥɟɤɬɪɨɧɧɨɣ
ɮɨɪɦɨɣ ɤɨɬɨɪɨɣ ȼɵ ɜɫɟɝɞɚ ɦɨɠɟɬɟ ɨɡɧɚɤɨɦɢɬɶɫɹ ɧɚ ɧɚɲɟɦ ɫɚɣɬɟ. Ɇɵ ɬɚɤɠɟ ɜɵɲɥɟɦ ɷɬɭ
ɛɪɨɲɸɪɭ ȼɚɦ ɜ ɛɭɦɚɠɧɨɣ ɮɨɪɦɟ ɩɨ ȼɚɲɟɦɭ
ɡɚɩɪɨɫɭ.
ȼɚɲ ɥɢɱɧɵɣ ɤɨɧɫɭɥɶɬɚɧɬ ɪɟɝɭɥɹɪɧɨ ɨɛɫɭɠɞɚɟɬ ɫ ȼɚɦɢ ɫɬɪɭɤɬɭɪɭ ȼɚɲɟɝɨ ɩɨɪɬɮɟɥɹ ɢ ɬɟɦ
ɫɚɦɵɦ ɝɚɪɚɧɬɢɪɭɟɬ ȼɚɦ ɟɝɨ ɧɚɞɥɟɠɚɳɭɸ ɝɢɛɤɨɫɬɶ. ɉɪɢ ɷɬɨɦ ɨɧ ɩɨɫɬɨɹɧɧɨ ɫɥɟɞɢɬ ɡɚ ɬɟɦ,
ɱɬɨɛɵ ɜɵɛɪɚɧɧɚɹ ɢɧɜɟɫɬɢɰɢɨɧɧɚɹ ɫɬɪɚɬɟɝɢɹ
ɜɫɟɝɞɚ ɫɨɨɬɜɟɬɫɬɜɨɜɚɥɚ ȼɚɲɢɦ ɬɪɟɛɨɜɚɧɢɹɦ.
ɋɨɜɪɟɦɟɧɧɚɹ ɫɢɫɬɟɦɚ ɨɪɝɚɧɢɡɚɰɢɢ ɨɬɱɟɬɧɨɫɬɢ ɩɨ ɩɪɢɧɹɬɵɦ ɢɧɜɟɫɬɢɰɢɨɧɧɵɦ ɪɟɲɟɧɢɹɦ
ɢ ɞɨɫɬɢɝɧɭɬɵɦ ɩɨɤɚɡɚɬɟɥɹɦ ɝɚɪɚɧɬɢɪɭɸɬ ȼɚɦ
ɩɪɨɡɪɚɱɧɨɫɬɶ ɨɬɨɛɪɚɠɟɧɢɹ ɞɢɧɚɦɢɤɢ ɪɚɡɜɢɬɢɹ
ȼɚɲɟɝɨ ɢɦɭɳɟɫɬɜɚ.
Ⱦɢɧɚɦɢɤɚ ɫɬɨɢɦɨɫɬɢ ȼɚɲɟɝɨ ɩɨɪɬɮɟɥɹ ɡɚɜɢɫɢɬ ɨɬ ɰɟɥɨɝɨ ɪɹɞɚ ɮɚɤɬɨɪɨɜ: ȼɚɲɢɯ ɥɢɱɧɵɯ
ɰɟɥɟɣ ɢ ɩɪɟɞɩɨɱɬɟɧɢɣ, ɪɚɡɜɢɬɢɹ ɮɢɧɚɧɫɨɜɵɯ
ɪɵɧɤɨɜ ɢ ɪɟɡɭɥɶɬɚɬɨɜ ɪɚɛɨɬɵ ȼɚɲɟɝɨ ɥɢɱɧɨɝɨ
ɤɨɧɫɭɥɶɬɚɧɬɚ ɢ ɩɨɪɬɮɟɥɶɧɵɯ ɦɟɧɟɞɠɟɪɨɜ.
Ɍɨɥɶɤɨ ɤɨɧɬɪɨɥɢɪɭɟɦɨɟ ɢ ɫɨɝɥɚɫɨɜɚɧɧɨɟ
ɜɡɚɢɦɨɞɟɣɫɬɜɢɟ ɷɬɢɯ ɜɧɭɬɪɟɧɧɢɯ ɢ ɜɧɟɲɧɢɯ
ɮɚɤɬɨɪɨɜ ɩɨɡɜɨɥɢɬ ȼɚɦ ɞɨɫɬɢɱɶ ɜɵɫɨɤɢɯ
ɪɟɡɭɥɶɬɚɬɨɜ.
ɇɚɲɢ ɨɩɵɬɧɵɟ ɩɨɪɬɮɟɥɶɧɵɟ ɦɟɧɟɞɠɟɪɵ ɧɟɩɪɟɪɵɜɧɨ ɢ ɫ ɨɫɨɛɵɦ ɜɧɢɦɚɧɢɟɦ ɤ ȼɚɲɢɦ
ɡɚɩɪɨɫɚɦ ɨɬɫɥɟɠɢɜɚɸɬ ɞɢɧɚɦɢɤɭ ɪɚɡɜɢɬɢɹ
ȼɚɲɟɝɨ ɢɦɭɳɟɫɬɜɚ ɢ ɚɤɬɢɜɧɨ ɜɨɩɥɨɳɚɸɬ ɜ
ɠɢɡɧɶ ɩɨɥɢɬɢɤɭ ɢɧɜɟɫɬɢɰɢɣ, ɪɚɡɪɚɛɨɬɚɧɧɭɸ
ɧɚ ɨɫɧɨɜɟ ȼɚɲɟɣ ɫɨɛɫɬɜɟɧɧɨɣ ɢɧɜɟɫɬɢɰɢɨɧɧɨɣ ɫɬɪɚɬɟɝɢɢ.
Ʉɥɢɟɧɬ
Ɏɢɧɚɧɫɨɜɵɟ ɪɵɧɤɢ
Ɍɨɥɟɪɚɧɬɧɨɫɬɶ ɤ ɪɢɫɤɭ/ɨɠɢɞɚɟɦɚɹ ɞɨɯɨɞɧɨɫɬɶ,
ɢɧɜɟɫɬɢɰɢɨɧɧɵɣ ɩɟɪɢɨɞ, ɛɚɡɢɫɧɚɹ ɜɚɥɸɬɚ ɢ
ɧɚɥɨɝɨɜɵɟ ɚɫɩɟɤɬɵ
Ⱦɢɧɚɦɢɤɚ ɪɵɧɤɨɜ ɚɤɰɢɣ, ɨɛɥɢɝɚɰɢɣ,
ɩɪɨɰɟɧɬɧɵɯ ɫɬɚɜɨɤ ɢ ɜɚɥɸɬ
ɋɬɪɚɬɟɝɢɱɟɫɤɨɟ ɪɚɡɦɟɳɟɧɢɟ ɚɤɬɢɜɨɜ
Ⱦɨɥɝɨɫɪɨɱɧɚɹ ɫɬɪɭɤɬɭɪɚ ɢɦɭɳɟɫɬɜɚ, ɨɩɬɢɦɚɥɶɧɵɟ ɩɪɨɮɢɥɢ ɞɨɯɨɞɧɨɫɬɢ ɢ ɪɢɫɤɨɜ
Ɍɚɤɬɢɱɟɫɤɨɟ ɪɚɡɦɟɳɟɧɢɟ ɚɤɬɢɜɨɜ
ɋɬɪɚɬɟɝɢɹ ɜɵɛɨɪɚ ɜɪɟɦɟɧɢ ɞɥɹ ɨɩɟɪɚɰɢɣ ɧɚ ɪɵɧɤɟ ɜ ɰɟɥɹɯ ɨɩɬɢɦɢɡɚɰɢɢ ɩɨɥɭɱɟɧɢɹ ɞɨɯɨɞɚ
Ɉɬɛɨɪ ɰɟɧɧɵɯ ɛɭɦɚɝ ɢ ɤɨɧɬɪɨɥɶ ɤɚɱɟɫɬɜɚ
Ɉɪɢɟɧɬɢɪɨɜɚɧɧɚɹ ɧɚ ɷɮɮɟɤɬɢɜɧɨɫɬɶ ɪɚɛɨɬɚ ɢ ɚɧɚɥɢɡ ɷɮɮɟɤɬɢɜɧɨɫɬɢ
Ɉɬɱɟɬɧɨɫɬɶ
ɋɬɪɭɤɬɭɪɚ ɩɨɪɬɮɟɥɹ, ɞɢɧɚɦɢɤɚ ɫɬɨɢɦɨɫɬɢ
Valartis Bank (Liechtenstein) AG
7
.. ɇɚɲɢ ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ ɫɬɪɚɬɟɝɢɢ ɧɚ
ɫɥɭɠɛɟ ȼɚɲɢɯ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɢɧɬɟɪɟɫɨɜ
ɋ ɩɨɦɨɳɶɸ ɫɨɨɬɜɟɬɫɬɜɭɸɳɢɯ ɦɨɞɟɥɟɣ ɦɵ
ɩɪɨɝɧɨɡɢɪɭɟɦ ɞɢɧɚɦɢɤɭ ɪɨɫɬɚ ɦɟɠɞɭɧɚɪɨɞɧɵɯ
ɪɵɧɤɨɜ ɚɤɰɢɣ, ɩɪɨɰɟɧɬɨɜ ɢ ɜɚɥɸɬ. Ɇɵ ɡɚɪɚɧɟɟ
ɫɮɨɪɦɭɥɢɪɨɜɚɥɢ ɞɥɹ ȼɚɫ ɩɹɬɶ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɰɟɥɟɣ ɪɚɡɥɢɱɧɨɣ ɧɚɩɪɚɜɥɟɧɧɨɫɬɢ, ɤɨɬɨɪɵɟ ɫ ɩɟɪɜɨɝɨ ɞɧɹ ɩɨɫɥɭɠɚɬ ȼɚɦ ɧɚɞɟɠɧɵɦ
ɮɭɧɞɚɦɟɧɬɨɦ ɞɥɹ ɩɪɢɧɹɬɢɹ ɪɟɲɟɧɢɣ.
ɂɧɜɟɫɬɢɰɢɨɧɧɵɟ ɫɬɪɚɬɟɝɢɢ ɭɱɢɬɵɜɚɸɬ ɬɚɤɢɟ
ɮɚɤɬɨɪɵ, ɤɚɤ ɛɟɡɨɩɚɫɧɨɫɬɶ ɢ ɪɢɫɤ, ɞɨɯɨɞɧɨɫɬɶ
ɢ ɩɟɪɫɩɟɤɬɢɜɵ ɪɨɫɬɚ, ɚ ɬɚɤɠɟ ɥɢɤɜɢɞɧɨɫɬɶ ɢ
ɝɢɛɤɨɫɬɶ. ȼ ɪɚɦɤɚɯ ɤɚɠɞɨɣ ɢɧɜɟɫɬɢɰɢɨɧɧɨɣ
ɰɟɥɢ ɱɟɬɤɨ ɨɩɪɟɞɟɥɟɧɵ ɫɨɨɬɧɨɲɟɧɢɹ ɞɨɥɟɣ
ɢɦɭɳɟɫɬɜɚ ɜ ɥɢɤɜɢɞɧɨɣ ɮɨɪɦɟ, ɨɛɥɢɝɚɰɢɹɯ
ɢ ɚɤɰɢɹɯ. ɋ ɭɜɟɥɢɱɟɧɢɟɦ ɞɨɥɢ ɛɭɦɚɝ ɩɚɟɜɨɝɨ
ɭɱɚɫɬɢɹ ɜɨɡɪɚɫɬɚɸɬ ɤɚɤ ȼɚɲɢ ɪɢɫɤɢ, ɬɚɤ ɢ ɩɟɪɫɩɟɤɬɢɜɵ ɞɨɯɨɞɧɨɫɬɢ.
ɉɟɪɟɞ ȼɚɦɢ ɩɹɬɶ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɫɬɪɚɬɟɝɢɣ
ȼɵ ɦɨɠɟɬɟ ɜɵɛɢɪɚɬɶ ɦɟɠɞɭ ɩɹɬɶɸ ɨɫɧɨɜɧɵɦɢ
ɢɧɜɟɫɬɢɰɢɨɧɧɵɦɢ ɫɬɪɚɬɟɝɢɹɦɢ ɜ ɛɚɡɢɫɧɵɯ
ɜɚɥɸɬɚɯ CHF, EUR, ɚ ɬɚɤɠɟ USD. ɋɬɪɭɤɬɭɪɚ
ɢɦɭɳɟɫɬɜɚ ɜɚɪɶɢɪɭɟɬɫɹ ɜ ɡɚɜɢɫɢɦɨɫɬɢ ɨɬ
ȼɚɲɟɣ ɝɨɬɨɜɧɨɫɬɢ ɢɞɬɢ ɧɚ ɪɢɫɤ ɢ ȼɚɲɢɯ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɰɟɥɟɣ.
ɉɨɫɬɚɧɨɜɤɚ
ɰɟɥɢ
ɂɧɜɟɫɬɢɰɢɨɧɧɚɹ
ɫɬɪɚɬɟɝɢɹ
Ɉɩɢɫɚɧɢɟ
ɋɨɨɬɧɨɲɟɧɢɟ
ɞɨɥɟɣ
ɋɬɟɩɟɧɶ
ɪɢɫɤɚ
ɍɪɨɜɟɧɶ
ɢɧɜɟɫɬɢɰɢɣ
Ɉɠɢɞɚɟɦɵɣ
ɞɨɯɨɞ ɜ ɝɨɞ
Ɍɜɟɪɞɵɣ
ɩɪɨɰɟɧɬɧɵɣ
ɞɨɯɨɞ
ɉɪɨɰɟɧɬɧɵɣ
ɞɨɯɨɞ
ɂɫɤɥɸɱɢɬɟɥɶɧɨ
ɨɛɥɢɝɚɰɢɢ
Ʌɢɤɜɢɞɧɵɟ
ɜɥɨɠɟɧɢɹ: 0-20%
Ɉɛɥɢɝɚɰɢɢ: 80-100%
Ⱥɤɰɢɢ: 0%
Ɇɢɧɢɦɚɥɶɧɵɣ ɪɢɫɤ
Ɇɢɧ. 3 ɝɨɞɚ
3 % ɜ ɝɨɞ
ɋɨɯɪɚɧɟɧɢɟ
ɫɬɨɢɦɨɫɬɢ ɩɪɢ
ɩɨɫɬɨɹɧɧɨɦ
ɞɨɯɨɞɟ
ɉɨɫɬɨɹɧɧɵɣ
ɞɨɯɨɞ
Ⱥɤɰɟɧɬ ɧɚ ɨɛɥɢɝɚɰɢɢ ɧɟɡɧɚɱɢɬɟɥɶɧɚɹ ɞɨɥɹ ɚɤɰɢɣ
Ʌɢɤɜɢɞɧɵɟ
ɜɥɨɠɟɧɢɹ: -
Ɉɛɥɢɝɚɰɢɢ: -
Ⱥɤɰɢɢ: -
ɇɟɛɨɥɶɲɨɣ
ɪɢɫɤ
Ɇɢɧ. ɥɟɬ
ɜ ɝɨɞ
ɋɦ. ɉɪɢɦɟɪ: Impulse 7rust ɜ ɤɚɱɟɫɬɜɟ ɜɥɚɞɟɥɶɰɚ ɫɱɟɬɚ ɜ 9alartis Bank /iechtenstein A* ± ɫɬɪ. Ɍɟɤɭɳɢɟ ɞɨɯɨɞɵ ɜ
ɜɢɞɟ ɩɪɨɰɟɧɬɨɜ, ɚ
ɬɚɤɠɟ ɩɪɢɛɵɥɶ ɧɚ
ɜɥɨɠɟɧɧɵɣ ɤɚɩɢɬɚɥ
ɋɛɚɥɚɧɫɢɪɨɜɚɧɧɵɣ
ɫɨɫɬɚɜ ɩɨɪɬɮɟɥɹ
(ɨɛɥɢɝɚɰɢɢ, ɚɤɰɢɢ)
Ʌɢɤɜɢɞɧɵɟ
ɜɥɨɠɟɧɢɹ: 0-20%
Ɉɛɥɢɝɚɰɢɢ: 40-0%
Ⱥɤɰɢɢ: 30-50%
ɋɪɟɞɧɢɣ
ɪɢɫɤ
Ɇɢɧ. ɥɟɬ
5 % ɜ ɝɨɞ
ɉɨɥɭɱɟɧɢɟ ɛɨɥɟɟ ɜɵɫɨɤɨɝɨ ɞɨɯɨɞɚ, ɜ ɨɫɧɨɜɊɨɫɬ
ɧɨɦ ɡɚ ɫɱɟɬ ɩɪɢɛɵɥɢ
ɧɚ ɜɥɨɠɟɧɧɵɣ ɤɚɩɢɬɚɥ
Ⱥɤɰɟɧɬ ɧɚ ɚɤɰɢɢ,
ɧɟɡɧɚɱɢɬɟɥɶɧɚɹ ɞɨɥɹ
ɨɛɥɢɝɚɰɢɣ
Ʌɢɤɜɢɞɧɵɟ
ɜɥɨɠɟɧɢɹ: 0-20%
Ɉɛɥɢɝɚɰɢɢ: 20-40%
Ⱥɤɰɢɢ: 50-70%
Ɋɢɫɤ ɜɵɲɟ
ɫɪɟɞɧɟɝɨ
Ɇɢɧ. 8 ɥɟɬ
% ɜ ɝɨɞ
Ⱦɨɥɝɨɫɪɨɱɧɵɣ ɜɵɫɨɤɢɣ ɞɨɯɨɞ ɡɚ ɫɱɟɬ
ɩɪɢɛɵɥɢ ɧɚ ɜɥɨɠɟɧɧɵɣ ɤɚɩɢɬɚɥ
Ⱥɤɰɟɧɬ ɧɚ ɚɤɰɢɢ, ɛɟɡ
ɨɛɥɢɝɚɰɢɣ
Ʌɢɤɜɢɞɧɵɟ
ɜɥɨɠɟɧɢɹ: 0-20%
Ɉɛɥɢɝɚɰɢɢ: 0%
Ⱥɤɰɢɢ: 80-100%
ȼɵɫɨɤɢɣ
ɪɢɫɤ
Ɇɢɧ. 10 ɥɟɬ
7 % ɜ ɝɨɞ
ɋɛɚɥɚɧɫɢɪɨɜɚɧɧɚɹ
ɉɪɢɛɵɥɶ ɧɚ
ɜɥɨɠɟɧɧɵɣ
ɤɚɩɢɬɚɥ
Valartis Bank (Liechtenstein) AG
8
доходность
ɋ ɪɨɫɬɨɦ ɨɠɢɞɚɧɢɣ ɞɨɯɨɞɧɨɫɬɢ ɜɨɡɪɚɫɬɚɸɬ
ɢ ɩɨɬɟɧɰɢɚɥɶɧɵɟ ɪɢɫɤɢ. ɋɥɨɠɧɨɫɬɶ ɡɚɞɚɱɢ
ɩɪɢ ɭɩɪɚɜɥɟɧɢɢ ɢɧɜɟɫɬɢɰɢɨɧɧɵɦ ɩɨɪɬɮɟɥɟɦ
ɫɨɫɬɨɢɬ ɜ ɞɨɫɬɢɠɟɧɢɢ ɦɚɤɫɢɦɚɥɶɧɨɣ
ɞɨɯɨɞɧɨɫɬɢ ɩɪɢ ɤɨɧɬɪɨɥɢɪɭɟɦɨɦ ɪɢɫɤɟ.
прибыль на вложенный
капитал (0/100)
рост (40/60)
сбалансированность (60/40)
постоянный доход (80/20)
доход в виде процентов (100/0)
ликвидность
(разбивка на облигации/акции)
риск
ɇɚɲɢ ɫɩɟɰɢɚɥɶɧɵɟ ɫɬɪɚɬɟɝɢɢ
ɇɚ ɨɫɧɨɜɟ ɧɚɲɢɯ ɨɫɧɨɜɧɵɯ ɫɬɪɚɬɟɝɢɣ ɦɵ
ɩɪɟɞɥɚɝɚɟɦ ɫɬɪɚɬɟɝɢɢ, ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ
ɪɟɲɟɧɢɹ ɤɨɬɨɪɵɯ ɫɬɪɨɹɬɫɹ ɧɚ ɷɬɢɱɟɫɤɢɷɤɨɥɨɝɢɱɟɫɤɢɯ ɩɪɢɧɰɢɩɚɯ. Ɍɨ ɟɫɬɶ, ɧɚɩɪɢɦɟɪ,
ɜ ɩɪɟɞɩɪɢɹɬɢɹ ɜɨɟɧɧɨɣ ɢɥɢ ɬɚɛɚɱɧɨɣ
ɩɪɨɦɵɲɥɟɧɧɨɫɬɢ ɫɪɟɞɫɬɜɚ ɢɧɜɟɫɬɢɪɨɜɚɬɶɫɹ
ɧɟ ɛɭɞɭɬ. ɉɨɦɢɦɨ ɫɬɪɚɬɟɝɢɣ ɫ ɷɬɢɱɟɫɤɢɷɤɨɥɨɝɢɱɟɫɤɢɦɢ ɩɨɞɯɨɞɚɦɢ, ɦɵ ɩɪɟɞɥɚɝɚɟɦ
ɟɳɟ ɨɞɧɭ ɫɬɪɚɬɟɝɢɸ ©ɋɩɭɬɧɢɤª. ɗɬɚ
ɫɬɪɚɬɟɝɢɹ ɩɪɟɞɭɫɦɚɬɪɢɜɚɟɬɫɹ ɢɫɤɥɸɱɢɬɟɥɶɧɨ
ɐɟɥɟɜɚɹ
ɭɫɬɚɧɨɜɤɚ
ɋɨɯɪɚɧɟɧɢɟ
ɫɬɨɢɦɨɫɬɢ ɩɪɢ
ɩɨɫɬɨɹɧɧɨɦ ɞɨɯɨɞɟ
ɫ ɭɱɟɬɨɦ ɷɬɢɱɟɫɤɢɷɤɨɥɨɝɢɱɟɫɤɢɯ
ɩɪɢɧɰɢɩɨɜ
Ⱦɨɫɬɢɠɟɧɢɟ ɛɨɥɟɟ
ɜɵɫɨɤɨɝɨ ɞɨɯɨɞɚ,
ɩɪɟɢɦɭɳɟɫɬɜɟɧɧɨ
ɢɡ ɩɪɢɛɵɥɢ ɧɚ
ɜɥɨɠɟɧɧɵɣ ɤɚɩɢɬɚɥ
ɂɧɜɟɫɬɢɰ
ɢɨɧɧɚɹ
ɫɬɪɚɬɟɝɢɹ
Ɉɩɢɫɚɧɢɟ
ɫɨɝɥɚɫɧɨ
ɷɬɢɱɟɫɤɚɹ / ɫɨɨɬɜɟɬɫɬɜɭ
ɸɳɟɣ
ɷɤɨɥɨɝɢɨɫɧɨɜɧɨɣ
ɱɟɫɤɚɹ
ɫɬɪɚɬɟɝɢɢ
ɋɩɭɬɧɢɤ
ɩɪɟɢɦɭɳɟɫ
ɬɜɟɧɧɨ ɚɤɰɢɢ ɢ
ɚɥɶɬɟɪɧɚɬɢɜɧɵɟ
ɢɧɜɟɫɬɢɰɢɢ,
ɦɚɥɚɹ ɱɚɫɬɶ
ɨɛɥɢɝɚɰɢɣ
ɜ ɪɚɫɱɟɬɧɨɣ ɜɚɥɸɬɟ ȿȼɊɈ ɢ ɞɟɣɫɬɜɭɟɬ, ɜ
ɨɬɥɢɱɢɟ ɨɬ ɧɚɲɢɯ ɨɫɧɨɜɧɵɯ ɫɬɪɚɬɟɝɢɣ, ɬɚɤɠɟ
ɞɥɹ ɜɥɨɠɟɧɢɣ ɜ ɫɵɪɶɟ ɢ ɧɟɞɜɢɠɢɦɨɫɬɶ.
Ʉɪɨɦɟ ɬɨɝɨ, ɛɨɥɶɲɚɹ ɱɚɫɬɶ ɚɤɰɢɣ ɢ ɨɛɥɢɝɚɰɢɣ
ɢɧɜɟɫɬɢɪɭɟɬɫɹ ɜ ɪɚɡɜɢɜɚɸɳɢɟɫɹ ɪɵɧɤɢ.
ɇɚ ɮɨɧɟ ɞɨɥɝɨɫɪɨɱɧɵɯ ɪɚɡɦɵɲɥɟɧɢɣ ɨ
Ɋɢɫɤɟ-Ⱦɨɯɨɞɧɨɫɬɢ ɫɬɪɚɬɟɝɢɹ ©ɋɩɭɬɧɢɤª
ɩɪɟɞɫɬɚɜɥɹɟɬɫɹ ɪɚɰɢɨɧɚɥɶɧɨɣ ɩɪɢɦɟɫɶɸ ɤ
ɤɚɠɞɨɣ ɨɫɧɨɜɧɨɣ ɫɬɪɚɬɟɝɢɢ.
ɉɪɟɞɟɥɵ
ɤɨɥɟɛɚɧɢɹ
ɉɪɨɮɢɥɶ
ɪɢɫɤɚ
ɂɧɜɟɫɬɢɰɢɨ
ɧɧɵɣ ɝɨɪɢɡɨɧɬ
Ɉɠɢɞɚɟɦɚɹ
ɞɨɯɨɞɧɨɫɬɶ
ɜ ɝɨɞ
ɫɨɝɥɚɫɧɨ
ɫɨɨɬɜɟɬɫɬɜɭɸɳɟɣ
ɨɫɧɨɜɧɨɣ ɫɬɪɚɬɟɝɢɢ
ɫɨɝɥɚɫɧɨ
ɫɨɨɬɜɟɬɫɬɜɭ
ɸɳɟɣ
ɨɫɧɨɜɧɨɣ
ɫɬɪɚɬɟɝɢɢ
ɫɨɝɥɚɫɧɨ
ɫɨɨɬɜɟɬɫɬɜɭ
ɸɳɟɣ
ɨɫɧɨɜɧɨɣ
ɫɬɪɚɬɟɝɢɢ
Ʌɢɤɜɢɞɧɵɟ
ɢɧɜɟɫɬɢɰɢɢ: 0ௗ–ௗ20ௗ%
Ɉɛɥɢɝɚɰɢɢ: 20ௗ–ௗ40ௗ%
Ⱥɤɰɢɢ: 15ௗ–ௗ35ௗ%
ɇɟɞɜɢɠɢɦɨɫɬɶ: 5ௗ–ௗ15ௗ%
ɋɵɪɶɟ: 25ௗ–ௗ45ௗ%
Ɋɢɫɤ ɜɵɲɟ
ɫɪɟɞɧɟɝɨ
8 ɥɟɬ
% ɜ ɝɨɞ
9
.. ɉɟɪɜɵɣ ɲɚɝ ± ɷɬɨ ɜɫɟɝɞɚ
ɞɨɜɟɪɢɬɟɥɶɧɵɣ ɞɢɚɥɨɝ
Ʉɨɝɞɚ ɞɟɥɨ ɤɚɫɚɟɬɫɹ ȼɚɲɟɝɨ ɢɦɭɳɟɫɬɜɚ, ɩɟɪɫɨɧɚɥɶɧɨɟ ɢ ɞɨɥɝɨɫɪɨɱɧɨɟ ɨɬɧɨɲɟɧɢɟ ɦɟɠɞɭ
ȼɚɦɢ ɢ ȼɚɲɢɦ ɥɢɱɧɵɦ ɤɨɧɫɭɥɶɬɚɧɬɨɦ ɫɬɚɧɨɜɢɬɫɹ ɜɚɠɧɟɣɲɟɣ ɩɪɟɞɩɨɫɵɥɤɨɣ ɩɥɨɞɨɬɜɨɪɧɨɝɨ ɫɨɬɪɭɞɧɢɱɟɫɬɜɚ ɢ ɨɫɧɨɜɨɣ ɜɡɚɢɦɧɨɝɨ ɞɨɜɟɪɢɹ. ȼ ɫɜɹɡɢ ɫ ɷɬɢɦ ɨɮɨɪɦɥɟɧɢɟ ɨɬɧɨɲɟɧɢɣ
ɩɨɪɭɱɟɧɢɹ ɜ Valartis Bank (Liechtenstein) AG
ɩɪɟɞɜɚɪɹɟɬ ɥɢɱɧɚɹ ɢ ɞɨɜɟɪɢɬɟɥɶɧɚɹ ɛɟɫɟɞɚ.
ɂɞɟɬ ɥɢ ɪɟɱɶ ɨɛ ɨɩɪɟɞɟɥɟɧɢɢ ɰɟɥɢ ȼɚɲɢɯ ɢɧɜɟɫɬɢɰɢɣ, ɪɚɡɪɚɛɨɬɤɟ ɢ ɜɨɩɥɨɳɟɧɢɢ ɜ ɠɢɡɧɶ
ɫɨɨɬɜɟɬɫɬɜɭɸɳɟɣ ɢɦ ɢɧɜɟɫɬɢɰɢɨɧɧɨɣ ɫɬɪɚɬɟɝɢɢ, ɢɥɢ ɨ ɞɨɥɝɨɫɪɨɱɧɨɦ ɫɨɯɪɚɧɟɧɢɢ ɢ ɩɨɫɬɨɹɧɧɨɦ ɩɪɟɭɦɧɨɠɟɧɢɢ ȼɚɲɟɝɨ ɢɦɭɳɟɫɬɜɚ:
Ɇɵ ɜɫɟɝɞɚ ɝɨɬɨɜɵ ɪɚɡɪɚɛɨɬɚɬɶ ɞɥɹ ȼɚɫ
ɪɟɲɟɧɢɟ, ɫɨɨɬɜɟɬɫɬɜɭɸɳɟɟ ȼɚɲɢɦ
ɩɨɬɪɟɛɧɨɫɬɹɦ.
ɂɦɟɧɧɨ ɩɨɷɬɨɦɭ ȼɚɲ ɥɢɱɧɵɣ ɤɨɧɫɭɥɶɬɚɧɬ
ɞɨɥɠɟɧ ɯɨɪɨɲɨ ɩɨɧɢɦɚɬɶ ȼɚɲɟ ɜɢɞɟɧɢɟ
ɫɢɬɭɚɰɢɢ. Ⱦɟɬɚɥɶɧɨ ɨɡɧɚɤɨɦɶɬɟ ɟɝɨ ɫɨ ɫɜɨɟɣ
ɫɢɬɭɚɰɢɟɣ, ɪɚɫɫɤɚɠɢɬɟ ɨ ȼɚɲɢɯ ɩɨɬɪɟɛɧɨɫɬɹɯ
ɢ ɩɨɠɟɥɚɧɢɹɯ ɜ ɫɜɹɡɢ ɫ ɩɥɚɧɢɪɭɟɦɵɦɢ ȼɚɦɢ
ɢɧɜɟɫɬɢɰɢɹɦɢ.
ɗɬɨ ɩɨɡɜɨɥɢɬ ɧɚɦ ɜɵɪɚɛɨɬɚɬɶ ɫɨɜɦɟɫɬɧɭɸ
ɫɬɪɚɬɟɝɢɸ ɢ ɞɨɫɬɢɱɶ ɩɨɫɬɚɜɥɟɧɧɵɯ ɰɟɥɟɣ.
ɉɪɟɢɦɭɳɟɫɬɜɚ, ɨɛɪɟɬɚɟɦɵɟ ȼɚɦɢ ɛɥɚɝɨɞɚɪɹ ɭɩɪɚɜɥɟɧɢɸ ɢɧɜɟɫɬɢɰɢɨɧɧɵɦ ɩɨɪɬɮɟɥɟɦ
Valartis Bank (Liechtenstein) AG, ɫɜɹɡɚɧɵ ɫ
ɢɧɞɢɜɢɞɭɚɥɶɧɨɣ ɫɬɪɭɤɬɭɪɢɡɚɰɢɟɣ ȼɚɲɟɝɨ
ɩɨɪɬɮɟɥɹ, ɚ ɬɚɤɠɟ ɪɟɝɭɥɹɪɧɵɦɢ ɩɪɨɜɟɪɤɚɦɢ,
ɩɪɨɜɨɞɢɦɵɦɢ ɤɨɦɢɬɟɬɨɦ ɩɨ ɢɧɜɟɫɬɢɰɢɹɦ ɤɨɧɰɟɪɧɚ Valartis.
Ʉɪɨɦɟ ɬɨɝɨ, ɫɨɯɪɚɧɹɟɬɫɹ ɝɢɛɤɨɫɬɶ ɭɩɪɚɜɥɟɧɢɹ
ȼɚɲɢɦ ɢɦɭɳɟɫɬɜɨɦ ɛɥɚɝɨɞɚɪɹ ɜɨɡɦɨɠɧɨɫɬɢ ɜ
ɥɸɛɨɣ ɦɨɦɟɧɬ ɚɧɧɭɥɢɪɨɜɚɬɶ ɜɵɞɚɧɧɨɟ ȼɚɦɢ
ɩɨɪɭɱɟɧɢɟ.
ɇɚ ɨɫɧɨɜɚɧɢɢ ɩɨɪɭɱɟɧɢɹ ɧɚ ɭɩɪɚɜɥɟɧɢɟ ɢɦɭɳɟɫɬɜɨɦ ȼɵ ɧɚɩɪɹɦɭɸ ɞɟɥɟɝɢɪɭɟɬɟ ɩɪɢɧɹɬɢɟ
ɨɬɞɟɥɶɧɵɯ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɪɟɲɟɧɢɣ ɷɤɫɩɟɪɬɚɦ Valartis Bank (Liechtenstein) AG ɢ ɨɫɜɨɛɨɠɞɚɟɬɟɫɶ ɬɟɦ ɫɚɦɵɦ ɨɬ ɥɸɛɨɝɨ ɪɨɞɚ ɧɚɝɪɭɡɨɤ
ɚɞɦɢɧɢɫɬɪɚɬɢɜɧɨɝɨ ɯɚɪɚɤɬɟɪɚ.
Ɇɵ ɝɨɬɨɜɵ ɭɩɪɚɜɥɹɬɶ ȼɚɲɢɦɢ ɚɤɬɢɜɚɦɢ, ɧɚɱɢɧɚɹ ɨɬ ɫɭɦɦɵ 300.000,- ɲɜ.ɮɪɚɧɤɨɜ (ɷɤɜɢɜɚɥɟɧɬ ɩɪɢɦɟɪɧɨ 250.000,- ɟɜɪɨ).
.. Ʉɨɦɩɥɟɤɫɧɵɣ ɩɨɞɯɨɞ
ɉɪɨɮɟɫɫɢɨɧɚɥɶɧɨ ɩɨɫɬɪɨɟɧɧɨɟ ɭɩɪɚɜɥɟɧɢɟ
ɢɧɜɟɫɬɢɰɢɨɧɧɵɦ ɩɨɪɬɮɟɥɟɦ ɨɫɧɨɜɵɜɚɟɬɫɹ ɧɟ
ɬɨɥɶɤɨ ɧɚ ɨɩɬɢɦɚɥɶɧɨɣ ɫɬɪɭɤɬɭɪɢɡɚɰɢɢ ɩɨɪɬɮɟɥɹ, ɧɚ ɞɨɥɝɨɫɪɨɱɧɵɯ ɷɤɨɧɨɦɢɱɟɫɤɢɯ
ɢ ɦɨɧɟɬɚɪɧɵɯ ɬɟɧɞɟɧɰɢɹɯ ɪɚɡɜɢɬɢɹ ɢ ɤɪɚɬɤɨɫɪɨɱɧɵɯ ɢɡɦɟɧɟɧɢɹɯ ɤɭɪɫɨɜ ɰɟɧɧɵɯ ɛɭɦɚɝ ɢ
ɜɚɥɸɬ.
ɍɱɟɬ ɢɧɞɢɜɢɞɭɚɥɶɧɵɯ ɩɪɟɞɩɨɱɬɟɧɢɣ ɢ
ɡɚɩɪɨɫɨɜ ɤɥɢɟɧɬɚ ɨɡɧɚɱɚɟɬ ɬɚɤɠɟ ɞɟɬɚɥɶɧɵɣ
ɚɧɚɥɢɡ ɞɨɯɨɞɨɜ ɢ ɩɪɢɛɵɥɟɣ ɧɚ ɜɥɨɠɟɧɧɵɣ
ɤɚɩɢɬɚɥ. ȼ ɫɨɬɪɭɞɧɢɱɟɫɬɜɟ ɫ ɜɧɟɲɧɢɦɢ
ɫɩɟɰɢɚɥɢɫɬɚɦɢ ɦɨɠɧɨ ɬɚɤɠɟ ɪɚɫɫɦɨɬɪɟɬɶ
ɜɨɩɪɨɫɵ ɧɚɫɥɟɞɨɜɚɧɢɹ ɢ ɩɪɚɜɨɩɪɟɟɦɫɬɜɚ.
Valartis Bank (Liechtenstein) AG
10
.. ɉɪɢɦɟɪ:
Impulse 7rust ɜ ɤɚɱɟɫɬɜɟ ɜɥɚɞɟɥɶɰɚ ɫɱɟɬɚ
ɜ 9alartis Bank /iechtenstein A*
ɂɧɜɟɫɬɢɰɢɨɧɧɚɹ ɫɬɪɚɬɟɝɢɹ
ªɋɛɚɥɚɧɫɢɪɨɜɚɧɧɚɹ©
ɫɦ. ɫɬɪ. Ȼɚɡɢɫɧɚɹ ɜɚɥɸɬɚ: ȿɜɪɨ
Ɉɩɢɫɚɧɢɟ ɫɬɪɚɬɟɝɢɢ
ɂɧɜɟɫɬɢɰɢɨɧɧɚɹ ɫɬɪɚɬɟɝɢɹ ªɋɛɚɥɚɧɫɢɪɨɜɚɧɧɚɹ© ɧɚɰɟɥɟɧɚ, ɜ ɩɟɪɜɭɸ ɨɱɟɪɟɞɶ, ɧɚ ɫɨɯɪɚɧɟɧɢɟ ɤɚɩɢɬɚɥɚ, ɚ ɬɚɤɠɟ ɧɚ ɩɨɥɭɱɟɧɢɟ ɪɟɝɭɥɹɪɧɨɝɨ ɞɨɯɨɞɚ, ɤɨɬɨɪɵɣ ɦɨɠɧɨ ɪɚɫɫɱɢɬɚɬɶ.
ɋɨɨɬɜɟɬɫɬɜɭɸɳɟ ɜɵɫɨɤɨɣ ɹɜɥɹɟɬɫɹ ɢ ɞɨɥɹ
ɢɧɜɟɫɬɢɰɢɣ ɜ ɰɟɧɧɵɟ ɛɭɦɚɝɢ, ɩɪɢɧɨɫɹɳɢɟ
ɬɜɟɪɞɵɣ ɩɪɨɰɟɧɬ. Ⱦɨɜɨɥɶɧɨ ɨɝɪɚɧɢɱɟɧɧɨɣ
ɱɚɫɬɶɸ ɩɨɪɬɮɟɥɹ ɹɜɥɹɟɬɫɹ ɞɨɥɹ ɜɥɨɠɟɧɢɣ ɜ
ɚɤɰɢɢ – ɨɬ 15 % ɞɨ 20 % ɨɬ ɨɛɴɟɦɚ ɢɧɜɟɫɬɢɰɢɣ, ɰɟɥɶɸ ɤɨɬɨɪɨɣ ɹɜɥɹɟɬɫɹ ɩɨɥɭɱɟɧɢɟ ɜ
ɫɪɟɞɧɟɫɪɨɱɧɨɣ ɩɟɪɫɩɟɤɬɢɜɟ ɛɨɥɟɟ ɜɵɫɨɤɨɝɨ
ɞɨɯɨɞɚ, ɱɟɦ ɧɚ ɪɵɧɤɟ ɤɚɩɢɬɚɥɚ. Ⱦɚɧɧɚɹ ɢɧɜɟɫɬɢɰɢɨɧɧɚɹ ɫɬɪɚɬɟɝɢɹ ɨɫɨɛɟɧɧɨ ɩɨɞɯɨɞɢɬ ɜ
ɬɨɦ ɫɥɭɱɚɟ, ɤɨɝɞɚ ɤɥɢɟɧɬ ɰɟɧɢɬ ɛɟɡɨɩɚɫɧɨɫɬɶ
ɢ ɩɨɥɭɱɟɧɢɟ ɪɟɝɭɥɹɪɧɨɝɨ ɞɨɯɨɞɚ.
ɋɨɨɬɧɨɲɟɧɢɟ ɞɨɥɟɣ
Ʌɢɤɜɢɞɧɵɟ ɜɥɨɠɟɧɢɹ: 0-20%
Ɉɛɥɢɝɚɰɢɢ: 0-80%
Ⱥɤɰɢɢ: 15-25%
ɉɨɪɬɮɟɥɶ ªɋɛɚɥɚɧɫɢɪɨɜɚɧɧɵɣ© ɩɨ ɫɨɫɬɨɹɧɢɸ ɧɚ ..
ɋɭɦɦɚɪɧɨ
Ⱦɟɧɟɠɧɵɣ ɪɵɧɨɤ
Ɉɛɥɢɝɚɰɢɢ
Ⱥɤɰɢɢ
ɂɬɨɝɨ
ȿɜɪɨɡɨɧɚ
Ɉɫɬɚɥɶɧɚɹ
ȿɜɪɨɩɚ
ɋɟɜɟɪɧɚɹ
Ⱥɦɟɪɢɤɚ
Ⱥɡɢɹɪɚɡɜɢɜɚɸɳɢɟɫɹ
ɪɵɧɤɢȺɥɶɬɟɪɧɚɬɢɜɧɵɟ
ɢɧɜɟɫɬɢɰɢɢ
,25
73,75
20,00
,25
55,30
7,05
0,00
7,40
2,70
0,00
7,40
5,5
0,00
3,5
4,0
Ⱥɤɰɢɢ
Ⱦɟɧɟɠɧɵɣ
ɪɵɧɨɤ
Ɉɛɥɢɝɚɰɢɢ
Valartis Bank (Liechtenstein) AG
11
ɋɬɪɭɤɬɭɪɚ ɢɦɭɳɟɫɬɜɚ ɩɨ
ɫɨɫɬɨɹɧɢɸ ɧɚ ..
Ⱥɤɰɢɢ
Ƚɟɪɦɚɧɢɹ
Ɏɪɚɧɰɢɹ
ɇɢɞɟɪɥɚɧɞɵ
ɂɬɚɥɢɹ
Ⱥɜɫɬɪɢɹ
ȼɟɥɢɤɨɛɪɢɬɚɧɢɹ
ɋɤɚɧɞɢɧɚɜɫɤɢɟ ɫɬɪɚɧɵ
ɒɜɟɣɰɚɪɢɹ
ɉɨɥɶɲɚ
ȼɨɫɬɨɱɧɚɹ ȿɜɪɨɩɚ
ɋɒȺ
Ʉɚɧɚɞɚ
əɩɨɧɢɹ
Ʉɢɬɚɣ
Ʌɚɬɢɧɫɤɚɹ Ⱥɦɟɪɢɤɚ
ɋɬɪɚɧɵ Ɍɢɯɨɝɨ ɨɤɟɚɧɚ,
ɤɪ. əɩɨɧɢɢ
ɂɧɞɢɹ
2,50 %
1,75 %
1,40 %
0,80 %
0,0 %
1,50 %
0,50 %
0,20 %
0,30 %
0,20 %
4,85 %
0,80 %
2,00 %
0,80 %
0,40 %
Ɉɛɥɢɝɚɰɢɢ
EUR
GB3
SE.
D..
USD
-3<
AUD
55,30ௗ%
3,00ௗ%
2,20ௗ%
2,20ௗ%
7,40ௗ%
2,20ௗ%
1,45ௗ%
1,00 %
0,40 %
Valartis Bank (Liechtenstein) AG
12
ɉɟɪɟɱɟɧɶ ɢɦɭɳɟɫɬɜɚ
Gamprin-Bendern, 03/10/2013
Portfolio valuation as of 30/09/2013
Portfolio
300600
Portfolio name
impulse stiftung.com
Reference currency
EUR
Performance Overview - Performance View
1
Portfolio valuation - Shares and sim ilar investments
Portfolio valuation - Total portfolio
2
Assets Analysis - Bonds and similar investments
9
Portfolio valuation - Liquidity
3
Assets Analysis - Shares and similar investments
10
Portfolio valuation - Bonds and similar investments
4
Cash flow analysis - Expected cash flow
11
7
.
.
.
.
.
.
.
.
.
.
Performance Overview as of 30/09/2013
Reference currency EUR
Portfolio 10.300600_0 impulse stiftung.com
Gamprin-Bendern, 03/10/2013
Performance View
Yearly performance in %
.
883'227
9'452
-262'736
620'491
19'495
12'642
-8'894
15'747
-8'987
0
-1'945
-3'560
-106
-3'376
631'113
7'017
10'509
1.69%
746'600
1.41%
.
PERFORMANCE DETAILS
Initial Assets as of 31/12/2012
Incl. accrued interest
+/- Remittances/Withdrawals
Adjusted Assets as of 31/12/2012
Profit before interest, fees and taxes
+/- Gain or loss on capital
+/- Gain or loss on currencies
+/- Interest/Dividend income
Total costs
Paid interest
Periodic fees
Fees & Commissions
Taxes
Management fees
Final Assets
Accrued interest end of period
Absolute Gain/Loss
Gain in % in the period, non weighted
Average Asset Value
Capital weighted performance
10.00%
7.50%
5.00%
2.50%
0.00%
-2.50%
-5.00%
-7.50%
2009
2010
2011
2012
2013
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
1 / 11
Valartis Bank (Liechtenstein) AG
13
Portfolio valuation as of 30/09/2013
Reference currency EUR
Portfolio 10.300600_0 impulse stiftung.com
Gamprin-Bendern, 03/10/2013
Total portfolio
EUR
EUR
EUR
37'922
490'164
102'917
6.01%
77.68%
16.31%
Total net assets
EUR
631'003
100.00%
Total portfolio by currency
472'945
EUR
175'390
USD
41'175
AUD
EUR
EUR
EUR
472'945
129'649
28'409
74.95%
20.55%
4.50%
Total net assets
EUR
631'003
100.00%
.
Total portfolio by investment category
Liquidity
Bonds and similar investments
Shares and similar investments
.
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
2 / 11
Portfolio valuation as of 30/09/2013
Reference currency EUR
Portfolio 10.300600_0 impulse stiftung.com
Curr.
Nominal/
Unit
Description
EUR
10'621.73
Current acc.
Accrued Interest
10.300600_0 100
IBAN LI36 0880 3103 0060 0000 1
USD
36'931.63
Current acc.
Accrued Interest
10.300600_0 100
IBAN LI09 0880 3103 0060 0000 2
Gamprin-Bendern, 03/10/2013
Hist.Cost pr.
Exch.rate
Curr.price
Exch.rate
Change
in %
Value
Accrued Interest
Part
in %
10'621.73
0.00
1.68
0.00
27'299.92
0.00
4.33
0.00
37'921.65
0.00
6.01
0.00
Liquidity
1.3528
.
.
Total Liquidity
Total Accrued Interest
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
3 / 11
Valartis Bank (Liechtenstein) AG
14
Portfolio valuation as of 30/09/2013
Reference currency EUR
Curr.
Nominal/
Unit
EUR
400.00
EUR
80'000.00
Portfolio 10.300600_0 impulse stiftung.com
Maturity
Description
Gamprin-Bendern, 03/10/2013
Hist.Cost pr.
Exch.rate
Curr.price
Exch.rate
Change
in %
Value
Accrued Interest
Part
in %
FISCH UMRELLA BOND VAL INV GRADE
UNITS -HA- CAPITALISATION
LU0504482315
114.5500
118.4300
3.39
3.39
47'372.00
0.00
7.51
0.00
3.625% OESTERR. KONTROLLBANK
2008-10.12.2013
Accrued Interest for 294 days
XS0403964116
101.8125
100.6650
-1.13
-1.13
80'532.00
2'335.89
12.76
0.37
100.1500
102.9300
2.78
2.78
41'172.00
690.41
6.52
0.11
101.7750
101.8050
0.03
0.03
81'444.00
942.47
12.91
0.15
Bonds and similar investments
40'000.00
VRN (MIN 3.75%) JP MORGAN CHASE BANK
1999-15.04.2014
Accrued Interest for 168 days
XS0096100226
EUR
80'000.00
2% GE CAPITAL EUROPEAN FUNDING
2012-27.02.2015 -REG-S SENIORAccrued Interest for 215 days
XS0750684929
.
EUR
.
10/12/2013
15/04/2014
27/02/2015
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
4 / 11
Portfolio valuation as of 30/09/2013
Reference currency EUR
Portfolio 10.300600_0 impulse stiftung.com
Maturity
Curr.
Nominal/
Unit
Description
EUR
50'000.00
2.625% BNP PARIBAS
2010-16.09.2016 -REG-S SER 13675 SEN
Accrued Interest for 379 days
XS0542371629
EUR
45'000.00
VAR% (NO MIN) COMMERZBANK AG
1999-16.09.2019 EMTN FRN SENIOR S162
Accrued Interest for 198 days
XS0101863586
Gamprin-Bendern, 03/10/2013
Hist.Cost pr.
Exch.rate
Curr.price
Exch.rate
Change
in %
Value
Accrued Interest
Part
in %
105.2040
104.5800
-0.59
-0.59
52'290.00
50.34
8.29
0.01
101.7500
100.4000
-1.33
-1.33
45'180.00
60.09
7.16
0.01
99.0000
103.0000
4.04
4.04
51'500.00
1'553.60
8.16
0.25
101.9973
1.3063
100.1500
1.3528
-1.81
-3.44
-5.18
55'523.28
1'108.80
8.80
0.18
16/09/2016
16/09/2019
.
.
EUR
USD
50'000.00
75'000.00
5.375% ALLIANZ FINANCE II BV
2006 - OHNE FESTEN VERFALL
NACHRANGIG
Accrued Interest for 211 days
DE000A0GNPZ3
03/03/2099
2.5% RABOBANK NETHERLAND NV
2010-12.12.2013 -GMTN- SER.2178A SEN.
Accrued Interest for 288 days
XS0486153413
12/12/2013
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
5 / 11
Valartis Bank (Liechtenstein) AG
15
Portfolio valuation as of 30/09/2013
Reference currency EUR
Curr.
Nominal/
Unit
AUD
40'000.00
Portfolio 10.300600_0 impulse stiftung.com
Maturity
Description
4.5% RABOBANK NEDERLAND
2012-09.07.2015 -REG-S SERIES 2584A SENIORAccrued Interest for 83 days
XS0802744754
Gamprin-Bendern, 03/10/2013
Hist.Cost pr.
Exch.rate
Curr.price
Exch.rate
Change
in %
Value
Accrued Interest
Part
in %
99.6900
1.1634
101.9150
1.4494
2.23
-19.73
-17.94
28'126.67
282.41
4.46
0.04
483'139.95
7'024.01
76.57
1.11
09/07/2015
Total Bonds and similar investments
Total Accrued Interest
.
.
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
6 / 11
Portfolio valuation as of 30/09/2013
Reference currency EUR
Curr.
Nominal/
Unit
EUR
100.00
EUR
Portfolio 10.300600_0 impulse stiftung.com
Description
Gamprin-Bendern, 03/10/2013
Hist.Cost pr.
Exch.rate
Curr.price
Exch.rate
Change
in %
Value
Accrued Interest
Part
in %
JULIUS BAER - SAM SUSTAINABLE WATER FUND
SHS -B- CAPITALISATION
LU0133061175
133.2400
181.4600
36.19
36.19
18'146.00
2.88
22.00
LGT SUSTAINABLE EQUITY FUND EUROPE
ANTEILE KLASSE -(EUR) BLI0015327906
848.8300
887.7100
4.58
4.58
19'529.62
3.10
EUR
50.00
PIONEER FUNDS - GLOBAL ECOLOGY
UNITS -A- CAPITALISATION
LU0271656133
140.1500
191.0900
36.35
36.35
9'554.50
1.51
USD
250.00
RESPONS ABILITY GLB.MICROFINANCE
UNITS -USDLU0180189770
117.8700
1.4144
144.0200
1.3528
22.19
4.56
27.75
26'614.95
4.22
EUR
100.00
SWISSCANTO (LU) GREEN INVEST EQ
PORTFOLIO FUND FCP
LU0161535835
82.8240
99.7000
20.38
20.38
9'970.00
1.58
Shares and similar investments
.
.
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
7 / 11
Valartis Bank (Liechtenstein) AG
1
Portfolio valuation as of 30/09/2013
Reference currency EUR
Curr.
Nominal/
Unit
USD
125.00
Portfolio 10.300600_0 impulse stiftung.com
Description
Gamprin-Bendern, 03/10/2013
Hist.Cost pr.
Exch.rate
Curr.price
Exch.rate
Change
in %
Value
Accrued Interest
Part
in %
192.0800
1.3029
206.7300
1.3528
7.63
-3.69
3.66
19'101.89
3.03
VONTOBEL SUSTAINABLE ASIA (EX JAPAN) EQUITY
CAPITALISATION
LU0384409263
102'916.96
16.31
Total assets
including accrued interest
Liabilities
including accrued interest
Total net assets
including accrued interest
631'002.57
7'024.01
0.00
0.00
631'002.57
7'024.01
100.00
1.11
0.00
0.00
100.00
1.11
.
Total Shares and similar investments
.
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
8 / 11
Assets Analysis as of 30/09/2013
Reference currency EUR
Portfolio 10.300600_0 impulse stiftung.com
Gamprin-Bendern, 03/10/2013
Bonds and similar investments
Analysis by maturity
2013
2014
2015-2017
2018-2020
2021 and over
w/o maturity
EUR
EUR
EUR
EUR
EUR
EUR
139'500
41'862
163'136
45'240
53'054
47'372
28.46%
8.54%
33.28%
9.23%
10.82%
9.66%
Total
EUR
490'164
100.00%
Analysis by currency
405'123
EUR
76'613
USD
41'175
AUD
EUR
EUR
EUR
405'123
56'632
28'409
82.65%
11.55%
5.80%
Total
EUR
490'164
100.00%
40.00%
30.00%
20.00%
10.00%
0.00%
.
2013
2014
.
2015
-2017
2018 2021 and w/o
-2020
over
maturity
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
9 / 11
Valartis Bank (Liechtenstein) AG
17
Assets Analysis as of 30/09/2013
Reference currency EUR
Portfolio 10.300600_0 impulse stiftung.com
Gamprin-Bendern, 03/10/2013
Shares and similar investments
EUR
EUR
19'530
83'387
18.98%
81.02%
Total
EUR
102'917
100.00%
Analysis by security type
Foreign Shares Funds
EUR
102'917
100.00%
Total
EUR
102'917
100.00%
.
Analysis by security country
Liechtenstein
Luxembourg
.
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
10 / 11
Cash flow analysis as of 30/09/2013
Reference currency EUR
Portfolio 10.300600_0 impulse stiftung.com
Gamprin-Bendern, 03/10/2013
Expected cash flow
2013
October November
September
752
December
January
February
March
2014
April
1'600
3'464
748
1'600
3'464
748
Coupons
Capital
EUR
EUR
Total
EUR
2013
2014
2015
2016
2017
> 2017
Coupons
Capital
EUR
EUR
5'038
135'440
9'157
8'406
107'598
5'569
50'000
4'254
32'694
45'000
Total
EUR
140'478
9'157
116'005
55'569
4'254
77'694
-
4'286
135'440
752
-
139'726
-
May
June
July
August
1'242
-
-
1'242
-
.
.
.
Haftungsausschluss: Die angegebenen Werte gelten als Richtlinie und sind für die Bank nicht verbindlich.
Disclaimer: The indicated values only serve as guidelines and are not binding the Bank.
11 / 11
Valartis Bank (Liechtenstein) AG
18
ɈȻɊȺɁȿɐ
Valartis Bank (Liechtenstein) AG
Schaaner Strasse 27
9487 Gamprin-Bendern
Fürstentum Liechtenstein
Phone +423 265 56 56
Fax +423 265 56 99
info@valartis.li
www.valartisbank.li
MwSt. Nr. 53242
Reg.-Nr.FL-0001.534.001-6
SIC Code: 08803-7
SWIFT Code: HYIBLI22
1/2
30000
Gamprin-Bendern, 01/10/2013
Current acc.
EUR
IBA1:
LI3 0880 3103 000 0000 1
Account no.
10.30000B0 100
Account statement - 'ate
'escriptiondetails
30/0/2013
Carry forward
9alue date
12/07/2013
Interest payment AUD 40’000
23/07/2013
Dividend 100 SWC(LU)3F GI E4 A
1/09/2013
Interest payment EUR 50’000 B133 1
1/09/2013
'eEit
Credit Balance in (8R
8’779.24
09/07/2013
1’279.01
10’058.25
19/07/2013
75.00
10’133.25
30/09/2012
1’312.50
11’445.75
731.34
12’177.09
RABOBA1. 15 REG-S
REG-S
1/09/2013
Interest payment EUR 45’000
COMMER=B. 19 FR1
30/09/2013
Mailing Fee
30/09/2013
-24.85
30/09/2013
Custody Fee
30/09/2013
-93.81
11’188.43
30/09/2013
Management Fee
30/09/2013
-521.20
10’7.23
30/09/2013
Client Mgt. Fee
30/09/2013
-41.41
10’25.82
30/09/2013
Account Fee
30/09/2013
-4.09
Summe
Saldo
Valartis Bank (Liechtenstein) AG
-1’555.3
12’152.24
10’21.73
3’397 .85
¶.
19
ɈȻɊȺɁȿɐ
Valartis Bank (Liechtenstein) AG
Schaaner Strasse 27
9487 Gamprin-Bendern
Fürstentum Liechtenstein
Phone +423 265 56 56
Fax +423 265 56 99
info@valartis.li
www.valartisbank.li
MwSt. Nr. 53242
Reg.-Nr.FL-0001.534.001-6
SIC Code: 08803-7
SWIFT Code: HYIBLI22
2/2
30000
Gamprin-Bendern, 01/10/2013
Current acc.
USD
IBA1:
LI3 0880 3103 000 0000 2
Account no.
10.30000B0 100
Account statement - 'ate
'escriptiondetails
9alue date
'eEit
Credit
Balance in 8S'
84’98.4
8’19.93
30/0/2013
Carry forward
01/07/2013
Redemption of 00 RES3 GL
1’921.47
1/07/2013
3urchase of 125 VO1 SUS A;- E4 BC 17/07/2013
-24’338.87
2’281.0
24/07/2013
Subscription of 22 LGT SUST E4 EU
-25’343.90
3’937.1
30/09/2013
Account Fee
02/07/2013
MICROFI1A1CE
2/07/2013
EUR B
Total
Balance
30/09/2012
-5.53
-49’88.30
3’931.3
84’98.4
¶.
Valartis Bank (Liechtenstein) AG
20
ɈȻɊȺɁȿɐ
Valartis Bank (Liechtenstein) AG
Schaaner Strasse 27
9487 Gamprin-Bendern
Fürstentum Liechtenstein
Phone +423 265 56 56
Fax +423 265 56 99
info@valartis.li
www.valartisbank.li
MwSt. Nr. 53242
Reg.-Nr.FL-0001.534.001-6
SIC Code: 08803-7
SWIFT Code: HYIBLI22
Holder: 30000
Ref. 1o.: 09128
Gamprin-Bendern, 1 -uly 2013
S(C8RI7I(S P8RC+AS(
3lace of signature: over-the-counter market
We hereby con¿rm that on 12 -uly 2013 at 2.00 p.m. we purchased the following
for your account:
125 Bonds in foreign currencies
VO1TOBEL SUSTAI1ABLE ASIA (E; -A3A1) E4UIT<
CA3ITALISATIO1
Val.-1o.: 4514037
ISI1: LU038440923
At a rate of:
8S' .
Commission:
Foreign commissions: USD
Stamp duty
Net amount:
9alue 'ate:
52.75
USD
8S'
3.02
¶.
8S'
¶.
10.30000B0.100.EUR
We have added the securities to your securities custody account 30000.
.ind regards
9alartis Bank
/iechtenstein A*
Advice valid without signature
Valartis Bank (Liechtenstein) AG
¶.
240.10
Net to your deEit
Account:
8S'
USD
21
ɈȻɊȺɁȿɐ
Valartis Bank (Liechtenstein) AG
Schaaner Strasse 27
9487 Gamprin-Bendern
Fürstentum Liechtenstein
Phone +423 265 56 56
Fax +423 265 56 99
info@valartis.li
www.valartisbank.li
MwSt. Nr. 53242
Reg.-Nr.FL-0001.534.001-6
SIC Code: 08803-7
SWIFT Code: HYIBLI22
Holder:
Ref. 1o.:
30000
09128
Gamprin-Bendern, 14 May 2013
S(C8RI7I(S SA/(
3lace of signature: over-the-counter market
We hereby con¿rm that on 13 May 2103 at 1.00 p.m. we sold the following for your account:
300 Bonds in foreign currencies
-ULlUS BAER - SAM SUSTAI1ABLE WATER FU1D
SHS -B- CA3ITALISATIO1
Val.-1o.: 127543.410.000
At a rate of:
Commission:
Stamp duty:
Net amount:
(8R .
9alue 'ate:
Net to your deEit
Account:
(8R
EUR
EUR
(8R
¶.
523.02
78.45
¶.
(8R
¶.
10.30000B0.100.EUR
We have taken the securities from your securities custody account 30000..
.ind regards
9alartis Bank
/iechtenstein A*
Advice valid without signature
Valartis Bank (Liechtenstein) AG
22
ɈȻɊȺɁȿɐ
Valartis Bank (Liechtenstein) AG
Schaaner Strasse 27
9487 Gamprin-Bendern
Fürstentum Liechtenstein
Phone +423 265 56 56
Fax +423 265 56 99
info@valartis.li
www.valartisbank.li
MwSt. Nr. 53242
Reg.-Nr.FL-0001.534.001-6
SIC Code: 08803-7
SWIFT Code: HYIBLI22
Holder:
30000
Ref. 1o.: 030849
Gamprin-Bendern, 1 September 2013
CO8PON CO//(C7ION
We hereby credit you - subject to ¿nal payment - with the income from the following securities:
EUR 45’000 Bonds in foreign currencies var.
VAR% (10 MI1) COMMER=BA1. AG
1999-1.09.2019 EMT1 FR1 SE1IOR S12
Val-1o.: 1001034.210.000
Ex date:
Due date:
Coupon rate:
1 September 2013
1 September 2013
3.22392 %
*ross amount:
(8R
.
Net amount:
(8R
.
(8R
.
9alue 'ate:
Net credit
Account
10.30000B0.100.EUR
.ind regards
9alartis Bank
/iechtenstein A*
Advice valid without signature
Valartis Bank (Liechtenstein) AG
23
Valartis Bank (Liechtenstein) AG
24
. ɉɨɪɭɱɟɧɢɟ ɧɚ ɨɤɚɡɚɧɢɟ ɤɨɧɫɭɥɶɬɚɰɢɨɧɧɵɯ
ɭɫɥɭɝ ɩɨ ɢɧɜɟɫɬɢɰɢɹɦ
ɫɬɨɢɦɨɫɬɶɸ ɨɬ - ɲɜɟɣɰɚɪɫɤɢɯ ɮɪɚɧɤɨɜ ɢɥɢ ɷɤɜɢɜɚɥɟɧɬɚ ɜ ɞɪɭɝɨɣ ɜɚɥɸɬɟ
Ɉɩɵɬ ɩɨɤɚɡɵɜɚɟɬ, ɱɬɨ ɧɟɤɨɬɨɪɵɟ ɤɥɢɟɧɬɵ
ɩɪɟɞɩɨɱɢɬɚɸɬ ɫɚɦɢ ɭɩɪɚɜɥɹɬɶ ɫɜɨɢɦɢ ɢɧɜɟɫɬɢɰɢɹɦɢ, ɚ ɛɚɧɤ ɢɦ ɧɭɠɟɧ ɢɫɤɥɸɱɢɬɟɥɶɧɨ ɞɥɹ
ɫɨɜɟɬɚ ɢɥɢ ɨɛɦɟɧɚ ɦɧɟɧɢɹɦɢ. Ȼɚɧɤ ɩɟɪɢɨɞɢɱɟɫɤɢ ɞɟɥɚɟɬ ɤɥɢɟɧɬɭ ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ ɩɪɟɞɥɨɠɟɧɢɹ, ɨɬɧɨɫɹɳɢɟɫɹ ɤ ɟɝɨ ɢɧɜɟɫɬɨɪɫɤɨɦɭ
ɩɪɨɮɢɥɸ. Ɉɫɧɨɜɧɵɦɢ ɩɚɪɚɦɟɬɪɚɦɢ ɩɪɢ ɷɬɨɦ
ɹɜɥɹɸɬɫɹ ɩɪɟɞɩɨɱɬɢɬɟɥɶɧɚɹ ɛɚɡɨɜɚɹ ɜɚɥɸɬɚ,
ɨɛɳɚɹ ɝɨɬɨɜɧɨɫɬɶ ɢɞɬɢ ɧɚ ɪɢɫɤ ɢ ɩɪɟɫɥɟɞɭɟɦɚɹ ɜ ɫɪɟɞɧɟɫɪɨɱɧɨɣ ɩɟɪɫɩɟɤɬɢɜɟ ɢɧɜɟɫɬɢɰɢɨɧɧɚɹ ɰɟɥɶ. ȼ ɥɢɱɧɨɣ ɛɟɫɟɞɟ ɤɥɢɟɧɬ ɪɟɲɚɟɬ,
ɜɨɫɩɨɥɶɡɨɜɚɬɶɫɹ ɥɢ ɟɦɭ ɪɟɤɨɦɟɧɞɚɰɢɹɦɢ
ɛɚɧɤɚ ɢɥɢ ɧɟɬ, ɢ ɟɫɥɢ ɞɚ, ɬɨ ɜ ɤɚɤɨɣ ɫɬɟɩɟɧɢ.
ȼɚɠɧɨ ɬɨ, ɱɬɨ ɤɥɢɟɧɬ ɩɪɢɧɢɦɚɟɬ ɢɧɜɟɫɬɢɰɢɨɧɧɨɟ ɪɟɲɟɧɢɟ ɫɚɦɨɫɬɨɹɬɟɥɶɧɨ ɢ ɩɨɬɨɦɭ ɧɟɫɟɬ
ɡɚ ɧɟɝɨ ɟɞɢɧɨɥɢɱɧɭɸ ɨɬɜɟɬɫɬɜɟɧɧɨɫɬɶ. Ⱦɚɧɧɚɹ
ɭɫɥɭɝɚ ɩɪɟɞɨɫɬɚɜɥɹɟɬɫɹ ɤɥɢɟɧɬɭ ɬɨɥɶɤɨ ɜ ɬɨɦ
ɫɥɭɱɚɟ, ɟɫɥɢ ɭ ɛɚɧɤɨɜɫɤɢɯ ɤɨɧɫɭɥɶɬɚɧɬɨɜ ɟɫɬɶ
ɜɨɡɦɨɠɧɨɫɬɶ ɜɫɬɪɟɱɚɬɶɫɹ ɥɢɛɨ ɫɜɹɡɵɜɚɬɶɫɹ
ɫ ɤɥɢɟɧɬɨɦ ɩɨ ɬɟɥɟɮɨɧɭ ɢɥɢ ɷɥɟɤɬɪɨɧɧɨɣ ɩɨɱɬɟ, ɢ ɤɥɢɟɧɬ ɫɩɨɫɨɛɟɧ ɭɞɟɥɹɬɶ ɷɬɨɦɭ ɞɨɥɠɧɵɣ ɨɛɴɟɦ ɜɪɟɦɟɧɢ. ɉɨɪɭɱɟɧɢɟ ɧɚ ɨɤɚɡɚɧɢɟ
ɤɨɧɫɭɥɶɬɚɰɢɨɧɧɵɯ ɭɫɥɭɝ ɩɨ ɢɧɜɟɫɬɢɰɢɹɦ ɦɵ
ɝɨɬɨɜɵ ɜɵɩɨɥɧɢɬɶ ɩɪɢ ɜɥɨɠɟɧɢɹɯ ɨɬ 150.000,ɲɜɟɣɰɚɪɫɤɢɯ ɮɪɚɧɤɨɜ (ɷɤɜɢɜɚɥɟɧɬ 125.000,ɟɜɪɨ).
©ɉɨɥɢɬɢɤɚɞɨɥɠɧɚɛɵɬɶɱɟɫɬɧɨɣɢ
ɞɨɥɠɧɚɨɛɴɹɫɧɹɬɶɝɪɚɠɞɚɧɚɦɱɬɨ
ɧɚɫɬɭɩɚɟɬɜɪɟɦɹɛɨɥɟɟ
ɞɥɢɬɟɥɶɧɨɝɨɪɚɛɨɱɟɝɨɫɬɚɠɚɩɪɢ
ɭɦɟɧɶɲɚɸɳɟɦɫɹɪɚɡɦɟɪɟɩɟɧɫɢɢª
ɉɪɨɮɟɫɫɨɪ Ⱦ-ɪ Ȼɟɪɧɞ Ɋɚɮɮɟɥɶɯɸɲɟɧ
ɉɨɪɭɱɟɧɢɟ ɧɚ ɨɤɚɡɚɧɢɟ ɤɨɧɫɭɥɶɬɚɰɢɨɧɧɵɯ
ɭɫɥɭɝ ɜ ɨɛɥɚɫɬɢ ɢɧɜɟɫɬɢɰɢɣ ± ȼɚɲɢ
ɩɪɟɢɦɭɳɟɫɬɜɚ
‡ ɋ ɭɱɟɬɨɦ ɩɪɟɫɥɟɞɭɟɦɵɯ ȼɚɦɢ
ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɰɟɥɟɣ ȼɚɦ ɩɪɟɞɥɚɝɚɟɬɫɹ
ɫɬɪɨɝɨ ɢɧɞɢɜɢɞɭɚɥɶɧɨɟ ɢɧɜɟɫɬɢɰɢɨɧɧɨɟ
‡ ɩɪɟɞɥɨɠɟɧɢɟ, ɭɱɢɬɵɜɚɸɳɟɟ ȼɚɲɭ ɥɢɱɧɭɸ
ɫɢɬɭɚɰɢɸ ɢ ɝɨɬɨɜɧɨɫɬɶ ɢɞɬɢ ɧɚ ɪɢɫɤ.
‡ Ȼɚɧɤ ɩɨɫɬɨɹɧɧɨ ɚɧɚɥɢɡɢɪɭɟɬ ɢ ɨɰɟɧɢɜɚɟɬ
ɧɨɜɵɟ ɮɢɧɚɧɫɨɜɵɟ ɩɪɨɞɭɤɬɵ, ɚ ɬɚɤɠɟ
ɨɬɞɟɥɶɧɵɟ ɤɚɬɟɝɨɪɢɢ ɢɧɜɟɫɬɢɰɢɣ ɢ
ɫɟɝɦɟɧɬɵ ɰɟɧɧɵɯ ɛɭɦɚɝ. ȿɫɥɢ ɛɚɧɤ ɫɱɢɬɚɟɬ,
ɱɬɨ ɢɡɦɟɧɟɧɢɹ ɪɵɧɤɚ, ɧɨɜɵɟ ɷɦɢɫɫɢɢ,
ɭɜɟɥɢɱɟɧɢɹ ɨɫɧɨɜɧɨɝɨ ɤɚɩɢɬɚɥɚ ɞɥɹ
ɢɧɜɟɫɬɨɪɚ ɧɟɛɟɡɵɧɬɟɪɟɫɧɵ, ɬɨ ɨɧ ɞɟɥɚɟɬ
ɟɦɭ ɫɨɨɬɜɟɬɫɬɜɭɸɳɟɟ ɢɧɜɟɫɬɢɰɢɨɧɧɨɟ
ɩɪɟɞɥɨɠɟɧɢɟ.
‡‡ Ȼɚɧɤ ɤɨɧɬɪɨɥɢɪɭɟɬ ɜɫɟɜɨɡɦɨɠɧɵɟ ɫɪɨɤɢ
ɭɩɥɚɬɵ, ɩɨɝɚɲɟɧɢɣ, ɤɨɧɜɟɪɫɢɣ ɞɨɥɝɚ,
ɤɪɟɞɢɬɨɜɚɧɢɣ ɢ ɨɛɪɟɦɟɧɟɧɢɣ. ȿɫɥɢ
ɛɚɧɤ ɜɢɞɢɬ ɧɟɨɛɯɨɞɢɦɨɫɬɶ ɜ ɬɟɯ ɢɥɢ
ɢɧɵɯ ɞɟɣɫɬɜɢɹɯ, ɨɧ ɞɟɥɚɟɬ ɢɧɜɟɫɬɨɪɭ
ɫɨɨɬɜɟɬɫɬɜɭɸɳɟɟ ɢɧɜɟɫɬɢɰɢɨɧɧɨɟ
ɩɪɟɞɥɨɠɟɧɢɟ.
‡ Ȼɚɧɤ ɜɵɞɟɥɹɟɬ ɢɧɜɟɫɬɨɪɭ ɤɨɦɩɟɬɟɧɬɧɨɝɨ
ɫɨɬɪɭɞɧɢɤɚ, ɤɨɬɨɪɵɣ ɜ ɱɚɫɵ ɪɚɛɨɬɵ ɛɚɧɤɚ
ɧɚɯɨɞɢɬɫɹ ɜ ɟɝɨ ɪɚɫɩɨɪɹɠɟɧɢɢ, ɩɨɦɨɝɚɟɬ
ɟɦɭ ɫ ɪɟɚɥɢɡɚɰɢɟɣ ɟɝɨ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ
ɪɟɲɟɧɢɣ ɢ ɧɚɯɨɞɢɬ ɫɟɛɟ ɡɚɦɟɧɭ ɧɚ ɫɥɭɱɚɣ
ɫɜɨɟɝɨ ɨɬɫɭɬɫɬɜɢɹ.
‡ Ɋɚɡ ɜ ɩɨɥɝɨɞɚ ȼɵ ɩɨɥɭɱɚɟɬɟ ɢɧɮɨɪɦɚɰɢɸ
ɨ ȼɚɲɟɦ ɢɦɭɳɟɫɬɜɟɧɧɨɦ ɫɨɫɬɨɹɧɢɢ ɫ
ɩɨɤɚɡɚɬɟɥɹɦɢ ɞɨɯɨɞɧɨɫɬɢ ɨɫɭɳɟɫɬɜɥɟɧɧɵɯ
ȼɚɦɢ ɢɧɜɟɫɬɢɰɢɣ.
‡ ȼɵ ɩɪɢɧɢɦɚɟɬɟ ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ ɪɟɲɟɧɢɹ
ɢ/ɢɥɢ ɪɟɲɚɟɬɟ, ɤɚɤɢɦ ɪɟɤɨɦɟɧɞɚɰɢɹɦ
ɩɨ ɨɫɭɳɟɫɬɜɥɟɧɢɸ ɢɧɜɟɫɬɢɰɢɣ ȼɚɦ
ɩɨɫɥɟɞɨɜɚɬɶ, ɚ ɤɚɤɢɦ - ɧɟɬ.
Valartis Bank (Liechtenstein) AG
25
Page 1 of 3
ɈȻɊȺɁȿɐ
Securities portfolio_________________________________Account no. ________________________
Investment advice mandate
1.
General
Valartis Bank (Liechtenstein) AG, hereinafter
referred to as the "Bank", is hereby ordered to
manage the securities portfolio and/or accounts
listed under the above portfolio number according
to the following advice mandate.
Dynamic, aware of the risks
Increase the share of high-risk securities in ¿nancial assets to take advantage of higher return opportunities, also, for example, complex
funds, structured products
The Bank shall provide investment advice services for the above securities portfolio according
to the information in Section 2. The Investor shall
decide whether he or she considers the investment recommendations that are given. The Investor shall make his or her own investment decisions.
Speculative
Main share in high-risk securities in ¿nancial
assets and/or transactions with uncovered options, also, for example, options, derivatives,
hedge funds
2.
Special agreements
Guidelines for investment advice,
speci¿cations
____________________________________
____________________________________
The Bank shall make investment proposals to the
Investor according to the speci¿cations made by
the Investor. The Investor shall make his or her
wishes known to the Bank for orientation purposes as follows:
____________________________________
____________________________________
Reference currency
The Investor con¿rms that the information he
or she provided regarding his or her ¿nancial
and personal circumstances and ability to
take risks is true. The Investor acknowledges
that the Bank accepts no liability for the chosen speci¿cations.
The reference currency is the currency in which
the Investor calculates and in which performance
is measured; however, this does not exclude
investments in other currencies.
CHF
EURO
USD
______
Investment objectives
Increase wealth, make provisions
Ongoing return, withdrawals, preserve value
Other investment objectives (e.g. real estate,
etc.):
____________________________________
Willingness to take risks
Security-focused
Largely low-risk securities, e.g. bonds with a
good rating, pure bond funds
The Bank will use the above information for its
initial investment proposal. The Investor may
announce changes to the speci¿cations at any
time; the Bank will consider these changes immediately in its investment proposals.
3.
Investment advice
The Bank shall advise the Investor how to
achieve his or her investment objectives based
on the speci¿cations given by the Investor, the
structure of the portfolio and the results of the
¿nancial analysis. This advice shall be given
within the scope of the services offered by the
Bank and shall be based on the Bank's internal
investment guidelines until the Investor instructs
it otherwise in writing.
Return-oriented
Mainly low-risk securities, also, for example,
bonds, stocks, stock funds, stock-like instruments
Valartis Bank (Liechtenstein) AG
2
Page 2 of 3
ɈȻɊȺɁȿɐ
SPECIMEN
The Investor may contact the Bank at any time
for an investment proposal and ask the Bank to
provide information about speci¿c products.
The Bank may also contact the Investor to make
an investment proposal.
The Investor shall decide whether to consider the
investment proposal made by the Bank or not.
The investment decisions shall be made solely by
the Investor. All transactions are made on the
account of and at the risk of the Investor.
The Investor acknowledges that the Banks' investment proposals are based on information
from reliable and trustworthy sources. However,
the Bank accepts no liability and gives no guarantee that the information is correct or complete.
5.
Monitoring investment instruments
The Bank shall not monitor the investments. The
Bank shall advise the Investor only in terms of
transactions; in other words, transactions will be
checked to see whether they meet the Investor's
speci¿cations or not. If the Bank discovers deviations, it shall draw the Investor's attention to these.
The Bank shall provide the investment advice
within the scope of this Agreement until it is advised otherwise.
6.
Performance of investment instruments
The Investor acknowledges that the Bank's investment proposals may quickly become outdated due to developments on the market; consequently, investment proposals have only temporary validity and may have to be updated over
time.
The Bank shall bear no responsibility for the performance of the investments it recommends. The
Investor acknowledges that the past performance
of an investment instrument or an investment
category is no indication of its future performance. 1o representative or agent of the Bank
may make oral or written promises or guarantees
now or in the future.
Therefore, the Investor should make known investment decisions that are made based on an
investment proposal from the Bank in a timely
manner or within the time recommended by the
Bank.
In particular, the Bank shall not be liable for incorrect or omitted information in prospectuses or
other documents, such as pricing information.
The Bank shall also not be liable for losses due
to incorrect or omitted information.
4.
7.
Services provided by the Bank
Liquidity management
The Bank shall monitor all maturities, repayments, conversions, credits and debits. If the
Bank believes that action should be taken, it shall
make an investment proposal to the Investor.
Product and securities analysis
The Bank shall continuously analyse and assess
new financial products and individual investment
categories and securities segments. If the Bank
believes that changes in the market, new issues
or capital increases are interesting for the Investor, it shall make a suitable investment proposal
to the Investor.
Contact person
The Bank shall name a competent contact person for the Investor who can be contacted to
implement investment decisions during the
Bank's opening hours and shall also ensure that
a competent deputy is available if the contact
person is unavailable.
Valartis Bank (Liechtenstein) AG
Reporting
The Bank shall provide the Investor with a report
every six calendar months that reÀects the performance of the assets – with consideration of
ingoing and outgoing payments.
To assess the ¿nancial instruments held in the
customer's portfolio, the Bank will use the following assessment criteria:
Investment funds shall always be valued at the
share price published by the respective fund
company.
The value of listed securities will usually be determined at the price of the main trading place.
27
Page 3 of 3
ɈȻɊȺɁȿɐ
If there is no stock market price for ¿nancial instruments, the Bank will determine the market
value on the basis of general assessment criteria.
The ¿nancial instruments in the customer's portfolio shall be assessed by the respective reporting date at the latest.
The Bank may pool orders from several customers and forward these as a pooled order. If this
pooled order is executed at different prices, the
Bank will divide the order between the individual
customer's securities portfolios at average values.
8.
Fees
For its activities within the scope of this investment advice mandate, the Bank shall charge fees
according to the applicable rates. The Bank may
change these rates at any time. The Investor will
be noti¿ed of any changes in writing or in another
appropriate manner.
.
Bene¿ts
The Investor acknowledges and accepts that the
Bank may obtain bene¿ts from third parties (including group companies) in connection with the
purchase or sale of collective capital investments,
certi¿cates, notes etc. (hereinafter referred to as
"3roducts"; these also include such that are
managed and/or issued by a group company) in
the form of portfolio payments and selling commissions (e.g. from issue and repurchase commissions). The amount of such bene¿ts varies
depending on the product and the product provider.
Before signing this Agreement or before the Bank
begins its activities within the scope of this investment advice mandate, the Investor may request further details about agreements with third
parties in connection with such bene¿ts. The
claim to information about further details before
signing the Agreement shall be limited to information from the previous 12 months. The customer expressly waives the right to claim further
information. If the customer does not request any
details before signing this Agreement or before
the Bank begins its activities within the scope of
this investment advice mandate or if he or she
signs the Agreement after obtaining further details, he or she expressly waives any right of
surrender in terms of Section 1009a of the Austrian Civil Code (ABGB).
1. Investment restrictions
The Investor acknowledges that if the securities
portfolio is pledged as security for loans from the
Bank or from third parties, the Bank may place
investment restrictions on the portfolio based on
internal instructions in relation to the lending
value of securities and other assets.
11. 9alidity
This order shall lapse with the death of the Investor or if the Investor is declared missing, incapable of acting or bankrupt. However, it may be
terminated by either party in writing at any time
with immediate effect allowing time for the sale of
securities.
12. Applicable laZ and place of jurisdiction
3ortfolio payments are usually calculated on the
basis of the volume of a product or a product
group held by the Bank. The amount is generally
a percentage of the management fees for the
respective product, which is paid periodically
while the products are held; sales commissions
may also be paid by securities issuers in the form
of discounts on the issue price (percentage discount) or in the form of one-off payments corresponding to a percentage of the issue price.
Commissions for concluding a contract are oneoff payments. They are usually a percentage of
the respective issue and/or repurchase price.
In all other respects, especially regarding applicable law and place of jurisdiction, the Bank's
Standard Terms and Conditions of Business and
Securities 3ortfolio Regulations shall apply.
Should any individual provision or any part of any
provision of this Agreement be or become void or
unenforceable, the validity of the remaining provisions shall in no way be affected.
_______________________________________
Date
_______________________________________
Signature
Valartis Bank (Liechtenstein) AG
28
3.
ɂɧɜɟɫɬɢɰɢɨɧɧɵɣ ɮɨɧɞ ɩɨɞ ɛɪɟɧɞɨɦ ɤɥɢɟɧɬɚ
Private Lable Fonds
ɂɧɜɟɫɬɢɰɢɨɧɧɵɟ ɮɨɧɞɵ ɨɛɫɥɭɠɢɜɚɧɢɟ ɪɚɡɧɵɯ ɜɢɞɨɜ ɚɤɬɢɜɨɜ
9alartis Fund Management Liechtenstein AG
Valartis Fund Management (Liechtenstein) AG
ɹɜɥɹɟɬɫɹ 100%-ɧɨɣ ɞɨɱɟɪɧɟɣ ɤɨɦɩɚɧɢɟɣ
Valartis Bank (Liechtenstein) AG. Ʉɨɦɩɚɧɢɹ
ɫɩɟɰɢɚɥɢɡɢɪɭɟɬɫɹ ɧɚ ɫɨɡɞɚɧɢɢ ɢ ɬɟɤɭɳɟɦ ɫɨɩɪɨɜɨɠɞɟɧɢɢ ɞɟɹɬɟɥɶɧɨɫɬɢ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ
ɮɨɧɞɨɜ. Ⱦɚɧɧɚɹ ɮɢɧɚɧɫɨɜɚɹ ɭɫɥɭɝɚ ɩɨɡɜɨɥɹɟɬ
ɨɫɭɳɟɫɬɜɥɹɬɶ ɥɸɛɵɟ ɜɢɞɵ ɜɥɨɠɟɧɢɹ ɫɪɟɞɫɬɜ,
ɛɭɞɶ ɬɨ ɢɧɜɟɫɬɢɰɢɢ ɜ ɤɥɚɫɫɢɱɟɫɤɢɟ ɰɟɧɧɵɟ
ɛɭɦɚɝɢ, ɧɚɩɪɢɦɟɪ, ɚɤɰɢɢ ɢ ɨɛɥɢɝɚɰɢɢ, ɢɧɜɟɫɬɢɰɢɢ ɜ ɧɟɞɜɢɠɢɦɨɫɬɶ ɢ ɢɧɵɟ ɫɨɯɪɚɧɹɸɳɢɟ
ɫɬɨɢɦɨɫɬɶ ɩɨɡɢɰɢɢ.
ɉɨɥɧɵɣ ɩɚɤɟɬ ɭɫɥɭɝ ɩɨ ɫɨɡɞɚɧɢɸ ɮɨɧɞɚ
ɇɚɲɚ ɞɨɱɟɪɧɹɹ ɤɨɦɩɚɧɢɹ ɩɪɟɞɥɚɝɚɟɬ ɩɨɥɧɵɣ
ɩɚɤɟɬ ɭɫɥɭɝ, ɧɚɱɢɧɚɹ ɫ ɩɟɪɜɢɱɧɨɣ ɤɨɧɫɭɥɶɬɚɰɢɢ ɢ ɡɚɤɚɧɱɢɜɚɹ ɨɤɨɧɱɚɬɟɥɶɧɨɣ ɪɟɝɢɫɬɪɚɰɢɟɣ ɢɧɜɟɫɬɢɰɢɨɧɧɨɝɨ ɮɨɧɞɚ ɫ ɩɪɢɫɜɨɟɧɢɟɦ
ɦɟɠɞɭɧɚɪɨɞɧɨɝɨ ɢɞɟɧɬɢɮɢɤɚɰɢɨɧɧɨɝɨ ɤɨɞɚ
ɰɟɧɧɵɯ ɛɭɦɚɝ ISI1. ɉɪɢ ɷɬɨɦ ɨɫɧɨɜɧɭɸ ɫɜɨɸ
ɡɚɞɚɱɭ ɤɨɦɩɚɧɢɹ ɜɢɞɢɬ ɜ ɩɟɪɜɢɱɧɨɦ ɪɚɡɴɹɫɧɟɧɢɢ ɞɟɹɬɟɥɶɧɨɫɬɢ/ɭɱɪɟɠɞɟɧɢɢ ɢ ɩɨɫɥɟɞɭɸɳɟɦ
ɬɟɤɭɳɟɦ ɚɞɦɢɧɢɫɬɪɢɪɨɜɚɧɢɢ ɢɧɞɢɜɢɞɭɚɥɶɧɨ
ɨɮɨɪɦɥɟɧɧɨɝɨ ɮɨɧɞɚ. Ɏɨɧɞɨɜɵɟ ɪɟɲɟɧɢɹ
ɪɚɡɪɚɛɨɬɚɧɵ ɞɥɹ ɫɨɫɬɨɹɬɟɥɶɧɵɯ ɱɚɫɬɧɵɯ ɥɢɰ,
ɫɟɦɟɣ ɢ ɧɟɛɨɥɶɲɨɝɨ ɭɡɤɨɝɨ ɤɪɭɝɚ ɢɧɜɟɫɬɨɪɨɜ.
ȼ ɨɛɪɚɳɟɧɢɢ ɤ ɷɬɨɦɭ ɨɫɨɛɨɦɭ ɫɟɝɦɟɧɬɭ ɤɥɢɟɧɬɨɜ Ʌɢɯɬɟɧɲɬɟɣɧ ɭɥɨɜɢɥ ɜɟɹɧɢɟ ɜɪɟɦɟɧɢ,
ɫɨɡɞɚɜ ɜ 2005 ɝɨɞɭ ɧɨɜɵɣ ɩɪɚɜɨɜɨɣ ɦɟɯɚɧɢɡɦ
ɧɨɜɨɣ ɮɨɪɦɵ, ɧɚɡɜɚɧɧɨɣ ©Ɏɨɧɞɨɦ ɞɥɹ ɤɜɚɥɢɮɢɰɢɪɨɜɚɧɧɵɯ ɢɧɜɟɫɬɨɪɨɜª. ɋɥɟɞɭɟɬ ɭɱɟɫɬɶ,
ɱɬɨ ɜ ɫɨɨɬɜɟɬɫɬɜɢɢ ɫ ɡɚɤɨɧɨɦ ɤɚɠɞɵɣ ɮɨɧɞ
ɨɛɹɡɚɧ ɪɚɫɩɨɥɚɝɚɬɶ ɢɦɭɳɟɫɬɜɨɦ ɫɬɨɢɦɨɫɬɶɸ
ɧɟ ɦɟɧɟɟ 2 ɦɥɧ. ɲɜɟɣɰɚɪɫɤɢɯ ɮɪɚɧɤɨɜ (ɥɢɛɨ
ɷɤɜɢɜɚɥɟɧɬɚ ɜ ɞɪɭɝɨɣ ɜɚɥɸɬɟ).
Ʌɢɯɬɟɧɲɬɟɣɧ ɤɚɤ ɮɨɧɞɨɜɵɣ ɰɟɧɬɪ
ɏɨɬɹ Ʌɢɯɬɟɧɲɬɟɣɧ ɤɚɤ ɮɨɧɞɨɜɵɣ ɰɟɧɬɪ ɨɬɧɨɫɢɬɫɹ ɜ ɦɟɠɞɭɧɚɪɨɞɧɨɦ ɫɪɚɜɧɟɧɢɢ ɤ ɭɱɪɟɠɞɟɧɢɹɦ, ɫɤɨɪɟɟ, ɧɟɛɨɥɶɲɨɝɨ ɦɚɫɲɬɚɛɚ, ɬɟɦ ɧɟ
ɦɟɧɟɟ ɜ ɢɧɫɚɣɞɟɪɫɤɢɯ ɤɪɭɝɚɯ ɨɧ ɫɱɢɬɚɟɬɫɹ ɚɛɫɨɥɸɬɧɵɦ ɮɚɜɨɪɢɬɨɦ (ªɮɨɧɞɨɜɵɦ ɛɭɬɢɤɨɦ©)
ɛɥɚɝɨɞɚɪɹ ɫɜɨɟɦɭ ɧɨɜɨɦɭ ɩɟɪɟɞɨɜɨɦɭ ɡɚɤɨɧɨɞɚɬɟɥɶɫɬɜɭ ɨ ɮɨɧɞɚɯ, ɨɫɬɚɜɥɹɸɳɟɦɭ ɲɢɪɨɤɢɣ
ɩɪɨɫɬɨɪ ɞɥɹ ɢɧɞɢɜɢɞɭɚɥɶɧɵɯ ɪɟɲɟɧɢɣ. Ʉɪɨɦɟ
ɬɨɝɨ, ɮɨɧɞɨɜɵɣ ɰɟɧɬɪ Ʌɢɯɬɟɧɲɬɟɣɧɚ ɢɡɜɥɟɤɚɟɬ ɦɚɤɫɢɦɚɥɶɧɭɸ ɜɵɝɨɞɭ ɢɡ ɫɬɪɨɝɨ ɭɡɚɤɨɧɟɧɧɨɣ ɡɚɳɢɬɵ ɢɧɜɟɫɬɨɪɨɜ ɜ ɸɪɢɞɢɱɟɫɤɨɦ ɩɪɨɫɬɪɚɧɫɬɜɟ Ʌɢɯɬɟɧɲɬɟɣɧɚ.
Valartis Bank (Liechtenstein) AG
ɂɧɜɟɫɬɢɰɢɨɧɧɵɣ ɮɨɧɞ ɩɨɞ ɛɪɟɧɞɨɦ
ɤɥɢɟɧɬɚ ± ȼɚɲɢ ɩɪɟɢɦɭɳɟɫɬɜɚ
‡ ɉɪɟɞɥɚɝɚɟɦɵɟ Valartis Fund Management
(Liechtenstein) AG ɪɟɲɟɧɢɹ ɞɥɹ ɮɨɧɞɨɜ, ɛɚɡɢɪɭɸɬɫɹ ɧɚ ɤɨɧɤɪɟɬɧɨɣ ɢɫɯɨɞɧɨɣ ɫɢɬɭɚɰɢɢ
ɢ ɩɨɡɜɨɥɹɸɬ ɞɨɫɬɢɱɶ ɫɚɦɵɯ ɪɚɡɧɵɯ ɰɟɥɟɣ
ɢ, ɜ ɱɚɫɬɧɨɫɬɢ, ɜɨɫɩɨɥɶɡɨɜɚɬɶɫɹ ɩɪɟɢɦɭɳɟɫɬɜɚɦɢ ɭɩɪɨɳɟɧɧɨɝɨ ɩɨɪɹɞɤɚ ɧɚɫɥɟɞɨɜɚɧɢɹ,
ɡɚɳɢɬɵ ɢɦɭɳɟɫɬɜɚ, ɫɜɟɞɟɧɢɹ ɜɨɟɞɢɧɨ ɲɢɪɨɤɨɝɨ ɫɩɟɤɬɪɚ ɢɦɭɳɟɫɬɜɟɧɧɵɯ ɰɟɧɧɨɫɬɟɣ.
‡ ɉɪɢɫɜɨɟɧɢɟ ȼɚɲɟɦɭ ɮɨɧɞɭ ɮɢɪɦɟɧɧɨɝɨ
ɡɧɚɤɚ ªValartis©
‡ Ɇɚɤɫɢɦɚɥɶɧɚɹ ɝɢɛɤɨɫɬɶ ɜ ɜɵɛɨɪɟ ɰɟɥɟɜɵɯ
ɚɤɬɢɜɨɜ (ɢɯ ɜɢɞɚ ɢ ɞɢɜɟɪɫɢɮɢɤɚɰɢɢ)
‡ Ɇɚɤɫɢɦɚɥɶɧɚɹ ɝɢɛɤɨɫɬɶ ɜ ɨɬɧɨɲɟɧɢɢ ɱɢɫɥɚ
ɢɧɜɟɫɬɨɪɨɜ; ɜɨɡɦɨɠɧɵ ɮɨɧɞɵ, ɫɨɫɬɨɹɳɢɟ
ɢɡ ɨɞɧɨɝɨ ɢɧɜɟɫɬɨɪɚ
‡ ɉɨɥɧɨɟ ɨɫɜɨɛɨɠɞɟɧɢɟ ɨɬ ɧɚɥɨɝɨɨɛɥɨɠɟɧɢɹ
ɮɨɧɞɨɜɨɝɨ ɢɦɭɳɟɫɬɜɚ ɧɚ ɬɟɪɪɢɬɨɪɢɢ
Ʌɢɯɬɟɧɲɬɟɣɧɚ
‡ Ɉɛɟɫɩɟɱɟɧɢɟ ɜɵɫɨɤɨɝɨ ɭɪɨɜɧɹ ɡɚɳɢɬɵ
ɢɦɭɳɟɫɬɜɚ (asset protection) ɱɟɪɟɡ
ɞɟɩɨɡɢɬɚɪɧɵɣ ɛɚɧɤ
‡ Ɍɪɚɧɫɮɨɪɦɚɰɢɹ ɨɬɞɟɥɶɧɵɯ ɚɤɬɢɜɨɜ ɜ
ɡɚɪɟɝɢɫɬɪɢɪɨɜɚɧɧɭɸ ɰɟɧɧɭɸ ɛɭɦɚɝɭ
ɫ ɩɪɢɫɜɨɟɧɧɵɦ ɟɣ ɦɟɠɞɭɧɚɪɨɞɧɵɦ
ɢɞɟɧɬɢɮɢɤɚɰɢɨɧɧɵɦ ɤɨɞɨɦ (ISI1)
‡ Ɏɢɡɢɱɟɫɤɚɹ ɜɵɞɚɱɚ ȼɚɲɟɝɨ ɮɨɧɞɨɜɨɝɨ
ɫɟɪɬɢɮɢɤɚɬɚ (ɩɨ ɠɟɥɚɧɢɸ ɢ ɫ ɭɱɟɬɨɦ
ɬɪɟɛɨɜɚɧɢɣ ɞɟɩɨɡɢɬɚɪɧɨɝɨ ɛɚɧɤɚ)
‡ ɍɩɪɨɳɟɧɢɟ ɩɥɚɧɢɪɭɟɦɨɝɨ ɩɨɪɹɞɤɚ
ɩɪɚɜɨɩɪɟɟɦɫɬɜɚ/ɧɚɫɥɟɞɨɜɚɧɢɹ
(ɧɨɦɢɧɚɥɶɧɚɹ ɞɟɥɢɦɨɫɬɶ ɢɦɭɳɟɫɬɜɚ)
‡ ɒɢɪɨɤɢɣ ɫɩɟɤɬɪ ɧɨɭ-ɯɚɭ, ɩɪɢɧɚɞɥɟɠɚɳɢɣ
Ƚɪɭɩɩɟ Valartis (ɫɥɢɹɧɢɹ ɩɨɝɥɨɳɟɧɢɹ,
ɧɟɞɜɢɠɢɦɨɫɬɶ,...)
29
ɂɧɜɟɫɬɨɪɵ
ɧɚɩɪɢɦɟɪ, ɮɢɡɢɱɟɫɤɨɟ ɥɢɰɨ, ɚɤɰɢɨɧɟɪɧɨɟ ɨɛɳɟɫɬɜɨ, ɬɪɚɫɬ/ɭɱɪɟɠɞɟɧɢɟ
ɍɩɪɚɜɥɟɧɢɟ ɢɦɭɳɟɫɬɜɨɦ
Ƚɪɭɩɩɚ Valartis ɢɥɢ ɞɟɥɟɝɢɪɨɜɚɧɢɟ ɤɜɚɥɢɮɢɰɢɪɨɜɚɧɧɵɦ
ɬɪɟɬɶɢɦ ɥɢɰɚɦ
ɂɧɜɟɫɬɢɰɢɨɧɧɵɣ ɮɨɧɞ
ɩɨɞ ɛɪɟɧɞɨɦ ɤɥɢɟɧɬɚ
Ɋɟɜɢɡɢɹ ɧɚɞɡɨɪ
‡ ɪɟɜɢɡɢɨɧɧɵɣ ɨɪɝɚɧ, ɧɚɩɪ.,
ɉɪɚɣɫɭɨɬɟɪɯɚɭɫɄɭɩɟɪɫ;
‡ ɫɥɭɠɛɚ ɧɚɞɡɨɪɚ ɡɚ ɮɢɧɚɧɫɨɜɵɦɢ ɪɵɧɤɚɦɢ
Ɋɭɤɨɜɨɞɫɬɜɨ ɮɨɧɞɚ
(Ⱥɞɦɢɧɢɫɬɪɚɰɢɹ ɮɨɧɞɚ)
Ʉɨɧɫɭɥɶɬɚɬɢɜɧɵɣ ɫɨɜɟɬ
(ɮɚɤɭɥɶɬɚɬɢɜɧɨ)
ɇɚɩɪ., ɜɧɟɲɧɢɟ ɫɩɟɰɢɚɥɢɫɬɵ
ɩɨ ɩɪɟɞɦɟɬɧɨɣ ɨɛɥɚɫɬɢ
Ʌɢɤɜɢɞɧɵɟ ɚɤɬɢɜɵ
(ɧɚɩɪ., ɰɟɧɧɵɟ ɛɭɦɚɝɢ)
Ⱦɟɩɨɡɢɬɚɪɧɵɣ ɛɚɧɤ
ɋɩɟɰɢɚɥɶɧɵɟ ɚɤɬɢɜɵ
(ɧɚɩɪ., ɧɟɞɜɢɠɢɦɨɫɬɶ)
Ȼɥɚɝɨɪɨɞɧɵɟ ɦɟɬɚɥɥɵ
(ɧɚɩɪ. ɮɢɡɢɱɟɫɤɨɟ ɡɨɥɨɬɨ)
ɂɧɜɟɫɬɨɪɵ
ɨɞɢɧ ɢɥɢ ɧɟɫɤɨɥɶɤɨ ɩɚɣɳɢɤɨɜ ɮɨɧɞɚ.
ɍɩɪɚɜɥɹɸɳɢɣ ɢɦɭɳɟɫɬɜɨɦ
ɩɪɢɧɢɦɚɟɬ ɢɧɜɟɫɬɢɰɢɨɧɧɵɟ ɪɟɲɟɧɢɹ ɜ ɫɨɨɬɜɟɬɫɬɜɢɢ
ɫ ɩɪɨɫɩɟɤɬɨɦ ɮɨɧɞɚ. ɐɟɥɶ – ɫɨɯɪɚɧɟɧɢɟ ɢ ɩɪɟɭɦɧɨɠɟɧɢɟ
ɢɦɭɳɟɫɬɜɚ ɮɨɧɞɚ.
Ʉɨɧɫɭɥɶɬɚɬɢɜɧɵɣ ɫɨɜɟɬ
ɮɚɤɭɥɶɬɚɬɢɜɧɵɣ ɫɩɟɰɢɚɥɢɡɢɪɨɜɚɧɧɵɣ ɨɪɝɚɧ, ɨɤɚɡɵɜɚɸɳɢɣ
ɫɨɞɟɣɫɬɜɢɟ ɜ ɭɩɪɚɜɥɟɧɢɢ ɢɦɭɳɟɫɬɜɨɦ.
Ɋɟɜɢɡɢɹ ɧɚɞɡɨɪ
ɫɥɟɞɢɬ ɡɚ ɩɪɚɜɢɥɶɧɨɫɬɶɸ ɨɫɭɳɟɫɬɜɥɟɧɢɹ ɫɞɟɥɨɤ.
Ɋɭɤɨɜɨɞɫɬɜɨ ɮɨɧɞɚ
ɛɭɞɭɱɢ ɰɟɧɬɪɚɥɶɧɵɦ ɤɨɨɪɞɢɧɚɰɢɨɧɧɵɦ ɨɪɝɚɧɨɦ, ɨɰɟɧɢɜɚɟɬ ɩɚɢ
ɮɨɧɞɚ ɢ ɫɥɟɞɢɬ ɡɚ ɫɨɛɥɸɞɟɧɢɟɦ ɡɚɤɨɧɚ.
Ⱦɟɩɨɡɢɬɚɪɧɵɣ ɛɚɧɤ
ɨɬɜɟɱɚɟɬ ɡɚ ɪɚɡɦɟɳɟɧɢɟ/ɜɵɤɭɩ ɩɚɟɜ ɮɨɧɞɚ ɢ ɯɪɚɧɟɧɢɟ
ɢɦɭɳɟɫɬɜɚ ɮɨɧɞɚ.
Ⱥɤɬɢɜɵ
ɹɜɥɹɸɬɫɹ ɢɦɭɳɟɫɬɜɨɦ ɮɨɧɞɚ. ɂɯ ɜɢɞ ɢ ɨɛɴɟɦ ɡɚɜɢɫɹɬ ɨɬ
ɢɧɜɟɫɬɢɰɢɨɧɧɨɣ ɩɨɥɢɬɢɤɢ ɮɨɧɞɚ.
Valartis Bank (Liechtenstein) AG
30
4. ɂɧɬɟɪɧɟɬ-ɛɚɧɤɢɧɝ ZZZ.valartisbank.li
ɉɨɪɬɮɟɥɶ ± ɤɨɞ ɞɨɫɬɭɩɚ
ɉɪɟɞɥɚɝɚɟɦɵɟ ɧɚɦɢ ɫɨɜɪɟɦɟɧɧɵɟ
ɷɥɟɤɬɪɨɧɧɵɟ ɛɚɧɤɨɜɫɤɢɟ ɭɫɥɭɝɢ (ɂɧɬɟɪɧɟɬɛɚɧɤɢɧɝ) ɩɨɡɜɨɥɹɸɬ ɧɚɲɢɦ ɤɥɢɟɧɬɚɦ ɜ ɥɸɛɨɟ
ɜɪɟɦɹ ɤɨɧɬɪɨɥɢɪɨɜɚɬɶ ɫɨɫɬɨɹɧɢɟ ɫɜɨɟɝɨ
ɩɨɪɬɮɟɥɹ, ɩɪɨɢɡɜɨɞɢɬɶ ɩɥɚɬɟɠɢ ɢ ɧɚɩɪɚɜɥɹɬɶ
ɡɚɤɨɞɢɪɨɜɚɧɧɵɟ ɷɥɟɤɬɪɨɧɧɵɟ ɫɨɨɛɳɟɧɢɹ
ɫɜɨɢɦ ɤɨɧɫɭɥɶɬɚɧɬɚɦ. Ʉɪɨɦɟ ɬɨɝɨ, ɢɦɢ ɦɨɠɟɬ
ɛɵɬɶ ɡɚɩɪɨɲɟɧɚ ɢɧɮɨɪɦɚɰɢɹ ɨ ɞɜɢɠɟɧɢɹɯ ɩɨ
ɫɱɟɬɭ ɢ ɫɬɪɭɤɬɭɪɟ ɩɨɪɬɮɟɥɹ.
RSA SecurID Token ɫɥɭɠɢɬ ɷɥɟɤɬɪɨɧɧɵɦ ɤɥɸɱɨɦ ɫ
ɝɟɧɟɪɚɬɨɪɨɦ ɨɞɧɨɪɚɡɨɜɵɯ ɩɚɪɨɥɟɣ
ОБРАЗЕЦ
Ɉɛɡɨɪ
/
Bonds & similar
EUR
77.68%
490,163.96
0.00
6.01%
37,921.65
0.00
37,921.65
16.31%
102,916.96
0.00
102,916.96
100.00%
631,002.57
0.00
631,002.57 EUR
AUD
4.50%
28,409.08
0.00
28,409.08
EUR
74.95%
472,944.65
0.00
472,944.65
Liquidities
Equities & similar
/
USD
490,163.96
EUR
20.55%
129,648.84
0.00
129,648.84
100.00%
631,002.57
0.00
631,002.57 EUR
ɉɥɚɬɟɠɢ
,
Impulse Trust
Valartis Bank (Liechtenstein) AG
HYP
ǩȦȘȖȕȍȌȊȐȎȐȔȖșȚȐ;<
EUR
5,250.00
25.09.2013
ȗȖșȚțȗȐȓȈ
31
ОБРАЗЕЦ
ɉɨɪɬɮɟɥɶ ± Ʌɢɤɜɢɞɧɵɟ ɚɤɬɢɜɵ
[603,649.74 EUR]
30/09/2013
Дата оценки
Вид даты
Дата проводки
Валюта оценки
Liquidities
EUR
EUR
10.300600_0.100.EUR - Current acc.
EUR
10,621.73
10.300600_0.100.USD - Current acc.
USD
36,931.63
10,621.73
27,299.92
37,921.65 EUR
ɉɨɪɬɮɟɥɶ ± ɰɟɧɧɵɟ ɛɭɦɚɝɢ
[603,649.74 EUR]
30/09/2013
EUR
Bonds & similar
EUR
- ALLIANZ FIN BV
50,000
5.375
- BNPP 16 REG-S
99.00
103.00
51,500.00
105.204
104.58
52,290.00
EUR
101.75
100.40
45,180.00
400
EUR
114.55
118.43
47,372.00
80,000
EUR
101.775
101.805
81,444.00
EUR
100.15
102.93
41,172.00
EUR
101.8125
100.665
80,532.00
101.9973
100.15
55,523.28
99.69
101.915
28,126.67
2006/03 2099/03
( )/
50,000
2.625
- COMMERZBK 19 FRN
2010/09 2016/09
- FISCH BOND VA IG HAC
- GE CAP EUROP 15 EMTN
2
- MGN GTY TST CO 14VRN
- OEKB 13
- RABOBANK 13 GMTN
2012/02 2015/02
( )/
- RABOBANK 15 REG-S
690.41
2008/12 2013/12
( )/
2010/02 2013/12
USD
2,335.89
( )/
40,000
4.5
942.47
1999/04 2014/04
75,000
2.5
50.34
60,09
80,000
3.625
1,553.60
1999/09 2019/09
40,000
3.75
EUR
( )/
45,000
3.35219
EUR
2012/07 2015/07
AUD
1,108.80
282.41
( )/
490,163.96 EUR
Equities & similar
EUR
- JB MPA SUS WATER BC
100
EUR
133.24
181.46
18,146.00
- LGT SUST EQ EU EUR B
22
EUR
848.83
887.71
19,529.62
- PION GI ECOLOGY AC
50
EUR
140.15
191.09
9,554.50
- RESP GL MICROFINANCE
250
USD
117.87
144.02
26,614.95
- SWC(LU)PF GI EQ A
100
EUR
82.824
99.70
9,970.00
- VON SUS AXJ EQ BC
125
USD
192.08
206.73
19,101.89
102,916.96 EUR
Valartis Bank (Liechtenstein) AG
32
ОБРАЗЕЦ
ɉɨɪɬɮɟɥɶ ± ɞɢɧɚɦɢɤɚ ɫɬɨɢɦɨɫɬɢ
[603,649.74 EUR]
c: 2013 01
: 2013 10
Актуальный портфель : 10.300600_0
c: Январь 2014 по: Март 2014
Валюта: EUR
Initial Assets
883,226.94
Incl. accrued interest
9,451.91
+/- Remittances/Withdrawals
-292,763.56
Adjusted Assets
590,463.38
Profit before interest, fees and taxes
22,058.50
+/- Gain or loss on capital
15,672.98
+/- Gain or loss on currencies
-10,249.34
+/- Interest/Dividend income
16,634.85
Total costs
-9,013.67
Paid interest
0.00
Periodic fees
-1,945.05
Fees & Commissions
-3,586.99
Taxes
-106.13
Management fees
-3,375.51
Final Assets
603,649.74
Accrued interest end of period
7,152.86
Absolute Gain/Loss
13,044.83
Gain in % in the period, non weighted
2.21 %
Average Asset Value
736,606.93
Capital weighted performance
1.77 %
Average exchange rate
EUR
AUD
USD
1
1.44937
1.35281
Ⱦɜɢɠɟɧɢɹ ɩɨ ɫɱɟɬɭ
1 2 3
:
10.300600_0.100.EUR
30/09/2012
:
:
EUR
30/09/2013
10,621.73 C
Current balance as of 30/09/2013
:
[430,952.36 EUR]
:
Valartis Bank (Liechtenstein) AG
30/09/2013
Account Fee
30/09/2013
Client Mgt. Fee
4.09
10,621.73 К
41.41
10,625.82 К
30/09/2013
30/09/2013
Custody Fee
521.20
10,667.23 К
Management Fee
963.81
30/09/2013
Mailing Fee
11,188.43 К
24.85
12,152.24 К
16/09/2013
Interest payment EUR 45'000 COMMERZBK 19
FRN
16/09/2013
Interest payment EUR 50'000 BNPP 16 REG-S
23/07/2013
Dividend 100 SWC(LU)PF GI EQ A
12/07/2013
Interest payment AUD 40'000 RABOBANK 15
REG-S
30/06/2013
Account Fee
30/06/2013
Client Mgt. Fee
30/06/2013
Custody Fee
30/06/2013
Management Fee
30/06/2013
Mailing Fee
21/05/2013
Debit Liefergebühren
21/05/2013
Debit Fremde Bankspesen
17/05/2013
Redemption of 50'000 SANOFI 13 EMTN
17/05/2013
Interest payment EUR 50'000 SANOFI 13 EMTN
17/05/2013
Funds transfer Vergütungswesen
731.34
12,177.09 К
1,312.50
11,445.75 К
75.00
10,133.25 К
1,279.01
10,058.25 К
4.06
8,779.24 К
41.05
8,783.30 К
617.36
8,824.35 К
1,084.81
9,441.71 К
24.63
10,526.52 К
121.74
10,551.15 К
43.83
10,672.89 К
150,087.07
50,000.00
10,716.72 К
1,750.00
-39,283.28 Д
-41,033.28 Д
33
5.
Ʉɪɚɬɤɨɫɪɨɱɧɚɹ ɧɟɯɜɚɬɤɚ ɥɢɤɜɢɞɧɵɯ
ɫɪɟɞɫɬɜ" ± Ʌɨɦɛɚɪɞɧɵɣ ɤɪɟɞɢɬ
ɉɪɢ ɤɪɚɬɤɨɜɪɟɦɟɧɧɨɣ ɧɟɯɜɚɬɤɟ ɥɢɤɜɢɞɧɵɯ
ɫɪɟɞɫɬɜ ȼɚɦ ɧɟ ɨɛɹɡɚɬɟɥɶɧɨ ɩɪɨɞɚɜɚɬɶ
ɰɟɧɧɵɟ ɛɭɦɚɝɢ ɫɜɨɟɝɨ ɩɨɪɬɮɟɥɹ. Valartis Bank
(Liechtenstein) AG ɝɨɬɨɜ ɩɪɟɞɨɫɬɚɜɢɬɶ ȼɚɦ
ɤɪɟɞɢɬɧɭɸ ɥɢɧɢɸ ɩɨɞ ɨɛɟɫɩɟɱɟɧɢɟ ȼɚɲɢɦɢ
ɰɟɧɧɵɦɢ ɛɭɦɚɝɚɦɢ. Ʉɚɤ ɫɥɟɞɫɬɜɢɟ, ȼɵ ɦɨɠɟɬɟ
ɩɪɨɞɨɥɠɚɬɶ ɩɨɥɭɱɚɬɶ ɞɨɯɨɞ ɨɬ ɩɨɡɢɬɢɜɧɨɣ
ɞɢɧɚɦɢɤɢ ɪɨɫɬɚ ɫɬɨɢɦɨɫɬɢ ȼɚɲɢɯ ɰɟɧɧɵɯ
ɛɭɦɚɝ, ɚ ɬɚɤɠɟ ɫɷɤɨɧɨɦɢɬɶ ɧɚ ɨɩɟɪɚɰɢɨɧɧɵɯ
ɫɛɨɪɚɯ.
Valartis Bank (Liechtenstein) AG
34
Page 1 of 2
ɈȻɊȺɁȿɐ
ɄɊȿȾɂɌɇɕɃ ȾɈȽɈȼɈɊ
LOAN AGREEMENT
Lombard Loan
Safe-keeping
deposit account: __________________________Account No. ____________________
Borrower
Account
Name
Impulse
Deed
ofTrust
Pledge
300600
Address
The undersigned account holder(s)
Account-No.
10.300.600_0 EUR
_____________________________________________________________________________________
Neustadt 23
_____________________________________________________________________________________
Country
Zip-Code/City
Austria
A-6800 Feldkirch
(as Pledger)
Loan amount
Depending
onassign(s)
the collateral
pledge(s)
and
to (a maximum of): EUR 1’000’000.00
(in words: EURO one million)
Valartis Bank (Liechtenstein) AG
Purpose
the loan
(as
PledgeofHolder)
Liquidity requirements
to secure any claims raised against him/herself/themselves and against
_____________________________________________________________________________________
Term of the loan
Until further notice
all assets and/or credit balances deposited or held at present and in future with the Pledge Holder and
assign(s) these as lien to the Pledge Holder pursuant to Art. 365 ff and 384 ff of the Liechtenstein Law of
Property.
Interest Rate/Interest Adjustment/Interest Payment
1 month
LIBOR/EURIBOR
(rounded off
the nearest of%) Pledge
plus additional
charge of
1,50 % as binding upon
The
Pledger(s)
acknowledge(s)
theto Conditions
Agreement
overleaf
him/herself/themselves and his/her/their legal successor(s).
Currently: 0,25 % + 1,50 % = 1,75 % p.a.
Monthly adjustment of interest rate.
Quaterly payment of interest.
Processing Fee/Loan Commitment Fee
EUR 10’000.00 (one time fee)
Loan Commitment Fee 0,125 % quaterly, calculated on the maximum available credit amount
Collateral
Pledge of Account 300600, corresponding separate Deed of Pledge
See overleaf for Conditions of Pledge Agreement
Valartis Bank (Liechtenstein) AG
35
Page 2 of 2
ɈȻɊȺɁȿɐ
ɄɊȿȾɂɌɇɕɃ ȾɈȽɈȼɈɊ
Termination
Possible by either party without any noti¿cation.
Pledging
Liquidity up to 95 %, Bonds up to 70 %, Shares up to 50 %. If the loan is not currency-congruent with the
collateral, the valuation of the pledged securities/funds may be reduced.
Availability of the loan/Miscellaneous
Upon approval of the loan by the appropriate bodies of the Lender; after duly signing of this Loan Agreement, the
Deed of Pledge and after veri¿cation of the collateral.
The Lender is entitled to call for additional collateral at any time.
The Borrower represents and warrants that he is of good ¿nancial standing and is not in default in any respect in
the performance, observance or ful¿lment of any of the obligations, governance or conditions contained in any
agreement material to its business to which it is a party.
The Borrower represents and warrants that there is no pending or contingent action or proceeding against or
affecting the Borrower before any court, governmental agency or arbitrator, which may, in any single case or in
aggregate, materially adversely affect the ¿nancial condition, operations, properties or business of the Borrower or
its ability to perform its obligation under this Loan Agreement.
The Borrower agrees to pay all obligations concerning taxes, fees and costs, etc. whatever nature there might
be.
If the Borrower is a legal entity, t he undersigning declares that this borrowing is based on a decision of the legal
body of the entity and does not violate its statutes.
For this Loan Agreement the general terms and conditions and the particular terms and conditions of Valartis
Bank (Liechtenstein) AG are binding.
This Loan Agreement shall be governed by the laws of Liechtenstein. Competent court is Vaduz.
The Borrower declares that he agrees to all terms of this Loan Agreement.
Lender
Borrower
Gamprin-Bendern, 30.09.2013
Gamprin-Bendern, 30.09.2013
Valartis Bank
((Liechtenstein)) AG
Impulse
e Trust
Dr. Andreas
s Insam
Insam
Lackin
ng
Dr. Gerhard Lackinger
CEO
MOB
Valartis Bank (Liechtenstein) AG
3
Page 1 of 2
ɈȻɊȺɁȿɐ
Ɉɛɹɡɚɬɟɥɶɫɬɜɨ ɩɨ ɡɚɥɨɝɭ
ɞɜɢɠɢɦɨɝɨ ɢɦɭɳɟɫɬɜɚ
Impulse Trust
30000
Safe-keeping deposit account: __________________________Account
No. ____________________
Deed of Pledge
The undersigned account holder(s)
Impulse Trust, 1eustadt 23, 800 Feldkirch, gsterreich
_____________________________________________________________________________________
_____________________________________________________________________________________
(as Pledger)
pledge(s) and assign(s) to
Valartis Bank (Liechtenstein) AG
(as Pledge Holder)
to secure any claims raised against him/herself/themselves and against
_____________________________________________________________________________________
all assets and/or credit balances deposited or held at present and in future with the Pledge Holder and
assign(s) these as lien to the Pledge Holder pursuant to Art. 365 ff and 384 ff of the Liechtenstein Law of
Property.
The Pledger(s) acknowledge(s) the Conditions of Pledge Agreement overleaf as binding upon
him/herself/themselves and his/her/their legal successor(s).
See overleaf for Conditions of Pledge Agreement
26E-0210
Valartis Bank (Liechtenstein) AG
37
Page 2 of 2
ɈȻɊȺɁȿɐ
Ɉɛɹɡɚɬɟɥɶɫɬɜɨ ɩɨ ɡɚɥɨɝɭ
ɞɜɢɠɢɦɨɝɨ ɢɦɭɳɟɫɬɜɚ
Conditions of Pledge Agreement
The Pledger(s) declare(s) that he/she/they
has/have taken notice of, and accepted without
reservation, the following conditions of the
pledged
collateral
with
Valartis
Bank
(Liechtenstein) AG (hereinafter to be referred to
as the Bank).
The Pledge serves to secure all claims against
the Pledger(s) and the debtors as mentioned
overleaf which are due to the Bank upon any
legal
grounds
(capital
claims,
interest,
commissions, costs, guarantees, etc.). The
Pledge also secures future claims by the Bank
against the contracting partner(s).
The Pledge includes the rights and items pledged
together with all past, current and outstanding
yields and incidental rights due (interest,
commissions,
bonus,
subscription
rights,
insurance claims, etc.). Further covered thereby
are all assets or credit balances which the
Pledger(s) shall, in future, hold with the Bank.
The Bank shall be entitled to exercise directly
and independently, without taking any legal
action, the rights and incidental rights deriving
from the pledged items. At the Bank’s request,
the Pledger(s) undertake(s) to execute any
endorsement or deed of assignment regarding
the pledged items.
If pledged items are exchanged or replaced, the
new pledges shall automatically replace the
previously pledged items.
In the event of changes (termination, redemption,
repayment, etc.) regarding the pledged items, it
shall be the responsibility of the Pledger(s)
him/herself/themselves to safeguard his/her/their
interests.
30.09.2013
________________________________________
Date
The Bank’s management of the pledged items
and its liability regarding these items shall be
pursuant to the General Conditions concerning
free client safe-keeping deposit accounts.
If the value of the pledged items is no longer
suf¿cient to cover the Bank’s claims, the
Pledger(s) shall be obliged, at the Bank’s
request, to provide additional security or to make
a respective payment, or the claims thus secured
shall be deemed due immediately and the Bank
shall be entitled, without taking legal steps, to
draw on the pledged items to satisfy its claim. If
securities quoted on the stock exchange are
involved, the Bank shall, in urgent cases and
without prior noti¿cation, be entitled to dispose of
or withhold the securities as soon as the lending
margin has dropped considerably below the ¿xed
limit. No claims may be raised against the Bank
on account of any such measures.
The Bank, for its part, undertakes to return the
pledged rights and items to the Pledger(s) as
soon as all secured claims have been answered.
No oral agreements have been made beyond the
present statement of conditions. Future
amendments to or extensions of the Conditions
of Pledge shall require the written form.
The loan agreement made with the Bank forms
an integral part of this Deed of Pledge. The
relevant provisions of the Liechtenstein Law of
Property, further laws as well as the General
Conditions and regulations, etc., of the Bank
constitute complementary elements to the agreed
hereunder.
The present pledge agreement is subject to the
exclusive jurisdiction of the Principality of
Liechtenstein. The agreed venue is Vaduz but
the Bank is entitled to assert its contractual rights
before any competent court.
Impulse Trust
________________________________________
Signature(s) of the Pledger(s)
26E-0210
Valartis Bank (Liechtenstein) AG
38
6. Valartis Group AG
Ʉɨɬɢɪɭɸɳɢɣɫɹ ɧɚ ɛɢɪɠɟ, ɦɟɠɞɭɧɚɪɨɞɧɨɨɪɢɟɧɬɢɪɨɜɚɧɧɵɣ ɮɢɧɚɧɫɨɜɵɣ ɤɨɧɰɟɪɧ
Ƚɪɭɩɩɚ Valartis – ɷɬɨ ɲɜɟɣɰɚɪɫɤɚɹ ɛɚɧɤɨɜɫɤɚɹ
ɝɪɭɩɩɚ, ɡɚɧɢɦɚɸɳɚɹɫɹ, ɜ ɨɫɧɨɜɧɨɦ, ɢɧɞɢɜɢɞɭɚɥɶɧɵɦ ɛɚɧɤɨɜɫɤɢɦ ɨɛɫɥɭɠɢɜɚɧɢɟɦ ɱɚɫɬɧɨɝɨ ɤɚɩɢɬɚɥɚ, ɚ ɬɚɤɠɟ ɨɫɭɳɟɫɬɜɥɹɸɳɢɣ ɞɟɹɬɟɥɶɧɨɫɬɶ ɜ ɨɛɥɚɫɬɢ ɭɩɪɚɜɥɟɧɢɹ ɚɤɬɢɜɚɦɢ ɢ
ɩɪɟɞɨɫɬɚɜɥɟɧɢɹ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɛɚɧɤɨɜɫɤɢɯ
ɭɫɥɭɝ. ɇɚɪɹɞɭ ɫ ɭɩɪɚɜɥɟɧɢɟɦ ɢɦɭɳɟɫɬɜɨɦ
ɢ ɢɧɜɟɫɬɢɰɢɨɧɧɵɦ ɤɨɧɫɚɥɬɢɧɝɨɦ ɫɨɫɬɨɹɬɟɥɶɧɵɯ ɱɚɫɬɧɵɯ ɥɢɰ ɢ ɢɧɫɬɢɬɭɰɢɨɧɚɥɶɧɵɯ
ɤɥɢɟɧɬɨɜ, Ƚɪɭɩɩɚ Valartis ɬɚɤɠɟ ɭɞɟɥɹɟɬ
ɜɧɢɦɚɧɢɟ ɪɚɡɪɚɛɨɬɤɟ ɢ ɭɩɪɚɜɥɟɧɢɸ ɢɧɧɨɜɚɰɢɨɧɧɵɦɢ ɩɪɨɞɭɤɬɚɦɢ ɞɥɹ ɨɩɪɟɞɟɥɟɧɧɨɣ
ɧɢɲɢ ɢɧɜɟɫɬɢɰɢɨɧɧɨɝɨ ɪɵɧɤɚ, ɩɪɟɞɨɫɬɚɜɥɹɟɬ
ɪɚɡɥɢɱɧɵɟ ɤɨɧɫɭɥɶɬɚɰɢɨɧɧɵɟ ɢ ɛɚɧɤɨɜɫɤɢɟ
ɭɫɥɭɝ. Ɉɤɨɥɨ 400 ɫɨɬɪɭɞɧɢɤɨɜ Ƚɪɭɩɩɵ ɜ ɐɸɪɢɯɟ, ɀɟɧɟɜɟ, ȼɟɧɟ, Ʌɢɯɬɟɧɲɬɟɣɧɟ, Ɇɨɫɤɜɟ,
ɋɚɧɤɬ-ɉɟɬɟɪɛɭɪɝɟ ɢ Ʌɸɤɫɟɦɛɭɪɝɟ ɨɛɫɥɭɠɢɜɚɸɬ ɢɦɭɳɟɫɬɜɨ ɫɬɨɢɦɨɫɬɶɸ ɩɨɪɹɞɤɚ ,3 ɦɥɪɞ.
ɲɜ. ɮɪɚɧɤɨɜ. Ⱥɤɰɢɢ ɯɨɥɞɢɧɝɨɜɨɣ ɤɨɦɩɚɧɢɢ
Ƚɪɭɩɩɵ, Valartis Group AG, Ȼɚɚɪ, ɤɨɬɢɪɭɸɬɫɹ
ɧɚ ɒɜɟɣɰɚɪɫɤɨɣ ɮɨɧɞɨɜɨɣ ɛɢɪɠɟ SI; ɢ ɩɪɢɧɚɞɥɟɠɚɬ, ɛɨɥɶɲɟɣ ɱɚɫɬɶɸ, ɤɨɦɩɚɧɢɢ MCG
Holding AG, Ȼɚɚɪ. əɜɥɹɹɫɶ ɲɜɟɣɰɚɪɫɤɢɦ
ɛɚɧɤɨɜɫɤɢɦ ɤɨɧɰɟɪɧɨɦ, Valartis Group AG
ɧɚɯɨɞɢɬɫɹ ɩɨɞ ɤɨɧɫɨɥɢɞɢɪɨɜɚɧɧɵɦ ɧɚɞɡɨɪɨɦ
ɲɜɟɣɰɚɪɫɤɢɯ ɨɪɝɚɧɨɜ, ɨɫɭɳɟɫɬɜɥɹɸɳɢɯ ɤɨɧɬɪɨɥɶ ɧɚɞ ɮɢɧɚɧɫɨɜɵɦɢ ɪɵɧɤɚɦɢ.
Ɉɫɧɨɜɧɚɹ ɰɟɥɶ ± ɛɚɧɤɨɜɫɤɨɟ ɨɛɫɥɭɠɢɜɚɧɢɟ ɱɚɫɬɧɨɝɨ ɤɚɩɢɬɚɥɚ (Private Banking)
ɋɬɪɚɬɟɝɢɹ ɷɤɨɧɨɦɢɱɟɫɤɨɝɨ ɪɨɫɬɚ Ƚɪɭɩɩɵ
ɨɪɢɟɧɬɢɪɨɜɚɧɚ ɧɚ ɪɚɡɜɢɬɢɟ ɛɚɧɤɨɜɫɤɨɝɨ ɨɛɫɥɭɠɢɜɚɧɢɹ ɱɚɫɬɧɨɝɨ ɤɚɩɢɬɚɥɚ. ȼ ɷɬɨɣ ɫɜɹɡɢ
ɨɫɨɛɨɟ ɜɧɢɦɚɧɢɟ ɭɞɟɥɹɟɬɫɹ ɩɨɞɝɨɬɨɜɤɟ ɢ
ɩɪɨɞɚɠɟ ɢɧɜɟɫɬɢɰɢɨɧɧɵɯ ɩɪɨɞɭɤɬɨɜ Ƚɪɭɩɩɵ
ɜ ɨɛɥɚɫɬɢ ɭɩɪɚɜɥɟɧɢɹ ɚɤɬɢɜɚɦɢ – ɢ ɜ ɩɟɪɜɭɸ
ɨɱɟɪɟɞɶ ɡɞɟɫɶ ɧɭɠɧɨ ɜɵɞɟɥɢɬɶ ɮɨɧɞɵ
Russian Market Fund ɢ Swiss Small Mid Cap
Fund.
ɇɚɞɟɠɧɵɣ ɢ ɮɢɧɚɧɫɨɜɨ ɫɨɫɬɨɹɬɟɥɶɧɵɣ
ɉɪɨɞɨɥɠɢɬɟɥɶɧɵɣ ɭɫɩɟɯ ɜ ɨɛɥɚɫɬɢ ɭɩɪɚɜɥɟɧɢɹ ɢɦɭɳɟɫɬɜɨɦ ɢ ɤɨɧɫɭɥɶɬɢɪɨɜɚɧɢɹ ɡɚɜɢɫɢɬ
ɨɬ ɤɨɦɩɟɬɟɧɬɧɨɫɬɢ ɢ ɨɩɵɬɚ ɫɨɬɪɭɞɧɢɤɨɜ, ɚ
ɬɚɤɠɟ, ɜ ɡɧɚɱɢɬɟɥɶɧɨɣ ɫɬɟɩɟɧɢ, ɨɬ ɜɟɪɵ ɜ
ɧɚɞɟɠɧɨɫɬɶ ɢ ɮɢɧɚɧɫɨɜɭɸ ɫɨɫɬɨɹɬɟɥɶɧɨɫɬɶ
ɢɧɫɬɢɬɭɬɚ. ɇɚ ɩɪɨɬɹɠɟɧɢɢ ɦɧɨɝɢɯ ɥɟɬ ɭɪɨɜɟɧɶ ɮɢɧɚɧɫɢɪɨɜɚɧɢɹ ɡɚ ɫɱɟɬ ɫɨɛɫɬɜɟɧɧɵɯ
ɫɪɟɞɫɬɜ Ƚɪɭɩɩɵ ɛɵɥ ɜɵɲɟ ɫɪɟɞɧɟɝɨ ɫɪɟɞɢ
ɲɜɟɣɰɚɪɫɤɢɯ ɛɚɧɤɨɜ, ɱɬɨ ɨɡɧɚɱɚɟɬ ɫɨɥɢɞɧɭɸ
ɤɚɩɢɬɚɥɶɧɭɸ ɨɫɧɨɜɭ.
Valartis Bank (Liechtenstein) AG
Valartis Bank (Liechtenstein) AG ±
ɫɬɪɭɤɬɭɪɚ ɫɨɛɫɬɜɟɧɧɢɤɨɜ
ȼɟɫɶ ɤɚɩɢɬɚɥ Valartis Bank (Liechtenstein) AG
ɩɨɥɧɨɫɬɶɸ ɨɩɥɚɱɟɧ ɜ ɪɚɡɦɟɪɟ 20 ɦɢɥɥɢɨɧɨɜ
ɲɜ.ɮɪɚɧɤɨɜ, ɢɡ ɤɨɬɨɪɵɯ ɚɤɰɢɢ ɫ ɩɪɚɜɨɦ ɝɨɥɨɫɚ ɫɨɫɬɚɜɥɹɸɬ 13, ɦɢɥɥɢɨɧɨɜ ɲɜ.ɮɪɚɧɤɨɜ,
ɚ ɫɟɪɬɢɮɢɤɚɬɵ ɞɨɥɟɜɨɝɨ ɭɱɚɫɬɢɹ ɫɨɫɬɚɜɥɹɸɬ
,4 ɦɢɥɥɢɨɧɚ ɲɜ.ɮɪɚɧɤɨɜ. 89% ɩɪɚɜ ɝɨɥɨɫɚ
ɢ 70% ɩɪɚɜ ɭɱɚɫɬɢɹ ɜ ɤɚɩɢɬɚɥɟ ɩɪɢɧɚɞɥɟɠɚɬ
Valartis Bank AG, Ȼɚɚɪ. 30% ɩɪɚɜ ɭɱɚɫɬɢɹ ɜ
ɤɚɩɢɬɚɥɟ ɩɪɢɧɚɞɥɟɠɢɬ ɩɪɚɜɥɟɧɢɸ ɢ ɫɨɬɪɭɞɧɢɤɚɦ.
ɋɬɪɭɤɬɭɪɚ ɭɱɚɫɬɢɹ Valartis Group AG
Ⱦɨɥɹ ɚɤɰɢɣ,
ɧɚɯɨɞɹɳɚɹɫɹ
ɜ ɫɜɨɛɨɞɧɨɦ
ɨɛɪɚɳɟɧɢɢ
MCG Holding SA,
Ȼɚɚɪ
Valartis Group AG, Ȼɚɚɪ / ɐɭɝ
ɤɨɬɢɪɭɟɬɫɹ ɧɚ ɒɜɟɣɰɚɪɫɤɨɣ ɮɨɧɞɨɜɨɣ
ɛɢɪɠɟ SI;
Valartis Bank (Ⱥɜɫɬɪɢɹ) AG, ȼɟɧɚ
www.valartisbank.at
Valartis Bank (Liechtenstein) AG
www.valartisbank.li
39
CH
†
FL
Bendern
Schaaner Strasse 27
9487 Gamprin-Bendern
Fürstentum Liechtenstein
A
Feldkirch
Ɋɟɞɚɤɰɢɹ
Dr. INSAM Andreas, CEO
Dr. LACKINGER Gerhard, Mag., MOB
ABLASSER Sandra, BA, Account Opening
AYAZ Ercan, Mag., International Sales, Asia
BADER Peter, Mag., Institutional Clients
BÁNFI Dóra, International Sales
BASCHNEGGER Karin, BA, Assistant to the Board
BILGIN Adnan, Asset Management
BOUKAL Robert, MBA,
Private Clients, Slovakia & Czech Republic
CELETKA Attila, Dipl.-Ing.,
Private Clients, Slovakia & Czech Republic
DEI-MICHEI Claudia, Mag.iur., Compliance & Legal Department
DELAVIER Matthias, International Sales
DZIURA Marcin, International Sales, Ukraine
EMER Metin, BBA, International Sales, Middle East & Turkey
EMERING Carole, Payment Transaction
FÄHNDRICH Kevin, Trading
Dr. FEDERSPIEL Markus, Mag.,
Institutional Clients, Central Europe
FEIX Alexander, Mag.,
Private Clients, Middle & Western Europe
FLEISCH Katharina, BA, Institutional Clients,
Western Europe & Central America
FRAUENKNECHT Chris, Trading
FRITZ Mechtild, Payment Transaction
GANAHL Barbara, Reception
GAO Yun, International Sales, Asia
GATT Martina, Mag., Institutional Clients,
Western Europe & Central America
GÖTZE Martin, Mag., Instituional Clients, Central Europe
GRABHER Katharina, Marketing
GSTACH Günter, LL.M., Loans
GULUA Beniamin, Mag., Institutional Clients, Eastern Europe
HETZENECKER Fritz,
Private Clients, Middle & Western Europe
HUBER Rolf, Information Technology
JAUG Sanja, B.Sc., Private Clients, Central Europe
KAS Sena, Payment Transactions
KAYAR Canan, Mag., International Sales, Middle East & Turkey
KIENCKE Dirk, Custodian Investment Funds
KLEINGÜNTHER Julia, Institutional Clients, Domestic Market
LOOSE Holger, International Sales, Russia & South America
LUDESCHER Anzhelika, International Sales, Ukraine
LUO Fang, International Sales, Asia
LURINA-RÜEGG Sanita, Reception
MARCIELLO Pasquale, CIIA, CIWM, Asset Management
MARTE Julia, Accounting & Controlling
Dr. MARTIN-GRASS Gabriele, MMag. (FH),
Compliance & Legal Department
MELAY Ivan, MSc, International Sales, Czech Republic
MOXON Chester, Information Technology
MUNGAN Ümmühan, MMag.,
International Sales, Middle East & Turkey
MUSTER Markus, MSc, Information Technology
OGORODNICIUK Aliona, Institutional Clients, Eastern Europe
OUSCHAN Isabel, MMag., Instituional Clients, Central Europe
PAPIRTYTE Agne, MSc, Institutional Clients, Eastern Europe
PÖSCHL Markus, Mag.iur., Compliance & Legal Departement
RATZ Stefan, Dipl.-Bw. (BA), Institutional Clients,
Domestic Market
REICHART Norbert, Private Clients, Central Europe
RHOMBERG Manuela, Reception
ROSENBOOM Tatjana, International Sales, Czech Republic
RUMPL Simone, Account Opening
SAMBORA Pawel, M.A., International Sales, Czech Republic
SPALT Tobias, MSc, Private Clients, Central Europe
STIER Stefan, Ass.jur., Compliance & Legal Departement
THALER Ramona, Payment Transaction
THÖNY Isabella, Assistant to the Board
UNTERKIRCHER Markus, Information Technology
USEINI Serif, Settlement
VEDUNOVA Julia, Mag., Institutional Clients, Eastern Europe
VOLGGER Andreas, Settlement
VUSER Darko, B.Sc.Econ, Private Clients, Central Europe
WALK Monika, Payment Transaction
WALSER Alexandra, Mag., Loans
WELTE Markus, Information Technology
WERLE Bettina, Account Opening
WILFLING Simone, MMag., Institutional Clients
ZAJAC Peter, Mag., Institutional Clients, Eastern Europe
ZANINI Silvia, Mag., Private Clients, Middle & Western Europe
ZIMMERMANN Desiree, Compliance & Legal Department
ɂɦɩɪɟɫɫɭɦ
Valartis Bank (Liechtenstein) AG
Schaaner Strasse 27
9487 Gamprin-Bendern
Frstentum Liechtenstein
Phone 423 25 5 5
Fax 423 25 5 99
Ⱦɨɩɨɥɧɢɬɟɥɶɧɚɹ ɢɧɮɨɪɦɚɰɢɹ ɩɭɛɥɢɤɭɟɬɫɹ ɜ
ɢɧɬɟɪɧɟɬɟ ɧɚ ɫɚɣɬɟ www.valartisbank.li.
Valartis Bank (Liechtenstein) AG
40
Valartis Bank (Liechtenstein) AG
03/2014
ɡɚɦɟɬɤɢ