Lux Wealth SICAV-UCITS

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1 Lux Wealth SICAV-UCITS - Equity Brazil Fund R.C.S. B Audited Annual Report as at December 31, 2014 An investment company with variable capital (SICAV) in accordance with Part I of the Law on undertakings for collective investment of December 17, 2010

2 Audited Annual Report as at December 31, 2014 Contents Management and Organization 2 Report on business activity 4 Report of the Réviseur d Entreprises agréé 6 Statement of net assets as at December 31, Statement of changes in net assets for the year from January 1, 2014 to December 31, Changes in number of shares in issue 8 Statement of operations for the year from January 1, 2014 to December 31, Statement of Investments as at December 31, 2014 Lux Wealth SICAV-UCITS - Equity Brazil Fund 9 Notes to the Audited Annual Report for the year from January 1, 2014 to December 31, Development of Net Asset Value 13 General Information for the Investors 13 Publication of tax basis in accordance with Article 5 InvStG 14 Subscriptions can be accepted only on the basis of the valid Sales Prospectus (with annexes), the Articles of Association and the Key Investor Information Document together with the most recent Annual Report and, if the latter was published more than eight months ago, the most recent Semi-Annual Report. Copyright: VPB Finance S.A. (2015). All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of VPB Finance S.A. Production: KNEIP ( 2

3 Management and Organization Investment Company: Lux Wealth SICAV-UCITS 26, Avenue de la Liberté L-1930 Board of Directors: Chairman: Lirio Albino Parisotto Av. Paulista, andar CEP: São Paulo SP Members of the Board of Directors: Francesco Fico Lux Capital Fund Management S.à r.l. 1, Boulevard de la Foire L-1528 until February 17, 2014: Simone Russo Lux Capital Fund Management S.à r.l. 1, Boulevard de la Foire L-1528 David Marconi Lux Capital Fund Management S.à r.l. 1, Boulevard de la Foire L-1528 Carlo Mereghetti Lux Capital Fund Management S.à r.l. 1, Boulevard de la Foire L-1528 Management Company: VPB Finance S.A. 26, Avenue de la Liberté L-1930 Portfolio Manager: GF Gestao de Recursos S.A. Praça XV de Novembro, 20, 12o andar, Rio de Janeiro, RJ, CEP Brazil Board of Directors of the Management Company: since June 16, 2014: Christoph Mauchle Chairman of the Board of Directors (since July 24, 2014) Member of the Management Committee VP Bank AG, Vaduz Romain Moebus Vice-Chairman of the Board of Directors (since July 24, 2014) Member of the Management Committee VP Bank () SA, until September 30, 2014: Jos Wautraets Member of the Board of Directors Member of the Management Committee VPB Finance S.A., since July 1, 2014 until December 6, 2014: Rolf Diderrich Member of the Board of Directors Executive Director VPB Finance S.A., since June 16, 2014: Ralf Funk Member of the Board of Directors Executive Director VPB Finance S.A., until June 30, 2014: Enrico Mela Member of the Board of Directors Chairman of the Management Committee VPB Finance S.A., until May 20, 2014: Joachim Kuske Member of the Board of Directors Member of the Management Committee VPB Finance S.A., until March 17, 2014: Yves de Vos Member of the Board of Directors Chairman of the Management Committee VP Bank () SA, since January 1, 2015: Eduard von Kymmel Member of the Board of Directors Member of the Management Committee VPB Finance S.A., 2

4 Management and Organization (continued) Members of the Management Board of the Management Company: Rolf Diderrich (since July 1, 2014 until December 31, 2014) Ralf Funk Jos Wautraets (until September 30, 2014) Enrico Mela (until June 30, 2014) Joachim Kuske (until June 14, 2014) Eduard von Kymmel (since January 1, 2015) Custodian Bank and Paying Agent: VP Bank () SA 26, Avenue de la Liberté L-1930 Registrar and Transfer Agent: VPB Finance S.A. 26, Avenue de la Liberté L-1930 Representative in Switzerland: ACOLIN Fund Services AG Stadelhoferstrasse 18 CH-8001 Zurich Paying Agent in Switzerland: NPB Neue Privat Bank AG Limmatquai 1/am Bellevue CH-8022 Zurich Auditors: KPMG, Société coopérative 39, Avenue John F. Kennedy L-1855 Legal Advisers: Arendt & Medernach Avocats 14, rue Erasme L

5 Report on business activity General Information: Lux Wealth SICAV-UCITS is an investment company with variable capital, a Société d Investissement à Capital Variable ( SICAV ), hereinafter referred to as the company or fund, which was launched on March 9, 2012 under law based on Part I of the Law of December 17, 2010 on undertakings for collective investment (loi du 17 décembre 2010 relative aux organismes de placement collectif, partie I.) and pursuant to the requirements of Directive 2009/65/EC of the European Parliament and of the Council of July 13, 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS). According to the fund prospectus at least 80% of the fund s total assets should be invested in equities that are mainly listed in the IBovespa, but the fund can also invest in companies incorporated under the laws of, and have their registered office in, Brazil, or that derive the predominant part of their economic activity from Brazil, even if listed elsewhere. The benchmark or reference portfolio for the Sub-Fund Lux Wealth SICAV-UCITS Equity Brazil Fund is the index IBovespa (ISIN: BRIBOVINDM18). Since inception, the Sub-fund was invested for more than 80% of the NAV in companies of the IBovespa with a portfolio concentrated in proximately 16 to 25 companies. Key Facts Fund Manager: GF Gestao de Recursos S.A. Location: Sao Paulo, Brazil Fund Domicile: Fund Currency: EUR Currency Hedged: No Inception Date: ISIN Code: LU Min Investment: None Benchmark: IBovespa Fund Highlights as of December 31, 2014: Performances: Since Launch 1 Month 3 Month Fund % -4.51% % Benchmark % -5.33% % Fund Volatility 23.49% Benchmark Volatility 28.57% Sectors Allocation: Financial 28.10% Consumer, Non-cyclical 23.80% Utilities 20.47% Basic Materials 13.50% Diversified 5.21% Cash 9.09% Top 5 Holdings Cielo 9.89% Banco do Brasil 8.48% BRF S.A. 5.76% Banco Bradesco 5.44% Itausa Invests Itau PFD 5.21% 4

6 Chart: The information contained in this report relates to historical data and provides no indication of the future development of the Company., April 21,

7 To the Shareholders of Lux Wealth SICAV-UCITS 26, Avenue de la Liberté L-1930 REPORT OF THE RÉVISEUR D ENTREPRISES AGRÉÉ We have audited the accompanying financial statements of Lux Wealth SICAV-UCITS and of its sub-fund, which comprise the statement of net assets and the statement of investments and other net assets as at December 31, 2014 and the statement of operations and the statement of changes in net assets for the year then ended, and a summary of significant accounting policies and other explanatory information. Board of Directors of the SICAV responsibility for the financial statements The Board of Directors of the SICAV is responsible for the preparation and fair presentation of these financial statements in accordance with legal and regulatory requirements relating to the preparation of the financial statements, and for such internal control as the Board of Directors of the SICAV determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Responsibility of the Réviseur d Entreprises agréé Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing as adopted for by the Commission de Surveillance du Secteur Financier. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the judgement of the Réviseur d Entreprises agréé, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the Réviseur d Entreprises agréé considers internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors of the SICAV, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements give a true and fair view of the financial position of Lux Wealth SICAV-UCITS and of its sub-fund as of December 31, 2014, and of the results of its operations and changes in its net assets for the year then ended in accordance with the legal and regulatory requirements relating to the preparation of the financial statements. Other matter Supplementary information included in the annual report has been reviewed in the context of our mandate but has not been subject to specific audit procedures carried out in accordance with the standards described above. Consequently, we express no opinion on such information. However, we have no observation to make concerning such information in the context of the financial statements taken as a whole., April 22, 2015 KPMG, Société coopérative Cabinet de révision agréé J. Roth 6

8 Lux Wealth SICAV-UCITS Lux Wealth SICAV-UCITS - Equity Brazil Fund Statement of net assets as at December 31, 2014 Note ASSETS Investment portfolio at market value Cost Cash held with custodian bank Dividend receivable Formation expenses TOTAL ASSETS (10) (4) LIABILITIES Other liabilities TOTAL LIABILITIES (6) Total net assets EUR 6,076, ,719, , , , ,719, , , ,670, Net assets per fund share Number of fund shares 10, Statement of changes in net assets for the year from January 1, 2014 to December 31, 2014 Note Net assets at the beginning of the year EUR 10,003, Subscriptions 409, Redemptions -2,892, Income Equalization (8) 16, Result for the year (incl. income equalization) -865, NET ASSETS AT THE END OF THE YEAR 6,670, The notes are integral part of the Audited Annual Report. 7

9 Lux Wealth SICAV-UCITS - Equity Brazil Fund Changes in number of shares in issue Shares in issue at the beginning of the year Number of shares subscribed Number of shares redeemed Shares in issue at the end of the year 13, , , Statement of operations for the year from January 1, 2014 to December 31, 2014 Note EUR INCOME Dividends 726, Other income 2, TOTAL INCOME 728, CHARGES Bank interest Management Company fee (3) -29, Portfolio Management fee (3) -136, Performance fee (3) -2, Custodian fee (3) -15, Registrar and Transfer Agent fee -5, Clear streaming fee -12, Risk Management Compensation -5, Amortization of formation expenses (4) -27, Taxe d'abonnement (5) -3, Other charges (7) -92, TOTAL CHARGES -330, Net income 397, Income Equalization (8) -16, Net income (incl. income equalization) 381, Realized profit / loss -344, Net Realized Result (incl. income equalization) 36, Change in net unrealized profit / loss -902, Result for the year (incl. income equalization) -865, The notes are integral part of the Audited Annual Report. 8

10 Lux Wealth SICAV-UCITS - Equity Brazil Fund Statement of Investments as at December 31, 2014 Security Description Quantity / Face value Ccy Cost in EUR Valuation in EUR %-NAV SECURITIES Exchange-traded securities Equities Bermudas Grupo BTG Pactual 33,157 BRL 390, , Total Bermudas 390, , Brazil Banco Bradesco SA 33,556 BRL 407, , Banco do Brasil SA 77,111 BRL 690, , Bradespar SA 74,503 BRL 1,053, , BRF SA 19,617 BRL 269, , CCR SA 64,720 BRL 393, , Cia de Saneamento Basico do Estado de Sao Paulo 45,127 BRL 425, , Cia de Transmissao de Energia Eletrica Paulista 19,726 BRL 472, , Cia Energetica de Minas Gerais 43,612 BRL 582, , Cia Paranaense de Energia 25,578 BRL 467, , Cia Siderurgica Nacional SA 178,326 BRL 1,075, , Cielo SA 51,329 BRL 829, , CPFL Energia SA 32,848 BRL 337, , Eletropaulo Metropolitana Eletricidade de Sao Paulo SA 85,520 BRL 935, , Itau Unibanco Holding SA 30,807 BRL 381, , Itausa - Investimentos Itau SA 119,886 BRL 451, , Natura Cosmeticos SA 24,009 BRL 415, , Ultrapar Participacoes SA 18,758 BRL 320, , Usinas Siderurgicas de Minas Gerais SA 83,873 BRL 369, , Vale SA 27,809 BRL 452, , Total Brazil 10,329, ,788, Total Equities 10,719, ,076, Total Exchange-traded securities 10,719, ,076, TOTAL SECURITIES 10,719, ,076, TOTAL INVESTMENT PORTFOLIO 10,719, ,076, Minor rounding differences may occur due to the rounding of percentages. Details of changes in investments for the period concerned are available, free of charge, at the Company's Head Office or via the Custodian Bank or Paying Agent. 9

11 Notes to the Audited Annual Report for the year from January 1, 2014 to December 31, General Lux Wealth SICAV-UCITS is an investment company with variable capital, a Société d Investissement à Capital Variable ( SICAV ), hereinafter referred to as the company or fund, which was launched on March 9, 2012 under law based on Part I of the Law of December 17, 2010 on undertakings for collective investment (loi du 17 décembre 2010 relative aux organismes de placement collectif, partie I.) and pursuant to the requirements of Directive 2009/65/EC of the European Parliament and of the Council of July 13, 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS). The Lux Wealth SICAV-UCITS was launched as an umbrella fund. Since the Company s business activity related only to the subfund Lux Wealth SICAV-UCITS - Equity Brazil Fund, the subfund s statements of assets represent at the same time the consolidated figures Lux Wealth SICAV-UCITS. The Company s accounting year ends on December 31 each year. 2. Determination of the Net Asset Value per share The net asset value (unit value) is denominated in EUR. The net fund assets of the subfund are calculated based on the following principles: a) The target fund shares contained in a subfund are valued at the last fixed and obtainable redemption price. b) The value of cash holdings or bank balances, certificates of deposit and outstanding receivables, prepaid expenses, cash dividends and declared or accrued interest not yet paid corresponds to the respective full amount, unless this will probably not be fully paid or received, in which case the value is calculated including a suitable deduction in order to arrive at the actual value. c) The value of assets listed or traded at a stock exchange is calculated based on the last available price at the stock exchange which is normally the main market for this security. If a security or other asset is listed on more than one exchange, then the latest sale price used will be that of the exchange or regulated market that is the main market for the asset in question. d) The value of assets traded on another regulated market (corresponding to the definition in section 4 Investment policy and investment limits, point G General guidelines for the investment policy in the prospectus) is calculated on the basis of the last available price. e) If an asset is not listed or traded on a stock exchange or other regulated market or if assets listed or traded at a stock exchange or other market as mentioned earlier for which the prices in accordance with (c) or (d) above do not adequately reflect the actual market value of the corresponding assets, the price of such assets is calculated on the basis of sales prices that are predicted sensibly according to a careful estimate. f) The liquidation value of futures, forwards or options not traded on stock exchanges or other organised markets corresponds to the respective net liquidation value as determined in accordance with the guidelines of the board of directors using a base value applied consistently to all types of contracts. The liquidation value of futures, forwards or options traded at stock exchanges or on other organised markets is determined on the basis of the latest available settlement prices for such contracts on the stock exchanges or organised markets on which these futures, forwards or options are traded by the fund; if a future, forward or option cannot be liquidated on a day for which the net asset value is to be determined, the basis for valuing such a contract shall be determined by the board of directors in an appropriate and reasonable manner. Swaps are valued at their specified market value, including applicable interest. g) Values for money market instruments not listed on an exchange or traded on another regulated market with a remaining term of less than 12 months and more than 90 days are the par values plus the interest accrued. Money market instruments with a remaining term of up to 90 days are calculated on the basis of the amortisation costs corresponding to the approximate market value. h) All other securities or other assets are valued at their reasonable market value, determined in good faith and according to the procedures set out by the company. 10

12 2. Determination of the Net Asset Value per share (continued) All assets in currencies other than the currency of the subfund are converted to the subfund currency at the last available average rate. The board of directors may at its own discretion allow other valuation methods if it considers this to be advisable to secure a more appropriate valuation of an asset in the fund. The net subfund assets are presented in financial reports individually and also in consolidated form. Consolidation is performed in EUR. An income adjustment can be calculated for each subfund. If extraordinary circumstances arise which make a valuation in accordance with the above criteria impossible or improper then the company is authorised to use other valuation rules, which are set down in good faith, are generally recognised and auditable by auditors, in order to achieve a proper valuation of the subfund assets. In the case of extensive redemption applications which cannot be met from the liquid funds and permissible raising of credit by the fund, the company can determine the net asset value by using the prices of the valuation day on which it sold the securities for the fund which had to be sold according to the situation. In this case, the same calculation method will be applied for subscription and redemption applications submitted simultaneously. 3. Fees Expenses and costs of the subfund: 1. The management company is paid an administration fee of max. 0.22% of the subfund assets but at least EUR 2, per month, calculated and paid monthly in arrears on the average net subfund assets of each month, plus the statutory value added tax where applicable. 2. The portfolio manager receives a fee of 1.75% p.a. of the subfund assets, which is calculated and payable monthly in arrears on the average net fund assets, plus any statutory value added tax applicable. In addition to the fixed fee the portfolio manager receives an additional performance-related payment (hereinafter Performance Fee ) to the extent that the value of the subfund s net assets appreciate in excess of the IBOVESPA INDEX (ISIN BRIBOVINDM18) (the benchmark ). The performance fee amounts up to 10.00% of the outperformance the subfund s asset value in excess of the benchmark. The Performance Fee is charged to the subfund s assets and is paid at the end of a calculation period. The calculation period is (based on) one quarter-year. Asset value appreciation is determined on the basis of the performance of share values, which is based on the net value of the subfund s assets. Performance fees are applicable provided the share price at the end of a calculation period has outperformed the benchmark during that period. The Performance Fee will be calculated and accrued on each Valuation Day. 3. The custodian bank and transfer agent and registrar have a claim on the fund assets for the fees which have been agreed with the management company; these must not exceed the following upper limits: - a fee amounting to not more than 0.10% p.a. for carrying out custodian bank duties and for the safekeeping of fund assets; this is to be calculated and paid monthly in arrears on the basis of the average net fund assets per month, not less than EUR 1, per month, plus any statutory value added tax; - the register and transfer agent invoice the Company for the duties EUR 5, p.a.; - a fee for processing transactions for the account of the fund; - reimbursement for the bank charges advanced by it and a handling fee for extraordinary services which do not normally arise during the ordinary course of business. 4. Formation expenses The formation costs are initially borne by the management company which then charges them on a pro rata basis to the respective subfund assets during the first abridged financial year (unless the costs were incurred by a particular subfund). Formation costs can be written down over a period of not more than four years. 11

13 5. Taxation The assets of each subfund are currently subject to a taxe d abonnement in the Grand Duchy of of 0.05% annually or 0.01% payable quarterly on the net fund assets declared at the end of each quarter. The company assets are not subject to any other income or property tax in. The income from the investment of the subfund assets may, however, be subject to withholding taxes in countries in which the subfund assets are invested. Neither the company nor the custodian bank will collect receipts for such withholding taxes for individuals or all shareholders. In accordance with the provisions of the EU Directive on the taxation of interest (the EU Savings Tax Directive ) which came into force on July 1, 2005, it cannot be ruled out that in certain cases or certain countries a withholding tax will be raised if a paying agent makes a payment of dividends and redemption of shares in the fund and the beneficiary of this money is a natural person who is resident in another EU state. The withholding tax rate for these dividends and redemptions is 35.00% unless the individual affected applies expressly to be subject to the exchange-of-information system outlined in the Directive. Interested parties should familiarise themselves with and, if necessary, seek advice on the laws and regulations which are applied in their place of residence for the subscription, purchase, possession and sale of shares. 6. Other Liabilities The item Other liabilities contains expenses of the current financial period which have not yet been paid. These are inter alia taxe d abonnement, Audit fees, Custodian fees, Performance fee, Registrar- and Transfer Agent fee, Portfolio Management fee, Risk Management Compensation and Management Company fees. 7. Other charges The item Other charges includes among others the auditing fees, the publication fees and the fees for the regulatory authorities. 8. Income equalization Income equalization are applied to net income. An income equalization is the cumulative value of the ordinary net income during the year which is included in the issue price when the shareholder purchases shares and is refunded in the redemption price upon the sale of shares. 9. Exchange Rate The following middle-market rate of exchange as at the balance sheet date was used for the conversion of all assets denominated in currencies other than the Euro: Brazilian Real (BRL) 1 = EUR 10. Bank deposits/liabilities The deposits/liabilities held with the Custodian Bank at the balance sheet date were as follows: Cash at bank / liabilities in currency Currency Equivalent in Euro 2,352, BRL 726, , EUR -119, Total 606, Risk Management Value at Risk (VaR) Risk measurement to determine aggregate risk is performed using the qualified approach by calculating the relative or absolute Value at Risk (VaR) using the historical simulation method. The Value at Risk concept is a statistical method used to calculate the potential loss caused by price changes in a portfolio. The Value at Risk indicates the statistically expected maximum loss which is not exceeded over a predetermined holding period with a specific probability. 12

14 11. Risk Management (continued) The Value at Risk (VaR) was calculated over an actual history of 500 trading days with a confidence level of 99% and an assumed holding period of 20 working days. The relative VaR approach is used for the Fund. A relative Value of 200% is used as limit to the VaR of the reference portfolio. The benchmark or reference portfolio for the Sub-Fund Lux Wealth SICAV-UCITS - Equity Brazil Fund is the index IBovespa (ISIN BRIBOVINDM18). The VaR-utilisation in relation to this 200%-limit had the following values during the period under review (January 1, 2014 to December 31, 2014): Fund name: minimum maximum average VaR in % VaR in % VaR in % Lux Wealth SICAV-UCITS - Equity Brazil Fund During the period from January 1, 2014 to December 31, 2014 the average leverage was (Sum of notionals): 0.98 The leverage is determined in relation to the net asset value. A leverage of 0 is to be regarded as an unleveraged portfolio. Further key figures Total Expense Ratio (TER): 4.24% (thereof percentage performance fee: 0.03%) Portfolio-Turnover-Rate (PTR): % Total transaction costs over the financial period: EUR 11, Development of Net Asset Value Net Assets Net Assets per share Lux Wealth SICAV-UCITS - Equity Brazil Fund December 31, 2012 EUR 29,884, EUR December 31, 2013 EUR 10,003, EUR December 31, 2014 EUR 6,670, EUR General Information for the Investors Additional Information Redemptions of fund shares are to be made only on the basis of the current Sales Prospectus and the Articles of Association supplemented by the latest available Annual Report and by the latest unaudited Semi-Annual Report if published thereafter. The redemption price is calculated by dividing the net assets (the entire assets of the Fund after deduction of liabilities) by the number of total shares issued at the valuation date. The following documents can be perused at the registered office of the company as well as at all paying agents during normal office hours or requested free of charge: a) the company s articles of association; b) agreements concluded in connection with the fund (Custodian Bank and Paying Agent Agreement, Supplementary, Investment Management and Management Company Service Agreement); c) the full sales prospectus; d) the KIID; e) the Annual and the Semi Annual reports of the fund. 13

15 Veröffentlichung der Besteuerungsgrundlagen gemäß 5 InvStG vom 1. Januar 2014 bis 31. Dezember 2014 für den Investmentfonds: Lux Wealth SICAV-UCITS - Equity Brazil Fund Privat- betriebl. betriebl. A1JTCA anleger Anleger Anleger LU (KStG) (EStG) EUR EUR EUR a) Betrag der Ausschüttung 0,0000 0,0000 0,0000 aa) in der Ausschüttung enthaltene ausschüttungsgleiche Erträge der Vorjahre 0,0000 0,0000 0,0000 bb) in der Ausschüttung enthaltene Substanzbeträge 0,0000 0,0000 0,0000 b) Betrag der ausgeschütteten Erträge 0,0000 0,0000 0, (1) Nr. 2 Betrag der ausschüttungsgleichen Erträge 45, , , (1) Nr. 1 die in den ausgeschütteten bzw. ausschüttungsgleichen Erträgen enthaltenen c) aa) Erträge im Sinne des 2 Absatz 2 Satz 1 dieses Gesetzes in Verbindung mit 3 Nummer 40 des Einkommensteuergesetzes oder im Fall des 16 dieses Gesetzes in Verbindung mit 8b Absatz 1 des Körperschaftsteuergesetzes* --- 0, ,7918 c) bb) Veräußerungsgewinne im Sinne des 2 Absatz 2 Satz 2 dieses Gesetzes in Verbindung mit 8b Absatz 2 des Körperschaftsteuergesetzes oder 3 Nummer 40 des Einkommensteuergesetzes* --- 0,0000 0,0000 c) cc) Erträge im Sinne des 2 Absatz 2a --- 0,0000 0,0000 c) dd) steuerfreie Veräußerungsgewinne im Sinne des 2 Absatz 3 Nummer 1 Satz 1 in der am 31. Dezember 2008 anzuwendenden Fassung 0, c) ee) Erträge im Sinne des 2 Absatz 3 Nummer 1 Satz 2 in der am 31. Dezember 2008 anzuwendenden Fassung, soweit die Erträge nicht Kapitalerträge im Sinne des 20 des Einkommensteuergesetzes sind 0, c) ff) steuerfreie Veräußerungsgewinne im Sinne des 2 Absatz 3 in der ab 1. Januar 2009 anzuwendenden Fassung 0, c) gg) Einkünfte im Sinne des 4 Absatz 1 0,0000 0,0000 0,0000 c) hh) in Doppelbuchstabe gg enthaltene Einkünfte, die nicht dem Progressionsvorbehalt unterliegen ,0000 c) ii) Einkünfte im Sinne des 4 Absatz 2, für die kein Abzug nach Absatz 4 vorgenommen wurde 7,9520 7,9520 7,9520 c) jj) in Doppelbuchstabe ii enthaltene Einkünfte, auf die 2 Absatz 2 dieses Gesetzes in Verbindung mit 8b Absatz 2 des Körperschaftsteuergesetzes oder 3 Nummer 40 des Einkommensteuergesetzes oder im Fall des 16 dieses Gesetzes in Verbindung mit 8b Ab --- 0,0000 7,9520 c) kk) in Doppelbuchstabe ii enthaltene Einkünfte im Sinne des 4 Absatz 2, die nach einem Abkommen zur Vermeidung der Doppelbesteuerung zur Anrechnung einer als gezahlt geltenden Steuer auf die Einkommensteuer oder Körperschaftsteuer berechtigen 0,0000 0,0000 0,0000 c) ll) in Doppelbuchstabe kk enthaltene Einkünfte, auf die 2 Absatz 2 dieses Gesetzes in Verbindung mit 8b Absatz 2 des Körperschaftsteuergesetzes oder 3 Nummer 40 des Einkommensteuergesetzes oder im Fall des 16 dieses Gesetzes in Verbindung mit 8b Ab --- 0,0000 0,0000 c) mm) Erträge im Sinne des 21 Absatz 22 Satz 4 dieses Gesetzes in Verbindung mit 8b Absatz 1 des Körperschaftsteuergesetzes* --- 0, c) nn) in Doppelbuchstabe ii enthaltene Einkünfte im Sinne des 21 Absatz 22 Satz 4 dieses Gesetzes, auf die 2 Absatz 2 dieses Gesetzes in der am 20. März 2013 geltenden Fassung in Verbindung mit 8b Absatz 1 des Körperschaftsteuergesetzes anzuwenden ist* --- 0, c) oo) in Doppelbuchstabe kk enthaltene Einkünfte im Sinne des 21 Absatz 22 Satz 4 dieses Gesetzes, auf die 2 Absatz 2 dieses Gesetzes in der am 20. März 2013 geltenden Fassung in Verbindung mit 8b Absatz 1 des Körperschaftsteuergesetzes anzuwenden ist* --- 0, d) aa) den zur Anrechnung von Kapitalertragsteuer berechtigenden Teil der Ausschüttung im Sinne von 7 Absatz 1 und 2 0,0000 0,0000 0,0000 d) bb) den zur Anrechnung von Kapitalertragsteuer berechtigenden Teil der Ausschüttung im Sinne von 7 Absatz 3 0,0000 0,0000 0,0000 d) cc) den zur Anrechnung von Kapitalertragsteuer berechtigenden Teil der Ausschüttung im Sinne des 7 Absatz 1 Satz 4, soweit in Doppelbuchstabe aa enthalten 0,0000 0,0000 0,0000 f) den Betrag der ausländischen Steuer, der auf die in den ausgeschütteten Erträgen enthaltenen Einkünfte im Sinne des 4 Absatz 2 entfällt und aa) nach 4 Absatz 2 dieses Gesetzes in Verbindung mit 32d Absatz 5 oder 34c Absatz 1 des Einkommensteuergesetzes oder einem Abkommen zur Vermeidung der Doppelbesteuerung anrechenbar ist, wenn kein Abzug nach 4 Absatz 4 vorgenommen wurde 1,7782 1,7782 1,7782 bb) in Doppelbuchstabe aa enthalten ist und auf Einkünfte entfällt, auf die 2 Absatz 2 dieses Gesetzes in Verbindung mit 8b Absatz 2 des Körperschaftsteuergesetzes oder 3 Nummer 40 des Einkommensteuergesetzes oder im Fall des 16 dieses Gesetzes in Ver --- 0,0000 1,7782 cc) nach 4 Absatz 2 dieses Gesetzes in Verbindung mit 34c Absatz 3 des Einkommensteuergesetzes abziehbar ist, wenn kein Abzug nach 4 Absatz 4 dieses Gesetzes vorgenommen wurde 0,0000 0,0000 0,

16 dd) in Doppelbuchstabe cc enthalten ist und auf Einkünfte entfällt, auf die 2 Absatz 2 dieses Gesetzes in Verbindung mit 8b Absatz 2 des Körperschaftsteuergesetzes oder 3 Nummer 40 des Einkommensteuergesetzes oder im Fall des 16 dieses Gesetzes in Ver --- 0,0000 0,0000 ee) nach einem Abkommen zur Vermeidung der Doppelbesteuerung als gezahlt gilt und nach 4 ff) Absatz 2 in Verbindung mit diesem Abkommen anrechenbar ist 0,0000 0,0000 0,0000 in Doppelbuchstabe ee enthalten ist und auf Einkünfte entfällt, auf die 2 Absatz 2 dieses Gesetzes in Verbindung mit 8b Absatz 2 des Körperschaftsteuergesetzes oder 3 Nummer 40 des Einkommensteuergesetzes oder im Fall des 16 dieses Gesetzes in Ver --- 0,0000 0,0000 gg) in Doppelbuchstabe aa enthalten ist und auf Einkünfte im Sinne des 21 Absatz 22 Satz 4 dieses Gesetzes entfällt, auf die 2 Absatz 2 dieses Gesetzes in der am 20. März 2013 geltenden Fassung in Verbindung mit 8b Absatz 1 des Körperschaftsteuergesetze --- 0, hh) in Doppelbuchstabe cc enthalten ist und auf Einkünfte im Sinne des 21 Absatz 22 Satz 4 dieses Gesetzes entfällt, auf die 2 Absatz 2 dieses Gesetzes in der am 20. März 2013 geltenden Fassung in Verbindung mit 8b Absatz 1 des Körperschaftsteuergesetze --- 0, ii) in Doppelbuchstabe ee enthalten ist und auf Einkünfte im Sinne des 21 Absatz 22 Satz 4 dieses Gesetzes entfällt, auf die 2 Absatz 2 dieses Gesetzes in der am 20. März 2013 geltenden Fassung in Verbindung mit 8b Absatz 1 des Körperschaftsteuergesetze --- 0, g) den Betrag der Absetzungen für Abnutzung oder Substanzverringerung 0,0000 0,0000 0,0000 h) die im Geschäftsjahr gezahlte Quellensteuer, vermindert um die erstattete Quellensteuer des Geschäftsjahres oder frühere Geschäftsjahre 1,8774 1,8774 1,8774 nachrichtlich den Betrag der nach 3 Absatz 3 Satz 2 Nummer 2 nichtabziehbaren Werbungskosten 2,5377 2,5377 2,5377 * Die Einkünfte und Quellensteuern sind jeweils zu 100% ausgewiesen. Die auf Investmentanteile ausgeschütteten sowie die ausschüttungsgleichen Erträge gehören zu den Einkünften aus Kapitalvermögen i.s. des 20 Abs. 1 EStG, wenn sie nicht Betriebseinnahmen des Anlegers sind. Die Veröffentlichung der o.a. Meldung im Bundesanzeiger erfolgt vorbehaltlich der Prüfung durch das Bundeszentralamt für Steuern. Die Summe der nach dem 31. Dezember 1993 einem Anleger als zugeflossen geltenden, noch nicht dem Steuerabzug unterworfenen Erträge (gem. 7 Abs.1 Nr.3 bzw. 5 Abs.1 Nr.4 InvStG) beträgt: EUR 88,0204. Der Jahresbericht ist kostenlos und in deutscher Sprache bei: VPB Finance S.A. 26, Avenue de la Liberté L-1930 Luxemburg sowie bei der Depotbank erhältlich. VPB Finance S.A. 15