During the four year period from January 2009 until December 2012,
the
investment strategy
achieved a performance of 21% pa.
In the current investment climate and looking forward,
the performance target has been set at 10% pa.
|
€
|
Managed
Accounts |
MSCI Europe IMI
Net Return (1) |
DAX 30 (2) |
| 2009 |
40.7 % |
33.8 % |
23.8 % |
| 2010 |
33.6 % |
12.9 % |
16.1 % |
| 2011 |
(6.8) % |
(9.1) % |
(14.7) % |
| 2012 |
21.0 % |
18.3 % |
29.1 % |
1. Jan 09 -
31. Dec 12 |
20.7 % pa |
12.9 % pa |
12.2 % pa |
(1) The MSCI Europe is an investable performance index; dividends are being reinvested net of withholding tax;
the index contains constituents with large-, mid- and small market capitalisations.
(2) The Dax 30 Index is a performance index; dividends are being reinvested gross of withholding tax;
the index consists of the 30 largest German companies by free-float market capitalisation.
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