Disclaimer
The index comparisons on the Vontobel website are provided for informational purposes only and should not be used as the basis for making an investment decision. Further, the performance of the composite and the Index may not be comparable.
The inclusion in the composite of the performance of wrap accounts and private client assets could result in a material difference in the performance returns.
There can be no assurance that investment objectives will be achieved. Clients must be prepared to bear risk of a total loss of their investment.
As fees are deducted quarterly, the compounding effect will be to increase the impact of the fee by an amount directly related to the gross account performance. For example, on an account with a 0.5% fee, and gross performance of 20% over one year, the compounding effect of the fee will result in performance of approximately 19.4%. A $10,000 initial investment would grow to approximately $14,256 gross of fees, versus $14,000 net of fees, over a two-year period.
Performance Disclosure
Emerging Markets Equity Composite includes all discretionary accounts, excluding wrap accounts and private client assets, that invest mainly in equity securities of issuers located in emerging market countries in Asia, Latin America, Africa, and Europe. Results of the composite are shown compared to the Morgan Stanley Capital International - Emerging Markets Index (the “MSCI Emerging Markets Index”), an unmanaged index based on share prices of a select group of global emerging market stocks that are available to global investors. The benchmark is used for comparative purposes only and generally reflects the risk or investment style of the investments in the composite. The index is a free float-adjusted market capitalization index of over 850 stocks that is designed to measure equity market performance in 26 global emerging markets countries. The index is calculated on a total return basis with gross dividends reinvested, but does not reflect fees, withholding taxes or other investment expenses, and is expressed in U.S. Dollars. Investments made by the Company for the portfolios it manages according to respective strategies may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the MSCI Emerging Markets Index. The minimum account size for this composite is $1 million.
Vontobel Asset Management,Inc. ("VAMUS") claims compliance with the Global Investment Performance Standards(GIPS®).
VAMUS is an investment advisory firm registered under the Investment Advisers Act of 1940 and a subsidiary of Vontobel Holding AG, Zurich, Switzerland. For GIPS purposes, the firm is defined as all institutional accounts at Vontobel Asset Management, excluding wrap accounts and private client assets. The firm maintains a complete list and description of composites, which is available upon request. To receive this and / or a presentation that adheres to the GIPS, contact us at 212-415-7000, info@vusa.com or write to Vontobel Asset Management, Inc., 1540 Broadway, 38th Floor, New York, N.Y. 10036.
Results are based on fully discretionary institutional accounts under management, including those accounts no longer with the firm, and excluding wrap accounts and private client assets. Net composite performance is presented after the deduction of foreign withholding taxes. Capital gains, dividends and interest received may be subject to withholding tax imposed by the country of origin and such taxes may not be recoverable. Past performance is not indicative of future results.
No portfolios contained in this composite were carved out from balanced portfolios or multi-manager portfolios currently or historically. Leverage and derivatives are not used in the composition of client portfolios.
The U.S. Dollar is the currency used to express performance. Returns include the effect of foreign currency exchange rates. Returns are presented gross and net of management fees and include the reinvestment of all income. Withholding tax rates for the indices are applicable to Luxembourg withholding companies. Our withholding taxes, as captured in the composites, may vary from those captured in the index. Additional information regarding policies for calculating and reporting returns is available upon request.
The standard annual management fees charged by the Company for the Composite are: 0.95% on the first $100 million, 0.85% over $100 million. Certain accounts may have higher management fees than the standard fee schedule. The Company’s investment advisory fees are further described in Part II of its Form ADV.
The Emerging Markets Equity Composite was created October 31, 1992. Compliance with GIPS has been verified firm-wide by Ashland Partners & Company LLP from January 1, 2005 through June 30, 2011. In addition, a performance examination was conducted on the Emerging Markets Equity Composite beginning January 1, 2005. For the period January 1, 2001 through December 31, 2004, the Company was verified firm-wide and the performance results of the Emerging Markets Equity Composite for the period January 1, 2001 to December 31, 2004 were examined by Ernst & Young LLP. Performance results from January 1, 1994 to December 31, 2000 have been examined by PriceWaterhouseCooper.