Monthly Factsheet as at 30/09/2020 Vontobel Asset Management

Variopartner SICAV - Tareno Fixed Income Fund T Dis EUR

Fund Profile Net Performance of T DIS Share (in EUR and %) The selection process of the fund considers only fixed income products 1 mth. YTD 2019 2018 2017 3 y. 5 y. since with an grade rating. The global investment scope and the p.a. p.a. inception diversification capabilities of corporate and government bonds support Fund 0.2 -3.2 5.4 -3.0 1.7 -0.1 n.a. 4.7 our achievement of a conservative risk profile with the objective of cap- 10.15 – 09.16 10.16 – 09.17 10.17 – 09.18 10.18 – 09.19 10.19 – 09.20 ital preservation. Fund n.a. 0.1 -0.7 2.9 -2.6 Investment Style The fund invests in accordance with the investment approach of the Tar- Net Performance of T DIS Share in EUR (distributing) eno Fixed Income Portfolio Management. Herein the investment policy Indexed in % follows a core satellite strategy. This enables us to observe selective op- 130 6.0 portunities as well as tactical adjustments besides our strategic core pos- 120 4.0 itions.

110 2.0 Rating Structure 100 0.0

90 -2.0 6.8% AA 32.2% A 80 -4.0 2015 2016 2017 2018 2019 2020 50.9% BBB 10.1% BB Performance (left-hand scale) Yearly Performance (right-hand scale)

Source: Vontobel Asset Management AG. Past performance is not a guide to current or future performance. The performance data do not take account of the commissions and costs incurred on issue and redemption. The return of the fund can be a result of currency fluctuations rise or fall. Maturity Structure Cash 2.6% Key Data * 1 - 3 years 25.9% Volatility 6.33% * 3 - 5 years 36.1% Sharpe ratio 0.05 5 - 7 years 17.2% Information ratio* n.a. 7 - 10 years 9.7% Tracking error* n.a. 10 years and more 8.5% Jensen's Alpha* n.a. Beta* n.a. Major bond positions Ø Modified duration 3.90 Goldman Sachs Em Mkts Corp Bond Pf I Acc USD 4.6% Average residual mat. in years 4.44 Flossbach von Storch - Bond Opportunities I 4.1% Average coupon 1.51% Ishares Iii Plc Barc Cap Bond 3.9% Yield to Maturity (YTM) 1.05% Pictet-EUR Short Term High Yield-I dy 3.2% * 3 years annualized 1.625% SpA 2024 2.8% 3.375% Allianz SE Perp 2.4% Fund Data WF Global Inflation Short Duration Bds IC EURH 2.3% Portfolio Manager Tareno AG, Basel 0.875% HSBC Holdings PLC 2024 2.3% Registration AT, CH, DE, GB, LU 1.375% Engie SA Perp 2.3% Fund domicile 2.5% Petroleos Mexicanos 2022 2.2% Fund currency EUR 99.96 Fund volume in mln 35.64 EUR Share class volume in mln 13.25 EUR Management fee 0.20% TER (per 31/12/2019) 0.57% Launch date 06/11/2015 Launch price 100.00 Last distribution 0.84 / September ISIN LU1299722972 Valor 29873238 Bloomberg VATFITE LX Custodian RBC Investor Services Bank S.A. Trading frequency Daily Distribution policy Distributing

Variopartner SICAV - Tareno Fixed Income Fund T Dis TARENO AG, St. Jakobs-Strasse 18, 4052 Basel 1/2 Vontobel Asset Management

Opportunities Risks + Broad diversification across numerous securities - Limited participation in the potential of single securities + Possible extra returns through single security analysis and active - Success of single security analysis and cannot be management guaranteed + Gains on invested capital possible - It cannot be guaranteed that the investor will recover the capital invested + Use of derivatives for hedging purposes may increase subfund's - Derivatives entail risks relating to liquidity, leverage and credit fluctuations, performance and enhance returns illiquidity and volatility. + Price increases of based on market, sector and company - Price fluctuations of investments due to market, industry and issuer linked developments are possible changes are possible. + Investment universe is diversified across global equity markets - Investment universe may involve investments in countries where the local + Investments in foreign currencies might generate currency gains stock exchanges may not yet qualify as recognised stock exchanges - Investments in foreign currencies are subject to currency fluctuations

This marketing document was produced for Wholesale/Retail clients, for distribution in: CH.

This document is for information purposes only and does not constitute an offer, solicitation or recommendation to buy or sell shares of the fund/fund units or any investment instruments, to effect any transactions or to conclude any legal act of any kind whatsoever. Subscriptions of shares of the fund should in any event be made solely on the basis of the fund's current sales prospectus (the “Sales Prospectus”), the Key Investor Information Document (“KIID”), its articles of incorporation and the most recent annual and semi-annual report of the fund and after seeking the advice of an independent finance, legal, accounting and tax specialist. Furthermore and before entering into an agreement in respect of an investment referred to in this document, you should consult your own professional and/or investment advisers as to its suitability for you.

Past performance is not a reliable indicator of current or future performance. Performance data does not take into account any commissions and costs charged when shares of the fund are issued and redeemed, if applicable. The return of the fund may go down as well as up due to changes in rates of exchange between currencies. The value of the money invested in the fund can increase or decrease and there is no guarantee that all or part of your invested capital can be redeemed.

Interested parties may obtain the above-mentioned documents free of charge from the authorized distribution agencies and from the offices of the fund at 11-13 Boulevard de la Foire, L-1528 Luxembourg, the representative in : Vontobel Fonds Services AG, Gotthardstrasse 43, 8022 Zurich, the paying agent in Switzerland: Bank Vontobel AG, Gotthardstrasse 43, 8022 Zurich, the paying agent in Germany: B. Metzler seel. Sohn & Co. KGaA, Untermainanlage 1, 60329 Frankfurt/Main, the paying agent in Austria Erste Bank der oesterreichischen Sparkassen AG, Am Belvedere 1, A-1010 Vienna. Refer for more information on the fund to the latest prospectus, annual and semi-annual reports as well as the key investor information documents (“KIID”). The funds authorized for distribution in the United Kingdom can be viewed in the FCA register under the Scheme Reference Number 620373. This information was approved by Vontobel Asset Management SA, London Branch, which has its registered office at Third Floor, 22 Sackville Street, London W1S 3DN and is authorized by the Commission de Surveillance du Secteur Financier (CSSF) and subject to limited regulation by the Financial Conduct Authority (FCA). Details about the extent of regulation by the FCA are available from Vontobel Asset Management SA, London Branch, on request. The KIID can be obtained in English from the facility agent in Great Britain: Carne (UK) LLP, Suites 1.15 - 1.16, 1st Floor, 5 Old Bailey, London EC4M 7BA. The fund and its subfunds are not available to retail investors in Singapore. Selected subfunds of the fund are currently recognized as restricted schemes by the Monetary Authority of Singapore. These subfunds may only be offered to certain prescribed persons on certain conditions as provided in the “Securities and Futures Act”, Chapter 289 of Singapore. This document is not the result of a financial analysis and therefore the “Directives on the Independence of Financial Research” of the Swiss Bankers Association are not applicable. Neither this document nor any copy of it may be distributed in any jurisdiction where its distribution may be restricted by law. Persons who receive this document should make themselves aware of and adhere to any such restrictions. In particular, this document must not be distributed or handed over to US persons and must not be distributed in the USA.

Variopartner SICAV - Tareno Fixed Income Fund T Dis TARENO AG, St. Jakobs-Strasse 18, 4052 Basel 2/2