EFTA01100532.pdf

Portfolio valuation as of 18th December 2012 Reference: Portfolio no.: 60.068190_6 Valuation currency: EUR Your contact: Stefan Buck Place and date: Zurich, 18th December 2012 / 15:43:52 Asset analysis by categories and currencies (net assets, nominal view, amounts in valuation currency) MET in % USD in% CHF in% EUR in% Total in % Liquidity 3'152 0.0 2'595 0.0 -20t59 -0.1 -14'312 0.0 Commodities 40'222'387 100.0 40'222'387 100.0 Total 40'222'387 100.0 31152 0.0 21595 0.0 -20'059 -0.1 40'208.075 100.0 Exchange rates CHF 1.2080 USD 1.318777 Page 1/8 EFTA01100532 Portfolio valuation as of 18th December 2012 Reference: Portfolio no.: 60.068190_6 Valuation currency: EUR .H1. 1 ,t77:7:1:'1;Mi j. per asset class (in 1'000) per currency (in V000) 40'222 (100%) 40'222 (100%) 0(0%) 3(0%) 3(0%) 0 (0%) -14 (-0%) -20 (-0%) Liquidity Commodities Other MET USD CHF EU R Other Page 2/8 EFTA01100533 Portfolio valuation as of 18th December 2012 Reference: Portfolio no.: 60.068190_6 Valuation currency: EUR 1. Comparison of assets 2. Return calculation Initial assets as of 31.12.2011 39'616'541.70 Return in period: including accrued interest of 0.00 Total return 1'965'64639 Performance neutral capital inflows and outflows -1'374113.02 on instruments 2'462'959.85 Withholding taxes 0.00 on currencies -497113.45 Assets for comparison as of 31.1/2011 38'242'428.68 in % of assets for comparison 5.14% Income -1'385.43 Time weighted return: Accrued interest differences 0.00 Return in % 5.07% +1- accrued interest on transactions 0.00 Gains or losses 2'049'903.08 Own commission and fees -82'871.26 External charges and fees 0.00 Differences from rounding 0.00 3. Return history (cumulative) Final assets as of 18.12.2012 40'208'075.07 including accrued interest of 0.00 12.2% 0.0 31.12. 31.01. 29.02. 31.03. 30.04. 31.05. 30.06. 31.07. 31.08. 30.09. 31.10. 30.11. 18.12. 2011 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 Page 3/8 EFTA01100534 Portfolio valuation as of 18th December 2012 Reference: Portfolio no.: 60.068190_6 Valuation currency: EUR 11 I , I, H, ' I I l i .1 I I 7 ;zl Historical yearly returns Historical monthly returns 7.8% 5.1% 41% 3.8% 28% 1.4% 03% 0.9% . I -0.4% 1 -0.4% 1 -0.9% -3.1% -2.9% -40% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2011 2012 • 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 * Historical yearly returns (cumulative) Historical monthly returns (cumulative) 9.0% 12.2% 7% 8.2% 3.8% SNN-54,% Jan Feb Mr Apr May Jun Jul Aug Sep Oct Nov Dec 2011 2012* 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 * * until end of period * until end of period Page 4/8 EFTA01100535 Portfolio valuation as of 18th December 2012 Reference: Portfolio no.: 60.068190_6 Valuation currency: EUR Currency Amount Description Price Market value % of Currency in EUR Total CHF 3'134.81 Private account 60.068190_6.201CHF 1.2080 2195.04 0.0% EUR -20'059.00 Current account 60.068190_6.100.EIUR -20'059.00 0.0% USD 4'156.46 Current account 60.068190_6.100.USD 1.3188 3'151.75 0.0% Total Current accounts 44'312.21 0.0% Page 5/8 EFTA01100536 Portfolio valuation as of 18th December 2012 Reference: Portfolio no.: 60.068190_6 Valuation currency: EUR Amount Description Cost price: Price: Return APP: Return VII): Market value % of Security / ISIN / Country Instrument Instrument Instrument Instrument in ECK Total Currency Currency Currency Currency Date Total in % Total EUR 458 1 kg Gold bullions 22277.0786 41.010.00 5.831.678 747'092 18'782'580.00 46.7% fine:999.9 0 0 281128.700.EUR / CH0002811286 / Prec. metals 18.04.2011 45.03% 747'092 USD 269 1 kg Gold bullions 49'075.7143 54'599.00 1'103'710 930227 11'136'930.46 27.7% fine:999.9 13462 1.3188 226'490 -260'998 281128.700.USD 1CF10002811286 / Prec. metals 24.06.2011 13.56% 669'229 USD w000 1 ounzc Gold bullions 1'538.25 P698.40 951/49 871'029 10'302'876.82 25.6% fine:999.9 13462 1.3188 209'528 -23T694 281179.700.000 / CH0002811799 / Prcc. metals 15.062011 12.70% 638'335 Total Precious metals 40'222'387.28 100.0% Total assets excluding accrued interest 40'208'1175.07 100.0% Total accrued interest 0.00 0.0% "[Mal assets 40'208'075.07 100.0% Page 6/8 EFTA01100537 Portfolio valuation as of 18th December 2012 Reference: Portfolio no.: 60.068190_6 Valuation currency: EUR Gross assets Liabilities Total in `1/0 Current accounts 5'746.79 20'059.00 -14'312.21 0.0% Precious metals 40'222'387.28 0.00 40'222'387.28 100.0% Total 40'228'134.07 20'059.00 40'208'075.07 100.0% Asset analysis by currency Gross assets Liabilities Total in % CHF Swiss Franc 2'595.04 0.00 7595.04 0.0% USD US-Dollar 3151.75 0.00 3151.75 0.0% EUR EUR 0.00 20'059.00 -20'059.00 -0.1% MET Prec. metal 40'222'387.28 0.00 40'222'387.28 100.0% Total 40'228'134.07 20'059.00 40'208'075.07 100.0% Page 7/8 EFTA01100538  Portfolio valuation as of 18th December 2012 Reference: Portfolio no.: 60.068190_6 Valuation currency: EUR Glossary of Terms* Accrued interest: Interest from financial instruments that has accumulated between payment dates. +f-accrued interest from transactions: Accrued interest from the purchase or sale of financial instruments. Assets for comparison: Capital at the beginning of the evaluation period, adjusted for capital inflows/outflows and withholding tax. Broken-period interest differences: The difference between the accrued interest at the end of the evaluated period and that of the beginning of the evaluated period. Differences from rounding: The discrepancy that can arise from the rounding of the individual values as compared to the total value. External charges and fees: Duties charged by third parties. e.g. the value added tax. Gains or losses: Changes in the value of the portfolio due to price fluctuations. Income: Revenues such as interest, coupon and dividend payments. Own commission and fees: Safekeeping fees, asset management fees, all-in fee. administrations fees, account charges etc. Performance neutral capital inflows and outflows: Changes in portfolio value not related to the investment performance. such as capital inflows and outflows or delivery of securities. Return APP: Return on a position relative to the average purchase price. Return history (cumulative): The development of the time weighted returns since the beginning of the period. Return in % of assets for comparison: The return in the period expressed as a percentage of the assets for comparison. Return in period: Portfolio performance in the evaluated period. calculated as the difference between the final assets and the assets for comparison. Return YTD: The net return of a position year-to-date. Time weighted return: The compound rate of return over the evaluated period. In this calculation, the sub-periods arc given equal weighting. regardless of the amount invested. Withholding taxes: Taxes raised on revenues such as interest income and dividends. They are treated as performance neutral because they can be reclaimed. • Performance related terms only appear in the asset statement and summary of performance. Legal notes The assets are valued on the basis of prices and values derived from sources of information customarily used by banks. Consolidated portfolio valuation reports do not represent an actual portfolio. but rather a combination of several individual portfolios. You arc requested to check this portfolio valuation and inform us of any discrepancies within 30 days of receipt. otherwise the valuation will be considered approved. This report is not suitable for tax purposes. S.E. & O. Page 8/8 EFTA01100539