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The main emphasis of the investment process is on stock-picking (bottom-up). In this context Portfolio Management looks for value-oriented companies with good operating cash flow,
a sound balance sheet and a good basis for growth. In the area of European and US Equity Mandates Vontobel Portfolio Management has no preferred investment style (neither "value"
nor "growth"). Sector allocation also plays a subordinate role in this investment policy.

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Jean-Philippe Hechel
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| Head of European Equities and Global Balanced Euro, Vontobel Asset Management |
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Cédric Lewy
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| Head of Global Balanced, Vontobel Asset Management |
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Erik Steffen
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| Portfolio Manager European Equities and Global Balanced Euro, Vontobel Asset Management |
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