Past performance is not indicative of future results. Company discussed herein for illustrative purposes only to elaborate on the subject matter under discussion. Information provided should not be viewed as a certainty or indication of similar or future outcomes in connection with our investment management approach and processes. The reader should not assume that an investment in any securities identified was or will be profitable or that the investment recommendations or decisions we make in the future will be profitable. Provided solely for informational purposes and is not intended to provide a sufficient basis on which to make an investment decision References to holdings (past / current) and/or other companies for illustrative purposes only. Information provided should not be considered a recommendation to purchase, hold, or sell any security nor should any assumption be made as to the profitability or performance of any company identified or security associated with them. There is no assurance that any securities discussed herein will remain in the portfolio at the time you receive this communication or that securities sold have not been repurchased. Securities discussed do not represent the entire portfolio and, in the aggregate, may represent only a certain percentage of the portfolio’s holdings. Further, any investments discussed herein are not a reliable indicator of the performance or investment profile of any composite or client account. 

Any projections or forward-looking statements regarding future events or the financial performance of countries, markets and/or investments are based on a variety of estimates and assumptions. There can be no assurance that the assumptions made in connection with such projections will prove accurate, and actual results may differ materially. The inclusion of forecasts should not be regarded as an indication that Vontobel considers the projections to be a reliable prediction of future events and should not be relied upon as such. 

The views and opinions herein are those of Vontobel – Quality Growth and may differ from other members of the Vontobel Group. Views and information provided herein may change at any time and without notice.