Performance for the first half of 2012

The portfolio's performance in CHF is excellent over the first six months of the year with +7.74% in total return. Over the last twelve months, this even rises to +26.72%! Of course, the setting by the Swiss National Bank of the floor rate with the euro at CHF 1.20 on September 6, 2011 allowed to significantly weaken the Swiss franc against the dollar and therefore boost the performance of American stocks. This brings us to an annual profitability since launch (03.02.2010) of +9%. The other performance indicators are available here.