Betrousse and Yves Rocher UK Competition 1. BETROUSSE.CO.UK (9 Queen’s Yard, White Post The value of each set of beauty products are based Lane, E9 5EN, London, United Kingdom) is organising a on normal prices in the 2012 price list. The prize is free prize draw called «£1070 competition with Yves not transferable or refundable and there are no Rocher UK» open to residents in the UK. The prize draw will run from the 10/09/2012 until the 10/31/2012 inclusive. The prize draw that will designate the winners will 2. This prize draw is open to any person aged 18 and over take place in the UK, on the 9th October 2012 until in the UK who has an internet connexion and a valid e- 31st October 2012, under the control of legal supervisor or subsequently nominated person. prize draw remains accessible to anyone coming from the following sources: Betrousse UK, Betrousse email, Google Ad banners, Facebook, Bloggers, online press 5. Betrousse UK reserves the right to defer, modify or cancel this prize draw, to change the prize and to replace it with another prize of the same value if There is no obligation to purchase to enter the prize draw. This prize draw is opened to everyone who is living in the 6. The winner will be personally notified by UK excluding employees of Betrousse, the notary public, registered mail within two months after the closing persons with whom they are domiciled and companies date. If the winner does not come forward within that have participated in the organisation of this prize one month of being first informed of their win, their draw. Only one entry per household, entries are not prize will be given to another finalist or to a recognized charitable organisation, if it could not be 3. Each participant must complete the electronic entry 7. The Prize of the « «£1070 competition with Yves form by entering their email and accept to receive or not Rocher UK » will be given to the winner 1 month receive Betrousse or Yves Rocher newsletters. after its acceptance. All images shown on the « «£1070 competition with Yves Rocher UK” are for Participants have the opportunity to invite an unlimited number of friends to participate in the game by indicating The friends are then clearly informed of the email address 8. The winner will accept in advance that Yves of the person who recommended them for this invitation Rocher UK and Betrousse UK may use their name, address, and photograph for promotional purposes and can in turn; invite others to participate, if they wish. on Yves Rocher UK or Betrousse UK advertising People that have been referred are not signed up to materials (internet and mailing) without any Betrousse UK and/or Yves Rocher UKnewsletters. Email addresses of friends must be valid. Betrousse UK Personal information is treated by our company in guarantees that after the technical operation of the the strictest of confidence in regards to customer transfer of the invitation to participate in the game, the information and customer prospection. In order to emails of the invited friends are not retained without their allow you the opportunity to receive messages from our partners, we may be lead to communicate this It is also strictly forbidden to carry out the collection of emails, register fictitious friends or anyone having no link As indicated in the Data Protection Act 1998, you have the right to access, rectify or oppose the information that concerns you. To exercise this right, simply write to us communicating your 4. This prize draw will designate 10 winners whom will surname, name and address and if possible your each win a set of beauty products, worth £107. The total value of these 10 prizes is £1070. In each set, there are Queen’s Yard, White Post Lane, E9 5EN, London, the following products: a nail polish, bath and shower gel United Kingdom). You can also contact us by email apple delight, make up remover, face cream Hydra on: and send an email to Vegetal, Foundation Pure Light, Mascara Sexy Pulp, «», not forgetting to note 9. The result of the prize draw can be obtained upon request by sending a self addressed stamped envelope to BETROUSSE.CO.UK, 9 Queen’s Yard, White Post Lane, E9 5EN, London, United Kingdom. 10. A copy of the rules for the «£1070 competition with Yves Rocher UK » prize draw, can be obtained free of charge by written request to BETROUSSE.CO.UK, 9 Queen’s Yard, White Post Lane, E9 5EN, London, United Kingdom, or on the website: 11. Participation in this game implies knowledge and acceptance of the characteristics, but also the limitations of the internet regarding performance or technical malfunctions, as well as the lack of protection of certain data against possible misuse. 12. The reproduction in whole or in part of the components of this contest is prohibited. 13. We cannot be responsible for lost, late, misdirected, damaged, incomplete, and illegible entries.


QUARTERLY COMMENTARY | 31 December 2012 Mutual Global Discovery Fund vestment Team KEY POINTS • Post-election investor distress regarding the US “fiscal cliff” drove rapid movements in global financial markets for part of the fourth quarter. European equities benefited from an improved outlook, outperforming their • Three of the fund’s largest contributors to absolute

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