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Swiss business magazin «Bilanz» publishes periodically a ranking of the
best portfolios in four risk categories. For the ranking for calendar year 2012,
Matthias Hug submitted one of the investment strategies which is offered at
Hug Invest as well as at its two partner firms «Lakefield Partners AG» and
«Trail Consulting AG».

The portfolio achieved in the category «Balanced» the first rank with the
best performance (under the name of Lakefield Partners). For the ranking,
all transactions of a client portfolio had to be submitted.

The winning portfolio achieved a performance of 13.21% in reference currency
CHF, while the average performance in this category was 6.20%.

The benchmarking and its results are documented in the article «Geldkönige»
in the 06/2013 issue of the magazine (available in German language only).
Geldkönige (Full Article)

Swiss business magazine «Bilanz» tested a large number of independent asset
managers in Switzerland. In this test, Hug Invest ranked among the top ten
asset managers. Prof. Dr. Thorsten Hens, Head of the Institute of Swiss Banking
at the University of Zurich, who developed the test stated: «The best independent
asset managers are better than the banks».

The test and its results are documented in the article «Die Besten Unabhängigen»
in the 18/2010 issue of the magazine (available in German languange only).
Die Besten unabhängigen Vermögensverwalter (Full Articel)
Die Besten unabhängigen Vermögensverwalter (Ranking)

The results of the test were also summarized in the 5/2010 issue of the Swiss
magazine «K-Geld»
Test: Die besten Geldverwalter