,PPRELOLHQ
0DJD]LQ
(LQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
/LHEH /HVHULQQHQ
/LHEH /HVHU
&KULVWRI 0|OOHU
YLHOH HUIOOHQ VLFK MHW]W LKUHQ 7UDXP YRP HLJHQHQ +HLP
'DQN GHU H[WUHP QLHGULJHQ =LQVHQ LVW GHU (UZHUE VROYHQWHQ .lXIHU ]X WXQ ]X KDEHQ 6R OlVVW VLFK HLQH
GHU HLJHQHQ YLHU :lQGH KHXWH OHLFKWHU GHQQ MH 'DV ,PPRELOLH ELQQHQ NXU]HU =HLW YHUlXHUQ ² ]X
PDFKW +lXVHU XQG :RKQXQJHQ VR JHIUDJW ZLH QLH HLQHP RSWLPDOHQ 3UHLV 8P GLH (UOHGLJXQJ DOOHU
]XYRU 'HVKDOE N|QQWHQ DXFK GLH =HLWHQ IU GHQ QRWZHQGLJHQ )RUPDOLWlWHQ EUDXFKHQ VLFK .lXIHU
9HUNDXI HLQHU ,PPRELOLH QLFKW EHVVHU VHLQ 'RFK VHOEVW XQG 9HUNlXIHU RKQHKLQ QLFKW ]X NPPHUQ
LQ Ä%RRP]HLWHQ´ ZLH GLHVHQ YHUNDXIHQ VLFK
,PPRELOLHQ NHLQHVZHJV YRQ VHOEVW 'LHVHU NRPSHWHQWH 6HUYLFH KDW GLH /%6 ,PPRELOLHQ
*PE+ LP 9HUEXQG PLW GHQ 6SDUNDVVHQ ]XP 0DUNWIKUHU
:LH DEHU ILQGHW VLFK HLQ VROYHQWHU .lXIHU GHU JHQDX GLH LQ +HVVHQ XQG 7KULQJHQ JHPDFKW $XFK LQ
,PPRELOLH VXFKW GLH PDQ YHUlXHUQ P|FKWH" 8QG SXQFWR .XQGHQ]XIULHGHQKHLW HU]LHOHQ XQVHUH 0DNOHU
]X ZHOFKHP 3UHLV VROOWH GLHVH DQJHERWHQ ZHUGHQ" 6SLW]HQZHUWH 3UR]HQW GHU 9HUNlXIHU VLQG PLW
8QVHUH ,PPRELOLHQIDFKOHXWH LQ XQVHUHQ XQVHUHQ ,PPRELOLHQPDNOHUQ HKHU ]XIULHGHQ RGHU VHKU
*HVFKlIWVWHOOHQ LQ (VFKZHJH XQG :LW]HQKDXVHQ ]XIULHGHQ
ZLVVHQ ZLH GDV JHKW 6LH NHQQHQ LKUHQ KHLPLVFKHQ
,PPRELOLHQPDUNW ÄZLH LKUH :HVWHQWDVFKH´ )U GLH $VSHNWH 6HULRVLWlW 6LFKHUKHLW EHL GHU
9HUWUDJVDEZLFNOXQJ =XYHUOlVVLJNHLW XQG IDFKOLFKH
%HYRU VLH GLH 9HUPLWWOXQJ HLQHV +DXVHV RGHU .RPSHWHQ] HUKLHOWHQ XQVHUH ,PPRELOLHQPDNOHU YRQ
HLQHU :RKQXQJ EHUQHKPHQ KDEHQ VLH GDV 2EMHNW LKUHQ .XQGHQ DOOHUEHVWH %HXUWHLOXQJHQ
XQG VHLQ 8PIHOG EHUHLWV HLQJHKHQG EHJXWDFKWHW
XQG HLQHQ PDUNWJHUHFKWHQ 3UHLV HUPLWWHOW 8QG HKH :LU IUHXHQ XQV GDUDXI DXFK IU 6LH JHQDX GDV ]X ILQGHQ
VLH GLH ,PPRELOLH GDQQ PLW HLQHP P|JOLFKHQ ZDV 6LH VXFKHQ
.lXIHU EHVLFKWLJHQ ZXUGH JHSUIW RE GLHVHU XQG
GDV 2EMHNW EHUKDXSW Ä]XVDPPHQ SDVVHQ´ ² DXFK ,KU 7UDXPKDXV RGHU JHQDX GHQ ULFKWLJHQ .lXIHU IU
ILQDQ]LHOO ,KUH ,PPRELOLH
+HU]OLFKVW ,KU
,KU
'DV JLEW GHP 9HUNlXIHU 6LFKHUKHLW XQG HUVSDUW LKP =HLW
0KH XQG OlVWLJHQ Ä%HVLFKWLJXQJVWRXULVPXV´
$XFK KDW HU GLH *HZLVVKHLW HV PLW HLQHP ZLUNOLFK
:LU VLQG IU 6LH GD ,KU 7HDP GHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLVVQHU
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
:DQIULHG 0HLQKDUG +HUOHVKDXVHQ
2EMHNWDUW %DXHUQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî :RKQIOlFKH FD Pî :RKQIOlFKH FD Pî
=LPPHU =LPPHU =LPPHU
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
%DXMDKU FD %DXMDKU %DXMDKU
(QHUJLHWUlJHU *DV +RO] (QHUJLHWUlJHU (OHNWURHQHUJLH (QHUJLHWUlJHU (OHNWUR +RO]
(QHUJLHZHUW 'HQNPDOVFKXW] (QHUJLHZHUW 'HQNPDOVFKXW] (QHUJLHZHUW 'HQNPDOVFKXW]
%DXGHQNPlOHU JHP (Q(9 %DXGHQNPlOHU JHP (Q(9 %DXGHQNPlOHU JHP (Q(9
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
0HLQHU
2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî
=LPPHU
*UXQGVWFN FD Pî
%DXMDKU
(QHUJLHWUlJHU gO
(QHUJLHZHUW N:K PîD
:RKQJHElXGH YHUEUDXFKVRULHQWLHUW .ODVVH (
2EMHNWQXPPHU ),2
.DXISUHLV (85
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
%HUNDWDO
2EMHNWDUW :LQNHOEXQJDORZ
:RKQIOlFKH FD Pî
=LPPHU
*UXQGVWFN FD Pî
%DXMDKU
(QHUJLHWUlJHU gO
(QHUJLHZHUW N:K PîD
:RKQJHElXGH YHUEUDXFKVRULHQWLHUW .ODVVH %
2EMHNWQXPPHU ),2
.DXISUHLV (85
:HKUHWDO * %HUNDWDO %HUNDWDO
2EMHNWDUW (LQIDPLOLHQKDXV H 2EMHNWDUW 5HLKHQPLWWHOKDXV 2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî :RKQIOlFKH FD Pî :RKQIOlFKH FD Pî
=LPPHU =LPPHU =LPPHU
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
%DXMDKU %DXMDKU %DXMDKU
(QHUJLHWUlJHU gO (QHUJLHWUlJHU (OHNWRHQHUJLH (QHUJLHWUlJHU *DV 3HOOHWV
(QHUJLHZHUW N:K PîD (QHUJLHZHUW N:K PîD (QHUJLHZHUW 'HQNPDOVFKXW]
:RKQJHElXGH EHGDUIVRULHQWLHUW * :RKQJHElXGH EHGDUIVRULHQWLHUW + %DXGHQNPlOHU JHP (Q(9
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
(VFKZHJH (VFKZHJH %DG 6RRGHQ $OOHQGRUI
2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî :RKQIOlFKH FD Pî :RKQIOlFKH FD Pî
=LPPHU =LPPHU =LPPHU
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
%DXMDKU FD %DXMDKU FD %DXMDKU
(QHUJLHWUlJHU *DV (QHUJLHWUlJHU *DV (QHUJLHWUlJHU gO
(QHUJLHZHUW 'HQNPDOVFKXW] (QHUJLHZHUW N:K PîD (QHUJLHZHUW N:K PîD
%DXGHQNPlOHU JHP (Q(9 :RKQJHElXGH EHGDUIVRULHQWLHUW + :RKQJHElXGH EHGDUIVRULHQWLHUW +
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
(VFKZHJH
2EMHNWDUW 9LOOD
:RKQIOlFKH FD Pî
=LPPHU
*UXQGVWFN FD Pî
%DXMDKU
(QHUJLHWUlJHU *DV
(QHUJLHZHUW 'HQNPDOVFKXW]
%DXGHQNPlOHU JHP (Q(9
2EMHNWQXPPHU ),2
.DXISUHLV (85
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
/%6 ,PPRELOLHQ *PE+ KDW LQ +HVVHQ XQG
7KULQJHQ ,PPRELOLHQ LP :HUW YRQ PHKU DOV
HLQHU KDOEHQ 0LOOLDUGH (XUR YHUPLWWHOW
(LQVWLPPXQJ DXI GDV ,PPRELOLHQMDKU 'LHWPDU %RKQH
OLQNV PLW GHU HKHPDOLJHQ GHXWVFKHQ %LDWKOHWLQ XQG )DFHERRN LVW
2O\PSLDVLHJHULQ $QGUHD +HQNHO DXI GHU /%6 -DKUHVWDJXQJ LQ
2EHUKRI HLQIDFK
$XFK EHL )DFHERRN ILQGHQ 6LH
XQV DE VRIRUW XQWHU
6SDUNDVVHQ ,PPRELOLHQ :HUUD
0HLQHU $ERQQLHUHQ 6LH
XQVHUH 6HLWH XQG ZHUGHQ 6LH
VWHWV DNWXHOO EHU QHXH
,PPRELOLHQDQJHERWH
LQIRUPLHUW
([SHUWHQ 7LSS
'LH ,PPRELOLHQQDFKIUDJH LVW XQJHEURFKHQ Ä,PPHU PHKU 0HQVFKHQ HUIOOHQ VLFK
LKUHQ :XQVFK QDFK GHQ HLJHQHQ YLHU :lQGHQ XQG HLQHU VLFKHUHQ $OWHUVYRUVRUJH
=XQHKPHQG VLQG :RKQLPPRELOLHQ DXFK DOV VLFKHUH .DSLWDODQODJH JHVXFKW´
HUNOlUW 'LHWPDU %RKQH *HVFKlIWVIKUHU GHU /%6 ,PPRELOLHQ *PE+
*UQGH IU GLH DQKDOWHQG OHEKDIWH 1DFKIUDJH VHLHQ QHEHQ GHQ QLHGULJHQ =LQVHQ
DXFK GLH VWHLJHQGHQ (LQNRPPHQ XQG GLH JXWH %HVFKlIWLJXQJVODJH %RKQH
Ä$XIJUXQG GHU XQYHUlQGHUW VWDUNHQ 1DFKIUDJH ZLUG GDV ,PPRELOLHQDQJHERW MHW]W
YLHOHURUWV HQJHU XQG GLH 3UHLVH ]LHKHQ UHJLRQDO XQWHUVFKLHGOLFK ZHLWHU DQ ´
$OOHUGLQJV VHL ]X EHREDFKWHQ GDVV VLFK GHU 3UHLVDQVWLHJ LQ YLHOHQ 6WlGWHQ EHUHLWV
YHUODQJVDPH Ä'RUW KDEHQ GLH 3UHLVH LKUHQ =HQLW ZRKO VFKRQ EDOG HUUHLFKW ´
.DXIHQ VWDWW 0LHWHQ
,P YHUJDQJHQ -DKU YHUPLWWHOWH GLH /%6 ,PPRELOLHQ *PE+ LP 9HUEXQG PLW GHQ 'HU EHVWH :HJ VLFK YRQ
6SDUNDVVHQ XQG GHU /%6 LQ +HVVHQ XQG 7KULQJHQ LQVJHVDPW +lXVHU 0LHWHUK|KXQJHQ XQDEKlQJLJ
:RKQXQJHQ XQG *UXQGVWFNH 'LH =DKO GHU YHUPDUNWHWHQ ,PPRELOLHQ EHZHJWH ]X PDFKHQ LVW GHU (UZHUE YRQ
VLFK GDPLW DXI GHP 1LYHDX GHV 9RUMDKUHV LKU :HUWYROXPHQ HUK|KWH VLFK :RKQHLJHQWXP 0LW
JHJHQEHU XP 3UR]HQW DXI 0LOOLRQHQ (XUR 'DGXUFK NRQQWH GLH GXUFKVFKQLWWOLFK
/%6 ,PPRELOLHQ *PE+ LKUH 3RVLWLRQ DOV 0DUNWIKUHU LQ EHLGHQ %XQGHVOlQGHUQ 4XDGUDWPHWHUQ VWHKW LKQHQ
ZHLWHU DXVEDXHQ 7URW] GHU VWlUNHUHQ 1HXEDXWlWLJNHLW VSLHOHQ JHEUDXFKWH GHXWOLFK PHKU :RKQIOlFKH ]XU
+lXVHU XQG :RKQXQJHQ QDFK $QJDEH YRQ %RKQH LPPHU QRFK GLH +DXSWUROOH DXI 9HUIJXQJ DOV 0LHWHUQ ,P
GHQ ,PPRELOLHQPlUNWHQ Ä 3UR]HQW GHU YRQ XQV YHUPDUNWHWHQ ,PPRELOLHQ 5HQWHQDOWHU ZHQQ GLH
VWDPPHQ DXV ]ZHLWHU +DQG´ HUOlXWHUW HU ,PPRELOLH DEEH]DKOW LVW
$EVROXWH Ä%HVWVHOOHU´ VHLHQ QDFK ZLH YRU (LJHQKHLPH DXV GHP %HVWDQG ZHUGHQ GLH ILQDQ]LHOOHQ 9RUWHLOH
Ä1LFKW QXU GHU LP 9HUJOHLFK ]X HLQHP 1HXEDX JQVWLJHUH 3UHLV VRQGHUQ DXFK GLH EHVRQGHUV GHXWOLFK 6R PVVHQ
PHLVW JU|HUHQ *UXQGVWFNH LQ JHZDFKVHQHQ :RKQODJHQ JHEHQ GHQ $XVVFKODJ 0LHWHU LP 6FKQLWW HWZD
IU GHQ .DXI HLQHV (LJHQKHLPV DXV GHP %HVWDQG´ HUNOlUW HU 3UR]HQW PHKU LKUHV
+DXVKDOWVHLQNRPPHQV IUV
.DSLWDODQOHJHU KDEHQ LP 9HUJOHLFK ]X GHQ -DKUHQ GDYRU QRFK GHXWOLFK PHKU :RKQHQ DXIZHQGHQ /DXW 716
LQ :RKQLPPRELOLHQ LQYHVWLHUW *HIUDJW ZDUHQ YRU DOOHP 0HKUIDPLOLHQKlXVHU ,QIUDWHVW KDOWHQ GHU
VRZLH JXW YHUPLHWHWH QHXH XQG JHEUDXFKWH (LJHQWXPVZRKQXQJHQ LQ JXWHQ 'HXWVFKHQ HLQH HLJHQH
:RKQODJHQ´ VR %RKQH *XW DFKW 3UR]HQW GHU +lXVHU XQG :RKQXQJHQ
YHUPLWWHOWHQ GLH 0DNOHU GHU /%6 ,PPRELOLHQ *PE+ LP YHUJDQJHQ -DKU DOV ,PPRELOLH IU GLH EHVWH
.DSLWDODQODJH $XFK LQ GHU DNWXHOOHQ 0DUNWVLWXDWLRQ ZLUG NHLQH ,PPRELOLH $OWHUVYRUVRUJH 'HPQDFK LVW
YHUPDUNWHW GLH YRUKHU QLFKW HLQJHKHQG EHZHUWHW ZRUGHQ LVW Ä'DV JLEW .lXIHUQ Ä%HWRQJROG´ VRJDU SRSXOlUHU
ZLH 9HUNlXIHUQ 6LFKHUKHLW´ EHWRQW %RKQH =XGHP KlWWHQ VLFK EHL GHQ 0DNOHUQ DOV /HEHQV XQG
YRQ 6SDUNDVVHQ XQG /%6 LQ]ZLVFKHQ EHUHLWV XQ]lKOLJH ILQDQ]LHUXQJVJHSUIWH 5HQWHQYHUVLFKHUXQJHQ 'LH
.DXILQWHUHVVHQWHQ YRUPHUNHQ ODVVHQ GHQHQ HLQH IU VLH LQ )UDJH NRPPHQGH PHLVWHQ %DXKHUUHQ XQG
,PPRELOLH GLUHNW DQJHERWHQ ZHUGH ,PPRELOLHQNlXIHU PVVHQ ]ZDU
WHLOZHLVH EHU 'DUOHKHQ
%RKQH Ä6R HUIROJW GHU (LJHQWXPVZHFKVHO RKQH YLHO $XIKHEHQV ELQQHQ NXU]HU ILQDQ]LHUHQ GLH .UHGLWUDWHQ
=HLW VLFKHU SUREOHPORV XQG GLVNUHW ´ 'HP 9HUNlXIHU ZHUGH DXI GLHVH :HLVH DXFK VLQG GHU]HLW LQ YLHOHQ )lOOHQ
HLQ ÄOlVWLJHU %HVLFKWLJXQJVWRXULVPXV´ HUVSDUW XQG HU KDW GLH *HZLVVKHLW GDVV HU DEHU NDXP K|KHU DOV GLH 0LHWH
HV PLW HLQHP VROYHQWHQ .lXIHU VHLQHU ,PPRELOLH ]X WXQ KDW
,KU 3HWHU (EHUKDUGW
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
,PPRELOLHQVXFKH LVW HLQIDFK
0LW GHP 6SDUNDVVHQ ,PPRELOLHQSRUWDO
6LH P|FKWHQ PHKU ,QIRUPDWLRQHQ EHU GLH 2EMHNWH"
'DQQ JHEHQ 6LH XQWHU ZZZ V LPPRELOLHQ GH HLQIDFK GLH
2EMHNWQXPPHU HLQ
,Q QXU Æ 6FKULWWHQ
JHODQJHQ 6LH ]X DOOHQ
ZLFKWLJHQ ,QIRUPDWLRQHQ
]X GHU LQ GLHVHP 0DJD]LQ
DEJHELOGHWHQ $QJHERWHQ
VRZLH YRQ PHKU DOV
,PPRELOLHQ EXQGHVZHLW YRQ
GHQ ,PPRELOLHQVSH]LDOLVWHQ
,KUHU 6SDUNDVVH 6R JHKW HV
%HVXFKHQ 6LH GDV
,PPRELOLHQSRUWDO
XQWHU GHU $GUHVVH
ZZZ V LPPRELOLHQ GH
*HEHQ 6LH GLH Æ ,' GHV
2EMHNWHV 2EMHNW
QXPPHU GHU MHZHLOLJHQ
,PPRELOLH LQ GDV
6XFKIHOG HLQ ] %
),2
.OLFNHQ 6LH GDQQ QXU
QRFK DXI GLH URWH
6FKDOWIOlFKH Æ 6XFKHQ
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
5LQJJDX
2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî
=LPPHU
*UXQGVWFN FD Pî
%DXMDKU
(QHUJLHWUlJHU gO
(QHUJLHZHUW N:K PîD
:RKQJHElXGH EHGDUIVRULHQWLHUW .ODVVH +
2EMHNWQXPPHU ),2
.DXISUHLV (85
5LQJJDX 5LQJJDX :HKUHWDO
2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî :RKQIOlFKH FD Pî :RKQIOlFKH FD Pî
=LPPHU =LPPHU =LPPHU
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
%DXMDKU FD %DXMDKU %DXMDKU
(QHUJLHWUlJHU gO (QHUJLHWUlJHU gO (QHUJLHWUlJHU gO
(QHUJLHZHUW N:K PîD (QHUJLHZHUW 'HQNPDOVFKXW] (QHUJLHZHUW N:K PîD
:RKQJHElXGH EHGDUIVRULHQWLHUW ) %DXGHQNPlOHU JHP (Q(9 :RKQJHElXGH EHGDUIVRULHQWLHUW *
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
:DQIULHG
2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî
=LPPHU
*UXQGVWFN FD Pî
%DXMDKU
(QHUJLHWUlJHU gO
(QHUJLHZHUW N:K PîD
:RKQJHElXGH EHGDUIVRULHQWLHUW .ODVVH +
2EMHNWQXPPHU ),2
.DXISUHLV (85
+HUOHVKDXVHQ :DOGNDSSHO *URDOPHURGH
2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî :RKQIOlFKH FD Pî :RKQIOlFKH FD Pî
=LPPHU =LPPHU =LPPHU
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
%DXMDKU FD %DXMDKU %DXMDKU
(QHUJLHWUlJHU gO (QHUJLHWUlJHU (OHNWURHQHUJLH (QHUJLHWUlJHU gO
(QHUJLHZHUW N:K PîD (QHUJLHZHUW N:K PîD (QHUJLHZHUW 'HQNPDOVFKXW]
:RKQJHElXGH EHGDUIVRULHQWLHUW + :RKQJHElXGH EHGDUIVRULHQWLHUW + %DXGHQNPlOHU JHP (Q(9
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
:LW]HQKDXVHQ :LW]HQKDXVHQ 1HX (LFKHQEHUJ
2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV 2EMHNWDUW (LQIDPLOLHQKDXV
:RKQIOlFKH FD Pî :RKQIOlFKH FD Pî :RKQIOlFKH FD Pî
:RKQHLQKHLWHQ =LPPHU =LPPHU
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
%DXMDKU %DXMDKU %DXMDKU FD
(QHUJLHWUlJHU gO (QHUJLHWUlJHU (OHNWURHQHUJLH (QHUJLHWUlJHU gO
(QHUJLHZHUW N:K PîD (QHUJLHZHUW N:K PîD (QHUJLHZHUW N:K PîD
:RKQJHElXGH EHGDUIVRULHQWLHUW + :RKQJHElXGH EHGDUIVRULHQWLHUW * :RKQJHElXGH EHGDUIVRULHQWLHUW *
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
+HVVLVFK /LFKWHQDX
2EMHNWDUW =ZHLIDPLOLHQKDXV
:RKQIOlFKH FD Pî
=LPPHU
*UXQGVWFN FD Pî
%DXMDKU
(QHUJLHWUlJHU gO
(QHUJLHZHUW N:K PîD
:RKQJHElXGH EHGDUIVRULHQWLHUW .ODVVH *
2EMHNWQXPPHU ;;;;;;;;;;;;;;;;
.DXISUHLV (85
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
(VFKZHJH 2EHUGQ]HEDFK (VFKZHJH 1LHGHUGQ]HEDFK :DQIULHG $XH
2EMHNWDUW *UXQGVWFN IU 2EMHNWDUW *UXQGVWFN IU 2EMHNWDUW *UXQGVWFN IU
:RKQHQ )UHL]HLW :RKQHQ )UHL]HLW :RKQHQ :DOG
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
(UVFKOLHXQJ YROO HUVFKORVVHQ (UVFKOLHXQJ WHLOHUVFKORVVHQ (UVFKOLHXQJ YROO HUVFKORVVHQ
%DXJHQHKPLJXQJ ELVKHU QLFKW %DXJHQHKPLJXQJ ELVKHU QLFKW %DXJHQHKPLJXQJ ELVKHU QLFKW
HUWHLOW (UWHLOW HUWHLOW
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
:LW]HQKDXVHQ :LW]HQKDXVHQ 0HLQHU $EWHURGH
2EMHNWDUW *UXQGVWFN IU 2EMHNWDUW *UXQGVWFN IU 2EMHNWDUW *UXQGVWFN IU
:RKQHQ )UHL]HLW :RKQHQ )UHL]HLW :RKQHQ )UHL]HLW
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
(UVFKOLHXQJ WHLOHUVFKORVVHQ (UVFKOLHXQJ WHLOHUVFKORVVHQ (UVFKOLHXQJ YROO HUVFKORVVHQ
%DXJHQHKPLJXQJ ELVKHU QLFKW %DXJHQHKPLJXQJ ELVKHU QLFKW %DXJHQHKPLJXQJ ELVKHU QLFKW
HUWHLOW HUWHLOW HUWHLOW
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
0HLQKDUG *UHEHQGRUI 0HLQKDUG )ULHGD 0HLQHU $EWHURGH
2EMHNWDUW *UXQGVWFN IU 2EMHNWDUW *UXQGVWFN IU 2EMHNWDUW *UXQGVWFN IU
:RKQHQ )UHL]HLW :RKQHQ )UHL]HLW :RKQHQ )UHL]HLW
*UXQGVWFN FD Pî *UXQGVWFN FD Pî *UXQGVWFN FD Pî
(UVFKOLHXQJ YROO HUVFKORVVHQ (UVFKOLHXQJ YROO HUVFKORVVHQ (UVFKOLHXQJ YROO HUVFKORVVHQ
%DXJHQHKPLJXQJ ELVKHU QLFKW %DXJHQHKPLJXQJ ELVKHU QLFKW %DXJHQHKPLJXQJ ELVKHU QLFKW
HUWHLOW HUWHLOW HUWHLOW
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
:DQIULHG *UHEHQGRUI %HUNDWDO
2EMHNWDUW 0HKUIDPLOLHQKDXV 2EMHNWDUW 0HKUIDPLOLHQKDXV 2EMHNWDUW 0HKUIDPLOLHQKDXV
0LHWIOlFKH FD Pî :RKQIOlFKH FD Pî 0LHWIOlFKH FD Pî
:RKQHLQKHLWHQ :RKQHLQKHLWHQ :RKQHLQKHLWHQ
*HZHUEHHLQKHLWHQ -DKUHVNDOWPLHWH FD (85 *HZHUEHHLQKHLWHQ
%DXMDKU %DXMDKU %DXMDKU FD
(QHUJLHWUlJHU gO (QHUJLHWUlJHU *DV (QHUJLHWUlJHU *DV
(QHUJLHZHUW N:K PîD (QHUJLHZHUW N:K PîD (QHUJLHZHUW N:K PîD
:RKQJHElXGH EHGDUIVRULHQWLHUW ( :RKQJHElXGH YHUEUDXFKVRULHQWLHUW :RKQJHElXGH EHGDUIVRULHQWLHUW *
2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2 2EMHNWQXPPHU ),2
.DXISUHLV (85 .DXISUHLV (85 .DXISUHLV (85
(VFKZHJH
2EMHNWDUW 0HKUIDPLOLHQKDXV
)OlFKH FD Pî
(LQKHLWHQ
-DKUHVNDOWPLHWH FD (85
%DXMDKU
(QHUJLHWUlJHU *DV
(QHUJLHZHUW 'HQNPDOVFKXW]
%DXGHQNPlOHU JHP (Q(9
2EMHNWQXPPHU ),2
.DXISUHLV (85
%DG 6RRGHQ $OOHQGRUI
2EMHNWDUW 0HKUIDPLOLHQKDXV
:RKQIOlFKH FD Pî
(LQKHLWHQ
-DKUHVNDOWPLHWH FD (85
%DXMDKU (VFKZHJH
(QHUJLHWUlJHU gO 2EMHNWDUW %UR *HZHUEH
0LHWIOlFKH FD Pî
(QHUJLHZHUW N:K PîD :RKQHLQKHLWHQ
*HZHUEHHLQKHLW
:RKQJHElXGH YHUEUDXFKVRULHQWLHUW %DXMDKU
(QHUJLHWUlJHU
gO
2EMHNWQXPPHU ),2 (QHUJLHZHUW N:K PîD
1LFKWZRKQJHElXGH EHGDUIVRULHQWLHUW
.DXISUHLV (85 2EMHNWQXPPHU ),2
(85
.DXISUHLV
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
'DV N|QQHQ 6LH YRQ XQV HUZDUWHQ
(UVWHV .HQQHQOHUQHQ :LU VHW]HQ ,KUH
'LH HLQIDFKVWH 0|JOLFKNHLW ,PPRELOLH LQ 6]HQH
VLFK HLQHQ hEHUEOLFN EHU :LU HUVWHOOHQ IU 6LH
XQVHUH 'LHQVWOHLVWXQJHQ ]X SURIHVVLRQHOOH )RWRV XQG
YHUVFKDIIHQ ELHWHW ,KQHQ HLQ JHEHQ ,KQHQ 7LSSV ZLH ,KUH
XQYHUELQGOLFKHV ,PPRELOLH DP %HVWHQ ]XU
%HUDWXQJVJHVSUlFK LQ *HOWXQJ NRPPW
XQVHUHQ *HVFKlIWVVWHOOH
=XVDPPHQVWHOOHQ GHU 1HXH 7HFKQLN
8QWHUODJHQ :LU DUEHLWHQ DNWLY PLW
:LU VWHOOHQ DOOH UHOHYDQWHQ PRGHUQHU 7HFKQLN 'DUXQWHU
8QWHUODJHQ ]XVDPPHQ E]Z ]lKOHQ ] % $XIQDKPHQ PLW
EHVFKDIIHQ GLHVH EHL GHQ GHP +RFKVWDWLY GDV $UEHLWHQ
]XVWlQGLJHQ bPWHUQ XQG PLW HLQHU 'URKQH RGHU GLH
DFKWHQ DXI JHVHW]OLFKH (UVWHOOXQJ HLQHV
$QIRUGHUXQJHQ ,PPRELOLHQYLGHRV
,PPRELOLHQDQDO\VH XQG 3HUV|QOLFKH %HWUHXXQJ
0DUNWSUHLVHLQVFKlW]XQJ PLW IHVWHQ
:LU HUPLWWHOQ SURIHVVLRQHOO $QVSUHFKSDUWQHU
GHQ PDUNWJHUHFKWHQ :LU VLQG IU 6LH GD 'XUFK
9HUNDXIVSUHLV ,KUHU $NWLYLWlWVEHULFKWH
,PPRELOLH LQIRUPLHUHQ ZLU 6LH EHU GHQ
6WDQG GHU 9HUPDUNWXQJ
,QGLYLGXHOOH 0DUNHWLQJ 9HUNDXIVYHUKDQGOXQJHQ
XQG 9HUNDXIVVWUDWHJLH %OHLEHQ 6LH HQWVSDQQW :LU
:LU SODQHQ PDUNWJHUHFKW XQG IKUHQ GLH PDQFKPDO UHFKW
VWLPPHQ MHGHQ 6FKULWW PLW NQLIIHOLJHQ 9HUKDQGOXQJHQ LQ
,KQHQ DE LKUHP 6LQQH ELV ]XP
.DXIYHUWUDJVDEVFKOXVV
9HUPDUNWXQJ LP )LQDQ]LHUXQJV JHSUIWH
6SDUNDVVHQ 1HW]ZHUN .lXIHU
,QIRUPDWLRQHQ GHU 8QVHUH TXDOLIL]LHUWH %HUDWXQJ
6SDUNDVVHQPLWDUEHLWHU VFKW]W 6LH YRU E|VHQ
HLQH GLUHNWH $QVSUDFKH XQG hEHUUDVFKXQJHQ XQG VWHOOW
GLH ,QWHUDWLRQ LQ GLH VLFKHU GDVV 6LH LKU *HOG DXFK
6SDUNDVVHQILQDQ]JUXSSH ZLUNOLFK HUKDOWHQ
9HUPDUNWXQJ LKUHU :LU EHJOHLWHQ 6LH ]XP
,PPRELOLH LP ,QWHUQHW 1RWDUWHUPLQ
1HEHQ GHQ EOLFKHQ :LU HUOlXWHUQ ,KQHQ GHQ
3RUWDOHQ EHZHUEHQ ZLU ,KUH .DXIYHUWUDJ XQG NOlUHQ DOOH
,PPRELOLH H[NOXVLY DXI GHP RIIHQHQ )UDJHQ
6SDUNDVVHQLPPRELOLHQ 6HOEVWYHUVWlQGOLFK EHJOHLWHQ
3RUWDO ZLU 6LH ]XP 1RWDUWHUPLQ
*UXQGULVVDXIEHUHLWXQJ hEHUJDEH GHU
XQG 5XQGJDQJ ,PPRELOLH
%DVLHUHQG DXI GHQ 1DFK (LQJDQJ GHU =DKOXQJ
2ULJLQDOSOlQHQ HUVWHOOHQ ZLU GHV .DXISUHLVHV ZLUG GLH
DQVSUHFKHQGH *UXQGULVVH ,PPRELOLH DQ GHQ .lXIHU
RGHU QHKPHQ GLHVH QHX DXI EHUJHEHQ 'DEHL LVW HLQLJHV
$XFK 5XQGJlQJH ]X EHDFKWHQ :LU VWHKHQ
PDFKHQ ZLU P|JOLFK ,KQHQ GDEHL ]XU 6HLWH
'DV ,PPRELOLHQ 0DJD]LQ ,KUHU 6SDUNDVVHQ ,PPRELOLHQ :HUUD 0HLQHU
.RPSHWHQWH %HUDWXQJ LVW HLQIDFK
,KU 6SDUNDVVHQ ,PPRELOLHQ 7HDP VWHOOW VLFK YRU
0LFKDHO 6WDPPHO
&KULVWRI 0|OOHU ,PPRELOLHQPDNOHU
$JHQWXUOHLWHU
-HQQ\ +DUOILQJHU
VWHOOY
$JHQWXUOHLWHULQ
3HWHU (EHUKDUGW
,PPRELOLHQPDNOHU
7DWMDQD 6FKPLGWNH
9HUWULHEVDVVLVWHQ]
8QVHUH *HVFKlIWVVWHOOHQ
*HVFKlIWVVWHOOH *HVFKlIWVVWHOOH
(VFKZHJH :LW]HQKDXVHQ
)ULHGULFK :LOKHOP 6WUDH :DOEXUJHU 6WUDH
(VFKZHJH :LW]HQKDXVHQ
7HOHIRQ ( 0DLO ZHUUD PHLVVQHU#OEV LPPRELOLHQ GH
,PPRELOLH
LVW HLQIDFK
%HLP .DXI RGHU 9HUNDXI HLQHU ,PPRELOLH
VSULFKW DOOHV IU GHQ 0DUNWIKUHU
*HPHLQVDP PLW LKUHQ 3DUWQHUQ GHU 6SDUNDVVHQ
)LQDQ]JUXSSH LVW GLH /%6 ,PPRELOLHQ *PE+ DXI GHP
*HELHW GHU :RKQLPPRELOLHQYHUPLWWOXQJ GLH 1U LQ
'HXWVFKODQG .HLQ :XQGHU EHL
,PPRELOLHQYHUPLWWOXQJHQ EXQGHVZHLW
²
ZZZ OEV LPPRELOLHQ GH ZHUUD PHLVVQHU