# from 1 April 2020 to the 30 September 2020
|  |  |  |
| --- | --- | --- |
|  | Notes | Combined (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 567,860.23 |
| Interest on bonds, net of taxes | 1g | 232,894.21 |
| Interest on cash accounts |  | 5,884.91 |
| Other income |  | 200.54 |
| Total Income |  | 806,839.89 |
| Expenses |  |  |
| Management Fee | 4 | 796,075.17 |
| Hedging fee |  | 481.72 |
| Depositary fees |  | 105,571.96 |
| Subscription tax | 6 | 55,431.50 |
| Administration fees |  | 185,275.37 |
| Miscellaneous fees |  | 60,460.01 |
| Transaction fees |  | 62,987.04 |
| Overdraft interest |  | 36,385.74 |
| Taxes paid to foreign authorities |  | 4,050.56 |
| Total Expenses |  | 1,306,719.07 |
| Net Profit / (Loss) |  | -499,879.18 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -1,813,021.00 |
| - on currencies |  | -110,499.60 |
| - on forward exchange contracts |  | 881,678.23 |
| - on futures |  | -1,918,308.73 |
| Total Net Realised Profit / (Loss) |  | -3,460,030.28 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 20,060,044.18 |
| - on currencies |  | 1,992.11 |
| - on forward exchange contracts |  | -91,675.60 |
| - on futures |  | 1,059,300.77 |
| Result of operations |  | 17,569,631.18 |
| - Subscriptions |  | 21,508,371.52 |
| - Redemptions |  | -15,415,154.43 |
| Net changes in Net Assets |  | 23,662,848.27 |
| Net assets at the beginning of the period |  | 137,431,873.96 |
| Net assets at the end of the period |  | 161,094,722.23 |

|  |
| --- |
| Global Fund |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 18,181,648.97 |
| Cash at banks |  | 1,106,417.89 |
| Interest receivable on deposit |  | 0.00 |
| Interest receivable on bonds |  | 0.00 |
| Dividends receivable on shares |  | 27,760.03 |
| Unrealised gain on forward exchange contracts | 8 | 0.00 |
| Futures guaranty deposit | 7 | 2,132,000.00 |
| Total Assets |  | 21,447,826.89 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 100,419.35 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 388.99 |
| Interest payable on deposit |  | 0.00 |
| Amounts payable on redemptions |  | 0.00 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 0.00 |
| Futures Guaranty deposit | 7 | 0.00 |
| Total Liabilities |  | 100,808.34 |
| Net assets at the end of the period |  | 21,347,018.55 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - CAP |  | 21,454.125 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - CAP |  | 995.01 |

|  |
| --- |
| Tactical Fund |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 22,228,143.09 |
| Cash at banks |  | 1,534,454.34 |
| Interest receivable on deposit |  | 0.00 |
| Interest receivable on bonds |  | 73,398.40 |
| Dividends receivable on shares |  | 13,511.52 |
| Unrealised gain on forward exchange contracts | 8 | 0.00 |
| Futures guaranty deposit | 7 | 0.00 |
| Total Assets |  | 23,849,507.35 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 97,254.50 |
| Overdraft at banks |  | 688.58 |
| Overdraft interest |  | 364.31 |
| Interest payable on deposit |  | 0.00 |
| Amounts payable on redemptions |  | 0.00 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 0.00 |
| Futures Guaranty deposit | 7 | 0.00 |
| Total Liabilities |  | 98,307.39 |
| Net assets at the end of the period |  | 23,751,199.96 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A |  | 70.709 |
| - B |  | 138,658.540 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A |  | 157.01 |
| - B |  | 171.21 |

|  |
| --- |
| Quintillia Fund |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 3,795,625.31 |
| Cash at banks |  | 1,216,184.40 |
| Interest receivable on deposit |  | 26.18 |
| Interest receivable on bonds |  | 17,939.40 |
| Dividends receivable on shares |  | 954.87 |
| Unrealised gain on forward exchange contracts | 8 | 0.00 |
| Futures guaranty deposit | 7 | 0.00 |
| Total Assets |  | 5,030,730.16 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 20,564.49 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 81.55 |
| Interest payable on deposit |  | 965.50 |
| Amounts payable on redemptions |  | 0.00 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 0.00 |
| Futures Guaranty deposit | 7 | 0.00 |
| Total Liabilities |  | 21,611.54 |
| Net assets at the end of the period |  | 5,009,118.62 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A |  | 3,840.000 |
| - B |  | 11,728.000 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A |  | 999.89 |
| - B |  | 99.72 |

|  |
| --- |
| Logiver Indiciel Dynamique |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 69,940,002.94 |
| Cash at banks |  | 5,965,858.11 |
| Interest receivable on deposit |  | 0.00 |
| Interest receivable on bonds |  | 0.00 |
| Dividends receivable on shares |  | 0.00 |
| Unrealised gain on forward exchange contracts | 8 | 0.00 |
| Futures guaranty deposit | 7 | 340,821.08 |
| Total Assets |  | 76,246,682.13 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 56,352.55 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 1,943.73 |
| Interest payable on deposit |  | 0.00 |
| Amounts payable on redemptions |  | 23,722.25 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 97,133.11 |
| Futures Guaranty deposit | 7 | 3,124.41 |
| Total Liabilities |  | 182,276.05 |
| Net assets at the end of the period |  | 76,064,406.08 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - Instit 1-0,90 |  | 1,916.110 |
| - Retail 1-0,75 |  | 21,814.584 |
| - Retail 2-0,00 |  | 11,091.332 |
| - Retail 3-1,00 |  | 4,344.390 |
| - Retail 4-0,50 |  | 2,244.547 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - Instit 1-0,90 |  | 9,922.15 |
| - Retail 1-0,75 |  | 1,418.38 |
| - Retail 2-0,00 |  | 1,471.04 |
| - Retail 3-1,00 |  | 1,487.70 |
| - Retail 4-0,50 |  | 1,484.59 |

|  |
| --- |
| PBT - Global Asset Allocation |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 10,102,282.20 |
| Cash at banks |  | 2,256,336.83 |
| Interest receivable on deposit |  | 0.00 |
| Interest receivable on bonds |  | 6,274.96 |
| Dividends receivable on shares |  | 0.00 |
| Unrealised gain on forward exchange contracts | 8 | 0.00 |
| Futures guaranty deposit | 7 | 0.00 |
| Total Assets |  | 12,364,893.99 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 52,295.69 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 796.66 |
| Interest payable on deposit |  | 0.00 |
| Amounts payable on redemptions |  | 0.00 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 27,590.51 |
| Futures Guaranty deposit | 7 | 0.00 |
| Total Liabilities |  | 80,682.86 |
| Net assets at the end of the period |  | 12,284,211.13 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A CHF |  | 52,275.000 |
| - A EUR |  | 82,145.314 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A CHF |  | 93.45 |
| - A EUR |  | 94.39 |

|  |
| --- |
| Conviction Shares |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 16,856,856.38 |
| Cash at banks |  | 311,690.50 |
| Interest receivable on deposit |  | 0.00 |
| Interest receivable on bonds |  | 0.00 |
| Dividends receivable on shares |  | 1,185.92 |
| Unrealised gain on forward exchange contracts | 8 | 171,235.98 |
| Futures guaranty deposit | 7 | 0.00 |
| Total Assets |  | 17,340,968.78 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 76,253.50 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 164.43 |
| Interest payable on deposit |  | 0.00 |
| Amounts payable on redemptions |  | 17,394.40 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 0.00 |
| Futures Guaranty deposit | 7 | 0.00 |
| Total Liabilities |  | 93,812.33 |
| Net assets at the end of the period |  | 17,247,156.45 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A EUR |  | 165,848.000 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A EUR |  | 103.99 |

|  |
| --- |
| Short Term Crossover Bond |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 5,289,375.25 |
| Cash at banks |  | 48,359.46 |
| Interest receivable on deposit |  | 0.00 |
| Interest receivable on bonds |  | 74,896.00 |
| Dividends receivable on shares |  | 0.00 |
| Unrealised gain on forward exchange contracts | 8 | 0.00 |
| Futures guaranty deposit | 7 | 0.00 |
| Total Assets |  | 5,412,630.71 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 18,926.52 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 88.18 |
| Interest payable on deposit |  | 0.00 |
| Amounts payable on redemptions |  | 0.00 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 2,004.57 |
| Futures Guaranty deposit | 7 | 0.00 |
| Total Liabilities |  | 21,019.27 |
| Net assets at the end of the period |  | 5,391,611.44 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A EUR |  | 4,225.000 |
| - BH CHF |  | 1,025.000 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A EUR |  | 1,040.68 |
| - BH CHF |  | 1,045.54 |

|  |
| --- |
| Global Fund |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 190,558.28 |
| Interest on bonds, net of taxes | 1g | 0.00 |
| Interest on cash accounts |  | 2,142.81 |
| Other income |  | 138.43 |
| Total Income |  | 192,839.52 |
| Expenses |  |  |
| Management Fee | 4 | 142,651.70 |
| Hedging fee |  | 0.00 |
| Depositary fees |  | 10,260.12 |
| Subscription tax | 6 | 3,391.61 |
| Administration fees |  | 32,195.43 |
| Miscellaneous fees |  | 10,206.38 |
| Transaction fees |  | 10,229.61 |
| Overdraft interest |  | 6,790.03 |
| Taxes paid to foreign authorities |  | 2,550.25 |
| Total Expenses |  | 218,275.13 |
| Net Profit / (Loss) |  | -25,435.61 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 1,485,604.38 |
| - on currencies |  | -70,798.71 |
| - on forward exchange contracts |  | 0.00 |
| - on futures |  | -144,990.00 |
| Total Net Realised Profit / (Loss) |  | 1,244,380.06 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 1,258,388.67 |
| - on currencies |  | 0.51 |
| - on forward exchange contracts |  | 0.00 |
| - on futures |  | 538,000.00 |
| Result of operations |  | 3,040,769.24 |
| - Subscriptions |  | 38,792.36 |
| - Redemptions |  | -8,985,465.50 |
| Net changes in Net Assets |  | -5,905,903.90 |
| Net assets at the beginning of the period |  | 27,252,922.45 |
| Net assets at the end of the period |  | 21,347,018.55 |

|  |
| --- |
| Tactical Fund |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 238,513.40 |
| Interest on bonds, net of taxes | 1g | 112,343.78 |
| Interest on cash accounts |  | 172.86 |
| Other income |  | 26.33 |
| Total Income |  | 351,056.37 |
| Expenses |  |  |
| Management Fee | 4 | 154,492.43 |
| Hedging fee |  | 0.00 |
| Depositary fees |  | 10,670.12 |
| Subscription tax | 6 | 5,987.86 |
| Administration fees |  | 39,794.85 |
| Miscellaneous fees |  | 10,678.90 |
| Transaction fees |  | 15,822.21 |
| Overdraft interest |  | 1,408.98 |
| Taxes paid to foreign authorities |  | 1,500.31 |
| Total Expenses |  | 240,355.66 |
| Net Profit / (Loss) |  | 110,700.71 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -2,132,912.59 |
| - on currencies |  | -9,661.69 |
| - on forward exchange contracts |  | 0.00 |
| - on futures |  | 0.00 |
| Total Net Realised Profit / (Loss) |  | -2,031,873.57 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 4,595,355.47 |
| - on currencies |  | 5,081.75 |
| - on forward exchange contracts |  | 0.00 |
| - on futures |  | 0.00 |
| Result of operations |  | 2,568,563.65 |
| - Subscriptions |  | 0.00 |
| - Redemptions |  | -1,145,124.80 |
| Net changes in Net Assets |  | 1,423,438.85 |
| Net assets at the beginning of the period |  | 22,327,761.11 |
| Net assets at the end of the period |  | 23,751,199.96 |

|  |
| --- |
| Quintillia Fund |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 13,106.40 |
| Interest on bonds, net of taxes | 1g | 26,222.56 |
| Interest on cash accounts |  | 376.08 |
| Other income |  | 0.00 |
| Total Income |  | 39,705.04 |
| Expenses |  |  |
| Management Fee | 4 | 29,903.85 |
| Hedging fee |  | 0.00 |
| Depositary fees |  | 5,013.70 |
| Subscription tax | 6 | 985.77 |
| Administration fees |  | 13,135.64 |
| Miscellaneous fees |  | 1,883.46 |
| Transaction fees |  | 2,755.98 |
| Overdraft interest |  | 2,533.87 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 56,212.27 |
| Net Profit / (Loss) |  | -16,507.23 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -7,744.43 |
| - on currencies |  | 10,021.23 |
| - on forward exchange contracts |  | 0.00 |
| - on futures |  | 0.00 |
| Total Net Realised Profit / (Loss) |  | -14,230.43 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 66,612.21 |
| - on currencies |  | -8,807.07 |
| - on forward exchange contracts |  | 0.00 |
| - on futures |  | 0.00 |
| Result of operations |  | 43,574.71 |
| - Subscriptions |  | 0.00 |
| - Redemptions |  | -162,228.38 |
| Net changes in Net Assets |  | -118,653.67 |
| Net assets at the beginning of the period |  | 5,127,772.29 |
| Net assets at the end of the period |  | 5,009,118.62 |

|  |
| --- |
| Logiver Indiciel Dynamique |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 0.00 |
| Interest on bonds, net of taxes | 1g | 0.00 |
| Interest on cash accounts |  | 3,109.48 |
| Other income |  | 35.78 |
| Total Income |  | 3,145.26 |
| Expenses |  |  |
| Management Fee | 4 | 266,446.99 |
| Hedging fee |  | 0.00 |
| Depositary fees |  | 55,939.07 |
| Subscription tax | 6 | 37,769.48 |
| Administration fees |  | 35,207.11 |
| Miscellaneous fees |  | 24,024.23 |
| Transaction fees |  | 4,917.12 |
| Overdraft interest |  | 19,618.36 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 443,922.36 |
| Net Profit / (Loss) |  | -440,777.10 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -486,839.59 |
| - on currencies |  | -6,025.06 |
| - on forward exchange contracts |  | 734,266.33 |
| - on futures |  | -1,615,725.51 |
| Total Net Realised Profit / (Loss) |  | -1,815,100.93 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 9,369,393.04 |
| - on currencies |  | -624.11 |
| - on forward exchange contracts |  | -97,133.11 |
| - on futures |  | 656,790.74 |
| Result of operations |  | 8,113,325.63 |
| - Subscriptions |  | 9,160,621.82 |
| - Redemptions |  | -3,907,781.76 |
| Net changes in Net Assets |  | 13,366,165.69 |
| Net assets at the beginning of the period |  | 62,698,240.39 |
| Net assets at the end of the period |  | 76,064,406.08 |

|  |
| --- |
| PBT - Global Asset Allocation |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 59,340.53 |
| Interest on bonds, net of taxes | 1g | 38,827.53 |
| Interest on cash accounts |  | 66.80 |
| Other income |  | 0.00 |
| Total Income |  | 98,234.86 |
| Expenses |  |  |
| Management Fee | 4 | 83,025.19 |
| Hedging fee |  | 0.00 |
| Depositary fees |  | 7,848.05 |
| Subscription tax | 6 | 1,966.69 |
| Administration fees |  | 24,279.50 |
| Miscellaneous fees |  | 7,049.31 |
| Transaction fees |  | 2,520.05 |
| Overdraft interest |  | 4,275.99 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 130,964.78 |
| Net Profit / (Loss) |  | -32,729.92 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -277,179.99 |
| - on currencies |  | -50,003.70 |
| - on forward exchange contracts |  | 168,236.95 |
| - on futures |  | 0.00 |
| Total Net Realised Profit / (Loss) |  | -191,676.66 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 1,258,221.80 |
| - on currencies |  | 6,330.14 |
| - on forward exchange contracts |  | -163,773.90 |
| - on futures |  | 0.00 |
| Result of operations |  | 909,101.38 |
| - Subscriptions |  | 265,335.25 |
| - Redemptions |  | -63,111.10 |
| Net changes in Net Assets |  | 1,111,325.53 |
| Net assets at the beginning of the period |  | 11,172,885.60 |
| Net assets at the end of the period |  | 12,284,211.13 |

|  |
| --- |
| Conviction Shares |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 66,341.62 |
| Interest on bonds, net of taxes | 1g | 0.00 |
| Interest on cash accounts |  | 16.52 |
| Other income |  | 0.00 |
| Total Income |  | 66,358.14 |
| Expenses |  |  |
| Management Fee | 4 | 101,872.77 |
| Hedging fee |  | 0.00 |
| Depositary fees |  | 11,551.28 |
| Subscription tax | 6 | 4,003.22 |
| Administration fees |  | 22,498.45 |
| Miscellaneous fees |  | 3,491.09 |
| Transaction fees |  | 19,458.50 |
| Overdraft interest |  | 838.67 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 163,713.98 |
| Net Profit / (Loss) |  | -97,355.84 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -421,286.18 |
| - on currencies |  | 12,178.41 |
| - on forward exchange contracts |  | 0.00 |
| - on futures |  | -157,593.22 |
| Total Net Realised Profit / (Loss) |  | -664,056.83 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 3,328,463.84 |
| - on currencies |  | 10.36 |
| - on forward exchange contracts |  | 171,235.98 |
| - on futures |  | -135,489.97 |
| Result of operations |  | 2,700,163.38 |
| - Subscriptions |  | 6,846,143.84 |
| - Redemptions |  | -1,151,442.89 |
| Net changes in Net Assets |  | 8,394,864.33 |
| Net assets at the beginning of the period |  | 8,852,292.12 |
| Net assets at the end of the period |  | 17,247,156.45 |

|  |
| --- |
| Short Term Crossover Bond |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 0.00 |
| Interest on bonds, net of taxes | 1g | 55,500.34 |
| Interest on cash accounts |  | 0.36 |
| Other income |  | 0.00 |
| Total Income |  | 55,500.70 |
| Expenses |  |  |
| Management Fee | 4 | 17,682.24 |
| Hedging fee |  | 481.72 |
| Depositary fees |  | 4,289.62 |
| Subscription tax | 6 | 1,326.87 |
| Administration fees |  | 18,164.39 |
| Miscellaneous fees |  | 3,126.64 |
| Transaction fees |  | 7,283.57 |
| Overdraft interest |  | 919.84 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 53,274.89 |
| Net Profit / (Loss) |  | 2,225.81 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 27,337.40 |
| - on currencies |  | 3,789.92 |
| - on forward exchange contracts |  | -20,825.05 |
| - on futures |  | 0.00 |
| Total Net Realised Profit / (Loss) |  | 12,528.08 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 183,609.15 |
| - on currencies |  | 0.53 |
| - on forward exchange contracts |  | -2,004.57 |
| - on futures |  | 0.00 |
| Result of operations |  | 194,133.19 |
| - Subscriptions |  | 5,197,478.25 |
| - Redemptions |  | 0.00 |
| Net changes in Net Assets |  | 5,391,611.44 |
| Net assets at the beginning of the period |  | 0.00 |
| Net assets at the end of the period |  | 5,391,611.44 |

|  |
| --- |
| Global Fund |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| NESTLE -REG- | 9,600 | CHF | 828,454.28 | 962,000.09 | 4.51% |
| ROCHE HLDG A.G. -PARTICIPATION CERTIFICATE- | 2,200 | CHF | 560,908.14 | 675,920.18 | 3.17% |
| Total SWISS FRANC |  |  | 1,389,362.42 | 1,637,920.27 | 7.67% |
| ANHEUSER-BUSCH INBEV | 17,500 | EUR | 740,930.64 | 783,650.00 | 3.67% |
| DANONE | 12,000 | EUR | 759,840.00 | 652,800.00 | 3.06% |
| DEUTSCHE BETEILIGUNGS A.G. -REG- | 2,000 | EUR | 81,001.06 | 61,800.00 | 0.29% |
| FRESENIUS SE & CO KGAA | 12,000 | EUR | 407,023.90 | 460,200.00 | 2.16% |
| SANOFI S.A. S.A. | 10,000 | EUR | 788,356.36 | 871,400.00 | 4.08% |
| UNILEVER N.V. | 27,000 | EUR | 1,253,842.23 | 1,365,660.00 | 6.40% |
| Total EURO |  |  | 4,030,994.19 | 4,195,510.00 | 19.65% |
| ASTRAZENECA PLC | 9,400 | GBP | 672,598.00 | 878,805.02 | 4.12% |
| DIAGEO PLC | 38,000 | GBP | 1,092,847.64 | 1,041,419.99 | 4.88% |
| Total BRITISH POUND |  |  | 1,765,445.64 | 1,920,225.01 | 9.00% |
| BRISTOL-MYERS SQUIBB | 15,500 | USD | 826,132.06 | 775,632.49 | 3.63% |
| GLAXOSMITHKLINE PLC -ADR- | 24,000 | USD | 804,504.75 | 770,688.54 | 3.61% |
| NVIDIA CORP | 2,000 | USD | 574,476.90 | 848,623.34 | 3.98% |
| Total U.S. DOLLAR |  |  | 2,205,113.71 | 2,394,944.37 | 11.22% |
| Total Shares & Related Securities |  |  | 9,390,915.96 | 10,148,599.65 | 47.54% |
| Money market instruments |  |  |  |  |  |
| US TREASURY 0,00 20-291020 | 200,000 | USD | 182,517.12 | 171,799.32 | 0.80% |
| Total U.S. DOLLAR |  |  | 182,517.12 | 171,799.32 | 0.80% |
| Total Money market instruments |  |  | 182,517.12 | 171,799.32 | 0.80% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 9,573,433.08 | 10,320,398.97 | 48.35% |
| Investment funds |  |  |  |  |  |
| AMUNDI IS EURO STOXX 50 -C- -CAP- | 55,000 | EUR | 3,402,413.66 | 3,951,750.00 | 18.51% |
| LYXOR INDEX FUND EURO STOXX 50 | 25,000 | EUR | 3,317,280.72 | 3,909,500.00 | 18.31% |
| Total EURO |  |  | 6,719,694.38 | 7,861,250.00 | 36.83% |
| Total Investment funds |  |  | 6,719,694.38 | 7,861,250.00 | 36.83% |
| Other Transferable Securities |  |  |  |  |  |

Global Fund
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
| --- | --- | --- | --- | --- | --- |

| CELESTIAL NUTRIFOODS LTD | 767,000 | SGD | 142,226.68 | 0.00 | 0.00% |
| --- | --- | --- | --- | --- | --- |
| Total SINGAPORE DOLLAR | 142,226.68 | 0.00 | 0.00% |
| Total Other Transferable Securities | 142,226.68 | 0.00 | 0.00% |
| Total Portfolio | 16,435,354.14 | 18,181,648.97 | 85.17% |

|  |
| --- |
| Tactical Fund |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| CENOVUS ENERGY INC. | 22,000 | CAD | 230,724.70 | 72,895.59 | 0.31% |
| Total CANADIAN DOLLAR |  |  | 230,724.70 | 72,895.59 | 0.31% |
| ADECCO S.A. -REG- | 14,700 | CHF | 847,705.86 | 664,218.68 | 2.80% |
| ARYZTA A.G. | 321,000 | CHF | 894,697.19 | 180,857.66 | 0.76% |
| LAFARGE-HOLCIM LTD | 7,484 | CHF | 357,752.61 | 291,690.87 | 1.23% |
| Total SWISS FRANC |  |  | 2,100,155.66 | 1,136,767.21 | 4.79% |
| CESKE ENERGETICKE ZAVODY A.S. (CEZ) (CEZ) | 14,060 | CZK | 290,799.44 | 226,820.24 | 0.95% |
| Total CZECH KORUNA |  |  | 290,799.44 | 226,820.24 | 0.95% |
| A2A SpA | 250,000 | EUR | 297,480.00 | 310,000.00 | 1.31% |
| ADMIE CO HLDG S.A. | 232,000 | EUR | 343,325.45 | 544,040.00 | 2.29% |
| AEGON N.V. | 248,338 | EUR | 1,340,740.05 | 551,310.36 | 2.32% |
| ALPHA BANK AE | 189,655 | EUR | 375,421.93 | 98,241.29 | 0.41% |
| ATRESMEDIA CORP. | 100,000 | EUR | 277,320.00 | 225,600.00 | 0.95% |
| AUTOGRILL SpA | 33,000 | EUR | 203,275.20 | 127,380.00 | 0.54% |
| BANCO BPM SpA | 148,018 | EUR | 728,736.06 | 213,886.01 | 0.90% |
| BANK OF CYPRUS HLDG PLC | 110,751 | EUR | 722,771.23 | 49,339.57 | 0.21% |
| BASTIDE LE CONFORT MEDICAL S.A. | 16,219 | EUR | 335,730.32 | 782,566.75 | 3.29% |
| BILFINGER SE | 16,530 | EUR | 698,240.54 | 257,702.70 | 1.09% |
| BOLLORE | 200,060 | EUR | 476,903.03 | 637,791.28 | 2.69% |
| CAIRO MEZZ PLC | 25,000 | EUR | 0.00 | 1,797.50 | 0.01% |
| CATERING INTERNATIONAL SERVICES | 15,414 | EUR | 200,673.40 | 161,847.00 | 0.68% |
| CIMENTS VICAT | 11,156 | EUR | 711,746.19 | 318,503.80 | 1.34% |
| COMMERZBANK A.G. | 74,440 | EUR | 787,679.26 | 312,126.92 | 1.31% |
| DEUTSCHE BANK -REG- | 60,000 | EUR | 1,451,274.24 | 431,400.00 | 1.82% |
| ELIOR SCA | 40,289 | EUR | 303,459.33 | 159,544.44 | 0.67% |
| ERYTECH PHARMACEUTICAL | 9,000 | EUR | 205,678.40 | 46,350.00 | 0.20% |
| EUROBANK HLDG S.A. | 300,000 | EUR | 154,072.00 | 113,190.00 | 0.48% |
| EXPERT SYSTEM SpA | 40,000 | EUR | 94,269.28 | 92,000.00 | 0.39% |
| FOURLIS HLDG S.A. | 14,770 | EUR | 63,320.47 | 55,830.60 | 0.24% |
| FRAPORT A.G. | 10,000 | EUR | 433,556.00 | 337,800.00 | 1.42% |
| HIGH CO | 116,901 | EUR | 731,339.08 | 522,547.47 | 2.20% |
| LA FRANCAISE DE L'ENERGIE S.A. | 11,317 | EUR | 101,821.37 | 174,281.80 | 0.73% |
| LEONARDO SPA | 40,000 | EUR | 356,431.00 | 200,000.00 | 0.84% |
| MAISONS DU MONDE S.A | 7,770 | EUR | 240,459.55 | 99,766.80 | 0.42% |
| MOTA-ENGIL SGPS S.A. | 150,000 | EUR | 194,100.00 | 162,600.00 | 0.68% |
| NATIONAL BANK OF GREECE S.A. | 300,000 | EUR | 1,077,508.86 | 324,000.00 | 1.36% |
| NOS SGPS | 85,000 | EUR | 264,928.00 | 257,550.00 | 1.08% |
| PROSIEBENSAT.1 MEDIA SE | 37,172 | EUR | 906,129.37 | 416,512.26 | 1.75% |
| RENAULT S.A. S.A. | 11,600 | EUR | 981,797.32 | 257,462.00 | 1.08% |
| ROYAL DUTCH SHELL PLC -A- | 9,661 | EUR | 267,577.48 | 104,126.26 | 0.44% |
| SAFRAN S.A. -PREF NOM- | 16,864 | EUR | 1,423,801.65 | 1,423,996.16 | 6.00% |

Tactical Fund
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
| --- | --- | --- | --- | --- | --- |

| SAIPEM SpA | 130,000 | EUR | 506,690.00 | 190,775.00 | 0.80% |
| --- | --- | --- | --- | --- | --- |
| SERVIZI ITALIA SpA | 51,797 | EUR | 203,223.94 | 108,773.70 | 0.46% |
| THE NAVIGATOR CO S.A. | 75,000 | EUR | 224,158.60 | 159,300.00 | 0.67% |
| TOTAL SE | 20,472 | EUR | 673,777.60 | 597,782.40 | 2.52% |
| VALEO S.A. | 24,400 | EUR | 730,255.24 | 640,500.00 | 2.70% |
| VILMORIN ET CIE | 12,240 | EUR | 579,762.62 | 610,776.00 | 2.57% |
| WEBUILD SpA | 300,000 | EUR | 460,254.00 | 299,700.00 | 1.26% |
| Total EURO |  |  | 20,129,688.06 | 12,378,698.07 | 52.12% |
| BIFFA PLC | 89,467 | GBP | 202,431.23 | 214,531.43 | 0.90% |
| BT GROUP PLC | 309,399 | GBP | 1,067,276.20 | 335,578.79 | 1.41% |
| CAPITA PLC | 150,000 | GBP | 361,439.85 | 50,553.99 | 0.21% |
| HSS HIRE GROUP PLC | 128,660 | GBP | 49,006.42 | 25,815.69 | 0.11% |
| KIER GROUP PLC | 58,969 | GBP | 38,834.11 | 31,660.77 | 0.13% |
| MITIE GROUPE PLCE PLC | 302,722 | GBP | 110,395.69 | 109,467.86 | 0.46% |
| PETROFAC LTD | 39,200 | GBP | 217,169.81 | 48,165.37 | 0.20% |
| RENEWI PLC | 320,458 | GBP | 197,969.28 | 68,610.26 | 0.29% |
| VECTURA GROUP PLC | 117,692 | GBP | 155,015.59 | 133,645.07 | 0.56% |
| Total BRITISH POUND |  |  | 2,399,538.18 | 1,018,029.23 | 4.29% |
| ENEA S.A. | 100,000 | PLN | 207,698.45 | 125,719.58 | 0.53% |
| KRUK S.A. | 6,000 | PLN | 263,540.55 | 173,625.36 | 0.73% |
| Total POLISH ZLOTY |  |  | 471,239.00 | 299,344.94 | 1.26% |
| ACADEMEDIA AB | 80,948 | SEK | 486,534.36 | 569,977.58 | 2.40% |
| ATTENDO AB | 65,381 | SEK | 299,917.64 | 304,252.69 | 1.28% |
| TELEFONAB ERICSSON -B- FRIA | 14,500 | SEK | 143,179.39 | 135,781.42 | 0.57% |
| Total SWEDISH KRONA |  |  | 929,631.39 | 1,010,011.69 | 4.25% |
| ENEL AMERICAS S.A. -ADR- | 44,500 | USD | 285,827.02 | 245,145.61 | 1.03% |
| MTN GROUP LTD -SPONSORED -ADR- - | 40,000 | USD | 302,695.84 | 116,658.85 | 0.49% |
| TELECOM ARGENTINA -SPONSORED -ADR- - | 36,000 | USD | 670,590.42 | 200,776.02 | 0.85% |
| Total U.S. DOLLAR |  |  | 1,259,113.28 | 562,580.48 | 2.37% |
| Total Shares & Related Securities |  |  | 27,810,889.71 | 16,705,147.45 | 70.33% |
| Bonds |  |  |  |  |  |
| ASTALDI SpA CV 4,875 17-210624 | 300,000 | EUR | 299,400.00 | 30,556.50 | 0.13% |
| AXA FRN 04-PERPETUAL | 250,000 | EUR | 144,750.00 | 183,008.75 | 0.77% |
| BNP PARIBAS S.A. FRN 85-PERPETUAL | 500,000 | EUR | 280,000.00 | 317,525.00 | 1.34% |
| BOLLORE 2,875 15-290721 | 300,000 | EUR | 310,380.00 | 303,127.50 | 1.28% |
| CASINO GUICHARD-PERRACHON FRN 05-PERPETUAL | 850,000 | EUR | 527,015.00 | 186,596.25 | 0.79% |
| ELLAKTOR VALUE PLC 6,375 19-151224 | 200,000 | EUR | 193,450.00 | 174,567.00 | 0.73% |
| ERAMET 4,196 17-280224 | 300,000 | EUR | 295,800.00 | 229,012.50 | 0.96% |
| GREECE 3,50 17-300123 | 3,975 | EUR | 2,398.00 | 4,283.22 | 0.02% |
| GREECE FRN 12-151042 | 315,000 | EUR | 6,715.63 | 987.53 | 0.00% |
| ING GROUP FRN 04-PERPETUAL | 900,000 | EUR | 562,250.00 | 771,012.00 | 3.25% |

Tactical Fund
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
| --- | --- | --- | --- | --- | --- |

| K+S A.G. 2,625 17-060423 | 200,000 | EUR | 192,500.00 | 189,198.00 | 0.80% |
| --- | --- | --- | --- | --- | --- |
| PAPREC HLDG FRN 18-310325 | 350,000 | EUR | 326,200.00 | 329,070.00 | 1.39% |
| RALLYE S.A. 5,25 16-010222 | 300,000 | EUR | 299,700.00 | 36,423.00 | 0.15% |
| SELECTA GROUP B.V. 5,875 18-010224 | 300,000 | EUR | 298,650.00 | 163,548.00 | 0.69% |
| TELECOM ITALIA SpA 5,25 05-170355 | 300,000 | EUR | 237,744.00 | 354,130.50 | 1.49% |
| TUI A.G. 2,125 16-261021 | 500,000 | EUR | 498,000.00 | 458,460.00 | 1.93% |
| VALLOUREC S.A. 2,25 14-300924 | 200,000 | EUR | 161,200.00 | 109,938.00 | 0.46% |
| VALLOUREC S.A. 4,125 17-041022 | 45,000 | EUR | 331,200.00 | 157,747.50 | 0.66% |
| WEBUILD SpA 3,625 20-280127 | 300,000 | EUR | 252,720.00 | 244,998.00 | 1.03% |
| Total EURO |  |  | 5,220,072.63 | 4,244,189.25 | 17.87% |
| MTN INVESTMENTS LTD 4,755 14-111124 | 350,000 | USD | 280,512.94 | 306,796.57 | 1.29% |
| OI S.A. 10,00 18-270725 | 300,000 | USD | 242,498.89 | 247,834.82 | 1.04% |
| Total U.S. DOLLAR |  |  | 523,011.83 | 554,631.39 | 2.34% |
| Total Bonds |  |  | 5,743,084.46 | 4,798,820.64 | 20.20% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 33,553,974.17 | 21,503,968.09 | 90.54% |
| Other Transferable Securities |  |  |  |  |  |
| ABENGOA ABENEWCO 2 SAU 19-111024 | 99,373 | EUR | 111,445.84 | 0.00 | 0.00% |
| ABENGOA ABENEWCO 2 SAU 19-111024 | 99,373 | EUR | 111,445.83 | 0.00 | 0.00% |
| BMPS-BANK OF NEW YORK FRN 08-301299 | 5,000,000 | EUR | 1,113,600.00 | 253,950.00 | 1.07% |
| FF GROUP FINANCE 1,75 14-030719 | 900,000 | EUR | 864,300.00 | 73,962.00 | 0.31% |
| UNICREDIT-MITSUBISHI FRN 09-151250 | 700,000 | EUR | 509,500.00 | 396,263.00 | 1.67% |
| Total EURO |  |  | 2,710,291.67 | 724,175.00 | 3.05% |
| THOMAS COOK GROUP PLC | 388,000 | GBP | 208,152.61 | 0.00 | 0.00% |
| Total BRITISH POUND |  |  | 208,152.61 | 0.00 | 0.00% |
| ABENGOA ABENEWCO 2 SAU 19-111024 | 99,893 | USD | 0.00 | 0.00 | 0.00% |
| ABENGOA ABENEWCO 2 SAU 19-111024 | 99,893 | USD | 0.00 | 0.00 | 0.00% |
| Total U.S. DOLLAR |  |  | 0.00 | 0.00 | 0.00% |
| Total Other Transferable Securities |  |  | 2,918,444.28 | 724,175.00 | 3.05% |
| Total Portfolio |  |  | 36,472,418.45 | 22,228,143.09 | 93.59% |

|  |
| --- |
| Quintillia Fund |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| ALCON S.A. | 175 | CHF | 0.00 | 8,529.87 | 0.17% |
| NOVARTIS -REG- | 875 | CHF | 55,944.69 | 65,147.52 | 1.30% |
| ROCHE HLDG A.G. -PARTICIPATION CERTIFICATE- | 300 | CHF | 71,902.21 | 88,845.73 | 1.77% |
| Total SWISS FRANC |  |  | 127,846.90 | 162,523.12 | 3.24% |
| BANQUE NATIONALE DE BELGIUM | 19 | EUR | 49,254.06 | 34,295.00 | 0.68% |
| K+S A.G. | 2,333 | EUR | 46,536.32 | 13,246.77 | 0.26% |
| SANOFI S.A. S.A. | 883 | EUR | 63,709.12 | 76,096.94 | 1.52% |
| Total EURO |  |  | 159,499.50 | 123,638.71 | 2.47% |
| C.P. POKPHAND CO LTD | 700,183 | HKD | 68,550.81 | 56,990.25 | 1.14% |
| CK ASSET HLDG LTD | 3,762 | HKD | 0.00 | 15,579.05 | 0.31% |
| CK HUTCHISON HLDG LTD | 5,762 | HKD | 63,170.75 | 29,470.23 | 0.59% |
| Total HONG KONG DOLLAR |  |  | 131,721.56 | 102,039.53 | 2.04% |
| KYOCERA CORP. | 1,080 | JPY | 46,327.52 | 53,118.06 | 1.06% |
| MITSUBISHI HEAVY INDUSTRIES LTD | 1,830 | JPY | 63,040.17 | 35,977.15 | 0.72% |
| TOKYO GAS CO LTD | 2,500 | JPY | 46,500.37 | 49,280.17 | 0.98% |
| TREND MICRO INC. | 1,330 | JPY | 28,444.91 | 69,189.85 | 1.38% |
| Total JAPANESE YEN |  |  | 184,312.97 | 207,565.23 | 4.14% |
| YARA INTERNATIONAL | 1,625 | NOK | 51,120.21 | 52,685.63 | 1.05% |
| Total NORWEGIAN KRONE |  |  | 51,120.21 | 52,685.63 | 1.05% |
| Total Shares & Related Securities |  |  | 654,501.14 | 648,452.22 | 12.95% |
| Bonds |  |  |  |  |  |
| CIE SAINT GOBAIN 0,625 19-150324 | 200,000 | EUR | 196,866.00 | 204,399.00 | 4.08% |
| LOUIS DREYFUS COMPANY 4,00 17-070222 | 100,000 | EUR | 100,600.00 | 101,508.50 | 2.03% |
| MEDTRONIC GLOBAL HLDG 1,125 19-070327 | 100,000 | EUR | 99,552.00 | 105,508.00 | 2.11% |
| SYNGENTA FINANCE FRN 20-160426 | 200,000 | EUR | 198,402.00 | 215,529.00 | 4.30% |
| Total EURO |  |  | 595,420.00 | 626,944.50 | 12.52% |
| INTERNATIONAL FINANCE CORP. 8,25 14-100621 | 8,000,000 | INR | 100,084.33 | 94,001.71 | 1.88% |
| Total INDIAN RUPEE |  |  | 100,084.33 | 94,001.71 | 1.88% |
| BANK OF AMERICA 3,248 16-211027 | 150,000 | USD | 136,462.89 | 141,548.03 | 2.83% |
| BAXTER INTERNATIONAL INC. 3,50 16-150846 | 200,000 | USD | 177,221.02 | 196,654.16 | 3.93% |
| BNG BANK N.V. 3,125 18-081121 | 200,000 | USD | 175,801.47 | 175,875.03 | 3.51% |

Quintillia Fund
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
| --- | --- | --- | --- | --- | --- |

| US TREASURY 1,625 19-311221 | 600,000 | USD | 554,944.37 | 521,075.31 | 10.40% |
| --- | --- | --- | --- | --- | --- |
| US TREASURY 2,875 18-150528 | 200,000 | USD | 173,069.26 | 201,003.22 | 4.01% |
| Total U.S. DOLLAR |  |  | 1,217,499.01 | 1,236,155.75 | 24.68% |
| Total Bonds |  |  | 1,913,003.34 | 1,957,101.96 | 39.07% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 2,567,504.48 | 2,605,554.18 | 52.02% |
| Investment funds |  |  |  |  |  |
| DPAM MONEY MARKET L MONETARY EUR -B- -CAP- | 1,578 | EUR | 773,682.02 | 764,438.43 | 15.26% |
| PICTET-ABSOLUTE RETURN FIX HI EUR | 1,800 | EUR | 201,330.00 | 201,690.00 | 4.03% |
| PICTET TOTAL RETURN DIVERS ALPHA P | 1,870 | EUR | 196,350.00 | 207,962.70 | 4.15% |
| Total EURO |  |  | 1,171,362.02 | 1,174,091.13 | 23.44% |
| Total Investment funds |  |  | 1,171,362.02 | 1,174,091.13 | 23.44% |
| Options |  |  |  |  |  |
| PUT STOXX EUROPE 600 DÉCEMBRE 2020 ST 330 | 47 | EUR | 63,450.00 | 15,980.00 | 0.32% |
| Total EURO |  |  | 63,450.00 | 15,980.00 | 0.32% |
| Total Options |  |  | 63,450.00 | 15,980.00 | 0.32% |
| Total Portfolio |  |  | 3,802,316.50 | 3,795,625.31 | 75.77% |

|  |
| --- |
| Logiver Indiciel Dynamique |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Investment funds |  |  |  |  |  |
| DIMENSIONAL EUROPEAN SMALL -B- -CAP- | 63,683 | EUR | 1,880,992.03 | 2,194,526.24 | 2.89% |
| DIMENSIONAL EUROPE VALUE -B- EUR -CAP- | 719,346 | EUR | 6,938,909.23 | 6,948,884.57 | 9.14% |
| DIMENSIONAL GLOBAL SUS CORE EQUIT. -EA- | 109,751 | EUR | 2,418,920.00 | 2,211,489.92 | 2.91% |
| DIMENSIONAL GLOBAL VALUE FUND EUR | 242,370 | EUR | 2,700,000.00 | 2,612,746.85 | 3.43% |
| DIMENSIONAL-GL TARGETED VAL -B- -CAP- | 116,624 | EUR | 2,472,880.32 | 2,150,537.99 | 2.83% |
| DIMENSIONAL II MK TARGET -B- EUR -CAP- | 136,186 | EUR | 2,563,900.00 | 2,198,034.83 | 2.89% |
| DIMENSIONAL US SMALL COMPANIES -B- EUR -CAP- | 101,850 | EUR | 3,119,649.95 | 2,865,044.66 | 3.77% |
| DIMENSION GLOBAL SMALL CO EUR -CAP- | 362,541 | EUR | 7,703,644.38 | 7,627,855.32 | 10.03% |
| PICTET SOVGN SH-TERM MONEY MARKET EUR | 104,347 | EUR | 10,460,999.96 | 10,439,412.84 | 13.72% |
| VANGUARD EMERGING MARKETS STOCK INDEX -CAP- | 26,501 | EUR | 4,157,643.84 | 4,510,742.06 | 5.93% |
| VANGUARD INVESTMENT US 500 STOCK INDEX -CAP- | 254,940 | EUR | 6,409,155.34 | 8,448,658.96 | 11.11% |
| VANGUARD JAPAN STOCK INDEX EUR -CAP- | 16,569 | EUR | 2,687,233.06 | 3,366,999.75 | 4.43% |
| Total EURO |  |  | 53,513,928.11 | 55,574,933.99 | 73.06% |
| DIMENSIONAL EMERGING MARKETS -CAP- | 181,222 | GBP | 8,205,395.25 | 9,222,446.12 | 12.12% |
| Total BRITISH POUND |  |  | 8,205,395.25 | 9,222,446.12 | 12.12% |
| ISHARES EDGE MSCI USA VALUE FACTOR UCITS STF UCITS STF | 257,388 | USD | 1,413,606.20 | 1,372,651.87 | 1.80% |
| SSGA SPDR MSCI USA VALUE -CAP- | 42,584 | USD | 1,396,340.06 | 1,406,272.46 | 1.85% |
| VANGUARD INVESTMENT US FUNDAMENTAL VALUE -CAP- | 8,096 | USD | 1,427,262.70 | 1,131,194.12 | 1.49% |
| VANGUARD PACIFIC EX JAPAN STOCK INDEX -CAP- | 6,034 | USD | 1,153,868.05 | 1,232,504.38 | 1.62% |
| Total U.S. DOLLAR |  |  | 5,391,077.01 | 5,142,622.83 | 6.76% |
| Total Investment funds |  |  | 67,110,400.37 | 69,940,002.94 | 91.95% |
| Total Portfolio |  |  | 67,110,400.37 | 69,940,002.94 | 91.95% |

|  |
| --- |
| PBT - Global Asset Allocation |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| NESTLE -REG- | 3,270 | CHF | 215,966.26 | 330,760.71 | 2.69% |
| UBS GROUP A.G. | 28,375 | CHF | 388,999.90 | 268,696.67 | 2.19% |
| ZURICH INSURANCE GROUP A.G. | 870 | CHF | 227,442.63 | 264,905.40 | 2.16% |
| Total SWISS FRANC |  |  | 832,408.79 | 864,362.78 | 7.04% |
| BNP PARIBAS S.A. | 4,333 | EUR | 281,834.41 | 136,294.52 | 1.11% |
| DAIMLER A.G. -REG- | 7,870 | EUR | 462,627.45 | 348,562.30 | 2.84% |
| L'OREAL | 1,260 | EUR | 242,401.92 | 349,650.00 | 2.85% |
| LVMH MOET HENNESSY.LOUIS VUITTON SE | 505 | EUR | 191,900.00 | 202,050.50 | 1.64% |
| TOTAL SE | 4,721 | EUR | 227,343.95 | 140,213.70 | 1.14% |
| VINCI S.A. | 3,385 | EUR | 287,849.80 | 243,720.00 | 1.98% |
| WORLDLINE S.A. | 1,680 | EUR | 117,549.89 | 125,025.60 | 1.02% |
| Total EURO |  |  | 1,811,507.42 | 1,545,516.62 | 12.58% |
| AMAZON.COM INC | 85 | USD | 121,744.78 | 218,433.29 | 1.78% |
| MICROSOFT CORP. | 1,500 | USD | 127,033.00 | 257,750.46 | 2.10% |
| Total U.S. DOLLAR |  |  | 248,777.78 | 476,183.75 | 3.88% |
| Total Shares & Related Securities |  |  | 2,892,693.99 | 2,886,063.15 | 23.49% |
| Bonds |  |  |  |  |  |
| VOLKSWAGEN FINANCE SERVICES 1,375 18-161023 | 450,000 | EUR | 437,634.00 | 462,102.75 | 3.76% |
| Total EURO |  |  | 437,634.00 | 462,102.75 | 3.76% |
| AMERICAN EXPRESS FRN 17-010822 | 150,000 | USD | 124,030.05 | 129,339.74 | 1.05% |
| Total U.S. DOLLAR |  |  | 124,030.05 | 129,339.74 | 1.05% |
| Total Bonds |  |  | 561,664.05 | 591,442.49 | 4.81% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 3,454,358.04 | 3,477,505.64 | 28.31% |
| Investment funds |  |  |  |  |  |
| TIKEHAU SHORT DURATION IR CHF -CAP- | 7,295 | CHF | 632,562.22 | 681,056.11 | 5.54% |
| Total SWISS FRANC |  |  | 632,562.22 | 681,056.11 | 5.54% |
| ALLIANZ GLOBAL INVESTMENT EUR EQUIT. GROWTH PT -CAP- | 210 | EUR | 327,824.37 | 402,208.80 | 3.27% |
| AWF GLOBAL INFLATION SHORT DURATION BONDS | 6,100 | EUR | 615,612.00 | 619,028.00 | 5.04% |
| AXA GLOBAL INFLATION BOND -I- -CAP- | 2,312 | EUR | 360,033.78 | 395,282.64 | 3.22% |
| AXA WORLD FUNDS US SHORT DURATION HIGH YIELD -I- | 3,420 | EUR | 342,000.00 | 341,965.80 | 2.78% |
| ISHARES STOXX EUR 600 REAL ESTATE UCITS ETFUCITS ETF | 15,002 | EUR | 263,191.59 | 236,521.53 | 1.93% |
| ISHARES US TREASURY 7-10Y BOND -DIS- UCITS ETF UCITS ETF | 900 | EUR | 177,104.15 | 172,377.00 | 1.40% |

PBT - Global Asset Allocation
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
| --- | --- | --- | --- | --- | --- |

| ROBECO CAP GROWTH BP US PREMIUM EQUIT. | 825 | EUR | 208,334.74 | 186,012.75 | 1.51% |
| --- | --- | --- | --- | --- | --- |
| ROBECO EURO GOVT BONDS IH EUR -CAP- | 1,874 | EUR | 314,916.11 | 347,514.56 | 2.83% |
| ROBECO QI GLOBAL DYN DURATION IH EUR -CAP- | 4,132 | EUR | 630,412.84 | 677,317.44 | 5.51% |
| TIKEHAU CREDIT PLUS -A- -CAP- | 1,765 | EUR | 237,976.70 | 237,604.30 | 1.93% |
| VONTOBEL EMERGING MARKETS HNHE -CAP- | 5,970 | EUR | 600,343.20 | 581,776.50 | 4.74% |
| Total EURO |  |  | 4,077,749.48 | 4,197,609.32 | 34.17% |
| COMGEST GROWTH EMERGING MARKETS -I- USD | 10,135 | USD | 375,883.17 | 364,906.88 | 2.97% |
| CREDIT SUISSE LONDON IF2 GLOBAL ROBOTICS EQUITY | 140 | USD | 204,555.42 | 258,971.52 | 2.11% |
| ISHARES S&P500 INFORMATION TECHNO -CAP- UCITS ETF | 26,430 | USD | 179,030.18 | 320,710.11 | 2.61% |
| ROBECO CAP GROWTH GLOBAL CONS TRENDS EQUIT. | 762 | USD | 193,472.05 | 242,637.62 | 1.98% |
| Total U.S. DOLLAR |  |  | 952,940.82 | 1,187,226.13 | 9.66% |
| Total Investment funds |  |  | 5,663,252.52 | 6,065,891.56 | 49.38% |
| Other Transferable Securities |  |  |  |  |  |
| BASKET EQ-UBS A.G. LONDON 20-150321 | 590,000 | EUR | 590,000.00 | 521,737.00 | 4.25% |
| Total EURO |  |  | 590,000.00 | 521,737.00 | 4.25% |
| Total Other Transferable Securities |  |  | 590,000.00 | 521,737.00 | 4.25% |
| Options |  |  |  |  |  |
| PUT DJ EURO STOXX 50 DÉCEMBRE 2020 ST 2550 | 148 | EUR | 154,216.00 | 37,148.00 | 0.30% |
| Total EURO |  |  | 154,216.00 | 37,148.00 | 0.30% |
| Total Options |  |  | 154,216.00 | 37,148.00 | 0.30% |
| Total Portfolio |  |  | 9,861,826.56 | 10,102,282.20 | 82.24% |

|  |
| --- |
| Conviction Shares |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| NESTLE -REG- | 1,800 | CHF | 172,496.56 | 182,681.58 | 1.06% |
| Total SWISS FRANC |  |  | 172,496.56 | 182,681.58 | 1.06% |
| AIRBUS GROUP | 5,500 | EUR | 438,268.95 | 341,385.00 | 1.98% |
| AIR LIQUIDE | 1,200 | EUR | 137,581.38 | 162,600.00 | 0.94% |
| ASML HOLDING NV | 1,950 | EUR | 488,858.62 | 613,665.00 | 3.56% |
| GAZTRANSPORT ET TECHNIGAZ S.A. | 7,000 | EUR | 565,907.20 | 570,850.00 | 3.31% |
| KERING | 725 | EUR | 352,555.72 | 411,510.00 | 2.39% |
| KION GROUP AG | 8,500 | EUR | 520,021.76 | 622,030.00 | 3.61% |
| LVMH MOET HENNESSY.LOUIS VUITTON SE | 1,050 | EUR | 372,479.82 | 419,370.00 | 2.43% |
| MERSEN | 17,500 | EUR | 394,700.97 | 459,375.00 | 2.66% |
| ROYAL DUTCH SHELL PLC -A- | 30,000 | EUR | 606,721.57 | 323,340.00 | 1.87% |
| SAFRAN S.A. S.A. | 5,000 | EUR | 457,548.99 | 422,200.00 | 2.45% |
| SANOFI S.A. S.A. | 3,000 | EUR | 235,136.75 | 255,990.00 | 1.48% |
| SAP A.G. | 3,000 | EUR | 335,203.87 | 398,280.00 | 2.31% |
| SHOP APOTHEKE EUROPE N.V. | 4,450 | EUR | 247,966.42 | 664,830.00 | 3.85% |
| TELEPERFORMANCE | 2,400 | EUR | 431,682.69 | 632,640.00 | 3.67% |
| THALES S.A. 1,00 20-150528 S.A. 1,00 20-150528 | 4,000 | EUR | 321,244.76 | 256,640.00 | 1.49% |
| VINCI S.A. | 4,600 | EUR | 340,603.96 | 328,992.00 | 1.91% |
| WORLDLINE S.A. | 10,300 | EUR | 560,700.49 | 722,236.00 | 4.19% |
| Total EURO |  |  | 6,807,183.92 | 7,605,933.00 | 44.10% |
| TENCENT HOLDINGS LTD | 11,000 | HKD | 451,003.65 | 619,113.12 | 3.59% |
| Total HONG KONG DOLLAR |  |  | 451,003.65 | 619,113.12 | 3.59% |
| ACTIVISION BLIZZARD INC. | 7,500 | USD | 490,070.08 | 517,737.60 | 3.00% |
| AKAMAI TECHNOLOGIES INC. | 5,200 | USD | 472,794.61 | 490,178.66 | 2.84% |
| ALIBABA GROUP HOLDING ADR | 3,200 | USD | 566,191.29 | 802,230.84 | 4.65% |
| ALPHABET INC. -C- | 480 | USD | 510,750.43 | 601,550.33 | 3.49% |
| AMAZON.COM INC | 450 | USD | 809,810.02 | 1,208,313.22 | 7.01% |
| APPLE INC. | 7,000 | USD | 403,571.59 | 691,314.54 | 4.01% |
| BOEING | 2,900 | USD | 425,155.97 | 408,693.13 | 2.37% |
| CISCO SYSTEMS INC. | 6,000 | USD | 255,373.35 | 201,543.51 | 1.17% |
| CITRIX SYSTEMS INC. | 1,575 | USD | 204,165.42 | 184,959.92 | 1.07% |
| CLEVELAND CLIFFS NAT RESOURCES INC. | 80,000 | USD | 465,510.62 | 437,982.35 | 2.54% |
| EXTREME NETWORKS INC. | 21,800 | USD | 153,594.49 | 74,733.30 | 0.43% |
| GENERAL ELECTRIC | 50,000 | USD | 295,866.17 | 265,637.66 | 1.54% |
| JOHNSON & JOHNSON CORP. | 1,600 | USD | 187,671.96 | 203,136.49 | 1.18% |
| MICRON TECHNOLOGY | 10,800 | USD | 440,060.09 | 432,497.34 | 2.51% |
| MICROSOFT CORP. | 5,200 | USD | 697,848.35 | 932,687.50 | 5.41% |
| NVIDIA CORP | 2,000 | USD | 407,378.48 | 923,071.68 | 5.35% |

Conviction Shares
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
| --- | --- | --- | --- | --- | --- |

| PETROBRAS -SPONSOREDADR - REPR. 4 SHARES | 12,000 | USD | 139,719.68 | 72,860.61 | 0.42% |
| --- | --- | --- | --- | --- | --- |
| Total U.S. DOLLAR | 6,925,532.60 | 8,449,128.68 | 48.99% |
| Total Shares & Related Securities | 14,356,216.73 | 16,856,856.38 | 97.74% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market | 14,356,216.73 | 16,856,856.38 | 97.74% |
| Total Portfolio | 14,356,216.73 | 16,856,856.38 | 97.74% |

|  |
| --- |
| Short Term Crossover Bond |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Bonds |  |  |  |  |  |
| ACCOR 1,25 17-250124 | 200,000 | EUR | 189,500.00 | 197,293.00 | 3.66% |
| AMS A.G. 6,00 20-310725 | 200,000 | EUR | 204,500.00 | 211,686.00 | 3.93% |
| ARCELORMITTAL 2,25 19-170124 | 200,000 | EUR | 192,966.00 | 203,755.00 | 3.78% |
| AREVA S.A. 4,875 09-230924 | 200,000 | EUR | 214,800.00 | 222,568.00 | 4.13% |
| AZIMUT HLDG 2,00 17-280322 | 150,000 | EUR | 148,483.50 | 152,061.00 | 2.82% |
| EDF S.A. FRN 18-PERPETUAL | 200,000 | EUR | 203,900.00 | 209,492.00 | 3.89% |
| ENEL SpA FRN 18-241178 | 200,000 | EUR | 198,980.00 | 204,718.00 | 3.80% |
| ENERGIAS DE PORTUGAL FRN 20-200780 | 200,000 | EUR | 182,680.00 | 193,051.00 | 3.58% |
| FAURECIA 2,625 18-150625 | 200,000 | EUR | 186,000.00 | 197,633.00 | 3.67% |
| FERROVIAL NL B.V. FRN 17-PERPETUAL | 200,000 | EUR | 181,700.00 | 188,529.00 | 3.50% |
| FIAT CHRYSLER AUTO 3,75 16-290324 | 200,000 | EUR | 205,400.00 | 211,859.00 | 3.93% |
| FORD MOTOR CREDIT 3,021 19-060324 | 200,000 | EUR | 182,960.00 | 196,555.00 | 3.65% |
| GAZPROM P.J.S.C. 2,95 20-150425 | 200,000 | EUR | 203,420.00 | 208,837.00 | 3.87% |
| GENERAL MOTORS FINANCE 1,694 18-260325 | 200,000 | EUR | 175,000.00 | 201,555.00 | 3.74% |
| HARLEY-DAVIDSON 0,90 19-191124 | 200,000 | EUR | 177,018.00 | 198,823.00 | 3.69% |
| INEOS FINANCE PLC 2,125 17-151125 | 200,000 | EUR | 195,000.00 | 189,846.00 | 3.52% |
| LEONARDO SpA 4,875 05-240325 | 200,000 | EUR | 221,000.00 | 223,785.00 | 4.15% |
| NOKIA CORP. 2,375 20-150525 | 100,000 | EUR | 99,651.00 | 104,383.50 | 1.94% |
| PPF TELECOM 3,50 20-200524 | 200,000 | EUR | 209,000.00 | 206,088.00 | 3.82% |
| SOFTBK GROUP CORP3,125 17-190925 | 200,000 | EUR | 187,498.00 | 199,237.00 | 3.70% |
| TELECOM ITALIA SpA 3,625 16-190124 | 200,000 | EUR | 208,891.60 | 210,745.00 | 3.91% |
| TELEFONICA EUROPE FRN 19-PERPETUAL | 200,000 | EUR | 206,490.00 | 211,443.00 | 3.92% |
| TEVA PHARMACEUTICAL FINANCE NETHERLANDS B.V. 1,125 16- 151024 | 200,000 | EUR | 174,150.00 | 173,732.00 | 3.22% |
| TIKEHAU CAPITAL SCA 3,00 17-271123 | 200,000 | EUR | 200,988.00 | 205,133.00 | 3.80% |
| VALE OVERSEAS LTD 3,75 12-100123 | 200,000 | EUR | 202,880.00 | 210,528.00 | 3.90% |
| VOLKSWAGEN INTERNATIONAL FINANCE FRN 15-PERPETUAL | 150,000 | EUR | 145,410.00 | 150,216.75 | 2.79% |
| VOTORANTIM CIMENTOS 3,50 15-130722 | 200,000 | EUR | 207,500.00 | 205,823.00 | 3.82% |
| Total EURO |  |  | 5,105,766.10 | 5,289,375.25 | 98.10% |
| Total Bonds |  |  | 5,105,766.10 | 5,289,375.25 | 98.10% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 5,105,766.10 | 5,289,375.25 | 98.10% |
| Total Portfolio |  |  | 5,105,766.10 | 5,289,375.25 | 98.10% |

(Content)
| Global Fund | % Total Net Assets |
| --- | --- |
|  |
| LUXEMBURG | 36.82 % |
| UNITED KINGDOM | 12.61 % |
| UNITED STATES OF AMERICA | 8.41 % |
| SWITZERLAND | 7.67 % |
| FRANCE | 7.14 % |
| NETHERLANDS | 6.40 % |
| BELGIUM | 3.67 % |
| GERMANY | 2.45 % |
| Total Portfolio | 85.17 % |

(Content)
| Tactical Fund | % Total Net Assets |
| --- | --- |
|  |
| FRANCE | 34.88 % |
| GERMANY | 10.12 % |
| ITALY | 9.15 % |
| NETHERLANDS | 6.26 % |
| UNITED KINGDOM | 5.46 % |
| GREECE | 4.80 % |
| SWITZERLAND | 4.79 % |
| SWEDEN | 4.25 % |
| LUXEMBURG | 3.05 % |
| PORTUGAL | 2.44 % |
| MAURITIUS | 1.29 % |
| POLAND | 1.26 % |
| BRAZIL | 1.04 % |
| CHILE | 1.03 % |
| CZECH REPUBLIC | 0.95 % |
| SPAIN | 0.95 % |
| ARGENTINA | 0.85 % |
| SOUTH AFRICA | 0.49 % |
| CANADA | 0.31 % |
| IRELAND | 0.21 % |
| CYPRUS | 0.01 % |
| Total Portfolio | 93.59 % |

(Content)
|  |  |
| --- | --- |
| Quintillia Fund | % Total Net Assets |
|  |
| LUXEMBURG | 25.88 % |
| UNITED STATES OF AMERICA | 23.04 % |
| NETHERLANDS | 9.84 % |
| FRANCE | 5.60 % |
| JAPAN | 4.14 % |
| SWITZERLAND | 3.24 % |
| BERMUDA | 1.14 % |
| NORWAY | 1.05 % |
| CAYMAN ISLANDS | 0.90 % |
| BELGIUM | 0.68 % |
| GERMANY | 0.26 % |
| Total Portfolio | 75.77 % |

(Content)
| Logiver Indiciel Dynamique | % Total Net Assets |
| --- | --- |
|  |
| IRELAND | 66.11 % |
| LUXEMBURG | 13.72 % |
| UNITED KINGDOM | 12.12 % |
| Total Portfolio | 91.95 % |

(Content)
| PBT - Global Asset Allocation | % Total Net Assets |
| --- | --- |
|  |
| LUXEMBURG | 38.84 % |
| FRANCE | 11.68 % |
| GERMANY | 8.52 % |
| SWITZERLAND | 7.04 % |
| IRELAND | 6.98 % |
| UNITED STATES OF AMERICA | 4.93 % |
| UNITED KINGDOM | 4.25 % |
| Total Portfolio | 82.24 % |

(Content)
| Conviction Shares | % Total Net Assets |
| --- | --- |
|  |
| UNITED STATES OF AMERICA | 43.92 % |
| FRANCE | 26.92 % |
| NETHERLANDS | 9.39 % |
| CAYMAN ISLANDS | 8.24 % |
| GERMANY | 5.92 % |
| UNITED KINGDOM | 1.87 % |
| SWITZERLAND | 1.06 % |
| BRAZIL | 0.42 % |
| Total Portfolio | 97.74 % |

(Content)
|  |  |
| --- | --- |
| Short Term Crossover Bond | % Total Net Assets |
|  |
| NETHERLANDS | 21.17 % |
| FRANCE | 19.14 % |
| ITALY | 14.68 % |
| UNITED STATES OF AMERICA | 11.07 % |
| BRAZIL | 7.72 % |
| AUSTRIA | 3.93 % |
| RUSSIA | 3.87 % |
| LUXEMBURG | 3.78 % |
| JAPAN | 3.70 % |
| PORTUGAL | 3.58 % |
| UNITED KINGDOM | 3.52 % |
| FINLAND | 1.94 % |
| Total Portfolio | 98.10 % |

| Global Fund | % Total Net Assets |
| --- | --- |
|  |
| UNIT TRUSTS, UCITS | 36.83 % |
| PHARMACOLOGY & PERSONAL CARE | 20.76 % |
| FOOD & CLEANING MATERIALS | 13.96 % |
| TOBACCO & SPIRITS | 8.55 % |
| IT & INTERNET | 3.98 % |
| STATE | 0.80 % |
| FINANCIAL SERVICES - HOLDINGS | 0.29 % |
| Total Portfolio | 85.17 % |

| Tactical Fund | % Total Net Assets |
| --- | --- |
|  |
| BANKS | 13.59 % |
| FINANCIAL SERVICES - HOLDINGS | 9.11 % |
| TELECOMMUNICATIONS | 7.89 % |
| BUILDING MATERIALS | 6.89 % |
| AEROSPACE INDUSTRY & DEFENCE | 6.84 % |
| ROAD VEHICLES | 5.06 % |
| OIL & DERIVED | 5.00 % |
| HEALTH CARE & SERVICES | 4.58 % |
| ENERGY SOURCES | 3.82 % |
| FOOD & CLEANING MATERIALS | 3.25 % |
| INSURANCE COMPANIES | 3.09 % |
| COMMERCIAL SERVICES - PUBLIC | 3.01 % |
| AIR TRANSPORT | 2.69 % |
| LEISURES & TOURISM | 2.47 % |
| INFORMATION, TECHNOLOGY & COPIERS | 2.20 % |
| OTHER SERVICES | 2.16 % |
| PUBLISHING & BROADCASTING | 1.75 % |
| ROAD & RAILWAY TRANSPORTS | 1.42 % |
| DISTRIBUTION | 1.36 % |
| PHARMACOLOGY & PERSONAL CARE | 1.22 % |
| UTILITIES | 1.19 % |
| MECHANICAL CONSTRUCTION | 1.13 % |
| NONFERROUS METALS | 0.96 % |
| CHEMICAL PRODUCTS | 0.80 % |
| UNIT TRUSTS, UCITS | 0.67 % |
| FOREST PRODUCTS & PAPER INDUSTRY | 0.67 % |
| IT & INTERNET | 0.39 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 0.24 % |
| MISCELLANEOUS CONSUMER GOODS | 0.11 % |
| STATE | 0.02 % |
| MISCELLANEOUS | 0.01 % |
| Total Portfolio | 93.59 % |

|  |  |
| --- | --- |
| Quintillia Fund | % Total Net Assets |
|  |
| UNIT TRUSTS, UCITS | 23.75 % |
| STATE | 14.42 % |
| PHARMACOLOGY & PERSONAL CARE | 10.63 % |
| BANKS | 7.02 % |
| FINANCIAL SERVICES - HOLDINGS | 4.89 % |
| AGRICULTURE & FISHING | 4.22 % |
| BUILDING MATERIALS | 4.08 % |
| EUROPEAN ORGANIZATIONS | 1.88 % |
| IT & INTERNET | 1.38 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 1.06 % |
| ENERGY SOURCES | 0.98 % |
| MECHANICAL CONSTRUCTION | 0.72 % |
| REAL ESTATE | 0.31 % |
| CHEMICAL PRODUCTS | 0.26 % |
| HEALTH CARE & SERVICES | 0.17 % |
| Total Portfolio | 75.77 % |

| Logiver Indiciel Dynamique | % Total Net Assets |
| --- | --- |
|  |
| UNIT TRUSTS, UCITS | 91.95 % |
| Total Portfolio | 91.95 % |

| PBT - Global Asset Allocation | % Total Net Assets |
| --- | --- |
|  |
| UNIT TRUSTS, UCITS | 49.68 % |
| BANKS | 6.41 % |
| FINANCIAL SERVICES - HOLDINGS | 5.95 % |
| IT & INTERNET | 3.88 % |
| PHARMACOLOGY & PERSONAL CARE | 2.85 % |
| ROAD VEHICLES | 2.84 % |
| FOOD & CLEANING MATERIALS | 2.69 % |
| INSURANCE COMPANIES | 2.16 % |
| BUILDING MATERIALS | 1.98 % |
| TEXTILE & GARMENTS | 1.64 % |
| OIL & DERIVED | 1.14 % |
| OTHER SERVICES | 1.02 % |
| Total Portfolio | 82.24 % |

|  |  |
| --- | --- |
| Conviction Shares | % Total Net Assets |
|  |
| IT & INTERNET | 35.23 % |
| TELECOMMUNICATIONS | 10.12 % |
| FINANCIAL SERVICES - HOLDINGS | 8.88 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 6.07 % |
| AEROSPACE INDUSTRY & DEFENCE | 5.84 % |
| OIL & DERIVED | 5.61 % |
| OTHER SERVICES | 4.19 % |
| MECHANICAL CONSTRUCTION | 3.61 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 2.66 % |
| PHARMACOLOGY & PERSONAL CARE | 2.66 % |
| NONFERROUS METALS | 2.54 % |
| TEXTILE & GARMENTS | 2.43 % |
| DISTRIBUTION | 2.39 % |
| BUILDING MATERIALS | 1.91 % |
| INFORMATION, TECHNOLOGY & COPIERS | 1.60 % |
| FOOD & CLEANING MATERIALS | 1.06 % |
| CHEMICAL PRODUCTS | 0.94 % |
| Total Portfolio | 97.74 % |

| Short Term Crossover Bond | % Total Net Assets |
| --- | --- |
|  |
| FINANCIAL SERVICES - HOLDINGS | 31.04 % |
| ENERGY SOURCES | 15.39 % |
| ROAD VEHICLES | 11.09 % |
| TELECOMMUNICATIONS | 9.77 % |
| INTERMEDIARY INDUSTRIAL PRODUCTIONS | 7.68 % |
| AEROSPACE INDUSTRY & DEFENCE | 4.15 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 3.93 % |
| OIL & DERIVED | 3.87 % |
| BUILDING MATERIALS | 3.82 % |
| IT & INTERNET | 3.70 % |
| LEISURES & TOURISM | 3.66 % |
| Total Portfolio | 98.10 % |

| Global Fund | % Total Net Assets |
| --- | --- |
|  |
| EURO | 56.48 % |
| U.S. DOLLAR | 12.02 % |
| BRITISH POUND | 9.00 % |
| SWISS FRANC | 7.67 % |
| Total Portfolio | 85.17 % |

| Tactical Fund | % Total Net Assets |
| --- | --- |
|  |
| EURO | 73.04 % |
| SWISS FRANC | 4.79 % |
| U.S. DOLLAR | 4.70 % |
| BRITISH POUND | 4.29 % |
| SWEDISH KRONA | 4.25 % |
| POLISH ZLOTY | 1.26 % |
| CZECH KORUNA | 0.95 % |
| CANADIAN DOLLAR | 0.31 % |
| Total Portfolio | 93.59 % |

| Quintillia Fund | % Total Net Assets |
| --- | --- |
|  |
| EURO | 38.74 % |
| U.S. DOLLAR | 24.68 % |
| JAPANESE YEN | 4.14 % |
| SWISS FRANC | 3.24 % |
| HONG KONG DOLLAR | 2.04 % |
| INDIAN RUPEE | 1.88 % |
| NORWEGIAN KRONE | 1.05 % |
| Total Portfolio | 75.77 % |

| Logiver Indiciel Dynamique | % Total Net Assets |
| --- | --- |
|  |
| EURO | 73.07 % |
| BRITISH POUND | 12.12 % |
| U.S. DOLLAR | 6.76 % |
| Total Portfolio | 91.95 % |

|  |  |
| --- | --- |
| PBT - Global Asset Allocation | % Total Net Assets |
|  |
| EURO | 55.07 % |
| U.S. DOLLAR | 14.59 % |
| SWISS FRANC | 12.58 % |
| Total Portfolio | 82.24 % |

| Conviction Shares | % Total Net Assets |
| --- | --- |
|  |
| U.S. DOLLAR | 48.99 % |
| EURO | 44.10 % |
| HONG KONG DOLLAR | 3.59 % |
| SWISS FRANC | 1.06 % |
| Total Portfolio | 97.74 % |

| Short Term Crossover Bond | % Total Net Assets |
| --- | --- |
|  |
| EURO | 98.10 % |
| Total Portfolio | 98.10 % |

|  |
| --- |
| Global Fund |
|  |
| Shares outstanding at the beginning of the financial period | - CAP | 31,058.772 39.086 9,643.733 |
| Shares issued during the financial period | - CAP |
| Shares redeemed during the financial period | - CAP |
| Shares outstanding at the end of the financial period | - CAP | 21,454.125 |

Tactical Fund
| Shares outstanding at the beginning of the financial period	- A | 70.709 |
| --- | --- |
| - B | 145,865.540 |
| Shares issued during the financial period	- A | 0.000 |
| - B | 0.000 |
| Shares redeemed during the financial period	- A | 0.000 |
| - B | 7,207.000 |
| Shares outstanding at the end of the financial period	- A | 70.709 |
| - B | 138,658.540 |

Quintillia Fund
| Shares outstanding at the beginning of the financial period	- A | 3,940.000 |
| --- | --- |
| - B | 12,355.158 |
| Shares issued during the financial period	- A | 0.000 |
| - B | 0.000 |
| Shares redeemed during the financial period	- A | 100.000 |
| - B | 627.158 |
| Shares outstanding at the end of the financial period	- A | 3,840.000 |
| - B | 11,728.000 |

Logiver Indiciel Dynamique
| Shares outstanding at the beginning of the financial period	- Instit 1-0,90 | 1,183.460 |
| --- | --- |
| - Retail 1-0,75 | 22,279.145 |
| - Retail 2-0,00 | 11,863.050 |
| - Retail 3-1,00 | 4,484.169 |
| - Retail 4-0,50 | 2,244.547 |
| Shares issued during the financial period	- Instit 1-0,90 | 836.290 |
| - Retail 1-0,75 | 45.890 |
| - Retail 2-0,00 | 571.451 |
| - Retail 3-1,00 | 127.030 |
| - Retail 4-0,50 | 0.000 |
| Shares redeemed during the financial period	- Instit 1-0,90 | 103.640 |
| - Retail 1-0,75 | 510.451 |
| - Retail 2-0,00 | 1,343.169 |
| - Retail 3-1,00 | 266.809 |
| - Retail 4-0,50 | 0.000 |
| Shares outstanding at the end of the financial period	- Instit 1-0,90 | 1,916.110 |
| - Retail 1-0,75 | 21,814.584 |
| - Retail 2-0,00 | 11,091.332 |
| - Retail 3-1,00 | 4,344.390 |
| - Retail 4-0,50 | 2,244.547 |

PBT - Global Asset Allocation
| Shares outstanding at the beginning of the financial period	- A CHF | 52,275.000 |
| --- | --- |
| - A EUR | 80,010.314 |
| Shares issued during the financial period	- A CHF | 0.000 |
| - A EUR | 2,805.000 |
| Shares redeemed during the financial period	- A CHF | 0.000 |
| - A EUR | 670.000 |
| Shares outstanding at the end of the financial period	- A CHF | 52,275.000 |
| - A EUR | 82,145.314 |

| Conviction Shares |
| --- |
|  |
| Shares outstanding at the beginning of the financial period | - A EUR | 104,198.000 73,619.000 11,969.000 |
| Shares issued during the financial period | - A EUR |
| Shares redeemed during the financial period | - A EUR |
| Shares outstanding at the end of the financial period | - A EUR | 165,848.000 |

Short Term Crossover Bond
| Shares outstanding at the beginning of the financial period	- A EUR | 0.000 |
| --- | --- |
| - BH CHF | 0.000 |
| Shares issued during the financial period	- A EUR | 4,225.000 |
| - BH CHF | 1,025.000 |
| Shares redeemed during the financial period	- A EUR | 0.000 |
| - BH CHF | 0.000 |
| Shares outstanding at the end of the financial period	- A EUR | 4,225.000 |
| - BH CHF | 1,025.000 |

| Sub-Fund | Valuation date | Total Net Assets | Share Class | Shares Outstanding | SHARE VALUE | CCY |
| --- | --- | --- | --- | --- | --- | --- |

| Global Fund (EUR) | 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 36,688,169.66 26,383,466.21 27,252,922.45 21,347,018.55 | - CAP | 48,169.910 | 761.64 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - CAP | 32,857.958 | 802.96 | EUR |
| - CAP | 31,058.772 | 877.46 | EUR |
| - CAP | 21,454.125 | 995.01 | EUR |

| Tactical Fund (EUR) | 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 39,366,102.01 29,052,366.44 22,327,761.11 23,751,199.96 | - A | 13,002.917 | 207.08 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 165,072.000 | 222.17 | EUR |
| - A | 289.872 | 176.79 | EUR |
| - B | 151,912.540 | 190.91 | EUR |
| - A | 70.709 | 140.76 | EUR |
| - B | 145,865.540 | 153.00 | EUR |
| - A | 70.709 | 157.01 | EUR |
| - B | 138,658.540 | 171.21 | EUR |

| Quintillia Fund (EUR) | 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 5,995,952.41 5,123,687.80 5,127,772.29 5,009,118.62 | - A | 5,990.000 | 1,000.99 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - A | 3,970.000 | 1,053.18 | EUR |
| - B | 8,995.158 | 104.79 | EUR |
| - A | 3,940.000 | 991.58 | EUR |
| - B | 12,355.158 | 98.82 | EUR |
| - A | 3,840.000 | 999.89 | EUR |
| - B | 11,728.000 | 99.72 | EUR |

| Sub-Fund | Valuation date | Total Net Assets | Share Class | Shares Outstanding | SHARE VALUE | CCY |
| --- | --- | --- | --- | --- | --- | --- |

| Logiver Indiciel Dynamique (EUR) | 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 55,669,249.94 73,451,818.59 62,698,240.39 76,064,406.08 | - Retail 1-0,75 | 19,698.791 | 1,430.04 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - Retail 2-0,00 | 12,629.064 | 1,455.54 | EUR |
| - Retail 3-1,00 | 3,907.064 | 1,509.36 | EUR |
| - Retail 4-0,50 | 2,164.699 | 1,487.45 | EUR |
| - Instit 1-0,90 | 898.120 | 10,204.60 | EUR |
| - Retail 1-0,75 | 22,890.675 | 1,456.78 | EUR |
| - Retail 2-0,00 | 12,708.777 | 1,493.94 | EUR |
| - Retail 3-1,00 | 4,809.336 | 1,533.73 | EUR |
| - Retail 4-0,50 | 3,013.687 | 1,519.03 | EUR |
| - Instit 1-0,90 | 1,183.460 | 8,798.98 | EUR |
| - Retail 1-0,75 | 22,279.145 | 1,257.09 | EUR |
| - Retail 2-0,00 | 11,863.050 | 1,298.88 | EUR |
| - Retail 3-1,00 | 4,484.169 | 1,320.18 | EUR |
| - Retail 4-0,50 | 2,244.547 | 1,314.13 | EUR |
| - Instit 1-0,90 | 1,916.110 | 9,922.15 | EUR |
| - Retail 1-0,75 | 21,814.584 | 1,418.38 | EUR |
| - Retail 2-0,00 | 11,091.332 | 1,471.04 | EUR |
| - Retail 3-1,00 | 4,344.390 | 1,487.70 | EUR |
| - Retail 4-0,50 | 2,244.547 | 1,484.59 | EUR |

| PBT - Global Asset Allocation (EUR) | 31.10.2017 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 10,188,032.20 12,483,080.80 11,918,712.16 11,172,885.60 12,284,211.13 | - A CHF | 46,280.000 | 86.12 | CHF |
| --- | --- | --- | --- | --- | --- | --- |
| - A EUR | 62,025.000 | 100.00 | EUR |
| - A CHF | 47,375.000 | 95.77 | CHF |
| - A EUR | 89,902.859 | 96.00 | EUR |
| - A CHF | 49,625.000 | 95.21 | CHF |
| - A EUR | 80,411.852 | 95.68 | EUR |
| - A CHF | 52,275.000 | 85.96 | CHF |
| - A EUR | 80,010.314 | 86.74 | EUR |
| - A CHF | 52,275.000 | 93.45 | CHF |
| - A EUR | 82,145.314 | 94.39 | EUR |

| Conviction Shares (EUR) | 05.03.2018 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 1,414,000.00 5,155,869.60 11,100,377.23 8,852,292.12 17,247,156.45 | - A EUR | 14,140.000 | 100.00 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - A EUR | 53,445.000 | 96.47 | EUR |
| - A EUR | 121,471.000 | 91.38 | EUR |
| - A EUR | 104,198.000 | 84.96 | EUR |
| - A EUR | 165,848.000 | 103.99 | EUR |

| Short Term Crossover Bond (EUR) | 27.04.2020 30.09.2020 | 4,174,574.41 5,391,611.44 | - A EUR | 4,175.000 | 999.90 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - A EUR | 4,225.000 | 1,040.68 | EUR |
| - BH CHF | 1,025.000 | 1,045.54 | CHF |

| NOTE 1 - ACCOUNTING PRINCIPLES AND METHODS |
| --- |
| The financial statements of the SICAV are prepared on to the principles of a going concern basis and in accordance with the relevant regulations governing UCITS as accepted in Luxembourg, and based on the official net asset value calculated on the closing date of the financial year. |
| a) Securities portfolio valuation |
| Securities listed on an official stock exchange are valued on the basis of the last known closing price as at 30 September 2020 and, if there is more than one market, at the price of the relevant security's main market. Securities and derivatives listed on other regulated markets are valued on the basis of the closing price known as at 30 September 2020 and, if there is more than one market, at the price of the relevant security's main market. Securities not listed on a stock exchange or whose price is not representative are valued at their last known trading value as at 30 September 2020 or, in the absence of a trading value, at the probable realisation value in accordance with the valuation criteria deemed relevant by the Board of Directors. Units in collective investment undertakings are valued at the last available net value. Derivatives (futures) listed on an official stock exchange are valued on the basis of the last available closing price as at 30 September 2020 and, if there are several markets, on the basis of the last closing price of the main market for the security in question. If the last known closing price on the given valuation day is not representative, the valuation will be based on the probable realisation value estimated prudently and in good faith. The contracts of exchange are estimated on basis of the rates "forward" of closing date.. |
| b) Net realised gain or loss on investments |
| The net realised profit or loss on sales of securities are calculated based on the average cost of the securities sold. The net realised profit or loss on variation of exchange rates is recorded in the caption "Net realised Profit/ (Loss) on currencies" during the sale transaction. |
| c) Conversion of foreign currencies |
| The bank deposits, other net assets and the stock market value of securities in the portfolio in currencies other than the EURO are converted into EUROs at the exchange rate valid at the closing date. The income and expenses in currencies other than the EURO are converted into EUROs at the exchange rate valid at the date of payment. |
| d) Acquisition cost of the securities in the portfolio |
| For securities denominated in currencies other than the currency of the SICAV, the acquisition cost is calculated based on the exchange rate valid on the day of purchase. |

- Change in the net unrealised gain and lossChanges in net unrealised appreciation or depreciation at the end of the financial year also appear in the statement of operations and changes in net assets.
- Change in the securities portfolioThe table of changes in the securities portfolio is freely available at the registered office of the SICAV.
- Income, expenditure and related provisionsProvision is made daily for interest and dividends are recorded on the ex-date. The interest and income are recognised net of non-recoverable withholding taxes.

When the SICAV pays expenses concerning one Sub-Fund in particular, they are allocated to that Sub- Fund. Expenses not attributable to one Sub-Fund in particular are split between the different Sub-Funds at pro rata of the net asset value of each Sub-Fund.
- Combined financial statementsThe financial statements of the SICAV are expressed in the reference’s currency.

The consolidated financial statements of the SICAV are drawn up in EUR and are equal to the sum of the corresponding headings in the financial statements of each sub-fund, converted in these currency at the exchange rate at the date of the financial statements (Note 2).
- Difference from Foreign ExchangeThe exchange difference in the SICAV's total net assets is due to the variations between the exchange rate of the currencies in which the net assets of the various sub-funds are denominated between 31 March 2020 and 30 September 2020.


## NOTE 2 - EXCHANGE RATE
| 1  EUR	= | 1.07735 | CHF |
| --- | --- | --- |

NOTE 3 - TAXES AND EXPENSES PAYABLE
| Performance fee | 222.08 | EUR |
| --- | --- | --- |
| Management fee | 333,622.96 | EUR |
| Depositary fees | 53,932.62 | EUR |
| Subscription tax | 15,233.48 | EUR |
| Miscellaneous fees | 19,055.46 | EUR |
| Total | 422,066.60 | EUR |

| NOTE 4 - MANAGEMENT, ADVISORY AND DISTRIBUTION FEES |
| --- |
| Global Fund: The Company will pay the Management Company a remuneration consisting of a management fee at the annual rate of 0.075% p.a. with an annual minimum of EUR 7,500, supplemented by a management fee at an annual rate of 1.175%. The Management Company pays, at the sub-fund’s expense, to Mune Dos Pte. Ltd., the investment advisor, a remuneration consisting of an annual fee at the maimum rate of 1.25% p.a.. These fees are payable quarterly and calculated on the average net value of the sub-fund’s shares. Tactical Fund: The Company will pay the Management Company a remuneration consisting of a management fee at an annual rate of 0.075% p.a. with an annual minimum of EUR 7,500 (applicable to class A and class B), supplemented by a management fee at an annual rate of 1.925% for class A and 1.225% for class B. The fee is payable on a quarterly basis and is calculated on the average net value of the shares of each class of the sub-fund. This management fee may be used to pay for distribution or promotion services. The Management Company has designated, at its own expense, LESBROUSSARTS SERVICES as Investment Advisor for the Sub-Fund. |
| Quintillia The Company will pay the Management Company a remuneration consisting of a management fee at an annual rate of 0.10% p.a. with an annual minimum of EUR 10,000 (applicable to class A and class B), supplemented by a management fee at an annual rate of 1.00% for class A and 0.85% for class B. The Management Company pays to the Investment Advisor, IBEB S.A., a remuneration consisting of an annual fee set at : - 1% maximum for class A;
- 0,85% maximum for class B.
 These fees are payable quarterly and calculated on the average net value of the sub-fund’s shares. Logiver Indiciel Dynamic At the sub-fund's expense, the Company will pay the Management Company a remuneration taken from the sub-fund's assets and consisting of an annual fee at a single rate of 0.10% (with an annual minimum of EUR 15,000) payable at the end of each quarter and applied on the average net assets of the sub-fund during the past quarter. The Management Company will pay the Manager, LOGIVER S.A., at the sub-fund's expense, a remuneration taken from the sub-fund's assets and consisting of an annual fee at a single rate of: - 0,75% pour la classe Retail 1 - 0,75;
- 0,90% pour la classe Instit 1 - 0,90;
- 0,00% pour la classe Retail 2 - 0,00;
- 0,50% pour la classe Instit 2 - 0,50;
- 1,00% pour la classe Retail 3 - 1,00;
- 0,50% pour la classe Retail 4 - 0,50;
- 1,00% pour la classe Retail 5 - 1,00payable on a monthly basis and applied to the average net assets of the sub-fund during the past month. LOGIVER S.A. has appointed ARCHE WEALTH MANAGEMENT as its own investment advisor for this sub- fund.
 |

PBT - Global Asset Allocation :
The SICAV will pay the Management company, for the sub-fund’s account, remuneration deducted from the assets of the sub-fund and consisting of an annual fee at the single rate of 0.10% (with an annual minimum of EUR 15,000) payable at the end of each quarter and applied to the average net assets of the sub-fund over the past quarter.
The Management company will pay to the Investment Advisor, BCB & PARTNERS S.A., at the sub-fund's expense, remuneration consisting of a management fee of 1.30% per annum maximum for classes A- EUR and A-CHF.
The management fee is payable quarterly and is calculated on the average net value of the sub-fund's shares. This management fee can be used to remunerate distribution or promotion services.
No additional fee will be paid in respect of the exchange risk hedging applied to the A-CHF class. The Manager is assisted by two investment advisers:
Thriving Finance and Privaswiss Management SA
BCB & PARTNERS S.A. has designated both above , at its own expense, as Investment Advisor of the Sub-Fund.
Conviction Shares :
The SICAV will pay the Management Company a remuneration, which will be borne by the sub-fund, deducted from the assets of the sub-fund and consisting of an annual fee at the single rate of 0.10% (with an annual minimum of EUR 15,000) payable at the end of each quarter and applied to the average net assets of the sub-fund over the past quarter.
The Management Company will pay the Manager a remuneration, borne by the sub-fund, consisting of a management fee of 1.25% per annum.
The management fee is payable quarterly and is calculated on the average net value of the sub-fund's shares. This management fee can be used to remunerate distribution or promotion services.
Short Term Crossover Bond :
The Company pays the Management Company remuneration consisting of a management fee at the annual rate of 0.20% p.a with an annual minimum of EUR 15,000 supplemented by a management fee at the annual rate of:
- 0.50% for each of classes A, AH-CHF, AH-USD.
- 0.30% for each of classes B, BH-CHF, BH-USD.

The Management Company is also in charge of managing the hedging policy that will apply to the sub- fund's classes denominated in USD and CHF. To this end, an agreement on hedging against exchange rate risk has been entered into between the Management Company and the Company for an unlimited period.
Under the terms of this agreement and in consideration for these services, the Management Company receives from the Company, at the expense of the sub-fund's AH-CHF, AH-USD, BH-CHF and BH-USD classes, a monthly fee of 0.01% per month, calculated on the average net asset value during the month under review of these classes. This commission is payable quarterly.
The fee is payable on a quarterly basis and is calculated on the average net value of the shares of each class of the sub-fund. This management fee may be used to pay for distribution or promotion services. The Management Company has appointed HERAVEST SA as its own investment adviser for this Sub- Fund.
| NOTE 5 - PERFORMANCE FEE |
| --- |
| Quintillia Fund: Moreover, the Management Company will pay the Investment Adviser, at the sub-fund's expense, at the end of each quarter, a performance fee equivalent to 10% of the sub-fund's outperformance of the benchmark 1 Week EURIBOR index (hereinafter "the Benchmark Index") and compared with the benchmark NAV. The benchmark NAV corresponds to the highest NAV ever reached by the sub-fund after deduction of the performance fee. Subject to the principle of the High-Water Mark, the benchmark NAV will be maintained until a new benchmark NAV is determined, if any. The amount of the performance fee will be provisioned whenever the NAV is calculated, based upon the number of shares outstanding on this date. In the case of redemptions, the provisioned performance fee will be considered acquired and will be paid to the Investment Advisor. The first benchmark NAV of class A will be the NAV on the Valuation Day of 30 June 2014. The first benchmark NAV of class B is set at EUR 100. As at 30 September 2020, no performance fees were booked. |
| PBT - Global Asset Allocation: A performance fee (the “Performance Fee”) equivalent to 10% of the increase in NAV of a given share class compared with the return of three-month EURIBOR + 200 bps (the “Hurdle”) will also be paid to the Manager by the Management company, but for account of the sub-fund. This calculation will be carried out with a high water mark, whereby the performance fee will be due only if the NAV of a given share class exceeds its highest previously recorded level. The performance fee is calculated on gains net of fees. As soon as the performance since the start of the financial year is positive and surpasses its Hurdle on an annual basis (corresponding to a calendar year), a provision of 10% of this outperformance will be set aside when calculating the NAV. In the event that the NAV of a given share class should fall back below its high water mark, a weekly reversal of the provision will be carried out in the amount of 10% of this underperformance up to the amount provisioned since the beginning of the year. In the case of redemption, the proportional part of the provision for performance fee corresponding to the shares redeemed will be considered to have been earned by the Manager in accordance with the crystallisation principle. The performance fee will be paid in full to the Manager after 31 December each year. The auditor will verify the calculation of any performance fees accrued or paid as part of its annual audit. As at 30 September 2020, no performance fee has been booked. Conviction Shares : The Manager will also be paid a performance fee (the “Performance Fee”) by the Management Company but borne by the sub-fund, equivalent to 10% of the increase in NAV of a given share class compared with the performance of the MSCI World Equity EUR index (the “Benchmark”, ticker: MSERWI Index). This calculation will be carried out with a high water mark, whereby the performance fee will be due only if the NAV of a given share class exceeds its highest previously recorded level. The performance fee is calculated on gains net of fees. As soon as the performance since the start of the financial year is positive and surpasses its Benchmark on an annual basis (corresponding to a calendar year), a provision of 100% of this outperformance will be set aside when calculating the NAV. |

In the event that the NAV of a given share class should fall back below its high water mark, a weekly reversal of the provision will be carried out in the amount of 100% of this underperformance up to the amount provisioned since the beginning of the year.
In the case of redemption, the proportional part of the provision for the performance fee corresponding to the shares redeemed will be considered to have been earned by the Manager in accordance with the crystallisation principle. The performance fee will be paid in full to the Manager after 31 December each year.
The Company’s auditor will verify the calculation of any performance fees accrued or paid as part of its annual audit.
As at 30 September 2020, no performance fee has been booked.

## NOTE 6 - SUBSCRIPTION TAX
The SICAV is governed by Luxembourg tax laws.
In accordance with the legislation and regulations currently in force, the SICAV is subject in Luxembourg to subscription tax at an annual rate of 0.05%, payable quarterly and calculated on the net assets of the SICAV at the end of each quarter. This tax is reduced to 0,01 % a year net assets attributable to the classes of shares for institutional investors.
Tax is not payable on the round lot of net assets invested in UCIs already subject to this tax.
As the SICAV is registered in Belgium, it is subject to a further tax at the annual rate of 0.0925% calculated for 2020 on the basis of the value of the shares distributed in Belgium as recorded at 31 December 2019.

## NOTE 7 - FUTURES
Futures contracts are valued by the broker on each bank business day. Unrealized gains/(losses) arising from futures contracts opened at the closing date are recorded directly in bank accounts. Any change in the margin call not yet transferred to bank accounts at the closing date is reflected in the account "Amounts receivable from/(payable to) futures broker".
As at 30 September 2020, the following futures transactions are open with the counterparty Banque Degroof Petercam Luxembourg S.A..
Global Fund :
| CCY | Number of CONTRACTS | Description | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | -400 | EURO STOXX 50 FUTURE DECEMBRE 2020 | 538,000.00 | 12,588,000.00 |
| Total | 538,000.00 | 12,588,000.00 |

Logiver Indiciel Dynamique :
| CCY | Number of CONTRACTS | Description | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| USD | -30 | SP 500 EMINI FUTURE DECEMBRE 2020 | 34,920.91 | 4,287,724.54 |
| Total | 34,920.91 | 4,287,724.54 |

Under these contracts on futures, the Fund is required to maintain a guarantee deposit of EUR 2.469.696,67 (Global Fund EUR 2.132.000,00 and Logiver Indiciel Dynamique EUR 337.696,67).

## NOTE 8 - FORWARD FOREIGN EXCHANGE CONTRACTS
As at 30 September 2020, the following forward foreign exchange contracts, traded with Banque Degroof Petercam Luxembourg S.A., are outstanding :
Logiver Indiciel Dynamique :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 30/11/2020 | EUR | 11,000,000.00 | USD | 13,031,150.00 | -97,133.11 | 11,112,565.97 |
| Total | -97,133.11 | 11,112,565.97 |

PBT - Global Asset Allocation :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 17/12/2020 | EUR | 1,302,870.97 | CHF | 1,400,000.00 | 3,833.98 | 1,299,484.90 |
| 16/12/2020 | CHF | 4,950,000.00 | EUR | 4,607,222.64 | -14,642.39 | 4,594,607.33 |
| 17/12/2020 | EUR | 1,436,757.32 | USD | 1,700,000.00 | -16,782.10 | 1,449,707.98 |
|  |  |  |  | Total | -27,590.51 | 7,343,800.21 |

Conviction Shares :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 18/12/2020 | USD | 4,500,000.00 | EUR | 3,829,917.61 | 392.37 | 3,837,462.30 |
| 18/12/2020 | USD | 2,000,000.00 | EUR | 1,770,538.24 | -68,305.89 | 1,705,538.80 |
| 18/12/2020 | EUR | 1,830,998.81 | USD | 2,000,000.00 | 128,489.67 | 1,705,538.80 |
| 18/12/2020 | EUR | 639,063.60 | USD | 760,000.00 | -7,889.87 | 648,104.74 |
| 18/12/2020 | EUR | 7,354,213.53 | USD | 8,500,000.00 | 118,549.70 | 7,248,539.90 |
|  |  |  |  | Total | 171,235.98 | 15,145,184.54 |

Short Term Crossover Bond :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 15/10/2020 | CHF | 1,079,298.00 | EUR | 1,003,904.75 | -2,004.57 | 1,001,808.18 |
| Total | -2,004.57 | 1,001,808.18 |


## NOTE 9 - SECURITIES LENDING
As at 30 September 2020 there is no lent securities.
The SICAV may lend securities in its portfolio to a borrower, either directly or through a standardised lending system organised by a recognised clearing institution, or through a lending system organised by a financial institution subject to prudential supervision rules considered by the CSSF as equivalent to those prescribed by Community legislation and specialised in this type of transactions.
No income booked for this period.

## NOTE 10 - EVENT OCCURRING DURING THE PERIOD
The COVID-19 (coronavirus) pandemic, which is seriously threatening the health of the world's population and has severely disrupted people's daily lives for several months, is having a major impact on the global economy. All sectors of the economy are affected and some are being hit harder. This is expected to have a negative impact on the valuation of equities, bonds, funds and other investments in fiscal 2020. The measures taken by health authorities to contain the spread of the virus, while necessary, will also have a significant impact on economic activity. However, it should be stressed that although these effects are significant, they will be temporary. Authorities around the world have taken strong and necessary measures to contain the spread of the virus and to support individuals and businesses in these very difficult times. The Board of Directors is not currently in a position to accurately estimate the consequences of this event, but is closely monitoring the situation.
| OVERALL RISK ASSESSMENT |
| --- |
| Each sub-fund of the investment company with variable capital must ensure that its overall risk on derivatives does not exceed the total net value of its portfolio. Global exposure is a measure designed to limit the leverage generated by each Sub-Fund through the use of financial derivative instruments. In order to calculate global exposure, each Sub-Fund will use the commitment approach, thereby aggregating the market value of the equivalent position of underlying assets. The commitment method entails converting positions on derivatives into equivalent positions on underlying assets and then aggregating the market value of these equivalent positions. |
| TRANSPARENCY OF SECURITIES FINANCING TRANSACTIONS AND REUSE: In accordance with Article 13 and Section A of the Annex to Regulation EU 2015/2365 (hereinafter the "Regulation"), the SICAV must inform investors of its use of securities financing transactions and total return swaps in the annual and semi-annual reports. The portfolio does not contain any assets on loan as of the date of this report. |

Translation (ENFR, 2020-09-30):
# du 1 avril 2020 au 30 septembre 2020
|  |  |  |
| --- | --- | --- |
|  | Notes | Combiné (en EUR) |
|  |
| Revenus |  |  |
| Dividendes reçus sur actions | 1g | 567.860,23 |
| Intérêts reçus sur obligations | 1g | 232.894,21 |
| Intérêts créditeurs |  | 5.884,91 |
| Autres revenus |  | 200,54 |
| Total Revenus |  | 806.839,89 |
| Charges |  |  |
| Commission de gestion | 4 | 796.075,17 |
| Commission de couverture |  | 481,72 |
| Commission de banque dépositaire |  | 105.571,96 |
| Taxe d'abonnement | 5 | 55.431,50 |
| Frais d'administration |  | 185.275,37 |
| Frais et commissions divers |  | 60.460,01 |
| Frais de transactions |  | 62.987,04 |
| Intérêts débiteurs |  | 36.385,74 |
| Redevance aux autorités étrangères |  | 4.050,56 |
| Total charges |  | 1.306.719,07 |
| Revenus / Pertes Net(te)s |  | -499.879,18 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -1.813.021,00 |
| - sur devises |  | -110.499,60 |
| - sur changes à terme |  | 881.678,23 |
| - sur opérations à terme |  | -1.918.308,73 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -3.460.030,28 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 20.060.044,18 |
| - sur devises |  | 1.992,11 |
| - sur changes à terme |  | -91.675,60 |
| - sur opérations à terme |  | 1.059.300,77 |
| Résultat net des opérations |  | 17.569.631,18 |
| - Souscriptions |  | 21.508.371,52 |
| - Rachats |  | -15.415.154,43 |
| Variations de l'actif net |  | 23.662.848,27 |
| Actif net au début de la période |  | 137.431.873,96 |
| Actif net à la fin de la période |  | 161.094.722,23 |

|  |
| --- |
| Global Fund |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 18.181.648,97 |
| Avoirs en banque |  | 1.106.417,89 |
| Intérêts à recevoir sur dépôt |  | 0,00 |
| Intérêts à recevoir sur obligations |  | 0,00 |
| Dividendes à recevoir sur actions |  | 27.760,03 |
| Gains non réalisés sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 2.132.000,00 |
| Total Actif |  | 21.447.826,89 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 100.419,35 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 388,99 |
| Intérêts à payer sur dépôt |  | 0,00 |
| Montants à payer sur rachats |  | 0,00 |
| Pertes non réalisées sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Exigible |  | 100.808,34 |
| Actif net à la fin de la période |  | 21.347.018,55 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - CAP |  | 21.454,125 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - CAP |  | 995,01 |

|  |
| --- |
| Tactical Fund |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 22.228.143,09 |
| Avoirs en banque |  | 1.534.454,34 |
| Intérêts à recevoir sur dépôt |  | 0,00 |
| Intérêts à recevoir sur obligations |  | 73.398,40 |
| Dividendes à recevoir sur actions |  | 13.511,52 |
| Gains non réalisés sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Actif |  | 23.849.507,35 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 97.254,50 |
| Découverts en banque |  | 688,58 |
| Intérêts débiteurs à payer |  | 364,31 |
| Intérêts à payer sur dépôt |  | 0,00 |
| Montants à payer sur rachats |  | 0,00 |
| Pertes non réalisées sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Exigible |  | 98.307,39 |
| Actif net à la fin de la période |  | 23.751.199,96 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A |  | 70,709 |
| - B |  | 138.658,540 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A |  | 157,01 |
| - B |  | 171,21 |

|  |
| --- |
| Quintillia Fund |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 3.795.625,31 |
| Avoirs en banque |  | 1.216.184,40 |
| Intérêts à recevoir sur dépôt |  | 26,18 |
| Intérêts à recevoir sur obligations |  | 17.939,40 |
| Dividendes à recevoir sur actions |  | 954,87 |
| Gains non réalisés sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Actif |  | 5.030.730,16 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 20.564,49 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 81,55 |
| Intérêts à payer sur dépôt |  | 965,50 |
| Montants à payer sur rachats |  | 0,00 |
| Pertes non réalisées sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Exigible |  | 21.611,54 |
| Actif net à la fin de la période |  | 5.009.118,62 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A |  | 3.840,000 |
| - B |  | 11.728,000 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A |  | 999,89 |
| - B |  | 99,72 |

|  |
| --- |
| Logiver Indiciel Dynamique |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 69.940.002,94 |
| Avoirs en banque |  | 5.965.858,11 |
| Intérêts à recevoir sur dépôt |  | 0,00 |
| Intérêts à recevoir sur obligations |  | 0,00 |
| Dividendes à recevoir sur actions |  | 0,00 |
| Gains non réalisés sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 340.821,08 |
| Total Actif |  | 76.246.682,13 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 56.352,55 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 1.943,73 |
| Intérêts à payer sur dépôt |  | 0,00 |
| Montants à payer sur rachats |  | 23.722,25 |
| Pertes non réalisées sur changes à terme | 8 | 97.133,11 |
| Dépôts de garantie sur futures | 7 | 3.124,41 |
| Total Exigible |  | 182.276,05 |
| Actif net à la fin de la période |  | 76.064.406,08 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - Instit 1-0,90 |  | 1.916,110 |
| - Retail 1-0,75 |  | 21.814,584 |
| - Retail 2-0,00 |  | 11.091,332 |
| - Retail 3-1,00 |  | 4.344,390 |
| - Retail 4-0,50 |  | 2.244,547 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - Instit 1-0,90 |  | 9.922,15 |
| - Retail 1-0,75 |  | 1.418,38 |
| - Retail 2-0,00 |  | 1.471,04 |
| - Retail 3-1,00 |  | 1.487,70 |
| - Retail 4-0,50 |  | 1.484,59 |

|  |
| --- |
| PBT - Global Asset Allocation |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 10.102.282,20 |
| Avoirs en banque |  | 2.256.336,83 |
| Intérêts à recevoir sur dépôt |  | 0,00 |
| Intérêts à recevoir sur obligations |  | 6.274,96 |
| Dividendes à recevoir sur actions |  | 0,00 |
| Gains non réalisés sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Actif |  | 12.364.893,99 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 52.295,69 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 796,66 |
| Intérêts à payer sur dépôt |  | 0,00 |
| Montants à payer sur rachats |  | 0,00 |
| Pertes non réalisées sur changes à terme | 8 | 27.590,51 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Exigible |  | 80.682,86 |
| Actif net à la fin de la période |  | 12.284.211,13 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A CHF |  | 52.275,000 |
| - A EUR |  | 82.145,314 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A CHF |  | 93,45 |
| - A EUR |  | 94,39 |

|  |
| --- |
| Conviction Shares |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 16.856.856,38 |
| Avoirs en banque |  | 311.690,50 |
| Intérêts à recevoir sur dépôt |  | 0,00 |
| Intérêts à recevoir sur obligations |  | 0,00 |
| Dividendes à recevoir sur actions |  | 1.185,92 |
| Gains non réalisés sur changes à terme | 8 | 171.235,98 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Actif |  | 17.340.968,78 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 76.253,50 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 164,43 |
| Intérêts à payer sur dépôt |  | 0,00 |
| Montants à payer sur rachats |  | 17.394,40 |
| Pertes non réalisées sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Exigible |  | 93.812,33 |
| Actif net à la fin de la période |  | 17.247.156,45 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A EUR |  | 165.848,000 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A EUR |  | 103,99 |

|  |
| --- |
| Short Term Crossover Bond |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 5.289.375,25 |
| Avoirs en banque |  | 48.359,46 |
| Intérêts à recevoir sur dépôt |  | 0,00 |
| Intérêts à recevoir sur obligations |  | 74.896,00 |
| Dividendes à recevoir sur actions |  | 0,00 |
| Gains non réalisés sur changes à terme | 8 | 0,00 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Actif |  | 5.412.630,71 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 18.926,52 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 88,18 |
| Intérêts à payer sur dépôt |  | 0,00 |
| Montants à payer sur rachats |  | 0,00 |
| Pertes non réalisées sur changes à terme | 8 | 2.004,57 |
| Dépôts de garantie sur futures | 7 | 0,00 |
| Total Exigible |  | 21.019,27 |
| Actif net à la fin de la période |  | 5.391.611,44 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A EUR |  | 4.225,000 |
| - BH CHF |  | 1.025,000 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A EUR |  | 1.040,68 |
| - BH CHF |  | 1.045,54 |

|  |
| --- |
| Global Fund |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes reçus sur actions | 1g | 190.558,28 |
| Intérêts reçus sur obligations | 1g | 0,00 |
| Intérêts créditeurs |  | 2.142,81 |
| Autres revenus |  | 138,43 |
| Total Revenus |  | 192.839,52 |
| Charges |  |  |
| Commission de gestion | 4 | 142.651,70 |
| Commission de couverture |  | 0,00 |
| Commission de banque dépositaire |  | 10.260,12 |
| Taxe d'abonnement | 5 | 3.391,61 |
| Frais d'administration |  | 32.195,43 |
| Frais et commissions divers |  | 10.206,38 |
| Frais de transactions |  | 10.229,61 |
| Intérêts débiteurs |  | 6.790,03 |
| Redevance aux autorités étrangères |  | 2.550,25 |
| Total charges |  | 218.275,13 |
| Revenus / Pertes Net(te)s |  | -25.435,61 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 1.485.604,38 |
| - sur devises |  | -70.798,71 |
| - sur changes à terme |  | 0,00 |
| - sur opérations à terme |  | -144.990,00 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 1.244.380,06 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 1.258.388,67 |
| - sur devises |  | 0,51 |
| - sur changes à terme |  | 0,00 |
| - sur opérations à terme |  | 538.000,00 |
| Résultat net des opérations |  | 3.040.769,24 |
| - Souscriptions |  | 38.792,36 |
| - Rachats |  | -8.985.465,50 |
| Variations de l'actif net |  | -5.905.903,90 |
| Actif net au début de la période |  | 27.252.922,45 |
| Actif net à la fin de la période |  | 21.347.018,55 |

|  |
| --- |
| Tactical Fund |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes reçus sur actions | 1g | 238.513,40 |
| Intérêts reçus sur obligations | 1g | 112.343,78 |
| Intérêts créditeurs |  | 172,86 |
| Autres revenus |  | 26,33 |
| Total Revenus |  | 351.056,37 |
| Charges |  |  |
| Commission de gestion | 4 | 154.492,43 |
| Commission de couverture |  | 0,00 |
| Commission de banque dépositaire |  | 10.670,12 |
| Taxe d'abonnement | 5 | 5.987,86 |
| Frais d'administration |  | 39.794,85 |
| Frais et commissions divers |  | 10.678,90 |
| Frais de transactions |  | 15.822,21 |
| Intérêts débiteurs |  | 1.408,98 |
| Redevance aux autorités étrangères |  | 1.500,31 |
| Total charges |  | 240.355,66 |
| Revenus / Pertes Net(te)s |  | 110.700,71 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -2.132.912,59 |
| - sur devises |  | -9.661,69 |
| - sur changes à terme |  | 0,00 |
| - sur opérations à terme |  | 0,00 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -2.031.873,57 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 4.595.355,47 |
| - sur devises |  | 5.081,75 |
| - sur changes à terme |  | 0,00 |
| - sur opérations à terme |  | 0,00 |
| Résultat net des opérations |  | 2.568.563,65 |
| - Souscriptions |  | 0,00 |
| - Rachats |  | -1.145.124,80 |
| Variations de l'actif net |  | 1.423.438,85 |
| Actif net au début de la période |  | 22.327.761,11 |
| Actif net à la fin de la période |  | 23.751.199,96 |

|  |
| --- |
| Quintillia Fund |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes reçus sur actions | 1g | 13.106,40 |
| Intérêts reçus sur obligations | 1g | 26.222,56 |
| Intérêts créditeurs |  | 376,08 |
| Autres revenus |  | 0,00 |
| Total Revenus |  | 39.705,04 |
| Charges |  |  |
| Commission de gestion | 4 | 29.903,85 |
| Commission de couverture |  | 0,00 |
| Commission de banque dépositaire |  | 5.013,70 |
| Taxe d'abonnement | 5 | 985,77 |
| Frais d'administration |  | 13.135,64 |
| Frais et commissions divers |  | 1.883,46 |
| Frais de transactions |  | 2.755,98 |
| Intérêts débiteurs |  | 2.533,87 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total charges |  | 56.212,27 |
| Revenus / Pertes Net(te)s |  | -16.507,23 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -7.744,43 |
| - sur devises |  | 10.021,23 |
| - sur changes à terme |  | 0,00 |
| - sur opérations à terme |  | 0,00 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -14.230,43 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 66.612,21 |
| - sur devises |  | -8.807,07 |
| - sur changes à terme |  | 0,00 |
| - sur opérations à terme |  | 0,00 |
| Résultat net des opérations |  | 43.574,71 |
| - Souscriptions |  | 0,00 |
| - Rachats |  | -162.228,38 |
| Variations de l'actif net |  | -118.653,67 |
| Actif net au début de la période |  | 5.127.772,29 |
| Actif net à la fin de la période |  | 5.009.118,62 |

|  |
| --- |
| Logiver Indiciel Dynamique |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes reçus sur actions | 1g | 0,00 |
| Intérêts reçus sur obligations | 1g | 0,00 |
| Intérêts créditeurs |  | 3.109,48 |
| Autres revenus |  | 35,78 |
| Total Revenus |  | 3.145,26 |
| Charges |  |  |
| Commission de gestion | 4 | 266.446,99 |
| Commission de couverture |  | 0,00 |
| Commission de banque dépositaire |  | 55.939,07 |
| Taxe d'abonnement | 5 | 37.769,48 |
| Frais d'administration |  | 35.207,11 |
| Frais et commissions divers |  | 24.024,23 |
| Frais de transactions |  | 4.917,12 |
| Intérêts débiteurs |  | 19.618,36 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total charges |  | 443.922,36 |
| Revenus / Pertes Net(te)s |  | -440.777,10 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -486.839,59 |
| - sur devises |  | -6.025,06 |
| - sur changes à terme |  | 734.266,33 |
| - sur opérations à terme |  | -1.615.725,51 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -1.815.100,93 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 9.369.393,04 |
| - sur devises |  | -624,11 |
| - sur changes à terme |  | -97.133,11 |
| - sur opérations à terme |  | 656.790,74 |
| Résultat net des opérations |  | 8.113.325,63 |
| - Souscriptions |  | 9.160.621,82 |
| - Rachats |  | -3.907.781,76 |
| Variations de l'actif net |  | 13.366.165,69 |
| Actif net au début de la période |  | 62.698.240,39 |
| Actif net à la fin de la période |  | 76.064.406,08 |

|  |
| --- |
| PBT - Global Asset Allocation |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes reçus sur actions | 1g | 59.340,53 |
| Intérêts reçus sur obligations | 1g | 38.827,53 |
| Intérêts créditeurs |  | 66,80 |
| Autres revenus |  | 0,00 |
| Total Revenus |  | 98.234,86 |
| Charges |  |  |
| Commission de gestion | 4 | 83.025,19 |
| Commission de couverture |  | 0,00 |
| Commission de banque dépositaire |  | 7.848,05 |
| Taxe d'abonnement | 5 | 1.966,69 |
| Frais d'administration |  | 24.279,50 |
| Frais et commissions divers |  | 7.049,31 |
| Frais de transactions |  | 2.520,05 |
| Intérêts débiteurs |  | 4.275,99 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total charges |  | 130.964,78 |
| Revenus / Pertes Net(te)s |  | -32.729,92 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -277.179,99 |
| - sur devises |  | -50.003,70 |
| - sur changes à terme |  | 168.236,95 |
| - sur opérations à terme |  | 0,00 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -191.676,66 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 1.258.221,80 |
| - sur devises |  | 6.330,14 |
| - sur changes à terme |  | -163.773,90 |
| - sur opérations à terme |  | 0,00 |
| Résultat net des opérations |  | 909.101,38 |
| - Souscriptions |  | 265.335,25 |
| - Rachats |  | -63.111,10 |
| Variations de l'actif net |  | 1.111.325,53 |
| Actif net au début de la période |  | 11.172.885,60 |
| Actif net à la fin de la période |  | 12.284.211,13 |

|  |
| --- |
| Conviction Shares |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes reçus sur actions | 1g | 66.341,62 |
| Intérêts reçus sur obligations | 1g | 0,00 |
| Intérêts créditeurs |  | 16,52 |
| Autres revenus |  | 0,00 |
| Total Revenus |  | 66.358,14 |
| Charges |  |  |
| Commission de gestion | 4 | 101.872,77 |
| Commission de couverture |  | 0,00 |
| Commission de banque dépositaire |  | 11.551,28 |
| Taxe d'abonnement | 5 | 4.003,22 |
| Frais d'administration |  | 22.498,45 |
| Frais et commissions divers |  | 3.491,09 |
| Frais de transactions |  | 19.458,50 |
| Intérêts débiteurs |  | 838,67 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total charges |  | 163.713,98 |
| Revenus / Pertes Net(te)s |  | -97.355,84 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -421.286,18 |
| - sur devises |  | 12.178,41 |
| - sur changes à terme |  | 0,00 |
| - sur opérations à terme |  | -157.593,22 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -664.056,83 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 3.328.463,84 |
| - sur devises |  | 10,36 |
| - sur changes à terme |  | 171.235,98 |
| - sur opérations à terme |  | -135.489,97 |
| Résultat net des opérations |  | 2.700.163,38 |
| - Souscriptions |  | 6.846.143,84 |
| - Rachats |  | -1.151.442,89 |
| Variations de l'actif net |  | 8.394.864,33 |
| Actif net au début de la période |  | 8.852.292,12 |
| Actif net à la fin de la période |  | 17.247.156,45 |

|  |
| --- |
| Short Term Crossover Bond |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes reçus sur actions | 1g | 0,00 |
| Intérêts reçus sur obligations | 1g | 55.500,34 |
| Intérêts créditeurs |  | 0,36 |
| Autres revenus |  | 0,00 |
| Total Revenus |  | 55.500,70 |
| Charges |  |  |
| Commission de gestion | 4 | 17.682,24 |
| Commission de couverture |  | 481,72 |
| Commission de banque dépositaire |  | 4.289,62 |
| Taxe d'abonnement | 5 | 1.326,87 |
| Frais d'administration |  | 18.164,39 |
| Frais et commissions divers |  | 3.126,64 |
| Frais de transactions |  | 7.283,57 |
| Intérêts débiteurs |  | 919,84 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total charges |  | 53.274,89 |
| Revenus / Pertes Net(te)s |  | 2.225,81 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 27.337,40 |
| - sur devises |  | 3.789,92 |
| - sur changes à terme |  | -20.825,05 |
| - sur opérations à terme |  | 0,00 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 12.528,08 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 183.609,15 |
| - sur devises |  | 0,53 |
| - sur changes à terme |  | -2.004,57 |
| - sur opérations à terme |  | 0,00 |
| Résultat net des opérations |  | 194.133,19 |
| - Souscriptions |  | 5.197.478,25 |
| - Rachats |  | 0,00 |
| Variations de l'actif net |  | 5.391.611,44 |
| Actif net au début de la période |  | 0,00 |
| Actif net à la fin de la période |  | 5.391.611,44 |

|  |
| --- |
| Global Fund |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| NESTLE -REG- | 9.600 | CHF | 828.454,28 | 962.000,09 | 4,51% |
| ROCHE HLDG A.G. -PARTICIPATION CERTIFICATE- | 2.200 | CHF | 560.908,14 | 675.920,18 | 3,17% |
| Total FRANC SUISSE |  |  | 1.389.362,42 | 1.637.920,27 | 7,67% |
| ANHEUSER-BUSCH INBEV | 17.500 | EUR | 740.930,64 | 783.650,00 | 3,67% |
| DANONE | 12.000 | EUR | 759.840,00 | 652.800,00 | 3,06% |
| DEUTSCHE BETEILIGUNGS A.G. -REG- | 2.000 | EUR | 81.001,06 | 61.800,00 | 0,29% |
| FRESENIUS SE & CO KGAA | 12.000 | EUR | 407.023,90 | 460.200,00 | 2,16% |
| SANOFI S.A. S.A. | 10.000 | EUR | 788.356,36 | 871.400,00 | 4,08% |
| UNILEVER N.V. | 27.000 | EUR | 1.253.842,23 | 1.365.660,00 | 6,40% |
| Total EURO |  |  | 4.030.994,19 | 4.195.510,00 | 19,65% |
| ASTRAZENECA PLC | 9.400 | GBP | 672.598,00 | 878.805,02 | 4,12% |
| DIAGEO PLC | 38.000 | GBP | 1.092.847,64 | 1.041.419,99 | 4,88% |
| Total LIVRE STERLING |  |  | 1.765.445,64 | 1.920.225,01 | 9,00% |
| BRISTOL-MYERS SQUIBB | 15.500 | USD | 826.132,06 | 775.632,49 | 3,63% |
| GLAXOSMITHKLINE PLC -ADR- | 24.000 | USD | 804.504,75 | 770.688,54 | 3,61% |
| NVIDIA CORP | 2.000 | USD | 574.476,90 | 848.623,34 | 3,98% |
| Total DOLLAR DES ETATS-UNIS |  |  | 2.205.113,71 | 2.394.944,37 | 11,22% |
| Total Actions Cotées ou Négociées |  |  | 9.390.915,96 | 10.148.599,65 | 47,54% |
| Instruments du marché monétaire |  |  |  |  |  |
| US TREASURY 0,00 20-291020 | 200.000 | USD | 182.517,12 | 171.799,32 | 0,80% |
| Total DOLLAR DES ETATS-UNIS |  |  | 182.517,12 | 171.799,32 | 0,80% |
| Total Instruments du marché monétaire |  |  | 182.517,12 | 171.799,32 | 0,80% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 9.573.433,08 | 10.320.398,97 | 48,35% |
| Fonds d'investissements |  |  |  |  |  |
| AMUNDI IS EURO STOXX 50 -C- -CAP- | 55.000 | EUR | 3.402.413,66 | 3.951.750,00 | 18,51% |
| LYXOR INDEX FUND EURO STOXX 50 | 25.000 | EUR | 3.317.280,72 | 3.909.500,00 | 18,31% |
| Total EURO |  |  | 6.719.694,38 | 7.861.250,00 | 36,83% |
| Total Fonds d'investissements |  |  | 6.719.694,38 | 7.861.250,00 | 36,83% |

Global Fund
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
| --- | --- | --- | --- | --- | --- |

| Autres valeurs mobilières | 767.000 | SGD |  |  |  |
| --- | --- | --- | --- | --- | --- |
| CELESTIAL NUTRIFOODS LTD | 142.226,68 | 0,00 | 0,00% |
| Total DOLLAR DE SINGAPOUR | 142.226,68 | 0,00 | 0,00% |
| Total Autres valeurs mobilières | 142.226,68 | 0,00 | 0,00% |
| Total du Portefeuille-Titres | 16.435.354,14 | 18.181.648,97 | 85,17% |

|  |
| --- |
| Tactical Fund |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| CENOVUS ENERGY INC. | 22.000 | CAD | 230.724,70 | 72.895,59 | 0,31% |
| Total DOLLAR CANADIEN |  |  | 230.724,70 | 72.895,59 | 0,31% |
| ADECCO S.A. -REG- | 14.700 | CHF | 847.705,86 | 664.218,68 | 2,80% |
| ARYZTA A.G. | 321.000 | CHF | 894.697,19 | 180.857,66 | 0,76% |
| LAFARGE-HOLCIM LTD | 7.484 | CHF | 357.752,61 | 291.690,87 | 1,23% |
| Total FRANC SUISSE |  |  | 2.100.155,66 | 1.136.767,21 | 4,79% |
| CESKE ENERGETICKE ZAVODY A.S. (CEZ) (CEZ) | 14.060 | CZK | 290.799,44 | 226.820,24 | 0,95% |
| Total COURONNE TCHÈQUE |  |  | 290.799,44 | 226.820,24 | 0,95% |
| A2A SpA | 250.000 | EUR | 297.480,00 | 310.000,00 | 1,31% |
| ADMIE CO HLDG S.A. | 232.000 | EUR | 343.325,45 | 544.040,00 | 2,29% |
| AEGON N.V. | 248.338 | EUR | 1.340.740,05 | 551.310,36 | 2,32% |
| ALPHA BANK AE | 189.655 | EUR | 375.421,93 | 98.241,29 | 0,41% |
| ATRESMEDIA CORP. | 100.000 | EUR | 277.320,00 | 225.600,00 | 0,95% |
| AUTOGRILL SpA | 33.000 | EUR | 203.275,20 | 127.380,00 | 0,54% |
| BANCO BPM SpA | 148.018 | EUR | 728.736,06 | 213.886,01 | 0,90% |
| BANK OF CYPRUS HLDG PLC | 110.751 | EUR | 722.771,23 | 49.339,57 | 0,21% |
| BASTIDE LE CONFORT MEDICAL S.A. | 16.219 | EUR | 335.730,32 | 782.566,75 | 3,29% |
| BILFINGER SE | 16.530 | EUR | 698.240,54 | 257.702,70 | 1,09% |
| BOLLORE | 200.060 | EUR | 476.903,03 | 637.791,28 | 2,69% |
| CAIRO MEZZ PLC | 25.000 | EUR | 0,00 | 1.797,50 | 0,01% |
| CATERING INTERNATIONAL SERVICES | 15.414 | EUR | 200.673,40 | 161.847,00 | 0,68% |
| CIMENTS VICAT | 11.156 | EUR | 711.746,19 | 318.503,80 | 1,34% |
| COMMERZBANK A.G. | 74.440 | EUR | 787.679,26 | 312.126,92 | 1,31% |
| DEUTSCHE BANK -REG- | 60.000 | EUR | 1.451.274,24 | 431.400,00 | 1,82% |
| ELIOR SCA | 40.289 | EUR | 303.459,33 | 159.544,44 | 0,67% |
| ERYTECH PHARMACEUTICAL | 9.000 | EUR | 205.678,40 | 46.350,00 | 0,20% |
| EUROBANK HLDG S.A. | 300.000 | EUR | 154.072,00 | 113.190,00 | 0,48% |
| EXPERT SYSTEM SpA | 40.000 | EUR | 94.269,28 | 92.000,00 | 0,39% |
| FOURLIS HLDG S.A. | 14.770 | EUR | 63.320,47 | 55.830,60 | 0,24% |
| FRAPORT A.G. | 10.000 | EUR | 433.556,00 | 337.800,00 | 1,42% |
| HIGH CO | 116.901 | EUR | 731.339,08 | 522.547,47 | 2,20% |
| LA FRANCAISE DE L'ENERGIE S.A. | 11.317 | EUR | 101.821,37 | 174.281,80 | 0,73% |
| LEONARDO SPA | 40.000 | EUR | 356.431,00 | 200.000,00 | 0,84% |
| MAISONS DU MONDE S.A | 7.770 | EUR | 240.459,55 | 99.766,80 | 0,42% |
| MOTA-ENGIL SGPS S.A. | 150.000 | EUR | 194.100,00 | 162.600,00 | 0,68% |
| NATIONAL BANK OF GREECE S.A. | 300.000 | EUR | 1.077.508,86 | 324.000,00 | 1,36% |
| NOS SGPS | 85.000 | EUR | 264.928,00 | 257.550,00 | 1,08% |
| PROSIEBENSAT.1 MEDIA SE | 37.172 | EUR | 906.129,37 | 416.512,26 | 1,75% |
| RENAULT S.A. S.A. | 11.600 | EUR | 981.797,32 | 257.462,00 | 1,08% |
| ROYAL DUTCH SHELL PLC -A- | 9.661 | EUR | 267.577,48 | 104.126,26 | 0,44% |
| SAFRAN S.A. -PREF NOM- | 16.864 | EUR | 1.423.801,65 | 1.423.996,16 | 6,00% |

Tactical Fund
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
| --- | --- | --- | --- | --- | --- |

| SAIPEM SpA | 130.000 | EUR | 506.690,00 | 190.775,00 | 0,80% |
| --- | --- | --- | --- | --- | --- |
| SERVIZI ITALIA SpA | 51.797 | EUR | 203.223,94 | 108.773,70 | 0,46% |
| THE NAVIGATOR CO S.A. | 75.000 | EUR | 224.158,60 | 159.300,00 | 0,67% |
| TOTAL SE | 20.472 | EUR | 673.777,60 | 597.782,40 | 2,52% |
| VALEO S.A. | 24.400 | EUR | 730.255,24 | 640.500,00 | 2,70% |
| VILMORIN ET CIE | 12.240 | EUR | 579.762,62 | 610.776,00 | 2,57% |
| WEBUILD SpA | 300.000 | EUR | 460.254,00 | 299.700,00 | 1,26% |
| Total EURO |  |  | 20.129.688,06 | 12.378.698,07 | 52,12% |
| BIFFA PLC | 89.467 | GBP | 202.431,23 | 214.531,43 | 0,90% |
| BT GROUP PLC | 309.399 | GBP | 1.067.276,20 | 335.578,79 | 1,41% |
| CAPITA PLC | 150.000 | GBP | 361.439,85 | 50.553,99 | 0,21% |
| HSS HIRE GROUP PLC | 128.660 | GBP | 49.006,42 | 25.815,69 | 0,11% |
| KIER GROUP PLC | 58.969 | GBP | 38.834,11 | 31.660,77 | 0,13% |
| MITIE GROUPE PLCE PLC | 302.722 | GBP | 110.395,69 | 109.467,86 | 0,46% |
| PETROFAC LTD | 39.200 | GBP | 217.169,81 | 48.165,37 | 0,20% |
| RENEWI PLC | 320.458 | GBP | 197.969,28 | 68.610,26 | 0,29% |
| VECTURA GROUP PLC | 117.692 | GBP | 155.015,59 | 133.645,07 | 0,56% |
| Total LIVRE STERLING |  |  | 2.399.538,18 | 1.018.029,23 | 4,29% |
| ENEA S.A. | 100.000 | PLN | 207.698,45 | 125.719,58 | 0,53% |
| KRUK S.A. | 6.000 | PLN | 263.540,55 | 173.625,36 | 0,73% |
| Total ZLOTY POLONAIS |  |  | 471.239,00 | 299.344,94 | 1,26% |
| ACADEMEDIA AB | 80.948 | SEK | 486.534,36 | 569.977,58 | 2,40% |
| ATTENDO AB | 65.381 | SEK | 299.917,64 | 304.252,69 | 1,28% |
| TELEFONAB ERICSSON -B- FRIA | 14.500 | SEK | 143.179,39 | 135.781,42 | 0,57% |
| Total COURONNE SUÉDOISE |  |  | 929.631,39 | 1.010.011,69 | 4,25% |
| ENEL AMERICAS S.A. -ADR- | 44.500 | USD | 285.827,02 | 245.145,61 | 1,03% |
| MTN GROUP LTD -SPONSORED -ADR- - | 40.000 | USD | 302.695,84 | 116.658,85 | 0,49% |
| TELECOM ARGENTINA -SPONSORED -ADR- - | 36.000 | USD | 670.590,42 | 200.776,02 | 0,85% |
| Total DOLLAR DES ETATS-UNIS |  |  | 1.259.113,28 | 562.580,48 | 2,37% |
| Total Actions Cotées ou Négociées |  |  | 27.810.889,71 | 16.705.147,45 | 70,33% |
| Obligations |  |  |  |  |  |
| ASTALDI SpA CV 4,875 17-210624 | 300.000 | EUR | 299.400,00 | 30.556,50 | 0,13% |
| AXA FRN 04-PERPETUAL | 250.000 | EUR | 144.750,00 | 183.008,75 | 0,77% |
| BNP PARIBAS S.A. FRN 85-PERPETUAL | 500.000 | EUR | 280.000,00 | 317.525,00 | 1,34% |
| BOLLORE 2,875 15-290721 | 300.000 | EUR | 310.380,00 | 303.127,50 | 1,28% |
| CASINO GUICHARD-PERRACHON FRN 05-PERPETUAL | 850.000 | EUR | 527.015,00 | 186.596,25 | 0,79% |
| ELLAKTOR VALUE PLC 6,375 19-151224 | 200.000 | EUR | 193.450,00 | 174.567,00 | 0,73% |
| ERAMET 4,196 17-280224 | 300.000 | EUR | 295.800,00 | 229.012,50 | 0,96% |
| GREECE 3,50 17-300123 | 3.975 | EUR | 2.398,00 | 4.283,22 | 0,02% |
| GREECE FRN 12-151042 | 315.000 | EUR | 6.715,63 | 987,53 | 0,00% |
| ING GROUP FRN 04-PERPETUAL | 900.000 | EUR | 562.250,00 | 771.012,00 | 3,25% |

Tactical Fund
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
| --- | --- | --- | --- | --- | --- |

| K+S A.G. 2,625 17-060423 | 200.000 | EUR | 192.500,00 | 189.198,00 | 0,80% |
| --- | --- | --- | --- | --- | --- |
| PAPREC HLDG FRN 18-310325 | 350.000 | EUR | 326.200,00 | 329.070,00 | 1,39% |
| RALLYE S.A. 5,25 16-010222 | 300.000 | EUR | 299.700,00 | 36.423,00 | 0,15% |
| SELECTA GROUP B.V. 5,875 18-010224 | 300.000 | EUR | 298.650,00 | 163.548,00 | 0,69% |
| TELECOM ITALIA SpA 5,25 05-170355 | 300.000 | EUR | 237.744,00 | 354.130,50 | 1,49% |
| TUI A.G. 2,125 16-261021 | 500.000 | EUR | 498.000,00 | 458.460,00 | 1,93% |
| VALLOUREC S.A. 2,25 14-300924 | 200.000 | EUR | 161.200,00 | 109.938,00 | 0,46% |
| VALLOUREC S.A. 4,125 17-041022 | 45.000 | EUR | 331.200,00 | 157.747,50 | 0,66% |
| WEBUILD SpA 3,625 20-280127 | 300.000 | EUR | 252.720,00 | 244.998,00 | 1,03% |
| Total EURO |  |  | 5.220.072,63 | 4.244.189,25 | 17,87% |
| MTN INVESTMENTS LTD 4,755 14-111124 | 350.000 | USD | 280.512,94 | 306.796,57 | 1,29% |
| OI S.A. 10,00 18-270725 | 300.000 | USD | 242.498,89 | 247.834,82 | 1,04% |
| Total DOLLAR DES ETATS-UNIS |  |  | 523.011,83 | 554.631,39 | 2,34% |
| Total Obligations |  |  | 5.743.084,46 | 4.798.820,64 | 20,20% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 33.553.974,17 | 21.503.968,09 | 90,54% |
| Autres valeurs mobilières |  |  |  |  |  |
| ABENGOA ABENEWCO 2 SAU 19-111024 | 99.373 | EUR | 111.445,84 | 0,00 | 0,00% |
| ABENGOA ABENEWCO 2 SAU 19-111024 | 99.373 | EUR | 111.445,83 | 0,00 | 0,00% |
| BMPS-BANK OF NEW YORK FRN 08-301299 | 5.000.000 | EUR | 1.113.600,00 | 253.950,00 | 1,07% |
| FF GROUP FINANCE 1,75 14-030719 | 900.000 | EUR | 864.300,00 | 73.962,00 | 0,31% |
| UNICREDIT-MITSUBISHI FRN 09-151250 | 700.000 | EUR | 509.500,00 | 396.263,00 | 1,67% |
| Total EURO |  |  | 2.710.291,67 | 724.175,00 | 3,05% |
| THOMAS COOK GROUP PLC | 388.000 | GBP | 208.152,61 | 0,00 | 0,00% |
| Total LIVRE STERLING |  |  | 208.152,61 | 0,00 | 0,00% |
| ABENGOA ABENEWCO 2 SAU 19-111024 | 99.893 | USD | 0,00 | 0,00 | 0,00% |
| ABENGOA ABENEWCO 2 SAU 19-111024 | 99.893 | USD | 0,00 | 0,00 | 0,00% |
| Total DOLLAR DES ETATS-UNIS |  |  | 0,00 | 0,00 | 0,00% |
| Total Autres valeurs mobilières |  |  | 2.918.444,28 | 724.175,00 | 3,05% |
| Total du Portefeuille-Titres |  |  | 36.472.418,45 | 22.228.143,09 | 93,59% |

|  |
| --- |
| Quintillia Fund |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| ALCON S.A. | 175 | CHF | 0,00 | 8.529,87 | 0,17% |
| NOVARTIS -REG- | 875 | CHF | 55.944,69 | 65.147,52 | 1,30% |
| ROCHE HLDG A.G. -PARTICIPATION CERTIFICATE- | 300 | CHF | 71.902,21 | 88.845,73 | 1,77% |
| Total FRANC SUISSE |  |  | 127.846,90 | 162.523,12 | 3,24% |
| BANQUE NATIONALE DE BELGIUM | 19 | EUR | 49.254,06 | 34.295,00 | 0,68% |
| K+S A.G. | 2.333 | EUR | 46.536,32 | 13.246,77 | 0,26% |
| SANOFI S.A. S.A. | 883 | EUR | 63.709,12 | 76.096,94 | 1,52% |
| Total EURO |  |  | 159.499,50 | 123.638,71 | 2,47% |
| C.P. POKPHAND CO LTD | 700.183 | HKD | 68.550,81 | 56.990,25 | 1,14% |
| CK ASSET HLDG LTD | 3.762 | HKD | 0,00 | 15.579,05 | 0,31% |
| CK HUTCHISON HLDG LTD | 5.762 | HKD | 63.170,75 | 29.470,23 | 0,59% |
| Total DOLLAR DE HONG-KONG |  |  | 131.721,56 | 102.039,53 | 2,04% |
| KYOCERA CORP. | 1.080 | JPY | 46.327,52 | 53.118,06 | 1,06% |
| MITSUBISHI HEAVY INDUSTRIES LTD | 1.830 | JPY | 63.040,17 | 35.977,15 | 0,72% |
| TOKYO GAS CO LTD | 2.500 | JPY | 46.500,37 | 49.280,17 | 0,98% |
| TREND MICRO INC. | 1.330 | JPY | 28.444,91 | 69.189,85 | 1,38% |
| Total YEN JAPONAIS |  |  | 184.312,97 | 207.565,23 | 4,14% |
| YARA INTERNATIONAL | 1.625 | NOK | 51.120,21 | 52.685,63 | 1,05% |
| Total COURONNE NORVÉGIENNE |  |  | 51.120,21 | 52.685,63 | 1,05% |
| Total Actions Cotées ou Négociées |  |  | 654.501,14 | 648.452,22 | 12,95% |
| Obligations |  |  |  |  |  |
| CIE SAINT GOBAIN 0,625 19-150324 | 200.000 | EUR | 196.866,00 | 204.399,00 | 4,08% |
| LOUIS DREYFUS COMPANY 4,00 17-070222 | 100.000 | EUR | 100.600,00 | 101.508,50 | 2,03% |
| MEDTRONIC GLOBAL HLDG 1,125 19-070327 | 100.000 | EUR | 99.552,00 | 105.508,00 | 2,11% |
| SYNGENTA FINANCE FRN 20-160426 | 200.000 | EUR | 198.402,00 | 215.529,00 | 4,30% |
| Total EURO |  |  | 595.420,00 | 626.944,50 | 12,52% |
| INTERNATIONAL FINANCE CORP. 8,25 14-100621 | 8.000.000 | INR | 100.084,33 | 94.001,71 | 1,88% |
| Total ROUPIE INDIENNE |  |  | 100.084,33 | 94.001,71 | 1,88% |
| BANK OF AMERICA 3,248 16-211027 | 150.000 | USD | 136.462,89 | 141.548,03 | 2,83% |
| BAXTER INTERNATIONAL INC. 3,50 16-150846 | 200.000 | USD | 177.221,02 | 196.654,16 | 3,93% |
| BNG BANK N.V. 3,125 18-081121 | 200.000 | USD | 175.801,47 | 175.875,03 | 3,51% |

Quintillia Fund
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
| --- | --- | --- | --- | --- | --- |

| US TREASURY 1,625 19-311221 | 600.000 | USD | 554.944,37 | 521.075,31 | 10,40% |
| --- | --- | --- | --- | --- | --- |
| US TREASURY 2,875 18-150528 | 200.000 | USD | 173.069,26 | 201.003,22 | 4,01% |
| Total DOLLAR DES ETATS-UNIS |  |  | 1.217.499,01 | 1.236.155,75 | 24,68% |
| Total Obligations |  |  | 1.913.003,34 | 1.957.101,96 | 39,07% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 2.567.504,48 | 2.605.554,18 | 52,02% |
| Fonds d'investissements |  |  |  |  |  |
| DPAM MONEY MARKET L MONETARY EUR -B- -CAP- | 1.578 | EUR | 773.682,02 | 764.438,43 | 15,26% |
| PICTET-ABSOLUTE RETURN FIX HI EUR | 1.800 | EUR | 201.330,00 | 201.690,00 | 4,03% |
| PICTET TOTAL RETURN DIVERS ALPHA P | 1.870 | EUR | 196.350,00 | 207.962,70 | 4,15% |
| Total EURO |  |  | 1.171.362,02 | 1.174.091,13 | 23,44% |
| Total Fonds d'investissements |  |  | 1.171.362,02 | 1.174.091,13 | 23,44% |
| Options |  |  |  |  |  |
| PUT STOXX EUROPE 600 DÉCEMBRE 2020 ST 330 | 47 | EUR | 63.450,00 | 15.980,00 | 0,32% |
| Total EURO |  |  | 63.450,00 | 15.980,00 | 0,32% |
| Total Options |  |  | 63.450,00 | 15.980,00 | 0,32% |
| Total du Portefeuille-Titres |  |  | 3.802.316,50 | 3.795.625,31 | 75,77% |

|  |
| --- |
| Logiver Indiciel Dynamique |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Fonds d'investissements |  |  |  |  |  |
| DIMENSIONAL EUROPEAN SMALL -B- -CAP- | 63.683 | EUR | 1.880.992,03 | 2.194.526,24 | 2,89% |
| DIMENSIONAL EUROPE VALUE -B- EUR -CAP- | 719.346 | EUR | 6.938.909,23 | 6.948.884,57 | 9,14% |
| DIMENSIONAL GLOBAL SUS CORE EQUIT. -EA- | 109.751 | EUR | 2.418.920,00 | 2.211.489,92 | 2,91% |
| DIMENSIONAL GLOBAL VALUE FUND EUR | 242.370 | EUR | 2.700.000,00 | 2.612.746,85 | 3,43% |
| DIMENSIONAL-GL TARGETED VAL -B- -CAP- | 116.624 | EUR | 2.472.880,32 | 2.150.537,99 | 2,83% |
| DIMENSIONAL II MK TARGET -B- EUR -CAP- | 136.186 | EUR | 2.563.900,00 | 2.198.034,83 | 2,89% |
| DIMENSIONAL US SMALL COMPANIES -B- EUR -CAP- | 101.850 | EUR | 3.119.649,95 | 2.865.044,66 | 3,77% |
| DIMENSION GLOBAL SMALL CO EUR -CAP- | 362.541 | EUR | 7.703.644,38 | 7.627.855,32 | 10,03% |
| PICTET SOVGN SH-TERM MONEY MARKET EUR | 104.347 | EUR | 10.460.999,96 | 10.439.412,84 | 13,72% |
| VANGUARD EMERGING MARKETS STOCK INDEX -CAP- | 26.501 | EUR | 4.157.643,84 | 4.510.742,06 | 5,93% |
| VANGUARD INVESTMENT US 500 STOCK INDEX -CAP- | 254.940 | EUR | 6.409.155,34 | 8.448.658,96 | 11,11% |
| VANGUARD JAPAN STOCK INDEX EUR -CAP- | 16.569 | EUR | 2.687.233,06 | 3.366.999,75 | 4,43% |
| Total EURO |  |  | 53.513.928,11 | 55.574.933,99 | 73,06% |
| DIMENSIONAL EMERGING MARKETS -CAP- | 181.222 | GBP | 8.205.395,25 | 9.222.446,12 | 12,12% |
| Total LIVRE STERLING |  |  | 8.205.395,25 | 9.222.446,12 | 12,12% |
| ISHARES EDGE MSCI USA VALUE FACTOR UCITS STF UCITS STF | 257.388 | USD | 1.413.606,20 | 1.372.651,87 | 1,80% |
| SSGA SPDR MSCI USA VALUE -CAP- | 42.584 | USD | 1.396.340,06 | 1.406.272,46 | 1,85% |
| VANGUARD INVESTMENT US FUNDAMENTAL VALUE -CAP- | 8.096 | USD | 1.427.262,70 | 1.131.194,12 | 1,49% |
| VANGUARD PACIFIC EX JAPAN STOCK INDEX -CAP- | 6.034 | USD | 1.153.868,05 | 1.232.504,38 | 1,62% |
| Total DOLLAR DES ETATS-UNIS |  |  | 5.391.077,01 | 5.142.622,83 | 6,76% |
| Total Fonds d'investissements |  |  | 67.110.400,37 | 69.940.002,94 | 91,95% |
| Total du Portefeuille-Titres |  |  | 67.110.400,37 | 69.940.002,94 | 91,95% |

|  |
| --- |
| PBT - Global Asset Allocation |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| NESTLE -REG- | 3.270 | CHF | 215.966,26 | 330.760,71 | 2,69% |
| UBS GROUP A.G. | 28.375 | CHF | 388.999,90 | 268.696,67 | 2,19% |
| ZURICH INSURANCE GROUP A.G. | 870 | CHF | 227.442,63 | 264.905,40 | 2,16% |
| Total FRANC SUISSE |  |  | 832.408,79 | 864.362,78 | 7,04% |
| BNP PARIBAS S.A. | 4.333 | EUR | 281.834,41 | 136.294,52 | 1,11% |
| DAIMLER A.G. -REG- | 7.870 | EUR | 462.627,45 | 348.562,30 | 2,84% |
| L'OREAL | 1.260 | EUR | 242.401,92 | 349.650,00 | 2,85% |
| LVMH MOET HENNESSY.LOUIS VUITTON SE | 505 | EUR | 191.900,00 | 202.050,50 | 1,64% |
| TOTAL SE | 4.721 | EUR | 227.343,95 | 140.213,70 | 1,14% |
| VINCI S.A. | 3.385 | EUR | 287.849,80 | 243.720,00 | 1,98% |
| WORLDLINE S.A. | 1.680 | EUR | 117.549,89 | 125.025,60 | 1,02% |
| Total EURO |  |  | 1.811.507,42 | 1.545.516,62 | 12,58% |
| AMAZON.COM INC | 85 | USD | 121.744,78 | 218.433,29 | 1,78% |
| MICROSOFT CORP. | 1.500 | USD | 127.033,00 | 257.750,46 | 2,10% |
| Total DOLLAR DES ETATS-UNIS |  |  | 248.777,78 | 476.183,75 | 3,88% |
| Total Actions Cotées ou Négociées |  |  | 2.892.693,99 | 2.886.063,15 | 23,49% |
| Obligations |  |  |  |  |  |
| VOLKSWAGEN FINANCE SERVICES 1,375 18-161023 | 450.000 | EUR | 437.634,00 | 462.102,75 | 3,76% |
| Total EURO |  |  | 437.634,00 | 462.102,75 | 3,76% |
| AMERICAN EXPRESS FRN 17-010822 | 150.000 | USD | 124.030,05 | 129.339,74 | 1,05% |
| Total DOLLAR DES ETATS-UNIS |  |  | 124.030,05 | 129.339,74 | 1,05% |
| Total Obligations |  |  | 561.664,05 | 591.442,49 | 4,81% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 3.454.358,04 | 3.477.505,64 | 28,31% |
| Fonds d'investissements |  |  |  |  |  |
| TIKEHAU SHORT DURATION IR CHF -CAP- | 7.295 | CHF | 632.562,22 | 681.056,11 | 5,54% |
| Total FRANC SUISSE |  |  | 632.562,22 | 681.056,11 | 5,54% |
| ALLIANZ GLOBAL INVESTMENT EUR EQUIT. GROWTH PT -CAP- | 210 | EUR | 327.824,37 | 402.208,80 | 3,27% |
| AWF GLOBAL INFLATION SHORT DURATION BONDS | 6.100 | EUR | 615.612,00 | 619.028,00 | 5,04% |
| AXA GLOBAL INFLATION BOND -I- -CAP- | 2.312 | EUR | 360.033,78 | 395.282,64 | 3,22% |
| AXA WORLD FUNDS US SHORT DURATION HIGH YIELD -I- | 3.420 | EUR | 342.000,00 | 341.965,80 | 2,78% |
| ISHARES STOXX EUR 600 REAL ESTATE UCITS ETFUCITS ETF | 15.002 | EUR | 263.191,59 | 236.521,53 | 1,93% |
| ISHARES US TREASURY 7-10Y BOND -DIS- UCITS ETF UCITS ETF | 900 | EUR | 177.104,15 | 172.377,00 | 1,40% |

PBT - Global Asset Allocation
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
| --- | --- | --- | --- | --- | --- |

| ROBECO CAP GROWTH BP US PREMIUM EQUIT. | 825 | EUR | 208.334,74 | 186.012,75 | 1,51% |
| --- | --- | --- | --- | --- | --- |
| ROBECO EURO GOVT BONDS IH EUR -CAP- | 1.874 | EUR | 314.916,11 | 347.514,56 | 2,83% |
| ROBECO QI GLOBAL DYN DURATION IH EUR -CAP- | 4.132 | EUR | 630.412,84 | 677.317,44 | 5,51% |
| TIKEHAU CREDIT PLUS -A- -CAP- | 1.765 | EUR | 237.976,70 | 237.604,30 | 1,93% |
| VONTOBEL EMERGING MARKETS HNHE -CAP- | 5.970 | EUR | 600.343,20 | 581.776,50 | 4,74% |
| Total EURO |  |  | 4.077.749,48 | 4.197.609,32 | 34,17% |
| COMGEST GROWTH EMERGING MARKETS -I- USD | 10.135 | USD | 375.883,17 | 364.906,88 | 2,97% |
| CREDIT SUISSE LONDON IF2 GLOBAL ROBOTICS EQUITY | 140 | USD | 204.555,42 | 258.971,52 | 2,11% |
| ISHARES S&P500 INFORMATION TECHNO -CAP- UCITS ETF | 26.430 | USD | 179.030,18 | 320.710,11 | 2,61% |
| ROBECO CAP GROWTH GLOBAL CONS TRENDS EQUIT. | 762 | USD | 193.472,05 | 242.637,62 | 1,98% |
| Total DOLLAR DES ETATS-UNIS |  |  | 952.940,82 | 1.187.226,13 | 9,66% |
| Total Fonds d'investissements |  |  | 5.663.252,52 | 6.065.891,56 | 49,38% |
| Autres valeurs mobilières |  |  |  |  |  |
| BASKET EQ-UBS A.G. LONDON 20-150321 | 590.000 | EUR | 590.000,00 | 521.737,00 | 4,25% |
| Total EURO |  |  | 590.000,00 | 521.737,00 | 4,25% |
| Total Autres valeurs mobilières |  |  | 590.000,00 | 521.737,00 | 4,25% |
| Options |  |  |  |  |  |
| PUT DJ EURO STOXX 50 DÉCEMBRE 2020 ST 2550 | 148 | EUR | 154.216,00 | 37.148,00 | 0,30% |
| Total EURO |  |  | 154.216,00 | 37.148,00 | 0,30% |
| Total Options |  |  | 154.216,00 | 37.148,00 | 0,30% |
| Total du Portefeuille-Titres |  |  | 9.861.826,56 | 10.102.282,20 | 82,24% |

|  |
| --- |
| Conviction Shares |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| NESTLE -REG- | 1.800 | CHF | 172.496,56 | 182.681,58 | 1,06% |
| Total FRANC SUISSE |  |  | 172.496,56 | 182.681,58 | 1,06% |
| AIRBUS GROUP | 5.500 | EUR | 438.268,95 | 341.385,00 | 1,98% |
| AIR LIQUIDE | 1.200 | EUR | 137.581,38 | 162.600,00 | 0,94% |
| ASML HOLDING NV | 1.950 | EUR | 488.858,62 | 613.665,00 | 3,56% |
| GAZTRANSPORT ET TECHNIGAZ S.A. | 7.000 | EUR | 565.907,20 | 570.850,00 | 3,31% |
| KERING | 725 | EUR | 352.555,72 | 411.510,00 | 2,39% |
| KION GROUP AG | 8.500 | EUR | 520.021,76 | 622.030,00 | 3,61% |
| LVMH MOET HENNESSY.LOUIS VUITTON SE | 1.050 | EUR | 372.479,82 | 419.370,00 | 2,43% |
| MERSEN | 17.500 | EUR | 394.700,97 | 459.375,00 | 2,66% |
| ROYAL DUTCH SHELL PLC -A- | 30.000 | EUR | 606.721,57 | 323.340,00 | 1,87% |
| SAFRAN S.A. S.A. | 5.000 | EUR | 457.548,99 | 422.200,00 | 2,45% |
| SANOFI S.A. S.A. | 3.000 | EUR | 235.136,75 | 255.990,00 | 1,48% |
| SAP A.G. | 3.000 | EUR | 335.203,87 | 398.280,00 | 2,31% |
| SHOP APOTHEKE EUROPE N.V. | 4.450 | EUR | 247.966,42 | 664.830,00 | 3,85% |
| TELEPERFORMANCE | 2.400 | EUR | 431.682,69 | 632.640,00 | 3,67% |
| THALES S.A. 1,00 20-150528 S.A. 1,00 20-150528 | 4.000 | EUR | 321.244,76 | 256.640,00 | 1,49% |
| VINCI S.A. | 4.600 | EUR | 340.603,96 | 328.992,00 | 1,91% |
| WORLDLINE S.A. | 10.300 | EUR | 560.700,49 | 722.236,00 | 4,19% |
| Total EURO |  |  | 6.807.183,92 | 7.605.933,00 | 44,10% |
| TENCENT HOLDINGS LTD | 11.000 | HKD | 451.003,65 | 619.113,12 | 3,59% |
| Total DOLLAR DE HONG-KONG |  |  | 451.003,65 | 619.113,12 | 3,59% |
| ACTIVISION BLIZZARD INC. | 7.500 | USD | 490.070,08 | 517.737,60 | 3,00% |
| AKAMAI TECHNOLOGIES INC. | 5.200 | USD | 472.794,61 | 490.178,66 | 2,84% |
| ALIBABA GROUP HOLDING ADR | 3.200 | USD | 566.191,29 | 802.230,84 | 4,65% |
| ALPHABET INC. -C- | 480 | USD | 510.750,43 | 601.550,33 | 3,49% |
| AMAZON.COM INC | 450 | USD | 809.810,02 | 1.208.313,22 | 7,01% |
| APPLE INC. | 7.000 | USD | 403.571,59 | 691.314,54 | 4,01% |
| BOEING | 2.900 | USD | 425.155,97 | 408.693,13 | 2,37% |
| CISCO SYSTEMS INC. | 6.000 | USD | 255.373,35 | 201.543,51 | 1,17% |
| CITRIX SYSTEMS INC. | 1.575 | USD | 204.165,42 | 184.959,92 | 1,07% |
| CLEVELAND CLIFFS NAT RESOURCES INC. | 80.000 | USD | 465.510,62 | 437.982,35 | 2,54% |
| EXTREME NETWORKS INC. | 21.800 | USD | 153.594,49 | 74.733,30 | 0,43% |
| GENERAL ELECTRIC | 50.000 | USD | 295.866,17 | 265.637,66 | 1,54% |
| JOHNSON & JOHNSON CORP. | 1.600 | USD | 187.671,96 | 203.136,49 | 1,18% |
| MICRON TECHNOLOGY | 10.800 | USD | 440.060,09 | 432.497,34 | 2,51% |
| MICROSOFT CORP. | 5.200 | USD | 697.848,35 | 932.687,50 | 5,41% |
| NVIDIA CORP | 2.000 | USD | 407.378,48 | 923.071,68 | 5,35% |

Conviction Shares
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
| --- | --- | --- | --- | --- | --- |

| PETROBRAS -SPONSOREDADR - REPR. 4 SHARES | 12.000 | USD | 139.719,68 | 72.860,61 | 0,42% |
| --- | --- | --- | --- | --- | --- |
| Total DOLLAR DES ETATS-UNIS | 6.925.532,60 | 8.449.128,68 | 48,99% |
| Total Actions Cotées ou Négociées | 14.356.216,73 | 16.856.856,38 | 97,74% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé | 14.356.216,73 | 16.856.856,38 | 97,74% |
| Total du Portefeuille-Titres | 14.356.216,73 | 16.856.856,38 | 97,74% |

|  |
| --- |
| Short Term Crossover Bond |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Obligations |  |  |  |  |  |
| ACCOR 1,25 17-250124 | 200.000 | EUR | 189.500,00 | 197.293,00 | 3,66% |
| AMS A.G. 6,00 20-310725 | 200.000 | EUR | 204.500,00 | 211.686,00 | 3,93% |
| ARCELORMITTAL 2,25 19-170124 | 200.000 | EUR | 192.966,00 | 203.755,00 | 3,78% |
| AREVA S.A. 4,875 09-230924 | 200.000 | EUR | 214.800,00 | 222.568,00 | 4,13% |
| AZIMUT HLDG 2,00 17-280322 | 150.000 | EUR | 148.483,50 | 152.061,00 | 2,82% |
| EDF S.A. FRN 18-PERPETUAL | 200.000 | EUR | 203.900,00 | 209.492,00 | 3,89% |
| ENEL SpA FRN 18-241178 | 200.000 | EUR | 198.980,00 | 204.718,00 | 3,80% |
| ENERGIAS DE PORTUGAL FRN 20-200780 | 200.000 | EUR | 182.680,00 | 193.051,00 | 3,58% |
| FAURECIA 2,625 18-150625 | 200.000 | EUR | 186.000,00 | 197.633,00 | 3,67% |
| FERROVIAL NL B.V. FRN 17-PERPETUAL | 200.000 | EUR | 181.700,00 | 188.529,00 | 3,50% |
| FIAT CHRYSLER AUTO 3,75 16-290324 | 200.000 | EUR | 205.400,00 | 211.859,00 | 3,93% |
| FORD MOTOR CREDIT 3,021 19-060324 | 200.000 | EUR | 182.960,00 | 196.555,00 | 3,65% |
| GAZPROM P.J.S.C. 2,95 20-150425 | 200.000 | EUR | 203.420,00 | 208.837,00 | 3,87% |
| GENERAL MOTORS FINANCE 1,694 18-260325 | 200.000 | EUR | 175.000,00 | 201.555,00 | 3,74% |
| HARLEY-DAVIDSON 0,90 19-191124 | 200.000 | EUR | 177.018,00 | 198.823,00 | 3,69% |
| INEOS FINANCE PLC 2,125 17-151125 | 200.000 | EUR | 195.000,00 | 189.846,00 | 3,52% |
| LEONARDO SpA 4,875 05-240325 | 200.000 | EUR | 221.000,00 | 223.785,00 | 4,15% |
| NOKIA CORP. 2,375 20-150525 | 100.000 | EUR | 99.651,00 | 104.383,50 | 1,94% |
| PPF TELECOM 3,50 20-200524 | 200.000 | EUR | 209.000,00 | 206.088,00 | 3,82% |
| SOFTBK GROUP CORP3,125 17-190925 | 200.000 | EUR | 187.498,00 | 199.237,00 | 3,70% |
| TELECOM ITALIA SpA 3,625 16-190124 | 200.000 | EUR | 208.891,60 | 210.745,00 | 3,91% |
| TELEFONICA EUROPE FRN 19-PERPETUAL | 200.000 | EUR | 206.490,00 | 211.443,00 | 3,92% |
| TEVA PHARMACEUTICAL FINANCE NETHERLANDS B.V. 1,125 16- 151024 | 200.000 | EUR | 174.150,00 | 173.732,00 | 3,22% |
| TIKEHAU CAPITAL SCA 3,00 17-271123 | 200.000 | EUR | 200.988,00 | 205.133,00 | 3,80% |
| VALE OVERSEAS LTD 3,75 12-100123 | 200.000 | EUR | 202.880,00 | 210.528,00 | 3,90% |
| VOLKSWAGEN INTERNATIONAL FINANCE FRN 15-PERPETUAL | 150.000 | EUR | 145.410,00 | 150.216,75 | 2,79% |
| VOTORANTIM CIMENTOS 3,50 15-130722 | 200.000 | EUR | 207.500,00 | 205.823,00 | 3,82% |
| Total EURO |  |  | 5.105.766,10 | 5.289.375,25 | 98,10% |
| Total Obligations |  |  | 5.105.766,10 | 5.289.375,25 | 98,10% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 5.105.766,10 | 5.289.375,25 | 98,10% |
| Total du Portefeuille-Titres |  |  | 5.105.766,10 | 5.289.375,25 | 98,10% |

(Content)
| Global Fund | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| LUXEMBOURG | 36,82 % |
| ROYAUME-UNI | 12,61 % |
| ÉTATS-UNIS | 8,41 % |
| SUISSE | 7,67 % |
| FRANCE | 7,14 % |
| PAYS-BAS | 6,40 % |
| BELGIQUE | 3,67 % |
| ALLEMAGNE | 2,45 % |
| Total du Portefeuille-Titres | 85,17 % |

(Content)
| Tactical Fund | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| FRANCE | 34,88 % |
| ALLEMAGNE | 10,12 % |
| ITALIE | 9,15 % |
| PAYS-BAS | 6,26 % |
| ROYAUME-UNI | 5,46 % |
| GRÈCE | 4,80 % |
| SUISSE | 4,79 % |
| SUÈDE | 4,25 % |
| LUXEMBOURG | 3,05 % |
| PORTUGAL | 2,44 % |
| MAURICE | 1,29 % |
| POLOGNE | 1,26 % |
| BRÉSIL | 1,04 % |
| CHILI | 1,03 % |
| RÉPUBLIQUE TCHÈQUE | 0,95 % |
| ESPAGNE | 0,95 % |
| ARGENTINE | 0,85 % |
| AFRIQUE DU SUD | 0,49 % |
| CANADA | 0,31 % |
| IRLANDE | 0,21 % |
| CHYPRE | 0,01 % |
| Total du Portefeuille-Titres | 93,59 % |

(Content)
|  |  |
| --- | --- |
| Quintillia Fund | %  DE L ' ACTIF NET |
|  |
| LUXEMBOURG | 25,88 % |
| ÉTATS-UNIS | 23,04 % |
| PAYS-BAS | 9,84 % |
| FRANCE | 5,60 % |
| JAPON | 4,14 % |
| SUISSE | 3,24 % |
| BERMUDES | 1,14 % |
| NORVÈGE | 1,05 % |
| ILES CAYMAN | 0,90 % |
| BELGIQUE | 0,68 % |
| ALLEMAGNE | 0,26 % |
| Total du Portefeuille-Titres | 75,77 % |

(Content)
| Logiver Indiciel Dynamique | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| IRLANDE | 66,11 % |
| LUXEMBOURG | 13,72 % |
| ROYAUME-UNI | 12,12 % |
| Total du Portefeuille-Titres | 91,95 % |

(Content)
| PBT - Global Asset Allocation | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| LUXEMBOURG | 38,84 % |
| FRANCE | 11,68 % |
| ALLEMAGNE | 8,52 % |
| SUISSE | 7,04 % |
| IRLANDE | 6,98 % |
| ÉTATS-UNIS | 4,93 % |
| ROYAUME-UNI | 4,25 % |
| Total du Portefeuille-Titres | 82,24 % |

(Content)
| Conviction Shares | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| ÉTATS-UNIS | 43,92 % |
| FRANCE | 26,92 % |
| PAYS-BAS | 9,39 % |
| ILES CAYMAN | 8,24 % |
| ALLEMAGNE | 5,92 % |
| ROYAUME-UNI | 1,87 % |
| SUISSE | 1,06 % |
| BRÉSIL | 0,42 % |
| Total du Portefeuille-Titres | 97,74 % |

(Content)
|  |  |
| --- | --- |
| Short Term Crossover Bond | %  DE L ' ACTIF NET |
|  |
| PAYS-BAS | 21,17 % |
| FRANCE | 19,14 % |
| ITALIE | 14,68 % |
| ÉTATS-UNIS | 11,07 % |
| BRÉSIL | 7,72 % |
| AUTRICHE | 3,93 % |
| RUSSIE | 3,87 % |
| LUXEMBOURG | 3,78 % |
| JAPON | 3,70 % |
| PORTUGAL | 3,58 % |
| ROYAUME-UNI | 3,52 % |
| FINLANDE | 1,94 % |
| Total du Portefeuille-Titres | 98,10 % |

| Global Fund | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 36,83 % |
| PHARMACIE - COSMETIQUE | 20,76 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 13,96 % |
| BOISSONS & TABACS | 8,55 % |
| IT & INTERNET | 3,98 % |
| ETATS | 0,80 % |
| SERVICES FINANCIERS - HOLDINGS | 0,29 % |
| Total du Portefeuille-Titres | 85,17 % |

| Tactical Fund | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| BANQUES | 13,59 % |
| SERVICES FINANCIERS - HOLDINGS | 9,11 % |
| TELECOMMUNICATIONS | 7,89 % |
| MATERIAUX DE CONSTRUCTION | 6,89 % |
| AERONAUTIQUE & DEFENSE | 6,84 % |
| VEHICULES ROUTIERS | 5,06 % |
| PETROLE & DERIVES | 5,00 % |
| SOINS & SERVICE DE SANTE | 4,58 % |
| SOURCES D'ENERGIE | 3,82 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 3,25 % |
| COMPAGNIES D'ASSURANCE | 3,09 % |
| SERVICES COMMERCIAUX - PUBLICS | 3,01 % |
| TRANSPORTS AERIENS | 2,69 % |
| LOISIRS & TOURISME | 2,47 % |
| INFORMATIQUE - REPRODUCTION | 2,20 % |
| SERVICES DIVERS | 2,16 % |
| DIFFUSION & EDITION | 1,75 % |
| TRANSPORT & CIRCULATION | 1,42 % |
| DISTRIBUTION | 1,36 % |
| PHARMACIE - COSMETIQUE | 1,22 % |
| EQUIPEMENTS & SERVICES PROD. ENERGIE | 1,19 % |
| CONSTRUCTION MECANIQUE | 1,13 % |
| METAUX NON-FERREUX | 0,96 % |
| PRODUITS CHIMIQUES | 0,80 % |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 0,67 % |
| PRODUITS FORESTIERS & PAPIERS | 0,67 % |
| IT & INTERNET | 0,39 % |
| MATERIEL ELECTRIQUE - ELECTRONIQUE | 0,24 % |
| BIENS DE CONSOMMATION DIVERS | 0,11 % |
| ETATS | 0,02 % |
| DIVERS | 0,01 % |
| Total du Portefeuille-Titres | 93,59 % |

|  |  |
| --- | --- |
| Quintillia Fund | %  DE L ' ACTIF NET |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 23,75 % |
| ETATS | 14,42 % |
| PHARMACIE - COSMETIQUE | 10,63 % |
| BANQUES | 7,02 % |
| SERVICES FINANCIERS - HOLDINGS | 4,89 % |
| AGRICULTURE & PECHE | 4,22 % |
| MATERIAUX DE CONSTRUCTION | 4,08 % |
| ORGANISMES EUROPEENS | 1,88 % |
| IT & INTERNET | 1,38 % |
| COMPOSANTS & INSTRUMENTS ELECTRONIQUES | 1,06 % |
| SOURCES D'ENERGIE | 0,98 % |
| CONSTRUCTION MECANIQUE | 0,72 % |
| IMMOBILIER | 0,31 % |
| PRODUITS CHIMIQUES | 0,26 % |
| SOINS & SERVICE DE SANTE | 0,17 % |
| Total du Portefeuille-Titres | 75,77 % |

| Logiver Indiciel Dynamique | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 91,95 % |
| Total du Portefeuille-Titres | 91,95 % |

| PBT - Global Asset Allocation | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 49,68 % |
| BANQUES | 6,41 % |
| SERVICES FINANCIERS - HOLDINGS | 5,95 % |
| IT & INTERNET | 3,88 % |
| PHARMACIE - COSMETIQUE | 2,85 % |
| VEHICULES ROUTIERS | 2,84 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 2,69 % |
| COMPAGNIES D'ASSURANCE | 2,16 % |
| MATERIAUX DE CONSTRUCTION | 1,98 % |
| TEXTILE & HABILLEMENT | 1,64 % |
| PETROLE & DERIVES | 1,14 % |
| SERVICES DIVERS | 1,02 % |
| Total du Portefeuille-Titres | 82,24 % |

|  |  |
| --- | --- |
| Conviction Shares | %  DE L ' ACTIF NET |
|  |
| IT & INTERNET | 35,23 % |
| TELECOMMUNICATIONS | 10,12 % |
| SERVICES FINANCIERS - HOLDINGS | 8,88 % |
| COMPOSANTS & INSTRUMENTS ELECTRONIQUES | 6,07 % |
| AERONAUTIQUE & DEFENSE | 5,84 % |
| PETROLE & DERIVES | 5,61 % |
| SERVICES DIVERS | 4,19 % |
| CONSTRUCTION MECANIQUE | 3,61 % |
| MATERIEL ELECTRIQUE - ELECTRONIQUE | 2,66 % |
| PHARMACIE - COSMETIQUE | 2,66 % |
| METAUX NON-FERREUX | 2,54 % |
| TEXTILE & HABILLEMENT | 2,43 % |
| DISTRIBUTION | 2,39 % |
| MATERIAUX DE CONSTRUCTION | 1,91 % |
| INFORMATIQUE - REPRODUCTION | 1,60 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 1,06 % |
| PRODUITS CHIMIQUES | 0,94 % |
| Total du Portefeuille-Titres | 97,74 % |

| Short Term Crossover Bond | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| SERVICES FINANCIERS - HOLDINGS | 31,04 % |
| SOURCES D'ENERGIE | 15,39 % |
| VEHICULES ROUTIERS | 11,09 % |
| TELECOMMUNICATIONS | 9,77 % |
| PRODUCTIONS INDUSTRIELLES INTERMEDIAIRES | 7,68 % |
| AERONAUTIQUE & DEFENSE | 4,15 % |
| COMPOSANTS & INSTRUMENTS ELECTRONIQUES | 3,93 % |
| PETROLE & DERIVES | 3,87 % |
| MATERIAUX DE CONSTRUCTION | 3,82 % |
| IT & INTERNET | 3,70 % |
| LOISIRS & TOURISME | 3,66 % |
| Total du Portefeuille-Titres | 98,10 % |

| Global Fund | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 56,48 % |
| DOLLAR DES ETATS-UNIS | 12,02 % |
| LIVRE STERLING | 9,00 % |
| FRANC SUISSE | 7,67 % |
| Total du Portefeuille-Titres | 85,17 % |

| Tactical Fund | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 73,04 % |
| FRANC SUISSE | 4,79 % |
| DOLLAR DES ETATS-UNIS | 4,70 % |
| LIVRE STERLING | 4,29 % |
| COURONNE SUÉDOISE | 4,25 % |
| ZLOTY POLONAIS | 1,26 % |
| COURONNE TCHÈQUE | 0,95 % |
| DOLLAR CANADIEN | 0,31 % |
| Total du Portefeuille-Titres | 93,59 % |

| Quintillia Fund | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 38,74 % |
| DOLLAR DES ETATS-UNIS | 24,68 % |
| YEN JAPONAIS | 4,14 % |
| FRANC SUISSE | 3,24 % |
| DOLLAR DE HONG-KONG | 2,04 % |
| ROUPIE INDIENNE | 1,88 % |
| COURONNE NORVÉGIENNE | 1,05 % |
| Total du Portefeuille-Titres | 75,77 % |

| Logiver Indiciel Dynamique | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 73,07 % |
| LIVRE STERLING | 12,12 % |
| DOLLAR DES ETATS-UNIS | 6,76 % |
| Total du Portefeuille-Titres | 91,95 % |

|  |  |
| --- | --- |
| PBT - Global Asset Allocation | %  DE L ' ACTIF NET |
|  |
| EURO | 55,07 % |
| DOLLAR DES ETATS-UNIS | 14,59 % |
| FRANC SUISSE | 12,58 % |
| Total du Portefeuille-Titres | 82,24 % |

| Conviction Shares | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| DOLLAR DES ETATS-UNIS | 48,99 % |
| EURO | 44,10 % |
| DOLLAR DE HONG-KONG | 3,59 % |
| FRANC SUISSE | 1,06 % |
| Total du Portefeuille-Titres | 97,74 % |

| Short Term Crossover Bond | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 98,10 % |
| Total du Portefeuille-Titres | 98,10 % |

|  |
| --- |
| Global Fund |
|  |
| Actions en circulation au début de la période | - CAP | 31.058,772 39,086 9.643,733 |
| Actions émises au cours de la période | - CAP |
| Actions remboursées au cours de la période | - CAP |
| Actions en circulation à la fin de la période | - CAP | 21.454,125 |

Tactical Fund
| Actions en circulation au début de la période	- A | 70,709 |
| --- | --- |
| - B | 145.865,540 |
| Actions émises au cours de la période	- A | 0,000 |
| - B | 0,000 |
| Actions remboursées au cours de la période	- A | 0,000 |
| - B | 7.207,000 |
| Actions en circulation à la fin de la période	- A | 70,709 |
| - B | 138.658,540 |

Quintillia Fund
| Actions en circulation au début de la période	- A | 3.940,000 |
| --- | --- |
| - B | 12.355,158 |
| Actions émises au cours de la période	- A | 0,000 |
| - B | 0,000 |
| Actions remboursées au cours de la période	- A | 100,000 |
| - B | 627,158 |
| Actions en circulation à la fin de la période	- A | 3.840,000 |
| - B | 11.728,000 |

Logiver Indiciel Dynamique
| Actions en circulation au début de la période	- Instit 1-0,90 | 1.183,460 |
| --- | --- |
| - Retail 1-0,75 | 22.279,145 |
| - Retail 2-0,00 | 11.863,050 |
| - Retail 3-1,00 | 4.484,169 |
| - Retail 4-0,50 | 2.244,547 |
| Actions émises au cours de la période	- Instit 1-0,90 | 836,290 |
| - Retail 1-0,75 | 45,890 |
| - Retail 2-0,00 | 571,451 |
| - Retail 3-1,00 | 127,030 |
| - Retail 4-0,50 | 0,000 |
| Actions remboursées au cours de la période	- Instit 1-0,90 | 103,640 |
| - Retail 1-0,75 | 510,451 |
| - Retail 2-0,00 | 1.343,169 |
| - Retail 3-1,00 | 266,809 |
| - Retail 4-0,50 | 0,000 |
| Actions en circulation à la fin de la période	- Instit 1-0,90 | 1.916,110 |
| - Retail 1-0,75 | 21.814,584 |
| - Retail 2-0,00 | 11.091,332 |
| - Retail 3-1,00 | 4.344,390 |
| - Retail 4-0,50 | 2.244,547 |

PBT - Global Asset Allocation
| Actions en circulation au début de la période	- A CHF | 52.275,000 |
| --- | --- |
| - A EUR | 80.010,314 |
| Actions émises au cours de la période	- A CHF | 0,000 |
| - A EUR | 2.805,000 |
| Actions remboursées au cours de la période	- A CHF | 0,000 |
| - A EUR | 670,000 |
| Actions en circulation à la fin de la période	- A CHF | 52.275,000 |
| - A EUR | 82.145,314 |

| Conviction Shares |
| --- |
|  |
| Actions en circulation au début de la période | - A EUR | 104.198,000 73.619,000 11.969,000 |
| Actions émises au cours de la période | - A EUR |
| Actions remboursées au cours de la période | - A EUR |
| Actions en circulation à la fin de la période | - A EUR | 165.848,000 |

Short Term Crossover Bond
| Actions en circulation au début de la période	- A EUR | 0,000 |
| --- | --- |
| - BH CHF | 0,000 |
| Actions émises au cours de la période	- A EUR | 4.225,000 |
| - BH CHF | 1.025,000 |
| Actions remboursées au cours de la période	- A EUR | 0,000 |
| - BH CHF | 0,000 |
| Actions en circulation à la fin de la période	- A EUR | 4.225,000 |
| - BH CHF | 1.025,000 |

| Compartiment | Date d’Evaluation | Actif Net Total | Classe d'actions | Actions en Circulation | Valeur de l’Action | Devise |
| --- | --- | --- | --- | --- | --- | --- |

| Global Fund (EUR) | 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 36.688.169,66 26.383.466,21 27.252.922,45 21.347.018,55 | - CAP | 48.169,910 | 761,64 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - CAP | 32.857,958 | 802,96 | EUR |
| - CAP | 31.058,772 | 877,46 | EUR |
| - CAP | 21.454,125 | 995,01 | EUR |

| Tactical Fund (EUR) | 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 39.366.102,01 29.052.366,44 22.327.761,11 23.751.199,96 | - A | 13.002,917 | 207,08 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 165.072,000 | 222,17 | EUR |
| - A | 289,872 | 176,79 | EUR |
| - B | 151.912,540 | 190,91 | EUR |
| - A | 70,709 | 140,76 | EUR |
| - B | 145.865,540 | 153,00 | EUR |
| - A | 70,709 | 157,01 | EUR |
| - B | 138.658,540 | 171,21 | EUR |

| Quintillia Fund (EUR) | 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 5.995.952,41 5.123.687,80 5.127.772,29 5.009.118,62 | - A | 5.990,000 | 1.000,99 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - A | 3.970,000 | 1.053,18 | EUR |
| - B | 8.995,158 | 104,79 | EUR |
| - A | 3.940,000 | 991,58 | EUR |
| - B | 12.355,158 | 98,82 | EUR |
| - A | 3.840,000 | 999,89 | EUR |
| - B | 11.728,000 | 99,72 | EUR |

| Logiver Indiciel Dynamique (EUR) | 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 55.669.249,94 73.451.818,59 62.698.240,39 76.064.406,08 | - Retail 1-0,75 | 19.698,791 | 1.430,04 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - Retail 2-0,00 | 12.629,064 | 1.455,54 | EUR |
| - Retail 3-1,00 | 3.907,064 | 1.509,36 | EUR |
| - Retail 4-0,50 | 2.164,699 | 1.487,45 | EUR |
| - Instit 1-0,90 | 898,120 | 10.204,60 | EUR |
| - Retail 1-0,75 | 22.890,675 | 1.456,78 | EUR |
| - Retail 2-0,00 | 12.708,777 | 1.493,94 | EUR |
| - Retail 3-1,00 | 4.809,336 | 1.533,73 | EUR |
| - Retail 4-0,50 | 3.013,687 | 1.519,03 | EUR |
| - Instit 1-0,90 | 1.183,460 | 8.798,98 | EUR |
| - Retail 1-0,75 | 22.279,145 | 1.257,09 | EUR |
| - Retail 2-0,00 | 11.863,050 | 1.298,88 | EUR |
| - Retail 3-1,00 | 4.484,169 | 1.320,18 | EUR |
| - Retail 4-0,50 | 2.244,547 | 1.314,13 | EUR |
| - Instit 1-0,90 | 1.916,110 | 9.922,15 | EUR |
| - Retail 1-0,75 | 21.814,584 | 1.418,38 | EUR |
| - Retail 2-0,00 | 11.091,332 | 1.471,04 | EUR |
| - Retail 3-1,00 | 4.344,390 | 1.487,70 | EUR |
| - Retail 4-0,50 | 2.244,547 | 1.484,59 | EUR |

| Compartiment | Date d’Evaluation | Actif Net Total | Classe d'actions | Actions en Circulation | Valeur de l’Action | Devise |
| --- | --- | --- | --- | --- | --- | --- |

| PBT - Global Asset Allocation (EUR) | 31.10.2017 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 10.188.032,20 12.483.080,80 11.918.712,16 11.172.885,60 12.284.211,13 | - A CHF | 46.280,000 | 86,12 | CHF |
| --- | --- | --- | --- | --- | --- | --- |
| - A EUR | 62.025,000 | 100,00 | EUR |
| - A CHF | 47.375,000 | 95,77 | CHF |
| - A EUR | 89.902,859 | 96,00 | EUR |
| - A CHF | 49.625,000 | 95,21 | CHF |
| - A EUR | 80.411,852 | 95,68 | EUR |
| - A CHF | 52.275,000 | 85,96 | CHF |
| - A EUR | 80.010,314 | 86,74 | EUR |
| - A CHF | 52.275,000 | 93,45 | CHF |
| - A EUR | 82.145,314 | 94,39 | EUR |

| Conviction Shares (EUR) | 05.03.2018 31.03.2018 31.03.2019 31.03.2020 30.09.2020 | 1.414.000,00 5.155.869,60 11.100.377,23 8.852.292,12 17.247.156,45 | - A EUR | 14.140,000 | 100,00 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - A EUR | 53.445,000 | 96,47 | EUR |
| - A EUR | 121.471,000 | 91,38 | EUR |
| - A EUR | 104.198,000 | 84,96 | EUR |
| - A EUR | 165.848,000 | 103,99 | EUR |

| Short Term Crossover Bond (EUR) | 27.04.2020 30.09.2020 | 4.174.574,41 5.391.611,44 | - A EUR | 4.175,000 | 999,90 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - A EUR | 4.225,000 | 1.040,68 | EUR |
| - BH CHF | 1.025,000 | 1.045,54 | CHF |

| NOTE 1 - PRINCIPES ET MÉTHODES COMPTABLES |
| --- |
| Les états financiers de la SICAV ont été préparés sur base de continuité d'exploitation et conformément aux normes et principes comptables communément acceptés au Luxembourg sur la base des valeurs nettes d'inventaire officielles calculées à la clôture de l'exercice. |
| a) Evaluation du portefeuille-titres et des instruments dérivés |
| Les titres cotés à une bourse officielle sont évalués sur la base du dernier cours de clôture connu au 30 septembre 2020 et, s’il y a plusieurs marchés, au cours du marché principal du titre en question. Les titres et produits dérivés cotés sur d’autres marchés réglementés sont évalués sur la base du cours de clôture et, s’il y a plusieurs marchés, au cours du marché principal du titre en question. Les titres non cotés en bourse ou dont le cours n’est pas représentatif sont évalués à leur dernière valeur marchande connue ou, en l’absence de valeur marchande, à la valeur marchande probable de réalisation selon les critères d’évaluation jugés prudents par le Conseil d’Administration. Les parts des organismes de placement collectif sont évaluées à la dernière valeur nette disponible. Les produits dérivés (futures) cotés à une bourse officielle sont évalués sur la base du dernier cours de clôture disponible au 30 septembre 2020 et, s'il y a plusieurs marchés, sur base du dernier cours de clôture du marché principal du titre en question. Si le dernier cours de clôture connu au jour d'évaluation donné n'est pas représentatif, l'évaluation se basera sur la valeur probable de réalisation estimée avec prudence et bonne foi. Les contrats de change sont évalués sur base des taux "forward" de clôture. |
| b) Plus ou moins-values nettes réalisées sur investissements |
| Les plus ou moins-values nettes réalisées sur ventes de titres sont calculées sur base du coût moyen des titres vendus. Le montant des plus ou moins-values nettes réalisées imputable à la variation des cours de change est enregistré dans le compte de "Plus ou moins-value nette réalisée sur devises" lors de l’opération de vente. |
| c) Conversion des devises étrangères |
| Les avoirs en banque, les autres actifs nets ainsi que la valeur boursière des titres en portefeuille en autres devises que la devise du compartiment concerné sont convertis en la devise du compartiment au taux de change en vigueur à Luxembourg à la date de la clôture. Les revenus et frais en devises autres que la devise du compartiment sont convertis dans la devise du compartiment aux cours de change en vigueur à la date du paiement. |
| d) Coût d'acquisition des titres en portefeuille |
| Pour les titres libellés en devises autres que la devise la SICAV, le coût d'acquisition est calculé sur base du cours de change en vigueur au jour de l'achat. |

- Variation des plus ou moins-values nettes non réaliséesLa variation des plus ou moins-values nettes non réalisées à la fin de l’exercice figure également dans les résultats des opérations.
- Variation du portefeuille-titresLe tableau des variations du portefeuille-titres des compartiments est disponible sans frais au siège social de la SICAV.
- Revenus, dépenses et provisions y relativesLes intérêts sont comptabilisés chaque jour et les dividendes sont enregistrés à l’ "ex-date". Les intérêts et revenus sont comptabilisés nets des précomptes mobiliers non recouvrables.

Lorsque la SICAV fait face à des frais concernant un compartiment en particulier, ces derniers sont alloués à ce compartiment. Les dépenses non attribuables à un compartiment en particulier sont réparties entre les différents compartiments au prorata de la valeur nette d’inventaire de chaque compartiment.
- Etats financiers combinésLes actifs nets des différents compartiments de la SICAV sont exprimés dans leur devise de référence. Les états financiers combinés de la SICAV sont établis en EUR et sont égaux à la somme des rubriques correspondantes dans les états financiers de chaque compartiment, converties dans cette devise aux cours de change en vigueur à la date des états financiers (Note 2).
- Différence de changeLa différence de change au niveau de l'actif net total de la SICAV est due aux variations des cours de change des devises dans lesquelles sont libellés l'actif net des différents compartiments et ce, entre le 31 mars 2020 et le 30 septembre 2020.


## NOTE 2 - TAUX DE CHANGE
| 1  EUR	= | 1,07735 | CHF |
| --- | --- | --- |

NOTE 3 - TAXES ET FRAIS À PAYER
| Commission de performance | 222,08 | EUR |
| --- | --- | --- |
| Commission de gestion | 333.622,96 | EUR |
| Commission de banque dépositaire | 53.932,62 | EUR |
| Taxe d'abonnement | 15.233,48 | EUR |
| Frais et commissions divers | 19.055,46 | EUR |
| Total | 422.066,60 | EUR |

| NOTE 4 - COMMISSION DE GESTION, DE CONSEIL ET DE DISTRIBUTION |
| --- |
| Pour le compartiment Global Fund: La Société paie à la charge du compartiment, à la Société de Gestion une rémunération consistant en une commission de gestion au taux annuel de 0,075% p.a avec un minimum annuel de 7.500 EUR complétée par une commission de gestion aux taux annuel de 1,175%. La Société de Gestion paie, à la charge du compartiment, à Mune Dos Pte. Ltd., conseiller en investissements, une rémunération consistant en une commission annuelle fixée à 1,25% maximum par an. Ces commissions sont payables trimestriellement et calculées sur la valeur nette moyenne des actions du compartiment. Pour le compartiment Tactical Fund: La Société paie à la Société de Gestion une rémunération consistant en une commission de gestion au taux annuel de 0,075% p.a. avec un minimum annuel de 7.500 EUR (applicable à la classe A et à la classe B), complétée par une commission de gestion aux taux annuel de 1,925% pour la classe A et de 1,225% pour la classe B. La commission est payable trimestriellement et est calculée sur la valeur nette moyenne des actions de chaque classe du compartiment. Cette commission de gestion peut être utilisée pour rémunérer des prestations de distribution ou de promotion. La Société de Gestion a nommé à sa propre charge LESBROUSSARTS SERVICES en qualité de conseiller en investissement pour ce compartiment. |
| Pour Le compartiment Quintillia Fund: La Société paie à la Société de Gestion une rémunération consistant en une commission de gestion au taux annuel de 0,10% p.a avec un minimum annuel de 10.000 EUR (applicable à la classe A et à la classe B), complétée par une commission de gestion aux taux annuel de 1,00% pour la classe A, et 0,85% pour la classe B. La Société de Gestion paie au conseiller en investissements, IBEB S.A., une rémunération consistant en une commission annuelle fixée à : - 1% maximum pour la classe A;
- 0,85% maximum pour la classe B.
 Ces commissions sont payables trimestriellement et calculées sur la valeur nette moyenne des actions du compartiment. Pour le compartiment Logiver Indiciel Dynamique: La SICAV paie, à la charge du compartiment, à la Société de Gestion une rémunération prélevée sur les actifs du compartiment et consistant en une commission annuelle au taux unique de 0,10% (avec un minimum annuel de 15.000 EUR) payable au terme de chaque trimestre, et appliqué sur les actifs nets moyens du compartiment au cours du trimestre échu. La Société de Gestion paie, à la charge du compartiment, au gestionnaire en investissements, LOGIVER S.A., une rémunération prélevée sur les actifs du compartiment et consistant en une commission annuelle au taux unique de : - 0,75% pour la classe Retail 1 - 0,75;
- 0,90% pour la classe Instit 1 - 0,90;
- 0,00% pour la classe Retail 2 - 0,00;
- 0,50% pour la classe Instit 2 - 0,50;
- 1,00% pour la classe Retail 3 - 1,00;
- 0,50% pour la classe Retail 4 - 0,50;
 |

| - 1,00% pour la classe Retail 5 - 1,00. payable mensuellement, et appliqué sur les actifs nets moyens du compartiment au cours du mois échu. LOGIVER S.A. a nommé à sa propre charge ARCHE WEALTH MANAGEMENT en qualité de conseiller en investissement pour ce compartiment. |
| --- |
| Pour le compartiment PBT - Global Asset Allocation: La SICAV paie, à la charge du compartiment, à la Société de Gestion une rémunération prélevée sur les actifs du compartiment et consistant en une commission annuelle au taux unique de 0,10% (avec un minimum annuel de 15.000 EUR) payable au terme de chaque trimestre, et appliqué sur les actifs nets moyens du compartiment au cours du trimestre échu. La Société de Gestion paie au Gestionnaire en Investissements, BCB & PARTNERS S.A., à la charge du compartiment, une rémunération consistant en une commission de gestion au taux annuel maximal de 1,30% pour les classes A-EUR et A-CHF. La commission de gestion est payable trimestriellement et est calculée sur la valeur nette moyenne des actions du compartiment. Cette commission de gestion peut être utilisée pour rémunérer des prestations de distribution ou de promotion. Aucune commission additionnelle ne sera payée au titre de la couverture du risque de change appliquée à la classe A-CHF. Le Gestionnaire bénéficie de l’assistance de deux Conseillers en Investissements : - THRIVING FINANCE et
- PRIVASWISS MANAGEMENT S.A.
 BCB & PARTNERS S.A. a nommé à sa propre charge THRIVING FINANCE et PRIVASWISS MANAGEMENT S.A. en qualité de Conseillers en Investissements pour ce compartiment. Pour le compartiment Conviction Shares: La SICAV paie, à la charge du compartiment, à la Société de Gestion une rémunération prélevée sur les actifs du compartiment et consistant en une commission annuelle au taux unique de 0,10% (avec un minimum annuel de 15.000 EUR) payable au terme de chaque trimestre, et appliqué sur les actifs nets moyens du compartiment au cours du trimestre échu. La Société de Gestion paie au gestionnaire en investissements, PRIVALUX MANAGEMENT S.A., à la charge du compartiment, une rémunération consistant en une commission de gestion au taux annuel maximal de 1,25%. La commission de gestion est payable trimestriellement et est calculée sur la valeur nette moyenne des actions du compartiment. Cette commission de gestion peut être utilisée pour rémunérer des prestations de distribution ou de promotion. Pour le compartiment Short Term Crossover Bond La Société paie à la Société de Gestion une rémunération consistant en une commission de gestion au taux annuel de 0,20% p.a avec un minimum annuel d’EURO 15.000,- complétée par une commission de gestion aux taux annuel de: - 0,50% pour chacune des classes A, AH-CHF, AH-USD.
- 0,30% pour chacune des classes B, BH-CHF, BH-USD.
 La Société de Gestion est par ailleurs en charge de la gestion de la politique de couverture qui s’appliquera aux classes du compartiment libellées en USD et en CHF. A cet effet une convention de couverture contre le risque de change a été conclue entre la Société de Gestion et la Société pour une durée indéterminée. Aux termes de cette convention et en rémunération de ces prestations, la Société de Gestion perçoit de la Société, à la charge des classes AH-CHF, AH-USD, BH-CHF et BH-USD du compartiment, une commission mensuelle de 0,01% par mois, et calculée sur la valeur de l’actif net moyen au cours du mois sous revue de ces Classes. Cette commission est payable trimestriellement. |

| Ces commissions sont payables trimestriellement et calculées sur la valeur nette moyenne des actions de chaque classe du compartiment. Cette commission de gestion peut être utilisée pour rémunérer des prestations de distribution ou de promotion. La Société de Gestion a nommé à sa propre charge HERAVEST SA en qualité de conseiller en investissement pour ce Compartiment. |
| --- |
| NOTE 5 - COMMISSIONS DE PERFORMANCE |
| Pour le compartiment Quintillia Fund: La Société de Gestion versera au Conseiller en Investissements, à charge du compartiment, au terme de chaque trimestre, une commission de performance équivalente à 10% de la surperformance du compartiment par rapport à l’indice de référence EURIBOR 1 Semaine (ci-après «l’indice de référence»), et par rapport à la VNI de référence. La VNI de référence correspond à la VNI la plus haute jamais atteinte par le compartiment après déduction de la commission de performance. Avec le principe du High Water Mark, la VNI de référence sera conservée, le cas échéant, jusqu'à établissement d'une nouvelle VNI de référence. Le montant de la commission de performance sera provisionné lors de chaque calcul de la VNI, sur la base des actions en circulation à cette date. En cas de rachats, la commission de performance provisionnée sera considérée comme acquise et sera payée au Conseiller en investissements. La 1ère VNI de référence de la classe A correspond au Jour d’Evaluation du 30 juin 2014. La 1ère VNI de référence de la classe B est établi à EUR 100. Au 30 septembre 2020, aucun montant de commission de performance payé n'est comptabilisé. |
| Pour le compartiment PBT - Global Asset Allocation: Il sera versé au Gestionnaire par la Société de Gestion mais à charge du compartiment, une commission de surperformance équivalente à 10% qui s'appliquera sur la variation de la VNI d’une classe d’action donnée comparée au rendement de l'Euribor 3 Mois + 200pb (le "Hurdle"). Ce calcul sera effectué avec "high water mark", c’est-à-dire que la commission de performance ne sera due que lorsque la VNI d’une classe d’action donnée dépasse son plus haut niveau enregistré par le passé. La commission de performance est calculée sur les gains nets de frais. Dès lors que la performance depuis le début de l’exercice est positive et dépasse son Hurdle sur une base annuelle (correspondant à une année calendaire), une provision de 10% de cette surperformance sera provisionnée à l’occasion du calcul de la VNI. Dans l’hypothèse où la VNI d’une classe d’action donnée serait amenée à repasser sous le niveau du «high water mark», une reprise hebdomadaire de provision sera effectuée à hauteur de 10% de cette sous-performance à concurrence des dotations constituées depuis le début de l’année. En cas de rachat, la quote-part de la provision de la commission de surperformance correspondant aux actions rachetées sera considérée comme acquise au Gestionnaire selon le principe de «cristallisation». La totalité de la commission de performance sera payée au Gestionnaire après le 31 décembre de chaque année. L’auditeur de la Société vérifiera les calculs de toute commission de performance accumulée ou versée dans le cadre de son audit annuel. Au 30 septembre 2020, aucun montant de commission de performance payé n'est comptabilisé. |

| Pour le compartiment Conviction Shares: Il sera également versé au Gestionnaire par la Société de Gestion mais à charge du compartiment, une commission de surperformance (la « Commission de Performance ») équivalente à 10% qui s'appliquera sur la variation de la VNI d’une classe d’action donnée comparée à la performance de l’indice MSCI World Equity EUR (le « Benchmark », ticker : MSERWI Index). Ce calcul sera effectué avec « high water mark », c’est-à-dire que la commission de performance ne sera due que lorsque la VNI d’une classe d’action donnée dépasse son plus haut niveau enregistré par le passé. La commission de performance est calculée sur les gains nets de frais. Dès lors que la performance depuis le début de l’exercice est positive et dépasse son Benchmark sur une base annuelle (correspondant à une année calendaire), une provision de 100% de cette surperformance sera provisionnée à l’occasion du calcul de la VNI. Dans l’hypothèse où la VNI d’une classe d’action donnée serait amenée à repasser sous le niveau du «high water mark», une reprise hebdomadaire de provision sera effectuée à hauteur de 100% de cette sous-performance à concurrence des dotations constituées depuis le début de l’année. En cas de rachat, la quote-part de la provision de la commission de surperformance correspondant aux actions rachetées sera considérée comme acquise au Gestionnaire selon le principe de «cristallisation». La totalité de la commission de performance sera payée au Gestionnaire après le 31 décembre de chaque année. L’auditeur de la Société vérifiera les calculs de toute commission de performance accumulée ou versée dans le cadre de son audit annuel. Au 30 septembre 2020, aucun montant de commission de performance payé n'est comptabilisé. |
| --- |
| NOTE 6 - TAXE D'ABONNEMENT |
| La SICAV est régie par les lois fiscales luxembourgeoises. En vertu de la législation et des règlements en vigueur actuellement, la SICAV est soumise à Luxembourg à la taxe d'abonnement au taux annuel de 0,05%, payable trimestriellement et calculée sur l'actif net de la SICAV à chaque fin de trimestre. Cette taxe est réduite à 0,01% par an des actifs nets attribuables aux classes d’actions destinées aux investisseurs institutionnels. La taxe d’abonnement n’est pas due sur les quotités d’actifs investis en OPC déjà soumis à l’application de cette taxe. En outre, la SICAV étant enregistrée en Belgique, elle est de plus soumise à une taxe au taux annuel de 0,0925% calculée pour l’année 2020 sur base de la valeur des actions distribuées en Belgique telle qu’établie au 31 décembre 2019. |
| NOTE 7 - FUTURES |
| Les contrats futures sont évalués par le broker chaque jour ouvrable bancaire. Les gains/(pertes) non- réalisés résultant des contrats futures ouverts à la date de clôture sont enregistrés directement dans les avoirs en banque. Toute variation de l'appel de marge qui ne serait pas encore transférée en avoirs en banque à la date de clôture est reflétée dans le compte "Montants à recevoir du/(payer au) broker sur futures". |

Au 30 septembre 2020, les opérations à terme suivantes sont ouvertes auprès de la contrepartie Banque Degroof Petercam Luxembourg S.A..
Global Fund :
| Devise | Nombre de CONTRATS | Description | + / - Value Non Realisee ( EN  EUR) | Engagement ( EN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | -400 | EURO STOXX 50 FUTURE DECEMBRE 2020 | 538.000,00 | 12.588.000,00 |
| Total | 538.000,00 | 12.588.000,00 |

Logiver Indiciel Dynamique :
| Devise | Nombre de contrats | Description | + / - Value Non Realisee ( EN  EUR) | Engagement ( EN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| USD | -30 | SP 500 EMINI FUTURE DECEMBRE 2020 | 34.920,91 | 4.287.724,54 |
| Total | 34.920,91 | 4.287.724,54 |

Au titre de ces contrats futures, le Fonds est tenu de maintenir un dépôt de garantie de EUR 2.469.696,67 (Global Fund EUR 2.132.000,00 et Logiver Indiciel Dynamique EUR 337.696,67).

## NOTE 8 - CHANGES À TERME
Au 30 septembre 2020, les changes à terme suivants sont ouverts auprès de la contrepartie Banque Degroof Petercam Luxembourg S.A. :
Logiver Indiciel Dynamique :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  EUR) | Engagement (en EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 30/11/2020 | EUR | 11.000.000,00 | USD | 13.031.150,00 | -97.133,11 | 11.112.565,97 |
| Total | -97.133,11 | 11.112.565,97 |

PBT - Global Asset Allocation :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  EUR) | Engagement (en EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 17/12/2020 | EUR | 1.302.870,97 | CHF | 1.400.000,00 | 3.833,98 | 1.299.484,90 |
| 16/12/2020 | CHF | 4.950.000,00 | EUR | 4.607.222,64 | -14.642,39 | 4.594.607,33 |
| 17/12/2020 | EUR | 1.436.757,32 | USD | 1.700.000,00 | -16.782,10 | 1.449.707,98 |
|  |  |  |  | Total | -27.590,51 | 7.343.800,21 |

Conviction Shares :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  EUR) | Engagement (en EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 18/12/2020 | USD | 2.000.000,00 | EUR | 1.770.538,24 | -68.305,89 | 1.705.538,80 |
| 18/12/2020 | USD | 4.500.000,00 | EUR | 3.829.917,61 | 392,37 | 3.837.462,30 |
| 18/12/2020 | EUR | 1.830.998,81 | USD | 2.000.000,00 | 128.489,67 | 1.705.538,80 |
| 18/12/2020 | EUR | 7.354.213,53 | USD | 8.500.000,00 | 118.549,70 | 7.248.539,90 |
| 18/12/2020 | EUR | 639.063,60 | USD | 760.000,00 | -7.889,87 | 648.104,74 |
|  |  |  |  | Total | 171.235,98 | 15.145.184,54 |

Short Term Crossover Bond :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  EUR) | Engagement (en EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 15/10/2020 | CHF | 1.079.298,00 | EUR | 1.003.904,75 | -2.004,57 | 1.001.808,18 |
| Total | -2.004,57 | 1.001.808,18 |


## NOTE 9 - PRÊTS DE TITRES
Il n'y a plus de titre en prêt au 30 septembre 2020.
La SICAV peut prêter les titres inclus dans son portefeuille à un emprunteur par l’intermédiaire d’un système standardisé de prêt organisé par un organisme reconnu de compensation de titres ou par une institution financière soumise à une surveillance prudentielle considérée par la CSSF comme équivalente à celle prévue par la législation communautaire et spécialisée dans ce type d’opérations.
Il n'y a aucun revenu pour cette période.

## NOTE 10 - EVÈNEMENT SURVENU PENDANT LA PÉRIODE
La pandémie de COVID-19 (coronavirus), qui menace gravement la santé de la population mondiale et perturbe fortement la vie des gens au quotidien depuis plusieurs mois, a une incidence majeure sur l'économie mondiale. Tous les secteurs de l'économie sont touchés et certains sont frappés plus durement. Cela devrait avoir un impact négatif sur la valorisation des actions, obligations, fonds et autres investissements au cours de l'exercice 2020. Les mesures prises par les autorités sanitaires pour contenir la propagation du virus, bien que nécessaires, auront-elles aussi des répercussions considérables sur l'activité économique. Cependant, il faut souligner que même si ces effets sont importants, ils seront temporaires. Partout dans le monde, les autorités ont pris des mesures énergiques et indispensables pour contenir la diffusion du virus, et pour soutenir les particuliers et les entreprises en ces temps très difficiles. Le conseil d'administration n'est actuellement pas en mesure d'estimer avec précision les conséquences de cet événement, mais suit de près la situation.
| Détermination du risque global |
| --- |
| Chaque compartiment devra veiller à ce que son risque global lié aux instruments financiers dérivés n’excède pas la valeur nette totale de son portefeuille. Le risque global est une mesure conçue pour limiter l’effet de levier généré au niveau de chaque compartiment par l’utilisation d’instruments financiers dérivés. La méthode utilisée pour calculer ce risque au niveau de chaque compartiment de la SICAV sera celle des engagements. Cette méthode consiste à convertir les positions sur instruments financiers dérivés en positions équivalentes sur les actifs sous-jacents puis à agréger la valeur de marché de ces positions équivalentes. |
| Règlement EU 2015/2365 du Parlement Européen et du conseil du 25 novembre 2015 : transparence des opérations de financement sur titres et de la réutilisation (ci-après le Règlement) Conformément à l’article 13 et à la Section A de l’Annexe du Règlement EU 2015/2365 (ci-après le «Règlement»), la SICAV doit informer les investisseurs de l’utilisation qu’elle fait des opérations de financement sur titres et des contrats d’échange sur rendement global dans le rapport annuel et le rapport semestriel. Le portefeuille ne contient pas d'avoirs prêtés à la date du présent rapport. |