# from 1 January 2023 to the 30 June 2023
|  |  |  |
| --- | --- | --- |
|  | Notes | Combined (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 665,110.74 |
| Interest on cash accounts |  | 3,728.71 |
| Tax claim |  | 396.59 |
| Total Income |  | 669,236.04 |
| Expenses |  |  |
| Management Fee | 4 | 435,204.11 |
| Hedging fee | 8 | 651.99 |
| Depositary fees | 5 | 18,617.60 |
| Subscription tax | 7 | 23,635.11 |
| Administration fees | 9 | 118,636.94 |
| Miscellaneous fees |  | 90,718.97 |
| Transaction fees |  | 69,677.15 |
| Overdraft interest |  | 607.02 |
| Taxes paid to foreign authorities |  | 12,050.59 |
| Total Expenses |  | 769,799.48 |
| Net Profit / (Loss) |  | -100,563.44 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 563,880.90 |
| - on currencies |  | 4,287.80 |
| - on forward exchange contracts |  | 40,993.96 |
| Total Net Realised Profit / (Loss) |  | 508,599.22 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 3,146,360.49 |
| - on currencies |  | 2,285.49 |
| - on forward exchange contracts |  | -1,620.14 |
| Result of operations |  | 3,655,625.06 |
| - Subscriptions |  | 5,747,743.49 |
| - Redemptions |  | -16,272,465.43 |
| Net changes in Net Assets |  | -6,869,096.89 |
| Net assets at the beginning of the period |  | 75,596,202.50 |
| Currency difference of the net assets of the 31.12.22 to the 30.06.23 | 1j | 2,245,960.51 |
| Net assets at the end of the period |  | 70,973,066.13 |

|  |
| --- |
| EUROPE SELECTION |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 17,636,104.09 |
| Cash at banks |  | 411,972.56 |
| Interest receivable on cash account |  | 546.41 |
| Dividends receivable on shares |  | 5,349.01 |
| Amounts receivable on subscriptions |  | 0.00 |
| Amounts receivable on investment sold |  | 0.00 |
| Unrealised gain on forward exchange contracts | 10 | 0.00 |
| Total Assets |  | 18,053,972.07 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 75,561.78 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 0.00 |
| Amounts payable on redemptions |  | 0.00 |
| Amounts payable on purchases of investments |  | 0.00 |
| Unrealised Loss on Forward Exchange Contracts | 10 | 0.00 |
| Total Liabilities |  | 75,561.78 |
| Net assets at the end of the period |  | 17,978,410.29 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - EUR |  | 4,215.161 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - EUR |  | 4,265.18 |

|  |
| --- |
| GOLD |
|  |
|  | Notes | Value (in USD) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 13,185,625.57 |
| Cash at banks |  | 208,531.82 |
| Interest receivable on cash account |  | 14.11 |
| Dividends receivable on shares |  | 2,036.21 |
| Amounts receivable on subscriptions |  | 0.00 |
| Amounts receivable on investment sold |  | 0.00 |
| Unrealised gain on forward exchange contracts | 10 | 0.00 |
| Total Assets |  | 13,396,207.71 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 71,427.36 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 4.31 |
| Amounts payable on redemptions |  | 0.00 |
| Amounts payable on purchases of investments |  | 0.00 |
| Unrealised Loss on Forward Exchange Contracts | 10 | 5,747.04 |
| Total Liabilities |  | 77,178.71 |
| Net assets at the end of the period |  | 13,319,029.00 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - EUR |  | 87,377.157 |
| - USD |  | 213,702.519 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - EUR |  | 34.13 |
| - USD |  | 47.10 |

|  |
| --- |
| ODDO BHF Future of Food |
|  |
|  | Notes | Value (in USD) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 42,147,946.90 |
| Cash at banks |  | 2,161,887.24 |
| Interest receivable on cash account |  | 0.10 |
| Dividends receivable on shares |  | 59,635.75 |
| Amounts receivable on subscriptions |  | 3,090.19 |
| Amounts receivable on investment sold |  | 729,572.02 |
| Unrealised gain on forward exchange contracts | 10 | 10,595.11 |
| Total Assets |  | 45,112,727.31 |
| Liabilities |  |  |
| Taxes and Expenses payable | 3 | 109,487.35 |
| Overdraft at banks |  | 1.10 |
| Overdraft interest |  | 0.00 |
| Amounts payable on redemptions |  | 0.04 |
| Amounts payable on purchases of investments |  | 505,098.30 |
| Unrealised Loss on Forward Exchange Contracts | 10 | 0.00 |
| Total Liabilities |  | 614,586.79 |
| Net assets at the end of the period |  | 44,498,140.52 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - Clw CHF (anc. B CHF) |  | 97,602.002 |
| - Clw USD (anc. B USD) |  | 5,968.000 |
| - CNw EUR H (anc. CH) |  | 13,308.644 |
| - CRw CHF (anc. A CHF) |  | 31,505.780 |
| - CRw EUR (anc. A EUR) |  | 11,688.416 |
| - S46060 CHF |  | 61,093.000 |
| - S46060 EUR |  | 107,668.715 |
| - S46060 USD |  | 121,558.667 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - Clw CHF (anc. B CHF) |  | 82.30 |
| - Clw USD (anc. B USD) |  | 82.58 |
| - CNw EUR H (anc. CH) |  | 84.40 |
| - CRw CHF (anc. A CHF) |  | 88.39 |
| - CRw EUR (anc. A EUR) |  | 97.74 |
| - S46060 CHF |  | 91.39 |
| - S46060 EUR |  | 100.17 |
| - S46060 USD |  | 96.78 |

|  |
| --- |
| EUROPE SELECTION |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 133,119.50 |
| Interest on cash accounts |  | 3,010.83 |
| Tax claim |  | 396.59 |
| Total Income |  | 136,526.92 |
| Expenses |  |  |
| Management Fee | 4 | 150,258.83 |
| Hedging fee | 8 | 0.00 |
| Depositary fees | 5 | 5,093.59 |
| Subscription tax | 7 | 7,694.81 |
| Administration fees | 9 | 29,335.89 |
| Miscellaneous fees |  | 20,674.79 |
| Transaction fees |  | 29,787.32 |
| Overdraft interest |  | 0.74 |
| Taxes paid to foreign authorities |  | 2,776.69 |
| Total Expenses |  | 245,622.66 |
| Net Profit / (Loss) |  | -109,095.74 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 1,556,868.71 |
| - on currencies |  | -7,844.34 |
| - on forward exchange contracts |  | 0.00 |
| Total Net Realised Profit / (Loss) |  | 1,439,928.63 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 1,978,643.64 |
| - on currencies |  | 0.00 |
| - on forward exchange contracts |  | 0.00 |
| Result of operations |  | 3,418,572.27 |
| - Subscriptions |  | 201,851.02 |
| - Redemptions |  | -3,420,341.75 |
| Net changes in Net Assets |  | 200,081.54 |
| Net assets at the beginning of the period |  | 17,778,328.75 |
| Net assets at the end of the period |  | 17,978,410.29 |

|  |
| --- |
| GOLD |
|  |
|  | Notes | Value (in USD) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 136,032.58 |
| Interest on cash accounts |  | 691.79 |
| Tax claim |  | 0.00 |
| Total Income |  | 136,724.37 |
| Expenses |  |  |
| Management Fee | 4 | 119,637.11 |
| Hedging fee | 8 | 0.00 |
| Depositary fees | 5 | 5,559.86 |
| Subscription tax | 7 | 5,230.60 |
| Administration fees | 9 | 37,477.06 |
| Miscellaneous fees |  | 19,948.99 |
| Transaction fees |  | 19,023.78 |
| Overdraft interest |  | 544.28 |
| Taxes paid to foreign authorities |  | 3,225.59 |
| Total Expenses |  | 210,647.27 |
| Net Profit / (Loss) |  | -73,922.90 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 1,134,065.41 |
| - on currencies |  | 3,701.65 |
| - on forward exchange contracts |  | 48,345.03 |
| Total Net Realised Profit / (Loss) |  | 1,112,189.19 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | -645,800.75 |
| - on currencies |  | 2,802.94 |
| - on forward exchange contracts |  | -12,362.68 |
| Result of operations |  | 456,828.70 |
| - Subscriptions |  | 3,674,889.17 |
| - Redemptions |  | -5,206,366.56 |
| Net changes in Net Assets |  | -1,074,648.69 |
| Net assets at the beginning of the period |  | 14,393,677.69 |
| Net assets at the end of the period |  | 13,319,029.00 |

|  |
| --- |
| ODDO BHF Future of Food |
|  |
|  | Notes | Value (in USD) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 444,369.86 |
| Interest on cash accounts |  | 91.42 |
| Tax claim |  | 0.00 |
| Total Income |  | 444,461.28 |
| Expenses |  |  |
| Management Fee | 4 | 191,238.19 |
| Hedging fee | 8 | 711.32 |
| Depositary fees | 5 | 9,194.83 |
| Subscription tax | 7 | 12,160.27 |
| Administration fees | 9 | 59,950.39 |
| Miscellaneous fees |  | 56,469.21 |
| Transaction fees |  | 24,496.02 |
| Overdraft interest |  | 117.17 |
| Taxes paid to foreign authorities |  | 6,892.24 |
| Total Expenses |  | 361,229.64 |
| Net Profit / (Loss) |  | 83,231.64 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -2,217,415.11 |
| - on currencies |  | 9,534.51 |
| - on forward exchange contracts |  | -3,620.62 |
| Total Net Realised Profit / (Loss) |  | -2,128,269.58 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 1,919,779.83 |
| - on currencies |  | -309.47 |
| - on forward exchange contracts |  | 10,595.11 |
| Result of operations |  | -198,204.11 |
| - Subscriptions |  | 2,375,679.51 |
| - Redemptions |  | -8,815,300.38 |
| Net changes in Net Assets |  | -6,637,824.98 |
| Net assets at the beginning of the period |  | 51,135,965.50 |
| Net assets at the end of the period |  | 44,498,140.52 |

|  |
| --- |
| EUROPE SELECTION |
|  |
| 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. | 8,060 | CHF | 522,460.23 | 611,901.03 | 3.40% |
| LINDT & SPRUENGLI | 22 | CHF | 103,575.96 | 253,347.68 | 1.41% |
| LONZA GROUP A.G. -REG- | 592 | CHF | 182,409.59 | 323,521.13 | 1.80% |
| SIKA AG-REG | 1,398 | CHF | 206,277.69 | 366,240.05 | 2.04% |
| STRAUMANN HLDG | 4,489 | CHF | 405,542.02 | 667,566.57 | 3.71% |
| Total SWISS FRANC |  |  | 1,420,265.49 | 2,222,576.46 | 12.36% |
| COLOPLAST A/S -B- | 3,044 | DKK | 291,831.75 | 348,799.12 | 1.94% |
| NOVO NORDISK A/S-B | 9,226 | DKK | 459,494.80 | 1,362,225.69 | 7.58% |
| SIMCORP AS | 1,124 | DKK | 90,029.11 | 109,140.14 | 0.61% |
| Total DANISH KRONE |  |  | 841,355.66 | 1,820,164.95 | 10.12% |
| ADIDAS A.G. | 1,663 | EUR | 506,029.78 | 295,648.14 | 1.64% |
| ADYEN | 273 | EUR | 366,733.53 | 432,923.40 | 2.41% |
| AMADEUS IT GROUP S.A. | 6,080 | EUR | 283,695.19 | 423,776.00 | 2.36% |
| AMPLIFON Spa | 8,468 | EUR | 202,753.93 | 284,440.12 | 1.58% |
| ASML HOLDING NV | 2,166 | EUR | 485,210.53 | 1,436,058.00 | 7.99% |
| CARL ZEISS MEDITEC A.G. | 2,005 | EUR | 247,416.57 | 198,575.20 | 1.10% |
| DASSAULT SYSTEMES SE | 14,068 | EUR | 318,405.72 | 571,512.50 | 3.18% |
| DAVIDE CAMPARI-MILANO N.V. | 28,664 | EUR | 232,458.89 | 363,746.16 | 2.02% |
| ESSILOR LUXOTTICA S.A. | 4,838 | EUR | 513,729.40 | 835,038.80 | 4.64% |
| FERRARI NV | 1,536 | EUR | 199,540.20 | 460,032.00 | 2.56% |
| GERONIMO MARTINS | 16,768 | EUR | 253,153.27 | 423,224.32 | 2.35% |
| HEINEKEN N.V. -CF VORM- | 5,730 | EUR | 476,452.60 | 539,651.40 | 3.00% |
| HERMES INTERNATIONAL S.A. | 227 | EUR | 145,993.18 | 451,730.00 | 2.51% |
| INDUSTRIA DE DISENO TEXTIL S.A. | 14,470 | EUR | 362,400.83 | 513,106.20 | 2.85% |
| KINGSPAN GROUP PLC | 5,354 | EUR | 387,850.81 | 326,058.60 | 1.81% |
| L'OREAL | 645 | EUR | 144,992.27 | 275,479.50 | 1.53% |
| L'OREAL S.A. PRIME DE FIDELITE | 692 | EUR | 126,047.80 | 295,553.20 | 1.64% |
| LVMH MOET HENNESSY LOUIS VUI | 1,126 | EUR | 357,903.33 | 971,738.00 | 5.41% |
| MTU AERO ENGINES A.G. | 1,171 | EUR | 161,664.20 | 277,995.40 | 1.55% |
| NEMETSCHEK A.G. | 3,993 | EUR | 214,120.41 | 274,079.52 | 1.52% |
| RYANAIR HLDG PLC | 20,425 | EUR | 268,240.28 | 351,616.38 | 1.96% |
| SARTORIUS STEDIM BIOTECH | 1,040 | EUR | 352,493.13 | 237,848.00 | 1.32% |
| WOLTERS KLUWER N.V. | 1,475 | EUR | 166,317.89 | 171,542.50 | 0.95% |
| Total EURO |  |  | 6,773,603.74 | 10,411,373.34 | 57.91% |
| EXPERIAN PLC | 14,250 | GBP | 319,138.36 | 501,153.64 | 2.79% |
| HALMA PLC | 12,995 | GBP | 277,416.06 | 344,807.03 | 1.92% |
| Total BRITISH POUND |  |  | 596,554.42 | 845,960.67 | 4.71% |
| ASSA ABLOY AB -B- | 16,942 | SEK | 309,677.14 | 372,359.55 | 2.07% |
| Total SWEDISH KRONA |  |  | 309,677.14 | 372,359.55 | 2.07% |

|  |
| --- |
| EUROPE SELECTION |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| ACCENTURE PLC -A- | 2,897 | USD | 499,035.57 | 819,391.62 | 4.56% |
| ICON PLC | 1,849 | USD | 269,942.02 | 424,032.81 | 2.36% |
| LINDE PLC NPV -NEW- | 2,062 | USD | 455,155.34 | 720,244.69 | 4.01% |
| Total U.S. DOLLAR |  |  | 1,224,132.93 | 1,963,669.12 | 10.92% |
| Total Shares & Related Securities |  |  | 11,165,589.38 | 17,636,104.09 | 98.10% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 11,165,589.38 | 17,636,104.09 | 98.10% |
| Total Portfolio |  |  | 11,165,589.38 | 17,636,104.09 | 98.10% |

|  |
| --- |
| GOLD |
|  |
| Investment | Quantity | CCY | Cost (in USD) | Evaluation value (in USD) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| CAPRICORN METALS LTD | 80,626 | AUD | 249,293.28 | 216,284.78 | 1.62% |
| EVOLUTION MINING LTD | 98,716 | AUD | 276,755.37 | 211,587.12 | 1.59% |
| GOLD ROAD RESOURCES LTD | 125,041 | AUD | 108,549.77 | 123,601.77 | 0.93% |
| NEWCREST MINING LTD | 30,255 | AUD | 534,178.15 | 532,078.57 | 3.99% |
| NORTHERN STAR RESOURCES LTD | 88,418 | AUD | 609,072.29 | 710,973.51 | 5.34% |
| PERSEUS MINING LTD | 164,224 | AUD | 213,656.24 | 180,370.86 | 1.35% |
| REGIS RESOURCES LTD | 111,018 | AUD | 140,051.55 | 135,235.37 | 1.02% |
| SILVER LAKE RESOURCES LTD | 287,392 | AUD | 246,909.28 | 184,606.84 | 1.39% |
| WEST AFRICAN RESOURCES LTD | 538,103 | AUD | 383,157.50 | 309,832.75 | 2.33% |
| Total AUSTRALIAN DOLLAR |  |  | 2,761,623.43 | 2,604,571.57 | 19.56% |
| AGNICO EAGLE MINES LTD | 10,087 | CAD | 494,580.89 | 504,242.75 | 3.79% |
| ALAMOS GOLD -A- INC. | 56,476 | CAD | 420,584.17 | 673,470.73 | 5.06% |
| AYA GOLD & SILVER INC. | 30,577 | CAD | 126,664.37 | 196,178.02 | 1.47% |
| B2GOLD CORP. | 144,750 | CAD | 521,953.05 | 516,307.42 | 3.88% |
| CENTERRA GOLD INC. | 34,715 | CAD | 213,100.64 | 208,298.18 | 1.56% |
| DUNDEE PRECIOUS METALS INC. | 45,087 | CAD | 271,064.97 | 298,131.03 | 2.24% |
| ELDORADO GOLD CORP. | 20,495 | CAD | 217,771.00 | 207,694.26 | 1.56% |
| ENDEAVOUR MINING PLC | 22,016 | CAD | 483,446.97 | 528,238.37 | 3.97% |
| ENDEAVOUR SILVER CORP. | 57,817 | CAD | 200,505.45 | 168,214.75 | 1.26% |
| EQUINOX GOLD CORP. | 31,409 | CAD | 61,592.00 | 144,075.65 | 1.08% |
| FORTUNA SILVER MINES INC. | 41,277 | CAD | 199,101.80 | 134,441.45 | 1.01% |
| FRANCO-NEVADA CORP. | 5,208 | CAD | 749,963.63 | 743,094.01 | 5.58% |
| IAMGOLD CORP. | 51,547 | CAD | 161,007.70 | 136,728.27 | 1.03% |
| K92 MINING INC. | 71,660 | CAD | 363,277.24 | 311,381.24 | 2.34% |
| KINROSS GOLD CORP. | 45,330 | CAD | 217,429.51 | 216,496.36 | 1.63% |
| NEW GOLD INC. | 113,403 | CAD | 109,739.54 | 123,405.59 | 0.93% |
| OCEANAGOLD CORP. | 66,708 | CAD | 148,998.18 | 131,572.83 | 0.99% |
| PAN AMERICAN SILVER CORP. | 19,194 | CAD | 385,594.18 | 279,943.63 | 2.10% |
| SANDSTORM GOLD LTD | 26,212 | CAD | 159,046.38 | 134,498.59 | 1.01% |
| SILVERCREST METALS INC. | 2,886 | CAD | 20,115.32 | 16,924.11 | 0.13% |
| SSR MINING INC. | 23,359 | CAD | 339,388.41 | 331,687.28 | 2.49% |
| TOREX GOLD RESOURCES INC. | 13,800 | CAD | 129,377.11 | 196,266.65 | 1.47% |
| WESDOME GOLD MINES LTD | 36,193 | CAD | 268,645.74 | 188,721.54 | 1.42% |
| WHEATON PRECIOUS METALS CORP. | 15,154 | CAD | 690,239.44 | 656,075.62 | 4.93% |
| Total CANADIAN DOLLAR |  |  | 6,953,187.69 | 7,046,088.33 | 52.90% |
| CENTAMIN PLC | 178,802 | GBP | 243,460.87 | 207,200.40 | 1.56% |
| RIO TINTO PLC | 12,835 | GBP | 798,855.88 | 813,516.08 | 6.11% |
| Total BRITISH POUND |  |  | 1,042,316.75 | 1,020,716.48 | 7.66% |
| ANGLOGOLD ASHANTI LTD -ADR- | 8,649 | USD | 193,104.38 | 182,407.41 | 1.37% |
| BUENAVENTURA -SP ADR- -B- | 32,733 | USD | 240,788.59 | 240,587.55 | 1.81% |
| COEUR MINING INC. | 46,670 | USD | 163,459.44 | 132,542.80 | 1.00% |

|  |
| --- |
| GOLD |
|  |
| Investment | Quantity | CCY | Cost (in USD) | Evaluation value (in USD) | % Total Net Assets |
|  |
| DRDGOLD -ADR-REPR.10SH- | 13,964 | USD | 94,367.12 | 148,297.68 | 1.11% |
| FIRST MAJESTIC SILVER CORP. | 22,328 | USD | 196,319.85 | 126,153.20 | 0.95% |
| GOLD FIELDS LTD -ADR- | 14,426 | USD | 138,461.30 | 199,511.58 | 1.50% |
| HARMONY GOLD MINING | 48,730 | USD | 175,647.14 | 204,666.00 | 1.54% |
| HECLA MINING CO | 39,619 | USD | 241,033.40 | 204,037.85 | 1.53% |
| NEWMONT CORP. | 7,270 | USD | 331,870.33 | 310,138.20 | 2.33% |
| OSISKO GOLD ROYALTIES LTD | 20,102 | USD | 270,697.32 | 308,967.74 | 2.32% |
| ROYAL GOLD INC. | 3,981 | USD | 431,440.68 | 456,939.18 | 3.43% |
| Total U.S. DOLLAR |  |  | 2,477,189.55 | 2,514,249.19 | 18.88% |
| Total Shares & Related Securities |  |  | 13,234,317.42 | 13,185,625.57 | 99.00% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 13,234,317.42 | 13,185,625.57 | 99.00% |
| Total Portfolio |  |  | 13,234,317.42 | 13,185,625.57 | 99.00% |

|  |
| --- |
| ODDO BHF Future of Food |
|  |
| Investment | Quantity | CCY | Cost (in USD) | Evaluation value (in USD) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| ARYZTA A.G. | 270,000 | CHF | 439,510.50 | 447,868.33 | 1.01% |
| SIG GROUP A.G. | 60,000 | CHF | 1,255,334.30 | 1,655,194.71 | 3.72% |
| Total SWISS FRANC |  |  | 1,694,844.80 | 2,103,063.04 | 4.73% |
| CARREFOUR S.A. | 54,000 | EUR | 1,053,004.50 | 1,022,452.47 | 2.30% |
| DAVIDE CAMPARI-MILANO N.V. | 35,000 | EUR | 464,926.21 | 484,567.65 | 1.09% |
| DSM-FIRMENICH AG | 8,500 | EUR | 1,094,983.94 | 914,552.57 | 2.06% |
| EDENRED S.A. | 18,000 | EUR | 919,972.40 | 1,204,594.92 | 2.71% |
| GEA GROUP | 42,000 | EUR | 1,579,538.14 | 1,755,440.82 | 3.94% |
| HEINEKEN N.V. -CF VORM- | 9,500 | EUR | 967,155.59 | 976,128.61 | 2.19% |
| KERRY GROUP PLC | 17,000 | EUR | 2,200,416.49 | 1,657,730.86 | 3.73% |
| KRONES A.G. | 8,000 | EUR | 738,926.53 | 969,680.80 | 2.18% |
| Total EURO |  |  | 9,018,923.80 | 8,985,148.70 | 20.19% |
| COMPASS GROUP PLC | 65,000 | GBP | 1,508,000.24 | 1,819,668.24 | 4.09% |
| TATE & LYLE PLC | 174,111 | GBP | 1,994,218.52 | 1,607,031.44 | 3.61% |
| Total BRITISH POUND |  |  | 3,502,218.76 | 3,426,699.68 | 7.70% |
| AJINOMOTO | 27,000 | JPY | 890,922.51 | 1,069,277.23 | 2.40% |
| NISSIN FOOD PRODUCTS | 15,500 | JPY | 1,247,924.09 | 1,277,233.76 | 2.87% |
| YAKULT HONSHA CO LTD | 10,000 | JPY | 741,052.34 | 629,951.16 | 1.42% |
| Total JAPANESE YEN |  |  | 2,879,898.94 | 2,976,462.15 | 6.69% |
| BAKKAFROST P-F | 11,700 | NOK | 763,498.50 | 701,111.13 | 1.58% |
| SALMAR ASA | 17,250 | NOK | 1,197,610.52 | 697,015.85 | 1.57% |
| Total NORWEGIAN KRONE |  |  | 1,961,109.02 | 1,398,126.98 | 3.14% |
| AAK AB | 25,000 | SEK | 482,001.58 | 469,386.68 | 1.05% |
| ALFA LAVAL AB | 32,500 | SEK | 1,091,884.11 | 1,182,493.37 | 2.66% |
| Total SWEDISH KRONA |  |  | 1,573,885.69 | 1,651,880.05 | 3.71% |
| AGCO CORP. | 7,600 | USD | 991,153.73 | 998,792.00 | 2.24% |
| ARCHER-DANIELS MIDLAND COMPANY | 13,000 | USD | 608,421.35 | 982,280.00 | 2.21% |
| COSTCO WHOLESALE CORP. | 2,000 | USD | 1,035,348.55 | 1,076,760.00 | 2.42% |
| CROWN HLDG INC. | 11,750 | USD | 1,304,660.06 | 1,020,722.50 | 2.29% |
| DARDEN RESTAURANTS | 6,500 | USD | 975,128.47 | 1,086,020.00 | 2.44% |
| DARLING INGREDIENTS INC. | 16,500 | USD | 1,259,792.49 | 1,052,535.00 | 2.37% |
| DEERE & CY | 3,320 | USD | 1,113,110.15 | 1,345,230.80 | 3.02% |
| DOLLAR GENERAL CORP. | 3,200 | USD | 823,243.28 | 543,296.00 | 1.22% |
| ECOLAB INC. | 2,600 | USD | 436,824.36 | 485,394.00 | 1.09% |
| GENERAL MILLS INC. | 14,500 | USD | 1,158,428.13 | 1,112,150.00 | 2.50% |
| GRAPHIC PACKAGING HLDG CO | 74,000 | USD | 1,477,725.76 | 1,778,220.00 | 4.00% |

|  |
| --- |
| ODDO BHF Future of Food |
|  |
| Investment | Quantity | CCY | Cost (in USD) | Evaluation value (in USD) | % Total Net Assets |
|  |
| HOSTESS BRANDS INC. | 30,000 | USD | 703,427.62 | 759,600.00 | 1.71% |
| INTERNATIONAL FLAVORS & FRAGRANCES | 4,000 | USD | 470,167.69 | 318,360.00 | 0.72% |
| LAMB WESTON HLDG INC. -REG- | 10,500 | USD | 897,129.97 | 1,206,975.00 | 2.71% |
| SENSIENT TECHNOLOGIES CORP. | 17,200 | USD | 1,622,369.73 | 1,223,436.00 | 2.75% |
| STARBUCKS CORP. | 9,000 | USD | 943,059.19 | 891,540.00 | 2.00% |
| SYSCO CORP. | 10,000 | USD | 836,024.77 | 742,000.00 | 1.67% |
| THE HERSHEY CO | 5,000 | USD | 1,193,680.49 | 1,248,500.00 | 2.81% |
| THE SIMPLY GOOD FOODS CO | 36,500 | USD | 1,119,610.84 | 1,335,535.00 | 3.00% |
| VALMONT INDUSTRIES INC. | 3,600 | USD | 901,647.62 | 1,047,780.00 | 2.35% |
| XYLEM INC. | 12,000 | USD | 1,382,763.84 | 1,351,440.00 | 3.04% |
| Total U.S. DOLLAR |  |  | 21,253,718.09 | 21,606,566.30 | 48.56% |
| Total Shares & Related Securities |  |  | 41,884,599.10 | 42,147,946.90 | 94.72% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 41,884,599.10 | 42,147,946.90 | 94.72% |
| Total Portfolio |  |  | 41,884,599.10 | 42,147,946.90 | 94.72% |

(Content)
| EUROPE SELECTION | % Total Net Assets |
| --- | --- |
|  |
| FRANCE | 20.26 % |
| NETHERLANDS | 18.93 % |
| IRELAND | 14.69 % |
| SWITZERLAND | 12.36 % |
| DENMARK | 10.12 % |
| GERMANY | 5.82 % |
| SPAIN | 5.21 % |
| JERSEY | 2.79 % |
| PORTUGAL | 2.35 % |
| SWEDEN | 2.07 % |
| UNITED KINGDOM | 1.92 % |
| ITALY | 1.58 % |
| Total Portfolio | 98.10 % |

(Content)
| GOLD | % Total Net Assets |
| --- | --- |
|  |
| CANADA | 52.19 % |
| AUSTRALIA | 19.56 % |
| UNITED KINGDOM | 10.07 % |
| UNITED STATES OF AMERICA | 8.29 % |
| SOUTH AFRICA | 5.52 % |
| PERU | 1.81 % |
| JERSEY | 1.56 % |
| Total Portfolio | 99.00 % |

(Content)
| ODDO BHF Future of Food | % Total Net Assets |
| --- | --- |
|  |
| UNITED STATES OF AMERICA | 48.56 % |
| UNITED KINGDOM | 7.70 % |
| SWITZERLAND | 6.78 % |
| JAPAN | 6.69 % |
| GERMANY | 6.12 % |
| FRANCE | 5.00 % |
| IRELAND | 3.73 % |
| SWEDEN | 3.71 % |
| NETHERLANDS | 3.28 % |
| FAROE ISLANDS | 1.58 % |
| NORWAY | 1.57 % |
| Total Portfolio | 94.72 % |

| EUROPE SELECTION | % Total Net Assets |
| --- | --- |
|  |
| PHARMACOLOGY & PERSONAL CARE | 26.30 % |
| IT & INTERNET | 10.08 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 9.91 % |
| TEXTILE & GARMENTS | 9.56 % |
| BUILDING MATERIALS | 5.82 % |
| DISTRIBUTION | 5.21 % |
| TOBACCO & SPIRITS | 5.02 % |
| MISCELLANEOUS CONSUMER GOODS | 4.56 % |
| HEALTH CARE & SERVICES | 4.51 % |
| CHEMICAL PRODUCTS | 3.84 % |
| FINANCIAL SERVICES - HOLDINGS | 2.79 % |
| ROAD VEHICLES | 2.56 % |
| MECHANICAL CONSTRUCTION | 2.07 % |
| AIR TRANSPORT | 1.96 % |
| AEROSPACE INDUSTRY & DEFENCE | 1.55 % |
| FOOD & CLEANING MATERIALS | 1.41 % |
| PUBLISHING & BROADCASTING | 0.95 % |
| Total Portfolio | 98.10 % |

| GOLD | % Total Net Assets |
| --- | --- |
|  |
| PRECIOUS METALS & STONES | 61.06 % |
| INTERMEDIARY INDUSTRIAL PRODUCTIONS | 22.17 % |
| NONFERROUS METALS | 7.73 % |
| BUILDING MATERIALS | 3.43 % |
| MISCELLANEOUS | 2.32 % |
| OIL & DERIVED | 1.26 % |
| OTHER SERVICES | 1.03 % |
| Total Portfolio | 99.00 % |

| ODDO BHF Future of Food | % Total Net Assets |
| --- | --- |
|  |
| FOOD & CLEANING MATERIALS | 25.48 % |
| MECHANICAL CONSTRUCTION | 16.40 % |
| FINANCIAL SERVICES - HOLDINGS | 13.65 % |
| LEISURES & TOURISM | 8.53 % |
| DISTRIBUTION | 5.94 % |
| AGRICULTURE & FISHING | 5.85 % |
| ENERGY SOURCES | 5.40 % |
| PACKAGING INDUSTRY | 4.00 % |
| TOBACCO & SPIRITS | 3.28 % |
| MISCELLANEOUS | 2.71 % |
| DIVERSIFIED COMPANIES | 1.67 % |
| CHEMICAL PRODUCTS | 1.09 % |
| PHARMACOLOGY & PERSONAL CARE | 0.72 % |
| Total Portfolio | 94.72 % |

These allocations of assets were established on basis of data (gross) used by the administrative agent and do not reflect inevitably the economic analysis which directed the assets selection
| EUROPE SELECTION | % Total Net Assets |
| --- | --- |
|  |
| EURO | 57.92 % |
| SWISS FRANC | 12.36 % |
| U.S. DOLLAR | 10.92 % |
| DANISH KRONE | 10.12 % |
| BRITISH POUND | 4.71 % |
| SWEDISH KRONA | 2.07 % |
| Total Portfolio | 98.10 % |

| GOLD | % Total Net Assets |
| --- | --- |
|  |
| CANADIAN DOLLAR | 52.90 % |
| AUSTRALIAN DOLLAR | 19.56 % |
| U.S. DOLLAR | 18.88 % |
| BRITISH POUND | 7.66 % |
| Total Portfolio | 99.00 % |

| ODDO BHF Future of Food | % Total Net Assets |
| --- | --- |
|  |
| U.S. DOLLAR | 48.56 % |
| EURO | 20.19 % |
| BRITISH POUND | 7.70 % |
| JAPANESE YEN | 6.69 % |
| SWISS FRANC | 4.73 % |
| SWEDISH KRONA | 3.71 % |
| NORWEGIAN KRONE | 3.14 % |
| Total Portfolio | 94.72 % |

These allocations of assets were established on basis of data (gross) used by the administrative agent and do not reflect inevitably the currency analysis which directed the assets selection
|  |
| --- |
| EUROPE SELECTION |
|  |
| Shares outstanding at the beginning of the financial period | - EUR | 5,010.147 49.856 844.842 |
| Shares issued during the financial period | - EUR |
| Shares redeemed during the financial period | - EUR |
| Shares outstanding at the end of the financial period | - EUR | 4,215.161 |

GOLD
| Shares outstanding at the beginning of the financial period	- EUR | 91,267.947 |
| --- | --- |
| - USD | 239,622.609 |
| Shares issued during the financial period	- EUR | 6,563.768 |
| - USD | 66,092.777 |
| Shares redeemed during the financial period	- EUR | 10,454.558 |
| - USD | 92,012.867 |
| Shares outstanding at the end of the financial period	- EUR | 87,377.157 |
| - USD | 213,702.519 |

ODDO BHF Future of Food
| Shares outstanding at the beginning of the financial period	- Clw CHF (anc. B CHF) | 96,562.002 |
| --- | --- |
| - Clw USD (anc. B USD) | 6,338.000 |
| - CNw EUR H (anc. CH) | 11,944.880 |
| - CRw CHF (anc. A CHF) | 50,568.129 |
| - CRw EUR (anc. A EUR) | 36,463.172 |
| - S46060 CHF | 63,435.000 |
| - S46060 EUR | 99,796.000 |
| - S46060 USD | 150,312.387 |
| Shares issued during the financial period	- Clw CHF (anc. B CHF) | 1,500.000 |
| - Clw USD (anc. B USD) | 0.000 |
| - CNw EUR H (anc. CH) | 1,584.643 |
| - CRw CHF (anc. A CHF) | 1,110.000 |
| - CRw EUR (anc. A EUR) | 431.024 |
| - S46060 CHF | 1,131.000 |
| - S46060 EUR | 13,404.715 |
| - S46060 USD | 3,038.708 |
| Shares redeemed during the financial period	- Clw CHF (anc. B CHF) | 460.000 |
| - Clw USD (anc. B USD) | 370.000 |
| - CNw EUR H (anc. CH) | 220.879 |
| - CRw CHF (anc. A CHF) | 20,172.349 |
| - CRw EUR (anc. A EUR) | 25,205.780 |
| - S46060 CHF | 3,473.000 |
| - S46060 EUR | 5,532.000 |
| - S46060 USD | 31,792.428 |
| Shares outstanding at the end of the financial period	- Clw CHF (anc. B CHF) | 97,602.002 |
| - Clw USD (anc. B USD) | 5,968.000 |
| - CNw EUR H (anc. CH) | 13,308.644 |
| - CRw CHF (anc. A CHF) | 31,505.780 |
| - CRw EUR (anc. A EUR) | 11,688.416 |
| - S46060 CHF | 61,093.000 |
| - S46060 EUR | 107,668.715 |
| - S46060 USD | 121,558.667 |

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

| EUROPE SELECTION (EUR) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 26,775,751.45 29,372,366.13 17,778,328.75 17,978,410.29 | - EUR | 7,897.793 | 3,390.28 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - EUR | 6,462.245 | 4,545.23 | EUR |
| - EUR | 5,010.147 | 3,548.46 | EUR |
| - EUR | 4,215.161 | 4,265.18 | EUR |

| GOLD (USD) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 31,008,453.72 20,085,519.97 14,393,677.69 13,319,029.00 | - EUR | 84,363.427 | 44.59 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - USD | 468,756.782 | 56.33 | USD |
| - EUR | 63,989.683 | 39.65 | EUR |
| - USD | 336,456.032 | 51.12 | USD |
| - EUR | 91,267.947 | 34.05 | EUR |
| - USD | 239,622.609 | 46.23 | USD |
| - EUR | 87,377.157 | 34.13 | EUR |
| - USD | 213,702.519 | 47.10 | USD |

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

| ODDO BHF Future of Food (USD) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 65,478,795.23 60.301.304,77 47.312.447,08 44,498,140.52 | - Clw CHF (anc. B CHF) | 106,715.002 | 92.51 | CHF |
| --- | --- | --- | --- | --- | --- | --- |
| - CRw CHF (anc. A CHF) | 99,751.030 | 90,68 | USD |
| - CRw EUR (anc. A EUR) | 53,039.175 | 101.16 | EUR |
| - S46060 CHF | 276,235.000 | 101.95 | CHF |
| - S46060 EUR | 19,380.000 | 100.86 | EUR |
| - S46060 USD | 108,507.000 | 109,29 | USD |
| - CNw EUR H | 100.000 | 101.33 | EUR |
| - Clw CHF (anc, B CHF) | 101,220.002 | 103.51 | CHF |
| - Clw USD (anc, B USD) | 6,770.000 | 101.97 | USD |
| - CRw CHF (anc, A CHF) | 86,007.376 | 100.66 | CHF |
| - CRw EUR (anc, A EUR) | 50,811.703 | 117.20 | EUR |
| - S46060 CHF | 67,910.000 | 114.44 | CHF |
| - S46060 EUR | 81,237.000 | 118.16 | EUR |
| - S46060 USD | 153,464.000 | 118.99 | USD |
| - CNw EUR H | 11,944.880 | 86.50 | EUR |
| - Clw CHF (anc, B CHF) | 96,562.002 | 85.71 | CHF |
| - Clw USD (anc, B USD) | 6,338.000 | 83.15 | USD |
| - CRw CHF (anc, A CHF) | 50,568.129 | 82.68 | CHF |
| - CRw EUR (anc, A EUR) | 36,463.172 | 101.02 | EUR |
| - S46060 CHF | 63,435.000 | 95.04 | CHF |
| - S46060 EUR | 99,796.000 | 102.97 | EUR |
| - S46060 USD | 150,312.387 | 97.32 | USD |
| - Clw CHF (anc. B CHF) | 97,602.002 | 82.30 | CHF |
| - Clw USD (anc. B USD) | 5,968.000 | 82.58 | USD |
| - CNw EUR H (anc. CH) | 13,308.644 | 84.40 | EUR |
| - CRw CHF (anc. A CHF) | 31,505.780 | 88.39 | USD |
| - CRw EUR (anc. A EUR) | 11,688.416 | 97.74 | EUR |
| - S46060 CHF | 61,093.000 | 91.39 | CHF |
| - S46060 EUR | 107,668.715 | 100.17 | EUR |
| - S46060 USD | 121,558.667 | 96.78 | USD |


### NOTE 1 - ACCOUNTING PRINCIPLES AND METHODS
The financial statements of the SICAV are prepared on a going concern basis in accordance with the legal and regulatory requirements in force in Luxembourg relating to Undertakings for Collective Investment, on the basis of unofficial net asset values calculated as at 30 June 2023 for the sole purpose of these financial statements.
- Securities portfolio valuationSecurities and derivative products listed on an official stock exchange are valued on the basis of the last closing prices available at 30 June 2023 and, if there is more than one market, at the price of the relevant security's main market.

Securities listed on other markets that are regulated, operate regularly, and are recognised and open to the public are valued on the basis of the last closing prices available at 30 June 2023 and, if there is more than one market, at the price of the relevant security's main market.
Unlisted securities or securities whose price is not representative are valued at their last known trading value or, in the absence of a trading value, at the probable realisable value in accordance with the valuation criteria deemed relevant by the Board of Directors.
The value of shares or units in UCIs will be based on their last available net asset value on 30 June 2023.
The value of all other assets will be based on their probable realisation value, estimated prudently and in good faith.
- Net realised gain or loss on investmentsThe net realised profit or loss on sales of securities is calculated on the average cost of the securities sold.

The amounts of net realised profit or loss attributable to changes in exchange rates are recognised in
«Net realised exchange profit or loss» at the time of the sale.
- Conversion of foreign currenciesAll assets not given in the currency of the relevant Sub-Fund are converted into the currency of the Sub- Fund at the exchange rate in force in Luxembourg on the closing date.

The value of the net assets of the SICAV is equal to the total net values of the various Sub-Funds converted into EUR at the exchange rate in force in Luxembourg on the payment date.
- Acquisition cost of the securities in the portfolioFor 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 lossThe change in net unrealized gains or losses at the end of the year is also included in the results of operations.
- Change in the securities portfolioThe table of changes in the securities portfolio is available free of charge from the registered office of the SICAV.
- Income, expenditure and related provisionsInterest is recognised daily, 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, these 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.
- Forward exchange contractsForward exchange contracts are valued on the basis of the last forward closing prices available on 30 June 2023.
- Combined financial statementsThe net assets of the different Sub-Funds of the SICAV are expressed in their based currency.

The combined financial statements of the Fund are prepared in EUR and are equal to the sum of the corresponding items in the financial statements of each sub-fund converted into this currency at the exchange rates prevailing on the date of the financial statements (Note 2).
- Difference from Foreign ExchangeThe exchange rate difference at the level of the net assets of the SICAV is due to differences in the exchange rates of the currencies in which the net assets of the various Sub-Funds are denominated, during the period between 31 December 2022 and 30 June 2023.

NOTE 2 - EXCHANGE RATE
| 1  EUR	= | 0.97605 | CHF |
| --- | --- | --- |
| 1  EUR	= | 1.09100 | USD |

NOTE 3 - TAXES AND EXPENSES PAYABLE
| Management fee | 214,976.92 | EUR |
| --- | --- | --- |
| Hedging fee | 351.95 | EUR |
| Depositary fees | 8,975.99 | EUR |
| Subscription tax | 8,826.86 | EUR |
| Miscellaneous fees | 8,254.72 | EUR |
| Total | 241,386.45 | EUR |

| NOTE 4 - MANAGEMENT FEE AND PERFORMANCE FEE |
| --- |
| Management fees The Company pays the Management Company, at the expense of the sub-funds, a remuneration consisting of a management fee at an annual rate of - 1.50% for the Gold and Europe Selection sub-funds;
- 1.60% for the A USD, A CHF and A EUR classes for the ODDO BHF Future of Food sub-fund
- 0.80% for classes B USD, B CHF and B EUR for the ODDO BHF Future of Food sub-fund;
- 0.50% for classes S46060 USD, S46060 CHF and S46060 EUR for the ODDO BHF Future of Food sub- fund;
- 095% for the CNw-EUR [H] class for the ODDO BHF Future of Food sub-fund.
 In addition, the SICAV pays the Management Company an annual fee of 0.10% with a minimum annual amount of EUR 15,000 The management company will pass on a portion of this fee to the managers and investment advisors of the various sub-funds. FINALTIS S.A.S., the investment manager, receives an annual fee of 1.50% from the Management Company for the Gold sub-fund. FINALTIS and S.A. COMGEST, the investment managers, together receive an annual fee from the Management Company at a rate of 1.50% for the Europe Selection sub-fund, with a minimum of EUR 180,000 per annum for the exclusive benefit of S.A. Comgest, applicable as from 1 October 2023 These fees are payable quarterly and calculated on the average net assets of each sub-fund or class for the quarter in question. Performance fee A performance fee in favor of ODDO BHF (Suisse) SA, delegated manager, at a rate of 20% is calculated on the following share classes "CR CHF [H]", "CR EUR [H]", "CR USD", "CR CHF" and "CN EUR [H]" of the ODDO BHF Future of Food (ex Best Selection in Food Industry) sub-fund, and the benchmark index used for this performance fee calculation is the MSCI All Countries World Net Return EUR Index, dividends net reinvested (ticker NDUEACWF). The applicable Performance Fee rate is set at 20% for the "CR CHF [H]", "CR EUR [H]", "CR USD", "CR CHF" and "CN EUR [H]" classes, and the benchmark index used to calculate the Performance Fee is the MSCI All Countries World Net Return EUR Index, dividends net reinvested (ticker NDUEACWF, the "Benchmark Index"). The Investment Manager will receive the Performance Fee at the end of the calculation period provided that the NAV performance of the relevant share class exceeds that of the Benchmark Index. Crystallization occurs annually on the last business day of the calendar year. |
| The share classes mentioned above have not been launched as of June 30, 2023 |

| NOTE 5 - DEPOSITARY FEES |
| --- |
| The fees due to the Custodian Bank and the Transfer Agent shall be calculated based on the SICAV’s net assets and are payable quarterly on the basis of a percentage applied individually to the average net assets of each Sub-Fund during the quarter under review; the calculation shall be performed on the basis of the periodical valuations of the net assets of each Sub-Fund: - 0.040% on the portion of average net assets between EUR 0 and EUR 35 million;
- 0.030% on the portion of average net assets between EUR 35 and EUR 125 million;
- 0.020% on net assets more than 125 million euros. with a minimum of EUR 10,000.00 per Sub-Fund.
 |
| NOTE 6 - FEES ON SUBSCRIPTIONS AND REDEMPTIONS |
| For the EUROPE SELECTION and GOLD Sub-Funds, subscriptions are processed on the basis of the net asset value plus a maximum entry fee of 2%, which may be paid in whole or in part to approved intermediaries. For the ODDO BHF Future of Food Sub-Fund, subscriptions are processed on the basis of the net asset value. For the EUROPE SELECTION, GOLD and ODDO BHF Future of Food Sub-Funds, redemptions are processed on the basis of the net asset value. |
| NOTE 7 - SUBSCRIPTION TAX |
| The SICAV is governed by Luxembourg tax laws. Under current legislation and regulations, the SICAV is subject to the subscription tax in Luxembourg at an annual rate of 0,05%. This tax is payable quarterly and calculated on the net assets of the SICAV at the end of each quarter. The subscription tax is not payable on portions of assets invested in undertakings for collective investment that are 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 2023 on the basis of the value of the shares distributed in Belgium as recorded at 31 December 2022. |
| NOTE 8 - HEDGING FEES |
| For its class CNw-EUR [H], the Sub-Fund ODDO BHF Future of Food pays a hedging fee to the Management Company in remuneration for its services in connection with its currency hedging activity. This fee totals a maximum of 0.01% per month and per share class, on the average net assets of each share class during the month in question. This commission is payable quarterly. |
| NOTE 9 - ADMINISTRATION FEES |
| The Management Company pays to Degroof Petercam Asset Services S.A. a compensation which is charged to the SICAV. Domiciliation Agent: a commission of a flat amount of EUR 2,500 per annum per sub-fund, plus EUR 1,000 per annum per sub-fund for each foreign country where the sub-fund is authorised to be sold. Administrative Agent: an annual commission, payable quarterly, according to a degressive scale by portions of average net assets of : - 0.135% on the portion of net assets between EUR 0 and EUR 125 million;
- 0.105% on net assets in excess of EUR 125 million; with a minimum of EUR 33,750.00 per Sub-Fund.
 |

NOTE 10 - FORWARD FOREIGN EXCHANGE CONTRACTS
As at 30 June 2023, all forward foreign exchange contracts were dealt with Banque Degroof Petercam Luxembourg S.A. :
GOLD :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  USD) | Commitments ( IN  USD) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 31/07/2023 | EUR | 2,968,849.91 | USD | 3,250,000.00 | -5,747.04 | 3,239,015.25 |
| Total | -5,747.04 | 3,239,015.25 |

No collateral is held with the counterparty Banque Degroof Petercam Luxembourg S.A. in respect of these OTC derivative contracts.
ODDO BHF Future of Food :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  USD) | Commitments ( IN  USD) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 14/07/2023 | EUR | 1,127,602.00 | USD | 1,220,471.30 | 10,595.11 | 1,230,213.78 |
| Total | 10,595.11 | 1,230,213.78 |

No collateral is held with the counterparty Banque Degroof Petercam Luxembourg S.A. in respect of these OTC derivative contracts.

### NOTE 11 - EVENTS OCCURRING DURING THE PERIOD
Since January 1, 2023, the currency of Oddo BHF Future of Food has been USD instead of CHF.

### NOTE 12 - EVENTS AFTER THE PERIOD
The Board of Directors of the SICAV has decided to merge the "Gold" and "Europe Selection" sub-funds of the SICAV ("Absorbed Sub-Funds") into the "Gold" and "Europe Selection" sub-funds respectively of the Finaltis Funds SICAV ("Absorbing Sub-Funds") with effect from July 4, 2023, at a one-for-one ratio.
| OVERALL RISK ASSESSMENT |
| --- |
| Each Sub-Fund shall ensure that the global exposure relating to financial derivative instruments 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 using financial derivative instruments. In order to calculate global exposure, each Sub-Fund will use the commitment approach. This method consists of converting derivative financial instrument positions into equivalent positions in the underlying assets and then aggregating the market value of these equivalent positions. |

Translation (ENFR, 2023-06-30):
# du 1 janvier 2023 au 30 juin 2023
|  |  |  |
| --- | --- | --- |
|  | Notes | Combiné (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 665.110,74 |
| Intérêts créditeurs |  | 3.728,71 |
| Récupérations de taxes |  | 396,59 |
| Total Revenus |  | 669.236,04 |
| Charges |  |  |
| Commission de gestion | 4 | 435.204,11 |
| Commission de couverture | 8 | 651,99 |
| Commission de banque dépositaire | 5 | 18.617,60 |
| Taxe d'abonnement | 7 | 23.635,11 |
| Frais d'administration | 9 | 118.636,94 |
| Frais et commissions divers |  | 90.718,97 |
| Frais de transactions |  | 69.677,15 |
| Intérêts débiteurs |  | 607,02 |
| Redevance aux autorités étrangères |  | 12.050,59 |
| Total Charges |  | 769.799,48 |
| Revenus / Pertes Net(te)s |  | -100.563,44 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 563.880,90 |
| - sur devises |  | 4.287,80 |
| - sur changes à terme |  | 40.993,96 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 508.599,22 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 3.146.360,49 |
| - sur devises |  | 2.285,49 |
| - sur changes à terme |  | -1.620,14 |
| Résultat net des opérations |  | 3.655.625,06 |
| - Souscriptions |  | 5.747.743,49 |
| - Rachats |  | -16.272.465,43 |
| Variations de l'actif net |  | -6.869.096,89 |
| Actif net au début de la période |  | 75.596.202,50 |
| Différence de change de l'actif net du 31.12.22 au 30.06.23 | 1j | 2.245.960,51 |
| Actif net à la fin de la période |  | 70.973.066,13 |

|  |
| --- |
| EUROPE SELECTION |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 17.636.104,09 |
| Avoirs en banque |  | 411.972,56 |
| Intérêts à recevoir sur compte courant |  | 546,41 |
| Dividendes à recevoir sur actions |  | 5.349,01 |
| Montants à recevoir sur souscriptions |  | 0,00 |
| Montants à recevoir sur ventes de titres |  | 0,00 |
| Gains non réalisés sur changes à terme | 10 | 0,00 |
| Total Actif |  | 18.053.972,07 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 75.561,78 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 0,00 |
| Montants à payer sur rachats |  | 0,00 |
| Montants à payer sur achats de titres |  | 0,00 |
| Pertes non réalisées sur changes à terme | 10 | 0,00 |
| Total Exigible |  | 75.561,78 |
| Actif net à la fin de la période |  | 17.978.410,29 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - EUR |  | 4.215,161 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - EUR |  | 4.265,18 |

|  |
| --- |
| GOLD |
|  |
|  | Notes | Valeur (en USD) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 13.185.625,57 |
| Avoirs en banque |  | 208.531,82 |
| Intérêts à recevoir sur compte courant |  | 14,11 |
| Dividendes à recevoir sur actions |  | 2.036,21 |
| Montants à recevoir sur souscriptions |  | 0,00 |
| Montants à recevoir sur ventes de titres |  | 0,00 |
| Gains non réalisés sur changes à terme | 10 | 0,00 |
| Total Actif |  | 13.396.207,71 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 71.427,36 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 4,31 |
| Montants à payer sur rachats |  | 0,00 |
| Montants à payer sur achats de titres |  | 0,00 |
| Pertes non réalisées sur changes à terme | 10 | 5.747,04 |
| Total Exigible |  | 77.178,71 |
| Actif net à la fin de la période |  | 13.319.029,00 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - EUR |  | 87.377,157 |
| - USD |  | 213.702,519 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - EUR |  | 34,13 |
| - USD |  | 47,10 |

|  |
| --- |
| ODDO BHF Future of Food |
|  |
|  | Notes | Valeur (en USD) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 42.147.946,90 |
| Avoirs en banque |  | 2.161.887,24 |
| Intérêts à recevoir sur compte courant |  | 0,10 |
| Dividendes à recevoir sur actions |  | 59.635,75 |
| Montants à recevoir sur souscriptions |  | 3.090,19 |
| Montants à recevoir sur ventes de titres |  | 729.572,02 |
| Gains non réalisés sur changes à terme | 10 | 10.595,11 |
| Total Actif |  | 45.112.727,31 |
| Exigible |  |  |
| Taxes et frais à payer | 3 | 109.487,35 |
| Découverts en banque |  | 1,10 |
| Intérêts débiteurs à payer |  | 0,00 |
| Montants à payer sur rachats |  | 0,04 |
| Montants à payer sur achats de titres |  | 505.098,30 |
| Pertes non réalisées sur changes à terme | 10 | 0,00 |
| Total Exigible |  | 614.586,79 |
| Actif net à la fin de la période |  | 44.498.140,52 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - Clw CHF (anc. B CHF) |  | 97.602,002 |
| - Clw USD (anc. B USD) |  | 5.968,000 |
| - CNw EUR H (anc. CH) |  | 13.308,644 |
| - CRw CHF (anc. A CHF) |  | 31.505,780 |
| - CRw EUR (anc. A EUR) |  | 11.688,416 |
| - S46060 CHF |  | 61.093,000 |
| - S46060 EUR |  | 107.668,715 |
| - S46060 USD |  | 121.558,667 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - Clw CHF (anc. B CHF) |  | 82,30 |
| - Clw USD (anc. B USD) |  | 82,58 |
| - CNw EUR H (anc. CH) |  | 84,40 |
| - CRw CHF (anc. A CHF) |  | 88,39 |
| - CRw EUR (anc. A EUR) |  | 97,74 |
| - S46060 CHF |  | 91,39 |
| - S46060 EUR |  | 100,17 |
| - S46060 USD |  | 96,78 |

|  |
| --- |
| EUROPE SELECTION |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 133.119,50 |
| Intérêts créditeurs |  | 3.010,83 |
| Récupérations de taxes |  | 396,59 |
| Total Revenus |  | 136.526,92 |
| Charges |  |  |
| Commission de gestion | 4 | 150.258,83 |
| Commission de couverture | 8 | 0,00 |
| Commission de banque dépositaire | 5 | 5.093,59 |
| Taxe d'abonnement | 7 | 7.694,81 |
| Frais d'administration | 9 | 29.335,89 |
| Frais et commissions divers |  | 20.674,79 |
| Frais de transactions |  | 29.787,32 |
| Intérêts débiteurs |  | 0,74 |
| Redevance aux autorités étrangères |  | 2.776,69 |
| Total Charges |  | 245.622,66 |
| Revenus / Pertes Net(te)s |  | -109.095,74 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 1.556.868,71 |
| - sur devises |  | -7.844,34 |
| - sur changes à terme |  | 0,00 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 1.439.928,63 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 1.978.643,64 |
| - sur devises |  | 0,00 |
| - sur changes à terme |  | 0,00 |
| Résultat net des opérations |  | 3.418.572,27 |
| - Souscriptions |  | 201.851,02 |
| - Rachats |  | -3.420.341,75 |
| Variations de l'actif net |  | 200.081,54 |
| Actif net au début de la période |  | 17.778.328,75 |
| Actif net à la fin de la période |  | 17.978.410,29 |

|  |
| --- |
| GOLD |
|  |
|  | Notes | Valeur (en USD) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 136.032,58 |
| Intérêts créditeurs |  | 691,79 |
| Récupérations de taxes |  | 0,00 |
| Total Revenus |  | 136.724,37 |
| Charges |  |  |
| Commission de gestion | 4 | 119.637,11 |
| Commission de couverture | 8 | 0,00 |
| Commission de banque dépositaire | 5 | 5.559,86 |
| Taxe d'abonnement | 7 | 5.230,60 |
| Frais d'administration | 9 | 37.477,06 |
| Frais et commissions divers |  | 19.948,99 |
| Frais de transactions |  | 19.023,78 |
| Intérêts débiteurs |  | 544,28 |
| Redevance aux autorités étrangères |  | 3.225,59 |
| Total Charges |  | 210.647,27 |
| Revenus / Pertes Net(te)s |  | -73.922,90 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 1.134.065,41 |
| - sur devises |  | 3.701,65 |
| - sur changes à terme |  | 48.345,03 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 1.112.189,19 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | -645.800,75 |
| - sur devises |  | 2.802,94 |
| - sur changes à terme |  | -12.362,68 |
| Résultat net des opérations |  | 456.828,70 |
| - Souscriptions |  | 3.674.889,17 |
| - Rachats |  | -5.206.366,56 |
| Variations de l'actif net |  | -1.074.648,69 |
| Actif net au début de la période |  | 14.393.677,69 |
| Actif net à la fin de la période |  | 13.319.029,00 |

|  |
| --- |
| ODDO BHF Future of Food |
|  |
|  | Notes | Valeur (en USD) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 444.369,86 |
| Intérêts créditeurs |  | 91,42 |
| Récupérations de taxes |  | 0,00 |
| Total Revenus |  | 444.461,28 |
| Charges |  |  |
| Commission de gestion | 4 | 191.238,19 |
| Commission de couverture | 8 | 711,32 |
| Commission de banque dépositaire | 5 | 9.194,83 |
| Taxe d'abonnement | 7 | 12.160,27 |
| Frais d'administration | 9 | 59.950,39 |
| Frais et commissions divers |  | 56.469,21 |
| Frais de transactions |  | 24.496,02 |
| Intérêts débiteurs |  | 117,17 |
| Redevance aux autorités étrangères |  | 6.892,24 |
| Total Charges |  | 361.229,64 |
| Revenus / Pertes Net(te)s |  | 83.231,64 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -2.217.415,11 |
| - sur devises |  | 9.534,51 |
| - sur changes à terme |  | -3.620,62 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -2.128.269,58 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 1.919.779,83 |
| - sur devises |  | -309,47 |
| - sur changes à terme |  | 10.595,11 |
| Résultat net des opérations |  | -198.204,11 |
| - Souscriptions |  | 2.375.679,51 |
| - Rachats |  | -8.815.300,38 |
| Variations de l'actif net |  | -6.637.824,98 |
| Actif net au début de la période |  | 51.135.965,50 |
| Actif net à la fin de la période |  | 44.498.140,52 |

|  |
| --- |
| EUROPE SELECTION |
|  |
| 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. | 8.060 | CHF | 522.460,23 | 611.901,03 | 3,40% |
| LINDT & SPRUENGLI | 22 | CHF | 103.575,96 | 253.347,68 | 1,41% |
| LONZA GROUP A.G. -REG- | 592 | CHF | 182.409,59 | 323.521,13 | 1,80% |
| SIKA AG-REG | 1.398 | CHF | 206.277,69 | 366.240,05 | 2,04% |
| STRAUMANN HLDG | 4.489 | CHF | 405.542,02 | 667.566,57 | 3,71% |
| Total FRANC SUISSE |  |  | 1.420.265,49 | 2.222.576,46 | 12,36% |
| COLOPLAST A/S -B- | 3.044 | DKK | 291.831,75 | 348.799,12 | 1,94% |
| NOVO NORDISK A/S-B | 9.226 | DKK | 459.494,80 | 1.362.225,69 | 7,58% |
| SIMCORP AS | 1.124 | DKK | 90.029,11 | 109.140,14 | 0,61% |
| Total COURONNE DANOISE |  |  | 841.355,66 | 1.820.164,95 | 10,12% |
| ADIDAS A.G. | 1.663 | EUR | 506.029,78 | 295.648,14 | 1,64% |
| ADYEN | 273 | EUR | 366.733,53 | 432.923,40 | 2,41% |
| AMADEUS IT GROUP S.A. | 6.080 | EUR | 283.695,19 | 423.776,00 | 2,36% |
| AMPLIFON Spa | 8.468 | EUR | 202.753,93 | 284.440,12 | 1,58% |
| ASML HOLDING NV | 2.166 | EUR | 485.210,53 | 1.436.058,00 | 7,99% |
| CARL ZEISS MEDITEC A.G. | 2.005 | EUR | 247.416,57 | 198.575,20 | 1,10% |
| DASSAULT SYSTEMES SE | 14.068 | EUR | 318.405,72 | 571.512,50 | 3,18% |
| DAVIDE CAMPARI-MILANO N.V. | 28.664 | EUR | 232.458,89 | 363.746,16 | 2,02% |
| ESSILOR LUXOTTICA S.A. | 4.838 | EUR | 513.729,40 | 835.038,80 | 4,64% |
| FERRARI N.V. | 1.536 | EUR | 199.540,20 | 460.032,00 | 2,56% |
| GERONIMO MARTINS | 16.768 | EUR | 253.153,27 | 423.224,32 | 2,35% |
| HEINEKEN N.V. -CF VORM- | 5.730 | EUR | 476.452,60 | 539.651,40 | 3,00% |
| HERMES INTERNATIONAL S.A. | 227 | EUR | 145.993,18 | 451.730,00 | 2,51% |
| INDUSTRIA DE DISENO TEXTIL S.A. | 14.470 | EUR | 362.400,83 | 513.106,20 | 2,85% |
| KINGSPAN GROUP PLC | 5.354 | EUR | 387.850,81 | 326.058,60 | 1,81% |
| L'OREAL | 645 | EUR | 144.992,27 | 275.479,50 | 1,53% |
| L'OREAL S.A. PRIME DE FIDELITE | 692 | EUR | 126.047,80 | 295.553,20 | 1,64% |
| LVMH MOET HENNESSY LOUIS VUI | 1.126 | EUR | 357.903,33 | 971.738,00 | 5,41% |
| MTU AERO ENGINES A.G. | 1.171 | EUR | 161.664,20 | 277.995,40 | 1,55% |
| NEMETSCHEK A.G. | 3.993 | EUR | 214.120,41 | 274.079,52 | 1,52% |
| RYANAIR HLDG PLC | 20.425 | EUR | 268.240,28 | 351.616,38 | 1,96% |
| SARTORIUS STEDIM BIOTECH | 1.040 | EUR | 352.493,13 | 237.848,00 | 1,32% |
| WOLTERS KLUWER N.V. | 1.475 | EUR | 166.317,89 | 171.542,50 | 0,95% |
| Total EURO |  |  | 6.773.603,74 | 10.411.373,34 | 57,91% |
| EXPERIAN PLC | 14.250 | GBP | 319.138,36 | 501.153,64 | 2,79% |
| HALMA PLC | 12.995 | GBP | 277.416,06 | 344.807,03 | 1,92% |
| Total LIVRE STERLING |  |  | 596.554,42 | 845.960,67 | 4,71% |
| ASSA ABLOY AB -B- | 16.942 | SEK | 309.677,14 | 372.359,55 | 2,07% |
| Total COURONNE SUÉDOISE |  |  | 309.677,14 | 372.359,55 | 2,07% |

|  |
| --- |
| EUROPE SELECTION |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| ACCENTURE PLC -A- | 2.897 | USD | 499.035,57 | 819.391,62 | 4,56% |
| ICON PLC | 1.849 | USD | 269.942,02 | 424.032,81 | 2,36% |
| LINDE PLC NPV -NEW- | 2.062 | USD | 455.155,34 | 720.244,69 | 4,01% |
| Total DOLLAR DES ETATS-UNIS |  |  | 1.224.132,93 | 1.963.669,12 | 10,92% |
| Total Actions Cotées ou Négociées |  |  | 11.165.589,38 | 17.636.104,09 | 98,10% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 11.165.589,38 | 17.636.104,09 | 98,10% |
| Total du Portefeuille-Titres |  |  | 11.165.589,38 | 17.636.104,09 | 98,10% |

|  |
| --- |
| GOLD |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en USD) | Valeur d’évaluation (en USD) | % 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 |  |  |  |  |  |
| CAPRICORN METALS LTD | 80.626 | AUD | 249.293,28 | 216.284,78 | 1,62% |
| EVOLUTION MINING LTD | 98.716 | AUD | 276.755,37 | 211.587,12 | 1,59% |
| GOLD ROAD RESOURCES LTD | 125.041 | AUD | 108.549,77 | 123.601,77 | 0,93% |
| NEWCREST MINING LTD | 30.255 | AUD | 534.178,15 | 532.078,57 | 3,99% |
| NORTHERN STAR RESOURCES LTD | 88.418 | AUD | 609.072,29 | 710.973,51 | 5,34% |
| PERSEUS MINING LTD | 164.224 | AUD | 213.656,24 | 180.370,86 | 1,35% |
| REGIS RESOURCES LTD | 111.018 | AUD | 140.051,55 | 135.235,37 | 1,02% |
| SILVER LAKE RESOURCES LTD | 287.392 | AUD | 246.909,28 | 184.606,84 | 1,39% |
| WEST AFRICAN RESOURCES LTD | 538.103 | AUD | 383.157,50 | 309.832,75 | 2,33% |
| Total DOLLAR AUSTRALIEN |  |  | 2.761.623,43 | 2.604.571,57 | 19,56% |
| AGNICO EAGLE MINES LTD | 10.087 | CAD | 494.580,89 | 504.242,75 | 3,79% |
| ALAMOS GOLD -A- INC. | 56.476 | CAD | 420.584,17 | 673.470,73 | 5,06% |
| AYA GOLD & SILVER INC. | 30.577 | CAD | 126.664,37 | 196.178,02 | 1,47% |
| B2GOLD CORP. | 144.750 | CAD | 521.953,05 | 516.307,42 | 3,88% |
| CENTERRA GOLD INC. | 34.715 | CAD | 213.100,64 | 208.298,18 | 1,56% |
| DUNDEE PRECIOUS METALS INC. | 45.087 | CAD | 271.064,97 | 298.131,03 | 2,24% |
| ELDORADO GOLD CORP. | 20.495 | CAD | 217.771,00 | 207.694,26 | 1,56% |
| ENDEAVOUR MINING PLC | 22.016 | CAD | 483.446,97 | 528.238,37 | 3,97% |
| ENDEAVOUR SILVER CORP. | 57.817 | CAD | 200.505,45 | 168.214,75 | 1,26% |
| EQUINOX GOLD CORP. | 31.409 | CAD | 61.592,00 | 144.075,65 | 1,08% |
| FORTUNA SILVER MINES INC. | 41.277 | CAD | 199.101,80 | 134.441,45 | 1,01% |
| FRANCO-NEVADA CORP. | 5.208 | CAD | 749.963,63 | 743.094,01 | 5,58% |
| IAMGOLD CORP. | 51.547 | CAD | 161.007,70 | 136.728,27 | 1,03% |
| K92 MINING INC. | 71.660 | CAD | 363.277,24 | 311.381,24 | 2,34% |
| KINROSS GOLD CORP. | 45.330 | CAD | 217.429,51 | 216.496,36 | 1,63% |
| NEW GOLD INC. | 113.403 | CAD | 109.739,54 | 123.405,59 | 0,93% |
| OCEANAGOLD CORP. | 66.708 | CAD | 148.998,18 | 131.572,83 | 0,99% |
| PAN AMERICAN SILVER CORP. | 19.194 | CAD | 385.594,18 | 279.943,63 | 2,10% |
| SANDSTORM GOLD LTD | 26.212 | CAD | 159.046,38 | 134.498,59 | 1,01% |
| SILVERCREST METALS INC. | 2.886 | CAD | 20.115,32 | 16.924,11 | 0,13% |
| SSR MINING INC. | 23.359 | CAD | 339.388,41 | 331.687,28 | 2,49% |
| TOREX GOLD RESOURCES INC. | 13.800 | CAD | 129.377,11 | 196.266,65 | 1,47% |
| WESDOME GOLD MINES LTD | 36.193 | CAD | 268.645,74 | 188.721,54 | 1,42% |
| WHEATON PRECIOUS METALS CORP. | 15.154 | CAD | 690.239,44 | 656.075,62 | 4,93% |
| Total DOLLAR CANADIEN |  |  | 6.953.187,69 | 7.046.088,33 | 52,90% |
| CENTAMIN PLC | 178.802 | GBP | 243.460,87 | 207.200,40 | 1,56% |
| RIO TINTO PLC | 12.835 | GBP | 798.855,88 | 813.516,08 | 6,11% |
| Total LIVRE STERLING |  |  | 1.042.316,75 | 1.020.716,48 | 7,66% |
| ANGLOGOLD ASHANTI LTD -ADR- | 8.649 | USD | 193.104,38 | 182.407,41 | 1,37% |
| BUENAVENTURA -SP ADR- -B- | 32.733 | USD | 240.788,59 | 240.587,55 | 1,81% |
| COEUR MINING INC. | 46.670 | USD | 163.459,44 | 132.542,80 | 1,00% |

|  |
| --- |
| GOLD |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en USD) | Valeur d’évaluation (en USD) | % de l'actif net |
|  |
| DRDGOLD -ADR-REPR.10SH- | 13.964 | USD | 94.367,12 | 148.297,68 | 1,11% |
| FIRST MAJESTIC SILVER CORP. | 22.328 | USD | 196.319,85 | 126.153,20 | 0,95% |
| GOLD FIELDS LTD -ADR- | 14.426 | USD | 138.461,30 | 199.511,58 | 1,50% |
| HARMONY GOLD MINING | 48.730 | USD | 175.647,14 | 204.666,00 | 1,54% |
| HECLA MINING CO | 39.619 | USD | 241.033,40 | 204.037,85 | 1,53% |
| NEWMONT CORP. | 7.270 | USD | 331.870,33 | 310.138,20 | 2,33% |
| OSISKO GOLD ROYALTIES LTD | 20.102 | USD | 270.697,32 | 308.967,74 | 2,32% |
| ROYAL GOLD INC. | 3.981 | USD | 431.440,68 | 456.939,18 | 3,43% |
| Total DOLLAR DES ETATS-UNIS |  |  | 2.477.189,55 | 2.514.249,19 | 18,88% |
| Total Actions Cotées ou Négociées |  |  | 13.234.317,42 | 13.185.625,57 | 99,00% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 13.234.317,42 | 13.185.625,57 | 99,00% |
| Total du Portefeuille-Titres |  |  | 13.234.317,42 | 13.185.625,57 | 99,00% |

|  |
| --- |
| ODDO BHF Future of Food |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en USD) | Valeur d’évaluation (en USD) | % 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 |  |  |  |  |  |
| ARYZTA A.G. | 270.000 | CHF | 439.510,50 | 447.868,33 | 1,01% |
| SIG GROUP A.G. | 60.000 | CHF | 1.255.334,30 | 1.655.194,71 | 3,72% |
| Total FRANC SUISSE |  |  | 1.694.844,80 | 2.103.063,04 | 4,73% |
| CARREFOUR S.A. | 54.000 | EUR | 1.053.004,50 | 1.022.452,47 | 2,30% |
| DAVIDE CAMPARI-MILANO N.V. | 35.000 | EUR | 464.926,21 | 484.567,65 | 1,09% |
| DSM-FIRMENICH AG | 8.500 | EUR | 1.094.983,94 | 914.552,57 | 2,06% |
| EDENRED S.A. | 18.000 | EUR | 919.972,40 | 1.204.594,92 | 2,71% |
| GEA GROUP | 42.000 | EUR | 1.579.538,14 | 1.755.440,82 | 3,94% |
| HEINEKEN N.V. -CF VORM- | 9.500 | EUR | 967.155,59 | 976.128,61 | 2,19% |
| KERRY GROUP PLC | 17.000 | EUR | 2.200.416,49 | 1.657.730,86 | 3,73% |
| KRONES A.G. | 8.000 | EUR | 738.926,53 | 969.680,80 | 2,18% |
| Total EURO |  |  | 9.018.923,80 | 8.985.148,70 | 20,19% |
| COMPASS GROUP PLC | 65.000 | GBP | 1.508.000,24 | 1.819.668,24 | 4,09% |
| TATE & LYLE PLC | 174.111 | GBP | 1.994.218,52 | 1.607.031,44 | 3,61% |
| Total LIVRE STERLING |  |  | 3.502.218,76 | 3.426.699,68 | 7,70% |
| AJINOMOTO | 27.000 | JPY | 890.922,51 | 1.069.277,23 | 2,40% |
| NISSIN FOOD PRODUCTS | 15.500 | JPY | 1.247.924,09 | 1.277.233,76 | 2,87% |
| YAKULT HONSHA CO LTD | 10.000 | JPY | 741.052,34 | 629.951,16 | 1,42% |
| Total YEN JAPONAIS |  |  | 2.879.898,94 | 2.976.462,15 | 6,69% |
| BAKKAFROST P-F | 11.700 | NOK | 763.498,50 | 701.111,13 | 1,58% |
| SALMAR ASA | 17.250 | NOK | 1.197.610,52 | 697.015,85 | 1,57% |
| Total COURONNE NORVÉGIENNE |  |  | 1.961.109,02 | 1.398.126,98 | 3,14% |
| AAK AB | 25.000 | SEK | 482.001,58 | 469.386,68 | 1,05% |
| ALFA LAVAL AB | 32.500 | SEK | 1.091.884,11 | 1.182.493,37 | 2,66% |
| Total COURONNE SUÉDOISE |  |  | 1.573.885,69 | 1.651.880,05 | 3,71% |
| AGCO CORP. | 7.600 | USD | 991.153,73 | 998.792,00 | 2,24% |
| ARCHER-DANIELS MIDLAND COMPANY | 13.000 | USD | 608.421,35 | 982.280,00 | 2,21% |
| COSTCO WHOLESALE CORP. | 2.000 | USD | 1.035.348,55 | 1.076.760,00 | 2,42% |
| CROWN HLDG INC. | 11.750 | USD | 1.304.660,06 | 1.020.722,50 | 2,29% |
| DARDEN RESTAURANTS | 6.500 | USD | 975.128,47 | 1.086.020,00 | 2,44% |
| DARLING INGREDIENTS INC. | 16.500 | USD | 1.259.792,49 | 1.052.535,00 | 2,37% |
| DEERE & CY | 3.320 | USD | 1.113.110,15 | 1.345.230,80 | 3,02% |
| DOLLAR GENERAL CORP. | 3.200 | USD | 823.243,28 | 543.296,00 | 1,22% |
| ECOLAB INC. | 2.600 | USD | 436.824,36 | 485.394,00 | 1,09% |
| GENERAL MILLS INC. | 14.500 | USD | 1.158.428,13 | 1.112.150,00 | 2,50% |
| GRAPHIC PACKAGING HLDG CO | 74.000 | USD | 1.477.725,76 | 1.778.220,00 | 4,00% |

|  |
| --- |
| ODDO BHF Future of Food |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en USD) | Valeur d’évaluation (en USD) | % de l'actif net |
|  |
| HOSTESS BRANDS INC. | 30.000 | USD | 703.427,62 | 759.600,00 | 1,71% |
| INTERNATIONAL FLAVORS & FRAGRANCES | 4.000 | USD | 470.167,69 | 318.360,00 | 0,72% |
| LAMB WESTON HLDG INC. -REG- | 10.500 | USD | 897.129,97 | 1.206.975,00 | 2,71% |
| SENSIENT TECHNOLOGIES CORP. | 17.200 | USD | 1.622.369,73 | 1.223.436,00 | 2,75% |
| STARBUCKS CORP. | 9.000 | USD | 943.059,19 | 891.540,00 | 2,00% |
| SYSCO CORP. | 10.000 | USD | 836.024,77 | 742.000,00 | 1,67% |
| THE HERSHEY CO | 5.000 | USD | 1.193.680,49 | 1.248.500,00 | 2,81% |
| THE SIMPLY GOOD FOODS CO | 36.500 | USD | 1.119.610,84 | 1.335.535,00 | 3,00% |
| VALMONT INDUSTRIES INC. | 3.600 | USD | 901.647,62 | 1.047.780,00 | 2,35% |
| XYLEM INC. | 12.000 | USD | 1.382.763,84 | 1.351.440,00 | 3,04% |
| Total DOLLAR DES ETATS-UNIS |  |  | 21.253.718,09 | 21.606.566,30 | 48,56% |
| Total Actions Cotées ou Négociées |  |  | 41.884.599,10 | 42.147.946,90 | 94,72% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 41.884.599,10 | 42.147.946,90 | 94,72% |
| Total du Portefeuille-Titres |  |  | 41.884.599,10 | 42.147.946,90 | 94,72% |

(Content)
| EUROPE SELECTION | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| FRANCE | 20,26 % |
| PAYS-BAS | 18,93 % |
| IRLANDE | 14,69 % |
| SUISSE | 12,36 % |
| DANEMARK | 10,12 % |
| ALLEMAGNE | 5,82 % |
| ESPAGNE | 5,21 % |
| JERSEY | 2,79 % |
| PORTUGAL | 2,35 % |
| SUÈDE | 2,07 % |
| ROYAUME-UNI | 1,92 % |
| ITALIE | 1,58 % |
| Total du Portefeuille-Titres | 98,10 % |

(Content)
| GOLD | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| CANADA | 52,19 % |
| AUSTRALIE | 19,56 % |
| ROYAUME-UNI | 10,07 % |
| ÉTATS-UNIS | 8,29 % |
| AFRIQUE DU SUD | 5,52 % |
| PÉROU | 1,81 % |
| JERSEY | 1,56 % |
| Total du Portefeuille-Titres | 99,00 % |

(Content)
| ODDO BHF Future of Food | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| ÉTATS-UNIS | 48,56 % |
| ROYAUME-UNI | 7,70 % |
| SUISSE | 6,78 % |
| JAPON | 6,69 % |
| ALLEMAGNE | 6,12 % |
| FRANCE | 5,00 % |
| IRLANDE | 3,73 % |
| SUÈDE | 3,71 % |
| PAYS-BAS | 3,28 % |
| ILES FÉROÉ | 1,58 % |
| NORVÈGE | 1,57 % |
| Total du Portefeuille-Titres | 94,72 % |

| EUROPE SELECTION | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| PHARMACIE - COSMETIQUE | 26,30 % |
| IT & INTERNET | 10,08 % |
| COMPOSANTS & INSTRUMENTS ELECTRONIQUES | 9,91 % |
| TEXTILE & HABILLEMENT | 9,56 % |
| MATERIAUX DE CONSTRUCTION | 5,82 % |
| DISTRIBUTION | 5,21 % |
| BOISSONS & TABACS | 5,02 % |
| BIENS DE CONSOMMATION DIVERS | 4,56 % |
| SOINS & SERVICE DE SANTE | 4,51 % |
| PRODUITS CHIMIQUES | 3,84 % |
| SERVICES FINANCIERS - HOLDINGS | 2,79 % |
| VEHICULES ROUTIERS | 2,56 % |
| CONSTRUCTION MECANIQUE | 2,07 % |
| TRANSPORTS AERIENS | 1,96 % |
| AERONAUTIQUE & DEFENSE | 1,55 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 1,41 % |
| DIFFUSION & EDITION | 0,95 % |
| Total du Portefeuille-Titres | 98,10 % |

| GOLD | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| METAUX & PIERRES PRECIEUSES | 61,06 % |
| PRODUCTIONS INDUSTRIELLES INTERMEDIAIRES | 22,17 % |
| METAUX NON-FERREUX | 7,73 % |
| MATERIAUX DE CONSTRUCTION | 3,43 % |
| DIVERS | 2,32 % |
| PETROLE & DERIVES | 1,26 % |
| DIVERS BIENS DE CAPITAUX | 1,03 % |
| Total du Portefeuille-Titres | 99,00 % |

| ODDO BHF Future of Food | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 25,48 % |
| CONSTRUCTION MECANIQUE | 16,40 % |
| SERVICES FINANCIERS - HOLDINGS | 13,65 % |
| LOISIRS & TOURISME | 8,53 % |
| DISTRIBUTION | 5,94 % |
| AGRICULTURE & PECHE | 5,85 % |
| SOURCES D'ENERGIE | 5,40 % |
| INDUSTRIE D'EMBALLAGE | 4,00 % |
| BOISSONS & TABACS | 3,28 % |
| DIVERS | 2,71 % |
| SOCIETES DIVERSIFIEES | 1,67 % |
| PRODUITS CHIMIQUES | 1,09 % |
| PHARMACIE - COSMETIQUE | 0,72 % |
| Total du Portefeuille-Titres | 94,72 % |

Ces répartitions d’actifs ont été établies sur base de données (brutes) utilisées par l’agent administratif et ne reflètent pas nécessairement l’analyse
économique qui a orienté la sélection d’actif.
| EUROPE SELECTION | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 57,92 % |
| FRANC SUISSE | 12,36 % |
| DOLLAR DES ETATS-UNIS | 10,92 % |
| COURONNE DANOISE | 10,12 % |
| LIVRE STERLING | 4,71 % |
| COURONNE SUÉDOISE | 2,07 % |
| Total du Portefeuille-Titres | 98,10 % |

| GOLD | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| DOLLAR CANADIEN | 52,90 % |
| DOLLAR AUSTRALIEN | 19,56 % |
| DOLLAR DES ETATS-UNIS | 18,88 % |
| LIVRE STERLING | 7,66 % |
| Total du Portefeuille-Titres | 99,00 % |

| ODDO BHF Future of Food | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| DOLLAR DES ETATS-UNIS | 48,56 % |
| EURO | 20,19 % |
| LIVRE STERLING | 7,70 % |
| YEN JAPONAIS | 6,69 % |
| FRANC SUISSE | 4,73 % |
| COURONNE SUÉDOISE | 3,71 % |
| COURONNE NORVÉGIENNE | 3,14 % |
| Total du Portefeuille-Titres | 94,72 % |

Ces répartitions d’actifs ont été établies sur base de données (brutes) utilisées par l’agent administratif et ne reflètent pas nécessairement l’analyse par devise qui a orienté la sélection d’actif.
|  |
| --- |
| EUROPE SELECTION |
|  |
| Actions en circulation au début de la période | - EUR | 5.010,147 49,856 844,842 |
| Actions émises au cours de la période | - EUR |
| Actions remboursées au cours de la période | - EUR |
| Actions en circulation à la fin de la période | - EUR | 4.215,161 |

GOLD
| Actions en circulation au début de la période	- EUR | 91.267,947 |
| --- | --- |
| - USD | 239.622,609 |
| Actions émises au cours de la période	- EUR | 6.563,768 |
| - USD | 66.092,777 |
| Actions remboursées au cours de la période	- EUR | 10.454,558 |
| - USD | 92.012,867 |
| Actions en circulation à la fin de la période	- EUR | 87.377,157 |
| - USD | 213.702,519 |

ODDO BHF Future of Food
| Actions en circulation au début de la période	- Clw CHF (anc. B CHF) | 96.562,002 |
| --- | --- |
| - Clw USD (anc. B USD) | 6.338,000 |
| - CNw EUR H (anc. CH) | 11.944,880 |
| - CRw CHF (anc. A CHF) | 50.568,129 |
| - CRw EUR (anc. A EUR) | 36.463,172 |
| - S46060 CHF | 63.435,000 |
| - S46060 EUR | 99.796,000 |
| - S46060 USD | 150.312,387 |
| Actions émises au cours de la période	- Clw CHF (anc. B CHF) | 1.500,000 |
| - Clw USD (anc. B USD) | 0,000 |
| - CNw EUR H (anc. CH) | 1.584,643 |
| - CRw CHF (anc. A CHF) | 1.110,000 |
| - CRw EUR (anc. A EUR) | 431,024 |
| - S46060 CHF | 1.131,000 |
| - S46060 EUR | 13.404,715 |
| - S46060 USD | 3.038,708 |
| Actions remboursées au cours de la période	- Clw CHF (anc. B CHF) | 460,000 |
| - Clw USD (anc. B USD) | 370,000 |
| - CNw EUR H (anc. CH) | 220,879 |
| - CRw CHF (anc. A CHF) | 20.172,349 |
| - CRw EUR (anc. A EUR) | 25.205,780 |
| - S46060 CHF | 3.473,000 |
| - S46060 EUR | 5.532,000 |
| - S46060 USD | 31.792,428 |
| Actions en circulation à la fin de la période	- Clw CHF (anc. B CHF) | 97.602,002 |
| - Clw USD (anc. B USD) | 5.968,000 |
| - CNw EUR H (anc. CH) | 13.308,644 |
| - CRw CHF (anc. A CHF) | 31.505,780 |
| - CRw EUR (anc. A EUR) | 11.688,416 |
| - S46060 CHF | 61.093,000 |
| - S46060 EUR | 107.668,715 |
| - S46060 USD | 121.558,667 |

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

| EUROPE SELECTION (EUR) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 26.775.751,45 29.372.366,13 17.778.328,75 17.978.410,29 | - EUR | 7.897,793 | 3.390,28 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - EUR | 6.462,245 | 4.545,23 | EUR |
| - EUR | 5.010,147 | 3.548,46 | EUR |
| - EUR | 4.215,161 | 4.265,18 | EUR |

| GOLD (USD) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 31.008.453,72 20.085.519,97 14.393.677,69 13.319.029,00 | - EUR | 84.363,427 | 44,59 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - USD | 468.756,782 | 56,33 | USD |
| - EUR | 63.989,683 | 39,65 | EUR |
| - USD | 336.456,032 | 51,12 | USD |
| - EUR | 91.267,947 | 34,05 | EUR |
| - USD | 239.622,609 | 46,23 | USD |
| - EUR | 87.377,157 | 34,13 | EUR |
| - USD | 213.702,519 | 47,10 | USD |

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

| ODDO BHF Future of Food (USD) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 65.478.795,23 60.301.304,77 47.312.447,08 44.498.140,52 | - Clw CHF (anc. B CHF) | 106.715,002 | 92,51 | CHF |
| --- | --- | --- | --- | --- | --- | --- |
| - CRw CHF (anc. A CHF) | 99.751,030 | 90,68 | USD |
| - CRw EUR (anc. A EUR) | 53.039,175 | 101,16 | EUR |
| - S46060 CHF | 276.235,000 | 101,95 | CHF |
| - S46060 EUR | 19.380,000 | 100,86 | EUR |
| - S46060 USD | 108.507,000 | 109,29 | USD |
| - CNw EUR H | 100,000 | 101,33 | EUR |
| - Clw CHF (anc. B CHF) | 101.220,002 | 103,51 | CHF |
| - Clw USD (anc. B USD) | 6.770,000 | 101,97 | USD |
| - CRw CHF (anc. A CHF) | 86.007,376 | 100,66 | CHF |
| - CRw EUR (anc. A EUR) | 50.811,703 | 117,20 | EUR |
| - S46060 CHF | 67.910,000 | 114,44 | CHF |
| - S46060 EUR | 81.237,000 | 118,16 | EUR |
| - S46060 USD | 153.464,000 | 118,99 | USD |
| - CNw EUR H | 11.944,880 | 86,50 | EUR |
| - Clw CHF (anc. B CHF) | 96.562,002 | 85,71 | CHF |
| - Clw USD (anc. B USD) | 6.338,000 | 83,15 | USD |
| - CRw CHF (anc. A CHF) | 50.568,129 | 82,68 | CHF |
| - CRw EUR (anc. A EUR) | 36.463,172 | 101,02 | EUR |
| - S46060 CHF | 63.435,000 | 95,04 | CHF |
| - S46060 EUR | 99.796,000 | 102,97 | EUR |
| - S46060 USD | 150.312,387 | 97,32 | USD |
| - Clw CHF (anc. B CHF) | 97.602,002 | 82,30 | CHF |
| - Clw USD (anc. B USD) | 5.968,000 | 82,58 | USD |
| - CNw EUR H (anc. CH) | 13.308,644 | 84,40 | EUR |
| - CRw CHF (anc. A CHF) | 31.505,780 | 88,39 | USD |
| - CRw EUR (anc. A EUR) | 11.688,416 | 97,74 | EUR |
| - S46060 CHF | 61.093,000 | 91,39 | CHF |
| - S46060 EUR | 107.668,715 | 100,17 | EUR |
| - S46060 USD | 121.558,667 | 96,78 | USD |


### NOTE 1 - PRINCIPES ET MÉTHODES COMPTABLES
Les états financiers de la SICAV sont établis selon le principe de continuité d'exploitation conformément aux prescriptions légales et réglementaires en vigueur au Luxembourg relatives aux Organismes de Placement Collectif, sur la base des valeurs nettes d'inventaire non-officielles calculées au 30 juin 2023 pour les seuls besoins de ces états financiers.
- Evaluation du portefeuille-titres et des instruments dérivésLes titres cotés à une bourse de valeur officielle sont évalués sur la base des derniers cours de clôture disponibles au 30 juin 2023 et, s'il y a plusieurs marchés, au cours du marché principal du titre en question.

Les titres cotés sur d'autres marchés réglementés, en fonctionnement régulier, reconnus et ouverts au public sont évalués sur la base des derniers cours de clôture disponibles au 30 juin 2023 et, s'il y a plusieurs marchés, au cours du marché principal du titre en question.
Les titres non cotés 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 actions ou les parts d’OPC seront évaluées sur base de leur dernière valeur nette d’inventaire
disponible au 30 juin 2023.
Tous les autres actifs seront évalués sur base de leur valeur probable de réalisation qui sera estimée avec prudence et bonne foi.
- Plus ou moins-values nettes réalisées sur investissementsLes 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.
- Conversion des devises étrangèresLes 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.
- Coût d'acquisition des titres en portefeuillePour les titres libellés en devises autres que la devise du compartiment concerné, 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 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.
- Contrats de change à termeLes contrats de change à terme sont évalués sur base des derniers taux «forward» de clôture disponibles au 30 juin 2023.
- 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 décembre 2022 et le 30 juin 2023.


### NOTE 2 - TAUX DE CHANGE
| 1  EUR	= | 0,97605 | CHF |
| --- | --- | --- |
| 1  EUR	= | 1,09100 | USD |

NOTE 3 - TAXES ET FRAIS À PAYER
| Commission de gestion | 214.976,92 | EUR |
| --- | --- | --- |
| Commission de couverture | 351,95 | EUR |
| Commission de banque dépositaire | 8.975,99 | EUR |
| Taxe d'abonnement | 8.826,86 | EUR |
| Frais et commissions divers | 8.254,72 | EUR |
| Total | 241.386,45 | EUR |

| NOTE 4 - COMMISSIONS DE GESTION ET DE PERFORMANCE |
| --- |
| Commissions de gestion |
| La SICAV paie à la charge des compartiments, à la Société de Gestion, une rémunération consistant en une commission de gestion au taux annuel de: - 1,50% pour les compartiments Gold et Europe Selection;
- 1,60% pour les classes A USD, A CHF et A EUR pour le compartiment ODDO BHF Future of Food;
- 0,80% pour les classes B USD, B CHF et B EUR pour le compartiment ODDO BHF Future of Food;
- 0,50% pour les classes S46060 USD, S46060 CHF et S46060 EUR pour le compartiment ODDO BHF Future of Food;
- 0,95% pour la classe CNw-EUR [H] pour le compartiment ODDO BHF Future of Food.
 En sus, la SICAV paie à la Société de Gestion une commission annuelle au taux de 0,10% avec un minimum annuel de EUR 15.000. La société de gestion rétrocède une partie de cette commission aux gestionnaires et conseillers en investissements des différents compartiments. FINALTIS S.A.S., gestionnaire en investissement, perçoit de la Société de Gestion une commission annuelle au taux de 1,50% pour le compartiment Gold. FINALTIS S.A.S. et S.A COMGEST, co-gestionnaires en investissements, perçoivent de la Société de Gestion, une commission annuelle au taux de 1.50% pour le compartiment Europe Selection, avec un minimum de 180.000 EUR par an au profit exclusif de S.A. Comgest applicable à compter du 1er octobre 2023. Ces frais sont payables trimestriellement et calculés sur la moyenne des actifs nets de chaque compartiment ou classe pour le trimestre concerné. Commission de performance Une commission de performance au profit d'ODDO BHF (Suisse) SA, gestionnaire délégué, au taux de 20% est calculée sur les classes d'actions suivantes « CR CHF [H] », « CR EUR [H] », « CR USD », « CR CHF » et « CN EUR [H] » du compartiment ODDO BHF Future of Food (ex Best Selection in Food Industry) et l'indice de référence utilisé pour ce calcul de commission de performance est le MSCI All Countries World Net Return EUR Index, dividendes nets réinvestis (ticker NDUEACWF). Le taux de Commission de performance applicable est fixé à 20% pour les classes « CR CHF [H] », « CR EUR [H] », « CR USD », « CR CHF » et « CN EUR [H] » et l'indice de référence utilisé pour calculer la Commission de performance est le MSCI All Countries World Net Return EUR Index, dividendes nets réinvestis (ticker NDUEACWF, l' « Indice de référence »). Le Gestionnaire en investissements percevra la commission de performance à la fin de la période de calcul pour autant que la performance de la VNI de la classe d'actions concernée soit supérieure à celle de l'Indice de référence. La fréquence de cristallisation est annuelle et survient le dernier Jour ouvrable de l'année civile. Les classes d'actions mentionnées ci-dessus n'ont pas été lancé au 30 juin 2023. |

| NOTE 5 - COMMISSION DE BANQUE DÉPOSITAIRE |
| --- |
| La rémunération de la banque dépositaire et de l’agent de transfert est basée sur les actifs nets de la SICAV et est payable trimestriellement sur base d'un pourcentage appliqué individuellement sur les actifs nets moyens de chaque compartiment pendant le trimestre sous revue, le calcul s'effectuant sur la base des valorisations périodiques de l'actif net de chaque compartiment: - 0,040% sur la tranche d’actifs nets moyens comprise entre EUR 0 et EUR 35 millions;
- 0,030% sur la tranche d’actifs nets moyens comprise entre EUR 35 et EUR 125 millions;
- 0,020% sur les actifs nets supérieurs à EUR 125 millions. avec un minimum de EUR 10.000 par compartiment.
 |
| NOTE 6 - FRAIS DE SOUSCRIPTIONS ET RACHATS |
| Pour les compartiments EUROPE SELECTION et GOLD, les souscriptions sont traitées sur base de la valeur nette d’inventaire majorée d’un droit d’entrée de 2% maximum, et qui pourra être versée en tout ou en partie à des intermédiaires agréés. Pour le compartiment ODDO BHF Future of Food, les souscriptions sont traitées sur base de la valeur nette d’inventaire. Pour les compartiments EUROPE SELECTION, GOLD et ODDO BHF Future of Food, les rachats sont traités sur base de la valeur nette d’inventaire. |
| NOTE 7 - 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. La taxe d’abonnement n’est pas due sur les quotités d’actifs investis en OPC déjà soumis à l’application de cette taxe. Cependant, la SICAV étant enregistrée en Belgique, elle est soumise à une taxe au taux annuel de 0,0925% calculée pour l’année 2023 sur base de la valeur des actions distribuées en Belgique telle qu’établie au 31 décembre 2022. |
| NOTE 8 - COMMISSION DE COUVERTURE |
| Pour sa classe CNw-EUR [H], le compartiment ODDO BHF Future of Food verse à la Société de gestion une commission de couverture, en rémunération de ses services dans le cadre de son activité de couverture de change. Cette commission s'élève à 0,01% maximum par mois et par classe d'actions, sur la moyenne des actifs nets de chaque classe d'actions au cours du mois concerné. Cette commission est payable trimestriellement. |
| NOTE 9 - FRAIS D'ADMINISTRATION |
| La Société de Gestion paie une rémunération à Degroof Petercam Asset Services S.A. à charge de la SICAV. Agent domiciliataire: une commission d’un montant forfaitaire de EUR 2.500 par an par compartiment plus EUR 1.000 par an par compartiment par pays étranger où le compartiment est agréé à la commercialisation. Agent administratif: une commission annuelle, payable trimestriellement, au tarif dégressif par tranches d’actifs nets moyens de |

- 0,135% sur la tranche d’actifs nets comprise entre EUR 0 et EUR 125 millions;
- 0,105% sur les actifs nets supérieurs à EUR 125 millions; avec un minimum de EUR 33.750 par compartiment.


### NOTE 10 - CHANGES À TERME
Au 30 juin 2023, les contrats de change à terme suivants ont été conclus auprès de la contrepartie Banque Degroof Petercam Luxembourg S.A. :
GOLD :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  USD) | Engagement (en USD) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 31/07/2023 | EUR | 2.968.849,91 | USD | 3.250.000,00 | -5.747,04 | 3.239.015,25 |
| Total | -5.747,04 | 3.239.015,25 |

Au titre de ces contrats dérivés OTC, il n'y a pas de collatéral maintenu auprès de la contrepartie Banque Degroof Petercam Luxembourg S.A..
ODDO BHF Future of Food:
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  USD) | Engagement (en USD) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 14/07/2023 | EUR | 1.127.602,00 | USD | 1.220.471,30 | 10.595,11 | 1.230.213,78 |
| Total | 10.595,11 | 1.230.213,78 |

Au titre de ces contrats dérivés OTC, il n'y a pas de collatéral maintenu auprès de la contrepartie Banque Degroof Petercam Luxembourg S.A..

### NOTE 11 - EVÈNEMENT(S) SURVENU(S) PENDANT LA PÉRIODE
Depuis le 1er janvier 2023, la devise d’Oddo BHF Future of Food est devenue l'USD au lieu du CHF.

### NOTE 12 - EVÈNEMENT(S) POSTÉRIEUR(S) À LA PÉRIODE
Le Conseil d'Administration de la SICAV a décidé de procéder à la fusion des compartiments "Gold " et "Europe Selection" de la SICAV ("Compartiments Absorbés"), respectivement dans les compartiments "Gold" et Europe Selection" de la SICAV Finaltis Funds ("Compartiments Absorbeurs") avec effet au 4 juillet 2023, au ratio d’un pour un.
| Détermination du risque global |
| --- |
| Chaque compartiment de la SICAV devra veiller à ce que son exposition globale sur instruments financiers dérivés n’excède pas la valeur nette totale de son portefeuille. L’exposition globale 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 l’exposition globale de la SICAV sera celle des engagements. Cette méthode des engagements 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. |