# Statement of changes in net assets for the period ended March 31, 2021
|  |  | Candriam World Alternative C Absolute Return | Candriam World Alternative Alphamax | Combined |
| --- | --- | --- | --- | --- |
|  |  | EUR | EUR | EUR |
| Net assets at the beginning of the period |  | 48,422,035 | 191,247,546 | 239,669,581 |
| Expenses |  |  |  |  |
| Management fees | 3 | 135,227 | 820,992 | 956,220 |
| Administration fees | 5 | 14,039 | 45,215 | 59,254 |
| Central Administration's fees |  | 3,120 | 0 | 3,120 |
| Legal Fund Engineering fees |  | 10,919 | 45,215 | 56,135 |
| Performance fees | 7 | 182,679 | 285,746 | 468,425 |
| Distribution fees | 4 | 157 | 97,078 | 97,235 |
| Subscription tax | 8 | 2,539 | 28,881 | 31,420 |
| Audit fees, printing and publishing expenses |  | 11,939 | 22,760 | 34,699 |
| Transaction costs | 2f | 555 | 1,950 | 2,505 |
| Bank interest |  | 14,801 | 29,282 | 44,082 |
| Other expenses |  | 1,838 | 2,686 | 4,524 |
| Total expenses |  | 363,774 | 1,334,590 | 1,698,365 |
| Net income / (loss) from investments |  | (362,960) | (1,329,460) | (1,692,420) |
| Net realised gain / (loss) on sales of investments | 2b | 1,272,386 | 3,865,327 | 5,137,713 |
| Net realised gain / (loss) on forward foreign exchange contracts | 2e | 213,547 | 615,187 | 828,734 |
| Net realised gain / (loss) on foreign exchange |  | (267,864) | (556,001) | (823,865) |
| Net realised gain / (loss) |  | 854,295 | 2,589,923 | 3,444,218 |

Statement of changes in net assets for the period ended March 31, 2021
|  |  | Candriam World Alternative C Absolute Return | Candriam World Alternative Alphamax | Combined |
| --- | --- | --- | --- | --- |
|  |  | EUR | EUR | EUR |
| Change in net unrealised appreciation / depreciation on investments | 2b | 2,077,462 | 7,115,207 | 9,192,669 |
| Change in net unrealised appreciation / depreciation on forward foreign exchange contracts | 2e | (432,134) | (951,685) | (1,383,819) |
| Net increase / (decrease) in net assets as a result of operations |  | 2,499,622 | 8,753,445 | 11,253,067 |
| Evolution of the capital |  |  |  |  |
| Subscriptions of shares |  | 0 | 1,058,597 | 1,058,597 |
| Redemptions of shares |  | 0 | (11,475,245) | (11,475,245) |
| Net assets at the end of the period |  | 50,921,658 | 189,584,342 | 240,506,000 |

Translation (ENFR, 2021-03-31):
# Etat des variations des actifs nets pour la période clôturée au 31 mars 2021
|  |  | Candriam World Alternative C Absolute Return | Candriam World Alternative Alphamax | Combiné |
| --- | --- | --- | --- | --- |
|  |  | EUR | EUR | EUR |
| Actifs nets au début de la période |  | 48.422.035 | 191.247.546 | 239.669.581 |
| Frais |  |  |  |  |
| Commissions de gestion | 3 | 135.227 | 820.992 | 956.220 |
| Commissions d'administration | 5 | 14.039 | 45.215 | 59.254 |
| Commissions d'Administration Centrale |  | 3.120 | 0 | 3.120 |
| Commissions de "Legal Fund Engineering" |  | 10.919 | 45.215 | 56.135 |
| Commissions de performance | 7 | 182.679 | 285.746 | 468.425 |
| Commissions de distribution | 4 | 157 | 97.078 | 97.235 |
| Taxe d'abonnement | 8 | 2.539 | 28.881 | 31.420 |
| Frais de révision, d'impression et de publication |  | 11.939 | 22.760 | 34.699 |
| Coûts de transaction | 2f | 555 | 1.950 | 2.505 |
| Intérêts bancaires |  | 14.801 | 29.282 | 44.082 |
| Autres frais |  | 1.838 | 2.686 | 4.524 |
| Total des frais |  | 363.774 | 1.334.590 | 1.698.365 |
| Revenus / (Pertes) net(te)s des investissements |  | (362.960) | (1.329.460) | (1.692.420) |
| Bénéfice / (Perte) net(te) réalisé(e) sur ventes d'investissements | 2b | 1.272.386 | 3.865.327 | 5.137.713 |
| Bénéfice / (Perte) net(te) réalisé(e) sur contrats de change à terme | 2e | 213.547 | 615.187 | 828.734 |
| Bénéfice / (Perte) de change, net(te) |  | (267.864) | (556.001) | (823.865) |
| Bénéfice / (Perte) net(te) réalisé(e) |  | 854.295 | 2.589.923 | 3.444.218 |

| Etat des variations des actifs nets pour la période clôturée au | 31 mars 2021 |  |
| --- | --- | --- |
|  | Candriam World | Candriam World | Combiné |
|  | Alternative C | Alternative Alphamax |  |
|  | Absolute Return |  |  |
|  | EUR | EUR | EUR |
| Variation de la plus-value / moins-value nette non réalisée sur	2b investissements | 2.077.442 | 7.115.207 | 9.192.669 |
| Variation de la plus-value / moins-value nette non réalisée sur	2e | (432.134) | (951.685) | (1.383.819) |
| contrats de change à terme |  |  |  |
| Augmentation / (diminution) nette des actifs nets provenant des opérations | 2.499.622 | 8.753.445 | 11.253.067 |
| Evolution du capital |  |  |  |
| Souscriptions d'actions | 0 | 1.058.597 | 1.058.597 |
| Rachats d'actions | 0 | (11.475.245) | (11.475.245) |
| Actifs nets à la fin de la période | 50.921.658 | 189.584.342 | 240.506.000 |