# Candriam World Alternative Alphamax
| Investment portfolio as at March 31, 2021 |  |
| --- | --- |
| Description | Quantity | Currency | Market value (in EUR) | % net assets |
| Closed-ended funds |  |  |  |  |
| Cayman Islands |  |  | 0 | 0.00 |
| ABSOLUTE ACTIV VALUE LTD S EUR | 252 | EUR | 0 | 0.00 |
| ABSOLUTE OCTANE FD LTD S EUR | 1,419 | EUR | 0 | 0.00 |
| EUROPEAN CATALYST F LTD S EUR | 32,400 | EUR | 0 | 0.00 |
| THE ABSOLUTE RETU EUR FD S EUR | 1,168 | EUR | 0 | 0.00 |
| Total closed-ended funds |  |  | 0 | 0.00 |
| Closed-ended funds with side pocket |  |  |  |  |
| British Virgin Islands |  |  | 0 | 0.00 |
| DISCUS S NON US SP EUR 3378522 | 4,131 | EUR | 0 | 0.00 |
| DISCUS S NON US SP EUR 3378533 | 17,262 | EUR | 0 | 0.00 |
| DISCUS S NON US SP USD 3378500 | 531 | USD | 0 | 0.00 |
| DISCUS S NON US SP USD 3378522 | 527 | USD | 0 | 0.00 |
| Cayman Islands |  |  | 0 | 0.00 |
| SVRF OFFSHORE HOLDINGS LTD S V2 OC 1 | 27 | USD | 0 | 0.00 |
| Jersey |  |  | 0 | 0.00 |
| BENNELONG ASIA PACIFIC MS EQ CL S S05 | 446 | EUR | 0 | 0.00 |
| BENNELONG ASIA PAC MS CL-S4- | 117 | EUR | 0 | 0.00 |
| Total closed-ended funds with side pocket |  |  | 0 | 0.00 |
| Open-ended funds |  |  |  |  |
| British Virgin Islands |  |  | 11,411,646 | 6.02 |
| FARALLON CAPITAL OFF INVESTORS INC D | 262,506 | USD | 4,727,192 | 2.49 |
| STRATUS FUND LTD E 1.5 LEVERAGE | 1,172 | EUR | 6,684,454 | 3.53 |
| Cayman Islands |  |  | 139,219,325 | 73.43 |
| ALPSTONE GBL MAC LTD A S01118 USD | 2,222 | USD | 1,776,885 | 0.93 |
| ALPSTONE GLOBAL MACRO CLASS A S 10 2019 | 3,500 | USD | 2,473,371 | 1.31 |
| ALVENTO LS EQ FD B EUR 2020 07 | 815 | EUR | 800,875 | 0.42 |
| ALVENTO LS EQ B EUR-1 UNREST | 2,460 | EUR | 2,906,491 | 1.53 |
| ATHANOR INTL LTD A NR S1 0619 | 5,000 | USD | 3,846,640 | 2.03 |
| ATHANOR INTL LTD A NR S3 0819 | 2,413 | USD | 1,753,600 | 0.93 |
| AUTONOMY GLB MACRO FD LTD GNL SERIES | 12,829 | USD | 2,316,844 | 1.22 |
| AXONIC CREDIT OP VOTG 111 0320 | 1,273 | USD | 1,025,749 | 0.54 |
| AXONIC CT OPP OVER FD VOT02 20 | 1,175 | USD | 1,199,566 | 0.63 |
| BLACKROCK STRATEGIC EQUITY | 13,684 | EUR | 5,938,788 | 3.13 |
| BREVAN HOWARD FD LTD CL I EUR | 59,210 | EUR | 7,854,766 | 4.14 |
| CANYON VAL REAL CL A S INI 2 | 623 | USD | 5,283,846 | 2.79 |
| CAPULA GLOBAL RELATIVE VALUE FUND H ACC | 18,098 | EUR | 2,068,390 | 1.09 |
| CAPULA GLB RA LTD -E- EUR | 44,926 | EUR | 11,722,535 | 6.18 |
| DE SHAW OCULUS INTERNATIONAL FD ALPHAMAX | 6,441 | USD | 5,480,723 | 2.89 |
| DORSAL CAPITAL PARTNERS LTD A S062015 | 1,650 | USD | 2,810,960 | 1.48 |
| EDGESTREAM EXT TAC A M 2001 A4 | 6,977 | USD | 4,882,843 | 2.58 |
| EDGESTREAM EXT TAC A M 2003 A4 | 599 | USD | 416,646 | 0.22 |
| ENCOMPASS CAPITAL FD OFF A CL 2 SR 1 UNR | 2,142 | USD | 4,065,106 | 2.14 |
| HARVEST SMALL CAP OFFSHORE LTD D 0108 | 1,893 | USD | 4,860,650 | 2.57 |
| HENGISTBURY FUND LTD A NOV 12 EUR | 13,763 | EUR | 2,071,739 | 1.09 |
| HONEYCOMB OFF LTD CL A 45 ELIG | 1,225 | USD | 1,075,224 | 0.57 |
| HONEYCOMB OFFS FD CL A S1 ELIGIBLE USD | 1,585 | USD | 3,078,559 | 1.62 |
| KCL CAP OFF FD B S I000191725 | 4,403 | USD | 4,291,142 | 2.26 |

Candriam World Alternative Alphamax
| Investment portfolio as at March 31, 2021 |  |  |  |  |
| --- | --- | --- | --- | --- |
| Description | Quantity | Currency | Market value (in EUR) | % net assets |
| LANSDOWNE ENE DYN FD CL B NR EUR VOT SHS | 20,956 | EUR | 3,818,829 | 2.02 |
| LMR ALPHA RATES TRADG LTD B S10 | 46,531 | EUR | 7,676,452 | 4.05 |
| LMR FUND LTD E NON REST S1 | 33,708 | EUR | 6,463,109 | 3.41 |
| LMR FUND LTD E NON REST S2 | 8,348 | EUR | 926,578 | 0.49 |
| LMR FUND LTD E NON REST S7 | 4,360 | EUR | 437,831 | 0.23 |
| MASSAR M C TR B SUB TR 1 02.21 | 2,309 | USD | 2,040,861 | 1.08 |
| MILLENNIUM INTL -EE- EUR S.01A NEW ISSUE | 1,189 | EUR | 3,082,206 | 1.63 |
| RED CLIFF ASIA FUND A | 39,467 | EUR | 3,770,215 | 1.99 |
| SELIGMAN TECH SPECTRUM OFF B1 0515 | 26,434 | EUR | 5,219,491 | 2.75 |
| SELWOOD AM CREDIT FUND CLASS B EURACC | 22,409 | EUR | 2,865,932 | 1.51 |
| SRS PARTNERS LTD A 1 S1 INIT | 456 | USD | 1,715,013 | 0.91 |
| SRS PARTNERS LTD B 1A S1 | 1,203 | USD | 4,591,641 | 2.42 |
| TACONIC OPP FD M NR S 123980 | 7,183 | EUR | 8,745,993 | 4.61 |
| TT MID CAP EUROPE LONG/SHORT PTG RED -A- | 7,021 | EUR | 3,863,236 | 2.04 |
| Ireland |  |  | 9,263,226 | 4.89 |
| ABCA OPPORTUNITIES A JAN 20 | 909 | EUR | 2,034,054 | 1.07 |
| ABCA OPPORTUNITIES FUND A JUN 20 EUR | 720 | EUR | 1,608,991 | 0.85 |
| AKO GLOBAL UCITS B2 EUR | 13,724 | EUR | 2,602,758 | 1.38 |
| KLS ARETE MACRO I EUR ACC | 25,970 | EUR | 3,017,423 | 1.59 |
| Luxembourg |  |  | 18,012,941 | 9.50 |
| BRSF GLOBAL EVENT DRIVEN FUND D2 CAP HGD | 9,307 | EUR | 1,105,113 | 0.58 |
| GIM PSF LONG SHORT FUND A042012 CAP EUR | 11,782 | EUR | 2,464,445 | 1.30 |
| HELLEBORE CREDIT ARBITRAGE B EUR | 719 | EUR | 5,660,601 | 2.99 |
| PICTET TR SICAV MANDARIN HI EUR | 17,828 | EUR | 3,054,114 | 1.61 |
| SERV PLTF SEL EQ LS UCITS -I- | 17,887 | EUR | 3,890,680 | 2.05 |
| SCHRODER GAIA TWO SIG DVF C EUR HGD CAP | 17,902 | EUR | 1,837,988 | 0.97 |
| Total open-ended funds |  |  | 177,907,138 | 93.84 |
| Open-ended funds with side pocket |  |  |  |  |
| Cayman Islands |  |  | 6,730,073 | 3.55 |
| TAL CHINA FOCUS FD CL A DI 1 USD | 1,729 | USD | 139,664 | 0.07 |
| TAL CHINA FOCUS FD CL A DI 2 USD | 692 | USD | 165,253 | 0.09 |
| TAL CHINA FOCUS FD CLASS A USD | 14,428 | USD | 6,425,156 | 3.39 |
| Total open-ended funds with side pocket |  |  | 6,730,073 | 3.55 |
| Total investment portfolio |  |  | 184,637,211 | 97.39 |
| Acquisition cost |  |  | 152,962,025 |  |

Candriam World Alternative Alphamax Geographical and economic breakdown of investments as at March 31, 2021
| Geographical breakdown (in % of net assets) |  |
| --- | --- |
| Cayman Islands | 76.98 |
| Luxembourg | 9.50 |
| British Virgin Islands | 6.02 |
| Ireland | 4.89 |
| Jersey | 0.00 |
|  | 97.39 |
| Economic breakdown (in % of net assets) |  |
| Investment funds | 97.39 |
|  | 97.39 |

Translation (ENFR, 2021-03-31):
# Candriam World Alternative Alphamax
| Portefeuille-titres au 31 mars 2021 |  |
| --- | --- |
| Dénomination | Quantité | Devise | Valeur d'évaluation | % actifs |
|  |  |  | (en EUR) | nets |
| Fonds fermés |  |  |  |  |
| Caïmanes, Îles |  |  | 0 | 0,00 |
| ABSOLUTE ACTIV VALUE LTD S EUR | 252 | EUR | 0 | 0,00 |
| ABSOLUTE OCTANE FD LTD S EUR | 1.419 | EUR | 0 | 0,00 |
| EUROPEAN CATALYST F LTD S EUR | 32.400 | EUR | 0 | 0,00 |
| THE ABSOLUTE RETU EUR FD S EUR | 1.168 | EUR | 0 | 0,00 |
| Total fonds fermés |  |  | 0 | 0,00 |
| Fonds fermés avec side pocket |  |  |  |  |
| Îles Vierges Britanniques |  |  | 0 | 0,00 |
| DISCUS S NON US SP EUR 3378522 | 4.131 | EUR | 0 | 0,00 |
| DISCUS S NON US SP EUR 3378533 | 17.262 | EUR | 0 | 0,00 |
| DISCUS S NON US SP USD 3378500 | 531 | USD | 0 | 0,00 |
| DISCUS S NON US SP USD 3378522 | 527 | USD | 0 | 0,00 |
| Caïmanes, Îles |  |  | 0 | 0,00 |
| SVRF OFFSHORE HOLDINGS LTD S V2 OC 1 | 27 | USD | 0 | 0,00 |
| Jersey |  |  | 0 | 0,00 |
| BENNELONG ASIA PACIFIC MS EQ CL S S05 | 446 | EUR | 0 | 0,00 |
| BENNELONG ASIA PAC MS CL-S4- | 117 | EUR | 0 | 0,00 |
| Total fonds fermés avec side pocket |  |  | 0 | 0,00 |
| Fonds ouverts |  |  |  |  |
| Îles Vierges Britanniques |  |  | 11.411.646 | 6,02 |
| FARALLON CAPITAL OFF INVESTORS INC D | 262.506 | USD | 4.727.192 | 2,49 |
| STRATUS FUND LTD E 1.5 LEVERAGE | 1.172 | EUR | 6.684.454 | 3,53 |
| Caïmanes, Îles |  |  | 139.219.325 | 73,43 |
| ALPSTONE GBL MAC LTD A S01118 USD | 2.222 | USD | 1.776.885 | 0,93 |
| ALPSTONE GLOBAL MACRO CLASS A S 10 2019 | 3.500 | USD | 2.473.371 | 1,31 |
| ALVENTO LS EQ FD B EUR 2020 07 | 815 | EUR | 800.875 | 0,42 |
| ALVENTO LS EQ B EUR-1 UNREST | 2.460 | EUR | 2.906.491 | 1,53 |
| ATHANOR INTL LTD A NR S1 0619 | 5.000 | USD | 3.846.640 | 2,03 |
| ATHANOR INTL LTD A NR S3 0819 | 2.413 | USD | 1.753.600 | 0,93 |
| AUTONOMY GLB MACRO FD LTD GNL SERIES | 12.829 | USD | 2.316.844 | 1,22 |
| AXONIC CREDIT OP VOTG 111 0320 | 1.273 | USD | 1.025.749 | 0,54 |
| AXONIC CT OPP OVER FD VOT02 20 | 1.175 | USD | 1.199.566 | 0,63 |
| BLACKROCK STRATEGIC EQUITY | 13.684 | EUR | 5.938.788 | 3,13 |
| BREVAN HOWARD FD LTD CL I EUR | 59.210 | EUR | 7.854.766 | 4,14 |
| CANYON VAL REAL CL A S INI 2 | 623 | USD | 5.283.846 | 2,79 |
| CAPULA GLOBAL RELATIVE VALUE FUND H ACC | 18.098 | EUR | 2.068.390 | 1,09 |
| CAPULA GLB RA LTD -E- EUR | 44.926 | EUR | 11.722.535 | 6,18 |
| DE SHAW OCULUS INTERNATIONAL FD ALPHAMAX | 6.441 | USD | 5.480.723 | 2,89 |
| DORSAL CAPITAL PARTNERS LTD A S062015 | 1.650 | USD | 2.810.960 | 1,48 |
| EDGESTREAM EXT TAC A M 2001 A4 | 6.977 | USD | 4.882.843 | 2,58 |
| EDGESTREAM EXT TAC A M 2003 A4 | 599 | USD | 416.646 | 0,22 |
| ENCOMPASS CAPITAL FD OFF A CL 2 SR 1 UNR | 2.142 | USD | 4.065.106 | 2,14 |
| HARVEST SMALL CAP OFFSHORE LTD D 0108 | 1.893 | USD | 4.860.650 | 2,57 |
| HENGISTBURY FUND LTD A NOV 12 EUR | 13.763 | EUR | 2.071.739 | 1,09 |
| HONEYCOMB OFF LTD CL A 45 ELIG | 1.225 | USD | 1.075.224 | 0,57 |
| HONEYCOMB OFFS FD CL A S1 ELIGIBLE USD | 1.585 | USD | 3.078.559 | 1,62 |
| KCL CAP OFF FD B S I000191725 | 4.403 | USD | 4.291.142 | 2,26 |

Candriam World Alternative Alphamax
| Investment portfolio as at March 31, 2021 |  |  |  |  |
| --- | --- | --- | --- | --- |
| Dénomination | Quantité | Devise | Valeur d'évaluation (en EUR) | % actifs nets |
| LANSDOWNE ENE DYN FD CL B NR EUR VOT SHS | 20.956 | EUR | 3.818.829 | 2,02 |
| LMR ALPHA RATES TRADG LTD B S10 | 46.531 | EUR | 7.676.452 | 4,05 |
| LMR FUND LTD E NON REST S1 | 33.708 | EUR | 6.463.109 | 3,41 |
| LMR FUND LTD E NON REST S2 | 8.348 | EUR | 926.578 | 0,49 |
| LMR FUND LTD E NON REST S7 | 4.360 | EUR | 437.831 | 0,23 |
| MASSAR M C TR B SUB TR 1 02.21 | 2.309 | USD | 2.040.861 | 1,08 |
| MILLENNIUM INTL -EE- EUR S.01A NEW ISSUE | 1.189 | EUR | 3.082.206 | 1,63 |
| RED CLIFF ASIA FUND A | 39.467 | EUR | 3.770.215 | 1,99 |
| SELIGMAN TECH SPECTRUM OFF B1 0515 | 26.434 | EUR | 5.219.491 | 2,75 |
| SELWOOD AM CREDIT FUND CLASS B EURACC | 22.409 | EUR | 2.865.932 | 1,51 |
| SRS PARTNERS LTD A 1 S1 INIT | 456 | USD | 1.715.013 | 0,91 |
| SRS PARTNERS LTD B 1A S1 | 1.203 | USD | 4.591.641 | 2,42 |
| TACONIC OPP FD M NR S 123980 | 7.183 | EUR | 8.745.993 | 4,61 |
| TT MID CAP EUROPE LONG/SHORT PTG RED -A- | 7.021 | EUR | 3.863.236 | 2,04 |
| Irlande |  |  | 9.263.226 | 4,89 |
| ABCA OPPORTUNITIES A JAN 20 | 909 | EUR | 2.034.054 | 1,07 |
| ABCA OPPORTUNITIES FUND A JUN 20 EUR | 720 | EUR | 1.608.991 | 0,85 |
| AKO GLOBAL UCITS B2 EUR | 13.724 | EUR | 2.602.758 | 1,38 |
| KLS ARETE MACRO I EUR ACC | 25.970 | EUR | 3.017.423 | 1,59 |
| Luxembourg |  |  | 18.012.941 | 9,50 |
| BRSF GLOBAL EVENT DRIVEN FUND D2 CAP HGD | 9.307 | EUR | 1.105.113 | 0,58 |
| GIM PSF LONG SHORT FUND A042012 CAP EUR | 11.782 | EUR | 2.464.445 | 1,30 |
| HELLEBORE CREDIT ARBITRAGE B EUR | 719 | EUR | 5.660.601 | 2,99 |
| PICTET TR SICAV MANDARIN HI EUR | 17.828 | EUR | 3.054.114 | 1,61 |
| SERV PLTF SEL EQ LS UCITS -I- | 17.887 | EUR | 3.890.680 | 2,05 |
| SCHRODER GAIA TWO SIG DVF C EUR HGD CAP | 17.902 | EUR | 1.837.988 | 0,97 |
| Total fonds ouverts |  |  | 177.907.138 | 93,84 |
| Fonds ouverts avec side pocket |  |  |  |  |
| Caïmanes, Îles |  |  | 6.730.073 | 3,55 |
| TAL CHINA FOCUS FD CL A DI 1 USD | 1.729 | USD | 139.664 | 0,07 |
| TAL CHINA FOCUS FD CL A DI 2 USD | 692 | USD | 165.253 | 0,09 |
| TAL CHINA FOCUS FD CLASS A USD | 14.428 | USD | 6.425.156 | 3,39 |
| Total fonds ouverts avec side pocket |  |  | 6.730.073 | 3,55 |
| Total du portefeuille-titres |  |  | 184.637.211 | 97,39 |
| Coût d'acquisition |  |  | 152.962.025 |  |

Candriam World Alternative Alphamax Répartition géographique et économique du portefeuille-titres au 31 mars 2021
| Répartition géographique (en % des actifs nets) |  |
| --- | --- |
| Caïmanes, Îles | 76,98 |
| Luxembourg | 9,50 |
| Îles Vierges Britanniques | 6,02 |
| Irlande | 4,89 |
| Jersey | 0,00 |
|  | 97,39 |
| Répartition économique (en % des actifs nets) |  |
| Fonds d'investissement | 97,39 |
|  | 97,39 |