# CARMIGNAC PORTFOLIO
## Credit (formerly Unconstrained Credit)

#### Financial Statements as at 30/06/21

###### Statement of net assets as at 30/06/21
Expressed in EUR
| Assets | 1,206,330,121.91 |
| --- | --- |
| Securities portfolio at market value | 1,029,329,336.93 |
| Cost price | 989,148,405.23 |
| Unrealised profit on the securities portfolio | 40,180,931.70 |
| Options purchased at market value | 630,530.45 |
| Options purchased at cost | 2,356,742.25 |
| Cash at banks and liquidities | 78,558,586.41 |
| Interest receivable | 9,833,472.42 |
| Brokers receivable | 57,397,678.84 |
| Subscriptions receivable | 30,580,516.86 |
| Liabilities | 124,473,218.47 |
| Options sold at market value | 238,424.11 |
| Options sold at cost | 1,092,316.65 |
| Bank overdrafts | 642,122.00 |
| Brokers payable | 82,655,788.28 |
| Redemptions payable | 681,138.62 |
| Unrealised net depreciation on forward foreign exchange contracts | 7,674,295.90 |
| Unrealised net depreciation on financial futures | 1,064,110.07 |
| Unrealised net depreciation on swaps | 28,820,131.58 |
| Other liabilities | 2,697,207.91 |
| Net asset value | 1,081,856,903.44 |


###### Key figures relating to the last 3 years
|  | Period ending as at: | 30/06/21 | 31/12/20 | 31/12/19 |
| --- | --- | --- | --- | --- |
| Total Net Assets | EUR | 1,081,856,903.44 | 668,980,707.36 | 302,689,899.13 |
| Class A EUR - Capitalisation Number of shares |  | 2,007,212 | 957,042 | 424,196 |
| Net asset value per share | EUR | 142.08 | 138.18 | 125.17 |
| Class Income A EUR - Distribution Number of shares |  | 38,944 | 17,651 | 6,683 |
| Net asset value per share | EUR | 129.79 | 127.82 | 118.68 |
| Class A CHF Hedged - Capitalisation Number of shares |  | 28,475 | 11,600 | 1,000 |
| Net asset value per share | CHF | 114.75 | 111.76 | 101.60 |
| Class A USD Hedged - Capitalisation Number of shares |  | 203,540 | 145,356 | 107,111 |
| Net asset value per share | USD | 150.54 | 145.99 | 130.45 |
| Class F EUR - Capitalisation Number of shares |  | 2,393,085 | 1,785,218 | 1,262,280 |
| Net asset value per share | EUR | 138.05 | 134.00 | 120.91 |
| Class F CHF Hedged - Capitalisation Number of shares |  | 63,424 | 12,143 | 10,092 |
| Net asset value per share | CHF | 115.48 | 112.31 | 101.71 |

| Period ending as at: | 30/06/21 | 31/12/20 | 31/12/19 |
| --- | --- | --- | --- |
| t Assets	 EUR Class F USD Hedged - Capitalisation | 1,081,856,903.44 | 668,980,707.36 | 302,689,899.13 |

Key figures relating to the last 3 years
Total Ne
| Number of shares |  | 167,852 | 126,980 | 60,275 |
| --- | --- | --- | --- | --- |
| Net asset value per share | USD | 119.19 | 115.40 | 102.75 |
| Class W EUR - Capitalisation Number of shares |  | 2,727,791 | 1,807,783 | 598,401 |
| Net asset value per share | EUR | 148.33 | 143.72 | 128.82 |
| Class W CHF Hedged - Capitalisation Number of shares |  | 40,346 | 35,104 | 1,000 |
| Net asset value per share | CHF | 116.58 | 113.15 | 101.84 |

Quantity	Denomination	Quotation
| sferable securities admitted to an official stock exchan | ge listing	 990,398,184.58 | 91.54 |
| --- | --- | --- |
| Bonds | 626,113,048.42 | 57.86 |

currency
Market value	% of net
assets
Tran
| Bermuda | 15,747,571.95 | 1.46 |
| --- | --- | --- |
| 9,264,000 GEOPARK LTD	5.5000 20-27 17/01S	USD | 7,942,050.09 | 0.74 |
| 16,513,798 SEADRILL NEW FINANCE LTD 12.00 18-25 15/07S	USD | 7,805,521.86 | 0.72 |
| Brazil |  | 2,543,161.35 | 0.24 |
| 3,048,000 BRAZIL 3.75 21-31 12/09S | USD | 2,543,161.35 | 0.24 |
| British Virgin Islands | 1,833,240.21 | 0.17 |
| 777,000 ARCOS DOR HDGS REGS 5.875 17-27 04/04S	USD | 692,528.52 | 0.06 |
| 2,000,000 HUARONG FINANCE 4.95 17-47 07/11S	USD | 1,140,711.69 | 0.11 |
| Canada | 3,130,976.57 | 0.29 |
| 1,150,000 CANACOL ENERGY LTD 7.25 18-25 03/05S | USD | 1,034,466.65 | 0.10 |
| 8,572,443 STONEWAY CAPITAL CORP 10.00 17-27 01/03S | USD | 2,096,509.92 | 0.19 |
| Cayman Islands | 33,273,048.56 | 3.08 |
| 3,250,000 BCO DO BRASIL CAYMAN 9.00 14-XX 18/12S | USD | 3,058,847.71 | 0.28 |
| 1,500,000 ESIC SUKUK LTD 3.939  19-24 30/07S | USD | 1,325,259.30 | 0.12 |
| 3,500,000 GEMS MENASA 7.125	19-26 31/07S	USD | 3,063,805.97 | 0.28 |
| 11,237,000 OFFSHORE GROUP INVES 9.25 18-23 15/11S | USD | 8,184,048.10 | 0.77 |
| 5,085,000 PERSHING SQUARE INT 3.25 20-30 15/11S | USD | 4,359,125.78 | 0.40 |
| 5,900,000 SHELF DRILL HOLD LTD 8.25 18-25 15/02S | USD | 3,977,940.59 | 0.37 |
| 7,001,000 SHELF DRILL HOLD LTD 8.875 21-24 15/11S | USD | 6,103,917.40 | 0.56 |
| 3,800,000 STONECO LTD	3.95 21-28 16/06S | USD | 3,200,103.71 | 0.30 |
| Chile |  | 7,614,938.03 | 0.70 |
| 9,000,000 CAP S.A.	3.9 21-31 27/04S | USD | 7,614,938.03 | 0.70 |
| Czech Republic | 6,803,927.50 | 0.63 |
| 5,000,000 SAZKA GROUP AS | 3.875 20-27 15/02S | EUR | 5,061,725.00 | 0.47 |
| 1,700,000 SAZKA GROUP AS | 4.1250 19-24 20/11S | EUR | 1,742,202.50 | 0.16 |
| Finland |  |  | 14,834,653.70 | 1.37 |
| 9,715,000 FINNAIR OYJ | 4.2500 21-25 19/05S | EUR | 9,930,478.70 | 0.92 |
| 5,000,000 SBB TREASURY OYJ 0.75 20-28 14/12A	EUR | 4,904,175.00 | 0.45 |
| France | 37,914,162.64 | 3.50 |
| 4,000,000 ALTICE FRANCE SA 4.0 21-29 15/07S | EUR | 3,986,720.00 | 0.37 |
| 3,500,000 COMP GLE GEOPHYSIQUE 7.75 21-27 01/04S | EUR | 3,632,160.00 | 0.34 |
| 2,000,000 COMP GLE GEOPHYSIQUE 8.75 21-27 01/04S | USD | 1,745,678.39 | 0.16 |
| 3,050,000 GETLINK SE	3.50 20-25 30/10S	EUR | 3,171,313.75 | 0.29 |
| 600,000 IPSOS	2.875 18-25 21/09A	EUR | 642,984.00 | 0.06 |
| 2,800,000 JC DECAUX	2.625 20-28 24/04A	EUR | 3,124,338.00 | 0.29 |
| 2,500,000 MACIF 0.625 21-27 21/06A | EUR | 2,487,737.50 | 0.23 |
| 4,000,000 MACIF 2.125 21-52 21/06A | EUR | 4,039,860.00 | 0.37 |
| 6,200,000 ORPEA SA 2.00 21-28 01/04A | EUR | 6,280,941.00 | 0.58 |
| 3,500,000 PEUGEOT INVEST SA 1.8750 19-26 30/10A | EUR | 3,685,605.00 | 0.34 |
| 2,000,000 TIKEHAU CAPITAL SCA 1.625 21-29 31/03A | EUR | 1,975,510.00 | 0.18 |
| 3,000,000 TIKEHAU CAPITAL SCA 2.25 19-26 14/10A | EUR | 3,141,315.00 | 0.29 |
| Germany |  | 4,160,980.00 | 0.38 |
| 4,000,000 TUI CRUISES GMB  6.5000 21-26 15/05S | EUR | 4,160,980.00 | 0.38 |
| India |  | 3,287,607.72 | 0.30 |
| 1,000,000 JSW HYDRO ENERGY LTD 4.125 21-31 18/05S | USD | 856,547.77 | 0.08 |
| 800,000 RENEW POWER SYNTHETIC 6.67 19-24 12/03S | USD | 710,316.21 | 0.07 |
| 2,000,000 10 RENEW POWER SUBS 4.5 21-28 14/07S	USD | 1,720,743.74 | 0.15 |
| Indonesia | 8,967,101.32 | 0.83 |
| 4,338,000 INDOFOOD CBP SUKSES 3.398 21-31 09/06S | USD | 3,708,479.71 | 0.34 |
| 6,125,000 PT TOWER BERSAMA INF 2.75 21-26 20/01S | USD | 5,258,621.61 | 0.49 |
| Ireland | 34,473,379.82 | 3.19 |
| 1,300,000 ASG FINANCE	7.875 19-24 03/12S	USD | 1,072,454.24 | 0.10 |
| 2,973,000 DAA FINANCE PLC	1.601 20-32 05/11A	EUR | 3,160,373.33 | 0.29 |
| 8,523,000 DME AIRPORT	5.35 21-28 08/02S	USD | 7,537,418.08 | 0.70 |
| 1,050,000 JAMES HARDIE INTL 3.625 18-26 01/10S | EUR | 1,076,922.00 | 0.10 |
| 4,697,000 RYANAIR DAC	2.875 20-25 15/09A | EUR | 5,145,187.74 | 0.48 |
| 16,029,000 SCF CAPITAL LTD	3.85 21-28 26/04S | USD | 13,971,613.85 | 1.29 |
| 3,000,000 ZURICH FINANCE IRELAND 3.00 21-51 19/04A | USD | 2,509,410.58 | 0.23 |
| Italy | 15,397,007.20 | 1.42 |
| 3,000,000 ANIMA HOLDING S.P.A. 1.75 19-26 23/10A	EUR | 3,092,430.00 | 0.29 |
| 2,000,000 EXOR NV	2.25 20-30 29/04A	EUR | 2,224,930.00 | 0.21 |
| 10,080,000 POSTE ITALIANE	2.6250 21-49 31/12A	EUR | 10,079,647.20 | 0.92 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| Jersey Island |  |  | 3,510,152.02 | 0.32 |
| --- | --- | --- | --- | --- |
| 3,000,000 GATWICK FUNDING | 2.5000 21-30 15/04A | GBP | 3,510,152.02 | 0.32 |
| Luxembourg |  |  | 58,985,813.56 | 5.45 |
| 2,450,000 AEGEA FINANCE SARL 5.75 17-24 10/10S | USD | 2,139,437.35 | 0.20 |
| 1,577,000 ALROSA FINANCE SA 4.65 19-24 09/04S | USD | 1,439,812.04 | 0.13 |
| 3,000,000 ALTICE FRANCE HOLDING 4.0 20-28 15/02S | EUR | 2,887,815.00 | 0.27 |
| 8,650,000 ALTICE FRANCE HOLDING 8.0 19-27 15/05S | EUR | 9,347,406.25 | 0.85 |
| 5,000,000 BK LC LUX FINCO1  5.25 21-29 30/04S | EUR | 5,125,825.00 | 0.47 |
| 6,000,000 B2W DIGITAL LUX SARL 4.375 20-30 20/12S | USD | 5,062,635.98 | 0.47 |
| 8,000,000 CPI PROPERTY GROUP 3.75 21-99 31/12A | EUR | 7,868,720.00 | 0.73 |
| 3,770,000 JSM GLOBAL SARL	4.75 20-30 20/10S | USD | 3,306,864.45 | 0.31 |
| 800,000 MILLICOM INTL CELL 4.50 20-31 27/04S | USD | 703,425.25 | 0.07 |
| 1,200,000 MOTION BONDCO DAC  4.5 19-27 15/11S | EUR | 1,175,526.00 | 0.11 |
| 2,670,000 MOTION FINCO SARL  7.00 20-25 15/05S | EUR | 2,830,814.10 | 0.26 |
| 6,595,000 MOVIDA EUROPE	5.25 21-31 08/02S | USD | 5,616,677.71 | 0.52 |
| 4,750,000 REDE D OR FIN SARL  4.5 20-30 22/01S | USD | 4,104,269.97 | 0.38 |
| 3,000,000 REDE D'OR FIN SARL  4.95 18-28 17/01S | USD | 2,699,026.06 | 0.25 |
| 5,150,000 ULTRAPAR INTL 5.25 19-29 06/06S | USD | 4,677,558.40 | 0.43 |
| Malaysia |  | 4,213,930.35 | 0.39 |
| 5,000,000 GENM CAPITAL LABUAN 3.882 21-31 19/04S | USD | 4,213,930.35 | 0.39 |
| Mauritius |  | 2,985,779.75 | 0.28 |
| 1,700,000 BAYPORT MANAGEMENT  11.5 19-20 14/12S | USD | 1,410,464.71 | 0.13 |
| 1,833,000 CLEAN REN POWER MAUR 4.25 21-27 25/03S | USD | 1,575,315.04 | 0.15 |
| Mexico |  | 4,544,548.44 | 0.42 |
| 3,000,000 BANCO SANTANDER 5.375 20-25 17/04S | USD | 2,876,448.27 | 0.27 |
| 1,800,000 GFB  5.875	19-34 13/09S | USD | 1,668,100.17 | 0.15 |
| Nigeria |  | 1,762,003.54 | 0.16 |
| 2,000,000 SEPLAT ENERGY PLC  7.75 21-26 01/04S | USD | 1,762,003.54 | 0.16 |
| Norway |  | 9,949,123.39 | 0.92 |
| 6,136,000 AKER BP ASA	4.000 20-31 15/01S | USD | 5,687,961.79 | 0.53 |
| 4,470,000 EXPLORER II AS	3.375 20-25 24/02S | EUR | 4,261,161.60 | 0.39 |
| Panama |  | 1,722,463.05 | 0.16 |
| 1,551,000 CARNIVAL CORPORATION 7.625 20-26 01/03S | EUR | 1,722,463.05 | 0.16 |
| Peru |  | 9,609,983.98 | 0.89 |
| 9,000,000 AUNA SA	6.50 20-25 20/11S | USD | 7,848,343.03 | 0.73 |
| 2,000,000 CAMPOSOL SA	6.0000 20-27 03/02S | USD | 1,761,640.95 | 0.16 |
| Portugal |  | 5,313,500.00 | 0.49 |
| 5,000,000 NOVO BANCO SA	0.00 14-51 27/02U | EUR | 1,204,875.00 | 0.11 |
| 5,000,000 NOVO BANCO SA 0.00 14-48 03/04U | EUR | 1,420,975.00 | 0.14 |
| 5,000,000 NOVO BANCO SA 0.00 14-49 12/02U | EUR | 1,339,650.00 | 0.12 |
| 5,000,000 NOVO BANCO SA 0.00 14-49 19/02U | EUR | 1,348,000.00 | 0.12 |
| Romania |  | 4,371,533.63 | 0.40 |
| 1,715,000 GLOBALWORTH RE ESTATE 2.95 20-26 29/07A | EUR | 1,860,046.13 | 0.17 |
| 2,500,000 RCS & RDS SA	3.25 20-28 05/02S | EUR | 2,511,487.50 | 0.23 |
| Singapore |  | 3,456,227.33 | 0.32 |
| 4,000,000 VENA ENERGY CAP  3.1330 20-25 26/02S | USD | 3,456,227.33 | 0.32 |
| Spain |  | 13,991,681.87 | 1.29 |
| 6,100,000 CELLNEX FINANCE CO SA 1.5 21-28 08/06A | EUR | 6,114,182.50 | 0.56 |
| 4,500,000 CELLNEX FINANCE 0.00 21-33 15/02A | EUR | 4,462,807.50 | 0.41 |
| 3,325,000 NEINOR HOMES SL  4.5000 21-26 15/10S | EUR | 3,414,691.87 | 0.32 |
| Sweden |  | 26,117,129.80 | 2.41 |
| 10,000 INTRUM AB	2.75 17-22 15/07S | EUR | 10,021.05 | 0.00 |
| 18,750,000 SAMHALLSBYGGNAD	2.8750 21-49 31/12A | EUR | 18,620,343.75 | 1.72 |
| 7,400,000 SAMHALLSBYGGNAD 1.00 20-27 12/08A | EUR | 7,486,765.00 | 0.69 |
| The Netherlands |  | 67,125,935.31 | 6.20 |
| 1,770,000 AIRBUS SE 2.3750 20-40 09/06A | EUR | 2,059,987.95 | 0.19 |
| 4,000,000 GREENKO DUTCH BV  3.85 21-26 29/03S | USD | 3,461,910.79 | 0.32 |
| 2,500,000 IHS NL HOLDCO	8.00 19-27 18/09S | USD | 2,300,468.00 | 0.21 |
| 2,700,000 IMCD NV	2.50 18-25 26/03A | EUR | 2,829,114.00 | 0.26 |
| 1,800,000 JAB HOLDINGS	3.375 20-35 17/04A | EUR | 2,219,427.00 | 0.21 |
| 2,000,000 LUKOIL SECURITIES  3.875 20-30 06/05S | USD | 1,791,921.74 | 0.17 |
| 15,000,000 LUNDIN ENERGY F  3.1000 21-31 15/07S | USD | 12,820,958.77 | 1.18 |
| 11,500,000 MAS REAL ESTATE INC 4.25 21-26 15/05A | EUR | 11,541,400.00 | 1.06 |
| 1,000,000 NE PROPERTY BV 3.375 20-27 14/07A | EUR | 1,112,905.00 | 0.10 |
| 2,000,000 NE PROPERTY BV 1.8750 19-26 09/10A | EUR | 2,058,400.00 | 0.19 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| 3,000,000 PROSUS NV 2.031 20-32 03/08A | EUR | 3,090,765.00 | 0.29 |
| --- | --- | --- | --- |
| 800,000 PROSUS NV 3.6800 20-30 21/01S | USD | 723,329.12 | 0.07 |
| 4,560,000 PROSUS NV 3.8320 20-51 08/02S | USD | 3,576,191.25 | 0.33 |
| 3,143,000 REPSOL INTL FINANCE 2.50 21-XX 22/03A | EUR | 3,166,981.09 | 0.29 |
| 2,775,000 TEVA PHARMA 1.625 16-28 15/10A | EUR | 2,457,748.12 | 0.23 |
| 375,000 TEVA PHARMA 1.875 15-27 31/03A | EUR | 345,241.87 | 0.03 |
| 4,850,000 UNITED GROUP BV 3.625 20-28 15/02S | EUR | 4,726,349.25 | 0.44 |
| 3,875,000 UNITED GROUP BV 4.00 20-27 15/11S | EUR | 3,856,090.00 | 0.36 |
| 1,000,000 VTR FINANCE NV	6.3750 20-28 15/07S | USD | 898,583.36 | 0.08 |
| 2,068,000 WABTEC TRAN	1.2500 21-27 03/12U | EUR | 2,088,163.00 | 0.19 |
| Turkey |  | 13,012,891.11 | 1.20 |
| 3,675,000 ANADOLU EFES BIRACILI 3.375 21-28 29/06S | USD | 3,107,976.53 | 0.29 |
| 3,450,000 ARCELIK AS 3.00 21-26 27/05A | EUR | 3,496,885.50 | 0.32 |
| 5,200,000 PEGASUS HAVA TAS  9.25 21-26 30/04S | USD | 4,629,223.38 | 0.43 |
| 2,180,000 RONESANS	7.25 18-23 26/04S | USD | 1,778,805.70 | 0.16 |
| United Kingdom |  | 69,033,412.26 | 6.38 |
| 3,300,000 CANARY WHARF GROUP  1.750 21-26 07/04S | EUR | 3,325,723.50 | 0.31 |
| 4,420,000 CARNIVAL PLC	1.0 19-29 28/10A | EUR | 3,641,306.50 | 0.34 |
| 2,270,000 EASYJET PLC	0.8750 19-25 11/06 | EUR | 2,276,639.75 | 0.21 |
| 3,700,000 EASYJET PLC	1.125 16-23 18/10A | EUR | 3,768,764.50 | 0.35 |
| 745,000 EASYJET PLC	1.75 16-23 09/02A | EUR | 760,924.38 | 0.07 |
| 3,800,000 GATWICK AIRPORT	4.375 21-26 07/04S | GBP | 4,487,603.24 | 0.41 |
| 4,000,000 GAZ FINANCE PLC 1.50 21-27 17/02A | EUR | 3,998,980.00 | 0.37 |
| 3,000,000 INFORMA PLC	1.2500 19-28 22/04A | EUR | 3,057,330.00 | 0.28 |
| 1,900,000 INFORMA PLC	1.5000 18-23 05/07A | EUR | 1,957,247.00 | 0.18 |
| 4,050,000 INFORMA PLC	2.1250 20-25 06/10A | EUR | 4,316,348.25 | 0.40 |
| 500,000 INTERCONT HOTELS	2.125 16-26 24/08A | GBP | 593,610.58 | 0.05 |
| 9,577,273 KCA DEUTAG UK FINANCE 9.875 20-25 01/12S | USD | 8,928,329.78 | 0.83 |
| 10,000,000 STANDARD CHARTERED 1.2000 21-31 23/09A | EUR | 10,029,700.00 | 0.93 |
| 10,500,000 TECHNIPFMC PLC	6.5000 21-26 01/02S | USD | 9,565,102.46 | 0.88 |
| 5,000,000 WHITBREAD GRP	2.375 21-27 31/05A | GBP | 5,921,748.50 | 0.55 |
| 2,000,000 WHITBREAD GRP	3.00 21-31 31/05A | GBP | 2,404,053.82 | 0.22 |
| United States of America |  | 136,425,182.46 | 12.62 |
| 2,000,000 ATHENE GLOBAL FUNDING 0.625 21-28 12/01A | EUR | 1,989,750.00 | 0.18 |
| 5,000,000 BIDFAIR HOLDINGS INC 5.875 21-29 01/06S | USD | 4,289,990.72 | 0.40 |
| 3,000,000 BOEING CO	5.93 20-60 01/05S | USD | 3,474,538.33 | 0.32 |
| 3,639,000 BOEING CO	5.705 20-40 01/05S | USD | 3,950,903.33 | 0.37 |
| 7,000,000 BRISTOW GROUP I  6.8750 21-28 01/03S | USD | 6,022,072.91 | 0.56 |
| 1,000,000 CEDC FIN CORP INTL 10.00 17-22 31/12S | USD | 682,111.04 | 0.06 |
| 10,000,000 CITADEL FINANCE LLC 3.375 21-26 09/03S | USD | 8,460,494.14 | 0.78 |
| 7,500,000 COMPASS GROUP D  5.2500 21-29 15/04S | USD | 6,591,422.78 | 0.61 |
| 5,000,000 DRAWBRIDGE SPEC  3.8750 21-26 15/02S | USD | 4,369,548.45 | 0.40 |
| 6,500,000 ENCORE CAPITAL GROUP 4.875 20-25 15/10S | EUR | 6,893,250.00 | 0.64 |
| 3,534,000 FORTRESS TRANSPORT  6.50 18-25 01/10S | USD | 3,102,940.80 | 0.29 |
| 1,000,000 FORTRESS TRANSPORT  9.75 20-27 01/08S | USD | 977,217.10 | 0.09 |
| 1,000,000 FORTRESS TRANSPORT 5.50 21-28 01/05S | USD | 878,025.13 | 0.08 |
| 1,100,000 FS ENERGY AND POWER 7.5  18-23 15/08S | USD | 962,349.27 | 0.09 |
| 4,000,000 GENTING NY LLC	3.3000 21-26 15/02S | USD | 3,395,547.69 | 0.31 |
| 6,000,000 GOLUB CAPITAL BDC INC 2.5 21-26 24/08S | USD | 5,091,803.70 | 0.47 |
| 2,000,000 HAT HOLDINGS I LLC 3.375 21-26 15/06S | USD | 1,696,483.69 | 0.16 |
| 3,000,000 HAT HOLDINGS I LLC  3.75 20-30 15/09S | USD | 2,499,905.14 | 0.23 |
| 8,500,000 KOSMOS ENERGY PLC	7.5 21-28 01/03S | USD | 7,089,891.64 | 0.66 |
| 1,000,000 LGI HOMES INC	4.0 21-29 15/07S | USD | 848,886.92 | 0.08 |
| 6,000,000 LIBERTY MUTUAL GROUP IN 4.3 21-61 01/02S | USD | 4,617,708.07 | 0.43 |
| 2,000,000 LYB INTL FINANCE III 4.20 20-50 01/05S | USD | 1,932,388.91 | 0.18 |
| 3,000,000 MICROSTRATEGY	6.125 21-28 15/06S | USD | 2,491,323.05 | 0.23 |
| 12,110,000 MURPHY OIL CORP  5.875 19-27 01/12S | USD | 10,652,388.57 | 0.98 |
| 13,183,000 MURPHY OIL CORP  6.125 12-42 01/12S | USD | 11,056,150.46 | 1.03 |
| 3,600,000 MURPHY OIL CORP  6.375 21-28 15/07S | USD | 3,207,988.87 | 0.30 |
| 2,700,000 MURPHY OIL CORP  7.0500 99-29 01/05S | USD | 2,535,732.35 | 0.23 |
| 2,000,000 ONEOK INC.	7.15 20-51 15/01S | USD | 2,497,478.37 | 0.23 |
| 2,300,000 PERSHING SQUARE HO 5.50 15-22 15/07U | USD | 2,015,317.06 | 0.19 |
| 3,000,000 RESORTS WORLD/R	4.6250 21-31 06/04S | USD | 2,622,501.89 | 0.24 |
| 10,800,000 SIERRACOL ENERGY AND 6.0 21-28 15/06S | USD | 9,241,381.23 | 0.85 |
| 4,850,000 STANDARD INDUSTRIES 2.25 19-26 21/11A | EUR | 4,836,226.00 | 0.45 |
| 4,000,000 TERRAFORM GLOBAL OPE 6.125 18-26 01/03S | USD | 3,482,680.59 | 0.32 |

| Quantity	Denomination	Quotation currency | Market value | % of net assets |
| --- | --- | --- |
| 250,000 TRIPADVISOR INC  7.0000 20-25 15/07S	USD | 227,608.78 | 0.02 |
| 2,000,000 TWILIO INC 3.875 21-31 15/03S	USD | 1,741,175.48 | 0.16 |
| Convertible bonds | 11,869,879.98 | 1.10 |
| Austria | 5,361,700.00 | 0.50 |
| 5,000,000 ERSTE GRP BK AG CV FL.R 20-XX 15/04S	EUR | 5,361,700.00 | 0.50 |
| Israel | 1,520,097.61 | 0.14 |
| 1,750,000 BANK LEUMI-ISRAEL CV FL.R 20-31 29/01S	USD | 1,520,097.61 | 0.14 |
| Italy | 1,634,985.00 | 0.15 |
| 1,500,000 FINECO BANK SPA CV FL.R 19-XX 03/12S	EUR | 1,634,985.00 | 0.15 |
| United Kingdom | 3,353,097.37 | 0.31 |
| 2,667,000 NATWEST GROUP PLC CV FL.R 20-XX 31/03Q	GBP | 3,353,097.37 | 0.31 |
| Floating rate bonds | 213,416,320.47 | 19.73 |
| Belgium | 6,995,415.00 | 0.65 |

| 7,000,000 KBC GROUPE SA | FL.R 20-26 10/09A | EUR | 6,995,415.00 | 0.65 |
| --- | --- | --- | --- | --- |
| Bermuda |  |  | 820,253.45 | 0.08 |
| 1,735,374 SEADRILL NEW FINANCE FL.R 18-25 15/07S	USD | 820,253.45 | 0.08 |
| Cayman Islands | 6,343,641.05 | 0.59 |
| 6,032,000 BANCO MERCANTILE FL.R 20-XX 14/01Q	USD | 6,170,783.31 | 0.57 |
| 200,000 BCO DO BRASIL CAYMAN FL.R 13-XX 15/04S	USD | 172,857.74 | 0.02 |
| France | 33,464,414.40 | 3.09 |
| 6,300,000 ACCOR SA | FL.R 19-XX 31/12A | EUR | 6,182,851.50 | 0.57 |
| 1,000,000 ACCOR SA | FL.R 19-XX 31/01A | EUR | 1,051,805.00 | 0.10 |
| 1,500,000 BNP PARIBAS SA	FL.R 15-XX 17/06S | EUR | 1,579,365.00 | 0.15 |
| 4,500,000 CREDIT AGRICOLE FL.R 20-49 31/12Q | EUR | 4,925,295.00 | 0.46 |
| 1,300,000 CREDIT AGRICOLE SA  FL.R 19-XX 23/03S | USD | 1,231,119.40 | 0.11 |
| 8,000,000 LA BANQUE POSTALE  FL.R 19-XX 20/05S | EUR | 8,441,160.00 | 0.77 |
| 2,200,000 MACIF FL.R 21-XX 21/06S | EUR | 2,216,357.00 | 0.20 |
| 500,000 ORANGE SA FL.R | 19-XX 15/04A | EUR | 526,272.50 | 0.05 |
| 2,600,000 ORANGE SA FL.R 21-XX 11/05A | EUR | 2,566,902.00 | 0.24 |
| 4,700,000 RCI BANQUE SA FL.R 19-30 18/02A | EUR | 4,743,287.00 | 0.44 |
| Germany | 5,539,004.00 | 0.51 |
| 2,000,000 MERCK KGAA	FL.R 19-79 25/06A	EUR | 2,184,950.00 | 0.20 |
| 3,300,000 MUNICH RE	FLR 20-41 26/05A | EUR | 3,354,054.00 | 0.31 |
| Greece |  | 2,461,787.50 | 0.23 |
| 2,500,000 PIRAEUS FINANCIAL HOLD FL.R 21-49 31/12S	EUR | 2,461,787.50 | 0.23 |
| Ireland | 10,079,159.91 | 0.93 |
| 5,000,000 AIB GROUP PLC FL.R 20-31 30/05A	EUR | 5,353,725.00 | 0.49 |
| 200,000 BANK OF IRELAND GROUP FL.R 17-27 19/09S	USD | 172,687.41 | 0.02 |
| 3,000,000 BANK OF IRELAND GRP FL.R 21-31 11/08A | EUR | 2,986,650.00 | 0.28 |
| 1,500,000 BANK OF IRELAND GRP FL.R 19-29 14/10A | EUR | 1,566,097.50 | 0.14 |
| Israel |  | 3,252,971.79 | 0.30 |
| 3,805,000 MIZRAHI TEFAHOT BANK FL.R 21-31 07/04S | USD | 3,252,971.79 | 0.30 |
| Italy |  | 40,733,955.37 | 3.76 |
| 4,000,000 ENEL SPA | FL.R 13-73 24/09S | USD | 3,924,142.00 | 0.36 |
| 6,000,000 ENEL SPA FL.R 21-XX 08/09A | EUR | 5,913,120.00 | 0.55 |
| 16,782,000 ENI SPA FL.R 20-49 31/12A | EUR | 17,864,690.73 | 1.64 |
| 8,334,000 ENI SPA FL.R 21-XX 11/06A | EUR | 8,398,255.14 | 0.78 |
| 3,000,000 INTESA SANPAOLO	FL.R 20-XX 31/12S | EUR | 2,996,040.00 | 0.28 |
| 1,500,000 UNICREDIT SPA FL.R 19-29 20/02A | EUR | 1,637,707.50 | 0.15 |
| Mexico | 7,556,821.54 | 0.70 |
| 8,667,000 CEMEX SAB DE CV FL.R 21-XX 08/03S	USD | 7,556,821.54 | 0.70 |
| Spain |  | 2,518,109.00 | 0.23 |
| 2,200,000 BBVA FL.R 20-XX 15/01Q | EUR | 2,518,109.00 | 0.23 |
| Sweden |  | 19,983,805.40 | 1.85 |
| 9,140,000 SAMHALLSBYGGNAD | FL.R 20-XX 14/003A | EUR | 9,166,780.20 | 0.85 |
| 6,720,000 SAMHALLSBYGGNAD | FL.R 20-XX 30/04A | EUR | 6,752,659.20 | 0.62 |
| 3,800,000 SAMHALLSBYGGNAD FL.R 19-49 31/12A	EUR | 4,064,366.00 | 0.38 |
| Switzerland | 4,500,252.97 | 0.42 |
| 5,000,000 EFG INTERNATIONAL AG FL.R 21-XX 24/03A	USD | 4,500,252.97 | 0.42 |
| The Netherlands | 28,659,018.00 | 2.65 |
| 12,000,000 ABN AMRO BANK NV FL.R 20-XX 22/09S | EUR | 13,002,300.00 | 1.20 |
| 1,000,000 RABOBANK FL.R 19-XX 29/06S | EUR | 1,036,790.00 | 0.10 |
| 2,000,000 RABOBANK FL.R 20-XX 29/06S | EUR | 2,221,080.00 | 0.21 |
| 1,200,000 REPSOL INTL FINANCE FL.R 20-XX 11/12A | EUR | 1,322,808.00 | 0.12 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| 3,500,000 STEDIN HOLDING NV FL.R 21-XX 31/03A | EUR | 3,555,370.00 | 0.33 |
| --- | --- | --- | --- |
| 3,000,000 SUMMER BIDCO FL.R 19-25 17/11S | EUR | 3,070,590.00 | 0.28 |
| 4,000,000 VOLKSWAGEN INTL FIN FL.R 20-XX 17/06A | EUR | 4,450,080.00 | 0.41 |
| United Kingdom |  | 29,370,811.09 | 2.71 |
| 1,500,000 AVIVA PLC FL.R 20-55 03/06S | GBP | 1,953,284.99 | 0.18 |
| 900,000 BARCLAYS PLC	FL.R 19-99 27/03Q | USD | 865,795.60 | 0.08 |
| 7,400,000 BP CAPITAL MARKETS  FL.R 20-XX 22/06A | EUR | 8,065,482.00 | 0.75 |
| 2,800,000 BP CAPITAL MARKETS FL.R 20-XX 22/06A | EUR | 2,996,854.00 | 0.28 |
| 270,000 CHANNEL LINK	FL.R 17-50 30/06S | EUR | 275,911.65 | 0.03 |
| 8,005,000 GAZ FINANCE PLC	FL.R 20-99 31/12A | EUR | 8,293,700.32 | 0.76 |
| 1,400,000 LEGAL AND GENERAL GROUP FL.R 20-50 01/11S | GBP | 1,879,949.91 | 0.17 |
| 2,400,000 PHOENIX GROUP HOLDINGS FL.R 20-31 04/09S | USD | 2,189,233.50 | 0.20 |
| 1,630,000 STANDARD CHARTERED FL.R 21-99 31/12S | USD | 1,416,790.12 | 0.13 |
| 1,300,000 SWISS RE FINANCE UK FL.R 20-52 04/06A | EUR | 1,433,809.00 | 0.13 |
| United States of America |  | 11,136,900.00 | 1.03 |
| 2,700,000 ENCORE CAPITAL	FL.R 20-28 15/01Q | EUR | 2,783,700.00 | 0.26 |
| 8,000,000 LIBERTY MUTUAL GROUP FL.R 19-59 23/05A | EUR | 8,353,200.00 | 0.77 |
| Mortgage and asset backed securities |  | 138,998,935.71 | 12.85 |
| Ireland |  | 94,713,906.86 | 8.76 |
| 1,000,000 ADAGIO VI CLO DAC  FL.R 17-31 30/04Q | EUR | 997,722.90 | 0.09 |
| 3,300,000 ARBOUR CLO VIII DAC	20-33 15/07Q | EUR | 3,314,917.65 | 0.31 |
| 3,000,000 ARES EUROPEAN CLO  FL.R 20-33 21/10Q | EUR | 2,987,898.90 | 0.28 |
| 7,000,000 AURIUM CLO V DAC	FL.R 21-34 17/04Q | EUR | 7,046,208.40 | 0.65 |
| 1,900,000 AURIUM CLO VI DAC  FL.R 21-34 22/05Q | EUR | 1,913,184.29 | 0.18 |
| 2,750,000 AVOCA 14X FR	FL.R 17-31 12/01Q | EUR | 2,648,724.65 | 0.24 |
| 2,500,000 BAIN CAPITAL EURO CLO FL.R 17-30 17/10Q | EUR | 2,475,703.75 | 0.23 |
| 3,500,000 BAIN CAPITAL EURO CLO FL.R 20-33 24/01Q | EUR | 3,492,266.75 | 0.32 |
| 3,500,000 CARLYLE EURO CLO 2020-2 DAC 21-34 15/01Q | EUR | 3,543,502.90 | 0.33 |
| 3,950,000 CARLYLE EURO CLO 2020-2 DAC 21-34 15/01Q | EUR | 3,907,696.68 | 0.36 |
| 8,000,000 CGMSE	FL.R 21-34 15/04Q | EUR | 8,033,449.60 | 0.74 |
| 4,000,000 CIFCE 1X B1 FL.R	19-32 15/07Q | EUR | 4,006,065.20 | 0.37 |
| 3,750,000 CIFCE 1X E FL.R	19-32 15/07Q | EUR | 3,730,644.75 | 0.34 |
| 2,600,000 HARVEST CLO	FL.R 18-30 22/11Q | EUR | 2,585,400.22 | 0.24 |
| 100,000 HARVEST CLO	FL.R 18-31 15/01Q | EUR | 99,280.57 | 0.01 |
| 500,000 HARVEST CLO	0.0 18-30 22/05 | EUR | 507,667.25 | 0.05 |
| 2,000,000 HARVEST CLO IX DESIGNATED 17-30 15/02Q | EUR | 1,900,828.20 | 0.18 |
| 3,800,000 HARVT II	FL.R 20-33 15/07Q | EUR | 3,815,733.14 | 0.35 |
| 100,000 HARVT 8X B1RR	FL.R 18-31 15/01Q | EUR | 97,775.35 | 0.01 |
| 3,000,000 HENLEY CLO III DAC  FL.R 20-34 25/01Q | EUR | 2,997,126.00 | 0.28 |
| 2,000,000 INVESCO EURO CLO III DAC 19-32 15/07Q | EUR | 2,021,934.60 | 0.19 |
| 2,630,500 MADISON PARK EURO FUND FL.R 20-32 25/11Q | EUR | 2,687,143.61 | 0.25 |
| 2,000,000 RYE HARBOUR ABS  FL.R 17-31 21/04Q | EUR | 2,009,021.20 | 0.19 |
| 1,250,000 RYE HARBOUR CLO DAC FL.R 17-31 21/01Q | EUR | 1,244,717.50 | 0.12 |
| 1,000,000 RYE HARBOUR MBS  FL.R 17-31 21/04Q | EUR | 973,984.90 | 0.09 |
| 6,600,000 SOUND POINT EURO CLO FL.R 21-35 25/07Q | EUR | 6,645,727.44 | 0.61 |
| 550,000 SPAUL 6X B	1.95  17-30 17/01Q | EUR | 554,982.40 | 0.05 |
| 10,000,000 ST PAULS CLO	FL.R 21-23 18/07Q | EUR | 10,046,489.00 | 0.92 |
| 2,500,000 TORO EUROPEAN CLO 2 FL.R 18-30 15/10Q | EUR | 2,500,814.00 | 0.23 |
| 1,800,000 TORO EUROPEAN CLO 3 FL.R 17-30 15/04Q | EUR | 1,804,970.16 | 0.17 |
| 100,000 TYMON PARK	FL.R 18-29 21/01Q | EUR | 99,312.31 | 0.01 |
| 3,950,000 VESEY PARK CLO DAC FL.R 20-32 16/11Q | EUR | 4,023,012.59 | 0.37 |
| Luxembourg |  | 7,618,890.88 | 0.70 |
| 4,000,000 CAIRN CLO XII DAC  FL.R 20-33 15/04Q | EUR | 4,000,956.40 | 0.37 |
| 3,600,000 CAIRN CLO XII DAC  FL.R 20-33 15/04Q | EUR | 3,617,934.48 | 0.33 |
| Morocco |  | 8,234,236.49 | 0.76 |
| 907,267 OCP EURO 2017-1 DAC FL.R 19-32 15/07Q | EUR | 906,750.20 | 0.08 |
| 2,200,000 OCP EURO 2017-1 DAC FL.R 19-32 15/07Q | EUR | 2,190,433.96 | 0.20 |
| 3,125,000 OCP EURO 2017-1 DAC FL.R 20-33 22/01Q | EUR | 3,140,690.93 | 0.30 |
| 2,000,000 OCP EURO 2017-1 DAC FL.R 20-33 22/01Q | EUR | 1,996,361.40 | 0.18 |
| The Netherlands |  | 28,431,901.48 | 2.63 |
| 6,000,000 CAIRN CLO IV BV  FL.R 21-31 30/04Q | EUR | 5,977,801.80 | 0.54 |
| 1,500,000 DRYD 2015-39X CR  FL.R 17-31 15/10Q | EUR | 1,502,629.20 | 0.14 |
| 3,500,000 DRYDEN 44 EURO CLO 2015 BV 21-34 15/04Q | EUR | 3,530,732.45 | 0.33 |
| 1,000,000 HALCYON LOAN ADVISORS 1.9 18-31 18/10Q | EUR | 991,343.70 | 0.09 |
| 3,200,000 HALCYON LOAN ADVISORS FL.R 18-31 18/10Q | EUR | 3,166,863.04 | 0.29 |
| 1,050,000 JUBILEE CDO BV	FL.R 18-29 15/12Q | EUR | 1,049,847.75 | 0.10 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| 3,500,000 JUBILEE CLO 2019-XXIII FL.R 19-32 15/06Q | EUR | 3,488,621.85 | 0.32 |
| --- | --- | --- | --- |
| 2,000,000 JUBILEE CLO 2019-XXIII FL.R 19-32 15/06Q | EUR | 2,023,296.60 | 0.19 |
| 3,200,000 TIKEH 5X B1	FL.R 19-32 15/04Q | EUR | 3,212,192.64 | 0.30 |
| 3,000,000 TIKEHAU	FL.R 17-28 04/08Q | EUR | 2,990,436.60 | 0.28 |
| 500,000 TIKEHAU CLO III BV  FL.R 17-30 01/12Q | EUR | 498,135.85 | 0.05 |
| Other transferable securities |  | 38,931,152.35 | 3.60 |
| Shares |  | 2,238,926.26 | 0.21 |
| Jersey Island |  | 2,238,926.26 | 0.21 |
| 31,545 KELLY TOPCO LIMITED | USD | 2,238,926.26 | 0.21 |
| Bonds |  | 16,498,254.69 | 1.52 |
| Germany |  | 5,306,290.00 | 0.49 |
| 5,500,000 STD PROFIL AUTOMOTIVE 6.25 21-26 30/04S | EUR | 5,306,290.00 | 0.49 |
| Mexico |  | 6,510,667.00 | 0.60 |
| 7,721,000 SEAMEX LTD	0.0 21-22 15/06U | USD | 6,510,667.00 | 0.60 |
| United States of America |  | 4,681,297.69 | 0.43 |
| 4,000,000 ENCORE CAPITAL GROUP 4.25 21-28 01/06S | GBP | 4,681,297.69 | 0.43 |
| Mortgage and asset backed securities |  | 20,193,971.40 | 1.87 |
| Ireland |  | 13,271,190.50 | 1.23 |
| 4,250,000 CARLYLE EURO CLO  FL.R 21-34 15/07Q | EUR | 4,250,000.00 | 0.39 |
| 9,000,000 CARLYLE GLB MKT STRAT FL.R 21-34 15/04Q | EUR | 9,021,190.50 | 0.84 |
| Luxembourg |  | 6,922,780.90 | 0.64 |
| 7,000,000 PROVIDUS CLO V DAC  FL.R 21-35 15/02Q | EUR | 6,922,780.90 | 0.64 |

Total securities portfolio	
1,029,329,336.9395.14
| Income | 16,427,543.68 |
| --- | --- |
| Net interest on bonds | 16,143,282.14 |
| Bank interest on cash account | 17,113.64 |
| Other financial income | 255.30 |
| Interest on swaps | 251,377.48 |
| Securities lending income | 15,515.12 |
| Expenses | 11,231,915.24 |
| Management fees | 3,354,043.12 |
| Performance fees | 1,445,309.55 |
| Bank interest on overdrafts | 171,890.96 |
| Transaction fees | 1,385.12 |
| Interest on swaps | 5,404,404.51 |
| Operating and establishment fees | 854,881.98 |
| Net income from investments | 5,195,628.44 |
| Net realised profit / loss on: - sales of investment securities | 18,146,858.06 |
| - options | 7,820.44 |
| - forward foreign exchange contracts | (531,331.23) |
| - financial futures | 385,523.04 |
| - swaps | 14,367,288.64 |
| - foreign exchange | (3,699,172.78) |
| Net realised profit | 33,872,614.61 |
| Movement in net unrealised appreciation / depreciation on: - investments | 20,003,639.78 |
| - options | (1,101,840.97) |
| - forward foreign exchange contracts | (8,610,511.95) |
| - financial futures | (1,138,483.82) |
| - swaps | (16,861,531.67) |
| Increase in net assets as a result of operations | 26,163,885.98 |
| Dividends paid | (38,373.98) |
| Subscription capitalisation shares | 452,679,551.78 |
| Subscription distribution shares | 2,745,143.11 |
| Redemption capitalisation shares | (68,674,010.81) |
| Increase in net assets | 412,876,196.08 |
| Net assets at the beginning of the period | 668,980,707.36 |
| Net assets at the end of the period | 1,081,856,903.44 |

Translation (ENDE, 2021-06-30):
# CARMIGNAC PORTFOLIO
## Konsolidiert

#### Abschluss zum 30.06.2021

###### Aufstellung des Nettovermögens zum 30.06.2021
Ausgedrückt in EUR
| Aktiva | 13.149.490.262,90 |
| --- | --- |
| Wertpapierportfolio zum Bewertungskurs | 11.694.212.488,64 |
| Anschaffungskosten | 10.913.684.805,46 |
| Nicht realisierter Gewinn aus dem Wertpapierportfolio | 780.527.683,18 |
| Zum Bewertungskurs erworbene Optionen | 23.433.358,70 |
| Zum Einstandspreis erworbene Optionen | 26.662.421,68 |
| Bankguthaben und liquide Mittel | 951.158.249,12 |
| Zinsforderungen | 57.853.894,24 |
| Forderungen gegenüber Brokern | 219.933.023,84 |
| Forderungen aus Zeichnungen | 192.335.429,44 |
| Dividendenforderungen | 2.176.351,73 |
| Nicht realisierter Nettogewinn aus Devisenterminkontrakten | 1.667.847,62 |
| Nicht realisierter Nettogewinn aus Futures | 237.266,23 |
| Nicht realisierter Nettogewinn aus Swaps | 4.209.453,39 |
| Sonstige Aktiva | 1.141.244,01 |
| Passiva | 777.310.797,87 |
| Zum Bewertungskurs verkaufte Optionen | 12.087.218,05 |
| Zum Einstandspreis verkaufte Optionen | 15.401.313,38 |
| Kontoüberziehungen | 98.574.660,55 |
| Verbindlichkeiten gegenüber Brokern | 414.058.426,21 |
| Verbindlichkeiten aus Rücknahmen | 107.523.320,84 |
| Nicht realisierter Nettoverlust aus Devisenterminkontrakten | 29.661.082,62 |
| Nicht realisierter Nettoverlust aus Futures | 11.765.200,57 |
| Nicht realisierter Nettoverlust aus Swaps | 67.706.325,22 |
| Sonstige Passiva | 35.934.563,81 |
| Nettoinventarwert | 12.372.179.465,03 |


###### Aufwands- und Ertragsrechnung und Veränderungen des Nettovermögens vom 01.01.2021 bis 30.06.2021
Ausgedrückt in EUR
| Erträge | 114.524.076,87 |
| --- | --- |
| Nettodividenden | 22.535.782,60 |
| Nettozinsen aus Anleihen | 80.326.116,97 |
| Bankzinsen aus Sichteinlagen | 256.502,92 |
| Sonstige Finanzerträge | 1.948.419,92 |
| Zinsen aus Swapverträgen | 9.393.535,06 |
| Erträge aus Wertpapierleihe | 63.719,40 |
| Aufwand | 105.772.440,46 |
| Verwaltungsgebühren | 47.333.492,70 |
| Performancegebühren | 12.235.758,25 |
| Überziehungszinsen | 3.544.279,77 |
| Transaktionskosten | 6.896.184,15 |
| Dividendenaufwand | 1.543.766,54 |
| Zinsen aus Swapverträgen | 20.849.922,15 |
| Betriebs- und Gründungskosten | 13.369.036,90 |
| Nettoertrag aus Anlagen | 8.751.636,41 |
| Realisierter Nettogewinn/-verlust aus: - Wertpapierverkäufen | 378.987.776,60 |
| - Optionen | 13.900.184,68 |
| - Devisenterminkontrakten | (8.220.805,64) |
| - Futures | (36.460.151,65) |
| - Swaps | 90.450.247,38 |
| - Wechselkursgeschäften | (45.965.371,15) |
| Realisierter Nettogewinn | 401.443.516,63 |
| Veränderung des nicht realisierten Nettogewinns/-verlusts aus: - Anlagen | 88.440.067,37 |
| - Optionen | (1.033.462,86) |
| - Devisenterminkontrakten | (33.086.594,64) |
| - Futures | (1.936.490,25) |
| - Swaps | (56.656.482,91) |
| Zunahme des Nettovermögens gemäß Erfolgsrechnung | 397.170.553,34 |
| Ausgeschüttete Dividenden | (4.441.137,03) |
| Zeichnungen von thesaurierenden Aktien | 4.566.890.449,80 |
| Zeichnungen von ausschüttenden Aktien | 91.883.949,47 |
| Rücknahmen von thesaurierenden Aktien | (2.558.694.657,11) |
| Rücknahmen von ausschüttenden Aktien | (46.964.378,08) |
| Zunahme des Nettovermögens | 2.445.844.780,39 |
| Nettovermögen zu Beginn des Berichtszeitraums | 9.926.334.684,64 |
| Nettovermögen am Ende des Berichtszeitraums | 12.372.179.465,03 |