# from 1 January 2023 to the 30 June 2023
|  |  |  |
| --- | --- | --- |
|  | Notes | Combined (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 261,223.67 |
| Interest on bonds, net of taxes | 1g | 80,046.15 |
| Interest on cash accounts |  | 196,010.65 |
| Other income | 7 | 112,619.72 |
| Total Income |  | 649,900.19 |
| Expenses |  |  |
| Management fees | 3 | 2,891,541.44 |
| Depositary fees | 6 | 39,666.43 |
| Subscription tax | 4 | 384,876.51 |
| Administration fees | 5 | 301,734.32 |
| Miscellaneous fees |  | 47,327.94 |
| Transaction fees |  | 73,988.66 |
| Overdraft interest |  | 8,863.94 |
| Taxes paid to foreign authorities |  | 1,500.00 |
| Total Expenses |  | 3,749,499.24 |
| Net Profit / (Loss) |  | -3,099,599.05 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -24,721,305.13 |
| - on currencies |  | -461,699.06 |
| - on futures |  | -1,824,265.56 |
| Total Net Realised Profit / (Loss) |  | -30,106,868.80 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 132,135,196.54 |
| - on currencies |  | -127,862.37 |
| - on futures |  | -3,605,695.22 |
| Result of operations |  | 98,294,770.15 |
| - Subscriptions |  | 8,166,598.25 |
| - Redemptions (*) | 9 | -2,265,816,945.81 |
| Dividends paid | -1,500,491.76 |
| Net changes in Net Assets |  | -2,170,856,069.17 |
| Net assets at the beginning of the period |  | 2,647,701,080.37 |
| Net assets at the end of the period |  | 486,845,011.20 |

(*) see note about the merger
|  |
| --- |
| TPF Flexible |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 392,048,709.21 |
| Cash at banks |  | 4,080,725.91 |
| Interest receivable on cash account |  | 12,297.29 |
| Amounts receivable on investment sold |  | 2,055,230.00 |
| Futures guaranty deposit | 8 | 0.00 |
| Prepaid expenses |  | 188,876.90 |
| Total Assets |  | 398,385,839.31 |
| Liabilities |  |  |
| Taxes and Expenses payable | 2 | 917,955.57 |
| Overdraft at banks |  | 0.00 |
| Overdraft interest |  | 0.00 |
| Amounts payable on redemptions |  | 421,693.98 |
| Futures Guaranty deposit | 8 | 0.00 |
| Total Liabilities |  | 1,339,649.55 |
| Net assets at the end of the period |  | 397,046,189.76 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A |  | 557,743.065 |
| - B |  | 1,483,156.715 |
| - C1 |  | 277,059.743 |
| - C2 |  | 523,174.424 |
| - D1 |  | 98,152.502 |
| - D2 |  | 128,381.025 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A |  | 122.14 |
| - B |  | 131.30 |
| - C1 |  | 132.10 |
| - C2 |  | 133.08 |
| - D1 |  | 122.90 |
| - D2 |  | 123.81 |

|  |
| --- |
| TPF Medium |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 86,677,014.64 |
| Cash at banks |  | 3,075,198.68 |
| Interest receivable on cash account |  | 6,180.71 |
| Amounts receivable on investment sold |  | 0.00 |
| Futures guaranty deposit | 8 | 223,032.81 |
| Prepaid expenses |  | 44,184.29 |
| Total Assets |  | 90,025,611.13 |
| Liabilities |  |  |
| Taxes and Expenses payable | 2 | 215,743.74 |
| Overdraft at banks |  | 9,796.06 |
| Overdraft interest |  | 294.56 |
| Amounts payable on redemptions |  | 0.00 |
| Futures Guaranty deposit | 8 | 955.33 |
| Total Liabilities |  | 226,789.69 |
| Net assets at the end of the period |  | 89,798,821.44 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A |  | 262,469.424 |
| - B |  | 55,274.342 |
| - C1 |  | 21,251.391 |
| - C2 |  | 247,875.000 |
| - D1 |  | 75,019.348 |
| - D2 |  | 103,240.618 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A |  | 113.28 |
| - B |  | 120.77 |
| - C1 |  | 121.64 |
| - C2 |  | 122.54 |
| - D1 |  | 114.12 |
| - D2 |  | 114.98 |

|  |
| --- |
| TPF Flexible |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 0.00 |
| Interest on bonds, net of taxes | 1g | 0.00 |
| Interest on cash accounts |  | 74,347.95 |
| Other income | 7 | 108,896.83 |
| Total Income |  | 183,244.78 |
| Expenses |  |  |
| Management fees | 3 | 1,650,399.05 |
| Depositary fees | 6 | 20,821.23 |
| Subscription tax | 4 | 187,001.78 |
| Administration fees | 5 | 159,386.52 |
| Miscellaneous fees |  | 21,408.43 |
| Transaction fees |  | 805.00 |
| Overdraft interest |  | 0.01 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 2,039,822.02 |
| Net Profit / (Loss) |  | -1,856,577.24 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 9,133,315.43 |
| - on currencies |  | 0.00 |
| - on futures |  | 0.00 |
| Total Net Realised Profit / (Loss) |  | 7,276,738.19 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 5,818,470.45 |
| - on currencies |  | 0.00 |
| - on futures |  | 0.00 |
| Result of operations |  | 13,095,208.64 |
| - Subscriptions |  | 1,605,066.88 |
| - Redemptions |  | -36,967,745.89 |
| Dividends paid | 9 | -631,374.01 |
| Net changes in Net Assets |  | -22,898,844.38 |
| Net assets at the beginning of the period |  | 419,945,034.14 |
| Net assets at the end of the period |  | 397,046,189.76 |

|  |
| --- |
| TPF Medium |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 0.00 |
| Interest on bonds, net of taxes | 1g | 0.00 |
| Interest on cash accounts |  | 40,618.73 |
| Other income | 7 | 3,722.89 |
| Total Income |  | 44,341.62 |
| Expenses |  |  |
| Management fees | 3 | 373,262.31 |
| Depositary fees | 6 | 4,905.27 |
| Subscription tax | 4 | 47,475.83 |
| Administration fees | 5 | 43,301.87 |
| Miscellaneous fees |  | 17,212.32 |
| Transaction fees |  | 5,705.34 |
| Overdraft interest |  | 2,367.30 |
| Taxes paid to foreign authorities |  | 1,500.00 |
| Total Expenses |  | 495,730.24 |
| Net Profit / (Loss) |  | -451,388.62 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 2,632,281.96 |
| - on currencies |  | -38,741.82 |
| - on futures |  | -282,514.06 |
| Total Net Realised Profit / (Loss) |  | 1,859,637.46 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 3,412,624.29 |
| - on currencies |  | -127,862.37 |
| - on futures |  | -266,713.74 |
| Result of operations |  | 4,877,685.64 |
| - Subscriptions |  | 178,779.50 |
| - Redemptions |  | -9,159,155.88 |
| Dividends paid | 9 | -869,117.75 |
| Net changes in Net Assets |  | -4,971,808.49 |
| Net assets at the beginning of the period |  | 94,770,629.93 |
| Net assets at the end of the period |  | 89,798,821.44 |

|  |
| --- |
| Sustainable Low |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 10,878.39 |
| Interest on bonds, net of taxes | 1g | 10,351.73 |
| Interest on cash accounts |  | 2,910.91 |
| Other income | 7 | 0.00 |
| Total Income |  | 24,141.03 |
| Expenses |  |  |
| Management fees | 3 | 86,717.56 |
| Depositary fees | 6 | 1,323.60 |
| Subscription tax | 4 | 11,670.25 |
| Administration fees | 5 | 9,785.14 |
| Miscellaneous fees |  | 3,176.47 |
| Transaction fees |  | 2,669.66 |
| Overdraft interest |  | 637.83 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 115,980.51 |
| Net Profit / (Loss) |  | -91,839.48 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -11,781,278.97 |
| - on currencies |  | -31,473.25 |
| - on futures |  | 2,761.94 |
| Total Net Realised Profit / (Loss) |  | -11,901,829.76 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 17,235,697.23 |
| - on currencies |  | 0.00 |
| - on futures |  | -775,002.05 |
| Result of operations |  | 4,558,865.42 |
| - Subscriptions |  | 345,021.19 |
| - Redemptions (*) |  | -190,713,246.10 |
| Dividends paid | 9 | 0.00 |
| Net changes in Net Assets |  | -185,809,359.49 |
| Net assets at the beginning of the period |  | 185,809,359.49 |
| Net assets at the end of the period |  | 0.00 |

(*) see note about the merger
|  |
| --- |
| Sustainable Medium |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 163,282.49 |
| Interest on bonds, net of taxes | 1g | 58,453.50 |
| Interest on cash accounts |  | 60,178.76 |
| Other income | 7 | 0.00 |
| Total Income |  | 281,914.75 |
| Expenses |  |  |
| Management fees | 3 | 393,998.16 |
| Depositary fees | 6 | 8,553.78 |
| Subscription tax | 4 | 92,586.05 |
| Administration fees | 5 | 59,651.44 |
| Miscellaneous fees |  | 2,601.11 |
| Transaction fees |  | 38,446.74 |
| Overdraft interest |  | 3,907.75 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 599,745.03 |
| Net Profit / (Loss) |  | -317,830.28 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | -37,437,742.68 |
| - on currencies |  | -332,784.70 |
| - on futures |  | -1,080,357.48 |
| Total Net Realised Profit / (Loss) |  | -39,168,715.14 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 88,493,874.30 |
| - on currencies |  | 0.00 |
| - on futures |  | -1,785,831.49 |
| Result of operations |  | 47,539,327.67 |
| - Subscriptions |  | 4,379,028.06 |
| - Redemptions (*) |  | -1,374,092,199.59 |
| Dividends paid | 9 | 0.00 |
| Net changes in Net Assets |  | -1,322,173,843.86 |
| Net assets at the beginning of the period |  | 1,322,173,843.86 |
| Net assets at the end of the period |  | 0.00 |

(*) see note about the merger
|  |
| --- |
| Sustainable High |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1g | 87,062.79 |
| Interest on bonds, net of taxes | 1g | 11,240.92 |
| Interest on cash accounts |  | 17,954.30 |
| Other income | 7 | 0.00 |
| Total Income |  | 116,258.01 |
| Expenses |  |  |
| Management fees | 3 | 387,164.36 |
| Depositary fees | 6 | 4,062.55 |
| Subscription tax | 4 | 46,142.60 |
| Administration fees | 5 | 29,609.35 |
| Miscellaneous fees |  | 2,929.61 |
| Transaction fees |  | 26,361.92 |
| Overdraft interest |  | 1,951.05 |
| Taxes paid to foreign authorities |  | 0.00 |
| Total Expenses |  | 498,221.44 |
| Net Profit / (Loss) |  | -381,963.43 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 12,732,119.13 |
| - on currencies |  | -58,699.29 |
| - on futures |  | -464,155.96 |
| Total Net Realised Profit / (Loss) |  | 11,827,300.45 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | 17,174,530.27 |
| - on currencies |  | 0.00 |
| - on futures |  | -778,147.94 |
| Result of operations |  | 28,223,682.78 |
| - Subscriptions |  | 1,658,702.62 |
| - Redemptions (*) |  | -654,884,598.35 |
| Dividends paid | 9 | 0.00 |
| Net changes in Net Assets |  | -625,002,212.95 |
| Net assets at the beginning of the period |  | 625,002,212.95 |
| Net assets at the end of the period |  | 0.00 |

(*) see note about the merger
|  |
| --- |
| TPF Flexible |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Investment funds |  |  |  |  |  |
| AMUNDI INTERNATIONAL -CAP- | 29,513 | EUR | 44,522,028.42 | 73,467,006.03 | 18.50% |
| AXA WORLD FUNDS GLOBAL OPTIMAL INC. -I- | 500,305 | EUR | 78,143,321.34 | 73,739,953.95 | 18.57% |
| BL GLOBAL FLEXIBLE EUR -CAP- | 68,563 | EUR | 52,168,596.69 | 73,401,019.39 | 18.49% |
| FLOSSBACH VON STORCH MULTI OPP -II- | 440,945 | EUR | 55,127,632.46 | 74,475,610.50 | 18.76% |
| M&G LUX INVESTMENT DYNAMIC ALLOCATION -CI- -CAP- | 2,163,465 | EUR | 20,823,932.84 | 23,278,667.05 | 5.86% |
| NORDEA 1 STABLE RETURN CCY -CAP- | 3,768,145 | EUR | 63,633,244.55 | 73,686,452.29 | 18.56% |
| Total EURO |  |  | 314,418,756.30 | 392,048,709.21 | 98.74% |
| Total Investment funds |  |  | 314,418,756.30 | 392,048,709.21 | 98.74% |
| Total Portfolio |  |  | 314,418,756.30 | 392,048,709.21 | 98.74% |

|  |
| --- |
| TPF Medium |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Investment funds |  |  |  |  |  |
| AMUNDI EUROP EQUIT. VALUE J2 -EUR- -CAP- | 4,275 | EUR | 3,997,152.85 | 5,262,627.96 | 5.86% |
| AXA GLOBAL INFLATION BOND -I- -CAP- | 7,660 | EUR | 1,190,110.03 | 1,125,407.20 | 1.25% |
| COMGEST GROWTH EUROPE -I- EUR -CAP- | 111,894 | EUR | 3,398,152.85 | 4,888,648.86 | 5.44% |
| DWS INVESTMENT EURO CORP. BDS IC 100 -CAP- | 57,525 | EUR | 5,696,691.06 | 5,646,078.75 | 6.29% |
| HENDERSON HORIZON PAN EUROPEAN SM GU2 EUR | 34,519 | EUR | 1,785,986.75 | 2,416,332.80 | 2.69% |
| INVESCO GLOBAL TOTAL RETURN BOND -Z- -CAP- | 443,531 | EUR | 4,626,549.72 | 4,690,292.48 | 5.22% |
| JP MORGAN -F- EU GOVT BOND -I- EUR -CAP- | 90,900 | EUR | 11,166,400.88 | 10,077,355.80 | 11.22% |
| KEMPEN INTERNATIONAL LUX EURO CREDIT -I- -CAP- | 2,520 | EUR | 3,654,675.66 | 3,398,875.20 | 3.78% |
| MFS MERIDIAN EUROPEAN VALUE FUND -I1- | 11,905 | EUR | 3,673,686.39 | 5,274,153.10 | 5.87% |
| SHRODER INTERNATIONAL SEL FUND GLOBAL BOND Z -CAP- | 396,864 | EUR | 4,868,187.36 | 4,537,386.60 | 5.05% |
| THREADNEEDLE EUROP HIGH YIELD -B- 9E | 95,700 | EUR | 968,474.82 | 992,265.45 | 1.10% |
| Total EURO |  |  | 45,026,068.37 | 48,309,424.20 | 53.80% |
| NOMURA IRELAND JAPAN STRATEGIC VALUE -R- | 19,609 | JPY | 1,858,964.87 | 2,313,086.36 | 2.58% |
| Total JAPANESE YEN |  |  | 1,858,964.87 | 2,313,086.36 | 2.58% |
| ALGEGWU LX GROUP CLASSE -CAP- | 2,470 | USD | 2,041,632.46 | 2,030,652.43 | 2.26% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 1,530 | USD | 1,800,524.41 | 1,576,839.60 | 1.76% |
| AMUNDI EMERGING MARKETS LOCAL CCY -I- | 3,440 | USD | 2,934,869.85 | 3,002,826.76 | 3.34% |
| BROWN ADV US SUST GR | 137,000 | USD | 1,814,829.90 | 1,819,550.87 | 2.03% |
| FED HER INVESTMENT GLOBAL EMERGING MARKET EQUIT. -L- USD -CAP- | 1,249,978 | USD | 2,858,577.40 | 3,177,418.96 | 3.54% |
| FRANKLIN TEMPELTON INVESTMENT ASIAN SMALLER COMPANIES - S- -CAP- | 125,466 | USD | 1,120,777.64 | 1,472,013.97 | 1.64% |
| HEPTAGON DRIEHAUS US SMALL CAP -I- US | 19,700 | USD | 2,251,118.46 | 1,893,800.18 | 2.11% |
| HEPTAGON FUND ICAV YACKTMAN US EQUIT. | 24,098 | USD | 2,728,276.58 | 3,394,482.71 | 3.78% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 29,550 | USD | 3,307,236.05 | 2,949,312.10 | 3.28% |
| NORDEA1 US CORP STAR | 10,300 | USD | 993,136.35 | 968,224.55 | 1.08% |
| POLEN CAPITAL FOCUS U.S. GROWTH US -DIS- | 372,518 | USD | 4,677,665.76 | 5,237,787.46 | 5.83% |
| ROBECO CAP GROWTH BP GLOBAL PREMIUM EQUIT. -I- | 12,680 | USD | 1,449,095.17 | 2,135,260.86 | 2.38% |
| SISF EM MRKT EQ ALPH | 15,400 | USD | 1,676,050.39 | 1,621,392.74 | 1.81% |
| SMEAD US VALUE UCITS FUND -I -B- -CAP- | 6,550 | USD | 3,762,267.71 | 3,874,706.23 | 4.31% |
| Total U.S. DOLLAR |  |  | 33,416,058.13 | 35,154,269.42 | 39.15% |
| Total Investment funds |  |  | 80,301,091.37 | 85,776,779.98 | 95.52% |
| Other Transferable Securities |  |  |  |  |  |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 5,306 | USD | 780,150.79 | 895,697.54 | 1.00% |
| Total U.S. DOLLAR |  |  | 780,150.79 | 895,697.54 | 1.00% |
| Total Other Transferable Securities |  |  | 780,150.79 | 895,697.54 | 1.00% |

|  |
| --- |
| TPF Medium |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Options |  |  |  |  |  |
| PUT S&P AUGUST 2023 3,750. | -11 | USD | -56,366.20 | -4,335.47 | -0.00% |
| PUT S&P AUGUST 2023 4,000. | 11 | USD | 102,372.28 | 8,872.59 | 0.01% |
| Total U.S. DOLLAR |  |  | 46,006.08 | 4,537.12 | 0.01% |
| Total Options |  |  | 46,006.08 | 4,537.12 | 0.01% |
| Total Portfolio |  |  | 81,127,248.24 | 86,677,014.64 | 96.52% |

(Content)
| TPF Flexible | % Total Net Assets |
| --- | --- |
|  |
| LUXEMBURG | 98.74 % |
| Total Portfolio | 98.74 % |

(Content)
| TPF Medium | % Total Net Assets |
| --- | --- |
|  |
| LUXEMBURG | 70.21 % |
| IRELAND | 25.31 % |
| JERSEY | 1.00 % |
| Total Portfolio | 96.52 % |

| TPF Flexible | % Total Net Assets |
| --- | --- |
|  |
| UNIT TRUSTS, UCITS | 98.74 % |
| Total Portfolio | 98.74 % |

| TPF Medium | % Total Net Assets |
| --- | --- |
|  |
| UNIT TRUSTS, UCITS | 95.52 % |
| FINANCIAL SERVICES - HOLDINGS | 1.00 % |
| Total Portfolio | 96.52 % |

| TPF Flexible | % Total Net Assets |
| --- | --- |
|  |
| EURO | 98.74 % |
| Total Portfolio | 98.74 % |

| TPF Medium | % Total Net Assets |
| --- | --- |
|  |
| EURO | 53.79 % |
| U.S. DOLLAR | 40.15 % |
| JAPANESE YEN | 2.58 % |
| Total Portfolio | 96.52 % |

TPF Flexible
| Shares outstanding at the beginning of the financial period	- A | 601,385.379 |
| --- | --- |
| - B | 1,574,286.467 |
| - C1 | 287,161.781 |
| - C2 | 624,937.423 |
| - D1 | 125,658.620 |
| - D2 | 128,381.025 |
| Shares issued during the financial period	- A | 2,627.463 |
| - B | 3,692.848 |
| - C1 | 6,190.000 |
| - C2 | 0.000 |
| - D1 | 0.000 |
| - D2 | 0.000 |
| Shares redeemed during the financial period	- A | 46,269.777 |
| - B | 94,822.600 |
| - C1 | 16,292.038 |
| - C2 | 101,762.999 |
| - D1 | 27,506.118 |
| - D2 | 0.000 |
| Shares outstanding at the end of the financial period	- A | 557,743.065 |
| - B | 1,483,156.715 |
| - C1 | 277,059.743 |
| - C2 | 523,174.424 |
| - D1 | 98,152.502 |
| - D2 | 128,381.025 |

TPF Medium
| Shares outstanding at the beginning of the financial period	- A | 286,722.091 |
| --- | --- |
| - B | 54,339.342 |
| - C1 | 21,251.391 |
| - C2 | 299,175.000 |
| - D1 | 75,019.348 |
| - D2 | 104,705.618 |
| Shares issued during the financial period	- A | 272.000 |
| - B | 935.000 |
| - C1 | 0.000 |
| - C2 | 0.000 |
| - D1 | 0.000 |
| - D2 | 335.000 |
| Shares redeemed during the financial period	- A | 24,524.667 |
| - B | 0.000 |
| - C1 | 0.000 |
| - C2 | 51,300.000 |
| - D1 | 0.000 |
| - D2 | 1,800.000 |
| Shares outstanding at the end of the financial period	- A | 262,469.424 |
| - B | 55,274.342 |
| - C1 | 21,251.391 |
| - C2 | 247,875.000 |
| - D1 | 75,019.348 |
| - D2 | 103,240.618 |

Sustainable Low
| Shares outstanding at the beginning of the financial period	- A | 789,522.046 |
| --- | --- |
| - B | 168,547.707 |
| - C1 | 79,558.617 |
| - C2 | 276,839.337 |
| - D1 | 238,307.102 |
| - D2 | 392,638.680 |
| Shares issued during the financial period	- A | 1,622.647 |
| - B | 1,399.973 |
| - C1 | 0.000 |
| - C2 | 0.000 |
| - D1 | 0.000 |
| - D2 | 515.145 |
| Shares redeemed during the financial period	- A | 791,144.693 |
| - B | 169,947.680 |
| - C1 | 79,558.617 |
| - C2 | 276,839.337 |
| - D1 | 238,307.102 |
| - D2 | 393,153.825 |
| Shares outstanding at the end of the financial period	- A | - |
| - B | - |
| - C1 | - |
| - C2 | - |
| - D1 | - |
| - D2 | - |

Sustainable Medium
| Shares outstanding at the beginning of the financial period	- A | 4,777,180.877 |
| --- | --- |
| - B | 1,751,920.593 |
| - C1 | 549,667.193 |
| - C2 | 1,663,564.944 |
| - D1 | 1,487,451.088 |
| - D2 | 1,900,266.567 |
| Shares issued during the financial period	- A | 26,907.777 |
| - B | 10,351.016 |
| - C1 | 0.000 |
| - C2 | 1,720.000 |
| - D1 | 0.000 |
| - D2 | 446.070 |
| Shares redeemed during the financial period	- A | 4,804,088.654 |
| - B | 1,762,271.609 |
| - C1 | 549,667.193 |
| - C2 | 1,665,284.944 |
| - D1 | 1,487,451.088 |
| - D2 | 1,900,712.637 |
| Shares outstanding at the end of the financial period	- A | - |
| - B | - |
| - C1 | - |
| - C2 | - |
| - D1 | - |
| - D2 | - |

Sustainable High
| Shares outstanding at the beginning of the financial period	- A | 1,334,467.192 |
| --- | --- |
| - B | 892,921.559 |
| - C1 | 170,106.862 |
| - C2 | 809,747.139 |
| - D1 | 524,906.760 |
| - D2 | 1,189,494.431 |
| Shares issued during the financial period	- A | 6,900.651 |
| - B | 2,242.764 |
| - C1 | 0.000 |
| - C2 | 1,480.000 |
| - D1 | 554.425 |
| - D2 | 1,566.906 |
| Shares redeemed during the financial period	- A | 1,341,367.843 |
| - B | 895,164.323 |
| - C1 | 170,106.862 |
| - C2 | 811,227.139 |
| - D1 | 525,461.185 |
| - D2 | 1,191,061.337 |
| Shares outstanding at the end of the financial period	- A | - |
| - B | - |
| - C1 | - |
| - C2 | - |
| - D1 | - |
| - D2 | - |

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

| TPF Flexible (EUR) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 580,971,026.86 519,249,431.14 419,945,034.14 397,046,189.76 | - A | 862,638.311 | 122.10 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 2,204,565.023 | 128.60 | EUR |
| - C1 | 429,980.279 | 128.90 | EUR |
| - C2 | 801,235.729 | 129.21 | EUR |
| - D1 | 140,708.814 | 122.39 | EUR |
| - D2 | 130,074.000 | 122.69 | EUR |
| - A | 671,642.034 | 132.83 | EUR |
| - B | 1,798,726.228 | 141.26 | EUR |
| - C1 | 341,566.799 | 141.79 | EUR |
| - C2 | 678,560.729 | 142.42 | EUR |
| - D1 | 130,888.467 | 133.35 | EUR |
| - D2 | 100,199.000 | 133.94 | EUR |
| - A | 601,385.379 | 119.21 | EUR |
| - B | 1,574,286.467 | 127.33 | EUR |
| - C1 | 287,161.781 | 128.00 | EUR |
| - C2 | 624,937.423 | 128.82 | EUR |
| - D1 | 125,658.620 | 119.86 | EUR |
| - D2 | 128,381.025 | 120.63 | EUR |
| - A | 557,743.065 | 122.14 | EUR |
| - B | 1,483,156.715 | 131.30 | EUR |
| - C1 | 277,059.743 | 132.10 | EUR |
| - C2 | 523,174.424 | 133.08 | EUR |
| - D1 | 98,152.502 | 122.90 | EUR |
| - D2 | 128,381.025 | 123.81 | EUR |

| TPF Medium (EUR) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 154,236,068.51 154,838,676.40 94,770,629.93 89,798,821.44 | - A | 387,930.670 | 119.41 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 71,683.302 | 122.94 | EUR |
| - C1 | 23,927.932 | 123.21 | EUR |
| - C2 | 509,351.000 | 123.51 | EUR |
| - D1 | 105,455.000 | 119.70 | EUR |
| - D2 | 171,848.000 | 119.99 | EUR |
| - A | 333,998.435 | 130.94 | EUR |
| - B | 67,772.810 | 135.99 | EUR |
| - C1 | 17,654.000 | 136.57 | EUR |
| - C2 | 502,000.000 | 137.17 | EUR |
| - D1 | 87,516.348 | 131.52 | EUR |
| - D2 | 144,648.000 | 132.10 | EUR |
| - A | 286,722.091 | 109.54 | EUR |
| - B | 54,339.342 | 114.80 | EUR |
| - C1 | 21,251.391 | 115.52 | EUR |
| - C2 | 299,175.000 | 116.25 | EUR |
| - D1 | 75,019.348 | 110.24 | EUR |
| - D2 | 104,705.618 | 110.96 | EUR |
| - A | 262,469.424 | 113.28 | EUR |
| - B | 55,274.342 | 120.77 | EUR |
| - C1 | 21,251.391 | 121.64 | EUR |
| - C2 | 247,875.000 | 122.54 | EUR |
| - D1 | 75,019.348 | 114.12 | EUR |
| - D2 | 103,240.618 | 114.98 | EUR |

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

| Sustainable Low (EUR) | 31.12.2020 31.12.2021 31.12.2022 23.01.2023 (*) | 131,010,951.65 213,169,693.65 185.809.359,49 190.250.390,00 | - A | 542,441.227 | 106.15 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 96,684.213 | 109.51 | EUR |
| - C1 | 45,380.000 | 109.69 | EUR |
| - C2 | 110,255.000 | 109.93 | EUR |
| - D1 | 125,907.748 | 106.34 | EUR |
| - D2 | 303,624.769 | 106.57 | EUR |
| - A | 832,711.675 | 109.48 | EUR |
| - B | 164,337.374 | 114.22 | EUR |
| - C1 | 61,020.126 | 114.64 | EUR |
| - C2 | 311,892.000 | 115.00 | EUR |
| - D1 | 235,307.616 | 109.91 | EUR |
| - D2 | 312,964.378 | 110.26 | EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 789.522,046 168.547,707 79.558,617 276.839,337 238.307,102 392.638,680 | 93,83 98,44 99,00 99,45 94,39 94,83 | EUR EUR EUR EUR EUR EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 788.037,305 168.296,795 79.558,617 276.839,337 238.307,102 393.153,825 | 96,12 100,84 101,43 101,91 96,70 97,17 | EUR EUR EUR EUR EUR EUR |

| Sustainable Medium (EUR) | 31.12.2020 31.12.2021 31.12.2022 23.01.2023 (*) | 694,803,027.27 1,402,280,237.24 1.322.173.843,86 1.372.661.236,20 | - A | 2,481,141.271 | 117.68 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 750,146.955 | 120.63 | EUR |
| - C1 | 320,161.406 | 120.95 | EUR |
| - C2 | 647,445.777 | 121.22 | EUR |
| - D1 | 618,396.750 | 117.99 | EUR |
| - D2 | 1,033,065.587 | 118.26 | EUR |
| - A | 4,548,396.978 | 130.70 | EUR |
| - B | 1,455,587.647 | 135.16 | EUR |
| - C1 | 529,968.821 | 135.92 | EUR |
| - C2 | 1,146,882.158 | 136.44 | EUR |
| - D1 | 1,167,294.287 | 131.43 | EUR |
| - D2 | 1,736,966.947 | 131.93 | EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 4.777.180,877 1.751.920,593 549.667,193 1.663.564,944 1.487.451,088 1.900.266,567 | 106,88 111,47 112,44 113,08 107,80 108,42 | EUR EUR EUR EUR EUR EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 4.800.108,503 1.760.665,255 549.667,193 1.665.284,944 1.486.618,088 1.894.297,637 | 110,75 115,43 116,45 117,14 111,65 112,31 | EUR EUR EUR EUR EUR EUR |

(*) date of last NAV calculation
| Sub-Fund | Valuation date | Total Net Assets | Share Class | Shares Outstanding | SHARE VALUE | CCY |
| --- | --- | --- | --- | --- | --- | --- |

| Sustainable High (EUR) | 31.12.2020 31.12.2021 31.12.2022 23.01.2023 (*) | 322,049,215.34 689,708,556.25 625.002.212,95 653.851.827,51 | - A | 686,906.320 | 129.65 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 237,110.940 | 131.82 | EUR |
| - C1 | 97,983.658 | 132.06 | EUR |
| - C2 | 914,000.416 | 132.38 | EUR |
| - D1 | 175,093.116 | 130.08 | EUR |
| - D2 | 345,312.690 | 130.40 | EUR |
| - A | 1,318,290.812 | 155.17 | EUR |
| - B | 585,298.038 | 158.91 | EUR |
| - C1 | 138,298.001 | 159.69 | EUR |
| - C2 | 918,921.759 | 160.40 | EUR |
| - D1 | 354,253.861 | 156.16 | EUR |
| - D2 | 1,066,795.927 | 156.86 | EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 1.334.467,192 892.921,559 170.106,862 809.747,139 524.906,760 1.189.494,431 | 124,39 128,75 129,77 130,60 125,55 126,37 | EUR EUR EUR EUR EUR EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 1.340.146,093 892.829,409 169.706,862 811.227,139 521.544,505 1.191.061,337 | 129,98 134,54 135,63 136,52 131,22 132,09 | EUR EUR EUR EUR EUR EUR |

(*) date of last NAV calculation

### NOTE 1 - ACCOUNTING PRINCIPLES AND METHODS
The financial statements of the SICAV are prepared in accordance with the legal and regulatory requirements in force in Luxembourg relating to Undertakings for Collective Investment, on the basis of the official net asset value calculated at the end of the financial year.
- Securities portfolio valuation and derivativesThe shares or units of undertakings for collective investment are valued based on their final available net asset value on 30 June 2023 or unofficial net asset value if this is more recent (based on a likely net asset value estimated prudently and in good faith by the Board of Directors or based on other sources such as information provided by the manager of said UCI).

Securities and derivatives listed on an official stock exchange are valued on the basis of the last closing price available on 30 June 2023 and, if there is more than one market, on basis of the last closing price of the relevant security's main market. If the last known closing price on the specified valuation day is not representative, the valuation will be based on the probable realisable value estimated prudently and in good faith.
Forward foreign exchange contracts are valued on the basis of the "forward" closing rates as at 30 June 2023.
- Net realised gain or loss on investmentsThe net capital gain or loss realised on sales of securities is calculated based on the average cost of the securities sold.

The amounts of net realised gains or losses attributable to changes in exchange rates are recognised in "Net realised exchange gains or losses" at the time of the sale.
- Conversion of foreign currenciesThe accounts of the SICAV are in EUR. Cash at Banks, other net assets as well as market value of the securities in portfolio in other currencies than the EUR are converted in EUR at the exchange rate prevailing on closing date.

Revenue and expenditure in currencies other than the EUR are translated into euros at the exchange rate in force on the date of payment.
- 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 on the day of purchase.
- Change in the net unrealised gain and lossChanges in unrealised appreciations or depreciations on all components of the statement of net assets at the end of the financial period are accounted for in the statement of operations and changes in net assets.
- Change in the securities portfolioThe table of changes in the securities portfolio is available at no cost from the registered office of the SICAV.
- Income, expenditure and related provisionsThe interests are recorded every day and dividends are recorded in the "ex-date". The interests and the income are recorded net of the not recoverable movable deductions.

When the SICAV deals with expenses concerning a sub-fund in particular, the latter are assigned to this sub-fund. The expenses not attributable to a sub-fund in particular is distributed between the various sub-funds in the pro missed some net value of net asset value of every sub-fund.
- Combined financial statementsThe combined financial statements are drawn up in EUR and are equal to the sum of the corresponding headings in the financial statements of each sub-fund.


### NOTE 2 - TAXES AND EXPENSES PAYABLE
| Management fees Depositary fees Subscription tax Miscellaneous fees | 1,000,674.77	EUR 12,218.13	EUR 3,969.70	EUR 116,224.48	EUR |
| --- | --- |
| Total | 1.133.699,31	EUR |

NOTE 3 - MANAGEMENT FEES
In return for its services, the Management Company receives an annual fee from the SICAV, based on the rates presented in the following table. This fee is payable on a quarterly basis and calculated based on the average net assets for each class of shares in each sub-fund during the quarter under review.
The manager is paid by the Management Company on the latter's remuneration.
| Sub-funds | Share classes | Management fee rates |
| --- | --- | --- |
| TPF Flexible | A | Max. 0,90% p.a |
| TPF Flexible | B | Max. 0,90% p.a |
| TPF Flexible | C1 | Max. 0,75% p.a |
| TPF Flexible | C2 | Max. 0,55% p.a |
| TPF Flexible | D1 | Max. 0,75% p.a |
| TPF Flexible | D2 | Max. 0,55% p.a |
| TPF Medium | A | Max. 1,00% p.a |
| TPF Medium | B | Max. 1,00% p.a |
| TPF Medium | C1 | Max. 0,80% p.a. |
| TPF Medium | C2 | Max. 0,60% p.a |
| TPF Medium | D1 | Max. 0,80% p.a. |
| TPF Medium | D2 | Max. 0,60% p.a |

| The activity of a sub-fund investing in other OPCVM and/or other OPC may result in the duplication of certain fees. In addition to the expenses incurred by the sub-fund as part of its day-to-day management, overheads and management fees will be indirectly charged to the sub-fund's assets through the OPCVM and / or other target OPC it holds. The cumulative management fees may not exceed 5%. When the SICAV invests in units of other OPCVM and/or other OPC which are managed, directly or by delegation, by the same Management Company or by any other company to which the Management Company is related in the Management Company or the other company may not charge any subscription or redemption fees for the investment of the SICAV in the shares of a management or control community or by a significant direct or indirect participation. other OPCVM and/or other OPC. This does not apply to any subscription or redemption fees charged to the exclusive benefit of these other OPCVM or OPC, which are fully paid to them. |
| --- |
| NOTE 4 - SUBSCRIPTION TAX |
| The SICAV is governed by the Luxembourg tax laws. Under current legislation and regulations, the SICAV is subject in Luxembourg to the subscription tax at the annual rate of 0.05%. This tax is payable quarterly and is calculated on the net assets of the SICAV at the end of each quarter. The subscription fee is not payable on the shares of assets invested in undertakings for collective investment already subject to the application of this tax. As the SICAV is registered in Belgium, it is subject to a tax at the annual rate of 0.0925% calculated for the year 2022 on the basis of the value of the shares distributed in Belgium as determined on 31 December 2021. |
| NOTE 5 - ADMINISTRATION FEES |
| As remuneration for its services of Domiciliary Agent, Administrative Agent, Transfert Agent and Registrar Agent, Degroof Petercam Asset Services S.A. receives from each sub-fund, the following fees: - an annual fee at the annual rate of maximum 0.045%, payable quarterly and calculated on the average Net Asset Value of the relevant sub-fund during the quarter under review;
- a fixed annual fee of EUR 2,000.00 per active share class.
 |
| NOTE 6 - DEPOSITARY FEES |
| As remuneration for its services and until 28 February 2022, the Custodian Bank receives from each sub-fund an annual fee at the maximum rate of 0.01%. This fee is payable quarterly and calculated on basis of the average net assets of each sub-fund during the quarter under review. In addition to this rate, the Depositary Bank receives the following amounts: - EUR 35 per security transaction, plus applicable VAT
- EUR 250 per tax claim, plus applicable VAT
 |
| NOTE 7 - OTHER INCOME |
| The "other income" item is mainly composed of retrocessions on management fees charged by the investment funds invested by the sub-funds. |


### NOTE 8 - FUTURES
Futures contracts are valued by the broker on each bank business day. Unrealized gains/(losses) arising from futures contracts open at the balance sheet date are recorded directly in bank balances. Any change in the margin call not yet transferred to bank balances at the balance sheet date is reflected in the account "Receivable from/(payable to) futures broker".
As at 30 June 2023, the following futures are deal with Banque Degroof Petercam Luxembourg S.A.: TPF Medium :
| CCY | Number of CONTRACTS | Description | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- |

| EUR | -36 | EURO STOXX 50 FUTURE |  | -21,150.00 | 1,583,672.40 |
| --- | --- | --- | --- | --- | --- |
| USD | -6 | S&P E-MINI 500 IDX FUTURE |  | -27,525.21 | 1,223,752.52 |
| USD | 36 | US 10Y NOTE FUTURE S |  | -38,153.24 | 3,704,456.92 |
|  |  |  | Total | -86,828.45 | 6,511,881.84 |

Under this future contract, the sub-fund TPF Low maintained a guaranty deposit of EUR 222.077,48 with Banque Degroof Petercam Luxembourg S.A. in favour of the counterparty at the closing date. This guaranty deposit is intended to cover market risks in the event of unfavourable daily changes in the prices of future contracts purchased or sold.

### NOTE 9 - DIVIDENDS
On 24 April 2023, the Board of Directors of the SICAV decided to pay the following dividends to the distribution shares of the following compartments:
| Sub-fund | Class | ISIN | Currency | Amount per share |
| --- | --- | --- | --- | --- |
| TPF Flexible | A | LU1063886102 | EUR | 0,79 |
| TPF Flexible | D1 | LU1862519383 | EUR | 0,79 |
| TPF Flexible | D2 | LU1862519540 | EUR | 0,80 |
| TPF Medium | A | LU1378809203 | EUR | 1,90 |
| TPF Medium | D1 | LU1862520399 | EUR | 1,91 |
| TPF Medium | D1 | LU1862520555 | EUR | 1,92 |

The shares were quoted ex-dividend as of 10 May 2023. Payment was made on 17 May 2023.

### NOTE 10 - EVENTS OCCURRING DURING THE PERIOD
The Board of Directors of the SICAV SELECT GLOBAL has decided to merge the sub-funds Sustainable Low, Sustainable Medium and Sustainable High (the "Absorbed sub-funds") with the sub-funds DP PATRIMONIAL - Sustainable Low, DP PATRIMONIAL - Sustainable Medium and DP PATRIMONIAL - Sustainable High sub-funds of the DP PATRIMONIAL SICAV (the "Absorbing sub-funds") with effect from 23 January 2023.

#### Impact of the Russian invasion of Ukraine:
Although energy prices have fallen compared with the start of the conflict, the European economy remains fragile due to its overdependence on gas and oil. Further rises in commodity prices cannot be ruled out. Energy prices remain one of the main channels for transmitting risk in the global economy, notably through
inflation. Although it has peaked in both Europe and the USA, inflation could remain persistently higher than in the last two decades. As a result, central banks have raised interest rates sharply, but the hikes may not be over yet. This is a difficult balancing act for central banks, as it can be dangerous to tighten monetary policy too much to contain inflation and push the economy into recession at the same time.
Russia has isolated itself from Western economies, and the negative effects of economic sanctions could begin to be felt in Russia over the coming months. We can't rule out a consequent hardening of the conflict, which could produce further negative effects.
It is virtually impossible for Russia to regain its former position in equity or bond indices. This war will leave its mark for a long time to come, but it's impossible to predict a short- or medium-term scenario. The informed investor will take all these uncertainties into account when considering his investments.
| OVERALL RISK ASSESSMENT |
| --- |
| Each sub-fund of the SICAV must ensure that its overall exposure to derivatives does not exceed the total net value of its portfolio. Overall exposure is a measurement designed to limit the leverage generated for each subfund by using derivatives. The method used to calculate overall exposure for each sub-fund within the SICAV is the «commitment method». The commitment method involves converting positions on derivatives into equivalent positions on underlying assets and then aggregating the market value of these equivalent positions. According to the commitment methodology, the maximum level of derivative leverage is 100%. |
| Transparency of securities financing transactions and reuse ("SFTR") In accordance with Article 13 and Section A of the Annex to Regulation EU 2015/2365 (hereinafter the "Regulation"), the SICAV must inform investors of its use of securities financing transactions and total return swaps in the annual and semi-annual reports. The portfolio does not contain any assets on loan as of the date of this report. |

Translation (ENFR, 2023-06-30):
# du 1 janvier 2023 au 30 juin 2023
|  |  |  |
| --- | --- | --- |
|  | Notes | Combiné (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 261.223,67 |
| Intérêts sur obligations | 1g | 80.046,15 |
| Intérêts créditeurs |  | 196.010,65 |
| Autres revenus | 7 | 112.619,72 |
| Total Revenus |  | 649.900,19 |
| Charges |  |  |
| Commission de gestion | 3 | 2.891.541,44 |
| Commission de banque dépositaire | 6 | 39.666,43 |
| Taxe d'abonnement | 4 | 384.876,51 |
| Frais d'administration | 5 | 301.734,32 |
| Frais et commissions divers |  | 47.327,94 |
| Frais de transactions |  | 73.988,66 |
| Intérêts débiteurs |  | 8.863,94 |
| Redevance aux autorités étrangères |  | 1.500,00 |
| Total Charges |  | 3.749.499,24 |
| Revenus / Pertes Net(te)s |  | -3.099.599,05 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -24.721.305,13 |
| - sur devises |  | -461.699,06 |
| - sur futures |  | -1.824.265,56 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -30.106.868,80 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 132.135.196,54 |
| - sur devises |  | -127.862,37 |
| - sur futures |  | -3.605.695,22 |
| Résultat net des opérations |  | 98.294.770,15 |
| - Souscriptions |  | 8.166.598,25 |
| - Rachats (*) | 9 | -2.265.816.945,81 |
| Dividendes payés | -1.500.491,76 |
| Variations de l'actif net |  | -2.170.856.069,17 |
| Actif net au début de la période |  | 2.647.701.080,37 |
| Actif net à la fin de la période |  | 486.845.011,20 |

(*) voir note 10 concernant la fusion
|  |
| --- |
| TPF Flexible |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 392.048.709,21 |
| Avoirs en banque |  | 4.080.725,91 |
| Intérêts à recevoir sur compte courant |  | 12.297,29 |
| Montants à recevoir sur ventes de titres |  | 2.055.230,00 |
| Dépôts de garantie sur futures | 8 | 0,00 |
| Taxes et frais payés d'avance |  | 188.876,90 |
| Total Actif |  | 398.385.839,31 |
| Exigible |  |  |
| Taxes et frais à payer | 2 | 917.955,57 |
| Découverts en banque |  | 0,00 |
| Intérêts débiteurs à payer |  | 0,00 |
| Montants à payer sur rachats |  | 421.693,98 |
| Dépôts de garantie sur futures | 8 | 0,00 |
| Total Exigible |  | 1.339.649,55 |
| Actif net à la fin de la période |  | 397.046.189,76 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A |  | 557.743,065 |
| - B |  | 1.483.156,715 |
| - C1 |  | 277.059,743 |
| - C2 |  | 523.174,424 |
| - D1 |  | 98.152,502 |
| - D2 |  | 128.381,025 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A |  | 122,14 |
| - B |  | 131,30 |
| - C1 |  | 132,10 |
| - C2 |  | 133,08 |
| - D1 |  | 122,90 |
| - D2 |  | 123,81 |

|  |
| --- |
| TPF Medium |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 86.677.014,64 |
| Avoirs en banque |  | 3.075.198,68 |
| Intérêts à recevoir sur compte courant |  | 6.180,71 |
| Montants à recevoir sur ventes de titres |  | 0,00 |
| Dépôts de garantie sur futures | 8 | 223.032,81 |
| Taxes et frais payés d'avance |  | 44.184,29 |
| Total Actif |  | 90.025.611,13 |
| Exigible |  |  |
| Taxes et frais à payer | 2 | 215.743,74 |
| Découverts en banque |  | 9.796,06 |
| Intérêts débiteurs à payer |  | 294,56 |
| Montants à payer sur rachats |  | 0,00 |
| Dépôts de garantie sur futures | 8 | 955,33 |
| Total Exigible |  | 226.789,69 |
| Actif net à la fin de la période |  | 89.798.821,44 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A |  | 262.469,424 |
| - B |  | 55.274,342 |
| - C1 |  | 21.251,391 |
| - C2 |  | 247.875,000 |
| - D1 |  | 75.019,348 |
| - D2 |  | 103.240,618 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A |  | 113,28 |
| - B |  | 120,77 |
| - C1 |  | 121,64 |
| - C2 |  | 122,54 |
| - D1 |  | 114,12 |
| - D2 |  | 114,98 |

|  |
| --- |
| TPF Flexible |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 0,00 |
| Intérêts sur obligations | 1g | 0,00 |
| Intérêts créditeurs |  | 74.347,95 |
| Autres revenus | 7 | 108.896,83 |
| Total Revenus |  | 183.244,78 |
| Charges |  |  |
| Commission de gestion | 3 | 1.650.399,05 |
| Commission de banque dépositaire | 6 | 20.821,23 |
| Taxe d'abonnement | 4 | 187.001,78 |
| Frais d'administration | 5 | 159.386,52 |
| Frais et commissions divers |  | 21.408,43 |
| Frais de transactions |  | 805,00 |
| Intérêts débiteurs |  | 0,01 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total Charges |  | 2.039.822,02 |
| Revenus / Pertes Net(te)s |  | -1.856.577,24 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 9.133.315,43 |
| - sur devises |  | 0,00 |
| - sur futures |  | 0,00 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 7.276.738,19 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 5.818.470,45 |
| - sur devises |  | 0,00 |
| - sur futures |  | 0,00 |
| Résultat net des opérations |  | 13.095.208,64 |
| - Souscriptions |  | 1.605.066,88 |
| - Rachats |  | -36.967.745,89 |
| Dividendes payés | 9 | -631.374,01 |
| Variations de l'actif net |  | -22.898.844,38 |
| Actif net au début de la période |  | 419.945.034,14 |
| Actif net à la fin de la période |  | 397.046.189,76 |

Les notes annexées font partie intégrante de ces états financiers.
|  |
| --- |
| TPF Medium |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 0,00 |
| Intérêts sur obligations | 1g | 0,00 |
| Intérêts créditeurs |  | 40.618,73 |
| Autres revenus | 7 | 3.722,89 |
| Total Revenus |  | 44.341,62 |
| Charges |  |  |
| Commission de gestion | 3 | 373.262,31 |
| Commission de banque dépositaire | 6 | 4.905,27 |
| Taxe d'abonnement | 4 | 47.475,83 |
| Frais d'administration | 5 | 43.301,87 |
| Frais et commissions divers |  | 17.212,32 |
| Frais de transactions |  | 5.705,34 |
| Intérêts débiteurs |  | 2.367,30 |
| Redevance aux autorités étrangères |  | 1.500,00 |
| Total Charges |  | 495.730,24 |
| Revenus / Pertes Net(te)s |  | -451.388,62 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 2.632.281,96 |
| - sur devises |  | -38.741,82 |
| - sur futures |  | -282.514,06 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 1.859.637,46 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 3.412.624,29 |
| - sur devises |  | -127.862,37 |
| - sur futures |  | -266.713,74 |
| Résultat net des opérations |  | 4.877.685,64 |
| - Souscriptions |  | 178.779,50 |
| - Rachats |  | -9.159.155,88 |
| Dividendes payés | 9 | -869.117,75 |
| Variations de l'actif net |  | -4.971.808,49 |
| Actif net au début de la période |  | 94.770.629,93 |
| Actif net à la fin de la période |  | 89.798.821,44 |

|  |
| --- |
| Sustainable Low |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 10.878,39 |
| Intérêts sur obligations | 1g | 10.351,73 |
| Intérêts créditeurs |  | 2.910,91 |
| Autres revenus | 7 | 0,00 |
| Total Revenus |  | 24.141,03 |
| Charges |  |  |
| Commission de gestion | 3 | 86.717,56 |
| Commission de banque dépositaire | 6 | 1.323,60 |
| Taxe d'abonnement | 4 | 11.670,25 |
| Frais d'administration | 5 | 9.785,14 |
| Frais et commissions divers |  | 3.176,47 |
| Frais de transactions |  | 2.669,66 |
| Intérêts débiteurs |  | 637,83 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total Charges |  | 115.980,51 |
| Revenus / Pertes Net(te)s |  | -91.839,48 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -11.781.278,97 |
| - sur devises |  | -31.473,25 |
| - sur futures |  | 2.761,94 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -11.901.829,76 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 17.235.697,23 |
| - sur devises |  | 0,00 |
| - sur futures |  | -775.002,05 |
| Résultat net des opérations |  | 4.558.865,42 |
| - Souscriptions |  | 345.021,19 |
| - Rachats (*) |  | -190.713.246,10 |
| Dividendes payés | 9 | 0,00 |
| Variations de l'actif net |  | -185.809.359,49 |
| Actif net au début de la période |  | 185.809.359,49 |
| Actif net à la fin de la période |  | 0,00 |

(*) voir note 10 concernant la fusion
|  |
| --- |
| Sustainable Medium |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 163.282,49 |
| Intérêts sur obligations | 1g | 58.453,50 |
| Intérêts créditeurs |  | 60.178,76 |
| Autres revenus | 7 | 0,00 |
| Total Revenus |  | 281.914,75 |
| Charges |  |  |
| Commission de gestion | 3 | 393.998,16 |
| Commission de banque dépositaire | 6 | 8.553,78 |
| Taxe d'abonnement | 4 | 92.586,05 |
| Frais d'administration | 5 | 59.651,44 |
| Frais et commissions divers |  | 2.601,11 |
| Frais de transactions |  | 38.446,74 |
| Intérêts débiteurs |  | 3.907,75 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total Charges |  | 599.745,03 |
| Revenus / Pertes Net(te)s |  | -317.830,28 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | -37.437.742,68 |
| - sur devises |  | -332.784,70 |
| - sur futures |  | -1.080.357,48 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | -39.168.715,14 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 88.493.874,30 |
| - sur devises |  | 0,00 |
| - sur futures |  | -1.785.831,49 |
| Résultat net des opérations |  | 47.539.327,67 |
| - Souscriptions |  | 4.379.028,06 |
| - Rachats (*) |  | -1.374.092.199,59 |
| Dividendes payés | 9 | 0,00 |
| Variations de l'actif net |  | -1.322.173.843,86 |
| Actif net au début de la période |  | 1.322.173.843,86 |
| Actif net à la fin de la période |  | 0,00 |

(*) voir note 10 concernant la fusion
|  |
| --- |
| Sustainable High |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1g | 87.062,79 |
| Intérêts sur obligations | 1g | 11.240,92 |
| Intérêts créditeurs |  | 17.954,30 |
| Autres revenus | 7 | 0,00 |
| Total Revenus |  | 116.258,01 |
| Charges |  |  |
| Commission de gestion | 3 | 387.164,36 |
| Commission de banque dépositaire | 6 | 4.062,55 |
| Taxe d'abonnement | 4 | 46.142,60 |
| Frais d'administration | 5 | 29.609,35 |
| Frais et commissions divers |  | 2.929,61 |
| Frais de transactions |  | 26.361,92 |
| Intérêts débiteurs |  | 1.951,05 |
| Redevance aux autorités étrangères |  | 0,00 |
| Total Charges |  | 498.221,44 |
| Revenus / Pertes Net(te)s |  | -381.963,43 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 12.732.119,13 |
| - sur devises |  | -58.699,29 |
| - sur futures |  | -464.155,96 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 11.827.300,45 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | 17.174.530,27 |
| - sur devises |  | 0,00 |
| - sur futures |  | -778.147,94 |
| Résultat net des opérations |  | 28.223.682,78 |
| - Souscriptions |  | 1.658.702,62 |
| - Rachats (*) |  | -654.884.598,35 |
| Dividendes payés | 9 | 0,00 |
| Variations de l'actif net |  | -625.002.212,95 |
| Actif net au début de la période |  | 625.002.212,95 |
| Actif net à la fin de la période |  | 0,00 |

(*) voir note 10 concernant la fusion
|  |
| --- |
| TPF Flexible |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Fonds d'investissements |  |  |  |  |  |
| AMUNDI INTERNATIONAL -CAP- | 29.513 | EUR | 44.522.028,42 | 73.467.006,03 | 18,50% |
| AXA WORLD FUNDS GLOBAL OPTIMAL INC. -I- | 500.305 | EUR | 78.143.321,34 | 73.739.953,95 | 18,57% |
| BL GLOBAL FLEXIBLE EUR -CAP- | 68.563 | EUR | 52.168.596,69 | 73.401.019,39 | 18,49% |
| FLOSSBACH VON STORCH MULTI OPP -II- | 440.945 | EUR | 55.127.632,46 | 74.475.610,50 | 18,76% |
| M&G LUX INVESTMENT DYNAMIC ALLOCATION -CI- -CAP- | 2.163.465 | EUR | 20.823.932,84 | 23.278.667,05 | 5,86% |
| NORDEA 1 STABLE RETURN CCY -CAP- | 3.768.145 | EUR | 63.633.244,55 | 73.686.452,29 | 18,56% |
| Total EURO |  |  | 314.418.756,30 | 392.048.709,21 | 98,74% |
| Total Fonds d'investissements |  |  | 314.418.756,30 | 392.048.709,21 | 98,74% |
| Total du Portefeuille-Titres |  |  | 314.418.756,30 | 392.048.709,21 | 98,74% |

Les notes annexées font partie intégrante de ces états financiers.
|  |
| --- |
| TPF Medium |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Fonds d'investissements |  |  |  |  |  |
| AMUNDI EUROP EQUIT. VALUE J2 -EUR- -CAP- | 4.275 | EUR | 3.997.152,85 | 5.262.627,96 | 5,86% |
| AXA GLOBAL INFLATION BOND -I- -CAP- | 7.660 | EUR | 1.190.110,03 | 1.125.407,20 | 1,25% |
| COMGEST GROWTH EUROPE -I- EUR -CAP- | 111.894 | EUR | 3.398.152,85 | 4.888.648,86 | 5,44% |
| DWS INVESTMENT EURO CORP. BDS IC 100 -CAP- | 57.525 | EUR | 5.696.691,06 | 5.646.078,75 | 6,29% |
| HENDERSON HORIZON PAN EUROPEAN SM GU2 EUR | 34.519 | EUR | 1.785.986,75 | 2.416.332,80 | 2,69% |
| INVESCO GLOBAL TOTAL RETURN BOND -Z- -CAP- | 443.531 | EUR | 4.626.549,72 | 4.690.292,48 | 5,22% |
| JP MORGAN -F- EU GOVT BOND -I- EUR -CAP- | 90.900 | EUR | 11.166.400,88 | 10.077.355,80 | 11,22% |
| KEMPEN INTERNATIONAL LUX EURO CREDIT -I- -CAP- | 2.520 | EUR | 3.654.675,66 | 3.398.875,20 | 3,78% |
| MFS MERIDIAN EUROPEAN VALUE FUND -I1- | 11.905 | EUR | 3.673.686,39 | 5.274.153,10 | 5,87% |
| SHRODER INTERNATIONAL SEL FUND GLOBAL BOND Z -CAP- | 396.864 | EUR | 4.868.187,36 | 4.537.386,60 | 5,05% |
| THREADNEEDLE EUROP HIGH YIELD -B- 9E | 95.700 | EUR | 968.474,82 | 992.265,45 | 1,10% |
| Total EURO |  |  | 45.026.068,37 | 48.309.424,20 | 53,80% |
| NOMURA IRELAND JAPAN STRATEGIC VALUE -R- | 19.609 | JPY | 1.858.964,87 | 2.313.086,36 | 2,58% |
| Total YEN JAPONAIS |  |  | 1.858.964,87 | 2.313.086,36 | 2,58% |
| ALGEGWU LX GROUP CLASSE -CAP- | 2.470 | USD | 2.041.632,46 | 2.030.652,43 | 2,26% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 1.530 | USD | 1.800.524,41 | 1.576.839,60 | 1,76% |
| AMUNDI EMERGING MARKETS LOCAL CCY -I- | 3.440 | USD | 2.934.869,85 | 3.002.826,76 | 3,34% |
| BROWN ADV US SUST GR | 137.000 | USD | 1.814.829,90 | 1.819.550,87 | 2,03% |
| FED HER INVESTMENT GLOBAL EMERGING MARKET EQUIT. -L- USD -CAP- | 1.249.978 | USD | 2.858.577,40 | 3.177.418,96 | 3,54% |
| FRANKLIN TEMPELTON INVESTMENT ASIAN SMALLER COMPANIES - S- -CAP- | 125.466 | USD | 1.120.777,64 | 1.472.013,97 | 1,64% |
| HEPTAGON DRIEHAUS US SMALL CAP -I- US | 19.700 | USD | 2.251.118,46 | 1.893.800,18 | 2,11% |
| HEPTAGON FUND ICAV YACKTMAN US EQUIT. | 24.098 | USD | 2.728.276,58 | 3.394.482,71 | 3,78% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 29.550 | USD | 3.307.236,05 | 2.949.312,10 | 3,28% |
| NORDEA1 US CORP STAR | 10.300 | USD | 993.136,35 | 968.224,55 | 1,08% |
| POLEN CAPITAL FOCUS U.S. GROWTH US -DIS- | 372.518 | USD | 4.677.665,76 | 5.237.787,46 | 5,83% |
| ROBECO CAP GROWTH BP GLOBAL PREMIUM EQUIT. -I- | 12.680 | USD | 1.449.095,17 | 2.135.260,86 | 2,38% |
| SISF EM MRKT EQ ALPH | 15.400 | USD | 1.676.050,39 | 1.621.392,74 | 1,81% |
| SMEAD US VALUE UCITS FUND -I -B- -CAP- | 6.550 | USD | 3.762.267,71 | 3.874.706,23 | 4,31% |
| Total DOLLAR DES ETATS-UNIS |  |  | 33.416.058,13 | 35.154.269,42 | 39,15% |
| Total Fonds d'investissements |  |  | 80.301.091,37 | 85.776.779,98 | 95,52% |
| Autres valeurs mobilières |  |  |  |  |  |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 5.306 | USD | 780.150,79 | 895.697,54 | 1,00% |
| Total DOLLAR DES ETATS-UNIS |  |  | 780.150,79 | 895.697,54 | 1,00% |
| Total Autres valeurs mobilières |  |  | 780.150,79 | 895.697,54 | 1,00% |

|  |
| --- |
| TPF Medium |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Options |  |  |  |  |  |
| PUT S&P AOUT 2023 3,750. | -11 | USD | -56.366,20 | -4.335,47 | -0,00% |
| PUT S&P AOUT 2023 4,000. | 11 | USD | 102.372,28 | 8.872,59 | 0,01% |
| Total DOLLAR DES ETATS-UNIS |  |  | 46.006,08 | 4.537,12 | 0,01% |
| Total Options |  |  | 46.006,08 | 4.537,12 | 0,01% |
| Total du Portefeuille-Titres |  |  | 81.127.248,24 | 86.677.014,64 | 96,52% |

(Content)
| TPF Flexible | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| LUXEMBOURG | 98,74 % |
| Total du Portefeuille-Titres | 98,74 % |

(Content)
| TPF Medium | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| LUXEMBOURG | 70,21 % |
| IRLANDE | 25,31 % |
| JERSEY | 1,00 % |
| Total du Portefeuille-Titres | 96,52 % |

| TPF Flexible | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 98,74 % |
| Total du Portefeuille-Titres | 98,74 % |

| TPF Medium | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 95,52 % |
| SERVICES FINANCIERS - HOLDINGS | 1,00 % |
| Total du Portefeuille-Titres | 96,52 % |

| TPF Flexible | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 98,74 % |
| Total du Portefeuille-Titres | 98,74 % |

| TPF Medium | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 53,79 % |
| DOLLAR DES ETATS-UNIS | 40,15 % |
| YEN JAPONAIS | 2,58 % |
| Total du Portefeuille-Titres | 96,52 % |

TPF Flexible
| Actions en circulation au début de la période	- A | 601.385,379 |
| --- | --- |
| - B | 1.574.286,467 |
| - C1 | 287.161,781 |
| - C2 | 624.937,423 |
| - D1 | 125.658,620 |
| - D2 | 128.381,025 |
| Actions émises au cours de la période	- A | 2.627,463 |
| - B | 3.692,848 |
| - C1 | 6.190,000 |
| - C2 | 0,000 |
| - D1 | 0,000 |
| - D2 | 0,000 |
| Actions remboursées au cours de la période	- A | 46.269,777 |
| - B | 94.822,600 |
| - C1 | 16.292,038 |
| - C2 | 101.762,999 |
| - D1 | 27.506,118 |
| - D2 | 0,000 |
| Actions en circulation à la fin de la période	- A | 557.743,065 |
| - B | 1.483.156,715 |
| - C1 | 277.059,743 |
| - C2 | 523.174,424 |
| - D1 | 98.152,502 |
| - D2 | 128.381,025 |

TPF Medium
| Actions en circulation au début de la période	- A | 286.722,091 |
| --- | --- |
| - B | 54.339,342 |
| - C1 | 21.251,391 |
| - C2 | 299.175,000 |
| - D1 | 75.019,348 |
| - D2 | 104.705,618 |
| Actions émises au cours de la période	- A | 272,000 |
| - B | 935,000 |
| - C1 | 0,000 |
| - C2 | 0,000 |
| - D1 | 0,000 |
| - D2 | 335,000 |
| Actions remboursées au cours de la période	- A | 24.524,667 |
| - B | 0,000 |
| - C1 | 0,000 |
| - C2 | 51.300,000 |
| - D1 | 0,000 |
| - D2 | 1.800,000 |
| Actions en circulation à la fin de la période	- A | 262.469,424 |
| - B | 55.274,342 |
| - C1 | 21.251,391 |
| - C2 | 247.875,000 |
| - D1 | 75.019,348 |
| - D2 | 103.240,618 |

Sustainable Low
| Actions en circulation au début de la période	- A | 789.522,046 |
| --- | --- |
| - B | 168.547,707 |
| - C1 | 79.558,617 |
| - C2 | 276.839,337 |
| - D1 | 238.307,102, |
| - D2 | 392.638,680 |
| Actions émises au cours de la période	- A | 1.622,647 |
| - B | 1.399,973 |
| - C1 | 0,000 |
| - C2 | 0,000 |
| - D1 | 0,000 |
| - D2 | 515,145 |
| Actions remboursées au cours de la période	- A | 791.144,693 |
| - B | 169.947,680 |
| - C1 | 79.558,617 |
| - C2 | 276.839,337 |
| - D1 | 238.307,102 |
| - D2 | 393.153,825 |
| Actions en circulation à la fin de la période	- A | - |
| - B | - |
| - C1 | - |
| - C2 | - |
| - D1 | - |
| - D2 | - |

Sustainable Medium
| Actions en circulation au début de la période	- A | 4.777.180,877 |
| --- | --- |
| - B | 1.751.920,593 |
| - C1 | 549.667,193 |
| - C2 | 1.663.564,944 |
| - D1 | 1.487.451,088 |
| - D2 | 1.900.266,567 |
| Actions émises au cours de la période	- A | 26.907,777 |
| - B | 10.351,016 |
| - C1 | 0,000 |
| - C2 | 1.720,000 |
| - D1 | 0,000 |
| - D2 | 446,070 |
| Actions remboursées au cours de la période	- A | 4.804.088,654 |
| - B | 1.762.271,609 |
| - C1 | 549.667,193 |
| - C2 | 1.665.284,944 |
| - D1 | 1.487.451,088 |
| - D2 | 1.900.712,637 |
| Actions en circulation à la fin de la période	- A | - |
| - B | - |
| - C1 | - |
| - C2 | - |
| - D1 | - |
| - D2 | - |

Sustainable High
| Actions en circulation au début de la période	- A | 1.334.467,192 |
| --- | --- |
| - B | 892.921,559 |
| - C1 | 170.106,862 |
| - C2 | 809.747,139 |
| - D1 | 524.906,760 |
| - D2 | 1.189.494,431 |
| Actions émises au cours de la période	- A | 6.900,651 |
| - B | 2.242,764 |
| - C1 | 0,000 |
| - C2 | 1.480,000 |
| - D1 | 554,425 |
| - D2 | 1.566,906 |
| Actions remboursées au cours de la période	- A | 1.341.367,843 |
| - B | 895.164,323 |
| - C1 | 170.106,862 |
| - C2 | 811.227,139 |
| - D1 | 525.461,185 |
| - D2 | 1.191.061,337 |
| Actions en circulation à la fin de la période	- A | - |
| - B | - |
| - C1 | - |
| - C2 | - |
| - D1 | - |
| - D2 | - |

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

| TPF Flexible (EUR) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 580.971.026,86 519.249.431,14 419.945.034,14 397.046.189,76 | - A | 862.638,311 | 122,10 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 2.204.565,023 | 128,60 | EUR |
| - C1 | 429.980,279 | 128,90 | EUR |
| - C2 | 801.235,729 | 129,21 | EUR |
| - D1 | 140.708,814 | 122,39 | EUR |
| - D2 | 130.074,000 | 122,69 | EUR |
| - A | 671.642,034 | 132,83 | EUR |
| - B | 1.798.726,228 | 141,26 | EUR |
| - C1 | 341.566,799 | 141,79 | EUR |
| - C2 | 678.560,729 | 142,42 | EUR |
| - D1 | 130.888,467 | 133,35 | EUR |
| - D2 | 100.199,000 | 133,94 | EUR |
| - A | 601.385,379 | 119,21 | EUR |
| - B | 1.574.286,467 | 127,33 | EUR |
| - C1 | 287.161,781 | 128,00 | EUR |
| - C2 | 624.937,423 | 128,82 | EUR |
| - D1 | 125.658,620 | 119,86 | EUR |
| - D2 | 128.381,025 | 120,63 | EUR |
| - A | 557.743,065 | 122,14 | EUR |
| - B | 1.483.156,715 | 131,30 | EUR |
| - C1 | 277.059,743 | 132,10 | EUR |
| - C2 | 523.174,424 | 133,08 | EUR |
| - D1 | 98.152,502 | 122,90 | EUR |
| - D2 | 128.381,025 | 123,81 | EUR |

| TPF Medium (EUR) | 31.12.2020 31.12.2021 31.12.2022 30.06.2023 | 154.236.068,51 154.838.676,40 94.770.629,93 89.798.821,44 | - A | 387.930,670 | 119,41 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 71.683,302 | 122,94 | EUR |
| - C1 | 23.927,932 | 123,21 | EUR |
| - C2 | 509.351,000 | 123,51 | EUR |
| - D1 | 105.455,000 | 119,70 | EUR |
| - D2 | 171.848,000 | 119,99 | EUR |
| - A | 333.998,435 | 130,94 | EUR |
| - B | 67.772,810 | 135,99 | EUR |
| - C1 | 17.654,000 | 136,57 | EUR |
| - C2 | 502.000,000 | 137,17 | EUR |
| - D1 | 87.516,348 | 131,52 | EUR |
| - D2 | 144.648,000 | 132,10 | EUR |
| - A | 286.722,091 | 109,54 | EUR |
| - B | 54.339,342 | 114,80 | EUR |
| - C1 | 21.251,391 | 115,52 | EUR |
| - C2 | 299.175,000 | 116,25 | EUR |
| - D1 | 75.019,348 | 110,24 | EUR |
| - D2 | 104.705,618 | 110,96 | EUR |
| - A | 262.469,424 | 113,28 | EUR |
| - B | 55.274,342 | 120,77 | EUR |
| - C1 | 21.251,391 | 121,64 | EUR |
| - C2 | 247.875,000 | 122,54 | EUR |
| - D1 | 75.019,348 | 114,12 | EUR |
| - D2 | 103.240,618 | 114,98 | EUR |

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

| Sustainable Low (EUR) | 31.12.2020 31.12.2021 31.12.2022 23.01.2023 (*) | 131.010.951,65 213.169.693,65 185.809.359,49 190.250.390,00 | - A | 542.441,227 | 106,15 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 96.684,213 | 109,51 | EUR |
| - C1 | 45.380,000 | 109,69 | EUR |
| - C2 | 110.255,000 | 109,93 | EUR |
| - D1 | 125.907,748 | 106,34 | EUR |
| - D2 | 303.624,769 | 106,57 | EUR |
| - A | 832.711,675 | 109,48 | EUR |
| - B | 164.337,374 | 114,22 | EUR |
| - C1 | 61.020,126 | 114,64 | EUR |
| - C2 | 311.892,000 | 115,00 | EUR |
| - D1 | 235.307,616 | 109,91 | EUR |
| - D2 | 312.964,378 | 110,26 | EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 789.522,046 168.547,707 79.558,617 276.839,337 238.307,102 392.638,680 | 93,83 98,44 99,00 99,45 94,39 94,83 | EUR EUR EUR EUR EUR EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 788.037,305 168.296,795 79.558,617 276.839,337 238.307,102 393.153,825 | 96,12 100,84 101,43 101,91 96,70 97,17 | EUR EUR EUR EUR EUR |

| Sustainable Medium (EUR) | 31.12.2020 31.12.2021 31.12.2022 23.01.2023 (*) | 694.803.027,27 1.402.280.237,24 1.322.173.843,86 1.372.661.236,20 | - A | 2.481.141,271 | 117,68 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 750.146,955 | 120,63 | EUR |
| - C1 | 320.161,406 | 120,95 | EUR |
| - C2 | 647.445,777 | 121,22 | EUR |
| - D1 | 618.396,750 | 117,99 | EUR |
| - D2 | 1.033.065,587 | 118,26 | EUR |
| - A | 4.548.396,978 | 130,70 | EUR |
| - B | 1.455.587,647 | 135,16 | EUR |
| - C1 | 529.968,821 | 135,92 | EUR |
| - C2 | 1.146.882,158 | 136,44 | EUR |
| - D1 | 1.167.294,287 | 131,43 | EUR |
| - D2 | 1.736.966,947 | 131,93 | EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 4.777.180,877 1.751.920,593 549.667,193 1.663.564,944 1.487.451,088 1.900.266,567 | 106,88 111,47 112,44 113,08 107,80 108,42 | EUR EUR EUR EUR EUR EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 4.800.108,503 1.760.665,255 549.667,193 1.665.284,944 1.486.618,088 1.894.297,637 | 110,75 115,43 116,45 117,14 111,65 112,31 | EUR EUR EUR EUR EUR EUR |

(*) date de calcul dernière VNI
| Compartiment | Date d’Evaluation | Actif Net Total | Classe d'actions | Actions en Circulation | Valeur de l’Action | Devise |
| --- | --- | --- | --- | --- | --- | --- |

| Sustainable High (EUR) | 31.12.2020 31.12.2021 31.12.2022 23.01.2023 (*) | 322.049.215,34 689.708.556,25 625.002.212,95 653.851.827,51 | - A | 686.906,320 | 129,65 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 237.110,940 | 131,82 | EUR |
| - C1 | 97.983,658 | 132,06 | EUR |
| - C2 | 914.000,416 | 132,38 | EUR |
| - D1 | 175.093,116 | 130,08 | EUR |
| - D2 | 345.312,690 | 130,40 | EUR |
| - A | 1.318.290,812 | 155,17 | EUR |
| - B | 585.298,038 | 158,91 | EUR |
| - C1 | 138.298,001 | 159,69 | EUR |
| - C2 | 918.921,759 | 160,40 | EUR |
| - D1 | 354.253,861 | 156,16 | EUR |
| - D2 | 1.066.795,927 | 156,86 | EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 1.334.467,192 892.921,559 170.106,862 809.747,139 524.906,760 1.189.494,431 | 124,39 128,75 129,77 130,60 125,55 126,37 | EUR EUR EUR EUR EUR EUR |
| - A
- B
- C1
- C2
- D1
- D2
 | 1.340.146,093 892.829,409 169.706,862 811.227,139 521.544,505 1.191.061,337 | 129,98 134,54 135,63 136,52 131,22 132,09 | EUR EUR EUR EUR EUR EUR |

(*) date de calcul dernière VNI

### 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 de la valeur nette d’inventaire officielle calculée à la clôture de l'exercice.
- Evaluation du portefeuille-titres et des instruments dérivésLes actions ou les parts des organismes de placement collectif sont évalués sur la base de leur dernière valeur nette d’inventaire disponible au 30 juin 2023, ou non officielle si celle-ci est de date plus récente (sur base dans ce cas d’une valeur nette d’inventaire probable, estimée avec prudence et bonne foi par le Conseil d’Administration, ou sur base d’autres sources telles qu’une information du gérant dudit OPC).

Les titres et produits dérivés cotés à une bourse officielle sont évalués sur la base du dernier cours de clôture disponible au 30 juin 2023 et, s’il y a plusieurs marchés, sur base du dernier cours de clôture du marché principal du titre en question. Si le dernier cours de clôture connu au jour d’évaluation donné n’est pas représentatif, l’évaluation se basera sur la valeur probable de réalisation estimée avec prudence et bonne foi.
Les contrats de change à terme sont évalués sur la base des taux "forward" de clôture au 30 juin 2023.
- 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 étrangèresLa comptabilité de la SICAV est tenue en EUR. Les avoirs en banque, les autres actifs nets ainsi que la valeur boursière des titres en portefeuille en d’autres devises que l’EUR sont convertis en EUR aux cours de change en vigueur à la date de clôture.

Les revenus et frais en devises autres que l’EUR sont convertis en EUR aux cours de change en vigueur à la date de paiement.
- Coût d'acquisition des titres en portefeuillePour les titres libellés en devises autres que la devise de la SICAV, le coût d’acquisition est calculé sur base du cours de change en vigueur au jour de l’achat.
- Variation des plus ou moins-values nettes non réaliséesLa variation des plus ou moins-values non réalisées à la fin de la période figure également dans le résultat des opérations.
- Variation du portefeuille-titresLe tableau des variations du portefeuille-titres 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.
- Etats financiers combinésLes états financiers combinés sont établis en EUR et sont égaux à la somme des rubriques correspondantes dans les états financiers de chaque compartiment.


### NOTE 2 - TAXES ET FRAIS À PAYER
| Commission de gestion | 1.000.674,77 | EUR |
| --- | --- | --- |
| Commission de banque dépositaire | 12.218,13 | EUR |
| Taxe d'abonnement | 3.969,70 | EUR |
| Frais et commissions divers | 116.836,71 | EUR |
| Total | 1.133.699,31 | EUR |

NOTE 3 - COMMISSION DE GESTION
En rémunération de ses prestations, la Société de Gestion perçoit de la SICAV une commission annuelle dont les taux sont repris dans le tableau ci-après. Cette commission est payable trimestriellement et calculée sur base des actifs nets moyens de chacune des classes d’actions de chacun des compartiments au cours du trimestre sous revue.
Le gestionnaire est rémunéré par la Société de Gestion sur la rémunération de cette dernière.
| Compartiments | Classes d'actions | Taux de la commission de gestion |
| --- | --- | --- |
| TPF Flexible | A | Max. 0,90% p.a. |
| TPF Flexible | B | Max. 0,90% p.a. |
| TPF Flexible | C1 | Max. 0,75% p.a. |
| TPF Flexible | C2 | Max. 0,55% p.a. |
| TPF Flexible | D1 | Max. 0,75% p.a. |
| TPF Flexible | D2 | Max. 0,55% p.a. |
| TPF Medium | A | Max. 1,00% p.a. |
| TPF Medium | B | Max. 1,00% p.a. |
| TPF Medium | C1 | Max. 0,80% p.a. |
| TPF Medium | C2 | Max. 0,60% p.a. |
| TPF Medium | D1 | Max 0,80% p.a. |
| TPF Medium | D2 | Max. 0,60% p.a. |

| L'activité d'un compartiment qui investit dans d'autres OPCVM et/ou d'autres OPC peut entraîner un dédoublement de certains frais. En sus des frais supportés par le compartiment dans le cadre de sa gestion quotidienne, des frais généraux et des commissions de gestion seront indirectement imputées sur les actifs du compartiment via les OPCVM et/ou d'autres OPC cibles qu'il détient. Les commissions de gestion cumulées ne pourront excéder 5%. Lorsque la SICAV investit dans des parts d'autres OPCVM et/ou d'autres OPC qui sont gérés, de façon directe ou par délégation, par la même Société de Gestion ou par toute autre société à laquelle la Société de Gestion est liée dans le cadre d'une communauté de gestion ou de contrôle ou par une importante participation directe ou indirecte, la Société de Gestion ou l'autre société ne peut facturer des commissions de souscription ou de rachat pour l'investissement de la SICAV dans les parts d'autres OPCVM et/ou d'autres OPC. Ceci ne concerne pas les éventuelles commissions de souscriptions ou de rachats prélevées au bénéfice exclusif de ces autres OPCVM ou OPC et qui leur sont intégralement versées. |
| --- |
| NOTE 4 - 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%. Cette taxe est 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 organismes de placement collectif déjà soumis à l’application de cette taxe. La SICAV étant enregistrée en Belgique, elle est soumise à une taxe au taux annuel de 0,0925% calculée pour l'année 2022 sur base de la valeur des actions distribuées en Belgique telle qu’établie au 31 décembre 2021. |
| NOTE 5 - FRAIS D'ADMINISTRATION |
| En rémunération de ses fonctions d’Agent Domiciliataire, d’Agent Administratif, d’Agent de Transfert et Teneur de Registre de la SICAV, Degroof Petercam Asset Services S.A. reçoit de chaque compartiment, les rémunérations suivantes : - une commission annuelle au taux effectif de 0,045%, payable trimestriellement et calculée sur base des actifs nets moyens du compartiment au cours du trimestre sous revue;
- une commission annuelle forfaitaire de EUR 2.000,00 par classe d’actions active.
 |
| NOTE 6 - COMMISSION DE BANQUE DÉPOSITAIRE |
| En rémunération de ses prestations, la Banque Dépositaire reçoit de chaque compartiment une commission annuelle au taux effectif de 0,01%. Cette commission est payable trimestriellement et calculée sur base des actifs nets moyens de chaque compartiment au cours du trimestre sous revue. En plus de ce taux, la Banque Dépositaire reçoit les montants suivants : - EUR 35 par transaction titre, plus TVA applicable
- EUR 250 par réclamation de taxe, plus TVA applicable
 |


### NOTE 7 - AUTRES REVENUS
Le poste "autres revenus" est principalement composé de rétrocessions sur les commissions de gestion appliquées par les fonds d’investissement investis par les compartiments.

### NOTE 8 - FUTURES
Les contrats futures sont évalués selon la méthode décrite au point a) de la Note 1) chaque jour ouvrable bancaire. Les gains/(pertes) non-réalisés résultant des contrats futures ouverts à la date de clôture sont enregistrés directement dans les avoirs en banque. Toute variation de l'appel de marge qui ne serait pas encore transférée en avoirs en banque à la date de clôture est reflétée dans le compte "A recevoir du/(payer au) broker sur futures".
Au 30 juin 2023, les contrats futures suivants sont déposés chez Banque Degroof Petercam Luxembourg S.A.:
TPF Medium :
| Devise | Nombre de CONTRATS | Description | + / - Value Non Realisee ( EN  EUR) | Engagement ( EN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | -36 | EURO STOXX 50 FUTURE | -21.150,00 | 1.583.672,40 |
| USD | -6 | S&P E-MINI 500 IDX FUTURE | -27.525,21 | 1.223.752,52 |
| USD | 36 | US 10Y NOTE FUTURE S | -38.153,24 | 3.704.456,92 |
|  |  | Total | -86.828,45 | 6.511.881,84 |

Au titre de ces contrats future, le compartiment TPF Medium maintenait auprès de Banque Degroof Petercam Luxembourg S.A. un dépôt de garantie de EUR 222.077,48 en faveur de la contrepartie à la clôture. Ce dépôt de garantie est destiné à couvrir les risques de marchés en cas d’évolution journalière défavorable des cours des contrats futures achetés ou vendus.

### NOTE 9 - DIVIDENDES
L’Assemblée Générale a décidé, en date du 24 avril 2023, sur proposition du Conseil d'Administration, de payer les dividendes suivants aux actions de distribution des compartiments suivants:
| Compartiment | Classe | C ODE  ISIN | Devise | Montant par action |
| --- | --- | --- | --- | --- |
| TPF Flexible | A | LU1063886102 | EUR | 0,79 |
| TPF Flexible | D1 | LU1862519383 | EUR | 0,79 |
| TPF Flexible | D2 | LU1862519540 | EUR | 0,80 |
| TPF Medium | A | LU1378809203 | EUR | 1,90 |
| TPF Medium | D1 | LU1862520399 | EUR | 1,91 |
| TPF Medium | D2 | LU1862520555 | EUR | 1,92 |

Les actions ont été cotées ex-dividende à partir du 10 mai 2023. Le paiement a été effectué en date du 17 mai 2023.
| NOTE 10 - EVÈNEMENTS SURVENUS PENDANT LA PÉRIODE |
| --- |
| Le Conseil d'Administration de la SICAV a décidé de procéder à la fusion des compartiments Sustainable Low, Sustainable Medium et Sustainable High (les «Compartiments Absorbés») avec les compartiments DP PATRIMONIAL - Sustainable Low, DP PATRIMONIAL - Sustainable Medium et DP PATRIMONIAL - Sustainable High de la SICAV DP PATRIMONIAL (les « Compartiments Absorbeurs ») avec effet au 23 janvier 2023. Impact de l’invasion russe en Ukraine : Même si les prix énergétiques ont diminué par rapport au début du conflit, l’économie européenne reste fragile à cause de sa trop grande dépendance au gaz et au pétrole. De nouvelles hausses des prix des matières premières ne peuvent être exclues. Les prix de l’énergie restent un des premiers canaux de transmission de risque dans l’économie mondiale, notamment au travers de l’inflation. Bien qu’elle ait atteint un pic tant en Europe qu’aux Etats-Unis, l’inflation pourrait rester durablement plus élevée qu’au cours des deux dernières décennies. En conséquence les banques centrales ont fortement relevé les taux d’intérêt mais les hausses ne sont peut-être pas terminées. L’équilibre est difficile pour les banques centrales car il peut être dangereux de trop resserrer la politique monétaire pour contenir l’inflation et pousser en même temps l’économie en récession. La Russie s’est isolée des économies occidentales et les effets négatifs des sanctions économiques pourraient commencer à se faire sentir en Russie dans les mois à venir. On ne peut exclure un durcissement du conflit en conséquence, ce qui pourrait produire de nouveaux effets négatifs. Il est pratiquement impossible que la Russie retrouve la position qui était la sienne dans les indices d’actions ou dans les indices obligataires. Cette guerre laissera des traces pour une longue période mais il est impossible de prévoir un scénario à court ou moyen terme. L’investisseur averti tiendra compte de l’ensemble de ces incertitudes pour considérer ses investissements. |

| 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 actif net total. 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 chaque compartiment de la SICAV sera celle des engagements. La 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. Le niveau de levier maximal en instruments financiers dérivés en suivant la méthodologie des engagements sera de 100%. |
| Transparence des opérations de financement sur titres et de la réutilisation Conformément à l’article 13 et à la Section A de l’Annexe du Règlement EU 2015/2365 (ci-après le "Règlement"), la SICAV doit informer les investisseurs de l’utilisation qu’elle fait des opérations de financement sur titres et des contrats d’échange sur rendement global dans le rapport annuel et le rapport semestriel. Le portefeuille ne contient pas d'avoirs prêtés à la date du présent rapport. |