# Financial statements at 30/06/2020
#### Statement of net assets
ExpressedinEUREUREUREUR
Notes
Assets
6804795815623576672107136380
Securitiesportfolioatcostprice	675 969 749	574 310 557	227 696 410	0
Unrealisedgain/(loss)onsecuritiesportfolio	(11 752 072)	(13 431 032)	(18 140 454)	0
Securitiesportfolioatmarketvalue
2	
664 217 677	560 879 525	209 555 956	0
Optionsatmarketvalue
2,14	
0	0	0	0
NetUnrealisedgainonfinancialinstruments
2,10,11,12,
13
1 270 461	522 668	138 194	0
Cashatbanksandtimedeposits
2,15	
11 327 793	134 324	0	0
Otherassets
3 663 650	821 150	1 019 488	0
Liabilities
2285345267708313526580
Bankoverdrafts
0	0	189 049	0
NetUnrealisedlossonfinancialinstruments
2,10,11,12,
13
0	0	0	0
Otherliabilities
22 853 452	6 770 831	163 609	0
Netassetvalue
6576261295555868362103609800

#### Statement of operations and changes in net assets
Incomeoninvestmentsandassets
2730919529275184534061558427
Managementfees
3	
168 593	658 591	524 985	77 531
Bankinterest
58 434	20 978	0	4 537
InterestonswapsandCFDs
0	0	0	0
Otherfees
5	
433 118	723 455	375 423	294 066
Taxes
6	
82 004	123 601	36 103	18 202
Performancefees
4	
0	2 918	2 502	0
Transactionfees
18	
0	0	0	2 084
Distributionfees
19	
0	0	0	0
Totalexpenses
7421491529543939013396420
Netresultfrominvestments
1988770376320875143931162007
Netrealisedresulton:
Investmentssecurities
2	
(127 260)	(1 894 919)	(2 569 858)	17 005 373
Financialinstruments
2	
2 470 339	(154 725)	250 141	(223 010)
Netrealisedresult
43318491713564519467617944370
Movementonnetunrealisedgain/(loss)on:
Investmentssecurities
(11 142 347)	(13 214 648)	(15 602 471)	(17 492 804)
Financialinstruments
1 120 449	430 141	116 009	165 430
Changeinnetassetsduetooperations
(5690049)(11070943)(10291786)616996
Netsubscriptions/(redemptions)
2506512001333083846834724(392601212)
Dividendspaid
8	
0(815311)(3641)0
Increase/(Decrease)innetassetsduringtheyear/period
Netassetsatthebeginningofthefinancialyear/period
ReevaluationofopeningcombinedNAVNetassetsattheendofthefinancialyear/period
244961151121422130(3460703)(391984216)
412664978434164706213821683391984216
6576261295555868362103609800
NOKEURUSDCNHUSDUSD
| 1163372713 | 150458724 | 131349081 | 0 | 0 | 125422435 |
| --- | --- | --- | --- | --- | --- |
| 1 158 836 583 | 135 627 859 | 110 776 206 | 0 | 0 | 103 439 335 |
| 3 419 427 | 1 414 820 | 110 848 | 0 | 0 | 10 925 974 |
| 1 162 256 010 | 137 042 679 | 110 887 054 | 0 | 0 | 114 365 309 |
| 0 | 0 | 0 | 0 | 0 | 252 462 |
| 0 | 4 590 081 | 0 | 0 | 0 | 0 |
| 98 297 | 7 561 705 | 20 371 354 | 0 | 0 | 8 966 529 |
| 1 018 406 | 1 264 259 | 90 673 | 0 | 0 | 1 838 135 |
| 1194002 | 50847 | 13449722 | 0 | 0 | 3814755 |
| 0 | 0 | 0 | 0 | 0 | 627 694 |
| 0 | 0 | 191 141 | 0 | 0 | 2 777 876 |
| 1 194 002 | 50 847 | 13 258 581 | 0 | 0 | 409 185 |
| 1162178711 | 150407877 | 117899359 | 0 | 0 | 121607680 |
| 656460 | 5080405 | 171006 | 43858 | 9774 | 316721 |
| 1 666 880 | 332 950 | 1 137 260 | 0 | 1 | 206 811 |
| 2 051 | 20 547 | 5 236 | 1 197 | 0 | 16 050 |
| 0 | 0 | 0 | 0 | 0 | 75 200 |
| 404 342 | 197 710 | 311 336 | 0 | 10 292 | 101 776 |
| 249 294 | 21 667 | 38 959 | 0 | 0 | 15 939 |
| 0 | 0 | 0 | 0 | 0 | 46 982 |
| 0 | 55 | 0 | 291 | 4 878 | 12 117 |
| 0 | 0 | 20 351 | 0 | 0 | 0 |
| 2322567 | 572929 | 1513142 | 1488 | 15171 | 474875 |
| (1666107) | 4507476 | (1342136) | 42370 | (5397) | (158154) |
| (17 154 666) | 2 527 309 | 1 104 980 | (191 183) | 3 097 764 | (4 118 575) |
| (169) | (7 062 571) | (28 881 142) | (77 678) | 0 | (1 902 126) |
| (18820942) | (27786) | (29118298) | (226491) | 3092367 | (6178855) |
| 3 419 427 | (1 555 871) | 110 848 | 158 484 | (3 734 264) | 10 925 974 |
| 0 | 4 390 575 | (191 141) | 0 | 0 | (2 681 526) |
| (15401515) | 2806918 | (29198591) | (68007) | (641897) | 2065593 |
| 1198083776 | 18395412 | 147164117 | (5305383) | (16103072) | 119585289 |
| (20503550) | (64378) | (66167) | 0 | 0 | (43202) |
| 1162178711 | 21137952 | 117899359 | (5373390) | (16744969) | 121607680 |
| 0 | 129269925 | 0 | 5373390 | 16744969 | 0 |
| 1162178711 | 150407877 | 117899359 | 0 | 0 | 121607680 |

Translation (ENFR, 2020-06-30):
# Etats financiers au 30/06/2020
ExpriméenEUREUREUREUR
Notes
| Etatdesactifsnets |  |
| --- | --- |
| Actif | 680479581 | 562357667 | 210713638 | 0 |
| Portefeuille-titresaucoûtd'acquisition | 675 969 749 | 574 310 557 | 227 696 410 | 0 |
| Plus/(moins)-valuenonréaliséesur | (11 752 072) | (13 431 032) | (18 140 454) | 0 |
| portefeuille-titres |  |  |  |  |
| Portefeuille-titresàlavaleurd'évaluation 2 | 664 217 677 | 560 879 525 | 209 555 956 | 0 |
| Optionsàlavaleurdemarché 2,14 | 0 | 0 | 0 | 0 |
| Plus-valuenettenonréaliséesurinstruments 2,10,11,12, | 1 270 461 | 522 668 | 138 194 | 0 |
| financiers 13 Avoirsbancairesetdépôtsàterme 2,15 | 11 327 793 | 134 324 | 0 | 0 |
| Autresactifs | 3 663 650 | 821 150 | 1 019 488 | 0 |
| Passif | 22853452 | 6770831 | 352658 | 0 |
| Dettesbancairesàvue | 0 | 0 | 189 049 | 0 |
| Moins-valuenettenonréaliséesurinstruments 2,10,11,12, financiers 13 | 0 | 0 | 0 | 0 |
| Autrespassifs | 22 853 452 | 6 770 831 | 163 609 | 0 |
| Valeurnetted'inventaire | 657626129 | 555586836 | 210360980 | 0 |
| Etatdesopérationsetdeschangementsdes |  |  |  |  |
| actifsnets |  |  |  |  |
| Revenussurtitresetavoirs | 2730919 | 5292751 | 8453406 | 1558427 |
| Commissionsdegestion 3 | 168 593 | 658 591 | 524 985 | 77 531 |
| Intérêtsbancaires | 58 434 | 20 978 | 0 | 4 537 |
| IntérêtssurswapsetCFDs | 0 | 0 | 0 | 0 |
| Autresfrais 5 | 433 118 | 723 455 | 375 423 | 294 066 |
| Taxes 6 | 82 004 | 123 601 | 36 103 | 18 202 |
| Commissionsdeperformance 4 | 0 | 2 918 | 2 502 | 0 |
| Fraisdetransaction 18 | 0 | 0 | 0 | 2 084 |
| Commissionsdedistribution 19 | 0 | 0 | 0 | 0 |
| Totaldescharges | 742149 | 1529543 | 939013 | 396420 |
| Résultatnetdesinvestissements | 1988770 | 3763208 | 7514393 | 1162007 |
| Résultatnetréalisésur: |  |  |  |  |
| Portefeuille-titres 2 | (127 260) | (1 894 919) | (2 569 858) | 17 005 373 |
| Instrumentsfinanciers 2 | 2 470 339 | (154 725) | 250 141 | (223 010) |
| Résultatnetréalisé | 4331849 | 1713564 | 5194676 | 17944370 |
| Variationdelaplus/(moins)-valuenettenonréaliséesur: Portefeuille-titres | (11 142 347) | (13 214 648) | (15 602 471) | (17 492 804) |
| Instrumentsfinanciers | 1 120 449 | 430 141 | 116 009 | 165 430 |
| Résultatdesopérations | (5690049) | (11070943) | (10291786) | 616996 |
| Emissions/(rachats)nets | 250651200 | 133308384 | 6834724 | (392601212) |
| Dividendesdistribués 8 | 0 | (815311) | (3641) | 0 |
| Augmentation/(diminution)desactifsnetsdurantl'exercice/période | 244961151 | 121422130 | (3460703) | (391984216) |
| Actifsnets,débutd'exercice/période | 412664978 | 434164706 | 213821683 | 391984216 |
| RéevaluationdelaVNIconsolidée |  |  |  |  |
| Actifsnets,findel'exercice/période | 657626129 | 555586836 | 210360980 | 0 |

NOKEURUSDCNHUSDUSD
| 1163372713 | 150458724 | 131349081 | 0 | 0 | 125422435 |
| --- | --- | --- | --- | --- | --- |
| 1 158 836 583 | 135 627 859 | 110 776 206 | 0 | 0 | 103 439 335 |
| 3 419 427 | 1 414 820 | 110 848 | 0 | 0 | 10 925 974 |
| 1 162 256 010 | 137 042 679 | 110 887 054 | 0 | 0 | 114 365 309 |
| 0 | 0 | 0 | 0 | 0 | 252 462 |
| 0 | 4 590 081 | 0 | 0 | 0 | 0 |
| 98 297 | 7 561 705 | 20 371 354 | 0 | 0 | 8 966 529 |
| 1 018 406 | 1 264 259 | 90 673 | 0 | 0 | 1 838 135 |
| 1194002 | 50847 | 13449722 | 0 | 0 | 3814755 |
| 0 | 0 | 0 | 0 | 0 | 627 694 |
| 0 | 0 | 191 141 | 0 | 0 | 2 777 876 |
| 1 194 002 | 50 847 | 13 258 581 | 0 | 0 | 409 185 |
| 1162178711 | 150407877 | 117899359 | 0 | 0 | 121607680 |
| 656460 | 5080405 | 171006 | 43858 | 9774 | 316721 |
| 1 666 880 | 332 950 | 1 137 260 | 0 | 1 | 206 811 |
| 2 051 | 20 547 | 5 236 | 1 197 | 0 | 16 050 |
| 0 | 0 | 0 | 0 | 0 | 75 200 |
| 404 342 | 197 710 | 311 336 | 0 | 10 292 | 101 776 |
| 249 294 | 21 667 | 38 959 | 0 | 0 | 15 939 |
| 0 | 0 | 0 | 0 | 0 | 46 982 |
| 0 | 55 | 0 | 291 | 4 878 | 12 117 |
| 0 | 0 | 20 351 | 0 | 0 | 0 |
| 2322567 | 572929 | 1513142 | 1488 | 15171 | 474875 |
| (1666107) | 4507476 | (1342136) | 42370 | (5397) | (158154) |
| (17 154 666) | 2 527 309 | 1 104 980 | (191 183) | 3 097 764 | (4 118 575) |
| (169) | (7 062 571) | (28 881 142) | (77 678) | 0 | (1 902 126) |
| (18820942) | (27786) | (29118298) | (226491) | 3092367 | (6178855) |
| 3 419 427 | (1 555 871) | 110 848 | 158 484 | (3 734 264) | 10 925 974 |
| 0 | 4 390 575 | (191 141) | 0 | 0 | (2 681 526) |
| (15401515) | 2806918 | (29198591) | (68007) | (641897) | 2065593 |
| 1198083776 | 18395412 | 147164117 | (5305383) | (16103072) | 119585289 |
| (20503550) | (64378) | (66167) | 0 | 0 | (43202) |
| 1162178711 | 21137952 | 117899359 | (5373390) | (16744969) | 121607680 |
| 0 | 129269925 | 0 | 5373390 | 16744969 | 0 |
| 1162178711 | 150407877 | 117899359 | 0 | 0 | 121607680 |