# Comgest Growth Asia
## SCHEDULE OF INVESTMENTS
As at 31 December 2020 (expressed in USD)
Security
Quantity/
Face value	Currency
Acquisition cost USD
Fair Value
USD
% Net Assets
Pharmaceuticals and cosmetics
|  | Chugai Pharmaceutical Co Ltd | 116,200 | JPY | 4,489,051 | 6,193,507 | 2.13 |
| --- | --- | --- | --- | --- | --- | --- |
| Kose Corp | 45,800 | JPY | 5,658,953 | 7,807,449 | 2.69 |
| Sysmex Corp | 86,800 | JPY | 5,913,835 | 10,424,913 | 3.58 |
|  |  |  | 16,061,839 | 24,425,869 | 8.40 |
| Retail | Fast Retailing Co Ltd | 10,800 | JPY | 5,004,366 | 9,672,876 | 3.32 |
|  | Nitori Holdings Co Ltd | 33,000 | JPY | 5,142,110 | 6,910,359 | 2.38 |
|  | Pan Pacific International Holdings Corp | 414,600 | JPY | 5,633,116 | 9,589,471 | 3.30 |
|  |  |  |  | 15,779,592 | 26,172,706 | 9.00 |
|  |  |  |  |  |  |  |
| Total Japan |  |  |  | 108,482,099 | 185,650,327 | 63.82 |
| South Korea |  |  |  |  |  |  |
| Electronic semiconductor |
| Samsung Electronics Co Ltd | 162,350 | KRW | 7,494,644 | 12,111,472 | 4.16 |
|  |  |  | 7,494,644 | 12,111,472 | 4.16 |
| Graphic art and publishing Cheil Worldwide Inc | 143,182 | KRW | 2,836,029 | 2,716,535 | 0.93 |
|  |  |  | 2,836,029 | 2,716,535 | 0.93 |
| Internet software NCSoft Corp | 10,481 | KRW | 5,488,574 | 8,986,944 | 3.09 |
|  |  |  | 5,488,574 | 8,986,944 | 3.09 |
| Pharmaceuticals and cosmetics LG Household & Health Care Ltd | 2,044 | KRW | 2,182,371 | 3,049,689 | 1.05 |
|  |  |  | 2,182,371 | 3,049,689 | 1.05 |
|  |  |  |  |  |  |
| Total South Korea |  |  | 18,001,618 | 26,864,640 | 9.23 |
| Taiwan |  |  |  |  |  |
| Electronic semiconductor |
| Taiwan Semiconductor Manufacturing Co Ltd | 513,457 | TWD | 3,817,481 | 9,685,185 | 3.33 |
|  |  |  | 3,817,481 | 9,685,185 | 3.33 |

Total Taiwan	3,817,481	9,685,185	3.33
| Comgest Growth Asia |  |
| --- | --- |
| SCHEDULE OF INVESTMENTS |
| As at 31 December 2020 (expressed in USD) |
| Security | Quantity/ Face value | Currency | Acquisition cost USD | Fair Value USD | % Net Assets |
| United States of America |  |  |  |  |  |
| Internet software |  |  |  |  |  |
| Cognizant Technology Solutions Corp | 95,583 | USD | 6,536,592 | 7,833,027 | 2.69 |
|  |  |  | 6,536,592 | 7,833,027 | 2.69 |

| Total United States of America | 6,536,592 | 7,833,027 | 2.69 |
| --- | --- | --- | --- |
|  |  |  |  |
| Equity securities | 174,096,101 | 275,519,979 | 94.71 |
|  |  |  |  |
| Transferable securities admitted to an official stock exchange listing | 174,096,101 | 275,519,979 | 94.71 |
| Other transferable securities |  |  |  |
| Investment Funds |  |  |  |
| France |  |  |  |
| Investment funds |  |  |  |  |  |
| Société de Gestion Prévoir - Prévoir Renaissance Vietnam | 9,114 | EUR | 1,677,084 | 2,375,144 | 0.82 |
|  |  |  | 1,677,084 | 2,375,144 | 0.82 |
|  |  |  |  |  |  |
| Total France |  |  | 1,677,084 | 2,375,144 | 0.82 |
|  |  |  |  |  |  |
| Investment Funds |  |  | 1,677,084 | 2,375,144 | 0.82 |
|  |  |  |  |  |  |
| Other transferable securities |  |  | 1,677,084 | 2,375,144 | 0.82 |
|  |  |  |  |  |  |
| Financial assets at fair value through profit or loss |  |  | 175,773,185 | 277,895,123 | 95.53 |

Cash and other net assets	 13,017,289	4.47 
Total net assets attributable to holders of redeemable participating shares	 290,912,412	100.00 
% of Total Assets
Transferable securities admitted to an official stock exchange listing	94.52
Other transferable securities	0.81
| Comgest Growth Asia ex Japan |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| SCHEDULE OF INVESTMENTS |  |  |  |  |  |
| As at 31 December 2020 (expressed in USD) |  |  |  |  |  |
| Security | Quantity/ Face value | Currency | Acquisition cost USD | Fair Value USD | % Net Assets |
| Financial assets at fair value through profit and loss |  |  |  |  |  |

Transferable securities admitted to an official stock exchange listing Equity securities
Bermuda Islands
Mechanics and machinery
| China Resources Gas Group Ltd | 598,355 | HKD | 2,589,221 | 3,183,207 | 3.52 |
| --- | --- | --- | --- | --- | --- |
|  |  |  | 2,589,221 | 3,183,207 | 3.52 |
|  |  |  |  |  |  |
| Total Bermuda Islands |  |  | 2,589,221 | 3,183,207 | 3.52 |
| Cayman Islands |  |  |  |  |  |
| Internet software |  |  |  |  |  |
| NetEase Inc | 169,675 | HKD | 1,815,652 | 3,229,878 | 3.58 |
| Tencent Holdings Ltd | 10,000 | HKD | 395,948 | 727,380 | 0.80 |
|  |  |  | 2,211,600 | 3,957,258 | 4.38 |
| Other Services |  |  |  |  |  |
| Alibaba Group Holding Ltd | 125,416 | HKD | 3,205,377 | 3,762,224 | 4.16 |
|  |  |  | 3,205,377 | 3,762,224 | 4.16 |
| Pharmaceuticals and cosmetics |  |  |  |  |  |
| 3SBio Inc | 1,906,890 | HKD | 2,768,647 | 1,738,709 | 1.93 |
| Hengan International Group Co Ltd | 375,500 | HKD | 2,942,689 | 2,658,669 | 2.94 |
|  |  |  | 5,711,336 | 4,397,378 | 4.87 |
|  |  |  |  |  |  |
| Total Cayman Islands |  |  | 11,128,313 | 12,116,860 | 13.41 |
| China |  |  |  |  |  |
| Automobile industry |  |  |  |  |  |
| SAIC Motor Corp Ltd - A Shares | 736,930 | CNY | 2,895,917 | 2,753,996 | 3.05 |
|  |  |  | 2,895,917 | 2,753,996 | 3.05 |
| Business houses |  |  |  |  |  |
| Inner Mongolia Yili Industrial Group Co Ltd - A Shares | 198,055 | CNY | 762,468 | 1,343,727 | 1.49 |

762,468	1,343,727	1.49

Translation (ENFR, 2020-12-31):
# Comgest Growth Asia
#### MOUVEMENTS SIGNIFICATIFS DU PORTEFEUILLE pour l’exercice clos le 31 décembre 2020
| Ventes 1 |  |  |  |
| --- | --- | --- | --- |
| Valeur | Quantité | Montant de règlement (USD) | % du Total Ventes |
| NCSoft Corp | 4 316 | 3 318 853 | 11,67 |
| Yamaha Corp | 68 000 | 3 201 476 | 11,26 |
| 3SBio Inc | 2 455 000 | 2 671 938 | 9,40 |
| Tencent Holdings Ltd | 39 200 | 2 626 033 | 9,23 |
| Samsonite International SA | 1 297 500 | 2 423 085 | 8,52 |
| FANUC Corp | 18 600 | 2 325 851 | 8,18 |
| Inner Mongolia Yili Industrial Group Co Ltd - Actions A | 486 500 | 2 264 521 | 7,96 |
| Suzuki Motor Corp | 51 900 | 2 208 236 | 7,77 |
| Taiwan Semiconductor Manufacturing Co Ltd | 142 000 | 2 136 307 | 7,51 |
| M3 Inc | 33 100 | 1 982 158 | 6,97 |
| Hikari Tsushin Inc | 4 400 | 1 009 446 | 3,55 |
| Oriental Land Co Ltd | 7 200 | 954 799 | 3,36 |
| Cognizant Technology Solutions Corp | 11 574 | 798 079 | 2,81 |
| NetEase Inc | 1 094 | 515 034 | 1,81 |

1Représente le total des ventes au cours de l’exercice.