# EVOLUTION OF SUBSCRIPTIONS, REDEMPTIONS AND THE NET ASSET VALUE
| Evolution of the number of shares in circulation |
| --- |
|  | 31 December 2018 | 31 December 2019 | 31 December 2020 |
| Class | Subscriptions | Redemptions | End of Period | Subscriptions | Redemptions | End of Period | Subscriptions | Redemptions | End of Period |
| A | 2,499.00 | 33,528.00 | 42,810.38 | 23,581.89 | 5,697.17 | 60,695.10 | 0.00 | 19,131.74 | 41,563.36 |
| B | 47,825.69 | 32,520.26 | 71,823.73 | 20,455.39 | 57,668.31 | 34,610.81 | 100,275.59 | 133,661.28 | 1,225.12 |
| F | 25,110.70 | 198,677.88 | 38,289.58 | 6,455.78 | 37,500.04 | 7,245.32 | 141,879.24 | 74,539.73 | 74,584.84 |
| M | 18,656.08 | 6,825.41 | 15,534.67 | 0.00 | 8,283.23 | 7,251.44 | 0.00 | 4,160.37 | 3,091.07 |
| N | 2,700.04 | 1,100.00 |  | 0.00 | 100.04 |  | 0.00 | 1,500.00 |  |
| V | 28,570.00 | 6,054.00 | 82,546.00 | 17,552.00 | 7,924.00 | 92,174.00 | 20,336.00 | 11,458.00 | 101,052.00 |
| W | 16.56 | 464.46 | 171.52 | 19,093.38 | 56.84 | 19,208.06 | 0.00 | 19,093.61 | 114.45 |
| TOTAL |  |  | 251,175.88 |  |  | 221,184.74 |  |  | 221,630.83 |

| Payable and receivable amounts for the UCI |
| --- |
| EUR |
|  | 31 December 2018 | 31 December 2019 | 31 December 2020 |
| Class | Subscriptions | Redemptions | Subscriptions | Redemptions | Subscriptions | Redemptions |
| A | 372,575.91 | 5,028,021.71 | 3,434,868.65 | 831,894.80 | 0.00 | 2,771,480.50 |
| B | 11,280,194.08 | 7,699,980.31 | 4,816,974.01 | 13,572,186.90 | 23,414,673.16 | 31,271,619.21 |
| F | 6,016,561.77 | 47,757,572.79 | 1,541,975.56 | 8,982,255.44 | 33,781,714.30 | 17,740,847.73 |
| M | 2,794,436.86 | 1,018,827.81 | 0.00 | 1,219,675.32 | 0.00 | 603,436.29 |
| N | 639,313.92 | 259,361.00 | 0.00 | 23,545.89 | 0.00 | 350,607.70 |
| V | 4,279,006.57 | 905,972.75 | 2,576,447.23 | 1,155,309.08 | 2,946,699.98 | 1,660,672.35 |
| W | 3,942.25 | 110,587.06 | 4,501,200.96 | 13,428.18 | 0.00 | 4,496,140.74 |
| TOTAL | 25,386,031.36 | 62,780,323.43 | 16,871,466.41 | 25,798,295.61 | 60,143,087.44 | 58,894,804.52 |

| net asset value |
| --- |
| EUR |
|  | 31 December 2018 | 31 December 2019 | 31 December 2020 |
| Class | of the subfund | Per share | of the subfund | Per share | of the subfund | Per share |
| A | 47,495,888.52 | 149.03 | 37,987,476.79 | 145.33 | 39,123,120.63 | 144.65 |
| B | 235.56 | 234.56 | 233.56 |
| F | 239.55 | 238.69 | 237.73 |
| M | 148.85 | 145.21 | 144.52 |
| N |  |  |  |
| V | 148.94 | 145.26 | 144.68 |
| W | 236.73 | 235.55 | 234.64 |
| TOTAL | 47,495,888.52 |  | 37,987,476.79 |  | 39,123,120.63 |  |

On the date of publication of this report, the net asset value per share is published on the following websites: www.dpamfunds.com and www.beama.be. This information is also available at the counters of the financial services department.
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Translation (ENFR, 2020-12-31):
# EVOLUTION DES SOUSCRIPTIONS, DES REMBOURSEMENTS ET DE LA VALEUR NETTE D’INVENTAIRE
| Evolution du nombre d'actions en circulation |
| --- |
|  | 31 décembre 2018 | 31 décembre 2019 | 31 décembre 2020 |
| Classe | Souscrites | Remboursées | Fin de période | Souscrites | Remboursées | Fin de période | Souscrites | Remboursées | Fin de période |
| A | 2.878,76 | 369.599,00 | 241.970,21 | 108.826,79 | 19.313,57 | 331.483,43 | 102.244,85 | 110.650,49 | 323.077,79 |
| B | 627.642,09 | 334.498,95 | 1.580.404,94 | 316.920,71 | 545.939,34 | 1.351.386,31 | 278.178,97 | 454.232,91 | 1.175.332,37 |
| E | 0,00 | 660,00 | 24.034,00 | 37.339,00 | 0,00 | 61.373,00 | 0,00 | 18.366,00 | 43.007,00 |
| F | 1.756.584,2 6 | 1.488.752,22 | 1.232.954,86 | 1.120.784,17 | 1.768.922,83 | 584.816,20 | 906.906,39 | 754.888,35 | 736.834,24 |
| J | 4.765,00 | 0,00 | 4.765,00 | 0,00 | 0,00 | 4.765,00 | 5.956,00 | 90,00 | 10.631,00 |
| L | 0,00 | 184,00 | 0,00 | 3.989,49 | 0,00 | 3.989,49 | 1.743,81 | 652,81 | 5.080,48 |
| M | 96.065,66 | 16.841,97 | 139.555,69 | 190,00 | 13.875,98 | 125.869,70 | 4.938,00 | 16.094,67 | 114.713,03 |
| N | 14.084,92 | 3.228,72 | 14.881,21 | 330,00 | 912,05 | 14.299,16 | 4.551,00 | 443,18 | 18.406,98 |
| P | 109.905,00 | 99.785,00 | 1.429.950,00 | 21.279,00 | 161.119,00 | 1.290.110,00 | 421.900,00 | 296.350,00 | 1.415.660,00 |
| V | 2.206,00 | 4.892,00 | 31.563,54 | 1.296,00 | 4.687,53 | 28.172,00 | 725,00 | 4.021,00 | 24.876,00 |
| W | 58.900,38 | 7.252,07 | 85.848,47 | 16.055,90 | 26.146,28 | 75.758,09 | 72.208,67 | 26.629,17 | 121.337,59 |
| TOTAL |  |  | 4.785.927,91 |  |  | 3.872.022,39 |  |  | 3.988.956,49 |

| Montants payés et reçus par l’OPC |
| --- |
| EUR |
|  | 31 décembre 2018 | 31 décembre 2019 | 31 décembre 2020 |
| Classe | Souscrites | Remboursées | Souscrites | Remboursées | Souscrites | Remboursées |
| A | 146.812,07 | 18.784.372,67 | 5.867.055,53 | 1.011.911,64 | 5.619.927,09 | 5.955.518,90 |
| B | 51.135.082,64 | 27.285.748,96 | 27.498.646,69 | 46.985.676,11 | 24.337.306,33 | 40.148.910,66 |
| E | 0,00 | 34.537,80 | 2.134.443,73 | 0,00 | 0,00 | 1.001.656,98 |
| F | 146.811.479,63 | 123.305.417,86 | 100.941.784,80 | 156.596.071,34 | 84.141.922,02 | 68.750.796,75 |
| J | 119.125.000,00 | 0,00 | 0,00 | 0,00 | 161.669.480,69 | 2.578.914,30 |
| L | 0,00 | 0,00 | 0,00 | 0,00 | 149.358,44 | 56.867,84 |
| L | 0,00 | 14.712,64 | 355.339,40 | 0,00 | 0,00 | 0,00 |
| M | 4.903.781,82 | 848.650,45 | 10.301,80 | 734.290,95 | 260.818,25 | 846.132,64 |
| N | 1.146.308,24 | 262.669,84 | 28.235,10 | 78.017,77 | 409.607,63 | 40.783,90 |
| P | 9.235.470,65 | 8.357.709,25 | 1.846.606,43 | 14.538.669,69 | 39.402.255,00 | 27.206.255,50 |
| V | 111.045,29 | 247.569,85 | 69.518,98 | 244.395,25 | 39.499,88 | 208.481,33 |
| W | 4.824.945,18 | 594.974,89 | 1.395.262,56 | 2.271.109,13 | 6.498.169,12 | 2.387.847,46 |
| TOTAL | 337.439.925,52 | 179.736.364,21 | 140.147.195,02 | 222.460.141,88 | 322.528.344,45 | 149.182.166,26 |

| Valeur nette d'inventaire |
| --- |
| EUR |
|  | 31 décembre 2018 | 31 décembre 2019 | 31 décembre 2020 |
| Classe | du compartiment | d'une action | du compartiment | d'une action | du compartiment | d'une action |
| A | 503.505.354,52 | 50,45 | 463.875.004,59 | 53,92 | 662.085.800,58 | 55,04 |
| B | 81,42 | 88,93 | 91,86 |
| E | 52,95 | 56,76 | 57,88 |
| F | 83,37 | 91,32 | 94,55 |
| J | 25.431,86 | 27.883,91 | 28.898,60 |
| L | 0,00 | 88,91 | 91,68 |
| L | 0,00 | 0,00 | 0,00 |
| M | 50,55 | 54,15 | 55,22 |
| N | 81,66 | 89,37 | 92,51 |
| P | 84,25 | 92,46 | 95,93 |
| V | 50,43 | 54,03 | 55,11 |
| W | 82,09 | 89,87 | 93,03 |
| TOTAL | 503.505.354,52 |  | 463.875.004,59 |  | 662.085.800,58 |  |


## A la date de publication du présent rapport, la valeur nette d'inventaire par action est publiée sur les sites suivants:

## www.dpamfunds.com et www.beama.be. Cette information est également disponible aux guichets du service financier.
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