# EVOLUTION OF SUBSCRIPTIONS, REDEMPTIONS AND THE NET ASSET VALUE
| Evolution of the number of shares in circulation |
| --- |
|  | 30 June 2017 | 31 December 2018 | 31 December 2019 |
| Class | Subscriptions | Redemptions | End of Period | Subscriptions | Redemptions | End of Period | Subscriptions | Redemptions | End of Period |
| A (Dis) | 23,664.00 | 2,762.00 | 20,902.00 | 205,264.75 | 148,182.00 | 77,984.75 | 6,540.00 | 27,809.85 | 56,714.91 |
| B (Cap) | 113,756.00 | 924,662.00 | 2,124,906.00 | 239,390.92 | 1,497,833.10 | 866,463.82 | 44,791.85 | 334,255.60 | 577,000.06 |
| E (Dis) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| F (Cap) | 267,005.00 | 92,278.00 | 416,304.00 | 98,874.47 | 336,528.35 | 178,650.12 | 25,985.00 | 105,709.00 | 98,926.12 |
| I | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| J (Cap) | 0.00 | 0.00 |  | 22,947.56 | 21,717.87 | 1,229.68 | 0.00 | 1,229.68 |  |
| M (Dis) | 0.00 | 0.00 | 0.00 | 141,292.07 | 32,449.46 | 108,842.61 | 13,693.00 | 47,852.76 | 74,682.86 |
| N (Cap) | 0.00 | 0.00 | 0.00 | 858,864.57 | 139,429.21 | 719,435.37 | 32,951.68 | 269,519.84 | 482,867.20 |
| P (Cap) | 4,595.00 | 4,285.00 | 27,922.00 | 16,502.00 | 41,227.00 | 3,197.00 | 132.00 | 2,404.00 | 925.00 |
| TOTAL |  |  | 2,590,034.00 |  |  | 1,955,803.35 |  |  | 1,291,116.15 |

| Payable and receivable amounts for the UCI |
| --- |
| EUR |
|  | 30 June 2017 | 31 December 2018 | 31 December 2019 |
| Class | Subscriptions | Redemptions | Subscriptions | Redemptions | Subscriptions | Redemptions |
| A (Dis) | 2,590,998.73 | 292,512.02 | 23,582,791.34 | 16,904,174.91 | 705,555.00 | 2,972,847.81 |
| B (Cap) | 11,889,995.04 | 90,539,268.07 | 27,707,593.65 | 172,196,173.95 | 5,206,455.41 | 38,601,393.61 |
| E (Dis) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| F (Cap) | 108,088,390.75 | 35,461,956.20 | 44,759,500.75 | 154,757,170.15 | 11,834,757.35 | 48,716,934.47 |
| I | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| J (Cap) | 0.00 | 0.00 | 573,688,875.00 | 567,748,166.00 | 0.00 | 30,249,941.07 |
| M (Dis) | 0.00 | 0.00 | 16,043,481.26 | 3,683,524.43 | 1,551,017.00 | 5,302,553.48 |
| N (Cap) | 0.00 | 0.00 | 98,968,849.74 | 16,021,643.87 | 3,798,769.11 | 31,322,872.77 |
| P (Cap) | 71,802,183.33 | 57,226,906.60 | 262,742,127.46 | 642,743,953.97 | 2,240,733.08 | 41,715,749.91 |
| TOTAL | 194,371,567.85 | 183,520,642.89 | 1,047,493,219.20 | 1,574,054,807.28 | 25,337,286.95 | 198,882,293.12 |

| net asset value |
| --- |
| EUR |
|  | 30 June 2017 | 31 December 2018 | 31 December 2019 |
| Class | of the subfund | Per share | of the subfund | Per share | of the subfund | Per share |
| A (Dis) | 860,187,266.10 | 112.25 | 325,408,468.43 | 98.97 | 220,412,968.72 | 121.21 |
| B (Cap) | 112.32 | 101.41 | 128.41 |
| E (Dis) | 0.00 | 0.00 | 0.00 |
| F (Cap) | 452.71 | 410.43 | 521.18 |
| I | 0.00 | 0.00 | 0.00 |
| J (Cap) |  | 22,535.33 |  |
| M (Dis) | 0.00 | 99.17 | 121.39 |
| N (Cap) | 0.00 | 101.62 | 129.00 |
| P (Cap) | 15,425.64 | 14,038.42 | 17,872.35 |
| TOTAL | 860,187,266.10 |  | 325,408,468.43 |  | 220,412,968.72 |  |

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Translation (ENFR, 2019-12-31):
# EVOLUTION DES SOUSCRIPTIONS, DES REMBOURSEMENTS ET DE LA VALEUR NETTE D’INVENTAIRE
| Evolution du nombre d'actions en circulation |
| --- |
|  | 30 juin 2017 | 31 décembre 2018 | 31 décembre 2019 |
| Classe | Souscrites | Remboursées | Fin de période | Souscrites | Remboursées | Fin de période | Souscrites | Remboursées | Fin de période |
| A (Dis) | 3.025,00 | 17.375,00 | 18.239,00 | 3.768,00 | 15.098,00 | 6.909,00 | 322,26 | 806,00 | 6.425,26 |
| B (Cap) | 26.188,00 | 31.092,00 | 24.067,00 | 6.452,00 | 14.976,00 | 15.543,00 | 1.500,00 | 5.066,00 | 11.977,00 |
| E (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 44.000,00 | 0,00 | 44.000,00 |
| F (Cap) | 189.511,00 | 96.842,00 | 540.252,00 | 171.560,51 | 293.280,00 | 418.532,51 | 71.702,00 | 194.881,00 | 295.353,51 |
| I (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| J (Cap) | 0,00 | 0,00 | 0,00 | 4.519,00 | 0,00 | 4.519,00 | 0,00 | 0,00 | 4.519,00 |
| M (Dis) | 0,00 | 0,00 | 0,00 | 6.920,90 | 495,00 | 6.425,90 | 0,00 | 259,94 | 6.165,96 |
| N (Cap) | 0,00 | 0,00 | 0,00 | 2.379,38 | 204,98 | 2.174,40 | 0,00 | 129,96 | 2.044,44 |
| P (Cap) | 879,00 | 0,00 | 879,00 | 4.055,00 | 1.289,00 | 3.645,00 | 22,00 | 1.401,00 | 2.266,00 |
| V (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| W (Cap) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| Z | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| TOTAL |  |  | 583.437,00 |  |  | 457.748,81 |  |  | 372.751,17 |

| Montants payés et reçus par l’OPC |
| --- |
| EUR |
|  | 30 juin 2017 | 31 décembre 2018 | 31 décembre 2019 |
| Classe | Souscrites | Remboursées | Souscrites | Remboursées | Souscrites | Remboursées |
| A (Dis) | 1.347.363,45 | 7.839.228,96 | 1.669.068,01 | 6.662.095,59 | 143.223,36 | 359.311,38 |
| B (Cap) | 12.600.083,46 | 14.802.135,23 | 3.109.384,57 | 7.192.165,24 | 745.260,00 | 2.510.477,49 |
| E (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 19.901.640,00 | 0,00 |
| F (Cap) | 91.385.397,22 | 46.614.013,76 | 83.395.028,13 | 141.940.901,64 | 35.778.036,90 | 97.252.001,28 |
| I (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| J (Cap) | 0,00 | 0,00 | 113.804.780,03 | 0,00 | 0,00 | 0,00 |
| M (Dis) | 0,00 | 0,00 | 3.052.388,54 | 215.654,40 | 0,00 | 117.329,88 |
| N (Cap) | 0,00 | 0,00 | 1.150.272,04 | 97.824,48 | 0,00 | 63.191,59 |
| P (Cap) | 21.975.000,00 | 0,00 | 102.844.935,60 | 32.683.200,83 | 580.662,50 | 35.968.588,03 |
| V (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| W (Cap) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| Z | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| TOTAL | 127.307.844,13 | 69.255.377,95 | 309.025.856,92 | 188.791.842,18 | 57.148.822,76 | 136.270.899,65 |

| Valeur nette d'inventaire |
| --- |
| EUR |
|  | 30 juin 2017 | 31 décembre 2018 | 31 décembre 2019 |
| Classe | du compartiment | d'une action | du compartiment | d'une action | du compartiment | d'une action |
| A (Dis) | 303.004.938,97 | 447,04 | 425.466.747,65 | 440,13 | 359.399.169,07 | 449,42 |
| B (Cap) | 480,08 | 481,00 | 496,25 |
| E (Dis) | 0,00 | 0,00 | 449,56 |
| F (Cap) | 483,31 | 486,03 | 502,47 |
| I (Dis) | 0,00 | 0,00 | 0,00 |
| J (Cap) | 0,00 | 25.427,19 | 26.308,91 |
| M (Dis) | 0,00 | 440,67 | 449,81 |
| N (Cap) | 0,00 | 481,63 | 497,74 |
| P (Cap) | 25.242,76 | 25.444,25 | 26.346,32 |
| V (Dis) | 0,00 | 0,00 | 0,00 |
| W (Cap) | 0,00 | 0,00 | 0,00 |
| Z | 0,00 | 0,00 | 0,00 |
| TOTAL | 303.004.938,97 |  | 425.466.747,65 |  | 359.399.169,07 |  |

2.8%
2.7%
1.3%
1.1%
3.2%
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