# BNP PARIBAS BOND 6M (ex BNP PARIBAS BOND CASH EQUIVALENT)
Fonds Commun de Placement (Mutual Fund)
Management company:
BNP PARIBAS ASSET MANAGEMENT France
1 boulevard Haussmann
75009 Paris, France

## Statutory Auditor's report on the annual financial statements
Financial year ended 31 March 2022
To unitholders of the BNP PARIBAS BOND 6M Fund (formerly BNP PARIBAS BOND CASH EQUIVALENT),
Opinion
In performing the task entrusted to us by the management company, we carried out the audit of the annual financial statements of the BNP PARIBAS BOND 6M (formerly BNP PARIBAS BOND CASH EQUIVALENT) undertaking for collective investment established in the form of a Mutual Fund (Fonds Commun de Placement, FCP) for the financial year ended 31 March 2022, which are attached to this report.
We certify that the annual financial statements are, in conformity with French accounting rules and principles, accurate and consistent and give a true and fair view of the financial performance of the previous financial year as well as the financial position and assets of the Fund at the end of this financial year.

##### Basis of opinion on the annual financial statements Audit terms of reference
We have conducted our audit in accordance with the standards of professional practice
applicable in France. We believe that the evidence gathered is sufficient and appropriate to justify our opinion.
Société par actions simplifiée (simplified joint-stock company) with capital of €2,188,160 Accounting firm registered with the Paris Île-de-France Tableau de l'Ordre
Auditing firm and member of the Compagnie Régionale de Versailles (Regional Association of Statutory Auditors) Nanterre Trade and Companies Register No. 572 028 041
VAT: FR 02 572 028 041
Our responsibilities pursuant to these standards are set out in the "Statutory Auditor's responsibilities regarding the audit of the annual financial statements" section of this report.
Independence
We carried out our audit in accordance with the rules of independence laid down in the French Commercial Code and the Code of Ethics for Statutory Auditors, for the period from 1 April 2021, to the date of issue of our report.
Justification of assessments
The global crisis related to the COVID-19 pandemic has created special conditions for the preparation and audit of this financial year's accounts. Indeed, this crisis and the exceptional measures taken in the context of a state of health emergency have multiple consequences for the funds, their investments and the valuation of the corresponding assets and liabilities. Some of these measures, such as travel restrictions and remote working, have also had an impact on the operational management of the funds and on the measures for implementing audits.
It is in this complex and ever-changing context that, in accordance with the provisions of Articles L. 823-9 and R. 823-7 of the French Commercial Code relating to the justification of our assessments, we would inform you that our most significant assessments, in our professional opinion, were based on the appropriateness of the accounting principles applied, particularly as regards the financial instruments in the portfolio, and on the overall presentation of the annual financial statements, pursuant to the chart of accounts for open- ended undertakings for collective investment.
The assessments were made as part of our audit of the annual financial statements, taken as a whole, and therefore contributed to the formation of the opinion expressed in the first part of this report. We have no comment to make on any individual aspect of these annual financial statements.
Specific verifications
In accordance with the standards of professional practice applicable in France, we have also conducted the specific verifications required by the legal and regulatory provisions.
We have no observations to make concerning the fairness and the consistency with the annual financial statements of the data provided in the Management Company's management report.
Responsibilities of the Management Company relating to the annual financial statements
It is the management company's responsibility to prepare annual financial statements that give a true and fair view, in accordance with French accounting rules and principles, and to implement the internal controls it deems necessary for the preparation of annual financial statements that do not include any material misstatement, whether due to fraud or error.
When preparing the annual financial statements, it is the Management Company's responsibility to assess the Fund's ability to continue as a going concern, to present in said financial statements, where applicable, the necessary information relating to its viability as a going concern and to apply the going concern accounting policy, unless it intends to wind up the Fund or to cease trading.
The annual financial statements have been prepared by the Management Company.
Statutory Auditor's responsibilities regarding the audit of the annual financial statements
It is our responsibility to draw up a report on the annual financial statements. Our aim is to obtain reasonable assurance that the annual financial statements, taken as a whole, are free of material misstatement. Reasonable assurance corresponds to a high level of assurance, but does not guarantee that an audit performed in accordance with the standards of professional practice can systematically detect any material misstatement. Misstatements may arise from fraud or error and are considered material where it can reasonably be expected that, taken individually or together, they may influence the economic decisions made by users of the annual financial statements that are based upon such misstatements.
As specified by Article L. 823-10-1 of the French Commercial Code, our mission is to certify the financial statements, and not to guarantee the viability or the quality of the management of your Fund.
As part of an audit performed in accordance with the standards of professional practice applicable in France, the Statutory Auditor exercises its professional judgement throughout this audit. In addition:
- It identifies and assesses the risks that the annual financial statements may contain material misstatement, whether due to fraud or error, sets out and implements the audit procedures intended to counter these risks, and collates the items that it deems sufficient and appropriate to justify its opinion. The risk of non-detection of a material misstatement due to fraud is higher than that of non-detection of a material misstatement due to an error, since fraud may involve collusion, forgery, deliberate omissions, misrepresentation or the circumvention of internal control processes;
- It takes note of the internal control processes relevant to the audit so as to set out audit procedures that are appropriate to the circumstances, and not for the purpose of expressing an opinion on the effectiveness of the internal control processes;
- It assesses the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the management company, as well as the information provided in their regard in the annual financial statements;
- It assesses the appropriateness of the application by the Management Company of the going concern accounting policy and, based on the evidence gathered, whether or not there is significant uncertainty relating to events or circumstances that may affect the Fund's ability to continue as a going concern. This assessment is based on the evidence gathered up to the date of its report, on the understanding that subsequent events or circumstances may affect its viability as a going concern. If it concludes that there is significant uncertainty, it draws the attention of the reader of its report to the information provided in the annual financial statements about this uncertainty or, if this information is not provided or is not relevant, it issues certification with a reservation or a refusal to certify;
- It appraises the overall presentation of the annual financial statements and assesses whether said statements reflect the transactions and underlying events such that they provide a true and fair view thereof.

Paris La Défense, 
5 July 2022
The Statutory Auditor Deloitte & Associés
Assets
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Net fixed assets | - | - |
| Deposits | - | - |
| Financial instruments | 4,513,099,110.05 | 2,545,423,087.92 |
| Equities and equivalent securities | - | - |
| Traded on a regulated or equivalent market | - | - |
| Not traded on a regulated or equivalent market | - | - |
| Bonds and equivalent securities | 1,533,150,149.41 | 717,493,035.79 |
| Traded on a regulated or equivalent market | 1,533,150,149.41 | 717,493,035.79 |
| Not traded on a regulated or equivalent market | - | - |
| Debt securities | 2,529,908,799.21 | 1,587,048,775.06 |
| Traded on a regulated or equivalent market – Negotiable debt securities | 163,081,925.65 | 222,936,414.79 |
| Traded on a regulated or equivalent market – Other debt securities | 2,366,826,873.56 | 1,364,112,360.27 |
| Not traded on a regulated or equivalent market | - | - |
| Securities in undertakings for collective investment | 445,014,356.75 | 240,345,623.69 |
| Retail UCITS and AIFs and their equivalents from other European Union member states intended for non-professional investors | 445,014,356.75 | 240,345,623.69 |
| Other funds and their equivalents from other European Union member states intended for non-professional investors | - | - |
| Retail professional investment funds and their equivalents from other European Union member states and listed securitisation undertakings | - | - |
| Other professional investment funds and their equivalents from other European Union member states and unlisted securitisation undertakings | - | - |
| Other non-European undertakings | - | - |
| Temporary securities transactions | - | - |
| Receivables representing securities received under repurchase agreements | - | - |
| Receivables representing loaned securities | - | - |
| Borrowed securities | - | - |
| Securities assigned under repurchase agreements | - | - |
| Other temporary transactions | - | - |
| Forward financial instruments | 5,025,804.68 | 535,653.38 |
| Transactions on a regulated or equivalent market | - | - |
| Other transactions | 5,025,804.68 | 535,653.38 |
| Other assets: Loans | - | - |
| Other financial instruments | - | - |
| Receivables | 454,538,992.78 | 1,499,705.40 |
| Forward foreign exchange transactions | 448,321,938.43 | 21,091.77 |
| Other | 6,217,054.35 | 1,478,613.63 |
| Financial accounts | 189,721,533.26 | 57,941,902.61 |
| Cash | 189,721,533.26 | 57,941,902.61 |
| TOTAL ASSETS | 5,157,359,636.09 | 2,604,864,695.93 |

Liabilities
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Shareholders' equity | - | - |
| Capital | 4,631,689,858.82 | 2,579,203,118.83 |
| Undistributed previous net capital gains and losses (a) | - | - |
| Balance carried forward (a) | 250.09 | 26.81 |
| Net capital gains and losses for the financial year (a, b) | 2,856,770.09 | -39,795,016.52 |
| Profit/loss for the financial year (a, b) | 45,176,762.98 | 30,592,518.97 |
| Total shareholders' equity (= Amount representing net assets) | 4,679,723,641.98 | 2,570,000,648.09 |
| Financial instruments | 1,018.77 | 73,744.71 |
| Disposals of financial instruments | - | - |
| Temporary securities transactions | - | - |
| Debts representing securities assigned under repurchase agreements | - | - |
| Debts representing borrowed securities | - | - |
| Other temporary transactions | - | - |
| Forward financial instruments | 1,018.77 | 73,744.71 |
| Transactions on a regulated or equivalent market | - | - |
| Other transactions | 1,018.77 | 73,744.71 |
| Debts | 477,634,975.34 | 34,790,303.13 |
| Forward foreign exchange transactions | 442,428,445.67 | 20,943.23 |
| Other | 35,206,529.67 | 34,769,359.90 |
| Financial accounts | - | - |
| Bank loans and overdrafts | - | - |
| Borrowings | - | - |
| TOTAL LIABILITIES | 5,157,359,636.09 | 2,604,864,695.93 |

- Including accruals and deferrals.
- Less interim dividends paid during the financial year.

Off-balance sheet
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Hedging transactions Commitments on regulated or equivalent markets Futures sale EURO-SCHATZ FUTURE 08/06/2022 | 266,760,615.00 |  |
|  | - |
| sale SHORT-TERM EURO-BTP FUTURES 08/06/2022 | 30,849,660.00 | - |
| Over-the-counter commitments Interest rate swaps purchase IRS101 | - | 100,000,000.00 |
| purchase IRS101 | 100,000,000.00 | 100,000,000.00 |
| purchase IRS102 | - | 50,000,000.00 |
| purchase IRS102 | 50,000,000.00 | 50,000,000.00 |
| purchase IRS103 | - | 100,000,000.00 |
| purchase IRS103 | 100,000,000.00 | 100,000,000.00 |
| purchase IRS104 | - | 100,000,000.00 |
| purchase IRS104 | 100,000,000.00 | 100,000,000.00 |
| purchase IRS106 | 50,000,000.00 | - |
| purchase IRS107 | 100,000,000.00 | - |
| purchase IRS108 | 100,000,000.00 | - |
| purchase IRS109 | 100,000,000.00 | - |
| purchase IRS110 | 200,000,000.00 | - |
| purchase IRS111 | 50,000,000.00 | - |
| purchase IRS113 | 100,000,000.00 | - |
| purchase IRS114 | 100,000,000.00 | - |
| purchase IRS115 | 100,000,000.00 | - |
| purchase IRS116 | 200,000,000.00 | - |
| purchase IRS117 | 200,000,000.00 | - |
| purchase IRS118 | 300,000,000.00 | - |
| purchase IRS119 | 200,000,000.00 | - |
| purchase IRS125 | 200,000,000.00 | - |
| purchase IRS126 | 300,000,000.00 | - |
| purchase IRS127 | 300,000,000.00 | - |
| purchase IRS128 | 200,000,000.00 | - |
| purchase IRS129 | 200,000,000.00 | - |
| purchase IRS130 | 200,000,000.00 | - |
| purchase IRS131 | 350,000,000.00 | - |
| purchase IRS133 | 250,000,000.00 | - |
| purchase IRS134 | 400,000,000.00 | - |
| purchase IRS135 | 200,000,000.00 | - |
| purchase IRS136 | 100,000,000.00 | - |
| purchase IRS137 | 100,000,000.00 | - |
| purchase IRS138 | 50,000,000.00 | - |
| purchase IRS64 | - | 100,000,000.00 |

Off-balance sheet
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| purchase IRS65 | - | 100,000,000.00 |
| purchase IRS70 | - | 50,000,000.00 |
| purchase IRS72 | - | 50,000,000.00 |
| purchase IRS73 | - | 50,000,000.00 |
| purchase IRS75 | - | 50,000,000.00 |
| purchase IRS76 | - | 50,000,000.00 |
| purchase IRS78 | - | 50,000,000.00 |
| purchase IRS79 | - | 50,000,000.00 |
| purchase IRS80 | - | 50,000,000.00 |
| purchase IRS82 | - | 50,000,000.00 |
| purchase IRS83 | - | 50,000,000.00 |
| purchase IRS84 | - | 50,000,000.00 |
| purchase IRS85 | - | 50,000,000.00 |
| purchase IRS88 | - | 50,000,000.00 |
| purchase IRS89 | - | 50,000,000.00 |
| purchase IRS91 | - | 50,000,000.00 |
| purchase IRS93 | - | 100,000,000.00 |
| purchase IRS94 | - | 100,000,000.00 |
| purchase IRS95 | - | 50,000,000.00 |
| purchase IRS96 | - | 100,000,000.00 |
| purchase IRS97 | - | 100,000,000.00 |
| purchase IRS98 | - | 50,000,000.00 |
| Other commitments |  |  |
| Other transactions |  |  |
| Commitments on regulated or equivalent markets |  |  |
| Futures |  |  |
| purchase EURO-SCHATZ FUTURE 08/06/2021 | - | 11,322,100.00 |
| Over-the-counter commitments |  |  |
| Other commitments |  |  |

Income statement
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Income from financial transactions | - | - |
| Income from equities and equivalent securities | 0.01 | 26.52 |
| Income from bonds and equivalent securities | 10,835,290.33 | 4,202,650.84 |
| Income from debt securities | 28,134,439.50 | 21,503,457.13 |
| Income from temporary purchases and sales of securities | - | - |
| Income from forward financial instruments | 313,059.58 | 403,161.53 |
| Income from deposits and financial accounts | - | - |
| Other financial income | 101,395.88 | 1,140.68 |
| TOTAL I | 39,384,185.30 | 26,110,436.70 |
| Expenses on financial transactions | - | - |
| Expenses on temporary purchases and sales of securities | - | - |
| Expenses on forward financial instruments | -136,476.39 | -428,256.79 |
| Expenses on financial debts | -467,276.02 | -396,123.55 |
| Other financial expenses | - | - |
| TOTAL II | -603,752.41 | -824,380.34 |
| Profit/loss on financial transactions (I + II) | 38,780,432.89 | 25,286,056.36 |
| Other income (III) | - | - |
| Management fees and provisions for depreciation (IV) | -3,148,895.87 | -3,607,198.93 |
| Net income for the financial year (I + II + III + IV) | 35,631,537.02 | 21,678,857.43 |
| Accrued income for the financial year (V) | 9,545,225.96 | 8,913,661.54 |
| Interim dividends paid during the financial year (VI) | - | - |
| Profit/loss (I + II + III + IV + V + VI) | 45,176,762.98 | 30,592,518.97 |


### Accounting Principles and Policies
The annual financial statements are presented in the form provided for by ANC Regulation No. 2014-01, as amended. The accounts have been established by the Management Company on the basis of the available elements in the context of an evolving COVID-19 crisis.
The accounting currency is the euro.
All transferable securities held in the portfolio are recognised at historical cost, excluding charges.
Securities, futures and options held in the portfolio denominated in a foreign currency are converted into the accounting currency based on the exchange rates in Paris on the valuation day.
The portfolio's value is appraised whenever the net asset value is calculated and at the end of the accounting period using the following methods:

##### Transferable securities
Listed securities: at stock market value, including accrued coupons (at the day's closing price)
However, transferable securities for which the price is not established on the valuation day or which are quoted by contributors and for which the price has been adjusted, and securities that are not traded on a regulated market, are valued under the responsibility of the Management Company (or the Board of Directors for an open-ended investment company (société d'investissement à capital variable – SICAV)), at their likely trading value. Prices are adjusted by the Management Company based on its knowledge of the issuers and/or markets.
UCIs: at their last known net asset value or, if unavailable, at their last estimated value. The net asset values of the securities of foreign undertakings for collective investment valued on a monthly basis are confirmed by the fund administrators. Valuations are updated weekly based on the estimates issued by the administrators of these UCIs and validated by the fund manager.
Negotiable debt securities and equivalent securities that are not traded in high volumes are valued using an actuarial method at a rate applicable to issues of equivalent securities, to which a variance representative of the intrinsic features of the issuer is assigned, if appropriate. In the absence of sensitivity, securities with a residual term of three months are valued at the most recent rate until maturity; for those acquired for periods of less than three months, the interest is calculated on a straight-line basis.
Euro Medium Term Notes (EMTN) are valued at their market value, based on prices reported by the counterparties. These valuations are subject to controls by the Management Company.
Temporary purchases and sales of securities:
- Securities lending: the receivable representing the securities lent is valued at the securities' market value.
- Securities borrowing: the borrowed securities and the corresponding debt are valued at the securities' market value.
- Collateral: With regard to securities received as collateral when lending securities, the UCI has chosen to include these securities in the balance sheet using the value of the debt corresponding to the obligation to return these securities.
- Repurchase agreements with a residual term of three months or less: individualisation of the receivable based on the contract price. In this case, the remuneration is calculated on a straight-line basis.
- Long-term repurchase agreements: These are recorded and valued at their nominal amount, even if their maturity date extends beyond three months. Any associated accrued interest is added to this amount. However, some contracts provide special terms in the event of requests for early repayment in order to take into account the impact of the increase in the counterparty's financing curve. Accrued interest may then be reduced by this impact, with no applicable floor. The impact is in proportion to the residual maturity of the agreement and the difference between the contractual margin and the market margin for the same maturity date.
- Repurchase agreements with a residual maturity of three months or less: stock market value. The debt valued on the basis of the contractual value is recorded as a balance sheet liability. In this case, the remuneration is calculated on a straight-line basis.


##### Forward financial instruments and options
Futures: at the day's settlement price.
The off-balance sheet valuation is calculated on the basis of the nominal value, its settlement price and, where appropriate, the exchange rate.
Options: the day's closing price or, failing this, the last known price.
Over-the-counter options: These options are valued at their market value, based on prices reported by the counterparties. These valuations are subject to controls by the Management Company.
The off-balance sheet valuation is calculated as an underlying equivalent based on the delta and the price of the underlying asset and, where appropriate, the exchange rate.
Forward exchange contracts: revaluation of foreign currency commitments at the daily rate with the premium/discount calculated according to the term of the contract.
Term deposits: These are recorded and valued at their nominal amount, even if their maturity date extends beyond three months. Any associated accrued interest is added to this amount. However, some contracts provide special terms in the event of requests for early repayment in order to take into account the impact of the increase in the counterparty's financing curve. Accrued interest may then be reduced by this impact, but cannot be negative. Term deposits are valued at least at their nominal value.
Interest rate swaps:
- for swaps with a maturity of less than three months, interest is calculated on a straight-line basis.
- swaps with a maturity of more than three months are revalued at market value.

Synthetic products (a security linked to a swap) are recognised as a whole. Interest accrued on swaps forming part of these products is valued on a straight-line basis.
Asset swaps and synthetic products are valued on the basis of their market value. The valuation of asset swaps is based on the valuation of hedged securities, less the impact of changes in credit spreads. This impact is valued using the average of the spreads reported monthly by four counterparties, adjusted by a margin that depends on the rating of the issuer.
The off-balance sheet commitment for swaps corresponds to their nominal value.
Structured swaps (swaps with optional components): These swaps are valued at their market value, based on prices reported by the counterparties. These valuations are subject to controls by the Management Company.
The off-balance sheet commitment of these swaps corresponds to their nominal value.
The index swaps valuation, calculated by the OTC Pricing & Services team, is used to calculate the net asset value after checking its consistency with the counterparty's valuation if this is received within the deadlines. If this is unavailable or inconsistent, OTC Pricing & Services approaches the counterparty to identify and resolve the problems.
The off-balance sheet commitment for these swaps corresponds to their nominal value.
The valuation price of credit default swaps (CDS) comes from a contributor provided by the management company. The off-balance sheet commitment of CDS corresponds to their nominal value.

##### Financial management fees and administrative fees external to the Management Company
- Maximum 0.50% incl. tax for the Classic unit
- Maximum 0.25% incl. tax for the R unit
- Maximum 0.25% incl. tax for the I Plus unit
- Maximum 0.70% incl. tax for the Mandat unit
- Maximum 0.80% incl. tax for the X unit
- Maximum 0.30% incl. tax for the I unit
- Maximum 0.30% incl. tax for the I USD H unit
- Maximum 0.30% incl. tax for the I GBP H unit
- Maximum 0.25% incl. tax for the Privilege unitThe fees are calculated on the basis of net assets, after deduction of portfolio shares and units of UCIs. These fees, not including transaction fees, will be charged directly to the Fund's income statement.

These fees cover all of the costs invoiced directly to the UCI, except for transaction fees. Transaction costs include intermediary fees (brokerage, stock market taxes etc.) as well as transaction fees, if any, that may be charged by the depositary and the management company, in particular.

##### Research expenses
None

##### Performance fees
"Classic", "R", "Mandat", "I", "Privilege" and "I Plus" unit classes:
20% inclusive of tax of a performance exceeding or equal to the composite benchmark 80% capitalised €STR + 20% Bloomberg Barclays Euro Aggregate 1–3 Years over the reference period
I USD H unit class:
20% inclusive of tax of a performance exceeding or equal to that of the composite benchmark 80% Effective Federal Funds Rate + 20%
Bloomberg Barclays Euro Aggregate 1–3 Years hedged in US dollars over the reference period
"I GBP H" unit class:
20% inclusive of tax of a performance exceeding or equal to the composite benchmark 80% SONIA + 20% Bloomberg Barclays Euro Aggregate 1–3 Years hedged in pounds sterling over the reference period

#### METHOD FOR CALCULATING OUTPERFORMANCE FEES:
Each time the net asset value is established, the outperformance of the Fund is defined as the positive difference between the net assets of the Fund before taking into account any provision for outperformance fees and the net assets of a fictitious UCITS achieving benchmark performance and recording the same subscription and redemption scheme (in quantity) as the actual Fund with application of the High Water Mark.
High Water Mark mechanism: the performance fee will be charged to the Fund if, and only if, the net asset value recorded on the last trading day of the period is greater than the highest net asset values recorded on the last trading day of each previous period.
The first reference period for gauging the performance of Classic, R, Mandat and I units will be between 1 January 2018 and 31 March 2019. Subsequent reference periods will be between 1 April and 31 March each year.
The first reference period for measuring the performance of the "Privilege" units will be between 29 January 2018 and 31 March 2019. The first reference period for measuring the performance of the I USD H units will be between 4 September 2018 and 31 March 2020.
The first reference period for measuring the performance of the "I Plus" and "I GBP H" units will be between 1 April 2021 and 31 March 2022.
- If, over the period, the performance of the Fund is less than or equal to the reference rate previously defined, the variable share of management fees will be zero.
- If, over the period, the Fund's performance is greater than the reference rate and the High Water Mark mechanism applies, the variable portion of the management fees will represent up to 20% incl. tax of the positive difference between the performance of the Fund and this reference rate.

In the event of a redemption, the share of the performance fee provision corresponding to the units redeemed is definitively acquired by the financial manager, and is made available to the provision for final performance fees. The share of the performance fee provision corresponding to the remaining units in the Fund is called the available performance fee provision (as it can be challenged).

##### Retrocession of management fees
None.

##### Method used to recognise interest
Interest received

##### Allocation of income
Accumulation for the Classic C unit Accumulation for the R unit Accumulation for the Mandat unit Accumulation for the X unit Accumulation for the I unit Accumulation for the I USD H unit Accumulation for the Privilege unit Accumulation for I Plus units Accumulation for the I GBP H unit Distribution for the Classic D unit

##### Allocation of net realised capital gains
Accumulation for the Classic C unit Accumulation for the R unit Accumulation for the Mandat unit Accumulation for the X unit Accumulation for the I unit Accumulation for the I USD H unit Accumulation for the Privilege unit Accumulation for I Plus units Accumulation for the I GBP H unit Accumulation for the Classic D unit

##### Changes affecting the Fund
None
Change in net assets
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Net assets at the beginning of the financial year | 2,570,000,648.09 | 1,486,197,027.85 |
| Subscriptions (including subscription fees paid to the UCI) | 4,903,010,620.30 | 2,390,212,234.04 |
| Redemptions (after deduction of redemption fees paid to the UCI) | -2,771,367,734.31 | -1,334,095,388.09 |
| Capital gains realised on deposits and financial instruments | 2,640,408.60 | 2,025,027.20 |
| Capital losses realised on deposits and financial instruments | -20,611,512.29 | -29,260,262.17 |
| Capital gains realised on forward financial instruments | 1,457,045.67 | 44,955.00 |
| Capital losses realised on forward financial instruments | -1,604,605.00 | -24,225.00 |
| Transaction fees | -17,705.53 | -1,313.50 |
| Exchange differences | 20,613,235.25 | -468.05 |
| Change in the valuation difference for deposits and financial instruments: | -67,767,570.06 | 32,573,498.88 |
| Valuation difference, financial year N | -76,533,371.35 | -8,765,801.29 |
| Valuation difference, financial year N-1 | 8,765,801.29 | 41,339,300.17 |
| Change in the valuation difference for forward financial instruments: | 7,853,741.89 | 789,155.63 |
| Valuation difference, financial year N | 8,315,650.56 | 461,908.67 |
| Valuation difference, financial year N-1 | -461,908.67 | 327,246.96 |
| Distribution from the previous financial year on net capital gains and losses | - | - |
| Distribution from the previous financial year on income | -114,467.65 | -138,451.13 |
| Net income for the financial year before accruals and deferrals | 35,631,537.02 | 21,678,857.43 |
| Interim dividend(s) paid during the financial year on net capital gains and losses | - | - |
| Interim dividend(s) paid during the financial year on income | - | - |
| Other items | - | - |
| Net assets at the end of the financial year | 4,679,723,641.98 | 2,570,000,648.09 |

Additional information 1
|  | Financial year 31/03/2022 |
| --- | --- |
| Commitments received or given Commitments received or given (capital surety or other commitments) (*) | - |
| Current value of financial instruments registered in the portfolio constituting collateral deposits Financial instruments received as collateral and not recorded on the balance sheet | - |
| Financial instruments given as collateral and kept under the original item | - |
| Financial instruments in the portfolio issued by the provider or entities in its group Deposits | - |
| Equities | - |
| Interest rate securities | 77,709,665.05 |
| UCIs | 445,014,356.75 |
| Temporary purchases and sales of securities | - |
| Swaps (nominal) | 50,000,000.00 |
| Current value of financial instruments subject to a temporary purchase Securities acquired under repurchase agreements | - |
| Securities received under resale agreements | - |
| Borrowed securities | - |

(*) For guaranteed UCIs, the information appears in the accounting principles and policies.
Additional information 2
| Issues and redemptions during the financial year | Financial year 31/03/2022 |
| --- | --- |
| Number of securities |
| X class (Currency: EUR) Number of securities issued | 31,930.041 |
| Number of securities redeemed | 20,980.005 |
| Classic D class (Currency: EUR) Number of securities issued | 189.647 |
| Number of securities redeemed | 6,332.757 |
| R class (Currency: EUR) Number of securities issued | 6,262.554 |
| Number of securities redeemed | 3,915.889 |
| Mandat class (Currency: EUR) Number of securities issued | 1,307.190 |
| Number of securities redeemed | 1,321.165 |
| I class (Currency: EUR) Number of securities issued | 19,934.812 |
| Number of securities redeemed | 18,518.684 |
| Privilege class (Currency: EUR) Number of securities issued | 70,469.513 |
| Number of securities redeemed | 75,370.913 |
| I USD H class (Currency: USD) Number of securities issued | 4,701.679 |
| Number of securities redeemed | 0.389 |
| I GBP H class (Currency: GBP) Number of securities issued | - |
| Number of securities redeemed | - |
| I Plus class (Currency: EUR) Number of securities issued | 20,310.297 |
| Number of securities redeemed | 5,395.166 |
| Classic C class (Currency: EUR) Number of securities issued | 1,698,244.958 |
| Number of securities redeemed | 1,454,969.160 |
| Subscription and/or redemption fees | Amount (EUR) |
| Subscription fees paid to the UCI | - |
| Redemption fees paid to the UCI | - |
| Subscription fees received and shared | 3,230,399.11 |
| Redemption fees received and shared | - |

Additional information 2
| Management fees | Financial year 31/03/2022 | % of average net assets |
| --- | --- | --- |
| Amount (EUR) |
| X class (Currency: EUR) |  |  |
| Operating and management fees (*) | 27,215.78 | 0.04 |
| Performance fees | - | - |
| Other charges | - | - |
| Classic D class (Currency: EUR) |  |  |
| Operating and management fees (*) | 9,143.14 | 0.11 |
| Performance fees | 94.99 | - |
| Other charges | - | - |
| R class (Currency: EUR) |  |  |
| Operating and management fees (*) | 2,768.64 | 0.11 |
| Performance fees | 22.19 | - |
| Other charges | - | - |
| Mandat class (Currency: EUR) |  |  |
| Operating and management fees (*) | 1,130.28 | 0.11 |
| Performance fees | 78.05 | - |
| Other charges | - | - |
| I class (Currency: EUR) |  |  |
| Operating and management fees (*) | 1,688,470.87 | 0.09 |
| Performance fees | 87,294.93 | - |
| Other charges | - | - |
| Privilege class (Currency: EUR) |  |  |
| Operating and management fees (*) | 18,607.22 | 0.11 |
| Performance fees | 1,590.34 | - |
| Other charges | - | - |
| I USD H class (Currency: USD) |  |  |
| Operating and management fees (*) | 132,656.11 | 0.08 |
| Performance fees | 150.72 | - |
| Other charges | - | - |
| I GBP H class (Currency: GBP) |  |  |
| Operating and management fees (*) | 10.53 | 0.09 |
| Performance fees | 1.30 | - |
| Other charges | - | - |

Additional information 2
|  | Financial year |  |
| --- | --- | --- |
|  | 31 March 2022 |  |
| I Plus class (Currency: EUR) |  |  |
| Operating and management fees (*) | 541,489.28 | 0.05 |
| Performance fees | 7,948.52 | - |
| Other charges | - | - |
| Classic C class (Currency: EUR) |  |  |
| Operating and management fees (*) | 614,541.64 | 0.11 |
| Performance fees | 15,985.38 | - |
| Other charges | - | - |
| Retrocessions of management fees (all units) | - |  |

(*) For UCIs with a financial year that is not 12 months, the percentage of average net assets corresponds to the average annualised rate.
Breakdown of receivables and debts by type
|  | Financial year 31/03/2022 |
| --- | --- |
| Breakdown of receivables by type | - |
| Tax credit to recover | - |
| Deposit – EUR | 1,184,340.90 |
| Deposit – other currencies | - |
| Cash collateral | - |
| Valuation of purchases of currency futures | 448,321,938.43 |
| Exchange value of forward sales | - |
| Other miscellaneous debtors | 5,032,713.45 |
| Coupons receivable | - |
| TOTAL RECEIVABLES | 454,538,992.78 |
| Breakdown of debts by type | - |
| Deposit – EUR | - |
| Deposit – other currencies | - |
| Cash collateral | 9,980,000.00 |
| Provisions for loan charges | - |
| Valuation of sales of currency futures | - |
| Exchange value of forward purchases | 442,428,445.67 |
| Costs and expenses not yet paid | 428,851.93 |
| Other miscellaneous payables | 24,797,677.74 |
| Provisions for market liquidity risk | - |
| TOTAL DEBTS | 477,634,975.34 |

Breakdown of instruments by legal or economic type
|  | Financial year 31/03/2022 |
| --- | --- |
| Assets Bonds and equivalent securities | 1,533,150,149.41 |
| Index-linked bonds | - |
| Convertible bonds | 22,108,725.00 |
| Equity securities | - |
| Other bonds and equivalent securities | 1,511,041,424.41 |
| Debt securities | 2,529,908,799.21 |
| Traded on a regulated or equivalent market | 2,529,908,799.21 |
| Treasury bills | - |
| Other negotiable debt securities | 163,081,925.65 |
| Other debt securities | 2,366,826,873.56 |
| Not traded on a regulated or equivalent market | - |
| Other assets: Loans | - |
| Liabilities Disposals of financial instruments | - |
| Equities | - |
| Bonds | - |
| Other | - |
| Off-balance sheet Hedging transactions Interest rates | 5,297,610,275.00 |
| Equities | - |
| Other | - |
| Other transactions Interest rates | - |
| Equities | - |
| Other | - |

Breakdown of assets, liabilities and off-balance sheet items by interest rate type
|  | Fixed rate | Variable rate | Adjustable rate | Other |
| --- | --- | --- | --- | --- |
| Assets |  |  |  |  |
| Deposits | - | - | - | - |
| Bonds and equivalent securities | 1,519,988,046.45 | - | 13,162,102.96 | - |
| Debt securities | 2,355,096,575.59 | - | 174,812,223.62 | - |
| Temporary securities transactions | - | - | - | - |
| Other assets: Loans | - | - | - | - |
| Financial accounts | - | - | - | 189,721,533.26 |
| Liabilities |  |  |  |  |
| Temporary securities transactions | - | - | - | - |
| Financial accounts | - | - | - | - |
| Off-balance sheet |  |  |  |  |
| Hedging transactions | 5,297,610,275.00 | - | - | - |
| Other transactions | - | - | - | - |

Breakdown of assets, liabilities and off-balance sheet items by residual maturity
|  | [0–3 months] | ]3 months–1 year] | ]1–3 years] | ]3–5 years] | > 5 years |
| --- | --- | --- | --- | --- | --- |
| Assets |  |  |  |  |  |
| Deposits | - | - | - | - | - |
| Bonds and equivalent securities | 113,815,667.82 | 167,902,779.53 | 1,251,431,702.06 | - | - |
| Debt securities | 191,518,782.24 | 604,298,582.35 | 1,734,091,434.62 | - | - |
| Temporary securities transactions | - | - | - | - | - |
| Other assets: Loans | - | - | - | - | - |
| Financial accounts | 189,721,533.26 | - | - | - | - |
| Liabilities |  |  |  |  |  |
| Temporary securities transactions | - | - | - | - | - |
| Financial accounts | - | - | - | - | - |
| Off-balance sheet |  |  |  |  |  |
| Hedging transactions | 350,000,000.00 | 4,550,000,000.00 | 397,610,275.00 | - | - |
| Other transactions | - | - | - | - | - |

Breakdown of assets, liabilities and off-balance sheet items by listing currency
|  | USD | GBP |
| --- | --- | --- |
| Assets |  |  |
| Deposits | - | - |
| Equities and equivalent securities | - | - |
| Bonds and equivalent securities | - | - |
| Debt securities | - | - |
| UCI securities | - | - |
| Temporary securities transactions | - | - |
| Other assets: Loans | - | - |
| Other financial instruments | - | - |
| Receivables | 448,310,150.94 | 11,788.61 |
| Financial accounts | 36,577.20 | - |
| Liabilities |  |  |
| Disposals of financial instruments | - | - |
| Temporary securities transactions | - | - |
| Debts | 61.15 | - |
| Financial accounts | - | - |
| Off-balance sheet |  |  |
| Hedging transactions | - | - |
| Other transactions | - | - |

Only the five currencies that are most representative of the net asset component are included in this table.
Allocation of income
X class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 855,469.56 | 1,018,874.32 |
| Total | 855,469.56 | 1,018,874.32 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 855,469.56 | 1,018,874.32 |
| Total | 855,469.56 | 1,018,874.32 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | -431,073.47 | -1,165,135.75 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | -431,073.47 | -1,165,135.75 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | -431,073.47 | -1,165,135.75 |
| Total | -431,073.47 | -1,165,135.75 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Classic D class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | 250.09 | 26.81 |
| Profit/loss | 73,789.82 | 121,025.60 |
| Total | 74,039.91 | 121,052.41 |
| Allocation |  |  |
| Distribution | 73,907.42 | 120,763.83 |
| Balance carried forward for the financial year | 132.49 | 288.58 |
| Accumulation | - | - |
| Total | 74,039.91 | 121,052.41 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | 39,949.956 | 46,093.066 |
| Distribution per unit | 1.85 | 2.62 |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | -40,048.22 | -145,941.39 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | -40,048.22 | -145,941.39 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | -40,048.22 | -145,941.39 |
| Total | -40,048.22 | -145,941.39 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

R class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 27,010.31 | 28,913.38 |
| Total | 27,010.31 | 28,913.38 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 27,010.31 | 28,913.38 |
| Total | 27,010.31 | 28,913.38 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | -14,681.46 | -38,138.55 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | -14,681.46 | -38,138.55 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | -14,681.46 | -38,138.55 |
| Total | -14,681.46 | -38,138.55 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Mandat class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 10,164.81 | 13,529.47 |
| Total | 10,164.81 | 13,529.47 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 10,164.81 | 13,529.47 |
| Total | 10,164.81 | 13,529.47 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | -5,548.93 | -17,530.23 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | -5,548.93 | -17,530.23 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | -5,548.93 | -17,530.23 |
| Total | -5,548.93 | -17,530.23 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

I class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 19,087,054.89 | 22,376,039.69 |
| Total | 19,087,054.89 | 22,376,039.69 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 19,087,054.89 | 22,376,039.69 |
| Total | 19,087,054.89 | 22,376,039.69 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | -10,189,308.67 | -29,506,194.65 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | -10,189,308.67 | -29,506,194.65 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | -10,189,308.67 | -29,506,194.65 |
| Total | -10,189,308.67 | -29,506,194.65 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Privilege class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 143,643.99 | 206,353.03 |
| Total | 143,643.99 | 206,353.03 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 143,643.99 | 206,353.03 |
| Total | 143,643.99 | 206,353.03 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | -78,288.30 | -262,415.15 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | -78,288.30 | -262,415.15 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | -78,288.30 | -262,415.15 |
| Total | -78,288.30 | -262,415.15 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

I USD H class (Currency: USD)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 3,706,367.06 | 67.15 |
| Total | 3,706,367.06 | 67.15 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 3,706,367.06 | 67.15 |
| Total | 3,706,367.06 | 67.15 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | 24,806,678.96 | -589.79 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | 24,806,678.96 | -589.79 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | 24,806,678.96 | -589.79 |
| Total | 24,806,678.96 | -589.79 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

I GBP H class (Currency: GBP)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 114.94 | 25.92 |
| Total | 114.94 | 25.92 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 114.94 | 25.92 |
| Total | 114.94 | 25.92 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | 239.77 | 7.33 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | 239.77 | 7.33 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | 239.77 | 7.33 |
| Total | 239.77 | 7.33 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

I Plus class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 15,752,792.97 | 216,739.13 |
| Total | 15,752,792.97 | 216,739.13 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 15,752,792.97 | 216,739.13 |
| Total | 15,752,792.97 | 216,739.13 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | -8,184,076.04 | -189,156.19 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | -8,184,076.04 | -189,156.19 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | -8,184,076.04 | -189,156.19 |
| Total | -8,184,076.04 | -189,156.19 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Classic C class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 5,520,354.63 | 6,610,951.28 |
| Total | 5,520,354.63 | 6,610,951.28 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 5,520,354.63 | 6,610,951.28 |
| Total | 5,520,354.63 | 6,610,951.28 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits: |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains and losses
|  | Financial year 31/03/2022 | Financial year 31/03/2021 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains and losses | - | - |
| Net capital gains and losses for the financial year | -3,007,123.55 | -8,469,922.15 |
| Interim payments on net capital gains and losses for the financial year | - | - |
| Total | -3,007,123.55 | -8,469,922.15 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains and losses | - | - |
| Accumulation | -3,007,123.55 | -8,469,922.15 |
| Total | -3,007,123.55 | -8,469,922.15 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Table of results and other characteristic items over the previous five years

##### X class (Currency: EUR)
|  | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 1,004.7666 | 1,004.4461 | 989.8349 | 1,010.9040 | 1,002.5654 |
| Net assets (in EUR K) | 36,457.89 | 64,833.75 | 69,316.98 | 72,736.51 | 83,114.66 |
| Number of securities |  |  |  |  |  |
| C units | 36,284.936 | 64,546.772 | 70,028.829 | 71,951.946 | 82,901.982 |

| Payment date | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains and losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net |  |  |  |  |  |
| gains and losses (in EUR) |  |  |  |  |  |
| C units | -2.46 | -6.44 | -16.80 | -16.19 | -5.19 |
| Accumulation per unit on income (in |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| C units | 5.86 | 16.37 | 14.93 | 14.16 | 10.31 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93). The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### Classic D class (Currency: EUR)
|  | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| D units | 202.4993 | 201.2547 | 195.0926 | 196.2672 | 191.9142 |
| Net assets (in EUR K) | 12,525.10 | 11,313.62 | 9,811.39 | 9,046.56 | 7,666.96 |
| Number of securities |  |  |  |  |  |
| D units | 61,852.571 | 56,215.456 | 50,290.926 | 46,093.066 | 39,949.956 |

| Payment date | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains and losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | 1.03 | 3.14 | 2.82 | 2.62 | 1.85 |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains and losses (in EUR) |  |  |  |  |
| D units | -0.49 | -1.29 | -3.33 | -3.16 | -1.00 |
| Accumulation per unit on income (in |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| D units | - | - | - | - | - |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93). The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### R class (Currency: EUR)
|  | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 202.8506 | 202.6376 | 199.5426 | 203.4096 | 201.5815 |
| Net assets (in EUR K) | 3,072.89 | 3,275.08 | 2,493.18 | 2,378.10 | 2,829.77 |
| Number of securities |  |  |  |  |  |
| C units | 15,148.532 | 16,162.236 | 12,494.455 | 11,691.193 | 14,037.858 |

| Payment date | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains and losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains and losses (in EUR) |  |  |  |  |
| C units | -0.49 | -1.30 | -3.38 | -3.26 | -1.04 |
| Accumulation per unit on income (in EUR) |  |  |  |  |
| C units | 1.03 | 3.15 | 2.86 | 2.47 | 1.92 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93). The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### Mandat class (Currency: EUR)
|  | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 1,000.0939 | 999.0432 | 983.7812 | 1,003.0668 | 994.0115 |
| Net assets (in EUR K) | 4,755.41 | 3,680.95 | 1,350.57 | 1,093.25 | 1,069.49 |
| Number of securities |  |  |  |  |  |
| C units | 4,754.968 | 3,684.474 | 1,372.840 | 1,089.909 | 1,075.934 |

| Payment date | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains and losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains and losses (in EUR) |  |  |  |  |
| C units | -2.45 | -6.41 | -16.70 | -16.08 | -5.15 |
| Accumulation per unit on income (in EUR) |  |  |  |  |
| C units | 5.08 | 15.56 | 14.10 | 12.41 | 9.44 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93). The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### I class (Currency: EUR)
|  | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 99,893.4890 | 99,843.3470 | 98,340.8190 | 100,247.0550 | 99,363.2340 |
| Net assets (in EUR K) | 479,220.13 | 476,670.81 | 831,526.89 | 1,839,607.74 | 1,964,100.02 |
| Number of securities |  |  |  |  |  |
| C units | 4,797.311 | 4,774.187 | 8,455.562 | 18,350.741 | 19,766.869 |

| Payment date | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains and losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains and losses (in EUR) |  |  |  |  |
| C units | -212.41 | -640.94 | -1,669.82 | -1,607.90 | -515.47 |
| Accumulation per unit on income (in EUR) |  |  |  |  |
| C units | 581.39 | 1,609.92 | 1,432.85 | 1,219.35 | 965.60 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93).
The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### Privilege class (Currency: EUR)
|  | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 231.8889 | 231.6452 | 228.1068 | 232.6322 | 230.5356 |
| Net assets (in EUR K) | 59,434.25 | 56,009.05 | 23,578.30 | 16,366.85 | 15,089.40 |
| Number of securities |  |  |  |  |  |
| C units | 256,304.903 | 241,788.075 | 103,365.189 | 70,355.047 | 65,453.647 |

| Payment date | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains and losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains and losses (in EUR) |  |  |  |  |
| C units | -0.22 | -1.48 | -3.87 | -3.72 | -1.19 |
| Accumulation per unit on income (in EUR) |  |  |  |  |
| C units | 0.52 | 3.60 | 3.27 | 2.93 | 2.19 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93). The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J- 2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### I USD H class (Currency: USD)
|  | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- |
| Net asset value (in USD) |  |  |  |  |
| C units | 101,809.1586 | 103,074.5284 | 105,873.5581 | 105,808.3162 |
| Net assets (in EUR K) | 9.0700 | 9.4200 | 9.0209 | 448,412.2773 |
| Number of securities |  |  |  |  |
| C units | 0.100 | 0.100 | 0.100 | 4,701.390 |

| Payment date | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains and losses | - | - | - | - |
| (including interim dividends) (in USD) |  |  |  |  |
| Distribution per unit on income | - | - | - | - |
| (including interim dividends) (in USD) |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - |
| individuals (in USD) |  |  |  |  |
| Accumulation per unit on net capital gains and losses (in EUR) |  |  |  |
| C units | 3,228.10 | 1,763.20 | -5,897.90 | 5,276.45 |
| Accumulation per unit on income (in EUR) |  |  |  |
| C units | 856.10 | 1,495.10 | 671.50 | 788.35 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93).
The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### I GBP H class (Currency: GBP)
| 31 March 2021 | 31 March 2022 |
| --- | --- |
| Net asset value (in GBP) |  |  |
| C units | 99,939.5205 | 99,646.8731 |
| Net assets (in EUR K) | 11.72 | 11.78 |
| Number of securities |  |  |
| C units | 0.100 | 0.100 |
|  |
| Payment date | 31 March 2021 | 31 March 2022 |
| Distribution per unit on net capital gains and losses | - | - |
| (including interim dividends) (in GBP) |  |  |
| Distribution per unit on income | - | - |
| (including interim dividends) (in GBP) |  |  |
| Tax credits per unit (*) Natural persons (in GBP) | - | - |
| Accumulation per unit on net capital gains and losses (in EUR) C units | 73.30 | 2,397.70 |
| Accumulation per unit on income (in EUR) |  |  |
| C units | 259.20 | 1,149.40 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93). The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J- 2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### I Plus class (Currency: EUR)
| 31 March 2021 | 31 March 2022 |
| --- | --- |
| Net asset value (in EUR) |  |  |
| C units | 99,963.3825 | 99,108.3841 |
| Net assets (in EUR K) | 100,475.39 | 1,577,830.55 |
| Number of securities |  |  |
| C units | 1,005.122 | 15,920.253 |
|  |
| Payment date | 31 March 2021 | 31 March 2022 |
| Distribution per unit on net capital gains and losses | - | - |
| (including interim dividends) (in EUR) |  |  |
| Distribution per unit on income | - | - |
| (including interim dividends) (in EUR) |  |  |
| Tax credits per unit (*) individuals (in EUR) | - | - |
| Accumulation per unit on net capital gains and losses (in EUR) C units | -188.19 | -514.06 |
| Accumulation per unit on income (in EUR) |  |  |
| C units | 215.63 | 989.48 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93). The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

##### Classic C class (Currency: EUR)
|  | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 231.9006 | 231.6570 | 228.1190 | 232.6228 | 230.5273 |
| Net assets (in EUR K) | 816,371.01 | 606,300.66 | 548,110.30 | 528,275.51 | 579,598.72 |
| Number of securities |  |  |  |  |  |
| C units | 3,520,348.395 | 2,617,234.530 | 2,402,738.697 | 2,270,953.526 | 2,514,229.324 |
|  |
| Payment date | 29 March 2018 | 29 March 2019 | 31 March 2020 | 31 March 2021 | 31 March 2022 |
| Distribution per unit on net capital gains and losses (including interim dividends) (in EUR) | - | - | - | - - | - |
| Distribution per unit on income | - | - | - | -- | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) individuals (in EUR) | - | - | - | - | - |
| Accumulation per unit on net capital gains and losses (in EUR) |  |  |  |  |  |
| C units | -0.56 | -1.48 | -3.87 | -3.72 | -1.19 |
| Accumulation per unit on income (in EUR) |  |  |  |  |  |
| C units | 1.17 | 1.36 | 3.27 | 2.91 | 2.19 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93). The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2-99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."
Inventory of financial instruments as at 31 March 2022
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| Bonds and equivalent securities |  |  |  | 1,533,150,149.41 | 32.76 |
| Traded on a regulated or equivalent market |  |  |  | 1,533,150,149.41 | 32.76 |
| ABBOTT IL FIN 0.875% 18-27/09/2023 | 15,002,000.00 | 100.86 | EUR | 15,197,677.56 | 0.32 |
| ABBVIE INC 1.25% 20-01/06/2024 | 10,854,000.00 | 100.96 | EUR | 11,070,617.76 | 0.24 |
| ABBVIE INC 1.375% 16-17/05/2024 | 20,800,000.00 | 101.06 | EUR | 21,268,864.28 | 0.45 |
| ABBVIE INC 1.5% 20-15/11/2023 | 12,125,000.00 | 101.62 | EUR | 12,388,981.15 | 0.26 |
| ABERTIS 3.75% 13-20/06/2023 | 18,200,000.00 | 104.09 | EUR | 19,476,285.60 | 0.42 |
| AEROPORT PARIS 1.5% 15-24/07/2023 | 12,800,000.00 | 101.26 | EUR | 13,092,431.01 | 0.28 |
| ALSTRIA OFFICE 2.125% 16-12/04/2023 | 1,000,000.00 | 101.12 | EUR | 1,031,704.67 | 0.02 |
| AMERICA MOVIL SA 1.5% 16-10/03/2024 | 20,035,000.00 | 101.17 | EUR | 20,287,701.73 | 0.43 |
| AMERICA MOVIL SA 3.259% 13-22/07/2023 | 2,000,000.00 | 103.55 | EUR | 2,116,000.99 | 0.05 |
| AMER INTL GROUP 1.5% 16-08/06/2023 | 24,334,000.00 | 100.90 | EUR | 24,849,354.79 | 0.53 |
| AROUNDTOWN SA 0.375% 19-23/09/2022 | 36,400,000.00 | 100.14 | EUR | 36,521,888.34 | 0.78 |
| ASAHI GROUP 0.01% 21-19/04/2024 | 34,457,000.00 | 98.41 | EUR | 33,913,468.20 | 0.72 |
| AT&T INC 18-05/09/2023 FRN | 12,940,000.00 | 101.12 | EUR | 13,162,102.96 | 0.28 |
| AT&T INC 1.3% 15-05/09/2023 | 10,000,000.00 | 101.27 | EUR | 10,201,069.03 | 0.22 |
| AT&T INC 1.45% 14-01/06/2022 | 1,152,000.00 | 100.10 | EUR | 1,167,021.03 | 0.02 |
| AT&T INC 1.95% 19-15/09/2023 | 10,000,000.00 | 102.05 | EUR | 10,310,173.58 | 0.22 |
| AT&T INC 2.4% 14-15/03/2024 | 10,590,000.00 | 103.08 | EUR | 10,927,315.38 | 0.23 |
| ATOS SE 0.75% 18-07/05/2022 | 20,600,000.00 | 99.71 | EUR | 20,679,629.84 | 0.44 |
| BACARDI LTD 2.75% 13-03/07/2023 | 26,110,000.00 | 102.40 | EUR | 27,270,793.37 | 0.58 |
| BARCLAYS PLC 1.5% 18-03/09/2023 | 10,000,000.00 | 101.69 | EUR | 10,255,255.41 | 0.22 |
| BARRY CALLE SVCS 2.375% 16-24/05/2024 | 6,000,000.00 | 102.37 | EUR | 6,263,760.01 | 0.13 |
| BAYER AG 0.375% 20-06/07/2024 | 25,000,000.00 | 99.04 | EUR | 24,828,440.62 | 0.53 |
| BECTON DICKINSON 0.632% 19-04/06/2023 | 29,339,000.00 | 100.42 | EUR | 29,615,253.69 | 0.63 |
| BECTON DICKINSON 1.401% 18-24/05/2023 | 13,365,000.00 | 101.13 | EUR | 13,676,078.23 | 0.29 |
| BOOKING HOLDINGS INC 2.15% 15-25/11/2022 | 6,796,000.00 | 100.89 | EUR | 6,906,689.97 | 0.15 |
| BP CAPITAL PLC 1.876% 20-07/04/2024 | 27,000,000.00 | 102.17 | EUR | 28,083,119.02 | 0.60 |
| BPCE 4.625% 13-18/07/2023 | 6,900,000.00 | 105.07 | EUR | 7,473,409.71 | 0.16 |
| CARMILA 2.375% 15-18/09/2023 | 16,100,000.00 | 101.95 | EUR | 16,619,385.17 | 0.36 |
| CDP RETI SRL 1.875% 15-29/05/2022 | 49,660,000.00 | 100.29 | EUR | 50,584,113.01 | 1.08 |
| CKH FIN 16 1.25% 16-06/04/2023 | 14,232,000.00 | 101.06 | EUR | 14,557,353.78 | 0.31 |
| CK HUTCHISON 0.375% 19-17/10/2023 | 18,500,000.00 | 99.37 | EUR | 18,414,779.85 | 0.39 |
| CNH IND FIN 0% 20-01/04/2024 | 20,236,000.00 | 98.17 | EUR | 19,865,968.55 | 0.42 |
| CNP ASSURANCES 1.875% 16-20/10/2022 | 38,700,000.00 | 100.87 | EUR | 39,359,723.46 | 0.84 |

Inventory of financial instruments as at 31 March 2022
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| COCA-COLA EUROPEAN 1.125% 16-26/05/2024 | 9,400,000.00 | 100.83 | EUR | 9,567,777.52 | 0.20 |
| COOPERATIEVE RAB 0.75% 18-29/08/2023 | 7,400,000.00 | 101.00 | EUR | 7,506,840.91 | 0.16 |
| CRD MUTUEL ARKEA 1.25% 17-31/05/2024 | 38,800,000.00 | 101.01 | EUR | 39,594,494.37 | 0.85 |
| CTE CO TRANSP EL 0.875% 17-29/09/2024 | 9,300,000.00 | 99.90 | EUR | 9,331,996.43 | 0.20 |
| DANAHER CORP 1.7% 20-30/03/2024 | 10,300,000.00 | 102.10 | EUR | 10,517,138.17 | 0.22 |
| DELL BANK INTERN 0.625% 19-17/10/2022 | 15,000,000.00 | 100.33 | EUR | 15,091,293.52 | 0.32 |
| DELL BANK INTERN 1.25% 20-24/06/2024 | 15,300,000.00 | 101.04 | EUR | 15,649,920.22 | 0.33 |
| EASTMAN CHEMICAL 1.5% 16-26/05/2023 | 42,550,000.00 | 100.77 | EUR | 43,418,582.94 | 0.93 |
| EUROFINS SCIEN 2.125% 17-25/07/2024 | 30,932,000.00 | 101.87 | EUR | 31,959,000.41 | 0.68 |
| FERROVIAL EMISIO 0.375% 16-14/09/2022 | 18,400,000.00 | 100.23 | EUR | 18,480,329.74 | 0.39 |
| FIAT CHRYSLER AU 3.375% 20-07/07/2023 | 20,000,000.00 | 102.90 | EUR | 21,074,507.12 | 0.45 |
| FRESENIUS SE & C 0% 17-31/01/2024 | 22,500,000.00 | 98.26 | EUR | 22,108,725.00 | 0.47 |
| GRAND CITY PROP 1.7% 20-09/04/2024 | 4,500,000.00 | 100.64 | EUR | 4,603,211.20 | 0.10 |
| HAMMERSON PLC 1.75% 16-15/03/2023 | 4,000,000.00 | 100.41 | EUR | 4,019,268.49 | 0.09 |
| IBM CORP 1.125% 16-06/09/2024 | 4,750,000.00 | 101.00 | EUR | 4,827,662.10 | 0.10 |
| INTERNATIONAL FL 1.75% 16-14/03/2024 | 14,600,000.00 | 101.26 | EUR | 14,795,732.98 | 0.32 |
| ITALY BTPS 0% 20-15/01/2024 | 30,000,000.00 | 99.43 | EUR | 29,830,200.00 | 0.64 |
| ITALY BTPS 0% 21-15/04/2024 | 20,000,000.00 | 98.95 | EUR | 19,790,600.00 | 0.42 |
| ITALY BTPS 0% 21-15/08/2024 | 35,000,000.00 | 98.55 | EUR | 34,493,987.50 | 0.74 |
| ITALY BTPS 0% 21-30/01/2024 | 15,000,000.00 | 99.45 | EUR | 14,917,125.00 | 0.32 |
| ITALY BTPS 0% 22-29/11/2023 | 36,500,000.00 | 99.59 | EUR | 36,349,985.00 | 0.78 |
| ITV PLC 2% 16-01/12/2023 | 6,913,000.00 | 101.41 | EUR | 7,056,251.48 | 0.15 |
| JCDECAUX SA 1% 16-01/06/2023 | 21,700,000.00 | 100.47 | EUR | 21,983,025.94 | 0.47 |
| JCDECAUX SA 2% 20-24/10/2024 | 10,000,000.00 | 101.78 | EUR | 10,264,912.34 | 0.22 |
| KHFC 0.75% 18-30/10/2023 | 9,900,000.00 | 100.53 | EUR | 9,983,093.55 | 0.21 |
| KUTXABANK 0.5% 19-25/09/2024 | 4,500,000.00 | 98.68 | EUR | 4,451,980.25 | 0.10 |
| LOREAL SA 0.375% 22-29/03/2024 | 15,300,000.00 | 99.98 | EUR | 15,296,547.52 | 0.33 |
| MCDONALDS CORP 1% 16-15/11/2023 | 32,000,000.00 | 101.06 | EUR | 32,459,543.28 | 0.69 |
| MITSUB UFJ FIN 0.339% 19-19/07/2024 | 30,879,000.00 | 98.80 | EUR | 30,581,992.07 | 0.65 |
| MITSUB UFJ FIN 0.978% 20-09/06/2024 | 4,574,000.00 | 100.48 | EUR | 4,632,295.10 | 0.10 |
| MOLNLYCKE HLD 1.75% 15-28/02/2024 | 11,863,000.00 | 101.24 | EUR | 12,027,425.94 | 0.26 |
| MORGAN STANLEY 1.75% 16-11/03/2024 | 29,000,000.00 | 101.99 | EUR | 29,604,919.82 | 0.63 |
| MYLAN NV 2.25% 16-22/11/2024 | 2,000,000.00 | 101.52 | EUR | 2,046,379.71 | 0.04 |
| NISSAN MOTOR CO 1.94% 20-15/09/2023 | 33,870,000.00 | 101.25 | EUR | 34,646,367.63 | 0.74 |
| PERNOD RICARD SA 0% 19-24/10/2023 | 18,200,000.00 | 99.41 | EUR | 18,092,445.28 | 0.39 |
| PRINCIPALITY OF 0.037% 19-15/04/2022 | 1,201,917.09 | 100.01 | EUR | 1,202,456.74 | 0.03 |

Inventory of financial instruments as at 31 March 2022
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| PRINCIPALITY OF 0.081% 19-30/04/2022 | 4,000,000.00 | 100.04 | EUR | 4,004,438.10 | 0.09 |
| PROSEGUR SA 1% 18-08/02/2023 | 35,700,000.00 | 100.49 | EUR | 35,923,405.61 | 0.77 |
| PUBLICIS GROUPE 0.5% 16-03/11/2023 | 3,800,000.00 | 100.17 | EUR | 3,814,081.27 | 0.08 |
| SANTANDER UK GRP 1.125% 16-08/09/2023 | 44,080,000.00 | 100.95 | EUR | 44,774,139.72 | 0.96 |
| SCANIA CV AB 0% 20-23/11/2022 | 4,875,000.00 | 100.03 | EUR | 4,876,277.74 | 0.10 |
| SPANISH GOVT 0% 21-31/05/2024 | 25,000,000.00 | 99.56 | EUR | 24,889,750.00 | 0.53 |
| SPAREBANK 1 OEST 0.25% 19-30/09/2024 | 10,200,000.00 | 98.36 | EUR | 10,045,546.25 | 0.21 |
| STRYKER CORP 1.125% 18-30/11/2023 | 31,300,000.00 | 101.12 | EUR | 31,767,022.67 | 0.68 |
| THALES SA 0.75% 16-07/06/2023 | 1,800,000.00 | 100.76 | EUR | 1,824,729.55 | 0.04 |
| THERMO FISHER 0% 21-18/11/2023 | 17,000,000.00 | 99.23 | EUR | 16,868,406.40 | 0.36 |
| UNICREDIT LEASIN 0.502% 19-18/10/2022 | 6,700,000.00 | 100.13 | EUR | 6,723,902.66 | 0.14 |
| UNITED PARCEL 0.375% 17-15/11/2023 | 16,936,000.00 | 100.02 | EUR | 16,963,560.97 | 0.36 |
| UPJOHN FINANCE 0.816% 20-23/06/2022 | 35,896,000.00 | 100.16 | EUR | 36,178,009.10 | 0.77 |
| UPJOHN FINANCE 1.023% 20-23/06/2024 | 12,909,000.00 | 99.30 | EUR | 12,920,561.28 | 0.28 |
| VONOVIA BV 0.75% 18-15/01/2024 | 9,100,000.00 | 99.68 | EUR | 9,085,260.69 | 0.19 |
| WINTERSHALL FIN 0.452% 19-25/09/2023 | 39,900,000.00 | 97.00 | EUR | 38,796,630.38 | 0.83 |
| Debt securities |  |  |  | 2,529,908,799.21 | 54.06 |
| Traded on a regulated or equivalent market |  |  |  | 2,529,908,799.21 | 54.06 |
| Negotiable debt securities |  |  |  | 163,081,925.65 | 3.48 |
| ARVAL SERVICE LEASE FRANCE 0% 24/05/2022 | 24,000,000.00 | 100.08 | EUR | 24,018,235.20 | 0.51 |
| ARVAL SERVICE LEASE FRANCE 0% 24/05/2022 | 10,000,000.00 | 100.08 | EUR | 10,007,598.00 | 0.21 |
| BAYER AG 0% 15/07/2022 | 10,000,000.00 | 100.13 | EUR | 10,013,256.90 | 0.21 |
| ENBW INTERNATIONAL FINANCE BV 0% 08/04/2 | 20,000,000.00 | 100.01 | EUR | 20,002,242.00 | 0.43 |
| FRESENIUS FINANCE IRELAND PLC 0% 08/06/2 | 10,000,000.00 | 100.08 | EUR | 10,008,160.10 | 0.21 |
| LOUIS DREYFUS COMPANY BV 0% 19/04/2022 N | 30,000,000.00 | 100.02 | EUR | 30,006,933.30 | 0.64 |
| MERCIALYS 0% 11/04/2022 NEUCP | 4,000,000.00 | 100.02 | EUR | 4,000,616.60 | 0.09 |
| SSE PLC 0% 27/04/2022 | 30,000,000.00 | 100.03 | EUR | 30,009,853.80 | 0.64 |
| VATTENFALL AB 0% 12/07/2022 | 25,000,000.00 | 100.06 | EUR | 25,015,029.75 | 0.53 |
| Other debt securities |  |  |  | 2,366,826,873.56 | 50.58 |
| ABB FINANCE BV 0.625% 22-31/03/2024 | 5,351,000.00 | 99.99 | EUR | 5,350,232.13 | 0.11 |
| ABERTI 1.5% 19-27/06/2024 | 1,900,000.00 | 101.32 | EUR | 1,946,635.81 | 0.04 |
| ABN AMRO BANK NV 7.125% 12-06/07/2022 | 40,305,000.00 | 101.73 | EUR | 43,112,177.50 | 0.92 |
| AIB GROUP PLC 1.25% 19-28/05/2024 | 11,801,000.00 | 100.25 | EUR | 11,954,228.89 | 0.26 |
| AIB GROUP PLC 1.5% 18-29/03/2023 | 33,875,000.00 | 101.22 | EUR | 34,291,367.51 | 0.73 |
| ALD SA 0.375% 19-18/07/2023 | 21,300,000.00 | 99.97 | EUR | 21,349,576.54 | 0.46 |
| ALD SA 0.375% 20-19/10/2023 | 17,200,000.00 | 99.74 | EUR | 17,184,225.15 | 0.37 |

Inventory of financial instruments as at 31 March 2022
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| AMADEUS IT GROUP 0.875% 18-18/09/2023 | 20,200,000.00 | 100.57 | EUR | 20,409,033.34 | 0.44 |
| AMADEUS IT GROUP 2.5% 20-20/05/2024 | 10,000,000.00 | 102.95 | EUR | 10,510,605.42 | 0.22 |
| AMERICAN HONDA F 0.75% 17-17/01/2024 | 6,000,000.00 | 100.27 | EUR | 6,025,130.40 | 0.13 |
| ARVAL SERVICE 0% 21-30/09/2024 | 2,500,000.00 | 97.94 | EUR | 2,448,419.50 | 0.05 |
| AUCHAN SA 2.25% 13-06/04/2023 | 6,700,000.00 | 101.11 | EUR | 6,922,919.97 | 0.15 |
| BANCO BILBAO VIZ 0.375% 19-02/10/2024 | 2,100,000.00 | 98.80 | EUR | 2,078,707.50 | 0.04 |
| BANCO BILBAO VIZ 1.125% 19-28/02/2024 | 12,200,000.00 | 100.89 | EUR | 12,320,730.95 | 0.26 |
| BANCO SABADELL 20-29/06/2023 FRN | 6,700,000.00 | 100.27 | EUR | 6,806,356.01 | 0.15 |
| BANCO SABADELL 0.875% 17-05/03/2023 | 15,900,000.00 | 100.55 | EUR | 15,998,067.82 | 0.34 |
| BANCO SABADELL 1.625% 18-07/03/2024 | 9,100,000.00 | 100.95 | EUR | 9,195,898.47 | 0.20 |
| BANCO SANTANDER 22-26/01/2025 FRN | 10,000,000.00 | 98.90 | EUR | 9,891,811.42 | 0.21 |
| BANCO SAN TOTTA 0.875% 17-25/04/2024 | 1,500,000.00 | 100.51 | EUR | 1,519,930.63 | 0.03 |
| BANKIA 1% 19-25/06/2024 | 7,400,000.00 | 100.06 | EUR | 7,461,002.16 | 0.16 |
| BANK NOVA SCOTIA 0.375% 18-23/10/2023 | 15,000,000.00 | 100.11 | EUR | 15,040,427.42 | 0.32 |
| BANK OF AMER CRP 2.375% 14-19/06/2024 | 24,000,000.00 | 103.43 | EUR | 25,267,685.29 | 0.54 |
| BANK OF IRELAND 1.375% 18-29/08/2023 | 42,976,000.00 | 101.11 | EUR | 43,801,201.25 | 0.94 |
| BANQ FED CRD MUT 3% 14-21/05/2024 | 28,800,000.00 | 104.38 | EUR | 30,806,076.07 | 0.66 |
| BARCLAYS PLC 1.875% 16-08/12/2023 | 29,327,000.00 | 102.36 | EUR | 30,188,448.21 | 0.65 |
| BASF SE 0.101% 20-05/06/2023 | 5,300,000.00 | 99.92 | EUR | 5,299,893.84 | 0.11 |
| BAWAG PSK 8.125% 13-30/10/2023 | 2,000,000.00 | 110.63 | EUR | 2,280,314.63 | 0.05 |
| BNP PARIBAS 1% 17-27/06/2024 | 3,000,000.00 | 100.31 | EUR | 3,031,927.32 | 0.06 |
| BNP PARIBAS 1% 17-29/11/2024 | 2,300,000.00 | 99.48 | EUR | 2,295,779.65 | 0.05 |
| BNP PARIBAS 1.125% 18-22/11/2023 | 28,200,000.00 | 101.12 | EUR | 28,627,258.97 | 0.61 |
| BNP PARIBAS 1.125% 19-28/08/2024 | 7,200,000.00 | 100.45 | EUR | 7,280,446.41 | 0.16 |
| BPCE 0.875% 18-31/01/2024 | 37,400,000.00 | 100.30 | EUR | 37,566,706.15 | 0.80 |
| BRISA CONCESSAO 2% 16-22/03/2023 | 29,000,000.00 | 101.75 | EUR | 29,520,992.27 | 0.63 |
| BRITISH TELECOMM 0.875% 18-26/09/2023 | 6,000,000.00 | 100.76 | EUR | 6,072,375.02 | 0.13 |
| BRIT SKY BROADCA 1.875% 14-24/11/2023 | 2,277,000.00 | 102.55 | EUR | 2,349,834.11 | 0.05 |
| CAIXABANK 1.125% 17-12/01/2023 | 11,500,000.00 | 100.88 | EUR | 11,628,717.31 | 0.25 |
| CAIXABANK 1.125% 17-17/05/2024 | 2,000,000.00 | 100.41 | EUR | 2,027,728.14 | 0.04 |
| CAIXABANK 1.75% 18-24/10/2023 | 15,200,000.00 | 101.93 | EUR | 15,608,771.21 | 0.33 |
| CAIXABANK 2.375% 19-01/02/2024 | 14,900,000.00 | 102.98 | EUR | 15,399,602.55 | 0.33 |
| CAN IMPERIAL BK 0.375% 19-03/05/2024 | 4,768,000.00 | 99.34 | EUR | 4,752,951.04 | 0.10 |
| CARLSBERG BREW 2.5% 14-28/05/2024 | 13,000,000.00 | 102.71 | EUR | 13,625,319.46 | 0.29 |
| CARLSBERG BREW 2.625% 12-15/11/2022 | 2,000,000.00 | 101.62 | EUR | 2,052,050.84 | 0.04 |
| CARREFOUR SA 0.875% 18-12/06/2023 | 1,000,000.00 | 100.42 | EUR | 1,011,238.90 | 0.02 |

Inventory of financial instruments as at 31 March 2022
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| CASSA DEPOSITI E 16-26/07/2022 FRN | 10,000,000.00 | 99.99 | EUR | 10,002,902.00 | 0.21 |
| CIE DE ST GOBAIN 0.875% 18-21/09/2023 | 1,800,000.00 | 100.69 | EUR | 1,820,729.10 | 0.04 |
| CIE DE ST GOBAIN 1.75% 20-03/04/2023 | 13,000,000.00 | 101.37 | EUR | 13,404,168.24 | 0.29 |
| CITIGROUP INC 0.75% 16-26/10/2023 | 20,000,000.00 | 100.56 | EUR | 20,175,503.59 | 0.43 |
| CITIGROUP INC 2.375% 14-22/05/2024 | 18,225,000.00 | 103.22 | EUR | 19,183,909.08 | 0.41 |
| CNH IND FIN 2.875% 16-17/05/2023 | 6,000,000.00 | 102.81 | EUR | 6,318,894.27 | 0.14 |
| COMMERZBANK AG 0.5% 16-13/09/2023 | 14,160,000.00 | 99.79 | EUR | 14,169,389.89 | 0.30 |
| COMMERZBANK AG 0.5% 18-28/08/2023 | 16,000,000.00 | 100.27 | EUR | 16,090,387.29 | 0.34 |
| COMMERZBANK AG 1.25% 18-23/10/2023 | 14,700,000.00 | 100.71 | EUR | 14,884,802.60 | 0.32 |
| COMPAGNIE DE ST 2.875% 13-05/12/2023 | 15,000,000.00 | 104.02 | EUR | 15,740,513.79 | 0.34 |
| CONTI-GUMMI FIN 2.125% 20-27/11/2023 | 25,663,000.00 | 102.22 | EUR | 26,418,300.02 | 0.56 |
| COOPERATIEVE RAB 0.625% 19-27/02/2024 | 20,000,000.00 | 100.28 | EUR | 20,066,650.90 | 0.43 |
| CRD MUTUEL ARKEA 2.375% 13-11/07/2023 | 3,000,000.00 | 102.86 | EUR | 3,137,178.04 | 0.07 |
| CRH FINLAND SERV 0.875% 20-05/11/2023 | 29,834,000.00 | 100.39 | EUR | 30,054,368.84 | 0.64 |
| DAIMLER INTL FIN 0.25% 19-06/11/2023 | 15,000,000.00 | 99.67 | EUR | 14,965,182.76 | 0.32 |
| DS SMITH PLC 1.375% 17-26/07/2024 | 18,551,000.00 | 100.07 | EUR | 18,737,082.59 | 0.40 |
| DS SMITH PLC 2.25% 15-16/09/2022 | 18,586,000.00 | 100.44 | EUR | 18,892,955.08 | 0.40 |
| EANDIS 2.75% 12-30/11/2022 | 6,000,000.00 | 101.83 | EUR | 6,164,314.43 | 0.13 |
| EDP FINANCE BV 1.875% 17-29/09/2023 | 5,742,000.00 | 102.23 | EUR | 5,923,740.53 | 0.13 |
| ELEC DE FRANCE 4.625% 09-11/09/2024 | 7,050,000.00 | 109.13 | EUR | 7,873,113.44 | 0.17 |
| ENEL FIN INTL NV 4.875% 12-17/04/2023 | 5,700,000.00 | 105.16 | EUR | 6,259,104.75 | 0.13 |
| ENI SPA 0% 16-13/04/2022 CV | 22,000,000.00 | 99.92 | EUR | 21,981,960.00 | 0.47 |
| ERSTE GROUP 7.125% 12-10/10/2022 | 1,500,000.00 | 103.26 | EUR | 1,599,324.51 | 0.03 |
| EUROGRID GMBH 1.625% 15-03/11/2023 | 40,000,000.00 | 101.63 | EUR | 40,916,105.64 | 0.87 |
| EVONIK 1% 15-23/01/2023 | 16,487,000.00 | 100.55 | EUR | 16,607,386.70 | 0.35 |
| FCA BANK IE 0.125% 20-16/11/2023 | 14,735,000.00 | 99.15 | EUR | 14,617,061.48 | 0.31 |
| FCA BANK IE 0.25% 20-28/02/2023 | 10,500,000.00 | 100.18 | EUR | 10,521,361.50 | 0.22 |
| FCA BANK IE 0.5% 20-18/09/2023 | 14,666,000.00 | 99.99 | EUR | 14,703,463.34 | 0.31 |
| FCA BANK IE 0.625% 19-24/11/2022 | 5,642,000.00 | 100.40 | EUR | 5,676,566.60 | 0.12 |
| FERROVIE DEL 16-18/07/2022 | 20,000,000.00 | 100.05 | EUR | 20,016,340.00 | 0.43 |
| FIAT FIN & TRADE 4.75% 14-15/07/2022 | 12,725,000.00 | 101.33 | EUR | 13,323,040.39 | 0.28 |
| FORTUM OYJ 0.875% 19-27/02/2023 | 12,330,000.00 | 99.56 | EUR | 12,285,025.38 | 0.26 |
| FORTUM OYJ 2.25% 12-06/09/2022 | 22,956,000.00 | 100.34 | EUR | 23,325,874.65 | 0.50 |
| FRESENIUS MEDICA 0.25% 19-29/11/2023 | 15,091,000.00 | 99.35 | EUR | 15,005,057.01 | 0.32 |
| GE CAP EUR FUND 2.625% 13-15/03/2023 | 26,000,000.00 | 102.45 | EUR | 26,665,825.81 | 0.57 |
| GLAXOSMITHKLINE 0% 19-23/09/2023 | 1,500,000.00 | 99.58 | EUR | 1,493,658.45 | 0.03 |

Inventory of financial instruments as at 31 March 2022
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| GOLDMAN SACHS GP 21-30/04/2024 FRN | 25,000,000.00 | 99.36 | EUR | 24,842,894.52 | 0.53 |
| GOLDMAN SACHS GP 0.125% 19-19/08/2024 | 5,306,000.00 | 98.11 | EUR | 5,209,906.35 | 0.11 |
| GOLDMAN SACHS GP 1.375% 17-15/05/2024 | 1,600,000.00 | 100.99 | EUR | 1,635,105.75 | 0.03 |
| HEATHROW FNDG 1.875% 14-23/05/2022 | 39,515,000.00 | 100.29 | EUR | 40,262,422.16 | 0.86 |
| HEIDELCEMENT FIN 0.5% 18-09/08/2022 | 9,221,000.00 | 100.03 | EUR | 9,253,321.26 | 0.20 |
| HEIMSTADEN BOSTA 2.125% 19-05/09/2023 | 4,800,000.00 | 101.86 | EUR | 4,946,978.26 | 0.11 |
| HEIMSTADEN BOST 0.25% 21-13/10/2024 | 52,164,000.00 | 97.00 | EUR | 50,658,079.27 | 1.08 |
| HOLDING DINFRA 0.625% 17-27/03/2023 | 45,900,000.00 | 100.34 | EUR | 46,060,759.85 | 0.98 |
| INFINEON TECH 0.75% 20-24/06/2023 | 18,800,000.00 | 100.74 | EUR | 19,047,671.66 | 0.41 |
| INMOBILIARIA COL 1.45% 16-28/10/2024 | 3,900,000.00 | 100.33 | EUR | 3,936,729.84 | 0.08 |
| INTESA SANPAOLO 1% 19-04/07/2024 | 33,800,000.00 | 100.13 | EUR | 34,095,106.46 | 0.73 |
| INTESA SANPAOLO 1.375% 17-18/01/2024 | 5,000,000.00 | 101.46 | EUR | 5,086,637.14 | 0.11 |
| IREN SPA 2.75% 15-02/11/2022 | 5,000,000.00 | 101.65 | EUR | 5,138,494.64 | 0.11 |
| JYSKE BANK A/S 19-20/06/2024 FRN | 36,309,000.00 | 100.15 | EUR | 36,540,800.78 | 0.78 |
| KLEPI 1% 15-17/04/2023 | 11,600,000.00 | 100.60 | EUR | 11,780,698.38 | 0.25 |
| LB BADEN-WUERT 0.375% 19-24/05/2024 | 2,500,000.00 | 98.83 | EUR | 2,478,756.76 | 0.05 |
| LEASEPLAN CORP 0.125% 19-13/09/2023 | 17,250,000.00 | 99.18 | EUR | 17,119,531.47 | 0.37 |
| LEASEPLAN CORP 0.75% 17-03/10/2022 | 16,300,000.00 | 100.42 | EUR | 16,428,549.66 | 0.35 |
| LLOYDS BK GR PLC 18-15/01/2024 FRN | 16,819,000.00 | 100.48 | EUR | 16,920,659.86 | 0.36 |
| LLOYDS BK GR PLC 1% 16-09/11/2023 | 13,000,000.00 | 100.94 | EUR | 13,172,948.24 | 0.28 |
| LOGICOR FIN 0.75% 19-15/07/2024 | 18,300,000.00 | 98.51 | EUR | 18,124,867.50 | 0.39 |
| MERCK FIN SERVIC 0.005% 19-15/12/2023 | 11,800,000.00 | 99.51 | EUR | 11,742,341.90 | 0.25 |
| METRO AG 1.125% 18-06/03/2023 | 26,400,000.00 | 99.28 | EUR | 26,229,494.23 | 0.56 |
| MITSUB UFJ FIN 0.68% 18-26/01/2023 | 5,390,000.00 | 100.71 | EUR | 5,434,447.71 | 0.12 |
| MITSUB UFJ FIN 0.98% 18-09/10/2023 | 10,000,000.00 | 100.95 | EUR | 10,141,236.32 | 0.22 |
| MIZUHO FINANCIAL 0.118% 19-06/09/2024 | 8,300,000.00 | 98.25 | EUR | 8,159,985.41 | 0.17 |
| MIZUHO FINANCIAL 0.523% 19-10/06/2024 | 14,364,000.00 | 99.64 | EUR | 14,372,488.51 | 0.31 |
| MIZUHO FINANCIAL 1.02% 18-11/10/2023 | 14,200,000.00 | 100.87 | EUR | 14,391,166.51 | 0.31 |
| MORGAN STANLEY 19-26/07/2024 FRN | 5,000,000.00 | 100.33 | EUR | 5,038,309.05 | 0.11 |
| MOTABILITY OPS 1.625% 15-09/06/2023 | 14,000,000.00 | 101.82 | EUR | 14,438,836.46 | 0.31 |
| NATL GRID NA INC 0.75% 18-08/08/2023 | 28,550,000.00 | 100.44 | EUR | 28,814,092.27 | 0.62 |
| NATWEST MARKETS 1% 19-28/05/2024 | 6,000,000.00 | 100.22 | EUR | 6,063,657.95 | 0.13 |
| NE PROPERTY COOP 1.75% 17-23/11/2024 | 5,909,000.00 | 98.41 | EUR | 5,851,088.76 | 0.13 |
| NIBC BANK NV 2% 19-09/04/2024 | 21,400,000.00 | 101.80 | EUR | 22,203,665.22 | 0.47 |
| NYKREDIT 0.125% 19-10/07/2024 | 5,191,000.00 | 97.85 | EUR | 5,083,889.99 | 0.11 |
| NYKREDIT 0.25% 19-20/01/2023 | 12,700,000.00 | 100.19 | EUR | 12,730,619.09 | 0.27 |

Inventory of financial instruments as at 31 March 2022
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| NYKREDIT 0.875% 19-17/01/2024 | 25,670,000.00 | 99.98 | EUR | 25,710,633.04 | 0.55 |
| OMV AG 0% 20-16/06/2023 | 14,798,000.00 | 99.77 | EUR | 14,764,633.47 | 0.32 |
| OMV AG 0.75% 18-04/12/2023 | 16,740,000.00 | 100.43 | EUR | 16,852,097.89 | 0.36 |
| OMV AG 1.5% 20-09/04/2024 | 5,392,000.00 | 101.37 | EUR | 5,544,981.49 | 0.12 |
| OP CORPORATE BK 0.375% 19-19/06/2024 | 2,267,000.00 | 98.82 | EUR | 2,246,914.79 | 0.05 |
| PEUGEOT 2% 17-23/03/2024 | 12,773,000.00 | 101.87 | EUR | 13,017,270.29 | 0.28 |
| PSA BANQUE FRANC 0.625% 17-10/10/2022 | 3,600,000.00 | 100.42 | EUR | 3,625,831.10 | 0.08 |
| RAIFFEISEN BK IN 6% 13-16/10/2023 | 35,600,000.00 | 103.03 | EUR | 37,651,861.94 | 0.80 |
| RCI BANQUE 17-04/11/2024 FRN | 5,000,000.00 | 99.29 | EUR | 4,964,903.69 | 0.11 |
| RCI BANQUE 0.75% 19-10/04/2023 | 10,000,000.00 | 99.99 | EUR | 10,071,726.21 | 0.22 |
| RCI BANQUE 1% 16-17/05/2023 | 8,300,000.00 | 100.03 | EUR | 8,374,921.85 | 0.18 |
| RCI BANQUE 1.375% 17-08/03/2024 | 19,633,000.00 | 99.83 | EUR | 19,616,937.03 | 0.42 |
| REN FINANCE BV 1.75% 16-01/06/2023 | 2,500,000.00 | 101.65 | EUR | 2,577,690.74 | 0.06 |
| REP OF POLAND 0% 20-07/07/2023 | 10,000,000.00 | 99.31 | EUR | 9,930,500.00 | 0.21 |
| REPSOL INTL FIN 0.125% 20-05/10/2024 | 2,300,000.00 | 98.33 | EUR | 2,263,022.13 | 0.05 |
| ROMANIA 3.625% 14-24/04/2024 | 27,600,000.00 | 104.50 | EUR | 29,776,713.70 | 0.64 |
| ROYAL BK SCOTLND 2.5% 16-22/03/2023 | 26,000,000.00 | 102.45 | EUR | 26,652,923.40 | 0.57 |
| SCANIA CV AB 0.125% 20-13/02/2023 | 7,050,000.00 | 99.83 | EUR | 7,039,187.66 | 0.15 |
| SCANIA CV AB 0.5% 20-06/10/2023 | 4,166,000.00 | 99.76 | EUR | 4,166,203.12 | 0.09 |
| SCENTRE MGMT 2.25% 14-16/07/2024 | 11,000,000.00 | 102.36 | EUR | 11,434,490.21 | 0.24 |
| SFIL SA 0% 19-24/05/2024 | 1,000,000.00 | 99.14 | EUR | 991,375.40 | 0.02 |
| SIEMENS FINAN 0% 20-20/02/2023 | 1,000,000.00 | 100.11 | EUR | 1,001,131.80 | 0.02 |
| SOCIETE GENERALE 1.25% 19-15/02/2024 | 21,000,000.00 | 100.91 | EUR | 21,222,815.24 | 0.45 |
| SOCIETE GENERALE 4% 13-07/06/2023 | 21,200,000.00 | 103.92 | EUR | 22,721,064.92 | 0.49 |
| STANDARD CHART 17-03/10/2023 FRN | 17,500,000.00 | 100.33 | EUR | 17,622,412.19 | 0.38 |
| STANDARD CHART 3.625% 12-23/11/2022 | 28,124,000.00 | 102.12 | EUR | 29,078,009.07 | 0.62 |
| STATOIL ASA 0.875% 15-17/02/2023 | 3,337,000.00 | 100.58 | EUR | 3,359,783.87 | 0.07 |
| SUMITOMO MITSUI 0.465% 19-30/05/2024 | 9,100,000.00 | 99.31 | EUR | 9,072,892.16 | 0.19 |
| SUMITOMO MITSUI 0.819% 18-23/07/2023 | 13,230,000.00 | 100.85 | EUR | 13,417,068.59 | 0.29 |
| SUMITOMO MITSUI 0.934% 17-11/10/2024 | 18,536,000.00 | 100.17 | EUR | 18,648,747.56 | 0.40 |
| SYDBANK A/S 1.375% 18-18/09/2023 | 2,900,000.00 | 101.30 | EUR | 2,959,035.07 | 0.06 |
| TELEFONICA EMIS 1.069% 19-05/02/2024 | 2,000,000.00 | 101.14 | EUR | 2,025,970.87 | 0.04 |
| TELENOR ASA 2.75% 12-27/06/2022 | 1,188,000.00 | 100.67 | EUR | 1,220,761.08 | 0.03 |
| TELENOR 0% 19-25/09/2023 | 15,000,000.00 | 99.44 | EUR | 14,916,570.00 | 0.32 |
| TESCO CORP TREAS 1.375% 18-24/10/2023 | 35,300,000.00 | 101.07 | EUR | 35,886,094.89 | 0.77 |
| THALES SA 0.875% 18-19/04/2024 | 3,000,000.00 | 100.47 | EUR | 3,039,108.66 | 0.06 |

Inventory of financial instruments as at 31 March 2022
| TORONTO DOM BANK 0.375% 19-25/04/2024 | 6,235,000.00 | 99.29 | EUR | 6,212,647.84 | 0.13 |
| --- | --- | --- | --- | --- | --- |
| TOYOTA FIN AUSTR 0.064% 22-13/01/2025 | 8,059,000.00 | 97.64 | EUR | 7,869,533.03 | 0.17 |
| TOYOTA FIN AUSTR 0.25% 19-09/04/2024 | 13,100,000.00 | 99.08 | EUR | 13,010,767.47 | 0.28 |
| UNICREDIT SPA 2% 16-04/03/2023 | 19,100,000.00 | 101.60 | EUR | 19,433,783.04 | 0.42 |
| VEOLIA ENVRNMT 0.892% 19-14/01/2024 | 6,800,000.00 | 100.57 | EUR | 6,851,236.06 | 0.15 |
| VESTEDA FINANC 2.5% 15-27/10/2022 | 6,000,000.00 | 100.80 | EUR | 6,111,685.43 | 0.13 |
| VOLKSBANK NV 0.01% 19-16/09/2024 | 7,000,000.00 | 98.50 | EUR | 6,895,433.99 | 0.15 |
| VOLKSWAGEN BANK 1.25% 18-10/06/2024 | 18,000,000.00 | 100.43 | EUR | 18,258,328.68 | 0.39 |
| VOLKSWAGEN BANK 1.875% 19-31/01/2024 | 18,200,000.00 | 101.76 | EUR | 18,576,219.88 | 0.40 |
| VOLKSWAGEN FIN 22-17/01/2024 FRN | 5,000,000.00 | 100.41 | EUR | 5,021,889.03 | 0.11 |
| VOLKSWAGEN LEAS 1% 18-16/02/2023 | 5,000,000.00 | 100.69 | EUR | 5,040,486.41 | 0.11 |
| VOLVO TREAS AB 22-11/01/2024 FRN | 17,000,000.00 | 100.80 | EUR | 17,142,945.07 | 0.37 |
| VOLVO TREAS AB 0% 21-09/05/2024 | 19,768,000.00 | 98.39 | EUR | 19,448,879.25 | 0.42 |
| VONOVIA BV 0.125% 19-06/04/2023 | 16,700,000.00 | 99.93 | EUR | 16,708,901.97 | 0.36 |
| VONOVIA BV 0.875% 18-03/07/2023 | 5,000,000.00 | 100.51 | EUR | 5,057,899.88 | 0.11 |
| VONOVIA FINANCE BV 2.125% 14-09/07/2022 | 2,000,000.00 | 100.61 | EUR | 2,043,147.96 | 0.04 |
| VONOVIA SE 0% 21-01/09/2023 | 7,500,000.00 | 99.53 | EUR | 7,464,962.25 | 0.16 |
| WPP FINANCE 2013 3% 13-20/11/2023 | 4,304,000.00 | 103.88 | EUR | 4,517,206.92 | 0.10 |
| ZIMMER BIOMET 1.414% 16-13/12/2022 | 42,393,000.00 | 100.83 | EUR | 42,924,349.22 | 0.92 |
| UCI securities |  |  |  | 445,014,356.75 | 9.51 |

| Retail UCITS and AIFs and their equivalents from other European Union member states intended	445,014,356.75 | 9.51 |
| --- | --- |
| for non-professional investors |  |
| BNP PARIBAS MONEY 3M-IC | 19,431.998 | 22,901.11 | EUR | 445,014,356.75 | 9.51 |
| Forward financial instruments |  |  |  | 5,024,785.91 | 0.11 |
| Futures |  |  |  | 3,290,864.65 | 0.07 |
| EURO-SCHATZ FUTURE 08/06/2022 | -2,409.00 | 110.73 | EUR | 2,939,984.65 | 0.06 |
| SHORT-TERM EURO-BTP FUTURES 08/06/2022 | -278.00 | 110.97 | EUR | 350,880.00 | 0.01 |
| Margin calls |  |  |  | -3,290,864.65 | -0.07 |
| Interest rate swaps |  |  |  | 5,024,785.91 | 0.11 |
| IRS101 | 100,000,000.00 | - | EUR | 290,332.12 | 0.01 |
| IRS102 | 50,000,000.00 | - | EUR | 166,263.63 | - |
| IRS103 | 100,000,000.00 | - | EUR | 335,411.94 | 0.01 |
| IRS104 | 100,000,000.00 | - | EUR | 385,272.50 | 0.01 |
| IRS106 | 50,000,000.00 | - | EUR | 221,445.36 | - |
| IRS107 | 100,000,000.00 | - | EUR | 80,161.15 | - |
| IRS108 | 100,000,000.00 | - | EUR | 88,779.22 | - |
| IRS109 | 100,000,000.00 | - | EUR | 96,110.21 | - |

Inventory of financial instruments as at 31 March 2022
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| IRS110 | 200,000,000.00 | - | EUR | 195,074.79 | - |
| IRS111 | 50,000,000.00 | - | EUR | 53,546.97 | - |
| IRS113 | 100,000,000.00 | - | EUR | 118,780.25 | - |
| IRS114 | 100,000,000.00 | - | EUR | 118,358.56 | - |
| IRS115 | 100,000,000.00 | - | EUR | 135,589.53 | - |
| IRS116 | 200,000,000.00 | - | EUR | 13,613.94 | - |
| IRS117 | 200,000,000.00 | - | EUR | 11,032.07 | - |
| IRS118 | 300,000,000.00 | - | EUR | 91,919.98 | - |
| IRS119 | 200,000,000.00 | - | EUR | 82,617.86 | - |
| IRS125 | 200,000,000.00 | - | EUR | 75,814.48 | - |
| IRS126 | 300,000,000.00 | - | EUR | 103,766.68 | - |
| IRS127 | 300,000,000.00 | - | EUR | 88,804.45 | - |
| IRS128 | 200,000,000.00 | - | EUR | 108,786.29 | - |
| IRS129 | 200,000,000.00 | - | EUR | 169,848.32 | - |
| IRS130 | 200,000,000.00 | - | EUR | 203,953.07 | - |
| IRS131 | 350,000,000.00 | - | EUR | -1,018.77 | - |
| IRS133 | 250,000,000.00 | - | EUR | 727,199.92 | 0.02 |
| IRS134 | 400,000,000.00 | - | EUR | 438,506.41 | 0.01 |
| IRS135 | 200,000,000.00 | - | EUR | 222,228.40 | - |
| IRS136 | 100,000,000.00 | - | EUR | 136,596.22 | - |
| IRS137 | 100,000,000.00 | - | EUR | 143,950.24 | - |
| IRS138 | 50,000,000.00 | - | EUR | 122,040.12 | - |
| Receivables |  |  |  | 454,538,992.78 | 9.71 |
| Debts |  |  |  | -477,634,975.34 | -10.21 |
| Deposits |  |  |  | - | - |
| Other financial accounts |  |  |  | 189,721,533.26 | 4.05 |
| TOTAL NET ASSETS |  |  | EUR | 4,679,723,641.98 | 100.00 |

Translation (ENFR, 2022-03-31):
# BNP PARIBAS BOND 6M (ex BNP PARIBAS BOND CASH EQUIVALENT)
Fonds Commun de Placement
Société de Gestion :
BNP Paribas Asset Management France
1, boulevard Haussmann
75009 Paris

### Rapport du Commissaire aux Comptes sur les comptes annuels
Exercice clos le 31 mars 2022
Aux porteurs de parts du FCP BNP PARIBAS BOND 6M (ex BNP PARIBAS BOND CASH EQUIVALENT),
Opinion
En exécution de la mission qui nous a été confiée par la société de gestion, nous avons effectué l’audit des comptes annuels de l’organisme de placement collectif BNP PARIBAS BOND 6M (ex BNP PARIBAS BOND CASH EQUIVALENT) constitué sous forme de fonds commun de placement (FCP) relatifs à l’exercice clos le 31 mars 2022, tels qu’ils sont joints au présent rapport.
Nous certifions que les comptes annuels sont, au regard des règles et principes comptables français, réguliers et sincères et donnent une image fidèle du résultat des opérations de l’exercice écoulé ainsi que de la situation financière et du patrimoine du FCP, à la fin de cet exercice.

###### Fondement de l’opinion sur les comptes annuels Référentiel d’audit
Nous avons effectué notre audit selon les normes d’exercice professionnel applicables en
France. Nous estimons que les éléments que nous avons collectés sont suffisants et appropriés pour fonder notre opinion.
Les responsabilités qui nous incombent en vertu de ces normes sont indiquées dans la partie
« Responsabilités du commissaire aux comptes relatives à l’audit des comptes annuels » du présent rapport.
Indépendance
Nous avons réalisé notre mission d’audit dans le respect des règles d’indépendance prévues par le code de commerce et par le code de déontologie de la profession de commissaire aux comptes, sur la période du 1 avril 2021 à la date d’émission de notre rapport.
Justification des appréciations
La crise mondiale liée à la pandémie de COVID-19 crée des conditions particulières pour la préparation et l’audit des comptes de cet exercice. En effet, cette crise et les mesures exceptionnelles prises dans le cadre de l’état d’urgence sanitaire induisent de multiples conséquences pour les fonds, leurs investissements et l’évaluation des actifs et passifs correspondants. Certaines de ces mesures, telles que les restrictions de déplacement et le travail à distance, ont également eu une incidence sur la gestion opérationnelle des fonds et sur les modalités de mise en œuvre des audits.
C’est dans ce contexte complexe et évolutif que, en application des dispositions des articles
L. 823-9 et R. 823-7 du code de commerce relatives à la justification de nos appréciations, nous vous informons que les appréciations les plus importantes auxquelles nous avons procédé, selon notre jugement professionnel, ont porté sur le caractère approprié des principes comptables appliqués, notamment pour ce qui concerne les instruments financiers en portefeuille et sur la présentation d’ensemble des comptes, au regard du plan comptable des organismes de placement collectif à capital variable.
Les appréciations ainsi portées s'inscrivent dans le contexte de l’audit des comptes annuels pris dans leur ensemble et de la formation de notre opinion exprimée ci-avant. Nous n’exprimons pas d’opinion sur des éléments de ces comptes annuels pris isolément.
Vérifications spécifiques
Nous avons également procédé, conformément aux normes d’exercice professionnel applicables en France, aux vérifications spécifiques prévues par les textes légaux et réglementaires.
Nous n'avons pas d'observation à formuler sur la sincérité et la concordance avec les comptes annuels des informations données dans le rapport de gestion établi par la société de gestion.
Responsabilités de la société de gestion relatives aux comptes annuels
Il appartient à la société de gestion d’établir des comptes annuels présentant une image fidèle conformément aux règles et principes comptables français ainsi que de mettre en place le contrôle interne qu'elle estime nécessaire à l'établissement de comptes annuels ne comportant pas d'anomalies significatives, que celles-ci proviennent de fraudes ou résultent d'erreurs.
Lors de l’établissement des comptes annuels, il incombe à la société de gestion d’évaluer la capacité du FCP à poursuivre son exploitation, de présenter dans ces comptes, le cas échéant, les informations nécessaires relatives à la continuité d’exploitation et d’appliquer la
convention comptable de continuité d’exploitation, sauf s’il est prévu de liquider le FCP ou de cesser son activité.
Les comptes annuels ont été établis par la société de gestion.
Responsabilités du commissaire aux comptes relatives à l’audit des comptes annuels
Il nous appartient d’établir un rapport sur les comptes annuels. Notre objectif est d’obtenir l’assurance raisonnable que les comptes annuels pris dans leur ensemble ne comportent pas d’anomalies significatives. L’assurance raisonnable correspond à un niveau élevé d’assurance, sans toutefois garantir qu’un audit réalisé conformément aux normes d’exercice professionnel permet de systématiquement détecter toute anomalie significative. Les anomalies peuvent provenir de fraudes ou résulter d’erreurs et sont considérées comme significatives lorsque l’on peut raisonnablement s’attendre à ce qu’elles puissent, prises individuellement ou en cumulé, influencer les décisions économiques que les utilisateurs des comptes prennent en se fondant sur ceux-ci.
Comme précisé par l’article L.823-10-1 du code de commerce, notre mission de certification des comptes ne consiste pas à garantir la viabilité ou la qualité de la gestion de votre FCP.
Dans le cadre d’un audit réalisé conformément aux normes d’exercice professionnel applicables en France, le commissaire aux comptes exerce son jugement professionnel tout au long de cet audit. En outre:
- il identifie et évalue les risques que les comptes annuels comportent des anomalies significatives, que celles-ci proviennent de fraudes ou résultent d’erreurs, définit et met en œuvre des procédures d’audit face à ces risques, et recueille des éléments qu’il estime suffisants et appropriés pour fonder son opinion. Le risque de non- détection d’une anomalie significative provenant d’une fraude est plus élevé que celui d’une anomalie significative résultant d’une erreur, car la fraude peut impliquer la collusion, la falsification, les omissions volontaires, les fausses déclarations ou le contournement du contrôle interne ;
- il prend connaissance du contrôle interne pertinent pour l’audit afin de définir des procédures d’audit appropriées en la circonstance, et non dans le but d’exprimer une opinion sur l’efficacité du contrôle interne ;
- il apprécie le caractère approprié des méthodes comptables retenues et le caractère raisonnable des estimations comptables faites par la société de gestion, ainsi que les informations les concernant fournies dans les comptes annuels;
- il apprécie le caractère approprié de l’application par la société de gestion de la convention comptable de continuité d’exploitation et, selon les éléments collectés, l’existence ou non d’une incertitude significative liée à des événements ou à des circonstances susceptibles de mettre en cause la capacité du FCP à poursuivre son exploitation. Cette appréciation s’appuie sur les éléments collectés jusqu’à la date de son rapport, étant toutefois rappelé que des circonstances ou événements ultérieurs pourraient mettre en cause la continuité d’exploitation. S’il conclut à l’existence d’une incertitude significative, il attire l’attention des lecteurs de son rapport sur les informations fournies dans les comptes annuels au sujet de cette incertitude ou, si ces informations ne sont pas fournies ou ne sont pas pertinentes, il formule une certification avec réserve ou un refus de certifier;
- il apprécie la présentation d’ensemble des comptes annuels et évalue si les comptes annuels reflètent les opérations et événements sous-jacents de manière à en donner une image fidèle.

Paris La Défense, le 
05 juillet 2022
phane COLLAS
Le Commissaire aux Comptes Deloitte & Associés
Sté

## Bilan actif
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Immobilisations Nettes Dépôts Instruments financiers Actions et valeurs assimilées Négociées sur un marché réglementé ou assimilé Non négociées sur un marché réglementé ou assimilé Obligations et valeurs assimilées Négociées sur un marché réglementé ou assimilé Non négociées sur un marché réglementé ou assimilé Titres de créances Négociés sur un marché réglementé ou assimilé - Titres de créances négociables Négociés sur un marché réglementé ou assimilé - Autres titres de créances Non négociés sur un marché réglementé ou assimilé Titres d'organismes de placement collectif OPCVM et FIA à vocation générale destinés aux non professionnels et équivalents d´autres pays Etats membres de l'Union Européenne Autres Fonds destinés à des non professionnels et équivalents d´autres pays Etats membres de l´Union Européenne Fonds professionnels à vocation générale et équivalents d´autres pays Etats membres de l´Union Européenne et organismes de titrisations cotés Autres Fonds d´investissement professionnels et équivalents d´autres pays Etats membres de l´Union Européenne et organismes de titrisations non cotés Autres organismes non européens Opérations temporaires sur titres Créances représentatives de titre reçus en pension Créances représentatives de titres prêtés Titres empruntés Titres donnés en pension Autres opérations temporaires Instruments financiers à terme Opérations sur un marché réglementé ou assimilé Autres opérations Autres Actifs : Loans Autres instruments financiers Créances Opérations de change à terme de devises Autres Comptes financiers Liquidités | - | - |
| - | - |
| 4,513,099,110.05 | 2,545,423,087.92 |
| - | - |
| - | - |
| - | - |
| 1,533,150,149.41 | 717,493,035.79 |
| 1,533,150,149.41 | 717,493,035.79 |
| - | - |
| 2,529,908,799.21 | 1,587,048,775.06 |
| 163,081,925.65 | 222,936,414.79 |
| 2,366,826,873.56 | 1,364,112,360.27 |
| - | - |
| 445,014,356.75 | 240,345,623.69 |
| 445,014,356.75 | 240,345,623.69 |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| 5,025,804.68 | 535,653.38 |
| - | - |
| 5,025,804.68 | 535,653.38 |
| - | - |
| - | - |
| 454,538,992.78 | 1,499,705.40 |
| 448,321,938.43 | 21,091.77 |
| 6,217,054.35 | 1,478,613.63 |
| 189,721,533.26 | 57,941,902.61 |
| 189,721,533.26 | 57,941,902.61 |
| TOTAL DE L'ACTIF | 5,157,359,636.09 | 2,604,864,695.93 |


## Bilan passif
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Capitaux propres Capital Plus et moins-values nettes antérieures non distribuées (a) Report à nouveau (a) Plus et moins-values nettes de l'exercice (a,b) Résultat de l'exercice (a,b) Total capitaux propres (= Montant représentatif de l'actif net) Instruments financiers Opérations de cession sur instruments financiers Opérations temporaires sur titres Dettes représentatives de titres donnés en pension Dettes représentatives de titres empruntés Autres opérations temporaires Instruments financiers à terme Opérations sur un marché réglementé ou assimilé Autres opérations Dettes Opérations de change à terme de devises Autres Comptes financiers Concours bancaires courants Emprunts | - | - |
| 4,631,689,858.82 | 2,579,203,118.83 |
| - | - |
| 250.09 | 26.81 |
| 2,856,770.09 | -39,795,016.52 |
| 45,176,762.98 | 30,592,518.97 |
| 4,679,723,641.98 | 2,570,000,648.09 |
| 1,018.77 | 73,744.71 |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| 1,018.77 | 73,744.71 |
| - | - |
| 1,018.77 | 73,744.71 |
| 477,634,975.34 | 34,790,303.13 |
| 442,428,445.67 | 20,943.23 |
| 35,206,529.67 | 34,769,359.90 |
| - | - |
| - | - |
| - | - |
| TOTAL DU PASSIF | 5,157,359,636.09 | 2,604,864,695.93 |

- Y compris comptes de régularisations.
- Diminués des acomptes versés au titre de l'exercice.


## Hors-bilan
| vente EURO-SCHATZ FUTURE 08/06/2022 | 266,760,615.00 | - |
| --- | --- | --- |
| vente SHORT TERM EURO BTP FUTURES 08/06/2022 | 30,849,660.00 | - |

| achat IRS101 | - | 100,000,000.00 |
| --- | --- | --- |
| achat IRS101 | 100,000,000.00 | 100,000,000.00 |
| achat IRS102 | - | 50,000,000.00 |
| achat IRS102 | 50,000,000.00 | 50,000,000.00 |
| achat IRS103 | - | 100,000,000.00 |
| achat IRS103 | 100,000,000.00 | 100,000,000.00 |
| achat IRS104 | - | 100,000,000.00 |
| achat IRS104 | 100,000,000.00 | 100,000,000.00 |
| achat IRS106 | 50,000,000.00 | - |
| achat IRS107 | 100,000,000.00 | - |
| achat IRS108 | 100,000,000.00 | - |
| achat IRS109 | 100,000,000.00 | - |
| achat IRS110 | 200,000,000.00 | - |
| achat IRS111 | 50,000,000.00 | - |
| achat IRS113 | 100,000,000.00 | - |
| achat IRS114 | 100,000,000.00 | - |
| achat IRS115 | 100,000,000.00 | - |
| achat IRS116 | 200,000,000.00 | - |
| achat IRS117 | 200,000,000.00 | - |
| achat IRS118 | 300,000,000.00 | - |
| achat IRS119 | 200,000,000.00 | - |
| achat IRS125 | 200,000,000.00 | - |
| achat IRS126 | 300,000,000.00 | - |
| achat IRS127 | 300,000,000.00 | - |
| achat IRS128 | 200,000,000.00 | - |
| achat IRS129 | 200,000,000.00 | - |
| achat IRS130 | 200,000,000.00 | - |
| achat IRS131 | 350,000,000.00 | - |
| achat IRS133 | 250,000,000.00 | - |
| achat IRS134 | 400,000,000.00 | - |
| achat IRS135 | 200,000,000.00 | - |
| achat IRS136 | 100,000,000.00 | - |
| achat IRS137 | 100,000,000.00 | - |
| achat IRS138 | 50,000,000.00 | - |
| achat IRS64 | - | 100,000,000.00 |

Hors-bilan
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| achat IRS65 achat IRS70 achat IRS72 achat IRS73 achat IRS75 achat IRS76 achat IRS78 achat IRS79 achat IRS80 achat IRS82 achat IRS83 achat IRS84 achat IRS85 achat IRS88 achat IRS89 achat IRS91 achat IRS93 achat IRS94 achat IRS95 achat IRS96 achat IRS97 achat IRS98 Autres engagements Autres opérations Engagements sur marchés réglementés ou assimilés Futures achat EURO-SCHATZ FUTURE 08/06/2021 Engagements de gré à gré Autres engagements | - | 100,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 50,000,000.00 |
| - | 100,000,000.00 |
| - | 100,000,000.00 |
| - | 50,000,000.00 |
| - | 100,000,000.00 |
| - | 100,000,000.00 |
| - | 50,000,000.00 |
| - | 11,322,100.00 |


## Compte de résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Produits sur opérations financières | - | - |
| Produits sur actions et valeurs assimilées | 0.01 | 26.52 |
| Produits sur obligations et valeurs assimilées | 10,835,290.33 | 4,202,650.84 |
| Produits sur titres de créances | 28,134,439.50 | 21,503,457.13 |
| Produits sur acquisitions et cessions temporaires de titres | - | - |
| Produits sur instruments financiers à terme | 313,059.58 | 403,161.53 |
| Produits sur dépôts et sur comptes financiers | - | - |
| Autres produits financiers | 101,395.88 | 1,140.68 |
| TOTAL I | 39,384,185.30 | 26,110,436.70 |
| Charges sur opérations financières | - | - |
| Charges sur acquisitions et cessions temporaires de titres | - | - |
| Charges sur instruments financiers à terme | -136,476.39 | -428,256.79 |
| Charges sur dettes financières | -467,276.02 | -396,123.55 |
| Autres charges financières | - | - |
| TOTAL II | -603,752.41 | -824,380.34 |
| Résultat sur opérations financières (I + II) | 38,780,432.89 | 25,286,056.36 |
| Autres produits (III) | - | - |
| Frais de gestion et dotations aux amortissements (IV) | -3,148,895.87 | -3,607,198.93 |
| Résultat net de l'exercice (I + II + III + IV) | 35,631,537.02 | 21,678,857.43 |
| Régularisation des revenus de l'exercice (V) | 9,545,225.96 | 8,913,661.54 |
| Acomptes sur résultat versés au titre de l'exercice (VI) | - | - |
| Résultat (I + II + III + IV + V + VI) | 45,176,762.98 | 30,592,518.97 |


#### Règles et Méthodes Comptables
Les comptes annuels sont présentés sous la forme prévue par le règlement ANC n° 2014-01, modifié. Les comptes ont été établis par la société de gestion sur la base des éléments disponibles dans un contexte évolutif de crise liée au Covid-19.
La devise de comptabilité est l'Euro).
Toutes les valeurs mobilières qui composent le portefeuille ont été comptabilisées au coût historique, frais exclus.
Les titres et instruments financiers à terme ferme et conditionnel détenus en portefeuille libellés en devises sont convertis dans la devise de comptabilité sur la base des taux de change relevés à Paris au jour de l'évaluation.
Le portefeuille est évalué lors de chaque valeur liquidative et lors de l'arrêté des comptes selon les méthodes suivantes :

###### Valeurs mobilières
Les titres cotés : à la valeur boursière - coupons courus inclus (cours clôture jour)
Toutefois, les valeurs mobilières dont le cours n'a pas été constaté le jour de l'évaluation, ou cotées par des contributeurs et pour lequel le cours a été corrigé, de même que les titres qui ne sont pas négociés sur un marché réglementé, sont évalués sous la responsabilité de la société de gestion (ou du conseil d'administration pour une Sicav), à leur valeur probable de négociation. Les prix sont corrigés par la société de gestion en fonction de sa connaissance des émetteurs et/ou des marchés.
Les O.P.C. : à la dernière valeur liquidative connue, à défaut à la dernière valeur estimée. Les valeurs liquidatives des titres d’organismes de placements collectifs étrangers valorisant sur une base mensuelle, sont confirmées par les administrateurs de fonds. Les valorisations sont mises à jour de façon hebdomadaire sur la base d’estimations communiquées par les administrateurs de ces OPC et validées par le gérant.
Les titres de créances et assimilés négociables qui ne font pas l'objet de transactions significatives sont évalués par l'application d'une méthode actuarielle, le taux retenu étant celui applicable à des émissions de titres équivalents affecté, le cas échéant, d'un écart représentatif des caractéristiques intrinsèques de l'émetteur. En l'absence de sensibilité, les titres d'une durée résiduelle égale à trois mois sont valorisés au dernier taux jusqu'à l'échéance et ceux acquis à moins de trois mois, les intérêts sont linéarisés.
Les EMTN font l'objet d'une évaluation à leur valeur de marché, en fonction des cours communiqués par les contreparties. Ces valorisations font l'objet de contrôles par la société de gestion.
Les acquisitions et cessions temporaires de titres :
- Les prêts de titres : la créance représentative des titres prêtés est évaluée à la valeur du marché des titres.
- Les emprunts de titres : les titres empruntés ainsi que la dette représentative des titres empruntés sont évalués à la valeur du marché des titres.
- Les collatéraux : s'agissant des titres reçus en garantie dans le cadre des opérations de prêts de titres, l'OPC a opté pour une présentation de ces titres dans les comptes du bilan à hauteur de la dette correspondant à l'obligation de restitution de ceux-ci.
- Les pensions livrées d'une durée résiduelle inférieure ou égale à trois mois : individualisation de la créance sur la base du prix du contrat.

Dans ce cas, une linéarisation de la rémunération est effectuée.
- Les pensions long terme : Elles sont enregistrées et évaluées à leur nominal, même si elles ont une échéance supérieure à trois mois. Ce montant est majoré des intérêts courus qui s’y rattachent. Toutefois, certains contrats prévoient des conditions particulières en cas de demande de remboursement anticipé afin de prendre en compte l’impact de hausse de la courbe de financement de la contrepartie. Les intérêts courus peuvent alors être diminués de cet impact, sans valeur planchée. L’impact est proportionnel à la durée résiduelle de la pension et l’écart constaté entre la marge contractuelle et la marge de marché pour une date de maturité identique.
- Les mises en pensions d'une durée résiduelle inférieure ou égale à trois mois : valeur boursière. La dette valorisée sur la base de la valeur contractuelle est inscrite au passif du bilan. Dans ce cas, une linéarisation de la rémunération est effectuée.


###### Instruments financiers à terme et conditionnels
Futures : cours de compensation jour.
L'évaluation hors bilan est calculée sur la base du nominal, de son cours de compensation et, éventuellement, du cours de change.
Options : cours de clôture jour ou, à défaut, le dernier cours connu.
Options OTC : ces options font l'objet d'une évaluation à leur valeur de marché, en fonction des cours communiqués par les contreparties. Ces valorisations font l'objet de contrôles par la société de gestion.
L'évaluation hors bilan est calculée en équivalent sous-jacent en fonction du delta et du cours du sous-jacent et, éventuellement, du cours de change.
Change à terme : réévaluation des devises en engagement au cours du jour en prenant en compte le report / déport calculé en fonction de l'échéance du contrat.
Dépôts à terme : ils sont enregistrés et évalués pour leur montant nominal, même s’ils ont une échéance supérieure à trois mois. Ce montant est majoré des intérêts courus qui s’y rattachent. Toutefois, certains contrats prévoient des conditions particulières en cas de demande de remboursement anticipé afin de prendre en compte l’impact de hausse de la courbe de financement de la contrepartie. Les intérêts courus peuvent alors être diminués de cet impact, sans pouvoir être négatifs. Les dépôts à terme sont alors au minimum évalués à leur valeur nominale.
Swaps de taux :
- pour les swaps d'échéance inférieure à trois mois, les intérêts sont linéarisés
- les swaps d'échéance supérieure à trois mois sont revalorisés à la valeur du marchéLes produits synthétiques (association d’un titre et d’un swap) sont comptabilisés globalement. Les intérêts des swaps à recevoir dans le cadre de ces produits sont valorisés linéairement.

Les assets swaps et les produits synthétiques sont valorisés sur la base de sa valeur de marché. L’évaluation des assets swaps est basée sur l’évaluation des titres couverts à laquelle est retranchée l’incidence de la variation des spreads de crédit. Cette incidence est évaluée à partir de la moyenne des spreads communiqués par 4 contreparties interrogées mensuellement, corrigée d’une marge, en fonction de la notation de l’émetteur.
L'engagement hors bilan des swaps correspond au nominal.
Swaps structurés (swaps à composante optionnelle) : ces swaps font l'objet d'une évaluation à leur valeur de marché, en fonction des cours communiqués par les contreparties. Ces valorisations font l'objet de contrôles par la société de gestion.
L'engagement hors bilan de ces swaps correspond à la valeur nominale.
L’évaluation des swaps d’indice, calculée par l’équipe « OTC pricing & Services », est utilisée pour le calcul de la valeur liquidative après contrôle de cohérence avec la valorisation de la contrepartie si elle est reçue dans les délais. En cas de non disponibilité ou d’incohérence, OTC pricing et Services se rapproche de la contrepartie pour identifier et résoudre les problèmes.
L’engagement hors bilan de ces swaps correspond à la valeur nominale.
Le cours d’évaluation des Crédit Défault Swaps (CDS) émane d’un contributeur qui nous est fourni par la société de gestion. L’engagement hors bilan des CDS correspond à la valeur nominale.

###### Frais de gestion financière et frais administratifs externes à la société de gestion
- 0,50 % TTC maximum pour la part Classic
- 0,25 % TTC maximum pour la part R
- 0,25 % TTC maximum pour la part I Plus
- 0,70 % TTC maximum pour la part Mandat
- 0,80 % TTC maximum pour la part X
- 0,30 % TTC maximum pour la part I
- 0,30 % TTC maximum pour la part I USD H
- 0,30 % TTC maximum pour la part I GBP H
- 0,25 % TTC maximum pour la part PrivilègeLa dotation est calculée sur la base de l’actif net, déduction faite des actions et parts d’O.P.C. en portefeuille. Ces frais, n’incluant pas les frais de transaction, seront directement imputés au compte de résultat du Fonds.

Ces frais recouvrent tous les frais facturés à l’OPC, à l’exception des frais de transaction. Les frais de transactions incluent les frais d’intermédiaires (courtage, impôts de bourse…) et la commission de mouvement, le cas échéant, qui peut être perçue notamment par le dépositaire et la société de gestion.

###### Frais de recherche
Néant

###### Commission de surperformance
Catégories de part « Classic », « R », Mandat », « I » « Privilege » et « I Plus » :
20% TTC de la performance au-delà d’une performance supérieure ou égale à l’indicateur de référence composite 80% €STR capitalisé + 20% Bloomberg Barclays Euro Aggregate 1-3 ans sur la période de référence
Catégories de part « I USD H » :
20% TTC de la performance au-delà d’une performance supérieure ou égale à celle de l’indicateur de référence composite 80% Effective Federal Funds Rate + 20% Bloomberg Barclays Euro Aggregate 1-3 ans hedged en dollar US sur la période de référence
Catégories de part « I GBP H » :
20% TTC de la performance au-delà d’une performance supérieure ou égale à celle de l’indicateur de référence composite 80% SONIA + 20% Bloomberg Barclays Euro Aggregate 1-3 ans hedged en livre sterling sur la période de référence

##### METHODE DE CALCUL DE LA COMMISSION DE SURPERFORMANCE :
A chaque établissement de la valeur liquidative, la surperformance du FCP est définie comme la différence positive entre l’actif net du FCP avant prise en compte d’une éventuelle provision pour commission de surperformance et l’actif net d’un OPCVM fictif réalisant la performance de l’indicateur de référence et enregistrant le même schéma de souscriptions et de rachats (en quantité) que le FCP réel avec application du High Water Mark.
Mécanisme de High Water Mark : la commission de surperformance sera facturée au FCP si et seulement si la valeur liquidative constatée le dernier jour de bourse de la période est supérieure à la plus haute des valeurs liquidatives constatées le dernier jour de bourse de chaque période précédente.
La première période de référence pour mesurer la performance des parts « Classic », « R », « Mandat » et « I » sera comprise entre le 1er janvier 2018 et le 31 mars 2019. Les périodes de référence suivantes seront comprises entre le 1er avril et le 31 mars de chaque année.
La première période de référence pour mesurer la performance des parts « Privilege » sera comprise entre le 29 janvier 2018 et le 31 mars 2019.
La première période de référence pour mesurer la performance des parts « I USD H » sera comprise entre le 4 septembre 2018 et le 31 mars 2020.
La première période de référence pour mesurer la performance des parts « I Plus » et « I GBP H » sera comprise entre le 1er avril 2021 et le 31 mars 2022.
- Si, sur la période, la performance du FCP est inférieure ou égale au taux de référence défini précédemment, la part variable des frais de gestion sera nulle.
- Si, sur la période, la performance du FCP commun de placement est supérieure au taux de référence et que le mécanisme de High Water Mark s’applique, la part variable des frais de gestion représentera 20% TTC de la différence positive entre la performance du fonds commun de placement et ce taux de référence.

En cas de rachat, la part de la provision pour commission de performance correspondant aux parts rachetées est définitivement acquise au gestionnaire financier, et vient en dotation à la provision pour commission de performance définitive. La part de la provision pour commission de performance correspondant aux parts restant dans le FCP est appelée provision pour commission de performance disponible (car pouvant être remise en cause).

###### Rétrocession de frais de gestion
Néant.

###### Méthode de comptabilisation des intérêts
Intérêts encaissés

###### Affectation des résultats réalisés
Capitalisation pour la part Classic C Capitalisation pour la part R Capitalisation pour la part Mandat Capitalisation pour la part X Capitalisation pour la part I Capitalisation pour la part I USD H Capitalisation pour la part Privilège Capitalisation pour la part I Plus Capitalisation pour la part I GBP H Distribution pour la part Classic D

###### Affectation des plus-values nettes réalisées
Capitalisation pour la part Classic C Capitalisation pour la part R Capitalisation pour la part Mandat Capitalisation pour la part X Capitalisation pour la part I Capitalisation pour la part I USD H Capitalisation pour la part Privilège Capitalisation pour la part I Plus Capitalisation pour la part I GBP H Capitalisation pour la part Classic D

###### Changements affectant le fonds
Néant

## Evolution de l'actif net
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Actif net en début d'exercice | 2,570,000,648.09 | 1,486,197,027.85 |
| Souscriptions (y compris les commissions de souscription acquises à l'O.P.C.) | 4,903,010,620.30 | 2,390,212,234.04 |
| Rachats (sous déduction des commissions de rachat acquises à l'O.P.C.) | -2,771,367,734.31 | -1,334,095,388.09 |
| Plus-values réalisées sur dépôts et instruments financiers | 2,640,408.60 | 2,025,027.20 |
| Moins-values réalisées sur dépôts et instruments financiers | -20,611,512.29 | -29,260,262.17 |
| Plus-values réalisées sur instruments financiers à terme | 1,457,045.67 | 44,955.00 |
| Moins-values réalisées sur instruments financiers à terme | -1,604,605.00 | -24,225.00 |
| Frais de transaction | -17,705.53 | -1,313.50 |
| Différences de change | 20,613,235.25 | -468.05 |
| Variation de la différence d'estimation des dépôts et instruments financiers : | -67,767,570.06 | 32,573,498.88 |
| Différence d'estimation exercice N | -76,533,371.35 | -8,765,801.29 |
| Différence d'estimation exercice N-1 | 8,765,801.29 | 41,339,300.17 |
| Variation de la différence d'estimation des instruments financiers à terme : | 7,853,741.89 | 789,155.63 |
| Différence d'estimation exercice N | 8,315,650.56 | 461,908.67 |
| Différence d'estimation exercice N-1 | -461,908.67 | 327,246.96 |
| Distribution de l'exercice antérieur sur plus et moins-values nettes | - | - |
| Distribution de l'exercice antérieur sur résultat | -114,467.65 | -138,451.13 |
| Résultat net de l'exercice avant compte de régularisation | 35,631,537.02 | 21,678,857.43 |
| Acompte(s) versé(s) au cours de l'exercice sur plus et moins-values nettes | - | - |
| Acompte(s) versé(s) au cours de l'exercice sur résultat | - | - |
| Autres éléments | - | - |
| Actif net en fin d'exercice | 4,679,723,641.98 | 2,570,000,648.09 |


## Complément d'information 1
|  | Exercice 31/03/2022 |
| --- | --- |
| Engagements reçus ou donnés |  |
| Engagements reçus ou donnés (garantie de capital ou autres engagements) (*) | - |
| Valeur actuelle des instruments financiers inscrits en portefeuille constitutifs de dépôts de garantie |  |
| Instruments financiers reçus en garantie et non inscrits au bilan | - |
| Instruments financiers donnés en garantie et maintenus dans leur poste d'origine | - |
| Instruments financiers en portefeuille émis par le prestataire ou les entités de son groupe |  |
| Dépôts | - |
| Actions | - |
| Titres de taux | 77,709,665.05 |
| OPC | 445,014,356.75 |
| Acquisitions et cessions temporaires sur titres | - |
| Swaps (en nominal) | 50,000,000.00 |
| Valeur actuelle des instruments financiers faisant l'objet d'une acquisition temporaire |  |
| Titres acquis à réméré | - |
| Titres pris en pension | - |
| Titres empruntés | - |

(*) Pour les OPC garantis, l'information figure dans les règles et méthodes comptables.

## Complément d'information 2
| Emissions et rachats pendant l'exercice comptable | Exercice 31/03/2022 |
| --- | --- |
| Nombre de titres |
| Catégorie de classe X (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe Classic D (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe R (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe Mandat (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe I (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe Privilege (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe I USD H (Devise: USD) Nombre de titres émis Nombre de titres rachetés Catégorie de classe I GBP H (Devise: GBP) Nombre de titres émis Nombre de titres rachetés Catégorie de classe I Plus (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe Classic C (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Commissions de souscription et/ou de rachat | 31,930.041 |
| 20,980.005 |
| 189.647 |
| 6,332.757 |
| 6,262.554 |
| 3,915.889 |
| 1,307.190 |
| 1,321.165 |
| 19,934.812 |
| 18,518.684 |
| 70,469.513 |
| 75,370.913 |
| 4,701.679 |
| 0.389 |
| - |
| - |
| 20,310.297 |
| 5,395.166 |
| 1,698,244.958 |
| 1,454,969.160 |
| Montant (EUR) |
| Commissions de souscription acquises à l'OPC | - |
| Commissions de rachat acquises à l'OPC | - |
| Commissions de souscription perçues et rétrocédées | 3,230,399.11 |
| Commissions de rachat perçues et rétrocédées | - |

Complément d'information 2
| Frais de gestion | Exercice 31/03/2022 | % de l'actif net moyen |
| --- | --- | --- |
| Montant (EUR) |
| Catégorie de classe X (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 27,215.78 | 0.04 |
| Commissions de surperformance | - | - |
| Autres frais | - | - |
| Catégorie de classe Classic D (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 9,143.14 | 0.11 |
| Commissions de surperformance | 94.99 | - |
| Autres frais | - | - |
| Catégorie de classe R (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 2,768.64 | 0.11 |
| Commissions de surperformance | 22.19 | - |
| Autres frais | - | - |
| Catégorie de classe Mandat (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 1,130.28 | 0.11 |
| Commissions de surperformance | 78.05 | - |
| Autres frais | - | - |
| Catégorie de classe I (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 1,688,470.87 | 0.09 |
| Commissions de surperformance | 87,294.93 | - |
| Autres frais | - | - |
| Catégorie de classe Privilege (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 18,607.22 | 0.11 |
| Commissions de surperformance | 1,590.34 | - |
| Autres frais | - | - |
| Catégorie de classe I USD H (Devise: USD) |  |  |
| Frais de gestion et de fonctionnement (*) | 132,656.11 | 0.08 |
| Commissions de surperformance | 150.72 | - |
| Autres frais | - | - |
| Catégorie de classe I GBP H (Devise: GBP) |  |  |
| Frais de gestion et de fonctionnement (*) | 10.53 | 0.09 |
| Commissions de surperformance | 1.30 | - |
| Autres frais | - | - |

Complément d'information 2
|  | Exercice |  |
| --- | --- | --- |
|  | 31/03/2022 |  |
| Catégorie de classe I Plus (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 541,489.28 | 0.05 |
| Commissions de surperformance | 7,948.52 | - |
| Autres frais | - | - |
| Catégorie de classe Classic C (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 614,541.64 | 0.11 |
| Commissions de surperformance | 15,985.38 | - |
| Autres frais | - | - |
| Rétrocessions de frais de gestion (toutes parts confondues) | - |  |

(*) Pour les OPC dont la durée d'exercice n'est pas égale à 12 mois, le pourcentage de l'actif net moyen correspond au taux moyen annualisé.

## Ventilation par nature des créances et dettes
|  | Exercice 31/03/2022 |
| --- | --- |
| Ventilation par nature des créances | - |
| Avoir fiscal à récupérer | - |
| Déposit euros | 1,184,340.90 |
| Déposit autres devises | - |
| Collatéraux espèces | - |
| Valorisation des achats de devises à terme | 448,321,938.43 |
| Contrevaleur des ventes à terme | - |
| Autres débiteurs divers | 5,032,713.45 |
| Coupons à recevoir | - |
| TOTAL DES CREANCES | 454,538,992.78 |
| Ventilation par nature des dettes | - |
| Déposit euros | - |
| Déposit autres devises | - |
| Collatéraux espèces | 9,980,000.00 |
| Provision charges d'emprunts | - |
| Valorisation des ventes de devises à terme | - |
| Contrevaleur des achats à terme | 442,428,445.67 |
| Frais et charges non encore payés | 428,851.93 |
| Autres créditeurs divers | 24,797,677.74 |
| Provision pour risque des liquidités de marché | - |
| TOTAL DES DETTES | 477,634,975.34 |


## Ventilation par nature juridique ou économique d'instrument
|  | Exercice 31/03/2022 |
| --- | --- |
| Actif Obligations et valeurs assimilées Obligations indexées Obligations convertibles Titres participatifs Autres Obligations et valeurs assimilées Titres de créances Négociés sur un marché réglementé ou assimilé Bons du Trésor Autres TCN Autres Titres de créances Non négociés sur un marché réglementé ou assimilé Autres actifs : Loans Passif Opérations de cession sur instruments financiers Actions Obligations Autres Hors-bilan Opérations de couverture Taux Actions Autres Autres opérations Taux Actions Autres | 1,533,150,149.41 - 22,108,725.00 - 1,511,041,424.41 2,529,908,799.21 2,529,908,799.21 - 163,081,925.65 2,366,826,873.56 - - - - - - 5,297,610,275.00 - - - - - |


## Ventilation par nature de taux des postes d'actif, de passif et de hors- bilan
|  | Taux fixe | Taux variable | Taux révisable | Autres |
| --- | --- | --- | --- | --- |
| Actif |  |  |  |  |
| Dépôts | - | - | - | - |
| Obligations et valeurs assimilées | 1,519,988,046.45 | - | 13,162,102.96 | - |
| Titres de créances | 2,355,096,575.59 | - | 174,812,223.62 | - |
| Opérations temporaires sur titres | - | - | - | - |
| Autres actifs: Loans | - | - | - | - |
| Comptes financiers | - | - | - | 189,721,533.26 |
| Passif |  |  |  |  |
| Opérations temporaires sur titres | - | - | - | - |
| Comptes financiers | - | - | - | - |
| Hors-bilan |  |  |  |  |
| Opérations de couverture | 5,297,610,275.00 | - | - | - |
| Autres opérations | - | - | - | - |


## Ventilation par maturité résiduelle des postes d'actif, de passif et de hors-bilan
|  | [0 - 3 mois] | ]3 mois - 1 an] | ]1 - 3 ans] | ]3 - 5 ans] | > 5 ans |
| --- | --- | --- | --- | --- | --- |
| Actif |  |  |  |  |  |
| Dépôts | - | - | - | - | - |
| Obligations et valeurs assimilées | 113,815,667.82 | 167,902,779.53 | 1,251,431,702.06 | - | - |
| Titres de créances | 191,518,782.24 | 604,298,582.35 | 1,734,091,434.62 | - | - |
| Opérations temporaires sur titres | - | - | - | - | - |
| Autres actifs: Loans | - | - | - | - | - |
| Comptes financiers | 189,721,533.26 | - | - | - | - |
| Passif |  |  |  |  |  |
| Opérations temporaires sur titres | - | - | - | - | - |
| Comptes financiers | - | - | - | - | - |
| Hors-bilan |  |  |  |  |  |
| Opérations de couverture | 350,000,000.00 | 4,550,000,000.00 | 397,610,275.00 | - | - |
| Autres opérations | - | - | - | - | - |


## Ventilation par devise de cotation des postes d'actif, de passif et de hors-bilan
|  | USD | GBP |
| --- | --- | --- |
| Actif |  |  |
| Dépôts | - | - |
| Actions et valeurs assimilées | - | - |
| Obligations et valeurs assimilées | - | - |
| Titres de créances | - | - |
| Titres d'OPC | - | - |
| Opérations temporaires sur titres | - | - |
| Autres actifs: Loans | - | - |
| Autres instruments financiers | - | - |
| Créances | 448,310,150.94 | 11,788.61 |
| Comptes financiers | 36,577.20 | - |
| Passif |  |  |
| Opérations de cession sur instruments financiers | - | - |
| Opérations temporaires sur titres | - | - |
| Dettes | 61.15 | - |
| Comptes financiers | - | - |
| Hors-bilan |  |  |
| Opérations de couverture | - | - |
| Autres opérations | - | - |

Seules les cinq devises dont le montant le plus représentatif composant l'actif net sont incluses dans ce tableau.

## Affectation des résultats
Catégorie de classe X (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 855,469.56 | 1,018,874.32 |
| Total | 855,469.56 | 1,018,874.32 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 855,469.56 | 1,018,874.32 |
| Total | 855,469.56 | 1,018,874.32 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -431,073.47 | -1,165,135.75 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | -431,073.47 | -1,165,135.75 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -431,073.47 | -1,165,135.75 |
| Total | -431,073.47 | -1,165,135.75 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe Classic D (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | 250.09 | 26.81 |
| Résultat | 73,789.82 | 121,025.60 |
| Total | 74,039.91 | 121,052.41 |
| Affectation |  |  |
| Distribution | 73,907.42 | 120,763.83 |
| Report à nouveau de l'exercice | 132.49 | 288.58 |
| Capitalisation | - | - |
| Total | 74,039.91 | 121,052.41 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | 39,949.956 | 46,093.066 |
| Distribution unitaire | 1.85 | 2.62 |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -40,048.22 | -145,941.39 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | -40,048.22 | -145,941.39 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -40,048.22 | -145,941.39 |
| Total | -40,048.22 | -145,941.39 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe R (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 27,010.31 | 28,913.38 |
| Total | 27,010.31 | 28,913.38 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 27,010.31 | 28,913.38 |
| Total | 27,010.31 | 28,913.38 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -14,681.46 | -38,138.55 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | -14,681.46 | -38,138.55 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -14,681.46 | -38,138.55 |
| Total | -14,681.46 | -38,138.55 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe Mandat (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 10,164.81 | 13,529.47 |
| Total | 10,164.81 | 13,529.47 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 10,164.81 | 13,529.47 |
| Total | 10,164.81 | 13,529.47 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -5,548.93 | -17,530.23 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | -5,548.93 | -17,530.23 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -5,548.93 | -17,530.23 |
| Total | -5,548.93 | -17,530.23 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe I (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 19,087,054.89 | 22,376,039.69 |
| Total | 19,087,054.89 | 22,376,039.69 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 19,087,054.89 | 22,376,039.69 |
| Total | 19,087,054.89 | 22,376,039.69 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -10,189,308.67 | -29,506,194.65 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | -10,189,308.67 | -29,506,194.65 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -10,189,308.67 | -29,506,194.65 |
| Total | -10,189,308.67 | -29,506,194.65 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe Privilege (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 143,643.99 | 206,353.03 |
| Total | 143,643.99 | 206,353.03 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 143,643.99 | 206,353.03 |
| Total | 143,643.99 | 206,353.03 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -78,288.30 | -262,415.15 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | -78,288.30 | -262,415.15 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -78,288.30 | -262,415.15 |
| Total | -78,288.30 | -262,415.15 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe I USD H (Devise: USD)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 3,706,367.06 | 67.15 |
| Total | 3,706,367.06 | 67.15 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 3,706,367.06 | 67.15 |
| Total | 3,706,367.06 | 67.15 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | 24,806,678.96 | -589.79 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | 24,806,678.96 | -589.79 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | 24,806,678.96 | -589.79 |
| Total | 24,806,678.96 | -589.79 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe I GBP H (Devise: GBP)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 114.94 | 25.92 |
| Total | 114.94 | 25.92 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 114.94 | 25.92 |
| Total | 114.94 | 25.92 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | 239.77 | 7.33 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | 239.77 | 7.33 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | 239.77 | 7.33 |
| Total | 239.77 | 7.33 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe I Plus (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 15,752,792.97 | 216,739.13 |
| Total | 15,752,792.97 | 216,739.13 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 15,752,792.97 | 216,739.13 |
| Total | 15,752,792.97 | 216,739.13 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -8,184,076.04 | -189,156.19 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | -8,184,076.04 | -189,156.19 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -8,184,076.04 | -189,156.19 |
| Total | -8,184,076.04 | -189,156.19 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe Classic C (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 5,520,354.63 | 6,610,951.28 |
| Total | 5,520,354.63 | 6,610,951.28 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 5,520,354.63 | 6,610,951.28 |
| Total | 5,520,354.63 | 6,610,951.28 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux: |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2022 | Exercice 31/03/2021 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -3,007,123.55 | -8,469,922.15 |
| Acomptes versés sur plus et moins-values nettes de l'exercice | - | - |
| Total | -3,007,123.55 | -8,469,922.15 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -3,007,123.55 | -8,469,922.15 |
| Total | -3,007,123.55 | -8,469,922.15 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |


## Tableau des résultats et autres éléments caractéristiques au cours des cinq derniers exercices

###### Catégorie de classe X (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 1,004.7666 | 1,004.4461 | 989.8349 | 1,010.9040 | 1,002.5654 |
| Actif net (en k EUR) | 36,457.89 | 64,833.75 | 69,316.98 | 72,736.51 | 83,114.66 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 36,284.936 | 64,546.772 | 70,028.829 | 71,951.946 | 82,901.982 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins- values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et moins- |  |  |  |  |  |
| values nettes (en EUR) |  |  |  |  |  |
| Parts C | -2.46 | -6.44 | -16.80 | -16.19 | -5.19 |
| Capitalisation unitaire sur résultat (en |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| Parts C | 5.86 | 16.37 | 14.93 | 14.16 | 10.31 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe Classic D (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts D | 202.4993 | 201.2547 | 195.0926 | 196.2672 | 191.9142 |
| Actif net (en k EUR) | 12,525.10 | 11,313.62 | 9,811.39 | 9,046.56 | 7,666.96 |
| Nombre de titres |  |  |  |  |  |
| Parts D | 61,852.571 | 56,215.456 | 50,290.926 | 46,093.066 | 39,949.956 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins- values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | 1.03 | 3.14 | 2.82 | 2.62 | 1.85 |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et moins- |  |  |  |  |  |
| values nettes (en EUR) |  |  |  |  |  |
| Parts D | -0.49 | -1.29 | -3.33 | -3.16 | -1.00 |
| Capitalisation unitaire sur résultat (en |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| Parts D | - | - | - | - | - |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe R (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 202.8506 | 202.6376 | 199.5426 | 203.4096 | 201.5815 |
| Actif net (en k EUR) | 3,072.89 | 3,275.08 | 2,493.18 | 2,378.10 | 2,829.77 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 15,148.532 | 16,162.236 | 12,494.455 | 11,691.193 | 14,037.858 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins- values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et moins- |  |  |  |  |  |
| values nettes (en EUR) |  |  |  |  |  |
| Parts C | -0.49 | -1.30 | -3.38 | -3.26 | -1.04 |
| Capitalisation unitaire sur résultat (en |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| Parts C | 1.03 | 3.15 | 2.86 | 2.47 | 1.92 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe Mandat (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 1,000.0939 | 999.0432 | 983.7812 | 1,003.0668 | 994.0115 |
| Actif net (en k EUR) | 4,755.41 | 3,680.95 | 1,350.57 | 1,093.25 | 1,069.49 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 4,754.968 | 3,684.474 | 1,372.840 | 1,089.909 | 1,075.934 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins- values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et moins- |  |  |  |  |  |
| values nettes (en EUR) |  |  |  |  |  |
| Parts C | -2.45 | -6.41 | -16.70 | -16.08 | -5.15 |
| Capitalisation unitaire sur résultat (en |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| Parts C | 5.08 | 15.56 | 14.10 | 12.41 | 9.44 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe I (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 99,893.4890 | 99,843.3470 | 98,340.8190 | 100,247.0550 | 99,363.2340 |
| Actif net (en k EUR) | 479,220.13 | 476,670.81 | 831,526.89 | 1,839,607.74 | 1,964,100.02 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 4,797.311 | 4,774.187 | 8,455.562 | 18,350.741 | 19,766.869 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins- values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et moins- |  |  |  |  |  |
| values nettes (en EUR) |  |  |  |  |  |
| Parts C | -212.41 | -640.94 | -1,669.82 | -1,607.90 | -515.47 |
| Capitalisation unitaire sur résultat (en |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| Parts C | 581.39 | 1,609.92 | 1,432.85 | 1,219.35 | 965.60 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe Privilege (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 231.8889 | 231.6452 | 228.1068 | 232.6322 | 230.5356 |
| Actif net (en k EUR) | 59,434.25 | 56,009.05 | 23,578.30 | 16,366.85 | 15,089.40 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 256,304.903 | 241,788.075 | 103,365.189 | 70,355.047 | 65,453.647 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins- values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et moins- |  |  |  |  |  |
| values nettes (en EUR) |  |  |  |  |  |
| Parts C | -0.22 | -1.48 | -3.87 | -3.72 | -1.19 |
| Capitalisation unitaire sur résultat (en |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| Parts C | 0.52 | 3.60 | 3.27 | 2.93 | 2.19 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe I USD H (Devise: USD)
| 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- |
| Valeur liquidative (en USD) |  |  |  |  |
| Parts C | 101,809.1586 | 103,074.5284 | 105,873.5581 | 105,808.3162 |
| Actif net (en k EUR) | 9.0700 | 9.4200 | 9.0209 | 448,412.2773 |
| Nombre de titres |  |  |  |  |
| Parts C | 0.100 | 0.100 | 0.100 | 4,701.390 |

| Date de mise en paiement | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins- values nettes | - | - | - | - |
| (y compris les acomptes) (en USD) |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - |
| (y compris les acomptes) (en USD) |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - |
| personnes physiques (en USD) |  |  |  |  |
| Capitalisation unitaire sur plus et moins- |  |  |  |  |
| values nettes (en EUR) |  |  |  |  |
| Parts C | 3,228.10 | 1,763.20 | -5,897.90 | 5,276.45 |
| Capitalisation unitaire sur résultat (en |  |  |  |  |
| EUR) |  |  |  |  |
| Parts C | 856.10 | 1,495.10 | 671.50 | 788.35 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe I GBP H (Devise: GBP)
| 31/03/2021 | 31/03/2022 |
| --- | --- |
| Valeur liquidative (en GBP) |  |
| Parts C	99,939.5205 | 99,646.8731 |
| Actif net (en k EUR)	11.72 | 11.78 |
| Nombre de titres |  |
| Parts C	0.100 | 0.100 |

| Date de mise en paiement	31/03/2021 | 31/03/2022 |
| --- | --- |
| Distribution unitaire sur plus et moins-	- values nettes | - |
| (y compris les acomptes) (en GBP) |  |
| Distribution unitaire sur résultat	- | - |
| (y compris les acomptes) (en GBP) |  |
| Crédit d'impôt unitaire (*)	- | - |
| personnes physiques (en GBP) |  |
| Capitalisation unitaire sur plus et moins- |  |
| values nettes (en EUR) |  |
| Parts C	73.30 | 2,397.70 |
| Capitalisation unitaire sur résultat (en |  |
| EUR) |  |
| Parts C	259.20 | 1,149.40 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe I Plus (Devise: EUR)
| 31/03/2021 | 31/03/2022 |
| --- | --- |
| Valeur liquidative (en EUR) |  |
| Parts C	99,963.3825 | 99,108.3841 |
| Actif net (en k EUR)	100,475.39 | 1,577,830.55 |
| Nombre de titres |  |
| Parts C	1,005.122 | 15,920.253 |

| Date de mise en paiement	31/03/2021 | 31/03/2022 |
| --- | --- |
| Distribution unitaire sur plus et moins-	- values nettes | - |
| (y compris les acomptes) (en EUR) |  |
| Distribution unitaire sur résultat	- | - |
| (y compris les acomptes) (en EUR) |  |
| Crédit d'impôt unitaire (*)	- | - |
| personnes physiques (en EUR) |  |
| Capitalisation unitaire sur plus et moins- |  |
| values nettes (en EUR) |  |
| Parts C	-188.19 | -514.06 |
| Capitalisation unitaire sur résultat (en |  |
| EUR) |  |
| Parts C	215.63 | 989.48 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe Classic C (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 231.9006 | 231.6570 | 228.1190 | 232.6228 | 230.5273 |
| Actif net (en k EUR) | 816,371.01 | 606,300.66 | 548,110.30 | 528,275.51 | 579,598.72 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 3,520,348.395 | 2,617,234.530 | 2,402,738.697 | 2,270,953.526 | 2,514,229.324 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins- values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et moins- |  |  |  |  |  |
| values nettes (en EUR) |  |  |  |  |  |
| Parts C | -0.56 | -1.48 | -3.87 | -3.72 | -1.19 |
| Capitalisation unitaire sur résultat (en |  |  |  |  |  |
| EUR) |  |  |  |  |  |
| Parts C | 1.17 | 1.36 | 3.27 | 2.91 | 2.19 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."
Inventaire des instruments financiers au 31 Mars 2022
| Eléments d'actifs et libellé des valeurs	Quantité	Cours	Devise cotation | Valeur actuelle | % arrondi de l'actif net |
| --- | --- | --- |
| Obligations et valeurs assimilées |  |  |  | 1,533,150,149.41 | 32.76 |
| Négociées sur un marché réglementé ou assimilé |  |  |  | 1,533,150,149.41 | 32.76 |
| ABBOTT IL FIN 0.875% 18-27/09/2023 | 15,002,000.00 | 100.86 | EUR | 15,197,677.56 | 0.32 |
| ABBVIE INC 1.25% 20-01/06/2024 | 10,854,000.00 | 100.96 | EUR | 11,070,617.76 | 0.24 |
| ABBVIE INC 1.375% 16-17/05/2024 | 20,800,000.00 | 101.06 | EUR | 21,268,864.28 | 0.45 |
| ABBVIE INC 1.5% 20-15/11/2023 | 12,125,000.00 | 101.62 | EUR | 12,388,981.15 | 0.26 |
| ABERTIS 3.75% 13-20/06/2023 | 18,200,000.00 | 104.09 | EUR | 19,476,285.60 | 0.42 |
| AEROPORT PARIS 1.5% 15-24/07/2023 | 12,800,000.00 | 101.26 | EUR | 13,092,431.01 | 0.28 |
| ALSTRIA OFFICE 2.125% 16-12/04/2023 | 1,000,000.00 | 101.12 | EUR | 1,031,704.67 | 0.02 |
| AMERICA MOVIL SA 1.5% 16-10/03/2024 | 20,035,000.00 | 101.17 | EUR | 20,287,701.73 | 0.43 |
| AMERICA MOVIL SA 3.259% 13-22/07/2023 | 2,000,000.00 | 103.55 | EUR | 2,116,000.99 | 0.05 |
| AMER INTL GROUP 1.5% 16-08/06/2023 | 24,334,000.00 | 100.90 | EUR | 24,849,354.79 | 0.53 |
| AROUNDTOWN SA 0.375% 19-23/09/2022 | 36,400,000.00 | 100.14 | EUR | 36,521,888.34 | 0.78 |
| ASAHI GROUP 0.01% 21-19/04/2024 | 34,457,000.00 | 98.41 | EUR | 33,913,468.20 | 0.72 |
| AT&T INC 18-05/09/2023 FRN | 12,940,000.00 | 101.12 | EUR | 13,162,102.96 | 0.28 |
| AT&T INC 1.3% 15-05/09/2023 | 10,000,000.00 | 101.27 | EUR | 10,201,069.03 | 0.22 |
| AT&T INC 1.45% 14-01/06/2022 | 1,152,000.00 | 100.10 | EUR | 1,167,021.03 | 0.02 |
| AT&T INC 1.95% 19-15/09/2023 | 10,000,000.00 | 102.05 | EUR | 10,310,173.58 | 0.22 |
| AT&T INC 2.4% 14-15/03/2024 | 10,590,000.00 | 103.08 | EUR | 10,927,315.38 | 0.23 |
| ATOS SE 0.75% 18-07/05/2022 | 20,600,000.00 | 99.71 | EUR | 20,679,629.84 | 0.44 |
| BACARDI LTD 2.75% 13-03/07/2023 | 26,110,000.00 | 102.40 | EUR | 27,270,793.37 | 0.58 |
| BARCLAYS PLC 1.5% 18-03/09/2023 | 10,000,000.00 | 101.69 | EUR | 10,255,255.41 | 0.22 |
| BARRY CALLE SVCS 2.375% 16-24/05/2024 | 6,000,000.00 | 102.37 | EUR | 6,263,760.01 | 0.13 |
| BAYER AG 0.375% 20-06/07/2024 | 25,000,000.00 | 99.04 | EUR | 24,828,440.62 | 0.53 |
| BECTON DICKINSON 0.632% 19-04/06/2023 | 29,339,000.00 | 100.42 | EUR | 29,615,253.69 | 0.63 |
| BECTON DICKINSON 1.401% 18-24/05/2023 | 13,365,000.00 | 101.13 | EUR | 13,676,078.23 | 0.29 |
| BOOKING HOLDINGS INC 2.15% 15-25/11/2022 | 6,796,000.00 | 100.89 | EUR | 6,906,689.97 | 0.15 |
| BP CAPITAL PLC 1.876% 20-07/04/2024 | 27,000,000.00 | 102.17 | EUR | 28,083,119.02 | 0.60 |
| BPCE 4.625% 13-18/07/2023 | 6,900,000.00 | 105.07 | EUR | 7,473,409.71 | 0.16 |
| CARMILA 2.375% 15-18/09/2023 | 16,100,000.00 | 101.95 | EUR | 16,619,385.17 | 0.36 |
| CDP RETI SRL 1.875% 15-29/05/2022 | 49,660,000.00 | 100.29 | EUR | 50,584,113.01 | 1.08 |
| CKH FIN 16 1.25% 16-06/04/2023 | 14,232,000.00 | 101.06 | EUR | 14,557,353.78 | 0.31 |
| CK HUTCHISON 0.375% 19-17/10/2023 | 18,500,000.00 | 99.37 | EUR | 18,414,779.85 | 0.39 |
| CNH IND FIN 0% 20-01/04/2024 | 20,236,000.00 | 98.17 | EUR | 19,865,968.55 | 0.42 |
| CNP ASSURANCES 1.875% 16-20/10/2022 | 38,700,000.00 | 100.87 | EUR | 39,359,723.46 | 0.84 |

Inventaire des instruments financiers au 31 Mars 2022
| COCA-COLA EUROPEAN 1.125% 16-26/05/2024 | 9,400,000.00 | 100.83 | EUR | 9,567,777.52 | 0.20 |
| --- | --- | --- | --- | --- | --- |
| COOPERATIEVE RAB 0.75% 18-29/08/2023 | 7,400,000.00 | 101.00 | EUR | 7,506,840.91 | 0.16 |
| CRD MUTUEL ARKEA 1.25% 17-31/05/2024 | 38,800,000.00 | 101.01 | EUR | 39,594,494.37 | 0.85 |
| CTE CO TRANSP EL 0.875% 17-29/09/2024 | 9,300,000.00 | 99.90 | EUR | 9,331,996.43 | 0.20 |
| DANAHER CORP 1.7% 20-30/03/2024 | 10,300,000.00 | 102.10 | EUR | 10,517,138.17 | 0.22 |
| DELL BANK INTERN 0.625% 19-17/10/2022 | 15,000,000.00 | 100.33 | EUR | 15,091,293.52 | 0.32 |
| DELL BANK INTERN 1.625% 20-24/06/2024 | 15,300,000.00 | 101.04 | EUR | 15,649,920.22 | 0.33 |
| EASTMAN CHEMICAL 1.5% 16-26/05/2023 | 42,550,000.00 | 100.77 | EUR | 43,418,582.94 | 0.93 |
| EUROFINS SCIEN 2.125% 17-25/07/2024 | 30,932,000.00 | 101.87 | EUR | 31,959,000.41 | 0.68 |
| FERROVIAL EMISIO 0.375% 16-14/09/2022 | 18,400,000.00 | 100.23 | EUR | 18,480,329.74 | 0.39 |
| FIAT CHRYSLER AU 3.375% 20-07/07/2023 | 20,000,000.00 | 102.90 | EUR | 21,074,507.12 | 0.45 |
| FRESENIUS SE & C 0% 17-31/01/2024 | 22,500,000.00 | 98.26 | EUR | 22,108,725.00 | 0.47 |
| GRAND CITY PROP 1.7% 20-09/04/2024 | 4,500,000.00 | 100.64 | EUR | 4,603,211.20 | 0.10 |
| HAMMERSON PLC 1.75% 16-15/03/2023 | 4,000,000.00 | 100.41 | EUR | 4,019,268.49 | 0.09 |
| IBM CORP 1.125% 16-06/09/2024 | 4,750,000.00 | 101.00 | EUR | 4,827,662.10 | 0.10 |
| INTERNATIONAL FL 1.75% 16-14/03/2024 | 14,600,000.00 | 101.26 | EUR | 14,795,732.98 | 0.32 |
| ITALY BTPS 0% 20-15/01/2024 | 30,000,000.00 | 99.43 | EUR | 29,830,200.00 | 0.64 |
| ITALY BTPS 0% 21-15/04/2024 | 20,000,000.00 | 98.95 | EUR | 19,790,600.00 | 0.42 |
| ITALY BTPS 0% 21-15/08/2024 | 35,000,000.00 | 98.55 | EUR | 34,493,987.50 | 0.74 |
| ITALY BTPS 0% 21-30/01/2024 | 15,000,000.00 | 99.45 | EUR | 14,917,125.00 | 0.32 |
| ITALY BTPS 0% 22-29/11/2023 | 36,500,000.00 | 99.59 | EUR | 36,349,985.00 | 0.78 |
| ITV PLC 2% 16-01/12/2023 | 6,913,000.00 | 101.41 | EUR | 7,056,251.48 | 0.15 |
| JCDECAUX SA 1% 16-01/06/2023 | 21,700,000.00 | 100.47 | EUR | 21,983,025.94 | 0.47 |
| JCDECAUX SA 2% 20-24/10/2024 | 10,000,000.00 | 101.78 | EUR | 10,264,912.34 | 0.22 |
| KHFC 0.75% 18-30/10/2023 | 9,900,000.00 | 100.53 | EUR | 9,983,093.55 | 0.21 |
| KUTXABANK 0.5% 19-25/09/2024 | 4,500,000.00 | 98.68 | EUR | 4,451,980.25 | 0.10 |
| LOREAL SA 0.375% 22-29/03/2024 | 15,300,000.00 | 99.98 | EUR | 15,296,547.52 | 0.33 |
| MCDONALDS CORP 1% 16-15/11/2023 | 32,000,000.00 | 101.06 | EUR | 32,459,543.28 | 0.69 |
| MITSUB UFJ FIN 0.339% 19-19/07/2024 | 30,879,000.00 | 98.80 | EUR | 30,581,992.07 | 0.65 |
| MITSUB UFJ FIN 0.978% 20-09/06/2024 | 4,574,000.00 | 100.48 | EUR | 4,632,295.10 | 0.10 |
| MOLNLYCKE HLD 1.75% 15-28/02/2024 | 11,863,000.00 | 101.24 | EUR | 12,027,425.94 | 0.26 |
| MORGAN STANLEY 1.75% 16-11/03/2024 | 29,000,000.00 | 101.99 | EUR | 29,604,919.82 | 0.63 |
| MYLAN NV 2.25% 16-22/11/2024 | 2,000,000.00 | 101.52 | EUR | 2,046,379.71 | 0.04 |
| NISSAN MOTOR CO 1.94% 20-15/09/2023 | 33,870,000.00 | 101.25 | EUR | 34,646,367.63 | 0.74 |
| PERNOD RICARD SA 0% 19-24/10/2023 | 18,200,000.00 | 99.41 | EUR | 18,092,445.28 | 0.39 |
| PRINCIPALITY OF 0.037% 19-15/04/2022 | 1,201,917.09 | 100.01 | EUR | 1,202,456.74 | 0.03 |

Inventaire des instruments financiers au 31 Mars 2022
| Eléments d'actifs et libellé des valeurs	Quantité	Cours	Devise cotation | Valeur actuelle | % arrondi de l'actif net |
| --- | --- | --- |
| PRINCIPALITY OF 0.081% 19-30/04/2022 | 4,000,000.00 | 100.04 | EUR | 4,004,438.10 | 0.09 |
| PROSEGUR SA 1% 18-08/02/2023 | 35,700,000.00 | 100.49 | EUR | 35,923,405.61 | 0.77 |
| PUBLICIS GROUPE 0.5% 16-03/11/2023 | 3,800,000.00 | 100.17 | EUR | 3,814,081.27 | 0.08 |
| SANTANDER UK GRP 1.125% 16-08/09/2023 | 44,080,000.00 | 100.95 | EUR | 44,774,139.72 | 0.96 |
| SCANIA CV AB 0% 20-23/11/2022 | 4,875,000.00 | 100.03 | EUR | 4,876,277.74 | 0.10 |
| SPANISH GOVT 0% 21-31/05/2024 | 25,000,000.00 | 99.56 | EUR | 24,889,750.00 | 0.53 |
| SPAREBANK 1 OEST 0.25% 19-30/09/2024 | 10,200,000.00 | 98.36 | EUR | 10,045,546.25 | 0.21 |
| STRYKER CORP 1.125% 18-30/11/2023 | 31,300,000.00 | 101.12 | EUR | 31,767,022.67 | 0.68 |
| THALES SA 0.75% 16-07/06/2023 | 1,800,000.00 | 100.76 | EUR | 1,824,729.55 | 0.04 |
| THERMO FISHER 0% 21-18/11/2023 | 17,000,000.00 | 99.23 | EUR | 16,868,406.40 | 0.36 |
| UNICREDIT LEASIN 0.502% 19-18/10/2022 | 6,700,000.00 | 100.13 | EUR | 6,723,902.66 | 0.14 |
| UNITED PARCEL 0.375% 17-15/11/2023 | 16,936,000.00 | 100.02 | EUR | 16,963,560.97 | 0.36 |
| UPJOHN FINANCE 0.816% 20-23/06/2022 | 35,896,000.00 | 100.16 | EUR | 36,178,009.10 | 0.77 |
| UPJOHN FINANCE 1.023% 20-23/06/2024 | 12,909,000.00 | 99.30 | EUR | 12,920,561.28 | 0.28 |
| VONOVIA BV 0.75% 18-15/01/2024 | 9,100,000.00 | 99.68 | EUR | 9,085,260.69 | 0.19 |
| WINTERSHALL FIN 0.452% 19-25/09/2023 | 39,900,000.00 | 97.00 | EUR | 38,796,630.38 | 0.83 |
| Titres de créances |  |  |  | 2,529,908,799.21 | 54.06 |
| Négociés sur un marché réglementé ou assimilé |  |  |  | 2,529,908,799.21 | 54.06 |
| Titres de Créances Négociables |  |  |  | 163,081,925.65 | 3.48 |
| ARVAL SERVICE LEASE FRANCE 0% 24/05/2022 | 24,000,000.00 | 100.08 | EUR | 24,018,235.20 | 0.51 |
| ARVAL SERVICE LEASE FRANCE 0% 24/05/2022 | 10,000,000.00 | 100.08 | EUR | 10,007,598.00 | 0.21 |
| BAYER AG 0% 15/07/2022 | 10,000,000.00 | 100.13 | EUR | 10,013,256.90 | 0.21 |
| ENBW INTERNATIONAL FINANCE BV 0% 08/04/2 | 20,000,000.00 | 100.01 | EUR | 20,002,242.00 | 0.43 |
| FRESENIUS FINANCE IRELAND PLC 0% 08/06/2 | 10,000,000.00 | 100.08 | EUR | 10,008,160.10 | 0.21 |
| LOUIS DREYFUS COMPANY BV 0% 19/04/2022 N | 30,000,000.00 | 100.02 | EUR | 30,006,933.30 | 0.64 |
| MERCIALYS 0% 11/04/2022 NEUCP | 4,000,000.00 | 100.02 | EUR | 4,000,616.60 | 0.09 |
| SSE PLC 0% 27/04/2022 | 30,000,000.00 | 100.03 | EUR | 30,009,853.80 | 0.64 |
| VATTENFALL AB 0% 12/07/2022 | 25,000,000.00 | 100.06 | EUR | 25,015,029.75 | 0.53 |
| Autres Titres de Créances |  |  |  | 2,366,826,873.56 | 50.58 |
| ABB FINANCE BV 0.625% 22-31/03/2024 | 5,351,000.00 | 99.99 | EUR | 5,350,232.13 | 0.11 |
| ABERTI 1.5% 19-27/06/2024 | 1,900,000.00 | 101.32 | EUR | 1,946,635.81 | 0.04 |
| ABN AMRO BANK NV 7.125% 12-06/07/2022 | 40,305,000.00 | 101.73 | EUR | 43,112,177.50 | 0.92 |
| AIB GROUP PLC 1.25% 19-28/05/2024 | 11,801,000.00 | 100.25 | EUR | 11,954,228.89 | 0.26 |
| AIB GROUP PLC 1.5% 18-29/03/2023 | 33,875,000.00 | 101.22 | EUR | 34,291,367.51 | 0.73 |
| ALD SA 0.375% 19-18/07/2023 | 21,300,000.00 | 99.97 | EUR | 21,349,576.54 | 0.46 |
| ALD SA 0.375% 20-19/10/2023 | 17,200,000.00 | 99.74 | EUR | 17,184,225.15 | 0.37 |

Inventaire des instruments financiers au 31 Mars 2022
| AMADEUS IT GROUP 0.875% 18-18/09/2023 | 20,200,000.00 | 100.57 | EUR | 20,409,033.34 | 0.44 |
| --- | --- | --- | --- | --- | --- |
| AMADEUS IT GROUP 2.5% 20-20/05/2024 | 10,000,000.00 | 102.95 | EUR | 10,510,605.42 | 0.22 |
| AMERICAN HONDA F 0.75% 17-17/01/2024 | 6,000,000.00 | 100.27 | EUR | 6,025,130.40 | 0.13 |
| ARVAL SERVICE 0% 21-30/09/2024 | 2,500,000.00 | 97.94 | EUR | 2,448,419.50 | 0.05 |
| AUCHAN SA 2.25% 13-06/04/2023 | 6,700,000.00 | 101.11 | EUR | 6,922,919.97 | 0.15 |
| BANCO BILBAO VIZ 0.375% 19-02/10/2024 | 2,100,000.00 | 98.80 | EUR | 2,078,707.50 | 0.04 |
| BANCO BILBAO VIZ 1.125% 19-28/02/2024 | 12,200,000.00 | 100.89 | EUR | 12,320,730.95 | 0.26 |
| BANCO SABADELL 20-29/06/2023 FRN | 6,700,000.00 | 100.27 | EUR | 6,806,356.01 | 0.15 |
| BANCO SABADELL 0.875% 17-05/03/2023 | 15,900,000.00 | 100.55 | EUR | 15,998,067.82 | 0.34 |
| BANCO SABADELL 1.625% 18-07/03/2024 | 9,100,000.00 | 100.95 | EUR | 9,195,898.47 | 0.20 |
| BANCO SANTANDER 22-26/01/2025 FRN | 10,000,000.00 | 98.90 | EUR | 9,891,811.42 | 0.21 |
| BANCO SAN TOTTA 0.875% 17-25/04/2024 | 1,500,000.00 | 100.51 | EUR | 1,519,930.63 | 0.03 |
| BANKIA 1% 19-25/06/2024 | 7,400,000.00 | 100.06 | EUR | 7,461,002.16 | 0.16 |
| BANK NOVA SCOTIA 0.375% 18-23/10/2023 | 15,000,000.00 | 100.11 | EUR | 15,040,427.42 | 0.32 |
| BANK OF AMER CRP 2.375% 14-19/06/2024 | 24,000,000.00 | 103.43 | EUR | 25,267,685.29 | 0.54 |
| BANK OF IRELAND 1.375% 18-29/08/2023 | 42,976,000.00 | 101.11 | EUR | 43,801,201.25 | 0.94 |
| BANQ FED CRD MUT 3% 14-21/05/2024 | 28,800,000.00 | 104.38 | EUR | 30,806,076.07 | 0.66 |
| BARCLAYS PLC 1.875% 16-08/12/2023 | 29,327,000.00 | 102.36 | EUR | 30,188,448.21 | 0.65 |
| BASF SE 0.101% 20-05/06/2023 | 5,300,000.00 | 99.92 | EUR | 5,299,893.84 | 0.11 |
| BAWAG PSK 8.125% 13-30/10/2023 | 2,000,000.00 | 110.63 | EUR | 2,280,314.63 | 0.05 |
| BNP PARIBAS 1% 17-27/06/2024 | 3,000,000.00 | 100.31 | EUR | 3,031,927.32 | 0.06 |
| BNP PARIBAS 1% 17-29/11/2024 | 2,300,000.00 | 99.48 | EUR | 2,295,779.65 | 0.05 |
| BNP PARIBAS 1.125% 18-22/11/2023 | 28,200,000.00 | 101.12 | EUR | 28,627,258.97 | 0.61 |
| BNP PARIBAS 1.125% 19-28/08/2024 | 7,200,000.00 | 100.45 | EUR | 7,280,446.41 | 0.16 |
| BPCE 0.875% 18-31/01/2024 | 37,400,000.00 | 100.30 | EUR | 37,566,706.15 | 0.80 |
| BRISA CONCESSAO 2% 16-22/03/2023 | 29,000,000.00 | 101.75 | EUR | 29,520,992.27 | 0.63 |
| BRITISH TELECOMM 0.875% 18-26/09/2023 | 6,000,000.00 | 100.76 | EUR | 6,072,375.02 | 0.13 |
| BRIT SKY BROADCA 1.875% 14-24/11/2023 | 2,277,000.00 | 102.55 | EUR | 2,349,834.11 | 0.05 |
| CAIXABANK 1.125% 17-12/01/2023 | 11,500,000.00 | 100.88 | EUR | 11,628,717.31 | 0.25 |
| CAIXABANK 1.125% 17-17/05/2024 | 2,000,000.00 | 100.41 | EUR | 2,027,728.14 | 0.04 |
| CAIXABANK 1.75% 18-24/10/2023 | 15,200,000.00 | 101.93 | EUR | 15,608,771.21 | 0.33 |
| CAIXABANK 2.375% 19-01/02/2024 | 14,900,000.00 | 102.98 | EUR | 15,399,602.55 | 0.33 |
| CAN IMPERIAL BK 0.375% 19-03/05/2024 | 4,768,000.00 | 99.34 | EUR | 4,752,951.04 | 0.10 |
| CARLSBERG BREW 2.5% 14-28/05/2024 | 13,000,000.00 | 102.71 | EUR | 13,625,319.46 | 0.29 |
| CARLSBERG BREW 2.625% 12-15/11/2022 | 2,000,000.00 | 101.62 | EUR | 2,052,050.84 | 0.04 |
| CARREFOUR SA 0.875% 18-12/06/2023 | 1,000,000.00 | 100.42 | EUR | 1,011,238.90 | 0.02 |

Inventaire des instruments financiers au 31 Mars 2022
| CASSA DEPOSITI E 16-26/07/2022 FRN | 10,000,000.00 | 99.99 | EUR | 10,002,902.00 | 0.21 |
| --- | --- | --- | --- | --- | --- |
| CIE DE ST GOBAIN 0.875% 18-21/09/2023 | 1,800,000.00 | 100.69 | EUR | 1,820,729.10 | 0.04 |
| CIE DE ST GOBAIN 1.75% 20-03/04/2023 | 13,000,000.00 | 101.37 | EUR | 13,404,168.24 | 0.29 |
| CITIGROUP INC 0.75% 16-26/10/2023 | 20,000,000.00 | 100.56 | EUR | 20,175,503.59 | 0.43 |
| CITIGROUP INC 2.375% 14-22/05/2024 | 18,225,000.00 | 103.22 | EUR | 19,183,909.08 | 0.41 |
| CNH IND FIN 2.875% 16-17/05/2023 | 6,000,000.00 | 102.81 | EUR | 6,318,894.27 | 0.14 |
| COMMERZBANK AG 0.5% 16-13/09/2023 | 14,160,000.00 | 99.79 | EUR | 14,169,389.89 | 0.30 |
| COMMERZBANK AG 0.5% 18-28/08/2023 | 16,000,000.00 | 100.27 | EUR | 16,090,387.29 | 0.34 |
| COMMERZBANK AG 1.25% 18-23/10/2023 | 14,700,000.00 | 100.71 | EUR | 14,884,802.60 | 0.32 |
| COMPAGNIE DE ST 2.875% 13-05/12/2023 | 15,000,000.00 | 104.02 | EUR | 15,740,513.79 | 0.34 |
| CONTI-GUMMI FIN 2.125% 20-27/11/2023 | 25,663,000.00 | 102.22 | EUR | 26,418,300.02 | 0.56 |
| COOPERATIEVE RAB 0.625% 19-27/02/2024 | 20,000,000.00 | 100.28 | EUR | 20,066,650.90 | 0.43 |
| CRD MUTUEL ARKEA 2.375% 13-11/07/2023 | 3,000,000.00 | 102.86 | EUR | 3,137,178.04 | 0.07 |
| CRH FINLAND SERV 0.875% 20-05/11/2023 | 29,834,000.00 | 100.39 | EUR | 30,054,368.84 | 0.64 |
| DAIMLER INTL FIN 0.25% 19-06/11/2023 | 15,000,000.00 | 99.67 | EUR | 14,965,182.76 | 0.32 |
| DS SMITH PLC 1.375% 17-26/07/2024 | 18,551,000.00 | 100.07 | EUR | 18,737,082.59 | 0.40 |
| DS SMITH PLC 2.25% 15-16/09/2022 | 18,586,000.00 | 100.44 | EUR | 18,892,955.08 | 0.40 |
| EANDIS 2.75% 12-30/11/2022 | 6,000,000.00 | 101.83 | EUR | 6,164,314.43 | 0.13 |
| EDP FINANCE BV 1.875% 17-29/09/2023 | 5,742,000.00 | 102.23 | EUR | 5,923,740.53 | 0.13 |
| ELEC DE FRANCE 4.625% 09-11/09/2024 | 7,050,000.00 | 109.13 | EUR | 7,873,113.44 | 0.17 |
| ENEL FIN INTL NV 4.875% 12-17/04/2023 | 5,700,000.00 | 105.16 | EUR | 6,259,104.75 | 0.13 |
| ENI SPA 0% 16-13/04/2022 CV | 22,000,000.00 | 99.92 | EUR | 21,981,960.00 | 0.47 |
| ERSTE GROUP 7.125% 12-10/10/2022 | 1,500,000.00 | 103.26 | EUR | 1,599,324.51 | 0.03 |
| EUROGRID GMBH 1.625% 15-03/11/2023 | 40,000,000.00 | 101.63 | EUR | 40,916,105.64 | 0.87 |
| EVONIK 1% 15-23/01/2023 | 16,487,000.00 | 100.55 | EUR | 16,607,386.70 | 0.35 |
| FCA BANK IE 0.125% 20-16/11/2023 | 14,735,000.00 | 99.15 | EUR | 14,617,061.48 | 0.31 |
| FCA BANK IE 0.25% 20-28/02/2023 | 10,500,000.00 | 100.18 | EUR | 10,521,361.50 | 0.22 |
| FCA BANK IE 0.5% 20-18/09/2023 | 14,666,000.00 | 99.99 | EUR | 14,703,463.34 | 0.31 |
| FCA BANK IE 0.625% 19-24/11/2022 | 5,642,000.00 | 100.40 | EUR | 5,676,566.60 | 0.12 |
| FERROVIE DEL 16-18/07/2022 | 20,000,000.00 | 100.05 | EUR | 20,016,340.00 | 0.43 |
| FIAT FIN & TRADE 4.75% 14-15/07/2022 | 12,725,000.00 | 101.33 | EUR | 13,323,040.39 | 0.28 |
| FORTUM OYJ 0.875% 19-27/02/2023 | 12,330,000.00 | 99.56 | EUR | 12,285,025.38 | 0.26 |
| FORTUM OYJ 2.25% 12-06/09/2022 | 22,956,000.00 | 100.34 | EUR | 23,325,874.65 | 0.50 |
| FRESENIUS MEDICA 0.25% 19-29/11/2023 | 15,091,000.00 | 99.35 | EUR | 15,005,057.01 | 0.32 |
| GE CAP EUR FUND 2.625% 13-15/03/2023 | 26,000,000.00 | 102.45 | EUR | 26,665,825.81 | 0.57 |
| GLAXOSMITHKLINE 0% 19-23/09/2023 | 1,500,000.00 | 99.58 | EUR | 1,493,658.45 | 0.03 |

Inventaire des instruments financiers au 31 Mars 2022
| GOLDMAN SACHS GP 21-30/04/2024 FRN | 25,000,000.00 | 99.36 | EUR | 24,842,894.52 | 0.53 |
| --- | --- | --- | --- | --- | --- |
| GOLDMAN SACHS GP 0.125% 19-19/08/2024 | 5,306,000.00 | 98.11 | EUR | 5,209,906.35 | 0.11 |
| GOLDMAN SACHS GP 1.375% 17-15/05/2024 | 1,600,000.00 | 100.99 | EUR | 1,635,105.75 | 0.03 |
| HEATHROW FNDG 1.875% 14-23/05/2022 | 39,515,000.00 | 100.29 | EUR | 40,262,422.16 | 0.86 |
| HEIDELCEMENT FIN 0.5% 18-09/08/2022 | 9,221,000.00 | 100.03 | EUR | 9,253,321.26 | 0.20 |
| HEIMSTADEN BOSTA 2.125% 19-05/09/2023 | 4,800,000.00 | 101.86 | EUR | 4,946,978.26 | 0.11 |
| HEIMSTADEN BOST 0.25% 21-13/10/2024 | 52,164,000.00 | 97.00 | EUR | 50,658,079.27 | 1.08 |
| HOLDING DINFRA 0.625% 17-27/03/2023 | 45,900,000.00 | 100.34 | EUR | 46,060,759.85 | 0.98 |
| INFINEON TECH 0.75% 20-24/06/2023 | 18,800,000.00 | 100.74 | EUR | 19,047,671.66 | 0.41 |
| INMOBILIARIA COL 1.45% 16-28/10/2024 | 3,900,000.00 | 100.33 | EUR | 3,936,729.84 | 0.08 |
| INTESA SANPAOLO 1% 19-04/07/2024 | 33,800,000.00 | 100.13 | EUR | 34,095,106.46 | 0.73 |
| INTESA SANPAOLO 1.375% 17-18/01/2024 | 5,000,000.00 | 101.46 | EUR | 5,086,637.14 | 0.11 |
| IREN SPA 2.75% 15-02/11/2022 | 5,000,000.00 | 101.65 | EUR | 5,138,494.64 | 0.11 |
| JYSKE BANK A/S 19-20/06/2024 FRN | 36,309,000.00 | 100.15 | EUR | 36,540,800.78 | 0.78 |
| KLEPI 1% 15-17/04/2023 | 11,600,000.00 | 100.60 | EUR | 11,780,698.38 | 0.25 |
| LB BADEN-WUERT 0.375% 19-24/05/2024 | 2,500,000.00 | 98.83 | EUR | 2,478,756.76 | 0.05 |
| LEASEPLAN CORP 0.125% 19-13/09/2023 | 17,250,000.00 | 99.18 | EUR | 17,119,531.47 | 0.37 |
| LEASEPLAN CORP 0.75% 17-03/10/2022 | 16,300,000.00 | 100.42 | EUR | 16,428,549.66 | 0.35 |
| LLOYDS BK GR PLC 18-15/01/2024 FRN | 16,819,000.00 | 100.48 | EUR | 16,920,659.86 | 0.36 |
| LLOYDS BK GR PLC 1% 16-09/11/2023 | 13,000,000.00 | 100.94 | EUR | 13,172,948.24 | 0.28 |
| LOGICOR FIN 0.75% 19-15/07/2024 | 18,300,000.00 | 98.51 | EUR | 18,124,867.50 | 0.39 |
| MERCK FIN SERVIC 0.005% 19-15/12/2023 | 11,800,000.00 | 99.51 | EUR | 11,742,341.90 | 0.25 |
| METRO AG 1.125% 18-06/03/2023 | 26,400,000.00 | 99.28 | EUR | 26,229,494.23 | 0.56 |
| MITSUB UFJ FIN 0.68% 18-26/01/2023 | 5,390,000.00 | 100.71 | EUR | 5,434,447.71 | 0.12 |
| MITSUB UFJ FIN 0.98% 18-09/10/2023 | 10,000,000.00 | 100.95 | EUR | 10,141,236.32 | 0.22 |
| MIZUHO FINANCIAL 0.118% 19-06/09/2024 | 8,300,000.00 | 98.25 | EUR | 8,159,985.41 | 0.17 |
| MIZUHO FINANCIAL 0.523% 19-10/06/2024 | 14,364,000.00 | 99.64 | EUR | 14,372,488.51 | 0.31 |
| MIZUHO FINANCIAL 1.02% 18-11/10/2023 | 14,200,000.00 | 100.87 | EUR | 14,391,166.51 | 0.31 |
| MORGAN STANLEY 19-26/07/2024 FRN | 5,000,000.00 | 100.33 | EUR | 5,038,309.05 | 0.11 |
| MOTABILITY OPS 1.625% 15-09/06/2023 | 14,000,000.00 | 101.82 | EUR | 14,438,836.46 | 0.31 |
| NATL GRID NA INC 0.75% 18-08/08/2023 | 28,550,000.00 | 100.44 | EUR | 28,814,092.27 | 0.62 |
| NATWEST MARKETS 1% 19-28/05/2024 | 6,000,000.00 | 100.22 | EUR | 6,063,657.95 | 0.13 |
| NE PROPERTY COOP 1.75% 17-23/11/2024 | 5,909,000.00 | 98.41 | EUR | 5,851,088.76 | 0.13 |
| NIBC BANK NV 2% 19-09/04/2024 | 21,400,000.00 | 101.80 | EUR | 22,203,665.22 | 0.47 |
| NYKREDIT 0.125% 19-10/07/2024 | 5,191,000.00 | 97.85 | EUR | 5,083,889.99 | 0.11 |
| NYKREDIT 0.25% 19-20/01/2023 | 12,700,000.00 | 100.19 | EUR | 12,730,619.09 | 0.27 |

Inventaire des instruments financiers au 31 Mars 2022
| NYKREDIT 0.875% 19-17/01/2024 | 25,670,000.00 | 99.98 | EUR | 25,710,633.04 | 0.55 |
| --- | --- | --- | --- | --- | --- |
| OMV AG 0% 20-16/06/2023 | 14,798,000.00 | 99.77 | EUR | 14,764,633.47 | 0.32 |
| OMV AG 0.75% 18-04/12/2023 | 16,740,000.00 | 100.43 | EUR | 16,852,097.89 | 0.36 |
| OMV AG 1.5% 20-09/04/2024 | 5,392,000.00 | 101.37 | EUR | 5,544,981.49 | 0.12 |
| OP CORPORATE BK 0.375% 19-19/06/2024 | 2,267,000.00 | 98.82 | EUR | 2,246,914.79 | 0.05 |
| PEUGEOT 2% 17-23/03/2024 | 12,773,000.00 | 101.87 | EUR | 13,017,270.29 | 0.28 |
| PSA BANQUE FRANC 0.625% 17-10/10/2022 | 3,600,000.00 | 100.42 | EUR | 3,625,831.10 | 0.08 |
| RAIFFEISEN BK IN 6% 13-16/10/2023 | 35,600,000.00 | 103.03 | EUR | 37,651,861.94 | 0.80 |
| RCI BANQUE 17-04/11/2024 FRN | 5,000,000.00 | 99.29 | EUR | 4,964,903.69 | 0.11 |
| RCI BANQUE 0.75% 19-10/04/2023 | 10,000,000.00 | 99.99 | EUR | 10,071,726.21 | 0.22 |
| RCI BANQUE 1% 16-17/05/2023 | 8,300,000.00 | 100.03 | EUR | 8,374,921.85 | 0.18 |
| RCI BANQUE 1.375% 17-08/03/2024 | 19,633,000.00 | 99.83 | EUR | 19,616,937.03 | 0.42 |
| REN FINANCE BV 1.75% 16-01/06/2023 | 2,500,000.00 | 101.65 | EUR | 2,577,690.74 | 0.06 |
| REP OF POLAND 0% 20-07/07/2023 | 10,000,000.00 | 99.31 | EUR | 9,930,500.00 | 0.21 |
| REPSOL INTL FIN 0.125% 20-05/10/2024 | 2,300,000.00 | 98.33 | EUR | 2,263,022.13 | 0.05 |
| ROMANIA 3.625% 14-24/04/2024 | 27,600,000.00 | 104.50 | EUR | 29,776,713.70 | 0.64 |
| ROYAL BK SCOTLND 2.5% 16-22/03/2023 | 26,000,000.00 | 102.45 | EUR | 26,652,923.40 | 0.57 |
| SCANIA CV AB 0.125% 20-13/02/2023 | 7,050,000.00 | 99.83 | EUR | 7,039,187.66 | 0.15 |
| SCANIA CV AB 0.5% 20-06/10/2023 | 4,166,000.00 | 99.76 | EUR | 4,166,203.12 | 0.09 |
| SCENTRE MGMT 2.25% 14-16/07/2024 | 11,000,000.00 | 102.36 | EUR | 11,434,490.21 | 0.24 |
| SFIL SA 0% 19-24/05/2024 | 1,000,000.00 | 99.14 | EUR | 991,375.40 | 0.02 |
| SIEMENS FINAN 0% 20-20/02/2023 | 1,000,000.00 | 100.11 | EUR | 1,001,131.80 | 0.02 |
| SOCIETE GENERALE 1.25% 19-15/02/2024 | 21,000,000.00 | 100.91 | EUR | 21,222,815.24 | 0.45 |
| SOCIETE GENERALE 4% 13-07/06/2023 | 21,200,000.00 | 103.92 | EUR | 22,721,064.92 | 0.49 |
| STANDARD CHART 17-03/10/2023 FRN | 17,500,000.00 | 100.33 | EUR | 17,622,412.19 | 0.38 |
| STANDARD CHART 3.625% 12-23/11/2022 | 28,124,000.00 | 102.12 | EUR | 29,078,009.07 | 0.62 |
| STATOIL ASA 0.875% 15-17/02/2023 | 3,337,000.00 | 100.58 | EUR | 3,359,783.87 | 0.07 |
| SUMITOMO MITSUI 0.465% 19-30/05/2024 | 9,100,000.00 | 99.31 | EUR | 9,072,892.16 | 0.19 |
| SUMITOMO MITSUI 0.819% 18-23/07/2023 | 13,230,000.00 | 100.85 | EUR | 13,417,068.59 | 0.29 |
| SUMITOMO MITSUI 0.934% 17-11/10/2024 | 18,536,000.00 | 100.17 | EUR | 18,648,747.56 | 0.40 |
| SYDBANK A/S 1.375% 18-18/09/2023 | 2,900,000.00 | 101.30 | EUR | 2,959,035.07 | 0.06 |
| TELEFONICA EMIS 1.069% 19-05/02/2024 | 2,000,000.00 | 101.14 | EUR | 2,025,970.87 | 0.04 |
| TELENOR ASA 2.75% 12-27/06/2022 | 1,188,000.00 | 100.67 | EUR | 1,220,761.08 | 0.03 |
| TELENOR 0% 19-25/09/2023 | 15,000,000.00 | 99.44 | EUR | 14,916,570.00 | 0.32 |
| TESCO CORP TREAS 1.375% 18-24/10/2023 | 35,300,000.00 | 101.07 | EUR | 35,886,094.89 | 0.77 |
| THALES SA 0.875% 18-19/04/2024 | 3,000,000.00 | 100.47 | EUR | 3,039,108.66 | 0.06 |

Inventaire des instruments financiers au 31 Mars 2022
| Eléments d'actifs et libellé des valeurs	Quantité	Cours	Devise cotation | Valeur actuelle | % arrondi de l'actif net |
| --- | --- | --- |
| TORONTO DOM BANK 0.375% 19-25/04/2024 | 6,235,000.00 | 99.29 | EUR | 6,212,647.84 | 0.13 |
| TOYOTA FIN AUSTR 0.064% 22-13/01/2025 | 8,059,000.00 | 97.64 | EUR | 7,869,533.03 | 0.17 |
| TOYOTA FIN AUSTR 0.25% 19-09/04/2024 | 13,100,000.00 | 99.08 | EUR | 13,010,767.47 | 0.28 |
| UNICREDIT SPA 2% 16-04/03/2023 | 19,100,000.00 | 101.60 | EUR | 19,433,783.04 | 0.42 |
| VEOLIA ENVRNMT 0.892% 19-14/01/2024 | 6,800,000.00 | 100.57 | EUR | 6,851,236.06 | 0.15 |
| VESTEDA FINANC 2.5% 15-27/10/2022 | 6,000,000.00 | 100.80 | EUR | 6,111,685.43 | 0.13 |
| VOLKSBANK NV 0.01% 19-16/09/2024 | 7,000,000.00 | 98.50 | EUR | 6,895,433.99 | 0.15 |
| VOLKSWAGEN BANK 1.25% 18-10/06/2024 | 18,000,000.00 | 100.43 | EUR | 18,258,328.68 | 0.39 |
| VOLKSWAGEN BANK 1.875% 19-31/01/2024 | 18,200,000.00 | 101.76 | EUR | 18,576,219.88 | 0.40 |
| VOLKSWAGEN FIN 22-17/01/2024 FRN | 5,000,000.00 | 100.41 | EUR | 5,021,889.03 | 0.11 |
| VOLKSWAGEN LEAS 1% 18-16/02/2023 | 5,000,000.00 | 100.69 | EUR | 5,040,486.41 | 0.11 |
| VOLVO TREAS AB 22-11/01/2024 FRN | 17,000,000.00 | 100.80 | EUR | 17,142,945.07 | 0.37 |
| VOLVO TREAS AB 0% 21-09/05/2024 | 19,768,000.00 | 98.39 | EUR | 19,448,879.25 | 0.42 |
| VONOVIA BV 0.125% 19-06/04/2023 | 16,700,000.00 | 99.93 | EUR | 16,708,901.97 | 0.36 |
| VONOVIA BV 0.875% 18-03/07/2023 | 5,000,000.00 | 100.51 | EUR | 5,057,899.88 | 0.11 |
| VONOVIA FINANCE BV 2.125% 14-09/07/2022 | 2,000,000.00 | 100.61 | EUR | 2,043,147.96 | 0.04 |
| VONOVIA SE 0% 21-01/09/2023 | 7,500,000.00 | 99.53 | EUR | 7,464,962.25 | 0.16 |
| WPP FINANCE 2013 3% 13-20/11/2023 | 4,304,000.00 | 103.88 | EUR | 4,517,206.92 | 0.10 |
| ZIMMER BIOMET 1.414% 16-13/12/2022 | 42,393,000.00 | 100.83 | EUR | 42,924,349.22 | 0.92 |
| Titres d'OPC |  |  |  | 445,014,356.75 | 9.51 |
| OPCVM et FIA à vocation générale destinés aux non professionnels et équivalents d´autres pays Etats membres de l´Union européenne | 445,014,356.75 | 9.51 |
| BNP PARIBAS MONEY 3M-IC | 19,431.998 | 22,901.11 | EUR | 445,014,356.75 | 9.51 |
| Instruments financiers à terme |  |  |  | 5,024,785.91 | 0.11 |
| Futures |  |  |  | 3,290,864.65 | 0.07 |
| EURO-SCHATZ FUTURE 08/06/2022 | -2,409.00 | 110.73 | EUR | 2,939,984.65 | 0.06 |
| SHORT TERM EURO BTP FUTURES 08/06/2022 | -278.00 | 110.97 | EUR | 350,880.00 | 0.01 |
| Appels de marge |  |  |  | -3,290,864.65 | -0.07 |
| Swap de taux |  |  |  | 5,024,785.91 | 0.11 |
| IRS101 | 100,000,000.00 | - | EUR | 290,332.12 | 0.01 |
| IRS102 | 50,000,000.00 | - | EUR | 166,263.63 | - |
| IRS103 | 100,000,000.00 | - | EUR | 335,411.94 | 0.01 |
| IRS104 | 100,000,000.00 | - | EUR | 385,272.50 | 0.01 |
| IRS106 | 50,000,000.00 | - | EUR | 221,445.36 | - |
| IRS107 | 100,000,000.00 | - | EUR | 80,161.15 | - |
| IRS108 | 100,000,000.00 | - | EUR | 88,779.22 | - |
| IRS109 | 100,000,000.00 | - | EUR | 96,110.21 | - |

Inventaire des instruments financiers au 31 Mars 2022
| Eléments d'actifs et libellé des valeurs | Quantité | Cours |  | Devise cotation | Valeur actuelle | % arrondi de l'actif net |
| --- | --- | --- | --- | --- | --- | --- |
| IRS110 | 200,000,000.00 | - | EUR | 195,074.79 | - |
| IRS111 | 50,000,000.00 | - | EUR | 53,546.97 | - |
| IRS113 | 100,000,000.00 | - | EUR | 118,780.25 | - |
| IRS114 | 100,000,000.00 | - | EUR | 118,358.56 | - |
| IRS115 | 100,000,000.00 | - | EUR | 135,589.53 | - |
| IRS116 | 200,000,000.00 | - | EUR | 13,613.94 | - |
| IRS117 | 200,000,000.00 | - | EUR | 11,032.07 | - |
| IRS118 | 300,000,000.00 | - | EUR | 91,919.98 | - |
| IRS119 | 200,000,000.00 | - | EUR | 82,617.86 | - |
| IRS125 | 200,000,000.00 | - | EUR | 75,814.48 | - |
| IRS126 | 300,000,000.00 | - | EUR | 103,766.68 | - |
| IRS127 | 300,000,000.00 | - | EUR | 88,804.45 | - |
| IRS128 | 200,000,000.00 | - | EUR | 108,786.29 | - |
| IRS129 | 200,000,000.00 | - | EUR | 169,848.32 | - |
| IRS130 | 200,000,000.00 | - | EUR | 203,953.07 | - |
| IRS131 | 350,000,000.00 | - | EUR | -1,018.77 | - |
| IRS133 | 250,000,000.00 | - | EUR | 727,199.92 | 0.02 |
| IRS134 | 400,000,000.00 | - | EUR | 438,506.41 | 0.01 |
| IRS135 | 200,000,000.00 | - | EUR | 222,228.40 | - |
| IRS136 | 100,000,000.00 | - | EUR | 136,596.22 | - |
| IRS137 | 100,000,000.00 | - | EUR | 143,950.24 | - |
| IRS138 | 50,000,000.00 | - | EUR | 122,040.12 | - |
| Créances |  |  |  | 454,538,992.78 | 9.71 |
| Dettes |  |  |  | -477,634,975.34 | -10.21 |
| Dépôts |  |  |  | - | - |
| Autres comptes financiers |  |  |  | 189,721,533.26 | 4.05 |
| TOTAL ACTIF NET |  |  | EUR | 4,679,723,641.98 | 100.00 |