# G FUND – Legacy (formerly Legacy 21)
## Board of Directors’ Report
G FUND - Legacy 21 is a feeder fund to the Groupama Axiom Legacy 21 FCP master fund.
As a feeder fund, we have continuously maintained at least 85% of our investment in the "O" units of the Groupama Axiom Legacy 21 master fund.
The table below shows the performance of the G FUND Legacy share classes from 01/03/2021 to 28/02/2022 vs. the benchmark index (see note 4)
| ISIN code | Portfolios | Fund performance over one year | Benchmark performance over one year | Relative performance over one year |
| --- | --- | --- | --- | --- |
| LU1856264152 | G FUND LEGACY IC EUR | -0.53 | 2.45 | -2.98 |
| LU1856264236 | G FUND LEGACY JC EUR | 0.24 | 2.45 | -2.21 |

The fund's performance over the past year is not a reliable indicator of future returns.
| Combined statement of net assets at 28/02/22 |  |  |
| --- | --- | --- |
|  | Note | In EUR |
| Assets |  | 16,741,747.13 |
| Securities portfolio at market value | 2.2 | 15,641,333.30 |
| Cost |  | 15,831,967.17 |
| Cash at bank |  | 1,091,678.49 |
| Receivables from sale of investments |  | 8,735.34 |
| Liabilities |  | 22,962.26 |
| Accrued redemptions |  | 8,709.10 |
| Management fees payable | 3 | 10,368.92 |
| Depositary and sub-depositary fees payable | 5 | 927.64 |
| Administration fees payable | 6 | 506.98 |
| Subscription tax (taxe d’abonnement) payable | 8 | 278.67 |
| Other liabilities |  | 2,170.95 |
| Net asset value |  | 16,718,784.87 |

| Statement of operations and net changes in assets from 01/03/21 to 28/02/22 |
| --- |
|  | Note | In EUR |
| Income |  | 548,452.33 |
| Net dividends on the securities portfolio |  | 548,452.33 |
| Expenses |  | 157,612.16 |
| Management fees | 3 | 127,346.78 |
| Depositary and sub-depositary fees | 5 | 5,236.04 |
| Administration fees | 6 | 3,070.45 |
| Legal expenses |  | 1,504.11 |
| Transaction expenses | 2.17, 7 | 30.28 |
| Director remuneration |  | 122.24 |
| Subscription tax (taxe d’abonnement) | 8 | 1,626.88 |
| Interest paid on bank overdrafts |  | 4,017.44 |
| Other expenses |  | 14,657.94 |
| Net income / (loss) on investments |  | 390,840.17 |
| Net profit / (loss) on: |  |  |
| - sales of investments | 2,3 | 146,144.40 |
| Net profit / (loss) |  | 536,984.57 |
| Change in the net unrealised gain / (loss) on: - sales of investments | 2.2 | (674,821.59) |
| Net increase / (decrease) in net assets from operations |  | (137,837.02) |
| Accumulation share subscriptions |  | 4,511,197.78 |
| Accumulation share redemptions |  | (2,360,310.68) |
| Increase / (decrease) in net assets |  | 2,013,050.08 |
| Net assets at start of year |  | 14,705,734.79 |
| Net assets at end of year |  | 16,718,784.87 |

| Net assets by share class |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  | 28/02/22 | 28/02/21 | 29/02/20 |
| Total net assets | EUR | 16,718,784.87 | 14,705,734.79 | 9,868,485.29 |
| IC EUR shares - Accumulation |  |  |  |  |
| Number of shares |  | 16,535.540 | 14,448.977 | 9,806.709 |
| Net asset value per share | EUR | 1,001.19 | 1,006.48 | 990.06 |
| JC EUR shares - Accumulation Number of shares |  | 160,000 | 160,000 | 160,000 |
| Net asset value per share | EUR | 1,022.11 | 1,019.62 | 995.29 |


## Change in the number of shares outstanding from 01/03/21 to 28/02/22
|  | Number of shares outstanding at | Number of shares | Number of shares | Number of shares outstanding at |
| --- | --- | --- | --- | --- |
|  | 01/03/21 | issued | redeemed | 28/02/22 |
| IC EUR shares - Accumulation | 14,448.977 | 4,386.871 | 2,300.308 | 16,535.540 |
| JC EUR shares - Accumulation | 160,000 | 0,000 | 0,000 | 160,000 |

| Securities portfolio at 28/02/2022 |  |  |  |  |
| --- | --- | --- | --- | --- |
| Name | Curr. | Number of shares | Market value (in EUR) | % of net assets |
| Collective investment undertakings |  |  | 15,641,333.30 | 93.56 |
| Shares/units in investment funds |  |  | 15,641,333.30 | 93.56 |
| France |  |  | 15,641,333.30 | 93.56 |
| GROUPAMA AXIOM LEGACY 21 FCP O | EUR | 15,866 | 15,641,333.30 | 93.56 |
| Total securities portfolio |  |  | 15,641,333.30 | 93.56 |

The appended notes are an integral part of these financial statements.

Translation (ENFR, 2022-02-28):
# G FUND – Legacy (précédemment Legacy 21)
## Rapport du Conseil d'Administration
G Fund Legacy est le fonds nourricier du fonds maître FCP Groupama Axiom Legacy 21.
En tant que fonds nourricier, nous avons maintenu notre investissement à hauteur au moins de 85% et en permanence dans les parts « O » du fonds maître FCP Groupama Axiom Legacy 21.
Ci-après, la performance par parts entre le 01/03/2021 et le 28/02/2022 de l’OPCVM G FUND Legacy contre son indice de référence (voir note 4)
| Code isin | Portefeuilles | Performance OPCVM 1 an | Performance indicateur de référence 1 an | Performance relative 1 an |
| --- | --- | --- | --- | --- |
| LU1856264152 | G FUND LEGACY IC EUR | -0,53 | 2,45 | -2,98 |
| LU1856264236 | G FUND LEGACY JC EUR | 0,24 | 2,45 | -2,21 |

La performance obtenue sur la période ne préjuge pas des résultats futurs de l’OPCVM.
| Etat des actifs nets au 28/02/22 |  |
| --- | --- |
|  | Note | Exprimé en EUR |
| Actifs |  | 16.741.747,13 |
| Portefeuille-titres à la valeur d'évaluation | 2.2 | 15.641.333,30 |
| Prix de revient |  | 15.831.967,17 |
| Avoirs en banque |  | 1.091.678,49 |
| A recevoir pour investissements vendus |  | 8.735,34 |
| Passifs |  | 22.962,26 |
| A payer sur rachats |  | 8.709,10 |
| Commissions de gestion à payer | 3 | 10.368,92 |
| Commissions de dépositaire et de sous-dépositaire à payer | 5 | 927,64 |
| Commissions d'administration à payer | 6 | 506,98 |
| Taxe d'abonnement à payer | 8 | 278,67 |
| Autres passifs |  | 2.170,95 |
| Valeur nette d'inventaire |  | 16.718.784,87 |

| Etat des opérations et des variations des actifs nets du 01/03/21 au 28/02/22 |  |
| --- | --- |
|  | Note | Exprimé en EUR |
| Revenus |  | 548.452,33 |
| Dividendes sur portefeuille-titres, nets |  | 548.452,33 |
| Dépenses |  | 157.612,16 |
| Commissions de gestion | 3 | 127.346,78 |
| Commissions de dépositaire et de sous-dépositaire | 5 | 5.236,04 |
| Commissions d'administration | 6 | 3.070,45 |
| Frais légaux |  | 1.504,11 |
| Frais de transaction | 2.17, 7 | 30,28 |
| Rémunération administrateurs |  | 122,24 |
| Taxe d'abonnement | 8 | 1.626,88 |
| Intérêts payés sur découvert bancaire |  | 4.017,44 |
| Autres dépenses |  | 14.657,94 |
| Revenus / (Pertes) net(te)s des investissements |  | 390.840,17 |
| Bénéfices / (Pertes) net(te)s réalisé(e)s sur: |  |  |
| - ventes d'investissements | 2.3 | 146.144,40 |
| Bénéfice / (Perte) net(te) réalisé(e) |  | 536.984,57 |
| Variation de la plus-value / (moins-value) nette non réalisée sur: - ventes d’investissements | 2.2 | (674.821,59) |
| Augmentation / (diminution) nette des actifs nets provenant des opérations |  | (137.837,02) |
| Souscriptions d'actions de capitalisation |  | 4.511.197,78 |
| Rachats d'actions de capitalisation |  | (2.360.310,68) |
| Augmentation / (diminution) des actifs nets |  | 2.013.050,08 |
| Actifs nets début de l'exercice |  | 14.705.734,79 |
| Actifs nets à la fin de l'exercice |  | 16.718.784,87 |

| Statistiques |  |
| --- | --- |
|  |  | 28/02/22 | 28/02/21 | 29/02/20 |
| Total des actifs nets | EUR | 16.718.784,87 | 14.705.734,79 | 9.868.485,29 |
| Classe IC EUR - Capitalisation |  |  |  |  |
| Nombre d'actions |  | 16.535,540 | 14.448,977 | 9.806,709 |
| Valeur nette d'inventaire par action | EUR | 1.001,19 | 1.006,48 | 990,06 |
| Classe JC EUR - Capitalisation Nombre d'actions |  | 160,000 | 160,000 | 160,000 |
| Valeur nette d'inventaire par action | EUR | 1.022,11 | 1.019,62 | 995,29 |


## Changement dans le nombre d'actions en circulation du 01/03/21 au 28/02/22
|  | Nombre d'actions en circulation au | Nombre d'actions | Nombre d'actions | Nombre d'actions en circulation au |
| --- | --- | --- | --- | --- |
| 01/03/21 | émises | rachetées | 28/02/22 |
| Classe IC EUR - Capitalisation | 14.448,977 | 4.386,871 | 2.300,308 | 16.535,540 |
| Classe JC EUR - Capitalisation | 160,000 | 0,000 | 0,000 | 160,000 |

| Portefeuille-titres au 28/02/22 |  |
| --- | --- |
| Description | Devise | Quantité | Valeur d'évaluation (en EUR) | % actifs nets |
| Organismes de placement collectif |  |  | 15.641.333,30 | 93,56 |
| Actions/Parts de fonds d'investissements |  |  | 15.641.333,30 | 93,56 |
| France |  |  | 15.641.333,30 | 93,56 |
| GROUPAMA AXIOM LEGACY 21 FCP O | EUR | 15.866 | 15.641.333,30 | 93,56 |
| Total du portefeuille-titres |  |  | 15.641.333,30 | 93,56 |

Les notes en annexe font partie intégrante de ces états financiers