# COMPOSITION OF THE ASSETS
| Description | Quantity at 31 December 2019 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Transferable securities admitted to an official stock exchange listing |  |  |  |  |  |  |  |
| Shares |  |  |  |  |  |  |
| Australia |  |  |  |  |  |  |
| AGL ENERGY LTD | 13,685 | AUD | 20.53 | 175,942.04 | 0.29% | 0.29% |
| ALUMINA | 43,481 | AUD | 2.30 | 62,627.23 | 0.10% | 0.10% |
| AMP | 71,324 | AUD | 1.91 | 85,534.31 | 0.14% | 0.14% |
| ANZ BANKING GROUP | 57,300 | AUD | 24.63 | 883,801.86 | 1.47% | 1.47% |
| APA GRP | 22,119 | AUD | 11.10 | 153,753.26 | 0.26% | 0.26% |
| ARISTOCRAT LEISURE | 11,020 | AUD | 33.67 | 232,359.58 | 0.39% | 0.39% |
| ASX LIMITED | 3,738 | AUD | 78.41 | 183,546.72 | 0.31% | 0.31% |
| AURIZON HOLDINGS | 42,346 | AUD | 5.23 | 138,691.54 | 0.23% | 0.23% |
| AUSNET SVCS | 40,265 | AUD | 1.70 | 42,865.95 | 0.07% | 0.07% |
| BENDIGO ADELAIDE BK | 9,096 | AUD | 9.78 | 55,708.98 | 0.09% | 0.09% |
| BHP GROUP LIMITED | 58,523 | AUD | 38.92 | 1,426,380.16 | 2.38% | 2.38% |
| BHP STEEL | 9,500 | AUD | 15.06 | 89,595.14 | 0.15% | 0.15% |
| BORAL | 24,160 | AUD | 4.48 | 67,781.44 | 0.11% | 0.11% |
| BRAMBLES | 32,127 | AUD | 11.72 | 235,794.50 | 0.39% | 0.39% |
| CALTEX AUSTRALIA | 5,000 | AUD | 33.95 | 106,303.03 | 0.18% | 0.18% |
| CHALLENGER FIN SERV | 12,987 | AUD | 8.09 | 65,795.05 | 0.11% | 0.11% |
| CIMIC GROUP | 2,177 | AUD | 33.14 | 45,180.06 | 0.08% | 0.08% |
| COCA COLA AMATIL | 10,885 | AUD | 11.06 | 75,390.99 | 0.13% | 0.13% |
| COCHLEAR | 1,191 | AUD | 224.73 | 167,613.38 | 0.28% | 0.28% |
| COLES GRP | 22,775 | AUD | 14.84 | 211,654.82 | 0.35% | 0.35% |
| COMMONWEALTH BANK | 35,323 | AUD | 79.90 | 1,767,421.92 | 2.95% | 2.94% |
| COMPUTERSHARE | 10,564 | AUD | 16.78 | 111,008.50 | 0.19% | 0.18% |
| CROWN LTD | 6,649 | AUD | 12.01 | 50,007.51 | 0.08% | 0.08% |
| CSL | 9,044 | AUD | 275.76 | 1,561,808.21 | 2.60% | 2.60% |
| DEXUS | 24,076 | AUD | 11.70 | 176,403.04 | 0.29% | 0.29% |
| FLIGHT CENTRE | 1,748 | AUD | 44.06 | 48,230.50 | 0.08% | 0.08% |
| FORTESCUE METALS | 24,777 | AUD | 10.69 | 165,867.88 | 0.28% | 0.28% |
| GOODMAN GROUP | 30,643 | AUD | 13.37 | 256,565.68 | 0.43% | 0.43% |
| GPT GRP | 38,273 | AUD | 5.60 | 134,219.75 | 0.22% | 0.22% |
| HARVEY NORMAN HLDG | 11,650 | AUD | 4.07 | 29,693.15 | 0.05% | 0.05% |
| INCITEC PIVOT | 27,332 | AUD | 3.18 | 54,429.51 | 0.09% | 0.09% |
| INSURANCE AUSTRALIA | 48,362 | AUD | 7.66 | 231,989.80 | 0.39% | 0.39% |
| LEND LEASE | 11,713 | AUD | 17.60 | 129,097.16 | 0.22% | 0.22% |
| MACQUARIE GRP | 6,570 | AUD | 137.85 | 567,163.16 | 0.95% | 0.95% |
| MAGELLAN FINANCIAL | 2,000 | AUD | 56.95 | 71,327.93 | 0.12% | 0.12% |
| MEDIBANK PRIVATE LTD | 56,300 | AUD | 3.16 | 111,411.84 | 0.19% | 0.19% |
| MIRVAC GROUP | 83,136 | AUD | 3.18 | 165,558.74 | 0.28% | 0.28% |
| NATIONAL AUSTRAL. BK | 57,000 | AUD | 24.63 | 879,174.63 | 1.47% | 1.46% |
| NEWCREST MINING LTD | 16,658 | AUD | 30.25 | 315,561.57 | 0.53% | 0.53% |
| ORICA | 8,440 | AUD | 21.98 | 116,173.22 | 0.19% | 0.19% |
| ORIGIN ENERGY | 37,374 | AUD | 8.45 | 197,770.80 | 0.33% | 0.33% |
| QANTAS AIRWAYS | 15,000 | AUD | 7.11 | 66,787.74 | 0.11% | 0.11% |
| QBE INSURANCE GROUP | 26,160 | AUD | 12.88 | 211,003.41 | 0.35% | 0.35% |
| RAMSAY HEALTH CARE | 3,411 | AUD | 72.53 | 154,929.91 | 0.26% | 0.26% |
| REA GROUP | 937 | AUD | 103.60 | 60,790.43 | 0.10% | 0.10% |
| RIO TINTO | 7,567 | AUD | 100.40 | 475,765.91 | 0.79% | 0.79% |
| SANTOS | 33,603 | AUD | 8.18 | 172,134.23 | 0.29% | 0.29% |
| SCENTRE GROUP | 103,038 | AUD | 3.83 | 247,133.76 | 0.41% | 0.41% |
| SEEK LTD | 6,238 | AUD | 22.55 | 88,090.24 | 0.15% | 0.15% |
| SONIC HEALTHCARE | 9,756 | AUD | 28.75 | 175,648.93 | 0.29% | 0.29% |
| SOUTH32 | 105,942 | AUD | 2.70 | 179,129.79 | 0.30% | 0.30% |
| STOCKLAND STAPLED | 50,879 | AUD | 4.62 | 147,202.92 | 0.25% | 0.25% |
| SUNCORP GROUP LTD | 23,933 | AUD | 12.96 | 194,239.71 | 0.32% | 0.32% |
| SYDNEY AIRPORT | 21,007 | AUD | 8.66 | 113,924.68 | 0.19% | 0.19% |
| TABCORP HOLDINGS | 41,858 | AUD | 4.53 | 118,744.24 | 0.20% | 0.20% |
| TELSTRA | 82,162 | AUD | 3.54 | 182,142.02 | 0.30% | 0.30% |
| TPG TELECOM LTD | 10,230 | AUD | 6.71 | 42,986.69 | 0.07% | 0.07% |
| TRANSURBAN GROUP | 53,019 | AUD | 14.91 | 495,045.43 | 0.83% | 0.82% |
| TREASURY WINE | 14,056 | AUD | 16.24 | 142,949.83 | 0.24% | 0.24% |
| VICINITY CENTRES | 66,946 | AUD | 2.49 | 104,390.23 | 0.17% | 0.17% |
| W.H.SOUL PATTINS | 3,300 | AUD | 21.50 | 44,431.22 | 0.07% | 0.07% |

| Description | Quantity at 31 December 2019 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| WESTFARMERS | 22,405 | AUD | 41.40 | 580,872.97 |  | 0.97% | 0.97% |
| WESTPAC | 70,900 | AUD | 24.23 | 1,075,809.88 | 1.79% | 1.79% |
| WISETECH GL | 2,900 | AUD | 23.37 | 42,441.68 | 0.07% | 0.07% |
| WOODSIDE PETROLEUM | 18,758 | AUD | 34.38 | 403,857.62 | 0.67% | 0.67% |
| WOOLWORTHS GROUP LTD | 25,200 | AUD | 36.16 | 570,643.45 | 0.95% | 0.95% |
| WORLEY LTD | 7,303 | AUD | 15.31 | 70,018.43 | 0.12% | 0.12% |
| Bermuda |  |  |  | 17,808,319.89 |  | 29.70% | 29.67% |
| CK INFRASTRUCTURE | 11,500 | HKD | 55.45 | 72,907.97 | 0.12% | 0.12% |
| DAIRY FARM INTL | 9,600 | USD | 5.71 | 48,833.85 | 0.08% | 0.08% |
| HONGKONG LAND HLDGS | 23,100 | USD | 5.75 | 118,329.62 | 0.20% | 0.20% |
| JARDINE | 4,600 | USD | 55.60 | 227,848.55 | 0.38% | 0.38% |
| JARDINE STRATEGIC | 4,900 | USD | 30.65 | 133,795.10 | 0.22% | 0.22% |
| KERRY PROPERTIES | 14,000 | HKD | 24.75 | 39,616.75 | 0.07% | 0.07% |
| NWS HLDGS | 36,390 | HKD | 10.92 | 45,433.93 | 0.08% | 0.08% |
| YUE YUEN INDUSTRIAL | 16,000 | HKD | 23.00 | 42,074.93 | 0.07% | 0.07% |
| Canada |  |  |  | 728,840.70 |  | 1.22% | 1.21% |
| 1ST QUANTUM MINLS | 15,071 | CAD | 13.17 | 136,359.62 | 0.23% | 0.23% |
| AGNICO EAGLE MINES | 4,800 | CAD | 79.98 | 263,742.79 | 0.44% | 0.44% |
| AIR CANADA VTG | 2,900 | CAD | 48.51 | 96,646.74 | 0.16% | 0.16% |
| ALGONQUIN POWER | 10,300 | CAD | 18.37 | 129,988.32 | 0.22% | 0.22% |
| ALIMENTATION COUCHE | 17,000 | CAD | 41.21 | 481,292.94 | 0.80% | 0.80% |
| ALTAGAS LTD | 5,800 | CAD | 19.78 | 78,815.61 | 0.13% | 0.13% |
| ATCO NON VTG | 1,800 | CAD | 49.77 | 61,545.75 | 0.10% | 0.10% |
| AURORA CANNABIS | 14,000 | CAD | 2.79 | 26,834.30 | 0.04% | 0.04% |
| BANK OF NOVA SCOTIA | 24,400 | CAD | 73.35 | 1,229,554.82 | 2.05% | 2.05% |
| BARRICK | 36,233 | CAD | 24.12 | 600,398.43 | 1.00% | 1.00% |
| BAUSCH HEALTH CIES | 6,150 | CAD | 38.87 | 164,228.15 | 0.27% | 0.27% |
| BCE | 2,900 | CAD | 60.16 | 119,857.10 | 0.20% | 0.20% |
| BLACKBERRY LTD | 10,690 | CAD | 8.35 | 61,322.82 | 0.10% | 0.10% |
| BOMBARDIER-B- | 45,452 | CAD | 1.93 | 60,265.43 | 0.10% | 0.10% |
| BROOKFIELD ASSET MAN | 18,005 | CAD | 75.03 | 928,081.31 | 1.55% | 1.55% |
| CAE | 5,585 | CAD | 34.38 | 131,912.82 | 0.22% | 0.22% |
| CAMECO | 8,890 | CAD | 11.54 | 70,479.94 | 0.12% | 0.12% |
| CANADIAN APARTMENT | 2,000 | CAD | 53.01 | 72,835.94 | 0.12% | 0.12% |
| CANADIAN IMPERIAL | 8,766 | CAD | 108.06 | 650,765.29 | 1.09% | 1.08% |
| CANADIAN NAT RAILWAY | 14,150 | CAD | 117.47 | 1,141,934.94 | 1.90% | 1.90% |
| CANADIAN NAT RES LTD | 23,600 | CAD | 42.00 | 680,956.31 | 1.14% | 1.13% |
| CANADIAN TIRE CORP | 1,150 | CAD | 139.75 | 110,409.80 | 0.18% | 0.18% |
| CANADIAN UTILITIES | 2,756 | CAD | 39.17 | 74,163.59 | 0.12% | 0.12% |
| CANOPY GROWTH | 4,200 | CAD | 27.31 | 78,800.49 | 0.13% | 0.13% |
| CCL INDUSTRIES B | 3,150 | CAD | 55.32 | 119,715.58 | 0.20% | 0.20% |
| CDN PACIFIC RAILWAY | 2,850 | CAD | 331.03 | 648,142.00 | 1.08% | 1.08% |
| CENOVUS ENERGY INC | 22,339 | CAD | 13.20 | 202,579.55 | 0.34% | 0.34% |
| CGI INC | 5,000 | CAD | 108.67 | 373,282.50 | 0.62% | 0.62% |
| CI FINANCIAL CORP | 5,200 | CAD | 21.71 | 77,557.02 | 0.13% | 0.13% |
| CONSTELLATION SOFTW | 410 | CAD | 1,261.16 | 355,231.93 | 0.59% | 0.59% |
| CRONOS GROUP | 4,500 | USD | 7.68 | 30,788.02 | 0.05% | 0.05% |
| DOLLARAMA | 5,900 | CAD | 44.63 | 180,899.29 | 0.30% | 0.30% |
| EMERA | 5,100 | CAD | 55.79 | 195,471.97 | 0.33% | 0.33% |
| EMPIRE CO LTD | 3,909 | CAD | 30.46 | 81,800.04 | 0.14% | 0.14% |
| ENBRIDGE | 40,100 | CAD | 51.63 | 1,422,343.36 | 2.37% | 2.37% |
| ENCANA | 26,039 | CAD | 6.08 | 108,764.17 | 0.18% | 0.18% |
| FAIRFAX FINANCIAL | 560 | CAD | 609.74 | 234,579.83 | 0.39% | 0.39% |
| FIRST CAP REALTY | 3,500 | CAD | 20.67 | 49,701.15 | 0.08% | 0.08% |
| FORTIS | 8,944 | CAD | 53.88 | 331,068.10 | 0.55% | 0.55% |
| FRANCO-NEVADA | 3,652 | CAD | 134.09 | 336,422.56 | 0.56% | 0.56% |
| GEORGE WESTON | 1,402 | CAD | 103.02 | 99,226.46 | 0.17% | 0.17% |
| GILDAN ACTIVEWEAR | 3,536 | CAD | 38.39 | 93,258.48 | 0.16% | 0.16% |
| GREAT WEST LIFECO | 6,219 | CAD | 33.26 | 142,102.18 | 0.24% | 0.24% |
| HR REIT INVEST | 2,900 | CAD | 21.10 | 42,037.65 | 0.07% | 0.07% |
| HUSKY ENERGY | 6,353 | CAD | 10.42 | 45,478.33 | 0.08% | 0.08% |
| HYDRO ONE | 6,100 | CAD | 25.08 | 105,103.05 | 0.18% | 0.18% |
| IA FINANCIAL CORP | 1,977 | CAD | 71.33 | 96,880.61 | 0.16% | 0.16% |
| IGM FINANCIAL INC | 1,700 | CAD | 37.28 | 43,539.43 | 0.07% | 0.07% |
| IMPERIAL OIL | 4,981 | CAD | 34.35 | 117,544.21 | 0.20% | 0.20% |

| Description | Quantity at 31 December 2019 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| INTACT FINANCIAL | 2,900 | CAD | 140.42 | 279,759.55 |  | 0.47% | 0.47% |
| INTER PIPELINE LTD | 8,800 | CAD | 22.54 | 136,268.21 | 0.23% | 0.23% |
| KEYERA | 4,200 | CAD | 34.02 | 98,161.58 | 0.16% | 0.16% |
| KINROSS GOLD | 27,968 | CAD | 6.16 | 118,358.67 | 0.20% | 0.20% |
| KIRKLAND LAKE GOLD | 3,800 | CAD | 57.24 | 149,431.16 | 0.25% | 0.25% |
| LOBLAW COMPANIES | 3,919 | CAD | 67.00 | 180,388.16 | 0.30% | 0.30% |
| LUNDIN MINING | 12,900 | CAD | 7.76 | 68,771.64 | 0.11% | 0.11% |
| MAGNA INTERNATIONAL | 5,896 | CAD | 71.20 | 288,400.11 | 0.48% | 0.48% |
| MANULIFE FINANCIAL | 38,786 | CAD | 26.36 | 702,390.05 | 1.17% | 1.17% |
| METHANEX | 1,330 | CAD | 50.15 | 45,822.68 | 0.08% | 0.08% |
| METRO INC | 5,071 | CAD | 53.59 | 186,696.13 | 0.31% | 0.31% |
| MONTREAL | 12,850 | CAD | 100.64 | 888,447.38 | 1.48% | 1.48% |
| NATIONAL BANK CANADA | 6,550 | CAD | 72.08 | 324,350.10 | 0.54% | 0.54% |
| NUTRIEN LTD | 11,326 | CAD | 62.17 | 483,743.76 | 0.81% | 0.81% |
| ONEX CORP | 1,750 | CAD | 82.17 | 98,789.16 | 0.16% | 0.16% |
| OPEN TEXT | 5,124 | CAD | 57.22 | 201,425.72 | 0.34% | 0.34% |
| PARKLAND FUEL | 2,700 | CAD | 47.71 | 88,497.53 | 0.15% | 0.15% |
| PEMBINA PIPELINE | 10,644 | CAD | 48.13 | 351,948.15 | 0.59% | 0.59% |
| POWER | 5,900 | CAD | 33.45 | 135,583.26 | 0.23% | 0.23% |
| POWER FINANCIAL | 5,325 | CAD | 34.94 | 127,820.49 | 0.21% | 0.21% |
| PRAIRIESKY ROYALTY | 3,846 | CAD | 15.23 | 40,240.85 | 0.07% | 0.07% |
| QUEBECOR INC -B- | 3,300 | CAD | 33.14 | 75,131.90 | 0.13% | 0.13% |
| RESTAURANT BRANDS | 5,576 | USD | 63.77 | 316,776.41 | 0.53% | 0.53% |
| RIOCAN REAL ESTATE | 2,672 | CAD | 26.76 | 49,122.51 | 0.08% | 0.08% |
| ROGERS COMMUNICATION | 6,905 | CAD | 64.48 | 305,876.89 | 0.51% | 0.51% |
| ROYAL BANK CANADA | 28,789 | CAD | 102.75 | 2,032,199.61 | 3.39% | 3.39% |
| SAPUTO | 5,100 | CAD | 40.20 | 140,849.13 | 0.23% | 0.23% |
| SHAW COMM | 10,000 | CAD | 26.35 | 181,025.01 | 0.30% | 0.30% |
| SHOPIFY SVTG-A | 2,000 | USD | 397.58 | 708,383.07 | 1.18% | 1.18% |
| SMART REIT | 1,300 | CAD | 31.21 | 27,873.73 | 0.05% | 0.05% |
| SUNCOR ENERGY INC | 31,754 | USD | 32.80 | 927,867.44 | 1.55% | 1.55% |
| SUN LIFE FINANCIAL | 11,538 | CAD | 59.21 | 469,335.66 | 0.78% | 0.78% |
| TC ENERGY CORP | 18,450 | CAD | 69.16 | 876,615.83 | 1.46% | 1.46% |
| TECK RESOURCES B LTD | 10,179 | CAD | 22.52 | 157,482.19 | 0.26% | 0.26% |
| TELUS CORP | 4,100 | CAD | 50.28 | 141,624.07 | 0.24% | 0.24% |
| THE STARS GROUP | 5,000 | CAD | 33.89 | 116,412.48 | 0.19% | 0.19% |
| THOMSON REUTERS CORP | 3,905 | CAD | 92.89 | 249,199.95 | 0.42% | 0.42% |
| TORONTO DOMINION BK | 36,850 | CAD | 72.83 | 1,843,765.80 | 3.08% | 3.07% |
| WEST FRASER TIMBER | 900 | CAD | 57.28 | 35,416.32 | 0.06% | 0.06% |
| WHEATON PRECIOUS MET | 8,829 | CAD | 38.64 | 234,372.46 | 0.39% | 0.39% |
| WSP GLOBAL | 2,100 | CAD | 88.67 | 127,924.57 | 0.21% | 0.21% |
| Hongkong |  |  |  | 26,997,260.09 |  | 45.03% | 44.98% |
| AIA GROUP LTD | 241,200 | HKD | 81.80 | 2,255,829.32 | 3.76% | 3.76% |
| BANK OF EAST ASIA | 24,010 | HKD | 17.40 | 47,765.80 | 0.08% | 0.08% |
| BOC HONG KONG | 78,106 | HKD | 27.05 | 241,561.27 | 0.40% | 0.40% |
| CLP HOLDINGS | 32,997 | HKD | 81.90 | 308,982.58 | 0.52% | 0.51% |
| GALAXY ENTERTAINMENT | 43,000 | HKD | 57.40 | 282,199.33 | 0.47% | 0.47% |
| HANG LUNG PROP | 38,169 | HKD | 17.10 | 74,624.69 | 0.12% | 0.12% |
| HANG SENG BANK | 14,700 | HKD | 161.00 | 270,594.42 | 0.45% | 0.45% |
| HENDERSON LAND DEV | 30,901 | HKD | 38.25 | 135,138.66 | 0.23% | 0.23% |
| HK CHINA GAS | 198,441 | HKD | 15.22 | 345,319.97 | 0.58% | 0.58% |
| HK ELECTRIC INVEST | 58,500 | HKD | 7.68 | 51,368.01 | 0.09% | 0.09% |
| HONG KONG EXCH CLEAR | 24,391 | HKD | 253.00 | 705,546.69 | 1.18% | 1.18% |
| LINK REIT | 43,000 | HKD | 82.50 | 405,600.08 | 0.68% | 0.68% |
| MTR CORP | 31,871 | HKD | 46.05 | 167,803.48 | 0.28% | 0.28% |
| NEW WORLD DEV CO | 126,619 | HKD | 10.68 | 154,612.91 | 0.26% | 0.26% |
| PCCW NEW | 83,000 | HKD | 4.61 | 43,747.64 | 0.07% | 0.07% |
| POWER ASSETS HLDGS | 28,400 | HKD | 57.00 | 185,083.98 | 0.31% | 0.31% |
| SINO LAND CO | 53,531 | HKD | 11.32 | 69,283.12 | 0.12% | 0.12% |
| SJM HOLDINGS LTD | 46,000 | HKD | 8.87 | 46,650.58 | 0.08% | 0.08% |
| SUN HUNG KAI PROP | 32,300 | HKD | 119.30 | 440,573.73 | 0.73% | 0.73% |
| SWIRE PACIFIC | 10,998 | HKD | 72.40 | 91,039.09 | 0.15% | 0.15% |
| SWIRE PROPERTIES | 25,800 | HKD | 25.85 | 76,252.82 | 0.13% | 0.13% |
| TECHTRONIC INDUSTRIE | 29,000 | HKD | 63.55 | 210,711.96 | 0.35% | 0.35% |
| VITASOY INTL HOLDING | 14,000 | HKD | 28.25 | 45,219.12 | 0.08% | 0.08% |
| WHEELOCK AND COMPANY | 16,000 | HKD | 51.95 | 95,034.47 | 0.16% | 0.16% |
|  |  |  |  | 6,750,543.72 |  | 11.26% | 11.25% |

| Description | Quantity at 31 December 2019 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Ireland |  |  |  | 149,817.50 |  | 0.25% | 0.25% |
| JAMES HARDIES IND | 8,584 | AUD | 27.87 |
| Israel |  |  |  | 149,817.50 |  | 0.25% | 0.25% |
| AZRIELI GROUP | 868 | ILS | 252.50 | 56,529.36 | 0.09% | 0.09% |
| BANK HAPOALIM B.M | 23,649 | ILS | 28.65 | 174,755.32 | 0.29% | 0.29% |
| BANK LEUMI LE-ISRAEL | 31,530 | ILS | 25.14 | 204,447.71 | 0.34% | 0.34% |
| CHECK POINT | 2,400 | USD | 110.96 | 237,241.87 | 0.40% | 0.40% |
| CYBER-ARK SOFTWARE | 800 | USD | 116.58 | 83,085.97 | 0.14% | 0.14% |
| ISRAEL CHEMICALS LTD | 12,721 | ILS | 16.25 | 53,317.23 | 0.09% | 0.09% |
| ISRAEL DISCOUNT BANK | 25,000 | ILS | 16.01 | 103,234.38 | 0.17% | 0.17% |
| MIZRAHI TEFAHOT BANK | 2,560 | ILS | 92.00 | 60,746.43 | 0.10% | 0.10% |
| NICE SYSTEMS | 1,181 | ILS | 535.60 | 163,148.64 | 0.27% | 0.27% |
| TEVA-ADR- | 21,100 | USD | 9.80 | 184,213.81 | 0.31% | 0.31% |
| WIX.COM LTD | 1,000 | USD | 122.38 | 109,024.50 | 0.18% | 0.18% |
| Cayman |  |  |  | 1,429,745.22 |  | 2.38% | 2.38% |
| ASM PACIFIC TECHNO | 5,900 | HKD | 108.10 | 72,921.12 | 0.12% | 0.12% |
| BEIGENE LTD | 700 | USD | 165.76 | 103,369.27 | 0.17% | 0.17% |
| BUDWEISER BREWING CO | 25,000 | HKD | 26.30 | 75,174.65 | 0.13% | 0.13% |
| CK ASSET HL | 51,178 | HKD | 56.25 | 329,140.61 | 0.55% | 0.55% |
| CK HUTCHISON HLDGS | 55,178 | HKD | 74.30 | 468,738.26 | 0.78% | 0.78% |
| HKT LTD | 80,922 | HKD | 10.98 | 101,588.51 | 0.17% | 0.17% |
| MELCO CROWN ADR | 4,400 | USD | 24.17 | 94,742.09 | 0.16% | 0.16% |
| SANDS CHINA REG S | 46,600 | HKD | 41.65 | 221,909.84 | 0.37% | 0.37% |
| WHARF REIC | 23,758 | HKD | 47.55 | 129,162.38 | 0.22% | 0.22% |
| WH GRP-144A-S | 182,500 | HKD | 8.05 | 167,971.03 | 0.28% | 0.28% |
| WYNN MACAU | 28,000 | HKD | 19.20 | 61,465.99 | 0.10% | 0.10% |
| New Zealand |  |  |  | 1,826,183.75 |  | 3.05% | 3.04% |
| A2 MILK COMPANY LTD | 15,500 | AUD | 14.30 | 138,804.52 | 0.23% | 0.23% |
| AUCKLD INTL AIRP | 20,920 | NZD | 8.75 | 110,015.93 | 0.18% | 0.18% |
| FISH PAYK HEALTH | 10,522 | NZD | 22.20 | 140,390.30 | 0.23% | 0.23% |
| FLETCHER BUILDING | 19,081 | NZD | 5.09 | 58,372.02 | 0.10% | 0.10% |
| MERCURY NZ | 10,000 | NZD | 5.05 | 30,351.29 | 0.05% | 0.05% |
| MERIDIAN ENERGY LTD | 28,539 | NZD | 5.00 | 85,761.94 | 0.14% | 0.14% |
| RYMAN HEALTHCAR | 8,773 | NZD | 16.33 | 86,103.37 | 0.14% | 0.14% |
| SPARK NEW ZEALAND | 39,570 | NZD | 4.33 | 102,976.89 | 0.17% | 0.17% |
| Papua New Guinea |  |  |  | 752,776.26 |  | 1.26% | 1.25% |
| OIL SEARCH LTD | 26,000 | AUD | 7.25 | 118,044.90 | 0.20% | 0.20% |
| Singapore |  |  |  | 118,044.90 |  | 0.20% | 0.20% |
| ASCENDAS REIT | 54,520 | SGD | 2.97 | 107,280.88 | 0.18% | 0.18% |
| CAPITALAND | 51,104 | SGD | 3.75 | 126,968.56 | 0.21% | 0.21% |
| CAPITAL COMMERCIAL | 60,546 | SGD | 1.99 | 79,826.77 | 0.13% | 0.13% |
| CITY DEVELOPMENTS | 8,600 | SGD | 10.95 | 62,391.10 | 0.10% | 0.10% |
| CONMFORTDELGRO CORP | 45,600 | SGD | 2.38 | 71,903.80 | 0.12% | 0.12% |
| DBS GROUP HOLD | 36,073 | SGD | 25.88 | 618,524.03 | 1.03% | 1.03% |
| GENTING SINGAPORE | 127,085 | SGD | 0.92 | 77,462.62 | 0.13% | 0.13% |
| JARDINE CYCLE CAR | 1,770 | SGD | 30.10 | 35,297.98 | 0.06% | 0.06% |
| KEPPEL | 29,097 | SGD | 6.77 | 130,510.94 | 0.22% | 0.22% |
| MAPLETREE COMMERCIAL | 33,000 | SGD | 2.39 | 52,254.28 | 0.09% | 0.09% |
| OVERSEA-CHINESE BK | 64,641 | SGD | 10.98 | 470,240.95 | 0.78% | 0.78% |
| SATS LTD | 13,500 | SGD | 5.06 | 45,257.89 | 0.08% | 0.08% |
| SEMBCORP INDU | 22,200 | SGD | 2.29 | 33,682.05 | 0.06% | 0.06% |
| SINGAPORE AIRLINES | 10,370 | SGD | 9.04 | 62,109.38 | 0.10% | 0.10% |
| SINGAPORE EXCHANGE | 13,000 | SGD | 8.86 | 76,310.99 | 0.13% | 0.13% |
| SINGAPORE PRESS-NEW | 36,700 | SGD | 2.18 | 53,006.92 | 0.09% | 0.09% |

| Description | Quantity at 31 December 2019 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SINGAPORE TECHNO | 36,300 | SGD | 3.94 | 94,757.35 |  | 0.16% | 0.16% |
| SINGAP TELECOM 1000 | 164,522 | SGD | 3.37 | 367,336.36 | 0.61% | 0.61% |
| SUNTEC REIT | 27,500 | SGD | 1.84 | 33,524.36 | 0.06% | 0.06% |
| UNITED OVERSEAS BANK | 25,741 | SGD | 26.41 | 450,405.68 | 0.75% | 0.75% |
| UOL GROUP | 11,400 | SGD | 8.32 | 62,840.30 | 0.10% | 0.10% |
| VENTURE CORPO | 6,000 | SGD | 16.20 | 64,398.58 | 0.11% | 0.11% |
| WILMAR INTL LTD | 35,278 | SGD | 4.12 | 96,296.66 | 0.16% | 0.16% |
| YANGZIJIANG SHIPBUIL | 52,600 | SGD | 1.12 | 39,031.37 | 0.07% | 0.07% |
|  |  |  |  | 3,311,619.80 |  | 5.52% | 5.52% |
| Total - Shares |  |  |  | 59,873,151.83 | 99.86% | 99.76% |
| UCI with variable number of shares |  |  |  |  |  |  |
| Real estate |  |  |  |  |  |  |
| Non Directive 2009/65/CE - Non FSMA |  |  |  |  |  |  |
| CAPITAMALL TRUST | 50,300 | SGD | 2.46 | 81,980.99 | 0.14% | 0.14% |
| Total - Non Directive 2009/65/CE - Non FSMA |  |  |  | 81,980.99 | 0.14% | 0.14% |
| Total - Real estate |  |  |  | 81,980.99 | 0.14% | 0.14% |
| Total - UCI with variable number of shares |  |  |  | 81,980.99 | 0.14% | 0.14% |
| Total - Transferable securities admitted to an official stock exchange listing |  |  |  | 59,955,132.82 | 100.00% | 99.90% |
| Total - portfolio |  |  |  | 59,955,132.82 | 100.00% | 99.90% |
| Collatéral |  |  |  | 0.00 |  | 0.00% |
| Deposits and liquid assets |  |  |  |  |  |  |
| deposit and liquid assets |  |  |  |  |  |  |
| Intérêts sur CC |  | NZD |  | 0.48 |  | 0.00% |
| Intérêts sur CC Chg. |  | CHF |  | 0.01 |  | 0.00% |
| Intérêts sur CC Chg. |  | SGD |  | 0.01 |  | 0.00% |
| Intérêts sur CC |  | CAD |  | 27.78 |  | 0.00% |
| Intérêts sur CC |  | HKD |  | 7.99 |  | 0.00% |
| Intérêts sur CC Chg. |  | CAD |  | 0.10 |  | 0.00% |
| Intérêts sur CC Chg. |  | USD |  | 0.13 |  | 0.00% |
| Intérêts sur CC Chg. |  | ILS |  | 0.19 |  | 0.00% |
| Banque Degroof Petercam |  | CAD |  | 7.11 |  | 0.00% |
| Banque Degroof Petercam |  | EUR |  | 2,322.31 |  | 0.00% |
| Banque Degroof Petercam |  | HKD |  | 25,223.23 |  | 0.04% |
| Banque Degroof Petercam |  | USD |  | 30,657.03 |  | 0.05% |
| Banque Degroof Petercam |  | CAD |  | 37,721.48 |  | 0.06% |
| Banque Degroof Petercam |  | ILS |  | 20.66 |  | 0.00% |
| Banque Degroof Petercam |  | ILS |  | 595.95 |  | 0.00% |
| Banque Degroof Petercam |  | AUD |  | 2,419.06 |  | 0.00% |
| Banque Degroof Petercam |  | SGD |  | 1,569.65 |  | 0.00% |
| Banque Degroof Petercam |  | NZD |  | 25.06 |  | 0.00% |
| Banque Degroof Petercam |  | AUD |  | 17.94 |  | 0.00% |
| Banque Degroof Petercam |  | NZD |  | 1,803.51 |  | 0.00% |
| Total - deposit and liquid assets |  |  |  | 102,419.68 |  | 0.17% |

| Description | Quantity at 31 December 2019 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total - Deposits and liquid assets |  |  |  | 102,419.68 |  |  | 0.17% |
| Other receivables and other payables | -41,519.97 | -0.07% |
| Others | 0.00 | 0.00% |
| Total net assets | 60,016,032.53 | 100,00% |

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Translation (ENFR, 2019-12-31):
# COMPOSITION DES ACTIFS
| Dénomination | Quantité au 31 décembre 2019 | Devise | Cours en devise | Evaluation EUR | % détenu par l'OPC | % porte- feuille | % actif net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs |  |  |  |  |  |  |  |
| Obligations et autres titres de créances |  |  |  |  |  |  |
| Emis(es) par état |  |  |  |  |  |  |
| Autriche |  |  |  |  |  |  |
| AUSTRIA 0,75 18-28 | 1.500.000 | EUR | 106,64 | 1.599.555,00 | 0,46% | 0,45% |
| AUSTRIA 3,65 11-22 | 3.000.000 | EUR | 109,82 | 3.294.570,00 | 0,95% | 0,92% |
| Belgique |  |  |  | 4.894.125,00 |  | 1,41% | 1,36% |
| BELGIQUE 2,60 14-24 | 1.500.000 | EUR | 113,46 | 1.701.885,00 | 0,49% | 0,47% |
| Allemagne |  |  |  | 1.701.885,00 |  | 0,49% | 0,47% |
| GERMANY 0.10 12-23 | 3.000.000 | EUR | 104,22 | 3.397.515,88 | 0,98% | 0,95% |
| GERMANY 6,25 94-24 | 2.850.000 | EUR | 127,57 | 3.635.631,00 | 1,05% | 1,01% |
| Espagne |  |  |  | 7.033.146,88 |  | 2,03% | 1,96% |
| SPAIN 1,00 14-30 | 6.000.000 | EUR | 118,17 | 7.430.357,00 | 2,14% | 2,07% |
| SPAIN 1,40 18-28 | 1.500.000 | EUR | 108,83 | 1.632.510,00 | 0,47% | 0,45% |
| SPAIN 2,75 14-24 | 9.800.000 | EUR | 113,63 | 11.135.691,00 | 3,21% | 3,10% |
| SPAIN 4,40 13-23 | 10.200.000 | EUR | 117,55 | 11.990.355,00 | 3,46% | 3,34% |
| SPAIN 4,65 10-25 | 10.450.000 | EUR | 125,69 | 13.134.291,50 | 3,79% | 3,65% |
| SPAIN 5,50 11-21 | 6.075.000 | EUR | 107,90 | 6.554.803,50 | 1,89% | 1,82% |
| SPAIN 5,75 01-32 | 3.000.000 | EUR | 162,13 | 4.863.930,00 | 1,40% | 1,35% |
| SPAIN KING 1,8 13-24 | 5.000.000 | EUR | 114,39 | 6.010.464,91 | 1,73% | 1,67% |
| Finlande |  |  |  | 62.752.402,91 |  | 18,09% | 17,46% |
| FINLAND 4,00 09-25 | 100.000 | EUR | 124,08 | 124.079,00 | 0,04% | 0,03% |
| FINLANDE 2,75 12-28 | 5.000.000 | EUR | 123,78 | 6.189.250,00 | 1,78% | 1,72% |
| France |  |  |  | 6.313.329,00 |  | 1,82% | 1,76% |
| FRANCE OAT 3,5 10-26 | 10.000.000 | EUR | 123,66 | 12.365.850,00 | 3,56% | 3,44% |
| FRA OAT 4,25 07-23 | 7.000.000 | EUR | 118,28 | 8.279.740,00 | 2,39% | 2,30% |
| Hongrie (République) |  |  |  | 20.645.590,00 |  | 5,95% | 5,74% |
| HUNGARY 1,25 18-25 | 10.200.000 | EUR | 106,44 | 10.857.390,00 | 3,13% | 3,02% |
| Irlande |  |  |  | 10.857.390,00 |  | 3,13% | 3,02% |
| IRELAND 1,10 19-29 | 1.000.000 | EUR | 109,20 | 1.091.985,00 | 0,31% | 0,30% |
| IRELAND 1,30 18-33 | 1.000.000 | EUR | 111,69 | 1.116.855,00 | 0,32% | 0,31% |
| IRISH TRE 3,40 14-24 | 5.850.000 | EUR | 115,79 | 6.773.773,50 | 1,95% | 1,88% |
| IRISH TREA 1,0 16-26 | 8.000.000 | EUR | 107,14 | 8.571.360,00 | 2,47% | 2,38% |
| Italie |  |  |  | 17.553.973,50 |  | 5,06% | 4,88% |
| ITA BTP 5,25 98-29 | 4.050.000 | EUR | 135,79 | 5.499.535,50 | 1,59% | 1,53% |
| ITA BTP 9,00 93-23 | 7.175.000 | EUR | 132,88 | 9.534.427,00 | 2,75% | 2,65% |
| ITALY 0,40 16-24 | 7.000.000 | EUR | 100,03 | 6.971.359,79 | 2,01% | 1,94% |
| ITALY 0,95 16-23 | 8.500.000 | EUR | 102,29 | 8.694.777,50 | 2,51% | 2,42% |

| Dénomination | Quantité au 31 décembre 2019 | Devise | Cours en devise | Evaluation EUR | % détenu par l'OPC | % porte- feuille | % actif net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ITALY 1,60 16-26 | 11.000.000 | EUR | 104,64 | 11.510.950,00 |  | 3,32% | 3,20% |
| ITALY 1,65 14-20 | 2.750.000 | EUR | 101,19 | 2.765.303,64 | 0,80% | 0,77% |
| ITALY 2,95 18-38 | 5.700.000 | EUR | 113,30 | 6.458.185,50 | 1,86% | 1,80% |
| ITALY 3,75 06-21 | 2.000.000 | EUR | 106,11 | 2.122.270,00 | 0,61% | 0,59% |
| ITALY 3,75 10-21 | 2.300.000 | EUR | 104,70 | 2.408.054,00 | 0,69% | 0,67% |
| ITALY 5,00 11-22 | 5.650.000 | EUR | 110,81 | 6.260.765,00 | 1,80% | 1,74% |
| ITALY BTP 1,20 17-22 | 6.000.000 | EUR | 102,59 | 6.155.220,00 | 1,77% | 1,71% |
| ITALY BTP 1,50 15-25 | 7.500.000 | EUR | 104,04 | 7.803.075,00 | 2,25% | 2,17% |
| ITALY BTP 2,10 10-21 | 3.400.000 | EUR | 105,06 | 4.061.480,92 | 1,17% | 1,13% |
| ITALY BTP 5,5 12-22 | 9.200.000 | EUR | 114,32 | 10.517.072,00 | 3,03% | 2,93% |
| ITALY IL 2,60 07-23 | 2.675.000 | EUR | 111,22 | 3.564.619,05 | 1,03% | 0,99% |
| Luxembourg (Grand-Duché) |  |  |  | 94.327.094,90 |  | 27,19% | 26,25% |
| LUXEMBG 0,625 17-27 | 2.000.000 | EUR | 105,58 | 2.111.590,00 | 0,61% | 0,59% |
| Pologne (République) |  |  |  | 2.111.590,00 |  | 0,61% | 0,59% |
| POLAND 1,00 19-29 | 6.500.000 | EUR | 107,89 | 7.013.012,50 | 2,02% | 1,95% |
| Portugal |  |  |  | 7.013.012,50 |  | 2,02% | 1,95% |
| PORTUGAL 2,125 18-28 | 4.500.000 | EUR | 115,07 | 5.178.037,50 | 1,49% | 1,44% |
| PORTUGAL 2,875 15-25 | 6.000.000 | EUR | 116,09 | 6.965.250,00 | 2,01% | 1,94% |
| PORTUGAL 2,875 16-26 | 3.000.000 | EUR | 117,53 | 3.525.765,00 | 1,02% | 0,98% |
| Roumanie |  |  |  | 15.669.052,50 |  | 4,52% | 4,36% |
| ROMANIA 2,00 19-26 | 7.000.000 | EUR | 107,38 | 7.516.425,00 | 2,17% | 2,09% |
| Slovénie (République) |  |  |  | 7.516.425,00 |  | 2,17% | 2,09% |
| SLOVENIA 1,00 18-28 | 4.000.000 | EUR | 106,95 | 4.278.020,00 | 1,23% | 1,19% |
| Slovaquie (République slovaque) |  |  |  | 4.278.020,00 |  | 1,23% | 1,19% |
| SLOVAKIA 3,375 12-24 | 2.200.000 | EUR | 117,29 | 2.580.292,00 | 0,74% | 0,72% |
|  |  |  |  | 2.580.292,00 |  | 0,74% | 0,72% |
| Total - Emis(es) par état |  |  |  | 265.247.329,19 | 76,46% | 73,80% |
| Emis(es) par une institution internationale |  |  |  |  |  |  |
| Luxembourg (Grand-Duché) |  |  |  |  |  |  |
| EIB 0,00 16-24 | 5.000.000 | EUR | 101,20 | 5.059.875,00 | 1,46% | 1,41% |
| ESM 0,10 18-23 | 3.200.000 | EUR | 101,45 | 3.246.464,00 | 0,94% | 0,90% |
| ESM 0,125 16-24 | 4.000.000 | EUR | 101,63 | 4.065.020,00 | 1,17% | 1,13% |
|  |  |  |  | 12.371.359,00 |  | 3,57% | 3,44% |
| Total - Emis(es) par une institution internationale |  |  |  | 12.371.359,00 | 3,57% | 3,44% |
| Obligation du Secteur Public |  |  |  |  |  |  |
| Belgique |  |  |  |  |  |  |
| BNPPB 0,50 17-24 | 3.000.000 | EUR | 102,86 | 3.085.800,00 | 0,89% | 0,86% |
| FLEMISH 0,375 16-26 | 6.800.000 | EUR | 102,26 | 6.953.408,00 | 2,00% | 1,93% |
| FLEMISH 0,854 15-22 | 3.000.000 | EUR | 103,14 | 3.094.350,00 | 0,89% | 0,86% |
| FLEMISH 1,341 15-25 | 2.500.000 | EUR | 107,75 | 2.693.700,00 | 0,78% | 0,75% |
| ING BEL 0,50 15-21 | 5.000.000 | EUR | 101,45 | 5.072.325,00 | 1,46% | 1,41% |
| KBC BANK 0,125 15-21 | 2.000.000 | EUR | 100,63 | 2.012.660,00 | 0,58% | 0,56% |
|  |  |  |  | 22.912.243,00 |  | 6,60% | 6,38% |

| Dénomination | Quantité au 31 décembre 2019 | Devise | Cours en devise | Evaluation EUR | % détenu par l'OPC | % porte- feuille | % actif net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Allemagne |  |  |  |  |  |  |  |
| KFW 0,125 17-24 | 6.000.000 | EUR | 101,73 | 6.103.710,00 | 1,76% | 1,70% |
| KFW 0,50 17-27 | 7.000.000 | EUR | 104,17 | 7.291.585,00 | 2,10% | 2,03% |
| KFW 3,375 11-21 | 2.000.000 | EUR | 104,03 | 2.080.600,00 | 0,60% | 0,58% |
| France |  |  |  | 15.475.895,00 |  | 4,46% | 4,31% |
| AXA BK 3,50 10-20 | 6.500.000 | EUR | 103,27 | 6.712.257,50 | 1,93% | 1,87% |
| CIE FIN 3.50 10-20 | 4.500.000 | EUR | 103,25 | 4.646.385,00 | 1,34% | 1,29% |
| Italie |  |  |  | 11.358.642,50 |  | 3,27% | 3,16% |
| ITALY BTP 5,00 09-25 | 3.650.000 | EUR | 121,99 | 4.452.762,75 | 1,28% | 1,24% |
| Pays-Bas |  |  |  | 4.452.762,75 |  | 1,28% | 1,24% |
| BNG 0,25 15-25 | 2.000.000 | EUR | 102,08 | 2.041.610,00 | 0,59% | 0,57% |
| BNG 1,125 14-24 | 2.000.000 | EUR | 106,28 | 2.125.540,00 | 0,61% | 0,59% |
| ING BANK 3,375 12-22 | 5.500.000 | EUR | 107,52 | 5.913.847,50 | 1,70% | 1,65% |
| Slovaquie (République slovaque) |  |  |  | 10.080.997,50 |  | 2,91% | 2,80% |
| VUBSK 0,375 17-22 | 5.000.000 | EUR | 100,64 | 5.031.825,00 | 1,45% | 1,40% |
|  |  |  |  | 5.031.825,00 |  | 1,45% | 1,40% |
| Total - Obligation du Secteur Public |  |  |  | 69.312.365,75 | 19,98% | 19,29% |
| Total - Obligations et autres titres de créances |  |  |  | 346.931.053,94 | 100,00% | 96,53% |
| Total - Valeurs mobilières admises à la cote officielle d'une bourse de valeurs |  |  |  | 346.931.053,94 | 100,00% | 96,53% |
| Total - portefeuille |  |  |  | 346.931.053,94 | 100,00% | 96,53% |
| Collatéral |  |  |  | 0,00 |  | 0,00% |
| Dépôts et Liquidités |  |  |  |  |  |  |
| Avoirs bancaires à vue |  |  |  |  |  |  |
| Banque Degroof Petercam |  | EUR |  | 9.706.377,46 |  | 2,70% |
| Total - Avoirs bancaires à vue |  |  |  | 9.706.377,46 |  | 2,70% |
| Total - Dépôts et Liquidités |  |  |  | 9.706.377,46 |  | 2,70% |
| Créances et dettes diverses |  |  |  | -80.301,00 |  | -0,02% |
| Autres |  |  |  | 2.842.038,67 |  | 0,79% |
| Actif Net Total |  |  |  | 359.399.169,07 |  | 100,00% |

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