# SciBeta HFE EM Equity 6F UCITS ETF
Investment manager’s report for the financial year ended 31 July 2022
The Sub-Fund’s investment objective is to seek medium to long term capital appreciation by providing Shareholders with a return equivalent to the performance of the Scientific Beta Emerging ex-India HFI Multi-Beta Multi-Strategy (Six-Factor) EW Market Beta Adjusted (Leverage) Index Net Return denominated in EUR (the “Index”) before all fees and expenses charged to, or incurred by, the Sub-Fund.
The Scientific Beta Emerging ex-India HFI Multi-Beta Multi-Strategy (Six-Factor) EW Market Beta Adjusted (Leverage) Index Net Return is an index designed to have allocation to a portfolio of equities and equity related securities that are listed or traded on any stock exchange that is located in an emerging markets country through equally weighted allocations to 6 sub-indices. Each sub-index will reflect one of the six following investment styles: Value, Momentum, Low Volatility, Size, Profitability and Investment.
From inception to 19 April 2018, the Sub-fund was exposed to the Scientific Beta Emerging HFE Multi Beta Multi Strategy Equal Weight (Six Factor) Index and thereafter to Scientific Beta Emerging ex-India HFI Multi-Beta Multi-Strategy (Six- Factor) EW Market Beta Adjusted (Leverage) Index.

## From 6 December 2017 (its inception) to 19 April 2018 (change of the underlying Index), the performance of the Sub-Fund is

## 2.41%, compared to 2.69% for the Scientific Beta Emerging HFE Multi Beta Multi Strategy Equal Weight (Six Factor) Index.

## From 19 April 2018 (change of the underlying Index) to 31 July 2022, the performance of the Sub-Fund is 1.05%, compared to 5.45% for the Index.

## From 31 July 2021 to 31 July 2022, the performance of the Sub-Fund is 0.90%, compared to 1.92% for the Index.

## From 19 April 2018 (change of the underlying Index) to 31 July 2022, the Sub-Fund has an annualised volatility of 19.26% compared to 19.23% for the Index.

## In terms of tracking error (annualized standard deviation of the difference in performance between the return of the Sub-

## Fund and its benchmark) the Sub-Fund has achieved a low tracking error at 0.04% versus the Index.
SciBeta HFE EM Equity 6F EW UCITS ETF Schedule of investments as at 31 July 2022
| Holdings | Financial assets at fair value through profit or loss | Fair value € |  | % of net assets |
| --- | --- | --- | --- | --- |
|  | Equities: 96.99% (2021: 97.44%) |  |  |  |
|  | Austria: 0.01% (2021: 0.00%) |  |  |  |
|  | Consumer, cyclical: 0.01% (2021: 0.00%) |  |  |  |
| 1 | PIERER Mobility | 64 |  | 0.01 |
|  | Total Austria | 	64 |  | 	0.01 |
|  | Denmark: 7.30% (2021: 27.61%) |  |  |  |
|  | Consumer, non-cyclical: 3.23% (2021: 0.00%) |  |  |  |
| 277 | Carlsberg | 43,715 |  | 3.23 |
|  | Financial: 4.07% (2021: 19.61%) |  |  |  |
| 547 | Jeudan | 21,086 |  | 1.56 |
| 3,041 | Spar Nord Bank | 33,982 |  | 2.51 |
|  | Industrial: 0.00% (2021: 8.00%) | – |  | – |
|  | Total Denmark | 	98,783 |  | 	7.30 |
|  | Finland: 2.41% (2021: 0.00%) |  |  |  |
|  | Financial: 2.41% (2021: 0.00%) |  |  |  |
| 1,448 | eQ | 32,580 |  | 2.41 |
|  | Total Finland | 	32,580 |  | 	2.41 |
|  | Germany: 37.03% (2021: 16.49%) |  |  |  |
|  | Basic materials: 2.96% (2021: 0.00%) |  |  |  |
| 671 | KWS Saat | 40,059 |  | 2.96 |
|  | Consumer, cyclical: 3.72% (2021: 9.74%) |  |  |  |
| 600 | Cewe Stiftung | 50,280 |  | 3.72 |
|  | Consumer, non-cyclical: 2.29% (2021: 0.00%) |  |  |  |
| 717 | Eckert & Ziegler Strahlen- und Medizintechnik | 30,903 |  | 2.29 |
|  | Financial: 13.55% (2021: 0.00%) |  |  |  |
| 5,581 | ADLER Real Estate | 38,174 |  | 2.82 |
| 5,297 | Deutsche Pfandbriefbank | 47,752 |  | 3.53 |
| 17,016 | MLP | 97,332 |  | 7.20 |
|  | Industrial: 5.47% (2021: 6.75%) |  |  |  |
| 238 | Pfeiffer Vacuum Technology | 36,652 |  | 2.71 |
| 1,073 | Vossloh | 37,340 |  | 2.76 |
|  | Technology: 9.04% (2021: 0.00%) |  |  |  |
| 786 | Elmos Semiconductor | 37,138 |  | 2.75 |
| 1,652 | Mensch und Maschine Software | 85,078 |  | 6.29 |
|  | Total Germany | 	500,708 |  | 	37.03 |

SciBeta HFE EM Equity 6F EW UCITS ETF
Schedule of investments as at 31 July 2022 (continued)
| Holdings | Financial assets at fair value through profit or loss | Fair value € |  | % of net assets |
| --- | --- | --- | --- | --- |
|  | Equities: 96.99% (2021: 97.44%) (continued) |  |  |  |
|  | Netherlands: 2.72% (2021: 6.98%) |  |  |  |
|  | Consumer, non-cyclical: 0.13% (2021: 6.98%) |  |  |  |
| 1 | Adyen | 1,745 |  | 0.13 |
|  | Financial: 2.59% (2021: 0.00%) |  |  |  |
| 272 | HAL Trust | 35,088 |  | 2.59 |
|  | Total Netherlands | 	36,833 |  | 	2.72 |
|  | Norway: 16.32% (2021: 17.10%) |  |  |  |
|  | Communications: 6.52% (2021: 0.00%) |  |  |  |
| 7,382 | Atea | 88,217 |  | 6.52 |
|  | Consumer, cyclical: 0.00% (2021: 0.01%) | – |  | – |
|  | Energy: 0.00% (2021: 8.94%) | – |  | – |
|  | Financial: 2.50% (2021: 8.15%) |  |  |  |
| 3,604 | Sparebanken Vest | 33,856 |  | 2.50 |
|  | Industrial: 7.30% (2021: 0.00%) |  |  |  |
| 5,662 | AF Gruppen | 98,680 |  | 7.30 |
|  | Total Norway | 	220,753 |  | 	16.32 |
|  | Sweden: 12.25% (2021: 10.75%) |  |  |  |
|  | Consumer, cyclical: 0.00% (2021: 3.04%) | – |  | – |
|  | Consumer, non-cyclical: 0.00% (2021: 3.94%) |  |  |  |
| 5 | Surgical Science Sweden | 76 |  | – |
|  | Financial: 6.58% (2021: 3.77%) |  |  |  |
| 2 | Catena | 89 |  | 0.01 |
| 4,402 | Hufvudstaden | 59,241 |  | 4.38 |
| 3,541 | Platzer Fastigheter Holding | 29,567 |  | 2.19 |
|  | Industrial: 5.67% (2021: 0.00%) |  |  |  |
| 4,026 | SKF | 76,682 |  | 5.67 |
|  | Total Sweden | 	165,655 |  | 	12.25 |
|  | Switzerland: 16.17% (2021: 18.38%) |  |  |  |
|  | Basic materials: 0.00% (2021: 0.48%) | – |  | – |
|  | Communications: 3.09% (2021: 0.00%) |  |  |  |
| 326 | TX | 41,761 |  | 3.09 |
|  | Consumer, cyclical: 0.46% (2021: 0.00%) |  |  |  |
| 352 | Mobilezone Holding | 6,140 |  | 0.46 |
|  | Consumer, non-cyclical: 3.24% (2021: 4.32%) |  |  |  |
| 148 | Bell Food | 38,710 |  | 2.86 |

| SciBeta HFE EM Equity 6F EW UCITS ETF Schedule of investments as at 31 July 2022 (continued) |  |
| --- | --- |
|  |  | Fair value |  | % of net |
| Holdings Financial assets at fair value through profit or loss |  | € |  | assets |
| Equities: 96.99% (2021: 97.44%) (continued) |  |  |  |  |
| Switzerland: 16.17% (2021: 18.38%) (continued) |  |  |  |  |
| Consumer, non-cyclical: 3.24% (2021: 4.32%) (continued) |  |  |  |  |
| 30 Vifor Pharma |  | 5,137 |  | 0.38 |
| Financial: 5.80% (2021: 13.58%) |  |  |  |  |
| 31 Graubuendner Kantonalbank |  | 50,118 |  | 3.71 |
| 2 Luzerner Kantonalbank |  | 845 |  | 0.06 |
| 233 Walliser Kantonalbank |  | 27,472 |  | 2.03 |
| Technology: 3.58% (2021: 0.00%) |  |  |  |  |
| 424 u-blox Holding |  | 48,464 |  | 3.58 |
| Total Switzerland |  | 218,647 |  | 16.17 |
| United States: 2.78% (2021: 0.13%) |  |  |  |  |
| Communications: 2.78% (2021: 0.13%) |  |  |  |  |
| 367 Walt Disney |  | 37,618 |  | 2.78 |
| Total United States |  | 37,618 |  | 2.78 |
|  |  |  |  |  |
| Total equities |  | 1,311,641 |  | 96.99 |
| Financial derivative instruments: 1.19% (2021: 0.00%) |  |  |  |  |
|  | Notional | Unrealised |  | % of net |
| Counterparty Total return swaps - unrealised gains: 1.19% (2021: 0.00%) | € | gain € |  | assets |
| Morgan Stanley Swap Morgan Stanley SciBeta HFE EM Equity 6F EW UCITS ETF Reference |  |  |  |  |
| Portfolio Leg | 1,352,324 | 16,138 |  | 1.19 |
| Total total return swaps - unrealised gains |  | 16,138 |  | 1.19 |
|  |  |  |  |  |
| Total financial derivative instruments |  | 16,138 |  | 1.19 |
|  |  |  |  |  |
| Total financial assets at fair value through profit or loss |  | 1,327,779 |  | 98.18 |
| Financial liabilities at fair value through profit or loss |  |  |  |  |
| Financial derivative instruments: (3.06%) (2021: (4.26%)) |  |  |  |  |
| Total return swaps - unrealised losses: (3.06%) (2021: | Notional | Unrealised |  | % of net |
| Counterparty (4.26%)) | € | loss € |  | assets |
| Morgan Stanley Swap |  |  |  |  |
| Morgan Stanley SciBeta HFE EM Equity 6F EW UCITS ETF Financing |  |  |  |  |
| Portfolio Leg | (1,311,642) | (41,409) |  | (3.06) |
| Total total return swaps - unrealised losses |  | (41,409) |  | (3.06) |
|  |  |  |  |  |
| Total financial derivative instruments |  | (41,409) |  | (3.06) |
|  |  |  |  |  |
| Total financial liabilities at fair value through profit or loss |  | (41,409) |  | (3.06) |

SciBeta HFE EM Equity 6F EW UCITS ETF
Schedule of investments as at 31 July 2022 (continued)
|  | Fair value € |  | % of net assets |
| --- | --- | --- | --- |
| Total value of investments |  |  |  |
| (Cost: € 1,294,928) | 1,286,370 |  | 95.12 |
| Bank overdraft | (1) |  | – |
| Due from broker | 58,398 |  | 4.32 |
| Other net assets | 7,579 |  | 0.56 |
| Net assets attributable to holders of redeemable participating shares | 	1,352,346 |  | 	100.00 |

| Analysis of portfolio | Fair value € | % of total assets |
| --- | --- | --- |
| Transferable securities admitted to official stock exchange listing or dealt in/on another regulated market | 1,311,641 | 92.37 |
| Over the counter financial derivative instruments | 16,138 | 1.14 |
| Due from broker | 58,398 | 4.11 |
| Other assets | 	33,845 | 	2.38 |
| Total assets | 	1,420,022 | 	100.00 |

SciBeta HFE EM Equity 6F EW UCITS ETF
Schedule of significant portfolio movements for the financial year ended 31 July 2022
| Total purchases in the year |  | € 8,750,360 |
| --- | --- | --- |
| Material purchases | Nominal holdings | Cost € |
| Emmi | 439 | 415,804 |
| Sligro Food | 15,990 | 371,142 |
| Zug Estates | 152 | 276,508 |
| VIB Vermoegen | 6,664 | 268,616 |
| Metall Zug | 145 | 268,180 |
| BayWa | 6,424 | 258,202 |
| VZ | 3,118 | 250,809 |
| Heidelberger Druckmaschinen | 112,354 | 250,217 |
| NCC | 24,554 | 249,964 |
| MLP | 31,037 | 190,781 |
| Fielmann | 3,459 | 183,283 |
| Deutz | 33,069 | 178,439 |
| Elmos Semiconductor | 3,466 | 172,204 |
| Graubuendner Kantonalbank | 101 | 154,510 |
| Encavis | 10,329 | 152,456 |
| SKF | 14,998 | 151,505 |
| Indus Holding | 4,599 | 149,084 |
| Chocoladefabriken Lindt & Spruengli | 16 | 148,761 |
| Schweiter Technologies | 123 | 146,147 |
| Carlsberg | 1,283 | 144,830 |
| Borussia Dortmund GmbH | 24,788 | 144,279 |
| Spar Nord Bank | 37,991 | 136,995 |
| Bilia | 19,486 | 135,624 |
| Deutsche Pfandbriefbank | 12,736 | 134,736 |
| Bergman & Beving | 14,728 | 132,828 |
| Zuger Kantonalbank | 20 | 126,256 |
| Ascom | 9,868 | 123,447 |
| GFT Technologies | 3,681 | 116,002 |
| Warteck Invest | 48 | 109,768 |
| Hufvudstaden | 12,224 | 106,561 |
| Eckert & Ziegler Strahlen- und Medizintechnik | 2,594 | 98,520 |
| Pfeiffer Vacuum Technology | 589 | 97,810 |
| AF Gruppen | 5,662 | 96,392 |
| eQ | 3,730 | 91,385 |
| ADLER Real Estate | 12,974 | 88,799 |
| Cewe Stiftung | 1,038 | 88,708 |

The statement of material purchases reflect the aggregate purchases of a security exceeding one per cent of the total value of purchases for the financial year. If there were fewer than twenty positions exceeding one per cent, the top twenty positions

Translation (ENFR, 2022-07-31):
# SciBeta HFE EM Equity 6F UCITS ETF
Rapport du Gestionnaire d’investissement pour l’exercice clos le 31 juillet 2022
L’objectif d’investissement du Compartiment est de viser l’appréciation du capital sur le moyen à long terme en fournissant aux Actionnaires un rendement équivalent à la performance de l’indice Scientific Beta Emerging ex-India HFI Multi-Beta Multi-Strategy (Six-Factor) EW Market Beta Adjusted (Leverage) Index Net Return, libellé en EUR (l’« Indice »), avant tous les frais et commissions imputés au Compartiment ou supportés par celui-ci.
L’indice Scientific Beta Emerging ex-India HFI Multi-Beta Multi-Strategy (Six-Factor) EW Market Beta Adjusted (Leverage) Index Net Return est un indice conçu pour obtenir une allocation à un portefeuille d’actions et de titres liés à des actions, cotés ou négociés sur toute Bourse située dans des pays émergents, par le biais d’allocations de pondération égale dans 6 sous-indices. Chaque sous-indice reflétera l’un des six styles d’investissement suivants : Valeur, momentum, faible volatilité, taille, rentabilité et placement.
Entre sa date de lancement et le 19 avril 2018, le Compartiment a été exposé à l’indice Scientific Beta Emerging HFE Multi Beta Multi Strategy Equal Weight (Six Factor) et, par la suite, à l’indice Scientific Beta Emerging ex-India HFI Multi-Beta Multi-Strategy (Six-Factor) EW Market Beta Adjusted (Leverage).
Du 6 décembre 2017 (date de lancement) au 19 avril 2018 (date de modification de l’Indice sous-jacent), le rendement du Compartiment a été de 2,41 %, contre 2,69 % pour l’indice Scientific Beta Emerging HFE Multi Beta Multi Strategy Equal Weight (Six Factor).

## Du 19 avril 2018 (date de modification de l’Indice sous-jacent) au 31 juillet 2022, la performance du Compartiment a été de 1,05 %, contre 5,45 % pour l’Indice.

## Du 31 juillet 2021 au 31 juillet 2022, la performance du Compartiment a été de 0,90 %, contre 1,92 % pour l’Indice.

## Du 19 avril 2018 (changement de l’Indice sous-jacent) au 31 juillet 2022, la volatilité annualisée du Compartiment a été de 19,26 %, contre 19,23 % pour l’Indice.
S’agissant de l’écart de suivi (écart type annualisé de la différence de performance entre le rendement du Compartiment et celui de son indice de référence), le Compartiment a atteint un écart de suivi faible, à 0,04 % par rapport à l’Indice.
SciBeta HFE EM Equity 6F EW UCITS ETF État des investissements au 31 juillet 2022
| Participations | Actifs financiers à la juste valeur par le biais du compte de résultat | Juste valeur EUR |  | % de l’actif net |
| --- | --- | --- | --- | --- |
|  | Actions : 96,99 % (2021 : 97,44 %) |  |  |  |
|  | Autriche : 0,01 % (2021 : 0,00 %) |  |  |  |
|  | Biens de consommation cycliques : 0,01 % (2021 : 0,00 %) |  |  |  |
| 1 | PIERER Mobility | 64 |  | 0,01 |
|  | Total Autriche | 	64 |  | 	0,01 |
|  | Danemark : 7,30 % (2021 : 27,61 %) |  |  |  |
|  | Biens de consommation non cycliques : 3,23 % (2021 : 0,00 %) |  |  |  |
| 277 | Carlsberg | 43 715 |  | 3,23 |
|  | Valeurs financières : 4,07 % (2021 : 19,61 %) |  |  |  |
| 547 | Jeudan | 21 086 |  | 1,56 |
| 3 041 | Spar Nord Bank | 33 982 |  | 2,51 |
|  | Industriel : 0,00 % (2021 : 8,00 %) | – |  | – |
|  | Total Danemark | 	98 783 |  | 	7,30 |
|  | Finlande : 2,41 % (2021 : 0,00 %) |  |  |  |
|  | Valeurs financières : 2,41 % (2021 : 0,00 %) |  |  |  |
| 1 448 | eQ | 32 580 |  | 2,41 |
|  | Total Finlande | 	32 580 |  | 	2,41 |
|  | Allemagne : 37,03 % (2021 : 16,49 %) |  |  |  |
|  | Matériaux de base : 2,96 % (2021 : 0,00 %) |  |  |  |
| 671 | KWS Saat | 40 059 |  | 2,96 |
|  | Biens de consommation cycliques : 3,72 % (2021 : 9,74 %) |  |  |  |
| 600 | Cewe Stiftung | 50 280 |  | 3,72 |
|  | Biens de consommation non cycliques : 2,29 % (2021 : 0,00 %) |  |  |  |
| 717 | Eckert & Ziegler Strahlen- und Medizintechnik | 30 903 |  | 2,29 |
|  | Valeurs financières : 13,55 % (2021 : 0,00 %) |  |  |  |
| 5 581 | ADLER Real Estate | 38 174 |  | 2,82 |
| 5 297 | Deutsche Pfandbriefbank | 47 752 |  | 3,53 |
| 17 016 | MLP | 97 332 |  | 7,20 |
|  | Industriel : 5,47 % (2021 : 6,75 %) |  |  |  |
| 238 | Pfeiffer Vacuum Technology | 36 652 |  | 2,71 |
| 1 073 | Vossloh | 37 340 |  | 2,76 |
|  | Technologie : 9,04 % (2021 : 0,00 %) |  |  |  |
| 786 | Elmos Semiconductor | 37 138 |  | 2,75 |
| 1 652 | Mensch und Maschine Software | 85 078 |  | 6,29 |
|  | Total Allemagne | 	500 708 |  | 	37,03 |

SciBeta HFE EM Equity 6F EW UCITS ETF
État des investissements au 31 juillet 2022 (suite)
| Participations | Actifs financiers à la juste valeur par le biais du compte de résultat | Juste valeur EUR |  | % de l’actif net |
| --- | --- | --- | --- | --- |
|  | Actions : 96,99 % (2021 : 97,44 %) (suite) |  |  |  |
|  | Pays-Bas : 2,72 % (2021 : 6,98 %) |  |  |  |
|  | Biens de consommation non cycliques : 0,13 % (2021 : 6,98 %) |  |  |  |
| 1 | Adyen | 1 745 |  | 0,13 |
|  | Valeurs financières : 2,59 % (2021 : 0,00 %) |  |  |  |
| 272 | HAL Trust | 35 088 |  | 2,59 |
|  | Total Pays-Bas | 	36 833 |  | 	2,72 |
|  | Norvège : 16,32 % (2021 : 17,10 %) |  |  |  |
|  | Communications : 6,52 % (2021 : 0,00 %) |  |  |  |
| 7 382 | Atea | 88 217 |  | 6,52 |
|  | Biens de consommation cycliques : 0,00 % (2021 : 0,01 %) | – |  | – |
|  | Énergie : 0,00 % (2021 : 8,94 %) | – |  | – |
|  | Valeurs financières : 2,50 % (2021 : 8,15 %) |  |  |  |
| 3 604 | Sparebanken Vest | 33 856 |  | 2,50 |
|  | Industriel : 7,30 % (2021 : 0,00 %) |  |  |  |
| 5 662 | AF Gruppen | 98 680 |  | 7,30 |
|  | Total Norvège | 	220 753 |  | 	16,32 |
|  | Suède : 12,25 % (2021 : 10,75 %) |  |  |  |
|  | Biens de consommation cycliques : 0,00 % (2021 : 3,04 %) | – |  | – |
|  | Biens de consommation non cycliques : 0,00 % (2021 : 3,94 %) |  |  |  |
| 5 | Surgical Science Sweden | 76 |  | – |
|  | Valeurs financières : 6,58 % (2021 : 3,77 %) |  |  |  |
| 2 | Catena | 89 |  | 0,01 |
| 4 402 | Hufvudstaden | 59 241 |  | 4,38 |
| 3 541 | Platzer Fastigheter Holding | 29 567 |  | 2,19 |
|  | Industriel : 5,67 % (2021 : 0,00 %) |  |  |  |
| 4 026 | SKF | 76 682 |  | 5,67 |
|  | Total Suède | 	165 655 |  | 	12,25 |
|  | Suisse : 16,17 % (2021 : 18,38 %) |  |  |  |
|  | Matériaux de base : 0,00 % (2021 : 0,48 %) | – |  | – |
|  | Communications : 3,09 % (2021 : 0,00 %) |  |  |  |
| 326 | TX | 41 761 |  | 3,09 |
|  | Biens de consommation cycliques : 0,46 % (2021 : 0,00 %) |  |  |  |
| 352 | Mobilezone Holding | 6 140 |  | 0,46 |
|  | Biens de consommation non cycliques : 3,24 % (2021 : 4,32 %) |  |  |  |
| 148 | Bell Food | 38 710 |  | 2,86 |

SciBeta HFE EM Equity 6F EW UCITS ETF
État des investissements au 31 juillet 2022 (suite)

## Participations Actifs financiers à la juste valeur par le biais du compte de résultat Actions : 96,99 % (2021 : 97,44 %) (suite)

## Suisse : 16,17 % (2021 : 18,38 %) (suite)

## Juste valeur

## EUR

## % de l’actif net
|  | Biens de consommation non cycliques : 3,24 % (2021 : 4,32 %) | (suite) |  |
| --- | --- | --- | --- |
| 30 | Vifor Pharma |  | 5 137 |  | 0,38 |
|  | Valeurs financières : 5,80 % (2021 : 13,58 %) |  |  |  |  |
| 31 | Graubuendner Kantonalbank |  | 50 118 |  | 3,71 |
| 2 | Luzerner Kantonalbank |  | 845 |  | 0,06 |
| 233 | Walliser Kantonalbank |  | 27 472 |  | 2,03 |
|  | Technologie : 3,58 % (2021 : 0,00 %) |  |  |  |  |
| 424 | u-blox Holding |  | 48 464 |  | 3,58 |
|  | Total Suisse |  | 218 647 |  | 16,17 |
|  | États-Unis : 2,78 % (2021 : 0,13 %) |  |  |  |  |
|  | Communications : 2,78 % (2021 : 0,13 %) |  |  |  |  |
| 367 | Walt Disney |  | 37 618 |  | 2,78 |
|  | Total États-Unis |  | 37 618 |  | 2,78 |
|  |  |  |  |  |  |
|  | Total des actions |  | 1 311 641 |  | 96,99 |
|  | Instruments financiers dérivés : 1,19 % (2021 : 0,00 %) |  |  |  |  |
|  |  | Montant |  |  |  |
|  | Contrats d’échange sur rendement total - plus-values | notionnel | Plus-value |  | % de |
| Contreparties | latentes : 1,19 % (2021 : 0,00 %) | EUR | latente EUR |  | l’actif net |
| Morgan Stanley | Morgan Stanley Swap SciBeta HFE EM Equity 6F EW UCITS ETF Branche |  |  |  |  |
|  | portefeuille de référence | 1 352 324 | 16 138 |  | 1,19 |
| Total des contrats d’échange sur rendement total - plus-values latentes | 16 138 |  | 1,19 |
|  |  |  |  |
| Total des instruments financiers dérivés | 16 138 |  | 1,19 |
|  |  |  |  |
| Total des actifs financiers à la juste valeur par le biais du compte de résultat | 1 327 779 |  | 98,18 |
| Passifs financiers à la juste valeur par le biais du compte de résultat |  |  |  |
| Instruments financiers dérivés : (3,06 %) (2021 : (4,26 %)) |  |  |  |


## Contreparties

## Contrats d’échange sur rendement total - moins-values latentes : (3,06 %) (2021 : (4,26 %))

## Morgan Stanley Swap

## Montant

## notionnel

## EUR

## Moins-value latente EUR

## % de l’actif net

## Morgan Stanley SciBeta HFE EM Equity 6F EW UCITS ETF Branche

## portefeuille de financement	(1 311 642)	(41 409)	(3,06)
| Total des contrats d’échange sur rendement total - moins-values latentes | (41 409) |  | (3,06) |
| --- | --- | --- | --- |
|  |  |  |  |
| Total des instruments financiers dérivés | (41 409) |  | (3,06) |
|  |  |  |  |
| Total des passifs financiers à la juste valeur par le biais du compte de résultat | (41 409) |  | (3,06) |

| SciBeta HFE EM Equity 6F EW UCITS ETF État des investissements au 31 juillet 2022 (suite) |  |
| --- | --- |
|  | Juste valeur | % de |
|  | EUR | l’actif net |
| Valeur totale des investissements (Coût : 1 294 928 EUR) | 1 286 370 | 95,12 |
| Découvert bancaire | (1) | – |
| Montants dus par le courtier | 58 398 | 4,32 |
| Autres actifs nets | 7 579 | 0,56 |


## Actif net attribuable aux porteurs d’actions de participation rachetables 	1 352 346	100,00
| Analyse du portefeuille | Juste valeur EUR | % de l’actif total |
| --- | --- | --- |
| Valeurs mobilières admises à la cote officielle d’une Bourse de valeurs ou |  |  |
| négociées sur un autre marché réglementé | 1 311 641 | 92,37 |
| Instruments financiers dérivés de gré à gré | 16 138 | 1,14 |
| Montants dus par le courtier | 58 398 | 4,11 |
| Autres actifs | 	33 845 | 	2,38 |
| Actif total | 	1 420 022 | 	100,00 |