# OYSTER
## - US High Yield

### Financial Statements as at 31/12/2021

#### Statement of net assets as at 31/12/2021
Expressed in USD
| Assets |  | 34,769,136.00 |
| --- | --- | --- |
| Securities portfolio at market value | Note 2 | 33,694,570.92 |
| Unrealised profit on the securities portfolio |  | 830,915.58 |
| Cash at banks and liquidities |  | 263,555.41 |
| Interest receivable | Note 2 | 588,269.65 |
| Unrealised profit on forward foreign exchange contracts | Note 2 | 222,740.02 |
| Liabilities |  | 44,224.26 |
| Management fees payable | Note 3 | 29,513.30 |
| Other liabilities |  | 14,710.96 |
| Net asset value |  | 34,724,911.74 |


#### Statement of operations and changes in net assets from 01/01/2021 to 31/12/2021
Expressed in USD
| Income |  | 2,361,484.43 |
| --- | --- | --- |
| Net interest on bonds |  | 2,359,153.50 |
| Bank interest on cash account |  | 8.25 |
| Other income |  | 2,322.68 |
| Expenses |  | 605,359.61 |
| Management fees and Management Company fees | Note 3 | 399,216.07 |
| Depositary fees | Note 6 | 5,841.07 |
| Taxe d'abonnement | Note 5 | 11,410.82 |
| Administrative expenses | Note 3 | 79,124.57 |
| Bank interest |  | 1,488.46 |
| Legal fees |  | 14,738.44 |
| Transaction fees | Note 8 | 571.95 |
| Other expenses | Note 10 | 92,968.23 |
| Net income from investments |  | 1,756,124.82 |
| Net realised profit / loss on: - sales of investment securities | Note 2 | 1,788,481.93 |
| - forward foreign exchange contracts | Note 2 | (854,550.91) |
| - foreign exchange | Note 2 | (330,844.07) |
| Net realised profit |  | 2,359,211.77 |
| Movement in net unrealised appreciation / depreciation on: - investments |  | (1,733,910.10) |
| - forward foreign exchange contracts |  | 149,855.60 |
| Increase in net assets as a result of operations |  | 775,157.27 |
| Dividends paid | Note 9 | (66,007.65) |
| Subscription capitalisation shares |  | 12,071,322.15 |
| Subscription distribution shares |  | 337,477.75 |
| Redemption capitalisation shares |  | (22,815,323.71) |
| Redemption distribution shares |  | (475,507.59) |
| Decrease in net assets |  | (10,172,881.78) |
| Net assets at the beginning of the year |  | 44,897,793.52 |
| Net assets at the end of the year |  | 34,724,911.74 |

Statistics
|  | Year ending as at: | 31/12/2021 | 31/12/2020 | 31/12/2019 |
| --- | --- | --- | --- | --- |
| Total Net Assets | USD | 34,724,911.74 | 44,897,793.52 | 54,271,427.29 |
| C - CHF - HP - Capitalisation Number of shares |  | 5,731.107 | 7,340.838 | 18,734.972 |
| Net asset value per share | CHF | 213.35 | 206.72 | 200.10 |
| C - EUR - HP - Capitalisation Number of shares |  | 10,225.751 | 9,711.031 | 24,548.913 |
| Net asset value per share | EUR | 222.18 | 214.72 | 207.48 |
| C - USD - Capitalisation Number of shares |  | 27,167.202 | 39,903.973 | 58,091.378 |
| Net asset value per share | USD | 259.71 | 248.91 | 236.07 |
| C - USD - Distribution Number of shares |  | 8,291.444 | 9,244.580 | 15,581.214 |
| Net asset value per share | USD | 146.39 | 147.17 | 146.40 |
| I - CHF - HP - Capitalisation Number of shares |  | 8,848.000 | 7,622.000 | 5,236.888 |
| Net asset value per share | CHF | 1,495.96 | 1,441.53 | 1,389.51 |
| I - EUR - HP- Capitalisation Number of shares |  | 884.000 | 1,504.730 | 2,315.672 |
| Net asset value per share | EUR | 1,565.94 | 1,501.90 | 1,442.10 |
| I - USD - Capitalisation Number of shares |  | 1,791.305 | 6,472.999 | 5,927.822 |
| Net asset value per share | USD | 1,770.08 | 1,687.51 | 1,593.19 |
| I - USD - Distribution Number of shares |  | 52.000 | 52.000 | 52.000 |
| Net asset value per share | USD | 961.96 | 962.21 | 953.24 |
| I - USD - HP - Capitalisation Number of shares |  | 0.000 | 0.000 | 1,492.904 |
| Net asset value per share | USD | 0.00 | 0.00 | 1,177.39 |
| R - EUR - HP - Capitalisation Number of shares |  | 1,451.213 | 1,436.213 | 4,283.213 |
| Net asset value per share | EUR | 188.16 | 181.10 | 174.47 |
| R - USD - Capitalisation Number of shares |  | 13,017.659 | 13,406.975 | 26,525.648 |
| Net asset value per share | USD | 222.56 | 212.59 | 201.10 |

Changes in number of shares outstanding from 01/01/2021 to 31/12/2021
|  | Shares outstanding as at 01/01/2021 | Shares issued | Shares redeemed | Shares outstanding as at 31/12/2021 |
| --- | --- | --- | --- | --- |
| C - CHF - HP - Capitalisation | 7,340.838 | 180.000 | 1,789.731 | 5,731.107 |
| C - EUR - HP - Capitalisation | 9,711.031 | 13,600.000 | 13,085.280 | 10,225.751 |
| C - USD - Capitalisation | 39,903.973 | 13,875.254 | 26,612.025 | 27,167.202 |
| C - USD - Distribution | 9,244.580 | 2,284.328 | 3,237.464 | 8,291.444 |

Changes in number of shares outstanding from 01/01/2021 to 31/12/2021
|  | Shares outstanding as at 01/01/2021 | Shares issued | Shares redeemed | Shares outstanding as at 31/12/2021 |
| --- | --- | --- | --- | --- |
| I - CHF - HP - Capitalisation | 7,622.000 | 2,615.000 | 1,389.000 | 8,848.000 |
| I - EUR - HP- Capitalisation | 1,504.730 | 64.995 | 685.725 | 884.000 |
| I - USD - Capitalisation | 6,472.999 | 343.223 | 5,024.917 | 1,791.305 |
| I - USD - Distribution | 52.000 | 0.000 | 0.000 | 52.000 |
| R - EUR - HP - Capitalisation | 1,436.213 | 15.000 | 0.000 | 1,451.213 |
| R - USD - Capitalisation | 13,406.975 | 0.000 | 389.316 | 13,017.659 |

| Quantity	Denomination	Quotation	Cost price currency | Market value | % of net assets |
| --- | --- | --- |
| Transferable securities admitted to an official stock exchange listing and/or dealt in on another regulated market	 32,863,655.34 | 33,694,570.92 | 97.03 |
| Bonds	 32,863,655.34 | 33,694,570.92 | 97.03 |
| Canada	 2,615,539.93 | 2,463,218.45 | 7.09 |

| 350,000 BAFFINLAND IRON MINES 8.75 18-26 15/07A | USD | 364,003.39 | 364,364.00 | 1.05 |
| --- | --- | --- | --- | --- |
| 120,000 BAUSCH HEALTH COMPANIE 5.25 20-31 15/02S | USD | 112,200.00 | 105,636.00 | 0.30 |
| 261,000 BAUSCH HEALTH 144A 6.125 15-25 15/04S | USD | 264,915.00 | 266,546.25 | 0.77 |
| 600,000 TEINE ENERGY LT	6.8750 21-29 15/04S | USD | 600,000.00 | 610,197.00 | 1.76 |
| 940,000 TELESAT CANADA	6.50 19-27 15/10S | USD | 907,721.54 | 730,380.00 | 2.10 |
| 380,000 TITAN ACQUISITION LTD 7.75 18/26 15/04S | USD | 366,700.00 | 386,095.20 | 1.11 |
| Cayman Islands |  | 881,782.29 | 892,612.39 | 2.57 |
| 473,000 TRANSOCEAN INC	11.5 20-27 30/01S | USD | 461,625.00 | 464,031.92 | 1.34 |
| 213,730 TRANSOCEAN PONT	6.1250 18-25 01/08S | USD | 206,904.02 | 209,143.36 | 0.60 |
| 135,000 TRANSOCEAN PROT	6.2500 16-24 01/12S | USD | 134,540.90 | 133,377.30 | 0.38 |
| 85,000 TRANSOCEAN 144A	7.75 16-24 15/10S | USD | 78,712.37 | 86,059.81 | 0.25 |
| Indonesia |  | 553,906.25 | 566,973.00 | 1.63 |
| 575,000 WEST CORP.	8.50 17-25 15/10S | USD | 553,906.25 | 566,973.00 | 1.63 |
| Ireland |  | 1,305,497.21 | 1,366,655.35 | 3.94 |
| 965,000 CIMPRESS PLC	7.0000 18-26 15/06S | USD | 949,097.21 | 1,003,397.35 | 2.89 |
| 360,000 DOLYA HOLDCO	5.00 20-28 15/07S | USD | 356,400.00 | 363,258.00 | 1.05 |
| Luxembourg |  | 1,034,300.00 | 1,133,288.00 | 3.26 |
| 880,000 CONNECT FINCO SARL/CO 6.750 19-26 01/10S | USD | 833,800.00 | 926,288.00 | 2.66 |
| 200,000 TELENET INT FIN 5.50 17-28 01/03S | USD | 200,500.00 | 207,000.00 | 0.60 |
| Switzerland |  | 463,662.50 | 468,492.75 | 1.35 |
| 450,000 BRUNDAGE-BONE C	6.0000 21-26 01/02S | USD | 463,662.50 | 468,492.75 | 1.35 |
| The Netherlands |  | 277,801.65 | 295,225.42 | 0.85 |
| 287,000 ZIGGO BV	5.50 16-27 15/01S | USD | 277,801.65 | 295,225.42 | 0.85 |
| United States of America |  | 25,731,165.51 | 26,508,105.56 | 76.34 |
| 390,000 ACRISURE LLC	4.25 21-29 15/02S | USD | 390,000.00 | 379,865.85 | 1.09 |
| 610,000 ADVANTAGE SOLUTIONS F 6.5 20-28 15/11S | USD | 610,000.00 | 639,990.65 | 1.84 |
| 470,000 AMERICAN AIRLINES 11.7500 20-25 15/07 | USD | 465,300.00 | 580,494.65 | 1.67 |
| 180,000 AMN HEALTHCARE	4.625 19-27 01/10S | USD | 184,158.87 | 186,750.00 | 0.54 |
| 570,000 ANTERO MIDSTREAM 5.75 19-28 15/01S | USD | 477,443.40 | 598,551.30 | 1.72 |
| 30,000 ARCHROCK PARTNE	6.2500 19-28 01/04S | USD | 30,637.50 | 31,324.20 | 0.09 |
| 280,000 ARCONIC CORPORATION 6.125 20-28 15/02S | USD | 298,550.00 | 298,446.40 | 0.86 |
| 140,000 AVANTOR FUNDING	3.8750 21-29 01/11S | USD | 140,000.00 | 141,728.30 | 0.41 |
| 60,000 CANO HEALTH LLC	6.25 21-28 01/10S | USD | 60,000.00 | 60,085.97 | 0.17 |
| 420,000 CARVANA CO	5.875 20-28 01/10S | USD | 420,000.00 | 419,015.10 | 1.21 |
| 750,000 CENTURY ALUMINU	7.5000 21-28 01/04S | USD | 759,800.00 | 792,952.58 | 2.28 |
| 370,000 CHS/COMMUNITY HEALTH 6.875 21-29 15/04S | USD | 377,416.82 | 377,503.60 | 1.09 |
| 120,000 CLEAR CHANNEL OUTDOOR 7.500 21-29 01/06S | USD | 120,150.00 | 128,306.40 | 0.37 |
| 280,000 CLEAR CHANNEL OUTDOOR 7.750 21-28 15/04S | USD | 282,550.00 | 300,028.40 | 0.86 |
| 400,000 COMMSCOPE INC	4.7500 21-29 01/09S | USD | 400,000.00 | 398,222.00 | 1.15 |
| 210,000 COMMSCOPE TECH 144A 5.00 17-27 15/03S | USD | 213,150.00 | 196,560.00 | 0.57 |
| 562,000 CUMULUS MEDIA NEW  6.75 19-26 01/07S | USD | 532,792.50 | 583,794.36 | 1.68 |
| 450,000 DISH DBS CORPORATION 7.375 20-28 01/07S | USD | 451,000.00 | 456,347.25 | 1.31 |
| 460,000 DIVERSIFIED HEALTH 9.75 20-25 15/06S | USD | 506,703.73 | 498,278.90 | 1.43 |
| 310,000 DORNOCH DEBT ME	6.6250 21-29 15/10S | USD | 310,000.00 | 306,512.50 | 0.88 |
| 530,000 DYCOM INDUSTRIE	4.5000 21-29 15/04S | USD | 530,000.00 | 540,822.60 | 1.56 |
| 280,000 ENERGIZER HOLDI	4.3750 20-29 31/03S | USD | 271,700.00 | 273,690.20 | 0.79 |
| 63,000 FORD MOTOR CREDIT CO 9.625 20-30 22/04S | USD | 72,046.55 | 92,314.84 | 0.27 |
| 1,040,000 FP OP CO FP CAP 144A 7.875 17-25 15/11S | USD | 988,000.00 | 1,085,905.60 | 3.13 |
| 220,000 GO DADDY OPCO/FINCO 3.5 21-29 01/03S | USD | 220,000.00 | 218,548.00 | 0.63 |
| 350,000 GRUBHUB HOLDING	5.5000 19-27 01/07S | USD | 360,500.00 | 347,900.00 | 1.00 |
| 730,000 HARVEST MIDSTREAM  7.5 20-28 01/09S | USD | 747,409.27 | 782,136.60 | 2.25 |
| 275,000 HILCORP ENERGY	6.2500 18-28 01/11S | USD | 237,318.62 | 289,480.13 | 0.83 |
| 220,000 HOWARD HUGUES CORP 4.125 21-29 01/02S | USD | 221,087.50 | 223,252.70 | 0.64 |
| 220,000 HOWARD HUGUES CORP 4.375 21-31 01/02S | USD | 221,087.50 | 222,525.60 | 0.64 |
| 410,000 IEA ENERGY	6.625 21-29 15/08S | USD | 406,125.00 | 405,553.55 | 1.17 |
| 390,000 IMOLA MERGER CO	4.7500 21-29 15/05S | USD | 390,000.00 | 400,307.70 | 1.15 |
| 190,000 KENNEDY WILSON INC  4.75 21-30 01/02S | USD | 190,000.00 | 192,891.80 | 0.56 |
| 220,000 KENNEDY WILSON 5.00 21-31 01/03S | USD | 220,000.00 | 226,931.10 | 0.65 |
| 220,000 LEEWARD RENEWAB	4.2500 21-29 01/07S | USD | 220,900.00 | 222,525.60 | 0.64 |
| 150,000 LEVEL 3 FINANCING INC 3.625 20-29 15/01S | USD | 150,000.00 | 142,732.50 | 0.41 |
| 165,000 LEVEL 3 FINANCING INC 4.625 19-27 15/09 | USD | 165,531.25 | 168,549.98 | 0.49 |

| Quantity	Denomination	Quotation currency | Cost price | Market value | % of net assets |
| --- | --- | --- | --- |
| 500,000 LIONS GATE CAPITAL H 5.5 21-29 15/04S	USD | 503,187.50 | 509,637.50 | 1.47 |

| 590,000 MADISON IAQ LLC | 5.875 21-29 30/06S | USD | 595,500.00 | 590,902.58 | 1.70 |
| --- | --- | --- | --- | --- | --- |
| 150,000 MODIVCARE 5.0% | 21-29 01/10S | USD | 150,000.00 | 153,417.00 | 0.44 |
| 360,000 MOZART DEBT MERGE  3.875 21-29 01/04S | USD | 360,000.00 | 359,449.20 | 1.04 |
| 130,000 MOZART DEBT MERGER  5.25 21-29 01/10S | USD | 130,000.00 | 132,043.60 | 0.38 |
| 120,000 NESCO HOLDINGS II INC 5.5 21-29 15/04S | USD | 121,925.00 | 124,113.00 | 0.36 |
| 90,000 NEW ENTERPRISE	5.2500 21-28 15/07S | USD | 90,000.00 | 91,395.45 | 0.26 |
| 320,000 NEW ENTERPRISE	9.7500 20-28 15/07S | USD | 347,200.00 | 342,852.80 | 0.99 |
| 276,000 NEXSTAR ESCROW	5.6250 19-27 15/07S | USD | 280,770.00 | 288,774.66 | 0.83 |
| 288,000 NEXTERA ENERGY OPERA 4.2500 19-24 15/07S | USD | 289,465.94 | 299,515.68 | 0.86 |
| 190,000 OWENS & MINOR I	4.5000 21-29 31/03S | USD | 191,302.16 | 195,024.55 | 0.56 |
| 290,000 PATRICK INDUSTRIES 4.750 21-29 01/05S | USD | 290,000.00 | 287,539.35 | 0.83 |
| 180,000 PATTERN ENERGY GROUP 4.5 20-28 15/08S | USD | 181,725.00 | 187,030.80 | 0.54 |
| 270,000 PENN NATIONAL G	4.1250 21-29 01/07S | USD | 270,112.50 | 262,309.05 | 0.76 |
| 230,000 PENN NATIONAL GAMI 5.625 17-27 15/01S | USD | 239,037.50 | 234,851.85 | 0.68 |
| 750,000 PETSMART IN	7.75 21-29 15/02S | USD | 750,000.00 | 816,011.25 | 2.35 |
| 100,000 QVC INC	4.3750 20-28 01/09S | USD | 100,000.00 | 99,419.50 | 0.29 |
| 339,000 QVC INC	4.7500 20-27 15/02S | USD | 336,641.80 | 348,708.96 | 1.00 |
| 99,000 QVC INC	5.45 14-34 15/08S | USD | 84,266.25 | 98,149.10 | 0.28 |
| 352,000 RAYONIER AM PRO	7.6250 20-26 15/01S | USD | 372,430.27 | 373,560.00 | 1.08 |
| 180,000 REAL HERO MERGER SUB 6.25 21-29 01/02S | USD | 182,427.63 | 179,972.10 | 0.52 |
| 590,000 REALOGY GROUP LLC  5.75 21-29 15/01S | USD | 594,305.41 | 605,649.75 | 1.74 |
| 450,000 SCIH SALT	6.625 21-29 01/05S | USD | 450,000.00 | 421,382.25 | 1.21 |
| 290,000 SIMMONS FOODS INC  4.625 21-29 01/03S | USD | 292,300.00 | 286,134.30 | 0.82 |
| 700,000 SOUTHWESTERN EN	4.7500 21-32 01/02S | USD | 700,000.00 | 738,258.50 | 2.13 |
| 90,000 SOUTHWESTERN ENERGY 7.75 17-27 01/10S | USD | 80,965.80 | 97,177.50 | 0.28 |
| 450,000 SPECIALTY BUILDING 6.37520-2630/09S | USD | 456,794.04 | 472,088.25 | 1.36 |
| 210,000 SRS DISTRIBUTION INC 6.0 21-29 01/12S | USD | 210,000.00 | 211,378.65 | 0.61 |
| 130,000 SRS DISTRIBUTION INC 6.125 21-29 01/07S | USD | 130,000.00 | 131,484.60 | 0.38 |
| 440,000 TENET HEALTHCAR	4.3750 21-30 15/01S | USD | 440,000.00 | 446,364.60 | 1.29 |
| 120,000 THOR INDUSTRIES	4.0000 21-29 15/10S | USD | 120,000.00 | 118,950.00 | 0.34 |
| 390,000 TRANSDIGM INC	6.375 16-26 15/06S | USD | 356,850.00 | 401,152.05 | 1.16 |
| 390,000 TTM TECHNOLOGIES INC 4 21-29 10/03S | USD | 392,400.00 | 388,153.35 | 1.12 |
| 350,000 UBER TECHNOLOGIES 7.5 19-27 15/09S | USD | 368,450.00 | 381,325.00 | 1.10 |
| 380,000 URBAN ONE INC	7.375 21-28 01/02S | USD | 385,525.00 | 391,952.90 | 1.13 |
| 510,000 US ACUTE CARE S	6.3750 21-26 01/03S | USD | 525,450.20 | 534,755.40 | 1.54 |
| 275,000 USA COMPRESSION PART 6.875 18-26 01/04S | USD | 278,300.00 | 286,301.12 | 0.82 |
| 830,000 VIASAT INC	6.5000 20-28 15/07S | USD | 838,300.00 | 833,249.45 | 2.40 |
| 600,000 WHEEL PROS ESCROW ISS 6.500 21-29 15/05S | USD | 604,175.00 | 576,843.00 | 1.66 |
| Total securities portfolio |  | 32,863,655.34 | 33,694,570.92 | 97.03 |
| Cash at bank/(bank liabilities) |  |  | 263,555.41 | 0.76 |
| Other net assets/(liabilities) |  |  | 766,785.41 | 2.21 |
| Total net assets |  |  | 34,724,911.74 | 100.00 |

Translation (ENFR, 2021-12-31):
# OYSTER
## Consolidé

##### Etats Financiers au 31/12/2021

###### Etat du Patrimoine au 31/12/2021
Exprimé en USD
| Actifs |  | 2.050.741.605,53 |
| --- | --- | --- |
| Portefeuille-titres à la valeur d'évaluation | Note 2 | 1.958.135.042,67 |
| Plus-value non réalisée sur le portefeuille-titres |  | 81.393.966,12 |
| Options achetées à la valeur de marché | Note 2 | 131.521,00 |
| Avoirs en banque et liquidités |  | 73.437.184,67 |
| Dépôts à terme |  | 4.100.000,00 |
| Intérêts à recevoir | Note 2 | 5.067.813,26 |
| Brokers à recevoir |  | 188.818,30 |
| Souscriptions à recevoir |  | 2.706.660,28 |
| Dividendes à recevoir | Note 2 | 545.924,57 |
| Plus-value non réalisée sur contrats de change à terme | Note 2 | 3.881.755,54 |
| Plus-value non réalisée sur "futures" | Note 2 | 846.885,49 |
| A recevoir sur change spot |  | 12.931,12 |
| Autres actifs |  | 1.687.068,63 |
| Passifs |  | 9.477.276,52 |
| Brokers à payer |  | 5.017.942,77 |
| Commission de performance | Note 4 | 1.524,46 |
| Rachats à payer | Note 2 | 1.750.857,62 |
| Commission de gestion et conseil à payer | Note 3 | 1.677.572,56 |
| A payer sur change spot |  | 12.947,65 |
| Autres passifs |  | 1.016.431,46 |
| Valeur nette d'inventaire |  | 2.041.264.329,01 |


###### Etat des Opérations et des Variations des Actifs Nets du 01/01/2021 au 31/12/2021
Exprimé en USD
| Revenus |  | 36.213.306,16 |
| --- | --- | --- |
| Dividendes nets | Note 2 | 18.676.019,10 |
| Intérêts nets sur obligations |  | 17.395.174,76 |
| Intérêts bancaires à vue |  | 35.441,15 |
| Intérêts bancaires à terme |  | 4.281,01 |
| Autres revenus financiers | Note 7 | 52.044,78 |
| Autres revenus |  | 50.345,36 |
| Dépenses |  | 29.879.061,57 |
| Commissions de gestion et de conseil | Note 3 | 19.018.802,28 |
| Commissions de banque dépositaire et sous-dépositaire | Note 6 | 262.413,91 |
| Taxe d'abonnement | Note 5 | 583.375,17 |
| Frais administratifs | Note 3 | 3.843.138,75 |
| Commission de performance | Note 4 | 1.524,46 |
| Intérêts bancaires sur découvert |  | 414.709,41 |
| Frais légaux |  | 472.111,27 |
| Frais de transaction | Note 8 | 1.603.310,53 |
| Autres dépenses | Note 10 | 3.679.675,79 |
| Revenus nets des investissements |  | 6.334.244,59 |
| Bénéfice net / Perte nette réalisé(e) sur : - vente de titres | Note 2 | 109.941.905,35 |
| - options | Note 2 | (3.706.655,77) |
| - contrats de change à terme | Note 2 | (18.156.636,93) |
| - futures | Note 2 | 8.994.051,18 |
| - change | Note 2 | (1.151.702,20) |
| Bénéfice net réalisé |  | 102.255.206,22 |
| Variation de la plus- ou moins-value nette non réalisée sur : - portefeuille-titres |  | 15.589.203,08 |
| - options |  | (371.743,37) |
| - contrats de change à terme |  | 853.641,16 |
| - futures |  | 47.867,31 |
| Augmentation des actifs nets résultant des opérations |  | 118.374.174,40 |
| Dividendes payés | Note 9 | (222.465,43) |
| Souscriptions actions de capitalisation |  | 714.388.798,14 |
| Souscriptions actions de distribution |  | 15.219.191,90 |
| Rachats actions de capitalisation |  | (530.275.979,33) |
| Rachats actions de distribution |  | (18.860.525,19) |
| Augmentation des actifs nets | 298.623.194,49 |
| Réévaluation de la balance d'ouverture | (106.911.213,48) |
| Actifs nets au début de l'année | 1.849.552.348,00 |
| Actifs nets à la fin de l'année | 2.041.264.329,01 |