# EVOLUTION OF SUBSCRIPTIONS, REDEMPTIONS AND THE NET ASSET VALUE
| Evolution of the number of shares in circulation |
| --- |
|  | 30 June 2017 | 31 December 2018 | 31 December 2019 |
| Class | Subscriptions | Redemptions | End of Period | Subscriptions | Redemptions | End of Period | Subscriptions | Redemptions | End of Period |
| A (Dis) | 20,543.00 | 1,446.00 | 19,097.00 | 140,053.89 | 74,263.28 | 84,887.61 | 36,896.31 | 28,113.00 | 93,670.91 |
| A USD (Dis) | 15,000.00 | 1,300.00 | 13,700.00 | 3,724.89 | 483.00 | 16,941.90 | 4,390.00 | 8,251.90 | 13,080.00 |
| B (Cap) | 150,637.00 | 551,907.00 | 1,500,618.00 | 72,671.01 | 953,655.27 | 619,633.74 | 109,294.68 | 181,160.12 | 547,768.30 |
| B USD (Cap) | 38,055.00 | 92,347.00 | 270,304.00 | 154,982.72 | 267,669.23 | 157,617.49 | 14,331.00 | 29,289.49 | 142,659.00 |
| E (Dis) | 0.00 | 0.00 | 0.00 | 2,638.36 | 585.00 | 2,053.36 | 220.00 | 1,953.82 | 319.54 |
| E USD (Dis) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| F (Cap) | 64,006.00 | 129,372.00 | 92,756.00 | 40,410.00 | 41,910.00 | 91,256.00 | 19,896.00 | 26,807.00 | 84,345.00 |
| F USD (Cap) | 0.00 | 0.00 | 4,439.00 | 0.00 | 4,439.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| I | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| J (Cap) | 0.00 | 0.00 | 0.00 | 24,659.90 | 0.00 | 24,659.90 | 0.00 | 1,279.00 | 23,380.90 |
| M (Dis) | 0.00 | 0.00 | 0.00 | 159,046.27 | 10,191.92 | 148,854.35 | 98,720.52 | 19,540.56 | 228,034.32 |
| M USD (Dis) | 0.00 | 0.00 | 0.00 | 2,121.01 | 0.00 | 2,121.01 | 0.00 | 277.00 | 1,844.01 |
| N (Cap) | 0.00 | 0.00 | 0.00 | 509,280.70 | 44,738.16 | 464,542.54 | 99,907.75 | 65,121.89 | 499,328.40 |
| N USD (Cap) | 0.00 | 0.00 | 0.00 | 212,993.88 | 8,753.12 | 204,240.75 | 24,495.93 | 36,674.43 | 192,062.25 |
| P (Cap) | 12,786.00 | 1,096.00 | 23,938.00 | 13,804.00 | 32,757.00 | 4,985.00 | 402.00 | 1,999.00 | 3,388.00 |
| TOTAL |  |  | 1,924,852.00 |  |  | 1,821,793.64 |  |  | 1,829,880.63 |

| Payable and receivable amounts for the UCI |
| --- |
| EUR |
|  | 30 June 2017 | 31 December 2018 | 31 December 2019 |
| Class | Subscriptions | Redemptions | Subscriptions | Redemptions | Subscriptions | Redemptions |
| A (Dis) | 2,303,166.09 | 164,813.78 | 16,327,982.49 | 8,733,132.80 | 4,860,883.96 | 3,975,707.76 |
| A USD (Dis) | 1,537,843.28 | 149,031.74 | 422,559.54 | 58,892.19 | 530,659.13 | 1,121,444.81 |
| B (Cap) | 16,192,882.71 | 58,195,724.38 | 9,010,051.79 | 112,311,206.12 | 14,879,398.49 | 25,945,506.83 |
| B USD (Cap) | 4,116,531.79 | 9,699,591.39 | 19,291,232.03 | 32,799,691.57 | 1,945,782.17 | 4,007,830.10 |
| E (Dis) | 0.00 | 0.00 | 2,101,617.03 | 443,342.25 | 175,740.40 | 1,494,358.21 |
| E USD (Dis) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| F (Cap) | 40,290,128.37 | 79,377,314.30 | 30,428,330.97 | 28,308,530.60 | 16,599,281.42 | 22,902,631.71 |
| F USD (Cap) | 0.00 | 0.00 | 0.00 | 3,132,966.92 | 0.00 | 0.00 |
| I | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| J (Cap) | 0.00 | 0.00 | 618,132,826.68 | 0.00 | 0.00 | 40,263,532.56 |
| M (Dis) | 0.00 | 0.00 | 19,216,076.29 | 1,226,458.27 | 13,470,702.56 | 2,580,432.87 |
| M USD (Dis) | 0.00 | 0.00 | 267,423.86 | 0.00 | 0.00 | 37,717.96 |
| N (Cap) | 0.00 | 0.00 | 60,539,981.28 | 5,525,722.01 | 14,965,177.60 | 9,071,417.18 |
| N USD (Cap) | 0.00 | 0.00 | 26,479,896.70 | 1,139,427.14 | 3,340,462.53 | 5,071,877.25 |
| P (Cap) | 228,342,784.77 | 18,397,523.12 | 262,620,959.13 | 627,601,511.18 | 9,450,448.35 | 48,662,842.01 |
| TOTAL | 292,783,337.01 | 165,983,998.71 | 1,064,838,937.79 | 821,280,881.05 | 80,218,536.61 | 165,135,299.25 |

| net asset value |
| --- |
| EUR |
|  | 30 June 2017 | 31 December 2018 | 31 December 2019 |
| Class | of the subfund | Per share | of the subfund | Per share | of the subfund | Per share |
| A (Dis) | 706,252,672.93 | 111.04 | 984,593,376.14 | 114.35 | 1,220,823,119.62 | 149.56 |
| A USD (Dis) |
| 111.52 | 131.68 | 168.77 |
| B (Cap) |
| 111.07 | 116.12 | 154.08 |
| B USD (Cap) |
| 111.54 | 133.34 | 173.83 |
| E (Dis) |
| 0.00 | 707.05 | 923.67 |
| E USD (Dis) |
| 0.00 | 0.00 | 0.00 |
| F (Cap) |
| 673.25 | 707.06 | 941.13 |
| F USD (Cap) |
| 673.54 | 0.00 | 0.00 |
| I |
| 0.00 | 0.00 | 0.00 |
| J (Cap) |
| 0.00 | 25,332.72 | 33,762.81 |
| M (Dis) |
| 0.00 | 114.63 | 149.78 |
| M USD (Dis) |
| 0.00 | 131.59 | 168.51 |
| N (Cap) |
| 0.00 | 116.37 | 154.76 |
| N USD (Cap) |
| 0.00 | 133.62 | 174.64 |
| 18,395.20 | 19,394.27 | 25,880.52 |
| P (Cap) |
| TOTAL | 706,252,672.93 |  | 984,593,376.14 |  | 1,220,823,119.62 |  |

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Translation (ENFR, 2019-12-31):
# EVOLUTION DES SOUSCRIPTIONS, DES REMBOURSEMENTS ET DE LA VALEUR NETTE D’INVENTAIRE
| Evolution du nombre d'actions en circulation |
| --- |
|  | 30 juin 2017 | 31 décembre 2018 | 31 décembre 2019 |
| Classe | Souscrites | Remboursées | Fin de période | Souscrites | Remboursées | Fin de période | Souscrites | Remboursées | Fin de période |
| A (Dis) | 3.025,00 | 17.375,00 | 18.239,00 | 3.768,00 | 15.098,00 | 6.909,00 | 322,26 | 806,00 | 6.425,26 |
| B (Cap) | 26.188,00 | 31.092,00 | 24.067,00 | 6.452,00 | 14.976,00 | 15.543,00 | 1.500,00 | 5.066,00 | 11.977,00 |
| E (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 44.000,00 | 0,00 | 44.000,00 |
| F (Cap) | 189.511,00 | 96.842,00 | 540.252,00 | 171.560,51 | 293.280,00 | 418.532,51 | 71.702,00 | 194.881,00 | 295.353,51 |
| I (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| J (Cap) | 0,00 | 0,00 | 0,00 | 4.519,00 | 0,00 | 4.519,00 | 0,00 | 0,00 | 4.519,00 |
| M (Dis) | 0,00 | 0,00 | 0,00 | 6.920,90 | 495,00 | 6.425,90 | 0,00 | 259,94 | 6.165,96 |
| N (Cap) | 0,00 | 0,00 | 0,00 | 2.379,38 | 204,98 | 2.174,40 | 0,00 | 129,96 | 2.044,44 |
| P (Cap) | 879,00 | 0,00 | 879,00 | 4.055,00 | 1.289,00 | 3.645,00 | 22,00 | 1.401,00 | 2.266,00 |
| V (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| W (Cap) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| Z | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| TOTAL |  |  | 583.437,00 |  |  | 457.748,81 |  |  | 372.751,17 |

| Montants payés et reçus par l’OPC |
| --- |
| EUR |
|  | 30 juin 2017 | 31 décembre 2018 | 31 décembre 2019 |
| Classe | Souscrites | Remboursées | Souscrites | Remboursées | Souscrites | Remboursées |
| A (Dis) | 1.347.363,45 | 7.839.228,96 | 1.669.068,01 | 6.662.095,59 | 143.223,36 | 359.311,38 |
| B (Cap) | 12.600.083,46 | 14.802.135,23 | 3.109.384,57 | 7.192.165,24 | 745.260,00 | 2.510.477,49 |
| E (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 19.901.640,00 | 0,00 |
| F (Cap) | 91.385.397,22 | 46.614.013,76 | 83.395.028,13 | 141.940.901,64 | 35.778.036,90 | 97.252.001,28 |
| I (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| J (Cap) | 0,00 | 0,00 | 113.804.780,03 | 0,00 | 0,00 | 0,00 |
| M (Dis) | 0,00 | 0,00 | 3.052.388,54 | 215.654,40 | 0,00 | 117.329,88 |
| N (Cap) | 0,00 | 0,00 | 1.150.272,04 | 97.824,48 | 0,00 | 63.191,59 |
| P (Cap) | 21.975.000,00 | 0,00 | 102.844.935,60 | 32.683.200,83 | 580.662,50 | 35.968.588,03 |
| V (Dis) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| W (Cap) | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| Z | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
| TOTAL | 127.307.844,13 | 69.255.377,95 | 309.025.856,92 | 188.791.842,18 | 57.148.822,76 | 136.270.899,65 |

| Valeur nette d'inventaire |
| --- |
| EUR |
|  | 30 juin 2017 | 31 décembre 2018 | 31 décembre 2019 |
| Classe | du compartiment | d'une action | du compartiment | d'une action | du compartiment | d'une action |
| A (Dis) | 303.004.938,97 | 447,04 | 425.466.747,65 | 440,13 | 359.399.169,07 | 449,42 |
| B (Cap) | 480,08 | 481,00 | 496,25 |
| E (Dis) | 0,00 | 0,00 | 449,56 |
| F (Cap) | 483,31 | 486,03 | 502,47 |
| I (Dis) | 0,00 | 0,00 | 0,00 |
| J (Cap) | 0,00 | 25.427,19 | 26.308,91 |
| M (Dis) | 0,00 | 440,67 | 449,81 |
| N (Cap) | 0,00 | 481,63 | 497,74 |
| P (Cap) | 25.242,76 | 25.444,25 | 26.346,32 |
| V (Dis) | 0,00 | 0,00 | 0,00 |
| W (Cap) | 0,00 | 0,00 | 0,00 |
| Z | 0,00 | 0,00 | 0,00 |
| TOTAL | 303.004.938,97 |  | 425.466.747,65 |  | 359.399.169,07 |  |

2.8%
2.7%
1.3%
1.1%
3.2%
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