# COMPOSITION OF THE ASSETS
| Description | Quantity at 31 December 2020 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Transferable securities admitted to an official stock exchange listing |  |  |  | 12,546,712.50 |  | 1.00% | 0.94% |
| Bonds and other debt securities |  |  |  |
| State |  |  |  |
| Italy |  |  |  |
| ITALY 2,80 18-28 | 10,500,000 | EUR | 119.49 |
| United States of America |  |  |  | 12,546,712.50 |  | 1.00% | 0.94% |
| US TREA 2,50 16-46 | 6,000,000 | USD | 119.45 | 5,857,315.78 | 0.47% | 0.44% |
| US TREA 3,125 18-28 | 47,000,000 | USD | 118.37 | 45,468,169.14 | 3.63% | 3.39% |
|  |  |  |  | 51,325,484.92 |  | 4.10% | 3.83% |
| Total - State |  |  |  | 63,872,197.42 | 5.10% | 4.76% |
| Private corporation |  |  |  |  |  |  |
| Belgium |  |  |  |  |  |  |
| COFINIMMO 2,00 16-24 | 2,500,000 | EUR | 101.79 | 2,544,775.00 | 0.20% | 0.19% |
|  |  |  |  | 2,544,775.00 |  | 0.20% | 0.19% |
| Total - Private corporation |  |  |  | 2,544,775.00 | 0.20% | 0.19% |
| Total - Bonds and other debt securities |  |  |  | 66,416,972.42 | 5.31% | 4.95% |
| UCI with variable number of shares |  |  |  |  |  |  |
| Shares |  |  |  |  |  |  |
| Directive 2009/65/EC - Registered with FSMA |  |  |  |  |  |  |
| ABERDEEN ST I JAP EQ | 3,020,000 | JPY | 598 | 14,290,574.75 | 1.14% | 1.07% |
| AMUNDI EU EQ J2C | 58,000 | EUR | 930.31 | 53,957,980.00 | 4.31% | 4.03% |
| DPAM CPB EQ US BV-P | 2,245 | EUR | 19,024.28 | 42,709,508.60 | 3.41% | 3.19% |
| DPAM CPB EQ US ID-P | 342 | EUR | 28,740.44 | 9,829,230.48 | 0.79% | 0.73% |
| DPAM EQ L EUR BVL P | 1,480 | EUR | 12,002.26 | 17,763,344.80 | 1.42% | 1.33% |
| DPAM IB EQ EU SC-P | 120,500 | EUR | 292.06 | 35,193,230.00 | 2.81% | 2.63% |
| DPAM IB EQ EU SUS-P | 2,424 | EUR | 36,048.02 | 87,374,488.60 | 6.98% | 6.52% |
| DPAM IB EQ NWG SUS-P | 1,275 | EUR | 41,531.23 | 52,952,318.25 | 4.23% | 3.95% |
| DPAM IB EQ W SUS-P | 251,400 | EUR | 326.00 | 81,956,400.00 | 6.55% | 6.11% |
| DPAM INV B EQ DS P | 790 | EUR | 25,993.89 | 20,535,173.10 | 1.64% | 1.53% |
| DPAM INV B EQ ES P | 320 | EUR | 25,147.35 | 8,047,152.00 | 0.64% | 0.60% |
| DPAM L EQ OPPORT P | 1,168 | EUR | 26,607.39 | 31,077,431.52 | 2.48% | 2.32% |
| FEDER HERMES GL EQ J | 6,900,000 | EUR | 3.45 | 23,782,920.00 | 1.90% | 1.77% |
| FS STEW GL EMG MKT | 2,880,000 | GBP | 5.92 | 19,051,886.94 | 1.52% | 1.42% |
| LM GL ROYCE US SC OP | 104,000 | USD | 298.29 | 25,354,223.37 | 2.03% | 1.89% |
| MFS MF EU VAL I1 | 67,800 | EUR | 373.51 | 25,323,978.00 | 2.02% | 1.89% |
| MSIF US ADV ZC | 306,000 | USD | 185.94 | 46,502,096.36 | 3.72% | 3.47% |
| T.ROWE PR US L C GR | 565,000 | USD | 80.45 | 37,149,483.06 | 2.97% | 2.77% |
| Total - Directive 2009/65/EC - Registered with FSMA |  |  |  | 632,851,419.83 | 50.56% | 47.21% |
| Not directive 2009/65/EC - Not registered with FSMA |  |  |  |  |  |  |
| POLEN USD-INSTL-D-AC | 3,330,000 | USD | 16.03 | 43,627,068.78 | 3.49% | 3.25% |
| VERITAS ASIAN US-C C | 49,500 | USD | 793.82 | 32,114,667.89 | 2.57% | 2.40% |
| Total - Not directive 2009/65/EC - Not registered with FSMA |  |  |  | 75,741,736.67 | 6.05% | 5.65% |
| Total - Shares |  |  |  | 708,593,156.50 | 56.61% | 52.86% |

| Description | Quantity at 31 December 2020 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Real estate |  |  |  |  |  |  |  |
| Directive 2009/65/EC - Registered with FSMA |  |  |  |  |  |  |
| DPAM IB RE EUROPE-P | 30,000 | EUR | 560.69 | 16,820,700.00 | 1.34% | 1.25% |
| DPAM REAL EST EMU P | 19 | EUR | 304,981.27 | 5,794,644.13 | 0.46% | 0.43% |
| Total - Directive 2009/65/EC - Registered with FSMA |  |  |  | 22,615,344.13 | 1.81% | 1.69% |
| Total - Real estate |  |  |  | 22,615,344.13 | 1.81% | 1.69% |
| Bonds and other debt securities |  |  |  |  |  |  |
| Directive 2009/65/EC - Registered with FSMA |  |  |  |  |  |  |
| DPAM BD L CO EU23 P | 40 | EUR | 25,595.16 | 1,023,806.40 | 0.08% | 0.08% |
| DPAM BL C EUR PC | 630 | EUR | 27,527.46 | 17,342,299.80 | 1.39% | 1.29% |
| DPAM BL EUR SEL PC | 220 | EUR | 29,503.59 | 6,490,789.80 | 0.52% | 0.48% |
| DPAM BL GOV GLB PC | 355 | EUR | 27,448.98 | 9,744,387.90 | 0.78% | 0.73% |
| DPAM C B BDS EUR M P | 1,063 | EUR | 26,912.72 | 28,608,221.36 | 2.29% | 2.13% |
| DPAM CB CORP BD P 23 | 700 | EUR | 25,938.27 | 18,156,789.00 | 1.45% | 1.35% |
| DPAM HB BDS G IL-P | 140,000 | EUR | 146.35 | 20,489,000.00 | 1.64% | 1.53% |
| DPAM HB BDS G IL-PH | 280,000 | EUR | 128.75 | 36,050,000.00 | 2.88% | 2.69% |
| DPAM IB BDS EUR IG-P | 110,000 | EUR | 78.43 | 8,627,300.00 | 0.69% | 0.64% |
| DPAM IB BONDS EUR-P | 864,000 | EUR | 95.93 | 82,883,520.00 | 6.62% | 6.18% |
| DPAM L BD EM SUS P | 165,000 | EUR | 142.09 | 23,444,850.00 | 1.87% | 1.75% |
| DPAM L BD EUR HYST P | 10,000 | EUR | 145.81 | 1,458,100.00 | 0.12% | 0.11% |
| DPAM L BD EUR QUAL P | 167,000 | EUR | 662.93 | 110,709,310.00 | 8.84% | 8.26% |
| DPAM L BDS CLIM TR P | 611 | EUR | 26,312.20 | 16,076,754.20 | 1.28% | 1.20% |
| DPCAM L BD U UNC P | 222,000 | EUR | 202.08 | 44,861,760.00 | 3.58% | 3.35% |
| INVESCO EUR CORP BD | 800,000 | EUR | 20.44 | 16,350,400.00 | 1.31% | 1.22% |
| Total - Directive 2009/65/EC - Registered with FSMA |  |  |  | 442,317,288.46 | 35.34% | 33.00% |
| Not directive 2009/65/EC - Not registered with FSMA |  |  |  |  |  |  |
| DEGROOF PET FR CC SI | 1,440 | EUR | 5,790.55 | 8,338,392.00 | 0.67% | 0.62% |
| Total - Not directive 2009/65/EC - Not registered with FSMA |  |  |  | 8,338,392.00 | 0.67% | 0.62% |
| Total - Bonds and other debt securities |  |  |  | 450,655,680.46 | 36.00% | 33.62% |
| Total - UCI with variable number of shares |  |  |  | 1,181,864,181.09 | 94.42% | 88.17% |
| Total - Transferable securities admitted to an official stock exchange listing |  |  |  | 1,248,281,153.51 | 99.72% | 93.12% |
| Other transferable securities |  |  |  |  |  |  |
| Financial derivatives |  |  |  |  |  |  |
| Foreign exchange |  |  |  |  |  |  |
| EUR |  |  |  |  |  |  |
| V USD EUR 040221 | 88,000,000 | EUR | 1.00 | 88,000,000.00 | 7.03% | 6.56% |
| USD |  |  |  | 88,000,000.00 |  | 7.03% | 6.56% |
| V USD EUR 040221 | -103,546,080 | USD | 0.82 | -84,556,848.30 | -6.76% | -6.31% |
|  |  |  |  | -84,556,848.30 |  | -6.76% | -6.31% |
| Total - Foreign exchange |  |  |  | 3,443,151.70 | 0.28% | 0.26% |
| Total - Financial derivatives |  |  |  | 3,443,151.70 | 0.28% | 0.26% |
| Total - Other transferable securities |  |  |  | 3,443,151.70 | 0.28% | 0.26% |
| Total - portfolio |  |  |  | 1,251,724,305.21 | 100.00% | 93.38% |

| Description | Quantity at 31 December 2020 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Collatéral |  |  |  | 0.00 |  |  | 0.00% |
| Deposits and liquid assets |  |  |  |
| deposit and liquid assets |  |  |  |
| Banque Degroof Petercam | JPY | 4,244,324.48 | 0.32% |
| Banque Degroof Petercam | USD | 29,114,690.75 | 2.17% |
|  | EUR | 8.43 | 0.00% |
| Banque Degroof Petercam | GBP | 21,305,956.46 | 1.59% |
| Banque Degroof Petercam | EUR | 14,412,425.48 | 1.08% |
| Banque Degroof Petercam | CHF | 10,351,941.18 | 0.77% |
| Total - deposit and liquid assets |  | 79,429,346.78 | 5.93% |
| Others |  |  |  |
| D‚p“ts de garantie | EUR | 3,810,000.00 | 0.28% |
| Total - Others |  | 3,810,000.00 | 0.28% |
| Total - Deposits and liquid assets |  | 83,239,346.78 | 6.21% |
| Other receivables and other payables |  | 5,265,653.57 | 0.39% |
| Others |  | 224,812.07 | 0.02% |
| Total net assets |  | 1,340,454,117.63 | 100,00% |

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Translation (ENFR, 2020-12-31):
# COMPOSITION DES ACTIFS
| Dénomination | Quantité au 31 décembre 2020 | 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 |  |  |  | 2.150.865,00 |  | 0,99% | 0,95% |
| Obligations et autres titres de créances |  |  |  |
| Emis(es) par état |  |  |  |
| Italie |  |  |  |
| ITALY 2,80 18-28 | 1.800.000 | EUR | 119,49 |
| États-Unis d'Amérique |  |  |  | 2.150.865,00 |  | 0,99% | 0,95% |
| US TREA 2,50 16-46 | 1.000.000 | USD | 119,45 | 976.219,30 | 0,45% | 0,43% |
| US TREA 2,75 18-23 | 1.200.000 | USD | 106,71 | 1.046.532,13 | 0,48% | 0,46% |
|  |  |  |  | 2.022.751,43 |  | 0,93% | 0,90% |
| Total - Emis(es) par état |  |  |  | 4.173.616,43 | 1,92% | 1,85% |
| Total - Obligations et autres titres de créances |  |  |  | 4.173.616,43 | 1,92% | 1,85% |
| OPC à nombre variable de parts |  |  |  |  |  |  |
| Actions |  |  |  |  |  |  |
| Directive 2009/65/CE & Inscrit auprès de la FSMA |  |  |  |  |  |  |
| ABERDEEN ST I JAP EQ | 675.000 | JPY | 598 | 3.194.085,42 | 1,47% | 1,42% |
| AMUNDI EU EQ J2C | 12.000 | EUR | 930,31 | 11.163.720,00 | 5,15% | 4,95% |
| DPAM CPB EQ JP ID-P | 58 | EUR | 18.608,47 | 1.079.291,26 | 0,50% | 0,48% |
| DPAM CPB EQ US BV-P | 685 | EUR | 19.024,28 | 13.031.631,80 | 6,01% | 5,78% |
| DPAM CPB EQ US ID-P | 314 | EUR | 28.740,44 | 9.024.498,16 | 4,16% | 4,00% |
| DPAM EQ L EUR BVL P | 376 | EUR | 12.002,26 | 4.512.849,76 | 2,08% | 2,00% |
| DPAM IB EQ EU SC-P | 29.000 | EUR | 292,06 | 8.469.740,00 | 3,90% | 3,76% |
| DPAM IB EQ EU SUS-P | 682 | EUR | 36.048,02 | 24.597.114,11 | 11,34% | 10,91% |
| DPAM IB EQ NWG SUS-P | 274 | EUR | 41.531,23 | 11.379.557,02 | 5,25% | 5,05% |
| DPAM IB EQ W SUS-P | 44.900 | EUR | 326,00 | 14.637.400,00 | 6,75% | 6,49% |
| DPAM INV B EQ DS P | 176 | EUR | 25.993,89 | 4.574.924,64 | 2,11% | 2,03% |
| DPAM L EQ OPPORT P | 236 | EUR | 26.607,39 | 6.279.344,04 | 2,89% | 2,79% |
| FEDER HERMES GL EQ J | 1.800.000 | EUR | 3,45 | 6.204.240,00 | 2,86% | 2,75% |
| FS STEW GL EMG MKT | 670.000 | GBP | 5,92 | 4.432.209,81 | 2,04% | 1,97% |
| LM GL ROYCE US SC OP | 24.800 | USD | 298,29 | 6.046.007,11 | 2,79% | 2,68% |
| MFS MF EU VAL I1 | 16.800 | EUR | 373,51 | 6.274.968,00 | 2,89% | 2,78% |
| MSIF US ADV ZC | 66.700 | USD | 185,94 | 10.136.241,27 | 4,67% | 4,50% |
| T.ROWE PR US L C GR | 107.000 | USD | 80,45 | 7.035.388,83 | 3,24% | 3,12% |
| Total - Directive 2009/65/CE & Inscrit auprès de la FSMA |  |  |  | 152.073.211,23 | 70,10% | 67,46% |
| Directive 2009/65/CE & Non Inscrit auprès de la FSMA |  |  |  |  |  |  |
| POLEN USD-INSTL-D-AC | 760.000 | USD | 16,03 | 9.956.928,61 | 4,59% | 4,42% |
| VERITAS ASIAN US-C C | 11.000 | USD | 793,82 | 7.136.592,87 | 3,29% | 3,17% |
| Total - Directive 2009/65/CE & Non Inscrit auprès de la FSMA |  |  |  | 17.093.521,48 | 7,88% | 7,58% |
| Total - Actions |  |  |  | 169.166.732,71 | 77,98% | 75,04% |
| Immobilier |  |  |  |  |  |  |
| Directive 2009/65/CE & Inscrit auprès de la FSMA |  |  |  |  |  |  |
| DPAM IB RE EUROPE-P | 4.650 | EUR | 560,69 | 2.607.208,50 | 1,20% | 1,16% |
| DPAM REAL EST EMU P | 5 | EUR | 304.981,27 | 1.524.906,35 | 0,70% | 0,68% |
| Total - Directive 2009/65/CE & Inscrit auprès de la FSMA |  |  |  | 4.132.114,85 | 1,90% | 1,83% |

| Dénomination | Quantité au 31 décembre 2020 | Devise | Cours en devise | Evaluation EUR | % détenu par l'OPC | % porte- feuille | % actif net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total - Immobilier |  |  |  | 4.132.114,85 |  | 1,90% | 1,83% |
| Obligations et autres titres de créance |  |  |  |  |  |  |
| Directive 2009/65/CE & Inscrit auprès de la FSMA |  |  |  |  |  |  |
| DPAM BL GOV GLB PC | 78 | EUR | 27.448,98 | 2.141.020,44 | 0,99% | 0,95% |
| DPAM C B BDS EUR M P | 49 | EUR | 26.912,72 | 1.318.723,28 | 0,61% | 0,58% |
| DPAM CB CORP BD P 23 | 75 | EUR | 25.938,27 | 1.945.370,25 | 0,90% | 0,86% |
| DPAM HB BDS G IL-P | 11.000 | EUR | 146,35 | 1.609.850,00 | 0,74% | 0,71% |
| DPAM HB BDS G IL-PH | 16.800 | EUR | 128,75 | 2.163.000,00 | 1,00% | 0,96% |
| DPAM IB BONDS EUR-P | 62.000 | EUR | 95,93 | 5.947.660,00 | 2,74% | 2,64% |
| DPAM L BD EM SUS P | 18.700 | EUR | 142,09 | 2.657.083,00 | 1,22% | 1,18% |
| DPAM L BD EUR QUAL P | 18.100 | EUR | 662,93 | 11.999.033,00 | 5,53% | 5,32% |
| DPCAM L BD U UNC P | 39.000 | EUR | 202,08 | 7.881.120,00 | 3,63% | 3,50% |
| Total - Directive 2009/65/CE & Inscrit auprès de la FSMA |  |  |  | 37.662.859,97 | 17,36% | 16,71% |
| Directive 2009/65/CE & Non Inscrit auprès de la FSMA |  |  |  |  |  |  |
| DEGROOF PET FR CC SI | 260 | EUR | 5.790,55 | 1.505.543,00 | 0,69% | 0,67% |
| Total - Directive 2009/65/CE & Non Inscrit auprès de la FSMA |  |  |  | 1.505.543,00 | 0,69% | 0,67% |
| Total - Obligations et autres titres de créance |  |  |  | 39.168.402,97 | 18,06% | 17,37% |
| Total - OPC à nombre variable de parts |  |  |  | 212.467.250,53 | 97,95% | 94,24% |
| Total - Valeurs mobilières admises à la cote officielle d'une bourse de valeurs |  |  |  | 216.640.866,96 | 99,87% | 96,10% |
| Autres valeurs mobilières |  |  |  |  |  |  |
| Instruments financiers dérivés |  |  |  |  |  |  |
| Change à terme |  |  |  |  |  |  |
| EUR |  |  |  |  |  |  |
| V EUR GBP 040221 | -2.511.575 | EUR | 0,90 | -2.512.969,41 | -1,16% | -1,11% |
| V USD EUR 040121 | 3.544.375 | EUR | 1,00 | 3.544.374,75 | 1,63% | 1,57% |
| V USD EUR 040221 | 7.000.000 | EUR | 1,00 | 7.000.000,00 | 3,23% | 3,10% |
| GBP |  |  |  | 8.031.405,34 |  | 3,70% | 3,56% |
| V EUR GBP 040221 | 2.300.000 | GBP | 1,00 | 2.569.545,30 | 1,18% | 1,14% |
| USD |  |  |  | 2.569.545,30 |  | 1,18% | 1,14% |
| V USD EUR 040121 | -4.300.000 | USD | 0,82 | -3.514.043,75 | -1,62% | -1,56% |
| V USD EUR 040221 | -8.333.500 | USD | 0,82 | -6.805.226,19 | -3,14% | -3,02% |
|  |  |  |  | -10.319.269,94 |  | -4,76% | -4,58% |
| Total - Change à terme |  |  |  | 281.680,70 | 0,13% | 0,12% |
| Total - Instruments financiers dérivés |  |  |  | 281.680,70 | 0,13% | 0,12% |
| Total - Autres valeurs mobilières |  |  |  | 281.680,70 | 0,13% | 0,12% |
| Total - portefeuille |  |  |  | 216.922.547,66 | 100,00% | 96,22% |
| Collatéral |  |  |  | 0,00 |  | 0,00% |
| Dépôts et Liquidités |  |  |  |  |  |  |
| Avoirs bancaires à vue |  |  |  |  |  |  |

| Dénomination | Quantité au 31 décembre 2020 | Devise | Cours en devise | Evaluation EUR | % détenu par l'OPC | % porte- feuille | % actif net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Banque Degroof Petercam |  | JPY |  | 88.048,58 |  |  | 0,04% |
| Compte Courant | USD | 8,66 | 0,00% |
| Banque Degroof Petercam | USD | 431.752,31 | 0,19% |
| Banque Degroof Petercam | GBP | 1.157.220,84 | 0,51% |
| Banque Degroof Petercam | EUR | 2.465.624,09 | 1,09% |
| Banque Degroof Petercam | CHF | 2.215.561,81 | 0,98% |
| Total - Avoirs bancaires à vue |  | 6.358.216,29 | 2,82% |
| Total - Dépôts et Liquidités |  | 6.358.216,29 | 2,82% |
| Créances et dettes diverses |  | 2.139.491,67 | 0,95% |
| Autres |  | 23.142,21 | 0,01% |
| Actif Net Total |  | 225.443.397,83 | 100,00% |

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