# BNP PARIBAS BOND 6M (ex BNP PARIBAS BOND CASH EQUIVALENT)
Fonds Commun de Placement (Mutual Fund)
Management company:
BNP PARIBAS ASSET MANAGEMENT France
1 boulevard Haussmann
75009 Paris, France

## Statutory Auditor's report on the annual financial statements
Financial year ended 31 March 2020
To unitholders of the BNP PARIBAS BOND 6M Fund (formerly BNP PARIBAS BOND CASH EQUIVALENT),

###### Opinion
In performing the task entrusted to us by the management company, we carried out the audit of the annual financial statements of the BNP PARIBAS BOND 6M (formerly BNP PARIBAS BOND CASH EQUIVALENT) undertaking for collective investment established in the form of a Mutual Fund (Fonds Commun de Placement, FCP) for the financial year ended 31 March 2020, which are attached to this report. These accounts have been established by the management company on the basis of the available elements in the context of an evolving Covid-19 crisis.
We certify that the annual financial statements are in conformity with French accounting rules and principles, accurate and consistent, and give a true and fair view of the financial performance of the previous financial year as well as the financial position and assets of the Fund at the end of this financial year.

###### Basis of opinion on the annual financial statements Audit terms of reference
We have conducted our audit in accordance with the standards of professional practice
applicable in France. We believe that the evidence gathered is sufficient and appropriate to justify our opinion.
Société par actions simplifiée (simplified joint-stock company) with capital of €2,188,160 Accounting firm registered with the Paris Île-de-France Tableau de l'Ordre
Auditing firm and member of the Compagnie Régionale de Versailles (Regional Association of Statutory Auditors) Nanterre Trade & Companies Register no. 572 028 041
VAT: FR 02 572 028 041
An entity of the Deloitte network
Our responsibilities pursuant to these standards are set out in the "Statutory Auditor's responsibilities regarding the audit of the annual financial statements" section of this report.
Independence
We conducted our audit mission in line with the applicable rules of independence, from 30 March 2019 until the date of issue of our report, and, in particular, we did not provide any services forbidden by the French Code of Ethics for Statutory Auditors.

###### Justification of assessments
In accordance with the provisions of Articles L. 823-9 and R. 823-7 of the French Commercial Code relating to the justification of our assessments, we would inform you that our most significant assessments, in our professional opinion, were based on the appropriateness of the accounting principles applied, particularly as regards the financial instruments in the portfolio, and the overall presentation of the annual financial statements, pursuant to the chart of accounts for open-ended undertakings for collective investment.
The assessments were made as part of our audit of the annual financial statements, taken as a whole, and therefore contributed to the formation of the opinion expressed in the first part of this report. We have no comment to make on any individual aspect of these annual financial statements.

###### Specific verifications
In accordance with the standards of professional practice applicable in France, we have also conducted the specific verifications required by the legal and regulatory provisions.
We have no observations to make concerning the fairness and the consistency with the annual financial statements of the data provided in the management company's management report.

###### Responsibilities of the management company relating to the annual financial statements
It is the management company's responsibility to prepare annual financial statements that give a true and fair view, in accordance with French accounting rules and principles, and to implement the internal controls it deems necessary for the preparation of annual financial statements that do not include any material misstatement, whether due to fraud or error.
When preparing the annual financial statements, it is the management company’s responsibility to assess the Fund’s ability to continue as a going concern, to present in said financial statements, where applicable, the necessary information relating to its viability as a going concern and to apply the going concern accounting policy, unless it intends to wind up the Fund or to cease trading.
The annual financial statements have been prepared by the management company.

###### Statutory Auditor's responsibilities regarding the audit of the annual financial statements
It is our responsibility to draw up a report on the annual financial statements. Our aim is to obtain reasonable assurance that the annual financial statements, taken as a whole, are free of material misstatement. Reasonable assurance corresponds to a high level of assurance, but does not guarantee that an audit performed in accordance with the standards of professional practice can systematically detect any material misstatement.
Misstatements may arise from fraud or error and are considered material where it can reasonably be expected that, taken individually or together, they may influence the economic decisions made by users of the annual financial statements that are based upon such misstatements.
As specified by Article L. 823-10-1 of the French Commercial Code, our mission is to certify the financial statements, and not to guarantee the viability or the quality of the management of your Fund.
As part of an audit performed in accordance with the standards of professional practice applicable in France, the statutory auditor exercises their professional judgement throughout this audit. In addition:
- they identify and assess the risks that the annual financial statements may contain material misstatement, whether due to fraud or error, set out and implement the audit procedures intended to counter these risks, and collate the items that they deem sufficient and appropriate to justify their opinion. The risk of non-detection of a material misstatement due to fraud is higher than that of a material misstatement due to an error, since fraud may involve collusion, forgery, deliberate omissions, misrepresentation or the circumvention of internal control processes;
- they take note of the internal control processes relevant to the audit so as to set out audit procedures that are appropriate to the circumstances, and not to express an opinion on the effectiveness of the internal control processes;
- they assess the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the management company, as well as the information provided in their regard in the annual financial statements;
- they assess the appropriateness of the application by the management company of the going concern accounting policy and, based on the evidence gathered, whether or not there is significant uncertainty relating to events or circumstances that may affect the Fund’s ability to continue as a going concern. This assessment is based on the evidence gathered up to the date of their report, on the understanding that subsequent events or circumstances may affect its viability as a going concern. If they conclude that there is significant uncertainty, they draw the attention of the reader of their report to the information provided in the annual financial statements about this uncertainty or, if this information is not provided or is not relevant, they issue a certification with a reservation or a refusal to certify;
- they appraise the overall presentation of the annual financial statements and assess whether said statements reflect the transactions and underlying events such that they provide a true and fair view thereof.

In view of the delay in obtaining certain information required for the completion of our work, this report is dated 23 July 2020.
Paris La Défense, 23 July 2020
The Statutory Auditor Deloitte & Associés
Stéphane Collas	Jean-Marc Lecat
Assets
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Net fixed assets | - | - |
| Deposits | - | - |
| Financial instruments | 1,461,639,382.60 | 1,232,212,418.55 |
| Equities and equivalent securities | - | - |
| Traded on a regulated or equivalent market | - | - |
| Not traded on a regulated or equivalent market | - | - |
| Bonds and equivalent securities | 344,149,735.04 | 275,793,825.73 |
| Traded on a regulated or equivalent market | 344,149,735.04 | 275,793,825.73 |
| Not traded on a regulated or equivalent market | - | - |
| Debt securities | 971,133,129.72 | 845,055,560.61 |
| Traded on a regulated or equivalent market – Negotiable debt securities | 139,841,284.99 | 125,958,116.95 |
| Traded on a regulated or equivalent market – Other debt securities | 831,291,844.73 | 719,097,443.66 |
| Not traded on a regulated or equivalent market | - | - |
| Securities in undertakings for collective investment | 146,074,381.61 | 111,363,032.21 |
| Retail UCITS and AIFs and their equivalents from other European Union member states intended for non-professional investors | 146,074,381.61 | 111,363,032.21 |
| Other funds and their equivalents from other European Union member states intended for non-professional investors | - | - |
| Professional retail investment funds and their equivalents from other European Union member states and listed securitisation undertakings | - | - |
| Other professional investment funds and their equivalents from other European Union member states and unlisted securitisation undertakings | - | - |
| Other non-European undertakings | - | - |
| Temporary securities transactions | - | - |
| Receivables representing securities received under repurchase agreements | - | - |
| Receivables representing loaned securities | - | - |
| Borrowed securities | - | - |
| Securities assigned under repurchase agreements | - | - |
| Other temporary transactions | - | - |
| Forward financial instruments | 282,136.23 | - |
| Transactions on a regulated or equivalent market | - | - |
| Other transactions | 282,136.23 | - |
| Other financial instruments | - | - |
| Receivables | 883,451.11 | 258,979.87 |
| Forward foreign exchange transactions | 8,920.45 | 8,979.87 |
| Other | 874,530.66 | 250,000.00 |
| Financial accounts | 55,453,144.34 | 10,843.07 |
| Cash | 55,453,144.34 | 10,843.07 |
| TOTAL ASSETS | 1,517,975,978.05 | 1,232,482,241.49 |

Liabilities
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Shareholders' equity | - | - |
| Capital | 1,489,876,388.65 | 1,210,591,716.84 |
| Undistributed previous net capital gains or losses (a) | - | - |
| Balance carried forward (a) | 177.84 | 171.61 |
| Net capital gains or losses for the financial year (a, b) | -25,237,460.97 | -7,846,049.55 |
| Profit/loss for the financial year (a, b) | 21,557,922.33 | 19,347,151.03 |
| Total shareholders' equity (= Amount representing net assets) | 1,486,197,027.85 | 1,222,092,989.93 |
| Financial instruments | 638,883.19 | 276,095.00 |
| Disposals of financial instruments | - | - |
| Temporary securities transactions | - | - |
| Debts representing securities assigned under repurchase agreements | - | - |
| Debts representing borrowed securities | - | - |
| Other temporary transactions | - | - |
| Forward financial instruments | 638,883.19 | 276,095.00 |
| Transactions on a regulated or equivalent market | - | - |
| Other transactions | 638,883.19 | 276,095.00 |
| Debts | 31,140,067.01 | 10,113,156.56 |
| Forward foreign exchange transactions | 8,707.85 | 8,912.70 |
| Other | 31,131,359.16 | 10,104,243.86 |
| Financial accounts | - | - |
| Bank loans and overdrafts | - | - |
| Borrowings | - | - |
| TOTAL LIABILITIES | 1,517,975,978.05 | 1,232,482,241.49 |

- Including accruals and deferrals.
- Less interim payments made during the year.

Off-balance sheet
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Hedging transactions |  |  |
| Commitments on regulated or equivalent markets |  |  |
| Over-the-counter commitments |  |  |
| Other commitments |  |  |
| Other transactions |  |  |
| Commitments on regulated or equivalent markets |  |  |
| Futures |  |  |
| purchase EURO-SCHATZ FUTURE 08/06/2020 | 33,657,000.00 | - |
| Over-the-counter commitments |  |  |
| Interest rate swaps |  |  |
| purchase IRS 30 | - | 50,000,000.00 |
| purchase IRS 31 | - | 50,000,000.00 |
| purchase IRS 32 | - | 50,000,000.00 |
| purchase IRS 33 | - | 50,000,000.00 |
| purchase IRS 34 | - | 50,000,000.00 |
| purchase IRS 35 | - | 50,000,000.00 |
| purchase IRS 36 | - | 50,000,000.00 |
| purchase IRS 38 | - | 50,000,000.00 |
| purchase IRS 39 | - | 50,000,000.00 |
| purchase IRS 40 | - | 50,000,000.00 |
| purchase IRS 41 | - | 50,000,000.00 |
| purchase IRS 42 | - | 50,000,000.00 |
| purchase IRS 43 | - | 50,000,000.00 |
| purchase IRS 44 | - | 50,000,000.00 |
| purchase IRS 45 | - | 50,000,000.00 |
| purchase IRS 47 | - | 50,000,000.00 |
| purchase IRS 50 | - | 50,000,000.00 |
| purchase IRS 53 | - | 50,000,000.00 |
| purchase IRS 54 | 50,000,000.00 | 50,000,000.00 |
| purchase IRS 56 | - | 100,000,000.00 |
| purchase IRS 60 | 50,000,000.00 | 50,000,000.00 |
| purchase IRS 61 | 50,000,000.00 | 50,000,000.00 |
| purchase IRS 62 | 50,000,000.00 | 50,000,000.00 |
| purchase IRS 63 | 50,000,000.00 | 50,000,000.00 |

| purchase IRS 64 | 100,000,000.00 | - |
| --- | --- | --- |
| purchase IRS 65 | 100,000,000.00 | - |
| purchase IRS 66 | 50,000,000.00 | - |
| purchase IRS 68 | 100,000,000.00 | - |
| purchase IRS 69 | 50,000,000.00 | - |
| purchase IRS 70 | 50,000,000.00 | - |
| purchase IRS 72 | 50,000,000.00 | - |
| purchase IRS 73 | 50,000,000.00 | - |
| purchase IRS 75 | 50,000,000.00 | - |
| purchase IRS 76 | 50,000,000.00 | - |
| Other commitments |  |  |

Income statement
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Income from financial transactions |  |  |
| Income from equities and equivalent securities | - | - |
| Income from bonds and equivalent securities | 5,223,890.68 | 4,983,586.14 |
| Income from debt securities | 16,926,986.32 | 17,116,565.56 |
| Income from temporary purchases and sales of securities | - | - |
| Income from forward financial instruments | 93,072.77 | -104,275.74 |
| Income from deposits and financial accounts | - | - |
| Other financial income | 230.70 | - |
| TOTAL I | 22,244,180.47 | 21,995,875.96 |
| Expenses on financial transactions |  |  |
| Expenses on temporary purchases and sales of securities | - | - |
| Expenses on forward financial instruments | -514,953.76 | -66,151.65 |
| Expenses on financial debts | -259,709.31 | -130,816.60 |
| Other financial expenses | - | - |
| TOTAL II | -774,663.07 | -196,968.25 |
| Profit/loss on financial transactions (I + II) | 21,469,517.40 | 21,798,907.71 |
| Other income (III) | - | - |
| Management fees and provisions for depreciation (IV) | -1,248,799.31 | -1,148,025.73 |
| Net income for the financial year (I + II + III + IV) | 20,220,718.09 | 20,650,881.98 |
| Accrued income for the financial year (V) | 1,337,204.24 | -1,303,730.95 |
| Interim dividends paid during the financial year (VI) | - | - |
| Profit/loss (I + II + III + IV + V + VI) | 21,557,922.33 | 19,347,151.03 |


### Accounting principles and policies
The annual financial statements are presented in the form provided for by ANC Regulation No. 2014-01, as amended. The accounts have been established by the management company on the basis of the available elements in the context of an evolving Covid-19 crisis.
The Fund's accounting currency is the euro.
All transferable securities held in the portfolio are recognised at historical cost, excluding charges.
Securities, futures and options held in the portfolio denominated in a foreign currency are converted into the accounting currency based on the exchange rates in Paris on the valuation day.
The portfolio's value is appraised whenever the net asset value is calculated and at the end of the accounting period using the following methods:

###### Transferable securities
Listed securities: at stock market value – including accrued coupons (at the day's closing price)
However, transferable securities for which the price is not established on the valuation day or which are quoted by contributors and for which the price has been adjusted, and securities that are not traded on a regulated market, are valued under the responsibility of the management company (or the Board of Directors for a SICAV), at their likely trading value. Prices are adjusted by the management company based on its knowledge of the issuers and/or markets.
UCIs: at their last known net asset value or, if unavailable, at their last estimated value. The net asset values of the securities of foreign undertakings for collective investment valued on a monthly basis are confirmed by the fund administrators. Valuations are updated weekly based on the estimate issued by the administrators of these UCIs and validated by the fund manager.
Negotiable debt securities and equivalent securities that are not traded in high volumes are valued using an actuarial method at a rate applicable to issues of equivalent securities, to which a variance representative of the intrinsic features of the issuer is assigned, if appropriate. In the absence of sensitivity, securities with a residual term of three months are valued at the most recent rate until maturity; for those acquired for periods of less than three months, the interest is calculated on a straight-line basis.
Temporary purchases and sales of securities:
- Securities lending: the receivable representing the securities lent is valued at the securities' market value.
- Securities borrowing: the borrowed securities and the corresponding debt are valued at the securities' market value.
- Collateral: with regard to securities received as collateral when lending securities, the UCI has chosen to include these securities in the balance sheet using the value of the debt corresponding to the repayment commitment.
- Repurchase agreements with a residual term of three months or less: individualisation of the receivable based on the contract price. In this case, the remuneration is calculated on a straight-line basis.
- Long-term repurchase agreements: these are recorded and valued at their nominal amount, even if their maturity date extends beyond three months. Any associated accrued interest is added to this amount. However, some contracts specify special terms in the event of early repayment in order to take into account the impact of the increase in the counterparty's financing curve. Accrued interest may then be reduced by this impact, with no applicable floor. The impact is in proportion to the residual maturity of the agreement and the difference between the contractual margin and the market margin for the same maturity date.
- Repurchase agreements with a residual maturity of three months or less: stock market value. The debt valued on the basis of the contractual value is recorded as a balance sheet liability. In this case, the remuneration is calculated on a straight-line basis.


###### Futures and options
Futures: at the day's settlement price.
The off-balance sheet valuation is calculated on the basis of the nominal value, its settlement price and, where appropriate, the exchange rate.
Options: the day's closing price or, failing this, the last known price.
Over-the-counter options: These options are valued at their market value, based on prices reported by the counterparties. These valuations are subject to audits by the management company.
The off-balance sheet valuation is calculated as an underlying equivalent based on the delta and the price of the underlying asset and, where appropriate, the exchange rate.
Forward exchange: revaluation of currencies committed at the daily rate taking into account the forwardation/backwardation calculated according to the maturity date for the contract.
Term deposits: These are recorded and valued at their nominal amount, even if their maturity date extends beyond three months. Any associated accrued interest is added to this amount. However, some contracts specify special terms in the event of early repayment in order to take into account the impact of the increase in the counterparty's financing curve. Accrued interest may then be reduced by this impact, but cannot be negative. Term deposits are valued at least at their nominal value.
Interest rate swaps:
- for swaps with a maturity of less than three months, interest is calculated on a straight-line basis.
- swaps with a maturity of more than three months are revalued at market value.

Synthetic products (a security linked to a swap) are recognised as a whole. Interest accrued on swaps forming part of these products is valued on a straight-line basis.
Asset swaps and synthetic products are valued on the basis of their market value. The valuation of asset swaps is based on the valuation of hedged securities, less the impact of changes in credit spreads. This impact is valued using the average of the spreads reported monthly by four counterparties, adjusted by a margin that depends on the rating of the issuer.
The off-balance sheet commitment for swaps corresponds to their nominal value.
Structured swaps (swaps with optional components): These swaps are valued at their market value, based on prices reported by the counterparties. These valuations are subject to audits by the management company.
The off-balance sheet commitment of these swaps corresponds to their nominal value.
The valuation price of credit default swaps (CDS) comes from a contributor provided by the management company. The off- balance sheet commitment of CDS corresponds to their nominal value.

###### Financial management fees and administrative fees not paid to the management company
- maximum 0.50% incl. tax for the "Classic" D unit class
- maximum 0.50% incl. tax for the "Classic" C unit class
- Maximum 0.25% incl. tax for R units
- maximum 0.70% incl. tax for the Mandat unit
- maximum 0.08% incl. tax for the X unit
- Maximum 0.30% inclusive of tax for I units
- Maximum 0.25% inclusive of tax for the Privilege unit
- maximum 0.30% incl. tax for the I H unitThe fees are calculated on the basis of the net assets, after deduction of the UCIs held in the portfolio. These fees, not including transaction fees, will be charged directly to the Fund's income statement.

These fees cover all of the costs invoiced directly to the UCI, except for transaction fees. Transaction costs include intermediary fees (brokerage, stock market taxes, etc.) as well as transaction fees, if any, which may be charged, in particular by the depositary and the management company.

###### Outperformance fees
"Classic", "R", "Mandat", "I" and "Privilege" unit classes: 20% inclusive of tax of a performance beyond or equal to that of the capitalised EONIA over the reference period.
"I H" unit class: 20% inclusive of tax of a performance beyond or equal to that of the Effective Federal Funds Rate index over the reference period.

##### METHOD FOR CALCULATING OUTPERFORMANCE FEES
Each time the net asset value is established, the outperformance of the Fund is defined as the positive difference between the net assets of the Fund before taking into account any provision for outperformance fees and the net assets of a fictitious UCITS achieving benchmark performance and recording the same subscription and redemption scheme (in quantity) as the actual Fund with application of the High Water Mark.
High Water Mark Mechanism: outperformance fees will be charged to the Fund if and only if the net asset value recognised on the last trading day of the period is greater than the highest net asset value recognised on the last trading day of each preceding trading period.
The first reference period to measure the performance of the "Classic", "R", "mandate" and shares
"I" will be between 1 January 2018 and 31 March 2019. Subsequent reference periods will be between 1 April and 31 March each year.
The first reference period for measuring the performance of the "Privilege" units will be between 29 January 2018 and 31 March 2019.
The first reference period for measuring the performance of the "I H" units will be between 4 September 2018 and 31 March 2020.
- If, over the period, the performance of the Fund is less than or equal to the reference rate previously defined, the variable share of management fees will be zero.
- If, over the period, the Fund's performance is greater than the reference rate and the High Water Mark mechanism applies, the variable portion of the management fees will represent up to 20% incl. tax of the positive difference between the performance of the Fund and this reference rate.

In the event of a redemption, the share of the performance fee provision corresponding to the units redeemed is definitively acquired by the financial manager, and is made available to the provision for final performance fees. The share of the performance fee provision corresponding to the remaining units in the Fund is called the available performance fee provision (as it can be challenged).

###### Retrocessions of management fees
None

###### Method used to recognise interest
Interest received

###### Allocation of income
- Accumulation for "Classic" C, R, Mandat, X, I, Privilege and I H unit classes
- Distribution for the "Classic" D unit class.


###### Allocation of net realised capital gains
Accumulation for the "Classic" C, R, Mandat, X, I, Privilege, "Classic" D and I H unit classes

###### Changes affecting the Fund
None
Change in net assets
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Net assets at the beginning of the financial year | 1,222,092,989.93 | 1,411,836,692.35 |
| Subscriptions (including subscription fees paid to the UCI) | 1,539,936,112.90 | 760,934,920.62 |
| Redemptions (after deduction of redemption fees paid to the UCI) | -1,251,424,487.88 | -948,905,598.12 |
| Capital gains realised on deposits and financial instruments | 643,014.86 | 307,779.64 |
| Capital losses realised on deposits and financial instruments | -24,372,555.80 | -8,403,315.77 |
| Capital gains realised on forward financial instruments | 13,000.00 | 162,731.00 |
| Capital losses realised on forward financial instruments | - | -473,070.94 |
| Transaction fees | -553.00 | -7,333.26 |
| Exchange differences | 478.30 | 641.30 |
| Changes in the valuation differences of deposits and financial instruments | -20,692,251.17 | -14,122,860.65 |
| Valuation difference, financial year N | -41,339,300.17 | -20,647,049.00 |
| Valuation difference, financial year N-1 | 20,647,049.00 | 6,524,188.35 |
| Change in the valuation difference of forward financial instruments | -51,151.96 | 171,976.60 |
| Valuation difference, financial year N | -327,246.96 | -276,095.00 |
| Valuation difference, financial year N-1 | 276,095.00 | 448,071.60 |
| Distribution from the previous financial year on net capital gains or losses | - | - |
| Distribution from the previous financial year on income | -168,286.42 | -60,454.82 |
| Net income for the financial year before accruals and deferrals | 20,220,718.09 | 20,650,881.98 |
| Interim dividend(s) paid during the financial year on net capital gains or losses | - | - |
| Interim dividend(s) paid during the financial year on income | - | - |
| Other items | - | - |
| Net assets at the end of the financial year | 1,486,197,027.85 | 1,222,092,989.93 |

Additional information 1
|  | Financial year 31/03/2020 |
| --- | --- |
| Commitments received or given |  |
| Commitments received or given (capital surety or other commitments) (*) | - |
| Current value of financial instruments registered in the portfolio constituting collateral deposits |  |
| Financial instruments received as collateral and not recorded on the balance sheet | - |
| Financial instruments given as collateral and kept under the original item | - |
| Financial instruments in the portfolio issued by the provider or entities in its group |  |
| Deposits | - |
| Equities | - |
| Interest rate securities | - |
| UCIs | 146,074,381.61 |
| Temporary purchases and sales of securities | - |
| Swaps (nominal) | 50,000,000.00 |
| Current value of financial instruments under a repurchase agreement |  |
| Securities acquired under repurchase agreements | - |
| Securities received under repurchase agreements | - |
| Borrowed securities | - |

(*) For guaranteed UCIs, the information appears in the accounting principles and policies.
| Additional information 2 | Financial year 31/03/2020 | % of average net assets |
| --- | --- | --- |
| Issues and redemptions during the financial year | Number of securities |
| X class (Currency: EUR) |  |
| Number of securities issued | 78,056.963 |
| Number of securities redeemed | 72,574.906 |
| Mandat class (Currency: EUR) |  |
| Number of securities issued | 1,716.587 |
| Number of securities redeemed | 4,028.221 |
| Privilege class (Currency: EUR) |  |
| Number of securities issued | 95,780.306 |
| Number of securities redeemed | 234,203.192 |
| R class (Currency: EUR) |  |
| Number of securities issued | 262,495.038 |
| Number of securities redeemed | 266,162.819 |
| I class (Currency: EUR) |  |
| Number of securities issued | 11,289.340 |
| Number of securities redeemed | 7,607.965 |
| Class C CLASSIC (Currency: EUR) |  |
| Number of securities issued | 1,105,676.632 |
| Number of securities redeemed | 1,320,172.465 |
| Class D CLASSIC (Currency: EUR) |  |
| Number of securities issued | 1,202.572 |
| Number of securities redeemed | 7,127.102 |
| Class I H (Currency: USD) |  |
| Number of securities issued | - |
| Number of securities redeemed | - |
| Subscription and/or redemption fees | Amount (EUR) |
| Subscription fees paid to the UCI | - |
| Redemption fees paid to the UCI | - |
| Subscription fees received and shared | 333,921.06 |
| Redemption fees received and shared | - |
| Management fees | Amount (EUR) |
| Class D CLASSIC (Currency: EUR) |  |  |
| Operating and management fees (*) | 11,799.92 | 0.11 |
| Performance fees | - | - |
| Other charges | - | - |

| Management fees | Amount (EUR) | % of average net assets |
| --- | --- | --- |
| Mandat class (Currency: EUR) |  |  |
| Operating and management fees (*) | 2,034.93 | 0.11 |
| Performance fees | 2.51 | - |
| Other charges | - | - |
| Class I H (Currency: USD) |  |  |
| Operating and management fees (*) | 4.30 | 0.05 |
| Performance fees | - | - |
| Other charges | - | - |
| I class (Currency: EUR) |  |  |
| Operating and management fees (*) | 522,163.74 | 0.06 |
| Performance fees | 142,468.15 | - |
| Other charges | - | - |
| R class (Currency: EUR) |  |  |
| Operating and management fees (*) | 7,290.91 | 0.11 |
| Performance fees | 0.22 | - |
| Other charges | - | - |
| X class (Currency: EUR) |  |  |
| Operating and management fees (*) | 28,284.13 | 0.04 |
| Performance fees | - | - |
| Other charges | - | - |
| Privilege class (Currency: EUR) |  |  |
| Operating and management fees (*) | 34,848.62 | 0.11 |
| Performance fees | 44.85 | - |
| Other charges | - | - |
| Class C CLASSIC (Currency: EUR) |  |  |
| Operating and management fees (*) | 641,847.40 | 0.11 |
| Performance fees | 492.50 | - |
| Other charges | - | - |
| Retrocessions of management fees (all units) | - |  |

(*) For UCIs with a financial year that is not 12 months, the percentage of average net assets corresponds to the average annualised rate.
| Breakdown of receivables and debts by type |
| --- |
|  | Financial year 31/03/2020 |
| Breakdown of receivables by type | - |
| Deposit – EUR | 104,518.90 |
| Deposit – Other currencies | - |
| Cash collateral | 770,000.00 |
| Valuation of purchases of currency futures | 8,920.45 |
| Exchange value of forward sales | - |
| Other miscellaneous debtors | 11.76 |
| Coupons receivable | - |
| TOTAL RECEIVABLES | 883,451.11 |
| Breakdown of debts by type | - |
| Deposit – EUR | - |
| Deposit – Other currencies | - |
| Cash collateral | 260,000.00 |
| Provisions for loan charges | - |
| Valuation of sales of currency futures | - |
| Exchange value of forward purchases | 8,707.85 |
| Costs and expenses not yet paid | 263,107.41 |
| Other miscellaneous payables | 30,608,251.75 |
| Provisions for market liquidity risk | - |
| TOTAL DEBTS | 31,140,067.01 |

Breakdown of instruments by legal or economic type
|  | Financial year 31/03/2020 |
| --- | --- |
| Assets |  |
| Bonds and equivalent securities | 344,149,735.04 |
| Index-linked bonds | - |
| Convertible bonds | 51,431,457.48 |
| Equity securities | - |
| Other bonds and equivalent securities | 292,718,277.56 |
| Debt securities | 971,133,129.72 |
| Traded on a regulated or equivalent market | 971,133,129.72 |
| Treasury bills | - |
| Other negotiable debt securities | 139,841,284.99 |
| Other debt securities | 831,291,844.73 |
| Not traded on a regulated or equivalent market | - |
| Liabilities |  |
| Disposals of financial instruments | - |
| Equities | - |
| Bonds | - |
| Other | - |
| Off-balance sheet Hedging transactions |  |
| Interest rates | - |
| Equities | - |
| Other | - |
| Other transactions |  |
| Interest rates | 933,657,000.00 |
| Equities | - |
| Other | - |

Breakdown of assets, liabilities and off-balance sheet items by interest rate type
|  | Fixed rate | Variable rate | Adjustable rate | Other |
| --- | --- | --- | --- | --- |
| Assets |  |  |  |  |
| Deposits | - | - | - | - |
| Bonds and equivalent securities | 311,450,630.03 | - | 32,699,105.01 | - |
| Debt securities | 901,558,062.88 | - | 69,575,066.84 | - |
| Temporary securities transactions | - | - | - | - |
| Financial accounts | - | - | - | 55,453,144.34 |
| Liabilities |  |  |  |  |
| Temporary securities transactions | - | - | - | - |
| Financial accounts | - | - | - | - |
| Off-balance sheet |  |  |  |  |
| Hedging transactions | - | - | - | - |
| Other transactions | 933,657,000.00 | - | - | - |

Breakdown of assets, liabilities and off-balance sheet items by residual maturity
|  | [0–3 months] | ]3 months–1 year] | ]1–3 years] | ]3–5 years] | > 5 years |
| --- | --- | --- | --- | --- | --- |
| Assets |  |  |  |  |  |
| Deposits | - | - | - | - | - |
| Bonds and equivalent securities | 34,256,579.61 | 91,438,539.38 | 218,454,616.05 | - | - |
| Debt securities | 174,589,005.24 | 275,767,946.19 | 520,776,178.29 | - | - |
| Temporary securities transactions | - | - | - | - | - |
| Financial accounts | 55,453,144.34 | - | - | - | - |
| Liabilities |  |  |  |  |  |
| Temporary securities transactions | - | - | - | - | - |
| Financial accounts | - | - | - | - | - |
| Off-balance sheet |  |  |  |  |  |
| Hedging transactions | - | - | - | - | - |
| Other transactions | 100,000,000.00 | 250,000,000.00 | 583,657,000.00 | - | - |

Breakdown of assets, liabilities and off-balance sheet items by listing currency
|  | USD |
| --- | --- |
| Assets |  |
| Deposits | - |
| Equities and equivalent securities | - |
| Bonds and equivalent securities | - |
| Debt securities | - |
| UCI securities | - |
| Temporary securities transactions | - |
| Other financial instruments | - |
| Receivables | 8,920.45 |
| Financial accounts | - |
| Liabilities |  |
| Disposals of financial instruments | - |
| Debts | - |
| Temporary securities transactions | - |
| Financial accounts | - |
| Off-balance sheet |  |
| Hedging transactions | - |
| Other transactions | - |

Only the five currencies that are most representative of the net asset component are included in this table.
| Allocation of income |  |  |
| --- | --- | --- |
| Mandat class (Currency: EUR) |  |  |
| Allocation table of distributable amounts relating to income |  |  |
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 19,365.53 | 57,349.34 |
| Total | 19,365.53 | 57,349.34 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 19,365.53 | 57,349.34 |
| Total | 19,365.53 | 57,349.34 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income Overall amount of tax credits and tax benefits |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

| Allocation table of distributable amounts relating to net capital gains or losses |
| --- |
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains or losses | - | - |
| Net capital gains or losses for the financial year | -22,936.14 | -23,635.94 |
| Interim payments on net capital gains and losses for the year | - | - |
| Total | -22,936.14 | -23,635.94 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains or losses | - | - |
| Accumulation | -22,936.14 | -23,635.94 |
| Total | -22,936.14 | -23,635.94 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

| Class D CLASSIC (Currency: EUR) |  |  |
| --- | --- | --- |
| Allocation table of distributable amounts relating to income |  |  |
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| Amounts still to be allocated |  |  |
| Balance carried forward | 177.84 | 171.61 |
| Profit/loss | 141,671.82 | 176,372.09 |
| Total | 141,849.66 | 176,543.70 |
| Allocation |  |  |
| Distribution | 141,820.41 | 176,516.53 |
| Balance carried forward for the financial year | 29.25 | 27.17 |
| Accumulation | - | - |
| Total | 141,849.66 | 176,543.70 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | 50,290.926 | 56,215.456 |
| Distribution per unit | 2.82 | 3.14 |
| Tax credits and tax benefits attached to the distribution of income Overall amount of tax credits and tax benefits |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains or losses
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains or losses | - | - |
| Net capital gains or losses for the financial year | -167,502.77 | -72,763.71 |
| Interim payments on net capital gains and losses for the year | - | - |
| Total | -167,502.77 | -72,763.71 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains or losses | - | - |
| Accumulation | -167,502.77 | -72,763.71 |
| Total | -167,502.77 | -72,763.71 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

X class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 1,045,723.44 | 1,057,176.94 |
| Total | 1,045,723.44 | 1,057,176.94 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 1,045,723.44 | 1,057,176.94 |
| Total | 1,045,723.44 | 1,057,176.94 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains or losses
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains or losses | - | - |
| Net capital gains or losses for the financial year | -1,176,793.02 | -416,160.90 |
| Interim payments on net capital gains or losses for the financial year | - | - |
| Total | -1,176,793.02 | -416,160.90 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains or losses | - | - |
| Accumulation | -1,176,793.02 | -416,160.90 |
| Total | -1,176,793.02 | -416,160.90 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Class I H (Currency: USD)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 149.51 | 85.61 |
| Total | 149.51 | 85.61 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 149.51 | 85.61 |
| Total | 149.51 | 85.61 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains or losses
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains or losses | - | - |
| Net capital gains or losses for the financial year | 176.32 | 322.81 |
| Interim payments on net capital gains and losses for the year | - | - |
| Total | 176.32 | 322.81 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains or losses | - | - |
| Accumulation | 176.32 | 322.81 |
| Total | 176.32 | 322.81 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Privilege class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 338,120.75 | 872,627.93 |
| Total | 338,120.75 | 872,627.93 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 338,120.75 | 872,627.93 |
| Total | 338,120.75 | 872,627.93 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains or losses
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains or losses | - | - |
| Net capital gains or losses for the financial year | -400,420.23 | -359,644.29 |
| Interim payments on net capital gains and losses for the year | - | - |
| Total | -400,420.23 | -359,644.29 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains or losses | - | - |
| Accumulation | -400,420.23 | -359,644.29 |
| Total | -400,420.23 | -359,644.29 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Class C CLASSIC (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 7,861,531.35 | 9,446,237.43 |
| Total | 7,861,531.35 | 9,446,237.43 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 7,861,531.35 | 9,446,237.43 |
| Total | 7,861,531.35 | 9,446,237.43 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains or losses
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains or losses | - | - |
| Net capital gains or losses for the financial year | -9,308,303.08 | -3,893,166.15 |
| Interim payments on net capital gains and losses for the year | - | - |
| Total | -9,308,303.08 | -3,893,166.15 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains or losses | - | - |
| Accumulation | -9,308,303.08 | -3,893,166.15 |
| Total | -9,308,303.08 | -3,893,166.15 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

R class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 35,760.44 | 51,026.04 |
| Total | 35,760.44 | 51,026.04 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 35,760.44 | 51,026.04 |
| Total | 35,760.44 | 51,026.04 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains or losses
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains or losses | - | - |
| Net capital gains or losses for the financial year | -42,340.41 | -21,029.96 |
| Interim payments on net capital gains or losses for the financial year | - | - |
| Total | -42,340.41 | -21,029.96 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains or losses | - | - |
| Accumulation | -42,340.41 | -21,029.96 |
| Total | -42,340.41 | -21,029.96 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

I class (Currency: EUR)
Allocation table of distributable amounts relating to income
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Balance carried forward | - | - |
| Profit/loss | 12,115,599.49 | 7,686,104.04 |
| Total | 12,115,599.49 | 7,686,104.04 |
| Allocation |  |  |
| Distribution | - | - |
| Balance carried forward for the financial year | - | - |
| Accumulation | 12,115,599.49 | 7,686,104.04 |
| Total | 12,115,599.49 | 7,686,104.04 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |
| Tax credits and tax benefits attached to the distribution of income |  |  |
| Overall amount of tax credits and tax benefits |  |  |
| originating in the year | - | - |
| originating in year N-1 | - | - |
| originating in year N-2 | - | - |
| originating in year N-3 | - | - |
| originating in year N-4 | - | - |

Allocation table of distributable amounts relating to net capital gains or losses
|  | Financial year 31/03/2020 | Financial year 29/03/2019 |
| --- | --- | --- |
| Amounts still to be allocated |  |  |
| Undistributed previous net capital gains or losses | - | - |
| Net capital gains or losses for the financial year | -14,119,341.64 | -3,059,971.41 |
| Interim payments on net capital gains or losses for the financial year | - | - |
| Total | -14,119,341.64 | -3,059,971.41 |
| Allocation |  |  |
| Distribution | - | - |
| Undistributed net capital gains or losses | - | - |
| Accumulation | -14,119,341.64 | -3,059,971.41 |
| Total | -14,119,341.64 | -3,059,971.41 |
| Information relating to securities with distribution rights |  |  |
| Number of securities | - | - |
| Distribution per unit | - | - |

Table of results and other characteristic items over the previous five years

###### X class (Currency: EUR)
|  | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 1,006.6247 | 1,006.6694 | 1,004.7666 | 1,004.4461 | 989.8349 |
| Net assets (in EUR k) | 352,949.26 | 299,910.31 | 36,457.89 | 64,833.75 | 69,316.98 |
| Number of securities |  |  |  |  |  |
| C units | 350,626.461 | 297,923.359 | 36,284.936 | 64,546.772 | 70,028.829 |

| Payment date | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains or losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains or losses |  |  |  |  |  |
| C units | 1.21 | 0.48 | -2.46 | -6.44 | -16.80 |
| Accumulation per unit on income |  |  |  |  |  |
| C units | 0.18 | -0.26 | 5.86 | 16.37 | 14.93 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93)." The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2- 99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

###### Mandat class (Currency: EUR)
|  | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 1,003.3010 | 1,002.7323 | 1,000.0939 | 999.0432 | 983.7812 |
| Net assets (in EUR k) | 33,752.00 | 29,691.10 | 4,755.41 | 3,680.95 | 1,350.57 |
| Number of securities |  |  |  |  |  |
| C units | 33,640.951 | 29,610.198 | 4,754.968 | 3,684.474 | 1,372.840 |

| Payment date | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains or losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains or losses |  |  |  |  |  |
| C units | 1.21 | 0.48 | -2.45 | -6.41 | -16.70 |
| Accumulation per unit on income |  |  |  |  |  |
| C units | -0.12 | -0.88 | 5.08 | 15.56 | 14.10 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93)." The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2- 99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

###### Privilege class (Currency: EUR)
|  | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |
| C units | 231.8889 | 231.6452 | 228.1068 |
| Net assets (in EUR k) | 59,434.25 | 56,009.05 | 23,578.30 |
| Number of securities |  |  |  |
| C units | 256,304.903 | 241,788.075 | 103,365.189 |

| Payment date | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- |
| Distribution per unit on net capital gains or losses | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |
| Distribution per unit on income | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |
| Tax credits per unit (*) | - | - | - |
| individuals (in EUR) |  |  |  |
| Accumulation per unit on net capital gains or losses |  |  |  |
| C units | -0.22 | -1.48 | -3.87 |
| Accumulation per unit on income |  |  |  |
| C units | 0.52 | 3.60 | 3.27 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93)." The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2- 99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

###### R class (Currency: EUR)
|  | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 203.5003 | 203.3849 | 202.8506 | 202.6376 | 199.5426 |
| Net assets (in EUR k) | 48,215.75 | 39,657.86 | 3,072.89 | 3,275.08 | 2,493.18 |
| Number of securities |  |  |  |  |  |
| C units | 236,932.062 | 194,989.202 | 15,148.532 | 16,162.236 | 12,494.455 |

| Payment date | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains or losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains or losses |  |  |  |  |  |
| C units | 0.24 | 0.09 | -0.49 | -1.30 | -3.38 |
| Accumulation per unit on income |  |  |  |  |  |
| C units | -0.01 | -0.17 | 1.03 | 3.15 | 2.86 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93)." The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2- 99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

###### I class (Currency: EUR)
|  | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |
| C units | 99,893.4890 | 99,843.3470 | 98,340.8190 |
| Net assets (in EUR k) | 479,220.13 | 476,670.81 | 831,526.89 |
| Number of securities |  |  |  |
| C units | 4,797.311 | 4,774.187 | 8,455.562 |

| Payment date | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- |
| Distribution per unit on net capital gains or losses | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |
| Distribution per unit on income | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |
| Tax credits per unit (*) | - | - | - |
| individuals (in EUR) |  |  |  |
| Accumulation per unit on net capital gains or losses |  |  |  |
| C units | -212.41 | -640.94 | -1,669.82 |
| Accumulation per unit on income |  |  |  |
| C units | 581.39 | 1,609.92 | 1,432.85 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93)." The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2- 99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

###### Class C CLASSIC (Currency: EUR)
|  | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| C units | 232.6452 | 232.5134 | 231.9006 | 231.6570 | 228.1190 |
| Net assets (in EUR k) | 1,531.77 | 1,614.59 | 816,371.01 | 606,300.66 | 548,110.30 |
| Number of securities |  |  |  |  |  |
| C units | 6,584,135.911 | 6,944,085.586 | 3,520,348.395 | 2,617,234.530 | 2,402,738.697 |

| Payment date | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains or losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains or losses |  |  |  |  |  |
| C units | 0.28 | 0.11 | -0.56 | -1.48 | -3.87 |
| Accumulation per unit on income |  |  |  |  |  |
| C units | -0.02 | -0.20 | 1.17 | 1.36 | 3.27 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93)." The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2- 99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

###### Class D CLASSIC (Currency: EUR)
|  | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Net asset value (in EUR) |  |  |  |  |  |
| D units | 203.1468 | 203.0317 | 202.4993 | 201.2547 | 195.0926 |
| Net assets (in EUR k) | 24.17 | 21.96 | 12,525.10 | 11,313.62 | 9,811.39 |
| Number of securities |  |  |  |  |  |
| D units | 118,969.856 | 108,170.076 | 61,852.571 | 56,215.456 | 50,290.926 |

| Payment date | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution per unit on net capital gains or losses | - | - | - | - | - |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Distribution per unit on income | - | - | 1.03 | 3.14 | 2.82 |
| (including interim dividends) (in EUR) |  |  |  |  |  |
| Tax credits per unit (*) | - | - | - | - | - |
| individuals (in EUR) |  |  |  |  |  |
| Accumulation per unit on net capital gains or losses |  |  |  |  |  |
| D units | 0.24 | 0.09 | -0.49 | -1.29 | -3.33 |
| Accumulation per unit on income |  |  |  |  |  |
| D units | -0.02 | -0.17 | - | - | - |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93)." The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2- 99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."

###### Class I H (Currency: USD)
| 29/03/2019 | 31/03/2020 |
| --- | --- |
| Net asset value (in USD) |  |  |
| C units | 101,809.1586 | 103,074.5284 |
| Net assets (in EUR k) | 9.07 | 9.42 |
| Number of securities |  |  |
| C units | 0.100 | 0.100 |

| Payment date | 29/03/2019 | 31/03/2020 |
| --- | --- | --- |
| Distribution per unit on net capital gains or losses | - | - |
| (including interim dividends) (in USD) |  |  |
| Distribution per unit on income | - | - |
| (including interim dividends) (in USD) |  |  |
| Tax credits per unit (*) | - | - |
| individuals (in USD) |  |  |
| Accumulation per unit on net capital gains or losses |  |  |
| C units | 3,228.10 | 1,763.20 |
| Accumulation per unit on income |  |  |
| C units | 856.10 | 1,495.10 |

(*) "The tax credit per unit is calculated on the payment date, in accordance with the French tax instruction dated 04/03/93 (Inst. 4 K-1-93)." The theoretical amounts, calculated in accordance with the rules applicable to individuals, are shown here for information purposes. "Instruction 4 J-2- 99 of 08/11/99 also specifies that beneficiaries of tax credits other than individuals are solely responsible for calculating the amount of the tax credits to which they are entitled."
Inventory of financial instruments as at 31 March 2020
| Asset items and description of securities | Quantity | Price | Listing currency | Current value | Rounded % of net assets |
| --- | --- | --- | --- | --- | --- |
| Bonds and equivalent securities |  |  |  | 344,149,735.04 | 23.16 |
| Traded on a regulated or equivalent market |  |  |  | 344,149,735.04 | 23.16 |
| ACCOR 2.625% 14-05/02/2021 | 5,500,000.00 | 98.60 | EUR | 5,444,810.10 | 0.37 |
| AMERICA MOVIL SA 0% 15-28/05/2020 CV | 20,500,000.00 | 99.04 | EUR | 20,302,995.00 | 1.37 |
| ARKEMA 3.85% 12-30/04/2020 | 2,800,000.00 | 100.18 | EUR | 2,903,973.97 | 0.20 |
| ATOS SE 0.75% 18-07/05/2022 | 13,600,000.00 | 99.78 | EUR | 13,662,326.59 | 0.92 |
| AT&T INC 1.45% 14-01/06/2022 | 3,000,000.00 | 100.79 | EUR | 3,059,896.85 | 0.21 |
| BANCO BILBAO VIZ 1% 16-20/01/2021 | 10,000,000.00 | 100.24 | EUR | 10,043,301.91 | 0.68 |
| CAPGEMINI SA 0.5% 16-09/11/2021 | 1,200,000.00 | 99.33 | EUR | 1,194,336.66 | 0.08 |
| CNP ASSURANCES 1.875% 16-20/10/2022 | 14,800,000.00 | 100.06 | EUR | 14,932,177.47 | 1.00 |
| COMUNIDAD MADRID 0.727% 16-19/05/2021 | 18,382,000.00 | 100.73 | EUR | 18,632,235.89 | 1.25 |
| CRED AGRICOLE SA 4.5% 10-30/06/2020 | 7,050,000.00 | 101.08 | EUR | 7,126,908.33 | 0.48 |
| DASSAULT SYSTEME 0% 19-16/09/2022 | 6,500,000.00 | 98.04 | EUR | 6,372,468.05 | 0.43 |
| FONCIERE REGIONS 3.3% 13-30/04/2020 | 3,800,000.00 | 100.20 | EUR | 3,922,702.31 | 0.26 |
| GEN ELECTRIC CO 0.375% 17-17/05/2022 | 15,000,000.00 | 95.44 | EUR | 14,364,977.14 | 0.97 |
| GLAXOSMITHKLINE 0% 17-12/09/2020 | 6,200,000.00 | 99.87 | EUR | 6,191,652.32 | 0.42 |
| HAMMERSON PLC 2% 14-01/07/2022 | 17,000,000.00 | 96.78 | EUR | 16,706,899.22 | 1.12 |
| IBM CORP 0.5% 16-07/09/2021 | 11,000,000.00 | 99.75 | EUR | 11,003,483.78 | 0.74 |
| ICADE 1.875% 15-14/09/2022 | 6,600,000.00 | 102.40 | EUR | 6,825,684.84 | 0.46 |
| ITALY BTPS 0.9% 17-01/08/2022 | 20,000,000.00 | 100.97 | EUR | 20,222,176.00 | 1.36 |
| ITALY BTPS 1% 19-15/07/2022 | 15,000,000.00 | 101.17 | EUR | 15,207,118.68 | 1.02 |
| ITALY BTPS 1.45% 15-15/09/2022 | 10,000,000.00 | 102.29 | EUR | 10,235,404.00 | 0.69 |
| ITALY BTPS 5.5% 12-01/11/2022 | 7,000,000.00 | 112.65 | EUR | 8,045,351.30 | 0.54 |
| ITALY CCTS EU 15-15/06/2022 FRN | 12,900,000.00 | 99.05 | EUR | 12,784,921.68 | 0.86 |
| ITALY CCTS EU 15-15/12/2022 FRN | 5,000,000.00 | 99.69 | EUR | 4,990,060.00 | 0.34 |
| JOHNSON CONTROLS 0% 17-04/12/2020 | 11,059,000.00 | 99.65 | EUR | 11,020,835.39 | 0.74 |
| LA BANQUE POSTAL 4.375% 10-30/11/2020 | 15,300,000.00 | 101.51 | EUR | 15,754,002.00 | 1.06 |
| MYLAN NV 1.25% 16-23/11/2020 | 8,000,000.00 | 100.28 | EUR | 8,057,348.30 | 0.54 |
| PRINCIPALITY OF 0.081% 19-30/04/2022 | 4,000,000.00 | 99.34 | EUR | 3,976,787.21 | 0.27 |
| SCANIA CV AB 18-17/03/2021 FRN | 15,000,000.00 | 99.49 | EUR | 14,924,123.33 | 1.00 |
| TAKEDA PHARMACEU 0.375% 18-21/11/2020 | 17,000,000.00 | 99.64 | EUR | 16,960,883.22 | 1.14 |
| TELFONICA DEUTSC 2.375% 14-10/02/2021 | 3,000,000.00 | 101.06 | EUR | 3,041,582.81 | 0.20 |
| UNIBAIL-RODAMCO 0% 14-01/07/2021 CV | 32,000.00 | 282.19 | EUR | 9,029,952.00 | 0.61 |
| UNIBAIL-RODAMCO 0% 15-01/01/2022 CV | 65,460.00 | 337.59 | EUR | 22,098,510.48 | 1.49 |
| 3M CO 1.875% 13-15/11/2021 | 5,000,000.00 | 101.50 | EUR | 5,109,848.21 | 0.34 |

| Debt securities |  |  |  | 971,133,129.72 | 65.34 |
| --- | --- | --- | --- | --- | --- |
| Traded on a regulated or equivalent market |  |  |  | 971,133,129.72 | 65.34 |
| Negotiable debt securities |  |  |  | 139,841,284.99 | 9.41 |
| ACCOR SA 0% 05/06/2020 NEUCP | 20,000,000.00 | 100.05 | EUR | 20,009,633.60 | 1.35 |
| AUCHAN HOLDING 0% 26/05/2020 NEUCP | 20,000,000.00 | 100.04 | EUR | 20,008,117.00 | 1.35 |
| BARRY CALLEBAUT SERVICES NV 0% 02/04/202 | 21,000,000.00 | 100.00 | EUR | 21,000,321.72 | 1.40 |
| EANDIS CVBA 0% 27/04/2020 | 20,000,000.00 | 100.02 | EUR | 20,003,861.00 | 1.35 |
| FLUVIUS SYSTEM OPERATOR 0% 30/04/2020 | 10,000,000.00 | 100.02 | EUR | 10,002,101.20 | 0.67 |
| GENERAL ELECTRIC CO 0% 05/06/2020 | 10,000,000.00 | 100.06 | EUR | 10,006,204.90 | 0.67 |
| HEIDELBERGCEMENT AG 0% 08/06/2020 | 18,800,000.00 | 100.05 | EUR | 18,809,481.97 | 1.27 |
| MERCIALYS 0% 08/04/2020 NEUCP | 20,000,000.00 | 100.01 | EUR | 20,001,563.60 | 1.35 |
| Other debt securities |  |  |  | 831,291,844.73 | 55.93 |
| ABBEY NATL TREAS 0.875% 15-25/11/2020 | 2,690,000.00 | 100.19 | EUR | 2,703,227.54 | 0.18 |
| ABBEY NATL TREAS 2.625% 13-16/07/2020 | 2,440,000.00 | 100.66 | EUR | 2,501,328.23 | 0.17 |
| ABN AMRO BANK NV 6,375% 11-27/04/2021 | 16,763,000.00 | 103.14 | EUR | 18,278,355.61 | 1.24 |
| ACHMEA BV 2.5% 13-19/11/2020 | 3,251,000.00 | 101.01 | EUR | 3,313,241.70 | 0.22 |
| AMADEUS CAP MKT 0.125% 16-06/10/2020 | 6,700,000.00 | 99.33 | EUR | 6,659,168.91 | 0.45 |
| ASTRAZENECA PLC 0.25% 16-12/05/2021 | 12,000,000.00 | 98.74 | EUR | 11,875,701.78 | 0.80 |
| ASTRAZENECA PLC 0.875% 14-24/11/2021 | 1,000,000.00 | 99.51 | EUR | 998,114.91 | 0.07 |
| AUCHAN SA 0,625% 17-07/02/2022 | 1,700,000.00 | 97.87 | EUR | 1,665,327.91 | 0.11 |
| AUCHAN SA 1.75% 14-23/04/2021 | 10,200,000.00 | 100.51 | EUR | 10,418,810.13 | 0.70 |
| BANCO BILBAO VIZ 0.75% 17-11/09/2022 | 16,300,000.00 | 97.02 | EUR | 15,881,226.01 | 1.07 |
| BANQ FED CRD MUT 0,125% 18-30/08/2021 | 8,400,000.00 | 98.93 | EUR | 8,316,329.06 | 0.56 |
| BANQ FED CRD MUT 4% 10-22/10/2020 | 9,800,000.00 | 101.53 | EUR | 10,122,100.80 | 0.68 |
| BARCLAYS PLC 1.5% 14-01/04/2022 | 10,455,000.00 | 98.04 | EUR | 10,406,279.88 | 0.70 |
| BARCLAYS PLC 1.875% 16-23/03/2021 | 10,000,000.00 | 99.89 | EUR | 9,993,026.59 | 0.67 |
| BMW FINANCE NV 0.125% 18-29/11/2021 | 10,000,000.00 | 97.57 | EUR | 9,760,709.82 | 0.66 |
| BMW FINANCE NV 0.875% 15-17/11/2020 | 1,500,000.00 | 99.83 | EUR | 1,502,279.49 | 0.10 |
| BNP PARIBAS 0.5% 16-01/06/2022 | 10,000,000.00 | 98.84 | EUR | 9,925,999.28 | 0.67 |
| BPCE 17-09/03/2022 | 12,100,000.00 | 97.76 | EUR | 11,833,303.36 | 0.80 |
| BRITISH TELECOMM 0.625% 16-10/03/2021 | 15,000,000.00 | 99.51 | EUR | 14,931,176.84 | 1.00 |
| CAIXABANK 1.125% 17-12/01/2023 | 15,000,000.00 | 96.24 | EUR | 14,472,505.18 | 0.97 |
| CASS RISP PARMA 0.875% 14-31/01/2022 | 10,000,000.00 | 101.37 | EUR | 10,151,015.26 | 0.68 |
| CNH IND FIN 1.375% 17-23/05/2022 | 8,500,000.00 | 99.74 | EUR | 8,578,075.73 | 0.58 |
| COMMERZBANK AG 4% 10-16/09/2020 | 10,000,000.00 | 101.16 | EUR | 10,331,569.55 | 0.70 |
| COMMERZBANK AG 7.75% 11-16/03/2021 | 12,400,000.00 | 101.31 | EUR | 12,602,114.19 | 0.85 |
| CONTINENTAL AG 3.125% 13-09/09/2020 | 9,892,000.00 | 101.03 | EUR | 10,166,491.45 | 0.68 |
| CPI PROPERTY GRO 1.45% 18-14/04/2022 | 15,000,000.00 | 99.09 | EUR | 15,073,242.83 | 1.01 |
| CRED AGRICOLE SA 3.9% 10-19/04/2021 | 10,000,000.00 | 101.75 | EUR | 10,544,614.10 | 0.71 |
| CRED SUIS GP FUN 1.25% 15-14/04/2022 | 13,000,000.00 | 97.69 | EUR | 12,856,508.05 | 0.87 |

| CRH FINLAND SERV 2.75% 13-15/10/2020 | 6,628,000.00 | 100.55 | EUR | 6,748,318.42 | 0.45 |
| --- | --- | --- | --- | --- | --- |
| DANONE 0.167% 16-03/11/2020 | 2,600,000.00 | 99.86 | EUR | 2,598,014.28 | 0.17 |
| DS SMITH PLC 2.25% 15-16/09/2022 | 13,000,000.00 | 101.98 | EUR | 13,415,271.42 | 0.90 |
| EANDIS 4.5% 11-08/11/2021 | 3,000,000.00 | 105.98 | EUR | 3,232,626.35 | 0.22 |
| ELEC DE FRANCE 2.25% 13-27/04/2021 | 4,000,000.00 | 101.47 | EUR | 4,142,110.26 | 0.28 |
| ELSEVIER FINANCE 2.5% 12-24/09/2020 | 1,900,000.00 | 100.94 | EUR | 1,942,384.13 | 0.13 |
| ENI SPA 4% 10-29/06/2020 | 10,000,000.00 | 100.81 | EUR | 10,382,928.34 | 0.70 |
| FCA CAPITAL IRE 1.375% 15-17/04/2020 | 15,000,000.00 | 99.97 | EUR | 15,192,410.08 | 1.02 |
| FERROV DEL STATO 4% 13-22/07/2020 | 5,900,000.00 | 100.67 | EUR | 6,102,897.30 | 0.41 |
| GE CAP EUR FUND 0.8% 15-21/01/2022 | 2,500,000.00 | 97.79 | EUR | 2,448,450.14 | 0.16 |
| GE CAP EUR FUND 2.25% 13-20/07/2020 | 7,400,000.00 | 99.83 | EUR | 7,503,683.10 | 0.50 |
| GEN MOTORS FIN 0.2% 19-02/09/2022 | 4,626,000.00 | 85.55 | EUR | 3,963,081.43 | 0.27 |
| GLAXOSMITHKLINE 0.000001% 19-23/09/2021 | 6,000,000.00 | 99.12 | EUR | 5,947,103.40 | 0.40 |
| HEIDELCEMENT FIN 0.5% 17-18/01/2021 | 3,000,000.00 | 99.59 | EUR | 2,990,590.10 | 0.20 |
| HEINEKEN NV 2.125% 12-04/08/2020 | 14,400,000.00 | 100.55 | EUR | 14,679,618.14 | 0.99 |
| HSBC FRANCE 0.2% 18-04/09/2021 | 13,000,000.00 | 98.73 | EUR | 12,849,142.49 | 0.86 |
| IBERDROLA INTL 3.5% 13-01/02/2021 | 3,800,000.00 | 102.46 | EUR | 3,914,732.93 | 0.26 |
| INBEV NV 4% 11-02/06/2021 | 15,000,000.00 | 103.38 | EUR | 16,004,150.31 | 1.08 |
| ING BANK NV 0% 19-08/04/2022 | 5,300,000.00 | 97.70 | EUR | 5,178,319.95 | 0.35 |
| ING BANK NV 0,375% 18-26/11/2021 | 12,400,000.00 | 98.94 | EUR | 12,284,511.16 | 0.83 |
| INTESA SANPAOLO 2% 14-18/06/2021 | 17,000,000.00 | 100.09 | EUR | 17,282,738.22 | 1.16 |
| KLEPIERRE 4.75% 11-14/03/2021 | 15,000,000.00 | 103.88 | EUR | 15,617,198.49 | 1.05 |
| KPN NV 3.75% 10-21/09/2020 | 3,200,000.00 | 101.55 | EUR | 3,312,484.90 | 0.22 |
| LEASEPLAN CORP 0.75% 17-03/10/2022 | 11,300,000.00 | 97.61 | EUR | 11,072,020.52 | 0.74 |
| LEASEPLAN CORP 1% 16-08/04/2020 | 5,000,000.00 | 100.00 | EUR | 5,048,899.10 | 0.34 |
| LEASEPLAN CORP 1% 19-25/02/2022 | 8,335,000.00 | 98.49 | EUR | 8,216,827.07 | 0.55 |
| LLOYDS BANK 0.25% 19-04/10/2022 | 5,000,000.00 | 96.31 | EUR | 4,821,481.89 | 0.32 |
| LOGICOR FIN 0.5% 19-30/04/2021 | 8,371,000.00 | 99.23 | EUR | 8,344,362.16 | 0.56 |
| LOGICOR FIN 1.5% 18-14/11/2022 | 1,500,000.00 | 100.69 | EUR | 1,518,870.06 | 0.10 |
| MORGAN STANLEY 5.375% 10-10/08/2020 | 15,000,000.00 | 101.40 | EUR | 15,725,820.81 | 1.06 |
| NATIONWIDE BLDG 6.75% 10-22/07/2020 | 15,675,000.00 | 100.73 | EUR | 16,521,278.14 | 1.11 |
| NORDEA BANK AB 4% 10-29/03/2021 | 7,000,000.00 | 102.13 | EUR | 7,150,837.95 | 0.48 |
| PACCAR FINANCIAL 0.125% 19-07/03/2022 | 927,000.00 | 97.90 | EUR | 907,605.57 | 0.06 |
| PSA BANQUE FRANC 0.625% 17-10/10/2022 | 3,600,000.00 | 96.22 | EUR | 3,474,638.05 | 0.23 |
| RABOBANK 3.75% 10-09/11/2020 | 15,000,000.00 | 101.24 | EUR | 15,405,387.59 | 1.04 |
| RCI BANQUE 0.75% 17-12/01/2022 | 13,381,000.00 | 96.21 | EUR | 12,896,023.75 | 0.87 |
| RCI BANQUE 17-14/03/2022 | 3,305,000.00 | 96.83 | EUR | 3,200,359.46 | 0.22 |
| ROLLS-ROYCE PLC 2.125% 13-18/06/2021 | 4,600,000.00 | 100.47 | EUR | 4,698,428.74 | 0.32 |
| ROYAL BK SCOTLND 0.625% 18-02/03/2022 | 21,067,000.00 | 97.71 | EUR | 20,595,524.23 | 1.40 |
| RWE FINANCE BV 6.5% 09-10/08/2021 | 6,539,000.00 | 108.09 | EUR | 7,339,914.88 | 0.49 |

| SANTANDER INTL 1.375% 16-03/03/2021 | 7,100,000.00 | 100.21 | EUR | 7,122,717.83 | 0.48 |
| --- | --- | --- | --- | --- | --- |
| SANTANDER UK PLC 18-14/08/2020 FRN | 20,000,000.00 | 99.76 | EUR | 19,952,600.00 | 1.35 |
| SCANIA CV AB 18-19/10/2020 FRN | 6,858,000.00 | 99.76 | EUR | 6,841,957.81 | 0.46 |
| SCHAEFFLER AG 1.125% 19-26/03/2022 | 13,925,000.00 | 91.56 | EUR | 12,751,811.93 | 0.86 |
| SCHNEIDER ELEC 2.5% 13-06/09/2021 | 2,200,000.00 | 102.65 | EUR | 2,289,355.08 | 0.15 |
| SCHNEIDER ELEC 3.625% 10-20/07/2020 | 1,050,000.00 | 101.01 | EUR | 1,087,170.26 | 0.07 |
| SIAS 4.5% 10-26/10/2020 | 10,000,000.00 | 102.22 | EUR | 10,415,072.79 | 0.70 |
| SIEMENS FINAN 0% 19-05/09/2021 | 10,999,000.00 | 99.38 | EUR | 10,930,449.83 | 0.74 |
| SIEMENS FINAN 0% 20-20/02/2023 | 8,000,000.00 | 98.26 | EUR | 7,860,657.60 | 0.53 |
| SIEMENS FINAN 1.75% 13-12/03/2021 | 10,000,000.00 | 101.20 | EUR | 10,129,125.59 | 0.68 |
| SOCIETE GENERALE 0.5% 17-13/01/2023 | 20,000,000.00 | 95.98 | EUR | 19,217,773.48 | 1.30 |
| SOCIETE GENERALE 19-06/09/2021 FRN | 16,500,000.00 | 98.58 | EUR | 16,268,597.22 | 1.09 |
| SSE PLC 2% 13-17/06/2020 | 4,045,000.00 | 100.37 | EUR | 4,123,482.73 | 0.28 |
| STANDARD CHART 3.625% 12-23/11/2022 | 6,261,000.00 | 100.58 | EUR | 6,377,487.40 | 0.43 |
| TELEFONICA EMIS 0,318% 16-17/10/2020 | 5,000,000.00 | 99.89 | EUR | 5,001,854.98 | 0.34 |
| TENNET HLD BV 0.875% 15-04/06/2021 | 6,000,000.00 | 100.43 | EUR | 6,068,676.23 | 0.41 |
| THALES SA 0% 19-31/05/2022 | 9,400,000.00 | 97.92 | EUR | 9,204,852.24 | 0.62 |
| UNIONE DI BANCHE 0.75% 17-17/10/2022 | 3,000,000.00 | 95.29 | EUR | 2,868,889.92 | 0.19 |
| UNIONE DI BANCHE 1% 19-22/07/2022 | 10,000,000.00 | 96.45 | EUR | 9,713,839.68 | 0.65 |
| VALEO SA 0.375% 17-12/09/2022 | 8,900,000.00 | 93.17 | EUR | 8,310,795.31 | 0.56 |
| VIVENDI SA 0% 19-13/06/2022 | 1,500,000.00 | 98.23 | EUR | 1,473,438.60 | 0.10 |
| VOLKSWAGEN BANK 0.375% 19-05/07/2022 | 18,000,000.00 | 96.29 | EUR | 17,381,766.48 | 1.17 |
| WELLS FARGO CO 2.25% 13-03/09/2020 | 10,000,000.00 | 100.49 | EUR | 10,178,475.36 | 0.68 |
| WILLOW NO.2 PLC 3.375% 12-27/06/2022 | 12,849,000.00 | 104.14 | EUR | 13,709,857.89 | 0.92 |
| WPP FINANCE 2013 18-20/03/2022 FRN | 11,625,000.00 | 98.74 | EUR | 11,478,248.99 | 0.77 |
| UCI securities |  |  |  | 146,074,381.61 | 9.83 |
| Retail UCITS and AIFs and their equivalents from other European Union member states intended for non-professional investors | 146,074,381.61 | 9.83 |
| BNP PARIBAS MONEY 3M-IC | 6,323.00 | 23,102.08 | EUR | 146,074,381.61 | 9.83 |
| Forward financial instruments |  |  |  | -356,746.96 | -0.02 |
| Futures |  |  |  | 29,500.00 | - |
| EURO-SCHATZ FUTURE 08/06/2020 | 300.00 | 112.19 | EUR | 29,500.00 | - |
| Interest rate swaps |  |  |  | -356,746.96 | -0.02 |
| IRS 54 | - | - | EUR | -12,994.77 | - |
| IRS 60 | - | - | EUR | -20,041.90 | - |
| IRS 61 | - | - | EUR | -55,753.34 | - |
| IRS 62 | - | - | EUR | -13,340.57 | - |
| IRS 63 | - | - | EUR | -62,736.78 | - |
| IRS 64 | - | - | EUR | -171,480.74 | -0.02 |
| IRS 65 | - | - | EUR | -155,806.96 | -0.02 |
| IRS 66 | - | - | EUR | 16,873.36 | - |

| IRS 68 | - | - | EUR | 125,201.49 | 0.01 |
| --- | --- | --- | --- | --- | --- |
| IRS 69 | - | - | EUR | 26,413.46 | - |
| IRS 70 | - | - | EUR | -13,823.60 | - |
| IRS 72 | - | - | EUR | -35,949.02 | - |
| IRS 73 | - | - | EUR | -65,026.18 | - |
| IRS 75 | - | - | EUR | -31,929.33 | - |
| IRS 76 | - | - | EUR | 113,647.92 | 0.01 |
| Margin calls |  |  |  | -29,500.00 | - |
| Receivables |  |  |  | 883,451.11 | 0.06 |
| Debts |  |  |  | -31,140,067.01 | -2.10 |
| Other financial accounts |  |  |  | 55,453,144.34 | 3.73 |
| TOTAL NET ASSETS | 1,486,197,027.85 | 100.00 |

ADDITIONAL INFORMATION FOR INVESTORS IN THE FEDERAL REPUBLIC OF GERMANY
BNP Paribas Asset Management Belgium, Zweigniederlassung Frankfurt, Europa-Allee 12, 60327 Frankfurt am Main, has undertaken the function of Information Agent in the Federal Republic of Germany (hereinafter the “German Information Agent”).
Applications for the redemptions and conversion of shares may be sent to BNP Paribas Securities Services Paris, 9, rue du Débarcadère, 93500 Pantin (hereinafter “the Paying Agent”).
All payments to investors, including redemption proceeds and potential distributions may, upon request, be paid through the Paying Agent.
The prospectus, the key investor information documents, the management regulations and the annual and semi-annual reports may be obtained, free of charge, in hardcopy form at the office of the German Information Agent during normal opening hours.
The issue, redemption and conversion prices, the net asset value as well as any notices to investors are also available from the Paying Agent. In addition, the issue and redemption prices are published on www.bnpparibas-am.de.
No units of EU UCITS will be issued as printed individual certificates.
In addition, communications to investors in the Federal Republic of Germany will be made available by means of a durable medium (section 167 of the Investment Code) in the following cases:
- suspension of the redemption of the units,
- termination of the management of the fund or its liquidation,
- any amendments to the company rules which are inconstant with the previous investment principles, which affect material investor rights or which relate to remuneration and reimbursement of expenses that may be paid or made out of the asset pool,
- merger of the fund with one or more other funds and
- the change of the fund into a feeder fund or the modification of a master fund.

Translation (ENFR, 2020-03-31):
# BNP PARIBAS BOND 6M (ex BNP PARIBAS BOND CASH EQUIVALENT)
Fonds Commun de Placement
Société de Gestion :
BNP Paribas Asset Management France
1, boulevard Haussmann
75009 Paris

## Rapport du Commissaire aux Comptes sur les comptes annuels
Exercice clos le 31 mars 2020
Aux porteurs de parts du FCP BNP PARIBAS BOND 6M (ex BNP PARIBAS BOND CASH EQUIVALENT),

###### Opinion
En exécution de la mission qui nous a été confiée par la société de gestion, nous avons effectué l’audit des comptes annuels de l’organisme de placement collectif BNP PARIBAS BOND 6M (ex BNP PARIBAS BOND CASH EQUIVALENT) constitué sous forme de fonds
commun de placement (FCP) relatifs à l’exercice clos le 31 mars 2020, tels qu’ils sont joints au présent rapport. Ces comptes ont été établis par la société de gestion sur la base des éléments disponibles dans un contexte évolutif de crise liée au Covid-19.
Nous certifions que les comptes annuels sont, au regard des règles et principes comptables français, réguliers et sincères et donnent une image fidèle du résultat des opérations de l’exercice écoulé ainsi que de la situation financière et du patrimoine du FCP, à la fin de cet exercice.

###### Fondement de l’opinion sur les comptes annuels
Référentiel d’audit
Nous avons effectué notre audit selon les normes d’exercice professionnel applicables en France. Nous estimons que les éléments que nous avons collectés sont suffisants et appropriés pour fonder notre opinion.
Les responsabilités qui nous incombent en vertu de ces normes sont indiquées dans la partie
« Responsabilités du commissaire aux comptes relatives à l’audit des comptes annuels » du présent rapport.
Indépendance
Nous avons réalisé notre mission d’audit dans le respect des règles d’indépendance qui nous sont applicables, sur la période du 30 mars 2019 à la date d’émission de notre rapport, et notamment nous n’avons pas fourni de services interdits par le code de déontologie de la profession de commissaire aux comptes.

###### Justification des appréciations
En application des dispositions des articles L. 823-9 et R. 823-7 du code de commerce relatives à la justification de nos appréciations, nous vous informons que les appréciations les plus importantes auxquelles nous avons procédé, selon notre jugement professionnel, ont porté sur le caractère approprié des principes comptables appliqués, notamment pour ce qui concerne les instruments financiers en portefeuille et sur la présentation d’ensemble des comptes, au regard du plan comptable des organismes de placement collectif à capital variable.
Les appréciations ainsi portées s'inscrivent dans le contexte de l’audit des comptes annuels pris dans leur ensemble et de la formation de notre opinion exprimée ci-avant. Nous n’exprimons pas d’opinion sur des éléments de ces comptes annuels pris isolément.

###### Vérifications spécifiques
Nous avons également procédé, conformément aux normes d’exercice professionnel applicables en France, aux vérifications spécifiques prévues par les textes légaux et réglementaires.
Nous n'avons pas d'observation à formuler sur la sincérité et la concordance avec les comptes annuels des informations données dans le rapport de gestion établi par la société de gestion.

###### Responsabilités de la société de gestion relatives aux comptes annuels
Il appartient à la société de gestion d’établir des comptes annuels présentant une image fidèle conformément aux règles et principes comptables français ainsi que de mettre en place le contrôle interne qu'elle estime nécessaire à l'établissement de comptes annuels ne comportant pas d'anomalies significatives, que celles-ci proviennent de fraudes ou résultent d'erreurs.
Lors de l’établissement des comptes annuels, il incombe à la société de gestion d’évaluer la
capacité du FCP à poursuivre son exploitation, de présenter dans ces comptes, le cas
échéant, les informations nécessaires relatives à la continuité d’exploitation et d’appliquer la convention comptable de continuité d’exploitation, sauf s’il est prévu de liquider le FCP ou de cesser son activité.
Les comptes annuels ont été arrêtés par la société de gestion.

###### Responsabilités du commissaire aux comptes relatives à l’audit des comptes
annuels
Il nous appartient d’établir un rapport sur les comptes annuels. Notre objectif est d’obtenir l’assurance raisonnable que les comptes annuels pris dans leur ensemble ne comportent pas d’anomalies significatives. L’assurance raisonnable correspond à un niveau élevé
d’assurance, sans toutefois garantir qu’un audit réalisé conformément aux normes d’exercice professionnel permet de systématiquement détecter toute anomalie significative.
Les anomalies peuvent provenir de fraudes ou résulter d’erreurs et sont considérées comme significatives lorsque l’on peut raisonnablement s’attendre à ce qu’elles puissent, prises individuellement ou en cumulé, influencer les décisions économiques que les utilisateurs des comptes prennent en se fondant sur ceux-ci.
Comme précisé par l’article L.823-10-1 du code de commerce, notre mission de certification des comptes ne consiste pas à garantir la viabilité ou la qualité de la gestion de votre FCP.
Dans le cadre d’un audit réalisé conformément aux normes d’exercice professionnel applicables en France, le commissaire aux comptes exerce son jugement professionnel tout au long de cet audit. En outre:
- il identifie et évalue les risques que les comptes annuels comportent des anomalies significatives, que celles-ci proviennent de fraudes ou résultent d’erreurs, définit et met en œuvre des procédures d’audit face à ces risques, et recueille des éléments qu’il estime suffisants et appropriés pour fonder son opinion. Le risque de non- détection d’une anomalie significative provenant d’une fraude est plus élevé que celui d’une anomalie significative résultant d’une erreur, car la fraude peut impliquer la collusion, la falsification, les omissions volontaires, les fausses déclarations ou le contournement du contrôle interne ;
- il prend connaissance du contrôle interne pertinent pour l’audit afin de définir des procédures d’audit appropriées en la circonstance, et non dans le but d’exprimer une opinion sur l’efficacité du contrôle interne ;
- il apprécie le caractère approprié des méthodes comptables retenues et le caractère raisonnable des estimations comptables faites par la société de gestion, ainsi que les informations les concernant fournies dans les comptes annuels;
- il apprécie le caractère approprié de l’application par la société de gestion de laconvention comptable de continuité d’exploitation et, selon les éléments collectés, l’existence ou non d’une incertitude significative liée à des événements ou à des circonstances susceptibles de mettre en cause la capacité du FCP à poursuivre son exploitation. Cette appréciation s’appuie sur les éléments collectés jusqu’à la date de son rapport, étant toutefois rappelé que des circonstances ou événements ultérieurs pourraient mettre en cause la continuité d’exploitation. S’il conclut à l’existence d’une incertitude significative, il attire l’attention des lecteurs de son rapport sur les informations fournies dans les comptes annuels au sujet de cette incertitude ou, si ces informations ne sont pas fournies ou ne sont pas pertinentes, il formule une certification avec réserve ou un refus de certifier;
- il apprécie la présentation d’ensemble des comptes annuels et évalue si les comptes annuels reflètent les opérations et événements sous-jacents de manière à en donner une image fidèle.

Compte tenu du délai d'obtention de certaines informations nécessaires à la finalisation de nos travaux, le présent rapport est daté du 23 juillet 2020.
Paris La Défense, le 23 juillet 2020
Bilan actif
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Immobilisations Nettes Dépôts Instruments financiers Actions et valeurs assimilées Négociées sur un marché réglementé ou assimilé Non négociées sur un marché réglementé ou assimilé Obligations et valeurs assimilées Négociées sur un marché réglementé ou assimilé Non négociées sur un marché réglementé ou assimilé Titres de créances Négociés sur un marché réglementé ou assimilé - Titres de créances négociables Négociés sur un marché réglementé ou assimilé - Autres titres de créances Non négociés sur un marché réglementé ou assimilé Titres d'organismes de placement collectif OPCVM et FIA à vocation générale destinés aux non professionnels et équivalents d´autres pays Etats membres de l'Union Européenne Autres Fonds destinés à des non professionnels et équivalents d´autres pays Etats membres de l´Union Européenne Fonds professionnels à vocation générale et équivalents d´autres pays Etats membres de l´Union Européenne et organismes de titrisations cotés Autres Fonds d´investissement professionnels et équivalents d´autres pays Etats membres de l´Union Européenne et organismes de titrisations non cotés Autres organismes non européens Opérations temporaires sur titres Créances représentatives de titre reçus en pension Créances représentatives de titres prêtés Titres empruntés Titres donnés en pension Autres opérations temporaires Instruments financiers à terme Opérations sur un marché réglementé ou assimilé Autres opérations Autres instruments financiers Créances Opérations de change à terme de devises Autres Comptes financiers Liquidités | - | - |
| - | - |
| 1,461,639,382.60 | 1,232,212,418.55 |
| - | - |
| - | - |
| - | - |
| 344,149,735.04 | 275,793,825.73 |
| 344,149,735.04 | 275,793,825.73 |
| - | - |
| 971,133,129.72 | 845,055,560.61 |
| 139,841,284.99 | 125,958,116.95 |
| 831,291,844.73 | 719,097,443.66 |
| - | - |
| 146,074,381.61 | 111,363,032.21 |
| 146,074,381.61 | 111,363,032.21 |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| 282,136.23 | - |
| - | - |
| 282,136.23 | - |
| - | - |
| 883,451.11 | 258,979.87 |
| 8,920.45 | 8,979.87 |
| 874,530.66 | 250,000.00 |
| 55,453,144.34 | 10,843.07 |
| 55,453,144.34 | 10,843.07 |
| TOTAL DE L'ACTIF | 1,517,975,978.05 | 1,232,482,241.49 |

Bilan passif
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Capitaux propres Capital Plus et moins-values nettes antérieures non distribuées (a) Report à nouveau (a) Plus et moins-values nettes de l'exercice (a,b) Résultat de l'exercice (a,b) Total capitaux propres (= Montant représentatif de l'actif net) Instruments financiers Opérations de cession sur instruments financiers Opérations temporaires sur titres Dettes représentatives de titres donnés en pension Dettes représentatives de titres empruntés Autres opérations temporaires Instruments financiers à terme Opérations sur un marché réglementé ou assimilé Autres opérations Dettes Opérations de change à terme de devises Autres Comptes financiers Concours bancaires courants Emprunts | - | - |
| 1,489,876,388.65 | 1,210,591,716.84 |
| - | - |
| 177.84 | 171.61 |
| -25,237,460.97 | -7,846,049.55 |
| 21,557,922.33 | 19,347,151.03 |
| 1,486,197,027.85 | 1,222,092,989.93 |
| 638,883.19 | 276,095.00 |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| 638,883.19 | 276,095.00 |
| - | - |
| 638,883.19 | 276,095.00 |
| 31,140,067.01 | 10,113,156.56 |
| 8,707.85 | 8,912.70 |
| 31,131,359.16 | 10,104,243.86 |
| - | - |
| - | - |
| - | - |
| TOTAL DU PASSIF | 1,517,975,978.05 | 1,232,482,241.49 |

- Y compris comptes de régularisations.
- Diminués des acomptes versés au titre de l'exercice.

Hors-bilan
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Opérations de couverture |  |  |
| Engagements sur marchés réglementés ou assimilés |  |  |
| Engagements de gré a gré |  |  |
| Autres engagements |  |  |
| Autres opérations |  |  |
| Engagements sur marchés réglementés ou assimilés |  |  |
| Futures |  |  |
| achat EURO-SCHATZ FUTURE 08/06/2020 | 33,657,000.00 | - |
| Engagements de gré a gré |  |  |
| Swaps de taux |  |  |
| achat IRS 30 | - | 50,000,000.00 |
| achat IRS 31 | - | 50,000,000.00 |
| achat IRS 32 | - | 50,000,000.00 |
| achat IRS 33 | - | 50,000,000.00 |
| achat IRS 34 | - | 50,000,000.00 |
| achat IRS 35 | - | 50,000,000.00 |
| achat IRS 36 | - | 50,000,000.00 |
| achat IRS 38 | - | 50,000,000.00 |
| achat IRS 39 | - | 50,000,000.00 |
| achat IRS 40 | - | 50,000,000.00 |
| achat IRS 41 | - | 50,000,000.00 |
| achat IRS 42 | - | 50,000,000.00 |
| achat IRS 43 | - | 50,000,000.00 |
| achat IRS 44 | - | 50,000,000.00 |
| achat IRS 45 | - | 50,000,000.00 |
| achat IRS 47 | - | 50,000,000.00 |
| achat IRS 50 | - | 50,000,000.00 |
| achat IRS 53 | - | 50,000,000.00 |
| achat IRS 54 | 50,000,000.00 | 50,000,000.00 |
| achat IRS 56 | - | 100,000,000.00 |
| achat IRS 60 | 50,000,000.00 | 50,000,000.00 |
| achat IRS 61 | 50,000,000.00 | 50,000,000.00 |
| achat IRS 62 | 50,000,000.00 | 50,000,000.00 |
| achat IRS 63 | 50,000,000.00 | 50,000,000.00 |

| achat IRS 64 | 100,000,000.00 | - |
| --- | --- | --- |
| achat IRS 65 | 100,000,000.00 | - |
| achat IRS 66 | 50,000,000.00 | - |
| achat IRS 68 | 100,000,000.00 | - |
| achat IRS 69 | 50,000,000.00 | - |
| achat IRS 70 | 50,000,000.00 | - |
| achat IRS 72 | 50,000,000.00 | - |
| achat IRS 73 | 50,000,000.00 | - |
| achat IRS 75 | 50,000,000.00 | - |
| achat IRS 76 | 50,000,000.00 | - |
| Autres engagements |  |  |

Compte de résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Produits sur opérations financières Produits sur actions et valeurs assimilées Produits sur obligations et valeurs assimilées Produits sur titres de créances Produits sur acquisitions et cessions temporaires de titres Produits sur instruments financiers à terme Produits sur dépôts et sur comptes financiers Autres produits financiers TOTAL I | - 5,223,890.68 16,926,986.32 - 93,072.77 - 230.70 22,244,180.47 | - 4,983,586.14 17,116,565.56 - -104,275.74 - - 21,995,875.96 |
| Charges sur opérations financières Charges sur acquisitions et cessions temporaires de titres Charges sur instruments financiers à terme Charges sur dettes financières Autres charges financières TOTAL II | - -514,953.76 -259,709.31 - -774,663.07 | - -66,151.65 -130,816.60 - -196,968.25 |
| Résultat sur opérations financières (I + II) | 21,469,517.40 | 21,798,907.71 |
| Autres produits (III) | - | - |
| Frais de gestion et dotations aux amortissements (IV) | -1,248,799.31 | -1,148,025.73 |
| Résultat net de l'exercice (I + II + III + IV) | 20,220,718.09 | 20,650,881.98 |
| Régularisation des revenus de l'exercice (V) | 1,337,204.24 | -1,303,730.95 |
| Acomptes sur résultat versés au titre de l'exercice (VI) | - | - |
| Résultat (I + II + III + IV + V + VI) | 21,557,922.33 | 19,347,151.03 |


### Règles et Méthodes Comptables
Les comptes annuels sont présentés sous la forme prévue par le règlement ANC n°2014-01, modifié. Les comptes ont été établis par la société de gestion sur la base des éléments disponibles dans un contexte évolutif de crise liée au Covid-19.
La devise de comptabilité est l’euro.
Toutes les valeurs mobilières qui composent le portefeuille ont été comptabilisées au coût historique, frais exclus.
Les titres et instruments financiers à terme ferme et conditionnel détenus en portefeuille libellés en devises sont convertis dans la devise de comptabilité sur la base des taux de change relevés à Paris au jour de l'évaluation.
Le portefeuille est évalué lors de chaque valeur liquidative et lors de l'arrêté des comptes selon les méthodes suivantes :

###### Valeurs mobilières
Les titres cotés : à la valeur boursière - coupons courus inclus (cours clôture jour)
Toutefois, les valeurs mobilières dont le cours n'a pas été constaté le jour de l'évaluation, ou cotées par des contributeurs et pour lequel le cours a été corrigé, de même que les titres qui ne sont pas négociés sur un marché réglementé, sont évalués sous la responsabilité de la société de gestion (ou du conseil d'administration pour une Sicav), à leur valeur probable de négociation. Les prix sont corrigés par la société de gestion en fonction de sa connaissance des émetteurs et/ou des marchés.
Les O.P.C. : à la dernière valeur liquidative connue, à défaut à la dernière valeur estimée. Les valeurs liquidatives des titres d’organismes de placements collectifs étrangers valorisant sur une base mensuelle, sont confirmées par les administrateurs de fonds. Les valorisations sont mises à jour de façon hebdomadaire sur la base d’estimations communiquées par les administrateurs de ces OPC et validées par le gérant.
Les titres de créances et assimilés négociables qui ne font pas l'objet de transactions significatives sont évalués par l'application d'une méthode actuarielle, le taux retenu étant celui applicable à des émissions de titres équivalents affecté, le cas échéant, d'un écart représentatif des caractéristiques intrinsèques de l'émetteur. En l'absence de sensibilité, les titres d'une durée résiduelle égale à trois mois sont valorisés au dernier taux jusqu'à l'échéance et ceux acquis à moins de trois mois, les intérêts sont linéarisés.
Les acquisitions et cessions temporaires de titres :
- Les prêts de titres : la créance représentative des titres prêtés est évaluée à la valeur du marché des titres.
- Les emprunts de titres : les titres empruntés ainsi que la dette représentative des titres empruntés sont évalués à la valeur du marché des titres.
- Les collatéraux : s'agissant des titres reçus en garantie dans le cadre des opérations de prêts de titres, l'OPC a opté pour une présentation de ces titres dans les comptes du bilan à hauteur de la dette correspondant à l'obligation de restitution de ceux-ci.
- Les pensions livrées d'une durée résiduelle inférieure ou égale à trois mois : individualisation de la créance sur la base du prix du contrat. Dans ce cas, une linéarisation de la rémunération est effectuée.
- Les pensions long terme : Elles sont enregistrées et évaluées à leur nominal, même si elles ont une échéance supérieure à trois mois. Ce montant est majoré des intérêts courus qui s’y rattachent. Toutefois, certains contrats prévoient des conditions particulières en cas de demande de remboursement anticipé afin de prendre en compte l’impact de hausse de la courbe de financement de la contrepartie. Les intérêts courus peuvent alors être diminués de cet impact, sans valeur planchée. L’impact est proportionnel à la durée résiduelle de la pension et l’écart constaté entre la marge contractuelle et la marge de marché pour une date de maturité identique.
- Les mises en pensions d'une durée résiduelle inférieure ou égale à trois mois : valeur boursière. La dette valorisée sur la base de la valeur contractuelle est inscrite au passif du bilan. Dans ce cas, une linéarisation de la rémunération est effectuée.


###### Instruments financiers à terme et conditionnels
Futures : cours de compensation jour.
L'évaluation hors bilan est calculée sur la base du nominal, de son cours de compensation et, éventuellement, du cours de change.
Options : cours de clôture jour ou, à défaut, le dernier cours connu.
Options OTC : ces options font l'objet d'une évaluation à leur valeur de marché, en fonction des cours communiqués par les contreparties. Ces valorisations font l'objet de contrôles par la société de gestion.
L'évaluation hors bilan est calculée en équivalent sous-jacent en fonction du delta et du cours du sous-jacent et, éventuellement, du cours de change.
Change à terme : réévaluation des devises en engagement au cours du jour le report / déport calculé en fonction de l'échéance du contrat.
Dépôts à terme : ils sont enregistrés et évalués pour leur montant nominal, même s’ils ont une échéance supérieure à trois mois. Ce montant est majoré des intérêts courus qui s’y rattachent. Toutefois, certains contrats prévoient des conditions particulières en cas de demande de remboursement anticipé afin de prendre en compte l’impact de hausse de la courbe de financement de la contrepartie. Les intérêts courus peuvent alors être diminués de cet impact, sans pouvoir être négatifs. Les dépôts à terme sont alors au minimum évalués à leur valeur nominale.
Swaps de taux :
- pour les swaps d'échéance inférieure à trois mois, les intérêts sont linéarisés
- les swaps d'échéance supérieure à trois mois sont revalorisés à la valeur du marchéLes produits synthétiques (association d’un titre et d’un swap) sont comptabilisés globalement. Les intérêts des swaps à recevoir dans le cadre de ces produits sont valorisés linéairement.

Les assets swaps et les produits synthétiques sont valorisés sur la base de sa valeur de marché. L’évaluation des assets swaps est basée sur l’évaluation des titres couverts à laquelle est retranchée l’incidence de la variation des spreads de crédit. Cette incidence est évaluée à partir de la moyenne des spreads communiqués par 4 contreparties interrogées mensuellement, corrigée d’une marge, en fonction de la notation de l’émetteur.
L'engagement hors bilan des swaps correspond au nominal.
Swaps structurés (swaps à composante optionnelle) : ces swaps font l'objet d'une évaluation à leur valeur de marché, en fonction des cours communiqués par les contreparties. Ces valorisations font l'objet de contrôles par la société de gestion.
L'engagement hors bilan de ces swaps correspond à la valeur nominale.
Le cours d’évaluation des Crédit Défault Swaps (CDS) émane d’un contributeur qui nous est fourni par la société de gestion. L’engagement hors bilan des CDS correspond à la valeur nominale.

###### Frais de gestion financière et frais administratifs externes à la societe de gestion
- 0.50% TTC maximum pour la part « Classic » de classe D
- 0.50% TTC maximum pour la part « Classic » de classe C
- 0.25% TTC maximum pour la part R
- 0.70% TTC maximum pour la part Mandat
- 0.08% TTC maximum pour la part X
- 0.30% TTC maximum pour la part I
- 0.25% TTC maximum pour la part Privilege
- 0.30% TTC maximum pour la part I HLa dotation est calculée sur la base de l’actif net, déduction faite des OPC en portefeuille. Ces frais, n’incluant pas les frais de transaction, seront directement imputés au compte de résultat du Fonds.

Ces frais recouvrent tous les frais facturés à l’OPC, à l’exception des frais de transaction. Les frais de transactions incluent les frais d’intermédiaires (courtage, impôts de bourse,…) et la commission de mouvement, le cas échéant, qui peut être perçue notamment par le dépositaire et la société de gestion.

###### Commission de surperformance
Catégories de part « Classic », « R », Mandat », « I » et « Privilege » : 20% TTC de la performance au-delà d’une performance supérieure ou égale à celle de l’EONIA capitalisé sur la période de référence.
Catégories de part « I H » : 20% TTC de la performance au-delà d’une performance supérieure ou égale à celle de l’indice Effective Federal Funds Rate sur la période de référence.

##### METHODE DE CALCUL DE LA COMMISSION DE SURPERFORMANCE :
A chaque établissement de la valeur liquidative, la surperformance du FCP est définie comme la différence positive entre l’actif net du FCP avant prise en compte d’une éventuelle provision pour commission de surperformance et l’actif net d’un OPCVM fictif réalisant la performance de l’indicateur de référence et enregistrant le même schéma de souscriptions et de rachats (en quantité) que le FCP réel avec application du High Water Mark.
Mécanisme de High Water Mark : la commission de surperformance sera facturée au FCP si et seulement si la valeur liquidative constatée le dernier jour de bourse de la période est supérieure à la plus haute des valeurs liquidatives constatées le dernier jour de bourse de chaque période précédente.
La première période de référence pour mesurer la performance des parts « Classic », « R », « Mandat » et
« I » sera comprise entre le 1er janvier 2018 et le 31 mars 2019. Les périodes de référence suivantes seront comprises entre le 1er avril et le 31 mars de chaque année.
La première période de référence pour mesurer la performance des parts « Privilege » sera comprise entre le 29 janvier 2018 et le 31 mars 2019.
La première période de référence pour mesurer la performance des parts « I H » sera comprise entre le 4 septembre 2018 et le 31 mars 2020.
- Si, sur la période, la performance du FCP est inférieure ou égale au taux de référence défini précédemment, la part variable des frais de gestion sera nulle.
- Si, sur la période, la performance du FCP commun de placement est supérieure au taux de référence et que le mécanisme de High Water Mark s’applique, la part variable des frais de gestion représentera 20% TTC de la différence positive entre la performance du fonds commun de placement et ce taux de référence.

En cas de rachat, la part de la provision pour commission de performance correspondant aux parts rachetées est définitivement acquise au gestionnaire financier, et vient en dotation à la provision pour commission de performance définitive. La part de la provision pour commission de performance correspondant aux parts restant dans le FCP est appelée provision pour commission de performance disponible (car pouvant être remise en cause).

###### Rétrocession de frais de gestion
Néant

###### Méthode de comptabilisation des intérêts
Intérêts encaissés

###### Affectation des résultats réalisés
- Capitalisation pour les parts « Classic » de classe C ; R ; Mandat ; X ; I ; Privilege, I H
- Distribution pour la part « Classic » de classe D.


###### Affectation des plus-values nettes réalisées
Capitalisation pour les parts « Classic » de classe C ; R ; Mandat ; X ; I ; Privilege ; « Classic » de classe D , I H

###### Changements affectant le fonds
Néant
Evolution de l'actif net
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Actif net en début d'exercice | 1,222,092,989.93 | 1,411,836,692.35 |
| Souscriptions (y compris les commissions de souscription acquises à l'O.P.C.) | 1,539,936,112.90 | 760,934,920.62 |
| Rachats (sous déduction des commissions de rachat acquises à l'O.P.C.) | -1,251,424,487.88 | -948,905,598.12 |
| Plus-values réalisées sur dépôts et instruments financiers | 643,014.86 | 307,779.64 |
| Moins-values réalisées sur dépôts et instruments financiers | -24,372,555.80 | -8,403,315.77 |
| Plus-values réalisées sur instruments financiers à terme | 13,000.00 | 162,731.00 |
| Moins-values réalisées sur instruments financiers à terme | - | -473,070.94 |
| Frais de transaction | -553.00 | -7,333.26 |
| Différences de change | 478.30 | 641.30 |
| Variation de la différence d'estimation des dépôts et instruments financiers | -20,692,251.17 | -14,122,860.65 |
| Différence d'estimation exercice N | -41,339,300.17 | -20,647,049.00 |
| Différence d'estimation exercice N-1 | 20,647,049.00 | 6,524,188.35 |
| Variation de la différence d'estimation des instruments financiers à terme | -51,151.96 | 171,976.60 |
| Différence d'estimation exercice N | -327,246.96 | -276,095.00 |
| Différence d'estimation exercice N-1 | 276,095.00 | 448,071.60 |
| Distribution de l'exercice antérieur sur plus et moins-values nettes | - | - |
| Distribution de l'exercice antérieur sur résultat | -168,286.42 | -60,454.82 |
| Résultat net de l'exercice avant compte de régularisation | 20,220,718.09 | 20,650,881.98 |
| Acompte(s) versé(s) au cours de l'exercice sur plus et moins-values nettes | - | - |
| Acompte(s) versé(s) au cours de l'exercice sur résultat | - | - |
| Autres éléments | - | - |
| Actif net en fin d'exercice | 1,486,197,027.85 | 1,222,092,989.93 |

Complément d'information 1
|  | Exercice 31/03/2020 |
| --- | --- |
| Engagements reçus ou donnés |  |
| Engagements reçus ou donnés (garantie de capital ou autres engagements) (*) | - |
| Valeur actuelle des instruments financiers inscrits en portefeuille constitutifs de dépôts de garantie |  |
| Instruments financiers reçus en garantie et non inscrits au bilan | - |
| Instruments financiers donnés en garantie et maintenus dans leur poste d'origine | - |
| Instruments financiers en portefeuille émis par le prestataire ou les entités de son groupe |  |
| Dépôts | - |
| Actions | - |
| Titres de taux | - |
| OPC | 146,074,381.61 |
| Acquisitions et cessions temporaires sur titres | - |
| Swaps (en nominal) | 50,000,000.00 |
| Valeur actuelle des instruments financiers faisant l'objet d'une acquisition temporaire |  |
| Titres acquis à réméré | - |
| Titres pris en pension | - |
| Titres empruntés | - |

(*) Pour les OPC garantis, l'information figure dans les règles et méthodes comptables
| Complément d'information 2 | Exercice 31/03/2020 |  |
| --- | --- | --- |
| Emissions et rachats pendant l'exercice comptable | Nombre de titres |  |
| Catégorie de classe X (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe Mandat (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe Privilege (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe R (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe I (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe CLASSIC C (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe CLASSIC D (Devise: EUR) Nombre de titres émis Nombre de titres rachetés Catégorie de classe I H (Devise: USD) Nombre de titres émis Nombre de titres rachetés Commissions de souscription et/ou de rachat | 78,056.963 |  |
| 72,574.906 |  |
| 1,716.587 |  |
| 4,028.221 |  |
| 95,780.306 |  |
| 234,203.192 |  |
| 262,495.038 |  |
| 266,162.819 |  |
| 11,289.340 |  |
| 7,607.965 |  |
| 1,105,676.632 |  |
| 1,320,172.465 |  |
| 1,202.572 |  |
| 7,127.102 |  |
| - |  |
| - |  |
| Montant (EUR) |  |
| Commissions de souscription acquises à l'OPC | - |  |
| Commissions de rachat acquises à l'OPC | - |  |
| Commissions de souscription perçues et rétrocédées | 333,921.06 |  |
| Commissions de rachat perçues et rétrocédées | - |  |
| Frais de gestion | Montant (EUR) | % de l'actif net moyen |
| Catégorie de classe CLASSIC D (Devise: EUR) |  |  |
| Frais de gestion et de fonctionnement (*) | 11,799.92 | 0.11 |
| Commissions de surperformance | - | - |
| Autres frais | - | - |

| Frais de gestion | Montant (EUR) | % de l'actif net moyen |
| --- | --- | --- |
| Catégorie de classe Mandat (Devise: EUR) Frais de gestion et de fonctionnement (*) Commissions de surperformance Autres frais Catégorie de classe I H (Devise: USD) Frais de gestion et de fonctionnement (*) Commissions de surperformance Autres frais Catégorie de classe I (Devise: EUR) Frais de gestion et de fonctionnement (*) Commissions de surperformance Autres frais Catégorie de classe R (Devise: EUR) Frais de gestion et de fonctionnement (*) Commissions de surperformance Autres frais Catégorie de classe X (Devise: EUR) Frais de gestion et de fonctionnement (*) Commissions de surperformance Autres frais Catégorie de classe Privilege (Devise: EUR) Frais de gestion et de fonctionnement (*) Commissions de surperformance Autres frais Catégorie de classe CLASSIC C (Devise: EUR) Frais de gestion et de fonctionnement (*) Commissions de surperformance Autres frais Rétrocessions de frais de gestion (toutes parts confondues) | 2,034.93 | 0.11 |
| 2.51 | - |
| - | - |
| 4.30 | 0.05 |
| - | - |
| - | - |
| 522,163.74 | 0.06 |
| 142,468.15 | - |
| - | - |
| 7,290.91 | 0.11 |
| 0.22 | - |
| - | - |
| 28,284.13 | 0.04 |
| - | - |
| - | - |
| 34,848.62 | 0.11 |
| 44.85 | - |
| - | - |
| 641,847.40 | 0.11 |
| 492.50 | - |
| - | - |
| - |  |

(*) Pour les OPC dont la durée d'exercice n'est pas égale à 12 mois, le pourcentage de l'actif net moyen correspond au taux moyen annualisé.
Ventilation par nature des créances et dettes
|  | Exercice 31/03/2020 |
| --- | --- |
| Ventilation par nature des créances | - |
| Déposit euros | 104,518.90 |
| Déposit autres devises | - |
| Collatéraux espèces | 770,000.00 |
| Valorisation des achats de devises à terme | 8,920.45 |
| Contrevaleur des ventes à terme | - |
| Autres débiteurs divers | 11.76 |
| Coupons à recevoir | - |
| TOTAL DES CREANCES | 883,451.11 |
| Ventilation par nature des dettes | - |
| Déposit euros | - |
| Déposit autres devises | - |
| Collatéraux espèces | 260,000.00 |
| Provision charges d'emprunts | - |
| Valorisation des ventes de devises à terme | - |
| Contrevaleur des achats à terme | 8,707.85 |
| Frais et charges non encore payés | 263,107.41 |
| Autres créditeurs divers | 30,608,251.75 |
| Provision pour risque des liquidités de marché | - |
| TOTAL DES DETTES | 31,140,067.01 |

Ventilation par nature juridique ou économique d'instrument
|  | Exercice 31/03/2020 |
| --- | --- |
| Actif Obligations et valeurs assimilées Obligations indexées Obligations convertibles Titres participatifs Autres obligations et valeurs assimilées Titres de créances Négociés sur un marché réglementé ou assimilé Bons du Trésor Autres TCN Autres Titres de Créances Non négociés sur un marché réglementé ou assimilé Passif Opérations de cession sur instruments financiers Actions Obligations Autres Hors-bilan Opérations de couverture Taux Actions Autres Autres opérations Taux Actions Autres | 344,149,735.04 - 51,431,457.48 - 292,718,277.56 971,133,129.72 971,133,129.72 - 139,841,284.99 831,291,844.73 - - - - - - - - 933,657,000.00 - - |

Ventilation par nature de taux des postes d'actif, de passif et de hors-bilan
|  | Taux fixe | Taux variable | Taux révisable | Autres |
| --- | --- | --- | --- | --- |
| Actif |  |  |  |  |
| Dépôts | - | - | - | - |
| Obligations et valeurs assimilées | 311,450,630.03 | - | 32,699,105.01 | - |
| Titres de créances | 901,558,062.88 | - | 69,575,066.84 | - |
| Opérations temporaires sur titres | - | - | - | - |
| Comptes financiers | - | - | - | 55,453,144.34 |
| Passif |  |  |  |  |
| Opérations temporaires sur titres | - | - | - | - |
| Comptes financiers | - | - | - | - |
| Hors-bilan |  |  |  |  |
| Opérations de couverture | - | - | - | - |
| Autres opérations | 933,657,000.00 | - | - | - |

Ventilation par maturité résiduelle des postes d'actif, de passif et de hors-bilan
|  | [0 - 3 mois] | ]3 mois - 1 an] | ]1 - 3 ans] | ]3 - 5 ans] | > 5 ans |
| --- | --- | --- | --- | --- | --- |
| Actif |  |  |  |  |  |
| Dépôts | - | - | - | - | - |
| Obligations et valeurs assimilées | 34,256,579.61 | 91,438,539.38 | 218,454,616.05 | - | - |
| Titres de créances | 174,589,005.24 | 275,767,946.19 | 520,776,178.29 | - | - |
| Opérations temporaires sur titres | - | - | - | - | - |
| Comptes financiers | 55,453,144.34 | - | - | - | - |
| Passif |  |  |  |  |  |
| Opérations temporaires sur titres Comptes financiers | - - | - - | - - | - - | - - |
| Hors-bilan |  |  |  |  |  |
| Opérations de couverture Autres opérations | - 100,000,000.00 | - 250,000,000.00 | - 583,657,000.00 | - - | - - |

Ventilation par devise de cotation des postes d´actif, de passif et de hors-bilan
|  | USD |
| --- | --- |
| Actif |  |
| Dépôts | - |
| Actions et valeurs assimilées | - |
| Obligations et valeurs assimilées | - |
| Titres de créances | - |
| Titres d'OPC | - |
| Opérations temporaires sur titres | - |
| Autres instruments financiers | - |
| Créances | 8,920.45 |
| Comptes financiers | - |
| Passif |  |
| Opérations de cession sur instruments financiers | - |
| Dettes | - |
| Opérations temporaires sur titres | - |
| Comptes financiers | - |
| Hors-bilan |  |
| Opérations de couverture | - |
| Autres opérations | - |

Seules les cinq devises dont le montant le plus représentatif composant l'actif net sont incluses dans ce tableau.
Affectation des résultats
Catégorie de classe Mandat (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 19,365.53 | 57,349.34 |
| Total | 19,365.53 | 57,349.34 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 19,365.53 | 57,349.34 |
| Total | 19,365.53 | 57,349.34 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -22,936.14 | -23,635.94 |
| Acomptes versés sur plus et moins-values nettes de l´exercice | - | - |
| Total | -22,936.14 | -23,635.94 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -22,936.14 | -23,635.94 |
| Total | -22,936.14 | -23,635.94 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe CLASSIC D (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | 177.84 | 171.61 |
| Résultat | 141,671.82 | 176,372.09 |
| Total | 141,849.66 | 176,543.70 |
| Affectation |  |  |
| Distribution | 141,820.41 | 176,516.53 |
| Report à nouveau de l'exercice | 29.25 | 27.17 |
| Capitalisation | - | - |
| Total | 141,849.66 | 176,543.70 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | 50,290.926 | 56,215.456 |
| Distribution unitaire | 2.82 | 3.14 |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -167,502.77 | -72,763.71 |
| Acomptes versés sur plus et moins-values nettes de l´exercice | - | - |
| Total | -167,502.77 | -72,763.71 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -167,502.77 | -72,763.71 |
| Total | -167,502.77 | -72,763.71 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe X (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 1,045,723.44 | 1,057,176.94 |
| Total | 1,045,723.44 | 1,057,176.94 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 1,045,723.44 | 1,057,176.94 |
| Total | 1,045,723.44 | 1,057,176.94 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -1,176,793.02 | -416,160.90 |
| Acomptes versés sur plus et moins-values nettes de l´exercice | - | - |
| Total | -1,176,793.02 | -416,160.90 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -1,176,793.02 | -416,160.90 |
| Total | -1,176,793.02 | -416,160.90 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe I H (Devise: USD)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 149.51 | 85.61 |
| Total | 149.51 | 85.61 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 149.51 | 85.61 |
| Total | 149.51 | 85.61 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | 176.32 | 322.81 |
| Acomptes versés sur plus et moins-values nettes de l´exercice | - | - |
| Total | 176.32 | 322.81 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | 176.32 | 322.81 |
| Total | 176.32 | 322.81 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe Privilege (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 338,120.75 | 872,627.93 |
| Total | 338,120.75 | 872,627.93 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 338,120.75 | 872,627.93 |
| Total | 338,120.75 | 872,627.93 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -400,420.23 | -359,644.29 |
| Acomptes versés sur plus et moins-values nettes de l´exercice | - | - |
| Total | -400,420.23 | -359,644.29 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -400,420.23 | -359,644.29 |
| Total | -400,420.23 | -359,644.29 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe CLASSIC C (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 7,861,531.35 | 9,446,237.43 |
| Total | 7,861,531.35 | 9,446,237.43 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 7,861,531.35 | 9,446,237.43 |
| Total | 7,861,531.35 | 9,446,237.43 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -9,308,303.08 | -3,893,166.15 |
| Acomptes versés sur plus et moins-values nettes de l´exercice | - | - |
| Total | -9,308,303.08 | -3,893,166.15 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -9,308,303.08 | -3,893,166.15 |
| Total | -9,308,303.08 | -3,893,166.15 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe R (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 35,760.44 | 51,026.04 |
| Total | 35,760.44 | 51,026.04 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 35,760.44 | 51,026.04 |
| Total | 35,760.44 | 51,026.04 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -42,340.41 | -21,029.96 |
| Acomptes versés sur plus et moins-values nettes de l´exercice | - | - |
| Total | -42,340.41 | -21,029.96 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -42,340.41 | -21,029.96 |
| Total | -42,340.41 | -21,029.96 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Catégorie de classe I (Devise: EUR)
Tableau d'affectation des sommes distribuables afférentes au résultat
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Report à nouveau | - | - |
| Résultat | 12,115,599.49 | 7,686,104.04 |
| Total | 12,115,599.49 | 7,686,104.04 |
| Affectation |  |  |
| Distribution | - | - |
| Report à nouveau de l'exercice | - | - |
| Capitalisation | 12,115,599.49 | 7,686,104.04 |
| Total | 12,115,599.49 | 7,686,104.04 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |
| Crédits d'impôt et avoirs fiscaux attachés à la distribution du résultat |  |  |
| Montant global des crédits d'impôt et avoirs fiscaux |  |  |
| provenant de l'exercice | - | - |
| provenant de l'exercice N-1 | - | - |
| provenant de l'exercice N-2 | - | - |
| provenant de l'exercice N-3 | - | - |
| provenant de l'exercice N-4 | - | - |

Tableau d'affectation des sommes distribuables afférentes aux plus et moins-values nettes
|  | Exercice 31/03/2020 | Exercice 29/03/2019 |
| --- | --- | --- |
| Sommes restant à affecter |  |  |
| Plus et moins-values nettes antérieures non distribuées | - | - |
| Plus et moins-values nettes de l'exercice | -14,119,341.64 | -3,059,971.41 |
| Acomptes versés sur plus et moins-values nettes de l´exercice | - | - |
| Total | -14,119,341.64 | -3,059,971.41 |
| Affectation |  |  |
| Distribution | - | - |
| Plus et moins-values nettes non distribuées | - | - |
| Capitalisation | -14,119,341.64 | -3,059,971.41 |
| Total | -14,119,341.64 | -3,059,971.41 |
| Information relative aux titres ouvrant droit à distribution |  |  |
| Nombre de titres | - | - |
| Distribution unitaire | - | - |

Tableau des résultats et autres éléments caractéristiques au cours des cinq derniers exercices

###### Catégorie de classe X (Devise: EUR)
| 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 1,006.6247 | 1,006.6694 | 1,004.7666 | 1,004.4461 | 989.8349 |
| Actif net (en k EUR) | 352,949.26 | 299,910.31 | 36,457.89 | 64,833.75 | 69,316.98 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 350,626.461 | 297,923.359 | 36,284.936 | 64,546.772 | 70,028.829 |

| Date de mise en paiement | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins-values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et |  |  |  |  |  |
| moins-values nettes |  |  |  |  |  |
| Parts C | 1.21 | 0.48 | -2.46 | -6.44 | -16.80 |
| Capitalisation unitaire sur résultat |  |  |  |  |  |
| Parts C | 0.18 | -0.26 | 5.86 | 16.37 | 14.93 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe Mandat (Devise: EUR)
| 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 1,003.3010 | 1,002.7323 | 1,000.0939 | 999.0432 | 983.7812 |
| Actif net (en k EUR) | 33,752.00 | 29,691.10 | 4,755.41 | 3,680.95 | 1,350.57 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 33,640.951 | 29,610.198 | 4,754.968 | 3,684.474 | 1,372.840 |

| Date de mise en paiement | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins-values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et |  |  |  |  |  |
| moins-values nettes |  |  |  |  |  |
| Parts C | 1.21 | 0.48 | -2.45 | -6.41 | -16.70 |
| Capitalisation unitaire sur résultat |  |  |  |  |  |
| Parts C | -0.12 | -0.88 | 5.08 | 15.56 | 14.10 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe Privilege (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |
| Parts C | 231.8889 | 231.6452 | 228.1068 |
| Actif net (en k EUR) | 59,434.25 | 56,009.05 | 23,578.30 |
| Nombre de titres |  |  |  |
| Parts C | 256,304.903 | 241,788.075 | 103,365.189 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- |
| Distribution unitaire sur plus et moins-values nettes | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |
| Distribution unitaire sur résultat | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - |
| personnes physiques (en EUR) |  |  |  |
| Capitalisation unitaire sur plus et |  |  |  |
| moins-values nettes |  |  |  |
| Parts C | -0.22 | -1.48 | -3.87 |
| Capitalisation unitaire sur résultat |  |  |  |
| Parts C | 0.52 | 3.60 | 3.27 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe R (Devise: EUR)
| 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 203.5003 | 203.3849 | 202.8506 | 202.6376 | 199.5426 |
| Actif net (en k EUR) | 48,215.75 | 39,657.86 | 3,072.89 | 3,275.08 | 2,493.18 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 236,932.062 | 194,989.202 | 15,148.532 | 16,162.236 | 12,494.455 |

| Date de mise en paiement | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins-values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et |  |  |  |  |  |
| moins-values nettes |  |  |  |  |  |
| Parts C | 0.24 | 0.09 | -0.49 | -1.30 | -3.38 |
| Capitalisation unitaire sur résultat |  |  |  |  |  |
| Parts C | -0.01 | -0.17 | 1.03 | 3.15 | 2.86 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe I (Devise: EUR)
| 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |
| Parts C | 99,893.4890 | 99,843.3470 | 98,340.8190 |
| Actif net (en k EUR) | 479,220.13 | 476,670.81 | 831,526.89 |
| Nombre de titres |  |  |  |
| Parts C | 4,797.311 | 4,774.187 | 8,455.562 |

| Date de mise en paiement | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- |
| Distribution unitaire sur plus et moins-values nettes | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |
| Distribution unitaire sur résultat | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - |
| personnes physiques (en EUR) |  |  |  |
| Capitalisation unitaire sur plus et |  |  |  |
| moins-values nettes |  |  |  |
| Parts C | -212.41 | -640.94 | -1,669.82 |
| Capitalisation unitaire sur résultat |  |  |  |
| Parts C | 581.39 | 1,609.92 | 1,432.85 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe CLASSIC C (Devise: EUR)
| 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts C | 232.6452 | 232.5134 | 231.9006 | 231.6570 | 228.1190 |
| Actif net (en k EUR) | 1,531.77 | 1,614.59 | 816,371.01 | 606,300.66 | 548,110.30 |
| Nombre de titres |  |  |  |  |  |
| Parts C | 6,584,135.911 | 6,944,085.586 | 3,520,348.395 | 2,617,234.530 | 2,402,738.697 |

| Date de mise en paiement | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins-values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et |  |  |  |  |  |
| moins-values nettes |  |  |  |  |  |
| Parts C | 0.28 | 0.11 | -0.56 | -1.48 | -3.87 |
| Capitalisation unitaire sur résultat |  |  |  |  |  |
| Parts C | -0.02 | -0.20 | 1.17 | 1.36 | 3.27 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe CLASSIC D (Devise: EUR)
| 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- |
| Valeur liquidative (en EUR) |  |  |  |  |  |
| Parts D | 203.1468 | 203.0317 | 202.4993 | 201.2547 | 195.0926 |
| Actif net (en k EUR) | 24.17 | 21.96 | 12,525.10 | 11,313.62 | 9,811.39 |
| Nombre de titres |  |  |  |  |  |
| Parts D | 118,969.856 | 108,170.076 | 61,852.571 | 56,215.456 | 50,290.926 |

| Date de mise en paiement | 31/03/2016 | 31/03/2017 | 29/03/2018 | 29/03/2019 | 31/03/2020 |
| --- | --- | --- | --- | --- | --- |
| Distribution unitaire sur plus et moins-values nettes | - | - | - | - | - |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Distribution unitaire sur résultat | - | - | 1.03 | 3.14 | 2.82 |
| (y compris les acomptes) (en EUR) |  |  |  |  |  |
| Crédit d'impôt unitaire (*) | - | - | - | - | - |
| personnes physiques (en EUR) |  |  |  |  |  |
| Capitalisation unitaire sur plus et |  |  |  |  |  |
| moins-values nettes |  |  |  |  |  |
| Parts D | 0.24 | 0.09 | -0.49 | -1.29 | -3.33 |
| Capitalisation unitaire sur résultat |  |  |  |  |  |
| Parts D | -0.02 | -0.17 | - | - | - |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."

###### Catégorie de classe I H (Devise: USD)
| 29/03/2019 | 31/03/2020 |
| --- | --- |
| Valeur liquidative (en USD) |  |  |
| Parts C | 101,809.1586 | 103,074.5284 |
| Actif net (en k EUR) | 9.07 | 9.42 |
| Nombre de titres |  |  |
| Parts C | 0.100 | 0.100 |

| Date de mise en paiement | 29/03/2019 | 31/03/2020 |
| --- | --- | --- |
| Distribution unitaire sur plus et moins-values nettes | - | - |
| (y compris les acomptes) (en USD) |  |  |
| Distribution unitaire sur résultat | - | - |
| (y compris les acomptes) (en USD) |  |  |
| Crédit d'impôt unitaire (*) | - | - |
| personnes physiques (en USD) |  |  |
| Capitalisation unitaire sur plus et |  |  |
| moins-values nettes |  |  |
| Parts C | 3,228.10 | 1,763.20 |
| Capitalisation unitaire sur résultat |  |  |
| Parts C | 856.10 | 1,495.10 |

(*) "Le crédit d'impôt unitaire est déterminé à la date du paiement en application de l'instruction fiscale du 04/03/93 (Ints.4 K-1-93). Les montants théoriques, calculés selon les règles applicables aux personnes physiques, sont ici présentés à titre indicatif. "L'instruction 4 J-2-99 du 08/11/99 précise par ailleurs que les bénéficiaires d'avoir fiscal autres que les personnes physiques calculent sous leur responsabilité le montant des avoirs fiscaux auxquels ils ont droit."
Inventaire des instruments financiers au 31 Mars 2020

###### Eléments d'actifs et libellé des valeurs
Obligations et valeurs assimilées
Négociées sur un marché réglementé ou assimilé
Quantité
Cours
Devise Cotation
| ACCOR 2.625% 14-05/02/2021 | 5,500,000.00 | 98.60 |
| --- | --- | --- |
| AMERICA MOVIL SA 0% 15-28/05/2020 CV | 20,500,000.00 | 99.04 |
| ARKEMA 3.85% 12-30/04/2020 | 2,800,000.00 | 100.18 |
| ATOS SE 0.75% 18-07/05/2022 | 13,600,000.00 | 99.78 |
| AT&T INC 1.45% 14-01/06/2022 | 3,000,000.00 | 100.79 |
| BANCO BILBAO VIZ 1% 16-20/01/2021 | 10,000,000.00 | 100.24 |
| CAPGEMINI SA 0.5% 16-09/11/2021 | 1,200,000.00 | 99.33 |
| CNP ASSURANCES 1.875% 16-20/10/2022 | 14,800,000.00 | 100.06 |
| COMUNIDAD MADRID 0.727% 16-19/05/2021 | 18,382,000.00 | 100.73 |
| CRED AGRICOLE SA 4.5% 10-30/06/2020 | 7,050,000.00 | 101.08 |
| DASSAULT SYSTEME 0% 19-16/09/2022 | 6,500,000.00 | 98.04 |
| FONCIERE REGIONS 3.3% 13-30/04/2020 | 3,800,000.00 | 100.20 |
| GEN ELECTRIC CO 0.375% 17-17/05/2022 | 15,000,000.00 | 95.44 |
| GLAXOSMITHKLINE 0% 17-12/09/2020 | 6,200,000.00 | 99.87 |
| HAMMERSON PLC 2% 14-01/07/2022 | 17,000,000.00 | 96.78 |
| IBM CORP 0.5% 16-07/09/2021 | 11,000,000.00 | 99.75 |
| ICADE 1.875% 15-14/09/2022 | 6,600,000.00 | 102.40 |
| ITALY BTPS 0.9% 17-01/08/2022 | 20,000,000.00 | 100.97 |
| ITALY BTPS 1% 19-15/07/2022 | 15,000,000.00 | 101.17 |
| ITALY BTPS 1.45% 15-15/09/2022 | 10,000,000.00 | 102.29 |
| ITALY BTPS 5.5% 12-01/11/2022 | 7,000,000.00 | 112.65 |
| ITALY CCTS EU 15-15/06/2022 FRN | 12,900,000.00 | 99.05 |
| ITALY CCTS EU 15-15/12/2022 FRN | 5,000,000.00 | 99.69 |
| JOHNSON CONTROLS 0% 17-04/12/2020 | 11,059,000.00 | 99.65 |
| LA BANQUE POSTAL 4.375% 10-30/11/2020 | 15,300,000.00 | 101.51 |
| MYLAN NV 1.25% 16-23/11/2020 | 8,000,000.00 | 100.28 |
| PRINCIPALITY OF 0.081% 19-30/04/2022 | 4,000,000.00 | 99.34 |
| SCANIA CV AB 18-17/03/2021 FRN | 15,000,000.00 | 99.49 |
| TAKEDA PHARMACEU 0.375% 18-21/11/2020 | 17,000,000.00 | 99.64 |
| TELFONICA DEUTSC 2.375% 14-10/02/2021 | 3,000,000.00 | 101.06 |
| UNIBAIL-RODAMCO 0% 14-01/07/2021 CV | 32,000.00 | 282.19 |
| UNIBAIL-RODAMCO 0% 15-01/01/2022 CV | 65,460.00 | 337.59 |
| 3M CO 1.875% 13-15/11/2021 | 5,000,000.00 | 101.50 |

EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

###### Valeur actuelle
344,149,735.04
344,149,735.04
5,444,810.10
20,302,995.00
2,903,973.97
13,662,326.59
3,059,896.85
10,043,301.91
1,194,336.66
14,932,177.47
18,632,235.89
7,126,908.33
6,372,468.05
3,922,702.31
14,364,977.14
6,191,652.32
16,706,899.22
11,003,483.78
6,825,684.84
20,222,176.00
15,207,118.68
10,235,404.00
8,045,351.30
12,784,921.68
4,990,060.00
11,020,835.39
15,754,002.00
8,057,348.30
3,976,787.21
14,924,123.33
16,960,883.22
3,041,582.81
9,029,952.00
22,098,510.48
5,109,848.21

###### % arrondi de l'actif net
23.16
23.16
0.37
1.37
0.20
0.92
0.21
0.68
0.08
1.00
1.25
0.48
0.43
0.26
0.97
0.42
1.12
0.74
0.46
1.36
1.02
0.69
0.54
0.86
0.34
0.74
1.06
0.54
0.27
1.00
1.14
0.20
0.61
1.49
0.34
| Titres de créances |  |  |  | 971,133,129.72 | 65.34 |
| --- | --- | --- | --- | --- | --- |
| Négociés sur un marché réglementé ou assimilé |  |  |  | 971,133,129.72 | 65.34 |
| Titres de Créances Négociables |  |  |  | 139,841,284.99 | 9.41 |
| ACCOR SA 0% 05/06/2020 NEUCP | 20,000,000.00 | 100.05 | EUR | 20,009,633.60 | 1.35 |
| AUCHAN HOLDING 0% 26/05/2020 NEUCP | 20,000,000.00 | 100.04 | EUR | 20,008,117.00 | 1.35 |
| BARRY CALLEBAUT SERVICES NV 0% 02/04/202 | 21,000,000.00 | 100.00 | EUR | 21,000,321.72 | 1.40 |
| EANDIS CVBA 0% 27/04/2020 | 20,000,000.00 | 100.02 | EUR | 20,003,861.00 | 1.35 |
| FLUVIUS SYSTEM OPERATOR 0% 30/04/2020 | 10,000,000.00 | 100.02 | EUR | 10,002,101.20 | 0.67 |
| GENERAL ELECTRIC CO 0% 05/06/2020 | 10,000,000.00 | 100.06 | EUR | 10,006,204.90 | 0.67 |
| HEIDELBERGCEMENT AG 0% 08/06/2020 | 18,800,000.00 | 100.05 | EUR | 18,809,481.97 | 1.27 |
| MERCIALYS 0% 08/04/2020 NEUCP | 20,000,000.00 | 100.01 | EUR | 20,001,563.60 | 1.35 |
| Autres Titres de Créances |  |  |  | 831,291,844.73 | 55.93 |
| ABBEY NATL TREAS 0.875% 15-25/11/2020 | 2,690,000.00 | 100.19 | EUR | 2,703,227.54 | 0.18 |
| ABBEY NATL TREAS 2.625% 13-16/07/2020 | 2,440,000.00 | 100.66 | EUR | 2,501,328.23 | 0.17 |
| ABN AMRO BANK NV 6.375% 11-27/04/2021 | 16,763,000.00 | 103.14 | EUR | 18,278,355.61 | 1.24 |
| ACHMEA BV 2.5% 13-19/11/2020 | 3,251,000.00 | 101.01 | EUR | 3,313,241.70 | 0.22 |
| AMADEUS CAP MKT 0.125% 16-06/10/2020 | 6,700,000.00 | 99.33 | EUR | 6,659,168.91 | 0.45 |
| ASTRAZENECA PLC 0.25% 16-12/05/2021 | 12,000,000.00 | 98.74 | EUR | 11,875,701.78 | 0.80 |
| ASTRAZENECA PLC 0.875% 14-24/11/2021 | 1,000,000.00 | 99.51 | EUR | 998,114.91 | 0.07 |
| AUCHAN SA 0.625% 17-07/02/2022 | 1,700,000.00 | 97.87 | EUR | 1,665,327.91 | 0.11 |
| AUCHAN SA 1.75% 14-23/04/2021 | 10,200,000.00 | 100.51 | EUR | 10,418,810.13 | 0.70 |
| BANCO BILBAO VIZ 0.75% 17-11/09/2022 | 16,300,000.00 | 97.02 | EUR | 15,881,226.01 | 1.07 |
| BANQ FED CRD MUT 0.125% 18-30/08/2021 | 8,400,000.00 | 98.93 | EUR | 8,316,329.06 | 0.56 |
| BANQ FED CRD MUT 4% 10-22/10/2020 | 9,800,000.00 | 101.53 | EUR | 10,122,100.80 | 0.68 |
| BARCLAYS PLC 1.5% 14-01/04/2022 | 10,455,000.00 | 98.04 | EUR | 10,406,279.88 | 0.70 |
| BARCLAYS PLC 1.875% 16-23/03/2021 | 10,000,000.00 | 99.89 | EUR | 9,993,026.59 | 0.67 |
| BMW FINANCE NV 0.125% 18-29/11/2021 | 10,000,000.00 | 97.57 | EUR | 9,760,709.82 | 0.66 |
| BMW FINANCE NV 0.875% 15-17/11/2020 | 1,500,000.00 | 99.83 | EUR | 1,502,279.49 | 0.10 |
| BNP PARIBAS 0.5% 16-01/06/2022 | 10,000,000.00 | 98.84 | EUR | 9,925,999.28 | 0.67 |
| BPCE 17-09/03/2022 | 12,100,000.00 | 97.76 | EUR | 11,833,303.36 | 0.80 |
| BRITISH TELECOMM 0.625% 16-10/03/2021 | 15,000,000.00 | 99.51 | EUR | 14,931,176.84 | 1.00 |
| CAIXABANK 1.125% 17-12/01/2023 | 15,000,000.00 | 96.24 | EUR | 14,472,505.18 | 0.97 |
| CASS RISP PARMA 0.875% 14-31/01/2022 | 10,000,000.00 | 101.37 | EUR | 10,151,015.26 | 0.68 |
| CNH IND FIN 1.375% 17-23/05/2022 | 8,500,000.00 | 99.74 | EUR | 8,578,075.73 | 0.58 |
| COMMERZBANK AG 4% 10-16/09/2020 | 10,000,000.00 | 101.16 | EUR | 10,331,569.55 | 0.70 |
| COMMERZBANK AG 7.75% 11-16/03/2021 | 12,400,000.00 | 101.31 | EUR | 12,602,114.19 | 0.85 |
| CONTINENTAL AG 3.125% 13-09/09/2020 | 9,892,000.00 | 101.03 | EUR | 10,166,491.45 | 0.68 |
| CPI PROPERTY GRO 1.45% 18-14/04/2022 | 15,000,000.00 | 99.09 | EUR | 15,073,242.83 | 1.01 |
| CRED AGRICOLE SA 3.9% 10-19/04/2021 | 10,000,000.00 | 101.75 | EUR | 10,544,614.10 | 0.71 |
| CRED SUIS GP FUN 1.25% 15-14/04/2022 | 13,000,000.00 | 97.69 | EUR | 12,856,508.05 | 0.87 |

| CRH FINLAND SERV 2.75% 13-15/10/2020 | 6,628,000.00 | 100.55 | EUR | 6,748,318.42 | 0.45 |
| --- | --- | --- | --- | --- | --- |
| DANONE 0.167% 16-03/11/2020 | 2,600,000.00 | 99.86 | EUR | 2,598,014.28 | 0.17 |
| DS SMITH PLC 2.25% 15-16/09/2022 | 13,000,000.00 | 101.98 | EUR | 13,415,271.42 | 0.90 |
| EANDIS 4.5% 11-08/11/2021 | 3,000,000.00 | 105.98 | EUR | 3,232,626.35 | 0.22 |
| ELEC DE FRANCE 2.25% 13-27/04/2021 | 4,000,000.00 | 101.47 | EUR | 4,142,110.26 | 0.28 |
| ELSEVIER FINANCE 2.5% 12-24/09/2020 | 1,900,000.00 | 100.94 | EUR | 1,942,384.13 | 0.13 |
| ENI SPA 4% 10-29/06/2020 | 10,000,000.00 | 100.81 | EUR | 10,382,928.34 | 0.70 |
| FCA CAPITAL IRE 1.375% 15-17/04/2020 | 15,000,000.00 | 99.97 | EUR | 15,192,410.08 | 1.02 |
| FERROV DEL STATO 4% 13-22/07/2020 | 5,900,000.00 | 100.67 | EUR | 6,102,897.30 | 0.41 |
| GE CAP EUR FUND 0.8% 15-21/01/2022 | 2,500,000.00 | 97.79 | EUR | 2,448,450.14 | 0.16 |
| GE CAP EUR FUND 2.25% 13-20/07/2020 | 7,400,000.00 | 99.83 | EUR | 7,503,683.10 | 0.50 |
| GEN MOTORS FIN 0.2% 19-02/09/2022 | 4,626,000.00 | 85.55 | EUR | 3,963,081.43 | 0.27 |
| GLAXOSMITHKLINE 0.000001% 19-23/09/2021 | 6,000,000.00 | 99.12 | EUR | 5,947,103.40 | 0.40 |
| HEIDELCEMENT FIN 0.5% 17-18/01/2021 | 3,000,000.00 | 99.59 | EUR | 2,990,590.10 | 0.20 |
| HEINEKEN NV 2.125% 12-04/08/2020 | 14,400,000.00 | 100.55 | EUR | 14,679,618.14 | 0.99 |
| HSBC FRANCE 0.2% 18-04/09/2021 | 13,000,000.00 | 98.73 | EUR | 12,849,142.49 | 0.86 |
| IBERDROLA INTL 3.5% 13-01/02/2021 | 3,800,000.00 | 102.46 | EUR | 3,914,732.93 | 0.26 |
| INBEV NV 4% 11-02/06/2021 | 15,000,000.00 | 103.38 | EUR | 16,004,150.31 | 1.08 |
| ING BANK NV 0% 19-08/04/2022 | 5,300,000.00 | 97.70 | EUR | 5,178,319.95 | 0.35 |
| ING BANK NV 0.375% 18-26/11/2021 | 12,400,000.00 | 98.94 | EUR | 12,284,511.16 | 0.83 |
| INTESA SANPAOLO 2% 14-18/06/2021 | 17,000,000.00 | 100.09 | EUR | 17,282,738.22 | 1.16 |
| KLEPIERRE 4.75% 11-14/03/2021 | 15,000,000.00 | 103.88 | EUR | 15,617,198.49 | 1.05 |
| KPN NV 3.75% 10-21/09/2020 | 3,200,000.00 | 101.55 | EUR | 3,312,484.90 | 0.22 |
| LEASEPLAN CORP 0.75% 17-03/10/2022 | 11,300,000.00 | 97.61 | EUR | 11,072,020.52 | 0.74 |
| LEASEPLAN CORP 1% 16-08/04/2020 | 5,000,000.00 | 100.00 | EUR | 5,048,899.10 | 0.34 |
| LEASEPLAN CORP 1% 19-25/02/2022 | 8,335,000.00 | 98.49 | EUR | 8,216,827.07 | 0.55 |
| LLOYDS BANK 0.25% 19-04/10/2022 | 5,000,000.00 | 96.31 | EUR | 4,821,481.89 | 0.32 |
| LOGICOR FIN 0.5% 19-30/04/2021 | 8,371,000.00 | 99.23 | EUR | 8,344,362.16 | 0.56 |
| LOGICOR FIN 1.5% 18-14/11/2022 | 1,500,000.00 | 100.69 | EUR | 1,518,870.06 | 0.10 |
| MORGAN STANLEY 5.375% 10-10/08/2020 | 15,000,000.00 | 101.40 | EUR | 15,725,820.81 | 1.06 |
| NATIONWIDE BLDG 6.75% 10-22/07/2020 | 15,675,000.00 | 100.73 | EUR | 16,521,278.14 | 1.11 |
| NORDEA BANK AB 4% 10-29/03/2021 | 7,000,000.00 | 102.13 | EUR | 7,150,837.95 | 0.48 |
| PACCAR FINANCIAL 0.125% 19-07/03/2022 | 927,000.00 | 97.90 | EUR | 907,605.57 | 0.06 |
| PSA BANQUE FRANC 0.625% 17-10/10/2022 | 3,600,000.00 | 96.22 | EUR | 3,474,638.05 | 0.23 |
| RABOBANK 3.75% 10-09/11/2020 | 15,000,000.00 | 101.24 | EUR | 15,405,387.59 | 1.04 |
| RCI BANQUE 0.75% 17-12/01/2022 | 13,381,000.00 | 96.21 | EUR | 12,896,023.75 | 0.87 |
| RCI BANQUE 17-14/03/2022 | 3,305,000.00 | 96.83 | EUR | 3,200,359.46 | 0.22 |
| ROLLS-ROYCE PLC 2.125% 13-18/06/2021 | 4,600,000.00 | 100.47 | EUR | 4,698,428.74 | 0.32 |
| ROYAL BK SCOTLND 0.625% 18-02/03/2022 | 21,067,000.00 | 97.71 | EUR | 20,595,524.23 | 1.40 |
| RWE FINANCE BV 6.5% 09-10/08/2021 | 6,539,000.00 | 108.09 | EUR | 7,339,914.88 | 0.49 |

| SANTANDER INTL 1.375% 16-03/03/2021 | 7,100,000.00 | 100.21 | EUR | 7,122,717.83 | 0.48 |
| --- | --- | --- | --- | --- | --- |
| SANTANDER UK PLC 18-14/08/2020 FRN | 20,000,000.00 | 99.76 | EUR | 19,952,600.00 | 1.35 |
| SCANIA CV AB 18-19/10/2020 FRN | 6,858,000.00 | 99.76 | EUR | 6,841,957.81 | 0.46 |
| SCHAEFFLER AG 1.125% 19-26/03/2022 | 13,925,000.00 | 91.56 | EUR | 12,751,811.93 | 0.86 |
| SCHNEIDER ELEC 2.5% 13-06/09/2021 | 2,200,000.00 | 102.65 | EUR | 2,289,355.08 | 0.15 |
| SCHNEIDER ELEC 3.625% 10-20/07/2020 | 1,050,000.00 | 101.01 | EUR | 1,087,170.26 | 0.07 |
| SIAS 4.5% 10-26/10/2020 | 10,000,000.00 | 102.22 | EUR | 10,415,072.79 | 0.70 |
| SIEMENS FINAN 0% 19-05/09/2021 | 10,999,000.00 | 99.38 | EUR | 10,930,449.83 | 0.74 |
| SIEMENS FINAN 0% 20-20/02/2023 | 8,000,000.00 | 98.26 | EUR | 7,860,657.60 | 0.53 |
| SIEMENS FINAN 1.75% 13-12/03/2021 | 10,000,000.00 | 101.20 | EUR | 10,129,125.59 | 0.68 |
| SOCIETE GENERALE 0.5% 17-13/01/2023 | 20,000,000.00 | 95.98 | EUR | 19,217,773.48 | 1.30 |
| SOCIETE GENERALE 19-06/09/2021 FRN | 16,500,000.00 | 98.58 | EUR | 16,268,597.22 | 1.09 |
| SSE PLC 2% 13-17/06/2020 | 4,045,000.00 | 100.37 | EUR | 4,123,482.73 | 0.28 |
| STANDARD CHART 3.625% 12-23/11/2022 | 6,261,000.00 | 100.58 | EUR | 6,377,487.40 | 0.43 |
| TELEFONICA EMIS 0.318% 16-17/10/2020 | 5,000,000.00 | 99.89 | EUR | 5,001,854.98 | 0.34 |
| TENNET HLD BV 0.875% 15-04/06/2021 | 6,000,000.00 | 100.43 | EUR | 6,068,676.23 | 0.41 |
| THALES SA 0% 19-31/05/2022 | 9,400,000.00 | 97.92 | EUR | 9,204,852.24 | 0.62 |
| UNIONE DI BANCHE 0.75% 17-17/10/2022 | 3,000,000.00 | 95.29 | EUR | 2,868,889.92 | 0.19 |
| UNIONE DI BANCHE 1% 19-22/07/2022 | 10,000,000.00 | 96.45 | EUR | 9,713,839.68 | 0.65 |
| VALEO SA 0.375% 17-12/09/2022 | 8,900,000.00 | 93.17 | EUR | 8,310,795.31 | 0.56 |
| VIVENDI SA 0% 19-13/06/2022 | 1,500,000.00 | 98.23 | EUR | 1,473,438.60 | 0.10 |
| VOLKSWAGEN BANK 0.375% 19-05/07/2022 | 18,000,000.00 | 96.29 | EUR | 17,381,766.48 | 1.17 |
| WELLS FARGO CO 2.25% 13-03/09/2020 | 10,000,000.00 | 100.49 | EUR | 10,178,475.36 | 0.68 |
| WILLOW NO.2 PLC 3.375% 12-27/06/2022 | 12,849,000.00 | 104.14 | EUR | 13,709,857.89 | 0.92 |
| WPP FINANCE 2013 18-20/03/2022 FRN | 11,625,000.00 | 98.74 | EUR | 11,478,248.99 | 0.77 |
| Titres d'OPC |  |  |  | 146,074,381.61 | 9.83 |
| OPCVM et FIA à vocation générale destinés aux non professionnels et équivalents d´autres pays Etats membres de l´Union Européenne | 146,074,381.61 | 9.83 |
| BNP PARIBAS MONEY 3M-IC	6,323.00 | 23,102.08 | EUR | 146,074,381.61 | 9.83 |
| Instruments financiers à terme |  |  | -356,746.96 | -0.02 |
| Futures |  |  | 29,500.00 | - |
| EURO-SCHATZ FUTURE 08/06/2020	300.00 | 112.19 | EUR | 29,500.00 | - |
| Swaps de taux |  |  | -356,746.96 | -0.02 |
| IRS 54	- | - | EUR | -12,994.77 | - |
| IRS 60	- | - | EUR | -20,041.90 | - |
| IRS 61	- | - | EUR | -55,753.34 | - |
| IRS 62	- | - | EUR | -13,340.57 | - |
| IRS 63	- | - | EUR | -62,736.78 | - |
| IRS 64	- | - | EUR | -171,480.74 | -0.02 |
| IRS 65	- | - | EUR | -155,806.96 | -0.02 |
| IRS 66	- | - | EUR | 16,873.36 | - |

| IRS 68 IRS 69 IRS 70 IRS 72 IRS 73 IRS 75 IRS 76 Appels de marge Créances Dettes Autres comptes financiers | - - - - - - - | - - - - - - - | EUR EUR EUR EUR EUR EUR EUR | 125,201.49 | 0.01 |
| --- | --- | --- | --- | --- | --- |
| 26,413.46 | - |
| -13,823.60 | - |
| -35,949.02 | - |
| -65,026.18 | - |
| -31,929.33 | - |
| 113,647.92 | 0.01 |
| -29,500.00 | - |
| 883,451.11 | 0.06 |
| -31,140,067.01 | -2.10 |
| 55,453,144.34 | 3.73 |
| TOTAL ACTIF NET | 1,486,197,027.85 | 100.00 |