# Comgest Growth China
## SCHEDULE OF INVESTMENTS
As at 31 December 2020 (expressed in EUR)
Security
Quantity/
Face value	Currency
Acquisition cost EUR
Fair Value
EUR
% Net Assets
| JOYY Inc | 42,758 | USD | 2,934,717 | 2,794,969 | 0.87 |
| --- | --- | --- | --- | --- | --- |
|  |  |  | 2,934,717 | 2,794,969 | 0.87 |

Internet software
Total Cayman Islands	14,539,053	16,335,255	5.08
America Depository Receipts	14,539,053	16,335,255	5.08
Sponsored America Depository Receipts Cayman Islands
| Automobile industry Autohome Inc | 163,592 | USD | 11,587,673 | 13,319,468 | 4.14 |
| --- | --- | --- | --- | --- | --- |
|  |  |  | 11,587,673 | 13,319,468 | 4.14 |
| Internet software Weibo Corp | 127,370 | USD | 5,170,786 | 4,267,007 | 1.33 |
|  |  |  | 5,170,786 | 4,267,007 | 1.33 |
| Leisure Trip.com Group Ltd | 230,571 | USD | 5,454,242 | 6,356,225 | 1.97 |
|  |  |  | 5,454,242 | 6,356,225 | 1.97 |
|  |  |  |  |  |  |
| Total Cayman Islands |  |  | 22,212,701 | 23,942,700 | 7.44 |

| Sponsored America Depository Receipts | 22,212,701 | 23,942,700 | 7.44 |
| --- | --- | --- | --- |
|  |  |  |  |
| Transferable securities admitted to an official stock exchange listing | 263,134,956 | 312,241,648 | 97.01 |
|  |  |  |  |
| Financial assets at fair value through profit or loss | 263,134,956 | 312,241,648 | 97.01 |

Cash and other net assets		9,638,645	2.99 
Total net assets attributable to holders of redeemable participating shares	 321,880,293	100.00 
% of Total Assets
Transferable securities admitted to an official stock exchange listing	96.28
| Comgest Growth India |  |
| --- | --- |
| SCHEDULE OF INVESTMENTS |
| As at 31 December 2020 (expressed in USD) |
| Security | Quantity/ Face value | Currency | Acquisition cost USD | Fair Value USD | % Net Assets |
| Financial assets at fair value through profit and loss |  |  |  |  |  |

Transferable securities admitted to an official stock exchange listing Equity securities
India
Automobile industry
| Eicher Motors Ltd | 38,078 | INR | 1,026,043 | 1,318,551 | 1.14 |
| --- | --- | --- | --- | --- | --- |
| Endurance Technologies Ltd | 183,972 | INR | 2,155,803 | 3,394,931 | 2.94 |
|  |  |  | 3,181,846 | 4,713,482 | 4.08 |
| Banks and financial institutions Bandhan Bank Ltd | 770,121 | INR | 2,881,033 | 4,239,665 | 3.67 |
| HDFC Bank Ltd | 320,487 | INR | 5,090,864 | 6,299,878 | 5.46 |
| Housing Development Finance Corp Ltd | 283,343 | INR | 6,033,078 | 9,922,015 | 8.59 |
|  |  |  | 14,004,975 | 20,461,558 | 17.72 |
| Business houses Motherson Sumi Systems Ltd | 2,359,293 | INR | 3,292,569 | 5,334,190 | 4.62 |
| PVR Ltd | 122,851 | INR | 1,826,043 | 2,219,703 | 1.92 |
|  |  |  | 5,118,612 | 7,553,893 | 6.54 |
| Chemicals Lupin Ltd | 239,217 | INR | 3,412,462 | 3,198,132 | 2.77 |
| Reliance Industries Ltd | 164,914 | INR | 4,642,048 | 4,480,848 | 3.88 |
|  |  |  | 8,054,510 | 7,678,980 | 6.65 |
| Construction and building material |  |  |  |  |  |
| Larsen & Toubro Ltd	320,088 | INR | 5,574,851 | 5,640,621 | 4.88 |
|  |  |  | 5,574,851 | 5,640,621 | 4.88 |
| Food and distilleries Varun Beverages Ltd | 405,000 | INR | 3,542,888 | 5,077,509 | 4.40 |
|  |  |  | 3,542,888 | 5,077,509 | 4.40 |
| Holding and finance companies Colgate-Palmolive India Ltd | 141,685 | INR | 1,276,551 | 3,035,178 | 2.63 |
| Shriram City Union Finance Ltd | 228,852 | INR | 4,628,936 | 3,325,943 | 2.88 |
| Shriram Transport Finance Co Ltd | 301,614 | INR | 3,796,316 | 4,319,836 | 3.74 |
|  |  |  | 9,701,803 | 10,680,957 | 9.25 |

| Comgest Growth India |  |
| --- | --- |
| SCHEDULE OF INVESTMENTS |
| As at 31 December 2020 (expressed in USD) |
| Security | Quantity/ Face value | Currency | Acquisition cost USD | Fair Value USD | % Net Assets |
| Internet software |  |  |  |  |  |
| Infosys Ltd | 323,911 | INR | 2,510,728 | 5,567,019 | 4.82 |
|  |  |  | 2,510,728 | 5,567,019 | 4.82 |
| News Transmission |  |  |  |  |  |
| Bharti Airtel Ltd | 198,158 | INR | 1,167,735 | 1,381,217 | 1.20 |
|  |  |  | 1,167,735 | 1,381,217 | 1.20 |
| Other Services |  |  |  |  |  |
| Central Depository Services India Ltd | 302,399 | INR | 1,135,359 | 2,206,305 | 1.91 |
|  |  |  | 1,135,359 | 2,206,305 | 1.91 |
| Petrol |  |  |  |  |  |
| Petronet LNG Ltd | 747,925 | INR | 1,342,297 | 2,534,459 | 2.19 |
|  |  |  | 1,342,297 | 2,534,459 | 2.19 |
| Pharmaceuticals and cosmetics |  |  |  |  |  |
| Apollo Hospitals Enterprise Ltd | 72,762 | INR | 1,450,633 | 2,402,716 | 2.08 |
| Cipla Ltd | 312,545 | INR | 1,720,438 | 3,507,329 | 3.04 |
| Max Financial Services Ltd | 431,180 | INR | 2,448,133 | 3,983,557 | 3.45 |
|  |  |  | 5,619,204 | 9,893,602 | 8.57 |
| Public services |  |  |  |  |  |
| Power Grid Corp of India Ltd | 978,061 | INR | 2,125,012 | 2,541,283 | 2.20 |
| REC Ltd | 1,643,851 | INR | 3,290,548 | 3,012,448 | 2.61 |
|  |  |  | 5,415,560 | 5,553,731 | 4.81 |
| Real estate companies |  |  |  |  |  |
| Info Edge India Ltd | 62,788 | INR | 299,030 | 4,088,543 | 3.54 |
| Oberoi Realty Ltd | 356,554 | INR | 1,947,459 | 2,846,874 | 2.47 |
|  |  |  | 2,246,489 | 6,935,417 | 6.01 |
| Transportation |  |  |  |  |  |
| Adani Ports & Special Economic Zone Ltd | 745,728 | INR | 3,784,521 | 4,937,169 | 4.28 |
|  |  |  | 3,784,521 | 4,937,169 | 4.28 |

Total India	72,401,378  100,815,919	87.31
| Comgest Growth India |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| SCHEDULE OF INVESTMENTS |  |  |  |  |  |
| As at 31 December 2020 (expressed in USD) |  |  |  |  |  |
| Security | Quantity/ Face value | Currency | Acquisition cost USD | Fair Value USD | % Net Assets |
| Japan |  |  |  |  |  |
| Automobile industry |  |  |  |  |  |
| Suzuki Motor Corp | 86,200 | JPY | 2,899,464 | 3,992,527 | 3.46 |
|  |  |  | 2,899,464 | 3,992,527 | 3.46 |
|  |  |  |  |  |  |
| Total Japan |  |  | 2,899,464 | 3,992,527 | 3.46 |
| United States of America |  |  |  |  |  |
| Internet software |  |  |  |  |  |
| Cognizant Technology Solutions Corp | 90,975 | USD | 5,816,353 | 7,455,401 | 6.46 |
|  |  |  | 5,816,353 | 7,455,401 | 6.46 |

| Total United States of America | 5,816,353 | 7,455,401 | 6.46 |
| --- | --- | --- | --- |
|  |  |  |  |
| Equity securities | 81,117,195 | 112,263,847 | 97.23 |
|  |  |  |  |
| Transferable securities admitted to an official stock exchange listing | 81,117,195 | 112,263,847 | 97.23 |
| Other transferable securities dealt on another regulated market |  |  |  |
| Equity securities |  |  |  |
| Pakistan |  |  |  |
| Automobile industry PAK Suzuki Motor Co Ltd | 868,000 | PKR | 1,449,694 | 1,314,259 | 1.14 |
|  |  |  | 1,449,694 | 1,314,259 | 1.14 |
|  |  |  |  |  |  |
| Total Pakistan |  |  | 1,449,694 | 1,314,259 | 1.14 |
|  |  |  |  |  |  |
| Equity securities |  |  | 1,449,694 | 1,314,259 | 1.14 |
|  |  |  |  |  |  |
| Other transferable securities dealt on another regulated market |  |  | 1,449,694 | 1,314,259 | 1.14 |
|  |  |  |  |  |  |
| Financial assets at fair value through profit or loss |  |  | 82,566,889 | 113,578,106 | 98.37 |

Cash and other net assets		1,885,188	1.63 
Total net assets attributable to holders of redeemable participating shares	 115,463,294	100.00

Translation (ENFR, 2020-12-31):
# Comgest Growth China
MOUVEMENTS SIGNIFICATIFS DU PORTEFEUILLE pour l’exercice clos le 31 décembre 2020
| Ventes |  |  |  |
| --- | --- | --- | --- |
| Valeur | Quantité | Montant de règlement (EUR) | % du Total Ventes |
| Shandong Weigao Group Medical Polymer Co Ltd - Actions H | 11 128 000 | 18 224 039 | 12,22 |
| Man Wah Holdings Ltd | 16 826 947 | 17 349 457 | 11,64 |
| Focus Media Information Technology Co Ltd - Actions A | 13 249 985 | 13 034 557 | 8,74 |
| Tencent Holdings Ltd | 177 800 | 10 670 649 | 7,16 |
| Catcher Technology Co Ltd | 1 527 000 | 9 245 388 | 6,20 |
| Hangzhou Hikvision Digital Technology Co Ltd - Actions A | 1 912 440 | 8 908 519 | 5,98 |
| 58.com Inc | 173 122 | 8 432 605 | 5,66 |
| Midea Group Co Ltd - Actions A | 766 100 | 6 563 387 | 4,40 |
| Zhengzhou Yutong Bus Co Ltd - Actions A | 3 660 094 | 6 515 709 | 4,37 |
| NetEase Inc | 14 813 | 5 188 453 | 3,48 |
| Dong-E-E-Jiao Co Ltd - Actions A | 1 453 379 | 5 023 386 | 3,37 |
| Taiwan Semiconductor Manufacturing Co Ltd | 365 000 | 4 805 144 | 3,22 |
| ANTA Sports Products Ltd | 560 000 | 4 474 695 | 3,00 |
| Inner Mongolia Yili Industrial Group Co Ltd - Actions A | 914 845 | 3 663 709 | 2,46 |
| Weifu High-Technology Group Co Ltd - Actions B | 2 414 256 | 3 457 737 | 2,32 |
| SAIC Motor Corp Ltd - A Shares | 850 400 | 2 972 629 | 1,99 |
| Goodbaby International Holdings Ltd | 18 356 000 | 2 379 621 | 1,60 |
| Trip.com Group Ltd | 74 762 | 2 093 184 | 1,40 |
| TravelSky Technology Ltd | 1 082 000 | 2 092 758 | 1,40 |
| AIA Group Ltd | 175 000 | 1 664 895 | 1,12 |
| Noah Holdings Ltd | 51 134 | 1 599 432 | 1,07 |
| Naspers Ltd | 9 603 | 1 595 309 | 1,07 |
| Hengan International Group Co Ltd | 225 500 | 1 583 848 | 1,06 |
| Weibo Corp | 44 804 | 1 580 861 | 1,06 |
| Ping An Insurance Group Co of China Ltd - Actions H | 139 000 | 1 493 296 | 1,00 |