# ODDO BHF
## Euro High Yield Bond

##### Financial Statements as at 31.10.2021
Statement of net assets as at 31.10.2021
Expressed in EUR
| Assets |  | 495,040,334 |
| --- | --- | --- |
| Investments at market value | Note 2b | 455,659,928 |
| Acquisition cost |  | 445,638,190 |
| Cash at bank |  | 11,249,073 |
| Margin deposits |  | 65,800 |
| Time deposits |  | 20,428,364 |
| Interest receivable |  | 5,876,480 |
| Receivable on sale of investments |  | 125,783 |
| Receivable on subscriptions |  | 1,323,042 |
| Net unrealised gain on forward currency exchange contracts | Note 2e | 1,764 |
| Unrealised gain on financial futures contracts | Note 2e | 310,100 |
| Liabilities |  | 26,826,742 |
| Bank overdrafts |  | 310,100 |
| Interest payable on swap contracts |  | 83,333 |
| Payable on purchase of investments |  | 4,398,496 |
| Repurchase agreements | Note 2f, 9 | 19,948,043 |
| Payable on redemptions |  | 149,118 |
| Unrealised loss on swaps contracts | Note 2e | 1,674,000 |
| Investment management and domiciliary, administrative and transfer agency fees payable Other liabilities |  | 243,525 20,127 |
| Net asset value |  | 468,213,592 |

Changes in number of shares outstanding from 01.11.2020 to 31.10.2021
|  | Shares outstanding as at 01.11.2020 | Shares subscribed | Shares redeemed | Shares outstanding as at 31.10.2021 |
| --- | --- | --- | --- | --- |
| I Shares EUR - Capitalisation | 1,722,341.66 | 1,594,173.38 | 1,848,818.48 | 1,467,696.56 |
| I Shares EUR - Distribution | 994,593.48 | 0.00 | 108,986.96 | 885,606.52 |
| R Shares EUR - Capitalisation | 1,684,621.81 | 446,306.35 | 529,221.14 | 1,601,707.02 |
| R Shares EUR - Distribution | 238,410.33 | 8,542.02 | 59,399.90 | 187,552.45 |
| R Shares CHF [H] - Capitalisation | 1,414.35 | 290.00 | 418.60 | 1,285.75 |
| N Shares EUR - Capitalisation | 2,808.86 | 76,633.40 | 57,316.67 | 22,125.59 |
| P Shares EUR - Capitalisation | 8,359,867.00 | 4,008,016.55 | 888,395.00 | 11,479,488.55 |
| P Shares EUR - Distribution | 20,353,029.51 | 1,316,241.14 | 6,141,381.34 | 15,527,889.31 |

Changes in number of shares outstanding from 01.11.2020 to 31.10.2021
Shares outstanding as at 01.11.2020
Shares subscribed	Shares redeemed
Shares outstanding as at 31.10.2021
P15 Shares EUR - Distribution	894,050.00	14,500.00	58,500.00	850,050.00
GC Shares EUR - Capitalisation	16,400.26	34,345.81	8,445.17	42,300.90
| Year ended as at: | 31.10.2021 | 31.10.2020 | 31.10.2019 |
| --- | --- | --- | --- |
| EUR | 468,213,592 | 461,278,611 | 622,021,492 |

Statistics
Total Net Assets
| I Shares EUR - Capitalisation Number of shares |  | 1,467,696.56 | 1,722,341.66 | 2,812,659.34 |
| --- | --- | --- | --- | --- |
| Net asset value per share | EUR | 33.18 | 30.94 | 30.92 |
| I Shares EUR - Distribution Number of shares |  | 885,606.52 | 994,593.48 | 3,288,648.48 |
| Net asset value per share | EUR | 11.24 | 10.80 | 11.13 |
| Dividend per share |  | 0.3355 | 0.3353 | 0.3895 |
| R Shares EUR - Capitalisation Number of shares |  | 1,601,707.02 | 1,684,621.81 | 2,358,087.71 |
| Net asset value per share | EUR | 28.61 | 26.88 | 27.06 |
| R Shares EUR - Distribution Number of shares |  | 187,552.45 | 238,410.33 | 415,379.77 |
| Net asset value per share | EUR | 9.81 | 9.43 | 9.71 |
| Dividend per share |  | 0.2246 | 0.2230 | 0.2689 |
| R Shares CHF [H] - Capitalisation Number of shares |  | 1,285.75 | 1,414.35 | 5,669.01 |
| Net asset value per share | CHF | 109.68 | 103.25 | 104.51 |
| N Shares EUR - Capitalisation Number of shares |  | 22,125.59 | 2,808.86 | 524.03 |
| Net asset value per share | EUR | 110.26 | 103.14 | 103.44 |
| P Shares EUR - Capitalisation Number of shares |  | 11,479,488.55 | 8,359,867.00 | 5,721,457.33 |
| Net asset value per share | EUR | 14.43 | 13.42 | 13.38 |
| P Shares EUR - Distribution Number of shares |  | 15,527,889.31 | 20,353,029.51 | 29,255,303.66 |
| Net asset value per share | EUR | 11.53 | 11.08 | 11.41 |
| Dividend per share |  | 0.3709 | 0.3712 | 0.4276 |
| P15 Shares EUR - Distribution Number of shares |  | 850,050.00 | 894,050.00 | 1,333,650.00 |
| Net asset value per share | EUR | 11.50 | 11.05 | 11.38 |
| Dividend per share |  | 0.3537 | 0.3538 | 0.4096 |
| GC Shares EUR - Capitalisation Number of shares |  | 42,300.90 | 16,400.26 | 40,396.27 |
| Net asset value per share | EUR | 115.92 | 108.13 | 108.10 |

| Quantity	Denomination	Quotation	Acquisition cost currency | Market value | % of net assets |
| --- | --- | --- |
| Transferable securities admitted to an official stock exchange listing and / or dealt in on another regulated market	 444,488,190 | 454,530,191 | 97.08 |
| Bonds	 376,600,096 | 385,479,668 | 82.33 |
| Luxembourg	 65,641,486 | 65,709,398 | 14.03 |

| 2,920,000 ALTICE FINANCING S.A 2.25 20-25 22/01S | EUR | 2,799,045 | 2,822,136 | 0.60 |
| --- | --- | --- | --- | --- |
| 1,043,000 ALTICE FINANCING S.A 4.25 21-29 12/08S | EUR | 1,043,000 | 1,023,689 | 0.22 |
| 3,460,000 ALTICE FINCO SA 4.75 17-28 15/01S | EUR | 3,360,424 | 3,284,959 | 0.70 |
| 1,443,000 ALTICE FRANCE HOLDIN 4 20-28 06/02S | EUR | 1,440,450 | 1,350,208 | 0.29 |
| 6,820,000 ALTICE FRANCE HOLDING 8.0 19-27 15/05S | EUR | 7,134,371 | 7,232,507 | 1.54 |
| 885,000 BK LC LUX FINCO 1 S. 5.25 21-29 29/04S | EUR | 886,850 | 916,493 | 0.20 |
| 1,600,000 CIDRON AIDA FINCO SA 5 21-28 01/04S | EUR | 1,605,465 | 1,578,064 | 0.34 |
| 867,999 CIRSA FIN INTL FL.R 19-25 30/09Q | EUR | 876,557 | 878,641 | 0.19 |
| 424,585 CIRSA FINANCE INT  6.2500 18-23 20/12S | EUR | 430,742 | 430,946 | 0.09 |
| 1,464,000 CIRSA FINANCE INTE  4.5 21-27 15/03A | EUR | 1,462,250 | 1,447,340 | 0.31 |
| 3,716,000 CONTOURGLOBAL POWER 2.75 20-26 17/12S | EUR | 3,716,530 | 3,694,614 | 0.79 |
| 632,000 CONTOURGLOBAL POWER 3.125 20-28 17/12S | EUR | 632,000 | 630,935 | 0.13 |
| 1,180,000 CONTOURGLOBAL POWER 4.125 18-25 26/07S | EUR | 1,236,215 | 1,199,264 | 0.26 |
| 2,190,000 CPI PROPERTY GROUP 4.875 19-XX 16/10A | EUR | 2,221,886 | 2,267,920 | 0.48 |
| 4,890,000 CRYSTAL ALMOND	4.2500 19-24 15/10S | EUR | 4,852,893 | 4,997,799 | 1.07 |
| 420,000 CULLINAN HOLDCO SCSP 4.625 21-26 15/10S | EUR | 420,000 | 423,079 | 0.09 |
| 1,100,000 FLAMINGO LUX II SCA 5.0 21-29 31/03S | EUR | 1,094,500 | 1,078,347 | 0.23 |
| 4,719,000 HSE FINANCE S.A R.L. 5.625 21-26 06/05S | EUR | 4,740,510 | 4,855,189 | 1.04 |
| 1,495,000 IDEAL STANDARD INTER 6.375 21-26 30/07S | EUR | 1,479,303 | 1,402,557 | 0.30 |
| 1,880,000 INEOS GROUP HOLDIN 5.375 16-24 01/08S | EUR | 1,875,550 | 1,882,811 | 0.40 |
| 1,767,000 INPOST S.A. 2.25 21-27 29/06S | EUR | 1,767,000 | 1,734,187 | 0.37 |
| 1,330,000 MATTERHORN TELECOM 3.1250 19-26 15/09S | EUR | 1,329,146 | 1,318,223 | 0.28 |
| 1,100,000 MATTERHORN TELECOM 4.00 17-27 15/11S | EUR | 1,143,203 | 1,117,771 | 0.24 |
| 3,325,000 PICARD BONDCO SA 5.375 21-27 07/07S | EUR | 3,325,000 | 3,285,100 | 0.70 |
| 3,820,000 PLT VII FINANCE S.A 4.625 20-26 16/07S | EUR | 3,893,400 | 3,906,484 | 0.83 |
| 3,500,000 ROSSINI SARL	6.75 18-25 30/10S | EUR | 3,781,926 | 3,626,105 | 0.77 |
| 2,129,000 SUMMER BC HOLDC 5.75 19-26 31/10S | EUR | 2,075,504 | 2,228,595 | 0.48 |
| 2,717,575 SUMMER BC HOLDC 9.25 19-27 31/10S | EUR | 2,873,705 | 2,950,403 | 0.63 |
| 761,000 TELECOM ITALIA FIN  7.75 03-33 24/01A	EUR | 1,059,688 | 1,082,762 | 0.23 |
| 1,100,000 VIVION INVESTS 3.00 19-24 08/08A	EUR | 1,084,373 | 1,062,270 | 0.23 |
| France | 78,841,129 | 82,208,915 | 17.56 |
| 2,688,000 AFFLELOU SAS 4.25 21-26 19/05S	EUR | 2,688,000 | 2,732,997 | 0.58 |
| 1,763,000 ALTICE FRANCE SA | 2.5 19-25 15/01S | EUR | 1,748,075 | 1,730,913 | 0.37 |
| 4,790,000 ALTICE FRANCE SA 5.8750 18-27 01/02S | EUR | 5,043,287 | 5,016,950 | 1.07 |
| 700,000 BANIJAY ENTERTAINMEN 3.5 20-25 11/02S | EUR | 704,428 | 700,648 | 0.15 |
| 870,000 BANIJAY GROUP SAS 6.5 20-26 11/02S | EUR | 891,750 | 899,545 | 0.19 |
| 1,940,000 CMA CGM 7.5 20-26 21/10S | EUR | 1,954,421 | 2,136,095 | 0.46 |
| 1,980,000 CROWN EUROPEAN HOLD 2.875 18-26 01/02S | EUR | 1,877,374 | 2,093,741 | 0.45 |
| 1,670,000 ELIOR GROUP SA 3.75 21-26 08/07S | EUR | 1,670,000 | 1,711,892 | 0.37 |
| 908,000 FAURECIA	2.625 18-25 15/06S | EUR | 912,650 | 919,468 | 0.20 |
| 1,750,000 FAURECIA	3.1250 19-26 15/06S | EUR | 1,727,688 | 1,785,928 | 0.38 |
| 1,477,000 FAURECIA SE 3.75 20-28 31/07S | EUR | 1,502,053 | 1,533,732 | 0.33 |
| 3,316,000 GOLDSTORY SAS 5.375 21-26 04/02S | EUR | 3,339,991 | 3,412,380 | 0.73 |
| 4,785,000 ILIAD HOLDING	5.125 21-26 15/10S | EUR | 4,785,000 | 4,926,636 | 1.05 |
| 5,540,000 ILIAD HOLDING	5.625 21-28 15/10S | EUR | 5,599,900 | 5,727,390 | 1.22 |
| 1,200,000 KAPLA HOLDING S	3.3750 19-26 15/12S | EUR | 1,107,304 | 1,189,560 | 0.25 |
| 2,400,000 LA FINAC ATALIAN SA 4.00 17-24 15/05S | EUR | 1,979,479 | 2,369,712 | 0.51 |
| 1,700,000 LA FINANCIE	5.125 18-25 31/12A | EUR | 1,609,300 | 1,701,607 | 0.36 |
| 2,120,000 LOXAM	5.75 19-27 15/07S | EUR | 1,680,881 | 2,187,617 | 0.47 |
| 1,000,000 LOXAM SAS	6.00 17-25 15/04S | EUR | 977,680 | 1,015,185 | 0.22 |
| 1,580,000 LOXAM SAS 3.25 19-25 14/01S | EUR | 1,517,009 | 1,584,045 | 0.34 |
| 1,680,000 LOXAM SAS 4.25 17-24 15/04S	EUR | 1,441,056 | 1,692,919 | 0.36 |
| 523,000 MOBILUX FINANCE 4.25 21-28 29/06S	EUR | 523,000 | 518,633 | 0.11 |
| 1,800,000 ORANO SA 2.75 20-28 08/09A | EUR | 1,791,397 | 1,856,925 | 0.40 |
| 2,800,000 ORANO SA 3.375 19-26 23/04A | EUR | 2,818,096 | 3,012,786 | 0.64 |
| 3,020,000 PAPREC	4.0 18-25 29/03S | EUR | 2,818,339 | 3,063,352 | 0.65 |
| 6,660,000 PARTS EUROPE SA 6.5 20-25 17/07S | EUR | 6,727,133 | 6,941,617 | 1.49 |
| 5,950,000 PICARD GROUPE 3.875 21-26 07/07S | EUR | 5,952,240 | 5,979,065 | 1.29 |
| 1,670,000 QUATRIM	5.8750 19-24 31/01A | EUR | 1,664,528 | 1,719,474 | 0.37 |
| 1,100,000 RENAULT SA	2.0000 18-26 28/09A | EUR | 1,113,750 | 1,096,139 | 0.23 |
| 1,300,000 RENAULT SA 2.375 20-26 25/11A | EUR | 1,300,000 | 1,320,475 | 0.28 |
| 1,300,000 RENAULT SA 2.5 21-28 01/04A | EUR | 1,300,000 | 1,303,250 | 0.28 |

Quantity	Denomination	Quotation
currency
Acquisition cost
Market value
% of net assets
| 1,100,000 RUBIS TERMINAL INFRA 5.625 20-25 19/05S | EUR | 1,159,400 | 1,143,978 | 0.24 |
| --- | --- | --- | --- | --- |
| 2,900,000 SPIE SA 2.625 19-26 18/06A | EUR | 2,886,033 | 3,013,216 | 0.64 |
| 1,900,000 TEREOS FINANCE	4.125 16-23 16/06A | EUR | 1,806,397 | 1,936,642 | 0.41 |
| 1,272,000 TEREOS FINANCE GROUP 7.5 20-25 23/10S | EUR | 1,338,917 | 1,371,763 | 0.29 |
| 830,000 VALLOUREC SA 8.5 21-26 30/06S | EUR | 884,573 | 862,640 | 0.18 |
| United Kingdom |  | 29,250,920 | 29,648,136 | 6.33 |
| 1,830,000 BCP V MODULAR SERVICES FINANCE II PLC | EUR | 1,832,690 | 1,830,979 | 0.39 |
| 1,883,000 BP CAPITAL MARKETS 3.25 20-XX 22/06A | EUR | 1,911,500 | 2,007,090 | 0.43 |
| 5,600,000 BP CAPITAL MARKETS 3.625 20-XX 22/06A | EUR | 6,112,989 | 6,039,095 | 1.29 |
| 722,000 INEOS QUATTRO FINANC 2.5 21-26 29/01S | EUR | 722,000 | 721,419 | 0.15 |
| 1,669,000 INEOS QUATTRO FINANC 3.75 21-26 29/01S | EUR | 1,693,062 | 1,688,744 | 0.36 |
| 850,000 INTL GAME TECHNOLOGY 3.5000 19-26 15/06S | EUR | 858,972 | 872,045 | 0.19 |
| 1,100,000 JAGUAR LAND ROVER 5.8750 19-24 15/11S | EUR | 1,019,857 | 1,178,711 | 0.25 |
| 2,650,000 MODULAIRE GLOBAL FIN 6.50 18-23 15/02S | EUR | 2,643,967 | 2,695,209 | 0.58 |
| 1,383,000 NOMAD FOODS BONDCO P 2.5 21-28 24/06S | EUR | 1,383,000 | 1,377,019 | 0.29 |
| 988,000 SYNTHOMER PLC 3.875 20-25 25/06S | EUR | 988,000 | 1,016,726 | 0.22 |
| 1,801,000 VICTORIA PLC 3.625 21-26 05/03S | EUR | 1,806,700 | 1,822,018 | 0.39 |
| 419,000 VICTORIA PLC 3.75 21-28 19/03S | EUR | 419,000 | 425,059 | 0.09 |
| 2,745,000 VIRGIN MEDIA FINANCE 3.75 20-30 22/06S | EUR | 2,725,788 | 2,732,152 | 0.58 |
| 2,445,000 VIRIDIAN GRP FINANCEO 4.00 17-25 15/09S | EUR | 2,370,113 | 2,434,242 | 0.52 |
| 1,127,000 VMED O2 UK FINANCING 3.25 20-31 24/09S | EUR | 1,127,000 | 1,131,778 | 0.24 |
| 1,620,000 VODAFONE GROUP 3.1 18-79 03/01A | EUR | 1,636,282 | 1,675,850 | 0.36 |
| The Netherlands |  | 36,938,520 | 37,556,514 | 8.02 |
| 1,600,000 ABERTIS FINANCE BV  2.625 21-49 31/12A | EUR | 1,577,536 | 1,568,960 | 0.34 |
| 2,091,000 DARLING GLOBAL FIN  3.625 18-26 15/05S | EUR | 2,105,660 | 2,127,760 | 0.45 |
| 1,070,000 DUFRY ONE B.V. 3.375 21-28 22/04S | EUR | 1,058,299 | 1,054,448 | 0.23 |
| 1,300,000 ENERGIZER GAMMA ACQU 3.5 21-29 23/06S | EUR | 1,300,000 | 1,262,508 | 0.27 |
| 1,600,000 INTERTRUST GROUP BV 3.375 18-25 15/11S | EUR | 1,641,976 | 1,614,816 | 0.34 |
| 992,000 LKQ EURO HOLDINGS BV 4.125 18-28 01/04S | EUR | 1,008,078 | 1,057,626 | 0.23 |
| 650,000 MAXEDA DIY HOLDING B 5.875 20-26 24/09S | EUR | 650,000 | 656,656 | 0.14 |
| 2,694,000 NOBEL BIDCO B.V. 3.125 21-28 25/06S | EUR | 2,679,096 | 2,596,625 | 0.55 |
| 3,298,000 NOBIAN FINANCE B.V. 3.625 21-26 01/07S | EUR | 3,280,252 | 3,204,039 | 0.68 |
| 1,380,000 OI EUROPEAN GROUP  2.8750 19-25 15/02S | EUR | 1,364,932 | 1,387,866 | 0.30 |
| 3,052,000 PPF TELECOM GR 2.125 19-25 31/01A | EUR | 3,040,904 | 3,138,158 | 0.67 |
| 3,388,000 PPF TELECOM GR 3.125 19-26 27/03A | EUR | 3,400,208 | 3,617,892 | 0.77 |
| 1,400,000 PPF TELECOM GROUP B. 3.25 20-27 29/09A | EUR | 1,389,248 | 1,514,877 | 0.32 |
| 1,686,000 PPF TELECOM GROUP B. 3.5 20-24 20/05A | EUR | 1,709,786 | 1,791,788 | 0.38 |
| 1,795,000 UNITED GROUP B.V. 3.125 20-26 06/02S | EUR | 1,730,138 | 1,730,739 | 0.37 |
| 1,000,000 UNITED GROUP BV 4.875 17-24 01/07S | EUR | 1,044,200 | 1,012,465 | 0.22 |
| 1,100,000 UPC HOLDING BV	3.875 17-29 15/06S | EUR | 995,390 | 1,120,851 | 0.24 |
| 1,000,000 WINTERSHALL DEA FINA 2.4985 21-99 31/12A | EUR | 1,000,000 | 995,000 | 0.21 |
| 1,100,000 ZF EUROPE FINANCE  2.5 19-27 23/10A | EUR | 1,016,634 | 1,115,373 | 0.24 |
| 2,310,000 ZIGGO BOND COMPANY B 3.375 20-30 11/02S | EUR | 2,141,591 | 2,280,166 | 0.49 |
| 2,640,000 ZIGGO BV 4.25 16-27 15/01S | EUR | 2,804,592 | 2,707,901 | 0.58 |
| Germany |  | 50,055,062 | 50,937,084 | 10.88 |
| 2,508,000 CHEPLAPHARM ARZNEIMI 3.5 20-27 11/02S | EUR | 2,500,475 | 2,512,163 | 0.54 |
| 1,102,000 CHEPLAPHARM ARZNEIMI 4.375 20-28 15/10S | EUR | 1,107,500 | 1,135,066 | 0.24 |
| 3,362,000 CT INVESTMENT GMBH 5.5 21-26 29/04S | EUR | 3,369,590 | 3,423,609 | 0.73 |
| 1,700,000 DEUTSCHE LUFTHANSA A 3 20-26 01/12A | EUR | 1,688,865 | 1,732,606 | 0.37 |
| 1,100,000 DEUTSCHE LUFTHANSA A 3.75 21-28 11/02A | EUR | 1,110,137 | 1,137,076 | 0.24 |
| 1,852,000 GRUENENTHAL GMBH 3.625 21-26 05/05S | EUR | 1,876,500 | 1,905,347 | 0.41 |
| 710,000 GRUENENTHAL GMBH 4.125 21-28 05/05S | EUR | 716,400 | 736,625 | 0.16 |
| 2,780,000 IHO VERWALTUNGS	3.625 19-25 15/05S | EUR | 2,598,021 | 2,824,841 | 0.60 |
| 900,000 IHO VERWALTUNGS	3.875 19-27 15/05S | EUR | 907,875 | 922,680 | 0.20 |
| 510,000 KAEFER ISOLIERTECHNIK	5.5 18-24 10/01S | EUR | 514,425 | 515,735 | 0.11 |
| 600,000 MAHLE GMBH 2.375 21-28 14/05A | EUR | 600,000 | 583,560 | 0.12 |
| 1,912,000 NIDDA HEALTHCAR	3.50 17-24 30/09S | EUR | 1,908,363 | 1,886,551 | 0.40 |
| 1,800,000 NOVELIS SHEET INGOT 3.375 21-29 31/03S | EUR | 1,865,250 | 1,840,388 | 0.39 |
| 2,469,000 PCF GMBH 4.75 21-26 22/04S | EUR | 2,498,863 | 2,516,874 | 0.54 |
| 1,830,000 PLATIN 1426 GMBH	5.375 17-23 15/06S | EUR | 1,849,893 | 1,836,625 | 0.39 |
| 2,030,000 PRESTIGEBIDCO GMBH 6.25 16-23 15/12S | EUR | 2,109,831 | 2,040,688 | 0.44 |
| 865,000 RENK GMBH (DUPLICATE 5.75 20-25 13/07S | EUR | 890,950 | 898,294 | 0.19 |
| 5,600,000 TECHEM VERWALTUNGSGE 2 20-25 29/01S | EUR | 5,499,271 | 5,508,915 | 1.18 |
| 2,197,995 TECHEMVERWALT.674 6.00 18-26 30/07S | EUR | 2,250,918 | 2,259,604 | 0.48 |
| 5,720,000 TELE COLOMBUS	3.875 18-25 04/05S | EUR | 5,498,214 | 5,697,033 | 1.22 |
| 690,000 THYSSENKRUPP AG 2.875 19-24 22/02A | EUR | 612,519 | 701,840 | 0.15 |

Quantity	Denomination	Quotation
currency
Acquisition cost
Market value
% of net assets
| 900,000 TK ELEVATOR MIDCO GM 4.375 20-27 15/07S | EUR | 922,500 | 927,671 | 0.20 |
| --- | --- | --- | --- | --- |
| 700,000 ZF FINANCE GMBH 2 21-27 06/05A | EUR | 699,582 | 701,337 | 0.15 |
| 1,500,000 ZF FINANCE GMBH 2.75 20-27 25/11A | EUR | 1,489,170 | 1,535,618 | 0.33 |
| 1,100,000 ZF FINANCE GMBH 3 20-25 21/09A | EUR | 1,093,730 | 1,154,362 | 0.25 |
| 3,700,000 ZF FINANCE GMBH 3.75 20-28 21/09A | EUR | 3,876,220 | 4,001,976 | 0.85 |
| Italy |  | 22,421,654 | 22,978,975 | 4.91 |
| 2,965,000 ALMAVIVA - THE ITALIA 4.875 21-26 30/10S | EUR | 2,965,000 | 2,959,737 | 0.63 |
| 409,000 ALMAVIVA THE ITALIAN 7.25 17-21 03/11S | EUR | 359,877 | 409,436 | 0.09 |
| 200,000 ATLANTIA SPA	1.875 17-27 13/07A | EUR | 197,700 | 207,799 | 0.04 |
| 1,120,000 AUTOSTRADE ITALIA SPA 4.375 10-25 16/09A | EUR | 1,264,499 | 1,275,075 | 0.27 |
| 1,100,000 AUTOSTRADE PER I'ITA 2 20-28 04/12A | EUR | 1,153,159 | 1,156,722 | 0.25 |
| 5,013,000 AUTOSTRADE PER I'ITA 2 21-30 15/01A | EUR | 5,127,158 | 5,273,876 | 1.13 |
| 430,000 GAMMA BIDCO S.P.A. 5.125 21-25 01/04S | EUR | 433,775 | 434,730 | 0.09 |
| 1,793,000 GAMMA BIDCO S.P.A. 6.25 20-25 23/07S | EUR | 1,850,600 | 1,854,025 | 0.40 |
| 1,246,000 INDUSTRIA MACCHINE A 3.75 20-28 29/12S | EUR | 1,246,000 | 1,240,275 | 0.26 |
| 1,540,000 INTERNATIONAL DESIGN GR 6.5 18-25 15/11S | EUR | 1,534,932 | 1,589,603 | 0.34 |
| 400,000 NEXI SPA 1.7500 19-24 31/10S | EUR | 406,392 | 407,152 | 0.09 |
| 2,520,000 REKEEP S.P.A. 7.25 21-26 28/01S | EUR | 2,555,525 | 2,697,345 | 0.58 |
| 1,280,000 TELECOM ITALIA SPA  2.875 18-26 28/01A | EUR | 1,267,425 | 1,339,494 | 0.29 |
| 300,000 TELECOM ITALIA SPA  5.25 05-55 17/03A | EUR | 342,963 | 347,094 | 0.07 |
| 1,300,000 TELECOM ITALIA 2.375 17-27 12/10A	EUR | 1,251,649 | 1,314,716 | 0.28 |
| 465,000 VERDE BIDCO SPA ITALY 4.625 21-26 01/10A	EUR | 465,000 | 471,896 | 0.10 |
| Denmark | 5,404,806 | 5,434,888 | 1.16 |
| 5,339,000 DKT FINANCE APS | 7.00 18-23 17/06S | EUR | 5,404,806 | 5,434,888 | 1.16 |
| Spain |  |  | 11,377,414 | 11,370,630 | 2.43 |
| 340,000 ALMIRALL SA | 2.1250 21-26 30/09S | EUR | 340,000 | 342,526 | 0.07 |
| 1,100,000 CELLNEX FINANCE COMP 1.25 21-29 15/02A | EUR | 1,084,402 | 1,054,933 | 0.23 |
| 1,500,000 CELLNEX TELECOM S.A. 1.75 20-30 23/10A | EUR | 1,451,850 | 1,450,035 | 0.31 |
| 1,000,000 CELLNEX TELECOM S.A. 1.875 20-29 26/06A | EUR | 993,822 | 996,400 | 0.21 |
| 744,000 EL CORTE INGLES SA 3	18-24 15/03S | EUR | 744,000 | 749,792 | 0.16 |
| 410,000 EL CORTE INGLES SA 3.625 20-24 15/03S | EUR | 415,824 | 422,407 | 0.09 |
| 1,537,000 GRIFOLS ESCROW	3.8750 21-28 15/10S | EUR | 1,537,020 | 1,541,749 | 0.33 |
| 1,320,000 GRIFOLS SA 3.20 17-25 01/05S | EUR | 1,329,366 | 1,324,250 | 0.28 |
| 1,671,000 LORCA TELECOM BONDCO 4 20-27 30/09S | EUR | 1,679,130 | 1,684,652 | 0.36 |
| 1,795,000 NH HOTEL GROUP S.A 4 21-26 28/06S | EUR | 1,802,000 | 1,803,886 | 0.39 |
| United States of America |  | 32,858,977 | 34,292,787 | 7.32 |
| 1,900,000 AVANTOR FUNDING INC 2.625 20-25 06/11S | EUR | 1,928,650 | 1,947,111 | 0.42 |
| 2,545,000 CHEMOURS CO	4.00 18-26 15/05S | EUR | 2,373,452 | 2,575,973 | 0.55 |
| 500,000 COLFAX CORP	3.25 17-25 15/05S | EUR | 504,200 | 503,780 | 0.11 |
| 1,700,000 FORD MOTOR CREDIT CO 2.33 19-25 25/11A | EUR | 1,530,767 | 1,758,956 | 0.38 |
| 600,000 FORD MOTOR CREDIT CO 3.021 19-24 06/03A | EUR | 582,000 | 627,408 | 0.13 |
| 1,895,000 FORD MOTOR CREDIT CO 3.25 20-25 15/09A | EUR | 1,912,997 | 2,026,058 | 0.43 |
| 1,100,000 IQVIA INC	2.25 19-28 15/01A | EUR | 1,111,733 | 1,099,203 | 0.23 |
| 1,000,000 IQVIA INC 1.75 21-26 03/03S | EUR | 1,004,950 | 1,005,250 | 0.21 |
| 2,100,000 KRONOS INTL	3.75 17-25 15/09S | EUR | 2,146,900 | 2,115,729 | 0.45 |
| 300,000 LEVI STRAUSS & CO 3.375 17-27 15/03S | EUR | 306,960 | 307,046 | 0.07 |
| 2,010,000 NETFLIX INC 3.625 17-27 05/02S | EUR | 2,028,754 | 2,315,168 | 0.49 |
| 2,720,000 NETFLIX INC 3.6250 19-30 15/06S | EUR | 3,253,264 | 3,256,968 | 0.70 |
| 2,510,000 NETFLIX INC 3.8750 19-29 15/11S | EUR | 2,835,971 | 3,040,789 | 0.65 |
| 1,450,000 NETFLIX INC 4.625 18-29 15/05S | EUR | 1,668,891 | 1,821,599 | 0.39 |
| 1,104,000 ORGANON COMPANY 2.875 21-28 22/04S | EUR | 1,109,940 | 1,116,972 | 0.24 |
| 2,330,000 PRIMO WATER HOLDINGS 3.875 20-28 22/10S | EUR | 2,337,399 | 2,386,479 | 0.51 |
| 650,000 SCIENTIFIC GAMES 3.375 18-26 15/02S | EUR | 648,342 | 659,334 | 0.14 |
| 780,000 SCIENTIFIC GAMES INTL 5.5 18-26 15/02S | EUR | 746,596 | 809,289 | 0.17 |
| 1,331,000 SCIL IV LLC / SCIL US 4.375 21-26 01/11S | EUR | 1,331,000 | 1,339,791 | 0.29 |
| 855,000 SILGAN HOLDINGS INC 2.25 20-28 26/02S | EUR | 855,000 | 858,446 | 0.18 |
| 900,000 SILGAN HOLDINGS INC 3.25 17-25 15/03S | EUR | 910,752 | 906,525 | 0.19 |
| 1,787,000 UGI INTERNATION	3.2500 18-25 01/11S | EUR | 1,730,459 | 1,814,913 | 0.39 |
| Sweden |  | 12,325,618 | 12,352,740 | 2.64 |
| 1,100,000 DOMETIC GROUP AB	2.000 21-28 29/09A | EUR | 1,100,000 | 1,081,322 | 0.23 |
| 1,150,000 HEIMSTADEN BOST	3.0000 21-49 31/12A | EUR | 1,160,914 | 1,101,418 | 0.24 |
| 1,200,000 UNILABS SUBHOLDING AB 5.75 17-25 15/05S | EUR | 1,134,000 | 1,219,044 | 0.26 |
| 2,380,000 VERISURE HOLDING AB 3.5 18-23 16/11S | EUR | 2,420,334 | 2,400,123 | 0.51 |
| 1,100,000 VERISURE HOLDING AB 3.875 20-26 15/07S | EUR | 1,119,730 | 1,123,502 | 0.24 |
| 678,000 VERISURE HOLDING AB 3.25 21-27 25/01S | EUR | 678,000 | 677,332 | 0.14 |
| 4,674,000 VERISURE MIDHOLDING 5.25 21-29 25/01S | EUR | 4,712,640 | 4,749,999 | 1.02 |

Quantity	Denomination	Quotation
currency
Acquisition cost
Market value
% of net assets
| Austria |  | 3,945,742 | 4,045,519 | 0.86 |
| --- | --- | --- | --- | --- |
| 1,000,000 AMS AG 6 20-25 06/07S | EUR | 1,065,000 | 1,059,075 | 0.23 |
| 1,150,000 SAPPI PAPIER HOLDING 3.125 19-26 15/04S | EUR | 1,072,247 | 1,162,104 | 0.25 |
| 1,805,000 SAPPI PAPIER HOLDING 3.625 21-28 24/03S | EUR | 1,808,495 | 1,824,340 | 0.38 |
| Belgium |  | 3,557,450 | 3,677,486 | 0.79 |
| 3,612,000 HOUSE OF FIN 4.375	19-26 15/07S | EUR | 3,557,450 | 3,677,486 | 0.79 |
| Ireland |  | 1,818,188 | 1,806,097 | 0.39 |
| 686,000 EIRCOM FINANCE 2.625 19-27 15/02A | EUR | 686,000 | 677,072 | 0.14 |
| 1,110,000 EIRCOM FINANCE 3.50 19-26 15/05U | EUR | 1,132,188 | 1,129,025 | 0.25 |
| Finland |  | 2,876,432 | 3,073,761 | 0.66 |
| 2,762,000 NOKIA CORP 3.125 20-28 15/05A | EUR | 2,876,432 | 3,073,761 | 0.66 |
| Jersey Island |  | 2,815,352 | 2,817,547 | 0.60 |
| 2,770,000 AVIS BUDGET FINANCE 4.75 18-26 04/10S | EUR | 2,815,352 | 2,817,547 | 0.60 |
| The Netherlands Antilles |  | 12,975,539 | 13,897,915 | 2.97 |
| 3,040,000 TEVA PHARMA	1.25 15-23 31/03A | EUR | 2,826,184 | 3,032,719 | 0.65 |
| 1,240,000 TEVA PHARMA 1.125 16-24 15/10A | EUR | 1,091,384 | 1,198,274 | 0.26 |
| 3,390,000 TEVA PHARMA 4.5 18-25 01/03U | EUR | 3,246,104 | 3,496,514 | 0.75 |
| 5,730,000 TEVA PHARMACEUTICAL 6 20-25 31/07S | EUR | 5,811,867 | 6,170,408 | 1.31 |
| Romania |  | 3,495,807 | 3,671,276 | 0.78 |
| 3,300,000 RCS RDS SA 2.5 20-25 05/02S | EUR | 3,141,307 | 3,274,310 | 0.70 |
| 400,000 RCS RDS SA 3.25 20-28 05/02S | EUR | 354,500 | 396,966 | 0.08 |
| Floating rate bonds |  | 67,888,094 | 69,050,523 | 14.75 |
| Luxembourg |  | 7,814,570 | 7,900,096 | 1.69 |
| 1,400,000 CIRSA FIN INTL  FL.R 19-25 30/09Q | EUR | 1,379,000 | 1,370,117 | 0.29 |
| 1,272,000 CPI PROPERTY GROUP FL.R 20-XX 16/11A | EUR | 1,258,642 | 1,309,410 | 0.28 |
| 1,528,000 HSE FINANCE S.A R.L. FL.R 21-26 06/05Q | EUR | 1,520,359 | 1,551,531 | 0.34 |
| 1,497,000 LION/POLARIS LUX 4 S FL.R 21-26 07/07Q | EUR | 1,497,000 | 1,501,686 | 0.32 |
| 1,330,000 ROSSINI SARL	FL.R 19-25 30/10Q | EUR | 1,344,415 | 1,332,826 | 0.28 |
| 820,000 SES SA FL.R 21-99 31/12A | EUR | 815,154 | 834,526 | 0.18 |
| France |  | 12,988,635 | 13,357,416 | 2.85 |
| 1,500,000 EDF FL.R 18-99 04/10A | EUR | 1,560,715 | 1,596,143 | 0.34 |
| 1,800,000 EDF FL.R 20-XX XX/XXA | EUR | 1,802,540 | 1,874,961 | 0.40 |
| 2,300,000 EDF FL.R 14-XX 22/01A | EUR | 2,484,618 | 2,561,418 | 0.55 |
| 1,000,000 EDF FL.R 21-XX 01/06A | EUR | 994,868 | 1,004,330 | 0.21 |
| 1,400,000 EDF FL.R 13-XX 29/01A | EUR | 1,525,800 | 1,552,677 | 0.33 |
| 582,000 GOLDSTORY SAS FL.R 21-26 04/02Q | EUR | 582,000 | 589,493 | 0.13 |
| 570,000 KAPLA HOLDING S	FL.R 19-26 15/12Q | EUR | 570,000 | 562,282 | 0.12 |
| 2,203,000 PARTS EUROPE SA FL.R 21-27 15/07Q | EUR | 2,203,274 | 2,208,034 | 0.47 |
| 1,400,000 RCI BANQUE SA FL.R 19-30 18/02A | EUR | 1,264,820 | 1,408,078 | 0.30 |
| United Kingdom |  | 4,871,128 | 5,079,630 | 1.08 |
| 1,300,000 GAZ FINANCE PLC FL.R 20-99 31/12A | EUR | 1,346,485 | 1,341,080 | 0.29 |
| 3,350,000 VODAFONE GROUP FL.R 18-78 03/10A | EUR | 3,524,643 | 3,738,550 | 0.79 |
| The Netherlands |  | 24,954,823 | 25,356,485 | 5.43 |
| 2,600,000 ABERTIS FINANCE BV FL.R 20-XX 24/02A | EUR | 2,614,569 | 2,663,362 | 0.57 |
| 800,000 ELM BV FL.R 20-99 31/12A | EUR | 795,432 | 851,652 | 0.18 |
| 680,000 REPSOL INTL FINANCE FL.R 15-75 25/03A | EUR | 683,024 | 735,389 | 0.16 |
| 1,342,000 REPSOL INTL FINANCE FL.R 20-XX 11/12A | EUR | 1,404,737 | 1,454,419 | 0.31 |
| 1,783,000 REPSOL INTL FINANCE FL.R 20-49 31/12A | EUR | 1,800,602 | 1,885,202 | 0.40 |
| 671,200 SUMMER BIDCO FL.R 19-25 17/11S | EUR | 691,815 | 686,309 | 0.15 |
| 1,300,000 TELEFONICA EURO	FL.R 19-XX 14/03A | EUR | 1,330,204 | 1,400,386 | 0.30 |
| 2,900,000 TELEFONICA EUROPE BV FL.R 13-XX 22/09A | EUR | 2,973,444 | 3,118,834 | 0.67 |
| 6,100,000 TELEFONICA EUROPE BV FL.R 14-XX 31/03A | EUR | 6,884,354 | 6,728,483 | 1.45 |
| 1,000,000 TELEFONICA EUROPE BV FL.R 18-XX XX/XXA | EUR | 1,006,202 | 1,031,350 | 0.22 |
| 2,200,000 TELEFONICA EUROPE BV FL.R 19-XX 24/09A | EUR | 2,186,178 | 2,246,882 | 0.48 |
| 1,295,000 UNITED GROUP B.V. FL.R 20-26 06/02Q | EUR | 1,295,000 | 1,270,563 | 0.27 |
| 1,280,000 UNITED GROUP BV FL.R 19-25 15/05Q | EUR | 1,289,262 | 1,283,654 | 0.27 |
| Germany |  | 2,646,927 | 2,737,010 | 0.58 |
| 635,000 APCOA PARKING HOLDIN FL.R 21-27 23/07Q | EUR | 635,000 | 635,670 | 0.14 |
| 800,000 INFINEON TECHNOLOGIES FL.R 19-XX 01/04A | EUR | 752,000 | 834,108 | 0.17 |
| 529,000 PCF GMBH FL.R 21-26 22/04Q | EUR | 529,000 | 531,788 | 0.11 |
| 729,000 TK ELEVATOR MIDCO GM FL.R 20-27 15/07Q | EUR | 730,927 | 735,444 | 0.16 |
| Italy |  | 8,993,319 | 9,042,990 | 1.93 |
| 1,156,300 DIOCLE SPA	FL.R 19-26 30/06Q | EUR | 1,157,282 | 1,158,370 | 0.25 |
| 354,000 ENI SPA FL.R 20-XX 13/10A | EUR | 354,000 | 373,845 | 0.08 |
| 1,141,310 FABRIC BC SPA	FL.R 18-24 30/11Q | EUR | 1,118,623 | 1,142,292 | 0.24 |

| Quantity	Denomination |  | Quotation currency | Acquisition cost | Market value | % of net assets |
| --- | --- | --- | --- | --- | --- |
| 472,000 FIRE BC | FL.R 18-24 28/09Q | EUR | 471,849 | 441,792 | 0.09 |

| 500,000 GAMMA BIDCO S.P.A. FL.R 20-25 23/07Q | EUR | 490,000 | 504,285 | 0.11 |
| --- | --- | --- | --- | --- |
| 1,337,000 GOLDEN GOOSE S.P.A. FL.R 21-27 14/05Q | EUR | 1,310,260 | 1,327,694 | 0.28 |
| 2,008,000 INTERNATIONAL DESIGN FL.R 21-26 19/05Q | EUR | 2,009,150 | 2,014,948 | 0.44 |
| 1,380,000 LEATHER 2 SPA	FL.R 21-28 30/09Q | EUR | 1,379,600 | 1,379,158 | 0.29 |
| 700,000 MOONEY GROUP SPA FL.R	19-26 17/12Q | EUR | 702,555 | 700,606 | 0.15 |
| Sweden |  | 4,650,008 | 4,618,092 | 0.99 |
| 750,000 ASSEMBLIN FINANCING AB FL.R	19-25 15/05Q | EUR | 750,000 | 753,848 | 0.16 |
| 726,000 CASTELLUM AB	FL.R 21-99 31/12A | EUR | 726,000 | 705,037 | 0.15 |
| 1,000,000 HEIMSTADEN AB	FL.R 20-XX XX/XXA | EUR | 995,942 | 1,000,265 | 0.21 |
| 1,050,000 HEIMSTADEN BOST	FL.R 21-XX XX/XXA | EUR | 1,040,781 | 996,077 | 0.21 |
| 1,143,000 TRANSCOM HOLDING AB FL.R 21-26 18/06Q | EUR | 1,137,285 | 1,162,865 | 0.26 |
| Finland |  | 968,684 | 958,804 | 0.20 |
| 985,000 CITYCON OY J  FL.R	21-99 31/12A | EUR | 968,684 | 958,804 | 0.20 |

| Other transferable securities | 1,150,000 | 1,129,737 | 0.24 |
| --- | --- | --- | --- |
| Bonds |  | 1,150,000 | 1,129,737 | 0.24 |
|  | United Kingdom | 1,150,000 | 1,129,737 | 0.24 |
| 1,150,000 BCP V MODULAR SERVICES 6.75 21-29 30/11S | EUR | 1,150,000 | 1,129,737 | 0.24 |
| Total Investments |  | 445,638,190 | 455,659,928 | 97.32 |
| Cash Net |  |  | 31,367,337 | 6.70 |
| Other Assets/(Liabilities) |  |  | (18,813,673) | (4.02) |
| Total Net Assets |  |  | 468,213,592 | 100.00 |


##### Geographic allocation of portfolio
% of Net Assets
France	20.41
Luxembourg	15.72
The Netherlands	13.45
Germany	11.46
United Kingdom	7.65
United States of America	7.32
Italy	6.84
Sweden	3.63
The Netherlands Antilles	2.97
Spain	2.43
Denmark	1.16
Finland	0.86
Austria	0.86
Belgium	0.79
Romania	0.78
Jersey Island	0.60
Ireland	0.39
Other assets
2.68
100.00
Statement of Operations and Changes in Net Assets from 01.11.2020 to 31.10.2021
Expressed in EUR
| Income |  | 17,813,806 |
| --- | --- | --- |
| Interest on bonds, Net | Note 2d | 17,522,125 |
| Bank interest |  | 2,119 |
| Other financial income |  | 53 |
| Interest on repurchase agreements | Note 2f | 150,620 |
| Interest on swaps contracts |  | 138,889 |
| Expenses |  | 3,565,547 |
| Investment management fee | Note 3 | 2,743,897 |
| Depositary fees | Note 5 | 6,301 |
| Taxe d'abonnement | Note 7a | 67,376 |
| Domiciliary, administrative and transfer agency fees | Note 5 | 206,473 |
| Professional fees | Note 12 | 87,801 |
| Bank charges |  | 143,755 |
| Transaction costs | Note 2g | 1,198 |
| Expenses on repurchase agreements | Note 2f | 1,914 |
| Interest on swaps contracts |  | 280,417 |
| Sundry expenses |  | 26,415 |
| Net income from investments |  | 14,248,259 |
| Net Realised gain / (loss) on: - Sales of investments | Note 2d | 13,547,245 |
| - Forward currency exchange contracts | Note 2e | 204 |
| - Financial futures contracts | Note 2e | (306,300) |
| - Swaps contracts | Note 2e | 301,925 |
| - Foreign exchange | Note 2c | (395) |
| Net realised profit |  | 27,790,938 |
| Movement in net unrealised appreciation / (depreciation) on: - Investments |  | 5,699,448 |
| - Forward currency exchange contracts | Note 2e | 1,016 |
| - Financial futures contracts | Note 2e | 310,100 |
| - Swaps contracts | Note 2e | (831,769) |
| Increase in net assets as a result of operations |  | 32,969,733 |
| Dividends paid | Note 6 | (8,307,703) |
| Subscription capitalisation shares |  | 133,569,807 |
| Subscription distribution shares |  | 15,195,488 |
| Redemption capitalisation shares |  | (95,570,320) |
| Redemption distribution shares |  | (70,922,024) |
| Increase in net assets |  | 6,934,981 |
| Net assets at the beginning of the year |  | 461,278,611 |
| Net assets at the end of the year |  | 468,213,592 |

The accompanying notes form an integral part of these financial statements

Translation (ENIT, 2021-10-31):
# ODDO BHF
## Consolidato

### Prospetti finanziari al 31.10.2021
Stato patrimoniale al 31.10.2021
Valori espressi in EUR
| Attivo |  | 3,455,855,624 |
| --- | --- | --- |
| Portafoglio titoli a prezzo di mercato | Nota 2b | 3,200,193,431 |
| Prezzo d'acquisto |  | 3,132,117,423 |
| Depositi bancari a vista e liquidità |  | 151,788,468 |
| Altre liquidità |  | 3,900,692 |
| Depositi vincolati |  | 54,216,232 |
| Interessi maturati |  | 28,493,013 |
| Crediti verso broker per vendita titoli |  | 9,533,752 |
| Sottoscrizioni da regolare |  | 6,323,038 |
| Dividendi da incassare |  | 215,814 |
| Plusvalenze non realizzate su future su cambi | Nota 2e | 169,786 |
| Plusvalenze non realizzate su future | Nota 2e | 310,100 |
| Crediti su contratti a termine su valute |  | 711,298 |
| Passivo |  | 118,416,503 |
| Debiti bancari a vista |  | 3,073,753 |
| Debiti verso broker per acquisto titoli |  | 26,524,085 |
| Minusvalenze non realizzate su contratti a termine su valute | Nota 2f, 9 | 53,359,760 |
| Commissioni di performance | Nota 4 | 465,857 |
| Rimborsi chiesti e non regolati |  | 17,431,261 |
| Minusvalenze non realizzate su future su cambi | Nota 2e | 778,795 |
| Minusvalenze non realizzate su future | Nota 2e | 2,187,615 |
| Minusvalenze non realizzate su swaps | Nota 2e | 11,493,550 |
| Commissioni di gestione e consulenza |  | 1,671,213 |
| Importi dovuti su contratti a termine su valute |  | 709,351 |
| Altre voci del passivo |  | 721,263 |
| Valore netto d'inventario |  | 3,337,439,121 |

Conto economico e variazioni patrimoniali dal 01.11.2020 al 31.10.2021
Valori espressi in EUR
| Proventi |  | 84,944,726 |
| --- | --- | --- |
| Dividendi netti | Nota 2d | 2,990,398 |
| Cedole nette da obbligazzioni | Nota 2d | 80,832,892 |
| Interessi bancari su conti correnti |  | 19,766 |
| Interessi bancari su conti bancari |  | 254 |
| Altri proventi finanziari |  | 113,902 |
| Interessi su pronti contro termine | Nota 2f | 451,681 |
| Interessi su interessi tasso swaps |  | 535,833 |
| Spese |  | 24,417,521 |
| Commissioni di gestione e consulenza | Nota 3 | 17,050,963 |
| Commissioni della banca depositaria e sub-depositaria | Nota 5 | 93,517 |
| Tassa d'abbonamento | Nota 7a | 588,508 |
| Commissioni di performance | Nota 4 | 468,853 |
| Commissioni di domiciliazione | Nota 5 | 1,346,561 |
| Onorari | Nota 12 | 529,091 |
| Interessi bancari su conti correnti |  | 601,777 |
| Spese di transazioni | Nota 2g | 1,416,165 |
| Spese su reverse repos | Nota 2f | 4,856 |
| Interessi su interessi tasso swaps |  | 2,099,358 |
| Altre spese |  | 217,872 |
| Reddito netto da investimenti |  | 60,527,205 |
| Utile netto realizzato / perdita netta realizzata su: - negoziazione di titoli | Nota 2d | 92,099,396 |
| - opzioni | Nota 2e | (363,347) |
| - future su cambi | Nota 2e | (5,063,515) |
| - future | Nota 2e | 515,015 |
| - swaps | Nota 2e | 11,620,691 |
| - cambi | Nota 2c | (10,996,080) |
| Utile netto realizzato |  | 148,339,365 |
| Variazioni nette delle plusvalenze / minusvalenze latenti su: - investimenti | Nota 2e | 46,428,899 |
| - future su cambi | Nota 2e | 1,786,068 |
| - future | Nota 2e | (1,104,562) |
| - swaps | Nota 2e | (10,651,319) |
| Aumento del patrimonio netto da operazioni di mercato |  | 184,798,451 |
| Dividendi distribuiti | Nota 6 | (62,524,208) |
| Sottoscrizione di azioni a capitalizzazione |  | 1,212,025,557 |
| Sottoscrizione di azioni a distribuzione |  | 303,917,196 |
| Riscatto di azioni a capitalizzazione |  | (733,907,764) |
| Riscatto di azioni a distribuzione |  | (347,980,184) |
| Aumento del patrimonio netto | 556,329,048 |
| Rivalutazione del bilancio iniziale | 797,607 |
| Patrimonio netto all'inizio dell'anno | 2,780,312,466 |
| Patrimonio netto a fine dell'anno | 3,337,439,121 |