# Statement of changes in net assets attributable to holders of redeemable participating shares (continued)
|  |  |  |  |  | MS Fideuram Eq | uity Smart |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Smartfund 80% Protected	Beta Dynamic Protection 80 Growth Fund	Fund – II 4	 80% Protected Index Portfolio |
|  |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |
| Notes | £ | £ |  | € | € |  | £ | £ |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | 8,693,869 | 40,356,408 |  | 16,105,309 | 20,118,358 |  | 17,760,351 | 19,760,880 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | 155,563 | 1,213,595 |  | 101,953 | 1,122,384 |  | 203,228 | 1,298,784 |
| Redemption of redeemable participating shares during the financial year |  | 	(4,781,919)	 | (30,027,039) |  | 	(16,289,982)	 | (3,944,603) |  | 	(3,426,053)	 | (2,223,992) |
| Net decrease in net assets resulting from share transactions |  | 	(4,626,356)	 | (28,813,444) |  | 	(16,188,029)	 | (2,822,219) |  | 	(3,222,825)	 | (925,208) |
| (Decrease)/increase in net assets attributable to holders of redeemable participating shares |  | (126,456) | (2,849,095) |  | 82,720 | (1,190,830) |  | 751,993 | (1,075,321) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	3,941,057	 | 8,693,869 |  | 	–	 | 16,105,309 |  | 	15,289,519	 | 17,760,351 |

4 
Terminated on 24 June 2021.
The accompanying notes form an integral part of the financial statements.
Smartfund Growth Fund
For the financial year ended
Smartfund Cautious Fund
For the financial year ended
Smartfund Balanced Fund For the financial year ended
|  |  | 31 July 2021 | 31 July 2020 |  | 31 July 2021 | 31 July 2020 |  | 31 July 2021 | 31 July 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Notes | £ | £ |  | £ | £ |  | £ | £ |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | 6,986,171 | 13,714,022 |  | 3,902,343 | 5,740,546 |  | 5,926,580 | 17,989,453 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | 357,623 | 905,454 |  | 1,668 | 12,831 |  | 34,112 | 342,742 |
| Redemption of redeemable participating shares during the financial year |  | 	(4,091,814)	 | (6,839,623) |  | 	(1,442,504)	 | (1,566,584) |  | 	(2,556,265)	 | (11,565,201) |
| Net decrease in net assets resulting from share transactions |  | 	(3,734,191)	 | (5,934,169) |  | 	(1,440,836)	 | (1,553,753) |  | 	(2,522,153)	 | (11,222,459) |
| Increase/(decrease) in net assets attributable to holders of redeemable participating shares |  | 749,566 | (793,682) |  | 133,005 | (284,450) |  | 316,615 | (840,414) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	4,001,546	 | 6,986,171 |  | 	2,594,512	 | 3,902,343 |  | 	3,721,042	 | 5,926,580 |

The accompanying notes form an integral part of the financial statements.
| Cautious 85% Protected Fund | Equity Risk Managed Fund | Moderate 80% Protected Fund |
| --- | --- | --- |
|  |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |
| Notes | € | € |  | € | € |  | € | € |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | 62,948,388 | 59,698,571 |  | 130,212,432 | 176,997,372 |  | 24,761,456 | 33,573,981 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | 2,053,321 | 9,436,256 |  | 3,922,797 | 108,806,088 |  | 778,929 | 3,038,167 |
| Redemption of redeemable participating shares during the financial year |  | 	(9,137,151)	 | (4,391,813) |  | 	(99,212,627)	 | (146,411,531) |  | 	(4,539,246)	 | (10,262,049) |
| Net (decrease)/increase in net assets resulting from share transactions |  | 	(7,083,830)	 | 5,044,443 |  | 	(95,289,830)	 | (37,605,443) |  | 	(3,760,317)	 | (7,223,882) |
| Increase/(decrease) in net assets attributable to holders of redeemable participating shares |  | 1,979,367 | (1,794,626) |  | 9,157,724 | (9,179,497) |  | 1,683,560 | (1,588,643) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	57,843,925	 | 62,948,388 |  | 	44,080,326	 | 130,212,432 |  | 	22,684,699	 | 24,761,456 |

The accompanying notes form an integral part of the financial statements.
SciBeta HFE Europe Equity 6F EW UCITS ETF
For the financial year ended
SciBeta HFE EM Equity 6F EW
UCITS ETF
For the financial year ended
SciBeta HFE US Equity 6F EW
UCITS ETF
For the financial year ended
|  |  | 31 July 2021 | 31 July 2020 |  | 31 July 2021 | 31 July 2020 |  | 31 July 2021 | 31 July 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Notes | € | € |  | € | € |  | € | € |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | 67,845,253 | 132,319,487 |  | 1,458,116 | 66,029,069 |  | 291,144,839 | 523,915,950 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | 26,655,925 | 79,461,348 |  | – | 42,299,561 |  | 99,986,755 | 226,866,659 |
| Redemption of redeemable participating shares during the financial year |  | 	(21,142,355)	 | (129,969,970) |  | 	–	 | (93,481,430) |  | 	(287,777,755)	 | (426,584,625) |
| Net increase/(decrease) in net assets resulting from share transactions |  | 	5,513,570	 | (50,508,622) |  | 	–	 | (51,181,869) |  | 	(187,791,000)	 | (199,717,966) |
| Increase/(decrease) in net assets attributable to holders of redeemable participating shares |  | 24,807,034 | (13,965,612) |  | 292,433 | (13,389,084) |  | 58,146,808 | (33,053,145) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	98,165,857	 | 67,845,253 |  | 	1,750,549	 | 1,458,116 |  | 	161,500,647	 | 291,144,839 |

The accompanying notes form an integral part of the financial statements.
| SciBeta HFE Japan Equity 6F	SciBeta HFE Pacific ex-Jap	Morgan Stanley RADAR ex EW UCITS ETF	Equity 6F EW UCITS ETF	Agriculture & Livestock Fund |
| --- |
|  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |
| Notes | € | € |  | € | € |  | US$ | US$ |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | 636,738 | 49,952,701 |  | 8,584,778 | 81,646,545 |  | 215,220,894 | 234,822,394 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | – | 78,915,219 |  | 46,897,034 | 58,227,265 |  | 232,270 | 10,025,308 |
| Redemption of redeemable participating shares during the financial year |  | 	(501,400)	 | (118,272,648) |  | 	(23,287,491)	 | (123,150,133) |  | 	(113,760,540)	 | (20,205,988) |
| Net (decrease)/increase in net assets resulting from share transactions |  | 	(501,400)	 | (39,357,429) |  | 	23,609,543	 | (64,922,868) |  | 	(113,528,270)	 | (10,180,680) |
| Increase/(decrease) in net assets attributable to holders of redeemable participating shares |  | 140,043 | (9,958,534) |  | 6,061,308 | (8,138,899) |  | 54,499,841 | (9,420,820) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	275,381	 | 636,738 |  | 	38,255,629	 | 8,584,778 |  | 	156,192,465	 | 215,220,894 |

The accompanying notes form an integral part of the financial statements.
| Generali 80% Protected Fund	Generali 80% Protected Fund	ACUMEN Capital Protection – A 5	 – D 6	 Portfolio |
| --- |
|  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |
| Notes | € | € |  | € | € |  | £ | £ |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year | 10,763,045 | 11,641,973 |  | 12,874,097 | 13,936,757 |  | 167,686,482 | 180,780,423 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | – | – |  | 22,989 | 63,422 |  | 28,141,697 | 82,374,987 |
| Redemption of redeemable participating shares during the financial year | 	(10,625,207)	 | – |  | 	(12,466,897)	 | (40,258) |  | 	(84,840,497)	 | (87,543,220) |
| Net (decrease)/increase in net assets resulting from share transactions | 	(10,625,207)	 | – |  | 	(12,443,908)	 | 23,164 |  | 	(56,698,800)	 | (5,168,233) |
| Decrease in net assets attributable to holders of redeemable participating shares |  | (137,838) | (878,928) |  | (430,189) | (1,085,824) |  | (1,672,265) | (7,925,708) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	–	 | 10,763,045 |  | 	–	 | 12,874,097 |  | 	109,315,417	 | 167,686,482 |

5 
Terminated on 8 July 2021. 
6 
Terminated on 8 July 2021.
The accompanying notes form an integral part of the financial statements.
| ACUMEN Income - Protection Portfolio	Movestic Avancera 75	Movestic Avancera 85 |
| --- |
|  |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |
| Notes | £ | £ |  | SEK | SEK |  | SEK | SEK |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | 69,563,558 | 89,063,200 |  | 1,054,487,476 | 469,275,746 |  | 466,356,127 | 410,259,606 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | 21,758,724 | 51,199,549 |  | 17,152,167 | 849,796,550 |  | 9,316,561 | 167,568,482 |
| Redemption of redeemable participating shares during the financial year |  | 	(18,167,932)	 | (64,131,103) |  | 	(263,469,570)	 | (171,336,519) |  | 	(116,823,835)	 | (87,596,441) |
| Net increase/(decrease) in net assets resulting from share transactions |  | 	3,590,792	 | (12,931,554) |  | 	(246,317,403)	 | 678,460,031 |  | 	(107,507,274)	 | 79,972,041 |
| Increase/(decrease) in net assets attributable to holders of redeemable participating shares |  | 1,822,449 | (6,568,088) |  | 81,733,718 | (93,248,301) |  | 2,509,297 | (23,875,520) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	74,976,799	 | 69,563,558 |  | 	889,903,791	 | 1,054,487,476 |  | 	361,358,150	 | 466,356,127 |

The accompanying notes form an integral part of the financial statements.
|  |  | ACUMEN ESG Protection |  |  |  | SciBeta HFI US Equity 6F EW |
| --- | --- | --- | --- | --- | --- | --- |
|  |  | Portfolio a |  | Pergola 90 b |  | (USD) UCITS ETF c |
|  |  | 31 July 2021 | 31 July 2020 |  | 31 July 2021 | 31 July 2020 |  | 31 July 2021 | 31 July 2020 |
| Notes | £ | £ |  | € | € |  | US$ | US$ |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | 30,936,124 | – |  | 21,622,005 | – |  | 68,207,572 | – |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | 27,305,032 | 37,444,942 |  | 18,475,030 | 21,742,201 |  | 5,016,612 | 84,457,881 |
| Redemption of redeemable participating shares during the financial year |  | 	(11,843,177)	 | (5,525,614) |  | 	(20,943,078)	 | (15,733) |  | 	(66,656,609)	 | (5,707,431) |
| Net increase/(decrease) in net assets resulting from share transactions |  | 	15,461,855	 | 31,919,328 |  | 	(2,468,048)	 | 21,726,468 |  | 	(61,639,997)	 | 78,750,450 |
| Increase/(decrease) in net assets attributable to holders of redeemable participating shares |  | 334,182 | (983,204) |  | (146,994) | (104,463) |  | 14,468,051 | (10,542,878) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	46,732,161	 | 30,936,124 |  | 	19,006,963	 | 21,622,005 |  | 	21,035,626	 | 68,207,572 |

a 
Launched on 5 December 2019. 
b 
Launched on 22 January 2020. 
c 
Launched on 11 February 2020.
The accompanying notes form an integral part of the financial statements.
|  |  |  |  | Morgan Stanley Alpha Tracker |  | Abante 80% Pr | oteccion |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  |  | Zebra Kante™ | 80 Protect d |  | UCITS Fu | nd e |  | Creciente | Fund 7 |
|  |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |
| Notes | US$ | US$ |  | US$ | US$ |  | € | € |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | – | – |  | – | – |  | – | 383,215 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | 6,086,555 | – |  | 20,000,000 | – |  | – | – |
| Redemption of redeemable participating shares during the financial year |  | 	(2,000,000)	 | – |  | 	–	 | – |  | 	–	 | (348,964) |
| Net increase/(decrease) in net assets resulting from share transactions |  | 	4,086,555	 | – |  | 	20,000,000	 | – |  | 	–	 | (348,964) |
| Increase/(decrease) in net assets attributable to holders of redeemable participating shares |  | 98,145 | – |  | 152,567 | – |  | – | (34,251) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	4,184,700	 | – |  | 	20,152,567	 | – |  | 	–	 | – |

d 
Launched on 25 March 2021. 
e 
Launched on 18 June 2021. 
7 
Terminated on 31 July 2020.
The accompanying notes form an integral part of the financial statements.
| Cube Global Cross Asset	Smartfund 80% Protected UCITS Fund 8	 Investcorp Geo-Risk Fund 9	 Growth Fund – C 10 |
| --- |
|  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financial 31 July 2021 | year ended 31 July 2020 |
| Notes | € | € |  | US$ | US$ |  | £ | £ |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | – | 889,204 |  | – | 43,905,593 |  | – | 1,151,433 |
| Share transactions |  |  |  |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | – | – |  | – | 28,600,170 |  | – | 50,919 |
| Redemption of redeemable participating shares during the financial year |  | 	–	 | (877,186) |  | 	–	 | (69,848,355) |  | 	–	 | (1,144,367) |
| Net decrease in net assets resulting from share transactions |  | 	–	 | (877,186) |  | 	–	 | (41,248,185) |  | 	–	 | (1,093,448) |
| Decrease in net assets attributable to holders of redeemable participating shares |  | – | (12,018) |  | – | (2,657,408) |  | – | (57,985) |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	–	 | – |  | 	–	 | – |  | 	–	 | – |

8 
Terminated on 11 October 2019. 
9 
Terminated on 29 April 2020. 
10 
Terminated on 7 July 2020.
The accompanying notes form an integral part of the financial statements.
|  |  | Smartfund 80% Balanced Fu | Protected nd – C 11 |  | Total FundLogic p.l.c | Alternatives . |
| --- | --- | --- | --- | --- | --- | --- |
|  | For the financial 31 July 2021 | year ended 31 July 2020 |  | For the financia 31 July 2021 | l year ended 31 July 2020 |
| Notes | £ | £ |  | US$ | US$ |
| Net assets attributable to holders of redeemable shares at the beginning of the financial year |  | – | 1,153,921 |  | 2,800,413,534 | 3,526,131,900 |
| Share transactions |  |  |  |  |  |  |
| Issue of redeemable participating shares during the financial year |  | – | 3,125 |  | 439,015,547 | 1,237,021,783 |
| Redemption of redeemable participating shares during the financial year |  | 	–	 | (1,120,359) |  |  (1,402,892,056)  | (1,952,459,946) |
| Net decrease in net assets resulting from share transactions |  | 	–	 | (1,117,234) |  | 	(963,876,509)	 | (715,438,163) |
| (Decrease)/increase in net assets attributable to holders of redeemable participating shares |  | – | (36,687) |  | 356,067,638 | (121,556,644) |
| Foreign exchange adjustments on aggregation |  | – | – |  | 34,143,992 | 111,276,440 |
| Net assets attributable to holders of redeemable shares at the end of the financial year | 10 | 	–	 | – |  | 	2,226,748,655	 | 2,800,413,534 |

11 
Terminated on 7 July 2020.
The accompanying notes form an integral part of the financial statements.

Translation (ENDE, 2021-07-31):
# Aufstellung der Veränderungen des den Inhabern rückzahlbarer, gewinnberechtigter Anteile zuzurechnenden Nettovermögens (Fortsetzung)
Smartfund 80 % Protected Balanced Fund – C
11
Für das Geschäftsjahr zum
Summe FundLogic Alternatives p.l.c.
Für das Geschäftsjahr zum
31. Juli 2021	31. Juli 2020	31. Juli 2021	31. Juli 2020 Anm.	GBP		GBP		USD		USD
Den Inhabern rückzahlbarer, gewinnberechtigter Anteile zuzurechnendes Nettovermögen zum
Anfang des Geschäftsjahres	–	1.153.921	2.800.413.534	3.526.131.900
Anteilstransaktionen
Ausgabe rückzahlbarer, gewinnberechtigter Anteile
während des Geschäftsjahres	–	3.125	439.015.547	1.237.021.783 Rücknahme von rückzahlbaren, gewinnberechtigten
Anteilen während des Geschäftsjahres		–	(1.120.359) (1.402.892.056) (1.952.459.946)
Nettorückgang des Nettovermögens durch
Anteilstransaktionen		–	(1.117.234)	(963.876.509)	(715.438.163)
(Abnahme)/Zunahme des Nettovermögens, das Inhabern rückzahlbarer, gewinnberechtigter Anteile
| zuzurechnen ist | –	(36.687) | 356.067.638 | (121.556.644) |
| --- | --- | --- | --- |
| Wechselkursanpassungen auf Gesamtsumme | –	– | 34.143.992 | 111.276.440 |
| Den Inhabern rückzahlbarer, gewinnberechtigter Anteile zuzurechnendes Nettovermögen zum Ende des Geschäftsjahres | 10 | 	–	– |  | 	2.226.748.655	2.800.413.534 |
| 11  Aufgelöst am 7. Juli 2020. |  |  |  |  |

Die beigefügten Anmerkungen sind ein wesentlicher Bestandteil dieses Abschlusses.