# Comgest Growth America
#### SCHEDULE OF INVESTMENTS
As at 31 December 2019 (expressed in USD)
Acquisition	Fair Value		% Net cost USD		USD	Assets
Financial assets at fair value through profit or loss	 165,253,482	217,304,559	97.73 
Total financial derivative instrument (Note 6)	9,114	-
Cash and other net assets	5,048,444	2.27  
Total net assets attributable to holders of redeemable participating shares	 222,362,117	100.00 
% of Total Assets
Transferable securities admitted to an official stock exchange listing96.83
Derivative instrument0.01
| Comgest Growth Japan |  |
| --- | --- |
| SCHEDULE OF INVESTMENTS As at 31 December 2019 (expressed in JPY) |
| Security | Quantity/ Face value	Currency | Acquisition cost JPY | Fair Value JPY | % Net Assets |
| Financial assets at fair value through profit and loss |  |  |  |  |

Transferable securities admitted to an official stock exchange listing Equity securities
Japan
Automobile industry
| Suzuki Motor Corp | 810,000 | JPY | 4,220,039,680 | 3,699,270,000 | 1.50 |
| --- | --- | --- | --- | --- | --- |
|  |  |  | 4,220,039,680 | 3,699,270,000 | 1.50 |
| Chemicals Shin-Etsu Chemical Co Ltd | 684,000 | JPY | 6,880,211,255 | 8,249,040,000 | 3.34 |

6,880,211,255	8,249,040,0003.34
Construction and building material
| MonotaRO Co Ltd	1,945,000 | JPY | 3,868,252,822 | 5,685,235,000 | 2.30 |
| --- | --- | --- | --- | --- |
|  |  |  | 3,868,252,822 | 5,685,235,000 | 2.30 |
| Consumer goods Pigeon Corp | 1,660,700 | JPY | 7,139,001,639 | 6,667,710,500 | 2.70 |
| Yamaha Corp | 732,900 | JPY | 3,918,706,199 | 4,456,032,000 | 1.80 |
|  |  |  | 11,057,707,838 | 11,123,742,500 | 4.50 |
| Electronic semiconductor Disco Corp | 242,400 | JPY | 4,771,062,511 | 6,278,160,000 | 2.54 |
| Hoya Corp | 709,100 | JPY | 5,100,998,037 | 7,410,095,000 | 3.00 |
| Keyence Corp | 207,160 | JPY | 5,890,827,787 | 7,973,588,400 | 3.23 |
| Murata Manufacturing Co Ltd | 1,326,300 | JPY | 7,142,002,065 | 8,947,219,800 | 3.62 |
| Nidec Corp | 372,800 | JPY | 5,239,184,219 | 5,593,864,000 | 2.26 |
|  |  |  | 28,144,074,619 | 36,202,927,200 | 14.65 |
| Electronics and electrical equipment FANUC Corp | 271,800 | JPY | 6,111,143,507 | 5,525,694,000 | 2.24 |
| Hamamatsu Photonics KK | 1,295,800 | JPY | 5,148,047,668 | 5,824,621,000 | 2.36 |
| Makita Corp | 613,100 | JPY | 2,690,285,552 | 2,335,911,000 | 0.94 |
|  |  |  | 13,949,476,727 | 13,686,226,000 | 5.54 |
| Food and distilleries Yakult Honsha Co Ltd | 599,100 | JPY | 4,061,985,282 | 3,612,573,000 | 1.46 |
|  |  |  | 4,061,985,282 | 3,612,573,000 | 1.46 |

Translation (ENDE, 2019-12-31):
# Comgest Growth America
WESENTLICHE BESTANDSVERÄNDERUNGEN im Geschäftsjahr zum 31. Dezember 2019
| Verkäufe |  |  |  |
| --- | --- | --- | --- |
|  |  |  | Prozentualer Anteil |
| Wertpapier | Stück | Betrag (USD) | Verkäufe |
| Costco Wholesale Corp | 15.500 | 4.185.955 | 9,37 |
| Ecolab Inc | 19.000 | 3.599.130 | 8,06 |
| Church & Dwight Co Inc | 49.000 | 3.504.341 | 7,84 |
| Verisk Analytics Inc | 21.100 | 3.248.048 | 7,27 |
| Equifax Inc | 22.000 | 2.991.715 | 6,70 |
| JB Hunt Transport Services Inc | 24.500 | 2.729.014 | 6,11 |
| Walmart Inc | 25.000 | 2.664.982 | 5,96 |
| Alphabet Inc - A Shares | 2.400 | 2.622.517 | 5,87 |
| Biogen Inc | 10.000 | 2.379.476 | 5,33 |
| Estee Lauder Cos Inc | 17.000 | 2.139.937 | 4,79 |
| Amazon.com Inc | 1.200 | 2.082.449 | 4,66 |
| Omnicom Group Inc | 27.000 | 1.995.884 | 4,47 |
| Activision Blizzard Inc | 31.100 | 1.704.035 | 3,81 |
| Cisco Systems Inc | 35.200 | 1.524.020 | 3,41 |
| Aramark | 40.000 | 1.500.681 | 3,36 |
| Nevro Corp | 29.800 | 1.430.051 | 3,20 |
| Ulta Beauty Inc | 3.400 | 1.196.212 | 2,68 |
| Avery Dennison Corp | 9.000 | 1.023.450 | 2,29 |
| Apple Inc | 5.000 | 982.839 | 2,20 |
| Paychex Inc | 11.500 | 804.173 | 1,80 |