# Comgest Growth Europe S
#### SCHEDULE OF INVESTMENTS
As at 31 December 2019 (expressed in EUR)
Acquisition	Fair Value		% Net cost EUR		EUR	Assets
| Transferable securities admitted to an official stock exchange listing |   24,442,016	32,078,491	95.37  |
| --- | --- |
| Financial assets at fair value through profit or loss |   24,442,016	32,078,491	95.37  |
| Cash and other net assets |   1,557,130	4.63  |

Total net assets attributable to holders of redeemable participating shares	33,635,621	100.00
% of Total Assets
Transferable securities admitted to an official stock exchange listing93.05
| Comgest Growth Europe Opportunities |  |
| --- | --- |
| SCHEDULE OF INVESTMENTS As at 31 December 2019 (expressed in EUR) |
| Security | Quantity/ Face value | Currency | Acquisition cost EUR | Fair Value EUR | % Net Assets |
| Financial assets at fair value through profit and loss |  |  |  |  |  |

Transferable securities admitted to an official stock exchange listing Equity securities
Belgium
Non-ferrous metals
| 333,087 | EUR | 14,325,696 | 14,442,652 | 1.59 |
| --- | --- | --- | --- | --- |
|  |  | 14,325,696 | 14,442,652 | 1.59 |
|  |  |  |  |  |
|  |  | 14,325,696 | 14,442,652 | 1.59 |

Umicore SA
Total Belgium
Denmark
Internet software
| Netcompany Group A/S | 381,372 | DKK | 11,729,838 | 16,178,703 | 1.78 |
| --- | --- | --- | --- | --- | --- |
| SimCorp A/S | 198,015 | DKK | 11,210,785 | 20,073,188 | 2.21 |
|  |  |  | 22,940,623 | 36,251,891 | 3.99 |
| News transmission GN Store Nord A/S | 1,001,538 | DKK | 33,647,670 | 41,991,700 | 4.62 |
|  |  |  | 33,647,670 | 41,991,700 | 4.62 |
| Pharmaceuticals and cosmetics Ambu A/S | 2,060,092 | DKK | 34,044,827 | 30,794,660 | 3.39 |
|  |  |  | 34,044,827 | 30,794,660 | 3.39 |
| Transportation DSV PANALPINA A/S | 142,236 | DKK | 9,651,279 | 14,614,813 | 1.61 |
|  |  |  | 9,651,279 | 14,614,813 | 1.61 |
|  |  |  |  |  |  |
| Total Denmark |  |  | 100,284,399 | 123,653,064 | 13.61 |
| France |  |  |  |  |  |
| Aerospace technology Safran SA | 184,421 | EUR | 23,368,251 | 25,385,551 | 2.80 |
|  |  |  | 23,368,251 | 25,385,551 | 2.80 |

Translation (ENDE, 2019-12-31):
# Comgest Growth Europe S
WESENTLICHE BESTANDSVERÄNDERUNGEN im Geschäftsjahr zum 31. Dezember 2019
| Verkäufe |  |  |  |
| --- | --- | --- | --- |
| Prozentualer Anteil |
| Wertpapier | Stück | Betrag (EUR) | Verkäufe |
| Coloplast A/S – B-Aktien | 6.322 | 603.969 | 8,16 |
| B&M European Value Retail SA | 136.468 | 588.953 | 7,96 |
| Sika AG | 3.831 | 562.181 | 7,60 |
| Reckitt Benckiser Group PLC | 7.004 | 501.246 | 6,77 |
| L'Oreal SA | 1.897 | 460.316 | 6,22 |
| Industria de Diseno Textil SA | 17.182 | 407.606 | 5,51 |
| SAP SE | 3.562 | 343.103 | 4,64 |
| Ferrari NV | 2.308 | 338.822 | 4,58 |
| Geberit AG | 963 | 335.872 | 4,54 |
| ASOS PLC | 7.981 | 286.007 | 3,86 |
| Dassault Systèmes SE | 2.017 | 278.636 | 3,76 |
| Chocoladefabriken Lindt & Spruengli AG | 50 | 273.550 | 3,70 |
| Fielmann AG | 3.961 | 265.004 | 3,58 |
| Assa Abloy AB | 13.153 | 251.060 | 3,39 |
| SimCorp A/S | 2.854 | 244.333 | 3,30 |
| Amadeus IT Group SA – A-Aktien | 3.380 | 239.244 | 3,23 |
| Experian PLC | 8.600 | 229.046 | 3,09 |
| EssilorLuxottica SA | 1.660 | 208.036 | 2,81 |
| Sartorius Stedim Biotech | 1.303 | 177.961 | 2,40 |
| Halma PLC | 5.935 | 130.950 | 1,77 |
| Associated British Foods PLC | 3.899 | 114.324 | 1,54 |
| Genmab A/S | 551 | 86.617 | 1,17 |
| Nestle SA | 928 | 81.654 | 1,10 |