# Comgest Growth Europe S
## SCHEDULE OF INVESTMENTS
As at 30 June 2020 (expressed in EUR)
| Quantity/ Security	Face value | Currency | Acquisition cost EUR | Fair Value EUR | % Net Assets |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Equity securities |  | 25,973,330 | 33,369,977 | 95.42 |

| Transferable securities admitted to an official stock exchange listing | 25,973,330 | 33,369,977 | 95.42 |
| --- | --- | --- | --- |
|  |  |  |  |
| Financial assets at fair value through profit or loss | 25,973,330 | 33,369,977 | 95.42 |

Cash and other net assets	 1,601,109	4.58 
Total net assets attributable to holders of redeemable participating shares	 34,971,086	100.00 
% of Total Assets
Transferable securities admitted to an official stock exchange listing	94.91
| Comgest Growth Europe Opportunities |  |
| --- | --- |
| SCHEDULE OF INVESTMENTS As at 30 June 2020 (expressed in EUR) |
| Security | Quantity/ Face value | Currency | Acquisition cost EUR | Fair Value EUR | % Net Assets |
| Financia l assets at fair value through profit and loss |  |  |  |  |  |

Transferable securities admitted to an official stock exchange listing Equity securities
Belgium
Non-ferrous metals
|  | Umicore SA | 109,645 | EUR | 4,707,211 | 4,595,222 | 0.45 |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  | 4,707,211 | 4,595,222 | 0.45 |
|  |  |  |  |  |  |
| Total Belgium |  |  |  | 4,707,211 | 4,595,222 | 0.45 |
| Denmark |  |  |  |  |  |  |
| Internet software |
| Netcompany Group A/S | 403,841 | DKK | 12,779,571 | 23,569,907 | 2.29 |
| SimCorp A/S | 274,306 | DKK | 19,268,469 | 26,314,768 | 2.56 |
|  |  |  | 32,048,040 | 49,884,675 | 4.85 |
| News transmission |
| GN Store Nord A/S | 1,046,355 | DKK | 36,523,353 | 49,613,949 | 4.83 |
|  |  |  | 36,523,353 | 49,613,949 | 4.83 |
| Pharmaceuticals and cosmetics |
| Ambu A/S | 907,380 | DKK | 15,250,165 | 25,371,440 | 2.47 |
|  |  |  | 15,250,165 | 25,371,440 | 2.47 |
| Transportation |
|  | DSV PANALPINA A/S | 197,340 | DKK | 14,936,470 | 21,441,299 | 2.09 |
|  |  |  |  | 14,936,470 | 21,441,299 | 2.09 |
|  |  |  |  |  |  |  |
| Total Denmark |  |  |  | 98,758,028 | 146,311,363 | 14.24 |
| Faroe Islands |  |  |  |  |  |  |
| Agriculture and fishing |
| Bakkafrost P/F | 211,828 | NOK | 11,116,527 | 11,837,685 | 1.15 |
|  |  |  | 11,116,527 | 11,837,685 | 1.15 |

Total Faroe Islands	11,116,527	11,837,685	1.15
| Comgest Growth Europe Opportunities |  |
| --- | --- |
| SCHEDULE OF INVESTMENTS |
| As at 30 June 2020 |
| (expressed in EUR) |
|  | Quantity/ |  | Acquisition | Fair Value | % Net |
| Security | Face value | Currency | cost EUR | EUR | Assets |
| France |  |  |  |  |  |
| Aerospace technology |  |  |  |  |  |
| Safran SA | 161,369 | EUR | 19,360,482 | 14,397,342 | 1.40 |
|  |  |  | 19,360,482 | 14,397,342 | 1.40 |
| Healthcare education and social services |  |  |  |  |  |
| Orpea | 361,931 | EUR | 34,711,602 | 37,242,700 | 3.62 |
|  |  |  | 34,711,602 | 37,242,700 | 3.62 |
| Holding and finance companies |  |  |  |  |  |
| SMCP SA | 1,179,508 | EUR | 20,687,437 | 5,095,475 | 0.50 |
|  |  |  | 20,687,437 | 5,095,475 | 0.50 |
| Internet software |  |  |  |  |  |
| Capgemini SE | 388,760 | EUR | 39,565,382 | 39,634,082 | 3.85 |
|  |  |  | 39,565,382 | 39,634,082 | 3.85 |
| News transmission |  |  |  |  |  |
| Teleperformance | 209,590 | EUR | 35,450,233 | 47,346,381 | 4.60 |
|  |  |  | 35,450,233 | 47,346,381 | 4.60 |
| Textile LVMH Moët Hennessy Louis Vuitton SE | 74,973 | EUR | 26,494,146 | 29,276,957 | 2.85 |
|  |  |  | 26,494,146 | 29,276,957 | 2.85 |
|  |  |  |  |  |  |
| Total France |  |  | 176,269,282 | 172,992,937 | 16.82 |
| Germany |  |  |  |  |  |
| Chemicals |  |  |  |  |  |
| Symrise AG | 106,216 | EUR | 9,801,432 | 10,993,356 | 1.07 |
|  |  |  | 9,801,432 | 10,993,356 | 1.07 |
| Electronics and electrical equipment |  |  |  |  |  |
| Dr Hoenle AG | 130,448 | EUR | 10,452,657 | 6,326,728 | 0.62 |
| Varta AG | 159,650 | EUR | 14,749,852 | 15,949,035 | 1.55 |
|  |  |  | 25,202,509 | 22,275,763 | 2.17 |
| Internet software |  |  |  |  |  |
| New Work SE | 48,286 | EUR | 11,849,039 | 13,133,792 | 1.28 |
|  |  |  | 11,849,039 | 13,133,792 | 1.28 |

| Comgest Growth Europe Opportunities |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| SCHEDULE OF INVESTMENTS As at 30 June 2020 (expressed in EUR) |  |  |  |  |  |
| Security | Quantity/ Face value | Currency | Acquisition cost EUR | Fair Value EUR | % Net Assets |
| Mechanics and machinery STRATEC SE | 14,204 | EUR | 822,797 | 1,241,429 | 0.12 |
|  |  |  | 822,797 | 1,241,429 | 0.12 |
| Pharmaceuticals and cosmetics Fresenius SE & Co KGaA | 479,119 | EUR | 23,076,141 | 21,138,730 | 2.06 |
|  |  |  | 23,076,141 | 21,138,730 | 2.06 |
|  |  |  |  |  |  |
| Total Germany |  |  | 70,751,918 | 68,783,070 | 6.70 |
| Ireland |  |  |  |  |  |
| Construction and building material Kingspan Group PLC | 237,342 | EUR | 9,592,506 | 13,611,564 | 1.32 |
|  |  |  | 9,592,506 | 13,611,564 | 1.32 |
| Pharmaceuticals and cosmetics ICON PLC | 267,815 | USD | 29,958,137 | 40,169,269 | 3.91 |
|  |  |  | 29,958,137 | 40,169,269 | 3.91 |
|  |  |  |  |  |  |
| Total Ireland |  |  | 39,550,643 | 53,780,833 | 5.23 |
| Italy |  |  |  |  |  |
| Automobile industry Ferrari NV | 93,726 | EUR | 10,574,729 | 14,232,293 | 1.38 |
|  |  |  | 10,574,729 | 14,232,293 | 1.38 |

Pharmaceuticals and cosmetics
Amplifon SpA	228,145	EUR	3,808,054	5,409,318	0.53
3,808,054	5,409,318	0.53
Textile
Moncler SpA	554,035	EUR	18,321,505	18,859,351	1.83
18,321,505	18,859,351	1.83
Tobacco and spirits
Davide Campari-Milano SpA	2,925,070	EUR	23,457,081	21,938,025	2.13
23,457,081	21,938,025	2.13
Total Italy	56,161,369	60,438,987	5.87
| Comgest Growth Europe Opportunities |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| SCHEDULE OF INVESTMENTS As at 30 June 2020 (expressed in EUR) |  |  |  |  |  |
| Security | Quantity/ Face value | Currency | Acquisition cost EUR | Fair Value EUR | % Net Assets |
| Jersey |  |  |  |  |  |
| Internet software boohoo Group PLC | 4,713,272 | GBP | 11,259,561 | 21,362,879 | 2.08 |
|  |  |  | 11,259,561 | 21,362,879 | 2.08 |
| Transportation Wizz Air Holdings Plc | 791,389 | GBP | 29,817,774 | 29,043,979 | 2.82 |
|  |  |  | 29,817,774 | 29,043,979 | 2.82 |
|  |  |  |  |  |  |
| Total Jersey |  |  | 41,077,335 | 50,406,858 | 4.90 |
| Luxembourg |  |  |  |  |  |
| Holding and finance companies B&M European Value Retail SA | 9,170,465 | GBP | 38,380,515 | 40,102,233 | 3.90 |
|  |  |  | 38,380,515 | 40,102,233 | 3.90 |
| Internet software Solutions 30 SE | 2,125,043 | EUR | 20,782,595 | 27,115,549 | 2.64 |
|  |  |  | 20,782,595 | 27,115,549 | 2.64 |
| Pharmaceuticals and cosmetics Eurofins Scientific SE | 17,148 | EUR | 7,783,525 | 9,578,873 | 0.93 |
|  |  |  | 7,783,525 | 9,578,873 | 0.93 |
|  |  |  |  |  |  |
| Total Luxembourg |  |  | 66,946,635 | 76,796,655 | 7.47 |
| Netherlands |  |  |  |  |  |
| Banks and financial institutions Adyen NV | 46,084 | EUR | 34,014,240 | 59,701,822 | 5.81 |
|  |  |  | 34,014,240 | 59,701,822 | 5.81 |
| Electronic semiconductor ASML Holding NV | 226,617 | EUR | 37,968,798 | 74,081,097 | 7.20 |
|  |  |  | 37,968,798 | 74,081,097 | 7.20 |
| Holding and finance companies TKH Group NV | 147,543 | EUR | 5,117,206 | 5,175,808 | 0.50 |
|  |  |  | 5,117,206 | 5,175,808 | 0.50 |

Translation (ENDE, 2020-06-30):
# Comgest Growth Europe S
WESENTLICHE BESTANDSVERÄNDERUNGEN für den Berichtszeitraum zum 30. Juni 2020
| Käufe |  |  |  |
| --- | --- | --- | --- |
| Prozentualer Anteil |
| Wertpapier | Stück | Betrag (EUR) | Käufe |
| Geberit AG | 1.646 | 665.912 | 12,51 |
| MTU Aero Engines AG | 3.120 | 527.817 | 9,91 |
| Roche Holding AG | 1.348 | 417.378 | 7,84 |
| SimCorp A/S | 3.885 | 321.054 | 6,03 |
| Associated British Foods PLC | 9.115 | 280.386 | 5,27 |
| Amadeus IT Group SA – A-Aktien | 5.363 | 259.234 | 4,87 |
| Adyen NV | 326 | 250.268 | 4,70 |
| Accenture PLC | 1.435 | 232.773 | 4,37 |
| Reckitt Benckiser Group PLC | 2.855 | 214.051 | 4,02 |
| SAP SE | 2.111 | 213.906 | 4,02 |
| Ryanair Holdings PLC | 17.747 | 188.151 | 3,53 |
| Temenos AG | 1.687 | 173.017 | 3,25 |
| Ferrari NV | 1.283 | 168.640 | 3,17 |
| Straumann Holding AG | 183 | 124.988 | 2,35 |
| Nestle SA | 1.221 | 122.630 | 2,30 |
| Novo Nordisk A/S – B-Aktien | 1.959 | 110.658 | 2,08 |
| EssilorLuxottica SA | 841 | 106.098 | 1,99 |
| ASML Holding NV | 373 | 98.038 | 1,84 |
| Industria de Diseno Textil SA | 2.837 | 79.374 | 1,49 |
| Chocoladefabriken Lindt & Spruengli AG | 10 | 76.148 | 1,43 |
| Experian PLC | 2.208 | 65.303 | 1,23 |
| Dassault Systèmes SE | 457 | 65.252 | 1,23 |
| Lonza Group AG | 161 | 61.871 | 1,16 |
| Assa Abloy AB | 2.919 | 58.481 | 1,10 |
| ICON PLC | 377 | 54.020 | 1,01 |
| Sartorius Stedim Biotech | 302 | 53.455 | 1,00 |

| Verkäufe |  |  |  |
| --- | --- | --- | --- |
| Prozentualer Anteil |
| Wertpapier | Stück | Betrag (EUR) | Verkäufe |
| SGS SA | 437 | 921.873 | 18,47 |
| Sartorius Stedim Biotech | 4.121 | 725.376 | 14,54 |
| Coloplast A/S – B-Aktien | 5.104 | 623.853 | 12,50 |
| Roche Holding AG | 902 | 255.760 | 5,13 |
| Genmab A/S | 983 | 253.526 | 5,08 |
| Reckitt Benckiser Group PLC | 3.752 | 234.292 | 4,70 |
| SimCorp A/S | 2.054 | 206.738 | 4,14 |
| Chr Hansen Holding A.S | 2.544 | 173.478 | 3,48 |
| Straumann Holding AG | 199 | 172.542 | 3,46 |
| Sika AG | 1.040 | 170.366 | 3,41 |
| Dassault Systèmes SE | 1.081 | 168.981 | 3,39 |
| Ambu A/S | 5.443 | 153.004 | 3,07 |
| Nestle SA | 789 | 75.962 | 1,52 |
| ASML Holding NV | 242 | 73.461 | 1,47 |
| Novo Nordisk A/S – B-Aktien | 1.266 | 72.884 | 1,46 |
| EssilorLuxottica SA | 543 | 60.798 | 1,22 |
| Accenture PLC | 292 | 51.727 | 1,04 |
| Chocoladefabriken Lindt & Spruengli AG | 7 | 50.117 | 1,00 |
| L'Oreal SA | 190 | 49.556 | 0,99 |
| SAP SE | 420 | 48.017 | 0,96 |