# OYSTER
## - US Core Plus

### Financial Statements as at 31/12/2021

#### Statement of net assets as at 31/12/2021
Expressed in USD
| Assets |  | 145,723,224.94 |
| --- | --- | --- |
| Securities portfolio at market value | Note 2 | 142,949,379.83 |
| Unrealised loss on the securities portfolio |  | (2,897,582.55) |
| Cash at banks and liquidities |  | 1,207,168.61 |
| Interest receivable | Note 2 | 1,311,087.38 |
| Unrealised profit on forward foreign exchange contracts | Note 2 | 255,589.12 |
| Liabilities |  | 127,486.33 |
| Management fees payable | Note 3 | 64,694.27 |
| Other liabilities |  | 62,792.06 |
| Net asset value |  | 145,595,738.61 |


#### Statement of operations and changes in net assets from 01/01/2021 to 31/12/2021
Expressed in USD
| Income |  | 5,209,300.18 |
| --- | --- | --- |
| Net interest on bonds |  | 5,209,297.90 |
| Bank interest on cash account |  | 2.28 |
| Expenses |  | 1,371,229.64 |
| Management fees and Management Company fees | Note 3 | 756,781.80 |
| Depositary fees | Note 6 | 16,252.04 |
| Taxe d'abonnement | Note 5 | 42,443.26 |
| Administrative expenses | Note 3 | 296,122.35 |
| Bank interest |  | 29,765.86 |
| Legal fees |  | 29,687.20 |
| Transaction fees | Note 8 | 4,273.20 |
| Other expenses | Note 10 | 195,903.93 |
| Net income from investments |  | 3,838,070.54 |
| Net realised profit / loss on: - sales of investment securities | Note 2 | 83,674.77 |
| - forward foreign exchange contracts | Note 2 | (2,210,540.44) |
| - foreign exchange | Note 2 | (255,440.61) |
| Net realised profit |  | 1,455,764.26 |
| Movement in net unrealised appreciation / depreciation on: - investments |  | (5,620,945.51) |
| - forward foreign exchange contracts |  | 96,612.71 |
| Decrease in net assets as a result of operations |  | (4,068,568.54) |
| Subscription capitalisation shares |  | 43,600,148.36 |
| Redemption capitalisation shares |  | (38,605,668.43) |
| Increase in net assets |  | 925,911.39 |
| Net assets at the beginning of the year |  | 144,669,827.22 |
| Net assets at the end of the year |  | 145,595,738.61 |


#### Statistics
|  | Year ending as at: | 31/12/2021 | 31/12/2020 | 31/12/2019 |
| --- | --- | --- | --- | --- |
| Total Net Assets | USD | 145,595,738.61 | 144,669,827.22 | 99,709,626.04 |
| C - EUR - HP - Capitalisation Number of shares |  | 28,086.528 | 24,694.149 | 0.000 |
| Net asset value per share | EUR | 150.16 | 153.90 | 0.00 |
| C - USD - Capitalisation Number of shares |  | 13,842.044 | 64,992.484 | 78,120.873 |
| Net asset value per share | USD | 181.36 | 184.48 | 173.03 |
| I M - EUR - HP - Capitalisation (formerly I - EUR - HP - Capitalisation) |
| Number of shares |  | 24,980.219 | 13,316.630 | 0.000 |
| Net asset value per share | EUR | 1,011.02 | 1,029.28 | 0.00 |
| I M - USD - Capitalisation (formerly I - USD - Capitalisation) |
| Number of shares |  | 38,053.319 | 40,891.710 | 39,410.000 |
| Net asset value per share | USD | 1,254.74 | 1,267.14 | 1,181.93 |
| I - USD 2 - Capitalisation Number of shares |  | 1,973.914 | 0.000 | 0.000 |
| Net asset value per share | USD | 990.62 | 0.00 | 0.00 |
| R - USD - Capitalisation Number of shares |  | 322,989.097 | 316,981.124 | 226,232.124 |
| Net asset value per share | USD | 185.35 | 187.53 | 175.10 |

Changes in number of shares outstanding from 01/01/2021 to 31/12/2021
|  | Shares outstanding as at 01/01/2021 | Shares issued | Shares redeemed | Shares outstanding as at 31/12/2021 |
| --- | --- | --- | --- | --- |
| C - EUR - HP - Capitalisation | 24,694.149 | 4,022.378 | 629.999 | 28,086.528 |
| C - USD - Capitalisation | 64,992.484 | 6,621.100 | 57,771.540 | 13,842.044 |
| I M - EUR - HP - Capitalisation (formerly I - EUR - HP - Capitalisation) | 13,316.630 | 17,908.788 | 6,245.199 | 24,980.219 |
| I M - USD - Capitalisation (formerly I - USD - Capitalisation) | 40,891.710 | 8,153.799 | 10,992.190 | 38,053.319 |
| I - USD 2 - Capitalisation | 0.000 | 2,043.576 | 69.662 | 1,973.914 |
| R - USD - Capitalisation | 316,981.124 | 41,058.000 | 35,050.027 | 322,989.097 |

| Quantity	Denomination	Quotation	Cost price currency | Market value | % of net assets |
| --- | --- | --- |
| Transferable securities admitted to an official stock exchange listing and/or dealt in on another regulated market	 145,846,962.38 | 142,949,379.83 | 98.18 |
| Bonds	 145,846,962.38 | 142,949,379.83 | 98.18 |
| United States of America	 145,846,962.38 | 142,949,379.83 | 98.18 |

| 2,916,000 ALLEGION US HOLDING 3.20 17-24 01/10S | USD | 3,094,637.08 | 3,035,041.03 | 2.08 |
| --- | --- | --- | --- | --- |
| 555,000 ALLEGION US HOLDING 3.55 17-27 01/10S | USD | 588,993.75 | 589,327.97 | 0.40 |
| 2,067,000 ALTRIA GROUP INC 4.40 19-26 14/02S | USD | 2,394,695.31 | 2,276,998.94 | 1.56 |
| 440,000 AMC NETWORKS INC  4.25 21-29 15/02S | USD | 433,400.00 | 438,046.40 | 0.30 |
| 2,263,000 AMC NETWORKS INC  4.75 17-25 01/08S | USD | 2,288,703.00 | 2,313,883.56 | 1.59 |
| 929,000 AMC NETWORKS INC  5.00 16-24 01/04S | USD | 939,749.81 | 936,942.95 | 0.64 |
| 3,098,000 AMERICAN TOWER	3.375 16-26 15/10S | USD | 3,436,921.24 | 3,295,656.12 | 2.26 |
| 242,000 AMERICAN TOWER	4.00 15-25 01/06S | USD | 271,768.42 | 259,268.80 | 0.18 |
| 3,010,000 AT&T INC 4.25 17-27 01/03S | USD | 3,531,151.40 | 3,343,151.31 | 2.30 |
| 1,693,000 BECTON DICKINSON 3.363 17-24 06/06S | USD | 1,792,406.72 | 1,773,700.40 | 1.22 |
| 192,000 BECTON DICKINSON 3.734 14-24 15/12S	USD | 212,304.00 | 204,254.90 | 0.14 |
| 3,388,000 BROADCOM 3.875 18-27 15/01S	USD | 3,707,940.65 | 3,677,699.75 | 2.53 |
| 909,000 CARLISLE COS INC 3.50 17-24 01/12S | USD | 992,435.09 | 959,508.03 | 0.66 |
| 2,327,000 CARLISLE COS INC 3.75 17-27 16/11S | USD | 2,534,289.16 | 2,514,807.28 | 1.73 |
| 644,000 CARRIER GLOBAL CORPO 2.242 20-25 15/08S | USD | 678,078.12 | 660,174.19 | 0.45 |
| 2,835,000 CARRIER GLOBAL CORPO 2.493 20-27 15/08S | USD | 3,035,290.32 | 2,916,331.04 | 2.00 |
| 1,912,000 CDK GLOBAL INC	4.875 18-27 01/06S | USD | 2,015,160.25 | 1,981,071.00 | 1.36 |
| 1,591,000 CDK GLOBAL INC	5.2500 19-29 15/05S | USD | 1,734,349.10 | 1,688,774.90 | 1.16 |
| 497,000 CDW LLC CDW FINANCE 3.25 20-29 15/02S | USD | 506,691.50 | 502,151.40 | 0.34 |
| 322,000 CDW LLC CDW FINANCE 4.1250 20-25 01/05S | USD | 335,282.50 | 331,194.71 | 0.23 |
| 2,957,000 CDW LLC CDW FINANCE 4.25 19-28 01/04S | USD | 3,025,035.30 | 3,057,345.80 | 2.10 |
| 283,000 CDW LLC CDW FINANCE 5.50 14-24 01/12S | USD | 318,375.00 | 310,391.57 | 0.21 |
| 3,649,000 CENTURYLINK INC 7.50 16-24 01/04S | USD | 4,048,825.52 | 4,000,033.80 | 2.75 |
| 3,096,000 CITRIX SYSTEMS 4.50	17-27 01/12S | USD | 3,563,795.44 | 3,365,272.12 | 2.31 |
| 3,315,000 CONAGRA BRANDS INC  4.3 18-24 01/05S | USD | 3,695,871.69 | 3,529,937.31 | 2.42 |
| 3,248,000 DISCOVERY COMMUNIC 3.95 17-28 20/03S | USD | 3,643,039.92 | 3,535,381.09 | 2.43 |
| 185,000 DISCOVERY COMMUNIC 3.95 19-25 15/06S | USD | 203,618.40 | 197,282.54 | 0.14 |
| 3,354,000 DOLLAR TREE	4.2000 18-28 15/05S | USD | 3,899,136.36 | 3,743,760.96 | 2.57 |
| 2,494,000 FORTUNE BRANDS HOME 4.00 18-23 21/09 | USD | 2,722,899.07 | 2,614,092.34 | 1.80 |
| 660,000 FORTUNE BRANDS HOME 4.00 15-25 15/06S | USD | 745,407.00 | 708,430.73 | 0.49 |
| 2,224,000 GLOBAL PAYMENTS	2.65 19-25 15/02S | USD | 2,356,026.56 | 2,288,074.33 | 1.57 |
| 2,813,000 HCA INC 5.6250 18-28 01/09S | USD | 3,310,678.75 | 3,291,688.21 | 2.26 |
| 3,312,000 HP INC 3 20-27 17/06S | USD | 3,473,742.03 | 3,487,580.38 | 2.40 |
| 3,134,000 KLA TENCOR	4.65 14-24 01/11S | USD | 3,602,188.26 | 3,400,472.11 | 2.34 |
| 2,796,000 KRAFT HEINZ FOODS CO 3.00 16-26 01/06S | USD | 2,873,141.64 | 2,928,681.38 | 2.01 |
| 688,000 KRAFT HEINZ FOODS CO 3.875 21-27 15/05S | USD | 749,920.00 | 744,407.88 | 0.51 |
| 3,459,000 MICROCHIP TECHNOLOGY 4.25 20-25 01/09S | USD | 3,598,511.25 | 3,593,293.94 | 2.47 |
| 3,575,000 MOLSON COORS	3.00 16-26 15/07S | USD | 3,861,529.66 | 3,748,066.11 | 2.57 |
| 2,975,000 MOTOROLA INC	4.60 18-28 23/02S | USD | 3,378,926.48 | 3,364,013.97 | 2.31 |
| 111,000 MOTOROLA SOLUTIONS  4.00 14-24 01/09S | USD | 122,474.07 | 118,321.38 | 0.08 |
| 3,313,000 ORACLE CORP	2.3 21-28 25/03S | USD | 3,360,929.55 | 3,306,682.14 | 2.27 |
| 3,262,000 QORVO INC	4.375 20-29 15/10S | USD | 3,540,310.00 | 3,467,098.25 | 2.38 |
| 3,131,000 QVC INC	4.45 14-25 15/02S | USD | 3,071,577.39 | 3,306,508.21 | 2.27 |
| 220,000 QVC INC	4.7500 20-27 15/02S | USD | 211,200.00 | 226,300.80 | 0.16 |
| 117,000 QVC INC	4.85 14-24 01/04S | USD | 117,567.45 | 125,013.33 | 0.09 |
| 3,448,000 REYNOLDS AMERICAN  4.45 15-25 12/06S | USD | 3,890,033.56 | 3,725,848.46 | 2.56 |
| 1,509,000 SBA COMMUNICATIONS 3.125 21-29 01/02S | USD | 1,456,599.45 | 1,450,963.86 | 1.00 |
| 2,461,000 SBA COMMUNICATIONS 3.875 20-27 15/02S | USD | 2,537,790.00 | 2,538,090.82 | 1.74 |
| 3,490,000 SERVICE CORPORATION 5.125 19-29 01/06S | USD | 3,862,947.50 | 3,747,963.35 | 2.57 |
| 3,576,000 STEEL DYNAMICS INC 2.4 20-25 05/06S | USD | 3,715,503.30 | 3,663,087.04 | 2.52 |
| 3,870,000 TEGNA INC	4.625 20-28 15/03S | USD | 4,011,419.38 | 3,919,787.55 | 2.69 |
| 988,000 TOTAL SYSTEM SERVICES 4.80 16-26 01/04S | USD | 1,160,917.89 | 1,098,456.52 | 0.75 |
| 2,972,000 UNITED RENTALS NORTH 5.5 16-27 15/05S | USD | 3,129,420.00 | 3,094,416.68 | 2.13 |
| 5,773,000 UNITED STATES 0.7500 21-26 31/03S | USD | 5,710,759.84 | 5,666,785.81 | 3.90 |
| 2,779,000 VERISK ANALYTICS INC 4.00 15-25 15/06S | USD | 3,177,397.44 | 2,989,403.09 | 2.05 |
| 3,002,000 VERIZON COMMUNICATION 4.125 17-27 16/03S | USD | 3,535,201.81 | 3,339,362.06 | 2.29 |
| 1,601,000 WABTEC	4.4000 18-24 15/03S | USD | 1,724,597.20 | 1,694,728.46 | 1.16 |
| 3,447,000 WESTERN DIGITAL CORP 4.75 18-26 15/02S | USD | 3,635,669.22 | 3,770,380.30 | 2.59 |
| 3,251,000 WILLIS NORTH AMERI 3.6 17-24 15/05S | USD | 3,523,368.78 | 3,407,508.34 | 2.34 |
| 2,568,000 ZIMMER BIOMET HOLDIN 3.05 20-26 20/03S | USD | 2,756,362.80 | 2,686,482.13 | 1.85 |

Total securities portfolio
145,846,962.38
142,949,379.83	98.18
Quantity	Denomination	Quotation
currency
Cost price
Market value
% of net assets
| Cash at bank/(bank liabilities) | 1,207,168.61 | 0.83 |
| --- | --- | --- |
| Other net assets/(liabilities) | 1,439,190.17 | 0.99 |
| Total net assets | 145,595,738.61 | 100.00 |

Translation (ENDE, 2021-12-31):
# OYSTER
## Konsolidiert
OYSTER
Konsolidiert

###### Nettovermögensaufstellung zum 31/12/2021
Zusammensetzung des Nettofondsvermögens zum 31/12/2021
Ausgedrückt in USD
| Aktiva |  | 2.050.741.605,53 |
| --- | --- | --- |
| Wertpapierbestand zum Marktwert | Erläut. 2 | 1.958.135.042,67 |
| Nicht realisierter Gewinn auf das Anlagevermögen |  | 81.393.966,12 |
| Gekaufte Optionen zum Marktwert | Erläut. 2 | 131.521,00 |
| Bareinlagen bei Banken und Barmittel |  | 73.437.184,67 |
| Festgelder |  | 4.100.000,00 |
| Zinsguthaben | Erläut. 2 | 5.067.813,26 |
| Forderungen aus Verkauf von Wertpapieren |  | 188.818,30 |
| Forderungen aus Zeichnungen |  | 2.706.660,28 |
| Guthaben aus Dividenden | Erläut. 2 | 545.924,57 |
| Nicht realisierter Nettogewinn aus Devisentermingeschäften | Erläut. 2 | 3.881.755,54 |
| Nicht realisierter Nettogewinn aus Termingeschäften | Erläut. 2 | 846.885,49 |
| Forderungen aus Spot Austausch |  | 12.931,12 |
| Sonstige Aktiva |  | 1.687.068,63 |
| Passiva |  | 9.477.276,52 |
| Verbindlichkeiten aus Kauf von Wertpapieren |  | 5.017.942,77 |
| Leistungsabhängige Gebühren | Erläut. 4 | 1.524,46 |
| Verbindlichkeiten aus Rücknahmen | Erläut. 2 | 1.750.857,62 |
| Anfallende Verwaltungsgebühr | Erläut. 3 | 1.677.572,56 |
| Verbindlichkeiten aus Spot Austausch |  | 12.947,65 |
| Sonstige Passiva |  | 1.016.431,46 |
| Nettovermögen |  | 2.041.264.329,01 |

Die beiliegenden Erläuterungen sind integraler Bestandteil dieses Berichtes
OYSTER
Konsolidiert
Ertrags- und Aufwandsrechnung sowie Entwicklung des Nettofondsvermögens vom 01/01/2021 bis 31/12/2021
Ausgedrückt in USD
| Erträge |  | 36.213.306,16 |
| --- | --- | --- |
| Nettodividenden | Erläut. 2 | 18.676.019,10 |
| Nettozinsen auf Renten |  | 17.395.174,76 |
| Bankzinsen bei Sicht |  | 35.441,15 |
| Zinsen aus Termineinlagen |  | 4.281,01 |
| Sonstige Erträge aus Finanzgeschäften | Erläut. 7 | 52.044,78 |
| Sonstige Erträge |  | 50.345,36 |
| Ausgaben |  | 29.879.061,57 |
| Verwaltungsgebühr | Erläut. 3 | 19.018.802,28 |
| Depotbankgebühren | Erläut. 6 | 262.413,91 |
| Taxe d'abonnement | Erläut. 5 | 583.375,17 |
| Verwaltungsaufwendungen | Erläut. 3 | 3.843.138,75 |
| Erfolgsabhängige Prämie | Erläut. 4 | 1.524,46 |
| Bankzinsen |  | 414.709,41 |
| Rechtskosten |  | 472.111,27 |
| Transaktionskosten | Erläut. 8 | 1.603.310,53 |
| Sonstige Ausgaben | Erläut. 10 | 3.679.675,79 |
| Erträge aus Anlagen |  | 6.334.244,59 |
| Realisierter Nettogewinn / -verlust aus: - Verkäufen von Wertpapieranlagen | Erläut. 2 | 109.941.905,35 |
| - Optionen | Erläut. 2 | (3.706.655,77) |
| - Devisentermingeschäften | Erläut. 2 | (18.156.636,93) |
| - Termingeschäften | Erläut. 2 | 8.994.051,18 |
| - Devisengeschäften | Erläut. 2 | (1.151.702,20) |
| Realisierter Nettogewinn |  | 102.255.206,22 |
| Veränderung des nicht realisierten Nettogewinns / -verlustes aus: - Wertpapieranlagen |  | 15.589.203,08 |
| - Optionen |  | (371.743,37) |
| - Devisentermingeschäften |  | 853.641,16 |
| - Termingeschäften |  | 47.867,31 |
| Nettovermögenszunahme durch Geschäftstätigkeit |  | 118.374.174,40 |
| Dividendenausschüttungen | Erläut. 9 | (222.465,43) |
| Zeichnung von thesaurierenden Aktien |  | 714.388.798,14 |
| Zeichnungen von Anteilen mit Ausschüttung |  | 15.219.191,90 |
| Rücknahme von thesaurierenden Aktien |  | (530.275.979,33) |
| Rücknahmen von Anteilen mit Ausschüttung |  | (18.860.525,19) |
| Erhöhung des Nettovermögens | 298.623.194,49 |
| Neubewertung der Eröffnungsbilanz | (106.911.213,48) |
| Nettovermögen zu Beginn des Jahres | 1.849.552.348,00 |
| Nettovermögen am Ende des Jahres | 2.041.264.329,01 |