# OYSTER
## - Stable Return

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

#### Statement of net assets as at 31/12/2021
Expressed in USD
| Assets |  | 38,924,327.14 |
| --- | --- | --- |
| Securities portfolio at market value | Note 2 | 26,350,784.08 |
| Unrealised loss on the securities portfolio |  | (7,143.49) |
| Cash at banks and liquidities |  | 7,770,386.56 |
| Time deposits |  | 4,100,000.00 |
| Interest receivable | Note 2 | 3,364.75 |
| Subscriptions receivable |  | 214,472.40 |
| Unrealised profit on forward foreign exchange contracts | Note 2 | 192,638.63 |
| Unrealised profit on financial futures | Note 2 | 255,401.11 |
| Other assets |  | 37,279.61 |
| Liabilities |  | 45,230.34 |
| Management fees payable | Note 3 | 30,200.28 |
| Other liabilities |  | 15,030.06 |
| Net asset value |  | 38,879,096.80 |


#### Statement of operations and changes in net assets from 01/01/2021 to 31/12/2021
Expressed in USD
| Income |  | 27,578.78 |
| --- | --- | --- |
| Net interest on bonds |  | 8,611.61 |
| Bank interest on cash account |  | 6,929.98 |
| Bank interest on time deposits |  | 4,281.01 |
| Other income |  | 7,756.18 |
| Expenses |  | 579,599.35 |
| Management fees and Management Company fees | Note 3 | 329,913.42 |
| Depositary fees | Note 6 | 11,942.60 |
| Taxe d'abonnement | Note 5 | 15,831.70 |
| Administrative expenses | Note 3 | 69,932.11 |
| Bank interest |  | 7,361.96 |
| Legal fees |  | 12,918.30 |
| Transaction fees | Note 8 | 34,387.76 |
| Other expenses | Note 10 | 97,311.50 |
| Net loss from investments |  | (552,020.57) |
| Net realised profit / loss on: - sales of investment securities | Note 2 | 1,023.89 |
| - forward foreign exchange contracts | Note 2 | (1,386,974.07) |
| - financial futures | Note 2 | 2,293,585.99 |
| - foreign exchange | Note 2 | (200,435.73) |
| Net realised profit |  | 155,179.51 |
| Movement in net unrealised appreciation / depreciation on: - investments |  | (11,363.39) |
| - forward foreign exchange contracts |  | 59,642.46 |
| - financial futures |  | (100,172.66) |
| Increase in net assets as a result of operations |  | 103,285.92 |
| Subscription capitalisation shares |  | 17,141,637.78 |
| Redemption capitalisation shares |  | (10,713,985.07) |
| Increase in net assets |  | 6,530,938.63 |
| Net assets at the beginning of the year |  | 32,348,158.17 |
| Net assets at the end of the year |  | 38,879,096.80 |

Statistics
|  | Year ending as at: | 31/12/2021 | 31/12/2020 | 31/12/2019 |
| --- | --- | --- | --- | --- |
| Total Net Assets | USD | 38,879,096.80 | 32,348,158.17 | 33,695,979.47 |
| C - CHF - HP - Capitalisation Number of shares |  | 1,100.002 | 1,270.002 | 0.000 |
| Net asset value per share | CHF | 152.20 | 147.41 | 0.00 |
| C - EUR - HP - Capitalisation Number of shares |  | 40,613.528 | 59,294.917 | 43,272.198 |
| Net asset value per share | EUR | 148.11 | 143.00 | 139.71 |
| I - EUR - HP - Capitalisation Number of shares |  | 0.000 | 54.044 | 1,818.015 |
| Net asset value per share | EUR | 0.00 | 870.39 | 849.67 |
| I - USD - Capitalisation Number of shares |  | 673.500 | 2,687.006 | 19,780.517 |
| Net asset value per share | USD | 1,077.64 | 1,022.82 | 974.29 |
| N - EUR - HP- Capitalisation Number of shares |  | 2,178.349 | 349.043 | 499.734 |
| Net asset value per share | EUR | 121.68 | 118.03 | 115.76 |
| R - CHF - HP - Capitalisation Number of shares |  | 28,811.499 | 15,948.291 | 0.000 |
| Net asset value per share | CHF | 159.70 | 153.41 | 0.00 |
| R - EUR - HP - Capitalisation Number of shares |  | 9,685.491 | 5,293.773 | 1,021.131 |
| Net asset value per share | EUR | 1,002.87 | 961.03 | 932.60 |
| R - USD - Capitalisation Number of shares |  | 79,757.631 | 56,488.917 | 32,710.000 |
| Net asset value per share | USD | 184.71 | 175.48 | 145.82 |

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 - CHF - HP - Capitalisation | 1,270.002 | 0.000 | 170.000 | 1,100.002 |
| C - EUR - HP - Capitalisation | 59,294.917 | 7,612.221 | 26,293.610 | 40,613.528 |
| I - EUR - HP - Capitalisation | 54.044 | 0.000 | 54.044 | 0.000 |
| I - USD - Capitalisation | 2,687.006 | 181.527 | 2,195.033 | 673.500 |
| N - EUR - HP- Capitalisation | 349.043 | 1,829.306 | 0.000 | 2,178.349 |
| R - CHF - HP - Capitalisation | 15,948.291 | 18,166.000 | 5,302.792 | 28,811.499 |
| R - EUR - HP - Capitalisation | 5,293.773 | 5,256.656 | 864.938 | 9,685.491 |

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
R - USD - Capitalisation	56,488.917	32,563.000	9,294.286	79,757.631

#### Securities portfolio as at 31/12/2021
Expressed in USD
Quantity	Denomination	Quotation
currency
Transferable securities admitted to an official stock exchange listing and/or dealt in
Cost price
Market value
% of net assets
on another regulated market
23,957,881.84
23,948,205.74	61.60
| Bonds |  | 23,957,881.84 | 23,948,205.74 | 61.60 |
| --- | --- | --- | --- | --- |
|  | United States of America | 23,957,881.84 | 23,948,205.74 | 61.60 |
| 2,607,000 UNIT STAT OF AMER ZCP 16-06-22 | USD | 2,606,114.01 | 2,605,126.20 | 6.70 |
| 2,622,000 UNIT STAT TREA BIL ZCP 14-07-22 | USD | 2,621,210.23 | 2,619,276.03 | 6.74 |
| 2,609,000 UNIT STAT TREA BIL ZCP 19-05-22 | USD | 2,608,552.78 | 2,607,909.14 | 6.71 |
| 2,612,000 UNIT STAT TREA BIL ZCP 21-04-22 | USD | 2,611,397.68 | 2,611,087.18 | 6.72 |
| 2,618,000 UNIT STAT TREA BIL ZCP 24-02-22 | USD | 2,617,159.38 | 2,617,237.24 | 6.73 |
| 2,615,000 UNIT STAT TREA BIL ZCP 24-03-22 | USD | 2,614,435.91 | 2,614,325.69 | 6.72 |
| 1,565,000 UNIT STAT TREA BIL ZCP 27-01-22 | USD | 1,564,909.00 | 1,564,903.72 | 4.03 |
| 6,717,000 US TREASURY BILL ZCP 110822 | USD | 6,714,102.85 | 6,708,340.54 | 17.25 |

| Shares/Units of UCITS/UCIS |  | 2,400,045.73 | 2,402,578.34 | 6.18 |
| --- | --- | --- | --- | --- |
| Shares/Units in investment funds |  | 2,400,045.73 | 2,402,578.34 | 6.18 |
| Ireland |  | 2,400,045.73 | 2,402,578.34 | 6.18 |
| 229 GOLDMAN SACHS USD LIQUID RESERVES PLUS INSTITUTIONAL ACC | USD | 2,400,045.73 | 2,402,578.34 | 6.18 |
| Total securities portfolio | 26,357,927.57 | 26,350,784.08 | 67.78 |
| Cash at bank/(bank liabilities) |  | 11,870,386.56 | 30.53 |
| Other net assets/(liabilities) |  | 657,926.16 | 1.69 |
| Total net assets |  | 38,879,096.80 | 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 |