OVHaiLLM/Flipper huggingface dataset:
PERFORMANCE 12 ROLLING MONTHS OVER THE LAST 5 YEARS OF THE SHARE CLASS*
PERFORMANCE SINCE INCEPTION OF THE SHARE CLASS (REBASED NAVS)*	INTRA-MONTHLY PERFORMANCE OF THE SHARE CLASS (REBASED NAVS)*
- Uni-Global - Equities Japan SA-JPY
- MSCI Japan TR NetSources: Unigestion, Bloombergwww.unigestion.com - email: clients@unigestion.com1MARKET COMMENT (BASED ON THE SICAV REFERENCE CURRENCY)The Japanese equity market posted a slightly negative performance over the month, driven lower by European markets on concerns regarding the rising coronavirus cases and new lockdown measures. The Nikkei was down for five consecutive days at the end of the month, reflecting the deteriorating sentiment of investors. The Yen strengthened in October, confirming its safe haven role amid global uncertainties. From a sector perspective, Communication Services and Consumer Discretionary posted a positive performance, while the Energy and Health sectors showed the strongest decline over the month. Macro data published in October provided some ground for optimism as Japan’s factory output had a historical surge last quarter, supported by a pickup in trade with China and the US. Real exports grew 5.5% in September.

Translation (ENDE, 2020-10-30):
PERFORMANCE ÜBER 12 MONATE ROLLIEREND ÜBER DEN ZEITRAUM DER LETZTEN 5 JAHRE DER KLASSE*
PERFORMANCE SEIT AUFLEGUNG DER KLASSE (NAV UMBASIERT)*	MONATLICHE PERFORMANCE DER KLASSE (NAV UMBASIERT)*
- Uni-Global - Equities Japan SA-JPY
- MSCI Japan TR NetSources: Unigestion, Bloombergwww.unigestion.com - email: clients@unigestion.com1MARKTKOMMENTAR (BASIEREND AUF DER REFERENZWÄHRUNG DES FONDS)Der japanische Aktienmarkt verzeichnete im Laufe des Monats eine leicht negative Performance, die von den europäischen Märkten wegen der Besorgnis über steigende Coronavirus-Fälle und neue Lockdown-Maßnahmen nach unten getrieben wurde. Der Nikkei war am Monatsende fünf Tage in Folge rückläufig, was die sich verschlechternde Stimmung der Anleger widerspiegelt. Der Yen legte im Oktober zu und bestätigte damit seine Rolle als sicherer Hafen inmitten globaler Unsicherheiten. Aus Sektorperspektive verzeichneten die Sektoren Kommunikationsdienste und Verbrauchsgüterindustrie eine positive Performance, während die Sektoren Energie und Gesundheit im Laufe des Monats den stärksten Rückgang verzeichneten. Die im Oktober veröffentlichten Makrodaten gaben Anlass zu Optimismus, da Japans Fabrikproduktion im letzten Quartal einen historischen Anstieg verzeichnete, der durch eine Belebung des Handels mit China und den USA unterstützt wurde. Die realen Exporte wuchsen im September um 5,5%.
| The 5 largest holdings |
| --- |
| TENCENT HOLDINGS LTD - in HKD SAMSUNG ELECTRONICS CO LTD - in KRW | 3.49% 3.07% |
| AGRICULTURAL BANK OF CHINA-A - in CNY | 2.53% |
| INFOSYS LTD - in INR | 2.31% |
| TAIWAN SEMICONDUCTOR MANUFAC - in TWD | 2.23% |

Translation (ENDE, 2022-07-29):
| Die 5 grössten Positionen |
| --- |
| TENCENT HOLDINGS LTD - in HKD SAMSUNG ELECTRONICS CO LTD - in KRW | 3,49% 3,07% |
| AGRICULTURAL BANK OF CHINA-A - in CNY | 2,53% |
| INFOSYS LTD - in INR | 2,31% |
| TAIWAN SEMICONDUCTOR MANUFAC - in TWD | 2,23% |
| The 5 largest holdings |
| --- |
| WAL-MART STORES INC - in USD | 3.12% |
| EXTRA SPACE STORAGE INC - in USD | 2.12% |
| NEWMONT MINING CORP - in USD | 2.10% |
| DOLLAR GENERAL CORP - in USD | 2.09% |
| AMDOCS LTD - in USD | 2.07% |

Translation (ENDE, 2020-10-30):
| Die 5 grössten Positionen |
| --- |
| WAL-MART STORES INC - in USD | 3,12% |
| EXTRA SPACE STORAGE INC - in USD | 2,12% |
| NEWMONT MINING CORP - in USD | 2,10% |
| DOLLAR GENERAL CORP - in USD | 2,09% |
| AMDOCS LTD - in USD | 2,07% |
| Performance snapshot of the share class |
| --- |
|  | Fund 1 | Index 2 |
| Performance	Monthly | -3.95% | -4.19% |
| 3 months | -2.58% | -1.23% |
| Year to date | 5.17% | 10.50% |
| Year over year | 10.17% | 26.50% |
| since inception (p.a.) | 2.20% | 14.42% |
| Volatility	since inception | 16.94% | 20.48% |
| Performance/Volatility since inception (p.a.) | 0.13 | 0.70 |
| Tracking Error since inception |  | 6.69% |
| Beta since inception |  | 0.78 |

Translation (ENDE, 2021-09-30):
| Überblick über die Performance und Risiko der Klasse |
| --- |
|  | Fonds 1 | Index 2 |
| Performance	Monatliche | -3.95% | -4.19% |
| 3 Monate | -2.58% | -1.23% |
| YTD | 5.17% | 10.50% |
| 1 Jahr | 10.17% | 26.50% |
| seit Auflegung (p.a.) | 2.20% | 14.42% |
| Volatilität	seit Auflegung | 16.94% | 20.48% |
| Performance/Volatilität seit Auflegung (p.a.) | 0.13 | 0.70 |
| Tracking Error seit Auflegung |  | 6.69% |
| Beta seit Auflegung |  | 0.78 |
| The 5 largest holdings |
| --- |
| WAL-MART STORES INC - in USD NINTENDO CO LTD - in JPY | 2.94% 2.04% |
| VERIZON COMMUNICATIONS INC - in USD | 2.03% |
| TARGET CORP - in USD | 2.01% |
| GENERAL MILLS INC - in USD | 2.00% |

Translation (ENDE, 2020-10-30):
| Die 5 grössten Positionen |
| --- |
| WAL-MART STORES INC - in USD NINTENDO CO LTD - in JPY | 2,94% 2,04% |
| VERIZON COMMUNICATIONS INC - in USD | 2,03% |
| TARGET CORP - in USD | 2,01% |
| GENERAL MILLS INC - in USD | 2,00% |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund 1 | Index 2 |
| 2021 | 0.97% | -0.63% | 7.08% | 0.98% | 0.59% | 2.59% | -0.10% | 2.13% | -2.09% |  |  |  | 11.84% | 17.31% |
| 2020 | 0.80% | -7.26% | -11.46% | 7.41% | -0.02% | 0.17% | -0.51% | 1.46% | -0.40% | -3.09% | 3.48% | 0.52% | -9.77% | 6.65% |
| 2019 | 5.66% | 3.24% | 1.68% | 1.71% | -3.09% | 1.89% | 1.78% | 1.02% | 2.60% | -1.19% | 1.39% | 0.25% | 18.00% | 28.93% |
| 2018 |  |  | -2.52% | 2.42% | 1.11% | -0.44% | 3.20% | 2.22% | 1.21% | -2.39% | 2.02% | -7.43% | -3.13% | -6.39% |

Translation (ENDE, 2021-09-30):
| Jan | Feb | Mär | Apr | Mai | Jun | Jul | Aug | Sep | Okt | Nov | Dez | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fonds 1 | Index 2 |
| 2021 | 0.97% | -0.63% | 7.08% | 0.98% | 0.59% | 2.59% | -0.10% | 2.13% | -2.09% |  |  |  | 11.84% | 17.31% |
| 2020 | 0.80% | -7.26% | -11.46% | 7.41% | -0.02% | 0.17% | -0.51% | 1.46% | -0.40% | -3.09% | 3.48% | 0.52% | -9.77% | 6.65% |
| 2019 | 5.66% | 3.24% | 1.68% | 1.71% | -3.09% | 1.89% | 1.78% | 1.02% | 2.60% | -1.19% | 1.39% | 0.25% | 18.00% | 28.93% |
| 2018 |  |  | -2.52% | 2.42% | 1.11% | -0.44% | 3.20% | 2.22% | 1.21% | -2.39% | 2.02% | -7.43% | -3.13% | -6.39% |
| The 5 largest holdings |
| --- |
| VONOVIA SE - in EUR DEUTSCHE WOHNEN AG-BR - in EUR | 4.11% 3.47% |
| WOLTERS KLUWER - in EUR | 3.06% |
| KONINKLIJKE KPN NV - in EUR | 3.04% |
| SANOFI - in EUR | 2.87% |

Translation (ENDE, 2020-10-30):
| Die 5 grössten Positionen |
| --- |
| VONOVIA SE - in EUR DEUTSCHE WOHNEN AG-BR - in EUR | 4,11% 3,47% |
| WOLTERS KLUWER - in EUR | 3,06% |
| KONINKLIJKE KPN NV - in EUR | 3,04% |
| SANOFI - in EUR | 2,87% |
| The 5 largest holdings |
| --- |
| NEXON CO LTD - in JPY | 3.24% |
| NIPPON TELEGRAPH & TELEPHONE - in JPY | 3.23% |
| MS&AD INSURANCE GROUP HOLDIN - in JPY | 3.19% |
| BANDAI NAMCO HOLDINGS INC - in JPY | 3.06% |
| LION CORP - in JPY | 3.03% |

Translation (ENDE, 2020-10-30):
| Die 5 grössten Positionen |
| --- |
| NEXON CO LTD - in JPY | 3,24% |
| NIPPON TELEGRAPH & TELEPHONE - in JPY | 3,23% |
| MS&AD INSURANCE GROUP HOLDIN - in JPY | 3,19% |
| BANDAI NAMCO HOLDINGS INC - in JPY | 3,06% |
| LION CORP - in JPY | 3,03% |
PERFORMANCE 12 ROLLING MONTHS OVER THE LAST 5 YEARS OF THE SHARE CLASS*
PERFORMANCE SINCE INCEPTION OF THE SHARE CLASS (REBASED NAVS)*	INTRA-MONTHLY PERFORMANCE OF THE SHARE CLASS (REBASED NAVS)*
- Uni-Global - Equities US SAH-EUR
- MSCI USA Net TR EUR Index hedged Sources: Unigestion, Bloombergwww.unigestion.com - email: clients@unigestion.com1MARKET COMMENT (BASED ON THE SICAV REFERENCE CURRENCY)Global equity markets endured a very difficult month in February. They had already experienced high levels of volatility with the worst start to the year since 2016, even before the latest escalation of the Russia-Ukraine crisis. Russia’s invasion of Ukraine sent markets further down, with the MSCI All Country World index declining 2.6%. In the US, the S&P 500 ended 3% lower, while oil prices surged above USD 100 per barrel for the first time since 2014 as pressure built on Russia’s financial system following the global coordinated sanctions. At the same time, gold jumped to its highest levels in over a year as it is often regarded as a safe haven during times of geopolitical turmoil. Among industries, rising oil and gas prices saw Energy stocks leading the gains, followed by Health Care and Insurance. Conversely, Media & Entertainment, Automobiles and Software lagged the most. In terms of style, the Value factor outperformed, benefiting from rising government bond yields and the growing sentiment that policymakers will raise rates materially away from current levels.

Translation (ENDE, 2022-02-28):
PERFORMANCE ÜBER 12 MONATE ROLLIEREND ÜBER DEN ZEITRAUM DER LETZTEN 5 JAHRE DER KLASSE*
PERFORMANCE SEIT AUFLEGUNG DER KLASSE (NAV UMBASIERT)*	MONATLICHE PERFORMANCE DER KLASSE (NAV UMBASIERT)*
- Uni-Global - Equities US SAH-EUR
- MSCI USA Net TR EUR Index hedged Sources: Unigestion, Bloombergwww.unigestion.com - email: clients@unigestion.com1MARKTKOMMENTAR (BASIEREND AUF DER REFERENZWÄHRUNG DES FONDS)Die globalen Aktienmärkte erlebten im Februar einen sehr schwierigen Monat. Bereits vor der jüngsten Eskalation der Russland-Ukraine-Krise hatten sie eine hohe Volatilität mit dem schlechtesten Jahre- sauftakt seit 2016 erlebt. Die russische Invasion in die Ukraine führte zu einem weiteren Rückgang der Märkte, wobei der MSCI All Country World um 2,6% nachgab. In den USA beendete der S & P 500 den Monat mit einem Minus von 3%, während der Ölpreis zum ersten Mal seit 2014 über 100 USD pro Barrel stieg, da der Druck auf das Finanzsystem Russlands infolge der weltweit koordinierten Sanktionen zunahm. Gleichzeitig stieg Gold auf seinen höchsten Stand seit mehr als einem Jahr, da es in Zeiten geopolitischer Turbulenzen häufig als sicherer Hafen angesehen wird. Unter den Branchen führten die steigenden Öl- und Gaspreise Energieaktien an, gefolgt von Gesundheits- und Versicherungswerten. Demgegenüber blieben Medien & Entertainment, Automobile und Software am stärksten zurück. Beim Anlagestil entwickelte sich der Value-Faktor überdurchschnittlich, da er von den steigenden Staatsanleihenrenditen und der wachsenden Stimmung profitierte, dass die politischen Entscheidungsträgerdie Zinsen deutlich von den aktuellen Niveaus abheben werden.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund 1 | Index 2 |
| 2020 | 0.03% | -5.12% | -8.87% | 5.43% | 3.62% | 1.22% | -1.36% | 0.61% | 1.16% |  |  |  | -3.98% | 3.99% |
| 2019 | 2.70% | 1.35% | 2.37% | 1.49% | -0.31% | 3.14% | 3.45% | 0.47% | 0.41% | -3.69% | 0.26% | -0.33% | 11.68% | 21.82% |
| 2018 | -1.35% | -0.81% | -3.44% | 2.50% | 1.13% | 0.39% | 4.13% | 2.60% | 0.72% | -2.80% | 2.12% | -6.34% | -1.63% | -4.07% |
| 2017 | -0.05% | 4.02% | 0.01% | -2.59% | 2.85% | -0.31% | -0.57% | 2.31% | -2.40% | 3.03% | 1.38% | 1.30% | 9.09% | 13.28% |
| 2016 | 1.15% | 2.30% | 3.33% | -1.72% | 0.16% | 11.31% | 3.44% | -0.68% | 0.50% | 2.54% | -2.24% | 2.42% | 24.18% | 28.77% |

Translation (ENDE, 2020-09-30):
| Jan | Feb | Mär | Apr | Mai | Jun | Jul | Aug | Sep | Okt | Nov | Dez | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fonds 1 | Index 2 |
| 2020 | 0.03% | -5.12% | -8.87% | 5.43% | 3.62% | 1.22% | -1.36% | 0.61% | 1.16% |  |  |  | -3.98% | 3.99% |
| 2019 | 2.70% | 1.35% | 2.37% | 1.49% | -0.31% | 3.14% | 3.45% | 0.47% | 0.41% | -3.69% | 0.26% | -0.33% | 11.68% | 21.82% |
| 2018 | -1.35% | -0.81% | -3.44% | 2.50% | 1.13% | 0.39% | 4.13% | 2.60% | 0.72% | -2.80% | 2.12% | -6.34% | -1.63% | -4.07% |
| 2017 | -0.05% | 4.02% | 0.01% | -2.59% | 2.85% | -0.31% | -0.57% | 2.31% | -2.40% | 3.03% | 1.38% | 1.30% | 9.09% | 13.28% |
| 2016 | 1.15% | 2.30% | 3.33% | -1.72% | 0.16% | 11.31% | 3.44% | -0.68% | 0.50% | 2.54% | -2.24% | 2.42% | 24.18% | 28.77% |
# MONTHLY PERFORMANCE CONTRIBUTIONS - RISK PREMIA*	MONTHLY PERFORMANCE CONTRIBUTIONS - BOOKS*
|  |  |  |  |
| --- | --- | --- | --- |
| Duration | 0.28% |  |  | -0.1% |
| InflationBreakevens | -0.04% |  |  |  |
| CreditSpread | -0.31% |  |  | -0.7% |
| Equities | -1.95% |  |  |  |
|  |  |  |  |  |
| AlternativeIncome | 0.06% |  |  | -1.6% |
| MacroDirectional | -0.03% |  |  |  |
| EquityFactorsMarketNeutral | -0.02% |  |  |  | -2.4% |
| FX | 0.01% |  |  |  |  |
| Other | -0.07% |  | S | trategicBookDynamicBookOpportunistic Book | Uni-Global- CrossAsset |
| -3.2% | -2.4%-1.6%-0.8%0.0%0.8% | 1.6% |  |  | Navigator |

Commodities
- PerformancecontributionsarethoseoftheRA-USDshareclass,grossoffees.

Translation (ENDE, 2020-09-30):
# MONATLICHE PERFORMANCEBEITRÄGE NACH RISIKOPRÄMIEN*	MONATLICHE PERFORMANCEBEITRÄGE NACH TEILPORTFOLIO*
|  |  |  |  |
| --- | --- | --- | --- |
| Duration | 0.28% |  |  | -0.1% |
| InflationBreakevens | -0.04% |  |  |  |
| CreditSpread | -0.31% |  |  | -0.7% |
| Equities | -1.95% |  |  |  |
|  |  |  |  |  |
| AlternativeIncome | 0.06% |  |  | -1.6% |
| MacroDirectional | -0.03% |  |  |  |
| EquityFactorsMarketNeutral FX | -0.02% 0.01% |  |  |  | -2.4% |
| Other | -0.07% |  | S | trategicBookDynamicBookOpportunistic Book | Uni-Global- CrossAsset |
| -3.2% | -2.4%-1.6%-0.8%0.0%0.8% | 1.6% |  |  | Navigator |

Commodities
- PerformanceBeiträgederRA-USDAnteilsklasse,vorAbzugvonGebühren.
| The 5 largest holdings |
| --- |
| NOVO NORDISK A/S-B - in DKK ASSICURAZIONI GENERALI - in EUR | 3.44% 2.71% |
| AXA SA - in EUR | 2.59% |
| ROCHE HOLDING AG-GENUSSCHEIN - in CHF | 2.57% |
| SANOFI - in EUR | 2.47% |

Translation (ENDE, 2021-09-30):
| Die 5 grössten Positionen |
| --- |
| NOVO NORDISK A/S-B - in DKK ASSICURAZIONI GENERALI - in EUR | 3,44% 2,71% |
| AXA SA - in EUR | 2,59% |
| ROCHE HOLDING AG-GENUSSCHEIN - in CHF | 2,57% |
| SANOFI - in EUR | 2,47% |
| The 5 largest holdings |
| --- |
| ASSICURAZIONI GENERALI - in EUR ORANGE - in EUR | 2.95% 2.93% |
| KONINKLIJKE DSM NV - in EUR | 2.93% |
| KONINKLIJKE KPN NV - in EUR | 2.89% |
| DEUTSCHE BOERSE AG - in EUR | 2.81% |

Translation (ENDE, 2022-10-31):
| Die 5 grössten Positionen |
| --- |
| ASSICURAZIONI GENERALI - in EUR ORANGE - in EUR | 2,95% 2,93% |
| KONINKLIJKE DSM NV - in EUR | 2,93% |
| KONINKLIJKE KPN NV - in EUR | 2,89% |
| DEUTSCHE BOERSE AG - in EUR | 2,81% |
| The 5 largest holdings |
| --- |
| WAL-MART STORES INC - in USD NOVO NORDISK A/S-B - in DKK | 2.81% 2.42% |
| PROGRESSIVE CORP - in USD | 2.28% |
| GENERAL MILLS INC - in USD | 2.26% |
| CLOROX COMPANY - in USD | 2.20% |

Translation (ENDE, 2023-02-28):
| Die 5 grössten Positionen |
| --- |
| WAL-MART STORES INC - in USD NOVO NORDISK A/S-B - in DKK | 2,81% 2,42% |
| PROGRESSIVE CORP - in USD | 2,28% |
| GENERAL MILLS INC - in USD | 2,26% |
| CLOROX COMPANY - in USD | 2,20% |
| The 5 largest holdings |
| --- |
| CAIXABANK S.A - in EUR ASSICURAZIONI GENERALI - in EUR | 3.20% 3.03% |
| KONINKLIJKE KPN NV - in EUR | 2.98% |
| SWISSCOM AG-REG - in CHF | 2.94% |
| DEUTSCHE BOERSE AG - in EUR | 2.81% |

Translation (ENDE, 2023-01-31):
| Die 5 grössten Positionen |
| --- |
| CAIXABANK S.A - in EUR ASSICURAZIONI GENERALI - in EUR | 3,20% 3,03% |
| KONINKLIJKE KPN NV - in EUR | 2,98% |
| SWISSCOM AG-REG - in CHF | 2,94% |
| DEUTSCHE BOERSE AG - in EUR | 2,81% |
| The 5 largest holdings |
| --- |
| CAIXABANK S.A - in EUR ORANGE - in EUR | 3.38% 3.01% |
| KONINKLIJKE KPN NV - in EUR | 2.99% |
| ASSICURAZIONI GENERALI - in EUR | 2.91% |
| HERMES INTERNATIONAL - in EUR | 2.89% |

Translation (ENDE, 2022-12-30):
| Die 5 grössten Positionen |
| --- |
| CAIXABANK S.A - in EUR ORANGE - in EUR | 3,38% 3,01% |
| KONINKLIJKE KPN NV - in EUR | 2,99% |
| ASSICURAZIONI GENERALI - in EUR | 2,91% |
| HERMES INTERNATIONAL - in EUR | 2,89% |
| The 5 largest holdings |
| --- |
| VONOVIA SE - in EUR NESTLE SA-REG - in CHF | 3.28% 3.08% |
| NOVO NORDISK A/S-B - in DKK | 3.06% |
| DEUTSCHE WOHNEN AG-BR - in EUR | 3.04% |
| ROCHE HOLDING AG-GENUSSCHEIN - in CHF | 3.02% |

Translation (ENDE, 2020-10-30):
| Die 5 grössten Positionen |
| --- |
| VONOVIA SE - in EUR NESTLE SA-REG - in CHF | 3,28% 3,08% |
| NOVO NORDISK A/S-B - in DKK | 3,06% |
| DEUTSCHE WOHNEN AG-BR - in EUR | 3,04% |
| ROCHE HOLDING AG-GENUSSCHEIN - in CHF | 3,02% |
| The 5 largest holdings |
| --- |
| ROCHE HOLDING AG-GENUSSCHEIN - in CHF ASSICURAZIONI GENERALI - in EUR | 3.54% 2.94% |
| NOVARTIS AG-REG - in CHF | 2.88% |
| AXA SA - in EUR | 2.88% |
| UPM-KYMMENE OYJ - in EUR | 2.79% |

Translation (ENDE, 2022-01-31):
| Die 5 grössten Positionen |
| --- |
| ROCHE HOLDING AG-GENUSSCHEIN - in CHF ASSICURAZIONI GENERALI - in EUR | 3,54% 2,94% |
| NOVARTIS AG-REG - in CHF | 2,88% |
| AXA SA - in EUR | 2,88% |
| UPM-KYMMENE OYJ - in EUR | 2,79% |
In July, the fund decreased by -1.84% (in JPY terms), outperforming its benchmark by 53bp (in JPY terms). The MSCI Japan Total Return Net lost 2.37%. The fund records a positive YTD performance of 3.28%, underperforming its benchmark by 302bp.
From an industry group perspective, our stock selection was a positive contributor to excess returns while allocation marginally impacted performance. Our selection in Real Estate (26bp) and Insurance (15bp) generated relative gains. On the contrary, our stock picking in Technology (-32bp) and Automobiles (-17bp) underperformed.
With a positive impact of 22bp, SOFTBANK GROUP CORP (not held in portfolio) was the top contributor to relative performance. With a negative contribution of 17bp, overweight of FAST RETAILING CO LTD was the largest detractor from excess returns.
RISK
Chart of volatility of the share class (since inception)*	Maximum loss of the share class (since inception)*

Translation (ENDE, 2021-07-30):
Im Juli gab der Fonds um -1,84% (in JPY) nach und übertraf damit seine Benchmark um 53 Bp (in JPY). Der MSCI Japan Total Return Net verlor 2,37%. Der Fonds verzeichnete seit Jahresbeginn eine positive Performance von 3,28% und blieb um 302 Bp hinter seiner Benchmark zurück.
Auf Sektorebene leistete unsere Titelauswahl einen positiven Beitrag zu den Überschussrenditen, während die Allokation die Performance geringfügig beeinträchtigte. Unsere Auswahl in den Bereichen Immobilien (26 Bp.) und Versicherungen (15 Bp.) brachte relative Gewinne. Unsere Titelauswahl im Technologiesektor (-32 Bp.) und im Automobilsektor (-17 Bp.) blieb hingegen zurück.
Mit einem positiven Effekt von 22 Bp leistete SOFTBANK GROUP CORP (nicht im Portfolio enthalten) den größten Beitrag zur relativen Performance. Mit einem negativen Beitrag von 17 Bp schmälerte die Übergewichtung von FAST RETAILING CO LTD die Überschussrendite am stärksten.
RISIKO
Grafik der Volatilität der Klasse (seit Auflegung)*	Maximaler Wertverlust der Klasse (seit Auflegung)*
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund 1 | Index 2 |
| 2020 | -1.15% | -8.85% | -15.72% | 9.83% | 3.53% | -1.08% | 5.82% | 2.75% | -3.15% | -3.32% |  |  | -13.04% | 4.01% |
| 2019 | 6.06% | 2.25% | 1.04% | 2.10% | -2.13% | 4.54% | 1.13% | -0.02% | 0.81% | 0.03% | 1.52% | 1.78% | 20.59% | 30.88% |
| 2018 | 3.06% | -3.63% | -1.12% | 0.34% | 1.36% | 0.79% | 2.41% | 1.80% | 0.54% | -4.72% | 2.97% | -8.07% | -4.83% | -5.04% |
| 2017 | 0.82% | 3.13% | -0.25% | 0.61% | -0.62% | 0.82% | 1.17% | -1.37% | 2.89% | 2.04% | 4.45% | 1.05% | 15.61% | 21.19% |
| 2016 | -1.86% | 1.43% | 5.54% | -0.94% | 0.65% | 2.29% | 1.98% | -1.73% | -1.49% | -3.06% | 3.42% | 1.77% | 7.93% | 10.89% |

Translation (ENDE, 2020-10-30):
| Jan | Feb | Mär | Apr | Mai | Jun | Jul | Aug | Sep | Okt | Nov | Dez | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fonds 1 | Index 2 |
| 2020 | -1.15% | -8.85% | -15.72% | 9.83% | 3.53% | -1.08% | 5.82% | 2.75% | -3.15% | -3.32% |  |  | -13.04% | 4.01% |
| 2019 | 6.06% | 2.25% | 1.04% | 2.10% | -2.13% | 4.54% | 1.13% | -0.02% | 0.81% | 0.03% | 1.52% | 1.78% | 20.59% | 30.88% |
| 2018 | 3.06% | -3.63% | -1.12% | 0.34% | 1.36% | 0.79% | 2.41% | 1.80% | 0.54% | -4.72% | 2.97% | -8.07% | -4.83% | -5.04% |
| 2017 | 0.82% | 3.13% | -0.25% | 0.61% | -0.62% | 0.82% | 1.17% | -1.37% | 2.89% | 2.04% | 4.45% | 1.05% | 15.61% | 21.19% |
| 2016 | -1.86% | 1.43% | 5.54% | -0.94% | 0.65% | 2.29% | 1.98% | -1.73% | -1.49% | -3.06% | 3.42% | 1.77% | 7.93% | 10.89% |
| The 5 largest holdings |
| --- |
| TENCENT HOLDINGS LTD - in HKD SAMSUNG ELECTRONICS CO LTD - in KRW | 3.81% 2.33% |
| INFOSYS LTD - in INR | 2.27% |
| ABU DHABI NATIONAL OIL CO FO - in AED | 2.05% |
| BAJAJ AUTO LTD - in INR | 2.03% |

Translation (ENDE, 2022-08-31):
| Die 5 grössten Positionen |
| --- |
| TENCENT HOLDINGS LTD - in HKD SAMSUNG ELECTRONICS CO LTD - in KRW | 3,81% 2,33% |
| INFOSYS LTD - in INR | 2,27% |
| ABU DHABI NATIONAL OIL CO FO - in AED | 2,05% |
| BAJAJ AUTO LTD - in INR | 2,03% |
| The 5 largest holdings |
| --- |
| TAIWAN SEMICONDUCTOR MANUFAC - in TWD TENCENT HOLDINGS LTD - in HKD | 6.85% 4.25% |
| SAMSUNG ELECTRONICS CO LTD - in KRW | 3.61% |
| AGRICULTURAL BANK OF CHINA-A - in CNY | 3.20% |
| AL RAJHI BANK - in SAR | 2.96% |

Translation (ENDE, 2022-02-28):
| Die 5 grössten Positionen |
| --- |
| TAIWAN SEMICONDUCTOR MANUFAC - in TWD TENCENT HOLDINGS LTD - in HKD | 6,85% 4,25% |
| SAMSUNG ELECTRONICS CO LTD - in KRW | 3,61% |
| AGRICULTURAL BANK OF CHINA-A - in CNY | 3,20% |
| AL RAJHI BANK - in SAR | 2,96% |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund 1 | Index 2 |
| 2020 | -0.73% | -8.20% | -12.15% | 7.00% | 1.43% | 1.05% | 4.64% | 2.52% | -2.47% | -3.84% |  |  | -11.66% | -2.27% |
| 2019 | 5.74% | 2.20% | -0.01% | 1.23% | -3.91% | 3.82% | -0.77% | -0.35% | 1.31% | 0.83% | 0.01% | 1.79% | 12.22% | 22.78% |
| 2018 | 3.44% | -4.12% | -1.96% | 0.41% | -2.56% | -0.66% | 3.20% | 1.36% | 0.80% | -5.07% | 1.69% | -6.81% | -10.36% | -11.76% |
| 2017 | 1.54% | 2.78% | 0.28% | 0.60% | 2.45% | 0.09% | 0.73% | -0.22% | 1.43% | 1.78% | 3.13% | 0.86% | 16.51% | 21.64% |
| 2016 | -2.76% | 0.44% | 6.35% | 0.06% | -0.66% | 1.96% | 2.56% | -2.22% | -0.56% | -3.81% | -0.12% | 1.05% | 1.92% | 6.26% |

Translation (ENDE, 2020-10-30):
| Jan | Feb | Mär | Apr | Mai | Jun | Jul | Aug | Sep | Okt | Nov | Dez | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fonds 1 | Index 2 |
| 2020 | -0.73% | -8.20% | -12.15% | 7.00% | 1.43% | 1.05% | 4.64% | 2.52% | -2.47% | -3.84% |  |  | -11.66% | -2.27% |
| 2019 | 5.74% | 2.20% | -0.01% | 1.23% | -3.91% | 3.82% | -0.77% | -0.35% | 1.31% | 0.83% | 0.01% | 1.79% | 12.22% | 22.78% |
| 2018 | 3.44% | -4.12% | -1.96% | 0.41% | -2.56% | -0.66% | 3.20% | 1.36% | 0.80% | -5.07% | 1.69% | -6.81% | -10.36% | -11.76% |
| 2017 | 1.54% | 2.78% | 0.28% | 0.60% | 2.45% | 0.09% | 0.73% | -0.22% | 1.43% | 1.78% | 3.13% | 0.86% | 16.51% | 21.64% |
| 2016 | -2.76% | 0.44% | 6.35% | 0.06% | -0.66% | 1.96% | 2.56% | -2.22% | -0.56% | -3.81% | -0.12% | 1.05% | 1.92% | 6.26% |
| The 5 largest holdings |
| --- |
| ORANGE - in EUR KONINKLIJKE KPN NV - in EUR | 3.14% 3.08% |
| ASSICURAZIONI GENERALI - in EUR | 3.08% |
| HERMES INTERNATIONAL - in EUR | 3.07% |
| CAIXABANK S.A - in EUR | 3.06% |

Translation (ENDE, 2023-02-28):
| Die 5 grössten Positionen |
| --- |
| ORANGE - in EUR KONINKLIJKE KPN NV - in EUR | 3,14% 3,08% |
| ASSICURAZIONI GENERALI - in EUR | 3,08% |
| HERMES INTERNATIONAL - in EUR | 3,07% |
| CAIXABANK S.A - in EUR | 3,06% |