# Allocation to the share classes
### A shares

## Pro rata net subfund assets	USD 19,125,583.48

## Outstanding shares	128,708.540

## Share value	USD 148.60

### A1 shares

## Pro rata net subfund assets	USD 6,069,879.24

## Outstanding shares	44,854.630

## Share value	USD 135.32

## Share value	CHF 123.63 3)

### A2 shares

## Pro rata net subfund assets	USD 11,876,669.35

## Outstanding shares	79,998.420

## Share value	USD 148.46

## Share value	EUR 131.03 4)

### B shares

## Pro rata net subfund assets	USD 1,402,931.81

## Outstanding shares	13,528.270

## Share value	USD 103.70

## 1)  See notes to the report.

## 2)  This item essentially consists of management the flat fee and the liabilities from securities lending.

## 3)  converted to US dollar using the exchange rate as at 31 December 2021: 1 USD = 0.9136 CHF

## 4)  converted to US dollar using the exchange rate as at 31 December 2021: 1 USD = 0.8826 EUR
| B1 shares |  |
| --- | --- |
| Pro rata net subfund assets | USD 34,743.08 |
| Outstanding shares | 362.900 |
| Share value | USD 95.74 |
| Share value | CHF 87.47 1) |
| B2 shares |  |
| Pro rata net subfund assets | USD 1,054,911.19 |
| Outstanding shares | 10,040.000 |
| Share value | USD 105.07 |
| Share value | EUR 92.74 2) |
| C shares |  |
| Pro rata net subfund assets | USD 79,872,150.99 |
| Outstanding shares | 516,371.330 |
| Share value | USD 154.68 |
| C1 shares |  |
| Pro rata net subfund assets | USD 17,197,921.24 |
| Outstanding shares | 121,814.380 |
| Share value | USD 141.18 |
| Share value | CHF 128.98 1) |
| C2 shares |  |
| Pro rata net subfund assets | USD 19,154,461.55 |
| Outstanding shares | 123,814.390 |
| Share value | USD 154.70 |
| Share value | EUR 136.54 2) |
| D shares |  |
| Pro rata net subfund assets | USD 4,198,714.64 |
| Outstanding shares | 39,524.720 |
| Share value | USD 106.23 |
| D1 shares |  |
| Pro rata net subfund assets | USD 991,174.22 |
| Outstanding shares | 10,090.000 |
| Share value | USD 98.23 |
| Share value | CHF 89.74 1) |
| D2 shares |  |
| Pro rata net subfund assets | USD 16,474,246.36 |
| Outstanding shares | 143,642.840 |
| Share value | USD 114.69 |
| Share value | EUR 101.23 2) |


## 1)  converted to US dollar using the exchange rate as at 31 December 2021: 1 USD = 0.9136 CHF

## 2)  converted to US dollar using the exchange rate as at 31 December 2021: 1 USD = 0.8826 EUR

## The notes form an integral component of this annual report.
| R shares |  |
| --- | --- |
| Pro rata net subfund assets | USD 4,636,258.61 |
| Outstanding shares | 31,837.880 |
| Share value | USD 145.62 |
| R1 shares |  |
| Pro rata net subfund assets | USD 2,209,202.16 |
| Outstanding shares | 20,135.700 |
| Share value | USD 109.72 |
| Share value | CHF 100.24 1) |
| R2 shares |  |
| Pro rata net subfund assets | USD 1,600,360.83 |
| Outstanding shares | 13,668.480 |
| Share value | USD 117.08 |
| Share value | EUR 103.34 2) |


## 1)  converted to US dollar using the exchange rate as at 31 December 2021: 1 USD = 0.9136 CHF

## 2)  converted to US dollar using the exchange rate as at 31 December 2021: 1 USD = 0.8826 EUR
| Change to net subfund assets |  |
| --- | --- |
| during the reporting period from 1 January 2021 to 31 December 2021 |
|  | Total | A shares | A1 shares | A2 shares |
|  | USD | USD | USD | USD |
| Net subfund assets at beginning of reporting period | 510,672,395.32 | 24,942,085.92 | 7,482,474.13 | 68,542,645.00 |
| Ordinary net income | 10,002,342.20 | 954,172.82 | 301,025.14 | 614,892.49 |
| Adjustment for income and expenses | 12,772,413.75 | 167,376.50 | 52,400.89 | 2,043,376.45 |
| Inflow of funds from share sales | 141,487,771.62 | 5,430,575.71 | 1,150,794.24 | 9,489,241.33 |
| Outflow of funds from share redemptions | -453,114,631.29 | -11,330,536.65 | -2,229,687.48 | -60,933,802.11 |
| Realised profits | 42,016,322.45 | 1,567,384.37 | 846,873.38 | 6,075,793.28 |
| Realised losses | -62,893,120.90 | -1,979,513.75 | -1,360,000.42 | -11,236,271.52 |
| Net change in non-realised profits | -22,069,804.24 | -1,045,518.55 | -315,000.24 | -3,431,391.78 |
| Net change in non-realised losses | 8,148,003.60 | 419,557.11 | 140,999.60 | 712,186.21 |
| Distribution | -1,122,483.76 | 0.00 | 0.00 | 0.00 |
| Net subfund assets at end of reporting period | 185,899,208.75 | 19,125,583.48 | 6,069,879.24 | 11,876,669.35 |
|  | B shares | B1 shares | B2 shares | C shares |
|  | USD | USD | USD | USD |
| Net subfund assets at beginning of reporting period | 1,220,914.21 | 278,918.44 | 2,132,309.40 | 203,174,446.46 |
| Ordinary net income | 71,277.84 | 1,765.27 | 55,206.04 | 4,319,419.26 |
| Adjustment for income and expenses | -1,096.24 | 1,093.97 | 34,766.36 | 5,455,846.39 |
| Inflow of funds from share sales | 309,558.39 | 1,283.41 | 2,270,948.59 | 55,496,600.82 |
| Outflow of funds from share redemptions | -55,512.44 | -236,976.42 | -3,100,714.51 | -180,664,214.09 |
| Realised profits | 95,409.65 | 15,488.83 | 242,454.15 | 12,698,143.06 |
| Realised losses | -130,930.56 | -20,727.51 | -411,179.64 | -15,151,578.19 |
| Net change in non-realised profits | -65,687.45 | -4,498.67 | -107,694.44 | -8,433,950.00 |
| Net change in non-realised losses | 28,201.88 | 137.93 | 25,603.81 | 2,977,437.28 |
| Distribution | -69,203.47 | -1,742.17 | -86,788.57 | 0.00 |
| Net subfund assets at end of reporting period | 1,402,931.81 | 34,743.08 | 1,054,911.19 | 79,872,150.99 |
|  | C1 shares | C2 shares | D shares | D1 shares |
|  | USD | USD | USD | USD |
| Net subfund assets at beginning of reporting period | 58,991,605.31 | 80,469,573.28 | 5,661,418.88 | 1,205,172.74 |
| Ordinary net income | 924,534.04 | 1,073,446.55 | 231,203.01 | 54,341.73 |
| Adjustment for income and expenses | 1,338,740.77 | 2,013,998.26 | 46,806.44 | 4,803.70 |
| Inflow of funds from share sales | 2,261,531.44 | 20,383,953.08 | 762,836.68 | 27,368.19 |
| Outflow of funds from share redemptions | -42,571,472.08 | -77,292,540.44 | -2,017,414.26 | -136,790.72 |
| Realised profits | 5,771,032.46 | 7,058,435.49 | 356,113.20 | 127,348.20 |
| Realised losses | -8,401,713.57 | -11,786,531.98 | -458,090.31 | -206,723.90 |
| Net change in non-realised profits | -1,955,617.22 | -3,670,471.98 | -228,944.77 | -48,173.13 |
| Net change in non-realised losses | 839,280.09 | 904,599.29 | 114,248.41 | 19,560.81 |
| Distribution | 0.00 | 0.00 | -269,462.64 | -55,733.40 |
| Net subfund assets at end of reporting period | 17,197,921.24 | 19,154,461.55 | 4,198,714.64 | 991,174.22 |

|  | D2 shares | R shares | R1 shares | R2 shares |
| --- | --- | --- | --- | --- |
| USD | USD | USD | USD |
| Net subfund assets at beginning of reporting period | 15,601,893.69 | 15,261,944.64 | 23,174,990.63 | 2,532,002.59 |
| Ordinary net income | 937,285.04 | 255,997.02 | 117,644.82 | 90,131.13 |
| Adjustment for income and expenses | -31,596.12 | 356,869.66 | 904,569.34 | 384,457.38 |
| Inflow of funds from share sales | 5,555,898.06 | 2,005,970.93 | 7,328,856.58 | 29,012,354.17 |
| Outflow of funds from share redemptions | -2,496,181.01 | -13,006,781.27 | -27,392,574.06 | -29,649,433.75 |
| Realised profits | 1,663,310.55 | 862,889.07 | 2,518,368.20 | 2,117,278.56 |
| Realised losses | -3,537,525.43 | -936,909.24 | -4,002,005.16 | -3,273,419.72 |
| Net change in non-realised profits | -934,774.47 | -499,411.33 | -973,809.05 | -354,861.16 |
| Net change in non-realised losses | 355,489.56 | 335,689.13 | 533,160.86 | 741,851.63 |
| Distribution | -639,553.51 | 0.00 | 0.00 | 0.00 |
| Net subfund assets at end of reporting period | 16,474,246.36 | 4,636,258.61 | 2,209,202.16 | 1,600,360.83 |
| Development of the number of shares outstanding | A shares | A1 shares | A2 shares | B shares |
|  | Unit | Unit | Unit | Unit |
| Outstanding shares at beginning of reporting period | 167,358.240 | 52,706.540 | 420,780.170 | 11,192.800 |
| Issued shares | 36,225.670 | 8,310.000 | 59,733.760 | 2,858.340 |
| Redeemed shares | -74,875.370 | -16,161.910 | -400,515.510 | -522.870 |
| Outstanding shares at end of reporting period | 128,708.540 | 44,854.630 | 79,998.420 | 13,528.270 |
|  | B1 shares | B2 shares | C shares | C1 shares |
|  | Unit | Unit | Unit | Unit |
| Outstanding shares at beginning of reporting period | 2,637.100 | 17,726.110 | 1,315,197.770 | 400,107.530 |
| Issued shares | 12.800 | 19,478.260 | 352,846.620 | 15,751.370 |
| Redeemed shares | -2,287.000 | -27,164.370 | -1,151,673.060 | -294,044.520 |
| Outstanding shares at end of reporting period | 362.900 | 10,040.000 | 516,371.330 | 121,814.380 |
|  | C2 shares | D shares | D1 shares | D2 shares |
|  | Unit | Unit | Unit | Unit |
| Outstanding shares at beginning of reporting period | 475,339.030 | 50,937.000 | 11,200.000 | 119,707.880 |
| Issued shares | 121,142.620 | 6,917.720 | 267.640 | 44,043.250 |
| Redeemed shares | -472,667.260 | -18,330.000 | -1,377.640 | -20,108.290 |
| Outstanding shares at end of reporting period | 123,814.390 | 39,524.720 | 10,090.000 | 143,642.840 |
|  | R shares | R1 shares | R2 shares |  |
|  | Unit | Unit | Unit |  |
| Outstanding shares at beginning of reporting period | 105,063.340 | 202,162.520 | 19,791.260 |  |
| Issued shares | 13,676.620 | 65,457.800 | 229,956.340 |  |
| Redeemed shares | -86,902.080 | -247,484.620 | -236,079.120 |  |
| Outstanding shares at end of reporting period | 31,837.880 | 20,135.700 | 13,668.480 |  |

| Statement of operations |  |
| --- | --- |
| during the reporting period from 1 January 2021 to 31 December 2021 |
|  | Total | A shares | A1 shares | A2 shares |
|  | USD | USD | USD | USD |
| Income |  |  |  |  |
| Interest on bonds | 26,129,131.20 | 1,333,254.34 | 424,950.88 | 3,385,935.91 |
| Bank interest | -36,423.11 | -1,874.79 | -596.87 | -4,531.14 |
| Income from securities lending | 29,917.95 | 1,872.55 | 608.42 | 3,858.99 |
| Income from securities lending compensation payments 1) | 257,728.13 | 12,494.31 | 3,789.32 | 31,174.92 |
| Income from swing pricing 1) | 1,859,439.33 | 129,259.86 | 40,859.22 | 164,310.99 |
| Other income | 204,346.82 | 9,698.84 | 3,070.24 | 26,085.84 |
| Income adjustment | -16,039,162.26 | -225,447.48 | -71,541.32 | -2,789,755.21 |
| Total income | 12,404,978.06 | 1,259,257.63 | 401,139.89 | 817,080.30 |
| Expenses |  |  |  |  |
| Interest expenses | -33,946.42 | -1,652.00 | -533.08 | -4,441.06 |
| Flat-rate fee | -4,478,978.69 | -301,740.42 | -96,400.00 | -764,989.00 |
| Taxe d’abonnement | -88,608.98 | -11,233.19 | -3,545.46 | -25,203.19 |
| Publication and examination costs | -143,862.52 | -7,098.18 | -2,224.65 | -18,917.49 |
| Typesetting, printing and shipping costs of annual and semi-annual reports | -7,881.87 | -417.12 | -132.43 | -1,095.15 |
| Registrar and transfer agent fee | -17,939.35 | -908.41 | -289.36 | -2,386.64 |
| Government fees | -4,914.26 | -233.58 | -73.66 | -633.91 |
| Other expenses 2) | -893,252.28 | -39,872.89 | -16,056.54 | -130,900.13 |
| Expense adjustment | 3,266,748.51 | 58,070.98 | 19,140.43 | 746,378.76 |
| Total expenses | -2,402,635.86 | -305,084.81 | -100,114.75 | -202,187.81 |
| Ordinary net income | 10,002,342.20 | 954,172.82 | 301,025.14 | 614,892.49 |
| Total transaction costs in the financial year1) | 456,083.28 |  |  |  |
| Total expense ratio as a percentage 1) |  | 1.57 | 1.61 | 1.62 |
| Swiss total expense ratio without performance fee as a percentage 2) |  | 1.57 | 1.61 | 1.62 |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |
| Swiss total expense ratio with performance fee as a percentage 2) |  | 1.57 | 1.61 | 1.62 |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |
| Swiss performance fee as a percentage 2) |  | - | - | - |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |


## 1)  See notes to the report.

## 2)  The item is essentially composed of general management costs and collateral management costs.
| Statement of operations |  |  |  |  |
| --- | --- | --- | --- | --- |
| during the reporting period from 1 January 2021 to 31 December 2021 |  |  |  |  |
|  | B shares | B1 shares | B2 shares | C shares |
|  | USD | USD | USD | USD |
| Income |  |  |  |  |
| Interest on bonds | 82,192.03 | 3,583.61 | 110,730.83 | 10,874,120.26 |
| Bank interest | -115.15 | -5.05 | -150.79 | -14,837.24 |
| Income from securities lending | 133.78 | 3.95 | 126.19 | 13,711.43 |
| Income from securities lending compensation payments 1) | 699.96 | 17.16 | 955.92 | 101,061.74 |
| Income from swing pricing 1) | 9,181.45 | 223.72 | 8,540.06 | 882,888.77 |
| Other income | 547.92 | 20.68 | 785.68 | 79,432.26 |
| Income adjustment | 1,482.40 | -1,501.71 | -47,130.42 | -6,687,997.87 |
| Total income | 94,122.39 | 2,342.36 | 73,857.47 | 5,248,379.35 |
| Expenses |  |  |  |  |
| Interest expenses | -96.12 | -2.42 | -132.94 | -13,567.92 |
| Flat-rate fee | -18,667.70 | -787.06 | -24,866.83 | -1,737,145.84 |
| Taxe d’abonnement | -715.63 | -17.44 | -859.40 | -16,418.29 |
| Publication and examination costs | -416.77 | -21.56 | -564.84 | -59,113.06 |
| Typesetting, printing and shipping costs of annual and semi-annual reports | -25.69 | -1.69 | -34.23 | -3,347.33 |
| Registrar and transfer agent fee | -55.89 | -2.59 | -75.87 | -7,499.16 |
| Government fees | -13.62 | -0.89 | -19.23 | -1,976.88 |
| Other expenses 1) | -2,466.97 | -151.18 | -4,462.15 | -322,043.09 |
| Expense adjustment | -386.16 | 407.74 | 12,364.06 | 1,232,151.48 |
| Total expenses | -22,844.55 | -577.09 | -18,651.43 | -928,960.09 |
| Ordinary net income | 71,277.84 | 1,765.27 | 55,206.04 | 4,319,419.26 |
| Total expense ratio as a percentage 1) | 1.57 | 1.66 | 1.62 | 1.14 |
| Swiss total expense ratio without performance fee as a percentage 2) | 1.57 | 1.66 | 1.62 | 1.14 |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |
| Swiss total expense ratio with performance fee as a percentage 2) | 1.57 | 1.66 | 1.62 | 1.14 |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |
| Swiss performance fee as a percentage 2) | - | - | - | - |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |


## 1)  See notes to the report.

## 2)  The item is essentially composed of general management costs and collateral management costs.
| Statement of operations |  |  |  |  |
| --- | --- | --- | --- | --- |
| during the reporting period from 1 January 2021 to 31 December 2021 |  |  |  |  |
|  | C1 shares | C2 shares | D shares | D1 shares |
|  | USD | USD | USD | USD |
| Income |  |  |  |  |
| Interest on bonds | 2,618,670.44 | 3,559,270.85 | 305,254.60 | 64,834.09 |
| Bank interest | -3,652.35 | -4,943.12 | -428.65 | -89.66 |
| Income from securities lending | 2,316.62 | 3,206.15 | 414.67 | 100.71 |
| Income from securities lending compensation payments 1) | 26,306.24 | 38,813.70 | 2,594.88 | 524.04 |
| Income from swing pricing 1) | 140,606.61 | 199,895.22 | 28,649.64 | 6,733.97 |
| Other income | 22,319.68 | 30,406.93 | 2,226.37 | 431.80 |
| Income adjustment | -1,672,212.84 | -2,509,726.26 | -57,714.03 | -5,915.32 |
| Total income | 1,134,354.40 | 1,316,923.47 | 280,997.48 | 66,619.63 |
| Expenses |  |  |  |  |
| Interest expenses | -3,619.38 | -4,626.04 | -372.22 | -78.21 |
| Flat-rate fee | -418,385.73 | -566,605.38 | -48,881.21 | -10,373.59 |
| Taxe d’abonnement | -3,913.82 | -5,284.20 | -503.62 | -107.14 |
| Publication and examination costs | -14,340.04 | -20,506.55 | -1,595.75 | -332.54 |
| Typesetting, printing and shipping costs of annual and semi-annual reports | -766.38 | -1,074.92 | -93.78 | -20.85 |
| Registrar and transfer agent fee | -1,795.90 | -2,443.21 | -209.22 | -44.51 |
| Government fees | -532.60 | -736.75 | -54.62 | -11.04 |
| Other expenses 2) | -99,938.58 | -137,927.87 | -8,991.64 | -2,421.64 |
| Expense adjustment | 333,472.07 | 495,728.00 | 10,907.59 | 1,111.62 |
| Total expenses | -209,820.36 | -243,476.92 | -49,794.47 | -12,277.90 |
| Ordinary net income | 924,534.04 | 1,073,446.55 | 231,203.01 | 54,341.73 |
| Total expense ratio as a percentage 2) | 1.20 | 1.20 | 1.14 | 1.19 |
| Swiss total expense ratio without performance fee as a percentage 2) | 1.20 | 1.20 | 1.14 | 1.19 |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |
| Swiss total expense ratio with performance fee as a percentage 2) | 1.20 | 1.20 | 1.14 | 1.19 |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |
| Swiss performance fee as a percentage 2) | - | - | - | - |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |


## 1)  See notes to the report.

## 2)  The item is essentially composed of general management costs and collateral management costs.
| Statement of operations |  |  |  |  |
| --- | --- | --- | --- | --- |
| during the reporting period from 1 January 2021 to 31 December 2021 |  |  |  |  |
|  | D2 shares | R shares | R1 shares | R2 shares |
|  | USD | USD | USD | USD |
| Income |  |  |  |  |
| Interest on bonds | 988,784.58 | 686,270.86 | 1,160,978.79 | 530,299.13 |
| Bank interest | -1,403.06 | -975.51 | -1,762.30 | -1,057.43 |
| Income from securities lending | 1,579.22 | 571.86 | 773.18 | 640.23 |
| Income from securities lending compensation payments 1) | 8,406.79 | 7,331.38 | 12,905.66 | 10,652.11 |
| Income from swing pricing 1) | 107,233.43 | 37,100.26 | 62,368.15 | 41,587.98 |
| Other income | 6,708.54 | 6,039.47 | 10,291.26 | 6,281.31 |
| Income adjustment | 38,422.13 | -431,868.83 | -1,099,817.03 | -478,438.47 |
| Total income | 1,149,731.63 | 304,469.49 | 145,737.71 | 109,964.86 |
| Expenses |  |  |  |  |
| Interest expenses | -1,138.75 | -986.41 | -1,654.85 | -1,045.02 |
| Flat-rate fee | -159,098.48 | -92,158.64 | -159,142.50 | -79,736.31 |
| Taxe d’abonnement | -1,705.38 | -5,120.80 | -10,185.31 | -3,796.11 |
| Publication and examination costs | -5,051.34 | -4,040.31 | -6,533.86 | -3,105.58 |
| Typesetting, printing and shipping costs of annual and semi-annual reports | -315.55 | -200.12 | -281.26 | -75.37 |
| Registrar and transfer agent fee | -679.24 | -458.36 | -749.12 | -341.87 |
| Government fees | -166.25 | -142.99 | -230.33 | -87.91 |
| Other expenses 2) | -37,465.59 | -20,364.01 | -44,563.35 | -25,626.65 |
| Expense adjustment | -6,826.01 | 74,999.17 | 195,247.69 | 93,981.09 |
| Total expenses | -212,446.59 | -48,472.47 | -28,092.89 | -19,833.73 |
| Ordinary net income | 937,285.04 | 255,997.02 | 117,644.82 | 90,131.13 |
| Total expense ratio as a percentage 1) | 1.19 | 1.04 | 1.09 | 1.09 |
| Swiss total expense ratio without performance fee as a percentage 2) | 1.19 | 1.04 | 1.09 | 1.09 |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |
| Swiss total expense ratio with performance fee as a percentage 2) | 1.19 | 1.04 | 1.09 | 1.09 |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |
| Swiss performance fee as a percentage 2) | - | - | - | - |
| (For the period from 1 January 2021 to 31 December 2021) |  |  |  |  |


## 1)  See notes to the report.

## 2)  The item is essentially composed of general management costs and collateral management costs.
| Performance as a percentage* |  |
| --- | --- |
| Version: 31/12/2021 |
| Fund | ISIN | Share class | 6 months | 1 year | 3 years | 10 years |
|  | WKN | currency |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - A shares | LU0816909013 | USD | -3.22 % | -0.29 % | 17.41 % | --- |
| since 12/10/2012 | A1J5H6 |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - A1 shares | LU0816909286 | CHF | -3.74 % | -1.36 % | 9.81 % | --- |
| since 12/10/2012 | A1J5H7 |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced- A2 shares | LU0816909369 | EUR | -3.56 % | -1.06 % | 10.93 % | --- |
| since 12/10/2012 | A1J5H8 |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - B shares | LU0816909443 | USD | -3.24 % | -0.30 % | 17.41 % | --- |
| since 27/05/2014 | A1J5H9 |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - B1 shares | LU0816909799 | CHF | -3.75 % | -1.66 % | 9.57 % | --- |
| since 27/05/2014 | A1J5JA |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced- B2 shares | LU0816909872 | EUR | -3.66 % | -1.19 % | 10.73 % | --- |
| since 27/05/2014 | A1J5JB |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - C shares | LU0816909955 | USD | -3.02 % | 0.13 % | 18.96 % | --- |
| since 12/10/2012 | A1J5JC |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - C1 shares | LU0816910292 | CHF | -3.56 % | -0.91 % | 11.29 % | --- |
| since 12/10/2012 | A1J5JD |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced- C2 shares | LU0816910375 | EUR | -3.53 % | -0.79 % | 12.13 % | --- |
| since 12/10/2012 | A1J5JE |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - D shares | LU0816910458 | USD | -3.03 % | 0.12 % | 18.96 % | --- |
| since 29/05/2013 | A1J5JF |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - D1 shares | LU0816910615 | CHF | -3.55 % | -0.94 % | 11.30 % | --- |
| since 04/08/2014 | A1J5JG |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced- D2 shares | LU0816910706 | EUR | -3.49 % | -0.79 % | 12.24 % | --- |
| since 22/08/2013 | A1J5JH |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - R shares | LU1004824014 | USD | -2.96 % | 0.25 % | 19.35 % | --- |
| since 26/03/2014 | A1XAWB |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - R1 shares | LU1004824287 | CHF | -3.58 % | -0.96 % | 0.24% ** | --- |
| since 02/03/2020 | A1XAWD |  |  |  |  |  |
| MainFirst - Emerging Markets Corporate Bond Fund Balanced - R2 shares | LU1004824444 | EUR | -3.45 % | -0.64 % | 3.34% ** | --- |
| since 26/08/2019 | A1XAWF |  |  |  |  |  |

* On the basis of published unit values (BVI method); the result corresponds to the “Guidelines on the calculation and publication of performance data of collective investment schemes” issued by the Swiss Funds & Asset Management Association on 16 May 2008.

## ** Since launch

## Past performance is not an indicator of current of future performance. The performance figures do not include the commissions and costs for the issue and redemption of units.

Translation (ENDE, 2021-12-31):
# Zurechnung auf die Aktienklassen
## A-Aktien

## Anteiliges Netto-Teilfondsvermögen	1.236.236,42 EUR

## Umlaufende Aktien	5.850,540

## Aktienwert	211,30 EUR

## C-Aktien

## Anteiliges Netto-Teilfondsvermögen	68.890.045,40 EUR

## Umlaufende Aktien	491.358,240

## Aktienwert	140,20 EUR

## 1)  Siehe Erläuterungen zum Bericht.

## 2)  Diese Position setzt sich im Wesentlichen zusammen aus der Pauschalgebühr und Risikomanagementvergütung.

## Die Erläuterungen sind integraler Bestandteil dieses Jahresberichtes.
| Veränderung des Netto-Teilfondsvermögens im Berichtszeitraum vom 1. Januar 2021 bis zum 31. Dezember 2021 |  |
| --- | --- |
|  | Total | A-Aktien | C-Aktien |
|  | EUR | EUR | EUR |
| Netto-Teilfondsvermögen zu Beginn des Berichtszeitraumes | 60.111.796,70 | 915.278,33 | 59.196.518,37 |
| Ordentlicher Nettoertrag | 923.859,50 | 10.703,84 | 913.155,66 |
| Ertrags- und Aufwandsausgleich | 89.514,43 | -56,72 | 89.571,15 |
| Mittelzuflüsse aus Aktienverkäufen | 117.045,66 | 117.045,66 | 0,00 |
| Mittelabflüsse aus Aktienrücknahmen | -9.244.336,15 | -95.852,87 | -9.148.483,28 |
| Realisierte Gewinne | 6.448.574,26 | 102.550,15 | 6.346.024,11 |
| Realisierte Verluste | -1.475.299,58 | -23.401,92 | -1.451.897,66 |
| Nettoveränderung nicht realisierter Gewinne | 8.417.278,62 | 137.144,42 | 8.280.134,20 |
| Nettoveränderung nicht realisierter Verluste | 4.737.848,38 | 72.825,53 | 4.665.022,85 |
| Netto-Teilfondsvermögen zum Ende des Berichtszeitraumes | 70.126.281,82 | 1.236.236,42 | 68.890.045,40 |
| Entwicklung der Anzahl der Aktien im Umlauf |  | A-Aktien | C-Aktien |
|  |  | Stück | Stück |
| Umlaufende Aktien zu Beginn des Berichtszeitraumes |  | 5.766,170 | 565.007,080 |
| Ausgegebene Aktien |  | 611,590 | 0,000 |
| Zurückgenommene Aktien |  | -527,220 | -73.648,840 |
| Umlaufende Aktien zum Ende des Berichtszeitraumes |  | 5.850,540 | 491.358,240 |

| Ertrags- und Aufwandsrechnung |  |
| --- | --- |
| im Berichtszeitraum vom 1. Januar 2021 bis zum 31. Dezember 2021 |
|  | Total | A-Aktien | C-Aktien |
|  | EUR | EUR | EUR |
| Erträge |  |  |  |
| Dividenden | 1.814.507,34 | 29.183,54 | 1.785.323,80 |
| Erträge aus Quellensteuerrückerstattung | 3.122,67 | 46,77 | 3.075,90 |
| Bankzinsen | -8.789,11 | -142,76 | -8.646,35 |
| Erträge aus Wertpapierleihe Kompensationszahlungen 1) | 64.603,58 | 1.113,86 | 63.489,72 |
| Sonstige Erträge | 25.520,94 | 411,81 | 25.109,13 |
| Ertragsausgleich | -143.639,72 | 404,14 | -144.043,86 |
| Erträge insgesamt | 1.755.325,70 | 31.017,36 | 1.724.308,34 |
| Aufwendungen |  |  |  |
| Zinsaufwendungen | -7.460,95 | -116,20 | -7.344,75 |
| Aufwendungen aus Wertpapierleihe | -244,72 | -3,15 | -241,57 |
| Pauschalgebühr | -753.167,46 | -17.351,55 | -735.815,91 |
| Taxe d’abonnement | -6.995,97 | -554,45 | -6.441,52 |
| Veröffentlichungs- und Prüfungskosten | -17.894,10 | -300,99 | -17.593,11 |
| Satz-, Druck- und Versandkosten der Jahres- und Halbjahresberichte | -1.584,37 | -25,24 | -1.559,13 |
| Register- und Transferstellenvergütung | -3.679,75 | -57,95 | -3.621,80 |
| Staatliche Gebühren | -6.474,71 | -109,70 | -6.365,01 |
| Sonstige Aufwendungen 2) | -88.089,46 | -1.446,87 | -86.642,59 |
| Aufwandsausgleich | 54.125,29 | -347,42 | 54.472,71 |
| Aufwendungen insgesamt | -831.466,20 | -20.313,52 | -811.152,68 |
| Ordentlicher Nettoertrag | 923.859,50 | 10.703,84 | 913.155,66 |
| Transaktionskosten im Geschäftsjahr gesamt 1) | 48.857,85 |  |  |
| Total Expense Ratio in Prozent 1) |  | 1,85 | 1,33 |
| Schweizer Total Expense Ratio ohne Performancevergütung in Prozent 1) |  | 1,85 | 1,33 |
| (für den Zeitraum vom 1. Januar 2021 bis zum 31. Dezember 2021) |  |  |  |
| Schweizer Total Expense Ratio mit Performancevergütung in Prozent 1) |  | 1,85 | 1,33 |
| (für den Zeitraum vom 1. Januar 2021 bis zum 31. Dezember 2021) |  |  |  |
| Schweizer Performancevergütung in Prozent 1) |  | - | - |
| (für den Zeitraum vom 1. Januar 2021 bis zum 31. Dezember 2021) |  |  |  |


## 1)  Siehe Erläuterungen zum Bericht.

## 2)  Die Position setzt sich im Wesentlichen zusammen aus allgemeinen Verwaltungskosten und Zahlstellengebühren.
| Wertentwicklung in Prozent* |  |
| --- | --- |
| Stand: 31. Dezember 2021 |
| Fonds | ISIN | Anteilklassen- | 6 Monate | 1 Jahr | 3 Jahre | 10 Jahre |
|  | WKN | währung |  |  |  |  |
| MainFirst - Euro Value Stars - A-Aktien | LU0152754726 | EUR | 14,57% | 33,12% | 69,47% | 152,39% |
| seit 17.10.2002 | 722755 |  |  |  |  |  |
| MainFirst - Euro Value Stars - C-Aktien | LU0152755707 | EUR | 14,87% | 33,82% | 72,18% | 165,54% |
| seit 17.10.2002 | 722756 |  |  |  |  |  |

* Auf Basis veröffentlichter Anteilwerte (BVI-Methode), entspricht im Ergebnis der Richtlinie zur “Berechnung und Publikation der Performance von kollektiven Kapitalanlagen“ der Swiss Funds & Asset Management Association vom 16. Mai 2008.
Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar. Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Anteile erhobenen Kommissionen und Kosten unberücksichtigt.