# Comgest Growth Europe ex Switzerland
#### SCHEDULE OF INVESTMENTS
As at 31 December 2019 (expressed in CHF)
| Quantity/ Security	Face value | Currency | Acquisition cost CHF | Fair Value CHF | % Net Assets |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Equity securities |  | 89,862,439 | 117,619,504 | 89.42 |

| Transferable securities admitted to an official stock exchange listing | 89,862,439 | 117,619,504 | 89.42 |
| --- | --- | --- | --- |
| Other transferable securities |  |  |  |
| Equity securities |  |  |  |
| Italy |  |  |  |
| Pharmaceuticals and cosmetics Amplifon SpA - Interim B	116,996 | EUR | 2,179,135 | 3,260,676 | 2.48 |
|  |  | 2,179,135 | 3,260,676 | 2.48 |

| Total Italy | 2,179,135 | 3,260,676 | 2.48 |
| --- | --- | --- | --- |
|  |  |  |  |
| Equity securities | 2,179,135 | 3,260,676 | 2.48 |
|  |  |  |  |
| Other transferable securities | 2,179,135 | 3,260,676 | 2.48 |
|  |  |  |  |
| Financial assets at fair value through profit or loss | 92,041,574 | 120,880,180 | 91.90 |
| Total financial derivative instrument (Note 6) |  | 45,937 | 0.03 |

Cash and other net assets	 10,621,555	8.07 
Total net assets attributable to holders of redeemable participating shares	 131,547,672	100.00 
% of Total Assets
Transferable securities admitted to an official stock exchange listing89.03
Other transferable securities2.47
Derivative instrument0.36
| Comgest Growth Europe ex UK |  |
| --- | --- |
| SCHEDULE OF INVESTMENTS As at 31 December 2019 (expressed in GBP) |
| Security | Quantity/ Face value | Currency | Acquisition cost GBP | Fair Value GBP | % Net Assets |
| Financial assets at fair value through profit and loss |  |  |  |  |  |

Transferable securities admitted to an official stock exchange listing Equity securities
Denmark
Biotechnology
| Chr Hansen Holding A/S | 41,328 | DKK | 2,607,106 | 2,480,941 | 1.82 |
| --- | --- | --- | --- | --- | --- |
|  |  |  | 2,607,106 | 2,480,941 | 1.82 |
| Internet software SimCorp A/S | 42,825 | DKK | 2,849,298 | 3,678,477 | 2.71 |
|  |  |  | 2,849,298 | 3,678,477 | 2.71 |
| Pharmaceuticals and cosmetics Ambu A/S | 99,260 | DKK | 1,352,772 | 1,257,232 | 0.92 |
| Coloplast A/S - B Shares | 34,808 | DKK | 2,853,850 | 3,261,801 | 2.40 |
| Novo Nordisk A/S - B Shares | 135,676 | DKK | 5,481,035 | 5,948,522 | 4.38 |
|  |  |  | 9,687,657 | 10,467,555 | 7.70 |
|  |  |  |  |  |  |
| Total Denmark |  |  | 15,144,061 | 16,626,973 | 12.23 |
| France |  |  |  |  |  |
| Healthcare education and social services Orpea | 20,014 | EUR | 1,883,136 | 1,938,352 | 1.43 |
|  |  |  | 1,883,136 | 1,938,352 | 1.43 |
| Internet software Dassault Systèmes SE | 36,016 | EUR | 4,080,392 | 4,472,329 | 3.29 |
|  |  |  | 4,080,392 | 4,472,329 | 3.29 |
| Pharmaceuticals and cosmetics EssilorLuxottica SA | 59,568 | EUR | 6,347,053 | 6,854,333 | 5.04 |
| L'Oreal SA | 18,235 | EUR | 3,569,387 | 4,079,079 | 3.00 |
| Sartorius Stedim Biotech | 23,496 | EUR | 2,330,133 | 2,940,538 | 2.16 |
|  |  |  | 12,246,573 | 13,873,950 | 10.20 |

Translation (ENDE, 2019-12-31):
# Comgest Growth Europe ex Switzerland
#### WESENTLICHE BESTANDSVERÄNDERUNGEN im Geschäftsjahr zum 31. Dezember 2019
| Käufe |  |  |  |
| --- | --- | --- | --- |
|  |  |  | Prozentualer Anteil |
| Wertpapier | Stück | Betrag (CHF) | Käufe |
| Novo Nordisk A/S – B-Aktien | 82.714 | 4.183.158 | 12,05 |
| Dassault Systèmes SE | 20.495 | 2.882.031 | 8,30 |
| Accenture PLC | 16.338 | 2.727.781 | 7,86 |
| ICON PLC | 18.341 | 2.702.777 | 7,78 |
| Amplifon SpA | 134.244 | 2.615.060 | 7,53 |
| Orpea | 16.163 | 1.807.352 | 5,20 |
| Heineken NV | 18.115 | 1.724.136 | 4,97 |
| LVMH Moët Hennessy Louis Vuitton SE | 3.715 | 1.387.183 | 3,99 |
| Chr Hansen Holding A.S | 15.988 | 1.283.663 | 3,70 |
| GRENKE AG | 12.298 | 1.170.386 | 3,37 |
| MTU Aero Engines AG | 5.679 | 1.127.973 | 3,25 |
| Amadeus IT Group SA – A-Aktien | 13.018 | 984.680 | 2,84 |
| SAP SE | 6.781 | 893.019 | 2,57 |
| EssilorLuxottica SA | 6.792 | 871.229 | 2,51 |
| Experian PLC | 27.381 | 727.150 | 2,09 |
| ASML Holding NV | 3.924 | 717.450 | 2,07 |
| Adyen NV | 1.023 | 709.807 | 2,04 |
| Assa Abloy AB | 34.735 | 685.022 | 1,97 |
| Davide Campari-Milano SpA | 67.326 | 607.612 | 1,75 |
| Wirecard AG | 3.647 | 568.069 | 1,64 |
| Fresenius SE & Co KGaA | 7.986 | 398.542 | 1,15 |
| Ambu A/S | 17.595 | 367.284 | 1,06 |
| Sartorius Stedim Biotech | 2.857 | 350.022 | 1,01 |

| Verkäufe 1 |  |  |  |
| --- | --- | --- | --- |
|  |  |  | Prozentualer Anteil |
| Wertpapier | Stück | Betrag (CHF) | Verkäufe |
| Wirecard AG | 36.076 | 4.701.338 | 14,00 |
| ASOS PLC | 100.188 | 3.951.463 | 11,77 |
| Rightmove PLC | 588.299 | 3.762.470 | 11,20 |
| Just Eat PLC | 395.231 | 3.701.112 | 11,02 |
| Coloplast A/S – B-Aktien | 22.548 | 2.477.436 | 7,38 |
| SAP SE | 19.416 | 1.942.593 | 5,78 |
| Edenred | 38.282 | 1.597.012 | 4,76 |
| Dassault Systèmes SE | 9.273 | 1.427.247 | 4,25 |
| Unilever NV | 26.265 | 1.380.864 | 4,11 |
| Assa Abloy AB | 65.754 | 1.357.069 | 4,04 |
| Amadeus IT Group SA – A-Aktien | 15.932 | 1.259.419 | 3,75 |
| Industria de Diseno Textil SA | 46.827 | 1.233.098 | 3,67 |
| Fresenius SE & Co KGaA | 17.686 | 962.817 | 2,87 |
| Eurofins Scientific SE | 2.066 | 798.973 | 2,38 |
| EssilorLuxottica SA | 5.181 | 726.225 | 2,16 |
| LVMH Moët Hennessy Louis Vuitton SE | 2.165 | 708.198 | 2,11 |
| Sartorius Stedim Biotech | 4.030 | 621.562 | 1,85 |
| Experian PLC | 20.391 | 606.521 | 1,81 |
| L'Oreal SA | 1.320 | 366.586 | 1,09 |

1 Steht für die gesamten Verkäufe im Geschäftsjahr.