# CARMIGNAC PORTFOLIO
## Unconstrained Global Bond

#### Financial Statements as at 31/12/19
Statement of net assets as at 31/12/19
Expressed in EUR
| Assets |  | 864,560,821.73 |
| --- | --- | --- |
| Securities portfolio at market value | Note 2 | 797,765,542.22 |
| Cost price |  | 804,233,314.34 |
| Unrealised loss on the securities portfolio |  | (6,467,772.12) |
| Options purchased at market value | Note 2 | 15,360.00 |
| Options purchased at cost |  | 718,400.00 |
| Cash at banks and liquidities |  | 51,105,655.63 |
| Interest receivable |  | 8,491,681.26 |
| Subscriptions receivable |  | 931,357.01 |
| Unrealised net appreciation on swaps | Note 2 | 6,251,225.61 |
| Liabilities |  | 18,443,957.23 |
| Options sold at market value | Note 2 | 15,360.00 |
| Options sold at cost |  | 1,116,000.00 |
| Bank overdrafts |  | 2,083,366.64 |
| Redemptions payable |  | 8,548,924.40 |
| Unrealised net depreciation on forward foreign exchange contracts | Note 2 | 3,732,141.02 |
| Unrealised net depreciation on financial futures | Note 2 | 2,044,237.75 |
| Other liabilities | Note 14 | 2,019,927.42 |
| Net asset value |  | 846,116,864.50 |

Key figures relating to the last 3 years
Year ending as at:	31/12/19	31/12/18	31/12/17
| Total Net Assets | EUR | 846,116,864.50 | 1,026,109,098.40 | 1,050,165,096.15 |
| --- | --- | --- | --- | --- |
| Class A EUR - Capitalisation Number of shares |  | 270,889 | 324,098 | 394,340 |
| Net asset value per share | EUR | 1,463.42 | 1,350.53 | 1,401.86 |
| Class Income A EUR - Distribution Number of shares |  | 40,054 | 55,878 | 29,928 |
| Net asset value per share | EUR | 98.30 | 93.86 | 101.14 |
| Class A EUR Y - Distribution Number of shares |  | 570,076 | 505,691 | 414,214 |
| Net asset value per share | EUR | 103.25 | 96.74 | 101.82 |
| Class A CHF Hedged - Capitalisation Number of shares |  | 96,773 | 103,541 | 102,687 |
| Net asset value per share | CHF | 117.46 | 108.90 | 113.64 |
| Class Income A CHF Hedged - Distribution Number of shares |  | 16,342 | 15,570 | 14,156 |
| Net asset value per share | CHF | 96.37 | 92.39 | 99.99 |
| Class A USD - Capitalisation Number of shares |  | 0 | 100 | 0 |
| Net asset value per share | USD | 0.00 | 88.35 | 0.00 |
| Class A USD Hedged - Capitalisation Number of shares |  | 179,824 | 192,306 | 164,055 |
| Net asset value per share | USD | 128.89 | 116.04 | 117.47 |

Key figures relating to the last 3 years
Year ending as at:	31/12/19	31/12/18	31/12/17
| Total Net Assets | EUR | 846,116,864.50 | 1,026,109,098.40 | 1,050,165,096.15 |
| --- | --- | --- | --- | --- |
| Class E EUR - Capitalisation Number of shares |  | 88,604 | 130,239 | 109,144 |
| Net asset value per share | EUR | 110.71 | 102.54 | 106.95 |
| Class E USD Hedged - Capitalisation Number of shares |  | 18,557 | 14,656 | 8,787 |
| Net asset value per share | USD | 141.49 | 127.85 | 130.21 |
| Class Income E USD Hedged - Distribution Number of shares |  | 15,573 | 2,821 | 1,976 |
| Net asset value per share | USD | 115.73 | 108.14 | 114.09 |
| Class F EUR - Capitalisation Number of shares |  | 1,556,983 | 2,460,371 | 1,838,973 |
| Net asset value per share | EUR | 137.28 | 126.24 | 130.81 |
| Class F EUR Y - Distribution Number of shares |  | 37,635 | 22,735 | 0 |
| Net asset value per share | EUR | 102.18 | 95.21 | 0.00 |
| Class F CHF Hedged - Capitalisation Number of shares |  | 791,649 | 811,542 | 802,167 |
| Net asset value per share | CHF | 133.15 | 122.99 | 127.77 |
| Class F USD Hedged - Capitalisation Number of shares |  | 53,724 | 29,200 | 22,403 |
| Net asset value per share | USD | 146.83 | 131.70 | 133.08 |
| Class W EUR - Capitalisation Number of shares |  | 92,646 | 773,300 | 750,000 |
| Net asset value per share | EUR | 105.19 | 96.65 | 99.86 |
| Class W GBP - Capitalisation Number of shares |  | 12,327 | 10,090 | 14,230 |
| Net asset value per share | GBP | 137.70 | 134.01 | 137.44 |
| Class Income W GBP - Distribution Number of shares |  | 38,470 | 48,970 | 0 |
| Net asset value per share | GBP | 93.78 | 94.46 | 0.00 |
| Class W GBP Hedged - Capitalisation Number of shares |  | 16,310 | 10,261 | 8,931 |
| Net asset value per share | GBP | 149.77 | 136.25 | 139.39 |
| Class Income W GBP Hedged - Distribution Number of shares |  | 821 | 4,855 | 25,833 |
| Net asset value per share | GBP | 102.63 | 96.67 | 102.46 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| Transferable securities admitted to an official stock exchan | ge listing	 743,280,719.82 | 87.85 |
| --- | --- | --- |
| Bonds | 596,038,105.81 | 70.45 |

| Australia |  | 167,043,711.06 | 19.75 |
| --- | --- | --- | --- |
| 50,000,000 AUSTRALIA 2.25 17-22 21/11S | AUD | 32,507,593.07 | 3.84 |
| 50,000,000 AUSTRALIA 2.75 12-24 21/04S | AUD | 33,622,131.07 | 3.97 |
| 30,000,000 AUSTRALIA 3.00 16-47 21/03S | AUD | 22,754,892.44 | 2.69 |
| 50,000,000 AUSTRALIA 5.50 11-23 21/04S | AUD | 35,938,566.56 | 4.26 |
| 50,000,000 COMMONWLTH BANK AUSTR 2.75 17-29 21/11S | AUD | 35,290,572.07 | 4.17 |
| 10,000,000 NSW TREASURY	3.00 16-30 20/02S | AUD | 6,929,955.85 | 0.82 |
| Austria |  | 15,848,850.00 | 1.87 |
| 10,000,000 AUSTRIA 2.10 17-17 20/09A	EUR | 15,848,850.00 | 1.87 |
| Bermuda | 5,299,465.75 | 0.63 |
| 7,166,660 SEADRILL NEW FINANCE LTD 12.00 18-25 15/07S	USD | 5,299,465.75 | 0.63 |
| Brazil | 3,246,168.10 | 0.38 |
| 3,447,000 AEGEA FINANCE SARL 5.75 17-24 10/10S	USD | 3,246,168.10 | 0.38 |
| Cayman Islands | 10,512,511.13 | 1.24 |
| 2,950,000 BANCO BTG PACTUAL	4.5 19-25 10/01S	USD | 2,660,584.63 | 0.31 |
| 9,205,000 SHELF DRILL HOLD LTD 8.25 18-25 15/02S	USD | 7,851,926.50 | 0.93 |
| Chile | 8,451,311.80 | 1.00 |
| 6,820,000,000 CHILE -DY-	4.50 16-21 01/03S | CLP | 8,451,311.80 | 1.00 |
| France |  | 25,933,250.00 | 3.06 |
| 35,000,000 REPUBLIQUE FRANCAISE 0.00 16-50 25/05U	EUR | 25,933,250.00 | 3.06 |
| Greece | 33,024,000.00 | 3.90 |
| 10,000,000 HELLENIC REPUBLIC  3.75 17-28 30/01A | EUR | 11,845,400.00 | 1.40 |
| 20,000,000 HELLENIC REPUBLIC GOVER 1.875 19-26 23/07A | EUR | 21,178,600.00 | 2.50 |
| Italy | 117,097,876.50 | 13.84 |
| 2,000,000 BANCA MONTE DEI  3.6250 19-24 24/09A	EUR | 2,044,670.00 | 0.24 |
| 35,000,000 ITALIAN REPUBLIC	0.4 19-30 15/05S	EUR | 34,848,814.46 | 4.12 |
| 20,000,000 ITALY 2.55 09-41 15/09S | EUR | 29,155,065.54 | 3.45 |
| 44,300,000 ITALY 3.00 19-29 01/02S | EUR | 51,049,326.50 | 6.03 |
| Luxembourg |  | 16,010,271.08 | 1.89 |
| 15,000,000 ABU DHABI GOVT | 3.1250 19-49 30/09S | USD | 13,006,236.08 | 1.53 |
| 3,000,000 BLACKSTONE PP | 1.7500 19-29 12/03A | EUR | 3,004,035.00 | 0.36 |
| Mexico |  |  | 23,069,900.50 | 2.73 |
| 4,900,000 PEMEX REGS | 3.125 13-20 27/11A | EUR | 5,026,665.00 | 0.59 |
| 5,000,000 PETROLEOS MEXIC	3.6250 18-25 24/11A | EUR | 5,190,350.00 | 0.61 |
| 6,800,000 PETROLEOS MEXICANO 2.50 17-21 21/08A | EUR | 7,001,518.00 | 0.84 |
| 5,500,000 PETROLEOS MEXICANOS 4.75 18-29 24/05A | EUR | 5,851,367.50 | 0.69 |
| The Netherlands	 4,971,477.00	0.59 |
| 2,200,000 TEVA PHARM FNC | 6.0000 19-25 31/01S | EUR | 2,331,417.00 | 0.28 |
| 3,375,000 TEVA PHARMA | 1.625 16-28 15/10A | EUR | 2,640,060.00 | 0.31 |
| Turkey |  |  | 18,311,747.44 | 2.16 |
| 6,000,000 REPUBLIC OF TURKEY 5.6 | 19-24 14/11S | USD | 5,448,347.44 | 0.64 |
| 6,000,000 TURKEY 4.625 19-25 31/03A |  | EUR | 6,357,000.00 | 0.75 |
| 6,000,000 TURKEY 5.20 18-26 16/02A |  | EUR | 6,506,400.00 | 0.77 |
| United Arab Emirates |  | 13,395,652.36 | 1.58 |
| 15,083,000 ABU DHABI GVT INTERN 2.50 19-29 30/09S | USD | 13,395,652.36 | 1.58 |
| United States of America	 133,821,913.09	15.83 |
| 220,500,000,000 INTER-AM.DEV.BK | 7.875 16-23 14/03A | IDR | 14,967,663.54 | 1.77 |
| 97,000,000,000 INTL BK RECON & | 7.4500 18-21 20/08A | IDR | 6,386,344.73 | 0.75 |
| 10,000,000 MURPHY OIL CORP | 5.75 17-25 15/08S | USD | 9,350,690.42 | 1.11 |
| 2,626,000 MURPHY OIL CORP | 6.125 12-42 01/12S | USD | 2,148,582.67 | 0.25 |
| 10,000,000 NETFLIX INC	3.6250 19-30 15/06S	EUR | 10,298,550.00 | 1.22 |
| 5,000,000 STANDARD INDUST  2.2500 19-26 21/11A	EUR | 5,163,400.00 | 0.61 |
| 96,000,000 USA TREASURY NOTES | 1.25 15-20 31/01S | USD | 85,506,681.73 | 10.12 |
| Floating rate bonds |  |  | 107,630,721.27 | 12.72 |
| Brazil | 12,941,608.91 | 1.53 |
| 14,150,000 ITAU UNIBANCO HOLDING FL.R 19-29 21/11S	USD | 12,941,608.91 | 1.53 |
| Cayman Islands | 4,532,249.45 | 0.54 |
| 5,000,000 BCO DO BRASIL CAYMAN FL.R 13-XX 15/04S	USD | 4,532,249.45 | 0.54 |
| Denmark | 3,218,010.00 | 0.38 |
| 3,000,000 DANSKE BANK EMTN  FL.R 15-XX 06/04S	EUR | 3,218,010.00 | 0.38 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| France |  |  | 32,303,446.95 | 3.81 |
| --- | --- | --- | --- | --- |
| 5,000,000 CASA TIER 1 EUR | FL.R 14-49 08/04Q | EUR | 5,412,800.00 | 0.64 |

| 5,000,000 EUROFINS SCIENTIFIC | FL.R 15-49 29/04A | EUR | 5,267,900.00 | 0.62 |
| --- | --- | --- | --- | --- |
| 2,287,000 EUROFINS SCIENTIFIC | FL.R 17-XX 13/11A | EUR | 2,245,490.95 | 0.27 |
| 8,800,000 LA BANQUE POSTALE | FL.R 19-XX 20/05S | EUR | 8,963,856.00 | 1.05 |
| 5,000,000 RCI BANQUE SA	FL.R 19-30 18/02A	EUR | 5,066,700.00 | 0.60 |
| 5,000,000 SOCIETE GENERALE REGS FL.R 14-XX 07/04S	EUR | 5,346,700.00 | 0.63 |
| Germany | 5,041,600.00 | 0.60 |
| 5,000,000 HTI FUNDING GMBH  FL.R 06-XX 30/06A | EUR | 5,041,600.00 | 0.60 |
| Greece |  | 6,441,900.00 | 0.76 |
| 6,000,000 PIRAEUS GROUP F  FL.R 19-29 26/06A | EUR | 6,441,900.00 | 0.76 |
| Hungary |  | 4,115,240.00 | 0.49 |
| 4,000,000 OTP BANK NYRT	FL.R 19-29 15/07A | EUR | 4,115,240.00 | 0.49 |
| Italy |  | 12,649,508.00 | 1.50 |
| 2,000,000 FINECO BANK SPA | FL.R 19-XX 03/12S | EUR | 2,152,100.00 | 0.25 |
| 6,300,000 INTESA SAN PAOLO | FL.R 17-XX 16/05S | EUR | 6,854,778.00 | 0.82 |
| 3,000,000 INTESA SAN PAOLO | FL.R 17-XX 11/07S | EUR | 3,642,630.00 | 0.43 |
| Luxembourg |  |  | 16,018,105.74 | 1.88 |
| 26,000,000 BANK OF NEW YORK	FL.R 09-50 15/12Q	EUR | 16,018,105.74 | 1.88 |
| Turkey | 5,236,602.22 | 0.62 |
| 3,800,000 TUKIYE GARANT BANKASI FL.R 17-27 25/04S	USD | 3,222,704.67 | 0.38 |
| 2,000,000 YAPI	FL.R  19-99 15/01S	USD | 2,013,897.55 | 0.24 |
| United Kingdom | 5,132,450.00 | 0.61 |
| 5,000,000 LLOYDS BANKING GR  FL.R 14-XX 27/06Q | EUR | 5,132,450.00 | 0.61 |
| Mortgage and asset backed securities |  | 39,611,892.74 | 4.68 |
| Ireland | 21,771,887.15 | 2.57 |
| 2,500,000 CIFCE 1X E FL.R	19-32 15/07Q	EUR | 2,447,853.50 | 0.29 |
| 2,200,000 CORDA 8X F	FL.R 17-30 23/04Q	EUR | 2,144,673.08 | 0.25 |
| 1,000,000 NEWHAVEN CLO	FL.R 17-30 15/02Q	EUR | 989,413.60 | 0.12 |
| 5,000,000 OCPE 2019-3XE	FL.R 19-30 20/04Q	EUR | 4,942,646.50 | 0.58 |
| 2,000,000 RYE HARBOUR CLO DAC FL.R 17-31 21/01Q | EUR | 1,954,555.40 | 0.23 |
| 2,900,000 RYE HARBOUR MBS  FL.R 17-31 21/04Q | EUR | 2,704,156.91 | 0.32 |
| 4,000,000 ST.PAULS'S CLO X DESIG FL.R 19-30 15/10Q | EUR | 3,999,642.40 | 0.47 |
| 2,700,000 TORO EUROPEAN CLO  FL.R 17-30 15/04Q | EUR | 2,588,945.76 | 0.31 |
| Morocco |  | 4,993,089.00 | 0.59 |
| 5,000,000 OCP EURO 2017-1 DAC FL.R 19-32 15/07Q | EUR | 4,993,089.00 | 0.59 |
| The Netherlands |  | 12,846,916.59 | 1.52 |
| 3,100,000 CRNCL 2016-7X F  FL.R 17-30 31/01Q | EUR | 3,092,240.39 | 0.37 |
| 5,000,000 DRYD 2017-27X E	FL.R 17-30 15/05Q | EUR | 4,952,793.50 | 0.59 |
| 3,000,000 JUBILEE CDO BV FL.R	19-32 15/06Q | EUR | 2,996,174.70 | 0.35 |
| 2,000,000 TIKEHAU	FLR  17-30 09/11Q	EUR | 1,805,708.00 | 0.21 |
| Other transferable securities | 11,060,324.21 | 1.31 |
| Bonds | 11,060,324.21 | 1.31 |
| The Netherlands | 4,588,627.34 | 0.54 |
| 2,500,000,000 JPM STRUCT PROD	0.00 17-46 10/10U	INR | 4,588,627.34 | 0.54 |
| United States of America | 6,471,696.87 | 0.77 |
| 1,500,000,000 JPMORGAN CHASE & CO 0.00 17-47 22/02U	MXN | 6,471,696.87 | 0.77 |
| Money market instruments |  | 43,424,498.19 | 5.13 |
| Bonds |  | 43,424,498.19 | 5.13 |
| Greece |  | 43,424,498.19 | 5.13 |
| 43,450,000 HELLENIC TBILL ZCP 03-04-20 | EUR | 43,424,498.19 | 5.13 |
| Total securities portfolio | 797,765,542.22 | 94.29 |

	The accompanying notes form an integral part of these financial statements	

#### Geographical breakdown

###### Breakdown per country	% of net assets
Australia	19.75
United States of America	16.60
Italy	15.34
Greece	9.79
France	6.87
Luxembourg	3.77
Turkey	2.78
Mexico	2.73
The Netherlands	2.65
Ireland	2.57
Brazil	1.91
Austria	1.87
Cayman Islands	1.78
United Arab Emirates	1.58
Chile	1.00
Bermuda	0.63
United Kingdom	0.61
Germany	0.60
Morocco	0.59
Hungary	0.49
Denmark	0.38

###### 	94.29

#### Economical breakdown

###### Breakdown per sector	% of net assets
Countries and central government	59.77
Banks and credit institutions	11.62
Holding and finance companies	7.24
Petroleum	5.65
Supranational	2.52
Cantons, Federal States, Provinces	1.58
Healthcare and social services	1.53
Internet and internet services	1.22
State	0.82
Miscellaneous services	0.62
Textiles and garments	0.61
Chemicals	0.59
Pharmaceuticals and cosmetics	0.27
Unit trusts	0.25
94.29
Statement of Operations and Changes in Net Assets from 01/01/19 to 31/12/19
Expressed in EUR
| Income |  | 31,039,822.09 |
| --- | --- | --- |
| Net interest on bonds |  | 28,835,595.82 |
| Bank interest on cash account |  | 113,808.18 |
| Other financial income |  | 27,180.09 |
| Interest on swaps |  | 2,050,753.23 |
| Securities lending income | Note 2, 7 | 12,484.77 |
| Expenses |  | 15,070,653.37 |
| Management fees | Note 3 | 7,484,553.70 |
| Custodian & sub-custodian fees | Note 4 | 156,434.78 |
| Taxe d'abonnement | Note 5 | 446,971.00 |
| Performance fees | Note 3 | 512,178.06 |
| Bank interest on overdrafts |  | 508,687.47 |
| Transaction fees | Note 6 | 170,432.47 |
| Interest on swaps |  | 4,596,434.99 |
| Operating and establishment fees | Note 4 | 1,194,960.90 |
| Net income from investments |  | 15,969,168.72 |
| Net realised profit / loss on: |  |  |
| - sales of investment securities | Note 2 | 71,497,049.38 |
| - options |  | (3,955,157.82) |
| - forward foreign exchange contracts |  | (16,858,952.45) |
| - financial futures |  | (6,017,260.82) |
| - swaps |  | 7,930,077.81 |
| - foreign exchange |  | 9,350,441.19 |
| Net realised profit |  | 77,915,366.01 |
| Movement in net unrealised appreciation / depreciation on: |  |  |
| - investments | Note 2 | (1,423,790.57) |
| - options |  | (462,454.31) |
| - forward foreign exchange contracts |  | (1,980,115.99) |
| - financial futures |  | (1,160,237.75) |
| - swaps |  | 3,854,589.61 |
| Increase in net assets as a result of operations |  | 76,743,357.00 |
| Dividends paid | Note 10 | (1,142,739.35) |
| Subscription capitalisation shares |  | 280,215,140.15 |
| Subscription distribution shares |  | 24,087,864.76 |
| Redemption capitalisation shares |  | (542,346,560.65) |
| Redemption distribution shares |  | (17,549,295.81) |
| Decrease in net assets |  | (179,992,233.90) |
| Net assets at the beginning of the year |  | 1,026,109,098.40 |
| Net assets at the end of the year |  | 846,116,864.50 |

The accompanying notes form an integral part of these financial statements

Translation (ENDE, 2019-12-31):
# CARMIGNAC PORTFOLIO
## Konsolidiert

##### Abschluss zum 31.12.2019
Aufstellung des Nettovermögens zum 31.12.2019
Ausgedrückt in EUR
| Aktiva |  | 8.526.201.846,34 |
| --- | --- | --- |
| Wertpapierportfolio zum Bewertungskurs | Erläuterung 2 | 7.827.728.767,13 |
| Anschaffungskosten |  | 7.574.187.077,90 |
| Nicht realisierter Gewinn aus dem Wertpapierportfolio |  | 253.541.689,23 |
| Zum Bewertungskurs erworbene Optionen | Erläuterung 2 | 4.905.489,62 |
| Zum Einstandspreis erworbene Optionen |  | 6.319.793,88 |
| Bankguthaben und liquide Mittel |  | 584.027.821,86 |
| Zinsforderungen |  | 47.336.199,83 |
| Forderungen gegenüber Brokern |  | 7.952.540,60 |
| Forderungen aus Zeichnungen |  | 24.854.209,26 |
| Dividendenforderungen |  | 903.261,09 |
| Nicht realisierter Nettogewinn aus Devisenterminkontrakten | Erläuterung 2 | 12.082.754,38 |
| Nicht realisierter Nettogewinn aus Futures | Erläuterung 2 | 4.768.852,79 |
| Nicht realisierter Nettogewinn aus Swaps | Erläuterung 2 | 10.262.544,49 |
| Sonstige Aktiva | Erläuterung 13 | 1.379.405,29 |
| Passiva |  | 280.275.742,68 |
| Zum Bewertungskurs verkaufte Optionen | Erläuterung 2 | 2.075.821,47 |
| Zum Einstandspreis verkaufte Optionen |  | 3.321.183,28 |
| Kontoüberziehungen |  | 51.018.287,94 |
| Verbindlichkeiten gegenüber Brokern |  | 129.961.414,11 |
| Verbindlichkeiten aus Rücknahmen |  | 29.247.323,77 |
| Nicht realisierter Nettoverlust aus Devisenterminkontrakten | Erläuterung 2 | 5.489.732,56 |
| Nicht realisierter Nettoverlust aus Futures | Erläuterung 2 | 3.859.791,81 |
| Nicht realisierter Nettoverlust aus Swaps | Erläuterung 2 | 22.975.998,42 |
| Sonstige Passiva | Erläuterung 14 | 35.647.372,60 |
| Nettoinventarwert |  | 8.245.926.103,66 |

Aufwands- und Ertragsrechnung und Veränderungen des Nettovermögens vom 01.01.2019 bis 31.12.2019
| Ausgedrückt in EUR |
| --- |
| Erträge |  | 185.839.435,83 |
| Nettodividenden |  | 42.295.440,16 |
| Nettozinsen aus Anleihen |  | 130.734.190,92 |
| Bankzinsen aus Sichteinlagen |  | 2.958.153,85 |
| Sonstige Finanzerträge |  | 1.772.530,56 |
| Zinsen aus Swapverträgen |  | 7.225.187,54 |
| Erträge aus Wertpapierleihe | Erläuterung 2, 7 | 853.932,80 |
| Aufwand |  | 151.660.030,11 |
| Verwaltungsgebühren | Erläuterung 3 | 73.779.033,82 |
| Depotbank- und Unterdepotbankgebühren | Erläuterung 4 | 1.433.760,21 |
| Taxe d’abonnement | Erläuterung 5 | 4.070.551,00 |
| Performancegebühren | Erläuterung 3 | 19.194.933,39 |
| Überziehungszinsen |  | 8.350.513,24 |
| Transaktionskosten | Erläuterung 6 | 8.728.597,47 |
| Dividendenaufwand |  | 7.174.546,51 |
| Zinsen aus Swapverträgen |  | 16.319.325,58 |
| Betriebs- und Gründungskosten | Erläuterung 4 | 12.608.768,89 |
| Nettoertrag aus Anlagen |  | 34.179.405,72 |
| Realisierter Nettogewinn/-verlust aus: |  |  |
| - Wertpapierverkäufen | Erläuterung 2 | 162.737.293,80 |
| - Optionen |  | (48.838.499,42) |
| - Devisenterminkontrakten |  | (69.282.878,72) |
| - Futures |  | (100.808.487,30) |
| - Swaps |  | 28.325.334,64 |
| - Wechselkursgeschäften |  | 131.796.625,76 |
| Realisierter Nettogewinn |  | 138.108.794,48 |
| Veränderung des nicht realisierten Nettogewinns/-verlusts aus: |  |  |
| - Anlagen | Erläuterung 2 | 623.979.147,64 |
| - Optionen |  | 12.767.859,44 |
| - Devisenterminkontrakten |  | 8.455.667,54 |
| - Futures |  | (2.301.369,48) |
| - Swaps |  | (55.596.231,44) |
| Zunahme des Nettovermögens gemäß Erfolgsrechnung |  | 725.413.868,18 |
| Ausgeschüttete Dividenden | Erläuterung 10 | (11.427.110,20) |
| Zeichnungen von thesaurierenden Aktien |  | 4.590.307.917,13 |
| Zeichnungen von ausschüttenden Aktien |  | 56.652.617,32 |
| Rücknahmen von thesaurierenden Aktien |  | (6.261.392.201,49) |
| Rücknahmen von ausschüttenden Aktien |  | (149.100.700,46) |
| Rückgang des Nettovermögens |  | (1.049.545.609,52) |
| Nettovermögen am Jahresanfang |  | 9.295.471.713,18 |
| Nettovermögen am Jahresende |  | 8.245.926.103,66 |