1 Semiannual report, including Unaudited Financial Statements as at 30th June 2016 UBAM Variable Capital Investment Comp...
Semi-annual report, including Unaudited Financial Statements as at 30th June 2016
UBAM Variable Capital Investment Company Luxembourg R.C.S. Luxembourg B 35 412
No subscription can be received on the basis of this report. Subscriptions are only valid if made on the basis of the current prospectus and the Key Investor Information Documents (KIIDs) supplemented by the subscription form, the latest annual report and the most recent semi-annual report, if published thereafter.
UBAM
Contents Organisation ....................................................................................................................................................5 Combined statement of net assets................................................................................................................9 Combined statement of operations and other changes in net assets .....................................................10 UBAM - CORPORATE EURO BOND ............................................................................................................12 UBAM - CORPORATE US DOLLAR BOND..................................................................................................22 UBAM - DYNAMIC EURO BOND...................................................................................................................36 UBAM - DYNAMIC US DOLLAR BOND ........................................................................................................44 UBAM - EMERGING MARKET BOND...........................................................................................................53 UBAM - EMERGING MARKET CORPORATE BOND ...................................................................................62 UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND ..........................................................74 UBAM - EURO BOND ....................................................................................................................................81 UBAM - GLOBAL AGGREGATE BOND .......................................................................................................88 UBAM - GLOBAL CREDIT OPPORTUNITIES ..............................................................................................94 UBAM - GLOBAL HIGH YIELD SOLUTION ................................................................................................102 UBAM - LOCAL CURRENCY EMERGING MARKET BOND ......................................................................112 UBAM - STERLING BOND ..........................................................................................................................119 UBAM - UNCONSTRAINED BOND .............................................................................................................123 UBAM - US DOLLAR BOND........................................................................................................................132 UBAM - EM INVESTMENT GRADE CORPORATE BOND .........................................................................139 UBAM - EUROPEAN CONVERTIBLE BOND..............................................................................................149 UBAM - EURO 10-40 CONVERTIBLE BOND .............................................................................................155 UBAM - GLOBAL CONVERTIBLE BOND...................................................................................................162 UBAM - GLOBAL 10-40 CONVERTIBLE BOND.........................................................................................167 UBAM - SRI EUROPEAN CONVERTIBLE BOND.......................................................................................172 UBAM - 30 GLOBAL LEADERS EQUITY....................................................................................................177 UBAM - ADAMS SMALL CAP EQUITY.......................................................................................................183 UBAM - ASIA EQUITY .................................................................................................................................190 UBAM - DR. EHRHARDT GERMAN EQUITY..............................................................................................196 UBAM - EUROPE EQUITY...........................................................................................................................202 UBAM - EUROPE EQUITY DIVIDEND+ ......................................................................................................210 UBAM - EUROPE EQUITY FLEX.................................................................................................................218 UBAM - EUROPEAN OPPORTUNITIES EQUITY .......................................................................................225 UBAM - GCM MIDCAP US EQUITY GROWTH ...........................................................................................230 UBAM - GLOBAL EMERGING EQUITY ......................................................................................................236 UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH ...............................................................................244 UBAM - GLOBAL EQUITY INCOME ...........................................................................................................250 UBAM - IFDC JAPAN OPPORTUNITIES EQUITY ......................................................................................255 UBAM - AJO US EQUITY VALUE ...............................................................................................................261 UBAM - RUSSIAN EQUITY..........................................................................................................................268 Page 3
UBAM
Contents (continued) UBAM - SNAM JAPAN EQUITY VALUE .....................................................................................................273 UBAM - SWISS EQUITY ..............................................................................................................................281 UBAM - SWISS SMALL AND MID CAP EQUITY ........................................................................................288 UBAM - TURKISH EQUITY ..........................................................................................................................293 UBAM - EURO EQUITY INCOME ................................................................................................................298 UBAM - MULTIFUNDS ALLOCATION 30 ...................................................................................................303 UBAM - MULTIFUNDS ALLOCATION 50 ...................................................................................................308 UBAM - MULTIFUNDS ALLOCATION 70 ...................................................................................................313 UBAM - MULTIFUNDS ALTERNATIVE.......................................................................................................318 UBAM - ASYMMETRY 50 EUR....................................................................................................................324 UBAM - ASYMMETRY 50 USD....................................................................................................................330 Notes to the financial statements ..............................................................................................................335
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UBAM
Organisation REGISTERED OFFICE 287-289 route d’Arlon L-1150 Luxembourg Grand Duchy of Luxembourg BOARD OF DIRECTORS OF THE SICAV Mr. Pierre BERGER
Managing Director UBP Gestion Institutionnelle SA Geneva, Switzerland Chairman of the Board of Directors
Mr. Daniel VAN HOVE
Managing Director Orionis Management S.A. Luxembourg, Grand Duchy of Luxembourg Director
Mr. Christian ASSEL
Managing Director UBP Asset Management (Europe) S.A. Luxembourg, Grand Duchy of Luxembourg Director
MANAGEMENT COMPANY UBP Asset Management (Europe) S.A. 287-289 route d’Arlon L-1150 Luxembourg Grand Duchy of Luxembourg MANAGEMENT COMPANY’S BOARD OF DIRECTORS Mr. André GIGON
Senior Managing Director Union Bancaire Privée, UBP SA 96-98, rue du Rhône, CH-1211 Genève 1 Switzerland Chairman of the Board of Directors
Mr. Ian CRAMB
Executive Managing Director Union Bancaire Privée, UBP SA 96-98, rue du Rhône, CH-1211 Genève 1 Switzerland
Mr. Christian ASSEL
Managing Director UBP Asset Management (Europe) S.A. 287-289, route d’Arlon, L-1150 Luxembourg Grand Duchy of Luxembourg
Ms. Isabelle ASSERAY
Managing Director UBP Asset Management (Europe) S.A. 287-289, route d’Arlon, L-1150 Luxembourg Grand Duchy of Luxembourg
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UBAM
Organisation (continued) Mr. Patrick PALFFY
Managing Director Union Bancaire Privée, UBP SA 96-98, rue du Rhône, CH-1211 Genève 1 Switzerland
MANAGEMENT COMPANY’S CONDUCTING OFFICERS Mr. Christian ASSEL
Managing Director UBP Asset Management (Europe) S.A. 287-289, route d’Arlon, L-1150 Luxembourg Grand Duchy of Luxembourg
Ms. Isabelle ASSERAY
Managing Director UBP Asset Management (Europe) S.A. 287-289, route d’Arlon, L-1150 Luxembourg Grand Duchy of Luxembourg
Mr. Pierre BERGER
Managing Director UBP Gestion Institutionnelle SA 8, rue Robert-Estienne, CH-1211 Genève 1 Switzerland
Sub-fund
Management delegated to:
UBAM - GLOBAL 10-40 CONVERTIBLE BOND UBAM - EUROPEAN CONVERTIBLE BOND UBAM - EURO 10-40 CONVERTIBLE BOND UBAM - GLOBAL CONVERTIBLE BOND UBAM - SRI EUROPEAN CONVERTIBLE BOND
Union Bancaire Gestion Institutionnelle (France) SAS Paris, France
UBAM - ADAMS SMALL CAP EQUITY
Adams Funds Advisers LLC Baltimore, United States of America UBP Asset Management Asia Limited Hong Kong
UBAM - ASIA EQUITY
DJE Kapital AG Pullach, Germany Geneva Capital Management Ltd Milwaukee, United States of America IFDC Limited London, United Kingdom AJO LP Philadelphia, United States of America (former Manager :Neuberger Berman LLC, NewYork, United States of America) Sompo Japan Nipponkoa Asset Management Co, Ltd Tokyo, Japan Union Bancaire Privée, UBP SA Geneva, Switzerland (using the resources of its London and Zurich branches)
UBAM - DR. EHRHARDT GERMAN EQUITY UBAM - GCM MIDCAP US EQUITY GROWTH UBAM - IFDC JAPAN OPPORTUNITIES EQUITY UBAM - AJO US EQUITY VALUE (formerly UBAM NEUBERGER BERMAN US EQUITY VALUE) UBAM - SNAM JAPAN EQUITY VALUE ALL OTHERS SUB-FUNDS
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UBAM
Organisation (continued) CUSTODIAN BANK Union Bancaire Privée (Europe) S.A. 287-289 route d’Arlon L-1150 Luxembourg Grand Duchy of Luxembourg ADMINISTRATIVE AGENT, REGISTRAR AND TRANSFER AGENT BY DELEGATION CACEIS Bank Luxembourg 5, allée Scheffer L-2520 Luxembourg Grand Duchy of Luxembourg GENERAL DISTRIBUTOR, REPRESENTATIVE AND PAYING AGENT IN SWITZERLAND Union Bancaire Privée, UBP SA 96-98 rue du Rhône P.O. Box 1320 CH-1211 Genève 1 Switzerland CABINET DE REVISION AGREE Deloitte Audit, Société à responsabilité limitée 560, rue de Neudorf L-2220 Luxembourg Grand Duchy of Luxembourg INFORMATION ON THE MAIN REPRESENTATIVE OFFICES ABROAD The information documents concerning the SICAV, including the articles of incorporation, the prospectus and the Key Investor Information Documents (KIIDs), the annual reports and audited financial statements and semi-annual unaudited reports and the statement of changes in investments for the period referring to this report are available free of charge at the registered office of the SICAV, 287-289 route d’Arlon, L-1150 Luxembourg and at the office of the following financial intermediaries:
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UBAM
Organisation (continued) - General distributor, representative and paying agent in Switzerland Union Bancaire Privée, UBP SA, 96-98, rue du Rhône, P.O. Box 1320, CH-1211 Genève 1 Tel: + 41 (0) 58 819 21 11 Payment services, execution place and jurisdiction place are established, for the shares distributed in Switzerland, in the place here-above mentioned. Supplementary information concerning the distribution of the different types and classes of shares of the SICAV in Switzerland are specified in the prospectus and the Key Investor Information Documents (KIIDs). Information in Switzerland concerning the SICAV are published on the electronic platform Swiss Fund Data (www.swissfunddata.ch). The subscription and redemption prices of the shares of the different sub-funds are published daily on the said electronic platform at the time of each issue and redemption. Investors liable to a tax in Switzerland are hereby informed that transactions made in the SICAV’s shares may be subject to a different tax treatment depending on the canton in which the investor is taxed. Potential investors in the SICAV’s shares must nevertheless inquire about the legislation and rules applicable to the acquisition, holding, selling and redemption of shares, in the light of their place of residence. Additional information for Swiss investors in accordance with the Guidelines on Duties Regarding the Charging and Use of Fees and Cost of 22 May 2014 of the Swiss Funds & Asset Management Association (SFAMA) : Retrocessions for the commercialisation of the SICAV to distributors and investment managers are taken directly from the management and advisory fees. Rebates from the management and advisory fees are granted to direct investors who meet certain conditions and request to be paid such rebate as set forth in the relevant section of the prospectus. - Paying agent and information place in Germany SAL. OPPENHEIM JR. & CIE. AG & Co., 4, Unter Sachsenhausen, D-50667 Cologne - Paying agent in Austria ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG, Graben 21, A-1010 Vienna - Financial agent in Belgium CACEIS BELGIUM FUND ADMINISTRATION SERVICE & TECHNOLOGY NETWORK BELGIUM (FASTNET) Avenue du Port, 86 C b320, B-1000 Brussels - Official distributor agent in Spain ALLFUNDS BANKS S.A., Nuria 57, E-28034 Madrid The information documents concerning the SICAV can be obtained by the shareholders from the distributor agent or from UBP GESTION INSTITUCIONAL S.A., Avenida Diagonal 520, 2°2aB, E-08006 Barcelona. - Correspondent bank in France CACEIS BANK, 1-3, Place Valhubert, F-75206 Paris Cedex 13 The correspondent is also in charge of the subscriptions / redemptions processing and of the dividend payments of the shares of the SICAV. - Paying agents in Italy Allfunds Bank S.A, via Santa Margherita 7, I-20121 Milan State Street Bank S.p.A, Via Ferrante Aporti 10, I-20125 Milan - Official distributor agent in Portugal BEST - Banco Electronico de Serviço Total, S.A., Praça Marquês de Pombal, no. 3 - 3°, 1250-161 Lisbon - Representative in United Kingdom UNION BANCAIRE PRIVEE, UBP SA, 26 St James's Square, GB-London SW1Y4JH - Distributor agent in Singapore UNION BANCAIRE PRIVEE (Singapore) Ltd, OUE Bayfront, 50 Collyer Quay #08-03, SG-Singapore 049321 - Distributor agent in Sweden MFEX Mutual Funds Exchange AB, Linnégatan 9-11, SE Stockholm 114 47 (formerly Carnegie Investment Bank AB, Gustav Adolfs Torg 18, SE Stockholm 103 38 )
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UBAM Combined
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
12,236,408,338.93
Securities portfolio at market value Options contracts at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Formation expenses, net Receivable on sales of securities Receivable on issues of shares Dividends receivable Unrealised gain on forward foreign exchange contracts Unrealised gain on futures contracts Unrealised gain on swap contracts Receivable on treasury transactions Receivable on swap contracts Other receivables
Note 2 Note 2, 11
Note 2 Note 2
Note 2, 8 Note 2, 9 Note 2, 10 Note 2
Liabilities
11,464,903,916.75 65,105.82 17,801,873.44 406,183,763.54 19,840,692.23 5,422,025.36 41,966,523.75 10,069.68 34,453,272.91 96,410,750.14 2,216,172.50 4,213,499.61 1,520,215.76 139,593,759.58 517.21 1,306,137.81 500,042.84 410,338,182.53
Short option contracts at market value Bank liabilities Other liquid liabilities Payable on purchases of securities Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Unrealised loss on futures contracts Unrealised loss on swap contracts Payable on treasury transactions Payable on swap contracts Interest payable on bank liabilities and expenses payable
Note 2, 11
Note 2, 8 Note 2, 9 Note 2, 10 Note 2
Net assets at the end of the period
3,225,582.91 20,742,834.92 119,611,051.63 134,144,520.28 9,473,786.05 93,088,773.08 2,426,349.51 2,581,843.98 15,321.56 2,136,124.44 22,891,994.17 11,826,070,156.40
The accompanying notes are an integral part of these financial statements.
Page 9
UBAM Combined Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
241,731,240.73
Dividends, net Interest on bonds and other debt securities, net Interest on bank accounts Bank interest on time deposits Interest received on swap contracts Other income
Note 2 Note 2
Note 2
Expenses
56,228,500.55 69,624,502.40 164,093.49 21.40 115,686,318.65 27,804.24 76,158,469.11
Amortisation of formation expenses Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Performance fees Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5 Note 4
Note 2 Note 6, 7 Note 2
Net investment income
21,538.13 36,357,503.14 9,309,916.88 1,857,288.43 6,098,504.69 119,553.23 124,521.46 127,321.44 202,204.38 7,987,921.63 3,142,446.68 26,228.15 10,217,476.52 566,044.35 165,572,771.62
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-122,600,891.80 3,935,535.66 -16,577,076.10 -5,151,546.95 12,557,742.10 -3,487,220.07 34,249,314.46
Net variation of the unrealised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2 Note 2
Result of operations
-240,019,056.32 1,153,084.99 -73,092,208.75 -1,270,677.11 5,351,517.39 -273,628,025.34
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-72,670,083.66 3,740,974,759.45 585,974,230.34 -3,987,148,746.47 -369,647,525.82 -376,145,391.50
Revaluation difference
Note 2
The accompanying notes are an integral part of these financial statements.
Page 10
-42,438,809.11
UBAM Combined Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Total net assets at the beginning of the period
12,244,654,357.01
Net assets at the end of the period
11,826,070,156.40
The accompanying notes are an integral part of these financial statements.
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UBAM - CORPORATE EURO BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
185,014,254.74
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Unrealised gain on futures contracts Receivable on swap contracts Other receivables
Note 2
162,029,054.17 24,629.59 19,753,418.54 1,035,517.53 3,367.54 1,797,500.69 330,968.72 34,545.96 5,252.00
Note 2 Note 2, 9
Liabilities
4,931,576.19
Other liquid liabilities Payable on purchases of securities Unrealised loss on forward foreign exchange contracts Unrealised loss on swap contracts Payable on swap contracts Interest payable on bank liabilities and expenses payable
306,094.06 3,703,787.78 408,191.00 188,116.71 16,776.00 308,610.64
Note 2, 8 Note 2, 10
Net assets at the end of the period
180,082,678.55
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares Distribution shares
AH USD shares
Capitalisation shares
AS shares
Capitalisation shares
I shares
Capitalisation shares Distribution shares
IH CHF shares
Capitalisation shares
IH GBP shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
655,834.175
98,719.002
146,488.768
608,064.409
47,088.852
43,959.000
21,531.236
69,516.616
12,961.000
2,050.000
1,645.000
13,366.000
0.000
3,012.000
0.000
3,012.000
8,212.000
2,570.374
4,595.000
6,187.374
35,685.094
2,190.000
9,368.536
28,506.558
227,513.636
78,666.759
147,583.829
158,596.566
163.000
0.000
163.000
0.000
14,463.230
45,860.000
900.000
59,423.230
75,512.000
0.000
350.000
75,162.000
The accompanying notes are an integral part of these financial statements.
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Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - CORPORATE EURO BOND Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
IS shares
Capitalisation shares
U shares
Distribution shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
22,710.000
0.000
22,710.000
0.000
4,590.000
3,176.000
0.000
7,766.000
3,553.189
911.258
490.724
3,973.723
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
AS shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
180,082,678.55
193,321,334.53
232,648,255.25
EUR
EUR
EUR
608,064.409 190.28
655,834.175 183.37
796,713.434 185.65
69,516.616 106.87 2.41
47,088.852 105.33 2.86
70,279.852 109.46 3.61
CHF
CHF
CHF
13,366.000 276.77
12,961.000 267.51
6,666.000 274.07
3,012.000 104.07
-
-
USD
USD
USD
6,187.374 108.96
8,212.000 104.47
7,768.000 105.39
EUR
EUR
EUR
28,506.558 99.77
35,685.094 99.94
38,265.000 102.27
The accompanying notes are an integral part of these financial statements.
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UBAM - CORPORATE EURO BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
IS shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
180,082,678.55
193,321,334.53
232,648,255.25
EUR
EUR
EUR
158,596.566 203.00
227,513.636 195.29
250,427.982 197.05
-
163.000 183.93 4.98
24,938.000 190.48 6.25
CHF
CHF
CHF
59,423.230 101.46
14,463.230 97.90
-
GBP
GBP
GBP
75,162.000 116.63
75,512.000 111.75
67,087.000 111.95
EUR
EUR
EUR
-
22,710.000 100.71
61,556.250 102.65
EUR
EUR
EUR
-
-
137.000 196.67
7,766.000 101.31 2.44
4,590.000 99.93 -
-
EUR
EUR
EUR
3,973.723 174.65
3,553.189 168.90
4,755.932 172.20
The accompanying notes are an integral part of these financial statements.
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UBAM - CORPORATE EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
1,250,000 500,000 650,000 400,000 200,000 2,000,000 500,000 800,000 235,000 500,000 300,000 1,400,000 950,000 300,000 500,000 350,000 250,000 400,000 1,300,000 1,000,000 1,800,000 700,000 250,000 250,000 500,000 1,000,000 900,000 1,000,000 1,200,000 1,150,000 900,000 500,000 450,000 400,000 500,000 200,000 500,000 600,000 500,000 1,000,000 750,000 400,000 200,000 500,000 500,000 300,000 600,000 1,400,000 1,500,000 1,540,000 350,000 500,000 600,000 750,000 500,000 600,000 1,000,000 600,000 500,000 200,000 300,000 1,000,000
Market value
Unaudited accrued Interest
% of total net assets
155,645,951.35
159,487,611.17
1,795,386.98
88.56
112,049,897.55
115,844,335.92
1,106,688.32
64.32
112,049,897.55 1,247,000.00 497,495.00 822,688.02 398,948.00 217,378.00 1,996,400.00 501,130.66 888,000.00 233,496.00 567,735.14 291,174.67 1,437,800.21 1,103,025.71 300,489.00 505,965.00 357,525.00 249,365.00 419,372.75 1,324,092.47 1,077,070.00 1,809,094.81 695,756.15 260,660.00 248,972.50 532,320.00 1,127,000.00 949,050.00 997,900.00 1,196,438.00 1,158,120.03 878,348.69 518,250.00 442,058.01 400,000.00 504,800.00 208,686.78 499,340.00 675,073.50 497,700.00 1,006,585.00 789,427.50 443,112.38 208,292.63 605,500.00 502,915.30 301,350.75 664,914.98 1,593,382.83 1,747,785.66 1,545,005.00 351,793.40 505,200.00 596,358.97 747,240.00 499,210.00 604,126.00 1,062,430.55 757,398.33 486,145.00 330,950.00 415,869.00 1,057,000.00
115,844,335.92 1,294,587.50 563,920.00 818,382.50 408,168.00 227,104.00 2,020,820.00 525,625.00 887,256.00 241,396.70 580,500.00 306,519.00 1,477,532.00 1,226,222.00 309,111.00 586,060.00 364,525.00 299,928.00 428,948.00 1,365,676.00 1,085,330.00 1,840,374.00 697,431.00 302,855.00 250,642.50 545,380.00 1,125,280.00 974,205.00 1,015,690.00 1,219,209.60 1,175,955.50 916,821.00 580,125.00 461,304.00 416,940.00 586,400.00 215,512.00 515,610.00 696,216.00 513,600.00 1,040,210.00 818,940.00 451,264.00 205,384.00 598,805.00 511,730.00 301,452.00 675,540.00 1,609,734.00 1,736,625.00 1,546,237.00 370,629.00 547,020.00 616,548.00 801,450.00 568,750.00 685,434.00 1,053,990.00 922,230.00 522,890.00 346,132.00 442,158.00 1,083,000.00
1,106,688.32 11,475.41 4,234.97 45,786.69 139.73 4,862.70 33,777.32 2,299.66 23,213.11 523.92 3,365.75 466.85 5,350.68 38,311.48 3,186.07 4,946.92 403.22 4,752.73 76.71 16,738.39 23,155.74 5,054.79 4,463.70 2,482.88 1,559.94 6,215.85 27,540.98 3,411.99 2,904.11 3,193.15 1,828.23 1,094.18 10,918.72 1,840.76 1,790.54 5,034.54 1,273.46 5,922.13 2,719.07 207.19 9,279.37 1,903.25 246.58 2,169.86 11,253.42 1,695.21 2,265.41 1,600.68 4,648.77 4,587.33 1,265.75 5,857.24 9,730.19 616.44 4,877.05 1,333.90 5,063.01 11,762.30 11,987.70 2,476.09 12,015.71 416.10 9,171.23
64.32 0.72 0.31 0.45 0.23 0.13 1.11 0.29 0.49 0.13 0.32 0.17 0.82 0.68 0.17 0.33 0.20 0.17 0.24 0.76 0.60 1.01 0.39 0.17 0.14 0.30 0.62 0.54 0.56 0.68 0.65 0.51 0.32 0.26 0.23 0.33 0.12 0.29 0.39 0.29 0.58 0.45 0.25 0.11 0.33 0.28 0.17 0.38 0.89 0.95 0.86 0.21 0.30 0.34 0.45 0.32 0.38 0.59 0.51 0.29 0.19 0.25 0.60
Cost
Euro
ABBEY NAT TREAS 2.00 14-19 14/01A ABERTIS INFRAESTRUCT. 2.50 14-25 27/02A ABN AMRO EMTN 7.125 12-22 06/07A AIR LIQUIDE FIN 0.75 16-24 13/06A AKZO NOBEL EMTN 2.625 12-22 27/07A ALLIED IRISH REGS 2.875 13-16 28/11A ALSTRIA OFFICE REIT 2.125 16-23 12/04A AMERICA MOVIL SAB 3.00 12-21 12/07A ANHEUSER BUSCH 0.875 16-22 17/03A ANHEUSER BUSH INBEV 2.70 04-26 31/03A ANHEUSER-BU INB REGS 0.80 15-23 20/04A ANHEUSER-BUSCH INB 1.50 16-25 17/03A ASSICURAZ GENERALI 5.125 09-24 16/09A AT T 1.30 15-23 05/09A AT T 3.375 14-34 15/03A AT&T INC 1.45 14-22 01/06A ATT T 3.55 12-32 17/12A AUTOSTRADE 1.75 15-26 26/06A BANK OF AMERICA 1.625 15-22 14/09A BANK OF AMERICA 2.50 13-20 27/07A BANK OF IRELAND 1.25 15-20 09/04A BANQUE FED CRED MU 2.375 16-26 24/03A BAT HOLDINGS BV 3.125 14-29 06/03A BAT INTL FIN 0.875 15-23 13/10A BERTELSMANN 1.75 14-24 14/10A BFCM EMTN 4.00 10-20 22/10A BHARTI AIRTEL 3.375 14-21 20/05A BK IRELAND (GOV&CO) 2.00 14-17 08/05A BK TOKYO-MITSUBISHI 0.875 15-22 11/03A BMW FINANCE REGS 0.75 16-24 15/04A BMW US CAP LLC REGS 0.625 15-22 20/04A BNP PARIBAS 2.875 13-23 26/09A BP CAPITAL MARKETS 1.109 15-23 16/02A BP CAPITAL MARKETS 1.373 16-22 03/03A BP CAPITAL MKTS 2.972 14-26 27/02A BP CAPITAL PLC 1.953 16-25 03/03A BRITISH SKY BROADCAST 1.50 14-21 15/09A CASINO GUICHARD 4.726 11-21 26/05A CHRISTIAN DIOR 1.375 14-19 19/06A CITIGROUP 1.375 14-21 27/10A CITIGROUP EMTN 2.375 14-24 22/05A CITYCON 3.75 13-20 24/06A COMMERZBANK AG 4.00 16-26 23/03A COMMERZBANK AG 7.75 11-21 16/03A COOP RABOBANK 1.25 16-26 23/03A CREDIT AGRICOLE 2.625 15-27 17/03A CREDIT AGRICOLE LDN 2.375 14-24 20/05A CREDIT AGRICOLE SA 3.03 14-24 21/02Q CREDIT AGRICOLE 302 5.875 09-19 11/06A CREDIT SUISSE AG 0.375 16-19 11/04A CRH FINANCE GERMANY 1.75 14-21 16/07A CRH FINLAND SERVICES 2.75 13-20 15/10A DAIMLER 0.75 16-23 11/05A DAIMLER AG 1.40 16-24 12/01A DIAGEO FINANCE PLC 2.375 14-26 20/05A EDF SA 2.75 12-23 10/03A EDP FINANCE EMTN 2.625 14-22 18/01A ELECT.DE FRANCE EMTN 5.625 03-33 21/02A ENAGAS FIN REGS 1.25 15-25 06/02A ENBW INTL FIN. EMTN 6.125 09-39 07/07A ENEL SOCIETA -EMTN- 5.625 07-27 21/06A ENERGA FINANCE AB 3.25 13-20 19/03A
The accompanying notes are an integral part of these financial statements.
Page 15
UBAM - CORPORATE EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
700,000 300,000 500,000 400,000 500,000 250,000 1,100,000 200,000 500,000 800,000 1,550,000 400,000 275,000 500,000 900,000 1,000,000 1,500,000 600,000 400,000 700,000 300,000 200,000 1,500,000 1,000,000 500,000 800,000 900,000 150,000 300,000 850,000 1,000,000 500,000 1,000,000 1,300,000 200,000 700,000 700,000 300,000 650,000 300,000 500,000 1,000,000 300,000 600,000 1,000,000 500,000 900,000 1,400,000 100,000 2,000,000 500,000 500,000 300,000 300,000 200,000 300,000 670,000 1,100,000 300,000 400,000 500,000 900,000 400,000 800,000 350,000 500,000 1,000,000
ENGIE 1.00 15-26 13/03A ENI 1.50 15-26 02/02A ENI 1.75 15-24 18/01A ENI 3.625 14-29 29/01A EUTELSAT 2.625 13-20 13/01A FCE BANK EMTN REGS 1.875 14-21 24/06A FCE BANK PLC 1.66 16-21 11/02A FCE BANK PLC 1.615 16-23 11/05A FEDEX CORP 1.00 16-23 11/01A GAS NATURAL 3.875 13-23 17/01A GENERAL MOTORS 1.875 14-19 15/10A GENERAL MOTORS FIN 1.168 16-20 18/05A GLENCORE FINANCE 1.625 14-22 18/01A GLENCORE FINANCE 5.25 10-17 22/03A GLENCORE FINANCE EURO 1.25 15-21 17/03A GOLDMAN SACHS GR EMTN 3.25 13-23 01/02A GOLDMAN SACHS GROUP 2.625 13-20 19/08A GOLDMAN SACHS REGS 1.375 15-22 26/07A HEINEKEN NV 2.875 12-25 04/08A HJ HEINZ CO 2.00 15-23 30/06A HOLCIM FINANCE 1.375 16-23 26/05A HOLCIM FINANCE REGS 3.00 14-24 22/01A HSBC HOLDINGS SUB 6.00 09-10 10/06A HUTCHISON WHAMPOA 3.625 12-22 06/06A IBERDROLA SA 2.50 14-22 24/10A ILLINOIS TOOL WORKS 1.25 15-23 22/05A IMPERIAL TABACCO 2.25 14-21 26/02A IMPERIAL TABACCO 3.375 14-26 26/02A INTESA SAN PAOLO 1.125 15-22 04/03A INTESA SAN PAOLO 4.00 13-23 30/11A INTESA SAN PAOLO SPA 4.375 12-19 15/10A IPIC GMTN REG 2.375 12-18 30/05A JPMORGAN CHASE 1.375 14-21 16/09A JPMORGAN CHASE 1.50 15-22 26/10A JPMORGAN CHASE & C 1.50 16-26 29/10A KBC GROEP 1.00 16-21 26/04A KERING 0.875 15-22 28/03A KINDER MORGAN INC/DEL 1.50 15-22 16/03M KPN 4.25 12-22 01/03A KPN 5.625 09-24 30/09A KRAFT HEINZ FOODS 1.50 16-24 24/05A MC DONALD S CORP 1.00 16-23 15/11A MC DONALD S REGD 2.375 12-24 27/11A MERCIALYS SA 1.787 14-23 31/03A MET LIFE GLOBAL FDG 2.375 13-23 11/01A MONDELEZ INTL 2.375 13-21 26/01A MORGAN STANLEY 1.75 15-25 30/01A MORGAN STANLEY 2.375 14-21 31/03A MORGAN STANLEY EMTN 5.375 10-20 10/08A NOMURA EUR.FIN.EMTN 1.875 13-18 29/05A NORDEA BANK EMTN 4.00 10-21 29/03A NORDEA BANK EMTN 4.50 10-20 26/03A OMV AG 3.50 12-27 27/09A ORANGE EMTN 8.125 03-33 28/01A PEMEX 3.75 16-19 15/03A PEMEX 5.125 16-23 15/03A PEMEX PROJECT REG S 5.50 05-25 24/02A PERNOD RICARD 1.875 15-23 28/09A PHILIP MORRIS INTL 2.875 12-24 30/05A PHILIP MORRIS INTL 2.875 14-26 03/03A PPG INDUSTRIES INC 0.875 15-22 13/03A PROLOGIS 3.375 14-24 20/02A PUBLICIS GROUP 1.125 14-21 16/12A RCI BANQUE SA 2.875 13-18 22/01A RENAULT SA 3.125 14-21 05/03A REPSOL INTL FINANCE 4.875 12-19 19/02A ROYAL BK OF SCOT SUB 4.35 06-17 23/01A
Cost
Market value
Unaudited accrued Interest
% of total net assets
664,300.00 297,804.00 510,250.00 446,143.67 536,755.00 251,475.00 1,131,119.11 202,672.78 501,105.00 903,761.00 1,590,900.66 404,356.80 275,772.96 532,500.00 829,800.12 1,049,100.00 1,622,110.00 610,962.87 434,372.00 734,741.90 305,895.32 229,812.52 1,797,750.00 1,073,700.00 536,325.00 793,912.00 968,355.00 151,428.00 298,917.00 892,927.32 1,125,916.50 498,943.33 1,004,560.00 1,317,587.38 199,228.79 698,687.00 694,946.00 285,360.62 778,160.08 391,965.84 511,885.93 1,004,830.96 332,388.21 604,655.06 1,113,700.00 529,250.00 912,446.06 1,498,955.36 119,577.00 1,985,290.00 528,000.00 574,400.00 361,032.00 443,700.00 203,740.00 309,750.44 706,850.84 1,153,136.42 347,508.05 395,932.00 500,825.00 984,510.00 405,156.00 826,900.80 391,562.50 548,315.00 1,029,379.25
724,360.00 312,891.00 537,290.00 501,252.00 532,175.00 261,695.00 1,138,060.00 204,600.00 506,710.00 964,072.00 1,612,976.50 406,716.00 250,789.00 516,360.00 833,607.00 1,136,210.00 1,621,740.00 616,032.00 473,312.00 748,132.00 309,693.00 229,272.00 1,712,865.00 1,154,060.00 562,665.00 834,328.00 962,757.00 175,464.00 299,499.00 999,362.00 1,117,680.00 521,070.00 1,045,470.00 1,366,560.00 205,564.00 713,510.00 714,273.00 288,930.00 782,814.50 407,289.00 517,775.00 1,020,830.00 335,013.00 621,306.00 1,096,180.00 540,851.50 922,896.00 1,513,358.00 119,577.00 2,063,700.00 569,065.00 564,535.00 371,844.00 577,029.00 209,214.00 318,741.00 738,239.50 1,194,413.00 346,050.00 465,073.20 512,305.00 1,038,627.00 413,212.00 835,424.00 392,063.00 559,580.00 1,018,490.00
2,090.41 1,831.97 3,920.77 6,061.48 6,060.45 77.05 6,984.70 442.47 1,095.89 13,975.41 20,566.09 550.40 2,002.39 7,191.78 3,267.00 13,319.67 33,995.90 7,663.93 10,400.27 0.00 395.55 2,688.00 4,931.51 2,383.56 8,538.25 1,068.49 6,915.98 1,729.00 1,091.10 22,666.67 30,959.70 10,901.64 10,819.67 13,213.11 509.59 1,246.58 1,577.40 1,306.85 9,157.88 12,633.20 739.73 1,589.04 4,204.92 2,673.16 11,096.31 5,061.48 6,540.98 8,523.62 4,772.88 3,287.67 5,095.89 5,917.81 7,946.72 10,256.15 2,198.63 4,507.19 12,786.75 15,553.28 827.00 3,749.32 1,306.51 10,871.93 2,422.13 10,054.64 3,505.99 8,790.98 18,897.54
0.40 0.17 0.30 0.28 0.30 0.15 0.63 0.11 0.28 0.54 0.90 0.23 0.14 0.29 0.46 0.63 0.90 0.34 0.26 0.42 0.17 0.13 0.94 0.64 0.31 0.46 0.53 0.10 0.17 0.55 0.62 0.29 0.58 0.76 0.11 0.40 0.40 0.16 0.43 0.23 0.29 0.57 0.19 0.35 0.61 0.30 0.51 0.84 0.07 1.14 0.32 0.31 0.21 0.32 0.12 0.18 0.41 0.66 0.19 0.26 0.28 0.58 0.23 0.46 0.22 0.31 0.57
The accompanying notes are an integral part of these financial statements.
Page 16
UBAM - CORPORATE EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
200,000 150,000 1,400,000 800,000 1,100,000 500,000 300,000 500,000 750,000 500,000 750,000 700,000 500,000 1,000,000 700,000 400,000 100,000 300,000 700,000 750,000 1,584,000 300,000 1,000,000 300,000 500,000 1,300,000 1,500,000 450,000 500,000 100,000 100,000 500,000 500,000
RTE EDF TRANSPORT 2.75 14-29 20/06A RWE AG EMTN 5.75 03-33 14/02A SANTANDER CONSUM FIN 0.90 15-20 18/02A SANTANDER CONSUMER 1.10 15-18 29/07A SANTANDER INTL DEB 1.375 15-22 14/12A SES GLOBAL AMERICAS 1.875 13-18 24/10A SNAM REGS 1.375 15-23 19/11A SOLVAY SA 1.625 15-22 02/12A SPAREBANK 1 SR BANK 2.125 14-21 14/04A SPAREBANK 1 SR BK 2.125 13-20 03/02A STANDARD CHARTERED 5.875 07-17 26/09A STATOIL ASA 1.25 15-27 17/02A SUMITOMO MITSUI BK 2.75 13-23 24/07A TELEFONICA EMIS 2.736 13-19 29/05A TELEFONICA EMISIONES 3.987 13-23 23/01A TESCO EMTN 2.125 13-20 12/11A TEVA PHARMA FINANCE 2.875 12-19 15/04A THEVA PHARMAC 1.25 15-23 31/03A TOTAL CAPITAL CANADA 2.125 14-29 18/09A UBS JERSEY BRANCH 2.125 16-24 04/03A UNICREDIT 1.50 14-19 19/06A VEOLIA ENVIRONNEMENT 4.625 12-27 30/03A VERIZON COMM 1.625 14-24 01/03A VERIZON COMMUNICATION 2.375 14-15 17/02A VOLKSWAGEN LEAS REGS 2.625 14-24 15/01A VONOVIA FINANCE BV 2.25 15-23 15/12A VW LEASING GMBH 2.375 12-22 06/09A WALGREENS BOOTS 2.125 14-26 20/11A WHIRLPOOL 0.625 15-20 12/03A WPP FINANCE DEUTSCHLA 1.625 15-30 23/03A WPP FINANCE SA EMTN 2.25 14-26 22/09A XSTRATA FINANCE EMTN 5.25 07-17 13/06A XSTRATA FINANCE REGS 2.375 12-18 19/11A
Floating rate bonds 300,000 350,000 500,000 500,000 750,000 600,000 500,000 500,000 1,300,000 500,000 1,000,000 300,000 750,000 900,000 1,250,000 300,000 1,900,000 1,000,000 1,500,000 500,000 700,000 750,000 1,500,000 2,000,000 750,000 300,000 700,000 800,000 600,000 500,000 300,000
Euro
ACHMEA BV FL.R 15-49 31/12A ALLIANDER SUB FL.R 13-XX 27/11A ALLIANZ FL.R 12-42 17/10A ALLIANZ SE FL.R 13-XX 24/10A AMERICAN INTL GROUP FL.R 07-67 15/03A ASSICURAZ GENERALI FL.R 12-42 12/12A AVIVA PLC FL.R 08-38 22/05A AVIVA SUB FL.R 14-44 03/07A AXA FL.R 10-40 16/04A AXA SA FL.R 14-XX 07/11A BARCLAYS BANK EMTN FL.R 05-XX 15/03A BAYER SUB FL.R 14-74 01/07A BAYER SUB FL.R 14-75 01/07A BBVA FL.R 14-24 11/04A BNP PARIBAS FL.R 14-26 20/03A BPCE FL.R 14-26 08/07A BPCE GP FL.R 07-XX 30/10A CITIGROUP INC EMTN SUB FL.R 07-17 31/05A CITIGROUP INC EMTN VAR FL.R 05-17 30/11Q CLOVERIE PLC SUB FL.R 09-39 24/07A CLOVERIE PLC SWISS RE FL.R 12-42 01/09A CNP ASSURANCES FL.R 10-40 14/09A COMMONW.BK AUSTRALIA FL.R 15-27 22/04A DANSKE BANK SUB FL.R 07-XX 15/05A DONG ENERGY A/S FL.R 13-13 08/07A DONG ENERGY SUB FL.R 15-15 06/11A EDF SA FL.R 14-XX 22/01A ELECT.DE FRANCE FL.R 13-XX 29/01A ELM BV/SWISS LIFE-EMTN-FL.R 07-XX 12/04A ENBW ENERGIE FL.R 14-76 02/04A ENGIE FL.R 13-18 10/07A
Cost
Market value
Unaudited accrued Interest
% of total net assets
197,826.00 207,931.50 1,366,666.00 809,120.00 1,128,776.55 495,860.00 302,721.52 513,965.42 795,825.00 498,380.00 737,400.00 679,399.00 494,780.00 995,625.00 777,280.00 404,380.00 108,588.00 301,791.00 736,687.00 777,383.05 1,630,649.69 359,265.00 998,660.00 321,777.85 532,575.01 1,394,177.83 1,508,400.00 447,766.64 498,910.00 99,749.00 98,575.00 572,275.00 500,961.66
238,346.00 211,417.50 1,401,162.00 812,760.00 1,124,079.00 519,895.00 316,869.00 528,805.00 804,900.00 528,510.00 795,495.00 723,156.00 567,725.00 1,075,230.00 839,328.00 402,460.00 107,055.00 300,285.00 810,278.00 789,060.00 1,623,409.92 410,901.00 1,058,120.00 331,878.00 552,015.00 1,438,268.00 1,629,930.00 458,604.00 503,360.00 100,293.00 109,337.00 519,885.00 510,710.00
150.68 3,228.48 4,578.69 8,102.73 8,223.70 6,403.69 2,524.59 4,684.08 3,362.16 4,296.45 33,468.24 3,203.55 12,848.36 2,398.68 12,157.62 5,364.75 598.63 934.93 11,623.63 5,152.40 716.05 3,497.26 5,386.99 2,608.61 5,988.73 15,823.77 29,006.15 5,826.33 941.78 440.75 1,733.61 1,222.60 8,032.79
0.13 0.12 0.78 0.45 0.62 0.29 0.18 0.29 0.45 0.29 0.44 0.40 0.32 0.60 0.47 0.22 0.06 0.17 0.45 0.44 0.90 0.23 0.59 0.18 0.31 0.80 0.91 0.25 0.28 0.06 0.06 0.29 0.28
43,596,053.80
43,643,275.25
688,698.66
24.24
43,596,053.80 324,750.00 361,375.00 584,684.00 548,250.30 788,437.50 776,423.07 511,000.00 503,125.00 1,388,205.12 506,100.83 1,027,500.00 330,375.00 769,675.00 930,304.31 1,274,930.93 301,932.00 2,037,110.50 855,000.00 1,498,500.00 536,430.00 806,067.00 795,000.00 1,423,022.73 2,091,280.00 805,312.50 296,940.74 675,875.88 823,625.00 629,480.00 477,000.00 314,100.00
43,643,275.25 263,583.00 367,496.50 580,995.00 535,605.00 751,076.25 697,902.00 539,035.00 482,100.00 1,438,151.00 495,240.00 946,650.00 305,640.00 756,412.50 918,324.00 1,282,437.50 305,268.00 2,006,856.00 999,440.00 1,500,360.00 581,330.00 875,882.00 815,010.00 1,443,435.00 2,046,640.00 790,065.00 295,041.00 663,341.00 792,096.00 618,180.00 483,800.00 313,956.00
688,698.66 5,120.90 6,713.11 19,748.98 16,222.68 10,718.32 25,536.89 3,672.95 19,216.19 14,023.97 12,705.96 13,924.66 11,219.26 22,438.52 6,904.11 10,042.81 8,069.67 77,482.00 0.00 1,262.50 35,040.98 38,392.42 35,655.74 5,671.23 12,295.23 35,763.32 5,827.87 12,622.95 14,213.11 7,595.69 4,419.52 11,307.38
24.24 0.15 0.20 0.32 0.30 0.42 0.39 0.30 0.27 0.80 0.28 0.53 0.17 0.42 0.51 0.71 0.17 1.11 0.55 0.83 0.32 0.49 0.45 0.80 1.15 0.44 0.16 0.37 0.44 0.34 0.27 0.17
The accompanying notes are an integral part of these financial statements.
Page 17
UBAM - CORPORATE EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Cost
Market value
Unaudited accrued Interest
% of total net assets
518,500.77 690,375.38 808,080.00 1,376,375.14 498,175.00 791,677.15 553,250.00 597,102.00 321,450.00 300,750.93 993,800.00 483,961.76 402,500.00 318,000.00 795,840.00 1,372,500.00 888,008.81 500,000.00 301,650.00 1,296,884.67 247,812.55 731,400.00 103,150.25 1,685,625.00 150,825.00 1,628,921.98 247,625.00
528,810.00 720,377.00 803,250.00 1,390,311.00 545,640.00 801,832.50 520,890.00 584,304.00 307,950.00 305,571.00 1,207,160.00 479,002.50 417,188.00 314,748.00 820,024.00 1,294,200.00 902,853.00 508,915.00 302,805.00 1,296,225.00 239,977.50 726,427.50 103,942.00 1,624,200.00 123,340.50 1,630,944.00 251,040.00
1,486.30 1,610.96 31,892.08 25,325.14 2,684.93 9,359.63 4,715.75 3,421.23 5,560.45 388.36 5,993.15 628.77 14,918.03 5,016.39 1,808.22 2,098.51 17,750.00 2,818.51 1,890.41 15,148.63 419.52 5,763.32 452.08 5,290.52 1,269.86 16,272.00 886.99
0.29 0.40 0.45 0.77 0.30 0.45 0.29 0.32 0.17 0.17 0.67 0.27 0.23 0.17 0.46 0.72 0.50 0.28 0.17 0.72 0.13 0.40 0.06 0.90 0.07 0.91 0.14
2,488,900.50
2,541,443.00
2,113.71
1.41
2,488,900.50
2,541,443.00
2,113.71
1.41
2,488,900.50 298,867.50 1,488,345.00 199,638.00 502,050.00
2,541,443.00 333,519.00 1,504,185.00 201,564.00 502,175.00
2,113.71 949.32 945.21 219.18 0.00
1.41 0.19 0.83 0.11 0.28
158,134,851.85
162,029,054.17
89.97
Cash at banks/(bank liabilities)
19,753,418.54
10.97
Other net assets/(liabilities)
-1,699,794.16
-0.94
180,082,678.55
100.00
Description
500,000 700,000 700,000 1,300,000 500,000 750,000 500,000 600,000 300,000 300,000 1,000,000 450,000 400,000 300,000 800,000 1,200,000 900,000 500,000 300,000 1,250,000 250,000 750,000 100,000 1,500,000 150,000 1,600,000 250,000
ENGIE FL.R 14-XX 02/06A ENGIE SUB FL.R 14-XX 02/06A HANNOVER FINANCE FL.R 10-40 14/09A IBERDROLA INTL FL.R 13-XX 27/02A ING BANK EMTN FL.R 08-23 29/05A ING BANK NV FL.R 14-26 25/02A ING VERZEKERINGEN FL.R 02-27 07/05A KBC GROEP EMTN FL.R 15-27 11/03A MERCK KGAA FL.R 14-74 12/12A MERCK KGAA SUB FL.R 14-74 12/12A MUNICH RE FL.R 12-42 26/05A NGG FINANCE PLC FL.R 13-76 18/06A ORANGE EMTN SUB REGS FL.R 14-XX 01/10A ORANGE SA SUB FL.R 14-XX 07/02A SEB FL.R 14-26 28/05A SEB REGS FL.R 07-XX 21/12A SOCIETE GEN SUB FL.R 14-26 16/09A SOLVAY FIN SUB FL.R 13-XX 12/05A SUEZ FL.R 15-XX 30/03A SVENSKA HANDELSB SUB FL.R 14-24 15/01A SWISS LIFE AG FL.R 15-XX 16/06A TOTAL SA FL.R 15-XX 26/02A TOTAL SA FL.R 16-49 18/05A UBS CAPITAL FL.R 07-XX 29/12A VATTENFALL AB FL.R 15-77 19/03A VW INTL FIN SUB FL.R 14-XX 24/03A ZURICH INSURANCE CO FL.R 16-46 01/10A
Other transferable securities Bonds 300,000 1,500,000 200,000 500,000
Euro
AT T 2.75 15-23 19/05A CREDIT SUISSE LONDON 1.00 16-23 07/06A FEDEX CORP 0.50 16-20 09/04A MOLSON COORS 1.25 16-24 15/07A
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 18
UBAM - CORPORATE EURO BOND
Geographical classification of investments (by domicile of the issuer) United States of America France The Netherlands United Kingdom Germany Italy Spain Ireland Sweden Belgium Denmark Luxembourg Jersey Island Mexico Norway Canada Japan Cayman Islands Australia Finland United Arab Emirates The Netherlands Antilles Austria
% of net assets 16.78 15.90 11.65 9.71 5.74 4.73 4.03 3.49 3.33 2.45 1.75 1.64 1.40 1.20 1.14 1.03 1.00 0.93 0.80 0.55 0.28 0.23 0.21 89.97
Page 19
UBAM - CORPORATE EURO BOND
Industrial classification of investments % of net assets 36.07 20.96 5.36 5.17 4.58 3.29 3.09 2.27 1.16 1.08 1.01 1.01 0.94 0.79 0.76 0.53 0.46 0.40 0.30 0.29 0.28 0.17
Banks and credit institutions Holding and finance companies Communications Insurance Utilities Petroleum Tobacco and alcoholic drinks Real estate companies Chemicals Electrical engineering and electronics Road vehicles Foods and non alcoholic drinks Transportation Retail trade, department stores Hotels and restaurants Graphic art and publishing Machine and apparatus construction Pharmaceuticals and cosmetics Building materials and trade Textiles and garments Miscellaneous consumer goods Miscellaneous services
89.97
Page 20
UBAM - CORPORATE EURO BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
2,553,863.77
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
2,406,082.52 396.30 146,928.31 456.64 805,055.97
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
418,952.16 93,175.58 35,871.75 93,047.52 1,850.05 4,664.67 3,538.11 5,493.27 103,609.93 570.00 38,436.31 5,846.62 1,748,807.80
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
1,962,127.12 25,976.05 -1,278,017.44 706,377.40 259,095.06 -24,937.14 3,399,428.85
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
1,681,866.50 107,969.07 404,283.72 -347,191.89 5,246,356.25
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-168,657.31 39,538,938.77 5,281,892.11 -60,832,227.78 -2,304,958.02
Total changes in net assets
-13,238,655.98
Total net assets at the beginning of the period
193,321,334.53
Total net assets at the end of the period
180,082,678.55
The accompanying notes are an integral part of these financial statements.
Page 21
UBAM - CORPORATE US DOLLAR BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
1,271,391,802.50
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Unrealised gain on futures contracts Other receivables
Note 2
1,163,825,384.70 3,380,461.04 91,427,096.07 664,706.45 22,389.19 11,102,289.69 512,900.36 378,073.33 78,501.67
Note 2
Note 2, 9
Liabilities
42,603,713.50
Bank liabilities Other liquid liabilities Payable on purchases of securities Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Unrealised loss on swap contracts Payable on swap contracts Interest payable on bank liabilities and expenses payable
57,382.40 136,912.72 36,919,585.74 32,635.23 3,089,214.62 523,562.63 186,114.30 1,658,305.86
Note 2, 8 Note 2, 10
Net assets at the end of the period
1,228,788,089.00
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
1,847,790.526
787,603.728
191,808.090
2,443,586.164
306,663.300
207,140.441
77,711.356
436,092.385
270,712.904
277,941.152
73,758.734
474,895.322
0.000
22,048.783
0.000
22,048.783
20,082.802
21,381.000
6,268.000
35,195.802
4,447.000
4,509.129
437.000
8,519.129
77,796.000
7,224.000
12,415.000
72,605.000
Capitalisation shares
834,567.023
1,305,922.522
187,868.506
1,952,621.039
Distribution shares
263,823.630
44,366.000
15,320.000
292,869.630
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares
AH GBP shares
Capitalisation shares
AS shares
Capitalisation shares
I shares
The accompanying notes are an integral part of these financial statements.
Page 22
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - CORPORATE US DOLLAR BOND Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
IH EUR shares
Capitalisation shares Distribution shares
IH CHF shares
Capitalisation shares
IH ILS shares
Capitalisation shares
IS shares
Capitalisation shares
U shares
Distribution shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
220,268.365
795,391.231
186,812.580
828,847.016
0.000
158,165.000
45.000
158,120.000
307,697.000
92,547.000
7,503.000
392,741.000
309,871.000
22,593.603
40,164.000
292,300.603
12,675.000
0.000
0.000
12,675.000
5,630.000
3,054.000
0.000
8,684.000
8,862.786
109.933
556.989
8,415.730
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
1,228,788,089.00
679,362,509.21
451,688,389.05
USD
USD
USD
2,443,586.164 188.37
1,847,790.526 179.75
1,418,677.904 179.14
436,092.385 117.64 3.83
306,663.300 115.98 4.51
93,810.311 120.01 4.66
EUR
EUR
EUR
474,895.322 137.43
270,712.904 131.92
12,955.206 131.97
22,048.783 102.49
-
-
CHF
CHF
CHF
35,195.802 175.78
20,082.802 169.13
1,290.000 171.71
The accompanying notes are an integral part of these financial statements.
Page 23
UBAM - CORPORATE US DOLLAR BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
AS shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH ILS shares Capitalisation shares Number of shares outstanding Net asset value per share
IS shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
1,228,788,089.00
679,362,509.21
451,688,389.05
GBP
GBP
GBP
8,519.129 103.84
4,447.000 99.09
-
USD
USD
USD
72,605.000 102.52
77,796.000 101.39
89,655.000 101.84
USD
USD
USD
1,952,621.039 200.85
834,567.023 191.34
651,952.645 190.03
292,869.630 99.13 3.37
263,823.630 97.70 3.79
417,873.091 100.74 3.90
EUR
EUR
EUR
828,847.016 146.49
220,268.365 140.38
5,173.192 139.94
158,120.000 101.12
-
-
CHF
CHF
CHF
392,741.000 103.41
307,697.000 99.32
2,325.000 100.49
ILS
ILS
ILS
292,300.603 104.27
309,871.000 99.89
-
USD
USD
USD
12,675.000 103.30
12,675.000 102.21
60,019.044 102.25
USD
USD
USD
8,684.000 101.25 3.45
5,630.000 99.91 -
-
The accompanying notes are an integral part of these financial statements.
Page 24
UBAM - CORPORATE US DOLLAR BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
1,228,788,089.00
679,362,509.21
451,688,389.05
USD
USD
USD
8,415.730 180.10
8,862.786 172.46
9,427.889 173.07
The accompanying notes are an integral part of these financial statements.
Page 25
UBAM - CORPORATE US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
6,000,000 3,100,000 1,100,000 2,525,000 2,800,000 3,000,000 5,000,000 4,000,000 5,000,000 5,300,000 3,000,000 2,500,000 2,000,000 1,000,000 3,000,000 2,500,000 1,500,000 8,650,000 1,100,000 2,000,000 2,000,000 4,550,000 2,100,000 7,900,000 5,000,000 5,000,000 4,570,000 500,000 3,300,000 5,000,000 5,200,000 1,500,000 6,400,000 5,900,000 3,200,000 1,200,000 857,000 300,000 500,000 2,700,000 1,750,000 2,000,000 3,000,000 2,750,000 4,945,000 5,200,000 2,600,000 1,750,000 1,150,000 1,500,000 1,750,000 2,300,000 5,000,000 2,000,000 2,200,000 628,000 700,000 2,000,000 2,000,000 1,500,000 2,000,000 1,000,000
Market value
Unaudited accrued Interest
% of total net assets
1,122,146,038.92
1,144,114,922.25
10,812,870.66
93.11
1,061,538,327.49
1,084,237,625.60
10,200,302.24
88.24
1,061,538,327.49 5,998,020.00 3,052,375.01 1,102,090.00 2,523,459.75 2,868,830.00 2,995,230.00 5,054,700.28 4,018,164.00 5,213,680.56 5,848,952.02 3,677,487.68 2,844,750.00 2,412,205.00 1,019,380.50 2,999,250.00 2,707,372.00 1,478,080.00 9,608,644.58 1,107,579.65 2,269,000.00 1,998,240.00 4,644,643.88 2,097,756.50 8,031,617.34 5,038,800.44 4,987,400.00 5,747,963.64 481,050.00 3,098,820.53 5,116,300.35 5,295,701.00 1,531,490.00 6,341,160.71 5,895,179.00 3,193,501.11 1,247,251.09 867,969.60 281,250.00 538,212.50 2,657,610.00 1,780,058.00 2,022,840.67 3,420,342.00 2,923,452.50 5,018,928.20 5,278,416.00 2,668,142.13 1,769,852.50 1,108,475.00 1,916,100.00 1,711,932.00 2,403,888.20 5,104,950.65 2,240,000.00 2,187,988.42 614,246.80 676,648.11 2,594,000.00 1,991,160.00 1,582,500.00 2,090,876.92 1,026,470.00
1,084,237,625.60 6,147,900.00 3,167,270.00 1,157,288.00 2,543,281.00 2,934,764.00 3,072,180.00 5,068,300.00 4,037,880.00 5,201,050.00 6,054,243.00 3,699,960.00 2,770,350.00 2,350,880.00 1,022,030.00 3,151,140.00 2,785,050.00 1,514,115.00 9,618,194.50 1,184,414.00 2,218,200.00 2,067,420.00 4,835,467.00 2,097,123.00 8,324,151.00 5,084,900.00 5,185,050.00 5,287,033.00 495,260.00 3,401,211.00 5,145,550.00 5,447,052.00 1,600,860.00 6,534,080.00 6,045,494.00 3,277,280.00 1,272,552.00 903,919.89 274,515.00 529,460.00 2,720,466.00 1,812,195.00 2,073,800.00 3,475,470.00 3,166,845.00 5,062,048.15 5,286,008.00 2,781,246.00 1,815,345.00 1,232,386.00 1,736,385.00 1,785,997.50 2,428,708.00 5,138,850.00 2,100,420.00 2,173,512.00 663,419.20 756,000.00 2,368,320.00 2,044,200.00 1,515,210.00 2,165,100.00 1,068,360.00
10,200,302.24 19,166.67 13,485.00 5,060.00 3,282.50 26,880.00 12,500.00 35,250.00 51,250.00 71,805.56 38,461.81 111,000.00 31,250.00 18,055.56 8,437.50 37,968.75 9,817.71 6,609.38 150,201.85 4,209.03 47,183.33 18,229.17 63,137.57 13,321.88 112,245.83 40,902.78 57,048.61 162,330.21 6,015.63 22,343.75 15,750.00 73,320.00 16,625.00 0.00 1,100.00 13,600.00 10,513.33 10,284.00 2,583.33 13,166.67 11,643.75 27,110.42 13,805.56 74,100.00 78,537.33 58,927.92 27,300.00 25,711.11 25,316.67 10,648.68 9,213.54 13,248.96 33,460.75 34,819.44 8,738.89 3,865.28 4,219.81 2,566.67 23,750.00 11,666.67 25,348.96 3,111.67 3,750.00
88.24 0.50 0.26 0.09 0.21 0.24 0.25 0.41 0.33 0.42 0.49 0.30 0.23 0.19 0.08 0.26 0.23 0.12 0.78 0.10 0.18 0.17 0.39 0.17 0.68 0.41 0.42 0.43 0.04 0.28 0.42 0.44 0.13 0.53 0.49 0.27 0.10 0.07 0.02 0.04 0.22 0.15 0.17 0.28 0.26 0.41 0.43 0.23 0.15 0.10 0.14 0.15 0.20 0.42 0.17 0.18 0.05 0.06 0.19 0.17 0.12 0.18 0.09
Cost
US Dollar
ABBVIE 2.50 15-20 14/05S ABBVIE 2.90 13-22 06/11S ABBVIE 3.60 15-25 14/05S ABN AMRO BANK 1.80 15-18 04/06S ABN AMRO BANK 4.80 16-26 18/04S ABN AMRO BANK REGS 2.50 13-18 30/10S ACTAVIS FUNDING 2.35 15-18 12/03S AKBANK REGS 5.125 15-25 31/03S ALLIANZ SE 5.50 12-XX 26/09S ALTRIA GROUP INC 4.75 11-21 05/05S ALTRIA GROUP INC 9.25 09-19 06/08S AMERICA MOVIL 5.00 10-20 30/03S AMERICAN EXPRESS CO 8.125 09-19 20/05S AMERICAN EXPRESS CRED 2.25 14-19 15/08S AMERICAN INTL GROUP 3.375 13-20 15/08S AMERICAN INTL GROUP 4.875 12-22 01/06S AMERICAN TOWER 3.375 16-26 15/10S AMERICAN TOWER 5.05 10-20 01/09S AMGEN 3.625 14-24 22/05S AMGEN 5.70 09-19 01/02S AMPHENOL 3.125 14-21 15/09S ANADARKO PETROLEUM 4.85 16-21 15/03S ANGLO AMER CAPITAL 2.625 12-17 03/04S ANHEUSER BUSCH 3.30 16-23 01/02S ANHEUSER BUSCH COS 1.90 16-19 01/02S ANHEUSER BUSCH COS 2.65 16-21 01/02S ANHEUSER BUSCH INBEV 7.75 11-19 15/01S APACHE CORP 2.625 12-23 15/01S APACHE CORP 3.25 12-22 15/04S APPLE 2.10 14-19 06/05S AT T 3.60 16-23 17/02S AT T 3.80 16-22 15/03S AT T INC 2.45 15-20 30/06S AT T INC 3.00 15-22 30/06S AT T INC 3.40 15-25 15/05S BAE SYSTEMS 144A 3.80 14-24 07/10S BAKER HUGHES INC 3.20 11-21 15/08S BANCO BRASIL CAYMAN 3.875 12-22 10/10S BANCO DO BRAZIL 6.00 10-20 22/01S BANK OF AMERICA 2.25 15-20 21/04S BANK OF AMERICA 3.30 13-23 11/01S BANK OF AMERICA 3.50 16-26 19/04S BANK OF AMERICA 5.70 12-22 24/01S BANK OF AMERICA 5.875 10-21 05/01S BANK OF AMERICA CORP 2.60 13-19 15/01S BANK OF AMERICA CORP 2.625 16-21 19/04S BANK OF AMERICA CORP 4.00 14-24 01/04S BANK OF AMERICA CORP 4.20 14-24 26/08S BANK OF AMERICA CORP 5.65 08-18 01/05S BANK OF AMERICA CORP 7.625 09-19 01/06S BANK OF AMERICA SUB 3.95 15-25 21/04S BANK OF AMERICA SUB 4.45 16-26 03/03S BANK OF NEW YORK M 2.30 14-19 11/09S BARCLAYS BANK 6.05 07-17 04/12S BARCLAYS PLC 2.875 15-20 08/06S BARRICK GOLD CORP 4.10 13-23 01/05S BARRICK NA FINANCE 4.40 11-21 30/05S BAT INTERNATIONAL FINANCE PLC REG S 9.50 08-18 15/11S BBVA 3.00 15-20 20/10S BCO DO BRASIL CAYMAN 3.875 11-17 23/01S BECTION DICKINSON 3.734 14-24 15/12S BERKSHIRE HATHAWAY 3.00 12-22 15/05S
The accompanying notes are an integral part of these financial statements.
Page 26
UBAM - CORPORATE US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
1,500,000 4,500,000 5,000,000 2,600,000 2,000,000 6,000,000 2,600,000 2,900,000 5,000,000 2,000,000 12,000,000 1,400,000 750,000 5,000,000 2,500,000 1,400,000 2,300,000 1,270,000 1,700,000 1,000,000 1,500,000 1,500,000 2,400,000 500,000 760,000 2,000,000 5,200,000 4,600,000 3,600,000 4,000,000 1,000,000 4,730,000 2,638,000 3,200,000 1,400,000 2,800,000 600,000 2,200,000 2,150,000 650,000 1,400,000 2,500,000 3,000,000 800,000 2,000,000 5,600,000 2,000,000 1,000,000 1,000,000 3,600,000 3,400,000 1,150,000 2,000,000 7,200,000 1,800,000 1,600,000 2,000,000 6,700,000 5,000,000 1,600,000 2,000,000 4,500,000 5,000,000 1,000,000 500,000 4,000,000 1,300,000
Cost
BERKSHIRE HATHAWAY 3.75 13-23 15/11S BFCM 2.50 16-21 13/04S BFCM REGS 2.50 13-18 29/10S BFCM TR7 REGS 2.00 16-19 12/04S BG ENERGY CAPITAL 4.00 11-21 15/10S BHARTI AIRTEL REGS 5.125 13-23 11/03S BHP BILLITON 3.25 11-21 21/11S BHP BILLITON 3.85 13-23 30/09S BK TOKYO-MITSUBISH 2.35 14-19 08/09S BK TOKYO-MITSUBISHI 2.30 14-19 10/03S BNP PARIBAS EMTN 512 2.45 14-19 17/03S BNP PARIBAS 144A SUB 4.375 15-25 28/09S BNP PARIBAS 714 5.00 11-21 15/01S BNY MELLON 2.60 15-20 17/08S BNY MELLON 3.55 11-21 23/09S BPCE 4.00 14-24 15/04S BPCE SUB REGS 5.70 13-23 22/10S BRASKEM SA REG-S 7.25 08-18 05/06S BRITISH SKY BROADCAST 3.75 14-24 16/09S BRITISH TELECOM 2.35 14-19 14/02S BURLINGTON NORTHERN 3.75 14-24 01/04S CA LONDON 3.875 14-24 15/04S CANADIAN NATURAL RES. 3.45 11-21 15/11S CAPITAL ONE FINANCIAL 4.20 15-25 29/10S CAPITAL ONE FINL 3.20 15-25 05/02S CATERPILLAR 3.90 11-21 27/05S CELGENE 3.55 15-22 15/08S CELGENE CORP 3.625 14-24 15/05S CIMAREX ENERGY CO 4.375 14-24 01/06S CITIGROUP 2.15 15-18 30/07S CITIGROUP 2.40 15-20 18/02S CITIGROUP 2.50 14-19 29/07S CITIGROUP 2.55 14-19 08/04S CITIGROUP 3.75 14-24 16/06S CITIGROUP 4.05 13-22 30/07S CITIGROUP 4.50 11-22 14/01S CITIGROUP INC 4.60 16-26 09/03S CITIGROUP INC 3.40 16-26 01/05S CITIGROUP SUB 5.50 13-25 13/09S CITIZENS FIN GRP INC 4.30 15-25 03/12S COMMERZBANK AG 8.125 13-23 19/09S COMMONW BK AUSTRALIA 4.50 15-25 09/12S COMMONWEALTH BANK OF AUSTRALIA REG S 5.00 09-19 15/10S CONOCOPHILIPS 4.95 16-26 15/03S CONOCOPHILLIPS 3.35 14-24 15/11S CONOCOPHILLIPS 4.20 16-21 15/03S CREDIT AGRICOLE LDN 2.50 14-19 15/04S CREDIT AGRICOLE LDN 2.75 15-20 10/06S CREDIT AGRICOLE REGS 2.375 16-21 01/07S CREDIT SUISSE LONDON 3.625 14-24 09/09S CRH AMERICA INC RE 3.875 15-25 18/05 CS GR FUNDING 2.75 15-20 26/03S CS GR FUNDING 3.45 16-21 16/04S CS NY MTN SUB TR.6 4.375 10-20 05/08S CSX 3.40 14-24 01/08S CVS CAREMARK 4.00 13-23 05/12S CVS HEALTH CORP 3.50 15-22 20/07S DAIMLER FINANCE 2.125 16-20 06/04S DAIMLER FINANCE 2.25 12-19 31/07S DAIMLER FINANCE 2.45 15-20 18/05S DAIMLER FINANCE REGS 1.875 13-18 11/01S DANSKE BANK REGS 2.80 16-21 10/03S DEUTSCHE BANK AG 1.875 15-18 13/02S DEUTSCHE TELEKOM INTERNATIONAL FINANCE BV 6.75 08-18 20/08S DIAGEO CAPITAL 2.875 12-22 11/05S DISCOVER BANK 3.10 15-20 04/06S DOMINION GAS HLDGS 2.80 15-20 15/11S
1,555,350.00 4,508,190.00 4,981,350.00 2,597,218.00 2,096,800.00 6,478,107.18 2,516,800.39 3,000,888.48 5,077,500.33 1,996,800.00 12,222,449.14 1,391,194.36 849,672.95 4,997,650.00 2,485,265.00 1,461,334.56 2,438,659.00 1,421,130.00 1,705,794.00 999,020.00 1,570,200.00 1,607,910.71 2,304,975.08 499,960.00 734,281.82 2,091,700.00 5,383,016.56 4,669,355.16 3,658,372.59 4,008,970.78 990,430.00 4,778,617.70 2,676,936.91 3,280,084.00 1,434,258.50 3,023,344.00 615,864.00 2,255,022.89 2,349,835.94 657,111.72 1,591,268.56 2,466,950.50 3,111,560.44 878,408.00 1,795,460.56 5,828,219.00 2,041,360.56 1,020,330.00 998,690.94 3,740,508.00 3,425,970.31 1,147,297.14 2,002,100.68 7,894,784.10 1,859,832.00 1,716,656.78 2,044,120.00 6,782,276.26 5,096,000.50 1,605,808.00 2,005,800.00 4,560,300.00 4,994,050.00 995,000.00 498,190.00 4,051,360.12 1,295,619.00
The accompanying notes are an integral part of these financial statements.
Page 27
Market value
Unaudited accrued Interest
% of total net assets
1,641,463.50 4,595,580.00 5,109,500.00 2,624,830.00 2,171,650.00 6,520,620.00 2,755,558.00 3,155,664.00 5,083,350.00 2,030,900.00 12,258,480.00 1,427,258.00 843,112.50 5,190,000.00 2,714,850.00 1,533,700.00 2,479,331.00 1,355,013.80 1,772,462.50 1,022,240.00 1,668,345.00 1,630,635.00 2,429,232.00 515,460.00 769,325.20 2,211,480.00 5,476,536.00 4,829,632.00 3,783,560.40 4,048,720.00 1,012,460.00 4,828,998.90 2,699,702.82 3,387,936.00 1,487,122.00 3,098,900.00 637,002.00 2,262,920.00 2,419,352.00 686,504.00 1,633,058.00 2,615,200.00 3,317,100.00 910,760.00 2,067,240.00 6,064,856.00 2,048,260.00 1,034,660.00 1,011,120.00 3,724,416.00 3,616,410.00 1,140,190.50 2,024,280.00 7,801,056.00 1,938,870.00 1,775,232.00 2,155,900.00 6,794,202.00 5,126,700.00 1,642,768.00 2,019,720.00 4,677,345.00 4,978,850.00 1,116,020.00 525,995.00 4,098,600.00 1,346,800.00
7,031.25 24,062.50 21,180.56 11,122.22 16,666.67 93,402.71 9,154.17 27,912.50 36,555.56 14,055.56 84,116.67 15,652.78 17,187.50 48,027.78 23,913.19 11,666.67 24,763.33 6,394.10 18,416.67 8,877.78 13,906.25 12,109.38 10,350.00 3,558.33 9,795.56 7,150.00 71,058.25 20,843.75 12,808.19 35,833.33 8,800.00 49,599.31 15,322.38 4,666.67 23,625.00 58,100.00 8,510.00 12,258.00 35,146.53 2,096.25 31,913.19 6,562.50 31,250.00 12,320.00 8,375.00 73,173.33 10,416.67 1,527.78 4,156.25 40,237.50 15,370.83 8,257.64 13,800.00 126,875.00 25,330.00 4,444.44 31,111.11 35,198.00 46,875.00 4,573.33 17,604.17 38,500.00 35,677.08 24,375.00 1,956.60 8,955.56 4,550.00
0.13 0.37 0.42 0.21 0.18 0.53 0.22 0.26 0.41 0.17 1.00 0.12 0.07 0.42 0.22 0.12 0.20 0.11 0.14 0.08 0.14 0.13 0.20 0.04 0.06 0.18 0.45 0.39 0.31 0.33 0.08 0.39 0.22 0.28 0.12 0.25 0.05 0.18 0.20 0.06 0.13 0.21 0.27 0.07 0.17 0.49 0.17 0.08 0.08 0.30 0.29 0.09 0.16 0.63 0.16 0.14 0.18 0.55 0.42 0.13 0.16 0.38 0.41 0.09 0.04 0.33 0.11
UBAM - CORPORATE US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
1,000,000 1,000,000 5,700,000 1,000,000 7,300,000 3,500,000 1,400,000 500,000 10,000,000 400,000 1,500,000 4,300,000 250,000 3,700,000 2,700,000 1,600,000 808,000 1,000,000 6,100,000 1,300,000 1,000,000 1,900,000 3,000,000 3,800,000 1,000,000 2,200,000 2,550,000 1,500,000 2,200,000 1,900,000 5,000,000 2,000,000 2,236,000 1,622,000 573,000 859,000 3,700,000 2,000,000 1,400,000 2,550,000 1,000,000 800,000 3,250,000 2,500,000 3,500,000 1,500,000 500,000 4,000,000 5,900,000 1,400,000 4,450,000 1,200,000 4,400,000 3,700,000 4,000,000 4,000,000 2,900,000 5,000,000 3,600,000 3,400,000 2,640,000 1,200,000 4,100,000 800,000 5,350,000 4,800,000 3,000,000
Cost
DOW CHEMICAL 3.00 12-22 15/11S DR PEPPER SNAPPLE 3.40 15-25 15/11S DUKE ENERGY 3.05 12-22 15/08S EASTMAN CHEMICAL 3.60 12-22 15/08S EBAY 3.80 16-22 09/03S ECOPETROL SA 5.375 15-26 26/06S EDF REGS 3.625 15-25 13/10S EI DU PONT DE NEMOURS 2.80 13-23 15/02S EKSPORTFINANS 5.50 07-17 26/06S ELETROBRAS 5.75 11-21 27/10S ENERGY TRANSFER 4.65 11-21 01/06S ENERGY TRANSFER PART 4.15 13-20 01/10S ENLINK MIDSTREAM PART 4.40 14-24 01/04S ENTERPRISE PRODUCTS 2.55 14-19 15/10S ENTERPRISE PRODUCTS 3.35 13-23 15/03S ENTERPRISE PRODUCTS 3.75 14-25 15/02S EQT CORP 6.50 08-18 01/04S EQT CORP 8.125 09-19 01/06S EXELON CORP 3.40 16-26 15/04S EXPORT IMP BK KOREA 1.75 16-19 26/05S FEDEX 2.625 12-22 01/08S FLOWSERVE 3.50 12-22 15/09S FORD MOTOR CREDIT 2.375 13-18 16/01S FORD MOTOR CREDIT 2.551 15-18 05/10S FORD MOTOR CREDIT 2.875 13-18 01/10S FORD MOTOR CREDIT 3.336 16-21 18/03S FORD MOTOR CREDIT 4.375 13-23 06/08S FORD MOTOR CREDIT 4.389 16-26 08/01S FORD MOTOR CREDIT 5.75 11-21 01/02S FORD MOTOR CREDIT 3.664 14-24 08/09S FOREST LABORATO 144A 5.00 13-21 15/12S GAZ CAPITAL REGS 6.212 06-16 22/11S GE CAP INTL REGS 3.373 15-25 15/11S GE CAPITAL INT REGS 2.342 15-20 15/11S GECC 839 4.625 11-21 07/01S GENERAL ELECTRIC CAP 3.10 13-23 09/01S GENERAL MOTORS 3.15 15-20 15/01S GENERAL MOTORS 4.20 16-21 01/03S GENERAL MOTORS 4.375 14-21 25/09S GENERAL MOTORS FIN 3.20 15-20 13/07S GENERAL MOTORS FIN 3.70 16-23 09/05S GENERAL MOTORS FIN 5.25 16-26 01/03S GFB REGS 4.375 14-24 10/04S GILEAD SCIENCES 3.25 15-22 01/09S GLENCORE FUNDING LLC 3.125 14-19 29/04S GLENCORE FUNDING REGS 2.50 13-19 15/01S GLENCORE FUNDING REGS 4.625 14-24 29/04S GOLDMAN SACHS 2.55 14-19 23/10S GOLDMAN SACHS 5.25 11-21 27/07S GOLDMAN SACHS GROUP 2.60 15-20 23/04S GOLDMAN SACHS GROUP 3.625 13-23 22/01S GOLDMAN SACHS GROUP 4.00 14-24 03/03S GOLDMAN SACHS GROUP 5.75 12-22 24/01S GOLDMAN SACHS GROUP INC 6.15 08-18 01/04S GOLDMAN SACHS GROUP INC 7.50 09-19 15/02S HARVEST OPERAT REGS 2.125 13-18 14/05S HEWLETT PACKARD REGS 3.60 15-20 15/10S HEWLETT PACKARD 144A 2.85 15-18 05/10S HEWLETT PACKARD 144A 3.60 15-20 15/10S HEWLETT PACKARD 144A 4.40 15-22 15/10S HJ HEINZ CO 2.80 15-20 02/07S HJ HEINZ CO FL.R 15-25 15/07S HJ HEINZ 144A 3.50 15-22 15/07S HOME DEPOT INC 3.75 13-24 15/02S HSBC HOLDINGS PLC 5.10 11-21 05/04S HUSKY ENERGY 3.95 12-22 15/04S HUTCH WHAMPOA REGS 3.25 12-22 08/11S
982,660.00 994,030.00 5,749,869.98 1,034,060.00 7,562,611.31 3,244,318.86 1,378,608.90 493,730.00 10,437,500.77 446,800.00 1,553,415.33 4,218,390.09 238,437.50 3,588,688.09 2,739,987.76 1,646,368.67 824,160.33 1,053,350.75 6,216,201.44 1,298,258.00 991,570.00 1,877,865.00 2,994,410.00 3,809,956.00 1,011,330.00 2,269,630.47 2,738,243.94 1,611,570.26 2,474,312.66 1,968,268.84 5,532,900.20 2,142,187.50 2,117,720.17 1,612,381.48 647,438.43 849,659.80 3,690,459.00 2,069,640.34 1,465,314.66 2,547,864.00 988,900.67 876,776.33 3,365,565.94 2,496,475.00 3,235,750.42 1,415,331.45 433,750.19 4,056,320.00 6,588,929.50 1,402,534.00 4,580,936.28 1,225,956.67 4,778,380.67 4,057,790.00 4,618,797.83 3,961,240.67 3,023,714.00 4,993,600.00 3,618,736.00 3,531,298.44 2,654,706.80 1,285,344.00 4,165,420.55 847,680.00 6,081,928.00 4,626,881.42 2,999,930.00
The accompanying notes are an integral part of these financial statements.
Page 28
Market value
Unaudited accrued Interest
% of total net assets
1,030,890.00 1,067,610.00 5,938,545.00 1,054,550.00 7,756,761.00 3,409,490.00 1,466,766.00 514,855.00 10,343,200.00 369,668.00 1,552,020.00 4,369,875.00 233,865.00 3,807,189.00 2,782,431.00 1,684,656.00 842,341.21 1,102,448.50 6,392,678.00 1,311,037.00 1,027,240.00 1,961,522.00 3,038,790.00 3,871,022.00 1,026,540.00 2,288,550.00 2,776,669.50 1,640,835.00 2,506,174.00 1,979,914.00 5,609,750.00 2,038,140.00 2,433,505.88 1,671,488.84 650,956.65 919,258.85 3,761,716.00 2,098,700.00 1,479,954.00 2,595,415.50 1,005,560.00 870,640.00 3,388,125.00 2,671,275.00 3,422,125.00 1,447,935.00 471,405.00 4,094,480.00 6,685,172.00 1,427,888.00 4,682,557.00 1,290,084.00 5,110,908.00 3,988,526.00 4,575,080.00 4,044,840.00 3,026,353.00 5,121,150.00 3,757,608.00 3,649,832.00 2,745,309.60 1,312,788.00 4,365,229.00 897,216.00 5,903,190.00 4,964,544.00 3,174,360.00
3,750.00 4,250.00 65,193.75 13,500.00 85,531.67 2,090.28 10,854.86 5,250.00 6,111.11 4,025.00 5,618.75 44,116.81 2,719.44 19,656.25 26,381.25 22,500.00 12,984.11 6,545.14 47,958.89 2,148.61 10,864.58 19,395.83 32,458.33 22,888.14 7,107.64 20,794.40 44,625.00 31,454.50 52,356.94 21,658.31 10,416.67 13,114.22 9,427.54 4,748.41 12,735.32 12,648.78 53,418.75 27,766.67 16,163.19 37,853.33 5,241.67 13,883.33 31,597.22 26,857.64 18,532.99 17,187.50 3,918.40 18,983.33 131,643.75 6,774.44 70,798.26 15,600.00 109,633.33 56,255.42 112,500.00 10,861.11 23,490.00 33,645.83 27,000.00 31,166.67 36,549.33 21,725.00 65,770.83 11,250.00 64,422.92 39,500.00 14,083.33
0.08 0.09 0.48 0.09 0.63 0.28 0.12 0.04 0.84 0.03 0.13 0.36 0.02 0.31 0.23 0.14 0.07 0.09 0.52 0.11 0.08 0.16 0.25 0.32 0.08 0.19 0.23 0.13 0.20 0.16 0.46 0.17 0.20 0.14 0.05 0.07 0.31 0.17 0.12 0.21 0.08 0.07 0.28 0.22 0.28 0.12 0.04 0.33 0.54 0.12 0.38 0.10 0.42 0.32 0.37 0.33 0.25 0.42 0.31 0.30 0.22 0.11 0.36 0.07 0.48 0.40 0.26
UBAM - CORPORATE US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
1,300,000 6,000,000 2,000,000 3,000,000 5,600,000 5,800,000 2,000,000 7,500,000 2,000,000 1,700,000 1,855,000 1,000,000 2,000,000 3,700,000 2,200,000 4,250,000 3,150,000 1,250,000 5,000,000 1,400,000 1,500,000 5,000,000 3,250,000 1,000,000 500,000 3,100,000 4,700,000 5,500,000 4,100,000 3,000,000 1,000,000 2,000,000 2,500,000 500,000 2,500,000 550,000 1,000,000 4,100,000 1,000,000 900,000 1,000,000 1,000,000 674,000 750,000 6,900,000 1,600,000 2,400,000 2,700,000 750,000 900,000 3,030,000 200,000 2,000,000 3,000,000 14,010,000 2,000,000 1,900,000 2,100,000 1,250,000 7,400,000 1,300,000 2,000,000 1,000,000 3,500,000 1,500,000 1,000,000 2,000,000
Cost
HYUNDAI CAP AM REG 3.00 15-20 30/10S IMPERIAL TOBACCO FIN 3.75 15-22 21/07S IMPERIAL TOBACCO REGS 3.50 13-23 11/02S ING BANK REGS 5.80 13-23 25/09S ING REGS FL.R 16-19 22/03Q INGERSOLL RAND 4.25 14-23 15/06S INTESA SAN PAOLO 2.375 14-17 13/01S INTESA SAN PAOLO 3.875 13-18 16/01S INTESA SAN PAOLO 3.875 13-19 15/01S INTESA SANPAOLO SPA 5.25 14-24 12/01S INTL PAPER CO 4.75 11-22 15/02S JOHN DEERE CAP 3.35 14-24 12/06S JP MORGAN CHASE 1.85 16-19 22/03S JP MORGAN CHASE 3.25 12-22 23/09S JP MORGAN CHASE 3.30 16-26 01/04S JP MORGAN CHASE 4.50 12-22 24/01S JP MORGAN CHASE 6.30 09-19 23/04S JP MORGAN CHASE 4.40 10-20 22/07S JPMORGAN CHASE 2.75 15-20 23/06S JPMORGAN CHASE 3.20 16-26 15/06S JPMORGAN CHASE CO 3.90 15-25 15/07S JPMORGAN CHASE AND CO 2.35 14-19 28/01S JPMORGAN CHASE SUB 3.875 14-24 10/09S KERR MCGEE CORP 6.95 04-24 01/07S KEYSIGHT TECHNOLOGIES 4.55 15-24 30/10S KINDER MORGAN ENERGY 3.50 14-21 01/03S KINDER MORGAN ENERGY 3.95 12-22 01/09S KINDER MORGAN INC 3.05 14-19 01/12S KOC HLDG REGS 5.25 16-23 15/03S KOREA GAS CORP REGS 2.875 13-18 29/07S KOREA WESTERN POWER 2.875 13-18 10/10S KRAFT FOODS 5.375 12-20 10/02S KROGER 2.95 14-21 01/11S KROGER 3.50 16-26 01/02S LLOYDS BANK 2.30 13-18 27/11S LLOYDS BANK GRP REGS 4.582 15-25 10/12S LLOYDS TSB REGS 6.50 10-20 14/09S LOWE S COM 2.50 16-26 15/04S LUKOIL INT REG S 6.125 10-20 09/11S MACQUARIE 2.85 16-21 15/01S MACQUARIE BANK REGS 2.85 15-20 29/07S MACYS RETAIL HLDG 3.625 14-24 01/06S MARATHON OIL 2.70 15-20 01/06S MARATHON OIL 3.85 15-25 01/06S MCDONALD S 3.70 15-26 30/01S MCKESSON CORP 3.796 14-24 15/03S MEAD JOHNSON NUTRI 3.00 15-20 15/11S MEDTRONIC INC 3.15 15-22 15/0S MEDTRONIC INC 3.50 15-25 15/0S MERRILL LYNCH & CO 6.875 08-18 25/04S METLIFE INC SER B 7.717 09-19 15/02S MEXICHEM REGS 4.875 12-22 19/09S MITSUBISHI CORP 2.875 13-18 18/07S MITSUBISHI UFJ 2.00 13-18 28/02S MITSUBISHI UFJ 2.45 14-19 16/10S MIZUHO BANK REGS 2.40 15-20 26/03S MIZUHO CORP BANK REGS 2.95 12-22 17/10S MIZUHO FIN GROUP REGS 3.477 16-26 12/04S MIZUHO FINANCE 4.20 12-22 18/07S MOLEX ELECTRONICS TEC 2.878 15-20 15/04S MORGAN STANLEY 2.80 15-20 16/06S MORGAN STANLEY 3.70 14-24 23/10S MORGAN STANLEY 3.75 13-23 25/02S MORGAN STANLEY 4.00 15-25 23/07S MORGAN STANLEY 5.50 10-20 26/01S MORGAN STANLEY 5.50 11-21 28/07S MORGAN STANLEY 7.30 09-19 13/05S
1,298,804.00 6,175,401.01 2,047,216.00 3,263,168.89 5,600,000.00 6,307,641.50 2,007,000.00 7,715,398.59 2,068,280.50 1,858,049.00 2,036,771.45 1,010,810.00 2,013,500.22 3,751,076.00 2,197,382.00 4,650,165.00 3,660,741.00 1,281,140.00 5,135,150.06 1,440,166.89 1,530,020.17 5,079,500.40 3,242,345.35 1,216,950.00 499,830.00 3,113,578.67 4,423,974.83 5,445,376.93 4,236,890.50 3,009,300.00 993,040.00 2,262,940.00 2,534,838.43 498,815.00 2,506,100.00 555,010.58 1,147,370.33 4,074,170.00 1,062,500.00 917,010.25 1,004,990.00 996,580.00 584,695.70 615,465.92 7,158,231.73 1,683,520.00 2,413,104.00 2,734,209.00 760,268.33 851,965.00 3,707,505.97 198,052.00 1,989,760.00 2,987,820.00 14,132,979.12 2,011,400.00 1,894,048.00 2,124,612.15 1,244,959.37 7,392,438.59 1,308,905.00 2,001,300.00 1,042,110.00 3,598,795.33 1,699,375.00 983,660.00 2,231,357.61
The accompanying notes are an integral part of these financial statements.
Page 29
Market value
Unaudited accrued Interest
% of total net assets
1,348,399.00 6,355,740.00 2,073,540.00 3,312,570.00 5,636,456.00 6,447,744.00 2,007,220.00 7,694,925.00 2,059,460.00 1,825,443.00 2,073,166.55 1,079,753.50 2,021,120.00 3,883,890.00 2,284,634.00 4,730,760.00 3,544,317.00 1,366,725.00 5,163,350.00 1,442,798.00 1,624,485.00 5,123,250.00 3,380,292.50 1,161,160.00 512,617.50 3,116,058.00 4,783,707.00 5,591,850.00 4,257,891.00 3,080,520.00 1,027,280.00 2,255,140.00 2,629,625.00 541,720.00 2,517,850.00 552,838.00 1,116,080.00 4,193,316.00 1,093,900.00 922,095.00 1,025,390.00 994,230.00 636,384.06 689,047.50 7,490,088.00 1,740,000.00 2,509,152.00 2,887,974.00 822,135.00 982,854.00 3,514,315.20 211,396.00 2,058,842.00 3,019,380.00 14,292,161.40 2,032,980.00 1,960,078.00 2,225,223.00 1,349,337.50 7,429,304.00 1,332,773.00 2,102,640.00 1,063,570.00 3,755,850.00 1,673,325.00 1,145,310.00 2,299,520.00
6,500.00 99,375.00 27,027.78 45,916.67 2,183.13 12,748.92 22,034.72 132,395.83 35,520.83 41,650.00 33,042.19 1,675.00 9,969.44 32,400.69 19,561.67 82,875.00 36,933.75 24,138.89 2,673.61 3,608.00 26,812.50 49,611.11 38,480.90 34,556.94 3,791.67 36,166.00 61,367.64 13,513.19 62,781.25 36,177.08 6,388.89 41,805.56 12,086.81 8,020.83 5,270.83 1,400.06 19,138.89 19,930.56 8,677.08 11,756.25 11,954.17 2,920.14 1,465.95 2,326.04 144,453.67 17,714.67 9,000.00 24,806.25 7,656.25 11,171.88 87,684.41 2,735.42 25,875.00 20,333.33 70,555.92 12,533.33 11,365.69 15,820.35 23,625.00 44,369.17 1,415.56 13,772.22 13,020.83 61,055.56 35,291.67 23,222.22 19,061.11
0.11 0.52 0.17 0.27 0.46 0.52 0.16 0.63 0.17 0.15 0.17 0.09 0.16 0.32 0.19 0.38 0.29 0.11 0.42 0.12 0.13 0.42 0.28 0.09 0.04 0.25 0.39 0.46 0.35 0.25 0.08 0.18 0.21 0.04 0.20 0.04 0.09 0.34 0.09 0.08 0.08 0.08 0.05 0.06 0.61 0.14 0.20 0.24 0.07 0.08 0.29 0.02 0.17 0.25 1.16 0.17 0.16 0.18 0.11 0.60 0.11 0.17 0.09 0.31 0.14 0.09 0.19
UBAM - CORPORATE US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
7,000,000 2,600,000 3,000,000 3,800,000 500,000 10,000,000 3,000,000 7,200,000 4,700,000 2,000,000 2,000,000 3,611,000 3,863,000 1,500,000 2,300,000 2,000,000 500,000 3,000,000 910,000 2,000,000 9,000,000 300,000 6,400,000 3,500,000 500,000 1,500,000 1,000,000 2,600,000 1,000,000 1,400,000 4,200,000 3,600,000 1,000,000 500,000 300,000 1,200,000 2,600,000 3,000,000 6,000,000 900,000 3,650,000 3,000,000 2,300,000 1,300,000 500,000 4,000,000 500,000 4,000,000 1,000,000 3,200,000 1,500,000 400,000 750,000 2,500,000 1,800,000 1,500,000 6,000,000 500,000 2,100,000 5,900,000 800,000 1,000,000 2,100,000 1,500,000 6,300,000 1,400,000 4,301,000
Cost
MORGAN STANLEY EMTN 2.50 15-20 27/01S MORGAN STANLEY -F- 2.50 16-21 21/04S MOTIVA ENTERPRISES 5.75 10-20 15/01S MS EMTN SUB SERIE -F- 4.875 12-22 01/11S MURPHY OIL 2.50 12-17 01/12S NATIONAL BK AUSTRALIA 2.25 16-21 16/03S NBC UNIVERSAL 4.375 11-21 01/04S NEWELL RUBBERMAID 3.15 16-21 01/04S NEWELL RUBBERMAID 3.85 16-23 01/04S NISSAN MOTOR REGS 2.35 14-19 04/03S NOMURA HOLDING 6.70 10-20 04/03S NORDEA BANK REGS 4.25 12-22 21/09S NORDEA BANK 9 REGS 4.875 10-20 27/01S NORFOLK SOUTHERN 3.85 13-24 15/01S NORTHROP GRUMMAN 3.25 13-23 01/08S OMNICOM GROUP 3.625 12-22 01/05S ORACLE CORP 3.40 14-24 08/07S ORANGE 4.125 11-21 14/09S PACIFIC GAS & ELEC 3.50 15-25 15/06S PEMEX 3.50 16-20 23/07S PEMEX REGS 6.375 09-19 03/05S PENTAIR FINANCE 3.625 15-20 15/09S PERNOD RICARD REGS 5.75 11-21 07/04S PERRIGO FINANCE UN 3.50 16-21 15/03S PHILIP MORRIS 2.625 13-23 06/03S PHILIP MORRIS 3.60 13-23 15/11S PIONEER NAT RES CO 7.50 09-20 15/01S PNC BANK NA 2.45 15-20 05/11S PRIDE INTL 8.50 09-19 15/06S PROLOGIS 3.35 13-21 01/02S PROLOGIS 3.75 15-25 01/11S PRUDENTIAL FINANCIAL 3.50 14-24 15/05S PRUDENTIAL FINANCIAL 4.50 10-20 15/11S PRUDENTIAL FINANCIAL INC SER D TR 31 7.375 09-19 15/06S PRUDENTIAL FINANCIAL TR 27 6.00 07-17 01/12S QTEL INTL REGS 3.25 12-23 21/02S RABOBANK 3.95 12-22 09/11S RAS LAFFAN REGS 6.75 09-19 30/09S RELIANCE HLDGS REGS 5.40 12-22 14/02S RELIANCE INDUSTRIES L 4.125 15-25 28/01S REYNOLDS AMERICAN 4.45 15-25 12/06S REYNOLDS AMERICAN 8.125 15-19 23/06S REYNOLDS AMERICAN 4.00 15-22 12/06S RIO TINTO FIN USA LTD 3.50 12-22 22/03S RIO TINTO FINANCE USA 2.875 12-22 21/08S RIO TINTO FINANCE USA LTD 9.00 09-19 01/05S ROCKWELL COLLINS 5.25 09-19 15/07S ROYAL BANK OF CANADA 1.875 15-20 05/02S SABMILLER HOLDINGS 3.75 12-22 15/01S SANTANDER UK 2.875 15-20 16/10S SCHLUMBERGER INVEST 2.40 12-22 01/08S SES REGS 3.60 13-23 04/04S SHELL INTERNATIONA 3.25 15-25 11/05S SHELL INTL FINANCE 2.375 12-22 21/08S SINOPEC GR OVER REGS 3.90 12-22 17/05S SINOPEC GR OVER REGS 4.375 14-24 10/04S SINOPEC GRP OVER REGS 2.75 14-19 10/04S SK TELECOM REGS 2.125 12-18 01/05S SOCIETE GENERALE 5.00 14-24 17/01S SOLVAY FINANCE AMER 3.40 15-20 03/12S SOLVAY FINANCE 144A 4.45 15-25 03/12S SOUTHERN CO 1.55 16-18 01/07S SOUTHERN CO 2.95 16-23 01/07S SOUTHERN CO 3.25 16-26 01/07S STATE GRID REGS 2.75 14-19 07/05S STATOIL ASA 2.45 12-23 17/01S STATOILHYDRO ASA 5.25 09-19 15/04S
7,077,360.10 2,615,418.89 3,435,530.61 4,035,773.09 499,930.00 9,993,400.00 3,302,610.00 7,350,468.00 4,894,078.57 1,999,060.00 2,317,945.00 3,793,303.83 4,170,358.79 1,583,700.00 2,360,938.50 2,089,552.42 498,180.00 3,240,702.80 921,757.62 1,973,880.22 9,274,041.07 299,673.00 7,290,131.21 3,603,638.78 469,235.00 1,571,925.00 1,195,360.00 2,598,284.00 1,191,330.00 1,422,442.11 4,275,068.83 3,660,422.67 1,037,620.00 507,670.00 216,000.00 1,188,442.00 2,655,978.62 3,370,500.50 6,579,100.00 918,234.88 3,922,037.76 3,530,240.00 2,408,205.12 1,318,265.17 474,850.00 4,882,460.00 497,355.00 3,999,440.00 1,072,600.00 3,190,777.00 1,405,860.00 416,600.00 732,277.96 2,369,500.83 1,875,060.00 1,577,400.00 6,103,811.84 497,115.00 2,101,904.78 5,905,613.57 821,624.78 999,290.00 2,122,407.75 1,565,205.50 6,445,089.00 1,303,260.43 4,838,138.29
The accompanying notes are an integral part of these financial statements.
Page 30
Market value
Unaudited accrued Interest
% of total net assets
7,148,960.00 2,630,498.00 3,286,293.00 4,167,004.00 497,885.00 10,247,300.00 3,363,750.00 7,514,496.00 4,987,734.00 2,045,020.00 2,322,120.00 3,866,658.80 4,279,431.40 1,643,400.00 2,468,084.00 2,129,040.00 541,625.00 3,317,130.00 991,972.80 1,998,220.00 9,782,370.00 307,536.00 7,391,808.00 3,633,840.00 519,420.00 1,656,000.00 1,170,940.00 2,683,278.00 1,033,610.00 1,481,242.00 4,507,272.00 3,763,368.00 1,104,215.00 580,614.75 321,258.45 1,216,356.00 2,696,304.00 3,431,040.00 6,717,600.00 932,571.00 4,098,110.50 3,561,000.00 2,508,909.00 1,368,029.00 510,170.00 4,811,680.00 559,725.00 4,061,080.00 1,072,460.50 3,191,424.00 1,521,180.00 404,530.00 788,752.50 2,559,375.00 1,913,742.00 1,629,495.00 6,135,720.00 505,410.00 2,200,107.00 6,163,671.00 856,368.00 1,006,880.00 2,179,674.00 1,559,955.00 6,489,756.00 1,417,374.00 4,737,938.59
74,375.00 12,458.33 79,062.50 30,360.42 1,006.94 65,000.00 32,447.92 58,380.00 45,237.50 15,144.44 43,177.78 42,203.56 80,036.53 26,468.75 30,938.19 11,881.94 8,122.22 36,437.50 1,327.08 30,527.78 232,687.50 3,141.67 84,844.44 37,430.56 4,156.25 6,750.00 34,375.00 9,731.94 3,541.67 19,411.39 25,812.50 15,750.00 5,625.00 1,536.46 1,450.00 13,975.00 14,549.17 50,625.00 122,400.00 15,675.00 8,121.25 4,739.58 4,600.00 12,386.11 5,151.04 59,000.00 12,031.25 30,208.33 17,187.50 18,911.11 14,900.00 3,440.00 3,317.71 21,276.04 8,385.00 14,583.33 36,666.67 1,741.32 47,541.67 15,045.00 2,670.00 1,550.00 6,195.00 5,687.00 25,506.25 15,530.28 47,042.19
0.58 0.21 0.27 0.34 0.04 0.83 0.27 0.61 0.41 0.17 0.19 0.31 0.35 0.13 0.20 0.17 0.04 0.27 0.08 0.16 0.80 0.03 0.60 0.30 0.04 0.13 0.10 0.22 0.08 0.12 0.37 0.31 0.09 0.05 0.03 0.10 0.22 0.28 0.55 0.08 0.33 0.29 0.20 0.11 0.04 0.39 0.05 0.33 0.09 0.26 0.12 0.03 0.06 0.21 0.16 0.13 0.50 0.04 0.18 0.50 0.07 0.08 0.18 0.13 0.53 0.12 0.39
UBAM - CORPORATE US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
1,700,000 3,400,000 2,000,000 1,500,000 2,707,000 1,000,000 5,700,000 2,800,000 500,000 1,500,000 500,000 1,250,000 5,000,000 2,000,000 2,500,000 5,000,000 1,000,000 750,000 5,800,000 3,700,000 4,100,000 1,500,000 1,000,000 2,000,000 1,200,000 4,100,000 800,000 7,300,000 5,100,000 250,000 500,000 2,300,000 3,700,000 5,000,000 1,200,000 500,000 4,000,000 1,000,000 4,391,000 4,400,000 3,900,000 3,300,000 2,500,000 1,000,000 750,000 750,000 1,000,000 2,000,000 1,000,000 800,000
STRYKER 3.375 15-25 01/11S SUMITOMO BANK 2.45 15-20 20/10S SUMITOMO BANK 4.85 12-22 01/03S SUMITOMO MITSUI 3.40 14-24 11/07S SUNCOR ENERGY INC 6.10 08-18 01/06S TELEFONICA EMISIONES SA 4.57 13-23 27/04S TESCO PLC 5.50 07-17 15/11S TIME WARNER 5.00 09-20 01/02S TIME WARNER 8.75 08-19 14/02S TIME WARNER CABLE INC 6.75 08-18 01/04S TIME WARNER CABLE INC 8.25 09-19 01/04S TIME WARNER INC 3.55 14-24 01/06S TORONTO DOMINION BANK 1.75 15-18 23/07S TORONTO DOMINION BK 2.125 16-21 07/04S TOTAL CAPITAL 3.75 14-24 10/04S TOYOTA MOTOR CREDIT 1.40 16-19 20/05S TRANSCANADA PIPELINES 2.50 12-22 01/08S TRANSCANADA PIPELINES 7.125 09-19 15/01S UBS AG STAMFORD CT 2.375 14-19 14/08S UBS GROUP FDG REGS 3.00 16-21 15/04S UBS GROUP REGS 2.95 15-20 24/09S UNITED TECH CORP 6.125 08-19 01/02S UNITED TECHNOLOGIES 3.10 12-22 01/06S UNITEDHEALTH GROUP 2.875 14-21 15/12A UNITEDHEALTH GROUP 3.10 16-26 15/03S VERIZON COM 2.45 12-22 01/11S VERIZON COMMUNICATION 4.15 14-24 15/03S VERIZON COMMUNICATION 4.50 13-20 15/09S VERIZON COMMUNICATION 5.15 13-23 15/09S VODAFONE GROUP 2.50 12-22 26/09S VODAFONE GROUP 2.95 13-23 19/02S WALGREENS BOOTS 3.30 14-21 18/11S WALGREENS BOOTS 3.80 14-24 18/11S WALLGREENS BOOTS 1.75 16-18 30/05S WATSON PHARMACEUTICAL 3.25 12-22 01/10S WELLS FARGO & CO 4.60 11-21 01/04S WELLS FARGO & COMP 3.00 16-26 22/04S WELLS FARGO BANK 3.50 12-22 08/03S WELLS FARGO CO 2.15 13-19 15/01S WELLS FARGO CO 4.125 13-23 15/08S WELLS FARGO COMPANY 3.30 14-24 09/09S WILLIAMS PARTNERS 4.00 12-21 15/11S WM WRIGLEY JR REGS 2.90 13-19 21/10S WOORI BANK 4.75 14-24 30/04S WOORI BANK REGS 5.875 11-21 13/04S WPP FINANCE 3.625 12-22 07/09S WPP FINANCE 2010 3.75 14-24 19/09S XCEL ENERGY 4.70 10-20 15/05S XEROX 4.50 11-21 15/05S 21ST CENTURY FOX 3.00 12-22 15/09S
Floating rate bonds 1,500,000 3,555,000 1,500,000 1,350,000 1,500,000 3,000,000 5,540,000 2,000,000 1,600,000 2,900,000 4,100,000 2,600,000 1,500,000 4,000,000
US Dollar
ANZ BKING GROUP EMTN FL.R 12-22 08/08S AXA - BONDS 2006 FL.R 06-49 14/12S BARCLAYS BANK PLC REGS SUB FL.R 07-25/09S BARCLAYS BANK REGS FL.R 06-XX 15/06S BPCE REG S FL.R 09-XX 29/06S CREDIT AGRICOLE REGS FL.R 09-XX 13/10S CREDIT SUISSE GUERNSEY FL.R 07-15/05S DOMINION RESOURCES FL.R 14-54 01/10S EDF SA REGS FL.R 13-XX 29/01S GENERAL ELECTRIC CO FL.R 16-XX XX.XXS GENERAL MOTORS FIN FL.R 15-19 15/01Q HUTCH WHAM REGS FL.R 12-XX 07/05S LLOYDS BANK FL.R 11-21 16/12A METLIFE 3.048 12-22 15/12Q
Cost
Market value
Unaudited accrued Interest
% of total net assets
1,702,843.25 3,382,830.00 1,999,585.00 1,513,875.00 2,810,056.41 1,059,375.00 6,130,899.27 2,992,712.32 583,840.33 1,650,580.00 610,571.25 1,283,300.50 5,040,750.28 1,996,600.00 2,529,250.68 4,993,000.00 938,030.00 915,384.00 5,917,044.67 3,721,512.47 4,080,632.10 1,873,800.00 1,024,200.00 1,997,840.00 1,199,052.00 3,904,410.44 840,064.33 7,881,300.00 5,808,686.79 246,747.50 473,660.00 2,300,414.51 3,751,919.00 5,022,394.56 1,194,578.40 498,965.00 3,982,102.33 1,045,290.00 4,453,221.48 4,582,665.33 3,901,365.51 3,435,917.00 2,534,830.00 1,046,512.00 870,025.00 753,352.50 1,036,915.30 2,214,560.00 1,054,420.00 802,853.34
1,796,968.00 3,481,090.00 2,221,360.00 1,594,995.00 2,927,214.45 1,112,530.00 5,956,443.00 3,046,568.00 583,855.00 1,644,960.00 581,145.00 1,329,075.00 5,056,750.00 2,035,340.00 2,752,350.00 5,036,200.00 1,012,357.50 846,185.62 5,931,718.00 3,771,891.00 4,178,843.00 1,686,420.00 1,067,010.00 2,111,700.00 1,257,144.00 4,151,209.00 884,560.00 8,108,986.00 5,956,341.00 246,612.50 503,760.00 2,412,217.00 3,920,076.00 5,040,250.00 1,231,788.00 559,475.00 4,092,080.00 1,075,210.00 4,488,875.39 4,740,076.00 4,106,154.00 3,245,715.00 2,599,766.25 1,056,630.00 864,337.50 794,452.50 1,056,830.00 2,213,582.00 1,011,340.00 837,112.00
9,403.13 16,197.22 32,063.89 23,941.67 13,301.90 7,997.50 39,187.50 57,944.44 16,527.78 50,343.75 10,197.92 3,574.65 38,159.72 9,798.61 20,833.33 7,777.78 10,347.22 24,492.19 52,038.89 26,208.33 32,253.33 38,026.04 2,497.22 2,395.83 12,916.67 16,462.64 9,683.33 95,812.50 76,606.25 1,631.94 5,367.36 8,855.00 16,403.33 7,048.61 9,641.67 5,686.11 22,666.67 10,888.89 43,269.65 68,062.50 39,682.50 16,500.00 13,895.83 7,916.67 9,424.48 8,533.85 10,520.83 11,750.00 5,625.00 7,000.00
0.15 0.28 0.18 0.13 0.24 0.09 0.48 0.25 0.05 0.13 0.05 0.11 0.41 0.17 0.22 0.41 0.08 0.07 0.48 0.31 0.34 0.14 0.09 0.17 0.10 0.34 0.07 0.66 0.48 0.02 0.04 0.20 0.32 0.41 0.10 0.05 0.33 0.09 0.37 0.39 0.33 0.26 0.21 0.09 0.07 0.06 0.09 0.18 0.08 0.07
60,607,711.43
59,877,296.65
612,568.42
4.87
60,607,711.43 1,497,750.00 3,669,786.16 1,666,925.00 1,427,437.50 1,951,875.00 3,530,357.14 5,514,800.06 2,000,000.00 1,609,000.58 2,809,275.67 4,100,000.00 2,774,200.00 1,780,125.00 4,136,320.00
59,877,296.65 1,526,640.00 3,710,246.85 1,542,135.00 1,340,523.00 1,857,120.00 3,366,960.00 5,627,088.80 2,009,260.00 1,536,000.00 3,086,325.00 4,217,875.00 2,690,844.00 1,550,670.00 4,121,316.00
612,568.42 20,412.50 10,211.54 4,646.25 3,333.38 46,875.00 53,739.58 40,580.50 28,430.56 35,233.33 6,041.67 23,269.16 22,966.67 79,822.92 5,080.00
4.87 0.12 0.30 0.13 0.11 0.15 0.27 0.46 0.16 0.13 0.25 0.34 0.22 0.13 0.34
The accompanying notes are an integral part of these financial statements.
Page 31
UBAM - CORPORATE US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
500,000 800,000 2,000,000 5,000,000 2,100,000 9,900,000
NATIONAL AUSTRALIA BANK LTD NEW YORK REG S SUB FL.R 09-24/09S NIPPON LIFE INSUR FL.R 16-46 20/01S PRUDENTIAL FINANCIAL 5.875 12-42 15/09S RABOBANK NED. SUB FL.R 09-XX 29/12S RWE FL.R 12-72 12/10S SOCIETE GENERALE FL.R 07-XX 05/04S
Other transferable securities Bonds 900,000 1,000,000 7,000,000 1,000,000 1,300,000 3,500,000 250,000 1,300,000
Market value
Unaudited accrued Interest
% of total net assets
504,200.00 849,600.11 2,104,750.00 6,328,725.56 2,125,583.65 10,227,000.00
506,065.00 842,968.00 2,163,080.00 6,050,150.00 2,141,643.00 9,990,387.00
10,666.67 16,711.11 34,270.83 0.00 31,850.00 138,426.75
0.04 0.07 0.18 0.49 0.17 0.81
19,308,858.42
19,710,462.45
289,419.03
1.60
16,989,651.29
17,382,488.45
256,419.03
1.41
16,989,651.29 983,250.60 1,006,270.00 7,338,937.00 1,234,690.00 1,298,531.33 3,565,775.00 249,872.50 1,312,324.86
17,382,488.45 983,970.00 1,045,440.00 7,540,820.00 1,165,780.20 1,317,992.00 3,734,767.75 256,759.50 1,336,959.00
256,419.03 19,386.00 15,608.42 136,276.00 42,968.75 3,900.00 32,156.25 3,541.67 2,581.94
1.41 0.08 0.09 0.61 0.09 0.11 0.30 0.02 0.11
2,319,207.13
2,327,974.00
33,000.00
0.19
2,319,207.13 2,319,207.13
2,327,974.00 2,327,974.00
33,000.00 33,000.00
0.19 0.19
1,141,454,897.34
1,163,825,384.70
94.71
91,369,713.67
7.44
-26,407,009.37
-2.15
1,228,788,089.00
100.00
Cost
US Dollar
CHARTER COMM OPER 4.908 16-25 23/07S CHARTER COMM -144A- 3.579 15-20 23/07S CHARTER COMM -144A- 4.464 15-22 23/07S COX COMM. -144A- 9.375 08-19 15/01S KRAFT HEINZ FOODS 3.00 16-26 01/06S MEDTRONIC 144A 3.15 14-22 15/03S METROPOLITAN LIFE 144A 3.00 12 23 10/01S PERNOD RICARD 144A 3.25 16-26 08/06S
Floating rate bonds US Dollar
2,200,000 CLOVERIE PLC ZURIC FL.R 16-46 24/06S
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 32
UBAM - CORPORATE US DOLLAR BOND
Geographical classification of investments (by domicile of the issuer) United States of America France United Kingdom Japan The Netherlands Australia Canada Norway British Virgin Islands Mexico Italy Luxembourg Cayman Islands Ireland Germany Guernsey Turkey Sweden Jersey Island South Korea Denmark Colombia Qatar Spain Bermuda India Brazil
% of net assets 59.90 5.67 4.69 3.52 3.12 2.46 2.28 1.35 1.32 1.21 1.11 0.90 0.88 0.83 0.72 0.71 0.68 0.66 0.65 0.64 0.38 0.28 0.28 0.26 0.10 0.08 0.03 94.71
Page 33
UBAM - CORPORATE US DOLLAR BOND
Industrial classification of investments % of net assets 34.06 21.45 6.17 5.36 2.92 2.81 2.65 2.57 1.85 1.70 1.48 1.39 1.34 1.27 1.26 1.02 0.86 0.84 0.61 0.58 0.51 0.44 0.34 0.28 0.27 0.25 0.17 0.17 0.05 0.04
Banks and credit institutions Holding and finance companies Petroleum Communications Tobacco and alcoholic drinks Pharmaceuticals and cosmetics Utilities Insurance Retail trade, department stores Office supplies and computing Foods and non alcoholic drinks Real estate companies Biotechnology Electrical engineering and electronics Road vehicles Miscellaneous consumer goods Chemicals Building materials and trade Hotels and restaurants Aerospace industry Transportation Coal mining and steel industry Machine and apparatus construction Graphic art and publishing Healthcare and social services Electronics and semiconductors Miscellaneous trading companies Paper and forest products Precious metals and stones Internet and Internet services
94.71
Page 34
UBAM - CORPORATE US DOLLAR BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
17,470,784.21
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
16,896,375.75 22,644.11 551,562.15 202.20 4,004,865.61
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
2,034,333.31 507,343.76 164,071.40 480,704.78 10,941.12 1,791.37 8,945.34 72,528.48 383,401.73 1,371.32 317,058.55 22,374.45 13,465,918.60
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-506,945.73 158,265.62 3,544,739.75 -755,101.54 -87,315.79 37,554.45 15,857,115.36
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
33,910,747.73 -4,073,560.75 409,385.84 -989,930.69 45,113,757.49
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-2,416,414.37 585,799,410.46 49,147,399.10 -117,588,334.68 -10,630,238.21
Total changes in net assets
549,425,579.79
Total net assets at the beginning of the period
679,362,509.21
Total net assets at the end of the period
1,228,788,089.00
The accompanying notes are an integral part of these financial statements.
Page 35
UBAM - DYNAMIC EURO BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
500,915,631.27
Securities portfolio at market value Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Unrealised gain on forward foreign exchange contracts
Note 2
474,038,260.45 23,628,228.28 346,560.63 38,345.63 2,709,049.35 155,186.93
Note 2 Note 2, 8
Liabilities
657,583.12
Unrealised loss on futures contracts Unrealised loss on swap contracts Interest payable on bank liabilities and expenses payable
Note 2, 9 Note 2, 10
108,205.00 102,736.11 446,642.01
Net assets at the end of the period
500,258,048.15
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
Capitalisation shares
625,011.931
117,276.816
218,925.045
523,363.702
Distribution shares
614,648.590
12,584.000
363,146.444
264,086.146
16,145.535
1,470.300
2,470.000
15,145.835
26,348.000
0.000
10,295.000
16,053.000
Capitalisation shares
893,468.570
44,162.125
216,842.352
720,788.343
Distribution shares
881,037.197
4,745.624
28,199.000
857,583.821
165,346.311
400.000
23,664.887
142,081.424
7,530.000
70.000
0.000
7,600.000
12,173.282
3,720.000
250.075
15,643.207
10.000
1,507.992
0.000
1,517.992
1,960.000
0.000
1,950.000
10.000
10.000
0.000
0.000
10.000
A shares
AH CHF shares
Capitalisation shares
AH GBP shares
Capitalisation shares
I shares
IH CHF shares
Capitalisation shares
IH GBP shares
Capitalisation shares
U shares
Capitalisation shares Distribution shares
UH CHF shares
Capitalisation shares Distribution shares
The accompanying notes are an integral part of these financial statements.
Page 36
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - DYNAMIC EURO BOND Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
Capitalisation shares
10.000
0.000
0.000
10.000
Distribution shares
10.000
0.000
0.000
10.000
10.000
0.000
0.000
10.000
160,242.067
6,913.905
43,303.305
123,852.667
UH USD shares
UH GBP shares
Capitalisation shares
R shares
Capitalisation shares
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
500,258,048.15
645,413,258.17
586,312,915.61
EUR
EUR
EUR
523,363.702 254.44
625,011.931 254.52
736,202.177 255.49
264,086.146 162.67 1.88
614,648.590 164.59 2.77
513,334.015 167.99 2.73
CHF
CHF
CHF
15,145.835 319.44
16,145.535 320.39
31,114.019 325.10
GBP
GBP
GBP
16,053.000 102.15
26,348.000 101.73
31,767.000 101.24
EUR
EUR
EUR
720,788.343 260.04
893,468.570 259.81
635,142.060 260.18
857,583.821 97.18 1.27
881,037.197 98.36 1.65
684,401.000 100.14 -
The accompanying notes are an integral part of these financial statements.
Page 37
UBAM - DYNAMIC EURO BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
500,258,048.15
645,413,258.17
586,312,915.61
CHF
CHF
CHF
142,081.424 101.62
165,346.311 101.80
431,644.914 103.06
GBP
GBP
GBP
7,600.000 103.53
7,530.000 102.98
22,045.000 102.24
-
-
26,770.000 99.66 1.61
EUR
EUR
EUR
15,643.207 99.46
12,173.282 99.47
-
1,517.992 98.33 1.28
10.000 99.61 -
-
CHF
CHF
CHF
10.000 98.74
1,960.000 98.87
-
10.000 97.49 1.28
10.000 98.91 -
-
USD
USD
USD
10.000 100.62
10.000 100.00
-
10.000 98.64 1.28
10.000 99.51 -
-
GBP
GBP
GBP
10.000 100.48
10.000 100.00
-
The accompanying notes are an integral part of these financial statements.
Page 38
UBAM - DYNAMIC EURO BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
500,258,048.15
645,413,258.17
586,312,915.61
EUR
EUR
EUR
123,852.667 249.68
160,242.067 250.00
88,685.454 251.47
The accompanying notes are an integral part of these financial statements.
Page 39
UBAM - DYNAMIC EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
2,000,000 700,000 2,000,000 5,000,000 1,000,000 6,550,000 2,000,000 3,000,000 2,500,000 3,490,000 9,500,000 2,900,000 3,274,000 4,000,000 3,000,000 8,000,000 2,800,000 2,000,000 5,000,000 300,000 5,000,000 1,000,000 3,500,000 3,000,000 5,000,000 5,000,000 7,650,000 2,500,000 5,000,000 2,493,000 3,000,000 1,500,000 700,000
Euro
ACHMEA BV 0.875 15-18 17/09A ADECCO INT FIN EMTN 2.75 13-19 15/11A ADECCO INT FINANCIAL 4.75 11-18 13/04A AMERICA MOVIL 1.00 14-18 04/06A AUTO.PARIS RHIN RHONE 5.125 12-18 18/01A BAYERISCHE LDBK EMTN 5.75 07-17 23/10A BBVA SENIOR FIN EMTN 3.75 13-18 17/01A BHARTI AIRTEL 4.00 13-18 10/12A CRH FINANCE 5.00 12-19 25/01A EDP FINANCE 5.75 12-17 21/09A EDP FINANCE EMTN 4.75 09-16 26/09A FGA CAPITAL IRE EMTN 2.875 14-18 26/01A FORTIS BANK 5.757 07-17 04/10A GAS NATURAL CAPITAL 4.125 10-18 26/01A GAS NATURAL CAPITAL 4.375 09-16 02/11A GENERAL MOTORS 0.85 15-18 23/02A GLENCORE FINANCE 4.625 12-18 03/04A HUTCHISON WHAMPOA 2.50 12-17 06/06A IPIC GMTN REG 2.375 12-18 30/05A KBC GROEP 1.00 16-21 26/04A KOREA GAS CORP 2.375 13-19 15/04A KPN GMTN 4.75 06-17 17/01A KPN NV 7.50 09-19 04/02A MET LIFE GLOBAL FDG 2.375 12-19 30/09U MEXICAN STATES 4.25 10-17 14/07A MORGAN STANLEY GRP 5.50 07-17 02/10A NOMURA EUR.FIN.EMTN 1.875 13-18 29/05A PEMEX 3.75 16-19 15/03A PEMEX 5.50 09-17 09/01A PEMEX PROJ FDG MSTR 6.375 04-16 05/08A SOCIETE GENERALE 6.125 08-18 20/08A SOLVAY SA EMTN 4.625 03-18 27/06A VATTENFALL TREAS EMTN 5.00 03-18 18/06A
Floating rate bonds 5,000,000 14,900,000 6,000,000 3,500,000 7,500,000 4,071,000 9,650,000 8,250,000 11,000,000 2,000,000 6,000,000 3,000,000 7,000,000 8,000,000 6,068,000 2,100,000 8,517,000 500,000 3,000,000 2,750,000 9,000,000 506,000 3,880,000 5,500,000 6,000,000 1,700,000 2,968,000
Market value
Unaudited accrued Interest
% of total net assets
465,295,350.15
464,003,780.45
2,707,794.16
92.75
121,890,748.31
120,132,398.52
2,569,219.03
24.01
121,890,748.31 2,020,060.52 754,964.72 2,225,600.00 5,078,531.38 1,102,450.18 7,036,657.04 2,133,900.82 3,222,900.00 2,829,250.25 3,758,893.72 10,074,750.00 3,017,160.43 3,727,701.42 4,297,061.01 3,256,020.00 7,981,231.10 2,973,600.71 2,057,600.92 5,193,001.26 298,188.00 5,279,001.03 1,083,211.51 4,251,548.30 3,210,870.84 5,270,000.67 5,445,760.64 7,889,176.48 2,587,500.10 5,153,000.99 2,741,810.19 3,515,400.00 1,647,440.18 776,503.90
120,132,398.52 2,032,700.00 755,965.00 2,171,100.00 5,084,700.00 1,079,540.00 6,977,125.50 2,111,740.00 3,219,960.00 2,814,425.00 3,727,808.60 9,597,755.00 3,004,574.00 3,500,397.10 4,259,080.00 3,043,290.00 8,076,960.00 2,961,336.00 2,046,380.00 5,210,700.00 305,790.00 5,281,300.00 1,025,790.00 4,172,665.00 3,210,480.00 5,218,300.00 5,342,150.00 7,893,652.50 2,615,175.00 5,123,200.00 2,504,816.82 3,356,280.00 1,638,180.00 769,083.00
2,569,219.03 13,722.68 11,991.80 20,301.37 3,561.64 22,964.48 258,286.54 33,811.48 66,905.00 53,620.22 155,166.73 342,752.73 35,536.89 139,045.71 69,877.05 86,424.18 23,781.42 31,576.00 3,287.67 109,016.39 534.25 24,726.03 21,413.93 105,430.33 53,534.00 204,371.58 204,371.58 12,575.34 27,482.88 129,986.34 143,296.41 158,145.49 570.21 1,150.68
24.01 0.41 0.15 0.43 1.02 0.22 1.39 0.42 0.64 0.56 0.75 1.93 0.60 0.70 0.85 0.61 1.61 0.59 0.41 1.04 0.06 1.06 0.21 0.83 0.64 1.04 1.07 1.58 0.52 1.02 0.50 0.67 0.33 0.15
343,404,601.84
343,871,381.93
138,575.13
68.74
343,404,601.84 5,016,050.00 15,045,951.92 5,997,395.40 3,500,000.00 7,515,090.00 4,081,023.35 9,623,790.20 8,220,358.16 11,000,000.00 2,000,000.00 6,045,112.47 2,908,200.78 7,078,050.00 8,000,000.00 6,070,752.00 2,079,414.08 8,512,748.38 500,000.00 3,005,251.34 2,750,000.00 9,000,000.00 535,840.08 3,888,186.12 5,499,626.00 6,000,528.93 1,700,000.00 2,975,212.51
343,871,381.93 5,005,425.00 14,999,085.00 5,989,350.00 3,537,205.00 7,512,300.00 4,088,464.59 9,634,849.50 8,216,010.00 11,014,190.00 2,000,980.00 6,056,160.00 2,952,570.00 7,057,190.00 8,000,000.00 6,073,279.16 2,098,824.00 8,519,044.08 500,680.00 3,004,470.00 2,749,175.00 9,017,910.00 530,191.86 3,894,006.80 5,503,685.00 6,000,000.00 1,704,879.00 2,975,716.80
138,575.13 1,333.33 4,350.80 1,741.50 616.78 2,075.63 863.05 762.48 256.21 708.89 313.50 760.00 514.50 2,423.17 0.00 9,834.21 0.00 7,168.48 38.96 325.50 847.00 0.00 5,395.98 5,106.19 3,038.75 1,819.00 1,148.44 112.12
68.74 1.00 3.00 1.20 0.71 1.50 0.82 1.93 1.64 2.20 0.40 1.21 0.59 1.41 1.60 1.21 0.42 1.70 0.10 0.60 0.55 1.80 0.11 0.78 1.10 1.20 0.34 0.59
Cost
Euro
ABBEY NAT TREA SER FL.R 15-17 11/08Q ABN AMRO BANK FL.R 13-17 05/12Q ACHMEA BANK NV FL.R 15-18 18/05Q ANHEUSER-BUSCH INB FL.R 16-20 17/03Q AQUARIUS INVT EMTN FL.R 14-17 20/05Q AT T FL.R 14-19 04/06Q BANK OF AMERICA FL.R 07-17 23/05M BANK OF AMERICA-SUB- FL.R 06-18 28/03Q BANK OF NOVA SCOTIA FL.R 15-18 10/09Q BFCM FL.R 16-20 03/06Q BFCM REGS EMTN FL.R 14-19 20/03Q BHP BILLITON FIN FL.R 15-20 28/04Q BPCE SA EMTN FL.R 13-18 28/05Q CANADIAN IMPERIAL FL.R 15-17 08/09Q CITIGROUP INC FL.R 04-19 10/02Q CITIGROUP INC EMTN SUB FL.R 07-17 31/05A CITIGROUP INC EMTN VAR FL.R 05-17 30/11Q CREDIT SUISSE FL.R 14-17 15/12Q DANSKE BANK FL.R 14-18 19/11Q DEUTSCHE TEL INT FIN FL.R 16-20 03/04Q DH EUROPE FINANCE FL.R 15-17 30/06Q ENEL FL.R 12-18 20/02S FCA CAPITAL IRELAND P FL.R 15-17 17/10Q FCE BANK PLC FL.R 14-16 15/11Q FCE BANK PLC FL.R 15-18 10/02Q FEDEX CORP FL.R 16-19 11/04Q GE CAPITAL EURO FUNDI FL.R 14-18 19/06Q
The accompanying notes are an integral part of these financial statements.
Page 40
UBAM - DYNAMIC EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
5,000,000 6,000,000 2,000,000 10,000,000 10,000,000 2,900,000 6,000,000 6,000,000 2,000,000 5,000,000 6,000,000 5,500,000 3,500,000 2,700,000 1,798,000 3,000,000 4,000,000 6,000,000 3,000,000 10,000,000 8,000,000 10,800,000 3,500,000 4,000,000 6,000,000 8,000,000 13,800,000 20,000,000 2,200,000 4,000,000 6,600,000 5,500,000 2,000,000
GOLDMAN SACHS GROUP FL.R 15-17 27/07Q GOLDMAN SACHS GROUP FL.R 15-18 11/09Q GOLDMAN SACHS GROUPFL.R 16-19 29/04Q HBOS EMTN FL.R 04-16 01/09Q HBOS EMTN FL.R 07-17 21/03Q ING FL.R 15-17 14/08Q ING REGS 151 FL.R 15-18 20/08S INTESA SANPAOLO SPA FL.R 07-17 18/05Q JOHN DEERE BANK SA FL.R 16-20 21/04Q JP MORGAN CHASE FL.R 14-19 07/05Q JP MORGAN CHASE CO FL.R 16-18 14/06Q LEASEPLAN CORP FL.R 14-17 28/04Q MACQUARIE FL.R 15-17 27/10Q MORGAN STANLEY FL.R 14-19 19/11Q NAT.AUST.BK FL.R 15-18 16/01Q NATIONAL AUSTRALIA BK FL.R 14-19 25/03Q NATIONAL BANK CANADA FL.R 15-17 09/09Q NEDERLANDSE GASUNIE FL.R 15-18 16/10Q RCI BANQUE FL.R 15-18 16/07Q ROYAL BANK OF CANADA FL.R 15-18 22/10Q SANTANDER CONS.SUB FL.R 06-16 28/09Q SANTANDER ISSUAN.EMTN FL.R 07-17 23/03Q SEB FL.R 16-20 26/05U SOCIETE AUT PARIS RHINFL.R 14-19 31/03Q SOCIETE GENERALE FL.R 15-18 22/07Q SOLVAY SA FL.R 15-17 01/12Q TELEFONICA EMIS SA FL.R 14-17 10/04Q UNICREDIT FL.R 14-17 10/04Q VOLVO TREASURY AB FL.R 16-18 20/06Q VOLVO TREASURY AB FL.R 14-16 05/09Q VOLVO TREASURY AB FL.R 14-17 11/09Q VONOVIA FINANCE BV FL.R 15-17 15/12Q WELLS FARGO REGS 56 FL.R 14-19 24/04Q
Other transferable securities Bonds Euro
3,000,000 RCI BANQUE SA
Market value
Unaudited accrued Interest
% of total net assets
5,000,000.00 5,999,238.17 2,000,000.00 9,983,000.00 9,997,000.00 2,928,855.00 6,016,042.17 5,941,285.71 2,000,000.00 5,019,450.55 6,000,000.00 5,504,241.70 3,500,000.04 2,685,907.18 1,799,977.80 3,002,190.00 4,000,000.00 6,000,000.00 3,003,648.75 10,000,000.00 7,949,000.00 10,702,000.00 3,518,375.00 4,028,440.33 6,000,000.00 8,006,500.64 13,839,200.00 20,104,890.91 2,200,000.00 3,999,061.54 6,621,663.12 5,504,750.83 2,001,300.68
5,013,400.00 6,024,600.00 1,998,640.00 9,993,600.00 9,990,400.00 2,915,834.00 6,021,780.00 5,993,100.00 1,999,040.00 5,026,700.00 6,000,180.00 5,502,200.00 3,501,207.50 2,709,477.00 1,799,042.84 3,010,380.00 4,002,160.00 6,010,200.00 3,010,830.00 10,037,200.00 8,000,510.80 10,783,908.00 3,523,100.00 4,033,240.00 6,018,960.00 8,050,640.00 13,836,570.00 20,077,800.00 2,195,919.00 4,000,960.00 6,601,782.00 5,549,940.00 2,002,440.00
2,666.67 1,099.33 1,546.56 4,341.94 1,087.50 1,638.50 1,660.50 0.00 385.00 2,491.67 0.00 1,905.75 1,555.56 1,395.45 105.73 57.75 44.33 1,447.83 2,056.25 3,469.17 252.89 1,016.40 1,163.75 0.00 2,081.50 3,602.44 15,425.33 31,244.44 119.78 261.33 585.93 1,574.38 737.00
1.00 1.20 0.40 2.00 2.00 0.58 1.20 1.20 0.40 1.00 1.20 1.10 0.70 0.54 0.36 0.60 0.80 1.20 0.60 2.01 1.60 2.16 0.70 0.81 1.20 1.61 2.77 4.02 0.44 0.80 1.32 1.11 0.40
10,001,171.40
10,034,480.00
1,255.19
2.01
3,001,171.40
3,014,070.00
616.44
0.60
3,001,171.40 3,001,171.40
3,014,070.00 3,014,070.00
616.44 616.44
0.60 0.60
7,000,000.00
7,020,410.00
638.75
1.41
7,000,000.00 2,000,000.00 5,000,000.00
7,020,410.00 2,003,960.00 5,016,450.00
638.75 0.00 638.75
1.41 0.40 1.01
475,296,521.55
474,038,260.45
94.76
23,628,228.28
4.72
2,591,559.42
0.52
500,258,048.15
100.00
Cost
0.375 19-19 10/07A
Floating rate bonds Euro
2,000,000 AIR LIQUIDE FINANCE FL.R 16-18 13/06Q 5,000,000 DAIMLER FL.R 16-18 09/03Q
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 41
UBAM - DYNAMIC EURO BOND
Geographical classification of investments (by domicile of the issuer) The Netherlands United States of America Spain France United Kingdom Canada Italy Mexico Luxembourg Sweden Belgium Ireland Germany Australia Cayman Islands South Korea Denmark
% of net assets 19.04 15.51 8.41 7.52 7.40 6.61 5.33 4.10 3.57 3.41 3.41 2.69 2.40 2.25 1.45 1.06 0.60 94.76
Industrial classification of investments % of net assets 52.98 23.61 5.65 3.24 1.94 1.37 1.32 1.11 1.04 1.01 0.78 0.71
Banks and credit institutions Holding and finance companies Communications Petroleum Chemicals Transportation Utilities Real estate companies Countries and central government Road vehicles Healthcare and social services Tobacco and alcoholic drinks
94.76
Page 42
UBAM - DYNAMIC EURO BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
3,939,719.89
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
3,182,439.27 138.35 757,137.07 5.20 1,505,128.49
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
655,212.84 289,846.79 76,592.48 296,809.93 5,549.44 1,162.71 7,344.06 19,558.76 91,676.84 630.00 27,175.48 33,569.16 2,434,591.40
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-3,999,565.38 73,225.31 -903,247.86 -17,623.56 -199,586.28 -17,335.58 -2,629,541.95
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
2,902,501.44 489,008.19 -308,360.00 -846,655.40 -393,047.72
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-2,117,584.58 43,844,445.47 2,675,811.37 -127,153,800.58 -62,011,033.98 -145,155,210.02
Total net assets at the beginning of the period
645,413,258.17
Total net assets at the end of the period
500,258,048.15
The accompanying notes are an integral part of these financial statements.
Page 43
UBAM - DYNAMIC US DOLLAR BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
670,094,227.63
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Unrealised gain on swap contracts Other receivables
Note 2
630,205,977.05 33.60 33,960,765.78 1,073,244.49 33,065.09 2,637,503.54 2,145,020.09 2,540.19 36,077.80
Note 2
Note 2, 10
Liabilities
4,695,743.85
Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Unrealised loss on futures contracts Payable on treasury transactions Interest payable on bank liabilities and expenses payable
924,509.87 2,414,115.12 725,218.75 745.42 631,154.69
Note 2, 8 Note 2, 9 Note 2
Net assets at the end of the period
665,398,483.78
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
A EUR shares
Capitalisation shares
AH EUR shares
Capitalisation shares
AH CHF shares
Capitalisation shares
AH GBP shares
Capitalisation shares
I shares
Capitalisation shares
I EUR shares
Capitalisation shares
IH EUR shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
1,859,502.116
316,567.330
575,597.399
1,600,472.047
59,476.084
25,235.000
14,678.587
70,032.497
191,202.619
110,304.163
58,618.678
242,888.104
2,526.022
30,453.428
11,156.438
21,823.012
6,318.988
590.000
181.000
6,727.988
20,887.749
8,308.000
3,061.000
26,134.749
591,642.113
234,513.420
174,447.219
651,708.314
11,618.378
42,130.508
23,336.007
30,412.879
955,232.902
11,655.000
835.000
966,052.902
The accompanying notes are an integral part of these financial statements.
Page 44
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - DYNAMIC US DOLLAR BOND Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
141,020.000
73,900.000
175,090.000
39,830.000
12,610.000
2,725.000
600.000
14,735.000
1,610.000
695.000
210.000
2,095.000
Capitalisation shares
26,890.804
20,191.407
941.129
46,141.082
Distribution shares
12,283.410
8,723.000
1,583.000
19,423.410
Capitalisation shares
10.000
550.320
0.000
560.320
Distribution shares
10.000
0.000
0.000
10.000
2,088.000
0.000
100.000
1,988.000
10.000
0.000
0.000
10.000
15.000
1,053.406
0.000
1,068.406
63,812.171
14,888.565
5,988.509
72,712.227
IH CHF shares
Capitalisation shares
IH GBP shares
Capitalisation shares Distribution shares
U shares
UH EUR shares
UH CHF shares
Capitalisation shares Distribution shares
UH GBP shares
Capitalisation shares
R shares
Capitalisation shares
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
A EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
665,398,483.78
693,720,734.39
452,521,311.40
USD
USD
USD
1,600,472.047 212.29
1,859,502.116 211.18
1,581,253.770 211.09
70,032.497 132.29 1.79
59,476.084 133.38 1.80
89,671.264 135.12 1.67
EUR
EUR
EUR
242,888.104 103.24
191,202.619 105.03
-
The accompanying notes are an integral part of these financial statements.
Page 45
UBAM - DYNAMIC US DOLLAR BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
I EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
665,398,483.78
693,720,734.39
452,521,311.40
EUR
EUR
EUR
21,823.012 99.46
2,526.022 99.47
-
CHF
CHF
CHF
6,727.988 216.02
6,318.988 216.60
4,937.988 220.40
GBP
GBP
GBP
26,134.749 102.46
20,887.749 102.02
6,530.000 101.78
USD
USD
USD
651,708.314 217.02
591,642.113 215.62
395,966.178 215.02
EUR
EUR
EUR
30,412.879 102.49
11,618.378 104.14
-
EUR
EUR
EUR
966,052.902 99.87
955,232.902 99.74
-
CHF
CHF
CHF
39,830.000 100.92
141,020.000 101.06
124,460.357 102.59
GBP
GBP
GBP
14,735.000 137.32
12,610.000 136.57
17,667.214 135.91
2,095.000 130.32 1.96
1,610.000 131.55 1.77
2,760.000 132.69 1.62
The accompanying notes are an integral part of these financial statements.
Page 46
UBAM - DYNAMIC US DOLLAR BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
665,398,483.78
693,720,734.39
452,521,311.40
USD
USD
USD
46,141.082 100.50
26,890.804 99.95
-
19,423.410 99.00 1.49
12,283.410 99.94 -
-
EUR
EUR
EUR
560.320 99.80
10.000 99.72
-
10.000 98.39 1.49
10.000 99.71 -
-
CHF
CHF
CHF
1,988.000 98.65
2,088.000 98.89
-
10.000 96.87 1.47
10.000 98.54 -
-
GBP
GBP
GBP
1,068.406 100.42
15.000 99.98
-
USD
USD
USD
72,712.227 203.28
63,812.171 202.42
10,720.429 202.75
The accompanying notes are an integral part of these financial statements.
Page 47
UBAM - DYNAMIC US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
4,000,000 2,000,000 620,000 1,000,000 2,476,000 2,000,000 1,000,000 3,000,000 1,300,000 2,000,000 4,000,000 8,350,000 5,400,000 7,513,000 2,000,000 3,000,000 1,000,000 5,000,000 710,000 6,005,000 2,200,000 8,000,000 3,000,000 1,216,000 5,000,000 200,000 2,000,000 2,750,000 3,000,000 2,000,000 6,000,000 2,250,000 1,585,000 4,500,000 2,000,000 5,000,000 4,200,000 4,500,000 2,000,000 1,537,000 6,782,000 4,000,000 4,311,000 2,500,000 2,000,000 7,000,000 5,000,000 8,164,000 3,500,000 6,200,000 1,309,000
US Dollar
ABBVIE 1.80 15-18 14/05S ABBVIE INC 1.75 13-17 06/11S ACTAVIS FUNDING 2.35 15-18 12/03S ALTRIA GROUP INC 9.70 08-18 10/11S AMERICAN HONDA 7.625 08-18 01/10S AT T INC 5.50 08-18 01/02S AT T INC 1.70 12-17 01/06S BECTON DICKINSON CO 1.45 15-17 15/05S BFCM TR7 REGS 2.00 16-19 12/04S CREDIT AGRICOLE LONDON FL.R 16-21 01/07Q CREDIT SUISSE NY 2.30 14-19 28/05S DT ANNINGTON FINANCE 3.20 13-17 02/10S EBAY 2.50 16-18 09/03S ENEL FINANCE INTL 6.25 07-17 15/09S EXPORT IMP BK KOREA 2.875 13-18 17/09S GENERAL MOTORS 3.00 14-17 25/09S HEWLETT PACKARD REGS 2.85 15-18 05/10S HUTCH WHAM REGS 1.625 14-17 31/10S HUTCHISON WHAMPOA 3.50 12-17 13/01S IMPERIAL TABACCO 2.05 15-18 20/07S ING REGS FL.R 16-19 22/03Q INTESA SAN PAOLO 3.875 13-18 16/01S INTESA SAN PAOLO 3.875 13-19 15/01S KINDER MORGAN ENERGY 6.00 10-18 15/01S KOOKMIN BANK REGS 1.625 14-17 14/07S KOREA GAS CORP REGS 2.25 12-17 25/07S KOREA NATL OIL REGS 3.125 12-17 03/04S KRAFT HEINZ FOODS 2.00 15-18 02/07S LAFARGE SA 6.50 06-16 15/07S MACQUARIE GROUP LTD 4.875 10-17 10/08S MERRILL LYNCH & CO 6.875 08-18 25/04S METROPOLITAN LIFE144A 1.95 15-18 03/12S MIZUHO BANK REGS 1.70 14-17 25/09S NOMURA HOLDINGS A 2.75 14-19 19/03S ORANGE 2.75 14-19 06/02S PEMEX PROJ 5.75 07-18 01/03S PRUDENTIAL FINANCIAL INC SER D TR 31 7.375 09-19 15/06S RCI BANQUE REGS 3.50 13-18 03/04S SINOPEC GR OVER REGS 2.50 13-18 17/10S SOCIETE GENERAL 2.625 13-18 01/10S SOUTHERN POWER 1.85 15-17 12/01S SWEDBANK REGS 1.75 13-18 12/03S TELEFONICA EMIS SA 3.192 13-18 27/04S TESCO PLC 2.70 11-17 05/01S TESCO PLC 5.50 07-17 15/11S TIME WARNER CABLE INC 6.75 08-18 01/04S UBS AG STAMFORD 5.875 06-16 15/07A UNICREDIT F REGS SUB 6.00 07-17 31/10S WALGREENS BOOTS 1.75 14-17 17/11S WALLGREENS BOOTS 1.75 16-18 30/05S XSTRATA FINANCE REGS 2.70 12-17 25/10S
Floating rate bonds 3,405,000 980,000 375,000 5,700,000 3,500,000 1,000,000 5,715,000 11,216,000 5,600,000
Market value
Unaudited accrued Interest
% of total net assets
631,958,262.71
630,205,977.05
2,637,503.54
94.71
182,858,162.32
181,613,638.87
1,848,815.58
27.29
182,858,162.32 3,990,240.00 2,008,360.00 623,410.00 1,218,340.56 2,871,665.16 2,173,600.44 1,004,650.00 3,005,010.67 1,298,609.00 2,008,780.86 4,058,800.67 8,501,628.33 5,487,385.34 8,347,146.10 2,051,400.39 3,068,760.00 1,018,860.17 4,996,015.50 747,388.60 6,008,661.94 2,200,000.00 8,272,000.00 3,107,040.50 1,279,414.73 4,985,900.00 201,800.50 2,038,001.72 2,776,922.50 3,101,100.67 2,092,000.17 6,588,516.75 2,249,547.10 1,584,208.24 4,576,950.50 2,056,980.11 5,270,000.17 4,877,040.33 4,612,500.50 2,024,000.56 1,564,188.59 6,788,797.07 3,997,400.56 4,420,499.14 2,531,105.00 2,150,800.00 7,738,310.50 5,452,734.36 8,811,566.50 3,505,635.07 6,205,486.50 1,309,000.25
181,613,638.87 4,030,760.00 2,012,600.00 628,469.20 1,192,430.00 2,817,787.04 2,129,400.00 1,004,750.00 3,010,290.00 1,312,415.00 2,002,140.00 4,065,480.00 8,522,222.92 5,503,896.00 7,944,546.72 2,061,840.00 3,043,440.00 1,024,370.00 5,025,400.00 719,151.90 6,065,170.10 2,214,322.00 8,207,920.00 3,089,190.00 1,279,675.84 5,016,850.00 201,912.00 2,027,400.00 2,785,172.50 3,007,500.00 2,068,400.00 6,552,360.00 2,283,255.00 1,590,832.80 4,605,030.00 2,067,700.00 5,241,150.00 4,877,163.90 4,646,655.00 2,032,320.00 1,574,333.73 6,838,087.14 4,027,400.00 4,432,397.76 2,509,625.00 2,089,980.00 7,676,480.00 5,006,550.00 8,462,557.48 3,524,955.00 6,249,910.00 1,309,994.84
1,848,815.58 9,200.00 5,250.00 4,371.00 13,472.22 46,674.32 45,527.78 1,369.44 5,437.50 5,561.11 6,449.24 8,177.78 65,315.56 41,625.00 136,955.73 16,451.39 23,750.00 6,729.17 13,541.67 11,527.64 54,712.22 857.66 141,222.22 53,281.25 34,453.00 37,465.28 1,937.50 15,104.17 27,194.44 89,375.00 37,916.67 74,479.17 3,290.63 7,110.49 34,718.75 22,000.00 95,034.72 17,208.00 38,062.50 10,138.89 9,974.49 10,107.06 21,000.00 24,081.25 32,812.50 13,750.00 234,937.50 134,635.42 81,640.00 7,315.97 8,740.28 6,872.00
27.29 0.61 0.30 0.09 0.18 0.42 0.32 0.15 0.45 0.20 0.30 0.61 1.29 0.83 1.19 0.31 0.46 0.15 0.76 0.11 0.91 0.33 1.23 0.46 0.19 0.75 0.03 0.30 0.42 0.45 0.31 0.98 0.34 0.24 0.69 0.31 0.79 0.73 0.70 0.31 0.24 1.03 0.61 0.67 0.38 0.31 1.15 0.75 1.28 0.53 0.94 0.20
449,100,100.39
448,592,338.18
788,687.96
67.42
449,100,100.39 3,417,830.35 980,705.58 375,536.69 5,700,000.00 3,507,490.36 1,000,000.00 5,680,328.40 11,352,398.37 5,598,848.00
448,592,338.18 3,422,459.14 980,863.87 375,303.75 5,673,552.00 3,517,115.00 1,001,600.00 5,714,134.18 11,267,481.44 5,600,112.00
788,687.96 2,791.42 1,222.10 293.26 12,254.64 5,211.37 1,720.13 6,981.92 4,278.28 8,265.35
67.42 0.51 0.15 0.06 0.85 0.53 0.15 0.86 1.70 0.84
Cost
US Dollar
ACTAVIS FUNDING SCS FL.R 15-18 12/03Q ACTIVIS FUNDING FL.R 15-16 01/09Q AMERICA MOVIL SAB FL.R 13-16 12/09Q AMERICAN EXPRESS CRED FL.R 15-18 31/07Q AT T FL.R 13-18 27/11Q AUST & NZ BANKING FL.R 15-18 16/11Q BANK OF AMERICA FL.R 06-16 15/08Q BANK OF AMERICA CORP FL.R 13-18 22/03Q BARCLAYS BANK FL.R 14-17 20/02Q
The accompanying notes are an integral part of these financial statements.
Page 48
UBAM - DYNAMIC US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
4,000,000 8,000,000 5,000,000 2,000,000 9,000,000 6,500,000 3,000,000 2,000,000 4,000,000 4,000,000 14,000,000 500,000 5,500,000 8,000,000 6,000,000 7,000,000 6,000,000 2,500,000 3,000,000 1,500,000 2,000,000 5,000,000 2,800,000 2,333,000 2,813,000 4,000,000 2,000,000 300,000 2,000,000 2,574,000 5,000,000 4,000,000 5,700,000 4,250,000 6,105,000 5,108,000 10,745,000 10,000,000 2,000,000 5,250,000 4,500,000 8,500,000 8,280,000 7,318,000 7,000,000 4,947,000 5,000,000 7,000,000 2,000,000 3,500,000 5,400,000 3,300,000 1,200,000 11,000,000 5,109,000 7,000,000 7,000,000 4,000,000 8,500,000 4,250,000 5,000,000 9,000,000 4,000,000 5,200,000 2,600,000 10,410,000 977,000
Cost
BERKSHIRE HATHAWAY FL.R 16-18 07/03Q BFCM FL.R 14-17 20/01Q BFCM REGS FL.R 13-16 28/10Q BPCE SA FL.R 14-17 17/06Q BPCE TR.6 FL.R 14-17 10/02Q CAPITAL ONE NA FL.R 15-18 05/02Q CATERPILLAR FINANCE FL.R 16-18 23/02Q CITIGROUP FL.R 16-21 30/03Q CITIGROUP INC FL.R 15-18 27/04Q CITIGROUP INC FL.R 15-18 30/07Q CREDIT AGRICOLE 144A FL.R 14-17 12/06Q CS NY FL.R 14-17 26/05Q CS NY FL.R 15-18 29/01Q CWTH BANK AUSTRALIA FL.R 15-18 02/11Q DAIMLER FL.R 15-17 03/08Q DB LONDON -A- TR 471 FL.R 14-17 13/02Q DEUTSCHE BANK AG FL.R 15-18 13/02Q EBAY FL.R 14-17 28/07Q EDF SA REGS FL.R 14-17 20/01Q ENBRIDGE FL.R 13-16 01/10Q ENBRIDGE FL.R 14-17 02/06Q EXP IMP BANK KOREA FL.R 16-19 26/05Q EXP-IMP BANK KOREA FL.R 13-16 17/09Q EXP-IMP BK KOREA FL.R 14-17 14/01Q FORD MOTOR CRED FL.R 15-18 15/06Q FORD MOTOR CREDIT FL.R 14-17 06/12Q FORD MOTOR CREDIT FL.R 14-17 08/09Q GENERAL ELEC CAP C FL.R 06-18 07/08Q GENERAL MOTORS FL.R 15-18 10/04Q GENERAL MOTORS FIN FL.R 15-19 15/01Q GOLDMAN SACH GROUP FL.R 13-18 15/11Q GOLDMAN SACHS FL.R 13-18 30/04Q GOLDMAN SACHS GROUP FL.R 15-17 22/05Q GOLDMAN SACHS GRP FL.R 14-17 15/12Q HANA BANK REGS FL.R 13-16 09/11Q HBOS EMTN FL.R 07-17 06/09Q HBOS PLC FL.R 06-16 30/09Q HEWLETT PACKARD FL.R 15-17 05/10Q HOME DEPOT INC FL.R 15-17 15/09Q HYUNDAI CAP REGS FL.R 14-17 18/03Q ING BANK TR.6 REGS FL.R 15-18 17/08Q ING REGS FL.R 15-18 16/03Q JP MORGAN CHASE FL.R 13-18 25/01Q JP MORGAN CHASE FL.R 14-19 28/01Q KOOKMIN BANK FL.R 13-16 11/10Q KOOKMIN BANK TR2 REGS FL.R 14-17 27/01Q KOREA DEV BANK FL.R 14-17 22/01Q KROGER CO FL.R 13-16 17/10Q LOWE S COM FL.R 15/18 14/09Q MACQUARIE BANK LTD FL.R 14-17 27/10Q MIZUHO BANK LTD FL.R 14-17 25/09Q MIZUHO BANK REGS FL.R 15-18 20/10Q MIZUHO BANK REGS FL.R 15-18 26/03Q MORGAN STANLEY FL.R 13-18 25/04Q MORGAN STANLEY FL.R 14-19 24/01Q NAT.AUST.BK REGS FL.R 15-18 23/07Q NATIONAL BANK CANADA FL.R 15-18 14/12Q NISSAN MOTOR REGS FL.R 14-17 03/03Q NOMURA HOLDINGS FL.R 13-16 13/09Q NORDEA BANK REGS 13 FL.R 15-18 17/09Q RBC FL.R 15-18 10/12Q RBS FL.R 14-17 31/03Q ROYAL BANK CANADA FL.R 16-19 15/04Q SANTANDER UK FL.R 15-18 24/08Q SINOPEC GR REGS FL.R 14-17 10/04Q SOCIETE GENERALE FL.R 13-18 01/10Q STATOILHYDRO ASA FL.R 13-18 15/05Q
4,000,000.00 8,000,000.00 5,000,000.00 1,998,640.47 9,020,980.00 6,475,170.52 3,000,000.00 2,026,000.40 4,000,000.00 4,000,880.27 14,012,455.00 498,800.43 5,503,009.87 8,000,000.00 6,000,000.00 7,000,000.00 6,002,452.50 2,485,350.53 3,000,000.00 1,500,000.00 2,000,000.00 5,004,710.00 2,812,585.00 2,336,615.22 2,808,715.16 3,993,281.87 1,996,373.33 297,273.54 2,015,520.00 2,574,000.00 5,027,920.72 4,061,935.17 5,700,000.00 4,253,230.00 6,138,147.45 5,083,860.90 10,712,157.86 10,000,000.00 2,000,000.00 5,252,463.12 4,506,492.47 8,506,193.05 8,332,214.72 7,291,844.02 7,069,654.37 4,957,718.49 5,006,660.00 7,005,100.00 2,000,000.00 3,500,000.00 5,399,252.00 3,302,661.95 1,192,424.22 11,254,549.17 5,108,460.73 7,000,000.00 7,000,000.00 4,000,000.00 8,625,590.77 4,250,000.00 5,000,000.00 9,026,128.13 4,000,000.00 5,210,828.58 2,601,560.00 10,475,107.37 971,478.62
The accompanying notes are an integral part of these financial statements.
Page 49
Market value
Unaudited accrued Interest
% of total net assets
4,022,994.00 8,019,600.00 5,008,300.00 2,002,980.00 9,032,202.00 6,492,850.00 3,020,932.50 2,012,540.00 3,985,360.00 4,001,980.00 14,000,840.00 499,510.00 5,486,690.00 8,020,400.00 6,014,781.00 6,986,770.00 5,943,000.00 2,490,228.75 2,996,766.00 1,495,083.00 1,947,898.00 5,005,500.00 2,802,520.00 2,335,612.96 2,812,154.69 3,981,960.00 1,995,176.00 299,548.50 2,006,250.00 2,648,002.50 5,007,350.00 4,021,440.00 5,703,876.00 4,242,817.50 6,117,393.15 5,079,037.64 10,728,775.05 10,032,360.00 2,008,059.00 5,250,630.00 4,493,880.00 8,470,930.00 8,325,126.00 7,308,998.86 7,014,490.00 4,955,508.84 5,002,800.00 7,006,034.00 2,020,100.00 3,495,555.00 5,383,800.00 3,323,166.00 1,196,100.00 11,072,710.00 5,088,564.00 6,995,590.00 7,037,429.00 4,005,200.00 8,515,699.50 4,260,370.00 5,000,550.00 8,980,560.00 4,004,360.00 5,165,836.00 2,598,570.00 10,491,609.19 971,001.22
3,148.83 23,419.74 12,988.06 929.03 18,495.00 13,274.88 4,287.35 0.00 9,414.04 10,459.74 7,940.28 561.60 12,582.43 18,070.27 13,017.13 11,541.60 10,452.80 3,650.28 6,474.90 4,781.63 1,766.80 6,636.88 1,523.09 6,884.24 1,819.66 3,333.60 1,443.02 390.78 8,839.11 14,608.49 10,788.13 12,664.19 7,965.47 2,572.14 15,492.05 4,699.70 0.00 56,595.17 852.08 2,109.63 7,741.80 3,982.53 23,348.36 16,191.90 29,225.78 13,269.83 12,075.96 16,506.01 1,116.09 7,876.40 490.55 11,873.48 128.01 32,264.65 13,938.29 16,125.33 4,652.98 3,693.90 8,453.45 2,296.48 3,772.22 0.00 0.00 8,077.06 8,139.73 44,375.23 1,044.20
0.60 1.21 0.75 0.30 1.36 0.98 0.45 0.30 0.60 0.60 2.11 0.08 0.82 1.21 0.90 1.05 0.89 0.37 0.45 0.22 0.29 0.75 0.42 0.35 0.42 0.60 0.30 0.05 0.30 0.40 0.75 0.60 0.86 0.64 0.92 0.76 1.62 1.51 0.30 0.79 0.68 1.27 1.25 1.10 1.05 0.74 0.75 1.05 0.30 0.53 0.81 0.50 0.18 1.67 0.76 1.05 1.06 0.60 1.28 0.64 0.75 1.35 0.60 0.78 0.39 1.59 0.15
UBAM - DYNAMIC US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
6,500,000 8,500,000 4,500,000 5,000,000 3,000,000 3,000,000 2,000,000 4,000,000 4,500,000 2,000,000 2,600,000 2,505,000 4,530,000 6,500,000 7,000,000 7,000,000
SUMITOMO BANK FL.R 15-18 16/01Q SUMITOMO MITSUI BK FL.R 15-18 23/07Q SUMITOMO MITSUI REGS FL.R 13-16 16/09Q SUNCORP-METWAY FL.R 14-17 28/03Q TOKYO MITSUBISHI REGS FL.R 15-18 14/09Q TOKYO-MITSUBISHI REGS FL.R 15-18 05/03Q TORONTO DOMINION BANK FL.R 15-18 23/07Q TORONTO DOMINION BK FL.R 16-19 22/01Q UBS AG STAMFORD FL.R 15-18 26/03Q UNITEDHEALTH GROUP FL.R 15-17 17/01Q VERIZON COMM FL.R 14-17 09/06Q VERIZON COMMUNICATION FL.R 13-16 15/09Q VERIZON COMMUNICATION FL.R 13-18 14/09Q WELLS FARGO BANK N FL.R 16-18 22/01Q WELLS FARGO CO FL.R 16-19 24/05Q WESTPAC BANKING FL.R 15-18 23/11Q
Total investments in securities
Cost
Market value
Unaudited accrued Interest
% of total net assets
6,505,232.50 8,500,000.00 4,500,000.00 5,021,700.00 3,000,000.00 2,992,200.00 2,000,000.00 4,000,000.00 4,497,690.84 2,000,000.00 2,600,000.00 2,521,099.07 4,654,836.29 6,507,755.95 7,000,000.00 7,000,000.00
6,480,565.00 8,473,990.00 4,504,410.00 5,004,577.50 3,006,390.00 2,986,380.00 1,999,580.00 4,019,080.00 4,496,535.00 2,002,301.00 2,601,095.90 2,511,563.10 4,645,469.70 6,530,208.75 7,006,300.00 7,026,565.00
15,986.04 21,475.39 2,334.07 367.67 2,234.13 2,460.20 4,319.70 11,309.10 502.54 4,391.56 1,602.51 2,277.98 4,843.27 17,131.45 7,000.47 10,299.37
0.97 1.27 0.68 0.75 0.45 0.45 0.30 0.60 0.68 0.30 0.39 0.38 0.70 0.98 1.05 1.06
631,958,262.71
630,205,977.05
94.71
33,960,765.78
5.10
1,231,740.95
0.19
665,398,483.78
100.00
Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 50
UBAM - DYNAMIC US DOLLAR BOND
Geographical classification of investments (by domicile of the issuer) United States of America France United Kingdom Japan South Korea Australia The Netherlands Canada Luxembourg Italy Sweden Cayman Islands Mexico British Virgin Islands Spain Norway
% of net assets 38.93 9.67 9.19 7.52 7.16 5.06 4.76 4.02 2.22 1.69 1.25 0.87 0.85 0.70 0.67 0.15 94.71
Industrial classification of investments % of net assets 56.36 19.55 4.66 3.54 2.02 1.66 1.36 1.29 1.24 0.90 0.73 0.45 0.42 0.30 0.18 0.05
Banks and credit institutions Holding and finance companies Communications Retail trade, department stores Utilities Office supplies and computing Pharmaceuticals and cosmetics Real estate companies Petroleum Road vehicles Insurance Building materials and trade Foods and non alcoholic drinks Healthcare and social services Tobacco and alcoholic drinks Electrical engineering and electronics
94.71
Page 51
UBAM - DYNAMIC US DOLLAR BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
6,786,829.03
Interest on bonds and other debt securities, net Interest on bank accounts Bank interest on time deposits Interest received on swap contracts
Note 2
Note 2
Expenses
6,163,458.40 16,379.51 23.77 606,967.35 1,827,621.00
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
809,065.50 336,989.16 114,291.14 339,012.31 6,709.90 8,959.08 9,806.03 8,341.05 118,089.76 154.81 34,817.32 41,384.94 4,959,208.03
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-1,997,478.76 93,839.46 4,805,249.84 -373,277.62 -243,693.32 313,980.91 7,557,828.54
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
2,606,335.32 -3,453,822.53 -909,421.88 -528,408.98 5,272,510.47
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-164,825.65 154,593,706.46 4,354,813.30 -190,238,043.08 -2,140,412.11
Total changes in net assets
-28,322,250.61
Total net assets at the beginning of the period
693,720,734.39
Total net assets at the end of the period
665,398,483.78
The accompanying notes are an integral part of these financial statements.
Page 52
UBAM - EMERGING MARKET BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
75,629,359.70
Securities portfolio at market value Options contracts at market value Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Receivable on swap contracts Other receivables
Note 2 Note 2, 11
64,634,477.00 52,351.10 9,175,547.46 419,629.17 7,027.78 872,158.51 23,113.20 422,055.48 23,000.00
Note 2
Liabilities
973,230.56
Unrealised loss on forward foreign exchange contracts Unrealised loss on futures contracts Unrealised loss on swap contracts Interest payable on bank liabilities and expenses payable
Note 2, 8 Note 2, 9 Note 2, 10
232,343.96 14,962.59 444,069.39 281,854.62
Net assets at the end of the period
74,656,129.14
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares
AH GBP shares
Capitalisation shares
AS shares
Capitalisation shares
AHS EUR shares
Capitalisation shares
I shares
Capitalisation shares
IH EUR shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
235,373.914
21,750.495
23,726.190
233,398.219
17,135.159
2,293.000
533.000
18,895.159
56,892.219
5,588.908
5,915.259
56,565.868
3,554.104
0.000
405.748
3,148.356
1,159.000
600.000
0.000
1,759.000
550.000
0.000
150.000
400.000
36,483.000
1,000.000
11,225.000
26,258.000
12,364.000
0.000
1,743.000
10,621.000
14,234.000
47,614.572
20,187.236
41,661.336
72,695.000
32,785.000
0.000
105,480.000
The accompanying notes are an integral part of these financial statements.
Page 53
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EMERGING MARKET BOND Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
1.000
0.000
Shares redeemed
Shares outstanding as at 30/06/2016
0.000
1.000
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
AS shares Capitalisation shares Number of shares outstanding Net asset value per share
AHS EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
74,656,129.14
61,501,590.10
199,136,224.31
USD
USD
USD
233,398.219 163.90
235,373.914 152.19
477,810.068 158.53
18,895.159 106.14 4.15
17,135.159 102.52 4.45
21,071.791 111.14 4.82
EUR
EUR
EUR
56,565.868 118.16
56,892.219 110.39
170,801.602 115.70
3,148.356 75.15 2.96
3,554.104 73.04 3.19
8,079.493 79.67 3.46
CHF
CHF
CHF
1,759.000 153.95
1,159.000 144.15
5,071.000 151.94
GBP
GBP
GBP
400.000 98.82
550.000 91.87
5,220.000 95.46
USD
USD
USD
26,258.000 95.69
36,483.000 93.37
389,584.724 98.01
EUR
EUR
EUR
10,621.000 94.01
12,364.000 92.24
255,566.848 97.79
The accompanying notes are an integral part of these financial statements.
Page 54
UBAM - EMERGING MARKET BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
Z shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
74,656,129.14
61,501,590.10
199,136,224.31
USD
USD
USD
41,661.336 179.83
14,234.000 166.21
28,299.000 171.51
EUR
EUR
EUR
105,480.000 130.26
72,695.000 121.13
77,104.000 125.79
USD
USD
USD
1.000 162.43
1.000 150.97
1.000 157.71
USD
USD
USD
-
-
100,000.000 97.90
The accompanying notes are an integral part of these financial statements.
Page 55
UBAM - EMERGING MARKET BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
400,000 400,000 750,000 750,000 400,000 500,000 300,000 300,000 750,000 300,000 750,000 400,000 600,000 600,000 500,000 500,000 400,000 500,000 2,000,000 500,000 250,000 300,000 500,000 250,000 600,000 250,000 300,000 750,000 300,000 600,000 500,000 300,000 750,000 300,000 500,000 1,000,000 750,000 500,000 500,000 2,000,000 500,000 300,000 250,000 300,000 900,000 500,000 300,000 500,000 300,000 250,000 200,000 500,000 500,000 500,000 350,000 500,000 500,000 300,000 500,000 300,000 500,000 500,000
Market value
Unaudited accrued Interest
% of total net assets
61,548,825.39
62,962,577.00
861,285.45
84.34
60,177,216.08
61,572,589.00
850,133.37
82.48
60,177,216.08 392,000.05 383,700.00 770,400.00 768,000.00 390,272.00 517,450.00 301,968.00 300,000.00 780,243.17 312,637.50 729,250.96 352,500.16 553,440.25 589,476.00 516,890.00 487,735.00 396,072.00 589,116.67 2,135,475.61 540,655.34 260,437.50 311,070.00 533,620.00 278,646.25 574,200.00 247,675.00 299,952.00 742,560.00 281,940.00 611,250.00 491,812.50 318,321.02 761,025.25 282,498.26 469,700.71 952,689.33 741,495.00 507,250.83 549,409.04 2,238,316.58 550,871.25 319,170.00 222,897.86 264,270.00 1,045,050.25 499,800.00 300,000.00 487,245.00 302,250.00 258,075.00 203,238.78 508,125.00 510,950.00 518,750.00 358,540.00 552,500.38 529,950.00 269,400.00 536,250.24 291,795.00 529,375.00 499,435.00
61,572,589.00 413,552.00 415,280.00 799,335.00 814,185.00 409,912.00 509,780.00 304,500.00 301,221.00 782,767.50 350,913.00 763,200.00 393,512.00 585,432.00 595,416.00 542,015.00 463,000.00 417,072.00 582,365.00 2,186,900.00 547,175.00 255,422.50 314,130.00 516,930.00 258,337.50 528,000.00 220,125.00 270,000.00 725,805.00 281,250.00 630,390.00 433,860.00 332,619.00 761,760.00 260,223.00 496,885.00 986,250.00 782,400.00 529,855.00 560,325.00 2,280,880.00 570,325.00 312,021.00 310,090.00 230,481.00 1,072,071.00 526,960.00 321,375.00 491,125.00 298,812.00 232,590.00 212,624.00 485,435.00 489,135.00 493,750.00 339,930.50 630,995.00 528,750.00 248,526.00 534,015.00 301,143.00 534,750.00 503,195.00
850,133.37 7,256.94 2,000.00 9,739.58 10,625.00 7,467.78 6,729.17 3,072.92 3,283.75 28,714.58 6,346.67 19,753.13 8,169.44 5,614.58 8,150.00 5,437.50 9,621.53 833.33 13,781.25 34,000.00 12,833.33 5,843.75 3,525.00 14,556.25 4,161.46 1,325.00 775.17 7,343.75 2,515.63 1,048.96 11,066.67 1,593.75 4,468.75 15,406.00 10,968.75 5,619.79 12,274.31 6,989.58 15,305.56 7,092.01 12,138.89 8,057.29 2,895.83 6,118.92 7,975.00 1,546.88 5,812.50 9,975.00 3,666.67 293.75 286.46 5,138.19 12,750.00 4,066.67 2,906.25 2,053.33 218.75 9,631.94 1,067.71 13,189.00 7,175.00 5,078.13 755.21
82.48 0.55 0.56 1.07 1.09 0.55 0.68 0.41 0.40 1.05 0.47 1.02 0.53 0.78 0.80 0.73 0.62 0.56 0.78 2.92 0.73 0.34 0.42 0.69 0.35 0.71 0.29 0.36 0.97 0.38 0.84 0.58 0.45 1.02 0.35 0.67 1.32 1.05 0.71 0.75 3.05 0.76 0.42 0.42 0.31 1.44 0.71 0.43 0.66 0.40 0.31 0.28 0.65 0.66 0.66 0.46 0.85 0.71 0.33 0.72 0.40 0.72 0.67
Cost
US Dollar
ALFA S.A. 6.875 14-44 25/03S ALPEK REGS 4.50 12-22 20/11S ARGENTINA REGS 6.875 16-21 22/04A ARGENTINA (REP OF)REGS 7.50 16-26 22/04S ARMENIA 7.15 15-25 26/03S AZERBAIDJAN (REP) REGS 4.75 14-24 18/03S BANCO NACIONAL REGS 6.25 13-23 01/11S BANK OF CEYLON 5.325 13-18 16/04S BELARUS (REP OF) REG S8.95 11-18 26/01S BOLIVIA REGS 5.95 13-23 22/08S BRASKEM FIN LTD 6.45 14-24 03/02S BRAZIL 4.25 13-25 07/01S CEMEX SAB DE CV 6.125 15-25 05/05S CNDCC REGS 3.00 12-22 17/07S CNOOC CURTIS REGS 4.50 13-23 03/10S CODELCO INC REGS 4.25 12-42 17/07S COLOMBIA 5.00 15-45 15/06S COLOMBIA 6.125 09-41 18/01S CROATIA 6.375 11-21 24/03S CROATIA REGS 6.00 13-24 26/01S DOMINICAN REPUBLIC 5.50 15-25 27/01S DOMINICAN REPUBLIC REGS 5.875 13-24 18/04S DOMINICAN REPUBLIC REGS 6.85 15-45 27/01S ECOPETROL 5.875 13-23 18/09S ECUADOR REG S 7.95 14-24 20/06S EGYPT 5.875 15-25 11/06S EL SALVADOR REGS 5.875 12-25 30/01S ELDORADO INT FIN REGS 8.625 16-21 16/06S ETHIOPIA (FED REP) 6.625 14-24 11/12S EXPORT-IMPORT IND REGS 4.00 13-23 14/01S GABON REGS 6.375 13-24 12/12S GEORGIA 6.875 11-21 12/04S GHANA 8.50 07-17 04/10A GHANA REGS 8.125 14-26 18/01S GOLD FIELDS ORO REG-S 4.875 10-20 07/10S GPN CAPITAL SA 4.375 12-22 19/09S GRUPO INVERSION REGS 5.50 16-26 29/04S HALYK BANK REG S 7.25 11-21 28/01S HUNGARY 5.375 14-24 25/03S HUNGARY 5.75 13-23 22/11S HUNGARY 6.375 11-21 29/03S ICE REG S 6.95 11-21 10/11S INDONESIA 6.625 07-37 17/02S IRAQ 5.80 06-28 15/01S ISRAEL ELECTRIC REGS 6.875 13-23 21/06S JAMAICA (GOVT OF) 6.75 15-28 28/04S JAMAICA (GOVT OF) 7.875 15-45 28/07S KAZMUNAIGAZ REGS 4.40 13-23 30/04S KENYA 5.875 14-19 24/06S KENYA REGS 6.875 14-24 24/06S KINGDOM OF JORDAN 6.125 15-26 29/01S LEBANESE REPUBLIC 6.00 12-23 27/01S LEBANESE REPUBLIC 6.10 10-22 04/10S LEBANESE REPUBLIC 6.75 12-27 29/11S LEBANESE REPUBLIC 61 6.60 11-26 27/11S MAJAPAHIT HOLD.REGS 7.875 07-37 29/06S METRO REGS 4.75 14-24 04/02S MONGOLIA EMTN REGS 2 5.125 12-22 05/12S NATIONAL SAVINGS REGS 8.875 13-18 18/09S NIGERIA REGS 5.125 13-18 12/07S OCP SA 5.625 14-24 25/04S OMAN GO9V INTL REGS 3.625 16-21 15/06S
The accompanying notes are an integral part of these financial statements.
Page 56
UBAM - EMERGING MARKET BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
750,000 250,000 500,000 200,000 300,000 300,000 500,000 500,000 500,000 500,000 400,000 250,000 500,000 500,000 300,000 600,000 250,000 500,000 500,000 500,000 250,000 250,000 800,000 500,000 500,000 250,000 1,300,000 500,000 250,000 750,000 1,200,000 600,000 200,000 800,000 500,000 500,000 250,000 500,000 300,000 500,000 500,000 200,000 500,000 500,000 600,000 500,000 900,000 500,000 1,000,000 300,000 600,000 400,000
PAKISTAN 7.25 14-19 15/04S PAKISTAN 8.255 14-24 15/04S PANAMA (REP.) 4.30 13-53 29/04S PANAMA (REP.) 8.875 97-27 30/09S PANAMA (REP.) 4.00 14-24 22/09S PARAGUAY 4.625 13-23 25/01S PEMEX 4.50 16-26 23/01S PEMEX 4.875 12-22 24/01S PEMEX PROJECT 6.50 11-41 02/06S PEMEX REGS 32 5.50 16-19 04/02S PEROU (REP OF) 4.125 15-27 25/08S PERTAMINA REGS 4.875 12-22 03/05S PERTAMINA REGS 6.45 14-44 30/05S PERU 5.625 10-50 18/11S PERU 8.75 03-33 21/11S PERUSAHAAN PERSEROAN 5.50 11-21 22/11S PETR TRIN&TOBAC.REG S 9.75 09-19 14/08S PETROLEOS MEXICANOS 4.875 13-24 18/01S PETRONAS CAPITAL LTD 3.50 15-25 18/03S PHILIPPINES 5.00 12-37 13/01S PHILIPPINES 5.50 11-26 30/03S PHILIPPINES 6.375 09-34 23/10S PKO FINANCE AB 4.63 12-22 26/09S POLAND 4.00 14-24 22/01S PT PELABUHAN INDO II 4.25 15-25 05/05S PWR SECTOR REG S 7.39 09-24 02/12S REBUBLIC NAMIBIA 5.50 11-21 03/11S REPUBLIC OF PANAMA 3.75 15-25 16/03S ROMANIA 6.75 12-22 07/02S ROMANIA REGS 4.875 14-24 22/01S RUSSIA REG -S5.00 10-20 29/04S SAN MIGUEL 4.875 13-23 26/04S SENEGAL (REP OF) 8.75 11-21 13/06S SERBIA REGS 7.25 11-21 28/09S SINOPEC GR OVER REGS 4.375 14-24 10/04S SINOPEC GR OVER REGS 4.875 12-42 17-05S SOUTH AFRICA 5.875 13-25 16/09S SRI LANKA 5.875 12-22 25/07S SRI LANKA REGS 6.00 14-19 14/01S SRI LANKA REGS 6.25 11-21 27/07S STATE BANK OF INDIA 4.875 14-24 17/04S TURKEY 11.875 00-30 15/01S TURKEY 6.25 12-22 26/09S TURKEY 6.625 14-45 17/02S URUGUAY 4.375 15-27 27/10S URUGUAY 4.50 13-24 14/08S URUGUAY 5.10 14-50 18/06S UTD MEXICAN STS TR20 6.05 07-40 11/01S VEB FINANCE REG S 6.902 10-20 09/07S VIETNAM REGS 4.80 14-24 19/11S YPF SOCIEDAD ANONI 8.50 16-21 23/03S ZAMBIA 8.50 14-24 14/04S
Floating rate bonds US Dollar
600,000 BANCO INTL PERU REGS FL.R 14-29 19/03S 800,000 IVORY COAST REGS FL.R 10-32 31/12S
Other transferable securities Bonds 800,000 450,000 638,000 362,000 400,000
US Dollar
GUATEMALA REGS 4.50 16-26 03/05S PERUSAHAAN PEN 3.40 16-21 29/03S SINO FOREST GTD ESCROW 6.25 10-17 21/10S (DEFAULTED) SINO FOREST GTD ESCROW 6.25 10-17 21/10S (DEFAULTED) VALE OVERSEAS 5.875 16-21 10/06S
Cost
Market value
Unaudited accrued Interest
% of total net assets
791,250.17 262,987.50 500,000.00 286,998.00 301,950.00 308,250.00 515,900.00 502,875.50 563,480.00 500,000.00 399,064.00 248,535.00 519,250.00 561,250.00 464,320.80 608,975.25 294,975.00 537,450.00 495,625.00 500,000.00 305,030.28 314,900.96 832,721.05 515,421.67 494,980.00 322,362.50 1,368,250.89 494,285.00 296,375.00 784,580.62 1,248,000.33 574,320.00 215,378.22 891,476.75 498,835.00 518,910.66 280,416.66 508,031.82 289,500.00 514,250.00 499,725.00 297,654.25 519,680.00 588,905.02 603,200.55 531,443.75 875,633.33 601,148.75 1,054,120.11 311,912.50 628,440.67 415,097.78
790,312.50 264,637.50 510,835.00 293,000.00 320,625.00 313,050.00 481,850.00 511,375.00 507,055.00 526,970.00 442,000.00 263,395.00 532,315.00 624,015.00 473,034.00 653,700.00 273,750.00 506,495.00 526,165.00 646,730.00 317,410.00 363,930.00 837,904.00 541,600.00 500,720.00 339,420.00 1,377,935.00 528,015.00 296,562.50 830,250.00 1,296,504.00 600,468.00 218,500.00 917,992.00 540,372.00 572,030.00 278,532.50 485,190.00 306,654.00 503,900.00 557,410.00 350,110.00 566,750.00 609,625.00 636,150.00 543,750.00 897,750.00 631,515.00 1,088,780.00 309,177.00 640,500.00 354,796.00
11,479.00 4,296.88 3,643.06 4,486.81 3,266.67 5,973.96 9,812.50 10,562.50 2,527.78 11,152.78 5,729.17 1,929.69 2,687.50 3,281.25 2,843.75 3,483.33 9,208.33 10,968.75 4,958.33 11,597.22 3,437.50 2,966.15 9,671.56 8,777.78 3,246.53 1,436.94 11,320.83 5,416.67 6,703.13 16,046.88 10,166.67 5,200.00 2,284.72 14,822.22 4,861.11 2,911.46 4,243.06 12,647.57 8,300.00 13,281.25 4,942.71 10,885.42 8,159.72 12,237.85 4,593.75 8,500.00 1,530.00 14,200.69 32,784.50 1,640.00 13,741.67 7,177.78
1.06 0.35 0.68 0.39 0.43 0.42 0.65 0.68 0.68 0.71 0.59 0.35 0.71 0.84 0.63 0.88 0.37 0.68 0.70 0.87 0.43 0.49 1.12 0.73 0.67 0.45 1.84 0.71 0.40 1.11 1.74 0.80 0.29 1.23 0.72 0.77 0.37 0.65 0.41 0.67 0.75 0.47 0.76 0.82 0.85 0.73 1.20 0.85 1.46 0.41 0.86 0.48
1,371,609.31
1,389,988.00
11,152.08
1.86
1,371,609.31 617,700.42 753,908.89
1,389,988.00 640,596.00 749,392.00
11,152.08 11,152.08 0.00
1.86 0.86 1.00
1,643,648.02
1,671,900.00
10,873.06
2.24
1,643,648.02
1,671,900.00
10,873.06
2.24
1,643,648.02 793,648.00 450,000.00 0.01 0.01 400,000.00
1,671,900.00 815,000.00 454,932.00 0.00 0.00 401,968.00
10,873.06 5,700.00 3,867.50 0.00 0.00 1,305.56
2.24 1.09 0.61 0.00 0.00 0.54
The accompanying notes are an integral part of these financial statements.
Page 57
UBAM - EMERGING MARKET BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Market value
Unaudited accrued Interest
% of total net assets
55,062.00
52,351.10
0.00
0.07
55,062.00
52,351.10
0.00
0.07
55,062.00 28,952.00 26,110.00
52,351.10 34,933.81 17,417.29
0.00 0.00 0.00
0.07 0.05 0.02
63,247,535.41
64,686,828.10
86.65
9,175,547.46
12.29
793,753.58
1.06
74,656,129.14
100.00
Cost
Derivative instruments Options US Dollar
1,400,000 USD(C)/HUF(P)OTC JUL 278.0 25.07.16 CALL 1,400,000 USD(C)/PLN(P)OTC JUL 3.950 19.07.16 CALL
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 58
UBAM - EMERGING MARKET BOND
Geographical classification of investments (by domicile of the issuer) Mexico Hungary Croatia Indonesia Philippines Argentina Peru Sri Lanka Uruguay Luxembourg Lebanese Republic Panama British Virgin Islands Chile Turkey Namibia Russia Colombia Cayman Islands Romania Ireland Dominican Republic Israel Pakistan Ghana Serbia Jamaica Sweden Guatemala Other
% of net assets 6.14 4.56 3.65 3.64 3.04 3.02 2.92 2.85 2.78 2.43 2.43 2.21 2.16 2.13 2.05 1.84 1.74 1.69 1.56 1.51 1.46 1.45 1.44 1.41 1.37 1.23 1.14 1.12 1.09 20.59 86.65
Page 59
UBAM - EMERGING MARKET BOND
Industrial classification of investments % of net assets 52.88 13.08 6.70 4.69 1.86 1.42 1.38 1.33 1.28 0.80 0.78 0.38 0.07
Countries and central government Holding and finance companies Petroleum Banks and credit institutions Electrical engineering and electronics Coal mining and steel industry Transportation Utilities Chemicals Tobacco and alcoholic drinks Building materials and trade Healthcare and social services Miscellaneous sectors
86.65
Page 60
UBAM - EMERGING MARKET BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
1,882,222.61
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
1,866,846.68 2,497.70 12,861.11 17.12 666,947.42
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
445,610.24 89,582.95 14,045.04 35,470.42 3,406.84 359.79 3,010.42 6,432.05 41,368.07 1,246.04 22,475.00 3,940.56 1,215,275.19
Net realised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-1,209,082.13 -41,790.00 205,215.75 -578,865.94 341,782.74 -17,199.83 -84,664.22
Net variation of the unrealised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2 Note 2
Result of operations
5,965,972.85 -2,710.90 -47,012.32 3,388.96 -444,069.39 5,390,904.98
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-86,629.52 16,935,742.22 242,070.60 -9,240,466.98 -87,082.26
Total changes in net assets
13,154,539.04
Total net assets at the beginning of the period
61,501,590.10
Total net assets at the end of the period
74,656,129.14
The accompanying notes are an integral part of these financial statements.
Page 61
UBAM - EMERGING MARKET CORPORATE BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
183,786,413.47
Securities portfolio at market value Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Receivable on swap contracts
Note 2
172,630,417.16 7,921,108.09 625,173.07 5,805.56 2,153,723.23 101,531.84 348,654.52
Note 2
Liabilities
2,283,943.37
Bank liabilities Payable on purchases of securities Unrealised loss on forward foreign exchange contracts Unrealised loss on futures contracts Unrealised loss on swap contracts Interest payable on bank liabilities and expenses payable
112,182.62 550,337.50 313,575.85 333,498.46 366,839.91 607,509.03
Note 2, 8 Note 2, 9 Note 2, 10
Net assets at the end of the period
181,502,470.10
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares
AS shares
Capitalisation shares
AHS EUR shares
Capitalisation shares
AHS CHF shares
Capitalisation shares
AP shares
Capitalisation shares
APH EUR shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
711,170.148
28,938.426
304,971.707
435,136.867
58,334.289
3,930.000
13,780.000
48,484.289
46,845.000
7,768.000
9,167.000
45,446.000
5,107.000
0.000
770.000
4,337.000
5,240.000
3,960.000
2,000.000
7,200.000
30,255.000
3,750.000
440.000
33,565.000
12,079.000
3,660.000
0.000
15,739.000
22,910.000
0.000
0.000
22,910.000
6,400.000
2,485.000
100.000
8,785.000
10,350.000
0.000
0.000
10,350.000
The accompanying notes are an integral part of these financial statements.
Page 62
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EMERGING MARKET CORPORATE BOND Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
APH CHF shares
Capitalisation shares
I shares
Capitalisation shares Distribution shares
IH EUR shares
Capitalisation shares
IH GBP shares
Capitalisation shares
IHS EUR shares
Capitalisation shares
IP shares
Capitalisation shares
IPH EUR shares
Capitalisation shares
R shares
Capitalisation shares
Z shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
34,000.000
0.000
5,600.000
28,400.000
89,557.561
103,281.596
40,234.351
152,604.806
0.000
36,600.000
0.000
36,600.000
643,078.549
215,501.356
414,990.333
443,589.572
0.000
270.000
0.000
270.000
14,400.000
0.000
0.000
14,400.000
4,816.000
0.000
3,416.000
1,400.000
438.000
0.000
0.000
438.000
1.000
0.000
0.000
1.000
26,925.915
0.000
0.000
26,925.915
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
181,502,470.10
219,774,456.33
267,470,691.40
USD
USD
USD
435,136.867 131.53
711,170.148 123.14
868,953.200 124.87
48,484.289 104.40 3.57
58,334.289 101.16 4.27
58,432.289 106.72 4.46
The accompanying notes are an integral part of these financial statements.
Page 63
UBAM - EMERGING MARKET CORPORATE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AS shares Capitalisation shares Number of shares outstanding Net asset value per share
AHS EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AHS CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AP shares Capitalisation shares Number of shares outstanding Net asset value per share
APH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
APH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
181,502,470.10
219,774,456.33
267,470,691.40
EUR
EUR
EUR
45,446.000 129.25
46,845.000 121.81
60,916.169 124.04
4,337.000 110.41 3.80
5,107.000 107.70 4.56
5,777.000 114.11 4.77
CHF
CHF
CHF
7,200.000 138.53
5,240.000 130.84
4,430.000 134.17
USD
USD
USD
33,565.000 122.50
30,255.000 119.34
55,740.000 122.03
EUR
EUR
EUR
15,739.000 99.93
12,079.000 97.97
14,064.000 100.97
CHF
CHF
CHF
22,910.000 93.85
22,910.000 92.37
21,410.000 95.65
USD
USD
USD
8,785.000 132.91
6,400.000 124.72
7,537.000 125.62
EUR
EUR
EUR
10,350.000 130.78
10,350.000 123.20
2,375.000 124.86
CHF
CHF
CHF
28,400.000 127.40
34,000.000 120.10
31,400.000 122.34
The accompanying notes are an integral part of these financial statements.
Page 64
UBAM - EMERGING MARKET CORPORATE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
IHS EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share
IPH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
RH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
181,502,470.10
219,774,456.33
267,470,691.40
USD
USD
USD
152,604.806 138.65
89,557.561 129.23
73,255.000 129.81
36,600.000 101.97 -
-
45,000.000 119.45 4.94
EUR
EUR
EUR
443,589.572 135.94
643,078.549 127.51
684,721.797 128.65
CHF
CHF
CHF
-
-
415.351 138.62
GBP
GBP
GBP
270.000 101.88
-
-
EUR
EUR
EUR
14,400.000 103.15
14,400.000 100.46
10,000.000 102.33
USD
USD
USD
1,400.000 136.63
4,816.000 128.08
4,150.000 128.33
EUR
EUR
EUR
438.000 134.28
438.000 126.36
590.000 127.45
USD
USD
USD
1.000 129.13
1.000 121.19
784.399 123.48
EUR
EUR
EUR
-
-
10.000 106.49
The accompanying notes are an integral part of these financial statements.
Page 65
UBAM - EMERGING MARKET CORPORATE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets Z shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
181,502,470.10
219,774,456.33
267,470,691.40
USD
USD
USD
26,925.915 105.78
26,925.915 98.21
30,000.000 97.91
The accompanying notes are an integral part of these financial statements.
Page 66
UBAM - EMERGING MARKET CORPORATE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
300,000 1,000,000 600,000 1,000,000 750,000 500,000 200,000 500,000 1,500,000 500,000 500,000 300,000 600,000 500,000 500,000 500,000 500,000 500,000 800,000 600,000 500,000 500,000 250,000 300,000 600,000 600,000 300,000 750,000 400,000 750,000 500,000 1,000,000 250,000 700,000 750,000 250,000 250,000 1,000,000 800,000 500,000 500,000 1,000,000 1,000,000 200,000 250,000 200,000 1,000,000 1,000,000 500,000 500,000 2,000,000 750,000 500,000 200,000 200,000 700,000 300,000 1,500,000 1,500,000 750,000 500,000 1,100,000
Market value
Unaudited accrued Interest
% of total net assets
166,614,920.23
169,930,191.16
2,139,636.42
93.62
151,931,644.98
155,155,236.16
1,969,865.91
85.48
151,931,644.98 311,400.00 996,000.00 795,750.00 983,685.00 789,886.36 527,125.00 218,000.00 495,175.05 1,610,124.33 525,000.00 516,300.00 331,185.00 718,114.00 479,750.00 483,166.66 499,900.00 489,375.00 548,333.34 784,931.20 586,503.75 535,342.50 497,940.00 275,775.00 315,000.00 583,887.00 655,810.00 337,920.00 779,062.50 406,240.00 730,312.50 504,332.50 989,000.00 280,950.00 690,830.86 738,165.00 242,423.42 250,000.00 1,120,333.33 791,920.00 503,725.00 528,850.00 997,100.00 1,050,680.00 199,572.00 273,080.00 200,400.00 992,350.00 1,027,660.00 499,250.00 500,416.66 2,158,587.63 794,814.37 515,625.00 199,500.00 188,570.00 774,200.57 313,240.00 1,495,920.00 1,531,980.00 859,477.50 502,437.50 1,201,979.16
155,155,236.16 284,775.00 1,036,410.00 771,390.00 1,009,470.00 855,757.50 534,210.00 206,776.00 506,875.00 1,715,775.00 497,500.00 493,125.00 331,191.00 735,840.00 508,750.00 495,440.00 526,250.00 502,500.00 546,515.00 819,560.00 649,944.00 550,550.00 533,100.00 282,267.50 336,375.00 593,646.00 670,560.00 328,200.00 816,757.50 405,436.00 798,292.50 539,595.00 1,080,131.25 235,937.50 703,703.00 751,402.50 243,145.00 255,237.50 1,101,230.00 761,896.00 514,050.00 539,350.00 1,017,964.25 1,111,140.00 209,514.00 282,665.00 242,084.00 1,046,120.00 1,067,020.00 521,065.00 473,545.00 2,099,900.00 738,750.00 470,300.00 215,750.00 205,688.00 784,000.00 310,653.00 1,288,125.00 1,252,500.00 853,590.00 510,570.00 1,211,584.00
1,969,865.91 7,437.50 16,916.67 6,825.00 12,812.50 10,010.42 6,927.08 3,628.47 1,111.11 18,406.25 14,895.83 8,189.24 3,750.00 9,187.50 10,605.90 6,041.67 7,722.22 1,375.00 2,231.25 12,413.89 6,006.25 10,714.58 3,263.89 6,975.69 6,979.17 4,179.17 10,125.00 5,958.33 12,916.67 7,823.61 7,880.21 4,175.35 15,517.36 7,817.71 8,385.42 3,760.42 1,042.36 677.08 20,312.50 21,406.67 10,833.33 12,222.22 7,909.72 7,187.50 3,101.39 286.46 6,157.78 6,111.11 7,083.33 10,625.00 6,942.71 36,875.00 20,625.00 9,843.75 4,625.00 855.56 10,869.44 8,371.88 18,750.00 30,937.50 1,718.75 1,895.83 37,256.39
85.48 0.16 0.57 0.43 0.56 0.47 0.29 0.11 0.28 0.95 0.27 0.27 0.18 0.41 0.28 0.27 0.29 0.28 0.30 0.45 0.36 0.30 0.29 0.16 0.19 0.33 0.37 0.18 0.45 0.22 0.44 0.30 0.60 0.13 0.39 0.41 0.13 0.14 0.61 0.42 0.28 0.30 0.56 0.61 0.12 0.16 0.13 0.58 0.59 0.29 0.26 1.16 0.41 0.26 0.12 0.11 0.43 0.17 0.71 0.69 0.47 0.28 0.67
Cost
US Dollar
ABJA INVESTMENT 5.95 14-24 31/07S ABU DHABI NAT ENERGY 3.625 12-23 12/01S ABU DHABI NAT ENERGY 6.50 06-36 27/10S AKBANK REGS 5.125 15-25 31/03S ALFA BOND 7.75 11-21 28/04S ALFA REGS 5.25 14-24 25/03S ALFA S.A. 6.875 14-44 25/03S ALIBA GROUP 2.50 15-19 28/11S ALROA FINANCE REG S 7.75 10-20 03/11S ALTICE FINANCE REGS 6.50 13-22 15/01S ALTICE FINANCING REGS 6.625 15-23 15/02S AMERICA MOVIL 5.00 10-20 30/03S AMERICA MOVIL 6.125 10-40 30/03S ANGLO ASHANTI HLDG 5.125 12-22 01/08S ARCELIK AS REGS 5.00 13-23 03/04S BANCO CREDITO REGS 4.00 13-23 11/02S BANCO INBURSA 4.125 14-24 06/06S BANCOLOMBIA 5.95 11-21 03/06S BANCOLOMBIA SUB 5.125 12-22 11/09S BANGKOK BK HK REGS 3.875 12-22 27/09S BANK CHINA HK 5.55 10-20 11/02S BANK OF CHINA 5.00 14-24 13/11S BANK OF EAST ASIA SUB 6.125 10-20 16/07S BANK OF INDIA 6.25 11-21 16/02S BATELCO INT 4.25 13-20 01/05S BBVA BANCOMER REGS 6.75 12-22 30/09S BBVA BANCOMER SA TEXA 6.50 11-21 10/03S BBVA REGS 5.00 12-22 26/08S BCO BOGOTA REGS SUB 5.375 13-23 19/02S BCO CREDITO DEL PERU 4.25 13-23 01/04S BHARAT PETROLEUM 4.625 12-22 25/10S BHARTI AIRTEL REGS 5.125 13-23 11/03S BRASKEM AMERICA REGS 7.125 11-41 22/07S BRASKEM SA REGS 5.75 11-21 15/04S BRF REGS 4.75 14-24 22/05S BRF SA REGS 3.95 13-23 22/05S CABLEVISION 6.50 16-21 15/06S CEMEX FIN EUROP REGS 9.375 12-22 12/10S CEMEX REGS 5.70 14-25 11/01S CENCOSUD REGS 4.875 12-23 20/01S CENCOSUD SA 5.50 11-21 20/01S CHINA CINDA FIN REGS 4.25 15-25 23/04S CHINA CINDA FINANCE 5.625 14-24 14/05S CHINA RAILWAY RES 3.85 13-23 05/02S CITI BANK INTL 6.875 10-20 24/06S CITI PACIFIC REGS 4 6.80 12-23 17/01S CN CLEAN ENERGY 4.00 15-25 05/11S CNOOC FIN 2014 4.25 14-24 30/04S COLBUN REGS 4.50 14-24 10/07S COLOMBIA REGS 5.375 12-22 27/09S COLUMBUS INTL INC 7.375 14-21 30/03S COMCEL TRUST REGS 6.875 14-24 06/02S CORPGROUP BANKING SA 6.75 13-23 15/03S COUNTRY GARDEN 7.50 15-20 09/03S CRCC YUXIANG LTD 3.50 13-23 16/05S CREDITO DEL PERU REG-S5.375 10-20 16/09S DAVIVIENDA SUB REGS 5.875 12-22 09/07S DIGICEL REGS 6.00 13-21 15/04S DIGICEL REGS 8.25 12-20 30/09S DOLPHIN ENERGY REGS 5.50 12-21 15/12S DP WORLD LTD 3.25 15-20 18/05S DP WORLD REG S 6.85 07-37 02/07S
The accompanying notes are an integral part of these financial statements.
Page 67
UBAM - EMERGING MARKET CORPORATE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
1,500,000 1,100,000 1,000,000 300,000 500,000 500,000 250,000 900,000 885,000 200,000 700,000 1,000,000 250,000 800,000 500,000 500,000 500,000 500,000 1,000,000 1,500,000 1,500,000 300,000 800,000 1,000,000 1,500,000 500,000 500,000 750,000 600,000 600,000 400,000 1,500,000 1,500,000 300,000 400,000 400,000 500,000 1,000,000 1,400,000 1,500,000 1,000,000 600,000 1,000,000 1,000,000 300,000 1,000,000 500,000 1,000,000 400,000 1,000,000 1,500,000 1,000,000 500,000 750,000 500,000 1,500,000 300,000 750,000 1,000,000 1,500,000 750,000 700,000 500,000 100,000 1,000,000 800,000 1,200,000
ECOPETROL 5.875 14-45 28/05S ECOPETROL SA 5.375 15-26 26/06S ELDORADO INT FIN REGS 8.625 16-21 16/06S EMPRESA ELEC GUACOLD 4.56 15-25 30/04S ENN ENERGY HOLDINGS 6.00 11-21 13/05S EUROCHEM MIN REGS 5.125 12-17 12/12S FIBRIA 5.25 14-24 12/05S FILINVEST DEVL REGS 4.25 13-20 02/04S FLEXTRONICS INTL L 4.625 13-20 15/02S FOMENTO ECONOMICO 4.375 13-43 10/05S FORMOSSA GROUP 3.375 15-25 22/04S FRANSHION BRILLIANT 5.75 14-19 19/03S FRANSHION DEVLT 6.75 11-21 15/04S FRESNILLO REG S 5.50 13-23 13/11S GAZ CAPITAL 6.51 07-22 07/03S GAZ CAPITAL REG S 9.25 09-19 23/04S GERDAU TRADE REGS 5.75 10-21 30/01S GLOBAL LOGISTIC PROP 3.875 15-25 04/06 GOLD FIELDS ORO REG-S 4.875 10-20 07/10S GPN CAPITAL REGS 6.00 13-23 27/11S GPN CAPITAL SA 4.375 12-22 19/09S GRUOP TELEVISA 5.00 14-45 13/05S GRUPO AVAL LTD 4.75 12-22 26/09S GTL TRADE REGS 5.893 14-24 29/04S HALYK BANK REG S 7.25 11-21 28/01S HLP FINANCE 4.75 12-22 25/16S HUTCHISON WHAMPOA 3.625 14-24 31/10S ICICI BANK REGS 5.75 10-20 16/11S INDIAN OIL 5.625 11-21 02/08S INDIAN OIL REGS 5.75 13-23 01/08S INDUSTRIAL SR TR REGS 5.50 12-22 01/11S INTERBANK PEROU REG S 5.75 10-20 07/10S INTL BK AZERBAIJAN 5.625 14-19 11/06S INVERSIONES CMPC 4.375 13-23 15/05S INVERSIONES CMPC 4.75 14-24 15/09S IOI INVESTMENT 4.375 12-22 27/06S ISBANK 6.00 12-22 24/10S ISRAEL CHEMICAL REGS 4.50 14-24 02/12S ISRAEL ELECTRIC CORP 5.00 14-24 12/11S ISRAEL ELECTRIC REG S 7.25 08-19 15/01S ISRAEL ELECTRIC REGS 6.875 13-23 21/06S ITAU CORP REGS 3.875 14-19 22/09S JGSH PHILIPPINES 4.375 13-23 23/01S KAZAK.TEMIR.ZHOL 6.375 10-20 06/10S KLABIN FIN REGS 5.25 14-24 16/07S KOR HYDRO NUCL REG S 3.00 12-22 19/09S KUNLUN ENERGY 3.75 15-25 13/05S KUWAIT PROJECTS CO 5.00 16-23 15/03S LATAM AIR GRP REGS 7.25 15-20 09/06S LENOVO GROUP 4.70 14-19 08/05S LONGFOR PROPERTIES 6.75 13-23 29/01S LUKOIL INTL FIN 7.25 09-19 05/11S MAG GLB SEC REGS 4.75 14-24 07/05S MARFRIG HOLDINGS REGS 6.875 14-19 24/06S MCE FINANCE REGS 5.00 13-21 15/02S METALLOINVEST FIN 5.625 13-20 17/04S MEXICHEM REGS 5.875 14-44 17/09S MILLICOM INT CEL REGS 6.625 13-21 15/10S MINERVA LUXE REGS 7.75 13-23 31/01S MMC NORILSK 6.625 15-22 14/10S MTN MAURITIUS INV REGS4.755 14-24 11/11S MYRIAD INTL HOLDIN 5.50 15-25 21/07S NATIONAL SAVINGS REGS 8.875 13-18 18/09S NEXEN INC 5.875 05-35 10/03S NTPC LTD 4.375 14-24 26/11S OCBC SUB REGS 4.25 14-24 19/06S OCP REGS 4.50 15-25 22/10S
Cost
Market value
Unaudited accrued Interest
% of total net assets
1,405,020.00 1,069,640.00 990,080.00 300,133.66 532,945.00 498,700.00 246,875.50 900,000.00 911,550.00 193,890.00 672,756.00 1,039,500.00 270,875.00 825,883.48 518,962.50 555,345.00 476,250.28 492,210.00 898,500.63 1,464,530.87 1,371,748.53 296,025.00 789,821.67 1,024,500.00 1,574,188.05 497,970.00 514,485.00 814,020.00 595,302.00 610,512.00 402,701.82 1,645,638.08 1,480,625.88 303,000.00 421,700.00 384,632.00 499,662.87 1,008,000.00 1,431,785.25 1,702,000.56 1,093,000.00 625,200.42 970,750.00 1,071,466.67 297,600.00 993,403.78 495,065.00 1,040,000.78 400,000.00 1,038,620.00 1,509,000.00 1,064,900.00 505,720.00 751,417.17 501,666.66 1,491,758.58 297,450.00 802,431.00 1,051,000.00 1,510,725.00 754,600.00 701,582.00 537,025.50 108,840.00 1,054,900.00 817,952.00 1,157,550.00
1,298,910.00 1,071,554.00 967,740.00 279,363.00 568,665.00 516,165.00 256,652.50 924,156.00 927,455.66 211,033.00 712,950.00 1,078,570.00 287,027.50 863,368.00 555,785.00 578,730.00 481,250.00 512,260.00 993,770.00 1,605,000.00 1,479,375.00 287,274.00 783,064.00 882,500.00 1,589,565.00 542,905.00 531,700.00 841,095.00 672,000.00 679,128.00 394,548.00 1,665,690.00 1,474,845.00 307,125.00 418,824.00 415,676.00 510,060.00 1,027,000.00 1,514,142.00 1,667,280.00 1,191,190.00 626,412.00 1,038,220.00 1,048,750.00 297,279.00 1,057,150.00 515,755.00 1,051,250.00 388,748.00 1,055,110.00 1,619,190.00 1,125,880.00 527,380.00 756,000.00 498,245.00 1,571,520.00 274,800.00 773,197.50 1,025,030.00 1,668,990.00 728,752.50 728,875.00 534,015.00 120,064.50 1,063,200.00 848,432.00 1,186,500.00
7,833.33 656.94 3,354.17 2,280.00 3,916.67 1,281.25 1,750.00 9,350.00 15,349.22 1,215.28 4,462.50 16,131.94 3,515.63 5,744.44 10,217.08 8,607.64 11,979.17 1,399.31 11,239.58 8,250.00 18,411.46 1,958.33 9,922.22 9,985.36 45,916.67 329.86 3,020.83 5,270.83 13,875.00 14,279.17 3,605.56 19,885.42 4,453.13 1,640.63 5,541.67 145.83 5,500.00 3,500.00 9,333.33 49,843.75 1,718.75 6,329.17 19,079.86 14,845.89 7,175.00 8,416.67 2,447.92 14,583.33 1,691.67 6,788.89 42,468.75 11,076.39 3,496.53 859.38 9,375.00 17,109.38 5,042.71 10,351.56 32,291.67 20,979.17 4,854.06 17,004.17 13,312.00 1,795.14 4,131.94 1,038.89 10,200.00
0.72 0.59 0.53 0.15 0.31 0.28 0.14 0.51 0.51 0.12 0.39 0.59 0.16 0.48 0.31 0.32 0.27 0.28 0.55 0.88 0.82 0.16 0.43 0.49 0.88 0.30 0.29 0.46 0.37 0.37 0.22 0.92 0.81 0.17 0.23 0.23 0.28 0.57 0.83 0.92 0.66 0.35 0.57 0.58 0.16 0.58 0.28 0.58 0.21 0.58 0.89 0.62 0.29 0.42 0.27 0.87 0.15 0.43 0.56 0.92 0.40 0.40 0.29 0.07 0.59 0.47 0.65
The accompanying notes are an integral part of these financial statements.
Page 68
UBAM - EMERGING MARKET CORPORATE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
1,750,000 750,000 300,000 1,000,000 1,000,000 1,100,000 2,000,000 1,000,000 800,000 1,500,000 1,200,000 500,000 1,000,000 1,000,000 800,000 500,000 500,000 500,000 1,000,000 1,000,000 1,000,000 500,000 500,000 450,000 1,500,000 1,000,000 500,000 1,300,000 400,000 400,000 375,000 600,000 1,250,000 200,000 350,000 200,000 1,500,000 500,000 1,000,000 1,000,000 500,000 900,000 500,000 400,000 500,000 500,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 500,000 750,000 800,000 950,000 600,000 2,000,000 1,000,000 400,000 1,000,000 2,000,000 500,000 1,750,000 1,300,000 1,000,000
OCP SA 5.625 14-24 25/04S ONCG VIDESH REGS 4.625 14-24 15/07S PCCW-HKTC CAPITAL REGS3.75 13-23 08/03S PERTAMINA REGS 4.30 13-23 20/05S PERTAMINA REGS 4.875 12-22 03/05S PERUSAHAAN GAS REG S 5.125 14-24 16/05S PERUSAHAAN PERSEROAN 5.50 11-21 22/11S PETROBRAS GLB FIN 4.375 13-23 20/05S PETROBRAS GLOBAL FIN 8.375 16-21 23/05S PETROBRAS INTL FIN 5.375 11-21 27/01S PKO FINANCE AB 4.63 12-22 26/09S POWER GRID INDIA 3.875 13-23 17/01S PROVEN HONOUR CAP 4.125 15-25 19/05S PROVEN HONOUR CAP 4.125 16-26 06/05S PTT GLB CHEM REGS 4.25 12-22 19/02S PTT PCL REGS 4.50 12-42 25/10S PTT REGS 3.375 12-22 25/10S PTTEP CANADA REGS 5.692 10-15 19/07S QTEL INTL FIN 4.75 10-21 16/02S QTEL INTL REGS 3.25 12-23 21/02S RELIANCE HLDGS REGS 5.40 12-22 14/02S RIZAL COMMERCIAL BANK 3.45 15-21 02/02S SABLE INTL FIN.REGS 6.875 15-22 01/08S SACI FALABELLA REGS 3.75 13-23 30/04S SAN MIGUEL 4.875 13-23 26/04S SASOL FIN INTL 4.50 12-22 14/11S SINGTEL GROUP TREASURY4.50 11-21 08/09S SM INVESTMENTS 4.25 12-19 17/10S SOUTHERN COPPER 5.25 12-42 08/11S SOUTHERN COPPER CORP 5.875 15-45 23/04S STANDARD BANK SUB 8.125 09-19 02/12S STATE BANK OF INDIA 4.875 14-24 17/04S SUAM FINANCE BV REGS 4.875 14-24 17/04S SUN HUNG CAP MKT 3.625 13-23 16/01S SUZANO TRADING REG S 5.875 10-21 23/01S SWIRE PACIFIC REGS 36 4.50 13-23 09/10S TATA MOTORS LTD 4.625 14-20 30/04S TELEFONICA CHILE REGS 3.875 12-22 12/10S TENCENT HLDG REGS TR2 3.375 12-18 05/03S TENEDORA NEMAK REGS 5.50 13-23 28/02S TEVA PHARMA FINANCE 2.95 12-22 18/02S TEVA PHARMAC.FINANCE 6.15 06-36 01/02S TGI INTERNATIONAL 5.70 12-22 20/03S THAI OIL REGS 3.625 13-23 23/01S THAI OIL REGS 4.875 13-43 23/01S TRANSNET REG S EMTN 4.00 12-22 26/07S TURK SISE CAM REGS 4.25 13-20 09/05S TURK TELEKOM REGS 4.875 14-24 19/06S TURK VAK BANK TAO 6.00 12-22 01/11S TURKCELL ILETISIM 5.75 15-25 15/10S TURKIYE IS BANKASI 5.00 14-21 25/06S TURKIYE IS BANKASI 5.375 16-21 06/10S UNACEM 5.875 14-21 30/10S URALKALIY REGS 3.723 13-18 30/04S VALE OVERSEAS 4.375 12-22 11/01S VALE OVERSEAS GTD 6.875 06-36 21/11S VEB FINANCE REG S 6.902 10-20 09/07S VIMPELCON 7.504 11-22 01/03S VOTORANTIM CIMENTOS 7.25 11-41 05/04S VTR FINANCE REGS 6.875 14-24 15/01S WOORI BANK 4.75 14-24 30/04S WYNN MACAU REGS 5.25 13-21 15/10S YPF REGS 8.125 15-25 28/07A YPF SOCIEDAD ANONI 8.50 16-21 23/03S ZHAIKMUNAI INTL REGS 7.125 12-19 13/11S
Cost
Market value
Unaudited accrued Interest
% of total net assets
1,800,692.12 745,905.00 276,343.50 1,006,300.00 1,025,000.00 1,108,347.78 2,120,050.00 926,400.00 792,016.00 1,357,950.00 1,245,635.29 507,750.00 990,060.00 997,160.00 798,308.00 389,450.00 461,095.00 532,145.00 1,098,232.82 971,950.00 1,086,053.16 500,000.00 513,750.00 444,515.62 1,473,975.00 1,006,250.00 554,365.00 1,327,250.00 350,000.00 364,696.00 395,000.00 599,670.00 1,258,815.88 194,712.00 360,850.00 203,504.00 1,513,875.00 484,063.75 1,026,780.75 1,029,663.75 479,030.92 1,021,307.25 517,270.00 377,779.38 414,260.00 471,875.00 992,650.00 991,650.00 1,033,766.67 985,090.00 1,011,180.00 497,700.00 755,100.00 745,226.66 914,220.19 662,524.78 2,095,201.11 1,058,125.00 434,060.00 1,027,500.00 2,018,795.00 480,583.33 1,765,312.50 1,354,400.89 988,500.00
1,871,625.00 805,211.25 320,478.00 1,021,350.00 1,053,580.00 1,163,349.00 2,179,000.00 812,800.00 825,680.00 1,380,870.00 1,256,856.00 519,200.00 1,038,646.50 1,041,760.00 872,872.00 518,930.00 523,210.00 574,125.00 1,102,800.00 1,013,630.00 1,115,220.00 516,925.00 505,312.50 461,124.00 1,501,170.00 1,003,340.00 563,990.00 1,364,337.00 357,820.00 377,120.00 422,831.25 668,892.00 1,303,125.00 212,988.00 363,678.00 224,810.00 1,540,065.00 518,190.00 1,036,960.00 1,037,880.00 508,875.00 1,086,903.00 521,840.00 414,820.00 540,370.00 476,845.00 1,006,890.00 999,170.00 1,013,240.00 1,022,450.00 1,011,250.00 514,062.50 765,720.00 801,952.00 887,727.50 554,814.00 2,177,560.00 1,101,600.00 363,500.00 996,980.00 2,113,260.00 486,250.00 1,855,157.50 1,387,750.00 878,920.00
17,773.44 15,898.44 3,500.00 4,777.78 7,718.75 6,890.28 11,611.11 4,861.11 6,886.11 34,265.63 14,507.33 8,772.57 4,697.92 6,187.50 9,538.89 4,062.50 3,046.88 6,719.72 17,680.56 11,645.83 20,400.00 2,779.17 14,227.43 2,812.50 13,000.00 5,750.00 7,000.00 11,203.47 3,033.33 4,373.61 2,369.79 5,931.25 12,356.77 3,302.78 8,967.53 2,025.00 11,562.50 4,197.92 5,437.50 18,638.89 491.67 22,908.75 7,916.67 6,323.61 10,630.21 8,555.56 6,020.83 1,489.58 9,833.33 11,979.17 694.44 6,270.83 7,343.75 4,964.00 19,511.28 4,468.75 65,569.00 24,805.88 6,847.22 31,510.42 15,833.33 5,468.75 60,034.72 29,773.61 9,302.08
1.03 0.44 0.18 0.56 0.58 0.64 1.20 0.45 0.45 0.76 0.69 0.29 0.57 0.57 0.48 0.29 0.29 0.32 0.61 0.56 0.61 0.28 0.28 0.25 0.83 0.55 0.31 0.75 0.20 0.21 0.23 0.37 0.72 0.12 0.20 0.12 0.85 0.29 0.57 0.57 0.28 0.60 0.29 0.23 0.30 0.26 0.55 0.55 0.56 0.56 0.56 0.28 0.42 0.44 0.49 0.31 1.20 0.61 0.20 0.55 1.16 0.27 1.02 0.76 0.48
The accompanying notes are an integral part of these financial statements.
Page 69
UBAM - EMERGING MARKET CORPORATE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Market value
Unaudited accrued Interest
% of total net assets
14,683,275.25
14,774,955.00
169,770.51
8.14
14,683,275.25 506,430.00 501,240.00 503,575.00 496,235.00 506,850.00 1,030,000.00 1,044,070.00 750,000.00 2,702,000.00 512,000.00 1,030,800.00 1,537,000.00 1,017,400.00 503,087.50 1,028,837.75 1,013,750.00
14,774,955.00 516,815.00 493,335.00 513,010.00 507,085.00 515,615.00 1,032,070.00 1,044,400.00 783,615.00 2,619,050.00 508,660.00 1,043,620.00 1,597,620.00 1,004,830.00 527,470.00 1,034,930.00 1,032,830.00
169,770.51 5,437.50 9,062.50 7,673.61 2,529.51 3,128.47 12,458.33 577.78 4,375.00 30,182.29 6,468.75 8,333.33 45,000.00 1,625.00 12,395.83 10,520.83 10,001.78
8.14 0.28 0.27 0.28 0.28 0.28 0.57 0.58 0.43 1.45 0.28 0.57 0.89 0.55 0.29 0.57 0.57
2,693,640.00
2,700,226.00
14,086.81
1.49
2,693,640.00
2,700,226.00
14,086.81
1.49
2,693,640.00 2,143,640.00 550,000.00
2,700,226.00 2,147,520.00 552,706.00
14,086.81 12,291.67 1,795.14
1.49 1.19 0.30
169,308,560.23
172,630,417.16
95.11
Cash at banks/(bank liabilities)
7,808,925.47
4.30
Other net assets/(liabilities)
1,063,127.47
0.59
181,502,470.10
100.00
Description
Cost
Floating rate bonds 500,000 500,000 500,000 500,000 500,000 1,000,000 1,000,000 750,000 2,500,000 500,000 1,000,000 1,500,000 1,000,000 500,000 1,000,000 1,000,000
US Dollar
BK OF COMMUNICAT SUB FL.R 14-24 03/10S BURGAN TIER SUB FL.R 14-XX 30/03S CHINA CONST ASIA FL.R 14-24 20/08S CHINA CONST BANK FL.R 15-25 13/05S CLP POWER HK FIN FL.R 14-XX 07/11S EMIRATES NBD PJSC FL.R 13-23 28/03S KRUNG THAI BK EMTN FL.R 14-24 26/12S LI & FUNG FL.R 12-XX 25/05S MAJID FUTTAIM HLDG FL.R 13-18 29/10S NBK TIER 1 FNC SUB FL.R 15-XX 09/04S OCBC REGS FL.R 14-24 15/10S PETRON SUB FL.R 13-XX 06/08S PTT EXPLOR. PROD REGS FL.R 14-XX 18/06S SANTANDER CAP REGS SUB FL.R 13-24 30/01S UOB SUB FL.R 14-24 19/09S WOORI BANK REGS FL.R 07-37 025/05S
Other transferable securities Bonds US Dollar
2,000,000 B COMMUNIC REGS 144A 7.375 14-21 15/02S 550,000 VALE OVERSEAS 5.875 16-21 10/06S
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 70
UBAM - EMERGING MARKET CORPORATE BOND
Geographical classification of investments (by domicile of the issuer) Cayman Islands Luxembourg British Virgin Islands The Netherlands Turkey Israel Ireland United Arab Emirates Mexico Bermuda Hong Kong India Chile Colombia Indonesia Singapore Philippines United States of America South Korea Thailand Argentina Morocco Kazakhstan Panama Peru United Kingdom Barbados The Netherlands Antilles China Other
% of net assets 10.42 5.78 5.70 5.34 4.17 4.17 3.90 3.54 3.53 3.28 3.24 3.21 3.07 3.00 2.98 2.87 2.75 2.36 2.31 2.14 1.92 1.68 1.46 1.35 1.31 1.27 1.16 1.00 0.97 5.23 95.11
Page 71
UBAM - EMERGING MARKET CORPORATE BOND
Industrial classification of investments % of net assets 29.01 17.75 12.34 8.05 3.95 3.66 2.55 2.53 2.41 1.76 1.65 1.42 0.95 0.89 0.86 0.83 0.82 0.68 0.60 0.58 0.54 0.43 0.42 0.27 0.16
Holding and finance companies Banks and credit institutions Petroleum Communications Utilities Electrical engineering and electronics Real estate companies Chemicals Transportation Internet and Internet services Building materials and trade Road vehicles Tobacco and alcoholic drinks Non-ferrous metals Miscellaneous services Retail trade, department stores Miscellaneous consumer goods Pharmaceuticals and cosmetics Paper and forest products Office supplies and computing Agriculture and fishery Miscellaneous trading companies Foods and non alcoholic drinks Hotels and restaurants Coal mining and steel industry
95.11
Page 72
UBAM - EMERGING MARKET CORPORATE BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
5,310,944.37
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
5,290,458.32 3,838.12 16,642.14 5.79 1,564,146.37
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Performance fees Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5 Note 4
Note 2 Note 6, 7 Note 2
Net investment income
1,054,460.96 247,721.05 26,884.75 101,660.05 18,025.72 1,901.25 2,522.61 4,711.12 11,836.34 73,940.07 1,525.53 11,312.50 7,644.42 3,746,798.00
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-2,029,383.10 2,202,964.65 -814,131.54 348,654.52 -580,853.61 2,874,048.92
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
12,405,648.38 1,094,050.09 -355,029.72 -366,367.97 15,652,349.70
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-179,843.37 51,608,375.81 4,075,266.80 -107,933,666.27 -1,494,468.90
Total changes in net assets
-38,271,986.23
Total net assets at the beginning of the period
219,774,456.33
Total net assets at the end of the period
181,502,470.10
The accompanying notes are an integral part of these financial statements.
Page 73
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
59,343,528.45
Securities portfolio at market value Cash at banks Interest receivable on swap contracts Interest receivable on bonds and other debt securities Unrealised gain on swap contracts Receivable on treasury transactions
Note 2
57,413,082.50 761,516.34 16,048.92 623,468.09 529,107.50 305.10
Note 2 Note 2, 10 Note 2
Liabilities
1,009,131.70
Bank liabilities Unrealised loss on forward foreign exchange contracts Payable on swap contracts Interest payable on bank liabilities and expenses payable
450,092.11 68,800.92 254,136.47 236,102.20
Note 2, 8
Net assets at the end of the period
58,334,396.75
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares
AH CHF shares
Capitalisation shares
I shares
Capitalisation shares
IH EUR shares
Capitalisation shares Distribution shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
331,136.585
9,797.000
41,157.690
299,775.895
52,159.908
5,016.000
2,855.000
54,320.908
69,097.000
1,800.000
6,065.000
64,832.000
3,458.000
0.000
400.000
3,058.000
13,908.000
0.000
229.000
13,679.000
109,620.909
15,753.590
84,122.526
41,251.973
59,000.000
405.000
0.000
59,405.000
10.000
0.000
0.000
10.000
The accompanying notes are an integral part of these financial statements.
Page 74
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
58,334,396.75
68,031,427.11
105,340,945.10
USD
USD
USD
299,775.895 107.66
331,136.585 104.14
397,776.000 103.20
54,320.908 97.21 4.19
52,159.908 98.16 4.58
52,212.000 101.78 1.57
EUR
EUR
EUR
64,832.000 106.48
69,097.000 103.61
311,814.125 103.06
CHF
CHF
CHF
3,058.000 104.31
3,458.000 101.73
9,358.000 101.96
USD
USD
USD
13,679.000 106.48
13,908.000 102.52
16,479.000 100.64
EUR
EUR
EUR
41,251.973 109.52
109,620.909 106.06
94,938.000 104.52
59,405.000 95.57 4.89
59,000.000 97.37 4.52
45,000.000 100.39 -
USD
USD
USD
10.000 102.51
10.000 99.36
-
The accompanying notes are an integral part of these financial statements.
Page 75
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
500,000 900,000 500,000 700,000 500,000 850,000 850,000 800,000 600,000 900,000 2,500,000 800,000 950,000 900,000 800,000 850,000 750,000 500,000 900,000 700,000 500,000 600,000 750,000 800,000 600,000 500,000 800,000 800,000 700,000 750,000 250,000 1,000,000 500,000 750,000 670,000 500,000 500,000 700,000 700,000 700,000 500,000 600,000 2,000,000 500,000 700,000 650,000 700,000 700,000 500,000 850,000 324,000 500,000 700,000 800,000 843,000 1,000,000 500,000 400,000 700,000 900,000 750,000 2,000,000
Market value
Unaudited accrued Interest
% of total net assets
56,301,015.27
56,554,074.50
618,713.56
96.95
54,657,567.27
54,932,778.50
609,034.56
94.17
54,657,567.27 506,875.00 873,315.00 551,200.00 717,500.00 507,397.06 892,675.00 891,416.05 849,969.14 580,986.67 929,250.00 2,509,042.00 856,000.00 959,150.00 986,250.00 857,120.00 902,548.56 742,560.00 499,250.00 924,210.00 749,700.00 532,250.00 600,000.00 761,025.00 730,800.00 626,382.35 497,355.00 854,791.60 793,222.86 713,790.00 824,775.00 255,350.00 1,113,122.00 500,000.00 800,275.00 679,110.27 539,250.00 490,000.00 714,000.00 692,090.00 741,440.00 461,249.42 652,937.50 2,009,441.00 467,295.00 687,680.00 710,913.48 651,067.37 738,733.33 488,500.00 928,396.31 351,108.67 478,812.50 684,355.00 909,876.00 812,443.43 1,007,500.00 494,404.76 409,000.00 676,282.00 920,016.00 690,000.00 2,007,500.00
54,932,778.50 522,610.00 911,610.00 533,920.00 721,644.00 513,675.00 896,622.50 870,306.50 830,848.00 592,356.00 949,158.00 2,504,200.00 850,896.00 963,452.00 951,507.00 861,904.00 877,506.00 725,805.00 516,165.00 958,770.00 754,999.00 520,005.00 629,772.00 761,760.00 795,016.00 609,372.00 508,865.00 826,560.00 786,584.00 739,060.00 831,960.00 249,010.00 1,014,830.00 485,935.00 779,617.50 701,818.30 546,950.00 500,595.00 733,376.00 721,651.00 744,688.00 488,025.00 640,818.00 2,004,560.00 513,720.00 736,190.00 655,694.00 650,734.00 726,390.00 512,470.00 889,338.00 337,527.00 525,775.00 713,699.00 902,040.00 848,530.08 1,001,520.00 508,735.00 419,876.00 710,640.00 926,838.00 751,830.00 2,003,828.12
609,034.56 6,944.44 7,528.13 10,390.63 9,625.00 10,062.50 29,927.08 9,252.60 30,138.89 3,745.83 5,156.25 8,263.89 2,888.89 9,005.21 16,593.75 5,775.00 18,947.92 2,515.63 1,281.25 9,375.00 11,292.36 2,050.00 7,350.00 15,406.25 8,991.67 1,575.00 4,722.22 9,183.33 2,375.00 10,392.12 33,838.54 244.79 7,222.22 2,114.58 18,678.13 9,212.50 4,338.54 572.92 7,984.38 9,661.46 6,690.83 10,026.04 15,087.50 7,000.00 4,265.63 6,569.79 5,561.11 4,987.50 16,078.13 7,999.28 23,782.29 7,465.50 15,274.31 11,415.83 5,055.56 3,336.88 1,250.00 5,588.54 3,941.67 4,652.08 8,668.75 4,653.75 6,881.87
94.17 0.90 1.56 0.92 1.24 0.88 1.54 1.49 1.42 1.02 1.63 4.28 1.46 1.65 1.63 1.48 1.50 1.24 0.88 1.64 1.29 0.89 1.08 1.31 1.36 1.04 0.87 1.42 1.35 1.27 1.43 0.43 1.74 0.83 1.34 1.20 0.94 0.86 1.26 1.24 1.28 0.84 1.10 3.43 0.88 1.26 1.12 1.12 1.25 0.88 1.52 0.58 0.90 1.22 1.55 1.45 1.72 0.87 0.72 1.22 1.59 1.29 3.43
Cost
US Dollar
AGROMERCANTIL SENIOR 6.25 14-19 10/04S AK FIN KIRALAMA 4.125 13-18 17/04S ALFA BOND ISS REGS 7.875 10-17 25/09S BAHRAIN 5.50 10-20 31/03S BANCO DE COSTA RICA 5.25 13-18 12/08S BANCO REGIONAL REGS 8.125 14-19 24/01S BANK OF CELIO REGS 6.875 12-17 03/05S BANK OF GEOGIA REGS 7.75 12-17 05/07S BCO GNB SUDAMMER REGS 3.875 13-18 02/05S BMCE REGS 6.25 13-18 27/11S CANADA 0.875 12-17 14/02S CEMEX REGS 6.50 13-19 10/12S CHINA OIL GAS REGS 5.25 13-18 25/04S COLUMBUS INTL INC 7.375 14-21 30/03S COUNTRY GARDEN REGS 7.875 14-19 27/05S CREDITO REAL REGS 7.50 14-19 13/03S ELDORADO INT FIN REGS 8.625 16-21 16/06S EUROCHEM MIN REGS 5.125 12-17 12/12S FINANSBANK REGS 6.25 14-19 30/04S FRANSHION BRILLIANT 5.75 14-19 19/03S GABONESE REPUBLIC 8.20 07-17 12/12S GEELY AUTOMOBILE REGS 5.25 14-19 06/10S GHANA 8.50 07-17 04/10A GOLD FIELDS ORO REG-S 4.875 10-20 07/10S GRUPO IDESA REGS 7.875 13-20 18/12S HIKMA PHARMCEUTICALS 4.25 15-20 10/04S HSBK EUROPE BV 7.25 07-17 03/05S INTL BK AZERBAIJAN 5.625 14-19 11/06S KAZAK.TEMIR.ZHOL 6.375 10-20 06/10S KAZMUNAIGAZ 9.125 08-18 02/07S KENYA 5.875 14-19 24/06S LANDW RENTENBANK 5.00 06-16 08/11S LATAM AIR GRP REGS 7.25 15-20 09/06S LISTRINDO CAP BV R 6.95 12-19 21/02S LONGFOR PROPERT EMTN 6.875 12-19 18/10S LUKOIL INT REG S 6.125 10-20 09/11S MARFRIG HOLDINGS REGS 6.875 14-19 24/06S METALLOINVEST FIN 5.625 13-20 17/04S MILLICOM INT CEL REGS 6.625 13-21 15/10S MMC FINANCE REGS 5.55 13-20 28/10S MONGOLIA REGS 4.125 12-18 05/01S NATIONAL SAVINGS REGS 8.875 13-18 18/09S NETHERLANDS 1.00 12-17 24/02S NITROGENMUVEK ZRT 7.875 13-20 21/05S NORD GOLD NV 6.375 13-18 07/05S NORTHERN LIGHTS REGS 7.00 12-19 16/08Q PARKSON RETAIL GP 4.50 13-18 03/05S PETROBRAS INTL 7.875 09-19 15/03S PHOSAGRO BD FND REGS 4.204 13-18 13/02S ROAD KING INFRA REGS 9.875 12-17 18/09S SERVICIOS COR 9.875 11-21 06/04S SHIMAO PPTY 6.625 13-20 14/01S SIBUR SEC REGS 3.94 13-18 31/01S STANDARD BANK SUB 8.125 09-19 02/12S SUN HUNG KAI REGS 4.75 16-21 31/05S SWEDEN 1.00 13-16 15/11S TBG GLOBAL REGS 4.625 13-18 03/04S TF VARLIK KIRA REGS 5.375 14-19 24/04S TUPRAS REGS 4.125 12-18 02/05S TURKIYE GARANTI BANK 4.75 14-19 17/10S URALKALIY REGS 3.723 13-18 30/04S US TREASURY NOTES Series AH-2017 0.75 14-17 15/01S
The accompanying notes are an integral part of these financial statements.
Page 76
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Cost
Market value
Unaudited accrued Interest
% of total net assets
794,400.00 763,000.00 869,200.00 1,994,765.62 733,250.00 787,520.00 732,476.32
828,304.00 816,048.00 858,032.00 2,000,312.50 750,771.00 703,136.00 712,019.00
13,125.00 3,660.80 4,888.89 1,666.67 16,031.94 7,441.67 11,362.85
1.42 1.40 1.47 3.43 1.29 1.21 1.22
1,643,448.00
1,621,296.00
9,679.00
2.78
1,643,448.00 828,000.00 815,448.00
1,621,296.00 819,728.00 801,568.00
9,679.00 5,152.78 4,526.22
2.78 1.41 1.37
858,725.00
859,008.00
4,916.67
1.47
858,725.00
859,008.00
4,916.67
1.47
858,725.00 858,725.00
859,008.00 859,008.00
4,916.67 4,916.67
1.47 1.47
57,159,740.27
57,413,082.50
98.42
Cash at banks/(bank liabilities)
311,424.23
0.53
Other net assets/(liabilities)
609,890.02
1.05
58,334,396.75
100.00
Description
800,000 800,000 800,000 2,000,000 700,000 800,000 700,000
VALE OVERSEAS 5.625 09-19 15/09S VEB FINANCE REGS 4.224 13-18 21/11S VTB CAPITAL SA REG S 6.875 08-18 29/05S WI TREASURY SEC. 0.50 15-17 30/04S YPF SOCIEDAD ANONI 8.50 16-21 23/03S ZHAIKMUNAI INTL REGS 7.125 12-19 13/11S ZOOMLION HK SPV REGS 6.875 12-17 05/04S
Floating rate bonds US Dollar
800,000 BANK BARODA SUB REGS FL.R 07-22 25/05S 800,000 CANARA BANK -REGS- FL.R 06-21 28/11S
Other transferable securities Bonds US Dollar
800,000 B COMMUNIC REGS 144A 7.375 14-21 15/02S
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 77
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND
Geographical classification of investments (by domicile of the issuer) The Netherlands Ireland United States of America Turkey Cayman Islands British Virgin Islands United Kingdom Mexico Canada Luxembourg Sri Lanka Germany Sweden Bermuda Barbados Morocco Paraguay Hong Kong Israel Micronesian Islands Georgia Ghana Argentina Kazakhstan Austria Bahrain Colombia Gabon Russia Other
% of net assets 12.83 8.25 8.08 6.73 6.62 5.62 5.20 4.58 4.28 4.06 2.59 1.74 1.72 1.65 1.63 1.63 1.54 1.48 1.47 1.43 1.42 1.31 1.29 1.27 1.24 1.24 1.02 0.89 0.88 4.73 98.42
Page 78
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND
Industrial classification of investments % of net assets 24.12 22.35 21.00 7.44 3.97 3.62 2.94 2.87 1.76 1.65 1.47 1.26 1.12 1.12 0.87 0.86
Banks and credit institutions Holding and finance companies Countries and central government Petroleum Real estate companies Transportation Building materials and trade Communications Chemicals Electrical engineering and electronics Internet and Internet services Precious metals and stones Electronics and semiconductors Retail trade, department stores Pharmaceuticals and cosmetics Foods and non alcoholic drinks
98.42
Page 79
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
1,788,285.69
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
1,536,741.05 671.27 250,558.92 314.45 562,769.89
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
394,614.29 75,356.49 12,099.53 30,590.00 598.30 363.66 3,372.48 4,966.73 36,598.31 1,869.44 2,340.66 1,225,515.80
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2
Realised result
-1,024,423.99 173,734.15 -560,271.22 46,656.37 -138,788.89
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - swap contracts
Note 2 Note 2 Note 2
Result of operations
2,273,027.91 231,371.04 -87,828.02 2,277,782.04
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-566,906.21 3,087,810.58 545,743.08 -14,768,636.05 -272,823.80
Total changes in net assets
-9,697,030.36
Total net assets at the beginning of the period
68,031,427.11
Total net assets at the end of the period
58,334,396.75
The accompanying notes are an integral part of these financial statements.
Page 80
UBAM - EURO BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
52,129,801.20
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on sales of securities Unrealised gain on futures contracts
Note 2
50,603,605.00 77,508.68 1,563.15 272,149.19 1,375.20 633,130.72 328,919.26 211,550.00
Note 2
Note 2, 9
Liabilities
706,024.88
Bank liabilities Other liquid liabilities Payable on purchases of securities Unrealised loss on forward foreign exchange contracts Unrealised loss on swap contracts Interest payable on bank liabilities and expenses payable
307,388.25 33,339.63 245,797.63 3,054.06 26,525.11 89,920.20
Note 2, 8 Note 2, 10
Net assets at the end of the period
51,423,776.32
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
39,800.234
2,734.028
3,673.048
38,861.214
9,503.586
15,655.000
2,770.000
22,388.586
154,793.219
48,068.713
160,950.551
41,911.381
1,184.358
449.857
17.397
1,616.818
The accompanying notes are an integral part of these financial statements.
Page 81
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EURO BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
51,423,776.32
66,674,293.52
122,866,659.33
EUR
EUR
EUR
38,861.214 1,038.92
39,800.234 984.65
50,363.283 979.55
22,388.586 94.19 2.25
9,503.586 91.48 2.65
11,055.953 93.56 2.86
EUR
EUR
EUR
41,911.381 173.98
154,793.219 164.53
436,411.896 162.96
EUR
EUR
EUR
1,616.818 1,020.14
1,184.358 969.28
1,426.677 969.07
The accompanying notes are an integral part of these financial statements.
Page 82
UBAM - EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
55,000 20,000 130,000 120,000 25,000 130,000 40,000 220,000 55,000 265,000 95,000 160,000 55,000 600,000 600,000 300,000 900,000 35,000 110,000 80,000 250,000 95,000 385,000 85,000 270,000 330,000 130,000 190,000 190,000 190,000 350,000 200,000 300,000 500,000 350,000 300,000 350,000 750,000 400,000 355,000 290,000 680,000 255,000 250,000 125,000 260,000 135,000 330,000 510,000 590,000 165,000 570,000 190,000 255,000 60,000 280,000 740,000 165,000 330,000 460,000 250,000 715,000
Market value
Unaudited accrued Interest
% of total net assets
48,474,426.43
50,603,605.00
633,495.31
98.41
47,974,426.43
50,103,170.00
632,684.98
97.44
47,974,426.43 59,080.60 20,638.58 134,741.92 150,861.30 37,773.39 156,227.16 84,924.80 253,037.81 69,576.39 297,559.22 132,276.80 234,911.06 67,762.97 631,410.61 598,008.00 305,813.28 977,082.42 49,947.12 136,962.18 136,643.20 333,844.51 131,519.18 444,215.95 143,150.01 345,287.56 359,826.42 167,398.58 189,770.99 205,727.58 209,779.00 376,513.47 203,718.34 299,901.00 503,345.55 429,286.24 342,048.87 396,025.15 873,892.83 464,440.00 420,464.14 292,001.17 689,970.19 264,446.68 259,075.00 139,121.60 275,892.27 157,656.07 397,089.75 613,205.83 696,792.21 213,926.18 680,606.11 222,577.67 367,681.21 114,985.53 317,891.38 805,362.40 271,917.52 491,234.06 727,531.49 365,124.13 1,139,567.86
50,103,170.00 60,944.40 23,466.16 149,178.90 157,369.92 39,931.30 156,457.60 79,905.20 259,204.00 92,636.50 286,287.45 139,179.75 266,344.00 67,817.75 625,356.00 629,538.00 320,793.00 966,366.00 53,543.00 137,156.80 137,910.40 401,332.50 168,832.10 433,848.80 150,813.80 347,889.60 387,486.00 182,919.10 202,716.70 232,204.70 205,186.70 376,355.00 204,886.00 305,544.00 506,480.00 427,983.50 342,558.00 390,439.00 868,312.50 521,720.00 423,614.40 301,484.00 700,060.00 264,486.00 261,100.00 143,437.50 301,288.00 160,056.00 423,363.60 650,760.00 703,870.00 262,671.75 758,014.50 365,930.50 426,125.40 118,614.00 317,926.00 786,901.20 302,920.20 573,276.00 760,886.00 457,020.00 1,142,927.50
632,684.98 673.21 104.92 1,578.83 299.84 21.58 3,592.76 647.87 8,228.36 669.12 5,622.56 1,350.69 9,590.16 390.50 16,811.48 2,963.01 4,633.20 8,340.41 360.55 3,525.41 65.75 3,541.10 1,223.29 3,966.03 930.34 8,653.28 162.74 85.48 41.64 79.12 1,957.26 7,459.02 692.62 217.81 227.12 21,157.79 7,556.35 6,113.01 2,293.66 10,879.78 1,925.75 143.01 670.68 1,518.85 246.58 1,302.94 3,979.92 299.59 813.70 9,541.60 13,045.29 528.90 3,607.40 1,374.25 6,939.34 433.97 2,151.78 21,396.31 1,342.60 2,865.04 4,574.79 9,779.71 10,989.45
97.44 0.12 0.05 0.29 0.31 0.08 0.30 0.16 0.50 0.18 0.56 0.27 0.52 0.13 1.22 1.22 0.62 1.89 0.10 0.27 0.27 0.78 0.33 0.84 0.29 0.68 0.75 0.36 0.39 0.45 0.40 0.73 0.40 0.59 0.98 0.83 0.67 0.76 1.70 1.01 0.82 0.59 1.36 0.51 0.51 0.28 0.59 0.31 0.82 1.27 1.37 0.51 1.47 0.71 0.83 0.23 0.62 1.54 0.59 1.11 1.48 0.89 2.23
Cost
Euro
AUSTRIA 1.20 15-25 20/10A AUSTRIA 1.50 16-47 20/02A AUSTRIA 1.75 13-23 20/10A AUSTRIA 2.40 13-34 23/05A AUSTRIA 3.15 12-44 20/06A AUSTRIA 3.50 05-21 15/09A AUSTRIA 3.80 12-62 26/01A AUSTRIA 3.90 04-20 15/07A AUSTRIA 4.15 06-37 15/03A AUSTRIA 4.65 03-18 15/01A AUSTRIA 4.85 09-26 15/03A AUSTRIA 6.25 97-27 15/07A AUSTRIA REP OF 3.65 11-22 20/04A BANCO POPULAR ESP 3.50 13-17 11/09A BANK OF IRELAND 1.75 14-19 19/03A BCO POP ESPANOL 2.125 14-19 08/10A BCO POPULAR ESPANOL 4.125 10-18 09/04A BELGIQUE OLO 4.00 12-32 28/03A BELGIQUE OLO 4.25 11-21 28/09A BELGIUM 3.75 13-45 22/06A BELGIUM OLO -315.50 98-28 28/03A BELGIUM OLO -445.00 04-35 28/03A BELGIUM OLO -554.00 09-19 28/03A BELGIUM OLO -604.25 10-41 28/03A BELGIUM OLO -654.25 12-22 28/09A BELGIUM OLO -682.25 13-23 22/06A BELGIUM OLO -733.00 14-34 22/06A BELGIUM OLO -751.00 15-31 22/06A BELGIUM 144A/REGS OLO 1.90 15-38 22/06A BELGIUM -52-LINEAIRE 4.00 08-18 28/03A BNP PARIBAS 2.50 12-19 23/08A BPCE SFH 0.375 15-20 28/07A CIE DE FIN.FONCIER 0.25 16-22 16/03A CIE FIN FONCIER 0.125 15-20 18/02A CITIGROUP INC 7.375 09-19 04/09A CM-CIC COVERED BONDS 3.125 10-20 09/09A COMMERZBANK 6.375 11-19 22/03A CREDIT AGRICOLE 302 5.875 09-19 11/06A FINLAND 2.75 12-28 04/07A FRANCE 3.00 11-22 25/04U FRANCE OAT 0.50 15-25 25/05A FRANCE OAT 1.00 12-18 25/05A FRANCE OAT 1.00 12-18 25/11A FRANCE OAT 1.00 13-19 25/05A FRANCE OAT 1.75 13-24 25/11A FRANCE OAT 2.25 11-22 25/10A FRANCE OAT 2.25 13-24 25/05A FRANCE OAT 2.50 13-30 25/05A FRANCE OAT 2.75 12-27 25/10A FRANCE OAT 3.25 10-21 25/10A FRANCE OAT 3.25 12-45 25/05A FRANCE OAT 3.50 10-26 25/04A FRANCE OAT 4.00 04-55 25/04A FRANCE OAT 4.00 06-38 25/10A FRANCE OAT 4.00 09-60 25/04A FRANCE OAT 4.25 03-19 25/04A FRANCE OAT 4.25 06-17 25/10A FRANCE OAT 4.50 09-41 25/04A FRANCE OAT 4.75 04-35 25/04A FRANCE OAT 5.50 98-29 25/04A FRANCE OAT 5.75 00-32 25/10A FRANCE OAT 8.50 92-23 25/04A
The accompanying notes are an integral part of these financial statements.
Page 83
UBAM - EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
100,000 400,000 35,000 45,000 125,000 120,000 130,000 140,000 210,000 15,000 300,000 220,000 150,000 545,000 165,000 425,000 640,000 290,000 320,000 160,000 135,000 435,000 185,000 655,000 285,000 725,000 40,000 245,000 90,000 240,000 190,000 400,000 160,000 300,000 1,569,000 173,000 120,000 270,000 130,000 235,000 430,000 250,000 255,000 350,000 400,000 350,000 135,000 180,000 240,000 180,000 110,000 100,000 175,000 114,000 120,000 125,000 115,000 120,000 95,000 35,000 1,150,000 200,000 500,000 640,000 545,000 275,000 145,000
HJ HEINZ CO 2.00 15-23 30/06A IPIC GMTN REG 2.375 12-18 30/05A IRELAND 2.40 14-30 15/05A IRELAND TREASURY BOND REGS 2.00 15-45 18/02A IRELAND TREASURY BOND 3.40 14-24 18/03A IRELAND TREASURY BOND 4.50 07-18 18/10A IRELAND TREASURY BOND 5.00 10-20 18/10A IRELAND TREASURY BOND 5.40 09-25 13/03A IRELAND TREASURY BOND 5.90 09-19 18/10A IRLANDE 1.00 16-26 15/05A ITALY 3.50 13-18 01/12S ITALY 3.50 14-30 01/03S ITALY BOT 1.65 15-32 01/03S ITALY BOT 3.75 13-21 01/05S ITALY BOT 4.75 13-28 01/09S ITALY BTP 1.35 15-22 15/04S ITALY BTP 1.50 14-19 01/08S ITALY BTP 1.50 15-25 01/06S ITALY BTP 2.15 14-21 15/12S ITALY BTP 2.70 16-47 01/03S ITALY BTP 3.25 14-46 01/09S ITALY BTP 3.75 06-21 01/08S ITALY BTP 4.00 05-37 01/02S ITALY BTP 4.25 09-19 01/09S ITALY BTP 4.25 09-20 01/03S ITALY BTP 4.50 08-18 01/08S ITALY BTP 4.50 13-24 01/03S ITALY BTP 4.75 08-23 01/08S ITALY BTP 4.75 13-44 01/09S ITALY BTP 5.00 03-34 01/08S ITALY BTP 5.00 07-39 01/08S ITALY BTP 5.00 09-25 01/03S ITALY BTP 5.00 09-40 01/09S ITALY BTP 5.00 11-22 01/03S ITALY BTP 5.25 02-17 01/08S ITALY BTP 5.25 98-29 01/11S ITALY BTP 5.75 02-33 01/02S ITALY BTP 6.00 00-31 01/05S ITALY BTP 6.50 97-27 01/11S ITALY BTP 7.25 96-26 01/11S ITALY BTP 9.00 93-23 01/11S ITALY BTPS 4.50 10-26 01/03S ITALY BTPS 4.75 11-21 01/09S JPM CHASE 1.875 12-19 21/11A KBC BANK 1.25 13-20 28/05A MERRILL LYNCH EMTN 4.625 06-18 14/09A NEDERLAND 0.00 15-18 15/04A NETHERLANDS 0.25 15-25 15/07A NETHERLANDS 2.00 14-24 15/07A NETHERLANDS 2.25 12-22 15/07A NETHERLANDS 2.50 12-33 15/01A NETHERLANDS 2.75 14-47 15/01A NETHERLANDS 3.50 10-20 15/07A NETHERLANDS 3.75 06-23 15/01A NETHERLANDS 3.75 10-42 15/01A NETHERLANDS 4.00 05-37 15/01A NETHERLANDS 5.50 98-28 15/01A NETHERLANDS 7.50 93-23 15/01A NETHERLANDS 1.75 13-23 15/07A NETHERLANDS GOVT 3.25 11-21 15/07A NIBC BANK NV 1.75 13-18 10/08A NORDEA BANK FINLAN 0.125 15-20 17/06A SOCIETE GENERALE SFH 1.625 13-21 01/05A SPAIN 0.50 14-17 31/10A SPAIN 1.40 14-20 31/01A SPAIN 1.60 15-25 30/04A SPAIN 1.95 15-30 30/07A
Cost
Market value
Unaudited accrued Interest
% of total net assets
104,960.02 417,200.14 37,727.43 47,674.80 151,738.18 135,880.40 162,474.49 163,707.57 236,027.23 15,180.97 328,446.30 254,584.40 148,979.75 634,247.32 221,310.27 432,847.20 665,874.26 285,947.85 341,532.30 165,892.48 172,197.02 505,263.68 189,005.63 724,494.29 309,499.38 797,782.59 50,242.49 287,559.72 126,506.72 243,888.00 253,432.45 443,462.54 229,687.79 336,093.75 1,744,121.14 223,040.47 183,266.22 369,235.82 192,881.05 364,603.04 660,056.92 321,930.15 308,616.62 369,845.00 420,800.30 380,866.87 136,391.85 177,163.29 279,137.73 204,506.89 134,651.92 156,560.00 193,721.87 138,480.09 202,878.76 186,636.57 183,003.93 178,593.16 107,346.08 41,361.93 1,217,275.00 201,300.47 540,750.95 645,376.00 564,169.00 280,312.90 144,463.50
106,876.00 416,856.00 42,256.55 53,173.35 154,593.75 133,476.00 159,273.40 198,919.00 252,898.80 15,706.50 325,995.00 273,620.60 150,897.00 635,077.60 225,642.45 445,910.00 669,939.20 300,158.70 350,320.00 175,476.80 165,784.05 510,407.25 249,250.50 743,018.90 328,984.05 794,418.75 50,628.00 313,612.25 138,026.70 356,868.00 293,033.20 530,020.00 246,692.80 376,104.00 1,660,708.05 250,408.85 189,435.60 426,222.00 199,306.90 369,984.00 680,530.90 325,342.50 312,540.75 370,034.00 422,756.00 380,208.50 136,679.36 184,683.60 282,048.00 209,192.40 150,064.64 163,580.00 204,041.25 145,036.50 218,025.96 216,382.50 186,708.25 182,409.60 108,732.25 41,644.05 1,200,784.00 202,856.00 541,980.00 646,003.20 573,067.50 289,671.25 153,523.10
0.00 8,825.00 105.86 327.05 1,210.96 3,777.05 4,546.45 2,257.64 8,666.23 18.90 831.97 2,531.79 818.24 3,332.20 2,577.00 1,194.66 3,956.04 345.62 281.97 1,432.11 1,442.63 6,722.18 3,049.45 9,153.09 3,982.64 13,444.37 591.85 4,795.67 1,405.64 4,945.05 3,914.84 6,576.09 2,630.43 4,932.07 33,944.71 1,480.84 2,843.41 2,641.30 1,377.72 2,777.85 6,309.78 3,699.05 3,982.64 3,980.53 452.05 12,826.16 0.00 431.56 4,615.46 3,884.02 1,254.78 1,254.78 5,873.98 1,950.61 2,053.28 2,281.42 2,886.00 4,106.56 1,594.36 1,090.88 14,626.37 8.90 3,929.30 2,124.59 3,147.90 735.34 2,595.74
0.21 0.81 0.08 0.10 0.30 0.26 0.31 0.39 0.49 0.03 0.63 0.53 0.29 1.23 0.44 0.87 1.30 0.58 0.68 0.34 0.32 0.99 0.48 1.44 0.64 1.55 0.10 0.61 0.27 0.69 0.57 1.03 0.48 0.73 3.24 0.49 0.37 0.83 0.39 0.72 1.32 0.63 0.61 0.72 0.82 0.74 0.27 0.36 0.55 0.41 0.29 0.32 0.40 0.28 0.42 0.42 0.36 0.35 0.21 0.08 2.35 0.39 1.05 1.26 1.11 0.56 0.30
The accompanying notes are an integral part of these financial statements.
Page 84
UBAM - EURO BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
90,000 600,000 35,000 522,000 269,000 130,000 220,000 195,000 120,000 445,000 120,000 130,000 45,000 285,000 100,000 180,000 290,000 165,000 195,000 315,000 600,000
SPAIN 1.95 16-26 30/04A SPAIN 4.00 10-20 30/04A SPAIN 4.00 14-64 31/10A SPAIN 4.10 08-18 30/07A SPAIN 4.20 05-37 31/01A SPAIN 4.40 13-23 31/10A SPAIN 4.60 09-19 30/07A SPAIN 4.65 10-25 30/07A SPAIN 4.70 09-41 30/07A SPAIN 4.80 08-24 31/01A SPAIN 4.90 07-40 30/07A SPAIN 5.15 13-28 31/10A SPAIN 5.15 13-44 31/10A SPAIN 5.40 13-23 31/01A SPAIN 5.50 11-21 30/04A SPAIN 5.75 01-32 30/07A SPAIN 5.85 11-22 31/01A SPAIN 5.90 11-26 30/07A SPAIN 6.00 98-29 31/01A SPAIN STRIP 2.75 14-24 31/10A WACHOVIA CORP -SUB- 4.375 06-18 27/11A
Floating rate bonds Euro
500,000 CITIGROUP INC
Market value
Unaudited accrued Interest
% of total net assets
93,115.20 668,599.59 54,963.88 569,451.69 305,227.82 158,963.24 252,074.67 200,288.40 167,487.96 521,140.91 152,789.34 172,355.42 76,662.45 363,303.14 124,802.27 266,452.73 343,111.50 214,718.34 292,052.35 340,962.14 682,158.00
96,565.50 691,968.00 51,425.48 568,551.96 374,415.72 163,978.10 251,570.00 255,966.75 181,851.60 577,654.50 185,316.00 185,390.40 73,479.60 375,245.25 125,835.00 286,331.40 379,531.70 238,507.50 298,847.25 360,675.00 657,930.00
293.30 4,010.96 929.51 19,647.74 4,661.20 3,797.70 9,290.49 8,324.26 5,177.70 8,812.46 5,398.03 4,445.04 1,538.67 6,349.43 919.18 9,501.64 6,999.22 8,937.05 4,827.05 5,768.84 15,491.80
0.19 1.35 0.10 1.11 0.73 0.32 0.49 0.50 0.35 1.12 0.36 0.36 0.14 0.73 0.24 0.56 0.74 0.46 0.58 0.70 1.28
500,000.00
500,435.00
810.33
0.97
500,000.00 500,000.00
500,435.00 500,435.00
810.33 810.33
0.97 0.97
48,474,426.43
50,603,605.00
98.41
-305,825.10
-0.59
1,125,996.42
2.19
51,423,776.32
100.00
Cost
FL.R 04-19 10/02Q
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 85
UBAM - EURO BOND
Geographical classification of investments (by domicile of the issuer) France Italy Spain The Netherlands Belgium United States of America Austria Ireland Finland Cayman Islands Germany
% of net assets 26.76 25.39 18.09 7.07 6.73 4.75 3.47 3.18 1.40 0.81 0.76 98.41
Industrial classification of investments % of net assets 77.46 19.93 0.81 0.21
Countries and central government Banks and credit institutions Holding and finance companies Foods and non alcoholic drinks
98.41
Page 86
UBAM - EURO BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
813,092.01
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
789,305.44 18.04 23,762.34 6.19 235,775.26
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
121,910.90 26,618.62 11,098.07 27,170.66 506.06 490.54 2,441.34 1,292.80 33,577.28 550.00 8,016.97 2,102.02 577,316.75
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
516,235.81 8,940.61 320,536.66 -14,078.65 -10,809.49 1,398,141.69
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
1,274,201.48 1,291.47 298,955.00 -6,124.17 2,966,465.47
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-34,721.07 11,285,753.30 1,445,057.62 -30,658,859.38 -254,213.14 -15,250,517.20
Total net assets at the beginning of the period
66,674,293.52
Total net assets at the end of the period
51,423,776.32
The accompanying notes are an integral part of these financial statements.
Page 87
UBAM - GLOBAL AGGREGATE BOND*
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
29,075,266.58
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Unrealised gain on futures contracts Unrealised gain on swap contracts Receivable on swap contracts Other receivables
Note 2
24,337,245.46 249,561.36 3,405,447.37 626,725.63 3,148.90 238,164.79 118,844.97 5,853.34 77,942.77 12,331.99
Note 2 Note 2, 9 Note 2, 10
Liabilities
790,773.52
Other liquid liabilities Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Payable on treasury transactions Payable on swap contracts Interest payable on bank liabilities and expenses payable
539,999.65 27,868.54 94,100.16 10,936.85 63,568.23 54,300.09
Note 2, 8 Note 2
Net assets at the end of the period
28,284,493.06
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
AH shares
Capitalisation shares
AH EUR shares
Capitalisation shares
AH CHF shares
Capitalisation shares Distribution shares
IH shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
0.000
100.000
0.000
100.000
8.000
595.563
0.000
603.563
16,158.136
913.013
1,106.572
15,964.577
7,148.000
2,381.931
240.000
9,289.931
0.000
100.000
0.000
100.000
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 88
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL AGGREGATE BOND* Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AH shares Capitalisation shares Number of shares outstanding Net asset value per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
28,284,493.06
25,541,750.44
33,208,484.72
USD
USD
USD
100.000 108.00
-
-
EUR
EUR
EUR
603.563 1,333.09
8.000 1,271.50
8.000 1,271.72
CHF
CHF
CHF
15,964.577 1,599.12
16,158.136 1,529.18
20,401.454 1,551.02
9,289.931 122.06 1.92
7,148.000 118.61 2.17
10,958.000 122.45 1.92
USD
USD
USD
100.000 108.20
-
-
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 89
UBAM - GLOBAL AGGREGATE BOND* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
Canadian Dollar
400,000 CANADA 100,000 100,000 80,000 50,000 120,000 60,000 500,000 200,000 100,000 200,000 350,000 500,000 50,000 100,000 250,000 230,000 100,000 300,000 120,000 700,000 700,000 500,000 200,000 270,000 350,000 300,000 400,000 115,000 100,000 100,000 30,000 200,000 100,000 200,000 110,000 70,000 200,000 100,000 275,000 180,000 75,000 100,000 50,000,000 10,000,000 150,000,000 150,000,000 45,000,000
8.00 92-23 01/06S
Euro
AUSTRIA 1.75 13-23 20/10A AUSTRIA 4.85 09-26 15/03A BELGIUM OLO -315.50 98-28 28/03A BELGIUM OLO -445.00 04-35 28/03A BELGIUM OLO -583.75 10-20 28/09A BELGIUM OLO -682.25 13-23 22/06A BFCM 2.875 12-17 21/06A BNP PARIBAS 2.50 12-19 23/08A CIE DE FIN.FONCIER 0.25 16-22 16/03A CITIGROUP INC 7.375 09-19 04/09A CREDIT AGRICOLE 302 5.875 09-19 11/06A FCE BANK 1.75 13-18 21/05A FINLAND 2.75 12-28 04/07A FRANCE 3.00 11-22 25/04U FRANCE OAT 0.50 15-25 25/05A FRANCE OAT 2.50 13-30 25/05A FRANCE OAT 3.75 05-21 25/04A FRANCE OAT 4.25 03-19 25/04A FRANCE OAT 4.50 09-41 25/04A GERMANY 3.00 10-20 04/07A GERMANY 6.25 94-24 04/01A INTESA SAN PAOLO 5.00 12-17 28/02A IRELAND TREASURY BOND 5.90 09-19 18/10A ITALY BTP 1.50 15-25 01/06S ITALY BTP 2.15 14-21 15/12S ITALY BTP 4.25 09-20 01/03S ITALY BTP 4.50 07-18 01/02S ITALY BTP 5.00 03-34 01/08S ITALY BTP 5.00 09-40 01/09S ITALY BTP 5.25 98-29 01/11S ITALY BTP 6.00 00-31 01/05S JPM CHASE 1.875 12-19 21/11A MERCK & CO 1.125 14-21 15/10A MERRILL LYNCH EMTN 4.625 06-18 14/09A NETHERLANDS 0.25 15-25 15/07A NETHERLANDS 4.00 05-37 15/01A PORTUGAL 4.75 09-19 14/06A SPAIN 4.00 10-20 30/04A SPAIN 4.10 08-18 30/07A SPAIN 4.80 08-24 31/01A SPAIN 4.90 07-40 30/07A SPAIN 6.00 98-29 31/01A
Japanese Yen
ASIAN DEVELOP BANK 2.35 04-27 21/06S BEI EMTN 1.90 06-26 26/01S BK NED GEMEENTEN 1.85 06-16 07/11A JAPAN FIN.MUNICIPAL 1.90 08-18 22/06S KREDITANSTALT FUER WIEDERAUFBAU 2.60 07-37 20/06S
New Polish Zloty
250,000 POLAND -1019-
5.50 08-19 25/10A
Pound Sterling
300,000 UK TREASURY STOCK 650,000 UK TREASURY STOCK 190,000 UK TREASURY STOCK 500,000 200,000 500,000 40,000
Market value
Unaudited accrued Interest
% of total net assets
24,924,695.90
24,337,245.46
238,183.49
86.04
24,303,760.63
23,782,598.12
238,131.21
84.08
530,236.65 530,236.65
458,406.24 458,406.24
1,781.22 1,781.22
1.62 1.62
12,266,928.62 123,050.89 156,350.67 135,342.16 81,314.88 173,282.08 76,044.48 663,678.54 244,292.54 109,798.75 278,533.67 463,545.71 642,825.52 67,765.45 130,314.83 275,608.97 302,280.64 148,524.82 421,850.08 215,471.23 892,424.45 1,160,487.16 688,790.55 288,344.94 300,916.82 417,298.31 382,278.52 656,952.74 185,055.85 159,783.57 168,445.15 53,748.25 239,966.49 125,055.27 247,117.63 119,809.66 121,472.13 263,498.22 142,284.73 406,785.76 261,917.43 110,868.18 163,750.90
11,760,006.08 127,484.84 162,759.73 142,675.31 98,717.91 157,703.80 78,268.65 571,356.03 238,920.91 113,148.04 271,696.16 450,170.83 572,661.40 72,450.60 132,567.44 288,735.90 327,809.80 133,463.98 378,428.46 244,748.50 892,137.28 1,173,286.51 573,383.52 267,578.97 310,463.98 425,674.38 384,720.88 476,730.86 189,971.61 171,289.61 160,804.46 52,612.37 234,908.15 116,484.22 241,367.22 125,384.26 134,618.48 245,426.63 128,123.64 332,756.75 259,582.36 128,673.01 170,258.64
157,860.11 1,349.23 1,579.53 1,258.87 715.27 3,769.94 32.87 393.78 4,735.20 80.65 13,431.56 1,189.14 1,065.29 1,510.86 602.66 136.97 630.04 753.31 2,561.27 1,084.78 23,074.98 23,638.04 9,333.80 9,169.28 357.48 342.62 4,657.39 8,240.56 2,632.41 1,826.42 950.95 326.04 2,526.96 884.44 8,142.41 292.99 1,419.35 462.64 742.66 11,499.24 3,960.08 3,748.09 2,750.06
41.58 0.45 0.58 0.50 0.35 0.56 0.28 2.02 0.84 0.40 0.96 1.59 2.02 0.26 0.47 1.02 1.16 0.47 1.34 0.87 3.15 4.14 2.03 0.95 1.10 1.50 1.36 1.69 0.67 0.61 0.57 0.19 0.83 0.41 0.85 0.44 0.48 0.87 0.45 1.18 0.92 0.45 0.60
4,344,603.63 591,868.72 103,233.75 1,561,115.29 1,603,954.37 484,431.50
4,435,845.06 629,746.83 118,171.33 1,472,131.29 1,520,644.76 695,150.85
19,434.85 282.42 789.39 17,441.69 608.89 312.46
15.68 2.23 0.42 5.20 5.37 2.46
95,101.32 95,101.32
70,491.14 70,491.14
2,361.42 2,361.42
0.25 0.25
2,038,355.56 557,590.00 1,073,353.12 407,412.44
1,915,739.66 539,411.97 973,818.09 402,509.60
14,049.60 1,071.09 12,219.22 759.29
6.77 1.91 3.44 1.42
5,028,534.85 499,135.00 199,762.00 498,590.00 41,606.42
5,142,109.94 500,510.00 199,154.00 501,685.00 57,728.12
42,644.01 1,671.88 1,427.08 3,746.53 672.53
18.18 1.77 0.70 1.77 0.20
Cost
4.25 06-27 07/12S 4.50 08-19 07/03S 4.75 04-38 07/12S
US Dollar
COMMONW.BK AUSTRAL. 1.125 14-17 13/03S DEUTSCHE BANK AG 1.875 15-18 13/02S KOOKMIN BANK REGS 1.625 14-17 14/07S US TREASURY BONDS 4.50 06-36 15/02S
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 90
UBAM - GLOBAL AGGREGATE BOND* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
820,000 1,400,000 800,000 50,000
US TREASURY BONDS 6.25 93-23 15/08S US TREASURY BONDS 8.00 91-21 15/11S US TREASURY NOTES Series Y-2017 0.875 12-17 30/04S USA TREASURY BOND 4.375 08-38 15/02S
Floating rate bonds Euro
500,000 SANTANDER ISSUAN.EMTN FL.R 07-17 23/03Q
Total investments in securities
Cost
Market value
Unaudited accrued Interest
% of total net assets
1,040,829.16 1,880,813.41 800,562.50 67,236.36
1,100,657.82 1,908,375.00 802,562.50 71,437.50
19,148.35 14,000.00 1,160.33 817.31
3.89 6.76 2.84 0.25
620,935.27
554,647.34
52.28
1.96
620,935.27 620,935.27
554,647.34 554,647.34
52.28 52.28
1.96 1.96
24,924,695.90
24,337,245.46
86.04
3,405,447.37
12.04
541,800.23
1.92
28,284,493.06
100.00
Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 91
UBAM - GLOBAL AGGREGATE BOND*
Geographical classification of investments (by domicile of the issuer) United States of America France Germany Italy United Kingdom The Netherlands Spain Japan Philippines South Korea Belgium Canada Austria Ireland Portugal Luxembourg Finland Poland
% of net assets 18.76 10.18 9.75 9.72 9.49 6.12 5.56 5.37 2.23 1.77 1.69 1.62 1.03 0.95 0.87 0.42 0.26 0.25 86.04
Industrial classification of investments % of net assets 52.21 30.77 2.65 0.41
Countries and central government Banks and credit institutions Supranational Pharmaceuticals and cosmetics
86.04
* Please refer to Note 18
Page 92
UBAM - GLOBAL AGGREGATE BOND* Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
201,497.41
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
194,870.70 55.32 6,547.38 24.01 141,417.65
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
68,642.88 14,172.88 7,171.25 14,031.60 286.91 1,274.53 2,349.36 2,335.27 23,050.41 7,256.36 846.20 60,079.76
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
1,729,958.93 -494,143.20 329,824.62 36,176.15 -1,302,780.51 359,115.75
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
1,486,536.03 -77,562.07 116,488.28 4,313.01 1,888,891.00
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-15,880.04 2,353,236.93 292,826.81 -1,747,955.38 -28,376.70 2,742,742.62
Total net assets at the beginning of the period
25,541,750.44
Total net assets at the end of the period
28,284,493.06
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 93
UBAM - GLOBAL CREDIT OPPORTUNITIES
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
146,199,562.87
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on sales of securities Receivable on issues of shares Unrealised gain on forward foreign exchange contracts
Note 2
119,655,002.90 1,469,499.97 17,430,517.89 794,499.71 4,923.22 1,658,959.31 5,064,150.00 88,443.42 33,566.45
Note 2
Note 2, 8
Liabilities
1,441,299.94
Other liquid liabilities Payable on purchases of securities Unrealised loss on futures contracts Unrealised loss on swap contracts Interest payable on bank liabilities and expenses payable
133,286.02 149,625.00 454,301.95 369,392.78 334,694.19
Note 2, 9 Note 2, 10
Net assets at the end of the period
144,758,262.93
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
AP shares
Capitalisation shares
AH GBP shares
Distribution shares
APH CHF shares
Capitalisation shares
APH USD shares
Capitalisation shares
APH GBP shares
Capitalisation shares
IP shares
Capitalisation shares
IPH USD shares
Capitalisation shares Distribution shares
U shares
Distribution shares
Shares outstanding as at 01/01/2016
Shares issued
567,740.442
402,377.967
83,928.517
886,189.892
0.000
300.000
0.000
300.000
10,784.000
3,848.000
5,833.000
8,799.000
379,927.533
23,539.000
81,602.533
321,864.000
13,267.319
2,238.000
4,960.319
10,545.000
20,114.548
12,865.295
5,426.659
27,553.184
16,732.000
2,019.000
155.000
18,596.000
1,020.000
0.000
0.000
1,020.000
3,530.000
8,885.000
5,267.000
7,148.000
The accompanying notes are an integral part of these financial statements.
Page 94
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL CREDIT OPPORTUNITIES Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
UH GBP shares
Capitalisation shares
UPH GBP shares
Capitalisation shares Distribution shares
R shares
Capitalisation shares
Z shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
0.000
10.000
0.000
10.000
15.000
0.000
10.000
5.000
10,123.000
6,928.000
1,168.000
15,883.000
10.000
0.000
0.000
10.000
185,081.072
0.000
0.000
185,081.072
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AP shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Distribution shares Number of shares outstanding Net asset value per share
APH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
APH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
APH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
144,758,262.93
118,271,295.12
90,209,896.34
EUR
EUR
EUR
886,189.892 99.30
567,740.442 99.67
501,227.113 99.99
GBP
GBP
GBP
300.000 100.39
-
-
CHF
CHF
CHF
8,799.000 97.96
10,784.000 98.60
3,410.000 99.98
USD
USD
USD
321,864.000 100.05
379,927.533 99.99
276,660.000 100.03
GBP
GBP
GBP
10,545.000 100.33
13,267.319 100.31
4,650.000 100.04
The accompanying notes are an integral part of these financial statements.
Page 95
UBAM - GLOBAL CREDIT OPPORTUNITIES Key figures relating to the last 3 years Period/Year ended as at:
Total net assets IP shares Capitalisation shares Number of shares outstanding Net asset value per share
IPH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
U shares Distribution shares Number of shares outstanding Net asset value per share
UH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
UPH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
Z shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
144,758,262.93
118,271,295.12
90,209,896.34
EUR
EUR
EUR
27,553.184 100.06
20,114.548 100.19
163,300.000 100.06
USD
USD
USD
18,596.000 100.34
16,732.000 100.06
-
1,020.000 97.23 3.17
1,020.000 100.08 -
-
EUR
EUR
EUR
7,148.000 99.75
3,530.000 100.12
-
GBP
GBP
GBP
10.000 101.30
-
-
GBP
GBP
GBP
5.000 100.74
15.000 100.57
-
15,883.000 97.21 3.18
10,123.000 100.21 -
-
EUR
EUR
EUR
10.000 98.44
10.000 99.06
10.000 99.90
EUR
EUR
EUR
185,081.072 100.34
185,081.072 100.22
-
The accompanying notes are an integral part of these financial statements.
Page 96
UBAM - GLOBAL CREDIT OPPORTUNITIES Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
Unaudited accrued Interest
% of total net assets
119,720,994.42
118,952,720.56
1,656,540.66
82.17
52,400,645.71
52,656,150.83
567,488.13
36.38
Euro
33,755,135.33 595,536.00 1,563,000.51 1,367,600.68 1,015,850.25 1,611,000.23 706,909.43 1,131,207.45 798,648.00 805,163.49 1,934,100.29 866,560.67 395,852.00 1,814,096.00 1,364,584.25 207,230.58 3,169,905.65 496,980.00 1,291,368.71 1,020,952.55 734,720.49 1,471,400.23 5,601,517.30 1,688,950.57 2,102,000.00
33,836,550.50 630,750.00 1,554,855.00 1,354,938.00 1,050,520.00 1,597,815.00 731,010.00 1,144,231.00 803,240.00 810,765.00 1,945,072.50 869,384.00 401,964.00 1,724,744.00 1,389,388.00 205,566.00 3,200,192.00 509,650.00 1,297,164.00 1,046,070.00 724,794.00 1,480,595.00 5,578,515.00 1,748,348.00 2,036,980.00
435,990.54 2,759.59 308.22 36,424.86 12,875.68 59,149.59 2,282.19 10,207.31 657.53 18,678.07 7,623.00 13,989.07 665.75 25,375.00 0.00 1,121.92 4,065.00 890.41 7,105.48 10,993.15 10,260.27 7,170.55 162,518.85 3,073.97 37,795.08
23.38 0.44 1.07 0.94 0.73 1.10 0.50 0.79 0.55 0.56 1.34 0.60 0.28 1.19 0.96 0.14 2.22 0.35 0.90 0.72 0.50 1.02 3.86 1.21 1.41
US Dollar
18,645,510.38 1,139,550.37 2,016,938.83 699,503.32 926,709.75 810,319.87 571,315.13 351,363.18 1,783,882.62 4,499,640.03 911,473.02 1,361,436.81 225,339.14 1,210,639.08 2,137,399.23
18,819,600.33 1,123,589.72 1,968,153.38 727,492.69 932,535.21 860,806.51 613,797.20 366,216.30 1,833,907.92 4,529,951.85 941,068.45 1,383,586.12 241,730.05 1,209,343.35 2,087,421.58
131,497.59 15,512.25 48,307.01 2,400.35 3,150.46 9,491.88 376.31 2,033.79 10,843.32 1,754.55 3,375.49 8,776.27 355.39 22,035.20 3,085.32
13.00 0.78 1.36 0.50 0.64 0.59 0.42 0.25 1.27 3.13 0.65 0.96 0.17 0.84 1.44
67,320,348.71
66,296,569.73
1,089,052.53
45.79
47,306,594.70 702,796.65 1,104,452.74 879,897.90 433,295.00 4,300,000.00 1,727,500.03 309,144.52 1,789,500.00 2,718,906.98 337,012.78 654,875.12 2,770,290.15 1,073,750.00 1,012,950.06 941,420.88 2,147,914.29 477,000.13 1,027,500.01 1,800,000.00 985,000.89 1,100,000.00
46,413,015.48 653,520.00 1,051,506.75 833,841.33 423,591.00 4,302,107.00 1,675,965.00 287,706.00 1,743,996.00 2,640,600.00 311,922.60 640,555.50 2,711,798.00 1,053,420.00 1,016,730.00 947,630.00 2,060,600.00 483,800.00 1,046,520.00 1,805,166.00 986,760.00 1,104,510.00
806,476.29 10,937.50 15,005.65 47,333.52 12,565.57 674.03 116,077.21 652.66 18,233.41 101,950.00 408.02 8,679.99 16,291.18 47,684.43 21,530.00 18,032.79 25,318.96 4,419.52 37,691.26 1,216.00 25,358.61 201.54
32.06 0.45 0.73 0.58 0.29 2.98 1.16 0.20 1.20 1.82 0.22 0.44 1.88 0.73 0.70 0.65 1.42 0.33 0.72 1.25 0.68 0.76
600,000 1,500,000 1,300,000 1,000,000 1,500,000 700,000 1,100,000 800,000 750,000 2,100,000 800,000 400,000 1,400,000 1,300,000 200,000 3,100,000 500,000 1,200,000 1,000,000 700,000 1,450,000 5,300,000 1,700,000 2,000,000
ALSTRIA OFFICE REIT 2.125 16-23 12/04A AMERICA MOVIL 3.75 10-17 28/06A BANCO POPULAR ESP 3.50 13-17 11/09A BANK OF AMERICA 1.625 15-22 14/09A BAYERISCHE LDBK EMTN 5.75 07-17 23/10A BCO POPULAR ESPANOL 1.00 16-22 03/10A CITIGROUP 1.375 14-21 27/10A CREDIT SUISSE AG 0.375 16-19 11/04A GAZ CAPITAL 6.605 07-18 13/02A GLENCORE FINANCE EURO 1.25 15-21 17/03A GOLDMAN SACHS GROUP 2.50 14-21 18/10A HEIDELBERGCEMENT 2.25 16-24 03/06A HEIDELBERGCEMENT 7.50 10-20 03/04S HJ HEINZ CO 2.00 15-23 30/06A INTESA SAN PAOLO 3.25 12-17 28/04A ITALY BTP 1.60 16-26 01/06S KBC GROEP 1.00 16-21 26/04A MORGAN STANLEY 2.375 14-21 31/03A PEMEX 3.75 16-19 15/03A PERNOD RICARD 5.00 11-17 15/03A PEUGEOT SA 2.375 16-23 14/04A PORTUGAL 4.35 07-17 16/10A PROLOGIS 1.375 15-21 13/05A ROYAL BK OF SCOT SUB 4.35 06-17 23/01A
1,200,000 2,100,000 800,000 1,000,000 900,000 700,000 400,000 2,000,000 5,000,000 1,000,000 1,500,000 262,000 1,200,000 2,300,000
ALLIANZ SE 5.50 12-XX 26/09S BBVA REGS 5.75 07-17 20/07S BK OF NOVA SCOTIA 1.875 16-21 26/04A DOMINION GAS HLDGS 2.80 15-20 15/11S EBAY 3.80 16-22 09/03S ECOPETROL SA 5.375 15-26 26/06S EXELON CORP 2.45 16-21 15/04S FORD MOTOR CREDIT 2.551 15-18 05/10S ING REGS FL.R 16-19 22/03Q MEAD JOHNSON NUTRI 3.00 15-20 15/11S NATIONAL BK AUSTRALIA 2.25 16-21 16/03S PRUDENTIAL FINANCIAL 7.75 11-XX 23/06Q RELIANCE HLDGS REGS 5.40 12-22 14/02S SOUTHERN POWER 1.85 15-17 12/01S
Floating rate bonds 700,000 1,050,000 833,000 420,000 4,300,000 1,500,000 300,000 1,700,000 2,500,000 330,000 650,000 2,650,000 1,000,000 1,000,000 1,000,000 2,000,000 500,000 1,000,000 1,800,000 1,000,000 1,100,000
Market value
Cost
Euro
ABN AMRO FL.R 15-XX 22/03S AMERICAN INTL GROUP FL.R 07-67 15/03A AXA EMTN PERP. SUB FL.R 06-XX 06/07A BAYER SUB FL.R 14-75 01/07A BFCM FL.R 16-20 03/06Q BNP PARIBAS FL.R 08-XX 02/07A BNP PARIBAS SUB FL.R 15-XX 17/06S BNP PARIBAS SUB FL.R 07-XX 13/04A BPCE GP FL.R 07-XX 30/10A CASA TIER 1 EUR FL.R 14-49 08/04Q DANSKE BANK A/S FL.R 14-XX 06/04S DANSKE BANK SUB FL.R 07-XX 15/05A DONG ENERGY A/S FL.R 13-13 08/07A DT ANNINGTON FI SUB FL.R 14-XX 17/12A EDF SA FL.R 14-XX 22/01A ELM BV/SWISS LIFE-EMTN-FL.R 07-XX 12/04A ENBW ENERGIE FL.R 14-76 02/04A ENGIE FL.R 13-18 10/07A FEDEX CORP FL.R 16-19 11/04Q GAS NAT FENOSA REGS FL.R 14-XX 30/11A GOLDMAN SACHS GROUP FL.R 15-18 11/09Q
The accompanying notes are an integral part of these financial statements.
Page 97
UBAM - GLOBAL CREDIT OPPORTUNITIES Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
1,000,000 1,500,000 650,000 1,000,000 1,500,000 400,000 1,000,000 910,000 900,000 2,500,000 330,000 1,000,000 300,000 1,000,000 2,000,000 520,000 500,000 1,000,000
IBERDROLA INTL FL.R 13-XX 27/02A KBC GROEP SUB FL.R 14-XX 19/03Q MERCK KGAA SUB FL.R 14-74 12/12A MUNICH RE FL.R 12-42 26/05A NATIXIS PERPETUAL FL.R 07-49 18/10A ORANGE EMTN FL.R 14-XX 01/10A ORANGE SA SUB FL.R 14-XX 07/02A RABOBANK NEDERLAND FL.R 15-XX 31/12S SES FL.R 16-XX 02/01A SOCIETE GENERALE FL.R 07-17 19/12A SOCIETE GENERALE REGS FL.R 14-XX 07/04S SOLVAY FIN SUB FL.R 13-XX 12/05A SUEZ FL.R 15-XX 30/03A TELE EUR REGS SUB FL.R 14-XX 31/03A UBS CAPITAL FL.R 07-XX 29/12A UBS GROUP SUB FL.R 15-XX 19/02A VATTENFALL AB FL.R 15-77 19/03A VW INTL FIN SUB FL.R 14-XX 24/03A
Pound Sterling
800,000 RABOBK.CAP FD IV REGS FL.R 04-XX 31/12A
Swiss Franc
600,000 SWISS LIFE AG 1,500,000 1,500,000 600,000 867,000 300,000 200,000 3,120,000 1,450,000 2,450,000 300,000 750,000 1,100,000 820,000 500,000 1,200,000 950,000 650,000 520,000 1,200,000
FL.R 16-46 24/09A
US Dollar
AXA - BONDS 2006 FL.R 06-49 14/12S BARCLAYS BANK PLC REGS SUB FL.R 07-25/09S BBVA FL.R 13-XX 09/05Q BBVA INTL PRED SA FL.R 07-XX 18/04S BNP PAR FL.R 15-XX 19/08S CLOVERIE PLC (SWISS R FL.R 14-44 11/09A CREDIT AGRICOLE REGS FL.R 09-XX 13/10S CREDIT AGRICOLE SUB FL.R 14-XX 23/12Q CREDIT SUISSE GUERNSEY FL.R 07-15/05S DEMETER (SWISS RE) FL.R 15-50 15/08A DOMINION RESOURCES FL.R 14-54 01/10S GENERAL ELECTRIC CO FL.R 16-XX XX.XXS ING GROEP SUB FL.R 15-XX 30/04S ING GROUP CV SUB FL.R 15-XX 16/10S LLOYDS BANK FL.R 11-21 16/12A NORDEA BK REGS SUB FL.R 14-XX 23/03S SOCIETE GENERALE SUB FL.R 13-XX 31/12S UBS GROUP REGS FL.R 15-XX 19/02A UBS GROUP SUB FL.R 16-XX 16/03A
Other transferable securities Bonds Euro
150,000 MOLSON COORS
1.25 16-24 15/07A
Floating rate bonds US Dollar
600,000 DEMETER INVEST BV
FL.R 16-52 15/08A
Total investments in securities
Cost
Market value
Unaudited accrued Interest
% of total net assets
1,058,750.64 1,480,600.82 648,581.45 1,216,820.79 1,642,500.00 422,737.00 1,054,220.39 901,758.52 896,994.00 2,782,542.33 338,662.52 1,031,126.24 300,375.00 1,017,500.78 2,250,000.00 540,637.88 411,500.97 1,018,077.24
1,069,470.00 1,423,290.00 662,070.50 1,207,160.00 1,583,460.00 416,340.00 1,049,160.00 870,697.10 894,546.00 2,688,800.00 312,955.50 1,017,830.00 302,805.00 1,011,010.00 2,165,600.00 525,101.20 411,135.00 1,019,340.00
19,480.87 2,522.08 841.44 5,993.15 66,171.80 11,934.43 16,721.31 137.12 2,280.82 92,746.31 5,112.30 5,637.01 1,890.41 12,465.75 7,054.03 10,783.61 4,273.00 10,169.00
0.74 0.98 0.46 0.83 1.09 0.29 0.72 0.60 0.62 1.87 0.22 0.70 0.21 0.70 1.50 0.36 0.28 0.70
1,072,591.46 1,072,591.46
990,371.22 990,371.22
26,595.94 26,595.94
0.68 0.68
553,888.76 553,888.76
598,275.89 598,275.89
6,467.71 6,467.71
0.41 0.41
18,387,273.79 1,417,860.13 1,334,903.02 577,731.51 709,294.44 273,315.83 172,516.36 3,266,657.30 1,227,512.29 2,183,124.95 269,070.61 677,115.01 915,241.84 743,562.67 420,535.94 1,184,500.34 857,858.41 620,999.68 487,617.21 1,047,856.25
18,294,907.14 1,409,158.82 1,388,122.78 540,445.56 776,187.22 264,659.97 177,775.78 3,151,931.59 1,190,371.75 2,239,987.40 279,911.79 678,223.59 1,053,760.30 691,156.03 412,579.32 1,116,644.32 816,669.07 581,153.07 466,481.12 1,059,687.66
249,512.59 3,878.37 4,182.23 6,886.00 9,238.53 7,246.99 6,503.44 50,307.55 1,681.34 16,153.97 9,790.79 9,596.71 2,062.80 9,103.32 6,013.38 57,480.83 12,672.46 4,156.54 12,135.63 20,421.71
12.64 0.97 0.96 0.37 0.54 0.18 0.12 2.19 0.82 1.55 0.19 0.47 0.73 0.48 0.29 0.77 0.56 0.40 0.32 0.73
695,912.60
702,282.34
2,418.65
0.49
149,625.00
150,651.75
0.00
0.10
149,625.00 149,625.00
150,651.75 150,651.75
0.00 0.00
0.10 0.10
546,287.60
551,630.59
2,418.65
0.39
546,287.60 546,287.60
551,630.59 551,630.59
2,418.65 2,418.65
0.39 0.39
120,416,907.02
119,655,002.90
82.66
17,430,517.89
12.04
7,672,742.14
5.30
144,758,262.93
100.00
Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 98
UBAM - GLOBAL CREDIT OPPORTUNITIES
Geographical classification of investments (by domicile of the issuer) France United States of America The Netherlands Germany Portugal United Kingdom Luxembourg Spain Denmark Italy Switzerland Mexico Guernsey Jersey Island Belgium Australia Sweden Canada Colombia Ireland
% of net assets 20.71 15.59 10.47 4.51 3.86 3.86 3.71 3.71 3.05 2.36 1.82 1.79 1.55 1.50 1.33 0.96 0.84 0.50 0.42 0.12 82.66
Page 99
UBAM - GLOBAL CREDIT OPPORTUNITIES
Industrial classification of investments % of net assets 39.00 12.73 6.08 4.47 4.14 3.40 2.35 1.87 1.61 1.47 1.25 1.12 1.02 0.60 0.59 0.46 0.29 0.21
Banks and credit institutions Holding and finance companies Countries and central government Insurance Utilities Communications Real estate companies Petroleum Foods and non alcoholic drinks Electrical engineering and electronics Transportation Building materials and trade Road vehicles Tobacco and alcoholic drinks Retail trade, department stores Pharmaceuticals and cosmetics Chemicals Miscellaneous services
82.66
Page 100
UBAM - GLOBAL CREDIT OPPORTUNITIES Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
2,552,435.80
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
2,318,190.58 807.73 233,432.53 4.96 880,664.38
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Performance fees Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Interest paid on swap contracts Other expenses
Note 3 Note 5 Note 4
Note 2 Note 6, 7 Note 2
Net investment income
470,020.63 71,391.54 31,465.11 70,354.54 5,027.04 1,472.04 5,247.05 3,101.39 10,037.22 89,204.79 118,397.78 4,945.25 1,671,771.42
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-1,669,294.57 82,654.85 -267,565.40 -178,337.29 1,346,664.45 205,006.99 1,190,900.45
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
-1,378,613.53 383,190.53 -559,713.16 -840,092.24 -1,204,327.95
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-58,522.48 43,944,149.97 1,803,953.69 -17,325,164.99 -673,120.43 26,486,967.81
Total net assets at the beginning of the period
118,271,295.12
Total net assets at the end of the period
144,758,262.93
The accompanying notes are an integral part of these financial statements.
Page 101
UBAM - GLOBAL HIGH YIELD SOLUTION
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
4,325,733,525.59
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Unrealised gain on swap contracts Receivable on swap contracts Other receivables
Note 2
3,980,166,743.95 13,464,725.26 65,038,188.88 182,612.15 5,866,557.40 12,770,453.51 92,904,782.78 154,544,189.44 564,022.22 231,250.00
Note 2
Note 2, 10
Liabilities
343,994,066.13
Bank liabilities Other liquid liabilities Payable on purchases of securities Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Unrealised loss on futures contracts Payable on swap contracts Interest payable on bank liabilities and expenses payable
15,752,084.59 130,988,944.16 101,447,931.77 7,350,066.46 82,518,253.60 7,093.75 1,850,671.20 4,079,020.60
Note 2, 8 Note 2, 9
Net assets at the end of the period
3,981,739,459.46
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares Distribution shares
AH GBP shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares Distribution shares
Shares outstanding as at 01/01/2016
Shares issued
4,658,185.051
1,623,011.283
821,382.409
5,459,813.925
814,375.823
437,357.112
361,844.141
889,888.794
1,341,577.574
375,608.357
425,691.616
1,291,494.315
176,198.261
152,803.915
34,488.748
294,513.428
295,539.211
57,341.520
77,044.264
275,836.467
52,023.244
36,916.307
12,091.000
76,848.551
70,077.879
15,626.721
30,976.151
54,728.449
0.000
8,945.917
0.000
8,945.917
7,068,011.758
4,409,618.959
6,258,904.416
5,218,726.301
462,553.474
399,019.442
321,207.818
540,365.098
The accompanying notes are an integral part of these financial statements.
Page 102
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL HIGH YIELD SOLUTION Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
4,415,496.997
2,269,463.893
3,021,172.966
3,663,787.924
229,537.975
238,501.811
76,402.294
391,637.492
1,878,678.398
1,770,203.110
2,935,275.272
713,606.236
84,240.182
48,453.396
6,159.000
126,534.578
31,729.343
8,803.265
4,001.854
36,530.754
256,849.409
68,463.487
199,182.889
126,130.007
1,281,174.490
292,661.570
133,563.750
1,440,272.310
Capitalisation shares
37,693.634
221,956.808
18,254.572
241,395.870
Distribution shares
47,925.252
323,923.267
140,040.928
231,807.591
Capitalisation shares
962,478.902
129,401.563
87,088.543
1,004,791.922
Distribution shares
668,440.136
38,234.097
48,036.000
658,638.233
13,819.827
36,910.951
15.754
50,715.024
7,330.148
10,018.958
107.503
17,241.603
15.000
1,831.111
0.000
1,846.111
2,432,021.823
637,535.338
458,298.455
2,611,258.706
Capitalisation shares
33,758.492
25,909.638
6,845.675
52,822.455
Distribution shares
78,736.839
313,386.769
40,442.891
351,680.717
14,923.325
2,920.911
3,271.406
14,572.830
45,243.747
18,000.216
8,941.842
54,302.121
9,419.494
191.670
1,557.037
8,054.127
0.000
9,940.000
0.000
9,940.000
0.000
1,150.000
0.000
1,150.000
1,850,775.935
355,685.995
113,276.850
2,093,185.080
357,167.967
0.000
171,500.000
185,667.967
IH EUR shares
Capitalisation shares Distribution shares
IH CHF shares
Capitalisation shares Distribution shares
IH SEK shares
Capitalisation shares
IH GBP shares
Capitalisation shares Distribution shares
U shares
UH EUR shares
UH CHF shares
Capitalisation shares Distribution shares
UH GBP shares
Capitalisation shares Distribution shares
R shares
RH EUR shares
Capitalisation shares
V shares
Distribution shares
VH EUR shares
Capitalisation shares Distribution shares
VH GBP shares
Capitalisation shares Distribution shares
Z shares
Capitalisation shares
The accompanying notes are an integral part of these financial statements.
Page 103
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL HIGH YIELD SOLUTION Key figures relating to the last 3 years 30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
3,981,739,459.46
4,231,656,691.07
1,607,354,974.56
USD
USD
USD
5,459,813.925 149.13
4,658,185.051 143.81
3,427,267.344 141.63
889,888.794 108.65 5.58
814,375.823 110.17 5.93
340,393.074 114.25 7.04
EUR
EUR
EUR
1,291,494.315 145.23
1,341,577.574 140.83
1,125,966.159 139.29
294,513.428 107.89 5.58
176,198.261 110.04 5.95
148,582.343 114.61 7.08
CHF
CHF
CHF
275,836.467 140.49
295,539.211 136.58
177,563.801 136.82
76,848.551 111.90 5.80
52,023.244 114.43 6.27
29,212.920 120.76 7.47
GBP
GBP
GBP
54,728.449 116.98
70,077.879 113.25
44,479.183 111.40
8,945.917 101.11
-
-
USD
USD
USD
5,218,726.301 150.76
7,068,011.758 145.24
3,553,477.082 142.77
540,365.098 100.49 5.32
462,553.474 101.95 5.48
10,243.000 105.53 6.49
Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
The accompanying notes are an integral part of these financial statements.
Page 104
UBAM - GLOBAL HIGH YIELD SOLUTION Key figures relating to the last 3 years 30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
3,981,739,459.46
4,231,656,691.07
1,607,354,974.56
EUR
EUR
EUR
3,663,787.924 146.80
4,415,496.997 142.22
1,358,743.354 140.40
391,637.492 107.11 5.70
229,537.975 109.30 5.90
82,456.763 113.62 7.00
CHF
CHF
CHF
713,606.236 142.01
1,878,678.398 137.93
355,459.983 137.91
126,534.578 92.97 4.96
84,240.182 95.12 5.20
3,091.000 100.19 -
SEK
SEK
SEK
36,530.754 1,059.92
31,729.343 1,028.60
150.000 1,017.58
GBP
GBP
GBP
126,130.007 117.60
256,849.409 113.74
23,586.000 111.67
1,440,272.310 109.37 5.81
1,281,174.490 111.41 5.98
45,047.000 115.18 7.08
USD
USD
USD
241,395.870 102.21
37,693.634 98.50
-
231,807.591 96.86 5.13
47,925.252 98.29 -
-
EUR
EUR
EUR
1,004,791.922 103.96
962,478.902 100.74
1.000 99.49
658,638.233 93.64 4.99
668,440.136 95.58 5.16
1.000 99.43 -
Period/Year ended as at:
Total net assets IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH SEK shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
The accompanying notes are an integral part of these financial statements.
Page 105
UBAM - GLOBAL HIGH YIELD SOLUTION Key figures relating to the last 3 years 30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
3,981,739,459.46
4,231,656,691.07
1,607,354,974.56
CHF
CHF
CHF
50,715.024 103.55
13,819.827 100.60
-
17,241.603 98.29 5.25
7,330.148 100.59 -
-
GBP
GBP
GBP
1,846.111 102.28
15.000 98.95
-
2,611,258.706 98.52 5.24
2,432,021.823 100.38 -
-
USD
USD
USD
52,822.455 146.67
33,758.492 141.65
16,537.648 139.92
351,680.717 98.80 4.77
78,736.839 100.05 -
-
EUR
EUR
EUR
14,572.830 118.54
14,923.325 115.12
11,624.418 114.20
USD
USD
USD
54,302.121 103.53
45,243.747 99.71
-
EUR
EUR
EUR
8,054.127 102.84
9,419.494 99.60
-
9,940.000 101.37
-
-
Period/Year ended as at:
Total net assets UH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
RH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
V shares Distribution shares Number of shares outstanding Net asset value per share
VH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
The accompanying notes are an integral part of these financial statements.
Page 106
UBAM - GLOBAL HIGH YIELD SOLUTION Key figures relating to the last 3 years 30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
3,981,739,459.46
4,231,656,691.07
1,607,354,974.56
GBP
GBP
GBP
1,150.000 100.26
-
-
2,093,185.080 97.84 5.20
1,850,775.935 99.64 -
-
USD
USD
USD
185,667.967 126.67
357,167.967 121.88
172,124.000 119.51
Period/Year ended as at:
Total net assets VH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
Z shares Capitalisation shares Number of shares outstanding Net asset value per share
The accompanying notes are an integral part of these financial statements.
Page 107
UBAM - GLOBAL HIGH YIELD SOLUTION Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
25,000,000 25,000,000 25,000,000 10,000,000 10,000,000 25,000,000 9,990,000 20,000,000 10,000,000 20,000,000 20,000,000 9,000,000 19,000,000 5,000,000 13,500,000 5,000,000 25,000,000 20,000,000 7,000,000 50,000,000 45,000,000 50,000,000 50,000,000 50,000,000 55,000,000 50,000,000 40,000,000 65,000,000 50,000,000 105,000,000 35,000,000 50,000,000 50,000,000 40,000,000 30,000,000 50,000,000 50,000,000 40,000,000 20,000,000 40,000,000 35,300,000 40,000,000 60,000,000 154,900,000 75,000,000 50,000,000 31,400,000 90,000,000 35,000,000 40,000,000 91,000,000 40,000,000 45,000,000 50,000,000 50,000,000 75,000,000 45,000,000 95,000,000 50,000,000 45,000,000 69,700,000 50,000,000
Market value
Unaudited accrued Interest
% of total net assets
3,973,913,796.55
3,980,166,743.95
12,770,453.51
99.96
3,923,903,146.55
3,930,126,143.95
12,690,180.27
98.70
3,923,903,146.55 24,900,513.21 25,023,750.00 24,820,750.75 10,021,000.10 10,638,000.00 24,897,500.00 9,981,561.00 20,018,000.00 10,714,000.40 20,076,000.00 19,968,000.00 8,971,110.00 18,955,730.00 5,613,450.00 13,499,270.00 4,972,100.00 24,952,500.00 20,062,000.00 6,996,500.00 50,855,469.50 45,733,008.60 50,339,844.33 50,525,390.50 50,087,890.50 54,914,062.50 50,230,469.00 42,956,250.00 70,692,968.85 50,712,890.50 105,027,734.70 35,363,234.45 49,830,078.00 50,606,445.25 40,046,875.60 30,049,218.75 49,683,594.75 49,771,381.48 40,146,875.00 19,955,040.92 40,032,812.40 35,330,220.98 40,148,437.60 60,097,969.62 154,771,475.79 74,726,952.75 50,000,390.45 31,457,648.52 90,111,718.90 35,150,390.80 40,104,688.00 91,612,187.43 40,123,437.60 44,855,859.60 50,242,188.04 49,968,750.52 75,267,774.21 45,079,493.15 94,895,117.20 49,777,344.00 45,083,202.90 69,897,889.17 50,030,664.20
3,930,126,143.95 25,252,500.00 25,104,000.00 25,169,000.00 10,076,900.00 10,145,500.00 25,080,000.00 9,987,102.90 20,003,600.00 10,604,200.00 20,011,400.00 20,101,000.00 9,121,410.00 19,033,440.00 5,074,150.00 13,557,780.00 5,011,400.00 25,208,000.00 20,115,600.00 7,010,640.00 51,095,703.00 45,961,523.55 50,804,687.50 50,718,750.00 50,445,312.50 55,068,750.00 50,146,484.50 42,954,687.60 69,778,515.95 50,052,734.50 105,262,500.00 35,542,773.35 49,992,187.50 50,800,781.50 40,571,875.20 30,033,984.30 50,048,828.00 50,144,531.50 40,076,562.40 20,095,312.60 40,050,000.00 35,542,687.50 40,084,375.20 60,431,250.00 155,402,215.23 75,222,656.25 50,162,109.50 31,645,312.50 90,326,952.90 35,366,406.25 40,018,750.00 91,117,304.46 40,151,562.40 45,254,882.70 50,195,312.50 50,414,062.50 75,418,945.50 45,379,687.50 95,397,100.00 50,283,203.00 45,198,632.70 70,146,515.63 50,019,531.50
12,690,180.27 309,375.00 31,250.00 52,951.39 57,673.61 347,083.33 107,812.50 26,015.63 37,500.00 127,604.17 42,291.67 102,500.00 61,875.00 35,559.03 36,111.11 59,296.88 17,500.00 296,006.94 113,888.89 8,750.00 249,324.32 280,013.74 103,600.54 78,767.12 146,174.86 86,407.10 147,836.54 187,500.00 971,428.57 311,126.37 0.00 0.00 103,142.08 285,199.18 82,880.43 0.00 26,324.73 0.00 137,637.36 79,849.73 92,896.17 131,169.40 87,704.92 174,456.52 281,443.99 116,803.28 54,687.50 39,464.48 32,274.59 16,137.30 92,896.17 231,518.34 160,576.92 180,649.04 162,568.31 185,792.35 218,070.65 131,917.81 172,609.29 91,095.89 49,623.29 28,565.57 83,108.11
98.70 0.63 0.63 0.63 0.25 0.25 0.63 0.25 0.50 0.27 0.50 0.50 0.23 0.48 0.13 0.34 0.13 0.63 0.51 0.18 1.28 1.15 1.28 1.27 1.27 1.38 1.26 1.08 1.75 1.26 2.64 0.89 1.26 1.28 1.02 0.75 1.26 1.26 1.01 0.50 1.01 0.89 1.01 1.52 3.90 1.89 1.26 0.79 2.27 0.89 1.01 2.29 1.01 1.14 1.26 1.27 1.89 1.14 2.40 1.26 1.14 1.76 1.26
Cost
US Dollar
AFD REGS S.68 1.375 15-18 06/08A BIRD 1.00 15-17 15/11S BNG 1.25 15-18 29/10S CADES 1.375 13-18 29/01S CADES 5.25 06-16 02/11A EAA 1.125 15-18 12/02S FMS WERTMANAGEMENT 0.625 14-17 30/01S INTER-AM.DEV.BK 483 0.625 14-16 12/09S KFW 4.375 08-18 15/03S KOMMUNALBANKEN AS 0.875 13-16 03/10S KOMMUNEKREDIT REGS 1.125 15-18 16/01A KOMMUNEKREDIT REGS 1.50 16-19 15/01A KRED.ANST.WIEDERAUFB. 0.875 16-18 19/04S LANDW RENTENBANK 5.00 06-16 08/11S LDBK BADEN WUERTT 1.375 15-18 05/03A NETHERLANDS 1.00 12-17 24/02S NRW.BANK 1.375 15-18 20/08Q NWB REGS 1401 1.25 15-18 16/01S SWEDEN 1.00 13-16 15/11S US TREAS N/B V-2019 1.50 14-19 28/02S US TREAS U-2019 1.50 14-19 31/01S US TREASURY BONDS 1.25 12-19 30/04S US TREASURY N/B 1.25 15-18 15/11S US TREASURY NOTE 1.00 16-19 15/03S US TREASURY NOTES 0.625 12-17 30/09S US TREASURY NOTES 0.875 12-17 28/02S US TREASURY NOTES 3.75 08-18 15/11S US TREASURY NOTES 4.00 08-18 15/08S US TREASURY NOTES Series AA-2016 1.50 11-16 31/07S US TREASURY NOTES Series AA-2017 0.75 12-17 30/06S US TREASURY NOTES Series AA-2018 1.375 13-18 30/06S US TREASURY NOTES Series AB-2017 0.50 12-17 31/07S US TREASURY NOTES Series AB-2018 1.375 13-18 31/07S US TREASURY NOTES Series AE-2018 1.25 13-18 31/10S US TREASURY NOTES Series AF-2017 0.625 14-16 31/12S US TREASURY NOTES Series AF-2017 0.625 12-17 30/11S US TREASURY NOTES Series AG-2017 0.75 12-17 31/12S US TREASURY NOTES Series AH-2017 0.75 14-17 15/01S US TREASURY NOTES Series AH-2018 0.875 15-18 15/01S US TREASURY NOTES Series AJ-2017 0.625 14-17 15/02S US TREASURY NOTES Series AJ-2018 1.00 15-18 15/02S US TREASURY NOTES Series AK-2017 0.75 14-17 15/03S US TREASURY NOTES Series AK-2018 1.00 15-18 15/03S US TREASURY NOTES Series AL-2017 0.875 14-17 15/04S US TREASURY NOTES Series AL-2018 0.75 15-18 15/04S US TREASURY NOTES Series AM-2017 0.875 14-17 15/05S US TREASURY NOTES Series AM-2018 1.00 15-18 15/05S US TREASURY NOTES Series AN-2017 0.875 14-17 15/06S US TREASURY NOTES Series AN-2018 1.125 15-18 15/06S US TREASURY NOTES Series AP-2016 0.625 13-16 15/08S US TREASURY NOTES Series AP-2016 0.875 13-16 15/09S US TREASURY NOTES Series AP-2017 0.875 14-17 15/07S US TREASURY NOTES Series AP-2018 0.875 15-18 15/07S US TREASURY NOTES Series AQ-2017 0.875 14-17 15/08S US TREASURY NOTES Series AQ-2018 1.00 15-18 15/08S US TREASURY NOTES Series AR-2017 1.00 14-17 15/09S US TREASURY NOTES Series AR-2018 1.00 15-18 15/09S US TREASURY NOTES Series AS-2017 0.875 14-17 15/10S US TREASURY NOTES Series AS-2018 0.875 15-18 15/10S US TREASURY NOTES Series AT-2017 0.875 14-17 15/11S US TREASURY NOTES Series AU-2017 1.00 14-17 15/12S US TREASURY NOTES Series BE-2016 0.50 14-16 31/08S
The accompanying notes are an integral part of these financial statements.
Page 108
UBAM - GLOBAL HIGH YIELD SOLUTION Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
90,000,000 25,000,000 40,000,000 50,000,000 45,000,000 50,000,000 40,000,000 25,000,000 45,000,000 80,000,000 50,000,000 68,000,000 50,000,000 50,000,000 10,000,000 45,000,000 50,000,000 50,000,000 50,000,000 30,000,000 30,000,000 25,000,000 50,000,000 40,000,000 50,000,000 50,000,000 25,000,000 40,000,000
Market value
Unaudited accrued Interest
% of total net assets
90,134,552.62 24,979,003.87 42,312,500.00 52,579,298.40 47,237,695.20 52,154,297.00 41,296,874.80 25,818,033.92 45,736,328.10 81,495,118.14 51,308,985.09 68,338,874.43 50,174,804.75 49,980,468.90 9,980,469.50 44,759,180.25 49,978,515.50 50,224,610.00 50,136,719.50 30,130,079.10 30,285,937.50 25,087,239.83 50,697,266.00 40,596,876.00 51,125,000.59 50,238,282.18 25,017,578.25 40,721,484.66
90,063,281.70 25,006,836.00 41,046,875.20 52,736,328.00 46,457,226.45 51,041,015.50 40,787,500.00 25,857,422.00 45,870,117.30 81,331,250.40 51,191,406.50 68,193,906.08 50,160,156.50 50,404,297.00 10,027,343.80 45,107,226.45 50,148,437.50 50,259,765.50 50,115,234.50 30,351,562.50 30,454,687.50 25,364,257.75 50,933,594.00 40,842,187.60 51,154,297.00 50,263,672.00 25,442,382.75 41,020,312.40
113,114.75 15,667.81 691,208.79 513,736.26 487,346.31 406,250.00 0.00 232,069.67 223,777.17 377,049.18 94,769.02 246,826.92 72,520.38 40,983.61 12,432.07 125,409.84 93,237.70 54,687.00 82,880.43 153,995.90 155,563.19 25,614.75 232,314.56 0.00 65,524.00 19,125.00 28,176.23 161,612.02
2.26 0.63 1.03 1.32 1.17 1.28 1.02 0.65 1.15 2.04 1.29 1.71 1.26 1.27 0.25 1.13 1.26 1.26 1.26 0.76 0.76 0.64 1.28 1.03 1.28 1.26 0.64 1.03
50,010,650.00
50,040,600.00
80,273.24
1.26
50,010,650.00 10,012,300.00 35,000,000.00 4,998,350.00
50,040,600.00 10,013,400.00 35,024,850.00 5,002,350.00
80,273.24 16,351.13 61,948.10 1,974.01
1.26 0.25 0.88 0.13
3,973,913,796.55
3,980,166,743.95
99.96
49,286,104.29
1.24
-47,713,388.78
-1.20
3,981,739,459.46
100.00
Cost
US TREASURY NOTES Series BF-2016 0.50 14-16 30/09S US TREASURY NOTES Series BG-2016 0.375 14-16 31/10S US TREASURY NOTES Series B-2017 4.625 07-17 15/02S US TREASURY NOTES Series B-2019 2.75 09-19 15/02S US TREASURY NOTES Series G-2018 2.625 11-18 31/01S US TREASURY NOTES Series J-2017 3.25 10-17 31/03S US TREASURY NOTES Series M-2017 2.50 10-17 30/06S US TREASURY NOTES Series N-2018 2.25 11-18 31/07S US TREASURY NOTES Series P-2018 1.50 11-18 31/08S US TREASURY NOTES Series Q-2017 1.875 10-17 30/09S US TREASURY NOTES Series S-2017 2.25 10-17 30/11S US TREASURY NOTES Series U-2017 0.875 12-17 31/01S US TREASURY NOTES Series Y-2017 0.875 12-17 30/04S US TREASURY NOTES Series Z-2018 1.00 13-18 31/05S USA T NOTES 0.75 12-17 31/10S USA T NOTES 0.75 16-19 15/02S USA T NOTES 0.750 13-18 31/03S USA T NOTES 0.875 16-19 15/05S USA T NOTES 1.00 11-16 31/10S USA T NOTES 1.125 16-19 15/01S USA T NOTES 1.25 12-19 31/01S USA T NOTES 1.25 13-18 30/11S USA T NOTES 1.375 12-19 28/02S USA T NOTES 1.50 13-18 31/12S USA T-NOTES 1.50 14-19 31/05S USA TREASURY NOTES 0.875 15-19 15/06S USA TREASURY NOTES 1.375 11-18 30/11S USA TREASURY NOTES 1.625 14-19 31/03S
Floating rate bonds US Dollar
10,000,000 NORTH RHINE W FL.R 13-17 28/04Q 35,000,000 NRW BANK EMTN FL.R 13-17 16/10Q 5,000,000 SWEDISH EXPORT CREDIT FL.R 13-17 12/06Q
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 109
UBAM - GLOBAL HIGH YIELD SOLUTION
Geographical classification of investments (by domicile of the issuer) United States of America Germany The Netherlands France Denmark Norway Sweden
% of net assets 92.16 3.86 1.27 1.13 0.73 0.50 0.31 99.96
Industrial classification of investments % of net assets 91.34 5.13 2.11 1.13 0.25
Countries and central government Banks and credit institutions State Supranational Cantons, Federal States, Provinces
99.96
Page 110
UBAM - GLOBAL HIGH YIELD SOLUTION Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
149,147,762.61
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
23,816,283.43 85,936.20 125,245,410.92 132.06 23,103,781.06
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
6,001,853.47 3,242,196.24 624,277.66 2,148,271.42 41,423.86 33,113.15 39,760.92 305,857.22 17,707.00 2,287.06 10,513,453.68 133,579.38 126,043,981.55
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-496,900.05 486,530.99 23,695,751.17 -1,492,921.84 11,258,947.16 -2,958,177.57 156,537,211.41
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
23,987,315.69 -68,960,846.90 12,046.88 12,501,849.90 124,077,576.98
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-66,682,441.67 1,617,790,030.98 403,097,315.76 -2,114,680,159.78 -213,519,553.88 -249,917,231.61
Total net assets at the beginning of the period
4,231,656,691.07
Total net assets at the end of the period
3,981,739,459.46
The accompanying notes are an integral part of these financial statements.
Page 111
UBAM - LOCAL CURRENCY EMERGING MARKET BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
25,278,703.90
Securities portfolio at market value Cash at banks Interest receivable on bonds and other debt securities Other receivables
Note 2
24,464,276.76 320,926.15 421,571.25 71,929.74
Liabilities
243,763.04
Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
Note 2, 8
136,795.36 106,967.68
Net assets at the end of the period
25,034,940.86
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares
I shares
Capitalisation shares
IH EUR shares
Capitalisation shares
IH CHF shares
Capitalisation shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
158,331.964
774.000
23,569.334
135,536.630
8,315.031
0.000
3,783.031
4,532.000
88,230.003
3,505.000
10,749.300
80,985.703
7,239.893
31.000
84.000
7,186.893
4,000.000
4.000
0.000
4,004.000
64,381.016
4,677.608
48,042.624
21,016.000
12,676.268
0.000
10,875.268
1,801.000
5,565.761
0.000
98.000
5,467.761
1.000
6.573
6.573
1.000
The accompanying notes are an integral part of these financial statements.
Page 112
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - LOCAL CURRENCY EMERGING MARKET BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
25,034,940.86
30,588,129.43
61,571,842.21
USD
USD
USD
135,536.630 103.64
158,331.964 92.95
331,186.256 111.60
4,532.000 70.33 2.42
8,315.031 65.29 3.79
12,939.758 82.29 3.74
EUR
EUR
EUR
80,985.703 75.52
88,230.003 68.37
142,954.239 82.84
7,186.893 52.51 1.82
7,239.893 49.22 2.88
11,085.405 62.60 2.86
CHF
CHF
CHF
4,004.000 89.24
4,000.000 80.93
4,150.000 99.17
USD
USD
USD
21,016.000 114.24
64,381.016 101.98
37,701.000 121.31
-
5.13
1,670.000 111.46 5.02
EUR
EUR
EUR
1,801.000 83.26
12,676.268 75.02
22,919.571 90.04
CHF
CHF
CHF
5,467.761 92.88
5,565.761 83.83
6,357.761 101.76
USD
USD
USD
1.000 101.33
1.000 91.06
486.000 110.17
The accompanying notes are an integral part of these financial statements.
Page 113
UBAM - LOCAL CURRENCY EMERGING MARKET BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets RH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
25,034,940.86
30,588,129.43
61,571,842.21
EUR
EUR
EUR
-
-
10.000 89.62
The accompanying notes are an integral part of these financial statements.
Page 114
UBAM - LOCAL CURRENCY EMERGING MARKET BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
% of total net assets
30,931,589.47
24,464,276.76
421,571.25
97.72
30,931,589.47
24,464,276.76
421,571.25
97.72
3,257,071.02 542,138.87 766,400.59 329,063.75 281,761.51 720,987.39 616,718.91
2,936,711.42 664,972.07 524,650.26 256,162.56 260,429.94 739,309.88 491,186.71
0.00 0.00 0.00 0.00 0.00 0.00 0.00
11.73 2.66 2.10 1.02 1.04 2.95 1.96
Columbian Peso
2,628,366.85 604,704.52 481,512.95 647,084.95 895,064.43
1,659,604.98 399,161.17 301,557.20 393,547.56 565,339.05
77,304.45 32,209.91 3,560.04 35,334.09 6,200.41
6.63 1.59 1.20 1.57 2.27
Hungarian Forint
1,401,268.11 127,010.83 335,750.02 307,379.77 319,163.11 110,309.76 201,654.62
1,224,878.62 111,143.99 301,761.37 264,172.24 259,927.99 105,362.96 182,510.07
19,634.69 3,285.05 11,661.23 242.98 244.42 79.55 4,121.46
4.89 0.44 1.20 1.06 1.04 0.42 0.73
Indonesian Rupiah
3,022,617.86 531,708.17 335,735.66 272,387.81 934,632.88 140,084.52 170,138.29 254,039.44 192,819.82 191,071.27
2,624,485.47 478,580.11 264,304.62 249,900.16 830,104.03 111,354.77 160,778.04 239,148.52 118,167.64 172,147.58
57,458.00 3,725.17 3,437.92 2,319.06 31,338.43 993.38 3,706.23 5,559.35 4,297.10 2,081.36
10.48 1.91 1.06 1.00 3.31 0.44 0.64 0.96 0.47 0.69
Malaysian Ringgit
2,806,527.21 229,024.07 504,190.81 180,074.69 397,969.39 352,479.17 314,653.88 346,097.23 205,655.39 276,382.58
2,337,380.95 250,737.65 380,798.27 174,846.14 318,078.03 258,561.04 244,070.17 256,646.12 153,776.33 299,867.20
23,716.64 1,884.64 6,240.96 1,656.34 4,117.99 2,262.18 2,125.69 944.30 2,840.49 1,644.05
9.34 1.00 1.53 0.70 1.27 1.03 0.97 1.03 0.61 1.20
Mexican Peso
2,791,223.09 461,010.75 268,346.16 142,357.76 258,261.08 104,961.21 54,604.77 174,432.13 339,627.96 402,138.98 262,703.95 322,778.34
2,021,822.27 346,764.68 216,537.74 113,327.06 169,956.45 72,653.99 43,181.31 125,860.91 222,666.33 280,814.16 201,778.88 228,280.76
5,391.45 1,053.94 400.50 274.03 411.04 189.71 114.35 326.72 680.85 770.43 537.51 632.37
8.08 1.40 0.86 0.45 0.68 0.29 0.17 0.50 0.89 1.12 0.81 0.91
New Polish Zloty
3,087,661.21 302,811.72 333,849.43 149,570.04 382,536.10 315,643.26 514,987.38 526,588.96 561,674.32
2,550,801.81 298,289.66 276,393.27 118,748.38 314,308.30 271,506.72 396,406.88 422,946.84 452,201.76
66,673.28 821.63 6,869.60 3,950.02 2,054.08 8,566.20 13,525.57 14,168.54 16,717.64
10.19 1.19 1.10 0.47 1.26 1.08 1.58 1.69 1.82
728,825.90 64,015.77
597,025.57 55,422.70
14,704.77 479.87
2.38 0.22
BRAZIL BRAZIL -DYBRAZIL -DYBRAZIL LFT BRAZIL LTN BRAZIL-DY-
1,000,000,000 1,000,000,000 1,000,000,000 1,650,000,000
COLOMBIA COLOMBIA COLOMBIA B COLOMBIA B
7,000,000,000 3,500,000,000 3,700,000,000 9,500,000,000 1,500,000,000 2,000,000,000 3,000,000,000 1,500,000,000 2,000,000,000
Unaudited accrued Interest
Brazilian Real
2,850 1,800 900 1,000 3,000 1,750
26,000,000 70,000,000 60,000,000 65,000,000 25,000,000 50,000,000
Market value
Cost
0.00 15-19 01/01U 10.00 10-17 28/04S (Note 2.j) 10.00 10-23 01/01S (Note 2.j) 0.00 14-18 01/01U 0.00 14-18 01/07U 10.00 14-25 01/01S (Note 2.j) 10.00 08-24 24/07A 6.00 12-28 28/04A 11.00 05-20 24/07A 7.00 12-22 04/05A
HUNGARY 6.00 07-23 24/11A HUNGARY 20/A 7.50 04-20 12/11A HUNGARY A 7.00 11-22 24/06A HUNGARY -A6.50 08-19 24/06A HUNGARY -B5.50 13-25 24/06A HUNGARY -B6.75 06-17 24/02A INDONESIA 5.625 12-23 15/05S INDONESIA 6.25 11-17 15/04S INDONESIA 6.625 12-33 15/05S INDONESIA FR0054 9.50 10-31 15/07S INDONESIA -FR0061- 7.00 11-22 15/05S INDONESIA FR0068 8.375 13-34 15/03S INDONESIA FR70 8.375 13-24 15/03S INDONESIA SER FR53 8.25 10-21 15/07S INDONESIA S.-FR0031- 11.00 05-20 15/11S
1,000,000 1,500,000 700,000 1,300,000 1,000,000 1,000,000 1,000,000 600,000 1,200,000
MALAYSIA 3.659 15-20 15/10S MALAYSIA 4.24 03-18 07/02S MALAYSIA GOVERNMEN FL.R 15-22 30/09S MALAYSIA S 0112 3.418 12-22 15/08S MALAYSIA S 0311 4.392 11-26 15/04S MALAYSIA S 0412 4.127 12-32 15/04S MALAYSIA S 09/0002 4.378 09-19 29/11S MALAYSIA S 11/0001 4.16 11-21 15/07S MALAYSIA 12/005 3.314 12-17 31/10S
5,000,000 4,000,000 2,000,000 3,000,000 1,200,000 700,000 2,000,000 3,800,000 4,300,000 3,000,000 3,000,000
MEXICO 10.00 04-24 05/12S MEXICO 4.75 13-18 14/06S MEXICO 6.50 11-21 10/06S MEXICO 6.50 11-22 09/06S MEXICO 7.50 06-27 03/06S MEXICO 7.75 11-31 29/04S MEXICO 7.75 11-42 13/11S MEXICO 8.50 08-18 13/12S MEXICO 8.50 09-29 31/05S MEXICO 8.50 09-38 18/11S MEXICO -M 30- 10.00 06-36 20/11S
1,200,000 1,000,000 400,000 1,200,000 950,000 1,500,000 1,500,000 1,500,000
POLAND 1.50 POLAND 4.00 POLAND 5.75 POLAND PS0418 POLAND S1020 POLAND -1017POLAND -1019POLAND -922-
15-20 25/04A 12-23 25/10A 10-21 25/10A 3.75 12-18 25/04A 5.25 09-20 25/10A 5.25 06-17 25/10A 5.50 08-19 25/10A 5.75 01-22 23/09A
New Romanian Leu
200,000 ROMANIA
5.75 13-20 29/04A
The accompanying notes are an integral part of these financial statements.
Page 115
UBAM - LOCAL CURRENCY EMERGING MARKET BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Market value
Unaudited accrued Interest
% of total net assets
337,343.02 327,467.11
282,743.95 258,858.92
760.86 13,464.04
1.13 1.03
573,594.78 437,264.92 136,329.86
480,799.22 357,698.86 123,100.36
12,304.53 9,627.59 2,676.94
1.92 1.43 0.49
Russian Ruble
2,014,517.12 164,235.98 219,900.23 203,211.58 247,064.83 490,028.83 179,206.57 311,910.27 109,677.89 89,280.94
1,571,953.90 164,470.81 234,246.67 126,032.29 143,998.98 307,266.08 227,603.48 135,904.11 156,732.72 75,698.76
34,468.42 4,329.17 6,569.93 3,718.07 4,354.22 952.16 3,471.54 4,459.22 4,684.05 1,930.06
6.28 0.66 0.94 0.50 0.58 1.22 0.91 0.54 0.63 0.30
South African Rand
3,854,717.29 381,587.31 258,267.71 239,701.33 540,330.66 584,010.60 421,600.42 769,947.51 284,430.61 374,841.14
2,368,772.84 245,951.02 170,891.91 128,497.20 336,094.49 308,138.86 281,240.23 494,035.90 204,415.39 199,507.84
47,636.17 5,378.44 5,234.85 2,291.95 9,664.35 604.47 9,060.33 1,149.11 7,457.60 6,795.07
9.46 0.98 0.68 0.51 1.34 1.23 1.12 1.98 0.82 0.80
Thai Bath
1,784,719.55 335,109.87 252,916.94 30,356.47 314,455.31 662,107.54 189,773.42
1,746,534.73 303,392.01 264,755.72 32,500.75 317,578.12 625,566.03 202,742.10
2,284.95 513.60 432.24 36.29 395.68 739.90 167.24
6.98 1.21 1.06 0.13 1.27 2.50 0.81
2,980,479.48 391,432.98 334,460.33 211,011.15 237,350.73 70,985.67 267,443.64 228,343.86 419,744.11 147,695.86 186,899.91 203,591.51 281,519.73
2,343,504.98 302,632.42 252,361.99 200,044.03 172,926.31 51,089.72 207,709.78 244,102.63 309,524.08 139,501.13 173,802.63 142,779.70 147,030.56
59,993.90 7,218.90 5,628.28 5,948.20 315.44 1,199.30 8,211.61 2,516.71 6,431.43 3,865.13 6,345.21 5,849.00 6,464.69
9.36 1.21 1.01 0.80 0.69 0.20 0.83 0.98 1.23 0.56 0.69 0.57 0.59
30,931,589.47
24,464,276.76
97.72
Cash at banks/(bank liabilities)
320,926.15
1.28
Other net assets/(liabilities)
249,737.95
1.00
25,034,940.86
100.00
Description
Cost
1,000,000 ROMANIA 1,000,000 ROMANIA 05YR
5.90 11-21 11/06A 5.90 11-17 26/07A
Peruvian Nuevo Sol
1,000,000 PERU 6.95 08-31 12/08S 400,000 PERU REGS 5.70 14-24 12/08S 11,000,000 15,000,000 8,600,000 10,000,000 20,000,000 15,000,000 9,000,000 10,000,000 5,000,000 5,000,000 3,500,000 2,000,000 6,000,000 4,500,000 4,500,000 6,500,000 3,300,000 3,000,000 10,000,000 8,000,000 1,000,000 10,000,000 20,000,000 5,500,000 900,000 800,000 600,000 500,000 150,000 600,000 700,000 900,000 400,000 500,000 400,000 400,000
RUSSIA 6.20 RUSSIA 6.90 RUSSIA 7.00 RUSSIA 7.05 RUSSIA 7.40 RUSSIA 7.60 RUSSIA 7.60 RUSSIA 6207 RUSSIA 6208
13-18 31/01S 10-16 03/08S 13-23 25/01S 13-28 19/01S 11-17 14/06S 11-21 14/04S 12-22 20/07S 8.15 12-27 03/02S 7.50 12-19 27/02S
SOUTH AFRICA 6.25 06-36 31/03S SOUTH AFRICA 6.50 10-41 28/02S SOUTH AFRICA 6.75 06-21 31/03S SOUTH AFRICA 7.00 10-31 28/02S SOUTH AFRICA 8.00 04-18 21/12S SOUTH AFRICA 8.75 12-48 28/02S SOUTH AFRICA R186 10.50 98-26 21/12S SOUTH AFRICA R2030 8.00 13-30 31/01S SOUTH AFRICA R207 7.25 05-20 15/01S MINISTRY FIN.THAILAND 3.875 09-19 13/06S MINISTRY OF FINANCE 3.85 10-25 12/12S THAILAND GOVT 3.58 12-27 17/12S THAILAND GOVT 3.625 10-23 16/06S THAILAND GOVT 3.65 10-21 17/12S THAILAND GOVT 4.875 09-29 22/06S
Turkish Lira
TURKEY TURKEY TURKEY TURKEY TURKEY TURKEY TURKEY TURKEY TURKEY TURKEY TURKEY TURKEY
6.30 13-18 14/02S 7.10 13-23 08/03A 7.40 15-20 05/02S 8.30 13-18 20/06S 8.50 12-22 14/09S 8.50 14-19 10/07Q 8.80 13-18 14/11S 8.80 13-23 27/09S 9.00 12-17 08/03S 9.00 14-24 24/07S 9.50 12-22 12/01S 10.50 09-20 15/01S
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 116
UBAM - LOCAL CURRENCY EMERGING MARKET BOND
Geographical classification of investments (by domicile of the issuer) Brazil Indonesia Poland South Africa Turkey Malaysia Mexico Thailand Colombia Russia Hungary Romania Peru
% of net assets 11.73 10.48 10.19 9.46 9.36 9.34 8.08 6.98 6.63 6.28 4.89 2.38 1.92 97.72
Industrial classification of investments % of net assets 97.72
Countries and central government
97.72
Page 117
UBAM - LOCAL CURRENCY EMERGING MARKET BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
1,004,718.47
Interest on bonds and other debt securities, net Interest on bank accounts Other income
Note 2
Expenses
999,859.28 1,869.54 2,989.65 266,528.46
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
183,449.60 34,392.94 5,929.67 13,767.46 257.30 786.91 2,813.81 108.99 20,696.14 1,202.32 3,123.32 738,190.01
Net realised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2
Realised result
-95,097.98 -23,418.00 -290,087.23 -3,734,837.22 -3,405,250.42
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
6,541,439.31 -22,262.39 3,113,926.50
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-25,743.72 889,957.18 1,610.32 -9,269,151.55 -263,787.30
Total changes in net assets
-5,553,188.57
Total net assets at the beginning of the period
30,588,129.43
Total net assets at the end of the period
25,034,940.86
The accompanying notes are an integral part of these financial statements.
Page 118
UBAM - STERLING BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in GBP
Assets
17,050,066.19
Securities portfolio at market value Cash at banks Interest receivable on bonds and other debt securities Unrealised gain on futures contracts
Note 2
16,825,142.21 81,996.90 113,177.08 29,750.00
Note 2, 9
Liabilities
36,825.49
Other liquid liabilities Interest payable on bank liabilities and expenses payable
5,252.74 31,572.75
Net assets at the end of the period
17,013,240.70
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
45,065.278
9,361.000
7,331.889
47,094.389
285.000
5,341.000
0.000
5,626.000
4,238.124
6,229.857
10,467.981
0.000
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
GBP
GBP
GBP
17,013,240.70
15,077,429.00
17,481,363.36
GBP
GBP
GBP
47,094.389 340.89
45,065.278 304.28
45,077.268 306.09
5,626.000 170.53 3.22
285.000 155.34 4.01
1,085.000 160.22 4.30
GBP
GBP
GBP
-
4,238.124 311.66
11,245.530 312.12
The accompanying notes are an integral part of these financial statements.
Page 119
UBAM - STERLING BOND Statement of investments and other net assets as at 30/06/2016 Expressed in GBP Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
50,000 771,000 256,000 346,000 260,000 1,150,000 985,000 320,000 185,000 215,000 160,000 335,000 200,000 330,000 444,000 173,700 315,000 287,000 502,000 378,000 290,000 377,000 300,000 294,000 341,000 275,000 317,000 455,000 437,400 210,000 284,000 363,000 260,000 285,000 365,000 240,000 120,000 35,000
Pound Sterling
IMPERIAL TOBACCO FINANCE PLC EMTN 7.75 09-19 24/06A UK TREASURY STOCK 1.00 12-17 07/09S UK TREASURY STOCK 1.25 13-18 22/07S UK TREASURY STOCK 1.75 12-17 22/01S UK TREASURY STOCK 1.75 12-22 07/09S UK TREASURY STOCK 1.75 13-19 22/07S UK TREASURY STOCK 2.00 14-20 22/07S UK TREASURY STOCK 2.00 15-25 07/09S UK TREASURY STOCK 2.25 13-23 07/09S UK TREASURY STOCK 2.50 15-65 22/07S UK TREASURY STOCK 2.75 14-24 07/09S UK TREASURY STOCK 3.25 12-44 22/01S UK TREASURY STOCK 3.50 13-65 22/07S UK TREASURY STOCK 3.50 14-45 22/01S UK TREASURY STOCK 3.75 11-21 07/09S UK TREASURY STOCK 3.75 11-52 22/07S UK TREASURY STOCK 4.00 09-22 07/03S UK TREASURY STOCK 4.00 09-60 22/01S UK TREASURY STOCK 4.25 00-32 07/06S UK TREASURY STOCK 4.25 03-36 07/03S UK TREASURY STOCK 4.25 05-55 07/12S UK TREASURY STOCK 4.25 06-27 07/12S UK TREASURY STOCK 4.25 06-46 07/12S UK TREASURY STOCK 4.25 08-49 07/12S UK TREASURY STOCK 4.25 09-39 07/09S UK TREASURY STOCK 4.25 10-40 07/12S UK TREASURY STOCK 4.50 07-42 07/12S UK TREASURY STOCK 4.50 08-19 07/03S UK TREASURY STOCK 4.50 09-34 07/09S UK TREASURY STOCK 4.75 04-38 07/12S UK TREASURY STOCK 4.75 05-20 07/03S UK TREASURY STOCK 4.75 07-30 07/12S UK TREASURY STOCK 5.00 01-25 07/03S UK TREASURY STOCK 5.00 07-18 07/03S UK TREASURY STOCK 6.00 98-28 07/12S UK TREASURY STOCK 8.00 96-21 07/06S UK TREASURY STOCK 8.75 92-17 25/08S VODAFONE GROUP EMTN 5.375 09-17 05/12A
Floating rate bonds Pound Sterling
15,000 NATL GRID ELECT 15,000 NATL GRID ELECT
Market value
Unaudited accrued Interest
% of total net assets
14,978,743.30
16,825,142.21
113,177.08
98.89
14,927,112.10
16,774,664.21
112,660.77
98.59
14,927,112.10 49,650.00 770,887.33 258,779.07 352,084.57 261,413.48 1,188,618.20 1,031,828.63 330,208.67 196,987.17 230,398.26 173,468.08 375,395.79 205,699.66 398,276.09 496,080.51 234,095.51 363,900.18 325,130.52 553,565.24 452,167.19 412,591.60 467,872.49 348,283.78 403,953.36 444,400.39 341,896.03 360,810.39 513,774.34 568,768.64 300,520.02 325,883.10 486,434.55 336,380.87 320,096.10 532,940.75 340,134.69 138,952.80 34,784.05
16,774,664.21 58,856.00 778,887.33 262,100.48 349,069.02 279,695.00 1,205,752.00 1,053,684.05 352,016.00 205,818.05 291,933.45 185,040.00 448,990.45 346,300.00 464,531.10 521,691.12 278,939.62 379,159.20 520,755.76 705,801.96 549,434.34 529,229.70 507,076.31 483,870.00 495,957.42 510,811.18 417,802.00 508,794.51 509,927.60 645,068.77 332,793.30 331,825.60 527,722.14 352,333.80 309,025.50 574,338.45 330,468.00 132,072.00 37,093.00
112,660.77 63.70 2,409.38 1,406.59 2,661.54 1,421.88 8,846.15 8,659.34 2,010.93 1,300.78 2,349.73 1,375.00 4,785.71 3,076.92 5,076.92 5,203.13 2,863.19 3,937.50 5,046.15 1,340.72 5,020.31 774.52 1,006.88 801.23 785.20 4,528.91 734.46 896.43 6,398.44 6,150.94 626.84 4,215.63 1,083.55 4,062.50 4,453.13 1,376.23 1,206.56 3,634.62 1,069.13
98.59 0.35 4.57 1.54 2.05 1.64 7.08 6.18 2.07 1.21 1.72 1.09 2.64 2.04 2.73 3.07 1.64 2.23 3.06 4.14 3.23 3.11 2.98 2.84 2.92 3.00 2.46 2.99 3.00 3.79 1.96 1.95 3.10 2.07 1.82 3.38 1.94 0.78 0.22
51,631.20
50,478.00
516.31
0.30
51,631.20 26,457.00 25,174.20
50,478.00 26,528.70 23,949.30
516.31 363.15 153.16
0.30 0.16 0.14
14,978,743.30
16,825,142.21
98.89
81,996.90
0.48
106,101.59
0.62
17,013,240.70
100.00
Cost
FL.R 01-20 27/07S FL.R 02-18 08/07S
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 120
UBAM - STERLING BOND
Geographical classification of investments (by domicile of the issuer) United Kingdom
% of net assets 98.89 98.89
Industrial classification of investments % of net assets 98.02 0.35 0.30 0.22
Countries and central government Holding and finance companies Electrical engineering and electronics Communications
98.89
Page 121
UBAM - STERLING BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in GBP
Income
238,286.23
Interest on bonds and other debt securities, net Interest on bank accounts Other income
Note 2
Expenses
238,051.65 230.64 3.94 76,572.52
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
40,003.27 8,521.55 4,065.86 8,444.18 170.95 34.92 1,613.93 130.89 12,680.57 906.40 161,713.71
Net realised gain/(loss) on: - securities portfolio - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2
Realised result
247,759.06 33,925.66 -0.11 150.17 443,548.49
Net variation of the unrealised gain/(loss) on: - securities portfolio - futures contracts
Note 2 Note 2
Result of operations
1,402,578.43 36,550.00 1,882,676.92
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares
Note 14
Total changes in net assets
-11,933.32 4,997,769.50 853,243.00 -5,785,944.40 1,935,811.70
Total net assets at the beginning of the period
15,077,429.00
Total net assets at the end of the period
17,013,240.70
The accompanying notes are an integral part of these financial statements.
Page 122
UBAM - UNCONSTRAINED BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
413,288,682.85
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on sales of securities Receivable on issues of shares Unrealised gain on forward foreign exchange contracts
Note 2
325,193,537.76 158,168.75 58,662,544.20 2,912,213.54 10,527.61 4,998,075.12 19,209,950.00 519,933.99 1,623,731.88
Note 2
Note 2, 8
Liabilities
2,256,507.42
Bank liabilities Other liquid liabilities Payable on purchases of securities Payable on redemptions of shares Unrealised loss on futures contracts Unrealised loss on swap contracts Interest payable on bank liabilities and expenses payable
113,198.06 394,111.08 249,375.00 280,906.53 236,125.28 480,187.53 502,603.94
Note 2, 9 Note 2, 10
Net assets at the end of the period
411,032,175.43
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
AP shares
Capitalisation shares Distribution shares
APH CHF shares
Capitalisation shares
APH USD shares
Capitalisation shares
APH GBP shares
Capitalisation shares Distribution shares
IP shares
Capitalisation shares
IPH CHF shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
0.000
1,000.000
0.000
1,000.000
728,250.031
13,747.942
336,005.474
405,992.499
4,420.138
0.000
1,690.138
2,730.000
75,565.211
2,200.000
27,916.350
49,848.861
771,131.340
24,646.014
331,345.000
464,432.354
32,880.588
3,556.000
18,314.588
18,122.000
5,265.000
5,510.000
150.000
10,625.000
1,778,767.596
707,938.198
342,341.554
2,144,364.240
822,285.721
21,594.000
69,997.000
773,882.721
The accompanying notes are an integral part of these financial statements.
Page 123
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - UNCONSTRAINED BOND Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
IPH USD shares
Capitalisation shares
UH GBP shares
Capitalisation shares
UPH GBP shares
Capitalisation shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
339,725.377
8,897.000
86,671.539
261,950.838
0.000
10.000
0.000
10.000
15.000
148.000
10.000
153.000
10.000
0.000
0.000
10.000
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
AP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
APH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
APH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
411,032,175.43
451,071,411.43
319,031,379.36
EUR
EUR
EUR
1,000.000 100.00
-
-
EUR
EUR
EUR
405,992.499 102.18
728,250.031 101.97
1,018,119.941 102.03
2,730.000 96.15 2.28
4,420.138 98.23 2.58
2,635.000 100.87 0.77
CHF
CHF
CHF
49,848.861 100.39
75,565.211 100.45
78,498.000 101.59
USD
USD
USD
464,432.354 102.83
771,131.340 102.21
894,704.762 102.02
The accompanying notes are an integral part of these financial statements.
Page 124
UBAM - UNCONSTRAINED BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets APH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share
IPH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IPH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
UH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
UPH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
411,032,175.43
451,071,411.43
319,031,379.36
GBP
GBP
GBP
18,122.000 103.78
32,880.588 103.20
39,896.000 102.48
10,625.000 98.01 2.31
5,265.000 99.72 2.60
4,090.000 101.71 0.77
EUR
EUR
EUR
2,144,364.240 103.11
1,778,767.596 102.74
575,121.081 102.50
CHF
CHF
CHF
773,882.721 101.34
822,285.721 101.24
596,115.000 102.04
USD
USD
USD
261,950.838 103.75
339,725.377 102.99
206,266.397 102.48
GBP
GBP
GBP
10.000 101.03
-
-
GBP
GBP
GBP
153.000 101.05
15.000 100.31
-
EUR
EUR
EUR
10.000 101.12
10.000 101.13
10.000 101.59
The accompanying notes are an integral part of these financial statements.
Page 125
UBAM - UNCONSTRAINED BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
2,000,000 7,347,000 1,000,000 4,350,000 5,200,000 1,100,000 6,000,000 2,100,000 1,600,000 3,200,000 1,000,000 1,700,000 3,000,000 1,750,000 1,500,000 1,500,000 3,000,000 1,600,000 600,000 3,500,000 1,400,000 2,000,000 400,000 3,100,000 4,400,000 800,000 4,700,000 4,740,000 2,647,000 900,000 2,000,000 5,000,000 2,700,000 550,000 11,900,000 2,000,000 5,000,000 2,000,000 1,600,000 1,750,000 5,250,000
Euro
ALLIED IRISH BANKS 2.75 14-19 16/04A ALLIED IRISH REGS 2.875 13-16 28/11A ALSTRIA OFFICE REIT 2.125 16-23 12/04A AMERICA MOVIL 3.75 10-17 28/06A BANCO POPULAR ESP 3.50 13-17 11/09A BANK OF AMERICA CORP 1.375 14-21 10/09A BAYERISCHE LDBK EMTN 5.75 07-17 23/10A BCO POPULAR ESPANOL 1.00 16-22 03/10A CITIGROUP 1.375 14-21 27/10A CREDIT SUISSE AG 0.375 16-19 11/04A CRH FINANCE 5.00 12-19 25/01A FCE BANK EMTN 1.625 13-16 09/09A FINANCEMENT FONCIER 0.625 14-21 12/11A FINMECCANICA FINANCE 5.75 03-18 12/12A GAZ CAPITAL 6.605 07-18 13/02A GAZPROM OAO REG-S 3.755 12-17 15/03A GLENCORE FINANCE EURO 1.25 15-21 17/03A GOLDMAN SACHS GROUP 2.50 14-21 18/10A HEIDELBERGCEMENT 2.25 16-24 03/06A HEIDELBERGCEMENT FIN 8.00 09-17 31/01S HJ HEINZ CO 2.00 15-23 30/06A HUTCHISON WHAMPOA 2.50 12-17 06/06A INTESA SAN PAOLO 3.25 12-17 28/04A IPIC GMTN REG 2.375 12-18 30/05A ITALY BTP 1.60 16-26 01/06S KBC GROEP 1.00 16-21 26/04A KOREA GAS CORP 2.375 13-19 15/04A MERRILL LYNCH EMTN 4.625 06-18 14/09A MORGAN STANLEY 2.25 13-18 12/03S MORGAN STANLEY 2.375 14-21 31/03A PEMEX 3.75 16-19 15/03A PEMEX 5.50 09-17 09/01A PERNOD RICARD 5.00 11-17 15/03A PEUGEOT SA 2.375 16-23 14/04A PORTUGAL 4.35 07-17 16/10A PROLOGIS 1.375 15-21 13/05A ROYAL BK OF SCOT SUB 4.35 06-17 23/01A TELEFONICA EMIS SA 4.797 12-18 21/02A TESCO 5.875 08-16 12/09A TESCO EMTN 1.25 13-17 13/11A UNICREDITO SPA -219- 5.75 07-17 26/09A
Pound Sterling
3,400,000 IMPERIAL TOBACCO 1,200,000 286,000 1,250,000 6,400,000 1,200,000 2,000,000 1,300,000 1,000,000 3,000,000 500,000 600,000 4,250,000 1,600,000 1,800,000 500,000 5,200,000 8,591,000 1,000,000
Market value
Unaudited accrued Interest
% of total net assets
319,003,800.81
318,131,038.60
4,970,045.43
77.40
184,721,789.68
184,269,571.99
2,881,830.05
44.83
123,903,756.35 2,101,000.74 7,530,186.30 996,028.51 4,532,700.08 5,467,401.24 1,130,789.54 6,435,600.66 2,120,727.28 1,645,392.66 3,195,012.19 1,165,290.00 1,720,757.00 3,067,050.00 1,979,518.01 1,610,775.52 1,525,500.00 2,763,000.41 1,733,120.34 593,778.00 4,006,165.00 1,469,552.44 2,099,620.00 414,460.16 3,233,300.81 4,499,220.60 795,168.00 4,961,270.10 5,250,408.65 2,786,685.97 968,526.54 2,033,229.34 5,411,405.32 2,982,716.00 550,000.00 12,576,991.36 1,987,000.42 5,263,370.00 2,160,645.38 1,683,802.22 1,762,680.73 5,693,908.83
122,638,225.39 2,109,460.00 7,423,482.27 1,051,250.00 4,509,079.50 5,419,752.00 1,144,198.00 6,391,260.00 2,193,030.00 1,664,336.00 3,212,960.00 1,125,770.00 1,705,083.00 3,117,870.00 1,954,680.00 1,621,530.00 1,527,000.00 2,778,690.00 1,738,768.00 602,946.00 3,652,320.00 1,496,264.00 2,046,380.00 411,132.00 3,230,634.00 4,542,208.00 815,440.00 4,964,422.00 5,149,109.40 2,744,303.72 972,873.00 2,092,140.00 5,123,200.00 2,795,634.00 561,605.00 12,525,345.00 2,056,880.00 5,092,450.00 2,156,800.00 1,616,048.00 1,762,040.00 5,539,852.50
2,191,584.82 11,301.37 124,080.99 4,599.32 893.84 145,699.45 12,149.59 236,598.36 6,846.58 14,846.99 2,630.14 21,448.09 22,266.05 11,834.02 55,261.27 37,356.15 16,511.71 10,890.00 27,978.14 998.63 116,666.67 0.00 3,287.67 2,243.84 68,394.00 5,770.00 1,424.66 23,242.47 173,702.87 17,948.84 5,329.11 21,986.30 129,986.34 39,575.34 2,719.86 364,900.82 3,616.44 94,487.70 34,077.05 74,994.54 13,746.58 229,293.03
29.84 0.51 1.81 0.26 1.10 1.32 0.28 1.55 0.53 0.40 0.78 0.27 0.41 0.76 0.48 0.39 0.37 0.68 0.42 0.15 0.89 0.36 0.50 0.10 0.79 1.11 0.20 1.21 1.25 0.67 0.24 0.51 1.25 0.68 0.14 3.04 0.50 1.24 0.52 0.39 0.43 1.35
4,343,719.59 4,343,719.59
4,157,528.42 4,157,528.42
135,870.65 135,870.65
1.01 1.01
56,474,313.74 1,109,858.40 255,210.34 1,143,107.67 6,146,859.82 1,049,254.98 1,853,419.50 1,170,462.71 816,164.47 2,978,733.39 428,639.15 527,044.77 3,790,750.56 1,488,742.37 1,644,135.17 375,453.62 4,679,625.63 7,885,215.37 733,629.98
57,473,818.18 1,123,589.72 271,531.76 1,215,176.20 5,998,181.74 1,091,239.03 1,865,070.44 1,243,387.19 876,853.14 2,793,068.99 465,673.53 549,324.45 3,897,054.33 1,511,283.13 1,691,168.82 450,416.31 4,711,149.91 7,934,002.51 901,570.73
554,374.58 15,512.25 3,089.25 4,125.60 147,221.35 3,600.52 6,300.91 13,710.49 537.58 1,650.24 1,685.87 3,050.70 23,042.06 19,994.90 12,151.76 3,305.17 1,824.74 136,509.30 3,422.37
13.98 0.27 0.07 0.30 1.46 0.27 0.45 0.30 0.21 0.68 0.11 0.13 0.95 0.37 0.41 0.11 1.15 1.92 0.22
Cost
5.50 06-16 22/11A
US Dollar
ALLIANZ SE 5.50 12-XX 26/09S BAKER HUGHES INC 3.20 11-21 15/08S BARRICK NA FINANCE 4.40 11-21 30/05S BBVA REGS 5.75 07-17 20/07S BK OF NOVA SCOTIA 1.875 16-21 26/04A DOMINION GAS HLDGS 2.80 15-20 15/11S EBAY 3.80 16-22 09/03S ECOPETROL SA 5.375 15-26 26/06S EKSPORTFINANS 5.50 07-17 26/06S ENERGY TRANSFER 4.65 11-21 01/06S EXELON CORP 2.45 16-21 15/04S FORD MOTOR CREDIT 2.551 15-18 05/10S GENERAL MOTORS 4.20 16-21 01/03S HEWLETT PACKARD 144A 3.60 15-20 15/10S HYUNDAI CAP REGS 1.875 13-16 09/08S ING REGS FL.R 16-19 22/03Q INTESA SAN PAOLO 3.875 13-18 16/01S M UFG LEASE FIN 1.875 13-16 17/10S
The accompanying notes are an integral part of these financial statements.
Page 126
UBAM - UNCONSTRAINED BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
1,000,000 2,000,000 150,000 5,000,000 1,600,000 350,000 700,000 1,600,000 4,900,000 1,000,000 1,000,000 1,000,000
MARATHON OIL 6.00 07-17 01/10S MITSUBISHI UFJ REGS 1.60 14-17 16/10S MOLEX ELECTRONICS TEC 2.878 15-20 15/04S NATIONAL BK AUSTRALIA 2.25 16-21 16/03S NEWELL RUBBERMAID 3.15 16-21 01/04S PERNOD RICARD REGS 5.75 11-21 07/04S PRUDENTIAL FINANCIAL 7.75 11-XX 23/06Q RELIANCE HLDGS REGS 5.40 12-22 14/02S SOUTHERN POWER 1.85 15-17 12/01S TIME WARNER 5.00 09-20 01/02S UBS AG STAMFORD 5.875 06-16 15/07A WALGREENS BOOTS 3.30 14-21 18/11S
Floating rate bonds Australian Dollar
4,000,000 BANK OF TOKYO MITSUB FL.R 13-17 19/09Q 1,450,000 1,800,000 500,000 5,000,000 1,000,000 6,200,000 2,000,000 3,000,000 767,000 4,000,000 2,000,000 7,670,000 3,000,000 500,000 3,000,000 2,400,000 5,940,000 1,000,000 1,000,000 1,000,000 4,350,000 900,000 1,000,000 1,050,000 2,500,000 500,000 1,000,000 1,000,000 4,000,000 2,100,000 1,000,000 5,000,000 1,950,000 5,000,000 500,000 5,200,000 2,600,000 1,400,000
Euro
AMERICAN INTL GROUP FL.R 07-67 15/03A ARCELORMITTAL FL.R 10-17 18/11A AXA FL.R 10-40 16/04A BANK OF AMERICA FL.R 07-17 23/05M BAYER SUB FL.R 14-75 01/07A BFCM FL.R 16-20 03/06Q BNP PARIBAS FL.R 08-XX 02/07A BNP PARIBAS SUB FL.R 07-XX 13/04A BPCE FL.R 09-XX 30/09S BPCE GP FL.R 07-XX 30/10A CITIGROUP INC FL.R 04-19 10/02Q CITIGROUP INC EMTN SUB FL.R 07-17 31/05A CITIGROUP INC EMTN VAR FL.R 05-17 30/11Q CLOVERIE PLC SUB FL.R 09-39 24/07A CNP ASSURANCES SA FL.R 06-XX 22/12A CREDIT AGRICOLE FL.R 08/A DANSKE BANK SUB FL.R 07-XX 15/05A DONG ENERGY A/S FL.R 13-13 08/07A DT ANNINGTON FI SUB FL.R 14-XX 17/12A EDF SA FL.R 14-XX 22/01A ELM BV/SWISS LIFE-EMTN-FL.R 07-XX 12/04A ENBW ENERGIE FL.R 14-76 02/04A ENGIE FL.R 13-18 10/07A FCA CAPITAL IRELAND P FL.R 15-17 17/10Q FEDEX CORP FL.R 16-19 11/04Q HANNOVER FINANCE FL.R 10-40 14/09A IBERDROLA INTL FL.R 13-XX 27/02A LEASEPLAN CORP FL.R 14-17 28/04Q MUNICH RE SUB FL.R 07-XX 29/06A NATIXIS PERPETUAL FL.R 07-49 18/10A ORANGE EMTN FL.R 14-XX 01/10A RBS FL.R 12-22 16/03A SANTANDER CONS.SUB FL.R 06-16 28/09Q SOCIETE GENERALE FL.R 07-17 19/12A TOTAL SA FL.R 15-XX 26/02A UBS CAPITAL FL.R 07-XX 29/12A VOLVO TREASURY AB FL.R 16-18 20/06Q VW INTL FIN SUB FL.R 14-XX 24/03A
Pound Sterling
1,000,000 BARCLAYS BANK PLC FL.R 02-XX 19/04A 100,000 NATIONAL CAP TR 1 REG FL.R 03-XX 17/06S
Swiss Franc
500,000 SWISS LIFE AG 2,500,000 2,858,000 5,200,000 700,000 1,500,000 2,500,000
FL.R 16-46 24/09A
US Dollar
BARCLAYS BANK PLC REGS SUB FL.R 07-25/09S CREDIT AGRICOLE REGS FL.R 09-XX 13/10S CREDIT SUISSE GUERNSEY FL.R 07-15/05S DOMINION RESOURCES FL.R 14-54 01/10S ENBRIDGE FL.R 13-16 01/10Q HYUNDAI CAP REGS FL.R 14-17 18/03Q
Cost
Market value
Unaudited accrued Interest
% of total net assets
914,498.80 1,572,200.59 131,405.01 4,538,122.70 1,460,744.14 353,124.17 567,528.79 1,614,185.45 4,553,589.66 953,105.07 836,916.82 902,584.64
933,264.32 1,806,147.89 135,554.25 4,611,953.74 1,503,117.16 363,868.31 645,843.65 1,612,457.81 4,447,115.53 979,396.01 901,309.69 944,047.89
18,902.74 5,920.86 809.56 29,254.24 11,341.64 4,176.54 949.51 29,380.26 6,573.08 18,627.70 24,237.89 3,465.50
0.23 0.44 0.03 1.12 0.37 0.09 0.16 0.39 1.08 0.24 0.22 0.23
134,282,011.13
133,861,466.61
2,088,215.38
32.57
2,801,414.71 2,801,414.71
2,687,962.47 2,687,962.47
2,273.31 2,273.31
0.65 0.65
99,181,845.10 1,524,312.50 1,933,200.02 552,850.75 4,942,000.00 1,033,750.00 6,200,000.00 2,350,500.00 3,132,000.53 1,032,535.40 4,344,977.89 1,999,646.40 7,639,613.83 3,000,500.78 590,000.93 3,070,563.76 2,707,500.86 6,246,727.40 1,073,750.00 1,012,900.05 916,377.84 4,638,865.00 919,125.00 1,061,130.00 1,053,885.30 2,500,000.00 584,050.32 1,077,500.40 998,740.00 4,306,396.47 2,300,400.43 1,056,200.68 5,590,775.86 1,937,325.00 5,597,062.50 484,950.10 5,746,421.38 2,600,000.00 1,425,307.72
97,512,818.78 1,452,080.75 1,918,422.00 553,135.00 4,992,150.00 1,008,550.00 6,203,038.00 2,234,620.00 3,077,640.00 1,014,940.42 4,224,960.00 2,001,740.00 7,665,704.80 3,000,720.00 581,330.00 3,029,820.00 2,661,240.00 6,078,520.80 1,053,420.00 1,016,730.00 947,630.00 4,481,805.00 870,840.00 1,046,520.00 1,053,790.50 2,507,175.00 573,750.00 1,069,470.00 1,000,400.00 4,160,360.00 2,216,844.00 1,040,850.00 5,309,800.00 1,950,124.51 5,377,600.00 484,285.00 5,630,560.00 2,595,177.00 1,427,076.00
1,487,423.96 20,722.09 65,299.18 5,393.84 395.07 29,918.03 971.85 154,769.62 32,176.60 71,775.27 163,120.00 3,241.33 0.00 2,525.00 35,040.98 74,364.75 49,065.21 36,516.84 47,684.43 21,530.00 18,032.79 55,068.74 7,955.14 37,691.26 1,381.83 1,688.89 22,780.05 19,480.87 346.50 11,376.00 92,640.52 29,890.03 152,465.75 61.64 185,492.62 3,842.21 18,340.47 141.56 14,237.00
23.73 0.35 0.47 0.13 1.21 0.25 1.51 0.54 0.75 0.25 1.03 0.49 1.87 0.73 0.14 0.74 0.65 1.48 0.26 0.25 0.23 1.09 0.21 0.25 0.26 0.61 0.14 0.26 0.24 1.01 0.54 0.25 1.29 0.47 1.31 0.12 1.37 0.63 0.35
1,484,168.15 1,340,320.13 143,848.02
1,346,499.01 1,224,402.86 122,096.15
15,372.07 15,131.87 240.20
0.33 0.30 0.03
461,573.97 461,573.97
498,563.25 498,563.25
5,389.75 5,389.75
0.12 0.12
30,353,009.20 2,241,013.07 3,014,911.51 4,228,068.34 569,131.55 1,110,494.17 1,802,906.28
31,815,623.10 2,313,537.96 2,887,250.16 4,754,258.97 633,008.69 1,345,769.84 2,250,596.34
577,756.29 6,970.39 46,083.00 34,285.97 8,956.92 4,304.09 904.25
7.74 0.56 0.70 1.16 0.15 0.33 0.55
The accompanying notes are an integral part of these financial statements.
Page 127
UBAM - UNCONSTRAINED BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Cost
Market value
Unaudited accrued Interest
% of total net assets
8,796,912.86 923,497.47 1,317,137.42 4,534,635.04 1,814,301.49
8,650,271.29 1,109,287.09 1,606,714.08 4,448,231.26 1,816,697.42
445,284.86 2,914.94 2,879.72 0.00 25,172.15
2.11 0.27 0.39 1.08 0.44
6,994,814.23
7,062,499.16
27,721.66
1.72
6,994,814.23
7,062,499.16
27,721.66
1.72
5,253,480.60 249,375.00 5,004,105.60
5,274,537.50 251,087.50 5,023,450.00
1,027.40 0.00 1,027.40
1.29 0.06 1.23
1,741,333.63 1,741,333.63
1,787,961.66 1,787,961.66
26,694.26 26,694.26
0.43 0.43
325,998,615.04
325,193,537.76
79.12
Cash at banks/(bank liabilities)
58,549,346.14
14.24
Other net assets/(liabilities)
27,289,291.53
6.64
411,032,175.43
100.00
Description
9,296,000 1,250,000 1,800,000 4,084,000 2,000,000
LLOYDS BANK FL.R 11-21 16/12A MITSUBISHI UF LEASE FL.R 14-19 23/07Q MITSUBISHI UFJ FL.R 14-19 20/02Q RABOBANK NED. SUB FL.R 09-XX 29/12S SOCIETE GENERALE FL.R 07-XX 05/04S
Other transferable securities Bonds Euro
250,000 MOLSON COORS 5,000,000 RCI BANQUE SA
1.25 16-24 15/07A 0.375 19-19 10/07A
US Dollar
1,900,000 CHARTER COMM -144A- 3.579 15-20 23/07S
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 128
UBAM - UNCONSTRAINED BOND
Geographical classification of investments (by domicile of the issuer) United States of America France United Kingdom Italy The Netherlands Spain Germany Luxembourg Portugal Mexico Ireland Australia South Korea Denmark Jersey Island Japan Cayman Islands Guernsey Norway Sweden Canada Colombia Belgium Switzerland
% of net assets 16.04 12.34 8.68 4.96 4.69 4.30 3.70 3.20 3.04 2.86 2.46 1.77 1.76 1.74 1.37 1.32 1.29 1.16 0.68 0.63 0.60 0.21 0.20 0.12 79.12
Page 129
UBAM - UNCONSTRAINED BOND
Industrial classification of investments % of net assets 45.01 11.72 4.15 3.59 2.78 2.65 2.11 1.01 0.83 0.69 0.69 0.61 0.54 0.48 0.47 0.41 0.37 0.36 0.26 0.25 0.14
Banks and credit institutions Holding and finance companies Countries and central government Utilities Insurance Petroleum Communications Real estate companies Tobacco and alcoholic drinks Electrical engineering and electronics Retail trade, department stores Transportation Building materials and trade Aerospace industry Coal mining and steel industry Office supplies and computing Miscellaneous consumer goods Foods and non alcoholic drinks Healthcare and social services Chemicals Road vehicles
79.12
Page 130
UBAM - UNCONSTRAINED BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
6,596,691.37
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
6,145,777.32 3,082.20 447,742.52 89.33 1,480,303.67
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Performance fees Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5 Note 4
Note 2 Note 6, 7 Note 2
Net investment income
674,401.60 214,939.29 41,226.51 215,599.48 73,236.74 4,263.55 4,756.07 5,295.72 36,694.01 33,725.81 905.00 159,621.10 15,638.79 5,116,387.70
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-2,928,384.80 117,291.17 -1,761,135.68 -857,875.59 1,001,682.54 2,257,958.07 2,945,923.41
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
-6,200,300.90 3,344,294.90 -458,750.08 -1,563,230.14 -1,932,062.81
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-35,567.87 80,153,904.76 707,836.10 -118,751,216.60 -182,129.58
Total changes in net assets
-40,039,236.00
Total net assets at the beginning of the period
451,071,411.43
Total net assets at the end of the period
411,032,175.43
The accompanying notes are an integral part of these financial statements.
Page 131
UBAM - US DOLLAR BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
358,613,096.79
Securities portfolio at market value Other liquid assets Cash at banks Deposits on futures and option contracts Interest receivable on swap contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Unrealised gain on futures contracts Other receivables
Note 2
351,970,171.51 760,481.34 3,143,152.63 170,709.66 4,522.23 1,758,242.07 178,207.98 549,484.37 78,125.00
Note 2
Note 2, 9
Liabilities
1,161,193.90
Other liquid liabilities Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Unrealised loss on swap contracts Interest payable on bank liabilities and expenses payable
246,016.51 1,114.55 82,810.15 237,395.42 593,857.27
Note 2, 8 Note 2, 10
Net assets at the end of the period
357,451,902.89
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares
AH GBP shares
Capitalisation shares
I shares
Capitalisation shares Distribution shares
U shares
Distribution shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
46,846.016
63,576.485
7,783.837
102,638.664
396.692
3,006.000
20.788
3,381.904
0.000
37,779.000
4,170.000
33,609.000
915.000
340.000
0.000
1,255.000
19,841.920
27,017.028
22,551.496
24,307.452
2,500.000
43,815.000
39,591.000
6,724.000
18,089.000
23,849.000
5,282.000
36,656.000
968.332
0.000
7.792
960.540
The accompanying notes are an integral part of these financial statements.
Page 132
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - US DOLLAR BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
U shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
357,451,902.89
175,350,146.88
180,022,052.56
USD
USD
USD
102,638.664 2,645.16
46,846.016 2,509.53
40,737.318 2,519.72
3,381.904 2,117.29 42.65
396.692 2,050.47 52.69
588.106 2,110.86 57.94
EUR
EUR
EUR
33,609.000 102.82
-
-
GBP
GBP
GBP
1,255.000 105.40
915.000 99.87
-
USD
USD
USD
24,307.452 2,793.42
19,841.920 2,644.27
27,788.953 2,643.31
6,724.000 103.11 2.33
2,500.000 99.87 -
-
USD
USD
USD
36,656.000 102.65 2.32
18,089.000 99.53 -
-
USD
USD
USD
960.540 2,522.51
968.332 2,399.07
1,106.748 2,420.82
The accompanying notes are an integral part of these financial statements.
Page 133
UBAM - US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
1,000,000 250,000 500,000 1,000,000 250,000 600,000 850,000 800,000 1,100,000 450,000 950,000 1,000,000 750,000 500,000 1,500,000 400,000 500,000 400,000 450,000 450,000 500,000 1,000,000 750,000 500,000 1,000,000 500,000 1,000,000 500,000 1,000,000 1,000,000 2,500,000 350,000 2,000,000 2,000,000 1,500,000 500,000 250,000 3,000,000 3,000,000 2,250,000 5,635,000 3,350,000 1,500,000 550,000 3,212,000 2,600,000 1,000,000 700,000 1,050,000 350,000 1,100,000 1,000,000 4,000,000 500,000 900,000 1,400,000 3,625,000 1,600,000 2,300,000 3,600,000 7,000,000 3,000,000
Market value
Unaudited accrued Interest
% of total net assets
337,292,265.63
349,918,453.51
1,756,808.74
97.90
330,930,492.99
343,533,015.91
1,745,235.61
96.11
330,930,492.99 999,390.00 249,893.33 498,780.00 1,091,550.00 250,817.50 599,598.00 861,755.50 795,720.00 1,098,284.00 451,359.75 952,706.50 998,270.00 759,547.58 498,135.28 1,498,215.00 398,652.00 507,955.00 370,000.94 512,451.00 493,141.50 499,685.00 1,070,770.00 770,512.50 496,270.00 997,180.00 498,740.00 1,168,710.00 499,640.00 999,300.00 1,132,284.00 2,498,350.00 407,529.50 2,018,080.00 1,999,720.00 1,499,130.00 499,015.00 251,173.32 2,973,164.52 3,041,484.70 2,215,337.29 5,305,013.81 3,712,463.86 1,230,234.37 654,156.25 3,603,964.38 3,203,408.86 1,283,983.90 1,034,277.34 1,085,902.68 478,597.66 1,571,625.00 1,191,640.62 4,710,624.99 735,546.88 1,282,394.53 1,868,945.30 5,190,660.01 2,405,000.00 3,153,549.38 3,381,187.50 7,181,563.19 3,097,383.82
343,533,015.91 1,007,240.00 256,287.50 499,820.00 1,077,290.00 255,917.50 608,124.00 868,615.00 808,208.00 1,125,014.00 457,051.50 972,220.50 1,001,020.00 768,097.50 500,820.00 1,493,655.00 414,400.00 509,620.00 389,656.00 514,696.50 501,903.00 501,985.00 1,001,970.00 769,492.50 507,565.00 1,003,370.00 500,800.00 1,117,370.00 507,390.00 1,020,140.00 1,115,550.00 2,561,825.00 406,371.00 2,003,140.00 2,030,540.00 1,512,405.00 507,595.00 255,677.50 3,013,828.14 3,065,742.18 2,350,722.67 6,216,989.85 3,864,800.80 1,897,734.38 731,843.75 4,500,313.13 3,752,328.13 1,453,750.00 1,078,273.44 1,487,308.60 520,050.78 1,552,031.25 1,478,515.63 5,369,062.52 787,226.57 1,322,578.13 2,085,015.63 4,941,328.13 1,966,062.49 2,990,898.45 5,129,437.50 7,336,875.00 3,164,062.50
1,745,235.61 1,300.00 442.36 390.63 7,000.00 2,979.17 560.00 3,600.69 2,666.67 8,277.50 3,585.94 5,517.92 3,343.75 3,906.25 1,487.50 10,703.13 1,400.00 3,854.17 238.89 12,656.25 7,054.69 0.00 18,593.75 13,239.58 4,906.25 7,493.06 1,901.04 8,593.75 731.25 5,036.11 23,527.78 16,250.00 7,556.11 11,888.89 15,104.17 2,235.42 5,281.25 2,243.06 10,889.42 14,959.46 21,016.48 19,370.31 12,562.50 19,615.38 7,962.91 17,063.75 43,714.29 5,625.00 4,375.00 20,596.15 7,028.85 24,659.34 7,656.25 93,406.59 3,906.25 23,118.13 13,125.00 36,250.00 48,571.43 25,156.25 19,687.50 57,759.56 16,024.59
96.11 0.28 0.07 0.14 0.30 0.07 0.17 0.24 0.23 0.31 0.13 0.27 0.28 0.21 0.14 0.42 0.12 0.14 0.11 0.14 0.14 0.14 0.28 0.22 0.14 0.28 0.14 0.31 0.14 0.29 0.31 0.72 0.11 0.56 0.57 0.42 0.14 0.07 0.84 0.86 0.66 1.74 1.08 0.53 0.20 1.26 1.05 0.41 0.30 0.42 0.15 0.43 0.41 1.50 0.22 0.37 0.58 1.38 0.55 0.84 1.44 2.05 0.89
Cost
US Dollar
ABN AMRO BANK 1.80 15-18 04/06S ABN AMRO BANK 2.45 15-20 04/06S AMERICAN EXPRESS -E- 1.125 14-17 05/06S AT T INC 5.60 08-18 15/05S BANK OF AMERICA CORP 2.60 13-19 15/01S BANQUE NATL CANADA 2.10 15-18 14/12S BFCM REGS 2.50 13-18 29/10S BK OF NOVA SCOTIA 1.875 16-21 26/04A BNY MELLON 2.15 15-20 24/02S CELGENE 2.125 15-18 15/08S CITIGROUP 2.55 14-19 08/04S COMMONW.BK AUSTRAL. 1.125 14-17 13/03S CREDIT AGRICOLE LDN 2.50 14-19 15/04S CS NY 1.70 15-18 27/04S DEUTSCHE BANK AG 1.875 15-18 13/02S DOMINION GAS HLDGS 2.80 15-20 15/11S EBAY 2.50 16-18 09/03S ECOPETROL SA 5.375 15-26 26/06S GOLDMAN SACHS GROUP INC 7.50 09-19 15/02S GOLDMAN SACHS 580 5.375 10-20 15/03S HJ HEINZ 144A 1.60 15-17 30/06S HYUNDAI CAPITAL SERV 4.375 11-16 27/07S INTESA SAN PAOLO 3.875 13-18 16/01S JPMORGAN CHASE CO 2.25 15-20 23/01S KOOKMIN BANK REGS 1.625 14-17 14/07S M UFG LEASE FIN 1.875 13-16 17/10S MERRILL LYNCH 6.875 98-18 15/11S METROPOLITAN LIFE144A 1.95 15-18 03/12S MITSUBISHI UFJ 2.45 14-19 16/10S MORGAN STANLEY 5.50 10-20 26/01S NATIONAL BK AUSTRALIA 2.25 16-21 16/03S NOMURA HOLDING 6.70 10-20 04/03S NOMURA HOLDINGS 2.00 13-16 13/09S ROYAL BANK OF CANADA 1.875 15-20 05/02S SOUTHERN POWER 1.85 15-17 12/01S SUMITOMO MITSUI 2.25 14-15 11/01S UBS AG STAMFORD CT 2.375 14-19 14/08S US T-NOTES N-2019 0.875 12-19 31/07S US TREAS N/B V-2019 1.50 14-19 28/02S US TREASURY BONDS 2.50 15-45 15/02S US TREASURY BONDS 2.75 12-42 15/11S US TREASURY BONDS 3.00 14-44 15/11S US TREASURY BONDS 3.50 09-39 15/02S US TREASURY BONDS 3.875 10-40 15/08S US TREASURY BONDS 4.25 09-39 15/05S US TREASURY BONDS 4.50 06-36 15/02S US TREASURY BONDS 4.50 08-38 15/05S US TREASURY BONDS 5.00 07-37 15/05S US TREASURY BONDS 5.25 99-29 15/02S US TREASURY BONDS 5.375 01-31 15/02S US TREASURY BONDS 6.00 96-26 15/02S US TREASURY BONDS 6.125 97-27 15/11S US TREASURY BONDS 6.25 93-23 15/08S US TREASURY BONDS 6.25 99-30 15/05S US TREASURY BONDS 6.875 95-25 15/08S US TREASURY BONDS 7.50 94-24 15/11S US TREASURY BONDS 8.00 91-21 15/11S US TREASURY BONDS 8.125 89-19 15/08S US TREASURY BONDS 8.75 90-20 15/05S US TREASURY BONDS Series 2039 4.375 09-39 15/11S US TREASURY N/B 2.00 15-22 31/07S US TREASURY NOTE 2.125 14-21 30/09S
The accompanying notes are an integral part of these financial statements.
Page 134
UBAM - US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
2,500,000 2,500,000 5,000,000 3,000,000 1,500,000 4,000,000 6,100,000 1,200,000 5,000,000 5,000,000 3,000,000 3,500,000 4,000,000 5,000,000 8,000,000 10,500,000 3,000,000 8,300,000 2,400,000 3,000,000 2,600,000 8,300,000 6,595,000 1,900,000 7,200,000 1,700,000 5,000,000 5,000,000 2,000,000 5,000,000 4,841,000 4,000,000 6,450,000 2,500,000 6,000,000 2,450,000 5,000,000 5,000,000 3,000,000 3,700,000 2,500,000 4,700,000 3,000,000 3,000,000 1,950,000 2,800,000 2,500,000 1,000,000 650,000 1,000,000 2,500,000 2,500,000 700,000 1,000,000 3,000,000 3,300,000 2,000,000 4,400,000 2,500,000 1,950,000 1,000,000 500,000 2,500,000
US TREASURY NOTE 3.125 14-44 15/08S US TREASURY NOTES 2.125 11-21 15/08S US TREASURY NOTES 2.125 15-22 31/12S US TREASURY NOTES 2.25 14-21 31/07S US TREASURY NOTES 4.625 10-40 15/02S US TREASURY NOTES 1.25 15-20 31/01S US TREASURY NOTES 2.00 13-20 30/11S US TREASURY NOTES 4.00 08-18 15/08S US TREASURY NOTES Series AA-2018 1.375 13-18 30/06S US TREASURY NOTES Series AB-2018 1.375 13-18 31/07S US TREASURY NOTES Series AE-2018 1.25 13-18 31/10S US TREASURY NOTES Series AG-2017 0.75 12-17 31/12S US TREASURY NOTES Series AG-2019 1.625 14-19 31/12S US TREASURY NOTES Series AJ-2018 1.00 15-18 15/02S US TREASURY NOTES Series AK-2018 1.00 15-18 15/03S US TREASURY NOTES Series AN-2018 1.125 15-18 15/06S US TREASURY NOTES Series AP-2018 0.875 15-18 15/07S US TREASURY NOTES Series AU-2017 1.00 14-17 15/12S US TREASURY NOTES Series B-2019 2.75 09-19 15/02S US TREASURY NOTES Series B-2022 2.00 12-22 15/02S US TREASURY NOTES Series C-2015 2.125 15-25 15/05 US TREASURY NOTES Series C-2018 3.875 08-18 15/05S US TREASURY NOTES Series C-2022 1.75 12-22 15/05S US TREASURY NOTES Series C-2024 2.50 14-24 15/05S US TREASURY NOTES Series E-2020 2.625 10-20 15/08S US TREASURY NOTES Series E-2024 2.375 14-24 15/08S US TREASURY NOTES Series F-2019 3.375 09-19 15/11S US TREASURY NOTES Series F-2025 2.00 15-22 30/11S US TREASURY NOTES Series K-2021 2.25 14-21 30/04S US TREASURY NOTES Series P-2018 1.50 11-18 31/08S US TREASURY NOTES Series S-2019 1.00 12-19 30/11S US TREASURY NOTES Series T-2021 2.125 14-21 31/12S US TREASURY NOTES Series Z-2020 1.50 15-20 31/05S USA T BOND 2.875 15-16 15/08S USA T NOTES 0.750 13-18 31/03S USA T NOTES 0.875 13-18 31/01S USA T NOTES 1.00 15-17 31/12S USA T NOTES 1.125 13-20 30/04S USA T NOTES 1.375 11-18 31/12S USA T NOTES 1.375 13-20 31/01S USA T NOTES 1.625 15-22 30/04S USA T NOTES 1.750 13-23 15/05S USA T NOTES 1.875 15-22 31/10S USA T NOTES 2.00 14-21 31/05S USA T NOTES 2.25 14-24 15/11S USA T NOTES 2.875 13-43 15/05S USA T-NOTES 1.00 12-19 31/08S USA TREASURY 6.50 96-26 15/11S USA TREASURY BOND 4.375 08-38 15/02S USA TREASURY BOND 6.375 97-27 15/08S USA TREASURY BONDS 3.375 14-44 15/05S USA TREASURY BONDS 3.75 13-43 15/11S USA TREASURY BONDS 4.75 07-37 15/02S USA TREASURY BONDS 6.125 99-29 15/08S USA TREASURY BONDS 8,75 90-20 15/08S USA TREASURY N/B 2.125 15-22 30/06S USA TREASURY NOTES 1.75 15-22 28/02S USA TREASURY NOTES 2.00 14-21 28/02S USA TREASURY NOTES 3.125 11-21 15/05S USA TREASURY NOTES 4.25 10-40 15/11S USA TREASURY NOTES 5.50 98-28 15/08S VERIZON COMM 1.35 14-17 09/06S WI TREASURY SEC. 3.00 15-45 15/05
Floating rate bonds US Dollar
1,500,000 CS NY
Market value
Unaudited accrued Interest
% of total net assets
2,852,832.03 2,584,863.80 5,201,367.74 3,120,937.50 2,039,941.41 3,972,656.24 6,289,563.40 1,308,093.74 5,051,367.20 5,048,828.15 3,022,148.55 3,479,574.23 4,037,968.76 5,020,469.03 8,030,429.76 10,586,748.67 2,997,187.50 8,307,457.03 2,460,240.63 2,953,007.79 2,660,891.63 8,851,878.17 6,292,042.19 1,945,050.90 7,623,859.39 1,741,320.36 5,200,781.25 4,994,882.80 2,050,546.92 5,085,546.90 4,647,360.00 4,075,312.52 6,451,845.72 2,548,632.90 5,996,718.72 2,453,354.12 5,017,773.45 5,026,953.15 3,032,109.75 3,720,089.93 2,519,336.40 4,750,671.99 3,036,679.68 3,084,375.00 2,005,148.44 2,869,125.45 2,509,667.98 1,435,234.67 855,867.19 1,442,617.19 2,814,258.60 3,018,848.60 966,382.82 1,463,203.29 3,981,679.68 3,397,453.92 2,018,828.12 4,528,797.69 2,701,074.23 2,518,243.14 1,376,367.71 499,750.00 2,569,824.23
2,952,343.75 2,636,718.75 5,276,171.90 3,181,406.25 2,210,156.25 4,060,937.52 6,378,312.50 1,288,218.75 5,077,539.05 5,080,078.15 3,042,890.64 3,510,117.21 4,112,500.00 5,034,375.00 8,057,500.00 10,609,921.87 3,016,992.18 8,353,171.87 2,531,343.74 3,145,312.50 2,750,718.75 8,819,398.47 6,821,703.13 2,066,398.45 7,702,312.54 1,832,281.25 5,437,500.00 5,238,281.25 2,118,125.00 5,096,679.70 4,875,794.69 4,221,250.00 6,604,699.25 2,815,429.70 6,017,812.50 2,462,058.60 5,032,812.50 5,052,343.75 3,054,375.00 3,773,421.87 2,585,742.20 4,853,484.38 3,120,703.14 3,143,671.89 2,083,300.79 3,157,656.26 2,520,898.45 1,483,828.13 928,687.50 1,497,421.88 3,090,429.70 3,307,812.50 1,043,437.50 1,532,500.00 3,958,359.39 3,483,304.70 2,068,906.26 4,606,250.00 2,752,734.37 2,737,617.18 1,432,109.38 501,150.00 2,883,984.38
29,189.56 19,848.90 0.00 27,848.36 25,920.33 20,741.76 10,361.64 17,934.07 0.00 28,519.92 6,216.03 0.00 0.00 18,579.23 23,260.87 4,841.19 12,043.27 3,401.64 24,659.34 22,417.58 6,906.25 40,203.13 14,426.56 5,937.50 70,615.38 15,085.16 21,093.75 8,219.18 7,500.00 24,864.13 3,968.03 0.00 8,150.14 26,854.40 11,188.52 8,893.03 0.00 9,375.00 0.00 21,104.74 6,770.83 10,281.25 9,375.00 5,054.35 5,484.38 10,062.50 8,424.66 8,125.00 10,625.00 23,818.68 10,546.88 11,718.75 12,423.08 22,884.62 98,076.92 0.00 11,730.77 29,573.77 9,765.63 10,359.38 20,549.45 393.75 9,375.00
0.83 0.74 1.48 0.89 0.62 1.14 1.78 0.36 1.42 1.42 0.85 0.98 1.15 1.41 2.25 2.98 0.84 2.34 0.71 0.88 0.77 2.47 1.91 0.58 2.15 0.51 1.52 1.47 0.59 1.43 1.36 1.18 1.85 0.79 1.68 0.69 1.41 1.41 0.85 1.06 0.72 1.36 0.87 0.88 0.58 0.88 0.71 0.42 0.26 0.42 0.86 0.93 0.29 0.43 1.11 0.97 0.58 1.29 0.77 0.77 0.40 0.14 0.81
6,361,772.64
6,385,437.60
11,573.13
1.79
6,361,772.64 1,500,000.00
6,385,437.60 1,496,370.00
11,573.13 3,431.57
1.79 0.42
Cost
FL.R 15-18 29/01Q
The accompanying notes are an integral part of these financial statements.
Page 135
UBAM - US DOLLAR BOND Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Cost
Market value
Unaudited accrued Interest
% of total net assets
855,381.80 1,000,000.00 500,000.00 1,500,000.00 1,006,390.84
860,352.60 1,028,750.00 498,500.00 1,498,845.00 1,002,620.00
1,343.84 5,675.41 45.42 167.51 909.38
0.24 0.29 0.14 0.42 0.28
1,997,740.00
2,051,718.00
1,433.33
0.57
1,997,740.00
2,051,718.00
1,433.33
0.57
1,997,740.00 1,997,740.00
2,051,718.00 2,051,718.00
1,433.33 1,433.33
0.57 0.57
339,290,005.63
351,970,171.51
98.47
Cash at banks/(bank liabilities)
3,143,152.63
0.88
Other net assets/(liabilities)
2,338,578.75
0.65
357,451,902.89
100.00
Description
860,000 1,000,000 500,000 1,500,000 1,000,000
FORD MOTOR CREDIT FL.R 14-16 08/11Q GENERAL MOTORS FIN FL.R 15-19 15/01Q MIZUHO BANK LTD FL.R 14-17 25/09Q UBS AG STAMFORD FL.R 15-18 26/03Q VERIZON COMMUNICATION FL.R 13-16 15/09Q
Other transferable securities Bonds US Dollar
2,000,000 NEW YORK LIFE GLB 144A 2.15 14-19 18/06S
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 136
UBAM - US DOLLAR BOND
Geographical classification of investments (by domicile of the issuer) United States of America Japan Canada Australia United Kingdom South Korea The Netherlands France Italy Colombia
% of net assets 93.29 1.38 0.97 0.72 0.63 0.56 0.35 0.24 0.22 0.11 98.47
Industrial classification of investments % of net assets 87.22 6.83 2.76 0.72 0.42 0.14 0.14 0.13 0.11
Countries and central government Banks and credit institutions Holding and finance companies Communications Utilities Foods and non alcoholic drinks Retail trade, department stores Biotechnology Petroleum
98.47
Page 137
UBAM - US DOLLAR BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
3,638,595.17
Interest on bonds and other debt securities, net Interest on bank accounts Interest received on swap contracts Other income
Note 2 Note 2
Expenses
3,592,636.31 2,145.95 43,646.78 166.13 1,367,042.92
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Interest paid on swap contracts Other expenses
Note 3 Note 5
Note 2 Note 6, 7 Note 2
Net investment income
696,286.93 163,800.68 73,787.20 158,561.38 3,489.12 750.85 4,369.20 13,930.67 185,604.12 81.82 54,069.41 12,311.54 2,271,552.25
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-198,462.69 73,945.26 353,503.90 197,377.04 -1,419.77 2,696,495.99
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - swap contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
11,205,875.15 -70,999.81 553,386.25 -141,210.12 14,243,547.46
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-305,425.69 241,123,508.10 13,227,310.12 -81,562,529.32 -4,624,654.66
Total changes in net assets
182,101,756.01
Total net assets at the beginning of the period
175,350,146.88
Total net assets at the end of the period
357,451,902.89
The accompanying notes are an integral part of these financial statements.
Page 138
UBAM - EM INVESTMENT GRADE CORPORATE BOND*
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
87,461,352.07
Securities portfolio at market value Cash at banks Deposits on futures and option contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Other receivables
Note 2
81,346,684.19 5,035,882.59 99,593.29 788,154.67 182,506.08 8,531.25
Liabilities
1,467,720.84
Bank liabilities Payable on purchases of securities Unrealised loss on forward foreign exchange contracts Unrealised loss on futures contracts Interest payable on bank liabilities and expenses payable
844.14 995,899.31 280,093.38 32,443.76 158,440.25
Note 2, 8 Note 2, 9
Net assets at the end of the period
85,993,631.23
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares
AH GBP shares
Capitalisation shares
AS shares
Capitalisation shares
I shares
Capitalisation shares
IH EUR shares
Capitalisation shares Distribution shares
IH CHF shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
13,399.000
499,231.000
32,168.000
480,462.000
5,233.000
20,958.000
2,618.000
23,573.000
0.000
35,388.000
640.000
34,748.000
2,000.000
11,237.000
0.000
13,237.000
0.000
1,484.000
0.000
1,484.000
0.000
2,175.000
0.000
2,175.000
19,639.566
397.000
6,807.000
13,229.566
75,199.419
14,974.000
15,408.419
74,765.000
8,633.145
74,977.134
0.560
83,609.719
0.000
20,502.000
621.000
19,881.000
420.000
2,800.000
0.000
3,220.000
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 139
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EM INVESTMENT GRADE CORPORATE BOND* Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
IS shares
Capitalisation shares
IHS EUR shares
Capitalisation shares
UH GBP shares
Distribution shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
25,350.000
0.000
2,000.000
23,350.000
28,504.000
0.000
28,504.000
0.000
0.000
20,662.000
0.000
20,662.000
10.000
0.000
0.000
10.000
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
85,993,631.23
18,622,969.72
30,777,714.46
USD
USD
USD
480,462.000 105.74
13,399.000 100.04
9,620.000 101.83
23,573.000 98.75 3.19
5,233.000 96.49 4.30
6,284.000 102.42 -
EUR
EUR
EUR
34,748.000 101.52
-
-
13,237.000 97.11 3.16
2,000.000 95.42 -
-
CHF
CHF
CHF
1,484.000 100.99
-
-
GBP
GBP
GBP
2,175.000 101.25
-
-
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 140
UBAM - EM INVESTMENT GRADE CORPORATE BOND* Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AS shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IS shares Capitalisation shares Number of shares outstanding Net asset value per share
IHS EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
UH GBP shares Distribution shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
85,993,631.23
18,622,969.72
30,777,714.46
USD
USD
USD
13,229.566 100.87
19,639.566 99.65
32,458.566 102.12
USD
USD
USD
74,765.000 112.48
75,199.419 105.94
22,103.419 106.84
EUR
EUR
EUR
83,609.719 102.94
8,633.145 97.47
-
19,881.000 101.18
-
-
CHF
CHF
CHF
3,220.000 101.84
420.000 96.72
-
USD
USD
USD
23,350.000 102.38
25,350.000 100.81
147,999.000 102.64
EUR
EUR
EUR
-
28,504.000 101.25
66,248.000 103.36
GBP
GBP
GBP
20,662.000 101.34
-
-
USD
USD
USD
10.000 112.25
10.000 106.31
10.000 108.47
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 141
UBAM - EM INVESTMENT GRADE CORPORATE BOND* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
440,000 270,000 480,000 200,000 210,000 300,000 200,000 200,000 410,000 150,000 280,000 200,000 400,000 200,000 100,000 340,000 630,000 200,000 130,000 200,000 210,000 270,000 200,000 360,000 270,000 350,000 410,000 140,000 200,000 570,000 200,000 380,000 140,000 410,000 210,000 270,000 340,000 220,000 340,000 200,000 200,000 410,000 270,000 200,000 340,000 200,000 270,000 200,000 200,000 300,000 200,000 200,000 200,000 200,000 270,000 270,000 200,000 260,000 100,000 230,000 140,000 400,000
Market value
Unaudited accrued Interest
% of total net assets
79,635,768.52
80,466,957.69
780,496.48
93.58
74,927,130.57
75,738,543.89
740,404.63
88.08
74,927,130.57 435,644.61 327,402.00 494,928.00 199,820.33 207,659.17 305,655.88 203,049.44 209,520.00 405,428.53 151,553.00 296,128.67 201,892.78 401,040.00 206,500.00 110,161.33 404,457.66 656,954.01 207,020.00 138,138.61 205,770.78 211,596.60 274,083.15 206,020.22 357,786.75 279,477.94 375,410.08 438,200.30 153,874.00 200,020.50 625,093.60 213,868.33 397,370.02 156,511.78 385,371.63 206,608.50 299,727.13 372,334.61 237,622.22 354,484.44 214,725.56 205,558.69 441,553.99 273,186.63 181,980.58 336,209.50 197,770.61 288,927.75 199,320.11 220,020.22 333,817.67 208,335.22 216,020.00 225,520.08 240,186.44 282,127.18 268,542.50 203,603.11 269,776.50 114,385.67 227,381.49 154,014.93 405,346.67
75,738,543.89 456,020.40 347,125.50 499,161.60 200,942.00 211,669.50 307,839.00 205,534.00 217,068.00 413,882.70 153,847.50 299,157.60 202,750.00 412,064.00 207,640.00 110,814.00 416,874.00 659,364.30 208,740.00 138,932.30 206,184.00 213,876.60 278,110.80 209,446.00 361,800.00 282,900.60 382,725.00 444,128.40 155,253.00 201,000.00 627,627.00 213,730.00 405,156.00 158,069.80 402,738.90 206,761.80 301,752.00 373,371.00 239,582.20 361,892.60 215,838.00 208,890.00 445,575.70 277,438.50 189,878.00 343,801.20 200,374.00 291,249.00 204,382.00 222,398.00 336,648.00 209,544.60 218,552.00 226,668.00 242,084.00 288,095.40 275,119.20 205,966.00 270,953.80 114,862.00 229,399.70 156,191.00 406,496.00
740,404.63 7,443.33 3,071.25 6,840.00 1,604.17 840.00 2,223.96 1,937.78 2,600.00 5,253.13 1,375.00 3,879.17 444.44 1,280.00 1,000.00 1,250.00 5,206.25 7,501.73 3,725.00 2,898.82 2,750.00 5,323.65 840.00 3,088.89 990.00 2,906.25 1,561.88 4,104.27 1,344.00 1,737.50 12,214.63 4,252.08 2,480.56 3,906.39 939.58 433.00 4,556.25 6,752.78 3,788.89 3,572.36 1,670.14 494.44 6,362.12 1,830.94 6,254.17 4,072.92 1,002.78 6,600.00 1,581.94 1,555.56 2,291.67 3,101.39 2,125.00 229.17 6,157.78 1,912.50 1,443.75 1,397.78 5,525.00 875.00 2,367.08 2,173.89 1,424.94
88.08 0.53 0.40 0.58 0.23 0.25 0.36 0.24 0.25 0.48 0.18 0.35 0.24 0.48 0.24 0.13 0.48 0.77 0.24 0.16 0.24 0.25 0.32 0.24 0.42 0.33 0.45 0.52 0.18 0.23 0.73 0.25 0.47 0.18 0.47 0.24 0.35 0.43 0.28 0.42 0.25 0.24 0.52 0.32 0.22 0.40 0.23 0.34 0.24 0.26 0.39 0.24 0.25 0.26 0.28 0.34 0.32 0.24 0.32 0.13 0.27 0.18 0.47
Cost
US Dollar
ABU DHABI NAT ENERGY 3.625 12-23 12/01S ABU DHABI NAT ENERGY 6.50 06-36 27/10S ADCB FINANCE CAYMAN 4.50 13-23 06/03S ADCB FINANCE CAYMAN L 2.625 15-20 10/03S AFREXIMBANK 4.00 16-21 24/05S AFRICA FINANCE CORP 4.375 15-20 29/04S AIA GR REGS 3.20 15-25 11/03S AIA GROUP 4.50 16-46 16/03S AKBANK REGS 5.125 15-25 31/03S AKBANK TAS REGS 5.00 12-22 24/10S ALFA REGS 5.25 14-24 25/03S ALIBA GROUP 2.50 15-19 28/11S ALIBABA GROUP 3.60 15-24 28/11S ALPEK REGS 4.50 12-22 20/11S AMERICA MOVIL 5.00 10-20 30/03S AMERICA MOVIL 6.125 10-40 30/03S ANGLO ASH HOLDINGS 5.375 10-20 15/04S ARAUCO 4.50 14-24 01/08S ARAUCO 4.75 12-22 11/01S BAHRAIN 5.50 10-20 31/03S BAHRAIN REGS 6.125 13-23 01/08S BAIDU 3.50 12-22 28/11S BANCO CREDITO REGS 4.00 13-23 11/02S BANCO INBURSA 4.125 14-24 06/06S BANCO SANTANDER REGS 3.875 12-22 20/09S BANCOLOMBIA 5.95 11-21 03/06S BANGKOK BK HK REGS 3.875 12-22 27/09S BANGKOK BK PUB REGS 4.80 10-20 18/10S BANK ABU DHABI REGS 2.25 15-20 11/02S BANK CHINA HK 5.55 10-20 11/02S BANK OF BARODA REGS 4.875 14-19 23/07S BANK OF CHINA 5.00 14-24 13/11S BANK OF EAST ASIA SUB 6.125 10-20 16/07S BANK OF KAZAKHSTAN 4.125 12-22 10/12S BANK OF SHARJAH 3.374 15-20 08/06S BBVA BANCOMER REGS 6.75 12-22 30/09S BBVA BANCOMER SA TEXA 6.50 11-21 10/03S BBVA REGS 5.00 12-22 26/08S BCO CREDITO DEL PERU 4.25 13-23 01/04S BHARAT PETROLEUM 4.625 12-22 25/10S BHARTI AIRTEL REGS 4.45 15-25 10/06S BHARTI AIRTEL REGS 5.125 13-23 11/03S BOC AVIATION REGS 3.875 16-26 27/04S BRASKEM AMERICA REGS 7.125 11-41 22/07S BRASKEM SA REGS 5.75 11-21 15/04S BRF REGS 4.75 14-24 22/05S CENCOSUD SA 5.50 11-21 20/01S CHINA CINDA FIN REGS 4.25 15-25 23/04S CHINA MERCHANTS FIN 5.00 12-22 04/05S CHINA OVERSEA FIN 5.50 10-20 10/11S CHINA RAILWAY RES 3.85 13-23 05/02S CHINA RESOURCES REGS 4.50 12-22 05/04S CITI BANK INTL 6.875 10-20 24/06S CITI PACIFIC REGS 4 6.80 12-23 17/01S CNOOC FIN 2014 4.25 14-24 30/04S CNOOC FIN 2015 3.50 15-25 05/05S CNPC GEN CAP REGS 3.40 13-23 16/04S COLBUN REGS 4.50 14-24 10/07S COMMERCIAL BK QATAR 7.50 09-19 18/11S COSL FIN BVI REGS 3.25 12-22 06/09S CREDITO DEL PERU REG-S5.375 10-20 16/09S CSCEC FIN CYM 2.95 15-20 19/11S
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 142
UBAM - EM INVESTMENT GRADE CORPORATE BOND* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
270,000 200,000 270,000 740,000 660,000 700,000 110,000 340,000 270,000 210,000 270,000 140,000 150,000 480,000 200,000 200,000 200,000 140,000 210,000 540,000 410,000 200,000 270,000 150,000 270,000 270,000 280,000 200,000 200,000 410,000 270,000 130,000 270,000 270,000 200,000 300,000 200,000 800,000 210,000 210,000 310,000 950,000 1,110,000 820,000 570,000 200,000 900,000 400,000 200,000 340,000 650,000 470,000 280,000 200,000 270,000 410,000 340,000 410,000 350,000 810,000 310,000 200,000 270,000 740,000 330,000 270,000 340,000
DBS BANK REGS 3.625 12-22 21/09S DOLPHIN ENERGY REGS 5.50 12-21 15/12S DP WORLD LTD 3.25 15-20 18/05S DP WORLD REG S 6.85 07-37 02/07S ECOPETROL 5.875 14-45 28/05S ECOPETROL SA 5.375 15-26 26/06S EMBRAER NETHERLANDS 5.05 15-25 15/06S EMIRATES NBD 3.25 14-19 19/11S ENN ENERGY HOLDINGS 6.00 11-21 13/05S EXPORT-IMPORT IND REGS 4.00 13-23 14/01S FIBRIA 5.25 14-24 12/05S FLEXTRONICS INTL L 4.625 13-20 15/02S FOMENTO ECONOMICO 4.375 13-43 10/05S FORMOSSA GROUP 3.375 15-25 22/04S FRANSHION BRILLIANT 5.75 14-19 19/03S FRANSHION DEVLT 6.75 11-21 15/04S FRESNILLO REG S 5.50 13-23 13/11S GAZ CAPITAL 6.51 07-22 07/03S GERDAU TRADE REGS 5.75 10-21 30/01S GLOBAL LOGISTIC PROP 3.875 15-25 04/06 GPN CAPITAL REGS 6.00 13-23 27/11S GRUOP TELEVISA 5.00 14-45 13/05S GRUPO INVERSION REGS 5.50 16-26 29/04S GTL TRADE REGS 5.893 14-24 29/04S HANA BANK REGS SUB 4.375 14-24 30/09S HONGKONG LAND FINANCE 4.50 10-25 07/10S HONGKONG LAND FINANCE 4.50 12-22 01/06S HUARONG FINANCE 5.50 15-25 16/01S HUARONG FINANCE II 4.50 15-20 16/01S HUTCHISON WHAMPOA 3.625 14-24 31/10S HYUNDAI CAP AM REG 3.00 15-20 30/10S HYUNDAI CAP REGS 2.55 14-19 06/02S ICBC B REGS 4.875 15-25 21/09S ICICI BANK REGS 5.75 10-20 16/11S ICICI BANK TR5 REGS 4.80 13-19 22/05S INDIAN OIL 5.625 11-21 02/08S INDIAN OIL REGS 5.75 13-23 01/08S INTERBANK PEROU REG S 5.75 10-20 07/10S INVERSIONES CMPC 4.375 13-23 15/05S INVERSIONES CMPC 4.75 14-24 15/09S IOI INVESTMENT 4.375 12-22 27/06S ISRAEL CHEMICAL REGS 4.50 14-24 02/12S ISRAEL ELECTRIC CORP 5.00 14-24 12/11S ISRAEL ELECTRIC REG S 7.25 08-19 15/01S ISRAEL ELECTRIC REGS 6.875 13-23 21/06S ITAU CORP REGS 3.875 14-19 22/09S KAZAK.TEMIR.ZHOL 6.375 10-20 06/10S KAZMUNAIGAZ FIN. REGS 6.375 10-21 09/04S KLABIN FIN REGS 5.25 14-24 16/07S KOC HLDG REGS 3.50 13-20 24/04S KOC HLDG REGS 5.25 16-23 15/03S KOR HYDRO NUCL REG S 3.00 12-22 19/09S KOREA HYDRO 4.75 11-21 13/07S KUNLUN ENERGY 3.75 15-25 13/05S KUWAIT PROJ REGS 4.80 14-19 05/02S KUWAIT PROJECTS CO 5.00 16-23 15/03S KUWAIT PROJECTS EMTN 9.375 10-20 15/07S LUKOIL INT REG S 6.125 10-20 09/11S LUKOIL INTL FIN REGS 4.563 13-23 24/04S MAG GLB SEC REGS 4.75 14-24 07/05S MEXICHEM REGS 4.875 12-22 19/09S MEXICHEM REGS 5.875 14-44 17/09S MMC FINANCE REGS 5.55 13-20 28/10S MMC NORILSK 6.625 15-22 14/10S MTN MAURITIUS INV REGS4.755 14-24 11/11S MYRIAD INTL HLD REGS 6.00 13-20 18/07S MYRIAD INTL HOLDIN 5.50 15-25 21/07S
Cost
Market value
Unaudited accrued Interest
% of total net assets
275,697.63 224,770.67 273,402.50 796,114.41 554,466.79 664,240.65 108,361.92 347,259.19 304,028.10 219,274.98 275,427.13 145,964.42 154,900.40 483,439.20 214,395.56 228,645.00 216,020.44 152,719.82 195,321.88 550,854.63 429,004.17 188,573.22 275,994.00 127,515.17 286,902.06 303,777.50 312,701.20 213,895.44 210,365.00 430,243.85 277,293.20 131,886.93 279,337.48 301,890.58 213,548.33 335,280.13 225,255.89 889,636.26 215,796.50 218,946.50 317,781.13 972,558.50 1,193,931.83 910,794.50 678,327.58 208,520.64 941,440.30 431,408.83 198,020.83 338,334.44 670,853.75 493,547.33 315,759.69 202,820.67 285,214.50 427,978.89 422,059.46 445,404.45 348,285.95 845,461.63 327,081.33 182,020.39 287,239.50 813,229.28 305,283.86 296,183.25 351,509.33
275,956.20 227,624.00 275,707.80 815,065.60 573,540.00 681,898.00 108,991.30 349,992.60 307,079.10 220,636.50 277,184.70 148,125.60 157,662.00 488,880.00 215,714.00 229,622.00 215,842.00 155,619.80 203,032.20 553,240.80 440,877.10 191,968.00 281,664.00 133,278.00 289,591.20 309,020.40 315,940.80 219,464.00 211,950.00 435,994.00 280,052.10 132,614.30 285,246.90 302,794.20 213,258.00 336,000.00 226,380.00 888,368.00 216,447.00 219,882.60 322,447.74 975,650.00 1,200,498.30 911,446.40 678,978.30 208,804.00 950,220.00 437,816.00 198,186.00 340,928.20 675,031.50 496,860.50 317,814.00 206,302.00 285,284.70 429,327.40 423,463.20 448,499.00 355,526.50 854,355.60 327,663.80 184,136.00 287,236.80 823,368.40 320,651.10 296,179.20 355,371.40
2,691.56 458.33 1,023.75 21,733.44 3,446.67 418.06 231.46 1,258.47 2,115.00 3,873.33 1,890.00 2,428.13 911.46 3,060.00 3,226.39 2,812.50 1,436.11 2,860.78 5,031.25 1,511.25 2,255.00 1,305.56 2,516.25 1,497.80 2,953.13 2,801.25 1,015.00 5,011.11 4,100.00 2,477.08 1,350.00 1,326.00 3,619.69 1,897.50 1,173.00 6,937.50 4,759.72 11,084.08 1,148.44 2,909.38 113.02 3,325.00 7,608.00 27,247.92 1,266.06 2,109.72 13,776.36 5,737.50 4,783.33 2,181.67 9,989.00 3,955.83 6,169.72 979.17 5,220.00 5,979.17 14,609.38 3,557.60 2,927.93 5,795.76 4,239.90 3,361.81 2,580.75 10,386.50 2,135.79 7,290.00 8,259.17
0.32 0.26 0.32 0.95 0.67 0.79 0.13 0.41 0.36 0.26 0.32 0.17 0.18 0.57 0.25 0.27 0.25 0.18 0.24 0.64 0.51 0.22 0.33 0.15 0.34 0.36 0.37 0.26 0.25 0.51 0.33 0.15 0.33 0.35 0.25 0.39 0.26 1.03 0.25 0.26 0.37 1.13 1.41 1.06 0.79 0.24 1.10 0.51 0.23 0.40 0.78 0.58 0.37 0.24 0.33 0.50 0.49 0.52 0.41 0.99 0.38 0.21 0.33 0.96 0.37 0.34 0.41
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 143
UBAM - EM INVESTMENT GRADE CORPORATE BOND* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
60,000 110,000 270,000 200,000 540,000 540,000 750,000 210,000 240,000 240,000 790,000 340,000 270,000 200,000 740,000 610,000 410,000 270,000 200,000 470,000 270,000 330,000 260,000 270,000 380,000 650,000 200,000 410,000 270,000 200,000 210,000 620,000 350,000 270,000 200,000 200,000 200,000 210,000 250,000 270,000 200,000 270,000 270,000 200,000 220,000 260,000 270,000 410,000 400,000 810,000 230,000 200,000 200,000 400,000 200,000 350,000 270,000 270,000 270,000 9,300,000 310,000 310,000 640,000 910,000 540,000 200,000
NEXEN INC 5.875 05-35 10/03S NEXEN INC 6.40 07-37 15/05S NTPC LTD 4.375 14-24 26/11S NTPC LTD 4.75 12-22 03/10S OCBC SUB REGS 4.25 14-24 19/06S OCP REGS 4.50 15-25 22/10S OCP SA 5.625 14-24 25/04S OIL INDIA LTD 5.375 14-24 17/04S OMAN GO9V INTL REGS 3.625 16-21 15/06S ONCG VIDESH REGS 4.625 14-24 15/07S ORLEODUCTO CENTR REGS 4.00 14-21 07/05S PCCW-HKTC CAPITAL 3.625 15-25 02/04S PCCW-HKTC CAPITAL REGS3.75 13-23 08/03S PERTAMINA REG S 5.25 11-21 23/05S PERUSAHAAN GAS REG S 5.125 14-24 16/05S PERUSAHAAN PERSEROAN 5.50 11-21 22/11S PKO FINANCE AB 4.63 12-22 26/09S POSCO REG-S 4.25 10-02 28/10S POWER GRID INDIA 3.875 13-23 17/01S PTT GLB CHEM REGS 4.25 12-22 19/02S PTT PCL REGS 4.50 12-42 25/10S PTT REGS 3.375 12-22 25/10S PTTEP CANADA REGS 5.692 10-15 19/07S QNB FINANCE LTD 2.875 13-20 29/04S QTEL INTL FIN 4.75 10-21 16/02S QTEL INTL REGS 3.25 12-23 21/02S RAKFUNDING CAYMAN 3.25 14-19 24/06S RELIANCE HLDGS REGS 5.40 12-22 14/02S RELIANCE INDUSTRIES L 4.125 15-25 28/01S SACI FALABELLA REGS 3.75 13-23 30/04S SANTANDER BR REGS 4.125 12-22 09/11S SASOL FIN INTL 4.50 12-22 14/11S SHK PROP 4.50 12-22 14/02S SIAM COMMERCIAL REGS 3.50 14-19 07/04S SIGMA ALIMENTOS RE 4.125 16-26 02/05S SINGTEL GROUP TREASURY4.50 11-21 08/09S SINO OCEAN 6.00 14-24 30/07S SOUTHERN COPPER 5.25 12-42 08/11S SOUTHERN COPPER CORP 5.875 15-45 23/04S STATE BANK OF INDIA 4.875 14-24 17/04S STATE BK INDIA REGS 3.622 14-19 17/04S SUAM FINANCE BV REGS 4.875 14-24 17/04S SWIRE PACIFIC 4.50 12-22 28/02S SWIRE PACIFIC MTN 4.375 12-22 18/06S SWIRE PACIFIC REGS 36 4.50 13-23 09/10S TELEFONICA CHILE REGS 3.875 12-22 12/10S TENCENT HLDG REGS TR2 3.375 12-18 05/03S TEVA PHARMA FINANCE 2.95 12-22 18/02S TEVA PHARMAC.FINANCE 6.15 06-36 01/02S TGI INTERNATIONAL 5.70 12-22 20/03S THAI OIL REGS 3.625 13-23 23/01S THAI OIL REGS 4.875 13-43 23/01S THE LINK 3.60 14-24 03/09S TURK GARANTI BK REGS 5.25 12-22 13/09S TURK TELEKOM REGS 3.75 14-19 19/06S TURK TELEKOM REGS 4.875 14-24 19/06S TURKCELL ILETISIM 5.75 15-25 15/10S TURKIYE GARANTI BANK 4.75 14-19 17/10S TURKIYE IS BANKASI 5.00 14-21 25/06S US TREASURY NOTES Series AK-2018 1.00 15-18 15/03S VALE OVERSEAS 4.375 12-22 11/01S VALE OVERSEAS GTD 6.875 06-36 21/11S VEB FINANCE REG S 6.902 10-20 09/07S VEB FINANCE REGS 4.224 13-18 21/11S WOORI BANK 4.75 14-24 30/04S YAPI 4.00 13-20 22/01S
Cost
Market value
Unaudited accrued Interest
% of total net assets
68,989.06 134,211.33 284,125.61 217,300.67 570,097.40 525,879.00 793,200.06 229,283.67 239,728.80 253,018.80 769,879.89 354,041.12 285,996.53 210,761.67 773,929.99 659,471.31 426,441.60 289,760.83 206,020.94 508,578.49 273,002.40 341,515.60 293,592.97 275,765.44 413,288.56 644,378.32 201,827.11 455,395.70 275,781.51 204,020.50 215,009.38 615,412.38 390,521.50 279,644.90 199,645.92 224,018.00 213,020.00 177,021.98 223,739.49 298,008.70 207,336.36 274,752.25 299,398.35 222,830.25 242,712.80 267,176.21 279,554.51 411,271.12 473,960.67 844,632.25 235,363.17 205,054.33 208,902.00 413,721.00 202,770.83 346,534.15 271,040.13 277,452.88 270,365.00 9,337,418.69 284,665.94 263,328.58 694,945.59 927,192.14 564,705.75 198,020.22
71,625.00 139,235.80 287,064.00 220,578.00 572,691.60 529,767.00 796,995.00 231,758.10 241,533.60 256,264.80 771,356.00 358,679.60 288,430.20 214,748.00 782,616.60 664,595.00 429,425.80 292,574.70 207,680.00 512,812.30 280,222.20 345,318.60 298,545.00 276,847.20 419,064.00 658,859.50 201,996.00 459,036.00 279,771.30 204,944.00 217,102.20 622,070.80 392,542.50 280,854.00 202,314.00 225,777.20 215,118.00 186,925.20 236,600.00 301,001.40 207,614.00 279,844.20 303,299.10 223,488.00 247,291.00 269,458.80 279,979.20 417,277.50 486,408.00 845,380.80 238,521.50 216,148.00 210,870.00 415,460.00 203,414.00 349,709.50 276,061.50 278,051.40 274,671.00 9,366,843.75 291,043.50 286,653.90 696,819.20 928,254.60 570,580.20 199,874.00
1,077.08 880.00 1,115.63 2,295.83 701.25 4,590.00 7,617.19 2,288.85 362.50 5,087.50 4,984.78 3,012.78 3,150.00 1,079.17 4,635.28 3,541.39 4,956.67 1,976.25 3,509.03 5,604.10 2,193.75 2,010.94 3,494.26 1,315.31 6,718.61 7,569.79 108.33 8,364.00 4,702.50 1,250.00 1,227.19 3,565.00 5,950.00 2,178.75 1,329.17 2,800.00 5,000.00 1,592.50 2,733.51 2,669.06 1,468.92 2,669.06 4,117.50 291.67 2,227.50 2,182.92 1,468.13 403.17 10,181.67 13,299.33 3,636.08 4,252.08 2,340.00 6,386.83 229.17 521.35 3,234.38 2,600.63 187.50 27,040.76 6,366.84 2,308.85 21,000.63 4,457.16 4,275.00 3,511.11
0.08 0.16 0.33 0.26 0.67 0.62 0.93 0.27 0.28 0.30 0.90 0.42 0.34 0.25 0.91 0.77 0.50 0.34 0.24 0.60 0.33 0.40 0.35 0.32 0.49 0.77 0.23 0.53 0.33 0.24 0.25 0.72 0.46 0.33 0.24 0.26 0.25 0.22 0.28 0.35 0.24 0.33 0.35 0.26 0.29 0.31 0.33 0.49 0.57 0.98 0.28 0.25 0.25 0.48 0.24 0.41 0.32 0.32 0.32 10.90 0.34 0.33 0.81 1.08 0.66 0.23
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 144
UBAM - EM INVESTMENT GRADE CORPORATE BOND* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Floating rate bonds 270,000 200,000 200,000 200,000 340,000 500,000 770,000 310,000 200,000 540,000 540,000 540,000
US Dollar
BK OF COMMUNICAT SUB FL.R 14-24 03/10S CHINA CONST ASIA FL.R 14-24 20/08S CHINA CONST BANK FL.R 15-25 13/05S CHINA LIFE INSURANCE FL.R 15-75 03/07S CLP POWER HK FIN FL.R 14-XX 07/11S DP WORLD CRESCENT FL.R 16-23 31/05S EMIRATES NBD PJSC FL.R 13-23 28/03S LI & FUNG FL.R 12-XX 25/05S NBK TIER 1 FNC SUB FL.R 15-XX 09/04S OCBC REGS FL.R 14-24 15/10S PTT EXPLOR. PROD REGS FL.R 14-XX 18/06S UOB SUB FL.R 14-24 19/09S
Other transferable securities Bonds US Dollar
270,000 OVPH LTD 5.875 16-49 01/03S 590,000 VALE OVERSEAS 5.875 16-21 10/06S
Total investments in securities
Cost
Market value
Unaudited accrued Interest
% of total net assets
4,708,637.95
4,728,413.80
40,091.85
5.50
4,708,637.95 278,047.85 204,447.61 201,540.72 200,020.67 350,234.44 498,500.44 795,228.09 322,818.83 202,520.72 560,952.00 537,354.38 556,972.20
4,728,413.80 279,080.10 205,204.00 202,834.00 200,416.60 350,618.20 503,090.00 794,693.90 323,950.00 203,464.00 563,554.80 542,608.20 558,900.00
40,091.85 2,936.25 3,069.44 1,011.81 3,933.33 2,127.36 1,628.33 9,930.75 1,808.33 2,587.50 4,500.00 877.50 5,681.25
5.50 0.32 0.24 0.24 0.23 0.41 0.59 0.91 0.38 0.24 0.66 0.63 0.65
875,304.76
879,726.50
7,658.19
1.02
875,304.76
879,726.50
7,658.19
1.02
875,304.76 284,804.23 590,500.53
879,726.50 286,823.70 592,902.80
7,658.19 5,243.44 2,414.75
1.02 0.33 0.69
80,511,073.28
81,346,684.19
94.60
5,035,038.45
5.86
-388,091.41
-0.45
85,993,631.23
100.00
Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 145
UBAM - EM INVESTMENT GRADE CORPORATE BOND*
Geographical classification of investments (by domicile of the issuer) United States of America Cayman Islands Israel United Arab Emirates Turkey Mexico Colombia Singapore Hong Kong India British Virgin Islands Ireland Chile Thailand The Netherlands South Korea Bermuda Indonesia China Kazakhstan Morocco Isle of Man Panama United Kingdom Canada Luxembourg The Netherlands Antilles Peru Micronesian Islands Other
% of net assets 13.85 12.66 4.39 4.25 4.16 3.88 3.79 3.69 3.49 3.38 3.34 3.18 2.93 2.82 2.33 2.29 2.26 1.93 1.83 1.57 1.55 1.49 1.21 1.09 0.93 0.92 0.82 0.70 0.51 3.36 94.60
Page 146
UBAM - EM INVESTMENT GRADE CORPORATE BOND*
Industrial classification of investments % of net assets 26.88 17.94 11.67 9.05 4.02 3.95 3.59 3.25 3.03 1.67 1.33 1.24 1.16 0.91 0.75 0.72 0.65 0.59 0.58 0.38 0.34 0.25 0.24 0.23 0.18
Holding and finance companies Banks and credit institutions Countries and central government Petroleum Electrical engineering and electronics Communications Transportation Chemicals Utilities Miscellaneous services Building materials and trade Pharmaceuticals and cosmetics Real estate companies Paper and forest products Non-ferrous metals Insurance Internet and Internet services Miscellaneous sectors Retail trade, department stores Miscellaneous trading companies Coal mining and steel industry Machine and apparatus construction Foods and non alcoholic drinks Agriculture and fishery Tobacco and alcoholic drinks
94.60
Page 147
UBAM - EM INVESTMENT GRADE CORPORATE BOND* Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
226,425.82
Dividends, net Interest on bonds and other debt securities, net Interest on bank accounts
Note 2 Note 2
Expenses
43,443.00 181,931.92 1,050.90 231,604.30
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
147,033.38 29,221.15 9,431.81 18,338.61 539.09 1,064.45 3,017.67 1,425.49 19,600.89 1,931.76 -5,178.48
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2
Realised result
1,072,566.89 -98,177.29 -190,464.94 -212,411.98 566,334.20
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts
Note 2 Note 2 Note 2
Result of operations
719,478.19 -233,388.33 -46,928.13 1,005,495.93
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-45,369.79 67,175,082.19 8,620,707.02 -9,063,672.43 -321,581.41
Total changes in net assets
67,370,661.51
Total net assets at the beginning of the period
18,622,969.72
Total net assets at the end of the period
85,993,631.23
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 148
UBAM - EUROPEAN CONVERTIBLE BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
22,145,947.80
Securities portfolio at market value Cash at banks Unrealised gain on forward foreign exchange contracts
Note 2
21,852,362.12 213,370.21 80,215.47
Note 2, 8
Liabilities
56,918.67
Interest payable on bank liabilities and expenses payable
56,918.67
Net assets at the end of the period
22,089,029.13
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
Capitalisation shares
82,908.505
947.000
10,083.251
73,772.254
Distribution shares
11,722.000
0.000
397.000
11,325.000
24,375.039
0.000
280.000
24,095.039
36,830.195
1,570.000
2,460.000
35,940.195
37,062.589
3,235.681
15,095.053
25,203.217
8,142.458
1,290.012
0.000
9,432.470
Capitalisation shares
10.000
0.000
0.000
10.000
Distribution shares
10.000
0.000
0.000
10.000
10.000
12,492.000
180.000
12,322.000
Capitalisation shares
10.000
1,369.126
0.000
1,379.126
Distribution shares
10.000
0.000
0.000
10.000
758.067
0.000
107.067
651.000
A shares
AH CHF shares
Capitalisation shares
AH USD shares
Capitalisation shares
I shares
Capitalisation shares
IH CHF shares
Capitalisation shares
U shares
UH CHF shares
Capitalisation shares
UH USD shares
R shares
Capitalisation shares
The accompanying notes are an integral part of these financial statements.
Page 149
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EUROPEAN CONVERTIBLE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
22,089,029.13
25,242,909.56
15,669,965.42
EUR
EUR
EUR
73,772.254 114.55
82,908.505 123.00
92,178.642 119.93
11,325.000 107.23 1.19
11,722.000 116.37 1.15
3,611.000 114.53 1.38
CHF
CHF
CHF
24,095.039 109.57
24,375.039 117.96
2,617.000 116.09
USD
USD
USD
35,940.195 151.40
36,830.195 161.71
13,493.195 158.09
EUR
EUR
EUR
25,203.217 118.29
37,062.589 126.73
16,972.664 122.96
CHF
CHF
CHF
9,432.470 94.56
8,142.458 101.58
492.651 99.46
EUR
EUR
EUR
10.000 89.59
10.000 95.96
-
10.000 88.27 1.27
10.000 95.86 -
-
CHF
CHF
CHF
12,322.000 95.36
10.000 102.55
-
The accompanying notes are an integral part of these financial statements.
Page 150
UBAM - EUROPEAN CONVERTIBLE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets UH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
22,089,029.13
25,242,909.56
15,669,965.42
USD
USD
USD
1,379.126 96.40
10.000 102.82
-
10.000 94.82 1.35
10.000 102.63 -
-
EUR
EUR
EUR
651.000 112.55
758.067 121.24
491.725 119.15
The accompanying notes are an integral part of these financial statements.
Page 151
UBAM - EUROPEAN CONVERTIBLE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Currency
Open-ended investment funds Investment funds (UCITS) Euro
16,741 UBAM - CONVERTIBLES EUROPE -ZC- *
EUR
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
* Please refer to Note 16 The accompanying notes are an integral part of these financial statements.
Page 152
Market value
% of total net assets
22,961,293.44
21,852,362.12
98.93
22,961,293.44
21,852,362.12
98.93
22,961,293.44 22,961,293.44
21,852,362.12 21,852,362.12
98.93 98.93
22,961,293.44
21,852,362.12
98.93
213,370.21
0.97
23,296.80
0.11
22,089,029.13
100.00
Cost
UBAM - EUROPEAN CONVERTIBLE BOND
Geographical classification of investments (by domicile of the issuer) France
% of net assets 98.93 98.93
Industrial classification of investments % of net assets 98.93
Investment funds
98.93
Page 153
UBAM - EUROPEAN CONVERTIBLE BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
12.60
Interest on bank accounts Other income
7.40 5.20
Expenses
163,018.46
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
108,644.37 17,330.92 4,847.29 11,700.55 228.95 2,463.53 87.25 16,493.12 5.45 1,217.03 -163,005.86
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-164,609.98 -81,828.47 -2,551.51 -411,995.82
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-1,343,830.93 11,129.77 -1,744,696.98
Dividends paid Subscriptions capitalisation shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-13,846.53 2,038,712.71 -3,389,915.54 -44,134.09
Total changes in net assets
-3,153,880.43
Total net assets at the beginning of the period
25,242,909.56
Total net assets at the end of the period
22,089,029.13
The accompanying notes are an integral part of these financial statements.
Page 154
UBAM - EURO 10-40 CONVERTIBLE BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
540,225,448.03
Securities portfolio at market value Cash at banks Receivable on issues of shares
Note 2
536,255,952.96 3,828,312.72 141,182.35
Liabilities
1,678,631.65
Bank liabilities Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
509,925.25 116,910.44 1,051,795.96
Note 2, 8
Net assets at the end of the period
538,546,816.38
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
Capitalisation shares
1,144,570.464
108,210.573
419,939.891
832,841.146
Distribution shares
1,887,036.541
121,100.881
407,791.632
1,600,345.790
134,527.584
6,763.000
30,410.584
110,880.000
298,255.971
15,524.000
62,828.217
250,951.754
324,197.352
140,861.528
40,414.798
424,644.082
5,090.000
0.000
0.000
5,090.000
Capitalisation shares
886,125.860
146,592.032
477,058.999
555,658.893
Distribution shares
201,859.683
31,028.621
19,138.823
213,749.481
286,527.899
17,817.000
49,868.207
254,476.692
120,174.152
127,572.739
68,393.018
179,353.873
45,301.000
2,900.000
24,993.000
23,208.000
354,231.000
8,390.000
0.000
362,621.000
650.000
0.000
50.000
600.000
20,541.000
0.000
4,018.000
16,523.000
A shares
AH CHF shares
Capitalisation shares
AH USD shares
Capitalisation shares
AH SEK shares
Capitalisation shares
AH GBP shares
Capitalisation shares
I shares
IH CHF shares
Capitalisation shares
IH USD shares
Capitalisation shares Distribution shares
IH SEK shares
Capitalisation shares
IH GBP shares
Capitalisation shares Distribution shares
The accompanying notes are an integral part of these financial statements.
Page 155
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EURO 10-40 CONVERTIBLE BOND Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
U shares
Capitalisation shares Distribution shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
4,911.266
1,034.233
1,015.000
4,930.499
10.000
0.000
0.000
10.000
57,364.857
922.588
21,576.989
36,710.456
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
AH SEK shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
538,546,816.38
688,348,986.26
636,599,363.31
EUR
EUR
EUR
832,841.146 119.50
1,144,570.464 126.07
1,302,479.269 123.35
1,600,345.790 110.12 1.96
1,887,036.541 118.21 1.64
1,318,013.010 117.19 1.39
CHF
CHF
CHF
110,880.000 115.80
134,527.584 122.52
67,416.000 120.69
USD
USD
USD
250,951.754 104.18
298,255.971 109.46
265,716.209 106.97
SEK
SEK
SEK
424,644.082 909.08
324,197.352 961.32
-
GBP
GBP
GBP
5,090.000 104.62
5,090.000 110.09
5,340.000 107.39
The accompanying notes are an integral part of these financial statements.
Page 156
UBAM - EURO 10-40 CONVERTIBLE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH SEK shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
538,546,816.38
688,348,986.26
636,599,363.31
EUR
EUR
EUR
555,658.893 122.99
886,125.860 129.47
1,138,452.863 126.05
213,749.481 116.14 2.45
201,859.683 124.80 1.72
362,079.412 123.10 1.45
CHF
CHF
CHF
254,476.692 117.91
286,527.899 124.48
131,636.674 122.01
USD
USD
USD
179,353.873 115.15
120,174.152 120.71
114,240.366 117.38
23,208.000 108.75 2.28
45,301.000 116.37 1.60
8,210.000 114.64 1.35
SEK
SEK
SEK
362,621.000 965.12
354,231.000 1,018.34
660,438.000 994.35
GBP
GBP
GBP
600.000 97.86
650.000 102.75
600.000 99.73
16,523.000 100.92 2.12
20,541.000 108.15 1.49
3,724.000 106.36 1.25
EUR
EUR
EUR
4,930.499 94.90
4,911.266 99.99
4,234.266 97.53
10.000 93.10 1.96
10.000 100.18 1.39
10.000 99.04 -
The accompanying notes are an integral part of these financial statements.
Page 157
UBAM - EURO 10-40 CONVERTIBLE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
538,546,816.38
688,348,986.26
636,599,363.31
EUR
EUR
EUR
36,710.456 116.21
57,364.857 123.06
56,482.582 121.51
The accompanying notes are an integral part of these financial statements.
Page 158
UBAM - EURO 10-40 CONVERTIBLE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Currency
Open-ended investment funds Investment funds (UCITS) Euro
427,882 UBAM - CONVERTIBLES EURO 10-40 -ZC- *
EUR
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
* Please refer to Note 16 The accompanying notes are an integral part of these financial statements.
Page 159
Market value
% of total net assets
534,165,877.56
536,255,952.96
99.57
534,165,877.56
536,255,952.96
99.57
534,165,877.56 534,165,877.56
536,255,952.96 536,255,952.96
99.57 99.57
534,165,877.56
536,255,952.96
99.57
3,318,387.47
0.62
-1,027,524.05
-0.19
538,546,816.38
100.00
Cost
UBAM - EURO 10-40 CONVERTIBLE BOND
Geographical classification of investments (by domicile of the issuer) France
% of net assets 99.57 99.57
Industrial classification of investments % of net assets 99.57
Investment funds
99.57
Page 160
UBAM - EURO 10-40 CONVERTIBLE BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
152.55
Interest on bank accounts Other income
147.35 5.20
Expenses
3,227,965.13
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
1,996,271.40 436,249.97 104,080.12 296,992.23 5,582.72 979.74 8,078.05 1,799.46 304,484.61 73,446.83 -3,227,812.58
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
1,747,375.85 -1,559,816.26 253,323.46 -2,786,929.53
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-32,986,490.99 -2,110,707.59 -37,884,128.11
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-3,985,324.43 63,745,902.59 17,638,611.81 -138,013,817.83 -51,303,413.91 -149,802,169.88
Total net assets at the beginning of the period
688,348,986.26
Total net assets at the end of the period
538,546,816.38
The accompanying notes are an integral part of these financial statements.
Page 161
UBAM - GLOBAL CONVERTIBLE BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
71,281,244.37
Securities portfolio at market value Cash at banks Interest receivable on bonds and other debt securities Receivable on issues of shares Unrealised gain on forward foreign exchange contracts
Note 2
70,502,073.36 343,068.58 3.60 4,638.25 431,460.58
Note 2, 8
Liabilities
186,672.63
Bank liabilities Payable on redemptions of shares Payable on treasury transactions Interest payable on bank liabilities and expenses payable
27,741.96 4,173.92 6.57 154,750.18
Note 2
Net assets at the end of the period
71,094,571.74
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
AH CHF shares
Capitalisation shares
AH USD shares
Capitalisation shares
AH GBP shares
Capitalisation shares
I shares
Capitalisation shares Distribution shares
IH CHF shares
Capitalisation shares
IH USD shares
Capitalisation shares
UH GBP shares
Capitalisation shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
110,326.382
2,747.063
9,559.343
103,514.102
11,448.000
1,600.000
630.000
12,418.000
289,800.184
17,796.000
57,593.155
250,003.029
13,044.000
1,422.000
6,277.000
8,189.000
44,227.000
172,994.233
32,496.141
184,725.092
0.000
404.834
0.000
404.834
45,461.000
14,056.000
26,203.000
33,314.000
0.000
90,859.000
2,360.000
88,499.000
126,492.000
0.000
126,048.000
444.000
10.000
0.000
0.000
10.000
The accompanying notes are an integral part of these financial statements.
Page 162
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL CONVERTIBLE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
UH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
71,094,571.74
73,327,126.46
42,797,271.77
EUR
EUR
EUR
103,514.102 112.07
110,326.382 117.00
130,327.000 112.65
CHF
CHF
CHF
12,418.000 110.41
11,448.000 115.65
15,840.000 112.18
USD
USD
USD
250,003.029 112.34
289,800.184 116.74
230,385.000 112.50
GBP
GBP
GBP
8,189.000 112.39
13,044.000 117.14
10,440.000 112.76
EUR
EUR
EUR
184,725.092 110.27
44,227.000 114.87
22,077.000 110.07
404.834 100.34
-
-
CHF
CHF
CHF
33,314.000 101.02
45,461.000 105.57
15,000.000 101.93
USD
USD
USD
88,499.000 103.81
-
-
GBP
GBP
GBP
444.000 92.30
126,492.000 96.08
-
EUR
EUR
EUR
10.000 93.62
10.000 97.98
-
The accompanying notes are an integral part of these financial statements.
Page 163
UBAM - GLOBAL CONVERTIBLE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Market value
% of total net assets
70,052,993.89
70,502,073.36
99.17
70,052,993.89
70,502,073.36
99.17
70,052,993.89 70,052,993.89
70,502,073.36 70,502,073.36
99.17 99.17
70,052,993.89
70,502,073.36
99.17
Cash at banks/(bank liabilities)
315,326.62
0.44
Other net assets/(liabilities)
277,171.76
0.39
71,094,571.74
100.00
Description
Currency
Open-ended investment funds Investment funds (UCITS) Euro
59,964 UBAM - CONVERTIBLES GLOBAL -ZC- EUR *
EUR
Total investments in securities
Total
* Please refer to Note 16 The accompanying notes are an integral part of these financial statements.
Page 164
Cost
UBAM - GLOBAL CONVERTIBLE BOND
Geographical classification of investments (by domicile of the issuer) France
% of net assets 99.17 99.17
Industrial classification of investments % of net assets 99.17
Investment funds
99.17
Page 165
UBAM - GLOBAL CONVERTIBLE BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
117.57
Interest on bank accounts Other income
40.14 77.43
Expenses
445,266.89
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
299,468.61 52,360.38 11,661.71 34,973.48 721.63 34.80 2,857.59 5,266.47 34,969.50 2,952.72 -445,149.32
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-171,884.38 -1,371,260.56 186,191.93 -1,802,102.33
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-2,303,975.20 32,196.21 -4,073,881.32
Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares
31,028,108.72 40,483.40 -29,227,265.52
Total changes in net assets
-2,232,554.72
Total net assets at the beginning of the period
73,327,126.46
Total net assets at the end of the period
71,094,571.74
The accompanying notes are an integral part of these financial statements.
Page 166
UBAM - GLOBAL 10-40 CONVERTIBLE BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
93,640,401.03
Securities portfolio at market value Cash at banks Receivable on issues of shares Unrealised gain on forward foreign exchange contracts
Note 2
92,722,255.60 674,125.48 19,572.36 224,447.59
Note 2, 8
Liabilities
165,682.18
Interest payable on bank liabilities and expenses payable
165,682.18
Net assets at the end of the period
93,474,718.85
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares
AH USD shares
Capitalisation shares Distribution shares
AH GBP shares
Capitalisation shares
I shares
Capitalisation shares
IH CHF shares
Capitalisation shares
IH USD shares
Capitalisation shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
283,907.435
34,361.000
57,504.953
260,763.482
750.000
100.000
0.000
850.000
96,849.000
11,432.000
0.000
108,281.000
127,526.229
7,912.000
45,848.000
89,590.229
4,880.000
977.000
0.000
5,857.000
8,344.000
251.000
1,014.000
7,581.000
126,226.880
295,681.961
54,335.166
367,573.675
38,507.000
13,542.000
22,041.000
30,008.000
51,969.785
81,608.000
3,352.854
130,224.931
10.000
0.000
0.000
10.000
The accompanying notes are an integral part of these financial statements.
Page 167
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL 10-40 CONVERTIBLE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
93,474,718.85
72,688,295.30
50,463,583.23
EUR
EUR
EUR
260,763.482 99.60
283,907.435 103.40
361,458.359 101.33
850.000 95.33 0.46
750.000 99.45 -
-
CHF
CHF
CHF
108,281.000 98.56
96,849.000 102.64
20,650.000 101.30
USD
USD
USD
89,590.229 100.33
127,526.229 103.65
128,869.000 101.30
5,857.000 99.32 0.47
4,880.000 103.09 0.20
1,950.000 100.96 -
GBP
GBP
GBP
7,581.000 100.34
8,344.000 103.86
8,780.000 101.39
EUR
EUR
EUR
367,573.675 93.63
126,226.880 96.99
-
CHF
CHF
CHF
30,008.000 92.93
38,507.000 96.56
-
USD
USD
USD
130,224.931 94.17
51,969.785 97.08
-
EUR
EUR
EUR
10.000 92.75
10.000 96.54
-
The accompanying notes are an integral part of these financial statements.
Page 168
UBAM - GLOBAL 10-40 CONVERTIBLE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Currency
Open-ended investment funds Investment funds (UCITS) Euro
90,922 UBAM - CONVERTIBLES GLOBAL 10-40 -ZC-EUR*
EUR
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
* Please refer to Note 16 The accompanying notes are an integral part of these financial statements.
Page 169
Market value
% of total net assets
93,756,831.95
92,722,255.60
99.20
93,756,831.95
92,722,255.60
99.20
93,756,831.95 93,756,831.95
92,722,255.60 92,722,255.60
99.20 99.20
93,756,831.95
92,722,255.60
99.20
674,125.48
0.72
78,337.77
0.08
93,474,718.85
100.00
Cost
UBAM - GLOBAL 10-40 CONVERTIBLE BOND
Geographical classification of investments (by domicile of the issuer) France
% of net assets 99.20 99.20
Industrial classification of investments % of net assets 99.20
Investment funds
99.20
Page 170
UBAM - GLOBAL 10-40 CONVERTIBLE BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
26.73
Interest on bank accounts
26.73
Expenses
466,321.00
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
296,680.70 68,098.73 13,581.65 44,370.72 942.78 90.94 1,368.80 1,198.82 37,239.38 2,748.48 -466,294.27
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-229,693.14 -316,572.22 21,083.16 -991,476.47
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-1,759,989.98 -81,603.45 -2,833,069.90
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares
Note 14
-2,833.91 40,865,878.28 100,156.21 -17,343,707.13
Total changes in net assets
20,786,423.55
Total net assets at the beginning of the period
72,688,295.30
Total net assets at the end of the period
93,474,718.85
The accompanying notes are an integral part of these financial statements.
Page 171
UBAM - SRI EUROPEAN CONVERTIBLE BOND
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
24,417,809.07
Securities portfolio at market value Cash at banks Receivable on issues of shares
Note 2
24,334,263.42 70,597.05 12,948.60
Liabilities
63,263.78
Interest payable on bank liabilities and expenses payable
63,263.78
Net assets at the end of the period
24,354,545.29
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares
U shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
310.000
0.000
0.000
310.000
319,645.993
10,506.000
71,763.495
258,388.498
10.000
0.000
0.000
10.000
0.000
3,500.000
0.000
3,500.000
The accompanying notes are an integral part of these financial statements.
Page 172
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - SRI EUROPEAN CONVERTIBLE BOND Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
24,354,545.29
31,445,693.89
-
EUR
EUR
EUR
310.000 94.00
310.000 98.32
-
258,388.498 92.78 1.20
319,645.993 98.28 -
-
EUR
EUR
EUR
10.000 94.45
10.000 98.52
-
EUR
EUR
EUR
3,500.000 100.01
-
-
The accompanying notes are an integral part of these financial statements.
Page 173
UBAM - SRI EUROPEAN CONVERTIBLE BOND Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Currency
Open-ended investment funds Investment funds (UCITS) Euro
25,502 CONVERTIBLES EUROPE RESPONSABLE -ZC EUR- *
EUR
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
* Please refer to Note 16 The accompanying notes are an integral part of these financial statements.
Page 174
Market value
% of total net assets
24,702,627.63
24,334,263.42
99.92
24,702,627.63
24,334,263.42
99.92
24,702,627.63 24,702,627.63
24,334,263.42 24,334,263.42
99.92 99.92
24,702,627.63
24,334,263.42
99.92
70,597.05
0.29
-50,315.18
-0.21
24,354,545.29
100.00
Cost
UBAM - SRI EUROPEAN CONVERTIBLE BOND
Geographical classification of investments (by domicile of the issuer) France
% of net assets 99.92 99.92
Industrial classification of investments % of net assets 99.92
Holding and finance companies
99.92
Page 175
UBAM - SRI EUROPEAN CONVERTIBLE BOND Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Expenses
191,350.41
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
118,765.22 20,947.85 6,677.81 14,325.97 270.73 128.60 489.11 22,392.41 6.20 7,346.51 -191,350.41
Net realised gain/(loss) on: - securities portfolio
Note 2
Realised result
-37,685.54 -229,035.95
Net variation of the unrealised gain/(loss) on: - securities portfolio
Note 2
Result of operations
-1,088,671.00 -1,317,706.95
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions distribution shares
Note 14
-345,379.80 353,930.00 997,219.90 -6,779,211.75
Total changes in net assets
-7,091,148.60
Total net assets at the beginning of the period
31,445,693.89
Total net assets at the end of the period
24,354,545.29
The accompanying notes are an integral part of these financial statements.
Page 176
UBAM - 30 GLOBAL LEADERS EQUITY*
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
214,092,178.31
Securities portfolio at market value Cash at banks Receivable on issues of shares Dividends receivable Receivable on treasury transactions
Note 2
208,203,327.02 1,999,389.48 3,815,378.00 73,814.31 269.50
Note 2
Liabilities
950,286.92
Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
33,327.00 45,430.65 871,529.27
Note 2, 8
Net assets at the end of the period
213,141,891.39
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH shares
Capitalisation shares
A EUR shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares
AH CHF shares
Capitalisation shares
AH GBP shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares
IH shares
Capitalisation shares
IH EUR shares
Capitalisation shares
IH CHF shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
278,801.064
82,331.000
18,838.060
342,294.004
51,864.000
6,388.000
460.000
57,792.000
328,790.533
203,334.000
59,852.813
472,271.720
176,155.000
17,509.000
75,835.000
117,829.000
8,170.000
14,345.000
3,440.000
19,075.000
137,697.000
29,007.000
36,543.000
130,161.000
133,282.000
794.000
2,952.000
131,124.000
29,087.000
14,670.000
8,925.000
34,832.000
0.000
5,015.000
0.000
5,015.000
131,741.000
50,342.000
8,164.000
173,919.000
196,066.332
39,195.000
57,942.000
177,319.332
27,680.000
131,935.000
92,585.000
67,030.000
57,000.000
0.000
0.000
57,000.000
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 177
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - 30 GLOBAL LEADERS EQUITY* Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
R EUR shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
52,258.559
5,686.868
Shares redeemed
2,712.993
Shares outstanding as at 30/06/2016
55,232.434
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH shares Capitalisation shares Number of shares outstanding Net asset value per share
A EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
EUR
EUR
213,141,891.39
173,332,906.66
123,007,744.55
USD
USD
USD
342,294.004 118.92
278,801.064 120.56
148,778.000 117.62
57,792.000 104.67 0.86
51,864.000 106.97 -
16,592.000 104.36 -
USD
USD
USD
472,271.720 114.35
328,790.533 116.11
335,363.175 111.15
EUR
EUR
EUR
117,829.000 98.72
176,155.000 102.35
123,018.000 89.64
19,075.000 97.91 0.82
8,170.000 102.36 -
10,695.000 89.64 -
EUR
EUR
EUR
130,161.000 86.09
137,697.000 87.96
171,389.742 83.61
CHF
CHF
CHF
131,124.000 105.17
133,282.000 107.64
117,693.000 103.55
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 178
UBAM - 30 GLOBAL LEADERS EQUITY* Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH shares Capitalisation shares Number of shares outstanding Net asset value per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
R EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
EUR
EUR
213,141,891.39
173,332,906.66
123,007,744.55
GBP
GBP
GBP
34,832.000 121.17
29,087.000 123.76
21,064.000 118.22
5,015.000 103.87
-
-
USD
USD
USD
173,919.000 123.69
131,741.000 124.93
240,483.000 120.98
USD
USD
USD
177,319.332 122.74
196,066.332 124.18
28,771.488 117.99
EUR
EUR
EUR
67,030.000 90.10
27,680.000 91.72
23,005.000 86.54
CHF
CHF
CHF
57,000.000 100.65
57,000.000 102.64
-
EUR
EUR
EUR
55,232.434 139.62
52,258.559 145.48
60,701.867 128.69
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 179
UBAM - 30 GLOBAL LEADERS EQUITY* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Market value
% of total net assets
181,114,080.35
208,203,327.02
97.68
181,114,080.35
208,203,327.02
97.68
EUR EUR EUR EUR EUR
30,377,922.88 5,520,371.14 5,869,159.61 7,130,786.00 5,532,091.26 6,325,514.87
33,116,964.77 5,536,822.78 7,862,771.73 7,868,623.33 5,485,625.27 6,363,121.66
15.54 2.60 3.69 3.69 2.57 2.99
GBP GBP
13,223,609.79 6,028,953.76 7,194,656.03
13,304,823.64 5,282,685.84 8,022,137.80
6.24 2.48 3.76
CHF CHF
12,804,466.32 5,732,781.01 7,071,685.31
14,672,455.12 6,937,756.70 7,734,698.42
6.88 3.25 3.63
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
124,708,081.36 6,893,698.11 6,377,665.72 4,025,720.80 1,784,879.36 6,523,385.55 6,228,691.33 6,487,470.02 6,020,802.58 5,532,467.26 5,544,246.13 6,959,188.74 5,285,743.82 5,793,773.20 5,819,955.55 5,591,621.46 2,109,202.18 6,857,639.36 7,478,324.34 6,327,815.57 6,305,525.38 5,406,048.90 5,354,216.00
147,109,083.49 5,992,298.47 8,666,345.13 5,057,174.70 2,835,225.90 8,690,884.95 7,358,571.99 7,679,924.40 8,531,874.00 5,635,455.16 6,579,931.26 8,175,658.92 7,142,615.62 5,458,982.34 7,588,564.80 5,982,479.75 2,132,629.44 7,295,309.28 8,070,060.16 6,219,760.05 7,850,078.63 6,625,642.06 7,539,616.48
69.02 2.81 4.07 2.37 1.33 4.08 3.45 3.60 4.00 2.64 3.09 3.84 3.35 2.56 3.56 2.81 1.00 3.42 3.79 2.92 3.68 3.11 3.54
181,114,080.35
208,203,327.02
97.68
Cash at banks/(bank liabilities)
1,999,389.48
0.94
Other net assets/(liabilities)
2,939,174.89
1.38
213,141,891.39
100.00
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
52,986 60,183 41,179 113,148 42,115
Euro
AIR LIQUIDE SA ANHEUSER-BUSCH INBEV NV L'OREAL SA LUXOTTICA GROUP SPA LVMH
Pound Sterling
314,378 PRUDENTIAL PLC 80,120 RECKITT BENCKISER GROUP PLC
Swiss Franc
89,938 NESTLE SA REG SHS 29,423 ROCHE HOLDING AG GENUSSSCHEIN 152,437 76,497 7,307 4,030 79,565 21,483 104,917 84,474 179,017 74,721 67,938 139,586 58,254 137,474 44,005 26,968 127,719 54,616 60,651 105,839 67,733 43,054
US Dollar
ABBOTT LABORATORIES LTD ACCENTURE - SHS CLASS A ALPHABET -CALPHABET INC AON BLACKROCK INC COLGATE-PALMOLIVE CO DANAHER CORP GENERAL ELECTRIC CO MASTERCARD INC -AMCDONALD'S CORP MICROSOFT CORP MOODY S CORP NIKE INC RAYTHEON CO SCHLUMBERGER LTD STARBUCKS CORP THERMO FISHER SCIEN SHS UNITED TECHNOLOGIES CORP VISA INC -AWALT DISNEY CO 3M CO
Total investments in securities
Total
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 180
Cost
UBAM - 30 GLOBAL LEADERS EQUITY*
Geographical classification of investments (by domicile of the issuer) United States of America United Kingdom France Switzerland Ireland Belgium Italy The Netherlands Antilles
% of net assets 59.87 10.32 9.28 6.88 4.07 3.69 2.57 1.00 97.68
Industrial classification of investments % of net assets 10.90 10.13 7.75 7.26 7.05 6.56 6.55 6.01 5.73 4.00 3.79 3.69 3.25 3.11 3.09 2.64 2.60 2.57 1.00
Miscellaneous consumer goods Pharmaceuticals and cosmetics Miscellaneous services Hotels and restaurants Internet and Internet services Insurance Textiles and garments Holding and finance companies Aerospace industry Machine and apparatus construction Electronics and semiconductors Tobacco and alcoholic drinks Foods and non alcoholic drinks Graphic art and publishing Banks and credit institutions Electrical engineering and electronics Chemicals Photographics and optics Petroleum
97.68
* Please refer to Note 18
Page 181
UBAM - 30 GLOBAL LEADERS EQUITY* Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
1,952,661.27
Dividends, net Interest on bank accounts
Note 2
Expenses
1,949,607.31 3,053.96 2,030,216.59
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
1,357,063.83 201,882.74 38,967.65 99,473.56 2,105.91 404.88 4,032.16 174,374.47 144,119.25 7,792.14 -77,555.32
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-282,864.01 -56,320.99 10,323,126.83 9,906,386.51
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-17,165,235.64 -129,215.11 -7,388,064.24
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-56,680.43 64,709,954.03 2,963,809.42 -39,638,500.78 -411,484.95 20,179,033.05
Total net assets at the beginning of the period
192,962,858.34
Total net assets at the end of the period
213,141,891.39
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 182
UBAM - ADAMS US SMALL CAP EQUITY*
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
47,097,531.59
Securities portfolio at market value Interest receivable on bonds and other debt securities Receivable on issues of shares Dividends receivable
Note 2
46,166,022.50 5.40 880,143.76 51,359.93
Liabilities
367,001.67
Bank liabilities Payable on redemptions of shares Interest payable on bank liabilities and expenses payable
44,044.00 234.71 322,722.96
Net assets at the end of the period
46,730,529.92
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
I shares
Capitalisation shares
I+ shares
Capitalisation shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
9,664.000
15,306.000
0.000
24,970.000
9,736.000
18,513.000
1,500.000
26,749.000
0.000
63,075.720
47,639.798
15,435.922
537,866.805
57,857.370
202,277.941
393,446.234
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 183
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - ADAMS US SMALL CAP EQUITY* Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
I+ shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
46,730,529.92
55,040,931.56
-
USD
USD
USD
24,970.000 101.50
9,664.000 98.97
-
USD
USD
USD
26,749.000 102.05
9,736.000 99.12
-
USD
USD
USD
15,435.922 117.10
-
-
USD
USD
USD
393,446.234 100.80
537,866.805 98.76
-
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 184
UBAM - ADAMS US SMALL CAP EQUITY* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
12,700 7,400 21,600 17,400 10,300 2,100 8,700 56,700 5,100 15,300 2,600 9,000 8,100 16,900 7,700 17,400 10,100 6,800 8,000 6,500 11,300 11,700 5,700 20,000 16,800 9,100 23,500 17,900 22,700 8,800 13,200 6,300 14,000 10,400 11,200 20,900 6,900 9,900 7,200 22,300 8,800 5,800 14,700 9,700 4,200 10,300 10,600 21,100 8,500 10,500 7,700 14,300 8,300 7,500 8,600 10,400 10,700 3,900 5,500 7,900 9,500 8,100
US Dollar
ACADIA REALTY TRUST SHS.BENEF.INTEREST ADVANCED ENERGY INDUSTRIES INC AEGION AIRCASTLE LTD ALBANY INTERNATIONAL CORP. CL. A ALLEGIANT TRAVEL AMERICAN STATES WATER CO AMKOR TECHNOLOGY AMSURG CORP AMTRUST FIANCIAL SERVICES ANACOR PHARMACEUTICALS ANIKA THERAPEUTICS APOGEE ENTERPRISES INC APPLIED GENETIC TECHNOLOGIES AZZ INC BENCHMARK ELECTRONICS INC BERRY PLASTICS GROUP INC BIOSPECIFICS TECHNOLOGIES BURLINGTON STORES INC CAL-MAINE FOODS CAPITAL BANK FINANCIAL -ACATHAY GENERAL BANCORP CEB INC CENTRAL GARDEN AND PET -A- NON VOTING CENTRAL PACIFIC FINANCE CIRRUS LOGIC INC COLLECTORS UNIVERSE CONSOLIDATED COMMUNICATIONS HOLDINGS CROSS COUNTRY HEALTHCARE INC CSG SYSTEM INTL CUBESMART CURTISS-WRIGHT CUSTOMERS BANC CYRUSONE INC DCT INDUSTRIAL TRUST INC DEAN FOODS CO DELUXE CORP DUPONT FABROS TECHNOLOGIY EMERGENT BIOSOLUTIONS INC EMPIRE STATE REALTY TRUST INC ENANTA PHARM ENDURANCE SPECIALITY ETHAN ALLEN INTERIORS INC EXLSERVICE HOLDING FAIR ISAAC CORP FEDERAL AGRICULTURAL MORTGAGE -CFIRST FINANCIAL CORP (INDIANA) FORUM ENERGY TECHNOLOGIES INC GENTHERM INC GRANITE CONSTRUCTION INC GREAT SOUTHERN BANCORP INC GREAT WESTERN BANCORP INC H B FULLER CO HESKA HIGHWOOD PROPERTIES INC HORACE MAIN EDUCATORS CORP HUB GROUP -AICU MEDICAL INC IDACORP INC INDEPENDENT BANK INGLES MARKETS -AINTERDIGITAL
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 185
Market value
% of total net assets
44,186,623.46
46,166,022.50
98.79
44,186,623.46
46,166,022.50
98.79
44,186,623.46 411,583.67 212,024.67 419,740.92 375,830.85 367,981.38 422,825.66 362,820.54 307,888.40 383,836.71 444,803.02 269,483.32 321,491.02 384,748.62 310,264.06 415,569.91 390,763.13 355,621.25 305,215.44 402,301.60 363,228.89 355,259.91 352,852.17 399,433.05 334,324.38 358,017.36 282,139.24 396,679.45 372,156.44 315,494.21 298,443.33 372,853.92 424,189.50 360,490.09 368,928.00 406,235.74 361,660.19 407,799.18 303,650.48 235,721.73 392,931.78 296,973.69 363,582.75 407,000.00 414,627.22 385,149.82 308,332.25 361,280.10 267,303.45 397,842.55 418,865.62 353,454.22 372,553.07 309,086.71 230,315.17 365,099.23 351,704.94 414,045.24 406,956.43 377,294.46 363,567.87 420,242.02 406,561.42
46,166,022.50 451,104.00 280,904.00 421,416.00 340,344.00 411,279.00 318,150.00 381,234.00 326,025.00 395,454.00 374,850.00 257,920.00 482,850.00 375,435.00 238,797.00 461,846.00 368,010.00 392,385.00 271,592.00 533,680.00 288,080.00 325,440.00 329,940.00 351,576.00 434,200.00 396,480.00 352,989.00 464,125.00 487,596.00 315,984.00 354,728.00 407,616.00 530,775.00 351,820.00 578,864.00 538,048.00 378,081.00 457,953.00 470,646.00 202,464.00 423,477.00 194,040.00 389,528.00 485,688.00 508,377.00 474,642.00 358,646.00 388,172.00 365,241.00 291,125.00 478,275.00 284,669.00 451,022.00 365,117.00 278,775.00 454,080.00 351,416.00 410,559.00 439,725.00 447,425.00 361,030.00 354,350.00 451,008.00
98.79 0.97 0.60 0.90 0.73 0.88 0.68 0.82 0.70 0.85 0.80 0.55 1.03 0.80 0.51 0.99 0.79 0.84 0.58 1.14 0.62 0.70 0.71 0.75 0.93 0.85 0.76 0.99 1.04 0.68 0.76 0.87 1.14 0.75 1.23 1.14 0.81 0.98 1.01 0.43 0.91 0.42 0.83 1.04 1.09 1.02 0.77 0.83 0.78 0.62 1.02 0.61 0.97 0.78 0.60 0.97 0.75 0.88 0.94 0.96 0.77 0.76 0.97
Cost
UBAM - ADAMS US SMALL CAP EQUITY* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Market value
% of total net assets
404,827.62 341,089.20 378,181.89 313,355.71 247,037.58 401,364.57 380,913.55 413,820.82 380,385.86 328,697.19 471,659.34 402,191.59 274,537.39 214,943.87 371,798.45 419,263.23 363,400.38 265,562.28 438,101.91 381,755.64 348,250.62 431,133.15 366,189.18 297,615.79 284,687.71 499,070.66 373,132.65 389,459.99 388,112.52 381,761.01 384,277.25 334,316.51 233,539.37 355,581.44 383,027.13 349,334.89 353,924.97 363,110.12 466,051.67 392,675.71 307,636.91 250,670.80 409,426.22 382,455.29 415,619.09 416,441.20 365,310.57 412,164.82 207,804.47 405,061.62 343,559.23 444,887.26 374,532.73 305,990.00 351,762.00 363,797.95 405,427.94 365,348.65 368,168.30 403,296.56
472,560.00 370,681.00 267,176.00 197,457.00 310,102.00 270,066.00 367,894.00 489,712.00 371,954.00 436,200.00 513,675.00 530,401.50 340,174.00 186,660.00 465,558.00 435,296.00 361,400.00 222,705.00 397,319.00 512,743.00 317,720.00 322,095.00 370,992.00 443,784.00 217,288.00 420,000.00 299,925.00 421,980.00 368,196.00 377,000.00 343,125.00 352,400.00 265,920.00 391,867.00 439,360.00 343,700.00 310,851.00 330,012.00 424,710.00 458,451.00 318,725.00 241,125.00 382,208.00 371,132.00 431,100.00 430,430.00 337,430.00 402,168.00 313,389.00 432,222.00 316,417.00 539,097.00 349,107.00 389,337.00 329,315.00 450,576.00 332,254.00 204,237.00 424,740.00 324,837.00
1.01 0.79 0.57 0.42 0.66 0.58 0.79 1.05 0.80 0.93 1.10 1.14 0.73 0.40 1.00 0.93 0.77 0.48 0.85 1.10 0.68 0.69 0.79 0.95 0.46 0.90 0.64 0.90 0.79 0.81 0.73 0.75 0.57 0.84 0.94 0.74 0.67 0.71 0.91 0.98 0.68 0.52 0.82 0.79 0.92 0.92 0.72 0.86 0.67 0.92 0.68 1.14 0.75 0.83 0.70 0.96 0.71 0.44 0.91 0.70
44,186,623.46
46,166,022.50
98.79
Cash at banks/(bank liabilities)
-44,044.00
-0.09
Other net assets/(liabilities)
608,551.42
1.30
Description
5,500 4,100 18,200 8,300 2,600 3,800 5,800 12,700 5,800 3,000 7,500 10,100 7,900 6,100 6,200 24,400 10,400 4,900 16,900 7,700 9,400 54,500 5,900 16,400 69,200 16,000 21,500 26,000 18,300 10,000 30,500 10,000 4,800 8,900 16,000 17,500 26,100 61,800 19,800 17,100 5,500 37,500 12,800 8,200 6,000 14,000 20,500 31,200 7,300 57,400 17,300 3,900 21,300 6,700 9,700 4,200 16,900 9,900 6,000 22,700
Currency
JACK IN THE BOX INC KAISER ALUMINUM CORP KIRKLANDS LANNETT INC LIGAND PHARMACEUTICALS INC LITHIA MTRS LOGMELN INC LYDALL INC MANHATTAN ASSOCIATES INC MARKETAXESS HOLDING INC MARRIOTT VACATIONS WORLDWIDE WHEN ISSUED MASIMO MKS INSTRUMENTS MYRIAD GNETICS INC NATIONAL HEALTH INVESTORS INC NAUTILUS INC NELNET INC -ANEUROCRINE BIOSCIENCES NEUSTAR -AONE GAS WI OPUS BANK ORASURE TECHNOLOGIES PAREXEL INTERNATIONAL PARSLEY ENERGY INC -APDL BIOPHARMA PEBBLEBROOK - SHS OF BENEFIT INTEREST PENN NATL GAMING PENNYMAC PERRY ELLIS INTERNATIONAL INC PIPER JAFFRAY COS ( WHEN ISSUED) POLYCOM POLYGONE CORP PRESTIGE BRANDS HOLDINGS INC PRIVATEBANCORP PROGRESS SOFTWARE CORP PROVIDENT FINANCIAL SERVICES INC QUALITY SYSTEMS INC RADNET INC RLJ LODGING TRUST ( BENEF INTEREST) SANMINA CORP SEACOR HOLDING INC SIGMA DESIGN INC SINCLAIR BROADCAST GROUP -ASYNTEL TECH DATA CORP TETREA TECH INC TIME INC WHEN ISSUED TRAVELPORT WORLDWIDE LTD TRINSEO REG.SHS TTM TECHNOLOGIES INC UNITED COMMUNITY BANKS INC VAIL RESORTS INC VASCO DATA SEC INTL WEBMD HEALTH CORP -AWEBSTER FINANCIAL CORP WELLCARE HEALTH PLANS INC WEST CORPORATION WESTERN REFINING INC WGL HOLDINGS INC ZUMIEZ INC
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
Total investments in securities
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 186
Cost
UBAM - ADAMS US SMALL CAP EQUITY* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Total
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 187
Cost
Market value
% of total net assets
46,730,529.92
100.00
UBAM - ADAMS US SMALL CAP EQUITY*
Geographical classification of investments (by domicile of the issuer) United States of America Bermuda Luxembourg
% of net assets 95.70 2.42 0.67 98.79
Industrial classification of investments % of net assets 10.81 9.86 8.25 7.13 6.52 6.13 4.82 4.80 4.08 3.47 3.17 3.15 2.97 2.72 2.49 2.20 1.93 1.78 1.70 1.58 1.43 1.20 1.14 1.04 0.99 0.93 0.92 0.79 0.79
Real estate companies Banks and credit institutions Holding and finance companies Pharmaceuticals and cosmetics Internet and Internet services Electronics and semiconductors Hotels and restaurants Healthcare and social services Communications Utilities Retail trade, department stores Transportation Biotechnology Building materials and trade Petroleum Chemicals Paper and forest products Electrical engineering and electronics Graphic art and publishing Insurance Foods and non alcoholic drinks Road vehicles Aerospace industry Various capital goods Miscellaneous services Miscellaneous consumer goods Environmental services and recycling Non-ferrous metals Textiles and garments
98.79
Page 188
UBAM - ADAMS US SMALL CAP EQUITY* Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
293,789.52
Dividends, net Interest on bank accounts Other income
Note 2
Expenses
293,052.82 12.54 724.16 906,695.81
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
605,108.69 52,607.23 12,451.04 26,720.05 515.03 21.76 3,102.31 154,440.37 49,491.10 11.07 2,227.16 -612,906.29
Net realised gain/(loss) on: - securities portfolio - foreign exchange
Note 2 Note 2
Realised result
-626,002.23 -18.52 -1,238,927.04
Net variation of the unrealised gain/(loss) on: - securities portfolio
Note 2
Result of operations
2,701,977.67 1,463,050.63
Subscriptions capitalisation shares Redemptions capitalisation shares
15,609,354.65 -25,382,806.92
Total changes in net assets
-8,310,401.64
Total net assets at the beginning of the period
55,040,931.56
Total net assets at the end of the period
46,730,529.92
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 189
UBAM - ASIA EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
34,062,407.89
Securities portfolio at market value Cash at banks Dividends receivable
Note 2
31,943,049.87 2,060,871.39 58,486.63
Liabilities
174,858.55
Interest payable on bank liabilities and expenses payable
174,858.55
Net assets at the end of the period
33,887,549.34
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
1,402,749.294
83,967.000
287,928.941
1,198,787.353
7,716.880
1,150.000
1,900.880
6,966.000
124,073.673
2,685.000
66,709.760
60,048.913
177,212.417
3,193.683
6,240.732
174,165.368
Capitalisation shares
91,871.056
48,616.195
54,141.363
86,345.888
Distribution shares
20,698.220
0.000
1,040.000
19,658.220
9,010.000
0.000
9,010.000
0.000
1,500.000
0.000
0.000
1,500.000
29,076.233
0.000
0.332
29,075.901
A shares
Capitalisation shares Distribution shares
A EUR shares
Capitalisation shares
AP shares
Capitalisation shares
IP shares
IP EUR shares
Capitalisation shares
UP shares
Capitalisation shares
R shares
Capitalisation shares
The accompanying notes are an integral part of these financial statements.
Page 190
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - ASIA EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
A EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AP shares Capitalisation shares Number of shares outstanding Net asset value per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IP EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
UP shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
33,887,549.34
44,148,353.18
29,696,452.14
USD
USD
USD
1,198,787.353 20.13
1,402,749.294 21.83
899,990.204 23.25
6,966.000 85.84 1.55
7,716.880 94.71 -
-
EUR
EUR
EUR
60,048.913 18.11
124,073.673 20.08
54,964.377 19.21
USD
USD
USD
174,165.368 20.33
177,212.417 21.99
241,417.053 23.33
USD
USD
USD
86,345.888 21.38
91,871.056 23.04
38,745.231 24.31
19,658.220 97.86 1.76
20,698.220 107.31 -
-
EUR
EUR
EUR
-
9,010.000 118.53
-
USD
USD
USD
1,500.000 81.95
1,500.000 88.42
-
USD
USD
USD
29,075.901 17.71
29,076.233 19.30
44,434.401 20.76
The accompanying notes are an integral part of these financial statements.
Page 191
UBAM - ASIA EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Market value
% of total net assets
33,617,905.15
31,943,049.87
94.26
33,465,385.15
31,805,724.87
93.85
HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD
13,470,954.33 1,281,281.46 926,222.99 1,043,703.16 1,107,740.60 442,990.47 680,205.67 1,097,543.30 342,854.32 1,235,951.19 601,331.09 629,289.13 312,738.86 1,529,813.54 699,653.70 344,018.67 575,702.30 229,121.52 390,792.36
12,526,195.54 1,255,637.62 1,075,541.18 1,042,156.10 780,282.96 420,048.85 566,463.72 972,550.12 353,404.99 1,088,688.98 395,563.01 604,927.47 339,883.39 1,320,579.99 785,000.70 323,841.79 685,908.86 158,791.85 356,923.96
36.95 3.70 3.17 3.08 2.30 1.24 1.67 2.87 1.04 3.21 1.17 1.79 1.00 3.89 2.32 0.96 2.02 0.47 1.05
INR INR INR INR
3,219,370.31 1,075,677.15 956,795.41 513,164.08 673,733.67
3,428,163.69 1,243,058.25 1,042,076.78 576,842.50 566,186.16
10.12 3.67 3.08 1.70 1.67
IDR IDR
1,032,705.54 310,261.14 722,444.40
1,110,236.47 369,347.19 740,889.28
3.28 1.09 2.19
KRW KRW KRW KRW KRW KRW KRW KRW KRW KRW
7,462,954.62 604,567.40 1,005,186.32 1,108,738.29 199,312.90 1,186,249.30 211,820.25 374,510.58 751,411.03 631,554.81 1,389,603.74
6,643,898.18 623,974.41 917,740.92 711,898.17 191,583.08 794,048.61 189,260.73 471,936.40 847,636.31 531,579.57 1,364,239.98
19.60 1.84 2.71 2.10 0.57 2.34 0.56 1.39 2.50 1.57 4.02
MYR
449,685.65 449,685.65
650,377.53 650,377.53
1.92 1.92
TWD TWD TWD TWD TWD TWD
3,762,822.56 509,739.36 1,287,743.58 851,691.75 598,309.01 208,349.17 306,989.69
3,241,167.71 442,224.32 1,235,775.58 591,718.36 501,100.27 227,068.33 243,280.85
9.56 1.30 3.64 1.75 1.48 0.67 0.72
PHP PHP PHP
1,501,703.17 784,029.47 153,818.57 563,855.13
1,740,211.04 803,765.59 177,777.85 758,667.60
5.14 2.38 0.52 2.24
SGD SGD
1,577,396.34 670,224.33 907,172.01
1,517,267.95 716,349.71 800,918.24
4.48 2.11 2.37
THB
987,792.63 987,792.63
948,206.76 948,206.76
2.80 2.80
152,520.00
137,325.00
0.41
152,520.00 152,520.00
137,325.00 137,325.00
0.41 0.41
33,617,905.15
31,943,049.87
94.26
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
1,814,000 560,000 330,000 2,124,000 1,314,000 430,000 1,500,000 285,000 10,300,000 478,000 650,000 160,000 300,000 1,500,000 27,000 165,000 970,000 65,000 105,000 450,000 210,000 105,000
Hong Kong Dollar
AVICHINA INDUSTRY AND TECHNOLOGY CO LTD CHINA EVERBRIGHT LTD CHINA OVERSEAS LAND INVESTMENT LTD -RCCHINA POWER INTERNATIONAL DEV. -RCCHINA RESOURCES CEMENT CHINA STATE CONSTRUCTION INTL HLDG LTD CN MACHINERY -HCNOOC LTD -RCEAGLE RIDE INV GREAT WALL MOTOR CO-HHUA HONG SEMICONDUCTOR UNITARY 144A/REGS HUATAI SECURITIES CO LTD PING AN INS (GRP) CO -HSITC INTERNATIONAL HOLDINGS CO LTD SUN HUNG KAI PROPERTIES LTD TECHTRONIC INDUSTRIES CO LTD ZHONG AO HOME UNITARY 144A/REGS ZHUZHOU CRRC -H-
Indian Rupee
GLENMARK PHARMACEUTICALS NTPC DS - SHS - DEMATERIALISED PRESTIGE ESTATES PROJECTS LTD SUN TV NETWORK
Indonesian Rupiah
8,000,000 ARWANA CITRAMULIA 2,510,000 PP TBK 1,850 6,200 80,000 3,250 6,750 10,000 9,000 3,450 650 48,500
Korean Won
CJ CHEILJEDANG COSMAX INC CRUCIALTEC HOTEL SHILLA HYUNDAI MOTOR CO LTD JS CORP INC KOREA ELECTRIC POWER CORP LOTTE CHEMICAL CORPORATION ORION CORPORATION SK HYNIX INC
Malaysian Ringgit
600,000 QL RESOURCES 1,836,000 1,601,000 465,000 265,000 25,000 120,000
New Taiwan Dollar
CHINA DEVELOPMENT BANK FINANCIAL HDG CO CHINA LIFE INSURANCE CHIPBOND TECHNOLOGY CORP NAN YA PLASTICS CORP NIEN MADE ENTERPRISE CO LTD SUPERIOR PLATIN
Philippine Peso
3,785,300 D L INDUSTRIES 1,200,000 METRO PACIFIC INVESTMENTS CORP 186,000 SECURITY BANK CORP
Singapore Dollar
61,177 DBS GROUP HOLDINGS 688,800 FIRST RESSOURCES
Thai Bath
1,400,000 SINO THAI ENGINEERING AND CONST. FOREIGN
Warrants, Rights US Dollar
50,000 MS ASIA PRODUCTS
26.10.17 WAR
USD
Total investments in securities
The accompanying notes are an integral part of these financial statements.
Page 192
Cost
UBAM - ASIA EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 193
Cost
Market value
% of total net assets
2,060,871.39
6.08
-116,371.92
-0.34
33,887,549.34
100.00
UBAM - ASIA EQUITY
Geographical classification of investments (by domicile of the issuer) South Korea Hong Kong China India Taiwan Cayman Islands Philippines Singapore Indonesia Thailand Malaysia
% of net assets 19.60 14.36 13.68 10.12 9.56 9.32 5.14 4.48 3.28 2.80 1.92 94.26
Industrial classification of investments % of net assets 11.96 9.60 9.09 7.53 7.21 6.38 6.36 5.10 4.51 4.35 4.13 3.92 3.41 2.32 1.92 1.67 1.39 1.04 0.72 0.57 0.56 0.52
Electronics and semiconductors Building materials and trade Holding and finance companies Insurance Road vehicles Pharmaceuticals and cosmetics Chemicals Electrical engineering and electronics Real estate companies Banks and credit institutions Miscellaneous trading companies Machine and apparatus construction Foods and non alcoholic drinks Transportation Agriculture and fishery Communications Utilities Petroleum Miscellaneous consumer goods Hotels and restaurants Textiles and garments Healthcare and social services
94.26
Page 194
UBAM - ASIA EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
830,767.45
Dividends, net Interest on bank accounts
Note 2
Expenses
829,651.21 1,116.24 514,851.51
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
297,023.51 46,509.30 8,374.60 18,941.52 368.82 15.77 3,076.65 96,812.36 37,402.17 6,326.81 315,915.94
Net realised gain/(loss) on: - securities portfolio - foreign exchange
Note 2 Note 2
Realised result
-878,188.74 -418,499.23 -980,772.03
Net variation of the unrealised gain/(loss) on: - securities portfolio
Note 2
Result of operations
-2,584,194.92 -3,564,966.95
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-46,170.77 2,866,043.04 97,874.50 -9,354,436.55 -259,147.11 -10,260,803.84
Total net assets at the beginning of the period
44,148,353.18
Total net assets at the end of the period
33,887,549.34
The accompanying notes are an integral part of these financial statements.
Page 195
UBAM - DR. EHRHARDT GERMAN EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
28,074,062.57
Securities portfolio at market value Cash at banks Deposits on futures and option contracts Receivable on issues of shares Dividends receivable Unrealised gain on forward foreign exchange contracts
Note 2
27,254,468.55 536,171.69 257,296.62 17,999.18 5,520.83 2,605.70
Note 2, 8
Liabilities
156,965.73
Payable on redemptions of shares Interest payable on bank liabilities and expenses payable
12,999.09 143,966.64
Net assets at the end of the period
27,917,096.84
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
AH USD shares
Capitalisation shares
I shares
Capitalisation shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
20,200.568
596.705
3,968.292
16,828.981
1,338.000
0.000
0.000
1,338.000
1,121.236
282.000
642.616
760.620
1,701.656
181.000
315.263
1,567.393
The accompanying notes are an integral part of these financial statements.
Page 196
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - DR. EHRHARDT GERMAN EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
27,917,096.84
37,213,214.16
36,507,584.46
EUR
EUR
EUR
16,828.981 1,458.07
20,200.568 1,615.47
23,621.672 1,409.51
USD
USD
USD
1,338.000 99.73
1,338.000 110.25
1,000.000 97.68
EUR
EUR
EUR
760.620 1,584.35
1,121.236 1,748.92
561.859 1,514.69
EUR
EUR
EUR
1,567.393 1,310.51
1,701.656 1,459.24
1,773.661 1,286.00
The accompanying notes are an integral part of these financial statements.
Page 197
UBAM - DR. EHRHARDT GERMAN EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
10,900 4,000 6,400 8,400 3,200 20,000 10,500 10,200 10,200 21,800 3,100 11,000 3,500 13,000 47,000 21,000 2,650 54,500 92,200 13,800 43,000 17,000 10,600 9,000 8,200 5,400 460 17,500 1,100 27,000 13,500 4,324 36,500 14,400 7,800 19,000 11,850 1,300 3,600 5,700 1,800 1,700 2,200 500 19,480 6,700 65,000 10,100 5,000 62,000 14,000 3,900 19,600 25,000 3,200 44,000 15,000 24,200 2,500 20,164 950 4,200
Euro
AAREAL BANK AG ADIDAS NAMEN AKT ADLER REAL ESTATE AG ADO PROPERTIES ALLIANZ SE REG SHS ALSTRIA OFFICE REIT AG AURUBIS AXEL SPRINGER NAMEN AKT VINKULIERT BASF - NAMEN AKT BAYER AG REG SHS BIJOU BRIGITTE MODISCHE ACCESOIRES AG BRAAS MONIER BUILDING GROUP S.A. CARL ZEISS MEDITEC AG CELESIO NAMEN AKT COMMERZBK DEUTSCHE BANK AG REG SHS DEUTSCHE EUROSHOP AG REG SHS DEUTSCHE POST AG REG SHS DEUTSCHE TELEKOM AG REG SHS DEUTSCHE WOHNEN AG DEUTZ E.ON AG REG SHS EVONIK INDUSTRIES AG FRESENIUS AG FRESENIUS MEDICAL CARE AG & CO KGAA GRANDE CITY PROPERTIES S.A. GRENKELEASING NAMENS-AKT. HAMBORNER AG HANNOVER RUECKVERSICHERUNG AG REG SHS HBV REAL ESTATE BK HEIDELBERGCEMENT AG HOCHTIEF AG INFINEON TECHNOLOGIES REG SHS JUNGHEINRICH VORZ.STIMMRECHTSLOS KOENIG AND BAUER AK. LANXESS AG LEG IMMOBILIEN - NAMEN AKT LINDE AG MAN SE MTU AERO ENGINES HOLDING AG MUENCHENER RUECKVERSICHERUNGS AG REG SHS NEMETSCHEK PROSIEBENSAT.1 NAMEN-AKT RENK AG RHEINMETALL AG RHOEN KLINIKUM AG RWE AG SAP AG SIEMENS AG REG SHS SINNERSCHRADER SIXT AKTIENGESELLSCHAFT STO AG VORZUG OHNE STIMMRECHT STRABAG SE SUEDZUCKER MANNH./OCHS SURTECO SE TAG IMMOBILIEN THYSSENKRUPP AG VILLEROY BOCH VORZUG STIMMRECHTSLOS VOLKSWAGEN VORZ.AKT VONOVIA SE WACKER CHEMIE AG WASHTEC AG
EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR
The accompanying notes are an integral part of these financial statements.
Page 198
Market value
% of total net assets
26,101,373.34
27,254,468.55
97.63
26,101,373.34
27,254,468.55
97.63
26,101,373.34 329,706.05 313,432.41 0.00 215,016.27 456,006.40 242,585.00 491,060.58 500,468.77 661,721.72 1,953,942.29 182,900.00 262,746.70 76,445.95 327,425.49 299,573.30 347,552.10 107,623.96 1,316,275.75 1,442,653.25 328,052.99 166,113.30 150,745.80 268,774.66 307,684.77 544,505.42 113,113.80 75,116.21 166,885.25 80,279.71 249,569.80 917,542.34 330,519.59 466,657.00 337,924.80 343,344.30 826,553.50 841,319.11 171,727.40 328,851.36 456,100.91 303,939.00 70,073.50 100,385.34 16,078.95 1,103,133.16 169,113.36 875,942.35 695,556.49 419,986.00 261,656.83 660,328.90 409,911.73 487,635.19 444,940.80 67,257.28 512,518.20 268,647.00 328,163.57 296,810.00 591,508.18 77,336.65 123,952.39
27,254,468.55 308,088.50 513,800.00 72,960.00 290,388.00 408,960.00 242,800.00 428,715.00 480,675.00 700,128.00 1,962,000.00 184,992.50 231,770.00 127,522.50 330,200.00 273,728.00 258,825.00 108,901.75 1,372,037.50 1,408,816.00 421,245.00 159,014.00 153,442.00 283,444.00 592,380.00 639,846.00 99,711.00 72,220.00 170,257.50 103,191.00 238,950.00 910,845.00 500,286.80 473,587.50 389,016.00 356,421.00 746,320.00 994,096.50 162,955.00 330,804.00 477,603.00 270,450.00 82,450.00 86,273.00 47,499.50 1,036,336.00 176,411.00 922,350.00 678,316.00 459,050.00 299,460.00 643,650.00 401,700.00 531,160.00 494,375.00 65,600.00 518,760.00 270,150.00 326,579.00 270,750.00 660,371.00 74,537.00 131,880.00
97.63 1.10 1.84 0.26 1.04 1.46 0.87 1.54 1.72 2.51 7.04 0.66 0.83 0.46 1.18 0.98 0.93 0.39 4.91 5.06 1.51 0.57 0.55 1.02 2.12 2.29 0.36 0.26 0.61 0.37 0.86 3.26 1.79 1.70 1.39 1.28 2.67 3.56 0.58 1.18 1.71 0.97 0.30 0.31 0.17 3.71 0.63 3.30 2.43 1.64 1.07 2.31 1.44 1.90 1.77 0.23 1.86 0.97 1.17 0.97 2.37 0.27 0.47
Cost
UBAM - DR. EHRHARDT GERMAN EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Market value
% of total net assets
166,370.00 163,910.52 323,852.06 163,847.88
162,000.00 188,136.00 347,248.00 128,034.00
0.58 0.67 1.24 0.46
0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00 0.00
0.00 0.00
26,101,373.34
27,254,468.55
97.63
Cash at banks/(bank liabilities)
536,171.69
1.92
Other net assets/(liabilities)
126,456.60
0.45
27,917,096.84
100.00
Description
50,000 3,600 8,800 5,400
Currency
WCM BETEILIGUNG - KAPITALHERABSETZUNG WINCOR NIXDORF AG WIRECARD AG ZALANDO SE
EUR EUR EUR EUR
Other transferable securities Shares Euro
48,884 SPORTHOUSE.DE -N (DEFAULTED)
EUR
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 199
Cost
UBAM - DR. EHRHARDT GERMAN EQUITY
Geographical classification of investments (by domicile of the issuer) Germany Luxembourg Austria
% of net assets 93.50 2.23 1.90 97.63
Industrial classification of investments % of net assets 14.09 12.83 10.39 7.22 6.05 6.03 5.30 5.06 3.85 3.71 3.01 2.80 2.31 2.30 2.03 1.77 1.71 1.70 1.54 1.44 0.97 0.66 0.63 0.23
Chemicals Real estate companies Building materials and trade Transportation Pharmaceuticals and cosmetics Road vehicles Internet and Internet services Communications Utilities Machine and apparatus construction Banks and credit institutions Insurance Electrical engineering and electronics Textiles and garments Graphic art and publishing Foods and non alcoholic drinks Aerospace industry Electronics and semiconductors Non-ferrous metals Holding and finance companies Coal mining and steel industry Miscellaneous trading companies Healthcare and social services Various capital goods
97.63
Page 200
UBAM - DR. EHRHARDT GERMAN EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
521,495.38
Dividends, net Interest on bonds and other debt securities, net
Note 2 Note 2
Expenses
518,674.38 2,821.00 552,732.28
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
247,289.99 32,087.03 7,406.25 16,420.79 314.61 5,363.09 2,572.30 201,053.58 34,359.51 550.00 5,315.13 -31,236.90
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2
Realised result
-217,539.05 -4,275.05 -570,644.97 -5.87 -823,701.84
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - futures contracts
Note 2 Note 2 Note 2
Result of operations
-2,578,259.00 1,728.58 -44,325.00 -3,444,557.26
Subscriptions capitalisation shares Redemptions capitalisation shares
1,545,751.05 -7,397,311.11
Total changes in net assets
-9,296,117.32
Total net assets at the beginning of the period
37,213,214.16
Total net assets at the end of the period
27,917,096.84
The accompanying notes are an integral part of these financial statements.
Page 201
UBAM - EUROPE EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
724,543,990.36
Securities portfolio at market value Cash at banks Interest receivable on bonds and other debt securities Receivable on issues of shares Dividends receivable Unrealised gain on forward foreign exchange contracts
Note 2
720,317,458.38 2,812,697.87 0.35 135,932.66 650,166.36 627,734.74
Note 2, 8
Liabilities
4,576,588.90
Bank liabilities Payable on redemptions of shares Interest payable on bank liabilities and expenses payable
1,902,105.37 65,475.27 2,609,008.26
Net assets at the end of the period
719,967,401.46
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
A CHF shares
Capitalisation shares
A USD shares
Capitalisation shares
AH USD shares
Capitalisation shares
A GBP shares
Capitalisation shares
I shares
Capitalisation shares Distribution shares
I USD shares
Capitalisation shares
IH USD shares
Capitalisation shares
U shares
Distribution shares
U GBP sahres
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
686,301.778
91,412.405
302,038.028
475,676.155
38,658.222
15,867.000
10,207.958
44,317.264
5,914.000
379.000
1,161.000
5,132.000
25,327.000
765.000
3,099.000
22,993.000
419,328.988
56,562.000
111,032.328
364,858.660
11,636.032
199.000
1,190.000
10,645.032
1,189,214.435
229,767.749
249,701.382
1,169,280.802
66,733.462
6,210.000
267.000
72,676.462
1,271.002
102.000
21.000
1,352.002
28,680.740
2,605.000
4,895.000
26,390.740
21,453.000
24,610.000
31,382.000
14,681.000
1,500.000
0.000
0.000
1,500.000
The accompanying notes are an integral part of these financial statements.
Page 202
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EUROPE EQUITY Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
3,901.304
403.460
Shares redeemed
815.786
Shares outstanding as at 30/06/2016
3,488.978
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
A CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
A USD shares Capitalisation shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
A GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
719,967,401.46
917,534,372.93
508,682,076.77
EUR
EUR
EUR
475,676.155 367.49
686,301.778 417.91
566,277.501 383.41
44,317.264 358.09 7.43
38,658.222 415.28 1.44
34,583.022 382.21 -
CHF
CHF
CHF
5,132.000 397.68
5,914.000 454.38
4,856.000 460.94
USD
USD
USD
22,993.000 408.19
25,327.000 453.90
63,341.700 463.81
USD
USD
USD
364,858.660 80.30
419,328.988 91.22
-
GBP
GBP
GBP
10,645.032 264.72
11,636.032 267.00
11,212.934 257.92
EUR
EUR
EUR
1,169,280.802 390.42
1,189,214.435 442.36
602,919.974 402.86
72,676.462 380.44 7.87
66,733.462 439.55 1.52
10,156.462 401.57 -
The accompanying notes are an integral part of these financial statements.
Page 203
UBAM - EUROPE EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets I USD shares Capitalisation shares Number of shares outstanding Net asset value per share
IH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
U GBP sahres Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
719,967,401.46
917,534,372.93
508,682,076.77
USD
USD
USD
1,352.002 415.67
1,271.002 460.52
1,827.000 467.15
USD
USD
USD
26,390.740 79.39
28,680.740 89.86
-
EUR
EUR
EUR
14,681.000 87.53 1.81
21,453.000 101.12 -
-
GBP
GBP
GBP
1,500.000 96.29
1,500.000 96.77
-
EUR
EUR
EUR
3,488.978 339.84
3,901.304 387.43
2,259.481 357.24
The accompanying notes are an integral part of these financial statements.
Page 204
UBAM - EUROPE EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Market value
% of total net assets
730,111,649.83
720,317,458.38
100.05
730,111,649.83
720,317,458.38
100.05
DKK
20,157,377.15 20,157,377.15
19,239,343.42 19,239,343.42
2.67 2.67
EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR
420,039,978.13 14,963,646.67 20,872,292.16 347,041.50 11,740,305.02 5,674,981.24 10,377,096.09 17,737,719.95 6,022,296.21 9,688,809.14 9,838,171.26 13,210,755.76 21,674,954.37 13,121,714.42 6,248,977.82 11,189,733.37 13,605,967.06 18,818,967.42 6,294,675.91 7,402,385.29 10,539,342.20 16,795,518.37 8,711,126.06 12,424,360.17 6,990,539.77 13,111,887.61 16,492,350.15 6,730,520.90 4,897,016.81 750,353.50 12,244,936.56 9,007,778.91 9,184,093.98 7,570,726.35 8,095,420.49 5,700,165.89 353,219.33 25,626,074.90 20,670,491.39 5,313,564.13
429,097,002.64 16,522,910.30 21,877,128.00 346,151.65 9,759,953.19 4,068,172.39 9,742,953.75 17,920,050.72 6,631,309.40 10,044,242.00 9,710,000.98 14,805,097.60 22,106,438.64 14,079,208.70 5,487,178.13 9,881,547.78 16,871,412.51 22,357,162.50 8,861,358.68 8,371,275.03 10,885,236.03 14,037,940.37 6,198,956.83 9,932,156.64 7,207,951.38 12,301,788.40 19,639,648.00 6,578,772.84 4,565,042.44 619,772.58 12,165,481.88 10,061,550.38 11,195,112.23 6,688,880.85 7,611,062.03 5,779,544.43 328,153.00 25,681,697.46 22,192,644.21 5,982,058.71
59.60 2.29 3.04 0.05 1.36 0.57 1.35 2.49 0.92 1.40 1.35 2.06 3.07 1.96 0.76 1.37 2.34 3.11 1.23 1.16 1.51 1.95 0.86 1.38 1.00 1.71 2.73 0.91 0.63 0.09 1.69 1.40 1.55 0.93 1.06 0.80 0.05 3.56 3.08 0.83
NOK
6,319,633.78 6,319,633.78
6,543,395.29 6,543,395.29
0.91 0.91
GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP
204,331,833.75 5,254,973.34 10,351,699.87 14,052,910.09 3,588,280.70 4,709,940.08 12,225,969.47 5,288,961.51 11,453,157.59 9,941,155.95 2,018,574.60 8,217,218.10 7,512,674.71 18,761,817.09 22,862,907.24 5,962,216.95 27,976,044.15 25,011,978.95 9,141,353.36
183,839,714.08 5,068,442.99 9,061,650.12 13,155,840.42 3,694,345.73 4,520,029.40 11,852,163.59 4,374,518.02 8,015,975.02 8,394,613.32 1,883,161.53 7,357,521.21 4,985,441.31 14,985,124.97 24,577,798.93 6,886,546.07 22,170,438.29 23,702,579.09 9,153,524.07
25.53 0.70 1.26 1.83 0.51 0.63 1.65 0.61 1.11 1.17 0.26 1.02 0.69 2.08 3.41 0.96 3.08 3.29 1.27
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
Danish Krone
399,712 NOVO NORDISK 830,297 186,030 17,797 548,158 21,990,121 1,689,139 261,073 166,011 386,317 132,037 968,920 1,522,482 118,462 190,958 566,765 216,217 1,788,573 121,123 101,139 363,933 1,529,354 3,876,771 226,142 165,948 265,640 114,184 312,828 322,846 163,961 830,125 644,558 144,509 282,410 208,351 574,222 17,738 592,017 529,531 149,067
Euro
AHOLD ANHEUSER-BUSCH INBEV NV ASR AXA SA BANK OF IRELAND (GOV&CO) BANKINTER REG.SHS BASF - NAMEN AKT COVESTRO AG CRH PLC DEUTSCHE BOERSE AG REG SHS DEUTSCHE TELEKOM AG REG SHS ENI SPA ESSILOR INTERNATIONAL SA FAURECIA FERROVIAL SA FRESENIUS MEDICAL CARE AG & CO KGAA GALP ENERGIA SA REG SHS -BHEINEKEN HOLDING HEINEKEN NV INDITEX SHARE FROM SPLIT ING GROEP NV INTESA SANPAOLO SPA NON CONV KBC GROUPE SA KION GROUP LEGRAND SA L'OREAL SA METSO CORP MONCLER SPA NH HOTELES SA ORANGE REED ELSEVIER NV REMY COINTREAU SALZGITTER AG SAMPO OYJ -ATELECINCO TITAN CEMENT REG.* TOTAL SA UNILEVER NV VALEO SA
640,316 XXL 904,667 665,843 244,754 1,478,895 179,989 472,070 1,136,076 613,414 894,403 367,285 2,038,156 180,137 990,723 272,702 1,980,299 803,171 424,435 1,389,413
Norwegian Krone Pound Sterling
ANTOfa*gASTA PLC ARM HOLDINGS PLC ASTRAZENECA PLC CAIRN ENERGY PLC CRANSWICK DIAGEO PLC DIXONS CARPHONE PLC EASYJET PLC GREENE KING PLC JUST EAT PLC NEW RIVER RETAIL LIMITED GBP PROVIDENT FINANCIAL PRUDENTIAL PLC RECKITT BENCKISER GROUP PLC REGUS RIO TINTO PLC SHIRE 3I GROUP PLC
The accompanying notes are an integral part of these financial statements.
Page 205
Cost
UBAM - EUROPE EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Currency
Swedish Krone
834,090 ASSA ABLOY -B- NEW I 1,257,986 SANDVIK AB 576,024 SHB -A-
Swiss Franc
420,686 ABB LTD REG SHS 415,007 CLARIANT NAMEN AKT 126,665 ROCHE HOLDING AG GENUSSSCHEIN
US Dollar
115,472 LIVANOVA
Market value
% of total net assets
SEK SEK SEK
29,714,873.62 11,437,406.55 11,693,712.61 6,583,754.46
32,672,965.89 15,250,260.44 11,192,938.04 6,229,767.41
4.54 2.12 1.55 0.87
CHF CHF CHF
43,067,582.71 7,784,267.14 7,835,371.17 27,447,944.40
43,704,137.33 7,431,873.16 6,300,069.31 29,972,194.86
6.07 1.03 0.88 4.16
USD
6,480,370.69 6,480,370.69
5,220,899.73 5,220,899.73
0.73 0.73
730,111,649.83
720,317,458.38
100.05
910,592.50
0.13
-1,260,649.42
-0.18
719,967,401.46
100.00
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 206
Cost
UBAM - EUROPE EQUITY
Geographical classification of investments (by domicile of the issuer) United Kingdom France The Netherlands Germany Switzerland Spain Italy Sweden Belgium Jersey Island Portugal Denmark Finland Ireland Guernsey Norway Greece
% of net assets 20.99 16.15 11.16 11.09 6.07 5.12 4.56 4.54 4.42 4.25 3.11 2.67 1.97 1.97 1.02 0.91 0.05 100.05
Page 207
UBAM - EUROPE EQUITY
Industrial classification of investments % of net assets 15.69 10.25 8.63 7.67 6.49 5.58 5.16 4.71 4.55 4.29 3.79 3.78 3.29 2.74 2.48 1.98 1.59 1.45 1.40 1.26 0.93 0.89 0.73 0.63 0.09
Pharmaceuticals and cosmetics Petroleum Tobacco and alcoholic drinks Banks and credit institutions Miscellaneous consumer goods Machine and apparatus construction Communications Retail trade, department stores Insurance Chemicals Holding and finance companies Non-ferrous metals Biotechnology Electrical engineering and electronics Transportation Real estate companies Road vehicles Building materials and trade Graphic art and publishing Electronics and semiconductors Coal mining and steel industry Foods and non alcoholic drinks Healthcare and social services Textiles and garments Hotels and restaurants
100.05
Page 208
UBAM - EUROPE EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
16,116,912.28
Dividends, net Interest on bank accounts
Note 2
Expenses
16,116,533.32 378.96 8,833,118.58
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
4,690,974.07 801,566.99 89,794.55 405,741.34 7,797.48 1,007.37 8,759.01 2,505,230.40 301,711.61 570.00 19,965.76 7,283,793.70
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-42,095,863.24 -1,124,178.84 -4,190,984.92 -40,127,233.30
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-68,881,488.19 379,336.05 -108,629,385.44
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-972,831.87 132,829,492.70 10,678,577.87 -224,652,441.05 -6,820,383.68 -197,566,971.47
Total net assets at the beginning of the period
917,534,372.93
Total net assets at the end of the period
719,967,401.46
The accompanying notes are an integral part of these financial statements.
Page 209
UBAM - EUROPE EQUITY DIVIDEND+
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
72,584,352.46
Securities portfolio at market value Cash at banks Deposits on futures and option contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Dividends receivable Unrealised gain on forward foreign exchange contracts
Note 2
60,139,319.94 8,567,467.05 3,646,978.35 0.04 25,166.55 190,180.91 15,239.62
Note 2, 8
Liabilities
3,104,111.96
Short option contracts at market value Unrealised loss on futures contracts Interest payable on bank liabilities and expenses payable
Note 2, 11 Note 2, 9
2,538,028.00 276,265.00 289,818.96
Net assets at the end of the period
69,480,240.50
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
133,140.660
333,535.336
35,645.437
431,030.559
10,269.769
24,753.000
370.070
34,652.699
Capitalisation shares
4,125.000
0.000
1,500.000
2,625.000
Distribution shares
4,775.000
0.000
0.000
4,775.000
28,039.092
0.000
4,545.444
23,493.648
5,511.917
0.000
1,520.000
3,991.917
2,297.000
850.000
0.000
3,147.000
5,487.000
1,013.000
1,050.000
5,450.000
700.000
0.000
0.000
700.000
8,474.000
7,331.000
7,050.000
8,755.000
21.000
0.000
21.000
0.000
Capitalisation shares
47,168.489
20,063.000
4,204.000
63,027.489
Distribution shares
59,633.806
3,191.393
45,963.784
16,861.415
A shares
Capitalisation shares Distribution shares
A CHF shares
A USD shares
Capitalisation shares Distribution shares
AH shares
Capitalisation shares
AH CHF shares
Capitalisation shares Distribution shares
AH USD shares
Capitalisation shares
AH SEK shares
Capitalisation shares
I shares
The accompanying notes are an integral part of these financial statements.
Page 210
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EUROPE EQUITY DIVIDEND+ Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
20,000.000
0.000
0.000
20,000.000
Capitalisation shares
145.000
0.000
0.000
145.000
Distribution shares
500.000
0.000
500.000
0.000
3,718.278
0.000
845.245
2,873.033
140.000
0.000
0.000
140.000
0.000
640.000
0.000
640.000
431.434
0.000
0.000
431.434
4,637.734
2,400.000
1,251.398
5,786.336
0.000
19,033.000
2,777.000
16,256.000
0.000
200.000
0.000
200.000
2,940.602
0.000
662.000
2,278.602
312.172
0.000
0.000
312.172
I CHF shares
Capitalisation shares
I USD shares
I GBP shares
Distribution shares
IH shares
Capitalisation shares
IH USD shares
Capitalisation shares
IH GBP shares
Capitalisation shares Distribution shares
UD shares
Distribution shares
UD GBP shares
Distribution shares
R shares
Capitalisation shares Distribution shares
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
69,480,240.50
34,662,427.08
70,410,516.28
EUR
EUR
EUR
431,030.559 113.70
133,140.660 114.76
267,387.250 111.87
34,652.699 74.72 3.07
10,269.769 78.57 8.41
12,296.519 84.78 9.27
The accompanying notes are an integral part of these financial statements.
Page 211
UBAM - EUROPE EQUITY DIVIDEND+ Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
A USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH shares Capitalisation shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH SEK shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
69,480,240.50
34,662,427.08
70,410,516.28
CHF
CHF
CHF
2,625.000 100.58
4,125.000 101.98
5,125.000 109.93
4,775.000 66.08 2.73
4,775.000 69.80 7.57
6,495.000 83.35 9.22
USD
USD
USD
23,493.648 97.20
28,039.092 95.92
54,308.918 104.16
3,991.917 65.41 2.69
5,511.917 67.26 7.51
9,339.301 80.92 9.86
EUR
EUR
EUR
3,147.000 105.16
2,297.000 103.63
1,197.000 101.95
CHF
CHF
CHF
5,450.000 109.10
5,487.000 107.85
4,629.000 108.57
700.000 73.92 2.99
700.000 76.12 8.23
1,965.000 84.81 9.42
USD
USD
USD
8,755.000 107.18
8,474.000 105.73
8,160.000 105.72
-
-
2.41
SEK
SEK
SEK
-
21.000 1,027.87
132.000 1,026.38
The accompanying notes are an integral part of these financial statements.
Page 212
UBAM - EUROPE EQUITY DIVIDEND+ Key figures relating to the last 3 years Period/Year ended as at:
Total net assets I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH shares Capitalisation shares Number of shares outstanding Net asset value per share
IH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
69,480,240.50
34,662,427.08
70,410,516.28
EUR
EUR
EUR
63,027.489 117.61
47,168.489 118.27
70,743.739 114.45
16,861.415 77.31 3.16
59,633.806 80.97 8.63
174,897.372 86.73 9.44
CHF
CHF
CHF
20,000.000 97.40
20,000.000 98.41
20,000.000 105.29
-
-
2.39
USD
USD
USD
145.000 92.93
145.000 91.38
145.000 98.50
1.35
500.000 67.61 7.52
500.000 80.74 9.79
GBP
GBP
GBP
-
-
603.742 88.81
2,873.033 65.87 2.48
3,718.278 61.19 6.53
12,796.391 69.00 7.84
EUR
EUR
EUR
140.000 118.12
140.000 115.97
4,040.000 113.21
USD
USD
USD
640.000 100.43
-
-
-
-
7.46
The accompanying notes are an integral part of these financial statements.
Page 213
UBAM - EUROPE EQUITY DIVIDEND+ Key figures relating to the last 3 years Period/Year ended as at:
Total net assets IH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UD shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UD GBP shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
69,480,240.50
34,662,427.08
70,410,516.28
GBP
GBP
GBP
431.434 90.25
431.434 88.34
2,226.278 87.04
5,786.336 63.94 2.57
4,637.734 65.19 6.96
49,168.894 71.10 7.87
EUR
EUR
EUR
16,256.000 101.90 -
-
-
GBP
GBP
GBP
200.000 106.31 -
-
-
EUR
EUR
EUR
2,278.602 112.28
2,940.602 113.60
2,741.307 111.30
312.172 77.10 3.18
312.172 81.27 8.74
504.740 88.14 9.67
The accompanying notes are an integral part of these financial statements.
Page 214
UBAM - EUROPE EQUITY DIVIDEND+ Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Market value
% of total net assets
60,366,272.45
60,139,319.94
86.55
60,366,272.45
60,139,319.94
86.55
EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR
38,016,704.12 2,109,370.50 2,184,045.36 2,128,002.55 2,404,773.81 1,895,662.40 1,859,654.03 2,680,183.63 2,079,938.67 2,858,902.01 2,220,688.09 1,909,807.91 2,703,914.85 2,147,580.87 1,863,591.09 2,770,820.62 1,896,728.54 2,303,039.19
38,134,885.28 2,107,947.30 1,955,084.40 2,112,464.64 1,868,222.64 2,088,903.70 2,133,833.00 2,663,670.72 1,797,440.75 2,628,066.50 2,286,127.72 2,457,575.96 2,888,363.60 1,825,075.33 1,948,391.82 2,929,060.98 1,836,722.65 2,607,933.57
54.88 3.03 2.81 3.04 2.69 3.01 3.07 3.83 2.59 3.78 3.29 3.54 4.16 2.63 2.80 4.22 2.64 3.75
GBP GBP GBP GBP GBP GBP
13,524,656.10 2,304,346.96 2,260,483.32 2,306,058.51 1,727,852.65 2,294,822.67 2,631,091.99
13,478,295.66 2,377,472.80 2,680,739.34 1,857,375.73 1,943,742.78 2,262,918.31 2,356,046.70
19.40 3.42 3.86 2.67 2.80 3.26 3.39
SEK
2,054,650.78 2,054,650.78
1,784,115.91 1,784,115.91
2.57 2.57
CHF CHF CHF CHF
6,770,261.45 1,616,746.88 1,685,713.97 1,745,439.03 1,722,361.57
6,742,023.09 1,669,575.67 1,707,936.29 1,761,441.74 1,603,069.39
9.70 2.40 2.46 2.53 2.31
-2,404,892.00
-2,538,028.00
-3.65
-2,404,892.00
-2,538,028.00
-3.65
-2,404,892.00 -2,404,892.00
-2,538,028.00 -2,538,028.00
-3.65 -3.65
57,961,380.45
57,601,291.94
82.90
Cash at banks/(bank liabilities)
8,567,467.05
12.33
Other net assets/(liabilities)
3,311,481.51
4.77
69,480,240.50
100.00
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
Euro
105,927 15,298 30,776 34,907 28,405 84,760 174,324 11,963 179,329 28,516 157,436 117,080 49,961 21,222 67,521 7,861 62,227
AHOLD ALLIANZ SE REG SHS BASF - NAMEN AKT DAIMLER AG REG SHS DEUTSCHE BOERSE AG REG SHS DEUTSCHE POST AG REG SHS DEUTSCHE TELEKOM AG REG SHS MUENCHENER RUECKVERSICHERUNGS AG REG SHS ORANGE RED ELECTRICA CORPORACION SA REED ELSEVIER NV ROYAL DUTCH SHELL PLC SAMPO OYJ -ASIEMENS AG REG SHS TOTAL SA UNIBAIL-RODAMCO SE UNILEVER NV
44,231 46,001 376,481 77,419 81,979 860,089
ASTRAZENECA PLC BRITISH AMERICAN TOBACCO PLC BT GROUP PLC DIAGEO PLC RIO TINTO PLC VODAFONE GROUP
Pound Sterling
Swedish Krone
164,965 SHB -A24,045 23,063 7,444 20,472
Swiss Franc
NESTLE SA REG SHS NOVARTIS AG REG SHS ROCHE HOLDING AG GENUSSSCHEIN SWISS RE NAMEN AKT
Derivative instruments Options Euro
-1,858 DJ EUR STOXX 50 AUG 2800 22.08.16 CALL
EUR
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 215
Cost
UBAM - EUROPE EQUITY DIVIDEND+
Geographical classification of investments (by domicile of the issuer) Germany United Kingdom The Netherlands France Switzerland Spain Finland Sweden
% of net assets 20.19 19.40 14.48 10.64 9.70 3.29 2.63 2.57 82.90
Industrial classification of investments % of net assets 13.67 10.34 8.41 8.38 6.66 3.75 3.54 3.29 3.26 3.07 3.04 3.03 2.80 2.69 2.64 2.57 2.40 -0.64
Communications Insurance Pharmaceuticals and cosmetics Petroleum Tobacco and alcoholic drinks Miscellaneous consumer goods Graphic art and publishing Utilities Non-ferrous metals Transportation Chemicals Retail trade, department stores Electrical engineering and electronics Road vehicles Real estate companies Banks and credit institutions Foods and non alcoholic drinks Holding and finance companies
82.90
Page 216
UBAM - EUROPE EQUITY DIVIDEND+ Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
1,490,043.97
Dividends, net Interest on bank accounts
Note 2
Expenses
1,490,014.47 29.50 656,912.73
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
354,176.73 69,414.94 14,377.84 26,322.06 677.54 14,602.68 2,793.15 125,043.15 43,272.27 2,520.00 3,712.37 833,131.24
Net realised gain/(loss) on: - securities portfolio - options contracts - forward foreign exchange contracts - futures contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-1,849,287.14 3,262,377.00 -49,141.97 -10,267.15 -53,966.03 2,132,845.95
Net variation of the unrealised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - futures contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
-1,676,935.41 -156,334.00 31,633.07 -211,945.00 119,264.61
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-241,591.42 40,618,304.17 4,216,402.26 -5,808,741.88 -4,085,824.32
Total changes in net assets
34,817,813.42
Total net assets at the beginning of the period
34,662,427.08
Total net assets at the end of the period
69,480,240.50
The accompanying notes are an integral part of these financial statements.
Page 217
UBAM - EUROPE EQUITY FLEX
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
23,852,155.75
Securities portfolio at market value Options contracts at market value Cash at banks Deposits on futures and option contracts Interest receivable on bonds and other debt securities Dividends receivable
Note 2 Note 2, 11
20,789,798.21 17,983.00 1,448,942.30 1,579,110.58 0.02 16,321.64
Liabilities
354,045.74
Short option contracts at market value Bank liabilities Payable on purchases of securities Unrealised loss on futures contracts Interest payable on bank liabilities and expenses payable
Note 2, 11
70,853.00 51,545.18 1.00 174,030.00 57,616.56
Note 2, 9
Net assets at the end of the period
23,498,110.01
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
IP shares
Capitalisation shares
R shares
Capitalisation shares
Z shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
159,181.000
9,023.000
102,150.000
66,054.000
62,770.000
39,099.042
12,250.000
89,619.042
10.000
0.000
0.000
10.000
105,765.000
0.000
19,569.000
86,196.000
The accompanying notes are an integral part of these financial statements.
Page 218
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EUROPE EQUITY FLEX Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
Z shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
23,498,110.01
35,182,273.21
5,347,383.66
EUR
EUR
EUR
66,054.000 101.00
159,181.000 111.94
395.000 104.84
EUR
EUR
EUR
89,619.042 103.02
62,770.000 113.56
10.000 105.19
EUR
EUR
EUR
10.000 84.30
10.000 93.62
-
EUR
EUR
EUR
86,196.000 88.10
105,765.000 96.76
49,980.000 106.14
The accompanying notes are an integral part of these financial statements.
Page 219
UBAM - EUROPE EQUITY FLEX Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Market value
% of total net assets
21,918,108.73
20,789,798.21
88.47
21,918,108.73
20,789,798.21
88.47
DKK
569,214.56 569,214.56
544,336.26 544,336.26
2.32 2.32
EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR
12,591,933.36 440,434.65 604,553.22 10,003.50 356,328.21 164,120.78 325,955.69 503,021.08 79.67 176,859.34 285,869.80 264,840.77 437,832.60 621,389.32 362,959.98 174,486.59 311,717.13 453,523.29 537,095.82 211,752.83 222,018.89 304,828.94 548,551.35 294,028.05 361,619.04 214,416.20 382,374.48 528,969.01 190,654.30 137,594.51 21,367.30 361,887.89 266,243.31 262,605.70 229,098.86 268,411.55 182,549.78 9,697.94 747,893.54 623,080.36 191,218.09
12,317,904.63 473,739.40 634,216.80 9,977.85 277,117.02 117,651.31 277,267.76 517,888.80 57.08 191,975.67 291,174.00 259,963.90 424,203.36 640,854.72 389,352.60 156,433.34 277,896.47 477,309.51 636,100.00 245,817.60 239,370.84 314,683.11 400,048.36 175,818.05 283,240.08 218,217.44 346,815.59 570,008.00 186,830.52 128,136.68 17,648.82 359,501.81 287,957.67 318,556.64 189,243.15 225,463.16 163,787.75 9,009.50 744,487.56 668,045.40 172,037.31
52.41 2.02 2.69 0.04 1.18 0.50 1.18 2.19 0.00 0.82 1.24 1.11 1.81 2.72 1.66 0.67 1.18 2.02 2.70 1.05 1.02 1.34 1.70 0.75 1.21 0.93 1.48 2.42 0.80 0.55 0.08 1.53 1.23 1.36 0.81 0.96 0.70 0.04 3.16 2.83 0.73
NOK
186,265.19 186,265.19
193,098.40 193,098.40
0.82 0.82
GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP GBP
6,123,751.35 149,098.64 269,136.86 410,484.06 103,889.43 128,258.05 395,576.14 188,577.16 331,407.16 294,159.14 57,723.71 253,957.73 222,233.23 573,388.46 725,314.35 206,066.77 802,919.13 762,023.17
5,386,088.67 144,299.31 244,531.71 373,893.89 107,096.17 125,338.03 380,844.94 122,289.63 231,927.42 238,800.79 53,851.49 213,030.50 147,235.43 422,408.27 786,537.87 208,644.75 643,689.14 687,172.91
22.92 0.61 1.04 1.59 0.46 0.53 1.62 0.52 0.99 1.02 0.23 0.91 0.63 1.80 3.34 0.89 2.74 2.92
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
Danish Krone
11,309 NOVO NORDISK 23,806 5,393 513 15,564 635,953 48,070 7,545 1 4,806 11,199 3,535 27,762 44,136 3,276 5,444 15,939 6,117 50,888 3,360 2,892 10,521 43,583 109,955 6,449 5,024 7,489 3,314 8,884 9,062 4,669 24,531 18,447 4,112 7,990 6,172 16,273 487 17,162 15,940 4,287
Euro
AHOLD ANHEUSER-BUSCH INBEV NV ASR AXA SA BANK OF IRELAND (GOV&CO) BANKINTER REG.SHS BASF - NAMEN AKT BMW VORZUG - STIMMRECHTSLOS COVESTRO AG CRH PLC DEUTSCHE BOERSE AG REG SHS DEUTSCHE TELEKOM AG REG SHS ENI SPA ESSILOR INTERNATIONAL SA FAURECIA FERROVIAL SA FRESENIUS MEDICAL CARE AG & CO KGAA GALP ENERGIA SA REG SHS -BHEINEKEN HOLDING HEINEKEN NV INDITEX SHARE FROM SPLIT ING GROEP NV INTESA SANPAOLO SPA NON CONV KBC GROUPE SA KION GROUP LEGRAND SA L'OREAL SA METSO CORP MONCLER SPA NH HOTELES SA ORANGE REED ELSEVIER NV REMY COINTREAU SALZGITTER AG SAMPO OYJ -ATELECINCO TITAN CEMENT REG.* TOTAL SA UNILEVER NV VALEO SA
18,896 XXL 25,756 17,968 6,956 42,872 4,991 15,169 31,759 17,748 25,443 10,503 59,013 5,320 27,927 8,727 59,998 23,319 12,305
Norwegian Krone Pound Sterling
ANTOfa*gASTA PLC ARM HOLDINGS PLC ASTRAZENECA PLC CAIRN ENERGY PLC CRANSWICK DIAGEO PLC DIXONS CARPHONE PLC EASYJET PLC GREENE KING PLC JUST EAT PLC NEW RIVER RETAIL LIMITED GBP PROVIDENT FINANCIAL PRUDENTIAL PLC RECKITT BENCKISER GROUP PLC REGUS RIO TINTO PLC SHIRE
The accompanying notes are an integral part of these financial statements.
Page 220
Cost
UBAM - EUROPE EQUITY FLEX Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Market value
% of total net assets
249,538.16
254,496.42
1.08
SEK SEK SEK
955,578.43 415,846.24 352,872.36 186,859.83
946,247.03 435,920.24 334,635.20 175,691.59
4.03 1.86 1.42 0.75
CHF CHF CHF
1,311,590.44 221,230.77 207,795.21 882,564.46
1,256,671.21 211,215.67 176,565.95 868,889.59
5.35 0.90 0.75 3.70
USD
179,775.40 179,775.40
145,452.01 145,452.01
0.62 0.62
-56,409.00
-52,870.00
-0.22
-56,409.00
-52,870.00
-0.22
-56,409.00 -14,715.00 -21,462.00 -21,340.00 -9,180.00 10,288.00
-52,870.00 -13,932.00 -37,877.00 -8,595.00 -10,449.00 17,983.00
-0.22 -0.06 -0.16 -0.04 -0.04 0.08
21,861,699.73
20,736,928.21
88.25
Cash at banks/(bank liabilities)
1,397,397.12
5.95
Other net assets/(liabilities)
1,363,784.68
5.80
23,498,110.01
100.00
Description
Currency
38,630 3I GROUP PLC
GBP
Swedish Krone
23,842 ASSA ABLOY -B- NEW I 37,610 SANDVIK AB 16,245 SHB -A-
Swiss Franc
11,956 ABB LTD REG SHS 11,631 CLARIANT NAMEN AKT 3,672 ROCHE HOLDING AG GENUSSSCHEIN
US Dollar
3,217 LIVANOVA
Derivative instruments Options -27 -49 -45 -27 49
Euro
DJ EUR STOXX 50 AUG 2700 22.08.16 PUT DJ EURO STOXX 50 JUL 2900 18.07.16 PUT DJ EURO STOXX 50 AUG 2500 22.08.16 PUT DJ EURO STOXX 50 AUG 3000 22.08.16 CALL DJ EURO STOXX 50 JUL 2900 18.07.16 CALL
EUR EUR EUR EUR EUR
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 221
Cost
UBAM - EUROPE EQUITY FLEX
Geographical classification of investments (by domicile of the issuer) United Kingdom France The Netherlands Germany Switzerland Spain Sweden Italy Belgium Jersey Island Portugal Denmark Finland Ireland Guernsey Norway Greece
% of net assets 18.82 14.19 9.89 9.47 5.35 4.48 4.03 4.02 3.90 3.81 2.70 2.32 1.76 1.74 0.91 0.82 0.04 88.25
Page 222
UBAM - EUROPE EQUITY FLEX
Industrial classification of investments % of net assets 13.71 9.04 7.74 6.72 6.17 5.01 4.56 4.18 3.98 3.76 3.35 2.99 2.92 2.38 2.17 1.80 1.40 1.28 1.23 1.04 0.81 0.76 0.62 0.55 0.08
Pharmaceuticals and cosmetics Petroleum Tobacco and alcoholic drinks Banks and credit institutions Miscellaneous consumer goods Machine and apparatus construction Communications Retail trade, department stores Insurance Chemicals Non-ferrous metals Holding and finance companies Biotechnology Electrical engineering and electronics Transportation Real estate companies Road vehicles Building materials and trade Graphic art and publishing Electronics and semiconductors Coal mining and steel industry Foods and non alcoholic drinks Healthcare and social services Textiles and garments Hotels and restaurants
88.25
Page 223
UBAM - EUROPE EQUITY FLEX Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
461,581.90
Dividends, net Interest on bank accounts Other income
Note 2
Expenses
458,123.94 151.68 3,306.28 317,904.42
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
109,033.82 33,103.77 2,608.41 13,455.58 874.06 5,568.59 2,399.83 136,652.57 12,201.98 2,005.81 143,677.48
Net realised gain/(loss) on: - securities portfolio - options contracts - futures contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2
Realised result
-2,917,951.73 124,760.00 447,266.00 -562,539.20 -2,764,787.45
Net variation of the unrealised gain/(loss) on: - securities portfolio - option contracts - futures contracts
Note 2 Note 2 Note 2
Result of operations
-675,213.68 3,727.00 -49,040.00 -3,485,314.13
Subscriptions capitalisation shares Redemptions capitalisation shares
5,083,730.46 -13,282,579.53
Total changes in net assets
-11,684,163.20
Total net assets at the beginning of the period
35,182,273.21
Total net assets at the end of the period
23,498,110.01
The accompanying notes are an integral part of these financial statements.
Page 224
UBAM - EUROPEAN OPPORTUNITIES EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
3,157,855.90
Securities portfolio at market value Cash at banks Interest receivable on bonds and other debt securities Dividends receivable
Note 2
2,864,041.90 283,852.58 0.01 9,961.41
Liabilities
17,138.25
Interest payable on bank liabilities and expenses payable
17,138.25
Net assets at the end of the period
3,140,717.65
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
A CHF shares
Capitalisation shares
I shares
Capitalisation shares
UP GBP shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
41,907.000
1,330.000
9,460.000
33,777.000
1,075.000
0.000
1,000.000
75.000
4,550.000
0.000
0.000
4,550.000
375.000
0.000
0.000
375.000
The accompanying notes are an integral part of these financial statements.
Page 225
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EUROPEAN OPPORTUNITIES EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
A CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
UP GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
3,140,717.65
4,681,273.76
6,450,883.78
EUR
EUR
EUR
33,777.000 80.79
41,907.000 97.99
59,320.000 83.81
CHF
CHF
CHF
75.000 68.77
1,075.000 83.73
1,500.000 79.18
EUR
EUR
EUR
4,550.000 80.20
4,550.000 96.92
16,255.922 82.27
GBP
GBP
GBP
375.000 93.52
375.000 100.11
375.000 89.42
The accompanying notes are an integral part of these financial statements.
Page 226
UBAM - EUROPEAN OPPORTUNITIES EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Cost
Market value
% of total net assets
3,071,076.65
2,864,041.90
91.19
3,071,076.65
2,864,041.90
91.19
EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR
2,799,567.19 77,392.08 14,679.98 110,490.72 64,550.89 84,067.82 86,074.06 105,489.17 57,325.93 46,178.51 74,818.26 123,785.21 96,211.43 66,647.28 14,706.70 29,375.61 55,196.84 113,919.06 54,331.67 18,467.27 58,383.62 99,717.22 96,734.18 69,730.82 67,512.03 67,930.99 136,246.54 93,017.08 93,299.24 57,463.97 128,301.76 97,182.85 156.23 101,674.13 103,370.37 110,771.05 124,366.62
2,544,653.47 59,102.43 10,082.88 127,285.30 62,988.45 75,262.88 80,810.22 67,819.15 45,698.00 74,305.17 74,070.97 115,139.25 77,800.50 75,293.34 7,526.75 37,383.00 44,973.84 141,975.00 51,884.68 16,293.38 32,138.74 103,149.92 82,061.00 51,982.84 46,435.67 93,794.40 110,371.68 94,697.67 107,690.00 46,305.00 71,675.92 105,663.20 272.73 116,005.99 62,828.90 93,684.00 80,200.62
81.03 1.88 0.32 4.05 2.01 2.40 2.57 2.16 1.46 2.37 2.36 3.67 2.48 2.40 0.24 1.19 1.43 4.53 1.65 0.52 1.02 3.28 2.61 1.66 1.48 2.99 3.51 3.02 3.43 1.47 2.28 3.36 0.01 3.69 2.00 2.98 2.55
NOK
62,104.64 62,104.64
93,629.21 93,629.21
2.98 2.98
GBP GBP
145,785.52 66,693.00 79,092.52
157,455.33 81,294.75 76,160.58
5.01 2.59 2.42
CHF CHF
63,619.30 50,852.47 12,766.83
68,303.89 50,688.35 17,615.54
2.17 1.61 0.56
3,071,076.65
2,864,041.90
91.19
283,852.58
9.04
-7,176.83
-0.23
3,140,717.65
100.00
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
9,579 6,224 5,690 1,195 6,556 13,172 366,590 1,825 10,313 10,412 31,545 28,250 1,649 13,685 1,020 4,964 11,358 18,610 1,942 5,167 74,262 11,723 371,306 27,283 22,332 35,240 9,798 11,000 12,250 45,422 5,380 339 1,447 89,119 5,064 7,886
Euro
AEGEAN AIRLINES SHS ALPHA BANK AE ATLANTIA SPA AURELIUS AG AXIARE PATRIMONIO BANCA MEDIOLANUM BANK OF IRELAND (GOV&CO) BOLSAS Y MERCADOS ESPANOLES SA CORTICEIRA AMORIN SA CTT-CORREIOS DE PORTUGAL S.A. DALATA HOTEL GROUP PLC EDP-ENERGIAS REG.SHS EI TOWERS EUROBANK ERGASIAS FE NEW FINMECCANICA SPA GALP ENERGIA SA REG SHS -BGEOX SPA GR SARANTIS REG. GREEK ORGANISAT.OF FOOTBALL PROGNOSTICS* GREEN REIT GRIVALIA PROPERTIES* INDEPENDENT NEW AND MEDIA PLC INTESA SANPAOLO SPA IRISH CONTL GROUP UNITS MEDIASET SPA MELIA HOTELS MOTOR OIL HELLAS CORINTH REFIN.REG SHS* NH HOTELES SA PIAGGIO AND C SPA PRYSMIAN SPA RCS MEDIAGROUP RED ELECTRICA CORPORACION SA SONAE SGPS - REG SHS TITAN CEMENT REG.* TUI AG REG SHS
Norwegian Krone
33,737 HEXAGON COMPOSITES
Pound Sterling
12,000 GVC HOLDINGS PLC 30,154 SOPHOS GROUP PLC
Swiss Franc
650 SULZER AG NOM 309 VAT GROUP SA
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 227
UBAM - EUROPEAN OPPORTUNITIES EQUITY
Geographical classification of investments (by domicile of the issuer) Italy Ireland Portugal Greece Spain Germany Norway Isle of Man United Kingdom Switzerland The Netherlands
% of net assets 22.74 13.76 13.74 13.00 12.04 4.56 2.98 2.59 2.42 2.17 1.19 91.19
Industrial classification of investments % of net assets 14.25 11.73 9.40 7.96 7.69 6.77 6.17 5.35 5.01 3.89 3.31 3.17 1.67 1.65 1.46 1.19 0.52
Communications Hotels and restaurants Transportation Petroleum Real estate companies Banks and credit institutions Utilities Building materials and trade Internet and Internet services Machine and apparatus construction Aerospace industry Holding and finance companies Graphic art and publishing Textiles and garments Miscellaneous trading companies Road vehicles Chemicals
91.19
Page 228
UBAM - EUROPEAN OPPORTUNITIES EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
64,227.88
Dividends, net Interest on bank accounts Other income
Note 2
Expenses
63,271.72 5.89 950.27 50,974.50
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
30,005.47 3,549.73 745.16 1,829.62 138.43 15.84 2,097.96 6,773.56 5,371.64 447.09 13,253.38
Net realised gain/(loss) on: - securities portfolio - foreign exchange
Note 2 Note 2
Realised result
-320,256.83 -458.56 -307,462.01
Net variation of the unrealised gain/(loss) on: - securities portfolio
Note 2
Result of operations
-475,033.89 -782,495.90
Subscriptions capitalisation shares Redemptions capitalisation shares
116,161.40 -874,221.61
Total changes in net assets
-1,540,556.11
Total net assets at the beginning of the period
4,681,273.76
Total net assets at the end of the period
3,140,717.65
The accompanying notes are an integral part of these financial statements.
Page 229
UBAM - GCM MIDCAP US EQUITY GROWTH
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
40,683,564.12
Securities portfolio at market value Cash at banks Dividends receivable
Note 2
39,924,902.46 751,310.37 7,351.29
Liabilities
219,808.48
Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
Note 2, 8
37,894.79 181,913.69
Net assets at the end of the period
40,463,755.64
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares
AH CHF shares
Capitalisation shares
I shares
Capitalisation shares
IH CHF shares
Capitalisation shares
U shares
Distribution shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
93,275.061
12,057.573
18,541.711
86,790.923
4,956.000
16.000
0.000
4,972.000
5,214.000
200.000
575.000
4,839.000
1,620.000
0.000
120.000
1,500.000
14,293.730
1,236.370
5,234.525
10,295.575
840.000
0.000
840.000
0.000
1,330.000
3,094.000
0.000
4,424.000
586.198
0.000
156.792
429.406
The accompanying notes are an integral part of these financial statements.
Page 230
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GCM MIDCAP US EQUITY GROWTH Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Distribution shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
40,463,755.64
43,809,554.68
63,519,763.13
USD
USD
USD
86,790.923 368.67
93,275.061 362.46
107,802.795 355.63
4,972.000 368.62
4,956.000 362.41
4,760.000 355.59
EUR
EUR
EUR
4,839.000 262.11
5,214.000 259.47
6,176.000 255.56
CHF
CHF
CHF
1,500.000 327.48
1,620.000 324.74
1,500.000 321.07
USD
USD
USD
10,295.575 400.51
14,293.730 392.31
53,720.710 382.08
CHF
CHF
CHF
-
840.000 329.66
840.000 323.52
USD
USD
USD
4,424.000 102.96
1,330.000 100.98
-
USD
USD
USD
429.406 330.28
586.198 326.33
914.581 323.39
The accompanying notes are an integral part of these financial statements.
Page 231
UBAM - GCM MIDCAP US EQUITY GROWTH Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
1,974 2,980 3,818 8,303 17,594 8,156 4,342 8,582 13,466 8,786 15,525 10,772 14,286 4,199 13,738 3,889 13,665 20,283 12,414 10,792 6,830 9,231 13,091 2,265 8,685 6,142 3,376 9,002 9,184 5,224 7,342 30,871 16,381 6,283 7,716 4,514 3,888 10,674 5,010 14,338 10,969 3,685 5,880 3,430 8,324 3,677 13,203 6,316 11,174 10,143 7,398 11,105 1,767 5,751 9,869
US Dollar
ABIOMED INC ACUITY BRANDS AFFILIATED MANAGERS GROUP ALIGN TECHNOLOGY INC AMPHENOL -AANSYS INC BARD INC BEACON ROOFING SUPPLY INC BROADRIDGE FINANCIAL SOL -W/I CARTER S INC CERNER CORP CHURCH AND DWIGHT CO COGNIZANT TECHNOLOGY SOLUTIONS -ACOOPER COMPANIES INC COPART INC COSTAR GROUP INC DENTSPLY SIRONA INC EAST WEST BANCORP INC FASTENAL CO FISERV INC FORTUNE BRANDS HOME AND SECURITY W.ISS GARTNER GROUP INC -AHAIN CELESTIAL GROUP INC HENRY SCHEIN INC IDEX CORP IDEXX LABS CORP INTERCONEXCH GR INC WI INTUIT J.B. HUNT TRANSPORT SERVICES INC J.M. SMUCKER CO SHS/WHEN ISSUED J2 GLOBAL INC LKQ CORP MANHATTAN ASSOCIATES INC MAXIMUS INC MIDDLEBY CORP O REILLY AUTO PANERA BREAD CO -APAREXEL INTERNATIONAL PERRIGO COMPANY PLC RAYMOND JAMES FINANCIAL INC RED HAT ROPER TECHNOLOGIES SIGNATURE BANK SNAP ON INC STERIS PLC THE ULTIMATE SOFTWARE GROUP INC TRACTOR SUPPLY CO TYLER TECHNOLOGIES INC UNDER ARMOUR INC -AUNDER ARMOUR WHEN ISSUED VARIAN MEDICAL SYTEMS VERISK ANALYTICS INC WASTCO WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP WILLIAMS-SONOMA
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities)
The accompanying notes are an integral part of these financial statements.
Page 232
Market value
% of total net assets
34,129,495.29
39,924,902.46
98.67
34,129,495.29
39,924,902.46
98.67
34,129,495.29 200,956.75 585,307.12 765,447.49 493,464.53 792,825.38 714,805.83 677,974.19 281,597.08 729,449.66 795,504.74 830,455.96 775,109.42 696,799.37 700,807.88 471,444.90 699,714.67 612,275.60 733,855.52 579,976.08 674,460.71 400,512.57 764,274.85 653,081.87 398,479.86 631,494.46 411,293.27 691,617.24 726,204.13 727,362.41 565,592.49 567,223.93 952,427.16 705,794.98 410,839.52 694,303.08 709,864.97 697,639.66 546,078.88 764,633.02 794,856.82 648,516.40 535,580.65 672,858.07 551,427.70 609,268.15 580,709.52 1,003,024.87 661,538.40 316,885.10 288,773.49 571,280.23 725,394.20 240,576.52 426,670.91 671,183.03
39,924,902.46 215,738.46 738,920.80 537,459.86 668,806.65 1,008,664.02 740,157.00 1,021,064.72 390,223.54 877,983.20 935,445.42 909,765.00 1,108,331.08 817,730.64 720,422.43 673,299.38 850,368.74 847,776.60 693,272.94 551,057.46 1,173,414.16 395,935.10 899,191.71 651,277.25 400,452.00 713,038.50 570,346.12 864,120.96 1,004,713.22 743,261.12 796,189.84 463,794.14 978,610.70 1,050,513.53 347,889.71 889,269.00 1,223,745.40 824,022.72 671,181.12 454,256.70 706,863.40 796,349.40 628,513.60 734,529.60 541,322.60 572,275.00 773,236.33 1,203,849.54 1,052,940.36 448,412.62 369,205.20 608,337.54 900,393.40 248,599.23 403,892.73 514,470.97
98.67 0.53 1.83 1.33 1.65 2.49 1.83 2.52 0.96 2.17 2.31 2.25 2.74 2.02 1.78 1.66 2.10 2.10 1.71 1.36 2.90 0.98 2.22 1.61 0.99 1.76 1.41 2.14 2.48 1.84 1.97 1.15 2.42 2.60 0.86 2.20 3.02 2.04 1.66 1.12 1.75 1.97 1.55 1.82 1.34 1.41 1.91 2.98 2.60 1.11 0.91 1.50 2.23 0.61 1.00 1.27
34,129,495.29
39,924,902.46
98.67
751,310.37
1.86
-212,457.19
-0.53
Cost
UBAM - GCM MIDCAP US EQUITY GROWTH Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Total
The accompanying notes are an integral part of these financial statements.
Page 233
Cost
Market value
% of total net assets
40,463,755.64
100.00
UBAM - GCM MIDCAP US EQUITY GROWTH
Geographical classification of investments (by domicile of the issuer) United States of America United Kingdom Ireland
% of net assets 96.14 1.41 1.12 98.67
Industrial classification of investments % of net assets 22.76 15.26 13.95 7.01 6.27 5.62 5.28 4.94 4.08 2.55 2.49 2.25 2.10 1.84 1.41 0.86
Internet and Internet services Pharmaceuticals and cosmetics Holding and finance companies Machine and apparatus construction Retail trade, department stores Foods and non alcoholic drinks Banks and credit institutions Miscellaneous consumer goods Road vehicles Building materials and trade Electronics and semiconductors Healthcare and social services Real estate companies Transportation Biotechnology Miscellaneous services
98.67
Page 234
UBAM - GCM MIDCAP US EQUITY GROWTH Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
83,792.12
Dividends, net Interest on bank accounts
Note 2
Expenses
83,760.33 31.79 428,180.38
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
292,560.88 41,253.45 9,495.30 20,713.56 418.52 2,854.41 14,568.51 40,493.53 1,212.27 4,609.95 -344,388.26
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-747,991.23 62,466.24 433.79 -1,029,479.46
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
1,671,167.37 -15,708.47 625,979.44
Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares
4,698,866.02 316,865.14 -8,987,509.64
Total changes in net assets
-3,345,799.04
Total net assets at the beginning of the period
43,809,554.68
Total net assets at the end of the period
40,463,755.64
The accompanying notes are an integral part of these financial statements.
Page 235
UBAM - GLOBAL EMERGING EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
40,262,144.24
Securities portfolio at market value Cash at banks Deposits on futures and option contracts Interest receivable on bonds and other debt securities Receivable on issues of shares Dividends receivable Other receivables
Note 2
38,897,114.74 1,117,568.75 9.46 110.91 132.26 246,069.59 1,138.53
Liabilities
238,993.97
Bank liabilities Interest payable on bank liabilities and expenses payable
39,618.24 199,375.73
Net assets at the end of the period
40,023,150.27
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
Capitalisation shares
20,597.925
5,927.000
6,618.057
19,906.868
Distribution shares
37,520.454
1,585.000
8,448.993
30,656.461
79,043.246
8,196.000
19,314.257
67,924.989
185,553.428
604.299
22,855.450
163,302.277
2,631.000
11.000
0.000
2,642.000
4,967.563
0.000
460.000
4,507.563
300.000
0.000
0.000
300.000
Capitalisation shares
4,650.000
28,546.844
0.000
33,196.844
Distribution shares
4,357.248
180.000
700.008
3,837.240
20,145.000
0.000
2,950.000
17,195.000
950.000
0.000
475.000
475.000
12,221.535
0.000
1,063.765
11,157.770
A shares
A EUR shares
Capitalisation shares
AP shares
Capitalisation shares Distribution shares
AP EUR shares
Capitalisation shares
AP CHF shares
Capitalisation shares
I shares
IP shares
Capitalisation shares
IP EUR shares
Capitalisation shares
RP shares
Capitalisation shares
The accompanying notes are an integral part of these financial statements.
Page 236
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL EMERGING EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
A EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AP EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AP CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
40,023,150.27
40,270,004.80
42,519,727.27
USD
USD
USD
19,906.868 301.92
20,597.925 281.69
23,580.704 339.13
30,656.461 301.99
37,520.454 281.75
46,099.036 339.20
EUR
EUR
EUR
67,924.989 92.03
79,043.246 87.81
88,836.051 94.90
USD
USD
USD
163,302.277 68.93
185,553.428 64.35
-
2,642.000 63.15
2,631.000 58.96
-
EUR
EUR
EUR
4,507.563 62.15
4,967.563 59.23
-
CHF
CHF
CHF
300.000 67.32
300.000 64.46
-
USD
USD
USD
33,196.844 81.99
4,650.000 76.21
73,250.000 90.85
3,837.240 343.78
4,357.248 319.57
5,326.269 380.96
USD
USD
USD
17,195.000 72.22
20,145.000 67.25
-
The accompanying notes are an integral part of these financial statements.
Page 237
UBAM - GLOBAL EMERGING EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets IP EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
RP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
40,023,150.27
40,270,004.80
42,519,727.27
EUR
EUR
EUR
475.000 64.66
950.000 61.41
-
USD
USD
USD
-
-
10.000 100.00
USD
USD
USD
11,157.770 66.13
12,221.535 61.92
-
The accompanying notes are an integral part of these financial statements.
Page 238
UBAM - GLOBAL EMERGING EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Market value
% of total net assets
34,339,583.00
35,795,823.33
89.44
34,339,583.00
35,795,823.33
89.44
BRL BRL BRL BRL BRL
1,202,762.90 271,218.07 360,469.42 36,777.60 302,213.41 232,084.40
1,417,016.28 310,603.42 358,347.82 43,542.80 386,144.80 318,377.44
3.54 0.78 0.90 0.11 0.95 0.80
CLP
312,057.31 312,057.31
311,736.59 311,736.59
0.78 0.78
HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD HKD
5,810,212.59 533,552.72 278,088.27 506,742.04 1,287,931.23 347,527.22 271,089.77 356,070.72 432,332.14 473,241.73 393,529.67 377,392.15 552,714.93
5,723,469.71 488,084.82 311,834.76 458,374.67 1,190,581.81 323,064.52 216,263.18 326,524.20 447,646.32 519,384.30 443,897.91 289,595.65 708,217.57
14.29 1.22 0.78 1.15 2.96 0.81 0.54 0.82 1.12 1.30 1.11 0.72 1.76
INR INR
852,289.14 404,652.35 447,636.79
907,688.73 432,488.67 475,200.06
2.27 1.08 1.19
IDR IDR IDR IDR IDR IDR
2,299,067.50 513,792.13 327,738.78 386,497.72 297,344.97 393,645.51 380,048.39
2,547,466.64 572,678.88 304,356.66 410,060.53 332,680.17 577,307.07 350,383.33
6.36 1.43 0.76 1.02 0.83 1.44 0.88
KRW KRW KRW KRW KRW KRW KRW KRW KRW KRW KRW KRW KRW KRW KRW KRW
5,119,518.68 162,686.64 196,452.72 224,153.81 216,729.64 290,861.94 388,750.79 174,410.56 276,763.52 228,471.47 417,453.29 325,839.38 293,824.11 781,668.46 394,156.85 389,422.50 357,873.00
5,293,253.09 171,335.66 140,178.44 263,824.25 239,845.00 302,719.07 405,615.27 177,106.72 302,219.53 142,668.56 490,604.10 408,131.22 277,175.30 831,358.16 409,790.29 396,164.04 334,517.48
13.23 0.43 0.35 0.66 0.60 0.76 1.01 0.44 0.76 0.36 1.23 1.02 0.69 2.07 1.02 0.99 0.84
MYR MYR MYR MYR MYR
2,380,216.50 332,671.68 363,246.95 625,999.44 477,854.22 580,444.21
2,407,603.87 336,344.90 346,409.13 650,755.06 414,125.29 659,969.49
6.02 0.84 0.87 1.63 1.03 1.65
MXN MXN MXN MXN MXN
1,639,373.05 309,792.61 393.33 355,736.72 605,542.66 367,907.73
1,703,156.87 300,479.77 454.61 381,810.71 615,712.06 404,699.72
4.26 0.75 0.00 0.95 1.55 1.01
PLN
1,048,853.86 362,470.52
911,174.39 355,614.57
2.28 0.89
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
35,400 60,297 15,000 162,992 75,000
Brazilian Real
BB SEGURIDADE BRASKEM SA PREF SHS -ACYRELA COMMERCIAL PROPERTIES ITAUSA INVESTIMENTOS ITAU SA-PREF KROTON EDUCACIONAL SA
Chilean Peso
35,450 EMPRESAS COPEC SA 1,338,000 288,000 755,000 1,804,000 708,000 428,000 1,162,000 361,000 1,236,000 93,200 477,000 31,200
Hong Kong Dollar
AGRICULTURAL BANK OF CHINA -HBEIJING CAP. INTERNATIONAL AIRPORT -HCHINA CITIC BANK CORPORATION -HCHINA CONSTRUCTION BANK CORPORATION -HCHINA EVERBRIGHT BANK CO LTD CHONGQING RURAL -HCN JINMAO HOLDINGS CNOOC LTD -RCCOUNTRY GARDEN HOLDINGS SINOPHARM GROUP CO LTD SJM HOLDINGS LTD TENCENT HLDG
Indian Rupee
8,632 DR REDDY'S LABORATORIES LTD 87,062 ITC DEMATERIALISED 1,455,100 238,300 747,300 2,872,900 1,916,500 312,800 799 20,008 2,908 2,219 2,703 1,854 18,296 8,348 2,536 9,356 3,444 5,012 672 399 14,084 1,788
Indonesian Rupiah
BANK NEGARA INDONESIA INDOCEMENT TUNGGAL PRAKARSA INDOFOOD SUKSES MAKMUR TBK KALBE FARMA TELKOM INDONESIA -BUNITED TRACTORS
Korean Won
AMOREPACIFIC CORP PFD SHS NON.VTG BNK FINANCIAL GROUP INC COWAY HYOSUNG CORP HYUNDAI DEPARTMENT STORE SHS HYUNDAI MOBIS INDUSTRIAL BANK OF KOREA KANGWON LAND KEPCO PLANT SERVICE ENGINEERING CO LTD KOREA ELECTRIC POWER CORP KT & G CORP-SHS. LG CORP SAMSUNG ELECTRONICS CO LTD SAMSUNG ELECTRONICS CO LTD PFD SHS N/VTG SK HYNIX INC SK TELEKOM
Malaysian Ringgit
305,400 26,500 322,300 223,800 188,700
AMMB HOLDING BHD BRITISH AMERICAN TOBACCO (M) BHD MALAYAN BANKING BHD MISC TENAGA NASIONAL BHD
176,100 64 46,456 263,621 39,753
ALFA SAB DE CV -AARCA CONTINENT COCA COLA FEMSA -L- (KOFL) GMEXICO -BGRUPO AEROPORTUARIO DEL PACIFICO SAB-B-
Mexican Peso
New Polish Zloty
64,033 CYFROWY POLSAT SA
The accompanying notes are an integral part of these financial statements.
Page 239
Cost
UBAM - GLOBAL EMERGING EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
74,246 ENERGA 52,380 POWSZECHNY ZAKLAD UBEZPIECZEN 43,000 944,000 218,000 264,000 136,000 37,000 138,000 144,000 184,000 567,000 149,000
New Taiwan Dollar
CATCHER TECHNOLOGY CHINATRUST FINANCIAL HLDGS HON HAI PRECISION INDUSTRY CO LTD LITE-ON TECHNOLOGY CORP PEGATRON PHISON ELECTRONICS RADIANT OPTO-ELECTRONICS CORP RUENTEX INDUSTRIES LTD TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD TECO EL.MACHINERY ZHEN DING TEH
Philippine Peso
977,200 ALLIANCE GLOBAL GROUP 2,247,300 ENERGY DEVELOPMENT 12,120 PHILIPPINE LONG DISTANCE TEL. 10,320 2,737 109,640 314,556 37,149
Russian Ruble
BASHNEFT PREF SHS RUB MAGNIT JSC MOBILE TELESYSTEMS NOVOLIPETSK STEEL TATNEFT PREF.SHS
Singapore Dollar
748,600 THAI BEVERAGE PUBLIC CO LTD 30,117 27,763 48,344 138,078 78,869 86,080 91,954
South African Rand
HYPROP INVESTMENT LIMITED IMPERIAL HOLDINGS LTD LIBERTY HOLDINGS LIFE HEALTHCARE GROUP HOLDINGS LIMITED NETCARE LTD RMB HOLDINGS LTD SAPPI LTD
Thai Bath
284,700 PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD 113,900 SIAM COMMERCIAL BANK PUBLIC CO LTD 620,600 THAI UNION GRP
Turkish Lira
103,146 EREGLI DEMIR VE CELIK 50,304 TAV HAVALIMALARI HOLDING AS 205,822 TURKIYE IS BANKASI AS 41,200 31,000 12,200 8,127 20,273 17,481 16,261
US Dollar
AMERICA MOVIL SHS -L- ADR REPR.20 SHS BRF ADR REPR 1 SHS CERVECERIAS ADR REPR 2 SHS CHILE SP ADR.REPR.600 SER WHEN ISSUED ITAU ADR REPR 1500 SHS PHOSAGRO GDR REPR SHS REG S SOQUIMICH SPONSORED ADR REPR 1 -B- PREF
Pound Sterling
15,000 ISHARES III PLC MSCI GCC CTRY EX SAUDI
178,053.16 377,506.66
0.44 0.95
TWD TWD TWD TWD TWD TWD TWD TWD TWD TWD TWD
4,083,494.80 303,514.68 412,836.64 494,333.15 263,905.57 308,736.78 260,062.27 275,576.28 223,709.52 778,181.80 438,558.61 324,079.50
4,432,135.04 316,578.20 493,083.91 557,518.61 360,903.79 285,836.40 317,709.66 214,749.29 216,051.25 926,872.76 476,322.70 266,508.47
11.07 0.79 1.23 1.39 0.90 0.71 0.79 0.54 0.54 2.32 1.19 0.67
PHP PHP PHP
1,196,776.72 379,824.13 296,575.47 520,377.12
1,124,941.32 307,403.49 263,671.84 553,865.99
2.81 0.77 0.66 1.38
RUB RUB RUB RUB RUB
1,526,303.75 261,708.76 373,645.13 419,975.79 360,262.25 110,711.82
1,621,888.98 307,204.71 386,142.69 417,173.29 408,721.90 102,646.39
4.05 0.77 0.96 1.04 1.02 0.26
SGD
359,406.02 359,406.02
506,141.46 506,141.46
1.26 1.26
ZAR ZAR ZAR ZAR ZAR ZAR ZAR
2,037,148.23 188,683.83 235,792.05 411,923.37 360,005.09 161,075.22 289,517.93 390,150.74
2,219,679.71 267,115.07 283,374.29 399,428.38 341,306.08 167,916.51 330,625.05 429,914.33
5.55 0.67 0.71 1.00 0.85 0.42 0.83 1.07
THB THB THB
1,169,969.48 434,083.13 426,475.32 309,411.03
1,319,116.52 480,036.07 450,543.34 388,537.11
3.30 1.20 1.13 0.97
TRY TRY TRY
748,666.05 134,872.96 265,328.07 348,465.02
687,695.47 145,627.32 215,690.01 326,378.14
1.72 0.36 0.54 0.82
USD USD USD USD USD USD USD
2,553,466.42 502,767.72 450,445.50 271,301.46 497,690.95 265,523.65 265,297.77 300,439.37
2,661,658.66 505,112.00 431,830.00 284,748.00 521,265.78 258,886.21 257,844.75 401,971.92
6.65 1.26 1.08 0.71 1.31 0.65 0.64 1.00
3,064,651.13
3,101,291.41
7.75
3,064,651.13
3,101,291.41
7.75
EUR
2,523,549.60 2,523,549.60
2,581,041.16 2,581,041.16
6.45 6.45
GBP
541,101.53 541,101.53
520,250.25 520,250.25
1.30 1.30
37,404,234.13
38,897,114.74
97.19
1,077,950.51
2.69
48,085.02
0.12
40,023,150.27
100.00
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 240
% of total net assets
188,446.23 497,937.11
Investment funds (UCITS) Euro
Market value
PLN PLN
Open-ended investment funds
170,328 LYXOR ETF MSCI INDIA FCP PARTS A CAP/DIS
Cost
UBAM - GLOBAL EMERGING EQUITY
Geographical classification of investments (by domicile of the issuer) South Korea Taiwan China France Indonesia Malaysia South Africa Mexico Thailand Russia Brazil Chile Hong Kong Philippines Cayman Islands Poland India Turkey Ireland
% of net assets 13.23 9.69 8.57 6.45 6.36 6.02 5.55 5.52 5.27 4.69 4.62 4.45 3.96 2.81 2.43 2.28 2.27 1.72 1.30 97.19
Page 241
UBAM - GLOBAL EMERGING EQUITY
Industrial classification of investments % of net assets 14.93 8.18 7.75 6.85 5.73 5.05 5.03 4.39 4.07 3.98 3.56 3.45 2.93 2.93 2.90 2.05 1.89 1.76 1.65 1.64 1.48 1.14 1.07 0.90 0.76 0.76 0.36 -
Banks and credit institutions Electronics and semiconductors Investment funds Communications Electrical engineering and electronics Tobacco and alcoholic drinks Petroleum Holding and finance companies Transportation Utilities Insurance Pharmaceuticals and cosmetics Coal mining and steel industry Foods and non alcoholic drinks Real estate companies Agriculture and fishery Road vehicles Internet and Internet services Healthcare and social services Chemicals Hotels and restaurants Textiles and garments Paper and forest products Office supplies and computing Retail trade, department stores Building materials and trade Miscellaneous services Packaging industries
97.19
Page 242
UBAM - GLOBAL EMERGING EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
708,489.99
Dividends, net Interest on bank accounts Other income
Note 2
Expenses
702,753.30 1,880.68 3,856.01 521,536.90
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Performance fees Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5 Note 4
Note 2 Note 6, 7
Net investment income
272,121.97 40,908.98 9,352.84 20,287.52 27,723.63 412.90 3,233.18 5,950.62 96,987.59 38,984.47 1,202.56 4,370.64 186,953.09
Net realised gain/(loss) on: - securities portfolio - futures contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-509,426.95 -171,579.60 -325,773.77 -819,827.23
Net variation of the unrealised gain/(loss) on: - securities portfolio - futures contracts
Note 2 Note 2
Result of operations
3,684,765.64 -17,040.00 2,847,898.41
Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
4,496,084.12 520,139.81 -5,507,994.59 -2,602,982.28
Total changes in net assets
-246,854.53
Total net assets at the beginning of the period
40,270,004.80
Total net assets at the end of the period
40,023,150.27
The accompanying notes are an integral part of these financial statements.
Page 243
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH*
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
14,425,033.08
Securities portfolio at market value Cash at banks Interest receivable on bonds and other debt securities Dividends receivable
Note 2
13,935,465.57 478,401.24 0.53 11,165.74
Liabilities
62,368.71
Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
Note 2, 8
5,672.10 56,696.61
Net assets at the end of the period
14,362,664.37
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
A EUR shares
Capitalisation shares
AP shares
Capitalisation shares
APH EUR shares
Capitalisation shares
I shares
Capitalisation shares
IP shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
93,082.418
3,135.000
29,215.739
67,001.679
11,980.000
0.000
5,392.000
6,588.000
42,246.000
110.000
10,223.000
32,133.000
6,322.000
0.000
250.000
6,072.000
41,837.000
30.000
15,900.000
25,967.000
33,740.000
0.000
16,542.000
17,198.000
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 244
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH* Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
A EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AP shares Capitalisation shares Number of shares outstanding Net asset value per share
APH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
14,362,664.37
22,666,382.38
-
USD
USD
USD
67,001.679 91.26
93,082.418 97.55
-
EUR
EUR
EUR
6,588.000 93.59
11,980.000 102.31
-
USD
USD
USD
32,133.000 91.87
42,246.000 97.97
-
EUR
EUR
EUR
6,072.000 92.22
6,322.000 99.23
-
USD
USD
USD
25,967.000 92.23
41,837.000 98.23
-
USD
USD
USD
17,198.000 92.69
33,740.000 98.54
-
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 245
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Market value
% of total net assets
13,675,522.84
13,607,115.19
94.74
13,675,522.84
13,607,115.19
94.74
DKK DKK
486,023.34 165,745.90 320,277.44
466,905.43 138,632.40 328,273.03
3.25 0.97 2.28
EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR
3,342,903.11 305,497.26 311,747.36 174,955.95 262,206.68 94,575.16 365,498.05 349,534.34 354,242.43 252,795.88 342,750.73 284,937.33 244,161.94
3,094,216.20 255,137.00 321,262.74 140,498.62 190,563.03 79,276.39 386,168.61 334,052.78 358,472.46 207,918.10 291,760.87 282,121.82 246,983.78
21.54 1.78 2.24 0.98 1.33 0.55 2.68 2.33 2.49 1.45 2.03 1.96 1.72
HKD HKD
763,210.28 445,312.99 317,897.29
912,556.22 328,117.40 584,438.82
6.35 2.28 4.07
NOK NOK
318,736.20 242,239.57 76,496.63
246,792.09 175,905.15 70,886.94
1.72 1.23 0.49
GBP GBP GBP
622,460.77 187,244.98 134,307.96 300,907.83
524,540.43 151,042.41 84,712.41 288,785.61
3.65 1.05 0.59 2.01
CHF CHF
369,199.14 186,936.73 182,262.41
413,963.09 198,314.28 215,648.81
2.88 1.38 1.50
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
7,772,990.00 275,628.70 501,600.71 344,863.64 314,289.40 362,156.07 312,661.02 339,959.70 560,300.23 227,440.44 142,042.10 114,230.91 292,613.99 351,204.90 451,395.60 241,052.40 329,928.45 570,192.12 477,771.49 336,611.95 297,820.53 410,259.40 291,949.64 227,016.61
7,948,141.73 180,043.92 586,900.80 451,556.22 351,283.68 432,834.57 194,423.28 345,069.27 467,013.05 262,489.80 154,066.88 124,466.58 318,155.52 400,946.60 476,345.10 230,820.46 423,378.02 558,652.64 350,849.36 360,071.82 342,051.67 448,357.65 253,353.80 235,011.04
55.35 1.25 4.10 3.14 2.45 3.01 1.35 2.40 3.25 1.83 1.07 0.87 2.22 2.79 3.32 1.61 2.95 3.89 2.44 2.51 2.38 3.12 1.76 1.64
313,339.73
328,350.38
2.29
313,339.73
328,350.38
2.29
313,339.73 313,339.73
328,350.38 328,350.38
2.29 2.29
13,988,862.57
13,935,465.57
97.03
478,401.24
3.33
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
Danish Krone
5,293 DANSKE BANK 6,139 NOVO NORDISK 1,797 2,459 747 3,205 4,273 3,173 2,861 1,876 7,361 6,697 2,766 5,634
Euro
ALLIANZ SE REG SHS ANHEUSER-BUSCH INBEV NV CONTINENTAL AG DAIMLER AG REG SHS EDAG ENGINEERING GRP HENKEL AG & CO KGAA INGENICO GROUP L'OREAL SA NORDEX AG NACH KAPITALHERABSETZUNG PROSIEBENSAT.1 NAMEN-AKT SIEMENS AG REG SHS WIRECARD AG
Hong Kong Dollar
376,000 PAX GLOBAL TECH 167,000 SUNNY OPTI TECH SHS 14,816 DNB 6,244 XXL
Norwegian Krone
Pound Sterling
27,558 BT GROUP PLC 35,264 ITV PLC 39,457 3I GROUP PLC
Swiss Franc
525 GEBERIT AG 343 GURIT HEBERLEIN 1,542 848 631 3,216 10,017 804 3,241 4,735 1,587 2,768 1,142 2,784 3,140 3,927 6,274 1,706 6,344 8,114 3,357 4,429 6,045 2,590 1,342
US Dollar
ALEXION PHARMACEUTICALS ALPHABET -CAMAZON.COM INC AON AT AND T INC BIOGEN IDEC INC CARTER S INC CELGENE CORP CONSTELLATION BRANDS INC -ACYRUSONE INC DIGITAL REALTY TRUST INC FACEBOOK -AHOME DEPOT INC JOHNSON AND JOHNSON KROGER CO LOCKHEED MARTIN CORP MASTERCARD INC -AMYLAN NV S&P GLOBAL TJX COS INC VISA INC -AWALT DISNEY CO 3M CO
Open-ended investment funds Investment funds (UCITS) Euro
10,053 DB X-TRACKERS MSCI BRA TRN IDX -1C- CAP
EUR
Total investments in securities Cash at banks/(bank liabilities) * Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 246
Cost
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Other net assets/(liabilities) Total
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 247
Cost
Market value
% of total net assets
-51,202.44
-0.36
14,362,664.37
100.00
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH*
Geographical classification of investments (by domicile of the issuer) United States of America Germany United Kingdom France Cayman Islands Switzerland Denmark The Netherlands Luxembourg Bermuda Belgium Norway
% of net assets 50.46 13.93 6.10 4.82 4.07 3.43 3.25 2.44 2.29 2.28 2.24 1.72 97.03
Industrial classification of investments % of net assets 10.41 8.09 8.04 6.85 6.30 6.09 5.85 4.65 4.61 4.32 4.23 4.07 4.07 3.12 2.95 2.29 1.96 1.94 1.88 1.50 1.45 1.38 0.98
Retail trade, department stores Pharmaceuticals and cosmetics Internet and Internet services Holding and finance companies Graphic art and publishing Banks and credit institutions Biotechnology Communications Electronics and semiconductors Miscellaneous consumer goods Insurance Photographics and optics Tobacco and alcoholic drinks Miscellaneous services Aerospace industry Investment funds Electrical engineering and electronics Real estate companies Road vehicles Chemicals Utilities Building materials and trade Tires and rubber
97.03 * Please refer to Note 18
Page 248
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH* Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
150,448.90
Dividends, net Interest on bank accounts
Note 2
Expenses
150,411.66 37.24 185,888.69
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
102,750.69 17,436.91 2,990.78 8,995.78 159.16 330.58 2,911.19 35,613.00 13,849.01 851.59 -35,439.79
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-1,239,955.32 38,716.41 -139,663.56 -1,376,342.26
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-66,511.66 -22,110.94 -1,464,964.86
Subscriptions capitalisation shares Redemptions capitalisation shares
296,369.15 -7,135,122.30
Total changes in net assets
-8,303,718.01
Total net assets at the beginning of the period
22,666,382.38
Total net assets at the end of the period
14,362,664.37
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 249
UBAM - GLOBAL EQUITY INCOME
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
2,496,592.25
Securities portfolio at market value Cash at banks Dividends receivable Unrealised gain on forward foreign exchange contracts
Note 2
2,301,414.77 163,699.82 7,530.76 23,946.90
Note 2, 8
Liabilities
11,233.72
Interest payable on bank liabilities and expenses payable
11,233.72
Net assets at the end of the period
2,485,358.53
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
700.000
0.000
0.000
700.000
2,795.000
0.000
0.000
2,795.000
1,871.285
350.000
400.000
1,821.285
Capitalisation shares
8,700.000
0.000
0.000
8,700.000
Distribution shares
1,612.000
0.000
1,612.000
0.000
13,908.000
950.000
3,600.000
11,258.000
A shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares
A USD shares
AH USD shares
Capitalisation shares
The accompanying notes are an integral part of these financial statements.
Page 250
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - GLOBAL EQUITY INCOME Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
A USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
IH SEK shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
2,485,358.53
2,859,503.13
1,776,681.21
EUR
EUR
EUR
700.000 112.37
700.000 109.69
700.000 99.98
2,795.000 113.79 0.65
2,795.000 111.74 -
3,235.000 101.84 -
CHF
CHF
CHF
1,821.285 102.74
1,871.285 100.62
-
USD
USD
USD
8,700.000 98.26
8,700.000 93.79
4,115.000 95.23
-
1,612.000 90.80 -
1,700.000 92.19 -
USD
USD
USD
11,258.000 113.11
13,908.000 110.23
10,895.000 101.48
SEK
SEK
SEK
-
-
92.000 1,046.63
The accompanying notes are an integral part of these financial statements.
Page 251
UBAM - GLOBAL EQUITY INCOME Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Cost
Market value
% of total net assets
2,126,895.07
2,301,414.77
92.60
2,126,895.07
2,301,414.77
92.60
AUD
50,870.28 50,870.28
55,626.09 55,626.09
2.24 2.24
EUR EUR EUR EUR EUR EUR
547,779.41 92,366.04 83,935.06 88,657.28 63,088.74 91,196.87 128,535.42
535,727.04 77,191.20 88,958.40 91,144.09 62,386.34 96,925.53 119,121.48
21.56 3.11 3.58 3.67 2.51 3.90 4.79
GBP GBP
180,476.04 106,120.98 74,355.06
205,524.59 127,215.80 78,308.79
8.27 5.12 3.15
CHF CHF CHF CHF CHF CHF
519,895.20 73,265.47 104,167.52 90,754.82 95,146.07 76,704.31 79,857.01
520,642.94 82,802.60 111,721.66 81,979.16 94,413.66 76,582.74 73,143.12
20.95 3.33 4.50 3.30 3.80 3.08 2.94
USD USD USD USD USD USD USD USD USD USD
827,874.14 88,561.23 102,864.98 63,320.83 88,538.26 80,851.10 77,710.72 93,717.76 76,227.07 93,364.34 62,717.85
983,894.11 128,863.55 125,746.37 82,740.00 97,994.97 101,358.26 92,371.21 104,991.13 75,140.10 100,658.86 74,029.66
39.58 5.18 5.06 3.33 3.94 4.08 3.72 4.22 3.02 4.05 2.98
2,126,895.07
2,301,414.77
92.60
163,699.82
6.59
20,243.94
0.81
2,485,358.53
100.00
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
Australian Dollar
14,927 TELSTRA CORP 604 2,586 3,338 4,257 1,209 2,746
Euro
ALLIANZ SE REG SHS ELISA CORPORATION -AENAGAS ORANGE RED ELECTRICA CORPORACION SA TOTAL SA
Pound Sterling
2,183 BRITISH AMERICAN TOBACCO PLC 4,056 GLAXOSMITHKLINE PLC
Swiss Franc
1,315 1,609 1,107 399 978 164
GE MONEY BANK AG NESTLE SA REG SHS NOVARTIS AG REG SHS ROCHE HOLDING AG GENUSSSCHEIN SWISS RE NAMEN AKT SWISSCOM SHS NOM
2,076 3,233 3,830 1,269 3,577 846 470 1,449 3,176 1,525
ALTRIA GROUP AT AND T INC CENTERPOINT ENERGY DUKE ENERGY CORP GENERAL ELECTRIC CO JOHNSON AND JOHNSON LOCKHEED MARTIN CORP MERCK AND CO PFIZER INC REYNOLDS AMERICAN
US Dollar
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 252
UBAM - GLOBAL EQUITY INCOME
Geographical classification of investments (by domicile of the issuer) United States of America Switzerland United Kingdom Spain France Finland Germany Australia
% of net assets 39.58 20.95 8.27 7.57 7.30 3.58 3.11 2.24 92.60
Industrial classification of investments % of net assets 21.04 16.33 13.28 10.90 6.19 4.79 4.50 4.22 4.08 3.94 3.33
Pharmaceuticals and cosmetics Communications Tobacco and alcoholic drinks Utilities Insurance Petroleum Foods and non alcoholic drinks Aerospace industry Electrical engineering and electronics Holding and finance companies Banks and credit institutions
92.60
Page 253
UBAM - GLOBAL EQUITY INCOME Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
56,600.92
Dividends, net Interest on bank accounts
Note 2
Expenses
56,584.34 16.58 39,562.13
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
18,688.80 2,532.73 620.23 1,276.58 23.81 84.76 2,163.67 9,270.53 4,699.23 201.79 17,038.79
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-31,330.90 -40,892.10 -1,290.16 -56,474.37
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
51,050.87 15,081.11 9,657.61
Dividends paid Subscriptions capitalisation shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-1,816.75 120,515.37 -372,298.00 -130,202.83 -374,144.60
Total net assets at the beginning of the period
2,859,503.13
Total net assets at the end of the period
2,485,358.53
The accompanying notes are an integral part of these financial statements.
Page 254
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in JPY
Assets
5,337,994,676
Securities portfolio at market value Cash at banks Dividends receivable
Note 2
5,254,053,000 76,481,266 7,460,410
Liabilities
115,274,072
Bank liabilities Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
8,630,948 89,054,296 17,588,828
Note 2, 8
Net assets at the end of the period
5,222,720,604
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
AP shares
Capitalisation shares
APH EUR shares
Capitalisation shares
APH CHF shares
Capitalisation shares
APH USD shares
Capitalisation shares
APH GBP shares
Capitalisation shares
IP shares
Capitalisation shares
IPH EUR shares
Capitalisation shares
IPH USD shares
Capitalisation shares
UP shares
Capitalisation shares
R shares
Capitalisation shares
RH EUR shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
13,059.000
682.000
5,475.000
8,266.000
13,526.718
3,600.000
10,733.000
6,393.718
22,536.000
1,000.000
3,820.000
19,716.000
12,940.284
4,972.000
9,351.399
8,560.885
4,234.301
0.000
195.244
4,039.057
236,580.000
0.000
9,580.000
227,000.000
127,329.801
8,647.305
31,964.370
104,012.736
47,172.649
6,397.514
14,721.220
38,848.943
2,484.000
0.000
2,134.000
350.000
70.129
9.813
4.090
75.852
0.000
24.750
0.000
24.750
The accompanying notes are an integral part of these financial statements.
Page 255
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AP shares Capitalisation shares Number of shares outstanding Net asset value per share
APH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
APH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
APH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
APH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share
IPH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IPH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
UP shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
JPY
JPY
JPY
5,222,720,604
7,645,369,059
8,618,991,340
JPY
JPY
JPY
8,266.000 11,339
13,059.000 13,346
17,013.000 11,929
EUR
EUR
EUR
6,393.718 95.56
13,526.718 113.97
19,026.605 102.41
CHF
CHF
CHF
19,716.000 122.57
22,536.000 146.23
23,220.000 133.38
USD
USD
USD
8,560.885 135.72
12,940.284 161.20
13,409.094 145.02
GBP
GBP
GBP
4,039.057 97.68
4,234.301 116.96
511.890 106.56
JPY
JPY
JPY
227,000.000 12,036
236,580.000 14,114
291,433.140 12,593
EUR
EUR
EUR
104,012.736 119.52
127,329.801 142.03
134,090.700 126.84
USD
USD
USD
38,848.943 120.04
47,172.649 142.05
90,733.000 126.65
JPY
JPY
JPY
350.000 8,778
2,484.000 10,302
-
JPY
JPY
JPY
75.852 10,479
70.129 12,394
70.000 11,150
The accompanying notes are an integral part of these financial statements.
Page 256
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets RH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
JPY
JPY
JPY
5,222,720,604
7,645,369,059
8,618,991,340
EUR
EUR
EUR
24.750 91.87
-
10.000 128.92
The accompanying notes are an integral part of these financial statements.
Page 257
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in JPY Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
120,000 3,000 145,000 550 675,000 75,000 270,000 250,000 200,000 450,000 35,000 150,000 110,000 3,150 300,000 145,000 105,000 225,000 500,000 450,000 1,350,000
Japanese Yen
COMSYS HOLDINGS CORP HEIWA REAL ESTATE REIT INC INPEX KENEDIX RETAIL REIT CORP KUREHA CORP KYOCERA CORP KYOWA EXEO CORP MITSUBISHI CORP MITSUI AND CO LTD NIPPON SYNTH CHEM NIPPON TELEGRAPH AND TELEPHONE CORP NIPPON TELEVISION HOLDINGS NTT DOCOMO INC RE-PLUS RESIDENTIAL - SHS RICOH CO LTD SEKISUI HOUSE LTD SHIMACHU CO LTD SUMITOMO ELECTRIC INDUSTRIES LTD SUMITOMO WAREHOUSE TOSHIBA MACHINE CO LTD UBE INDUSTRIES LTD
JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 258
Market value
% of total net assets
5,590,616,081
5,254,053,000
100.60
5,590,616,081
5,254,053,000
100.60
5,590,616,081 198,467,014 239,048,274 198,167,299 147,817,303 296,138,325 360,378,805 330,532,869 471,680,102 301,583,290 361,559,738 66,136,076 256,544,910 138,195,233 257,684,899 383,868,159 185,438,624 262,627,867 377,171,932 282,390,354 225,339,255 249,845,753
5,254,053,000 198,480,000 249,300,000 115,043,000 152,185,000 241,650,000 363,150,000 343,980,000 447,000,000 242,700,000 233,550,000 168,000,000 252,000,000 304,315,000 265,230,000 265,200,000 258,027,500 233,730,000 301,612,500 253,500,000 138,600,000 226,800,000
100.60 3.80 4.77 2.20 2.91 4.63 6.95 6.59 8.55 4.65 4.47 3.22 4.83 5.83 5.08 5.08 4.94 4.48 5.78 4.85 2.65 4.34
5,590,616,081
5,254,053,000
100.60
67,850,318
1.30
-99,182,714
-1.90
5,222,720,604
100.00
Cost
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY
Geographical classification of investments (by domicile of the issuer) Japan
% of net assets 100.60 100.60
Industrial classification of investments % of net assets 13.88 13.44 13.20 12.76 12.03 11.53 5.78 4.85 4.48 3.80 2.65 2.20
Communications Chemicals Miscellaneous trading companies Real estate companies Electronics and semiconductors Building materials and trade Electrical engineering and electronics Transportation Retail trade, department stores Holding and finance companies Machine and apparatus construction Petroleum
100.60
Page 259
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in JPY
Income
81,636,438
Dividends, net Interest on bank accounts
Note 2
Expenses
81,624,867 11,571 57,140,106
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
33,448,546 6,301,215 422,506 3,223,507 60,371 158,946 356,654 11,213,232 1,325,571 33,986 595,572 24,496,332
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
14,088,574 -432,379,526 4,354,623 -389,439,997
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-1,111,221,977 -24,702,842 -1,525,364,816
Subscriptions capitalisation shares Redemptions capitalisation shares
386,679,793 -1,283,963,432
Total changes in net assets
-2,422,648,455
Total net assets at the beginning of the period
7,645,369,059
Total net assets at the end of the period
5,222,720,604
The accompanying notes are an integral part of these financial statements.
Page 260
UBAM - AJO US EQUITY VALUE*
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
400,486,467.91
Securities portfolio at market value Cash at banks Receivable on sales of securities Receivable on issues of shares Dividends receivable
Note 2
394,433,512.05 4,886,120.89 646,064.46 242,396.41 278,374.10
Liabilities
2,035,096.56
Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
189,175.61 501,571.02 1,344,349.93
Note 2, 8
Net assets at the end of the period
398,451,371.35
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares
AH CHF shares
Capitalisation shares
I shares
Capitalisation shares Distribution shares
IH EUR shares
Capitalisation shares
IH GBP shares
Distribution shares
U shares
Capitalisation shares Distribution shares
UH GBP shares
Capitalisation shares
R shares
Capitalisation shares
RH EUR shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
231,573.481
114,162.399
67,024.272
278,711.608
2,064.000
5,604.000
341.000
7,327.000
7,509.795
4,686.000
5,850.511
6,345.284
991.000
166.000
431.000
726.000
144,684.041
21,811.417
47,493.863
119,001.595
0.000
36,303.000
0.000
36,303.000
19,811.438
5,706.851
1,292.565
24,225.724
122.000
300.000
62.000
360.000
3,912.528
553.392
0.000
4,465.920
0.000
70,101.000
5,669.000
64,432.000
0.000
765.000
0.000
765.000
2,114.047
20.810
350.077
1,784.780
97.642
1,000.000
0.000
1,097.642
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 261
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - AJO US EQUITY VALUE* Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Distribution shares Number of shares outstanding Net asset value per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
UH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
398,451,371.35
388,341,356.50
1,187,368,732.50
USD
USD
USD
278,711.608 875.16
231,573.481 933.33
406,768.354 1,043.33
7,327.000 874.98
2,064.000 933.20
3,099.000 1,043.23
EUR
EUR
EUR
6,345.284 568.03
7,509.795 610.07
18,020.805 687.52
CHF
CHF
CHF
726.000 819.60
991.000 881.67
1,715.000 991.69
USD
USD
USD
119,001.595 959.70
144,684.041 1,019.69
602,964.437 1,131.52
36,303.000 99.51
-
-
EUR
EUR
EUR
24,225.724 637.64
19,811.438 682.28
59,692.808 763.29
GBP
GBP
GBP
360.000 472.39
122.000 505.81
352.000 562.45
USD
USD
USD
4,465.920 85.97
3,912.528 91.46
3,912.528 101.73
64,432.000 97.97
-
-
GBP
GBP
GBP
765.000 96.89
-
-
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 262
UBAM - AJO US EQUITY VALUE* Key figures relating to the last 3 years Period/Year ended as at:
Total net assets R shares Capitalisation shares Number of shares outstanding Net asset value per share
RH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
398,451,371.35
388,341,356.50
1,187,368,732.50
USD
USD
USD
1,784.780 774.62
2,114.047 830.21
5,169.439 937.40
EUR
EUR
EUR
1,097.642 101.01
97.642 109.03
553.073 124.05
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 263
UBAM - AJO US EQUITY VALUE* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
321,036 63,677 90,453 244,419 60,201 88,920 138,645 24,570 34,119 8,990 62,443 172,501 34,694 790,971 44,859 13,545 19,318 133,347 36,652 98,604 101,217 7,239 21,829 234,816 43,062 24,200 29,398 128,338 111,965 22,760 32,577 16,954 16,542 195,575 80,211 419,135 71,310 15,040 26,597 100,072 11,513 32,189 91,307 53,403 21,270 83,039 303,044 58,242 115,042 16,268 29,017 77,132 14,694 43,447 158,133 15,293 11,686 19,333 160,488 59,781 139,483 239,841
US Dollar
AES CORP ALASKA AIR GROUP INC ALLSTATE CORP ALLY FINANCIAL INC AMERICAN AIRLINES AMERICAN ELECTRIC POWER CO INC AMERICAN INTERNATIONAL GROUP INC AMGEN INC ASPEN TECHNOLOGY ASSURANT INC ASSURED GUARANTY LTD AT AND T INC AXIS CAPITAL HOLDINGS LTD BANK OF AMERICA CORP BED BATH AND BEYOND INC BEST BUY CO BIG LOTS INC CA INC CAPITAL ONE FINANCIAL CORP CBL AND ASSOCIATES PROP CBRE GROUP CELANESE CORP-ACHEVRON CORP CITIGROUP CITRIX SYSTEMS COOPER TIRE AND RUBBER DANA HOLDING DEAN FOODS CO DELTA AIR LINES DIAMOND OFFSHORE DRILLING DOMTAR CORP DR PEPPER SNAPPLE GROUP DRIL-QUIP EBAY EDISON INTERNATIONAL ENSCO -AENTERGY CORP EVEREST REINSURANCE GROUP EXELON CORP EXXON MOBIL CORP FEDEX CORP FLEXTRONICS INTERNATIONAL LTD FMC TECHNOLOGIES INC GARMING AND LEISURE PROPERTIES GENERAL DYNAMICS CORP GENERAL MOTORS CO GENWORTH FINANCIAL INC CLASS-A GILEAD SCIENCES INC GOODYEAR TIRE RUBBER CO GREAT PLAINS ENERGY INC HARTFORD FINANCIAL SERVICES GROUP INC HAWAIIAN HOLDINGS HELMERICH PAINE HERBALIFE LTD HOST HOTELS & RESORTS - SHS HUNTINGTON INGALLS INDUSTRIESINC IAC/INTERACTIVE CORP (WHEN ISSUED) INGREDION INTEL CORP INTERNATIONAL PAPER CO JOHNSON AND JOHNSON JPMORGAN CHASE CO
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 264
Market value
% of total net assets
392,162,783.10
394,433,512.05
98.99
392,162,783.10
394,433,512.05
98.99
392,162,783.10 3,590,171.41 4,267,333.55 6,005,685.19 4,357,713.53 2,360,161.87 5,715,040.69 7,384,640.18 3,543,316.65 1,199,795.08 638,305.05 1,617,397.73 6,508,990.99 1,902,217.09 10,852,796.87 2,220,473.37 423,407.22 1,012,636.50 4,267,833.57 2,558,040.03 1,203,338.42 2,801,375.68 517,240.05 2,218,854.30 12,021,952.91 3,432,454.33 893,001.37 400,496.39 2,519,272.07 3,521,976.03 576,306.63 1,202,604.81 1,520,829.13 991,993.72 4,574,829.84 5,632,203.99 4,690,212.18 5,480,108.27 2,921,138.70 913,907.82 8,671,813.72 1,699,613.29 373,196.21 2,456,894.27 1,755,893.71 2,854,962.55 2,609,456.66 854,181.59 5,251,637.13 3,781,500.51 497,501.47 1,313,270.19 3,588,198.71 908,290.51 2,603,290.99 2,593,825.91 2,075,982.18 547,721.94 2,045,196.82 5,085,887.32 2,389,625.78 14,785,473.96 12,880,951.55
394,433,512.05 4,006,529.28 3,711,732.33 6,327,187.35 4,172,232.33 1,704,290.31 6,232,402.80 7,332,934.05 3,738,325.50 1,372,948.56 775,926.90 1,584,178.91 7,453,768.21 1,908,170.00 10,496,185.17 1,938,805.98 414,477.00 968,024.98 4,377,782.01 2,327,768.52 918,003.24 2,680,226.16 473,792.55 2,288,334.07 9,953,850.24 3,448,835.58 721,644.00 310,442.88 2,321,634.42 4,078,884.95 553,750.80 1,140,520.77 1,638,265.02 966,549.06 4,578,410.75 6,229,988.37 4,069,800.85 5,801,068.50 2,747,356.80 967,066.92 9,380,749.28 1,747,443.14 379,830.20 2,435,157.69 1,841,335.44 2,961,634.80 2,350,003.70 781,853.52 4,858,547.64 2,951,977.72 494,547.20 1,287,774.46 2,927,930.72 986,408.22 2,542,952.91 2,563,335.93 2,569,682.79 657,921.80 2,501,883.53 5,264,006.40 2,533,518.78 16,919,287.90 14,903,719.74
98.99 1.01 0.93 1.59 1.05 0.43 1.56 1.84 0.94 0.34 0.19 0.40 1.87 0.48 2.64 0.49 0.10 0.24 1.10 0.58 0.23 0.67 0.12 0.57 2.51 0.87 0.18 0.08 0.58 1.02 0.14 0.29 0.41 0.24 1.15 1.56 1.02 1.46 0.69 0.24 2.35 0.44 0.10 0.61 0.46 0.74 0.59 0.20 1.22 0.74 0.12 0.32 0.73 0.25 0.64 0.64 0.64 0.17 0.63 1.32 0.64 4.26 3.75
Cost
UBAM - AJO US EQUITY VALUE* Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
34,406 3,403 57,142 57,183 42,971 45,033 24,458 104,204 101,979 41,620 227,772 24,294 262,985 23,328 59,029 27,780 632 151,763 83,927 16,864 53,521 384,532 60,197 18,317 27,896 82,237 58,645 21,211 321,345 7,765 32,623 100,250 226,948 31,929 109,894 66,336 35,226 143,774 256,480 88,563 21,392 94,173 24,823 62,882 87,862 56,603 83,108 99,319 43,076 88,066 109,761 57,774 152,717 165,446 81,775
Currency
LEAR LIGAND PHARMACEUTICALS INC LINCOLN NATIONAL CORP LYONDELLBASELL -AMACK CALI REALTY MARATHON PETROLEUM CORP MERCK AND CO MICHAEL KORS HOLDINGS LTD MICROSOFT CORP MURPHY OIL CORP NABORS INDUSTRIES LTD NISOURCE NOBLE CORPORATION PLC NORTHROP GRUMMAN CORP NRG ENERGY WHEN ISSUED NU SKIN ENTERPRISES NVR INC OCEANEERING INTERNATIONAL INC OIL STATES INTERNATIONAL OWENS CORNING SHS PEPSICO INC PFIZER INC PHILIP MORRIS INTERNATIONAL INC PILGRIMS PRIDE CORP PRUDENTIAL FINANCIAL INC PUBLIC SERVICE ENTERPRISE GROUP INC QUANTA SERVICES INC QUEST DIAGNOSTICS REGIONS FINANCIAL CORP REINSURANCE GR AMER RELIANCE STEEL ALUMINIUM CO RLJ LODGING TRUST ( BENEF INTEREST) ROWAN COMPANIES CLASS A SANDERSON FARMS SOUTHWEST AIRLINES CO SPIRIT AEROSYSTEMS HOLDINGS INC -ASTEEL DYNAMICS SUNTRUST BANKS INC SYMANTEC CORP SYSCO CORP T ROWE PRICE GROUP INC TAKE TWO INTERACTIVE SOFTWARE INC TAUBMAN CENTERS TESORO CORP TRANSOCEAN LTD TRAVELERS COS INC/THE TYSON FOODS INC -AUNITED CONTINENTAL HOLDINGS INC UNITED THERAPEUTICS CORP UNUM SHS VALERO ENERGY VERISIGN INC VERIZON COMMUNICATIONS INC VOYA FINANCIAL INC XEROX CORP
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 265
Market value
% of total net assets
3,826,890.90 334,345.96 2,330,932.56 5,544,992.80 973,371.41 1,711,133.98 1,375,044.59 5,525,236.14 4,844,770.88 1,010,288.90 2,025,345.08 553,553.30 2,914,958.96 4,483,714.03 795,300.54 1,026,660.74 1,064,286.33 4,873,239.31 2,565,077.23 776,200.59 5,407,274.31 11,302,828.76 5,914,811.31 458,871.99 2,044,152.84 3,683,428.52 1,375,930.50 1,526,499.94 2,998,202.61 743,291.69 2,324,614.03 2,201,157.49 3,736,294.09 2,867,734.60 4,856,891.62 3,062,458.18 878,438.24 5,324,503.81 4,718,284.48 4,400,489.94 1,531,890.15 3,328,131.78 1,726,752.58 5,502,695.18 957,776.38 6,507,259.57 5,377,916.42 4,644,109.85 5,101,819.04 2,816,751.09 7,040,168.88 5,152,437.26 8,020,359.07 5,123,548.77 865,243.72
3,501,154.56 405,875.81 2,215,395.34 4,255,558.86 1,160,217.00 1,709,452.68 1,409,025.38 5,156,013.92 5,218,265.43 1,321,435.00 2,289,108.60 644,276.88 2,166,996.40 5,185,347.84 884,844.71 1,283,158.20 1,125,174.88 4,531,643.18 2,759,519.76 868,833.28 5,670,014.74 13,539,371.72 6,123,238.84 466,717.16 1,990,100.64 3,833,066.57 1,355,872.40 1,726,787.51 2,734,645.95 753,127.35 2,508,708.70 2,150,362.50 4,007,901.68 2,766,328.56 4,308,943.74 2,852,448.00 863,037.00 5,906,235.92 5,268,099.20 4,493,686.62 1,560,974.24 3,571,040.16 1,841,866.60 4,711,119.44 1,044,679.18 6,738,021.12 5,550,783.32 4,076,051.76 4,562,609.92 2,799,618.14 5,597,811.00 4,995,140.04 8,527,717.28 4,096,442.96 776,044.75
0.88 0.10 0.56 1.07 0.29 0.43 0.35 1.29 1.31 0.33 0.57 0.16 0.54 1.30 0.22 0.32 0.28 1.14 0.69 0.22 1.42 3.41 1.54 0.12 0.50 0.96 0.34 0.43 0.69 0.19 0.63 0.54 1.01 0.69 1.08 0.72 0.22 1.48 1.32 1.13 0.39 0.90 0.46 1.18 0.26 1.69 1.39 1.02 1.15 0.70 1.40 1.25 2.14 1.03 0.19
392,162,783.10
394,433,512.05
98.99
4,886,120.89
1.23
-868,261.59
-0.22
398,451,371.35
100.00
Cost
UBAM - AJO US EQUITY VALUE*
Geographical classification of investments (by domicile of the issuer) United States of America United Kingdom Bermuda British Virgin Islands The Netherlands Cayman Islands Switzerland Singapore
% of net assets 90.92 2.57 2.14 1.29 1.07 0.64 0.26 0.10 98.99
Industrial classification of investments % of net assets 12.68 11.58 9.15 8.87 7.17 7.09 4.43 4.18 4.02 3.47 3.31 3.29 3.27 2.76 1.88 1.85 1.54 1.47 1.19 1.13 0.93 0.92 0.81 0.76 0.64 0.50 0.10
Banks and credit institutions Petroleum Insurance Pharmaceuticals and cosmetics Utilities Internet and Internet services Foods and non alcoholic drinks Communications Holding and finance companies Transportation Biotechnology Real estate companies Retail trade, department stores Aerospace industry Machine and apparatus construction Electronics and semiconductors Tobacco and alcoholic drinks Road vehicles Chemicals Miscellaneous trading companies Paper and forest products Tires and rubber Agriculture and fishery Coal mining and steel industry Healthcare and social services Building materials and trade Electrical engineering and electronics
98.99 * Please refer to Note 18
Page 266
UBAM - AJO US EQUITY VALUE* Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
2,777,563.94
Dividends, net Interest on bank accounts
Note 2
Expenses
2,777,521.41 42.53 4,165,421.15
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
2,081,408.29 372,327.70 72,516.60 184,254.79 4,084.19 1,312.97 7,775.33 1,182,120.39 236,073.90 2,299.82 21,247.17 -1,387,857.21
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
8,361,556.79 443,012.99 -7,570.69 7,409,141.88
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-35,331,809.30 -338,073.14 -28,260,740.56
Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
130,245,245.94 15,800,661.83 -106,779,824.67 -895,327.69
Total changes in net assets
10,110,014.85
Total net assets at the beginning of the period
388,341,356.50
Total net assets at the end of the period
398,451,371.35
* Please refer to Note 18 The accompanying notes are an integral part of these financial statements.
Page 267
UBAM - RUSSIAN EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
5,957,281.21
Securities portfolio at market value Cash at banks Dividends receivable
Note 2
5,683,718.34 244,641.53 28,921.34
Liabilities
114,149.57
Bank liabilities Payable on treasury transactions Interest payable on bank liabilities and expenses payable
83,403.07 39.13 30,707.37
Note 2
Net assets at the end of the period
5,843,131.64
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
Capitalisation shares
25,804.007
2,570.000
994.000
27,380.007
Distribution shares
62,100.766
182.330
3,005.326
59,277.770
8,488.000
1,497.000
5,787.000
4,198.000
6.222
16.443
5.000
17.665
A shares
A EUR shares
Capitalisation shares
R shares
Capitalisation shares
The accompanying notes are an integral part of these financial statements.
Page 268
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - RUSSIAN EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
A EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
5,843,131.64
5,453,284.36
5,619,488.78
USD
USD
USD
27,380.007 66.72
25,804.007 58.04
26,155.005 52.14
59,277.770 63.17 1.23
62,100.766 56.03 1.28
75,826.461 51.28 1.32
EUR
EUR
EUR
4,198.000 58.03
8,488.000 51.62
7,297.000 41.63
USD
USD
USD
17.665 66.65
6.222 58.15
2.047 52.43
The accompanying notes are an integral part of these financial statements.
Page 269
UBAM - RUSSIAN EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Cost
Market value
% of total net assets
6,782,420.74
5,683,718.34
97.27
6,782,420.74
5,683,718.34
97.27
PLN
54,139.65 54,139.65
53,516.64 53,516.64
0.92 0.92
RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB
2,859,214.39 73,686.58 561,081.38 48,112.47 81,590.33 216,094.52 210,727.77 59,078.33 32,423.77 126,838.50 429,349.10 164,869.09 217,781.84 102,804.37 265,362.37 269,413.97
2,638,610.54 144,557.86 393,095.93 73,809.28 91,117.48 246,478.19 118,294.37 64,553.21 59,269.66 74,563.58 359,760.27 156,002.41 262,462.84 103,882.37 238,055.52 252,707.57
45.16 2.47 6.74 1.26 1.56 4.22 2.02 1.10 1.01 1.28 6.17 2.67 4.49 1.78 4.07 4.32
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
3,869,066.70 169,061.18 98,682.06 737,742.43 243,392.30 410,639.89 215,919.81 111,465.87 585,202.15 160,244.34 174,313.75 364,741.81 88,035.10 50,738.16 245,041.60 25,200.00 69,079.45 119,566.80
2,991,591.16 152,163.30 62,763.15 466,324.76 167,563.80 162,711.36 176,591.10 33,738.20 501,240.00 140,454.00 152,880.00 290,798.49 102,000.00 58,500.00 285,973.00 44,400.00 82,050.00 111,440.00
51.19 2.60 1.07 7.98 2.87 2.78 3.02 0.58 8.58 2.40 2.62 4.98 1.75 1.00 4.89 0.76 1.40 1.91
6,782,420.74
5,683,718.34
97.27
161,238.46
2.76
-1,825.16
-0.03
5,843,131.64
100.00
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
New Polish Zloty
4,000 KERNEL HOLDING SA 108,000 279,000 1,349 84,000 8,280 25,289 1,500,000 1,500,000 15,787 2,550 41,000 149,000 95,000 396,000 91,458 17,097 25,670 108,196 13,194 41,508 36,039 9,923 12,000 2,700 14,700 21,881 1,000 4,500 19,388 3,000 7,500 5,600
Russian Ruble
AEROFLOT AK SBEREGATELNY BK SBERBANK AKRON OJSC ALROSA CJSC BASHNEFT PREF SHS RUB DIXY GROUP (SHS) E.ON RUSSIA OJSC INTER RAO UES M VIDEO COMPANY JSC MAGNIT JSC MOBILE TELESYSTEMS MOSCOW EXCHANGE ROSTELECOM PREF SHS SURGUTNEFTEGAZ TATNEFT PREF.SHS
US Dollar
CHERKIZOVO GRP GDR REGS ETALON GRP GDR REPR 1SHS REG S GAZPROM ADR REPR. 2 SHS GAZPROM NEFT ADR REPR 5 SHS GLOBALTRANS INV -GDR- REP 1 SH REG -S HALYK BANK SPONS GDR REPR 4 SHS REGS KCELL GDR REPR SHS REGS LUKOIL ADR REP 1 SH LUXOFT HOLDING -AMEGAFON GDR REPR SHS REGS MMC NORILSK NICADR REPR SHS NOVATEK GDR REPR 1/100 SHS REG-S NOVOLIPETSK STEEL - GDR - REPR SHS REG S PHOSAGRO GDR REPR SHS REG S ROS AGRO GDR REP.1/5 REGS WHEN ISSUED SEVERSTAL GDR REPR SHS REG-S SER -OCT06X5 RETAIL GROUP GDR REPR SHS REG-S
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 270
UBAM - RUSSIAN EQUITY
Geographical classification of investments (by domicile of the issuer) Russia Kazakhstan Cyprus British Virgin Islands Guernsey Luxembourg
% of net assets 85.74 3.60 3.54 2.40 1.07 0.92 97.27
Industrial classification of investments % of net assets 32.04 10.79 9.78 9.76 6.45 5.25 5.03 4.98 2.40 2.40 2.11 1.91 1.28 1.26 1.07 0.76
Petroleum Foods and non alcoholic drinks Holding and finance companies Banks and credit institutions Chemicals Transportation Communications Non-ferrous metals Internet and Internet services Coal mining and steel industry Utilities Miscellaneous services Retail trade, department stores Pharmaceuticals and cosmetics Building materials and trade Agriculture and fishery
97.27
Page 271
UBAM - RUSSIAN EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
54,837.87
Dividends, net Interest on bank accounts
Note 2
Expenses
54,828.37 9.50 81,124.32
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
47,877.05 7,087.20 1,478.48 2,795.37 55.42 1,141.36 2,543.49 9,439.23 7,824.16 882.56 -26,286.45
Net realised gain/(loss) on: - securities portfolio - foreign exchange
Note 2 Note 2
Realised result
-144,705.90 -447,200.95 -618,193.30
Net variation of the unrealised gain/(loss) on: - securities portfolio
Note 2
Result of operations
1,398,105.74 779,912.44
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-73,422.95 262,128.58 11,078.37 -416,651.68 -173,197.48 389,847.28
Total net assets at the beginning of the period
5,453,284.36
Total net assets at the end of the period
5,843,131.64
The accompanying notes are an integral part of these financial statements.
Page 272
UBAM - SNAM JAPAN EQUITY VALUE
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in JPY
Assets
40,968,226,785
Securities portfolio at market value Cash at banks Interest receivable on bonds and other debt securities Dividends receivable
Note 2
39,208,143,380 1,724,479,380 332 35,603,693
Liabilities
1,034,278,097
Bank liabilities Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
15,638,846 869,083,400 149,555,851
Note 2, 8
Net assets at the end of the period
39,933,948,688
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares
AH USD shares
Capitalisation shares Distribution shares
AH SEK shares
Capitalisation shares
AH GBP shares
Capitalisation shares
I shares
Capitalisation shares Distribution shares
IH EUR shares
Capitalisation shares
IH CHF shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
12,387,894.868
1,032,345.714
8,002,394.190
5,417,846.392
210,019.000
63,657.000
133,453.000
140,223.000
1,627,205.876
950,546.980
1,088,684.357
1,489,068.499
600,856.512
41,035.559
166,930.525
474,961.546
55,676.868
12,183.551
10,740.000
57,120.419
2,189,128.604
26,190.000
786,894.031
1,428,424.573
0.000
1,388.632
0.000
1,388.632
1,014.232
150.816
398.663
766.385
365.000
150.000
365.000
150.000
10,839,318.669
1,221,317.938
3,603,659.559
8,456,977.048
0.000
77,461.898
0.000
77,461.898
16,984,574.356
3,371,127.738
3,995,167.608
16,360,534.486
81,272.991
19,728.000
62,050.978
38,950.013
The accompanying notes are an integral part of these financial statements.
Page 273
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - SNAM JAPAN EQUITY VALUE Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
IH USD shares
Capitalisation shares
IH GBP shares
Distribution shares
U shares
Capitalisation shares Distribution shares
R shares
Capitalisation shares
RH EUR shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
3,975,158.172
265,313.249
1,456,614.532
2,783,856.889
47,730.000
0.000
47,000.000
730.000
3,975,286.354
0.000
3,975,286.354
0.000
594,700.000
117,109.000
575,714.000
136,095.000
119,159.994
8,505.954
56,358.365
71,307.583
291.338
943.045
0.000
1,234.383
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
JPY
JPY
JPY
39,933,948,688
81,334,627,867
79,551,307,424
JPY
JPY
JPY
5,417,846.392 1,029
12,387,894.868 1,347
11,835,513.691 1,253
140,223.000 1,016 12.00
210,019.000 1,343 -
130,134.000 1,250 -
EUR
EUR
EUR
1,489,068.499 8.10
1,627,205.876 10.76
1,786,603.333 10.09
474,961.546 7.80 0.09
600,856.512 10.46 -
594,164.180 9.80 -
CHF
CHF
CHF
57,120.419 83.70
55,676.868 111.34
26,365.000 105.48
The accompanying notes are an integral part of these financial statements.
Page 274
UBAM - SNAM JAPAN EQUITY VALUE Key figures relating to the last 3 years Period/Year ended as at:
Total net assets AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH SEK shares Capitalisation shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
IH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
JPY
JPY
JPY
39,933,948,688
81,334,627,867
79,551,307,424
USD
USD
USD
1,428,424.573 12.60
2,189,128.604 16.68
2,107,111.673 15.62
1,388.632 89.50
-
-
SEK
SEK
SEK
766.385 904.42
1,014.232 1,204.39
11,368.956 1,140.04
GBP
GBP
GBP
150.000 75.65
365.000 100.40
-
JPY
JPY
JPY
8,456,977.048 1,129
10,839,318.669 1,474
11,708,541.278 1,360
77,461.898 8,867
-
-
EUR
EUR
EUR
16,360,534.486 8.39
16,984,574.356 11.10
15,307,256.816 10.33
CHF
CHF
CHF
38,950.013 77.07
81,272.991 102.15
-
USD
USD
USD
2,783,856.889 12.89
3,975,158.172 17.01
6,561,372.648 15.81
GBP
GBP
GBP
730.000 87.07 1.00
47,730.000 116.19 -
47,000.000 107.63 -
The accompanying notes are an integral part of these financial statements.
Page 275
UBAM - SNAM JAPAN EQUITY VALUE Key figures relating to the last 3 years Period/Year ended as at:
Total net assets U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
RH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
JPY
JPY
JPY
39,933,948,688
81,334,627,867
79,551,307,424
JPY
JPY
JPY
-
3,975,286.354 1,170
3,975,286.354 1,080
136,095.000 767 9.00
594,700.000 1,011 -
-
JPY
JPY
JPY
71,307.583 649
119,159.994 854
86,157.399 802
EUR
EUR
EUR
1,234.383 103.31
291.338 137.97
10.000 130.68
The accompanying notes are an integral part of these financial statements.
Page 276
UBAM - SNAM JAPAN EQUITY VALUE Statement of investments and other net assets as at 30/06/2016 Expressed in JPY Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
100,500 382,000 181,800 1,544,000 397,200 84,300 130,200 1,684,000 1,519,800 55,000 91,400 173,300 95,400 1,292,300 3,002,000 800,000 1,629,000 1,703,000 275,000 664,000 233,400 3,875,000 573,700 325,500 1,406,000 2,717,200 394,600 315,800 144,900 312,800 1,149,200 248,900 602,000 1,454,300 6,290,000 373,500 12,002,500 130,700 901,800 3,511,000 2,184,000 383,500 967,700 66,700 265,000 624,500 1,083,400 317,000 172,400 218,000 254,000 675,300 765,200 578,000 561,000 794,000 142,700 705,000 520,000 431,700 308,600 2,275,200
Japanese Yen
ALPEN CO LTD ASAHI GLASS CO LTD BROTHER INDUSTRIES CHIBA BANK CITIZEN HOLDINGS -SHSCOSEL DAIBIRU CORP DAIDO STEEL DAI-ICHI LIFE INSURANCE CO LT DAISEKI CO LTD EPS HLDG EXEDY CORP FCC CO LTD FUJI MEDIA HLDGS FUJITSU LTD f*ckUOKA FINANCIAL GROUP FURUKAWA-SKY ALUMINIUM CORP GS YUASA CORP GUNZE HANWA CO LTD HITACHI KOKI CO LTD HITACHI LTD HONDA MOTOR CO LTD HOSIDEN CORP JFE HOLDINGS INC JX HOLDINGS INC K'S HOLDINGS SHS KURARAY CO LTD KYOEI STEEL -SHSKYOWA EXEO CORP MAZDA MOTOR CORP MITSUBISHI CORP MITSUBISHI ELECTRIC CORP MITSUI AND CO LTD MITSUI OSK LINES LTD MITSUMI ELECTRIC CO LTD MIZUHO FINANCIAL GROUP INC NAGASE CO LTD NIPPON STEEL AND SUMITOMO CORP NIPPON YUSEN KK NISHI NIPPON CITY BANK NISSAN MOTOR CO LTD NOMURA HOLDINGS INC OKINAWA ELECTRIC POWER CO LTD ONWARD HOLDINGS PANASONIC CORP RICOH CO LTD SANKEN ELECTRIC SEIKO EPSON CORP SHINDENGEN ELECTRIC MFG CO LTD SHOWA CORP SONY FINANCIAL HOLDINGS SUMITOMO CORP SUMITOMO METAL MINING CO LTD SUMITOMO MITSUI FINANCIAL GROUP INC SUMITOMO WAREHOUSE TACHI-S CO LTD TOKAI CARBON CO LTD TOSHIBA MACHINE CO LTD TSUMURA AND CO XEBIO HLDS SHS YAMADA DENKI CO LTD
JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY JPY
The accompanying notes are an integral part of these financial statements.
Page 277
Market value
% of total net assets
51,175,567,294
39,208,143,380
98.18
51,175,567,294
39,208,143,380
98.18
51,175,567,294 189,328,725 249,033,831 223,492,941 838,751,112 215,187,937 103,165,999 127,877,572 738,799,052 2,296,088,010 102,992,995 115,294,797 486,028,280 175,618,410 2,054,910,935 1,274,664,726 303,341,409 519,738,778 804,356,062 76,862,882 291,600,629 199,317,718 2,686,455,576 2,041,943,452 197,158,193 2,986,359,232 1,371,082,346 650,510,678 419,484,279 269,824,326 394,104,682 2,662,286,034 530,599,003 693,686,696 2,231,777,913 2,268,980,073 267,944,895 2,446,684,116 176,981,530 2,616,091,041 975,547,353 443,604,126 369,706,918 391,873,599 111,624,718 192,746,836 753,738,352 1,327,179,996 133,116,383 328,964,439 107,304,085 248,986,993 851,725,869 995,308,379 831,745,672 2,434,808,652 459,548,469 211,303,245 220,225,950 237,747,183 1,150,351,546 624,922,684 921,092,983
39,208,143,380 168,438,000 210,864,000 197,798,400 742,664,000 197,011,200 88,262,100 114,185,400 587,716,000 1,712,814,600 108,680,000 117,357,600 377,794,000 157,887,000 1,484,852,700 1,122,748,000 268,000,000 392,589,000 664,170,000 78,650,000 351,920,000 142,140,600 1,642,612,500 1,475,843,250 206,041,500 1,848,890,000 1,083,347,640 752,502,200 383,697,000 225,319,500 398,507,200 1,561,762,800 445,033,200 727,216,000 1,764,793,050 1,358,640,000 153,135,000 1,779,970,750 146,906,800 1,765,724,400 628,469,000 390,936,000 352,014,650 353,404,040 143,071,500 169,070,000 550,184,500 957,725,600 99,855,000 281,529,200 70,196,000 145,034,000 772,543,200 783,947,400 594,473,000 1,641,486,000 402,558,000 213,479,200 179,775,000 160,160,000 1,196,240,700 444,692,600 1,228,608,000
98.18 0.42 0.53 0.50 1.86 0.49 0.22 0.29 1.47 4.29 0.27 0.29 0.95 0.40 3.72 2.81 0.67 0.98 1.66 0.20 0.88 0.36 4.11 3.70 0.52 4.64 2.71 1.88 0.96 0.56 1.00 3.91 1.11 1.82 4.42 3.40 0.38 4.47 0.37 4.42 1.57 0.98 0.88 0.88 0.36 0.42 1.38 2.40 0.25 0.70 0.18 0.36 1.93 1.96 1.49 4.11 1.01 0.53 0.45 0.40 3.00 1.11 3.08
Cost
UBAM - SNAM JAPAN EQUITY VALUE Statement of investments and other net assets as at 30/06/2016 Expressed in JPY Number/ nom. value
Description
Currency
191,100 YAMATO KOGYO CO LTD
JPY
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 278
Cost
Market value
% of total net assets
553,985,999
442,205,400
1.11
51,175,567,294
39,208,143,380
98.18
1,708,840,534
4.28
-983,035,226
-2.46
39,933,948,688
100.00
UBAM - SNAM JAPAN EQUITY VALUE
Geographical classification of investments (by domicile of the issuer) Japan
% of net assets 98.18 98.18
Industrial classification of investments % of net assets 27.58 10.73 9.54 8.74 8.54 5.98 4.61 4.29 3.00 2.92 2.84 2.81 1.53 1.49 1.41 0.76 0.36 0.29 0.29 0.27 0.20
Holding and finance companies Road vehicles Electronics and semiconductors Miscellaneous trading companies Coal mining and steel industry Transportation Retail trade, department stores Insurance Pharmaceuticals and cosmetics Electrical engineering and electronics Banks and credit institutions Office supplies and computing Building materials and trade Non-ferrous metals Chemicals Machine and apparatus construction Utilities Healthcare and social services Real estate companies Environmental services and recycling Textiles and garments
98.18
Page 279
UBAM - SNAM JAPAN EQUITY VALUE Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in JPY
Income
610,706,298
Dividends, net Interest on bank accounts Other income
Note 2
Expenses
610,704,968 1,310 20 640,917,178
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
313,462,026 54,604,313 4,442,575 28,519,348 475,114 388 769,890 214,690,673 18,051,543 425,511 5,475,797 -30,210,880
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-2,453,437,431 -4,293,373,531 -64,774,208 -6,841,796,050
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-13,928,601,975 -211,224,618 -20,981,622,643
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-9,329,526 8,672,439,111 1,011,943,849 -28,432,561,785 -1,661,548,185 -41,400,679,179
Total net assets at the beginning of the period
81,334,627,867
Total net assets at the end of the period
39,933,948,688
The accompanying notes are an integral part of these financial statements.
Page 280
UBAM - SWISS EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in CHF
Assets
1,248,869,542.21
Securities portfolio at market value Cash at banks Interest receivable on bonds and other debt securities Receivable on sales of securities Receivable on issues of shares Unrealised gain on forward foreign exchange contracts
Note 2
1,233,944,114.58 1,293,212.40 0.19 9,658,324.52 3,111,008.84 862,881.68
Note 2, 8
Liabilities
4,795,886.04
Bank liabilities Payable on redemptions of shares Interest payable on bank liabilities and expenses payable
843,892.23 931,271.70 3,020,722.11
Net assets at the end of the period
1,244,073,656.17
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
1,897,436.846
348,280.244
197,182.450
2,048,534.640
72,351.503
29,628.124
2,673.000
99,306.627
Capitalisation shares
100.000
771.000
0.000
871.000
Distribution shares
100.000
4,344.000
0.000
4,444.000
132,113.828
23,349.606
27,673.894
127,789.540
242,585.335
43,677.825
38,389.720
247,873.440
0.000
6,503.808
0.000
6,503.808
365.000
2,269.000
0.000
2,634.000
2,095,091.101
509,970.879
729,422.819
1,875,639.161
6,479.563
22,392.551
7,853.278
21,018.836
Capitalisation shares
100.000
521,924.709
36,419.421
485,605.288
Distribution shares
100.000
0.000
0.000
100.000
126,761.929
37,215.424
39,797.165
124,180.188
A shares
Capitalisation shares Distribution shares
AH shares
AH EUR shares
Capitalisation shares
AH USD shares
Capitalisation shares Distribution shares
AH GBP shares
Capitalisation shares
I shares
Capitalisation shares Distribution shares
IH shares
IH EUR shares
Capitalisation shares
The accompanying notes are an integral part of these financial statements.
Page 281
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - SWISS EQUITY Changes in number of shares outstanding from 01/01/2016 to 30/06/2016 Shares outstanding as at 01/01/2016
Shares issued
67,068.000
196,888.000
26,839.000
237,117.000
Capitalisation shares
11,307.168
51,535.457
12,805.497
50,037.128
Distribution shares
17,748.000
27,563.027
4,028.000
41,283.027
Capitalisation shares
10.000
0.000
0.000
10.000
Distribution shares
10.000
0.000
0.000
10.000
10.000
1,373.244
0.000
1,383.244
2,023.164
9,274.076
0.000
11,297.240
10.000
0.000
0.000
10.000
9,473.033
2,687.929
3,473.423
8,687.539
IH USD shares
Capitalisation shares
U shares
U USD shares
UH EUR shares
Capitalisation shares
UH USD shares
Capitalisation shares Distribution shares
R shares
Capitalisation shares
Shares redeemed
Shares outstanding as at 30/06/2016
Key figures relating to the last 3 years 30/06/2016
31/12/2015
30/06/2014
CHF
CHF
CHF
1,244,073,656.17
1,259,539,786.75
537,460,328.78
CHF
CHF
CHF
2,048,534.640 256.70
1,897,436.846 274.28
975,188.758 258.50
99,306.627 250.76 3.17
72,351.503 271.27 1.64
14,143.345 257.19 1.21
CHF
CHF
CHF
871.000 91.26
100.000 97.47
-
4,444.000 90.13 1.14
100.000 97.47 -
-
Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
The accompanying notes are an integral part of these financial statements.
Page 282
UBAM - SWISS EQUITY Key figures relating to the last 3 years 30/06/2016
31/12/2015
30/06/2014
CHF
CHF
CHF
1,244,073,656.17
1,259,539,786.75
537,460,328.78
EUR
EUR
EUR
127,789.540 166.44
132,113.828 178.07
101,195.425 171.01
USD
USD
USD
247,873.440 219.05
242,585.335 233.59
128,901.996 226.93
6,503.808 100.37
-
-
GBP
GBP
GBP
2,634.000 94.05
365.000 101.12
-
CHF
CHF
CHF
1,875,639.161 269.44
2,095,091.101 287.33
790,150.487 269.74
21,018.836 263.26 3.33
6,479.563 284.24 1.71
3,380.000 268.37 1.26
CHF
CHF
CHF
485,605.288 91.58
100.000 97.62
-
100.000 90.46 1.14
100.000 97.62 -
-
EUR
EUR
EUR
124,180.188 125.02
126,761.929 133.49
83,429.524 127.70
USD
USD
USD
237,117.000 102.73
67,068.000 109.34
20,840.275 105.81
Period/Year ended as at:
Total net assets AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
The accompanying notes are an integral part of these financial statements.
Page 283
UBAM - SWISS EQUITY Key figures relating to the last 3 years 30/06/2016
31/12/2015
30/06/2014
CHF
CHF
CHF
1,244,073,656.17
1,259,539,786.75
537,460,328.78
CHF
CHF
CHF
50,037.128 258.70
11,307.168 275.95
917.003 259.20
41,283.027 92.12 1.16
17,748.000 99.48 -
-
USD
USD
USD
10.000 96.49
10.000 100.20
-
10.000 95.27 1.19
10.000 100.23 -
-
EUR
EUR
EUR
1,383.244 93.83
10.000 100.21
-
USD
USD
USD
11,297.240 97.13
2,023.164 103.40
-
10.000 95.90 1.21
10.000 103.40 -
-
CHF
CHF
CHF
8,687.539 239.48
9,473.033 257.15
10,539.333 244.78
Period/Year ended as at:
Total net assets U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
U USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
UH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
UH USD shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
The accompanying notes are an integral part of these financial statements.
Page 284
UBAM - SWISS EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in CHF Number/ nom. value
Description
Market value
% of total net assets
1,171,047,859.91
1,233,944,114.58
99.19
1,171,047,859.91
1,233,944,114.58
99.19
EUR
24,010,072.86 24,010,072.86
20,505,282.21 20,505,282.21
1.65 1.65
CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF
1,111,851,351.82 58,453,714.78 23,708,053.81 19,417,140.43 7,244,470.54 12,109,724.29 37,516,409.62 5,575,338.49 13,266,864.08 16,956,942.50 6,396,704.79 6,095,485.78 21,804,018.85 12,262,435.91 18,071,943.58 49,881,745.59 25,185,393.96 34,646,829.86 3,646,132.36 15,886,761.86 3,453,095.58 8,218,492.54 9,578,690.00 8,902,568.09 37,304,021.48 9,284,153.05 99,327,219.54 88,426,922.13 10,977,354.17 52,805,282.11 108,412,633.07 7,631,359.61 18,336,164.85 14,898,608.17 9,836,446.75 24,186,597.52 29,879,828.32 54,717,697.19 38,569,382.54 9,548,496.29 59,809,008.49 13,635,450.05 5,985,769.20
1,170,895,593.59 57,239,391.04 33,072,643.20 12,047,327.13 9,551,376.00 11,112,464.60 34,440,298.40 5,434,661.70 15,167,000.00 17,347,007.59 7,404,354.00 7,165,600.00 18,665,684.80 6,650,870.62 15,178,758.00 58,843,568.00 31,792,509.00 40,436,388.00 4,036,375.00 16,549,381.00 4,238,097.60 10,024,252.20 10,355,829.00 12,310,300.20 49,158,101.20 9,020,592.00 107,828,752.05 84,827,233.40 7,968,896.04 72,652,861.00 109,684,044.60 7,930,773.90 19,488,630.00 15,708,904.00 10,320,645.00 35,179,130.00 31,318,012.50 56,191,199.25 36,507,670.80 12,881,450.40 38,384,644.47 16,417,876.40 10,362,039.50
94.12 4.60 2.66 0.97 0.77 0.89 2.77 0.44 1.22 1.39 0.60 0.58 1.50 0.53 1.22 4.73 2.56 3.25 0.32 1.33 0.34 0.81 0.83 0.99 3.95 0.73 8.66 6.81 0.64 5.84 8.81 0.64 1.57 1.26 0.83 2.83 2.52 4.52 2.93 1.04 3.09 1.32 0.83
USD USD
35,186,435.23 18,786,330.94 16,400,104.29
42,543,238.78 21,613,348.49 20,929,890.29
3.42 1.74 1.68
1,171,047,859.91
1,233,944,114.58
99.19
449,320.17
0.04
9,680,221.42
0.78
1,244,073,656.17
100.00
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
Euro
111,908 CONTINENTAL AG 2,993,692 202,651 246,417 41,892 102,703 772,204 177,894 2,615 1,055,813 10,033 55,120 160,496 8,987,663 11,578 159,901 40,917 20,673 6,590 32,674 43,782 156,141 180,730 61,154 304,951 357,960 1,434,847 1,058,356 933,126 174,332 428,286 103,131 8,755 3,854 80,005 91,672 139,875 663,023 97,588 61,516 3,053,671 266,092 35,762
Swiss Franc
ABB LTD REG SHS ACTELION LTD NAMEN ADECCO REG.SHS AUTONEUM HOLDING AG BALOISE HOLDING REG.SHS BB BIOTECH NAM.AKT CALIDA HOLDING -NAMEN CHOCOLADEFABRIKEN LINDT.SPRUENGLI PARTIZIPSCH CLARIANT NAMEN AKT COMET HOLDING AG DAETWYLER HOLDING AG DUFRY GROUP EVOLVA HOLDING NAMEN AKT GALENICA AG NAMEN AKT GEBERIT AG GEORG FISCHER REG. GIVAUDAN SA REG.SHS GURIT HEBERLEIN HELVETIA HOLDING AG HIAG IMMOBILIEN HOLDING AG NAM.AKT IMPLENIA AG INVESTIS HOLDING SA NAM.AKT KOMAX HOLDING NAMEN LONZA GROUP (CHF) MOLECULAR PARTNERS NESTLE SA REG SHS NOVARTIS AG REG SHS OC OERLIKON CORP NAMEN-AKT. PARTNERS GROUP HLDG NAMEN AKT ROCHE HOLDING AG GENUSSSCHEIN SANTHERA PHARMA HLDG SGS SA REG SHS SIKA SONOVA HOLDING NAM-AKT STRAUMANN HOLDING REG SWISS LIFE HOLDING N-NAMEN REGISTERED SWISS RE NAMEN AKT SYNGENTA NAMEN U BLOX HOLDING AG NAMEN AKT UBS GROUP NAMEN-AKT VAT GROUP SA VZ HOLDING AG
US Dollar
251,936 MASTERCARD INC -A289,658 VISA INC -A-
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 285
Cost
UBAM - SWISS EQUITY
Geographical classification of investments (by domicile of the issuer) Switzerland United States of America Germany
% of net assets 94.12 3.42 1.65 99.19
Industrial classification of investments % of net assets 24.33 13.10 12.83 9.88 9.26 5.54 5.20 4.22 4.19 3.50 1.74 1.65 1.50 1.04 0.77 0.44
Pharmaceuticals and cosmetics Chemicals Holding and finance companies Foods and non alcoholic drinks Insurance Building materials and trade Electrical engineering and electronics Miscellaneous services Machine and apparatus construction Biotechnology Banks and credit institutions Tires and rubber Retail trade, department stores Electronics and semiconductors Road vehicles Textiles and garments
99.19
Page 286
UBAM - SWISS EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in CHF
Income
24,726,300.60
Dividends, net Interest on bonds and other debt securities, net Interest on bank accounts
Note 2 Note 2
Expenses
24,715,139.54 25.30 11,135.76 8,055,656.10
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
5,089,599.66 1,266,152.60 192,369.56 631,221.82 12,861.65 1,409.78 11,811.70 777,951.06 8,295.35 1,935.20 62,047.72 16,670,644.50
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-44,792,690.21 -1,263,261.98 164,760.35 -29,220,547.34
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-51,074,704.61 -258,220.69 -80,553,472.64
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-380,976.16 323,403,424.51 17,083,735.21 -271,912,719.76 -3,106,121.74 -15,466,130.58
Total net assets at the beginning of the period
1,259,539,786.75
Total net assets at the end of the period
1,244,073,656.17
The accompanying notes are an integral part of these financial statements.
Page 287
UBAM - SWISS SMALL AND MID CAP EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in CHF
Assets
44,367,053.40
Securities portfolio at market value Cash at banks Receivable on sales of securities Dividends receivable Unrealised gain on forward foreign exchange contracts
Note 2
43,837,272.42 6,704.07 373,202.15 4,894.16 144,980.60
Note 2, 8
Liabilities
355,076.37
Bank liabilities Payable on purchases of securities Interest payable on bank liabilities and expenses payable
36,922.42 201,062.65 117,091.30
Net assets at the end of the period
44,011,977.03
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
AH EUR shares
Capitalisation shares
AH USD shares
Capitalisation shares
AP shares
Capitalisation shares
I shares
Capitalisation shares
IH USD shares
Capitalisation shares
IP shares
Capitalisation shares
U shares
Distribution shares
Shares outstanding as at 01/01/2016
Shares issued
83,533.000
163,105.000
17,848.000
228,790.000
14,162.000
27,451.000
0.000
41,613.000
126,844.000
8,099.000
13,601.000
121,342.000
4,593.000
0.000
600.000
3,993.000
5,035.000
19,174.000
750.000
23,459.000
0.000
320.000
0.000
320.000
21,946.000
1,223.000
12,000.000
11,169.000
3,895.000
3,937.000
110.000
7,722.000
The accompanying notes are an integral part of these financial statements.
Page 288
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - SWISS SMALL AND MID CAP EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
AH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
AP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH USD shares Capitalisation shares Number of shares outstanding Net asset value per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Distribution shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
CHF
CHF
CHF
44,011,977.03
26,700,955.46
-
CHF
CHF
CHF
228,790.000 100.01
83,533.000 101.97
-
EUR
EUR
EUR
41,613.000 101.23
14,162.000 103.32
-
USD
USD
USD
121,342.000 100.19
126,844.000 101.88
-
CHF
CHF
CHF
3,993.000 98.60
4,593.000 100.35
-
CHF
CHF
CHF
23,459.000 101.76
5,035.000 103.55
-
USD
USD
USD
320.000 97.24
-
-
CHF
CHF
CHF
11,169.000 102.02
21,946.000 103.68
-
CHF
CHF
CHF
7,722.000 100.68
3,895.000 102.48
-
The accompanying notes are an integral part of these financial statements.
Page 289
UBAM - SWISS SMALL AND MID CAP EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in CHF Number/ nom. value
Market value
% of total net assets
42,271,219.18
43,837,272.42
99.60
42,271,219.18
43,837,272.42
99.60
42,271,219.18 225,252.16 786,262.95 1,025,384.43 1,122,067.19 453,929.03 284,678.37 379,382.65 146,714.10 329,574.50 714,429.12 2,058,887.93 225,141.00 1,441,322.86 471,883.58 615,580.64 370,157.74 1,424,526.68 440,316.53 707,945.04 459,605.18 1,262,372.43 428,339.36 507,220.71 1,324,519.18 893,591.97 546,164.67 113,127.28 425,041.35 591,925.71 296,272.52 339,306.00 238,321.55 788,962.40 2,289,637.10 2,490,610.04 409,512.55 317,716.67 489,814.38 2,625,332.61 526,558.93 422,232.49 477,806.60 525,859.63 435,248.76 1,937,049.55 2,196,943.80 1,100,299.78 1,108,111.55 915,800.35 752,734.35 502,603.99 675,589.55 633,549.69
43,837,272.42 199,671.00 893,988.00 910,394.80 983,831.40 478,598.00 286,624.80 392,552.60 128,218.35 313,846.20 696,000.00 2,064,800.00 174,264.30 1,343,267.51 483,390.00 641,416.80 374,140.00 1,310,352.10 289,469.50 724,138.80 490,568.00 1,234,962.00 461,920.70 553,840.00 1,557,885.00 991,025.00 526,253.50 119,354.40 462,420.00 701,385.00 369,765.00 366,834.60 237,703.40 859,349.70 2,325,615.00 2,680,756.00 318,855.60 179,344.80 412,601.56 3,101,870.25 522,428.00 365,890.20 529,815.00 538,734.45 438,984.00 2,135,824.00 2,300,973.00 1,424,480.00 1,048,523.70 997,581.60 877,805.90 479,846.25 714,813.25 820,299.40
99.60 0.45 2.03 2.07 2.24 1.09 0.65 0.89 0.29 0.71 1.58 4.69 0.40 3.05 1.10 1.46 0.85 2.98 0.66 1.65 1.11 2.81 1.05 1.26 3.54 2.25 1.20 0.27 1.05 1.59 0.84 0.83 0.54 1.95 5.28 6.09 0.72 0.41 0.94 7.06 1.19 0.83 1.20 1.22 1.00 4.85 5.23 3.24 2.38 2.27 1.99 1.09 1.62 1.86
42,271,219.18
43,837,272.42
99.60
Cash at banks/(bank liabilities)
-30,218.35
-0.07
Other net assets/(liabilities)
204,922.96
0.47
44,011,977.03
100.00
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
12,882 3,921 8,414 22,059 9,868 2,772 3,274 4,197 9,258 10 356 8,757 81,757 655 4,029 2,878 11,267 391,175 7,854 424 942 6,778 1,505 2,005 1,618 1,039 1,233 8,808 10,925 405 6,402 2,266 4,269 17,075 16,630 12,653 11,799 48,314 7,443 2,620 4,758 570 7,859 2,340 524 17,837 3,712 4,683 4,764 14,227 965 2,467 4,463
Swiss Franc
ASCOM HOLDING AG REG. AUTONEUM HOLDING AG BALOISE HOLDING REG.SHS BB BIOTECH NAM.AKT BOBST GROUP SA NOM. BOSSARD HOLDING AG BURKHALTER HOLD CALIDA HOLDING -NAMEN CASSIOPEA SPA CHOCOLADEFABRIKEN LINDT.SPRUENGLI NOM. CHOCOLADEFABRIKEN LINDT.SPRUENGLI PARTIZIPSCH CICOREL TECHNOLOGIES ACT. NOM. CLARIANT NAMEN AKT COMET HOLDING AG COSMO PHARM DAETWYLER HOLDING AG DUFRY GROUP EVOLVA HOLDING NAMEN AKT FEINTOOL INTERNATIONAL HOLDING REG SHS FORBO HOLDING NOM. GALENICA AG NAMEN AKT GE MONEY BANK AG GEBERIT AG GEORG FISCHER REG. GURIT HEBERLEIN HELVETIA HOLDING AG HIAG IMMOBILIEN HOLDING AG NAM.AKT HUBER + SUHNER AG IMPLENIA AG INTERROLL-HOLDING NOM. INVESTIS HOLDING SA NAM.AKT JUNGFRAUBAHN HOLDING -NAMENKOMAX HOLDING NAMEN KUEHNE + NAGEL INTERNATIONAL AG LONZA GROUP (CHF) MOLECULAR PARTNERS NEWRON PHARMACEUTICALS S.P.A. OC OERLIKON CORP NAMEN-AKT. PARTNERS GROUP HLDG NAMEN AKT RIETER HOLDING NOM. SANTHERA PHARMA HLDG SCHWEITER TECHNOLOGIES AG SFS GROUP - NAMEN-AKT SIEGFRIED HOLDING SIKA SONOVA HOLDING NAM-AKT STRAUMANN HOLDING REG SWISS LIFE HOLDING N-NAMEN REGISTERED U BLOX HOLDING AG NAMEN AKT VAT GROUP SA VAUDOISE ASSURANCES HOLDING SA VZ HOLDING AG YPSOMED HOLDING AG NAM.AKT
CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF CHF
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 290
Cost
UBAM - SWISS SMALL AND MID CAP EQUITY
Geographical classification of investments (by domicile of the issuer) Switzerland The Netherlands Italy
% of net assets 97.02 1.46 1.12 99.60
Industrial classification of investments % of net assets 17.24 17.21 13.51 12.40 6.74 6.27 5.82 3.96 2.98 2.96 2.67 2.15 2.03 1.87 1.05 0.45 0.29
Chemicals Pharmaceuticals and cosmetics Holding and finance companies Machine and apparatus construction Insurance Foods and non alcoholic drinks Transportation Building materials and trade Retail trade, department stores Biotechnology Electronics and semiconductors Electrical engineering and electronics Road vehicles Miscellaneous trading companies Banks and credit institutions Communications Textiles and garments
99.60
Page 291
UBAM - SWISS SMALL AND MID CAP EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in CHF
Income
687,236.79
Dividends, net
Note 2
Expenses
687,236.79 299,267.61
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
171,365.00 38,554.13 9,510.25 18,406.92 429.20 685.32 875.64 56,037.60 1,234.50 2,169.05 387,969.18
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-912,329.45 -282,139.75 -4,696.80 -811,196.82
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
764,555.35 -39,557.87 -86,199.34
Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
21,462,503.96 391,944.54 -4,446,141.53 -11,086.06
Total changes in net assets
17,311,021.57
Total net assets at the beginning of the period
26,700,955.46
Total net assets at the end of the period
44,011,977.03
The accompanying notes are an integral part of these financial statements.
Page 292
UBAM - TURKISH EQUITY
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
23,367,316.81
Securities portfolio at market value Cash at banks Dividends receivable
Note 2
22,460,304.20 896,613.32 10,399.29
Liabilities
884,692.81
Bank liabilities Payable on treasury transactions Interest payable on bank liabilities and expenses payable
762,332.00 5,292.79 117,068.02
Note 2
Net assets at the end of the period
22,482,624.00
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
A EUR shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares
I EUR shares
Capitalisation shares
IP shares
Capitalisation shares
IP EUR shares
Capitalisation shares
U shares
Capitalisation shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
188,732.605
300.369
14,618.985
174,413.989
11,461.712
635.562
3,666.748
8,430.526
843.725
525.000
457.000
911.725
2,933.480
11,542.976
12,215.854
2,260.602
34,755.000
1,455.000
400.000
35,810.000
1,589.495
94.666
94.666
1,589.495
5,396.011
2,095.000
2,527.000
4,964.011
60.000
0.000
0.000
60.000
302.800
79.362
51.343
330.819
The accompanying notes are an integral part of these financial statements.
Page 293
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - TURKISH EQUITY Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
A EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
I EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IP shares Capitalisation shares Number of shares outstanding Net asset value per share
IP EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
22,482,624.00
22,276,397.88
47,477,980.61
USD
USD
USD
174,413.989 91.52
188,732.605 84.58
220,385.014 124.29
EUR
EUR
EUR
8,430.526 105.29
11,461.712 99.51
21,079.216 131.27
911.725 102.93 1.69
843.725 98.75 -
648.725 130.27 -
USD
USD
USD
2,260.602 95.74
2,933.480 88.15
49,521.558 128.58
EUR
EUR
EUR
35,810.000 110.82
34,755.000 104.35
40,620.554 136.65
USD
USD
USD
1,589.495 96.69
1,589.495 88.81
4,381.481 128.85
EUR
EUR
EUR
4,964.011 111.51
5,396.011 104.74
17,668.172 136.43
USD
USD
USD
60.000 106.59
60.000 98.16
-
USD
USD
USD
330.819 90.05
302.800 83.53
577.151 123.62
The accompanying notes are an integral part of these financial statements.
Page 294
UBAM - TURKISH EQUITY Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Shares
490,000 130,000 152,000 211,887 448,247 32,000 10,500 405,680 35,500 122,000 22,000 26,000 32,000 77,000 276,111 1,537,000 146,151 471,000 41,000 705,001 209,000 172,158 70,643 158,000 80,000 76,000 95,000 115,000 261,000 90,000 115,005 56,000 147,917 35,000 372,000 100,000 206,000 193,501 864,000 312,000 906,000 1,521,685 359,000 73,000 405,000
Turkish Lira
AKBANK AKSA ALBARAKA TURK KATILIM BANKASI ALKIM KAGIT ANADOLU CAM SANAYII ANADOLU EFES BIRACILIK VE MALT SANAYI ARCELIK BATI SOEKE CIMENTO SANAYI AS BIM BIRLESIK MAGAZALAR BIZIM TOPTAM SATIS MAGAZALARI CIMSA CIMENTO SANAYI VE TICARET COCA COLA ICECEK SANAYI A.S DOGUS OTOMOTIV SERVIS ECZACIBASI ILAC SHS EGE SERAMIK CO INC EMLAK KONUT REIT ENKA INSAAT VE SANAY A.S EREGLI DEMIR VE CELIK FORD OTOMOTIV GENTAS CLENEL METAL HACI OMER SABANCI HOLDING AS HEKTAS TICARET AS IS GAYRIMENKUL YATIRIM KOC HOLDING AS -BMIGROS TICARET A.S. NUH CIMENTO SANAYII PETKIM PETROKIMYA HOLDING AS SODA SANAYII T TUBORG BIRA VE MALT SANAYII AS TAV HAVALIMALARI HOLDING AS TEKNOSA TOFAS TURK OTOMOBIL FABRIKASI AS TRAKYA CAM SANAYII TUPRAS TURKIYE PETROL RAFINELERI TURK HAVA YOLLARI AO TURK SISE CAM TURK TELEKOM TURKCELL ILETISIM HIZMET TURKIYE GARANTI BANKASI AS (NAMEN-AKT) TURKIYE HALK BANKA -SHSTURKIYE IS BANKASI AS TURKIYE SINAI KALK TURKIYE VAKIFLAR BANKASI TAO ULKER GIDA YAPI VE KREDI BANKASI AS
TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY TRY
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 295
Market value
% of total net assets
27,318,304.46
22,460,304.20
99.90
27,318,304.46
22,460,304.20
99.90
27,318,304.46 1,532,341.59 352,709.17 116,532.80 94,945.73 329,259.98 225,367.42 65,126.79 402,817.67 623,326.81 732,701.08 105,075.52 582,063.62 114,532.13 71,126.05 418,596.39 1,731,078.07 305,829.62 744,398.46 471,042.34 532,609.46 847,099.20 162,075.89 34,170.27 761,563.33 480,437.20 269,822.97 100,138.12 181,167.73 421,359.42 639,812.36 453,450.78 385,122.64 117,595.85 776,604.42 1,187,654.53 131,736.56 492,134.51 989,645.65 3,016,702.33 1,763,311.27 1,891,868.81 773,905.45 638,463.34 503,776.74 747,204.39
22,460,304.20 1,402,362.68 347,643.51 70,300.70 100,946.05 321,106.46 216,438.25 69,120.10 308,952.81 691,939.94 601,165.59 115,904.35 317,535.50 117,956.06 89,433.79 384,068.01 1,528,636.88 223,116.01 664,984.27 436,284.43 316,259.71 684,638.98 207,740.47 41,270.80 720,867.35 460,418.13 247,902.47 126,858.41 181,959.05 488,300.55 385,895.77 227,558.69 460,362.49 117,278.22 775,912.35 739,951.75 123,450.48 433,398.12 711,250.58 2,277,442.28 926,567.14 1,436,671.48 703,786.34 563,035.04 533,097.43 560,534.73
99.90 6.24 1.55 0.31 0.45 1.43 0.96 0.31 1.37 3.08 2.67 0.52 1.41 0.52 0.40 1.71 6.80 0.99 2.96 1.94 1.41 3.05 0.92 0.18 3.21 2.05 1.10 0.56 0.81 2.17 1.72 1.01 2.05 0.52 3.45 3.29 0.55 1.93 3.16 10.14 4.12 6.39 3.13 2.50 2.37 2.49
27,318,304.46
22,460,304.20
99.90
134,281.32
0.60
-111,961.52
-0.50
22,482,624.00
100.00
Cost
UBAM - TURKISH EQUITY
Geographical classification of investments (by domicile of the issuer) Turkey
% of net assets 99.90 99.90
Industrial classification of investments % of net assets 35.32 6.86 6.80 6.44 5.93 5.73 5.09 5.01 4.51 3.45 3.26 3.13 2.96 2.29 1.41 0.86 0.45 0.40
Banks and credit institutions Foods and non alcoholic drinks Real estate companies Holding and finance companies Building materials and trade Retail trade, department stores Communications Transportation Road vehicles Petroleum Textiles and garments Tobacco and alcoholic drinks Coal mining and steel industry Chemicals Various capital goods Miscellaneous consumer goods Paper and forest products Pharmaceuticals and cosmetics
99.90
Page 296
UBAM - TURKISH EQUITY Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
512,533.63
Dividends, net Interest on bank accounts
Note 2
Expenses
502,190.33 10,343.30 290,344.74
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Banking charges and other fees Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment income
190,503.00 24,176.53 4,973.38 12,010.36 251.41 3,463.35 2,909.54 26,098.59 22,451.70 1,202.32 2,304.56 222,188.89
Net realised gain/(loss) on: - securities portfolio - foreign exchange
Note 2 Note 2
Realised result
218,465.26 -1,626,485.01 -1,185,830.86
Net variation of the unrealised gain/(loss) on: - securities portfolio
Note 2
Result of operations
3,036,269.15 1,850,438.29
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-2,511.35 1,760,553.37 61,873.52 -3,412,682.98 -51,444.73 206,226.12
Total net assets at the beginning of the period
22,276,397.88
Total net assets at the end of the period
22,482,624.00
The accompanying notes are an integral part of these financial statements.
Page 297
UBAM - EURO EQUITY INCOME
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
72,122,427.26
Securities portfolio at market value Cash at banks Dividends receivable
Note 2
71,616,806.40 440,614.46 65,006.40
Liabilities
222,332.26
Interest payable on bank liabilities and expenses payable
222,332.26
Net assets at the end of the period
71,900,095.00
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
I GBP shares
Distribution shares
U shares
Distribution shares
R shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
151,042.883
45,285.000
19,045.292
177,282.591
11,107.000
22,272.000
14,590.000
18,789.000
123,694.325
0.000
0.000
123,694.325
2,490.000
2,623.000
607.000
4,506.000
10.000
0.000
0.000
10.000
The accompanying notes are an integral part of these financial statements.
Page 298
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - EURO EQUITY INCOME Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I GBP shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
U shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
71,900,095.00
70,788,071.43
46,999,575.46
EUR
EUR
EUR
177,282.591 307.29
151,042.883 342.94
119,363.932 314.61
18,789.000 83.44 2.13
11,107.000 95.35 -
185.000 103.27 -
GBP
GBP
GBP
123,694.325 103.88 2.88
123,694.325 105.35 -
72,426.157 101.01 -
EUR
EUR
EUR
4,506.000 87.16 2.73
2,490.000 99.85 -
-
EUR
EUR
EUR
10.000 82.54
10.000 92.24
-
The accompanying notes are an integral part of these financial statements.
Page 299
UBAM - EURO EQUITY INCOME Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Currency
Open-ended investment funds Investment funds (UCITS) Euro
53,352 UBAM ACTIONS EURO RENDEMENT -ZC- * 15,549 UBAM ACTIONS EURO RENDEMENT -ZD- *
EUR EUR
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
* Please refer to Note 16 The accompanying notes are an integral part of these financial statements.
Page 300
Market value
% of total net assets
74,026,101.92
71,616,806.40
99.61
74,026,101.92
71,616,806.40
99.61
74,026,101.92 56,436,921.71 17,589,180.21
71,616,806.40 55,852,608.24 15,764,198.16
99.61 77.68 21.93
74,026,101.92
71,616,806.40
99.61
440,614.46
0.61
-157,325.86
-0.22
71,900,095.00
100.00
Cost
UBAM - EURO EQUITY INCOME
Geographical classification of investments (by domicile of the issuer) France
% of net assets 99.61 99.61
Industrial classification of investments % of net assets 99.61
Investment funds
99.61
Page 301
UBAM - EURO EQUITY INCOME Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
454,237.41
Dividends, net Interest on bank accounts
Note 2
Expenses
454,217.39 20.02 579,540.17
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
404,587.12 56,207.77 15,403.26 37,182.13 786.09 460.81 2,776.28 1,100.50 58,930.57 2,105.64 -125,302.76
Net realised gain/(loss) on: - securities portfolio - foreign exchange
Note 2 Note 2
Realised result
80,703.37 4,215.11 -40,384.28
Net variation of the unrealised gain/(loss) on: - securities portfolio
Note 2
Result of operations
-7,397,987.00 -7,438,371.28
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-529,436.04 14,200,771.06 2,171,854.43 -6,002,808.43 -1,289,986.17 1,112,023.57
Total net assets at the beginning of the period
70,788,071.43
Total net assets at the end of the period
71,900,095.00
The accompanying notes are an integral part of these financial statements.
Page 302
UBAM - MULTIFUNDS ALLOCATION 30
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
97,275,233.21
Securities portfolio at market value Cash at banks Formation expenses, net Receivable on issues of shares Other receivables
Note 2
91,688,832.89 5,386,044.25 2,691.09 196,679.55 985.43
Note 2
Liabilities
2,671,417.04
Bank liabilities Payable on purchases of securities Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
123,610.49 1,298,201.30 132,263.40 813,690.12 303,651.73
Note 2, 8
Net assets at the end of the period
94,603,816.17
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares Distribution shares
AH GBP shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
309,674.721
24,691.328
43,599.725
290,766.324
1,279.000
62,265.595
2,125.000
61,419.595
203,800.143
20,474.000
24,847.721
199,426.422
0.000
94,648.000
1,639.000
93,009.000
8,807.000
6,757.000
684.000
14,880.000
0.000
56,200.000
69.000
56,131.000
19,598.905
0.000
2,787.938
16,810.967
2,073.951
13,381.000
97.000
15,357.951
0.000
7,489.000
0.000
7,489.000
The accompanying notes are an integral part of these financial statements.
Page 303
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - MULTIFUNDS ALLOCATION 30 Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
94,603,816.17
72,503,964.60
84,953,906.54
USD
USD
USD
290,766.324 130.42
309,674.721 130.20
365,569.929 131.80
61,419.595 96.09 0.53
1,279.000 96.46 -
-
EUR
EUR
EUR
199,426.422 125.34
203,800.143 125.86
210,280.243 127.78
93,009.000 101.56
-
-
CHF
CHF
CHF
14,880.000 95.22
8,807.000 95.82
1,340.000 98.08
56,131.000 101.36
-
-
GBP
GBP
GBP
16,810.967 105.12
19,598.905 105.27
22,711.224 106.41
15,357.951 102.16 0.57
2,073.951 102.87 -
1,605.951 103.99 -
USD
USD
USD
7,489.000 102.16
-
1,000.000 98.71
The accompanying notes are an integral part of these financial statements.
Page 304
UBAM - MULTIFUNDS ALLOCATION 30 Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Market value
% of total net assets
89,927,805.76
91,688,832.89
96.92
89,927,805.76
91,688,832.89
96.92
EUR EUR EUR EUR
6,033,801.61 1,440,659.31 1,891,374.55 1,424,022.52 1,277,745.23
5,650,481.31 1,446,901.28 1,670,416.64 1,279,116.36 1,254,047.03
5.97 1.53 1.76 1.35 1.33
JPY
1,390,164.50 1,390,164.50
1,385,275.03 1,385,275.03
1.46 1.46
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
82,503,839.65 5,000,999.00 8,746,522.92 2,144,521.08 2,000,425.00 1,004,640.00 1,623,372.00 6,128,541.50 2,250,000.00 1,757,536.00 8,201,787.50 7,087,187.00 1,741,903.60 2,131,882.00 1,114,983.20 6,451,292.00 7,218,720.00 6,090,900.00 2,662,811.75 2,288,442.00 2,576,061.00 2,194,812.10 2,086,500.00
84,653,076.55 5,045,680.00 9,161,680.00 2,161,494.00 1,942,640.00 904,610.00 1,432,200.00 5,958,680.00 2,843,610.30 1,888,920.00 8,500,800.00 7,386,060.00 1,722,373.60 2,092,280.00 1,094,191.00 6,521,780.00 7,535,240.00 6,284,940.00 2,824,685.50 2,329,353.50 2,535,946.00 2,373,262.65 2,112,650.00
89.49 5.33 9.69 2.28 2.05 0.96 1.51 6.30 3.01 2.00 8.99 7.81 1.82 2.21 1.16 6.89 7.97 6.64 2.99 2.46 2.68 2.51 2.23
89,927,805.76
91,688,832.89
96.92
5,262,433.76
5.56
Other net assets/(liabilities)
-2,347,450.48
-2.48
Total
94,603,816.17
100.00
Description
Currency
Open-ended investment funds Investment funds (UCITS) 64,000 1,550 762,851 351,215
Euro
COMGEST GROWTH EUROPE FUND ELEVA EURO SELECTION -I (EUR) CAP FP ARGO EUR ALP-I- INSTIT EUR J O HAMBRO CAP MGT UMBRELLA FD PLC EUROPEAN SELECT VAL ISTL
Japanese Yen
140,000 BA GI WO JAPAN ACC PTG CL-B-JPY 4,000 4,400 204,300 14,000 7,000 15,400 52,000 45 44,000 77,000 66,000 172,000 1,900,000 3,610 62,000 257,000 218,000 650 205,000 11,300 16,500 29,000
US Dollar
AMUNDI ABS VOLATILITY WORLD EQ -IU- CAP AMUNDI BOND GLOBAL AGGREGATE -IU- CAP BGF FIX GL OPP --- SHS -I2- CAP ED L SE US SEL GRW USD ZIC CAP GLG JP CORALPHA EQUITY -I H- USD GLG MAN EM EQ ACC CL. -I- USD GS GLOB STR INCOME BD PTF I ACC H2O MULTIBONDS FCP -HI- USD 4 DEC ISH S&P 500 MIN USD USD ETF JPMF AGGR BD -JPM C (DIST) USD- DIS LEGG WE MAC OP -X- USD MACQUARIE S AS ALL S C USD CAP MAJEDIE US EQ Z/US NIFLI US SMALL VALUE I/A(USD)- CAP PICTET-ARFI -I USD- CAP PIMCO GLB INVR SERIES GLOBAL BD -INSPIMCO GLB INVR SR HY BD -INS- CAP PION US FD GR UNITS -I- CAP PRI DELAW US LCV USD I UNH CAP ROBECO CAPITAL GROWTH FDS US PREMIUM EQUITIES I USD CAP VAN GLB BON IND WELLINGTON MGT PTF US RSH EQ -S- USD CAP
Total investments in securities Cash at banks/(bank liabilities)
The accompanying notes are an integral part of these financial statements.
Page 305
Cost
UBAM - MULTIFUNDS ALLOCATION 30
Geographical classification of investments (by domicile of the issuer) Luxembourg Ireland France United Kingdom
% of net assets 56.63 35.93 3.01 1.35 96.92
Industrial classification of investments % of net assets 96.92
Investment funds
96.92
Page 306
UBAM - MULTIFUNDS ALLOCATION 30 Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
5,339.58
Dividends, net Interest on bank accounts Other income
Note 2
Expenses
4,080.69 123.49 1,135.40 660,578.12
Amortisation of formation expenses Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
5,752.22 443,062.32 45,798.07 11,170.53 45,387.96 960.34 1,062.50 2,584.43 11,160.09 90,911.71 2,727.95 -655,238.54
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-1,076,035.00 1,731,362.36 -177,187.94 -177,099.12
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
2,290,502.66 -1,495,810.78 617,592.76
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-39,515.54 7,422,040.82 23,926,806.25 -9,410,265.30 -416,807.42
Total changes in net assets
22,099,851.57
Total net assets at the beginning of the period
72,503,964.60
Total net assets at the end of the period
94,603,816.17
The accompanying notes are an integral part of these financial statements.
Page 307
UBAM - MULTIFUNDS ALLOCATION 50
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
89,045,709.33
Securities portfolio at market value Cash at banks Formation expenses, net Receivable on issues of shares Other receivables
Note 2
81,712,605.25 6,498,609.14 2,691.09 831,200.07 603.78
Note 2
Liabilities
3,882,096.64
Bank liabilities Payable on purchases of securities Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
314,434.26 1,914,922.90 418,687.80 901,555.27 332,496.41
Note 2, 8
Net assets at the end of the period
85,163,612.69
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH CHF shares
Capitalisation shares Distribution shares
AH GBP shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
252,076.000
17,902.659
30,352.295
239,626.364
2,959.000
52,139.939
2,959.000
52,139.939
182,530.967
23,194.000
25,182.335
180,542.632
7,101.000
103,615.000
262.000
110,454.000
4,092.000
5,700.000
207.000
9,585.000
0.000
29,402.000
3,392.000
26,010.000
38,014.145
0.000
2,715.039
35,299.106
0.000
11,086.000
57.000
11,029.000
0.000
1,550.000
0.000
1,550.000
The accompanying notes are an integral part of these financial statements.
Page 308
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - MULTIFUNDS ALLOCATION 50 Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
AH CHF shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
85,163,612.69
68,066,793.63
79,664,735.53
USD
USD
USD
239,626.364 139.09
252,076.000 140.40
272,815.350 143.47
52,139.939 93.71 0.52
2,959.000 95.13 -
-
EUR
EUR
EUR
180,542.632 124.09
182,530.967 125.98
198,267.595 129.42
110,454.000 93.73 0.53
7,101.000 95.70 -
500.000 98.32 -
CHF
CHF
CHF
9,585.000 93.45
4,092.000 95.10
3,490.000 98.07
26,010.000 101.42
-
-
GBP
GBP
GBP
35,299.106 110.73
38,014.145 112.21
50,720.515 114.68
11,029.000 104.44
-
-
USD
USD
USD
1,550.000 107.53
-
-
The accompanying notes are an integral part of these financial statements.
Page 309
UBAM - MULTIFUNDS ALLOCATION 50 Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Market value
% of total net assets
81,163,169.77
81,712,605.25
95.95
81,163,169.77
81,712,605.25
95.95
EUR EUR EUR EUR
9,099,826.89 2,034,570.31 3,045,524.82 2,269,670.48 1,750,061.28
8,426,581.54 2,034,704.93 2,694,565.25 2,054,027.25 1,643,284.11
9.89 2.39 3.16 2.41 1.93
JPY
1,826,070.89 1,826,070.89
1,830,542.01 1,830,542.01
2.15 2.15
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
70,237,271.99 3,121,033.00 5,519,927.31 1,255,942.89 1,255,898.00 3,026,303.90 1,306,032.00 2,471,900.00 3,306,239.16 1,500,000.00 3,098,358.00 5,550,876.00 4,391,790.00 2,172,682.20 3,039,730.00 1,702,706.00 4,358,876.00 4,776,004.17 3,723,786.00 3,718,722.91 3,370,755.80 3,419,550.00 1,198,148.65 2,952,010.00
71,455,481.70 3,153,550.00 5,830,160.00 1,269,600.00 1,143,800.00 2,913,960.00 1,175,993.00 2,176,200.00 3,208,520.00 1,895,740.20 3,348,540.00 5,740,800.00 4,588,310.00 2,142,953.20 2,973,240.00 1,667,050.00 4,417,980.00 4,984,400.00 3,834,390.00 3,911,103.00 3,431,535.40 3,366,300.00 1,294,506.90 2,986,850.00
83.91 3.70 6.85 1.49 1.34 3.42 1.38 2.56 3.77 2.23 3.93 6.74 5.39 2.52 3.49 1.96 5.19 5.85 4.50 4.59 4.03 3.95 1.52 3.51
81,163,169.77
81,712,605.25
95.95
6,184,174.88
7.26
Other net assets/(liabilities)
-2,733,167.44
-3.21
Total
85,163,612.69
100.00
Description
Currency
Open-ended investment funds Investment funds (UCITS) 90,000 2,500 1,225,000 460,227
Euro
COMGEST GROWTH EUROPE FUND ELEVA EURO SELECTION -I (EUR) CAP FP ARGO EUR ALP-I- INSTIT EUR J O HAMBRO CAP MGT UMBRELLA FD PLC EUROPEAN SELECT VAL ISTL
Japanese Yen
185,000 BA GI WO JAPAN ACC PTG CL-B-JPY 2,500 2,800 120,000 35,000 21,000 9,100 23,400 28,000 30 78,000 52,000 41,000 214,000 2,700,000 5,500 42,000 170,000 133,000 900 302,000 15,000 9,000 41,000
US Dollar
AMUNDI ABS VOLATILITY WORLD EQ -IU- CAP AMUNDI BOND GLOBAL AGGREGATE -IU- CAP BGF FIX GL OPP --- SHS -I2- CAP COMGEST GRW EMRG MR ACC CLASS -I- USD ED L SE US SEL GRW USD ZIC CAP GLG JP CORALPHA EQUITY -I H- USD GLG MAN EM EQ ACC CL. -I- USD GS GLOB STR INCOME BD PTF I ACC H2O MULTIBONDS FCP -HI- USD 4 DEC ISH S&P 500 MIN USD USD ETF JPMF AGGR BD -JPM C (DIST) USD- DIS LEGG WE MAC OP -X- USD MACQUARIE S AS ALL S C USD CAP MAJEDIE US EQ Z/US NIFLI US SMALL VALUE I/A(USD)- CAP PICTET-ARFI -I USD- CAP PIMCO GLB INVR SERIES GLOBAL BD -INSPIMCO GLB INVR SR HY BD -INS- CAP PION US FD GR UNITS -I- CAP PRI DELAW US LCV USD I UNH CAP ROBECO CAPITAL GROWTH FDS US PREMIUM EQUITIES I USD CAP VAN GLB BON IND WELLINGTON MGT PTF US RSH EQ -S- USD CAP
Total investments in securities Cash at banks/(bank liabilities)
The accompanying notes are an integral part of these financial statements.
Page 310
Cost
UBAM - MULTIFUNDS ALLOCATION 50
Geographical classification of investments (by domicile of the issuer) Luxembourg Ireland United Kingdom France
% of net assets 54.88 36.43 2.41 2.23 95.95
Industrial classification of investments % of net assets 95.95
Investment funds
95.95
Page 311
UBAM - MULTIFUNDS ALLOCATION 50 Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
7,982.50
Dividends, net Interest on bank accounts Other income
Note 2
Expenses
7,262.48 69.89 650.13 697,564.71
Amortisation of formation expenses Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
5,752.22 501,459.08 39,878.21 10,824.20 39,639.03 848.94 149.15 2,424.33 14,541.29 79,108.30 2,939.96 -689,582.21
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-1,018,945.87 1,169,580.20 -131,924.47 -670,872.35
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
1,586,848.84 -1,421,629.76 -505,653.27
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-60,053.59 6,306,578.09 20,122,562.96 -8,091,851.62 -674,763.51
Total changes in net assets
17,096,819.06
Total net assets at the beginning of the period
68,066,793.63
Total net assets at the end of the period
85,163,612.69
The accompanying notes are an integral part of these financial statements.
Page 312
UBAM - MULTIFUNDS ALLOCATION 70
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
22,832,733.17
Securities portfolio at market value Cash at banks Formation expenses, net Other receivables
Note 2
21,254,665.50 1,574,701.53 2,694.34 671.80
Note 2
Liabilities
1,163,439.22
Bank liabilities Payable on purchases of securities Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
42,676.07 863,532.18 166,274.15 90,956.82
Note 2, 8
Net assets at the end of the period
21,669,293.95
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
AH EUR shares
Capitalisation shares Distribution shares
AH GBP shares
Capitalisation shares Distribution shares
I shares
Capitalisation shares
U shares
Distribution shares
Shares outstanding as at 01/01/2016
Shares issued
76,313.048
5,300.000
12,135.000
69,478.048
0.000
9,668.000
10.000
9,658.000
50,725.000
4,176.000
9,418.000
45,483.000
0.000
25,435.000
70.000
25,365.000
8,290.288
637.388
2,840.000
6,087.676
387.003
710.000
187.003
910.000
29,644.000
935.000
24,470.000
6,109.000
6,000.000
0.000
0.000
6,000.000
The accompanying notes are an integral part of these financial statements.
Page 313
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - MULTIFUNDS ALLOCATION 70 Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
AH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
U shares Distribution shares Number of shares outstanding Net asset value per share Dividend per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
21,669,293.95
22,434,722.01
22,637,890.17
USD
USD
USD
69,478.048 134.68
76,313.048 137.78
77,205.405 142.60
9,658.000 103.67
-
-
EUR
EUR
EUR
45,483.000 123.48
50,725.000 127.16
61,909.000 132.10
25,365.000 101.39
-
-
GBP
GBP
GBP
6,087.676 115.08
8,290.288 118.33
8,684.894 122.40
910.000 115.89 0.66
387.003 119.84 -
387.003 123.96 -
USD
USD
USD
6,109.000 93.23
29,644.000 95.03
-
USD
USD
USD
6,000.000 94.54 0.53
6,000.000 97.01 -
-
The accompanying notes are an integral part of these financial statements.
Page 314
UBAM - MULTIFUNDS ALLOCATION 70 Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Market value
% of total net assets
21,447,344.64
21,254,665.50
98.09
21,447,344.64
21,254,665.50
98.09
EUR EUR EUR EUR
3,425,406.55 803,430.74 1,087,463.76 852,104.58 682,407.47
3,208,596.51 802,578.05 969,919.34 779,692.19 656,406.93
14.81 3.70 4.48 3.60 3.03
JPY
715,158.89 715,158.89
700,553.37 700,553.37
3.23 3.23
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
17,306,779.20 576,528.36 922,390.71 592,078.06 1,078,201.24 430,560.00 876,824.38 412,592.84 263,968.02 900,618.82 767,628.74 812,608.40 726,386.80 1,128,703.81 601,281.91 759,896.78 616,949.96 616,398.92 1,378,782.17 1,183,947.50 1,317,994.20 292,944.58 1,049,493.00
17,345,515.62 580,253.20 957,812.00 555,560.00 1,040,700.00 387,690.00 781,200.00 401,065.00 315,956.70 944,460.00 794,880.00 839,325.00 710,979.80 1,101,200.00 575,890.00 767,887.00 647,972.00 634,260.00 1,434,071.10 1,204,446.20 1,297,147.60 316,435.02 1,056,325.00
80.05 2.68 4.42 2.56 4.80 1.79 3.61 1.85 1.46 4.36 3.67 3.87 3.28 5.08 2.66 3.54 2.99 2.93 6.62 5.56 5.99 1.46 4.87
21,447,344.64
21,254,665.50
98.09
1,532,025.46
7.07
Other net assets/(liabilities)
-1,117,397.01
-5.16
Total
21,669,293.95
100.00
Description
Currency
Open-ended investment funds Investment funds (UCITS) 35,500 900 465,000 183,837
Euro
COMGEST GROWTH EUROPE FUND ELEVA EURO SELECTION -I (EUR) CAP FP ARGO EUR ALP-I- INSTIT EUR J O HAMBRO CAP MGT UMBRELLA FD PLC EUROPEAN SELECT VAL ISTL
Japanese Yen
70,800 BA GI WO JAPAN ACC PTG CL-B-JPY 460 460 17,000 7,500 3,000 8,400 3,500 5 22,000 7,200 7,500 71,000 1,000,000 1,900 7,300 22,100 22,000 330 106,000 5,780 2,200 14,500
US Dollar
AMUNDI ABS VOLATILITY WORLD EQ -IU- CAP AMUNDI BOND GLOBAL AGGREGATE -IU- CAP COMGEST GRW EMRG MR ACC CLASS -I- USD ED L SE US SEL GRW USD ZIC CAP GLG JP CORALPHA EQUITY -I H- USD GLG MAN EM EQ ACC CL. -I- USD GS GLOB STR INCOME BD PTF I ACC H2O MULTIBONDS FCP -HI- USD 4 DEC ISH S&P 500 MIN USD USD ETF JPMF AGGR BD -JPM C (DIST) USD- DIS LEGG WE MAC OP -X- USD MACQUARIE S AS ALL S C USD CAP MAJEDIE US EQ Z/US NIFLI US SMALL VALUE I/A(USD)- CAP PICTET-ARFI -I USD- CAP PIMCO GLB INVR SERIES GLOBAL BD -INSPIMCO GLB INVR SR HY BD -INS- CAP PION US FD GR UNITS -I- CAP PRI DELAW US LCV USD I UNH CAP ROBECO CAPITAL GROWTH FDS US PREMIUM EQUITIES I USD CAP VAN GLB BON IND WELLINGTON MGT PTF US RSH EQ -S- USD CAP
Total investments in securities Cash at banks/(bank liabilities)
The accompanying notes are an integral part of these financial statements.
Page 315
Cost
UBAM - MULTIFUNDS ALLOCATION 70
Geographical classification of investments (by domicile of the issuer) Luxembourg Ireland United Kingdom France
% of net assets 54.42 38.61 3.60 1.46 98.09
Industrial classification of investments % of net assets 98.09
Investment funds
98.09
Page 316
UBAM - MULTIFUNDS ALLOCATION 70 Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
3,598.47
Dividends, net Interest on bank accounts Other income
Note 2
Expenses
2,683.56 235.38 679.53 217,883.36
Amortisation of formation expenses Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
5,758.39 151,188.66 10,485.24 2,666.66 10,594.40 206.75 26.39 2,370.48 11,192.65 22,210.22 1,183.52 -214,284.89
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-709,814.97 341,310.14 -92,108.61 -674,898.33
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
427,774.54 -372,357.31 -619,481.10
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
Total changes in net assets
-4,229.88 1,438,218.94 3,921,767.82 -5,463,884.06 -37,819.78 -765,428.06
Total net assets at the beginning of the period
22,434,722.01
Total net assets at the end of the period
21,669,293.95
The accompanying notes are an integral part of these financial statements.
Page 317
UBAM - MULTIFUNDS ALTERNATIVE
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
172,132,266.55
Securities portfolio at market value Cash at banks Formation expenses, net Receivable on issues of shares Other receivables
Note 2
153,653,623.10 17,641,795.78 3,110.39 827,196.37 6,540.91
Note 2
Liabilities
2,104,342.65
Bank liabilities Payable on redemptions of shares Unrealised loss on forward foreign exchange contracts Interest payable on bank liabilities and expenses payable
885,866.10 55,204.69 692,030.55 471,241.31
Note 2, 8
Net assets at the end of the period
170,027,923.90
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
AH EUR shares
Shares outstanding as at 01/01/2016
Shares issued
0.000
39,161.000
Shares redeemed
0.000
Shares outstanding as at 30/06/2016
39,161.000
Capitalisation shares
0.000
600.000
0.000
600.000
Distribution shares
0.000
35,339.000
1,477.000
33,862.000
15,750.000
57,845.000
0.000
73,595.000
10,500.000
28,183.000
0.000
38,683.000
Capitalisation shares
4,370.000
0.000
0.000
4,370.000
Distribution shares
1,657.005
1,199.000
0.000
2,856.005
366,389.705
809,367.682
94,977.508
1,080,779.879
3,170.000
87,443.000
6,529.000
84,084.000
261,053.169
34,494.886
52,968.731
242,579.324
25,038.000
25,048.000
3,752.000
46,334.000
10.000
0.000
0.000
10.000
I shares
Capitalisation shares
IH EUR shares
Capitalisation shares
IH GBP shares
U shares
Capitalisation shares Distribution shares
UH EUR shares
Capitalisation shares
UH GBP shares
Distribution shares
R shares
Capitalisation shares
The accompanying notes are an integral part of these financial statements.
Page 318
UBAM - MULTIFUNDS ALTERNATIVE Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
AH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
IH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
IH GBP shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
U shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share
UH EUR shares Capitalisation shares Number of shares outstanding Net asset value per share
UH GBP shares Distribution shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
170,027,923.90
75,853,157.06
57,840,829.51
USD
USD
USD
39,161.000 99.97
-
-
EUR
EUR
EUR
600.000 98.77
-
-
33,862.000 98.89
-
-
USD
USD
USD
73,595.000 96.21
15,750.000 99.50
-
EUR
EUR
EUR
38,683.000 95.60
10,500.000 99.26
-
GBP
GBP
GBP
4,370.000 95.45
4,370.000 98.97
-
2,856.005 106.38
1,657.005 110.30
7,353.778 107.07
USD
USD
USD
1,080,779.879 100.25
366,389.705 103.79
229,696.521 101.26
84,084.000 96.45
3,170.000 99.87
-
EUR
EUR
EUR
242,579.324 101.89
261,053.169 105.90
220,819.479 103.61
GBP
GBP
GBP
46,334.000 100.99
25,038.000 104.83
35,646.969 101.98
The accompanying notes are an integral part of these financial statements.
Page 319
UBAM - MULTIFUNDS ALTERNATIVE Key figures relating to the last 3 years Period/Year ended as at:
Total net assets R shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
170,027,923.90
75,853,157.06
57,840,829.51
USD
USD
USD
10.000 93.46
10.000 97.46
-
The accompanying notes are an integral part of these financial statements.
Page 320
UBAM - MULTIFUNDS ALTERNATIVE Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Market value
% of total net assets
153,475,486.11
153,653,623.10
90.37
153,475,486.11
153,653,623.10
90.37
EUR EUR EUR
16,475,507.34 6,020,035.42 7,783,107.59 2,672,364.33
15,747,859.14 5,950,136.81 7,495,057.85 2,302,664.48
9.26 3.50 4.41 1.35
GBP
270,981.27 270,981.27
224,033.92 224,033.92
0.13 0.13
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
136,728,997.50 5,371,703.19 6,987,091.93 6,546,466.69 8,000,000.01 7,891,409.70 8,700,000.00 2,521,567.56 12,405,647.06 3,700,000.00 2,738,487.89 6,778,786.31 5,700,000.04 7,040,946.90 6,514,393.72 6,000,000.00 3,999,999.94 2,463,983.94 3,450,000.62 12,199,521.19 2,017,545.74 9,663,313.94 6,036,139.53 1,991.60
137,681,730.04 5,206,394.70 6,941,649.00 6,530,424.42 7,798,641.82 8,228,820.72 8,737,385.97 2,636,124.90 13,040,919.01 3,735,043.30 2,850,311.40 7,927,779.58 5,530,539.19 7,068,834.90 6,449,841.45 5,927,382.00 3,628,467.87 2,317,949.14 3,220,718.21 11,900,179.83 2,081,863.22 10,044,891.14 5,875,576.67 1,991.60
80.98 3.06 4.08 3.84 4.59 4.84 5.14 1.55 7.68 2.20 1.68 4.66 3.25 4.16 3.79 3.49 2.13 1.36 1.89 7.00 1.22 5.91 3.46 0.00
153,475,486.11
153,653,623.10
90.37
16,755,929.68
9.85
-381,628.88
-0.22
170,027,923.90
100.00
Currency
Open-ended investment funds Investment funds (UCITS) Euro
268,466 JPMF HIGH EUR STEEP JPM C PERF EUR CAP 68,653 MLIS FEN EQ LSU -EUR D- CAP 12,950 SCHRODER GAIA VAR EGERTON EQ -C- CAP
Pound Sterling
1,170 SCHRODER GAIA EGERTON EQUITY 28,316 572 6,123 657,375 79,606 89,118 25,216 1,950,131 33,711 25,149 46,511 51,057 70,190 4,221,653 60,000 41,919 23,554 33,344 976,417 15,098 73,147 58,241 1,992
US Dollar
CONVENTUM SICAV LYRICAL -I- CAP EXANE FUNDS 1 ARCHIMEDES -A- CAP FUNDLO IPM SYSTEMATIC MARCO -I- USD GAM STAR FD PLC GAM STAR GLB RATES -USDGFS TREND MAC -A- USD ACC GFS U ACCES ELEC GLB UTI -F- USD ACCUM GFS UCITS FD PLC TREND MACRO CLASS F USD HGF UK AR -I USD CAP HEDGEDLN II LYX/WNT PTG. -I-USD LYXOR NEWCITS II LYX/WNT SHS -EB- USD MARSHALL WACE TOPS -A- USD CAP ML INV OCH-ZIFF EUR MS-USD BMLIS PAS CAP GL EQ L/S U USD B CAP OM GLB EQ ABS CAP -I- USD PORT H EU LS -C USD- CAP R PARUS FUND I USD S GAIA BITR -E- CAP S GAIA BLUE TREND C CAP S LIF IG GARS -D-USD HEDGED- CAP SCHRODER GAIA EGERTON EQ -A-USD HDG CAP SERVICED PLATFORM SEL EQ L/S S-F I SYSTEMATICA UCITS BLUEMATRIX A USD SYST.UCITS BLUEMATRIX A USD(SPECIAL UBP)
Total investments in securities Cash at banks/(bank liabilities) Other net assets/(liabilities) Total
The accompanying notes are an integral part of these financial statements.
Page 321
Cost
UBAM - MULTIFUNDS ALTERNATIVE
Geographical classification of investments (by domicile of the issuer) Luxembourg Ireland
% of net assets 52.49 37.88 90.37
Industrial classification of investments % of net assets 90.37
Investment funds
90.37
Page 322
UBAM - MULTIFUNDS ALTERNATIVE Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
14,885.59
Interest on bank accounts Other income
349.67 14,535.92
Expenses
811,625.51
Amortisation of formation expenses Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
6,664.96 519,173.65 67,758.51 17,372.34 65,199.84 1,688.53 2,211.69 2,873.68 6,214.07 119,357.23 3,111.01 -796,739.92
Net realised gain/(loss) on: - securities portfolio - forward foreign exchange contracts - foreign exchange
Note 2 Note 2 Note 2
Realised result
-239,840.59 1,294,498.81 47,306.46 305,224.76
Net variation of the unrealised gain/(loss) on: - securities portfolio - forward foreign exchange contracts
Note 2 Note 2
Result of operations
-2,185,048.00 -1,368,536.63 -3,248,359.87
Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
98,262,051.72 16,196,267.45 -15,680,928.06 -1,354,264.40
Total changes in net assets
94,174,766.84
Total net assets at the beginning of the period
75,853,157.06
Total net assets at the end of the period
170,027,923.90
The accompanying notes are an integral part of these financial statements.
Page 323
UBAM - ASYMMETRY 50 EUR
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in EUR
Assets
114,822,312.48
Securities portfolio at market value Cash at banks Deposits on futures and option contracts Dividends receivable
Note 2
101,943,584.05 9,506,308.78 3,276,779.97 95,639.68
Liabilities
1,741,013.21
Short option contracts at market value Unrealised loss on forward foreign exchange contracts Unrealised loss on futures contracts Interest payable on bank liabilities and expenses payable
Note 2, 11 Note 2, 8 Note 2, 9
411,134.61 986,964.58 113,443.45 229,470.57
Net assets at the end of the period
113,081,299.27
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares
A USD shares
Capitalisation shares
A CHF shares
Capitalisation shares
AP shares
Capitalisation shares
I shares
Capitalisation shares
I USD shares
Capitalisation shares
I CHF shares
Capitalisation shares
U shares
Distribution shares
R shares
Capitalisation shares
M shares
Capitalisation shares
MP shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
543,425.624
6,564.000
189,663.000
360,326.624
18,113.000
3,200.000
5,815.000
15,498.000
18,900.000
350.000
18,900.000
350.000
76,856.000
816.000
3,917.000
73,755.000
4,785.000
10,640.000
3,440.000
11,985.000
1,000.000
0.000
1,000.000
0.000
1,000.000
3,500.000
1,500.000
3,000.000
3,330.000
1,936.000
35.000
5,231.000
10.000
0.000
0.000
10.000
316,814.658
490.000
93,500.840
223,803.818
86,555.000
0.000
22,600.000
63,955.000
The accompanying notes are an integral part of these financial statements.
Page 324
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - ASYMMETRY 50 EUR Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
Z shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
418,688.411
56,401.000
Shares redeemed
65,116.000
Shares outstanding as at 30/06/2016
409,973.411
Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share
A USD shares Capitalisation shares Number of shares outstanding Net asset value per share
A CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
I USD shares Capitalisation shares Number of shares outstanding Net asset value per share
I CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
113,081,299.27
144,711,457.67
60,773,730.04
EUR
EUR
EUR
360,326.624 98.85
543,425.624 99.25
193,782.000 104.12
USD
USD
USD
15,498.000 86.96
18,113.000 85.37
13,903.000 99.76
CHF
CHF
CHF
350.000 99.95
18,900.000 88.60
10,700.000 102.76
EUR
EUR
EUR
73,755.000 98.75
76,856.000 99.03
21,853.000 103.88
EUR
EUR
EUR
11,985.000 100.94
4,785.000 101.00
360.000 105.17
USD
USD
USD
-
1,000.000 89.42
-
CHF
CHF
CHF
3,000.000 99.89
1,000.000 92.34
-
The accompanying notes are an integral part of these financial statements.
Page 325
UBAM - ASYMMETRY 50 EUR Key figures relating to the last 3 years Period/Year ended as at:
Total net assets U shares Distribution shares Number of shares outstanding Net asset value per share
R shares Capitalisation shares Number of shares outstanding Net asset value per share
M shares Capitalisation shares Number of shares outstanding Net asset value per share
MP shares Capitalisation shares Number of shares outstanding Net asset value per share
Z shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
EUR
EUR
EUR
113,081,299.27
144,711,457.67
60,773,730.04
EUR
EUR
EUR
5,231.000 100.67
3,330.000 100.84
-
EUR
EUR
EUR
10.000 91.35
10.000 91.99
-
EUR
EUR
EUR
223,803.818 100.57
316,814.658 100.54
265,437.925 104.48
EUR
EUR
EUR
63,955.000 100.32
86,555.000 100.21
81,665.000 104.04
EUR
EUR
EUR
409,973.411 92.68
418,688.411 92.41
-
The accompanying notes are an integral part of these financial statements.
Page 326
UBAM - ASYMMETRY 50 EUR Statement of investments and other net assets as at 30/06/2016 Expressed in EUR Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
US Dollar
171,190 ISHS PHY MET (COMDTY GOLD)
USD
Open-ended investment funds
Cost
Market value
% of total net assets
3,877,577.66
4,017,213.47
3.55
3,877,577.66
4,017,213.47
3.55
3,877,577.66 3,877,577.66
4,017,213.47 4,017,213.47
3.55 3.55
93,917,913.92
97,926,370.58
86.60
Investment funds (UCITS)
93,917,913.92
97,926,370.58
86.60
Canadian Dollar
CAD
1,664,154.92 1,664,154.92
1,658,684.23 1,658,684.23
1.47 1.47
EUR EUR EUR EUR EUR EUR EUR EUR
41,463,886.40 5,493,238.79 3,138,920.66 8,907,812.91 4,505,576.42 8,480,853.68 3,450,138.91 6,234,439.90 1,252,905.13
42,977,946.18 5,607,852.00 3,349,467.50 9,506,521.50 4,702,761.20 8,758,847.28 3,503,388.00 6,297,264.70 1,251,844.00
38.01 4.96 2.96 8.40 4.16 7.75 3.10 5.57 1.11
USD USD USD USD USD USD USD USD USD USD USD USD USD USD
50,789,872.60 1,239,632.50 1,156,507.28 4,598,392.23 5,368,335.86 1,672,190.94 4,446,593.83 5,725,877.16 9,037,665.80 3,488,747.23 3,703,151.23 1,688,541.34 1,254,923.01 1,744,090.26 5,665,223.93
53,289,740.17 1,274,584.81 1,187,142.54 4,752,995.18 5,985,546.02 1,848,890.59 4,580,056.71 5,968,994.10 9,436,815.34 3,694,391.29 3,856,021.87 1,689,209.69 1,231,584.45 1,836,428.28 5,947,079.30
47.12 1.13 1.05 4.20 5.29 1.64 4.05 5.28 8.34 3.27 3.41 1.49 1.09 1.62 5.26
-806,698.48
-411,134.61
-0.36
-806,698.48
-411,134.61
-0.36
-806,698.48 -806,698.48
-411,134.61 -411,134.61
-0.36 -0.36
96,988,793.10
101,532,449.44
89.79
Cash at banks/(bank liabilities)
9,506,308.78
8.41
Other net assets/(liabilities)
2,042,541.05
1.81
113,081,299.27
100.00
67,280 UBS ETF SICAV MSCI CANADA
Euro
149,145 13,250 44,450 37,580 55,700 26,850 43,070 50,600
ISH MSCI EU MI EUR EUR ETF ISHARES II BARLCLAYS K EUR GOV BD 15-13 ISHARES II PLC EURO GOVERNMENT BOND 7-10 ISHARES III BARCLAYS EUR AGGREGATE BD ISHARES III BARCLAYS K EUR GOV BD 5-7 ISHARES III PLC BARCLAYS EUR CORP BD UBAM GLOBAL HIGH YIELD SOL -IH- CAP EUR* UBS ETF SICAV MSCI CANADA
147,500 616,000 26,000 154,895 85,000 156,850 31,800 92,450 61,700 36,350 16,500 49,350 27,750 60,650
DB X-TR - MSCI INDIA TRN IND ETF DB X-TR MSCI PHILIPPINES IM TRN IDX ETF EUROPEAN EXC TRD PLC ISHARES USD TIPS ISH S&P 500 MIN USD USD ETF ISHARES BRAZIL UCITS ETF (DIST) ISHARES EMERGING MARKETS UCITS ETF (DIST ISHARES II BARCLAYS K US TREASURY BD7-10 ISHARES II PLC JP MORGAN USD EME MKT BD ISHARES III EMERGING MKT LOCAL GOV BD ISHARES PLC USD CORPORATE BOND ISHS III GL GOV BD UC ETF ISHS MSCI AUST - ACC ETF USD ISHS MSCI RUSSIA ADR/GDR UCITS ETF LIF USD LIGC C USD CAP ETF
US Dollar
Derivative instruments Options US Dollar
-70 SP 500
DEC 2000 16.12.16 PUT
USD
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 327
UBAM - ASYMMETRY 50 EUR
Geographical classification of investments (by domicile of the issuer) Ireland Luxembourg United States of America
% of net assets 74.56 15.59 -0.36 89.79
Industrial classification of investments % of net assets 86.60 3.19
Investment funds Holding and finance companies
89.79
Page 328
UBAM - ASYMMETRY 50 EUR Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in EUR
Income
539,548.74
Dividends, net Interest on bank accounts
Note 2
Expenses
533,724.18 5,824.56 710,536.28
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5
Note 2 Note 6, 7
Net investment loss
378,053.88 86,602.56 17,130.51 63,193.10 1,209.12 13,545.52 3,229.14 89,418.16 53,393.65 4,760.64 -170,987.54
Net realised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - futures contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-2,354,382.25 -210,444.73 677,266.09 -1,164,820.64 -280,162.35 -3,503,531.42
Net variation of the unrealised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - futures contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
2,681,640.94 890,183.00 -762,674.33 -113,443.45 -807,825.26
Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
7,571,165.00 192,105.61 -38,582,164.65 -3,439.10
Total changes in net assets
-31,630,158.40
Total net assets at the beginning of the period
144,711,457.67
Total net assets at the end of the period
113,081,299.27
The accompanying notes are an integral part of these financial statements.
Page 329
UBAM - ASYMMETRY 50 USD
Financial Statements as at 30/06/2016 Statement of net assets as at 30/06/2016 Expressed in USD
Assets
70,424,797.43
Securities portfolio at market value Cash at banks Deposits on futures and option contracts Dividends receivable Unrealised gain on forward foreign exchange contracts
Note 2
64,047,655.87 3,698,545.54 2,491,770.95 115,567.48 71,257.59
Note 2, 8
Liabilities
426,640.13
Short option contracts at market value Unrealised loss on futures contracts Interest payable on bank liabilities and expenses payable
Note 2, 11 Note 2, 9
228,375.00 68,810.00 129,455.13
Net assets at the end of the period
69,998,157.30
Changes in number of shares outstanding from 01/01/2016 to 30/06/2016
A shares
Capitalisation shares Distribution shares
A CHF shares
Capitalisation shares
AP shares
Capitalisation shares
I shares
Capitalisation shares
M shares
Capitalisation shares Distribution shares
MP shares
Capitalisation shares
Z shares
Capitalisation shares
Shares outstanding as at 01/01/2016
Shares issued
262,131.376
14,813.395
78,163.456
198,781.315
9,810.000
0.000
490.000
9,320.000
1,300.000
0.000
545.000
755.000
58,153.000
2,101.000
5,211.000
55,043.000
10,000.000
0.000
10,000.000
0.000
185,311.000
0.000
35,298.000
150,013.000
9,480.000
12,302.000
0.000
21,782.000
2,000.000
0.000
0.000
2,000.000
265,941.923
52,981.000
22,857.000
296,065.923
The accompanying notes are an integral part of these financial statements.
Page 330
Shares redeemed
Shares outstanding as at 30/06/2016
UBAM - ASYMMETRY 50 USD Key figures relating to the last 3 years Period/Year ended as at:
Total net assets A shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
A CHF shares Capitalisation shares Number of shares outstanding Net asset value per share
AP shares Capitalisation shares Number of shares outstanding Net asset value per share
I shares Capitalisation shares Number of shares outstanding Net asset value per share
M shares Capitalisation shares Number of shares outstanding Net asset value per share Distribution shares Number of shares outstanding Net asset value per share Dividend per share
MP shares Capitalisation shares Number of shares outstanding Net asset value per share
Z shares Capitalisation shares Number of shares outstanding Net asset value per share
30/06/2016
31/12/2015
30/06/2014
USD
USD
USD
69,998,157.30
75,940,253.10
22,833,700.55
USD
USD
USD
198,781.315 96.16
262,131.376 95.31
121,455.000 103.20
9,320.000 95.95 0.48
9,810.000 95.59 -
1,090.000 103.50 -
CHF
CHF
CHF
755.000 93.38
1,300.000 95.11
755.000 102.22
USD
USD
USD
55,043.000 96.17
58,153.000 95.21
7,795.000 102.97
USD
USD
USD
-
10,000.000 96.69
10.000 103.91
USD
USD
USD
150,013.000 97.81
185,311.000 96.53
85,028.351 103.56
21,782.000 101.29 0.50
9,480.000 100.45 -
-
USD
USD
USD
2,000.000 94.61
2,000.000 93.30
5,000.000 99.95
USD
USD
USD
296,065.923 93.07
265,941.923 91.61
-
The accompanying notes are an integral part of these financial statements.
Page 331
UBAM - ASYMMETRY 50 USD Statement of investments and other net assets as at 30/06/2016 Expressed in USD Number/ nom. value
Description
Currency
Transferable securities admitted to official stock exchange listing and/or dealt in on another regulated market Bonds
US Dollar
87,370 ISHS PHY MET (COMDTY GOLD)
USD
Open-ended investment funds
Cost
Market value
% of total net assets
2,163,224.85
2,277,735.90
3.25
2,163,224.85
2,277,735.90
3.25
2,163,224.85 2,163,224.85
2,277,735.90 2,277,735.90
3.25 3.25
59,591,025.41
61,769,919.97
88.25
Investment funds (UCITS)
59,591,025.41
61,769,919.97
88.25
Canadian Dollar
CAD
1,761,843.55 1,761,843.55
1,740,555.19 1,740,555.19
2.49 2.49
EUR
3,419,093.06 3,419,093.06
3,460,995.86 3,460,995.86
4.94 4.94
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
54,410,088.80 709,612.50 710,622.00 1,402,996.00 3,334,499.07 2,622,620.00 995,203.63 2,776,491.15 9,720,185.40 5,456,878.15 2,137,363.20 7,747,867.50 1,045,948.00 717,618.00 1,038,817.83 1,038,387.02 2,158,123.50 1,786,437.73 3,461,667.30 4,521,810.92 1,026,939.90
56,568,368.92 715,200.00 712,953.00 1,421,630.00 3,721,816.35 2,646,540.00 1,085,008.50 2,832,012.00 10,103,278.50 5,732,370.00 2,215,116.00 8,025,585.00 1,046,362.00 690,352.50 1,083,684.80 1,065,346.50 2,205,933.75 1,920,813.30 3,514,309.20 4,765,695.52 1,064,362.00
80.82 1.02 1.02 2.03 5.32 3.78 1.55 4.05 14.44 8.19 3.16 11.47 1.49 0.99 1.55 1.52 3.15 2.74 5.02 6.81 1.52
-448,000.00
-228,375.00
-0.33
-448,000.00
-228,375.00
-0.33
-448,000.00 -448,000.00
-228,375.00 -228,375.00
-0.33 -0.33
61,306,250.26
63,819,280.87
91.17
Cash at banks/(bank liabilities)
3,698,545.54
5.28
Other net assets/(liabilities)
2,480,330.89
3.54
69,998,157.30
100.00
63,550 UBS ETF SICAV MSCI CANADA
Euro
82,855 ISH MSCI EU MI EUR EUR ETF 74,500 333,000 7,000 86,695 26,000 44,900 87,300 48,450 50,550 33,300 68,100 9,200 24,900 14,740 9,950 20,250 11,980 23,410 25,820 8,450
US Dollar
DB X-TR - MSCI INDIA TRN IND ETF DB X-TR MSCI PHILIPPINES IM TRN IDX ETF EUROPEAN EXC TRD PLC ISHARES USD TIPS ISH S&P 500 MIN USD USD ETF ISH USD SH DUR ETF ISHARES BRAZIL UCITS ETF (DIST) ISHARES EMERGING MARKETS UCITS ETF (DIST ISHARES II BARCLAYS K US TREASURY BD7-10 ISHARES II PLC JP MORGAN USD EME MKT BD ISHARES III EMERGING MKT LOCAL GOV BD ISHARES PLC USD CORPORATE BOND ISHS III GL GOV BD UC ETF ISHS MSCI AUST - ACC ETF USD ISHS MSCI RUSSIA ADR/GDR UCITS ETF ISHS US AGG BD - ETF USD LIF USD LIGC C USD CAP ETF LYXOR UCITS ETF TREASURY 10Y+DR UBAM GLOBAL HIGH YIELD SOLUTION -I- CAP* VANGUARD US GOVERN.BOND INDEX-INVESTOR XMTCH (IE) ON IBOXX USD GOV 3-7 ETF USD
Derivative instruments Options US Dollar
-35 SP 500
DEC 2000 16.12.16 PUT
USD
Total investments in securities
Total
The accompanying notes are an integral part of these financial statements.
Page 332
UBAM - ASYMMETRY 50 USD
Geographical classification of investments (by domicile of the issuer) Ireland Luxembourg France United States of America
% of net assets 76.06 12.70 2.74 -0.33 91.17
Industrial classification of investments % of net assets 88.25 2.92
Investment funds Holding and finance companies
91.17
Page 333
UBAM - ASYMMETRY 50 USD Statement of operations and other changes in net assets from 01/01/2016 to 30/06/2016 Expressed in USD
Income
370,291.91
Dividends, net Interest on bank accounts
Note 2
Expenses
366,573.52 3,718.39 388,939.62
Management fees Custodian fees Subscription duty ("taxe d'abonnement") Central administration costs Performance fees Audit fees Interest paid on bank liabilities Legal fees Transaction fees Other administration costs Other expenses
Note 3 Note 5 Note 4
Note 2 Note 6, 7
Net investment loss
202,262.50 50,002.10 9,628.47 36,044.58 121.16 722.98 8,818.79 468.50 47,929.59 29,678.36 3,262.59 -18,647.71
Net realised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - futures contracts - foreign exchange
Note 2 Note 2 Note 2 Note 2 Note 2
Realised result
-1,444,835.41 -162,728.78 -641,841.02 -603,007.53 418,638.32 -2,452,422.13
Net variation of the unrealised gain/(loss) on: - securities portfolio - option contracts - forward foreign exchange contracts - futures contracts
Note 2 Note 2 Note 2 Note 2
Result of operations
2,639,566.44 464,320.62 134,840.11 -68,810.00 717,495.04
Dividends paid Subscriptions capitalisation shares Subscriptions distribution shares Redemptions capitalisation shares Redemptions distribution shares
Note 14
-10,723.10 6,431,073.81 1,230,389.94 -14,264,599.79 -45,731.70
Total changes in net assets
-5,942,095.80
Total net assets at the beginning of the period
75,940,253.10
Total net assets at the end of the period
69,998,157.30
The accompanying notes are an integral part of these financial statements.
Page 334
UBAM
Notes to the financial statements as at 30th June 2016 Note 1 - General Information UBAM (hereinafter the "SICAV") is a variable capital investment company incorporated in Luxembourg on 6th December 1990 in accordance with the legislation of the Grand Duchy of Luxembourg, subject to Part I of the law of 17th December 2010 relating to undertakings for collective investment (the "2010 Law"), as amended. The objective of the SICAV is to offer its shareholders the possibility to invest in an investment vehicle oriented towards the growth of capital invested in various transferable securities. The SICAV offers investors a choice between various sub-funds, each having different investment objectives. Each sub-fund constitutes a distinct set of assets, represented by different classes of shares. The SICAV thus constitutes a company with multiple sub-funds. The Board of Directors may at any time and in conformity with the articles of incorporation, issue classes of shares falling within other sub-funds, whose investment aims differ from those of already existing sub-funds. At closing date, the following sub-funds are active: - UBAM - CORPORATE EURO BOND - UBAM - CORPORATE US DOLLAR BOND - UBAM - DYNAMIC EURO BOND - UBAM - DYNAMIC US DOLLAR BOND - UBAM - EMERGING MARKET BOND - UBAM - EMERGING MARKET CORPORATE BOND - UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND - UBAM - EURO BOND - UBAM - GLOBAL AGGREGATE BOND (formerly UBAM - GLOBAL BOND) (1) -.UBAM - GLOBAL CREDIT OPPORTUNITIES - UBAM - GLOBAL HIGH YIELD SOLUTION - UBAM - LOCAL CURRENCY EMERGING MARKET BOND - UBAM - STERLING BOND - UBAM - UNCONSTRAINED BOND - UBAM - US DOLLAR BOND - UBAM - EM INVESTMENT GRADE CORPORATE BOND - UBAM - EUROPEAN CONVERTIBLE BOND - UBAM - EURO 10-40 CONVERTIBLE BOND - UBAM - GLOBAL CONVERTIBLE BOND -.UBAM - GLOBAL 10-40 CONVERTIBLE BOND -.UBAM - SRI EUROPEAN CONVERTIBLE BOND - UBAM - 30 GLOBAL LEADERS EQUITY - UBAM - ADAMS US SMALL CAP EQUITY - UBAM - ASIA EQUITY - UBAM - DR. EHRHARDT GERMAN EQUITY - UBAM - EUROPE EQUITY - UBAM - EUROPE EQUITY DIVIDEND+ - UBAM - EUROPE EQUITY FLEX - UBAM - EUROPEAN OPPORTUNITIES EQUITY - UBAM - GCM MIDCAP US EQUITY GROWTH - UBAM - GLOBAL EMERGING EQUITY - UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH (formerly UBAM - GLOBAL EQUITY) (1) - UBAM - GLOBAL EQUITY INCOME - UBAM - IFDC JAPAN OPPORTUNITIES EQUITY - UBAM - AJO US EQUITY VALUE (formerly UBAM - NEUBERGER BERMAN US EQUITY VALUE) (1) - UBAM - RUSSIAN EQUITY - UBAM - SNAM JAPAN EQUITY VALUE - UBAM - SWISS EQUITY - UBAM - SWISS SMALL AND MID CAP EQUITY - UBAM - TURKISH EQUITY
Page 335
expressed in EUR expressed in USD expressed in EUR expressed in USD expressed in USD expressed in USD expressed in USD expressed in EUR expressed in USD expressed in EUR expressed in USD expressed in USD expressed in GBP expressed in EUR expressed in USD expressed in USD expressed in EUR expressed in EUR expressed in EUR expressed in EUR expressed in EUR expressed in USD expressed in USD expressed in USD expressed in EUR expressed in EUR expressed in EUR expressed in EUR expressed in EUR expressed in USD expressed in USD expressed in USD expressed in EUR expressed in JPY expressed in USD expressed in USD expressed in JPY expressed in CHF expressed in CHF expressed in USD
UBAM
Notes to the financial statements as at 30th June 2016 (continued) - UBAM - EURO EQUITY INCOME - UBAM - MULTIFUNDS ALLOCATION 30 - UBAM - MULTIFUNDS ALLOCATION 50 - UBAM - MULTIFUNDS ALLOCATION 70 - UBAM - MULTIFUNDS ALTERNATIVE - UBAM - ASYMMETRY 50 EUR - UBAM - ASYMMETRY 50 USD (1)
expressed in EUR expressed in USD expressed in USD expressed in USD expressed in USD expressed in EUR expressed in USD
This sub-fund’s denomination has been changed during the period, please refer to Note 18 for more details.
Types of shares Within each sub-fund, shareholders may be offered various Types of shares: - Type A shares; standard share class; - Type I shares, reserved exclusively for institutional investors who may subscribe on their own behalf or on behalf of third parties, who must also be institutional investors; - Type I+ shares, reserved exclusively for institutional investors who may subscribe on their own behalf or on behalf of third parties, who must also be institutional investors; for this Type I+, the minimum initial subscription amount is EUR/USD/CHF 25 million or equivalent. - Type R shares; retail share class; - Type U shares are only available for: • United Kingdom resident investors who purchase the shares directly or; • investors who indirectly purchase the shares through a business organisation located in the United Kingdom (such as a fund platform or wealth management firm) which provides fee based investment advisory services to investors under a separate investment management agreement; and which are pre-approved by the General Distributor, Union Bancaire Privée, UBP SA or; • others investors having received a specific approval given by the Board of Directors; - Type M shares, only available for the Asset Allocation sub-funds, which are reserved for UBP clients who have signed a Discretionary Portfolio Management with Union Bancaire Privée, UBP SA or with any other member of the UBP Group; - Type V shares, only available for: • external (non UBP) banking groups or asset managers which entered into specific corporate restructuring transactions (mergers, acquisitions or joint ventures) with Union Bancaire Privée, UBP SA or any of its subsidiaries / branches and have received a specific approval given by the SICAV’s Board of Directors - Type Z shares, which are reserved for institutional investors who have signed a specific remuneration agreement with Union Bancaire Privée, UBP SA or with any other member of the UBP Group. Shares with performance fees The Types of shares which include the letter “P” in their name bear a performance fee. Shares in currencies other than the sub-fund's base currency Classes in currencies other than the base currency of each sub-fund will be offered in EUR/CHF/ USD/SEK/GBP (and ILS for UBAM - CORPORATE US DOLLAR BOND). Depending on the sub-fund, the currency risk for the shares denominated EUR/CHF/USD/SEK/GBP/ILS against the base currency of the sub-fund may or may not be hedged.
in
The hedged shares will be covered largely by hedging transactions. All the costs and risks resulting from hedging transactions against the EUR/CHF/USD/SEK/GBP/ILS will be borne by the shares denominated in these currencies respectively.
Page 336
UBAM
Notes to the financial statements as at 30th June 2016 (continued) The shares, hedged against currency risk, are denominated with the letter “H”. Depending of the concerned sub-funds, the objective of the hedging transactions is: - either to cover the exchange-related risks between the base currency of a sub-fund and the share's currency or; - to cover the exchange-related risks between the currencies of a the sub-fund’s underlying and the share’s currency (hence, some of these sub-funds also offer hedged share classes denominated in the base currency of the sub-funds). The table below details which hedging method is applied for concerned sub-funds: Sub-fund UBAM - GLOBAL AGGREGATE BOND (1) UBAM - 30 GLOBAL LEADERS EQUITY (1) UBAM - EUROPE EQUITY DIVIDEND+
Hedging method Hedging transactions aim to cover the exchange-related risks between the currencies of the sub-fund’s underlyings and the share’s currency.
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH (1) UBAM - SWISS EQUITY * All others sub-funds and shares
Hedging transactions aim to cover the exchange-related risks between the base currency of a sub-fund and the share’s currency.
* Only the CHF Hedged share class (1) Please refer to Note 18 for more details on events concerning this sub-fund.
Shares with Duration Hedging “Duration hedged shares” will allow investors to benefit from the management of the concerned sub-fund by limiting possible impacts linked to rate movements. The duration hedged shares are denominated with the letter “S”. During the 2015 financial period, the sub-funds concerned by Duration Hedging are UBAM - CORPORATE EURO BOND, UBAM - CORPORATE US DOLLAR BOND, UBAM - EMERGING MARKET BOND, UBAM - EMERGING MARKET CORPORATE BOND and UBAM - EM INVESTMENT GRADE CORPORATE BOND (1). (1)
Please refer to Note 18 for more details on events concerning this sub-fund.
Note 2 - Principal accounting methods a) Presentation of the financial statements The financial statements of the SICAV are prepared in accordance with the Luxembourg regulations relating to undertakings for collective investment and generally accepted accounting principles. b) Valuation of securities The valuation of any security and/or money market instrument traded or listed on a stock exchange is based on the last known price unless such price is not representative. The valuation of any security traded on another regulated market is based on the last available price. When securities held in the portfolio are not traded or listed on a stock exchange or another regulated market, or when the price determined in respect of securities listed or traded on a stock exchange or another regulated market is not representative of the real value of those securities, such securities are valued on the basis of probable sales estimated with caution and in good faith by the Board of Directors. Premiums received on the sale of options are recognised as liabilities and premiums paid on the purchase of options are carried as assets. Option contracts outstanding at the date of the report are valued at the last known price on the stock exchanges or regulated markets for that purpose. Page 337
UBAM
Notes to the financial statements as at 30th June 2016 (continued) The unrealised gain or loss is disclosed in the statement of net assets. Realised gains or losses and changes in unrealised gains or losses are disclosed in the statement of operations and other changes in net assets. Shares/Units in underlying open-ended investment funds are valued based on the net asset value available on the business day preceding the valuation date, provided said net asset value is dated on prior to the valuation date, after deducting any fees applicable. OTC options are marked to market based upon prices obtained from third party pricing agents. c) Net realised gains/(losses) on sales of securities of each sub-fund The net realised gains/(losses) on sales of securities are determined on the basis of the average cost of the securities sold and are recorded in the statement of operations and other changes in net assets. d) Acquisition cost of securities portfolio In each sub-fund, the cost of acquiring securities denominated in another currency than the currency of the sub-fund is converted into this currency at the exchange rate on the date of purchase. The cost of acquiring the SICAV’s securities portfolio is equal to the sum of the acquisition costs of the securities portfolio of each sub-fund, converted into EUR at the exchange rate prevailing at the date of the report. e) Futures contracts Futures contracts are posted off-balance sheet and valued at their last known price on the stock exchanges or regulated markets for that purpose. The unrealised gain or loss is disclosed in the statement of net assets. Realised gains or losses and changes in unrealised gains or losses are disclosed in the statement of operations and other changes in net assets. f) Swap contracts Swap contracts are posted off-balance sheet and their values are determined each day on a reliable basis and verified by a competent professional appointed by the SICAV (the calculation is done through the system Kondor, fed by the data coming from the independent provider “ICAP”), in line with market practices. The unrealised gain or loss is disclosed in the statement of net assets. Realised gains or losses and changes in unrealised gains or losses are disclosed in the statement of operations and other changes in net assets. Valuation of CDS (Credit Default Swaps) contracts is essentially depending on the issuer’s credit risk, this being defined via a spread listed in basis points. The interests to be received and to be paid on swap contracts are accrued for each net asset value calculation according to their rate, the coupon payments frequency and the maturity date of the contracts. An interest rate swap is a bilateral agreement in which each party agrees to exchange a series of interest payments for another series of interest payments (usually fixed/floating) based on notional amount that serves as a computation basis which is usually not exchanged. Interest rate swaps are marked to market at each net asset value calculation date. The unrealised gain or loss is disclosed in the statement of net assets. Realised gains or losses and changes in unrealised gains or losses are disclosed in the statement of operations and other changes in net assets. g) Forward foreign exchange contracts Forward foreign exchange contracts that have not matured on the valuation date are valued on the basis of the forward rates applicable on that date. Resulting unrealised gain or loss is disclosed in the statement of net assets. Realised gains or losses and changes in unrealised gains or losses are disclosed in the statement of operations and other changes in net assets. Page 338
UBAM
Notes to the financial statements as at 30th June 2016 (continued) h) Conversion of foreign currencies Bank balances, other net assets and liabilities and the valuation price of the securities portfolio expressed in currencies other than the currency of the sub-fund are converted into this currency at the exchange rate prevailing at the date of the report. Income and charges expressed in currencies other than the currency of the sub-fund are converted into this currency at the exchange rate prevailing on the date of the transaction. Exchange gains and losses are recorded in the statement of operations and other changes in net assets. i) Combined statements The various items appearing in the combined financial statements of the SICAV are equal to the sum of the corresponding items in the financial statements of each sub-fund and are drawn up in EUR. At the date of the report, the exchange rates prevailing are the following: 1
EUR
=
1.08230 0.83105 113.97240 1.11095
CHF GBP JPY USD
Swiss Franc Pound Sterling Japanese Yen US Dollar
j) Income Dividends are accounted at the ex-date. Interests are accounted on a prorata temporis basis and include amortization on zero coupon bonds. At the date of the report, several bonds held in certain sub-funds of the SICAV are valued using the “dirty price” methodology (i.e. price which includes the accrued interest since the last coupon payment). k) Receivable / payable on treasury transactions The caption "Receivable on treasury transactions" comprises time deposits matured, new borrowings and foreign exchange transactions not yet recorded under the caption "Cash at banks". The caption "Payable on treasury transactions" comprises new time deposits, maturities of borrowings and foreign exchange transactions not yet recorded under the caption "Cash at banks". For a sub-fund having "Receivable on treasury transactions" and "Payable on treasury transactions" at the date of the report, only the net amount is disclosed in the statement of net assets. l) Formation expenses Expenses in connection with the incorporation of the SICAV are amortised on a straight line basis over five years period. m) Transaction fees The transaction fees, i.e. fees charged by the brokers for securities transactions and similar transactions, are recorded separately in the statement of operations and other changes in net assets under the caption "Transaction fees". n) Revaluation difference Opening net assets are maintained at the closing exchange rate of the previous year. Exchange differences arising are included in the combined statement of operations and other changes in net assets for the period under "Revaluation difference".
Page 339
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Note 3 - Management fee UBP Asset Management (Europe) S.A., the Management Company, is in charge of the investment management of the SICAV. In consideration of its services, the Management Company receives an annual management fee payable quarterly and based on the average net assets of each Type of Shares of the various subfunds managed during the relevant quarter, in accordance with the table below:
Page 340
UBAM
Notes to the financial statements as at 30th June 2016 (continued) A (in %)
AP (in %)
I (in %)
IP (in %)
I+ (in %)
U (in %)
UP (in %)
R (in %)
RP (in %)
V (in %)
Bond sub-funds UBAM - CORPORATE EURO BOND
0.50
0.35
0.35
1.20
UBAM - CORPORATE US DOLLAR BOND
0.50
0.35
0.35
1.20
UBAM - DYNAMIC EURO BOND
0.30
0.15
0.15
0.40
UBAM - DYNAMIC US DOLLAR BOND
0.30
0.15
0.15
0.40
UBAM - EMERGING MARKET BOND
1.50
UBAM - EMERGING MARKET CORPORATE BOND
1.50
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND
1.50
0.75
0.50*
UBAM - EURO BOND
0.50
0.25
0.25*
1.00
UBAM - GLOBAL AGGREGATE BOND (1)
0.50
0.25
0.25*
1.00*
UBAM - GLOBAL CREDIT OPPORTUNITIES
1.10*
UBAM - GLOBAL HIGH YIELD SOLUTION
0.40
0.25
0.25
0.70
UBAM - LOCAL CURRENCY EMERGING MARKET BOND
1.50
0.75
0.75*
2.00
0.25*
1.00*
UBAM - STERLING BOND
0.50
UBAM - UNCONSTRAINED BOND
0.75
UBAM - US DOLLAR BOND
0.50
UBAM - EM INVESTMENT GRADE CORPORATE BOND (1)
0.75 0.825
0.80
0.75
0.80*
0.55*
0.50
0.25
(4)
1.30
0.50*
0.75*
0.80
(3)
0.50
2.00
0.75* 0.50
0.25
0.50
0.50*
2.00 2.00
0.50
0.25
1.50 0.18
1.00
0.25
0.25
1.00
0.55
0.50
1.45(5)
Feeder convertible bond sub-funds UBAM - EUROPEAN CONVERTIBLE BOND (2)
1.20
0.90
0.90
2.00
UBAM - EURO 10-40 CONVERTIBLE BOND (2)
0.90
0.60
0.60
1.80
1.20
0.90
0.90
2.00
1.00
0.70
0.70*
1.80
1.00
0.70
0.70
1.80*
UBAM - GLOBAL CONVERTIBLE BOND
(2)
UBAM - GLOBAL 10-40 CONVERTIBLE BOND
(2)
UBAM - SRI EUROPEAN CONVERTIBLE BOND (2) Equity sub-funds UBAM - 30 GLOBAL LEADERS EQUITY (1)
1.50
UBAM - ADAMS US SMALL CAP EQUITY (1)
1.50
UBAM - ASIA EQUITY
1.75
UBAM - DR. EHRHARDT GERMAN EQUITY
1.50
1.00
1.00*
2.50
UBAM - EUROPE EQUITY
1.50
1.00
0.75
2.00
UBAM - EUROPE EQUITY DIVIDEND+
1.50
1.00
0.65
2.00
UBAM - EUROPE EQUITY FLEX
1.60
1.30*
UBAM - EUROPEAN OPPORTUNITIES EQUITY
1.75
1.30*
UBAM - GCM MIDCAP US EQUITY GROWTH
1.50
1.00*
1.00
0.625*
1.00 1.30
1.00* 0.60
0.75
1.25
0.625*
1.00*
2.50 2.50
0.75
2.75
0.75
1.00*
0.75*
2.00
0.75*
1.25*
0.75
2.75*
1.00
2.50
1.00
UBAM - GLOBAL EMERGING EQUITY
1.50
1.25
1.00
0.80
1.00*
0.80*
2.50*
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH (1)
1.50
1.00
1.00
0.625
1.00*
0.625*
2.50*
UBAM - GLOBAL EQUITY INCOME
1.50
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY UBAM - AJO US EQUITY VALUE (1)
1.00* 1.50
2.50*
1.00* 1.00
1.00
2.50
1.25(6)
0.75(6)
0.75(6)
2.25(6)
UBAM - RUSSIAN EQUITY
1.75
1.25*
1.25*
2.50
UBAM - SNAM JAPAN EQUITY VALUE
1.50
1.00
0.75
2.50
UBAM - SWISS EQUITY
1.00
0.65
0.65
2.00
UBAM - SWISS SMALL AND MID CAP EQUITY
1.00
0.65
0.65
0.40
0.65
0.40*
2.50*
UBAM - TURKISH EQUITY
1.75
1.30*
1.25
0.75
1.00
0.75*
2.50
Feeder equity sub-fund Page 341
2.00
M (in %)
MP (in %)
UBAM
Notes to the financial statements as at 30th June 2016 (continued) A (in %) UBAM - EURO EQUITY INCOME (2)
AP (in %)
I (in %)
IP (in %)
I+ (in %)
U (in %)
UP (in %)
R (in %)
RP (in %)
V (in %)
M (in %)
1.50
1.00
0.75
2.00
UBAM - MULTIFUNDS ALLOCATION 30
1.00
0.60
0.60*
1.50*
0.30*
UBAM - MULTIFUNDS ALLOCATION 50
1.30
0.90
0.90*
2.00*
0.55*
UBAM - MULTIFUNDS ALLOCATION 70
1.50
1.00
1.00
2.50*
0.75*
UBAM - MULTIFUNDS ALTERNATIVE
1.60
0.80
0.80
2.20
MP (in %)
Fund of funds sub-funds
Asset allocation sub-funds UBAM - ASYMMETRY 50 EUR UBAM - ASYMMETRY 50 USD
1.25 1.25
1.00
0.75 (3)
1.00
0.75
0.50*
0.75
0.50*
2.00
0.50
0.35
0.50*
0.75*
0.50*
2.00*
0.50
0.35
* This type of shares has not been active during the period, the annual management fee presented is the maximum annual management fee set out in the prospectus. (1)
Please refer to Note 18 for more details on events concerning this sub-fund.
(2)
This sub-fund acts as Feeder in a Master-Feeder structure, please refer to Note 16 and "AGGREGATE CHARGES WITHIN MASTER-FEEDER STRUCTURES" in chapter of the prospectus dated April 2016, in order to obtain complete information about aggregate fees.
(3)
Class closed during the period.
(4)
1.30% until 1st June 2016.
(5)
1.80% until 1st June 2016.
(6)
Former rates until 16th March 2016: Type A Shares: 1.50% ; Type I Shares: 1.00% ; Type U Shares: 1.00% ; Type R Shares: 2.50%.
No management fee is levied for Type Z shares. When a sub-fund invests in shares of UCITS and/or other UCIs managed directly or indirectly by the SICAV or by a company with which it is affiliated through common management or control or by a direct or indirect stakeholding of more than 10% of the capital or voting rights, there will not be any duplication of management fees for the sub-fund and the UCITS or other UCIs concerned. For Master-Feeder structure, please refer to Note 16. Note 4 - Performance fee The fee will be equivalent to a percentage of the highest net return of the sub-fund and, respectively, of the class with respect to a reference index or a fixed rate of return. If this difference is negative or equal to zero, no performance fee will be paid by the sub-fund. The performance fee is payable annually in arrears at the end of each 12-month period (financial year), and is equivalent to a percentage of the net asset value earnings, when this is greater than the reference net asset value, the minimum return-rate, or the high-water mark of the benchmark index. The performance fee is calculated on the basis of the net asset value after all charges and management fees (but not the performance fee) have been deducted, and is modified to take into account subscriptions and redemptions.
Page 342
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Sub-fund *
Performance percentage *
Benchmark index or Minimum return rate per annum (Hurdle) *
UBAM - EMERGING MARKET CORPORATE BOND
20%
Hurdle 7%
UBAM - GLOBAL CREDIT OPPORTUNITIES
10%
EONIA
UBAM - UNCONSTRAINED BOND
20%
Eonia +1%
UBAM - 30 GLOBAL LEADERS EQUITY (1)
10%
MSCI AC World Net Return
UBAM - ASIA EQUITY
15%
Hurdle 10%
UBAM - EUROPE EQUITY FLEX
15%
MSCI Europe Equity Net Return
UBAM - EUROPEAN OPPORTUNITIES EQUITY
15%
MSCI Europe Equity Net Return
20%
MSCI Emerging Market TR
UBAM - GLOBAL EMERGING EQUITY UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH
(1)
10%
MSCI AC World Net Return
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY
15%
Hurdle 10%
UBAM - SNAM JAPAN EQUITY VALUE
20%
Tokyo SE (TOPIX) Total Return
UBAM - SWISS SMALL AND MID CAP EQUITY
20%
SPI EXTRA TR
UBAM - TURKISH EQUITY
20%
MSCI Turkey 10/40 IMI Daily Net TR USD
UBAM - ASYMMETRY 50 EUR
10%
Hurdle 5%
UBAM - ASYMMETRY 50 USD
10%
Hurdle 5%
* Only applicable for share classes having a letter “P” in their denomination (AP, IP, UP, RP or MP). (1)
Please refer to Note 18 for more details on events concerning this sub-fund.
During the period, performance fees accrued and presented in the caption "Performance fees" of the statement of operations and other changes in net assets are the following: Currency UBAM - EMERGING MARKET CORPORATE BOND (AP / IP only)
(1)
Performance fees
USD
18,025.72
UBAM - GLOBAL CREDIT OPPORTUNITIES (AP / IP only)
EUR
5,027.04
UBAM - UNCONSTRAINED BOND (AP / IP only)
EUR
73,236.74
UBAM - GLOBAL EMERGING EQUITY (AP / IP only)
USD
27,723.63
UBAM - ASYMMETRY 50 USD (AP / IP only)
USD
121.16
Please refer to Note 18 for more details on events concerning this sub-fund.
No performance has been recorded for the other sub-funds subject to a performance fee. Note 5 - Subscription duty ("taxe d’abonnement") The SICAV is subject in Luxembourg to an annual tax of 0.05%, for Types A, U and R shares, payable quarterly on the basis of the net assets of the SICAV as calculated at the end of the relevant quarter. The Types I, I+, M, V and Z shares benefit from a reduced "taxe d’abonnement" of 0.01% of the net asset value which is dedicated to that Type of shares. The net assets invested in collective investment undertakings subject to the "taxe d’abonnement" stipulated by Article 175 (a) of the amended Law of 2010 are exempt from the "taxe d’abonnement".
Page 343
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Note 6 - General distributor fee The Management Company delegated with the approval of the Board of Directors the general distribution functions to the former delegate of UBAM, Union Bancaire Privée, UBP SA, Genève, in reference to the agreement dated 1st December 2003. As remuneration for its services as general distributor, Union Bancaire Privée, UBP SA, Genève, receives an annual fee of 0.10% payable quarterly, calculated on the average net assets of Types A, U and R shares for the SICAV’s various sub-funds during the relevant quarter (except Type A shares of the sub-funds UBAM - DYNAMIC EURO BOND, UBAM - DYNAMIC US DOLLAR BOND and Type A , U and R shares of the sub-fund UBAM - UNCONSTRAINED BOND for which the effective rate is 0.05% and excluding the sub-funds UBAM - GLOBAL HIGH YIELD SOLUTION, UBAM - SWISS EQUITY and UBAM - SWISS SMALL AND MID CAP EQUITY for which no fee is foreseen). No fee is currently foreseen for the Types I, M, V and Z shares. These fees are recorded in the statement of operations and other changes in net assets under the item "Other administration costs" which is primarily composed of marketing fees and distribution fees. Note 7 - Marketing fee According to the agreement dated 1st December 2003, Union Bancaire Privée, UBP SA, Genève, is appointed as Marketing Agent. Union Bancaire Privée, UBP SA is responsible for the marketing and the promotion of the SICAV throughout and beyond Europe, as well as the coordination of the marketing activities between the local distributors. In remuneration for its services as marketing agent, Union Bancaire Privée, UBP SA, Genève, receives an annual fee payable quarterly and calculated on the average net assets of Types A, U and R shares for the SICAV’s various sub-funds during the relevant quarter (except for the sub-funds UBAM - GLOBAL HIGH YIELD SOLUTION, UBAM - SWISS EQUITY and UBAM - SWISS SMALL AND MID CAP EQUITY for which no fee is foreseen), in accordance with the following table. No fee is currently foreseen for the Types I, I+, M, V and Z shares. These fees are recorded in the statement of operations and other changes in net assets under the item "Other administration costs". Types A, U and R shares (in %) Bond sub-funds UBAM - CORPORATE EURO BOND
0.05
UBAM - CORPORATE US DOLLAR BOND
0.05
UBAM - DYNAMIC EURO BOND
0.05 (3)
UBAM - DYNAMIC US DOLLAR BOND
0.05 (3)
UBAM - EMERGING MARKET BOND
0.05
UBAM - EMERGING MARKET CORPORATE BOND
0.05
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND
0.05
UBAM - EURO BOND
0.05
UBAM - GLOBAL AGGREGATE BOND (1)
0.05
UBAM - GLOBAL CREDIT OPPORTUNITIES
0.05
UBAM - GLOBAL HIGH YIELD SOLUTION
0.00
UBAM - LOCAL CURRENCY EMERGING MARKET BOND
0.05
UBAM - STERLING BOND
0.05
UBAM - UNCONSTRAINED BOND
0.05
UBAM - US DOLLAR BOND
0.05
Page 344
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Types A, U and R shares (in %) UBAM - EM INVESTMENT GRADE CORPORATE BOND (1)
0.05
Feeder convertible bond sub-funds UBAM - EUROPEAN CONVERTIBLE BOND (2) UBAM - EURO 10-40 CONVERTIBLE BOND
0.05
(2)
0.05
UBAM - GLOBAL CONVERTIBLE BOND (2)
0.05
UBAM - GLOBAL 10-40 CONVERTIBLE BOND (2) UBAM - SRI EUROPEAN CONVERTIBLE BOND
0.05 (2)
0.05
Equity sub-funds UBAM - 30 GLOBAL LEADERS EQUITY (1) UBAM - ADAMS US SMALL CAP EQUITY
0.10 (1)
0.10
UBAM - ASIA EQUITY
0.10
UBAM - DR. EHRHARDT GERMAN EQUITY
0.10
UBAM - EUROPE EQUITY
0.10
UBAM - EUROPE EQUITY DIVIDEND+
0.10
UBAM - EUROPE EQUITY FLEX
0.10
UBAM - EUROPEAN OPPORTUNITIES EQUITY
0.10
UBAM - GCM MIDCAP US EQUITY GROWTH
0.10
UBAM - GLOBAL EMERGING EQUITY UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH
0.10 (1)
0.10
UBAM - GLOBAL EQUITY INCOME
0.10
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY
0.10
UBAM - AJO EQUITY VALUE
(1)
0.10
UBAM - RUSSIAN EQUITY
0.10
UBAM - SNAM JAPAN EQUITY VALUE
0.10
UBAM - SWISS EQUITY
0.00
UBAM - SWISS SMALL AND MID CAP EQUITY
0.00
UBAM - TURKISH EQUITY
0.10
Feeder equity sub-fund UBAM - EURO EQUITY INCOME (2)
0.10
Fund of funds sub-funds UBAM - MULTIFUNDS ALLOCATION 30
0.10
UBAM - MULTIFUNDS ALLOCATION 50
0.10
UBAM - MULTIFUNDS ALLOCATION 70
0.10
UBAM - MULTIFUNDS ALTERNATIVE
0.10
Asset allocation sub-funds UBAM - ASYMMETRY 50 EUR
0.10
UBAM - ASYMMETRY 50 USD
0.10
(1)
Please refer to Note 18 for more details on events concerning this sub-fund. This sub-fund acts as Feeder in a Master-Feeder structure, please refer to Note 16 and "AGGREGATE CHARGES WITHIN MASTER-FEEDER STRUCTURES" in chapter of the prospectus dated June 2016, in order to obtain complete information about aggregate fees. (3) No fee is currently foreseen for the Type A shares. (2)
Page 345
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Note 8 - Forward foreign exchange contracts As at 30th June 2016, the following forward foreign exchange contracts are outstanding: The exposure corresponds to the commitment in the sub-fund’s currency. If each of the two legs are not in the sub-fund’s currency, the exposure is equal to the sum of the two commitments converted into the relevant foreign exchange rate. UBAM - CORPORATE EURO BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts EUR
462,510.01
EUR
177,848.92
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-520,000.00
04/08/2016
-5,041.62
USD
-200,000.00
04/08/2016
-1,978.67 -7,020.29
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
4,709,136.00
CHF
495,037.00
CHF
70,957.00
CHF
4,608,384.00
CHF
52,387.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-4,279,087.69
23/08/2016
77,096.87
EUR
-448,037.83
23/08/2016
9,895.97
EUR
-64,231.92
23/08/2016
1,406.83
EUR
-4,178,992.52
23/08/2016
83,991.43
EUR
-48,490.77
23/08/2016
-30.19 172,360.91
Forward foreign exchange contracts linked to AH USD USD
763,128.00
EUR
83,750.99
USD
3,186.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-673,843.71
23/08/2016
11,866.15
USD
-95,116.00
23/08/2016
-1,718.63
EUR
-2,817.72
23/08/2016
45.07 10,192.59
Forward foreign exchange contracts linked to IH GBP GBP
8,660,779.00
GBP
66,004.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-10,983,866.84
23/08/2016
-577,069.56
EUR
-85,965.10
23/08/2016
-6,654.65 -583,724.21
UBAM - CORPORATE US DOLLAR BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts linked to AH EUR and IH EUR EUR
128,220,337.00
USD
787,044.65
EUR
66,941.00
USD
278,160.57
USD
267,737.92
EUR
7,144,796.00
EUR
149,182.00
EUR
2,463,357.00
EUR
1,834,554.00
EUR
9,848,925.00
EUR
1,241,961.00
EUR
116,706.00
EUR
10,260,803.00
EUR
8,179,519.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-145,228,764.70
23/08/2016
-2,532,031.13
EUR
-703,315.00
23/08/2016
4,316.26
USD
-74,920.37
23/08/2016
-421.56
EUR
-249,192.00
23/08/2016
832.79
EUR
-238,201.00
23/08/2016
2,638.87
USD
-7,991,097.09
23/08/2016
-39,635.76
USD
-169,426.00
23/08/2016
-3,400.98
USD
-2,804,655.11
23/08/2016
-63,178.95
USD
-2,096,803.49
23/08/2016
-55,123.76
USD
-11,184,439.23
23/08/2016
-223,545.98
USD
-1,407,017.62
23/08/2016
-24,836.12
USD
-131,609.36
23/08/2016
-1,726.96
USD
-11,478,760.32
23/08/2016
-59,487.01
USD
-9,228,542.31
23/08/2016
-125,535.17
Page 346
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH EUR and IH EUR USD
2,626,301.57
USD
2,551,870.53
EUR
578,393.00
EUR
40,518,371.00
USD
1,222,935.35
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-2,323,030.00
23/08/2016
40,924.49
EUR
-2,297,637.00
23/08/2016
-5,165.64
USD
-638,459.11
23/08/2016
5,235.91
USD
-44,855,862.62
23/08/2016
237,133.75
EUR
-1,098,922.00
23/08/2016
-57.25 -2,843,064.20
Forward foreign exchange contracts linked to AH GBP GBP
713,018.00
GBP
150,895.00
GBP
13,150.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-1,023,430.39
23/08/2016
-69,937.08
USD
-218,631.77
23/08/2016
-16,845.32
USD
-19,338.39
23/08/2016
-1,753.37 -88,535.77
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
42,611,954.00
CHF
234,916.00
USD
41,768.58
CHF
311,904.00
CHF
509,244.00
CHF
512,925.00
CHF
542,952.00
CHF
415,992.00
CHF
168,859.00
CHF
580,577.00
CHF
508,842.00
USD
82,147.41
CHF
200,104.00
USD
204,187.76
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-43,848,481.17
23/08/2016
20,107.01
USD
-241,658.27
23/08/2016
185.45
CHF
-41,188.00
23/08/2016
-632.17
USD
-317,330.35
23/08/2016
3,771.76
USD
-526,295.99
23/08/2016
-2,034.29
USD
-532,660.06
23/08/2016
-4,608.81
USD
-568,060.26
23/08/2016
-9,096.51
USD
-433,279.87
23/08/2016
-5,020.19
USD
-176,004.79
23/08/2016
-2,166.11
USD
-603,259.56
23/08/2016
-5,561.24
USD
-530,043.75
23/08/2016
-6,195.91
CHF
-78,574.00
23/08/2016
1,252.62
USD
-204,825.22
23/08/2016
1,179.88
CHF
-200,104.00
05/07/2016
-1,226.02 -10,044.53
Forward foreign exchange contracts linked to IH ILS ILS
30,681,089.00
USD
122,826.30
USD
8,520.39
ILS
65,501.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
-8,121,954.44
23/08/2016
-147,063.55
ILS
-474,392.00
23/08/2016
-481.23
ILS
-32,720.00
23/08/2016
15.52
USD
-17,066.44
23/08/2016
USD
-40.86 -147,570.12
UBAM - DYNAMIC EURO BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts EUR
249,043.85
EUR
266,773.38
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-280,000.00
04/08/2016
-2,714.73
USD
-300,000.00
04/08/2016
-2,968.02 -5,682.75
Forward foreign exchange contracts linked to AH CHF, IH CHF and UH CHF CHF
20,633,274.00
EUR
622,958.12
EUR
92,002.89
EUR
500,093.50
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-18,748,999.55
23/08/2016
337,803.11
CHF
-690,113.00
23/08/2016
-15,412.42
CHF
-101,700.00
23/08/2016
-2,072.20
CHF
-545,552.00
23/08/2016
-4,563.76 315,754.73
Page 347
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH GBP, IH GBP and UH GBP GBP
2 646 353.00
EUR
198 382.78
EUR
94 696.85
GBP
7 199.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-3 356 186.43
23/08/2016
-176 327.07
GBP
-152 110.00
23/08/2016
15 629.39
GBP
-73 409.00
23/08/2016
6 497.73
EUR
-9 366.38
23/08/2016
-716.06 -154,916.01
Forward foreign exchange contracts linked to UH USD USD
1,991.00
UNION BANCAIRE PRIVEE GENEVE
EUR
-1,758.06
23/08/2016
30.96 30.69
UBAM - DYNAMIC US DOLLAR BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts USD
56,250.00
UNION BANCAIRE PRIVEE GENEVE
EUR
-50,000.00
04/08/2016
639.79 639.79
Forward foreign exchange contracts linked to AH EUR, IH EUR and UH EUR EUR
98,406,607.00
EUR
315,521.00
EUR
1,097,684.00
EUR
6,001.00
USD
1,170,013.13
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-111,460,243.42
23/08/2016
-1,943,284.49
USD
-358,905.14
23/08/2016
-7,761.03
USD
-1,232,918.67
23/08/2016
-11,303.40
USD
-6,789.83
23/08/2016
-111.30
EUR
-1,053,449.00
23/08/2016
-2,368.41 -1,964,828.63
Forward foreign exchange contracts linked to AH CHF, IH CHF and UH CHF CHF
8,768,050.00
USD
3,221,183.38
USD
99,974.64
CHF
3,251,194.00
CHF
152,746.00
USD
3,362,542.47
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-9,022,484.05
23/08/2016
4,137.32
CHF
-3,182,046.00
23/08/2016
-54,539.48
CHF
-98,570.00
23/08/2016
-1,497.75
USD
-3,282,376.58
23/08/2016
64,695.72
USD
-159,093.84
23/08/2016
-1,843.33
CHF
-3,216,440.00
23/08/2016
51,100.72 62,053.20
Forward foreign exchange contracts linked to AH GBP, IH GBP and UH GBP GBP
4,511,119.00
GBP
344,690.00
GBP
103,769.00
GBP
198,284.00
USD
107,703.19
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-6,475,034.66
23/08/2016
-442 477.57
USD
-504,384.88
23/08/2016
-43 443.35
USD
-151,092.85
23/08/2016
-12 326.30
USD
-288,622.19
23/08/2016
-23 464.13
GBP
-73,260.00
23/08/2016
9 731.87 -511,979.48
Page 348
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - EMERGING MARKET BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts USD
675,058.66
USD
697,602.52
HUF
198,194,430.00
HUF
197,000,000.00
HUF
586,340.00
USD
693,884.20
USD
708,784.99
RUB
47,649,000.00
TWD
22,816,500.00
ILS
5,367,682.60
USD
700,000.00
COP
2,112,600,000.00
PEN
2,310,000.00
USD
700,000.00
USD
700,000.00
USD
700,000.00
USD
1,400,000.00
USD
700,000.00
USD
700,000.00
USD
700,000.00
ZAR
20,692,420.00
HUF
195,519,590.00
MXN
26,021,520.00
HUF
194,320,000.00
USD
700,000.00
COP
2,085,734,000.00
PLN
2,690,128.63
USD
700,000.00
RUB
45,835,331.57
IDR
9,261,700,000.00
CLP
928,984,000.00
PLN
2,785,623.47
HUF
198,973,740.00
RUB
45,499,539.26
JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD
COP
-2,094,302,000.00
26/08/2016
-37,382.38
TWD
-22,812,300.01
26/08/2016
-11,381.45
USD
-699,999.99
26/08/2016
-2,596.76
USD
-695,861.03
26/08/2016
-2,660.74
USD
-2,071.35
26/08/2016
-8.15
PEN
-2,342,900.00
26/08/2016
-14,983.09
RUB
-48,544,119.21
26/08/2016
-41,340.61
USD
-700,000.00
26/08/2016
35,749.12
USD
-700,000.00
26/08/2016
9,144.36
USD
-1,400,000.00
26/08/2016
-4,690.84
HUF
-191,763,950.00
26/08/2016
25,227.84
USD
-699,999.87
26/08/2016
18,261.31
USD
-700,000.00
26/08/2016
-1,161.15
ZAR
-10,566,935.19
26/08/2016
-14,019.15
HUF
-191,043,930.00
26/08/2016
27,761.79
ZAR
-10,841,044.34
26/08/2016
-32,736.07
CLP
-970,690,000.00
26/08/2016
-59,807.88
MXN
-13,321,593.11
26/08/2016
-18,490.60
MXN
-13,410,484.85
26/08/2016
-23,308.77
COP
-2,132,760,000.00
26/08/2016
-25,384.37
USD
-1,377,995.13
26/08/2016
19,934.37
USD
-700,000.00
26/08/2016
-12,008.95
USD
-1,390,343.88
26/08/2016
12,927.77
USD
-699,468.58
26/08/2016
-15,698.63
HUF
-193,431,980.00
26/08/2016
19,357.57
USD
-700,000.07
26/08/2016
9,126.96
USD
-700,000.00
26/08/2016
-21,798.92
ILS
-2,676,610.30
26/08/2016
4,220.64
USD
-700,000.00
26/08/2016
7,744.23
USD
-699,999.29
26/08/2016
-397.33
USD
-1,399,999.98
26/08/2016
-3,169.88
USD
-700,000.00
26/08/2016
2,276.02
USD
-699,999.98
26/08/2016
145.47
USD
-700,000.00
26/08/2016
2,559.25 -148,589.02
Forward foreign exchange contracts linked to AH EUR, IH EUR and AHS EUR EUR
21,332,392.00
USD
51,699.96
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-23,797,349.90
27/07/2016
-78 645.42
EUR
-46,800.00
05/07/2016
-294.23 -78,939.65
Forward foreign exchange contracts linked to AH GBP GBP
38,983.00
UNION BANCAIRE PRIVEE GENEVE
USD
-54,870.52
27/07/2016
-2,749.59 -2,749.59
Page 349
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH CHF CHF
267,334.00
UNION BANCAIRE PRIVEE GENEVE
USD
-276,886.59
27/07/2016
-2,065.70 -2,065.70
UBAM - EMERGING MARKET CORPORATE BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts linked to AH EUR, IH EUR, RH EUR, APH EUR, IPH EUR, IHS EUR and AHS EUR EUR
70,445,553.00
EUR
101,009.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-78,585,536.65
27/07/2016
-259,709.25
USD
-112,316.96
01/07/2016
-101.01 -259,810.26
Forward foreign exchange contracts linked to AH CHF, IH CHF, APH CHF and AHS CHF CHF
6,709,963.00
UNION BANCAIRE PRIVEE GENEVE
USD
-6,949,728.64
27/07/2016
-51,848.08 -51,848.08
Forward foreign exchange contracts linked to IH GBP GBP
27,186.00
UNION BANCAIRE PRIVEE GENEVE
USD
-38,265.65
27/07/2016
-1,917.51 -1,917.51
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts USD
190,759.05
EUR
13,000.00
EUR
158,000.00
USD
312,050.50
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-171,000.00
27/07/2016
629.94
USD
-14,653.60
27/07/2016
-199.38
USD
-178,081.80
27/07/2016
-2,407.39
EUR
-281,000.00
27/07/2016
-382.73 -2,359.56
Forward foreign exchange contracts linked to AH CHF CHF
316 877.00
UNION BANCAIRE PRIVEE GENEVE
USD
-328 199.90
27/07/2016
-2 448.52 -2,448.52
Forward foreign exchange contracts linked to AH EUR and IH EUR EUR
17,353,202.00
USD
383,478.70
EUR
375,843.00
EUR
56.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-19,358,364.49
27/07/2016
-63,975.47
EUR
-344,638.00
27/07/2016
288.17
USD
-417,862.25
05/07/2016
-305.51
USD
-62.25
06/07/2016
-0.03 -63,992.84
UBAM - EURO BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts EUR
280,174.33
UNION BANCAIRE PRIVEE GENEVE
USD
-315 000.00
04/08/2016
-3,054.06 -3,054.06
Page 350
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - GLOBAL AGGREGATE BOND (1) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts USD
103,049.85
USD
134,764.59
EUR
119,860.00
CHF
101,602.00
NOMURA UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-103,049.85
23/08/2016
1,548.41
USD
300,000.00
NOMURA
JPY
-32,268,000.00
06/07/2016
-14,551.49
JPY
32,656,620.00
NOMURA UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-300,000.00
06/07/2016
18,340.69
SEK
735,000.00
JPY
126,500,000.00
USD
5,484,375.00
CHF
100,000.00
USD
770,357.50
USD
73,347.16
AUD
425,000.00
USD
311,041.99
DKK
795,000.00
AUD
400,000.00
USD
389,142.91
USD
703,762.50
USD
122,276.00
USD
99,640.47
AUD
110,000.00
PLN
240,000.00
CAD
25,000.00
CHF
-101,602.00
23/08/2016
-1,543.81
EUR
-119,860.00
23/08/2016
1,369.72
USD
-134,764.59
23/08/2016
-1,372.10
USD
-88,730.61
04/08/2016
-1,864.96
USD
-1,196,953.21
04/08/2016
37,295.08
EUR
-4,875,000.00
04/08/2016
62,379.13
USD
-103,906.90
04/08/2016
-1,052.06
GBP
-545,000.00
04/08/2016
41,626.26
PLN
-290,000.00
04/08/2016
200.66
USD
-311,610.00
04/08/2016
4,486.18
CAD
-400,000.00
04/08/2016
3,009.11
USD
-120,250.48
04/08/2016
-1,403.92
USD
-296,280.00
04/08/2016
1,222.29
JPY
-40,000,000.00
04/08/2016
-1,132.16
GBP
-525,000.00
04/08/2016
1,782.33
EUR
-110,000.00
04/08/2016
-64.83
CHF
-97,000.00
04/08/2016
-128.47
USD
-81,895.00
04/08/2016
-81.87
USD
-60,613.71
04/08/2016
-78.54
USD
-19,255.95
04/08/2016
-3.92 149,981.73
Forward foreign exchange contracts linked to AH EUR EUR
7,252.35
EUR
8,456.17
EUR
2,096.33
EUR
2,841.97
EUR
42,662.02
EUR
12,912.31
EUR
187,344.06
EUR
238,831.79
CHF
671.00
EUR
38,471.38
EUR
472.29
EUR
1,591.31
EUR
1,144.57
EUR
11,235.05
EUR
346.70
EUR
32,160.19
CHF
10,243.00
CAD
1,143.00
EUR
21,139.21
CHF
23,380.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
Page 351
AUD
-11,359.00
23/08/2016
-372.12
CAD SEK
-12,409.00
23/08/2016
-145.14
-19,560.00
23/08/2016
19.43
DKK
-21,140.00
23/08/2016
0.43
GBP
-33,639.00
23/08/2016
2,493.58
CHF
-14,210.00
23/08/2016
-258.15
JPY
-23,087,345.00
23/08/2016
-16,869.95
USD
-270,477.00
23/08/2016
-4,680.50
EUR
-603.91
23/08/2016
18.67
USD
-43,288.00
23/08/2016
-473.11
DKK
-3,512.00
23/08/2016
0.24
CAD
-2,351.00
23/08/2016
-39.50
AUD
-1,790.00
23/08/2016
-56.73
GBP
-8,692.00
23/08/2016
879.71
SEK
-3,240.00
23/08/2016
2.62
JPY
-3,986,255.00
23/08/2016
-3,120.09
EUR
-9,235.42
23/08/2016
266.48
EUR
-777.66
23/08/2016
14.73
CHF
-23,362.00
23/08/2016
-523.52
EUR
-21,193.85
23/08/2016
481.94
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH EUR EUR
312.34
CHF
350.00
EUR
94.49
EUR
122.65
CHF
105.00
EUR
2,292.70
CHF
143.00
EUR
89.85
EUR
609.23
EUR
693.93
CHF
821.00
EUR
349.51
EUR
4,654.31
GBP
1,260.00
EUR
919.58
JPY
1,137,764.00
EUR
2,477.66
CHF
8,887.00
SEK
828.00
DKK
957.00
EUR
3,864.89
EUR
5,068.06
CHF
861.00
EUR
8,235.29
USD
9,380.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
AUD
-485.00
23/08/2016
-12.89
EUR
-319.53
23/08/2016
4.71
SEK
-873.01
23/08/2016
1.89
DKK
-911.98
23/08/2016
0.07
EUR
-96.21
23/08/2016
1.03
GBP
-1,800.00
23/08/2016
144.42
EUR
-131.17
23/08/2016
1.24
CHF
-97.00
23/08/2016
0.13
CAD
-886.00
23/08/2016
-4.29
CHF
-750.00
23/08/2016
0.16
EUR
-762.73
23/08/2016
-3.62
CHF
-378.00
23/08/2016
-0.18
JPY
-550,279.00
23/08/2016
-192.04
EUR
-1,641.05
23/08/2016
-141.12
USD
-1,040.00
23/08/2016
-16.60
EUR
-10,009.36
23/08/2016
-31.90
GBP
-2,024.00
23/08/2016
50.75
EUR
-8,260.06
23/08/2016
-43.48
EUR
-87.77
23/08/2016
0.25
EUR
-128.68
23/08/2016
-0.05
CHF
-4,188.00
23/08/2016
-10.23
CHF
-5,510.00
23/08/2016
-32.14
EUR
-796.04
23/08/2016
0.48
AUD
-12,327.00
23/08/2016
3.01
EUR
-8,430.32
23/08/2016
-2.11 -22,643.49
Forward foreign exchange contracts linked to AH CHF CHF
7,479,298.01
CHF
289,718.70
CHF
83,699.55
CHF
337,792.45
CHF
9,530,026.67
CHF
113,495.10
CHF
1,702,842.25
CHF
6,635,483.28
CHF
109,139.30
USD
446,861.00
AUD
18,201.00
SEK
27,723.00
DKK
29,518.00
CAD
42,931.00
JPY
41,383,079.00
CHF
2,636.45
CHF
10,317.80
CHF
231,058.75
CHF
4,971.85
CHF
297,773.75
CHF
73,626.45
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
Page 352
JPY
-837,031,840.00
23/08/2016
-470,985.81
AUD
-411,854.00
23/08/2016
-7,863.17
SEK
-709,157.00
23/08/2016
2,284.47
CAD
-449,910.00
23/08/2016
1,282.52
USD
-9,806,572.00
23/08/2016
4,496.87
DKK
-766,455.00
23/08/2016
2,181.80
GBP
-1,219,670.00
23/08/2016
121,996.37
EUR
-6,028,969.00
23/08/2016
121,296.20
GBP
-75,997.00
23/08/2016
10,726.07
CHF
-442,816.90
23/08/2016
-8,987.96
CHF
-13,039.20
23/08/2016
103.92
CHF
-3,301.05
23/08/2016
-118.99
CHF
-4,391.50
23/08/2016
-105.01
CHF
-32,288.40
23/08/2016
-179.30
CHF
-374,930.70
23/08/2016
17,964.63
SEK
-22,192.00
23/08/2016
89.16
AUD
-14,526.00
23/08/2016
-174.73
JPY
-25,255,082.00
23/08/2016
-8,668.25
DKK
-33,740.96
23/08/2016
70.93
USD
-311,543.99
23/08/2016
-4,988.84
GBP
-53,494.00
23/08/2016
4,260.63
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH CHF CHF
10,149.00
CHF
17,031.55
CHF
9,300.95
CHF
241,506.30
GBP
39,651.00
AUD
7,014.00
CHF
1,152.20
CHF
1,472.75
CHF
155.00
USD
66,393.00
JPY
4,362,437.00
GBP
1,588.00
CHF
18,533.40
JPY
34,256,944.00
CHF
82,202.20
CHF
254,768.85
SEK
21,781.00
CHF
274,629.60
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CAD
-13,590.00
23/08/2016
-17.23
CAD
-22,935.00
23/08/2016
-128.19
AUD
-13,236.00
23/08/2016
-262.93
JPY
-26,230,725.00
23/08/2016
-7,439.26
CHF
-55,636.30
23/08/2016
-4,240.67 45.82
CHF
-5,019.20
23/08/2016
CAD
-1,547.00
23/08/2016
-5.15
SEK
-12,730.00
23/08/2016
10.47
DKK
-1,067.00
23/08/2016
-0.04
CHF
-63,511.55
23/08/2016
1,005.56
CHF
-39,938.10
23/08/2016
1,468.37
CHF
-2,235.90
23/08/2016
-177.74
EUR
-17,155.00
23/08/2016
-11.87
CHF
-323,933.65
23/08/2016
946.29
GBP
-62,554.00
23/08/2016
974.81
JPY
-26,719,333.00
23/08/2016
1,430.67
CHF
-2,510.45
23/08/2016
-8.23
AUD
-380,005.00
23/08/2016
289.41 -221,438.40
UBAM - GLOBAL CREDIT OPPORTUNITIES Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts EUR
2,036,355.12
EUR
600,517.37
EUR
1,005,530.42
EUR
37,712,354.35
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-2,281,125.01
20/07/2017
13,882.27
CHF
-650,000.00
04/08/2016
-599.24
GBP
-800,000.00
04/08/2016
43,788.15
USD
-42,400,000.00
04/08/2016
-411,086.55 -354,015.37
Forward foreign exchange contracts linked to APH CHF CHF
931,933.00
EUR
27,296.54
EUR
34,003.62
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-846,826.90
23/08/2016
15 257.39
CHF
-30,321.00
23/08/2016
-751.00
CHF
-37,574.00
23/08/2016
-753.31 13,753.08
Forward foreign exchange contracts linked to APH USD and IPH USD USD
35,158,724.00
EUR
480,306.36
USD
297,408.00
EUR
176,286.08
EUR
185,861.01
USD
101,632.00
EUR
145,892.39
EUR
195,415.69
USD
47,218.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-31,045,230.91
23/08/2016
546,695.48
USD EUR
-536,190.00
23/08/2016
-1,490.48
-260,907.10
23/08/2016
6,329.32
USD
-200,640.00
23/08/2016
-4,006.29
USD
-211,008.00
23/08/2016
-3,747.08
EUR
-90,811.78
23/08/2016
509.81
USD
-164,997.00
23/08/2016
-2,370.04
USD
-217,185.00
23/08/2016
264.28
EUR
-42,504.28
06/07/2016
-4.76 542,180.24
Page 353
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH GBP, UH GBP, APH GBP and UPH GBP GBP
2,661,243.00
GBP
50,799.00
EUR
166,954.26
GBP
37,441.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-3,375,070.39
23/08/2016
-177,319.19
EUR
-64,543.55
23/08/2016
-3,503.44
GBP
-128,488.00
23/08/2016
12,580.77
EUR
-45,098.77
23/08/2016
-109.64 -168,351.50
UBAM - GLOBAL HIGH YIELD SOLUTION Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts USD
13,628,400.00
USD
7,417,150.00
EUR
23,500,000.00
USD
16,055,850.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-12,000,000.00
04/08/2016
281,805.46
EUR
-6,500,000.00
04/08/2016
187,705.49
USD
-26,061,500.00
04/08/2016
74,965.01
EUR
-14,500,000.00
04/08/2016
-70,825.94 473,650.02
Forward foreign exchange contracts linked to AH CHF, IH CHF and UH CHF CHF
164,995,987.00
CHF
123,692.00
CHF
1,937,111.00
CHF
1,509,918.00
CHF
238,133.00
CHF
364,230.00
CHF
1,946,490.00
USD
494,764.21
USD
1,942,187.76
USD
772,094.96
CHF
71,214.00
USD
1,145,944.28
CHF
823,778.00
CHF
760,192.00
USD
2,192,604.42
USD
1,407,185.92
CHF
1,825,202.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-169,783,892.77
23/08/2016
77,855.54
USD
-125,435.55
23/08/2016
1,904.15
USD
-1,965,014.20
23/08/2016
29,222.55
USD
-1,524,399.80
23/08/2016
30,045.95
USD
-242,275.92
23/08/2016
2,879.66
USD
-381,073.45
23/08/2016
-6,102.24
USD
-2,027,382.56
23/08/2016
-23,490.22
CHF
-474,751.00
23/08/2016
5,995.36
CHF
-1,866,054.00
23/08/2016
21,042.72
CHF
-739,860.00
23/08/2016
10,386.26
USD
-73,992.42
23/08/2016
-678.31
CHF
-1,096,153.00
23/08/2016
17,414.97
USD
-862,053.16
23/08/2016
-13,981.80
USD
-788,662.72
23/08/2016
-6,052.52
CHF
-2,141,736.00
23/08/2016
-12,254.47
CHF
-1,374,891.00
23/08/2016
-8,225.86
USD
-1,875,271.76
23/08/2016
3,755.77 129,717.51
Forward foreign exchange contracts linked to AH EUR, IH EUR, RH EUR, UH EUR and VH EUR EUR
941,804,799.00
USD
843,631.19
USD
1,038,721.05
EUR
9,064,173.00
USD
331,803.92
USD
440,297.58
EUR
26,747,823.00
EUR
13,621,398.00
EUR
946,749.00
USD
4,082,853.17
USD
4,242,447.90
USD
2,675,085.35
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-1,066,735,205.59
23/08/2016
-18,598,290.46
EUR
-741,719.00
23/08/2016
18,138.62
EUR
-923,636.00
23/08/2016
10,785.58
USD
-10,185,411.20
23/08/2016
-97,870.41
EUR
-296,505.00
23/08/2016
1,819.66
EUR
-393,439.00
23/08/2016
2,434.18
USD
-30,009,720.01
23/08/2016
-242,000.93
USD
-15,206,247.66
23/08/2016
-46,959.78
USD
-1,064,240.55
23/08/2016
-10,601.22
EUR
-3,650,783.00
23/08/2016
19,853.90
EUR
-3,721,772.00
23/08/2016
100,303.45
EUR
-2,351,000.00
23/08/2016
58,549.42
Page 354
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH EUR, IH EUR, RH EUR, UH EUR and VH EUR EUR
12,233,894.00
EUR
263,258.00
USD
5,256,130.83
USD
14,013,188.87
USD
1,445,951.93
EUR
669,046.00
USD
411,941.51
EUR
468,502.00
EUR
6,302,537.00
USD
1,276,560.01
USD
14,246,113.63
USD
16,270,955.93
EUR
13,748,857.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-13,982,729.15
23/08/2016
-367,597.94
USD
-298,955.78
23/08/2016
-5,975.29
EUR
-4,639,946.00
23/08/2016
92,162.82
EUR
-12,481,686.00
23/08/2016
122,078.69
EUR
-1,282,327.00
23/08/2016
18,814.35
USD
-748,461.76
23/08/2016
-3,878.79
EUR
-365,164.00
23/08/2016
5,539.96
USD
-528,821.63
23/08/2016
-7,424.58
USD
-7,130,060.11
23/08/2016
-115,950.93
EUR
-1,149,381.00
23/08/2016
-2,584.08
EUR
-12,913,446.00
23/08/2016
-125,068.90
EUR
-14,707,544.00
23/08/2016
-96,931.64
USD
-15,307,977.38
23/08/2016
-6,840.06 -19,277,494.38
Forward foreign exchange contracts linked to AH GBP, IH GBP, UH GBP and VH GBP GBP
672,276,706.00
USD
772,030.43
USD
384,288.28
USD
407,187.96
USD
381,088.83
USD
48,984.06
USD
362,204.83
GBP
121,023.00
USD
11,386,109.94
USD
144,474.87
USD
334,529.14
USD
10,972,411.85
USD
851,395.55
USD
848,692.45
USD
23,262,754.39
GBP
1,655,654.00
GBP
4,906,376.00
USD
527,453.43
USD
12,785,518.14
GBP
5,621,021.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-964,952,369.96
23/08/2016
-65,940,925.05
GBP
-532,839.00
23/08/2016
59,463.50
GBP
-263,058.00
23/08/2016
32,499.08
GBP
-280,307.00
23/08/2016
32,332.35
GBP
-260,440.00
23/08/2016
32,800.48
GBP
-33,284.00
23/08/2016
4,473.02
GBP
-250,817.00
23/08/2016
26,787.04
USD
-174,636.19
23/08/2016
-12,796.49
GBP
-7,861,164.00
23/08/2016
873,357.05
GBP
-100,732.00
23/08/2016
9,766.23
GBP
-234,494.00
23/08/2016
20,941.53
GBP
-7,765,880.00
23/08/2016
587,177.55
GBP
-599,300.00
23/08/2016
49,956.00
GBP
-601,206.00
23/08/2016
44,705.89
GBP
-16,305,288.00
23/08/2016
1,457,776.87
USD
-2,433,397.47
23/08/2016
-219,350.96
USD
-7,225,129.30
23/08/2016
-664,009.25
GBP
-386,923.00
23/08/2016
10,031.77
GBP
-9,679,399.00
23/08/2016
-158,339.05
USD
-7,480,735.80
23/08/2016
36,053.29 -63,717,299.15
Forward foreign exchange contracts linked to IH SEK SEK
40,976,453.00
USD
298,938.25
SEK
214,140.00
USD
63,939.22
SEK
393,321.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-4,978,217.26
23/08/2016
91,667.37
SEK
-2,476,823.00
23/08/2016
14,783.91
USD
-25,942.84
23/08/2016
6,504.18
SEK
-545,945.00
23/08/2016
1,388.87
USD
-46,513.84
23/08/2016
240.97 114,032.86
Page 355
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - LOCAL CURRENCY EMERGING MARKET BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts USD
441,588.92
RON
1,002,814.75
INR
27,072,300.00
MYR
605,400.00
USD
367,446.97
USD
29,786.79
USD
306,135.61
USD
102,981.70
USD
163,688.45
USD
621,475.21
USD
55,477.07
MXN
2,350,000.00
HUF
70,809,925.00
RON
605,275.50
PLN
793,860.50
HUF
44,850,000.00
USD
192,514.00
TRY
325,000.00
MXN
5,690,000.00
USD
396,100.78
PLN
784,683.92
PLN
392,611.96
ZAR
2,348,653.38
ILS
1,534,823.60
HUF
27,684,420.00
USD
150,000.00
MXN
2,736,073.02
USD
250,000.00
USD
250,000.00
USD
150,000.00
JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD UNION BANK OF SWITZERLAND (LONDON) JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD
PEN
-1,491,025.00
26/08/2016
-9,535.26
USD
-250,000.00
26/08/2016
-3,447.43
USD
-395,903.83
26/08/2016
1,532.08
USD
-147,708.97
26/08/2016
3,827.25
PLN
-1,460,000.00
26/08/2016
-630.48
RON
-120,000.00
26/08/2016
283.29
COP
-948,377,500.00
26/08/2016
-16,479.14
ZAR
-1,650,000.07
26/08/2016
-8,578.49
HUF
-46,473,999.13
26/08/2016
156.54
RUB
-42,750,000.00
26/08/2016
-39,154.64
TRY
-169,999.99
26/08/2016
-2,957.07
USD
-126,305.58
26/08/2016
423.70
USD
-250,000.00
26/08/2016
-835.23
USD
-150,000.00
26/08/2016
-1,186.64
USD
-200,000.00
26/08/2016
138.03
USD
-159,574.75
26/08/2016
-1,757.32
PLN
-760,000.01
26/08/2016
913.66
USD
-108,039.25
26/08/2016
3,605.49
USD
-305,489.79
26/08/2016
1,356.84
INR
-27,072,300.01
26/08/2016
-1,344.82
USD
-200,000.00
26/08/2016
-2,175.45
USD
-100,000.00
26/08/2016
-1,019.66
USD
-150,000.00
26/08/2016
8,669.30
USD
-400,000.00
26/08/2016
-1,028.30
USD
-100,000.00
26/08/2016
-2,584.53
HUF
-41,086,275.00
26/08/2016
5,427.09
USD
-150,000.00
26/08/2016
-2,450.83
ZAR
-3,774,855.68
26/08/2016
-5,071.72
RON
-992,086.50
26/08/2016
6,080.01
PLN
-572,404.56
26/08/2016
5,700.09
Page 356
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts USD
250,000.00
USD
150,000.00
USD
150,000.00
USD
500,000.00
USD
250,000.00
USD
250,000.00
USD
150,000.00
USD
200,000.00
USD
150,000.00
ZAR
7,428,004.20
MXN
11,202,659.34
RUB
19,480,004.85
TRY
730,105.25
RUB
16,380,186.28
CLP
398,346,000.00
MYR
1,005,625.00
RUB
16,245,360.65
ZAR
2,235,563.67
TRY
729,833.00
JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD JPMORGAN SECURITIES LTD F AND O SEG LD
MXN
-4,603,527.43
26/08/2016
1,753.43
RON
-597,995.10
26/08/2016
2,974.13
ZAR
-2,320,562.04
26/08/2016
-6,842.87
CLP
-346,705,000.00
26/08/2016
-21,405.27
MXN
-4,758,111.83
26/08/2016
-6,625.46
MXN
-4,790,508.88
26/08/2016
-8,381.47
ZAR
-2,323,566.86
26/08/2016
-7,048.05
TRY
-597,670.60
26/08/2016
-5,376.43
ZAR
-2,322,608.97
26/08/2016
-6,982.64
USD
-500,000.00
26/08/2016
1,817.87
USD
-600,000.00
26/08/2016
4,129.74
USD
-300,000.00
26/08/2016
791.13
USD
-250,000.00
26/08/2016
807.42
USD
-250,000.00
26/08/2016
2,926.77
USD
-599,999.98
26/08/2016
-1,042.75
USD
-250,000.00
26/08/2016
1,715.57
USD
-250,000.00
26/08/2016
844.92
USD
-150,000.00
26/08/2016
1,029.24
USD
-250,000.00
26/08/2016
713.90 -106,324.46
Forward foreign exchange contracts linked to AH EUR, IH EUR and RH EUR EUR
6,512,741.00
UNION BANCAIRE PRIVEE GENEVE
USD
-7,265,288.22
27/07/2016
-24,010.30 -24,010.30
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
837,996.00
CHF
23,343.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-867,939.93
27/07/2016
USD
-23,982.12
27/07/2016
-6,475.22 14.62 -6,460.60
Page 357
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - UNCONSTRAINED BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts EUR
6,206,034.64
EUR
4,445,132.91
EUR
489,652.62
EUR
2,608,071.98
EUR
1,527,149.32
EUR
85,564,351.15
EUR
266,773.38
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-6,952,000.00
20/07/2017
42,307.90
GBP
-3,587,000.00
22/11/2016
146,688.35
CHF
-530,000.00
04/08/2016
-488.62
AUD
-4,000,000.00
04/08/2016
-67,002.28
GBP
-1,215,000.00
04/08/2016
66,503.25
USD
-96,200,000.00
04/08/2016
-932,701.08
USD
-300,000.00
04/08/2016
-2,968.02 -747,660.50
Forward foreign exchange contracts linked to APH USD and IPH USD USD
83,382,610.00
EUR
1,544,320.71
EUR
1,817,380.52
EUR
153,559.93
EUR
183,603.63
EUR
522,428.45
EUR
1,783,826.71
EUR
472,832.75
EUR
447,085.31
EUR
172,744.19
EUR
146,616.28
EUR
124,788.55
EUR
99,512.90
EUR
33,774.80
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-73,627,028.70
23/08/2016
1,296,545.81
USD
-1,746,009.00
23/08/2016
-24,601.13
USD
-2,043,917.00
23/08/2016
-19,217.50
USD
-172,586.00
23/08/2016
-1,520.12
USD
-205,480.00
23/08/2016
-1,032.51
USD
-583,213.00
23/08/2016
-1,621.20
USD
-2,025,892.00
23/08/2016
-36,605.43
USD
-528,958.00
23/08/2016
-2,467.48
USD
-504,424.00
23/08/2016
-6,176.38
USD
-194,985.00
23/08/2016
-2,464.16
USD
-165,867.00
23/08/2016
-2,427.99
USD
-138,690.00
23/08/2016
168.77
USD
-110,116.00
23/08/2016
569.02
USD
-37,539.00
06/07/2016
-12.94 1,199,136.76
Forward foreign exchange contracts linked to APH GBP, UH GBP and UPH GBP GBP
2,732,222.00
GBP
36,851.00
GBP
72,165.00
GBP
97,937.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-3,465,088.14
23/08/2016
-182,048.53
EUR
-47,172.30
23/08/2016
-2,892.12
EUR
-93,502.20
23/08/2016
-6,788.69
EUR
-127,273.55
23/08/2016
-9,592.39 -201,321.73
Forward foreign exchange contracts linked to APH CHF and IPH CHF CHF
85,737,147.00
EUR
414,020.25
EUR
949,606.66
EUR
37,932.44
EUR
604,767.81
CHF
4,352.00
CHF
4,862.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-77,907,448.43
23/08/2016
1,403,668.43
CHF
-457,865.00
23/08/2016
-9,516.34
CHF
-1,048,983.00
23/08/2016
-20,730.15
CHF
-40,876.00
23/08/2016
119.97
CHF
-653,754.00
23/08/2016
12.93
EUR
-4,001.84
05/07/2016
19.34
EUR
-4,489.38
06/07/2016
3.17 1,373,577.35
Page 358
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - US DOLLAR BOND Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts USD
28,125.60
UNION BANCAIRE PRIVEE GENEVE
EUR
-25,000.00
04/08/2016
319.89 319.89
Forward foreign exchange contracts linked to AH GBP GBP
129,661.00
GBP
1,332.00
USD
809.52
GBP
2,026.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-186,108.92
23/08/2016
-12,717.93
USD GBP
-1,892.44
23/08/2016
-111.20
-550.00
23/08/2016
74.00
USD
-2,704.91
23/08/2016
4.39 -12,750.74
Forward foreign exchange contracts linked to AH EUR EUR
3,645,332.00
EUR
46,038.00
USD
335,598.39
EUR
44,679.00
USD
27,312.21
EUR
48,357.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-4,128,885.29
23/08/2016
-71,986.19
USD
-51,525.73
23/08/2016
-289.92
EUR
-299,869.00
23/08/2016
1,870.23
USD
-50,411.32
23/08/2016
-687.95
EUR
-24,153.00
23/08/2016
431.52
USD
-53,533.62
23/08/2016
283.01 -70,379.30
UBAM - EM INVESTMENT GRADE CORPORATE BOND (1) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts linked to AH EUR and IH EUR EUR
9,995,142.00
EUR
236,684.00
EUR
3,348,444.00
EUR
100,650.00
EUR
1,138,441.00
EUR
41,807.00
USD
53,172.12
USD
480,181.05
EUR
539,179.00
USD
11,993.12
EUR
49,387.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-11,150,080.66
27/07/2016
-36 848.76
USD
-266,766.54
27/07/2016
-3 606.28
USD
-3,794,959.01
27/07/2016
-71 946.90
USD
-113,704.31
27/07/2016
-1 795.27
USD
-1,266,686.38
27/07/2016
-895.57
USD
-46,487.29
01/07/2016
-41.80
EUR
-48,290.00
01/07/2016
-475.66
EUR
-434,671.00
05/07/2016
-2 732.75
USD
-596,170.22
27/07/2016
3 323.14
EUR
-10,791.00
05/07/2016
4.46
USD
-54,898.59
07/07/2016
-26.60 -115,041.99
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
443,658.00
USD
30,783.27
CHF
32,313.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-459,511.13
27/07/2016
-3 428.15 -200.64
CHF
-30,183.00
05/07/2016
USD
-33,011.19
27/07/2016
206.76 -3,422.03
Forward foreign exchange contracts linked to AH GBP and UH GBP GBP
2,291,541.00
UNION BANCAIRE PRIVEE GENEVE
USD
-3,225,458.53
27/07/2016
-161,629.36 -161,629.36
Page 359
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - EUROPEAN CONVERTIBLE BOND (2) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH USD, IH USD and UH USD EUR
5,695,461.00
USD
146,945.01
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-5,041,792.59
28/07/2016
EUR
-162,073.00
28/07/2016
80,467.12 1,184.37 81,651.49
Forward foreign exchange contracts linked to AH CHF, IH CHF and UH CHF CHF
4,786,357.00
EUR
99,481.21
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-4,427,302.75
28/07/2016
CHF
-107,191.00
28/07/2016
-1,807.52 371.50 -1,436.02
UBAM - EURO 10-40 CONVERTIBLE BOND (2) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
43,339,903.00
CHF
28,697.00
EUR
1,004,321.18
CHF
231,843.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-40,088,708.72
28/07/2016
-16,366.84
EUR
-26,621.83
01/07/2016
-107.00
CHF
-1,088,182.00
28/07/2016
-1,817.24
EUR
-214,074.79
06/07/2016
150.90 -18,140.18
Forward foreign exchange contracts linked to AH GBP and IH GBP GBP
2,384,271.00
GBP
100,650.00
EUR
157,612.26
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-3,104,721.66
28/07/2016
EUR
-120,611.14
01/07/2016
-237,714.52 500.71
GBP
-131,622.00
28/07/2016
-659.29 -237,873.10
Forward foreign exchange contracts linked to AH USD and IH USD USD
49,917,153.00
USD
175,801.00
USD
20,000.00
USD
70,000.00
EUR
1,113,417.10
EUR
81,363.29
USD
257,675.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-44,188,158.28
28/07/2016
705,243.97
EUR
-158,058.89
28/07/2016
49.19
EUR
-18,145.53
27/07/2016
-157.70
EUR
-63,509.34
27/07/2016
-551.95
USD
-1,231,662.00
28/07/2016
5,716.83
USD
-90,000.00
27/07/2016
418.43
EUR
-231,847.22
05/07/2016
86.16 710,804.93
Forward foreign exchange contracts linked to AH SEK and IH SEK SEK
740,015,154.00
SEK
833,910.00
SEK
140,610.00
EUR
1,644,393.27
SEK
312,472.00
EUR
64,099.92
SEK
292,331.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-79,195,979.70
28/07/2016
-563,947.94
EUR
-88,879.30
28/07/2016
-270.25
EUR
-14,929.92
01/07/2016
8.33
SEK
-15,546,094.00
28/07/2016
-7,491.81
EUR
-33,123.30
28/07/2016
79.14
SEK
-604,802.00
05/07/2016
-153.99
EUR
-30,982.69
05/07/2016
74.43 -571,702.09
Page 360
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - GLOBAL CONVERTIBLE BOND (2) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
4,779,938.00
EUR
126,970.65
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-4,421,365.28
28/07/2016
CHF
-137,560.00
28/07/2016
-1,805.10 -218.01 -2,023.11
Forward foreign exchange contracts linked to AH USD and IH USD EUR
58,395.96
USD
37,287,844.00
USD
65,967.00
EUR
712,810.52
USD
30,803.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-65,967.00
28/07/2016
-932.80
EUR
-33,008,315.85
28/07/2016
526,813.44
EUR
-58,395.96
28/07/2016
932.00
USD
-788,511.00
28/07/2016
3,659.92
EUR
-27,876.02
05/07/2016
-150.23 530,322.33
Forward foreign exchange contracts linked to AH GBP and UH GBP GBP
972,006.00
EUR
36,574.70
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-1,265,715.22
28/07/2016
-96,910.10
GBP
-30,357.00
28/07/2016
71.46 -96,838.64
UBAM - GLOBAL 10-40 CONVERTIBLE BOND (2) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH GBP GBP
767,136.00
EUR
18,990.51
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-998,940.04
28/07/2016
GBP
-15,802.00
28/07/2016
-76,484.33 -10.88 -76,495.21
Forward foreign exchange contracts linked to AH USD and IH USD USD
21,714,100.00
USD
175,081.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-19,221,971.41
28/07/2016
EUR
-157,411.55
28/07/2016
306,783.08 48.99 306,832.07
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
13,570,385.00
EUR
246,398.75
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-12,552,386.46
28/07/2016
CHF
-267,318.00
28/07/2016
-5,124.71 -764.56 -5,889.27
Page 361
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - 30 GLOBAL LEADERS EQUITY (1) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts linked to AH USD and IH USD USD
11,536,282.00
USD
4,594,946.53
USD
4,960,741.24
USD
474,049.64
USD
200,176.10
USD
244,202.90
USD
240,052.39
GBP
209,283.00
EUR
321,528.00
GBP
250,444.00
USD
235,617.33
USD
171,161.06
USD
186,851.80
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-10,203,230.00
20/07/2016
194,493.35
GBP
-3,219,215.00
20/07/2016
291,017.65
CHF
-4,785,131.00
20/07/2016
43,828.96
EUR
-420,723.00
20/07/2016
6,379.90
GBP
-136,611.00
20/07/2016
17,533.52
GBP
-165,972.00
20/07/2016
22,305.91
GBP
-175,927.00
20/07/2016
4,847.96
USD
-276,169.85
20/07/2016
3,629.07
USD
-355,818.96
20/07/2016
1,584.33
USD
-332,865.12
20/07/2016
1,963.61
CHF
-230,528.00
20/07/2016
-1,255.88
GBP
-126,664.00
20/07/2016
1,818.65
GBP
-140,432.00
20/07/2016
-897.34 587,249.69
Forward foreign exchange contracts linked to AH EUR and IH EUR EUR
1,430,596.00
EUR
1,324,697.72
EUR
15,025,454.55
CHF
47,791.00
CHF
115,338.00
GBP
93,803.00
USD
1,708,352.00
CHF
73,354.00
GBP
61,791.00
USD
455,080.00
EUR
70,624.19
EUR
63,094.53
USD
1,259,327.00
GBP
57,755.00
CHF
73,056.00
GBP
62,857.00
USD
397,252.00
GBP
60,263.00
EUR
43,056.72
CHF
37,821.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-1,560,208.00
20/07/2016
GBP
-1,049,558.00
20/07/2016
-12,929.85 69,300.39
USD
-16,982,520.00
20/07/2016
-280,562.79
EUR
-44,234.54
20/07/2016
-63.36
EUR
-107,067.07
20/07/2016
-499.72
EUR
-118,288.78
20/07/2016
-6,074.67
EUR
-1,529,958.80
20/07/2016
7,680.19
EUR
-67,923.51
20/07/2016
-128.68
EUR
-78,405.02
20/07/2016
-4,539.79
EUR
-403,887.29
20/07/2016
6,124.60
GBP
-54,310.00
20/07/2016
5,894.41
GBP
-48,526.00
20/07/2016
5,257.55
EUR
-1,131,267.52
20/07/2016
1,834.67
EUR
-70,830.27
20/07/2016
-1,517.47
EUR
-68,168.33
20/07/2016
-706.70
EUR
-75,458.58
20/07/2016
157.93
EUR
-361,499.68
20/07/2016
-4,580.25
EUR
-72,414.08
20/07/2016
74.16
GBP
-35,412.00
20/07/2016
517.09
EUR
-34,972.49
20/07/2016
-12.39 -214,774.68
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
3,077,559.85
CHF
1,225,831.05
CHF
13,899,026.25
GBP
27,088.00
CHF
69,891.65
CHF
68,664.40
CHF
99,172.95
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-2,821,508.00
20/07/2016
25,947.92
GBP
-890,154.00
20/07/2016
69,489.09
USD
-14,403,136.00
20/07/2016
-121,457.04
CHF
-37,125.46
20/07/2016
-1,930.50
GBP
-49,806.98
20/07/2016
5,226.32
GBP
-48,802.00
20/07/2016
5,308.87
EUR
-92,538.00
20/07/2016
-959.36
Page 362
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH CHF and IH CHF GBP
37,988.00
USD
526,651.00
EUR
120,061.00
GBP
70,220.00
CHF
43,735.05
CHF
51,784.10
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-49,038.70
20/07/2016
398.53
CHF
-515,644.00
20/07/2016
-3,185.55
CHF
-129,173.65
20/07/2016
726.47
CHF
-91,482.62
20/07/2016
-121.08
GBP
-33,080.00
20/07/2016
713.04
GBP
-39,922.98
20/07/2016
-164.87 -20,008.16
Forward foreign exchange contracts linked to AH GBP GBP
675,434.89
GBP
290,125.98
GBP
3,047,768.32
CHF
12,871.00
GBP
68,124.95
GBP
38,967.18
GBP
343,044.28
GBP
37,949.79
CHF
19,475.00
USD
276,771.00
EUR
52,535.00
CHF
15,361.00
USD
231,020.00
EUR
62,090.00
GBP
12,945.80
GBP
111,361.84
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-852,015.00
20/07/2016
-44,039.43
CHF
-399,576.00
20/07/2016
-22,671.91
USD
-4,349,013.00
20/07/2016
-274,328.06
GBP
-9,433.10
20/07/2016
613.80
EUR
-88,142.00
20/07/2016
-6,893.75
CHF
-54,858.00
20/07/2016
-4,267.06
USD
-504,378.00
20/07/2016
-45,748.20
EUR
-49,417.00
20/07/2016
-4,191.84
GBP
-14,826.80
20/07/2016
188.59
GBP
-202,836.94
20/07/2016
5,589.50
GBP
-42,900.08
20/07/2016
1,041.76
GBP
-11,913.29
20/07/2016
-143.44
GBP
-175,154.48
20/07/2016
-3,150.80
GBP
-51,770.64
20/07/2016
-196.40
CHF
-17,126.00
20/07/2016
-289.42
USD
-148,295.00
20/07/2016
589.16 -397,897.50
UBAM - DR. EHRHARDT GERMAN EQUITY Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH USD USD
133,109.00
USD
3,532.00
EUR
4,058.55
EUR
3,595.52
USD
4,219.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-117,214.69
27/07/2016
2,502.38
EUR
-3,133.43
27/07/2016
43.22
USD
-4,464.00
27/07/2016
43.71
USD
-3,977.00
27/07/2016
18.66
EUR
-3,796.80
27/07/2016
-2.27 2,605.70
Page 363
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - EUROPE EQUITY Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH USD and IH USD USD
31,375,276.00
USD
1,181,485.00
EUR
1,583,687.61
EUR
1,261,981.74
USD
92,766.00
USD
653,239.00
USD
931,497.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-27,628,809.44
27/07/2016
589,839.81
EUR
-1,048,205.65
27/07/2016
14,411.64
USD
-1,741,898.00
27/07/2016
17,054.04
USD
-1,395,878.00
27/07/2016
6,546.85
EUR
-83,452.68
05/07/2016
46.04
EUR
-587,181.12
27/07/2016
336.33
EUR
-838,280.24
27/07/2016
-499.97 627,734.74
UBAM - EUROPE EQUITY DIVIDEND + Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH USD and IH USD USD
871,665.57
USD
240,538.45
USD
121,692.93
EUR
110,336.00
GBP
26,414.00
CHF
18,414.00
CHF
11,483.00
GBP
15,070.00
EUR
76,264.00
USD
15,948.28
USD
26,132.94
GBP
5,694.00
USD
4,181.32
USD
13,803.13
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-770,942.00
20/07/2016
13,228.00
GBP
-168,521.00
20/07/2016
13,712.89
CHF
-117,385.00
20/07/2016
967.80
USD
-124,216.27
20/07/2016
-1,412.54
USD
-37,521.09
20/07/2016
-1,986.72
USD
-19,179.25
20/07/2016
-232.50
USD
-11,976.43
20/07/2016
-159.59
USD
-21,525.23
20/07/2016
-1,239.97 -1,072.44
USD
-85,964.78
20/07/2016
GBP
-11,688.00
20/07/2016
289.92
EUR
-23,781.00
20/07/2016
-271.22
USD
-7,567.90
20/07/2016
40.18
CHF
-4,091.00
20/07/2016
-20.05
GBP
-10,374.00
20/07/2016
-59.66 21,784.10
Forward foreign exchange contracts linked to AH CHF CHF
434,705.30
CHF
119,960.55
GBP
2,754.00
CHF
4,239.20
CHF
5,850.35
GBP
4,128.00
CHF
9,237.95
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-398,538.00
20/07/2016
3,299.09
GBP
-87,111.00
20/07/2016
6,121.10
CHF
-3,759.50
20/07/2016
-162.81
GBP
-3,021.00
20/07/2016
285.32
GBP
-4,454.00
20/07/2016
51.02
CHF
-5,377.95
20/07/2016
-6.40
GBP
-7,122.00
20/07/2016
-26.47 9,560.85
Forward foreign exchange contracts linked to IH GBP GBP
275,089.01
GBP
38,362.68
CHF
1,807.00
GBP
1,582.51
CHF
2,805.00
CHF
1,982.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-347,006.00
20/07/2016
-16,144.95
CHF
-52,835.00
20/07/2016
-2,698.46
GBP
-1,328.68
20/07/2016
72.34
CHF
-2,222.00
20/07/2016
-150.58
GBP
-2,135.52
20/07/2016
24.45
GBP
-1,537.15
20/07/2016
-16.66
Page 364
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to IH GBP EUR
18,800.00
GBP
1,480.08
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
GBP
-15,675.44
20/07/2016
CHF
-1,958.00
20/07/2016
-53.53 -29.79 -18,997.18
Forward foreign exchange contracts linked to AH EUR and IH EUR EUR
32,549.06
EUR
64,317.81
CHF
1,085.00
GBP
2,003.00
EUR
2,395.32
EUR
3,094.54
GBP
2,297.00
EUR
2,054.84
EUR
2,954.22
EUR
1,395.48
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-35,498.00
20/07/2016
-264.80
GBP
-50,959.00
20/07/2016
3,028.70
EUR
-1,005.70
20/07/2016
-2.74
EUR
-2,528.40
20/07/2016
-119.31
GBP
-1,842.00
20/07/2016
179.96
GBP
-2,527.00
20/07/2016
55.24
EUR
-2,760.15
20/07/2016
2.55
GBP
-1,690.00
20/07/2016
22.22
GBP
-2,465.00
20/07/2016
-10.55
CHF
-1,509.00
20/07/2016
0.58 2,891.85
UBAM - GCM MIDCAP US EQUITY GROWTH Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts linked to AH EUR EUR
1,253,276.00
EUR
15,593.00
USD
36,197.76
USD
34,124.82
EUR
46,367.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-1,422,844.24
27/07/2016
-29,372.61
USD
-17,632.56
27/07/2016
-295.28
EUR
-32,931.00
27/07/2016
-416.66
EUR
-30,878.00
27/07/2016
-207.12
USD
-51,574.01
27/07/2016
-20.24 -30,311.91
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
485,422.00
CHF
5,983.00
USD
12,737.30
USD
12,302.67
CHF
17,919.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-506,333.58
27/07/2016
-7,316.97
USD
-6,254.44
27/07/2016
-103.88
CHF
-12,466.00
27/07/2016
-77.69
CHF
-12,056.00
27/07/2016
-90.83
USD
-18,414.35
27/07/2016
6.49 -7,582.88
Page 365
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH (1) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to APH EUR EUR
16,188.34
EUR
25,173.55
EUR
18,508.46
EUR
32,334.38
EUR
9,816.85
EUR
325,645.65
CHF
658.00
DKK
7,762.00
GBP
1,302.00
NOK
3,830.00
EUR
1,791.94
EUR
460.67
EUR
562.48
EUR
1,713.82
EUR
1,520.94
HKD
11,185.00
GBP
2,627.00
NOK
3,647.00
CHF
656.00
USD
17,507.00
CHF
535.00
DKK
5,152.00
GBP
1,807.00
NOK
4,691.00
EUR
898.31
EUR
467.83
EUR
1,549.03
EUR
2,289.26
EUR
333.77
EUR
1,069.03
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-17,655.00
20/07/2016
-146.31
GBP
-19,945.00
20/07/2016
1,316.94
DKK
-137,603.00
20/07/2016
14.15
HKD
-283,621.00
20/07/2016
-625.00
NOK
-91,657.00
20/07/2016
-40.97
USD
-368,061.00
20/07/2016
-6,080.62
EUR
-609.91
20/07/2016
-1.85
EUR
-1,044.11
20/07/2016
-0.87
EUR
-1,643.52
20/07/2016
-86.16
EUR
-409.64
20/07/2016
2.34
GBP
-1,378.00
20/07/2016
149.57
NOK
-4,318.00
20/07/2016
-3.94
CHF
-609.00
20/07/2016
-0.52
HKD
-14,816.00
20/07/2016
-5.18
GBP
-1,242.00
20/07/2016
30.16
EUR
-1,311.25
20/07/2016
-15.46
EUR
-3,153.66
20/07/2016
6.60
EUR
-385.89
20/07/2016
6.88
EUR
-610.29
20/07/2016
-4.32
EUR
-15,931.39
20/07/2016
-201.86
EUR
-493.72
20/07/2016
0.92
EUR
-692.72
20/07/2016
-0.25
EUR
-2,174.49
20/07/2016
-1.26
EUR
-498.19
20/07/2016
6.81
DKK
-6,683.00
20/07/2016
0.03
CHF
-509.00
20/07/2016
-2.98
GBP
-1,274.00
20/07/2016
18.60
HKD
-19,754.00
20/07/2016
-2.20
NOK
-3,114.00
20/07/2016
-1.11
GBP
-892.00
20/07/2016
-4.24 -5,672.10
Page 366
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - GLOBAL EQUITY INCOME Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH USD USD
1,206,697.00
USD
23,250.00
USD
27,089.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-1,062,607.43
27/07/2016
22,685.31
EUR
-20,573.40
27/07/2016
337.45
EUR
-24,378.15
27/07/2016
-14.54 23,008.22
Forward foreign exchange contracts linked to AH CHF CHF
177,550.00
CHF
3,344.00
CHF
3,885.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-163,219.34
27/07/2016
939.68
EUR
-3,091.72
27/07/2016
0.07
EUR
-3,593.06
27/07/2016
-1.07 938.68
Forward foreign exchange contracts linked to AH CHF CHF
3,314,527.00
USD
225,019.91
CHF
236,344.00
USD
105,692.68
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-3,448,680.68
27/07/2016
-41,327.86
CHF
-220,407.00
01/07/2016
-1,221.57
USD
-241,747.05
27/07/2016
1,215.94
CHF
-103,415.00
27/07/2016
-617.55 -41,951.04
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in JPY)
Forward foreign exchange contracts linked to APH CHF CHF
2,412,432.00
CHF
60,629.00
JPY
14,628,554.00
CHF
80,835.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-262,792,157.00
27/07/2016
-8,550,249.00
JPY
-6,625,396.00
27/07/2016
-235,814.00 -229,949.00
CHF
-140,990.00
27/07/2016
JPY
-8,517,465.00
27/07/2016
1,592.00 -9,014,420.00
Forward foreign exchange contracts linked to APH USD and IPH USD USD
5,809,356.00
USD
138,338.00
JPY
34,060,473.00
JPY
211,448.00
USD
179,153.00
USD
23,365.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-606,293,439.00
27/07/2016
JPY
-14,445,946.00
27/07/2016
-10,734,676.00 -263,925.00
USD
-335,720.00
27/07/2016
-356,843.00
USD
-2,082.00
01/07/2016
-2,144.00
JPY
-18,388,264.00
27/07/2016
-22,005.00
JPY
-2,399,586.00
06/07/2016
-2,714.00 -11,382,307.00
Forward foreign exchange contracts linked to APH EUR, IPH EUR and RH EUR EUR
13,152,984.00
EUR
315,124.00
JPY
97,223,522.00
EUR
35,743.00
EUR
12,856.00
JPY
1,430,487.00
EUR
12,856.00
EUR
405,958.00
EUR
18,605.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-1,558,089,332.00
27/07/2016
-58,845,520.00
JPY
-37,115,305.00
27/07/2016
-1,195,874.00
EUR
-871,569.00
27/07/2016
-2,122,096.00
JPY
-3,987,847.00
01/07/2016
85,868.00
JPY
-1,430,487.00
05/07/2016
34,747.00
EUR
-12,856.00
05/07/2016
-34,747.00
JPY
-1,456,199.00
05/07/2016
9,035.00
JPY
-46,206,140.00
27/07/2016
67,011.00
JPY
-2,117,342.00
06/07/2016
3,129.00 -61,998,447.00
Page 367
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to APH GBP GBP
395,878.00
GBP
9,793.00
JPY
3,289,635.00
GBP
12,533.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-60,684,139.00
27/07/2016
-6,422,251.00
JPY
-1,499,700.00
27/07/2016
-157,401.00
GBP
-24,647.00
27/07/2016
-88,709.00
JPY
-1,708,624.00
27/07/2016
9,239.00 -6,659,122.00
UBAM - AJO US EQUITY VALUE (1) Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts linked to AH EUR, IH EUR and RH EUR EUR
18,965,640.00
USD
9,503.42
EUR
207,872.00
USD
641,725.05
USD
581,655.92
EUR
458,540.00
USD
108,493.52
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-21,531,691.09
27/07/2016
-444,491.38
EUR
-8,431.00
27/07/2016
129.20
USD
-235,061.66
27/07/2016
-3,936.41
EUR
-583,811.00
27/07/2016
-7,386.81
EUR
-526,314.00
27/07/2016
-3,530.32
USD
-510,125.75
27/07/2016
-291.94
EUR
-97,610.00
05/07/2016
50.06 -459,457.60
Forward foreign exchange contracts linked to IH GBP and UH GBP USD
-357,942.06
USD
-3,860.11
GBP
-7,883.00
GBP
-7,076.00
USD
-11,816.56
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
GBP
243,498.00
27/07/2016
-32,381.11
GBP
2,622.00
27/07/2016
-354.45
USD
10,393.74
27/07/2016
-145.94
USD
9,416.03
27/07/2016
-44.70
GBP
8,896.00
27/07/2016
77.54 -32,848.66
Forward foreign exchange contracts linked to AH CHF CHF
592,207.00
CHF
6,273.00
USD
18,456.12
USD
16,878.41
CHF
21,901.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-617,718.79
27/07/2016
-8,926.59
USD
-6,557.60
27/07/2016
-108.92
CHF
-18,063.00
27/07/2016
-112.57
CHF
-16,540.00
27/07/2016
-124.61
USD
-22,506.42
27/07/2016
7.93 -9,264.76
Page 368
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - SNAM JAPAN EQUITY VALUE Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in JPY)
Forward foreign exchange contracts linked to AH EUR, IH EUR and RH EUR EUR
149,803,766.00
EUR
4,470,250.00
EUR
3,653,419.00
EUR
2,404,117.00
JPY
1,088,591,574.00
EUR
9,525.00
JPY
113,672,876.00
EUR
1,021,595.00
JPY
115,716,066.00
JPY
30,568,268.00
EUR
69,366.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-17,745,604,317.00
27/07/2016
-670,211,452.00
JPY
-526,506,045.00
27/07/2016
-16,964,283.00
JPY
-431,943,728.00
27/07/2016
-15,508,505.00
JPY
-273,011,527.00
27/07/2016
1,021,919.00
EUR
-9,758,777.03
27/07/2016
-23,760,666.00
JPY
-1,062,704.00
01/07/2016
22,883.00
EUR
-1,021,595.01
05/07/2016
-2,761,143.00
JPY
-113,672,876.00
05/07/2016
2,761,152.00
EUR
-1,021,595.00
05/07/2016
-717,959.00
EUR
-268,331.00
05/07/2016
-14,163.00
JPY
-7,894,198.00
06/07/2016
11,665.00 -726,120,552.00
Forward foreign exchange contracts linked to AH USD and IH USD USD
56,131,641.00
USD
1,670,251.00
JPY
38,015,702.00
JPY
386,245,577.00
USD
32,002.00
USD
73,478.00
USD
46,459.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-5,858,178,713.00
27/07/2016
-103,721,471.00
JPY
-174,415,961.00
27/07/2016
-3,186,548.00
USD
-372,010.00
27/07/2016
-121,794.00
USD
-3,807,063.02
27/07/2016
-4,046,599.00
JPY
-3,250,443.00
01/07/2016
32,643.00
JPY
-7,543,986.00
05/07/2016
-6,102.00
JPY
-4,769,481.00
05/07/2016
-3,394.00 -111,053,265.00
Forward foreign exchange contracts linked to AH SEK SEK
715,265.00
SEK
21,523.00
JPY
581,302.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-9,062,408.00
27/07/2016
-399,363.00
JPY
-272,460.00
27/07/2016
-11,781.00
SEK
-48,993.00
27/07/2016
-12,081.00 -423,225.00
Forward foreign exchange contracts linked to AH GBP and IH GBP GBP
77,754.00
GBP
2,281.00
JPY
744,896.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-11,918,911.00
27/07/2016
-1,261,388.00
JPY
-349,312.00
27/07/2016
-36,662.00
GBP
-5,581.00
27/07/2016
-20,087.00 -1,318,137.00
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
7,999,766.00
CHF
240,733.00
JPY
53,443,764.00
JPY
2,515,450.00
CHF
12,580.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
JPY
-871,434,205.00
27/07/2016
-28,353,127.00
JPY
-26,306,742.00
27/07/2016
-936,320.00
CHF
-515,091.00
27/07/2016
-840,094.00
CHF
-24,259.00
01/07/2016
-39,162.00
JPY
-1,324,350.00
06/07/2016
482.00 -30,168,221.00
Page 369
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - SWISS EQUITY Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in CHF)
Forward foreign exchange contracts CHF
1,509,700.00
UNION BANCAIRE PRIVEE GENEVE
USD
-1,550,000.00
06/07/2016
-138.78 -138.78
Forward foreign exchange contracts linked to AH EUR, IH EUR and UH EUR EUR
36,085,621.00
EUR
921,990.00
CHF
884,308.90
CHF
1,220,921.30
EUR
796,837.00
EUR
1,192,496.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-39,259,351.35
27/07/2016
-230,105.96
CHF
-996,302.40
27/07/2016
897.40
EUR
-822,766.00
27/07/2016
-5,576.51
EUR
-1,127,143.00
27/07/2016
1,834.85
CHF
-867,675.80
27/07/2016
-5,838.15
CHF
-1,290,519.15
27/07/2016
-747.28 -239,535.65
Forward foreign exchange contracts linked to AH USD, IH USD and UH USD USD
78,389,075.00
USD
2,501,469.00
CHF
2,303,328.80
CHF
2,190,854.55
USD
1,747,810.00
USD
2,256,285.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-75,167,284.00
27/07/2016
1,086,295.87
CHF
-2,397,032.65
27/07/2016
36,290.69
USD
-2,357,070.00
27/07/2016
10,487.63
USD
-2,238,078.00
27/07/2016
13,768.61
CHF
-1,711,106.00
27/07/2016
-10,910.28
CHF
-2,198,298.50
27/07/2016
-3,479.79 1,132,452.73
Forward foreign exchange contracts linked to AH GBP GBP
63,241.00
GBP
1,607.00
GBP
126,221.00
GBP
59,395.00
CHF
9,536.55
CHF
10,168.60
GBP
5,310.00
GBP
157,688.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-89,021.85
27/07/2016
CHF
-2,259.45
27/07/2016
-6,771.02 -169.40
CHF
-177,883.25
27/07/2016
-13,721.04
CHF
-78,217.30
27/07/2016
-968.55
GBP
-7,399.00
27/07/2016
-86.66
GBP
-7,798.00
27/07/2016
26.61
CHF
-7,026.20
27/07/2016
-120.05
CHF
-204,994.40
27/07/2016
93.59 -21,716.52
Forward foreign exchange contracts linked to AH CHF and IH CHF CHF
796,793.95
CHF
1,667,314.45
CHF
48,655.55
USD
74,539.00
EUR
39,237.00
EUR
63,967.00
CHF
53,950.60
CHF
23,029.80
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-730,501.00
20/07/2016
6,544.77
USD
-1,727,787.00
20/07/2016
-14,194.14
EUR
-45,089.00
20/07/2016
-121.55
CHF
-72,981.15
20/07/2016
-439.25
CHF
-42,215.10
20/07/2016
231.29 -166.62
CHF
-69,365.80
20/07/2016
USD
-55,442.00
20/07/2016
-5.93
EUR
-21,315.00
20/07/2016
-28.67 -8,180.10
Page 370
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - SWISS SMALL AND MID CAP EQUITY Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH EUR EUR
4,122,275.00
EUR
128,725.00
CHF
109,636.05
CHF
179,553.45
EUR
105,877.00
EUR
90,856.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-4,484,829.10
27/07/2016
CHF
-139,100.25
27/07/2016
-26,286.39 125.28
EUR
-102,006.00
27/07/2016
-691.37
EUR
-165,655.00
27/07/2016
385.69
CHF
-115,289.47
27/07/2016
-775.73
CHF
-98,324.35
27/07/2016
-56.92 -27,299.44
Forward foreign exchange contracts linked to AH USD and IH USD USD
11,960,144.00
USD
318,662.00
CHF
285,826.10
CHF
457,145.30
USD
306,107.00
USD
266,448.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CHF
-11,468,582.10
27/07/2016
165,740.61
CHF
-305,294.15
27/07/2016
4,686.78
USD
-292,495.00
27/07/2016
1,301.43
USD
-466,999.00
27/07/2016
2,872.95
CHF
-299,678.75
27/07/2016
-1,910.79
CHF
-259,600.30
27/07/2016
-410.94 172,280.04
UBAM - MULTIFUNDS ALLOCATION 30 Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts linked to AH EUR EUR
34,380,391.00
EUR
228,803.00
USD
130,059.99
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-38,677,939.88
27/07/2016
-451,643.73
USD
-252,095.15
01/07/2016
2,093.54
EUR
-117,712.00
05/07/2016
-716.51 -450,266.70
Forward foreign exchange contracts linked to AH GBP GBP
-3,333,257.00
UNION BANCAIRE PRIVEE GENEVE
USD
-4,731,558.31
27/07/2016
-274,937.18 -274,937.18
Forward foreign exchange contracts linked to AH CHF CHF
7,096,667.00
UNION BANCAIRE PRIVEE GENEVE
USD
-7,383,900.74
27/07/2016
-88,486.24 -88,486.24
UBAM - MULTIFUNDS ALLOCATION 50 Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts linked to AH EUR EUR
32,856,177.00
USD
125,269.95
USD
204,344.77
EUR
185,515.00
USD
171,780.20
USD
926,006.90
EUR
164,660.00
USD
182,789.07
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-36,963,199.13
27/07/2016
-431,620.64
EUR
-112,239.00
27/07/2016
475.15
EUR
-185,515.00
01/07/2016
-1,753.12
USD
-204,595.22
27/07/2016
1,672.11
EUR
-155,415.00
27/07/2016
-1,019.17
EUR
-832,478.00
27/07/2016
404.97
USD
-182,937.26
27/07/2016
142.16
EUR
-164,660.00
06/07/2016
-152.18 -431,850.72
Page 371
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Forward foreign exchange contracts linked to AH GBP GBP
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
5,210,925.00
GBP
97,384.00
USD
158,623.61
USD
215,475.77
USD
-7,396,908.04
27/07/2016
-429,812.96
USD
-128,546.88
01/07/2016
1,636.33
GBP
-120,133.00
27/07/2016
-1,995.93
GBP
-159,352.00
27/07/2016
2,419.05 -427,753.51
Forward foreign exchange contracts linked to AH CHF CHF
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
3,314,527.00
USD
225,019.91
CHF
236,344.00
USD
105,692.68
USD
-3,448,680.68
27/07/2016
-41,327.86
CHF
-220,407.00
01/07/2016
-1,221.57
USD
-241,747.05
27/07/2016
1,215.94
CHF
-103,415.00
27/07/2016
-617.55 -41,951.04
UBAM - MULTIFUNDS ALLOCATION 70 Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts linked to AH EUR EUR
7,428,055.00
EUR
844,169.00
USD
834,265.09
USD
221,885.66
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-8,356,561.88
27/07/2016
-97,579.89
USD
-930,991.78
27/07/2016
7,608.78
EUR
-757,390.00
01/07/2016
-7,157.33
EUR
-200,747.00
27/07/2016
-1,316.45 -98,444.89
Forward foreign exchange contracts linked to AH GBP GBP
829,808.00
USD
22,692.59
USD
24,372.25
USD
20,991.55
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-1,177,912.46
27/07/2016
-68,445.09
GBP
-16,649.00
27/07/2016
432.53
GBP
-18,268.00
27/07/2016
-52.36
GBP
-15,524.00
27/07/2016
235.66 -67,829.26
UBAM - MULTIFUNDS ALTERNATIVE Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in USD)
Forward foreign exchange contracts USD
16,102,125.00
USD
254,090.50
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
EUR
-14,313,000.00
27/07/2016
GBP
-179,000.00
27/07/2016
187,873.44 14,762.10 202,635.54
Forward foreign exchange contracts linked to AH EUR, IH EUR and UH EUR EUR
32,797,202.00
EUR
386,297.00
USD
436,457.67
USD
257,748.83
EUR
281,501.00
USD
55,322.42
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-36,896,852.25
27/07/2016
-430,845.90
USD EUR
-436,052.05
01/07/2016
-6,895.40
-386,297.00
27/07/2016
6,942.57
EUR
-231,726.00
27/07/2016
101.15
USD
-312,930.59
08/07/2016
-155.23
EUR
-49,775.00
06/07/2016
21.18 -430,831.63
Forward foreign exchange contracts linked to IH GBP and UH GBP GBP
5,623,236.00
GBP
150,264.00
USD
220,910.62
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
USD
-7,982,183.50
27/07/2016
-463,821.62
USD
-220,888.08
01/07/2016
-20,014.74
GBP
-150,264.00
27/07/2016
20,001.90 -463,834.46
Page 372
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - ASYMMETRY 50 EUR Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts EUR
1,646,370.50
EUR
7,374,890.25
EUR
34,951,712.03
EUR
46,352.09
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CAD
-2,420,000.00
14/09/2016
-26 928.25
USD
-8,400,000.00
14/09/2016
-167 289.06
USD
-39,810,000.00
14/09/2016
-792 830.62
CHF
-50,000.00
14/09/2016
83.35 -986,964.58
UBAM - ASYMMETRY 50 USD Currency
Purchases
Counterparty
Currency
Sales
Maturity
Unrealised result (in EUR)
Forward foreign exchange contracts USD
1,039,755.35
USD
3,643,200.00
UNION BANCAIRE PRIVEE GENEVE UNION BANCAIRE PRIVEE GENEVE
CAD
-1,360,000.00
14/09/2016
-7,582.38
EUR
-3,200,000.00
14/09/2016
78,839.97 71,257.59
(1)
Please refer to Note 18 for more details on events concerning this sub-fund. This sub-fund acts as Feeder in a Master-Feeder structure, please refer to Note 16 and "AGGREGATE CHARGES WITHIN MASTER-FEEDER STRUCTURES" in chapter of the prospectus dated April 2016, in order to obtain complete information about aggregate fees.
(2)
Note 9 - Futures contracts As at 30th June 2016, the following futures contracts are outstanding: UBAM - CORPORATE EURO BOND Number of contracts Purchase Sale Sale Purchase Sale Purchase Sale Purchase
96 6 38 55 6 66 7 7
Denomination
Currency
Commitment (in EUR)
EURO SCHATZ 09/16 EUX EURO SCHATZ FUTURE 09/16 EUX US 5 YEARS 09/16 CBOT EURO BOBL FUTURE 09/16 EUX EURO BOBL FUTURE 09/16 EUX EURO BUND FUTURE 09/16 EUX EURO BUND FUTURE 09/16 EUX EURO BUXL FUTURE 09/16 EUX
EUR EUR USD EUR EUR EUR EUR EUR
10,758,240.00 -672,390.00 -4,178,616.84 7,348,000.00 -801,600.00 11,029,920.00 -1,169,840.00 1,373,120.00
Unrealised result (in EUR) 24,195.00 -1,370.00 -10,956.28 45,420.00 -6,660.00 183,810.00 -21,290.00 117,820.00 330,968.72
Page 373
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - CORPORATE US DOLLAR BOND Number of contracts Sale Sale Sale Purchase Sale Sale Purchase Sale Sale
553 14 3 448 10 2 398 24 4
Denomination
Currency
Commitment (in USD)
US 5 YEARS 09/16 CBOT US 5 YEARS 09/16 CBOT US 5 YEARS 09/16 CBOT US 2 YEARS 09/16 CBOT US 2 YEARS 09/16 CBOT US 2 YEARS 09/16 CBOT US 10 YEARS 09/16 US 10 YEARS 09/16 US 10 YEARS 09/16
USD USD USD USD USD USD USD USD USD
-67,556,726.56 -1,710,296.88 -366,492.19 98,259,000.00 -2,193,281.25 -438,656.25 52,927,781.25 -3,191,625.00 -531,937.50
Unrealised result (in USD) -193,356.37 -31,062.50 -6,656.25 521,015.63 -15,625.00 -3,125.00 203,421.88 -82,445.31 -14,093.75 378,073.33
UBAM - DYNAMIC EURO BOND Number of contracts Sale Sale
427 4
Denomination
Currency
Commitment (in EUR)
EURO BOBL FUTURE 09/16 EUX EURO SCHATZ FUTURE 09/16 EUX
EUR EUR
-47,851,755.00 -534,400.00
Unrealised result (in EUR) -103,365.00 -4,840.00 -108,205.00
UBAM - DYNAMIC US DOLLAR BOND Number of contracts Sale
513
Denomination
Currency
Commitment (in USD)
US 2 YEARS NOTE 09/16 CBOT
USD
-112,515,328.13
Unrealised result (in USD) -725,218.75 -725,218.75
UBAM - EMERGING MARKET BOND Number of contracts Purchase Sale Sale Sale Purchase Sale Sale Sale Sale Sale Sale Sale Sale Sale Sale Sale Sale
27 5 11 4 2 1 2 90 8 1 6 4 2 1 1 2 1
Denomination
Currency
Commitment (in USD)
US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US TREASURY BOND 09/16 CBOT US TREASURY BOND 09/16 CBOT US TREASURY BOND 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
3,298,429.69 -610,820.31 -1,343,804.69 -488,656.25 438,656.25 -219,328.13 -438,656.25 -11,968,593.75 -1,063,875.00 -132,984.38 -797,906.25 -531,937.50 -344,687.50 -172,343.75 -172,343.75 -372,750.00 -186,375.00
Unrealised result (in USD) 10,757.81 -11,132.81 -24,492.19 -8,906.25 843.75 -1,562.50 -3,125.00 -192,750.00 -28,250.00 -671.88 -21,187.50 -11,265.63 -3,812.50 -9,671.88 -9,671.88 -6,725.00 -11,875.00 -333,498.46
Page 374
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - EMERGING MARKET CORPORATE BOND Number of contracts Purchase Sale Sale Sale Purchase Sale Sale Sale Sale Sale Sale Sale Sale Sale Sale Sale Sale
27 5 11 4 2 1 2 90 8 1 6 4 2 1 1 2 1
Denomination
Currency
Commitment (in USD)
US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US TREASURY BOND 09/16 CBOT US TREASURY BOND 09/16 CBOT US TREASURY BOND 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT
USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
3,298,429.69 -610,820.31 -1,343,804.69 -488,656.25 438,656.25 -219,328.13 -438,656.25 -11,968,593.75 -1,063,875.00 -132,984.38 -797,906.25 -531,937.50 -344,687.50 -172,343.75 -172,343.75 -372,750.00 -186,375.00
Unrealised result (in USD) 10 757.81 -11 132.81 -24 492.19 -8 906.25 843.75 -1 562.50 -3 125.00 -192 750.00 -28 250.00 -671.88 -21 187.50 -11 265.63 -3 812.50 -9 671.88 -9 671.88 -6 725.00 -11 875.00 -333,498.46
UBAM - EURO BOND Number of contracts Sale Purchase Purchase Purchase
13 11 14 9
Denomination
Currency
Commitment (in EUR)
EURO FUTURE 09/16 EUX SCHATZ EURO FUTURE 09/16 EUX BOBL EURO FUTURE 09/16 EUX BUND EURO FUTURE 09/16 EUX BUXL
EUR EUR EUR EUR
-1,456,845.00 1,469,600.00 2,339,680.00 1,765,440.00
Unrealised result (in EUR) -3,510.00 13,200.00 50,120.00 151,740.00 211,550.00
UBAM - GLOBAL AGGREGATE BOND Number of contracts Purchase Sale Sale Purchase Sale Sale Purchase Purchase Purchase Purchase Purchase Purchase
16 1 7 20 5 7 13 2 3 14 2 2
(1)
Denomination
Currency
Commitment (in USD)
10 YEARS MINI JG 09/16 SIMEX CAN 10 YEARS BOND (MSE) 09/16 ME EURO SCHATZ FUTURE 09/16 EUX US 5 YEARS NOTE 09/16 CBOT EURO BOBL FUTURE 09/16 EUX EURO BUND FUTURE 09/16 EUX US 2 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US TREASURY BOND 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT AUSTR 10 YEARS BOND 09/16 AUSTR 3 YEARS BOND 09/16
JPY CAD EUR USD EUR EUR USD USD USD USD AUD AUD
2,383,545.34 -113,990.18 -871,490.28 2,443,281.25 -742,114.60 -1,299,633.75 2,851,265.63 265,968.75 517,031.25 2,609,250.00 202,829.63 168,554.79
Unrealised result (in USD) 12,476.85 -2,879.78 -1,499.78 7,308.78 -6,721.25 -20,497.03 15,109.38 3,406.25 7,031.25 101,343.75 3,438.48 328.07 118,844.97
Page 375
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - GLOBAL CREDIT OPPORTUNITIES Number of contracts Sale Purchase Sale Sale Sale Sale Purchase
9 252 323 102 30 19 72
Denomination
Currency
Commitment (in EUR)
EURO SCHATZ FUTURE 09/16 EUX US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT EURO BOBL FUTURE 09/16 EUX EURO BUND FUTURE 09/16 EUX US 2 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT
EUR USD USD EUR EUR USD USD
-1,008,585.00 27,710,827.44 -35,518,243.12 -13,627,200.00 -5,013,600.00 -3,751,054.84 8,618,637.20
Unrealised result (in EUR) -1,260.00 -79,492.52 -392,917.60 -120,200.00 -37,420.00 -26,131.91 203,120.08 -454,301.95
UBAM - GLOBAL HIGH YIELD SOLUTION Number of contracts Purchase
454
Denomination
Currency
Commitment (in USD)
US 2 YEARS NOTE 09/16 CBOT
USD
99,574,968.75
Unrealised result (in USD) -7,093.75 -7,093.75
UBAM - STERLING BOND Number of contracts Purchase
5
Denomination
Currency
Commitment (in GBP)
LONG GILT FUTURE 09/16 LIFFE
GBP
642,450.00
Unrealised result (in GBP) 29,750.00 29,750.00
UBAM - UNCONSTRAINED BOND Number of contracts Sale Sale Sale Sale Sale Purchase
83 168 143 35 39 82
Denomination
Currency
Commitment (in EUR)
EURO SCHATZ FUTURE 09/16 EUX US 5 YEARS NOTE 09/16 CBOT EURO BOBL FUTURE 09/16 EUX EURO BUND FUTURE 09/16 EUX US 2 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT
EUR USD EUR EUR USD USD
-9,301,395.00 -18,473,884.96 -19,104,800.00 -5,849,200.00 -7,699,533.62 9,815,670.15
Unrealised result (in EUR) -10,480.00 -201,819.83 -168,660.00 -33,110.00 -53,501.51 231,446.06 -236,125.28
UBAM - US DOLLAR BOND Number of contracts Purchase Purchase Purchase Sale Purchase
21 25 61 20 56
Denomination
Currency
Commitment (in USD)
US 5 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US TREASURY BOND 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT
USD USD USD USD USD
2,565,445.31 5,483,203.13 8,112,046.88 -3,446,875.00 10,437,000.00
Unrealised result (in USD) -328.13 18,843.75 85,453.13 -158,765.63 604,281.25 549,484.37
Page 376
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - EM INVESTMENT GRADE CORPORATE BOND Number of contracts Purchase Sale Sale Sale Sale Sale Sale Sale Purchase Sale Sale Sale
34 3 7 13 1 16 1 3 9 2 1 1
(1)
Denomination
Currency
Commitment (in USD)
US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT US 5 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 2 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US 10 YEARS NOTE 09/16 CBOT US TREASURY BOND 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT US ULTRA BOND 30 YEARS 09/16 CBOT
USD USD USD USD USD USD USD USD USD USD USD USD
4,153,578.13 -366,492.19 -855,148.44 -2,851,265.63 -219,328.13 -2,127,750.00 -132,984.38 -398,953.13 1,551,093.75 -372,750.00 -186,375.00 -186,375.00
Unrealised result (in USD) 13,546.88 -6,679.69 -15,585.94 -2,437.50 -1,562.50 -20,500.00 -671.88 -7,734.38 39,656.25 -6,725.00 -11,875.00 -11,875.00 -32,443.76
UBAM - EUROPE EQUITY DIVIDEND+ Number of contracts Purchase Purchase
197 1,023
Denomination
Currency
Commitment (in EUR)
DJ EURO STOXX 50 09/16 EUX VSTOXX MINI 07/16
EUR EUR
2,691,240.00 310,880.00
Unrealised result (in EUR) 22,210.00 -298,475.00 -276,265.00
UBAM - EUROPE EQUITY FLEX Number of contracts Purchase Sale
276 115
Denomination
Currency
Commitment (in EUR)
VSTOXX MINI 07/16 DJ EURO STOXX 50 09/16 EUX
EUR EUR
707,940.00 -3,283,250.00
Unrealised result (in EUR) -94,560.00 -79,470.00 -174,030.00
UBAM - ASYMMETRY 50 EUR Number of contracts Sale Purchase
50 16
Denomination
Currency
Commitment (in EUR)
S&P 500 EMINI INDEX 09/16 VIX FUTURE 50 07/16
USD USD
-4,703,632.03 244,475.45
Unrealised result (in EUR) -83,712.14 -29,731.31 -113,443.45
UBAM - ASYMMETRY 50 USD Number of contracts Sale Purchase
27 8
Denomination
Currency
Commitment (in EUR)
S&P 500 EMINI INDEX 09/16 VIX FUTURE 50 07/16
USD USD
-2,821,770.00 135,800.00
Unrealised result (in EUR) -50,220.00 -18,590.00 -68,810.00
(1)
Please refer to Note 18 for more details on events concerning this sub-fund.
Page 377
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Note 10 - Swap contracts The SICAV may enter into swaps contracts relating to any type of financial instrument or index (including "Total Return Swaps", “Interest Rate Swaps”, "Credit Default Swaps", "Inflation Swaps" or "Credit Spread Swaps"). As at 30th June 2016, the following Credit Default Swaps contracts are outstanding: UBAM - CORPORATE EURO BOND Protection
Nominal*
Unrealised result (in EUR)
Underlying
Counterparty
Maturity
Currency
Sale
CDX NA HY S26 V1 MKT
BNP PARIBAS LONDRES CLEARING
20/06/2021
USD
700,000.00
20,234.12
Sale
CDX EM S25 V1 MKT
J.P. MORGAN SECURITIES LLC ICE
20/06/2021
USD
2,000,000.00
-136,211.35
Sale
SOCIETE GENERALE EUR MM SN M100
JP MORGAN SECURITIES LD
20/12/2019
EUR
1,500,000.00
15,319.30
Sale
DEUTSCHE BK AG EUR MM SN
JP MORGAN SECURITIES LD
20/12/2019
EUR
1,000,000.00
-31,367.14
Sale
JPMORGAN CHASE USD XR SN M100
BARCLAYS BANK PLC LONDON
20/12/2020
USD
1,000,000.00
15,195.34
Sale
BHP BILLITON LTD USD SN B
JP MORGAN SECURITIES LD
20/12/2020
USD
1,300,000.00
-16,922.12
Sale
REPSOL YPF SA EUR MM SN M100
BARCLAYS BANK PLC LONDON
20/12/2020
EUR
1,000,000.00
-27,644.50
Sale
DEUTSCHE BK AG EUR MM SN
BARCLAYS BANK PLC LONDON
20/06/2021
EUR
500,000.00
-26,720.36 -188,116.71
UBAM - CORPORATE US DOLLAR BOND Protection
Currency
Nominal*
Unrealised result (in USD)
Underlying
Counterparty
Maturity
Sale
CDX NA HY S26 V1 MKT
BNP PARIBAS LONDRES CLEARING
20/06/2021
USD
4,200,000.00
134,874.60
Sale
CDX EM S25 V1 MKT
J.P. MORGAN SECURITIES LLC ICE
20/06/2021
USD
11,400,000.00
-862,546.80 3,586.92
Sale
BAY MOTOREN WERK EUR MM SN M100
JPMORGAN CHASE BANK, N.A. (EU)
20/09/2016
USD
2,000,000.00
Sale
ANGLO AMERN PLC EUR MM SN M100
NOMURA INT PLC
20/09/2016
USD
1,300,000.00
739.31
Sale
VOLKSWAGEN AG EUR MM SN M100
BARCLAYS BANK PLC LONDON
20/09/2016
USD
2,000,000.00
2,997.18
Sale
UBS AG EUR SU MM M
BARCLAYS BANK PLC LONDON
20/06/2018
USD
2,000,000.00
89,658.16
Sale
GENERAL MOTORS USD XR SN
MORGAN STANLEY AND CO INTERN PLC
20/09/2020
USD
1,800,000.00
-45,681.76
Sale
VOLKSWAGEN AG EUR MM SN M100
GOLDMAN SACHS INTERN.
20/06/2021
EUR
2,000,000.00
-32,313.20
Sale
GLENCORE INTL AG EUR SN MM M
CREDIT SUISSE INTERNATIONAL LDN
20/06/2021
EUR
4,600,000.00
185,122.96 -523,562.63
UBAM - DYNAMIC EURO BOND Protection
Maturity
Currency
Nominal*
Unrealised result (in EUR)
Underlying
Counterparty
Sale
ASS GENERALI SPA EUR SU MM M
BNP PARIBAS LONDON BRANCH GB
20/12/2016
EUR
5,000,000.00
Sale
REP ITALY USD CR SN M
JP MORGAN SECURITIES LD
20/09/2016
USD
10,000,000.00
9,743.92
Sale
ASS GENERALI SPA EUR MM SU M100
JP MORGAN SECURITIES LD
20/09/2016
EUR
3,000,000.00
-4,010.14
Sale
REP ITALY USD CR SN M100
NOMURA INT PLC
20/12/2016
USD
10,000,000.00
20,659.04
Sale
CREDIT SUISSE GP EUR MM SU
MORGAN STANLEY AND CO INTERN PLC
20/12/2016
EUR
10,000,000.00
-20,520.23
33,424.32
Sale
UBS AG EUR MM SU
MORGAN STANLEY AND CO INTERN PLC
20/12/2016
EUR
10,000,000.00
7,866.09
Sale
UBS AG EUR MM SU
BNP PARIBAS LONDON BRANCH GB
20/03/2017
EUR
8,000,000.00
3,224.76
Sale
REP ITALY USD CR SN M
BARCLAYS BANK PLC LONDON
20/03/2018
USD
10,000,000.00
25,190.92
Sale
DEUTSCHE BK AG EUR MM SN M100
GOLDMAN SACHS INTERN.
20/09/2018
EUR
6,000,000.00
-67,261.45
Sale
BCO SANTANDER SA EUR MM SN
CITIGROUP GLOBAL MARKETS LTD LDN
20/12/2017
EUR
3,000,000.00
-1,275.55
Sale
BNP PARIBAS EUR MM SU
GOLDMAN SACHS INTERN.
20/12/2017
EUR
2,500,000.00
-9,985.89
Sale
KDOM SPAIN USD CR SN M
NOMURA INT PLC
20/12/2018
USD
1,100,000.00
8,500.32
Sale
SOCIETE GENERALE EUR MM SU
JP MORGAN SECURITIES LD
20/12/2017
EUR
2,500,000.00
-8,099.14
Sale
BCO BILBAO VIZCA EUR MM SN
SGR SOCIETE GENERALE PARIS
20/12/2017
EUR
5,000,000.00
6,145.51
Sale
ASS GENERALI SPA EUR SU MM M
GOLDMAN SACHS INTERN.
20/12/2017
EUR
1,000,000.00
-13,688.46
Sale
ENEL S P A EUR MM SN M100
BARCLAYS BANK PLC LONDON
20/12/2017
EUR
3,000,000.00
28,745.34
Sale
BCO BILBAO VIZCA EUR MM SN
JP MORGAN SECURITIES LD
20/06/2017
EUR
2,000,000.00
4,434.90
Sale
BCO BILBAO VIZCA EUR MM SN
JP MORGAN SECURITIES LD
20/12/2016
EUR
2,000,000.00
3,199.23
Sale
BCO SANTANDER SA EUR MM SN
JP MORGAN SECURITIES LD
20/12/2016
EUR
2,000,000.00
1,926.87
Sale
CREDIT SUISSE GP EUR SN MM M
CITIGROUP GLOBAL MARKETS LTD LDN
20/12/2016
EUR
5,000,000.00
135.08
Sale
CREDIT SUISSE GP EUR SN MM M
CITIGROUP GLOBAL MARKETS LTD LDN
20/06/2017
EUR
3,000,000.00
-3,707.47
Sale
MORGAN STANLEY USD XR SN M100
CREDIT SUISSE INTERNATIONAL LDN
20/06/2018
USD
5,000,000.00
35,427.17
Page 378
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Sale
BNP PARIBAS EUR MM SU
JP MORGAN SECURITIES LD
20/06/2018
EUR
5,000,000.00
-33,621.18
Sale
COMMERZBANK AG EUR MM SU
JP MORGAN SECURITIES LD
20/06/2018
EUR
5,000,000.00
-129,190.07 -102,736.11
UBAM - DYNAMIC US DOLLAR BOND Protection
Maturity
Currency
Nominal*
Unrealised result (in USD)
Underlying
Counterparty
Sale
ASS GENERALI SPA EUR SU MM M
BNP PARIBAS LONDON BRANCH GB
20/12/2016
EUR
3,000,000.00
Sale
REP ITALY USD CR SN M
JP MORGAN SECURITIES LD
20/09/2016
USD
5,000,000.00
5,412.51
Sale
REP ITALY USD CR SN M100
JP MORGAN SECURITIES LD
20/09/2016
USD
10,000,000.00
10,825.01
Sale
CREDIT SUISSE GP EUR MM SU
BARCLAYS BANK PLC LONDON
20/12/2016
EUR
6,200,000.00
-14,134.12
Sale
UBS AG EUR MM SU
NOMURA INT PLC
20/12/2016
EUR
6,200,000.00
5,418.07
Sale
UBS AG EUR MM SU
BNP PARIBAS LONDON BRANCH GB
20/03/2017
EUR
5,000,000.00
2,239.11 55,971.67
22,279.65
Sale
REP ITALY USD CR SN M100
BARCLAYS BANK PLC LONDON
20/03/2018
USD
20,000,000.00
Sale
BCO SANTANDER SA EUR MM SN
CITIGROUP GLOBAL MARKETS LTD LDN
20/12/2017
EUR
4,500,000.00
-2,125.62
Sale
BNP PARIBAS EUR MM SU
GOLDMAN SACHS INTERN.
20/12/2017
EUR
4,000,000.00
-17,750.12 31,934.65
Sale
ENEL S P A EUR MM SN M100
BARCLAYS BANK PLC LONDON
20/12/2017
EUR
3,000,000.00
Sale
REP ITALY USD CR SN M100
CREDIT SUISSE INTERNATIONAL LDN
20/06/2017
USD
10,000,000.00
37,741.68
Sale
ASS GENERALI SPA EUR MM SU
JP MORGAN SECURITIES LD
20/06/2017
EUR
3,000,000.00
-23,996.06
Sale
COMMERZBANK AG EUR MM SU
JP MORGAN SECURITIES LD
20/06/2018
EUR
3,000,000.00
-86,114.23
Sale
BNP PARIBAS EUR MM SU
JP MORGAN SECURITIES LD
20/06/2018
EUR
3,000,000.00
-22,410.87
Sale
UBS AG EUR MM SU
JP MORGAN SECURITIES LD
20/12/2017
EUR
5,000,000.00
-9,761.97
Sale
BCO SANTANDER SA EUR MM SN
SGR SOCIETE GENERALE PARIS
20/06/2017
EUR
5,000,000.00
7,010.83 2,540.19
UBAM - EMERGING MARKET BOND Protection Sale
Underlying
Counterparty
Maturity
Currency
Nominal*
ITRX ASIA EXJAP IG S25 V1 MKT
JP MORGAN SECURITIES LD
20/06/2021
USD
23,000,000.00
Unrealised result (in USD) -444,069.39 -444,069.39
UBAM - EMERGING MARKET CORPORATE BOND Protection Sale
Underlying
Counterparty
Maturity
Currency
Nominal*
ITRX ASIA EXJAP IG S25 V1 MKT
JP MORGAN SECURITIES LD
20/06/2021
USD
19,000,000.00
Unrealised result (in USD) -366,839.91 -366,839.91
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND Protection
Underlying
Counterparty
Maturity
Currency
Nominal*
Unrealised result (in USD)
Sale
CDX NA HY S25 V2 MKT
BARCLAYS BANK PLC LONDON
20/12/2020
USD
4,950,000.00
204,168.54
Sale
ITRAXX XOVER S25 V1 MKT
CITIGROUP GLOBAL MARKETS LTD LDN
20/06/2021
EUR
5,000,000.00
324,938.96 529,107.50
UBAM - EURO BOND Protection
Nominal*
Unrealised result (in EUR)
Underlying
Counterparty
Maturity
Currency
Sale
CDX EM S25 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
USD
300,000.00
Sale
CDX NA HY S26 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
USD
200,000.00
5,781.18
Sale
REP ITALY USD CR SN M100
BNP PARIBAS LONDON BRANCH GB
20/09/2017
USD
2,500,000.00
7,788.32
Sale
REP ITALY USD CR SN M100
JP MORGAN SECURITIES LD
20/06/2021
USD
1,200,000.00
-19,662.91
-20,431.70
-26,525.11
Page 379
UBAM
Notes to the financial statements as at 30th June 2016 (continued) UBAM - GLOBAL AGGREGATE BOND Protection
(1)
Nominal*
Unrealised result (in USD)
Underlying
Counterparty
Maturity
Currency
Sale
CDX NA HY S26 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
USD
1,000,000.00
32,113.00
Sale
CDX EM S25 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
USD
950,000.00
-71,878.90
Sale
CDX NA IG S26 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
USD
3,800,000.00
41,594.80
Sale
GLENCORE INTL AG EUR SN MM M
CREDIT SUISSE INTERNATIONAL LDN
20/06/2021
EUR
100,000.00
4,024.44 5,853.34
UBAM - GLOBAL CREDIT OPPORTUNITIES Protection
Currency
Nominal*
Unrealised result (in EUR)
Underlying
Counterparty
Maturity
Sale
CDX NA HY S26 V1 MKT
BNP PARIBAS LONDRES CLEARING
20/06/2021
USD
2,300,000.00
66,483.55
Sale
CDX EM S25 V1 MKT
J.P. MORGAN SECURITIES LLC ICE
20/06/2021
USD
6,400,000.00
-435,876.33 -369,392.78
UBAM - GLOBAL HIGH YIELD SOLUTION Protection
Nominal*
Unrealised result (in USD)
Underlying
Counterparty
Maturity
Currency
Sale
ITRAXX XOVER S25 V1 MKT
BNP PARIBAS LONDRES CLEARING
20/06/2021
EUR
351,000,000.00
Sale
ITRAXX XOVER S25 V1 MKT
GOLDMAN SACHS US CLEARING
20/06/2021
EUR
123,000,000.00
7,776,845.53
Sale
ICEICITRAXX XOVER S25 V1 MKT
J.P. MORGAN SECURITIES LLC ICE
20/06/2021
EUR
172,650,000.00
10,916,035.61 13,776,477.00
22,192,461.62
Sale
CDX NA HY S26 V1 MKT
GOLDMAN SACHS US CLEARING
20/06/2021
USD
429,000,000.00
Sale
CDX NA HY S26 V1 MKT
CITIBANK NY ICE
20/06/2021
USD
225,000,000.00
7,225,425.00
Sale
CDX NA HY S26 V1 MKT
BNP PARIBAS LONDRES CLEARING
20/06/2021
USD
700,000,000.00
22,479,100.00
Sale
CDX NA HY S26 V1 MKT
J.P. MORGAN SECURITIES LLC ICE
20/06/2021
USD
556,000,000.00
17,854,828.00
Sale
CDX NA HY S26 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
USD
670,500,000.00
21,531,766.50
Sale
ITRAXX XOVER S25 V1 MKT
CITIBANK NY ICE
20/06/2021
EUR
292,000,000.00
18,462,104.83
Sale
ITRAXX XOVER S25 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
EUR
195,000,000.00
12,329,145.35 154,544,189.44
UBAM - UNCONSTRAINED BOND Protection
Underlying
Counterparty
Maturity
Currency
Nominal*
Unrealised result (in USD)
Sale
CDX EM S25 V1 MKT
J.P. MORGAN SECURITIES LLC ICE
20/06/2021
USD
9 000 000.00
Sale
CDX NA HY S26 V1 MKT
BNP PARIBAS LONDRES CLEARING
20/06/2021
USD
3 300 000.00
-612 951.08 95 389.44
Sale
REP ITALY USD CR SN M100
NOMURA INT PLC
20/12/2016
USD
5 000 000.00
10 329.52
Sale
BCO SANTANDER SA EUR MM SN
SGR SOCIETE GENERALE PARIS
20/12/2017
EUR
4 000 000.00
-1 700.75
Sale
ENEL S P A EUR MM SN M100
BARCLAYS BANK PLC LONDON
20/12/2017
EUR
3 000 000.00
28 745.34 -480,187.53
UBAM - US DOLLAR BOND Protection
Underlying
Counterparty
Maturity
Currency
Nominal*
Unrealised result (in USD)
Sale
CDX NA HY S26 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
USD
1 100 000.00
35 324.30
Sale
CDX EM S25 V1 MKT
CREDIT SUISSE SECS NY ICE
20/06/2021
USD
1 800 000.00
-136 191.60
Sale
REP ITALY USD CR SN M100
CITIGROUP GLOBAL MARKETS LTD LDN
20/06/2021
USD
7 500 000.00
-136 528.12 -237,395.42
Page 380
UBAM
Notes to the financial statements as at 30th June 2016 (continued) The sale of protection through Credit Default Swaps allows the SICAV to receive a premium as the SICAV is exposed to the risk of default by an issuer. A payment default by the issuer may be offset by settlement either in cash or in kind. In the case of settlement in cash, the buyer of a Credit Default Swap for hedging purposes receives from the seller a sum equivalent to the difference between the face value and the redemption amount which is still recoverable. In the case of settlement in kind, the buyer of a Credit Default Swap for hedging purposes receives from the seller the entire face value, in exchange for which he hands over the defaulted security to the seller; alternatively the buyer and seller exchange securities selected from a basket whose composition is decided in detail when the Credit Default Swap contract is signed. Events of default are set out in the Credit Default Swap contract, as are the arrangements for the delivery of bonds and debt securities. The SICAV may, if necessary, re-sell the Credit Default Swap acquired for hedging purposes, or reproduce the credit risk by buying call options. *Nominal corresponds to the underlying exposure.
Note 11 - Options As at 30th June 2016, the SICAV is engaged in the following options contracts: UBAM - EMERGING MARKET BOND The counterparties of the below OTC options are JP MORGAN SECURITIES LD and UBS AG LONDON BRANCH. Currency
Quantity
Denomination
Commitment (in USD)
Options Currency options USD USD
1,400,000.00 1,400,000.00
USD(C)/HUF(P) CALL 278 07/16 USD(C)/PLN(P) CALL 3.95 07/16
389,200,000.00 5,530,750.00 394,730,750.00
UBAM - EUROPE EQUITY DIVIDEND+ The below options are listed with the broker Morgan Stanley and Co. International PLC. Currency
Quantity
Denomination
Commitment (in EUR)
Options issued Index options EUR
1,858.00
DJ EURO STOXX 50 CALL 2800 08/16
-52,024,000.00 -52,024,000.00
UBAM - EUROPE EQUITY FLEX The below options are listed with the broker Morgan Stanley and Co. International PLC. Currency
Quantity
Options issued Index options EUR EUR EUR EUR
49.00 27.00 27.00 45.00
Denomination
DJ EURO STOXX 50 PUT 2900 DJ EURO STOXX 50 PUT 2700 DJ EURO STOXX 50 CALL 3000 DJ EURO STOXX 50 PUT 2500
Commitment (in EUR)
07/16 08/16 08/16 08/16
1,421,000.00 729,000.00 -810,000.00 1,125,000.00 2,465,000.00
Page 381
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Options Index options EUR
49.00
DJ EURO STOXX 50 CALL 2900 07/16
1,421,000.00 1,421,000.00
UBAM - ASYMMETRY 50 EUR The below options are listed with the broker Morgan Stanley and Co. International PLC. Currency
Quantity
Options issued Index options USD 70.00
Denomination
SP 500 PUT 2000
Commitment (in EUR)
12/16
12,601,827.26 12,601,827.26
UBAM - ASYMMETRY 50 USD The below options are listed with the broker Morgan Stanley and Co. International PLC. Currency
Quantity
Options issued Index option USD 35.00
Denomination
SP 500 PUT 2000
12/16
Commitment (in USD)
7,000,000.00 7,000,000.00
Note 12 - Total expense ratio ("TER") and portfolio turnover rate ("PTR") The TER and the PTR are calculated for the last 12 months preceding the date of this report. Transaction fees are not taken into account in the calculation of the TER. The PTR has been calculated according to the following formula (Total 1 - Total 2)/M*100 with
Total 1 = Total securities transactions = X + Y X = Securities purchases Y = Securities sales Total 2 = Total subscriptions and redemptions = S + T S = subscriptions T = redemptions M = average net assets
If a performance-related fee is foreseen and has been calculated, the TER is disclosed including this fee. Moreover the performance fee ratio is calculated in percentage of the average net assets for the last 12 months preceding indicated reference date.
Page 382
UBAM
Notes to the financial statements as at 30th June 2016 (continued) TER As at 30th June 2016, the TER calculated for each Class of Shares is as follows:
Codes ISIN
Sub-fund and Class of share
TER in %
LU0095453105 LU0103635438 LU0447826933 LU0447827071 LU0570462951 LU0943504927 LU0132673327 LU0447827154 LU0782384613 LU0862299947 LU0132659920
UBAM - CORPORATE EURO BOND AC AD AH CHF C AH CHF D AH USD C AS C IC IH CHF C IH GBP C UD RC
0.92 0.93 0.93 0.90* 0.92 0.92 0.58 0.59 0.58 0.80* 1.62
LU0146923718 LU0146926141 LU0352160062 LU0352160229 LU0447826263 LU0782383995 LU0943506468 LU0146925176 LU0146927388 LU0192064839 LU0192065133 LU0447826693 LU1273947504 LU0943506971 LU0862299517 LU0146924799
UBAM - CORPORATE US DOLLAR BOND AC AD AH EUR C AH EUR D AH CHF C AH GBP C AS C IC ID IH EUR C IH EUR D IH CHF C IH ILS C IS C UD RC
0.93 0.94 0.93 1.01* 0.93 0.94 0.92 0.58 0.58 0.59 -** 0.58 0.58* 0.58 0.82* 1.62
LU0029761706 LU0103636592 LU0447824136 LU0782382328 LU0132662635 LU0132663013 LU0447824482 LU0782382831 LU0862297495 LU0862297578 LU1209610556 LU1209610630 LU1209610713 LU1209610804 LU0862297651 LU0132636399
UBAM - DYNAMIC EURO BOND AC AD AH CHF C AH GBP C IC ID IH CHF C IH GBP C UC UD UH CHF C UH CHF D UH USD C UH USD D UH GBP C RC
0.61 0.61 0.62 0.61 0.38 0.38 0.38 0.37 0.60 0.58 0.59 -*** -*** -*** -*** 0.82
Page 383
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Codes ISIN
Sub-fund and Class of share
TER in %
LU0029761532 LU0103636329 LU1209509089 LU0352158918 LU0447823757 LU0782382088 LU0132661827 LU1209509329 LU0192062460 LU0447823914 LU0782382245 LU0573557518 LU0862296927 LU0862297065 LU0946659652 LU0946659736 LU1209610986 LU1209611018 LU0862297149 LU0132635235
UBAM - DYNAMIC US DOLLAR BOND AC AD A EUR C AH EUR C AH CHF C AH GBP C IC I EUR C IH EUR C IH CHF C IH GBP C IH GBP D UC UD UH EUR C UH EUR D UH CHF C UH CHF D UH GBP C RC
0.62 0.62 0.63 0.65 0.62 0.63 0.38 0.39* 0.38 0.38 0.38 0.38 0.59 0.59 0.62 -*** 0.59 -*** 0.61 0.83
LU0244149497 LU0244149653 LU0352160815 LU0352161037 LU0447828558 LU0782384704 LU0943513324 LU0943513597 LU0244149901 LU0371556324 LU0371557215
UBAM - EMERGING MARKET BOND AC AD AH EUR C AH EUR D AH CHF C AH GBP C AS C AHS EUR C IC IH EUR C RC
2.05 2.08 2.01 2.02 2.04 1.99 2.01 2.07 1.15 1.15 -***
UBAM - EMERGING MARKET CORPORATE BOND AC AD AH EUR C AH EUR D AH CHF C AS C AHS EUR C AHS CHF C AP C Ratio of performance fee (in % of average net assets) APH EUR C Ratio of performance fee (in % of average net assets) APH CHF C Ratio of performance fee (in % of average net assets) IC ID IH EUR C IH GBP C IHS EUR C
2.06 2.07 2.07 2.07 2.08 2.07 2.08 2.08 2.00 0.60 1.71 0.31 1.55 0.15 1.14 -** 1.13 -** 1.12
LU0520928416 LU0520928507 LU0520929653 LU0520929737 LU0520930404 LU0943514561 LU0943514645 LU0943514728 LU0520928689 LU0520929810 LU0520930669 LU0520928846 LU0520928929 LU0520930073 LU0782386238 LU0943515618
Page 384
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Sub-fund and Class of share
TER in %
LU0520929497 LU0943516855
UBAM - EMERGING MARKET CORPORATE BOND (continued) IP C Ratio of performance fee (in % of average net assets) IPH EUR C Ratio of performance fee (in % of average net assets) RC ZC
1.24 0.36 0.99 0.13 2.38 0.38
LU0943508167 LU0943508324 LU0943508597 LU0943508910 LU0943509728 LU0943510148 LU0943510221 LU0943511385
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND AC AD AH EUR C AH CHF C IC IH EUR C IH EUR D RC
2.09 2.09 2.05 2.05 1.15 1.14 1.15 -***
LU0100809085 LU0103634621 LU0132663286 LU0132637017
UBAM - EURO BOND AC AD IC RC
0.93 0.94 0.48 1.44
LU0570473057 LU0352159569 LU0068133486 LU0103636758 LU0570473560
UBAM - GLOBAL AGGREGATE BOND (1) AC AH EUR C AH CHF C AH CHF D IC
0.96* 0.97 0.94 0.94 0.51*
LU1088690208 LU1088690620
UBAM - GLOBAL CREDIT OPPORTUNITIES AH GBP D AP C APH CHF C APH USD Ratio of performance fee (in % of average net assets) APH GBP C Ratio of performance fee (in % of average net assets) IP C Ratio of performance fee (in % of average net assets) IPH USD C IPH USD D Ratio of performance fee (in % of average net assets) UD UH GBP C UPH GBP C UPH GBP D Ratio of performance fee (in % of average net assets) RC ZC
-** 1.23 1.24 1.24 0.02 1.29 0.05 0.78 0.05 0.74 0.76* 0.02* 1.22* -*** -*** 0.98* 0.03* -*** 0.24*
LU0569862351 LU0569862435 LU0569862609
UBAM - GLOBAL HIGH YIELD SOLUTION AC AD AH EUR C
0.70 0.70 0.70
Codes ISIN
LU0520929141 LU0520930230
LU1315124658 LU1088683765 LU1088684490 LU1088685117 LU1088686438 LU1088686941 LU1088687915 LU1088688210 LU1315125978 LU1315126190 LU1088689887 LU1088690034
Page 385
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Codes ISIN
Sub-fund and Class of share
TER in %
LU0569863086 LU0569862518 LU0569862948 LU0782386402 LU0782386584 LU0569863243 LU0569863326 LU0569863755 LU0569864134 LU0569863599 LU0569863912 LU0569863839 LU0782386667 LU0569864217 LU0862302089 LU0862302162 LU0946662011 LU0946662102 LU1273948734 LU1273948817 LU0862302246 LU0862302592 LU0569864480 LU0569864563 LU0940719098 LU1315126356 LU1315126430 LU1315126513 LU1315126604 LU1315126869 LU0894501013
UBAM - GLOBAL HIGH YIELD SOLUTION (continued) AH EUR D AH CHF C AH CHF D AH GBP C AH GBP D IC ID IH EUR C IH EUR D IH CHF C IH CHF D IH SEK C IH GBP C IH GBP D UC UD UH EUR C UH EUR D UH CHF C UH CHF D UH GBP C UH GBP D RC RD RH EUR C VD VH EUR C VH EUR D VH GBP C VH GBP D ZC
0.70 0.70 0.70 0.69 -** 0.51 0.51 0.51 0.51 0.51 0.52 0.53 0.50 0.50 0.59 0.57 0.55 0.54 0.60* 0.59* -*** 0.56 1.02 1.06* 1.00 0.49* 0.49* -** -** 0.49* 0.25
LU0244150230 LU0244150313 LU0352161110 LU0352161383 LU0447828988 LU0244150669 LU0371559690 LU0447829101 LU0371560276
UBAM - LOCAL CURRENCY EMERGING MARKET BOND AC AD AH EUR C AH EUR D AH CHF C IC IH EUR C IH CHF C RC
2.12 2.14 2.13 2.13 2.14 1.20 1.18 1.20 -***
LU0051100765 LU0103635602
UBAM - STERLING BOND AC AD
0.95 0.98
UBAM - UNCONSTRAINED BOND AC AP C AP D APH CHF C APH USD C Ratio of performance fee (in % of average net assets)
-** 0.81 0.82 0.81 0.86 0.05
LU1315126943 LU0940720344 LU0940720427 LU0940720690 LU0940720856
Page 386
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Sub-fund and Class of share
TER in %
LU1315131869 LU0940723017 LU0940722639
UBAM - UNCONSTRAINED BOND (continued) APH GBP C Ratio of performance fee (in % of average net assets) APH GBP D Ratio of performance fee (in % of average net assets) IP C Ratio of performance fee (in % of average net assets) IPH CHF C IPH USD C Ratio of performance fee (in % of average net assets) UH GBP C UPH GBP C RC
0.84 0.03 0.86 0.03 0.49 0.01 0.48 0.57 0.09 -*** -*** -***
LU0068133569 LU0181360743 LU0352159130 LU0782382914 LU0181361394 LU0181361717 LU0862297909 LU0181361048
UBAM - US DOLLAR BOND AC AD AH EUR C AH GBP C IC ID UD RC
0.93 0.95 0.95* 0.96* 0.48 0.49* 0.69* 1.42
LU0862302675 LU0862302758 LU0862302832 LU0862302915 LU0862303053 LU0862303483 LU0943512359 LU0862303640 LU0862303996 LU0862304028 LU0862304291 LU0943512789 LU0862305264 LU0862305348
UBAM - EM INVESTMENT GRADE CORPORATE BOND (1) AC AD AH EUR C AH EUR D AH CHF C AH GBP C AS C IC IH EUR C IH EUR D IH CHF C IS C UH GBP D RC
1.59 1.72 -** 1.68 -** -** 1.80 0.89 0.89 -** 0.83 0.87 -** -***
LU0500228894 LU0500229199 LU0500229603 LU0570471275 LU0500229272 LU0500229868 LU0862305850 LU0862305934 LU1273949039 LU1273949203 LU1273949385 LU0500229439
UBAM - EUROPEAN CONVERTIBLE BOND (2) AC AD AH CHF C AH USD C IC IH CHF C UC UD UH CHF C UH USD C UH USD D RC
1.62 1.61 1.61 1.61 1.16 1.14 -*** -*** 1.22* 1.23* -*** 2.36
Codes ISIN
LU0940721235 LU0940721318 LU0940721409 LU0940721664 LU0940721821
Page 387
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Codes ISIN
Sub-fund and Class of share
TER in %
LU0500231252 LU0500231336 LU0500231922 LU0570469378 LU0570469022 LU0782395908 LU0500231500 LU0500231682 LU0500232144 LU0570469881 LU0570470038 LU0570469618 LU0782396385 LU0500232573 LU0862306239 LU0862306312 LU0500231765
UBAM - EURO 10-40 CONVERTIBLE BOND (2) AC AD AH CHF C AH USD C AH SEK C AH GBP C IC ID IH CHF C IH USD C IH USD D IH SEK C IH GBP C IH GBP D UC UD RC
1.32 1.31 1.31 1.31 1.30 1.31 0.85 0.84 0.84 0.84 0.85 0.84 0.84 0.84 1.03 -*** 2.17
LU0940716078 LU0940716235 LU0940716409 LU0940716821 LU0940717126 LU0940717399 LU0940717472 LU0940717639 LU0940718876 LU0940718280
UBAM - GLOBAL CONVERTIBLE BOND (2) AC AH CHF C AH USD C AH GBP C IC ID IH CHF C IH USD C UH GBP C RC
1.60 1.59 1.59 1.62 0.98 0.95* 1.12 1.00* 1.41 -***
LU1088655128 LU1088655391 LU1088655557 LU1088655714 LU1088655805 LU1088656100 LU1088656449 LU1088656795 LU1088657090 LU1088658494
UBAM - GLOBAL 10-40 CONVERTIBLE BOND (2) AC AD AH CHF C AH USD C AH USD D AH GBP C IC IH CHF C IH USD C RC
1.40 1.38 1.38 1.41 1.38 1.41 0.87 0.93 0.89 1.96
LU1273963378 LU1273963451 LU1273964343 LU1273965407
UBAM - SRI EUROPEAN CONVERTIBLE BOND (2) AC AD IC UC
-*** 1.45* -*** 1.03*
LU0573559563 LU0573559647 LU0877608710 LU0573559563 LU0573559647 LU0877608710 LU0573560223
UBAM - 30 GLOBAL LEADERS EQUITY (1) AC AD AH C A EUR C A EUR D AH EUR C AH CHF C
2.01 2.04 1.99 1.81 1.87 1.79 1.80
Page 388
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Codes ISIN
Sub-fund and Class of share
TER in %
LU0782401482 LU0782401722 LU0878192136 LU0277302211 LU0877610377 LU0573560579 LU0277302054
UBAM - 30 GLOBAL LEADERS EQUITY (1) (continued) AH GBP C AH GBP D IC IH C IH EUR C IH CHF C RC
1.84 -*** 1.27 1.29 1.22 1.37* 2.75
LU1273966553 LU1273967528 LU1315143955 LU1273969573
UBAM - ADAMS US SMALL CAP EQUITY (1) AC IC I+ C RC
2.15* 1.37* 0.95* 3.12*
LU0034172394 LU0367305520 LU0352163322 LU0717716103 LU0132667436 LU0371561597 LU0862311155 LU0132641472
UBAM - ASIA EQUITY AC AD A EUR C AP C IP C IP D UP C RC
2.59 2.66* 2.54 2.08 1.35 1.40* 1.56* 3.54
LU0087798301 LU0570465202 LU0181358846 LU0181358762
UBAM - DR. EHRHARDT GERMAN EQUITY AC AH USD C IC RC
2.11 2.12 1.39 3.11
LU0045842449 LU0367305108 LU0447830703 LU0570470202 LU1209508602 LU0782398670 LU0132667782 LU0371558619 LU0570470624 LU1209508867 LU0862308102 LU0862308284 LU0132641985
UBAM - EUROPE EQUITY AC AD A CHF C A USD C AH USD C A GBP C IC ID I USD C IH USD C UD U GBP C RC
2.06 2.08 2.07 2.03 2.10 2.07 1.33 1.33 1.31 1.35 1.36* 1.46* 2.58
LU0717718067 LU0717718224 LU0717720980 LU0717721103 LU0717721871 LU0717722093 LU0782407331 LU0782407760
UBAM - EUROPE EQUITY DIVIDEND+ AC AD A CHF C A CHF D A USD C A USD D AH C AH CHF C
2.20 2.21 2.16 2.16 2.16 2.17 2.18 2.18
Page 389
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Codes ISIN
Sub-fund and Class of share
TER in %
LU0782407927 LU0782408149 LU0717719891 LU0717720394 LU0717721368 LU0717722259 LU0717723810 LU0782410046 LU0782411010 LU0782411952 LU0782412174 LU0717720550 LU0717720717 LU0862313441 LU0862313870
UBAM - EUROPE EQUITY DIVIDEND+ (continued) AH CHF D AH USD C IC ID I CHF C I USD C I GBP D IH C IH USD C IH GBP C IH GBP D RC RD UD U GBP D
2.15 2.18 1.43 1.40 1.43 1.43 1.42 1.43 -** 1.42 1.41 2.68 2.70 1.43* -**
LU1044337407 LU1044340963 LU1044343983 LU1044344288
UBAM - EUROPE EQUITY FLEX AC IP C RC ZC
2.22 1.17 -*** 0.52
UBAM - EUROPEAN OPPORTUNITIES EQUITY AC A CHF C IC UP GBP C Ratio of performance fee (in % of average net assets)
2.50 2.45 1.75 1.70 0.19
UBAM - GCM MIDCAP US EQUITY GROWTH AC AD AH EUR C AH CHF C IC U D CHECK COHERENCE RC
2.11 2.12 2.12 2.12 1.35 1.65* 3.12
UBAM - GLOBAL EMERGING EQUITY AC AD A EUR C AP C Ratio of performance fee (in % of average net assets) AP D Ratio of performance fee (in % of average net assets) AP EUR C AP CHF C IC ID IP C Ratio of performance fee (in % of average net assets) IP EUR C RP C Ratio of performance fee (in % of average net assets)
2.13 2.12 2.12 1.34 0.21 2.26* 0.34* 1.92* 1.91* 1.32 1.27 1.69* 0.48* 1.21* 2.85* 0.18*
LU1044344528 LU1044344957 LU1044347893 LU1044352034
LU0034171404 LU0367304804 LU0352161466 LU0447829366 LU0132666891 LU0862306742 LU0132641126
LU0782412331 LU0782412505 LU0782412760 LU1315146032 LU1315146206 LU1315146461 LU1315146974 LU0782414899 LU0782415193 LU1315148244 LU1315148590 LU1315150067
Page 390
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Sub-fund and Class of share
TER in %
LU1088696155 LU1088697633 LU1088700791
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH (1) AC A EUR C AP C Ratio of performance fee (in % of average net assets) APH EUR C IC IP C
2.10 2.11 1.61 0.01 1.60 1.36 1.00
LU1044353354 LU1044353438 LU1044353941 LU1044354246 LU1044354675
UBAM - GLOBAL EQUITY INCOME AC AD AH CHF C A USD C AH USD C
2.44 2.44 2.44 2.46 2.43
LU0306284893 LU0352162944 LU0447831776 LU0570475268 LU0782400831 LU0306285197 LU0306285353 LU0570475771 LU0862309332 LU0306285783 LU0940719254
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY AP C APH EUR C APH CHF C APH USD C APH GBP C IP C IPH EUR C IPH USD C UP C RC RH EUR C
2.08 2.08 2.08 2.08 2.08 1.34 1.35 1.35 1.60 3.03 -***
LU0045841987 LU0367304986 LU0352161623 LU0447829879 LU0181362285 LU0371560516 LU0192065562 LU0362553587 LU0862307120 LU0862307393 LU0862307476 LU0181361980 LU0940719767
UBAM - AJO US EQUITY VALUE (1) AC AD AH EUR C AH CHF C IC ID IH EUR C IH GBP D UC UD UH GBP C RC RH EUR C
2.00 1.98 2.01 2.00 1.27 -*** 1.26 1.22 1.50 1.38* -** 3.00 3.06
LU0541091996 LU0541092028 LU0573556031 LU0541092531
UBAM - RUSSIAN EQUITY AC AD A EUR C RC
2.53 2.52 2.53 -***
LU0052780409 LU0367305363 LU0352162357 LU0352162431 LU0447831263
UBAM - SNAM JAPAN EQUITY VALUE AC AD AH EUR C AH EUR D AH CHF C
2.06 2.07 2.07 2.07 2.07
Codes ISIN
LU1088691354 LU1088692675 LU1088694457
Page 391
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Codes ISIN
Sub-fund and Class of share
TER in %
LU0570474295 LU0570474535 LU0570474022 LU0570474295 LU0570474535 LU0570474022 LU0782400161 LU0132667519 LU0371557645 LU0192065992 LU0447831420 LU0570474881 LU0371558379 LU0862309092 LU0132641639 LU0940720005
UBAM - SNAM JAPAN EQUITY VALUE (continued) AH USD C AH USD D AH SEK C AH USD C AH USD D AH SEK C AH GBP C IC ID IH EUR C IH CHF C IH USD C IH GBP D UD RC RH EUR C
2.06 -** 2.00 2.06 -** 2.00 2.07* 1.33 1.35* 1.32 1.31 1.33 1.32 1.65* 3.06 3.10
LU0073503921 LU0367305280 LU1273951282 LU1273951365 LU0352162191 LU0570480771 LU0570480938 LU0782399306 LU0132668087 LU0371561910 LU1273952256 LU1273952330 LU0192065646 LU0570481159 LU0862308441 LU0862308524 LU1273953908 LU1273954039 LU0946663506 LU1273953577 LU1273953650 LU0132643411
UBAM - SWISS EQUITY AC AD AH C AH D AH EUR C AH USD C AH USD D AH GBP C IC ID IH C IH D IH EUR C IH USD C UC UD U USD C U USD D UH EUR C UH USD C UH USD D RC
1.39 1.39 1.41* -*** 1.38 1.38 -*** -*** 0.99 0.99 1.01* 0.98* 0.99 1.01 1.06 1.07 -*** -*** -*** 1.05* -*** 2.38
LU1088703548 LU1088703894 LU1088704199 LU1088704785 LU1088705832 LU1088706210 LU1088707291 LU1088708349
UBAM - SWISS SMALL AND MID CAP EQUITY AC AH EUR C AH USD C AP C IC IH USD C IP C UD
1.44* 1.42* 1.43* 1.07* 1.02* -** 0.77* 1.07*
LU0500236210 LU0500237457 LU0500237531
UBAM - TURKISH EQUITY AC A EUR C A EUR D
2.39 2.38 2.40
Page 392
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Codes ISIN
Sub-fund and Class of share
TER in %
LU0500236640 LU0500237887 LU0500236996 LU0500238000 LU0862312047 LU0500237291
UBAM - TURKISH EQUITY (continued) IC I EUR C IP C IP EUR C UC RC
1.63 1.65 1.15 1.14 -*** 3.14
LU1044359633 LU1044359716 LU1044362777 LU1044363072 LU1044363585
UBAM - EURO EQUITY INCOME (2) AC AD I GBP D UD RC
2.05 1.77 1.21 1.16 -***
LU1044364393 LU1044364476 LU1044364633 LU1044364716 LU1044364989 LU1044365010 LU1044365523 LU1044365796 LU1044365952
UBAM - MULTIFUNDS ALLOCATION 30 AC AD AH EUR C AH EUR D AH CHF C AH CHF D AH GBP C AH GBP D IC
1.52 1.49 1.52 1.49* 1.53 1.48* 1.52 1.50 -***
LU1044369277 LU1044369350 LU1044369517 LU1044369608 LU1044369863 LU1044369947 LU1044370440 LU1044370523 LU1044370879
UBAM - MULTIFUNDS ALLOCATION 50 AC AD AH EUR C AH EUR D AH CHF C AH CHF D AH GBP C AH GBP D IC
1.90 1.86 1.90 1.84 1.90 1.81* 1.90 1.81* 1.16*
LU1044374194 LU1044374277 LU1044374434 LU1044374517 LU1044375597 LU1044375670 LU1044375837 LU1044377619 LU1044374194
UBAM - MULTIFUNDS ALLOCATION 70 AC AD AH EUR C AH EUR D AH GBP C AH GBP D IC UD AC
2.29 2.10* 2.32 2.07* 2.29 2.24 1.73 1.98* 2.29
LU1044379318 LU1044379581 LU1044379664 LU1044380597 LU1044380753 LU1044381306 LU1044381488
UBAM - MULTIFUNDS ALTERNATIVE AC AH EUR C AH EUR D IC IH EUR C IH GBP C IH GBP D
2.17* -** 2.23* 1.02 1.02 1.06 1.05
Page 393
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Codes ISIN
Sub-fund and Class of share
TER in %
LU1044381561 LU1044381645 LU1044381728 LU1044382296 LU1044382379
UBAM - MULTIFUNDS ALTERNATIVE (continued) UC UD UH EUR C UH GBP D RC
1.26 1.30* 1.27 1.30 -***
LU1088659039 LU1088659203 LU1088659468 LU1088661100 LU1088664039 LU1088664971 LU1088668881 LU1088670432 LU1088670861 LU1088671240 LU1234260880
UBAM - ASYMMETRY 50 EUR AC A USD C A CHF C AP C IC I CHF C UD RC MC MP C ZC
1.71 1.71 1.32 1.46 0.99 0.83 1.23* -*** 0.79 0.65 0.27
LU1088671596 LU1088671752 LU1088672305 LU1088673709 LU1088684656 LU1088685034 LU1088685380 LU1234261698
UBAM - ASYMMETRY 50 USD AC AD A CHF C AP C MC MD MP C ZC
1.70 1.70 1.70 1.45 0.80 0.77* 0.61 0.27
(1)
Please refer to Note 18 for more details on events concerning this sub-fund. This sub-fund acts as Feeder in a master-feeder structure, please refer to Note 16 and "AGGREGATE CHARGES WITHIN MASTER-FEEDER STRUCTURES" in chapter of the prospectus dated April 2016, in order to obtain complete information about aggregate fees. (2)
* : annualized -** : TER not calculated as unrepresentative -*** : TER not calculated as unrepresentative due to the reduced size of the relevant share class Portfolio Turnover Ratio “PTR” As at 30th June 2016, the PTR calculated for each sub-funds is: Currency
Portfolio Turnover Ratio
Bond sub-funds UBAM - CORPORATE EURO BOND
EUR
52.39%
UBAM - CORPORATE US DOLLAR BOND
USD
41.23%
UBAM - DYNAMIC EURO BOND
EUR
97.08%
UBAM - DYNAMIC US DOLLAR BOND
USD
49.19%
UBAM - EMERGING MARKET BOND
USD
93.60%
UBAM - EMERGING MARKET CORPORATE BOND
USD
34.67%
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND
USD
19.98%
UBAM - EURO BOND
EUR
22.37%
UBAM - GLOBAL AGGREGATE BOND (1)
USD
65.71%
Page 394
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Currency
Portfolio Turnover Ratio
Bond sub-funds (continued) UBAM - GLOBAL CREDIT OPPORTUNITIES
EUR
329.94%
UBAM - GLOBAL HIGH YIELD SOLUTION
USD
-38.82%
UBAM - LOCAL CURRENCY EMERGING MARKET BOND
USD
-1.68%
UBAM - STERLING BOND
GBP
20.58%
UBAM - UNCONSTRAINED BOND
EUR
228.09%
UBAM - US DOLLAR BOND
USD
-26.05%
UBAM - EM INVESTMENT GRADE CORPORATE BOND (1)
USD
504.04%
Feeder convertible bond sub-funds UBAM - EUROPEAN CONVERTIBLE BOND (2)
EUR
5.71%
UBAM - EURO 10-40 CONVERTIBLE BOND (2)
EUR
-27.27%
UBAM - GLOBAL CONVERTIBLE BOND (2)
EUR
13.18%
UBAM - GLOBAL 10-40 CONVERTIBLE BOND (2)
EUR
-0.21%
UBAM - SRI EUROPEAN CONVERTIBLE BOND (2)
EUR
-4.69%
Equity sub-funds UBAM - 30 GLOBAL LEADERS EQUITY (1)
USD
-32.37%
UBAM - ADAMS US SMALL CAP EQUITY (1)
USD
22.45%
UBAM - ASIA EQUITY
USD
37.97%
UBAM - DR. EHRHARDT GERMAN EQUITY
EUR
366.09%
UBAM - EUROPE EQUITY
EUR
78.35%
UBAM - EUROPE EQUITY DIVIDEND+
EUR
53.22%
UBAM - EUROPE EQUITY FLEX
EUR
87.52%
UBAM - EUROPEAN OPPORTUNITIES EQUITY
EUR
44.91%
UBAM - GCM MIDCAP US EQUITY GROWTH
USD
-10.52%
UBAM - GLOBAL EMERGING EQUITY
USD
250.85%
UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH (1)
USD
55.46%
UBAM - GLOBAL EQUITY INCOME
EUR
119.96%
UBAM - IFDC JAPAN OPPORTUNITIES EQUITY
JPY
24.58%
UBAM - AJO US EQUITY VALUE (1)
USD
199.30%
UBAM - RUSSIAN EQUITY
USD
97.23%
UBAM - SNAM JAPAN EQUITY VALUE
JPY
11.48%
UBAM - SWISS EQUITY
CHF
-40.14%
UBAM - SWISS SMALL AND MID CAP EQUITY
CHF
51.01%
UBAM - TURKISH EQUITY
USD
66.48%
EUR
-2.76%
UBAM - MULTIFUNDS ALLOCATION 30
USD
41.61%
UBAM - MULTIFUNDS ALLOCATION 50
USD
66.48%
UBAM - MULTIFUNDS ALLOCATION 70
USD
119.17%
UBAM - MULTIFUNDS ALTERNATIVE
USD
-23.83%
Feeder equity sub-fund UBAM - EURO EQUITY INCOME (2) Fund of funds sub-funds
Asset Allocation sub-funds UBAM - ASYMMETRY 50 EUR
EUR
400.00%
UBAM - ASYMMETRY 50 USD
USD
352.47%
1)
Please refer to Note 18 for more details on events concerning this sub-fund. This sub-fund acts as Feeder in a master-feeder structure, please refer to Note 16 and "AGGREGATE CHARGES WITHIN MASTER-FEEDER STRUCTURES" in chapter of the prospectus dated April 2016, in order to obtain complete information about aggregate fees. (2)
Page 395
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Note 13 - Changes of the investment portfolio
(
Details of changes in the securities portfolio for the period referring to this report are available upon request - free of charge - at the SICAV's registered office, and at the office of the financial intermediaries as described in the Organisation chapter of this report. Note 14 - Dividends During the period, the SICAV distributed the following dividends: - ‘Ex-dividend’ date: 25nd April 2016 - Payment date: 28th April 2016 Type of distribution shares
Currency
UBAM - CORPORATE EURO BOND
A
EUR
2.41
149,708.270
UBAM - CORPORATE EURO BOND
U
EUR
2.44
18,949.040
UBAM - CORPORATE US DOLLAR BOND
A
USD
3.83
372,645.996
UBAM - CORPORATE US DOLLAR BOND
I
USD
3.37
285,432.630
UBAM - CORPORATE US DOLLAR BOND
U
USD
3.45
7,905.000
UBAM - DYNAMIC EURO BOND
A
EUR
1.88
546,359.095
UBAM - DYNAMIC EURO BOND
I
EUR
1.27
857,057.821
UBAM - DYNAMIC EURO BOND
U
EUR
1.28
1,517.992
UBAM - DYNAMIC EURO BOND
UH
CHF
1.28
10.000
UBAM - DYNAMIC EURO BOND
UH
USD
1.28
10.000
UBAM - DYNAMIC US DOLLAR BOND
A
USD
1.79
78,454.497
UBAM - DYNAMIC US DOLLAR BOND
IH
GBP
1.96
2,305.000
UBAM - DYNAMIC US DOLLAR BOND
U
USD
1.49
11,952.410
UBAM - DYNAMIC US DOLLAR BOND
UH
EUR
1.49
10.000
UBAM - DYNAMIC US DOLLAR BOND
DIVIDEND Amount
Number of shares outstanding at ex-dividend date
Bond sub-funds
UH
CHF
1.47
10.000
UBAM - EMERGING MARKET BOND
A
USD
4.15
18,344.159
UBAM - EMERGING MARKET BOND
AH
EUR
2.96
3,148.356
UBAM - EMERGING MARKET CORPORATE BOND
A
USD
3.57
45,174.289
UBAM - EMERGING MARKET CORPORATE BOND
AH
EUR
3.80
4,337.000
A
USD
4.19
57,175.908
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND
IH
EUR
4.89
59,405.000
UBAM - EURO BOND
A
EUR
2.25
15,431.586
UBAM - EM HIGH YIELD SHORT DURATION CORPORATE BOND Bond sub-funds (continued)
UBAM - GLOBAL AGGREGATE BOND
(1)
AH
CHF
1.92
8,058.000
UBAM - GLOBAL CREDIT OPPORTUNITIES
IPH
USD
3.17
1,020.000
UBAM - GLOBAL CREDIT OPPORTUNITIES
UPH
GBP
3.18
13,600.000
UBAM - GLOBAL HIGH YIELD SOLUTION
A
USD
5.58
713,289.349
UBAM - GLOBAL HIGH YIELD SOLUTION
AH
EUR
5.58
214,185.953
UBAM - GLOBAL HIGH YIELD SOLUTION
AH
CHF
5.80
47,418.244
UBAM - GLOBAL HIGH YIELD SOLUTION
I
USD
5.32
518,151.167
UBAM - GLOBAL HIGH YIELD SOLUTION
IH
EUR
5.70
352,497.827
UBAM - GLOBAL HIGH YIELD SOLUTION
IH
CHF
4.96
120,416.578
Page 396
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Type of distribution shares
DIVIDEND Currency
Amount
Number of shares outstanding at ex-dividend date
UBAM - GLOBAL HIGH YIELD SOLUTION
IH
GBP
5.81
1,434,558.586
UBAM - GLOBAL HIGH YIELD SOLUTION
U
USD
5.13
171,938.135
UBAM - GLOBAL HIGH YIELD SOLUTION
UH
EUR
4.99
653,397.136
UBAM - GLOBAL HIGH YIELD SOLUTION
UH
CHF
5.25
15,501.603
UBAM - GLOBAL HIGH YIELD SOLUTION
UH
GBP
5.24
3,027,405.03
UBAM - GLOBAL HIGH YIELD SOLUTION
VH
GBP
5.20
2,033,675.551
UBAM - GLOBAL HIGH YIELD SOLUTION
R
USD
4.77
78,797.366
UBAM - LOCAL CURRENCY EMERGING MARKET BOND
A
USD
2.42
4,532.000
UBAM - LOCAL CURRENCY EMERGING MARKET BOND
AH
EUR
1.82
7,204.893
UBAM - STERLING BOND
A
GBP
3.22
3,706.000
UBAM - UNCONSTRAINED BOND
AP
EUR
2.28
4,420.138
UBAM - UNCONSTRAINED BOND
APH
GBP
2.31
8,575.000
UBAM - US DOLLAR BOND
A
USD
42.65
2,826.692
UBAM - US DOLLAR BOND
I
USD
2.33
45,048.000
U
USD
2.32
34,442.000
UBAM - US DOLLAR BOND UBAM - EM INVESTMENT GRADE CORPORATE BOND
(1)
UBAM - EM INVESTMENT GRADE CORPORATE BOND (1)
A
USD
3.19
11,990.000
AH
EUR
3.16
2,000.000
Feeder convertible bond sub-funds UBAM - EUROPEAN CONVERTIBLE BOND (2)
A
EUR
1.19
11,615.000
UBAM - EUROPEAN CONVERTIBLE BOND (2)
U
EUR
1.27
10.000
UBAM - EUROPEAN CONVERTIBLE BOND
(2)
UH
USD
1.35
10.000
UBAM - EURO 10-40 CONVERTIBLE BOND
(2)
A
EUR
1.96
1,701,314.236
I
EUR
2.45
221,254.144
UBAM - EURO 10-40 CONVERTIBLE BOND
(2)
IH
USD
2.28
30,075.000
UBAM - EURO 10-40 CONVERTIBLE BOND
(2)
IH
GBP
2.12
17,523.000
UBAM - EURO 10-40 CONVERTIBLE BOND (2)
U
EUR
1.96
10.000
UBAM - GLOBAL 10-40 CONVERTIBLE BOND
(2)
A
EUR
0.46
850.000
UBAM - GLOBAL 10-40 CONVERTIBLE BOND
(2)
AH
USD
0.47
5,857.000
A
EUR
1.20
287,816.498
UBAM - 30 GLOBAL LEADERS EQUITY (1)
A
EUR
0.82
11,978.000
UBAM - 30 GLOBAL LEADERS EQUITY (1)
A
USD
0.86
53,843.000
UBAM - ASIA EQUITY
A
USD
1.55
7,466.000
UBAM - ASIA EQUITY
IP
USD
1.76
19,658.220
UBAM - EUROPE EQUITY
A
EUR
7.43
47,261.167
UBAM - EURO 10-40 CONVERTIBLE BOND (2)
UBAM - SRI EUROPEAN CONVERIBLE BOND (2) Equity sub-funds
Equity sub-funds (continued)
UBAM - EUROPE EQUITY
I
EUR
7.87
72,878.462
UBAM - EUROPE EQUITY
U
EUR
1.81
26,590.000
UBAM - GLOBAL EQUITY INCOME
A
EUR
0.65
2,795.000
UBAM - RUSSIAN EQUITY
A
USD
1.23
59,693.455
UBAM - SNAM JAPAN EQUITY VALUE
A
JPY
12.00
132,402.000
UBAM - SNAM JAPAN EQUITY VALUE
AH
EUR
0.09
598,492.346
UBAM - SNAM JAPAN EQUITY VALUE
IH
GBP
1.00
730.000
Page 397
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Type of distribution shares
DIVIDEND Currency
Amount
Number of shares outstanding at ex-dividend date
UBAM - SNAM JAPAN EQUITY VALUE
U
JPY
9.00
98,872.000
UBAM - SWISS EQUITY
A
CHF
3.17
95,274.184
UBAM - SWISS EQUITY
AH
CHF
1.14
3,488.000
UBAM - SWISS EQUITY
I
CHF
3.33
9,611.649
UBAM - SWISS EQUITY
IH
CHF
1.14
100.000
UBAM - SWISS EQUITY
U
CHF
1.16
36,928.027
UBAM - SWISS EQUITY
U
USD
1.19
10.000
UBAM - SWISS EQUITY
UH
USD
1.21
10.000
UBAM - TURKISH EQUITY
A
EUR
1.69
1,318.725
UBAM - EURO EQUITY INCOME
A
EUR
2.13
28,235.000
UBAM - EURO EQUITY INCOME
I
GBP
2.88
123,694.325
UBAM - EURO EQUITY INCOME
U
EUR
2.73
3,983.000
UBAM - MULTIFUNDS ALLOCATION 30
A
USD
0.53
53,247.000
UBAM - MULTIFUNDS ALLOCATION 30
AH
GBP
0.57
13,664.951
UBAM - MULTIFUNDS ALLOCATION 50
A
USD
0.52
22,144.000
UBAM - MULTIFUNDS ALLOCATION 50
AH
EUR
0.53
81,273.000
UBAM - MULTIFUNDS ALLOCATION 70
AH
GBP
0.66
1,097.003
UBAM - MULTIFUNDS ALLOCATION 70
U
USD
0.53
6,000.000
UBAM - ASYMMETRY 50 USD
A
USD
0.48
9,320.000
UBAM - ASYMMETRY 50 USD
M
USD
0.50
12,499.000
(1)
Please refer to Note 18 for more details on events concerning this sub-fund. This sub-fund acts as Feeder in a master-feeder structure, please refer to Note 16 and "AGGREGATE CHARGES WITHIN MASTER-FEEDER STRUCTURES" in chapter of the prospectus dated April 2016, in order to obtain complete information about aggregate fees. (2)
- ‘Ex-dividend’ date: - Payment date:
4th January 2016 7th January 2016 Type of distribution shares
Currency
A
EUR
1.57
10,629.769
UBAM - EUROPE EQUITY DIVIDEND+
A
CHF
1.40
4,775.000
UBAM - EUROPE EQUITY DIVIDEND+
AH
CHF
1.52
700.000
UBAM - EUROPE EQUITY DIVIDEND+
A
USD
1.35
5,511.917
UBAM - EUROPE EQUITY DIVIDEND+
I
EUR
1.62
59,633.806
UBAM - EUROPE EQUITY DIVIDEND+
I
USD
1.35
500.000
UBAM - EUROPE EQUITY DIVIDEND+
I
GBP
1.22
3,718.278
UBAM - EUROPE EQUITY DIVIDEND+
IH
GBP
1.30
4,637.734
UBAM - EUROPE EQUITY DIVIDEND+
R
EUR
1.63
312.172
DIVIDEND Amount
Number of shares outstanding at ex-dividend date
Equity sub-fund UBAM - EUROPE EQUITY DIVIDEND+
Page 398
UBAM
Notes to the financial statements as at 30th June 2016 (continued) - ‘Ex-dividend’ date: - Payment date:
1st April 2016 6th April 2016 Type of distribution shares
Currency
UBAM - EUROPE EQUITY DIVIDEND+
A
EUR
1.50
29,358.769
UBAM - EUROPE EQUITY DIVIDEND+
A
CHF
1.33
4,775.000
UBAM - EUROPE EQUITY DIVIDEND+
AH
CHF
1.47
700.000
UBAM - EUROPE EQUITY DIVIDEND+
A
USD
1.34
5,511.917
UBAM - EUROPE EQUITY DIVIDEND+
I
EUR
1.54
18,527.128
UBAM - EUROPE EQUITY DIVIDEND+
I
GBP
1.26
2,873.033
UBAM - EUROPE EQUITY DIVIDEND+
IH
GBP
1.27
5,346.153
UBAM - EUROPE EQUITY DIVIDEND+
R
EUR
1.55
312.172
DIVIDEND Amount
Number of shares outstanding at ex-dividend date
Equity sub-fund
Note 15 - Swing Pricing Mechanism The sub-funds may suffer a reduction in value of the net asset value per share due to transaction costs incurred in the purchase and sale of their underlying investments and/or the spread between the buying and selling prices of such investments when underlying investments trades are undertaken by the Investment Manager to accommodate subscriptions, redemptions and/or switches in and out of the sub-fund. In order to counter this and to protect shareholders’ interests, the Management Company adopted a Swing Pricing Mechanism. The Swing Pricing Mechanism means that in certain circ*mstances, the Management Company will make adjustments in the calculation of the net asset value per share. The net asset value per share may be adjusted upwards or downwards to reflect net inflows and net outflows respectively. The extent of the adjustments will be set by the Management Company to reflect the above mentioned transactions costs and/or spread when these are deemed to be significant. The maximum adjustment will not exceed 2% of the original net asset value per share. The Swing Pricing Mechanism may be applied across all Bond and Asset Allocation sub-funds with the exception of UBAM - DYNAMIC EURO BOND, UBAM - DYNAMIC US DOLLAR BOND, UBAM GLOBAL HIGH YIELD SOLUTION, UBAM - EURO BOND, UBAM - STERLING BOND, UBAM - US DOLLAR BOND and will be applied in an equitable manner to all shareholders of a same sub-fund on the same net asset value calculation date. No Swing Pricing Mechanism will be applied for Feeder bond sub-fund, Feeder convertible bond sub-funds, Equity sub-funds and Feeder equity sub-fund. During the period, swing pricing has been applied in some net asset value calculations.
Page 399
UBAM
Notes to the financial statements as at 30th June 2016 (continued) Note 16 - Master-Feeder structures Each sub-fund of the SICAV is eligible, subject to the approval of the CSSF, to become a Feeder sub-fund by investing at least 85% of its assets in securities of other Master UCITS, notwithstanding articles 2, 41, 43, 46 and 48 of the 2010 Law. At the date of the report, some sub-funds of the SICAV act as Feeders of Master UCITS, as following described: Feeder sub-funds
Master UCITS
Description of the Master UCITS
UBAM - EUROPEAN CONVERTIBLE BOND UBAM - EURO 10-40 CONVERTIBLE BOND UBAM - GLOBAL CONVERTIBLE BOND UBAM - GLOBAL 10-40 CONVERTIBLE BOND UBAM - SRI EUROPEAN CONVERTIBLE BOND
UBAM CONVERTIBLES EUROPE
UBAM - EURO EQUITY INCOME
UBAM ACTIONS EURO RENDEMENT
UBAM CONVERTIBLES EURO 10-40 UBAM CONVERTIBLES GLOBAL
UBAM CONVERTIBLES is a SICAV authorized and regulated by the French Autorités des Marchés Financiers
UBAM CONVERTIBLES GLOBAL 10-40 CONVERTIBLES EUROPE RESPONSABLE
FCP authorized and regulated by the French Autorité des Marchés Financiers FCP authorized and regulated by the French Autorité des Marchés Financiers
The Feeder sub-funds are investing in Type Z shares of their respective Master sub-funds as follows: Feeder sub-funds
Master sub-funds
UBAM - EUROPEAN CONVERTIBLE BOND UBAM - EURO 10-40 CONVERTIBLE BOND UBAM - GLOBAL CONVERTIBLE BOND UBAM - GLOBAL 10-40 CONVERTIBLE BOND (1) (1) UBAM - SRI EUROPEAN CONVERTIBLE BOND
UBAM CONVERTIBLES EUROPE UBAM CONVERTIBLES EURO 10-40 UBAM CONVERTIBLES GLOBAL UBAM CONVERTIBLES GLOBAL 10-40 CONVERTIBLES EUROPE RESPONSABLE ZC UBAM ACTIONS EURO RENDEMENT ZC UBAM ACTIONS EURO RENDEMENT ZD
UBAM - EURO EQUITY INCOME UBAM - EURO EQUITY INCOME
% of Z shares 100.00 100.00 98.85 100.00 100.00 100.00 99.65
The investment objective of the Master sub-fund UBAM CONVERTIBLES EUROPE is to enable the investor to benefit from the specific risk/return ratio of European convertible bonds. The investment objective of the Master sub-fund UBAM CONVERTIBLES EURO 10-40 is to enable the investor to benefit from the specific risk/return ratio of Eurozone convertible bonds. The investment objective of the Master sub-fund UBAM CONVERTIBLES GLOBAL is to enable the investor to benefit from the specific risk/return ratio of international convertible bonds. The investment objective of the Master sub-fund UBAM CONVERTIBLES GLOBAL 10-40 is to enable the investor to benefit from the specific risk/return ratio of International convertible bonds. The investment objective of the Master sub-fund CONVERTIBLES EUROPE RESPONSABLE is to enable the investor to benefit from the specific risk/return ratio of convertible bonds from the eurozone meeting environmental or socially responsible criteria. The investment objective of the Master sub-fund UBAM ACTIONS EURO RENDEMENT is to enable the investor to benefit from performance of investments in a selection of stocks chosen to provide a dividend yield greater than that of the MSCI Euro index, net dividends reinvested, over a recommended investment period of more than 5 years.
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Notes to the financial statements as at 30th June 2016 (continued) Please refer to the Master sub-funds’ prospectus for additional information regarding their respective investment policy. At the level of the Master sub-funds, the fees, charges and expenses associated with the investments are operating fees covering all the expenses invoiced directly to the Master sub-funds, with the exception of transaction charges. As at 30th June 2016, the maximum operating fees charged by the Master sub-funds for the classes of shares held by the Feeder sub-funds are as follows: Feeder sub-funds
Master sub-funds
UBAM - EUROPEAN CONVERTIBLE BOND UBAM - EURO 10-40 CONVERTIBLE BOND UBAM - GLOBAL CONVERTIBLE BOND UBAM - GLOBAL 10-40 CONVERTIBLE (1) BOND UBAM - SRI EUROPEAN CONVERTIBLE BOND (1) UBAM - EURO EQUITY INCOME
UBAM CONVERTIBLES EUROPE UBAM CONVERTIBLES EURO 10-40 UBAM CONVERTIBLES GLOBAL UBAM CONVERTIBLES GLOBAL 10-40 CONVERTIBLE EUROPE RESPONSABLE UBAM ACTIONS EURO RENDEMENT
Operating fees 0.20% 0.20% 0.20% 0.20% 0.20% 0.20%
The operating fees, as described by the UBAM CONVERTIBLES, CONVERTIBLE EUROPE RESPONSABLE and UBAM ACTIONS EURO RENDEMENT prospectuses, may be increased by transaction fees. Complete information about Master sub-funds, including prospectus, KIIDs, regulations, articles of incorporation and financial reports can be obtained free of charge at the SICAV’s registered office, 287-289 route d’Arlon, L-1150 Luxembourg. Note 17 - Cross-investments As at 30th June 2016, the total of cross sub-funds’ investments amounts to EUR 9,460,601.66 and therefore total consolidated net asset value at the level of the SICAV at the end of the period without cross-investments would amount to EUR 11,816,609,554.74.
Sub-funds:
UCITS or UCIS in which the sub-funds invest:
UBAM - ASYMMETRY 50 EUR UBAM - ASYMMETRY 50 USD
UBAM - GLOBAL HIGH YIELD SOLUTION -IH- CAP UBAM - GLOBAL HIGH YIELD SOLUTION -I- CAP
Maximum Management fees (in %) 0.25 0.25
There is no Management fee paid by the sub-funds UBAM - ASYMMETRY 50 EUR and UBAM - ASYMMETRY 50 USD relative to these investments in other sub-funds of the SICAV.
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Notes to the financial statements as at 30th June 2016 (continued) Note 18 - Events By circular resolution dated 12th February 2016, AJO LP Philadelphia, United States of America has been appointed as new investment manager of the sub-fund UBAM - NEUBERGER BERMAN US EQUITY VALUE, further the termination of the previous investment manager agreement, and the subfund has also been renamed into UBAM - AJO US EQUITY VALUE with effective date 15th March 2016. By circular resolution dated 29th April 2016, the investment policy of the sub-fund UBAM - GLOBAL EQUITY has been modified and consequently the sub-fund has been renamed into UBAM - GLOBAL EQUITY SUSTAINABLE GROWTH, with effective date 27th May 2016. By circular resolution dated 29th April 2016, it has also been decided to modify the name of the sub-fund UBAM - GLOBAL BOND into UBAM - GLOBAL AGGREGATE BOND with effective date 29th April 2016. As 60% of the share classes of the sub-fund UBAM - 30 GLOBAL LEADERS EQUITY is expressed in USD and 60% of its net assets is invested in USD, the Management Company has decided, by circular resolution dated 29th April 2016, to modify the currency of this sub-fund from EUR into USD, with effective date 27th May 2016. By circular resolution dated 6th May 2016, the Management company has decided that the sub-fund UBAM - EM INVESTMENT GRADE CORPORATE BOND will not be a Feeder sub-fund anymore and will directly invest into bond securities, with effective date 6th June 2016. During the period, the Management Company has decided to appoint Adams Funds Advisers LLC Baltimore, United States of America as investment manager of the sub-fund UBAM - ADAMS SMALL CAP EQUITY, with effective date 1st May 2016.
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ADDITIONAL INFORMATION FOR INVESTORS IN THE FEDERAL REPUBLIC OF GERMANY
For the additional sub-funds of UBAM no notification for public distribution in the Federal Republic of Germany was submitted and shares in these sub-funds may NOT be publicly offered to investors within the scope of the German investment law. As a consequence, the following sub-funds are NOT available to investors in Germany: - UBAM – Asymmetry 50 EUR - UBAM – Asymmetry 50 USD - UBAM – Global Equity Sustainable Growth - UBAM – SRI European Convertible Bond - UBAM – Swiss Small and Mid Cap Equity - UBAM – Unconstrained Plus Sal. Oppenheim jr & Cie. AG & Co. KGaA, Unter Sachsenhausen 4, D-50667 Köln, Germany, has undertaken the function of Paying and Information Agent in the Federal Republic of Germany (the “German Paying and Information Agent”). Applications for the redemption and conversion of shares may be sent to the German Paying and Information Agent. All payments to investors, including redemption proceeds and potential distributions, may, upon request, be paid through the German Paying and Information Agent. The prospectus, the key investor information documents, the Articles of Association of the company, the annual and semi-annual reports may be obtained free of charge in hardcopy form at the office of the German Paying and Information Agent during normal opening hours. The statement of changes in the composition of the investment portfolio is also free of charge upon request at the office of the German Paying and Information Agent available. The issue, redemption and conversion prices of the shares and the notices to shareholders are also available free of charge from the German Paying and Information Agent. The issue, redemption and conversion prices of the shares will be published on the fund website http://www.ubp.com. The notices to shareholders will be sent by post to the German shareholders. The statement of changes in the composition of the investment portfolio is also free of charge upon request available at the office of the German Paying and Information Agent.
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