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AMUNDI FUNDS

SICAV with sub-funds under Luxembourg law

Unaudited semi-annual report as at 31/12/15

A company of Crédit Agricole / Société Générale

AMUNDI FUNDSUnaudited semi-annual report

R.C.S. Luxembourg B 68.806

For the period from 01/07/15 to 31/12/15

No subscription can be received on the basis of financial reports. Subscriptions are only valid if made on the basis of the current offering prospectus supplemented by the last available annualreport of the SICAV and the unaudited semi-annual report if published after such annual report and the most recent Key Investor Information Document relating to the relevant sub-fund.

Additional information concerning the representation and distribution of the Fund in Hong Kong as at 31 December 2015:

Residents in Hong Kong please note that the following sub-funds are not currently authorised in Hong Kong and accordingly not available to the Hong Kong Residents:

Equities:Equity Global Income / Equity Japan Target / Equity US Concentrated Core / Equity Japan Value / Equity Euro / Equity Euroland Small Cap / Equity Europe Small Cap / Equity India Select / EquityEmerging Conservative1 / Equity Europe Conservative2 / Equity Global Conservative3 / Equity Euro Risk Parity.

Bonds:Convertible Credit / Convertible Europe / Bond Euro Aggregate / Bond Euro Corporate Short Term4 / Bond Euro Government / Bond Euro Inflation / Bond Euro High Yield Short Term / Bond GlobalHybrid / Bond Global Corporate / Bond Global Total Return / Bond US Corporate / Bond US Opportunistic Core Plus / Bond US Aggregate / Bond Europe / Bond Global Aggregate / Bond GlobalInflation / Bond Global High Yield / Bond Enhanced RMB / Sterling Strategic Bond / Bond Asian Local Debt / Bond Emerging Inflation / Bond Global Emerging Blended / Bond Global EmergingCorporate / Bond Global Emerging Hard Currency.

Multi Asset:Multi Asset Global / Patrimoine.

Indexed:Index Equity Emerging Markets / Index Equity Euro / Index Equity Europe / Index Equity Japan / Index Equity North America / Index Equity Pacific ex Japan / Index Equity USA / Index EquityWorld / Index Equity World Real Estate / Index Global Bond (EUR) Hedged / Index Bond Euro Corporate / Index Bond Euro Govies.

Absolute Return: Global Macro Forex / Global Macro Forex Strategic / Global Macro Bonds & Currencies / Global Macro Bonds & Currencies Low Vol / Absolute US Corporate5 / Absolute High Yield / AbsoluteVolatility Arbitrage / Absolute Volatility Arbitrage Plus / Absolute Volatility Euro Equities / Absolute Volatility World Equities / Absolute Global Dividend.

For all sub-funds authorized in Hong Kong, please note that the sharesA2HS, A3E, A3HC, A3HU, A3HU-MD, AE, AE-DH, AE-MD, AHE, AHE-MD, AHK, AHU, AHU-MD, AK, AU, AU-MD, FE, FE-MD, FHE, FHE-MD, FU, I10, I11, I2, I4, I8, I9, IE, IG, IHE, IHG, IHU, ME,MG, MHE, MU, O1, OE, OFE, OFU, OHE, OR, ORHE, OU, RE, RHE, RHG, RU, SE, SE-MD, SHA, SHA-MD, SHE, SHE-MD, SHU, SHU-MD, SU, XE, XU are not authorized in Hong Kong.

For all the sub-funds authorized in Hong Kong, please note that the shares AE and IE are not authorized in Hong Kong excepted for the sub-fund Cash EUR.

For all the sub-funds authorized in Hong Kong, please note that the shares AU and IU are not authorized in Hong Kong excepted for the sub-funds Cash USD, Equity Korea and Equity Thailand.

1 Amundi Funds Equity Emerging Minimum Variance has been renamed into Amundi Funds Equity Emerging Conservative as at 27 July 2015.2 Amundi Funds Equity Europe Minimum Variance has been renamed into Amundi Funds Equity Europe Conservative as at 27 July 2015.3 Amundi Funds Equity Global Minimum Variance has been renamed into Amundi Funds Equity Global Conservative as at 27 July 2015.4 Amundi Funds Bond Euro Corporate 1-3 has been renamed into Amundi Funds Bond Euro Corporate Short Term as at 27 July 2015.5 This sub-fund has been liquidated as at 30 September 2015.

Table of Contents

Organisation 6

Portfolios details as at 31/12/15:

EquitiesEquity Global Concentrated1 9Equity Global Income 10Equity Japan Target 12Equity US Concentrated Core 14Equity US Relative Value 15Equity Japan Value 16Equity Euro 18Equity Europe Concentrated2 19Equity Euroland Small Cap 20Equity Europe Small Cap 21Equity Global Gold Mines 23Equity Global Luxury and Lifestyle 24Equity Global Agriculture 25Equity Global Resources 26Equity ASEAN 27Equity Asia ex Japan 28Equity Brazil 30Equity Emerging Focus3 32Equity Emerging World 35Equity MENA 39Equity Greater China 41Equity India 43Equity India Select 44Equity India Infrastructure 45Equity Korea 46Equity Latin America 48Equity Thailand 50Equity Emerging Conservative4 51Equity Europe Conservative5 53Equity Global Conservative6 55Equity Euro Risk Parity7 57

BondsConvertible Credit 60Convertible Europe 63Convertible Global 65Bond Euro Aggregate 68Bond Euro Corporate 73Bond Euro Corporate Short Term8 77Bond Euro Government 80Bond Euro Inflation 81Bond Euro High Yield 82Bond Euro High Yield Short Term 87Bond Global Hybrid9 89Bond Global Corporate 90Bond Global Total Return10 93Bond US Corporate 94Bond US Opportunistic Core Plus 97Bond US Aggregate 102

Bond Europe 108Bond Global Aggregate 110Bond Global 114Bond Global Inflation 116Bond Global High Yield 117Bond Enhanced RMB 119Sterling Strategic Bond11 120Bond Asian Local Debt 121Bond Emerging Inflation 122Bond Global Emerging Blended12 123Bond Global Emerging Local Currency 125Bond Global Emerging Corporate 126Bond Global Emerging Hard Currency 128

Multi AssetMulti Asset Global13 130Patrimoine 131

IndexedIndex Equity Emerging Markets 132Index Equity Euro 141Index Equity Europe 144Index Equity Japan 149Index Equity North America 152Index Equity Pacific ex Japan 159Index Equity USA 161Index Equity World 166Index Equity World Real Estate14 180Index Global Bond (EUR) Hedged15 184Index Bond Euro Corporate15 187Index Bond Euro Govies15 192

AbsoluteGlobal Macro Forex 194Global Macro Forex Strategic 195Global Macro Bonds & Currencies 196Global Macro Bonds & Currencies Low Vol 198Absolute High Yield 200Absolute Volatility Arbitrage 201Absolute Volatility Arbitrage Plus 203Absolute Volatility Euro Equities 204Absolute Volatility World Equities 205Absolute Global Dividend 207

CashCash EUR 208Cash USD 210

Accounts:Statement of Net Assets 212Financial Details Relating to the Last 3 Years 242Statement of Operations and Changes in Net Assets 324Notes to the Financial Statements as at 31/12/15 354Notices and Reports 393Additional Information 394

1 Amundi Funds Equity Global has been renamed into Amundi Funds Equity Global Concentrated as at 27 July 2015.2 Amundi Funds Equity Europe has been renamed into Amundi Funds Equity Europe Concentrated as at 27 July 2015.3 Amundi Funds Equity Emerging Internal Demand has been renamed into Amundi Funds Equity Emerging Focus as at 27 July 2015.4 Amundi Funds Equity Emerging Minimum Variance has been renamed into Amundi Funds Equity Emerging Conservative as at 27 July 2015.5 Amundi Funds Equity Europe Minimum Variance has been renamed into Amundi Funds Equity Europe Conservative as at 27 July 2015.6 Amundi Funds Equity Global Minimum Variance has been renamed into Amundi Funds Equity Global Conservative as at 27 July 2015.7 This sub-fund has been launched on 18 December 2015.8 Amundi Funds Bond Euro Corporate 1-3 has been renamed into Amundi Funds Bond Euro Corporate Short Term as at 27 July 2015.9 This sub-fund has been launched on 18 December 2015.10 This sub-fund has been launched on 24 July 2015.11 This sub-fund has been launched on 3 December 2015 and the first NAV was calculated as at 17 December 2015.12 This sub-fund has been launched on 10 July 2015.13 This sub-fund has been launched on 24 July 2015.14 This sub-fund has been launched on 1 December 2015 and the first NAV was calculated as at 11 December 2015. This Sub-Fund is not an index-tracking Sub-Fund within the meaning of the article 44 of the Law dated December 17, 2010.15 Those sub-funds are not an index-tracking sub-fund within the meaning of the article 44 of the Law dated 17 December 2010.

Page

6

Organisation

DENOMINATION AND REGISTERED OFFICE Amundi Funds 5, Allée Scheffer, L-2520 Luxembourg

MANAGEMENT COMPANY Amundi Luxembourg S.A. 5, Allée Scheffer, L-2520 Luxembourg

BOARD OF DIRECTORS

Chairman Laurent BERTIAU Deputy Head of Institutional and Third party Distribution Amundi Asset Management, Paris

Directors Etienne CLEMENT Deputy Chief Executive Officer, Strategic Marketing Manager Amundi Asset Management, Paris

Jean-François PINÇON Deputy Global Head of Sales Amundi Asset Management, Paris

Christian PELLIS Global Head of External Distribution Amundi Asset Management, Paris

GENERAL MANAGERS Julien FAUCHER Managing Director Amundi Luxembourg S.A., Luxembourg

Philippe CHOSSONNERY Strategic Marketing Manager Amundi Asset Management, Paris

CUSTODIAN CACEIS Bank Luxembourg S.A. 5, Allée Scheffer, L-2520 Luxembourg

REGISTRAR, TRANSFER AND CACEIS Bank Luxembourg S.A.PAYING AGENT 5, Allée Scheffer, L-2520 Luxembourg

ADMINISTRATIVE AGENT Société Générale Bank & Trust 28-32, Place de la gare, L-1616 Luxembourg Grand Duchy of Luxembourg

INVESTMENT MANAGERS Amundi Asset Management acting through: n Main office 90, Boulevard Pasteur, F-75015 Paris, France

n London Branch 41, Lothbury, London EC2R 7HF, United Kingdom

Amundi Hong-Kong Ltd 901-908, One Pacific Place, No. 88 Queensway, Hong Kong

Amundi Japan 1-2-2, Uchisaiwaicho Chiyoda-Ku, Tokyo 100-0011, Japan

Amundi Smith Breeden LLC 280 South Mangum Street, Suite 301 Durham, NC 27701

Resona Bank Ltd Fukagawa Gatharia W2 Bldg, 5-65, Kiba 1-Chome, Koto-Ku, Tokyo 135-8581, Japan

Amundi Singapore Ltd 168, Robinson Road #24-01, Capital Tower, Singapore 068912

TCW Investment Management Company (“TCW”) 865, South Figueroa Street, Suite 1800, Los Angeles, California 90017, United States of America

BFT Gestion S.A. 90, Boulevard Pasteur, 75015 Paris

Since September 30, 2015 CPR Asset Management 90, Boulevard Pasteur, 75015 Paris

INVESTMENT SUB-MANAGERS Amundi Singapore Ltd 168, Robinson Road #24-01, Capital Tower, Singapore 068912

NH-CA Asset Management Co., Ltd 10F Nonghyup Culture & Welfare Foundation Bldg. 34-7 Yeoido-dong Yeongdeungpo-gu, Seoul, Korea

Amundi Japan 1-2-2, Uchisaiwaicho Chiyoda-Ku, Tokyo 100 – 0011 Japan

Amundi Asset Management acting through: n Main office 90, Boulevard Pasteur, F-75015 Paris, France

n London Branch 41, Lothbury, London EC2R 7HF, United Kingdom

AUDITOR OF THE FUND PricewaterhouseCoopers, Société coopérative 2 rue Gerhard Mercator, B.P. 1443, L-1014 Luxembourg Grand Duchy of Luxembourg

FINANCIAL AGENT IN BELGIUM CACEIS Belgium SA/VN Avenue du Port / Havenlaan 86 C/320, B - 1000 Brussels, Belgium

CENTRALIZING AGENT IN FRANCE CACEIS Bank France 1-3, Place Valhubert, F-75206 Paris Cedex 13, France

PAYING AND INFORMATION AGENT Marcard, Stein & Co AGIN GERMANY Ballindam 36, D-20095 Hamburg, Germany

PAYING AND INFORMATION AGENT Meinl Bank A.G.IN AUSTRIA Bauermarkt 2, 1014, Wien, Austria

PAYING AGENT IN GREECE Alpha Bank of Greece 11, Sofokleous Str., 102 35 Athens, Greece

REPRESENTATIVE IN GREECE Amundi Hellas M.F.M.C 45, Mitropoleos Street, 105 56 Athens, Greece

REPRESENTATIVE IN HONG KONG Amundi Hong-Kong Ltd 901-908, One Pacific Place, 88, Queensway, Hong-Kong

REPRESENTATIVE IN THE NETHERLANDS CACEIS Netherlands De Ruyterkade 6, 1013 AA Amsterdam, The Netherlands

7

Organisation

8

Organisation

REPRESENTATIVE IN SPAIN Amundi Iberia SGICC Paseo de la Castellana 1, 28046 Madrid, Spain

FACILITIES AGENT IN UNITED KINGDOM Amundi London Branch. 41, Lothbury, London EC2R 7HF, United Kingdom

PAYING AND REPRESENTATIVE AGENT Société Générale Express Bank ADIN BULGARIA 92,Vladislav Varnenchik Blvd, 9000 Varma, Bulgaria

REPRESENTATIVE IN SWITZERLAND CACEIS (Switzerland) S.A. 7-9, Chemin de Précossy, CH-1260 Nyon, Switzerland

CONTACT BANK IN CZECH REPUBLIC Komercni Banka A.S Na Prikogne 33, Prague 1, Czech Republic

PAYING AND REPRESENTATIVE SKB Banka D.D. Ljubljana AGENT IN SLOVENIA Ajdovscina 4, Ljubljana, Slovenia

FACILITIES AGENT IN IRELAND Société Générale, Dublin Branch 3rd Floor, IFSC House, IFSC, Dublin 1, Ireland

REPRESENTATIVE AGENT IN ITALY Amundi SGR S.p.A. Piazza Missori 2, Milano 20122, Italy

PAYING AND REPRESENTATIVE AGENT Amundi Singapore LtdIN SINGAPORE 168, Robinson Road #24-01, Capital Tower, Singapore 068912

MASTER AGENT IN TAIWAN Amundi Taïwan Suite A, 14F, Tun Hua North Road, Taipei, Taïwan

9

Equity Global Concentrated1

Equities

Portfolios details as at 31/12/15: Securities Portfolio as at 31/12/15

% o

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Mark

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Quantity

USD

97.83245,783,976Long positions

97.82245,761,271Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market97.82245,761,271Shares1.954,904,928Bermuda

1.954,904,928CREDICORP LTD.50,4000.00-PEACE MARK (HLDGS)550,000

2.165,436,880Denmark

2.165,436,880H. LUNDBECK158,667

3.318,319,469France

3.318,319,469BNP PARIBAS146,631

3.017,551,523Germany

0.621,568,344COVESTRO AG42,9242.395,983,179PORSCHE AUTOMOBIL HOLDING SE110,135

4.0310,115,124Israel

4.0310,115,124TEVA PHARMACEUTICAL IND. ADR154,100

4.4911,278,501Italy

2.195,493,700ENI SPA366,4682.305,784,801TELECOM ITALIA SPA4,532,114

8.4121,124,373Japan

2.335,862,468AEON MALL338,4003.629,081,038ASTELLAS PHARMA INC630,9002.466,180,867JAPAN TOBACCO INC166,300

5.1012,818,646Netherlands

3.248,150,325ING GROEP NV-CVA602,6371.864,668,321KONINKLIJKE AHOLD220,665

3.147,882,734Sweden

3.147,882,734VOLVO AB-B SHS840,153

2.566,428,492Switzerland

2.566,428,492ACTELION N46,096

17.5544,081,771United Kingdom

3.428,593,765BRITISH AMERICAN TOBACCO PLC154,6234.5811,474,040GLAXOSMITHKLINE PLC567,0133.378,478,036LIVANOVA PLC142,8003.157,912,470ROYAL DUTCH SHELL PLC-A345,2893.037,623,460SAINSBURY(J)1,998,642

42.11105,818,830United States of America

5.1212,876,065ALPHABET INC16,5502.436,108,150AM AXLE & MFG HLDS322,5002.185,483,151APACHE CORP123,3003.528,852,366APPLE INC84,1003.167,950,356BLACKSTONE GROUP LP271,9003.679,208,261CISCO SYSTEMS INC339,100

% o

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Mark

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Quantity

USD

3.819,605,640ELI LILLY & CO114,0002.937,354,338HEWLETT PACKARD ENTERPRISE483,8381.854,642,914HP INC392,1383.759,409,152JOHNSON & JOHNSON91,6003.829,594,159J.P.MORGAN CHASE & CO145,3002.556,398,009ROSS STORES INC118,9003.328,336,269WELLS FARGO & CO153,353

0.0122,705Share/Units of UCITS/UCIS

0.0122,705Share/Units in investment funds0.0122,705France

0.0122,705AMUNDI TRESO DOLLAR1

97.83245,783,976Total securities portfolio

10

Equity Global Income

The accompanying notes form an integral part of these financial statements

Securities Portfolio as at 31/12/15

% o

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Mark

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Quantity

USD


96.3929,902,537Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market96.3929,902,537Shares1.54479,027Australia

0.57177,367BRAMBLES LIMITED21,0700.97301,660COCA COLA AMATIL44,582

0.2164,851Bermuda

0.2164,851CHEUNG KONG INFRASTRUCTURE7,000

4.201,301,878Canada

1.64507,474AGRIUM INC5,7000.2061,578BCE INC1,6000.81250,581CANADIAN NATIONAL RAILWAY CO4,5001.23382,874CGI GROUP INC A9,6000.1341,530CONSTELLATION SOFTWARE1000.1957,841TELUS2,100

2.48770,036Denmark

1.70526,347NOVO NORDISK9,0420.2681,364PANDORA AB6410.52162,325TRYGVESTA8,116

1.45450,878France

0.40125,193IMERYS SA1,7890.1546,674PUBLICIS GROUPE7000.46143,521THALES SA1,9120.44135,490VINCI SA2,109

0.1959,477Hong Kong (China)

0.1959,477CLP HOLDINGS LTD7,000

1.10341,668Ireland

0.51159,493JAMES HARDIE INDUSTRIES PLC12,5480.59182,175SHIRE2,631

0.43134,299Israel

0.43134,299BEZEQ ISRAEL TELECOM60,976

13.964,331,210Japan

0.45138,232AEON CREDIT SERVICE6,1001.85574,488AJINOMOTO CO INC24,0001.88583,715AOZORA BANK166,0001.85572,508FUJI HEAVY INDUSTRIES LTD13,7001.03319,870KDDI CORP12,2000.84261,070KONICA MINOLTA HOLDINGS25,7000.91281,508MABUCHI MOTOR5,1001.02317,589NIPPON TELEGRAPH & TELEPHONE7,9000.51158,002NOMURA RESEARCH4,0700.3298,398OSAKA GAS CO LTD27,0000.67208,309SONY FINANCIAL HOLDINGS INC11,5001.97612,106TOKYO GAS CO LTD129,0000.66205,415TOYOTA MOTOR CORP3,300

% o

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Quantity

USD

0.96298,803Jersey

0.96298,803WPP PLC12,971

0.1959,928Panama

0.1959,928CARNIVAL CORP1,100

1.21374,349Singapore

0.75232,240AVAGO TECHNOLOGIE LTD1,6000.46142,109COMFORTDELGRO CORP66,100


0.89276,698KUEHNE UND NAGEL INTERNATIONAL AG-NOM2,0101.80555,357NESTLE SA7,4571.02317,106NOVARTIS AG-NOM3,6570.3197,668SONOVA HOLDING AG768


0.53165,610ASTRAZENECA PLC2,4340.1442,533BARRATT DEVELOPMENTS4,6100.40123,894BT GROUP PLC17,8210.42128,990CENTRICA PLC40,1281.04322,866IMPERIAL TOBACCO GROUP PLC6,1080.44135,761MARKS AND SPENCER GROUP20,3611.09339,110PERSIMMON PLC11,351


0.68209,825ALEXION PHARMACEUTICALS INC1,1001.00311,204ALPHABET INC4000.81250,303ALTRIA GROUP INC4,3001.10340,893AMGEN INC2,1000.95294,728APPLE INC2,8001.99615,939AT&T INC17,9000.59183,810BIOGEN INC6001.71529,683BRISTOL MYERS SQUIBB CO7,7001.95604,325CAMPBELL SOUP CO11,5001.39431,136CELGENE CORP3,6000.2372,391CENTENE1,1000.42130,832CENTURYTEL INC5,2000.2888,010CUMMINS INC1,0001.87579,124DARDEN RESTAURANTS INC9,1000.2783,652DAVITA HEALTHCARE1,2002.16668,391DOLLAR GENERAL9,3001.84571,780EXPEDIA4,6001.05324,720EXPEDIT INTL WASH7,2001.01313,690GAP INC12,7000.46141,666GILEAD SCIENCES INC1,4000.87269,440HASBRO INC4,0000.70217,497HONEYWELL INTERNATIONAL INC2,1000.94292,825INTEL CORP8,5001.05325,920INTERPUBLIC GROUP OF COS INC14,0000.98302,764INTL BUSINESS MACHINES CORP2,2002.02626,592JOHNSON & JOHNSON6,1000.43133,219KEYCORP10,1001.07330,980KIMBERLY-CLARK CORP2,600

11

Equity Global Income



% o

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Mark

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Quantity

USD

1.02316,206LIMITED BRANDS INC3,3000.82254,016MARATHON PETROLEUM4,9000.68212,250MASCO CORP7,5002.01623,276MERCK AND CO INC11,8001.44446,958NORTHERN TRUST CORP6,2001.12348,036OMNICOM GROUP INC4,6001.08336,076ORACLE CORP9,2000.78241,740PACCAR INC5,1000.70217,008PATTERSON COMPANIES4,8000.1134,380POLARIS INDUSTRIES INC.4001.84571,752PROCTER AND GAMBLE CO7,2000.56173,390PUBLIC STORAGE7001.08336,231RAYTHEON CO2,7001.55480,960REGIONS FINANCIAL CORP50,1000.73226,135REYNOLDS AMERICAN INC4,9000.88273,412ROBERT HALF INTL5,8000.84260,232STRYKER CORP2,8000.81249,912TD AMERITRADE HOLDING7,2001.43442,554TESORO4,2000.65202,797TEXAS INSTRUMENTS3,7000.96299,250TRACTOR SUPPLY3,5001.53474,012TRAVELERS COMPANIES INC4,2001.50466,822VERIZON COMMUNICATIONS INC10,1002.04632,526WATERS CORP4,7001.93597,960WELLS FARGO & CO11,0001.27394,020WESTERN UNION CO22,0000.72222,650XYLEM6,1000.49150,6403 M1,000



0.0722,705AMUNDI TRESO DOLLAR1


12

Equity Japan Target



% o

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Mark

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Quantity

JPY

98.7626,974,386,900Long positions

96.4226,335,399,400Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market96.4226,335,399,400Shares9.152,498,940,200Automobiles and Parts

1.71468,249,600IMASEN ELECTRIC INDUSTRIAL CO375,2001.65450,262,800KEIHIN210,6002.32630,679,000RIKEN1,477,0002.30629,175,300SHOWA CORP556,3001.17320,573,500TACHI-S165,500

2.66727,014,000Banks

1.54421,974,000SHIZUOKA BANK357,0001.12305,040,000YAMANASHI CHUO BANK LTD492,000

8.042,196,298,600Chemicals

0.69188,154,800KONISHI69,2001.59435,366,000SHIN-ETSU POLYMER649,8002.06562,065,000SUMITOMO BAKELITE1,113,0002.85778,374,000TOAGOSEI747,0000.85232,338,800TOYO TANSO127,100

16.384,474,680,000Construction and Materials

3.59978,541,200CHUDENKO CORP365,4002.19598,920,000KINDEN386,4002.63717,544,800NORITZ386,4001.60437,760,000OKUMURA CORP640,0001.74476,200,800OYO CORP348,1001.64447,713,200SANKI ENGINEERING426,8001.80491,960,000TAIHEI DENGYO392,0001.19326,040,000TAKIRON CO LTD520,000

13.443,670,094,000Electronic and Electrical Equipment

0.51138,105,000ESPEC93,0002.04558,039,600FUTABA CORP341,1001.71466,233,000HITACHI KOKI535,9001.03280,917,000KOA273,0001.52414,449,800MARUWA154,3001.50410,437,300MITSUMI ELECTRIC595,7000.93253,764,100NIPPON CERAMIC132,1001.90519,095,000NIPPON THOMPSON985,0001.06289,332,000OSAKI ELECTRIC423,0001.24339,721,200TOYO CORP309,400

3.13853,729,200General Retailers

3.13853,729,200JOYFUL HONDA346,200

1.33363,251,200Household Goods and Home Construction

1.33363,251,200TENMA CORP153,400

11.103,031,842,900Industrial Engineering

0.3288,724,000DAIICHI JITSUGYO CO LTD164,0001.43389,966,400NAMURA SHIPBUILDING388,8001.50410,228,000NIPPON ROAD CO LTD686,000

% o

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Quantity

JPY

2.09567,928,400SHIMA SEIKI MFG LTD293,2001.13308,994,500SINTOKOGIO313,7002.06562,380,000TOSHIBA MACHINE1,365,0000.84230,318,000TSUKISHIMA KUKAI209,0001.73473,303,600YOKOGAWA BRIDGE338,800

3.22879,614,600Industrial Metals and Mining

1.75478,282,500KYOEI STEEL219,9001.47401,332,100NETUREN CO422,900

3.35914,052,000Industrial Transportation

3.35914,052,000SEINO HOLDINGS722,000

3.23882,255,200Media

3.23882,255,200FUJI MEDIA HOLDINGS INC616,100

2.42661,878,000Nonlife Insurance

2.42661,878,000MS AD ASSURANCE185,400

1.16317,455,000Oil and Gas Producers

1.16317,455,000K&O ENERGY GROUP183,500

3.15859,642,100Personal Goods

2.05559,492,100TSI HOLDINGS CO LTD674,9001.10300,150,000WACOAL HOLDINGS CORP207,000

0.70190,015,000Pharmaceuticals and Biotechnology

0.70190,015,000KISSEI PHARMA62,300

1.73473,785,200Software and Computer Services

1.73473,785,200INES417,800

1.44393,637,400Support Services

1.44393,637,400KOKUYO299,800

10.792,947,214,800Technology Hardware and Equipment

2.06563,121,600DAI-ICHI SEIKO350,2001.02278,100,000DENKI KOGYO515,0002.04556,583,200EIZO NANAO191,2002.08568,560,000JAPAN DIGITAL LABORATORY CO345,0000.91248,820,000MIMASU SEMICONDUCTOR INDUSTRY214,5000.91249,054,000ROHM40,3001.77482,976,000RYOSAN154,800

2.34638,987,500Derivative instruments

2.34638,987,500Options2.34638,987,500Official stock exchange

0.00150,000NIKKEI 225 SIMEX FUT - 17,000 - 08.01.16 PUT600.2156,325,000NIKKEI 225 SIMEX FUT - 18,000 - 08.12.17 CALL500.2055,137,500NIKKEI 225 SIMEX FUT - 18,500 - 08.12.17 CALL551.43390,600,000NIKKEI 225 SIMEX FUT - 19,000 - 08.06.18 CALL4000.1334,775,000NIKKEI 225 SIMEX FUT - 20,000 - 08.12.17 CALL500.00-NIKKEI 225 SIMEX FUT - 21,000 - 08.01.16 CALL600.37102,000,000NIKKEI 225 SIMEX FUT - 22,000 - 08.06.18 CALL200

13

Equity Japan Target



% o

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Quantity

JPY

-1.15-313,002,500Short positions

-1.15-313,002,500Derivative instruments

-1.15-313,002,500Options-1.15-313,002,500Official stock exchange

0.00-630,000NIKKEI 225 SIMEX FUT - 18,000 - 08.01.16 PUT-600.00-60,000NIKKEI 225 SIMEX FUT - 20,000 - 08.01.16 CALL-60-0.11-30,650,000NIKKEI 225 SIMEX FUT - 20,500 - 08.12.17 CALL-50-0.07-20,212,500NIKKEI 225 SIMEX FUT - 22,500 - 08.12.17 CALL-55-0.92-247,200,000NIKKEI 225 SIMEX FUT - 23,000 - 08.06.18 CALL-600-0.05-14,250,000NIKKEI 225 SIMEX FUT - 23,500 - 08.12.17 CALL-50

97.6126,661,384,400Total securities portfolio

14

Equity US Concentrated Core



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Quantity

USD


98.22111,072,376Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market98.22111,072,376Shares2.422,740,864Beverages

2.422,740,864MONSTER BEVERAGE CORP18,400

7.138,061,270Financial Services

2.122,392,365CHARLES SCHWAB CORP72,6505.015,668,905VISA INC-A73,100

2.472,791,334Food and Drug Retailers

2.472,791,334CVS HEALTH CORP28,550

1.802,033,357Food Producers

1.802,033,357MEAD JOHNSON NUTRITION25,755


3.103,507,869AMAZON.COM5,1902.703,052,350COSTCO WHOLESALE18,9003.624,098,964PRICELINE GROUP3,2151.631,842,022TIFFANY & CO24,145


3.674,149,344ACE LTD35,510


1.802,039,433UNDER ARMOUR25,300


3.664,143,090ALEXION PHARMACEUTICALS INC21,7202.903,284,375ALLERGAN PLC10,5102.242,528,173BIOMARIN PHARMACEUTICAL INC24,1333.894,391,600CELGENE CORP36,6703.203,618,163ILLUMINA18,850

8.069,120,035Real Estate Investment Trusts

4.965,613,405AMERICAN TOWER57,9003.103,506,630EQUINIX INC COMMON STOCK REIT11,596


3.313,737,723ATHENAHEALTH23,2203.694,178,204CERNER CORP69,4404.414,981,816FACEBOOK A47,6003.303,736,328LINKEDIN CORP CLASS A16,6002.833,195,861MOBILEYE N V75,5885.996,768,272SALESFORCE.COM86,3303.363,805,178SERVICENOW INC43,9602.492,811,118SPLUNK INC47,800

8.819,964,252Technology Hardware and Equipment

6.487,326,986ALPHABET INC SHS C9,6552.332,637,266ARM HOLDINGS ADR58,295

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Quantity

USD

5.746,491,381Travel, Leisure and Catering

1.982,244,258CHIPOTLE MEXICAN GRILL CL A4,6773.764,247,123STARBUCKS70,750


15


Equity US Relative Value


% o

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Mark

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Quantity

USD


99.34389,793,417Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market99.34389,793,417Shares1.726,757,239Automobiles and Parts

1.726,757,239DANA HOLDING WI489,655

11.2944,271,320Banks

3.5113,760,325CITIGROUP INC265,9003.7714,802,869J.P.MORGAN CHASE & CO224,1842.7810,889,676STATE STREET CORP164,1001.234,818,450ZIONS BANCORP176,500

2.8711,277,471Beverages

2.8711,277,471PEPSICO INC112,865

2.9511,566,110Electricity

1.646,419,412AES CORP670,7851.315,146,698AMERICAN ELECTRIC POWER INC88,325

1.756,866,608Electronic and Electrical Equipment

1.756,866,608CORNING INC375,635


2.6710,485,031AMERIPRISE FINANCIAL98,5251.897,396,176INTERCONTINENTALEXCHANGE GROUP28,8620.722,838,986SYCHRONY FINANCIAL93,357

1.415,540,010Fixed Line Telecommunications

1.415,540,010AT&T INC161,000


2.258,827,300SYSCO CORP215,300


0.431,690,616CONAGRA FOODS40,100

10.7642,181,850General Industrials

4.5617,855,273GENERAL ELECTRIC CO573,2033.4413,482,087KONINK PHIL SP ADR NY REGISTRED ADR529,7482.7610,844,490SEALED AIR243,150


2.058,045,778GAP INC325,7402.479,693,925HOME DEPOT INC73,3001.817,114,105JC PENNEY CO INC1,068,184

5.4621,422,065Health Care Equipment and Services

2.9711,644,774ANTHEM INC83,5110.271,056,755BAXTER INTERNATIONAL INC27,7002.228,720,536CIGNA CORP59,595


2.8010,990,370LENNAR A224,706

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Quantity

USD

2.8711,260,148Industrial Engineering

1.385,432,203PENTAIR PLC109,6751.495,827,945TEREX315,365


0.813,194,663ALLEGHENY TECHNOLOGIES INC283,970

3.9915,668,580Media

3.9915,668,580COMCAST CLASS A277,664


2.6610,462,995HARTFORD FINANCIAL SERVICES GRP240,7502.6110,222,859TRAVELERS COMPANIES INC90,580


0.702,752,844CHESAPEAKE ENERGY CORP611,7432.8111,045,738CHEVRON CORP122,7851.034,031,187NABORS INDUSTRIES473,700

1.716,710,210Oil Equipment, Services and Distribution

1.716,710,210BAKER HUGHES INC145,400


1.756,860,682GILEAD SCIENCES INC67,8001.847,231,488JOHNSON & JOHNSON70,4002.088,148,013MERCK AND CO INC154,2602.6310,311,233PFIZER INC319,431


3.7114,539,366MICROSOFT CORP262,065


1.375,375,344ADT CORP162,9881.696,635,831TYCO INTERNATIONAL PLC208,085


1.756,847,783APPLIED MATERIALS INC366,7802.9111,453,164CISCO SYSTEMS INC421,7701.023,989,727CYPRESS SEMICONDUCTOR CORP406,7001.746,834,880INTEL CORP198,4000.572,241,785NETAPP INC84,5001.797,009,937WESTERN DIGITAL CORP116,735


16

Equity Japan Value



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Mark

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Quantity

JPY

99.579,166,174,595Long positions

99.579,166,174,595Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market99.579,166,174,595Shares7.85721,530,400Automobiles and Parts

2.00183,347,400FCC70,9002.37217,005,000HONDA MOTOR CO LTD55,5001.23113,580,000MAZDA MOTOR CORP45,0000.7064,506,000MUSASHI SEIMITSU26,0001.55143,092,000SUMITOMO ELECTRIC INDUSTRIES83,000

8.28761,124,980Banks

2.00183,443,400DENA CO LTD96,6003.75344,329,080MITSUBISHI UFJ FINANCIAL GROUP454,8001.32121,524,000SEVEN BANK LTD228,0001.21111,828,500SURUGA BANK LTD44,500

3.13288,247,000Beverages

1.59146,475,000COCA-COLA CENTL JP75,0001.54141,772,000KAGOME67,000

7.04647,722,500Chemicals

2.10192,748,500JSR CORP101,5001.66152,844,000MITSUI CHEMICALS INC282,0001.95179,695,000TEIJIN LTD433,0001.33122,435,000TOAGOSEI117,500

5.07466,914,800Construction and Materials

1.54142,188,800COMSYS HOLDINGS83,2001.87171,450,000LIXIL GROUP CORPORATION63,5000.00-NEW REAL PROPERTY2,0001.66153,276,000SANWA HOLDINGS CORP159,000

8.57788,344,000Electronic and Electrical Equipment

1.59146,124,000HIROSE ELECTRIC9,9001.41130,002,000HITACHI LTD188,0000.6963,096,600IBIDEN CO LTD36,2001.0394,421,800KYOCERA CORP16,7001.15106,044,000NIDEC CORP12,0001.15105,690,000OMRON CORP26,0001.55142,965,600USHIO INC85,200


0.6357,624,000CREDIT SAISON CO LTD24,0001.18108,588,090NOMURA HLDGS INC159,9001.57145,310,100TOKAI TOKYO HOLDINGS196,100

2.35216,706,700Fixed Line Telecommunications

2.35216,706,700SOFTBANK GROUP CORP35,300


0.9890,486,000DAIKOKUTENBUSSAN CO LTD19,800

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Quantity

JPY


1.83168,838,000NH FOODS SHS71,0001.64150,864,000NICHIREI CORP168,000

1.61148,408,000Gas, Water and Multiutilities

1.61148,408,000TOKYO GAS CO LTD260,000

1.34123,802,000General Industrials

1.34123,802,000RENGO239,000


0.8376,588,000AEON CO LTD41,0001.17107,050,000AEON FANTASY CO.LTD50,0000.6358,209,900YAMADA DENKI111,300


0.7669,930,000TERUMO CORP18,500


1.60146,900,000IIDA GROUP HLDGS65,0001.0294,202,000MAKITA13,4002.41221,738,275SEKISUI HOUSE LTD108,350

6.71617,538,000Industrial Engineering

0.6155,890,000JGC30,0001.0091,632,000KOMATSU LTD46,0002.28210,903,000KURITA WATER INDUSTRIES LTD83,0000.9991,000,000MITSUI ENGINEERING & SHIPBUILD455,0001.83168,113,000TSUGAMI CORP319,000


1.0395,256,000DAIDO STEEL196,000

3.99367,608,900Industrial Transportation

1.58145,987,500EAST JAPAN RAILWAY CO12,7501.30119,256,400HITACHI TRANSPORT SYSTEM56,2001.11102,365,000NIPPON YUSEN347,000

4.95455,691,350Leisure Goods

0.5651,984,000KONAMI HOLDINGS CORP18,0001.82167,095,350PANASONIC CORP134,7002.57236,612,000TOMY298,000

1.58145,810,800Mobile Telecommunications

1.58145,810,800NTT DOCOMO INC58,700


1.0293,534,000MS AD ASSURANCE26,2002.30212,275,600TOKIO MARINE HLDGS INC45,050


1.0597,104,400JX HOLDINGS191,000


1.21111,465,000UNI-CHARM CORP45,000

17


Equity Japan Value


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Quantity

JPY


0.4945,144,000ADERANS HOLDINGS54,0000.7467,816,000ROHTO PHARMACEUTIC28,0001.49137,280,000TAISHO PHARM16,0002.33214,701,000TAKEDA PHARMACEUTICAL CO LTD35,400

1.33122,240,000Real Estate Investment and Services

1.33122,240,000MITSUI FUDOSAN CO LTD40,000


1.44132,886,000YAHOO JAPAN269,000


0.7669,696,000DAISEKI36,0002.23205,261,000MITSUI & CO LTD142,000


1.65151,725,000FUJITSU LTD250,0001.78164,012,800TOKYO ELECTRON LTD22,400

99.579,166,174,595Total securities portfolio

18

Equity Euro



% o

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Mark

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Quantity

EUR


97.67223,366,992Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market97.65223,329,370Shares1.703,878,913Austria

1.703,878,913ERSTE GROUP BANK134,172

4.6010,518,454Belgium

3.187,275,382ANHEUSER-BUSH INBEV63,5961.423,243,072SOLVAY32,948

27.9363,887,009France

1.172,677,140ALSTOM95,0522.215,064,534BNP PARIBAS96,9661.363,103,365BOUYGUES84,9192.044,667,682CAP GEMINI SA54,5292.004,583,853CARREFOUR SA172,0021.122,557,224CREDIT AGRICOLE SA235,0391.192,713,482DASSAULT SYSTEMES36,7831.403,208,728ENGIE SA196,5531.022,323,320ESSILOR INTERNATIONAL20,1940.541,235,806EUROPCAR GROUPE SA101,5871.343,058,506FAURECIA82,6400.942,157,387IPSEN35,3671.423,253,005LVMH MOET HENNESSY LOUIS VUITTON SE22,4501.814,134,949PEUGEOT SA255,1650.30692,469REXEL56,3902.174,965,005SANOFI63,1681.774,037,789THALES SA58,4342.255,158,125TOTAL125,0001.884,294,640ZODIAC AEROSPACE195,433

27.5362,976,938Germany

2.946,717,653ALLIANZ SE-NOM41,0741.162,649,878BASF SE37,4702.164,932,733BAYER AG42,5971.603,667,020BEIERSDORF43,5721.373,138,774COMMERZBANK327,9121.583,623,114CONTINENTAL AG16,1354.7610,901,851DAIMLER140,5241.753,996,785DEUTSCHE POST AG-NOM153,9892.796,386,679DEUTSCHE TELEKOM AG-NOM382,6651.032,350,775FRESENIUS SE & CO KGAA35,6341.012,305,074GEA GROUP AG61,6331.132,591,616KION GROUP56,3151.423,249,485LINDE AG24,2681.433,259,862THYSSENKRUPP AG177,7461.403,205,639ZALANDO88,067

14.2532,584,639Italy

1.784,067,703ASSICURAZIONI GENERALI240,4081.553,548,025BANCA GENERALI121,5911.232,814,163BANCA POPOLARE DELL’EMILIA399,739

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Quantity

EUR

1.954,455,080ENEL SPA1,144,6762.495,713,683ENI SPA414,0351.543,511,909FINMECCANICA SPA272,2410.751,703,923INFRASTRUTTURE WIRELESS ITALIANE SPA338,0801.443,303,882INTESA SANPAOLO SPA1,069,9101.523,466,271TELECOM ITALIA SPA2,950,018

1.403,205,361Luxembourg

1.403,205,361APERAM97,457


1.804,109,360AIRBUS GROUP66,2803.187,274,311ING GROEP NV-CVA584,2821.172,677,924KONINKLIJKE PHILIPS N.V.113,6640.922,096,905STEINHOFF INTL449,5823.548,108,309UNILEVER CVA202,177

4.299,807,437Spain

1.794,099,502AMADEUS IT HOLDING100,7620.922,093,179BANCO SANTANDER SA459,2321.222,785,260CELLNEX TELECOM S.A.161,5580.36829,496REPSOL81,966


1.513,452,493LAFARGE HOLCIM LTD-NOM74,637


1.022,339,931BG GROUP PLC175,0911.693,853,174GLAXOSMITHKLINE PLC206,8451.122,558,212ROYAL DUTCH SHELL PLC-A121,271

0.0237,622Warrants, Rights0.0237,622Spain

0.0237,622REPSOL SA RIGHTS 07/01/201681,966

2.255,134,974Share/Units of UCITS/UCIS

2.255,134,974Share/Units in investment funds2.255,134,974France

0.001AMUNDI CASH INSTITUTE SRI EC0.0012.255,134,973AMUNDI 3 M FCP5


19


Equity Europe Concentrated2


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Mark

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Quantity

EUR



1.161,202,829ERSTE GROUP BANK41,606

4.154,296,998Belgium

2.722,816,414ANHEUSER-BUSH INBEV24,6191.431,480,584SOLVAY15,042

1.972,040,242Denmark

0.91938,072A.P. MOELLER-MAERSK B7801.061,102,170H. LUNDBECK34,941

20.9421,649,044France

1.281,325,698ALSTOM47,0690.75772,116BNP PARIBAS14,7831.701,753,831BOUYGUES47,9911.211,253,612CAP GEMINI SA14,6451.781,841,995CARREFOUR SA69,1181.111,145,501DASSAULT SYSTEMES15,5281.151,189,409EIFFAGE19,9801.341,383,101FAURECIA37,3712.082,155,250INGENICO GROUP SA18,5002.212,280,967PEUGEOT SA140,7572.762,849,564SANOFI36,2541.131,169,794THALES SA16,9291.201,244,470TOTAL30,1581.241,283,736ZODIAC AEROSPACE58,418

6.466,678,071Germany

2.122,192,368BEIERSDORF26,0501.711,766,984CONTINENTAL AG7,8691.091,127,311GEA GROUP AG30,1421.541,591,408ZALANDO43,720

0.94976,169Greece

0.94976,169HELLENIC TELECOMMUNICATIONSORGANIZATIONS OTE

105,646

13.2613,716,007Italy

2.242,311,797ASSICURAZIONI GENERALI136,6311.031,067,930BANCA GENERALI36,5981.301,340,205BANCA POPOLARE DELL’EMILIA190,3700.95984,454ENEL SPA252,9432.142,216,887ENI SPA160,6441.571,621,285FINMECCANICA SPA125,6811.251,293,057INFRASTRUTTURE WIRELESS ITALIANE SPA256,5591.711,769,247TELECOM ITALIA SPA1,505,7421.071,111,145UBI BANCA SPA179,217

1.071,105,672Jersey

1.071,105,672WOLSELEY22,079

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Quantity

EUR


1.251,297,839APERAM39,460


1.691,747,594AIRBUS GROUP28,1871.061,093,463AKZO NOBEL NV-CVA17,7282.622,709,295ING GROEP NV-CVA217,6140.93962,404STEINHOFF INTL206,342

2.062,130,698Spain

1.031,060,577AMADEUS IT HOLDING26,0681.031,070,121CELLNEX TELECOM S.A.62,072

1.111,151,305Sweden

1.111,151,305SKF AB-B SHS76,850


1.901,966,023CREDIT SUISSE GROUP AG-NOM98,5642.112,180,145LAFARGE HOLCIM LTD-NOM47,1311.571,620,438NESTLE SA23,6361.681,741,029NOVARTIS AG-NOM21,8112.752,844,575ROCHE HOLDING AG - BON DE JOUISSANCE

DIVIDENDE11,191


1.831,897,057ASSOCIATED BRITISH FOODS41,8382.392,469,737BG GROUP PLC184,8043.123,215,097GLAXOSMITHKLINE PLC172,5922.933,033,537HSBC HOLDINGS PLC416,9841.891,956,914KINGFISHER437,7372.552,632,528LLOYDS BANKING GROUP PLC2,655,4053.023,110,938PRUDENTIAL PLC149,7661.561,616,076RECKITT BENCKISER GROUP PLC18,9641.751,813,550RIO TINTO PLC67,5262.352,429,033ROYAL DUTCH SHELL PLC-A117,3212.232,305,028UNILEVER58,0532.842,940,441VODAFONE GROUP980,657



0.00658AMUNDI CASH INSTITUTE SRI EC0.650.73758,106AMUNDI 3 M FCP0.715


20

Equity Euroland Small Cap


% o

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Mark

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Quantity

EUR



0.702,618,615WIENERBERGER153,2251.164,337,227ZUMTOBEL AG186,307

4.4516,641,829Belgium

1.756,510,502ACKERMANS V.HAAREN48,1191.033,873,632KINEPOLIS GROUP93,5660.00175NYRSTAR STRIP VVPR175,3011.676,257,520ONTEX GROUP191,011

3.3412,495,687Finland

1.073,992,996CRAMO208,9481.796,698,928HUHTAMAKI OYJ199,9680.481,803,763VALMET CORPORATION202,670

26.0697,566,500France

1.435,357,771ALTEN100,3141.505,626,887ARKEMA87,1171.435,360,363ELIOR PROMESSES277,7390.983,650,085EULER HERMES GROUP41,2021.294,824,590EUROPCAR GROUPE SA396,5961.033,848,448FAURECIA103,9841.214,524,005GROUPE FNAC83,3151.284,798,845HAVAS618,6471.756,556,970INGENICO GROUP SA56,2831.605,976,695NEXANS SA177,3500.963,590,922NEXITY88,0022.158,059,884PLASTIC OMNIUM274,8001.525,705,239RUBIS81,5851.756,550,269SARTORIUS BIOTECH18,5351.686,278,129SEB66,3652.348,761,360TECHNICOLOR1,171,3052.168,096,038TELEPERFORMANCE SE104,465

18.6669,836,811Germany

1.294,813,666AAREAL BANK165,1912.198,188,676AURELIUS AG170,1720.602,256,491AURUBIS AG48,0361.063,980,414BERTRANDT35,7791.535,710,204CTS EVENTIM AKT155,4221.164,325,152DRILLISCH110,6460.943,507,408DUERR47,6550.23871,782FRAPORT14,7912.087,794,315KION GROUP169,3681.636,098,928KRONES AG55,2941.475,521,438NORMA GROUP N107,9461.656,178,799STROEER SE106,7152.8310,589,538WIRECARD227,732

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Quantity

EUR

4.3616,331,386Ireland

0.983,663,798GREEN REIT2,299,9361.646,133,073KINGSPAN GROUP PLC252,2861.746,534,515SMURFIT KAPPA277,592

18.4969,225,481Italy

0.813,039,779AMPLIFON380,2101.214,513,480ANIMA HOLDING562,7781.726,438,763BANCA POPOLARE DELL’EMILIA914,5972.198,210,268BANCA POPOLARE DI MILANO8,914,5150.481,795,823BREMBO SPA. CURNEO40,1931.334,977,377BUZZI UNICEM RNC488,4570.933,494,760CREDITO VALTELLINESE3,203,2631.415,265,322HERA SPA2,149,1110.742,762,822INFRASTRUTTURE WIRELESS ITALIANE SPA548,1791.375,136,033MEDIASET SPA1,340,3010.893,338,528MONCLER SPA258,4001.636,101,369OVS SPA AZ950,3690.00-PARMALAT FINANZIARIA316,9652.017,517,453RECORDATI INDUSTRIA CHIMICA E312,0571.776,633,704YOOX NET A PORTER GROUP SPA192,003


1.947,274,183APERAM221,1671.154,305,978GRAND CITY PROPERTIES S.A.201,308


2.228,337,753AALBERTS INDUSTRIES262,2761.776,627,778EUROCOMMERCIAL PROPERTIES BDR166,5481.786,645,673IMCD B.V195,0881.445,374,655KONINKLIJKE BAM GROEP NV1,047,6910.983,659,105QIAGEN NV145,6941.887,069,196TKH GROUP NV188,8141.194,436,151USG PEOPLE NV258,216

5.5320,718,128Spain

1.284,796,238LABORATORIOS ALMIRALL257,4471.826,805,731MERLIN PROPERTIES589,4961.314,920,602NH HOTELES976,3101.124,195,557TECNICAS REUNIDAS120,389


0.752,806,729DIALOG SEMICONDUCTOR90,2050.00-Warrants, Rights0.00-Austria

0.00-IMMOEAST AG217,635



0.13503,017AMUNDI CASH INSTITUTE SRI EC4972.378,872,487AMUNDI 3 M FCP80.0120,456AMUNDI 3 M FCP0.027



21


Equity Europe Small Cap


% o

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Mark

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Quantity

EUR



1.153,010,337ZUMTOBEL AG129,310

2.837,386,244Belgium

1.323,454,074ACKERMANS V.HAAREN25,5290.00184NYRSTAR STRIP VVPR183,6521.513,931,986ONTEX GROUP120,024

0.892,315,830Denmark

0.892,315,830JYSKE BANK55,374

2.195,708,103Finland

1.163,028,687CRAMO158,4871.032,679,416VALMET CORPORATION301,058

25.0565,352,131France

1.704,438,050ALTEN83,0941.263,288,259EIFFAGE55,2371.564,079,538ELIOR PROMESSES211,3751.072,797,033ELIS SA183,4121.303,395,123EULER HERMES GROUP38,3240.701,836,484EURAZEO28,9211.604,167,437EUROPCAR GROUPE SA342,5760.00-HARLANT PARFUMEUR PFD9,1730.882,289,229IMERYS SA35,5361.945,052,838INGENICO GROUP SA43,3721.052,745,061IPSEN45,0011.443,754,146NEXANS SA111,3991.032,679,950NEXITY65,6771.955,097,025PLASTIC OMNIUM173,7821.704,423,307SEB46,7581.173,049,187SOPRA STERIA GROUP SA28,1550.892,329,075SRP GROUPE SA116,5122.326,044,849TECHNICOLOR808,1351.493,885,540TELEPERFORMANCE SE50,136

11.1729,146,248Germany

0.992,589,206AAREAL BANK88,8540.391,030,068AURUBIS AG21,9280.571,493,420BERTRANDT13,4240.681,761,864DRILLISCH45,0720.942,454,560DUERR33,3500.24635,668FRAPORT10,7850.531,383,266HELLA KG HUECK35,9011.724,474,294KION GROUP97,2250.992,594,520MTU AERO ENGINES HLDG AG28,7960.561,466,266NORMA GROUP N28,6661.483,849,307STROEER SE66,4822.085,413,809WIRECARD116,426

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Quantity

EUR

5.7615,013,940Ireland

1.052,732,737GREEN REIT1,715,4661.213,148,899KINGSPAN GROUP PLC129,5311.012,643,542SMURFIT KAPPA112,3002.496,488,762UDG HEALTHCARE PLC802,440

14.6838,300,580Italy

1.062,753,499ANIMA HOLDING343,3291.844,825,722BANCA POPOLARE DELL’EMILIA685,4721.754,562,615BANCA POPOLARE DI MILANO4,953,9790.501,301,975BREMBO SPA. CURNEO29,1400.942,455,393BUZZI UNICEM RNC240,9611.233,214,104HERA SPA1,311,8790.912,385,240INFRASTRUTTURE WIRELESS ITALIANE SPA473,2621.363,536,898MEDIASET SPA922,9900.411,062,153MONCLER SPA82,2101.373,584,947OVS SPA AZ558,4031.734,505,167RECORDATI INDUSTRIA CHIMICA E187,0141.584,112,867YOOX NET A PORTER GROUP SPA119,041


0.842,194,421APERAM66,7201.223,176,714GRAND CITY PROPERTIES S.A.148,514


1.624,224,162IMCD B.V124,0031.042,709,656KONINKLIJKE BAM GROEP NV528,1980.922,402,663REFRESCO GERBER BV151,492

0.15394,968Norway

0.15394,968DET NORSKE OLJESELSKAP68,737

3.739,728,627Spain

1.072,788,038EDP RENOVAVEIS384,5571.443,751,317MERLIN PROPERTIES324,9301.223,189,272NH HOTELES632,792

1.574,089,031Sweden

0.932,420,944BOLIDEN AB155,1530.641,668,087COM HEM HOLDING AB198,914


0.842,193,280TEMENOS GROUP AG-NOM45,909


0.792,065,360AMEC FOSTER WHEELER PLC354,9251.554,031,637ASOS86,1060.932,425,851CINEWORLD GROUP WI317,8621.153,008,610CRODA INTERNATIONAL PLC72,8960.872,264,301DIALOG SEMICONDUCTOR72,7720.982,544,675ESSENTRA PLC226,5160.481,260,493EXOVA GROUP PLC641,8281.433,739,902GREAT PORTLAND ESTATES332,9100.992,595,151HAYS PLC1,311,0052.225,768,907HIKMA PHARMACEUTICALS184,788

22

Equity Europe Small Cap



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Quantity

EUR

1.142,967,929INCHCAPE278,6641.002,596,740INFORMA PLC312,2231.533,991,317JUST EAT595,8681.413,686,092MERLIN ENTERTAINMENTS PLC596,4511.574,097,276ST JAMES’S PLACE299,5930.521,367,564TAYLOR WINPEY PLC496,2890.962,506,316TRAVIS PERKINS93,6280.751,949,914ULTRA ELECTRONICS HOLDINGS72,732



3.539,211,879AMUNDI CASH INST SRI I C420.501,309,740AMUNDI TRESO COURT TERM PART PC13,051


23


Equity Global Gold Mines


% o

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Quantity

USD


99.43104,672,668Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market99.43104,672,668Shares2.542,678,655Australia

1.401,478,544NEWCREST MINING156,6821.141,200,111OCEANAGOLD631,455

67.8371,403,715Canada

9.8110,321,573AGNICO EAGLE MINES394,2102.682,825,503ALAMOS GOLD SHS A862,6000.52544,286ARGONAUT GOLD635,3392.482,614,771BARRICK GOLD CORP354,6984.264,484,401B2GOLD4,449,4006.196,513,600DETOUR GOLD627,8881.821,916,791DOMINION DIAMOND CORP188,3003.844,043,105ELDORADO GOLD CORP1,369,7974.724,974,052FRANCO NEVADA109,1529.6810,177,025GOLDCORP884,0920.981,035,161KINROSS GOLD572,8740.55575,570MAG SILVER81,8333.133,295,989NEW GOLD1,421,8542.462,586,929OSISKO GOLD262,8701.081,141,469PRIMERO MINING508,2002.112,221,812SEMAFO INC879,2764.604,847,526SILVER WHEATON390,3002.983,135,820TAHOE RESOURCES INC363,9000.57594,912TERANGA GOLD CORP1,686,4822.262,381,288TOREX GOLD RESOURCES2,625,2251.111,172,132YAMANA GOLD633,532

13.4314,137,320Jersey

3.733,923,462POLYMETAL INTERNATIONAL PLC455,4417.608,003,886RANDGOLD RESOURCES131,0792.102,209,972RANDGOLD RESOURCES ADR35,685

2.472,598,678South Africa

2.472,598,678GOLD FIELDS LIMITED954,213


3.954,158,683FRESNILLO PLC-W/I398,538


4.644,884,897NEWMONT MINING CORP271,5343.563,745,469ROYAL GOLD INC102,7001.011,065,251STILLWATER MINING COMPANY124,300


24

Equity Global Luxury and Lifestyle



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Quantity

USD


98.06177,792,973Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market98.06177,792,973Shares12.3422,366,948Automobiles and Parts

0.801,444,896ADVANCE AUTO PARTS9,6002.875,189,917DAIMLER61,5830.901,637,443DELPHI AUTOMOTIVE PLC19,1000.811,470,279DENSO CORP30,4001.242,245,048MAZDA MOTOR CORP107,0002.093,789,398RENAULT SA37,6590.871,584,066TESLA MOTOR INC6,6001.512,738,867TOYOTA MOTOR CORP44,0001.252,267,034VALEO14,640

0.891,605,150Banks

0.891,605,150SVB FINANCIAL GROUP13,500

2.544,597,231Beverages

1.202,175,410PERNOD RICARD19,0361.342,421,821REMY COINTREAU33,774


5.8110,543,884AMAZON.COM15,6001.232,225,730AUTOZONE INC3,0000.911,653,366DUFRY AG REG13,7924.438,040,800HOME DEPOT INC60,8001.152,081,716NETFLIX18,2001.352,449,179NITORI28,8002.324,207,335PRICELINE GROUP3,3000.901,637,485RAKUTEN140,4002.564,649,184ROSS STORES INC86,4001.342,431,398SEVEN & I HOLDINGS CO LTD52,7000.701,262,905TIFFANY & CO16,5540.781,419,363WILLIAMS-SONOMA24,3001.733,129,390YOOX NET A PORTER GROUP SPA83,380


0.881,593,855ESSILOR INTERNATIONAL12,7530.50912,730RESMED17,000


2.224,029,955RECKITT BENCKISER GROUP PLC43,5330.931,689,005WHIRLPOOL CORP11,500

1.332,415,675Leisure Goods

1.332,415,675SONY CORP96,800

12.5022,660,315Media

1.863,368,871COMCAST CLASS A59,7001.412,559,940DENTSU INC46,1000.921,673,832INTERPUBLIC GROUP OF COS INC71,9001.202,172,076ITV532,8071.051,894,831TIME WARNER29,300

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Mark

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Quantity

USD

4.017,282,044WALT DISNEY COMPANY69,3002.053,708,721WPP PLC160,995


1.011,832,959ADIDAS NOM18,7670.781,415,858CHRISTIAN DIOR SE8,3151.031,867,230CIE FINANCIERE RICHEMONT SA25,9241.592,888,368ESTEE LAUDER COMPANIES INC-A32,8000.891,605,220HERMES INTERNATIONAL4,7401.552,807,544L’OREAL16,6420.821,489,404LUXOTTICA GROUP22,7001.091,969,180MONCLER SPA140,3052.424,388,250NIKE INC -B-70,2120.841,524,129VF CORP24,484


1.222,218,750ALLERGAN PLC7,1001.843,317,856JOHNSON & JOHNSON32,3001.292,344,140PERRIGO COMPANY PLC16,2000.841,530,304SHIRE22,1011.332,415,552TEVA PHARMACEUTICAL IND. ADR36,800

0.801,456,955Real Estate Investment and Services

0.801,456,955AEON MALL84,100

1.693,060,831Real Estate Investment Trusts

1.693,060,831BRITISH LAND CO PLC264,219


0.721,313,228ILIAD5,4950.931,665,592LINKEDIN CORP CLASS A7,4000.701,276,034SQUARE ENIX52,300


0.991,787,473RECRUIT HOLDING CO LTD60,400


3.616,535,284ALPHABET INC8,4001.813,288,849APPLE INC31,245

8.9316,191,384Travel, Leisure and Catering

1.001,819,563ACCOR SA41,8702.374,303,920CARNIVAL CORP79,0001.112,004,344INTERCONT HOTELS GROUP PLC51,1641.663,002,648RESORTTRUST112,7001.803,259,629STARBUCKS54,3000.991,801,280STARWOOD HTLS & RESORTS WORLD26,000


1.011,839,101Share/Units in investment funds1.011,839,101Investment Fund

1.011,839,101AMUNDI TRESO DOLLAR81


25


Equity Global Agriculture


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Quantity

USD



7.688,596,452BUNGE LTD125,9000.12138,744COSAN CL A37,600

3.624,050,206Brazil

3.503,913,824BRF SP ADR283,2000.12136,382SLC AGRICOLA32,800

6.697,487,218Canada

3.734,175,535AGRIUM INC46,9002.963,311,683POTASH CORP OF SASKATCHEWAN194,100

1.131,267,973Cayman Islands

1.131,267,973WH GROUP LTD2,269,500

0.51568,399Chile

0.51568,399SOC QUIM&MIN SP ADR29,900

0.27303,860Germany

0.19216,365BAYER AG1,7200.0887,495K+S AG3,410

5.145,753,008Japan

2.723,044,782KUBOTA CORPORATION194,0002.422,708,226NH FOODS SHS137,000


0.991,110,955CORBION45,830

5.936,644,206Norway

3.303,701,091MARINE HARVEST273,9111.551,736,886SALMAR ASA99,1861.081,206,229YARA INTERNATIONAL ASA27,884

3.764,208,563Singapore

0.931,044,269FIRST RESOURCES LTD771,6002.833,164,294WILMAR INTERNATIONAL1,526,900

0.11122,697Spain

0.11122,697VISCOFAN2,030


7.828,754,725SYNGENTA AG-NOM22,339


4.715,280,639ASSOCIATED BRITISH FOODS107,2081.591,776,252CRODA INTERNATIONAL PLC39,6180.47523,124TATE & LYLE PLC59,255


0.10115,450ANDERSONS INC3,650

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Quantity

USD

8.219,195,676ARCHER-DANIELS MIDLAND CO250,7002.302,578,739CELANESE SER A38,3003.293,681,062CF INDUSTRIES HOLDINGS INC90,2000.10112,564DARLING INGREDIENTS10,7004.545,079,582DEERE & CO66,6002.342,625,480DOW CHEMICAL CO51,0004.945,529,968INGREDION57,7000.991,112,652INTERNATIONAL FLAVORS & FRAGRANCES9,3005.085,684,604MONSANTO57,7003.343,741,204MOSAIC CO THE -WI135,6001.151,292,265PILGRIMS PRIDE58,5009.7110,873,987TYSON FOODS -A-203,900


26

Equity Global Resources



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Quantity

USD


98.2784,561,008Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market98.2784,561,008Shares9.648,292,738Australia

4.754,084,926ALUMINA LTD4,861,0130.1191,078BHP BILLITON LTD7,0094.784,116,734NEWCREST MINING436,252

0.31265,280Belgium

0.31265,280SOLVAY2,481

17.3114,897,248Canada

0.45390,126AGNICO EAGLE MINES14,9007.526,472,460BARRICK GOLD CORP878,0004.493,861,572GOLDCORP335,4600.88753,449SUNCOR ENERGY INC. (NOUV. STE)29,3003.973,419,641YAMANA GOLD1,848,300

0.00-Cayman Islands

0.00-APEX SILVER MINES43,918

4.193,604,114France

4.193,604,114TOTAL80,402

0.18154,645Germany

0.18154,645BASF SE2,013

0.52445,552Japan

0.52445,552SHIN-ETSU CHEMICAL CO LTD8,100

0.0543,887Netherlands

0.0543,887AKZO NOBEL NV-CVA655

9.067,794,128Norway

4.934,238,341NORSK HYDRO ASA1,132,3624.133,555,787STATOILHYDRO ASA254,435

0.31262,609Sweden

0.31262,609BOLIDEN AB15,493


1.09940,847ANTOFAGASTA PLC136,0240.98846,568BG GROUP PLC58,3140.0981,433BHP BILLITON PLC7,2708.607,392,448ROYAL DUTCH SHELL PLC-A322,596


2.221,912,617AIR PRODUCTS & CHEMICALS INC14,7001.271,092,195ALBEMARLE19,5005.664,870,845ALCOA INC493,5003.543,046,195APACHE CORP68,5005.144,423,581CELANESE SER A65,7000.0974,704CONOCOPHILLIPS1,600

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Quantity

USD

0.30262,400DEVON ENERGY CORPORATION8,2004.643,989,700DOW CHEMICAL CO77,5004.714,053,400EXXON MOBIL CORP52,0003.653,141,989HESS CORP64,8100.25218,660INTERNATIONAL PAPER5,8002.352,021,954MARATHON OIL CORP160,6000.70606,528MARATHON PETROLEUM11,7000.41354,672MONSANTO3,6000.21184,853MOSAIC CO THE -WI6,7007.436,381,053NEWMONT MINING CORP354,7000.1088,660NUCOR CORP2,2000.35304,245OCCIDENTAL PETROLEUM CORP4,5002.922,511,260PHILLIPS 6630,700


27

Equity ASEAN



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Quantity

USD99.9677,511,325Long positions

99.9677,511,325Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market99.9677,510,973Shares1.08839,268India1.08839,268BANK NEGARA INDONESIA PERSERO2,318,500

18.6214,441,783Indonesia0.52400,415ANEKA KIMIA RAYA769,3000.44343,905ASTRA AGRO LESTARI299,1000.50385,814ASTRA OTOPARTS3,324,0301.841,427,832BANK CENTRAL ASIA1,479,9000.53411,578BUMI SERPONG DAMAI3,152,0000.67519,151CHAROEN POKPHAND2,752,5001.14886,942GUDANG GARAM222,3001.07831,944INDOCEMENT TUNGGAL PRAKARSA TBK PT513,7000.89692,665INDOFOOD CBP708,6000.41319,282MALINDO FEEDMILL TBK2,886,1001.28996,120MATAHARI DEPARTMENT STORE TB780,2000.27209,870MODERN INTERNASIONAL TBK PT19,287,1000.32245,519PP LONDON SUMATRA2,564,0002.151,665,223PT BANK RAKYAT INDONESIA2,009,2000.93724,184PT JASA MARGA TBK1,910,6000.84648,688PT SEMEN GRESIK TBK784,4000.68524,133PT XL AXIATA TBK1,979,5003.442,666,021TELKOM INDONESIA SERIE B11,836,1000.70542,497WASKITA KARYA4,478,041

19.6415,230,368Malaysia0.96746,474AXIATA GROUP BHD500,0001.00776,877CIMB GROUP HOLDINGS BERHAD734,7000.59460,447DIGI.COM BHD366,1000.86669,754GLOBETRONICS TECHNOLOGY BHD442,4001.24963,203IHH HEALTHCARE BHD628,5001.08839,405INARI AMERTRON786,9001.17904,200KAREX BHD940,0000.55429,745KOSSAN RUBBER INDUSTRIES198,4001.631,262,964KUALA LUMPUR KEPONG237,0002.101,619,600MALAYAN BANKING827,8311.371,063,850MALAYSIA AIRPORTS814,2000.78605,480MAXIS BERHAD382,3000.62479,901MISC219,9000.89688,645PETRONAS CHEMICALS406,7001.781,379,450PUBLIC BANK BHD319,8000.62480,527TELEKOM MALAYSIA BHD304,3001.481,147,559TENAGA NASIONAL369,9000.92712,287TOP GLOVE225,200

0.74576,721Mauritius0.74576,721GOLDEN AGRI-RESSOURCES LTD2,406,400

12.389,599,292Philippines1.06822,759AYALA LAND INC1,123,800

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Quantity

USD

1.09847,246JG SUMMIT HLDG543,8901.07827,335METRO BANK & TRUST483,6050.49379,342PHIL LONG DIST TEL8,6650.61472,180PUREGOLD PRICE CLUB INC640,3001.22948,869ROBINSONS LAND CORPORATION1,623,6000.80623,485SECURITY BANK206,6060.81625,223SEMIRARA MINING AND POWER CORPORATION215,5300.58446,313SM PRIME HLDGS967,8001.11863,534UNIVERSAL ROBINA218,460

31.8624,695,922Singapore0.38293,785ASCENDAS REAL ESTATE INV TRUST182,8001.641,273,486CAPITALAND539,3000.33256,441CAPITALAND MALL TRUST188,5000.99764,100CITY DEVELOPMENTS LTD141,7006.364,924,640DBS GROUP HOLDINGS LTD418,6000.76588,992FIRST RESOURCES LTD435,2001.661,288,331GLOBAL LOGISTIC PROPERTIE850,1001.361,052,934HONG LEONG FIN GRP323,8390.49377,200KEPPEL CORPORATION LTD82,2004.363,384,356OVERSEA-CHINESE BANKING545,6000.56436,924SINGAPORE EXCHANGE80,5005.494,249,553SINGAPORE TELECOMM1,642,7004.553,527,583UNITED OVERSEAS BANK LTD255,2001.321,027,047UOL GROUP LTD233,5000.71552,907WILMAR INTERNATIONAL266,8000.90697,643YANLORD LAND GROUP984,800

15.6412,127,619Thailand0.76593,047ADVANCED INFO SCE PUB RGD - F140,4001.03799,978AIRPORTS THAILAND-FOREIGN83,2000.29226,603BANGKOK AIRWAYS FOREIGN353,0000.70545,091BANGKOK DUSIT MEDICAL SERVICES PUBLIC CO

LTD FOREIGN879,600

0.62481,398BUMRUNGRAD HOSPIT FOREIGN82,1000.62484,563CENTRAL PATTANA PUBLIC F371,0000.61471,178IRPC PUBLIC COMPANY FOREIGN3,943,1001.871,444,148KASIKORNBANK PCL-NVDR345,3000.74577,268LAND & HOUSES NVDR2,198,2000.89693,833MAJOR CINEPLEX GROUP PUBLIC CO LTD -

FOREIGN -708,300

0.37290,448MERMAID MARITIME2,747,0000.47363,902PTT GLOBAL CHEM F261,9000.96745,188PTT PUBLIC COMPANY FOREIGN109,9002.541,960,927SIAM CEMENT (NVDR)153,4000.98756,485SIAM COMMCL BANK -F-227,8000.93719,258SINO THAI - F1,035,3000.75581,068SRISAWAD POWER 1979 PLC -F437,9000.51393,236STAR PETROLEUM REFINING PUBLIC COMPANY

LTD1,563,600

0.71554,034BLOOMBERRY5,742,3001.811,402,036CENTURY PACIFIC FOOD4,003,200

0.00352Warrants, Rights0.0052Indonesia0.0052PT MALINDO FEEDMILL TBK RIGHTS 721,525

0.00300Singapore0.00300ASCENDAS REAL ESTATE INVESTMENT TRUST

RIGHTS 13/01/20166,855

99.9677,511,325Total securities portfolio0.73565,349FIRST GEN1,177,1000.29221,587GLOBE TELECOM5,630

28

Equity Asia ex Japan



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USD



0.66604,472KERRY PROPERTIES LTD221,5001.06970,106LUYE PHARMA GROUP LTD930,5000.92837,259SHENZHEN INTL HOLD452,500

1.421,295,471British Virgin Islands

1.421,295,471KERRY LOGISTICS NETWORK LTD888,500

14.3913,140,321Cayman Islands

1.751,597,443ALIBABA GROUP HOLDING-SP ADR19,6560.75688,196CHINA RESOURCES LAND LTD236,0001.341,224,193CK HUTCHISON HOLDINGS LTD90,7041.181,078,049HKBN LTD835,5001.00909,873JD.COM ADR28,2001.00911,161MGM CHINA HOLDINGS LTD728,0001.721,572,710NEXTEER AUTOMOTIVE GROUP LTD1,414,0001.211,101,723SANDS CHINA LTD321,6003.353,063,728TENCENT HOLDINGS LTD155,7001.09993,245TINGYI HOLDING696,000

7.827,137,250China

3.052,781,714CHINA CONSTRUCTION BANK H4,060,0000.79717,720CHINA VANKE CO LTD-H242,9000.89814,873HUANENG POWER INTL INC-H944,0001.491,358,191INDUSTRIAL & COMMERCIAL BANK OF CHINA-H2,249,1751.601,464,752PING AN INSURANCE GROUP CO-H264,000

11.0410,086,576Hong Kong (China)

4.183,814,530AIA GROUP LTD634,4000.57524,199BEST PACIFIC INTERNAL1,098,0000.34310,225CHEUNG KONG PROPERTY HOLDINGS LTD47,7042.952,692,702CHINA MOBILE LTD238,5001.331,214,330CHINA OVERSEAS LAND & INVESTMENT LTD346,0000.55504,805CHINA UNICOM HONG KONG LTD414,0001.121,025,785POWER ASSETS HOLDINGS LTD111,500

11.3710,384,543India

1.00916,295CONTAINER CORPN46,1682.362,148,804HDFC BANK104,5271.291,179,809HOUSING DEVELOPMENT FINANCE CORP LTD61,7621.641,494,254INDUSIND BANK LTD102,0221.04948,065INFOSYS TECHNOLOGIES56,7401.05963,329ITC LTD194,4180.58526,823LUPIN18,9700.91832,991MARUTI SUZUKI SHS11,9231.501,374,173ULTRA TECH CEMENT32,695

1.371,251,487Indonesia

0.72656,535ASTRA AGRO LESTARI571,0000.32296,392BANK CENTRAL ASIA307,200

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Quantity

USD

0.33298,560WASKITA KARYA2,464,458

1.601,459,901Philippines

0.33299,518INTEGRATED MICRO-ELECTRONICS INC2,498,9000.73662,788SECURITY BANK219,6300.54497,595SM PRIME HLDGS1,079,000

3.853,514,931Singapore

0.77707,049DBS GROUP HOLDINGS LTD60,1001.07975,808INDOFOOD AGRI RESOURCES LTD2,825,2000.50455,816SINGAPORE POST394,3001.511,376,258WILMAR INTERNATIONAL664,100

0.36329,269South Africa

0.36329,269SUPER GROUP556,100

18.5916,976,180South Korea

1.02931,035BING GRAE15,9371.271,160,138EO TECHNICS10,9001.07977,628HYUNDAI F & M INS31,7980.60544,129HYUNDAI MOTOR4,2821.241,135,039KAKAO CORP11,4935.875,372,905SAMSUNG ELECTRONICS CO LTD5,0001.05954,848SAMSUNG FIRE & MARINE3,6412.922,666,436SAMSUNG LIFE INSURANCE CO28,4232.562,334,199SK HYNIX INC89,0070.99899,823SK TELECOM4,896

16.9215,455,123Taiwan

1.02927,632ADLINK TECHNOLOGY INC400,9202.101,918,805ADVANTECH298,0000.76695,841CHINA LIFE INSURANCE905,2000.65595,338DELTA ELECTRONIC INDUSTRIAL INC125,7560.49443,876FUBON FINANCIAL HOLDING324,0002.181,987,737INOTERA MEMORIES2,336,0000.48441,441MEDIATEK INC58,0000.47429,911NANYA TECH CO309,0001.521,385,210TAIWAN MOBILE CO LTD455,0005.144,706,548TAIWAN SEMICONDUCTOR MANUFACTURING CO

LTD1,081,091

0.70636,798UNI-PRESIDENT ENTERPRISES CORP381,0001.411,285,986YAGEO794,000

0.83757,166United Kingdom

0.83757,166HSBC HOLDINGS HKD94,800


0.97888,488BAIDU ADS4,7001.03940,236CHINA BIOLOGIC PRODUCTS INC6,600

0.0217,290Warrants, Rights0.0217,290Taiwan

0.018,167ADLINK TECHNOLOGY INC RIGHTS 11/01/201622,3550.019,123NANYA TECHNOLOGY CORPORATION RIGHTS

08/01/201632,572

29


Equity Asia ex Japan


% o

f NaV

Mark

et V

alu

e

Quantity

USD


4.494,101,463Share/Units in investment funds4.494,101,463Luxembourg

4.494,101,463AMUNDI INTERINVEST CHINA A SHARES I C2,259


30

Equity Brazil



% o

f NaV

Mark

et V

alu

e

Quantity

USD


91.0717,814,437Transferable securities admitted to an official stock exchangelisting and/or dealt in on another regulated market89.2917,467,282Shares6.361,243,890Aerospace and Defense

2.43476,175EMBRAER EMPRESA62,4003.93767,715EMBRAER SA ADR25,989

1.88366,860Automobiles and Parts

1.41274,216IOCHPE MAXION88,2000.4792,644TUPY SA19,600

14.272,790,742Banks

5.261,026,435BANCO BRADESCO PFD210,6232.34458,412BANCO BRADESCO-SPONSORED ADR95,3042.37463,486BANCO DO BRASIL SA124,4002.06403,869ITAU UNIBANCO HLDG65,0042.24438,540ITAU UNIBANCO HOLDING SA65,893

5.801,134,014Beverages

5.801,134,014AMBEV SA251,340

4.81941,376Electricity

1.57306,078AES TIETE83,8001.18230,400CEMIG SP ADR153,6000.3569,266CPELBN SP.ADR11,8000.57111,491CPFL ENERGIA29,0570.3262,350CPFL ENERGY8,4030.57111,994ENERGIAS DO BRASIL S.A36,8000.2549,797LIGHT S.A.19,900

1.73338,207Electronic and Electrical Equipment

1.73338,207WEG SA PFD89,500


2.45479,232BOLSA DE MERCADORI174,1000.66128,905BRADESPAR PREF102,2002.72531,709CETIP BALCAO ORG.ATIVOS DERIV.56,0954.77933,368CIELO109,9326.751,322,317ITAUSA INVESTIMENTOS PREF760,376

3.34652,503Fixed Line Telecommunications

1.30255,168TELEF BRAZIL29,7000.1120,784TELEF BRAZIL PFD2,3001.93376,551TELEFONICA BRAZIL ADR 1 PFD41,700


3.66718,366BRF51,3000.2344,224BRF SP ADR3,2000.65126,757COSAN19,9000.89173,688COSAN CL A47,0700.78153,444MARFRIG GLOBAL FOODS95,6000.69134,472MINERVA40,0000.5097,223SAO MARTINHO SA8,400

% o

f NaV

Mark

et V

alu

e

Quantity

USD

11.012,153,293Forestry and Paper

1.56304,560FIBRIA CELULOSE SA24,0004.26832,795KLABIN SA UNIT140,5005.191,015,938SUZANO BAHIA SUL PAPEL PFD A215,050

1.05205,620Gas, Water and Multiutilities

1.05205,620SABESP SP.ADR44,700

0.73142,044General Retailers

0.58113,016ANIMA32,4000.1529,028SMILES3,300

0.4894,376Industrial Engineering

0.1018,705MARCOPOLO PREF40,0000.3875,671MARCOPOLO SA176,102

1.49291,561Industrial Metals and Mining

0.92180,147GERDAU SA204,8000.1428,029METALURGICA GERDAU PREF66,8000.4383,385VALE SA - PREF ADR32,700

1.58308,194Industrial Transportation

1.02198,898CCR SA62,7000.56109,296TEGMA GESTAO LOGISTICA S.A.92,000

0.1020,187Media

0.1020,187SARAIVA SA LIVREIROS EDITORES16,200

0.64125,412Mobile Telecommunications

0.64125,412LINX11,200

0.1733,845Nonequity Investment Instruments

0.1733,845PORTO SUDESTE ROYALTIES FUNDO DEINVESTIMENTO

51,499

2.13415,726Nonlife Insurance

2.13415,726BB SEGURIDADE PARTICIPACOES SA67,600

3.53690,880Oil and Gas Producers

3.53690,880PETROLEO BRASILEIRO-SP ADR203,200

0.1734,053Personal Goods

0.1734,053GRENDENE SA8,000

0.3160,912Pharmaceuticals and Biotechnology

0.3160,912HYPERMARCAS11,100

1.00196,363Real Estate Investment and Services

0.79156,101EZ TEC EMPREENDIMENTOS PARTICI48,3990.2140,262JHSF PARTICIPACOES125,421

0.65127,846Software and Computer Services

0.65127,846TOTVS16,300

1.31255,673Support Services

1.31255,673VALID SOLUCOES SA23,800

31

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