diaman sicav - bper banca · 2020. 9. 17. · diaman sicav statement of operations and changes in...

DIAMAN SICAV

DIAMAN SICAV

Investment Company with Variable Capital ("SICAV") with multiple sub-funds governed by Luxembourg law

Unaudited Semi-Annual Report as at 30 June 2020

Luxembourg Trade and Companies Register (R.C.S.) no. B 119.895

Subscriptions may only be accepted on the basis of the latest prospectus which is only valid if accompanied by the last available annual report and, if applicable, the last available half-yearly report if the latter was published after the last annual report.

DIAMAN SICAV

Table of contents

Table of contents

Organization ............................................................................................................................................................ 4

General information of the SICAV ........................................................................................................................... 5

Combined Statement of Net Assets as at 30 June 2020 .......................................................................................... 7

Combined Statement of Operations and Changes in Net assets from 1 January 2020 to 30 June 2020 ................. 8

Statement of Net Assets as at 30 June 2020 ........................................................................................................... 9

Statement of Operations and Changes in Net Assets from 1 January 2020 to 30 June 2020 ................................ 11

Schedule of Investments as at 30 June 2020 ......................................................................................................... 13

Geographic Allocation as at 30 June 2020 ............................................................................................................. 16

Economic Allocation as at 30 June 2020 ............................................................................................................... 17

Currency Allocation as at 30 June 2020................................................................................................................. 18

Changes in the number of shares .......................................................................................................................... 19

Changes in Capital, Total Net Assets and Net Asset Value per Share .................................................................... 20

Notes to the financial statements as at 30 June 2020 ........................................................................................... 21

Other information as at 30 June 2020 ................................................................................................................... 26

DIAMAN SICAV

Organization

4

Organization

Registered Office:

12, rue Eugène Ruppert, L-2453 Luxembourg

Date of Constitution:

4 October 2006

Board of Directors of the Fund:

Chairman:

- Daniele BERNARDI, Managing Director DIAMAN SCF S.r.l.

Directors:

- Massimo SCOLARI, Independent Consultant - Antonio TRICARICO, Attaché de Direction

Degroof Petercam Asset Services S.A.

Domiciliary and Corporate Agent, Administrative and Paying Agent, Registrar and Transfer Agent:

Degroof Petercam Asset Services S.A. 12, rue Eugène Ruppert, L-2453 Luxembourg

Depositary:

Banque Degroof Petercam Luxembourg S.A. 12, rue Eugène Ruppert, L-2453 Luxembourg

Cabinet de Révision agréé:

Deloitte Audit, Société à responsabilité limitée 20, boulevard de Kockelscheuer, L-1821 Luxembourg

Management Company:

Degroof Petercam Asset Services S.A. 12, rue Eugène Ruppert, L-2453 Luxembourg

Representative and Paying Agent for Italy:

Allfunds Bank S.A. 6, Via Bocchetto, I-20123 Milano

DIAMAN SICAV

General information of the SICAV

5

General information of the fund

DIAMAN SICAV (the «SICAV») was established as an Investment Company with Variable Capital («SICAV») on 4 October 2006 for an unlimited number of years, in accordance with part I of the Law of 17 December 2010 relating to Undertakings for Collective Investment in Transferable Securities (UCITS) of the Grand-Duchy of Luxembourg as amended. Its Articles of Incorporation are registered with the «Greffe du Tribunal d’Arrondissement» of Luxembourg where they are available for inspection. Copies may be obtained there. Semi-annual report and annual report including audited financial statement, the net asset value, the subscription price and the redemption price along with any other notices to the shareholders are available at the registered offices of the SICAV, and the Management Company and from all distributors. The following Sub-Funds are in operation as at 30 June 2020 : - DIAMAN SICAV Dynamic Income, denominated in EUR ; - DIAMAN SICAV Mathematics, denominated in EUR. DIAMAN SICAV Dynamic Income and Mathematics, offer four classes of shares which differ in the status of the investors, the fees level and the minimum amounts of investment: - Class I EUR Institutional Shares, intended for institutional investors ; - Class P EUR Private Shares, intended for all types of investors subscribing through regulated European Stock Exchange ; - Class R EUR Retail Shares, intended for direct distribution to retail investors ; - Class R CHF Retail Shares, intended for direct distribution to retail investors. The difference between these classes of Shares relates to the status of the investors, the fees level, the minimum investment and the currency. Class R CHF will be managed in such a way as to hedge against the foreign exchange rate risk of currencies linked to the EUR. In this respect the hedging technique performed by the Management Company is based on a periodic roll-over of forward agreements EUR-CHF. The Net Asset Value Calculation for each Sub-Fund is made on a daily basis. As the size of the remaining assets of the SICAV may not anymore guarantee an efficient management of the SICAV, a meeting has been convened on 23 March 2020 by the Board of Directors. Its results are : - Decision of liquidation taken by the Board of Directors;

- Nomination of a liquidator;

- Request of approval from Commission de Surveillance du Secteur Financier in Luxembourg (« CSSF »);

- Organisation of an Extraordinary General Meeting to inform the Shareholders. On 3 August 2020, the EGM has been convened to be held on 13 August 2020. The following items are on the agenda: - Winding-up and opening of the liquidation of the SICAV;

- Appointment of PricewaterhouseCoopers, Société Coopérative as liquidator of the SICAV;

- Determination of the powers and the remuneration of the liquidator;

- Appointment of Deloitte Audit SA as auditor to the liquidation of the SICAV; and

- Miscellaneous.

DIAMAN SICAV

General information of the SICAV

6

The Board of Directors of the SICAV has also decided, in order to ensure equal treatment of shareholders, to suspend the calculation of the net asset value, the issue, redemption and conversion of the SICAV's shares as soon as a general meeting of shareholders is convened to deliberate on the dissolution of the SICAV. Consequently, please note that the calculation of the net asset value of the shares, the issue, redemption and conversion of shares of the SICAV will be suspended as from Monday 3 August 2020.

DIAMAN SICAV

Combined Statement of Net Assets as at 30 June 2020

The accompanying notes form an integral part of these Financial Statements.

7

Combined Statement of Net Assets as at 30 June 2020 The accompanying notes form an integral part of these Financial St atements.

NOTES COMBINED (IN EUR)

Assets

Investments in Securities 1a 1,410,608.00

Cash at Banks 198,788.19

Interest Receivable on Bonds 2,678.47

Dividends Receivable on Shares 541.29

Total Assets 1,612,615.95

Liabilities

Taxes and Expenses Payable 2 176,860.71

Interest Payable on Deposit 110.00

Total Liabilities 176,970.71

Total Net Assets at the End of the Period 1,435,645.24

DIAMAN SICAV

Combined Statement of Operations and Changes in Net assets

from 1 January 2020 to 30 June 2020


8

Combined Statement of Operations and Changes in Net ass ets from 1 January 2020 to 30 June 2020

Combined Statement of Operations and Changes in Net assets from 1 January 2020 to 30 June 2020 The accompanying notes form an integral part of these Financial St atements.

NOTES COMBINED (IN EUR)

Income Dividends, Net of Taxes 1g 10,581.75 Interest on Bonds, Net of Taxes 1g 2,997.51 Tax Claim 1,799.43 Other Income 3,532.83 Total Income 18,911.52

Expenses Management Company Fees 5 4,502.85 Marketing Fees 6 7,305.90 Depositary Fees 17,843.76 Subscription Tax 4 264.43 Administration Fees 74,614.23 Miscellaneous Fees 7 121,159.51 Transactions Fees 8 930.00 Overdraft Interest 151.52 Taxes Paid to Foreign Authorities 9,640.07 Total Expenses 236,412.27

Net Profit / (Loss) -217,500.75

Net Realised Profit / (Loss)

- on Investments 1b 2,107.77 - on Currencies 1b 205.97

Total Net Realised Profit / (Loss) -215,187.01 Change in Net Unrealised Appreciation / (Depreciation)

- on Investments 1e -83,845.49 - on Currencies 154,894.34

Result of Operations -144,138.16

- Subscriptions 93,083.11

- Redemptions -945,579.36

Net Changes in Net Assets -996,634.41 Total Net Assets at the Beginning of the Period 2,432,279.65 Total Net Assets at the End of the Period 1,435,645.24

DIAMAN SICAV

Statement of Net Assets as at 30 June 2020


9

Statement of Net Assets as at 30 June 2020 The accompanying notes form an integral part of these Financial St atements.

DIAMAN SICAV Dynamic Income

NOTES

VALUE (IN EUR)

Assets

Investments in Securities 1a 263,685.35 Cash at Banks 84,976.00 Interest Receivable on Bonds 1,756.34 Dividends Receivable on Shares 0.00 Total Assets 350,417.69

Liabilities

Taxes and Expenses Payable 2 53,329.66 Interest Payable on Deposit 110.00 Total Liabilities 53,439.66

Total Net Assets at the End of the Period 296,978.03

Number of Shares Outstanding (at the end of the period)

- I EUR 195.408

- R EUR 3,685.309

Net Asset Value per Share (at the end of the period)

- I EUR 84.71 - R EUR 76.09

DIAMAN SICAV

Statement of Net Assets as at 30 June 2020


10

DIAMAN SICAV Mathematics

NOTES

VALUE (IN EUR)

Assets

Investments in Securities 1a 1,146,922.65 Cash at Banks 113,812.19 Interest Receivable on Bonds 922.13 Dividends Receivable on Shares 541.29 Total Assets 1,262,198.26

Liabilities

Taxes and Expenses Payable 2 123,531.05 Interest Payable on Deposit 0.00 Total Liabilities 123,531.05

Total Net Assets at the End of the Period 1,138,667.21

Number of Shares Outstanding (at the end of the period)

- I EUR 525.810

- R EUR 849.852

Net Asset Value per Share (at the end of the period)

- I EUR 800.34 - R EUR 844.66

DIAMAN SICAV

Statement of Operations and Changes in Net Assets



11

Statement of Operations and Changes in Net Assets from 1 January 2020 to 30 June 2020

Statement of Operations and Changes in Net Assets from 1 January 2020 to 30 June 2020 The accompanying notes form an integral part of these Financial St atements.


NOTES

VALUE (IN EUR)

Income Dividends, Net of Taxes 1g 31.50 Interest on Bonds, Net of Taxes 1g 2,410.42 Tax Claim 203.04 Other Income 248.47 Total Income 2,893.43

Expenses Management Company Fees 5 2,016.51 Marketing Fees 6 1,192.12 Depositary Fees 11,059.00 Subscription Tax 4 69.59 Administration Fees 24,979.40 Miscellaneous Fees 7 19,073.37 Transactions Fees 8 165.00 Overdraft Interest 151.52 Taxes Paid to Foreign Authorities 0.00 Total Expenses 58,706.51



- on Investments 1b -16,899.33 - on Currencies 1b -54.34




- Subscriptions 0.00


Net Changes in Net Assets -116,613.14 Total Net Assets at the Beginning of the Period 413,591.17 Total Net Assets at the End of the Period 296,978.03

DIAMAN SICAV

Statement of Operations and Changes in Net Assets



12


NOTES

VALUE (IN EUR)

Income Dividends, Net of Taxes 1g 10,550.25 Interest on Bonds, Net of Taxes 1g 587.09 Tax Claim 1,596.39 Other Income 3,284.36 Total Income 16,018.09

Expenses Management Company Fees 5 2,486.34 Marketing Fees 6 6,113.78 Depositary Fees 6,784.76 Subscription Tax 4 194.84 Administration Fees 49,634.83 Miscellaneous Fees 7 102,086.14 Transactions Fees 8 765.00 Overdraft Interest 0.00 Taxes Paid to Foreign Authorities 9,640.07 Total Expenses 177,705.76



- on Investments 1b 19,007.10 - on Currencies 1b 260.31




- Subscriptions 93,083.11


Net Changes in Net Assets -880,021.27 Total Net Assets at the Beginning of the Period 2,018,688.48 Total Net Assets at the End of the Period 1,138,667.21

DIAMAN SICAV

Schedule of Investments as at 30 June 2020


13

Schedule of Investments as at 30 June 2020 The accompanying notes form an integral part of these Financial St atements.


Investment Quantity CCY Cost

(in EUR) Market Value

(in EUR)

% Total Net

Assets

Transferable securities admitted to an official stock exchange or traded in an other regulated market

Bonds

GERMANY 2,25 10-040920 50,000 EUR 50,562.00 50,248.25 16.92%

ITALY BTP 4,00 10-010920 20,000 EUR 21,081.64 20,142.40 6.78%

ITALY BTP 4,75 11-010921 15,000 EUR 16,320.00 15,849.60 5.34%

SPAIN KINGDOM 5,40 13-310123 15,000 EUR 18,687.00 17,237.70 5.80%

Total EURO

106,650.64

103,477.95

34.84% Total Bonds

106,650.64

103,477.95

34.84% Money market instrument

BELGIUM KING TREASURY 0,0 19-121120 50,000 EUR 50,169.92 50,096.00 16.87%

BELGIUM TREASURY 0,00 19-100920 50,000 EUR 50,094.28 50,050.25 16.85%

Total EURO

100,264.20

100,146.25

33.72%

US TREASURY BILLS 0,00 191120 40,000 USD 36,693.11 35,593.75 11.99%

Total U.S. DOLLAR

36,693.11

35,593.75

11.99% Total Money market instrument

136,957.31

135,740.00

45.71% Total Transferable securities admitted to an official stock exchange or traded in an other regulated market

243,607.95

239,217.95

80.55%

Investment Fund

NEW MILLENNIUM VOLACTIVE -I- -CAP- 230 EUR 22,597.20 24,467.40 8.24%

Total EURO

22,597.20

24,467.40

8.24% Total Investment Fund

22,597.20

24,467.40

8.24% Other transferable securities

COGEME-COGEME SET 09-130314 8,801 EUR 8,802.69 0.00 0.00%

Total EURO

8,802.69

0.00

0.00% Total Other transferable securities

8,802.69

0.00

0.00% Total Portfolio

275,007.84

263,685.35

88.79%

DIAMAN SICAV



14




(in EUR) % Total

Net Assets

Transferable securities admitted to an official stock exchange or traded in an other regulated market

Quoted or negotiated equities

ADIDAS A.G. 119 EUR 30,696.75 27,798.40 2.44%

AMPLIFON Spa 1,162 EUR 26,161.27 27,551.02 2.42%

DAVIDE CAMPARI - MILANO SpA 2,278 EUR 16,792.50 17,085.00 1.50%

DEUTSCHE TELEKOM A.G. -REG- 1,639 EUR 25,708.70 24,494.86 2.15%

DIALOG SEMICONDUCTOR PLC 465 EUR 21,746.58 18,883.65 1.66%

DIASORIN SpA 300 EUR 30,623.67 51,120.00 4.49%

ENEL AZ 3,800 EUR 26,045.58 29,176.40 2.56%

ESSILOR LUXOTTICA S.A. 178 EUR 24,814.84 20,336.50 1.79%

FERROVIAL S.A. 993 EUR 25,751.60 23,534.10 2.07%

HERA SpA 6,719 EUR 25,395.13 22,481.77 1.97%

HERMES INTERNATIONAL S.A. 40 EUR 25,078.72 29,752.00 2.61%

NEMETSCHEK SE 679 EUR 31,826.43 41,554.80 3.65%

PERNOD RICARD S.A. 214 EUR 33,503.88 29,970.70 2.63%

PORSCHE AUTOMOBIL HLDG SE - VZ 366 EUR 25,136.88 18,724.56 1.64%

RECORDATI INDUSTRIES CHIMIC. -E- FARMAC. SpA 845 EUR 31,714.91 37,560.25 3.30%

RWE A.G. -A- 919 EUR 25,189.79 28,590.09 2.51%

SANOFI S.A. 311 EUR 25,546.29 28,192.15 2.48%

SARTORIUS STEDIM BIOTECH 234 EUR 29,592.39 52,650.00 4.62%

SCHNEIDER ELECTRIC SE 411 EUR 29,797.50 40,639.68 3.57%

SCOUT24 A.G. 479 EUR 25,597.76 33,074.95 2.90%

SIEMENS HEALTHINEERS A.G. 960 EUR 35,530.75 40,944.00 3.60%

TELEPERFORMANCE 169 EUR 32,266.53 38,177.10 3.35%

VEOLIA ENVIRONNEMENT 1,093 EUR 25,573.68 21,881.86 1.92%

VOLKSWAGEN A.G. 159 EUR 27,804.64 21,455.46 1.88%

WIENERBERGER A.G. 1,032 EUR 25,090.91 20,010.48 1.76%

WOLTERS KLUWER N.V. 512 EUR 24,569.68 35,594.24 3.13%

Total EURO

707,557.36

781,234.02

68.61% Total Quoted or negotiated equities

707,557.36

781,234.02

68.61% Bonds

GERMANY 2,25 10-040920 50,000 EUR 50,562.50 50,248.25 4.41%

Total EURO

50,562.50

50,248.25

4.41% Total Bonds

50,562.50

50,248.25

4.41% Money market instrument

BELGIUM KING TREASURY 0,0 19-121120 115,000 EUR 115,277.05 115,220.80 10.12%

BELGIUM TREASURY 0,00 19-100920 115,000 EUR 115,201.34 115,115.58 10.11%

Total EURO

230,478.39

230,336.38

20.23% Total Money market instrument

230,478.39

230,336.38

20.23% Total Transferable securities admitted to an official stock

988,598.25

1,061,818.65

93.25%

DIAMAN SICAV



15




(in EUR) % Total

Net Assets

exchange or traded in an other regulated market

Investment Fund

NEW MILLENNIUM VOLACTIVE -I- -CAP- 800 EUR 82,752.00 85,104.00 7.47%

Total EURO

82,752.00

85,104.00

7.47% Total Investment Fund

82,752.00

85,104.00

7.47% Other transferable securities

DAVIDE CAMPARI - MILA-DSO-20200522 3,278 EUR 0.00 0.00 0.00%

Total EURO

0.00

0.00

0.00% Total Other transferable securities

0.00

0.00

0.00% Total Portfolio

1,071,350.25

1,146,922.65

100.73%

DIAMAN SICAV

Geographic Allocation as at 30 June 2020

These allocations of assets were established on basis of data (gross) used by the Administration Agent and do not reflect inevitably the geographic analysis which directed the assets selection.

16

Geographic Allocation as at 30 June 2020 These allocations of assets were established on basis of data (gross) used by the Administration Agent and do not reflect inevitably the geographic analysis which directed the assets selection.

(Content)

DIAMAN SICAV Dynamic Income % TOTAL NET ASSETS

BELGIUM 33.72 % GERMANY 16.92 % ITALY 12.12 % UNITED STATES OF AMERICA 11.99 % LUXEMBOURG 8.24 % SPAIN 5.80 %

Total Portfolio 88.79 %

(Content)

DIAMAN SICAV Mathematics % TOTAL NET ASSETS

GERMANY 25.20 % FRANCE 22.97 % BELGIUM 20.23 % ITALY 16.24 % LUXEMBOURG 7.47 % NETHERLANDS 3.13 % SPAIN 2.07 % AUSTRIA 1.76 % UNITED KINGDOM 1.66 %


DIAMAN SICAV

Economic Allocation as at 30 June 2020

These allocations of assets were established on basis of data (gross) used by the Administration Agent and do not reflect inevitably the economic analysis which directed the assets selection.

17

Economic Allocation as at 30 June 2020 These allocations of assets were established on basis of data (gross) used by the Administration Agent and do not reflect inevitably the economic analysis which directed the assets sel ection.


STATE 80.55 % UNIT TRUSTS, UCITS 8.24 %



STATE 24.65 % PHARMACOLOGY & PERSONAL CARE 22.69 % ENERGY SOURCES 8.97 % UNIT TRUSTS, UCITS 7.47 % TELECOMMUNICATIONS 5.50 % TEXTILE & GARMENTS 5.05 % TOBACCO & SPIRITS 4.13 % IT & INTERNET 3.65 % ELECTRIC & ELECTRONIC MATERIALS 3.57 % ROAD VEHICLES 3.53 % PUBLISHING & BROADCASTING 3.13 % FINANCIAL SERVICES - HOLDINGS 2.90 % ROAD & RAILWAY TRANSPORTS 2.07 % BUILDING MATERIALS 1.76 % ELECTRIC & ELECTRONIC COMPONENTS 1.66 %


DIAMAN SICAV

Currency Allocation as at 30 June 2020

These allocations of assets were established on basis of data (gross) used by the Administration Agent and do not reflect inevitably the currency analysis which directed the assets selection

18

Currency Allocation as at 30 June 2020 These allocations of assets were established on basis of data (gross) used by the Administration Agent and do not reflect inevitably the currency analysis which directed the assets sel ection


EURO 76.80 % U.S. DOLLAR 11.99 %



EURO 100.73 %


DIAMAN SICAV

Changes in the number of shares

19

Changes in the number of shares


Shares outstanding at the beginning of the period - I EUR 203.190 - R EUR 4,427.813

Shares issued during the period - I EUR 0.000 - R EUR 0.000

Shares redeemed during the period - I EUR 7.782 - R EUR 742.504

Shares outstanding at the end of the period - I EUR 195.408 - R EUR 3,685.309


Shares outstanding at the beginning of the period - I EUR 1,407.488 - P EUR 1.000 - R EUR 947.255

Shares issued during the period - I EUR 29.281 - P EUR 3.000 - R EUR 68.961

Shares redeemed during the period - I EUR 910.959 - P EUR 4.000 - R EUR 166.364

Shares outstanding at the end of the period - I EUR 525.810 - P EUR - - R EUR 849.852

DIAMAN SICAV

Changes in Capital, Total Net Assets and Net Asset Value per Share

20

Changes in Capital, Total N et Assets and Net Asset Value per Share

SUB-FUND VALUATION DATE TOTAL NET ASSETS SHARE CLASS SHARES

OUTSTANDING SHARE PRICE CCY

DIAMAN SICAV Dynamic Income (EUR)

31.12.2017 4,521,969.67 - I EUR 9,522.885 124.71 EUR

- P EUR 545.912 123.99 EUR

- R EUR 28,627.569 114.11 EUR

31.12.2018 1,148,291.73 - I EUR 1,940.108 111.29 EUR

- P EUR 533.912 110.27 EUR

- R EUR 8,640.805 101.09 EUR

31.12.2019 413,591.17 - I EUR 203.190 98.59 EUR

- R EUR 4,427.813 88.88 EUR

30.06.2020 296,978.03 - I EUR 195.408 84.71 EUR

- R EUR 3,685.309 76.09 EUR

DIAMAN SICAV Mathematics (EUR)

31.12.2017 4,648,377.34 - I EUR 1,550.415 850.57 EUR

- P EUR 75.868 837.80 EUR

- R EUR 3,499.038 933.42 EUR

31.12.2018 3,215,524.47 - I EUR 1,543.913 782.14 EUR

- P EUR 41.868 764.48 EUR

- R EUR 2,337.953 845.17 EUR

31.12.2019 2,018,688.48 - I EUR 1,407.488 835.43 EUR

- P EUR 1.000 809.91 EUR

- R EUR 947.255 888.91 EUR

30.06.2020 1,138,667.21 - I EUR 525.810 800.34 EUR

- R EUR 849.852 844.66 EUR

DIAMAN SICAV

Notes to the financial statements as at 30 June 2020

21

Notes to the f inancial statements as at 30 June 2020

NOTE 1 - ACCOUNTING PRINCIPLES The Board of Directors took the decision on 23 March 2020 to put the Fund in liquidation. The Financial Statements of DIAMAN SICAV (the «SICAV») have been prepared on a basis other than that of a going concern and in accordance with legal and regulatory requirements and generally accepted accounting principles in Luxembourg, including the following significant policies relating to UCITS : a) Valuation of investments The Net Asset Value per Share of each class of Shares of the various Sub-Funds is determined on the day specified for each Sub-Fund on the basis of the value of the underlying investments of the relevant Sub-Fund, determined as follows: 1) The value of any cash on hand or on deposit, bills and demand notes payable and accounts receivable, prepaid expenses, cash dividends and interest declared or accrued as aforesaid and not yet received is deemed to be the full amount thereof, unless in any case the same is unlikely to be paid or received in full, in which case the value thereof is arrived at after making such discount as may be considered appropriate in such case to reflect the true value thereof. 2) The value of each security or other asset which is quoted or dealt in on a stock exchange is based on its last available price in Luxembourg on the stock exchange which is normally the principal market for such security. 3) The value of each security or other asset dealt in on any other regulated market that operates regularly, is recognized and is open to the public (a "Regulated Market”) is based on its last available price in Luxembourg. 4) In the event that any assets are not listed nor dealt in on any stock exchange or on any other Regulated Market, or if, with respect to assets listed or dealt in on any stock exchange or on any other Regulated Market as aforesaid, the price as determined pursuant to sub-paragraph 2) or 3) is not representative of the fair market value of the relevant assets, the value of such assets is based on the reasonably foreseeable sales price determined prudently and in good faith by the Board of Directors of the SICAV. 5) Units or shares of undertakings for collective investment are valued at their last determined and available net asset value or, if such price is not representative of the fair market value of such assets, then the price shall be determined by the Board of Directors of the SICAV on a fair and equitable basis. 6) The liquidating value of futures contracts, spot, forward or options contracts not traded on stock exchanges nor on other Regulated Markets shall mean their net liquidating value determined, pursuant to the policies established by the Board of Directors of the SICAV, on a basis consistently applied for each different variety of contracts. The liquidating value of futures contracts, spot, forward or options contracts traded on stock exchanges or on other Regulated Markets shall be based upon the last available settlement prices of these contracts on stock exchanges and Regulated Markets on which the particular futures contracts, spot, forward or options contracts are traded by the SICAV; provided that if a futures contracts, spot, forward or options contract could not be liquidated on the day with respect to which net assets are being determined, the basis for determining the liquidating value of such contract shall be such value as the Board of Directors of the SICAV may deem fair and reasonable. Swaps are valued at their market value.

DIAMAN SICAV


22

All other securities and other assets are valued at fair market value as determined in good faith pursuant to procedures established by the Board of Directors of the SICAV. b) Net realised profit or loss on sale of investments The net realised profit or loss on sales of investments is determined on the basis of the average cost of investments sold. The net realised profit or loss on variation of exchange rates is recorded in the caption “Net realised Profit/ (Loss) on currencies” during the sale transaction. c) Conversion of foreign currencies All assets and liabilities expressed in currencies other than the concerned Sub-Fund’s currency are converted into the Sub-Fund’s currency at the exchange rate prevailing on closing date in Luxembourg. The value of the combined statement of net assets of the SICAV equals the sum of all different Sub-Funds’ net assets converted into EUR at the exchange rate prevailing on closing date in Luxembourg. Income and expenses in currencies other than EUR are converted into EUR at the exchange rates prevailing at the transaction date. d) Acquisition cost of investments The acquisition cost of investments expressed in currencies other than the Sub-Fund’s currency is converted into the Sub-Fund’s currency at the exchange rate prevailing at the purchase date. e) Change in Net Unrealised Appreciation or Depreciation Unrealised appreciation or depreciation on all components of the statement of net assets at the end of the financial year are accounted in the statement of operations and changes in net assets. f) Purchases and sales of investments The details of purchases and sales of investments may be obtained at the registered office of the SICAV, free of charge. g) Income, expenses and accruals Interests on bonds and current accounts are accounted for on a day-to-day basis. Dividends are taken into income on the date upon which the relevant securities are first listed as «ex-dividend» and net of withholding tax. h) Futures Amounts receivable / payable to the broker on futures contracts and guaranty deposits are disclosed in the Statement of Net Assets. Net realised profit or loss on futures contracts and the change in net unrealised appreciation or depreciation on futures contracts are disclosed in the Statement of Operations and Changes in Net Assets.

DIAMAN SICAV


23

i) Forward Foreign Exchanges Contracts Forward exchange contracts are valued on the basis of the latest available closing "forward" rates at 30 June 2020. NOTE 2 - TAXES AND EXPENSES PAYABLE

Management Company fees 2,486.34 EUR

Marketing fees 18,117.94 EUR

Depositary fees 208.48 EUR

Subscription tax 125.35 EUR

Miscellaneous fees 155,922.60 EUR

Total 176,860.71 EUR

NOTE 3 - SUBSCRIPTION AND REDEMPTION FEE Subscription price of any share of any Sub-Fund of DIAMAN SICAV is made up of: - net asset value per share, plus, - a sales charge of maximum 1% of the net asset value per share for the Dynamic Income Sub-Fund and 3% for the Mathematics Sub-Fund, in favor of the sales agents. NOTE 4 - SUBSCRIPTION TAX The SICAV is subject to Luxembourg tax laws. Under current laws and regulations, the SICAV is subject in Luxembourg to the subscription tax (“taxe d’abonnement”) at an annual rate of 0.05%, such tax being payable quarterly and calculated on the basis of the net assets at the end of the relevant quarter. However, this subscription tax is reduced to 0.01% per annum for the net assets attributable to the Class I Institutional Shares, intended for institutional investors. However the portion of assets which are invested in units or shares of UCI shall be exempt from such tax as far as those UCIs are already submitted to this tax in Luxembourg. NOTE 5 - MANAGEMENT COMPANY FEES A management fee is payable to the Management Company in remuneration for its services. Such fee is payable quarterly in arrears and calculated on the average of the net assets of each Sub-Fund as follows: For DIAMAN SICAV Dynamic Income and DIAMAN SICAV Mathematics: - 0.075% per annum on the first EUR 10 million of average net assets. - 0.050% per annum on the average net assets over EUR 10 million with a minimum of EUR 5,000. In addition, in remuneration for its services relating to the currency hedging of Retail CHF shares for DIAMAN SICAV Dynamic Income, DIAMAN SICAV Mathematics, the Management Company is entitled to receive, at the charge of such classes only, an annual fee, payable quarterly in arrears and calculated on the average net assets of such class for the relevant quarter, as follows: - 0.12% per annum.

DIAMAN SICAV


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NOTE 6 - MARKETING FEES A marketing fee is payable to the Management Company in remuneration for its services. Such fee is different for each class of Shares, payable quarterly in areas and calculated on the average of the net assets of each Sub-Fund in the respective class of Shares for the relevant quarter as follows:

Sub-Funds Class of Shares Markeing Fees

DIAMAN SICAV Dynamic Income Class I EUR Shares 0%

Class R EUR Shares Up to 0.30% per annum

Class R CHF Shares Up to 0.70% per annum

DIAMAN SICAV Mathematics Class I EUR Shares 0%

Class P EUR Shares Up to 0.80% per annum



DIAMAN SICAV Target Strategy Class I EUR Shares 0%

Class P EUR Shares Up to 0.60% per annum



NOTE 7 - MISCELLANEOUS FEES The caption “Miscellaneous Fees” includes fees relating to publication, legal matters, stock exchange and ALFI/CSSF information, audit fees. NOTE 8 - TRANSACTIONS FEES Transactions fees on purchases and sales of securities and derivatives are brokerage fees, bank charges, taxes and other costs. NOTE 9 - VALUATION OF COGEME Issuer: Cogeme-Cogeme Set 09-130314 Instrument type: Convertible Bond Internal security identifier: 170601 ISIN code: IT0004447014 Sub-Fund: DIAMAN SICAV - Dynamic Income Weight in NAV : 0% (as at 30 June 2020) The company was put into liquidation (bankruptcy) and the price was suspended. The Board of Directors, in agreement with the management company, has decided to evaluate this obligation at 0 and to reverse the interest still accrued. This was confirmed by circular resolution dated 6 February 2012. At the date of this report, we do not have any updated information.

DIAMAN SICAV


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NOTE 10 - EVENTS DURING THE PERIOD The Board of Directors tried to sell the SICAV to a Management Company based in Malta, but during the finalization of the acquisition process in March 2020, the Covid-19 creates great uncertainty about the future of the financial market and the buyer withdraw its offer. The Board of Directors had no other solution than to propose the liquidation of the SICAV. During the Board of Directors’ meeting held on 23 March 2020, the Board resolved to propose the liquidation of the SICAV to the Extraordinary general meeting of Shareholders. This decision should be approved by the CSSF. Whereas the Extraordinary General Meeting of the SICAV convened at the premises of the notary Mireille Hames on 13 August 2020 at 8.00 am could not validly deliberate as the required quorum was not reached, shareholders are hereby invited to attend a second Extraordinary General Meeting of shareholders of the SICAV (the “Meeting”) which will take place at the premises of the notary Mireille Hames, 7, rue Emile Laux, L-7544 Mersch on 11 September 2020 at 8:00 am to deliberate and vote on the following agenda: validate the liquidation of the SICAV. For the remaining Sub-Funds, unaudited details are as follows :

Sub-Fund Date of calculation

Total net assets Share class Shares outstanding

Share price Ccy


23.03.2020 361,953.61 - I EUR 196.178 94.26 EUR - R EUR 4,048.577 84.84 EUR


23.03.2020 1,593,890.13 - I EUR 1,360.763 693.24 EUR - P EUR 2 670.96 EUR - R EUR 883.401 734.90 EUR


*31.07.2020 209,189.99 - I EUR 195.202 82.83 EUR - R EUR 3,685.309 74.35 EUR


*31.07.2020 1,144,504.40 - I EUR 525.761 805.17 EUR - R EUR 849.852 848.59 EUR

*Last calculation of NAV according to the convening of EGM.

DIAMAN SICAV

Other information as at 30 June 2020

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Other information as at 30 June 2020

SFTR

As at 30 June 2020, the SICAV is in the scope of the requirements of the Regulation (EU) 2015/2365 on transparency of Securities Financing Transactions and of Reuse (“SFTR”). However, no corresponding transactions were carried out during the period referring to the financial statements.

diaman sicav - bper banca · 2020. 9. 17. · diaman sicav statement of operations and changes in...

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