A Mutual Fund ( Fonds Commun de Placement ) governed by the Law of Luxembourg

Transcription

1 EurizonCapital s.a. Soluzioni Eurizon A Mutual Fund ( Fonds Commun de Placement ) governed by the Law of Luxembourg Subscriptions cannot be accepted on the basis of this financial report. Subscriptions are only valid if made on the basis of the current Prospectus, the Key Investor Information Document, accompanied by a copy of the latest annual report or a copy of the subsequent semi-annual report if it has been published. Semi-annual report as at 30 September 2014

2 Soluzioni Eurizon Table of contents Organisation of the Fund 3 Comparative Net Asset Values on the last three years/periods Combined Statement of Net Assets 8 Combined Statement of Changes in Net Assets 9 Soluzioni Eurizon - Cedola Doc Italia 07/ Statement of Net Assets 10 Statement of Changes in Net Assets 11 Portfolio 12 Soluzioni Eurizon - Cedola Doc Italia 09/ Statement of Net Assets 13 Statement of Changes in Net Assets 14 Portfolio 15 Soluzioni Eurizon - Cedola Doc Italia 11/ Statement of Net Assets 16 Statement of Changes in Net Assets 17 Portfolio 18 Swap contracts 19 7 Soluzioni Eurizon - Strategia I 10/ Statement of Net Assets 42 Statement of Changes in Net Assets 43 Portfolio 44 Forward foreign exchange contracts 48 Soluzioni Eurizon - Strategia I 12/ Statement of Net Asset 49 Statement of Changes in Net Assets 50 Portfolio 51 Forward foreign exchange contracts 55 Soluzioni Eurizon - Strategia I 02/ Statement of Net Assets 56 Statement of Changes in Net Assets 57 Portfolio 58 Forward foreign exchange contracts 62 Notes to the financial statements 63 Soluzioni Eurizon - Cedola Doc 05/ Statement of Net Assets 20 Statement of Changes in Net Assets 21 Portfolio 22 Swap contracts 24 Soluzioni Eurizon - Cedola Doc 07/ Statement of Net Assets 25 Statement of Changes in Net Assets 26 Portfolio 27 Swap contracts 29 Soluzioni Eurizon - Cedola Doc 09/ Statement of Net Assets 30 Statement of Changes in Net Assets 31 Portfolio 32 Swap contracts 34 Soluzioni Eurizon - Strategia I 08/ Statement of Net Assets 35 Statement of Changes in Net Assets 36 Portfolio 37 Forward foreign exchange contracts 41 2

3 ORGANISATION OF THE FUND Soluzioni Eurizon MANAGEMENT COMPANY AND PROMOTER Eurizon Capital S.A. 8, avenue de la Liberté L-1930 Luxembourg (Grand Duchy of Luxembourg) R.C.S. Luxembourg B BOARD OF DIRECTORS OF THE MANAGEMENT COMPANY DEPOSITARY BANK AND PAYING AGENT Chairman of the Board of Directors Mr. Tommaso CORCOS Managing Director of Eurizon Capital SGR S.p.A., Milan Resident of Milan (Italy) Vice-Chairman of the Board of Directors Mr. Daniel GROS Independent Director Resident of Brussels (Belgium) Managing Director Mr. Massimo MAZZINI General Manager of Eurizon Capital S.A., Luxembourg Resident of Luxembourg (Grand Duchy of Luxembourg) Director Mr. Massimo TORCHIANA Co-General Manager of Eurizon Capital S.A., Luxembourg Resident of Luxembourg (Grand Duchy of Luxembourg) Director Mr. Carlo NICOLETTI Independent Director Resident of Rüschlikon (Switzerland) (until 1 April 2014) Director Mr. Alex SCHMITT Independent Director, Lawyer, Luxembourg Resident of Luxembourg (Grand Duchy of Luxembourg) Director Mr. Claudio SOZZINI Independent Director Resident of Milan (Italy) (since 16 April 2014) Director Mr. Bruno ALFIERI General Manager and Director of Fideuram Gestions S.A., Luxembourg Resident of Luxembourg (Grand Duchy of Luxembourg) (since 16 April 2014) State Street Bank Luxembourg S.A. 49, avenue J.F. Kennedy L-1855 Luxembourg (Grand Duchy of Luxembourg) 3

4 ORGANISATION OF THE FUND Soluzioni Eurizon LOCAL PAYING AGENTS Italy: State Street Bank S.p.A. 10, via Ferrante Aporti 20125, Milano (Italy) ADMINISTRATIVE AGENT, REGISTRAR AND TRANSFER AGENT INVESTMENT MANAGER State Street Bank Luxembourg S.A. 49, avenue J.F. Kennedy L-1855 Luxembourg (Grand Duchy of Luxembourg) (these functions have been delegated by Eurizon Capital S.A.) Eurizon Capital SGR S.p.A. 3, Piazzetta Giordano Dell Amore I Milan (Italy) (this function has been delegated by Eurizon Capital S.A.) INDEPENDENT AUDITOR OF THE INVESTMENT FUND AND OF THE MANAGEMENT COMPANY KPMG Luxembourg S.à r.l. 9, allée Scheffer L Luxembourg (Grand Duchy of Luxembourg) 4

5 ORGANISATION OF THE FUND Soluzioni Eurizon CONSTITUTION Soluzioni Eurizon (the Fund ) was created under the name of Eurizon Innovation Fund in the Grand Duchy of Luxembourg on 3 June 2008, in the form of a mutual investment fund in transferable securities governed by the Laws of Luxembourg, and is currently subject to by Part I of the Law of 17 December 2010 on Undertakings for Collective Investment ( UCI ). The Management Company has decided to modify the Fund s name from Eurizon Innovation Fund to Soluzioni Eurizon with effective date 7 March The management regulations (the Management Regulations ), after having been approved by the Board of Directors of the management company Eurizon Capital S.A. (the Management Company ), have been initially signed by Sanpaolo Bank S.A., the Custodian Bank at that date, on 7 June 2008 and the notification of the filing with the Registre de Commerce et des Sociétés in Luxembourg of the latest modifications to the Management Regulations was published in the Mémorial, Recueil des Sociétés et Associations in the Grand Duchy of Luxembourg on 26 March 2012, on 8 June 2012, on 3 February 2014 and on 4 July The Management Regulations in force have been filed with the Registre de Commerce et des Sociétés in Luxembourg, where they may be consulted, and where copies can be obtained. The Fund has been established for an indefinite period. The Fund is an umbrella fund. The active Sub-Funds as of 30 September 2014 are listed below: Soluzioni Eurizon - Cedola Doc Italia - 07/2015 (launched on 6 June 2012) Soluzioni Eurizon - Cedola Doc Italia - 09/2015 (launched on 30 July 2012) Soluzioni Eurizon - Cedola Doc Italia - 11/2017 (launched on 28 September 2012) Soluzioni Eurizon - Cedola Doc - 05/2017 (launched on 28 March 2012) Soluzioni Eurizon - Cedola Doc - 07/2017 (launched on 6 June 2012) Soluzioni Eurizon - Cedola Doc - 09/2017 (launched on 30 July 2012) Soluzioni Eurizon - Strategia I - 08/2019 (launched on 28 May 2012) Soluzioni Eurizon - Strategia I - 10/2019 (launched on 4 September 2012) Soluzioni Eurizon - Strategia I - 12/2019 (launched on 6 November 2012) Soluzioni Eurizon - Strategia I - 02/2020 (launched on 18 December 2012). The different Units which are available to investors for the Sub-Funds are detailed in note 10 Units of the Fund of the notes to the financial statements. GENERAL MEETING The Annual General Meeting of the Shareholders of the Management Company is held in Luxembourg, at its registered office, on the last Tuesday of March at 3 p.m. and, if such day is not a business day in the Grand Duchy of Luxembourg, the next business day. INFORMATION FOR FUND UNITHOLDERS Copies of audited annual reports as at 31 March and copies of unaudited semi-annual reports as at 30 September are available free of charge to Unitholders at the Depositary Bank, other establishments specified by the latter, and at the registered office of the Management Company. The periodic reports contain all information relative to the Fund, to the composition and development of its assets. The financial year begins on 1 April and ends on 31 March. The Net Asset Value as well as the subscription and redemption prices of the Fund Units can also be obtained from the Depositary Bank. Other information intended for participants is published in the Mémorial, Recueil des Sociétés et Associations and in the Registre de Commerce et des Sociétés in Luxembourg, if this publication is specified by the Management Regulations or by law. 5

6 ORGANISATION OF THE FUND Soluzioni Eurizon GLOBAL EXPOSURE The method used to calculate the global exposure for all the Sub-Funds is the commitment approach. 6

7 Soluzioni Eurizon COMPARATIVE NET ASSET VALUES OVER THE LAST THREE YEARS / PERIODS 30 September March March 2013 Currency Total NAV per Unit Total NAV per Unit Total NAV per Unit Soluzioni Eurizon - Cedola Doc Italia - 07/2015 Class RD Units EUR ,78 105, ,78 108, ,55 106,63 Total net assets EUR , , ,55 Soluzioni Eurizon - Cedola Doc Italia - 09/2015 Class RD Units EUR ,27 108, ,21 108, ,71 106,38 Total net assets EUR , , ,71 Soluzioni Eurizon - Cedola Doc Italia - 11/2017 Class RD Units EUR ,46 113, ,10 109, ,95 103,28 Total net assets EUR , , ,95 Soluzioni Eurizon - Cedola Doc - 05/2017 Class RD Units EUR ,91 110, ,02 110, ,96 107,56 Total net assets EUR , , ,96 Soluzioni Eurizon - Cedola Doc - 07/2017 Class RD Units EUR ,00 110, ,87 110, ,10 107,71 Total net assets EUR , , ,10 Soluzioni Eurizon - Cedola Doc - 09/2017 Class RD Units EUR ,64 110, ,41 107, ,74 103,77 Total net assets EUR , , ,74 Soluzioni Eurizon - Strategia I - 08/2019 Class R Units EUR ,25 121, ,44 119, ,19 109,20 Total net assets EUR , , ,19 Soluzioni Eurizon - Strategia I - 10/2019 Class R Units EUR ,30 119, ,72 117, ,83 107,72 Total net assets EUR , , ,83 Soluzioni Eurizon - Strategia I - 12/2019 Class R Units EUR ,33 117, ,34 115, ,90 105,62 Total net assets EUR , , ,90 Soluzioni Eurizon - Strategia I - 02/2020 Class R Units EUR ,72 113, ,65 111, ,18 101,75 Total net assets EUR , , ,18 7

8 Soluzioni Eurizon COMBINED STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2014 IN EUR Assets Notes Investments in securities (Note 2) ,64 Banks ,59 Unrealised profit on forward foreign exchange contracts (Note 9) ,27 Unrealised profit on swap contracts (Note 9) ,64 Interest receivable on swap contracts (Note 9) 8 997,15 Other interest receivable ,32 Receivable on investments sold ,36 Other assets (Note 7) ,83 Total assets ,80 Liabilities Bank overdrafts (1 166,71) Swap premium received (Note 9) ( ,74) Unrealised loss on forward foreign exchange contracts (Note 9) ( ,30) Payable on redemptions ( ,71) Other liabilities ( ,68) Total liabilities ( ,14) Total net assets ,66 8

9 Soluzioni Eurizon COMBINED STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 IN EUR Net assets at the beginning of the period Notes ,54 Net income from investments (Note 2) ,36 Interest on bank accounts 8 959,89 Interest received on swap contracts ,76 Other income (Note 10) ,45 Total income ,46 Management fee (Note 5) ( ,07) Depositary fee (Note 8) ( ,23) Subscription tax (Note 3) ( ,50) Interest on bank accounts (774,00) Other charges and taxes (Notes 4, 7,8) ( ,11) Total expenses ( ,91) Net investment income / (loss) ,55 Net realised profit / (loss) on sales of investments, currencies and other financial instruments ,42 Change in unrealised appreciation / (depreciation) on - investments (Note 2) ( ,42) - forward foreign exchange contracts (Note 9) ( ,04) - foreign currencies ,19 - swap contracts (Note 9) ( ,99) Net result of operations for the period ,71 Redemptions for the period ( ,13) Dividend distributions (Note 11) ( ,46) Net assets at the end of the period ,66 9

10 Soluzioni Eurizon - Cedola Doc Italia - 07/2015 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2014 IN EUR Assets Notes Investments in securities (Note 2) ,37 Banks ,24 Other interest receivable ,19 Receivable on investments sold ,00 Other assets (Note 7) ,09 Total assets ,89 Liabilities Payable on redemptions ( ,23) Other liabilities ( ,88) Total liabilities ( ,11) Total net assets ,78 Currency Net Asset Value per Unit Units outstanding Class RD Units EUR 105, ,286 10

11 Soluzioni Eurizon - Cedola Doc Italia - 07/2015 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 IN EUR Net assets at the beginning of the period Notes ,78 Net income from investments (Note 2) ,59 Interest on bank accounts 1 187,74 Other income (Note 10) ,20 Total income ,53 Management fee (Note 5) ( ,16) Depositary fee (Note 8) (41 529,21) Subscription tax (Note 3) (36 636,24) Other charges and taxes (Notes 4, 7,8) ( ,16) Total expenses ( ,77) Net investment income / (loss) ,76 Net realised profit / (loss) on sales of investments, currencies and other financial instruments ,86 Change in unrealised appreciation / (depreciation) on - investments (Note 2) ( ,12) Net result of operations for the period ,50 Redemptions for the period ( ,13) Dividend distributions (Note 11) ( ,37) Net assets at the end of the period ,78 11

12 Soluzioni Eurizon - Cedola Doc Italia - 07/2015 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets PORTFOLIO , ,37 98,60 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING , ,37 98,60 Ordinary Bonds , ,37 91,88 ITALY , ,37 90,36 Government , ,37 86, ,00 BTP 3.75% 01/08/2015 EUR , ,00 27, ,00 BTP 3.00% 01/11/2015 EUR , ,00 26, ,00 BTP 3.75% 15/04/2016 EUR , ,00 21, ,39 BTP 2.45% 26/03/2016 EUR , ,37 8, ,00 BTP 4.50% 15/07/2015 EUR , ,00 3, ,00 BTP 2.75% 01/12/2015 EUR , ,00 0,30 Finance , ,00 3, ,00 INTESA SANPAOLO SPA 4.125% 14/01/2016 EUR , ,00 2, ,00 BANCO POPOLARE SC 3.75% 28/01/2016 EUR , ,00 1, ,00 INTESA SANPAOLO SPA 4.875% 10/07/2015 EUR , ,00 0,39 LUXEMBOURG , ,00 1,52 Finance , ,00 1, ,00 FIAT FINANCE & TRADE SA 6.875% 13/02/2015 EUR , ,00 1,52 Floating rate notes , ,00 6,72 ITALY , ,00 6,72 Government , ,00 4, ,00 CCT FRN 15/12/2015 EUR , ,00 3, ,00 CCT FRN 01/09/2015 EUR , ,00 0,37 Finance , ,00 2, ,00 UNICREDIT SPA FRN 18/02/2015 EUR , ,00 2,60 Total Portfolio , ,37 98,60 12

13 Soluzioni Eurizon - Cedola Doc Italia - 09/2015 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2014 IN EUR Assets Notes Investments in securities (Note 2) ,62 Banks ,60 Other interest receivable ,19 Receivable on investments sold ,40 Other assets (Note 7) ,81 Total assets ,62 Liabilities Payable on redemptions ( ,81) Other liabilities ( ,54) Total liabilities ( ,35) Total net assets ,27 Currency Net Asset Value per Unit Units outstanding Class RD Units EUR 108, ,353 13

14 Soluzioni Eurizon - Cedola Doc Italia - 09/2015 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 IN EUR Net assets at the beginning of the period Notes ,21 Net income from investments (Note 2) ,40 Interest on bank accounts 1 200,61 Other income (Note 10) ,03 Total income ,04 Management fee (Note 5) ( ,43) Depositary fee (Note 8) (35 523,60) Subscription tax (Note 3) (31 552,11) Other charges and taxes (Notes 4, 7,8) ( ,67) Total expenses ( ,81) Net investment income / (loss) ,23 Net realised profit / (loss) on sales of investments, currencies and other financial instruments ,08 Change in unrealised appreciation / (depreciation) on - investments (Note 2) ( ,00) Net result of operations for the period ,31 Redemptions for the period ( ,25) Net assets at the end of the period ,27 14

15 Soluzioni Eurizon - Cedola Doc Italia - 09/2015 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets PORTFOLIO , ,62 98,42 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING , ,62 98,42 Ordinary Bonds , ,62 94,13 ITALY , ,62 92,39 Government , ,62 85, ,00 BTP 2.75% 01/12/2015 EUR , ,00 26, ,00 BTP 3.00% 01/11/2015 EUR , ,00 24, ,00 BTP 3.75% 15/04/2016 EUR , ,00 20, ,00 BTP 2.45% 26/03/2016 EUR , ,62 9, ,99 BTP 2.10% 15/09/2016 EUR , ,34 1, ,00 BTP 3.55% 11/06/2016 EUR , ,66 1, ,00 BTP 3.75% 01/08/2015 EUR , ,00 0, ,00 BTP 3.00% 15/06/2015 EUR , ,00 0,43 Finance , ,00 6, ,00 UNICREDIT SPA 4.375% 11/09/2015 EUR , ,00 2, ,00 INTESA SANPAOLO SPA 4.125% 14/01/2016 EUR , ,00 1, ,00 BANCO POPOLARE SC 3.75% 28/01/2016 EUR , ,00 1, ,00 INTESA SANPAOLO SPA 4.875% 10/07/2015 EUR , ,00 0,88 Telecommunication , ,00 0, ,00 TELECOM ITALIA SPA 4.625% 15/06/2015 EUR , ,00 0,87 LUXEMBOURG , ,00 1,74 Finance , ,00 1, ,00 FIAT FINANCE & TRADE SA 6.875% 13/02/2015 EUR , ,00 1,74 Floating rate notes , ,00 4,29 ITALY , ,00 4,29 Government , ,00 4, ,00 CCT FRN 15/12/2015 EUR , ,00 4,29 Total Portfolio , ,62 98,42 15

16 Soluzioni Eurizon - Cedola Doc Italia - 11/2017 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2014 IN EUR Assets Notes Investments in securities (Note 2) ,63 Banks ,37 Unrealised profit on swap contracts (Note 9) ,45 Interest receivable on swap contracts (Note 9) 2 138,89 Other interest receivable ,23 Receivable on investments sold ,20 Other assets (Note 7) ,92 Total assets ,69 Liabilities Swap premium received (Note 9) ( ,09) Payable on redemptions ( ,38) Other liabilities ( ,76) Total liabilities ( ,23) Total net assets ,46 Currency Net Asset Value per Unit Units outstanding Class RD Units EUR 113, ,589 16

17 Soluzioni Eurizon - Cedola Doc Italia - 11/2017 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 IN EUR Net assets at the beginning of the period Notes ,10 Net income from investments (Note 2) ,01 Interest on bank accounts 1 450,26 Interest received on swap contracts ,23 Other income (Note 10) ,47 Total income ,97 Management fee (Note 5) ( ,23) Depositary fee (Note 8) (67 296,87) Subscription tax (Note 3) (58 133,14) Interest on bank accounts (21,35) Other charges and taxes (Notes 4, 7,8) ( ,48) Total expenses ( ,07) Net investment income / (loss) ,90 Net realised profit / (loss) on sales of investments, currencies and other financial instruments ,47 Change in unrealised appreciation / (depreciation) on - investments (Note 2) ( ,22) - swap contracts (Note 9) (45 505,31) Net result of operations for the period ,84 Redemptions for the period ( ,48) Net assets at the end of the period ,46 17

18 Soluzioni Eurizon - Cedola Doc Italia - 11/2017 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets PORTFOLIO , ,63 98,34 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING , ,63 98,34 Ordinary Bonds , ,63 98,34 ITALY , ,63 98,34 Government , ,63 93, ,00 BTP 2.15% 12/11/2017 EUR , ,51 27, ,00 BTP 4.50% 01/02/2018 EUR , ,00 27, ,00 BTP 4.50% 01/08/2018 EUR , ,00 27, ,00 BTP 3.50% 01/06/2018 EUR , ,00 7, ,02 BTP 2.10% 15/09/2017 EUR , ,12 2, ,00 BTP 3.50% 01/11/2017 EUR , ,00 0, ,00 BTP 5.25% 01/08/2017 EUR , ,00 0, ,00 BTP 4.75% 01/06/2017 EUR , ,00 0,26 Finance , ,00 4, ,00 UNICREDIT SPA 3.375% 11/01/2018 EUR , ,00 2, ,00 INTESA SANPAOLO SPA 4.00% 09/11/2017 EUR , ,00 2,32 Total Portfolio , ,63 98,34 18

19 Soluzioni Eurizon - Cedola Doc Italia - 11/2017 SWAP CONTRACTS AS AT 30 SEPTEMBER 2014 Underlying name Currency Position Notional Counterparty Maturity Interest receivable/ (payable) (EUR) Unrealised profit / (loss) (EUR) CREDIT DEFAULT SWAP CONTRACTS 2 138, ,45 TELECOM ITALIA SPA EUR S ,00 JPMORGAN CHASE BANK 20/12/ , ,45 19

20 Soluzioni Eurizon - Cedola Doc - 05/2017 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2014 IN EUR Assets Notes Investments in securities (Note 2) ,50 Banks ,21 Unrealised profit on swap contracts (Note 9) ,13 Interest receivable on swap contracts (Note 9) 2 902,78 Other interest receivable ,56 Receivable on investments sold ,77 Other assets (Note 7) ,72 Total assets ,67 Liabilities Swap premium received (Note 9) ( ,00) Payable on redemptions ( ,04) Other liabilities ( ,72) Total liabilities ( ,76) Total net assets ,91 Currency Net Asset Value per Unit Units outstanding Class RD Units EUR 110, ,747 20

21 Soluzioni Eurizon - Cedola Doc - 05/2017 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 IN EUR Net assets at the beginning of the period Notes ,02 Net income from investments (Note 2) ,51 Interest on bank accounts 713,23 Interest received on swap contracts ,68 Other income (Note 10) ,60 Total income ,02 Management fee (Note 5) ( ,91) Depositary fee (Note 8) (40 548,75) Subscription tax (Note 3) (35 732,86) Other charges and taxes (Notes 4, 7,8) ( ,45) Total expenses ( ,97) Net investment income / (loss) ,05 Net realised profit / (loss) on sales of investments, currencies and other financial instruments ,19 Change in unrealised appreciation / (depreciation) on - investments (Note 2) ( ,93) - swap contracts (Note 9) ( ,58) Net result of operations for the period ,73 Redemptions for the period ( ,22) Dividend distributions (Note 11) ( ,62) Net assets at the end of the period ,91 21

22 Soluzioni Eurizon - Cedola Doc - 05/2017 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets PORTFOLIO , ,50 97,86 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING , ,50 97,86 Ordinary Bonds , ,50 97,86 ITALY , ,00 28,89 Government , ,00 15, ,00 BTP 4.75% 01/05/2017 EUR , ,00 11, ,00 BTP 4.50% 01/02/2018 EUR , ,00 3,51 Finance , ,00 10, ,00 UNICREDIT SPA 4.875% 07/03/2017 EUR , ,00 4, ,00 INTESA SANPAOLO SPA 5.00% 28/02/2017 EUR , ,00 2, ,00 INTESA SANPAOLO SPA 4.75% 15/06/2017 EUR , ,00 1, ,00 UNIONE DI BANCHE ITALIANE SCPA 2.75% 28/04/2017 EUR , ,00 1,64 Telecommunication , ,00 3, ,00 TELECOM ITALIA SPA 7.00% 20/01/2017 EUR , ,00 1, ,00 TELECOM ITALIA SPA 4.50% 20/09/2017 EUR , ,00 1,60 FRANCE , ,00 16,90 Industries , ,00 7, ,00 ALSTOM SA 4.125% 01/02/2017 EUR , ,00 4, ,00 SOCIETE DES AUTOROUTES PARIS-RHIN-RHONE 5.00% 12/01/2017 EUR , ,00 2,86 Finance , ,00 4, ,00 RCI BANQUE SA 4.25% 27/04/2017 EUR , ,00 4,46 Consumer Retail , ,00 4, ,00 PERNOD-RICARD SA 5.00% 15/03/2017 EUR , ,00 3, ,00 ACCOR SA 2.875% 19/06/2017 EUR , ,00 0,79 Telecommunication , ,00 1, ,00 VIVENDI SA 4.125% 18/07/2017 EUR , ,00 1,23 SPAIN , ,00 16,09 Finance , ,00 8, ,00 SANTANDER INTERNATIONAL DEBT SAU 4.00% EUR , ,00 4,36 27/03/ ,00 BBVA SENIOR FINANCE SAU 3.75% 17/01/2018 EUR , ,00 2, ,00 CAIXABANK SA 2.50% 18/04/2017 EUR , ,00 1,87 Telecommunication , ,00 4, ,00 TELEFONICA EMISIONES SAU 4.75% 07/02/2017 EUR , ,00 4,48 Multi-Utilities , ,00 3, ,00 GAS NATURAL CAPITAL MARKETS SA 5.625% EUR , ,00 2,83 09/02/ ,00 IBERDROLA FINANZAS SAU 4.625% 07/04/2017 EUR , ,00 0,25 UNITED STATES , ,50 12,46 Finance , ,50 12, ,00 BANK OF AMERICA CORP 4.75% 03/04/2017 EUR , ,00 4, ,00 GOLDMAN SACHS GROUP INC 4.375% 16/03/2017 EUR , ,00 4, ,00 MORGAN STANLEY 3.75% 21/09/2017 EUR , ,50 4,11 NETHERLANDS , ,00 7,71 Basic Goods , ,00 4, ,00 METRO FINANCE BV 4.25% 22/02/2017 EUR , ,00 4,44 Telecommunication , ,00 2, ,00 KONINKLIJKE KPN NV 4.75% 17/01/2017 EUR , ,00 2,45 Finance , ,00 0, ,00 ABN AMRO BANK NV 3.625% 06/10/2017 EUR , ,00 0,82 22

23 Soluzioni Eurizon - Cedola Doc - 05/2017 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets LUXEMBOURG , ,00 7,11 Supranational , ,00 5, ,00 EFSF 1.625% 15/09/2017 EUR , ,00 5,46 Consumer Retail , ,00 1, ,00 GLENCORE FINANCE EUROPE SA 5.25% 22/03/2017 EUR , ,00 1,65 GREAT-BRITAIN , ,00 5,43 Telecommunication , ,00 3, ,00 EVERYTHING EVERYWHERE FINANCE PLC 3.50% EUR , ,00 3,96 06/02/2017 Finance , ,00 1, ,00 ROYAL BANK OF SCOTLAND PLC 4.875% EUR , ,00 1,47 20/01/2017 SWEDEN , ,00 1,66 Consumer Retail , ,00 1, ,00 VOLVO TREASURY AB 5.00% 31/05/2017 EUR , ,00 1,66 DENMARK , ,00 1,61 Basic Goods , ,00 1, ,00 CARLSBERG BREWERIES A/S 3.375% 13/10/2017 EUR , ,00 1,61 Total Portfolio , ,50 97,86 23

24 Soluzioni Eurizon - Cedola Doc - 05/2017 SWAP CONTRACTS AS AT 30 SEPTEMBER 2014 Underlying name Currency Position Notional Counterparty Maturity Interest receivable/ (payable) (EUR) Unrealised profit / (loss) (EUR) CREDIT DEFAULT SWAP CONTRACTS 2 902, ,13 BARCLAYS BANK PLC EUR S ,00 JPMORGAN CHASE BANK 20/06/ , ,12 SOCIETE GENERALE SA EUR S ,00 BNP PARIBAS, LONDON 20/06/ , ,01 24

25 Soluzioni Eurizon - Cedola Doc - 07/2017 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2014 IN EUR Assets Notes Investments in securities (Note 2) ,00 Banks ,76 Unrealised profit on swap contracts (Note 9) ,40 Interest receivable on swap contracts (Note 9) 2 750,00 Other interest receivable ,86 Receivable on investments sold ,38 Other assets (Note 7) ,31 Total assets ,71 Liabilities Swap premium received (Note 9) ( ,75) Payable on redemptions ( ,97) Other liabilities ( ,99) Total liabilities ( ,71) Total net assets ,00 Currency Net Asset Value per Unit Units outstanding Class RD Units EUR 110, ,046 25

26 Soluzioni Eurizon - Cedola Doc - 07/2017 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 IN EUR Net assets at the beginning of the period Notes ,87 Net income from investments (Note 2) ,73 Interest on bank accounts 362,24 Interest received on swap contracts ,01 Other income (Note 10) ,43 Total income ,41 Management fee (Note 5) ( ,04) Depositary fee (Note 8) (19 353,62) Subscription tax (Note 3) (17 057,94) Other charges and taxes (Notes 4, 7,8) ( ,74) Total expenses ( ,34) Net investment income / (loss) ,07 Net realised profit / (loss) on sales of investments, currencies and other financial instruments ,15 Change in unrealised appreciation / (depreciation) on - investments (Note 2) ( ,60) - swap contracts (Note 9) ( ,37) Net result of operations for the period ,25 Redemptions for the period ( ,65) Dividend distributions (Note 11) ( ,47) Net assets at the end of the period ,00 26

27 Soluzioni Eurizon - Cedola Doc - 07/2017 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets PORTFOLIO , ,00 96,71 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING , ,00 96,71 Ordinary Bonds , ,00 96,71 ITALY , ,00 29,03 Government , ,00 15, ,00 BTP 5.25% 01/08/2017 EUR , ,00 15,45 Finance , ,00 10, ,00 UNICREDIT SPA 4.875% 07/03/2017 EUR , ,00 4, ,00 INTESA SANPAOLO SPA 5.00% 28/02/2017 EUR , ,00 2, ,00 UNIONE DI BANCHE ITALIANE SCPA 2.75% EUR , ,00 1,65 28/04/ ,00 INTESA SANPAOLO SPA 4.75% 15/06/2017 EUR , ,00 1,56 Telecommunication , ,00 3, ,00 TELECOM ITALIA SPA 7.00% 20/01/2017 EUR , ,00 1, ,00 TELECOM ITALIA SPA 4.50% 20/09/2017 EUR , ,00 1,69 FRANCE , ,00 18,29 Industries , ,00 6, ,00 ALSTOM SA 4.125% 01/02/2017 EUR , ,00 4, ,00 SOCIETE DES AUTOROUTES PARIS-RHIN-RHONE 5.00% 12/01/2017 EUR , ,00 2,24 Consumer Retail , ,00 5, ,00 PERNOD-RICARD SA 5.00% 15/03/2017 EUR , ,00 3, ,00 ACCOR SA 2.875% 19/06/2017 EUR , ,00 2,50 Finance , ,00 4, ,00 RCI BANQUE SA 4.25% 27/04/2017 EUR , ,00 4,27 Telecommunication , ,00 1, ,00 VIVENDI SA 4.125% 18/07/2017 EUR , ,00 1,73 SPAIN , ,00 14,73 Finance , ,00 8, ,00 SANTANDER INTERNATIONAL DEBT SAU 4.00% EUR , ,00 4,26 27/03/ ,00 BBVA SENIOR FINANCE SAU 3.75% 17/01/2018 EUR , ,00 2, ,00 CAIXABANK SA 2.50% 18/04/2017 EUR , ,00 1,97 Telecommunication , ,00 3, ,00 TELEFONICA EMISIONES SAU 4.75% 07/02/2017 EUR , ,00 3,44 Multi-Utilities , ,00 2, ,00 GAS NATURAL CAPITAL MARKETS SA 5.625% EUR , ,00 2,63 09/02/ ,00 IBERDROLA FINANZAS SAU 4.625% 07/04/2017 EUR , ,00 0,35 UNITED STATES , ,00 12,02 Finance , ,00 12, ,00 GOLDMAN SACHS GROUP INC 4.375% 16/03/2017 EUR , ,00 3, ,00 MORGAN STANLEY 5.50% 02/10/2017 EUR , ,00 2, ,00 BANK OF AMERICA CORP 4.75% 03/04/2017 EUR , ,00 2, ,00 BANK OF AMERICA CORP 4.625% 07/08/2017 EUR , ,00 1, ,00 MORGAN STANLEY 3.75% 21/09/2017 EUR , ,00 1,72 NETHERLANDS , ,00 7,72 Basic Goods , ,00 3, ,00 METRO FINANCE BV 4.25% 22/02/2017 EUR , ,00 3,41 Telecommunication , ,00 2, ,00 KONINKLIJKE KPN NV 4.75% 17/01/2017 EUR , ,00 2,58 27

28 Soluzioni Eurizon - Cedola Doc - 07/2017 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets Finance , ,00 1, ,00 ABN AMRO BANK NV 3.625% 06/10/2017 EUR , ,00 1,20 Multi-Utilities , ,00 0, ,00 IBERDROLA INTERNATIONAL BV 4.50% 21/09/2017 EUR , ,00 0,53 LUXEMBOURG , ,00 6,68 Supranational , ,00 4, ,00 EFSF 1.625% 15/09/2017 EUR , ,00 4,94 Consumer Retail , ,00 1, ,00 GLENCORE FINANCE EUROPE SA 5.25% 22/03/2017 EUR , ,00 1,74 GREAT-BRITAIN , ,00 5,39 Telecommunication , ,00 4, ,00 EVERYTHING EVERYWHERE FINANCE PLC 3.50% EUR , ,00 4,01 06/02/2017 Finance , ,00 1, ,00 ROYAL BANK OF SCOTLAND PLC 4.875% 20/01/2017 EUR , ,00 1,38 DENMARK , ,00 1,70 Basic Goods , ,00 1, ,00 CARLSBERG BREWERIES A/S 3.375% 13/10/2017 EUR , ,00 1,70 CAYMAN ISLANDS , ,00 1,15 Multi-Utilities , ,00 1, ,00 HUTCHISON WHAMPOA EUROPE FINANCE 12 LTD EUR , ,00 1, % 06/06/2017 Total Portfolio , ,00 96,71 28

29 Soluzioni Eurizon - Cedola Doc - 07/2017 SWAP CONTRACTS AS AT 30 SEPTEMBER 2014 Underlying name Currency Position Notional Counterparty Maturity Interest receivable/ (payable) (EUR) Unrealised profit / (loss) (EUR) CREDIT DEFAULT SWAP CONTRACTS 2 750, ,40 BARCLAYS BANK PLC EUR S ,00 JPMORGAN CHASE BANK 20/09/ , ,88 SOCIETE GENERALE SA EUR S ,00 JPMORGAN CHASE BANK 20/09/ , ,42 ING BANK NV EUR S ,00 JPMORGAN CHASE BANK 20/09/ , ,10 29

30 Soluzioni Eurizon - Cedola Doc - 09/2017 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2014 IN EUR Assets Notes Investments in securities (Note 2) ,50 Banks ,49 Unrealised profit on swap contracts (Note 9) ,66 Interest receivable on swap contracts (Note 9) 1 205,48 Other interest receivable ,29 Receivable on investments sold ,61 Other assets (Note 7) ,87 Total assets ,90 Liabilities Swap premium received (Note 9) ( ,90) Payable on redemptions ( ,28) Other liabilities ( ,08) Total liabilities ( ,26) Total net assets ,64 Currency Net Asset Value per Unit Units outstanding Class RD Units EUR 110, ,412 30

31 Soluzioni Eurizon - Cedola Doc - 09/2017 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 IN EUR Net assets at the beginning of the period Notes ,41 Net income from investments (Note 2) ,00 Interest on bank accounts 158,58 Interest received on swap contracts ,84 Other income (Note 10) ,58 Total income ,00 Management fee (Note 5) ( ,79) Depositary fee (Note 8) (16 055,04) Subscription tax (Note 3) (14 168,41) Other charges and taxes (Notes 4, 7,8) ( ,04) Total expenses ( ,28) Net investment income / (loss) ,72 Net realised profit / (loss) on sales of investments, currencies and other financial instruments ,66 Change in unrealised appreciation / (depreciation) on - investments (Note 2) ( ,51) - swap contracts (Note 9) ( ,73) Net result of operations for the period ,14 Redemptions for the period ( ,91) Net assets at the end of the period ,64 31

32 Soluzioni Eurizon - Cedola Doc - 09/2017 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets PORTFOLIO , ,50 96,93 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING , ,50 96,93 Ordinary Bonds , ,50 96,93 ITALY , ,50 29,21 Government , ,00 15, ,00 BTP 4.50% 01/02/2018 EUR , ,00 15, ,00 BTP 3.50% 01/11/2017 EUR , ,00 0,83 Finance , ,50 10, ,00 UNICREDIT SPA 4.875% 07/03/2017 EUR , ,00 3, ,00 INTESA SANPAOLO SPA 4.75% 15/06/2017 EUR , ,00 2, ,00 INTESA SANPAOLO SPA 4.00% 09/11/2017 EUR , ,00 2, ,00 UNIONE DI BANCHE ITALIANE SCPA 2.75% EUR , ,00 1,41 28/04/ ,00 UNICREDIT SPA 3.375% 11/01/2018 EUR , ,50 0,93 Telecommunication , ,00 3, ,00 TELECOM ITALIA SPA 4.50% 20/09/2017 EUR , ,00 2, ,00 TELECOM ITALIA SPA 7.00% 20/01/2017 EUR , ,00 0,43 FRANCE , ,00 17,19 Industries , ,00 5, ,00 ALSTOM SA 4.125% 01/02/2017 EUR , ,00 2, ,00 ALSTOM SA 2.25% 11/10/2017 EUR , ,00 2, ,00 SOCIETE DES AUTOROUTES PARIS-RHIN-RHONE 5.00% 12/01/2017 EUR , ,00 1,68 Consumer Retail , ,00 5, ,00 PERNOD-RICARD SA 5.00% 15/03/2017 EUR , ,00 2, ,00 ACCOR SA 2.875% 19/06/2017 EUR , ,00 2,43 Finance , ,00 4, ,00 RCI BANQUE SA 4.25% 27/04/2017 EUR , ,00 4,16 Telecommunication , ,00 1, ,00 VIVENDI SA 4.125% 18/07/2017 EUR , ,00 1,68 SPAIN , ,00 15,79 Finance , ,00 7, ,00 SANTANDER INTERNATIONAL DEBT SAU 4.125% EUR , ,00 3,38 04/10/ ,00 BBVA SENIOR FINANCE SAU 3.75% 17/01/2018 EUR , ,00 2, ,00 SANTANDER INTERNATIONAL DEBT SAU 4.00% EUR , ,00 0,83 27/03/ ,00 CAIXABANK SA 2.50% 18/04/2017 EUR , ,00 0,80 Multi-Utilities , ,00 4, ,00 RED ELECTRICA FINANCIACIONES SA UNIPERSONAL EUR , ,00 2, % 16/02/ ,00 GAS NATURAL CAPITAL MARKETS SA 5.625% EUR , ,00 2,14 09/02/ ,00 IBERDROLA FINANZAS SAU 4.625% 07/04/2017 EUR , ,00 0,21 Telecommunication , ,00 3, ,00 TELEFONICA EMISIONES SAU 3.661% 18/09/2017 EUR , ,00 3,73 UNITED STATES , ,00 13,44 Finance , ,00 13, ,00 MORGAN STANLEY 2.25% 12/03/2018 EUR , ,00 4, ,00 BANK OF AMERICA CORP 4.625% 07/08/2017 EUR , ,00 4, ,00 GOLDMAN SACHS GROUP INC 4.375% 16/03/2017 EUR , ,00 3, ,00 CITIGROUP INC 1.75% 29/01/2018 EUR , ,00 0,99 32

33 Soluzioni Eurizon - Cedola Doc - 09/2017 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets NETHERLANDS , ,00 6,90 Finance , ,00 3, ,00 DELTA LLOYD NV 4.25% 17/11/2017 EUR , ,00 2, ,00 ABN AMRO BANK NV 3.625% 06/10/2017 EUR , ,00 0,62 Basic Goods , ,00 2, ,00 METRO FINANCE BV 4.25% 22/02/2017 EUR , ,00 2,49 Telecommunication , ,00 1, ,00 KONINKLIJKE KPN NV 4.75% 17/01/2017 EUR , ,00 1,26 GREAT-BRITAIN , ,00 5,43 Telecommunication , ,00 3, ,00 EVERYTHING EVERYWHERE FINANCE PLC 3.50% EUR , ,00 3,96 06/02/2017 Finance , ,00 1, ,00 ROYAL BANK OF SCOTLAND PLC 4.875% 20/01/2017 EUR , ,00 1,47 LUXEMBOURG , ,00 5,06 Supranational , ,00 4, ,00 EFSF 1.625% 15/09/2017 EUR , ,00 4,00 Consumer Retail , ,00 1, ,00 GLENCORE FINANCE EUROPE SA 5.25% 22/03/2017 EUR , ,00 1,06 CAYMAN ISLANDS , ,00 2,01 Multi-Utilities , ,00 2, ,00 HUTCHISON WHAMPOA EUROPE FINANCE 12 LTD EUR , ,00 2, % 06/06/2017 SWEDEN , ,00 1,07 Consumer Retail , ,00 1, ,00 VOLVO TREASURY AB 5.00% 31/05/2017 EUR , ,00 1,07 DENMARK , ,00 0,83 Basic Goods , ,00 0, ,00 CARLSBERG BREWERIES A/S 3.375% 13/10/2017 EUR , ,00 0,83 Total Portfolio , ,50 96,93 33

34 Soluzioni Eurizon - Cedola Doc - 09/2017 SWAP CONTRACTS AS AT 30 SEPTEMBER 2014 Underlying name Currency Position Notional Counterparty Maturity Interest receivable/ (payable) (EUR) Unrealised profit / (loss) (EUR) CREDIT DEFAULT SWAP CONTRACTS 1 205, ,66 ITRAXX SENIOR FINANCIAL CDS EUR S ,00 BANCA IMI SPA 20/06/ , ,66 34

35 Soluzioni Eurizon - Strategia I - 08/2019 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2014 IN EUR Assets Notes Investments in securities (Note 2) ,41 Banks ,65 Unrealised profit on forward foreign exchange contracts (Note 9) 3 556,44 Other assets (Note 7) ,36 Total assets ,86 Liabilities Bank overdrafts (166,67) Unrealised loss on forward foreign exchange contracts (Note 9) (97 808,70) Other liabilities ( ,24) Total liabilities ( ,61) Total net assets ,25 Currency Net Asset Value per Unit Units outstanding Class R Units EUR 121, ,672 35

36 Soluzioni Eurizon - Strategia I - 08/2019 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 IN EUR Net assets at the beginning of the period Notes ,44 Net income from investments (Note 2) ,93 Interest on bank accounts 802,28 Other income (Note 10) ,63 Total income ,84 Management fee (Note 5) ( ,24) Depositary fee (Note 8) (5 767,02) Subscription tax (Note 3) (5 171,74) Interest on bank accounts (186,76) Other charges and taxes (Notes 4, 7,8) (77 318,17) Total expenses ( ,93) Net investment income / (loss) (32 275,09) Net realised profit / (loss) on sales of investments, currencies and other financial instruments ,07 Change in unrealised appreciation / (depreciation) on - investments (Note 2) (26 744,34) - forward foreign exchange contracts (Note 9) (76 468,00) - foreign currencies 3 586,48 Net result of operations for the period ,12 Redemptions for the period ( ,31) Net assets at the end of the period ,25 36

37 Soluzioni Eurizon - Strategia I - 08/2019 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets PORTFOLIO , ,41 86,38 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING , ,41 86,38 Zero-Coupon Bonds , ,00 35,65 ITALY , ,00 35,65 Government , ,00 35, ,00 BOT 0.00% 14/01/2015 EUR , ,00 14, ,00 BOT 0.00% 14/10/2014 EUR , ,00 7, ,00 BOT 0.00% 28/11/2014 EUR , ,00 5, ,00 BOT 0.00% 31/12/2014 EUR , ,00 4, ,00 BOT 0.00% 14/11/2014 EUR , ,00 3, ,00 BOT 0.00% 31/10/2014 EUR , ,00 0, ,00 BOT 0.00% 30/01/2015 EUR , ,00 0,52 Shares , ,41 50,73 UNITED STATES , ,18 21,04 Computing and IT , ,36 5, ,00 CISCO SYSTEMS INC USD , ,11 0, ,00 INTEL CORP USD , ,73 0, ,00 MICROSOFT CORP USD , ,06 0,38 494,00 INTERNATIONAL BUSINESS MACHINES CORP USD , ,94 0, ,00 MICROCHIP TECHNOLOGY INC USD , ,31 0, ,00 EMC CORP USD , ,17 0, ,00 QUALCOMM INC USD , ,81 0, ,00 FIDELITY NATIONAL INFORMATION SERVICES INC USD , ,22 0,38 923,00 APPLE INC USD , ,50 0, ,00 LINEAR TECHNOLOGY CORP USD , ,74 0, ,00 KLA-TENCOR CORP USD , ,11 0, ,00 XEROX CORP USD , ,61 0, ,00 TEXAS INSTRUMENTS INC USD , ,79 0, ,00 HARRIS CORP USD , ,97 0, ,00 CORNING INC USD , ,29 0,37 Industries , ,25 5,03 851,00 L-3 COMMUNICATIONS HOLDINGS INC USD , ,56 0,42 533,00 LOCKHEED MARTIN CORP USD , ,93 0,40 727,00 NORTHROP GRUMMAN CORP USD , ,85 0,39 936,00 RAYTHEON CO USD , ,93 0,39 745,00 GENERAL DYNAMICS CORP USD , ,16 0,39 892,00 UNITED TECHNOLOGIES CORP USD , ,77 0, ,00 REPUBLIC SERVICES INC USD , ,38 0, ,00 LEGGETT & PLATT INC USD , ,78 0, ,00 BEMIS CO INC USD , ,46 0,38 939,00 CATERPILLAR INC USD , ,06 0, ,00 EMERSON ELECTRIC CO USD , ,40 0, ,00 ILLINOIS TOOL WORKS INC USD , ,95 0,38 832,00 ROCKWELL AUTOMATION INC USD , ,02 0,37 Basic Goods , ,66 3, ,00 ARCHER-DANIELS-MIDLAND CO USD , ,50 0, ,00 DR PEPPER SNAPPLE GROUP INC USD , ,77 0,39 874,00 KIMBERLY-CLARK CORP USD , ,05 0, ,00 GENERAL MILLS INC USD , ,40 0, ,00 PEPSICO INC USD , ,34 0, ,00 KELLOGG CO USD , ,64 0, ,00 PROCTER & GAMBLE CO USD , ,16 0, ,00 MOLSON COORS BREWING CO -B- USD , ,80 0,38 Health , ,92 3,04 832,00 BECTON DICKINSON AND CO USD , ,39 0,39 668,00 AMGEN INC USD , ,52 0, ,00 ABBVIE INC USD , ,08 0, ,00 UNITEDHEALTH GROUP INC USD , ,83 0,38 777,00 WELLPOINT INC USD , ,89 0, ,00 MERCK & CO INC USD , ,61 0,38 37

38 Soluzioni Eurizon - Strategia I - 08/2019 PORTFOLIO AS AT 30 SEPTEMBER 2014 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value % of Net Assets 1 231,00 CARDINAL HEALTH INC USD , ,34 0, ,00 MEDTRONIC INC USD , ,26 0,37 Consumer Retail , ,39 1, ,00 WYNDHAM WORLDWIDE CORP USD , ,33 0, ,00 GENUINE PARTS CO USD , ,27 0, ,00 MACY'S INC USD , ,96 0,38 646,00 TIME WARNER CABLE INC USD , ,83 0,38 Finance , ,09 1,15 289,00 BLACKROCK INC USD , ,41 0, ,00 TRAVELERS COS INC USD , ,48 0, ,00 PRINCIPAL FINANCIAL GROUP INC USD , ,20 0,38 Raw materials , ,68 0, ,00 INTERNATIONAL PAPER CO USD , ,51 0, ,00 DOW CHEMICAL CO USD , ,17 0,38 Multi-Utilities , ,07 0, ,00 WISCONSIN ENERGY CORP USD , ,07 0,38 Energy , ,76 0, ,00 PHILLIPS 66 USD , ,76 0,38 GREAT-BRITAIN , ,77 6,51 Consumer Retail , ,09 3, ,00 COMPASS GROUP PLC GBP , ,49 0, ,00 CAPITA PLC GBP , ,22 0, ,00 BRITISH SKY BROADCASTING GROUP PLC GBP , ,50 0, ,00 INTERCONTINENTAL HOTELS GROUP PLC GBP , ,83 0, ,00 REED ELSEVIER PLC GBP , ,73 0, ,00 WPP PLC GBP , ,40 0, ,00 GKN PLC GBP , ,62 0, ,00 NEXT PLC GBP , ,30 0,45 Energy , ,10 0, ,00 AMEC PLC GBP , ,10 0,48 Basic Goods , ,40 0, ,00 RECKITT BENCKISER GROUP PLC GBP , ,40 0,47 Health , ,64 0, ,00 ASTRAZENECA PLC GBP , ,64 0,47 Finance , ,06 0, ,00 DIRECT LINE INSURANCE GROUP PLC GBP , ,06 0,46 Computing and IT , ,46 0, ,00 SAGE GROUP PLC GBP , ,46 0,46 Telecommunication , ,02 0, ,00 BT GROUP PLC GBP , ,02 0,46 SWITZERLAND , ,59 5,30 Industries , ,06 1, ,00 ABB LTD REG CHF , ,21 0,46 32,00 SIKA AG -BR- CHF , ,22 0, ,00 GARMIN LTD USD , ,48 0, ,00 TE CONNECTIVITY LTD USD , ,15 0,36 Health , ,92 0, ,00 NOVARTIS AG REG CHF , ,11 0,48 380,00 ROCHE HOLDING AG CHF , ,81 0,46 Raw materials , ,08 0,93 71,00 GIVAUDAN SA REG CHF , ,72 0,47 936,00 LONZA GROUP AG REG CHF , ,36 0,46 Finance , ,53 0, ,00 SWISS RE AG CHF , ,26 0,46 890,00 ACE LTD USD , ,27 0,38 38