Amundi Fund Solutions

Transcription

1 3 ( udited)

2 Amundi Fund Solutions Unaudited semiannual report R.C.S. Luxembourg B For the period from 01/01/18 to 30/06/18 No subscriptions can be received on the basis of these financial statements. Subscriptions are only valid if made on the basis of the current prospectus and the Key Investor Information Document ( KIID ), accompanied by a copy of the latest annual report including audited financial statements and a copy of the latest semiannual report, if published thereafter.

3 Table of Contents Page Organisation 4 Portfolios details as at 30/06/18: MultiAsset SubFunds Amundi Fund Solutions Conservative 6 Amundi Fund Solutions Balanced 8 Amundi Fund Solutions Diversified Growth 10 Amundi Fund Solutions Diversified Income Best Select 12 Accounts: Statement of Net Assets 13 Statement of Share Statistics 16 Notes to the Financial Statements as at 30/06/18 19 Additional Information 29

4 Organisation REGISTERED OFFICE OF THE SICAV 5, Allée Scheffer L2520 Luxembourg Grand Duchy of Luxembourg CORPORATE GOVERNANCE The SICAV is subject to corporate governance based, inter alia, on: 1. Its obligations as defined by the amended Law of 17 December 2010 relating to Undertakings for Collective Investment in Transferable Securities of the Grand Duchy of Luxembourg and circulars issued by the Commission de Surveillance du Secteur Financier ( CSSF ) which complements the regulatory framework. 2. Its Articles of Incorporation which are available for inspection at the registered office of the SICAV and at the Luxembourg corporate and trade register, Registre de Commerce et des Sociétés ( RCSL ). 3. The obligations in respect of the management of the Company, for which the SICAV has appointed Amundi Luxembourg S.A. BOARD OF DIRECTORS OF THE SICAV Chairman Members Enrico TURCHI Deputy Chief Executive Officer and Managing Director of Amundi Luxembourg S.A., residing in Luxembourg David GLASSEY Head of Legal (Product & Distribution), Amundi Ireland Ltd (previously known as Pioneer Investment Management Limited) residing in Ireland Marco ATZENI Chief of Staff for MultiAsset Investments, Amundi SGR S.p.A., residing in Italy MANAGEMENT COMPANY, DOMICILIARY AGENT AND DISTRIBUTOR Amundi Luxembourg S.A. 5, Allée Scheffer L2520 Luxembourg Grand Duchy of Luxembourg BOARD OF DIRECTORS OF THE MANAGEMENT COMPANY Chairman Patrick ZURSTRASSEN (until 5 April 2018) Member of the Board of Directors of various fund management companies, residing in Luxembourg David HARTE (as from 6 April 2018) Deputy Head Operations, Services & Technology Division, Amundi Ireland Ltd, residing in Ireland Members Julien FAUCHER Managing Director Amundi Luxembourg S.A. residing in Luxembourg David HARTE (until 5 April 2018) Deputy Head Operations, Services & Technology Division, Amundi Ireland Ltd, residing in Ireland Claude KREMER Partner, Arendt & Medernach S.A., residing in Luxembourg John LI (until 5 April 2018) Independent Director of various companies including funds and other financial sector companies, residing in Luxembourg Corinne MASSUYEAU (until 5 April 2018) Global Head Institutional Client Services, Amundi Asset Management S.A.S, residing in France Enrico TURCHI Deputy Chief Executive Officer and Managing Director, Amundi Luxembourg S.A., residing in Luxembourg 4

5 Organisation CONDUCTING OFFICERS OF THE MANAGEMENT COMPANY Within the meaning of Article 102 (1) c) of the amended law of 17 December 2010, the Management Company has appointed the following Conducting Officers: Mr. Julien Faucher, Managing Director / Chief Executive Officer, Amundi Luxembourg S.A. Mr. Enrico Turchi, Managing Director / Deputy Chief Executive Officer, Amundi Luxembourg S.A. Mr. Olivier Guilbaut, Chief Operating Officer, Amundi Luxembourg S.A. Mr. Charles Giraldez, Deputy Chief Executive Officer, Amundi Luxembourg S.A. Mr. François de la Villeon, Real Estate Portfolio Manager, Amundi Luxembourg S.A. Main responsibilities of the Conducting Officers are to ensure: the implementation of strategies and guiding principles for central administration and internal governance through written internal policies and procedures the implementation of adequate internal control functions that the Management Company has technical infrastructure and human resources adequate to perform its activities. ADMINISTRATOR, REGISTRAR AND TRANSFER AGENT Société Générale Bank & Trust (Operational center) 2832, Place de la gare L1616 Luxembourg Grand Duchy of Luxembourg DEPOSITARY AND PAYING AGENT Société Générale Bank & Trust 11, Avenue Emile Reuter L2420 Luxembourg Grand Duchy of Luxembourg INVESTMENT MANAGERS Amundi Ireland Ltd (previously known as Pioneer Investment Management Limited) 1, George s Quay Plaza George s Quay Dublin 2 Ireland Amundi Deutschland GmbH Arnulfstraße D80636 Munich Germany AUDITOR / CABINET DE RÉVISION AGRÉÉ Deloitte Audit, Société à responsabilité limitée 560, rue de Neudorf L2220 Luxembourg Grand Duchy of Luxembourg LEGAL ADVISOR Arendt & Medernach S.A. 41A, avenue J.F. Kennedy L2082 Luxembourg Grand Duchy of Luxembourg 5

6 Amundi Fund Solutions Conservative Securities Portfolio as at 30/06/18 Portfolios details as at 30/06/18: MultiAsset SubFunds % of NaV Market Value Quantity % of NaV Market Value Quantity Long positions Transferable securities admitted to an official stock exchange listing and/or dealt in on another regulated market Bonds Japan 388,000,000 JAPANESE GOVERNMENT CPI LINKED BOND 0.10% 10/03/2025 United States of America 4,654,800 UNITED STATES TREASURY INFLATION INDEXED BONDS 0.375% 15/01/2027 Share/Units of UCITS/UCIS Share/Units in investment funds France 9,392 AMUNDI MSCI OPE VALUE FACTOR UCITS ETF 62 NATIXIS ASSET MANAGEMENT NATIXIS SOUVERAINS O Ireland 1,579,253 BNY MELLON ABSOLUTE RETURN EQUITY FUND 16,197 ISHARES CORE MSCI PACIFIC EXJAPAN UCITS ETF ACC 11,202 ISHARES MSCI CANADA UCITS ETF 874,913 J O HAMBRO CAPITAL MANAGEMENT UMBRELLA FUND PLC OPEAN SELECT VALUES FUND 6,983 LAZARD GLOBAL ACTIVE FUNDS PLC EMERGING MARKET EQUITY FUND 625,988 OLD MUTUAL DUBLIN FUNDS PLC OLD MUTUAL GLOBAL EQUITY ABSOLUTE RETURN FUND 368,772 PIMCO FUNDS GLOBAL INVESTORS SERIES PLC GLOBAL BOND FUND 295,558 PIMCO FUNDS GLOBAL INVESTORS SERIES PLC GLOBAL INVESTMENT GRADE CREDIT FUND 529,982 WELLINGTON MANAGEMENT FUNDS IRELAND PLC WELLINGTON GLOBAL BOND FUND Jersey 24,669 ETFS PHYSICAL GOLD 1,753 ETFS PHYSICAL SWISS GOLD Luxembourg ABERDEEN GLOBAL EMERGING MARKETS EQUITY FUND 5,235 AMUNDI FUNDS ABSOLUTE VOLATILITY O EQUITIES M 2,429 AMUNDI FUNDS BOND GLOBAL AGGREGATE IHE 53,329 AXA WORLD FUNDS GLOBAL CREDIT BONDS 4,261 AXA WORLD FUNDS US HIGH YIELD BONDS 718,701 BLACKROCK GLOBAL FUNDS O BOND FUND 6,122 BLACKROCK STRATEGIC FUNDS FIXED INCOME STRATEGIES FUND 178,738,419 17,241,411 7,187,775 3,170,809 3,170,809 4,016,966 4,016, ,297, ,297,019 11,911,578 2,039,976 9,871,602 34,409,870 1,653,952 2,016,850 1,232,167 2,103, ,116 1,043,459 9,894,153 5,447,134 10,087,747 2,713,271 2,531, , ,718, ,604 2,506,024 4,718, ,523 10,255, , ,198 BLUEBAY INVESTMENT GRADE O AGGREGATE BOND FUND 85,207 BLUEBAY INVESTMENT GRADE O GOVERNMENT BOND FUND 6,994 FIDELITY ACTIVE STRATEGY EMERGING MARKETS FUND 589,809 FIDELITY FUNDS O BOND FUND 7,228 GOLDMAN SACHS SICAV I GS GLOBAL STRATEGIC MACRO BOND PTF 113,237 GOLDMAN SACHS GROWTH & EMERGING MARKETS DEBT PORTFOLIO 221,534 HENDERSON GARTMORE FUND UNITED KINGDOM ABSOLUTE RETURN 49,189 INVESCO JAPANESE EQUITY ADVANTAGE FUND 21,761 JPMORGAN FUNDS AMERICA EQUITY FUND 3,338 JPMORGAN INVESTMENT FUNDS INCOME OPPORTUNITY 4,936 JULIUS BAER MULTIBOND ABSOLUTE RETURN BOND FUND 109,749 MORGAN STANLEY INVESTMENT FUNDS O STRATEGIC BOND FUND 30 NATIXIS AM FUNDS NATIXIS O AGGREGATE 9,223 NORDEA 1 SICAV EMERGING STARS EQUITY FUND 39,725 NORDEA 1 SICAV OPEAN HIGH YIELD BOND FUND 19,471 PARVEST SUSTAINABLE BOND O 44,608 PARVEST BOND O GOVERNMENT 32,383 PARVEST EQUITY USA MID CAP 10,621 PICTET BONDS 5,735 RAM LUX SYSTEMATIC FUNDS EMERGING MARKETS EQUITIES 258,216 SCHRODER INTERNATIONAL SELECTION FUND O BOND 18,771 SCHRODER INTERNATIONAL SELECTION FUND OPEAN VALUE 886,945 SCHRODER INTERNATIONAL SELECTION FUND GLOBAL BOND 46,912 SEB FUND 1 SEB ASSET SELECTION 12,588 SPARINVEST SICAV OPEAN VALUE R 64,198 STATE STREET ENHANCED EMERGING MARKETS EQUITY FUND 201,627 STATE STREET OPE VALUE SPOTLIGHT FUND 110,540 T ROWE PRICE FUNDS SICAV OPEAN EQUITY FUND 36,268 THREADNEEDLE LUX US CONTRARIAN CORE EQUITIES 6,006 UBAM ADAMS US SMALL CAP EQUITY 4,492 VONTOBEL FUND EMERGING MARKETS EQUITY United Kingdom 1,158,936 ARTEMIS INVESTMENT FUNDS ICVC US ABSOLUTE RETURN FUND 507,302 MAN INTERNATIONAL ICVC JAPAN COREALPHA 217,736 M&G INVESTMENT FUNDS 4 GLOBAL MACRO BOND FUND 9,250,633 10,960,159 1,006,434 6,134, ,378 2,154,900 1,600, , , , ,418 4,571,046 5,106,658 1,063,187 1,402,293 3,104,651 9,431, ,064 6,413, ,451 6,433,813 1,714,934 10,553, ,577 1,855, ,408 2,028,549 1,662,522 1,489, , ,926 5,431,814 1,261,154 1,050,342 2,337, The accompanying notes form an integral part of these financial statements 6

7 Amundi Fund Solutions Conservative Securities Portfolio as at 30/06/18 % of NaV Market Value Quantity 340,004 SARASIN FOOD AND AGRICULTURAL OPPORTUNITIES United States of America 51,456 M&G INVESTMENT FUNDS 1 NORTH AMERICAN VALUE FUND Derivative instruments Options Luxembourg 3,740,000 FX OPTION CALL / PUT ,000,000 FX OPTION PUT AUD / CALL JPY ,923,000 FX OPTION PUT AUD / CALL JPY ,600,000 PUT CDX OPTION CDX NA HY 30 INDEX United States of America 12 S&P 500 INDEX 2, PUT Short positions 783,161 1,111,974 1,111, , , ,254 40,634 43, ,995 19,635 30,371 30, , Derivative instruments Options Luxembourg 2,923,000 FX OPTION PUT AUD / CALL JPY Total securities portfolio 118, , , , ,619, The accompanying notes form an integral part of these financial statements 7

8 Amundi Fund Solutions Balanced Securities Portfolio as at 30/06/18 % of NaV Market Value Quantity % of NaV Market Value Quantity Long positions Transferable securities admitted to an official stock exchange listing and/or dealt in on another regulated market Bonds Japan 282,400,000 JAPANESE GOVERNMENT CPI LINKED BOND 0.10% 10/03/2025 United States of America 3,538,700 UNITED STATES TREASURY INFLATION INDEXED BONDS 0.375% 15/01/2027 Share/Units of UCITS/UCIS Share/Units in investment funds France 9,950 AMUNDI MSCI OPE VALUE FACTOR UCITS ETF 41 NATIXIS ASSET MANAGEMENT NATIXIS SOUVERAINS O Ireland 1,009,275 BNY MELLON ABSOLUTE RETURN EQUITY FUND BNY MELLON GLOBAL FUNDS PLC ASIAN EQUITY FUND GLG INVESTMENTS PLC GLG JAPAN COREALPHA EQUITY 25,451 ISHARES CORE MSCI PACIFIC EXJAPAN UCITS ETF ACC 11,398 ISHARES MSCI CANADA UCITS ETF 1,549,335 J O HAMBRO CAPITAL MANAGEMENT UMBRELLA FUND PLC OPEAN SELECT VALUES FUND 14,200 LAZARD GLOBAL ACTIVE FUNDS PLC EMERGING MARKET EQUITY FUND 428,135 OLD MUTUAL DUBLIN FUNDS PLC OLD MUTUAL GLOBAL EQUITY ABSOLUTE RETURN FUND 154,242 PIMCO FUNDS GLOBAL INVESTORS SERIES PLC GLOBAL BOND FUND 231,151 PIMCO FUNDS GLOBAL INVESTORS SERIES PLC GLOBAL INVESTMENT GRADE CREDIT FUND 222,322 WELLINGTON MANAGEMENT FUNDS IRELAND PLC WELLINGTON GLOBAL BOND FUND Jersey 27,794 ETFS PHYSICAL GOLD 3,396 ETFS PHYSICAL GOLD 1,987 ETFS PHYSICAL SWISS GOLD Luxembourg 3,686 AMUNDI FUNDS ABSOLUTE VOLATILITY O EQUITIES M 1,014 AMUNDI FUNDS BOND GLOBAL AGGREGATE IHE 89,262 AMUNDI INDEX MSCI NORTH AMERICA UCITS ETF DR 141,626,528 12,433,170 5,361,628 2,307,826 2,307,826 3,053,802 3,053, ,961, ,961,388 8,677,928 2,161,176 6,516,752 24,441,725 1,057, ,169,159 1,253,726 3,724,601 1,893, ,658 4,138,313 4,260,113 4,231,706 3,406,677 2,851, , ,333 89,947, ,714 1,046,154 5,395, ,080 AXA WORLD FUNDS GLOBAL CREDIT BONDS 6,378 AXA WORLD FUNDS US HIGH YIELD BONDS 277,079 BLACKROCK GLOBAL FUNDS O BOND FUND 4,141 BLACKROCK STRATEGIC FUNDS FIXED INCOME STRATEGIES FUND 21,201 BLUEBAY INVESTMENT GRADE O AGGREGATE BOND FUND 61,321 BLUEBAY INVESTMENT GRADE O GOVERNMENT BOND FUND 13,062 FIDELITY ACTIVE STRATEGY EMERGING MARKETS FUND 228,075 FIDELITY FUNDS O BOND FUND 4,934 GOLDMAN SACHS SICAV I GS GLOBAL STRATEGIC MACRO BOND PTF 103,926 GOLDMAN SACHS GROWTH & EMERGING MARKETS DEBT PORTFOLIO 151,843 HENDERSON GARTMORE FUND UNITED KINGDOM ABSOLUTE RETURN 148,448 INVESCO JAPANESE EQUITY ADVANTAGE FUND 123,905 JPMORGAN FUNDS AMERICA EQUITY FUND 2,219 JPMORGAN INVESTMENT FUNDS INCOME OPPORTUNITY 3,309 JULIUS BAER MULTIBOND ABSOLUTE RETURN BOND FUND 42,420 MORGAN STANLEY INVESTMENT FUNDS O STRATEGIC BOND FUND 11 NATIXIS AM FUNDS NATIXIS O AGGREGATE 20 NORDEA 1 SICAV EMERGING STARS EQUITY FUND 40,156 NORDEA 1 SICAV OPEAN HIGH YIELD BOND FUND 8,060 PARVEST SUSTAINABLE BOND O 33,195 PARVEST BOND O GOVERNMENT 116,606 PARVEST EQUITY USA MID CAP 5,338 PARVEST EQUITY USA SMALL CAP 4,076 PICTET BONDS 10,456 RAM LUX SYSTEMATIC FUNDS EMERGING MARKETS EQUITIES 99,028 SCHRODER INTERNATIONAL SELECTION FUND O BOND 29,456 SCHRODER INTERNATIONAL SELECTION FUND OPEAN VALUE 371,657 SCHRODER INTERNATIONAL SELECTION FUND GLOBAL BOND 32,047 SEB FUND 1 SEB ASSET SELECTION 19,091 SPARINVEST SICAV OPEAN VALUE R 139,123 STATE STREET ENHANCED EMERGING MARKETS EQUITY FUND 347,769 STATE STREET OPE VALUE SPOTLIGHT FUND 193,179 T ROWE PRICE FUNDS SICAV OPEAN EQUITY FUND 92,532 THREADNEEDLE LUX US CONTRARIAN CORE EQUITIES 3,823 UBAM ADAMS US SMALL CAP EQUITY 9,065 VONTOBEL FUND EMERGING MARKETS EQUITY 2,661,354 1,398,823 3,953, ,921 3,553,076 7,887,723 1,879,617 2,371, ,795 1,977,712 1,097,263 2,770,040 3,490, , ,447 1,766,793 1,872,441 2,306 1,417,507 1,285,167 7,018,419 2,758,475 1,373,583 2,461,415 1,592,468 2,467,421 2,691,122 4,422, ,425 2,814,777 1,665,210 3,498,869 2,905,412 3,799, ,792 1,487, The accompanying notes form an integral part of these financial statements 8

9 Amundi Fund Solutions Balanced Securities Portfolio as at 30/06/18 % of NaV Market Value Quantity United Kingdom 790,287 ARTEMIS INVESTMENT FUNDS ICVC US ABSOLUTE RETURN FUND 1,070,508 ARTEMIS US EXTENDED ALPHA FUND 1,544,220 MAN INTERNATIONAL ICVC JAPAN COREALPHA 91,771 M&G INVESTMENT FUNDS 4 GLOBAL MACRO BOND FUND 447,215 SARASIN FOOD AND AGRICULTURAL OPPORTUNITIES United States of America 88,982 M&G INVESTMENT FUNDS 1 NORTH AMERICAN VALUE FUND Derivative instruments Options Luxembourg 4,530,000 FX OPTION CALL / PUT ,500,000 FX OPTION PUT AUD / CALL JPY ,485,000 FX OPTION PUT AUD / CALL JPY ,420,000 PUT CDX OPTION CDX NA HY 30 INDEX United States of America 15 S&P 500 INDEX 2, PUT Short positions 7,565, ,990 1,492,687 3,197, ,061 1,030,109 1,922,919 1,922, , , ,548 49,217 51, ,874 23,135 37,964 37, , Derivative instruments Options Luxembourg 3,485,000 FX OPTION PUT AUD / CALL JPY Total securities portfolio 141, , , , ,484, The accompanying notes form an integral part of these financial statements 9

10 Amundi Fund Solutions Diversified Growth Securities Portfolio as at 30/06/18 % of NaV Market Value Quantity % of NaV Market Value Quantity Long positions Transferable securities admitted to an official stock exchange listing and/or dealt in on another regulated market Bonds Italy 330,000 ITALY BUONI POLIENNALI DEL TESORO 1.50% 01/08/2019 Japan 131,300,000 JAPANESE GOVERNMENT CPI LINKED BOND 0.10% 10/03/2025 United States of America 1,621,400 UNITED STATES TREASURY INFLATION INDEXED BONDS 0.375% 15/01/2027 Share/Units of UCITS/UCIS Share/Units in investment funds France 6,367 AMUNDI MSCI OPE VALUE FACTOR UCITS ETF Ireland 435,083 BNY MELLON ABSOLUTE RETURN EQUITY FUND 49,205 INVESCO GLOBAL REAL ESTATE SECURITIES FUND 15,000 ISHARES J.P. MORGAN $ EMERGING MARKETS BOND UCITS ETF 152,463 ISHARES LISTED PRIVATE EQUITY UCITS ETF 616,250 J O HAMBRO CAPITAL MANAGEMENT UMBRELLA FUND PLC ASIA EXJAPAN FUND 681,744 J O HAMBRO CAPITAL MANAGEMENT UMBRELLA FUND PLC OPEAN SELECT VALUES FUND 5,798 LAZARD GLOBAL ACTIVE FUNDS PLC EMERGING MARKET EQUITY FUND 44,724 LEGG MASON RARE INFRASTRUCTURE VALUE FUND 28,000 L&G ROBO GLOBAL ROBOTICS AND AUTOMATION UCITS ETF 322,095 OLD MUTUAL DUBLIN FUNDS PLC OLD MUTUAL GLOBAL EQUITY ABSOLUTE RETURN FUND PIMCO FUNDS GLOBAL INVESTORS SERIES PLC GLOBAL BOND FUND Jersey 8,215 ETFS PHYSICAL GOLD 10,415 ETFS PHYSICAL SWISS GOLD Luxembourg 2,459 AMUNDI FUNDS ABSOLUTE VOLATILITY O EQUITIES M 12,441 AXA WORLD FUNDS GLOBAL HIGH YIELD BONDS 7,915 BLACKROCK STRATEGIC FUNDS FIXED INCOME STRATEGIES FUND 113,300 DB XTRACKERS DBLCIOY BALANCED ETF 1C 59,929,040 3,887,915 2,806, , ,175 1,073,008 1,073,008 1,399,224 1,399,224 56,927,689 56,927,689 1,382,935 1,382,935 10,344, , ,236 1,354,888 2,627,345 1,193,676 1,638, , , , , ,924, ,925 1,081,508 36,359, ,646 2,669, ,029 2,139, DEXIA BONDS EMERGING MARKETS 5,941 FIDELITY ACTIVE STRATEGY EMERGING MARKETS FUND 9,516 GOLDMAN SACHS SICAV I GS GLOBAL STRATEGIC MACRO BOND PTF 54,428 GOLDMAN SACHS GROWTH & EMERGING MARKETS DEBT PORTFOLIO 56,612 HENDERSON GARTMORE FUND UNITED KINGDOM ABSOLUTE RETURN 75,827 INVESCO JAPANESE EQUITY ADVANTAGE FUND 106,041 JPMORGAN FUNDS AMERICA EQUITY FUND 7,895 JPMORGAN INVESTMENT FUNDS INCOME OPPORTUNITY 4,755 JULIUS BAER MULTIBOND ABSOLUTE RETURN BOND FUND PLUS 2,336 JULIUS BAER MULTIPARTNER ROBECOSAM SMART MATERIALS FUND 3,357 MFS MERIDIAN FUNDS EMERGING MARKETS DEBT FUND 81 NN L GLOBAL REAL ESTATE 74,108 NORDEA 1 SICAV OPEAN HIGH YIELD BOND FUND 4,366 PARVEST EQUITY USA SMALL CAP 4,744 RAM LUX SYSTEMATIC FUNDS EMERGING MARKETS EQUITIES 15,618 SCHRODER INTERNATIONAL SELECTION FUND OPEAN VALUE 15,959 SCHRODER INTERNATIONAL SELECTION FUND FRONTIER MARKETS EQUITY 23,937 SEB FUND 1 SEB ASSET SELECTION 9,965 SPARINVEST SICAV OPEAN VALUE R 60,890 STATE STREET ENHANCED EMERGING MARKETS EQUITY FUND 165,277 STATE STREET OPE VALUE SPOTLIGHT FUND 90,728 T ROWE PRICE FUNDS SICAV OPEAN EQUITY FUND 46,288 THREADNEEDLE LUX ENHANCED COMMODITIES PORTFOLIO 79,815 THREADNEEDLE LUX US CONTRARIAN CORE EQUITIES 5,942 VONTOBEL FUND EMERGING MARKETS DEBT 3,764 VONTOBEL FUND EMERGING MARKETS EQUITY United Kingdom 371,884 ARTEMIS INVESTMENT FUNDS ICVC US ABSOLUTE RETURN FUND 972,291 ARTEMIS US EXTENDED ALPHA FUND 357,253 FIRST STATE INVESTMENTS ICVC GLOBAL LISTED INFRASTRUCTURE FUND 542,317 MAN INTERNATIONAL ICVC JAPAN COREALPHA 641,827 SARASIN FOOD AND AGRICULTURAL OPPORTUNITIES United States of America 81,576 M&G INVESTMENT FUNDS 1 NORTH AMERICAN VALUE FUND 630, , ,361 1,035, ,095 1,414,932 2,920, , , , , ,295 2,616,012 1,123, ,520 1,426,889 2,034, ,495 1,469, ,813 1,662,835 1,364, ,302 3,277, , ,495 5,153, ,684 1,355, ,744 1,122,839 1,478,376 1,762,874 1,762, The accompanying notes form an integral part of these financial statements 10

11 Amundi Fund Solutions Diversified Growth Securities Portfolio as at 30/06/18 % of NaV Market Value Quantity Derivative instruments Options Luxembourg 3,100,000 FX OPTION PUT AUD / CALL JPY ,092,000 FX OPTION PUT AUD / CALL JPY ,160,000 PUT CDX OPTION CDX NA HY 30 INDEX United States of America 4 S&P 500 INDEX 2, PUT Short positions 194, , ,820 45, ,874 13,489 10,124 10, , Derivative instruments Options Luxembourg 3,092,000 FX OPTION PUT AUD / CALL JPY Total securities portfolio 125, , , ,875 59,803, The accompanying notes form an integral part of these financial statements 11

12 Amundi Fund Solutions Diversified Income Best Select Securities Portfolio as at 30/06/18 % of NaV Market Value Quantity % of NaV Market Value Quantity Long positions Transferable securities admitted to an official stock exchange listing and/or dealt in on another regulated market Warrants, Rights Ireland 639,031 ISHARES PHYSICAL GOLD ETC Share/Units of UCITS/UCIS Share/Units in investment funds Germany 43,790 ISHARES STOXX OPE 600 OIL & GAS UCITS ETF DE 103,450 ISHARES STOXX OPE 600 UTILITIES UCITS ETF DE 286,471,889 13,456,021 13,456,021 13,456,021 13,456, ,539, ,539,375 4,539,767 1,540,751 2,999, ,839 GLOBAL EVOLUTION FUNDS FRONTIER MARKETS 833,002 INVESCO GLOBAL EQUITY INCOME FUND 106,066 INVESCO JAPANESE EQUITY ADVANTAGE FUND 1,398,017 JUPITER JGF DYNAMIC BOND 562,218 MORGAN STANLEY INVESTMENT FUNDS GLOBAL PROPERTY FUND 502,832 NORDEA 1 SICAV OPEAN HIGH YIELD BOND FUND 130,989 VONTOBEL FUND EMERGING MARKETS DEBT United Kingdom 0.95 FIRST STATE INVESTMENTS ICVC GLOBAL LISTED INFRASTRUCTURE FUND 1,048,305 M&G GLOBAL DIVIDEND FUND United States of America 8,865,191 11,970,239 4,341,922 14,818,980 13,430,059 5,772,511 11,931,549 22,805, ,805,246 3,438, Ireland 86,384, ,000 VANECK VECTORS GOLD MINERS UCITS ETF 3,438, ,373,168 GUINNESS ASSET MANAGEMENT FUNDS PLC GLOBAL EQUITY INCOME FUND 40,000 INVESCO MORNINGSTAR US ENERGY INFRASTRUCTURE MLP UCITS ETF 101,250 ISHARES EM DIVIDEND UCITS ETF DIST 470,034 ISHARES EM DIVIDEND UCITS ETF DIST 390,400 ISHARES O DIVIDEND UCITS ETF DIST 37,191 ISHARES TREASURY BOND 710YR UCITS ETF DIST 1,337,765 KBI INSTITUTIONAL EMERGING MARKETS EQUITY FUND 47,533 MAN FUNDS PLC MAN GLG JAPAN COREALPHA EQUITY 1,237,671 PIMCO FUNDS GLOBAL INVESTORS SERIES PLC INCOME FUND 52,000 UBS IRL ETF PLC MSCI USA VALUE UCITS ETF 50,000 VANGUARD FTSE ALLWORLD UCITS ETF Jersey 22,626,100 1,856,880 1,861,076 8,651,476 8,344,800 6,013,041 13,920,783 4,250,355 11,955,904 3,313,700 3,590,500 1,018, Derivative instruments Options Germany 100 DAX INDEX 11, PUT 125 DJ O STOXX 50 3, PUT Luxembourg 14,500,000 PUT CDX OPTION CDX NA HY 30 INDEX United States of America 15 NASDAQ 100 6, PUT 5 NASDAQ 100 6, PUT 35 S&P 500 INDEX 2, PUT 15 S&P 500 INDEX 2, PUT Short positions 476, , ,750 73,000 66,750 61,894 61, ,849 76,057 56, ,612 25, , ,849 ETFS PHYSICAL SILVER 1,018, Derivative instruments 142, Luxembourg 796,531 AB FCP I OPEAN INCOME PORTFOLIO 13,060 AMUNDI FUNDS ABSOLUTE VOLATILITY WORLD EQUITIES IHE 3,015 AMUNDI FUNDS BOND GLOBAL AGGREGATE IHE 25,968 AMUNDI FUNDS II GLOBAL EQUITY TARGET INCOME I DQ 8,414 AMUNDI FUNDS II PIONEER GLOBAL HIGH YIELD I DQ H 96,734 BLUEBAY INVESTMENT GRADE O AGGREGATE BOND FUND 5,700 BNP PARIBAS EASY FTSE EPRA/NAREIT OZONE CAPPED UCITS ETF 1,258,839 FIDELITY FUNDS GLOBAL DIVIDEND FUND 154,352,856 11,462,077 9,066,644 2,967,514 25,523,036 8,637,223 10,739,409 1,495,395 13,331, Options Germany 100 DAX INDEX 13, CALL 65 DAX INDEX 9, PUT 35 DJ O STOXX 50 2, PUT 125 DJ O STOXX 50 3, CALL United States of America 5 NASDAQ 100 7, CALL 10 S&P 500 INDEX 2, CALL 20 S&P 500 INDEX 2, CALL 30 S&P 500 INDEX 2, CALL Total securities portfolio 142,941 32,638 10,400 8,223 3,640 10, ,303 22,033 23,211 45,531 19, ,328, The accompanying notes form an integral part of these financial statements 12

13 Statement of Net Assets Accounts: Note Amundi Fund Solutions Conservative Amundi Fund Solutions Balanced Assets 30/06/ /06/ /06/ /06/2017 Securities at cost Net unrealised gains/(losses) on securities Investments in securities at market value Upfront premium Options contracts purchased at market value Net unrealised gain on forward foreign exchange contracts Net unrealised gain on financial futures contracts Net unrealised gain on swaps contracts Cash at bank and brokers Interest receivable Dividends receivable Receivables resulting from subscriptions Receivables resulting from sales of securities Other receivables 2 2 2, 8 2, 7 2, ,174,412 3,310, ,484, ,625 2,340 10,360,887 7,992 4, , ,976,413 3,650, ,627,334 66, ,979 4,027,095 10,778 4, ,935 1,943, ,011,834 4,311, ,323, ,512 7,270 9,298,996 6,161 3, , ,833,230 4,266, ,099,886 73, ,027 4,654,421 8,860 3, ,979 2,109,576 Total Assets 189,370, ,346, ,129, ,355,422 Liabilities Bank overdraft Upfront premium Options contracts written at market value Net unrealised loss on futuresstyle options contracts Net unrealised loss on forward foreign exchange contracts Net unrealised loss on financial futures contracts Net unrealised loss on swaps contracts Payables resulting from redemptions Payables resulting from purchases of securities Accrued expenses Other payables 2 2 2, 8 2, 7 2, 11 2,565, , , , , ,766 76, ,359 8, , , , , ,042 37, , , , , , ,337 80, ,837 9, , , , , ,126 32,598 Total Liabilities 4,172,876 2,010,100 1,779,431 1,248,017 Net Assets 185,197, ,336, ,350, ,107,405 The accompanying notes form an integral part of these financial statements 13

14 Statement of Net Assets Note Amundi Fund Solutions Diversified Growth Amundi Fund Solutions Diversified Income Best Select Assets 30/06/ /06/ /06/ /06/2017 Securities at cost Net unrealised gains/(losses) on securities Investments in securities at market value Upfront premium Options contracts purchased at market value Net unrealised gain on forward foreign exchange contracts Net unrealised gain on financial futures contracts Net unrealised gain on swaps contracts Cash at bank and brokers Interest receivable Dividends receivable Receivables resulting from subscriptions Receivables resulting from sales of securities Other receivables 2 2 2, 8 2, 7 57,247,439 2,486,657 59,734, ,944 27,645 6,489,231 9,639 30,068 57,601,353 2,386,191 59,987, ,354 4,611,449 7,701 16,747 1,247, ,010,323 7,014, ,995, ,493 10, ,086 10,508,423 3,932 26, ,404 2,533,481 28, ,190,683 3,132, ,058, ,610 1,056, ,290 10,106, , ,322 34,490 Total Assets 66,485,623 66,084, ,789, ,743,082 Liabilities Bank overdraft Upfront premium Options contracts written at market value Net unrealised loss on futuresstyle options contracts Net unrealised loss on forward foreign exchange contracts Net unrealised loss on financial futures contracts Net unrealised loss on swaps contracts Payables resulting from redemptions Payables resulting from purchases of securities Accrued expenses Other payables 2 2 2, 8 2, 7 2, , , , ,868 15, ,041 46, ,544 47, ,769 28,451 36,675 93,669 64, ,367 17,805 89, ,941 98,543 2,269, ,687 41, ,800 92,389 7,938, ,175 Total Liabilities 929,007 1,497,367 3,046,660 8,667,292 Net Assets 65,556,616 64,587, ,743, ,075,790 The accompanying notes form an integral part of these financial statements 14

15 Statement of Net Assets Note Combined Assets 30/06/ /06/2017 Securities at cost Net unrealised gains/(losses) on securities Investments in securities at market value Upfront premium Options contracts purchased at market value Net unrealised gain on forward foreign exchange contracts Net unrealised gain on financial futures contracts Net unrealised gain on swaps contracts Cash at bank and brokers Interest receivable Dividends receivable Receivables resulting from subscriptions Receivables resulting from sales of securities Other receivables 2 2 2, 8 2, 7 662,444,008 3,093, ,537,302 1,228,574 10, ,086 37,255 36,657,537 27,724 34, ,109 2,533,522 28, ,794,831 7,539, ,334, ,020 1,056, ,296 23,742,994 27, ,068 1,586,983 5,299,933 34,934 Total Assets 707,775, ,434,459 Liabilities Bank overdraft Upfront premium Options contracts written at market value Net unrealised loss on futuresstyle options contracts Net unrealised loss on forward foreign exchange contracts Net unrealised loss on financial futures contracts Net unrealised loss on swaps contracts Payables resulting from redemptions Payables resulting from purchases of securities Accrued expenses Other payables 2 2 2, 8 2, 7 2, 11 3,208, , ,704 1,219, ,625 2,269,919 1,149, ,565 1,196, , ,128,290 28, , ,413 8,397,235 1,208,354 87,588 Total Liabilities 9,927,974 13,432,272 Net Assets 697,847, ,002,187 The accompanying notes form an integral part of these financial statements 15

16 Statement of Share Statistics Amundi Fund Solutions Conservative Period/Year ending as of: 30/06/18 31/12/17 31/12/16 Total Net Assets 185,197, ,449, ,723,726 Class A Distributing Annually Number of shares 200, , , Net asset value per share Class A Non Distributing Number of shares 1,966, ,479, ,053, Net asset value per share Net asset value per share Class A Hedge Non Distributing Number of shares 488, , , Net asset value per share CZK 1, , , Class C Non Distributing Number of shares 1,756, ,682, ,411, Net asset value per share Class E Non Distributing Number of shares 11,903, ,688, ,375, Net asset value per share Class F Non Distributing Number of shares 2,531, ,742, ,490, Net asset value per share Class I Non Distributing Number of shares Net asset value per share 1, , Class R Distributing Annually Number of shares Net asset value per share Class R Non Distributing Number of shares Net asset value per share Net asset value per share Amundi Fund Solutions Balanced Period/Year ending as of: 30/06/18 31/12/17 31/12/16 Total Net Assets 149,350, ,592, ,811,125 Class A Non Distributing Number of shares 630, , , Net asset value per share Net asset value per share Class A Hedge Non Distributing Number of shares 544, , , Net asset value per share CZK 1, , , The accompanying notes form an integral part of these financial statements 16

17 Statement of Share Statistics Amundi Fund Solutions Balanced Period/Year ending as of: 30/06/18 31/12/17 31/12/16 Class C Non Distributing Number of shares 122, , , Net asset value per share Class E Non Distributing Number of shares 7,774, ,398, ,249, Net asset value per share Class F Non Distributing Number of shares 1,782, ,896, ,162, Net asset value per share Class R Non Distributing Number of shares Net asset value per share Net asset value per share Amundi Fund Solutions Diversified Growth Period/Year ending as of: 30/06/18 31/12/17 31/12/16 Total Net Assets 65,556,616 66,499,429 64,235,548 Class A Non Distributing Number of shares 903, , , Net asset value per share Net asset value per share Class A Hedge Non Distributing Number of shares 255, , , Net asset value per share CZK Class E Non Distributing Number of shares 299, , , Net asset value per share Class F Non Distributing Number of shares 155, , , Net asset value per share Class H Distributing Annually Number of shares Net asset value per share 1, , , Class R Non Distributing Number of shares Net asset value per share The accompanying notes form an integral part of these financial statements 17

18 Statement of Share Statistics Amundi Fund Solutions Diversified Income Best Select Period/Year ending as of: 30/06/18 31/12/17 31/12/16 Total Net Assets 297,743, ,479,244 Class A Annually Distributing Number of shares 6,174, ,909, Net asset value per share Class H Annually Distributing Number of shares Net asset value per share , Class I Annually Distributing Number of shares Net asset value per share , Amundi Fund Solutions Diversified Alpha Period/Year ending as of: 30/06/18 31/12/17 31/12/16 Total Net Assets 9,953,104 9,968,127 Class A Non Distributing Number of shares Net asset value per share Class A Hedge Non Distributing Number of shares 6, , Net asset value per share Class C Non Distributing Number of shares Net asset value per share Class C Hedge Non Distributing Number of shares 6, Net asset value per share Class H Non Distributing Number of shares 5.00 Net asset value per share Class I Non Distributing Number of shares 9, , Net asset value per share 1, Class R Non Distributing Number of shares Net asset value per share Class R Hedge Non Distributing Number of shares 4, , Net asset value per share The accompanying notes form an integral part of these financial statements 18

19 Notes to the Financial Statements as at 30/06/18 1 INTRODUCTION Amundi Fund Solutions (previously known as Pioneer Fund Solutions) (the SICAV ) is organised as an openended investment company. The Company is an Undertaking for Collective Investment in Transferable Securities (UCITS) created on 24 October 2014 and qualifies under Part I of the Luxembourg amended law of 17 December 2010 relating to Undertakings for Collective Investment. It is governed by the Management Regulations effective as at yearend, and updated for the last time on 12 February 2018 and published in the Recueil Electronique des Sociétés et Associations ( RESA ) on 12 November The SICAV s initial capital of thirty one thousand Euro ( 31,000) divided into three hundred and ten (310) Shares of no par value fully held by Amundi Luxembourg S.A. has been unblocked after the effective launch of Amundi Fund Solutions. The SICAV is managed by Amundi Luxembourg S.A. (the Management Company ) a company organised in the form of a public limited company ( société anonyme ) under chapter 15 of the Law of 17 December 2010 as amended, wholly owned subsidiary of Amundi Asset Management S.A.S, registered with the Trade and Companies Register under number B and having its registered office in Luxembourg. It was incorporated on 20 December 1996 for an unlimited period of time. Its Articles of Incorporation are published in the Mémorial on 28 January 1997 and have been amended for the last time on 1 January As from 1 January 2018 Pioneer Asset Management S.A. ( PAMSA ) has been renamed Amundi Luxembourg S.A. Pioneer Fund Solutions has been renamed into Amundi Fund Solutions on 17 February The Class N has been renamed Class R on 17 February The following SubFund has been liquidated : Pioneer Fund Solutions Diversified Alpha on 12 February As at 30 June 2018, 4 SubFunds were active as detailed below: Amundi Fund Solutions Conservative Amundi Fund Solutions Balanced Amundi Fund Solutions Diversified Growth Amundi Fund Solutions Diversified Income Best Select Detailed Share Classes active as at 30 June 2018 are listed in the Statement of Share Statistics and description of Shares Classes are disclosed in the last prospectus. 2 PRINCIPAL ACCOUNTING CONVENTIONS n PRESENTATION OF FINANCIAL STATEMENTS These financial statements are prepared in accordance with Luxembourg legal and regulatory requirements relating to undertakings for collective investment in transferable securities and generally accepted accounting principles. The financial statements reflect the Net Asset Values ( NAV ) as calculated on the last business day of the period based on latest available market prices of the investments. Valuation of investments and other instruments The following pricing policy applies: n Valuation of investments Investments which are quoted or dealt in on an official stock exchange or on a Regulated Market or any Other Regulated Market are valued at the last available prices at close of business of the relevant Valuation Day. In the event that any assets held in a SubFund s portfolio on the relevant day are not quoted or dealt in on any stock exchange or on any Regulated Market, or on any Other Regulated Market or if, with respect of assets quoted or dealt in on any stock exchange or dealt in on any such markets, the last available price (as determined pursuant to the previous paragraph) is not representative of the fair market value of the relevant assets, the value of such assets is based on a reasonably foreseeable sales price determined prudently and in good faith by the Board of Directors of the SICAV. n Openended and closedended UCIs Units or shares of openended UCIs 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 is determined prudently and in good faith by the Board of Directors of the SICAV. Units or shares of a closedended UCI are valued at their last available market value. n Forward foreign exchange contracts Forward foreign exchange contracts are valued at the forward rate applicable at the Statement of Net Assets date for the period until their maturity. Net unrealised gains and losses on forward foreign exchange contracts are recorded in the Statement of Net Assets. The SICAV also offers Hedged Share Class. All gain/(losses) on forward exchange contracts used for Hedged Share Classes are allocated solely to the relevant Share Class. n Financial futures contracts Financial futures contracts are valued at the quoted price available on an official stock exchange (following the pricing policy as described above under Valuation of Investments ). Initial margin deposits are made in cash upon entering into futures contracts. Subsequent payments, referred to as variation margins, are made or received by the SubFund periodically and are based on changes in the market value of open futures contracts. Net unrealised gains and losses on financial futures contracts are recorded in the Statement of Net Assets. When the contract is closed, the concerned SubFund records a realised gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the opening transaction. n Upfront premium Options contracts When the SubFund purchases an option contracts with an upfront premium, it pays a premium and an amount equal to that premium is recorded as an asset. When the SubFund writes an option with an upfront premium, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the options contracts. Options contracts which are quoted or dealt in on a stock exchange or on a Regulated Market or any Other Regulated Market are valued at the exchange quoted price (following the pricing policy described above under Valuation of Investments ). OTC options are markedtomarket based upon daily prices calculated by third party agents and verified against the value received from the counterparty. If the last known prices are not representative, the valuation will be based on the potential realisation value estimated by the Board of Directors of the SICAV with prudence and in good faith. If an option expires unexercised, the SubFund realises a gain or loss to the extent of the premium received or paid. Premiums received or paid, net unrealised gains and losses from options contracts are recorded in the Statement of Net Assets under the account balances Upfront premium Options contracts purchased at market value or Upfront premium Options contracts written at market value. n FuturesStyle Options contracts Futuresstyle options contracts are valued at the quoted price available on an official stock exchange (following the pricing policy as described above under Valuation of Investments ). Initial margin deposits are paid in cash upon entering into the contract. Subsequent positive or negative cashflows, referred to as variation margins, are paid or received by the SubFund periodically and are based on changes in the market value of open option contracts. When the contract is closed, the concerned SubFund records a realised gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the opening transaction. Net unrealised gains and losses on futuresstyle options contracts are recorded in the Statement of Net Assets. 19

20 Notes to the Financial Statements as at 30/06/18 n Swaps contracts SubFunds may enter into different types of swaps agreements such as interest rate swaps, swaptions, inflationlinked swaps, credit default swaps and total return swaps. Net unrealised gains and losses on swaps contracts are recorded in the Statement of Net Assets. Swaps contracts are valued at fair market value as determined in good faith pursuant to procedures established by the Board of Directors of the SICAV. Swaps contracts are markedtomarket at each Net Asset Valuation calculation date. The market value is based on the valuation of elements laid down in the contract, and it is obtained from third party agents, market makers or internal models, pursuant to the procedures established by the Board of Directors of the SICAV. n Combined financial statements The figures of each SubFund are presented in their respective Base Currency. The combined financial statements are expressed in euros and the sum of the SubFunds net assets which are in another currency are converted in euros at the exchange rates prevailing at period end. The combined financial statements are presented for information purposes only. 3 EXCHANGE RATES USED AS OF 30 JUNE 2018 Assets and liabilities expressed in currencies other than the Base Currency of the Fund are converted at exchange rates prevailing as at 30 June Transactions in foreign currencies are converted into the Base Currency of the Fund at exchange rates prevailing on the transaction dates. The exchange rates used as at 30 June 2018 are as follows: 1 = 1 = AUD JPY BRL MXN CAD NOK CHF NZD CNH PLN 3, COP RUB CZK SEK DKK SGD THB HKD TRY HUF , IDR ZAR ILS 4 MANAGEMENT, INVESTMENT MANAGEMENT AND DISTRIBUTION FEES The management fee is a percentage of the Net Asset Value of each SubFund, which ranges, according to the prospectus, from 0.50% to 2.25% p.a, depending on the relevant Share Class. The management fee rates effectively applied as at 30 June 2018 are as follows: SubFund Class A Class C Class E Class F Class H Class I Class R Amundi Fund Solutions Conservative 1.20% 1.20% 1.20% 1.80% * 0.55% 0.60% Amundi Fund Solutions Balanced 1.20% 1.20% 1.20% 1.80% * * 0.60% Amundi Fund Solutions Diversified Growth 1.40% * 1.40% 2.10% 0.85% * 0.70% Amundi Fund Solutions Diversified Income Best Select 1.50% * * * 0.85% 0.65% * * Not launched and/or not applicable The distribution fee is a percentage of the Net Asset Value of each SubFund, which ranges, according to the prospectus, from 0% to 1.50% p.a, depending on the relevant Share Class. The distribution fee rates effectively applied as at 30 June 2018 are as follows: SubFund Class A Class C Class E Class F Class H Class I Class R Amundi Fund Solutions Conservative 0.00% 1.00% 0.00% 0.00% * 0.00% 0.00% Amundi Fund Solutions Balanced 0.00% 1.00% 0.00% 0.00% * * 0.00% Amundi Fund Solutions Diversified Growth 0.00% * 0.00% 0.00% 0.00% * 0.00% Amundi Fund Solutions Diversified Income Best Select 0.00% * * * 0.00% 0.00% * * Not launched and/or not applicable 5 DEPOSITARY AND PAYING AGENT, ADMINISTRATOR, REGISTRAR AND TRANSFER AGENT The Depositary and Paying Agent, the Administrator and the Registrar and Transfer Agent receive out of the assets of the relevant SubFund, a fee for their services as detailed below. n Depositary and Paying Agent: The fee is a percentage of portfolio value at each month end of the SubFund. It ranges from 0.003% to 0.50% p.a. depending on where the assets of the relevant SubFund are held. The fee is calculated and accrued on each Valuation Day and is payable monthly in arrears. n Administrator: The fee for the main services provided, amounts to an annual rate of 0.01%, is calculated and accrued on each Valuation Day on the basis of the Net Asset Value of the relevant SubFund. It is payable monthly in arrears. n Registrar and Transfer Agent: The main components of the compensation for the services provided are the number of the existing active share Classes, the number of clients accounts and the number of transactions processed. 20

21 Notes to the Financial Statements as at 30/06/18 6 TAXATION OF THE FUND TAXE D ABONNEMENT In accordance with the legislation currently prevailing in Luxembourg, the SICAV is not subject to any taxes on income or capital gains. The Sicav is subject to a subscription tax Taxe d abonnement, which amounts to an annual rate of 0.05% based on the Net Asset Value of each SubFund at the end of each calendar quarter, calculated and paid quarterly. However, this tax is reduced to 0.01% for Net Asset Value related to share classes only aimed at eligible institutional investors and for SubFunds whose sole object is collective investment in money market instruments and in deposits with credit institutions. Pursuant to Article 175 (a) of the amended law of 17 December 2010, the net asset invested in UCIs already subject to Taxe d'abonnement is exempted from this tax. Interest and dividend income received by the SICAV may be subject to nonrecoverable withholding tax in the countries of origin. 21

22 Notes to the Financial Statements as at 30/06/18 7 OPEN POSITIONS ON FUTURES CONTRACTS As at 30 June 2018, certain subfunds had the following positions on futures contracts: n Amundi Fund Solutions Conservative Number of contracts Purchase/Sale Description Maturity date Currency Unrealised appreciation / depreciation in 92 AUST 3YR BOND FUT AUD 24, O BUND , O SCHATZ , O STOXX BANKS , O STOXX , OOAT FUTURES , FTSE 100 INDEX , HSCEI FUTURES HKD 4, JAPANESE 10Y BOND JPY 5, MINI MSCI EMG MKT , MSCI WORLD NTR INDEX , NIKKEI 225 (SGX) JPY 19, S&P 500 EMINI , S&P/TSE 60 IX FUT CAD 6, STOXX OP 600 FUT , STOXX 600 BASIC RES , US 10 YR NOTE FUTURE , US 10YR ULTRA T NOTE , US 2 YR NOTE FUTURE , , n Amundi Fund Solutions Balanced Number of contracts Purchase/Sale Description Maturity date Currency Unrealised appreciation / depreciation in 35 O BUND , O SCHATZ , O STOXX BANKS , O STOXX INDEX FUT , O STOXX , OOAT FUTURES , FTSE 100 INDEX , HSCEI FUTURES HKD 5, JAPANESE 10Y BOND JPY 3, MINI MSCI EMG MKT , MSCI WORLD NTR INDEX , S&P 500 EMINI , S&P/TSE 60 IX FUT CAD 7, STOXX OP 600 FUT , STOXX 600 BASIC RES , US 10 YR NOTE FUTURE , US 10YR ULTRA T NOTE , US 2 YR NOTE FUTURE , , n Amundi Fund Solutions Diversified Growth Number of contracts Purchase/Sale Description Maturity date Currency Unrealised appreciation / depreciation in 8 DOW JONES MINI , O BUND , O SCHATZ , O STOXX BANKS , O STOXX INDEX FUT , O STOXX , OOAT FUTURES , FTSE 100 INDEX ,