Eurizon Manager Selection Fund

Eurizon Manager Selection Fund 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 2017 R.C.S. Luxembourg K690

Eurizon Manager Selection Fund Table of contents Organisation of the Fund 3 Comparative Net Asset Values over the last three years/periods 7 Combined Statement of Net Assets 8 Combined Statement of Changes in Net Assets 9 Eurizon Manager Selection Fund - MS 10 10 Statement of Net Assets 10 Statement of Changes in Net Assets 11 Portfolio 12 Commitments on future contracts 14 Forward foreign exchange contracts 15 Eurizon Manager Selection Fund - MS 20 16 Statement of Net Assets 16 Statement of Changes in Net Assets 17 Portfolio 18 Commitments on future contracts 21 Forward foreign exchange contracts 22 Eurizon Manager Selection Fund - MS 40 23 Statement of Net Assets 23 Statement of Changes in Net Assets 24 Portfolio 25 Commitments on future contracts 28 Forward foreign exchange contracts 29 Eurizon Manager Selection Fund - MS 70 30 Statement of Net Assets 30 Statement of Changes in Net Assets 31 Portfolio 32 Commitments on future contracts 35 Forward foreign exchange contracts 36 Notes to the financial statements 37 2

ORGANISATION OF THE FUND Eurizon Manager Selection Fund 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 28536 BOARD OF DIRECTORS OF THE MANAGEMENT COMPANY Chairman of the Board of Directors Mr. Tommaso CORCOS Managing Director of Eurizon Capital SGR S.p.A., Milan Resident in Milan (Italy) Vice-Chairman of the Board of Directors Mr. Daniel GROS Vice Chairman of Eurizon Capital SGR S.p.A., Milan Resident in Brussels (Belgium) Managing Director Mr. Bruno ALFIERI General Manager of Eurizon Capital S.A., Luxembourg Resident in Luxembourg (Grand Duchy of Luxembourg) Director Mr. Marco BUS Co-General Manager of Eurizon Capital S.A., Luxembourg Resident in Luxembourg (Grand Duchy of Luxembourg) Director Mr. Massimo MAZZINI Head of Marketing and Business Development of Eurizon Capital SGR S.p.A., Milan Resident in Milan (Italy) Director Mr. Claudio SOZZINI Independent Director Resident in Milan (Italy) MANAGEMENT COMPANY S CONDUCTING OFFICERS Director Mr. Paul HELMINGER Independent Director, Lawyer, Resident in Luxembourg (Grand Duchy of Luxembourg) Mr. Bruno ALFIERI General Manager of Eurizon Capital S.A., Luxembourg Resident in Luxembourg (Grand Duchy of Luxembourg) Mr. Marco BUS Co-General Manager of Eurizon Capital S.A., Luxembourg Resident in Luxembourg (Grand Duchy of Luxembourg) Mr. Jérôme DEBERTOLIS Resident in Luxembourg (Grand Duchy of Luxembourg) 3

ORGANISATION OF THE FUND Eurizon Manager Selection Fund DEPOSITARY BANK AND PAYING AGENT LOCAL PAYING AGENTS State Street Bank Luxembourg S.C.A. 49, avenue J.F. Kennedy L-1855 Luxembourg (Grand Duchy of Luxembourg) Italy: State Street Bank GmbH Branch Italy 10, via Ferrante Aporti I-20125 Milan (Italy) ALLFUNDS Bank S.A., (acting through its Italian Branch) 7, via Santa Margherita I-20121 Milan (Italy) CACEIS Bank Luxembourg Italian Branch 2, Piazza Cavour I-20121 Milan (Italy) ADMINISTRATIVE AGENT, REGISTRAR AND TRANSFER AGENT INVESTMENT MANAGER State Street Bank Luxembourg S.C.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-20121 Milan (Italy) INDEPENDENT AUDITOR OF THE INVESTMENT FUND (this function has been delegated by Eurizon Capital S.A.) KPMG Luxembourg, Société coopérative 39, avenue J.F. Kennedy L-1855 Luxembourg (Grand Duchy of Luxembourg) 4

ORGANISATION OF THE FUND Eurizon Manager Selection Fund CONSTITUTION Eurizon Manager Selection Fund (the Fund ) was created in the Grand Duchy of Luxembourg on 6 April 2006 in the form of a mutual investment fund in transferable securities governed by the Law of Luxembourg, and is currently subject to Part I of the Law of 17 December 2010 on undertakings for collective investment ( UCI ). 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 signed by Sanpaolo Bank S.A., the Custodian Bank at that date, on 6 April 2006. They were filed with the Registre de Commerce et des Sociétés in Luxembourg on 12 April 2006 and have been published in the Mémorial, Recueil des Sociétés et Associations on 18 April 2006. Amendments were made to the Management Regulations and the notification of the filing with the Registre de Commerce et des Sociétés in Luxembourg were published in the Mémorial, Recueil des Sociétés et Associations on 14 May 2007, on 7 October 2008, on 5 August 2009, on 9 August 2010 and on 31 October 2011. The notification of the filing with the Registre de Commerce et des Sociétés in Luxembourg of the latest modifications to the Management Regulations were published in the Mémorial, Recueil des Sociétés et Associations on 18 June 2012, on 3 February 2014 and on 29 February 2016. The Management Regulations in force have been filed with the Registre de Commerce et des Sociétés in Luxembourg, where they may be consulted, and copies can be obtained. The Fund has been established for an indefinite period. The Management Company has decided to modify the Fund s name from Sanpaolo Manager Selection Fund to Eurizon Manager Selection Fund with effective date 14 July 2009. On the same date the Sub-Funds SMS Sanpaolo Manager Selection 10, SMS Sanpaolo Manager Selection 20, SMS Sanpaolo Manager Selection 40, SMS Sanpaolo Manager Selection 70, respectively changed their name for Eurizon Manager Selection Fund - MS 10, Eurizon Manager Selection Fund - MS 20, Eurizon Manager Selection Fund - MS 40, Eurizon Manager Selection Fund - MS 70. The Fund is an umbrella fund. The Sub-Funds which are active on 30 September 2017 are listed below: Eurizon Manager Selection Fund - MS 10, Eurizon Manager Selection Fund - MS 20, Eurizon Manager Selection Fund - MS 40, Eurizon Manager Selection Fund - MS 70. All the Sub-Funds were launched on 3 July 2006. The Units which are available to investors for the different Sub-Funds are detailed in note 8 Units of the Fund of the notes to the financial statements. GENERAL MEETING The Annual General Meeting of the Management Company takes place every year at the registered office, or at any other location in Luxembourg specified in the convening notice within six months of the end of each financial year. 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 to the 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. GLOBAL RISK EXPOSURE The method used to calculate the global risk exposure is the commitment approach. 5

ORGANISATION OF THE FUND Eurizon Manager Selection Fund REMUNERATION POLICY (UNAUDITED) The Management Company, Eurizon Capital S.A., has implemented a remuneration policy pursuant to Directive 2014/91/EU of the European Parliament and of the Council of 23 July 2014 amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards to depositary functions, remuneration policies and sanctions (the UCITS V Directive ), which was transposed into Luxembourg law on 1 June 2016 by way of the Luxembourg law of 10 May 2016. The remuneration policy, which has been approved by the Management Company s board of directors, includes measures to avoid conflicts of interest and seeks to promote sound and effective risk management and that neither encourage risk taking which is inconsistent with the risk profile and articles of incorporation of the Company nor impair compliance with the Company s duty to act in the best interest of the Company. The remuneration policy, which describes how remuneration and benefits are determined, is available at www.eurizoncapital.lu, or on request from the Management Company. As at the end of the Fund s financial year on 31 March 2017, the Management Company had not completed its first annual performance period in which it has to comply with the UCITS V remuneration rules. As a result, the aggregate amount of remuneration broken down by category of employees or other staff members as well as the other information that is required by the UCITS V Directive to be disclosed in the annual report is not yet available and had not been included in the annual report. 6

Eurizon Manager Selection Fund COMPARATIVE NET ASSET VALUES OVER THE LAST THREE YEARS/PERIODS 30 September 2017 31 March 2017 31 March 2016 Currency Total NAV per Unit Total NAV per Unit Total NAV per Unit Eurizon Manager Selection Fund - MS 10 Class R Units EUR 98 229 382,02 150,98 98 712 410,90 149,96 103 958 963,25 147,08 Total net assets EUR 98 229 382,02 98 712 410,90 103 958 963,25 Eurizon Manager Selection Fund - MS 20 Class R Units EUR 1 122 446 143,09 151,90 1 141 769 097,98 151,42 1 112 730 870,19 145,50 Total net assets EUR 1 122 446 143,09 1 141 769 097,98 1 112 730 870,19 Eurizon Manager Selection Fund - MS 40 Class R Units EUR 488 056 657,61 148,42 476 191 837,68 149,40 437 638 656,59 140,50 Total net assets EUR 488 056 657,61 476 191 837,68 437 638 656,59 Eurizon Manager Selection Fund - MS 70 Class R Units EUR 186 486 313,97 164,30 175 279 612,45 166,23 149 704 800,19 147,38 Total net assets EUR 186 486 313,97 175 279 612,45 149 704 800,19 7

Eurizon Manager Selection Fund COMBINED STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2017 IN EUR Assets Notes Investments in securities (Note 2) 1 886 860 585,38 Banks 10 345 007,67 Amounts due from brokers (Notes 2, 7) 567 369,07 Unrealised profit on forward foreign exchange contracts (Notes 2, 7) 111 686,00 Unrealised profit on future contracts (Notes 2, 7) 1 337 551,15 Other interest receivable 1 197 312,15 Receivable on investments sold 21 267 831,82 Receivable on subscriptions 3 971 647,50 Other assets 806 841,86 Total assets 1 926 465 832,60 Liabilities Bank overdrafts (658,23) Unrealised loss on forward foreign exchange contracts (Notes 2, 7) (77 084,51) Unrealised loss on future contracts (Notes 2, 7) (62 923,05) Payable on investments purchased (21 664 799,06) Payable on redemptions (6 575 322,94) Other liabilities (2 866 548,12) Total liabilities (31 247 335,91) Total net assets 1 895 218 496,69 8

Eurizon Manager Selection Fund COMBINED STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2017 IN EUR Net assets at the beginning of the period Notes 1 891 952 959,01 Net income from investments (Note 2) 2 947 170,17 Other income (Note 5) 1 572 381,49 Total income 4 519 551,66 Management fee (Note 5) (13 728 063,50) Depositary and paying agent fee (Note 6) (500 726,09) Subscription tax (Note 3) (142 252,81) Other charges and taxes (Notes 4, 6) (1 357 492,23) Total expenses (15 728 534,63) Net investment income / (loss) (11 208 982,97) Net realised profit / (loss) on sales of investments, currencies and other financial instruments (Notes 2, 7) 30 198 474,08 Change in unrealised appreciation / (depreciation) on - investments (Note 2) (21 645 626,51) - forward foreign exchange contracts (Notes 2, 7) 37 302,23 - foreign currencies (32 212,43) - future contracts (Notes 2, 7) 1 466 288,17 Net result of operations for the period (1 184 757,43) Subscriptions for the period 394 218 820,15 Redemptions for the period (389 768 525,04) Net assets at the end of the period 1 895 218 496,69 9

Eurizon Manager Selection Fund - MS 10 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2017 IN EUR Assets Notes Investments in securities (Note 2) 98 066 337,18 Banks 279 290,27 Amounts due from brokers (Notes 2, 7) 51 064,64 Unrealised profit on forward foreign exchange contracts (Notes 2, 7) 2 508,75 Unrealised profit on future contracts (Notes 2, 7) 40 285,86 Other interest receivable 64 935,71 Receivable on investments sold 550 971,53 Receivable on subscriptions 75 637,35 Other assets 37 603,83 Total assets 99 168 635,12 Liabilities Unrealised loss on forward foreign exchange contracts (Notes 2, 7) (3 620,34) Unrealised loss on future contracts (Notes 2, 7) (6 283,05) Payable on investments purchased (546 423,06) Payable on redemptions (236 705,55) Other liabilities (146 221,10) Total liabilities (939 253,10) Total net assets 98 229 382,02 Currency Net Asset Value per Unit Units outstanding Class R Units EUR 150,98 650 615,597 10

Eurizon Manager Selection Fund - MS 10 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2017 IN EUR Net assets at the beginning of the period Notes 98 712 410,90 Net income from investments (Note 2) 142 882,85 Other income (Note 5) 74 589,85 Total income 217 472,70 Management fee (Note 5) (587 499,57) Depositary and paying agent fee (Note 6) (25 529,74) Subscription tax (Note 3) (7 750,08) Other charges and taxes (Notes 4, 6) (77 510,94) Total expenses (698 290,33) Net investment income / (loss) (480 817,63) Net realised profit / (loss) on sales of investments, currencies and other financial instruments (Notes 2, 7) 1 525 140,80 Change in unrealised appreciation / (depreciation) on - investments (Note 2) (421 784,19) - forward foreign exchange contracts (Notes 2, 7) 4 118,40 - foreign currencies (5 472,87) - future contracts (Notes 2, 7) 41 647,81 Net result of operations for the period 662 832,32 Subscriptions for the period 11 751 033,10 Redemptions for the period (12 896 894,30) Net assets at the end of the period 98 229 382,02 11

Eurizon Manager Selection Fund - MS 10 PORTFOLIO AS AT 30 SEPTEMBER 2017 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value %of Net Assets PORTFOLIO 80 865 009,80 98 066 337,18 99,83 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING 12 829 503,63 13 256 093,34 13,49 Ordinary Bonds 10 067 356,36 10 497 858,34 10,68 ITALY 7 008 193,49 7 230 679,67 7,36 Government 7 008 193,49 7 230 679,67 7,36 1 800 000,00 BTP 0.10% 15/04/2019 EUR 1 796 310,00 1 809 378,00 1,84 1 250 000,00 BTP 4.50% 01/03/2024 EUR 1 348 388,89 1 489 875,00 1,52 1 000 000,00 BTP 1.45% 15/11/2024 EUR 992 600,00 991 100,00 1,01 675 000,00 BTP 4.75% 01/09/2044 EUR 767 331,14 856 372,50 0,87 600 786,00 BTP 1.65% 23/04/2020 EUR 642 061,71 635 211,04 0,65 485 829,35 BTP 0.50% 20/04/2023 EUR 485 829,35 492 145,13 0,50 400 000,00 BTP 3.50% 01/12/2018 EUR 439 744,00 417 732,00 0,42 340 000,00 BTP 1.35% 15/04/2022 EUR 341 700,00 349 520,00 0,36 170 000,00 BTP 3.50% 01/03/2030 EUR 194 228,40 189 346,00 0,19 SPAIN 1 261 884,08 1 458 205,35 1,48 Government 1 261 884,08 1 458 205,35 1,48 660 000,00 SPAIN GOVERNMENT BOND 3.80% 30/04/2024 EUR 711 049,14 787 155,60 0,80 525 000,00 SPAIN GOVERNMENT BOND 4.20% 31/01/2037 EUR 550 834,94 671 049,75 0,68 PORTUGAL 794 964,29 844 204,12 0,86 Government 794 964,29 844 204,12 0,86 798 098,00 PORTUGAL OBRIGACOES DO TESOURO OT 2.875% 21/07/2026 EUR 794 964,29 844 204,12 0,86 FRANCE 673 607,00 639 019,20 0,65 Government 673 607,00 639 019,20 0,65 480 000,00 FRANCE REPUBLIC GOVERNMENT BOND OAT 3.25% 25/05/2045 EUR 673 607,00 639 019,20 0,65 GERMANY 328 707,50 325 750,00 0,33 Government 328 707,50 325 750,00 0,33 250 000,00 BUNDESREPUBLIK DEUTSCHLAND 2.50% 15/08/2046 EUR 328 707,50 325 750,00 0,33 Floating Rate Notes 2 762 147,27 2 758 235,00 2,81 ITALY 2 762 147,27 2 758 235,00 2,81 Government 2 762 147,27 2 758 235,00 2,81 1 450 000,00 CCT FRN 15/11/2019 EUR 1 478 547,27 1 485 235,00 1,51 1 250 000,00 CCT FRN 15/12/2020 EUR 1 283 600,00 1 273 000,00 1,30 INVESTMENT FUNDS 68 035 506,17 84 810 243,84 86,34 UCI Units 68 035 506,17 84 810 243,84 86,34 LUXEMBOURG 54 926 033,21 69 298 770,79 70,55 Finance 54 926 033,21 69 298 770,79 70,55 90 717,61 GENERALI INVESTMENTS SICAV - EURO SHORT TERM BOND -B- EUR 11 239 658,92 12 122 776,06 12,34 45 310,47 EURIZON FUND - BOND EUR LONG TERM LTE -Z- EUR 9 619 941,05 11 607 183,10 11,82 44 694,13 EURIZON FUND - BOND HIGH YIELD -Z- EUR 6 435 389,76 11 328 620,62 11,53 27 327,05 EURIZON FUND - BOND EMERGING MARKETS -ZH- EUR 6 881 356,75 10 884 638,08 11,08 17 759,19 EURIZON FUND - BOND EUR MEDIUM TERM LTE -Z- EUR 5 846 183,92 6 672 836,92 6,79 42 239,10 EURIZON FUND - TREASURY EUR T1 -Z- EUR 4 218 482,51 4 216 306,86 4,29 21 242,73 EURIZON FUND - BOND EUR SHORT TERM LTE -Z- EUR 3 060 600,63 3 301 545,41 3,36 31 968,49 NORDEA 1 SICAV - EUROPEAN HIGH YIELD BOND FUND -BI- EUR 999 999,99 1 138 078,24 1,16 12

Eurizon Manager Selection Fund - MS 10 PORTFOLIO AS AT 30 SEPTEMBER 2017 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value %of Net Assets 3 182,00 ROBECO CAPITAL GROWTH FUNDS - US SELECT OPPORTUNITIES USD 542 106,64 687 809,11 0,70 EQUITIES -I- 5 967,74 NATIXIS INTERNATIONAL FUNDS LUX I - HARRIS ASSOCIATES US USD 648 958,54 653 514,36 0,67 EQUITY FUND 2 498,06 PARVEST - EQUITY USA GROWTH -I- USD 368 539,68 621 746,22 0,63 1 494,81 PICTET - PACIFIC EX JAPAN INDEX -IS- USD 369 824,70 527 128,09 0,54 4 286,31 VONTOBEL FUND - EMERGING MARKETS DEBT -H- EUR 499 999,79 522 544,05 0,53 18 905,00 AB SICAV I - SELECT US EQUITY PORTFOLIO -I- USD 413 893,35 505 327,73 0,52 2 498,46 UBS LUX EQUITY SICAV - USA GROWTH USD -Q- USD 302 757,23 502 608,35 0,51 505,29 VONTOBEL FUND - US EQUITY -B- USD 381 087,84 488 140,43 0,50 118 258,80 ABERDEEN GLOBAL - JAPANESE EQUITY FUND -A2- JPY 422 331,89 441 624,81 0,45 4 040,81 EURIZON FUND - SLJ EMERGING LOCAL MARKET DEBT -ZE- EUR 399 999,98 396 686,51 0,40 106,49 ALLIANZ EUROPE EQUITY GROWTH -IT- EUR 227 475,03 309 498,85 0,32 992,49 VONTOBEL FUND - EUROPEAN EQUITY -B- EUR 236 894,61 290 798,98 0,30 7 092,43 MFS MERIDIAN FUNDS - EUROPEAN VALUE FUND -A1- EUR 210 147,23 283 342,62 0,29 6 558,61 BLACKROCK GLOBAL FUNDS - EUROPEAN SPECIAL SITUATIONS EUR 254 174,27 276 117,48 0,28 FUND -A2-. 3 822,42 NORDEA 1 SICAV - EUROPEAN VALUE FUND -BI- EUR 224 108,25 259 465,60 0,26 13 510,58 INVESCO PAN EUROPEAN STRUCTURED EQUITY FUND -A- EUR 152 145,65 255 755,28 0,26 2 054,87 AB FCP I - EUROPEAN EQUITY PORTFOLIO -S1- EUR 205 733,98 216 234,39 0,22 32 015,93 HENDERSON GARTMORE FUND - PAN EUROPEAN FUND -R- EUR 202 949,00 207 940,28 0,21 17,63 EXANE EQUITY SELECT EUROPE -S- EUR 202 755,90 204 883,89 0,21 5 909,59 MFS MERIDIAN FUNDS - EUROPEAN RESEARCH FUND -A1- EUR 184 438,30 204 294,53 0,21 1 743,98 EURIZON FUND - BOND EMERGING MARKETS IN LOCAL EUR 173 731,15 170 909,94 0,17 CURRENCIES -Z- 20,00 INVESCO PAN EUROPEAN EQUITY FUND -A- EUR 366,67 414,00 0,00 FRANCE 8 104 866,08 10 355 170,00 10,54 Finance 8 104 866,08 10 355 170,00 10,54 53 060,00 MULTI UNITS FRANCE - LYXOR ETF EUROMTS GLOBAL EUR 7 108 847,98 9 359 784,00 9,53 INVESTMENT GRADE EUR 9 800,00 AMUNDI ETF FLOATING RATE EURO CORPORATE 1-3 UCITS ETF -C- EUR 996 018,10 995 386,00 1,01 IRELAND 5 004 606,88 5 156 303,05 5,25 Finance 5 004 606,88 5 156 303,05 5,25 9 000,00 ISHARES CORE EUR GOVT BOND UCITS ETF EUR DIST EUR 1 088 220,00 1 097 280,00 1,12 35 515,52 POLAR CAPITAL NORTH AMERICAN FUND -I- USD 591 511,69 679 247,46 0,69 65 570,24 AXA ROSENBERG EQUITY ALPHA TRUST - US ENHANCED INDEX USD 570 614,03 645 053,52 0,66 EQUITY ALPHA FUND -I- 49 921,65 OLD MUTUAL NORTH AMERICAN EQUITY FUND -I- USD 626 665,70 635 295,78 0,65 3 782,17 NOMURA FUNDS IRELAND - JAPAN STRATEGIC VALUE FUND -A- JPY 570 042,94 585 035,50 0,59 12 707,00 ISHARES MSCI NORTH AMERICA UCITS ETF USD DIST EUR 493 917,28 510 757,87 0,52 769,64 VANGUARD INVESTMENT SERIES PLC - US OPPORTUNITIES FUND USD 503 252,88 502 691,72 0,51 -INST- 3 987,00 SPDR BARCLAYS EMERGING MARKETS LOCAL BOND UCITS ETF EUR 282 403,28 253 573,20 0,26 4 400,00 ISHARES EMERGING MARKETS LOCAL GOVERNMENT BOND UCITS ETF EUR 277 979,08 247 368,00 0,25 Total Portfolio 80 865 009,80 98 066 337,18 99,83 13

Eurizon Manager Selection Fund - MS 10 COMMITMENTS ON FUTURE CONTRACTS AS AT 30 SEPTEMBER 2017 Size Quantity Purchase / Sale Description Maturity Currency Unrealised profit / (loss) (EUR) Commitment (EUR) Total Unrealised profit / (loss) on future contracts and commitment 34 002,81 6 516 171,29 Unrealised profit on future contracts and commitment 40 285,86 3 455 521,29 10 30 Purchase EURO STOXX 50 15/12/2017 EUR 17 700,00 1 072 800,00 10 000 6 Purchase TOPIX INDEX 07/12/2017 JPY 10 144,74 755 217,35 50 5 Purchase RUSSELL 2000 MINI 15/12/2017 USD 8 541,12 315 703,94 100 000 (10) Sale EURO BOBL 07/12/2017 EUR 3 900,00 1 311 800,00 Unrealised loss on future contracts and commitment (6 283,05) 3 060 650,00 100 000 (5) Sale EURO BUND 07/12/2017 EUR (3 283,05) 805 050,00 100 000 (20) Sale SHORT EURO BTP 07/12/2017 EUR (3 000,00) 2 255 600,00 14

Eurizon Manager Selection Fund - MS 10 FORWARD FOREIGN EXCHANGE CONTRACTS AS AT 30 SEPTEMBER 2017 Maturity Purchase commitment in currency Sale commitment in currency Unrealised profit/(loss) (EUR) Total Unrealised profit / (loss) on forward foreign exchange contracts (1 111,59) Unrealised profit on forward foreign exchange contracts 2 508,75 14/12/2017 379 032,08 EUR 570 000,00 AUD 2 508,75 Unrealised loss on forward foreign exchange contracts (3 620,34) 14/12/2017 350 000,00 CAD 239 522,60 EUR (3 620,34) 15

Eurizon Manager Selection Fund - MS 20 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2017 IN EUR Assets Notes Investments in securities (Note 2) 1 120 126 446,91 Banks 5 311 998,02 Amounts due from brokers (Notes 2, 7) 261 928,98 Unrealised profit on forward foreign exchange contracts (Notes 2, 7) 87 390,76 Unrealised profit on future contracts (Notes 2, 7) 509 518,25 Other interest receivable 699 747,23 Receivable on investments sold 7 553 408,39 Receivable on subscriptions 2 338 743,32 Other assets 486 710,65 Total assets 1 137 375 892,51 Liabilities Bank overdrafts (246,83) Unrealised loss on forward foreign exchange contracts (Notes 2, 7) (20 687,64) Unrealised loss on future contracts (Notes 2, 7) (30 000,00) Payable on investments purchased (8 919 397,27) Payable on redemptions (4 300 609,14) Other liabilities (1 658 808,54) Total liabilities (14 929 749,42) Total net assets 1 122 446 143,09 Currency Net Asset Value per Unit Units outstanding Class R Units EUR 151,90 7 389 434,705 16

Eurizon Manager Selection Fund - MS 20 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2017 IN EUR Net assets at the beginning of the period Notes 1 141 769 097,98 Net income from investments (Note 2) 1 836 721,34 Other income (Note 5) 926 564,95 Total income 2 763 286,29 Management fee (Note 5) (8 006 333,86) Depositary and paying agent fee (Note 6) (298 875,86) Subscription tax (Note 3) (87 782,55) Other charges and taxes (Notes 4, 6) (799 317,27) Total expenses (9 192 309,54) Net investment income / (loss) (6 429 023,25) Net realised profit / (loss) on sales of investments, currencies and other financial instruments (Notes 2, 7) 10 399 784,45 Change in unrealised appreciation / (depreciation) on - investments (Note 2) (1 232 989,33) - forward foreign exchange contracts (Notes 2, 7) 144 211,98 - foreign currencies (6 765,32) - future contracts (Notes 2, 7) 651 189,19 Net result of operations for the period 3 526 407,72 Subscriptions for the period 206 274 917,97 Redemptions for the period (229 124 280,58) Net assets at the end of the period 1 122 446 143,09 17

Eurizon Manager Selection Fund - MS 20 PORTFOLIO AS AT 30 SEPTEMBER 2017 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value %of Net Assets PORTFOLIO 1 013 915 232,03 1 120 126 446,91 99,79 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING 154 735 597,79 158 339 678,25 14,10 Ordinary Bonds 119 651 115,81 123 207 008,25 10,97 ITALY 81 890 016,76 83 817 084,09 7,47 Government 81 890 016,76 83 817 084,09 7,47 12 360 000,00 BTP 4.50% 01/03/2024 EUR 14 485 183,38 14 731 884,00 1,31 10 000 000,00 BTP 0.10% 15/04/2019 EUR 9 979 500,00 10 052 100,00 0,90 7 920 000,00 BTP 4.75% 01/09/2044 EUR 8 824 790,79 10 048 104,00 0,90 8 500 000,00 BTP 0.35% 01/11/2021 EUR 8 357 815,00 8 449 850,00 0,75 7 372 585,60 BTP 0.50% 20/04/2023 EUR 7 372 585,60 7 468 429,21 0,67 5 700 000,00 BTP 1.45% 15/11/2024 EUR 5 657 820,00 5 649 270,00 0,50 5 006 550,00 BTP 1.65% 23/04/2020 EUR 5 350 514,27 5 293 425,32 0,47 4 000 000,00 BTP 3.50% 01/03/2030 EUR 4 254 400,00 4 455 200,00 0,40 4 300 000,00 BTP 1.35% 15/04/2022 EUR 4 412 972,72 4 420 400,00 0,39 3 700 000,00 BTP 1.45% 15/09/2022 EUR 3 707 400,00 3 806 930,00 0,34 3 000 000,00 BTP 2.00% 01/12/2025 EUR 3 138 600,00 3 043 800,00 0,27 2 700 000,00 BTP 1.50% 01/08/2019 EUR 2 712 150,00 2 783 430,00 0,25 2 500 000,00 BTP 2.50% 01/05/2019 EUR 2 638 825,00 2 608 000,00 0,23 1 000 260,00 BTP 2.15% 12/11/2017 EUR 997 460,00 1 006 261,56 0,09 SPAIN 16 945 904,47 18 364 936,00 1,63 Government 16 945 904,47 18 364 936,00 1,63 7 100 000,00 SPAIN GOVERNMENT BOND 3.80% 30/04/2024 EUR 8 038 743,35 8 467 886,00 0,75 5 500 000,00 SPAIN GOVERNMENT BOND 1.45% 31/10/2027 EUR 5 402 595,00 5 423 385,00 0,48 3 500 000,00 SPAIN GOVERNMENT BOND 4.20% 31/01/2037 EUR 3 504 566,12 4 473 665,00 0,40 PORTUGAL 9 773 440,58 10 378 828,66 0,92 Government 9 773 440,58 10 378 828,66 0,92 9 811 990,00 PORTUGAL OBRIGACOES DO TESOURO OT 2.875% EUR 9 773 440,58 10 378 828,66 0,92 21/07/2026 FRANCE 7 754 679,00 7 388 659,50 0,66 Government 7 754 679,00 7 388 659,50 0,66 5 550 000,00 FRANCE REPUBLIC GOVERNMENT BOND OAT 3.25% EUR 7 754 679,00 7 388 659,50 0,66 25/05/2045 GERMANY 3 287 075,00 3 257 500,00 0,29 Government 3 287 075,00 3 257 500,00 0,29 2 500 000,00 BUNDESREPUBLIK DEUTSCHLAND 2.50% 15/08/2046 EUR 3 287 075,00 3 257 500,00 0,29 Floating Rate Notes 35 084 481,98 35 132 670,00 3,13 ITALY 35 084 481,98 35 132 670,00 3,13 Government 35 084 481,98 35 132 670,00 3,13 17 500 000,00 CCT FRN 15/12/2020 EUR 17 868 780,00 17 822 000,00 1,59 16 900 000,00 CCT FRN 15/11/2019 EUR 17 215 701,98 17 310 670,00 1,54 18

Eurizon Manager Selection Fund - MS 20 PORTFOLIO AS AT 30 SEPTEMBER 2017 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value %of Net Assets INVESTMENT FUNDS 859 179 634,24 961 786 768,66 85,69 UCI Units 859 179 634,24 961 786 768,66 85,69 LUXEMBOURG 698 582 017,48 784 507 094,94 69,89 Finance 698 582 017,48 784 507 094,94 69,89 552 187,23 EURIZON FUND - BOND HIGH YIELD -Z- EUR 111 184 140,26 139 962 897,44 12,47 315 145,16 EURIZON FUND - BOND EMERGING MARKETS -ZH- EUR 104 933 648,09 125 525 469,87 11,18 999 215,56 EURIZON FUND - TREASURY EUR T1 -Z- EUR 99 919 385,69 99 741 697,50 8,89 313 020,49 EURIZON FUND - BOND EUR LONG TERM LTE -Z- EUR 74 404 291,42 80 186 458,15 7,14 142 394,17 EURIZON FUND - BOND EUR MEDIUM TERM LTE -Z- EUR 51 346 254,51 53 503 186,56 4,77 322 681,98 GENERALI INVESTMENTS SICAV - EURO SHORT TERM BOND EUR 41 767 535,93 43 120 638,48 3,84 -B- 349 138,55 EPSILON FUND - EURO CASH -I- EUR 38 820 593,42 38 754 379,38 3,45 77 511,19 EURIZON FUND - BOND EUR SHORT TERM LTE -Z- EUR 11 833 459,44 12 046 789,46 1,07 33 891,93 PICTET - PACIFIC EX JAPAN INDEX -IS- USD 9 868 541,73 11 951 626,08 1,06 784 500,83 FIDELITY FUNDS - AMERICAN GROWTH FUND -Y- USD 10 288 807,92 11 301 011,72 1,01 54 195,87 UBS LUX EQUITY SICAV - USA GROWTH USD -Q- USD 7 840 852,05 10 902 443,92 0,97 40 415,21 PARVEST - EQUITY USA GROWTH -I- USD 7 044 010,66 10 059 023,72 0,90 43 790,79 ROBECO CAPITAL GROWTH FUNDS - US SELECT USD 7 153 107,02 9 465 661,08 0,84 OPPORTUNITIES EQUITIES -I- 9 722,61 VONTOBEL FUND - US EQUITY -B- USD 7 360 824,64 9 392 661,30 0,84 530 191,71 JPMORGAN FUNDS - HIGHBRIDGE US STEEP -A- USD 7 725 407,57 9 077 216,86 0,81 228 425,22 NORDEA 1 SICAV - EUROPEAN HIGH YIELD BOND FUND -BI- EUR 7 142 268,79 8 131 937,94 0,72 273 049,55 AB SICAV I - SELECT US EQUITY PORTFOLIO -I- USD 5 628 619,68 7 298 570,57 0,65 673 708,71 PRIVILEDGE - DELAWARE US LARGE CAP VALUE -U- USD 7 136 361,74 7 125 632,98 0,64 48 022,75 VONTOBEL FUND - EMERGING MARKETS DEBT -H- EUR 5 500 000,03 5 854 453,21 0,52 51 692,23 EURIZON FUND - BOND EMERGING MARKETS IN LOCAL EUR 4 933 257,21 5 065 838,05 0,45 CURRENCIES -Z- 16 702,50 VONTOBEL FUND - EUROPEAN EQUITY -B- EUR 4 101 128,19 4 893 831,62 0,44 28 324,57 JPMORGAN FUNDS - US VALUE FUND -I ACC- USD 4 694 397,61 4 680 912,61 0,42 45 129,79 JPMORGAN FUNDS - JAPAN EQUITY FUND -A- EUR 4 526 399,92 4 520 651,36 0,40 110 415,29 MFS MERIDIAN FUNDS - EUROPEAN VALUE FUND -A1- EUR 3 128 718,56 4 411 090,68 0,39 1 161 759,78 ABERDEEN GLOBAL - JAPANESE EQUITY FUND -A2- JPY 3 711 521,96 4 338 467,27 0,39 38 586,29 NATIXIS INTERNATIONAL FUNDS LUX I - HARRIS ASSOCIATES USD 4 226 603,91 4 225 497,64 0,38 US EQUITY FUND 208 938,27 INVESCO PAN EUROPEAN STRUCTURED EQUITY FUND -A- EUR 2 879 219,36 3 955 201,45 0,35 338 300,00 UBS ETF - BLOOMBERG BARCLAYS USD EMERGING MARKETS EUR 3 692 772,18 3 440 511,00 0,31 SOVEREIGN UCITS ETF -A- 82 408,61 JUPITER JGF - EUROPEAN GROWTH -I- EUR 2 379 006,29 3 368 039,89 0,30 319 893,11 STATE STREET EUROPE VALUE SPOTLIGHT FUND -I- EUR 3 330 999,98 3 363 676,00 0,30 14 374,24 WELLS FARGO LUX WORLDWIDE FUND - US ALL CAP USD 2 311 860,68 3 272 566,31 0,29 GROWTH -I- 111 712,80 HENDERSON HORIZON - PAN EUROPEAN EQUITY FUND -A2- EUR 2 618 214,01 3 199 454,68 0,29 91 879,14 MFS MERIDIAN FUNDS - EUROPEAN RESEARCH FUND -A1- EUR 2 406 321,95 3 176 262,01 0,28 272,80 EXANE EQUITY SELECT EUROPE -S- EUR 2 703 134,69 3 170 511,01 0,28 486 083,47 HENDERSON GARTMORE FUND - PAN EUROPEAN FUND -R- EUR 2 904 018,21 3 157 063,51 0,28 247 369,71 BLACKROCK GLOBAL FUNDS - EUROPEAN SPECIAL EUR 3 037 700,04 3 037 700,04 0,27 SITUATIONS FUND -I2-151 910,45 FIDELITY FUNDS - EUROPEAN DYNAMIC GROWTH FUND -Y- EUR 2 513 230,80 2 945 543,63 0,26 42 291,55 NORDEA 1 SICAV - EUROPEAN VALUE FUND -BI- EUR 2 491 501,82 2 870 750,21 0,26 26 645,71 JPMORGAN FUNDS - EUROPE EQUITY PLUS FUND -I- EUR 2 832 172,62 2 855 887,30 0,25 980,97 ALLIANZ EUROPE EQUITY GROWTH -IT- EUR 2 121 708,32 2 851 110,83 0,25 242 609,54 INVESCO PAN EUROPEAN EQUITY FUND -Z- EUR 2 491 599,98 2 491 599,98 0,22 25 000,00 EURIZON FUND - SLJ EMERGING LOCAL MARKET DEBT -ZE- EUR 2 500 000,00 2 454 250,00 0,22 60 130,00 UBS ETF - MSCI EMU VALUE UCITS ETF EUR 2 393 222,10 2 452 101,40 0,22 80 323,25 INVESTEC GLOBAL STRATEGY FUND LIMITED - EUROPEAN EUR 2 279 000,01 2 342 225,91 0,21 EQUITY FUND -I- 21 416,16 AB FCP I - EUROPEAN EQUITY PORTFOLIO -S1- EUR 2 160 110,05 2 253 622,41 0,20 19

Eurizon Manager Selection Fund - MS 20 PORTFOLIO AS AT 30 SEPTEMBER 2017 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value %of Net Assets 8 770,74 JPMORGAN INVESTMENT FUNDS - US SELECT EQUITY FUND USD 1 596 086,28 1 580 098,76 0,14 -I- 5 814,42 EURIZON FUND - EQUITY USA -Z- EUR 720 000,00 730 872,97 0,07 0,00 PICTET - USA INDEX -IS- USD 0,16 0,19 0,00 IRELAND 91 255 982,52 102 470 423,27 9,13 Finance 91 255 982,52 102 470 423,27 9,13 227 213,00 ISHARES CORE EUR GOVT BOND UCITS ETF EUR DIST EUR 26 843 804,63 27 701 808,96 2,47 704 654,68 POLAR CAPITAL NORTH AMERICAN FUND -I- USD 11 097 138,41 13 476 781,15 1,20 1 340 927,57 AXA ROSENBERG EQUITY ALPHA TRUST - US ENHANCED USD 11 669 197,54 13 191 503,71 1,17 INDEX EQUITY ALPHA FUND -I- 232 581,00 ISHARES MSCI NORTH AMERICA UCITS ETF USD DIST EUR 9 040 353,70 9 348 593,30 0,83 12 459,95 VANGUARD INVESTMENT SERIES PLC - US OPPORTUNITIES USD 4 615 482,56 8 138 238,17 0,72 FUND -INST- 38 900,71 NOMURA FUNDS IRELAND - JAPAN STRATEGIC VALUE FUND JPY 4 801 610,40 6 017 256,36 0,54 -A- 438 218,71 OLD MUTUAL NORTH AMERICAN EQUITY FUND -I- USD 5 637 019,28 5 576 708,53 0,50 31 609,17 MAN FUNDS PLC - MAN GLG JAPAN COREALPHA EQUITY -I- JPY 3 933 382,82 5 022 339,67 0,45 42 000,00 ISHARES MSCI CANADA UCITS ETF USD ACC EUR 3 803 379,60 4 533 900,00 0,40 67 261,00 ISHARES EMERGING MARKETS LOCAL GOVERNMENT BOND EUR 4 260 845,85 3 781 413,42 0,34 UCITS ETF 49 375,00 SPDR BARCLAYS EMERGING MARKETS LOCAL BOND UCITS EUR 3 457 017,73 3 140 250,00 0,28 ETF 21 000,00 ISHARES MSCI JAPAN UCITS ETF USD ACC EUR 2 096 750,00 2 541 630,00 0,23 FRANCE 69 341 634,24 74 809 250,45 6,67 Finance 69 341 634,24 74 809 250,45 6,67 167 733,00 MULTI UNITS FRANCE - LYXOR ETF EUROMTS GLOBAL EUR 26 614 577,99 29 588 101,20 2,64 INVESTMENT GRADE EUR 113 360,00 AMUNDI ETF GOVT BOND EUROMTS BROAD INVESTMENT EUR 24 875 955,38 25 834 744,00 2,30 GRADE UCITS ETF -C- 104 000,00 AMUNDI ETF FLOATING RATE EURO CORPORATE 1-3 UCITS EUR 10 569 988,00 10 563 280,00 0,94 ETF -C- 108 816,00 AMUNDI ETF S&P 500 UCITS ETF EUR 3 410 929,22 4 058 836,80 0,36 11 435,00 AMUNDI ETF MSCI EUROPE UCITS ETF EUR 2 213 903,11 2 463 899,45 0,22 9 100,00 AMUNDI ETF MSCI USA UCITS ETF EUR 1 656 280,54 2 300 389,00 0,21 Total Portfolio 1 013 915 232,03 1 120 126 446,91 99,79 20

Eurizon Manager Selection Fund - MS 20 COMMITMENTS ON FUTURE CONTRACTS AS AT 30 SEPTEMBER 2017 Size Quantity Purchase / Sale Description Maturity Currency Unrealised profit / (loss) (EUR) Commitment (EUR) Total Unrealised profit / (loss) on future contracts and commitment 479 518,25 79 261 872,01 Unrealised profit on future contracts and commitment 509 518,25 56 705 872,01 10 350 Purchase EURO STOXX 50 15/12/2017 EUR 184 557,16 12 516 000,00 50 80 Purchase RUSSELL 2000 MINI 15/12/2017 USD 156 468,27 5 051 262,98 10 000 70 Purchase TOPIX INDEX 07/12/2017 JPY 104 077,22 8 810 869,03 100 000 (133) Sale EURO BOBL 07/12/2017 EUR 51 870,00 17 446 940,00 100 000 (80) Sale EURO BUND 07/12/2017 EUR 12 545,60 12 880 800,00 Unrealised loss on future contracts and commitment (30 000,00) 22 556 000,00 100 000 (200) Sale SHORT EURO BTP 07/12/2017 EUR (30 000,00) 22 556 000,00 21

Eurizon Manager Selection Fund - MS 20 FORWARD FOREIGN EXCHANGE CONTRACTS AS AT 30 SEPTEMBER 2017 Maturity Purchase commitment in currency Sale commitment in currency Unrealised profit/(loss) (EUR) Total Unrealised profit / (loss) on forward foreign exchange contracts 66 703,12 Unrealised profit on forward foreign exchange contracts 87 390,76 14/12/2017 5 947 881,60 EUR 7 000 000,00 USD 49 979,61 14/12/2017 5 652 232,75 EUR 8 500 000,00 AUD 37 411,15 Unrealised loss on forward foreign exchange contracts (20 687,64) 14/12/2017 2 000 000,00 CAD 1 368 700,56 EUR (20 687,64) 22

Eurizon Manager Selection Fund - MS 40 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2017 IN EUR Assets Notes Investments in securities (Note 2) 484 436 654,65 Banks 2 824 601,99 Amounts due from brokers (Notes 2, 7) 176 594,28 Unrealised profit on forward foreign exchange contracts (Notes 2, 7) 15 844,72 Unrealised profit on future contracts (Notes 2, 7) 496 812,22 Other interest receivable 346 563,11 Receivable on investments sold 8 902 623,91 Receivable on subscriptions 1 211 384,20 Other assets 199 173,86 Total assets 498 610 252,94 Liabilities Unrealised loss on forward foreign exchange contracts (Notes 2, 7) (22 963,99) Unrealised loss on future contracts (Notes 2, 7) (26 640,00) Payable on investments purchased (8 239 563,60) Payable on redemptions (1 505 646,03) Other liabilities (758 781,71) Total liabilities (10 553 595,33) Total net assets 488 056 657,61 Currency Net Asset Value per Unit Units outstanding Class R Units EUR 148,42 3 288 320,600 23

Eurizon Manager Selection Fund - MS 40 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2017 IN EUR Net assets at the beginning of the period Notes 476 191 837,68 Net income from investments (Note 2) 765 488,81 Other income (Note 5) 403 544,43 Total income 1 169 033,24 Management fee (Note 5) (3 684 971,29) Depositary and paying agent fee (Note 6) (128 778,27) Subscription tax (Note 3) (31 964,07) Other charges and taxes (Notes 4, 6) (347 365,89) Total expenses (4 193 079,52) Net investment income / (loss) (3 024 046,28) Net realised profit / (loss) on sales of investments, currencies and other financial instruments (Notes 2, 7) 11 330 697,23 Change in unrealised appreciation / (depreciation) on - investments (Note 2) (12 028 116,31) - forward foreign exchange contracts (Notes 2, 7) (42 777,71) - foreign currencies (16 996,08) - future contracts (Notes 2, 7) 474 784,53 Net result of operations for the period (3 306 454,62) Subscriptions for the period 124 338 878,35 Redemptions for the period (109 167 603,80) Net assets at the end of the period 488 056 657,61 24

Eurizon Manager Selection Fund - MS 40 PORTFOLIO AS AT 30 SEPTEMBER 2017 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value %of Net Assets PORTFOLIO 446 866 300,71 484 436 654,65 99,26 TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO OFFICIAL STOCK EXCHANGE LISTING 65 281 187,29 66 780 104,92 13,68 Ordinary Bonds 51 002 725,83 52 488 284,92 10,75 ITALY 31 506 897,37 32 239 818,55 6,60 Government 31 506 897,37 32 239 818,55 6,60 5 350 000,00 BTP 4.50% 01/03/2024 EUR 6 360 216,04 6 376 665,00 1,31 3 910 000,00 BTP 4.75% 01/09/2044 EUR 4 408 942,67 4 960 617,00 1,02 4 000 000,00 BTP 0.10% 15/04/2019 EUR 3 991 800,00 4 020 840,00 0,82 3 600 000,00 BTP 0.35% 01/11/2021 EUR 3 536 104,00 3 578 760,00 0,73 2 950 035,95 BTP 0.50% 20/04/2023 EUR 2 950 035,95 2 988 386,42 0,61 2 900 000,00 BTP 2.20% 01/06/2027 EUR 2 950 576,00 2 926 100,00 0,60 2 002 620,00 BTP 1.65% 23/04/2020 EUR 2 140 205,71 2 117 370,13 0,43 1 400 000,00 BTP 3.50% 01/03/2030 EUR 1 489 040,00 1 559 320,00 0,32 1 200 000,00 BTP 1.45% 15/09/2022 EUR 1 202 400,00 1 234 680,00 0,25 1 000 000,00 BTP 1.50% 01/08/2019 EUR 1 004 500,00 1 030 900,00 0,21 900 000,00 BTP 2.50% 01/05/2019 EUR 949 977,00 938 880,00 0,19 500 000,00 BTP 2.00% 01/12/2025 EUR 523 100,00 507 300,00 0,11 SPAIN 10 675 382,49 11 407 322,60 2,34 Government 10 675 382,49 11 407 322,60 2,34 5 590 000,00 SPAIN GOVERNMENT BOND 3.80% 30/04/2024 EUR 6 433 287,25 6 666 969,40 1,37 2 500 000,00 SPAIN GOVERNMENT BOND 1.45% 31/10/2027 EUR 2 455 725,00 2 465 175,00 0,50 1 780 000,00 SPAIN GOVERNMENT BOND 4.20% 31/01/2037 EUR 1 786 370,24 2 275 178,20 0,47 FRANCE 4 591 849,70 4 406 569,90 0,90 Government 4 591 849,70 4 406 569,90 0,90 3 310 000,00 FRANCE REPUBLIC GOVERNMENT BOND OAT 3.25% EUR 4 591 849,70 4 406 569,90 0,90 25/05/2045 PORTUGAL 3 439 698,27 3 652 773,87 0,75 Government 3 439 698,27 3 652 773,87 0,75 3 453 278,00 PORTUGAL OBRIGACOES DO TESOURO OT 2.875% 21/07/2026 EUR 3 439 698,27 3 652 773,87 0,75 GERMANY 788 898,00 781 800,00 0,16 Government 788 898,00 781 800,00 0,16 600 000,00 BUNDESREPUBLIK DEUTSCHLAND 2.50% 15/08/2046 EUR 788 898,00 781 800,00 0,16 Floating Rate Notes 14 278 461,46 14 291 820,00 2,93 ITALY 14 278 461,46 14 291 820,00 2,93 Government 14 278 461,46 14 291 820,00 2,93 8 200 000,00 CCT FRN 15/12/2020 EUR 8 371 868,00 8 350 880,00 1,71 5 800 000,00 CCT FRN 15/11/2019 EUR 5 906 593,46 5 940 940,00 1,22 INVESTMENT FUNDS 381 585 113,42 417 656 549,73 85,58 UCI Units 381 585 113,42 417 656 549,73 85,58 LUXEMBOURG 331 631 434,53 360 446 528,51 73,86 Finance 331 631 434,53 360 446 528,51 73,86 247 164,41 EURIZON FUND - BOND EUR LONG TERM LTE -Z- EUR 57 507 572,91 63 316 106,65 12,97 525 646,50 EURIZON FUND - TREASURY EUR T1 -Z- EUR 52 552 494,45 52 470 034,03 10,75 82 915,78 EURIZON FUND - BOND EUR MEDIUM TERM LTE -Z- EUR 29 823 297,62 31 154 775,55 6,38 98 664,85 EURIZON FUND - BOND EUR SHORT TERM LTE -Z- EUR 14 995 576,69 15 334 490,68 3,14 25

Eurizon Manager Selection Fund - MS 40 PORTFOLIO AS AT 30 SEPTEMBER 2017 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value %of Net Assets 88 445,18 GENERALI INVESTMENTS SICAV - EURO SHORT TERM BOND -B- EUR 11 571 416,20 11 819 106,56 2,42 100 131,17 EPSILON FUND - EURO CASH -I- EUR 11 129 751,06 11 114 559,87 2,28 553 056,58 FIDELITY FUNDS - AMERICAN GROWTH FUND -Y- USD 7 438 162,92 7 966 975,51 1,63 30 829,95 EURIZON FUND - BOND HIGH YIELD -Z- EUR 6 691 938,33 7 814 467,17 1,60 30 589,73 PARVEST - EQUITY USA GROWTH -I- USD 5 651 469,78 7 613 538,87 1,56 34 228,34 ROBECO CAPITAL GROWTH FUNDS - US SELECT USD 5 671 908,46 7 398 676,46 1,52 OPPORTUNITIES EQUITIES -I- 66 637,92 NATIXIS INTERNATIONAL FUNDS LUX I - HARRIS ASSOCIATES US USD 7 289 560,24 7 297 368,86 1,50 EQUITY FUND 56 676,99 EURIZON FUND - EQUITY USA -Z- EUR 7 121 719,99 7 124 298,27 1,46 39 241,58 JPMORGAN FUNDS - US VALUE FUND -I ACC- USD 6 500 369,40 6 485 054,52 1,33 6 633,30 VONTOBEL FUND - US EQUITY -B- USD 5 139 650,98 6 408 192,76 1,31 31 272,67 UBS LUX EQUITY SICAV - USA GROWTH USD -Q- USD 4 656 647,16 6 291 041,92 1,29 16 545,15 PICTET - PACIFIC EX JAPAN INDEX -IS- USD 5 916 269,70 5 834 468,85 1,20 210 157,81 AB SICAV I - SELECT US EQUITY PORTFOLIO -I- USD 4 494 232,45 5 617 484,50 1,15 71 356,53 WELLINGTON MANAGEMENT FUNDS LUXEMBOURG - USD 5 352 512,78 5 341 680,51 1,09 WELLINGTON US RESEARCH EQUITY FUNDS -S- 503 163,50 PRIVILEDGE - DELAWARE US LARGE CAP VALUE -U- USD 5 329 835,80 5 321 822,95 1,09 34 247,64 EURIZON FUND - EQUITY NORTH AMERICA LTE -Z- EUR 4 022 114,37 5 011 114,68 1,03 123 025,88 NORDEA 1 SICAV - EUROPEAN HIGH YIELD BOND FUND -BI- EUR 3 829 999,98 4 379 721,29 0,90 42 590,84 EURIZON FUND - BOND EMERGING MARKETS IN LOCAL EUR 3 834 415,54 4 173 902,42 0,86 CURRENCIES -Z- 32 452,61 VONTOBEL FUND - EMERGING MARKETS DEBT -H- EUR 3 699 999,90 3 956 297,69 0,81 210 494,20 JPMORGAN FUNDS - HIGHBRIDGE US STEEP -A- USD 2 966 388,21 3 603 793,57 0,74 34 980,84 EURIZON FUND - EQUITY JAPAN LTE -Z- EUR 2 773 074,29 3 384 745,88 0,69 83 782,03 MFS MERIDIAN FUNDS - EUROPEAN VALUE FUND -A1- EUR 2 439 451,82 3 347 092,26 0,69 32 854,09 JPMORGAN FUNDS - JAPAN EQUITY FUND -A- EUR 3 292 200,07 3 290 994,40 0,67 11 225,67 VONTOBEL FUND - EUROPEAN EQUITY -B- EUR 2 689 356,40 3 289 121,90 0,67 462 208,81 HENDERSON GARTMORE FUND - PAN EUROPEAN FUND -R- EUR 2 766 546,39 3 001 999,99 0,62 790 588,74 ABERDEEN GLOBAL - JAPANESE EQUITY FUND -A2- JPY 2 271 720,06 2 952 368,82 0,61 25 171,06 AB FCP I - EUROPEAN EQUITY PORTFOLIO -S1- EUR 2 539 260,02 2 648 751,17 0,54 225,20 EXANE EQUITY SELECT EUROPE -S- EUR 2 245 739,17 2 617 269,90 0,54 18 877,23 EPSILON FUND - EUROPEAN Q-EQUITY -I- EUR 2 139 812,47 2 616 195,17 0,54 75 028,04 MFS MERIDIAN FUNDS - EUROPEAN RESEARCH FUND -A1- EUR 2 032 370,08 2 593 719,38 0,53 136 997,17 INVESCO PAN EUROPEAN STRUCTURED EQUITY FUND -A- EUR 1 894 064,33 2 593 356,43 0,53 37 434,84 NORDEA 1 SICAV - EUROPEAN VALUE FUND -BI- EUR 2 104 633,33 2 541 076,87 0,52 23 520,56 JPMORGAN FUNDS - EUROPE EQUITY PLUS FUND -I- EUR 2 500 000,00 2 520 933,30 0,52 126 425,69 FIDELITY FUNDS - EUROPEAN DYNAMIC GROWTH FUND -Y- EUR 1 990 592,37 2 451 394,13 0,50 230 038,95 INVESCO PAN EUROPEAN EQUITY FUND -Z- EUR 2 362 500,02 2 362 500,02 0,48 56 034,79 JUPITER JGF - EUROPEAN GROWTH -I- EUR 1 706 232,31 2 290 141,87 0,47 217 182,28 STATE STREET EUROPE VALUE SPOTLIGHT FUND -I- EUR 2 258 363,74 2 283 671,63 0,47 18 379,69 SCHRODER INTERNATIONAL SELECTION FUND - EUROPEAN EUR 1 916 855,68 2 268 770,55 0,46 OPPORTUNITIES -C- 77 978,94 HENDERSON HORIZON - PAN EUROPEAN EQUITY FUND -A2- EUR 1 918 578,59 2 233 316,90 0,46 179 495,11 BLACKROCK GLOBAL FUNDS - EUROPEAN SPECIAL SITUATIONS EUR 2 204 199,95 2 204 199,95 0,45 FUND -I2-749,53 ALLIANZ EUROPE EQUITY GROWTH -IT- EUR 1 596 439,48 2 178 460,61 0,45 71 628,98 INVESTEC GLOBAL STRATEGY FUND LIMITED - EUROPEAN EUR 2 022 100,00 2 088 701,20 0,43 EQUITY FUND -I- 8 978,09 WELLS FARGO LUX WORLDWIDE FUND - US ALL CAP GROWTH USD 1 405 347,09 2 044 030,48 0,42 -I- 20 102,03 EURIZON FUND - SLJ EMERGING LOCAL MARKET DEBT -ZE- EUR 2 000 000,05 1 973 416,38 0,40 9 835,08 JPMORGAN INVESTMENT FUNDS - US SELECT EQUITY FUND -I- USD 1 775 630,14 1 771 846,79 0,36 6 015,74 EURIZON FUND - EQUITY OCEANIA LTE -Z- EUR 1 357 819,38 1 714 304,57 0,35 34 369,00 UBS ETF - MSCI EMU VALUE UCITS ETF EUR 1 245 553,26 1 401 567,82 0,29 91 800,00 UBS ETF - BLOOMBERG BARCLAYS USD EMERGING MARKETS SOVEREIGN UCITS ETF -A- EUR 995 689,12 933 606,00 0,19 26

Eurizon Manager Selection Fund - MS 40 PORTFOLIO AS AT 30 SEPTEMBER 2017 IN EUR Nominal / Quantity Description Currency Acquisition cost Carrying amount value %of Net Assets IRELAND 40 727 291,86 47 879 432,65 9,81 Finance 40 727 291,86 47 879 432,65 9,81 425 086,55 POLAR CAPITAL NORTH AMERICAN FUND -I- USD 6 750 099,21 8 129 937,28 1,67 628 470,23 OLD MUTUAL NORTH AMERICAN EQUITY FUND -I- USD 7 499 788,97 7 997 822,07 1,64 788 833,67 AXA ROSENBERG EQUITY ALPHA TRUST - US ENHANCED INDEX USD 6 891 055,68 7 760 226,98 1,59 EQUITY ALPHA FUND -I- 11 366,45 VANGUARD INVESTMENT SERIES PLC - US OPPORTUNITIES USD 5 225 600,90 7 424 016,72 1,52 FUND -INST- 38 312,00 ISHARES MSCI CANADA UCITS ETF USD ACC EUR 3 338 864,00 4 135 780,40 0,85 19 415,44 NOMURA FUNDS IRELAND - JAPAN STRATEGIC VALUE FUND -A- JPY 2 439 893,23 3 003 227,14 0,61 16 668,31 MAN FUNDS PLC - MAN GLG JAPAN COREALPHA EQUITY -I- JPY 2 105 450,63 2 648 406,47 0,54 45 285,00 ISHARES MSCI NORTH AMERICA UCITS ETF USD DIST EUR 1 782 531,51 1 820 230,58 0,37 24 020,00 ISHARES EMERGING MARKETS LOCAL GOVERNMENT BOND EUR 1 379 758,63 1 350 404,40 0,28 UCITS ETF 20 950,00 SPDR BARCLAYS EMERGING MARKETS LOCAL BOND UCITS ETF EUR 1 379 271,43 1 332 420,00 0,27 11 920,00 ISHARES EUR HIGH YIELD CORP BOND UCITS ETF EUR 1 221 904,55 1 274 605,60 0,26 136 834,12 INVESCO ASIAN EQUITY FUND -A- USD 713 073,12 1 002 355,01 0,21 FRANCE 6 280 866,75 6 253 987,04 1,28 Finance 6 280 866,75 6 253 987,04 1,28 49 200,00 AMUNDI ETF FLOATING RATE EURO CORPORATE 1-3 UCITS ETF EUR 5 000 417,40 4 997 244,00 1,02 -C- 2 608,00 AMUNDI ETF MSCI PACIFIC EX JAPAN UCITS ETF DR EUR 1 280 449,35 1 256 743,04 0,26 UNITED KINGDOM 2 945 520,28 3 076 601,53 0,63 Finance 2 945 520,28 3 076 601,53 0,63 179 414,84 BAILLIE GIFFORD OVERSEAS GROWTH FUNDS ICVC - JAPANESE GBP 2 945 520,28 3 076 601,53 0,63 FUND -B- Total Portfolio 446 866 300,71 484 436 654,65 99,26 27

Eurizon Manager Selection Fund - MS 40 COMMITMENTS ON FUTURE CONTRACTS AS AT 30 SEPTEMBER 2017 Size Quantity Purchase / Sale Description Maturity Currency Unrealised profit / (loss) (EUR) Commitment (EUR) Total Unrealised profit / (loss) on future contracts and commitment 470 172,22 52 804 845,69 Unrealised profit on future contracts and commitment 496 812,22 40 708 245,69 50 65 Purchase RUSSELL 2000 MINI 15/12/2017 USD 127 853,41 4 104 151,17 10 220 Purchase EURO STOXX 50 15/12/2017 EUR 109 302,86 7 867 200,00 50 80 Purchase S&P 500 EMINI INDEX 15/12/2017 USD 102 520,78 8 513 284,74 10 000 40 Purchase TOPIX INDEX 07/12/2017 JPY 62 183,32 5 034 782,30 50 180 Purchase STOXX 600 BANK 15/12/2017 EUR 61 200,00 1 694 700,00 100 000 (51) Sale EURO BOBL 07/12/2017 EUR 19 890,00 6 690 180,00 100 000 (19) Sale EURO BUND 07/12/2017 EUR 8 760,34 3 059 190,00 20 (37) Sale NASDAQ 100 EMINI 15/12/2017 USD 5 101,51 3 744 757,48 Unrealised loss on future contracts and commitment (26 640,00) 12 096 600,00 100 000 14 Purchase EURO OAT 07/12/2017 EUR (13 440,00) 2 171 960,00 100 000 (88) Sale SHORT EURO BTP 07/12/2017 EUR (13 200,00) 9 924 640,00 28

Eurizon Manager Selection Fund - MS 40 FORWARD FOREIGN EXCHANGE CONTRACTS AS AT 30 SEPTEMBER 2017 Maturity Purchase commitment in currency Sale commitment in currency Unrealised profit/(loss) (EUR) Total Unrealised profit / (loss) on forward foreign exchange contracts (7 119,27) Unrealised profit on forward foreign exchange contracts 15 844,72 14/12/2017 2 393 886,81 EUR 3 600 000,00 AUD 15 844,72 Unrealised loss on forward foreign exchange contracts (22 963,99) 14/12/2017 1 600 000,00 CAD 1 094 960,44 EUR (16 550,10) 14/12/2017 880 000,00 GBP 1 003 348,56 EUR (6 413,89) 29

Eurizon Manager Selection Fund - MS 70 STATEMENT OF NET ASSETS AS AT 30 SEPTEMBER 2017 IN EUR Assets Notes Investments in securities (Note 2) 184 231 146,64 Banks 1 929 117,39 Amounts due from brokers (Notes 2, 7) 77 781,17 Unrealised profit on forward foreign exchange contracts (Notes 2, 7) 5 941,77 Unrealised profit on future contracts (Notes 2, 7) 290 934,82 Other interest receivable 86 066,10 Receivable on investments sold 4 260 827,99 Receivable on subscriptions 345 882,63 Other assets 83 353,52 Total assets 191 311 052,03 Liabilities Bank overdrafts (411,40) Unrealised loss on forward foreign exchange contracts (Notes 2, 7) (29 812,54) Payable on investments purchased (3 959 415,13) Payable on redemptions (532 362,22) Other liabilities (302 736,77) Total liabilities (4 824 738,06) Total net assets 186 486 313,97 Currency Net Asset Value per Unit Units outstanding Class R Units EUR 164,30 1 135 019,109 30

Eurizon Manager Selection Fund - MS 70 STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30 SEPTEMBER 2017 IN EUR Net assets at the beginning of the period Notes 175 279 612,45 Net income from investments (Note 2) 202 077,17 Other income (Note 5) 167 682,26 Total income 369 759,43 Management fee (Note 5) (1 449 258,78) Depositary and paying agent fee (Note 6) (47 542,22) Subscription tax (Note 3) (14 756,11) Other charges and taxes (Notes 4, 6) (133 298,13) Total expenses (1 644 855,24) Net investment income / (loss) (1 275 095,81) Net realised profit / (loss) on sales of investments, currencies and other financial instruments (Notes 2, 7) 6 942 851,60 Change in unrealised appreciation / (depreciation) on - investments (Note 2) (7 962 736,68) - forward foreign exchange contracts (Notes 2, 7) (68 250,44) - foreign currencies (2 978,16) - future contracts (Notes 2, 7) 298 666,64 Net result of operations for the period (2 067 542,85) Subscriptions for the period 51 853 990,73 Redemptions for the period (38 579 746,36) Net assets at the end of the period 186 486 313,97 31