ABN AMRO MULTI-MANAGER FUNDS - Fundsquare

ABN AMROMULTI-MANAGERFUNDSSemi-annual Report and Unaudited Financial Statements30-06-2017

Société d’Investissement à Capital Variable (SICAV)R.C.S. Luxembourg Nr. B-78.762

English

Registered Office ABN AMRO Multi-Manager Funds49, avenue J.F. KennedyL-1855 LuxembourgGrand Duchy of Luxembourg

Board of Directors

Directors Mr Stéphane CorsalettiChief Executive OfficerABN AMRO Investment SolutionsParis, France

Mrs Pauline EngelbertsGlobal Head Investments Products,Advisory and TreasuryABN AMRO NV Private BankingInternationalAmsterdam, Netherlands

Mr François-Xavier GennetaisChief Operating OfficerABN AMRO Investments SolutionsParis, France

Mrs Elisa Alonso SanzCountry Chief Risk OfficerABN AMRO Bank (Luxembourg) S.A.Grand Duchy of Luxembourg

Management Company ABN AMRO Investment Solutions3, Avenue HocheF-75008 Paris, France

Investment Manager ABN AMRO Investement Solutions3, Avenue HocheF-75008 Paris, France

External Asset Managers Alliance Bernstein L.P.1345, Avenue of the AmericasNY 101053 New York, USA

Alliance Trust Investments8, West MarketgaitDD1 1QN Dundee, Scotland, UK

Amundi S.A.90, boulevard PasteurF-75015 Paris, France

Aristotle Capital Management, LLC11111, Santa Monica Boulevard,Suite 1760CA 90025 Los Angeles, USA

Babson Capital Management, LLC550, South Management LLC,Suite 3300NC 28202 Charlotte, USA

Blackrock Investment Management(UK) Ltd12, Throgmorton AvenueEC2N 2DL London, UK

Brown Investment Advisory Incorporated901, South Bond Street, Suite 400MD 21231-3340 Baltimore, USA

BNY Mellon Asset ManagementInternational Ltd160, Queen Victoria StreetEC4V 4LA London, UK

Candriam Belgium58, Avenue des ArtsB-1000 Brussels, Belgium

Capital International Ltd40, Grosvenor PlaceSW1X 7GG London, UK

Dana Investment Advisors Inc.15800, W. Bluemound Road, Suite 250WI 53051 Brookfield, USA

Delta Lloyd Asset Management N.V.6, Amstelplein1096 BC Amsterdam, The Netherlands

EdenTree Investment Management LimitedBeaufort House, Brunswick Road,GL1 1JZ Gloucester, UK

Edinburgh Partners Limited12, Charlotte SquareEH2 4DJ Edinburgh, UK

Fisher Investments Europe Limited6-10, Whitfield StreetW1T2RE London, UK

Fred Alger Management, Inc.360, Park Avenue SouthNY 10010 New York, USA

ABNAMROMulti-ManagerFundsSociété d’Investissement à Capital Variable (SICAV)established under the laws of Luxembourg

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External Asset Managers(continued)

Fullerton Fund Management Company Ltd60B Orchard Road #06-18, Tower 2The Atrium@Orchard, 238891, Singapore

Goldman Sachs Asset ManagementInternationalPeterborough Court, 133 Fleet StreetEC4A 2BB London, UK

Henderson Global Investors Ltd201, BishopsgateEC2M 3AE London, UK

Hermes Sourcecap Ltd1, Portsoken Street, Lloyds ChambersE1 8HZ, London, UK

Insight Investment Management (Global)Limited160, Queen Victoria StreetEC4V 4LA London, UK

Investec Asset Management Limited2, Gresham StreetEC2V 7QP London, UK

JP Morgan Asset Management (UK) Ltd.20, Finsbury Street, Finsbury DialsEC2Y 9AQ London, UK

Kempen Capital Management N.V.300, Beethovenstraat1077 WZ Amsterdam,The Netherlands

Loomis, Sayles & Company, L.P.One Financial CenterMassachusetts 02111 Boston, USA

Matthews International CapitalManagement, LLCFour Embarcadero Center, Suite 550CA 94111 San Francisco, USA

NATIXIS AM PARIS21, quai d’AusterlitzF-75634 Paris Cedex 13, France

Numeric Investors LLC470, Atlantic Avenue, 6th FloorMA 02210 Boston, USA

Parnassus Investments1, Market Street, Suite 1600CA 94105 San Francisco, USA

PIMCO Europe Ltd103, Wigmore Street, Nations HouseW1U 1QS London, UK

Pioneer Investment Management Ltd1, George’s Quay Plaza’s, George’s Quay2 Dublin, Ireland

PGIM Inc.655 Broad StreetNJ 07102 Newark, USA

External Asset Managers(continued)

Principal Global Investors, LLC801, Grand Avenue, Des Moines50392 Iowa, USA

Pzena Investment Management, LLC120, West 45th Street, 20th FloorNY 10036 New York, USA

Robeco Institutional AssetManagement B.V.120, Coolsingel3011 AG- Rotterdam, The Netherlands

Robeco Investment Management Inc.909, Third Avenue, 32nd FloorNY 10022 New York, USA

Schroder Investment ManagementNorth America Inc.875, Third Avenue, 22nd FloorNY-10022-6225 New York, USA

Schroder Investment Management Ltd31, Gresham StreetEC2V 7QA London, UK

Standish Mellon Asset Management, LLC201, Washington Street,BNY Mellon CenterMA 02108-4408 Boston, USA

State Street Global Advisors Limited20, Churchill PlaceE14 5HJ London, UK

State Street Global Advisors France23-25, rue Delarivière-Lefoullon,Defense PlazaF-92064 Paris la Défense, France

TCW Investment Management Company865, S Figueroa Street, Suite 1800California 90017 Los Angeles, USA

Verrazzano Capital SAS49-51, Avenue George VF-75008 Paris, France

Wellington Management International Ltd80, Victoria Street, Cardinal PlaceSW1E 5JL London, UK

William Blair & Company L.L.C.222, West Adams StreetIL 60606 Chicago, USA

Depositary Bank andPrincipal Paying Agent

State Street Bank Luxembourg S.C.A.49, Avenue J.F. KennedyL-1855 Luxembourg,Grand Duchy of Luxembourg

ABNAMROMulti-ManagerFunds (continued)Société d’Investissement à Capital Variable (SICAV)established under the laws of Luxembourg

2

Transfer Agentand Registrar


Accounting Agent State Street Bank Luxembourg S.C.A.49, Avenue J.F. KennedyL-1855 Luxembourg,Grand Duchy of Luxembourg

Administrative andDomiciliary Agent


Advisors TriodosMeespierson SustainableInvestment Management BV101a, Hoofdstraat3971 KE Driebergen, The Netherlands

ABN AMRO Bank N.V. Belgium BranchRoderveldlaan 5 bus 4,2600 Antwerpen-Berchem, Belgium

Auditor Pricewaterhouse Coopers, Sociétécoopérative2, rue Gerhard MercatorB.P. 1443L-1014 Luxembourg,Grand Duchy of Luxembourg

Local Agents CACEIS Belgium S.A.Avenue du Port 86 C b320B-1000 Brussels, Belgium (financialagent)

CACEIS Bank France1-3 place ValhubertF-75013 Paris, France (paying agent)

State Street Bank GmbHAgent Fund TradingSolmsstrasse 83D-60486 Frankfurt, Germany(paying and information agent)

CACEIS Switzerland, succursale de Nyon,35 Route de Signy,CH-1260 Nyon, Switzerland(paying agent)

CACEIS (Switzerland) SA,35 Route de Signy,CH-1260 Nyon, Switzerland(representative agent)


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Regarding the distribution of the fund in GermanyFor the following other investment compartments, no notification as referred to in section 310 of the Investment Code has been filed, so thatunits of these investment compartments may not be marketed to investors within the jurisdiction of the Investment Code:

AAMMF Alger US Equities AAMMF Robeco Quant Duration Global BondsAAMMF Alliance Trust European Sustainable Equities AAMMF Schroder Euro Corporate BondsAAMMF AQS Europe Long Short AAMMF Sycomore Euro Sustainable EquitiesAAMMF Blackrock Euro Government Bonds AAMMF Stable ReturnAAMMF Comfort Invest II AAMMF TCW US EquitiesAAMMF Comfort Invest III AAMMF US Equities IndexAAMMF Comfort Invest IV AAMMF Verrazzano Europe Long ShortAAMMF Dana US Sustainable Equities AAMMF Verzekeringen Beleggingsfonds Zeer DefensiefAAMMF EdenTree European Sustainable Equities AAMMF Verzekeringen Beleggingsfonds DefensiefAAMMF Edinburgh Partners European Equities AAMMF Verzekeringen Beleggingsfonds Matig DefensiefAAMMF Euro Sustainable Equities AAMMF Verzekeringen Beleggingsfonds Matig OffensiefAAMMF European Convertibles AAMMF Verzekeringen Beleggingsfonds OffensiefAAMMF European Convertibles Moderate AAMMF Verzekeringen Beleggingsfonds Zeer OffensiefAAMMF European Equities AAMMF William Blair Emerging Market EquitiesAAMMF Fisher Emerging Market EquitiesAAMMF European Equities IndexAAMMF French EquitiesAAMMF Fullerton Asian BondsAAMMF Fund of Mandates Asia-Pacific EquitiesAAMMF Fund of Mandates Emerging Market EquitiesAAMMF Fund of Mandates Euro Corporate BondsAAMMF Fund of Mandates Euro Government BondsAAMMF Fund of Mandates European EquitiesAAMMF Fund of Mandates Flexible BondsAAMMF Fund of Mandates North American EquitiesAAMMF Global Property IndexAAMMF Global Sustainable EquitiesAAMMF Global ConvertiblesAAMMF Henderson European EquitiesAAMMF Henderson European Smaller Companies EquitiesAAMMF Hermes European EquitiesAAMMF Insight Euro Corporate BondsAAMMF Insight Euro Government BondsAAMMF Investec Emerging Market EquitiesAAMMF Kempen Euro Corporate BondsAAMMF Pension Lifecycle 2015AAMMF Pension Lifecycle 2020AAMMF Pension Lifecycle 2025AAMMF Pension Lifecycle 2030AAMMF Pension Lifecycle 2035AAMMF Pension Lifecycle 2040AAMMF Pension Lifecycle 2045AAMMF Pension Lifecycle 2050AAMMF Pension Lifecycle 2055AAMMF Loomis US EquitiesAAMMF M&G Emerging Market EquitiesAAMMF Natixis Euro Government BondsAAMMF North American Equities IndexAAMMF Parnassus US Sustainable EquitiesAAMMF Pioneer European EquitiesAAMMF Profile 1AAMMF Profile 3AAMMF Profile 5


4

History 6

Performance for the period ended 30-06-2017 21

Statement of changes in issued shares 25

Statement of Investments and other net assets 30

Statement of net assets 30-06-2017 342

Statement of operations and changes in net assetsfor the period ended 30-06-2017

347

Notes to the Financial Statements as at 30-06-2017 357

Information to Shareholders (unaudited) 366

CONTENTS

No subscription can be received on the sole basis of the present report. Subscriptions are only valid if made on the sole basis of the currentProspectus supplemented by the application form, the Key Investor Information (“KIID”), the latest annual report and the latest semi-annualreport if published hereafter.

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31-12-2015 31-12-2016 30-06-2017

AAMMF Euro Bonds – “A” Number of shares 18,732 - -Total net assets EUR 310,202 - -Net asset value per Share 16.56 - -

AAMMF Euro Bonds – “I” Number of shares - - -Total net assets EUR - - -Net asset value per Share 15,324.00 - -

AAMMF Euro Corporate Bonds – “A” Number of shares 16,428 - -Total net assets EUR 2,130,383 - -Net asset value per Share 129.68 - -

AAMMF Euro Corporate Bonds – “C” Number of shares 1,698,995 - -Total net assets EUR 229,075,496 - -Net asset value per Share 134.83 - -

AAMMF Euro Corporate Bonds – “C2” Number of shares 293,868 - -Total net assets EUR 39,478,227 - -Net asset value per Share 134.34 - -

AAMMF Euro Corporate Bonds – “CHDUR”

Number of shares 9,463 - -Total net assets EUR 977,433 - -Net asset value per Share 103.29 - -

AAMMF World Equities – “A” Number of shares 72,412 - -Total net assets EUR 1,388,138 - -Net asset value per Share 19.17 - -

AAMMF World Equities – “B” Number of shares 66,488 - -Total net assets EUR 4,701,366 - -Net asset value per Share 70.71 - -

AAMMF World Equities – “I” Number of shares 23,639 - -Total net assets EUR 475,853 - -Net asset value per Share 20.13 - -

AAMMF Fund of Mandates Asia-PacificEquities – “A-EUR”

Number of shares 449,822 832,303 725,425Total net assets EUR 26,669,946 53,023,546 49,822,194Net asset value per Share 59.29 63.71 68.68

AAMMF Fund of Mandates Asia-PacificEquities – “A-USD”

Number of shares 207,256 135,474 100,780Total net assets USD 9,305,794 6,318,105 5,477,996Net asset value per Share 44.90 46.64 54.36

AAMMF Fund of Mandates Asia-PacificEquities – “C-EUR”

Number of shares 3,634,811 2,848,997 2,755,686Total net assets EUR 465,873,726 396,879,527 416,072,762Net asset value per Share 128.17 139.31 150.99

AAMMF Fund of Mandates Asia-PacificEquities – “C-USD”

Number of shares 10,942 10,519 7,334Total net assets USD 1,035,551 1,045,925 854,523Net asset value per Share 94.64 99.43 116.52

AAMMF Fund of Mandates Asia-PacificEquities – “F”

Number of shares - 88,188 167,028Total net assets EUR - 10,152,293 20,831,734Net asset value per Share - 115.12 124.72

HISTORY

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31-12-2015 31-12-2016 30-06-2017

AAMMF Fund of Mandates Asia-PacificEquities – “I-USD”

Number of shares 0(1) 0(1) 205Total net assets USD - 110 2,648,804Net asset value per Share 10,324.00 11,012.00 12,920.37

AAMMF Fund of Mandates EuroGovernment Bonds – “A”


AAMMF Fund of Mandates EuroGovernment Bonds – “C”


AAMMF Fund of Mandates EuroGovernment Bonds – “CH DUR”


AAMMF Fund of Mandates EuroGovernment Bonds – “F”


AAMMF Fund of Mandates EuropeanEquities – “A-EUR”


AAMMF Fund of Mandates EuropeanEquities – “A-USD”


AAMMF Fund of Mandates EuropeanEquities – “C-EUR”


AAMMF Fund of Mandates EuropeanEquities – “C-USD”


AAMMF Fund of Mandates EuropeanEquities – “F”

Number of shares - 10 10Total net assets EUR - 1,088 1,164Net asset value per Share - 108.78 116.42

AAMMF Fund of Mandates EuropeanEquities – “I-EUR”

Number of shares 2,470 2,579 2,579Total net assets EUR 32,055,141 34,090,440 36,478,935Net asset value per Share 12,977.79 13,216.32 14,142.30

AAMMF Fund of Mandates NorthAmerican Equities – “A-EUR”


AAMMF Fund of Mandates NorthAmerican Equities – “A-USD”


AAMMF Fund of Mandates NorthAmerican Equities – “C-EUR”


HISTORY (continued)

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31-12-2015 31-12-2016 30-06-2017

AAMMF Fund of Mandates NorthAmerican Equities – “C-USD”


AAMMF Fund of Mandates NorthAmerican Equities – “F”


AAMMF Fund of Mandates NorthAmerican Equities – “I-USD”

Number of shares 0(1) 431 431Total net assets USD - 7,275,456 7,998,075Net asset value per Share 14,847.00 16,894.13 18,572.10

AAMMF Fund of Mandates NorthAmerican Equities – “Neuflize USA A”

Number of shares 8,580 3,868 3,320Total net assets EUR 1,231,316 640,767 557,114Net asset value per Share 143.51 165.66 167.79

AAMMF Fund of Mandates EmergingMarket Equities – “A-EUR”

Number of shares 300 346,153 454,027Total net assets EUR 23,199 29,969,920 43,631,568Net asset value per Share 77.33 86.58 96.10

AAMMF Fund of Mandates EmergingMarket Equities – “A-USD”

Number of shares 1,148 542 785Total net assets USD 89,647 46,010 79,968Net asset value per Share 78.09 84.89 101.87

AAMMF Fund of Mandates EmergingMarket Equities – “C-EUR”


AAMMF Fund of Mandates EmergingMarket Equities – “F”


AAMMF Fund of Mandates EuroCorporate Bonds – “A”


AAMMF Fund of Mandates EuroCorporate Bonds – “AH DUR”


AAMMF Fund of Mandates EuroCorporate Bonds – “C”


AAMMF Fund of Mandates EuroCorporate Bonds – “CH DUR”

Number of shares 1,200 1,505,243 3,551,224Total net assets EUR 117,156 149,216,224 358,312,465Net asset value per Share 97.63 99.13 100.90

AAMMF Fund of Mandates EuroCorporate Bonds – “F”

Number of shares - 10 6,072Total net assets EUR - 1,033 635,902Net asset value per Share - 103.26 104.73

AAMMF Fund of Mandates FlexibleBonds – “A”


HISTORY (continued)

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31-12-2015 31-12-2016 30-06-2017

AAMMF Fund of Mandates FlexibleBonds – “AH EUR”

Number of shares 167,205 150,665 665Total net assets EUR 15,934,637 15,020,698 67,625Net asset value per Share 95.30 99.70 101.69

AAMMF Fund of Mandates FlexibleBonds – “C”

Number of shares 100 3,834 2,062,176Total net assets USD 9,604 393,706 218,681,850Net asset value per Share 96.04 102.69 106.04

AAMMF Fund of Mandates FlexibleBonds – “CH EUR”

Number of shares 4,060,371 1,509,634 82,510Total net assets EUR 388,902,334 152,399,062 8,528,399Net asset value per Share 95.78 100.95 103.36

AAMMF Pension Lifecycle 2015 – “A” Number of shares 42 99 44Total net assets EUR 6,498 16,345 7,084Net asset value per Share 154.72 165.10 161.00

AAMMF Pension Lifecycle 2015 – “P” Number of shares 42,405 31,572 12,112Total net assets EUR 6,164,839 4,900,543 1,833,648Net asset value per Share 145.38 155.22 151.39



AAMMF Pension Lifecycle 2025 – “A” Number of shares 209 3,175 3,313Total net assets EUR 31,087 506,365 533,562Net asset value per Share 148.74 159.49 161.05







HISTORY (continued)

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AAMMF Pension Lifecycle 2055 – “P” Number of shares 500 500 500Total net assets EUR 48,210 51,817 53,270Net asset value per Share 96.42 103.63 106.54

AAMMF Profile 1 – “A” Number of shares 554,968 501,669 433,013Total net assets EUR 59,348,278 54,298,169 46,866,835Net asset value per Share 106.94 108.24 108.23

AAMMF Profile 1 – “I” Number of shares - 0(1) 0(1)

Total net assets EUR - 157 157Net asset value per Share - 15,691.00 15,707.00

AAMMF Profile 2 – “A” Number of shares 2,974,905 2,752,966 2,430,345Total net assets EUR 421,365,544 400,476,716 356,705,781Net asset value per Share 141.64 145.47 146.77

AAMMF Profile 2 – “Profilfunds A” Number of shares 100 49,744 116,686Total net assets EUR 9,964 5,072,480 11,677,067Net asset value per Share 99.64 101.97 100.07

AAMMF Profile 3 – “A” Number of shares 8,841,386 8,543,430 7,817,369Total net assets EUR 1,236,998,315 1,247,392,018 1,161,493,573Net asset value per Share 139.91 146.01 148.58

AAMMF Profile 3 – “I” Number of shares 216,715 304,591 355,012Total net assets EUR 21,487,292 31,535,245 37,415,455Net asset value per Share 99.15 103.53 105.39

AAMMF Profile 4 – “A” Number of shares 7,064,711 6,920,917 6,526,611Total net assets EUR 1,183,056,504 1,224,919,193 1,188,203,777Net asset value per Share 167.46 176.99 182.06

HISTORY (continued)

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31-12-2015 31-12-2016 30-06-2017

AAMMF Profile 4 – “Profilfunds B” Number of shares 100 156,824 323,916Total net assets EUR 9,909 16,326,023 34,069,541Net asset value per Share 99.09 104.10 105.18

AAMMF Profile 5 – “A” Number of shares 1,808,026 1,773,901 1,741,335Total net assets EUR 309,087,827 324,231,074 330,257,101Net asset value per Share 170.95 182.78 189.66

AAMMF Profile 6 – “A” Number of shares 972,938 898,093 865,641Total net assets EUR 154,862,541 154,130,971 156,659,980Net asset value per Share 159.17 171.62 180.98

AAMMF Profile 6 – “I” Number of shares - 23,049 22,449Total net assets EUR - 498,974 512,475Net asset value per Share - 21.65 22.83

AAMMF Profile 6 – “Profilfunds C” Number of shares 100 94,925 221,887Total net assets EUR 9,860 10,022,843 24,225,956Net asset value per Share 98.60 105.59 109.18

AAMMF Verzekeringen BeleggingsfondsZeer Defensief – “A” (2)


AAMMF Verzekeringen BeleggingsfondsDefensief – “A” (3)


AAMMF Verzekeringen BeleggingsfondsMatig Defensief – “A” (4)


AAMMF Verzekeringen BeleggingsfondsMatig Offensief – “A” (5)


AAMMF Verzekeringen BeleggingsfondsOffensief – “A” (6)


AAMMF Verzekeringen BeleggingsfondsZeer Offensief – “A” (7)


AAMMF Global Property Index – “A” Number of shares 102 40 40Total net assets EUR 13,985 5,867 5,661Net asset value per Share 137.11 146.67 141.52

AAMMF Global Property Index – “C” Number of shares 403 333 111Total net assets EUR 53,897 47,688 15,345Net asset value per Share 133.74 143.21 138.24

AAMMF Global Property Index – “I” Number of shares 100 100 100Total net assets EUR 12,710 13,609 13,136Net asset value per Share 127.10 136.09 131.36

HISTORY (continued)

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AAMMF Global Property Index –“Neuflize Global Immobilier A”

Number of shares 220 378 378Total net assets EUR 27,623 50,768 48,982Net asset value per Share 125.56 134.31 129.58

AAMMF Global Sustainable Equities –“A”

Number of shares 928 185 160Total net assets EUR 122,635 25,930 23,472Net asset value per Share 132.15 140.16 146.70

AAMMF Global Sustainable Equities –“C”


AAMMF Global Sustainable Equities –“E”

Number of shares 864,475 1,415,676 1,271,422Total net assets EUR 110,479,905 193,947,087 183,283,392Net asset value per Share 127.80 137.00 144.16

AAMMF Global Sustainable Equities –“F”


AAMMF Global Sustainable Equities –“Neuflize Monde ISR A”

Number of shares 2,092 2,953 5,594Total net assets EUR 275,475 411,630 815,378Net asset value per Share 131.68 139.40 145.77

AAMMF Alger US Equities – “A-EUR” Number of shares 72,130 81,671 64,253Total net assets EUR 12,596,783 14,815,209 12,588,258Net asset value per Share 174.64 181.40 195.92

AAMMF Alger US Equities – “A-USD” Number of shares 44,564 30,587 20,615Total net assets USD 4,413,173 3,053,837 2,403,158Net asset value per Share 99.03 99.84 116.57

AAMMF Alger US Equities – “C” Number of shares 1,864,228 943,602 732,168Total net assets EUR 332,690,129 176,548,837 148,611,023Net asset value per Share 178.46 187.10 202.97

AAMMF Alger US Equities – “F” Number of shares - 3,479 8,355Total net assets EUR - 393,207 1,023,630Net asset value per Share - 113.02 122.51

AAMMF Aristotle US Equities – “A-EUR” Number of shares 178,974 373,380 312,514Total net assets EUR 27,520,832 68,352,122 57,831,359Net asset value per Share 153.77 183.06 185.05

AAMMF Aristotle US Equities – “A-USD” Number of shares 112,009 47,957 41,184Total net assets USD 13,326,831 6,593,500 6,188,085Net asset value per Share 118.98 137.49 150.25

AAMMF Aristotle US Equities – “AHEUR”

Number of shares 100 9,104 1,111Total net assets EUR 9,866 1,025,779 135,664Net asset value per Share 98.66 112.67 122.12

AAMMF Aristotle US Equities – “C” Number of shares 2,063,869 1,347,445 1,114,014Total net assets EUR 324,357,652 254,310,032 213,460,679Net asset value per Share 157.16 188.74 191.61

HISTORY (continued)

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AAMMF Aristotle US Equities – “D” Number of shares - 10 10Total net assets EUR - 1,091 1,108Net asset value per Share - 109.09 110.79

AAMMF Aristotle US Equities – “F” Number of shares - 45,722 104,649Total net assets EUR - 5,608,053 13,023,136Net asset value per Share - 122.66 124.45

AAMMF Aristotle US Equities – “I-EUR” Number of shares - 531,740 698,635Total net assets EUR - 67,257,134 89,678,916Net asset value per Share - 126.49 128.36

AAMMF Aristotle US Equities – “I-USD” Number of shares 1,512,874 2,465,328 3,616,723Total net assets USD 187,687,148 356,237,404 573,398,937Net asset value per Share 124.06 144.50 158.54

AAMMF Aristotle US Equities – “IHEUR”


AAMMF Aristotle US Equities – “NeuflizeUSA Value A”


AAMMF Brown US Equities – “A-EUR” Number of shares 14,806 - -Total net assets EUR 2,314,178 - -Net asset value per Share 156.30 - -

AAMMF Brown US Equities – “C” Number of shares 208,185 - -Total net assets EUR 33,215,917 - -Net asset value per Share 159.55 - -

AAMMF Brown US Equities – “F” Number of shares - - -Total net assets EUR - - -Net asset value per Share - - -

AAMMF Edinburgh Partners EuropeanEquities – “A”


AAMMF Edinburgh Partners EuropeanEquities – “C”


AAMMF Edinburgh Partners EuropeanEquities – “F”


AAMMF Hermes European Equities – “A” Number of shares 187,572 171,355 121,935Total net assets EUR 24,288,698 22,052,524 16,909,328Net asset value per Share 129.49 128.70 138.68

AAMMF Hermes European Equities – “C” Number of shares 3,936,861 3,236,735 2,143,388Total net assets EUR 521,476,608 429,822,224 308,078,557Net asset value per Share 132.46 132.80 143.73

HISTORY (continued)

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31-12-2015 31-12-2016 30-06-2017

AAMMF Hermes European Equities – “F” Number of shares - 10 10Total net assets EUR - 1,075 1,164Net asset value per Share - 107.51 116.42

AAMMF Pzena European Equities –“A-EUR”


AAMMF Pzena European Equities – “C” Number of shares 2,194,406 2,982,504 3,724,978Total net assets EUR 291,636,557 431,499,731 565,603,301Net asset value per Share 132.90 144.68 151.84

AAMMF Pzena European Equities – “D” Number of shares - 10 10Total net assets EUR - 1,102 1,157Net asset value per Share - 110.16 115.74

AAMMF Pzena European Equities – “F” Number of shares - 5,768 19,019Total net assets EUR - 662,861 2,292,457Net asset value per Share - 114.92 120.54

AAMMF Pzena European Equities – “I” Number of shares 704,276 1,919,924 2,893,842Total net assets EUR 85,485,021 253,518,253 400,891,745Net asset value per Share 121.38 132.05 138.53

AAMMF Pzena European Equities –“Neuflize Europe Value A”


AAMMF TCW US Equities – “A-EUR” Number of shares 10 57,247 38,984Total net assets EUR 1,393 9,552,234 6,373,533Net asset value per Share 139.30 166.86 163.49

AAMMF TCW US Equities – “A-USD” Number of shares 22,291 22,883 13,553Total net assets USD 2,162,004 2,581,591 1,619,584Net asset value per Share 96.99 112.82 119.50

AAMMF TCW US Equities – “C” Number of shares 1,318 1,335,465 704,695Total net assets EUR 187,551 229,662,587 119,283,723Net asset value per Share 142.30 171.97 169.27

AAMMF TCW US Equities – “F” Number of shares - 10 10Total net assets EUR - 1,211 1,190Net asset value per Share - 121.10 119.00

AAMMF Wellington European Equities –“A”


AAMMF Wellington European Equities –“C”


AAMMF Wellington European Equities –“F”


HISTORY (continued)

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AAMMF Henderson European SmallerCompanies Equities – “A”


AAMMF Henderson European SmallerCompanies Equities – “C”


AAMMF Henderson European SmallerCompanies Equities – “F”


AAMMF Blackrock Asia Pacific ex-JapanEquities – “A” (8)

Number of shares 7,650 3,595 3,190Total net assets USD 802,944 393,563 411,323Net asset value per Share 104.96 109.48 128.94

AAMMF Blackrock Asia Pacific ex-JapanEquities – “C” (8)

Number of shares 2,418 3,096 25,854Total net assets USD 258,267 347,280 3,428,788Net asset value per Share 106.81 112.17 132.62

AAMMF Blackrock Asia Pacific ex-JapanEquities – “E” (8)


AAMMF Blackrock Asia Pacific ex-JapanEquities – “F” (8)


AAMMF Blackrock Asia Pacific ex-JapanEquities – “Neuflize Asie A” (8)


AAMMF Boston Partners US SmallerCompanies Equities – “A-EUR”

Number of shares 3,931 45,358 39,682Total net assets EUR 495,503 7,172,096 5,984,992Net asset value per Share 126.05 158.12 150.82

AAMMF Boston Partners US SmallerCompanies Equities – “A-USD”

Number of shares 18,054 7,715 5,740Total net assets USD 1,751,960 912,090 699,797Net asset value per Share 97.04 118.22 121.92

AAMMF Boston Partners US SmallerCompanies Equities – “C”


AAMMF Boston Partners US SmallerCompanies Equities – “D”


AAMMF Boston Partners US SmallerCompanies Equities – “F”

Number of shares - 2,405 6,264Total net assets EUR - 313,559 781,790Net asset value per Share - 130.37 124.81

AAMMF Loomis US Equities – “A-EUR” Number of shares 362 79,972 73,189Total net assets EUR 56,468 13,565,197 13,574,139Net asset value per Share 155.99 169.62 185.47

HISTORY (continued)

15

31-12-2015 31-12-2016 30-06-2017

AAMMF Loomis US Equities – “A-USD” Number of shares 41,126 55,419 34,733Total net assets USD 4,074,353 5,798,025 4,295,565Net asset value per Share 99.07 104.62 123.67

AAMMF Loomis US Equities – “C” Number of shares 1,789,551 718,300 409,475Total net assets EUR 284,001,744 125,150,846 78,367,373Net asset value per Share 158.70 174.23 191.39

AAMMF Loomis US Equities – “F” Number of shares - 15,184 35,826Total net assets EUR - 1,765,300 4,570,979Net asset value per Share - 116.26 127.59

AAMMF Pzena US Equities – “A-EUR” Number of shares 263 77,899 75,229Total net assets EUR 34,137 12,843,392 11,783,341Net asset value per Share 129.80 164.87 156.63

AAMMF Pzena US Equities – “A-USD” Number of shares - 31,254 25,907Total net assets USD - 4,000,136 3,405,509Net asset value per Share - 127.99 131.45

AAMMF Pzena US Equities – “C” Number of shares 100 1,507,648 1,524,261Total net assets EUR 13,176 254,227,144 245,108,790Net asset value per Share 131.76 168.63 160.81

AAMMF Pzena US Equities – “D” Number of shares - 10 10Total net assets EUR - 1,175 1,121Net asset value per Share - 117.53 112.11

AAMMF Pzena US Equities – “F” Number of shares - 2,480 7,556Total net assets EUR - 325,163 944,804Net asset value per Share - 131.13 125.03

AAMMF Schroder Euro Corporate Bonds– “A”


AAMMF Schroder Euro Corporate Bonds– “C”

Number of shares 2,773,014 2,322,036 8,798Total net assets EUR 308,026,395 273,396,732 1,062,580Net asset value per Share 111.08 117.74 120.78

AAMMF Schroder Euro Corporate Bonds– “CH DUR”

Number of shares 1,183,073 2,722 2,446,337Total net assets EUR 117,159,719 274,827 254,399,438Net asset value per Share 99.03 100.97 103.99

AAMMF Schroder Euro Corporate Bonds– “F”


AAMMF Schroder Euro Corporate Bonds– “Neuflize Euro Corporate A”

Number of shares 357 1,986 3,725Total net assets EUR 39,188 229,445 439,766Net asset value per Share 109.77 115.53 118.06

AAMMF Insight Euro Corporate Bonds –“A”


HISTORY (continued)

16

31-12-2015 31-12-2016 30-06-2017

AAMMF Insight Euro Corporate Bonds –“C”


AAMMF Insight Euro Corporate Bonds –“F”


AAMMF Investec Emerging MarketEquities – “A-EUR”


AAMMF Investec Emerging MarketEquities – “A-USD”

Number of shares 37,209 12,871 9,818Total net assets USD 3,114,021 1,128,071 1038156Net asset value per Share 83.69 87.64 105.74

AAMMF Investec Emerging MarketEquities – “C-EUR”


AAMMF Investec Emerging MarketEquities – “C-USD”

Number of shares 100 100 100Total net assets USD 8,437 8,927 10,820Net asset value per Share 84.37 89.27 108.20

AAMMF Investec Emerging MarketEquities – “F”

Number of shares - 2,350 8,010Total net assets EUR - 262,287 1,002,795Net asset value per Share - 111.63 125.19

AAMMF Henderson European Equities –“A”


AAMMF Henderson European Equities –“C”


AAMMF Henderson European Equities –“F”


AAMMF Numeric Emerging MarketEquities – “A-EUR”


AAMMF Numeric Emerging MarketEquities – “A-USD”

Number of shares 250 152,300 31,749Total net assets USD 20,410 14,545,412 3,644,291Net asset value per Share 81.64 95.51 114.79

AAMMF Numeric Emerging MarketEquities – “C-EUR”

Number of shares 150 2,310,839 2,392,144Total net assets EUR 12,215 229,212,120 265,195,476Net asset value per Share 81.43 99.19 110.86

AAMMF Numeric Emerging MarketEquities – “C-USD”

Number of shares 250 3,763 3,136Total net assets USD 20,563 365,997 368,560Net asset value per Share 82.25 97.26 117.53

HISTORY (continued)

17

31-12-2015 31-12-2016 30-06-2017

AAMMF Numeric Emerging MarketEquities – “D”

Number of shares - 10 2,000Total net assets EUR - 968 216,310Net asset value per Share - 96.81 108.16

AAMMF Numeric Emerging MarketEquities – “F”


AAMMF Numeric Emerging MarketEquities – “I-USD”

Number of shares - 10 66,010Total net assets USD - 961 7,658,008Net asset value per Share - 96.06 116.01

AAMMF William Blair Emerging MarketEquities – “A-EUR”

Number of shares 150 34,350 137,889Total net assets USD 11,954 2,856,398 12,680,381Net asset value per Share 79.69 83.16 91.96

AAMMF William Blair Emerging MarketEquities – “A-USD”


AAMMF William Blair Emerging MarketEquities – “C-EUR”


AAMMF William Blair Emerging MarketEquities – “C-USD”

Number of shares 100 100 100Total net assets USD 8,117 8,314 9,990Net asset value per Share 81.17 83.14 99.90

AAMMF William Blair Emerging MarketEquities – “F”

Number of shares - 2,473 108,954Total net assets USD - 267,919 13,117,963Net asset value per Share - 108.34 120.40

AAMMF Verrazzano Europe Long Short –“A”

Number of shares 1,279,739 817,689 577,287Total net assets EUR 137,098,439 84,598,018 59,517,218Net asset value per Share 107.13 103.46 103.10

AAMMF Verrazzano Europe Long Short –“C”


AAMMF Verrazzano Europe Long Short –“F”


AAMMF Verrazzano Europe Long Short –“I”

Number of shares 71 42 31Total net assets EUR 19,091,680 11,039,175 8,109,164Net asset value per Share 268,896.90 261,096.86 260,879.04

AAMMF Verrazzano Europe Long Short –“Neuflize Europe Long Short C”


AAMMF Verrazzano Europe Long Short –“Neuflize Europe Long Short SC”

Number of shares 1,058 1,058 745Total net assets EUR 12,427,786 12,184,514 8,615,741Net asset value per Share 11,746.49 11,516.55 11,564.75

HISTORY (continued)

18

31-12-2015 31-12-2016 30-06-2017

AAMMF Kempen Euro Corporate Bonds –“A”

Number of shares 500 90,508 2,927Total net assets EUR 50,455 9,556,287 310,554Net asset value per Share 100.91 105.59 106.11

AAMMF Kempen Euro Corporate Bonds –“AH DUR”


AAMMF Kempen Euro Corporate Bonds –“C”

Number of shares 500 100 908,780Total net assets EUR 50,455 10,567 96,591,197Net asset value per Share 100.91 105.67 106.29

AAMMF Kempen Euro Corporate Bonds –“CH DUR”

Number of shares 1,200 1,450 19,450Total net assets EUR 119,916 146,444 1,984,569Net asset value per Share 99.93 101.00 102.03

AAMMF Kempen Euro Corporate Bonds –“F”

Number of shares - 570 1,303Total net assets EUR - 58,450 134,373Net asset value per Share - 102.59 103.10

AAMMF Comfort Invest II – “B” Number of shares - 47,870 49,655Total net assets EUR - 4,909,101 5,100,115Net asset value per Share - 102.55 102.71

AAMMF Comfort Invest III – “B” Number of shares - 190,205 311,066Total net assets EUR - 19,838,583 32,699,207Net asset value per Share - 104.30 105.12

AAMMF Comfort Invest IV – “B” Number of shares - 224,680 444,986Total net assets EUR - 24,032,617 48,328,778Net asset value per Share - 106.96 108.61

AAMMF Blackrock Euro GovernmentBonds – “C”

Number of shares - 1,376,882 1,251,719Total net assets EUR - 138,282,562 125,490,349Net asset value per Share - 100.43 100.25

AAMMF Natixis Euro Government Bonds– “C”


AAMMF Insight Euro Government Bonds– “C”


AAMMF European Equities – “I” Number of shares - 20,000 21,950Total net assets EUR - 2,032,277 2,480,966Net asset value per Share - 101.61 113.03

AAMMF Edentree European SustainableEquities – “A” (9)

Number of shares - - 106Total net assets EUR - - 11,316Net asset value per Share - - 106.49

AAMMF Edentree European SustainableEquities – “C” (10)

Number of shares - - 818,127Total net assets EUR - - 87,357,976Net asset value per Share - - 106.78

HISTORY (continued)

19

31-12-2015 31-12-2016 30-06-2017

AAMMF Edentree European SustainableEquities – “F” (11)


AAMMF Parnassus US SustainableEquities – “A-EUR” (12)


AAMMF Parnassus US SustainableEquities – “C” (13)


AAMMF Parnassus US SustainableEquities – “F” (14)


(1) The number of shares outstanding is less than 0.05.(2) The Sub-fund AAMMF Verzekeringen Profile 1 changed name to AAMMF Verzekeringen Beleggingsfonds Zeer Defensief on 13 June 2017.(3) The Sub-fund AAMMF Verzekeringen Profile 2 changed name to AAMMF Verzekeringen Beleggingsfonds Defensief on 13 June 2017.(4) The Sub-fund AAMMF Verzekeringen Profile 3 changed name to AAMMF Verzekeringen Beleggingsfonds Matig Defensief on 13 June 2017.(5) The Sub-fund AAMMF Verzekeringen Profile 4 changed name to AAMMF Verzekeringen Beleggingsfonds Matig Offensief on 13 June 2017.(6) The Sub-fund AAMMF Verzekeringen Profile 5 changed name to AAMMF Verzekeringen Beleggingsfonds Offensief on 13 June 2017.(7) The Sub-fund AAMMF Verzekeringen Profile 6 changed name to AAMMF Verzekeringen Beleggingsfonds Zeer Offensief on 13 June 2017.(8) The Sub-fund AAMMF Asian Equities changed name to AAMMF Blackrock Asia Pacific ex-Japan Equities on 1 January 2017.(9) The Sub-fund AAMMF Edentree European Sustainable Equities has launched A class on 19 January 2017.(10) The Sub-fund AAMMF Edentree European Sustainable Equities has launched C class on 19 January 2017.(11) The Sub-fund AAMMF Edentree European Sustainable Equities has launched F class on 19 January 2017.(12) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched A-EUR class on 19 January 2017.(13) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched C class on 19 January 2017.(14) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched F class on 19 January 2017.

HISTORY (continued)

20

Performance on6 months*

AAMMF Fund of Mandates Asia-Pacific Equities – “A-EUR” 7.81AAMMF Fund of Mandates Asia-Pacific Equities – “A-USD” 16.55AAMMF Fund of Mandates Asia-Pacific Equities – “C-EUR” 8.39AAMMF Fund of Mandates Asia-Pacific Equities – “C-USD” 17.18AAMMF Fund of Mandates Asia-Pacific Equities – “F” 8.34AAMMF Fund of Mandates Asia-Pacific Equities – “I-USD” 17.33AAMMF Fund of Mandates Euro Government Bonds – “A” (0.52)AAMMF Fund of Mandates Euro Government Bonds – “C” (0.19)AAMMF Fund of Mandates Euro Government Bonds – “CH DUR” (0.33)AAMMF Fund of Mandates Euro Government Bonds – “F” (0.25)AAMMF Fund of Mandates European Equities – “A-EUR” 6.51AAMMF Fund of Mandates European Equities – “A-USD” 15.16AAMMF Fund of Mandates European Equities – “C-EUR” 7.09AAMMF Fund of Mandates European Equities – “C-USD” 15.78AAMMF Fund of Mandates European Equities – “F” 7.03AAMMF Fund of Mandates European Equities – “I-EUR” 7.01AAMMF Fund of Mandates North American Equities – “A-EUR” 1.29AAMMF Fund of Mandates North American Equities – “A-USD” 9.50AAMMF Fund of Mandates North American Equities – “C-EUR” 1.73AAMMF Fund of Mandates North American Equities – “C-USD” 9.98AAMMF Fund of Mandates North American Equities – “F” 1.66AAMMF Fund of Mandates North American Equities – “I-USD” 9.93AAMMF Fund of Mandates North American Equities – “Neuflize USA A” 1.29AAMMF Fund of Mandates Emerging Market Equities – “A-EUR” 10.99AAMMF Fund of Mandates Emerging Market Equities – “A-USD” 20.00AAMMF Fund of Mandates Emerging Market Equities – “C-EUR” 11.55AAMMF Fund of Mandates Emerging Market Equities – “F” 11.51AAMMF Fund of Mandates Euro Corporate Bonds – “A” 1.18AAMMF Fund of Mandates Euro Corporate Bonds – “AH DUR” 1.48AAMMF Fund of Mandates Euro Corporate Bonds – “C” 1.48AAMMF Fund of Mandates Euro Corporate Bonds – “CH DUR” 1.78AAMMF Fund of Mandates Euro Corporate Bonds – “F” 1.42AAMMF Fund of Mandates Flexible Bonds – “A” 2.95AAMMF Fund of Mandates Flexible Bonds – “AH EUR” 2.00AAMMF Fund of Mandates Flexible Bonds – “C” 3.27AAMMF Fund of Mandates Flexible Bonds – “CH EUR” 2.39AAMMF Pension Lifecycle 2015 – “A” (2.48)AAMMF Pension Lifecycle 2015 – “P” (2.47)AAMMF Pension Lifecycle 2020 – “A” (1.19)AAMMF Pension Lifecycle 2020 – “P” (1.16)AAMMF Pension Lifecycle 2025 – “A” 0.98AAMMF Pension Lifecycle 2025 – “P” 1.00AAMMF Pension Lifecycle 2030 – “A” 2.54AAMMF Pension Lifecycle 2030 – “P” 2.56AAMMF Pension Lifecycle 2035 – “A” 2.77AAMMF Pension Lifecycle 2035 – “P” 2.79AAMMF Pension Lifecycle 2040 – “A” 2.77AAMMF Pension Lifecycle 2040 – “P” 2.79AAMMF Pension Lifecycle 2045 – “A” 2.73AAMMF Pension Lifecycle 2045 – “P” 2.75AAMMF Pension Lifecycle 2050 – “A” 2.78AAMMF Pension Lifecycle 2050 – “P” 2.78AAMMF Pension Lifecycle 2055 – “A” 2.78AAMMF Pension Lifecycle 2055 – “P” 2.80AAMMF Profile 1 – “A” (0.00)AAMMF Profile 1 – “I” 0.10AAMMF Profile 2 – “A” 0.89AAMMF Profile 2 – “Profilfunds A” (1.86)AAMMF Profile 3 – “A” 1.76AAMMF Profile 3 – “I” 1.80AAMMF Profile 4 – “A” 2.86AAMMF Profile 4 – “Profilfunds B” 1.04AAMMF Profile 5 – “A” 3.76AAMMF Profile 6 – “A” 5.45AAMMF Profile 6 – “I” 5.45

ABN AMRO MULTI-MANAGER FUNDSPERFORMANCE FOR THE YEAR/PERIOD ENDED 30-06-2017 (%)

21


AAMMF Profile 6 – “Profilfunds C” 3.40AAMMF Verzekeringen Beleggingsfonds Zeer Defensief – “A” (1) (0.52)AAMMF Verzekeringen Beleggingsfonds Defensief – “A” (2) 0.34AAMMF Verzekeringen Beleggingsfonds Matig Defensief – “A” (3) 1.12AAMMF Verzekeringen Beleggingsfonds Matig Offensief – “A” (4) 2.22AAMMF Verzekeringen Beleggingsfonds Offensief – “A” (5) 3.15AAMMF Verzekeringen Beleggingsfonds Zeer Offensief – “A” (6) 4.90AAMMF Global Property Index – “A” (3.51)AAMMF Global Property Index – “C” (3.47)AAMMF Global Property Index – “I” (3.48)AAMMF Global Property Index – “Neuflize Global Immobilier A” (3.52)AAMMF Global Sustainable Equities – “A” 4.67AAMMF Global Sustainable Equities – “C” 5.01AAMMF Global Sustainable Equities – “E” 5.22AAMMF Global Sustainable Equities – “F” 4.98AAMMF Global Sustainable Equities – “Neuflize Monde ISR A” 4.57AAMMF Alger US Equities – “A-EUR” 8.00AAMMF Alger US Equities – “A-USD” 16.76AAMMF Alger US Equities – “C” 8.48AAMMF Alger US Equities – “F” 8.40AAMMF Aristotle US Equities – “A-EUR” 1.09AAMMF Aristotle US Equities – “A-USD” 9.29AAMMF Aristotle US Equities – “AH EUR” 8.39AAMMF Aristotle US Equities – “C” 1.53AAMMF Aristotle US Equities – “D” 1.55AAMMF Aristotle US Equities – “F” 1.46AAMMF Aristotle US Equities – “I-EUR” 1.48AAMMF Aristotle US Equities – “I-USD” 9.72AAMMF Aristotle US Equities – “IH EUR” 8.67AAMMF Aristotle US Equities – “Neuflize USA Value A” 1.09AAMMF Edinburgh Partners European Equities – “A” 3.63AAMMF Edinburgh Partners European Equities – “C” 4.04AAMMF Edinburgh Partners European Equities – “F” 4.02AAMMF Hermes European Equities – “A” 7.75AAMMF Hermes European Equities – “C” 8.24AAMMF Hermes European Equities – “F” 8.29AAMMF Pzena European Equities – “A-EUR” 4.50AAMMF Pzena European Equities – “C” 4.95AAMMF Pzena European Equities – “D” 5.06AAMMF Pzena European Equities – “F” 4.89AAMMF Pzena European Equities – “I” 4.91AAMMF Pzena European Equities – “Neuflize Europe Value A” 4.50AAMMF TCW US Equities – “A-EUR” (2.02)AAMMF TCW US Equities – “A-USD” 5.92AAMMF TCW US Equities – “C” (1.57)AAMMF TCW US Equities – “F” (1.73)AAMMF Wellington European Equities – “A” 12.54AAMMF Wellington European Equities – “C” 12.99AAMMF Wellington European Equities – “F” 13.02AAMMF Henderson European Smaller Companies Equities – “A” 14.25AAMMF Henderson European Smaller Companies Equities – “C” 14.62AAMMF Henderson European Smaller Companies Equities – “F” 14.68AAMMF Blackrock Asia Pacific ex-Japan Equities – “A” (7) 17.78AAMMF Blackrock Asia Pacific ex-Japan Equities – “C” (7) 18.23AAMMF Blackrock Asia Pacific ex-Japan Equities – “E” (7) 9.37AAMMF Blackrock Asia Pacific ex-Japan Equities – “F” (7) 9.32AAMMF Blackrock Asia Pacific ex-Japan Equities – “Neuflize Asie A” (7) 8.95AAMMF Boston Partners US Smaller Companies Equities – “A-EUR” (4.62)AAMMF Boston Partners US Smaller Companies Equities – “A-USD” 3.12AAMMF Boston Partners US Smaller Companies Equities – “C” (4.27)AAMMF Boston Partners US Smaller Companies Equities – “D” (4.26)AAMMF Boston Partners US Smaller Companies Equities – “F” (4.26)AAMMF Loomis US Equities – “A-EUR” 9.34AAMMF Loomis US Equities – “A-USD” 18.21

ABN AMRO MULTI-MANAGER FUNDSPERFORMANCE FOR THE YEAR/PERIOD ENDED 30-06-2017 (%) (continued)

22


AAMMF Loomis US Equities – “C” 9.84AAMMF Loomis US Equities – “F” 9.74AAMMF Pzena US Equities – “A-EUR” (5.00)AAMMF Pzena US Equities – “A-USD” 2.71AAMMF Pzena US Equities – “C” (4.64)AAMMF Pzena US Equities – “D” (4.61)AAMMF Pzena US Equities – “F” (4.65)AAMMF Schroder Euro Corporate Bonds – “A” 2.24AAMMF Schroder Euro Corporate Bonds – “C” 2.58AAMMF Schroder Euro Corporate Bonds – “CH DUR” 3.00AAMMF Schroder Euro Corporate Bonds – “F” 2.46AAMMF Schroder Euro Corporate Bonds – “Neuflize Euro Corporate A” 2.19AAMMF Insight Euro Corporate Bonds – “A” 0.98AAMMF Insight Euro Corporate Bonds – “C” 1.30AAMMF Insight Euro Corporate Bonds – “F” 1.21AAMMF Investec Emerging Market Equities – “A-EUR” 11.60AAMMF Investec Emerging Market Equities – “A-USD” 20.65AAMMF Investec Emerging Market Equities – “C-EUR” 12.11AAMMF Investec Emerging Market Equities – “C-USD” 21.21AAMMF Investec Emerging Market Equities – “F” 12.15AAMMF Henderson European Equities – “A” 5.63AAMMF Henderson European Equities – “C” 6.08AAMMF Henderson European Equities – “F” 6.03AAMMF Numeric Emerging Market Equities – “A-EUR” 11.17AAMMF Numeric Emerging Market Equities – “A-USD” 20.19AAMMF Numeric Emerging Market Equities – “C-EUR” 11.77AAMMF Numeric Emerging Market Equities – “C-USD” 20.83AAMMF Numeric Emerging Market Equities – “D” 11.72AAMMF Numeric Emerging Market Equities – “F” 11.72AAMMF Numeric Emerging Market Equities – “I-USD” 20.78AAMMF William Blair Emerging Market Equities – “A-EUR” 10.59AAMMF William Blair Emerging Market Equities – “A-USD” 19.56AAMMF William Blair Emerging Market Equities – “C-EUR” 11.15AAMMF William Blair Emerging Market Equities – “C-USD” 20.16AAMMF William Blair Emerging Market Equities – “F” 11.13AAMMF Verrazzano Europe Long Short – “A” (0.35)AAMMF Verrazzano Europe Long Short – “C” (0.10)AAMMF Verrazzano Europe Long Short – “F” (0.23)AAMMF Verrazzano Europe Long Short – “I” (0.08)AAMMF Verrazzano Europe Long Short – “Neuflize Europe Long Short C” (0.10)AAMMF Verrazzano Europe Long Short – “Neuflize Europe Long Short SC” 0.42AAMMF Kempen Euro Corporate Bonds – “A” 0.50AAMMF Kempen Euro Corporate Bonds – “AH DUR” 0.56AAMMF Kempen Euro Corporate Bonds – “C” 0.58AAMMF Kempen Euro Corporate Bonds – “CH DUR” 1.03AAMMF Kempen Euro Corporate Bonds – “F” 0.50AAMMF Comfort Invest II – “B” 0.16AAMMF Comfort Invest III – “B” 0.79AAMMF Comfort Invest IV – “B” 1.54AAMMF Blackrock Euro Government Bonds – “C” (0.18)AAMMF Natixis Euro Government Bonds – “C” (0.59)AAMMF Insight Euro Government Bonds – “C” 0.36AAMMF European Equities – “I” 11.23AAMMF Edentree European Sustainable Equities – “A” (8) 6.49AAMMF Edentree European Sustainable Equities – “C” (9) 6.78AAMMF Edentree European Sustainable Equities – “F” (10) 6.86AAMMF Parnassus US Sustainable Equities – “A-EUR” (11) (2.50)AAMMF Parnassus US Sustainable Equities – “C” (12) (2.30)AAMMF Parnassus US Sustainable Equities – “F” (13) (2.20)

* Performance is not calculated on 6 months for all Sub-funds due to the launch date.(1) The Sub-fund AAMMF Verzekeringen Profile 1 changed name to AAMMF Verzekeringen Beleggingsfonds Zeer Defensief on 13 June 2017.(2) The Sub-fund AAMMF Verzekeringen Profile 2 changed name to AAMMF Verzekeringen Beleggingsfonds Defensief on 13 June 2017.(3) The Sub-fund AAMMF Verzekeringen Profile 3 changed name to AAMMF Verzekeringen Beleggingsfonds Matig Defensief on 13 June 2017.(4) The Sub-fund AAMMF Verzekeringen Profile 4 changed name to AAMMF Verzekeringen Beleggingsfonds Matig Offensief on 13 June 2017.


23

(5) The Sub-fund AAMMF Verzekeringen Profile 5 changed name to AAMMF Verzekeringen Beleggingsfonds Offensief on 13 June 2017.(6) The Sub-fund AAMMF Verzekeringen Profile 6 changed name to AAMMF Verzekeringen Beleggingsfonds Zeer Offensief on 13 June 2017.(7) The Sub-fund AAMMF Asian Equities changed name to AAMMF Blackrock Asia Pacific ex-Japan Equities on 1 January 2017.(8) The Sub-fund AAMMF Edentree European Sustainable Equities has launched A class on 19 January 2017.(9) The Sub-fund AAMMF Edentree European Sustainable Equities has launched C class on 19 January 2017.(10) The Sub-fund AAMMF Edentree European Sustainable Equities has launched F class on 19 January 2017.(11) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched A-EUR class on 19 January 2017.(12) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched C class on 19 January 2017.(13) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched F class on 19 January 2017.


24

Number of sharesoutstanding

as at31-12-2016

Numberof shares

issued

Numberof shares

redeemed


as at30-06-2017

AAMMF Fund of Mandates Asia-Pacific Equities – “A-EUR” 832,303 114,366 (221,244) 725,425

AAMMF Fund of Mandates Asia-Pacific Equities – “A-USD” 135,474 9,744 (44,438) 100,780

AAMMF Fund of Mandates Asia-Pacific Equities – “C-EUR” 2,848,997 262,136 (355,447) 2,755,686

AAMMF Fund of Mandates Asia-Pacific Equities – “C-USD” 10,519 1,071 (4,256) 7,334

AAMMF Fund of Mandates Asia-Pacific Equities – “F” 88,188 96,557 (17,717) 167,028

AAMMF Fund of Mandates Asia-Pacific Equities – “I-USD” 0(1) 205 0 205

AAMMF Fund of Mandates Euro Government Bonds – “A” 177,148 5,949 (61,070) 122,027

AAMMF Fund of Mandates Euro Government Bonds – “C” 2,410,382 77,360 (82,620) 2,405,122

AAMMF Fund of Mandates Euro Government Bonds – “CH DUR” 580,407 43,796 (68,962) 555,241

AAMMF Fund of Mandates Euro Government Bonds – “F” 45,933 35,173 (18,300) 62,806

AAMMF Fund of Mandates European Equities – “A-EUR” 874,298 165,482 (179,337) 860,443

AAMMF Fund of Mandates European Equities – “A-USD” 43,233 61,564 (82,930) 21,867

AAMMF Fund of Mandates European Equities – “C-EUR” 5,805,709 951,041 (1,403,382) 5,353,368

AAMMF Fund of Mandates European Equities – “C-USD” 20,149 5,551 (11,782) 13,918

AAMMF Fund of Mandates European Equities – “F” 10 0 0 10

AAMMF Fund of Mandates European Equities – “I-EUR” 2,579 0 0 2,579

AAMMF Fund of Mandates North American Equities – “A-EUR” 1,807,084 142,587 (659,664) 1,290,007

AAMMF Fund of Mandates North American Equities – “A-USD” 37,495 1,856 (19,289) 20,062

AAMMF Fund of Mandates North American Equities – “C-EUR” 2,610,988 68,839 (896,352) 1,783,475

AAMMF Fund of Mandates North American Equities – “C-USD” 11,158 1,441 (6,862) 5,737

AAMMF Fund of Mandates North American Equities – “F” 87,479 126,777 (54,372) 159,884

AAMMF Fund of Mandates North American Equities – “I-USD” 431 0 0 431

AAMMF Fund of Mandates North American Equities – “Neuflize USA A” 3,868 272 (820) 3,320

AAMMF Fund of Mandates Emerging Market Equities – “A-EUR” 346,153 253,219 (145,345) 454,027

AAMMF Fund of Mandates Emerging Market Equities – “A-USD” 542 283 (40) 785

AAMMF Fund of Mandates Emerging Market Equities – “C-EUR” 1,601,504 520,282 (434,770) 1,687,016

AAMMF Fund of Mandates Emerging Market Equities – “F” 10 0 0 10

AAMMF Fund of Mandates Euro Corporate Bonds – “A” 432,686 34,508 (290,173) 177,021

AAMMF Fund of Mandates Euro Corporate Bonds – “AH DUR” 189,461 265,874 (58,725) 396,610

AAMMF Fund of Mandates Euro Corporate Bonds – “C” 4,225,096 58,319 (2,148,000) 2,135,415

AAMMF Fund of Mandates Euro Corporate Bonds – “CH DUR” 1,505,243 2,163,903 (117,922) 3,551,224

AAMMF Fund of Mandates Euro Corporate Bonds – “F” 10 6,062 0 6,072

AAMMF Fund of Mandates Flexible Bonds – “A” 37,629 191,245 (10,095) 218,779

AAMMF Fund of Mandates Flexible Bonds – “AH EUR” 150,665 879 (150,879) 665

AAMMF Fund of Mandates Flexible Bonds – “C” 3,834 2,103,579 (45,237) 2,062,176

AAMMF Fund of Mandates Flexible Bonds – “CH EUR” 1,509,634 82,358 (1,509,482) 82,510

AAMMF Pension Lifecycle 2015 – “A” 99 16 (71) 44

AAMMF Pension Lifecycle 2015 – “P” 31,572 884 (20,344) 12,112

AAMMF Pension Lifecycle 2020 – “A” 135 71 0 206

AAMMF Pension Lifecycle 2020 – “P” 182,284 13,464 (132,842) 62,906

AAMMF Pension Lifecycle 2025 – “A” 3,175 139 (1) 3,313





STATEMENT OF CHANGES IN ISSUED SHARES

for the period ended 30 June 2017

25


as at31-12-2016

Numberof shares

issued

Numberof shares

redeemed


as at30-06-2017









AAMMF Pension Lifecycle 2055 – “P” 500 0 0 500

AAMMF Profile 1 – “A” 501,669 6,656 (75,312) 433,013

AAMMF Profile 1 – “I” 0(1) 0 0 0(1)

AAMMF Profile 2 – “A” 2,752,966 9,879 (332,500) 2,430,345

AAMMF Profile 2 – “Profilfunds A” 49,744 73,106 (6,164) 116,686

AAMMF Profile 3 – “A” 8,543,430 19,899 (745,960) 7,817,369

AAMMF Profile 3 – “I” 304,591 51,564 (1,143) 355,012

AAMMF Profile 4 – “A” 6,920,917 59,068 (453,374) 6,526,611

AAMMF Profile 4 – “Profilfunds B” 156,824 185,094 (18,002) 323,916

AAMMF Profile 5 – “A” 1,773,901 60,240 (92,806) 1,741,335

AAMMF Profile 6 – “A” 898,093 38,114 (70,566) 865,641

AAMMF Profile 6 – “I” 23,049 0 (600) 22,449

AAMMF Profile 6 – “Profilfunds C” 94,925 140,122 (13,160) 221,887

AAMMF Verzekeringen Beleggingsfonds Zeer Defensief – “A” (2) 85,913 2,343 (9,128) 79,128

AAMMF Verzekeringen Beleggingsfonds Defensief – “A” (3) 309,739 4,854 (29,180) 285,413

AAMMF Verzekeringen Beleggingsfonds Matig Defensief – “A” (4) 2,136,850 377 (163,871) 1,973,356

AAMMF Verzekeringen Beleggingsfonds Matig Offensief – “A” (5) 3,247,373 5,601 (206,171) 3,046,803

AAMMF Verzekeringen Beleggingsfonds Offensief – “A” (6) 1,535,398 4,680 (105,716) 1,434,362

AAMMF Verzekeringen Beleggingsfonds Zeer Offensief – “A” (7) 1,308,135 1,693 (115,798) 1,194,030

AAMMF Global Property Index – “A” 40 0 0 40

AAMMF Global Property Index – “C” 333 0 (222) 111

AAMMF Global Property Index – “I” 100 0 0 100

AAMMF Global Property Index – “Neuflize Global Immobilier A” 378 0 0 378

AAMMF Global Sustainable Equities – “A” 185 0 (25) 160

AAMMF Global Sustainable Equities – “C” 49,661 9,398 (25,936) 33,123

AAMMF Global Sustainable Equities – “E” 1,415,676 177,691 (321,945) 1,271,422

AAMMF Global Sustainable Equities – “F” 10 0 0 10

AAMMF Global Sustainable Equities – “Neuflize Monde ISR A” 2,953 2,688 (47) 5,594

AAMMF Alger US Equities – “A-EUR” 81,671 13,230 (30,648) 64,253

AAMMF Alger US Equities – “A-USD” 30,587 1,168 (11,140) 20,615

AAMMF Alger US Equities – “C” 943,602 25,383 (236,817) 732,168

AAMMF Alger US Equities – “F” 3,479 5,136 (260) 8,355

AAMMF Aristotle US Equities – “A-EUR” 373,380 79,651 (140,517) 312,514

AAMMF Aristotle US Equities – “A-USD” 47,957 9,962 (16,735) 41,184

AAMMF Aristotle US Equities – “AH EUR” 9,104 52,469 (60,462) 1,111

AAMMF Aristotle US Equities – “C” 1,347,445 32,839 (266,270) 1,114,014

AAMMF Aristotle US Equities – “D” 10 0 0 10

STATEMENT OF CHANGES IN ISSUED SHARES (continued)


26


as at31-12-2016

Numberof shares

issued

Numberof shares

redeemed


as at30-06-2017

AAMMF Aristotle US Equities – “F” 45,722 72,874 (13,947) 104,649

AAMMF Aristotle US Equities – “I-EUR” 531,740 168,661 (1,766) 698,635

AAMMF Aristotle US Equities – “I-USD” 2,465,328 1,387,604 (236,209) 3,616,723

AAMMF Aristotle US Equities – “IH EUR” 201,370 20,008 (208,368) 13,010

AAMMF Aristotle US Equities – “Neuflize USA Value A” 49,112 11,466 (6,556) 54,022

AAMMF Edinburgh Partners European Equities – “A” 159,351 29,153 (23,347) 165,157

AAMMF Edinburgh Partners European Equities – “C” 2,641,548 578,012 (73,096) 3,146,464

AAMMF Edinburgh Partners European Equities – “F” 450 0 0 450

AAMMF Hermes European Equities – “A” 171,355 12,994 (62,414) 121,935

AAMMF Hermes European Equities – “C” 3,236,735 87,971 (1,181,318) 2,143,388

AAMMF Hermes European Equities – “F” 10 0 0 10

AAMMF Pzena European Equities – “A-EUR” 461,446 173,681 (60,237) 574,890

AAMMF Pzena European Equities – “C” 2,982,504 998,895 (256,421) 3,724,978

AAMMF Pzena European Equities – “D” 10 0 0 10

AAMMF Pzena European Equities – “F” 5,768 13,738 (487) 19,019

AAMMF Pzena European Equities – “I” 1,919,924 1,265,111 (291,193) 2,893,842

AAMMF Pzena European Equities – “Neuflize Europe Value A” 47,892 16,154 (11,133) 52,913

AAMMF TCW US Equities – “A-EUR” 57,247 7,481 (25,744) 38,984

AAMMF TCW US Equities – “A-USD” 22,883 994 (10,324) 13,553

AAMMF TCW US Equities – “C” 1,335,465 43,466 (674,236) 704,695

AAMMF TCW US Equities – “F” 10 0 0 10

AAMMF Wellington European Equities – “A” 117,568 10,037 (41,488) 86,117

AAMMF Wellington European Equities – “C” 1,984,774 59,226 (296,120) 1,747,880

AAMMF Wellington European Equities – “F” 245 29 (264) 10

AAMMF Henderson European Smaller Companies Equities – “A” 203,660 13,009 (73,401) 143,268

AAMMF Henderson European Smaller Companies Equities – “C” 38,650 2,000 (33,300) 7,350

AAMMF Henderson European Smaller Companies Equities – “F” 103,517 111,302 (14,302) 200,517

AAMMF Blackrock Asia Pacific ex-Japan Equities – “A” (8) 3,595 670 (1,075) 3,190

AAMMF Blackrock Asia Pacific ex-Japan Equities – “C” (8) 3,096 26,037 (3,279) 25,854

AAMMF Blackrock Asia Pacific ex-Japan Equities – “E” (8) 90,405 82,094 (21,686) 150,813

AAMMF Blackrock Asia Pacific ex-Japan Equities – “F” (8) 10 0 0 10

AAMMF Blackrock Asia Pacific ex-Japan Equities – “Neuflize Asie A” (8) 98,930 2,538 (11,652) 89,816

AAMMF Boston Partners US Smaller Companies Equities – “A-EUR” 45,358 13,105 (18,781) 39,682

AAMMF Boston Partners US Smaller Companies Equities – “A-USD” 7,715 792 (2,767) 5,740

AAMMF Boston Partners US Smaller Companies Equities – “C” 513,214 17,173 (12,795) 517,592

AAMMF Boston Partners US Smaller Companies Equities – “D” 11,415 6,822 (2,805) 15,432

AAMMF Boston Partners US Smaller Companies Equities – “F” 2,405 4,020 (161) 6,264

AAMMF Loomis US Equities – “A-EUR” 79,972 11,299 (18,082) 73,189

AAMMF Loomis US Equities – “A-USD” 55,419 534 (21,220) 34,733

AAMMF Loomis US Equities – “C” 718,300 22,053 (330,878) 409,475

AAMMF Loomis US Equities – “F” 15,184 22,741 (2,099) 35,826

AAMMF Pzena US Equities – “A-EUR” 77,899 14,098 (16,768) 75,229

AAMMF Pzena US Equities – “A-USD” 31,254 6,809 (12,156) 25,907

AAMMF Pzena US Equities – “C” 1,507,648 59,417 (42,804) 1,524,261

AAMMF Pzena US Equities – “D” 10 0 0 10



27


as at31-12-2016

Numberof shares

issued

Numberof shares

redeemed


as at30-06-2017

AAMMF Pzena US Equities – “F” 2,480 5,234 (158) 7,556

AAMMF Schroder Euro Corporate Bonds – “A” 31,522 5,288 (6,214) 30,596

AAMMF Schroder Euro Corporate Bonds – “C” 2,322,036 5,831 (2,319,069) 8,798

AAMMF Schroder Euro Corporate Bonds – “CH DUR” 2,722 2,568,668 (125,053) 2,446,337

AAMMF Schroder Euro Corporate Bonds – “F” 1,339 2,411 (2) 3,748

AAMMF Schroder Euro Corporate Bonds – “Neuflize Euro Corporate A” 1,986 1,867 (128) 3,725

AAMMF Insight Euro Corporate Bonds – “A” 115,277 2,821 (34,775) 83,323

AAMMF Insight Euro Corporate Bonds – “C” 2,519,714 8,620 (1,190,166) 1,338,168

AAMMF Insight Euro Corporate Bonds – “F” 2,010 340 (250) 2,100

AAMMF Investec Emerging Market Equities – “A-EUR” 34,337 17,807 (14,778) 37,366

AAMMF Investec Emerging Market Equities – “A-USD” 12,871 4,163 (7,216) 9,818

AAMMF Investec Emerging Market Equities – “C-EUR” 1,259,113 877,873 (511,327) 1,625,659

AAMMF Investec Emerging Market Equities – “C-USD” 100 0 0 100

AAMMF Investec Emerging Market Equities – “F” 2,350 5,748 (88) 8,010

AAMMF Henderson European Equities – “A” 165,055 150,646 (68,805) 246,896

AAMMF Henderson European Equities – “C” 2,526,760 1,317,102 (534,227) 3,309,635

AAMMF Henderson European Equities – “F” 14,139 37,465 (19,077) 32,527

AAMMF Numeric Emerging Market Equities – “A-EUR” 378,118 119,984 (150,768) 347,334

AAMMF Numeric Emerging Market Equities – “A-USD” 152,300 48,285 (168,836) 31,749

AAMMF Numeric Emerging Market Equities – “C-EUR” 2,310,839 238,457 (157,152) 2,392,144

AAMMF Numeric Emerging Market Equities – “C-USD” 3,763 1,383 (2,010) 3,136

AAMMF Numeric Emerging Market Equities – “D” 10 1,990 0 2,000

AAMMF Numeric Emerging Market Equities – “F” 61,243 101,465 (11,473) 151,235

AAMMF Numeric Emerging Market Equities – “I-USD” 10 66,000 0 66,010

AAMMF William Blair Emerging Market Equities – “A-EUR” 34,350 118,541 (15,002) 137,889

AAMMF William Blair Emerging Market Equities – “A-USD” 13,932 411 (4,243) 10,100

AAMMF William Blair Emerging Market Equities – “C-EUR” 1,241,873 125,496 (39,183) 1,328,186

AAMMF William Blair Emerging Market Equities – “C-USD” 100 0 0 100

AAMMF William Blair Emerging Market Equities – “F” 2,473 107,838 (1,357) 108,954

AAMMF Verrazzano Europe Long Short – “A” 817,689 17,401 (257,803) 577,287

AAMMF Verrazzano Europe Long Short – “C” 56,012 1,052 (5,653) 51,411

AAMMF Verrazzano Europe Long Short – “F” 177,841 162,821 (48,214) 292,448

AAMMF Verrazzano Europe Long Short – “I” 42 2 (13) 31

AAMMF Verrazzano Europe Long Short – “Neuflize Europe Long Short C” 135,954 0 (38,257) 97,697

AAMMF Verrazzano Europe Long Short – “Neuflize Europe Long Short SC” 1,058 0 (313) 745

AAMMF Kempen Euro Corporate Bonds – “A” 90,508 3,109 (90,690) 2,927

AAMMF Kempen Euro Corporate Bonds – “AH DUR” 11,176 116,414 (1,206) 126,384

AAMMF Kempen Euro Corporate Bonds – “C” 100 925,742 (17,062) 908,780

AAMMF Kempen Euro Corporate Bonds – “CH DUR” 1,450 18,000 0 19,450

AAMMF Kempen Euro Corporate Bonds – “F” 570 736 (3) 1,303

AAMMF Comfort Invest II – “B” 47,870 7,035 (5,250) 49,655

AAMMF Comfort Invest III – “B” 190,205 157,381 (36,520) 311,066

AAMMF Comfort Invest IV – “B” 224,680 239,550 (19,244) 444,986

AAMMF Blackrock Euro Government Bonds – “C” 1,376,882 4,841 (130,004) 1,251,719

AAMMF Natixis Euro Government Bonds – “C” 2,004,068 7,159 (191,878) 1,819,349



28


as at31-12-2016

Numberof shares

issued

Numberof shares

redeemed


as at30-06-2017

AAMMF Insight Euro Government Bonds – “C” 1,550,968 4,975 (151,544) 1,404,399

AAMMF European Equities – “I” 20,000 21,950 (20,000) 21,950

AAMMF Edentree European Sustainable Equities – “A” (9) 0 106 0 106

AAMMF Edentree European Sustainable Equities – “C” (10) 0 825,573 (7,446) 818,127

AAMMF Edentree European Sustainable Equities – “F” (11) 0 10 0 10

AAMMF Parnassus US Sustainable Equities – “A-EUR” (12) 0 118 0 118

AAMMF Parnassus US Sustainable Equities – “C” (13) 0 531,746 (69,682) 462,064

AAMMF Parnassus US Sustainable Equities – “F” (14) 0 11,911 (337) 11,574

(1) The number of shares outstanding is less than 0.05.(2) The Sub-fund AAMMF Verzekeringen Profile 1 changed name to AAMMF Verzekeringen Beleggingsfonds Zeer Defensief on 13 June 2017.(3) The Sub-fund AAMMF Verzekeringen Profile 2 changed name to AAMMF Verzekeringen Beleggingsfonds Defensief on 13 June 2017.(4) The Sub-fund AAMMF Verzekeringen Profile 3 changed name to AAMMF Verzekeringen Beleggingsfonds Matig Defensief on 13 June 2017.(5) The Sub-fund AAMMF Verzekeringen Profile 4 changed name to AAMMF Verzekeringen Beleggingsfonds Matig Offensief on 13 June 2017.(6) The Sub-fund AAMMF Verzekeringen Profile 5 changed name to AAMMF Verzekeringen Beleggingsfonds Offensief on 13 June 2017.(7) The Sub-fund AAMMF Verzekeringen Profile 6 changed name to AAMMF Verzekeringen Beleggingsfonds Zeer Offensief on 13 June 2017.(8) The Sub-fund AAMMF Asian Equities changed name to AAMMF Blackrock Asia Pacific ex-Japan Equities on 1 January 2017.(9) The Sub-fund AAMMF Edentree European Sustainable Equities has launched A class on 19 January 2017.(10) The Sub-fund AAMMF Edentree European Sustainable Equities has launched C class on 19 January 2017.(11) The Sub-fund AAMMF Edentree European Sustainable Equities has launched F class on 19 January 2017.(12) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched A-EUR class on 19 January 2017.(13) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched C class on 19 January 2017.(14) The Sub-fund AAMMF Parnassus US Sustainable Equities has launched F class on 19 January 2017.



29

Statement of Investments and other net assets

AAMMF Fund of Mandates Asia-PacificEquities 30-06-2017

Quantity Transferable securities and money

market instruments admitted to an

official stock exchange listing

Currency Market

Value

% of

Net

Assets

SHARES USD %Australia1,382,125 Alumina AUD 2,035,506 0.36

215,585 Australia & New Zealand BankingGroup AUD 4,749,269 0.84

144,921 Bank of Queensland AUD 1,272,802 0.23165,272 BHP Billiton AUD 2,951,250 0.52319,388 BlueScope Steel AUD 3,236,267 0.57

46,075 Caltex Australia AUD 1,117,155 0.20114,915 carsales.com AUD 1,015,437 0.18

34,097 Commonwealth Bank of Australia AUD 2,165,821 0.3847,514 Computershare AUD 515,341 0.0952,510 CSL AUD 5,559,508 0.98

281,524 Downer EDI AUD 1,384,194 0.242,951,501 Fairfax Media AUD 2,490,344 0.44

429,703 Genworth Mortgage Insurance Australia AUD 965,738 0.1737,270 GrainCorp – A – AUD 270,728 0.05

185,186 Harvey Norman Holdings AUD 542,618 0.10581,528 HT&E AUD 1,177,602 0.21155,539 IOOF Holdings AUD 1,169,201 0.21

36,306 Lend Lease Group AUD 463,681 0.0819,033 Macquarie Group AUD 1,292,026 0.23

502,041 Mirvac Group AUD 820,244 0.1544,700 National Australia Bank AUD 1,014,556 0.1894,229 Newcrest Mining AUD 1,457,133 0.26

250,896 Oil Search AUD 1,312,509 0.23173,669 Origin Energy AUD 913,837 0.16163,040 OZ Minerals AUD 926,693 0.16

46,122 Perpetual AUD 1,976,562 0.35925,723 Qantas Airways AUD 4,061,635 0.72

1,211,775 Sigma Healthcare AUD 831,895 0.15455,713 South32 AUD 936,807 0.17296,992 Syrah Resources AUD 631,027 0.11

64,424 Westpac Banking AUD 1,507,695 0.27128,318 Whitehaven Coal AUD 282,484 0.05

49,552 Woodside Petroleum AUD 1,135,318 0.20

52,182,883 9.24Bangladesh

356,730 BRAC Bank BDT 357,195 0.06967,884 Square Pharmaceuticals BDT 3,483,876 0.62

3,841,071 0.68China8,357,424 Agricultural Bank of China – H – HKD 3,950,438 0.701,453,530 Air China – H – HKD 1,498,878 0.27

39,069 Alibaba Group Holding – ADR – USD 5,504,859 0.972,095,371 Aluminum of China – H – HKD 1,073,661 0.19

195,014 Anhui Conch Cement – H – HKD 678,239 0.1299,982 Autohome – ADR – USD 4,535,174 0.80

8,146 Baidu – ADR – USD 1,456,975 0.265,114,000 Bank of China – H – HKD 2,509,030 0.44

157,885 Baozu – ADR – USD 3,500,313 0.621,185,600 Central China Real Estate HKD 268,818 0.051,045,069 China CITIC Bank – H – HKD 639,911 0.111,529,376 China Forestry Holdings EUR 0 0.004,531,000 China Huarong Asset Management – H

– HKD 1,758,665 0.3143,635 China Lodging Group – ADR – USD 3,520,474 0.62

838,500 China National Materials – H – HKD 280,343 0.056,640,003 China Petroleum & Chemical – H – HKD 5,180,027 0.92

543,973 China Railway Group – H – HKD 428,548 0.08115,304 China Resources Pharmaceutical Group HKD 144,011 0.03548,623 China Southern Airlines – H – HKD 463,836 0.08

2,584,310 China Telecom – H – HKD 1,228,188 0.224,887,931 Chongqing Rural Commercial Bank – H

– HKD 3,299,758 0.581,100,345 CIFI Holdings Group HKD 489,108 0.092,654,000 Fufeng Group HKD 1,427,896 0.25

409,273 Guangshen Railway – H – HKD 202,895 0.04881,103 Hua Hong Semiconductor HKD 1,196,406 0.21

4,830,000 Huadian Fuxin Energy – H – HKD 1,157,005 0.201,746,899 Huaneng Power International – H – HKD 1,212,868 0.21

0 Huaneng Renewables – H – HKD 0 0.001,023,000 Huishang Bank – H – HKD 528,113 0.092,325,189 Industrial & Commercial Bank of China

– H – HKD 1,569,695 0.2866,119 JD.com – ADR – USD 2,593,169 0.46

226,785 Jiangxi Copper – H – HKD 372,433 0.07149,296 Kaisa Group Holdings HKD 47,238 0.01

1,181,192 Li Ning HKD 898,780 0.16






Currency Market

Value

% of

Net

Assets

SHARES USD %China (continued)

225,218 Luthai Textile – B – HKD 247,247 0.0410,278 NetEase – ADR – USD 3,090,004 0.55

223,324 New China Life Insurance – H – HKD 1,135,720 0.209,386 New Oriental Education & Technology

Group – ADR – USD 661,655 0.121,546,682 PetroChina – H – HKD 947,055 0.17

877,176 PICC Property & Casualty – H – HKD 1,465,247 0.260 Semiconductor Manufacturing

International HKD 0 0.00226,840 Shanghai Haohai Biological Technology

– H – HKD 1,232,059 0.22442,876 Shanghai Pharmaceuticals Holding – H

– HKD 1,319,020 0.23597,712 Shenzhou International Group Holdings HKD 3,927,856 0.70438,510 Sinopec Shanghai Petrochemical – H – HKD 234,802 0.04347,151 Sinotruk Hong Kong HKD 252,144 0.04258,986 Tencent Holdings HKD 9,262,708 1.64537,400 Tianneng Power International HKD 441,268 0.08375,047 Times Property Holdings HKD 234,451 0.04

31,505 Yirendai – ADR – USD 787,625 0.14

78,854,613 13.96Hong Kong

472,797 AIA Group HKD 3,455,228 0.61413,534 BOC Hong Kong Holdings HKD 1,978,553 0.35185,974 Cheung Kong Property Holdings HKD 1,456,782 0.26663,307 China Agri-Industries Holdings HKD 275,300 0.05338,886 China Everbright HKD 737,987 0.13294,000 China Mobile HKD 3,120,228 0.55848,965 China Resources Land HKD 2,474,100 0.44

2,755,601 China Unicom Hong Kong HKD 4,094,688 0.72364,405 Chow Tai Fook Jewellery Group HKD 386,044 0.07

98,360 Dah Sing Financial Holdings HKD 825,915 0.1597,636 Galaxy Entertainment Group HKD 592,838 0.10

575,342 Giordano International HKD 327,969 0.062,432,000 K Wah International Holdings HKD 1,476,687 0.26

454,682 Kingboard Chemical Holdings HKD 1,811,402 0.3292,470 Luk Fook Holdings International HKD 316,271 0.06

327,000 Melco International Development HKD 875,468 0.1593,264 Melco Resorts & Entertainment – ADR

– USD 2,093,776 0.371,710,000 New World Development HKD 2,170,782 0.38

0 Nine Dragons Paper Holdings HKD 0 0.00473,188 Peace Mark Holdings HKD 0 0.00

0 Sino Land HKD 0 0.00682,703 Skyworth Digital Holdings HKD 424,150 0.08

65,490 Sun Hung Kai Properties HKD 962,243 0.173,695,916 WH Group HKD 3,730,738 0.66

325,926 Wharf Holdings HKD 2,701,279 0.48299,683 Wheelock & Co HKD 2,261,124 0.40

2,384,000 Xinyi Glass Holdings HKD 2,360,653 0.42115,975 Yue Yuen Industrial Holdings HKD 481,346 0.09

41,391,551 7.33India

190,362 Bharat Petroleum INR 1,883,074 0.3382,957 Emami INR 1,380,379 0.24

128,130 HDFC Bank INR 3,274,829 0.5813,036 Hero MotoCorp INR 746,506 0.13

254,423 Hindustan Petroleum INR 2,008,815 0.3688,164 ICICI Bank INR 395,760 0.07

104,516 Indian Oil INR 622,851 0.1145,809 IndusInd Bank INR 1,048,154 0.19

330,001 ITC INR 1,652,365 0.29403,766 KEC International INR 1,610,067 0.29113,556 Lupin INR 1,861,956 0.33121,387 Mahindra & Mahindra Financial

Services INR 647,803 0.12160,810 NIIT Technologies INR 1,436,623 0.25593,872 NTPC INR 1,460,390 0.26

87,334 Petronet LNG INR 583,757 0.101,375,895 PTC India INR 2,055,195 0.36

0 Punjab National Bank INR 0 0.00204,055 State Bank of India INR 863,888 0.15

52,969 Sun Pharmaceutical Industries INR 455,385 0.0862,103 Tata Motors INR 415,591 0.0764,923 Tata Motors – A – INR 264,465 0.0586,593 UPL INR 1,125,855 0.20

The accompanying notes form an integral part of these financial statements. The accompanying notes form an integral part of these financial statements.

30






Currency Market

Value

% of

Net

Assets

SHARES USD %India (continued)

99,579 Vedanta INR 383,679 0.0729,576 Welspun India INR 37,841 0.01

26,215,228 4.64Indonesia

31,928,349 Ace Hardware Indonesia IDR 2,539,415 0.455,195,474 Astra International IDR 3,479,242 0.614,551,284 Bank Negara Indonesia Persero IDR 2,253,872 0.404,588,163 Bank Rakyat Indonesia Persero IDR 5,250,009 0.934,233,348 Cikarang Listrindo IDR 381,168 0.072,580,226 Indofood CBP Sukses Makmur IDR 1,703,694 0.30

11,616,360 Mayora Indah IDR 1,926,254 0.343,416,752 Perusahaan Gas Negara Persero IDR 576,829 0.10

0 Vale Indonesia IDR 0 0.003,683,314 XL Axiata IDR 942,420 0.17

19,052,903 3.37Japan

58,897 Air Water JPY 1,081,904 0.1932,790 Ariake Japan JPY 2,285,044 0.4015,300 Asahi Group Holdings JPY 575,724 0.1023,500 Asahi Intecc JPY 1,068,752 0.19

416,185 Asahi Kasei JPY 4,472,614 0.79141,388 Astellas Pharma JPY 1,729,597 0.31

35,481 Bandai Namco Holdings JPY 1,209,436 0.2171,141 Bridgestone JPY 3,064,447 0.5430,648 Capcom JPY 726,370 0.1311,896 Central Japan Railway JPY 1,938,474 0.34

1,800 Cosmos Pharmaceutical JPY 350,516 0.06190,704 CYBERDYNE JPY 2,537,398 0.45

13,900 Dai-ichi Life Insurance JPY 250,697 0.04136,664 Daiken Medical JPY 976,695 0.17

61,000 Daiwa House Industry JPY 2,083,642 0.37271,000 Daiwa Securities Group JPY 1,605,837 0.28

21,600 Denso JPY 911,598 0.1623,884 East Japan Railway JPY 2,284,028 0.4058,450 Electric Power Development JPY 1,445,119 0.2615,800 Exedy JPY 445,061 0.08

4,877 FANUC JPY 939,969 0.178,600 FP JPY 465,361 0.08

30,800 Fuji Machine Manufacturing JPY 443,798 0.0823,600 Fujitec JPY 308,127 0.05

386,984 Fujitsu JPY 2,851,064 0.50900 Fukui Computer Holdings JPY 30,198 0.01

9,600 Glory JPY 314,418 0.0642,597 Gunosy JPY 882,200 0.1643,800 Hamamatsu Photonics JPY 1,344,874 0.2411,700 Harmonic Drive Systems JPY 405,064 0.0729,100 Haseko JPY 353,261 0.0633,569 HEALIOS JPY 459,802 0.08

446,766 Hitachi JPY 2,741,196 0.4982,044 Hitachi Capital JPY 1,972,975 0.35

6,300 Hitachi Transport System JPY 148,080 0.03147,159 Honda Motor JPY 4,012,964 0.71

12,800 Hoshizaki JPY 1,157,423 0.211,250,413 IHI JPY 4,251,136 0.75

158,994 Isuzu Motors JPY 1,961,249 0.3536,100 ITOCHU JPY 536,231 0.1090,535 Japan Airlines JPY 2,799,193 0.50

137,684 Japan Tobacco JPY 4,836,596 0.864,400 JGC JPY 71,349 0.01

82,113 JSR JPY 1,415,566 0.250 JTEKT JPY 0 0.00

668,003 JXTG Holdings JPY 2,917,310 0.5269,370 Kakaku.com JPY 995,848 0.18

9,500 Kanamoto JPY 315,370 0.0619,300 Kansai Paint JPY 444,024 0.08

8,000 Kao JPY 475,044 0.08269,000 Kawasaki Heavy Industries JPY 794,838 0.14

53,700 KDDI JPY 1,421,836 0.255,200 Keyence JPY 2,283,446 0.40

23,000 Kintetsu World Express JPY 405,714 0.0723,452 Komatsu JPY 595,794 0.1130,400 Kubota JPY 510,680 0.0922,900 Kyushu Electric Power JPY 277,996 0.05

182,695 Leopalace21 JPY 1,134,933 0.20121,566 M3 JPY 3,348,578 0.59

70,400 Marubeni JPY 454,755 0.0818,053 Matsumotokiyoshi Holdings JPY 1,026,705 0.18






Currency Market

Value

% of

Net

Assets

SHARES USD %Japan (continued)

10,900 MEIJI Holdings JPY 883,758 0.16169,016 Mitsubishi JPY 3,543,985 0.63124,200 Mitsubishi Electric JPY 1,785,734 0.32

1,061,015 Mitsubishi UFJ Financial Group JPY 7,127,573 1.2662,767 Mitsui Fudosan JPY 1,497,402 0.2745,600 Miura JPY 887,974 0.16

207,700 Mizuho Financial Group JPY 379,687 0.0722,000 Murata Manufacturing JPY 3,342,293 0.5917,000 Nakanishi JPY 689,169 0.1231,616 Nidec JPY 3,238,740 0.5718,400 Nifco JPY 987,469 0.1813,029 Nintendo JPY 4,369,314 0.7721,986 Nippon Shinyaku JPY 1,406,882 0.2539,771 Nippon Shokubai JPY 2,559,127 0.45

234,368 Nippon Suisan Kaisha JPY 1,370,415 0.24125,926 Nippon Telegraph & Telephone JPY 5,951,126 1.05

12,500 Nishio Rent All JPY 398,273 0.07118,152 Nissan Motor JPY 1,175,633 0.21

19,716 Nitori Holdings JPY 2,639,119 0.4725,683 Nitto Denko JPY 2,112,052 0.37

0 Nomura Real Estate Holdings JPY 0 0.0029,200 NSK JPY 364,610 0.0634,500 NTT DOCOMO JPY 814,293 0.1411,800 Obara Group JPY 642,720 0.11

6,300 Omron JPY 273,340 0.0520,556 Oracle Japan JPY 1,333,672 0.24

498,671 ORIX JPY 7,722,385 1.3716,177 Otsuka Holdings JPY 689,617 0.12

7,600 Outsourcing JPY 370,666 0.07165,000 Pacific Metals JPY 433,206 0.08217,299 Panasonic JPY 2,947,351 0.52102,420 PeptiDream JPY 3,240,517 0.57

78,502 Pigeon JPY 2,843,550 0.5097,800 Rakuten JPY 1,150,691 0.2055,500 Recruit Holdings JPY 953,814 0.1790,500 Renesas Electronics JPY 788,532 0.14

217,800 Resona Holdings JPY 1,198,908 0.2118,452 Rinnai JPY 1,719,436 0.30

3,500 Rohm JPY 268,823 0.055,400 Ryohin Keikaku JPY 1,349,039 0.24

14,000 Sato Holdings JPY 350,623 0.0673,800 SBI Holdings JPY 999,676 0.1836,375 SCREEN Holdings JPY 2,428,003 0.4352,200 Seibu Holdings JPY 964,929 0.1718,800 Sekisui Chemical JPY 336,479 0.0612,816 Seven & i Holdings JPY 527,859 0.09

8,246 Shima Seiki Manufacturing JPY 383,825 0.0718,800 Shimachu JPY 447,747 0.0812,423 Shimamura JPY 1,521,342 0.27

800 Shimano JPY 126,593 0.0224,900 Shin-Etsu Chemical JPY 2,257,089 0.40

338,000 Shinsei Bank JPY 589,605 0.1021,700 Shionogi & Co JPY 1,208,796 0.2111,500 SMC JPY 3,495,239 0.6274,748 SoftBank Group JPY 6,051,793 1.0716,655 Sosei Group JPY 1,830,625 0.32

119,075 Start Today JPY 2,930,254 0.52232,995 Sumco JPY 3,373,822 0.60

40,500 Sumitomo JPY 526,976 0.09244,262 Sumitomo Electric Industries JPY 3,760,889 0.67138,528 Sumitomo Metal Mining JPY 1,849,956 0.33

45,400 Sumitomo Mitsui Financial Group JPY 1,769,372 0.3196,433 Sumitomo Mitsui Trust Holdings JPY 3,449,305 0.6121,500 Suruga Bank JPY 520,853 0.0941,896 Sysmex JPY 2,502,004 0.4420,300 Takamatsu Construction Group JPY 494,311 0.0961,172 TechnoPro Holdings JPY 2,460,819 0.4418,300 Tokio Marine Holdings JPY 757,505 0.13

0 Tokyo Electron JPY 0 0.0026,700 Topcon JPY 459,575 0.08

255,065 Toray Industries JPY 2,134,543 0.3813,300 Trend Micro JPY 685,360 0.12

8,600 Tsubaki Nakashima JPY 166,321 0.0367,745 TV Asahi Holdings JPY 1,220,922 0.2220,000 Unicharm JPY 502,314 0.0915,000 Xebio Holdings JPY 264,596 0.05

399,228 Yahoo Japan JPY 1,737,475 0.31319,621 Yamada Denki JPY 1,587,297 0.28


31






Currency Market

Value

% of

Net

Assets

SHARES USD %Japan (continued)

47,025 Yamato Kogyo JPY 1,205,333 0.2122,600 Zenrin JPY 653,702 0.12

217,132,540 38.43Malaysia

678,900 Malaysian Pacific Industries MYR 2,131,917 0.38352,700 Unisem M MYR 294,146 0.05

2,426,063 0.43New Zealand

585,016 Arvida Group NZD 573,987 0.10175,161 Fletcher Building AUD 1,022,462 0.18

1,596,449 0.28Philippines6,516,977 Emperador PHP 973,801 0.17

260,497 Jollibee Foods PHP 1,053,141 0.19885,296 Metropolitan Bank & Trust PHP 1,535,146 0.27558,327 Puregold Price Club PHP 492,934 0.09

10,485,170 Vista Land & Lifescapes PHP 1,207,270 0.21

5,262,292 0.93Singapore

100,478 DBS Group Holdings SGD 1,513,530 0.27232,100 Venture SGD 2,031,307 0.36953,300 Yanlord Land Group SGD 1,215,122 0.21

4,759,959 0.84South Korea

2,155 CJ O Shopping KRW 360,689 0.06202,610 DGB Financial Group KRW 2,089,584 0.37

15,420 Dongbu Insurance KRW 916,473 0.1624,463 Doosan Bobcat KRW 761,173 0.14

3,595 E-MART KRW 736,916 0.1381,451 Hana Financial Group KRW 3,221,321 0.5728,103 Hankook Tire KRW 1,562,149 0.28

102,272 Hanwha General Insurance KRW 757,107 0.130 Hyundai Marine & Fire Insurance KRW 0 0.00

115,410 Industrial Bank of Korea KRW 1,437,392 0.2547,073 JB Financial Group KRW 261,665 0.05

118,816 KB Financial Group KRW 5,991,942 1.0620,807 Korea Aerospace Industries KRW 1,036,584 0.18

3,632 KT KRW 103,476 0.0255,513 KT – ADR – USD 923,734 0.1621,808 Kukdo Chemical KRW 1,000,673 0.1827,741 Kumho Petrochemical KRW 1,782,085 0.32

7,098 LG Innotek KRW 1,023,616 0.181,937 Lotte Shopping KRW 513,874 0.09

30,962 LS KRW 1,972,757 0.3515,169 POSCO KRW 3,804,940 0.67

5,828 Samchully KRW 629,077 0.117,454 Samsung Electronics KRW 15,484,997 2.741,546 Samsung Electronics – Pref – KRW 2,516,140 0.45

25,183 S-Oil KRW 2,086,544 0.37158,200 Woori Bank KRW 2,551,055 0.45

53,525,963 9.47Sri Lanka3,599,643 Lanka Orix Leasing LKR 2,644,349 0.472,390,509 Sampath Bank LKR 4,458,755 0.79

7,103,104 1.26Taiwan

599,198 Advanced Semiconductor Engineering TWD 769,187 0.14142,474 Airtac International Group TWD 1,683,745 0.30

0 Chunghwa Telecom TWD 0 0.00392,939 CTCI TWD 669,107 0.12408,820 Delta Electronics TWD 2,237,623 0.40469,067 Fubon Financial Holding TWD 747,085 0.13229,368 Hon Hai Precision Industry TWD 882,183 0.16442,210 ITEQ TWD 642,527 0.11

1,838,000 King’s Town Bank TWD 1,897,212 0.3425,808 Largan Precision TWD 4,114,708 0.73

899,622 Lite-On Technology TWD 1,478,669 0.26194,654 MediaTek TWD 1,666,913 0.29

74,906 Merry Electronics TWD 465,393 0.08863,000 Namchow Chemical Industrial TWD 1,826,995 0.32369,365 Pegatron TWD 1,157,148 0.20675,210 Powertech Technology TWD 2,084,228 0.37308,407 Quanta Computer TWD 729,956 0.13319,255 Realtek Semiconductor TWD 1,149,192 0.20

47,734 St Shine Optical TWD 997,987 0.18






Currency Market

Value

% of

Net

Assets

SHARES USD %Taiwan (continued)

456,865 Taiwan Semiconductor Manufacturing TWD 3,131,376 0.55924,623 Tripod Technology TWD 2,945,299 0.52

0 Wistron TWD 0 0.00

31,276,533 5.53Thailand

163,982 Kasikornbank – NVDR – THB 958,209 0.17119,900 Kiatnakin Bank THB 252,365 0.04

1,400,731 Major Cineplex Group THB 1,391,659 0.25183,800 PTT THB 2,001,943 0.35

8,621 Siam Cement THB 127,400 0.022,087 Siam Cement – NVDR – THB 30,967 0.01

4,762,543 0.84United States

357,350 Nexteer Automotive Group HKD 560,301 0.10

560,301 0.10Vietnam

106,882 Taisun International Holding TWD 483,114 0.08518,341 Vietnam Dairy Products VND 3,593,791 0.64

1,347,098 Vinh Hoan VND 3,496,493 0.62

7,573,398 1.34TOTAL TRANSFERABLE SECURITIES ANDMONEY MARKET INSTRUMENTS ADMITTEDTO AN OFFICIAL STOCK EXCHANGE LISTING 557,517,394 98.67


32



Quantity Other transferable securities and

money market Instruments

Currency Market

Value

% of

Net

Assets

SHARES USD %Australia

17,221 Jacana Minerals AUD 0 0.00

0 0.00TOTAL OTHER TRANSFERABLE SECURITIES ANDMONEY-MARKET INSTRUMENTS 0 0.00

INVESTMENTS 557,517,394 98.67


AAMMF Fund of Mandates Asia-Pacific Equities 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts

Buy/(Sold) Description Maturity Date Currency

Commitmentin Fund

Currency

Unrealisedgain/(loss)

in FundCurrency

% ofNet

Assets(2) JPY/USD Currency Future 09/17 USD (222,750) 5,713 0.00

TOTAL FUTURES CONTRACTS 5,713 0.00

DERIVATIVES 5,713 0.00

NET OTHER ASSETS 7,508,031 1.33

TOTAL NET ASSETS 565,031,138 100.00

* The counterparty for the future contracts is Newedge.

The accompanying notes form an integral part of these financial statements.

33


AAMMF Fund of Mandates Euro GovernmentBonds 30-06-2017

Nominal Transferable

securities and money

market instruments

admitted to an

official stock exchange

listing

Currency Coupon Maturity

Date

Market

Value

% of

Net

Assets

BONDS EUR %Austria1,208,660 Austria Government

Bond EUR 4.350% 15/03/19 1,308,923 0.35406,102 Austria Government

Bond EUR 1.950% 18/06/19 425,466 0.11298,992 Austria Government

Bond (traded inAustria) EUR 3.900% 15/07/20 337,814 0.09

132,998 Austria GovernmentBond (traded inGermany) EUR 3.900% 15/07/20 150,267 0.04

109,140 Austria GovernmentBond (traded inUnited States) EUR 3.900% 15/07/20 123,311 0.03

466,509 Austria GovernmentBond (traded inAustria) EUR 3.500% 15/09/21 539,641 0.14


685,513 Austria GovernmentBond EUR 3.400% 22/11/22 811,629 0.22

0 Austria GovernmentBond EUR 0.000% 15/07/23 0 0.00



4,281,367 1.14Belgium

611,244 Belgium GovernmentBond EUR 4.000% 28/03/19 659,600 0.18

79,067 Belgium GovernmentBond (traded inBelgium) EUR 3.750% 28/09/20 89,694 0.02

21,320 Belgium GovernmentBond (traded inGermany) EUR 3.750% 28/09/20 24,186 0.01


1,867,565 Belgium GovernmentBond EUR 0.200% 22/10/23 1,871,678 0.50


1,035,289 Belgium GovernmentBond (traded inGermany) EUR 2.600% 22/06/24 1,201,335 0.32


2,451,933 Belgium GovernmentBond (traded inBelgium) EUR 0.800% 22/06/25 2,513,930 0.67




0 Belgium GovernmentBond EUR 2.250% 22/06/57 0 0.00

11,361,739 3.03Cyprus

152,288 Cyprus GovernmentInternational Bond EUR 2.750% 27/06/24 156,204 0.04

156,204 0.04Finland

122,338 Finland GovernmentBond (traded inFinland) EUR 4.375% 04/07/19 134,483 0.04





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Finland (continued)

76,144 Finland GovernmentBond (traded inGermany) EUR 4.375% 04/07/19 83,703 0.02

86,804 Finland GovernmentBond (traded inFinland) EUR 3.375% 15/04/20 96,072 0.02


498,098 Finland GovernmentBond EUR 0.000% 15/09/23 494,490 0.13

508 Finland GovernmentBond EUR 0.500% 15/04/26 508 0.00


841,624 0.22France

539,433 Agence Francaise deDeveloppement EUR 2.125% 15/02/21 581,821 0.15

1,294,448 Caisse Centrale duCredit Immobilier deFrance EUR 0.250% 25/11/18 1,304,659 0.35

431,483 Caisse Centrale duCredit Immobilier deFrance (traded inFrance) EUR 0.375% 31/07/20 437,395 0.12

101,525 Caisse Centrale duCredit Immobilier deFrance (traded inLuxembourg) EUR 0.375% 31/07/20 102,917 0.03

988,682 Dexia Credit Local EUR 0.000% 05/06/20 993,300 0.26514,115 Dexia Credit Local EUR 0.250% 02/06/22 513,135 0.14609,152 Dexia Credit Local EUR 0.750% 25/01/23 620,374 0.17

1,589,430 France GovernmentBond OAT EUR 1.000% 25/05/18 1,611,908 0.43


731,827 France GovernmentBond OAT EUR 1.000% 25/11/18 747,638 0.20



91,627 France GovernmentBond OAT (traded inFrance) EUR 0.500% 25/11/19 93,704 0.02

351,206 France GovernmentBond OAT (traded inGermany) EUR 0.500% 25/11/19 359,170 0.10






5,018,597 France GovernmentBond OAT (traded inFrance) EUR 0.000% 25/05/21 5,063,362 1.35

2,032,136 France GovernmentBond OAT (traded inGermany) EUR 0.000% 25/05/21 2,050,263 0.55





34





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France (continued)2,654,996 France Government

Bond OAT EUR 0.000% 25/05/22 2,660,487 0.712,088,883 France Government


Bond OAT (traded inFrance) EUR 1.750% 25/05/23 7,739,237 2.06


0 France GovernmentBond OAT EUR 4.250% 25/10/23 0 0.00









80,870,125 21.56Germany9,045,871 Bundesobligation EUR 0.000% 08/10/21 9,163,313 2.442,241,807 Bundesobligation EUR 0.000% 08/04/22 2,265,877 0.602,074,741 Bundesrepublik

Deutschland EUR 2.250% 04/09/20 2,255,244 0.60755,095 Bundesrepublik

Deutschland EUR 2.500% 04/01/21 833,259 0.22120,054 Bundesrepublik


Deutschland EUR 1.750% 04/07/22 77,800 0.024,673,317 Bundesrepublik

Deutschland EUR 1.500% 04/09/22 5,080,807 1.361,265,514 Bundesrepublik












Deutschland EUR 4.250% 04/07/39 925,526 0.251,769,080 Bundesschatzanweisungen EUR 0.000% 14/06/19 1,789,054 0.48

0 FMS WertmanagementAoeR EUR 0.000% 20/10/20 0 0.00

988,682 FMS WertmanagementAoeR EUR 0.375% 29/04/30 908,600 0.24

1,461,965 Kreditanstalt fuerWiederaufbau EUR 0.000% 30/06/21 1,473,907 0.39





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Germany (continued)

852,813 Kreditanstalt fuerWiederaufbau EUR 0.000% 28/04/22 856,054 0.23


211,934 State of NorthRhine-WestphaliaGermany EUR 1.550% 16/06/48 204,150 0.05

63,788,548 17.01Iceland

158,380 Iceland GovernmentInternational Bond EUR 2.500% 15/07/20 169,848 0.04

169,848 0.04Ireland

912,886 Ireland GovernmentBond EUR 5.900% 18/10/19 1,044,021 0.28

2,628,309 Ireland GovernmentBond EUR 4.500% 18/04/20 2,981,343 0.79


622,422 Ireland GovernmentBond EUR 5.400% 13/03/25 845,139 0.23


1 Ireland GovernmentBond EUR 2.400% 15/05/30 1 0.00


13,528,890 3.61Italy2,382,766 Italy Buoni Poliennali

Del Tesoro EUR 2.150% 12/11/17 2,406,475 0.64970,463 Italy Buoni Poliennali

Del Tesoro EUR 1.700% 15/09/18 997,641 0.272,143,454 Italy Buoni Poliennali



Del Tesoro EUR 4.500% 01/02/20 10,843,612 2.896,161,232 Italy Buoni Poliennali




Del Tesoro EUR 4.000% 01/09/20 408,041 0.11262,826 Italy Buoni Poliennali










Del Tesoro (traded inGermany) EUR 5.500% 01/09/22 911,220 0.24

194,929 Italy Buoni PoliennaliDel Tesoro (traded inItaly) EUR 5.500% 01/09/22 239,335 0.06


35





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Italy (continued)7,229,246 Italy Buoni Poliennali



Del Tesoro (traded inItaly) EUR 4.500% 01/05/23 1,486,903 0.40

262,697 Italy Buoni PoliennaliDel Tesoro (traded inSwitzerland) EUR 4.500% 01/05/23 311,464 0.08

1,163,511 Italy Buoni PoliennaliDel Tesoro EUR 0.450% 22/05/23 1,163,499 0.31



784,284 Italy Buoni PoliennaliDel Tesoro EUR 4.500% 01/03/24 934,598 0.25









2,333,291 Italy Certificati diCredito del Tesoro EUR 0.758% 15/04/18 2,352,631 0.63

8,898,142 Italy Certificati diCredito del Tesoro EUR 1.552% 01/11/18 9,113,522 2.43

553,662 Veneto Banca EUR 0.500% 02/02/20 554,772 0.15

117,862,801 31.43Luxembourg1,934,058 European Financial

Stability Facility EUR 0.750% 03/05/27 1,923,866 0.51638,087 European Financial

Stability Facility EUR 1.250% 24/05/33 627,149 0.17

2,551,015 0.68Netherlands

829,896 NetherlandsGovernment Bond EUR 0.250% 15/01/20 846,248 0.23

1,566,029 NetherlandsGovernment Bond EUR 0.000% 15/01/22 1,579,511 0.42

137 NetherlandsGovernment Bond EUR 2.250% 15/07/22 153 0.00

496,186 NetherlandsGovernment Bond(traded in Germany) EUR 1.750% 15/07/23 547,719 0.15

3,041,652 NetherlandsGovernment Bond(traded in Netherlands) EUR 1.750% 15/07/23 3,357,552 0.89

291,598 NetherlandsGovernment Bond(traded in Germany) EUR 0.250% 15/07/25 289,321 0.08

705,412 NetherlandsGovernment Bond(traded in Netherlands) EUR 0.250% 15/07/25 699,905 0.19

275,753 NetherlandsGovernment Bond EUR 0.500% 15/07/26 275,839 0.07

7,596,248 2.03





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Portugal2,074,741 Portugal Obrigacoes do

Tesouro OT EUR 4.750% 14/06/19 2,263,605 0.61176,400 Portugal Obrigacoes do

Tesouro OT EUR 4.800% 15/06/20 199,678 0.05

2,463,283 0.66Slovakia

296,605 Slovakia GovernmentBond EUR 1.625% 21/01/31 305,562 0.08

305,562 0.08Slovenia

620,828 Slovenia GovernmentBond EUR 1.750% 09/10/17 624,438 0.17


1,348,892 0.36Spain

456,864 FADE - Fondo deAmortizacion delDeficit Electrico EUR 0.031% 17/06/20 458,324 0.12

17,513 Spain GovernmentBond (traded inGermany) EUR 5.500% 30/07/17 17,588 0.00

3,807 Spain GovernmentBond (traded in Spain) EUR 5.500% 30/07/17 3,823 0.00

335,795 Spain GovernmentBond EUR 4.100% 30/07/18 351,829 0.09

1,709,180 Spain GovernmentBond EUR 4.600% 30/07/19 1,880,898 0.50

0 Spain GovernmentBond EUR 4.300% 31/10/19 0 0.00























36





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Spain (continued)1,488,546 Spain Government

Inflation Linked Bond EUR 0.550% 30/11/19 1,541,736 0.41644,710 Spain Government

Inflation Linked Bond EUR 1.800% 30/11/24 728,568 0.191,506,701 Spain Government

Inflation Linked Bond EUR 0.650% 30/11/27 1,519,766 0.41

51,819,555 13.82Supranational

508 European InvestmentBank EUR 0.250% 14/10/24 508 0.00

232,239 European InvestmentBank EUR 0.375% 14/04/26 229,273 0.06

254 European StabilityMechanism EUR 0.500% 02/03/26 254 0.00

230,035 0.06






Currency Market

Value

% of

Net

Assets

OPEN ENDED FUNDS EUR %Ireland6,497,123 Insight Liquidity Funds – EUR Cash

Fund EUR 6,463,143 1.72


INVESTMENTS 365,638,879 97.49


AAMMF Fund of Mandates Euro Government Bonds 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets179 Bundesrepublik Deutschland Future BOBL 09/17 EUR 23,576,932 (161,530) (0.04)

(105) Bundesrepublik Deutschland Future BUND 09/17 EUR (16,986,520) 267,798 0.07(32) Bundesrepublik Deutschland Future BUXL 09/17 EUR (5,269,008) 129,978 0.03185 Bundesrepublik Deutschland Future SCHATZ 09/17 EUR 20,700,784 (44,512) (0.01)(50) Euro-BTP Future 09/17 EUR (6,787,416) (55,998) (0.01)

2 Euro-OAT Future 09/17 EUR 263,756 3,119 0.00(72) Short Euro-BTP Future 09/17 EUR (8,093,714) (20,546) (0.01)





* The counterparties for the future contracts are Goldman Sachs International, Merrill Lynch Pierce Fenner & Smith and Newedge.


37


AAMMF Fund of Mandates EuropeanEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Austria

4,586 ams CHF 261,353 0.0336,217 Lenzing EUR 5,682,523 0.70

2,726 Mayr Melnhof Karton EUR 312,140 0.0423,317 Porr EUR 644,236 0.08

6,900,252 0.85Belgium

2,754 Barco EUR 247,604 0.0357,612 D’ieteren EUR 2,357,471 0.2943,671 KBC Group EUR 2,900,199 0.3528,958 Solvay EUR 3,402,558 0.4273,286 UCB EUR 4,414,013 0.54

2,642 Umicore EUR 160,940 0.02

13,482,785 1.65Chile550,212 Antofagasta GBP 5,009,867 0.61

5,009,867 0.61Denmark

2,199 ALK-Abello DKK 287,366 0.0495,335 Danske Bank DKK 3,210,734 0.3970,672 Dfds DKK 3,297,390 0.4068,773 DSV DKK 3,699,980 0.45

7,299 FLSmidth & Co DKK 403,856 0.0515,848 H Lundbeck DKK 778,863 0.10

5,075 Jyske Bank DKK 257,332 0.034,997 NKT DKK 350,816 0.04

61,247 Novo Nordisk – B – DKK 2,296,647 0.285,248 OW Bunker DKK 0 0.00

21,731 Pandora DKK 1,775,558 0.222,032 Rockwool International – B – DKK 391,652 0.05

54,647 Spar Nord Bank DKK 627,689 0.08876,736 TDC DKK 4,464,447 0.55

48,683 Vestas Wind Systems DKK 3,935,214 0.48

25,777,544 3.16Finland

7,120 Cargotec – B – EUR 395,497 0.0583,820 Kone – B – EUR 3,733,341 0.46

802,025 Nokia EUR 4,294,842 0.5334,472 Nokian Renkaat EUR 1,249,266 0.1529,536 Sampo – A – EUR 1,325,275 0.1685,284 Stora Enso – R – EUR 964,557 0.12

156,060 UPM-Kymmene EUR 3,895,271 0.4817,133 Valmet EUR 291,432 0.0336,403 YIT EUR 266,473 0.03

16,415,954 2.01France

13,712 Airbus EUR 987,286 0.12111,600 Alstom EUR 3,416,066 0.42

82,318 Altran Technologies EUR 1,174,682 0.1570,737 Amundi EUR 4,481,203 0.5548,312 Arkema EUR 4,513,833 0.5530,310 Atos EUR 3,725,062 0.46

5,616 BioMerieux EUR 1,064,259 0.13226,640 BNP Paribas EUR 14,291,936 1.75128,138 Bouygues EUR 4,730,861 0.58

36,126 Capgemini EUR 3,268,639 0.4070,306 Cie de Saint-Gobain EUR 3,288,899 0.4058,300 Cie Generale des Etablissements

Michelin EUR 6,786,107 0.83245,559 Credit Agricole EUR 3,458,692 0.43

8,755 Criteo – ADR – USD 376,513 0.0568,751 Elior Group EUR 1,749,020 0.2297,890 Elis EUR 1,963,681 0.2427,929 Europcar Groupe EUR 357,765 0.04

206,079 Faurecia EUR 9,164,311 1.12116,164 Legrand EUR 7,115,048 0.87

12,400 L’Oreal EUR 2,261,811 0.2810,043 Nexans EUR 481,038 0.06

7,523 Nexity EUR 382,754 0.0526,003 Pernod Ricard EUR 3,048,885 0.3889,826 Publicis Groupe EUR 5,866,563 0.7250,247 Renault EUR 3,982,093 0.49

0 Rubis EUR 0 0.00138,353 Sanofi EUR 11,588,414 1.42139,211 Schneider Electric EUR 9,364,711 1.15203,170 Societe Generale EUR 9,571,322 1.17

23,744 Sodexo EUR 2,687,788 0.33






Currency Market

Value

% of

Net

Assets

SHARES EUR %France (continued)

0 Sopra Steria Group EUR 0 0.007,705 Tarkett EUR 313,457 0.04

71,053 Technicolor EUR 271,281 0.0341,859 Television Francaise 1 EUR 513,196 0.06

405,287 TOTAL EUR 17,542,835 2.1524,692 Ubisoft Entertainment EUR 1,226,692 0.1546,069 Valeo EUR 2,717,635 0.33

342,181 Vallourec EUR 1,820,060 0.2228,521 Vinci EUR 2,131,410 0.2626,923 Worldline EUR 807,705 0.10

152,493,513 18.70Germany

75,962 Aareal Bank EUR 2,636,628 0.3220,457 adidas EUR 3,431,738 0.4243,033 Allianz EUR 7,418,928 0.9112,064 Aurubis EUR 829,421 0.1055,705 BASF EUR 4,517,118 0.55

133,085 Bayer EUR 15,065,243 1.8534,429 Bayerische Motoren Werke EUR 2,798,373 0.3426,010 Beiersdorf EUR 2,393,995 0.2918,912 Brenntag EUR 958,444 0.12

5,479 Carl Zeiss Meditec EUR 248,960 0.03144,267 Commerzbank EUR 1,504,705 0.18

36,647 Continental EUR 6,924,373 0.856,813 CTS Eventim & Co EUR 263,805 0.03

57,188 Deutsche Boerse EUR 5,285,338 0.65148,769 Deutsche Post EUR 4,882,582 0.60209,854 Deutsche Telekom EUR 3,298,908 0.41108,751 E.ON EUR 896,982 0.11

40,264 Fresenius & Co EUR 3,022,185 0.3711,088 FUCHS PETROLUB – Pref – EUR 528,642 0.07

109,527 Infineon Technologies EUR 2,024,602 0.2520,415 KION Group EUR 1,366,183 0.1732,615 Kloeckner & Co EUR 300,707 0.0437,800 Merck EUR 3,997,344 0.4927,763 MTU Aero Engines EUR 3,428,677 0.4219,947 Muenchener

Rueckversicherungs-Gesellschaft inMuenchen EUR 3,521,694 0.43

41,639 ProSiebenSat.1 Media EUR 1,525,647 0.1943,533 Rocket Internet EUR 819,515 0.10

246,877 RWE EUR 4,306,775 0.53240,481 Salzgitter EUR 8,588,790 1.05176,806 Schaeffler – Pref – EUR 2,217,142 0.27

58,221 Siemens EUR 7,006,943 0.867,292 Stroeer EUR 382,382 0.054,230 Uniper EUR 69,514 0.01

47,266 United Internet EUR 2,275,638 0.2833,832 Volkswagen – Pref – EUR 4,511,454 0.55

2,896 Wacker Chemie EUR 275,236 0.0343,305 Wirecard EUR 2,412,957 0.30

115,937,568 14.22Greece

16,845 JUMBO EUR 269,526 0.03

269,526 0.03Ireland

94,516 Allied Irish Banks EUR 467,855 0.06463,272 Grafton Group GBP 3,719,655 0.45

62,553 Origin Enterprises EUR 399,279 0.058,551 Paddy Power Betfair EUR 799,306 0.10

209,561 Ryanair Holdings EUR 3,763,707 0.46

9,149,802 1.12Isle Of Man

42,388 GVC Holdings GBP 365,196 0.0441,811 Paysafe Group GBP 243,329 0.03

608,525 0.07Italy

78,467 Anima Holding EUR 492,381 0.06158,414 Azimut Holding EUR 2,780,175 0.34

63,756 BPER Banca EUR 278,360 0.039,917 Cerved Information Solutions EUR 92,926 0.01

42,249 Danieli & C Officine Meccaniche EUR 902,007 0.11169,370 Danieli & C Officine Meccaniche – RSP

– EUR 2,655,726 0.338,802 De’ Longhi EUR 241,518 0.03

13,407 DiaSorin EUR 901,609 0.11


38






Currency Market

Value

% of

Net

Assets

SHARES EUR %Italy (continued)

1,271,308 Enel EUR 5,967,520 0.73796,653 Eni EUR 10,483,949 1.29

93,375 FinecoBank Banca Fineco EUR 643,353 0.081,401,012 Intesa Sanpaolo EUR 3,889,210 0.48

243,050 OVS EUR 1,514,204 0.1937,621 Safilo Group EUR 243,781 0.03

1,428,709 Telecom Italia EUR 1,154,397 0.14200,810 UniCredit EUR 3,283,237 0.40

13,708 Yoox Net-A-Porter Group EUR 331,999 0.04

35,856,352 4.40Jordan

94,977 Hikma Pharmaceuticals GBP 1,590,067 0.20

1,590,067 0.20Luxembourg151,271 ArcelorMittal EUR 3,004,234 0.37


6,449 ASM International EUR 328,853 0.0423,131 ASML Holding EUR 2,639,280 0.3261,683 Euronext EUR 2,803,507 0.3427,519 Fugro – CVA – EUR 357,751 0.0518,929 Gemalto EUR 994,724 0.1252,373 Heineken EUR 4,458,491 0.55

573,417 ING Groep EUR 8,658,589 1.06296,432 Koninklijke Ahold Delhaize EUR 4,962,264 0.61

99,877 Koninklijke BAM Groep EUR 475,815 0.0646,433 Koninklijke DSM EUR 2,955,015 0.36

1,393,092 Koninklijke KPN EUR 3,902,050 0.48231,118 Koninklijke Philips EUR 7,186,618 0.88111,426 Philips Lighting EUR 3,601,292 0.44374,260 PostNL EUR 1,529,600 0.19101,867 Randstad Holding EUR 5,207,433 0.64254,955 Royal Dutch Shell – A – (traded in

Netherlands) EUR 5,923,882 0.73130,020 Royal Dutch Shell – A – (traded in United

Kingdom) GBP 3,013,363 0.377,079 TKH Group EUR 344,293 0.04

37,528 Van Lanschot – CVA – EUR 911,924 0.1199,065 Wolters Kluwer EUR 3,671,846 0.45

63,926,590 7.84Norway486,752 DNB NOK 7,234,549 0.89654,514 Petroleum Geo-Services NOK 993,351 0.12

94,608 Statoil NOK 1,370,494 0.17

9,598,394 1.18Portugal

72,180 NOS SGPS EUR 383,567 0.05

383,567 0.05Russia

69,129 Lukoil – ADR – USD 2,957,156 0.36

2,957,156 0.36Spain107,448 ACS Actividades de Construccion y

Servicios EUR 3,634,409 0.4414,034 Aena EUR 2,397,607 0.29

132,042 Amadeus IT Group EUR 6,912,411 0.85197,331 Banco Bilbao Vizcaya Argentaria EUR 1,433,608 0.18726,534 Banco Santander EUR 4,208,087 0.52636,255 Bankia EUR 2,692,629 0.33

87,453 Cia de Distribucion Integral LogistaHoldings EUR 2,013,171 0.25

147,641 Gamesa Technologica EUR 2,760,151 0.3445,183 Gas Natural SDG EUR 925,806 0.11

6,822 Grupo Catalana Occidente EUR 251,266 0.03153,544 Indra Sistemas EUR 1,940,025 0.24

77,351 Industria de Diseno Textil EUR 2,599,756 0.3267,567 Let’s GOWEX EUR 0 0.0022,824 Melia Hotels International EUR 298,768 0.04

234,495 Repsol EUR 3,142,230 0.38144,913 Telefonica EUR 1,309,727 0.16

28,046 Viscofan EUR 1,452,804 0.18

37,972,455 4.66Sweden

60,336 Ahlsell SEK 362,204 0.04187,174 Assa Abloy – B – SEK 3,601,438 0.44






Currency Market

Value

% of

Net

Assets

SHARES EUR %Sweden (continued)

94,619 Atlas Copco – A – SEK 3,176,909 0.39253,904 Cloetta – B – SEK 915,845 0.11

45,053 Dometic Group SEK 342,816 0.04127,047 Intrum Justitia SEK 3,777,075 0.46

50,599 Lundin Petroleum SEK 852,605 0.1025,623 Nobia SEK 226,398 0.0392,057 Nordea Bank SEK 1,025,829 0.13

399,889 Sandvik SEK 5,507,817 0.6879,173 Swedbank – A – SEK 1,689,611 0.21

190,853 Telefonaktiebolaget LM Ericsson – B – SEK 1,195,309 0.1515,818 Thule Group SEK 259,959 0.03

116,675 Trelleborg – B – SEK 2,332,278 0.29

25,266,093 3.10Switzerland

14,488 Adecco Group CHF 966,961 0.128,443 Aryzta CHF 243,734 0.03

182 Belimo Holding CHF 686,608 0.0829,131 Cie Financiere Richemont CHF 2,106,988 0.26

352,699 Credit Suisse Group CHF 4,475,550 0.553,180 Daetwyler Holding CHF 473,707 0.06

11,470 Dufry CHF 1,649,790 0.20168 Forbo Holding CHF 241,433 0.03

25,557 GAM Holding CHF 300,673 0.046,287 Geberit CHF 2,574,031 0.311,372 Inficon Holding CHF 593,410 0.07

88,967 Julius Baer Group CHF 4,109,319 0.5013,106 Kuehne & Nagel International CHF 1,919,924 0.2364,393 LafargeHolcim CHF 3,236,613 0.40

405 LEM Holding CHF 459,307 0.06133,231 Logitech International CHF 4,299,744 0.53

70,103 Novartis CHF 5,121,731 0.6340,365 OC Oerlikon CHF 465,648 0.06

9,187 Partners Group Holding CHF 5,000,293 0.6162,667 Roche Holding CHF 14,010,848 1.72

5,478 Schindler Holding CHF 1,017,694 0.122,776 SFS Group CHF 276,545 0.03

0 STMicroelectronics EUR 0 0.006,935 Tecan Group CHF 1,144,706 0.147,992 Temenos Group CHF 626,375 0.08

652,378 UBS Group CHF 9,699,827 1.1939,061 Wolseley GBP 2,096,615 0.26

67,798,074 8.31United Kingdom327,410 AA GBP 850,168 0.10103,852 Aggreko GBP 1,088,720 0.13

40,772 Alfa Financial Software Holdings GBP 214,874 0.03469,634 Amec Foster Wheeler GBP 2,498,852 0.31

66,284 Ashmore Group GBP 266,630 0.0320,681 ASOS GBP 1,354,090 0.1724,278 AstraZeneca GBP 1,419,833 0.17

198,670 Auto Trader Group GBP 859,791 0.11621,610 Aviva GBP 3,723,761 0.46

1,140,570 Balfour Beatty GBP 3,515,020 0.431,367,154 Barclays GBP 3,156,865 0.39

171,444 Barratt Developments GBP 1,100,260 0.14150,833 Berendsen GBP 2,112,896 0.26844,092 BP GBP 4,256,720 0.52

46,767 British American Tobacco GBP 2,787,710 0.3433,832 Burford Capital GBP 347,158 0.04

187,092 Compass Group GBP 3,451,814 0.42607,667 ConvaTec Group GBP 2,209,056 0.27

41,989 Diploma GBP 528,419 0.06218,239 Electrocomponents GBP 1,434,120 0.18

20,068 Galliford Try GBP 265,346 0.03981,316 GKN GBP 3,643,379 0.45580,676 GlaxoSmithKline GBP 10,815,884 1.33101,680 Halma GBP 1,273,812 0.16

1,161,687 HSBC Holdings GBP 9,415,945 1.1551,008 IG Group Holdings GBP 329,964 0.04

0 Imagination Technologies Group GBP 0 0.00121,957 Imperial Brands GBP 4,789,786 0.59132,757 Informa GBP 1,011,488 0.12112,170 Jardine Lloyd Thompson Group GBP 1,532,974 0.19

90,046 John Laing Group GBP 310,730 0.0477,618 Johnson Matthey GBP 2,537,895 0.3144,798 Jupiter Fund Management GBP 257,651 0.03

856,185 Kingfisher GBP 2,932,100 0.36


39






Currency Market

Value

% of

Net

Assets

SHARES EUR %United Kingdom (continued)

2,882,156 Ladbrokes Coral Group GBP 3,758,382 0.461,807,882 Legal & General Group GBP 5,318,296 0.65

7,382 LivaNova USD 396,157 0.05192,204 Merlin Entertainments GBP 1,051,799 0.13120,122 Micro Focus International GBP 3,106,820 0.38277,199 National Grid GBP 3,004,799 0.37214,292 Persimmon GBP 5,471,654 0.67330,494 Prudential GBP 6,628,282 0.81

82,071 Reckitt Benckiser Group GBP 7,275,650 0.89126,036 RELX EUR 2,268,653 0.28369,332 Rentokil Initial GBP 1,149,568 0.14

1,355,303 Royal Bank of Scotland Group GBP 3,815,598 0.47230,261 RSA Insurance Group GBP 1,614,088 0.20144,509 Saga GBP 344,628 0.04263,039 Sage Group GBP 2,061,041 0.25

49,665 Schroders GBP 1,755,694 0.221,192,055 SIG GBP 2,017,404 0.25

249,968 Smith & Nephew GBP 3,772,049 0.46182,078 Smiths Group GBP 3,311,627 0.41

51,885 Spectris GBP 1,490,853 0.1828,132 Spirax-Sarco Engineering GBP 1,714,075 0.21

167,087 SSP Group GBP 905,410 0.11405,022 Standard Chartered GBP 3,585,005 0.44

89,231 SuperGroup GBP 1,519,265 0.19






Currency Market

Value

% of

Net

Assets

SHARES EUR %United Kingdom (continued)111,471 Tate & Lyle GBP 840,421 0.10126,040 TechnipFMC EUR 2,992,827 0.37

3,477,777 Tesco GBP 6,685,780 0.8249,924 TP ICAP GBP 265,695 0.03

310,673 Travis Perkins GBP 5,148,071 0.63170,589 UBM GBP 1,340,537 0.16178,981 Unilever – CVA – EUR 8,648,352 1.06

3,860,267 Vodafone Group GBP 9,573,116 1.1754,536 WH Smith GBP 1,065,186 0.1330,508 Willis Towers Watson USD 3,890,813 0.48

606,944 Worldpay Group GBP 2,176,011 0.27577,971 WPP GBP 10,623,990 1.30

196,881,307 24.14United States140,592 Mylan USD 4,785,227 0.59

41,596 Seagate Technology USD 1,413,201 0.17


INVESTMENTS 797,478,053 97.79


AAMMF Fund of Mandates European Equities 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets3 EUR/GBP Currency Future 09/17 GBP 375,425 (3,395) (0.00)

TOTAL FUTURES CONTRACTS (3,395) (0.00)

DERIVATIVES (3,395) 0.00





40


AAMMF Fund of Mandates North AmericanEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Bermuda

6,185 Assured Guaranty USD 258,160 0.0536,883 Axis Capital Holdings USD 2,384,856 0.4332,860 Maiden Holdings USD 364,747 0.0615,084 Marvell Technology Group USD 249,186 0.04

3,110 Validus Holdings USD 161,638 0.03

3,418,587 0.61China

51,861 Alibaba Group Holding – ADR – USD 7,307,255 1.31

7,307,255 1.31Denmark

49,943 Novo Nordisk – ADR – USD 2,142,042 0.39

2,142,042 0.39France122,391 Danone – ADR – USD 1,838,321 0.33

1,838,321 0.33Germany

15,572 Adidas – ADR – USD 1,494,407 0.27

1,494,407 0.27Ireland

0 Adient USD 21 0.003,431 ICON USD 335,481 0.06

64,551 Medtronic USD 5,728,867 1.03

6,064,369 1.09Japan390,641 Mitsubishi UFJ Financial Group – ADR – USD 2,636,825 0.47

2,636,825 0.47Netherlands110,866 Koninklijke Philips USD 3,971,218 0.71

3,971,218 0.71Spain477,422 Banco Bilbao Vizcaya Argentaria – ADR

– USD 3,991,250 0.72


24,323 Chubb USD 3,536,096 0.6455,434 Novartis – ADR – USD 4,627,080 0.83

8,163,176 1.47United Kingdom

4,462 Delphi Automotive USD 391,097 0.074,951 Ferroglobe USD 59,162 0.01

26,669 Pentair USD 1,774,575 0.3264,937 Unilever USD 3,589,073 0.65


55,155 AbbVie USD 3,999,265 0.722,961 ABM Industries USD 122,954 0.02

66,466 Acadia Healthcare USD 3,282,100 0.5912,536 ACCO Brands USD 146,044 0.0346,625 Adobe Systems USD 6,594,660 1.1958,541 AECOM USD 1,892,639 0.34

4,156 Aegion USD 90,935 0.02413,198 AES USD 4,590,630 0.83

12,230 Aetna USD 1,856,833 0.335,502 AGNC Investment USD 117,128 0.02

13,932 Air Lease USD 520,483 0.096,851 Air Products & Chemicals USD 980,049 0.18

290 Alleghany USD 172,350 0.032,907 Allergan USD 706,765 0.139,892 Ally Financial USD 206,733 0.041,964 Alphabet – A – USD 1,826,342 0.337,117 Alphabet – C – USD 6,467,075 1.16

11,645 Amazon.com USD 11,272,506 2.033,051 AMC Networks – A – USD 162,934 0.034,269 Amdocs USD 275,185 0.05

10,635 American Express USD 895,910 0.1641,430 American International Group USD 2,590,204 0.4730,885 Ameriprise Financial USD 3,931,316 0.7124,933 Amgen USD 4,294,170 0.77

4,140 Analog Devices USD 322,116 0.0628,283 Ansys USD 3,441,440 0.62

8,964 Anthem USD 1,686,435 0.3012,281 Anworth Mortgage Asset USD 73,811 0.0140,288 Apple USD 5,802,284 1.04






Currency Market

Value

% of

Net

Assets

SHARES USD %United States (continued)

64,145 Archer-Daniels-Midland USD 2,654,328 0.4811,205 Ares Capital USD 183,536 0.0315,789 Ares Commercial Real Estate USD 206,682 0.04

6,828 Arrow Electronics USD 535,481 0.101,005 Assurant USD 104,220 0.02

44,920 AT&T USD 1,694,842 0.301,931 Athene Holding – A – USD 95,788 0.02

44,376 Autodesk USD 4,474,009 0.806,289 Automatic Data Processing USD 644,346 0.12

93,150 Avnet USD 3,621,670 0.6560,927 Baker Hughes USD 3,321,147 0.60

390,709 Bank of America USD 9,478,606 1.716,204 BankUnited USD 209,144 0.04

82,766 Baxter International USD 5,010,685 0.901,236 Belden USD 93,205 0.025,956 Berry Global Group USD 339,525 0.066,076 BioMarin Pharmaceutical USD 551,794 0.10

53,944 Blackstone Group USD 1,799,026 0.323,064 Blackstone Mortgage Trust – A – USD 96,837 0.029,396 BMC Stock Holdings USD 205,304 0.04

25,568 BOK Financial USD 2,151,000 0.392,857 Booz Allen Hamilton Holding USD 92,976 0.02

14,641 Bristow Group USD 112,000 0.0212,400 Broadcom USD 2,889,721 0.5217,582 Brocade Communications Systems USD 221,708 0.04

7,854 Brooks Automation USD 170,362 0.031,985 Brunswick USD 124,530 0.021,659 Cabot USD 88,630 0.02

32,387 Capital One Financial USD 2,675,786 0.4825,078 Cardinal Health USD 1,954,086 0.35

1,869 Carlisle USD 178,265 0.033,516 Cars.com USD 93,641 0.02

42,032 CBS – B – USD 2,680,808 0.486,392 CDW USD 399,701 0.07

15,658 Celgene USD 2,033,483 0.3719,040 Centene USD 1,520,898 0.2720,202 Cerner USD 1,342,823 0.24

1,398 Charter Communications – A – USD 470,802 0.088,518 Chatham Lodging Trust USD 171,119 0.031,743 Chemed USD 356,584 0.06

32,490 Chevron USD 3,389,684 0.6116,883 Cigna USD 2,825,974 0.51

229,467 Cisco Systems USD 7,182,304 1.29135,519 Citigroup USD 9,063,537 1.63

20,412 ClubCorp Holdings USD 267,401 0.0543,710 Coach USD 2,069,227 0.3797,141 Coca-Cola USD 4,356,774 0.7854,421 Cognizant Technology Solutions – A – USD 3,613,529 0.65

2,194 Coherent USD 493,639 0.0916,540 Colony NorthStar – A – USD 233,046 0.04

2,179 Columbia Banking System USD 86,815 0.02171,408 Comcast – A – USD 6,671,196 1.20

6,595 CommScope Holding USD 250,823 0.056,155 Compass Minerals International USD 401,932 0.07

43,383 Conagra Brands USD 1,551,394 0.2858,118 ConocoPhillips USD 2,554,865 0.46

3,914 Convergys USD 93,087 0.02114,742 Corning USD 3,447,993 0.62

14,079 Crown Castle International USD 1,410,426 0.251,687 Crown Holdings USD 100,647 0.02

22,626 Cullen/Frost Bankers USD 2,124,823 0.381,681 Curtiss-Wright USD 154,268 0.03

228,831 Cypress Semiconductor USD 3,123,543 0.5636,547 CYS Investments USD 307,360 0.06

109,099 Dana USD 2,436,175 0.4449,933 Danaher USD 4,213,837 0.7615,304 Deere & Co USD 1,891,473 0.34

9,423 DexCom USD 689,269 0.123,744 Diamondback Energy USD 332,498 0.064,036 Dick’s Sporting Goods USD 160,766 0.03

31,310 Dover USD 2,511,712 0.4589,449 Dow Chemical USD 5,641,536 1.01

1,375 Dril-Quip USD 67,119 0.017,418 E*TRADE Financial USD 282,099 0.056,348 East West Bancorp USD 371,891 0.079,043 Electronic Arts USD 956,037 0.173,227 EnerSys USD 233,809 0.042,403 Envision Healthcare USD 150,579 0.03


41






Currency Market

Value

% of

Net

Assets


45,479 EQT USD 2,664,591 0.4810,252 Essent Group USD 380,776 0.07

5,065 Expedia USD 754,364 0.1447,906 Expeditors International of Washington USD 2,705,712 0.4920,680 Express Scripts Holding USD 1,320,182 0.24

1,662 Extraction Oil & Gas USD 22,356 0.0055,802 Exxon Mobil USD 4,504,860 0.8157,599 Facebook – A – USD 8,696,273 1.56

7,774 FactSet Research Systems USD 1,291,957 0.233,112 FCB Financial Holdings – A – USD 148,611 0.036,262 Ferro USD 114,527 0.028,704 Finish Line – A – USD 123,331 0.023,464 First American Financial USD 154,818 0.03

455 First Citizens BancShares – A – USD 169,755 0.0387,801 First Data – A – USD 1,597,971 0.29

4,176 First Midwest Bancorp USD 97,335 0.0226,925 First Republic Bank USD 2,695,206 0.48

2,463 First Solar USD 98,220 0.026,949 FirstCash USD 405,152 0.07

19,842 Flex USD 323,624 0.062,609 FNF Group USD 116,969 0.022,125 FNFV Group USD 33,574 0.012,069 Foot Locker USD 101,982 0.02

194,159 Ford Motor USD 2,172,644 0.3957,229 Franklin Resources USD 2,563,272 0.46

137,522 Freeport-McMoRan USD 1,651,635 0.304,105 FTD Cos USD 82,109 0.012,181 FTI Consulting USD 76,247 0.017,400 Gardner Denver Holdings USD 159,907 0.03

265,385 General Electric USD 7,168,049 1.2943,547 Gilead Sciences USD 3,082,235 0.5512,332 Goldman Sachs Group USD 2,736,389 0.49

2,584 Granite Construction USD 124,668 0.0221,520 Graphic Packaging Holding USD 296,552 0.05

1,404 Group 1 Automotive USD 88,888 0.025,349 Gulfport Energy USD 78,891 0.01

99,908 Halliburton USD 4,267,087 0.774,391 Hanmi Financial USD 124,916 0.023,574 Hanover Insurance Group USD 316,790 0.06

70,651 Hartford Financial Services Group USD 3,714,133 0.6718,294 HD Supply Holdings USD 560,336 0.10

4,353 Heidrick & Struggles International USD 94,685 0.0271,890 Hewlett Packard Enterprise USD 1,192,662 0.21

2,768 Hillenbrand USD 99,937 0.0231,435 Hilton Worldwide Holdings USD 1,944,270 0.3550,980 Home Depot USD 7,820,307 1.4121,102 Honeywell International USD 2,812,679 0.51

764 Huntington Ingalls Industries USD 142,211 0.032,605 IAC/InterActiveCorp USD 268,985 0.054,196 Incyte USD 528,336 0.10

987 Infinity Property & Casualty USD 92,777 0.022,808 Insight Enterprises USD 112,275 0.022,138 Integra LifeSciences Holdings USD 116,522 0.02

87,889 Intel USD 2,965,392 0.5387,539 Intercontinental Exchange USD 5,770,566 1.0436,904 Interpublic Group of Cos USD 907,848 0.1638,977 Invesco USD 1,371,606 0.2510,996 Investors Bancorp USD 146,909 0.03

1,755 Jacobs Engineering Group USD 95,445 0.0216,445 Jagged Peak Energy USD 219,544 0.04

1,137 JELD-WEN Holding USD 36,901 0.0176,079 Johnson Controls International USD 3,298,792 0.5921,912 Jones Lang LaSalle USD 2,739,059 0.49

116,453 JPMorgan Chase & Co USD 10,643,799 1.916,574 KAR Auction Services USD 275,900 0.05

22,667 Kosmos Energy USD 145,297 0.03128,969 Kroger USD 3,007,561 0.54

25,856 Lamar Advertising – A – USD 1,902,260 0.346,135 La-Z-Boy USD 199,396 0.045,326 LCI Industries USD 545,358 0.10

138,452 Lennar – A – USD 7,382,268 1.3311,634 Leucadia National USD 304,336 0.05

1,905 LifePoint Health USD 127,910 0.022,933 Lions Gate Entertainment – B – USD 77,092 0.013,132 Lithia Motors – A – USD 295,083 0.053,103 Live Nation Entertainment USD 108,131 0.02

19,560 M&T Bank USD 3,167,794 0.571,052 ManpowerGroup USD 117,435 0.02






Currency Market

Value

% of

Net

Assets


19,673 Martin Marietta Materials USD 4,378,917 0.791,482 MAXIMUS USD 92,833 0.02

14,955 McKesson USD 2,460,675 0.4477,454 Merck & Co USD 4,964,010 0.8938,301 MetLife USD 2,104,238 0.3833,838 MFA Financial USD 283,902 0.0583,970 Microchip Technology USD 6,480,805 1.1770,390 Micron Technology USD 2,101,846 0.38

225,975 Microsoft USD 15,576,427 2.804,356 Minerals Technologies USD 318,856 0.06

73,083 Mondelez International – A – USD 3,156,434 0.5772,476 Monster Beverage USD 3,600,633 0.6575,100 Morgan Stanley USD 3,346,451 0.6013,373 MSCI USD 1,377,320 0.25

4,128 MTGE Investment USD 77,611 0.0168,576 Murphy Oil USD 1,757,598 0.32

135,358 Nabors Industries USD 1,101,818 0.2057,470 National Fuel Gas USD 3,209,151 0.58

6,871 National General Holdings USD 144,973 0.0329,167 Navient USD 485,636 0.09

8,216 Navigant Consulting USD 162,357 0.033,987 Nelnet – A – USD 187,437 0.03

16,115 Newell Brands USD 864,108 0.1639,521 Newfield Exploration USD 1,124,772 0.2086,417 News – A – USD 1,183,914 0.21

1,796 Nu Skin Enterprises – A – USD 112,891 0.0222,423 Office Depot USD 126,465 0.02

5,050 Olin USD 152,920 0.0335,948 Omnicom Group USD 2,980,110 0.54

4,401 On Assignment USD 238,313 0.04207,276 ON Semiconductor USD 2,910,157 0.52121,009 Oracle USD 6,067,404 1.09

57,923 Oshkosh USD 3,989,735 0.722,179 Owens & Minor USD 70,127 0.013,826 PAREXEL International USD 332,497 0.06

16,877 Parsley Energy – A – USD 468,332 0.0857,131 PayPal Holdings USD 3,066,225 0.5525,568 PepsiCo USD 2,952,814 0.53

6,430 PharMerica USD 168,779 0.0312,731 Philip Morris International USD 1,495,273 0.2745,365 Phillips 66 USD 3,751,270 0.6726,957 Pioneer Natural Resources USD 4,301,769 0.77

1,141 PolyOne USD 44,185 0.012,209 Portland General Electric USD 100,920 0.02

29,561 PPG Industries USD 3,250,537 0.583,284 PRA Group USD 124,448 0.02

29,709 Procter & Gamble USD 2,589,147 0.474,506 PulteGroup USD 110,522 0.025,618 PVH USD 643,238 0.12

15,330 QEP Resources USD 154,830 0.0336,614 QUALCOMM USD 2,021,809 0.3615,671 Radian Group USD 256,222 0.05

1,377 Raymond James Financial USD 110,499 0.022,757 Realogy Holdings USD 89,463 0.024,519 Regeneron Pharmaceuticals USD 2,219,421 0.40

117,084 Regions Financial USD 1,714,109 0.312,443 Reinsurance Group of America USD 313,715 0.06

11,842 Rice Energy USD 315,346 0.0613,371 RPX USD 186,529 0.03

5,665 RSP Permian USD 182,798 0.0317,275 Salesforce.com USD 1,496,039 0.2718,716 Schlumberger USD 1,232,261 0.22

1,551 Scholastic USD 67,592 0.015,893 Schweitzer-Mauduit International USD 219,402 0.042,343 Scripps Networks Interactive – A – USD 160,085 0.03

27,540 Sealed Air USD 1,232,676 0.2242,596 SEI Investments USD 2,290,835 0.41

8,479 Select Medical Holdings USD 130,155 0.023,762 Service International USD 125,847 0.024,282 ServiceNow USD 453,895 0.082,435 Sherwin-Williams USD 854,702 0.15

12,224 Skechers U.S.A. – A – USD 360,603 0.0616,494 SLM USD 189,681 0.03

3,918 Stanley Black & Decker USD 551,326 0.10134,747 Staples USD 1,356,902 0.24

11,282 Starwood Property Trust USD 252,597 0.0552,015 State Street USD 4,667,272 0.8410,538 Steel Dynamics USD 377,376 0.07


42






Currency Market

Value

% of

Net

Assets


8,480 Steven Madden USD 338,764 0.067,419 Stifel Financial USD 341,148 0.06

17,678 SunCoke Energy USD 192,685 0.0376,427 Superior Energy Services USD 797,132 0.14

1,855 SVB Financial Group USD 326,051 0.064,258 Sykes Enterprises USD 142,760 0.03

68,448 Synchrony Financial USD 2,041,112 0.372,221 SYNNEX USD 266,447 0.05

15,641 Tailored Brands USD 174,553 0.034,857 TEGNA USD 69,987 0.019,368 TeleTech Holdings USD 382,216 0.071,669 Tempur Sealy International USD 89,102 0.027,766 Teradyne USD 233,203 0.04

141,243 Terex USD 5,296,614 0.953,633 Tesoro USD 340,045 0.065,403 Tetra Tech USD 247,200 0.04

21,415 Time Warner USD 2,150,279 0.398,150 T-Mobile USD 494,076 0.091,240 Torchmark USD 94,898 0.023,085 Tutor Perini USD 88,694 0.02

45,262 Two Harbors Investment USD 448,549 0.088,348 United Parcel Service – B – USD 923,171 0.17

14,662 UnitedHealth Group USD 2,718,659 0.493,518 Universal USD 227,594 0.04

10,354 Valvoline USD 245,586 0.04972 Varex Imaging USD 32,839 0.01

21,376 Varian Medical Systems USD 2,205,799 0.407,664 Vertex Pharmaceuticals USD 987,629 0.18

65,940 Visa – A – USD 6,183,813 1.1175,886 Voya Financial USD 2,799,429 0.5052,153 Walgreens Boots Alliance USD 4,084,126 0.7310,171 Walker & Dunlop USD 496,641 0.0933,998 Wal-Mart Stores USD 2,572,998 0.46

5,652 WESCO International USD 323,867 0.0650,387 Western Digital USD 4,464,267 0.8014,552 WestRock USD 824,507 0.1511,420 WildHorse Resource Development USD 141,264 0.0317,944 World Fuel Services USD 689,931 0.1263,617 Yum China Holdings USD 2,508,403 0.4514,987 Yum! Brands USD 1,105,451 0.2060,628 Zions Bancorporation USD 2,662,180 0.48


INVESTMENTS 539,717,516 97.10




43


AAMMF Fund of Mandates Emerging MarketEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Argentina

3,480 MercadoLibre USD 873,048 0.37

873,048 0.37Austria

9,312 Erste Group Bank EUR 356,049 0.1510,892 Raiffeisen Bank International EUR 274,552 0.11

630,601 0.26Brazil

123,498 Ambev – ADR – USD 678,002 0.280 Banco Bradesco BRL 1 0.00

93,049 Banco Bradesco – ADR – USD 790,918 0.33229,288 Banco do Brasil BRL 1,854,653 0.78

82,048 Banco do Estado do Rio Grande do Sul– Pref – BRL 325,393 0.14

152,553 Banco Santander Brasil – ADR – USD 1,148,727 0.48153,131 BM&FBovespa - Bolsa de Valores

Mercadorias e Futuros BRL 912,800 0.3839,480 Braskem – Pref – BRL 407,524 0.1728,953 BTG Pactual Group BRL 131,077 0.06

156,474 CCR BRL 798,133 0.3379,796 Cia de Saneamento Basico do Estado de

Sao Paulo – ADR – USD 759,661 0.3252,404 Cia de Saneamento do Parana – Pref – BRL 172,398 0.0715,281 Cia de Transmissao de Energia Eletrica

Paulista – Pref – BRL 297,474 0.129,279 Cia Paranaense de Energia – ADR – USD 68,108 0.03

56,744 Cosan – A – USD 363,726 0.1510,417 Gafisa BRL 34,020 0.0143,018 Itau Unibanco Holding – ADR – USD 475,347 0.20

144,888 Itau Unibanco Holding – Pref – BRL 1,607,069 0.67425,296 JBS BRL 838,205 0.35

8,852 M Dias Branco BRL 131,721 0.063,114 Magazine Luiza BRL 240,604 0.10

502,334 Metalurgica Gerdau – Pref – BRL 753,519 0.3288,062 MRV Engenharia e Participacoes BRL 359,345 0.1559,532 Petroleo Brasileiro – ADR – USD 475,658 0.20

483,680 Petroleo Brasileiro – Pref – BRL 1,805,815 0.7541,246 Raia Drogasil BRL 872,791 0.3643,447 Sao Martinho BRL 225,547 0.0911,323 TIM Participacoes – ADR – USD 167,585 0.0740,811 Transmissora Alianca de Energia

Eletrica BRL 271,477 0.1131,185 Ultrapar Participacoes BRL 729,645 0.3149,559 Vale – ADR – USD 433,645 0.1862,625 Vale – Pref – BRL 508,634 0.21

18,639,222 7.78Chile

12,962 CAP CLP 103,506 0.0436,446 Enersis Americas – ADR – USD 343,684 0.1515,457 Sociedad Quimica y Minera de Chile –

ADR – USD 510,385 0.21

957,575 0.40China

581,630 Agile Property Holdings HKD 532,720 0.222,425,175 Agricultural Bank of China – H – HKD 1,146,347 0.48

79,858 Alibaba Group Holding – ADR – USD 11,251,979 4.70328,164 Anhui Conch Cement – H – HKD 1,141,319 0.48

14,778 Autohome – ADR – USD 670,315 0.28445,199 BAIC Motor – H – HKD 431,714 0.18

5,045,174 Bank of China – H – HKD 2,475,263 1.03229,310 BYD Electronic International HKD 454,716 0.19

4,408 Changyou.com – ADR – USD 170,871 0.071,494,781 China Cinda Asset Management – H – HKD 557,208 0.23

170,649 China Communications Construction –H – HKD 219,912 0.09

4,661,100 China Construction Bank – H – HKD 3,612,354 1.51286,549 China Evergrande Group HKD 514,627 0.22741,436 China Huarong Asset Management – H

– HKD 287,781 0.1234,485 China Lesso Group Holdings HKD 26,505 0.01

498,083 China National Building Material – H – HKD 296,050 0.12913,990 China Petroleum & Chemical – H – HKD 713,026 0.30299,969 China Railway Construction – H – HKD 391,175 0.16225,577 China Railway Group – H – HKD 177,712 0.08271,004 China Shenhua Energyn – H – HKD 603,354 0.25

1,671,296 China Telecom – H – HKD 794,280 0.33






Currency Market

Value

% of

Net

Assets


244,775 China Yongda Automobiles ServicesHoldings HKD 249,276 0.10

182,648 China ZhengTong Auto ServicesHoldings HKD 146,232 0.06

191,625 Chinammunications Services – H – HKD 110,462 0.05645,268 CIFI Holdings Group HKD 286,824 0.12569,605 CNOOC HKD 623,859 0.26233,576 Country Garden Holdings HKD 270,784 0.11295,823 CSPC Pharmaceutical Group HKD 431,999 0.18

19,179 Ctrip.com International – ADR – USD 1,033,000 0.43482,795 Dongfeng Motor Group – H – HKD 570,836 0.24375,073 Fufeng Group HKD 201,795 0.09672,211 Geely Automobile Holdings HKD 1,450,087 0.61

1,000,787 Guangzhou Automobile Group – H – HKD 1,756,340 0.73421,006 Guangzhou R&F Properties – H – HKD 654,717 0.27247,442 Harbin Electric – H – HKD 124,886 0.05

3,986,546 Industrial & Commercial Bank of China– H – HKD 2,691,248 1.12

20,159 JA Solar Holdings – ADR – USD 128,010 0.05541,367 KWG Property Holding HKD 362,694 0.15444,044 Logan Property Holdings HKD 292,940 0.12278,727 Lonking Holdings HKD 87,477 0.04

1,760 Momo – ADR – USD 65,043 0.0310,087 NetEase – ADR – USD 3,032,326 1.2713,230 New Oriental Education & Technology

Group – ADR – USD 932,614 0.39454,999 Ping An Insurance Group of China – H – HKD 2,998,760 1.25281,038 Powerlong Real Estate Holdings HKD 120,963 0.05640,024 Shui On Land HKD 154,955 0.07

2,702 SINA USD 229,584 0.10111,811 Sino-Ocean Group Holding HKD 54,713 0.02126,920 Sinopec Shanghai Petrochemical – H – HKD 67,960 0.03197,669 Sinotruk Hong Kong HKD 143,571 0.06

6,314 TAL Education Group – ADR – USD 772,301 0.32183,878 Tencent Holdings HKD 6,576,445 2.75240,331 Tianneng Power International HKD 197,340 0.08244,064 Times Property Holdings HKD 152,570 0.06

94 Weibo – ADR – USD 6,262 0.0039,018 Weiqiao Textile – H – HKD 27,890 0.01

101,679 Yanzhou Coal Mining – H – HKD 91,175 0.0421,790 Yirendai – ADR – USD 544,740 0.23

557,454 Yuzhou Properties HKD 329,912 0.1415,305 YY – ADR – USD 888,155 0.37

239,887 Zhongsheng Group Holdings HKD 447,419 0.19

55,777,392 23.29Colombia

842 Bancolombia – ADR – USD 37,534 0.0136,560 Ecopetrol – ADR – USD 332,329 0.14

369,863 0.15Czech Republic

67,084 Moneta Money Bank CZK 224,426 0.09

224,426 0.09Greece

2,961 Motor Oil Hellas Corinth Refineries EUR 64,397 0.03

64,397 0.03Hong Kong

61,627 AIA Group HKD 450,372 0.19679,028 Brilliance China Automotive Holdings HKD 1,236,897 0.52603,672 China Agri-Industries Holdings HKD 250,549 0.10164,605 China Everbright HKD 358,459 0.15152,000 China Overseas Land & Investment HKD 444,914 0.19338,810 China Resources Cement Holdings HKD 168,397 0.07131,368 China State Construction International

Holdings HKD 224,825 0.09252,596 Haier Electronics Group HKD 656,855 0.27160,517 K Wah International Holdings HKD 97,464 0.04187,981 Kingboard Chemical Holdings HKD 748,894 0.31297,392 Kingboard Laminates Holdings HKD 358,861 0.15440,229 Lee & Man Paper Manufacturing HKD 408,849 0.17285,660 Nine Dragons Paper Holdings HKD 380,565 0.16

73,510 Shenzhen International Holdings HKD 134,845 0.06358,097 Shimao Property Holdings HKD 612,849 0.26611,641 Sun Art Retail Group HKD 487,342 0.20731,879 WH Group HKD 738,775 0.31

1,556,108 Yuexiu Property HKD 265,117 0.11

8,024,829 3.35


44






Currency Market

Value

% of

Net

Assets

SHARES USD %Hungary

7,534 MOL Hungarian Oil & Gas HUF 590,012 0.2424,871 OTP Bank HUF 830,528 0.3510,875 Richter Gedeon HUF 283,586 0.12

1,704,126 0.71India

24,883 Adani Enterprises INR 51,045 0.0259,207 Asian Paints INR 1,010,281 0.42

0 Aurobindo Pharma INR 1 0.0077,728 Balrampur Chini Mills INR 181,581 0.0810,412 Bharat Petroleum INR 102,995 0.0441,897 Chennai Petroleum INR 229,426 0.10

218,180 Federal Bank INR 380,918 0.1683,620 HCL Technologies INR 1,100,795 0.4694,202 HDFC Bank INR 2,407,688 1.00

2,667 HDFC Bank – ADR – USD 231,938 0.106,709 Hero MotoCorp INR 384,200 0.16

174,441 Hindalco Industries INR 515,328 0.2176,518 Hindustan Petroleum INR 604,151 0.2588,081 Housing Development Finance INR 2,200,692 0.92

106,773 Indian Oil INR 636,303 0.2746,917 IndusInd Bank INR 1,073,494 0.45

122,492 ITC INR 613,335 0.2617,283 Maruti Suzuki India INR 1,929,851 0.8149,747 Motherson Sumi Systems INR 355,568 0.15

684 MRF INR 722,594 0.30254,223 Oil & Natural Gas INR 618,671 0.26369,969 Power Finance INR 702,305 0.29

35,042 Power Grid of India INR 114,147 0.0514,831 Rajesh Exports INR 158,194 0.07

0 Reliance Infrastructure INR 0 0.00318,041 Rural Electrification INR 846,058 0.35155,288 Tata Motors INR 1,039,181 0.43

82,735 Tata Motors – A – INR 337,019 0.1414,995 Tata Steel INR 126,603 0.05

385,853 Vedanta INR 1,486,702 0.6242,025 Zee Entertainment Enterprises INR 319,457 0.13

20,480,521 8.55Indonesia2,710,142 Adaro Energy IDR 321,292 0.131,594,716 Astra International IDR 1,067,930 0.45

523,096 Bank Negara Indonesia Persero IDR 259,046 0.11903,303 Bank Rakyat Indonesia Persero IDR 1,033,605 0.43

1,362,368 Delta Dunia Makmur IDR 86,889 0.04418,784 Gajah Tunggal IDR 35,508 0.01

29,455 Gudang Garam IDR 173,049 0.07132,484 Indo Tambangraya Megah IDR 171,974 0.07

5,806,831 Telekomunikasi Indonesia Persero IDR 1,969,377 0.82194,225 Unilever Indonesia IDR 711,175 0.30

53,452 United Tractors IDR 110,093 0.05

5,939,938 2.48Luxembourg

10,685 Ternium – ADR – USD 300,130 0.13

300,130 0.13Malaysia1,040,907 AirAsia MYR 788,079 0.33

712,799 CIMB Group Holdings MYR 1,092,615 0.46198,797 Genting Malaysia MYR 254,711 0.11150,944 Malayan Banking MYR 338,623 0.14332,108 Malaysia Building Society MYR 102,898 0.04240,517 Public Bank MYR 1,138,528 0.47

3,715,454 1.55Malta

16,831 Brait ZAR 77,743 0.03

77,743 0.03Mexico

93,395 America Movil – ADR – USD 1,486,847 0.62162,681 Cemex – ADR – USD 1,532,458 0.64

12,405 Fomento Economico Mexicano – ADR – USD 1,219,925 0.512,285 Grupo Aeroportuario del Sureste – ADR

– USD 480,698 0.20274,619 Grupo Financiero Banorte – O – MXN 1,750,760 0.73121,679 Grupo Mexico – B – MXN 343,328 0.15






Currency Market

Value

% of

Net

Assets

SHARES USD %Mexico (continued)

65,314 Macquarie Mexico Real EstateManagement MXN 77,476 0.03

178,720 OHL Mexico MXN 258,703 0.11

7,150,195 2.99Peru

7,778 Credicorp USD 1,395,354 0.58

1,395,354 0.58Poland

9,502 Dino Polska PLN 120,145 0.051,538 KGHM Polska Miedz PLN 45,902 0.02

28,105 Powszechna Kasa Oszczednosci BankPolski PLN 261,168 0.11

325,297 Tauron Polska Energia PLN 314,042 0.13

741,257 0.31Qatar

4,809 Qatar National Bank QAR 166,864 0.07

166,864 0.07Russia

186,274 Alrosa RUB 272,016 0.11252,468,507 Federal Grid Unified Energy System RUB 730,117 0.31

10,126,080 Inter RAO UES RUB 654,869 0.2716,778 Lukoil – ADR – (traded in United

Kingdom) USD 817,093 0.3413,238 Lukoil – ADR – (traded in

United States) USD 645,898 0.2720,108 Magnit – GDR – USD 683,669 0.29

295,499 Magnitogorsk Iron & Steel Works RUB 166,275 0.074 Magnitogorsk Iron & Steel Works –

GDR – USD 28 0.0011,414 Mail.Ru Group – GDR – USD 300,749 0.1311,251 Novolipetsk Steel – GDR – USD 217,815 0.0928,435 Polymetal International GBP 318,016 0.13

6,668 Ros Agro – GDR – USD 77,679 0.037,827 Severstal – GDR – USD 102,687 0.04

15,530 Tatneft – ADR – USD 585,500 0.2531,824 Yandex – A – USD 835,063 0.35

6,407,474 2.68South Africa

68,088 Barloworld ZAR 565,389 0.2450,937 Bid ZAR 1,163,250 0.4978,518 Bidvest Group ZAR 944,313 0.39

101,430 Exxaro Resources ZAR 719,938 0.30296,815 FirstRand ZAR 1,068,104 0.45151,016 Growthpoint Properties ZAR 282,151 0.12

55,475 Investec ZAR 408,573 0.1723,867 Mondi GBP 624,378 0.2615,530 Naspers – N – ZAR 3,016,532 1.2619,003 Nedbank Group ZAR 302,820 0.1360,476 RMB Holdings ZAR 271,164 0.11

111,312 Sappi ZAR 739,872 0.3185,288 Standard Bank Group ZAR 937,595 0.39

4,502 Tiger Brands ZAR 126,398 0.05

11,170,477 4.67South Korea

726 BGF retail KRW 64,085 0.0313,243 Coway KRW 1,203,794 0.5016,999 DMS KRW 140,401 0.0628,469 Dongbu HiTek KRW 559,856 0.23

3,104 Dongkuk Steel Mill KRW 39,743 0.024,132 E-MART KRW 846,809 0.35

45,625 Hana Financial Group KRW 1,804,423 0.7520,305 Hankook Tire KRW 1,128,690 0.47

614 Hyundai Motor – Pref – KRW 62,571 0.03474 Hyundai Motor – Pref – (traded in South

Korea) KRW 46,857 0.0213,242 JB Financial Group KRW 73,608 0.0345,519 KB Financial Group KRW 2,295,552 0.96

84 KB Financial Group – ADR – USD 4,252 0.001,477 Korea Gas KRW 68,669 0.031,707 Korea Petrochemical Ind KRW 377,545 0.164,865 KT KRW 138,615 0.061,551 KT&G KRW 158,599 0.073,661 LG Chem KRW 931,212 0.39

21,559 LG Electronics KRW 1,511,172 0.633,080 LG Uplus KRW 41,995 0.02


45






Currency Market

Value

% of

Net

Assets

SHARES USD %South Korea (continued)

358 Lotte Chemical KRW 107,585 0.041,362 NAVER KRW 997,786 0.426,424 POSCO KRW 1,611,407 0.672,819 POSCO – ADR – USD 176,445 0.075,668 Samsung Electronics KRW 11,775,249 4.92

992 Samsung Electronics – GDR – USD 1,027,113 0.43813 Samsung Electronics – Pref – KRW 1,322,333 0.55

4,869 Samsung Life Insurance KRW 497,858 0.215,984 SD Biotechnologies KRW 67,208 0.03

50,688 Shinhan Financial Group KRW 2,184,081 0.91414 SK Holdings KRW 100,506 0.04

54,924 SK Hynix KRW 3,235,462 1.353,815 SK Innovation KRW 528,457 0.22

74,257 Woori Bank KRW 1,197,426 0.50


61,678 Glencore GBP 230,095 0.10

230,095 0.10Taiwan1,969,755 AU Optronics TWD 900,052 0.38

32,991 Catcher Technology TWD 394,227 0.16694,863 Cathay Financial Holding TWD 1,144,399 0.48

29,864 Chailease Holding TWD 83,249 0.0339,996 China General Plastics TWD 37,077 0.02

287,259 China Life Insurance TWD 286,125 0.12576,652 Compeq Manufacturing TWD 470,118 0.20

1,178,191 CTBC Financial Holding TWD 772,680 0.32216,867 E Ink Holdings TWD 201,753 0.08100,967 Formosa Chemicals & Fibre TWD 316,976 0.13

21,687 Formosa Plastics TWD 66,087 0.03727,215 Fubon Financial Holding TWD 1,158,237 0.48121,232 General Interface Solution Holding TWD 896,687 0.37473,018 Grand Pacific Petrochemical TWD 329,651 0.14163,006 Hannstar Board TWD 87,611 0.04786,183 Hon Hai Precision Industry TWD 3,023,781 1.26

1,903,806 Innolux TWD 995,086 0.428,511 Largan Precision TWD 1,356,891 0.57

315,507 Lite-On Technology TWD 518,585 0.22123,898 Macronix International TWD 68,018 0.03102,949 Micro-Star International TWD 239,267 0.10409,203 Nanya Technology TWD 737,157 0.31127,809 Pegatron TWD 400,402 0.17

27,731 Phison Electronics TWD 342,301 0.14219,000 Powertech Technology TWD 676,006 0.28

20,265 Radiant Opto-Electronics TWD 45,099 0.022,509,789 Shin Kong Financial Holding TWD 668,287 0.28

5,886 Silicon Motion Technology – ADR – USD 283,896 0.12260,852 Taiwan Semiconductor Manufacturing TWD 1,787,892 0.75162,432 Taiwan Semiconductor Manufacturing –

ADR – USD 5,678,608 2.3779,103 Tripod Technology TWD 251,975 0.10

1,155,793 Winbond Electronics TWD 693,400 0.29789,039 Wistron TWD 802,786 0.33

12,976 Yageo TWD 45,217 0.02923,817 Yuanta Financial Holding TWD 406,941 0.17

26,166,524 10.93Thailand

917,311 Airports of Thailand THB 1,275,918 0.536,079 Bangkok Bank THB 35,256 0.01

888,923 Charoen Pokphand Foods – NVDR – THB 648,963 0.27672,037 CP ALL THB 1,241,399 0.52

1,173,320 Esso Thailand – NVDR – THB 348,853 0.1566,944 Kiatnakin Bank – NVDR – THB 140,904 0.06

153,051 Krung Thai Bank – NVDR – THB 84,703 0.0332,419 PTT THB 353,109 0.15

179,040 PTT – NVDR – THB 1,950,092 0.81148,269 PTT Exploration & Production – NVDR

– THB 376,457 0.16586,749 PTT Global Chemical – NVDR – THB 1,183,171 0.49669,798 Sansiri – NVDR – THB 44,561 0.02

31,750 Siam Cement THB 469,195 0.20330,846 Star Petroleum Refining – NVDR – THB 142,195 0.06133,658 Supalai – NVDR – THB 102,299 0.04333,993 Thanachart Capital – NVDR – THB 452,271 0.19134,369 Tisco Financial Group – NVDR – THB 300,618 0.13

9,149,964 3.82






Currency Market

Value

% of

Net

Assets

SHARES USD %Turkey

127,735 Akbank TRY 355,369 0.1546,202 Haci Omer Sabanci Holding TRY 143,358 0.06

262,597 KOC Holding TRY 1,206,174 0.5049,476 Soda Sanayii TRY 92,138 0.0424,042 Tekfen Holding TRY 59,516 0.0260,872 Trakya Cam Sanayii TRY 66,877 0.0337,256 Tupras Turkiye Petrol Rafinerileri TRY 1,070,338 0.45

370,373 Turkiye Garanti Bankasi TRY 1,029,354 0.43258,294 Turkiye Halk Bankasi TRY 964,235 0.40388,097 Turkiye Is Bankasi – C – TRY 820,805 0.34280,607 Turkiye Vakiflar Bankasi – D – TRY 515,401 0.22451,140 Yapi ve Kredi Bankasi TRY 575,043 0.24

6,898,608 2.88United Arab Emirates

64,269 Abu Dhabi Commercial Bank AED 122,660 0.05998,251 Aldar Properties AED 625,105 0.26237,098 DAMAC Properties Dubai AED 203,985 0.08460,580 Dubai Investments AED 260,828 0.11696,164 Emaar Properties AED 1,474,607 0.62

82,148 First Abu Dhabi Bank AED 234,838 0.10


184,593 Old Mutual ZAR 460,971 0.19

460,971 0.19United States

2,240 Broadcom USD 522,093 0.229,238 Flex USD 150,674 0.06

76,364 Nexteer Automotive Group HKD 119,734 0.0527,721 Yum China Holdings USD 1,093,027 0.46


INVESTMENTS 228,851,963 95.57


46


AAMMF Fund of Mandates Emerging Market Equities 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets114 Mini MSCI Emerging Markets Future 09/17 USD 5,734,681 (37,445) (0.02)


DERIVATIVES (37,445) (0.02)





47


AAMMF Fund of Mandates Euro CorporateBonds 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Argentina

745,845 Argentine RepublicGovernment InternationalBond EUR 7.820% 31/12/33 799,173 0.13

149,996 City of Buenos AiresArgentina USD 7.500% 01/06/27 141,721 0.02

940,894 0.15Australia

47,336 APT Pipelines USD 4.200% 23/03/25 42,913 0.012,306,875 AusNet Services Holdings EUR 2.375% 24/07/20 2,464,031 0.38

203,125 Australia Pacific AirportsMelbourne EUR 3.125% 26/09/23 230,994 0.04

446,410 BHP Billiton Finance EUR 0.750% 28/10/22 449,072 0.07552,944 BHP Billiton Finance EUR 5.625% 22/10/79 646,278 0.10

1,181,863 Commonwealth Bank ofAustralia EUR 1.625% 04/02/19 1,212,876 0.19

992,379 Commonwealth Bank ofAustralia EUR 0.500% 11/07/22 989,886 0.15

1,241,128 National Australia Bank EUR 2.000% 12/11/20 1,316,802 0.201,069,457 National Australia Bank EUR 0.625% 10/11/23 1,061,991 0.17

513,853 Origin Energy Finance EUR 2.500% 23/10/20 546,833 0.08644,316 QBE Insurance Group GBP 6.115% 24/05/42 822,533 0.13982,744 Scentre Group Trust 1 via

Scentre Group Trust 2 EUR 1.375% 22/03/23 1,006,566 0.161,053,294 SGSP Australia Assets EUR 2.000% 30/06/22 1,111,107 0.17

908,050 Sydney Airport Finance EUR 2.750% 23/04/24 996,960 0.16

12,898,842 2.01Austria

399,398 Erste Group Bank EUR 7.125% 10/10/22 515,524 0.08769,210 UNIQA Insurance Group EUR 6.875% 31/07/43 941,527 0.14739,626 UNIQA Insurance Group EUR 6.000% 27/07/46 881,680 0.14

2,338,731 0.36Belgium

295,850 AG Insurance USD 6.750% 29/03/49 272,544 0.043,821,077 Anheuser-Busch InBev EUR 2.750% 17/03/36 4,074,693 0.631,234,017 Argenta Spaarbank EUR 3.875% 24/05/26 1,332,943 0.212,120,787 Belfius Bank EUR 3.125% 11/05/26 2,234,109 0.351,431,915 Belgium Government

Bond EUR 2.250% 22/06/57 1,524,740 0.241,901,355 Groupe Bruxelles

Lambert EUR 1.375% 23/05/24 1,899,741 0.301,201,267 KBC Group EUR 0.750% 18/10/23 1,189,543 0.18

578,085 Proximus EUR 0.500% 22/03/22 579,328 0.09177,510 RESA EUR 1.000% 22/07/26 172,843 0.03263,992 UCB EUR 4.125% 04/01/21 293,582 0.05

13,574,066 2.12Bermuda1,548,321 Bacardi EUR 2.750% 03/07/23 1,710,995 0.27

1,710,995 0.27Canada1,147,177 Great-West Lifeco EUR 2.500% 18/04/23 1,252,938 0.20

1,252,938 0.20Cayman Islands

125,252 Hutchison WhampoaEurope Finance 12 EUR 3.625% 06/06/22 141,775 0.02

150,588 Thames Water UtilitiesCayman Finance GBP 2.375% 03/05/23 172,123 0.03


591,701 UPCB Finance IV EUR 4.000% 15/01/27 617,735 0.09473,360 Viridian Group FundCo II EUR 7.500% 01/03/20 496,101 0.08626,843 XLIT EUR 3.250% 29/06/47 621,159 0.10769,211 Yorkshire Water Services

Bradford Finance GBP 3.750% 22/03/46 939,653 0.15

3,494,870 0.55Czech Republic

375,755 CEZ EUR 5.000% 19/10/21 447,891 0.071,419,679 EP Energy EUR 4.375% 01/05/18 1,468,457 0.23

485,969 EP Energy EUR 5.875% 01/11/19 547,050 0.08

2,463,398 0.38





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Denmark

545,969 Carlsberg Breweries EUR 3.375% 13/10/17 551,469 0.091,738,159 Carlsberg Breweries EUR 2.500% 28/05/24 1,894,691 0.30

565,238 Danske Bank EUR 1.250% 11/06/21 592,551 0.09350,878 Danske Bank GBP 5.375% 29/09/21 420,822 0.07

1,059,822 Danske Bank EUR 0.750% 02/06/23 1,064,496 0.171,723,032 DONG Energy EUR 3.000% 31/12/49 1,801,983 0.28

176,623 DONG Energy EUR 6.250% 31/12/49 210,609 0.032,577,810 ISS Global EUR 1.125% 09/01/20 2,629,730 0.411,208,366 Nykredit Realkredit EUR 0.875% 13/06/19 1,224,195 0.19

805,395 TDC EUR 1.750% 27/02/27 802,171 0.12558,815 Vestas Wind Systems EUR 2.750% 11/03/22 603,051 0.09

11,795,768 1.84Finland

256,284 Citycon EUR 3.750% 24/06/20 281,090 0.04824,239 Kojamo EUR 1.500% 19/06/24 819,043 0.13120,115 Nokia USD 3.375% 12/06/22 106,377 0.02443,775 Nokia EUR 2.000% 15/03/24 451,906 0.07

0 Sampo EUR 1.000% 18/09/23 0 0.001,243,312 Sampo EUR 1.250% 30/05/25 1,233,220 0.19

722,606 Teollisuuden Voima EUR 2.625% 13/01/23 749,129 0.12

3,640,765 0.57France

29,590 Accor EUR 4.125% 30/06/49 31,296 0.000 Aeroports de Paris EUR 1.500% 24/07/23 0 0.00

1,027,706 Aeroports de Paris EUR 1.500% 07/04/25 1,074,122 0.17899,243 Air Liquide Finance EUR 1.250% 03/06/25 925,568 0.14642,317 ALD EUR 0.750% 26/01/18 645,413 0.10385,390 APRR EUR 1.125% 15/01/21 395,686 0.06

1 APRR EUR 1.875% 15/01/25 0 0.00709,840 APRR EUR 1.625% 13/01/32 695,019 0.11177,510 Atos EUR 2.375% 02/07/20 186,346 0.03

1 Autoroutes du Sud de laFrance EUR 7.375% 20/03/19 1 0.00

118,340 Autoroutes du Sud de laFrance EUR 1.250% 18/01/27 118,592 0.02

0 AXA EUR 5.125% 04/07/43 0 0.00581,523 AXA EUR 3.375% 06/07/47 619,760 0.10

1,195,698 AXA EUR 3.941% 29/11/49 1,301,891 0.20649,391 AXA GBP 5.453% 29/11/49 814,871 0.13

1,027,706 Banque Federative duCredit Mutuel EUR 0.250% 14/06/19 1,033,359 0.16

928,252 Banque Federative duCredit Mutuel EUR 2.625% 24/02/21 1,008,107 0.16

385,390 Banque Federative duCredit Mutuel EUR 3.000% 28/11/23 440,951 0.07

706,548 Banque Federative duCredit Mutuel EUR 2.625% 18/03/24 790,521 0.12

186,272 BNP Paribas EUR 1.375% 21/11/18 190,231 0.03536,748 BNP Paribas EUR 2.250% 13/01/21 575,691 0.09

1,522,290 BNP Paribas EUR 2.875% 24/10/22 1,706,950 0.273,179,285 BNP Paribas EUR 0.750% 11/11/22 3,212,515 0.50

809,319 BNP Paribas EUR 1.125% 15/01/23 832,108 0.13456,045 BNP Paribas EUR 1.500% 17/11/25 457,725 0.07


192,695 BNP Paribas Cardif EUR 4.032% 29/11/49 206,140 0.03819,046 BPCE EUR 0.625% 20/04/20 830,816 0.13

1,348,865 BPCE EUR 0.375% 05/10/23 1,318,565 0.21887,551 BPCE USD 5.700% 22/10/23 867,458 0.14246,443 BPCE USD 4.500% 15/03/25 222,465 0.03

1,686,112 BPCE EUR 2.875% 22/04/26 1,789,110 0.280 Bureau Veritas EUR 3.750% 24/05/17 0 0.00

473,360 Bureau Veritas EUR 3.125% 21/01/21 511,959 0.08513,853 Bureau Veritas EUR 1.250% 07/09/23 514,059 0.08

1,479,251 Capgemini EUR 2.500% 01/07/23 1,605,220 0.25917,136 Carmila EUR 2.375% 18/09/23 974,868 0.15739,626 Carmila EUR 2.375% 16/09/24 779,577 0.1254,604 Casino Guichard

Perrachon EUR 4.407% 06/08/19 59,410 0.011,091,938 Christian Dior EUR 1.375% 19/06/19 1,115,035 0.17

359,697 Cie de Saint-Gobain EUR 4.500% 30/09/19 395,222 0.06


48





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France (continued)1,220,401 Cie Financiere et

Industrielle desAutoroutes EUR 0.375% 07/02/25 1,166,024 0.18

1,246,119 Coentreprise de Transportd’Electricite EUR 0.875% 29/09/24 1,235,154 0.19


385,390 Credit Agricole EUR 3.875% 13/02/19 409,969 0.06192,695 Credit Agricole EUR 0.875% 19/01/22 196,714 0.03

2,119,768 Credit Agricole EUR 0.750% 01/12/22 2,141,357 0.3354,603 Credit Agricole EUR 3.125% 17/07/23 62,473 0.01

928,252 Credit Agricole EUR 1.250% 14/04/26 935,905 0.15995,652 Credit Agricole EUR 1.875% 20/12/26 1,016,954 0.16770,780 Credit Agricole EUR 1.375% 03/05/27 774,297 0.12821,430 Credit Agricole

Assurances EUR 4.750% 27/09/48 915,986 0.141,159,462 Credit Agricole

Assurances EUR 4.250% 29/01/49 1,240,758 0.19385,390 Credit Agricole

Assurances EUR 4.500% 31/10/49 416,944 0.07513,853 Danone EUR 0.424% 03/11/22 509,988 0.08513,853 Electricite de France EUR 2.750% 10/03/23 571,398 0.09747,569 Electricite de France EUR 4.625% 26/04/30 973,468 0.1573,075 Electricite de France GBP 5.875% 18/07/31 111,167 0.02

1,317,573 Electricite de France EUR 5.625% 21/02/33 1,913,260 0.302,427,541 Electricite de France EUR 1.875% 13/10/36 2,204,370 0.34

325,435 Electricite de France EUR 5.000% 22/01/49 349,009 0.05650,871 Electricite de France EUR 4.125% 29/01/49 687,891 0.11806,126 Electricite de France EUR 5.375% 29/01/49 891,396 0.14591,701 Electricite de France GBP 5.875% 22/07/49 688,875 0.11

1,756,433 Electricite de France EUR 4.250% 29/12/49 1,866,869 0.29244,080 Engie EUR 1.500% 20/07/17 244,279 0.04

0 Engie EUR 0.500% 13/03/22 0 0.002,424,049 Engie EUR 0.875% 27/03/24 2,436,923 0.38

819,046 Eutelsat EUR 2.625% 13/01/20 861,681 0.13382,222 Eutelsat EUR 1.125% 23/06/21 388,985 0.06

1,508,836 Fromageries Bel EUR 1.500% 18/04/24 1,516,184 0.241,104,858 Gecina EUR 2.000% 30/06/32 1,095,003 0.17

147,925 Groupama EUR 6.000% 23/01/27 175,905 0.0329,586 Groupama EUR 7.875% 27/10/39 34,005 0.01

1,597,591 Groupama EUR 6.375% 29/05/49 1,786,417 0.281,331,326 Havas EUR 1.875% 08/12/20 1,384,090 0.221,220,401 HSBC France EUR 1.625% 03/12/18 1,249,759 0.191,656,761 Iliad EUR 2.125% 05/12/22 1,722,919 0.27

236,680 La Banque Postale EUR 2.750% 19/11/27 248,960 0.04663,888 La Mondiale EUR 5.050% 29/12/49 740,318 0.12887,551 La Mondiale USD 7.625% 31/12/49 835,593 0.13232,063 LVMH Moet Hennessy

Louis Vuitton EUR 0.750% 26/05/24 232,285 0.041,141,204 mFinance France EUR 1.398% 26/09/20 1,170,517 0.181,625,940 mFinance France EUR 2.000% 26/11/21 1,716,677 0.27

513,853 Orange EUR 4.125% 23/01/19 546,423 0.091,068,907 Orange EUR 4.000% 29/10/49 1,161,907 0.181,375,703 Orange EUR 5.000% 29/10/49 1,543,537 0.24

745,087 Orange EUR 5.250% 29/12/49 851,281 0.13327,618 PSA Banque France EUR 0.500% 17/01/20 329,539 0.05962,190 RCI Banque EUR 0.625% 10/11/21 961,494 0.15

0 RCI Banque EUR 1.250% 08/06/22 0 0.000 RCI Banque EUR 1.000% 17/05/23 0 0.00

1,186,359 RCI Banque EUR 1.375% 08/03/24 1,202,071 0.19199,995 Rexel EUR 3.500% 15/06/23 209,595 0.03

0 RTE Reseau de Transportd’Electricite EUR 2.000% 18/04/36 0 0.00

764,443 SapphireOne MortgagesFCT 2016-2 EUR 1.170% 25/06/61 762,539 0.12


1,557,618 Schlumberger FinanceFrance EUR 0.625% 12/02/19 1,573,692 0.25

192,695 SCOR EUR 3.000% 08/06/46 204,682 0.03256,927 SCOR EUR 3.875% 29/10/49 280,492 0.04449,622 SEB EUR 2.375% 25/11/22 479,591 0.07

2,310,770 SEB EUR 1.500% 31/05/24 2,332,075 0.36





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France (continued)

250,585 SFR Group EUR 5.625% 15/05/24 270,667 0.041,508,836 Societe Fonciere

Lyonnaise EUR 1.875% 26/11/21 1,581,758 0.25706,548 Societe Generale EUR 2.375% 28/02/18 718,827 0.11835,011 Societe Generale EUR 0.750% 19/02/21 849,432 0.13449,622 Societe Generale EUR 0.469% 22/05/24 450,802 0.07

0 Societe Generale EUR 9.375% 29/09/49 0 0.00769,211 SPIE EUR 3.125% 22/03/24 803,867 0.13256,927 Suez EUR 2.750% 09/10/23 288,696 0.04

1,212,986 TDF Infrastructure EUR 2.875% 19/10/22 1,320,791 0.211,174,066 TDF Infrastructure EUR 2.500% 07/04/26 1,224,118 0.19

473,360 Teleperformance EUR 1.500% 03/04/24 474,221 0.071,203,651 TOTAL EUR 2.250% 29/12/49 1,220,272 0.19

750,868 TOTAL EUR 2.625% 29/12/49 744,613 0.12885,780 TOTAL EUR 2.708% 29/12/49 903,174 0.14872,011 TOTAL EUR 3.369% 29/12/49 889,142 0.14529,269 TOTAL EUR 3.875% 29/12/49 571,364 0.09449,622 Total Capital International EUR 0.250% 12/07/23 441,015 0.07436,825 Transport et

Infrastructures Gaz France EUR 2.200% 05/08/25 465,265 0.07221,599 Unibail-Rodamco EUR 1.375% 09/03/26 225,089 0.04

99,376,488 15.50Germany1,091,938 Allianz EUR 2.241% 07/07/45 1,099,464 0.17

449,622 Allianz EUR 3.099% 06/07/47 473,671 0.07325,435 Allianz EUR 4.750% 29/10/49 375,435 0.06116,902 Bayer EUR 2.375% 02/04/75 118,098 0.02

1,192,572 Bayer EUR 3.000% 01/07/75 1,242,438 0.19671,580 Bundesrepublik





Deutschland EUR 4.750% 04/07/28 696,190 0.11513,853 Bundesschatzanweisungen EUR 0.000% 15/12/17 515,468 0.08539,546 Continental EUR 3.125% 09/09/20 589,119 0.09

1,305,187 Daimler EUR 0.500% 09/09/19 1,317,789 0.210 Daimler EUR 1.400% 12/01/24 0 0.00

2,708,805 Daimler EUR 1.500% 03/07/29 2,660,934 0.41982,855 Deutsche Bank EUR 1.000% 18/03/19 996,801 0.16899,243 Deutsche Bank EUR 1.500% 20/01/22 921,607 0.14273,016 Deutsche Bank EUR 1.125% 17/03/25 269,134 0.04

1,823,029 Deutsche Pfandbriefbank EUR 1.375% 15/01/18 1,836,848 0.29990,211 Deutsche Wohnen EUR 1.375% 24/07/20 1,022,557 0.16912,090 E.ON EUR 0.375% 23/08/21 909,313 0.14

1,676,940 EnBW EnergieBaden-Wuerttemberg EUR 3.625% 02/04/76 1,771,184 0.28

700,329 EnBW EnergieBaden-Wuerttemberg EUR 3.375% 05/04/77 735,144 0.11

109,207 Eurogrid EUR 1.625% 03/11/23 114,417 0.021,005,891 Eurogrid EUR 1.875% 10/06/25 1,067,689 0.17

436,825 Eurogrid EUR 1.500% 18/04/28 438,643 0.07260,138 Evonik Industries EUR 2.125% 07/07/77 260,019 0.04889,608 Fraport Frankfurt Airport

Services Worldwide EUR 5.250% 10/09/19 984,863 0.15637,820 Fresenius & Co EUR 4.000% 01/02/24 739,216 0.12419,433 HeidelbergCement EUR 2.250% 30/03/23 448,996 0.07

1,079,092 Henkel & Co EUR 0.000% 13/09/18 1,080,974 0.17473,360 IHO Verwaltungs EUR 3.250% 15/09/23 486,695 0.08

1,676,446 Kreditanstalt fuerWiederaufbau EUR 0.000% 28/04/22 1,682,817 0.26

1,973,196 LandwirtschaftlicheRentenbank EUR 0.625% 20/02/30 1,884,325 0.29

562,115 LEG Immobilien EUR 1.250% 23/01/24 565,916 0.09757,934 Symrise EUR 1.750% 10/07/19 780,535 0.12263,603 Unitymedia Hessen via

Unitymedia NRW EUR 5.750% 15/01/23 277,620 0.04645,955 Unitymedia Hessen via

Unitymedia NRW EUR 4.000% 15/01/25 683,518 0.11


49





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


857,966 Unitymedia Hessen viaUnitymedia NRW EUR 4.625% 15/02/26 933,758 0.15

0 Volkswagen FinancialServices EUR 0.750% 14/10/21 0 0.00

273,015 Volkswagen Leasing EUR 2.375% 06/09/22 294,477 0.05992,379 Volkswagen Leasing EUR 2.625% 15/01/24 1,081,915 0.17

1,537,829 Volkswagen Leasing EUR 1.375% 20/01/25 1,521,159 0.24

36,252,578 5.65Guernsey

898,768 Credit Suisse GroupFunding Guernsey EUR 1.250% 14/04/22 918,271 0.14

1,029,559 Credit Suisse GroupFunding Guernsey USD 3.800% 09/06/23 931,859 0.15

1,850,130 0.29Hong Kong1,156,812 CK Hutchison Finance 16 EUR 1.250% 06/04/23 1,167,187 0.18

199,118 CK Hutchison Finance 16 EUR 2.000% 06/04/28 201,072 0.03407,885 CK Hutchison Finance

16 II EUR 0.875% 03/10/24 395,503 0.06

1,763,762 0.27Iceland

502,945 Arion Banki EUR 2.500% 26/04/19 521,788 0.08710,041 Arion Banki EUR 1.625% 01/12/21 725,044 0.12517,738 Islandsbanki EUR 1.750% 07/09/20 531,976 0.08562,116 Landsbankinn EUR 3.000% 19/10/18 582,555 0.09414,190 Landsbankinn EUR 1.625% 15/03/21 423,571 0.07591,700 Landsbankinn HF EUR 1.375% 14/03/22 595,336 0.09

3,380,270 0.53India

355,020 ONGC Videsh EUR 2.750% 15/07/21 377,641 0.06

377,641 0.06Ireland

813,588 Allied Irish Banks EUR 4.125% 26/11/25 867,484 0.130 Aquarius + Investments

for Relx Finance EUR 0.172% 22/05/17 0 0.001 Bank of Ireland EUR 2.000% 08/05/17 1 0.00

129,878 Bank of Ireland EUR 3.250% 15/01/19 136,263 0.02494,584 Bank of Ireland EUR 1.250% 09/04/20 508,424 0.08

2,012,072 Bank of Ireland EUR 4.250% 11/06/24 2,126,182 0.33520,919 Cloverie for Zurich

Insurance EUR 1.750% 16/09/24 549,985 0.09873,650 Cloverie for Zurich

Insurance EUR 7.500% 24/07/39 999,433 0.1616 ESB Finance EUR 6.250% 11/09/17 16 0.00

889,608 ESB Finance DAC EUR 3.494% 12/01/24 1,032,087 0.160 ESB Finance DAC EUR 1.750% 07/02/29 0 0.00

1,380,744 European ResidentialLoan Securitisation2016-1 DAC EUR 1.127% 24/01/59 1,384,196 0.22

0 FCA Bank Ireland EUR 2.875% 26/01/18 0 0.00454,298 FCA Bank Ireland EUR 1.250% 13/06/18 459,758 0.07295,851 FCA Bank Ireland EUR 2.000% 23/10/19 307,471 0.05900,568 FCA Bank Ireland EUR 1.375% 17/04/20 922,785 0.14825,851 FCA Bank Ireland EUR 1.000% 15/11/21 830,095 0.13586,079 Fresenius Finance Ireland EUR 1.500% 30/01/24 593,030 0.09184,611 Fresenius Finance Ireland EUR 2.125% 01/02/27 189,546 0.03

1,336,355 Fresenius Finance Ireland EUR 3.000% 30/01/32 1,404,892 0.220 GAS Networks Ireland EUR 1.375% 05/12/26 0 0.00

826,019 GE Capital EuropeanFunding EUR 2.875% 18/06/19 871,200 0.14

2,493,725 Johnson ControlsInternational EUR 1.000% 15/09/23 2,465,550 0.38

411,707 Liberty Mutual FinanceEurope DAC EUR 1.750% 27/03/24 418,716 0.06

0 Lunar Funding V forSwisscom EUR 1.750% 15/09/25 0 0.00

912,089 PartnerRe Ireland FinanceDAC EUR 1.250% 15/09/26 872,160 0.14

1,102,634 Ryanair EUR 1.875% 17/06/21 1,163,767 0.18998,797 Silverback Finance EUR 3.126% 25/02/37 1,011,302 0.16





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Ireland (continued)

325,435 Smurfit KappaAcquisitions EUR 2.375% 01/02/24 334,271 0.05

295,850 Transmission Finance EUR 1.500% 24/05/23 304,867 0.05

19,753,481 3.08Italy

716,463 Assicurazioni Generali EUR 5.500% 27/10/47 799,709 0.131,059,884 Assicurazioni Generali EUR 5.000% 08/06/48 1,140,088 0.18

562,116 Beni Stabili SIIQ EUR 4.125% 22/01/18 575,314 0.091,042,480 Davide Campari-Milano EUR 2.750% 30/09/20 1,115,264 0.17

792,583 Enel EUR 6.500% 10/01/74 858,959 0.13295,850 Enel GBP 7.750% 10/09/75 383,477 0.06363,896 Enel GBP 6.625% 15/09/76 463,859 0.07

0 Eni EUR 0.625% 19/09/24 0 0.001,451,635 Eni EUR 1.500% 17/01/27 1,446,353 0.231,670,023 Intesa Sanpaolo EUR 4.000% 08/11/18 1,760,505 0.282,132,249 Intesa Sanpaolo EUR 3.000% 28/01/19 2,231,373 0.35

256,927 Intesa Sanpaolo EUR 4.375% 15/10/19 281,332 0.041,303,375 Intesa Sanpaolo EUR 1.125% 14/01/20 1,333,224 0.21

256,927 Intesa Sanpaolo EUR 4.125% 14/04/20 284,619 0.04753,235 Intesa Sanpaolo USD 5.250% 12/01/24 730,566 0.11

1,178,008 Intesa Sanpaolo EUR 1.375% 18/01/24 1,183,326 0.19466,852 Intesa Sanpaolo USD 5.710% 15/01/26 432,906 0.07709,841 Intesa Sanpaolo Vita EUR 5.350% 18/09/18 753,121 0.12873,650 Intesa Sanpaolo Vita EUR 4.750% 31/12/49 908,998 0.14645,955 Snam EUR 1.375% 19/11/23 663,400 0.10369,813 Telecom Italia GBP 6.375% 24/06/19 460,266 0.07892,820 Terna Rete Elettrica

Nazionale EUR 2.875% 16/02/18 909,489 0.14567,872 UniCredit EUR 2.125% 24/10/26 584,645 0.09

19,300,793 3.01Jersey

477,232 Delphi Automotive EUR 1.500% 10/03/25 475,343 0.07366,120 Heathrow Funding EUR 1.875% 23/05/22 389,393 0.06

864,736 0.13Luxembourg

710,336 Allergan Funding EUR 1.250% 01/06/24 707,589 0.11872,462 Allergan Funding EUR 2.125% 01/06/29 873,278 0.14427,140 CNH Industrial Finance

Europe EUR 6.250% 09/03/18 445,048 0.07549,181 CNH Industrial Finance

Europe EUR 1.375% 23/05/22 554,264 0.09147,733 DH Europe Finance EUR 1.000% 08/07/19 150,150 0.02

2,224,794 European FinancialStability Facility EUR 1.250% 24/05/33 2,186,658 0.34

710,041 Gazprom via Gaz Capital GBP 4.250% 06/04/24 835,745 0.131,676,160 GELF Bond Issuer I EUR 1.750% 22/11/21 1,742,447 0.27

128,463 GELF Bond Issuer I EUR 0.875% 20/10/22 127,597 0.02725,818 Glencore Finance Europe EUR 4.625% 03/04/18 751,021 0.12520,913 Glencore Finance Europe EUR 1.625% 18/01/22 531,172 0.08928,147 Glencore Finance Europe EUR 1.875% 13/09/23 940,763 0.15515,780 Glencore Finance Europe EUR 1.750% 17/03/25 504,508 0.0864,232 Grand City Properties EUR 2.000% 29/10/21 67,791 0.01

1,402,330 Novartis Finance EUR 0.125% 20/09/23 1,366,163 0.21880,154 Prologis International

Funding II EUR 1.876% 17/04/25 900,525 0.14675,441 SES EUR 4.750% 11/03/21 779,693 0.12628,481 SES EUR 5.625% 29/12/49 702,482 0.11915,301 Simon International

Finance EUR 1.375% 18/11/22 942,237 0.15253,715 Simon International

Finance EUR 1.250% 13/05/25 252,627 0.04511,085 Telecom Italia Finance EUR 7.750% 24/01/33 711,519 0.11

16,073,277 2.51Mexico1,369,343 America Movil EUR 3.000% 12/07/21 1,496,518 0.23

220,315 America Movil EUR 4.750% 28/06/22 262,937 0.04567,872 America Movil EUR 2.125% 10/03/28 579,087 0.09524,191 America Movil EUR 5.125% 06/09/73 551,947 0.0988,755 Mexico City Airport Trust USD 5.500% 31/10/46 78,985 0.01

267,555 Petroleos Mexicanos EUR 3.750% 15/03/19 282,070 0.041,065,061 Petroleos Mexicanos EUR 2.500% 21/08/21 1,088,261 0.17

828,381 Petroleos Mexicanos EUR 3.750% 21/02/24 859,056 0.14


50





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Mexico (continued)

622,173 Petroleos Mexicanos EUR 2.750% 21/04/27 561,429 0.09650,870 Petroleos Mexicanos EUR 4.875% 21/02/28 679,013 0.11739,625 Sigma Alimentos EUR 2.625% 07/02/24 776,150 0.12

7,215,453 1.13Netherlands1,239,671 ABN AMRO Bank EUR 4.750% 11/01/19 1,331,137 0.21

157,257 Achmea EUR 2.500% 19/11/20 168,134 0.031,723,327 Achmea EUR 6.000% 04/04/43 1,947,639 0.301,828,058 Achmea EUR 4.250% 29/12/49 1,771,078 0.28

655,163 Achmea Bank EUR 0.875% 17/09/18 662,415 0.10649,778 Achmea Bank EUR 2.750% 18/02/21 703,167 0.11648,740 Alliander EUR 4.500% 17/12/19 720,369 0.11311,784 ASML Holding EUR 0.625% 07/07/22 311,591 0.05254,450 ASML Holding EUR 1.375% 07/07/26 255,163 0.04210,037 ASR Nederland EUR 5.125% 29/09/45 237,141 0.04436,824 ATF Netherlands EUR 2.125% 13/03/23 451,047 0.07819,046 ATF Netherlands EUR 1.500% 15/07/24 802,018 0.12

1,702,139 BMW Finance EUR 1.500% 05/06/18 1,729,468 0.271,183,401 Cetin Finance EUR 1.423% 06/12/21 1,216,141 0.191,505,590 Cooperatieve Rabobank EUR 4.000% 11/01/22 1,750,262 0.27

294,181 Cooperatieve Rabobank EUR 4.750% 06/06/22 356,268 0.06218,388 Delta Lloyd

Levensverzekering EUR 9.000% 29/08/42 288,332 0.04391,813 Demeter Investments for

Swiss Life EUR 4.375% 29/12/49 428,245 0.07229,307 Demeter Investments for

Zurich Insurance EUR 3.500% 01/10/46 251,814 0.041,922,162 Deutsche Bahn Finance EUR 0.875% 11/07/31 1,771,416 0.28

900,272 Deutsche Bahn Finance EUR 1.500% 08/12/32 890,199 0.14417,149 Deutsche Telekom

International Finance EUR 5.375% 27/07/21 501,415 0.081,519,721 Deutsche Telekom

International Finance EUR 0.625% 03/04/23 1,514,896 0.24834,335 Deutsche Telekom

International Finance EUR 0.875% 30/01/24 835,242 0.13480,461 Deutsche Telekom

International Finance EUR 1.375% 30/01/27 480,408 0.071,465,494 Deutsche Telekom

International Finance EUR 1.500% 03/04/28 1,459,164 0.231,400,570 EDP Finance USD 4.900% 01/10/19 1,291,109 0.20

192,599 EDP Finance USD 5.250% 14/01/21 181,542 0.031,400,250 EDP Finance EUR 2.375% 23/03/23 1,488,555 0.23

523,655 ELM for Swiss LifeInsurance & PensionGroup EUR 4.500% 29/12/49 570,673 0.09

0 EnBW InternationalFinance EUR 6.125% 07/07/39 0 0.00

468,891 Enel Finance International EUR 5.250% 29/09/23 594,754 0.09314,514 Enel Finance International EUR 1.375% 01/06/26 313,671 0.05

1,472,710 Enexis Holding EUR 1.500% 20/10/23 1,542,568 0.24835,011 Enexis Holding EUR 0.875% 28/04/26 818,758 0.13184,315 Evonik Finance EUR 0.000% 08/03/21 182,024 0.03218,413 Gas Natural Fenosa

Finance EUR 1.375% 19/01/27 216,922 0.03949,001 General Motors Financial

International EUR 1.168% 18/05/20 969,425 0.15118,340 Generali Finance (traded

in Luxembourg) EUR 4.596% 30/11/49 121,130 0.02259,757 Generali Finance (traded

in United States) EUR 4.596% 30/11/49 265,880 0.04854,281 Heineken EUR 2.500% 19/03/19 890,080 0.14729,029 Heineken EUR 3.500% 19/03/24 853,022 0.13448,337 Heineken EUR 1.500% 07/12/24 465,163 0.07

1,162,593 Heineken EUR 2.875% 04/08/25 1,322,618 0.21963,744 Heineken EUR 2.020% 12/05/32 968,074 0.15

1,092,061 Iberdrola International EUR 3.500% 01/02/21 1,218,064 0.19109,206 Iberdrola International EUR 1.125% 21/04/26 108,236 0.02

0 ING Bank EUR 0.326% 05/06/17 0 0.001,714,985 ING Bank EUR 1.250% 13/12/19 1,766,977 0.282,600,797 ING Bank USD 4.125% 21/11/23 2,334,853 0.36

578,085 ING Groep EUR 2.500% 15/02/29 603,417 0.09803,825 innogy Finance GBP 6.500% 20/04/21 1,085,305 0.17118,340 innogy Finance GBP 4.750% 31/01/34 165,836 0.03





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Netherlands (continued)

452,113 innogy Finance II EUR 5.750% 14/02/33 667,197 0.10770,780 JAB Holdings EUR 1.250% 22/05/24 777,278 0.12770,780 JAB Holdings EUR 2.000% 18/05/28 779,724 0.12

2,836,970 Koninklijke KPN EUR 6.125% 29/03/49 3,016,834 0.47355,020 Koninklijke KPN GBP 6.875% 14/03/73 452,200 0.07325,435 LafargeHolcim Sterling

Finance Netherlands GBP 3.000% 12/05/32 366,378 0.0654,604 LeasePlan EUR 2.375% 23/04/19 56,802 0.01

1,747,175 LeasePlan EUR 1.000% 08/04/20 1,776,938 0.281,583,489 LeasePlan EUR 1.000% 24/05/21 1,605,490 0.25

922,791 LYB International FinanceII EUR 1.875% 02/03/22 954,869 0.15

355,020 Madrilena Red de GasFinance EUR 2.250% 11/04/29 360,528 0.06

1,153,816 Mylan EUR 2.250% 22/11/24 1,195,362 0.19752,976 Mylan EUR 3.125% 22/11/28 801,361 0.12769,211 NIBC Bank EUR 1.500% 31/01/22 784,238 0.12350,552 NN Group EUR 1.625% 01/06/27 347,428 0.05774,271 NN Group EUR 4.625% 13/01/48 832,826 0.13152,659 Petrobras Global Finance USD 6.125% 17/01/22 138,397 0.02377,209 Petrobras Global Finance USD 7.375% 17/01/27 350,734 0.05261,532 Petrobras Global Finance GBP 6.625% 16/01/34 290,257 0.05619,510 Petrobras Global Finance USD 7.250% 17/03/44 536,107 0.08244,668 Redexis Gas Finance EUR 2.750% 08/04/21 265,165 0.0488,755 Redexis Gas Finance EUR 1.875% 27/04/27 88,222 0.01

874,195 RELX Finance EUR 0.375% 22/03/21 873,218 0.142,790,554 RELX Finance EUR 1.000% 22/03/24 2,802,472 0.44

112,719 Repsol InternationalFinance EUR 3.875% 29/12/49 117,729 0.02

131,949 Repsol InternationalFinance EUR 4.500% 25/03/75 135,881 0.02

973,109 Samvardhana MothersonAutomotive SystemsGroup EUR 1.800% 06/07/24 957,987 0.15

1,124,054 Schaeffler Finance EUR 3.250% 15/05/25 1,206,177 0.191,205,885 Stedin Holding EUR 3.250% 29/12/49 1,272,359 0.20

218,412 Telefonica Europe EUR 6.500% 29/09/49 233,411 0.04648,487 Telefonica Europe EUR 3.750% 31/12/49 677,263 0.11

0 TenneT Holding EUR 6.655% 29/06/49 0 0.002,176,795 Teva Pharmaceutical

Finance Netherlands II EUR 1.250% 31/03/23 2,151,701 0.341,091,938 Teva Pharmaceutical

Finance Netherlands II EUR 1.125% 15/10/24 1,047,873 0.16251,174 Teva Pharmaceutical

Finance Netherlands II EUR 1.625% 15/10/28 229,611 0.04345,091 Unilever EUR 0.375% 14/02/23 341,742 0.05

0 Unilever EUR 1.000% 03/06/23 0 0.00703,288 Urenco Finance EUR 2.375% 02/12/24 759,116 0.12553,265 Vesteda Finance EUR 1.750% 22/07/19 567,882 0.09

1,035,476 Vesteda Finance EUR 2.500% 27/10/22 1,110,829 0.171,027,706 Volkswagen International

Finance EUR 1.125% 02/10/23 1,029,719 0.161,365,076 Volkswagen International

Finance EUR 1.875% 30/03/27 1,365,012 0.210 Volkswagen International

Finance EUR 3.300% 22/03/33 1 0.00969,898 Volkswagen International

Finance EUR 4.625% 29/03/49 1,040,251 0.16531,834 Volkswagen International

Finance EUR 2.500% 29/12/49 532,812 0.080 Volkswagen International

Finance EUR 3.500% 29/12/49 0 0.001,779,352 Volkswagen International

Finance EUR 3.875% 31/12/99 1,768,676 0.281,016,246 Vonovia Finance EUR 0.875% 30/03/20 1,034,528 0.163,110,593 Vonovia Finance EUR 1.625% 15/12/20 3,247,562 0.511,805,471 Vonovia Finance EUR 1.250% 06/12/24 1,803,609 0.28

898,458 Vonovia Finance EUR 4.000% 29/12/49 968,346 0.15631,409 Vonovia Finance EUR 4.625% 08/04/74 669,208 0.10417,506 Wolters Kluwer EUR 6.375% 10/04/18 438,300 0.07

2,603,778 Ziggo Secured Finance EUR 4.250% 15/01/27 2,764,147 0.43

90,764,582 14.16


51





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %New Zealand

520,276 ANZ New ZealandInternational EUR 0.400% 01/03/22 516,191 0.08

1,040,553 ASB Finance EUR 0.500% 10/06/22 1,030,432 0.16502,945 Chorus EUR 1.125% 18/10/23 500,564 0.08

2,047,187 0.32Norway

0 Statoil EUR 1.625% 09/11/36 0 0.00

0 0.00Panama2,985,651 Carnival EUR 1.125% 06/11/19 3,052,417 0.481,005,891 Carnival EUR 1.625% 22/02/21 1,048,335 0.161,055,431 Carnival EUR 1.875% 07/11/22 1,114,113 0.17

5,214,865 0.81Peru

139,641 Petroleos del Peru USD 5.625% 19/06/47 124,270 0.02

124,270 0.02Poland1,925,899 Tauron Polska Energia EUR 2.375% 05/07/27 1,935,047 0.30

1,935,047 0.30Portugal

29,586 Brisa ConcessaoRodoviaria EUR 1.875% 30/04/25 29,783 0.01


928,252 Galp Gas NaturalDistribuicao EUR 1.375% 19/09/23 924,547 0.14

1,065,061 Parpublica – ParticipacoesPublicas EUR 3.750% 05/07/21 1,168,553 0.18

2,422,255 0.38Romania1,486,647 Romania Government

International Bond EUR 2.875% 26/05/28 1,534,816 0.24

1,534,816 0.24Spain

513,853 Abertis Infraestructuras EUR 1.375% 20/05/26 509,851 0.08273,015 Banco Santander EUR 1.375% 09/02/22 279,965 0.04739,626 Bankia EUR 4.000% 22/05/24 768,586 0.12821,430 Bankia EUR 3.375% 15/03/27 836,786 0.13436,824 Bankinter EUR 2.500% 06/04/27 441,502 0.07

1,146,661 CaixaBank EUR 1.125% 17/05/24 1,144,418 0.18828,381 CaixaBank EUR 3.500% 15/02/27 866,373 0.13680,456 Canal de Isabel II Gestion EUR 1.680% 26/02/25 689,855 0.11

1,436,051 Cellnex Telecom EUR 2.375% 16/01/24 1,473,755 0.23533,315 Cellnex Telecom EUR 2.875% 18/04/25 552,881 0.09819,592 FCC Aqualia EUR 2.629% 08/06/27 818,933 0.13578,085 Ferrovial Emisiones EUR 1.375% 31/03/25 578,292 0.09

1,287,925 Gas Natural CapitalMarkets EUR 1.125% 11/04/24 1,297,997 0.20

798,796 IE2 Holdco EUR 2.375% 27/11/23 847,537 0.131,777,084 IE2 Holdco EUR 2.875% 01/06/26 1,896,831 0.30

295,850 Inmobiliaria Colonial EUR 1.863% 05/06/19 305,850 0.05118,340 Inmobiliaria Colonial EUR 2.728% 05/06/23 127,556 0.02

2,295,998 Inmobiliaria Colonial EUR 1.450% 28/10/24 2,257,336 0.35816,863 Mapfre EUR 4.375% 31/03/47 872,552 0.14539,546 Merlin Properties Socimi EUR 1.750% 26/05/25 537,863 0.08621,285 Santander Consumer

Finance EUR 1.100% 30/07/18 629,224 0.10933,105 Santander Consumer

Finance EUR 0.900% 18/02/20 950,894 0.152,123,137 Santander Consumer

Finance EUR 1.500% 12/11/20 2,202,493 0.341,686,346 Santander Consumer

Finance EUR 0.875% 24/01/22 1,695,402 0.26835,011 Santander Issuances EUR 2.500% 18/03/25 855,083 0.13436,824 Santander Issuances EUR 3.125% 19/01/27 459,127 0.07

1,420,081 Spain Government Bond EUR 4.000% 30/04/20 1,586,585 0.251,198,193 Spain Government Bond EUR 1.500% 30/04/27 1,195,767 0.19

355,020 Spain Government Bond EUR 3.450% 30/07/66 376,801 0.06236,680 Telefonica Emisiones GBP 5.597% 12/03/20 300,054 0.05





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Spain (continued)

163,809 Telefonica Emisiones EUR 1.460% 13/04/26 162,944 0.02770,780 Telefonica Emisiones EUR 2.932% 17/10/29 836,830 0.13

28,355,923 4.42Sweden1,161,407 Akelius Residential

Property EUR 1.750% 07/02/25 1,161,141 0.18304,726 Energa Finance EUR 2.125% 07/03/27 303,235 0.05400,877 Essity EUR 0.625% 28/03/22 399,688 0.06473,360 Essity EUR 1.125% 27/03/24 474,932 0.07579,884 Hemso Fastighets EUR 1.000% 09/09/26 554,099 0.09872,557 Intrum Justitia EUR 2.750% 15/07/22 878,976 0.14834,298 Molnlycke Holding EUR 1.500% 28/02/22 861,122 0.14628,828 Nordea Bank EUR 1.375% 12/04/18 636,955 0.10167,645 Nordea Bank EUR 4.000% 11/07/19 181,265 0.03154,156 Nordea Bank EUR 2.000% 17/02/21 163,961 0.03452,833 PZU Finance EUR 1.375% 03/07/19 463,192 0.07334,004 Scania EUR 0.018% 24/10/18 335,006 0.05835,011 Scania CV EUR 0.069% 20/04/20 838,108 0.13

4,741,251 Svenska Handelsbanken EUR 1.125% 14/12/22 4,888,159 0.761,183,401 Telia EUR 3.000% 04/04/78 1,219,400 0.19

420,995 Vattenfall EUR 3.000% 19/03/77 412,251 0.06


0 Credit Suisse EUR 1.375% 29/11/19 0 0.001,272,156 Credit Suisse EUR 1.125% 15/09/20 1,308,920 0.20

665,367 UBS Group FundingSwitzerland EUR 0.371% 20/09/22 671,469 0.11

1,039,643 UBS Group FundingSwitzerland EUR 1.750% 16/11/22 1,095,282 0.17


6,303,272 0.98United Arab Emirates1,927,489 Glencore Finance Dubai EUR 2.625% 19/11/18 1,994,621 0.31


684,067 Anglo American Capital EUR 1.500% 01/04/20 698,145 0.111 Aon EUR 2.875% 14/05/26 1 0.00

565,239 Aviva EUR 3.875% 03/07/44 609,047 0.10248,218 Aviva EUR 3.375% 04/12/45 255,690 0.04

1,030,918 Barclays EUR 1.875% 08/12/23 1,069,648 0.171,210,027 Barclays GBP 3.125% 17/01/24 1,427,243 0.221,127,266 Barclays EUR 2.625% 11/11/25 1,161,041 0.181,441,086 Barclays GBP 3.250% 12/02/27 1,674,408 0.261,638,092 Barclays Bank GBP 6.750% 16/01/23 1,915,156 0.301,156,170 BAT International Finance EUR 0.375% 13/03/19 1,161,704 0.18

744,240 BAT International Finance EUR 4.875% 24/02/21 862,807 0.13384,605 BAT International Finance EUR 1.000% 23/05/22 389,122 0.06

0 BAT International Finance EUR 2.375% 19/01/23 0 0.001,226,825 BG Energy Capital EUR 1.250% 21/11/22 1,270,079 0.20

696,913 BP Capital Markets EUR 1.117% 25/01/24 705,479 0.11573,878 BP Capital Markets EUR 0.830% 19/09/24 565,335 0.09

1,220,927 BP Capital Markets EUR 1.953% 03/03/25 1,293,278 0.201,053,399 British

Telecommunications EUR 0.625% 10/03/21 1,057,568 0.171 British

Telecommunications EUR 1.750% 10/03/26 0 0.001,826,783 British

Telecommunications EUR 1.500% 23/06/27 1,786,354 0.281,176,664 Cadent Finance EUR 0.625% 22/09/24 1,137,037 0.18

145,558 Centrica EUR 3.000% 10/04/76 149,347 0.02463,893 Channel Link Enterprises

Finance EUR 1.761% 30/06/50 467,189 0.07435,787 Channel Link Enterprises

Finance EUR 2.706% 30/06/50 440,191 0.071,155,527 Compass Group EUR 3.125% 13/02/19 1,212,533 0.192,337,217 Coventry Building Society EUR 2.500% 18/11/20 2,496,089 0.391,422,731 Credit Suisse EUR 1.000% 07/06/23 1,445,789 0.23

202,657 CYBG GBP 3.125% 22/06/25 228,388 0.04745,543 CYBG GBP 5.000% 09/02/26 861,809 0.13867,127 Diageo Finance EUR 1.125% 20/05/19 883,327 0.14

1,527,179 DS Smith EUR 2.250% 16/09/22 1,611,531 0.25


52





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United Kingdom (continued)1,708,562 EE Finance EUR 3.250% 03/08/18 1,768,445 0.28

789,920 FCE Bank EUR 1.660% 11/02/21 819,660 0.13892,214 FCE Bank EUR 1.615% 11/05/23 909,016 0.14927,490 Friends Life Holdings GBP 8.250% 21/04/22 1,363,346 0.21

1,708,388 G4S International Finance EUR 1.500% 09/01/23 1,733,648 0.27266,265 GKN Holdings GBP 3.375% 12/05/32 303,850 0.05651,951 Global Switch Holdings EUR 1.500% 31/01/24 653,421 0.10270,111 Hammerson EUR 1.750% 15/03/23 280,115 0.04

4,144,079 HSBC Holdings EUR 0.369% 27/09/22 4,180,812 0.651,665,393 HSBC Holdings GBP 6.375% 18/10/22 1,923,424 0.30

0 HSBC Holdings GBP 5.750% 20/12/27 0 0.00502,945 HSBC Holdings GBP 2.625% 16/08/28 574,692 0.09443,775 HSBC Holdings GBP 6.750% 11/09/28 665,927 0.10

1,638,092 Imperial Brands Finance EUR 5.000% 02/12/19 1,825,019 0.281,101,573 Imperial Brands Finance EUR 1.375% 27/01/25 1,097,168 0.17

410,061 Intu SGS Finance GBP 3.875% 17/03/23 506,772 0.08295,850 Investec GBP 4.500% 05/05/22 363,705 0.06691,402 ITV EUR 2.125% 21/09/22 717,492 0.11904,710 ITV EUR 2.000% 01/12/23 922,517 0.14

1 J Sainsbury GBP 1.250% 21/11/19 2 0.00167,451 Jaguar Land Rover

Automotive GBP 2.750% 24/01/21 195,103 0.03680,856 Jaguar Land Rover

Automotive EUR 2.200% 15/01/24 689,268 0.1192,601 Ladbrokes Group Finance GBP 5.125% 08/09/23 104,669 0.02

435,787 Lloyds Banking Group EUR 1.000% 09/11/23 435,763 0.07413,891 London Stock Exchange

Group GBP 9.125% 18/10/19 554,561 0.09532,530 Merlin Entertainments EUR 2.750% 15/03/22 557,237 0.09

1,514,576 Nationwide BuildingSociety EUR 0.500% 29/10/19 1,528,802 0.24

591,701 Nationwide BuildingSociety EUR 6.750% 22/07/20 701,334 0.11

1 Nationwide BuildingSociety EUR 1.125% 03/06/22 1 0.00


1,159,381 Nationwide BuildingSociety EUR 0.625% 19/04/23 1,148,651 0.18


168,635 Old Mutual GBP 8.000% 03/06/21 222,451 0.031,008,849 Pirelli International EUR 1.750% 18/11/19 1,030,926 0.16

567,873 Royal Bank of Scotland EUR 5.375% 30/09/19 633,558 0.101,508,836 Royal Bank of Scotland EUR 0.500% 15/05/24 1,494,069 0.234,123,730 Royal Bank of Scotland

Group EUR 2.000% 08/03/23 4,261,768 0.671,446,912 Royal Bank of Scotland

Group EUR 2.500% 22/03/23 1,538,298 0.242,466,748 Santander UK EUR 0.875% 13/01/20 2,508,611 0.39

391,813 Santander UK EUR 2.625% 16/07/20 419,494 0.071,043,764 Santander UK EUR 0.875% 25/11/20 1,062,501 0.17

468,035 Skipton Building Society GBP 1.750% 30/06/22 528,187 0.081,183,401 Sky EUR 1.500% 15/09/21 1,226,407 0.19

799,684 Sky EUR 1.875% 24/11/23 838,674 0.13391,813 Sky EUR 2.500% 15/09/26 421,169 0.07532,530 Smiths Group EUR 2.000% 23/02/27 541,356 0.08

2,396,387 SSE EUR 1.750% 08/09/23 2,532,957 0.40588,742 SSE EUR 5.625% 29/09/49 596,606 0.09277,804 SSE GBP 3.875% 29/12/49 325,571 0.05295,850 SSE GBP 3.625% 16/09/77 341,080 0.05458,614 Standard Chartered EUR 3.625% 23/11/22 506,870 0.08769,211 Tesco GBP 5.000% 24/03/23 968,180 0.15386,676 Tesco GBP 6.000% 14/12/29 514,029 0.08

1,201,267 Towd Point MortgageFunding 2016-Granite2 GBP 2.604% 20/08/51 1,374,849 0.21

1,194,169 Towd Point MortgageFunding 2016-Vantage1 GBP 2.304% 20/02/54 1,336,971 0.21

1,063,122 Towd Point MortgageFunding 2017-Auburn 11 GBP 1.404% 20/05/45 1,186,348 0.19

813,586 Trinity Acquisition EUR 2.125% 26/05/22 846,158 0.13949,679 TSB Banking Group GBP 5.750% 06/05/26 1,174,222 0.18





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United Kingdom (continued)

221,888 Virgin Media SecuredFinance GBP 4.875% 15/01/27 260,844 0.04


1,020,641 Vodafone Group EUR 0.500% 30/01/24 984,337 0.15457,385 William Hill GBP 4.875% 07/09/23 536,611 0.08

1,116,184 WPP Finance 2013 EUR 0.750% 18/11/19 1,131,279 0.181,165,946 Yorkshire Building

Society EUR 2.125% 18/03/19 1,206,427 0.192,441,356 Yorkshire Building

Society EUR 1.250% 17/03/22 2,498,098 0.39

92,476,240 14.43United States1,423,901 AbbVie EUR 0.375% 18/11/19 1,430,807 0.22

780,278 American InternationalGroup EUR 1.875% 21/06/27 772,793 0.12

414,190 American Tower EUR 1.375% 04/04/25 408,504 0.06642,317 Apple EUR 1.375% 17/01/24 668,052 0.10

2,185,443 AT&T EUR 1.800% 04/09/26 2,166,321 0.341,477,792 AT&T EUR 2.350% 04/09/29 1,462,054 0.231,342,674 AT&T EUR 3.550% 17/12/32 1,464,801 0.23

251,174 AT&T EUR 3.375% 15/03/34 265,739 0.041,566,526 AT&T (traded in

Luxembourg) EUR 2.450% 15/03/35 1,445,679 0.23371,301 AT&T (traded in

United States) EUR 2.450% 15/03/35 342,658 0.051,881,535 AT&T EUR 3.150% 04/09/36 1,857,169 0.29

661,225 AT&T USD 5.450% 01/03/47 626,463 0.101,483,038 Avery Dennison EUR 1.250% 03/03/25 1,451,751 0.23

520,913 Ball EUR 4.375% 15/12/23 590,661 0.09289,042 Bank of America EUR 4.625% 07/08/17 290,416 0.04739,626 Bank of America GBP 6.125% 15/09/21 1,000,577 0.16

4,139,333 Bank of America EUR 0.736% 07/02/22 4,155,062 0.65812,405 Bank of America EUR 1.625% 14/09/22 843,405 0.13

1,982,196 Bank of America EUR 0.451% 04/05/23 1,986,696 0.311,082,303 Bank of America EUR 1.379% 07/02/25 1,087,899 0.171,733,070 Bank of America EUR 1.776% 04/05/27 1,743,395 0.271,606,014 Becton Dickinson & Co EUR 0.368% 06/06/19 1,611,656 0.25

680,456 Becton Dickinson & Co EUR 1.000% 15/12/22 676,541 0.11497,795 Becton Dickinson & Co EUR 1.900% 15/12/26 494,806 0.08

1,377,769 Berkshire Hathaway EUR 1.300% 15/03/24 1,410,809 0.22546,031 Celanese US Holdings EUR 1.125% 26/09/23 538,456 0.08416,863 Citigroup EUR 5.000% 02/08/19 459,580 0.07

1,257,861 Citigroup EUR 0.750% 26/10/23 1,236,679 0.190 Citigroup EUR 2.125% 10/09/26 0 0.00

635,893 Coca-Cola EUR 0.000% 09/03/21 630,155 0.10626,843 Coca-Cola EUR 0.750% 09/03/23 631,983 0.10210,768 Coca-Cola European

Partners US EUR 1.875% 18/03/30 213,136 0.031,106,711 Continental Rubber of

America EUR 0.500% 19/02/19 1,115,033 0.171,217,720 Digital Euro Finco EUR 2.625% 15/04/24 1,294,757 0.20

669,509 DiscoveryCommunications EUR 1.900% 19/03/27 640,697 0.10

1,357,615 Ecolab EUR 1.000% 15/01/24 1,354,819 0.21307,684 Eli Lilly & Co EUR 2.125% 03/06/30 323,258 0.05733,525 FedEx EUR 1.000% 11/01/23 738,764 0.11378,967 FedEx EUR 1.625% 11/01/27 378,832 0.06841,435 General Electric EUR 1.250% 26/05/23 869,718 0.14

1,197,920 General Electric EUR 0.875% 17/05/25 1,182,925 0.182,916,912 General Electric EUR 1.500% 17/05/29 2,884,223 0.45

830,513 General Electric EUR 2.125% 17/05/37 814,721 0.13468,249 Goldman Sachs Group EUR 0.750% 10/05/19 474,353 0.07

2,184,123 Goldman Sachs Group EUR 0.371% 29/05/20 2,205,657 0.34483,715 Goldman Sachs Group EUR 0.671% 27/07/21 493,975 0.08

0 Goldman Sachs Group EUR 3.250% 01/02/23 0 0.00565,370 Goldman Sachs Group EUR 2.000% 27/07/23 594,517 0.09


2,213,062 Goldman Sachs Group EUR 1.250% 01/05/25 2,182,327 0.34715,300 HSBC Bank USA USD 7.000% 15/01/39 879,239 0.1464,232 Illinois Tool Works

(traded in Germany) EUR 1.250% 22/05/23 66,304 0.01


53





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United States (continued)

202,330 Illinois Tool Works(traded in United States) EUR 1.250% 22/05/23 208,859 0.03

701,410 International BusinessMachines EUR 1.250% 26/05/23 722,673 0.11

902,455 International Flavors &Fragrances EUR 1.750% 14/03/24 940,060 0.15

387,959 Johnson & Johnson EUR 0.650% 20/05/24 389,071 0.06312,329 JPMorgan Chase & Co EUR 1.500% 26/10/22 325,177 0.05

2,566,079 JPMorgan Chase & Co EUR 0.625% 25/01/24 2,507,788 0.39838,158 JPMorgan Chase & Co EUR 1.500% 27/01/25 860,131 0.13

2,751,668 JPMorgan Chase & Co EUR 1.638% 18/05/28 2,747,815 0.43610,201 Kellogg EUR 0.800% 17/11/22 607,748 0.09485,421 Kraft Heinz Foods EUR 2.250% 25/05/28 486,574 0.08431,364 Levi Strauss & Co EUR 3.375% 15/03/27 437,317 0.07163,810 McDonald’s EUR 0.500% 15/01/21 164,668 0.03748,354 McDonald’s EUR 1.000% 15/11/23 754,990 0.12

0 Merck & Co EUR 1.125% 15/10/21 0 0.00526,700 Metropolitan Life Global

Funding I EUR 2.375% 30/09/19 553,861 0.09794,358 Metropolitan Life Global

Funding I EUR 0.875% 20/01/22 808,466 0.131,128,550 Microsoft EUR 3.125% 06/12/28 1,346,043 0.21

468,891 Mohawk Industries EUR 2.000% 14/01/22 491,385 0.08785,192 Molson Coors Brewing EUR 1.250% 15/07/24 781,015 0.12143,487 Mondelez International EUR 2.375% 06/03/35 138,255 0.02

1,059,822 Morgan Stanley EUR 0.171% 03/12/19 1,063,476 0.171,027,706 Morgan Stanley EUR 5.375% 10/08/20 1,188,882 0.191,426,294 Morgan Stanley EUR 0.371% 27/01/22 1,436,888 0.221,367,610 Morgan Stanley EUR 1.000% 02/12/22 1,377,338 0.211,360,980 Morgan Stanley EUR 1.750% 11/03/24 1,407,192 0.22

438,154 Morgan Stanley EUR 1.375% 27/10/26 424,762 0.073,544,687 Morgan Stanley EUR 1.875% 27/04/27 3,548,597 0.55

1 MPT OperatingPartnership via MPTFinance EUR 4.000% 19/08/22 1 0.00

449,622 National Grid NorthAmerica EUR 1.750% 20/02/18 455,135 0.07

1,477,328 National Grid NorthAmerica EUR 0.750% 11/02/22 1,488,520 0.23

414,190 Omega HealthcareInvestors USD 4.375% 01/08/23 372,874 0.06

828,381 Parker-Hannifin EUR 1.125% 01/03/25 826,092 0.132,368,453 Pfizer EUR 0.000% 06/03/20 2,364,389 0.37

1 Philip MorrisInternational EUR 2.125% 30/05/19 1 0.00

328,690 Philip MorrisInternational EUR 1.750% 19/03/20 342,690 0.05

420,445 Philip MorrisInternational EUR 2.875% 14/05/29 477,971 0.07

807,969 Priceline Group EUR 0.800% 10/03/22 805,382 0.13441,914 Priceline Group EUR 2.375% 23/09/24 469,664 0.07262,642 Procter & Gamble (traded

in Luxembourg) EUR 1.125% 02/11/23 270,185 0.04688,545 Procter & Gamble (traded

in United States) EUR 1.125% 02/11/23 708,320 0.111,838,917 Prologis EUR 1.375% 07/10/20 1,897,623 0.301,783,385 Prologis EUR 3.000% 18/01/22 1,963,006 0.31

0 RELX Capital EUR 1.300% 12/05/25 0 0.001,092,061 Simon Property Group EUR 2.375% 02/10/20 1,159,019 0.181,794,936 Thermo Fisher Scientific EUR 1.500% 01/12/20 1,857,023 0.29

0 Thermo Fisher Scientific(traded in Luxembourg) EUR 0.750% 12/09/24 0 0.00

513,853 Thermo Fisher Scientific(traded in United States) EUR 0.750% 12/09/24 493,647 0.08

188,753 Thermo Fisher Scientific EUR 2.000% 15/04/25 197,165 0.03245,714 Thermo Fisher Scientific EUR 1.375% 12/09/28 234,104 0.04

1 T-Mobile USA USD 6.731% 28/04/22 1 0.00243,485 T-Mobile USA USD 6.000% 15/04/24 228,958 0.04118,340 United States Treasury

Bond USD 3.000% 15/02/47 107,054 0.02584,508 US Bancorp EUR 0.850% 07/06/24 579,450 0.09178,694 Valeant Pharmaceuticals

International USD 7.000% 15/03/24 165,094 0.03





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


191,410 Verizon Communications EUR 0.500% 02/06/22 188,502 0.031,184,886 Verizon Communications EUR 1.625% 01/03/24 1,212,781 0.191,034,503 VF EUR 0.625% 20/09/23 1,016,119 0.16

111,831 Walgreens Boots Alliance EUR 2.125% 20/11/26 115,516 0.02539,546 Wells Fargo & Co EUR 2.625% 16/08/22 592,925 0.09551,750 Wells Fargo & Co EUR 1.500% 12/09/22 574,057 0.09159,295 Wells Fargo & Co EUR 2.250% 02/05/23 172,192 0.03546,031 Wells Fargo & Co EUR 1.000% 02/02/27 521,141 0.08

1,091,938 ZF North America Capital EUR 2.750% 27/04/23 1,175,088 0.181,274,439 Zimmer Biomet Holdings EUR 1.414% 13/12/22 1,295,611 0.20

823,216 Zimmer Biomet Holdings EUR 2.425% 13/12/26 854,542 0.13

108,155,350 16.87


54






Currency Market

Value

% of

Net

Assets

OPEN ENDED FUNDS EUR %Ireland6,861,397 BNY Mellon Global Short-Dated High

Yield Bond Fund GBP 8,147,196 1.271,599,627 Insight Liquidity Funds – EUR Cash

Fund EUR 1,591,260 0.25


INVESTMENTS 625,158,250 97.52


AAMMF Fund of Mandates Euro Corporate Bonds 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(3) 10-Years US Note Future 09/17 USD (358,181) 646 0.00

(10) 2-Years US Note Future 09/17 USD (1,965,757) 2,558 0.00(64) 5-Years US Note Future 09/17 USD (6,601,998) 12,499 0.00

(1,358) Bundesrepublik Deutschland Future BOBL 09/17 EUR (178,924,593) 1,898,510 0.30(386) Bundesrepublik Deutschland Future BUND 09/17 EUR (62,462,729) 1,151,378 0.18

(52) Bundesrepublik Deutschland Future BUXL 09/17 EUR (8,477,995) 176,565 0.03(953) Bundesrepublik Deutschland Future SCHATZ 09/17 EUR (106,651,800) 283,739 0.05

(45) Long Gilt Future 09/17 GBP (6,404,599) 94,569 0.01(5) US Long Bond Future 09/17 USD (610,018) (4,306) 0.00

TOTAL FUTURES CONTRACTS 3,616,158 0.57

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS**

Purchased Sold


in Fund% ofNet

Amount Currency Amount Currency Maturity Date Currency Assets18,199,517 EUR 15,439,706 GBP 10/07/2017 617,485 0.10

30,079 EUR 25,517 GBP 10/07/2017 1,021 0.004,237,334 EUR 4,719,732 USD 14/07/2017 101,125 0.01

7,003 EUR 7,800 USD 14/07/2017 167 0.00503,398 USD 449,958 EUR 14/07/2017 (8,798) (0.00)

588 USD 526 EUR 14/07/2017 (10) (0.00)224,773 EUR 198,222 GBP 26/07/2017 (875) (0.00)

21,816,836 EUR 19,159,109 GBP 26/07/2017 6,856 0.00529,376 EUR 466,119 GBP 26/07/2017 (1,235) (0.00)372,947 EUR 327,531 GBP 26/07/2017 99 (0.00)

8,722,777 EUR 9,743,054 USD 26/07/2017 189,550 0.03144,294 EUR 162,600 USD 26/07/2017 1,885 0.00147,368 EUR 164,606 USD 26/07/2017 3,201 0.00108,386 EUR 123,841 USD 26/07/2017 (77) (0.00)219,938 GBP 249,623 EUR 26/07/2017 746 0.00

3,538 GBP 4,016 EUR 26/07/2017 12 0.00319,067 USD 279,249 EUR 26/07/2017 198 0.00

TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS 911,350 0.14

DERIVATIVES 4,527,508 0.71



* The counterparties for the future contracts are Merrill Lynch Pierce Fenner & Smith, Newedge and UBS.** The counterparties for the forward foreign exchange contracts are Barclays Bank, Citibank N.A., Goldman Sachs International, HSBC Bank and State Street Bank (London).


55


AAMMF Fund of Mandates Flexible Bonds 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS USD %Australia

240,000 FMG Resources August2006 USD 9.750% 01/03/22 274,500 0.11

45,000 FMG Resources August2006 USD 5.125% 15/05/24 45,112 0.02

319,612 0.13Bahamas

390,000 Silversea Cruise Finance USD 7.250% 01/02/25 417,787 0.17

417,787 0.17Bermuda1,025,000 Aircastle USD 5.000% 01/04/23 1,096,750 0.44

300,000 Catlin Insurance USD 4.133% 29/07/49 290,250 0.11478,780 Digicel USD 6.000% 15/04/21 460,825 0.1865,000 IHS Markit USD 4.750% 15/02/25 69,956 0.03

526,657 Kosmos Energy (traded inUnited States) USD 7.875% 01/08/21 539,824 0.21

531,445 Kosmos Energy (traded inUnited States) USD 7.875% 01/08/21 544,731 0.22

440,000 Weatherford International USD 8.250% 15/06/23 441,100 0.1845,000 Weatherford International USD 9.875% 15/02/24 47,250 0.02

3,490,686 1.39Brazil

290,000 Vale Overseas USD 6.250% 10/08/26 313,562 0.12

313,562 0.12Canada

270,000 Bombardier USD 8.750% 01/12/21 300,375 0.12455,000 Bombardier USD 6.125% 15/01/23 457,275 0.18210,000 Bombardier USD 7.500% 15/03/25 218,400 0.09957,559 Brookfield Residential

Properties USD 6.375% 15/05/25 995,861 0.40135,000 Clearwater Seafoods USD 6.875% 01/05/25 142,425 0.06756,471 Concordia International USD 7.000% 15/04/23 113,471 0.04

1,300,000 Entertainment One GBP 6.875% 15/12/22 1,857,497 0.74500,000 First Quantum Minerals USD 7.250% 15/05/22 513,750 0.20478,779 First Quantum Minerals USD 7.250% 01/04/23 469,204 0.19678,779 First Quantum Minerals USD 7.500% 01/04/25 665,204 0.26310,000 GW Honos Security USD 8.750% 15/05/25 325,113 0.13600,000 IAMGOLD USD 7.000% 15/04/25 619,500 0.25

2,154,507 Jupiter Resources USD 8.500% 01/10/22 1,626,653 0.65718,169 Kinross Gold USD 4.500% 15/07/27 718,169 0.29478,779 Kinross Gold USD 6.875% 01/09/41 513,491 0.20540,000 Lions Gate Entertainment USD 5.875% 01/11/24 571,050 0.23300,000 MEG Energy USD 6.500% 15/01/25 274,125 0.11146,985 New Gold USD 6.375% 15/05/25 151,762 0.06300,000 Norbord USD 5.375% 01/12/20 316,500 0.13394,000 Northern Blizzard

Resources USD 7.250% 01/02/22 395,231 0.16310,000 NOVA Chemicals USD 5.250% 01/06/27 309,225 0.12365,000 Taseko Mines USD 7.750% 15/04/19 365,657 0.14410,000 Taseko Mines USD 8.750% 15/06/22 410,000 0.16250,000 Teck Resources USD 3.750% 01/02/23 244,375 0.10520,000 Teck Resources USD 6.250% 15/07/41 542,100 0.21405,000 Tembec Industries USD 9.000% 15/12/19 421,240 0.17600,000 Valeant Pharmaceuticals

International USD 5.375% 15/03/20 582,000 0.231,101,193 Valeant Pharmaceuticals

International EUR 4.500% 15/05/23 1,036,044 0.41


205,000 Park Aerospace Holdings USD 5.500% 15/02/24 214,635 0.09151,294 Transocean USD 6.800% 15/03/38 111,201 0.05114,907 Transocean USD 9.350% 15/12/41 102,842 0.04813,925 UPCB Finance IV USD 5.375% 15/01/25 855,638 0.34850,000 UPCB Finance IV EUR 4.000% 15/01/27 1,012,124 0.4075,000 Vale Overseas USD 6.875% 21/11/36 80,813 0.03

2,377,253 0.95Denmark

929,311 Welltec USD 8.000% 01/02/19 903,755 0.36

903,755 0.36





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS USD %France1,017,885 SFR Group – 144A – USD 6.000% 15/05/22 1,066,234 0.42

215,000 SFR Group – REGS – USD 6.000% 15/05/22 225,213 0.09

1,291,447 0.51Germany

300,000 PrestigeBidCo EUR 6.250% 15/12/23 371,394 0.151,040,000 Unitymedia Hessen via

Unitymedia NRW USD 5.500% 15/01/23 1,081,600 0.430 Wittur International

Holding EUR 8.500% 15/02/23 0 0.00

1,452,994 0.58Ireland

332,273 Ardagh PackagingFinance via ArdaghHoldings USA USD 6.000% 15/02/25 349,717 0.14

349,717 0.14Italy

491,228 Telecom Italia USD 5.303% 30/05/24 528,684 0.21

528,684 0.21Jersey

475,000 Mercury Bondco EUR 7.125% 30/05/21 564,640 0.22

564,640 0.22Liberia

460,000 Eletson Holdings USD 9.625% 15/01/22 379,500 0.15


981,497 Accudyne IndustriesBorrower via AccudyneIndustries USD 7.750% 15/12/20 986,405 0.39

665,000 Altice Financing USD 6.500% 15/01/22 696,588 0.281,043,925 Altice Financing USD 6.625% 15/02/23 1,110,151 0.44

315,000 Altice Luxembourg USD 7.750% 15/05/22 334,688 0.13718,169 Altice Luxembourg USD 7.625% 15/02/25 789,986 0.31

1,040,000 ArcelorMittal USD 6.000% 01/03/21 1,124,500 0.45680,000 ARD Finance EUR 6.625% 15/09/23 826,276 0.33200,000 B&M European Value

Retail GBP 4.125% 01/02/22 269,948 0.110 Consolidated Energy

Finance (traded inUnited States) USD 6.750% 15/10/19 0 0.00

639,270 Consolidated EnergyFinance (traded inUnited States) USD 6.750% 15/10/19 652,854 0.26

818,143 Consolidated EnergyFinance USD 6.875% 15/06/25 844,732 0.34

2,803,120 Coveris Holdings USD 7.875% 01/11/19 2,775,088 1.10270,000 eDreams ODIGEO EUR 8.500% 01/08/21 336,011 0.13445,000 Intelsat Jackson Holdings USD 5.500% 01/08/23 370,463 0.15290,000 Intelsat Jackson Holdings USD 8.000% 15/02/24 313,200 0.12179,542 Mallinckrodt International

Finance via MallinckrodtCB USD 5.625% 15/10/23 164,730 0.07

478,779 Mallinckrodt InternationalFinance via MallinckrodtCB USD 5.500% 15/04/25 421,326 0.17

0 Matterhorn Telecom EUR 3.875% 01/05/22 0 0.00990,116 Topaz Marine USD 8.625% 01/11/18 993,294 0.39

2,000,000 Wind Acquisition Finance USD 4.750% 15/07/20 2,026,000 0.811,292,704 Wind Acquisition Finance

– 144A – USD 7.375% 23/04/21 1,345,220 0.54920,000 Wind Acquisition Finance

– REGS – USD 7.375% 23/04/21 957,375 0.38

17,338,835 6.90Marshall Islands

0 Navios South AmericanLogistics via NaviosLogistics Finance US USD 7.250% 01/05/22 0 0.00

0 0.00


56





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS USD %Mexico

526,657 Cemex EUR 4.375% 05/03/23 636,900 0.25720,000 Cemex USD 6.125% 05/05/25 777,600 0.31


350,000 Alcoa Nederland Holding USD 7.000% 30/09/26 385,875 0.15670,291 Constellium USD 7.875% 01/04/21 719,725 0.29789,986 Constellium EUR 7.000% 15/01/23 930,374 0.37340,000 Constellium USD 6.625% 01/03/25 326,400 0.13500,000 ING Bank USD 5.800% 25/09/23 565,341 0.22

0 ING Groep USD 6.000% 29/12/49 0 0.00418,932 LBC Tank Terminals

Holding Netherlands USD 6.875% 15/05/23 436,736 0.171,600,000 Schaeffler Finance EUR 3.250% 15/05/25 1,958,206 0.78

400,000 Schoeller Allibert Group EUR 8.000% 01/10/21 494,597 0.20420,000 VimpelCom Holdings USD 4.950% 16/06/24 422,344 0.17600,000 Ziggo Bond EUR 7.125% 15/05/24 769,203 0.31635,000 Ziggo Bond Finance USD 6.000% 15/01/27 643,731 0.26300,000 Ziggo Secured Finance USD 5.500% 15/01/27 307,125 0.12

7,959,657 3.17Puerto Rico

530,000 Popular USD 7.000% 01/07/19 559,150 0.22

559,150 0.22Supranational

718,169 Endo Dac via EndoFinance via Endo Finco USD 6.000% 01/02/25 588,899 0.23

1,196,948 JBS USA LUX via JBSUSA Finance USD 8.250% 01/02/20 1,202,933 0.48

493,621 JBS USA LUX via JBSUSA Finance USD 5.875% 15/07/24 465,238 0.19


239,390 Venator Finance viaVenator Materials USD 5.750% 15/07/25 242,382 0.10


400,000 Barclays USD 4.836% 09/05/28 409,394 0.16813,925 International Car Wash

Group Financing EUR 6.625% 15/07/19 944,078 0.37310,000 International Game

Technology USD 6.500% 15/02/25 341,775 0.14235,000 Jaguar Land Rover

Automotive – 144A – USD 5.625% 01/02/23 245,281 0.10460,000 Jaguar Land Rover

Automotive – REGS – USD 5.625% 01/02/23 480,125 0.19119,695 KCA Deutag UK Finance USD 7.250% 15/05/21 106,529 0.0495,756 KCA Deutag UK Finance USD 9.875% 01/04/22 93,362 0.04

190,000 Nemean Bondco GBP 7.375% 01/02/24 241,945 0.10295,000 Royal Bank of Scotland

Group USD 5.125% 28/05/24 310,339 0.12505,000 Sensata Technologies UK

Financing USD 6.250% 15/02/26 552,975 0.22590,000 Synlab Unsecured Bondco EUR 8.250% 01/07/23 752,939 0.30

0 TalkTalk Telecom Group GBP 5.375% 15/01/22 0 0.00957,558 Tullow Oil USD 6.250% 15/04/22 877,363 0.35

1,200,000 Virgin Media SecuredFinance USD 5.250% 15/01/26 1,253,472 0.50


968,702 A Schulman USD 6.875% 01/06/23 1,029,246 0.41295,000 ACCO Brands USD 5.250% 15/12/24 307,169 0.12345,000 Ahern Rentals USD 7.375% 15/05/23 284,625 0.11

1,253,385 Aircastle USD 4.125% 01/05/24 1,280,802 0.515,000 AK Steel USD 7.625% 01/10/21 5,227 0.00

735,000 AK Steel USD 7.000% 15/03/27 762,562 0.30718,169 Alere USD 6.500% 15/06/20 731,635 0.29110,000 Aleris International USD 9.500% 01/04/21 113,662 0.05957,559 Allegheny Technologies USD 7.875% 15/08/23 1,005,437 0.40747,853 Allegiant Travel USD 5.500% 15/07/19 779,637 0.31945,721 Alliance Resource

Operating Partners viaAlliance ResourceFinance USD 7.500% 01/05/25 997,735 0.40





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS USD %United States (continued)

857,255 Allison Transmission USD 5.000% 01/10/24 880,830 0.351,785,000 Ally Financial USD 5.750% 20/11/25 1,885,406 0.75

957,559 Ally Financial USD 8.000% 01/11/31 1,177,797 0.47584,590 Alpine Finance Merger

Sub USD 6.875% 01/08/25 596,281 0.24335,145 AMC Entertainment

Holdings GBP 6.375% 15/11/24 468,422 0.19545,000 AMC Entertainment

Holdings USD 5.875% 15/11/26 570,206 0.23478,779 AMC Entertainment

Holdings USD 6.125% 15/05/27 506,458 0.20957,559 American Airlines Group USD 5.500% 01/10/19 1,013,193 0.40435,000 American Axle &

Manufacturing USD 6.250% 01/04/25 425,212 0.17250,000 American Builders &

Contractors Supply USD 5.750% 15/12/23 265,000 0.11240,000 American Equity

Investment Life Holding USD 5.000% 15/06/27 247,523 0.10145,000 Antero Midstream

Partners via AnteroMidstream Finance USD 5.375% 15/09/24 148,988 0.06

436,168 Appvion USD 9.000% 01/06/20 228,988 0.09275,000 Archrock Partners via

Archrock PartnersFinance USD 6.000% 01/10/22 268,125 0.11

355,000 Ascent Resources UticaHoldings via ARUFinance USD 10.000% 01/04/22 356,775 0.14

285,000 Beazer Homes USA USD 8.750% 15/03/22 318,487 0.13680,824 Beazer Homes USA USD 6.750% 15/03/25 711,461 0.28370,000 BI-LO via BI-LO Finance USD 9.250% 15/02/19 318,200 0.13425,000 BlueLine Rental Finance

via BlueLine Rental USD 9.250% 15/03/24 443,062 0.18300,000 BMC East USD 5.500% 01/10/24 314,250 0.13300,000 Boise Cascade USD 5.625% 01/09/24 310,500 0.12165,000 Boyd Gaming USD 6.875% 15/05/23 177,169 0.07305,000 BWAY Holding USD 7.250% 15/04/25 310,337 0.12

1,153,858 C&S Group Enterprises USD 5.375% 15/07/22 1,142,320 0.45331,794 CalAtlantic Group USD 5.875% 15/11/24 360,826 0.14331,794 CalAtlantic Group USD 5.250% 01/06/26 345,481 0.14441,913 Cardtronics via

Cardtronics USA USD 5.500% 01/05/25 456,275 0.18898,669 Carlson Travel USD 6.750% 15/12/23 916,642 0.36751,683 Carlson Travel USD 9.500% 15/12/24 771,415 0.31525,000 Carmike Cinemas USD 6.000% 15/06/23 556,500 0.22215,000 Carrizo Oil & Gas USD 7.500% 15/09/20 219,569 0.09100,000 Carrizo Oil & Gas USD 6.250% 15/04/23 96,750 0.0490,000 Carrizo Oil & Gas USD 8.250% 15/07/25 92,250 0.04

310,000 CCM Merger USD 6.000% 15/03/22 318,525 0.132,807,559 CCO Holdings via CCO

Holdings Capital USD 5.125% 01/05/27 2,877,748 1.14837,864 CCO Holdings via CCO

Holdings Capital USD 5.875% 01/05/27 897,562 0.36239,390 Cemex Finance EUR 4.625% 15/06/24 296,199 0.12230,000 Centene USD 4.750% 15/05/22 241,213 0.10895,000 Centene USD 6.125% 15/02/24 969,894 0.39280,000 Century Communities USD 5.875% 15/07/25 279,300 0.11170,000 CenturyLink USD 5.625% 01/04/25 170,354 0.07460,000 CF Industries USD 5.150% 15/03/34 427,225 0.17957,559 Chemours USD 7.000% 15/05/25 1,048,527 0.42165,658 Chemours USD 5.375% 15/05/27 171,230 0.07575,000 Cheniere Corpus Christi

Holdings USD 5.125% 30/06/27 590,094 0.23741,098 Chesapeake Energy USD 8.000% 15/12/22 786,490 0.31478,779 Chesapeake Energy USD 8.000% 15/01/25 475,787 0.19100,000 Chesapeake Energy USD 8.000% 15/06/27 98,375 0.04450,293 CHS USD 5.125% 01/08/21 457,610 0.18716,733 CHS USD 6.875% 01/02/22 628,933 0.25

1,108,365 CHS USD 6.250% 31/03/23 1,148,377 0.46585,000 Cinemark USA USD 4.875% 01/06/23 600,538 0.24950,000 CIT Group USD 5.000% 15/08/22 1,026,000 0.41155,000 CIT Group USD 5.800% 31/12/99 161,975 0.06

1,196,948 Citgo Holding USD 10.750% 15/02/20 1,306,170 0.52


57





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


478,779 Clear Channel WorldwideHoldings – A – USD 7.625% 15/03/20 473,992 0.19

1,291,268 Clear Channel WorldwideHoldings – B – USD 7.625% 15/03/20 1,289,654 0.51

470,000 Cloud Crane USD 10.125% 01/08/24 517,000 0.21355,000 CNO Financial Group USD 4.500% 30/05/20 370,087 0.15650,000 Commercial Metals USD 4.875% 15/05/23 660,562 0.26390,205 Commercial Metals USD 5.375% 15/07/27 398,497 0.16670,291 Continental Resources USD 5.000% 15/09/22 660,237 0.26565,000 Continental Resources USD 4.500% 15/04/23 540,987 0.22718,169 Continental Resources USD 4.900% 01/06/44 603,262 0.2465,593 Covey Park Energy via

Covey Park Finance USD 7.500% 15/05/25 65,757 0.03410,000 Credit Acceptance USD 6.125% 15/02/21 422,300 0.17265,000 Credit Acceptance USD 7.375% 15/03/23 276,925 0.11500,000 Crown Cork & Seal USD 7.375% 15/12/26 581,250 0.23

1,196,948 CSVC Acquisition USD 7.750% 15/06/25 1,226,124 0.49957,559 CVR Partners via CVR

Nitrogen Finance USD 9.250% 15/06/23 1,005,437 0.40340,000 Dana USD 5.500% 15/12/24 354,450 0.14267,159 Deck Chassis Acquisition USD 10.000% 15/06/23 297,214 0.12586,505 Dell USD 7.100% 15/04/28 646,621 0.26

1,365,000 Dell International viaEMC USD 7.125% 15/06/24 1,501,166 0.60

478,779 DISH DBS USD 5.000% 15/03/23 491,946 0.20230,000 DISH DBS USD 5.875% 15/11/24 246,266 0.10

2,146,869 DISH DBS USD 7.750% 01/07/26 2,549,407 1.01270,000 DJO Finco via DJO

Finance USD 8.125% 15/06/21 252,450 0.10290,000 DJO Finco via DJO

Finance via DJO Finance USD 8.125% 15/06/21 271,150 0.11365,000 Dollar Tree USD 5.750% 01/03/23 387,009 0.15490,000 Dynegy USD 7.375% 01/11/22 485,100 0.19151,294 Eagle Holding II USD 7.625% 15/05/22 156,022 0.06360,000 Eldorado Resorts USD 6.000% 01/04/25 382,950 0.15240,000 Energy Transfer Equity USD 5.875% 15/01/24 255,600 0.10598,474 EnPro Industries (traded

in United States) USD 5.875% 15/09/22 626,902 0.25285,352 EnPro Industries (traded

in United States) USD 5.875% 15/09/22 298,907 0.12963,779 EP Energy via Everest

Acquisition Finance USD 9.375% 01/05/20 765,000 0.30335,000 EP Energy via Everest



Acquisition Finance USD 8.000% 15/02/25 718,169 0.29895,000 Equinix USD 5.875% 15/01/26 978,065 0.39

1,101,192 Ferrellgas via FerrellgasFinance USD 6.750% 15/01/22 1,040,627 0.41

450,000 First Data USD 7.000% 01/12/23 481,500 0.19705,000 First Data USD 5.000% 15/01/24 727,687 0.29140,000 First Quality Finance USD 5.000% 01/07/25 143,150 0.06220,000 Flex Acquisition USD 6.875% 15/01/25 229,213 0.09420,000 Freeport-McMoRan USD 4.550% 14/11/24 397,950 0.16310,000 Fresenius Medical Care

US Finance II USD 5.875% 31/01/22 344,875 0.14360,000 Fresenius Medical Care

US Finance II USD 4.750% 15/10/24 379,800 0.15957,559 Frontier Communications USD 8.125% 01/10/18 1,013,815 0.40135,000 Frontier Communications USD 7.125% 15/01/23 113,063 0.04460,000 Frontier Communications USD 11.000% 15/09/25 428,950 0.17957,559 Gates Global via Gates

Global USD 6.000% 15/07/22 964,740 0.381,268,765 Genesis Energy via

Genesis Energy Finance USD 6.000% 15/05/23 1,249,734 0.50335,000 Global Partners via GLP

Finance USD 7.000% 15/06/23 335,000 0.13365,000 GLP Capital via GLP

Financing II USD 5.375% 15/04/26 399,598 0.16989,158 Goodyear Tire & Rubber USD 4.875% 15/03/27 1,006,468 0.40125,000 GTT Communications USD 7.875% 31/12/24 134,063 0.05





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


310,000 Gulfport Energy USD 6.375% 15/05/25 306,512 0.12520,000 Halcon Resources USD 6.750% 15/02/25 470,600 0.19725,351 Halyard Health USD 6.250% 15/10/22 759,805 0.30478,779 HCA USD 5.375% 01/02/25 506,213 0.20

3,341,047 HCA USD 5.250% 15/06/26 3,611,672 1.44230,000 HD Supply USD 5.750% 15/04/24 244,950 0.10718,169 Hertz USD 7.625% 01/06/22 718,241 0.29957,559 High Ridge Brands USD 8.875% 15/03/25 958,756 0.38175,000 Hill-Rom Holdings USD 5.750% 01/09/23 185,063 0.07

1,077,253 Hughes Satellite Systems USD 5.250% 01/08/26 1,129,770 0.45370,000 Huntington Ingalls

Industries USD 5.000% 15/11/25 398,212 0.16460,000 IASIS Healthcare via

IASIS Capital USD 8.375% 15/05/19 462,530 0.18585,000 Icahn Enterprises via

Icahn Enterprises Finance USD 5.875% 01/02/22 601,819 0.24478,779 Icahn Enterprises via

Icahn Enterprises Finance USD 6.250% 01/02/22 500,324 0.20957,559 Icahn Enterprises via

Icahn Enterprises Finance USD 6.750% 01/02/24 1,000,745 0.40355,000 Ingles Markets USD 5.750% 15/06/23 351,006 0.14478,779 Iron Mountain USD 6.000% 01/10/20 496,734 0.20545,000 Iron Mountain US

Holdings USD 5.375% 01/06/26 574,975 0.23790,000 iStar USD 6.000% 01/04/22 811,725 0.32734,284 j2 Cloud Services via

j2 Global Co-Obligor USD 6.000% 15/07/25 759,984 0.30470,000 Jack Ohio Finance via

Jack Ohio Finance 1 USD 6.750% 15/11/21 492,325 0.201,750,896 JB Poindexter & Co USD 9.000% 01/04/22 1,840,629 0.731,185,000 JPMorgan Chase & Co USD 5.000% 29/12/49 1,213,144 0.48

787,592 KeHE Distributors viaKeHE Finance USD 7.625% 15/08/21 791,530 0.31

718,169 Kenan Advantage Group USD 7.875% 31/07/23 757,668 0.30370,000 KFC Holding USD 5.000% 01/06/24 386,650 0.15230,000 KFC Holding USD 5.250% 01/06/26 242,650 0.10135,000 KFC Holding USD 4.750% 01/06/27 138,206 0.06435,000 Kinetic Concepts via KCI

USA USD 7.875% 15/02/21 461,100 0.18230,000 L Brands USD 6.875% 01/11/35 223,100 0.09280,000 Lamb Weston Holdings USD 4.875% 01/11/26 291,550 0.12400,000 Landry’s USD 6.750% 15/10/24 410,500 0.16

1,265,000 Lennar USD 4.875% 15/12/23 1,349,597 0.541,237,559 Lennar USD 4.500% 30/04/24 1,282,234 0.51

840,000 Level 3 Financing USD 5.375% 15/01/24 878,850 0.35600,000 Liberty Mutual Group USD 4.151% 15/03/37 586,500 0.23

1,436,338 LPL Holdings USD 5.750% 15/09/25 1,497,382 0.60700,000 MGM Growth Properties

Operating Partnership viaMGP Finance Co-Issuer USD 5.625% 01/05/24 766,500 0.30

455,000 MGM ResortsInternational USD 6.000% 15/03/23 502,775 0.20

0 Micron Technology USD 5.625% 15/01/26 0 0.00640,000 MPH

Acquisition Holdings USD 7.125% 01/06/24 684,000 0.27340,000 MSCI USD 5.250% 15/11/24 362,100 0.14

1,149,070 Nabors Industries USD 5.500% 15/01/23 1,093,053 0.43460,000 Navient USD 6.125% 25/03/24 476,100 0.19505,000 Navient USD 6.750% 25/06/25 521,731 0.21595,000 Navistar International USD 8.250% 01/11/21 603,925 0.24440,000 NCL USD 4.750% 15/12/21 457,816 0.18395,000 Netflix USD 4.375% 15/11/26 395,000 0.16718,169 Newfield Exploration USD 5.375% 01/01/26 746,896 0.30575,000 NGL Energy Partners via

NGL Energy Finance USD 7.500% 01/11/23 569,969 0.23540,000 NRG Energy USD 6.250% 01/05/24 548,100 0.22

1,849,074 NRG Energy USD 7.250% 15/05/26 1,923,037 0.77390,000 NuStar Logistics USD 5.625% 28/04/27 410,475 0.16

1,196,948 Oasis Petroleum USD 6.875% 15/03/22 1,167,025 0.46670,000 Oasis Petroleum USD 6.875% 15/01/23 651,575 0.26369,618 Orchestra Borrower via

Orchestra Co-Issuer USD 6.750% 15/06/22 381,778 0.15


58





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


523,785 Ortho-ClinicalDiagnostics viaOrtho-ClinicalDiagnostics USD 6.625% 15/05/22 502,833 0.20

140,000 Park-Ohio Industries USD 6.625% 15/04/27 147,263 0.06973,358 PBF Holding via PBF

Finance USD 7.000% 15/11/23 963,625 0.381,196,948 Peabody Energy USD 6.375% 31/03/25 1,183,483 0.47

205,000 Penn National Gaming USD 5.625% 15/01/27 209,356 0.081,723,605 Penske Automotive Group USD 5.500% 15/05/26 1,719,297 0.68

260,000 PHI USD 5.250% 15/03/19 241,800 0.10255,000 Pinnacle Entertainment USD 5.625% 01/05/24 265,838 0.11670,291 Platform Specialty

Products USD 10.375% 01/05/21 743,185 0.301,562,559 Post Holdings USD 5.000% 15/08/26 1,562,559 0.621,412,399 Prime Security Services

Borrower via PrimeFinance USD 9.250% 15/05/23 1,538,328 0.61

450,000 QEP Resources USD 5.250% 01/05/23 427,500 0.17745,000 Quintiles IMS USD 5.000% 15/10/26 770,144 0.31755,000 Radiate Holdco via

Radiate Finance USD 6.625% 15/02/25 756,887 0.30957,559 RegionalCare Hospital

Partners Holdings USD 8.250% 01/05/23 1,031,769 0.41515,000 Reynolds Group Issuer USD 7.000% 15/07/24 553,414 0.22455,000 Sabine Pass Liquefaction USD 5.625% 01/03/25 502,659 0.20125,000 Scientific Games

International USD 7.000% 01/01/22 133,438 0.05585,000 Signode Industrial Group USD 6.375% 01/05/22 614,250 0.24957,559 Sirius XM Radio USD 5.375% 15/04/25 992,270 0.39

1,080,605 Sirius XM Radio USD 5.000% 01/08/27 1,094,112 0.44666,940 Six Flags Entertainment USD 4.875% 31/07/24 672,689 0.27943,195 SM Energy USD 6.125% 15/11/22 900,751 0.36957,559 SM Energy USD 6.750% 15/09/26 918,950 0.37400,738 Sonic Automotive USD 6.125% 15/03/27 399,736 0.16410,000 Springleaf Finance USD 5.250% 15/12/19 427,466 0.17

2,366,338 Sprint Capital USD 6.875% 15/11/28 2,636,266 1.05718,169 Sprint Capital USD 8.750% 15/03/32 906,688 0.36995,000 Sprint Communications USD 6.000% 15/11/22 1,057,187 0.42305,000 Summit Midstream

Holdings via SummitMidstream Finance USD 5.750% 15/04/25 308,050 0.12

755,992 SunCoke Energy Partnersvia SunCoke EnergyPartners Finance USD 7.500% 15/06/25 750,323 0.30

957,559 Sunoco via SunocoFinance USD 6.250% 15/04/21 1,003,043 0.40

530,000 Sunoco via SunocoFinance USD 6.375% 01/04/23 559,574 0.22

154,167 Surgery Center Holdings USD 6.750% 01/07/25 156,479 0.06260,000 Team Health Holdings USD 6.375% 01/02/25 252,850 0.10180,001 Teleflex USD 4.875% 01/06/26 184,951 0.07146,028 Tempo Acquisition via

TempoAcquisition Finance USD 6.750% 01/06/25 149,678 0.06

260,000 Tenet Healthcare USD 7.500% 01/01/22 282,698 0.11432,836 Tenet Healthcare USD 4.625% 15/07/24 434,460 0.17795,000 Tesoro Logistics via

Tesoro Logistics Finance USD 5.250% 15/01/25 837,731 0.33542,623 THC Escrow III USD 4.625% 15/07/24 545,445 0.22514,209 THC Escrow III USD 5.125% 01/05/25 517,423 0.21495,537 TIBCO Software USD 11.375% 01/12/21 547,568 0.22700,000 T-Mobile USA USD 6.500% 15/01/24 754,250 0.30

1,642,559 T-Mobile USA USD 6.500% 15/01/26 1,817,080 0.72650,000 TMS International USD 7.625% 15/10/21 661,375 0.2685,000 Tops Holding via Tops

Markets II USD 8.000% 15/06/22 70,231 0.03371,054 TransDigm USD 6.500% 15/05/25 378,475 0.15837,864 TransDigm USD 6.375% 15/06/26 852,526 0.34320,000 TreeHouse Foods USD 6.000% 15/02/24 342,400 0.14235,000 Tutor Perini USD 6.875% 01/05/25 247,925 0.10260,000 Ultra Resources USD 6.875% 15/04/22 258,375 0.10300,000 Unit USD 6.625% 15/05/21 288,750 0.11





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


600,000 Universal HospitalServices USD 7.625% 15/08/20 612,750 0.24

260,000 UnivisionCommunications USD 6.750% 15/09/22 271,050 0.11

171,403 USG USD 4.875% 01/06/27 176,759 0.07534,318 USIS Merger Sub USD 6.875% 01/05/25 545,004 0.22478,779 Valeant Pharmaceuticals

International USD 6.375% 15/10/20 466,211 0.19229,335 Valeant Pharmaceuticals


International USD 7.000% 15/03/24 378,385 0.15270,000 Vector Group USD 6.125% 01/02/25 281,137 0.11381,108 VeriSign USD 4.750% 15/07/27 387,301 0.15390,000 Viacom USD 5.875% 28/02/57 406,017 0.16

1,550,000 Voya Financial USD 5.650% 15/05/53 1,650,750 0.66625,000 WellCare Health Plans USD 5.250% 01/04/25 656,250 0.26718,169 West USD 5.375% 15/07/22 727,146 0.29622,413 Western Digital USD 10.500% 01/04/24 735,804 0.29315,000 Whiting Petroleum USD 5.750% 15/03/21 297,675 0.12180,000 Whiting Petroleum USD 6.250% 01/04/23 166,050 0.07666,000 WideOpenWest Finance

via WideOpenWestCapital USD 10.250% 15/07/19 686,812 0.27

230,000 WildHorse ResourceDevelopment USD 6.875% 01/02/25 216,775 0.09

460,000 WMG Acquisition USD 6.750% 15/04/22 484,725 0.19728,223 WMG Acquisition USD 5.000% 01/08/23 749,160 0.30415,000 WPX Energy USD 7.500% 01/08/20 437,825 0.17643,448 Wynn Las Vegas via

Wynn Las Vegas Capital USD 5.250% 15/05/27 659,936 0.26626,243 Xerium Technologies USD 9.500% 15/08/21 666,949 0.27762,695 York Risk Services

Holding USD 8.500% 01/10/22 737,908 0.29957,559 Zachry Holdings USD 7.500% 01/02/20 991,073 0.39525,000 Zayo Group via Zayo

Capital USD 6.000% 01/04/23 555,187 0.22304,982 Zayo Group via Zayo

Capital USD 5.750% 15/01/27 319,850 0.13770,000 ZF North America Capital USD 4.500% 29/04/22 811,387 0.32



59



Nominal Other transferable


market Instruments


Date

Market

Value

% of

Net

Assets

BONDS USD %United States1,117,142 Pinnacle Operating USD 9.000% 15/05/23 1,072,456 0.43

1,072,456 0.43





Currency Market

Value

% of

Net

Assets

SHARES USD %United States778,036 Pinnacle Oper – Pref – USD 398,355 0.16

398,355 0.16TOTAL OTHER TRANSFERABLE SECURITIESAND MONEY-MARKET INSTRUMENTS 1,470,811 0.59

INVESTMENTS 227,356,038 90.46



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(502) 10-Years US Note Future 09/17 USD (63,016,687) 188,250 0.07(341) 2-Years US Note Future 09/17 USD (73,693,297) 95,906 0.04(650) 5-Years US Note Future 09/17 USD (76,593,360) 198,046 0.08

(28) EUR/USD Currency Future 09/17 USD (3,980,368) (70,446) (0.03)(6) GBP/USD Currency Future 09/17 USD (507,461) (11,398) (0.01)

(41) US Long Bond Future 09/17 USD (6,301,188) (35,875) (0.01)



Purchased Sold


in Fund% ofNet

Amount Currency Amount Currency Maturity Date Currency Assets2,738,421 EUR 3,070,509 USD 14/07/2017 54,239 0.02

761,412 GBP 970,691 USD 14/07/2017 18,635 0.0110,162,413 USD 9,057,280 EUR 14/07/2017 (172,638) (0.07)

66,606 USD 59,363 EUR 14/07/2017 (1,131) (0.00)3,372,017 USD 2,657,990 GBP 14/07/2017 (81,590) (0.03)

22,101 USD 17,421 GBP 14/07/2017 (535) (0.00)

TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS (183,020) (0.07)

SHARE CLASS SPECIFIC FORWARD CURRENCY CONTRACTS**

FORWARDS HELD BY SHARE CLASSES AH EUR AND CH EUR

Purchased Sold


in Fund% ofNet


TOTAL SHARE CLASS SPECIFIC FORWARD CURRENCY CONTRACTS 96,282 0.04




* The counterparties for the future contracts are Newedge and UBS.** The counterparty for the forward foreign exchange contracts is State Street Bank & Trust.


60


AAMMF Pension Lifecycle 2015 30-06-2017




Currency Market

Value

% of

Net

Assets

OPEN ENDED FUNDS EUR %France

1,320 Amundi ETF Government Bond EuroMTSBroad Investment Grade 10-15 ETF – C – EUR 355,779 19.33

1,725 Lyxor UCITS ETF EuroMTS 10-15YInvestment Grade – EUR EUR 355,540 19.31

1,670 Lyxor UCITS ETF EuroMTS 15+YInvestment Grade EUR 348,262 18.92

1,059,581 57.56Ireland

1,650 iShares Euro Government Bond 10-15yrETF (traded in Netherlands) EUR 282,694 15.36

170 iShares Euro Government Bond 10-15yrETF (traded in United Kingdom) EUR 29,129 1.58

450 iShares Euro Government Bond 15-30yrETF EUR 100,769 5.47


1,120 db x-trackers II iBoxx SovereignsEurozone 15+ ETF EUR 352,475 19.15

352,475 19.15TOTAL TRANSFERABLE SECURITIES ANDMONEY MARKET INSTRUMENTS ADMITTEDTO AN OFFICIAL STOCK EXCHANGE LISTING 1,824,648 99.12

INVESTMENTS 1,824,648 99.12

NET OTHER ASSETS 16,084 0.88



61






Currency Market

Value

% of

Net

Assets

SHARES EUR %Argentina

1 MercadoLibre USD 139 0.00

139 0.00Australia

118 BHP Billiton GBP 1,585 0.02367 BWP Trust AUD 736 0.01228 Charter Hall Retail REIT AUD 624 0.01

1,352 Cromwell Property Group AUD 864 0.01865 Dexus AUD 5,518 0.06

1,550 Goodman Group AUD 8,201 0.091,550 GPT Group AUD 4,993 0.05

411 Investa Office Fund AUD 1,212 0.013,117 Mirvac Group AUD 4,465 0.054,579 Scentre Group AUD 12,473 0.13

487 Shopping Centres Australasia Property Group AUD 717 0.012,001 Stockland AUD 5,895 0.062,175 Vicinity Centres AUD 3,759 0.041,647 Westfield AUD 8,892 0.10

59,934 0.65Austria

4 ANDRITZ EUR 228 0.0090 BUWOG EUR 2,271 0.0314 Erste Group Bank EUR 474 0.01

709 IMMOFINANZ EUR 1,418 0.027 OMV EUR 332 0.00

11 Raiffeisen Bank International EUR 232 0.005 voestalpine EUR 181 0.00

5,136 0.06Belgium

9 Ageas EUR 318 0.0042 Anheuser-Busch InBev EUR 4,062 0.0416 Cofinimmo EUR 1,732 0.02

3 Colruyt EUR 160 0.005 Groupe Bruxelles Lambert EUR 394 0.01

15 KBC Group EUR 988 0.017 Proximus EUR 205 0.005 Solvay EUR 560 0.012 Telenet Group Holding EUR 86 0.008 UCB EUR 508 0.014 Umicore EUR 271 0.00

9,284 0.10Bermuda

2 Arch Capital Group USD 179 0.010 Axis Capital Holdings USD 17 0.001 Everest Re Group USD 169 0.003 Marvell Technology Group USD 40 0.001 RenaissanceRe Holdings USD 50 0.002 XL Group USD 87 0.00

542 0.01Brazil

740 BR Malls Participacoes BRL 2,341 0.0363 Iguatemi Empresa de Shopping Centers BRL 550 0.0181 Multiplan Empreendimentos Imobiliarios BRL 1,389 0.01

4,280 0.05Canada

78 Allied Properties Real Estate InvestmentTrust CAD 2,043 0.02

129 Artis Real Estate Investment Trust CAD 1,140 0.0132 Boardwalk Real Estate Investment Trust CAD 1,022 0.01

122 Canadian Apartment Properties REIT CAD 2,765 0.0366 Canadian Real Estate Investment Trust CAD 2,056 0.02

162 Chartwell Retirement Residences CAD 1,698 0.02149 Cominar Real Estate Investment Trust CAD 1,277 0.02

99 Dream Office Real Estate Investment Trust CAD 1,311 0.02125 First Capital Realty CAD 1,667 0.02

35 Granite Real Estate Investment CAD 1,220 0.01253 H&R Real Estate Investment Trust CAD 3,762 0.04

2 lululemon Athletica USD 80 0.00191 Pure Industrial Real Estate Trust CAD 888 0.01270 RioCan Real Estate Investment Trust CAD 4,390 0.05

91 Smart Real Estate Investment Trust CAD 1,968 0.024 Waste Connections USD 203 0.00

27,490 0.30Chile

28 Antofagasta GBP 255 0.00

255 0.00






Currency Market

Value

% of

Net

Assets

SHARES EUR %Denmark

0 AP Moeller - Maersk – A – DKK 266 0.000 AP Moeller - Maersk – B – DKK 628 0.016 Carlsberg – B – DKK 541 0.016 Chr Hansen Holding DKK 360 0.006 Coloplast – B – DKK 466 0.00

44 Danske Bank DKK 1,473 0.029 DONG Energy DKK 345 0.00

11 DSV DKK 606 0.013 Genmab DKK 635 0.015 H Lundbeck DKK 241 0.007 ISS DKK 239 0.00

100 Novo Nordisk – B – DKK 3,737 0.0412 Novozymes – B – DKK 476 0.01

6 Pandora DKK 490 0.0161 TDC DKK 312 0.00

2 Tryg DKK 34 0.0013 Vestas Wind Systems DKK 1,062 0.01

9 William Demant Holding DKK 193 0.00

12,104 0.13Finland

6 Elisa EUR 191 0.0022 Fortum EUR 298 0.0020 Kone – B – EUR 891 0.01

7 Metso EUR 229 0.006 Neste EUR 205 0.00

328 Nokia EUR 1,758 0.028 Nokian Renkaat EUR 297 0.006 Orion – B – EUR 327 0.01

26 Sampo – A – EUR 1,180 0.0127 Stora Enso – R – EUR 303 0.0032 UPM-Kymmene EUR 790 0.01

9 Wartsila EUR 444 0.01

6,913 0.07France

11 Accor EUR 464 0.011 Aeroports de Paris EUR 180 0.00

22 Air Liquide EUR 2,351 0.0333 Airbus EUR 2,348 0.0311 Alstom EUR 334 0.00

4 Arkema EUR 340 0.006 Atos EUR 716 0.01

105 AXA EUR 2,526 0.0364 BNP Paribas EUR 4,009 0.0432 Bollore EUR 129 0.0013 Bouygues EUR 466 0.0116 Bureau Veritas EUR 305 0.00

8 Capgemini EUR 754 0.0132 Carrefour EUR 706 0.01

5 Casino Guichard Perrachon EUR 246 0.0030 Cie de Saint-Gobain EUR 1,386 0.0210 Cie Generale des Etablissements Michelin EUR 1,180 0.01

6 CNP Assurances EUR 109 0.0060 Credit Agricole EUR 841 0.0132 Danone EUR 2,102 0.02

0 Dassault Aviation EUR 200 0.006 Dassault Systemes EUR 484 0.01

12 Edenred EUR 280 0.004 Eiffage EUR 347 0.00

29 Electricite de France EUR 273 0.0094 Engie EUR 1,245 0.0112 Essilor International EUR 1,371 0.02

1 Eurazeo EUR 80 0.0013 Eutelsat Communications EUR 283 0.0030 Fonciere Des Regions EUR 2,395 0.0332 Gecina EUR 4,408 0.0531 Groupe Eurotunnel EUR 289 0.00

2 Hermes International EUR 801 0.0130 ICADE EUR 2,221 0.03

2 Iliad EUR 354 0.002 Imerys EUR 162 0.003 Ingenico Group EUR 254 0.003 Ipsen EUR 320 0.005 JCDecaux EUR 142 0.004 Kering EUR 1,221 0.01

191 Klepierre EUR 6,858 0.074 Lagardere EUR 123 0.00

14 Legrand EUR 859 0.01


62






Currency Market

Value

% of

Net

Assets


14 L’Oreal EUR 2,585 0.0315 LVMH Moet Hennessy Louis Vuitton EUR 3,341 0.0461 Natixis EUR 357 0.00

118 Orange EUR 1,643 0.0213 Pernod Ricard EUR 1,476 0.0230 Peugeot EUR 525 0.0112 Publicis Groupe EUR 760 0.01

2 Remy Cointreau EUR 162 0.0010 Renault EUR 813 0.0118 Rexel EUR 257 0.0018 Safran EUR 1,412 0.0266 Sanofi EUR 5,556 0.0630 Schneider Electric EUR 2,045 0.0212 SCOR EUR 410 0.01

2 SEB EUR 274 0.002 Societe BIC EUR 198 0.00

41 Societe Generale EUR 1,944 0.025 Sodexo EUR 531 0.01

15 Suez EUR 251 0.006 Thales EUR 591 0.01

133 TOTAL EUR 5,758 0.0677 Unibail-Rodamco EUR 16,938 0.18

9 Unibail-Rodamco (traded in Netherlands) EUR 2,021 0.0212 Valeo EUR 730 0.0131 Veolia Environnement EUR 572 0.0127 Vinci EUR 2,025 0.0255 Vivendi EUR 1,077 0.01

1 Wendel EUR 139 0.0013 Zodiac Aerospace EUR 314 0.00

101,167 1.09Germany

10 adidas EUR 1,689 0.0226 Allianz EUR 4,477 0.05

114 alstria office REIT EUR 1,349 0.023 Axel Springer EUR 181 0.00

51 BASF EUR 4,105 0.0447 Bayer EUR 5,340 0.0620 Bayerische Motoren Werke EUR 1,595 0.02

3 Bayerische Motoren Werke – Pref – EUR 232 0.005 Beiersdorf EUR 502 0.019 Brenntag EUR 454 0.01

63 Commerzbank EUR 658 0.016 Continental EUR 1,117 0.016 Covestro EUR 403 0.00

53 Daimler EUR 3,347 0.04110 Deutsche Bank EUR 1,716 0.02

11 Deutsche Boerse EUR 1,057 0.0144 Deutsche Euroshop EUR 1,514 0.0216 Deutsche Lufthansa EUR 312 0.0053 Deutsche Post EUR 1,746 0.02

184 Deutsche Telekom EUR 2,895 0.03309 Deutsche Wohnen EUR 10,352 0.11130 E.ON EUR 1,073 0.01

7 Evonik Industries EUR 183 0.002 Fraport Frankfurt Airport Services

Worldwide EUR 188 0.0022 Fresenius & Co EUR 1,668 0.0213 Fresenius Medical Care & Co EUR 1,056 0.01

5 FUCHS PETROLUB – Pref – EUR 220 0.0011 GEA Group EUR 388 0.00

3 Hannover Rueck EUR 307 0.009 HeidelbergCement EUR 747 0.016 Henkel & Co EUR 606 0.01

11 Henkel & Co – Pref – EUR 1,289 0.011 HOCHTIEF EUR 220 0.003 HUGO BOSS EUR 157 0.00

68 Infineon Technologies EUR 1,261 0.018 Innogy EUR 281 0.00

14 K+S EUR 305 0.006 LANXESS EUR 402 0.00

49 LEG Immobilien EUR 4,001 0.0410 Linde EUR 1,647 0.02

2 MAN EUR 196 0.007 Merck EUR 703 0.01

13 METRO EUR 374 0.00






Currency Market

Value

% of

Net

Assets

SHARES EUR %Germany (continued)

10 MuenchenerRueckversicherungs-Gesellschaft inMuenchen EUR 1,686 0.02

5 OSRAM Licht EUR 346 0.007 Porsche Automobil Holding – Pref – EUR 358 0.00

14 ProSiebenSat.1 Media EUR 499 0.0125 RWE EUR 444 0.0156 SAP EUR 5,121 0.06

4 Schaeffler – Pref – EUR 50 0.0042 Siemens EUR 5,095 0.06

8 Symrise EUR 507 0.01107 TAG Immobilien EUR 1,471 0.02

24 Telefonica Deutschland Holding EUR 107 0.0022 thyssenkrupp EUR 542 0.0131 TUI GBP 399 0.00

7 United Internet EUR 329 0.001 Volkswagen EUR 182 0.00

11 Volkswagen – Pref – EUR 1,467 0.02403 Vonovia EUR 13,996 0.15

6 Zalando EUR 251 0.00


584 Hang Lung Group HKD 2,120 0.021,949 Hang Lung Properties HKD 4,268 0.05

972 Henderson Land Development HKD 4,754 0.051,039 Hongkong Land Holdings USD 6,708 0.07

541 Hysan Development HKD 2,263 0.031,874 Link REIT HKD 12,502 0.142,734 Sino Land HKD 3,930 0.04

987 Swire Properties HKD 2,853 0.031,055 Wharf Holdings HKD 7,665 0.08

732 Wheelock & Co HKD 4,844 0.05

51,907 0.56Ireland

9 Accenture – A – USD 943 0.016 AerCap Holdings USD 255 0.001 Alkermes USD 59 0.002 Allegion USD 107 0.00

1,571 Bank of Ireland EUR 361 0.0049 CRH EUR 1,529 0.02

5 DCC GBP 419 0.000 Jazz Pharmaceuticals USD 67 0.009 Kerry Group – A – EUR 671 0.01

20 Medtronic USD 1,522 0.025 Paddy Power Betfair EUR 482 0.012 Perrigo USD 134 0.00

11 Ryanair Holdings EUR 194 0.00

6,743 0.07Italy

73 Assicurazioni Generali EUR 1,054 0.0125 Atlantia EUR 625 0.01

458 Enel EUR 2,148 0.02143 Eni EUR 1,883 0.02

7 Ferrari EUR 547 0.01714 Intesa Sanpaolo EUR 1,981 0.02

66 Intesa Sanpaolo – RSP – EUR 172 0.008 Luxottica Group EUR 413 0.01

25 Mediobanca EUR 211 0.0031 Poste Italiane EUR 186 0.0015 Prysmian EUR 378 0.00

7 Recordati EUR 264 0.0036 Saipem EUR 117 0.00

135 Snam EUR 515 0.01551 Telecom Italia EUR 445 0.01389 Telecom Italia – RSP – EUR 251 0.00

86 Terna Rete Elettrica Nazionale EUR 407 0.01113 UniCredit EUR 1,841 0.02

85 UnipolSai Assicurazioni EUR 163 0.00

13,601 0.15Japan

1 Activia Properties JPY 2,021 0.021 Advance Residence Investment JPY 2,630 0.03

86 Aeon Mall JPY 1,482 0.021 AEON REIT Investment JPY 1,054 0.01

543 Daiwa House Industry JPY 16,264 0.171 Daiwa House REIT Investment JPY 2,618 0.03


63






Currency Market

Value

% of

Net

Assets

SHARES EUR %Japan (continued)

0 Daiwa Office Investment JPY 1,478 0.021 Frontier Real Estate Investment JPY 1,486 0.022 GLP J-REIT JPY 2,132 0.02

486 Hulic JPY 4,350 0.051 Hulic REIT JPY 1,105 0.010 Industrial & Infrastructure Fund Investment JPY 1,138 0.013 Invincible Investment JPY 1,169 0.011 Japan Excellent JPY 948 0.013 Japan Hotel REIT Investment JPY 1,916 0.021 Japan Logistics Fund JPY 1,492 0.021 Japan Prime Realty Investment JPY 2,328 0.021 Japan Real Estate Investment JPY 4,951 0.052 Japan Rental Housing Investments JPY 990 0.012 Japan Retail Fund Investment JPY 3,606 0.040 Kenedix Office Investment JPY 1,718 0.021 Kenedix Retail REIT JPY 728 0.011 LaSalle Logiport REIT JPY 869 0.01

1,125 Mitsubishi Estate JPY 18,382 0.20792 Mitsui Fudosan JPY 16,568 0.18

1 Mori Hills REIT Investment JPY 1,401 0.011 Mori Trust Sogo REIT JPY 1,068 0.011 Nippon Accommodations Fund JPY 1,500 0.021 Nippon Building Fund JPY 5,191 0.061 Nippon Prologis REIT JPY 2,522 0.033 Nomura Real Estate Master Fund JPY 3,953 0.04

106 NTT Urban Development JPY 897 0.012 Orix JREIT JPY 2,826 0.031 Premier Investment JPY 811 0.01

388 Sumitomo Realty & Development JPY 10,501 0.11178 Tokyo Tatemono JPY 2,040 0.02

3 United Urban Investment JPY 3,170 0.03

129,303 1.39Jersey

5 Randgold Resources GBP 420 0.00

420 0.00Jordan

8 Hikma Pharmaceuticals GBP 137 0.00

137 0.00Luxembourg

37 ArcelorMittal EUR 742 0.011 Eurofins Scientific EUR 349 0.00

94 Grand City Properties EUR 1,647 0.022 Millicom International Cellular – SDR – SEK 105 0.003 RTL Group EUR 182 0.00

24 SES EUR 501 0.0121 Tenaris EUR 291 0.00

3,817 0.04Mexico

2,471 Fibra Uno Administracion MXN 4,120 0.0517 Fresnillo GBP 278 0.00

4,398 0.05Netherlands

114 Aegon EUR 509 0.0115 Akzo Nobel EUR 1,137 0.0125 Altice – A – EUR 507 0.01

6 Altice – B – EUR 122 0.0021 ASML Holding EUR 2,396 0.03

7 Boskalis Westminster EUR 184 0.001 Core Laboratories USD 58 0.007 EXOR EUR 336 0.004 Gemalto EUR 196 0.00

14 Heineken EUR 1,154 0.016 Heineken Holding EUR 498 0.01

218 ING Groep EUR 3,295 0.0476 Koninklijke Ahold Delhaize EUR 1,272 0.01

9 Koninklijke DSM EUR 583 0.01167 Koninklijke KPN EUR 469 0.00

52 Koninklijke Philips EUR 1,626 0.023 Koninklijke Vopak EUR 136 0.00

16 NN Group EUR 504 0.0119 NXP Semiconductors USD 1,868 0.0211 QIAGEN EUR 316 0.00

5 Randstad Holding EUR 255 0.00249 Royal Dutch Shell – A – GBP 5,774 0.06211 Royal Dutch Shell – B – GBP 4,949 0.05






Currency Market

Value

% of

Net

Assets

SHARES EUR %Netherlands (continued)

31 Wereldhave EUR 1,316 0.0118 Wolters Kluwer EUR 663 0.01

30,123 0.32Norway

58 DNB NOK 861 0.0114 Gjensidige Forsikring NOK 212 0.0027 Marine Harvest NOK 403 0.0180 Norsk Hydro NOK 389 0.0038 Orkla NOK 336 0.00

0 Schibsted – A – NOK 3 0.001 Schibsted – B – NOK 11 0.00

67 Statoil NOK 969 0.0141 Telenor NOK 600 0.0110 Yara International NOK 327 0.00

4,111 0.04Philippines

8,548 SM Prime Holdings PHP 4,902 0.05

4,902 0.05Portugal

122 EDP - Energias de Portugal EUR 350 0.0029 Galp Energia EUR 385 0.0111 Jeronimo Martins EUR 181 0.00

916 0.01Romania

193 New Europe Property Investments ZAR 2,138 0.02

2,138 0.02Singapore

2,114 Ascendas Real Estate Investment Trust SGD 3,514 0.042,262 CapitaLand SGD 5,042 0.051,889 CapitaLand Commercial Trust SGD 1,997 0.022,377 CapitaLand Mall Trust SGD 2,989 0.03

425 City Developments SGD 2,902 0.032,367 Global Logistic Properties SGD 4,311 0.051,173 Mapletree Commercial Trust SGD 1,191 0.012,064 Suntec Real Estate Investment Trust SGD 2,458 0.03

24,404 0.26South Africa

2,049 Growthpoint Properties ZAR 3,357 0.04203 Hyprop Investments ZAR 1,586 0.02

44 Investec GBP 287 0.0026 Mediclinic International GBP 221 0.0024 Mondi GBP 544 0.01

4,499 Redefine Properties ZAR 3,167 0.03228 Resilient REIT ZAR 1,858 0.02

11,020 0.12Spain

41 Abertis Infraestructuras EUR 667 0.0116 ACS Actividades de Construccion y

Servicios EUR 532 0.0116 ACS Actividades de Construccion y

Servicios – Rights – EUR 11 0.004 Aena EUR 650 0.01

25 Amadeus IT Group EUR 1,292 0.01364 Banco Bilbao Vizcaya Argentaria EUR 2,646 0.03316 Banco de Sabadell EUR 563 0.01830 Banco Santander EUR 4,805 0.05

77 Bankia EUR 325 0.0031 Bankinter EUR 251 0.00

213 CaixaBank EUR 889 0.0129 Distribuidora Internacional de Alimentacion EUR 156 0.0011 Enagas EUR 266 0.0014 Endesa EUR 289 0.0031 Ferrovial EUR 607 0.0117 Gamesa Technologica EUR 317 0.0016 Gas Natural SDG EUR 337 0.0015 Grifols EUR 365 0.00

327 Iberdrola EUR 2,268 0.0361 Industria de Diseno Textil EUR 2,062 0.02

208 Inmobiliaria Colonial EUR 1,585 0.0234 Mapfre EUR 103 0.00

265 Merlin Properties Socimi EUR 2,930 0.0323 Red Electrica EUR 420 0.0170 Repsol EUR 944 0.01


64






Currency Market

Value

% of

Net

Assets

SHARES EUR %Spain (continued)

70 Repsol – Rights – EUR 28 0.00253 Telefonica EUR 2,289 0.03

27,597 0.30Sweden

21 Alfa Laval SEK 378 0.0059 Assa Abloy – B – SEK 1,143 0.0140 Atlas Copco – A – SEK 1,337 0.0223 Atlas Copco – B – SEK 700 0.01

1 Autoliv USD 134 0.0012 Boliden SEK 296 0.00

209 Castellum SEK 2,691 0.0315 Electrolux – B – SEK 439 0.0131 Essity – B – SEK 736 0.01

114 Fabege SEK 1,926 0.0274 Fastighets Balder – B – SEK 1,563 0.02

6 Getinge – B – SEK 107 0.0056 Hennes & Mauritz – B – SEK 1,228 0.0113 Hexagon – B – SEK 538 0.0187 Hufvudstaden – A – SEK 1,263 0.0120 Husqvarna – B – SEK 173 0.00

3 ICA Gruppen SEK 93 0.006 Industrivarden – C – SEK 121 0.00

25 Investor – B – SEK 1,048 0.0110 Kinnevik – B – SEK 274 0.00

3 L E Lundbergforetagenn – B – SEK 195 0.0011 Lundin Petroleum SEK 180 0.00

168 Nordea Bank SEK 1,872 0.0265 Sandvik SEK 901 0.0112 Securitas – B – SEK 173 0.0090 Skandinaviska Enskilda Banken – A – SEK 954 0.0122 Skanska – B – SEK 456 0.0122 SKF – B – SEK 397 0.0191 Svenska Handelsbanken – A – SEK 1,135 0.0147 Swedbank – A – SEK 997 0.0110 Swedish Match SEK 291 0.0024 Tele2 – B – SEK 221 0.00

182 Telefonaktiebolaget LM Ericsson – B – SEK 1,140 0.01162 Telia SEK 652 0.01

92 Volvo – B – SEK 1,375 0.02

27,127 0.29Switzerland

112 ABB CHF 2,431 0.0310 Adecco Group CHF 643 0.01

3 Baloise Holding CHF 370 0.000 Barry Callebaut CHF 75 0.000 Chocoladefabriken Lindt & Spruengli CHF 372 0.000 Chocoladefabriken Lindt & Spruengli – REG

– CHF 306 0.006 Chubb USD 776 0.01

29 Cie Financiere Richemont CHF 2,124 0.0213 Coca-Cola GBP 333 0.00

139 Credit Suisse Group CHF 1,765 0.022 Dufry CHF 227 0.001 EMS-Chemie Holding CHF 377 0.001 Garmin USD 52 0.002 Geberit CHF 879 0.010 Givaudan CHF 873 0.01

697 Glencore GBP 2,281 0.0212 Julius Baer Group CHF 565 0.01

2 Kuehne & Nagel International CHF 366 0.0024 LafargeHolcim CHF 1,201 0.01

4 Lonza Group CHF 708 0.01174 Nestle CHF 13,291 0.14126 Novartis CHF 9,178 0.10

2 Pargesa Holding CHF 165 0.001 Partners Group Holding CHF 560 0.01

31 PSP Swiss Property CHF 2,525 0.0340 Roche Holding CHF 8,836 0.10

3 Schindler Holding CHF 469 0.011 Schindler Holding – REG – CHF 236 0.000 SGS CHF 651 0.010 Sika CHF 615 0.013 Sonova Holding CHF 429 0.01

42 STMicroelectronics EUR 531 0.011 Straumann Holding CHF 338 0.002 Swatch Group CHF 612 0.012 Swatch Group – REG – CHF 133 0.00






Currency Market

Value

% of

Net

Assets

SHARES EUR %Switzerland (continued)

2 Swiss Life Holding CHF 564 0.0162 Swiss Prime Site CHF 4,953 0.0519 Swiss Re CHF 1,542 0.02

2 Swisscom CHF 650 0.014 TE Connectivity USD 303 0.00

206 UBS Group CHF 3,060 0.032 Vifor Pharma CHF 187 0.002 Weatherford International USD 6 0.00

15 Wolseley GBP 787 0.018 Zurich Insurance Group CHF 2,166 0.02

69,511 0.75United Kingdom

63 3i Group GBP 646 0.0153 Aberdeen Asset Management GBP 181 0.0012 Admiral Group GBP 276 0.0069 Anglo American GBP 803 0.01

3 Aon USD 395 0.0032 Ashtead Group GBP 583 0.0117 Associated British Foods GBP 582 0.0171 AstraZeneca GBP 4,163 0.0557 Auto Trader Group GBP 247 0.00

243 Aviva GBP 1,453 0.0218 Babcock International Group GBP 180 0.00

954 Barclays GBP 2,204 0.0266 Barratt Developments GBP 422 0.01

8 Berkeley Group Holdings GBP 276 0.001,100 BP GBP 5,549 0.06

105 British American Tobacco GBP 6,252 0.07954 British Land GBP 6,578 0.07502 BT Group GBP 1,685 0.02

22 Bunzl GBP 565 0.0126 Burberry Group GBP 492 0.0148 Capita GBP 377 0.00

423 Capital & Counties Properties GBP 1,411 0.02309 Centrica GBP 704 0.01

66 CNH Industrial EUR 654 0.01172 Cobham GBP 253 0.00

15 Coca-Cola European Partners EUR 517 0.0184 Compass Group GBP 1,556 0.0283 ConvaTec Group GBP 302 0.00

9 Croda International GBP 385 0.003 Delphi Automotive USD 250 0.00

98 Derwent London GBP 2,946 0.03143 Diageo GBP 3,682 0.04

79 Direct Line Insurance Group GBP 318 0.0063 Dixons Carphone GBP 204 0.0012 easyJet GBP 178 0.0056 Experian GBP 1,003 0.0151 Fiat Chrysler Automobiles EUR 471 0.0192 G4S GBP 342 0.00

110 GKN GBP 409 0.00272 GlaxoSmithKline GBP 5,061 0.05272 Great Portland Estates GBP 1,852 0.02663 Hammerson GBP 4,338 0.05

12 Hargreaves Lansdown GBP 173 0.001,117 HSBC Holdings GBP 9,057 0.10

6 IHS Markit USD 248 0.0020 IMI GBP 265 0.0055 Imperial Brands GBP 2,142 0.0231 Inmarsat GBP 270 0.00

9 InterContinental Hotels Group GBP 417 0.0145 International Consolidated Airlines Group EUR 314 0.00

8 Intertek Group GBP 397 0.00637 Intu Properties GBP 1,953 0.02243 ITV GBP 501 0.01

94 J Sainsbury GBP 269 0.0011 Johnson Matthey GBP 367 0.0065 Kennedy Wilson Europe Real Estate GBP 825 0.01

106 Kingfisher GBP 364 0.00684 Land Securities Group GBP 7,887 0.09314 Legal & General Group GBP 925 0.01

5 Liberty Global – A – USD 144 0.008 Liberty Global – C – USD 206 0.00

4,020 Lloyds Banking Group GBP 3,029 0.0318 London Stock Exchange Group GBP 736 0.0169 Marks & Spencer Group GBP 261 0.0055 Meggitt GBP 299 0.00


65






Currency Market

Value

% of

Net

Assets


48 Merlin Entertainments GBP 264 0.002 Michael Kors Holdings USD 72 0.00

193 National Grid GBP 2,096 0.020 NEX Group GBP 0 0.009 Next GBP 412 0.00

292 Old Mutual GBP 644 0.0137 Pearson GBP 294 0.00

2 Pentair USD 87 0.0018 Persimmon GBP 467 0.0115 Petrofac GBP 77 0.0011 Provident Financial GBP 297 0.00

141 Prudential GBP 2,826 0.0337 Reckitt Benckiser Group GBP 3,317 0.0457 RELX (traded in Netherlands) EUR 1,031 0.0164 RELX (traded in United Kingdom) GBP 1,211 0.0170 Rio Tinto GBP 2,570 0.0396 Rolls-Royce Holdings GBP 973 0.01

210 Royal Bank of Scotland Group GBP 592 0.0153 Royal Mail GBP 256 0.0045 RSA Insurance Group GBP 314 0.0064 Sage Group GBP 502 0.01

8 Schroders GBP 274 0.00822 Segro GBP 4,580 0.05

16 Severn Trent GBP 389 0.00148 Shaftesbury GBP 1,636 0.02

57 Sky GBP 645 0.0146 Smith & Nephew GBP 691 0.0126 Smiths Group GBP 465 0.0160 SSE GBP 993 0.0130 St James’s Place GBP 405 0.00

195 Standard Chartered GBP 1,724 0.02128 Standard Life GBP 581 0.01

30 Tate & Lyle GBP 226 0.00211 Taylor Wimpey GBP 424 0.01

8 TechnipFMC USD 188 0.00426 Tesco GBP 819 0.01

0 TP ICAP GBP 0 0.0015 Travis Perkins GBP 246 0.00

976 Tritax Big Box REIT GBP 1,626 0.0272 Unilever GBP 3,417 0.0493 Unilever – CVA – EUR 4,474 0.05

192 UNITE Group GBP 1,421 0.0244 United Utilities Group GBP 435 0.01

1,497 Vodafone Group GBP 3,714 0.0410 Weir Group GBP 205 0.0012 Whitbread GBP 541 0.01

1 Willis Towers Watson USD 187 0.00143 Wm Morrison Supermarkets GBP 394 0.00

91 Worldpay Group GBP 327 0.0076 WPP GBP 1,396 0.02


8 3M USD 1,521 0.0223 Abbott Laboratories USD 974 0.0123 AbbVie USD 1,439 0.0273 Acadia Realty Trust USD 1,770 0.02

9 Activision Blizzard USD 479 0.011 Acuity Brands USD 109 0.007 Adobe Systems USD 850 0.011 Advance Auto Parts USD 120 0.00

14 Advanced Micro Devices USD 157 0.0012 AES USD 115 0.00

5 Aetna USD 698 0.011 Affiliated Managers Group USD 126 0.005 Aflac USD 328 0.001 AGCO USD 48 0.005 Agilent Technologies USD 268 0.006 AGNC Investment USD 112 0.00

28 Agree Realty USD 1,116 0.013 Air Products & Chemicals USD 387 0.013 Akamai Technologies USD 137 0.002 Albemarle USD 186 0.00

78 Alexandria Real Estate Equities USD 8,208 0.094 Alexion Pharmaceuticals USD 389 0.011 Align Technology USD 157 0.000 Alleghany USD 148 0.004 Allergan USD 942 0.01






Currency Market

Value

% of

Net

Assets

SHARES EUR %United States (continued)

0 Alliance Data Systems USD 102 0.004 Alliant Energy USD 143 0.006 Allstate USD 428 0.015 Ally Financial USD 90 0.004 Alphabet – A – USD 3,334 0.044 Alphabet – C – USD 3,426 0.04

27 Altria Group USD 1,770 0.025 Amazon.com USD 4,641 0.050 AMERCO USD 33 0.003 Ameren USD 155 0.003 American Airlines Group USD 132 0.00

30 American Assets Trust USD 1,029 0.01115 American Campus Communities USD 4,773 0.05

7 American Electric Power USD 432 0.0110 American Express USD 767 0.01

1 American Financial Group USD 102 0.00206 American Homes 4 Rent – A – USD 4,069 0.05

13 American International Group USD 738 0.015 American Tower USD 638 0.012 American Water Works USD 164 0.002 Ameriprise Financial USD 230 0.002 AmerisourceBergen USD 134 0.003 AMETEK USD 170 0.00

10 Amgen USD 1,476 0.025 Amphenol – A – USD 317 0.008 Anadarko Petroleum USD 323 0.005 Analog Devices USD 352 0.019 Annaly Capital Management USD 97 0.002 Ansys USD 168 0.002 Antero Resources USD 30 0.004 Anthem USD 598 0.011 AO Smith USD 41 0.006 Apache USD 238 0.00

137 Apartment Investment & Management – A – USD 5,178 0.0671 Apple USD 8,978 0.10

189 Apple Hospitality REIT USD 3,101 0.0314 Applied Materials USD 497 0.01

4 Aramark USD 148 0.008 Archer-Daniels-Midland USD 276 0.006 Arconic USD 127 0.001 Arista Networks USD 96 0.000 Arrow Electronics USD 26 0.003 Arthur J Gallagher & Co USD 159 0.00

73 Ashford Hospitality Trust USD 390 0.010 Assurant USD 38 0.00

86 AT&T USD 2,840 0.032 Atmos Energy USD 120 0.002 Autodesk USD 218 0.006 Automatic Data Processing USD 497 0.011 AutoNation USD 32 0.000 AutoZone USD 250 0.00

120 AvalonBay Communities USD 20,301 0.221 Avery Dennison USD 46 0.000 Avnet USD 10 0.001 Axalta Coating Systems USD 23 0.004 Baker Hughes USD 212 0.006 Ball USD 219 0.00

138 Bank of America USD 2,925 0.0313 Bank of New York Mellon USD 593 0.01

6 Baxter International USD 304 0.0011 BB&T USD 440 0.01

3 Becton Dickinson & Co USD 536 0.013 Bed Bath & Beyond USD 72 0.00

17 Berkshire Hathaway – B – USD 2,519 0.035 Best Buy USD 256 0.003 Biogen USD 700 0.013 BioMarin Pharmaceutical USD 232 0.002 BlackRock USD 611 0.018 Boeing USD 1,400 0.022 BorgWarner USD 66 0.00

132 Boston Properties USD 14,214 0.1519 Boston Scientific USD 460 0.01

148 Brandywine Realty Trust USD 2,279 0.0323 Bristol-Myers Squibb USD 1,134 0.01

250 Brixmor Property Group USD 3,926 0.046 Broadcom USD 1,160 0.012 Broadridge Financial Solutions USD 129 0.00

194 Brookfield Property Partners CAD 4,014 0.04


66






Currency Market

Value

% of

Net

Assets


4 Brown-Forman – B – USD 168 0.003 Bunge USD 164 0.006 CA USD 169 0.007 Cabot Oil & Gas USD 162 0.002 Cadence Design Systems USD 70 0.00

78 Camden Property Trust USD 5,819 0.064 Campbell Soup USD 165 0.007 Capital One Financial USD 475 0.014 Cardinal Health USD 296 0.00

75 Care Capital Properties USD 1,747 0.0260 CareTrust REIT USD 972 0.01

3 CarMax USD 192 0.0010 Carnival (traded in United Kingdom) GBP 596 0.01

5 Carnival (traded in United States) USD 264 0.008 Caterpillar USD 772 0.01

167 CBL & Associates Properties USD 1,238 0.012 CBOE Holdings USD 128 0.005 CBRE Group – A – USD 173 0.006 CBS – B – USD 319 0.002 CDK Global USD 123 0.001 CDW USD 72 0.002 Celanese – A – USD 205 0.00

11 Celgene USD 1,231 0.013 Centene USD 191 0.007 CenterPoint Energy USD 176 0.006 CenturyLink USD 115 0.003 Cerner USD 184 0.002 CF Industries Holdings USD 43 0.001 CH Robinson Worldwide USD 86 0.00

16 Charles Schwab USD 617 0.013 Charter Communications – A – USD 871 0.01

35 Chatham Lodging Trust USD 609 0.012 Cheniere Energy USD 75 0.00

50 Chesapeake Lodging Trust USD 1,064 0.0126 Chevron USD 2,368 0.03

0 Chipotle Mexican Grill USD 83 0.005 Church & Dwight USD 233 0.003 Cigna USD 463 0.012 Cimarex Energy USD 124 0.002 Cincinnati Financial USD 158 0.002 Cintas USD 169 0.00

66 Cisco Systems USD 1,822 0.022 CIT Group USD 68 0.00

38 Citigroup USD 2,200 0.035 Citizens Financial Group USD 170 0.003 Citrix Systems USD 194 0.001 Clorox USD 166 0.005 CME Group USD 581 0.015 CMS Energy USD 203 0.004 Coach USD 185 0.00

57 Coca-Cola USD 2,242 0.037 Cognizant Technology Solutions – A – USD 430 0.01

11 Colgate-Palmolive USD 741 0.013 Colony NorthStar – A – USD 39 0.00

91 Colony Starwood Homes USD 2,746 0.03112 Columbia Property Trust USD 2,194 0.02

65 Comcast – A – USD 2,206 0.032 Comerica USD 101 0.003 CommScope Holding USD 102 0.005 Conagra Brands USD 150 0.002 Concho Resources USD 248 0.00

18 ConocoPhillips USD 696 0.015 Consolidated Edison USD 336 0.002 Constellation Brands – A – USD 408 0.010 Cooper Cos USD 88 0.00

12 Corning USD 304 0.0080 Corporate Office Properties Trust USD 2,463 0.03

0 CoStar Group USD 54 0.006 Costco Wholesale USD 821 0.019 Coty – A – USD 143 0.00

384 Cousins Properties USD 2,961 0.031 CR Bard USD 225 0.004 Crown Castle International USD 390 0.011 Crown Holdings USD 63 0.00

13 CSX USD 635 0.01147 CubeSmart USD 3,089 0.03

2 Cummins USD 263 0.0013 CVS Health USD 932 0.01






Currency Market

Value

% of

Net

Assets


77 CyrusOne USD 3,745 0.049 Danaher USD 701 0.012 Darden Restaurants USD 169 0.003 DaVita USD 168 0.00

84 DCT Industrial Trust USD 3,958 0.04289 DDR USD 2,296 0.03

4 Deere & Co USD 430 0.014 Dell Technologies – V – USD 214 0.003 Delta Air Lines USD 163 0.002 Dentsply Sirona USD 128 0.006 Devon Energy USD 171 0.000 DexCom USD 27 0.001 Diamondback Energy USD 46 0.000 Dick’s Sporting Goods USD 0 0.00

137 Digital Realty Trust USD 13,608 0.156 Discover Financial Services USD 313 0.002 Discovery Communications – A – USD 36 0.001 Discovery Communications – C – USD 18 0.003 DISH Network – A – USD 145 0.003 Dollar General USD 193 0.004 Dollar Tree USD 234 0.008 Dominion Energy USD 525 0.010 Domino’s Pizza USD 84 0.00

122 Douglas Emmett USD 4,085 0.052 Dover USD 172 0.00

16 Dow Chemical USD 864 0.016 DR Horton USD 171 0.003 Dr Pepper Snapple Group USD 233 0.002 DTE Energy USD 192 0.009 Duke Energy USD 664 0.01

322 Duke Realty USD 7,890 0.0970 DuPont Fabros Technology USD 3,761 0.04

4 DXC Technology USD 274 0.002 E*TRADE Financial USD 74 0.002 East West Bancorp USD 117 0.00

21 Easterly Government Properties USD 390 0.0126 EastGroup Properties USD 1,932 0.02

3 Eastman Chemical USD 196 0.007 Eaton USD 471 0.010 Eaton Vance USD 19 0.00

14 eBay USD 424 0.013 Ecolab USD 390 0.014 Edison International USD 268 0.00

68 Education Realty Trust USD 2,325 0.032 Edwards Lifesciences USD 251 0.00

12 EI du Pont de Nemours & Co USD 848 0.014 Electronic Arts USD 345 0.01

14 Eli Lilly & Co USD 1,001 0.0110 Emerson Electric USD 526 0.01

100 Empire State Realty Trust – A – USD 1,813 0.023 Entergy USD 191 0.001 Envision Healthcare USD 57 0.007 EOG Resources USD 581 0.01

62 EPR Properties USD 3,913 0.041 EQT USD 69 0.001 Equifax USD 157 0.001 Equinix USD 396 0.01

107 Equity Commonwealth USD 2,958 0.0369 Equity LifeStyle Properties USD 5,198 0.06

318 Equity Residential USD 18,370 0.2058 Essex Property Trust USD 13,079 0.14

3 Estee Lauders Cos – A – USD 288 0.004 Eversource Energy USD 194 0.00

13 Exelon USD 421 0.012 Expedia USD 196 0.003 Expeditors International of Washington USD 143 0.008 Express Scripts Holding USD 438 0.01

156 Extended Stay America USD 2,653 0.03109 Extra Space Storage USD 7,429 0.08

57 Exxon Mobil USD 4,050 0.041 F5 Networks USD 134 0.00

33 Facebook – A – USD 4,304 0.053 Fastenal USD 130 0.00

63 Federal Realty Investment Trust USD 6,995 0.083 FedEx USD 618 0.01

122 FelCor Lodging Trust USD 770 0.015 Fidelity National Information Services USD 370 0.01

12 Fifth Third Bancorp USD 282 0.00


67






Currency Market

Value

% of

Net

Assets


108 First Industrial Realty Trust USD 2,700 0.033 First Republic Bank USD 230 0.005 FirstEnergy USD 130 0.003 Fiserv USD 269 0.002 FleetCor Technologies USD 197 0.00

10 Flex USD 141 0.001 FLIR Systems USD 42 0.001 Flowserve USD 21 0.002 Fluor USD 89 0.002 FMC USD 150 0.004 FNF Group USD 174 0.002 Foot Locker USD 105 0.00

58 Ford Motor USD 567 0.01178 Forest City Realty Trust – A – USD 3,772 0.04

3 Fortinet USD 86 0.006 Fortive USD 308 0.003 Fortune Brands Home & Security USD 157 0.004 Franklin Resources USD 153 0.00

90 Franklin Street Properties USD 877 0.0124 Freeport-McMoRan USD 250 0.00

0 Gap USD 4 0.002 Gartner USD 163 0.00

122 General Electric USD 2,888 0.039 General Mills USD 418 0.01

21 General Motors USD 636 0.013 Genuine Parts USD 218 0.00

558 GGP USD 11,533 0.1318 Gilead Sciences USD 1,122 0.0152 Global Net Lease USD 1,014 0.01

3 Global Payments USD 218 0.005 Goldman Sachs Group USD 1,019 0.013 Goodyear Tire & Rubber USD 80 0.00

61 Government Properties Income Trust USD 981 0.01132 Gramercy Property Trust USD 3,432 0.04

4 H&R Block USD 108 0.0013 Halliburton USD 482 0.01

6 Hanesbrands USD 114 0.002 Harley-Davidson USD 80 0.001 Harris USD 112 0.005 Hartford Financial Services Group USD 219 0.001 Hasbro USD 130 0.004 HCA Healthcare USD 275 0.00

420 HCP USD 11,783 0.133 HD Supply Holdings USD 86 0.00

93 Healthcare Realty Trust USD 2,782 0.03161 Healthcare Trust of America – A – USD 4,382 0.05

1 Helmerich & Payne USD 29 0.001 Henry Schein USD 205 0.00

24 Hersha Hospitality Trust USD 386 0.012 Hershey USD 157 0.005 Hess USD 196 0.00

21 Hewlett Packard Enterprise USD 302 0.0090 Highwoods Properties USD 3,997 0.04

3 Hilton Worldwide Holdings USD 176 0.001 HollyFrontier USD 17 0.004 Hologic USD 179 0.00

17 Home Depot USD 2,222 0.0310 Honeywell International USD 1,178 0.01

2 Hormel Foods USD 74 0.009 Host Hotels & Resorts USD 146 0.00

23 HP USD 356 0.01126 Hudson Pacific Properties USD 3,779 0.04

2 Humana USD 407 0.0111 Huntington Bancshares USD 130 0.00

0 Huntington Ingalls Industries USD 55 0.001 IDEX USD 119 0.002 IDEXX Laboratories USD 227 0.004 Illinois Tool Works USD 548 0.012 Illumina USD 354 0.013 Incyte USD 312 0.00

38 Independence Realty Trust USD 327 0.004 Ingersoll-Rand USD 305 0.001 Ingredion USD 135 0.00

64 Intel USD 1,904 0.029 Intercontinental Exchange USD 501 0.01

12 International Business Machines USD 1,609 0.021 International Flavors & Fragrances USD 169 0.005 International Paper USD 227 0.00






Currency Market

Value

% of

Net

Assets


7 Interpublic Group of Cos USD 155 0.003 Intuit USD 344 0.011 Intuitive Surgical USD 414 0.014 Invesco USD 119 0.00

74 Investors Real Estate Trust USD 403 0.014 Iron Mountain USD 135 0.001 Jack Henry & Associates USD 112 0.001 Jacobs Engineering Group USD 28 0.001 JB Hunt Transport Services USD 59 0.001 JM Smucker USD 135 0.00

37 Johnson & Johnson USD 4,345 0.0515 Johnson Controls International USD 565 0.01

0 Jones Lang LaSalle USD 42 0.0049 JPMorgan Chase & Co USD 3,951 0.04

4 Juniper Networks USD 87 0.002 Kansas City Southern USD 157 0.003 Kellogg USD 172 0.00

11 KeyCorp USD 189 0.0083 Kilroy Realty USD 5,490 0.06

4 Kimberly-Clark USD 498 0.01373 Kimco Realty USD 6,009 0.07

25 Kinder Morgan USD 418 0.0169 Kite Realty Group Trust USD 1,139 0.01

3 KLA-Tencor USD 224 0.003 Kohl’s USD 97 0.008 Kraft Heinz USD 588 0.01

11 Kroger USD 225 0.004 L Brands USD 206 0.001 L3 Technologies USD 110 0.00

67 La Quinta Holdings USD 872 0.012 Laboratory of America Holdings USD 248 0.002 Lam Research USD 249 0.005 Las Vegas Sands USD 258 0.001 Lear USD 165 0.002 Leggett & Platt USD 77 0.002 Leidos Holdings USD 102 0.002 Lennar – A – USD 98 0.001 Lennox International USD 98 0.003 Leucadia National USD 60 0.003 Level 3 Communications USD 181 0.00

184 Lexington Realty Trust USD 1,602 0.022 Liberty Broadband – C – USD 148 0.008 Liberty Interactive QVC Group – A – USD 165 0.001 Liberty Media Corp-Liberty SiriusXM – A – USD 41 0.003 Liberty Media Corp-Liberty SiriusXM – C – USD 116 0.00

134 Liberty Property Trust USD 4,791 0.0543 Life Storage USD 2,784 0.03

3 Lincoln National USD 157 0.003 LKQ USD 73 0.004 Lockheed Martin USD 872 0.013 Loews USD 132 0.00

11 Lowe’s Cos USD 774 0.0136 LTC Properties USD 1,628 0.02

4 LyondellBasell Industries – A – USD 299 0.002 M&T Bank USD 304 0.00

101 Macerich USD 5,120 0.0670 Mack-Cali Realty USD 1,666 0.02

2 Macquarie Infrastructure USD 136 0.001 Macy’s USD 30 0.002 Mallinckrodt USD 66 0.002 ManpowerGroup USD 152 0.007 Marathon Oil USD 73 0.007 Marathon Petroleum USD 302 0.000 Markel USD 137 0.005 Marriott International – A – USD 418 0.018 Marsh & McLennan Cos USD 554 0.011 Martin Marietta Materials USD 211 0.005 Masco USD 174 0.00

14 Mastercard – A – USD 1,445 0.025 Mattel USD 90 0.003 Maxim Integrated Products USD 123 0.001 McCormick & Co USD 82 0.00

11 McDonald’s USD 1,468 0.023 McKesson USD 395 0.01

283 Medical Properties Trust USD 3,199 0.040 MEDNAX USD 19 0.00

37 Merck & Co USD 2,096 0.0212 MetLife USD 571 0.01


68






Currency Market

Value

% of

Net

Assets


0 Mettler-Toledo International USD 216 0.0042 MGM Growth Properties – A – USD 1,084 0.01

8 MGM Resorts International USD 222 0.002 Microchip Technology USD 161 0.00

16 Micron Technology USD 409 0.0199 Microsoft USD 5,996 0.0798 Mid-America Apartment Communities USD 9,037 0.10

1 Middleby USD 157 0.001 Mohawk Industries USD 156 0.003 Molson Coors Brewing – B – USD 226 0.00

20 Mondelez International – A – USD 752 0.01133 Monogram Residential Trust REIT USD 1,136 0.01

5 Monsanto USD 568 0.016 Monster Beverage USD 274 0.002 Moody’s USD 236 0.00

19 Morgan Stanley USD 750 0.016 Mosaic USD 119 0.002 Motorola Solutions USD 181 0.002 MSCI USD 188 0.001 Murphy Oil USD 23 0.005 Mylan USD 155 0.001 Nasdaq USD 84 0.00

36 National Health Investors USD 2,469 0.035 National Oilwell Varco USD 158 0.00

133 National Retail Properties USD 4,575 0.0537 National Storage Affiliates Trust USD 744 0.01

5 Navient USD 70 0.005 NetApp USD 182 0.006 Netflix USD 783 0.013 New York Community Bancorp USD 32 0.00

139 New York REIT USD 1,054 0.016 Newell Brands USD 268 0.004 Newfield Exploration USD 89 0.006 Newmont Mining USD 171 0.007 News – A – USD 83 0.006 NextEra Energy USD 749 0.013 Nielsen Holdings USD 116 0.00

20 NIKE – B – USD 1,014 0.015 NiSource USD 114 0.008 Noble Energy USD 191 0.000 Nordstrom USD 5 0.004 Norfolk Southern USD 449 0.013 Northern Trust USD 234 0.003 Northrop Grumman USD 586 0.01

56 NorthStar Realty Europe USD 619 0.011 Norwegian Cruise Line Holdings USD 51 0.003 Nuance Communications USD 38 0.005 Nucor USD 270 0.007 NVIDIA USD 947 0.010 NVR USD 178 0.00

12 Occidental Petroleum USD 606 0.013 OGE Energy USD 78 0.00

175 Omega Healthcare Investors USD 5,060 0.062 Omnicom Group USD 180 0.002 ONEOK USD 82 0.00

41 Oracle USD 1,786 0.022 O’Reilly Automotive USD 287 0.005 PACCAR USD 276 0.001 Packaging of America USD 76 0.002 Palo Alto Networks USD 188 0.00

178 Paramount Group USD 2,498 0.032 Parker-Hannifin USD 255 0.00

29 Parkway USD 579 0.014 Parsley Energy – A – USD 104 0.001 Pattersons Cos USD 39 0.005 Paychex USD 258 0.00

15 PayPal Holdings USD 699 0.0158 Pennsylvania Real Estate Investment Trust USD 577 0.01

3 People’s United Financial USD 47 0.0020 PepsiCo USD 2,020 0.0281 Pfizer USD 2,394 0.03

7 PG&E USD 425 0.0121 Philip Morris International USD 2,127 0.02

7 Phillips 66 USD 497 0.01127 Physicians Realty Trust USD 2,236 0.03135 Piedmont Office Realty Trust – A – USD 2,502 0.03

2 Pinnacle West Capital USD 149 0.003 Pioneer Natural Resources USD 358 0.01






Currency Market

Value

% of

Net

Assets


1 Plains GP Holdings – A – USD 31 0.007 PNC Financial Services Group USD 758 0.010 Polaris Industries USD 29 0.003 PPG Industries USD 315 0.00

11 PPL USD 365 0.014 Praxair USD 480 0.011 Priceline Group USD 1,123 0.015 Principal Financial Group USD 289 0.00

35 Procter & Gamble USD 2,677 0.038 Progressive USD 302 0.00

462 Prologis USD 23,757 0.267 Prudential Financial USD 625 0.01

16 PS Business Parks USD 1,829 0.026 Public Service Enterprise Group USD 224 0.00

133 Public Storage USD 24,253 0.261 PulteGroup USD 29 0.001 PVH USD 91 0.002 Qorvo USD 126 0.00

42 QTS Realty Trust – A – USD 1,944 0.0221 QUALCOMM USD 1,003 0.0188 Quality Care Properties USD 1,407 0.02

2 Quest Diagnostics USD 163 0.002 Quintiles IMS Holdings USD 126 0.001 Ralph Lauren USD 65 0.00

74 Ramco-Gershenson Properties Trust USD 835 0.013 Range Resources USD 67 0.001 Raymond James Financial USD 96 0.004 Raytheon USD 513 0.01

237 Realty Income USD 11,453 0.122 Red Hat USD 151 0.00

136 Regency Centers USD 7,469 0.081 Regeneron Pharmaceuticals USD 406 0.01

23 Regions Financial USD 291 0.000 Reinsurance Group of America USD 47 0.003 Republic Services USD 140 0.001 ResMed USD 91 0.00

95 Retail Opportunity Investments USD 1,602 0.02222 Retail Properties of America – A – USD 2,381 0.03

59 Rexford Industrial Realty USD 1,423 0.0212 Reynolds American USD 657 0.01

111 RLJ Lodging Trust USD 1,942 0.023 Robert Half International USD 124 0.002 Rockwell Automation USD 249 0.003 Rockwell Collins USD 280 0.002 Roper Technologies USD 337 0.006 Ross Stores USD 325 0.002 Royal Caribbean Cruises USD 177 0.004 S&P Global USD 479 0.01

60 Sabra Health Care REIT USD 1,258 0.010 Sabre USD 4 0.008 Salesforce.com USD 644 0.011 SBA Communications USD 155 0.002 SCANA USD 143 0.00

18 Schlumberger USD 1,065 0.011 Scripps Networks Interactive – A – USD 39 0.005 Seagate Technology USD 182 0.004 Sealed Air USD 139 0.000 Seattle Genetics USD 18 0.001 SEI Investments USD 35 0.00

51 Select Income REIT USD 1,084 0.013 Sempra Energy USD 326 0.00

194 Senior Housing Properties Trust USD 3,483 0.041 Sensata Technologies Holding USD 33 0.00

23 Seritage Growth Properties – A – USD 832 0.012 ServiceNow USD 225 0.001 Sherwin-Williams USD 308 0.00

49 Shire GBP 2,373 0.030 Signature Bank USD 58 0.00

269 Simon Property Group USD 38,161 0.4136 Sirius XM Holdings USD 170 0.00

2 Skyworks Solutions USD 163 0.0089 SL Green Realty USD 8,269 0.09

1 Snap-on USD 182 0.0013 Southern USD 531 0.01

1 Southwest Airlines USD 59 0.00432 Spirit Realty Capital USD 2,810 0.03

1 Splunk USD 50 0.0016 Sprint USD 115 0.00


69






Currency Market

Value

% of

Net

Assets


3 SS&C Technologies Holdings USD 92 0.0072 STAG Industrial USD 1,741 0.02

3 Stanley Black & Decker USD 332 0.002 Staples USD 14 0.00

21 Starbucks USD 1,050 0.015 State Street USD 410 0.014 Steel Dynamics USD 120 0.001 Stericycle USD 36 0.00

144 Store Capital USD 2,826 0.035 Stryker USD 561 0.01

102 Summit Hotel Properties USD 1,670 0.0264 Sun Communities USD 4,928 0.05

6 SunTrust Banks USD 299 0.001 SVB Financial Group USD 127 0.007 Symantec USD 162 0.00

12 Synchrony Financial USD 316 0.002 Synopsys USD 97 0.006 Sysco USD 267 0.003 T Rowe Price Group USD 195 0.00

88 Tanger Factory Outlet Centers USD 2,008 0.024 Targa Resources USD 169 0.008 Target USD 363 0.01

43 Taubman Centers USD 2,225 0.032 TD Ameritrade Holding USD 82 0.000 Teleflex USD 60 0.00

41 Terreno Realty USD 1,197 0.012 Tesla USD 515 0.012 Tesoro USD 157 0.00

14 Texas Instruments USD 945 0.015 Thermo Fisher Scientific USD 791 0.01

58 Tier REIT USD 943 0.012 Tiffany & Co USD 186 0.00

11 Time Warner USD 938 0.018 TJX Cos USD 524 0.013 T-Mobile USD 179 0.001 Toll Brothers USD 20 0.001 Torchmark USD 60 0.003 Total System Services USD 151 0.002 Tractor Supply USD 114 0.001 TransDigm Group USD 128 0.004 Travelers Cos USD 486 0.014 Trimble Navigation USD 128 0.001 TripAdvisor USD 47 0.00

13 Twenty-First Century Fox – A – USD 328 0.008 Twenty-First Century Fox – B – USD 192 0.00

10 Twitter USD 158 0.003 Tyson Foods – A – USD 165 0.00

230 UDR USD 7,863 0.092 UGI USD 86 0.001 Ulta Salon Cosmetics & Fragrance USD 167 0.003 Under Armour – A – USD 49 0.001 Under Armour – C – USD 20 0.00

11 Union Pacific USD 1,007 0.010 United Continental Holdings USD 19 0.00

10 United Parcel Service – B – USD 989 0.012 United Rentals USD 192 0.00

11 United Technologies USD 1,154 0.010 United Therapeutics USD 24 0.00

13 UnitedHealth Group USD 2,172 0.022 Universal Health Services – B – USD 172 0.004 Unum Group USD 174 0.00

95 Urban Edge Properties USD 1,975 0.0224 US Bancorp USD 1,070 0.01

1 Vail Resorts USD 112 0.006 Valero Energy USD 381 0.013 Vantiv – A – USD 155 0.002 Varian Medical Systems USD 154 0.001 VCA USD 104 0.002 Veeva Systems – A – USD 90 0.00

313 Ventas USD 19,082 0.21846 VEREIT USD 6,036 0.07

2 VeriSign USD 137 0.003 Verisk Analytics USD 230 0.00

56 Verizon Communications USD 2,179 0.023 Vertex Pharmaceuticals USD 335 0.004 VF USD 213 0.004 Viacom – B – USD 123 0.00

25 Visa – A – USD 2,068 0.02






Currency Market

Value

% of

Net

Assets


0 VMware – A – USD 26 0.00152 Vornado Realty Trust USD 12,507 0.14

2 Voya Financial USD 54 0.001 Vulcan Materials USD 154 0.000 WABCO Holdings USD 14 0.001 Wabtec USD 110 0.00

13 Walgreens Boots Alliance USD 926 0.0121 Wal-Mart Stores USD 1,374 0.0221 Walt Disney USD 1,954 0.02

146 Washington Prime Group USD 1,070 0.0162 Washington Real Estate Investment Trust USD 1,743 0.02

7 Waste Management USD 432 0.011 Waters USD 207 0.003 WEC Energy Group USD 185 0.00

97 Weingarten Realty Investors USD 2,557 0.0365 Wells Fargo & Co USD 3,181 0.04

324 Welltower USD 21,241 0.233 Westar Energy USD 118 0.004 Western Digital USD 335 0.009 Western Union USD 147 0.005 WestRock USD 226 0.009 Weyerhaeuser USD 268 0.001 Whirlpool USD 200 0.006 Whole Foods Market USD 212 0.00

13 Williams Cos USD 335 0.002 Workday – A – USD 180 0.00

88 WP Carey USD 5,080 0.062 WR Berkley USD 135 0.000 WW Grainger USD 69 0.002 Wyndham Worldwide USD 173 0.001 Wynn Resorts USD 172 0.006 Xcel Energy USD 247 0.004 Xerox USD 97 0.005 Xilinx USD 256 0.003 Xylem USD 156 0.004 Yum! Brands USD 265 0.004 Zayo Group Holdings USD 98 0.000 Zillow Group – C – USD 12 0.003 Zimmer Biomet Holdings USD 347 0.013 Zions Bancorporation USD 123 0.007 Zoetis USD 407 0.01

811,237 8.73

OPEN ENDED FUNDSFrance

6,730 Amundi ETF Government Bond EuroMTSBroad Investment Grade 10-15 ETF – C – EUR 1,813,937 19.52

4,400 Lyxor Commodities ThomsonReuters/CoreCommodity CRB TR UCITSETF – C – EUR 61,556 0.66

8,800 Lyxor UCITS ETF EuroMTS 10-15YInvestment Grade – EUR EUR 1,813,768 19.51

8,560 Lyxor UCITS ETF EuroMTS 15+YInvestment Grade EUR 1,785,102 19.20

5,474,363 58.89Ireland

19,920 BlackRock Euro Investment Grade CorporateBond Index Fund EUR 254,996 2.74

1,480 iShares EUR Govt Bond 15-30yr UCITSETF EUR Dist EUR 331,194 3.56

2,285 iShares JP Morgan USD EM Bond EURHedged UCITS ETF EUR 231,745 2.49

1,620 iShares USD High Yield Bond UCITS ETF EUR 148,975 1.601,200 Source Physical Gold P-ETC USD 127,786 1.38

685 Vanguard Emerging Markets Stock IndexFund EUR 89,643 0.96

1,240 Vanguard Investment Series - GlobalSmall-Cap Index Fund EUR 191,940 2.07

400 Vanguard Investment Series - PacificEx-Japan Stock Index Fund EUR 52,768 0.57

1,429,047 15.37


70






Currency Market

Value

% of

Net

Assets

OPEN ENDED FUNDS EUR %Luxembourg

480 Amundi Index Solutions - Amundi IndexMSCI Japan EUR 52,017 0.56

5 BNP Paribas Easy JPM EMU EUR 634,366 6.83





DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets0 EURO STOXX 50 Index Future 09/17 EUR 1,476 (44) (0.00)0 FTSE 100 Index Future 09/17 GBP 1,346 (32) (0.00)0 S&P 500 E-mini Index Future 09/17 USD 6,809 (20) (0.00)0 S&P 500 Index Future 09/17 USD 757 (2) (0.00)0 Swiss Market Index Future 09/17 CHF 342 (1) (0.00)0 Topix Index Future 09/17 JPY 2,482 9 0.00

TOTAL FUTURES CONTRACTS (90) (0.00)

DERIVATIVES (90) 0.00

OTHER ASSETS LESS LIABILITIES 17,792 0.19




71






Currency Market

Value

% of

Net

Assets



840 0.01Australia

778 BHP Billiton GBP 10,424 0.06602 BWP Trust AUD 1,208 0.01374 Charter Hall Retail REIT AUD 1,024 0.01

2,219 Cromwell Property Group AUD 1,418 0.011,420 Dexus AUD 9,054 0.052,543 Goodman Group AUD 13,458 0.082,543 GPT Group AUD 8,193 0.05


799 Shopping Centres Australasia PropertyGroup AUD 1,177 0.01

3,284 Stockland AUD 9,673 0.063,569 Vicinity Centres AUD 6,168 0.042,702 Westfield AUD 14,591 0.09

106,173 0.65Austria

29 ANDRITZ EUR 1,497 0.01148 BUWOG EUR 3,726 0.02

93 Erste Group Bank EUR 3,118 0.021,163 IMMOFINANZ EUR 2,327 0.02

48 OMV EUR 2,181 0.0169 Raiffeisen Bank International EUR 1,528 0.0129 voestalpine EUR 1,191 0.01

15,568 0.10Belgium

59 Ageas EUR 2,090 0.01276 Anheuser-Busch InBev EUR 26,706 0.16

27 Cofinimmo EUR 2,842 0.0223 Colruyt EUR 1,054 0.0131 Groupe Bruxelles Lambert EUR 2,591 0.0298 KBC Group EUR 6,494 0.0444 Proximus EUR 1,352 0.0131 Solvay EUR 3,682 0.0210 Telenet Group Holding EUR 565 0.0056 UCB EUR 3,339 0.0229 Umicore EUR 1,780 0.01

52,495 0.32Bermuda

13 Arch Capital Group USD 1,084 0.012 Axis Capital Holdings USD 101 0.005 Everest Re Group USD 1,026 0.01

16 Marvell Technology Group USD 240 0.002 RenaissanceRe Holdings USD 306 0.00

14 XL Group USD 525 0.00

3,282 0.02Brazil

1,214 BR Malls Participacoes BRL 3,841 0.02104 Iguatemi Empresa de Shopping Centers BRL 902 0.01132 Multiplan Empreendimentos Imobiliarios BRL 2,280 0.01

7,023 0.04Canada



200 Canadian Apartment Properties REIT CAD 4,537 0.03109 Canadian Real Estate Investment Trust CAD 3,374 0.02266 Chartwell Retirement Residences CAD 2,786 0.02244 Cominar Real Estate Investment Trust CAD 2,096 0.01163 Dream Office Real Estate Investment Trust CAD 2,152 0.01205 First Capital Realty CAD 2,736 0.02


0 International Petroleum SEK 0 0.009 lululemon Athletica USD 482 0.00

314 Pure Industrial Real Estate Trust CAD 1,457 0.01443 RioCan Real Estate Investment Trust CAD 7,205 0.05149 Smart Real Estate Investment Trust CAD 3,230 0.02

22 Waste Connections USD 1,229 0.01

46,359 0.29






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile

184 Antofagasta GBP 1,677 0.01

1,677 0.01Denmark

1 AP Moeller - Maersk – A – DKK 1,747 0.012 AP Moeller - Maersk – B – DKK 4,129 0.03

38 Carlsberg – B – DKK 3,556 0.0237 Chr Hansen Holding DKK 2,365 0.0242 Coloplast – B – DKK 3,062 0.02

288 Danske Bank DKK 9,686 0.0657 DONG Energy DKK 2,267 0.0174 DSV DKK 3,984 0.0222 Genmab DKK 4,175 0.0332 H Lundbeck DKK 1,587 0.0146 ISS DKK 1,571 0.01

655 Novo Nordisk – B – DKK 24,572 0.1582 Novozymes – B – DKK 3,131 0.0240 Pandora DKK 3,221 0.02

403 TDC DKK 2,054 0.0112 Tryg DKK 221 0.0086 Vestas Wind Systems DKK 6,981 0.0456 William Demant Holding DKK 1,267 0.01

79,576 0.49Finland

37 Elisa EUR 1,260 0.01143 Fortum EUR 1,958 0.01131 Kone – B – EUR 5,859 0.04

50 Metso EUR 1,508 0.0139 Neste EUR 1,346 0.01

2,159 Nokia EUR 11,560 0.0754 Nokian Renkaat EUR 1,955 0.0138 Orion – B – EUR 2,153 0.01

173 Sampo – A – EUR 7,756 0.05176 Stora Enso – R – EUR 1,991 0.01208 UPM-Kymmene EUR 5,193 0.03

56 Wartsila EUR 2,917 0.02

45,456 0.28France

74 Accor EUR 3,049 0.028 Aeroports de Paris EUR 1,185 0.01

143 Air Liquide EUR 15,459 0.10214 Airbus EUR 15,438 0.10

72 Alstom EUR 2,198 0.0124 Arkema EUR 2,238 0.0138 Atos EUR 4,706 0.03

693 AXA EUR 16,607 0.10418 BNP Paribas EUR 26,363 0.16214 Bollore EUR 850 0.01

83 Bouygues EUR 3,065 0.02103 Bureau Veritas EUR 2,002 0.01

55 Capgemini EUR 4,956 0.03209 Carrefour EUR 4,639 0.03

31 Casino Guichard Perrachon EUR 1,618 0.01195 Cie de Saint-Gobain EUR 9,113 0.06

67 Cie Generale des Etablissements Michelin EUR 7,761 0.0536 CNP Assurances EUR 714 0.00

393 Credit Agricole EUR 5,530 0.03210 Danone EUR 13,819 0.09

1 Dassault Aviation EUR 1,319 0.0141 Dassault Systemes EUR 3,179 0.0281 Edenred EUR 1,839 0.0129 Eiffage EUR 2,279 0.01

189 Electricite de France EUR 1,792 0.01619 Engie EUR 8,184 0.05

81 Essilor International EUR 9,011 0.068 Eurazeo EUR 528 0.00

83 Eutelsat Communications EUR 1,858 0.0155 Fonciere Des Regions EUR 4,485 0.0367 Gecina EUR 9,212 0.06

204 Groupe Eurotunnel EUR 1,902 0.0112 Hermes International EUR 5,268 0.0353 ICADE EUR 3,905 0.0211 Iliad EUR 2,324 0.0114 Imerys EUR 1,066 0.0121 Ingenico Group EUR 1,671 0.0118 Ipsen EUR 2,105 0.0133 JCDecaux EUR 936 0.01


72






Currency Market

Value

% of

Net

Assets


27 Kering EUR 8,029 0.05363 Klepierre EUR 13,027 0.08

29 Lagardere EUR 807 0.0192 Legrand EUR 5,647 0.0493 L’Oreal EUR 16,994 0.10

101 LVMH Moet Hennessy Louis Vuitton EUR 21,966 0.14400 Natixis EUR 2,349 0.01778 Orange EUR 10,802 0.07

83 Pernod Ricard EUR 9,705 0.06198 Peugeot EUR 3,451 0.02

77 Publicis Groupe EUR 4,999 0.0310 Remy Cointreau EUR 1,067 0.0167 Renault EUR 5,345 0.03

118 Rexel EUR 1,691 0.01116 Safran EUR 9,283 0.06436 Sanofi EUR 36,533 0.22200 Schneider Electric EUR 13,448 0.08

78 SCOR EUR 2,696 0.0211 SEB EUR 1,804 0.0113 Societe BIC EUR 1,302 0.01

271 Societe Generale EUR 12,783 0.0831 Sodexo EUR 3,489 0.02

102 Suez EUR 1,649 0.0141 Thales EUR 3,888 0.02


15 Unibail-Rodamco (traded in Netherlands) EUR 3,317 0.0281 Valeo EUR 4,799 0.03

203 Veolia Environnement EUR 3,762 0.02178 Vinci EUR 13,316 0.08363 Vivendi EUR 7,082 0.04

7 Wendel EUR 917 0.0187 Zodiac Aerospace EUR 2,063 0.01

504,254 3.10Germany

66 adidas EUR 11,107 0.07171 Allianz EUR 29,433 0.18187 alstria office REIT EUR 2,214 0.01

23 Axel Springer EUR 1,193 0.01333 BASF EUR 26,994 0.17310 Bayer EUR 35,111 0.22129 Bayerische Motoren Werke EUR 10,490 0.06

21 Bayerische Motoren Werke – Pref – EUR 1,524 0.0136 Beiersdorf EUR 3,300 0.0259 Brenntag EUR 2,983 0.02

415 Commerzbank EUR 4,328 0.0339 Continental EUR 7,347 0.0442 Covestro EUR 2,649 0.02


75 Deutsche Boerse EUR 6,953 0.0472 Deutsche Euroshop EUR 2,484 0.02

103 Deutsche Lufthansa EUR 2,051 0.01350 Deutsche Post EUR 11,477 0.07

1,211 Deutsche Telekom EUR 19,036 0.12606 Deutsche Wohnen EUR 20,296 0.12856 E.ON EUR 7,058 0.04

43 Evonik Industries EUR 1,205 0.0116 Fraport Frankfurt Airport Services

Worldwide EUR 1,238 0.01146 Fresenius & Co EUR 10,967 0.07

82 Fresenius Medical Care & Co EUR 6,943 0.0430 FUCHS PETROLUB – Pref – EUR 1,444 0.0171 GEA Group EUR 2,554 0.0219 Hannover Rueck EUR 2,016 0.0158 HeidelbergCement EUR 4,911 0.0338 Henkel & Co EUR 3,982 0.0270 Henkel & Co – Pref – EUR 8,476 0.05

9 HOCHTIEF EUR 1,445 0.0117 HUGO BOSS EUR 1,034 0.01

449 Infineon Technologies EUR 8,293 0.0554 Innogy EUR 1,845 0.0189 K+S EUR 2,004 0.0140 LANXESS EUR 2,643 0.0280 LEG Immobilien EUR 6,566 0.0465 Linde EUR 10,826 0.0714 MAN EUR 1,290 0.01






Currency Market

Value

% of

Net

Assets


44 Merck EUR 4,624 0.0383 METRO EUR 2,460 0.0163 Muenchener

Rueckversicherungs-Gesellschaft inMuenchen EUR 11,083 0.07

33 OSRAM Licht EUR 2,277 0.0148 Porsche Automobil Holding – Pref – EUR 2,355 0.0190 ProSiebenSat.1 Media EUR 3,280 0.02

167 RWE EUR 2,918 0.02368 SAP EUR 33,668 0.21


54 Symrise EUR 3,333 0.02175 TAG Immobilien EUR 2,414 0.01161 Telefonica Deutschland Holding EUR 705 0.00143 thyssenkrupp EUR 3,567 0.02206 TUI GBP 2,620 0.02

45 United Internet EUR 2,161 0.019 Volkswagen EUR 1,197 0.01


41 Zalando EUR 1,648 0.01

472,488 2.91Hong Kong

959 Hang Lung Group HKD 3,478 0.023,197 Hang Lung Properties HKD 7,003 0.041,595 Henderson Land Development HKD 7,802 0.051,706 Hongkong Land Holdings USD 11,007 0.07

887 Hysan Development HKD 3,713 0.023,075 Link REIT HKD 20,516 0.124,486 Sino Land HKD 6,449 0.041,619 Swire Properties HKD 4,682 0.031,731 Wharf Holdings HKD 12,579 0.081,202 Wheelock & Co HKD 7,950 0.05

85,179 0.52Ireland

53 Accenture – A – USD 5,716 0.0441 AerCap Holdings USD 1,676 0.01

7 Alkermes USD 354 0.009 Allegion USD 650 0.00

10,330 Bank of Ireland EUR 2,376 0.01325 CRH EUR 10,054 0.06

35 DCC GBP 2,756 0.023 Jazz Pharmaceuticals USD 407 0.00

59 Kerry Group – A – EUR 4,414 0.03118 Medtronic USD 9,222 0.06

34 Paddy Power Betfair EUR 3,169 0.0212 Perrigo USD 813 0.0071 Ryanair Holdings EUR 1,272 0.01

42,879 0.26Italy

481 Assicurazioni Generali EUR 6,934 0.04167 Atlantia EUR 4,113 0.02

3,008 Enel EUR 14,121 0.09941 Eni EUR 12,383 0.08

48 Ferrari EUR 3,597 0.024,693 Intesa Sanpaolo EUR 13,028 0.08

435 Intesa Sanpaolo – RSP – EUR 1,130 0.0154 Luxottica Group EUR 2,713 0.02

161 Mediobanca EUR 1,391 0.01204 Poste Italiane EUR 1,221 0.01

96 Prysmian EUR 2,484 0.0149 Recordati EUR 1,734 0.01

237 Saipem EUR 767 0.00887 Snam EUR 3,385 0.02

3,623 Telecom Italia EUR 2,927 0.022,560 Telecom Italia – RSP – EUR 1,651 0.01

566 Terna Rete Elettrica Nazionale EUR 2,676 0.02740 UniCredit EUR 12,105 0.07560 UnipolSai Assicurazioni EUR 1,070 0.01

89,430 0.55Japan




73






Currency Market

Value

% of

Net

Assets


891 Daiwa House Industry JPY 26,688 0.162 Daiwa House REIT Investment JPY 4,297 0.031 Daiwa Office Investment JPY 2,420 0.011 Frontier Real Estate Investment JPY 2,438 0.014 GLP J-REIT JPY 3,498 0.02

797 Hulic JPY 7,138 0.041 Hulic REIT JPY 1,815 0.010 Industrial & Infrastructure Fund Investment JPY 1,870 0.015 Invincible Investment JPY 1,919 0.012 Japan Excellent JPY 1,556 0.015 Japan Hotel REIT Investment JPY 3,145 0.021 Japan Logistics Fund JPY 2,449 0.011 Japan Prime Realty Investment JPY 3,820 0.022 Japan Real Estate Investment JPY 8,126 0.052 Japan Rental Housing Investments JPY 1,624 0.014 Japan Retail Fund Investment JPY 5,916 0.041 Kenedix Office Investment JPY 2,819 0.021 Kenedix Retail REIT JPY 1,195 0.012 LaSalle Logiport REIT JPY 1,426 0.01

1,846 Mitsubishi Estate JPY 30,164 0.191,300 Mitsui Fudosan JPY 27,188 0.17


174 NTT Urban Development JPY 1,471 0.014 Orix JREIT JPY 4,637 0.032 Premier Investment JPY 1,332 0.01



212,177 1.30Jersey

36 Randgold Resources GBP 2,761 0.02

2,761 0.02Jordan


903 0.01Luxembourg

246 ArcelorMittal EUR 4,882 0.035 Eurofins Scientific EUR 2,296 0.01

154 Grand City Properties EUR 2,702 0.0213 Millicom International Cellular – SDR – SEK 688 0.0018 RTL Group EUR 1,195 0.01

161 SES EUR 3,294 0.02140 Tenaris EUR 1,915 0.01

16,972 0.10Mexico

4,055 Fibra Uno Administracion MXN 6,762 0.04108 Fresnillo GBP 1,827 0.01


749 Aegon EUR 3,348 0.0298 Akzo Nobel EUR 7,476 0.05

165 Altice – A – EUR 3,336 0.0240 Altice – B – EUR 802 0.00

138 ASML Holding EUR 15,755 0.1042 Boskalis Westminster EUR 1,209 0.01

4 Core Laboratories USD 351 0.0047 EXOR EUR 2,210 0.0125 Gemalto EUR 1,292 0.0189 Heineken EUR 7,585 0.0541 Heineken Holding EUR 3,275 0.02

1,435 ING Groep EUR 21,662 0.13499 Koninklijke Ahold Delhaize EUR 8,361 0.05

60 Koninklijke DSM EUR 3,833 0.021,100 Koninklijke KPN EUR 3,081 0.02


107 NN Group EUR 3,315 0.02128 NXP Semiconductors USD 12,281 0.08

71 QIAGEN EUR 2,080 0.0133 Randstad Holding EUR 1,673 0.01

1,638 Royal Dutch Shell – A – GBP 37,966 0.23






Currency Market

Value

% of

Net

Assets


1,385 Royal Dutch Shell – B – GBP 32,541 0.2050 Wereldhave EUR 2,160 0.01

118 Wolters Kluwer EUR 4,362 0.03

191,538 1.18Norway

381 DNB NOK 5,662 0.0493 Gjensidige Forsikring NOK 1,393 0.01

177 Marine Harvest NOK 2,652 0.02528 Norsk Hydro NOK 2,559 0.02249 Orkla NOK 2,210 0.01


440 Statoil NOK 6,368 0.04272 Telenor NOK 3,945 0.02

66 Yara International NOK 2,152 0.01



8,044 0.05Portugal

803 EDP - Energias de Portugal EUR 2,298 0.01191 Galp Energia EUR 2,532 0.02

69 Jeronimo Martins EUR 1,192 0.01

6,022 0.04Romania


3,508 0.02Singapore




3,363 Growthpoint Properties ZAR 5,508 0.03333 Hyprop Investments ZAR 2,603 0.02289 Investec GBP 1,889 0.01172 Mediclinic International GBP 1,454 0.01156 Mondi GBP 3,577 0.02


23,276 0.14Spain

270 Abertis Infraestructuras EUR 4,383 0.03103 ACS Actividades de Construccion y

Servicios EUR 3,496 0.02103 ACS Actividades de Construccion y

Servicios – Rights – EUR 72 0.0025 Aena EUR 4,272 0.03

162 Amadeus IT Group EUR 8,497 0.052,395 Banco Bilbao Vizcaya Argentaria EUR 17,395 0.112,080 Banco de Sabadell EUR 3,700 0.025,454 Banco Santander EUR 31,589 0.19

505 Bankia EUR 2,137 0.01205 Bankinter EUR 1,651 0.01

1,399 CaixaBank EUR 5,848 0.04189 Distribuidora Internacional de Alimentacion EUR 1,029 0.01

71 Enagas EUR 1,750 0.0194 Endesa EUR 1,902 0.01

206 Ferrovial EUR 3,994 0.03111 Gamesa Technologica EUR 2,081 0.01108 Gas Natural SDG EUR 2,213 0.01

98 Grifols EUR 2,399 0.022,151 Iberdrola EUR 14,909 0.09

404 Industria de Diseno Textil EUR 13,561 0.08341 Inmobiliaria Colonial EUR 2,602 0.02221 Mapfre EUR 677 0.00435 Merlin Properties Socimi EUR 4,809 0.03151 Red Electrica EUR 2,761 0.02463 Repsol EUR 6,209 0.04


74






Currency Market

Value

% of

Net

Assets


463 Repsol – Rights – EUR 185 0.001,665 Telefonica EUR 15,049 0.09

159,170 0.98Sweden

139 Alfa Laval SEK 2,484 0.01391 Assa Abloy – B – SEK 7,517 0.05262 Atlas Copco – A – SEK 8,789 0.05152 Atlas Copco – B – SEK 4,603 0.03

8 Autoliv USD 809 0.0082 Boliden SEK 1,948 0.01

343 Castellum SEK 4,416 0.03101 Electrolux – B – SEK 2,886 0.02202 Essity – B – SEK 4,836 0.03188 Fabege SEK 3,160 0.02121 Fastighets Balder – B – SEK 2,565 0.02

41 Getinge – B – SEK 703 0.00370 Hennes & Mauritz – B – SEK 8,075 0.05

85 Hexagon – B – SEK 3,536 0.02143 Hufvudstaden – A – SEK 2,073 0.01131 Husqvarna – B – SEK 1,140 0.01


163 Investor – B – SEK 6,890 0.0467 Kinnevik – B – SEK 1,800 0.0119 L E Lundbergforetagenn – B – SEK 1,284 0.0170 Lundin Petroleum SEK 1,185 0.01

1,105 Nordea Bank SEK 12,308 0.07430 Sandvik SEK 5,924 0.04

77 Securitas – B – SEK 1,137 0.01592 Skandinaviska Enskilda Banken – A – SEK 6,272 0.04144 Skanska – B – SEK 3,001 0.02147 SKF – B – SEK 2,609 0.02595 Svenska Handelsbanken – A – SEK 7,463 0.05307 Swedbank – A – SEK 6,558 0.04

62 Swedish Match SEK 1,916 0.01158 Tele2 – B – SEK 1,452 0.01

1,196 Telefonaktiebolaget LM Ericsson – B – SEK 7,493 0.051,062 Telia SEK 4,284 0.03

606 Volvo – B – SEK 9,043 0.05


737 ABB CHF 15,984 0.1063 Adecco Group CHF 4,230 0.0318 Baloise Holding CHF 2,430 0.01

0 Barry Callebaut CHF 492 0.000 Chocoladefabriken Lindt & Spruengli CHF 2,428 0.010 Chocoladefabriken Lindt & Spruengli –

REG – CHF 2,142 0.0137 Chubb USD 4,704 0.03

193 Cie Financiere Richemont CHF 13,965 0.0985 Coca-Cola GBP 2,192 0.01

915 Credit Suisse Group CHF 11,606 0.0710 Dufry CHF 1,493 0.01

4 EMS-Chemie Holding CHF 2,477 0.027 Garmin USD 316 0.00

14 Geberit CHF 5,778 0.043 Givaudan CHF 5,733 0.04

4,586 Glencore GBP 15,000 0.0980 Julius Baer Group CHF 3,716 0.0216 Kuehne & Nagel International CHF 2,409 0.01

157 LafargeHolcim CHF 7,899 0.0525 Lonza Group CHF 4,652 0.03

1,144 Nestle CHF 87,385 0.54826 Novartis CHF 60,345 0.37

16 Pargesa Holding CHF 1,086 0.017 Partners Group Holding CHF 3,683 0.02


17 Schindler Holding CHF 3,086 0.029 Schindler Holding – REG – CHF 1,555 0.012 SGS CHF 4,279 0.031 Sika CHF 4,061 0.02

20 Sonova Holding CHF 2,821 0.02278 STMicroelectronics EUR 3,491 0.02

4 Straumann Holding CHF 2,222 0.0112 Swatch Group CHF 4,024 0.0214 Swatch Group – REG – CHF 877 0.01






Currency Market

Value

% of

Net

Assets


13 Swiss Life Holding CHF 3,706 0.02117 Swiss Prime Site CHF 9,352 0.06126 Swiss Re CHF 10,137 0.06

10 Swisscom CHF 4,276 0.0327 TE Connectivity USD 1,834 0.01

1,353 UBS Group CHF 20,119 0.1213 Vifor Pharma CHF 1,233 0.0112 Weatherford International USD 39 0.0096 Wolseley GBP 5,172 0.0356 Zurich Insurance Group CHF 14,240 0.09


413 3i Group GBP 4,246 0.03346 Aberdeen Asset Management GBP 1,192 0.01

79 Admiral Group GBP 1,812 0.01453 Anglo American GBP 5,278 0.03

21 Aon USD 2,395 0.01212 Ashtead Group GBP 3,836 0.02114 Associated British Foods GBP 3,830 0.02468 AstraZeneca GBP 27,369 0.17376 Auto Trader Group GBP 1,627 0.01

1,595 Aviva GBP 9,555 0.06118 Babcock International Group GBP 1,184 0.01

6,275 Barclays GBP 14,490 0.09433 Barratt Developments GBP 2,778 0.02

49 Berkeley Group Holdings GBP 1,813 0.017,235 BP GBP 36,485 0.22

690 British American Tobacco GBP 41,106 0.251,781 British Land GBP 12,284 0.083,300 BT Group GBP 11,078 0.07

142 Bunzl GBP 3,714 0.02171 Burberry Group GBP 3,236 0.02315 Capita GBP 2,481 0.01695 Capital & Counties Properties GBP 2,316 0.01

2,030 Centrica GBP 4,629 0.03434 CNH Industrial EUR 4,300 0.03

1,129 Cobham GBP 1,666 0.0196 Coca-Cola European Partners EUR 3,399 0.02

554 Compass Group GBP 10,228 0.06547 ConvaTec Group GBP 1,988 0.01

57 Croda International GBP 2,530 0.0220 Delphi Automotive USD 1,514 0.01

160 Derwent London GBP 4,835 0.03937 Diageo GBP 24,212 0.15516 Direct Line Insurance Group GBP 2,090 0.01416 Dixons Carphone GBP 1,344 0.01

76 easyJet GBP 1,170 0.01368 Experian GBP 6,595 0.04336 Fiat Chrysler Automobiles EUR 3,098 0.02605 G4S GBP 2,248 0.01725 GKN GBP 2,692 0.02

1,786 GlaxoSmithKline GBP 33,274 0.20447 Great Portland Estates GBP 3,040 0.02

1,341 Hammerson GBP 8,772 0.0577 Hargreaves Lansdown GBP 1,139 0.01

7,347 HSBC Holdings GBP 59,549 0.3739 IHS Markit USD 1,504 0.01

128 IMI GBP 1,743 0.01359 Imperial Brands GBP 14,082 0.09203 Inmarsat GBP 1,777 0.01

56 InterContinental Hotels Group GBP 2,744 0.02297 International Consolidated Airlines Group EUR 2,064 0.01

54 Intertek Group GBP 2,613 0.021,359 Intu Properties GBP 4,166 0.031,596 ITV GBP 3,297 0.02

616 J Sainsbury GBP 1,765 0.0174 Johnson Matthey GBP 2,411 0.01

107 Kennedy Wilson Europe Real Estate GBP 1,354 0.01699 Kingfisher GBP 2,395 0.01

1,330 Land Securities Group GBP 15,350 0.092,067 Legal & General Group GBP 6,080 0.04

31 Liberty Global – A – USD 871 0.0146 Liberty Global – C – USD 1,250 0.01

26,431 Lloyds Banking Group GBP 19,913 0.12117 London Stock Exchange Group GBP 4,842 0.03452 Marks & Spencer Group GBP 1,717 0.01362 Meggitt GBP 1,968 0.01


75






Currency Market

Value

% of

Net

Assets


317 Merlin Entertainments GBP 1,737 0.0114 Michael Kors Holdings USD 437 0.00

1,271 National Grid GBP 13,780 0.080 NEX Group GBP 0 0.00

62 Next GBP 2,708 0.021,922 Old Mutual GBP 4,233 0.03

245 Pearson GBP 1,932 0.019 Pentair USD 526 0.00

120 Persimmon GBP 3,071 0.02100 Petrofac GBP 504 0.00

71 Provident Financial GBP 1,954 0.01927 Prudential GBP 18,584 0.11246 Reckitt Benckiser Group GBP 21,808 0.13377 RELX (traded in Netherlands) EUR 6,778 0.04421 RELX (traded in United Kingdom) GBP 7,963 0.05458 Rio Tinto GBP 16,899 0.10631 Rolls-Royce Holdings GBP 6,399 0.04

1,383 Royal Bank of Scotland Group GBP 3,893 0.02351 Royal Mail GBP 1,683 0.01295 RSA Insurance Group GBP 2,066 0.01421 Sage Group GBP 3,299 0.02

51 Schroders GBP 1,800 0.011,666 Segro GBP 9,284 0.06

103 Severn Trent GBP 2,560 0.02242 Shaftesbury GBP 2,684 0.02375 Sky GBP 4,242 0.03301 Smith & Nephew GBP 4,542 0.03168 Smiths Group GBP 3,054 0.02394 SSE GBP 6,526 0.04198 St James’s Place GBP 2,662 0.02

1,280 Standard Chartered GBP 11,333 0.07840 Standard Life GBP 3,820 0.02197 Tate & Lyle GBP 1,488 0.01

1,389 Taylor Wimpey GBP 2,787 0.0248 TechnipFMC USD 1,142 0.01

2,801 Tesco GBP 5,384 0.030 TP ICAP GBP 0 0.00

98 Travis Perkins GBP 1,621 0.011,602 Tritax Big Box REIT GBP 2,668 0.02

475 Unilever GBP 22,464 0.14609 Unilever – CVA – EUR 29,414 0.18315 UNITE Group GBP 2,332 0.01290 United Utilities Group GBP 2,861 0.02

9,846 Vodafone Group GBP 24,417 0.1568 Weir Group GBP 1,346 0.0179 Whitbread GBP 3,559 0.02

9 Willis Towers Watson USD 1,134 0.01942 Wm Morrison Supermarkets GBP 2,588 0.02599 Worldpay Group GBP 2,147 0.01499 WPP GBP 9,178 0.06


50 3M USD 9,219 0.06139 Abbott Laboratories USD 5,903 0.04137 AbbVie USD 8,721 0.05119 Acadia Realty Trust USD 2,905 0.02

58 Activision Blizzard USD 2,905 0.024 Acuity Brands USD 661 0.00

42 Adobe Systems USD 5,154 0.037 Advance Auto Parts USD 727 0.00

87 Advanced Micro Devices USD 951 0.0172 AES USD 697 0.0032 Aetna USD 4,233 0.03

5 Affiliated Managers Group USD 766 0.0029 Aflac USD 1,989 0.01

5 AGCO USD 289 0.0031 Agilent Technologies USD 1,622 0.0137 AGNC Investment USD 682 0.0046 Agree Realty USD 1,832 0.0119 Air Products & Chemicals USD 2,344 0.0119 Akamai Technologies USD 832 0.0112 Albemarle USD 1,128 0.01

131 Alexandria Real Estate Equities USD 13,861 0.0922 Alexion Pharmaceuticals USD 2,355 0.01

7 Align Technology USD 953 0.012 Alleghany USD 898 0.01

27 Allergan USD 5,707 0.04






Currency Market

Value

% of

Net

Assets


3 Alliance Data Systems USD 617 0.0025 Alliant Energy USD 868 0.0133 Allstate USD 2,594 0.0230 Ally Financial USD 546 0.0025 Alphabet – A – USD 20,207 0.1226 Alphabet – C – USD 20,764 0.13

164 Altria Group USD 10,727 0.0733 Amazon.com USD 28,126 0.17

1 AMERCO USD 203 0.0020 Ameren USD 939 0.0118 American Airlines Group USD 801 0.0049 American Assets Trust USD 1,688 0.01

189 American Campus Communities USD 7,833 0.0543 American Electric Power USD 2,618 0.0263 American Express USD 4,648 0.03


82 American International Group USD 4,472 0.0333 American Tower USD 3,866 0.0214 American Water Works USD 991 0.0112 Ameriprise Financial USD 1,395 0.0110 AmerisourceBergen USD 812 0.0119 AMETEK USD 1,032 0.0159 Amgen USD 8,943 0.0630 Amphenol – A – USD 1,919 0.0149 Anadarko Petroleum USD 1,957 0.0131 Analog Devices USD 2,135 0.0156 Annaly Capital Management USD 588 0.0010 Ansys USD 1,018 0.0110 Antero Resources USD 185 0.0022 Anthem USD 3,626 0.02

5 AO Smith USD 246 0.0034 Apache USD 1,444 0.01

226 Apartment Investment & Management – A – USD 8,497 0.05431 Apple USD 54,412 0.33310 Apple Hospitality REIT USD 5,089 0.03

83 Applied Materials USD 3,011 0.0225 Aramark USD 900 0.0146 Archer-Daniels-Midland USD 1,675 0.0139 Arconic USD 769 0.00

4 Arista Networks USD 580 0.002 Arrow Electronics USD 157 0.00

19 Arthur J Gallagher & Co USD 964 0.01120 Ashford Hospitality Trust USD 641 0.00

3 Assurant USD 233 0.00520 AT&T USD 17,210 0.11

10 Atmos Energy USD 726 0.0015 Autodesk USD 1,320 0.0134 Automatic Data Processing USD 3,014 0.02

5 AutoNation USD 192 0.003 AutoZone USD 1,513 0.01

205 AvalonBay Communities USD 34,578 0.214 Avery Dennison USD 281 0.002 Avnet USD 60 0.005 Axalta Coating Systems USD 138 0.00

27 Baker Hughes USD 1,283 0.0136 Ball USD 1,328 0.01

833 Bank of America USD 17,729 0.1180 Bank of New York Mellon USD 3,594 0.0235 Baxter International USD 1,843 0.0167 BB&T USD 2,667 0.0219 Becton Dickinson & Co USD 3,246 0.0216 Bed Bath & Beyond USD 438 0.00

103 Berkshire Hathaway – B – USD 15,267 0.0931 Best Buy USD 1,551 0.0118 Biogen USD 4,240 0.0318 BioMarin Pharmaceutical USD 1,403 0.0110 BlackRock USD 3,701 0.0249 Boeing USD 8,485 0.0511 BorgWarner USD 399 0.00

228 Boston Properties USD 24,563 0.15115 Boston Scientific USD 2,787 0.02243 Brandywine Realty Trust USD 3,741 0.02141 Bristol-Myers Squibb USD 6,873 0.04435 Brixmor Property Group USD 6,821 0.04

34 Broadcom USD 7,031 0.0412 Broadridge Financial Solutions USD 783 0.00



76






Currency Market

Value

% of

Net

Assets


24 Brown-Forman – B – USD 1,015 0.0115 Bunge USD 994 0.0134 CA USD 1,026 0.0145 Cabot Oil & Gas USD 982 0.0114 Cadence Design Systems USD 422 0.00

134 Camden Property Trust USD 10,077 0.0622 Campbell Soup USD 998 0.0140 Capital One Financial USD 2,876 0.0226 Cardinal Health USD 1,792 0.01

122 Care Capital Properties USD 2,866 0.0298 CareTrust REIT USD 1,596 0.0121 CarMax USD 1,163 0.0168 Carnival (traded in United Kingdom) GBP 3,921 0.0228 Carnival (traded in United States) USD 1,599 0.0150 Caterpillar USD 4,681 0.03

275 CBL & Associates Properties USD 2,032 0.0110 CBOE Holdings USD 773 0.0033 CBRE Group – A – USD 1,046 0.0135 CBS – B – USD 1,936 0.0114 CDK Global USD 747 0.00

8 CDW USD 438 0.0015 Celanese – A – USD 1,242 0.0166 Celgene USD 7,461 0.0516 Centene USD 1,156 0.0144 CenterPoint Energy USD 1,066 0.0133 CenturyLink USD 699 0.0019 Cerner USD 1,113 0.0111 CF Industries Holdings USD 259 0.00

9 CH Robinson Worldwide USD 523 0.0099 Charles Schwab USD 3,739 0.0218 Charter Communications – A – USD 5,280 0.0357 Chatham Lodging Trust USD 999 0.0111 Cheniere Energy USD 452 0.0081 Chesapeake Lodging Trust USD 1,746 0.01

157 Chevron USD 14,353 0.091 Chipotle Mexican Grill USD 505 0.00

31 Church & Dwight USD 1,414 0.0119 Cigna USD 2,803 0.02

9 Cimarex Energy USD 752 0.0015 Cincinnati Financial USD 960 0.01

9 Cintas USD 1,027 0.01402 Cisco Systems USD 11,041 0.07

10 CIT Group USD 414 0.00227 Citigroup USD 13,331 0.08

33 Citizens Financial Group USD 1,032 0.0117 Citrix Systems USD 1,175 0.01

9 Clorox USD 1,009 0.0132 CME Group USD 3,519 0.0230 CMS Energy USD 1,232 0.0127 Coach USD 1,124 0.01

345 Coca-Cola USD 13,587 0.0845 Cognizant Technology Solutions – A – USD 2,604 0.0269 Colgate-Palmolive USD 4,491 0.0319 Colony NorthStar – A – USD 236 0.00

150 Colony Starwood Homes USD 4,505 0.03183 Columbia Property Trust USD 3,600 0.02392 Comcast – A – USD 13,371 0.08

10 Comerica USD 615 0.0019 CommScope Holding USD 621 0.0029 Conagra Brands USD 910 0.0114 Concho Resources USD 1,501 0.01

109 ConocoPhillips USD 4,216 0.0329 Consolidated Edison USD 2,040 0.0115 Constellation Brands – A – USD 2,474 0.02

3 Cooper Cos USD 535 0.0070 Corning USD 1,840 0.01

132 Corporate Office Properties Trust USD 4,042 0.021 CoStar Group USD 326 0.00

35 Costco Wholesale USD 4,974 0.0353 Coty – A – USD 866 0.01

631 Cousins Properties USD 4,859 0.035 CR Bard USD 1,363 0.01

27 Crown Castle International USD 2,361 0.017 Crown Holdings USD 380 0.00

80 CSX USD 3,849 0.02241 CubeSmart USD 5,070 0.03

11 Cummins USD 1,593 0.0180 CVS Health USD 5,649 0.03






Currency Market

Value

% of

Net

Assets


126 CyrusOne USD 6,145 0.0457 Danaher USD 4,250 0.0313 Darden Restaurants USD 1,023 0.0118 DaVita USD 1,018 0.01


24 Deere & Co USD 2,607 0.0224 Dell Technologies – V – USD 1,297 0.0121 Delta Air Lines USD 987 0.0114 Dentsply Sirona USD 776 0.0037 Devon Energy USD 1,038 0.01

3 DexCom USD 166 0.004 Diamondback Energy USD 279 0.000 Dick’s Sporting Goods USD 3 0.00

233 Digital Realty Trust USD 23,119 0.1435 Discover Financial Services USD 1,898 0.0110 Discovery Communications – A – USD 217 0.00

5 Discovery Communications – C – USD 110 0.0016 DISH Network – A – USD 878 0.0118 Dollar General USD 1,167 0.0123 Dollar Tree USD 1,421 0.0147 Dominion Energy USD 3,182 0.02

3 Domino’s Pizza USD 507 0.00200 Douglas Emmett USD 6,704 0.04

15 Dover USD 1,041 0.0195 Dow Chemical USD 5,235 0.0334 DR Horton USD 1,037 0.0118 Dr Pepper Snapple Group USD 1,410 0.0113 DTE Energy USD 1,162 0.0155 Duke Energy USD 4,025 0.02


25 DXC Technology USD 1,661 0.0113 E*TRADE Financial USD 448 0.0014 East West Bancorp USD 709 0.0035 Easterly Government Properties USD 640 0.0043 EastGroup Properties USD 3,171 0.0216 Eastman Chemical USD 1,188 0.0142 Eaton USD 2,855 0.02

3 Eaton Vance USD 117 0.0084 eBay USD 2,571 0.0220 Ecolab USD 2,364 0.0124 Edison International USD 1,622 0.01

112 Education Realty Trust USD 3,816 0.0215 Edwards Lifesciences USD 1,520 0.0173 EI du Pont de Nemours & Co USD 5,142 0.0323 Electronic Arts USD 2,092 0.0184 Eli Lilly & Co USD 6,066 0.0461 Emerson Electric USD 3,186 0.02

163 Empire State Realty Trust – A – USD 2,975 0.0217 Entergy USD 1,155 0.01

6 Envision Healthcare USD 343 0.0044 EOG Resources USD 3,521 0.02

102 EPR Properties USD 6,421 0.048 EQT USD 421 0.008 Equifax USD 951 0.016 Equinix USD 2,400 0.01

175 Equity Commonwealth USD 4,854 0.03113 Equity LifeStyle Properties USD 8,529 0.05545 Equity Residential USD 31,451 0.19

98 Essex Property Trust USD 22,129 0.1421 Estee Lauders Cos – A – USD 1,744 0.0122 Eversource Energy USD 1,177 0.0181 Exelon USD 2,553 0.02

9 Expedia USD 1,189 0.0117 Expeditors International of Washington USD 865 0.0147 Express Scripts Holding USD 2,656 0.02

257 Extended Stay America USD 4,354 0.03188 Extra Space Storage USD 12,869 0.08347 Exxon Mobil USD 24,543 0.15

7 F5 Networks USD 810 0.00197 Facebook – A – USD 26,082 0.16

21 Fastenal USD 788 0.00109 Federal Realty Investment Trust USD 12,119 0.07

20 FedEx USD 3,747 0.02200 FelCor Lodging Trust USD 1,264 0.01

30 Fidelity National Information Services USD 2,244 0.0175 Fifth Third Bancorp USD 1,708 0.01


77






Currency Market

Value

% of

Net

Assets


177 First Industrial Realty Trust USD 4,431 0.0316 First Republic Bank USD 1,396 0.0131 FirstEnergy USD 788 0.0015 Fiserv USD 1,628 0.01

9 FleetCor Technologies USD 1,192 0.0160 Flex USD 852 0.01

8 FLIR Systems USD 257 0.003 Flowserve USD 130 0.00

13 Fluor USD 540 0.0014 FMC USD 907 0.0127 FNF Group USD 1,053 0.0115 Foot Locker USD 638 0.00

350 Ford Motor USD 3,436 0.02292 Forest City Realty Trust – A – USD 6,189 0.04

16 Fortinet USD 522 0.0034 Fortive USD 1,865 0.0117 Fortune Brands Home & Security USD 952 0.0124 Franklin Resources USD 925 0.01

148 Franklin Street Properties USD 1,439 0.01144 Freeport-McMoRan USD 1,513 0.01


739 General Electric USD 17,502 0.1152 General Mills USD 2,532 0.02

126 General Motors USD 3,853 0.0216 Genuine Parts USD 1,321 0.01

962 GGP USD 19,865 0.12110 Gilead Sciences USD 6,803 0.04

85 Global Net Lease USD 1,665 0.0117 Global Payments USD 1,324 0.0132 Goldman Sachs Group USD 6,173 0.0416 Goodyear Tire & Rubber USD 483 0.00

100 Government Properties Income Trust USD 1,610 0.01216 Gramercy Property Trust USD 5,632 0.03

24 H&R Block USD 655 0.0078 Halliburton USD 2,922 0.0234 Hanesbrands USD 689 0.0010 Harley-Davidson USD 488 0.00

7 Harris USD 679 0.0029 Hartford Financial Services Group USD 1,330 0.01

8 Hasbro USD 789 0.0022 HCA Healthcare USD 1,665 0.01



4 Helmerich & Payne USD 176 0.008 Henry Schein USD 1,240 0.01

39 Hersha Hospitality Trust USD 633 0.0010 Hershey USD 951 0.0131 Hess USD 1,190 0.01

126 Hewlett Packard Enterprise USD 1,832 0.01148 Highwoods Properties USD 6,559 0.04

20 Hilton Worldwide Holdings USD 1,068 0.014 HollyFrontier USD 101 0.00

27 Hologic USD 1,084 0.01100 Home Depot USD 13,465 0.08

61 Honeywell International USD 7,140 0.0415 Hormel Foods USD 451 0.0055 Host Hotels & Resorts USD 885 0.01

141 HP USD 2,156 0.01207 Hudson Pacific Properties USD 6,202 0.04

12 Humana USD 2,469 0.0266 Huntington Bancshares USD 786 0.00

2 Huntington Ingalls Industries USD 336 0.007 IDEX USD 724 0.00

10 IDEXX Laboratories USD 1,375 0.0126 Illinois Tool Works USD 3,319 0.0214 Illumina USD 2,149 0.0117 Incyte USD 1,892 0.0162 Independence Realty Trust USD 536 0.0023 Ingersoll-Rand USD 1,850 0.01

8 Ingredion USD 817 0.01390 Intel USD 11,540 0.07

53 Intercontinental Exchange USD 3,037 0.0272 International Business Machines USD 9,750 0.06

9 International Flavors & Fragrances USD 1,024 0.0128 International Paper USD 1,376 0.01






Currency Market

Value

% of

Net

Assets


44 Interpublic Group of Cos USD 942 0.0118 Intuit USD 2,086 0.01

3 Intuitive Surgical USD 2,510 0.0223 Invesco USD 721 0.00

121 Investors Real Estate Trust USD 661 0.0027 Iron Mountain USD 816 0.01

7 Jack Henry & Associates USD 676 0.004 Jacobs Engineering Group USD 170 0.004 JB Hunt Transport Services USD 359 0.008 JM Smucker USD 818 0.01

227 Johnson & Johnson USD 26,331 0.1690 Johnson Controls International USD 3,423 0.02


22 Juniper Networks USD 527 0.0010 Kansas City Southern USD 953 0.0117 Kellogg USD 1,043 0.0170 KeyCorp USD 1,144 0.01

137 Kilroy Realty USD 9,008 0.0627 Kimberly-Clark USD 3,018 0.02

647 Kimco Realty USD 10,411 0.06151 Kinder Morgan USD 2,533 0.02113 Kite Realty Group Trust USD 1,869 0.01

17 KLA-Tencor USD 1,356 0.0117 Kohl’s USD 588 0.0047 Kraft Heinz USD 3,565 0.0267 Kroger USD 1,364 0.0126 L Brands USD 1,251 0.01

5 L3 Technologies USD 667 0.00110 La Quinta Holdings USD 1,431 0.01

11 Laboratory of America Holdings USD 1,502 0.0112 Lam Research USD 1,509 0.0128 Las Vegas Sands USD 1,562 0.01

8 Lear USD 998 0.0110 Leggett & Platt USD 466 0.0014 Leidos Holdings USD 620 0.0013 Lennar – A – USD 592 0.00

4 Lennox International USD 596 0.0016 Leucadia National USD 365 0.0021 Level 3 Communications USD 1,099 0.01

302 Lexington Realty Trust USD 2,628 0.0212 Liberty Broadband – C – USD 899 0.0147 Liberty Interactive QVC Group – A – USD 1,002 0.01

7 Liberty Media Corp-Liberty SiriusXM – A – USD 247 0.0019 Liberty Media Corp-Liberty SiriusXM – C – USD 704 0.00

232 Liberty Property Trust USD 8,275 0.0570 Life Storage USD 4,568 0.0316 Lincoln National USD 952 0.0115 LKQ USD 440 0.0022 Lockheed Martin USD 5,287 0.0320 Loews USD 801 0.0069 Lowe’s Cos USD 4,690 0.0359 LTC Properties USD 2,672 0.0224 LyondellBasell Industries – A – USD 1,811 0.0113 M&T Bank USD 1,845 0.01


12 Macquarie Infrastructure USD 824 0.019 Macy’s USD 183 0.00

10 Mallinckrodt USD 402 0.009 ManpowerGroup USD 919 0.01

43 Marathon Oil USD 445 0.0040 Marathon Petroleum USD 1,830 0.01

1 Markel USD 828 0.0129 Marriott International – A – USD 2,531 0.0249 Marsh & McLennan Cos USD 3,355 0.02

7 Martin Marietta Materials USD 1,279 0.0132 Masco USD 1,056 0.0182 Mastercard – A – USD 8,760 0.0529 Mattel USD 548 0.0019 Maxim Integrated Products USD 743 0.00

6 McCormick & Co USD 497 0.0066 McDonald’s USD 8,897 0.0517 McKesson USD 2,392 0.01


226 Merck & Co USD 12,704 0.0872 MetLife USD 3,462 0.02


78






Currency Market

Value

% of

Net

Assets


3 Mettler-Toledo International USD 1,307 0.0169 MGM Growth Properties – A – USD 1,778 0.0149 MGM Resorts International USD 1,346 0.0114 Microchip Technology USD 977 0.0195 Micron Technology USD 2,479 0.02

601 Microsoft USD 36,338 0.22165 Mid-America Apartment Communities USD 15,263 0.09

9 Middleby USD 949 0.014 Mohawk Industries USD 945 0.01

18 Molson Coors Brewing – B – USD 1,371 0.01120 Mondelez International – A – USD 4,557 0.03219 Monogram Residential Trust REIT USD 1,865 0.01

33 Monsanto USD 3,441 0.0238 Monster Beverage USD 1,658 0.0113 Moody’s USD 1,433 0.01

116 Morgan Stanley USD 4,547 0.0336 Mosaic USD 722 0.0014 Motorola Solutions USD 1,097 0.0113 MSCI USD 1,140 0.01

6 Murphy Oil USD 139 0.0028 Mylan USD 940 0.01

8 Nasdaq USD 508 0.0058 National Health Investors USD 4,052 0.0233 National Oilwell Varco USD 959 0.01

222 National Retail Properties USD 7,604 0.0560 National Storage Affiliates Trust USD 1,221 0.0129 Navient USD 425 0.0031 NetApp USD 1,102 0.0136 Netflix USD 4,743 0.0317 New York Community Bancorp USD 193 0.00

228 New York REIT USD 1,730 0.0135 Newell Brands USD 1,627 0.0122 Newfield Exploration USD 538 0.0037 Newmont Mining USD 1,037 0.0142 News – A – USD 506 0.0037 NextEra Energy USD 4,539 0.0321 Nielsen Holdings USD 701 0.00

119 NIKE – B – USD 6,146 0.0431 NiSource USD 689 0.0047 Noble Energy USD 1,157 0.01

1 Nordstrom USD 28 0.0026 Norfolk Southern USD 2,723 0.0217 Northern Trust USD 1,416 0.0116 Northrop Grumman USD 3,552 0.0291 NorthStar Realty Europe USD 1,016 0.01

6 Norwegian Cruise Line Holdings USD 309 0.0015 Nuance Communications USD 233 0.0032 Nucor USD 1,635 0.0145 NVIDIA USD 5,738 0.04

0 NVR USD 1,078 0.0170 Occidental Petroleum USD 3,672 0.0215 OGE Energy USD 472 0.00

287 Omega Healthcare Investors USD 8,303 0.0515 Omnicom Group USD 1,088 0.0111 ONEOK USD 495 0.00

246 Oracle USD 10,826 0.079 O’Reilly Automotive USD 1,742 0.01

29 PACCAR USD 1,671 0.015 Packaging of America USD 460 0.00

10 Palo Alto Networks USD 1,141 0.01292 Paramount Group USD 4,100 0.03

11 Parker-Hannifin USD 1,543 0.0147 Parkway USD 951 0.0126 Parsley Energy – A – USD 631 0.00

6 Pattersons Cos USD 238 0.0031 Paychex USD 1,562 0.0190 PayPal Holdings USD 4,235 0.0395 Pennsylvania Real Estate Investment Trust USD 947 0.0118 People’s United Financial USD 282 0.00

121 PepsiCo USD 12,242 0.08493 Pfizer USD 14,511 0.09

44 PG&E USD 2,578 0.02125 Philip Morris International USD 12,892 0.08

42 Phillips 66 USD 3,013 0.02208 Physicians Realty Trust USD 3,669 0.02222 Piedmont Office Realty Trust – A – USD 4,106 0.03

12 Pinnacle West Capital USD 901 0.0115 Pioneer Natural Resources USD 2,168 0.01






Currency Market

Value

% of

Net

Assets


8 Plains GP Holdings – A – USD 190 0.0042 PNC Financial Services Group USD 4,593 0.03

2 Polaris Industries USD 177 0.0020 PPG Industries USD 1,912 0.0165 PPL USD 2,214 0.0125 Praxair USD 2,907 0.02

4 Priceline Group USD 6,804 0.0431 Principal Financial Group USD 1,754 0.01

212 Procter & Gamble USD 16,224 0.1047 Progressive USD 1,831 0.01

789 Prologis USD 40,578 0.2540 Prudential Financial USD 3,790 0.0226 PS Business Parks USD 3,001 0.0236 Public Service Enterprise Group USD 1,356 0.01

227 Public Storage USD 41,446 0.258 PulteGroup USD 174 0.005 PVH USD 552 0.00

14 Qorvo USD 766 0.0070 QTS Realty Trust – A – USD 3,190 0.02

126 QUALCOMM USD 6,080 0.04144 Quality Care Properties USD 2,308 0.01

10 Quest Diagnostics USD 989 0.0110 Quintiles IMS Holdings USD 764 0.00

6 Ralph Lauren USD 394 0.00121 Ramco-Gershenson Properties Trust USD 1,370 0.01

20 Range Resources USD 409 0.008 Raymond James Financial USD 579 0.00

22 Raytheon USD 3,112 0.02409 Realty Income USD 19,782 0.12

11 Red Hat USD 916 0.01237 Regency Centers USD 12,990 0.08

6 Regeneron Pharmaceuticals USD 2,464 0.02137 Regions Financial USD 1,765 0.01

3 Reinsurance Group of America USD 288 0.0015 Republic Services USD 846 0.01

8 ResMed USD 551 0.00156 Retail Opportunity Investments USD 2,629 0.02365 Retail Properties of America – A – USD 3,907 0.02

97 Rexford Industrial Realty USD 2,335 0.0170 Reynolds American USD 3,984 0.02

183 RLJ Lodging Trust USD 3,187 0.0218 Robert Half International USD 749 0.0011 Rockwell Automation USD 1,508 0.0118 Rockwell Collins USD 1,697 0.0110 Roper Technologies USD 2,044 0.0139 Ross Stores USD 1,973 0.0111 Royal Caribbean Cruises USD 1,071 0.0123 S&P Global USD 2,901 0.0298 Sabra Health Care REIT USD 2,064 0.01

1 Sabre USD 25 0.0051 Salesforce.com USD 3,905 0.02

8 SBA Communications USD 941 0.0115 SCANA USD 866 0.01

112 Schlumberger USD 6,457 0.044 Scripps Networks Interactive – A – USD 238 0.00

32 Seagate Technology USD 1,101 0.0121 Sealed Air USD 840 0.01

2 Seattle Genetics USD 108 0.004 SEI Investments USD 211 0.00

84 Select Income REIT USD 1,779 0.0120 Sempra Energy USD 1,976 0.01


37 Seritage Growth Properties – A – USD 1,366 0.0115 ServiceNow USD 1,365 0.01

6 Sherwin-Williams USD 1,864 0.01323 Shire GBP 15,603 0.10

3 Signature Bank USD 350 0.00459 Simon Property Group USD 65,119 0.40215 Sirius XM Holdings USD 1,033 0.01


8 Snap-on USD 1,103 0.0177 Southern USD 3,217 0.02




79






Currency Market

Value

% of

Net

Assets



16 Stanley Black & Decker USD 2,010 0.019 Staples USD 83 0.00

124 Starbucks USD 6,363 0.0432 State Street USD 2,482 0.0223 Steel Dynamics USD 728 0.00

3 Stericycle USD 217 0.00236 Store Capital USD 4,638 0.03

28 Stryker USD 3,399 0.02168 Summit Hotel Properties USD 2,741 0.02105 Sun Communities USD 8,087 0.05

36 SunTrust Banks USD 1,812 0.015 SVB Financial Group USD 773 0.00

40 Symantec USD 983 0.0173 Synchrony Financial USD 1,917 0.01

9 Synopsys USD 588 0.0037 Sysco USD 1,621 0.0118 T Rowe Price Group USD 1,180 0.01

145 Tanger Factory Outlet Centers USD 3,294 0.0226 Targa Resources USD 1,022 0.0148 Target USD 2,199 0.0170 Taubman Centers USD 3,651 0.0213 TD Ameritrade Holding USD 498 0.00

2 Teleflex USD 362 0.0067 Terreno Realty USD 1,964 0.0110 Tesla USD 3,124 0.0212 Tesoro USD 953 0.0185 Texas Instruments USD 5,725 0.0431 Thermo Fisher Scientific USD 4,793 0.0396 Tier REIT USD 1,548 0.0114 Tiffany & Co USD 1,126 0.0165 Time Warner USD 5,687 0.0350 TJX Cos USD 3,174 0.0220 T-Mobile USD 1,087 0.01

3 Toll Brothers USD 120 0.005 Torchmark USD 362 0.00

18 Total System Services USD 913 0.0114 Tractor Supply USD 689 0.00

3 TransDigm Group USD 774 0.0027 Travelers Cos USD 2,945 0.0225 Trimble Navigation USD 778 0.00

9 TripAdvisor USD 287 0.0080 Twenty-First Century Fox – A – USD 1,989 0.0148 Twenty-First Century Fox – B – USD 1,165 0.0161 Twitter USD 955 0.0118 Tyson Foods – A – USD 998 0.01

399 UDR USD 13,625 0.0812 UGI USD 523 0.00

4 Ulta Salon Cosmetics & Fragrance USD 1,013 0.0116 Under Armour – A – USD 297 0.00

7 Under Armour – C – USD 121 0.0064 Union Pacific USD 6,100 0.04

2 United Continental Holdings USD 114 0.0062 United Parcel Service – B – USD 5,992 0.0412 United Rentals USD 1,167 0.0165 United Technologies USD 6,996 0.04

1 United Therapeutics USD 145 0.0081 UnitedHealth Group USD 13,164 0.0810 Universal Health Services – B – USD 1,043 0.0126 Unum Group USD 1,055 0.01


4 Vail Resorts USD 681 0.0039 Valero Energy USD 2,309 0.0117 Vantiv – A – USD 942 0.0110 Varian Medical Systems USD 935 0.01

8 VCA USD 629 0.0010 Veeva Systems – A – USD 548 0.00

535 Ventas USD 32,599 0.201,464 VEREIT USD 10,450 0.06

10 VeriSign USD 829 0.0119 Verisk Analytics USD 1,393 0.01

337 Verizon Communications USD 13,208 0.0818 Vertex Pharmaceuticals USD 2,033 0.0126 VF USD 1,293 0.0125 Viacom – B – USD 748 0.00

152 Visa – A – USD 12,531 0.08






Currency Market

Value

% of

Net

Assets




82 Walgreens Boots Alliance USD 5,610 0.03125 Wal-Mart Stores USD 8,325 0.05127 Walt Disney USD 11,844 0.07239 Washington Prime Group USD 1,756 0.01102 Washington Real Estate Investment Trust USD 2,860 0.02

41 Waste Management USD 2,615 0.028 Waters USD 1,254 0.01

21 WEC Energy Group USD 1,122 0.01159 Weingarten Realty Investors USD 4,196 0.03397 Wells Fargo & Co USD 19,277 0.12553 Welltower USD 36,309 0.22

15 Westar Energy USD 715 0.0026 Western Digital USD 2,028 0.0153 Western Union USD 890 0.0128 WestRock USD 1,369 0.0155 Weyerhaeuser USD 1,622 0.01

7 Whirlpool USD 1,211 0.0135 Whole Foods Market USD 1,287 0.0176 Williams Cos USD 2,028 0.0113 Workday – A – USD 1,090 0.01

144 WP Carey USD 8,336 0.0513 WR Berkley USD 816 0.01

3 WW Grainger USD 417 0.0012 Wyndham Worldwide USD 1,046 0.01

9 Wynn Resorts USD 1,040 0.0137 Xcel Energy USD 1,498 0.0123 Xerox USD 589 0.0028 Xilinx USD 1,553 0.0119 Xylem USD 944 0.0125 Yum! Brands USD 1,606 0.0122 Zayo Group Holdings USD 596 0.00

2 Zillow Group – C – USD 74 0.0019 Zimmer Biomet Holdings USD 2,105 0.0119 Zions Bancorporation USD 745 0.0045 Zoetis USD 2,467 0.02

2,468,779 15.18


2,030 Amundi ETF Government Bond EuroMTSBroad Investment Grade 10-15 ETF – C – EUR 547,146 3.36


2,580 Lyxor UCITS ETF EuroMTS 15+YInvestment Grade EUR 538,033 3.31

1,405,550 8.64Ireland

90,200 BlackRock Euro Investment GradeCorporate Bond Index Fund EUR 1,154,650 7.10

10,400 iShares JP Morgan USD EM Bond EURHedged UCITS ETF EUR 1,054,768 6.48

7,280 iShares USD High Yield Bond UCITS ETF EUR 669,469 4.127,190 Source Physical Gold P-ETC USD 765,649 4.714,100 Vanguard Emerging Markets Stock Index

Fund EUR 536,553 3.306,420 Vanguard Investment Series - Global

Small-Cap Index Fund EUR 993,753 6.112,400 Vanguard Investment Series - Pacific

Ex-Japan Stock Index Fund EUR 316,605 1.95

5,491,447 33.77


80






Currency Market

Value

% of

Net

Assets

OPEN ENDED FUNDS EUR %Luxembourg

2,870 Amundi Index Solutions - Amundi IndexMSCI Japan EUR 311,022 1.91

21 BNP Paribas Easy JPM EMU EUR 2,867,495 17.64


INVESTMENTS 16,121,099 99.14



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets1 EURO STOXX 50 Index Future 09/17 EUR 6,697 (207) (0.00)0 FTSE 100 Index Future 09/17 GBP 5,634 (132) (0.00)0 S&P 500 E-mini Index Future 09/17 USD 17,194 (46) (0.00)0 S&P 500 Index Future 09/17 USD 4,587 (12) (0.00)0 Swiss Market Index Future 09/17 CHF 2,251 (6) (0.00)0 Topix Index Future 09/17 JPY 4,073 15 0.00







81






Currency Market

Value

% of

Net

Assets


7 MercadoLibre USD 1,458 0.01

1,458 0.01Australia

1,693 BHP Billiton GBP 22,669 0.12570 BWP Trust AUD 1,143 0.01354 Charter Hall Retail REIT AUD 969 0.00



756 Shopping Centres Australasia PropertyGroup AUD 1,114 0.01


113,287 0.63Austria

62 ANDRITZ EUR 3,255 0.02140 BUWOG EUR 3,527 0.02202 Erste Group Bank EUR 6,782 0.04

1,101 IMMOFINANZ EUR 2,202 0.01104 OMV EUR 4,742 0.03150 Raiffeisen Bank International EUR 3,322 0.02

64 voestalpine EUR 2,591 0.01

26,421 0.15Belgium


25 Cofinimmo EUR 2,690 0.0150 Colruyt EUR 2,292 0.0167 Groupe Bruxelles Lambert EUR 5,634 0.03

213 KBC Group EUR 14,122 0.0896 Proximus EUR 2,940 0.0268 Solvay EUR 8,007 0.0422 Telenet Group Holding EUR 1,230 0.01

120 UCB EUR 7,260 0.0464 Umicore EUR 3,870 0.02

110,668 0.61Bermuda




5,696 0.03Brazil

1,149 BR Malls Participacoes BRL 3,635 0.0298 Iguatemi Empresa de Shopping Centers BRL 854 0.01

125 Multiplan Empreendimentos Imobiliarios BRL 2,157 0.01

6,646 0.04Canada








45,224 0.25






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile


3,646 0.02Denmark



625 Danske Bank DKK 21,063 0.12125 DONG Energy DKK 4,930 0.03161 DSV DKK 8,665 0.05

49 Genmab DKK 9,079 0.0570 H Lundbeck DKK 3,452 0.0299 ISS DKK 3,416 0.02

1,425 Novo Nordisk – B – DKK 53,437 0.30178 Novozymes – B – DKK 6,808 0.04

86 Pandora DKK 7,005 0.04877 TDC DKK 4,466 0.02

25 Tryg DKK 480 0.00188 Vestas Wind Systems DKK 15,181 0.08121 William Demant Holding DKK 2,756 0.01

173,052 0.96Finland

81 Elisa EUR 2,739 0.02310 Fortum EUR 4,259 0.02286 Kone – B – EUR 12,742 0.07108 Metso EUR 3,280 0.02

85 Neste EUR 2,926 0.024,694 Nokia EUR 25,138 0.14

117 Nokian Renkaat EUR 4,252 0.0284 Orion – B – EUR 4,683 0.03

376 Sampo – A – EUR 16,867 0.09383 Stora Enso – R – EUR 4,329 0.02452 UPM-Kymmene EUR 11,293 0.06123 Wartsila EUR 6,343 0.04

98,851 0.55France


311 Air Liquide EUR 33,618 0.19466 Airbus EUR 33,572 0.19156 Alstom EUR 4,779 0.03

52 Arkema EUR 4,868 0.0383 Atos EUR 10,235 0.06

1,508 AXA EUR 36,115 0.20909 BNP Paribas EUR 57,330 0.32464 Bollore EUR 1,849 0.01181 Bouygues EUR 6,665 0.04225 Bureau Veritas EUR 4,354 0.02119 Capgemini EUR 10,777 0.06455 Carrefour EUR 10,088 0.06

68 Casino Guichard Perrachon EUR 3,519 0.02424 Cie de Saint-Gobain EUR 19,818 0.11145 Cie Generale des Etablissements Michelin EUR 16,879 0.09

79 CNP Assurances EUR 1,552 0.01854 Credit Agricole EUR 12,027 0.07457 Danone EUR 30,051 0.17

2 Dassault Aviation EUR 2,869 0.0288 Dassault Systemes EUR 6,914 0.04

175 Edenred EUR 3,999 0.0262 Eiffage EUR 4,957 0.03

411 Electricite de France EUR 3,896 0.021,347 Engie EUR 17,797 0.10

176 Essilor International EUR 19,596 0.1117 Eurazeo EUR 1,149 0.01


443 Groupe Eurotunnel EUR 4,136 0.0226 Hermes International EUR 11,457 0.0656 ICADE EUR 4,124 0.0224 Iliad EUR 5,054 0.0330 Imerys EUR 2,319 0.0146 Ingenico Group EUR 3,634 0.0238 Ipsen EUR 4,578 0.0271 JCDecaux EUR 2,035 0.01


82






Currency Market

Value

% of

Net

Assets



63 Lagardere EUR 1,754 0.01201 Legrand EUR 12,281 0.07203 L’Oreal EUR 36,957 0.20219 LVMH Moet Hennessy Louis Vuitton EUR 47,768 0.26869 Natixis EUR 5,108 0.03

1,691 Orange EUR 23,491 0.13180 Pernod Ricard EUR 21,105 0.12430 Peugeot EUR 7,504 0.04166 Publicis Groupe EUR 10,872 0.06

23 Remy Cointreau EUR 2,321 0.01147 Renault EUR 11,623 0.06257 Rexel EUR 3,677 0.02252 Safran EUR 20,187 0.11949 Sanofi EUR 79,448 0.44435 Schneider Electric EUR 29,245 0.16169 SCOR EUR 5,862 0.03

25 SEB EUR 3,923 0.0227 Societe BIC EUR 2,831 0.02



1,902 TOTAL EUR 82,335 0.46194 Unibail-Rodamco EUR 42,877 0.24

14 Unibail-Rodamco (traded in Netherlands) EUR 3,139 0.02177 Valeo EUR 10,436 0.06442 Veolia Environnement EUR 8,181 0.04388 Vinci EUR 28,958 0.16790 Vivendi EUR 15,401 0.08

15 Wendel EUR 1,995 0.01189 Zodiac Aerospace EUR 4,485 0.02

1,030,852 5.71Germany



46 Bayerische Motoren Werke – Pref – EUR 3,314 0.0278 Beiersdorf EUR 7,177 0.04

128 Brenntag EUR 6,488 0.04902 Commerzbank EUR 9,412 0.05

84 Continental EUR 15,976 0.0991 Covestro EUR 5,760 0.03

755 Daimler EUR 47,856 0.271,580 Deutsche Bank EUR 24,533 0.14



2,633 Deutsche Telekom EUR 41,396 0.23735 Deutsche Wohnen EUR 24,622 0.14

1,861 E.ON EUR 15,348 0.0994 Evonik Industries EUR 2,620 0.0135 Fraport Frankfurt Airport Services

Worldwide EUR 2,692 0.02318 Fresenius & Co EUR 23,850 0.13179 Fresenius Medical Care & Co EUR 15,099 0.08

66 FUCHS PETROLUB – Pref – EUR 3,140 0.02155 GEA Group EUR 5,555 0.03

42 Hannover Rueck EUR 4,385 0.02126 HeidelbergCement EUR 10,679 0.06

82 Henkel & Co EUR 8,660 0.05153 Henkel & Co – Pref – EUR 18,432 0.10


976 Infineon Technologies EUR 18,034 0.10116 Innogy EUR 4,013 0.02194 K+S EUR 4,358 0.02

87 LANXESS EUR 5,749 0.0375 LEG Immobilien EUR 6,214 0.03

142 Linde EUR 23,543 0.1330 MAN EUR 2,805 0.02






Currency Market

Value

% of

Net

Assets




71 OSRAM Licht EUR 4,952 0.03104 Porsche Automobil Holding – Pref – EUR 5,121 0.03195 ProSiebenSat.1 Media EUR 7,133 0.04364 RWE EUR 6,347 0.04801 SAP EUR 73,218 0.41

57 Schaeffler – Pref – EUR 711 0.00605 Siemens EUR 72,849 0.40117 Symrise EUR 7,247 0.04166 TAG Immobilien EUR 2,285 0.01351 Telefonica Deutschland Holding EUR 1,534 0.01312 thyssenkrupp EUR 7,757 0.04447 TUI GBP 5,698 0.03




964,923 5.35Hong Kong


840 Hysan Development HKD 3,514 0.022,911 Link REIT HKD 19,417 0.114,246 Sino Land HKD 6,104 0.031,532 Swire Properties HKD 4,431 0.021,638 Wharf Holdings HKD 11,904 0.071,137 Wheelock & Co HKD 7,524 0.04

80,614 0.45Ireland

91 Accenture – A – USD 9,918 0.0590 AerCap Holdings USD 3,644 0.0212 Alkermes USD 615 0.0016 Allegion USD 1,128 0.01




74 Paddy Power Betfair EUR 6,892 0.0421 Perrigo USD 1,411 0.01

154 Ryanair Holdings EUR 2,765 0.02

85,705 0.47Italy

1,046 Assicurazioni Generali EUR 15,079 0.08363 Atlantia EUR 8,945 0.05

6,542 Enel EUR 30,709 0.172,046 Eni EUR 26,929 0.15


947 Intesa Sanpaolo – RSP – EUR 2,458 0.01117 Luxottica Group EUR 5,901 0.03350 Mediobanca EUR 3,025 0.02443 Poste Italiane EUR 2,655 0.02210 Prysmian EUR 5,401 0.03106 Recordati EUR 3,772 0.02516 Saipem EUR 1,669 0.01

1,929 Snam EUR 7,361 0.047,878 Telecom Italia EUR 6,365 0.045,567 Telecom Italia – RSP – EUR 3,590 0.021,231 Terna Rete Elettrica Nazionale EUR 5,818 0.031,610 UniCredit EUR 26,324 0.151,217 UnipolSai Assicurazioni EUR 2,326 0.01

194,481 1.08Japan




83






Currency Market

Value

% of

Net

Assets



755 Hulic JPY 6,755 0.041 Hulic REIT JPY 1,717 0.010 Industrial & Infrastructure Fund Investment JPY 1,771 0.015 Invincible Investment JPY 1,816 0.011 Japan Excellent JPY 1,472 0.015 Japan Hotel REIT Investment JPY 2,976 0.021 Japan Logistics Fund JPY 2,318 0.011 Japan Prime Realty Investment JPY 3,614 0.022 Japan Real Estate Investment JPY 7,690 0.042 Japan Rental Housing Investments JPY 1,537 0.013 Japan Retail Fund Investment JPY 5,599 0.031 Kenedix Office Investment JPY 2,669 0.021 Kenedix Retail REIT JPY 1,130 0.012 LaSalle Logiport REIT JPY 1,350 0.01






200,808 1.11Jersey


6,004 0.03Jordan

117 Hikma Pharmaceuticals GBP 1,964 0.01



146 Grand City Properties EUR 2,558 0.0129 Millicom International Cellular – SDR – SEK 1,496 0.0139 RTL Group EUR 2,598 0.02


33,588 0.19Mexico



1,628 Aegon EUR 7,281 0.04214 Akzo Nobel EUR 16,257 0.09359 Altice – A – EUR 7,255 0.04

86 Altice – B – EUR 1,744 0.01300 ASML Holding EUR 34,263 0.19

93 Boskalis Westminster EUR 2,629 0.017 Core Laboratories USD 609 0.00

101 EXOR EUR 4,806 0.0353 Gemalto EUR 2,809 0.02

194 Heineken EUR 16,494 0.0989 Heineken Holding EUR 7,124 0.04

3,120 ING Groep EUR 47,109 0.261,086 Koninklijke Ahold Delhaize EUR 18,182 0.10


748 Koninklijke Philips EUR 23,252 0.1348 Koninklijke Vopak EUR 1,939 0.01

232 NN Group EUR 7,209 0.04278 NXP Semiconductors USD 26,707 0.15155 QIAGEN EUR 4,523 0.02

71 Randstad Holding EUR 3,639 0.023,562 Royal Dutch Shell – A – GBP 82,564 0.46






Currency Market

Value

% of

Net

Assets




413,728 2.29Norway

828 DNB NOK 12,313 0.07203 Gjensidige Forsikring NOK 3,029 0.02386 Marine Harvest NOK 5,768 0.03

1,149 Norsk Hydro NOK 5,566 0.03541 Orkla NOK 4,807 0.03


956 Statoil NOK 13,847 0.08592 Telenor NOK 8,578 0.05143 Yara International NOK 4,679 0.02



7,612 0.04Portugal

1,746 EDP - Energias de Portugal EUR 4,999 0.03415 Galp Energia EUR 5,505 0.03152 Jeronimo Martins EUR 2,592 0.01

13,096 0.07Romania


3,320 0.02Singapore






30,528 0.17Spain




353 Amadeus IT Group EUR 18,478 0.105,207 Banco Bilbao Vizcaya Argentaria EUR 37,829 0.214,523 Banco de Sabadell EUR 8,046 0.05

11,861 Banco Santander EUR 68,697 0.381,098 Bankia EUR 4,647 0.03

445 Bankinter EUR 3,590 0.023,042 CaixaBank EUR 12,717 0.07

410 Distribuidora Internacional de Alimentacion EUR 2,237 0.01155 Enagas EUR 3,805 0.02205 Endesa EUR 4,137 0.02447 Ferrovial EUR 8,686 0.05242 Gamesa Technologica EUR 4,526 0.03235 Gas Natural SDG EUR 4,812 0.03214 Grifols EUR 5,216 0.03

4,677 Iberdrola EUR 32,423 0.18877 Industria de Diseno Textil EUR 29,490 0.16323 Inmobiliaria Colonial EUR 2,462 0.01481 Mapfre EUR 1,471 0.01411 Merlin Properties Socimi EUR 4,551 0.03328 Red Electrica EUR 6,005 0.03

1,008 Repsol EUR 13,504 0.08


84






Currency Market

Value

% of

Net

Assets


1,008 Repsol – Rights – EUR 403 0.003,621 Telefonica EUR 32,727 0.18

337,041 1.87Sweden


15 Autoliv USD 1,403 0.01177 Boliden SEK 4,236 0.02325 Castellum SEK 4,180 0.02219 Electrolux – B – SEK 6,277 0.03439 Essity – B – SEK 10,518 0.06178 Fabege SEK 2,991 0.02115 Fastighets Balder – B – SEK 2,428 0.01

89 Getinge – B – SEK 1,529 0.01805 Hennes & Mauritz – B – SEK 17,561 0.10185 Hexagon – B – SEK 7,690 0.04135 Hufvudstaden – A – SEK 1,962 0.01285 Husqvarna – B – SEK 2,479 0.01

41 ICA Gruppen SEK 1,324 0.0182 Industrivarden – C – SEK 1,732 0.01

355 Investor – B – SEK 14,983 0.08146 Kinnevik – B – SEK 3,915 0.02

40 L E Lundbergforetagenn – B – SEK 2,791 0.02153 Lundin Petroleum SEK 2,576 0.01

2,402 Nordea Bank SEK 26,766 0.15935 Sandvik SEK 12,884 0.07167 Securitas – B – SEK 2,472 0.01

1,288 Skandinaviska Enskilda Banken – A – SEK 13,640 0.08314 Skanska – B – SEK 6,526 0.04320 SKF – B – SEK 5,673 0.03

1,295 Svenska Handelsbanken – A – SEK 16,229 0.09668 Swedbank – A – SEK 14,261 0.08135 Swedish Match SEK 4,166 0.02344 Tele2 – B – SEK 3,158 0.02

2,602 Telefonaktiebolaget LM Ericsson – B – SEK 16,296 0.092,310 Telia SEK 9,315 0.051,317 Volvo – B – SEK 19,665 0.11


1,603 ABB CHF 34,760 0.19138 Adecco Group CHF 9,199 0.05

39 Baloise Holding CHF 5,285 0.031 Barry Callebaut CHF 1,072 0.011 Chocoladefabriken Lindt & Spruengli CHF 5,284 0.030 Chocoladefabriken Lindt & Spruengli –

REG – CHF 4,590 0.0364 Chubb USD 8,163 0.05


1,989 Credit Suisse Group CHF 25,240 0.1423 Dufry CHF 3,246 0.02

8 EMS-Chemie Holding CHF 5,385 0.0312 Garmin USD 548 0.0031 Geberit CHF 12,566 0.07

7 Givaudan CHF 12,469 0.079,973 Glencore GBP 32,620 0.18

175 Julius Baer Group CHF 8,081 0.0436 Kuehne & Nagel International CHF 5,239 0.03


2,487 Nestle CHF 190,034 1.051,796 Novartis CHF 131,230 0.73

35 Pargesa Holding CHF 2,362 0.0115 Partners Group Holding CHF 8,009 0.0448 PSP Swiss Property CHF 3,921 0.02

565 Roche Holding CHF 126,345 0.7036 Schindler Holding CHF 6,711 0.0419 Schindler Holding – REG – CHF 3,382 0.02

4 SGS CHF 9,307 0.052 Sika CHF 8,826 0.05


10 Straumann Holding CHF 4,832 0.0327 Swatch Group CHF 8,750 0.0530 Swatch Group – REG – CHF 1,907 0.01






Currency Market

Value

% of

Net

Assets




2,943 UBS Group CHF 43,753 0.2428 Vifor Pharma CHF 2,680 0.0120 Weatherford International USD 68 0.00

209 Wolseley GBP 11,248 0.06121 Zurich Insurance Group CHF 30,967 0.17


898 3i Group GBP 9,234 0.05753 Aberdeen Asset Management GBP 2,591 0.01173 Admiral Group GBP 3,940 0.02984 Anglo American GBP 11,477 0.06

36 Aon USD 4,156 0.02461 Ashtead Group GBP 8,343 0.05249 Associated British Foods GBP 8,328 0.05

1,018 AstraZeneca GBP 59,519 0.33818 Auto Trader Group GBP 3,538 0.02


13,646 Barclays GBP 31,511 0.18941 Barratt Developments GBP 6,041 0.03107 Berkeley Group Holdings GBP 3,942 0.02

15,734 BP GBP 79,344 0.441,500 British American Tobacco GBP 89,392 0.502,040 British Land GBP 14,065 0.087,177 BT Group GBP 24,092 0.13




1,206 Compass Group GBP 22,242 0.121,189 ConvaTec Group GBP 4,323 0.02


151 Derwent London GBP 4,576 0.032,038 Diageo GBP 52,653 0.291,123 Direct Line Insurance Group GBP 4,545 0.03

905 Dixons Carphone GBP 2,922 0.02164 easyJet GBP 2,545 0.01800 Experian GBP 14,342 0.08730 Fiat Chrysler Automobiles EUR 6,736 0.04

1,315 G4S GBP 4,889 0.031,577 GKN GBP 5,854 0.033,885 GlaxoSmithKline GBP 72,361 0.40

423 Great Portland Estates GBP 2,877 0.021,682 Hammerson GBP 11,009 0.06

167 Hargreaves Lansdown GBP 2,477 0.0115,977 HSBC Holdings GBP 129,499 0.72

68 IHS Markit USD 2,610 0.01279 IMI GBP 3,791 0.02780 Imperial Brands GBP 30,623 0.17441 Inmarsat GBP 3,864 0.02123 InterContinental Hotels Group GBP 5,968 0.03646 International Consolidated Airlines Group EUR 4,489 0.03118 Intertek Group GBP 5,682 0.03

1,800 Intu Properties GBP 5,516 0.033,471 ITV GBP 7,171 0.041,339 J Sainsbury GBP 3,839 0.02

160 Johnson Matthey GBP 5,244 0.03101 Kennedy Wilson Europe Real Estate GBP 1,282 0.01

1,521 Kingfisher GBP 5,208 0.031,601 Land Securities Group GBP 18,469 0.104,495 Legal & General Group GBP 13,223 0.07

54 Liberty Global – A – USD 1,511 0.0179 Liberty Global – C – USD 2,170 0.01



85






Currency Market

Value

% of

Net

Assets






262 Persimmon GBP 6,678 0.04218 Petrofac GBP 1,096 0.01153 Provident Financial GBP 4,250 0.02

2,015 Prudential GBP 40,413 0.22535 Reckitt Benckiser Group GBP 47,425 0.26819 RELX (traded in Netherlands) EUR 14,739 0.08916 RELX (traded in United Kingdom) GBP 17,317 0.10995 Rio Tinto GBP 36,751 0.20

1,371 Rolls-Royce Holdings GBP 13,915 0.083,007 Royal Bank of Scotland Group GBP 8,465 0.05

763 Royal Mail GBP 3,660 0.02641 RSA Insurance Group GBP 4,494 0.03916 Sage Group GBP 7,175 0.04111 Schroders GBP 3,915 0.02

2,097 Segro GBP 11,681 0.07224 Severn Trent GBP 5,567 0.03229 Shaftesbury GBP 2,540 0.01815 Sky GBP 9,224 0.05654 Smith & Nephew GBP 9,876 0.06365 Smiths Group GBP 6,642 0.04858 SSE GBP 14,193 0.08430 St James’s Place GBP 5,789 0.03

2,784 Standard Chartered GBP 24,646 0.141,828 Standard Life GBP 8,307 0.05

429 Tate & Lyle GBP 3,235 0.023,021 Taylor Wimpey GBP 6,062 0.03

83 TechnipFMC USD 1,982 0.016,091 Tesco GBP 11,709 0.07

0 TP ICAP GBP 0 0.00213 Travis Perkins GBP 3,524 0.02

1,516 Tritax Big Box REIT GBP 2,525 0.011,032 Unilever GBP 48,852 0.271,324 Unilever – CVA – EUR 63,967 0.35

299 UNITE Group GBP 2,207 0.01630 United Utilities Group GBP 6,221 0.03


15 Willis Towers Watson USD 1,968 0.012,049 Wm Morrison Supermarkets GBP 5,628 0.031,302 Worldpay Group GBP 4,669 0.031,086 WPP GBP 19,958 0.11


88 3M USD 15,996 0.09240 Abbott Laboratories USD 10,243 0.06238 AbbVie USD 15,132 0.08113 Acadia Realty Trust USD 2,749 0.02100 Activision Blizzard USD 5,041 0.03

6 Acuity Brands USD 1,147 0.0172 Adobe Systems USD 8,942 0.0512 Advance Auto Parts USD 1,262 0.01

151 Advanced Micro Devices USD 1,650 0.01124 AES USD 1,209 0.01

55 Aetna USD 7,345 0.049 Affiliated Managers Group USD 1,328 0.01

51 Aflac USD 3,452 0.028 AGCO USD 502 0.00

54 Agilent Technologies USD 2,814 0.0263 AGNC Investment USD 1,183 0.0143 Agree Realty USD 1,734 0.0132 Air Products & Chemicals USD 4,067 0.0233 Akamai Technologies USD 1,444 0.0121 Albemarle USD 1,957 0.01

128 Alexandria Real Estate Equities USD 13,543 0.0838 Alexion Pharmaceuticals USD 4,086 0.0213 Align Technology USD 1,654 0.01

3 Alleghany USD 1,558 0.0146 Allergan USD 9,903 0.05






Currency Market

Value

% of

Net

Assets


5 Alliance Data Systems USD 1,070 0.0143 Alliant Energy USD 1,505 0.0158 Allstate USD 4,501 0.0252 Ally Financial USD 948 0.0143 Alphabet – A – USD 35,061 0.1945 Alphabet – C – USD 36,028 0.20


1 AMERCO USD 351 0.0034 Ameren USD 1,629 0.0132 American Airlines Group USD 1,390 0.0146 American Assets Trust USD 1,598 0.01

179 American Campus Communities USD 7,413 0.0475 American Electric Power USD 4,543 0.03

109 American Express USD 8,065 0.0412 American Financial Group USD 1,077 0.01

319 American Homes 4 Rent – A – USD 6,319 0.04142 American International Group USD 7,760 0.04

58 American Tower USD 6,708 0.0425 American Water Works USD 1,720 0.0122 Ameriprise Financial USD 2,420 0.0117 AmerisourceBergen USD 1,408 0.0134 AMETEK USD 1,791 0.01

103 Amgen USD 15,518 0.0951 Amphenol – A – USD 3,331 0.0285 Anadarko Petroleum USD 3,395 0.0254 Analog Devices USD 3,704 0.0297 Annaly Capital Management USD 1,020 0.0117 Ansys USD 1,766 0.0117 Antero Resources USD 320 0.0038 Anthem USD 6,291 0.03


213 Apartment Investment & Management – A – USD 8,041 0.04748 Apple USD 94,413 0.52294 Apple Hospitality REIT USD 4,816 0.03144 Applied Materials USD 5,225 0.03

43 Aramark USD 1,561 0.0180 Archer-Daniels-Midland USD 2,907 0.0267 Arconic USD 1,334 0.01

8 Arista Networks USD 1,007 0.014 Arrow Electronics USD 272 0.00

33 Arthur J Gallagher & Co USD 1,673 0.01114 Ashford Hospitality Trust USD 606 0.00


17 Atmos Energy USD 1,260 0.0126 Autodesk USD 2,291 0.0158 Automatic Data Processing USD 5,229 0.03




1,446 Bank of America USD 30,763 0.17139 Bank of New York Mellon USD 6,237 0.03

60 Baxter International USD 3,198 0.02116 BB&T USD 4,628 0.03

33 Becton Dickinson & Co USD 5,632 0.0329 Bed Bath & Beyond USD 760 0.00



60 Broadcom USD 12,200 0.0721 Broadridge Financial Solutions USD 1,359 0.01



86






Currency Market

Value

% of

Net

Assets


41 Brown-Forman – B – USD 1,762 0.0126 Bunge USD 1,725 0.0159 CA USD 1,780 0.0178 Cabot Oil & Gas USD 1,704 0.0125 Cadence Design Systems USD 731 0.00

135 Camden Property Trust USD 10,108 0.0638 Campbell Soup USD 1,731 0.0169 Capital One Financial USD 4,991 0.0346 Cardinal Health USD 3,109 0.02

116 Care Capital Properties USD 2,712 0.0293 CareTrust REIT USD 1,510 0.0137 CarMax USD 2,018 0.01

147 Carnival (traded in United Kingdom) GBP 8,526 0.0548 Carnival (traded in United States) USD 2,774 0.0286 Caterpillar USD 8,122 0.04

260 CBL & Associates Properties USD 1,923 0.0117 CBOE Holdings USD 1,341 0.0157 CBRE Group – A – USD 1,815 0.0160 CBS – B – USD 3,360 0.0224 CDK Global USD 1,297 0.0114 CDW USD 760 0.0026 Celanese – A – USD 2,155 0.01

114 Celgene USD 12,946 0.0729 Centene USD 2,006 0.0177 CenterPoint Energy USD 1,850 0.0158 CenturyLink USD 1,213 0.0133 Cerner USD 1,931 0.0118 CF Industries Holdings USD 450 0.0015 CH Robinson Worldwide USD 908 0.01

172 Charles Schwab USD 6,487 0.0431 Charter Communications – A – USD 9,161 0.0554 Chatham Lodging Trust USD 945 0.0118 Cheniere Energy USD 784 0.0077 Chesapeake Lodging Trust USD 1,652 0.01


54 Church & Dwight USD 2,454 0.0133 Cigna USD 4,864 0.0316 Cimarex Energy USD 1,304 0.0126 Cincinnati Financial USD 1,666 0.0116 Cintas USD 1,782 0.01


394 Citigroup USD 23,131 0.1357 Citizens Financial Group USD 1,791 0.0129 Citrix Systems USD 2,038 0.0115 Clorox USD 1,750 0.0156 CME Group USD 6,107 0.0353 CMS Energy USD 2,138 0.0147 Coach USD 1,950 0.01

600 Coca-Cola USD 23,575 0.1378 Cognizant Technology Solutions – A – USD 4,518 0.03

120 Colgate-Palmolive USD 7,792 0.0433 Colony NorthStar – A – USD 409 0.00


17 Comerica USD 1,067 0.0132 CommScope Holding USD 1,078 0.0150 Conagra Brands USD 1,579 0.0124 Concho Resources USD 2,605 0.01


4 Cooper Cos USD 929 0.01121 Corning USD 3,193 0.02125 Corporate Office Properties Trust USD 3,825 0.02

2 CoStar Group USD 565 0.0062 Costco Wholesale USD 8,631 0.0591 Coty – A – USD 1,502 0.01










Currency Market

Value

% of

Net

Assets


119 CyrusOne USD 5,816 0.03100 Danaher USD 7,375 0.04

22 Darden Restaurants USD 1,774 0.0131 DaVita USD 1,767 0.01


42 Deere & Co USD 4,523 0.0342 Dell Technologies – V – USD 2,250 0.0136 Delta Air Lines USD 1,712 0.0124 Dentsply Sirona USD 1,347 0.0164 Devon Energy USD 1,801 0.01



9 Discovery Communications – C – USD 192 0.0028 DISH Network – A – USD 1,523 0.0132 Dollar General USD 2,025 0.0140 Dollar Tree USD 2,466 0.0182 Dominion Energy USD 5,522 0.03


26 Dover USD 1,807 0.01164 Dow Chemical USD 9,083 0.05

59 DR Horton USD 1,800 0.0131 Dr Pepper Snapple Group USD 2,446 0.0122 DTE Energy USD 2,016 0.0195 Duke Energy USD 6,984 0.04


43 DXC Technology USD 2,882 0.0223 E*TRADE Financial USD 778 0.0024 East West Bancorp USD 1,229 0.0133 Easterly Government Properties USD 606 0.0041 EastGroup Properties USD 3,001 0.0228 Eastman Chemical USD 2,062 0.0173 Eaton USD 4,953 0.03

5 Eaton Vance USD 203 0.00146 eBay USD 4,461 0.02

35 Ecolab USD 4,102 0.0241 Edison International USD 2,815 0.02

106 Education Realty Trust USD 3,611 0.0225 Edwards Lifesciences USD 2,637 0.01

126 EI du Pont de Nemours & Co USD 8,922 0.0539 Electronic Arts USD 3,630 0.02

146 Eli Lilly & Co USD 10,526 0.06106 Emerson Electric USD 5,529 0.03155 Empire State Realty Trust – A – USD 2,816 0.02

30 Entergy USD 2,005 0.0111 Envision Healthcare USD 596 0.0077 EOG Resources USD 6,110 0.0396 EPR Properties USD 6,077 0.0314 EQT USD 730 0.0014 Equifax USD 1,650 0.0111 Equinix USD 4,165 0.02

166 Equity Commonwealth USD 4,594 0.03107 Equity LifeStyle Properties USD 8,072 0.04540 Equity Residential USD 31,176 0.17

96 Essex Property Trust USD 21,664 0.1236 Estee Lauders Cos – A – USD 3,027 0.0238 Eversource Energy USD 2,042 0.01

140 Exelon USD 4,429 0.0216 Expedia USD 2,062 0.0130 Expeditors International of Washington USD 1,502 0.0182 Express Scripts Holding USD 4,609 0.03


13 F5 Networks USD 1,405 0.01342 Facebook – A – USD 45,256 0.25

36 Fastenal USD 1,368 0.01110 Federal Realty Investment Trust USD 12,162 0.07




87






Currency Market

Value

% of

Net

Assets


167 First Industrial Realty Trust USD 4,193 0.0228 First Republic Bank USD 2,422 0.0153 FirstEnergy USD 1,367 0.0126 Fiserv USD 2,825 0.0216 FleetCor Technologies USD 2,069 0.01

103 Flex USD 1,478 0.0115 FLIR Systems USD 446 0.00

6 Flowserve USD 225 0.0023 Fluor USD 937 0.0125 FMC USD 1,574 0.0146 FNF Group USD 1,826 0.0126 Foot Locker USD 1,107 0.01


28 Fortinet USD 906 0.0158 Fortive USD 3,236 0.0229 Fortune Brands Home & Security USD 1,652 0.0141 Franklin Resources USD 1,604 0.01


2 Gap USD 47 0.0016 Gartner USD 1,712 0.01

1,282 General Electric USD 30,369 0.1790 General Mills USD 4,394 0.02



81 Global Net Lease USD 1,576 0.0129 Global Payments USD 2,297 0.0155 Goldman Sachs Group USD 10,712 0.0627 Goodyear Tire & Rubber USD 838 0.0095 Government Properties Income Trust USD 1,523 0.01

205 Gramercy Property Trust USD 5,330 0.0342 H&R Block USD 1,136 0.01

135 Halliburton USD 5,070 0.0359 Hanesbrands USD 1,196 0.0118 Harley-Davidson USD 847 0.0012 Harris USD 1,178 0.0150 Hartford Financial Services Group USD 2,308 0.0114 Hasbro USD 1,368 0.0138 HCA Healthcare USD 2,890 0.02



6 Helmerich & Payne USD 305 0.0013 Henry Schein USD 2,152 0.0137 Hersha Hospitality Trust USD 600 0.0018 Hershey USD 1,651 0.0154 Hess USD 2,065 0.01



47 Hologic USD 1,881 0.01174 Home Depot USD 23,363 0.13106 Honeywell International USD 12,388 0.07

26 Hormel Foods USD 783 0.0096 Host Hotels & Resorts USD 1,536 0.01


20 Humana USD 4,284 0.02115 Huntington Bancshares USD 1,364 0.01

4 Huntington Ingalls Industries USD 583 0.0013 IDEX USD 1,256 0.0117 IDEXX Laboratories USD 2,386 0.0146 Illinois Tool Works USD 5,759 0.0325 Illumina USD 3,728 0.0230 Incyte USD 3,283 0.0259 Independence Realty Trust USD 507 0.0040 Ingersoll-Rand USD 3,210 0.0214 Ingredion USD 1,417 0.01

677 Intel USD 20,023 0.1191 Intercontinental Exchange USD 5,270 0.03

125 International Business Machines USD 16,917 0.0915 International Flavors & Fragrances USD 1,777 0.0148 International Paper USD 2,388 0.01






Currency Market

Value

% of

Net

Assets


76 Interpublic Group of Cos USD 1,635 0.0131 Intuit USD 3,620 0.02

5 Intuitive Surgical USD 4,354 0.0241 Invesco USD 1,252 0.01

115 Investors Real Estate Trust USD 626 0.0047 Iron Mountain USD 1,416 0.0113 Jack Henry & Associates USD 1,173 0.01

6 Jacobs Engineering Group USD 295 0.008 JB Hunt Transport Services USD 624 0.00

14 JM Smucker USD 1,419 0.01394 Johnson & Johnson USD 45,688 0.25156 Johnson Controls International USD 5,940 0.03


37 Juniper Networks USD 914 0.0118 Kansas City Southern USD 1,654 0.0130 Kellogg USD 1,809 0.01

121 KeyCorp USD 1,985 0.01129 Kilroy Realty USD 8,526 0.05

46 Kimberly-Clark USD 5,236 0.03649 Kimco Realty USD 10,448 0.06262 Kinder Morgan USD 4,395 0.02107 Kite Realty Group Trust USD 1,769 0.01

29 KLA-Tencor USD 2,354 0.0130 Kohl’s USD 1,021 0.0182 Kraft Heinz USD 6,186 0.03

116 Kroger USD 2,366 0.0146 L Brands USD 2,171 0.01

8 L3 Technologies USD 1,158 0.01105 La Quinta Holdings USD 1,354 0.01

19 Laboratory of America Holdings USD 2,607 0.0121 Lam Research USD 2,619 0.0148 Las Vegas Sands USD 2,709 0.0214 Lear USD 1,732 0.0118 Leggett & Platt USD 809 0.0024 Leidos Holdings USD 1,075 0.0122 Lennar – A – USD 1,026 0.01

6 Lennox International USD 1,034 0.0128 Leucadia National USD 634 0.0037 Level 3 Communications USD 1,907 0.01

286 Lexington Realty Trust USD 2,487 0.0121 Liberty Broadband – C – USD 1,559 0.0181 Liberty Interactive QVC Group – A – USD 1,738 0.0112 Liberty Media Corp-Liberty SiriusXM – A – USD 429 0.0033 Liberty Media Corp-Liberty SiriusXM – C – USD 1,222 0.01

232 Liberty Property Trust USD 8,279 0.0567 Life Storage USD 4,323 0.0228 Lincoln National USD 1,651 0.0126 LKQ USD 764 0.0038 Lockheed Martin USD 9,174 0.0534 Loews USD 1,390 0.01

120 Lowe’s Cos USD 8,138 0.0556 LTC Properties USD 2,529 0.0142 LyondellBasell Industries – A – USD 3,143 0.0223 M&T Bank USD 3,201 0.02


21 Macquarie Infrastructure USD 1,430 0.0116 Macy’s USD 318 0.0018 Mallinckrodt USD 697 0.0016 ManpowerGroup USD 1,594 0.0174 Marathon Oil USD 771 0.0069 Marathon Petroleum USD 3,175 0.02

2 Markel USD 1,437 0.0150 Marriott International – A – USD 4,391 0.0285 Marsh & McLennan Cos USD 5,822 0.0311 Martin Marietta Materials USD 2,218 0.0155 Masco USD 1,833 0.01

143 Mastercard – A – USD 15,201 0.0850 Mattel USD 950 0.0133 Maxim Integrated Products USD 1,289 0.0110 McCormick & Co USD 862 0.00

115 McDonald’s USD 15,437 0.0929 McKesson USD 4,150 0.02




88






Currency Market

Value

% of

Net

Assets


4 Mettler-Toledo International USD 2,267 0.0166 MGM Growth Properties – A – USD 1,683 0.0185 MGM Resorts International USD 2,336 0.0125 Microchip Technology USD 1,695 0.01

164 Micron Technology USD 4,301 0.021,043 Microsoft USD 63,051 0.35

161 Mid-America Apartment Communities USD 14,913 0.0815 Middleby USD 1,647 0.01

8 Mohawk Industries USD 1,640 0.0131 Molson Coors Brewing – B – USD 2,380 0.01

209 Mondelez International – A – USD 7,906 0.04207 Monogram Residential Trust REIT USD 1,765 0.01


202 Morgan Stanley USD 7,889 0.0463 Mosaic USD 1,253 0.0125 Motorola Solutions USD 1,904 0.0122 MSCI USD 1,979 0.0111 Murphy Oil USD 241 0.0048 Mylan USD 1,631 0.0114 Nasdaq USD 881 0.0055 National Health Investors USD 3,835 0.0258 National Oilwell Varco USD 1,664 0.01


216 New York REIT USD 1,637 0.0160 Newell Brands USD 2,822 0.0237 Newfield Exploration USD 933 0.0163 Newmont Mining USD 1,799 0.0173 News – A – USD 878 0.0064 NextEra Energy USD 7,876 0.0436 Nielsen Holdings USD 1,216 0.01

206 NIKE – B – USD 10,665 0.0654 NiSource USD 1,196 0.0181 Noble Energy USD 2,008 0.01

1 Nordstrom USD 48 0.0044 Norfolk Southern USD 4,724 0.0329 Northern Trust USD 2,457 0.0127 Northrop Grumman USD 6,164 0.0386 NorthStar Realty Europe USD 961 0.0111 Norwegian Cruise Line Holdings USD 537 0.0027 Nuance Communications USD 405 0.0056 Nucor USD 2,836 0.0279 NVIDIA USD 9,957 0.06

1 NVR USD 1,870 0.01121 Occidental Petroleum USD 6,371 0.04

27 OGE Energy USD 819 0.00271 Omega Healthcare Investors USD 7,858 0.04

26 Omnicom Group USD 1,888 0.0119 ONEOK USD 859 0.00

427 Oracle USD 18,784 0.1016 O’Reilly Automotive USD 3,023 0.0250 PACCAR USD 2,899 0.02

8 Packaging of America USD 798 0.0017 Palo Alto Networks USD 1,980 0.01

277 Paramount Group USD 3,880 0.0219 Parker-Hannifin USD 2,677 0.0145 Parkway USD 900 0.0045 Parsley Energy – A – USD 1,095 0.0110 Pattersons Cos USD 413 0.0054 Paychex USD 2,710 0.02

156 PayPal Holdings USD 7,349 0.0490 Pennsylvania Real Estate Investment Trust USD 896 0.0032 People’s United Financial USD 490 0.00




21 Pinnacle West Capital USD 1,563 0.0127 Pioneer Natural Resources USD 3,762 0.02






Currency Market

Value

% of

Net

Assets



4 Polaris Industries USD 308 0.0034 PPG Industries USD 3,317 0.02

113 PPL USD 3,842 0.0243 Praxair USD 5,044 0.03




224 Public Storage USD 41,008 0.2314 PulteGroup USD 301 0.0010 PVH USD 958 0.0124 Qorvo USD 1,330 0.0166 QTS Realty Trust – A – USD 3,019 0.02


18 Quest Diagnostics USD 1,716 0.0117 Quintiles IMS Holdings USD 1,325 0.0111 Ralph Lauren USD 683 0.00

115 Ramco-Gershenson Properties Trust USD 1,297 0.0135 Range Resources USD 710 0.0014 Raymond James Financial USD 1,004 0.0138 Raytheon USD 5,400 0.03

409 Realty Income USD 19,789 0.1119 Red Hat USD 1,590 0.01

238 Regency Centers USD 13,088 0.0710 Regeneron Pharmaceuticals USD 4,276 0.02

239 Regions Financial USD 3,063 0.024 Reinsurance Group of America USD 500 0.00

26 Republic Services USD 1,468 0.0114 ResMed USD 955 0.01


92 Rexford Industrial Realty USD 2,210 0.01121 Reynolds American USD 6,913 0.04173 RLJ Lodging Trust USD 3,016 0.02

31 Robert Half International USD 1,300 0.0118 Rockwell Automation USD 2,617 0.0132 Rockwell Collins USD 2,945 0.0217 Roper Technologies USD 3,547 0.0268 Ross Stores USD 3,423 0.0219 Royal Caribbean Cruises USD 1,859 0.0139 S&P Global USD 5,033 0.0392 Sabra Health Care REIT USD 1,953 0.01

2 Sabre USD 43 0.0089 Salesforce.com USD 6,776 0.0414 SBA Communications USD 1,632 0.0126 SCANA USD 1,502 0.01


56 Seagate Technology USD 1,910 0.0137 Sealed Air USD 1,457 0.01




35 Seritage Growth Properties – A – USD 1,292 0.0125 ServiceNow USD 2,368 0.0111 Sherwin-Williams USD 3,235 0.02


454 Simon Property Group USD 64,330 0.36374 Sirius XM Holdings USD 1,792 0.01

20 Skyworks Solutions USD 1,711 0.01155 SL Green Realty USD 14,375 0.08



11 Splunk USD 529 0.00168 Sprint USD 1,206 0.01


89






Currency Market

Value

% of

Net

Assets




216 Starbucks USD 11,041 0.0655 State Street USD 4,307 0.0240 Steel Dynamics USD 1,263 0.01



63 SunTrust Banks USD 3,144 0.029 SVB Financial Group USD 1,341 0.01

69 Symantec USD 1,705 0.01127 Synchrony Financial USD 3,326 0.02

16 Synopsys USD 1,020 0.0164 Sysco USD 2,812 0.0231 T Rowe Price Group USD 2,047 0.01


3 Teleflex USD 628 0.0063 Terreno Realty USD 1,859 0.0117 Tesla USD 5,421 0.0320 Tesoro USD 1,653 0.01

147 Texas Instruments USD 9,933 0.0654 Thermo Fisher Scientific USD 8,317 0.0590 Tier REIT USD 1,465 0.0124 Tiffany & Co USD 1,954 0.01

112 Time Warner USD 9,868 0.0587 TJX Cos USD 5,508 0.0336 T-Mobile USD 1,887 0.01


31 Total System Services USD 1,585 0.0125 Tractor Supply USD 1,195 0.01

6 TransDigm Group USD 1,343 0.0146 Travelers Cos USD 5,109 0.0343 Trimble Navigation USD 1,350 0.0115 TripAdvisor USD 498 0.00

139 Twenty-First Century Fox – A – USD 3,452 0.0283 Twenty-First Century Fox – B – USD 2,022 0.01

106 Twitter USD 1,657 0.0132 Tyson Foods – A – USD 1,731 0.01

400 UDR USD 13,676 0.0821 UGI USD 907 0.01

7 Ulta Salon Cosmetics & Fragrance USD 1,757 0.0127 Under Armour – A – USD 516 0.0012 Under Armour – C – USD 210 0.00


107 United Parcel Service – B – USD 10,396 0.0620 United Rentals USD 2,025 0.01


141 UnitedHealth Group USD 22,841 0.1317 Universal Health Services – B – USD 1,809 0.0145 Unum Group USD 1,831 0.01


7 Vail Resorts USD 1,182 0.0168 Valero Energy USD 4,007 0.0229 Vantiv – A – USD 1,635 0.01

0 Varex Imaging USD 0 0.0018 Varian Medical Systems USD 1,623 0.0113 VCA USD 1,091 0.0118 Veeva Systems – A – USD 951 0.01


18 VeriSign USD 1,439 0.0133 Verisk Analytics USD 2,416 0.01

585 Verizon Communications USD 22,917 0.1331 Vertex Pharmaceuticals USD 3,528 0.0244 VF USD 2,243 0.0144 Viacom – B – USD 1,299 0.01






Currency Market

Value

% of

Net

Assets


264 Visa – A – USD 21,743 0.124 VMware – A – USD 269 0.00

263 Vornado Realty Trust USD 21,670 0.1217 Voya Financial USD 563 0.0015 Vulcan Materials USD 1,616 0.01

1 WABCO Holdings USD 151 0.0014 Wabtec USD 1,153 0.01

142 Walgreens Boots Alliance USD 9,733 0.05218 Wal-Mart Stores USD 14,446 0.08221 Walt Disney USD 20,551 0.11226 Washington Prime Group USD 1,662 0.01

97 Washington Real Estate Investment Trust USD 2,707 0.0171 Waste Management USD 4,538 0.0314 Waters USD 2,176 0.0136 WEC Energy Group USD 1,946 0.01

150 Weingarten Realty Investors USD 3,971 0.02689 Wells Fargo & Co USD 33,449 0.19548 Welltower USD 35,934 0.20

27 Westar Energy USD 1,240 0.0145 Western Digital USD 3,519 0.0293 Western Union USD 1,545 0.0148 WestRock USD 2,375 0.0196 Weyerhaeuser USD 2,814 0.0213 Whirlpool USD 2,101 0.0160 Whole Foods Market USD 2,233 0.01

133 Williams Cos USD 3,519 0.0222 Workday – A – USD 1,892 0.01

136 WP Carey USD 7,889 0.0423 WR Berkley USD 1,416 0.01

5 WW Grainger USD 724 0.0021 Wyndham Worldwide USD 1,815 0.0115 Wynn Resorts USD 1,804 0.0165 Xcel Energy USD 2,600 0.0141 Xerox USD 1,021 0.0148 Xilinx USD 2,696 0.0134 Xylem USD 1,638 0.0143 Yum! Brands USD 2,787 0.0238 Zayo Group Holdings USD 1,034 0.01

3 Zillow Group – C – USD 129 0.0032 Zimmer Biomet Holdings USD 3,652 0.0234 Zions Bancorporation USD 1,293 0.0178 Zoetis USD 4,280 0.02

3,574,963 19.81



555,823 3.08Ireland

57,700 BlackRock Euro Investment GradeCorporate Bond Index Fund EUR 738,618 4.09








14 BNP Paribas Easy JPM EMU EUR 1,839,525 10.19


INVESTMENTS 17,860,772 98.98


90



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet








91






Currency Market

Value

% of

Net

Assets



1,288 0.01Australia

1,484 BHP Billiton GBP 19,869 0.14453 BWP Trust AUD 909 0.01282 Charter Hall Retail REIT AUD 771 0.00




91,929 0.64Austria

54 ANDRITZ EUR 2,853 0.02112 BUWOG EUR 2,805 0.02177 Erste Group Bank EUR 5,944 0.04875 IMMOFINANZ EUR 1,751 0.01

91 OMV EUR 4,156 0.03132 Raiffeisen Bank International EUR 2,912 0.02


22,692 0.16Belgium



186 KBC Group EUR 12,378 0.0984 Proximus EUR 2,577 0.0260 Solvay EUR 7,018 0.0519 Telenet Group Holding EUR 1,078 0.01

106 UCB EUR 6,363 0.0456 Umicore EUR 3,392 0.02

96,781 0.68Bermuda




5,032 0.03Brazil

914 BR Malls Participacoes BRL 2,890 0.0278 Iguatemi Empresa de Shopping Centers BRL 679 0.0199 Multiplan Empreendimentos Imobiliarios BRL 1,716 0.01

5,285 0.04Canada



151 Canadian Apartment Properties REIT CAD 3,414 0.0282 Canadian Real Estate Investment Trust CAD 2,539 0.02

201 Chartwell Retirement Residences CAD 2,097 0.01184 Cominar Real Estate Investment Trust CAD 1,577 0.01123 Dream Office Real Estate Investment Trust CAD 1,620 0.01154 First Capital Realty CAD 2,059 0.01





36,224 0.25






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile


3,196 0.02Denmark



548 Danske Bank DKK 18,462 0.13109 DONG Energy DKK 4,321 0.03141 DSV DKK 7,595 0.05


1,249 Novo Nordisk – B – DKK 46,837 0.33156 Novozymes – B – DKK 5,967 0.04


22 Tryg DKK 421 0.00165 Vestas Wind Systems DKK 13,306 0.09107 William Demant Holding DKK 2,415 0.02

151,678 1.06Finland



4,115 Nokia EUR 22,033 0.15103 Nokian Renkaat EUR 3,727 0.02

73 Orion – B – EUR 4,104 0.03329 Sampo – A – EUR 14,784 0.10335 Stora Enso – R – EUR 3,794 0.03397 UPM-Kymmene EUR 9,898 0.07107 Wartsila EUR 5,560 0.04

86,642 0.61France


272 Air Liquide EUR 29,465 0.21409 Airbus EUR 29,426 0.21137 Alstom EUR 4,189 0.03


1,322 AXA EUR 31,655 0.22797 BNP Paribas EUR 50,249 0.35407 Bollore EUR 1,621 0.01158 Bouygues EUR 5,841 0.04197 Bureau Veritas EUR 3,816 0.03104 Capgemini EUR 9,446 0.07399 Carrefour EUR 8,842 0.06

59 Casino Guichard Perrachon EUR 3,084 0.02371 Cie de Saint-Gobain EUR 17,370 0.12127 Cie Generale des Etablissements Michelin EUR 14,794 0.10

69 CNP Assurances EUR 1,360 0.01748 Credit Agricole EUR 10,541 0.07400 Danone EUR 26,340 0.18



360 Electricite de France EUR 3,415 0.021,180 Engie EUR 15,599 0.11

154 Essilor International EUR 17,176 0.1215 Eurazeo EUR 1,007 0.01




92






Currency Market

Value

% of

Net

Assets





20 Remy Cointreau EUR 2,035 0.01129 Renault EUR 10,187 0.07225 Rexel EUR 3,223 0.02221 Safran EUR 17,694 0.12831 Sanofi EUR 69,636 0.49381 Schneider Electric EUR 25,633 0.18148 SCOR EUR 5,138 0.04







899,415 6.29Germany




112 Brenntag EUR 5,687 0.04791 Commerzbank EUR 8,249 0.06


662 Daimler EUR 41,945 0.291,385 Deutsche Bank EUR 21,503 0.15






58 FUCHS PETROLUB – Pref – EUR 2,752 0.02136 GEA Group EUR 4,868 0.03

37 Hannover Rueck EUR 3,843 0.03111 HeidelbergCement EUR 9,360 0.07

72 Henkel & Co EUR 7,590 0.05134 Henkel & Co – Pref – EUR 16,156 0.11


855 Infineon Technologies EUR 15,807 0.11102 Innogy EUR 3,517 0.03170 K+S EUR 3,820 0.03

76 LANXESS EUR 5,039 0.0460 LEG Immobilien EUR 4,941 0.03

124 Linde EUR 20,635 0.1426 MAN EUR 2,458 0.02






Currency Market

Value

% of

Net

Assets




62 OSRAM Licht EUR 4,340 0.0391 Porsche Automobil Holding – Pref – EUR 4,489 0.03

171 ProSiebenSat.1 Media EUR 6,252 0.04319 RWE EUR 5,563 0.04702 SAP EUR 64,175 0.45

50 Schaeffler – Pref – EUR 623 0.00531 Siemens EUR 63,852 0.45102 Symrise EUR 6,352 0.04132 TAG Immobilien EUR 1,817 0.01307 Telefonica Deutschland Holding EUR 1,345 0.01273 thyssenkrupp EUR 6,799 0.05392 TUI GBP 4,994 0.04




841,826 5.89Hong Kong


668 Hysan Development HKD 2,794 0.022,314 Link REIT HKD 15,440 0.113,376 Sino Land HKD 4,854 0.031,218 Swire Properties HKD 3,524 0.021,303 Wharf Holdings HKD 9,467 0.07

904 Wheelock & Co HKD 5,983 0.04

64,105 0.45Ireland

81 Accenture – A – USD 8,762 0.0678 AerCap Holdings USD 3,194 0.0211 Alkermes USD 544 0.0014 Allegion USD 996 0.01





135 Ryanair Holdings EUR 2,424 0.02

75,329 0.53Italy


5,734 Enel EUR 26,916 0.191,794 Eni EUR 23,603 0.16


830 Intesa Sanpaolo – RSP – EUR 2,155 0.02102 Luxottica Group EUR 5,172 0.04307 Mediobanca EUR 2,651 0.02388 Poste Italiane EUR 2,327 0.02184 Prysmian EUR 4,734 0.03

93 Recordati EUR 3,306 0.02452 Saipem EUR 1,462 0.01


170,461 1.19Japan




93






Currency Market

Value

% of

Net

Assets



600 Hulic JPY 5,372 0.041 Hulic REIT JPY 1,365 0.010 Industrial & Infrastructure Fund Investment JPY 1,405 0.014 Invincible Investment JPY 1,444 0.011 Japan Excellent JPY 1,170 0.014 Japan Hotel REIT Investment JPY 2,367 0.021 Japan Logistics Fund JPY 1,844 0.011 Japan Prime Realty Investment JPY 2,875 0.021 Japan Real Estate Investment JPY 6,116 0.042 Japan Rental Housing Investments JPY 1,222 0.013 Japan Retail Fund Investment JPY 4,453 0.030 Kenedix Office Investment JPY 2,121 0.020 Kenedix Retail REIT JPY 899 0.011 LaSalle Logiport REIT JPY 1,073 0.01

1,390 Mitsubishi Estate JPY 22,701 0.16978 Mitsui Fudosan JPY 20,461 0.14





159,678 1.12Jersey


5,262 0.04Jordan




116 Grand City Properties EUR 2,034 0.0125 Millicom International Cellular – SDR – SEK 1,311 0.0135 RTL Group EUR 2,277 0.02


29,232 0.20Mexico








2,735 ING Groep EUR 41,290 0.29952 Koninklijke Ahold Delhaize EUR 15,936 0.11115 Koninklijke DSM EUR 7,306 0.05

2,096 Koninklijke KPN EUR 5,872 0.04655 Koninklijke Philips EUR 20,380 0.14

42 Koninklijke Vopak EUR 1,700 0.01203 NN Group EUR 6,319 0.04244 NXP Semiconductors USD 23,409 0.16136 QIAGEN EUR 3,964 0.03

62 Randstad Holding EUR 3,190 0.023,122 Royal Dutch Shell – A – GBP 72,367 0.51






Currency Market

Value

% of

Net

Assets




362,467 2.53Norway

726 DNB NOK 10,792 0.08178 Gjensidige Forsikring NOK 2,655 0.02338 Marine Harvest NOK 5,055 0.04

1,007 Norsk Hydro NOK 4,879 0.03474 Orkla NOK 4,213 0.03


838 Statoil NOK 12,137 0.08519 Telenor NOK 7,519 0.05125 Yara International NOK 4,101 0.03



6,054 0.04Portugal

1,530 EDP - Energias de Portugal EUR 4,381 0.03364 Galp Energia EUR 4,825 0.03133 Jeronimo Martins EUR 2,272 0.02

11,478 0.08Romania


2,640 0.02Singapore






25,499 0.18Spain




309 Amadeus IT Group EUR 16,196 0.114,564 Banco Bilbao Vizcaya Argentaria EUR 33,157 0.233,964 Banco de Sabadell EUR 7,052 0.05

10,396 Banco Santander EUR 60,212 0.42962 Bankia EUR 4,073 0.03390 Bankinter EUR 3,147 0.02

2,666 CaixaBank EUR 11,146 0.08360 Distribuidora Internacional de Alimentacion EUR 1,961 0.01136 Enagas EUR 3,335 0.02180 Endesa EUR 3,626 0.03392 Ferrovial EUR 7,613 0.05212 Gamesa Technologica EUR 3,967 0.03206 Gas Natural SDG EUR 4,218 0.03187 Grifols EUR 4,572 0.03

4,099 Iberdrola EUR 28,418 0.20769 Industria de Diseno Textil EUR 25,848 0.18257 Inmobiliaria Colonial EUR 1,958 0.01422 Mapfre EUR 1,289 0.01327 Merlin Properties Socimi EUR 3,619 0.03288 Red Electrica EUR 5,263 0.04883 Repsol EUR 11,836 0.08


94






Currency Market

Value

% of

Net

Assets



294,843 2.06Sweden


13 Autoliv USD 1,240 0.01155 Boliden SEK 3,713 0.03258 Castellum SEK 3,324 0.02192 Electrolux – B – SEK 5,501 0.04385 Essity – B – SEK 9,219 0.06141 Fabege SEK 2,378 0.02

91 Fastighets Balder – B – SEK 1,931 0.0178 Getinge – B – SEK 1,340 0.01

705 Hennes & Mauritz – B – SEK 15,392 0.11162 Hexagon – B – SEK 6,741 0.05107 Hufvudstaden – A – SEK 1,560 0.01250 Husqvarna – B – SEK 2,173 0.02


311 Investor – B – SEK 13,133 0.09128 Kinnevik – B – SEK 3,432 0.02

35 L E Lundbergforetagenn – B – SEK 2,447 0.02134 Lundin Petroleum SEK 2,258 0.02

2,105 Nordea Bank SEK 23,460 0.16820 Sandvik SEK 11,293 0.08147 Securitas – B – SEK 2,166 0.01

1,129 Skandinaviska Enskilda Banken – A – SEK 11,955 0.08275 Skanska – B – SEK 5,720 0.04280 SKF – B – SEK 4,972 0.03

1,135 Svenska Handelsbanken – A – SEK 14,224 0.10586 Swedbank – A – SEK 12,499 0.09118 Swedish Match SEK 3,652 0.03302 Tele2 – B – SEK 2,768 0.02



1,405 ABB CHF 30,467 0.21121 Adecco Group CHF 8,063 0.06

34 Baloise Holding CHF 4,632 0.031 Barry Callebaut CHF 939 0.011 Chocoladefabriken Lindt & Spruengli CHF 4,632 0.030 Chocoladefabriken Lindt & Spruengli – REG

– CHF 4,039 0.0357 Chubb USD 7,212 0.05



7 EMS-Chemie Holding CHF 4,720 0.0311 Garmin USD 484 0.0027 Geberit CHF 11,014 0.08




2,180 Nestle CHF 166,563 1.161,574 Novartis CHF 115,022 0.80


495 Roche Holding CHF 110,741 0.7732 Schindler Holding CHF 5,882 0.0416 Schindler Holding – REG – CHF 2,964 0.02

4 SGS CHF 8,157 0.061 Sika CHF 7,732 0.05








Currency Market

Value

% of

Net

Assets












1,314 British American Tobacco GBP 78,352 0.551,673 British Land GBP 11,536 0.086,291 BT Group GBP 21,116 0.15






120 Derwent London GBP 3,639 0.031,786 Diageo GBP 46,150 0.32

984 Direct Line Insurance Group GBP 3,984 0.03793 Dixons Carphone GBP 2,561 0.02144 easyJet GBP 2,231 0.02701 Experian GBP 12,571 0.09640 Fiat Chrysler Automobiles EUR 5,904 0.04


336 Great Portland Estates GBP 2,288 0.021,398 Hammerson GBP 9,144 0.06


60 IHS Markit USD 2,306 0.02244 IMI GBP 3,323 0.02683 Imperial Brands GBP 26,841 0.19386 Inmarsat GBP 3,387 0.02108 InterContinental Hotels Group GBP 5,231 0.04566 International Consolidated Airlines Group EUR 3,935 0.03104 Intertek Group GBP 4,980 0.03


141 Johnson Matthey GBP 4,596 0.0381 Kennedy Wilson Europe Real Estate GBP 1,019 0.01





95






Currency Market

Value

% of

Net

Assets






229 Persimmon GBP 5,853 0.04191 Petrofac GBP 961 0.01134 Provident Financial GBP 3,725 0.03

1,766 Prudential GBP 35,422 0.25469 Reckitt Benckiser Group GBP 41,567 0.29718 RELX (traded in Netherlands) EUR 12,919 0.09803 RELX (traded in United Kingdom) GBP 15,178 0.11872 Rio Tinto GBP 32,212 0.22


669 Royal Mail GBP 3,208 0.02562 RSA Insurance Group GBP 3,939 0.03803 Sage Group GBP 6,289 0.04







1,206 Tritax Big Box REIT GBP 2,008 0.01905 Unilever GBP 42,819 0.30

1,160 Unilever – CVA – EUR 56,066 0.39237 UNITE Group GBP 1,755 0.01552 United Utilities Group GBP 5,453 0.04


14 Willis Towers Watson USD 1,739 0.011,796 Wm Morrison Supermarkets GBP 4,933 0.031,142 Worldpay Group GBP 4,093 0.03

952 WPP GBP 17,493 0.12


77 3M USD 14,133 0.10212 Abbott Laboratories USD 9,050 0.06210 AbbVie USD 13,369 0.09

90 Acadia Realty Trust USD 2,186 0.0288 Activision Blizzard USD 4,454 0.03

6 Acuity Brands USD 1,013 0.0164 Adobe Systems USD 7,901 0.0611 Advance Auto Parts USD 1,115 0.01

133 Advanced Micro Devices USD 1,458 0.01110 AES USD 1,068 0.01


45 Aflac USD 3,049 0.028 AGCO USD 443 0.00


103 Alexandria Real Estate Equities USD 10,852 0.0834 Alexion Pharmaceuticals USD 3,610 0.0311 Align Technology USD 1,461 0.01







Currency Market

Value

% of

Net

Assets


4 Alliance Data Systems USD 945 0.0138 Alliant Energy USD 1,330 0.0151 Allstate USD 3,976 0.0346 Ally Financial USD 837 0.0138 Alphabet – A – USD 30,977 0.2240 Alphabet – C – USD 31,831 0.22


1 AMERCO USD 310 0.0030 Ameren USD 1,439 0.0128 American Airlines Group USD 1,228 0.0137 American Assets Trust USD 1,270 0.01

142 American Campus Communities USD 5,895 0.0466 American Electric Power USD 4,014 0.0396 American Express USD 7,126 0.0511 American Financial Group USD 951 0.01

254 American Homes 4 Rent – A – USD 5,025 0.04125 American International Group USD 6,856 0.05

51 American Tower USD 5,926 0.0422 American Water Works USD 1,520 0.0119 Ameriprise Financial USD 2,138 0.0115 AmerisourceBergen USD 1,244 0.0130 AMETEK USD 1,583 0.0191 Amgen USD 13,711 0.1045 Amphenol – A – USD 2,943 0.0275 Anadarko Petroleum USD 3,000 0.0248 Analog Devices USD 3,273 0.0285 Annaly Capital Management USD 901 0.0115 Ansys USD 1,561 0.0115 Antero Resources USD 283 0.0034 Anthem USD 5,558 0.04


170 Apartment Investment & Management – A – USD 6,395 0.04661 Apple USD 83,415 0.58233 Apple Hospitality REIT USD 3,830 0.03127 Applied Materials USD 4,617 0.03



29 Arthur J Gallagher & Co USD 1,478 0.0190 Ashford Hospitality Trust USD 482 0.00






1,278 Bank of America USD 27,179 0.19123 Bank of New York Mellon USD 5,510 0.04

53 Baxter International USD 2,825 0.02103 BB&T USD 4,089 0.03




53 Broadcom USD 10,779 0.0818 Broadridge Financial Solutions USD 1,201 0.01



96






Currency Market

Value

% of

Net

Assets


37 Brown-Forman – B – USD 1,557 0.0123 Bunge USD 1,524 0.0152 CA USD 1,572 0.0168 Cabot Oil & Gas USD 1,506 0.0122 Cadence Design Systems USD 646 0.00

109 Camden Property Trust USD 8,148 0.0633 Campbell Soup USD 1,529 0.0161 Capital One Financial USD 4,410 0.0340 Cardinal Health USD 2,747 0.0292 Care Capital Properties USD 2,157 0.0274 CareTrust REIT USD 1,201 0.0132 CarMax USD 1,783 0.01

129 Carnival (traded in United Kingdom) GBP 7,473 0.0543 Carnival (traded in United States) USD 2,451 0.0276 Caterpillar USD 7,176 0.05

207 CBL & Associates Properties USD 1,529 0.0115 CBOE Holdings USD 1,185 0.0150 CBRE Group – A – USD 1,604 0.0153 CBS – B – USD 2,968 0.0221 CDK Global USD 1,146 0.0112 CDW USD 671 0.0023 Celanese – A – USD 1,904 0.01

100 Celgene USD 11,438 0.0825 Centene USD 1,773 0.0168 CenterPoint Energy USD 1,634 0.0151 CenturyLink USD 1,072 0.0129 Cerner USD 1,706 0.0116 CF Industries Holdings USD 397 0.0013 CH Robinson Worldwide USD 802 0.01

152 Charles Schwab USD 5,731 0.0427 Charter Communications – A – USD 8,094 0.0643 Chatham Lodging Trust USD 752 0.0116 Cheniere Energy USD 693 0.0061 Chesapeake Lodging Trust USD 1,314 0.01




349 Citigroup USD 20,437 0.1451 Citizens Financial Group USD 1,582 0.0126 Citrix Systems USD 1,801 0.0113 Clorox USD 1,546 0.0149 CME Group USD 5,395 0.0447 CMS Energy USD 1,889 0.0142 Coach USD 1,723 0.01

530 Coca-Cola USD 20,829 0.1569 Cognizant Technology Solutions – A – USD 3,992 0.03

106 Colgate-Palmolive USD 6,885 0.0529 Colony NorthStar – A – USD 361 0.00


15 Comerica USD 943 0.0129 CommScope Holding USD 952 0.0144 Conagra Brands USD 1,395 0.0122 Concho Resources USD 2,301 0.02




54 Costco Wholesale USD 7,625 0.0581 Coty – A – USD 1,327 0.01










Currency Market

Value

% of

Net

Assets


95 CyrusOne USD 4,625 0.0388 Danaher USD 6,516 0.0520 Darden Restaurants USD 1,568 0.0127 DaVita USD 1,561 0.01





8 Discovery Communications – C – USD 169 0.0024 DISH Network – A – USD 1,346 0.0128 Dollar General USD 1,789 0.0136 Dollar Tree USD 2,179 0.0273 Dominion Energy USD 4,879 0.03


23 Dover USD 1,597 0.01145 Dow Chemical USD 8,025 0.06


430 Duke Realty USD 10,539 0.0787 DuPont Fabros Technology USD 4,645 0.0338 DXC Technology USD 2,547 0.0221 E*TRADE Financial USD 687 0.0021 East West Bancorp USD 1,086 0.0126 Easterly Government Properties USD 482 0.0032 EastGroup Properties USD 2,386 0.0225 Eastman Chemical USD 1,822 0.0164 Eaton USD 4,376 0.03

4 Eaton Vance USD 180 0.00129 eBay USD 3,942 0.03

31 Ecolab USD 3,624 0.0336 Edison International USD 2,487 0.0285 Education Realty Trust USD 2,872 0.0222 Edwards Lifesciences USD 2,330 0.02

111 EI du Pont de Nemours & Co USD 7,883 0.0635 Electronic Arts USD 3,207 0.02

129 Eli Lilly & Co USD 9,300 0.0793 Emerson Electric USD 4,885 0.03

123 Empire State Realty Trust – A – USD 2,239 0.0226 Entergy USD 1,771 0.0110 Envision Healthcare USD 526 0.0068 EOG Resources USD 5,398 0.0477 EPR Properties USD 4,832 0.0313 EQT USD 645 0.0012 Equifax USD 1,458 0.0110 Equinix USD 3,680 0.03


434 Equity Residential USD 25,066 0.1877 Essex Property Trust USD 17,367 0.1232 Estee Lauders Cos – A – USD 2,674 0.0234 Eversource Energy USD 1,804 0.01

124 Exelon USD 3,913 0.0314 Expedia USD 1,822 0.0127 Expeditors International of Washington USD 1,327 0.0173 Express Scripts Holding USD 4,072 0.03


11 F5 Networks USD 1,241 0.01302 Facebook – A – USD 39,984 0.28

32 Fastenal USD 1,209 0.0188 Federal Realty Investment Trust USD 9,805 0.0730 FedEx USD 5,744 0.04

150 FelCor Lodging Trust USD 951 0.0146 Fidelity National Information Services USD 3,441 0.02

115 Fifth Third Bancorp USD 2,618 0.02


97






Currency Market

Value

% of

Net

Assets


133 First Industrial Realty Trust USD 3,335 0.0224 First Republic Bank USD 2,140 0.0147 FirstEnergy USD 1,208 0.0123 Fiserv USD 2,496 0.0214 FleetCor Technologies USD 1,828 0.0191 Flex USD 1,306 0.0113 FLIR Systems USD 394 0.00

5 Flowserve USD 199 0.0021 Fluor USD 828 0.0122 FMC USD 1,391 0.0141 FNF Group USD 1,614 0.0123 Foot Locker USD 978 0.01


24 Fortinet USD 800 0.0151 Fortive USD 2,859 0.0226 Fortune Brands Home & Security USD 1,460 0.0136 Franklin Resources USD 1,417 0.01






64 Global Net Lease USD 1,253 0.0126 Global Payments USD 2,029 0.0149 Goldman Sachs Group USD 9,464 0.0724 Goodyear Tire & Rubber USD 740 0.0175 Government Properties Income Trust USD 1,211 0.01

163 Gramercy Property Trust USD 4,238 0.0337 H&R Block USD 1,004 0.01

120 Halliburton USD 4,479 0.0352 Hanesbrands USD 1,057 0.0116 Harley-Davidson USD 748 0.0111 Harris USD 1,040 0.0144 Hartford Financial Services Group USD 2,039 0.0112 Hasbro USD 1,209 0.0133 HCA Healthcare USD 2,553 0.02



6 Helmerich & Payne USD 270 0.0012 Henry Schein USD 1,901 0.0129 Hersha Hospitality Trust USD 477 0.0015 Hershey USD 1,458 0.0147 Hess USD 1,825 0.01



42 Hologic USD 1,662 0.01153 Home Depot USD 20,641 0.14

94 Honeywell International USD 10,945 0.0823 Hormel Foods USD 692 0.0085 Host Hotels & Resorts USD 1,357 0.01


18 Humana USD 3,785 0.03102 Huntington Bancshares USD 1,205 0.01

3 Huntington Ingalls Industries USD 515 0.0011 IDEX USD 1,109 0.0115 IDEXX Laboratories USD 2,108 0.0141 Illinois Tool Works USD 5,088 0.0422 Illumina USD 3,294 0.0226 Incyte USD 2,901 0.0247 Independence Realty Trust USD 403 0.0035 Ingersoll-Rand USD 2,836 0.0212 Ingredion USD 1,252 0.01

598 Intel USD 17,691 0.1281 Intercontinental Exchange USD 4,656 0.03

111 International Business Machines USD 14,946 0.1013 International Flavors & Fragrances USD 1,570 0.0143 International Paper USD 2,110 0.01






Currency Market

Value

% of

Net

Assets


67 Interpublic Group of Cos USD 1,444 0.0127 Intuit USD 3,199 0.02

5 Intuitive Surgical USD 3,847 0.0336 Invesco USD 1,106 0.0191 Investors Real Estate Trust USD 498 0.0042 Iron Mountain USD 1,251 0.0111 Jack Henry & Associates USD 1,037 0.01

5 Jacobs Engineering Group USD 261 0.007 JB Hunt Transport Services USD 551 0.00

12 JM Smucker USD 1,254 0.01348 Johnson & Johnson USD 40,366 0.28138 Johnson Controls International USD 5,248 0.04


33 Juniper Networks USD 807 0.0116 Kansas City Southern USD 1,461 0.0126 Kellogg USD 1,599 0.01

107 KeyCorp USD 1,754 0.01103 Kilroy Realty USD 6,780 0.05

41 Kimberly-Clark USD 4,626 0.03524 Kimco Realty USD 8,424 0.06231 Kinder Morgan USD 3,883 0.03

85 Kite Realty Group Trust USD 1,406 0.0126 KLA-Tencor USD 2,080 0.0127 Kohl’s USD 902 0.0173 Kraft Heinz USD 5,465 0.04

102 Kroger USD 2,091 0.0141 L Brands USD 1,918 0.01

7 L3 Technologies USD 1,023 0.0183 La Quinta Holdings USD 1,077 0.0117 Laboratory of America Holdings USD 2,303 0.0219 Lam Research USD 2,313 0.0243 Las Vegas Sands USD 2,394 0.0212 Lear USD 1,530 0.0116 Leggett & Platt USD 715 0.0121 Leidos Holdings USD 950 0.0119 Lennar – A – USD 907 0.01


228 Lexington Realty Trust USD 1,978 0.0118 Liberty Broadband – C – USD 1,378 0.0171 Liberty Interactive QVC Group – A – USD 1,536 0.0110 Liberty Media Corp-Liberty SiriusXM – A – USD 379 0.0030 Liberty Media Corp-Liberty SiriusXM – C – USD 1,079 0.01

187 Liberty Property Trust USD 6,670 0.0553 Life Storage USD 3,438 0.0225 Lincoln National USD 1,459 0.0123 LKQ USD 675 0.0033 Lockheed Martin USD 8,105 0.0630 Loews USD 1,229 0.01

106 Lowe’s Cos USD 7,190 0.0545 LTC Properties USD 2,011 0.0138 LyondellBasell Industries – A – USD 2,777 0.0220 M&T Bank USD 2,828 0.02

142 Macerich USD 7,217 0.0586 Mack-Cali Realty USD 2,057 0.0118 Macquarie Infrastructure USD 1,263 0.0114 Macy’s USD 281 0.0016 Mallinckrodt USD 616 0.0014 ManpowerGroup USD 1,409 0.0166 Marathon Oil USD 681 0.0061 Marathon Petroleum USD 2,805 0.02


126 Mastercard – A – USD 13,430 0.0944 Mattel USD 839 0.0129 Maxim Integrated Products USD 1,139 0.01

9 McCormick & Co USD 761 0.01102 McDonald’s USD 13,639 0.10

25 McKesson USD 3,666 0.03350 Medical Properties Trust USD 3,951 0.03

3 MEDNAX USD 176 0.00347 Merck & Co USD 19,476 0.14110 MetLife USD 5,307 0.04


98






Currency Market

Value

% of

Net

Assets


4 Mettler-Toledo International USD 2,003 0.0152 MGM Growth Properties – A – USD 1,338 0.0175 MGM Resorts International USD 2,064 0.0122 Microchip Technology USD 1,497 0.01

145 Micron Technology USD 3,800 0.03922 Microsoft USD 55,706 0.39129 Mid-America Apartment Communities USD 11,950 0.08

14 Middleby USD 1,455 0.017 Mohawk Industries USD 1,449 0.01



178 Morgan Stanley USD 6,970 0.0555 Mosaic USD 1,107 0.0122 Motorola Solutions USD 1,682 0.0119 MSCI USD 1,748 0.01

9 Murphy Oil USD 213 0.0042 Mylan USD 1,441 0.0112 Nasdaq USD 778 0.0144 National Health Investors USD 3,050 0.0251 National Oilwell Varco USD 1,470 0.01

170 National Retail Properties USD 5,825 0.0445 National Storage Affiliates Trust USD 919 0.0145 Navient USD 651 0.0048 NetApp USD 1,689 0.0156 Netflix USD 7,271 0.0526 New York Community Bancorp USD 296 0.00

172 New York REIT USD 1,302 0.0153 Newell Brands USD 2,494 0.0233 Newfield Exploration USD 824 0.0156 Newmont Mining USD 1,590 0.0165 News – A – USD 775 0.0157 NextEra Energy USD 6,958 0.0532 Nielsen Holdings USD 1,074 0.01

182 NIKE – B – USD 9,422 0.0748 NiSource USD 1,057 0.0171 Noble Energy USD 1,774 0.01

1 Nordstrom USD 42 0.0039 Norfolk Southern USD 4,174 0.0325 Northern Trust USD 2,171 0.0224 Northrop Grumman USD 5,446 0.0469 NorthStar Realty Europe USD 764 0.0110 Norwegian Cruise Line Holdings USD 474 0.0023 Nuance Communications USD 358 0.0049 Nucor USD 2,506 0.0269 NVIDIA USD 8,797 0.06

1 NVR USD 1,653 0.01107 Occidental Petroleum USD 5,629 0.04


23 Omnicom Group USD 1,668 0.0117 ONEOK USD 759 0.01

378 Oracle USD 16,596 0.1214 O’Reilly Automotive USD 2,671 0.0244 PACCAR USD 2,561 0.02

7 Packaging of America USD 705 0.0015 Palo Alto Networks USD 1,749 0.01

220 Paramount Group USD 3,085 0.0217 Parker-Hannifin USD 2,366 0.0236 Parkway USD 715 0.0140 Parsley Energy – A – USD 967 0.01

9 Pattersons Cos USD 365 0.0048 Paychex USD 2,395 0.02

138 PayPal Holdings USD 6,493 0.0572 Pennsylvania Real Estate Investment Trust USD 713 0.0128 People’s United Financial USD 433 0.00




19 Pinnacle West Capital USD 1,381 0.0124 Pioneer Natural Resources USD 3,324 0.02






Currency Market

Value

% of

Net

Assets



3 Polaris Industries USD 272 0.0030 PPG Industries USD 2,931 0.02

100 PPL USD 3,395 0.0238 Praxair USD 4,457 0.03




180 Public Storage USD 32,956 0.2312 PulteGroup USD 266 0.00

8 PVH USD 846 0.0121 Qorvo USD 1,175 0.0152 QTS Realty Trust – A – USD 2,401 0.02


16 Quest Diagnostics USD 1,516 0.0115 Quintiles IMS Holdings USD 1,171 0.01

9 Ralph Lauren USD 604 0.0091 Ramco-Gershenson Properties Trust USD 1,031 0.0131 Range Resources USD 627 0.0013 Raymond James Financial USD 887 0.0134 Raytheon USD 4,771 0.03

330 Realty Income USD 15,944 0.1117 Red Hat USD 1,405 0.01



23 Republic Services USD 1,297 0.0112 ResMed USD 844 0.01


73 Rexford Industrial Realty USD 1,757 0.01107 Reynolds American USD 6,108 0.04138 RLJ Lodging Trust USD 2,399 0.02

27 Robert Half International USD 1,149 0.0116 Rockwell Automation USD 2,312 0.0228 Rockwell Collins USD 2,602 0.0215 Roper Technologies USD 3,134 0.0260 Ross Stores USD 3,024 0.0217 Royal Caribbean Cruises USD 1,642 0.0135 S&P Global USD 4,447 0.0374 Sabra Health Care REIT USD 1,553 0.01

2 Sabre USD 38 0.0079 Salesforce.com USD 5,986 0.0412 SBA Communications USD 1,442 0.0123 SCANA USD 1,327 0.01








4 Signature Bank USD 537 0.00364 Simon Property Group USD 51,680 0.36330 Sirius XM Holdings USD 1,583 0.01

18 Skyworks Solutions USD 1,512 0.01125 SL Green Realty USD 11,590 0.08



9 Splunk USD 467 0.00148 Sprint USD 1,065 0.01


99






Currency Market

Value

% of

Net

Assets


25 SS&C Technologies Holdings USD 852 0.0189 STAG Industrial USD 2,150 0.0225 Stanley Black & Decker USD 3,082 0.0214 Staples USD 127 0.00

191 Starbucks USD 9,754 0.0748 State Street USD 3,805 0.0336 Steel Dynamics USD 1,116 0.01


43 Stryker USD 5,211 0.04126 Summit Hotel Properties USD 2,063 0.01

79 Sun Communities USD 6,086 0.0456 SunTrust Banks USD 2,778 0.02

8 SVB Financial Group USD 1,184 0.0161 Symantec USD 1,506 0.01

112 Synchrony Financial USD 2,938 0.0214 Synopsys USD 902 0.0156 Sysco USD 2,485 0.0228 T Rowe Price Group USD 1,809 0.01


3 Teleflex USD 555 0.0050 Terreno Realty USD 1,478 0.0115 Tesla USD 4,789 0.0318 Tesoro USD 1,460 0.01

130 Texas Instruments USD 8,776 0.0648 Thermo Fisher Scientific USD 7,348 0.0572 Tier REIT USD 1,165 0.0121 Tiffany & Co USD 1,726 0.0199 Time Warner USD 8,719 0.0677 TJX Cos USD 4,866 0.0331 T-Mobile USD 1,667 0.01



5 TransDigm Group USD 1,187 0.0141 Travelers Cos USD 4,514 0.0338 Trimble Navigation USD 1,193 0.0113 TripAdvisor USD 440 0.00

123 Twenty-First Century Fox – A – USD 3,050 0.0273 Twenty-First Century Fox – B – USD 1,786 0.0193 Twitter USD 1,464 0.0128 Tyson Foods – A – USD 1,529 0.01

323 UDR USD 11,027 0.0819 UGI USD 801 0.01

6 Ulta Salon Cosmetics & Fragrance USD 1,552 0.0124 Under Armour – A – USD 456 0.0010 Under Armour – C – USD 185 0.0098 Union Pacific USD 9,352 0.07

3 United Continental Holdings USD 175 0.0095 United Parcel Service – B – USD 9,185 0.0618 United Rentals USD 1,789 0.01


124 UnitedHealth Group USD 20,181 0.1415 Universal Health Services – B – USD 1,598 0.0140 Unum Group USD 1,618 0.01



0 Varex Imaging USD 0 0.0016 Varian Medical Systems USD 1,434 0.0112 VCA USD 964 0.0116 Veeva Systems – A – USD 841 0.01



517 Verizon Communications USD 20,247 0.1428 Vertex Pharmaceuticals USD 3,117 0.0239 VF USD 1,982 0.0139 Viacom – B – USD 1,147 0.01






Currency Market

Value

% of

Net

Assets


234 Visa – A – USD 19,211 0.133 VMware – A – USD 238 0.00

212 Vornado Realty Trust USD 17,465 0.1215 Voya Financial USD 498 0.0013 Vulcan Materials USD 1,428 0.01

1 WABCO Holdings USD 133 0.0013 Wabtec USD 1,018 0.01

125 Walgreens Boots Alliance USD 8,599 0.06192 Wal-Mart Stores USD 12,763 0.09195 Walt Disney USD 18,157 0.13180 Washington Prime Group USD 1,321 0.01

77 Washington Real Estate Investment Trust USD 2,153 0.0262 Waste Management USD 4,009 0.0312 Waters USD 1,922 0.0132 WEC Energy Group USD 1,719 0.01

120 Weingarten Realty Investors USD 3,157 0.02608 Wells Fargo & Co USD 29,553 0.21440 Welltower USD 28,880 0.20

24 Westar Energy USD 1,096 0.0140 Western Digital USD 3,109 0.0282 Western Union USD 1,365 0.0142 WestRock USD 2,099 0.0185 Weyerhaeuser USD 2,486 0.0211 Whirlpool USD 1,857 0.0153 Whole Foods Market USD 1,973 0.01

117 Williams Cos USD 3,109 0.0220 Workday – A – USD 1,671 0.01

108 WP Carey USD 6,274 0.0421 WR Berkley USD 1,251 0.01

4 WW Grainger USD 640 0.0018 Wyndham Worldwide USD 1,604 0.0114 Wynn Resorts USD 1,594 0.0157 Xcel Energy USD 2,297 0.0236 Xerox USD 902 0.0142 Xilinx USD 2,381 0.0230 Xylem USD 1,447 0.0138 Yum! Brands USD 2,462 0.0234 Zayo Group Holdings USD 914 0.01

3 Zillow Group – C – USD 114 0.0029 Zimmer Biomet Holdings USD 3,227 0.0230 Zions Bancorporation USD 1,143 0.0169 Zoetis USD 3,782 0.03

3,082,222 21.55



490,209 3.43Ireland











INVESTMENTS 14,112,724 98.67


100



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet



DERIVATIVES (652) (0.01)





101






Currency Market

Value

% of

Net

Assets



727 0.01Australia

835 BHP Billiton GBP 11,189 0.14253 BWP Trust AUD 506 0.01157 Charter Hall Retail REIT AUD 429 0.00930 Cromwell Property Group AUD 594 0.01595 Dexus AUD 3,796 0.05

1,066 Goodman Group AUD 5,642 0.071,066 GPT Group AUD 3,435 0.04

283 Investa Office Fund AUD 834 0.012,144 Mirvac Group AUD 3,072 0.043,151 Scentre Group AUD 8,581 0.11


51,330 0.64Austria

30 ANDRITZ EUR 1,607 0.0262 BUWOG EUR 1,562 0.02

100 Erste Group Bank EUR 3,347 0.04488 IMMOFINANZ EUR 975 0.01

52 OMV EUR 2,341 0.0374 Raiffeisen Bank International EUR 1,640 0.0231 voestalpine EUR 1,279 0.02

12,751 0.16Belgium



105 KBC Group EUR 6,971 0.0947 Proximus EUR 1,451 0.0234 Solvay EUR 3,952 0.0511 Telenet Group Holding EUR 607 0.0159 UCB EUR 3,584 0.0431 Umicore EUR 1,910 0.02

54,489 0.68Bermuda

11 Arch Capital Group USD 938 0.012 Axis Capital Holdings USD 88 0.004 Everest Re Group USD 888 0.01



2,841 0.04Brazil

509 BR Malls Participacoes BRL 1,610 0.0244 Iguatemi Empresa de Shopping Centers BRL 378 0.0155 Multiplan Empreendimentos Imobiliarios BRL 956 0.01

2,944 0.04Canada


89 Artis Real Estate Investment Trust CAD 784 0.0122 Boardwalk Real Estate Investment Trust CAD 703 0.0184 Canadian Apartment Properties REIT CAD 1,902 0.0246 Canadian Real Estate Investment Trust CAD 1,414 0.02

112 Chartwell Retirement Residences CAD 1,168 0.01102 Cominar Real Estate Investment Trust CAD 879 0.01

68 Dream Office Real Estate Investment Trust CAD 902 0.0186 First Capital Realty CAD 1,147 0.0124 Granite Real Estate Investment CAD 839 0.01

174 H&R Real Estate Investment Trust CAD 2,588 0.030 International Petroleum SEK 0 0.008 lululemon Athletica USD 417 0.01

132 Pure Industrial Real Estate Trust CAD 611 0.01186 RioCan Real Estate Investment Trust CAD 3,021 0.04

62 Smart Real Estate Investment Trust CAD 1,354 0.0219 Waste Connections USD 1,064 0.01

20,199 0.25






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile


1,800 0.02Denmark






85,416 1.06Finland






48,792 0.61France





89 Bouygues EUR 3,289 0.04111 Bureau Veritas EUR 2,149 0.03











102






Currency Market

Value

% of

Net

Assets



31 Lagardere EUR 866 0.0199 Legrand EUR 6,062 0.08

100 L’Oreal EUR 18,241 0.23108 LVMH Moet Hennessy Louis Vuitton EUR 23,578 0.29429 Natixis EUR 2,521 0.03835 Orange EUR 11,595 0.14


82 Publicis Groupe EUR 5,366 0.0711 Remy Cointreau EUR 1,146 0.0172 Renault EUR 5,737 0.07

127 Rexel EUR 1,815 0.02124 Safran EUR 9,964 0.12468 Sanofi EUR 39,215 0.49215 Schneider Electric EUR 14,435 0.18








506,255 6.28Germany


78 alstria office REIT EUR 928 0.0124 Axel Springer EUR 1,280 0.02







1,300 Deutsche Telekom EUR 20,433 0.25340 Deutsche Wohnen EUR 11,392 0.14919 E.ON EUR 7,576 0.09



89 Fresenius Medical Care & Co EUR 7,453 0.0933 FUCHS PETROLUB – Pref – EUR 1,550 0.0277 GEA Group EUR 2,742 0.0321 Hannover Rueck EUR 2,164 0.0362 HeidelbergCement EUR 5,271 0.0740 Henkel & Co EUR 4,274 0.0575 Henkel & Co – Pref – EUR 9,098 0.1110 HOCHTIEF EUR 1,551 0.0218 HUGO BOSS EUR 1,110 0.01







Currency Market

Value

% of

Net

Assets





180 RWE EUR 3,133 0.04395 SAP EUR 36,139 0.45


58 Symrise EUR 3,577 0.0474 TAG Immobilien EUR 1,012 0.01

173 Telefonica Deutschland Holding EUR 757 0.01154 thyssenkrupp EUR 3,829 0.05221 TUI GBP 2,813 0.04




473,835 5.88Hong Kong


669 Henderson Land Development HKD 3,271 0.04715 Hongkong Land Holdings USD 4,614 0.06372 Hysan Development HKD 1,557 0.02

1,289 Link REIT HKD 8,601 0.111,881 Sino Land HKD 2,704 0.03

679 Swire Properties HKD 1,963 0.02726 Wharf Holdings HKD 5,273 0.06504 Wheelock & Co HKD 3,333 0.04

35,710 0.44Ireland







42,458 0.53Italy


3,229 Enel EUR 15,158 0.191,010 Eni EUR 13,292 0.16



173 Mediobanca EUR 1,493 0.02219 Poste Italiane EUR 1,311 0.02104 Prysmian EUR 2,666 0.03

52 Recordati EUR 1,862 0.02255 Saipem EUR 824 0.01952 Snam EUR 3,633 0.05


608 Terna Rete Elettrica Nazionale EUR 2,872 0.04795 UniCredit EUR 12,993 0.16601 UnipolSai Assicurazioni EUR 1,148 0.01

95,994 1.19Japan


59 Aeon Mall JPY 1,020 0.011 AEON REIT Investment JPY 725 0.01


103






Currency Market

Value

% of

Net

Assets



334 Hulic JPY 2,992 0.041 Hulic REIT JPY 760 0.010 Industrial & Infrastructure Fund Investment JPY 784 0.012 Invincible Investment JPY 805 0.011 Japan Excellent JPY 652 0.012 Japan Hotel REIT Investment JPY 1,318 0.021 Japan Logistics Fund JPY 1,028 0.010 Japan Prime Realty Investment JPY 1,602 0.021 Japan Real Estate Investment JPY 3,407 0.041 Japan Rental Housing Investments JPY 681 0.012 Japan Retail Fund Investment JPY 2,480 0.030 Kenedix Office Investment JPY 1,184 0.010 Kenedix Retail REIT JPY 500 0.011 LaSalle Logiport REIT JPY 598 0.01

774 Mitsubishi Estate JPY 12,646 0.16545 Mitsui Fudosan JPY 11,398 0.14

1 Mori Hills REIT Investment JPY 964 0.010 Mori Trust Sogo REIT JPY 735 0.010 Nippon Accommodations Fund JPY 1,031 0.011 Nippon Building Fund JPY 3,570 0.041 Nippon Prologis REIT JPY 1,735 0.022 Nomura Real Estate Master Fund JPY 2,720 0.03




88,954 1.10Jersey


2,963 0.04Jordan


969 0.01Luxembourg




16,450 0.20Mexico



804 Aegon EUR 3,594 0.05106 Akzo Nobel EUR 8,024 0.10177 Altice – A – EUR 3,581 0.05

43 Altice – B – EUR 861 0.01148 ASML Holding EUR 16,912 0.21


50 EXOR EUR 2,372 0.0326 Gemalto EUR 1,387 0.0296 Heineken EUR 8,141 0.1044 Heineken Holding EUR 3,516 0.04












Currency Market

Value

% of

Net

Assets


1,487 Royal Dutch Shell – B – GBP 34,930 0.4321 Wereldhave EUR 905 0.01


204,112 2.53Norway

409 DNB NOK 6,078 0.08100 Gjensidige Forsikring NOK 1,495 0.02190 Marine Harvest NOK 2,847 0.04567 Norsk Hydro NOK 2,747 0.03267 Orkla NOK 2,373 0.03






3,372 0.04Portugal



6,464 0.08Romania


1,471 0.02Singapore


292 City Developments SGD 1,997 0.021,628 Global Logistic Properties SGD 2,965 0.04

807 Mapletree Commercial Trust SGD 820 0.011,420 Suntec Real Estate Investment Trust SGD 1,691 0.02




14,285 0.18Spain







77 Enagas EUR 1,878 0.02101 Endesa EUR 2,042 0.03221 Ferrovial EUR 4,287 0.05120 Gamesa Technologica EUR 2,234 0.03116 Gas Natural SDG EUR 2,375 0.03106 Grifols EUR 2,575 0.03

2,308 Iberdrola EUR 16,003 0.20433 Industria de Diseno Textil EUR 14,556 0.18143 Inmobiliaria Colonial EUR 1,091 0.01237 Mapfre EUR 726 0.01182 Merlin Properties Socimi EUR 2,016 0.03162 Red Electrica EUR 2,964 0.04497 Repsol EUR 6,665 0.08


104






Currency Market

Value

% of

Net

Assets



166,005 2.06Sweden



144 Castellum SEK 1,851 0.02108 Electrolux – B – SEK 3,098 0.04217 Essity – B – SEK 5,191 0.06

79 Fabege SEK 1,325 0.0251 Fastighets Balder – B – SEK 1,075 0.0144 Getinge – B – SEK 755 0.01

397 Hennes & Mauritz – B – SEK 8,668 0.1191 Hexagon – B – SEK 3,796 0.0560 Hufvudstaden – A – SEK 869 0.01

141 Husqvarna – B – SEK 1,224 0.0120 ICA Gruppen SEK 654 0.0141 Industrivarden – C – SEK 855 0.01


1,186 Nordea Bank SEK 13,212 0.16462 Sandvik SEK 6,359 0.08

83 Securitas – B – SEK 1,220 0.01635 Skandinaviska Enskilda Banken – A – SEK 6,732 0.08155 Skanska – B – SEK 3,221 0.04158 SKF – B – SEK 2,800 0.03639 Svenska Handelsbanken – A – SEK 8,010 0.10330 Swedbank – A – SEK 7,039 0.09



650 Volvo – B – SEK 9,707 0.12



0 Barry Callebaut CHF 528 0.011 Chocoladefabriken Lindt & Spruengli CHF 2,606 0.030 Chocoladefabriken Lindt & Spruengli – REG

– CHF 2,265 0.0332 Chubb USD 4,072 0.05


982 Credit Suisse Group CHF 12,458 0.1511 Dufry CHF 1,602 0.02
















Currency Market

Value

% of

Net

Assets


13 Swiss Life Holding CHF 3,978 0.0563 Swiss Prime Site CHF 4,987 0.06

136 Swiss Re CHF 10,881 0.1411 Swisscom CHF 4,590 0.0623 TE Connectivity USD 1,587 0.02










740 British American Tobacco GBP 44,123 0.55935 British Land GBP 6,449 0.08

3,542 BT Group GBP 11,892 0.15153 Bunzl GBP 3,986 0.05184 Burberry Group GBP 3,474 0.04338 Capita GBP 2,663 0.03291 Capital & Counties Properties GBP 971 0.01


1,212 Cobham GBP 1,788 0.02103 Coca-Cola European Partners EUR 3,649 0.05595 Compass Group GBP 10,978 0.14587 ConvaTec Group GBP 2,134 0.03

61 Croda International GBP 2,716 0.0317 Delphi Automotive USD 1,310 0.0267 Derwent London GBP 2,027 0.02

1,006 Diageo GBP 25,989 0.32554 Direct Line Insurance Group GBP 2,243 0.03447 Dixons Carphone GBP 1,442 0.02


1,918 GlaxoSmithKline GBP 35,717 0.44187 Great Portland Estates GBP 1,274 0.02782 Hammerson GBP 5,119 0.06


34 IHS Markit USD 1,302 0.02137 IMI GBP 1,871 0.02385 Imperial Brands GBP 15,115 0.19218 Inmarsat GBP 1,907 0.02


58 Intertek Group GBP 2,804 0.03843 Intu Properties GBP 2,585 0.03

1,713 ITV GBP 3,539 0.04661 J Sainsbury GBP 1,895 0.02

79 Johnson Matthey GBP 2,588 0.0345 Kennedy Wilson Europe Real Estate GBP 568 0.01

751 Kingfisher GBP 2,570 0.03740 Land Securities Group GBP 8,535 0.11

2,219 Legal & General Group GBP 6,527 0.0827 Liberty Global – A – USD 754 0.0140 Liberty Global – C – USD 1,082 0.01



105






Currency Market

Value

% of

Net

Assets







76 Provident Financial GBP 2,098 0.03995 Prudential GBP 19,948 0.25264 Reckitt Benckiser Group GBP 23,408 0.29404 RELX (traded in Netherlands) EUR 7,275 0.09452 RELX (traded in United Kingdom) GBP 8,547 0.11491 Rio Tinto GBP 18,140 0.22677 Rolls-Royce Holdings GBP 6,868 0.09


55 Schroders GBP 1,932 0.02975 Segro GBP 5,434 0.07111 Severn Trent GBP 2,748 0.03102 Shaftesbury GBP 1,125 0.01402 Sky GBP 4,553 0.06323 Smith & Nephew GBP 4,875 0.06180 Smiths Group GBP 3,278 0.04423 SSE GBP 7,005 0.09212 St James’s Place GBP 2,857 0.04


1,491 Taylor Wimpey GBP 2,992 0.0441 TechnipFMC USD 989 0.01


105 Travis Perkins GBP 1,740 0.02672 Tritax Big Box REIT GBP 1,119 0.01510 Unilever GBP 24,113 0.30653 Unilever – CVA – EUR 31,573 0.39132 UNITE Group GBP 978 0.01311 United Utilities Group GBP 3,071 0.04


8 Willis Towers Watson USD 982 0.011,011 Wm Morrison Supermarkets GBP 2,778 0.03

643 Worldpay Group GBP 2,305 0.03536 WPP GBP 9,851 0.12


44 3M USD 7,979 0.10120 Abbott Laboratories USD 5,109 0.06119 AbbVie USD 7,548 0.09

50 Acadia Realty Trust USD 1,218 0.0250 Activision Blizzard USD 2,514 0.03

3 Acuity Brands USD 572 0.0136 Adobe Systems USD 4,460 0.06

6 Advance Auto Parts USD 629 0.0175 Advanced Micro Devices USD 823 0.0162 AES USD 603 0.0128 Aetna USD 3,664 0.05


4 AGCO USD 250 0.0027 Agilent Technologies USD 1,404 0.0232 AGNC Investment USD 590 0.0119 Agree Realty USD 768 0.0116 Air Products & Chemicals USD 2,029 0.0317 Akamai Technologies USD 720 0.0111 Albemarle USD 976 0.0157 Alexandria Real Estate Equities USD 6,051 0.0819 Alexion Pharmaceuticals USD 2,038 0.03








Currency Market

Value

% of

Net

Assets




1 AMERCO USD 175 0.0017 Ameren USD 813 0.0116 American Airlines Group USD 693 0.0120 American Assets Trust USD 708 0.0179 American Campus Communities USD 3,284 0.0437 American Electric Power USD 2,266 0.0354 American Express USD 4,023 0.05


71 American International Group USD 3,871 0.0529 American Tower USD 3,346 0.0413 American Water Works USD 858 0.0111 Ameriprise Financial USD 1,207 0.02

8 AmerisourceBergen USD 702 0.0117 AMETEK USD 893 0.0151 Amgen USD 7,740 0.1026 Amphenol – A – USD 1,661 0.0243 Anadarko Petroleum USD 1,694 0.0227 Analog Devices USD 1,848 0.0248 Annaly Capital Management USD 509 0.01

8 Ansys USD 881 0.018 Antero Resources USD 160 0.00

19 Anthem USD 3,138 0.044 AO Smith USD 213 0.00

30 Apache USD 1,250 0.0295 Apartment Investment & Management – A – USD 3,562 0.04

373 Apple USD 47,092 0.58130 Apple Hospitality REIT USD 2,133 0.03









721 Bank of America USD 15,344 0.1970 Bank of New York Mellon USD 3,111 0.0430 Baxter International USD 1,595 0.0258 BB&T USD 2,309 0.0316 Becton Dickinson & Co USD 2,809 0.0314 Bed Bath & Beyond USD 379 0.0089 Berkshire Hathaway – B – USD 13,213 0.1627 Best Buy USD 1,343 0.0215 Biogen USD 3,670 0.0515 BioMarin Pharmaceutical USD 1,215 0.02

9 BlackRock USD 3,203 0.0442 Boeing USD 7,344 0.09

9 BorgWarner USD 345 0.00103 Boston Properties USD 11,056 0.14

99 Boston Scientific USD 2,412 0.03102 Brandywine Realty Trust USD 1,568 0.02122 Bristol-Myers Squibb USD 5,948 0.07197 Brixmor Property Group USD 3,091 0.04




106






Currency Market

Value

% of

Net

Assets


21 Brown-Forman – B – USD 879 0.0113 Bunge USD 860 0.0129 CA USD 888 0.0139 Cabot Oil & Gas USD 850 0.0112 Cadence Design Systems USD 365 0.0061 Camden Property Trust USD 4,547 0.0619 Campbell Soup USD 863 0.0134 Capital One Financial USD 2,489 0.0323 Cardinal Health USD 1,551 0.0251 Care Capital Properties USD 1,202 0.0141 CareTrust REIT USD 669 0.0118 CarMax USD 1,007 0.0173 Carnival (traded in United Kingdom) GBP 4,208 0.0524 Carnival (traded in United States) USD 1,384 0.0243 Caterpillar USD 4,051 0.05

115 CBL & Associates Properties USD 852 0.018 CBOE Holdings USD 669 0.01

28 CBRE Group – A – USD 905 0.0130 CBS – B – USD 1,676 0.0212 CDK Global USD 647 0.01

7 CDW USD 379 0.0013 Celanese – A – USD 1,075 0.0157 Celgene USD 6,458 0.0814 Centene USD 1,001 0.0138 CenterPoint Energy USD 923 0.0129 CenturyLink USD 605 0.0117 Cerner USD 963 0.01

9 CF Industries Holdings USD 224 0.008 CH Robinson Worldwide USD 453 0.01

86 Charles Schwab USD 3,236 0.0415 Charter Communications – A – USD 4,569 0.0624 Chatham Lodging Trust USD 419 0.01

9 Cheniere Energy USD 391 0.0034 Chesapeake Lodging Trust USD 732 0.01


27 Church & Dwight USD 1,224 0.0217 Cigna USD 2,426 0.03


8 Cintas USD 889 0.01348 Cisco Systems USD 9,555 0.12


29 Citizens Financial Group USD 893 0.0115 Citrix Systems USD 1,017 0.01

7 Clorox USD 873 0.0128 CME Group USD 3,046 0.0426 CMS Energy USD 1,067 0.0123 Coach USD 973 0.01

299 Coca-Cola USD 11,759 0.1539 Cognizant Technology Solutions – A – USD 2,254 0.0360 Colgate-Palmolive USD 3,887 0.0517 Colony NorthStar – A – USD 204 0.0063 Colony Starwood Homes USD 1,889 0.0277 Columbia Property Trust USD 1,509 0.02

339 Comcast – A – USD 11,572 0.148 Comerica USD 532 0.01

16 CommScope Holding USD 538 0.0125 Conagra Brands USD 788 0.0112 Concho Resources USD 1,299 0.0295 ConocoPhillips USD 3,648 0.0525 Consolidated Edison USD 1,765 0.0213 Constellation Brands – A – USD 2,141 0.03


1 CoStar Group USD 282 0.0031 Costco Wholesale USD 4,305 0.0546 Coty – A – USD 749 0.01










Currency Market

Value

% of

Net

Assets


53 CyrusOne USD 2,576 0.0350 Danaher USD 3,679 0.0511 Darden Restaurants USD 885 0.0116 DaVita USD 881 0.0158 DCT Industrial Trust USD 2,723 0.03

199 DDR USD 1,579 0.0221 Deere & Co USD 2,256 0.0321 Dell Technologies – V – USD 1,122 0.0118 Delta Air Lines USD 854 0.0112 Dentsply Sirona USD 672 0.0132 Devon Energy USD 899 0.01


103 Digital Realty Trust USD 10,175 0.1330 Discover Financial Services USD 1,643 0.02

8 Discovery Communications – A – USD 188 0.004 Discovery Communications – C – USD 96 0.00

14 DISH Network – A – USD 760 0.0116 Dollar General USD 1,010 0.0120 Dollar Tree USD 1,230 0.0241 Dominion Energy USD 2,754 0.03

2 Domino’s Pizza USD 438 0.0184 Douglas Emmett USD 2,810 0.0313 Dover USD 901 0.0182 Dow Chemical USD 4,530 0.0630 DR Horton USD 898 0.0115 Dr Pepper Snapple Group USD 1,220 0.0211 DTE Energy USD 1,005 0.0148 Duke Energy USD 3,484 0.04

240 Duke Realty USD 5,878 0.0748 DuPont Fabros Technology USD 2,588 0.0321 DXC Technology USD 1,438 0.0212 E*TRADE Financial USD 388 0.0012 East West Bancorp USD 613 0.0115 Easterly Government Properties USD 268 0.0018 EastGroup Properties USD 1,329 0.0214 Eastman Chemical USD 1,029 0.0136 Eaton USD 2,471 0.03

2 Eaton Vance USD 101 0.0073 eBay USD 2,225 0.0318 Ecolab USD 2,046 0.0320 Edison International USD 1,404 0.0247 Education Realty Trust USD 1,600 0.0213 Edwards Lifesciences USD 1,315 0.0263 EI du Pont de Nemours & Co USD 4,450 0.0620 Electronic Arts USD 1,810 0.0273 Eli Lilly & Co USD 5,250 0.0753 Emerson Electric USD 2,758 0.0368 Empire State Realty Trust – A – USD 1,247 0.0215 Entergy USD 1,000 0.01

5 Envision Healthcare USD 297 0.0038 EOG Resources USD 3,048 0.0443 EPR Properties USD 2,692 0.03

7 EQT USD 364 0.007 Equifax USD 823 0.016 Equinix USD 2,077 0.03


242 Equity Residential USD 13,984 0.1743 Essex Property Trust USD 9,685 0.1218 Estee Lauders Cos – A – USD 1,510 0.0219 Eversource Energy USD 1,019 0.0170 Exelon USD 2,209 0.03


108 Extended Stay America USD 1,826 0.0285 Extra Space Storage USD 5,810 0.07


171 Facebook – A – USD 22,573 0.2818 Fastenal USD 682 0.0149 Federal Realty Investment Trust USD 5,472 0.0717 FedEx USD 3,243 0.0484 FelCor Lodging Trust USD 530 0.0126 Fidelity National Information Services USD 1,943 0.0265 Fifth Third Bancorp USD 1,478 0.02


107






Currency Market

Value

% of

Net

Assets





12 Fluor USD 467 0.0112 FMC USD 785 0.0123 FNF Group USD 911 0.0113 Foot Locker USD 552 0.01


14 Fortinet USD 452 0.0129 Fortive USD 1,614 0.0214 Fortune Brands Home & Security USD 824 0.0120 Franklin Resources USD 800 0.0162 Franklin Street Properties USD 603 0.01

124 Freeport-McMoRan USD 1,310 0.021 Gap USD 24 0.008 Gartner USD 854 0.01



431 GGP USD 8,902 0.1195 Gilead Sciences USD 5,887 0.0736 Global Net Lease USD 698 0.0114 Global Payments USD 1,146 0.0127 Goldman Sachs Group USD 5,343 0.0714 Goodyear Tire & Rubber USD 418 0.0142 Government Properties Income Trust USD 675 0.0191 Gramercy Property Trust USD 2,361 0.0321 H&R Block USD 567 0.0168 Halliburton USD 2,529 0.0329 Hanesbrands USD 597 0.01

9 Harley-Davidson USD 422 0.016 Harris USD 587 0.01

25 Hartford Financial Services Group USD 1,151 0.017 Hasbro USD 682 0.01

19 HCA Healthcare USD 1,441 0.02320 HCP USD 8,962 0.11

17 HD Supply Holdings USD 449 0.0164 Healthcare Realty Trust USD 1,914 0.02

111 Healthcare Trust of America – A – USD 3,014 0.043 Helmerich & Payne USD 152 0.007 Henry Schein USD 1,073 0.01

16 Hersha Hospitality Trust USD 266 0.009 Hershey USD 823 0.01

27 Hess USD 1,030 0.01109 Hewlett Packard Enterprise USD 1,586 0.02

62 Highwoods Properties USD 2,750 0.0317 Hilton Worldwide Holdings USD 925 0.01

4 HollyFrontier USD 87 0.0024 Hologic USD 938 0.0187 Home Depot USD 11,653 0.1453 Honeywell International USD 6,179 0.0813 Hormel Foods USD 391 0.0048 Host Hotels & Resorts USD 766 0.01

122 HP USD 1,866 0.0287 Hudson Pacific Properties USD 2,600 0.0310 Humana USD 2,137 0.0357 Huntington Bancshares USD 680 0.01

2 Huntington Ingalls Industries USD 291 0.006 IDEX USD 626 0.018 IDEXX Laboratories USD 1,190 0.01

23 Illinois Tool Works USD 2,872 0.0412 Illumina USD 1,860 0.0215 Incyte USD 1,638 0.0226 Independence Realty Trust USD 225 0.0020 Ingersoll-Rand USD 1,601 0.02



7 International Flavors & Fragrances USD 886 0.0124 International Paper USD 1,191 0.01






Currency Market

Value

% of

Net

Assets



3 Intuitive Surgical USD 2,172 0.0320 Invesco USD 624 0.0151 Investors Real Estate Trust USD 277 0.0023 Iron Mountain USD 706 0.01




19 Juniper Networks USD 456 0.019 Kansas City Southern USD 825 0.01

15 Kellogg USD 902 0.0160 KeyCorp USD 990 0.0157 Kilroy Realty USD 3,777 0.0523 Kimberly-Clark USD 2,612 0.03

292 Kimco Realty USD 4,701 0.06130 Kinder Morgan USD 2,192 0.03

47 Kite Realty Group Trust USD 783 0.0115 KLA-Tencor USD 1,174 0.0115 Kohl’s USD 509 0.0141 Kraft Heinz USD 3,085 0.0458 Kroger USD 1,180 0.0123 L Brands USD 1,083 0.01

4 L3 Technologies USD 577 0.0146 La Quinta Holdings USD 600 0.0110 Laboratory of America Holdings USD 1,300 0.0211 Lam Research USD 1,306 0.0224 Las Vegas Sands USD 1,351 0.02

7 Lear USD 864 0.019 Leggett & Platt USD 403 0.01

12 Leidos Holdings USD 536 0.0111 Lennar – A – USD 512 0.01

3 Lennox International USD 516 0.0114 Leucadia National USD 316 0.0018 Level 3 Communications USD 951 0.01

127 Lexington Realty Trust USD 1,102 0.0110 Liberty Broadband – C – USD 778 0.0140 Liberty Interactive QVC Group – A – USD 867 0.01


104 Liberty Property Trust USD 3,722 0.0529 Life Storage USD 1,915 0.0214 Lincoln National USD 824 0.0113 LKQ USD 381 0.0019 Lockheed Martin USD 4,576 0.0617 Loews USD 694 0.0160 Lowe’s Cos USD 4,059 0.0525 LTC Properties USD 1,120 0.0121 LyondellBasell Industries – A – USD 1,567 0.0211 M&T Bank USD 1,597 0.0279 Macerich USD 4,028 0.0548 Mack-Cali Realty USD 1,146 0.0110 Macquarie Infrastructure USD 713 0.01

8 Macy’s USD 158 0.009 Mallinckrodt USD 348 0.008 ManpowerGroup USD 795 0.01



6 Martin Marietta Materials USD 1,107 0.0127 Masco USD 914 0.0171 Mastercard – A – USD 7,582 0.0925 Mattel USD 474 0.0116 Maxim Integrated Products USD 643 0.01





108






Currency Market

Value

% of

Net

Assets


2 Mettler-Toledo International USD 1,131 0.0129 MGM Growth Properties – A – USD 745 0.0142 MGM Resorts International USD 1,165 0.0112 Microchip Technology USD 845 0.0182 Micron Technology USD 2,145 0.03



16 Molson Coors Brewing – B – USD 1,187 0.01104 Mondelez International – A – USD 3,943 0.05

92 Monogram Residential Trust REIT USD 782 0.0129 Monsanto USD 2,978 0.0433 Monster Beverage USD 1,435 0.0212 Moody’s USD 1,240 0.02

101 Morgan Stanley USD 3,935 0.0531 Mosaic USD 625 0.0112 Motorola Solutions USD 949 0.0111 MSCI USD 987 0.01


7 Nasdaq USD 439 0.0124 National Health Investors USD 1,699 0.0229 National Oilwell Varco USD 830 0.0195 National Retail Properties USD 3,247 0.0425 National Storage Affiliates Trust USD 512 0.0125 Navient USD 368 0.0027 NetApp USD 954 0.0131 Netflix USD 4,105 0.0515 New York Community Bancorp USD 167 0.0096 New York REIT USD 725 0.0130 Newell Brands USD 1,408 0.0219 Newfield Exploration USD 465 0.0132 Newmont Mining USD 898 0.0136 News – A – USD 438 0.0132 NextEra Energy USD 3,928 0.0518 Nielsen Holdings USD 606 0.01


1 Nordstrom USD 24 0.0022 Norfolk Southern USD 2,356 0.0314 Northern Trust USD 1,225 0.0214 Northrop Grumman USD 3,075 0.0438 NorthStar Realty Europe USD 426 0.01


0 NVR USD 932 0.0161 Occidental Petroleum USD 3,178 0.0413 OGE Energy USD 409 0.01

120 Omega Healthcare Investors USD 3,481 0.0413 Omnicom Group USD 942 0.01

9 ONEOK USD 428 0.01213 Oracle USD 9,369 0.12

8 O’Reilly Automotive USD 1,508 0.0225 PACCAR USD 1,446 0.02

4 Packaging of America USD 398 0.018 Palo Alto Networks USD 987 0.01

123 Paramount Group USD 1,719 0.0210 Parker-Hannifin USD 1,335 0.0220 Parkway USD 399 0.0122 Parsley Energy – A – USD 546 0.01

5 Pattersons Cos USD 206 0.0027 Paychex USD 1,352 0.0278 PayPal Holdings USD 3,666 0.0540 Pennsylvania Real Estate Investment Trust USD 397 0.0016 People’s United Financial USD 244 0.00



36 Phillips 66 USD 2,608 0.0387 Physicians Realty Trust USD 1,538 0.0293 Piedmont Office Realty Trust – A – USD 1,722 0.0210 Pinnacle West Capital USD 780 0.0113 Pioneer Natural Resources USD 1,877 0.02






Currency Market

Value

% of

Net

Assets








12 Qorvo USD 663 0.0129 QTS Realty Trust – A – USD 1,337 0.02

109 QUALCOMM USD 5,262 0.0760 Quality Care Properties USD 968 0.01


51 Ramco-Gershenson Properties Trust USD 574 0.0117 Range Resources USD 354 0.00

7 Raymond James Financial USD 501 0.0119 Raytheon USD 2,693 0.03




13 Republic Services USD 732 0.017 ResMed USD 477 0.01


41 Rexford Industrial Realty USD 979 0.0160 Reynolds American USD 3,448 0.0477 RLJ Lodging Trust USD 1,336 0.0215 Robert Half International USD 649 0.01

9 Rockwell Automation USD 1,306 0.0216 Rockwell Collins USD 1,469 0.02

9 Roper Technologies USD 1,769 0.0234 Ross Stores USD 1,707 0.0210 Royal Caribbean Cruises USD 927 0.0120 S&P Global USD 2,511 0.0341 Sabra Health Care REIT USD 865 0.01


7 SBA Communications USD 814 0.0113 SCANA USD 749 0.0197 Schlumberger USD 5,588 0.07

3 Scripps Networks Interactive – A – USD 206 0.0028 Seagate Technology USD 953 0.0119 Sealed Air USD 727 0.01


35 Select Income REIT USD 746 0.0117 Sempra Energy USD 1,710 0.02


16 Seritage Growth Properties – A – USD 572 0.0113 ServiceNow USD 1,181 0.01


2 Signature Bank USD 303 0.00203 Simon Property Group USD 28,828 0.36186 Sirius XM Holdings USD 894 0.01


7 Snap-on USD 954 0.0166 Southern USD 2,784 0.03




109






Currency Market

Value

% of

Net

Assets


14 SS&C Technologies Holdings USD 481 0.0149 STAG Industrial USD 1,198 0.0114 Stanley Black & Decker USD 1,740 0.02

8 Staples USD 72 0.00108 Starbucks USD 5,507 0.07

27 State Street USD 2,148 0.0320 Steel Dynamics USD 630 0.01

3 Stericycle USD 188 0.0099 Store Capital USD 1,945 0.0224 Stryker USD 2,942 0.0470 Summit Hotel Properties USD 1,149 0.0144 Sun Communities USD 3,390 0.0432 SunTrust Banks USD 1,568 0.02

4 SVB Financial Group USD 669 0.0134 Symantec USD 850 0.0163 Synchrony Financial USD 1,659 0.02

8 Synopsys USD 509 0.0132 Sysco USD 1,403 0.0216 T Rowe Price Group USD 1,021 0.0161 Tanger Factory Outlet Centers USD 1,381 0.0222 Targa Resources USD 885 0.0142 Target USD 1,903 0.0229 Taubman Centers USD 1,530 0.0211 TD Ameritrade Holding USD 431 0.01

2 Teleflex USD 313 0.0028 Terreno Realty USD 823 0.01

9 Tesla USD 2,704 0.0310 Tesoro USD 825 0.0173 Texas Instruments USD 4,954 0.0627 Thermo Fisher Scientific USD 4,148 0.0540 Tier REIT USD 649 0.0112 Tiffany & Co USD 975 0.0156 Time Warner USD 4,922 0.0643 TJX Cos USD 2,747 0.0318 T-Mobile USD 941 0.01





180 UDR USD 6,154 0.0811 UGI USD 452 0.01

3 Ulta Salon Cosmetics & Fragrance USD 876 0.0113 Under Armour – A – USD 257 0.00



1 United Therapeutics USD 126 0.0070 UnitedHealth Group USD 11,393 0.14

8 Universal Health Services – B – USD 902 0.0122 Unum Group USD 913 0.0165 Urban Edge Properties USD 1,359 0.02

123 US Bancorp USD 5,611 0.073 Vail Resorts USD 589 0.01

34 Valero Energy USD 1,999 0.0215 Vantiv – A – USD 816 0.01

9 Varian Medical Systems USD 809 0.017 VCA USD 544 0.019 Veeva Systems – A – USD 474 0.01




132 Visa – A – USD 10,845 0.13






Currency Market

Value

% of

Net

Assets




71 Walgreens Boots Alliance USD 4,855 0.06109 Wal-Mart Stores USD 7,205 0.09110 Walt Disney USD 10,250 0.13100 Washington Prime Group USD 736 0.01

43 Washington Real Estate Investment Trust USD 1,199 0.0135 Waste Management USD 2,264 0.03

7 Waters USD 1,085 0.0118 WEC Energy Group USD 971 0.0167 Weingarten Realty Investors USD 1,759 0.02

343 Wells Fargo & Co USD 16,684 0.21245 Welltower USD 16,110 0.20


6 Whirlpool USD 1,048 0.0130 Whole Foods Market USD 1,114 0.0166 Williams Cos USD 1,755 0.0211 Workday – A – USD 944 0.0160 WP Carey USD 3,495 0.0412 WR Berkley USD 706 0.01

2 WW Grainger USD 361 0.0010 Wyndham Worldwide USD 906 0.01

8 Wynn Resorts USD 900 0.0132 Xcel Energy USD 1,297 0.0220 Xerox USD 509 0.0124 Xilinx USD 1,344 0.0217 Xylem USD 817 0.0121 Yum! Brands USD 1,390 0.0219 Zayo Group Holdings USD 516 0.01


1,734,885 21.52



275,183 3.41Ireland













110



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet








111






Currency Market

Value

% of

Net

Assets



371 0.01Australia

425 BHP Billiton GBP 5,699 0.14130 BWP Trust AUD 260 0.01

81 Charter Hall Retail REIT AUD 221 0.00479 Cromwell Property Group AUD 306 0.01306 Dexus AUD 1,953 0.05548 Goodman Group AUD 2,903 0.07549 GPT Group AUD 1,767 0.04145 Investa Office Fund AUD 429 0.01

1,103 Mirvac Group AUD 1,580 0.041,621 Scentre Group AUD 4,415 0.11

172 Shopping Centres Australasia Property Group AUD 254 0.00708 Stockland AUD 2,086 0.05770 Vicinity Centres AUD 1,330 0.03583 Westfield AUD 3,147 0.08

26,350 0.64Austria

15 ANDRITZ EUR 818 0.0232 BUWOG EUR 804 0.0251 Erste Group Bank EUR 1,705 0.04

251 IMMOFINANZ EUR 502 0.0126 OMV EUR 1,192 0.0338 Raiffeisen Bank International EUR 835 0.0216 voestalpine EUR 651 0.02

6,507 0.16Belgium


6 Cofinimmo EUR 613 0.0213 Colruyt EUR 576 0.0117 Groupe Bruxelles Lambert EUR 1,417 0.0353 KBC Group EUR 3,550 0.0924 Proximus EUR 739 0.0217 Solvay EUR 2,013 0.05

6 Telenet Group Holding EUR 309 0.0130 UCB EUR 1,825 0.0416 Umicore EUR 973 0.02

27,758 0.68Bermuda


1,450 0.04Brazil

262 BR Malls Participacoes BRL 828 0.0222 Iguatemi Empresa de Shopping Centers BRL 195 0.0129 Multiplan Empreendimentos Imobiliarios BRL 492 0.01

1,515 0.04Canada

28 Allied Properties Real Estate InvestmentTrust CAD 723 0.02

46 Artis Real Estate Investment Trust CAD 403 0.0111 Boardwalk Real Estate Investment Trust CAD 362 0.0143 Canadian Apartment Properties REIT CAD 978 0.0223 Canadian Real Estate Investment Trust CAD 728 0.0257 Chartwell Retirement Residences CAD 601 0.0153 Cominar Real Estate Investment Trust CAD 452 0.0135 Dream Office Real Estate Investment Trust CAD 464 0.0144 First Capital Realty CAD 590 0.0112 Granite Real Estate Investment CAD 432 0.0190 H&R Real Estate Investment Trust CAD 1,331 0.03


68 Pure Industrial Real Estate Trust CAD 314 0.0196 RioCan Real Estate Investment Trust CAD 1,554 0.0432 Smart Real Estate Investment Trust CAD 697 0.0210 Waste Connections USD 543 0.01

10,385 0.25






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile


917 0.02Denmark

1 AP Moeller - Maersk – A – DKK 955 0.021 AP Moeller - Maersk – B – DKK 2,257 0.06


157 Danske Bank DKK 5,295 0.1331 DONG Energy DKK 1,239 0.0340 DSV DKK 2,178 0.0512 Genmab DKK 2,282 0.0618 H Lundbeck DKK 868 0.0225 ISS DKK 859 0.02


221 TDC DKK 1,123 0.036 Tryg DKK 121 0.00

47 Vestas Wind Systems DKK 3,817 0.0931 William Demant Holding DKK 693 0.02

43,504 1.06Finland

20 Elisa EUR 689 0.0278 Fortum EUR 1,071 0.0372 Kone – B – EUR 3,203 0.0827 Metso EUR 825 0.0221 Neste EUR 735 0.02

1,180 Nokia EUR 6,320 0.1530 Nokian Renkaat EUR 1,069 0.0221 Orion – B – EUR 1,177 0.0395 Sampo – A – EUR 4,240 0.1096 Stora Enso – R – EUR 1,088 0.03

114 UPM-Kymmene EUR 2,839 0.0731 Wartsila EUR 1,595 0.04

24,851 0.61France

41 Accor EUR 1,667 0.045 Aeroports de Paris EUR 648 0.02




45 Bouygues EUR 1,675 0.0457 Bureau Veritas EUR 1,095 0.0330 Capgemini EUR 2,709 0.07

115 Carrefour EUR 2,536 0.0617 Casino Guichard Perrachon EUR 885 0.02

107 Cie de Saint-Gobain EUR 4,982 0.1236 Cie Generale des Etablissements Michelin EUR 4,243 0.1020 CNP Assurances EUR 390 0.01


1 Dassault Aviation EUR 721 0.0222 Dassault Systemes EUR 1,738 0.0444 Edenred EUR 1,005 0.0316 Eiffage EUR 1,246 0.03

103 Electricite de France EUR 979 0.02339 Engie EUR 4,474 0.11



111 Groupe Eurotunnel EUR 1,040 0.037 Hermes International EUR 2,880 0.07

13 ICADE EUR 958 0.026 Iliad EUR 1,271 0.038 Imerys EUR 583 0.01

11 Ingenico Group EUR 914 0.0210 Ipsen EUR 1,151 0.0318 JCDecaux EUR 511 0.01


112






Currency Market

Value

% of

Net

Assets



16 Lagardere EUR 441 0.0150 Legrand EUR 3,087 0.0851 L’Oreal EUR 9,291 0.2355 LVMH Moet Hennessy Louis Vuitton EUR 12,009 0.29

218 Natixis EUR 1,284 0.03425 Orange EUR 5,905 0.14


42 Publicis Groupe EUR 2,733 0.076 Remy Cointreau EUR 584 0.01

37 Renault EUR 2,922 0.0765 Rexel EUR 924 0.0263 Safran EUR 5,075 0.12

238 Sanofi EUR 19,973 0.49109 Schneider Electric EUR 7,352 0.18

42 SCOR EUR 1,474 0.046 SEB EUR 986 0.027 Societe BIC EUR 712 0.02

148 Societe Generale EUR 6,989 0.1717 Sodexo EUR 1,907 0.0556 Suez EUR 902 0.0223 Thales EUR 2,126 0.05


3 Unibail-Rodamco (traded in Netherlands) EUR 715 0.0244 Valeo EUR 2,624 0.06

111 Veolia Environnement EUR 2,057 0.0597 Vinci EUR 7,280 0.18

199 Vivendi EUR 3,872 0.094 Wendel EUR 501 0.01

47 Zodiac Aerospace EUR 1,128 0.03

257,962 6.30Germany

36 adidas EUR 6,072 0.1593 Allianz EUR 16,091 0.3940 alstria office REIT EUR 478 0.0112 Axel Springer EUR 652 0.02

182 BASF EUR 14,758 0.36170 Bayer EUR 19,196 0.47

71 Bayerische Motoren Werke EUR 5,735 0.1412 Bayerische Motoren Werke – Pref – EUR 833 0.0220 Beiersdorf EUR 1,804 0.0432 Brenntag EUR 1,631 0.04



41 Deutsche Boerse EUR 3,801 0.0916 Deutsche Euroshop EUR 536 0.0156 Deutsche Lufthansa EUR 1,121 0.03

191 Deutsche Post EUR 6,275 0.15662 Deutsche Telekom EUR 10,407 0.25174 Deutsche Wohnen EUR 5,836 0.14468 E.ON EUR 3,859 0.09

24 Evonik Industries EUR 659 0.029 Fraport Frankfurt Airport Services

Worldwide EUR 677 0.0280 Fresenius & Co EUR 5,996 0.1545 Fresenius Medical Care & Co EUR 3,796 0.0917 FUCHS PETROLUB – Pref – EUR 789 0.0239 GEA Group EUR 1,396 0.0310 Hannover Rueck EUR 1,102 0.0332 HeidelbergCement EUR 2,685 0.0721 Henkel & Co EUR 2,177 0.0538 Henkel & Co – Pref – EUR 4,634 0.11

5 HOCHTIEF EUR 790 0.029 HUGO BOSS EUR 565 0.01

245 Infineon Technologies EUR 4,534 0.1129 Innogy EUR 1,009 0.0349 K+S EUR 1,096 0.0322 LANXESS EUR 1,445 0.0417 LEG Immobilien EUR 1,416 0.0336 Linde EUR 5,919 0.14

7 MAN EUR 705 0.02






Currency Market

Value

% of

Net

Assets




18 OSRAM Licht EUR 1,245 0.0326 Porsche Automobil Holding – Pref – EUR 1,287 0.0349 ProSiebenSat.1 Media EUR 1,793 0.0491 RWE EUR 1,595 0.04

201 SAP EUR 18,407 0.4514 Schaeffler – Pref – EUR 179 0.00

152 Siemens EUR 18,314 0.4529 Symrise EUR 1,822 0.0438 TAG Immobilien EUR 521 0.0188 Telefonica Deutschland Holding EUR 386 0.0178 thyssenkrupp EUR 1,950 0.05

112 TUI GBP 1,432 0.0425 United Internet EUR 1,182 0.03

5 Volkswagen EUR 655 0.0240 Volkswagen – Pref – EUR 5,274 0.13

232 Vonovia EUR 8,068 0.2023 Zalando EUR 901 0.02

241,446 5.89Hong Kong

207 Hang Lung Group HKD 750 0.02690 Hang Lung Properties HKD 1,510 0.04344 Henderson Land Development HKD 1,683 0.04368 Hongkong Land Holdings USD 2,374 0.06191 Hysan Development HKD 801 0.02663 Link REIT HKD 4,425 0.11968 Sino Land HKD 1,391 0.03349 Swire Properties HKD 1,010 0.02373 Wharf Holdings HKD 2,713 0.07259 Wheelock & Co HKD 1,714 0.04

18,371 0.45Ireland

23 Accenture – A – USD 2,525 0.0623 AerCap Holdings USD 916 0.02




32 Kerry Group – A – EUR 2,413 0.0652 Medtronic USD 4,074 0.1019 Paddy Power Betfair EUR 1,733 0.04

5 Perrigo USD 359 0.0139 Ryanair Holdings EUR 695 0.02

21,642 0.53Italy


1,645 Enel EUR 7,720 0.19514 Eni EUR 6,770 0.17


238 Intesa Sanpaolo – RSP – EUR 618 0.0129 Luxottica Group EUR 1,483 0.0488 Mediobanca EUR 760 0.02

111 Poste Italiane EUR 667 0.0253 Prysmian EUR 1,358 0.0327 Recordati EUR 948 0.02


1,980 Telecom Italia EUR 1,600 0.041,399 Telecom Italia – RSP – EUR 903 0.02

310 Terna Rete Elettrica Nazionale EUR 1,463 0.04405 UniCredit EUR 6,618 0.16306 UnipolSai Assicurazioni EUR 585 0.01

48,892 1.19Japan

0 Activia Properties JPY 716 0.021 Advance Residence Investment JPY 931 0.02

30 Aeon Mall JPY 525 0.010 AEON REIT Investment JPY 373 0.01


113






Currency Market

Value

% of

Net

Assets


192 Daiwa House Industry JPY 5,756 0.141 Daiwa House REIT Investment JPY 927 0.020 Daiwa Office Investment JPY 522 0.010 Frontier Real Estate Investment JPY 524 0.011 GLP J-REIT JPY 755 0.02

172 Hulic JPY 1,539 0.040 Hulic REIT JPY 392 0.010 Industrial & Infrastructure Fund Investment JPY 402 0.011 Invincible Investment JPY 414 0.010 Japan Excellent JPY 336 0.011 Japan Hotel REIT Investment JPY 678 0.020 Japan Logistics Fund JPY 528 0.010 Japan Prime Realty Investment JPY 824 0.020 Japan Real Estate Investment JPY 1,754 0.041 Japan Rental Housing Investments JPY 350 0.011 Japan Retail Fund Investment JPY 1,276 0.030 Kenedix Office Investment JPY 609 0.020 Kenedix Retail REIT JPY 258 0.010 LaSalle Logiport REIT JPY 308 0.01


1 Mori Hills REIT Investment JPY 496 0.010 Mori Trust Sogo REIT JPY 378 0.010 Nippon Accommodations Fund JPY 532 0.011 Nippon Building Fund JPY 1,836 0.051 Nippon Prologis REIT JPY 893 0.021 Nomura Real Estate Master Fund JPY 1,400 0.03


138 Sumitomo Realty & Development JPY 3,716 0.0963 Tokyo Tatemono JPY 722 0.02


45,767 1.12Jersey


1,509 0.04Jordan


494 0.01Luxembourg


33 Grand City Properties EUR 583 0.017 Millicom International Cellular – SDR – SEK 376 0.01

10 RTL Group EUR 653 0.0288 SES EUR 1,801 0.0477 Tenaris EUR 1,047 0.03

8,384 0.20Mexico

875 Fibra Uno Administracion MXN 1,458 0.0459 Fresnillo GBP 999 0.02


409 Aegon EUR 1,830 0.0554 Akzo Nobel EUR 4,087 0.1090 Altice – A – EUR 1,824 0.0522 Altice – B – EUR 438 0.0176 ASML Holding EUR 8,613 0.2123 Boskalis Westminster EUR 661 0.02

2 Core Laboratories USD 155 0.0026 EXOR EUR 1,208 0.0313 Gemalto EUR 706 0.0249 Heineken EUR 4,147 0.1022 Heineken Holding EUR 1,791 0.04

784 ING Groep EUR 11,843 0.29273 Koninklijke Ahold Delhaize EUR 4,571 0.11

33 Koninklijke DSM EUR 2,096 0.05601 Koninklijke KPN EUR 1,684 0.04188 Koninklijke Philips EUR 5,846 0.14

12 Koninklijke Vopak EUR 488 0.0158 NN Group EUR 1,812 0.0470 NXP Semiconductors USD 6,714 0.1639 QIAGEN EUR 1,137 0.0318 Randstad Holding EUR 915 0.02

896 Royal Dutch Shell – A – GBP 20,756 0.51






Currency Market

Value

% of

Net

Assets


757 Royal Dutch Shell – B – GBP 17,791 0.4411 Wereldhave EUR 466 0.0164 Wolters Kluwer EUR 2,385 0.06

103,964 2.54Norway

208 DNB NOK 3,096 0.0851 Gjensidige Forsikring NOK 762 0.0297 Marine Harvest NOK 1,450 0.04

289 Norsk Hydro NOK 1,399 0.03136 Orkla NOK 1,208 0.03






1,735 0.04Portugal


38 Jeronimo Martins EUR 652 0.02

3,292 0.08Romania

68 New Europe Property Investments ZAR 757 0.02

757 0.02Singapore

748 Ascendas Real Estate Investment Trust SGD 1,243 0.03801 CapitaLand SGD 1,784 0.04669 CapitaLand Commercial Trust SGD 707 0.02841 CapitaLand Mall Trust SGD 1,058 0.03150 City Developments SGD 1,027 0.02838 Global Logistic Properties SGD 1,526 0.04415 Mapletree Commercial Trust SGD 422 0.01731 Suntec Real Estate Investment Trust SGD 870 0.02


725 Growthpoint Properties ZAR 1,188 0.0372 Hyprop Investments ZAR 561 0.01

158 Investec GBP 1,033 0.0294 Mediclinic International GBP 795 0.0285 Mondi GBP 1,956 0.05

1,593 Redefine Properties ZAR 1,121 0.0381 Resilient REIT ZAR 657 0.02

7,311 0.18Spain



Servicios – Rights – EUR 40 0.0014 Aena EUR 2,335 0.0689 Amadeus IT Group EUR 4,645 0.11

1,309 Banco Bilbao Vizcaya Argentaria EUR 9,510 0.231,137 Banco de Sabadell EUR 2,023 0.052,982 Banco Santander EUR 17,270 0.42

276 Bankia EUR 1,168 0.03112 Bankinter EUR 903 0.02765 CaixaBank EUR 3,197 0.08103 Distribuidora Internacional de Alimentacion EUR 562 0.01

39 Enagas EUR 956 0.0252 Endesa EUR 1,040 0.03

112 Ferrovial EUR 2,184 0.0561 Gamesa Technologica EUR 1,138 0.0359 Gas Natural SDG EUR 1,210 0.0354 Grifols EUR 1,311 0.03

1,176 Iberdrola EUR 8,151 0.20221 Industria de Diseno Textil EUR 7,414 0.18

74 Inmobiliaria Colonial EUR 561 0.01121 Mapfre EUR 370 0.01

94 Merlin Properties Socimi EUR 1,037 0.0382 Red Electrica EUR 1,510 0.04

253 Repsol EUR 3,395 0.08


114






Currency Market

Value

% of

Net

Assets


253 Repsol – Rights – EUR 101 0.00910 Telefonica EUR 8,228 0.20

84,566 2.06Sweden

76 Alfa Laval SEK 1,358 0.03214 Assa Abloy – B – SEK 4,110 0.10143 Atlas Copco – A – SEK 4,805 0.12

83 Atlas Copco – B – SEK 2,516 0.064 Autoliv USD 357 0.01

45 Boliden SEK 1,065 0.0374 Castellum SEK 953 0.0255 Electrolux – B – SEK 1,578 0.04

110 Essity – B – SEK 2,644 0.0641 Fabege SEK 682 0.0226 Fastighets Balder – B – SEK 553 0.0122 Getinge – B – SEK 384 0.01

202 Hennes & Mauritz – B – SEK 4,415 0.1146 Hexagon – B – SEK 1,933 0.0531 Hufvudstaden – A – SEK 447 0.0172 Husqvarna – B – SEK 623 0.0210 ICA Gruppen SEK 333 0.0121 Industrivarden – C – SEK 435 0.0189 Investor – B – SEK 3,767 0.0937 Kinnevik – B – SEK 984 0.0210 L E Lundbergforetagenn – B – SEK 702 0.0238 Lundin Petroleum SEK 648 0.02

604 Nordea Bank SEK 6,729 0.16235 Sandvik SEK 3,239 0.08

42 Securitas – B – SEK 621 0.01324 Skandinaviska Enskilda Banken – A – SEK 3,429 0.08

79 Skanska – B – SEK 1,641 0.0480 SKF – B – SEK 1,426 0.03

325 Svenska Handelsbanken – A – SEK 4,080 0.10168 Swedbank – A – SEK 3,585 0.09

34 Swedish Match SEK 1,047 0.0387 Tele2 – B – SEK 794 0.02

654 Telefonaktiebolaget LM Ericsson – B – SEK 4,097 0.10581 Telia SEK 2,342 0.06331 Volvo – B – SEK 4,944 0.12




– CHF 1,163 0.0316 Chubb USD 2,078 0.05


500 Credit Suisse Group CHF 6,345 0.156 Dufry CHF 816 0.022 EMS-Chemie Holding CHF 1,354 0.033 Garmin USD 139 0.008 Geberit CHF 3,159 0.082 Givaudan CHF 3,134 0.08

2,507 Glencore GBP 8,201 0.2044 Julius Baer Group CHF 2,031 0.05

9 Kuehne & Nagel International CHF 1,317 0.0386 LafargeHolcim CHF 4,318 0.1113 Lonza Group CHF 2,543 0.06

625 Nestle CHF 47,774 1.17452 Novartis CHF 32,991 0.80

9 Pargesa Holding CHF 594 0.014 Partners Group Holding CHF 2,013 0.05

11 PSP Swiss Property CHF 894 0.02142 Roche Holding CHF 31,763 0.78

9 Schindler Holding CHF 1,687 0.045 Schindler Holding – REG – CHF 850 0.021 SGS CHF 2,341 0.060 Sika CHF 2,216 0.05








Currency Market

Value

% of

Net

Assets



5 Swisscom CHF 2,338 0.0612 TE Connectivity USD 810 0.02

740 UBS Group CHF 10,999 0.277 Vifor Pharma CHF 674 0.025 Weatherford International USD 17 0.00



226 3i Group GBP 2,321 0.06189 Aberdeen Asset Management GBP 651 0.02

43 Admiral Group GBP 990 0.02247 Anglo American GBP 2,885 0.07

9 Aon USD 1,058 0.03116 Ashtead Group GBP 2,097 0.05

63 Associated British Foods GBP 2,094 0.05256 AstraZeneca GBP 14,963 0.36206 Auto Trader Group GBP 889 0.02872 Aviva GBP 5,224 0.13

65 Babcock International Group GBP 647 0.023,431 Barclays GBP 7,922 0.19

237 Barratt Developments GBP 1,519 0.0427 Berkeley Group Holdings GBP 991 0.02

3,955 BP GBP 19,947 0.49377 British American Tobacco GBP 22,473 0.55480 British Land GBP 3,307 0.08

1,804 BT Group GBP 6,057 0.1578 Bunzl GBP 2,030 0.0594 Burberry Group GBP 1,769 0.04

172 Capita GBP 1,356 0.03150 Capital & Counties Properties GBP 499 0.01

1,110 Centrica GBP 2,531 0.06237 CNH Industrial EUR 2,351 0.06617 Cobham GBP 911 0.02

52 Coca-Cola European Partners EUR 1,859 0.05303 Compass Group GBP 5,592 0.14299 ConvaTec Group GBP 1,087 0.03

31 Croda International GBP 1,383 0.039 Delphi Automotive USD 669 0.02

34 Derwent London GBP 1,043 0.03512 Diageo GBP 13,237 0.32282 Direct Line Insurance Group GBP 1,143 0.03227 Dixons Carphone GBP 735 0.02

41 easyJet GBP 640 0.02201 Experian GBP 3,606 0.09183 Fiat Chrysler Automobiles EUR 1,693 0.04331 G4S GBP 1,229 0.03396 GKN GBP 1,472 0.04977 GlaxoSmithKline GBP 18,191 0.44

96 Great Portland Estates GBP 656 0.02401 Hammerson GBP 2,621 0.06


17 IHS Markit USD 665 0.0270 IMI GBP 953 0.02

196 Imperial Brands GBP 7,699 0.19111 Inmarsat GBP 971 0.02


30 Intertek Group GBP 1,428 0.03432 Intu Properties GBP 1,323 0.03873 ITV GBP 1,803 0.04337 J Sainsbury GBP 965 0.02



1,130 Legal & General Group GBP 3,324 0.0814 Liberty Global – A – USD 385 0.0120 Liberty Global – C – USD 552 0.01

14,450 Lloyds Banking Group GBP 10,886 0.2764 London Stock Exchange Group GBP 2,647 0.06

247 Marks & Spencer Group GBP 938 0.02198 Meggitt GBP 1,076 0.03


115






Currency Market

Value

% of

Net

Assets


174 Merlin Entertainments GBP 950 0.026 Michael Kors Holdings USD 193 0.00

695 National Grid GBP 7,534 0.180 NEX Group GBP 0 0.00




507 Prudential GBP 10,160 0.25134 Reckitt Benckiser Group GBP 11,922 0.29206 RELX (traded in Netherlands) EUR 3,705 0.09230 RELX (traded in United Kingdom) GBP 4,353 0.11250 Rio Tinto GBP 9,239 0.23345 Rolls-Royce Holdings GBP 3,498 0.09756 Royal Bank of Scotland Group GBP 2,128 0.05192 Royal Mail GBP 920 0.02161 RSA Insurance Group GBP 1,130 0.03230 Sage Group GBP 1,804 0.04

28 Schroders GBP 984 0.02499 Segro GBP 2,783 0.07

56 Severn Trent GBP 1,400 0.0352 Shaftesbury GBP 579 0.01

205 Sky GBP 2,319 0.06165 Smith & Nephew GBP 2,483 0.06

92 Smiths Group GBP 1,670 0.04216 SSE GBP 3,568 0.09108 St James’s Place GBP 1,455 0.04700 Standard Chartered GBP 6,196 0.15459 Standard Life GBP 2,088 0.05108 Tate & Lyle GBP 813 0.02759 Taylor Wimpey GBP 1,524 0.04

21 TechnipFMC USD 505 0.011,531 Tesco GBP 2,944 0.07

0 TP ICAP GBP 0 0.0053 Travis Perkins GBP 886 0.02

346 Tritax Big Box REIT GBP 575 0.01260 Unilever GBP 12,281 0.30333 Unilever – CVA – EUR 16,081 0.39

68 UNITE Group GBP 503 0.01158 United Utilities Group GBP 1,564 0.04

5,383 Vodafone Group GBP 13,349 0.3337 Weir Group GBP 736 0.0243 Whitbread GBP 1,946 0.05

4 Willis Towers Watson USD 501 0.01515 Wm Morrison Supermarkets GBP 1,415 0.03327 Worldpay Group GBP 1,174 0.03273 WPP GBP 5,017 0.12


22 3M USD 4,073 0.1061 Abbott Laboratories USD 2,608 0.0661 AbbVie USD 3,853 0.0926 Acadia Realty Trust USD 627 0.0225 Activision Blizzard USD 1,283 0.03



2 Affiliated Managers Group USD 338 0.0113 Aflac USD 879 0.02

2 AGCO USD 128 0.0014 Agilent Technologies USD 716 0.0216 AGNC Investment USD 301 0.0110 Agree Realty USD 395 0.01

8 Air Products & Chemicals USD 1,036 0.038 Akamai Technologies USD 368 0.015 Albemarle USD 498 0.01









Currency Market

Value

% of

Net

Assets


1 Alliance Data Systems USD 272 0.0111 Alliant Energy USD 383 0.0115 Allstate USD 1,146 0.0313 Ally Financial USD 241 0.0111 Alphabet – A – USD 8,927 0.2212 Alphabet – C – USD 9,173 0.2273 Altria Group USD 4,739 0.1215 Amazon.com USD 12,425 0.30

0 AMERCO USD 90 0.009 Ameren USD 415 0.018 American Airlines Group USD 354 0.01

11 American Assets Trust USD 364 0.0141 American Campus Communities USD 1,689 0.0419 American Electric Power USD 1,157 0.0328 American Express USD 2,053 0.05

3 American Financial Group USD 274 0.0173 American Homes 4 Rent – A – USD 1,440 0.0436 American International Group USD 1,976 0.0515 American Tower USD 1,708 0.04

6 American Water Works USD 438 0.016 Ameriprise Financial USD 616 0.024 AmerisourceBergen USD 359 0.019 AMETEK USD 456 0.01

26 Amgen USD 3,951 0.1013 Amphenol – A – USD 848 0.0222 Anadarko Petroleum USD 864 0.0214 Analog Devices USD 943 0.0225 Annaly Capital Management USD 260 0.01



15 Apache USD 638 0.0249 Apartment Investment & Management – A – USD 1,833 0.04

190 Apple USD 24,038 0.5967 Apple Hospitality REIT USD 1,098 0.0337 Applied Materials USD 1,330 0.0311 Aramark USD 397 0.0120 Archer-Daniels-Midland USD 740 0.0217 Arconic USD 340 0.01

2 Arista Networks USD 256 0.011 Arrow Electronics USD 69 0.008 Arthur J Gallagher & Co USD 426 0.01

26 Ashford Hospitality Trust USD 138 0.001 Assurant USD 103 0.00

230 AT&T USD 7,603 0.194 Atmos Energy USD 321 0.017 Autodesk USD 583 0.01

15 Automatic Data Processing USD 1,331 0.032 AutoNation USD 85 0.001 AutoZone USD 668 0.02


12 Baker Hughes USD 567 0.0116 Ball USD 587 0.01

368 Bank of America USD 7,832 0.1935 Bank of New York Mellon USD 1,588 0.0415 Baxter International USD 814 0.0230 BB&T USD 1,178 0.03


45 Berkshire Hathaway – B – USD 6,745 0.1614 Best Buy USD 685 0.02

8 Biogen USD 1,873 0.058 BioMarin Pharmaceutical USD 620 0.024 BlackRock USD 1,635 0.04

22 Boeing USD 3,749 0.095 BorgWarner USD 176 0.00

53 Boston Properties USD 5,682 0.1451 Boston Scientific USD 1,231 0.0352 Brandywine Realty Trust USD 807 0.0262 Bristol-Myers Squibb USD 3,036 0.07

101 Brixmor Property Group USD 1,588 0.0415 Broadcom USD 3,106 0.08

5 Broadridge Financial Solutions USD 346 0.0169 Brookfield Property Partners CAD 1,421 0.03


116






Currency Market

Value

% of

Net

Assets


11 Brown-Forman – B – USD 449 0.017 Bunge USD 439 0.01

15 CA USD 453 0.0120 Cabot Oil & Gas USD 434 0.01

6 Cadence Design Systems USD 186 0.0031 Camden Property Trust USD 2,337 0.0610 Campbell Soup USD 441 0.0118 Capital One Financial USD 1,271 0.0312 Cardinal Health USD 791 0.0226 Care Capital Properties USD 618 0.0221 CareTrust REIT USD 344 0.01

9 CarMax USD 514 0.0137 Carnival (traded in United Kingdom) GBP 2,143 0.0512 Carnival (traded in United States) USD 706 0.0222 Caterpillar USD 2,068 0.0559 CBL & Associates Properties USD 438 0.01

4 CBOE Holdings USD 342 0.0114 CBRE Group – A – USD 462 0.0115 CBS – B – USD 855 0.02

6 CDK Global USD 330 0.014 CDW USD 193 0.007 Celanese – A – USD 549 0.01

29 Celgene USD 3,296 0.087 Centene USD 511 0.01

20 CenterPoint Energy USD 471 0.0115 CenturyLink USD 309 0.01

8 Cerner USD 492 0.015 CF Industries Holdings USD 114 0.004 CH Robinson Worldwide USD 231 0.01

44 Charles Schwab USD 1,652 0.048 Charter Communications – A – USD 2,333 0.06

12 Chatham Lodging Trust USD 215 0.015 Cheniere Energy USD 200 0.00

18 Chesapeake Lodging Trust USD 377 0.0169 Chevron USD 6,341 0.15

1 Chipotle Mexican Grill USD 223 0.0114 Church & Dwight USD 625 0.02

8 Cigna USD 1,239 0.034 Cimarex Energy USD 332 0.017 Cincinnati Financial USD 424 0.014 Cintas USD 454 0.01


100 Citigroup USD 5,889 0.1415 Citizens Financial Group USD 456 0.01

7 Citrix Systems USD 519 0.014 Clorox USD 446 0.01

14 CME Group USD 1,555 0.0413 CMS Energy USD 544 0.0112 Coach USD 497 0.01

153 Coca-Cola USD 6,002 0.1520 Cognizant Technology Solutions – A – USD 1,150 0.0331 Colgate-Palmolive USD 1,984 0.05

8 Colony NorthStar – A – USD 104 0.0032 Colony Starwood Homes USD 972 0.0240 Columbia Property Trust USD 776 0.02

173 Comcast – A – USD 5,907 0.144 Comerica USD 272 0.018 CommScope Holding USD 274 0.01

13 Conagra Brands USD 402 0.016 Concho Resources USD 663 0.02

48 ConocoPhillips USD 1,862 0.0513 Consolidated Edison USD 901 0.02

6 Constellation Brands – A – USD 1,093 0.031 Cooper Cos USD 236 0.01

31 Corning USD 813 0.0228 Corporate Office Properties Trust USD 872 0.02


136 Cousins Properties USD 1,048 0.032 CR Bard USD 602 0.01



5 Cummins USD 704 0.0235 CVS Health USD 2,496 0.06






Currency Market

Value

% of

Net

Assets



6 Darden Restaurants USD 452 0.018 DaVita USD 450 0.01

30 DCT Industrial Trust USD 1,401 0.03102 DDR USD 813 0.02

11 Deere & Co USD 1,152 0.0311 Dell Technologies – V – USD 573 0.01

9 Delta Air Lines USD 436 0.016 Dentsply Sirona USD 343 0.01

16 Devon Energy USD 459 0.011 DexCom USD 73 0.002 Diamondback Energy USD 123 0.000 Dick’s Sporting Goods USD 1 0.00

53 Digital Realty Trust USD 5,231 0.1315 Discover Financial Services USD 838 0.02

4 Discovery Communications – A – USD 96 0.002 Discovery Communications – C – USD 49 0.007 DISH Network – A – USD 388 0.018 Dollar General USD 516 0.01

10 Dollar Tree USD 628 0.0221 Dominion Energy USD 1,406 0.03


7 Dover USD 460 0.0142 Dow Chemical USD 2,313 0.0615 DR Horton USD 458 0.01

8 Dr Pepper Snapple Group USD 623 0.026 DTE Energy USD 513 0.01

24 Duke Energy USD 1,778 0.04123 Duke Realty USD 3,022 0.07

25 DuPont Fabros Technology USD 1,331 0.0311 DXC Technology USD 734 0.02

6 E*TRADE Financial USD 198 0.006 East West Bancorp USD 313 0.018 Easterly Government Properties USD 138 0.009 EastGroup Properties USD 684 0.027 Eastman Chemical USD 525 0.01

18 Eaton USD 1,261 0.031 Eaton Vance USD 52 0.00

37 eBay USD 1,136 0.039 Ecolab USD 1,044 0.03

10 Edison International USD 717 0.0224 Education Realty Trust USD 823 0.02

6 Edwards Lifesciences USD 671 0.0232 EI du Pont de Nemours & Co USD 2,272 0.0610 Electronic Arts USD 924 0.0237 Eli Lilly & Co USD 2,680 0.0727 Emerson Electric USD 1,408 0.0335 Empire State Realty Trust – A – USD 642 0.02

8 Entergy USD 510 0.013 Envision Healthcare USD 152 0.00

20 EOG Resources USD 1,556 0.0422 EPR Properties USD 1,385 0.03




9 Estee Lauders Cos – A – USD 771 0.0210 Eversource Energy USD 520 0.0136 Exelon USD 1,128 0.03

4 Expedia USD 525 0.018 Expeditors International of Washington USD 382 0.01

21 Express Scripts Holding USD 1,173 0.0355 Extended Stay America USD 939 0.0244 Extra Space Storage USD 2,986 0.07


87 Facebook – A – USD 11,522 0.289 Fastenal USD 348 0.01

25 Federal Realty Investment Trust USD 2,812 0.079 FedEx USD 1,655 0.04

43 FelCor Lodging Trust USD 273 0.0113 Fidelity National Information Services USD 992 0.0233 Fifth Third Bancorp USD 755 0.02


117






Currency Market

Value

% of

Net

Assets


38 First Industrial Realty Trust USD 956 0.027 First Republic Bank USD 617 0.02

14 FirstEnergy USD 348 0.017 Fiserv USD 719 0.024 FleetCor Technologies USD 527 0.01

26 Flex USD 376 0.014 FLIR Systems USD 114 0.001 Flowserve USD 57 0.006 Fluor USD 238 0.016 FMC USD 401 0.01

12 FNF Group USD 465 0.017 Foot Locker USD 282 0.01


7 Fortinet USD 231 0.0115 Fortive USD 824 0.02

7 Fortune Brands Home & Security USD 421 0.0110 Franklin Resources USD 408 0.0132 Franklin Street Properties USD 310 0.0163 Freeport-McMoRan USD 668 0.02


326 General Electric USD 7,732 0.1923 General Mills USD 1,119 0.0356 General Motors USD 1,702 0.04

7 Genuine Parts USD 584 0.01221 GGP USD 4,575 0.11

48 Gilead Sciences USD 3,005 0.0718 Global Net Lease USD 359 0.01

7 Global Payments USD 585 0.0114 Goldman Sachs Group USD 2,727 0.07

7 Goodyear Tire & Rubber USD 213 0.0122 Government Properties Income Trust USD 347 0.0147 Gramercy Property Trust USD 1,215 0.0311 H&R Block USD 289 0.0134 Halliburton USD 1,291 0.0315 Hanesbrands USD 305 0.01


13 Hartford Financial Services Group USD 588 0.014 Hasbro USD 348 0.01

10 HCA Healthcare USD 736 0.02164 HCP USD 4,607 0.11

9 HD Supply Holdings USD 229 0.0133 Healthcare Realty Trust USD 985 0.0257 Healthcare Trust of America – A – USD 1,551 0.04

2 Helmerich & Payne USD 78 0.003 Henry Schein USD 548 0.018 Hersha Hospitality Trust USD 137 0.004 Hershey USD 420 0.01

14 Hess USD 526 0.0156 Hewlett Packard Enterprise USD 809 0.0232 Highwoods Properties USD 1,415 0.03

9 Hilton Worldwide Holdings USD 472 0.012 HollyFrontier USD 45 0.00

12 Hologic USD 479 0.0144 Home Depot USD 5,948 0.1527 Honeywell International USD 3,154 0.08

7 Hormel Foods USD 199 0.0024 Host Hotels & Resorts USD 391 0.0162 HP USD 953 0.0245 Hudson Pacific Properties USD 1,338 0.03


1 Huntington Ingalls Industries USD 148 0.003 IDEX USD 320 0.014 IDEXX Laboratories USD 607 0.01

12 Illinois Tool Works USD 1,466 0.046 Illumina USD 949 0.028 Incyte USD 836 0.02

13 Independence Realty Trust USD 116 0.0010 Ingersoll-Rand USD 817 0.02



4 International Flavors & Fragrances USD 452 0.0112 International Paper USD 608 0.01






Currency Market

Value

% of

Net

Assets


19 Interpublic Group of Cos USD 416 0.018 Intuit USD 922 0.021 Intuitive Surgical USD 1,109 0.03

10 Invesco USD 319 0.0126 Investors Real Estate Trust USD 143 0.0012 Iron Mountain USD 361 0.01




10 Juniper Networks USD 233 0.015 Kansas City Southern USD 421 0.018 Kellogg USD 461 0.01

31 KeyCorp USD 505 0.0129 Kilroy Realty USD 1,943 0.0512 Kimberly-Clark USD 1,333 0.03

150 Kimco Realty USD 2,416 0.0667 Kinder Morgan USD 1,119 0.0324 Kite Realty Group Trust USD 403 0.01

7 KLA-Tencor USD 599 0.018 Kohl’s USD 260 0.01

21 Kraft Heinz USD 1,575 0.0429 Kroger USD 603 0.0112 L Brands USD 553 0.01

2 L3 Technologies USD 295 0.0124 La Quinta Holdings USD 309 0.01

5 Laboratory of America Holdings USD 664 0.025 Lam Research USD 667 0.02

12 Las Vegas Sands USD 690 0.024 Lear USD 441 0.014 Leggett & Platt USD 206 0.016 Leidos Holdings USD 274 0.016 Lennar – A – USD 261 0.012 Lennox International USD 263 0.017 Leucadia National USD 161 0.009 Level 3 Communications USD 485 0.01

65 Lexington Realty Trust USD 567 0.015 Liberty Broadband – C – USD 397 0.01

21 Liberty Interactive QVC Group – A – USD 443 0.013 Liberty Media Corp-Liberty SiriusXM – A – USD 109 0.009 Liberty Media Corp-Liberty SiriusXM – C – USD 311 0.01

54 Liberty Property Trust USD 1,913 0.0515 Life Storage USD 985 0.02

7 Lincoln National USD 420 0.017 LKQ USD 195 0.00

10 Lockheed Martin USD 2,336 0.069 Loews USD 354 0.01

30 Lowe’s Cos USD 2,072 0.0513 LTC Properties USD 576 0.0111 LyondellBasell Industries – A – USD 800 0.02

6 M&T Bank USD 815 0.0241 Macerich USD 2,070 0.0525 Mack-Cali Realty USD 590 0.01

5 Macquarie Infrastructure USD 364 0.014 Macy’s USD 81 0.005 Mallinckrodt USD 177 0.004 ManpowerGroup USD 406 0.01

19 Marathon Oil USD 196 0.0018 Marathon Petroleum USD 808 0.02


3 Martin Marietta Materials USD 565 0.0114 Masco USD 467 0.0136 Mastercard – A – USD 3,870 0.0913 Mattel USD 242 0.01

8 Maxim Integrated Products USD 328 0.013 McCormick & Co USD 219 0.01

29 McDonald’s USD 3,930 0.107 McKesson USD 1,057 0.03




118






Currency Market

Value

% of

Net

Assets


1 Mettler-Toledo International USD 577 0.0115 MGM Growth Properties – A – USD 383 0.0122 MGM Resorts International USD 595 0.01

6 Microchip Technology USD 432 0.0142 Micron Technology USD 1,095 0.03


4 Middleby USD 419 0.012 Mohawk Industries USD 417 0.018 Molson Coors Brewing – B – USD 606 0.01

53 Mondelez International – A – USD 2,013 0.0547 Monogram Residential Trust REIT USD 402 0.0115 Monsanto USD 1,520 0.0417 Monster Beverage USD 733 0.02

6 Moody’s USD 633 0.0251 Morgan Stanley USD 2,009 0.0516 Mosaic USD 319 0.01

6 Motorola Solutions USD 485 0.016 MSCI USD 504 0.013 Murphy Oil USD 61 0.00

12 Mylan USD 415 0.014 Nasdaq USD 224 0.01

13 National Health Investors USD 874 0.0215 National Oilwell Varco USD 424 0.0149 National Retail Properties USD 1,670 0.0413 National Storage Affiliates Trust USD 263 0.0113 Navient USD 188 0.0014 NetApp USD 487 0.0116 Netflix USD 2,095 0.05

7 New York Community Bancorp USD 85 0.0049 New York REIT USD 373 0.0115 Newell Brands USD 719 0.0210 Newfield Exploration USD 238 0.0116 Newmont Mining USD 458 0.0119 News – A – USD 223 0.0116 NextEra Energy USD 2,005 0.05

9 Nielsen Holdings USD 309 0.0152 NIKE – B – USD 2,715 0.0714 NiSource USD 304 0.0121 Noble Energy USD 511 0.01

0 Nordstrom USD 12 0.0011 Norfolk Southern USD 1,203 0.03

7 Northern Trust USD 626 0.027 Northrop Grumman USD 1,569 0.04

20 NorthStar Realty Europe USD 219 0.013 Norwegian Cruise Line Holdings USD 137 0.007 Nuance Communications USD 103 0.00

14 Nucor USD 722 0.0220 NVIDIA USD 2,535 0.06

0 NVR USD 476 0.0131 Occidental Petroleum USD 1,622 0.04


7 Omnicom Group USD 481 0.015 ONEOK USD 219 0.01

109 Oracle USD 4,783 0.124 O’Reilly Automotive USD 770 0.02

13 PACCAR USD 738 0.022 Packaging of America USD 203 0.004 Palo Alto Networks USD 504 0.01

63 Paramount Group USD 884 0.025 Parker-Hannifin USD 682 0.02

10 Parkway USD 205 0.0111 Parsley Energy – A – USD 279 0.01

3 Pattersons Cos USD 105 0.0014 Paychex USD 690 0.0240 PayPal Holdings USD 1,871 0.0521 Pennsylvania Real Estate Investment Trust USD 204 0.01

8 People’s United Financial USD 125 0.0053 PepsiCo USD 5,408 0.13

218 Pfizer USD 6,411 0.1620 PG&E USD 1,139 0.0355 Philip Morris International USD 5,695 0.1418 Phillips 66 USD 1,331 0.0345 Physicians Realty Trust USD 791 0.0248 Piedmont Office Realty Trust – A – USD 886 0.02

5 Pinnacle West Capital USD 398 0.017 Pioneer Natural Resources USD 958 0.02






Currency Market

Value

% of

Net

Assets



1 Polaris Industries USD 78 0.009 PPG Industries USD 845 0.02

29 PPL USD 978 0.0211 Praxair USD 1,284 0.03

2 Priceline Group USD 3,006 0.0714 Principal Financial Group USD 775 0.0294 Procter & Gamble USD 7,167 0.1821 Progressive USD 809 0.02

180 Prologis USD 9,246 0.2318 Prudential Financial USD 1,675 0.04

6 PS Business Parks USD 647 0.0216 Public Service Enterprise Group USD 599 0.0152 Public Storage USD 9,450 0.23

4 PulteGroup USD 77 0.002 PVH USD 244 0.016 Qorvo USD 339 0.01

15 QTS Realty Trust – A – USD 688 0.0255 QUALCOMM USD 2,686 0.0731 Quality Care Properties USD 498 0.01


26 Ramco-Gershenson Properties Trust USD 295 0.019 Range Resources USD 181 0.004 Raymond James Financial USD 256 0.01

10 Raytheon USD 1,375 0.0395 Realty Income USD 4,572 0.11

5 Red Hat USD 405 0.0155 Regency Centers USD 3,029 0.07

3 Regeneron Pharmaceuticals USD 1,089 0.0361 Regions Financial USD 780 0.02

1 Reinsurance Group of America USD 127 0.007 Republic Services USD 374 0.014 ResMed USD 243 0.01

34 Retail Opportunity Investments USD 567 0.0179 Retail Properties of America – A – USD 843 0.0221 Rexford Industrial Realty USD 504 0.0131 Reynolds American USD 1,760 0.0439 RLJ Lodging Trust USD 687 0.02

8 Robert Half International USD 331 0.015 Rockwell Automation USD 666 0.028 Rockwell Collins USD 750 0.024 Roper Technologies USD 903 0.02

17 Ross Stores USD 872 0.025 Royal Caribbean Cruises USD 473 0.01

10 S&P Global USD 1,282 0.0321 Sabra Health Care REIT USD 445 0.01


4 SBA Communications USD 415 0.017 SCANA USD 383 0.01


14 Seagate Technology USD 486 0.019 Sealed Air USD 371 0.011 Seattle Genetics USD 48 0.002 SEI Investments USD 93 0.00

18 Select Income REIT USD 384 0.019 Sempra Energy USD 873 0.02

69 Senior Housing Properties Trust USD 1,233 0.032 Sensata Technologies Holding USD 87 0.008 Seritage Growth Properties – A – USD 294 0.016 ServiceNow USD 603 0.013 Sherwin-Williams USD 824 0.02


104 Simon Property Group USD 14,819 0.3695 Sirius XM Holdings USD 456 0.01



3 Southwest Airlines USD 159 0.00153 Spirit Realty Capital USD 994 0.02



119






Currency Market

Value

% of

Net

Assets


7 SS&C Technologies Holdings USD 245 0.0125 STAG Industrial USD 616 0.02

7 Stanley Black & Decker USD 888 0.024 Staples USD 37 0.00


1 Stericycle USD 96 0.0051 Store Capital USD 1,000 0.0212 Stryker USD 1,502 0.0436 Summit Hotel Properties USD 591 0.0123 Sun Communities USD 1,744 0.0416 SunTrust Banks USD 801 0.02

2 SVB Financial Group USD 341 0.0118 Symantec USD 434 0.0132 Synchrony Financial USD 847 0.02

4 Synopsys USD 260 0.0116 Sysco USD 716 0.02

8 T Rowe Price Group USD 521 0.0131 Tanger Factory Outlet Centers USD 711 0.0211 Targa Resources USD 452 0.0121 Target USD 971 0.0215 Taubman Centers USD 787 0.02

6 TD Ameritrade Holding USD 220 0.011 Teleflex USD 160 0.00

14 Terreno Realty USD 424 0.014 Tesla USD 1,380 0.035 Tesoro USD 421 0.01

37 Texas Instruments USD 2,529 0.0614 Thermo Fisher Scientific USD 2,117 0.0521 Tier REIT USD 334 0.01

6 Tiffany & Co USD 498 0.0129 Time Warner USD 2,513 0.0622 TJX Cos USD 1,402 0.03

9 T-Mobile USD 480 0.012 Toll Brothers USD 53 0.002 Torchmark USD 160 0.008 Total System Services USD 404 0.016 Tractor Supply USD 304 0.011 TransDigm Group USD 342 0.01

12 Travelers Cos USD 1,301 0.0311 Trimble Navigation USD 344 0.01

4 TripAdvisor USD 127 0.0035 Twenty-First Century Fox – A – USD 879 0.0221 Twenty-First Century Fox – B – USD 515 0.0127 Twitter USD 422 0.01

8 Tyson Foods – A – USD 441 0.0193 UDR USD 3,163 0.08

5 UGI USD 231 0.012 Ulta Salon Cosmetics & Fragrance USD 447 0.017 Under Armour – A – USD 131 0.003 Under Armour – C – USD 53 0.00


27 United Parcel Service – B – USD 2,647 0.065 United Rentals USD 515 0.01


36 UnitedHealth Group USD 5,815 0.144 Universal Health Services – B – USD 461 0.01

11 Unum Group USD 466 0.0134 Urban Edge Properties USD 699 0.0263 US Bancorp USD 2,864 0.07

2 Vail Resorts USD 301 0.0117 Valero Energy USD 1,020 0.02

7 Vantiv – A – USD 416 0.015 Varian Medical Systems USD 413 0.013 VCA USD 278 0.014 Veeva Systems – A – USD 242 0.01



149 Verizon Communications USD 5,835 0.148 Vertex Pharmaceuticals USD 898 0.02

11 VF USD 571 0.0111 Viacom – B – USD 331 0.0167 Visa – A – USD 5,536 0.14






Currency Market

Value

% of

Net

Assets




36 Walgreens Boots Alliance USD 2,478 0.0655 Wal-Mart Stores USD 3,678 0.0956 Walt Disney USD 5,232 0.1352 Washington Prime Group USD 379 0.0122 Washington Real Estate Investment Trust USD 617 0.0218 Waste Management USD 1,155 0.03

3 Waters USD 554 0.019 WEC Energy Group USD 495 0.01

34 Weingarten Realty Investors USD 905 0.02175 Wells Fargo & Co USD 8,516 0.21126 Welltower USD 8,281 0.20

7 Westar Energy USD 316 0.0112 Western Digital USD 896 0.0224 Western Union USD 393 0.0112 WestRock USD 605 0.0124 Weyerhaeuser USD 716 0.02

3 Whirlpool USD 535 0.0115 Whole Foods Market USD 568 0.0134 Williams Cos USD 896 0.02

6 Workday – A – USD 482 0.0131 WP Carey USD 1,798 0.04

6 WR Berkley USD 361 0.011 WW Grainger USD 184 0.005 Wyndham Worldwide USD 462 0.014 Wynn Resorts USD 459 0.01

16 Xcel Energy USD 662 0.0210 Xerox USD 260 0.0112 Xilinx USD 686 0.02

9 Xylem USD 417 0.0111 Yum! Brands USD 709 0.0210 Zayo Group Holdings USD 263 0.01

1 Zillow Group – C – USD 33 0.008 Zimmer Biomet Holdings USD 930 0.029 Zions Bancorporation USD 329 0.01

20 Zoetis USD 1,090 0.03

887,078 21.66



140,320 3.42Ireland



700 iShares USD High Yield Bond UCITS ETF EUR 64,372 1.571,550 Source Physical Gold P-ETC USD 165,056 4.031,400 Vanguard Emerging Markets Stock Index

Fund EUR 183,213 4.47885 Vanguard Investment Series - Global









120



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets0 EURO STOXX 50 Index Future 09/17 EUR 3,330 (104) (0.00)0 FTSE 100 Index Future 09/17 GBP 2,726 (64) (0.00)0 S&P 500 E-mini Index Future 09/17 USD 5,575 (14) (0.00)0 S&P 500 Index Future 09/17 USD 2,026 (5) (0.00)0 Swiss Market Index Future 09/17 CHF 1,231 (3) (0.00)0 Topix Index Future 09/17 JPY 879 3 0.00







121






Currency Market

Value

% of

Net

Assets



591 0.01Australia

681 BHP Billiton GBP 9,124 0.14210 BWP Trust AUD 421 0.01131 Charter Hall Retail REIT AUD 357 0.00774 Cromwell Property Group AUD 495 0.01496 Dexus AUD 3,160 0.05887 Goodman Group AUD 4,697 0.07888 GPT Group AUD 2,859 0.04235 Investa Office Fund AUD 694 0.01


279 Shopping Centres Australasia Property Group AUD 411 0.011,146 Stockland AUD 3,376 0.051,245 Vicinity Centres AUD 2,153 0.03

943 Westfield AUD 5,092 0.08

42,539 0.65Austria


406 IMMOFINANZ EUR 812 0.0142 OMV EUR 1,909 0.0360 Raiffeisen Bank International EUR 1,337 0.0226 voestalpine EUR 1,043 0.02

10,441 0.16Belgium


9 Cofinimmo EUR 992 0.0220 Colruyt EUR 923 0.0127 Groupe Bruxelles Lambert EUR 2,268 0.0386 KBC Group EUR 5,684 0.0939 Proximus EUR 1,183 0.0227 Solvay EUR 3,223 0.05

9 Telenet Group Holding EUR 495 0.0148 UCB EUR 2,922 0.0425 Umicore EUR 1,558 0.02

44,454 0.68Bermuda

9 Arch Capital Group USD 762 0.011 Axis Capital Holdings USD 71 0.003 Everest Re Group USD 721 0.01



2,307 0.04Brazil

424 BR Malls Participacoes BRL 1,340 0.0236 Iguatemi Empresa de Shopping Centers BRL 315 0.0146 Multiplan Empreendimentos Imobiliarios BRL 796 0.01

2,451 0.04Canada


74 Artis Real Estate Investment Trust CAD 653 0.0118 Boardwalk Real Estate Investment Trust CAD 585 0.0170 Canadian Apartment Properties REIT CAD 1,583 0.0238 Canadian Real Estate Investment Trust CAD 1,177 0.0293 Chartwell Retirement Residences CAD 972 0.0285 Cominar Real Estate Investment Trust CAD 732 0.0157 Dream Office Real Estate Investment Trust CAD 751 0.0172 First Capital Realty CAD 955 0.0120 Granite Real Estate Investment CAD 699 0.01

145 H&R Real Estate Investment Trust CAD 2,154 0.030 International Petroleum SEK 0 0.006 lululemon Athletica USD 339 0.01

109 Pure Industrial Real Estate Trust CAD 509 0.01155 RioCan Real Estate Investment Trust CAD 2,514 0.04

52 Smart Real Estate Investment Trust CAD 1,127 0.0215 Waste Connections USD 864 0.01

16,784 0.26






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile


1,468 0.02Denmark






69,654 1.06Finland






39,788 0.61France





73 Bouygues EUR 2,683 0.0490 Bureau Veritas EUR 1,753 0.0348 Capgemini EUR 4,338 0.07

183 Carrefour EUR 4,061 0.0627 Casino Guichard Perrachon EUR 1,416 0.02

171 Cie de Saint-Gobain EUR 7,977 0.1258 Cie Generale des Etablissements Michelin EUR 6,794 0.1032 CNP Assurances EUR 625 0.01






178 Groupe Eurotunnel EUR 1,665 0.0311 Hermes International EUR 4,611 0.0721 ICADE EUR 1,546 0.0210 Iliad EUR 2,034 0.0312 Imerys EUR 933 0.0118 Ingenico Group EUR 1,463 0.0215 Ipsen EUR 1,843 0.0329 JCDecaux EUR 819 0.01


122






Currency Market

Value

% of

Net

Assets



26 Lagardere EUR 706 0.0181 Legrand EUR 4,943 0.0882 L’Oreal EUR 14,875 0.2388 LVMH Moet Hennessy Louis Vuitton EUR 19,227 0.29

350 Natixis EUR 2,056 0.03681 Orange EUR 9,455 0.14


67 Publicis Groupe EUR 4,376 0.079 Remy Cointreau EUR 934 0.01

59 Renault EUR 4,678 0.07103 Rexel EUR 1,480 0.02101 Safran EUR 8,126 0.12382 Sanofi EUR 31,979 0.49175 Schneider Electric EUR 11,771 0.18


238 Societe Generale EUR 11,190 0.1727 Sodexo EUR 3,054 0.0589 Suez EUR 1,444 0.0236 Thales EUR 3,404 0.05





413,216 6.31Germany


65 alstria office REIT EUR 773 0.0120 Axel Springer EUR 1,044 0.02





66 Deutsche Boerse EUR 6,086 0.0925 Deutsche Euroshop EUR 867 0.0190 Deutsche Lufthansa EUR 1,796 0.03

306 Deutsche Post EUR 10,046 0.151,060 Deutsche Telekom EUR 16,662 0.25

281 Deutsche Wohnen EUR 9,403 0.14749 E.ON EUR 6,178 0.09



72 Fresenius Medical Care & Co EUR 6,077 0.0927 FUCHS PETROLUB – Pref – EUR 1,264 0.0262 GEA Group EUR 2,236 0.0317 Hannover Rueck EUR 1,765 0.0351 HeidelbergCement EUR 4,298 0.0733 Henkel & Co EUR 3,486 0.0562 Henkel & Co – Pref – EUR 7,419 0.11

8 HOCHTIEF EUR 1,265 0.0215 HUGO BOSS EUR 905 0.01







Currency Market

Value

% of

Net

Assets





146 RWE EUR 2,555 0.04322 SAP EUR 29,471 0.45


47 Symrise EUR 2,917 0.0461 TAG Immobilien EUR 842 0.01

141 Telefonica Deutschland Holding EUR 618 0.01126 thyssenkrupp EUR 3,122 0.05180 TUI GBP 2,294 0.04




386,760 5.91Hong Kong


557 Henderson Land Development HKD 2,722 0.04595 Hongkong Land Holdings USD 3,841 0.06310 Hysan Development HKD 1,296 0.02


565 Swire Properties HKD 1,634 0.02604 Wharf Holdings HKD 4,390 0.07419 Wheelock & Co HKD 2,774 0.04

29,726 0.45Ireland





51 Kerry Group – A – EUR 3,863 0.0683 Medtronic USD 6,482 0.1030 Paddy Power Betfair EUR 2,774 0.04

9 Perrigo USD 572 0.0162 Ryanair Holdings EUR 1,113 0.02

34,574 0.53Italy


2,633 Enel EUR 12,361 0.19824 Eni EUR 10,839 0.17


381 Intesa Sanpaolo – RSP – EUR 989 0.0247 Luxottica Group EUR 2,375 0.04

141 Mediobanca EUR 1,218 0.02178 Poste Italiane EUR 1,069 0.02




495 Terna Rete Elettrica Nazionale EUR 2,342 0.04648 UniCredit EUR 10,596 0.16490 UnipolSai Assicurazioni EUR 936 0.01

78,280 1.20Japan


49 Aeon Mall JPY 849 0.011 AEON REIT Investment JPY 603 0.01


123






Currency Market

Value

% of

Net

Assets


311 Daiwa House Industry JPY 9,314 0.141 Daiwa House REIT Investment JPY 1,499 0.020 Daiwa Office Investment JPY 845 0.010 Frontier Real Estate Investment JPY 850 0.011 GLP J-REIT JPY 1,221 0.02

278 Hulic JPY 2,491 0.040 Hulic REIT JPY 633 0.010 Industrial & Infrastructure Fund Investment JPY 653 0.012 Invincible Investment JPY 670 0.011 Japan Excellent JPY 543 0.012 Japan Hotel REIT Investment JPY 1,097 0.021 Japan Logistics Fund JPY 855 0.010 Japan Prime Realty Investment JPY 1,334 0.021 Japan Real Estate Investment JPY 2,835 0.041 Japan Rental Housing Investments JPY 567 0.011 Japan Retail Fund Investment JPY 2,064 0.030 Kenedix Office Investment JPY 983 0.020 Kenedix Retail REIT JPY 417 0.011 LaSalle Logiport REIT JPY 498 0.01


1 Mori Hills REIT Investment JPY 802 0.010 Mori Trust Sogo REIT JPY 612 0.010 Nippon Accommodations Fund JPY 858 0.011 Nippon Building Fund JPY 2,974 0.051 Nippon Prologis REIT JPY 1,444 0.022 Nomura Real Estate Master Fund JPY 2,264 0.03




74,049 1.13Jersey


2,417 0.04Jordan


790 0.01Luxembourg


54 Grand City Properties EUR 943 0.0112 Millicom International Cellular – SDR – SEK 602 0.0116 RTL Group EUR 1,046 0.02


13,433 0.20Mexico





121 ASML Holding EUR 13,791 0.2137 Boskalis Westminster EUR 1,058 0.02

3 Core Laboratories USD 247 0.0041 EXOR EUR 1,934 0.0321 Gemalto EUR 1,131 0.0278 Heineken EUR 6,639 0.1036 Heineken Holding EUR 2,867 0.04


53 Koninklijke DSM EUR 3,355 0.05963 Koninklijke KPN EUR 2,697 0.04301 Koninklijke Philips EUR 9,359 0.14

19 Koninklijke Vopak EUR 781 0.0193 NN Group EUR 2,902 0.04

112 NXP Semiconductors USD 10,750 0.1662 QIAGEN EUR 1,820 0.0329 Randstad Holding EUR 1,465 0.02







Currency Market

Value

% of

Net

Assets


1,213 Royal Dutch Shell – B – GBP 28,484 0.4417 Wereldhave EUR 754 0.01


166,461 2.54Norway

333 DNB NOK 4,956 0.0882 Gjensidige Forsikring NOK 1,219 0.02







2,807 0.04Portugal



5,271 0.08Romania


1,224 0.02Singapore


243 City Developments SGD 1,662 0.021,355 Global Logistic Properties SGD 2,469 0.04

672 Mapletree Commercial Trust SGD 682 0.011,182 Suntec Real Estate Investment Trust SGD 1,408 0.02


1,173 Growthpoint Properties ZAR 1,922 0.03116 Hyprop Investments ZAR 909 0.01253 Investec GBP 1,653 0.02151 Mediclinic International GBP 1,272 0.02136 Mondi GBP 3,131 0.05


11,765 0.18Spain






1,225 CaixaBank EUR 5,119 0.08165 Distribuidora Internacional de Alimentacion EUR 900 0.01


180 Ferrovial EUR 3,496 0.0597 Gamesa Technologica EUR 1,822 0.0395 Gas Natural SDG EUR 1,937 0.0386 Grifols EUR 2,100 0.03

1,882 Iberdrola EUR 13,050 0.20353 Industria de Diseno Textil EUR 11,870 0.18119 Inmobiliaria Colonial EUR 908 0.02194 Mapfre EUR 592 0.01152 Merlin Properties Socimi EUR 1,678 0.03132 Red Electrica EUR 2,417 0.04406 Repsol EUR 5,435 0.08


124






Currency Market

Value

% of

Net

Assets



135,425 2.07Sweden



120 Castellum SEK 1,541 0.0288 Electrolux – B – SEK 2,526 0.04

177 Essity – B – SEK 4,233 0.0666 Fabege SEK 1,103 0.0242 Fastighets Balder – B – SEK 895 0.0136 Getinge – B – SEK 616 0.01

324 Hennes & Mauritz – B – SEK 7,068 0.1174 Hexagon – B – SEK 3,096 0.0550 Hufvudstaden – A – SEK 723 0.01

115 Husqvarna – B – SEK 998 0.0216 ICA Gruppen SEK 533 0.0133 Industrivarden – C – SEK 697 0.01


967 Nordea Bank SEK 10,774 0.16377 Sandvik SEK 5,186 0.08

67 Securitas – B – SEK 995 0.01518 Skandinaviska Enskilda Banken – A – SEK 5,490 0.08127 Skanska – B – SEK 2,627 0.04129 SKF – B – SEK 2,283 0.03521 Svenska Handelsbanken – A – SEK 6,532 0.10269 Swedbank – A – SEK 5,740 0.09


1,047 Telefonaktiebolaget LM Ericsson – B – SEK 6,559 0.10930 Telia SEK 3,750 0.06530 Volvo – B – SEK 7,915 0.12




– CHF 1,836 0.0326 Chubb USD 3,307 0.05


801 Credit Suisse Group CHF 10,159 0.159 Dufry CHF 1,306 0.023 EMS-Chemie Holding CHF 2,168 0.035 Garmin USD 222 0.00





14 Pargesa Holding CHF 951 0.016 Partners Group Holding CHF 3,224 0.05










Currency Market

Value

% of

Net

Assets


11 Swiss Life Holding CHF 3,244 0.0552 Swiss Prime Site CHF 4,122 0.06

111 Swiss Re CHF 8,873 0.139 Swisscom CHF 3,743 0.06

19 TE Connectivity USD 1,289 0.021,184 UBS Group CHF 17,611 0.27

11 Vifor Pharma CHF 1,079 0.028 Weatherford International USD 27 0.00









604 British American Tobacco GBP 35,981 0.55773 British Land GBP 5,332 0.08

2,889 BT Group GBP 9,697 0.15125 Bunzl GBP 3,251 0.05150 Burberry Group GBP 2,833 0.04276 Capita GBP 2,171 0.03242 Capital & Counties Properties GBP 808 0.01

1,777 Centrica GBP 4,052 0.06380 CNH Industrial EUR 3,764 0.06988 Cobham GBP 1,458 0.02


50 Croda International GBP 2,215 0.0314 Delphi Automotive USD 1,064 0.0256 Derwent London GBP 1,687 0.03

820 Diageo GBP 21,193 0.32452 Direct Line Insurance Group GBP 1,829 0.03364 Dixons Carphone GBP 1,176 0.02


1,564 GlaxoSmithKline GBP 29,126 0.44156 Great Portland Estates GBP 1,061 0.02645 Hammerson GBP 4,221 0.06


27 IHS Markit USD 1,057 0.02112 IMI GBP 1,526 0.02314 Imperial Brands GBP 12,326 0.19177 Inmarsat GBP 1,555 0.02






1,809 Legal & General Group GBP 5,322 0.0822 Liberty Global – A – USD 612 0.0132 Liberty Global – C – USD 879 0.01



125






Currency Market

Value

% of

Net

Assets







811 Prudential GBP 16,267 0.25215 Reckitt Benckiser Group GBP 19,089 0.29330 RELX (traded in Netherlands) EUR 5,933 0.09369 RELX (traded in United Kingdom) GBP 6,970 0.11401 Rio Tinto GBP 14,792 0.23552 Rolls-Royce Holdings GBP 5,601 0.09


45 Schroders GBP 1,576 0.02804 Segro GBP 4,480 0.07

90 Severn Trent GBP 2,241 0.0385 Shaftesbury GBP 937 0.01

328 Sky GBP 3,713 0.06263 Smith & Nephew GBP 3,975 0.06147 Smiths Group GBP 2,674 0.04345 SSE GBP 5,713 0.09173 St James’s Place GBP 2,330 0.04


1,216 Taylor Wimpey GBP 2,440 0.0434 TechnipFMC USD 803 0.01


86 Travis Perkins GBP 1,419 0.02559 Tritax Big Box REIT GBP 931 0.01415 Unilever GBP 19,663 0.30533 Unilever – CVA – EUR 25,747 0.39110 UNITE Group GBP 814 0.01253 United Utilities Group GBP 2,504 0.04


6 Willis Towers Watson USD 797 0.01825 Wm Morrison Supermarkets GBP 2,266 0.03524 Worldpay Group GBP 1,879 0.03437 WPP GBP 8,033 0.12


36 3M USD 6,480 0.1097 Abbott Laboratories USD 4,150 0.0696 AbbVie USD 6,130 0.0942 Acadia Realty Trust USD 1,014 0.0240 Activision Blizzard USD 2,042 0.03




3 AGCO USD 203 0.0022 Agilent Technologies USD 1,140 0.0226 AGNC Investment USD 479 0.0116 Agree Realty USD 639 0.0113 Air Products & Chemicals USD 1,648 0.0313 Akamai Technologies USD 585 0.01

9 Albemarle USD 793 0.0148 Alexandria Real Estate Equities USD 5,028 0.0816 Alexion Pharmaceuticals USD 1,655 0.03








Currency Market

Value

% of

Net

Assets




0 AMERCO USD 143 0.0014 Ameren USD 660 0.0113 American Airlines Group USD 563 0.0117 American Assets Trust USD 589 0.0166 American Campus Communities USD 2,733 0.0430 American Electric Power USD 1,840 0.0344 American Express USD 3,267 0.05


57 American International Group USD 3,144 0.0523 American Tower USD 2,717 0.0410 American Water Works USD 697 0.01

9 Ameriprise Financial USD 980 0.027 AmerisourceBergen USD 571 0.01

14 AMETEK USD 726 0.0142 Amgen USD 6,286 0.1021 Amphenol – A – USD 1,349 0.0235 Anadarko Petroleum USD 1,376 0.0222 Analog Devices USD 1,501 0.0239 Annaly Capital Management USD 413 0.01



24 Apache USD 1,015 0.0279 Apartment Investment & Management – A – USD 2,965 0.05

303 Apple USD 38,247 0.58108 Apple Hospitality REIT USD 1,776 0.03





7 Atmos Energy USD 510 0.0111 Autodesk USD 928 0.0124 Automatic Data Processing USD 2,118 0.03



19 Baker Hughes USD 902 0.0125 Ball USD 934 0.01

586 Bank of America USD 12,462 0.1956 Bank of New York Mellon USD 2,526 0.0424 Baxter International USD 1,295 0.0247 BB&T USD 1,875 0.0313 Becton Dickinson & Co USD 2,281 0.0312 Bed Bath & Beyond USD 308 0.0072 Berkshire Hathaway – B – USD 10,731 0.1622 Best Buy USD 1,091 0.0213 Biogen USD 2,981 0.0512 BioMarin Pharmaceutical USD 986 0.02

7 BlackRock USD 2,601 0.0434 Boeing USD 5,964 0.09

8 BorgWarner USD 280 0.0085 Boston Properties USD 9,173 0.1481 Boston Scientific USD 1,959 0.0385 Brandywine Realty Trust USD 1,305 0.0299 Bristol-Myers Squibb USD 4,831 0.07

164 Brixmor Property Group USD 2,564 0.0424 Broadcom USD 4,942 0.08

8 Broadridge Financial Solutions USD 551 0.01111 Brookfield Property Partners CAD 2,299 0.04


126






Currency Market

Value

% of

Net

Assets


17 Brown-Forman – B – USD 714 0.0111 Bunge USD 699 0.0124 CA USD 721 0.0131 Cabot Oil & Gas USD 690 0.0110 Cadence Design Systems USD 296 0.0050 Camden Property Trust USD 3,773 0.0615 Campbell Soup USD 701 0.0128 Capital One Financial USD 2,022 0.0318 Cardinal Health USD 1,259 0.0243 Care Capital Properties USD 1,000 0.0234 CareTrust REIT USD 557 0.0115 CarMax USD 818 0.0159 Carnival (traded in United Kingdom) GBP 3,432 0.0520 Carnival (traded in United States) USD 1,124 0.0235 Caterpillar USD 3,290 0.0596 CBL & Associates Properties USD 709 0.01

7 CBOE Holdings USD 543 0.0123 CBRE Group – A – USD 735 0.0124 CBS – B – USD 1,361 0.0210 CDK Global USD 525 0.01

6 CDW USD 308 0.0010 Celanese – A – USD 873 0.0146 Celgene USD 5,245 0.0812 Centene USD 813 0.0131 CenterPoint Energy USD 749 0.0123 CenturyLink USD 491 0.0113 Cerner USD 782 0.01

7 CF Industries Holdings USD 182 0.006 CH Robinson Worldwide USD 368 0.01

70 Charles Schwab USD 2,628 0.0413 Charter Communications – A – USD 3,711 0.0620 Chatham Lodging Trust USD 349 0.01

7 Cheniere Energy USD 318 0.0028 Chesapeake Lodging Trust USD 609 0.01


22 Church & Dwight USD 994 0.0213 Cigna USD 1,971 0.03




23 Citizens Financial Group USD 725 0.0112 Citrix Systems USD 826 0.01

6 Clorox USD 709 0.0123 CME Group USD 2,474 0.0421 CMS Energy USD 866 0.0119 Coach USD 790 0.01

243 Coca-Cola USD 9,550 0.1531 Cognizant Technology Solutions – A – USD 1,830 0.0349 Colgate-Palmolive USD 3,157 0.0513 Colony NorthStar – A – USD 166 0.0052 Colony Starwood Homes USD 1,572 0.0264 Columbia Property Trust USD 1,256 0.02

275 Comcast – A – USD 9,399 0.147 Comerica USD 432 0.01

13 CommScope Holding USD 437 0.0120 Conagra Brands USD 640 0.0110 Concho Resources USD 1,055 0.0277 ConocoPhillips USD 2,963 0.0520 Consolidated Edison USD 1,434 0.0210 Constellation Brands – A – USD 1,739 0.03



220 Cousins Properties USD 1,696 0.033 CR Bard USD 958 0.01









Currency Market

Value

% of

Net

Assets



9 Darden Restaurants USD 719 0.0113 DaVita USD 716 0.0148 DCT Industrial Trust USD 2,266 0.03

165 DDR USD 1,315 0.0217 Deere & Co USD 1,832 0.0317 Dell Technologies – V – USD 912 0.0115 Delta Air Lines USD 694 0.0110 Dentsply Sirona USD 546 0.0126 Devon Energy USD 730 0.01




11 DISH Network – A – USD 617 0.0113 Dollar General USD 820 0.0116 Dollar Tree USD 999 0.0233 Dominion Energy USD 2,237 0.03

2 Domino’s Pizza USD 356 0.0170 Douglas Emmett USD 2,339 0.0410 Dover USD 732 0.0167 Dow Chemical USD 3,680 0.0624 DR Horton USD 729 0.0112 Dr Pepper Snapple Group USD 991 0.02

9 DTE Energy USD 817 0.0139 Duke Energy USD 2,829 0.04

199 Duke Realty USD 4,882 0.0740 DuPont Fabros Technology USD 2,154 0.0317 DXC Technology USD 1,168 0.02

9 E*TRADE Financial USD 315 0.0010 East West Bancorp USD 498 0.0112 Easterly Government Properties USD 223 0.0015 EastGroup Properties USD 1,107 0.0211 Eastman Chemical USD 835 0.0129 Eaton USD 2,007 0.03

2 Eaton Vance USD 82 0.0059 eBay USD 1,807 0.0314 Ecolab USD 1,662 0.0317 Edison International USD 1,140 0.0239 Education Realty Trust USD 1,332 0.0210 Edwards Lifesciences USD 1,068 0.0251 EI du Pont de Nemours & Co USD 3,615 0.0616 Electronic Arts USD 1,470 0.0259 Eli Lilly & Co USD 4,264 0.0743 Emerson Electric USD 2,240 0.0357 Empire State Realty Trust – A – USD 1,038 0.0212 Entergy USD 812 0.01

4 Envision Healthcare USD 241 0.0031 EOG Resources USD 2,475 0.0436 EPR Properties USD 2,241 0.03



201 Equity Residential USD 11,609 0.1836 Essex Property Trust USD 8,046 0.1215 Estee Lauders Cos – A – USD 1,226 0.0216 Eversource Energy USD 827 0.0157 Exelon USD 1,794 0.03

6 Expedia USD 836 0.0112 Expeditors International of Washington USD 608 0.0133 Express Scripts Holding USD 1,867 0.0390 Extended Stay America USD 1,520 0.0270 Extra Space Storage USD 4,820 0.07


138 Facebook – A – USD 18,333 0.2815 Fastenal USD 554 0.0141 Federal Realty Investment Trust USD 4,540 0.0714 FedEx USD 2,634 0.0470 FelCor Lodging Trust USD 441 0.0121 Fidelity National Information Services USD 1,578 0.0253 Fifth Third Bancorp USD 1,201 0.02


127






Currency Market

Value

% of

Net

Assets


62 First Industrial Realty Trust USD 1,546 0.0211 First Republic Bank USD 981 0.0222 FirstEnergy USD 554 0.0111 Fiserv USD 1,144 0.02

7 FleetCor Technologies USD 838 0.0142 Flex USD 599 0.01

6 FLIR Systems USD 181 0.002 Flowserve USD 91 0.009 Fluor USD 379 0.01

10 FMC USD 638 0.0119 FNF Group USD 740 0.0110 Foot Locker USD 449 0.01


11 Fortinet USD 367 0.0124 Fortive USD 1,311 0.0212 Fortune Brands Home & Security USD 669 0.0117 Franklin Resources USD 650 0.0152 Franklin Street Properties USD 502 0.01

101 Freeport-McMoRan USD 1,064 0.021 Gap USD 19 0.006 Gartner USD 694 0.01

520 General Electric USD 12,303 0.1937 General Mills USD 1,780 0.0388 General Motors USD 2,708 0.0411 Genuine Parts USD 928 0.01

358 GGP USD 7,388 0.1177 Gilead Sciences USD 4,782 0.0730 Global Net Lease USD 581 0.0112 Global Payments USD 930 0.0122 Goldman Sachs Group USD 4,339 0.0711 Goodyear Tire & Rubber USD 339 0.0135 Government Properties Income Trust USD 562 0.0175 Gramercy Property Trust USD 1,965 0.0317 H&R Block USD 460 0.0155 Halliburton USD 2,054 0.0324 Hanesbrands USD 485 0.01


20 Hartford Financial Services Group USD 935 0.016 Hasbro USD 554 0.01

15 HCA Healthcare USD 1,171 0.02266 HCP USD 7,440 0.11

14 HD Supply Holdings USD 364 0.0153 Healthcare Realty Trust USD 1,593 0.0292 Healthcare Trust of America – A – USD 2,509 0.04

3 Helmerich & Payne USD 124 0.005 Henry Schein USD 872 0.01

14 Hersha Hospitality Trust USD 221 0.007 Hershey USD 669 0.01

22 Hess USD 837 0.0189 Hewlett Packard Enterprise USD 1,288 0.0251 Highwoods Properties USD 2,289 0.0414 Hilton Worldwide Holdings USD 751 0.01

3 HollyFrontier USD 71 0.0019 Hologic USD 762 0.0170 Home Depot USD 9,464 0.1443 Honeywell International USD 5,019 0.0811 Hormel Foods USD 317 0.0039 Host Hotels & Resorts USD 622 0.0199 HP USD 1,516 0.0272 Hudson Pacific Properties USD 2,164 0.03


1 Huntington Ingalls Industries USD 236 0.005 IDEX USD 509 0.017 IDEXX Laboratories USD 967 0.01




6 International Flavors & Fragrances USD 720 0.0119 International Paper USD 967 0.01






Currency Market

Value

% of

Net

Assets



2 Intuitive Surgical USD 1,764 0.0316 Invesco USD 507 0.0142 Investors Real Estate Trust USD 231 0.0019 Iron Mountain USD 574 0.01




15 Juniper Networks USD 370 0.017 Kansas City Southern USD 670 0.01

12 Kellogg USD 733 0.0149 KeyCorp USD 804 0.0148 Kilroy Realty USD 3,144 0.0519 Kimberly-Clark USD 2,121 0.03

242 Kimco Realty USD 3,900 0.06106 Kinder Morgan USD 1,780 0.03

39 Kite Realty Group Trust USD 652 0.0112 KLA-Tencor USD 954 0.0112 Kohl’s USD 413 0.0133 Kraft Heinz USD 2,506 0.0447 Kroger USD 959 0.0119 L Brands USD 880 0.01

3 L3 Technologies USD 469 0.0139 La Quinta Holdings USD 499 0.01

8 Laboratory of America Holdings USD 1,056 0.029 Lam Research USD 1,061 0.02

20 Las Vegas Sands USD 1,098 0.026 Lear USD 702 0.017 Leggett & Platt USD 328 0.01

10 Leidos Holdings USD 436 0.019 Lennar – A – USD 416 0.013 Lennox International USD 419 0.01

11 Leucadia National USD 257 0.0015 Level 3 Communications USD 772 0.01

106 Lexington Realty Trust USD 917 0.018 Liberty Broadband – C – USD 632 0.01

33 Liberty Interactive QVC Group – A – USD 704 0.015 Liberty Media Corp-Liberty SiriusXM – A – USD 174 0.00

14 Liberty Media Corp-Liberty SiriusXM – C – USD 495 0.0187 Liberty Property Trust USD 3,089 0.0525 Life Storage USD 1,594 0.0211 Lincoln National USD 669 0.0111 LKQ USD 310 0.0015 Lockheed Martin USD 3,716 0.0614 Loews USD 563 0.0148 Lowe’s Cos USD 3,297 0.0521 LTC Properties USD 932 0.0117 LyondellBasell Industries – A – USD 1,273 0.02

9 M&T Bank USD 1,297 0.0266 Macerich USD 3,341 0.0540 Mack-Cali Realty USD 954 0.01

8 Macquarie Infrastructure USD 579 0.016 Macy’s USD 129 0.007 Mallinckrodt USD 282 0.007 ManpowerGroup USD 646 0.01



5 Martin Marietta Materials USD 899 0.0122 Masco USD 743 0.0158 Mastercard – A – USD 6,158 0.0920 Mattel USD 385 0.0113 Maxim Integrated Products USD 522 0.01





128






Currency Market

Value

% of

Net

Assets


2 Mettler-Toledo International USD 919 0.0124 MGM Growth Properties – A – USD 621 0.0135 MGM Resorts International USD 946 0.0110 Microchip Technology USD 687 0.0167 Micron Technology USD 1,742 0.03



13 Molson Coors Brewing – B – USD 964 0.0185 Mondelez International – A – USD 3,203 0.0576 Monogram Residential Trust REIT USD 651 0.0123 Monsanto USD 2,419 0.0427 Monster Beverage USD 1,165 0.02

9 Moody’s USD 1,007 0.0282 Morgan Stanley USD 3,196 0.0525 Mosaic USD 508 0.0110 Motorola Solutions USD 771 0.01

9 MSCI USD 802 0.014 Murphy Oil USD 97 0.00

19 Mylan USD 661 0.016 Nasdaq USD 357 0.01

20 National Health Investors USD 1,414 0.0223 National Oilwell Varco USD 674 0.0179 National Retail Properties USD 2,700 0.0421 National Storage Affiliates Trust USD 426 0.0120 Navient USD 299 0.0022 NetApp USD 775 0.0125 Netflix USD 3,334 0.0512 New York Community Bancorp USD 136 0.0080 New York REIT USD 604 0.0124 Newell Brands USD 1,143 0.0215 Newfield Exploration USD 378 0.0126 Newmont Mining USD 729 0.0130 News – A – USD 355 0.0126 NextEra Energy USD 3,190 0.0515 Nielsen Holdings USD 492 0.0184 NIKE – B – USD 4,320 0.0722 NiSource USD 484 0.0133 Noble Energy USD 813 0.01

0 Nordstrom USD 19 0.0018 Norfolk Southern USD 1,914 0.0312 Northern Trust USD 995 0.0211 Northrop Grumman USD 2,497 0.0432 NorthStar Realty Europe USD 354 0.01


0 NVR USD 757 0.0149 Occidental Petroleum USD 2,581 0.0411 OGE Energy USD 332 0.01

100 Omega Healthcare Investors USD 2,898 0.0411 Omnicom Group USD 765 0.01

8 ONEOK USD 348 0.01173 Oracle USD 7,609 0.12

6 O’Reilly Automotive USD 1,225 0.0220 PACCAR USD 1,174 0.02

3 Packaging of America USD 323 0.007 Palo Alto Networks USD 802 0.01

102 Paramount Group USD 1,431 0.028 Parker-Hannifin USD 1,085 0.02

17 Parkway USD 332 0.0118 Parsley Energy – A – USD 443 0.01

4 Pattersons Cos USD 167 0.0022 Paychex USD 1,098 0.0263 PayPal Holdings USD 2,977 0.0533 Pennsylvania Real Estate Investment Trust USD 330 0.0113 People’s United Financial USD 198 0.0085 PepsiCo USD 8,605 0.13

346 Pfizer USD 10,200 0.1631 PG&E USD 1,812 0.0388 Philip Morris International USD 9,062 0.1429 Phillips 66 USD 2,118 0.0373 Physicians Realty Trust USD 1,280 0.0278 Piedmont Office Realty Trust – A – USD 1,433 0.02







Currency Market

Value

% of

Net

Assets






290 Prologis USD 14,934 0.2328 Prudential Financial USD 2,664 0.04

9 PS Business Parks USD 1,047 0.0225 Public Service Enterprise Group USD 953 0.0183 Public Storage USD 15,264 0.23

6 PulteGroup USD 122 0.004 PVH USD 388 0.01

10 Qorvo USD 539 0.0124 QTS Realty Trust – A – USD 1,113 0.0288 QUALCOMM USD 4,273 0.0750 Quality Care Properties USD 806 0.01


42 Ramco-Gershenson Properties Trust USD 478 0.0114 Range Resources USD 288 0.00






55 Retail Opportunity Investments USD 917 0.01127 Retail Properties of America – A – USD 1,364 0.02

34 Rexford Industrial Realty USD 815 0.0149 Reynolds American USD 2,800 0.0464 RLJ Lodging Trust USD 1,112 0.0213 Robert Half International USD 527 0.01

7 Rockwell Automation USD 1,060 0.0213 Rockwell Collins USD 1,193 0.02

7 Roper Technologies USD 1,437 0.0227 Ross Stores USD 1,387 0.02

8 Royal Caribbean Cruises USD 753 0.0116 S&P Global USD 2,039 0.0334 Sabra Health Care REIT USD 720 0.01


6 SBA Communications USD 661 0.0110 SCANA USD 609 0.0179 Schlumberger USD 4,538 0.07

3 Scripps Networks Interactive – A – USD 167 0.0023 Seagate Technology USD 774 0.0115 Sealed Air USD 590 0.01


29 Select Income REIT USD 621 0.0114 Sempra Energy USD 1,389 0.02


13 Seritage Growth Properties – A – USD 477 0.0110 ServiceNow USD 959 0.01








129






Currency Market

Value

% of

Net

Assets


12 SS&C Technologies Holdings USD 391 0.0141 STAG Industrial USD 997 0.0211 Stanley Black & Decker USD 1,413 0.02

7 Staples USD 58 0.0087 Starbucks USD 4,473 0.0722 State Street USD 1,745 0.0316 Steel Dynamics USD 512 0.01

2 Stericycle USD 153 0.0082 Store Capital USD 1,619 0.0220 Stryker USD 2,389 0.0459 Summit Hotel Properties USD 957 0.0137 Sun Communities USD 2,822 0.0426 SunTrust Banks USD 1,274 0.02

4 SVB Financial Group USD 543 0.0128 Symantec USD 691 0.0152 Synchrony Financial USD 1,347 0.02

6 Synopsys USD 413 0.0126 Sysco USD 1,139 0.0213 T Rowe Price Group USD 829 0.0150 Tanger Factory Outlet Centers USD 1,150 0.0218 Targa Resources USD 719 0.0134 Target USD 1,546 0.0224 Taubman Centers USD 1,274 0.02

9 TD Ameritrade Holding USD 350 0.011 Teleflex USD 254 0.00

23 Terreno Realty USD 685 0.017 Tesla USD 2,196 0.038 Tesoro USD 670 0.01

60 Texas Instruments USD 4,024 0.0622 Thermo Fisher Scientific USD 3,369 0.0533 Tier REIT USD 540 0.0110 Tiffany & Co USD 792 0.0145 Time Warner USD 3,998 0.0635 TJX Cos USD 2,231 0.0314 T-Mobile USD 764 0.01




6 TripAdvisor USD 202 0.0056 Twenty-First Century Fox – A – USD 1,398 0.0234 Twenty-First Century Fox – B – USD 819 0.0143 Twitter USD 671 0.0113 Tyson Foods – A – USD 701 0.01

149 UDR USD 5,106 0.089 UGI USD 367 0.013 Ulta Salon Cosmetics & Fragrance USD 712 0.01

11 Under Armour – A – USD 209 0.005 Under Armour – C – USD 85 0.00


43 United Parcel Service – B – USD 4,212 0.068 United Rentals USD 820 0.01


57 UnitedHealth Group USD 9,253 0.147 Universal Health Services – B – USD 733 0.01

18 Unum Group USD 742 0.0154 Urban Edge Properties USD 1,131 0.02

100 US Bancorp USD 4,557 0.073 Vail Resorts USD 479 0.01

27 Valero Energy USD 1,623 0.0212 Vantiv – A – USD 662 0.01

7 Varian Medical Systems USD 657 0.015 VCA USD 442 0.017 Veeva Systems – A – USD 385 0.01



237 Verizon Communications USD 9,284 0.1413 Vertex Pharmaceuticals USD 1,429 0.0218 VF USD 909 0.0118 Viacom – B – USD 526 0.01

107 Visa – A – USD 8,808 0.13






Currency Market

Value

% of

Net

Assets




57 Walgreens Boots Alliance USD 3,943 0.0688 Wal-Mart Stores USD 5,852 0.0989 Walt Disney USD 8,325 0.1383 Washington Prime Group USD 613 0.0136 Washington Real Estate Investment Trust USD 998 0.0229 Waste Management USD 1,838 0.03

5 Waters USD 881 0.0115 WEC Energy Group USD 788 0.0155 Weingarten Realty Investors USD 1,464 0.02

279 Wells Fargo & Co USD 13,550 0.21204 Welltower USD 13,376 0.20

11 Westar Energy USD 502 0.0118 Western Digital USD 1,425 0.0237 Western Union USD 626 0.0119 WestRock USD 962 0.0139 Weyerhaeuser USD 1,140 0.02

5 Whirlpool USD 851 0.0124 Whole Foods Market USD 904 0.0154 Williams Cos USD 1,426 0.02

9 Workday – A – USD 766 0.0150 WP Carey USD 2,909 0.04

9 WR Berkley USD 574 0.012 WW Grainger USD 293 0.008 Wyndham Worldwide USD 735 0.016 Wynn Resorts USD 731 0.01

26 Xcel Energy USD 1,053 0.0216 Xerox USD 414 0.0119 Xilinx USD 1,092 0.0214 Xylem USD 663 0.0117 Yum! Brands USD 1,129 0.0215 Zayo Group Holdings USD 419 0.01


1,416,810 21.64



226,358 3.46Ireland













130



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet








131






Currency Market

Value

% of

Net

Assets



10 0.01Australia

11 BHP Billiton GBP 149 0.143 BWP Trust AUD 7 0.012 Charter Hall Retail REIT AUD 6 0.01

13 Cromwell Property Group AUD 8 0.018 Dexus AUD 52 0.05

15 Goodman Group AUD 78 0.0715 GPT Group AUD 47 0.04

4 Investa Office Fund AUD 11 0.0129 Mirvac Group AUD 42 0.0443 Scentre Group AUD 118 0.11

5 Shopping Centres Australasia Property Group AUD 7 0.0119 Stockland AUD 56 0.0520 Vicinity Centres AUD 36 0.0316 Westfield AUD 84 0.08

701 0.66Austria

0 ANDRITZ EUR 21 0.021 BUWOG EUR 22 0.021 Erste Group Bank EUR 45 0.047 IMMOFINANZ EUR 13 0.011 OMV EUR 31 0.031 Raiffeisen Bank International EUR 22 0.020 voestalpine EUR 17 0.02

171 0.16Belgium

1 Ageas EUR 30 0.034 Anheuser-Busch InBev EUR 381 0.360 Cofinimmo EUR 16 0.010 Colruyt EUR 15 0.011 Groupe Bruxelles Lambert EUR 37 0.031 KBC Group EUR 93 0.091 Proximus EUR 19 0.021 Solvay EUR 53 0.050 Telenet Group Holding EUR 8 0.011 UCB EUR 48 0.050 Umicore EUR 25 0.02

725 0.68Bermuda


37 0.03Brazil


41 0.04Canada


1 Artis Real Estate Investment Trust CAD 11 0.010 Boardwalk Real Estate Investment Trust CAD 10 0.011 Canadian Apartment Properties REIT CAD 26 0.021 Canadian Real Estate Investment Trust CAD 19 0.022 Chartwell Retirement Residences CAD 16 0.021 Cominar Real Estate Investment Trust CAD 12 0.011 Dream Office Real Estate Investment Trust CAD 12 0.011 First Capital Realty CAD 16 0.020 Granite Real Estate Investment CAD 12 0.012 H&R Real Estate Investment Trust CAD 36 0.030 lululemon Athletica USD 5 0.002 Pure Industrial Real Estate Trust CAD 8 0.013 RioCan Real Estate Investment Trust CAD 42 0.041 Smart Real Estate Investment Trust CAD 19 0.020 Waste Connections USD 14 0.01

277 0.26Chile


24 0.02






Currency Market

Value

% of

Net

Assets

SHARES EUR %Denmark

0 AP Moeller - Maersk – A – DKK 25 0.020 AP Moeller - Maersk – B – DKK 58 0.061 Carlsberg – B – DKK 51 0.050 Chr Hansen Holding DKK 34 0.031 Coloplast – B – DKK 44 0.044 Danske Bank DKK 138 0.131 DONG Energy DKK 32 0.031 DSV DKK 57 0.050 Genmab DKK 60 0.060 H Lundbeck DKK 23 0.021 ISS DKK 22 0.029 Novo Nordisk – B – DKK 350 0.331 Novozymes – B – DKK 45 0.041 Pandora DKK 46 0.046 TDC DKK 29 0.030 Tryg DKK 3 0.001 Vestas Wind Systems DKK 100 0.091 William Demant Holding DKK 18 0.02

1,135 1.06Finland

0 Elisa EUR 18 0.022 Fortum EUR 28 0.032 Kone – B – EUR 84 0.081 Metso EUR 21 0.021 Neste EUR 19 0.02

31 Nokia EUR 165 0.151 Nokian Renkaat EUR 28 0.021 Orion – B – EUR 31 0.032 Sampo – A – EUR 111 0.102 Stora Enso – R – EUR 28 0.033 UPM-Kymmene EUR 74 0.071 Wartsila EUR 42 0.04

649 0.61France

1 Accor EUR 44 0.040 Aeroports de Paris EUR 17 0.022 Air Liquide EUR 221 0.213 Airbus EUR 220 0.211 Alstom EUR 31 0.030 Arkema EUR 32 0.031 Atos EUR 67 0.06

10 AXA EUR 237 0.226 BNP Paribas EUR 376 0.353 Bollore EUR 12 0.011 Bouygues EUR 44 0.042 Bureau Veritas EUR 29 0.031 Capgemini EUR 71 0.073 Carrefour EUR 66 0.060 Casino Guichard Perrachon EUR 23 0.023 Cie de Saint-Gobain EUR 130 0.121 Cie Generale des Etablissements Michelin EUR 111 0.101 CNP Assurances EUR 10 0.016 Credit Agricole EUR 79 0.073 Danone EUR 197 0.190 Dassault Aviation EUR 18 0.021 Dassault Systemes EUR 45 0.041 Edenred EUR 26 0.020 Eiffage EUR 33 0.033 Electricite de France EUR 26 0.029 Engie EUR 117 0.111 Essilor International EUR 129 0.120 Eurazeo EUR 8 0.011 Eutelsat Communications EUR 26 0.020 Fonciere Des Regions EUR 32 0.031 Gecina EUR 76 0.073 Groupe Eurotunnel EUR 27 0.030 Hermes International EUR 75 0.070 ICADE EUR 26 0.030 Iliad EUR 33 0.030 Imerys EUR 15 0.010 Ingenico Group EUR 24 0.020 Ipsen EUR 30 0.031 JCDecaux EUR 13 0.010 Kering EUR 115 0.113 Klepierre EUR 95 0.090 Lagardere EUR 12 0.011 Legrand EUR 81 0.08


132






Currency Market

Value

% of

Net

Assets


1 L’Oreal EUR 242 0.231 LVMH Moet Hennessy Louis Vuitton EUR 313 0.296 Natixis EUR 34 0.03

11 Orange EUR 154 0.151 Pernod Ricard EUR 138 0.133 Peugeot EUR 49 0.051 Publicis Groupe EUR 71 0.070 Remy Cointreau EUR 15 0.011 Renault EUR 76 0.072 Rexel EUR 24 0.022 Safran EUR 132 0.126 Sanofi EUR 521 0.493 Schneider Electric EUR 192 0.181 SCOR EUR 38 0.040 SEB EUR 26 0.030 Societe BIC EUR 19 0.024 Societe Generale EUR 182 0.170 Sodexo EUR 50 0.052 Suez EUR 24 0.021 Thales EUR 56 0.05

13 TOTAL EUR 540 0.511 Unibail-Rodamco EUR 270 0.250 Unibail-Rodamco (traded in Netherlands) EUR 19 0.021 Valeo EUR 68 0.063 Veolia Environnement EUR 54 0.053 Vinci EUR 190 0.185 Vivendi EUR 101 0.100 Wendel EUR 13 0.011 Zodiac Aerospace EUR 29 0.03

6,739 6.33Germany

1 adidas EUR 158 0.152 Allianz EUR 420 0.391 alstria office REIT EUR 13 0.010 Axel Springer EUR 17 0.025 BASF EUR 385 0.364 Bayer EUR 501 0.472 Bayerische Motoren Werke EUR 150 0.140 Bayerische Motoren Werke – Pref – EUR 22 0.021 Beiersdorf EUR 47 0.041 Brenntag EUR 43 0.046 Commerzbank EUR 62 0.061 Continental EUR 105 0.101 Covestro EUR 38 0.045 Daimler EUR 314 0.30

10 Deutsche Bank EUR 161 0.151 Deutsche Boerse EUR 99 0.090 Deutsche Euroshop EUR 14 0.012 Deutsche Lufthansa EUR 29 0.035 Deutsche Post EUR 164 0.15

17 Deutsche Telekom EUR 272 0.265 Deutsche Wohnen EUR 154 0.14

12 E.ON EUR 101 0.101 Evonik Industries EUR 17 0.020 Fraport Frankfurt Airport Services

Worldwide EUR 18 0.022 Fresenius & Co EUR 156 0.151 Fresenius Medical Care & Co EUR 99 0.090 FUCHS PETROLUB – Pref – EUR 21 0.021 GEA Group EUR 36 0.030 Hannover Rueck EUR 29 0.031 HeidelbergCement EUR 70 0.071 Henkel & Co EUR 57 0.051 Henkel & Co – Pref – EUR 121 0.110 HOCHTIEF EUR 21 0.020 HUGO BOSS EUR 15 0.016 Infineon Technologies EUR 118 0.111 Innogy EUR 26 0.021 K+S EUR 29 0.031 LANXESS EUR 38 0.041 LEG Immobilien EUR 38 0.041 Linde EUR 154 0.140 MAN EUR 18 0.021 Merck EUR 66 0.061 METRO EUR 35 0.03






Currency Market

Value

% of

Net

Assets


1 MuenchenerRueckversicherungs-Gesellschaft inMuenchen EUR 158 0.15

1 OSRAM Licht EUR 32 0.031 Porsche Automobil Holding – Pref – EUR 34 0.031 ProSiebenSat.1 Media EUR 47 0.042 RWE EUR 42 0.045 SAP EUR 480 0.450 Schaeffler – Pref – EUR 5 0.004 Siemens EUR 478 0.451 Symrise EUR 47 0.041 TAG Immobilien EUR 14 0.012 Telefonica Deutschland Holding EUR 10 0.012 thyssenkrupp EUR 51 0.053 TUI GBP 37 0.041 United Internet EUR 31 0.030 Volkswagen EUR 17 0.021 Volkswagen – Pref – EUR 138 0.136 Vonovia EUR 213 0.201 Zalando EUR 23 0.02

6,308 5.92Hong Kong

6 Hang Lung Group HKD 20 0.0218 Hang Lung Properties HKD 40 0.04

9 Henderson Land Development HKD 45 0.0410 Hongkong Land Holdings USD 64 0.06

5 Hysan Development HKD 21 0.0218 Link REIT HKD 118 0.1126 Sino Land HKD 37 0.03

9 Swire Properties HKD 27 0.0310 Wharf Holdings HKD 73 0.07

7 Wheelock & Co HKD 46 0.04

491 0.46Ireland

1 Accenture – A – USD 64 0.061 AerCap Holdings USD 24 0.020 Alkermes USD 4 0.000 Allegion USD 7 0.01

147 Bank of Ireland EUR 34 0.035 CRH EUR 144 0.141 DCC GBP 39 0.040 Jazz Pharmaceuticals USD 5 0.001 Kerry Group – A – EUR 63 0.061 Medtronic USD 104 0.100 Paddy Power Betfair EUR 45 0.040 Perrigo USD 9 0.011 Ryanair Holdings EUR 18 0.02

560 0.53Italy

7 Assicurazioni Generali EUR 99 0.092 Atlantia EUR 59 0.06

43 Enel EUR 201 0.1913 Eni EUR 177 0.17

1 Ferrari EUR 51 0.0567 Intesa Sanpaolo EUR 186 0.17

6 Intesa Sanpaolo – RSP – EUR 16 0.011 Luxottica Group EUR 39 0.042 Mediobanca EUR 20 0.023 Poste Italiane EUR 17 0.021 Prysmian EUR 35 0.031 Recordati EUR 25 0.023 Saipem EUR 11 0.01

13 Snam EUR 48 0.0552 Telecom Italia EUR 42 0.0436 Telecom Italia – RSP – EUR 24 0.02

8 Terna Rete Elettrica Nazionale EUR 38 0.0411 UniCredit EUR 173 0.16

8 UnipolSai Assicurazioni EUR 15 0.01

1,276 1.20Japan

0 Activia Properties JPY 19 0.020 Advance Residence Investment JPY 24 0.021 Aeon Mall JPY 14 0.010 AEON REIT Investment JPY 10 0.015 Daiwa House Industry JPY 154 0.140 Daiwa House REIT Investment JPY 25 0.02


133






Currency Market

Value

% of

Net

Assets


0 Daiwa Office Investment JPY 13 0.010 Frontier Real Estate Investment JPY 14 0.010 GLP J-REIT JPY 20 0.024 Hulic JPY 41 0.040 Hulic REIT JPY 11 0.010 Industrial & Infrastructure Fund Investment JPY 12 0.010 Invincible Investment JPY 11 0.010 Japan Excellent JPY 9 0.010 Japan Hotel REIT Investment JPY 18 0.020 Japan Logistics Fund JPY 15 0.010 Japan Prime Realty Investment JPY 21 0.020 Japan Real Estate Investment JPY 48 0.050 Japan Rental Housing Investments JPY 9 0.010 Japan Retail Fund Investment JPY 34 0.030 Kenedix Office Investment JPY 14 0.010 Kenedix Retail REIT JPY 7 0.010 LaSalle Logiport REIT JPY 8 0.01

11 Mitsubishi Estate JPY 174 0.167 Mitsui Fudosan JPY 157 0.150 Mori Hills REIT Investment JPY 13 0.010 Mori Trust Sogo REIT JPY 10 0.010 Nippon Accommodations Fund JPY 15 0.010 Nippon Building Fund JPY 49 0.050 Nippon Prologis REIT JPY 24 0.020 Nomura Real Estate Master Fund JPY 37 0.041 NTT Urban Development JPY 9 0.010 Orix JREIT JPY 27 0.030 Premier Investment JPY 8 0.014 Sumitomo Realty & Development JPY 99 0.092 Tokyo Tatemono JPY 19 0.020 United Urban Investment JPY 30 0.03

1,222 1.15Jersey

0 Randgold Resources GBP 39 0.04

39 0.04Jordan


13 0.01Luxembourg

4 ArcelorMittal EUR 70 0.070 Eurofins Scientific EUR 32 0.031 Grand City Properties EUR 16 0.010 Millicom International Cellular – SDR – SEK 10 0.010 RTL Group EUR 17 0.022 SES EUR 47 0.042 Tenaris EUR 27 0.02

219 0.20Mexico

23 Fibra Uno Administracion MXN 39 0.042 Fresnillo GBP 26 0.02

65 0.06Netherlands

11 Aegon EUR 48 0.051 Akzo Nobel EUR 107 0.102 Altice – A – EUR 48 0.051 Altice – B – EUR 11 0.012 ASML Holding EUR 225 0.211 Boskalis Westminster EUR 17 0.020 Core Laboratories USD 4 0.001 EXOR EUR 31 0.030 Gemalto EUR 18 0.021 Heineken EUR 108 0.101 Heineken Holding EUR 47 0.04

20 ING Groep EUR 309 0.297 Koninklijke Ahold Delhaize EUR 119 0.111 Koninklijke DSM EUR 55 0.05

16 Koninklijke KPN EUR 44 0.045 Koninklijke Philips EUR 153 0.140 Koninklijke Vopak EUR 13 0.012 NN Group EUR 47 0.042 NXP Semiconductors USD 175 0.171 QIAGEN EUR 30 0.030 Randstad Holding EUR 24 0.02

23 Royal Dutch Shell – A – GBP 542 0.5120 Royal Dutch Shell – B – GBP 464 0.44






Currency Market

Value

% of

Net

Assets


0 Wereldhave EUR 12 0.012 Wolters Kluwer EUR 62 0.06

2,713 2.55Norway

5 DNB NOK 81 0.081 Gjensidige Forsikring NOK 20 0.023 Marine Harvest NOK 38 0.048 Norsk Hydro NOK 36 0.034 Orkla NOK 32 0.030 Schibsted – A – NOK 0 0.000 Schibsted – B – NOK 1 0.006 Statoil NOK 91 0.084 Telenor NOK 56 0.051 Yara International NOK 31 0.03

386 0.36Philippines

81 SM Prime Holdings PHP 46 0.04

46 0.04Portugal

11 EDP - Energias de Portugal EUR 33 0.033 Galp Energia EUR 36 0.031 Jeronimo Martins EUR 17 0.02

86 0.08Romania


20 0.02Singapore

20 Ascendas Real Estate Investment Trust SGD 33 0.0321 CapitaLand SGD 48 0.0418 CapitaLand Commercial Trust SGD 19 0.0223 CapitaLand Mall Trust SGD 28 0.03

4 City Developments SGD 28 0.0322 Global Logistic Properties SGD 41 0.0411 Mapletree Commercial Trust SGD 11 0.0120 Suntec Real Estate Investment Trust SGD 23 0.02

231 0.22South Africa

19 Growthpoint Properties ZAR 32 0.032 Hyprop Investments ZAR 15 0.014 Investec GBP 27 0.023 Mediclinic International GBP 21 0.022 Mondi GBP 51 0.05

43 Redefine Properties ZAR 30 0.032 Resilient REIT ZAR 17 0.02

193 0.18Spain

4 Abertis Infraestructuras EUR 62 0.061 ACS Actividades de Construccion y

Servicios EUR 50 0.051 ACS Actividades de Construccion y

Servicios – Rights – EUR 1 0.000 Aena EUR 61 0.062 Amadeus IT Group EUR 121 0.11

34 Banco Bilbao Vizcaya Argentaria EUR 248 0.2330 Banco de Sabadell EUR 53 0.0578 Banco Santander EUR 451 0.42

7 Bankia EUR 30 0.033 Bankinter EUR 23 0.02

20 CaixaBank EUR 83 0.083 Distribuidora Internacional de Alimentacion EUR 15 0.011 Enagas EUR 25 0.021 Endesa EUR 27 0.033 Ferrovial EUR 57 0.052 Gamesa Technologica EUR 30 0.032 Gas Natural SDG EUR 32 0.031 Grifols EUR 34 0.03

31 Iberdrola EUR 213 0.206 Industria de Diseno Textil EUR 193 0.182 Inmobiliaria Colonial EUR 15 0.023 Mapfre EUR 10 0.012 Merlin Properties Socimi EUR 28 0.032 Red Electrica EUR 39 0.047 Repsol EUR 89 0.08


134






Currency Market

Value

% of

Net

Assets


7 Repsol – Rights – EUR 3 0.0024 Telefonica EUR 215 0.20

2,208 2.07Sweden

2 Alfa Laval SEK 35 0.036 Assa Abloy – B – SEK 107 0.104 Atlas Copco – A – SEK 125 0.122 Atlas Copco – B – SEK 66 0.060 Autoliv USD 9 0.011 Boliden SEK 28 0.032 Castellum SEK 25 0.021 Electrolux – B – SEK 41 0.043 Essity – B – SEK 69 0.061 Fabege SEK 18 0.021 Fastighets Balder – B – SEK 15 0.011 Getinge – B – SEK 10 0.015 Hennes & Mauritz – B – SEK 115 0.111 Hexagon – B – SEK 50 0.051 Hufvudstaden – A – SEK 12 0.012 Husqvarna – B – SEK 16 0.020 ICA Gruppen SEK 9 0.011 Industrivarden – C – SEK 11 0.012 Investor – B – SEK 98 0.091 Kinnevik – B – SEK 26 0.020 L E Lundbergforetagenn – B – SEK 18 0.021 Lundin Petroleum SEK 17 0.02

16 Nordea Bank SEK 176 0.176 Sandvik SEK 85 0.081 Securitas – B – SEK 16 0.018 Skandinaviska Enskilda Banken – A – SEK 90 0.082 Skanska – B – SEK 43 0.042 SKF – B – SEK 37 0.039 Svenska Handelsbanken – A – SEK 107 0.104 Swedbank – A – SEK 94 0.091 Swedish Match SEK 27 0.032 Tele2 – B – SEK 21 0.02

17 Telefonaktiebolaget LM Ericsson – B – SEK 107 0.1015 Telia SEK 61 0.06

9 Volvo – B – SEK 129 0.12


11 ABB CHF 228 0.211 Adecco Group CHF 60 0.060 Baloise Holding CHF 35 0.030 Barry Callebaut CHF 7 0.010 Chocoladefabriken Lindt & Spruengli CHF 36 0.031 Chubb USD 53 0.053 Cie Financiere Richemont CHF 199 0.191 Coca-Cola GBP 31 0.03

13 Credit Suisse Group CHF 166 0.160 Dufry CHF 21 0.020 EMS-Chemie Holding CHF 36 0.030 Garmin USD 4 0.000 Geberit CHF 82 0.080 Givaudan CHF 83 0.08

66 Glencore GBP 214 0.201 Julius Baer Group CHF 53 0.050 Kuehne & Nagel International CHF 34 0.032 LafargeHolcim CHF 113 0.111 Lonza Group CHF 66 0.06

17 Nestle CHF 1,247 1.1712 Novartis CHF 861 0.81

0 Pargesa Holding CHF 15 0.010 Partners Group Holding CHF 53 0.050 PSP Swiss Property CHF 24 0.024 Roche Holding CHF 829 0.780 Schindler Holding CHF 44 0.040 Schindler Holding – REG – CHF 22 0.020 SGS CHF 62 0.060 Sika CHF 56 0.050 Sonova Holding CHF 40 0.044 STMicroelectronics EUR 50 0.050 Straumann Holding CHF 31 0.030 Swatch Group CHF 57 0.050 Swatch Group – REG – CHF 12 0.010 Swiss Life Holding CHF 53 0.051 Swiss Prime Site CHF 68 0.06






Currency Market

Value

% of

Net

Assets


2 Swiss Re CHF 145 0.140 Swisscom CHF 61 0.060 TE Connectivity USD 21 0.02

19 UBS Group CHF 287 0.270 Vifor Pharma CHF 18 0.020 Weatherford International USD 0 0.002 Wolseley GBP 74 0.071 Zurich Insurance Group CHF 203 0.19


6 3i Group GBP 61 0.065 Aberdeen Asset Management GBP 17 0.021 Admiral Group GBP 26 0.026 Anglo American GBP 75 0.070 Aon USD 27 0.033 Ashtead Group GBP 55 0.052 Associated British Foods GBP 55 0.057 AstraZeneca GBP 390 0.375 Auto Trader Group GBP 23 0.02

23 Aviva GBP 136 0.132 Babcock International Group GBP 17 0.02

90 Barclays GBP 207 0.196 Barratt Developments GBP 40 0.041 Berkeley Group Holdings GBP 26 0.02

103 BP GBP 521 0.4910 British American Tobacco GBP 586 0.5513 British Land GBP 88 0.0847 BT Group GBP 158 0.15

2 Bunzl GBP 53 0.052 Burberry Group GBP 46 0.045 Capita GBP 35 0.034 Capital & Counties Properties GBP 13 0.01

29 Centrica GBP 66 0.066 CNH Industrial EUR 61 0.06

16 Cobham GBP 24 0.021 Coca-Cola European Partners EUR 48 0.058 Compass Group GBP 146 0.148 ConvaTec Group GBP 28 0.031 Croda International GBP 36 0.030 Delphi Automotive USD 17 0.021 Derwent London GBP 28 0.03

13 Diageo GBP 345 0.327 Direct Line Insurance Group GBP 30 0.036 Dixons Carphone GBP 19 0.021 easyJet GBP 17 0.025 Experian GBP 94 0.095 Fiat Chrysler Automobiles EUR 44 0.049 G4S GBP 32 0.03

10 GKN GBP 38 0.0425 GlaxoSmithKline GBP 475 0.45

3 Great Portland Estates GBP 18 0.0211 Hammerson GBP 69 0.06

1 Hargreaves Lansdown GBP 16 0.02105 HSBC Holdings GBP 850 0.80

0 IHS Markit USD 17 0.022 IMI GBP 25 0.025 Imperial Brands GBP 201 0.193 Inmarsat GBP 25 0.021 InterContinental Hotels Group GBP 39 0.044 International Consolidated Airlines Group EUR 29 0.031 Intertek Group GBP 37 0.03

11 Intu Properties GBP 35 0.0323 ITV GBP 47 0.04

9 J Sainsbury GBP 25 0.021 Johnson Matthey GBP 34 0.031 Kennedy Wilson Europe Real Estate GBP 8 0.01

10 Kingfisher GBP 34 0.0310 Land Securities Group GBP 116 0.1130 Legal & General Group GBP 87 0.08

0 Liberty Global – A – USD 10 0.011 Liberty Global – C – USD 14 0.01

377 Lloyds Banking Group GBP 284 0.272 London Stock Exchange Group GBP 69 0.066 Marks & Spencer Group GBP 24 0.025 Meggitt GBP 28 0.035 Merlin Entertainments GBP 25 0.020 Michael Kors Holdings USD 5 0.00


135






Currency Market

Value

% of

Net

Assets


18 National Grid GBP 197 0.181 Next GBP 39 0.04

27 Old Mutual GBP 60 0.064 Pearson GBP 28 0.030 Pentair USD 6 0.012 Persimmon GBP 44 0.041 Petrofac GBP 7 0.011 Provident Financial GBP 28 0.03

13 Prudential GBP 265 0.254 Reckitt Benckiser Group GBP 311 0.295 RELX (traded in Netherlands) EUR 97 0.096 RELX (traded in United Kingdom) GBP 114 0.117 Rio Tinto GBP 241 0.239 Rolls-Royce Holdings GBP 91 0.09

20 Royal Bank of Scotland Group GBP 56 0.055 Royal Mail GBP 24 0.024 RSA Insurance Group GBP 29 0.036 Sage Group GBP 47 0.041 Schroders GBP 26 0.02

13 Segro GBP 74 0.071 Severn Trent GBP 37 0.031 Shaftesbury GBP 15 0.015 Sky GBP 61 0.064 Smith & Nephew GBP 65 0.062 Smiths Group GBP 44 0.046 SSE GBP 93 0.093 St James’s Place GBP 38 0.04

18 Standard Chartered GBP 162 0.1512 Standard Life GBP 54 0.05

3 Tate & Lyle GBP 21 0.0220 Taylor Wimpey GBP 40 0.04

1 TechnipFMC USD 13 0.0140 Tesco GBP 77 0.07

1 Travis Perkins GBP 23 0.029 Tritax Big Box REIT GBP 15 0.017 Unilever GBP 320 0.309 Unilever – CVA – EUR 420 0.392 UNITE Group GBP 13 0.014 United Utilities Group GBP 41 0.04

140 Vodafone Group GBP 348 0.331 Weir Group GBP 19 0.021 Whitbread GBP 51 0.050 Willis Towers Watson USD 13 0.01

13 Wm Morrison Supermarkets GBP 37 0.039 Worldpay Group GBP 31 0.037 WPP GBP 131 0.12


1 3M USD 104 0.102 Abbott Laboratories USD 67 0.062 AbbVie USD 98 0.091 Acadia Realty Trust USD 17 0.021 Activision Blizzard USD 33 0.030 Acuity Brands USD 7 0.011 Adobe Systems USD 58 0.050 Advance Auto Parts USD 8 0.011 Advanced Micro Devices USD 11 0.011 AES USD 8 0.010 Aetna USD 48 0.050 Affiliated Managers Group USD 9 0.010 Aflac USD 22 0.020 AGCO USD 3 0.000 Agilent Technologies USD 18 0.021 AGNC Investment USD 8 0.010 Agree Realty USD 11 0.010 Air Products & Chemicals USD 26 0.020 Akamai Technologies USD 9 0.010 Albemarle USD 13 0.011 Alexandria Real Estate Equities USD 83 0.080 Alexion Pharmaceuticals USD 27 0.030 Align Technology USD 11 0.010 Alleghany USD 10 0.010 Allergan USD 64 0.060 Alliance Data Systems USD 7 0.010 Alliant Energy USD 10 0.010 Allstate USD 29 0.030 Ally Financial USD 6 0.01






Currency Market

Value

% of

Net

Assets


0 Alphabet – A – USD 227 0.210 Alphabet – C – USD 234 0.222 Altria Group USD 121 0.110 Amazon.com USD 317 0.300 AMERCO USD 2 0.000 Ameren USD 11 0.010 American Airlines Group USD 9 0.010 American Assets Trust USD 10 0.011 American Campus Communities USD 45 0.041 American Electric Power USD 29 0.031 American Express USD 52 0.050 American Financial Group USD 7 0.012 American Homes 4 Rent – A – USD 39 0.041 American International Group USD 50 0.050 American Tower USD 44 0.040 American Water Works USD 11 0.010 Ameriprise Financial USD 16 0.020 AmerisourceBergen USD 9 0.010 AMETEK USD 12 0.011 Amgen USD 101 0.090 Amphenol – A – USD 22 0.021 Anadarko Petroleum USD 22 0.020 Analog Devices USD 24 0.021 Annaly Capital Management USD 7 0.010 Ansys USD 12 0.010 Antero Resources USD 2 0.000 Anthem USD 41 0.040 AO Smith USD 3 0.000 Apache USD 16 0.021 Apartment Investment & Management – A – USD 49 0.055 Apple USD 613 0.582 Apple Hospitality REIT USD 29 0.031 Applied Materials USD 34 0.030 Aramark USD 10 0.011 Archer-Daniels-Midland USD 19 0.021 Arconic USD 9 0.010 Arista Networks USD 7 0.010 Arrow Electronics USD 2 0.000 Arthur J Gallagher & Co USD 11 0.011 Ashford Hospitality Trust USD 4 0.000 Assurant USD 3 0.006 AT&T USD 194 0.180 Atmos Energy USD 8 0.010 Autodesk USD 15 0.010 Automatic Data Processing USD 34 0.030 AutoNation USD 2 0.000 AutoZone USD 17 0.021 AvalonBay Communities USD 209 0.200 Avery Dennison USD 3 0.000 Avnet USD 1 0.000 Axalta Coating Systems USD 2 0.000 Baker Hughes USD 14 0.011 Ball USD 15 0.01

10 Bank of America USD 200 0.191 Bank of New York Mellon USD 41 0.041 Baxter International USD 21 0.021 BB&T USD 30 0.030 Becton Dickinson & Co USD 37 0.030 Bed Bath & Beyond USD 5 0.001 Berkshire Hathaway – B – USD 172 0.160 Best Buy USD 17 0.020 Biogen USD 48 0.050 BioMarin Pharmaceutical USD 16 0.020 BlackRock USD 42 0.041 Boeing USD 96 0.090 BorgWarner USD 4 0.002 Boston Properties USD 151 0.141 Boston Scientific USD 31 0.032 Brandywine Realty Trust USD 22 0.022 Bristol-Myers Squibb USD 77 0.073 Brixmor Property Group USD 42 0.040 Broadcom USD 79 0.070 Broadridge Financial Solutions USD 9 0.012 Brookfield Property Partners CAD 38 0.040 Brown-Forman – B – USD 11 0.010 Bunge USD 11 0.010 CA USD 12 0.011 Cabot Oil & Gas USD 11 0.01


136






Currency Market

Value

% of

Net

Assets


0 Cadence Design Systems USD 5 0.001 Camden Property Trust USD 62 0.060 Campbell Soup USD 11 0.011 Capital One Financial USD 32 0.030 Cardinal Health USD 20 0.021 Care Capital Properties USD 17 0.021 CareTrust REIT USD 9 0.010 CarMax USD 13 0.011 Carnival (traded in United Kingdom) GBP 56 0.050 Carnival (traded in United States) USD 18 0.021 Caterpillar USD 53 0.052 CBL & Associates Properties USD 12 0.010 CBOE Holdings USD 9 0.010 CBRE Group – A – USD 12 0.011 CBS – B – USD 22 0.020 CDK Global USD 8 0.010 CDW USD 5 0.000 Celanese – A – USD 14 0.011 Celgene USD 84 0.080 Centene USD 13 0.011 CenterPoint Energy USD 12 0.010 CenturyLink USD 8 0.010 Cerner USD 13 0.010 CF Industries Holdings USD 3 0.000 CH Robinson Worldwide USD 6 0.011 Charles Schwab USD 42 0.040 Charter Communications – A – USD 59 0.060 Chatham Lodging Trust USD 6 0.010 Cheniere Energy USD 5 0.001 Chesapeake Lodging Trust USD 10 0.012 Chevron USD 162 0.150 Chipotle Mexican Grill USD 6 0.010 Church & Dwight USD 16 0.020 Cigna USD 32 0.030 Cimarex Energy USD 8 0.010 Cincinnati Financial USD 11 0.010 Cintas USD 12 0.015 Cisco Systems USD 124 0.120 CIT Group USD 5 0.003 Citigroup USD 150 0.140 Citizens Financial Group USD 12 0.010 Citrix Systems USD 13 0.010 Clorox USD 11 0.010 CME Group USD 40 0.040 CMS Energy USD 14 0.010 Coach USD 13 0.014 Coca-Cola USD 153 0.141 Cognizant Technology Solutions – A – USD 29 0.031 Colgate-Palmolive USD 51 0.050 Colony NorthStar – A – USD 3 0.001 Colony Starwood Homes USD 26 0.021 Columbia Property Trust USD 21 0.025 Comcast – A – USD 151 0.140 Comerica USD 7 0.010 CommScope Holding USD 7 0.010 Conagra Brands USD 10 0.010 Concho Resources USD 17 0.021 ConocoPhillips USD 48 0.050 Consolidated Edison USD 23 0.020 Constellation Brands – A – USD 28 0.030 Cooper Cos USD 6 0.011 Corning USD 21 0.021 Corporate Office Properties Trust USD 23 0.020 CoStar Group USD 4 0.001 Costco Wholesale USD 56 0.051 Coty – A – USD 10 0.014 Cousins Properties USD 28 0.030 CR Bard USD 15 0.010 Crown Castle International USD 27 0.030 Crown Holdings USD 4 0.001 CSX USD 43 0.041 CubeSmart USD 29 0.030 Cummins USD 18 0.021 CVS Health USD 64 0.061 CyrusOne USD 35 0.031 Danaher USD 48 0.050 Darden Restaurants USD 11 0.010 DaVita USD 11 0.01






Currency Market

Value

% of

Net

Assets


1 DCT Industrial Trust USD 37 0.033 DDR USD 22 0.020 Deere & Co USD 29 0.030 Dell Technologies – V – USD 15 0.010 Delta Air Lines USD 11 0.010 Dentsply Sirona USD 9 0.011 Devon Energy USD 12 0.010 DexCom USD 2 0.000 Diamondback Energy USD 3 0.000 Dick’s Sporting Goods USD 0 0.002 Digital Realty Trust USD 139 0.131 Discover Financial Services USD 21 0.020 Discovery Communications – A – USD 2 0.000 Discovery Communications – C – USD 1 0.000 DISH Network – A – USD 10 0.010 Dollar General USD 13 0.010 Dollar Tree USD 16 0.021 Dominion Energy USD 36 0.030 Domino’s Pizza USD 6 0.011 Douglas Emmett USD 39 0.040 Dover USD 12 0.011 Dow Chemical USD 59 0.060 DR Horton USD 12 0.010 Dr Pepper Snapple Group USD 16 0.020 DTE Energy USD 13 0.011 Duke Energy USD 45 0.043 Duke Realty USD 80 0.081 DuPont Fabros Technology USD 36 0.030 DXC Technology USD 19 0.020 E*TRADE Financial USD 5 0.000 East West Bancorp USD 8 0.010 Easterly Government Properties USD 4 0.000 EastGroup Properties USD 18 0.020 Eastman Chemical USD 13 0.011 Eaton USD 32 0.030 Eaton Vance USD 1 0.001 eBay USD 29 0.030 Ecolab USD 27 0.030 Edison International USD 18 0.021 Education Realty Trust USD 22 0.020 Edwards Lifesciences USD 17 0.021 EI du Pont de Nemours & Co USD 58 0.050 Electronic Arts USD 24 0.021 Eli Lilly & Co USD 68 0.061 Emerson Electric USD 36 0.031 Empire State Realty Trust – A – USD 17 0.020 Entergy USD 13 0.010 Envision Healthcare USD 4 0.001 EOG Resources USD 40 0.041 EPR Properties USD 37 0.030 EQT USD 5 0.000 Equifax USD 11 0.010 Equinix USD 27 0.031 Equity Commonwealth USD 28 0.031 Equity LifeStyle Properties USD 49 0.053 Equity Residential USD 191 0.181 Essex Property Trust USD 133 0.120 Estee Lauders Cos – A – USD 20 0.020 Eversource Energy USD 13 0.011 Exelon USD 29 0.030 Expedia USD 13 0.010 Expeditors International of Washington USD 10 0.011 Express Scripts Holding USD 30 0.032 Extended Stay America USD 25 0.021 Extra Space Storage USD 79 0.074 Exxon Mobil USD 277 0.260 F5 Networks USD 9 0.012 Facebook – A – USD 294 0.280 Fastenal USD 9 0.011 Federal Realty Investment Trust USD 75 0.070 FedEx USD 42 0.041 FelCor Lodging Trust USD 7 0.010 Fidelity National Information Services USD 25 0.021 Fifth Third Bancorp USD 19 0.021 First Industrial Realty Trust USD 26 0.020 First Republic Bank USD 16 0.020 FirstEnergy USD 9 0.010 Fiserv USD 18 0.02


137






Currency Market

Value

% of

Net

Assets


0 FleetCor Technologies USD 13 0.011 Flex USD 10 0.010 FLIR Systems USD 3 0.000 Flowserve USD 1 0.000 Fluor USD 6 0.010 FMC USD 10 0.010 FNF Group USD 12 0.010 Foot Locker USD 7 0.014 Ford Motor USD 39 0.042 Forest City Realty Trust – A – USD 36 0.030 Fortinet USD 6 0.010 Fortive USD 21 0.020 Fortune Brands Home & Security USD 11 0.010 Franklin Resources USD 10 0.011 Franklin Street Properties USD 8 0.012 Freeport-McMoRan USD 17 0.020 Gap USD 0 0.000 Gartner USD 11 0.018 General Electric USD 197 0.181 General Mills USD 29 0.032 General Motors USD 43 0.040 Genuine Parts USD 15 0.016 GGP USD 122 0.111 Gilead Sciences USD 77 0.071 Global Net Lease USD 10 0.010 Global Payments USD 15 0.010 Goldman Sachs Group USD 70 0.070 Goodyear Tire & Rubber USD 5 0.001 Government Properties Income Trust USD 9 0.011 Gramercy Property Trust USD 32 0.030 H&R Block USD 7 0.011 Halliburton USD 33 0.030 Hanesbrands USD 8 0.010 Harley-Davidson USD 5 0.000 Harris USD 8 0.010 Hartford Financial Services Group USD 15 0.010 Hasbro USD 9 0.010 HCA Healthcare USD 19 0.024 HCP USD 123 0.120 HD Supply Holdings USD 6 0.011 Healthcare Realty Trust USD 26 0.022 Healthcare Trust of America – A – USD 41 0.040 Helmerich & Payne USD 2 0.000 Henry Schein USD 14 0.010 Hersha Hospitality Trust USD 4 0.000 Hershey USD 11 0.010 Hess USD 13 0.012 Hewlett Packard Enterprise USD 21 0.021 Highwoods Properties USD 38 0.040 Hilton Worldwide Holdings USD 12 0.010 HollyFrontier USD 1 0.000 Hologic USD 12 0.011 Home Depot USD 152 0.141 Honeywell International USD 80 0.080 Hormel Foods USD 5 0.001 Host Hotels & Resorts USD 10 0.012 HP USD 24 0.021 Hudson Pacific Properties USD 36 0.030 Humana USD 28 0.031 Huntington Bancshares USD 9 0.010 Huntington Ingalls Industries USD 4 0.000 IDEX USD 8 0.010 IDEXX Laboratories USD 15 0.010 Illinois Tool Works USD 37 0.030 Illumina USD 24 0.020 Incyte USD 21 0.020 Independence Realty Trust USD 3 0.000 Ingersoll-Rand USD 21 0.020 Ingredion USD 9 0.015 Intel USD 130 0.121 Intercontinental Exchange USD 34 0.031 International Business Machines USD 110 0.100 International Flavors & Fragrances USD 12 0.010 International Paper USD 15 0.011 Interpublic Group of Cos USD 11 0.010 Intuit USD 24 0.020 Intuitive Surgical USD 28 0.030 Invesco USD 8 0.01






Currency Market

Value

% of

Net

Assets


1 Investors Real Estate Trust USD 4 0.000 Iron Mountain USD 9 0.010 Jack Henry & Associates USD 8 0.010 Jacobs Engineering Group USD 2 0.000 JB Hunt Transport Services USD 4 0.000 JM Smucker USD 9 0.013 Johnson & Johnson USD 297 0.281 Johnson Controls International USD 39 0.040 Jones Lang LaSalle USD 3 0.003 JPMorgan Chase & Co USD 270 0.250 Juniper Networks USD 6 0.010 Kansas City Southern USD 11 0.010 Kellogg USD 12 0.011 KeyCorp USD 13 0.011 Kilroy Realty USD 52 0.050 Kimberly-Clark USD 34 0.034 Kimco Realty USD 64 0.062 Kinder Morgan USD 29 0.031 Kite Realty Group Trust USD 11 0.010 KLA-Tencor USD 15 0.010 Kohl’s USD 7 0.011 Kraft Heinz USD 40 0.041 Kroger USD 15 0.010 L Brands USD 14 0.010 L3 Technologies USD 7 0.011 La Quinta Holdings USD 8 0.010 Laboratory of America Holdings USD 17 0.020 Lam Research USD 17 0.020 Las Vegas Sands USD 18 0.020 Lear USD 11 0.010 Leggett & Platt USD 5 0.000 Leidos Holdings USD 7 0.010 Lennar – A – USD 7 0.010 Lennox International USD 7 0.010 Leucadia National USD 4 0.000 Level 3 Communications USD 12 0.012 Lexington Realty Trust USD 15 0.010 Liberty Broadband – C – USD 10 0.011 Liberty Interactive QVC Group – A – USD 11 0.010 Liberty Media Corp-Liberty SiriusXM – A – USD 3 0.000 Liberty Media Corp-Liberty SiriusXM – C – USD 8 0.012 Liberty Property Trust USD 51 0.051 Life Storage USD 26 0.020 Lincoln National USD 11 0.010 LKQ USD 5 0.000 Lockheed Martin USD 60 0.060 Loews USD 9 0.011 Lowe’s Cos USD 53 0.050 LTC Properties USD 15 0.010 LyondellBasell Industries – A – USD 20 0.020 M&T Bank USD 21 0.021 Macerich USD 55 0.051 Mack-Cali Realty USD 16 0.020 Macquarie Infrastructure USD 9 0.010 Macy’s USD 2 0.000 Mallinckrodt USD 5 0.000 ManpowerGroup USD 10 0.011 Marathon Oil USD 5 0.001 Marathon Petroleum USD 21 0.020 Markel USD 9 0.010 Marriott International – A – USD 28 0.031 Marsh & McLennan Cos USD 38 0.040 Martin Marietta Materials USD 14 0.010 Masco USD 12 0.011 Mastercard – A – USD 99 0.090 Mattel USD 6 0.010 Maxim Integrated Products USD 8 0.010 McCormick & Co USD 6 0.011 McDonald’s USD 100 0.090 McKesson USD 27 0.033 Medical Properties Trust USD 30 0.030 MEDNAX USD 1 0.003 Merck & Co USD 143 0.131 MetLife USD 39 0.040 Mettler-Toledo International USD 15 0.011 MGM Growth Properties – A – USD 10 0.011 MGM Resorts International USD 15 0.010 Microchip Technology USD 11 0.01


138






Currency Market

Value

% of

Net

Assets


1 Micron Technology USD 28 0.037 Microsoft USD 410 0.381 Mid-America Apartment Communities USD 91 0.090 Middleby USD 11 0.010 Mohawk Industries USD 11 0.010 Molson Coors Brewing – B – USD 15 0.011 Mondelez International – A – USD 51 0.051 Monogram Residential Trust REIT USD 11 0.010 Monsanto USD 39 0.041 Monster Beverage USD 19 0.020 Moody’s USD 16 0.021 Morgan Stanley USD 51 0.051 Mosaic USD 8 0.010 Motorola Solutions USD 12 0.010 MSCI USD 13 0.010 Murphy Oil USD 2 0.000 Mylan USD 11 0.010 Nasdaq USD 6 0.010 National Health Investors USD 23 0.020 National Oilwell Varco USD 11 0.011 National Retail Properties USD 45 0.040 National Storage Affiliates Trust USD 7 0.010 Navient USD 5 0.000 NetApp USD 12 0.011 Netflix USD 53 0.050 New York Community Bancorp USD 2 0.001 New York REIT USD 10 0.010 Newell Brands USD 18 0.020 Newfield Exploration USD 6 0.011 Newmont Mining USD 12 0.011 News – A – USD 6 0.011 NextEra Energy USD 51 0.050 Nielsen Holdings USD 8 0.011 NIKE – B – USD 69 0.060 NiSource USD 8 0.011 Noble Energy USD 13 0.010 Nordstrom USD 0 0.000 Norfolk Southern USD 31 0.030 Northern Trust USD 16 0.020 Northrop Grumman USD 40 0.041 NorthStar Realty Europe USD 6 0.010 Norwegian Cruise Line Holdings USD 3 0.000 Nuance Communications USD 3 0.000 Nucor USD 18 0.021 NVIDIA USD 65 0.060 NVR USD 13 0.011 Occidental Petroleum USD 41 0.040 OGE Energy USD 5 0.002 Omega Healthcare Investors USD 48 0.050 Omnicom Group USD 12 0.010 ONEOK USD 6 0.013 Oracle USD 122 0.110 O’Reilly Automotive USD 20 0.020 PACCAR USD 19 0.020 Packaging of America USD 5 0.000 Palo Alto Networks USD 13 0.012 Paramount Group USD 24 0.020 Parker-Hannifin USD 17 0.020 Parkway USD 5 0.000 Parsley Energy – A – USD 7 0.010 Pattersons Cos USD 3 0.000 Paychex USD 18 0.021 PayPal Holdings USD 48 0.051 Pennsylvania Real Estate Investment Trust USD 5 0.000 People’s United Financial USD 3 0.001 PepsiCo USD 138 0.136 Pfizer USD 164 0.151 PG&E USD 29 0.032 Philip Morris International USD 145 0.141 Phillips 66 USD 34 0.031 Physicians Realty Trust USD 21 0.021 Piedmont Office Realty Trust – A – USD 24 0.020 Pinnacle West Capital USD 10 0.010 Pioneer Natural Resources USD 24 0.020 Plains GP Holdings – A – USD 2 0.001 PNC Financial Services Group USD 52 0.050 Polaris Industries USD 2 0.000 PPG Industries USD 21 0.02






Currency Market

Value

% of

Net

Assets


1 PPL USD 25 0.020 Praxair USD 33 0.030 Priceline Group USD 77 0.070 Principal Financial Group USD 20 0.023 Procter & Gamble USD 183 0.171 Progressive USD 21 0.025 Prologis USD 246 0.231 Prudential Financial USD 43 0.040 PS Business Parks USD 17 0.021 Public Service Enterprise Group USD 15 0.011 Public Storage USD 251 0.240 PulteGroup USD 2 0.000 PVH USD 6 0.010 Qorvo USD 9 0.011 QTS Realty Trust – A – USD 18 0.022 QUALCOMM USD 69 0.061 Quality Care Properties USD 13 0.010 Quest Diagnostics USD 11 0.010 Quintiles IMS Holdings USD 9 0.010 Ralph Lauren USD 4 0.001 Ramco-Gershenson Properties Trust USD 8 0.010 Range Resources USD 5 0.000 Raymond James Financial USD 7 0.010 Raytheon USD 35 0.033 Realty Income USD 122 0.110 Red Hat USD 10 0.012 Regency Centers USD 81 0.080 Regeneron Pharmaceuticals USD 28 0.032 Regions Financial USD 20 0.020 Reinsurance Group of America USD 3 0.000 Republic Services USD 10 0.010 ResMed USD 6 0.011 Retail Opportunity Investments USD 15 0.012 Retail Properties of America – A – USD 23 0.021 Rexford Industrial Realty USD 13 0.011 Reynolds American USD 45 0.041 RLJ Lodging Trust USD 18 0.020 Robert Half International USD 8 0.010 Rockwell Automation USD 17 0.020 Rockwell Collins USD 19 0.020 Roper Technologies USD 23 0.021 Ross Stores USD 22 0.020 Royal Caribbean Cruises USD 12 0.010 S&P Global USD 33 0.031 Sabra Health Care REIT USD 12 0.010 Sabre USD 0 0.001 Salesforce.com USD 44 0.040 SBA Communications USD 11 0.010 SCANA USD 10 0.011 Schlumberger USD 73 0.070 Scripps Networks Interactive – A – USD 3 0.000 Seagate Technology USD 12 0.010 Sealed Air USD 9 0.010 Seattle Genetics USD 1 0.000 SEI Investments USD 2 0.001 Select Income REIT USD 10 0.010 Sempra Energy USD 22 0.022 Senior Housing Properties Trust USD 33 0.030 Sensata Technologies Holding USD 2 0.000 Seritage Growth Properties – A – USD 8 0.010 ServiceNow USD 15 0.010 Sherwin-Williams USD 21 0.025 Shire GBP 223 0.210 Signature Bank USD 4 0.003 Simon Property Group USD 394 0.373 Sirius XM Holdings USD 12 0.010 Skyworks Solutions USD 11 0.011 SL Green Realty USD 88 0.080 Snap-on USD 12 0.011 Southern USD 36 0.030 Southwest Airlines USD 4 0.004 Spirit Realty Capital USD 27 0.030 Splunk USD 3 0.001 Sprint USD 8 0.010 SS&C Technologies Holdings USD 6 0.011 STAG Industrial USD 16 0.010 Stanley Black & Decker USD 23 0.020 Staples USD 1 0.00


139






Currency Market

Value

% of

Net

Assets


2 Starbucks USD 72 0.070 State Street USD 28 0.030 Steel Dynamics USD 8 0.010 Stericycle USD 2 0.001 Store Capital USD 27 0.030 Stryker USD 38 0.041 Summit Hotel Properties USD 16 0.021 Sun Communities USD 47 0.041 SunTrust Banks USD 20 0.020 SVB Financial Group USD 9 0.011 Symantec USD 11 0.011 Synchrony Financial USD 22 0.020 Synopsys USD 7 0.011 Sysco USD 18 0.020 T Rowe Price Group USD 13 0.011 Tanger Factory Outlet Centers USD 19 0.020 Targa Resources USD 12 0.011 Target USD 25 0.021 Taubman Centers USD 21 0.020 TD Ameritrade Holding USD 6 0.010 Teleflex USD 4 0.000 Terreno Realty USD 11 0.010 Tesla USD 35 0.030 Tesoro USD 11 0.011 Texas Instruments USD 64 0.060 Thermo Fisher Scientific USD 54 0.051 Tier REIT USD 9 0.010 Tiffany & Co USD 13 0.011 Time Warner USD 64 0.061 TJX Cos USD 36 0.030 T-Mobile USD 12 0.010 Toll Brothers USD 1 0.000 Torchmark USD 4 0.000 Total System Services USD 10 0.010 Tractor Supply USD 8 0.010 TransDigm Group USD 9 0.010 Travelers Cos USD 33 0.030 Trimble Navigation USD 9 0.010 TripAdvisor USD 3 0.001 Twenty-First Century Fox – A – USD 22 0.021 Twenty-First Century Fox – B – USD 13 0.011 Twitter USD 11 0.010 Tyson Foods – A – USD 11 0.013 UDR USD 84 0.080 UGI USD 6 0.010 Ulta Salon Cosmetics & Fragrance USD 11 0.010 Under Armour – A – USD 3 0.000 Under Armour – C – USD 1 0.001 Union Pacific USD 69 0.060 United Continental Holdings USD 1 0.001 United Parcel Service – B – USD 67 0.060 United Rentals USD 13 0.011 United Technologies USD 79 0.070 United Therapeutics USD 2 0.001 UnitedHealth Group USD 148 0.140 Universal Health Services – B – USD 12 0.010 Unum Group USD 12 0.011 Urban Edge Properties USD 19 0.022 US Bancorp USD 73 0.070 Vail Resorts USD 8 0.011 Valero Energy USD 26 0.020 Vantiv – A – USD 11 0.010 Varian Medical Systems USD 11 0.010 VCA USD 7 0.010 Veeva Systems – A – USD 6 0.013 Ventas USD 198 0.199 VEREIT USD 64 0.060 VeriSign USD 9 0.010 Verisk Analytics USD 16 0.024 Verizon Communications USD 149 0.140 Vertex Pharmaceuticals USD 23 0.020 VF USD 15 0.010 Viacom – B – USD 8 0.012 Visa – A – USD 141 0.130 VMware – A – USD 2 0.002 Vornado Realty Trust USD 133 0.120 Voya Financial USD 4 0.000 Vulcan Materials USD 10 0.01






Currency Market

Value

% of

Net

Assets


0 WABCO Holdings USD 1 0.000 Wabtec USD 7 0.011 Walgreens Boots Alliance USD 63 0.062 Wal-Mart Stores USD 94 0.092 Walt Disney USD 133 0.121 Washington Prime Group USD 10 0.011 Washington Real Estate Investment Trust USD 16 0.021 Waste Management USD 29 0.030 Waters USD 14 0.010 WEC Energy Group USD 13 0.011 Weingarten Realty Investors USD 24 0.025 Wells Fargo & Co USD 217 0.203 Welltower USD 220 0.210 Westar Energy USD 8 0.010 Western Digital USD 23 0.021 Western Union USD 10 0.010 WestRock USD 15 0.011 Weyerhaeuser USD 18 0.020 Whirlpool USD 14 0.011 Whole Foods Market USD 15 0.011 Williams Cos USD 23 0.020 Workday – A – USD 12 0.011 WP Carey USD 48 0.050 WR Berkley USD 9 0.010 WW Grainger USD 5 0.000 Wyndham Worldwide USD 12 0.010 Wynn Resorts USD 12 0.011 Xcel Energy USD 17 0.020 Xerox USD 7 0.010 Xilinx USD 17 0.020 Xylem USD 11 0.010 Yum! Brands USD 18 0.020 Zayo Group Holdings USD 7 0.010 Zillow Group – C – USD 1 0.000 Zimmer Biomet Holdings USD 24 0.020 Zions Bancorporation USD 8 0.011 Zoetis USD 28 0.03

22,877 21.48


264 Lyxor Commodities ThomsonReuters/CoreCommodity CRB TR UCITSETF – C – EUR 3,693 3.47

3,693 3.47Ireland

230 BlackRock Euro Investment Grade CorporateBond Index Fund EUR 2,944 2.76

323 BlackRock Fixed Income Dublin Funds –Euro Government Bond Index Fund – I – EUR 7,242 6.80

26 iShares JP Morgan USD EM Bond EURHedged UCITS ETF EUR 2,637 2.48

6 iShares USD High Yield Bond UCITS ETF(traded in Germany) EUR 551 0.52

13 iShares USD High Yield Bond UCITS ETF(traded in Italy) EUR 1,196 1.12

41 Source Physical Gold P-ETC USD 4,366 4.1037 Vanguard Emerging Markets Stock Index

Fund EUR 4,842 4.5523 Vanguard Investment Series - Global

Small-Cap Index Fund EUR 3,560 3.34



37 Amundi Index Solutions - Amundi IndexMSCI Pacific ex Japan EUR 3,670 3.44

7,463 7.00TOTAL TRANSFERABLE SECURITIES ANDMONEY MARKET INSTRUMENTS ADMITTEDTO AN OFFICIAL STOCK EXCHANGE LISTING 106,063 99.58

INVESTMENTS 106,063 99.58


140



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets0 EURO STOXX 50 Index Future 09/17 EUR 87 (3) (0.01)0 FTSE 100 Index Future 09/17 GBP 71 (2) (0.00)0 S&P 500 E-mini Index Future 09/17 USD 145 (0) 0.000 S&P 500 Index Future 09/17 USD 52 (0) 0.000 Swiss Market Index Future 09/17 CHF 32 (0) 0.000 Topix Index Future 09/17 JPY 23 0 0.00



OTHER ASSETS LESS LIABILITIES 449 0.42

TOTAL NET ASSETS 106,507 100.00



141


AAMMF Profile 1 30-06-2017


securities and money market

instruments admitted to an



Date

Market

Value

% of

Net

Assets





1,440 APT Pipelines USD 4.200% 23/03/25 1,305 0.0116,824 BHP Billiton Finance EUR 5.625% 22/10/79 19,664 0.04

20,969 0.05Austria

61,748 Austria Government Bond EUR 4.350% 15/03/19 66,870 0.1420,747 Austria Government Bond EUR 1.950% 18/06/19 21,736 0.0515,275 Austria Government Bond

(traded in Austria) EUR 3.900% 15/07/20 17,258 0.046,794 Austria Government Bond

(traded in Germany) EUR 3.900% 15/07/20 7,677 0.025,576 Austria Government Bond

(traded in United States) EUR 3.900% 15/07/20 6,300 0.0123,833 Austria Government Bond


(traded in Germany) EUR 3.500% 15/09/21 5,250 0.0113,823 Austria Government Bond EUR 3.400% 22/11/22 16,366 0.033,242 Austria Government Bond EUR 1.500% 20/02/47 3,173 0.01


243,358 0.52Belgium

9,002 AG Insurance USD 6.750% 29/03/49 8,293 0.0242,092 Anheuser-Busch InBev EUR 2.750% 17/03/36 44,885 0.1018,003 Argenta Spaarbank EUR 3.875% 24/05/26 19,446 0.0439,607 Belfius Bank EUR 3.125% 11/05/26 41,723 0.0931,227 Belgium Government Bond EUR 4.000% 28/03/19 33,698 0.074,039 Belgium Government Bond

(traded in Belgium) EUR 3.750% 28/09/20 4,582 0.011,089 Belgium Government Bond

(traded in Germany) EUR 3.750% 28/09/20 1,236 0.0017,544 Belgium Government Bond EUR 2.250% 22/06/23 19,814 0.0431,696 Belgium Government Bond


(traded in Germany) EUR 2.600% 22/06/24 61,374 0.1370,734 Belgium Government Bond EUR 0.500% 22/10/24 71,370 0.15

68 Belgium Government Bond EUR 0.800% 22/06/25 70 0.0032,625 Belgium Government Bond EUR 1.000% 22/06/26 33,681 0.074,065 Belgium Government Bond EUR 0.800% 22/06/27 4,065 0.01

43,568 Belgium Government Bond EUR 2.250% 22/06/57 46,392 0.105,401 RESA EUR 1.000% 22/07/26 5,259 0.01

432,668 0.92Bermuda

12,173 Digicel USD 6.000% 15/04/21 10,273 0.0213,391 Kosmos Energy (traded in

United States) USD 7.875% 01/08/21 12,034 0.0213,513 Kosmos Energy (traded in

United States) USD 7.875% 01/08/21 12,144 0.03

34,451 0.07Canada

24,347 Brookfield ResidentialProperties USD 6.375% 15/05/25 22,201 0.05

19,234 Concordia International USD 7.000% 15/04/23 2,530 0.0112,174 First Quantum Minerals USD 7.250% 01/04/23 10,460 0.0212,174 First Quantum Minerals USD 7.500% 01/04/25 10,460 0.0254,781 Jupiter Resources USD 8.500% 01/10/22 36,263 0.0818,260 Kinross Gold USD 4.500% 15/07/27 16,010 0.0312,174 Kinross Gold USD 6.875% 01/09/41 11,447 0.023,737 New Gold USD 6.375% 15/05/25 3,383 0.01

27,999 Valeant PharmaceuticalsInternational EUR 4.500% 15/05/23 23,097 0.05

135,851 0.29Cayman Islands









Date

Market

Value

% of

Net

Assets

BONDS EUR %Cayman Islands (continued)


3,847 Transocean USD 6.800% 15/03/38 2,479 0.012,922 Transocean USD 9.350% 15/12/41 2,293 0.01

20,695 UPCB Finance IV USD 5.375% 15/01/25 19,075 0.0418,003 UPCB Finance IV EUR 4.000% 15/01/27 18,795 0.0414,403 Viridian Group FundCo II EUR 7.500% 01/03/20 15,094 0.0323,404 Yorkshire Water Services


106,969 0.23Cyprus


7,980 0.02Denmark

10,676 Danske Bank GBP 5.375% 29/09/21 12,804 0.0352,425 DONG Energy EUR 3.000% 31/12/49 54,828 0.125,374 DONG Energy EUR 6.250% 31/12/49 6,408 0.01

23,629 Welltec USD 8.000% 01/02/19 20,147 0.04

94,187 0.20Finland

6,250 Finland Government Bond(traded in Finland) EUR 4.375% 04/07/19 6,870 0.02

3,890 Finland Government Bond(traded in Germany) EUR 4.375% 04/07/19 4,276 0.01



19,087 Finland Government Bond EUR 0.000% 15/09/23 18,949 0.0426 Finland Government Bond EUR 0.500% 15/04/26 26 0.00

298 Finland Government Bond EUR 2.750% 04/07/28 362 0.0025,079 Kojamo EUR 1.500% 19/06/24 24,920 0.053,655 Nokia USD 3.375% 12/06/22 3,237 0.01

13,502 Nokia EUR 2.000% 15/03/24 13,750 0.03

78,590 0.17France

900 Accor EUR 4.125% 30/06/49 952 0.005,401 Atos EUR 2.375% 02/07/20 5,670 0.01



19,758 AXA GBP 5.453% 29/11/49 24,793 0.0527,005 BPCE USD 5.700% 22/10/23 26,393 0.067,498 BPCE USD 4.500% 15/03/25 6,769 0.01

14,403 Bureau Veritas EUR 3.125% 21/01/21 15,577 0.0366,131 Caisse Centrale du Credit

Immobilier de France EUR 0.250% 25/11/18 66,652 0.1422,044 Caisse Centrale du Credit

Immobilier de France (tradedin France) EUR 0.375% 31/07/20 22,346 0.05

5,187 Caisse Centrale du CreditImmobilier de France (tradedin Luxembourg) EUR 0.375% 31/07/20 5,258 0.01

45,008 Capgemini EUR 2.500% 01/07/23 48,841 0.1027,905 Carmila EUR 2.375% 18/09/23 29,661 0.0622,504 Carmila EUR 2.375% 16/09/24 23,720 0.0542,307 Coentreprise de Transport

d’Electricite EUR 2.125% 29/07/32 42,527 0.0911,702 Credit Agricole Assurances EUR 4.750% 27/09/48 13,049 0.0331,120 Dexia Credit Local EUR 0.750% 25/01/23 31,694 0.0720,254 Electricite de France EUR 4.625% 26/04/30 26,374 0.062,223 Electricite de France GBP 5.875% 18/07/31 3,382 0.01

50,409 Electricite de France EUR 1.875% 13/10/36 45,775 0.109,902 Electricite de France EUR 5.000% 22/01/49 10,619 0.02

19,803 Electricite de France EUR 4.125% 29/01/49 20,930 0.0418,003 Electricite de France GBP 5.875% 22/07/49 20,960 0.053,601 Electricite de France EUR 4.250% 29/12/49 3,827 0.01

28,805 Engie EUR 0.875% 27/03/24 28,958 0.0681,201 France Government Bond OAT EUR 1.000% 25/05/18 82,349 0.18

107,684 France Government Bond OAT EUR 4.250% 25/10/18 114,499 0.2437,388 France Government Bond OAT EUR 1.000% 25/11/18 38,195 0.0844,605 France Government Bond OAT EUR 4.250% 25/04/19 48,480 0.1018,602 France Government Bond OAT EUR 1.000% 25/05/19 19,130 0.04


142








Date

Market

Value

% of

Net

Assets


4,681 France Government Bond OAT(traded in France) EUR 0.500% 25/11/19 4,787 0.01

17,942 France Government Bond OAT(traded in Germany) EUR 0.500% 25/11/19 18,349 0.04

128,832 France Government Bond OAT EUR 3.500% 25/04/20 142,966 0.3126,236 France Government Bond OAT EUR 0.000% 25/05/20 26,514 0.0643,488 France Government Bond OAT EUR 0.100% 01/03/21 45,466 0.1076,515 France Government Bond OAT EUR 3.750% 25/04/21 88,317 0.1946,681 France Government Bond OAT

(traded in France) EUR 0.000% 25/05/21 47,097 0.10103,818 France Government Bond OAT

(traded in Germany) EUR 0.000% 25/05/21 104,744 0.2238,015 France Government Bond OAT EUR 3.250% 25/10/21 43,655 0.09




13 France Government Bond OAT EUR 1.750% 25/11/24 14 0.00284,428 France Government Bond OAT EUR 3.500% 25/04/26 355,392 0.7670,410 France Government Bond OAT EUR 1.000% 25/05/27 71,624 0.1545,504 France Government Bond OAT EUR 2.000% 25/05/48 47,089 0.1045,908 Fromageries Bel EUR 1.500% 18/04/24 46,132 0.104,501 Groupama EUR 6.000% 23/01/27 5,352 0.01

900 Groupama EUR 7.875% 27/10/39 1,035 0.0048,609 Groupama EUR 6.375% 29/05/49 54,354 0.1240,507 Havas EUR 1.875% 08/12/20 42,113 0.0950,409 Iliad EUR 2.125% 05/12/22 52,422 0.117,201 La Banque Postale EUR 2.750% 19/11/27 7,575 0.02

20,200 La Mondiale EUR 5.050% 29/12/49 22,525 0.0527,005 La Mondiale USD 7.625% 31/12/49 25,424 0.0541,164 mFinance France EUR 2.000% 26/11/21 43,461 0.0932,523 Orange EUR 4.000% 29/10/49 35,352 0.0841,857 Orange EUR 5.000% 29/10/49 46,964 0.1036,096 RCI Banque EUR 1.375% 08/03/24 36,574 0.086,085 Rexel EUR 3.500% 15/06/23 6,377 0.01


23,404 SEB EUR 1.500% 31/05/24 23,620 0.0525,881 SFR Group USD 6.000% 15/05/22 23,770 0.057,624 SFR Group EUR 5.625% 15/05/24 8,235 0.02

45,908 Societe Fonciere Lyonnaise EUR 1.875% 26/11/21 48,127 0.1023,404 SPIE EUR 3.125% 22/03/24 24,459 0.0536,907 TDF Infrastructure EUR 2.875% 19/10/22 40,187 0.0910,802 TDF Infrastructure EUR 2.500% 07/04/26 11,262 0.0214,403 Teleperformance EUR 1.500% 03/04/24 14,429 0.0311,702 TOTAL EUR 2.250% 29/12/49 11,864 0.0312,746 TOTAL EUR 2.708% 29/12/49 12,997 0.03

2,994,327 6.39Germany

9,902 Allianz EUR 4.750% 29/10/49 11,423 0.0236,285 Bayer EUR 3.000% 01/07/75 37,803 0.0833,714 Bundesobligation EUR 0.000% 08/04/22 34,076 0.0738,576 Bundesrepublik Deutschland EUR 2.500% 04/01/21 42,570 0.096,133 Bundesrepublik Deutschland EUR 3.250% 04/07/21 7,029 0.023,619 Bundesrepublik Deutschland EUR 1.750% 04/07/22 3,975 0.01

152,895 Bundesrepublik Deutschland EUR 1.500% 04/09/22 166,227 0.3520,434 Bundesrepublik Deutschland EUR 1.500% 15/02/23 22,281 0.05


228,148 Bundesrepublik Deutschland EUR 1.000% 15/08/24 242,833 0.5288,147 Bundesrepublik Deutschland EUR 0.500% 15/02/25 90,376 0.1929,111 Bundesrepublik Deutschland EUR 0.500% 15/02/26 29,579 0.0659,874 Bundesrepublik Deutschland EUR 0.000% 15/08/26 57,762 0.1213,576 Bundesrepublik Deutschland EUR 5.500% 04/01/31 21,888 0.0529,099 Bundesrepublik Deutschland EUR 4.250% 04/07/39 47,283 0.1090,379 Bundesschatzanweisungen EUR 0.000% 14/06/19 91,399 0.2082,419 Daimler EUR 1.500% 03/07/29 80,962 0.1755,468 Deutsche Pfandbriefbank EUR 1.375% 15/01/18 55,888 0.1230,128 Deutsche Wohnen EUR 1.375% 24/07/20 31,113 0.0738,320 EnBW Energie

Baden-Wuerttemberg EUR 3.625% 02/04/76 40,473 0.09








Date

Market

Value

% of

Net

Assets



30,605 Eurogrid EUR 1.875% 10/06/25 32,486 0.0714,403 IHO Verwaltungs EUR 3.250% 15/09/23 14,808 0.0374,689 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 30/06/21 75,299 0.1643,569 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 28/04/22 43,734 0.0917,103 LEG Immobilien EUR 1.250% 23/01/24 17,219 0.0410,827 State of North

Rhine-Westphalia Germany EUR 1.550% 16/06/48 10,430 0.028,020 Unitymedia Hessen via


Unitymedia NRW EUR 4.625% 15/02/26 28,411 0.0646,790 Volkswagen Leasing EUR 1.375% 20/01/25 46,283 0.10

1,684,367 3.59Guernsey

31,326 Credit Suisse Group FundingGuernsey USD 3.800% 09/06/23 28,353 0.06

28,353 0.06Iceland

15,303 Arion Banki EUR 2.500% 26/04/19 15,876 0.0321,604 Arion Banki EUR 1.625% 01/12/21 22,060 0.058,091 Iceland Government

International Bond EUR 2.500% 15/07/20 8,677 0.0215,753 Islandsbanki EUR 1.750% 07/09/20 16,186 0.0317,103 Landsbankinn EUR 3.000% 19/10/18 17,725 0.0412,602 Landsbankinn EUR 1.625% 15/03/21 12,888 0.0318,003 Landsbankinn HF EUR 1.375% 14/03/22 18,114 0.04

111,526 0.24India

10,802 ONGC Videsh EUR 2.750% 15/07/21 11,490 0.02

11,490 0.02Ireland

24,754 Allied Irish Banks EUR 4.125% 26/11/25 26,394 0.068,449 Ardagh Packaging Finance via

Ardagh Holdings USA USD 6.000% 15/02/25 7,796 0.020 Bank of Ireland EUR 2.000% 08/05/17 0 0.00


1 ESB Finance EUR 6.250% 11/09/17 1 0.009,002 FCA Bank Ireland EUR 2.000% 23/10/19 9,355 0.02

27,401 FCA Bank Ireland EUR 1.375% 17/04/20 28,077 0.0617,832 Fresenius Finance Ireland EUR 1.500% 30/01/24 18,044 0.045,617 Fresenius Finance Ireland EUR 2.125% 01/02/27 5,767 0.01

40,660 Fresenius Finance Ireland EUR 3.000% 30/01/32 42,745 0.09134,275 Ireland Government Bond EUR 4.500% 18/04/20 152,311 0.33144,346 Ireland Government Bond EUR 5.000% 18/10/20 169,465 0.3675,530 Ireland Government Bond EUR 1.000% 15/05/26 76,383 0.16

0 Ireland Government Bond EUR 2.400% 15/05/30 0 0.0082,015 Ireland Government Bond EUR 1.700% 15/05/37 82,008 0.1729,705 Johnson Controls International EUR 1.000% 15/09/23 29,370 0.0633,549 Ryanair EUR 1.875% 17/06/21 35,409 0.089,902 Smurfit Kappa Acquisitions EUR 2.375% 01/02/24 10,171 0.029,002 Transmission Finance EUR 1.500% 24/05/23 9,276 0.02

735,682 1.57Italy

17,103 Beni Stabili SIIQ EUR 4.125% 22/01/18 17,505 0.0424,115 Enel EUR 6.500% 10/01/74 26,135 0.069,002 Enel GBP 7.750% 10/09/75 11,668 0.03

11,072 Enel GBP 6.625% 15/09/76 14,113 0.0322,918 Intesa Sanpaolo USD 5.250% 12/01/24 22,228 0.0514,204 Intesa Sanpaolo USD 5.710% 15/01/26 13,172 0.03

121,731 Italy Buoni Poliennali DelTesoro EUR 2.150% 12/11/17 122,942 0.26






143








Date

Market

Value

% of

Net

Assets

BONDS EUR %Italy (continued)307,703 Italy Buoni Poliennali Del

Tesoro EUR 0.700% 01/05/20 311,977 0.6718,646 Italy Buoni Poliennali Del









Tesoro (traded in Germany) EUR 5.500% 01/09/22 46,552 0.109,959 Italy Buoni Poliennali Del

Tesoro (traded in Italy) EUR 5.500% 01/09/22 12,227 0.0364,069 Italy Buoni Poliennali Del


Tesoro (traded in Switzerland) EUR 4.500% 01/05/23 15,912 0.0359,442 Italy Buoni Poliennali Del








Tesoro EUR 3.450% 01/03/48 39,453 0.0811,252 Telecom Italia GBP 6.375% 24/06/19 14,004 0.0312,490 Telecom Italia USD 5.303% 30/05/24 11,786 0.03


24,956 Accudyne Industries Borrowervia Accudyne Industries USD 7.750% 15/12/20 21,990 0.05

21,613 Allergan Funding EUR 1.250% 01/06/24 21,529 0.0526,546 Allergan Funding EUR 2.125% 01/06/29 26,570 0.0620,695 Altice Financing USD 6.625% 15/02/23 19,296 0.0418,260 Altice Luxembourg USD 7.625% 15/02/25 17,611 0.0412,466 Consolidated Energy Finance USD 6.750% 15/10/19 11,162 0.0212,539 Consolidated Energy Finance USD 6.875% 15/06/25 11,351 0.0253,856 Coveris Holdings USD 7.875% 01/11/19 46,747 0.1098,807 European Financial Stability

Facility EUR 0.750% 03/05/27 98,287 0.21100,291 European Financial Stability

Facility EUR 1.250% 24/05/33 98,572 0.2121,604 Gazprom via Gaz Capital GBP 4.250% 06/04/24 25,428 0.0526,375 GELF Bond Issuer I EUR 1.750% 22/11/21 27,418 0.064,565 Mallinckrodt International

Finance via Mallinckrodt CB USD 5.625% 15/10/23 3,672 0.0112,173 Mallinckrodt International

Finance via Mallinckrodt CB USD 5.500% 15/04/25 9,393 0.0242,667 Novartis Finance EUR 0.125% 20/09/23 41,567 0.0926,780 Prologis International Funding

II EUR 1.876% 17/04/25 27,399 0.0625,175 Topaz Marine USD 8.625% 01/11/18 22,144 0.0532,869 Wind Acquisition Finance USD 7.375% 23/04/21 29,989 0.06

560,125 1.20Mexico

13,391 Cemex EUR 4.375% 05/03/23 14,198 0.032,700 Mexico City Airport Trust USD 5.500% 31/10/46 2,403 0.00









Date

Market

Value

% of

Net

Assets


25,204 Petroleos Mexicanos EUR 3.750% 21/02/24 26,138 0.0618,930 Petroleos Mexicanos EUR 2.750% 21/04/27 17,082 0.0419,804 Petroleos Mexicanos EUR 4.875% 21/02/28 20,660 0.0422,504 Sigma Alimentos EUR 2.625% 07/02/24 23,615 0.05


52,434 Achmea EUR 6.000% 04/04/43 59,259 0.1355,621 Achmea EUR 4.250% 29/12/49 53,887 0.1236,006 Cetin Finance EUR 1.423% 06/12/21 37,003 0.0817,043 Constellium USD 7.875% 01/04/21 16,045 0.0320,086 Constellium EUR 7.000% 15/01/23 20,741 0.0413,926 Deutsche Bahn Finance EUR 0.875% 11/07/31 12,833 0.0327,392 Deutsche Bahn Finance EUR 1.500% 08/12/32 27,085 0.0612,692 Deutsche Telekom


International Finance EUR 1.375% 30/01/27 14,617 0.035,860 EDP Finance USD 5.250% 14/01/21 5,524 0.01

15,933 ELM for Swiss Life Insurance& Pension Group EUR 4.500% 29/12/49 17,363 0.04

5,608 Evonik Finance EUR 0.000% 08/03/21 5,538 0.013,601 Generali Finance (traded in

Luxembourg) EUR 4.596% 30/11/49 3,686 0.017,903 Generali Finance (traded in

United States) EUR 4.596% 30/11/49 8,090 0.0235,106 ING Bank USD 4.125% 21/11/23 31,516 0.0724,457 innogy Finance GBP 6.500% 20/04/21 33,022 0.073,601 innogy Finance GBP 4.750% 31/01/34 5,046 0.01

29,885 Koninklijke KPN EUR 6.125% 29/03/49 31,780 0.0710,802 Koninklijke KPN GBP 6.875% 14/03/73 13,759 0.039,902 LafargeHolcim Sterling

Finance Netherlands GBP 3.000% 12/05/32 11,148 0.0210,652 LBC Tank Terminals Holding

Netherlands USD 6.875% 15/05/23 9,736 0.0210,802 Madrilena Red de Gas Finance EUR 2.250% 11/04/29 10,970 0.0235,106 Mylan EUR 2.250% 22/11/24 36,370 0.0880,005 Netherlands Government Bond EUR 0.000% 15/01/22 80,694 0.17

7 Netherlands Government Bond EUR 2.250% 15/07/22 8 0.0025,349 Netherlands Government Bond

(traded in Germany) EUR 1.750% 15/07/23 27,982 0.065,316 Netherlands Government Bond

(traded in Netherlands) EUR 1.750% 15/07/23 5,869 0.0114,897 Netherlands Government Bond EUR 0.250% 15/07/25 14,781 0.0314,088 Netherlands Government Bond EUR 0.500% 15/07/26 14,092 0.0323,404 NIBC Bank EUR 1.500% 31/01/22 23,861 0.054,645 Petrobras Global Finance USD 6.125% 17/01/22 4,211 0.01

11,477 Petrobras Global Finance USD 7.375% 17/01/27 10,672 0.027,957 Petrobras Global Finance GBP 6.625% 16/01/34 8,831 0.02

18,849 Petrobras Global Finance USD 7.250% 17/03/44 16,312 0.037,444 Redexis Gas Finance EUR 2.750% 08/04/21 8,068 0.022,701 Redexis Gas Finance EUR 1.875% 27/04/27 2,684 0.01

37,807 RELX Finance EUR 1.000% 22/03/24 37,968 0.083,430 Repsol International Finance EUR 3.875% 29/12/49 3,582 0.014,015 Repsol International Finance EUR 4.500% 25/03/75 4,134 0.01

36,691 Stedin Holding EUR 3.250% 29/12/49 38,713 0.088,101 Telefonica Europe EUR 3.750% 31/12/49 8,461 0.02

0 Teva Pharmaceutical FinanceNetherlands II EUR 1.250% 31/03/23 0 0.00

5,401 Vesteda Finance EUR 1.750% 22/07/19 5,544 0.0131,506 Vesteda Finance EUR 2.500% 27/10/22 33,798 0.0730,921 Vonovia Finance EUR 0.875% 30/03/20 31,477 0.0753,109 Vonovia Finance EUR 1.625% 15/12/20 55,448 0.1243,208 Vonovia Finance EUR 1.250% 06/12/24 43,163 0.0911,702 Vonovia Finance EUR 4.000% 29/12/49 12,612 0.0315,303 Vonovia Finance EUR 4.625% 08/04/74 16,219 0.0379,223 Ziggo Secured Finance EUR 4.250% 15/01/27 84,102 0.18


15,303 Chorus EUR 1.125% 18/10/23 15,230 0.03

15,230 0.03Panama

54,010 Carnival EUR 1.125% 06/11/19 55,217 0.1230,605 Carnival EUR 1.625% 22/02/21 31,897 0.0724,304 Carnival EUR 1.875% 07/11/22 25,656 0.05

112,770 0.24


144








Date

Market

Value

% of

Net

Assets

BONDS EUR %Peru


3,781 0.01Poland

37,150 Tauron Polska Energia EUR 2.375% 05/07/27 37,326 0.08

37,326 0.08Portugal

900 Brisa Concessao Rodoviaria EUR 1.875% 30/04/25 906 0.009,001 Brisa Concessao Rodoviaria EUR 2.375% 10/05/27 9,109 0.02

32,406 Parpublica – ParticipacoesPublicas EUR 3.750% 05/07/21 35,555 0.08

9,012 Portugal Obrigacoes doTesouro OT EUR 4.800% 15/06/20 10,201 0.02

55,771 0.12Romania

45,233 Romania GovernmentInternational Bond EUR 2.875% 26/05/28 46,699 0.10

46,699 0.10Slovenia

31,717 Slovenia Government Bond EUR 1.750% 09/10/17 31,901 0.0741,222 Slovenia Government Bond EUR 1.750% 03/11/40 37,011 0.08

68,912 0.15Spain

22,504 Bankia EUR 4.000% 22/05/24 23,385 0.0511,702 Bankia EUR 3.375% 15/03/27 11,921 0.0325,204 CaixaBank EUR 3.500% 15/02/27 26,360 0.0620,704 Canal de Isabel II Gestion EUR 1.680% 26/02/25 20,990 0.0426,105 Cellnex Telecom EUR 2.375% 16/01/24 26,790 0.064,501 Cellnex Telecom EUR 2.875% 18/04/25 4,666 0.01

23,340 FADE - Fondo deAmortizacion del DeficitElectrico EUR 0.031% 17/06/20 23,415 0.05

24,304 IE2 Holdco EUR 2.375% 27/11/23 25,787 0.0622,504 IE2 Holdco EUR 2.875% 01/06/26 24,020 0.059,002 Inmobiliaria Colonial EUR 1.863% 05/06/19 9,306 0.023,601 Inmobiliaria Colonial EUR 2.728% 05/06/23 3,881 0.01

20,704 Inmobiliaria Colonial EUR 1.450% 28/10/24 20,355 0.049,902 Mapfre EUR 4.375% 31/03/47 10,577 0.02

18,903 Santander Consumer Finance EUR 1.100% 30/07/18 19,145 0.0410,802 Santander Consumer Finance EUR 0.900% 18/02/20 11,008 0.0221,604 Santander Consumer Finance EUR 1.500% 12/11/20 22,411 0.0551,309 Santander Consumer Finance EUR 0.875% 24/01/22 51,585 0.11

895 Spain Government Bond(traded in Germany) EUR 5.500% 30/07/17 899 0.00

194 Spain Government Bond(traded in Spain) EUR 5.500% 30/07/17 195 0.00

17,155 Spain Government Bond EUR 4.100% 30/07/18 17,974 0.0487,319 Spain Government Bond EUR 4.600% 30/07/19 96,091 0.21


107,871 Spain Government Bond EUR 1.150% 30/07/20 112,135 0.2424,741 Spain Government Bond EUR 5.500% 30/04/21 29,919 0.0668,906 Spain Government Bond EUR 5.850% 31/01/22 86,625 0.1947,523 Spain Government Bond EUR 5.400% 31/01/23 60,364 0.1311,100 Spain Government Bond EUR 4.800% 31/01/24 13,961 0.0376,504 Spain Government Bond EUR 3.800% 30/04/24 91,256 0.1931,393 Spain Government Bond EUR 1.950% 30/04/26 33,024 0.0724,313 Spain Government Bond EUR 1.300% 31/10/26 24,105 0.0567,123 Spain Government Bond EUR 1.500% 30/04/27 66,987 0.1454,292 Spain Government Bond EUR 1.450% 31/10/27 53,434 0.11

114,354 Spain Government Bond EUR 2.350% 30/07/33 115,969 0.2516,260 Spain Government Bond EUR 2.900% 31/10/46 16,462 0.0414,212 Spain Government Bond EUR 3.450% 30/07/66 15,084 0.0376,047 Spain Government Inflation

Linked Bond EUR 0.550% 30/11/19 78,764 0.179,297 Spain Government Inflation

Linked Bond EUR 0.650% 30/11/27 9,378 0.027,201 Telefonica Emisiones GBP 5.597% 12/03/20 9,130 0.02


18,260 Endo Dac via Endo Financevia Endo Finco USD 6.000% 01/02/25 13,128 0.03

26 European Investment Bank EUR 0.250% 14/10/24 26 0.0011,865 European Investment Bank EUR 0.375% 14/04/26 11,713 0.02

13 European Stability Mechanism EUR 0.500% 02/03/26 13 0.00








Date

Market

Value

% of

Net

Assets

BONDS EUR %Supranational (continued)

30,434 JBS USA LUX via JBS USAFinance USD 8.250% 01/02/20 26,817 0.06


6,087 Venator Finance via VenatorMaterials USD 5.750% 15/07/25 5,403 0.01

67,472 0.14Sweden

9,272 Energa Finance EUR 2.125% 07/03/27 9,226 0.0212,197 Essity EUR 0.625% 28/03/22 12,161 0.0314,403 Essity EUR 1.125% 27/03/24 14,450 0.0325,384 Molnlycke Holding EUR 1.500% 28/02/22 26,201 0.0594,814 Svenska Handelsbanken EUR 1.125% 14/12/22 97,752 0.2136,006 Telia EUR 3.000% 04/04/78 37,102 0.0812,809 Vattenfall EUR 3.000% 19/03/77 12,543 0.03


0 Credit Suisse EUR 1.375% 29/11/19 0 0.0038,707 Credit Suisse EUR 1.125% 15/09/20 39,825 0.0920,245 UBS Group Funding

Switzerland EUR 0.371% 20/09/22 20,430 0.0470,212 UBS Group Funding

Switzerland EUR 1.500% 30/11/24 71,964 0.15


7,552 Aviva EUR 3.375% 04/12/45 7,780 0.0236,817 Barclays GBP 3.125% 17/01/24 43,426 0.09

0 Barclays EUR 2.625% 11/11/25 0 0.0043,847 Barclays GBP 3.250% 12/02/27 50,946 0.1111,702 BAT International Finance EUR 1.000% 23/05/22 11,839 0.03

0 British Telecommunications EUR 1.750% 10/03/26 0 0.004,429 Centrica EUR 3.000% 10/04/76 4,544 0.01

14,115 Channel Link EnterprisesFinance EUR 1.761% 30/06/50 14,215 0.03


71,113 Coventry Building Society EUR 2.500% 18/11/20 75,946 0.166,166 CYBG GBP 3.125% 22/06/25 6,949 0.01

22,684 CYBG GBP 5.000% 09/02/26 26,222 0.0646,466 DS Smith EUR 2.250% 16/09/22 49,033 0.1024,034 FCE Bank EUR 1.660% 11/02/21 24,939 0.0528,220 Friends Life Holdings GBP 8.250% 21/04/22 41,481 0.0935,016 G4S International Finance EUR 1.500% 09/01/23 35,534 0.088,101 GKN Holdings GBP 3.375% 12/05/32 9,245 0.028,218 Hammerson EUR 1.750% 15/03/23 8,523 0.02

46,808 HSBC Holdings EUR 0.369% 27/09/22 47,223 0.100 HSBC Holdings GBP 5.750% 20/12/27 0 0.00

15,303 HSBC Holdings GBP 2.625% 16/08/28 17,486 0.0413,502 HSBC Holdings GBP 6.750% 11/09/28 20,262 0.0420,695 International Car Wash Group

Financing EUR 6.625% 15/07/19 21,046 0.049,002 Investec GBP 4.500% 05/05/22 11,066 0.02

21,037 ITV EUR 2.125% 21/09/22 21,831 0.0527,527 ITV EUR 2.000% 01/12/23 28,069 0.06

0 J Sainsbury GBP 1.250% 21/11/19 0 0.005,095 Jaguar Land Rover Automotive GBP 2.750% 24/01/21 5,936 0.013,043 KCA Deutag UK Finance USD 7.250% 15/05/21 2,375 0.002,435 KCA Deutag UK Finance USD 9.875% 01/04/22 2,081 0.002,818 Ladbrokes Group Finance GBP 5.125% 08/09/23 3,185 0.01

13,259 Lloyds Banking Group EUR 1.000% 09/11/23 13,259 0.0316,203 Merlin Entertainments EUR 2.750% 15/03/22 16,955 0.0419,993 Nationwide Building Society EUR 0.500% 29/10/19 20,180 0.0418,003 Nationwide Building Society EUR 6.750% 22/07/20 21,339 0.0528,139 Nationwide Building Society EUR 4.125% 20/03/23 28,888 0.0622,558 Nationwide Building Society EUR 1.375% 29/06/32 22,118 0.055,131 Old Mutual GBP 8.000% 03/06/21 6,768 0.01

30,695 Pirelli International EUR 1.750% 18/11/19 31,367 0.0745,908 Royal Bank of Scotland EUR 0.500% 15/05/24 45,459 0.1080,114 Royal Bank of Scotland Group EUR 2.000% 08/03/23 82,796 0.1826,240 Royal Bank of Scotland Group EUR 2.500% 22/03/23 27,897 0.0623,053 Santander UK EUR 0.875% 13/01/20 23,444 0.0514,241 Skipton Building Society GBP 1.750% 30/06/22 16,071 0.0336,006 Sky EUR 1.500% 15/09/21 37,315 0.0816,203 Smiths Group EUR 2.000% 23/02/27 16,471 0.0472,913 SSE EUR 1.750% 08/09/23 77,068 0.16


145








Date

Market

Value

% of

Net

Assets


17,913 SSE EUR 5.625% 29/09/49 18,152 0.048,453 SSE GBP 3.875% 29/12/49 9,906 0.029,002 SSE GBP 3.625% 16/09/77 10,378 0.02

23,404 Tesco GBP 5.000% 24/03/23 29,458 0.0611,765 Tesco GBP 6.000% 14/12/29 15,640 0.0328,895 TSB Banking Group GBP 5.750% 06/05/26 35,727 0.0824,347 Tullow Oil USD 6.250% 15/04/22 19,559 0.046,751 Virgin Media Secured Finance GBP 4.875% 15/01/27 7,936 0.029,605 Virgin Media Secured Finance GBP 6.250% 28/03/29 11,903 0.03

13,917 William Hill GBP 4.875% 07/09/23 16,327 0.0335,475 Yorkshire Building Society EUR 2.125% 18/03/19 36,707 0.0874,281 Yorkshire Building Society EUR 1.250% 17/03/22 76,008 0.16


18,528 A Schulman USD 6.875% 01/06/23 17,260 0.0423,404 AbbVie EUR 0.375% 18/11/19 23,518 0.0530,471 Aircastle USD 4.125% 01/05/24 27,300 0.0618,260 Alere USD 6.500% 15/06/20 16,310 0.0324,347 Allegheny Technologies USD 7.875% 15/08/23 22,414 0.0519,015 Allegiant Travel USD 5.500% 15/07/19 17,380 0.0417,944 Alliance Resource Operating

Partners via Alliance ResourceFinance USD 7.500% 01/05/25 16,598 0.04

16,203 Allison Transmission USD 5.000% 01/10/24 14,597 0.0324,347 Ally Financial USD 8.000% 01/11/31 26,257 0.0614,864 Alpine Finance Merger Sub USD 6.875% 01/08/25 13,293 0.038,522 AMC Entertainment Holdings GBP 6.375% 15/11/24 10,443 0.02

12,174 AMC Entertainment Holdings USD 6.125% 15/05/27 11,290 0.0224,347 American Airlines Group USD 5.500% 01/10/19 22,587 0.0512,602 American Tower EUR 1.375% 04/04/25 12,429 0.0311,090 Appvion USD 9.000% 01/06/20 5,105 0.0133,369 AT&T EUR 1.800% 04/09/26 33,077 0.0735,817 AT&T EUR 2.350% 04/09/29 35,436 0.088,326 AT&T EUR 3.550% 17/12/32 9,084 0.02

25,384 AT&T EUR 2.450% 15/03/35 23,426 0.0527,122 AT&T EUR 3.150% 04/09/36 26,771 0.0620,119 AT&T USD 5.450% 01/03/47 19,061 0.0422,504 Bank of America GBP 6.125% 15/09/21 30,444 0.0624,718 Bank of America EUR 1.625% 14/09/22 25,662 0.0560,311 Bank of America EUR 0.451% 04/05/23 60,448 0.1332,406 Bank of America EUR 1.776% 04/05/27 32,599 0.0717,311 Beazer Homes USA USD 6.750% 15/03/25 15,861 0.0320,704 Becton Dickinson & Co EUR 1.000% 15/12/22 20,585 0.0429,338 C&S Group Enterprises USD 5.375% 15/07/22 25,466 0.058,436 CalAtlantic Group USD 5.875% 15/11/24 8,044 0.028,436 CalAtlantic Group USD 5.250% 01/06/26 7,702 0.02

11,236 Cardtronics via CardtronicsUSA USD 5.500% 01/05/25 10,172 0.02

22,850 Carlson Travel USD 6.750% 15/12/23 20,435 0.0419,113 Carlson Travel USD 9.500% 15/12/24 17,197 0.0424,347 CCO Holdings via CCO

Holdings Capital USD 5.125% 01/05/27 21,881 0.0521,304 CCO Holdings via CCO

Holdings Capital USD 5.875% 01/05/27 20,009 0.046,087 Cemex Finance EUR 4.625% 15/06/24 6,603 0.01

24,347 Chemours USD 7.000% 15/05/25 23,375 0.054,212 Chemours USD 5.375% 15/05/27 3,817 0.017,402 Chesapeake Energy USD 8.000% 15/12/22 6,887 0.01

12,174 Chesapeake Energy USD 8.000% 15/01/25 10,607 0.025,856 CHS USD 5.125% 01/08/21 5,217 0.01

18,224 CHS USD 6.875% 01/02/22 14,021 0.0314,706 CHS USD 6.250% 31/03/23 13,359 0.0330,434 Citgo Holding USD 10.750% 15/02/20 29,118 0.062,097 Citigroup EUR 0.750% 26/10/23 2,062 0.00

32,832 Clear Channel WorldwideHoldings (traded inUnited States) USD 7.625% 15/03/20 28,750 0.06


9,921 Commercial Metals USD 5.375% 15/07/27 8,884 0.0217,043 Continental Resources USD 5.000% 15/09/22 14,719 0.0318,260 Continental Resources USD 4.900% 01/06/44 13,449 0.031,668 Covey Park Energy via Covey

Park Finance USD 7.500% 15/05/25 1,466 0.0030,434 CSVC Acquisition USD 7.750% 15/06/25 27,334 0.06








Date

Market

Value

% of

Net

Assets


24,347 CVR Partners via CVRNitrogen Finance USD 9.250% 15/06/23 22,414 0.05

6,793 Deck Chassis Acquisition USD 10.000% 15/06/23 6,626 0.0114,913 Dell USD 7.100% 15/04/28 14,415 0.0337,051 Digital Euro Finco EUR 2.625% 15/04/24 39,394 0.0820,371 Discovery Communications EUR 1.900% 19/03/27 19,494 0.0412,174 DISH DBS USD 5.000% 15/03/23 10,967 0.0213,269 DISH DBS USD 7.750% 01/07/26 13,815 0.033,847 Eagle Holding II USD 7.625% 15/05/22 3,478 0.019,362 Eli Lilly & Co EUR 2.125% 03/06/30 9,835 0.02

15,217 EnPro Industries (traded inUnited States) USD 5.875% 15/09/22 13,976 0.03

7,255 EnPro Industries (traded inUnited States) USD 5.875% 15/09/22 6,664 0.01

12,174 EP Energy via EverestAcquisition Finance USD 9.375% 01/05/20 8,472 0.02



27,999 Ferrellgas via FerrellgasFinance USD 6.750% 15/01/22 23,199 0.05

24,347 Frontier Communications USD 8.125% 01/10/18 22,601 0.0524,347 Gates Global via Gates Global USD 6.000% 15/07/22 21,507 0.0527,005 General Electric EUR 1.500% 17/05/29 26,702 0.0632,260 Genesis Energy via Genesis

Energy Finance USD 6.000% 15/05/23 27,860 0.0614,718 Goldman Sachs Group EUR 0.671% 27/07/21 15,030 0.0317,202 Goldman Sachs Group EUR 2.000% 27/07/23 18,089 0.0449,509 Goldman Sachs Group EUR 1.375% 15/05/24 49,952 0.1125,151 Goodyear Tire & Rubber USD 4.875% 15/03/27 22,437 0.0518,443 Halyard Health USD 6.250% 15/10/22 16,938 0.0412,174 HCA USD 5.375% 01/02/25 11,285 0.0219,478 HCA USD 5.250% 15/06/26 18,461 0.0418,260 Hertz USD 7.625% 01/06/22 16,012 0.0324,347 High Ridge Brands USD 8.875% 15/03/25 21,374 0.0527,391 Hughes Satellite Systems USD 5.250% 01/08/26 25,186 0.0512,174 Icahn Enterprises via Icahn

Enterprises Finance USD 6.250% 01/02/22 11,154 0.0224,347 Icahn Enterprises via Icahn

Enterprises Finance USD 6.750% 01/02/24 22,310 0.0512,174 Iron Mountain USD 6.000% 01/10/20 11,074 0.0217,907 j2 Cloud Services via

j2 Global Co-Obligor USD 6.000% 15/07/25 16,250 0.0344,519 JB Poindexter & Co USD 9.000% 01/04/22 41,033 0.0935,745 JPMorgan Chase & Co EUR 0.625% 25/01/24 34,933 0.0753,037 JPMorgan Chase & Co EUR 1.638% 18/05/28 52,963 0.1120,026 KeHE Distributors via KeHE

Finance USD 7.625% 15/08/21 17,646 0.0418,260 Kenan Advantage Group USD 7.875% 31/07/23 16,891 0.0424,347 Lennar USD 4.500% 30/04/24 22,117 0.0536,521 LPL Holdings USD 5.750% 15/09/25 33,381 0.0724,169 Metropolitan Life Global

Funding I EUR 0.875% 20/01/22 24,599 0.054,366 Mondelez International EUR 2.375% 06/03/35 4,207 0.01

43,397 Morgan Stanley EUR 0.371% 27/01/22 43,719 0.0918,003 Morgan Stanley EUR 1.000% 02/12/22 18,131 0.0421,964 Morgan Stanley EUR 1.750% 11/03/24 22,710 0.0513,331 Morgan Stanley EUR 1.375% 27/10/26 12,924 0.0353,109 Morgan Stanley EUR 1.875% 27/04/27 53,168 0.11

0 MPT Operating Partnershipvia MPT Finance EUR 4.000% 19/08/22 0 0.00

29,217 Nabors Industries USD 5.500% 15/01/23 24,367 0.0518,260 Newfield Exploration USD 5.375% 01/01/26 16,651 0.0441,548 NRG Energy USD 7.250% 15/05/26 37,886 0.0830,434 Oasis Petroleum USD 6.875% 15/03/22 26,017 0.0612,602 Omega Healthcare Investors USD 4.375% 01/08/23 11,345 0.029,398 Orchestra Borrower via

Orchestra Co-Issuer USD 6.750% 15/06/22 8,511 0.0213,318 Ortho-Clinical Diagnostics via

Ortho-Clinical Diagnostics USD 6.625% 15/05/22 11,210 0.0225,204 Parker-Hannifin EUR 1.125% 01/03/25 25,135 0.0524,749 PBF Holding via PBF Finance USD 7.000% 15/11/23 21,482 0.0530,434 Peabody Energy USD 6.375% 31/03/25 26,383 0.0643,825 Penske Automotive Group USD 5.500% 15/05/26 38,328 0.0840,012 Pfizer EUR 0.000% 06/03/20 39,943 0.09


146








Date

Market

Value

% of

Net

Assets


0 Philip Morris International EUR 2.125% 30/05/19 0 0.0010,001 Philip Morris International EUR 1.750% 19/03/20 10,427 0.0217,043 Platform Specialty Products USD 10.375% 01/05/21 16,568 0.0424,347 Post Holdings USD 5.000% 15/08/26 21,347 0.0513,502 Priceline Group EUR 0.800% 10/03/22 13,459 0.0335,912 Prime Security Services

Borrower via Prime Finance USD 9.250% 15/05/23 34,294 0.0716,086 Prologis EUR 1.375% 07/10/20 16,599 0.0454,262 Prologis EUR 3.000% 18/01/22 59,727 0.1324,347 RegionalCare Hospital

Partners Holdings USD 8.250% 01/05/23 23,001 0.0524,347 Sirius XM Radio USD 5.375% 15/04/25 22,121 0.0527,476 Sirius XM Radio USD 5.000% 01/08/27 24,391 0.0516,958 Six Flags Entertainment USD 4.875% 31/07/24 14,996 0.0323,982 SM Energy USD 6.125% 15/11/22 20,080 0.0424,347 SM Energy USD 6.750% 15/09/26 20,486 0.0410,189 Sonic Automotive USD 6.125% 15/03/27 8,911 0.0236,521 Sprint Capital USD 6.875% 15/11/28 35,673 0.0818,260 Sprint Capital USD 8.750% 15/03/32 20,213 0.0419,222 SunCoke Energy Partners via

SunCoke Energy PartnersFinance USD 7.500% 15/06/25 16,727 0.04

24,347 Sunoco via Sunoco Finance USD 6.250% 15/04/21 22,361 0.053,920 Surgery Center Holdings USD 6.750% 01/07/25 3,488 0.013,713 Tempo Acquisition via Tempo

Acquisition Finance USD 6.750% 01/06/25 3,337 0.018,412 Tenet Healthcare USD 4.625% 15/07/24 7,403 0.02

10,542 THC Escrow III USD 4.625% 15/07/24 9,291 0.0213,074 THC Escrow III USD 5.125% 01/05/25 11,535 0.0233,846 Thermo Fisher Scientific EUR 1.500% 01/12/20 35,017 0.07

0 Thermo Fisher Scientific EUR 0.750% 12/09/24 0 0.005,743 Thermo Fisher Scientific EUR 2.000% 15/04/25 5,999 0.01

12,600 TIBCO Software USD 11.375% 01/12/21 12,207 0.030 T-Mobile USA USD 6.731% 28/04/22 0 0.00

7,408 T-Mobile USA USD 6.000% 15/04/24 6,966 0.0124,347 T-Mobile USA USD 6.500% 15/01/26 23,615 0.059,435 TransDigm USD 6.500% 15/05/25 8,437 0.02

21,304 TransDigm USD 6.375% 15/06/26 19,005 0.043,601 United States Treasury Bond USD 3.000% 15/02/47 3,257 0.014,358 USG USD 4.875% 01/06/27 3,940 0.01

13,586 USIS Merger Sub USD 6.875% 01/05/25 12,150 0.0312,174 Valeant Pharmaceuticals



International USD 7.000% 15/03/24 13,459 0.039,690 VeriSign USD 4.750% 15/07/27 8,634 0.023,403 Walgreens Boots Alliance EUR 2.125% 20/11/26 3,515 0.01

18,260 West USD 5.375% 15/07/22 16,210 0.0315,826 Western Digital USD 10.500% 01/04/24 16,403 0.0318,516 WMG Acquisition USD 5.000% 01/08/23 16,701 0.049,495 Wynn Las Vegas via Wynn Las

Vegas Capital USD 5.250% 15/05/27 8,539 0.0215,923 Xerium Technologies USD 9.500% 15/08/21 14,868 0.0319,393 York Risk Services Holding USD 8.500% 01/10/22 16,450 0.0424,347 Zachry Holdings USD 7.500% 01/02/20 22,094 0.057,755 Zayo Group via Zayo Capital USD 5.750% 15/01/27 7,130 0.02

15,069 Zimmer Biomet Holdings EUR 1.414% 13/12/22 15,319 0.038,101 Zimmer Biomet Holdings EUR 2.425% 13/12/26 8,410 0.02

2,970,265 6.34






Currency Market

Value

% of

Net

Assets


17 Allianz Securicash SRI EUR 2,072,084 4.428,800 Aviva Monetaire – I – EUR 9,099,464 19.41

710 Natixis Asset Management NatixisTresorerie – IC – EUR 8,913,283 19.02

88 Natixis Asset Management NatixisTresorerie Plus – IC – EUR 9,146,562 19.52


INVESTMENTS 46,303,766 98.80


147



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(7) 10-Years US Note Future 09/17 USD (781,332) 4,335 0.01(5) 2-Years US Note Future 09/17 USD (947,391) 1,014 0.00

(11) 5-Years US Note Future 09/17 USD (1,108,395) 3,424 0.01(10) Bundesrepublik Deutschland Future BOBL 09/17 EUR (1,305,279) 15,025 0.03

(6) Bundesrepublik Deutschland Future BUND 09/17 EUR (985,259) 18,016 0.04(1) Bundesrepublik Deutschland Future BUXL 09/17 EUR (192,478) 4,503 0.01(5) Bundesrepublik Deutschland Future SCHATZ 09/17 EUR (612,331) 2,206 0.01(1) EUR/USD Currency Future 09/17 USD (88,735) (1,570) (0.00)(1) Euro-OAT Future 09/17 EUR (244,515) 2,245 0.00(0) GBP/USD Currency Future 09/17 USD (11,313) (254) (0.00)(1) Long Gilt Future 09/17 GBP (154,477) 2,264 0.00(4) Short Euro-BTP Future 09/17 EUR (413,492) (1,050) (0.00)0 US Long Bond Future 09/17 USD 6,065 55 0.00



Purchased Sold


in Fund% ofNet

Amount Currency Amount Currency Maturity Date Currency Assets7,931 EUR 6,994 GBP 26/07/2017 (31) (0.00)

769,829 EUR 676,049 GBP 26/07/2017 242 0.0016,107 EUR 14,182 GBP 26/07/2017 (38) (0.00)

1,109 EUR 977 GBP 26/07/2017 (3) (0.00)307,792 EUR 343,794 USD 26/07/2017 6,689 0.01

4,390 EUR 4,947 USD 26/07/2017 57 0.003 EUR 3 USD 26/07/2017 0 0.00

3,298 EUR 3,768 USD 26/07/2017 (2) (0.00)7,761 GBP 8,808 EUR 26/07/2017 26 0.00

84,124 GBP 95,789 EUR 26/07/2017 (26) 0.0042,345 USD 37,911 EUR 26/07/2017 (824) (0.00)

9,708 USD 8,497 EUR 26/07/2017 6 0.00





* The counterparties for the future contracts are Merrill Lynch Pierce Fenner & Smith, Newedge and UBS.** The counterparties for the forward foreign exchange contracts are Barclays Bank, Citibank N.A., HSBC Bank and State Street Bank (London).


148





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Argentina133,841 Argentine Republic

Government InternationalBond EUR 7.820% 31/12/33 143,411 0.04



8,494 APT Pipelines USD 4.200% 23/03/25 7,701 0.00200 AusNet Services Holdings EUR 2.375% 24/07/20 214 0.0096 BHP Billiton Finance EUR 0.750% 28/10/22 97 0.00

99,226 BHP Billiton Finance EUR 5.625% 22/10/79 115,974 0.03255 Commonwealth Bank of

Australia EUR 1.625% 04/02/19 262 0.00214 Commonwealth Bank of

Australia EUR 0.500% 11/07/22 213 0.00231 National Australia Bank EUR 0.625% 10/11/23 229 0.00111 Origin Energy Finance EUR 2.500% 23/10/20 118 0.00212 Scentre Group Trust 1 via

Scentre Group Trust 2 EUR 1.375% 22/03/23 217 0.00

125,025 0.03Austria354,935 Austria Government Bond EUR 4.350% 15/03/19 384,379 0.10119,256 Austria Government Bond EUR 1.950% 18/06/19 124,943 0.0387,802 Austria Government Bond





(traded in Germany) EUR 3.500% 15/09/21 30,177 0.0179,454 Austria Government Bond EUR 3.400% 22/11/22 94,072 0.0318,634 Austria Government Bond EUR 1.500% 20/02/47 18,238 0.0071,672 Erste Group Bank EUR 7.125% 10/10/22 92,510 0.03

138,035 UNIQA Insurance Group EUR 6.875% 31/07/43 168,957 0.05132,726 UNIQA Insurance Group EUR 6.000% 27/07/46 158,217 0.04

1,409,505 0.38Belgium







256,956 Belgium Government Bond EUR 2.250% 22/06/57 273,614 0.07222 Groupe Bruxelles Lambert EUR 1.375% 23/05/24 221 0.00125 Proximus EUR 0.500% 22/03/22 125 0.00

31,854 RESA EUR 1.000% 22/07/26 31,017 0.0157 UCB EUR 4.125% 04/01/21 63 0.00

2,512,690 0.68Bermuda

242 Bacardi EUR 2.750% 03/07/23 268 0.0070,973 Digicel USD 6.000% 15/04/21 59,893 0.0178,070 Kosmos Energy USD 7.875% 01/08/21 70,161 0.0278,780 Kosmos Energy (traded in


201,120 0.05





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Canada141,945 Brookfield Residential

Properties USD 6.375% 15/05/25 129,432 0.03112,137 Concordia International USD 7.000% 15/04/23 14,748 0.0070,973 First Quantum Minerals USD 7.250% 01/04/23 60,982 0.0270,973 First Quantum Minerals USD 7.500% 01/04/25 60,982 0.02

247 Great-West Lifeco EUR 2.500% 18/04/23 270 0.00319,377 Jupiter Resources USD 8.500% 01/10/22 211,416 0.06106,459 Kinross Gold USD 4.500% 15/07/27 93,340 0.0270,973 Kinross Gold USD 6.875% 01/09/41 66,738 0.0221,789 New Gold USD 6.375% 15/05/25 19,725 0.01



27 Hutchison Whampoa EuropeFinance 12 EUR 3.625% 06/06/22 31 0.00




120,654 UPCB Finance IV USD 5.375% 15/01/25 111,207 0.03106,180 UPCB Finance IV EUR 4.000% 15/01/27 110,852 0.0384,944 Viridian Group FundCo II EUR 7.500% 01/03/20 89,025 0.02

138,035 Yorkshire Water ServicesBradford Finance GBP 3.750% 22/03/46 168,620 0.05

629,301 0.17Cyprus



81 CEZ EUR 5.000% 19/10/21 97 0.00

97 0.00Denmark

118 Carlsberg Breweries EUR 3.375% 13/10/17 119 0.00278 Carlsberg Breweries EUR 2.500% 28/05/24 303 0.00122 Danske Bank EUR 1.250% 11/06/21 128 0.00

62,965 Danske Bank GBP 5.375% 29/09/21 75,516 0.02229 Danske Bank EUR 0.750% 02/06/23 229 0.00

309,197 DONG Energy EUR 3.000% 31/12/49 323,365 0.0931,695 DONG Energy EUR 6.250% 31/12/49 37,794 0.01

120 Vestas Wind Systems EUR 2.750% 11/03/22 130 0.00137,758 Welltec USD 8.000% 01/02/19 117,461 0.03

555,045 0.15Finland

55 Citycon EUR 3.750% 24/06/20 61 0.0035,926 Finland Government Bond

(traded in Finland) EUR 4.375% 04/07/19 39,493 0.0122,361 Finland Government Bond

(traded in Germany) EUR 4.375% 04/07/19 24,580 0.0125,491 Finland Government Bond


(traded in Germany) EUR 3.375% 15/04/20 7,424 0.00109,715 Finland Government Bond EUR 0.000% 15/09/23 108,921 0.03

149 Finland Government Bond EUR 0.500% 15/04/26 149 0.001,714 Finland Government Bond EUR 2.750% 04/07/28 2,081 0.00

147,909 Kojamo EUR 1.500% 19/06/24 146,977 0.0421,555 Nokia USD 3.375% 12/06/22 19,089 0.0079,635 Nokia EUR 2.000% 15/03/24 81,094 0.02

156 Teollisuuden Voima EUR 2.625% 13/01/23 162 0.00

458,243 0.12France


222 Aeroports de Paris EUR 1.500% 07/04/25 232 0.00194 Air Liquide Finance EUR 1.250% 03/06/25 200 0.00139 ALD EUR 0.750% 26/01/18 139 0.0083 APRR EUR 1.125% 15/01/21 85 0.00


149





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


0 APRR EUR 1.875% 15/01/25 0 0.0031,854 Atos EUR 2.375% 02/07/20 33,440 0.01



0 AXA EUR 3.375% 06/07/47 0 0.00148 AXA EUR 3.941% 29/11/49 161 0.00

116,533 AXA GBP 5.453% 29/11/49 146,228 0.04222 Banque Federative du Credit

Mutuel EUR 0.250% 14/06/19 223 0.0083 Banque Federative du Credit

Mutuel EUR 3.000% 28/11/23 95 0.00152 Banque Federative du Credit

Mutuel EUR 2.625% 18/03/24 171 0.0040 BNP Paribas EUR 1.375% 21/11/18 41 0.00

328 BNP Paribas EUR 2.875% 24/10/22 368 0.00418 BNP Paribas EUR 0.750% 11/11/22 423 0.00175 BNP Paribas EUR 1.125% 15/01/23 179 0.0098 BNP Paribas EUR 1.500% 17/11/25 99 0.00

217 BNP Paribas EUR 2.625% 14/10/27 230 0.0042 BNP Paribas Cardif EUR 4.032% 29/11/49 44 0.00

291 BPCE EUR 0.375% 05/10/23 284 0.00159,270 BPCE USD 5.700% 22/10/23 155,665 0.0444,224 BPCE USD 4.500% 15/03/25 39,921 0.01

305 BPCE EUR 2.875% 22/04/26 323 0.0084,944 Bureau Veritas EUR 3.125% 21/01/21 91,871 0.02

111 Bureau Veritas EUR 1.250% 07/09/23 111 0.00380,128 Caisse Centrale du Credit




265,451 Capgemini EUR 2.500% 01/07/23 288,056 0.08164,580 Carmila EUR 2.375% 18/09/23 174,939 0.05132,725 Carmila EUR 2.375% 16/09/24 139,895 0.04

236 Christian Dior EUR 1.375% 19/06/19 240 0.0078 Cie de Saint-Gobain EUR 4.500% 30/09/19 85 0.00

263 Cie Financiere et Industrielledes Autoroutes EUR 0.375% 07/02/25 251 0.00

222 Coentreprise de Transportd’Electricite EUR 0.875% 29/09/24 220 0.00

249,745 Coentreprise de Transportd’Electricite EUR 2.125% 29/07/32 251,041 0.07

83 Credit Agricole EUR 3.875% 13/02/19 88 0.0042 Credit Agricole EUR 0.875% 19/01/22 42 0.00

222 Credit Agricole EUR 0.750% 01/12/22 224 0.0097 Credit Agricole EUR 1.875% 20/12/26 99 0.00

166 Credit Agricole EUR 1.375% 03/05/27 167 0.0069,017 Credit Agricole Assurances EUR 4.750% 27/09/48 76,962 0.02

97 Credit Agricole Assurances EUR 4.250% 29/01/49 104 0.0083 Credit Agricole Assurances EUR 4.500% 31/10/49 90 0.00

111 Danone EUR 0.424% 03/11/22 110 0.00178,884 Dexia Credit Local EUR 0.750% 25/01/23 182,179 0.05

111 Electricite de France EUR 2.750% 10/03/23 123 0.00119,453 Electricite de France EUR 4.625% 26/04/30 155,549 0.0413,113 Electricite de France GBP 5.875% 18/07/31 19,949 0.01

297,471 Electricite de France EUR 1.875% 13/10/36 270,124 0.0758,399 Electricite de France EUR 5.000% 22/01/49 62,630 0.02

116,798 Electricite de France EUR 4.125% 29/01/49 123,442 0.03139 Electricite de France EUR 5.375% 29/01/49 153 0.00

106,180 Electricite de France GBP 5.875% 22/07/49 123,618 0.0321,236 Electricite de France EUR 4.250% 29/12/49 22,571 0.01

53 Engie EUR 1.500% 20/07/17 53 0.00170,207 Engie EUR 0.875% 27/03/24 171,111 0.05466,752 France Government Bond

OAT EUR 1.000% 25/05/18 473,353 0.13618,979 France Government Bond

OAT EUR 4.250% 25/10/18 658,153 0.18





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France (continued)214,908 France Government Bond




OAT (traded in France) EUR 0.500% 25/11/19 27,517 0.01103,135 France Government Bond

OAT (traded in Germany) EUR 0.500% 25/11/19 105,474 0.03740,542 France Government Bond













OAT EUR 2.250% 25/05/24 228,565 0.0675 France Government Bond

OAT EUR 1.750% 25/11/24 82 0.001,634,927 France Government Bond

OAT EUR 3.500% 25/04/26 2,042,834 0.55404,725 France Government Bond


OAT EUR 2.000% 25/05/48 270,673 0.07270,760 Fromageries Bel EUR 1.500% 18/04/24 272,078 0.07

97 Gecina EUR 2.000% 30/06/32 96 0.0026,545 Groupama EUR 6.000% 23/01/27 31,566 0.015,309 Groupama EUR 7.875% 27/10/39 6,102 0.00

286,687 Groupama EUR 6.375% 29/05/49 320,572 0.09238,906 Havas EUR 1.875% 08/12/20 248,374 0.07

263 HSBC France EUR 1.625% 03/12/18 270 0.00297,305 Iliad EUR 2.125% 05/12/22 309,177 0.0842,472 La Banque Postale EUR 2.750% 19/11/27 44,676 0.01

119,134 La Mondiale EUR 5.050% 29/12/49 132,850 0.04159,270 La Mondiale USD 7.625% 31/12/49 149,947 0.04242,781 mFinance France EUR 2.000% 26/11/21 256,330 0.07

111 Orange EUR 4.125% 23/01/19 118 0.00191,815 Orange EUR 4.000% 29/10/49 208,504 0.06246,869 Orange EUR 5.000% 29/10/49 276,987 0.08

161 Orange EUR 5.250% 29/12/49 184 0.00208 RCI Banque EUR 0.625% 10/11/21 207 0.00

212,892 RCI Banque EUR 1.375% 08/03/24 215,711 0.0635,889 Rexel EUR 3.500% 15/06/23 37,612 0.01


336 Schlumberger FinanceFrance EUR 0.625% 12/02/19 339 0.00

42 SCOR EUR 3.000% 08/06/46 44 0.0055 SCOR EUR 3.875% 29/10/49 60 0.0097 SEB EUR 2.375% 25/11/22 103 0.00

138,367 SEB EUR 1.500% 31/05/24 139,643 0.04150,888 SFR Group USD 6.000% 15/05/22 138,578 0.0444,967 SFR Group EUR 5.625% 15/05/24 48,571 0.01


150





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France (continued)270,760 Societe Fonciere Lyonnaise EUR 1.875% 26/11/21 283,846 0.08

152 Societe Generale EUR 2.375% 28/02/18 155 0.00180 Societe Generale EUR 0.750% 19/02/21 183 0.0097 Societe Generale EUR 0.469% 22/05/24 97 0.000 Societe Generale EUR 9.375% 29/09/49 0 0.00

138,034 SPIE EUR 3.125% 22/03/24 144,254 0.0455 Suez EUR 2.750% 09/10/23 62 0.00

217,670 TDF Infrastructure EUR 2.875% 19/10/22 237,015 0.0663,708 TDF Infrastructure EUR 2.500% 07/04/26 66,424 0.0284,944 Teleperformance EUR 1.500% 03/04/24 85,099 0.0269,017 TOTAL EUR 2.250% 29/12/49 69,970 0.02

162 TOTAL EUR 2.625% 29/12/49 161 0.0075,176 TOTAL EUR 2.708% 29/12/49 76,652 0.02

114 TOTAL EUR 3.875% 29/12/49 123 0.0097 Total Capital International EUR 0.250% 12/07/23 95 0.0048 Unibail-Rodamco EUR 1.375% 09/03/26 49 0.00

17,375,744 4.72Germany

236 Allianz EUR 2.241% 07/07/45 237 0.0097 Allianz EUR 3.099% 06/07/47 102 0.00

58,399 Allianz EUR 4.750% 29/10/49 67,372 0.0225 Bayer EUR 2.375% 02/04/75 26 0.00

214,006 Bayer EUR 3.000% 01/07/75 222,955 0.06193,791 Bundesobligation EUR 0.000% 08/04/22 195,872 0.05221,741 Bundesrepublik Deutschland EUR 2.500% 04/01/21 244,695 0.0735,255 Bundesrepublik Deutschland EUR 3.250% 04/07/21 40,406 0.0120,802 Bundesrepublik Deutschland EUR 1.750% 04/07/22 22,847 0.01

878,860 Bundesrepublik Deutschland EUR 1.500% 04/09/22 955,492 0.26120,515 Bundesrepublik Deutschland EUR 1.500% 15/02/23 131,409 0.04960,888 Bundesrepublik Deutschland EUR 2.000% 15/08/23 1,081,264 0.29433,994 Bundesrepublik Deutschland EUR 1.750% 15/02/24 483,957 0.13

1,314,271 Bundesrepublik Deutschland EUR 1.000% 15/08/24 1,398,864 0.38506,680 Bundesrepublik Deutschland EUR 0.500% 15/02/25 519,494 0.14167,331 Bundesrepublik Deutschland EUR 0.500% 15/02/26 170,025 0.05348,853 Bundesrepublik Deutschland EUR 0.000% 15/08/26 336,545 0.09

104 Bundesrepublik Deutschland EUR 4.750% 04/07/28 150 0.0078,038 Bundesrepublik Deutschland EUR 5.500% 04/01/31 125,817 0.03

167,267 Bundesrepublik Deutschland EUR 4.250% 04/07/39 271,790 0.07111 Bundesschatzanweisungen EUR 0.000% 15/12/17 111 0.00

519,508 Bundesschatzanweisungen EUR 0.000% 14/06/19 525,374 0.14116 Continental EUR 3.125% 09/09/20 127 0.00281 Daimler EUR 0.500% 09/09/19 284 0.00

486,093 Daimler EUR 1.500% 03/07/29 477,503 0.13194 Deutsche Bank EUR 1.500% 20/01/22 199 0.00

327,142 Deutsche Pfandbriefbank EUR 1.375% 15/01/18 329,621 0.09177,693 Deutsche Wohnen EUR 1.375% 24/07/20 183,497 0.05

197 E.ON EUR 0.375% 23/08/21 196 0.00226,095 EnBW Energie

Baden-Wuerttemberg EUR 3.625% 02/04/76 238,801 0.07116,809 EnBW Energie

Baden-Wuerttemberg EUR 3.375% 05/04/77 122,616 0.03180,507 Eurogrid EUR 1.875% 10/06/25 191,596 0.05

56 Evonik Industries EUR 2.125% 07/07/77 56 0.00192 Fraport Frankfurt Airport

Services Worldwide EUR 5.250% 10/09/19 212 0.00138 Fresenius & Co EUR 4.000% 01/02/24 160 0.0090 HeidelbergCement EUR 2.250% 30/03/23 97 0.00

233 Henkel & Co EUR 0.000% 13/09/18 233 0.0084,944 IHO Verwaltungs EUR 3.250% 15/09/23 87,337 0.02



426 LandwirtschaftlicheRentenbank EUR 0.625% 20/02/30 406 0.00

100,871 LEG Immobilien EUR 1.250% 23/01/24 101,553 0.0362,237 State of North

Rhine-Westphalia Germany EUR 1.550% 16/06/48 59,951 0.02163 Symrise EUR 1.750% 10/07/19 168 0.00







market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


214 Volkswagen Leasing EUR 2.625% 15/01/24 233 0.00275,963 Volkswagen Leasing EUR 1.375% 20/01/25 272,971 0.07

9,764,583 2.65Guernsey184,754 Credit Suisse Group Funding

Guernsey USD 3.800% 09/06/23 167,222 0.05

167,222 0.05Hong Kong

249 CK Hutchison Finance 16 EUR 1.250% 06/04/23 252 0.0043 CK Hutchison Finance 16 EUR 2.000% 06/04/28 43 0.00

295 0.00Iceland


International Bond EUR 2.500% 15/07/20 49,878 0.0192,908 Islandsbanki EUR 1.750% 07/09/20 95,463 0.03

100,871 Landsbankinn EUR 3.000% 19/10/18 104,539 0.0374,326 Landsbankinn EUR 1.625% 15/03/21 76,009 0.02

106,180 Landsbankinn HF EUR 1.375% 14/03/22 106,833 0.03

656,465 0.18India

63,708 ONGC Videsh EUR 2.750% 15/07/21 67,767 0.02

67,767 0.02Ireland145,998 Allied Irish Banks EUR 4.125% 26/11/25 155,670 0.0449,255 Ardagh Packaging Finance

via Ardagh Holdings USA USD 6.000% 15/02/25 45,453 0.010 Bank of Ireland EUR 2.000% 08/05/17 0 0.00

23,307 Bank of Ireland EUR 3.250% 15/01/19 24,452 0.01107 Bank of Ireland EUR 1.250% 09/04/20 110 0.00

161,899 Bank of Ireland EUR 4.250% 11/06/24 171,081 0.05112 Cloverie for Zurich

Insurance EUR 1.750% 16/09/24 119 0.003 ESB Finance EUR 6.250% 11/09/17 3 0.00

192 ESB Finance DAC EUR 3.494% 12/01/24 223 0.0053,090 FCA Bank Ireland EUR 2.000% 23/10/19 55,175 0.01

161,607 FCA Bank Ireland EUR 1.375% 17/04/20 165,593 0.0469 FCA Bank Ireland EUR 1.000% 15/11/21 69 0.00

105,172 Fresenius Finance Ireland EUR 1.500% 30/01/24 106,419 0.0333,128 Fresenius Finance Ireland EUR 2.125% 01/02/27 34,014 0.01

239,808 Fresenius Finance Ireland EUR 3.000% 30/01/32 252,107 0.070 GAS Networks Ireland EUR 1.375% 05/12/26 0 0.00

178 GE Capital EuropeanFunding EUR 2.875% 18/06/19 188 0.00

771,830 Ireland Government Bond EUR 4.500% 18/04/20 875,502 0.24829,717 Ireland Government Bond EUR 5.000% 18/10/20 974,104 0.26434,156 Ireland Government Bond EUR 1.000% 15/05/26 439,057 0.12

0 Ireland Government Bond EUR 2.400% 15/05/30 0 0.00471,433 Ireland Government Bond EUR 1.700% 15/05/37 471,393 0.13175,198 Johnson Controls

International EUR 1.000% 15/09/23 173,218 0.05197 PartnerRe Ireland Finance

DAC EUR 1.250% 15/09/26 188 0.00197,867 Ryanair EUR 1.875% 17/06/21 208,837 0.0658,399 Smurfit Kappa Acquisitions EUR 2.375% 01/02/24 59,985 0.0253,090 Transmission Finance EUR 1.500% 24/05/23 54,708 0.01

4,267,668 1.16Italy

112 Assicurazioni Generali EUR 5.500% 27/10/47 125 0.00111 Assicurazioni Generali EUR 5.000% 08/06/48 119 0.00

100,871 Beni Stabili SIIQ EUR 4.125% 22/01/18 103,240 0.03225 Davide Campari-Milano EUR 2.750% 30/09/20 241 0.00

142,228 Enel EUR 6.500% 10/01/74 154,140 0.0453,090 Enel GBP 7.750% 10/09/75 68,815 0.0265,301 Enel GBP 6.625% 15/09/76 83,239 0.02

313 Eni EUR 1.500% 17/01/27 312 0.00360 Intesa Sanpaolo EUR 4.000% 08/11/18 380 0.0055 Intesa Sanpaolo EUR 4.375% 15/10/19 61 0.0055 Intesa Sanpaolo EUR 4.125% 14/04/20 61 0.00

135,168 Intesa Sanpaolo USD 5.250% 12/01/24 131,100 0.04


151





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Italy (continued)

254 Intesa Sanpaolo EUR 1.375% 18/01/24 255 0.0083,776 Intesa Sanpaolo USD 5.710% 15/01/26 77,685 0.02






1,768,714 Italy Buoni Poliennali DelTesoro EUR 0.700% 01/05/20 1,793,281 0.49









217,940 Italy Buoni Poliennali DelTesoro (traded in Germany) EUR 5.500% 01/09/22 267,589 0.07

57,243 Italy Buoni Poliennali DelTesoro (traded in Italy) EUR 5.500% 01/09/22 70,283 0.02


77,144 Italy Buoni Poliennali DelTesoro (traded inSwitzerland) EUR 4.500% 01/05/23 91,465 0.03









66,363 Telecom Italia GBP 6.375% 24/06/19 82,594 0.0272,818 Telecom Italia USD 5.303% 30/05/24 68,713 0.02

193 Terna Rete ElettricaNazionale EUR 2.875% 16/02/18 196 0.00

10,944,490 2.97Jersey

79 Heathrow Funding EUR 1.875% 23/05/22 84 0.00

84 0.00Luxembourg145,494 Accudyne Industries

Borrower via AccudyneIndustries USD 7.750% 15/12/20 128,203 0.03

127,470 Allergan Funding EUR 1.250% 01/06/24 126,976 0.03156,563 Allergan Funding EUR 2.125% 01/06/29 156,709 0.04120,654 Altice Financing USD 6.625% 15/02/23 112,497 0.03106,459 Altice Luxembourg USD 7.625% 15/02/25 102,674 0.03

92 CNH Industrial FinanceEurope EUR 6.250% 09/03/18 96 0.00





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Luxembourg (continued)

118 CNH Industrial FinanceEurope EUR 1.375% 23/05/22 120 0.00

72,676 Consolidated Energy Finance USD 6.750% 15/10/19 65,074 0.0273,102 Consolidated Energy Finance USD 6.875% 15/06/25 66,177 0.02

313,983 Coveris Holdings USD 7.875% 01/11/19 272,538 0.0732 DH Europe Finance EUR 1.000% 08/07/19 32 0.00

567,956 European Financial StabilityFacility EUR 0.750% 03/05/27 564,963 0.15


127,416 Gazprom via Gaz Capital GBP 4.250% 06/04/24 149,974 0.04155,729 GELF Bond Issuer I EUR 1.750% 22/11/21 161,887 0.04

28 GELF Bond Issuer I EUR 0.875% 20/10/22 27 0.00157 Glencore Finance Europe EUR 4.625% 03/04/18 162 0.00200 Glencore Finance Europe EUR 1.875% 13/09/23 203 0.00111 Glencore Finance Europe EUR 1.750% 17/03/25 109 0.0014 Grand City Properties EUR 2.000% 29/10/21 15 0.00

26,615 Mallinckrodt InternationalFinance via Mallinckrodt CB USD 5.625% 15/10/23 21,410 0.01

70,973 Mallinckrodt InternationalFinance via Mallinckrodt CB USD 5.500% 15/04/25 54,760 0.02

251,647 Novartis Finance EUR 0.125% 20/09/23 245,157 0.07157,943 Prologis International

Funding II EUR 1.876% 17/04/25 161,599 0.04197 Simon International Finance EUR 1.375% 18/11/22 203 0.0055 Simon International Finance EUR 1.250% 13/05/25 54 0.00

146,772 Topaz Marine USD 8.625% 01/11/18 129,098 0.04191,626 Wind Acquisition Finance USD 7.375% 23/04/21 174,838 0.05

3,272,119 0.89Mexico

136 America Movil EUR 3.000% 12/07/21 148 0.0048 America Movil EUR 4.750% 28/06/22 57 0.00


191,125 Petroleos Mexicanos EUR 2.500% 21/08/21 195,288 0.05148,652 Petroleos Mexicanos EUR 3.750% 21/02/24 154,157 0.04111,649 Petroleos Mexicanos EUR 2.750% 21/04/27 100,748 0.03116,798 Petroleos Mexicanos EUR 4.875% 21/02/28 121,848 0.03132,725 Sigma Alimentos EUR 2.625% 07/02/24 139,280 0.04


267 ABN AMRO Bank EUR 4.750% 11/01/19 287 0.00309,250 Achmea EUR 6.000% 04/04/43 349,503 0.09328,044 Achmea EUR 4.250% 29/12/49 317,819 0.09

141 Achmea Bank EUR 0.875% 17/09/18 143 0.00140 Alliander EUR 4.500% 17/12/19 155 0.0045 ASR Nederland EUR 5.125% 29/09/45 51 0.00

367 BMW Finance EUR 1.500% 05/06/18 373 0.00212,361 Cetin Finance EUR 1.423% 06/12/21 218,236 0.0699,362 Constellium USD 7.875% 01/04/21 93,542 0.03

117,105 Constellium EUR 7.000% 15/01/23 120,920 0.03325 Cooperatieve Rabobank EUR 4.000% 11/01/22 378 0.0063 Cooperatieve Rabobank EUR 4.750% 06/06/22 77 0.0047 Delta Lloyd

Levensverzekering EUR 9.000% 29/08/42 62 0.0085 Demeter Investments for

Swiss Life EUR 4.375% 29/12/49 92 0.0049 Demeter Investments for

Zurich Insurance EUR 3.500% 01/10/46 54 0.0082,446 Deutsche Bahn Finance EUR 0.875% 11/07/31 75,980 0.02

161,553 Deutsche Bahn Finance EUR 1.500% 08/12/32 159,746 0.0474,857 Deutsche Telekom

International Finance EUR 5.375% 27/07/21 89,979 0.02328 Deutsche Telekom

International Finance EUR 0.625% 03/04/23 327 0.0086,218 Deutsche Telekom

International Finance EUR 1.375% 30/01/27 86,209 0.02223 Deutsche Telekom

International Finance EUR 1.500% 03/04/28 222 0.0034,562 EDP Finance USD 5.250% 14/01/21 32,578 0.01

302 EDP Finance EUR 2.375% 23/03/23 321 0.0093,970 ELM for Swiss Life

Insurance & Pension Group EUR 4.500% 29/12/49 102,407 0.03


152





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


101 Enel Finance International EUR 5.250% 29/09/23 128 0.00245 Enexis Holding EUR 1.500% 20/10/23 257 0.00180 Enexis Holding EUR 0.875% 28/04/26 177 0.00



United States) EUR 4.596% 30/11/49 47,712 0.01184 Heineken EUR 2.500% 19/03/19 192 0.00157 Heineken EUR 3.500% 19/03/24 184 0.0097 Heineken EUR 1.500% 07/12/24 100 0.00

251 Heineken EUR 2.875% 04/08/25 285 0.00370 ING Bank EUR 1.250% 13/12/19 381 0.00

207,052 ING Bank USD 4.125% 21/11/23 185,880 0.05125 ING Groep EUR 2.500% 15/02/29 130 0.00

144,246 innogy Finance GBP 6.500% 20/04/21 194,757 0.0521,236 innogy Finance GBP 4.750% 31/01/34 29,759 0.01

166 JAB Holdings EUR 1.250% 22/05/24 168 0.00166 JAB Holdings EUR 2.000% 18/05/28 168 0.00


Finance Netherlands GBP 3.000% 12/05/32 65,746 0.0262,101 LBC Tank Terminals

Holding Netherlands USD 6.875% 15/05/23 56,763 0.02236 LeasePlan EUR 1.000% 08/04/20 240 0.00


207,052 Mylan EUR 2.250% 22/11/24 214,507 0.06459,881 Netherlands Government

Bond EUR 0.000% 15/01/22 463,840 0.1340 Netherlands Government

Bond EUR 2.250% 15/07/22 45 0.00145,710 Netherlands Government

Bond (traded in Germany) EUR 1.750% 15/07/23 160,843 0.0430,559 Netherlands Government

Bond (traded in Netherlands) EUR 1.750% 15/07/23 33,733 0.0185,631 Netherlands Government

Bond EUR 0.250% 15/07/25 84,962 0.0280,978 Netherlands Government

Bond EUR 0.500% 15/07/26 81,003 0.02138,034 NIBC Bank EUR 1.500% 31/01/22 140,731 0.0427,395 Petrobras Global Finance USD 6.125% 17/01/22 24,835 0.0167,690 Petrobras Global Finance USD 7.375% 17/01/27 62,939 0.0246,932 Petrobras Global Finance GBP 6.625% 16/01/34 52,086 0.01

111,171 Petrobras Global Finance USD 7.250% 17/03/44 96,204 0.0343,906 Redexis Gas Finance EUR 2.750% 08/04/21 47,584 0.0115,927 Redexis Gas Finance EUR 1.875% 27/04/27 15,831 0.00


210 Samvardhana MothersonAutomotive Systems Group EUR 1.800% 06/07/24 207 0.00

242 Schaeffler Finance EUR 3.250% 15/05/25 260 0.00216,395 Stedin Holding EUR 3.250% 29/12/49 228,324 0.0647,781 Telefonica Europe EUR 3.750% 31/12/49 49,901 0.01



31,935 Vesteda Finance EUR 1.750% 22/07/19 32,779 0.01185,816 Vesteda Finance EUR 2.500% 27/10/22 199,338 0.05

222 Volkswagen InternationalFinance EUR 1.125% 02/10/23 222 0.00





182,365 Vonovia Finance EUR 0.875% 30/03/20 185,645 0.05





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Netherlands (continued)313,232 Vonovia Finance EUR 1.625% 15/12/20 327,024 0.09254,916 Vonovia Finance EUR 1.250% 06/12/24 254,653 0.0769,128 Vonovia Finance EUR 4.000% 29/12/49 74,505 0.0290,281 Vonovia Finance EUR 4.625% 08/04/74 95,686 0.03

90 Wolters Kluwer EUR 6.375% 10/04/18 95 0.00467,246 Ziggo Secured Finance EUR 4.250% 15/01/27 496,025 0.13


112 ANZ New ZealandInternational EUR 0.400% 01/03/22 111 0.00

225 ASB Finance EUR 0.500% 10/06/22 222 0.0090,253 Chorus EUR 1.125% 18/10/23 89,826 0.02

90,159 0.02Norway

0 Statoil EUR 1.625% 09/11/36 0 0.00

0 0.00Panama318,541 Carnival EUR 1.125% 06/11/19 325,664 0.09180,507 Carnival EUR 1.625% 22/02/21 188,123 0.05143,343 Carnival EUR 1.875% 07/11/22 151,314 0.04

665,101 0.18Peru


22,300 0.01Poland219,103 Tauron Polska Energia EUR 2.375% 05/07/27 220,144 0.06

220,144 0.06Portugal

5,309 Brisa Concessao Rodoviaria EUR 1.875% 30/04/25 5,344 0.0053,090 Brisa Concessao Rodoviaria EUR 2.375% 10/05/27 53,722 0.01



327,400 0.09Romania266,778 Romania Government

International Bond EUR 2.875% 26/05/28 275,422 0.07

275,422 0.07Slovenia182,312 Slovenia Government Bond EUR 1.750% 09/10/17 183,373 0.05236,947 Slovenia Government Bond EUR 1.750% 03/11/40 212,743 0.06

396,116 0.11Spain

111 Abertis Infraestructuras EUR 1.375% 20/05/26 110 0.00132,725 Bankia EUR 4.000% 22/05/24 137,922 0.0469,017 Bankia EUR 3.375% 15/03/27 70,307 0.02

148,652 CaixaBank EUR 3.500% 15/02/27 155,470 0.04122,107 Canal de Isabel II Gestion EUR 1.680% 26/02/25 123,794 0.03154,086 Cellnex Telecom EUR 2.375% 16/01/24 158,132 0.0426,628 Cellnex Telecom EUR 2.875% 18/04/25 27,605 0.01


125 Ferrovial Emisiones EUR 1.375% 31/03/25 125 0.00125 Gas Natural Capital Markets EUR 1.125% 11/04/24 126 0.00


122,232 Inmobiliaria Colonial EUR 1.450% 28/10/24 120,174 0.0358,399 Mapfre EUR 4.375% 31/03/47 62,380 0.02

116 Merlin Properties Socimi EUR 1.750% 26/05/25 116 0.00111,489 Santander Consumer Finance EUR 1.100% 30/07/18 112,914 0.0363,833 Santander Consumer Finance EUR 0.900% 18/02/20 65,050 0.02

127,721 Santander Consumer Finance EUR 1.500% 12/11/20 132,495 0.04302,614 Santander Consumer Finance EUR 0.875% 24/01/22 304,239 0.08

180 Santander Issuances EUR 2.500% 18/03/25 184 0.005,143 Spain Government Bond

(traded in Germany) EUR 5.500% 30/07/17 5,165 0.00


153





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


1,118 Spain Government Bond(traded in Spain) EUR 5.500% 30/07/17 1,123 0.00


1,304,138 Spain Government Bond EUR 1.400% 31/01/20 1,359,177 0.37254,833 Spain Government Bond EUR 4.000% 30/04/20 284,712 0.08620,056 Spain Government Bond EUR 1.150% 30/07/20 644,563 0.18142,213 Spain Government Bond EUR 5.500% 30/04/21 171,978 0.05396,079 Spain Government Bond EUR 5.850% 31/01/22 497,929 0.14273,171 Spain Government Bond EUR 5.400% 31/01/23 346,978 0.0963,802 Spain Government Bond EUR 4.800% 31/01/24 80,252 0.02

439,756 Spain Government Bond EUR 3.800% 30/04/24 524,548 0.14180,449 Spain Government Bond EUR 1.950% 30/04/26 189,826 0.05139,753 Spain Government Bond EUR 1.300% 31/10/26 138,557 0.04391,290 Spain Government Bond EUR 1.500% 30/04/27 390,498 0.11312,078 Spain Government Bond EUR 1.450% 31/10/27 307,146 0.08657,324 Spain Government Bond EUR 2.350% 30/07/33 666,606 0.1893,467 Spain Government Bond EUR 2.900% 31/10/46 94,627 0.0383,311 Spain Government Bond EUR 3.450% 30/07/66 88,422 0.02

437,127 Spain Government InflationLinked Bond EUR 0.550% 30/11/19 452,747 0.12


42,472 Telefonica Emisiones GBP 5.597% 12/03/20 53,845 0.01166 Telefonica Emisiones EUR 2.932% 17/10/29 180 0.00

8,985,715 2.44Supranational106,459 Endo Dac via Endo Finance

via Endo Finco USD 6.000% 01/02/25 76,539 0.02149 European Investment Bank EUR 0.250% 14/10/24 149 0.00

68,199 European Investment Bank EUR 0.375% 14/04/26 67,328 0.0275 European Stability

Mechanism EUR 0.500% 02/03/26 75 0.00177,432 JBS USA LUX via JBS USA

Finance USD 8.250% 01/02/20 156,345 0.0473,173 JBS USA LUX via JBS USA

Finance USD 5.875% 15/07/24 60,467 0.0235,486 Venator Finance via Venator

Materials USD 5.750% 15/07/25 31,502 0.01

392,405 0.11Sweden

54,683 Energa Finance EUR 2.125% 07/03/27 54,415 0.0271,937 Essity EUR 0.625% 28/03/22 71,724 0.0284,944 Essity EUR 1.125% 27/03/24 85,226 0.02

149,714 Molnlycke Holding EUR 1.500% 28/02/22 154,528 0.04136 Nordea Bank EUR 1.375% 12/04/18 137 0.0036 Nordea Bank EUR 4.000% 11/07/19 39 0.0033 Nordea Bank EUR 2.000% 17/02/21 35 0.0098 PZU Finance EUR 1.375% 03/07/19 100 0.0072 Scania EUR 0.018% 24/10/18 72 0.00

180 Scania CV EUR 0.069% 20/04/20 181 0.00559,549 Svenska Handelsbanken EUR 1.125% 14/12/22 576,887 0.16212,361 Telia EUR 3.000% 04/04/78 218,821 0.0675,547 Vattenfall EUR 3.000% 19/03/77 73,978 0.02




Switzerland EUR 1.500% 30/11/24 424,616 0.12


148 Anglo American Capital EUR 1.500% 01/04/20 151 0.00122 Aviva EUR 3.875% 03/07/44 131 0.00

44,543 Aviva EUR 3.375% 04/12/45 45,883 0.01222 Barclays EUR 1.875% 08/12/23 231 0.00

217,139 Barclays GBP 3.125% 17/01/24 256,118 0.07243 Barclays EUR 2.625% 11/11/25 250 0.00

258,602 Barclays GBP 3.250% 12/02/27 300,472 0.08249 BAT International Finance EUR 0.375% 13/03/19 251 0.00





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


69,017 BAT International Finance EUR 1.000% 23/05/22 69,828 0.02265 BG Energy Capital EUR 1.250% 21/11/22 274 0.00150 BP Capital Markets EUR 1.117% 25/01/24 152 0.00227 British Telecommunications EUR 0.625% 10/03/21 228 0.00

0 British Telecommunications EUR 1.750% 10/03/26 0 0.00266 British Telecommunications EUR 1.500% 23/06/27 260 0.00123 Cadent Finance EUR 0.625% 22/09/24 119 0.00

26,120 Centrica EUR 3.000% 10/04/76 26,800 0.0183,245 Channel Link Enterprises


Finance EUR 2.706% 30/06/50 78,992 0.02249 Compass Group EUR 3.125% 13/02/19 261 0.00

419,412 Coventry Building Society EUR 2.500% 18/11/20 447,922 0.12307 Credit Suisse EUR 1.000% 07/06/23 312 0.00

36,367 CYBG GBP 3.125% 22/06/25 40,984 0.01133,787 CYBG GBP 5.000% 09/02/26 154,651 0.04

187 Diageo Finance EUR 1.125% 20/05/19 191 0.00274,051 DS Smith EUR 2.250% 16/09/22 289,188 0.08

369 EE Finance EUR 3.250% 03/08/18 381 0.00141,751 FCE Bank EUR 1.660% 11/02/21 147,087 0.04166,438 Friends Life Holdings GBP 8.250% 21/04/22 244,652 0.07206,641 G4S International Finance EUR 1.500% 09/01/23 209,696 0.0647,781 GKN Holdings GBP 3.375% 12/05/32 54,526 0.01

141 Global Switch Holdings EUR 1.500% 31/01/24 141 0.0048,471 Hammerson EUR 1.750% 15/03/23 50,266 0.01

276,069 HSBC Holdings EUR 0.369% 27/09/22 278,516 0.0890,253 HSBC Holdings GBP 2.625% 16/08/28 103,128 0.0379,635 HSBC Holdings GBP 6.750% 11/09/28 119,500 0.03

238 Imperial Brands Finance EUR 1.375% 27/01/25 237 0.00120,654 International Car Wash

Group Financing EUR 6.625% 15/07/19 122,702 0.0353,090 Investec GBP 4.500% 05/05/22 65,267 0.02

124,072 ITV EUR 2.125% 21/09/22 128,754 0.03162,350 ITV EUR 2.000% 01/12/23 165,545 0.04


Automotive GBP 2.750% 24/01/21 35,011 0.01147 Jaguar Land Rover

Automotive EUR 2.200% 15/01/24 149 0.0017,743 KCA Deutag UK Finance USD 7.250% 15/05/21 13,845 0.0014,195 KCA Deutag UK Finance USD 9.875% 01/04/22 12,134 0.0016,617 Ladbrokes Group Finance GBP 5.125% 08/09/23 18,783 0.0178,202 Lloyds Banking Group EUR 1.000% 09/11/23 78,197 0.0295,562 Merlin Entertainments EUR 2.750% 15/03/22 99,996 0.03

118,098 Nationwide Building Society EUR 0.500% 29/10/19 119,207 0.03106,180 Nationwide Building Society EUR 6.750% 22/07/20 125,854 0.03165,960 Nationwide Building Society EUR 4.125% 20/03/23 170,375 0.05

250 Nationwide Building Society EUR 0.625% 19/04/23 248 0.00133,044 Nationwide Building Society EUR 1.375% 29/06/32 130,451 0.0430,261 Old Mutual GBP 8.000% 03/06/21 39,919 0.01

181,037 Pirelli International EUR 1.750% 18/11/19 184,999 0.05270,760 Royal Bank of Scotland EUR 0.500% 15/05/24 268,110 0.07472,502 Royal Bank of Scotland

Group EUR 2.000% 08/03/23 488,319 0.13154,884 Royal Bank of Scotland

Group EUR 2.500% 22/03/23 164,666 0.04135,964 Santander UK EUR 0.875% 13/01/20 138,271 0.04

85 Santander UK EUR 2.625% 16/07/20 90 0.00225 Santander UK EUR 0.875% 25/11/20 229 0.00

83,989 Skipton Building Society GBP 1.750% 30/06/22 94,783 0.03212,361 Sky EUR 1.500% 15/09/21 220,078 0.06

173 Sky EUR 1.875% 24/11/23 181 0.0085 Sky EUR 2.500% 15/09/26 91 0.00

95,562 Smiths Group EUR 2.000% 23/02/27 97,146 0.03430,030 SSE EUR 1.750% 08/09/23 454,538 0.12105,649 SSE EUR 5.625% 29/09/49 107,061 0.0349,852 SSE GBP 3.875% 29/12/49 58,424 0.0253,090 SSE GBP 3.625% 16/09/77 61,207 0.02

99 Standard Chartered EUR 3.625% 23/11/22 109 0.00138,034 Tesco GBP 5.000% 24/03/23 173,739 0.0569,389 Tesco GBP 6.000% 14/12/29 92,242 0.03

170,419 TSB Banking Group GBP 5.750% 06/05/26 210,713 0.06


154





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United Kingdom (continued)141,946 Tullow Oil USD 6.250% 15/04/22 114,031 0.0339,818 Virgin Media Secured

Finance GBP 4.875% 15/01/27 46,808 0.0156,647 Virgin Media Secured

Finance GBP 6.250% 28/03/29 70,200 0.02220 Vodafone Group EUR 0.500% 30/01/24 212 0.00

82,077 William Hill GBP 4.875% 07/09/23 96,295 0.03122 WPP Finance 2013 EUR 0.750% 18/11/19 124 0.00

209,228 Yorkshire Building Society EUR 2.125% 18/03/19 216,493 0.06438,100 Yorkshire Building Society EUR 1.250% 17/03/22 448,282 0.12

8,139,494 2.21United States108,021 A Schulman USD 6.875% 01/06/23 100,628 0.03138,034 AbbVie EUR 0.375% 18/11/19 138,704 0.04177,645 Aircastle USD 4.125% 01/05/24 159,161 0.04106,459 Alere USD 6.500% 15/06/20 95,090 0.03141,945 Allegheny Technologies USD 7.875% 15/08/23 130,676 0.04110,859 Allegiant Travel USD 5.500% 15/07/19 101,329 0.03104,614 Alliance Resource Operating

Partners via AllianceResource Finance USD 7.500% 01/05/25 96,767 0.03

94,465 Allison Transmission USD 5.000% 01/10/24 85,102 0.02141,946 Ally Financial USD 8.000% 01/11/31 153,078 0.0486,658 Alpine Finance Merger Sub USD 6.875% 01/08/25 77,498 0.0249,681 AMC Entertainment


Holdings USD 6.125% 15/05/27 65,824 0.02141,945 American Airlines Group USD 5.500% 01/10/19 131,684 0.0474,326 American Tower EUR 1.375% 04/04/25 73,306 0.02

139 Apple EUR 1.375% 17/01/24 144 0.0064,656 Appvion USD 9.000% 01/06/20 29,762 0.01

197,040 AT&T EUR 1.800% 04/09/26 195,316 0.05211,311 AT&T EUR 2.350% 04/09/29 209,060 0.0649,268 AT&T EUR 3.550% 17/12/32 53,749 0.01

149,714 AT&T EUR 2.450% 15/03/35 138,165 0.04160,099 AT&T EUR 3.150% 04/09/36 158,026 0.04118,656 AT&T USD 5.450% 01/03/47 112,418 0.03

211 Avery Dennison EUR 1.250% 03/03/25 206 0.0062 Bank of America EUR 4.625% 07/08/17 63 0.00

132,725 Bank of America GBP 6.125% 15/09/21 179,553 0.05300 Bank of America EUR 0.736% 07/02/22 301 0.00

145,786 Bank of America EUR 1.625% 14/09/22 151,349 0.04355,704 Bank of America EUR 0.451% 04/05/23 356,512 0.10

233 Bank of America EUR 1.379% 07/02/25 235 0.00191,269 Bank of America EUR 1.776% 04/05/27 192,408 0.05100,923 Beazer Homes USA USD 6.750% 15/03/25 92,468 0.02

104 Becton Dickinson & Co EUR 0.368% 06/06/19 104 0.00122,107 Becton Dickinson & Co EUR 1.000% 15/12/22 121,405 0.03

107 Becton Dickinson & Co EUR 1.900% 15/12/26 107 0.00297 Berkshire Hathaway EUR 1.300% 15/03/24 304 0.00

171,044 C&S Group Enterprises USD 5.375% 15/07/22 148,467 0.0449,184 CalAtlantic Group USD 5.875% 15/11/24 46,896 0.0149,184 CalAtlantic Group USD 5.250% 01/06/26 44,902 0.0165,508 Cardtronics via Cardtronics

USA USD 5.500% 01/05/25 59,302 0.02133,216 Carlson Travel USD 6.750% 15/12/23 119,136 0.03111,427 Carlson Travel USD 9.500% 15/12/24 100,261 0.03141,945 CCO Holdings via CCO



141,945 Chemours USD 7.000% 15/05/25 136,277 0.0424,557 Chemours USD 5.375% 15/05/27 22,255 0.0143,151 Chesapeake Energy USD 8.000% 15/12/22 40,151 0.0170,973 Chesapeake Energy USD 8.000% 15/01/25 61,838 0.0234,138 CHS USD 5.125% 01/08/21 30,417 0.01

106,246 CHS USD 6.875% 01/02/22 81,742 0.0285,735 CHS USD 6.250% 31/03/23 77,884 0.02

177,432 Citgo Holding USD 10.750% 15/02/20 169,762 0.0590 Citigroup EUR 5.000% 02/08/19 99 0.00

12,626 Citigroup EUR 0.750% 26/10/23 12,414 0.00





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


70,973 Clear Channel WorldwideHoldings USD 7.625% 15/03/20 61,605 0.02


137 Coca-Cola EUR 0.000% 09/03/21 136 0.0057,843 Commercial Metals USD 5.375% 15/07/27 51,793 0.0199,362 Continental Resources USD 5.000% 15/09/22 85,811 0.02

106,459 Continental Resources USD 4.900% 01/06/44 78,406 0.02239 Continental Rubber of

America EUR 0.500% 19/02/19 240 0.009,723 Covey Park Energy via

Covey Park Finance USD 7.500% 15/05/25 8,546 0.00177,432 CSVC Acquisition USD 7.750% 15/06/25 159,359 0.04141,945 CVR Partners via CVR

Nitrogen Finance USD 9.250% 15/06/23 130,676 0.0439,603 Deck Chassis Acquisition USD 10.000% 15/06/23 38,629 0.0186,942 Dell USD 7.100% 15/04/28 84,041 0.02

218,519 Digital Euro Finco EUR 2.625% 15/04/24 232,343 0.06120,143 Discovery Communications EUR 1.900% 19/03/27 114,973 0.0370,973 DISH DBS USD 5.000% 15/03/23 63,938 0.0277,360 DISH DBS USD 7.750% 01/07/26 80,545 0.0222,427 Eagle Holding II USD 7.625% 15/05/22 20,278 0.01

141 Ecolab EUR 1.000% 15/01/24 141 0.0055,214 Eli Lilly & Co EUR 2.125% 03/06/30 58,008 0.0288,716 EnPro Industries (traded in

United States) USD 5.875% 15/09/22 81,478 0.0242,300 EnPro Industries (traded in

United States) USD 5.875% 15/09/22 38,849 0.0170,973 EP Energy via Everest



Acquisition Finance USD 8.000% 15/02/25 93,340 0.02158 FedEx EUR 1.000% 11/01/23 159 0.0082 FedEx EUR 1.625% 11/01/27 82 0.00


141,946 Frontier Communications USD 8.125% 01/10/18 131,765 0.04141,945 Gates Global via Gates

Global USD 6.000% 15/07/22 125,387 0.03181 General Electric EUR 1.250% 26/05/23 188 0.00258 General Electric EUR 0.875% 17/05/25 255 0.00

159,472 General Electric EUR 1.500% 17/05/29 157,685 0.04188,078 Genesis Energy via Genesis

Energy Finance USD 6.000% 15/05/23 162,427 0.04101 Goldman Sachs Group EUR 0.750% 10/05/19 102 0.00

86,802 Goldman Sachs Group EUR 0.671% 27/07/21 88,644 0.02101,455 Goldman Sachs Group EUR 2.000% 27/07/23 106,686 0.03292,543 Goldman Sachs Group EUR 1.375% 15/05/24 295,161 0.08146,630 Goodyear Tire & Rubber USD 4.875% 15/03/27 130,810 0.04107,524 Halyard Health USD 6.250% 15/10/22 98,752 0.0370,973 HCA USD 5.375% 01/02/25 65,792 0.02

113,556 HCA USD 5.250% 15/06/26 107,627 0.03106,459 Hertz USD 7.625% 01/06/22 93,350 0.03141,946 High Ridge Brands USD 8.875% 15/03/25 124,609 0.03159,689 Hughes Satellite Systems USD 5.250% 01/08/26 146,836 0.0470,973 Icahn Enterprises via Icahn


Enterprises Finance USD 6.750% 01/02/24 130,066 0.0314 Illinois Tool Works (traded in

Germany) EUR 1.250% 22/05/23 14 0.0044 Illinois Tool Works (traded in

United States) EUR 1.250% 22/05/23 45 0.00151 International Business

Machines EUR 1.250% 26/05/23 156 0.00195 International Flavors &

Fragrances EUR 1.750% 14/03/24 203 0.0070,973 Iron Mountain USD 6.000% 01/10/20 64,560 0.02

104,401 j2 Cloud Services viaj2 Global Co-Obligor USD 6.000% 15/07/25 94,739 0.03


155





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United States (continued)259,547 JB Poindexter & Co USD 9.000% 01/04/22 239,226 0.06

84 Johnson & Johnson EUR 0.650% 20/05/24 84 0.00211,121 JPMorgan Chase & Co EUR 0.625% 25/01/24 206,325 0.06312,807 JPMorgan Chase & Co EUR 1.638% 18/05/28 312,369 0.08116,750 KeHE Distributors via KeHE

Finance USD 7.625% 15/08/21 102,875 0.03132 Kellogg EUR 0.800% 17/11/22 131 0.00

106,459 Kenan Advantage Group USD 7.875% 31/07/23 98,474 0.03141,946 Lennar USD 4.500% 30/04/24 128,946 0.03212,918 LPL Holdings USD 5.750% 15/09/25 194,614 0.05

55 McDonald’s EUR 1.000% 15/11/23 56 0.00114 Metropolitan Life Global

Funding I EUR 2.375% 30/09/19 119 0.00142,547 Metropolitan Life Global

Funding I EUR 0.875% 20/01/22 145,079 0.04243 Microsoft EUR 3.125% 06/12/28 290 0.00101 Mohawk Industries EUR 2.000% 14/01/22 106 0.00

25,749 Mondelez International EUR 2.375% 06/03/35 24,810 0.01229 Morgan Stanley EUR 0.171% 03/12/19 229 0.00222 Morgan Stanley EUR 5.375% 10/08/20 256 0.00

255,948 Morgan Stanley EUR 0.371% 27/01/22 257,849 0.07106,180 Morgan Stanley EUR 1.000% 02/12/22 106,936 0.03129,678 Morgan Stanley EUR 1.750% 11/03/24 134,081 0.0478,627 Morgan Stanley EUR 1.375% 27/10/26 76,223 0.02

313,232 Morgan Stanley EUR 1.875% 27/04/27 313,577 0.080 MPT Operating Partnership

via MPT Finance EUR 4.000% 19/08/22 0 0.00170,335 Nabors Industries USD 5.500% 15/01/23 142,064 0.04

97 National Grid North America EUR 1.750% 20/02/18 98 0.00319 National Grid North America EUR 0.750% 11/02/22 321 0.00

106,459 Newfield Exploration USD 5.375% 01/01/26 97,074 0.03242,230 NRG Energy USD 7.250% 15/05/26 220,875 0.06177,432 Oasis Petroleum USD 6.875% 15/03/22 151,678 0.0474,326 Omega Healthcare Investors USD 4.375% 01/08/23 66,912 0.0254,791 Orchestra Borrower via

Orchestra Co-Issuer USD 6.750% 15/06/22 49,620 0.0177,644 Ortho-Clinical Diagnostics

via Ortho-ClinicalDiagnostics USD 6.625% 15/05/22 65,353 0.02

148,652 Parker-Hannifin EUR 1.125% 01/03/25 148,242 0.04144,288 PBF Holding via PBF

Finance USD 7.000% 15/11/23 125,242 0.03177,432 Peabody Energy USD 6.375% 31/03/25 153,817 0.04255,502 Penske Automotive Group USD 5.500% 15/05/26 223,456 0.06236,213 Pfizer EUR 0.000% 06/03/20 235,808 0.06

0 Philip Morris International EUR 2.125% 30/05/19 0 0.0058,983 Philip Morris International EUR 1.750% 19/03/20 61,496 0.0299,362 Platform Specialty Products USD 10.375% 01/05/21 96,592 0.03

141,946 Post Holdings USD 5.000% 15/08/26 124,454 0.0379,714 Priceline Group EUR 0.800% 10/03/22 79,459 0.02

95 Priceline Group EUR 2.375% 23/09/24 101 0.00209,370 Prime Security Services

Borrower via Prime Finance USD 9.250% 15/05/23 199,936 0.0594,964 Prologis EUR 1.375% 07/10/20 97,995 0.03

320,027 Prologis EUR 3.000% 18/01/22 352,260 0.10141,945 RegionalCare Hospital

Partners Holdings USD 8.250% 01/05/23 134,099 0.04141,946 Sirius XM Radio USD 5.375% 15/04/25 128,965 0.03160,185 Sirius XM Radio USD 5.000% 01/08/27 142,201 0.0498,865 Six Flags Entertainment USD 4.875% 31/07/24 87,429 0.02

139,816 SM Energy USD 6.125% 15/11/22 117,070 0.03141,945 SM Energy USD 6.750% 15/09/26 119,436 0.0359,404 Sonic Automotive USD 6.125% 15/03/27 51,954 0.01

212,918 Sprint Capital USD 6.875% 15/11/28 207,975 0.06106,459 Sprint Capital USD 8.750% 15/03/32 117,842 0.03112,066 SunCoke Energy Partners via


141,945 Sunoco via Sunoco Finance USD 6.250% 15/04/21 130,365 0.0422,853 Surgery Center Holdings USD 6.750% 01/07/25 20,338 0.0121,647 Tempo Acquisition via

Tempo Acquisition Finance USD 6.750% 01/06/25 19,454 0.0049,042 Tenet Healthcare USD 4.625% 15/07/24 43,160 0.01





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


61,462 THC Escrow III USD 4.625% 15/07/24 54,169 0.0176,225 THC Escrow III USD 5.125% 01/05/25 67,249 0.02

199,619 Thermo Fisher Scientific EUR 1.500% 01/12/20 206,524 0.060 Thermo Fisher Scientific

(traded in Luxembourg) EUR 0.750% 12/09/24 0 0.00111 Thermo Fisher Scientific

(traded in United States) EUR 0.750% 12/09/24 106 0.0033,872 Thermo Fisher Scientific EUR 2.000% 15/04/25 35,381 0.0173,457 TIBCO Software USD 11.375% 01/12/21 71,167 0.02

0 T-Mobile USA USD 6.731% 28/04/22 0 0.0043,693 T-Mobile USA USD 6.000% 15/04/24 41,086 0.01

141,945 T-Mobile USA USD 6.500% 15/01/26 137,677 0.0455,004 TransDigm USD 6.500% 15/05/25 49,190 0.01

124,202 TransDigm USD 6.375% 15/06/26 110,803 0.0321,236 United States Treasury Bond USD 3.000% 15/02/47 19,211 0.00

126 US Bancorp EUR 0.850% 07/06/24 125 0.0025,408 USG USD 4.875% 01/06/27 22,973 0.0179,206 USIS Merger Sub USD 6.875% 01/05/25 70,834 0.0270,973 Valeant Pharmaceuticals



International USD 7.000% 15/03/24 78,805 0.0256,494 VeriSign USD 4.750% 15/07/27 50,337 0.01

41 Verizon Communications EUR 0.500% 02/06/22 41 0.0061 VF EUR 0.625% 20/09/23 60 0.00

20,068 Walgreens Boots Alliance EUR 2.125% 20/11/26 20,729 0.01116 Wells Fargo & Co EUR 2.625% 16/08/22 128 0.00119 Wells Fargo & Co EUR 1.500% 12/09/22 124 0.0034 Wells Fargo & Co EUR 2.250% 02/05/23 37 0.00

106,459 West USD 5.375% 15/07/22 94,507 0.0392,265 Western Digital USD 10.500% 01/04/24 95,632 0.03

107,950 WMG Acquisition USD 5.000% 01/08/23 97,368 0.0355,359 Wynn Las Vegas via Wynn

Las Vegas Capital USD 5.250% 15/05/27 49,781 0.0192,832 Xerium Technologies USD 9.500% 15/08/21 86,683 0.02

113,060 York Risk Services Holding USD 8.500% 01/10/22 95,906 0.03141,946 Zachry Holdings USD 7.500% 01/02/20 128,809 0.0345,210 Zayo Group via Zayo Capital USD 5.750% 15/01/27 41,571 0.01

236 ZF North America Capital EUR 2.750% 27/04/23 253 0.0088,873 Zimmer Biomet Holdings EUR 1.414% 13/12/22 90,349 0.0247,781 Zimmer Biomet Holdings EUR 2.425% 13/12/26 49,599 0.01

17,397,263 4.72


156






Currency Market

Value

% of

Net

Assets

SHARES EUR %Australia

8,205 Australia & New Zealand Banking Group AUD 158,474 0.047,306 Bank of Queensland AUD 56,256 0.015,682 BlueScope Steel AUD 50,478 0.01

10,759 BWP Trust AUD 21,563 0.012,323 Caltex Australia AUD 49,377 0.016,681 Charter Hall Retail REIT AUD 18,288 0.00

39,623 Cromwell Property Group AUD 25,316 0.011,253 CSL AUD 116,290 0.03

25,359 Dexus AUD 161,679 0.0421,662 Genworth Mortgage Insurance Australia AUD 42,684 0.0145,406 Goodman Group AUD 240,323 0.0645,418 GPT Group AUD 146,310 0.04

9,335 Harvey Norman Holdings AUD 23,983 0.0129,315 HT&E AUD 52,048 0.0112,033 Investa Office Fund AUD 35,527 0.01

1,830 Lend Lease Group AUD 20,494 0.01959 Macquarie Group AUD 57,106 0.02

116,644 Mirvac Group AUD 167,091 0.050 National Australia Bank AUD 0 0.00

12,979 Oil Search AUD 59,529 0.028,755 Origin Energy AUD 40,390 0.01

17,289 Qantas Airways AUD 66,510 0.02134,192 Scentre Group AUD 365,502 0.10

14,270 Shopping Centres Australasia PropertyGroup AUD 21,017 0.01

22,973 South32 AUD 41,405 0.0158,642 Stockland AUD 172,740 0.0514,972 Syrah Resources AUD 27,890 0.0163,728 Vicinity Centres AUD 110,147 0.0348,249 Westfield AUD 260,561 0.07

2,498 Woodside Petroleum AUD 50,179 0.01

2,659,157 0.72Austria

2,645 BUWOG EUR 66,542 0.0220,766 IMMOFINANZ EUR 41,553 0.01

3,132 Lenzing EUR 491,341 0.1318 Porr EUR 508 0.00

599,944 0.16Bangladesh

18,453 BRAC Bank BDT 16,201 0.0150,069 Square Pharmaceuticals BDT 158,012 0.04

174,213 0.05Belgium

471 Cofinimmo EUR 50,753 0.014,541 D’ieteren EUR 185,822 0.053,442 KBC Group EUR 228,602 0.062,723 Solvay EUR 319,916 0.092,143 UCB EUR 129,049 0.04

250 Umicore EUR 15,232 0.00

929,374 0.25Brazil

0 Banco Bradesco BRL 0 0.0014,729 Banco do Brasil BRL 104,459 0.03

8,761 Banco do Estado do Rio Grande do Sul –Pref – BRL 30,463 0.01

16,289 Banco Santander Brasil – ADR – USD 107,544 0.0321,689 BR Malls Participacoes BRL 68,586 0.02

4,216 Braskem – Pref – BRL 38,153 0.013,091 BTG Pactual Group BRL 12,272 0.008,521 Cia de Saneamento Basico do Estado de

Sao Paulo – ADR – USD 71,120 0.025,596 Cia de Saneamento do Parana – Pref – BRL 16,140 0.01

991 Cia Paranaense de Energia – ADR – USD 6,376 0.001,112 Gafisa BRL 3,185 0.001,850 Iguatemi Empresa de Shopping Centers BRL 16,114 0.004,593 Itau Unibanco Holding – ADR – USD 44,502 0.01

45,413 JBS BRL 78,473 0.02945 M Dias Branco BRL 12,332 0.00332 Magazine Luiza BRL 22,526 0.01

53,639 Metalurgica Gerdau – Pref – BRL 70,545 0.029,403 MRV Engenharia e Participacoes BRL 33,642 0.012,355 Multiplan Empreendimentos Imobiliarios BRL 40,709 0.016,357 Petroleo Brasileiro – ADR – USD 44,531 0.01

11,905 Petroleo Brasileiro – Pref – BRL 38,970 0.014,639 Sao Martinho BRL 21,116 0.011,209 TIM Participacoes – ADR – USD 15,689 0.00






Currency Market

Value

% of

Net

Assets

SHARES EUR %Brazil (continued)

4,358 Transmissora Alianca de Energia Eletrica BRL 25,416 0.015,292 Vale – ADR – USD 40,598 0.016,687 Vale – Pref – BRL 47,619 0.01

1,011,080 0.27Canada

2,279 Allied Properties Real Estate InvestmentTrust CAD 59,873 0.02

3,776 Artis Real Estate Investment Trust CAD 33,399 0.01933 Boardwalk Real Estate Investment Trust CAD 29,950 0.01

3,575 Canadian Apartment Properties REIT CAD 81,018 0.021,945 Canadian Real Estate Investment Trust CAD 60,242 0.024,758 Chartwell Retirement Residences CAD 49,755 0.014,362 Cominar Real Estate Investment Trust CAD 37,427 0.012,912 Dream Office Real Estate Investment Trust CAD 38,431 0.013,662 First Capital Realty CAD 48,853 0.011,032 Granite Real Estate Investment CAD 35,741 0.017,416 H&R Real Estate Investment Trust CAD 110,240 0.035,603 Pure Industrial Real Estate Trust CAD 26,025 0.017,917 RioCan Real Estate Investment Trust CAD 128,654 0.032,660 Smart Real Estate Investment Trust CAD 57,677 0.02

797,285 0.22Chile

43,369 Antofagasta GBP 394,892 0.111,384 CAP CLP 9,690 0.00

404,582 0.11China

62,106 Agile Property Holdings HKD 49,874 0.01465,208 Agricultural Bank of China – H – HKD 192,800 0.05

23,958 Air China – H – HKD 21,661 0.016,146 Alibaba Group Holding – ADR – USD 759,287 0.219,831 Anhui Conch Cement – H – HKD 29,977 0.015,819 Autohome – ADR – USD 231,436 0.06

47,538 BAIC Motor – H – HKD 40,417 0.01421 Baidu – ADR – USD 66,082 0.02

308,460 Bank of China – H – HKD 132,687 0.048,167 Baozu – ADR – USD 158,758 0.04

24,485 BYD Electronic International HKD 42,571 0.01471 Changyou.com – ADR – USD 15,997 0.00

159,611 China Cinda Asset Management – H – HKD 52,166 0.0152,683 China CITIC Bank – H – HKD 28,283 0.0118,222 China Communications Construction – H – HKD 20,588 0.01

383,283 China Construction Bank – H – HKD 260,439 0.0730,597 China Evergrande Group HKD 48,180 0.0177,097 China Forestry Holdings EUR 0 0.0079,170 China Huarong Asset Management – H – HKD 26,942 0.01

3,682 China Lesso Group Holdings HKD 2,481 0.002,257 China Lodging Group – ADR – USD 159,673 0.04

53,185 China National Building Material – H – HKD 27,716 0.0117,159 China Petroleum & Chemical – H – HKD 11,736 0.0032,030 China Railway Construction – H – HKD 36,622 0.0151,509 China Railway Group – H – HKD 35,579 0.01

5,813 China Resources Pharmaceutical Group HKD 6,365 0.008,038 China Shenhua Energyn – H – HKD 15,691 0.00

27,656 China Southern Airlines – H – HKD 20,501 0.01178,459 China Telecom – H – HKD 74,361 0.02


19,503 China ZhengTong Auto Services Holdings HKD 13,690 0.0020,461 Chinammunications Services – H – HKD 10,341 0.00

124,370 CIFI Holdings Group HKD 48,470 0.0124,941 Country Garden Holdings HKD 25,351 0.0151,552 Dongfeng Motor Group – H – HKD 53,442 0.0240,050 Fufeng Group HKD 18,892 0.0138,152 Geely Automobile Holdings HKD 72,159 0.02

106,863 Guangzhou Automobile Group – H – HKD 164,429 0.0544,955 Guangzhou R&F Properties – H – HKD 61,295 0.0226,422 Harbin Electric – H – HKD 11,692 0.0044,417 Hua Hong Semiconductor HKD 52,879 0.01

362,277 Industrial & Commercial Bank of China –H – HKD 214,429 0.06

2,153 JA Solar Holdings – ADR – USD 11,984 0.0011,432 Jiangxi Copper – H – HKD 16,461 0.01

7,526 Kaisa Group Holdings HKD 2,088 0.0057,807 KWG Property Holding HKD 33,956 0.0159,545 Li Ning HKD 39,725 0.0147,414 Logan Property Holdings HKD 27,425 0.01


157






Currency Market

Value

% of

Net

Assets

SHARES EUR %China (continued)

29,762 Lonking Holdings HKD 8,190 0.0011,353 Luthai Textile – B – HKD 10,928 0.00

188 Momo – ADR – USD 6,089 0.00611 NetEase – ADR – USD 161,033 0.04

11,258 New China Life Insurance – H – HKD 50,197 0.011,242 New Oriental Education & Technology

Group – ADR – USD 76,754 0.0277,969 PetroChina – H – HKD 41,858 0.0144,219 PICC Property & Casualty – H – HKD 64,762 0.0230,009 Powerlong Real Estate Holdings HKD 11,325 0.0011,734 Shanghai Haohai Biological Technology –

H – HKD 55,881 0.0222,326 Shanghai Pharmaceuticals Holding – H – HKD 58,299 0.0230,920 Shenzhou International Group Holdings HKD 178,150 0.0568,341 Shui On Land HKD 14,507 0.00

289 SINA USD 21,494 0.0111,939 Sino-Ocean Group Holding HKD 5,122 0.0013,552 Sinopec Shanghai Petrochemical – H – HKD 6,362 0.0038,607 Sinotruk Hong Kong HKD 24,586 0.01

3,083 Tencent Holdings HKD 96,687 0.0325,662 Tianneng Power International HKD 18,475 0.0144,967 Times Property Holdings HKD 24,646 0.01

10 Weibo – ADR – USD 586 0.004,166 Weiqiao Textile – H – HKD 2,611 0.00




4,624,917 1.26Colombia

3,904 Ecopetrol – ADR – USD 31,113 0.01

31,113 0.01Denmark

2 ALK-Abello DKK 226 0.007,515 Danske Bank DKK 253,079 0.075,960 Dfds DKK 278,060 0.07

54 DSV DKK 2,916 0.0012 H Lundbeck DKK 614 0.00

1,128 Novo Nordisk – ADR – USD 42,434 0.015,797 Novo Nordisk – B – DKK 217,360 0.062,057 Pandora DKK 168,043 0.05

43 Spar Nord Bank DKK 495 0.004,577 Vestas Wind Systems DKK 369,997 0.10

1,333,224 0.36Finland

66 Kone – B – EUR 2,943 0.0051,436 Nokia EUR 275,437 0.08

27 Nokian Renkaat EUR 985 0.0023 Sampo – A – EUR 1,044 0.00

14,673 UPM-Kymmene EUR 366,242 0.10

646,651 0.18France

65 Altran Technologies EUR 926 0.006,651 Amundi EUR 421,333 0.114,542 Arkema EUR 424,400 0.122,850 Atos EUR 350,238 0.10

4 BioMerieux EUR 839 0.0013,854 BNP Paribas EUR 873,613 0.2410,100 Bouygues EUR 372,899 0.10

4,652 Cie Generale des Etablissements Michelin EUR 541,544 0.1519,356 Credit Agricole EUR 272,623 0.07

2,765 Danone – ADR – USD 36,417 0.0154 Elior Group EUR 1,379 0.0077 Elis EUR 1,548 0.00

10,967 Faurecia EUR 487,682 0.13824 Fonciere Des Regions EUR 66,898 0.02855 Gecina EUR 117,420 0.03864 ICADE EUR 63,515 0.02

5,306 Klepierre EUR 190,422 0.054,309 Legrand EUR 263,934 0.07

10 L’Oreal EUR 1,783 0.0021 Pernod Ricard EUR 2,403 0.00

7,080 Publicis Groupe EUR 462,418 0.134,738 Renault EUR 375,502 0.107,165 Sanofi EUR 600,101 0.16






Currency Market

Value

% of

Net

Assets


7,633 Schneider Electric EUR 513,435 0.1412,431 Societe Generale EUR 585,618 0.16

2,247 Sodexo EUR 254,379 0.0726,916 TOTAL EUR 1,165,065 0.32

2,077 Unibail-Rodamco (traded in France) EUR 458,247 0.12268 Unibail-Rodamco (traded in Netherlands) EUR 59,232 0.02

4,360 Valeo EUR 257,203 0.0726,972 Vallourec EUR 143,462 0.04

2,682 Vinci EUR 200,400 0.0521 Worldline EUR 637 0.00

9,567,515 2.60Germany

6,040 Aareal Bank EUR 209,652 0.061,936 adidas EUR 324,788 0.09

352 Adidas – ADR – USD 29,604 0.012,106 Allianz EUR 363,089 0.103,341 alstria office REIT EUR 39,543 0.01

951 Aurubis EUR 65,377 0.025,238 BASF EUR 424,709 0.118,205 Bayer EUR 928,824 0.25

21 Beiersdorf EUR 1,887 0.0015 Brenntag EUR 755 0.00

1,500 Continental EUR 283,337 0.085,095 Deutsche Boerse EUR 470,900 0.131,285 Deutsche Euroshop EUR 44,358 0.01

10,967 Deutsche Post EUR 359,944 0.108,472 Deutsche Wohnen EUR 283,714 0.083,811 Fresenius & Co EUR 286,027 0.08

9 FUCHS PETROLUB – Pref – EUR 417 0.0086 Infineon Technologies EUR 1,596 0.00

1,932 KION Group EUR 129,299 0.031,424 LEG Immobilien EUR 117,243 0.031,129 Merck EUR 119,374 0.032,610 MTU Aero Engines EUR 322,372 0.093,941 ProSiebenSat.1 Media EUR 144,391 0.04

23,212 RWE EUR 404,932 0.1118,955 Salzgitter EUR 676,992 0.1816,624 Schaeffler – Pref – EUR 208,460 0.06

5,474 Siemens EUR 658,808 0.183,132 TAG Immobilien EUR 43,106 0.01

333 Uniper EUR 5,479 0.0037 United Internet EUR 1,794 0.00

2,667 Volkswagen – Pref – EUR 355,605 0.1010,987 Vonovia EUR 381,956 0.10

4,098 Wirecard EUR 228,368 0.06

7,916,700 2.15Greece

316 Motor Oil Hellas Corinth Refineries EUR 6,029 0.00

6,029 0.00Hong Kong

20,846 BOC Hong Kong Holdings HKD 87,449 0.029,375 Cheung Kong Property Holdings HKD 64,388 0.02

97,897 China Agri-Industries Holdings HKD 35,624 0.0134,660 China Everbright HKD 66,177 0.0236,178 China Resources Cement Holdings HKD 15,765 0.00

9,219 China Resources Land HKD 23,555 0.0193,073 China Unicom Hong Kong HKD 121,259 0.0318,370 Chow Tai Fook Jewellery Group HKD 17,063 0.00


26,972 Haier Electronics Group HKD 61,495 0.0217,121 Hang Lung Group HKD 62,111 0.0257,100 Hang Lung Properties HKD 125,055 0.0328,482 Henderson Land Development HKD 139,312 0.0430,459 Hongkong Land Holdings USD 196,555 0.0515,849 Hysan Development HKD 66,305 0.0217,140 K Wah International Holdings HKD 9,125 0.0029,382 Kingboard Chemical Holdings HKD 102,631 0.0331,755 Kingboard Laminates Holdings HKD 33,597 0.0154,915 Link REIT HKD 366,360 0.10

4,662 Luk Fook Holdings International HKD 13,979 0.0030,502 Nine Dragons Paper Holdings HKD 35,629 0.0124,478 Peace Mark Holdings HKD 0 0.0038,237 Shimao Property Holdings HKD 57,375 0.0180,109 Sino Land HKD 115,166 0.0334,415 Skyworth Digital Holdings HKD 18,747 0.00


158






Currency Market

Value

% of

Net

Assets

SHARES EUR %Hong Kong (continued)

8,010 Sun Art Retail Group HKD 5,596 0.0028,909 Swire Properties HKD 83,608 0.0266,355 WH Group HKD 58,726 0.0239,583 Wharf Holdings HKD 287,633 0.0827,397 Wheelock & Co HKD 181,237 0.05

5,846 Yue Yuen Industrial Holdings HKD 21,275 0.01166,159 Yuexiu Property HKD 24,820 0.01

2,560,323 0.69Hungary

388 MOL Hungarian Oil & Gas HUF 26,643 0.01

26,643 0.01India

2,657 Adani Enterprises INR 4,779 0.008,300 Balrampur Chini Mills INR 17,000 0.004,474 Chennai Petroleum INR 21,479 0.014,291 Emami INR 62,608 0.026,628 HDFC Bank INR 148,531 0.04

18,627 Hindalco Industries INR 48,245 0.018,170 Hindustan Petroleum INR 56,561 0.024,444 ICICI Bank INR 17,492 0.00

11,401 Indian Oil INR 59,571 0.0217,071 ITC INR 74,944 0.02

5,874 Lupin INR 84,450 0.0227,146 Oil & Natural Gas INR 57,920 0.02

4,403 Petronet LNG INR 25,801 0.0139,505 Power Finance INR 65,750 0.02


0 Reliance Infrastructure INR 0 0.0033,960 Rural Electrification INR 79,208 0.0210,286 State Bank of India INR 38,183 0.01

2,740 Sun Pharmaceutical Industries INR 20,654 0.013,131 Tata Motors INR 18,368 0.01

12,107 Tata Motors – A – INR 43,241 0.011,601 Tata Steel INR 11,853 0.00


1,139,950 0.31Indonesia

1,448,151 Ace Hardware Indonesia IDR 100,985 0.03289,386 Adaro Energy IDR 30,080 0.01268,763 Astra International IDR 157,803 0.04237,346 Bank Rakyat Indonesia Persero IDR 238,116 0.07145,472 Delta Dunia Makmur IDR 8,135 0.00

44,717 Gajah Tunggal IDR 3,324 0.003,145 Gudang Garam IDR 16,201 0.01

14,146 Indo Tambangraya Megah IDR 16,100 0.00133,475 Indofood CBP Sukses Makmur IDR 77,272 0.02600,916 Mayora Indah IDR 87,366 0.02

5,708 United Tractors IDR 10,307 0.00185,678 XL Axiata IDR 41,653 0.01

787,342 0.21Ireland

8,945 Allied Irish Banks EUR 44,279 0.0136,516 Grafton Group GBP 293,193 0.08

4,039 Medtronic USD 314,244 0.09809 Paddy Power Betfair EUR 75,648 0.02

12,474 Ryanair Holdings EUR 224,025 0.06

951,389 0.26Italy

14,895 Azimut Holding EUR 261,398 0.073,330 Danieli & C Officine Meccaniche EUR 71,099 0.02

13,350 Danieli & C Officine Meccaniche – RSP – EUR 209,331 0.0611 DiaSorin EUR 711 0.00

100,208 Enel EUR 470,376 0.1335,156 Eni EUR 462,646 0.12

132 OVS EUR 824 0.0015,828 UniCredit EUR 258,794 0.07

1,735,179 0.47Japan


2,516 Aeon Mall JPY 43,430 0.0132 AEON REIT Investment JPY 30,870 0.01

1,624 Ariake Japan JPY 99,214 0.03






Currency Market

Value

% of

Net

Assets


8,479 CYBERDYNE JPY 98,912 0.037,070 Daiken Medical JPY 44,298 0.01

15,913 Daiwa House Industry JPY 476,579 0.1337 Daiwa House REIT Investment JPY 76,736 0.0210 Daiwa Office Investment JPY 43,249 0.01

252 FANUC JPY 42,633 0.0112 Frontier Real Estate Investment JPY 43,514 0.0166 GLP J-REIT JPY 62,475 0.02

2,204 Gunosy JPY 40,013 0.011,737 HEALIOS JPY 20,854 0.01

14,241 Hulic JPY 127,462 0.0324 Hulic REIT JPY 32,397 0.01

8 Industrial & Infrastructure FundInvestment JPY 33,377 0.01

91 Invincible Investment JPY 34,270 0.0128 Japan Excellent JPY 27,780 0.0190 Japan Hotel REIT Investment JPY 56,156 0.0124 Japan Logistics Fund JPY 43,737 0.0122 Japan Prime Realty Investment JPY 68,212 0.0233 Japan Real Estate Investment JPY 145,076 0.0445 Japan Rental Housing Investments JPY 28,995 0.0165 Japan Retail Fund Investment JPY 105,643 0.03

3,588 Kakaku.com JPY 45,167 0.0111 Kenedix Office Investment JPY 50,373 0.0111 Kenedix Retail REIT JPY 21,322 0.01

1,213 Komatsu JPY 27,022 0.0129 LaSalle Logiport REIT JPY 25,467 0.01

6,289 M3 JPY 151,876 0.0432,973 Mitsubishi Estate JPY 538,647 0.1525,088 Mitsubishi UFJ Financial Group – ADR – USD 148,479 0.0423,211 Mitsui Fudosan JPY 485,492 0.13

38 Mori Hills REIT Investment JPY 41,044 0.0122 Mori Trust Sogo REIT JPY 31,294 0.01

735 Nidec JPY 66,052 0.0212 Nippon Accommodations Fund JPY 43,911 0.0134 Nippon Building Fund JPY 152,077 0.0440 Nippon Prologis REIT JPY 73,911 0.02

1,020 Nitori Holdings JPY 119,698 0.031,329 Nitto Denko JPY 95,793 0.03

97 Nomura Real Estate Master Fund JPY 115,853 0.033,106 NTT Urban Development JPY 26,274 0.019,590 ORIX JPY 130,208 0.04

64 Orix JREIT JPY 82,817 0.025,298 PeptiDream JPY 146,975 0.044,061 Pigeon JPY 128,970 0.03

28 Premier Investment JPY 23,788 0.01644 Rinnai JPY 52,628 0.01663 Seven & i Holdings JPY 23,941 0.01

1,777 SoftBank Group JPY 126,128 0.03862 Sosei Group JPY 83,029 0.02

6,160 Start Today JPY 132,903 0.0411,380 Sumitomo Realty & Development JPY 307,704 0.08

921 Sysmex JPY 48,203 0.013,164 TechnoPro Holdings JPY 111,612 0.035,206 Tokyo Tatemono JPY 59,795 0.02


5,773,473 1.57Jordan



14,223 ArcelorMittal EUR 282,465 0.082,750 Grand City Properties EUR 48,258 0.01

330,723 0.09Malaysia111,147 AirAsia MYR 73,781 0.02

76,112 CIMB Group Holdings MYR 102,291 0.0311,791 Malayan Banking MYR 23,192 0.0135,462 Malaysia Building Society MYR 9,633 0.00

208,897 0.06Malta

1,797 Brait ZAR 7,278 0.00

7,278 0.00Mexico

9,973 America Movil – ADR – USD 139,199 0.043,873 Cemex – ADR – USD 31,986 0.01


159






Currency Market

Value

% of

Net

Assets

SHARES EUR %Mexico (continued)

72,418 Fibra Uno Administracion MXN 120,746 0.036,974 Macquarie Mexico Real Estate

Management MXN 7,253 0.0019,083 OHL Mexico MXN 24,220 0.01


2,189 ASML Holding EUR 249,788 0.075,800 Euronext EUR 263,592 0.07

41 Heineken EUR 3,514 0.0041,223 ING Groep EUR 622,466 0.17

5,633 Koninklijke Ahold Delhaize EUR 94,290 0.03109,807 Koninklijke KPN EUR 307,570 0.08

9,681 Koninklijke Philips (traded in Netherlands) EUR 301,032 0.086,413 Koninklijke Philips (traded in

United States) USD 201,399 0.063,061 Philips Lighting EUR 98,949 0.039,578 Randstad Holding EUR 489,614 0.13

15,683 Royal Dutch Shell – A – EUR 364,390 0.10898 Wereldhave EUR 38,566 0.01

9,314 Wolters Kluwer EUR 345,235 0.09


8,830 Fletcher Building AUD 45,191 0.01

45,191 0.01Norway

16,699 DNB NOK 248,194 0.078,954 Statoil NOK 129,707 0.03

377,901 0.10Philippines337,124 Emperador PHP 44,167 0.01

13,476 Jollibee Foods PHP 47,766 0.01250,500 SM Prime Holdings PHP 143,635 0.04542,399 Vista Land & Lifescapes PHP 54,756 0.02

290,324 0.08Poland

164 KGHM Polska Miedz PLN 4,297 0.0034,735 Tauron Polska Energia PLN 29,401 0.01

33,698 0.01Romania

5,658 New Europe Property Investments ZAR 62,640 0.02

62,640 0.02Russia



Kingdom) USD 75,316 0.025,449 Lukoil – ADR – (traded in United States) USD 233,091 0.061,201 Novolipetsk Steel – GDR – USD 20,392 0.01

712 Ros Agro – GDR – USD 7,272 0.00836 Severstal – GDR – USD 9,614 0.00

1,658 Tatneft – ADR – USD 54,815 0.01

555,629 0.15Singapore

61,949 Ascendas Real Estate Investment Trust SGD 102,960 0.0366,292 CapitaLand SGD 147,751 0.0455,360 CapitaLand Commercial Trust SGD 58,520 0.0269,647 CapitaLand Mall Trust SGD 87,593 0.0212,448 City Developments SGD 85,051 0.02

5,065 DBS Group Holdings SGD 66,896 0.0269,358 Global Logistic Properties SGD 126,317 0.0334,375 Mapletree Commercial Trust SGD 34,914 0.0160,485 Suntec Real Estate Investment Trust SGD 72,026 0.02


7,270 Barloworld ZAR 52,932 0.02672 Bid ZAR 13,447 0.00

10,831 Exxaro Resources ZAR 67,401 0.0276,169 Growthpoint Properties ZAR 124,774 0.03

5,950 Hyprop Investments ZAR 46,486 0.015,923 Investec ZAR 38,251 0.01

131,840 Redefine Properties ZAR 92,810 0.036,682 Resilient REIT ZAR 54,434 0.02

11,886 Sappi ZAR 69,267 0.02






Currency Market

Value

% of

Net

Assets

SHARES EUR %South Africa (continued)

9,107 Standard Bank Group ZAR 87,778 0.02481 Tiger Brands ZAR 11,833 0.00

659,413 0.18South Korea

77 BGF retail KRW 6,000 0.001,815 DMS KRW 13,144 0.003,040 Dongbu HiTek KRW 52,414 0.02

777 Dongbu Insurance KRW 40,507 0.01331 Dongkuk Steel Mill KRW 3,721 0.00622 E-MART KRW 111,849 0.03

7,746 Hana Financial Group KRW 268,595 0.071,417 Hankook Tire KRW 69,045 0.02


Korea) KRW 4,387 0.001,414 JB Financial Group KRW 6,891 0.006,631 KB Financial Group KRW 293,175 0.08

158 Korea Gas KRW 6,429 0.00182 Korea Petrochemical Ind KRW 35,346 0.01703 KT KRW 17,551 0.01

1,979 KT – ADR – USD 28,880 0.01166 KT&G KRW 14,848 0.01843 Kumho Petrochemical KRW 47,509 0.01

2,302 LG Electronics KRW 141,476 0.04358 LG Innotek KRW 45,242 0.01329 LG Uplus KRW 3,932 0.00

38 Lotte Chemical KRW 10,072 0.0098 Lotte Shopping KRW 22,712 0.01

815 POSCO KRW 179,303 0.05427 Samsung Electronics KRW 777,720 0.21139 Samsung Electronics – Pref – KRW 198,226 0.06639 SD Biotechnologies KRW 6,292 0.00191 Shinhan Financial Group KRW 7,211 0.00

44 SK Holdings KRW 9,409 0.005,865 SK Hynix KRW 302,905 0.08

407 SK Innovation KRW 49,474 0.01217 S-Oil KRW 15,778 0.01

7,929 Woori Bank KRW 112,103 0.03

2,908,004 0.79Spain

10,102 ACS Actividades de Construccion yServicios EUR 341,715 0.09

1,328 Aena EUR 226,915 0.0612,456 Amadeus IT Group EUR 652,048 0.1830,662 Banco Bilbao Vizcaya Argentaria – ADR – USD 224,746 0.0668,310 Banco Santander EUR 395,653 0.1150,151 Bankia EUR 212,240 0.06

8,222 Cia de Distribucion Integral LogistaHoldings EUR 189,283 0.05

13,973 Gamesa Technologica EUR 261,227 0.074,276 Gas Natural SDG EUR 87,620 0.03

12,103 Indra Sistemas EUR 152,918 0.047,321 Industria de Diseno Textil EUR 246,047 0.076,091 Inmobiliaria Colonial EUR 46,459 0.017,764 Merlin Properties Socimi EUR 85,868 0.02

17 Viscofan EUR 881 0.00

3,123,620 0.85Sri Lanka186,210 Lanka Orix Leasing LKR 119,935 0.03123,661 Sampath Bank LKR 202,229 0.06

322,164 0.09Sweden

147 Assa Abloy – B – SEK 2,839 0.0075 Atlas Copco – A – SEK 2,504 0.00

6,133 Castellum SEK 78,862 0.02200 Cloetta – B – SEK 722 0.00

3,351 Fabege SEK 56,426 0.012,160 Fastighets Balder – B – SEK 45,810 0.012,549 Hufvudstaden – A – SEK 37,013 0.01

11,945 Intrum Justitia SEK 355,129 0.104,789 Lundin Petroleum SEK 80,693 0.02

22,911 Sandvik SEK 315,561 0.097,493 Swedbank – A – SEK 159,909 0.04

15,044 Telefonaktiebolaget LM Ericsson – B – SEK 94,218 0.0392 Trelleborg – B – SEK 1,838 0.00

1,231,524 0.33


160






Currency Market

Value

% of

Net

Assets

SHARES EUR %Switzerland

0 Belimo Holding CHF 541 0.001,562 Chubb USD 199,116 0.05

23 Cie Financiere Richemont CHF 1,661 0.0027,801 Credit Suisse Group CHF 352,775 0.10

3 Daetwyler Holding CHF 373 0.001,086 Dufry CHF 156,140 0.04

5 Geberit CHF 2,029 0.001 Inficon Holding CHF 468 0.00


0 LEM Holding CHF 362 0.0012,527 Logitech International CHF 404,271 0.11

2,957 Novartis – ADR – USD 216,432 0.06864 Partners Group Holding CHF 470,139 0.13902 PSP Swiss Property CHF 73,983 0.02

4,898 Roche Holding CHF 1,095,034 0.304 Schindler Holding CHF 802 0.00

1,729 Swiss Prime Site CHF 137,886 0.045 Tecan Group CHF 902 0.006 Temenos Group CHF 494 0.00

24,530 UBS Group CHF 364,721 0.103,673 Wolseley GBP 197,128 0.05

3,680,009 1.00Taiwan

30,206 Advanced Semiconductor Engineering TWD 33,997 0.01210,328 AU Optronics TWD 84,263 0.02

474 Catcher Technology TWD 4,972 0.0074,197 Cathay Financial Holding TWD 107,139 0.03


61,574 Compeq Manufacturing TWD 44,013 0.01125,806 CTBC Financial Holding TWD 72,339 0.02

23,157 E Ink Holdings TWD 18,888 0.0110,781 Formosa Chemicals & Fibre TWD 29,675 0.01

2,316 Formosa Plastics TWD 6,187 0.00101,297 Fubon Financial Holding TWD 141,455 0.04

12,945 General Interface Solution Holding TWD 83,948 0.0250,508 Grand Pacific Petrochemical TWD 30,862 0.0117,406 Hannstar Board TWD 8,202 0.0064,783 Hon Hai Precision Industry TWD 218,462 0.06

203,286 Innolux TWD 93,160 0.03729 Largan Precision TWD 101,929 0.03

33,689 Lite-On Technology TWD 48,550 0.0113,230 Macronix International TWD 6,368 0.00

3,776 Merry Electronics TWD 20,570 0.0143,694 Nanya Technology TWD 69,013 0.0232,267 Pegatron TWD 88,630 0.02

2,961 Phison Electronics TWD 32,046 0.0123,385 Powertech Technology TWD 63,288 0.0215,547 Quanta Computer TWD 32,263 0.01

2,164 Radiant Opto-Electronics TWD 4,222 0.0016,094 Realtek Semiconductor TWD 50,793 0.01

267,992 Shin Kong Financial Holding TWD 62,565 0.022,469 St Shine Optical TWD 45,264 0.01

12,344 Taiwan Semiconductor Manufacturing TWD 74,179 0.026,546 Taiwan Semiconductor Manufacturing –

ADR – USD 200,664 0.0618,056 Tripod Technology TWD 50,428 0.01

123,414 Winbond Electronics TWD 64,916 0.0284,253 Wistron TWD 75,157 0.02


2,122,003 0.58Thailand

649 Bangkok Bank THB 3,301 0.0094,918 Charoen Pokphand Foods – NVDR – THB 60,756 0.02

125,286 Esso Thailand – NVDR – THB 32,660 0.017,148 Kiatnakin Bank – NVDR – THB 13,192 0.00

16,343 Krung Thai Bank – NVDR – THB 7,930 0.0072,460 Major Cineplex Group THB 63,119 0.0219,118 PTT – NVDR – THB 182,568 0.0515,832 PTT Exploration & Production – NVDR – THB 35,244 0.0162,652 PTT Global Chemical – NVDR – THB 110,769 0.0371,520 Sansiri – NVDR – THB 4,172 0.0035,327 Star Petroleum Refining – NVDR – THB 13,312 0.0014,272 Supalai – NVDR – THB 9,577 0.00






Currency Market

Value

% of

Net

Assets

SHARES EUR %Thailand (continued)

35,663 Thanachart Capital – NVDR – THB 42,342 0.0114,348 Tisco Financial Group – NVDR – THB 28,144 0.01

607,086 0.16Turkey

4,933 Haci Omer Sabanci Holding TRY 13,421 0.006,585 KOC Holding TRY 26,519 0.015,283 Soda Sanayii TRY 8,626 0.002,567 Tekfen Holding TRY 5,572 0.006,500 Trakya Cam Sanayii TRY 6,261 0.001,900 Tupras Turkiye Petrol Rafinerileri TRY 47,861 0.01

26,417 Turkiye Garanti Bankasi TRY 64,370 0.0227,580 Turkiye Halk Bankasi TRY 90,272 0.0341,441 Turkiye Is Bankasi – C – TRY 76,844 0.0229,963 Turkiye Vakiflar Bankasi – D – TRY 48,252 0.0148,172 Yapi ve Kredi Bankasi TRY 53,836 0.02

441,834 0.12United Arab Emirates

6,862 Abu Dhabi Commercial Bank AED 11,483 0.0064,792 Aldar Properties AED 35,573 0.0125,317 DAMAC Properties Dubai AED 19,097 0.0149,180 Dubai Investments AED 24,419 0.01

5,171 Emaar Properties AED 9,603 0.00


18,903 Amec Foster Wheeler GBP 100,580 0.031,957 ASOS GBP 128,154 0.03

18,803 Auto Trader Group GBP 81,373 0.0248,997 Aviva GBP 293,517 0.0889,903 Balfour Beatty GBP 277,063 0.08

107,763 Barclays GBP 248,833 0.07119 Berendsen GBP 1,665 0.00

53,070 BP GBP 267,629 0.0737 British American Tobacco GBP 2,197 0.00

26,669 British Land GBP 183,907 0.0512,405 Capital & Counties Properties GBP 41,353 0.01

148 Compass Group GBP 2,721 0.0057,511 ConvaTec Group GBP 209,070 0.06

2,857 Derwent London GBP 86,340 0.0233 Diploma GBP 417 0.00

172 Electrocomponents GBP 1,130 0.0054,705 GlaxoSmithKline GBP 1,018,956 0.28

7,983 Great Portland Estates GBP 54,278 0.0180 Halma GBP 1,004 0.00

17,925 Hammerson GBP 117,284 0.0348,348 HSBC Holdings GBP 391,884 0.1111,499 Imperial Brands GBP 451,632 0.1216,806 Intu Properties GBP 51,506 0.01

88 Jardine Lloyd Thompson Group GBP 1,208 0.007,298 Johnson Matthey GBP 238,618 0.061,913 Kennedy Wilson Europe Real Estate GBP 24,187 0.01

212,294 Ladbrokes Coral Group GBP 276,835 0.0818,792 Land Securities Group GBP 216,804 0.06

169,981 Legal & General Group GBP 500,038 0.1418,191 Merlin Entertainments GBP 99,545 0.0311,294 Micro Focus International GBP 292,110 0.08

1,543 Pentair USD 89,997 0.0220,148 Persimmon GBP 514,457 0.14

120 Prudential GBP 2,400 0.003,292 Reckitt Benckiser Group GBP 291,814 0.08

11,850 RELX EUR 213,304 0.06291 Rentokil Initial GBP 906 0.00

75,759 Royal Bank of Scotland Group GBP 213,286 0.0618,150 RSA Insurance Group GBP 127,227 0.0324,732 Sage Group GBP 193,784 0.05

4,700 Schroders GBP 166,163 0.0522,202 Segro GBP 123,694 0.03

4,328 Shaftesbury GBP 47,933 0.0193,961 SIG GBP 159,017 0.04

197 Smith & Nephew GBP 2,973 0.0017,119 Smiths Group GBP 311,366 0.08

41 Spectris GBP 1,175 0.0022 Spirax-Sarco Engineering GBP 1,351 0.00

132 SSP Group GBP 714 0.0031,925 Standard Chartered GBP 282,580 0.08

53 SuperGroup GBP 907 0.00221,547 Tesco GBP 425,909 0.12


161






Currency Market

Value

% of

Net

Assets


24,488 Travis Perkins GBP 405,785 0.1128,613 Tritax Big Box REIT GBP 47,642 0.01

134 UBM GBP 1,057 0.004,171 Unilever USD 202,099 0.068,557 Unilever – CVA – EUR 413,474 0.115,633 UNITE Group GBP 41,637 0.01

192,127 Vodafone Group GBP 476,459 0.1343 WH Smith GBP 840 0.00

2,405 Willis Towers Watson USD 306,685 0.0857,443 Worldpay Group GBP 205,943 0.0633,047 WPP GBP 607,447 0.17


3,542 AbbVie USD 225,197 0.064,269 Acadia Healthcare USD 184,814 0.052,128 Acadia Realty Trust USD 51,877 0.012,514 Adobe Systems USD 311,754 0.08

24,268 AES USD 236,395 0.06813 Agree Realty USD 32,709 0.01

2,253 Alexandria Real Estate Equities USD 237,922 0.0644 Alphabet – A – USD 36,180 0.0144 Alphabet – C – USD 35,463 0.01

125 Amazon.com USD 106,503 0.03873 American Assets Trust USD 30,144 0.01

3,373 American Campus Communities USD 139,867 0.04240 American Express USD 17,748 0.00

6,025 American Homes 4 Rent – A – USD 119,224 0.031,984 Ameriprise Financial USD 221,371 0.061,369 Amgen USD 206,679 0.06

94 Analog Devices USD 6,381 0.001,816 Ansys USD 193,786 0.05

518 Anthem USD 85,527 0.024,027 Apartment Investment & Management – A

– USD 151,729 0.045,540 Apple Hospitality REIT USD 90,874 0.024,120 Archer-Daniels-Midland USD 149,464 0.042,147 Ashford Hospitality Trust USD 11,443 0.002,598 AT&T USD 85,953 0.02

620 Autodesk USD 54,809 0.01142 Automatic Data Processing USD 12,764 0.00

3,481 AvalonBay Communities USD 586,514 0.163,524 Baker Hughes USD 168,431 0.05

13,039 Bank of America USD 277,344 0.085,316 Baxter International USD 282,150 0.081,642 BOK Financial USD 121,122 0.033,785 Boston Properties USD 408,293 0.114,346 Brandywine Realty Trust USD 66,797 0.027,179 Brixmor Property Group USD 112,549 0.035,678 Brookfield Property Partners CAD 117,616 0.032,228 Camden Property Trust USD 167,013 0.051,451 Cardinal Health USD 99,101 0.032,186 Care Capital Properties USD 51,179 0.011,753 CareTrust REIT USD 28,498 0.014,908 CBL & Associates Properties USD 36,277 0.011,101 Centene USD 77,132 0.02

456 Cerner USD 26,601 0.011,012 Chatham Lodging Trust USD 17,835 0.001,453 Chesapeake Lodging Trust USD 31,177 0.011,879 Chevron USD 171,907 0.05

377 Cigna USD 55,301 0.029,749 Cisco Systems USD 267,546 0.074,652 Citigroup USD 272,800 0.072,528 Coach USD 104,940 0.034,964 Coca-Cola USD 195,203 0.052,675 Colony Starwood Homes USD 80,455 0.023,276 Columbia Property Trust USD 64,292 0.027,220 Comcast – A – USD 246,370 0.07

139 Compass Minerals International USD 7,962 0.002,509 Conagra Brands USD 78,678 0.026,637 Corning USD 174,864 0.052,350 Corporate Office Properties Trust USD 72,176 0.02

11,260 Cousins Properties USD 86,775 0.024,295 CubeSmart USD 90,531 0.021,453 Cullen/Frost Bankers USD 119,648 0.03

13,236 Cypress Semiconductor USD 158,409 0.042,245 CyrusOne USD 109,739 0.036,311 Dana USD 123,550 0.03






Currency Market

Value

% of

Net

Assets


2,507 Danaher USD 185,470 0.052,475 DCT Industrial Trust USD 115,973 0.038,460 DDR USD 67,277 0.02

346 Deere & Co USD 37,470 0.013,974 Digital Realty Trust USD 393,528 0.113,573 Douglas Emmett USD 119,708 0.035,533 Dow Chemical USD 305,949 0.089,316 Duke Realty USD 228,300 0.062,055 DuPont Fabros Technology USD 110,217 0.03

622 Easterly Government Properties USD 11,428 0.00771 EastGroup Properties USD 56,620 0.02

2,006 Education Realty Trust USD 68,142 0.022,917 Empire State Realty Trust – A – USD 53,129 0.011,820 EPR Properties USD 114,655 0.032,921 EQT USD 150,042 0.043,129 Equity Commonwealth USD 86,679 0.022,012 Equity LifeStyle Properties USD 152,306 0.049,177 Equity Residential USD 529,671 0.141,679 Essex Property Trust USD 378,824 0.101,082 Expeditors International of Washington USD 53,600 0.014,581 Extended Stay America USD 77,757 0.023,118 Extra Space Storage USD 213,203 0.06

695 Facebook – A – USD 92,047 0.03176 FactSet Research Systems USD 25,594 0.01

1,812 Federal Realty Investment Trust USD 200,746 0.053,569 FelCor Lodging Trust USD 22,563 0.015,079 First Data – A – USD 81,041 0.023,153 First Industrial Realty Trust USD 79,120 0.021,729 First Republic Bank USD 151,766 0.045,215 Forest City Realty Trust – A – USD 110,525 0.032,644 Franklin Street Properties USD 25,689 0.017,955 Freeport-McMoRan USD 83,762 0.02

16,098 General Electric USD 381,220 0.1016,060 GGP USD 331,737 0.09

2,519 Gilead Sciences USD 156,315 0.041,525 Global Net Lease USD 29,729 0.011,790 Government Properties Income Trust USD 28,743 0.013,861 Gramercy Property Trust USD 100,570 0.034,134 Halliburton USD 154,812 0.044,087 Hartford Financial Services Group USD 188,361 0.05

12,126 HCP USD 339,778 0.092,723 Healthcare Realty Trust USD 81,528 0.024,707 Healthcare Trust of America – A – USD 128,394 0.03

697 Hersha Hospitality Trust USD 11,312 0.002,634 Highwoods Properties USD 117,128 0.032,577 Home Depot USD 346,572 0.093,695 Hudson Pacific Properties USD 110,751 0.031,106 Independence Realty Trust USD 9,568 0.002,650 Intel USD 78,400 0.023,066 Intercontinental Exchange USD 177,189 0.052,255 Invesco USD 69,561 0.022,169 Investors Real Estate Trust USD 11,810 0.003,371 Johnson Controls International USD 128,169 0.031,180 Jones Lang LaSalle USD 129,321 0.045,358 JPMorgan Chase & Co USD 429,364 0.122,441 Kilroy Realty USD 160,865 0.04

10,718 Kimco Realty USD 172,436 0.052,011 Kite Realty Group Trust USD 33,370 0.018,283 Kroger USD 169,354 0.051,973 La Quinta Holdings USD 25,548 0.018,492 Lennar – A – USD 397,001 0.115,402 Lexington Realty Trust USD 46,934 0.013,856 Liberty Property Trust USD 137,648 0.041,256 Life Storage USD 81,576 0.021,059 LTC Properties USD 47,711 0.011,256 M&T Bank USD 178,377 0.052,883 Macerich USD 146,783 0.042,052 Mack-Cali Realty USD 48,819 0.011,263 Martin Marietta Materials USD 246,575 0.078,307 Medical Properties Trust USD 93,739 0.034,178 Merck & Co USD 234,773 0.061,241 MGM Growth Properties – A – USD 31,752 0.013,538 Microchip Technology USD 239,440 0.072,782 Micron Technology USD 72,823 0.028,211 Microsoft USD 496,219 0.132,835 Mid-America Apartment Communities USD 261,952 0.074,694 Mondelez International – A – USD 177,737 0.053,911 Monogram Residential Trust REIT USD 33,300 0.01


162






Currency Market

Value

% of

Net

Assets


1,638 Monster Beverage USD 71,328 0.02302 MSCI USD 27,285 0.01

11,082 Mylan USD 377,185 0.107,829 Nabors Industries USD 55,878 0.023,691 National Fuel Gas USD 180,706 0.051,042 National Health Investors USD 72,358 0.023,892 National Retail Properties USD 133,418 0.041,076 National Storage Affiliates Trust USD 21,798 0.014,077 New York REIT USD 30,888 0.012,286 Newfield Exploration USD 57,042 0.021,631 NorthStar Realty Europe USD 18,134 0.015,122 Omega Healthcare Investors USD 148,275 0.045,157 ON Semiconductor USD 63,480 0.021,413 Oracle USD 62,133 0.023,720 Oshkosh USD 224,660 0.065,219 Paramount Group USD 73,210 0.02

846 Parkway USD 16,976 0.003,669 PayPal Holdings USD 172,658 0.051,704 Pennsylvania Real Estate Investment Trust USD 16,909 0.001,479 PepsiCo USD 149,751 0.042,914 Phillips 66 USD 211,232 0.063,710 Physicians Realty Trust USD 65,518 0.023,968 Piedmont Office Realty Trust – A – USD 73,329 0.021,229 Pioneer Natural Resources USD 171,904 0.051,899 PPG Industries USD 183,036 0.051,188 Procter & Gamble USD 90,777 0.02

13,335 Prologis USD 685,611 0.19462 PS Business Parks USD 53,598 0.01

3,827 Public Storage USD 699,760 0.191,241 QTS Realty Trust – A – USD 56,962 0.02

827 QUALCOMM USD 40,052 0.012,568 Quality Care Properties USD 41,219 0.012,163 Ramco-Gershenson Properties Trust USD 24,463 0.016,802 Realty Income USD 329,079 0.093,896 Regency Centers USD 213,999 0.06

102 Regeneron Pharmaceuticals USD 43,966 0.012,790 Retail Opportunity Investments USD 46,943 0.016,518 Retail Properties of America – A – USD 69,773 0.021,733 Rexford Industrial Realty USD 41,691 0.013,267 RLJ Lodging Trust USD 56,913 0.021,744 Sabra Health Care REIT USD 36,854 0.01

423 Schlumberger USD 24,411 0.013,279 Seagate Technology USD 111,392 0.031,593 Sealed Air USD 62,515 0.02

962 SEI Investments USD 45,381 0.011,508 Select Income REIT USD 31,764 0.015,696 Senior Housing Properties Trust USD 102,078 0.03

663 Seritage Growth Properties – A – USD 24,385 0.017,768 Simon Property Group USD 1,101,693 0.302,558 SL Green Realty USD 237,296 0.06

12,673 Spirit Realty Capital USD 82,337 0.022,108 STAG Industrial USD 51,014 0.011,696 State Street USD 133,430 0.044,208 Store Capital USD 82,825 0.022,994 Summit Hotel Properties USD 48,951 0.011,878 Sun Communities USD 144,406 0.043,959 Synchrony Financial USD 103,514 0.032,583 Tanger Factory Outlet Centers USD 58,830 0.021,249 Taubman Centers USD 65,190 0.023,988 Terex USD 131,131 0.041,189 Terreno Realty USD 35,076 0.011,706 Tier REIT USD 27,637 0.011,375 Time Warner USD 121,081 0.036,603 UDR USD 225,608 0.06

189 United Parcel Service – B – USD 18,288 0.012,782 Urban Edge Properties USD 57,889 0.02

22 Varex Imaging USD 651 0.00483 Varian Medical Systems USD 43,697 0.01

9,039 Ventas USD 550,657 0.1524,275 VEREIT USD 173,252 0.05

688 Visa – A – USD 56,606 0.024,363 Vornado Realty Trust USD 359,162 0.103,349 Walgreens Boots Alliance USD 229,975 0.064,272 Washington Prime Group USD 31,353 0.011,826 Washington Real Estate Investment Trust USD 51,075 0.012,839 Weingarten Realty Investors USD 74,920 0.029,338 Welltower USD 612,822 0.172,161 Western Digital USD 167,865 0.05






Currency Market

Value

% of

Net

Assets


842 WestRock USD 41,815 0.012,572 WP Carey USD 148,859 0.041,437 Yum China Holdings USD 49,691 0.01

339 Yum! Brands USD 21,899 0.013,507 Zions Bancorporation USD 135,012 0.04

30,739,401 8.34Vietnam

5,529 Taisun International Holding TWD 21,912 0.0126,814 Vietnam Dairy Products VND 162,998 0.0469,685 Vinh Hoan VND 158,585 0.04

343,495 0.09


47,200 Aviva Monetaire – I – EUR 48,806,216 13.252,740 Natixis Asset Management Natixis

Tresorerie – IC – EUR 34,397,741 9.34695 Natixis Asset Management Natixis

Tresorerie Plus – IC – EUR 72,237,049 19.61



163





Currency Market

Value

% of

Net

Assets


868 Jacana Minerals AUD 0 0.00


INVESTMENTS 362,802,472 98.49



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(36) 10-Years US Note Future 09/17 USD (3,916,446) 21,022 0.01(26) 2-Years US Note Future 09/17 USD (4,926,434) 5,096 0.00(61) 5-Years US Note Future 09/17 USD (6,322,188) 19,708 0.00(59) Bundesrepublik Deutschland Future BOBL 09/17 EUR (7,807,129) 89,642 0.02(32) Bundesrepublik Deutschland Future BUND 09/17 EUR (5,239,107) 95,976 0.03


(4) EUR/USD Currency Future 09/17 USD (517,327) (9,156) (0.00)0 EURO STOXX 50 Index Future 09/17 EUR 17,861 (497) (0.00)

(9) Euro-OAT Future 09/17 EUR (1,405,502) 12,902 0.000 FTSE 100 Index Future 09/17 GBP 19,084 (448) (0.00)

(1) GBP/USD Currency Future 09/17 USD (65,954) (1,481) (0.00)(6) Long Gilt Future 09/17 GBP (911,085) 13,350 0.0012 Mini MSCI Emerging Markets Future 09/17 USD 536,883 (3,506) (0.00)

1 S&P 500 E-mini Index Future 09/17 USD 159,605 (516) (0.00)(21) Short Euro-BTP Future 09/17 EUR (2,376,802) (6,034) (0.00)

1 Topix Index Future 09/17 JPY 72,735 269 0.00(3) US Long Bond Future 09/17 USD (368,477) 1,204 0.00



Purchased Sold


in Fund% ofNet


4,098,819 EUR 3,599,501 GBP 26/07/2017 1,288 0.0094,996 EUR 83,645 GBP 26/07/2017 (221) (0.00)

1,487 EUR 1,310 GBP 26/07/2017 (4) (0.00)1,638,784 EUR 1,830,468 USD 26/07/2017 35,612 0.01

25,894 EUR 29,178 USD 26/07/2017 338 0.0019 EUR 21 USD 26/07/2017 0 0.00

19,450 EUR 22,223 USD 26/07/2017 (14) (0.00)41,321 GBP 46,898 EUR 26/07/2017 140 0.00

104,396 GBP 118,873 EUR 26/07/2017 (32) 0.0052,565 USD 47,060 EUR 26/07/2017 (1,023) (0.00)57,256 USD 50,111 EUR 26/07/2017 35 0.00







164





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets





28,434 APT Pipelines USD 4.200% 23/03/25 25,777 0.0034,025 AusNet Services Holdings EUR 2.375% 24/07/20 36,343 0.0016,365 BHP Billiton Finance EUR 0.750% 28/10/22 16,463 0.00

332,144 BHP Billiton Finance EUR 5.625% 22/10/79 388,209 0.0343,326 Commonwealth Bank of

Australia EUR 1.625% 04/02/19 44,463 0.0136,380 Commonwealth Bank of

Australia EUR 0.500% 11/07/22 36,289 0.0039,206 National Australia Bank EUR 0.625% 10/11/23 38,932 0.0118,838 Origin Energy Finance EUR 2.500% 23/10/20 20,046 0.0036,027 Scentre Group Trust 1 via

Scentre Group Trust 2 EUR 1.375% 22/03/23 36,900 0.00

643,422 0.05Austria1,226,339 Austria Government Bond EUR 4.350% 15/03/19 1,328,069 0.11

412,042 Austria Government Bond EUR 1.950% 18/06/19 431,690 0.04303,366 Austria Government Bond







4,824,772 0.40Belgium




(traded in Belgium) EUR 2.600% 22/06/24 730,458 0.061,050,432 Belgium Government Bond

(traded in Germany) EUR 2.600% 22/06/24 1,218,907 0.101,404,804 Belgium Government Bond EUR 0.500% 22/10/24 1,417,441 0.12

1,359 Belgium Government Bond EUR 0.800% 22/06/25 1,393 0.00647,949 Belgium Government Bond EUR 1.000% 22/06/26 668,914 0.0680,724 Belgium Government Bond EUR 0.800% 22/06/27 80,724 0.01

860,128 Belgium Government Bond EUR 2.250% 22/06/57 915,887 0.0837,675 Groupe Bruxelles Lambert EUR 1.375% 23/05/24 37,643 0.0021,192 Proximus EUR 0.500% 22/03/22 21,238 0.00

106,628 RESA EUR 1.000% 22/07/26 103,824 0.019,678 UCB EUR 4.125% 04/01/21 10,762 0.00

8,710,483 0.73Bermuda

41,207 Bacardi EUR 2.750% 03/07/23 45,537 0.00248,621 Digicel USD 6.000% 15/04/21 209,809 0.02273,483 Kosmos Energy USD 7.875% 01/08/21 245,776 0.02275,969 Kosmos Energy (traded in


749,132 0.06





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Canada


392,821 Concordia International USD 7.000% 15/04/23 51,662 0.00248,621 First Quantum Minerals USD 7.250% 01/04/23 213,624 0.02248,621 First Quantum Minerals USD 7.500% 01/04/25 213,624 0.0242,055 Great-West Lifeco EUR 2.500% 18/04/23 45,932 0.00

1,118,794 Jupiter Resources USD 8.500% 01/10/22 740,598 0.06372,931 Kinross Gold USD 4.500% 15/07/27 326,975 0.03248,621 Kinross Gold USD 6.875% 01/09/41 233,787 0.0276,326 New Gold USD 6.375% 15/05/25 69,096 0.01









2,133,242 0.18Cyprus



13,775 CEZ EUR 5.000% 19/10/21 16,419 0.00

16,419 0.00Denmark

20,015 Carlsberg Breweries EUR 3.375% 13/10/17 20,216 0.0047,306 Carlsberg Breweries EUR 2.500% 28/05/24 51,566 0.0120,721 Danske Bank EUR 1.250% 11/06/21 21,723 0.00

210,767 Danske Bank GBP 5.375% 29/09/21 252,781 0.0238,852 Danske Bank EUR 0.750% 02/06/23 39,024 0.00

1,034,997 DONG Energy EUR 3.000% 31/12/49 1,082,422 0.09106,094 DONG Energy EUR 6.250% 31/12/49 126,510 0.0120,486 Vestas Wind Systems EUR 2.750% 11/03/22 22,107 0.00

482,573 Welltec USD 8.000% 01/02/19 411,470 0.04

2,027,819 0.17Finland

9,395 Citycon EUR 3.750% 24/06/20 10,304 0.00124,128 Finland Government Bond


(traded in Germany) EUR 4.375% 04/07/19 84,928 0.0188,074 Finland Government Bond


(traded in Germany) EUR 3.375% 15/04/20 25,652 0.00379,078 Finland Government Bond EUR 0.000% 15/09/23 376,333 0.03

515 Finland Government Bond EUR 0.500% 15/04/26 515 0.005,923 Finland Government Bond EUR 2.750% 04/07/28 7,190 0.00

495,107 Kojamo EUR 1.500% 19/06/24 491,986 0.0472,151 Nokia USD 3.375% 12/06/22 63,899 0.01

266,569 Nokia EUR 2.000% 15/03/24 271,453 0.020 Sampo EUR 1.000% 18/09/23 0 0.00


1,593,649 0.13France


37,675 Aeroports de Paris EUR 1.500% 07/04/25 39,377 0.0032,966 Air Liquide Finance EUR 1.250% 03/06/25 33,931 0.0023,547 ALD EUR 0.750% 26/01/18 23,660 0.00


165





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


14,128 APRR EUR 1.125% 15/01/21 14,506 0.000 APRR EUR 1.875% 15/01/25 0 0.00

106,628 Atos EUR 2.375% 02/07/20 111,935 0.010 Autoroutes du Sud de la

France EUR 7.375% 20/03/19 1 0.0071,085 Autoroutes du Sud de la

France EUR 1.250% 18/01/27 71,236 0.010 AXA EUR 3.375% 06/07/47 0 0.00

25,077 AXA EUR 3.941% 29/11/49 27,305 0.00390,079 AXA GBP 5.453% 29/11/49 489,480 0.0437,675 Banque Federative du

Credit Mutuel EUR 0.250% 14/06/19 37,882 0.0014,128 Banque Federative du


Credit Mutuel EUR 2.625% 18/03/24 28,980 0.006,829 BNP Paribas EUR 1.375% 21/11/18 6,974 0.00

55,806 BNP Paribas EUR 2.875% 24/10/22 62,576 0.0171,112 BNP Paribas EUR 0.750% 11/11/22 71,855 0.0129,669 BNP Paribas EUR 1.125% 15/01/23 30,505 0.0016,718 BNP Paribas EUR 1.500% 17/11/25 16,780 0.0036,969 BNP Paribas EUR 2.625% 14/10/27 39,084 0.007,064 BNP Paribas Cardif EUR 4.032% 29/11/49 7,557 0.00

49,449 BPCE EUR 0.375% 05/10/23 48,338 0.01533,137 BPCE USD 5.700% 22/10/23 521,068 0.04148,034 BPCE USD 4.500% 15/03/25 133,631 0.0151,803 BPCE EUR 2.875% 22/04/26 54,968 0.01

0 Bureau Veritas EUR 3.750% 24/05/17 0 0.00284,340 Bureau Veritas EUR 3.125% 21/01/21 307,525 0.0318,838 Bureau Veritas EUR 1.250% 07/09/23 18,845 0.00

1,313,383 Caisse Centrale du CreditImmobilier de France EUR 0.250% 25/11/18 1,323,743 0.11

437,794 Caisse Centrale du CreditImmobilier de France(traded in France) EUR 0.375% 31/07/20 443,793 0.04

103,010 Caisse Centrale du CreditImmobilier de France(traded in Luxembourg) EUR 0.375% 31/07/20 104,422 0.01

888,562 Capgemini EUR 2.500% 01/07/23 964,229 0.08550,909 Carmila EUR 2.375% 18/09/23 585,587 0.05444,281 Carmila EUR 2.375% 16/09/24 468,279 0.0440,030 Christian Dior EUR 1.375% 19/06/19 40,876 0.0013,186 Cie de Saint-Gobain EUR 4.500% 30/09/19 14,489 0.0044,739 Cie Financiere et

Industrielle des Autoroutes EUR 0.375% 07/02/25 42,746 0.0037,675 Coentreprise de Transport

d’Electricite EUR 0.875% 29/09/24 37,344 0.00872,924 Coentreprise de Transport

d’Electricite EUR 2.125% 29/07/32 877,453 0.0714,128 Credit Agricole EUR 3.875% 13/02/19 15,029 0.007,064 Credit Agricole EUR 0.875% 19/01/22 7,211 0.00

37,675 Credit Agricole EUR 0.750% 01/12/22 38,059 0.0016,483 Credit Agricole EUR 1.875% 20/12/26 16,835 0.0028,256 Credit Agricole EUR 1.375% 03/05/27 28,385 0.00

231,026 Credit Agricole Assurances EUR 4.750% 27/09/48 257,620 0.0216,483 Credit Agricole Assurances EUR 4.250% 29/01/49 17,639 0.0014,128 Credit Agricole Assurances EUR 4.500% 31/10/49 15,285 0.0018,838 Danone EUR 0.424% 03/11/22 18,696 0.00

618,062 Dexia Credit Local EUR 0.750% 25/01/23 629,448 0.0518,838 Electricite de France EUR 2.750% 10/03/23 20,947 0.00

399,853 Electricite de France EUR 4.625% 26/04/30 520,680 0.0443,895 Electricite de France GBP 5.875% 18/07/31 66,776 0.01

1,023,446 Electricite de France EUR 1.875% 13/10/36 929,357 0.08195,484 Electricite de France EUR 5.000% 22/01/49 209,644 0.02390,967 Electricite de France EUR 4.125% 29/01/49 413,205 0.0423,547 Electricite de France EUR 5.375% 29/01/49 26,038 0.00

355,425 Electricite de France GBP 5.875% 22/07/49 413,796 0.0471,085 Electricite de France EUR 4.250% 29/12/49 75,554 0.018,948 Engie EUR 1.500% 20/07/17 8,955 0.00

622,838 Engie EUR 0.875% 27/03/24 626,146 0.051,612,679 France Government Bond

OAT EUR 1.000% 25/05/18 1,635,485 0.14





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France (continued)2,138,638 France Government Bond






OAT (traded in Germany) EUR 0.500% 25/11/19 364,424 0.032,558,652 France Government Bond



OAT EUR 0.100% 01/03/21 902,967 0.081,519,611 France Government Bond


OAT (traded in France) EUR 0.000% 25/05/21 935,363 0.082,061,861 France Government Bond

OAT (traded in Germany) EUR 0.000% 25/05/21 2,080,253 0.17754,999 France Government Bond

OAT EUR 3.250% 25/10/21 867,003 0.072,376,608 France Government Bond

OAT (traded in France) EUR 3.000% 25/04/22 2,730,570 0.23437,794 France Government Bond

OAT (traded in Germany) EUR 3.000% 25/04/22 502,998 0.042,228,373 France Government Bond

OAT EUR 0.000% 25/05/22 2,232,981 0.192,119,438 France Government Bond



OAT EUR 2.250% 25/05/24 789,718 0.07258 France Government Bond

OAT EUR 1.750% 25/11/24 284 0.005,648,844 France Government Bond



OAT EUR 2.000% 25/05/48 935,205 0.08906,333 Fromageries Bel EUR 1.500% 18/04/24 910,747 0.0816,483 Gecina EUR 2.000% 30/06/32 16,336 0.0088,856 Groupama EUR 6.000% 23/01/27 105,663 0.0117,771 Groupama EUR 7.875% 27/10/39 20,426 0.00

959,647 Groupama EUR 6.375% 29/05/49 1,073,072 0.09799,706 Havas EUR 1.875% 08/12/20 831,401 0.0744,739 HSBC France EUR 1.625% 03/12/18 45,815 0.01

995,190 Iliad EUR 2.125% 05/12/22 1,034,930 0.09142,170 La Banque Postale EUR 2.750% 19/11/27 149,546 0.01398,787 La Mondiale EUR 5.050% 29/12/49 444,697 0.04533,137 La Mondiale USD 7.625% 31/12/49 501,927 0.04812,679 mFinance France EUR 2.000% 26/11/21 858,031 0.0718,838 Orange EUR 4.125% 23/01/19 20,032 0.00

642,075 Orange EUR 4.000% 29/10/49 697,939 0.06826,363 Orange EUR 5.000% 29/10/49 927,177 0.0827,314 Orange EUR 5.250% 29/12/49 31,207 0.0035,273 RCI Banque EUR 0.625% 10/11/21 35,248 0.00

712,627 RCI Banque EUR 1.375% 08/03/24 722,065 0.06120,134 Rexel EUR 3.500% 15/06/23 125,900 0.01


57,101 Schlumberger FinanceFrance EUR 0.625% 12/02/19 57,691 0.01

7,064 SCOR EUR 3.000% 08/06/46 7,504 0.009,419 SCOR EUR 3.875% 29/10/49 10,283 0.00

16,483 SEB EUR 2.375% 25/11/22 17,581 0.00518,565 SEB EUR 1.500% 31/05/24 523,346 0.04


166





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


528,568 SFR Group USD 6.000% 15/05/22 485,446 0.04150,522 SFR Group EUR 5.625% 15/05/24 162,585 0.01906,333 Societe Fonciere Lyonnaise EUR 1.875% 26/11/21 950,137 0.0825,902 Societe Generale EUR 2.375% 28/02/18 26,352 0.0030,611 Societe Generale EUR 0.750% 19/02/21 31,140 0.0016,483 Societe Generale EUR 0.469% 22/05/24 16,526 0.00

0 Societe Generale EUR 9.375% 29/09/49 0 0.00462,052 SPIE EUR 3.125% 22/03/24 482,870 0.04

9,419 Suez EUR 2.750% 09/10/23 10,583 0.00728,621 TDF Infrastructure EUR 2.875% 19/10/22 793,378 0.07213,255 TDF Infrastructure EUR 2.500% 07/04/26 222,346 0.02284,340 Teleperformance EUR 1.500% 03/04/24 284,857 0.02231,026 TOTAL EUR 2.250% 29/12/49 234,216 0.0227,526 TOTAL EUR 2.625% 29/12/49 27,297 0.00

251,641 TOTAL EUR 2.708% 29/12/49 256,582 0.0219,403 TOTAL EUR 3.875% 29/12/49 20,946 0.0016,483 Total Capital International EUR 0.250% 12/07/23 16,167 0.008,124 Unibail-Rodamco EUR 1.375% 09/03/26 8,252 0.00

60,862,774 5.08Germany

40,030 Allianz EUR 2.241% 07/07/45 40,306 0.0016,483 Allianz EUR 3.099% 06/07/47 17,364 0.00

195,484 Allianz EUR 4.750% 29/10/49 225,518 0.024,286 Bayer EUR 2.375% 02/04/75 4,329 0.00

716,359 Bayer EUR 3.000% 01/07/75 746,313 0.06669,568 Bundesobligation EUR 0.000% 08/04/22 676,757 0.06766,140 Bundesrepublik














Deutschland EUR 4.250% 04/07/39 939,064 0.0818,838 Bundesschatzanweisungen EUR 0.000% 15/12/17 18,897 0.00

1,794,956 Bundesschatzanweisungen EUR 0.000% 14/06/19 1,815,223 0.1519,779 Continental EUR 3.125% 09/09/20 21,597 0.0047,847 Daimler EUR 0.500% 09/09/19 48,309 0.00

0 Daimler EUR 1.400% 12/01/24 0 0.001,627,135 Daimler EUR 1.500% 03/07/29 1,598,380 0.13

32,966 Deutsche Bank EUR 1.500% 20/01/22 33,786 0.001,095,064 Deutsche Pfandbriefbank EUR 1.375% 15/01/18 1,103,365 0.09

594,804 Deutsche Wohnen EUR 1.375% 24/07/20 614,233 0.0533,437 E.ON EUR 0.375% 23/08/21 33,335 0.00



604,222 Eurogrid EUR 1.875% 10/06/25 641,343 0.059,537 Evonik Industries EUR 2.125% 07/07/77 9,532 0.00

0 FMS WertmanagementAoeR (traded in Germany) EUR 0.000% 20/10/20 0 0.00





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


0 FMS WertmanagementAoeR (traded inLuxembourg) EUR 0.000% 20/10/20 0 0.00

32,612 Fraport Frankfurt AirportServices Worldwide EUR 5.250% 10/09/19 36,104 0.00

23,382 Fresenius & Co EUR 4.000% 01/02/24 27,099 0.0015,376 HeidelbergCement EUR 2.250% 30/03/23 16,460 0.0039,559 Henkel & Co EUR 0.000% 13/09/18 39,628 0.00

284,340 IHO Verwaltungs EUR 3.250% 15/09/23 292,350 0.021,483,350 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 30/06/21 1,495,466 0.13926,745 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 28/04/22 930,266 0.0872,336 Landwirtschaftliche

Rentenbank EUR 0.625% 20/02/30 69,078 0.01337,654 LEG Immobilien EUR 1.250% 23/01/24 339,936 0.03215,034 State of North

Rhine-Westphalia Germany EUR 1.550% 16/06/48 207,136 0.0227,785 Symrise EUR 1.750% 10/07/19 28,614 0.00



36,380 Volkswagen Leasing EUR 2.625% 15/01/24 39,662 0.00923,749 Volkswagen Leasing EUR 1.375% 20/01/25 913,736 0.08

33,979,093 2.83Guernsey

618,439 Credit Suisse GroupFunding Guernsey USD 3.800% 09/06/23 559,753 0.05

559,753 0.05Hong Kong

42,408 CK Hutchison Finance 16 EUR 1.250% 06/04/23 42,789 0.017,300 CK Hutchison Finance 16 EUR 2.000% 06/04/28 7,371 0.00

50,160 0.01Iceland



2,202,806 0.18India

213,255 ONGC Videsh EUR 2.750% 15/07/21 226,843 0.02

226,843 0.02Ireland

488,709 Allied Irish Banks EUR 4.125% 26/11/25 521,084 0.040 Aquarius + Investments for

Relx Finance EUR 0.172% 22/05/17 0 0.00172,543 Ardagh Packaging Finance



581,871 Bank of Ireland EUR 4.250% 11/06/24 614,870 0.0519,097 Cloverie for Zurich

Insurance EUR 1.750% 16/09/24 20,162 0.009 ESB Finance EUR 6.250% 11/09/17 10 0.00

32,613 ESB Finance DAC EUR 3.494% 12/01/24 37,836 0.000 FCA Bank Ireland EUR 2.875% 26/01/18 0 0.00

177,713 FCA Bank Ireland EUR 2.000% 23/10/19 184,693 0.02540,957 FCA Bank Ireland EUR 1.375% 17/04/20 554,302 0.0511,679 FCA Bank Ireland EUR 1.000% 15/11/21 11,739 0.00

352,048 Fresenius Finance Ireland EUR 1.500% 30/01/24 356,224 0.03110,893 Fresenius Finance Ireland EUR 2.125% 01/02/27 113,857 0.01802,727 Fresenius Finance Ireland EUR 3.000% 30/01/32 843,896 0.07

0 GAS Networks Ireland EUR 1.375% 05/12/26 0 0.0030,281 GE Capital European

Funding EUR 2.875% 18/06/19 31,938 0.002,666,754 Ireland Government Bond EUR 4.500% 18/04/20 3,024,952 0.25


167





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Ireland (continued)2,866,760 Ireland Government Bond EUR 5.000% 18/10/20 3,365,631 0.281,500,055 Ireland Government Bond EUR 1.000% 15/05/26 1,516,989 0.13

1 Ireland Government Bond EUR 2.400% 15/05/30 1 0.001,628,852 Ireland Government Bond EUR 1.700% 15/05/37 1,628,712 0.14

586,451 Johnson ControlsInternational EUR 1.000% 15/09/23 579,825 0.05

33,437 PartnerRe Ireland FinanceDAC EUR 1.250% 15/09/26 31,973 0.00

662,334 Ryanair EUR 1.875% 17/06/21 699,056 0.06195,484 Smurfit Kappa

Acquisitions EUR 2.375% 01/02/24 200,791 0.02177,713 Transmission Finance EUR 1.500% 24/05/23 183,129 0.01

14,781,383 1.23Italy

18,979 Assicurazioni Generali EUR 5.500% 27/10/47 21,184 0.0018,838 Assicurazioni Generali EUR 5.000% 08/06/48 20,263 0.00

337,654 Beni Stabili SIIQ EUR 4.125% 22/01/18 345,582 0.0338,217 Davide Campari-Milano EUR 2.750% 30/09/20 40,885 0.00

476,092 Enel EUR 6.500% 10/01/74 515,963 0.04177,712 Enel GBP 7.750% 10/09/75 230,349 0.02218,586 Enel GBP 6.625% 15/09/76 278,633 0.0253,216 Eni EUR 1.500% 17/01/27 53,022 0.0061,222 Intesa Sanpaolo EUR 4.000% 08/11/18 64,539 0.019,419 Intesa Sanpaolo EUR 4.375% 15/10/19 10,314 0.009,419 Intesa Sanpaolo EUR 4.125% 14/04/20 10,434 0.00

452,456 Intesa Sanpaolo USD 5.250% 12/01/24 438,839 0.0443,185 Intesa Sanpaolo EUR 1.375% 18/01/24 43,380 0.00

280,430 Intesa Sanpaolo USD 5.710% 15/01/26 260,040 0.022,417,620 Italy Buoni Poliennali Del

Tesoro EUR 2.150% 12/11/17 2,441,675 0.20984,658 Italy Buoni Poliennali Del

Tesoro EUR 1.700% 15/09/18 1,012,234 0.082,174,807 Italy Buoni Poliennali Del


Tesoro EUR 2.350% 15/09/19 484,169 0.042,050,207 Italy Buoni Poliennali Del

Tesoro EUR 1.650% 23/04/20 2,149,847 0.186,111,093 Italy Buoni Poliennali Del











Tesoro (traded in Italy) EUR 5.500% 01/09/22 242,836 0.021,272,436 Italy Buoni Poliennali Del

Tesoro (traded in Italy) EUR 4.500% 01/05/23 1,508,652 0.13266,539 Italy Buoni Poliennali Del

Tesoro (traded inSwitzerland) EUR 4.500% 01/05/23 316,020 0.03









market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets






222,141 Telecom Italia GBP 6.375% 24/06/19 276,475 0.02255,085 Telecom Italia USD 5.303% 30/05/24 240,704 0.0232,730 Terna Rete Elettrica

Nazionale EUR 2.875% 16/02/18 33,341 0.00

38,033,479 3.17Jersey

13,422 Heathrow Funding EUR 1.875% 23/05/22 14,275 0.00


509,673 Accudyne IndustriesBorrower via AccudyneIndustries USD 7.750% 15/12/20 449,100 0.04

426,688 Allergan Funding EUR 1.250% 01/06/24 425,037 0.04524,074 Allergan Funding EUR 2.125% 01/06/29 524,564 0.04422,655 Altice Financing USD 6.625% 15/02/23 394,081 0.03372,931 Altice Luxembourg USD 7.625% 15/02/25 359,672 0.0315,659 CNH Industrial Finance

Europe EUR 6.250% 09/03/18 16,315 0.0020,133 CNH Industrial Finance

Europe EUR 1.375% 23/05/22 20,319 0.00254,588 Consolidated Energy

Finance USD 6.750% 15/10/19 227,958 0.02256,079 Consolidated Energy

Finance USD 6.875% 15/06/25 231,820 0.021,099,899 Coveris Holdings USD 7.875% 01/11/19 954,715 0.08

5,416 DH Europe Finance EUR 1.000% 08/07/19 5,504 0.001,962,348 European Financial

Stability Facility EUR 0.750% 03/05/27 1,952,007 0.161,983,818 European Financial

Stability Facility EUR 1.250% 24/05/33 1,949,813 0.16426,510 Gazprom via Gaz Capital GBP 4.250% 06/04/24 502,018 0.04550,367 GELF Bond Issuer I EUR 1.750% 22/11/21 572,132 0.05

4,709 GELF Bond Issuer I EUR 0.875% 20/10/22 4,678 0.0026,608 Glencore Finance Europe EUR 4.625% 03/04/18 27,532 0.0034,025 Glencore Finance Europe EUR 1.875% 13/09/23 34,488 0.0018,908 Glencore Finance Europe EUR 1.750% 17/03/25 18,495 0.002,355 Grand City Properties EUR 2.000% 29/10/21 2,485 0.00



842,357 Novartis Finance EUR 0.125% 20/09/23 820,632 0.07528,694 Prologis International

Funding II EUR 1.876% 17/04/25 540,931 0.0533,554 Simon International

Finance EUR 1.375% 18/11/22 34,542 0.009,301 Simon International

Finance EUR 1.250% 13/05/25 9,261 0.00514,148 Topaz Marine USD 8.625% 01/11/18 452,236 0.04671,276 Wind Acquisition Finance USD 7.375% 23/04/21 612,465 0.05

11,409,625 0.95Mexico

23,076 America Movil EUR 3.000% 12/07/21 25,219 0.008,077 America Movil EUR 4.750% 28/06/22 9,639 0.00



2,753,334 0.23


168





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Netherlands

45,446 ABN AMRO Bank EUR 4.750% 11/01/19 48,799 0.001,035,175 Achmea EUR 6.000% 04/04/43 1,169,915 0.101,098,085 Achmea EUR 4.250% 29/12/49 1,063,858 0.09

24,018 Achmea Bank EUR 0.875% 17/09/18 24,284 0.0023,782 Alliander EUR 4.500% 17/12/19 26,408 0.007,700 ASR Nederland EUR 5.125% 29/09/45 8,693 0.00

62,399 BMW Finance EUR 1.500% 05/06/18 63,401 0.01710,850 Cetin Finance EUR 1.423% 06/12/21 730,516 0.06348,069 Constellium USD 7.875% 01/04/21 327,683 0.03410,224 Constellium EUR 7.000% 15/01/23 423,590 0.0455,194 Cooperatieve Rabobank EUR 4.000% 11/01/22 64,164 0.0110,784 Cooperatieve Rabobank EUR 4.750% 06/06/22 13,061 0.008,006 Delta Lloyd



Zurich Insurance EUR 3.500% 01/10/46 9,231 0.00328,608 Deutsche Bahn Finance EUR 0.875% 11/07/31 302,837 0.03540,779 Deutsche Bahn Finance EUR 1.500% 08/12/32 534,728 0.05250,575 Deutsche Telekom




International Finance EUR 1.500% 03/04/28 37,747 0.00115,691 EDP Finance USD 5.250% 14/01/21 109,049 0.0151,332 EDP Finance EUR 2.375% 23/03/23 54,570 0.01

314,551 ELM for Swiss LifeInsurance & Pension Group EUR 4.500% 29/12/49 342,794 0.03

17,189 Enel Finance International EUR 5.250% 29/09/23 21,803 0.0041,678 Enexis Holding EUR 1.500% 20/10/23 43,655 0.0030,611 Enexis Holding EUR 0.875% 28/04/26 30,015 0.00

110,715 Evonik Finance EUR 0.000% 08/03/21 109,339 0.010 Gas Natural Fenosa

Finance EUR 1.375% 19/01/27 0 0.0071,085 Generali Finance (traded in


United States) EUR 4.596% 30/11/49 159,710 0.0131,317 Heineken EUR 2.500% 19/03/19 32,630 0.0026,726 Heineken EUR 3.500% 19/03/24 31,271 0.0016,436 Heineken EUR 1.500% 07/12/24 17,053 0.0042,620 Heineken EUR 2.875% 04/08/25 48,486 0.00

0 ING Bank EUR 0.326% 05/06/17 0 0.0062,870 ING Bank EUR 1.250% 13/12/19 64,776 0.01

693,079 ING Bank USD 4.125% 21/11/23 622,208 0.0521,192 ING Groep EUR 2.500% 15/02/29 22,121 0.00

482,845 innogy Finance GBP 6.500% 20/04/21 651,925 0.0571,085 innogy Finance GBP 4.750% 31/01/34 99,615 0.0128,256 JAB Holdings EUR 1.250% 22/05/24 28,495 0.0028,256 JAB Holdings EUR 2.000% 18/05/28 28,584 0.00



Holding Netherlands USD 6.875% 15/05/23 198,842 0.0240,030 LeasePlan EUR 1.000% 08/04/20 40,712 0.00


693,078 Mylan EUR 2.250% 22/11/24 718,035 0.061,588,936 Netherlands Government

Bond EUR 0.000% 15/01/22 1,602,615 0.13139 Netherlands Government


Bond (traded in Germany) EUR 1.750% 15/07/23 555,731 0.05105,586 Netherlands Government

Bond (traded inNetherlands) EUR 1.750% 15/07/23 116,552 0.01





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


295,863 Netherlands GovernmentBond EUR 0.250% 15/07/25 293,553 0.03


462,052 NIBC Bank EUR 1.500% 31/01/22 471,079 0.0491,700 Petrobras Global Finance USD 6.125% 17/01/22 83,133 0.01

226,583 Petrobras Global Finance USD 7.375% 17/01/27 210,681 0.02157,098 Petrobras Global Finance GBP 6.625% 16/01/34 174,352 0.02372,130 Petrobras Global Finance USD 7.250% 17/03/44 322,031 0.03146,968 Redexis Gas Finance EUR 2.750% 08/04/21 159,280 0.0153,314 Redexis Gas Finance EUR 1.875% 27/04/27 52,993 0.00

803,140 RELX Finance EUR 1.000% 22/03/24 806,571 0.0767,708 Repsol International

Finance EUR 3.875% 29/12/49 70,718 0.0179,260 Repsol International

Finance EUR 4.500% 25/03/75 81,622 0.0135,674 Samvardhana Motherson

Automotive Systems Group EUR 1.800% 06/07/24 35,119 0.0041,207 Schaeffler Finance EUR 3.250% 15/05/25 44,218 0.00


0 TenneT Holding EUR 6.655% 29/06/49 0 0.0032,660 Teva Pharmaceutical

Finance Netherlands II EUR 1.250% 31/03/23 32,283 0.0040,030 Teva Pharmaceutical

Finance Netherlands II EUR 1.125% 15/10/24 38,414 0.00120,402 Vesteda Finance EUR 1.750% 22/07/19 123,583 0.01621,994 Vesteda Finance EUR 2.500% 27/10/22 667,257 0.0637,675 Volkswagen International





Finance EUR 3.875% 31/12/99 21,065 0.00610,442 Vonovia Finance EUR 0.875% 30/03/20 621,424 0.05

1,048,503 Vonovia Finance EUR 1.625% 15/12/20 1,094,672 0.09867,148 Vonovia Finance EUR 1.250% 06/12/24 866,254 0.07249,864 Vonovia Finance EUR 4.000% 29/12/49 269,300 0.02306,821 Vonovia Finance EUR 4.625% 08/04/74 325,188 0.0315,305 Wolters Kluwer EUR 6.375% 10/04/18 16,068 0.00


22,560,068 1.88New Zealand


38,146 ASB Finance EUR 0.500% 10/06/22 37,775 0.00302,111 Chorus EUR 1.125% 18/10/23 300,681 0.03

357,379 0.03Norway

0 Statoil EUR 1.625% 09/11/36 0 0.00

0 0.00Panama1,066,275 Carnival EUR 1.125% 06/11/19 1,090,119 0.09

604,222 Carnival EUR 1.625% 22/02/21 629,718 0.06479,824 Carnival EUR 1.875% 07/11/22 506,502 0.04

2,226,339 0.19Peru


74,647 0.01Poland






169





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Portugal (continued)



1,102,247 0.09Romania




1,368,623 0.11Spain

18,838 Abertis Infraestructuras EUR 1.375% 20/05/26 18,691 0.00444,281 Bankia EUR 4.000% 22/05/24 461,677 0.04231,026 Bankia EUR 3.375% 15/03/27 235,345 0.02497,595 CaixaBank EUR 3.500% 15/02/27 520,416 0.04408,739 Canal de Isabel II Gestion EUR 1.680% 26/02/25 414,385 0.03536,558 Cellnex Telecom EUR 2.375% 16/01/24 550,646 0.05102,984 Cellnex Telecom EUR 2.875% 18/04/25 106,763 0.01463,547 FADE - Fondo de

Amortizacion del DeficitElectrico EUR 0.031% 17/06/20 465,028 0.04

21,192 Ferrovial Emisiones EUR 1.375% 31/03/25 21,200 0.0021,192 Gas Natural Capital

Markets EUR 1.125% 11/04/24 21,358 0.00479,824 IE2 Holdco EUR 2.375% 27/11/23 509,102 0.04444,281 IE2 Holdco EUR 2.875% 01/06/26 474,218 0.04177,713 Inmobiliaria Colonial EUR 1.863% 05/06/19 183,719 0.0271,085 Inmobiliaria Colonial EUR 2.728% 05/06/23 76,621 0.01

429,931 Inmobiliaria Colonial EUR 1.450% 28/10/24 422,691 0.04195,484 Mapfre EUR 4.375% 31/03/47 208,811 0.0219,779 Merlin Properties Socimi EUR 1.750% 26/05/25 19,718 0.00

373,196 Santander ConsumerFinance EUR 1.100% 30/07/18 377,964 0.03



1,012,961 Santander ConsumerFinance EUR 0.875% 24/01/22 1,018,400 0.09

30,611 Santander Issuances EUR 2.500% 18/03/25 31,347 0.0017,769 Spain Government Bond

(traded in Germany) EUR 5.500% 30/07/17 17,845 0.003,863 Spain Government Bond

(traded in Spain) EUR 5.500% 30/07/17 3,879 0.00340,707 Spain Government Bond EUR 4.100% 30/07/18 356,975 0.03


853,020 Spain Government Bond EUR 4.000% 30/04/20 953,036 0.082,142,359 Spain Government Bond EUR 1.150% 30/07/20 2,227,034 0.19


943,833 Spain Government Bond EUR 5.400% 31/01/23 1,198,845 0.10220,442 Spain Government Bond EUR 4.800% 31/01/24 277,278 0.02

1,519,404 Spain Government Bond EUR 3.800% 30/04/24 1,812,370 0.15623,471 Spain Government Bond EUR 1.950% 30/04/26 655,870 0.05482,861 Spain Government Bond EUR 1.300% 31/10/26 478,728 0.04

1,328,784 Spain Government Bond EUR 1.500% 30/04/27 1,326,094 0.111,078,261 Spain Government Bond EUR 1.450% 31/10/27 1,061,221 0.092,271,122 Spain Government Bond EUR 2.350% 30/07/33 2,303,195 0.19


1,510,320 Spain Government InflationLinked Bond EUR 0.550% 30/11/19 1,564,288 0.13


142,170 Telefonica Emisiones GBP 5.597% 12/03/20 180,238 0.0228,256 Telefonica Emisiones EUR 2.932% 17/10/29 30,678 0.00

31,051,308 2.59





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Supranational

372,931 Endo Dac via EndoFinance via Endo Finco USD 6.000% 01/02/25 268,119 0.02





124,311 Venator Finance viaVenator Materials USD 5.750% 15/07/25 110,354 0.01

1,371,374 0.12Sweden

183,044 Energa Finance EUR 2.125% 07/03/27 182,148 0.02240,800 Essity EUR 0.625% 28/03/22 240,086 0.02284,340 Essity EUR 1.125% 27/03/24 285,284 0.03501,149 Molnlycke Holding EUR 1.500% 28/02/22 517,262 0.0423,052 Nordea Bank EUR 1.375% 12/04/18 23,350 0.006,146 Nordea Bank EUR 4.000% 11/07/19 6,645 0.005,651 Nordea Bank EUR 2.000% 17/02/21 6,011 0.00

16,601 PZU Finance EUR 1.375% 03/07/19 16,980 0.0012,244 Scania EUR 0.018% 24/10/18 12,281 0.0030,611 Scania CV EUR 0.069% 20/04/20 30,725 0.00

1,931,419 Svenska Handelsbanken EUR 1.125% 14/12/22 1,991,264 0.17710,850 Telia EUR 3.000% 04/04/78 732,474 0.06252,885 Vattenfall EUR 3.000% 19/03/77 247,632 0.02



Switzerland EUR 0.371% 20/09/22 403,341 0.031,417,003 UBS Group Funding

Switzerland EUR 1.500% 30/11/24 1,452,342 0.12



20,721 Aviva EUR 3.875% 03/07/44 22,327 0.00149,101 Aviva EUR 3.375% 04/12/45 153,589 0.0137,793 Barclays EUR 1.875% 08/12/23 39,213 0.00

726,844 Barclays GBP 3.125% 17/01/24 857,322 0.0741,325 Barclays EUR 2.625% 11/11/25 42,563 0.00

865,637 Barclays GBP 3.250% 12/02/27 1,005,790 0.0842,385 BAT International Finance EUR 0.375% 13/03/19 42,587 0.00

231,026 BAT International Finance EUR 1.000% 23/05/22 233,739 0.020 BAT International Finance EUR 2.375% 19/01/23 0 0.00

44,975 BG Energy Capital EUR 1.250% 21/11/22 46,560 0.0025,548 BP Capital Markets EUR 1.117% 25/01/24 25,862 0.0038,617 British

Telecommunications EUR 0.625% 10/03/21 38,770 0.000 British

Telecommunications EUR 1.750% 10/03/26 0 0.0045,210 British

Telecommunications EUR 1.500% 23/06/27 44,210 0.0020,957 Cadent Finance EUR 0.625% 22/09/24 20,251 0.0087,435 Centrica EUR 3.000% 10/04/76 89,710 0.01



42,361 Compass Group EUR 3.125% 13/02/19 44,451 0.001,403,928 Coventry Building Society EUR 2.500% 18/11/20 1,499,360 0.13

52,156 Credit Suisse EUR 1.000% 07/06/23 53,002 0.01121,733 CYBG GBP 3.125% 22/06/25 137,189 0.01447,835 CYBG GBP 5.000% 09/02/26 517,675 0.0431,788 Diageo Finance EUR 1.125% 20/05/19 32,382 0.00

917,352 DS Smith EUR 2.250% 16/09/22 968,021 0.0862,635 EE Finance EUR 3.250% 03/08/18 64,830 0.01

474,492 FCE Bank EUR 1.660% 11/02/21 492,356 0.04557,129 Friends Life Holdings GBP 8.250% 21/04/22 818,940 0.07


170





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


711,740 G4S International Finance EUR 1.500% 09/01/23 722,264 0.06159,941 GKN Holdings GBP 3.375% 12/05/32 182,518 0.0223,900 Global Switch Holdings EUR 1.500% 31/01/24 23,954 0.00

162,252 Hammerson EUR 1.750% 15/03/23 168,260 0.01924,105 HSBC Holdings EUR 0.369% 27/09/22 932,296 0.08

0 HSBC Holdings GBP 5.750% 20/12/27 0 0.00302,111 HSBC Holdings GBP 2.625% 16/08/28 345,208 0.03266,569 HSBC Holdings GBP 6.750% 11/09/28 400,011 0.0340,383 Imperial Brands Finance EUR 1.375% 27/01/25 40,222 0.00

422,655 International Car WashGroup Financing EUR 6.625% 15/07/19 429,829 0.04

177,713 Investec GBP 4.500% 05/05/22 218,472 0.02415,314 ITV EUR 2.125% 21/09/22 430,986 0.04543,445 ITV EUR 2.000% 01/12/23 554,141 0.05


Automotive GBP 2.750% 24/01/21 117,195 0.0124,960 Jaguar Land Rover

Automotive EUR 2.200% 15/01/24 25,268 0.0062,155 KCA Deutag UK Finance USD 7.250% 15/05/21 48,501 0.0049,724 KCA Deutag UK Finance USD 9.875% 01/04/22 42,507 0.0055,624 Ladbrokes Group Finance GBP 5.125% 08/09/23 62,873 0.01

261,770 Lloyds Banking Group EUR 1.000% 09/11/23 261,756 0.02319,882 Merlin Entertainments EUR 2.750% 15/03/22 334,723 0.03426,135 Nationwide Building

Society EUR 0.500% 29/10/19 430,137 0.04355,425 Nationwide Building

Society EUR 6.750% 22/07/20 421,280 0.040 Nationwide Building

Society EUR 1.125% 03/06/22 0 0.00555,529 Nationwide Building



Society EUR 1.375% 29/06/32 436,667 0.04101,296 Old Mutual GBP 8.000% 03/06/21 133,622 0.01605,999 Pirelli International EUR 1.750% 18/11/19 619,261 0.05906,333 Royal Bank of Scotland EUR 0.500% 15/05/24 897,463 0.08

1,581,641 Royal Bank of ScotlandGroup EUR 2.000% 08/03/23 1,634,585 0.14

539,460 Royal Bank of ScotlandGroup EUR 2.500% 22/03/23 573,532 0.05

455,122 Santander UK EUR 0.875% 13/01/20 462,845 0.0414,364 Santander UK EUR 2.625% 16/07/20 15,378 0.0038,264 Santander UK EUR 0.875% 25/11/20 38,951 0.00

281,141 Skipton Building Society GBP 1.750% 30/06/22 317,273 0.03710,850 Sky EUR 1.500% 15/09/21 736,683 0.0629,316 Sky EUR 1.875% 24/11/23 30,745 0.0014,364 Sky EUR 2.500% 15/09/26 15,440 0.00

319,882 Smiths Group EUR 2.000% 23/02/27 325,184 0.031,439,471 SSE EUR 1.750% 08/09/23 1,521,506 0.13

353,648 SSE EUR 5.625% 29/09/49 358,371 0.03166,872 SSE GBP 3.875% 29/12/49 195,565 0.02177,712 SSE GBP 3.625% 16/09/77 204,881 0.0216,813 Standard Chartered EUR 3.625% 23/11/22 18,582 0.00

462,052 Tesco GBP 5.000% 24/03/23 581,570 0.05232,270 Tesco GBP 6.000% 14/12/29 308,769 0.03570,457 TSB Banking Group GBP 5.750% 06/05/26 705,336 0.06497,242 Tullow Oil USD 6.250% 15/04/22 399,454 0.03133,284 Virgin Media Secured


Finance GBP 6.250% 28/03/29 234,987 0.0237,416 Vodafone Group EUR 0.500% 30/01/24 36,085 0.00

274,743 William Hill GBP 4.875% 07/09/23 322,334 0.0320,721 WPP Finance 2013 EUR 0.750% 18/11/19 21,002 0.00

700,365 Yorkshire Building Society EUR 2.125% 18/03/19 724,681 0.061,466,483 Yorkshire Building Society EUR 1.250% 17/03/22 1,500,567 0.13


378,401 A Schulman USD 6.875% 01/06/23 352,506 0.03462,052 AbbVie EUR 0.375% 18/11/19 464,293 0.04





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


622,298 Aircastle USD 4.125% 01/05/24 557,547 0.05372,931 Alere USD 6.500% 15/06/20 333,106 0.03497,242 Allegheny Technologies USD 7.875% 15/08/23 457,765 0.04388,346 Allegiant Travel USD 5.500% 15/07/19 354,961 0.03366,467 Alliance Resource

Operating Partners viaAlliance Resource Finance USD 7.500% 01/05/25 338,979 0.03



Holdings USD 6.125% 15/05/27 230,585 0.02497,242 American Airlines Group USD 5.500% 01/10/19 461,296 0.04248,797 American Tower EUR 1.375% 04/04/25 245,382 0.0223,547 Apple EUR 1.375% 17/01/24 24,490 0.00

226,494 Appvion USD 9.000% 01/06/20 104,256 0.01698,692 AT&T EUR 1.800% 04/09/26 692,578 0.06718,138 AT&T EUR 2.350% 04/09/29 710,490 0.06191,463 AT&T EUR 3.550% 17/12/32 208,878 0.02501,149 AT&T EUR 2.450% 15/03/35 462,489 0.04558,994 AT&T EUR 3.150% 04/09/36 551,755 0.05397,187 AT&T USD 5.450% 01/03/47 376,306 0.0335,791 Avery Dennison EUR 1.250% 03/03/25 35,036 0.0010,596 Bank of America EUR 4.625% 07/08/17 10,646 0.00

444,281 Bank of America GBP 6.125% 15/09/21 601,031 0.0550,979 Bank of America EUR 0.736% 07/02/22 51,173 0.00

487,998 Bank of America EUR 1.625% 14/09/22 506,620 0.041,190,673 Bank of America EUR 0.451% 04/05/23 1,193,376 0.10

39,677 Bank of America EUR 1.379% 07/02/25 39,882 0.00664,254 Bank of America EUR 1.776% 04/05/27 668,211 0.06353,539 Beazer Homes USA USD 6.750% 15/03/25 323,921 0.0317,660 Becton Dickinson & Co EUR 0.368% 06/06/19 17,722 0.00

408,739 Becton Dickinson & Co EUR 1.000% 15/12/22 406,388 0.0318,249 Becton Dickinson & Co EUR 1.900% 15/12/26 18,139 0.0050,508 Berkshire Hathaway EUR 1.300% 15/03/24 51,719 0.00

599,176 C&S Group Enterprises USD 5.375% 15/07/22 520,086 0.04172,294 CalAtlantic Group USD 5.875% 15/11/24 164,280 0.01172,294 CalAtlantic Group USD 5.250% 01/06/26 157,294 0.01229,477 Cardtronics via Cardtronics



Holdings Capital USD 5.875% 01/05/27 408,651 0.03124,310 Cemex Finance EUR 4.625% 15/06/24 134,856 0.01497,242 Chemours USD 7.000% 15/05/25 477,383 0.0486,023 Chemours USD 5.375% 15/05/27 77,959 0.01

151,161 Chesapeake Energy USD 8.000% 15/12/22 140,652 0.01248,621 Chesapeake Energy USD 8.000% 15/01/25 216,621 0.02119,587 CHS USD 5.125% 01/08/21 106,554 0.01372,185 CHS USD 6.875% 01/02/22 286,347 0.02300,334 CHS USD 6.250% 31/03/23 272,830 0.02621,552 Citgo Holding USD 10.750% 15/02/20 594,686 0.0515,282 Citigroup EUR 5.000% 02/08/19 16,848 0.0084,992 Citigroup EUR 0.750% 26/10/23 83,561 0.01



23,311 Coca-Cola EUR 0.000% 09/03/21 23,101 0.00202,626 Commercial Metals USD 5.375% 15/07/27 181,432 0.02348,069 Continental Resources USD 5.000% 15/09/22 300,599 0.03372,931 Continental Resources USD 4.900% 01/06/44 274,659 0.0240,571 Continental Rubber of

America EUR 0.500% 19/02/19 40,876 0.0034,061 Covey Park Energy via

Covey Park Finance USD 7.500% 15/05/25 29,938 0.00621,552 CSVC Acquisition USD 7.750% 15/06/25 558,242 0.05


171





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


497,242 CVR Partners via CVRNitrogen Finance USD 9.250% 15/06/23 457,765 0.04

138,730 Deck Chassis Acquisition USD 10.000% 15/06/23 135,319 0.01304,561 Dell USD 7.100% 15/04/28 294,400 0.02731,464 Digital Euro Finco EUR 2.625% 15/04/24 777,740 0.07402,163 Discovery Communications EUR 1.900% 19/03/27 384,856 0.03248,621 DISH DBS USD 5.000% 15/03/23 223,978 0.02270,997 DISH DBS USD 7.750% 01/07/26 282,152 0.0278,564 Eagle Holding II USD 7.625% 15/05/22 71,035 0.0123,947 Ecolab EUR 1.000% 15/01/24 23,898 0.00

184,821 Eli Lilly & Co EUR 2.125% 03/06/30 194,176 0.02310,776 EnPro Industries USD 5.875% 15/09/22 285,422 0.02148,178 EnPro Industries (traded in




Acquisition Finance USD 8.000% 15/02/25 326,975 0.0326,891 FedEx EUR 1.000% 11/01/23 27,083 0.0013,893 FedEx EUR 1.625% 11/01/27 13,888 0.00


497,242 Frontier Communications USD 8.125% 01/10/18 461,580 0.04497,242 Gates Global via Gates

Global USD 6.000% 15/07/22 439,236 0.0430,846 General Electric EUR 1.250% 26/05/23 31,883 0.0043,915 General Electric EUR 0.875% 17/05/25 43,365 0.00

567,398 General Electric EUR 1.500% 17/05/29 561,039 0.05658,845 Genesis Energy via Genesis

Energy Finance USD 6.000% 15/05/23 568,991 0.0517,166 Goldman Sachs Group EUR 0.750% 10/05/19 17,389 0.00

290,560 Goldman Sachs Group EUR 0.671% 27/07/21 296,723 0.02339,608 Goldman Sachs Group EUR 2.000% 27/07/23 357,117 0.03

1,070,429 Goldman Sachs Group EUR 1.375% 15/05/24 1,080,008 0.090 Goldman Sachs Group EUR 2.125% 30/09/24 0 0.00

513,651 Goodyear Tire & Rubber USD 4.875% 15/03/27 458,235 0.04376,661 Halyard Health USD 6.250% 15/10/22 345,931 0.03248,621 HCA USD 5.375% 01/02/25 230,474 0.02397,793 HCA USD 5.250% 15/06/26 377,024 0.03372,931 Hertz USD 7.625% 01/06/22 327,008 0.03497,242 High Ridge Brands USD 8.875% 15/03/25 436,512 0.04559,397 Hughes Satellite Systems USD 5.250% 01/08/26 514,372 0.04248,621 Icahn Enterprises via Icahn


Enterprises Finance USD 6.750% 01/02/24 455,629 0.042,355 Illinois Tool Works (traded

in Germany) EUR 1.250% 22/05/23 2,431 0.007,417 Illinois Tool Works (traded

in United States) EUR 1.250% 22/05/23 7,657 0.0025,713 International Business

Machines EUR 1.250% 26/05/23 26,493 0.0033,083 International Flavors &

Fragrances EUR 1.750% 14/03/24 34,462 0.00248,621 Iron Mountain USD 6.000% 01/10/20 226,158 0.02365,721 j2 Cloud Services via

j2 Global Co-Obligor USD 6.000% 15/07/25 331,876 0.03909,206 JB Poindexter & Co USD 9.000% 01/04/22 838,020 0.0714,222 Johnson & Johnson EUR 0.650% 20/05/24 14,263 0.00

756,699 JPMorgan Chase & Co EUR 0.625% 25/01/24 739,510 0.061,047,082 JPMorgan Chase & Co EUR 1.638% 18/05/28 1,045,616 0.09

408,981 KeHE Distributors viaKeHE Finance USD 7.625% 15/08/21 360,375 0.03

22,370 Kellogg EUR 0.800% 17/11/22 22,280 0.00372,931 Kenan Advantage Group USD 7.875% 31/07/23 344,959 0.03497,242 Lennar USD 4.500% 30/04/24 451,705 0.04745,863 LPL Holdings USD 5.750% 15/09/25 681,743 0.06

9,419 McDonald’s EUR 1.000% 15/11/23 9,502 0.0019,308 Metropolitan Life Global

Funding I EUR 2.375% 30/09/19 20,304 0.00





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


477,158 Metropolitan Life GlobalFunding I EUR 0.875% 20/01/22 485,633 0.04

41,372 Microsoft EUR 3.125% 06/12/28 49,345 0.0017,189 Mohawk Industries EUR 2.000% 14/01/22 18,014 0.0086,191 Mondelez International EUR 2.375% 06/03/35 83,047 0.0138,852 Morgan Stanley EUR 0.171% 03/12/19 38,986 0.0037,675 Morgan Stanley EUR 5.375% 10/08/20 43,584 0.00

856,752 Morgan Stanley EUR 0.371% 27/01/22 863,116 0.07355,425 Morgan Stanley EUR 1.000% 02/12/22 357,953 0.03457,048 Morgan Stanley EUR 1.750% 11/03/24 472,567 0.04263,192 Morgan Stanley EUR 1.375% 27/10/26 255,148 0.02

1,048,503 Morgan Stanley EUR 1.875% 27/04/27 1,049,660 0.090 MPT Operating Partnership

via MPT Finance EUR 4.000% 19/08/22 1 0.00596,690 Nabors Industries USD 5.500% 15/01/23 497,656 0.0416,483 National Grid North

America EUR 1.750% 20/02/18 16,685 0.0054,158 National Grid North

America EUR 0.750% 11/02/22 54,568 0.00372,931 Newfield Exploration USD 5.375% 01/01/26 340,054 0.03848,543 NRG Energy USD 7.250% 15/05/26 773,736 0.06621,552 Oasis Petroleum USD 6.875% 15/03/22 531,334 0.04248,798 Omega Healthcare

Investors USD 4.375% 01/08/23 223,979 0.02191,935 Orchestra Borrower via



497,595 Parker-Hannifin EUR 1.125% 01/03/25 496,220 0.04505,446 PBF Holding via PBF


1 Philip Morris International EUR 2.125% 30/05/19 1 0.00197,439 Philip Morris International EUR 1.750% 19/03/20 205,848 0.02348,069 Platform Specialty

Products USD 10.375% 01/05/21 338,365 0.03497,242 Post Holdings USD 5.000% 15/08/26 435,967 0.04279,920 Priceline Group EUR 0.800% 10/03/22 279,024 0.0216,200 Priceline Group EUR 2.375% 23/09/24 17,218 0.00

733,431 Prime Security ServicesBorrower via PrimeFinance USD 9.250% 15/05/23 700,385 0.06

333,137 Prologis EUR 1.375% 07/10/20 343,772 0.031,071,251 Prologis EUR 3.000% 18/01/22 1,179,146 0.10

497,242 RegionalCare HospitalPartners Holdings USD 8.250% 01/05/23 469,754 0.04

0 RELX Capital EUR 1.300% 12/05/25 0 0.00497,242 Sirius XM Radio USD 5.375% 15/04/25 451,770 0.04561,137 Sirius XM Radio USD 5.000% 01/08/27 498,138 0.04346,329 Six Flags Entertainment USD 4.875% 31/07/24 306,268 0.03489,783 SM Energy USD 6.125% 15/11/22 410,103 0.03497,242 SM Energy USD 6.750% 15/09/26 418,388 0.04208,096 Sonic Automotive USD 6.125% 15/03/27 181,996 0.02745,863 Sprint Capital USD 6.875% 15/11/28 728,546 0.06372,931 Sprint Capital USD 8.750% 15/03/32 412,806 0.03392,572 SunCoke Energy Partners

via SunCoke EnergyPartners Finance USD 7.500% 15/06/25 341,614 0.03


Tempo Acquisition Finance USD 6.750% 01/06/25 68,147 0.01171,797 Tenet Healthcare USD 4.625% 15/07/24 151,191 0.01215,306 THC Escrow III USD 4.625% 15/07/24 189,755 0.02267,019 THC Escrow III USD 5.125% 01/05/25 235,577 0.02668,199 Thermo Fisher Scientific EUR 1.500% 01/12/20 691,312 0.06

0 Thermo Fisher Scientific(traded in Luxembourg) EUR 0.750% 12/09/24 0 0.00

18,838 Thermo Fisher Scientific(traded in United States) EUR 0.750% 12/09/24 18,097 0.00


172





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


113,381 Thermo Fisher Scientific EUR 2.000% 15/04/25 118,434 0.01257,323 TIBCO Software USD 11.375% 01/12/21 249,302 0.02

0 T-Mobile USA USD 6.731% 28/04/22 0 0.00146,257 T-Mobile USA USD 6.000% 15/04/24 137,531 0.01497,242 T-Mobile USA USD 6.500% 15/01/26 482,288 0.04192,681 TransDigm USD 6.500% 15/05/25 172,316 0.01435,086 TransDigm USD 6.375% 15/06/26 388,146 0.0371,085 United States Treasury

Bond USD 3.000% 15/02/47 64,306 0.0121,428 US Bancorp EUR 0.850% 07/06/24 21,242 0.0089,006 USG USD 4.875% 01/06/27 80,477 0.01




International USD 7.000% 15/03/24 271,444 0.02197,902 VeriSign USD 4.750% 15/07/27 176,334 0.01

7,017 Verizon Communications EUR 0.500% 02/06/22 6,910 0.0010,361 VF EUR 0.625% 20/09/23 10,176 0.0067,175 Walgreens Boots Alliance EUR 2.125% 20/11/26 69,389 0.0119,779 Wells Fargo & Co EUR 2.625% 16/08/22 21,736 0.0020,227 Wells Fargo & Co EUR 1.500% 12/09/22 21,045 0.005,840 Wells Fargo & Co EUR 2.250% 02/05/23 6,312 0.00

372,931 West USD 5.375% 15/07/22 331,062 0.03323,207 Western Digital USD 10.500% 01/04/24 335,004 0.03378,152 WMG Acquisition USD 5.000% 01/08/23 341,085 0.03193,924 Wynn Las Vegas via Wynn

Las Vegas Capital USD 5.250% 15/05/27 174,384 0.01325,196 Xerium Technologies USD 9.500% 15/08/21 303,655 0.03396,053 York Risk Services Holding USD 8.500% 01/10/22 335,962 0.03497,242 Zachry Holdings USD 7.500% 01/02/20 451,225 0.04158,371 Zayo Group via Zayo

Capital USD 5.750% 15/01/27 145,625 0.0140,030 ZF North America Capital EUR 2.750% 27/04/23 43,078 0.00

297,491 Zimmer Biomet Holdings EUR 1.414% 13/12/22 302,433 0.03159,941 Zimmer Biomet Holdings EUR 2.425% 13/12/26 166,027 0.01

61,391,685 5.12






Currency Market

Value

% of

Net

Assets

SHARES EUR %Australia290,014 Alumina AUD 374,481 0.03

46,041 Australia & New Zealand Banking Group AUD 889,279 0.0740,995 Bank of Queensland AUD 315,681 0.0334,679 BHP Billiton AUD 542,955 0.0531,884 BlueScope Steel AUD 283,255 0.0257,052 BWP Trust AUD 114,339 0.0113,034 Caltex Australia AUD 277,077 0.0235,427 Charter Hall Retail REIT AUD 96,970 0.01


134,468 Dexus AUD 857,307 0.07619,320 Fairfax Media AUD 458,160 0.04121,554 Genworth Mortgage Insurance Australia AUD 239,523 0.02240,765 Goodman Group AUD 1,274,318 0.11240,830 GPT Group AUD 775,811 0.06

52,385 Harvey Norman Holdings AUD 134,580 0.01164,503 HT&E AUD 292,069 0.02

63,807 Investa Office Fund AUD 188,383 0.0210,270 Lend Lease Group AUD 115,002 0.01

5,384 Macquarie Group AUD 320,449 0.03626,328 Mirvac Group AUD 897,203 0.08

19,772 Newcrest Mining AUD 268,075 0.0271,300 Oil Search AUD 327,028 0.0349,127 Origin Energy AUD 226,650 0.0297,020 Qantas Airways AUD 373,221 0.03

711,554 Scentre Group AUD 1,938,081 0.1675,665 Shopping Centres Australasia Property

Group AUD 111,442 0.01128,912 South32 AUD 232,347 0.02310,950 Stockland AUD 915,955 0.08

84,013 Syrah Resources AUD 156,508 0.01337,920 Vicinity Centres AUD 584,058 0.05255,839 Westfield AUD 1,381,630 0.12


16,016,498 1.34Austria

701 ams CHF 39,925 0.0014,027 BUWOG EUR 352,839 0.03

110,112 IMMOFINANZ EUR 220,334 0.0214,375 Lenzing EUR 2,255,442 0.19

416 Mayr Melnhof Karton EUR 47,683 0.004,297 Porr EUR 118,738 0.01

3,034,961 0.25Bangladesh101,377 BRAC Bank BDT 88,999 0.01275,055 Square Pharmaceuticals BDT 868,051 0.07

957,050 0.08Belgium

421 Barco EUR 37,825 0.002,500 Cofinimmo EUR 269,121 0.02

18,029 D’ieteren EUR 737,736 0.0613,666 KBC Group EUR 907,575 0.0812,112 Solvay EUR 1,423,106 0.1217,672 UCB EUR 1,064,381 0.09

982 Umicore EUR 59,837 0.01

4,499,581 0.38Bermuda

2,282 Assured Guaranty USD 83,493 0.01580 Axis Capital Holdings USD 32,853 0.00

12,121 Maiden Holdings USD 117,966 0.015,564 Marvell Technology Group USD 80,591 0.011,147 Validus Holdings USD 52,277 0.00

367,180 0.03Brazil

0 Banco Bradesco BRL 1 0.0052,331 Banco do Brasil BRL 371,129 0.0331,127 Banco do Estado do Rio Grande do Sul –

Pref – BRL 108,233 0.0157,874 Banco Santander Brasil – ADR – USD 382,090 0.03

115,005 BR Malls Participacoes BRL 363,678 0.0314,978 Braskem – Pref – BRL 135,551 0.0110,984 BTG Pactual Group BRL 43,599 0.0030,272 Cia de Saneamento Basico do Estado de


3,520 Cia Paranaense de Energia – ADR – USD 22,654 0.00


173






Currency Market

Value

% of

Net

Assets


3,952 Gafisa BRL 11,316 0.009,809 Iguatemi Empresa de Shopping Centers BRL 85,446 0.01

16,320 Itau Unibanco Holding – ADR – USD 158,110 0.01161,345 JBS BRL 278,804 0.02


190,571 Metalurgica Gerdau – Pref – BRL 250,636 0.0233,408 MRV Engenharia e Participacoes BRL 119,526 0.0112,488 Multiplan Empreendimentos Imobiliarios BRL 215,862 0.0222,585 Petroleo Brasileiro – ADR – USD 158,214 0.0142,296 Petroleo Brasileiro – Pref – BRL 138,454 0.0116,483 Sao Martinho BRL 75,022 0.01

4,296 TIM Participacoes – ADR – USD 55,742 0.0115,482 Transmissora Alianca de Energia Eletrica BRL 90,299 0.0118,801 Vale – ADR – USD 144,239 0.0123,758 Vale – Pref – BRL 169,182 0.02

3,811,652 0.32Canada


20,025 Artis Real Estate Investment Trust CAD 177,097 0.014,947 Boardwalk Real Estate Investment Trust CAD 158,812 0.01

18,955 Canadian Apartment Properties REIT CAD 429,596 0.0410,315 Canadian Real Estate Investment Trust CAD 319,433 0.0325,229 Chartwell Retirement Residences CAD 263,826 0.0223,128 Cominar Real Estate Investment Trust CAD 198,458 0.0215,440 Dream Office Real Estate Investment

Trust CAD 203,783 0.0219,418 First Capital Realty CAD 259,043 0.02

5,473 Granite Real Estate Investment CAD 189,517 0.0139,321 H&R Real Estate Investment Trust CAD 584,550 0.0529,710 Pure Industrial Real Estate Trust CAD 137,998 0.0141,981 RioCan Real Estate Investment Trust CAD 682,190 0.0614,104 Smart Real Estate Investment Trust CAD 305,831 0.02


4,917 CAP CLP 34,428 0.00

1,602,193 0.13China220,653 Agile Property Holdings HKD 177,194 0.02

2,077,421 Agricultural Bank of China – H – HKD 860,960 0.07339,714 Air China – H – HKD 307,144 0.03

31,956 Alibaba Group Holding – ADR – USD 3,947,717 0.33439,676 Aluminum of China – H – HKD 197,526 0.02


168,895 BAIC Motor – H – HKD 143,597 0.012,315 Baidu – ADR – USD 363,023 0.03

1,095,915 Bank of China – H – HKD 471,420 0.0444,868 Baozu – ADR – USD 872,146 0.0786,993 BYD Electronic International HKD 151,248 0.01

1,672 Changyou.com – ADR – USD 56,835 0.00567,076 China Cinda Asset Management – H – HKD 185,339 0.02295,629 China CITIC Bank – H – HKD 158,711 0.01

64,739 China Communications Construction – H– HKD 73,147 0.01

1,361,751 China Construction Bank – H – HKD 925,306 0.08108,708 China Evergrande Group HKD 171,176 0.01432,629 China Forestry Holdings EUR 0 0.00281,279 China Huarong Asset Management – H – HKD 95,722 0.01




155,194 China Southern Airlines – H – HKD 115,041 0.01634,041 China Telecom – H – HKD 264,194 0.02


69,291 China ZhengTong Auto ServicesHoldings HKD 48,640 0.00

72,697 Chinammunications Services – H – HKD 36,742 0.00






Currency Market

Value

% of

Net

Assets

SHARES EUR %China (continued)744,155 Chongqing Rural Commercial Bank – H

– HKD 440,460 0.04556,061 CIFI Holdings Group HKD 216,712 0.02

88,612 Country Garden Holdings HKD 90,068 0.01183,158 Dongfeng Motor Group – H – HKD 189,872 0.02142,292 Fufeng Group HKD 67,121 0.01135,548 Geely Automobile Holdings HKD 256,370 0.02

0 Green Seal Holding TWD 0 0.0085,879 Guangshen Railway – H – HKD 37,327 0.00

379,669 Guangzhou Automobile Group – H – HKD 584,195 0.05159,717 Guangzhou R&F Properties – H – HKD 217,772 0.02

93,872 Harbin Electric – H – HKD 41,540 0.00249,246 Hua Hong Semiconductor HKD 296,733 0.02366,556 Huaneng Power International – H – HKD 223,137 0.02

0 Huaneng Renewables – H – HKD 0 0.001,528,425 Industrial & Commercial Bank of China –

H – HKD 904,663 0.087,648 JA Solar Holdings – ADR – USD 42,579 0.00

13,874 JD.com – ADR – USD 477,077 0.0464,153 Jiangxi Copper – H – HKD 92,371 0.0142,233 Kaisa Group Holdings HKD 11,716 0.00

205,379 KWG Property Holding HKD 120,639 0.01334,135 Li Ning HKD 222,916 0.02168,457 Logan Property Holdings HKD 97,438 0.01105,741 Lonking Holdings HKD 29,097 0.00

63,710 Luthai Textile – B – HKD 61,322 0.01668 Momo – ADR – USD 21,635 0.00

3,996 NetEase – ADR – USD 1,053,387 0.0963,174 New China Life Insurance – H – HKD 281,682 0.02

5,386 New Oriental Education & TechnologyGroup – ADR – USD 332,901 0.03

437,525 PetroChina – H – HKD 234,889 0.02248,135 PICC Property & Casualty – H – HKD 363,411 0.03106,618 Powerlong Real Estate Holdings HKD 40,235 0.00

0 Semiconductor ManufacturingInternational HKD 0 0.00

64,464 Shanghai Haohai Biological Technology –H – HKD 306,983 0.03

125,281 Shanghai Pharmaceuticals Holding – H – HKD 327,144 0.03169,859 Shenzhou International Group Holdings HKD 978,674 0.08242,806 Shui On Land HKD 51,541 0.00

1,025 SINA USD 76,364 0.0142,418 Sino-Ocean Group Holding HKD 18,199 0.0048,150 Sinopec Shanghai Petrochemical – H – HKD 22,605 0.00

173,192 Sinotruk Hong Kong HKD 110,292 0.0146,227 Tencent Holdings HKD 1,449,578 0.1291,175 Tianneng Power International HKD 65,639 0.01

198,684 Times Property Holdings HKD 108,897 0.0136 Weibo – ADR – USD 2,083 0.00

14,802 Weiqiao Textile – H – HKD 9,277 0.0038,574 Yanzhou Coal Mining – H – HKD 30,327 0.00

8,266 Yirendai – ADR – USD 181,192 0.02211,482 Yuzhou Properties HKD 109,735 0.01

5,806 YY – ADR – USD 295,419 0.0291,006 Zhongsheng Group Holdings HKD 148,821 0.01

24,347,070 2.03Colombia


110,540 0.01Denmark

405 ALK-Abello DKK 52,964 0.0029,834 Danske Bank DKK 1,004,752 0.0827,624 Dfds DKK 1,288,855 0.1112,676 DSV DKK 681,937 0.06

1,115 FLSmidth & Co DKK 61,694 0.012,921 H Lundbeck DKK 143,551 0.01

775 Jyske Bank DKK 39,311 0.00763 NKT DKK 53,592 0.00

14,751 Novo Nordisk – ADR – USD 554,720 0.0522,771 Novo Nordisk – B – DKK 853,881 0.07

8,079 Pandora DKK 660,143 0.06311 Rockwool International – B – DKK 59,830 0.00

10,072 Spar Nord Bank DKK 115,688 0.01304,003 TDC DKK 1,548,018 0.13

20,361 Vestas Wind Systems DKK 1,645,888 0.14

8,764,824 0.73


174






Currency Market

Value

% of

Net

Assets

SHARES EUR %Finland

1,088 Cargotec – B – EUR 60,417 0.0015,449 Kone – B – EUR 688,086 0.06

202,060 Nokia EUR 1,082,032 0.096,353 Nokian Renkaat EUR 230,250 0.025,444 Sampo – A – EUR 244,259 0.02

65,272 UPM-Kymmene EUR 1,629,182 0.142,617 Valmet EUR 44,520 0.005,561 YIT EUR 40,707 0.00

4,019,453 0.33France

47,529 Alstom EUR 1,454,870 0.1215,172 Altran Technologies EUR 216,504 0.0229,586 Amundi EUR 1,874,246 0.1620,207 Arkema EUR 1,887,893 0.1612,677 Atos EUR 1,557,992 0.13

1,035 BioMerieux EUR 196,152 0.0285,361 BNP Paribas EUR 5,382,891 0.4540,099 Bouygues EUR 1,480,454 0.1215,386 Capgemini EUR 1,392,082 0.1229,943 Cie de Saint-Gobain EUR 1,400,710 0.1220,696 Cie Generale des Etablissements


1,337 Criteo – ADR – USD 57,517 0.0036,150 Danone – ADR – USD 476,066 0.0412,671 Elior Group EUR 322,359 0.0318,042 Elis EUR 361,923 0.03

4,266 Europcar Groupe EUR 54,653 0.0080,281 Faurecia EUR 3,570,090 0.30

4,368 Fonciere Des Regions EUR 354,728 0.034,533 Gecina EUR 622,623 0.054,582 ICADE EUR 336,791 0.03

28,138 Klepierre EUR 1,009,715 0.0829,835 Legrand EUR 1,827,402 0.15

2,286 L’Oreal EUR 416,870 0.031,534 Nexans EUR 73,485 0.011,149 Nexity EUR 58,471 0.014,793 Pernod Ricard EUR 561,935 0.05

28,110 Publicis Groupe EUR 1,835,856 0.1519,979 Renault EUR 1,583,361 0.13

0 Rubis EUR 0 0.0049,754 Sanofi EUR 4,167,402 0.3548,351 Schneider Electric EUR 3,252,575 0.2785,517 Societe Generale EUR 4,028,721 0.34

8,828 Sodexo EUR 999,305 0.081,177 Tarkett EUR 47,885 0.00


145,377 TOTAL EUR 6,292,627 0.5311,012 Unibail-Rodamco (traded in France) EUR 2,429,859 0.20

1,423 Unibail-Rodamco (traded in Netherlands) EUR 314,078 0.0317,128 Valeo EUR 1,010,402 0.08

107,081 Vallourec EUR 569,561 0.0511,929 Vinci EUR 891,454 0.07

4,962 Worldline EUR 148,867 0.01

58,131,555 4.85Germany

28,659 Aareal Bank EUR 994,758 0.087,606 adidas EUR 1,275,902 0.114,599 Adidas – ADR – USD 387,003 0.03

18,156 Allianz EUR 3,130,129 0.2617,717 alstria office REIT EUR 209,675 0.02

3,775 Aurubis EUR 259,555 0.0223,298 BASF EUR 1,889,267 0.1648,192 Bayer EUR 5,455,360 0.4614,663 Bayerische Motoren Werke EUR 1,191,800 0.10

4,794 Beiersdorf EUR 441,233 0.043,486 Brenntag EUR 176,649 0.01

837 Carl Zeiss Meditec EUR 38,032 0.0013,458 Continental EUR 2,542,994 0.21

1,041 CTS Eventim & Co EUR 40,300 0.0020,082 Deutsche Boerse EUR 1,855,985 0.15

6,816 Deutsche Euroshop EUR 235,207 0.0248,786 Deutsche Post EUR 1,601,169 0.1389,375 Deutsche Telekom EUR 1,404,973 0.1244,921 Deutsche Wohnen EUR 1,504,397 0.1314,970 Fresenius & Co EUR 1,123,633 0.09






Currency Market

Value

% of

Net

Assets


2,044 FUCHS PETROLUB – Pref – EUR 97,433 0.0120,187 Infineon Technologies EUR 373,151 0.03

7,590 KION Group EUR 507,940 0.044,982 Kloeckner & Co EUR 45,937 0.007,553 LEG Immobilien EUR 621,683 0.059,162 Merck EUR 968,916 0.08

11,612 MTU Aero Engines EUR 1,434,031 0.128,495 Muenchener


15,481 ProSiebenSat.1 Media EUR 567,227 0.05103,255 RWE EUR 1,801,291 0.15

75,255 Salzgitter EUR 2,687,737 0.2273,948 Schaeffler – Pref – EUR 927,311 0.0824,351 Siemens EUR 2,930,626 0.24

1,114 Stroeer EUR 58,414 0.0116,605 TAG Immobilien EUR 228,573 0.02

1,324 Uniper EUR 21,753 0.008,712 United Internet EUR 419,419 0.04

10,587 Volkswagen – Pref – EUR 1,411,794 0.1258,258 Vonovia EUR 2,025,325 0.17

442 Wacker Chemie EUR 42,046 0.0016,101 Wirecard EUR 897,125 0.08

45,325,608 3.78Greece

2,574 JUMBO EUR 41,174 0.001,123 Motor Oil Hellas Corinth Refineries EUR 21,420 0.00


99,208 AIA Group HKD 635,674 0.05116,980 BOC Hong Kong Holdings HKD 490,721 0.04

52,608 Cheung Kong Property Holdings HKD 361,312 0.03416,651 China Agri-Industries Holdings HKD 151,618 0.01158,310 China Everbright HKD 302,267 0.02128,535 China Resources Cement Holdings HKD 56,012 0.00191,499 China Resources Land HKD 489,304 0.04713,082 China Unicom Hong Kong HKD 929,029 0.08103,083 Chow Tai Fook Jewellery Group HKD 95,747 0.01


120,725 Giordano International HKD 60,338 0.0095,828 Haier Electronics Group HKD 218,484 0.0290,785 Hang Lung Group HKD 329,343 0.03

302,771 Hang Lung Properties HKD 663,104 0.06151,025 Henderson Land Development HKD 738,702 0.06161,511 Hongkong Land Holdings USD 1,042,237 0.09

84,037 Hysan Development HKD 351,586 0.0360,895 K Wah International Holdings HKD 32,419 0.00

123,557 Kingboard Chemical Holdings HKD 431,579 0.04112,822 Kingboard Laminates Holdings HKD 119,365 0.01291,187 Link REIT HKD 1,942,630 0.16

26,158 Luk Fook Holdings International HKD 78,442 0.0119,570 Melco Resorts & Entertainment – ADR – USD 385,202 0.03

108,371 Nine Dragons Paper Holdings HKD 126,584 0.01134,472 Peace Mark Holdings HKD 0 0.00135,851 Shimao Property Holdings HKD 203,846 0.02424,780 Sino Land HKD 610,669 0.05193,123 Skyworth Digital Holdings HKD 105,198 0.01

28,458 Sun Art Retail Group HKD 19,881 0.00153,292 Swire Properties HKD 443,331 0.04372,349 WH Group HKD 329,540 0.03212,566 Wharf Holdings HKD 1,544,652 0.13147,107 Wheelock & Co HKD 973,148 0.08


14,821,410 1.24Hungary

1,379 MOL Hungarian Oil & Gas HUF 94,661 0.01

94,661 0.01India

9,440 Adani Enterprises INR 16,979 0.0029,488 Balrampur Chini Mills INR 60,398 0.0139,944 Bharat Petroleum INR 346,438 0.0315,895 Chennai Petroleum INR 76,312 0.0123,575 Emami INR 343,939 0.0336,412 HDFC Bank INR 815,964 0.07


175






Currency Market

Value

% of

Net

Assets

SHARES EUR %India (continued)

2,735 Hero MotoCorp INR 137,338 0.0166,178 Hindalco Industries INR 171,409 0.0129,029 Hindustan Petroleum INR 200,953 0.0224,940 ICICI Bank INR 98,156 0.0140,507 Indian Oil INR 211,647 0.02

9,612 IndusInd Bank INR 192,834 0.0293,780 ITC INR 411,707 0.0332,271 Lupin INR 463,929 0.0425,471 Mahindra & Mahindra Financial Services INR 119,179 0.01

124,613 NTPC INR 268,675 0.0296,445 Oil & Natural Gas INR 205,783 0.0224,705 Petronet LNG INR 144,783 0.01

140,355 Power Finance INR 233,601 0.0213,294 Power Grid of India INR 37,968 0.00

0 Punjab National Bank INR 0 0.005,626 Rajesh Exports INR 52,618 0.00

0 Reliance Infrastructure INR 0 0.00120,655 Rural Electrification INR 281,417 0.02

57,723 State Bank of India INR 214,262 0.0215,053 Sun Pharmaceutical Industries INR 113,465 0.0117,568 Tata Motors INR 103,075 0.0149,753 Tata Motors – A – INR 177,692 0.01

5,688 Tata Steel INR 42,111 0.0018,170 UPL INR 207,129 0.02


6,348,811 0.53Indonesia

8,780,973 Ace Hardware Indonesia IDR 612,330 0.051,028,148 Adaro Energy IDR 106,868 0.011,476,461 Astra International IDR 866,896 0.07

955,006 Bank Negara Indonesia Persero IDR 414,655 0.031,303,874 Bank Rakyat Indonesia Persero IDR 1,308,105 0.11

888,293 Cikarang Listrindo IDR 70,125 0.01516,843 Delta Dunia Makmur IDR 28,901 0.00158,874 Gajah Tunggal IDR 11,811 0.00


733,254 Indofood CBP Sukses Makmur IDR 424,497 0.043,301,162 Mayora Indah IDR 479,950 0.04

716,945 Perusahaan Gas Negara Persero IDR 106,122 0.0120,278 United Tractors IDR 36,619 0.00

1,041,935 XL Axiata IDR 233,739 0.02

4,815,380 0.40Ireland


1,266 ICON USD 108,500 0.0120,792 Medtronic USD 1,617,898 0.14



4,419,078 0.37Isle Of Man


92,960 0.01Italy

11,987 Anima Holding EUR 75,218 0.0166,256 Azimut Holding EUR 1,162,797 0.10

9,740 BPER Banca EUR 42,523 0.001,515 Cerved Information Solutions EUR 14,196 0.00

13,221 Danieli & C Officine Meccaniche EUR 282,270 0.0253,002 Danieli & C Officine Meccaniche – RSP

– EUR 831,071 0.071,345 De’ Longhi EUR 36,895 0.002,471 DiaSorin EUR 166,174 0.01

397,837 Enel EUR 1,867,448 0.16250,929 Eni EUR 3,302,228 0.28

14,264 FinecoBank Banca Fineco EUR 98,281 0.01596,678 Intesa Sanpaolo EUR 1,656,377 0.14

42,425 OVS EUR 264,309 0.025,747 Safilo Group EUR 37,241 0.00

62,840 UniCredit EUR 1,027,441 0.092,094 Yoox Net-A-Porter Group EUR 50,717 0.00

10,915,186 0.91






Currency Market

Value

% of

Net

Assets

SHARES EUR %Japan



8,921 Ariake Japan JPY 545,038 0.0546,579 CYBERDYNE JPY 543,376 0.0538,838 Daiken Medical JPY 243,356 0.0284,380 Daiwa House Industry JPY 2,527,069 0.21

195 Daiwa House REIT Investment JPY 406,897 0.0352 Daiwa Office Investment JPY 229,331 0.02

1,386 FANUC JPY 234,205 0.0264 Frontier Real Estate Investment JPY 230,733 0.02

351 GLP J-REIT JPY 331,273 0.0312,105 Gunosy JPY 219,811 0.02

9,540 HEALIOS JPY 114,565 0.0175,513 Hulic JPY 675,868 0.06

125 Hulic REIT JPY 171,790 0.0144 Industrial & Infrastructure Fund

Investment JPY 176,983 0.01482 Invincible Investment JPY 181,717 0.02151 Japan Excellent JPY 147,305 0.01480 Japan Hotel REIT Investment JPY 297,768 0.02127 Japan Logistics Fund JPY 231,916 0.02119 Japan Prime Realty Investment JPY 361,689 0.03176 Japan Real Estate Investment JPY 769,265 0.06237 Japan Rental Housing Investments JPY 153,750 0.01346 Japan Retail Fund Investment JPY 560,174 0.05

19,714 Kakaku.com JPY 248,128 0.0257 Kenedix Office Investment JPY 267,090 0.0261 Kenedix Retail REIT JPY 113,065 0.01


34,547 M3 JPY 834,340 0.07174,839 Mitsubishi Estate JPY 2,856,182 0.24113,421 Mitsubishi UFJ Financial Group – ADR – USD 671,249 0.06123,076 Mitsui Fudosan JPY 2,574,328 0.21


4,040 Nidec JPY 362,857 0.0364 Nippon Accommodations Fund JPY 232,843 0.02

180 Nippon Building Fund JPY 806,390 0.07210 Nippon Prologis REIT JPY 391,909 0.03

5,603 Nitori Holdings JPY 657,569 0.067,299 Nitto Denko JPY 526,244 0.04

512 Nomura Real Estate Master Fund JPY 614,309 0.0516,470 NTT Urban Development JPY 139,316 0.0152,683 ORIX JPY 715,307 0.06

339 Orix JREIT JPY 439,135 0.0429,106 PeptiDream JPY 807,415 0.0722,309 Pigeon JPY 708,506 0.06

147 Premier Investment JPY 126,136 0.013,539 Rinnai JPY 289,113 0.023,642 Seven & i Holdings JPY 131,523 0.019,761 SoftBank Group JPY 692,893 0.064,733 Sosei Group JPY 456,123 0.04

33,839 Start Today JPY 730,109 0.0660,344 Sumitomo Realty & Development JPY 1,631,602 0.14

5,057 Sysmex JPY 264,805 0.0217,384 TechnoPro Holdings JPY 613,144 0.0527,604 Tokyo Tatemono JPY 317,064 0.03


30,848,614 2.57Jordan

17,505 Hikma Pharmaceuticals GBP 293,063 0.02


63,268 ArcelorMittal EUR 1,256,509 0.1114,585 Grand City Properties EUR 255,890 0.02

1,512,399 0.13Malaysia394,889 AirAsia MYR 262,132 0.02270,415 CIMB Group Holdings MYR 363,426 0.03

41,892 Malayan Banking MYR 82,398 0.01125,992 Malaysia Building Society MYR 34,226 0.00

742,182 0.06


176






Currency Market

Value

% of

Net

Assets

SHARES EUR %Malta

6,385 Brait ZAR 25,859 0.00

25,859 0.00Mexico





985 ASM International EUR 50,237 0.008,600 ASML Holding EUR 981,271 0.08

25,799 Euronext EUR 1,172,556 0.104,204 Fugro – CVA – EUR 54,651 0.009,653 Heineken EUR 821,737 0.07



435,948 Koninklijke KPN EUR 1,221,090 0.1084,558 Koninklijke Philips (traded in

Netherlands) EUR 2,629,325 0.2245,710 Koninklijke Philips (traded in

United States) USD 1,435,570 0.1247,206 Philips Lighting EUR 1,525,711 0.1342,605 Randstad Holding EUR 2,177,988 0.1862,263 Royal Dutch Shell – A – (traded in


Kingdom) GBP 1,255,077 0.101,081 TKH Group EUR 52,595 0.005,733 Van Lanschot – CVA – EUR 139,308 0.014,763 Wereldhave EUR 204,495 0.02

41,434 Wolters Kluwer EUR 1,535,735 0.13

22,176,153 1.85New Zealand


253,591 0.02Norway162,575 DNB NOK 2,416,333 0.20

27,086 Petroleum Geo-Services NOK 41,108 0.0135,174 Statoil NOK 509,542 0.04

2,966,983 0.25Philippines

1,852,008 Emperador PHP 242,635 0.0274,029 Jollibee Foods PHP 262,403 0.02

185,764 Metropolitan Bank & Trust PHP 282,428 0.02117,155 Puregold Price Club PHP 90,687 0.01

1,328,280 SM Prime Holdings PHP 761,626 0.062,979,698 Vista Land & Lifescapes PHP 300,806 0.03

1,940,585 0.16Poland



11,026 NOS SGPS EUR 58,595 0.00

58,595 0.00Romania


332,150 0.03Russia



Kingdom) USD 267,588 0.0221,633 Lukoil – ADR – (traded in United States) USD 925,399 0.08

4,268 Novolipetsk Steel – GDR – USD 72,450 0.002,530 Ros Agro – GDR – USD 25,838 0.002,969 Severstal – GDR – USD 34,156 0.005,892 Tatneft – ADR – USD 194,749 0.02

2,071,333 0.17






Currency Market

Value

% of

Net

Assets

SHARES EUR %Singapore328,482 Ascendas Real Estate Investment Trust SGD 545,948 0.05351,516 CapitaLand SGD 783,451 0.06293,548 CapitaLand Commercial Trust SGD 310,304 0.03369,305 CapitaLand Mall Trust SGD 464,463 0.04

66,003 City Developments SGD 450,986 0.0428,423 DBS Group Holdings SGD 375,386 0.03

367,771 Global Logistic Properties SGD 669,796 0.06182,275 Mapletree Commercial Trust SGD 185,135 0.01320,723 Suntec Real Estate Investment Trust SGD 381,918 0.03


25,831 Barloworld ZAR 188,060 0.022,386 Bid ZAR 47,774 0.00



699,083 Redefine Properties ZAR 492,126 0.0435,432 Resilient REIT ZAR 288,639 0.0342,228 Sappi ZAR 246,097 0.0232,356 Standard Bank Group ZAR 311,863 0.03



275 BGF retail KRW 21,316 0.006,449 DMS KRW 46,700 0.00

10,800 Dongbu HiTek KRW 186,220 0.024,362 Dongbu Insurance KRW 227,304 0.021,178 Dongkuk Steel Mill KRW 13,219 0.005,133 Doosan Bobcat KRW 140,037 0.012,585 E-MART KRW 464,436 0.04

35,973 Hana Financial Group KRW 1,247,387 0.117,950 Hankook Tire KRW 387,445 0.03


Korea) KRW 15,586 0.005,024 JB Financial Group KRW 24,483 0.00

30,292 KB Financial Group KRW 1,339,375 0.114,366 Korea Aerospace Industries KRW 190,705 0.02

560 Korea Gas KRW 22,841 0.00648 Korea Petrochemical Ind KRW 125,579 0.01

2,873 KT KRW 71,770 0.0111,108 KT – ADR – USD 162,061 0.01

588 KT&G KRW 52,753 0.017,043 Kumho Petrochemical KRW 396,700 0.038,179 LG Electronics KRW 502,647 0.042,008 LG Innotek KRW 253,878 0.021,168 LG Uplus KRW 13,968 0.00


5,509 POSCO KRW 1,211,498 0.102,215 Samsung Electronics KRW 4,034,739 0.34

708 Samsung Electronics – Pref – KRW 1,010,592 0.092,270 SD Biotechnologies KRW 22,355 0.00

678 Shinhan Financial Group KRW 25,620 0.00157 SK Holdings KRW 33,430 0.00

20,836 SK Hynix KRW 1,076,182 0.091,447 SK Innovation KRW 175,776 0.025,599 S-Oil KRW 406,734 0.04

28,171 Woori Bank KRW 398,289 0.03

14,485,674 1.21Spain

44,939 ACS Actividades de Construccion yServicios EUR 1,520,077 0.13

5,217 Aena EUR 891,418 0.0752,182 Amadeus IT Group EUR 2,731,720 0.23

138,618 Banco Bilbao Vizcaya Argentaria – ADR– USD 1,016,041 0.08

303,870 Banco Santander EUR 1,760,016 0.15199,107 Bankia EUR 842,619 0.07



1,042 Grupo Catalana Occidente EUR 38,384 0.0048,049 Indra Sistemas EUR 607,103 0.05


177






Currency Market

Value

% of

Net

Assets


28,759 Industria de Diseno Textil EUR 966,575 0.0832,295 Inmobiliaria Colonial EUR 246,348 0.02

3,487 Melia Hotels International EUR 45,641 0.0041,168 Merlin Properties Socimi EUR 455,314 0.0499,869 Repsol EUR 1,338,245 0.11

4,965 Viscofan EUR 257,205 0.02

14,929,127 1.24Sri Lanka

1,022,954 Lanka Orix Leasing LKR 658,872 0.06679,340 Sampath Bank LKR 1,110,954 0.09

1,769,826 0.15Sweden

9,217 Ahlsell SEK 55,331 0.0034,498 Assa Abloy – B – SEK 663,775 0.0617,439 Atlas Copco – A – SEK 585,531 0.0532,520 Castellum SEK 418,166 0.0446,797 Cloetta – B – SEK 168,798 0.01

6,883 Dometic Group SEK 52,370 0.0017,768 Fabege SEK 299,202 0.0311,455 Fastighets Balder – B – SEK 242,909 0.0213,515 Hufvudstaden – A – SEK 196,262 0.0253,137 Intrum Justitia SEK 1,579,747 0.1318,812 Lundin Petroleum SEK 316,994 0.03

3,914 Nobia SEK 34,585 0.00130,399 Sandvik SEK 1,796,033 0.15

29,436 Swedbank – A – SEK 628,188 0.0559,725 Telefonaktiebolaget LM Ericsson – B – SEK 374,055 0.03

2,416 Thule Group SEK 39,712 0.0021,504 Trelleborg – B – SEK 429,858 0.04


1,290 Aryzta CHF 37,234 0.0033 Belimo Holding CHF 126,546 0.01

7,062 Chubb USD 900,174 0.085,369 Cie Financiere Richemont CHF 388,335 0.03

110,372 Credit Suisse Group CHF 1,400,558 0.12586 Daetwyler Holding CHF 87,308 0.01

4,265 Dufry CHF 613,383 0.0526 Forbo Holding CHF 36,883 0.00

3,904 GAM Holding CHF 45,932 0.001,159 Geberit CHF 474,415 0.04

253 Inficon Holding CHF 109,371 0.0116,397 Julius Baer Group CHF 757,382 0.06

2,416 Kuehne & Nagel International CHF 353,858 0.0327,424 LafargeHolcim CHF 1,378,442 0.12

75 LEM Holding CHF 84,654 0.0155,723 Logitech International CHF 1,798,351 0.1520,583 Novartis CHF 1,503,775 0.1316,168 Novartis – ADR – USD 1,183,221 0.10

6,166 OC Oerlikon CHF 71,134 0.013,842 Partners Group Holding CHF 2,091,353 0.174,782 PSP Swiss Property CHF 392,293 0.03

20,062 Roche Holding CHF 4,485,323 0.371,010 Schindler Holding CHF 187,569 0.02

424 SFS Group CHF 42,246 0.009,169 Swiss Prime Site CHF 731,145 0.061,278 Tecan Group CHF 210,979 0.021,473 Temenos Group CHF 115,446 0.01

159,824 UBS Group CHF 2,376,339 0.2016,337 Wolseley GBP 876,901 0.07

22,860,550 1.91Taiwan169,501 Advanced Semiconductor Engineering TWD 190,774 0.02

29,896 Airtac International Group TWD 309,766 0.03747,267 AU Optronics TWD 299,376 0.03

1,686 Catcher Technology TWD 17,663 0.00263,610 Cathay Financial Holding TWD 380,651 0.03



82,451 CTCI TWD 123,099 0.0185,784 Delta Electronics TWD 411,666 0.0382,273 E Ink Holdings TWD 67,107 0.0138,304 Formosa Chemicals & Fibre TWD 105,433 0.01

8,227 Formosa Plastics TWD 21,982 0.00






Currency Market

Value

% of

Net

Assets

SHARES EUR %Taiwan (continued)408,574 Fubon Financial Holding TWD 570,546 0.05

45,992 General Interface Solution Holding TWD 298,257 0.02179,449 Grand Pacific Petrochemical TWD 109,649 0.01

61,840 Hannstar Board TWD 29,141 0.00253,970 Hon Hai Precision Industry TWD 856,434 0.07722,248 Innolux TWD 330,986 0.03

6,472 Largan Precision TWD 904,702 0.08119,694 Lite-On Technology TWD 172,492 0.01

47,003 Macronix International TWD 22,624 0.0040,845 MediaTek TWD 306,670 0.0321,189 Merry Electronics TWD 115,427 0.01

0 Micro-Star International TWD 0 0.00155,240 Nanya Technology TWD 245,194 0.02152,973 Pegatron TWD 420,178 0.04



952,140 Shin Kong Financial Holding TWD 222,286 0.0213,565 St Shine Optical TWD 248,661 0.0269,267 Taiwan Semiconductor Manufacturing TWD 416,257 0.0323,259 Taiwan Semiconductor Manufacturing –




10,065,605 0.84Thailand

2,306 Bangkok Bank THB 11,727 0.00337,231 Charoen Pokphand Foods – NVDR – THB 215,859 0.02445,123 Esso Thailand – NVDR – THB 116,036 0.01

34,409 Kasikornbank – NVDR – THB 176,286 0.0225,397 Kiatnakin Bank – NVDR – THB 46,868 0.0058,063 Krung Thai Bank – NVDR – THB 28,174 0.00

398,063 Major Cineplex Group THB 346,749 0.0367,922 PTT – NVDR – THB 648,641 0.0656,249 PTT Exploration & Production – NVDR

– THB 125,217 0.01222,595 PTT Global Chemical – NVDR – THB 393,547 0.03254,102 Sansiri – NVDR – THB 14,822 0.00

1,809 Siam Cement THB 23,438 0.00438 Siam Cement – NVDR – THB 5,697 0.00

125,513 Star Petroleum Refining – NVDR – THB 47,297 0.0150,706 Supalai – NVDR – THB 34,027 0.00


2,484,812 0.21Turkey

17,527 Haci Omer Sabanci Holding TRY 47,684 0.0023,395 KOC Holding TRY 94,217 0.0118,770 Soda Sanayii TRY 30,647 0.00

9,121 Tekfen Holding TRY 19,796 0.0023,093 Trakya Cam Sanayii TRY 22,244 0.00

6,751 Tupras Turkiye Petrol Rafinerileri TRY 170,042 0.0193,854 Turkiye Garanti Bankasi TRY 228,700 0.0297,989 Turkiye Halk Bankasi TRY 320,725 0.03

147,233 Turkiye Is Bankasi – C – TRY 273,017 0.02106,454 Turkiye Vakiflar Bankasi – D – TRY 171,433 0.02171,149 Yapi ve Kredi Bankasi TRY 191,271 0.02


24,382 Abu Dhabi Commercial Bank AED 40,799 0.00230,196 Aldar Properties AED 126,385 0.01

89,948 DAMAC Properties Dubai AED 67,850 0.01174,730 Dubai Investments AED 86,757 0.01



6,228 Alfa Financial Software Holdings GBP 32,825 0.0075,047 Amec Foster Wheeler GBP 399,314 0.0310,126 Ashmore Group GBP 40,731 0.00

7,689 ASOS GBP 503,444 0.0473,864 Auto Trader Group GBP 319,666 0.03


178






Currency Market

Value

% of

Net

Assets

SHARES EUR %United Kingdom (continued)194,524 Aviva GBP 1,165,297 0.10356,925 Balfour Beatty GBP 1,099,974 0.09427,831 Barclays GBP 987,895 0.08

27,800 Berendsen GBP 389,424 0.03236,074 BP GBP 1,190,514 0.10

8,619 British American Tobacco GBP 513,798 0.04141,412 British Land GBP 975,168 0.08

5,168 Burford Capital GBP 53,033 0.0165,780 Capital & Counties Properties GBP 219,277 0.0234,483 Compass Group GBP 636,198 0.05

225,928 ConvaTec Group GBP 821,316 0.0715,147 Derwent London GBP 457,821 0.04

7,739 Diploma GBP 97,392 0.0140,223 Electrocomponents GBP 264,320 0.02

1,826 Ferroglobe USD 19,134 0.003,066 Galliford Try GBP 40,535 0.00

417,933 GKN GBP 1,551,680 0.13234,729 GlaxoSmithKline GBP 4,372,149 0.37

42,330 Great Portland Estates GBP 287,809 0.0218,740 Halma GBP 234,774 0.0295,050 Hammerson GBP 621,899 0.05

364,529 HSBC Holdings GBP 2,954,657 0.257,792 IG Group Holdings GBP 50,406 0.00

0 Imagination Technologies Group GBP 0 0.0048,556 Imperial Brands GBP 1,907,019 0.1689,114 Intu Properties GBP 273,109 0.0220,674 Jardine Lloyd Thompson Group GBP 282,540 0.0213,756 John Laing Group GBP 47,468 0.0032,463 Johnson Matthey GBP 1,061,465 0.09

6,844 Jupiter Fund Management GBP 39,360 0.0010,145 Kennedy Wilson Europe Real Estate GBP 128,252 0.01

364,641 Kingfisher GBP 1,248,753 0.10871,680 Ladbrokes Coral Group GBP 1,136,686 0.10

99,647 Land Securities Group GBP 1,149,608 0.10756,140 Legal & General Group GBP 2,224,356 0.19

1,128 LivaNova USD 60,518 0.0171,460 Merlin Entertainments GBP 391,053 0.0350,240 Micro Focus International GBP 1,299,415 0.11

118,056 National Grid GBP 1,279,715 0.1110,996 Pentair USD 641,498 0.0589,627 Persimmon GBP 2,288,498 0.19

104,074 Prudential GBP 2,087,281 0.1721,573 Reckitt Benckiser Group GBP 1,912,446 0.1652,714 RELX EUR 948,855 0.0868,071 Rentokil Initial GBP 211,875 0.02

300,774 Royal Bank of Scotland Group GBP 846,771 0.0772,057 RSA Insurance Group GBP 505,105 0.0422,076 Saga GBP 52,647 0.01

110,015 Sage Group GBP 862,022 0.0718,465 Schroders GBP 652,758 0.06

117,725 Segro GBP 655,890 0.0622,948 Shaftesbury GBP 254,164 0.02

373,036 SIG GBP 631,317 0.0546,071 Smith & Nephew GBP 695,220 0.0676,154 Smiths Group GBP 1,385,075 0.12

9,563 Spectris GBP 274,777 0.025,185 Spirax-Sarco Engineering GBP 315,918 0.03


15,764 SuperGroup GBP 268,405 0.0253,679 TechnipFMC EUR 1,274,616 0.11

879,569 Tesco GBP 1,690,910 0.147,627 TP ICAP GBP 40,588 0.00

97,221 Travis Perkins GBP 1,611,014 0.14151,721 Tritax Big Box REIT GBP 252,621 0.02

31,441 UBM GBP 247,072 0.0218,854 Unilever USD 913,660 0.0854,104 Unilever – CVA – EUR 2,614,327 0.2229,870 UNITE Group GBP 220,782 0.02

1,368,727 Vodafone Group GBP 3,394,320 0.2810,051 WH Smith GBP 196,323 0.02

9,547 Willis Towers Watson USD 1,217,574 0.10225,659 Worldpay Group GBP 809,029 0.07221,771 WPP GBP 4,076,486 0.34


16,014 AbbVie USD 1,018,081 0.09






Currency Market

Value

% of

Net

Assets


1,092 ABM Industries USD 39,766 0.0019,298 Acadia Healthcare USD 835,514 0.0711,286 Acadia Realty Trust USD 275,076 0.02

4,624 ACCO Brands USD 47,233 0.0011,365 Adobe Systems USD 1,409,391 0.12

1,901 AECOM USD 53,882 0.001,533 Aegion USD 29,410 0.00

146,836 AES USD 1,430,315 0.122,029 AGNC Investment USD 37,881 0.004,313 Agree Realty USD 173,441 0.015,139 Air Lease USD 168,334 0.01

11,944 Alexandria Real Estate Equities USD 1,261,584 0.11107 Alleghany USD 55,741 0.01

3,649 Ally Financial USD 66,861 0.01580 Alphabet – A – USD 472,963 0.04582 Alphabet – C – USD 463,595 0.04

1,640 Amazon.com USD 1,392,279 0.121,125 AMC Networks – A – USD 52,696 0.001,575 Amdocs USD 89,000 0.014,628 American Assets Trust USD 159,839 0.01

17,883 American Campus Communities USD 741,647 0.063,141 American Express USD 232,012 0.02

31,947 American Homes 4 Rent – A – USD 632,186 0.058,967 Ameriprise Financial USD 1,000,783 0.087,267 Amgen USD 1,097,389 0.091,223 Analog Devices USD 83,418 0.018,212 Ansys USD 876,077 0.073,696 Anthem USD 609,636 0.054,530 Anworth Mortgage Asset USD 23,872 0.00

21,355 Apartment Investment & Management –A – USD 804,546 0.07

29,374 Apple Hospitality REIT USD 481,859 0.0418,624 Archer-Daniels-Midland USD 675,704 0.06

4,133 Ares Capital USD 59,359 0.015,824 Ares Commercial Real Estate USD 66,845 0.012,519 Arrow Electronics USD 173,184 0.01

11,383 Ashford Hospitality Trust USD 60,679 0.01371 Assurant USD 33,706 0.00

18,521 AT&T USD 612,675 0.05712 Athene Holding – A – USD 30,979 0.00

8,106 Autodesk USD 716,494 0.061,857 Automatic Data Processing USD 166,865 0.01

18,458 AvalonBay Communities USD 3,109,998 0.262,909 Avnet USD 99,176 0.01

25,120 Baker Hughes USD 1,200,574 0.1058,947 Bank of America USD 1,253,832 0.10

2,289 BankUnited USD 67,641 0.0124,031 Baxter International USD 1,275,555 0.11

456 Belden USD 30,144 0.002,197 Berry Global Group USD 109,809 0.011,130 Blackstone Mortgage Trust – A – USD 31,319 0.003,466 BMC Stock Holdings USD 66,399 0.017,423 BOK Financial USD 547,574 0.051,054 Booz Allen Hamilton Holding USD 30,070 0.00

20,072 Boston Properties USD 2,164,978 0.1823,045 Brandywine Realty Trust USD 354,191 0.03

5,401 Bristow Group USD 36,223 0.0038,069 Brixmor Property Group USD 596,794 0.05

6,486 Brocade Communications Systems USD 71,704 0.0130,110 Brookfield Property Partners CAD 623,658 0.05

2,897 Brooks Automation USD 55,098 0.00732 Brunswick USD 40,275 0.00612 Cabot USD 28,664 0.00

11,812 Camden Property Trust USD 885,589 0.0710,340 Cardinal Health USD 706,390 0.0611,593 Care Capital Properties USD 271,379 0.02

9,296 CareTrust REIT USD 151,109 0.01689 Carlisle USD 57,654 0.01

1,297 Cars.com USD 30,285 0.0026,026 CBL & Associates Properties USD 192,361 0.02

2,358 CDW USD 129,270 0.017,850 Centene USD 549,795 0.055,967 Cerner USD 347,748 0.038,511 Chatham Lodging Trust USD 149,912 0.01

643 Chemed USD 115,326 0.017,705 Chesapeake Lodging Trust USD 165,315 0.01

13,396 Chevron USD 1,225,350 0.102,686 Cigna USD 394,185 0.03


179






Currency Market

Value

% of

Net

Assets



7,530 ClubCorp Holdings USD 86,482 0.0118,022 Coach USD 748,013 0.0628,358 Coca-Cola USD 1,115,135 0.09

809 Coherent USD 159,652 0.016,101 Colony NorthStar – A – USD 75,371 0.01

14,182 Colony Starwood Homes USD 426,616 0.04804 Columbia Banking System USD 28,078 0.00

17,374 Columbia Property Trust USD 340,908 0.0351,463 Comcast – A – USD 1,756,126 0.15


17,887 Conagra Brands USD 560,819 0.051,444 Convergys USD 30,106 0.00

47,308 Corning USD 1,246,428 0.1012,461 Corporate Office Properties Trust USD 382,713 0.0359,704 Cousins Properties USD 460,126 0.04

622 Crown Holdings USD 32,551 0.0022,775 CubeSmart USD 480,043 0.04

6,569 Cullen/Frost Bankers USD 540,910 0.05620 Curtiss-Wright USD 49,893 0.00

94,347 Cypress Semiconductor USD 1,129,141 0.0911,905 CyrusOne USD 581,890 0.0513,481 CYS Investments USD 99,406 0.0144,982 Dana USD 880,662 0.0711,332 Danaher USD 838,481 0.0713,125 DCT Industrial Trust USD 614,946 0.0544,860 DDR USD 356,738 0.03

4,520 Deere & Co USD 489,831 0.041,381 Diamondback Energy USD 107,536 0.011,489 Dick’s Sporting Goods USD 51,995 0.00

21,071 Digital Realty Trust USD 2,086,687 0.1718,947 Douglas Emmett USD 634,753 0.0530,023 Dow Chemical USD 1,660,199 0.14

507 Dril-Quip USD 21,707 0.0049,399 Duke Realty USD 1,210,565 0.1010,899 DuPont Fabros Technology USD 584,429 0.05

2,736 E*TRADE Financial USD 91,236 0.012,342 East West Bancorp USD 120,276 0.013,299 Easterly Government Properties USD 60,596 0.014,086 EastGroup Properties USD 300,230 0.03

10,635 Education Realty Trust USD 361,323 0.0315,470 Empire State Realty Trust – A – USD 281,716 0.02

1,190 EnerSys USD 75,618 0.01886 Envision Healthcare USD 48,700 0.00

9,648 EPR Properties USD 607,957 0.0513,205 EQT USD 678,317 0.0616,589 Equity Commonwealth USD 459,617 0.0410,668 Equity LifeStyle Properties USD 807,606 0.0748,661 Equity Residential USD 2,808,590 0.23

3,782 Essent Group USD 123,150 0.018,905 Essex Property Trust USD 2,008,718 0.17

14,150 Expeditors International of Washington USD 700,692 0.0624,290 Extended Stay America USD 412,308 0.0316,531 Extra Space Storage USD 1,130,512 0.09

613 Extraction Oil & Gas USD 7,230 0.009,090 Facebook – A – USD 1,203,303 0.102,296 FactSet Research Systems USD 334,575 0.031,148 FCB Financial Holdings – A – USD 48,064 0.009,606 Federal Realty Investment Trust USD 1,064,458 0.09

18,926 FelCor Lodging Trust USD 119,640 0.012,310 Ferro USD 37,040 0.003,211 Finish Line – A – USD 39,888 0.001,278 First American Financial USD 50,071 0.00

168 First Citizens BancShares – A – USD 54,902 0.0036,200 First Data – A – USD 577,656 0.0516,719 First Industrial Realty Trust USD 419,536 0.04

1,540 First Midwest Bancorp USD 31,480 0.007,818 First Republic Bank USD 686,111 0.06

909 First Solar USD 31,766 0.002,563 FirstCash USD 131,033 0.017,319 Flex USD 104,666 0.01

962 FNF Group USD 37,830 0.00784 FNFV Group USD 10,858 0.00763 Foot Locker USD 32,983 0.00

27,655 Forest City Realty Trust – A – USD 586,060 0.0514,022 Franklin Street Properties USD 136,215 0.01






Currency Market

Value

% of

Net

Assets


56,700 Freeport-McMoRan USD 597,056 0.051,514 FTD Cos USD 26,555 0.00

805 FTI Consulting USD 24,660 0.002,730 Gardner Denver Holdings USD 51,717 0.00

95,139 General Electric USD 2,253,037 0.1985,156 GGP USD 1,759,042 0.1517,954 Gilead Sciences USD 1,114,209 0.09

8,084 Global Net Lease USD 157,636 0.019,494 Government Properties Income Trust USD 152,410 0.01

20,472 Gramercy Property Trust USD 533,274 0.04953 Granite Construction USD 40,320 0.00

7,938 Graphic Packaging Holding USD 95,910 0.01518 Group 1 Automotive USD 28,748 0.00

1,973 Gulfport Energy USD 25,515 0.0018,690 Halliburton USD 699,882 0.06

1,620 Hanmi Financial USD 40,400 0.001,318 Hanover Insurance Group USD 102,455 0.01

29,130 Hartford Financial Services Group USD 1,342,636 0.1164,296 HCP USD 1,801,675 0.1514,438 Healthcare Realty Trust USD 432,304 0.0424,960 Healthcare Trust of America – A – USD 680,810 0.06

1,606 Heidrick & Struggles International USD 30,623 0.003,696 Hersha Hospitality Trust USD 59,979 0.01

13,969 Highwoods Properties USD 621,072 0.051,021 Hillenbrand USD 32,321 0.00

13,101 Home Depot USD 1,762,097 0.1519,591 Hudson Pacific Properties USD 587,261 0.05

282 Huntington Ingalls Industries USD 45,994 0.00961 IAC/InterActiveCorp USD 86,994 0.01

5,863 Independence Realty Trust USD 50,737 0.00364 Infinity Property & Casualty USD 30,006 0.00

1,036 Insight Enterprises USD 36,312 0.00789 Integra LifeSciences Holdings USD 37,685 0.00

18,891 Intel USD 558,831 0.0521,853 Intercontinental Exchange USD 1,263,004 0.1116,070 Invesco USD 495,827 0.04

4,056 Investors Bancorp USD 47,513 0.0011,501 Investors Real Estate Trust USD 62,623 0.01

647 Jacobs Engineering Group USD 30,869 0.006,066 Jagged Peak Energy USD 71,005 0.01

419 JELD-WEN Holding USD 11,934 0.0024,031 Johnson Controls International USD 913,591 0.08

8,969 Jones Lang LaSalle USD 982,953 0.0832,698 JPMorgan Chase & Co USD 2,620,279 0.22

2,425 KAR Auction Services USD 89,231 0.0112,946 Kilroy Realty USD 852,986 0.0756,831 Kimco Realty USD 914,345 0.0810,661 Kite Realty Group Trust USD 176,945 0.02

8,361 Kosmos Energy USD 46,992 0.0037,446 Kroger USD 765,626 0.0610,461 La Quinta Holdings USD 135,471 0.01

2,263 La-Z-Boy USD 64,488 0.011,965 LCI Industries USD 176,378 0.02


28,642 Lexington Realty Trust USD 248,867 0.0220,449 Liberty Property Trust USD 729,882 0.06

6,658 Life Storage USD 432,560 0.04703 LifePoint Health USD 41,368 0.00

1,082 Lions Gate Entertainment – B – USD 24,933 0.001,155 Lithia Motors – A – USD 95,435 0.011,145 Live Nation Entertainment USD 34,972 0.005,615 LTC Properties USD 252,990 0.025,679 M&T Bank USD 806,416 0.07

15,290 Macerich USD 778,321 0.0710,879 Mack-Cali Realty USD 258,861 0.02

388 ManpowerGroup USD 37,981 0.005,712 Martin Marietta Materials USD 1,114,728 0.09

547 MAXIMUS USD 30,024 0.0044,049 Medical Properties Trust USD 497,052 0.0430,932 Merck & Co USD 1,738,143 0.1512,482 MFA Financial USD 91,819 0.01

6,579 MGM Growth Properties – A – USD 168,364 0.0115,997 Microchip Technology USD 1,082,473 0.0919,827 Micron Technology USD 519,083 0.0449,918 Microsoft USD 3,016,839 0.2515,034 Mid-America Apartment Communities USD 1,389,006 0.12

1,607 Minerals Technologies USD 103,124 0.01


180






Currency Market

Value

% of

Net

Assets


21,219 Mondelez International – A – USD 803,524 0.0720,741 Monogram Residential Trust REIT USD 176,575 0.0221,407 Monster Beverage USD 932,448 0.08

3,950 MSCI USD 356,681 0.031,523 MTGE Investment USD 25,101 0.00

43,996 Mylan USD 1,497,467 0.1355,809 Nabors Industries USD 398,300 0.0316,686 National Fuel Gas USD 816,944 0.07

2,534 National General Holdings USD 46,887 0.005,525 National Health Investors USD 383,678 0.03

20,636 National Retail Properties USD 707,451 0.065,704 National Storage Affiliates Trust USD 115,584 0.01

10,759 Navient USD 157,063 0.013,031 Navigant Consulting USD 52,509 0.001,471 Nelnet – A – USD 60,620 0.01

21,621 New York REIT USD 163,783 0.0116,295 Newfield Exploration USD 406,598 0.03

8,649 NorthStar Realty Europe USD 96,156 0.01663 Nu Skin Enterprises – A – USD 36,511 0.00

8,271 Office Depot USD 40,901 0.001,863 Olin USD 49,457 0.00

27,157 Omega Healthcare Investors USD 786,229 0.071,623 On Assignment USD 77,075 0.01

49,392 ON Semiconductor USD 608,011 0.0518,476 Oracle USD 812,236 0.0716,818 Oshkosh USD 1,015,655 0.09

804 Owens & Minor USD 22,680 0.0027,673 Paramount Group USD 388,199 0.03

1,411 PAREXEL International USD 107,535 0.014,485 Parkway USD 90,016 0.016,225 Parsley Energy – A – USD 151,467 0.01

16,588 PayPal Holdings USD 780,560 0.079,034 Pennsylvania Real Estate Investment

Trust USD 89,660 0.0110,542 PepsiCo USD 1,067,424 0.09

2,372 PharMerica USD 54,586 0.0013,172 Phillips 66 USD 954,950 0.0819,674 Physicians Realty Trust USD 347,411 0.0321,038 Piedmont Office Realty Trust – A – USD 388,829 0.03

5,554 Pioneer Natural Resources USD 777,151 0.07421 PolyOne USD 14,290 0.00815 Portland General Electric USD 32,639 0.00

8,583 PPG Industries USD 827,480 0.071,211 PRA Group USD 40,249 0.00

10,489 Procter & Gamble USD 801,500 0.0770,710 Prologis USD 3,635,461 0.30

2,448 PS Business Parks USD 284,203 0.0220,294 Public Storage USD 3,710,488 0.31

1,662 PulteGroup USD 35,745 0.005,655 QEP Resources USD 50,075 0.006,583 QTS Realty Trust – A – USD 302,043 0.03

10,814 QUALCOMM USD 523,583 0.0413,615 Quality Care Properties USD 218,565 0.02

5,781 Radian Group USD 82,867 0.0111,469 Ramco-Gershenson Properties Trust USD 129,718 0.01

508 Raymond James Financial USD 35,737 0.001,017 Realogy Holdings USD 28,934 0.00

36,067 Realty Income USD 1,744,947 0.1520,661 Regency Centers USD 1,134,734 0.09

1,335 Regeneron Pharmaceuticals USD 574,758 0.05901 Reinsurance Group of America USD 101,461 0.01

14,794 Retail Opportunity Investments USD 248,917 0.0234,560 Retail Properties of America – A – USD 369,973 0.03

9,189 Rexford Industrial Realty USD 221,065 0.024,368 Rice Energy USD 101,989 0.01

17,322 RLJ Lodging Trust USD 301,782 0.034,932 RPX USD 60,327 0.012,090 RSP Permian USD 59,120 0.019,248 Sabra Health Care REIT USD 195,420 0.025,528 Schlumberger USD 319,116 0.03

572 Scholastic USD 21,860 0.002,174 Schweitzer-Mauduit International USD 70,958 0.01

864 Scripps Networks Interactive – A – USD 51,774 0.0013,017 Seagate Technology USD 442,241 0.0411,355 Sealed Air USD 445,605 0.0412,582 SEI Investments USD 593,252 0.05

7,994 Select Income REIT USD 168,430 0.013,128 Select Medical Holdings USD 42,094 0.00






Currency Market

Value

% of

Net

Assets


30,203 Senior Housing Properties Trust USD 541,271 0.053,515 Seritage Growth Properties – A – USD 129,301 0.011,388 Service International USD 40,701 0.00

41,189 Simon Property Group USD 5,841,739 0.494,509 Skechers U.S.A. – A – USD 116,625 0.01

13,564 SL Green Realty USD 1,258,263 0.116,084 SLM USD 61,346 0.01

67,200 Spirit Realty Capital USD 436,591 0.0411,178 STAG Industrial USD 270,500 0.02

4,162 Starwood Property Trust USD 81,694 0.0112,089 State Street USD 951,089 0.08

3,887 Steel Dynamics USD 122,050 0.013,128 Steven Madden USD 109,562 0.012,737 Stifel Financial USD 110,333 0.01

22,312 Store Capital USD 439,183 0.0415,874 Summit Hotel Properties USD 259,566 0.02

9,959 Sun Communities USD 765,715 0.066,521 SunCoke Energy USD 62,318 0.01

684 SVB Financial Group USD 105,451 0.011,571 Sykes Enterprises USD 46,171 0.00

28,221 Synchrony Financial USD 737,849 0.06819 SYNNEX USD 86,174 0.01

5,770 Tailored Brands USD 56,454 0.0113,695 Tanger Factory Outlet Centers USD 311,945 0.03

6,621 Taubman Centers USD 345,670 0.031,792 TEGNA USD 22,635 0.003,456 TeleTech Holdings USD 123,616 0.01

616 Tempur Sealy International USD 28,817 0.002,865 Teradyne USD 75,422 0.01

28,429 Terex USD 934,704 0.086,302 Terreno Realty USD 185,991 0.021,340 Tesoro USD 109,977 0.011,993 Tetra Tech USD 79,949 0.019,044 Tier REIT USD 146,545 0.016,218 Time Warner USD 547,390 0.05

458 Torchmark USD 30,692 0.001,138 Tutor Perini USD 28,685 0.00

16,696 Two Harbors Investment USD 145,069 0.0135,012 UDR USD 1,196,292 0.10

2,466 United Parcel Service – B – USD 239,072 0.021,298 Universal USD 73,608 0.01

14,753 Urban Edge Properties USD 306,957 0.033,819 Valvoline USD 79,427 0.01

287 Varex Imaging USD 8,504 0.006,314 Varian Medical Systems USD 571,231 0.05

47,931 Ventas USD 2,919,865 0.24128,721 VEREIT USD 918,669 0.08

9,000 Visa – A – USD 739,989 0.0623,132 Vornado Realty Trust USD 1,904,459 0.1615,143 Walgreens Boots Alliance USD 1,039,684 0.09

3,752 Walker & Dunlop USD 160,623 0.0122,654 Washington Prime Group USD 166,250 0.01

9,683 Washington Real Estate Investment Trust USD 270,824 0.0215,053 Weingarten Realty Investors USD 397,264 0.0349,515 Welltower USD 3,249,498 0.27

2,085 WESCO International USD 104,745 0.0115,403 Western Digital USD 1,196,540 0.10

6,000 WestRock USD 298,054 0.034,213 WildHorse Resource Development USD 45,687 0.006,619 World Fuel Services USD 223,136 0.02

13,638 WP Carey USD 789,324 0.0718,790 Yum China Holdings USD 649,596 0.05

4,427 Yum! Brands USD 286,276 0.0224,997 Zions Bancorporation USD 962,361 0.08

186,837,573 15.58Vietnam

30,374 Taisun International Holding TWD 120,374 0.01147,303 Vietnam Dairy Products VND 895,438 0.08382,821 Vinh Hoan VND 871,194 0.07

1,887,006 0.16


181






Currency Market

Value

% of

Net

Assets


1,950 Natixis Asset Management NatixisTresorerie Plus – IC – EUR 202,679,490 16.91

202,679,490 16.91TOTAL TRANSFERABLE SECURITIES ANDMONEY MARKET INSTRUMENTS ADMITTEDTO AN OFFICIAL STOCK EXCHANGE LISTING 1,171,891,113 97.75





Currency Market

Value

% of

Net

Assets




INVESTMENTS 1,171,891,113 97.75



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(124) 10-Years US Note Future 09/17 USD (13,642,721) 73,393 0.01

(92) 2-Years US Note Future 09/17 USD (17,431,996) 17,974 0.00(214) 5-Years US Note Future 09/17 USD (22,121,893) 69,381 0.01(212) Bundesrepublik Deutschland Future BOBL 09/17 EUR (27,891,466) 319,172 0.02(110) Bundesrepublik Deutschland Future BUND 09/17 EUR (17,710,748) 324,527 0.03


(15) EUR/USD Currency Future 09/17 USD (1,812,220) (32,074) (0.00)3 EURO STOXX 50 Index Future 09/17 EUR 94,708 (2,638) (0.00)

(33) Euro-OAT Future 09/17 EUR (4,856,158) 44,579 0.001 FTSE 100 Index Future 09/17 GBP 101,193 (2,377) (0.00)

(3) GBP/USD Currency Future 09/17 USD (231,042) (5,189) (0.00)(21) Long Gilt Future 09/17 GBP (3,049,740) 44,688 0.0043 Mini MSCI Emerging Markets Future 09/17 USD 1,907,474 (12,455) (0.00)

8 S&P 500 E-mini Index Future 09/17 USD 846,307 (2,737) (0.00)(73) Short Euro-BTP Future 09/17 EUR (8,212,103) (20,847) (0.00)

3 Topix Index Future 09/17 JPY 385,679 1,424 0.00(9) US Long Bond Future 09/17 USD (1,227,754) 6,137 0.00



Purchased Sold


in Fund% ofNet


13,280,186 EUR 11,662,394 GBP 26/07/2017 4,173 0.00317,988 EUR 279,990 GBP 26/07/2017 (742) (0.00)

47,054 EUR 41,324 GBP 26/07/2017 12 0.005,309,665 EUR 5,930,721 USD 26/07/2017 115,382 0.01

86,675 EUR 97,671 USD 26/07/2017 1,132 0.0018,487 EUR 20,650 USD 26/07/2017 401 0.0065,106 EUR 74,389 USD 26/07/2017 (46) (0.00)

133,879 GBP 151,949 EUR 26/07/2017 454 0.00359 GBP 408 EUR 26/07/2017 1 0.00

191,659 USD 167,741 EUR 26/07/2017 119 0.00




TOTAL NET ASSETS 1,198,909,028 100.00



182





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Argentina334,397 Argentine Republic

Government InternationalBond EUR 7.820% 31/12/33 358,306 0.03











3,299,942 0.27Belgium132,643 AG Insurance USD 6.750% 29/03/49 122,194 0.01620,240 Anheuser-Busch InBev EUR 2.750% 17/03/36 661,408 0.05265,287 Argenta Spaarbank EUR 3.875% 24/05/26 286,554 0.02583,631 Belfius Bank EUR 3.125% 11/05/26 614,817 0.05408,275 Belgium Government Bond EUR 4.000% 28/03/19 440,573 0.0452,812 Belgium Government Bond







5,932,591 0.49Bermuda169,001 Digicel USD 6.000% 15/04/21 142,619 0.01185,902 Kosmos Energy USD 7.875% 01/08/21 167,068 0.01187,592 Kosmos Energy (traded in


478,273 0.04Canada338,003 Brookfield Residential

Properties USD 6.375% 15/05/25 308,205 0.03267,022 Concordia International USD 7.000% 15/04/23 35,118 0.00169,002 First Quantum Minerals USD 7.250% 01/04/23 145,212 0.01169,002 First Quantum Minerals USD 7.500% 01/04/25 145,212 0.01760,507 Jupiter Resources USD 8.500% 01/10/22 503,426 0.04253,502 Kinross Gold USD 4.500% 15/07/27 222,263 0.02169,002 Kinross Gold USD 6.875% 01/09/41 158,918 0.0151,883 New Gold USD 6.375% 15/05/25 46,969 0.00


1,885,964 0.15





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Cayman Islands






1,555,905 0.13Cyprus101,719 Cyprus Government


104,335 0.01Denmark157,315 Danske Bank GBP 5.375% 29/09/21 188,674 0.01772,515 DONG Energy EUR 3.000% 31/12/49 807,913 0.0779,188 DONG Energy EUR 6.250% 31/12/49 94,426 0.01

328,032 Welltec USD 8.000% 01/02/19 279,699 0.02

1,370,712 0.11Finland






3,899 Finland Government Bond EUR 2.750% 04/07/28 4,733 0.00369,544 Kojamo EUR 1.500% 19/06/24 367,215 0.0353,853 Nokia USD 3.375% 12/06/22 47,694 0.00

198,965 Nokia EUR 2.000% 15/03/24 202,610 0.02

1,097,128 0.09France

13,267 Accor EUR 4.125% 30/06/49 14,031 0.0079,586 Atos EUR 2.375% 02/07/20 83,548 0.01



0 AXA EUR 3.375% 06/07/47 0 0.00291,152 AXA GBP 5.453% 29/11/49 365,345 0.03397,930 BPCE USD 5.700% 22/10/23 388,922 0.03110,492 BPCE USD 4.500% 15/03/25 99,741 0.01212,229 Bureau Veritas EUR 3.125% 21/01/21 229,535 0.02864,614 Caisse Centrale du Credit






742,803 Electricite de France EUR 1.875% 13/10/36 674,515 0.05145,908 Electricite de France EUR 5.000% 22/01/49 156,477 0.01291,815 Electricite de France EUR 4.125% 29/01/49 308,413 0.03265,287 Electricite de France GBP 5.875% 22/07/49 308,855 0.0353,057 Electricite de France EUR 4.250% 29/12/49 56,393 0.00


183





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France (continued)424,459 Engie EUR 0.875% 27/03/24 426,713 0.03

1,061,644 France Government BondOAT EUR 1.000% 25/05/18 1,076,658 0.09


488,817 France Government BondOAT EUR 1.000% 25/11/18 499,378 0.04



61,201 France Government BondOAT (traded in France) EUR 0.500% 25/11/19 62,589 0.00

234,585 France Government BondOAT (traded in Germany) EUR 0.500% 25/11/19 239,904 0.02





610,316 France Government BondOAT (traded in France) EUR 0.000% 25/05/21 615,760 0.05

1,357,346 France Government BondOAT (traded in Germany) EUR 0.000% 25/05/21 1,369,453 0.11


1,564,547 France Government BondOAT (traded in France) EUR 3.000% 25/04/22 1,797,565 0.15

288,205 France Government BondOAT (traded in Germany) EUR 3.000% 25/04/22 331,129 0.03





170 France Government BondOAT EUR 1.750% 25/11/24 187 0.00




676,481 Fromageries Bel EUR 1.500% 18/04/24 679,776 0.0666,322 Groupama EUR 6.000% 23/01/27 78,867 0.0113,265 Groupama EUR 7.875% 27/10/39 15,246 0.00

716,274 Groupama EUR 6.375% 29/05/49 800,934 0.07596,895 Havas EUR 1.875% 08/12/20 620,552 0.05742,803 Iliad EUR 2.125% 05/12/22 772,464 0.06106,115 La Banque Postale EUR 2.750% 19/11/27 111,620 0.01297,652 La Mondiale EUR 5.050% 29/12/49 331,919 0.03397,930 La Mondiale USD 7.625% 31/12/49 374,635 0.03606,578 mFinance France EUR 2.000% 26/11/21 640,429 0.05479,241 Orange EUR 4.000% 29/10/49 520,937 0.04616,792 Orange EUR 5.000% 29/10/49 692,039 0.06531,900 RCI Banque EUR 1.375% 08/03/24 538,944 0.0489,667 Rexel EUR 3.500% 15/06/23 93,971 0.01


344,873 SEB EUR 1.500% 31/05/24 348,052 0.03359,297 SFR Group USD 6.000% 15/05/22 329,985 0.03112,349 SFR Group EUR 5.625% 15/05/24 121,353 0.01676,481 Societe Fonciere Lyonnaise EUR 1.875% 26/11/21 709,176 0.06

0 Societe Generale EUR 9.375% 29/09/49 0 0.00344,873 SPIE EUR 3.125% 22/03/24 360,411 0.03543,838 TDF Infrastructure EUR 2.875% 19/10/22 592,172 0.05159,172 TDF Infrastructure EUR 2.500% 07/04/26 165,958 0.01





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France (continued)212,229 Teleperformance EUR 1.500% 03/04/24 212,615 0.02172,436 TOTAL EUR 2.250% 29/12/49 174,818 0.01187,823 TOTAL EUR 2.708% 29/12/49 191,511 0.02

40,867,738 3.34Germany145,908 Allianz EUR 4.750% 29/10/49 168,325 0.01534,685 Bayer EUR 3.000% 01/07/75 557,043 0.04440,784 Bundesobligation EUR 0.000% 08/04/22 445,516 0.04504,358 Bundesrepublik Deutschland EUR 2.500% 04/01/21 556,568 0.0480,189 Bundesrepublik Deutschland EUR 3.250% 04/07/21 91,904 0.0147,314 Bundesrepublik Deutschland EUR 1.750% 04/07/22 51,966 0.00

1,998,996 Bundesrepublik Deutschland EUR 1.500% 04/09/22 2,173,299 0.18301,101 Bundesrepublik Deutschland EUR 1.500% 15/02/23 328,319 0.03

2,185,573 Bundesrepublik Deutschland EUR 2.000% 15/08/23 2,459,370 0.201,022,561 Bundesrepublik Deutschland EUR 1.750% 15/02/24 1,140,282 0.093,014,487 Bundesrepublik Deutschland EUR 1.000% 15/08/24 3,208,515 0.261,152,462 Bundesrepublik Deutschland EUR 0.500% 15/02/25 1,181,606 0.10

380,600 Bundesrepublik Deutschland EUR 0.500% 15/02/26 386,727 0.03834,825 Bundesrepublik Deutschland EUR 0.000% 15/08/26 805,373 0.07177,500 Bundesrepublik Deutschland EUR 5.500% 04/01/31 286,175 0.02380,455 Bundesrepublik Deutschland EUR 4.250% 04/07/39 618,196 0.05

1,181,640 Bundesschatzanweisungen EUR 0.000% 14/06/19 1,194,982 0.100 Daimler EUR 1.400% 12/01/24 0 0.00

1,214,483 Daimler EUR 1.500% 03/07/29 1,193,020 0.10817,349 Deutsche Pfandbriefbank EUR 1.375% 15/01/18 823,544 0.07443,957 Deutsche Wohnen EUR 1.375% 24/07/20 458,460 0.04564,663 EnBW Energie


Baden-Wuerttemberg EUR 3.375% 05/04/77 306,322 0.02450,988 Eurogrid EUR 1.875% 10/06/25 478,694 0.04

0 FMS Wertmanagement AoeR EUR 0.000% 20/10/20 0 0.00212,229 IHO Verwaltungs EUR 3.250% 15/09/23 218,208 0.02976,506 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 30/06/21 984,482 0.08569,628 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 28/04/22 571,793 0.05252,022 LEG Immobilien EUR 1.250% 23/01/24 253,726 0.02141,559 State of North





Guernsey USD 3.800% 09/06/23 417,796 0.03

417,796 0.03Iceland225,494 Arion Banki EUR 2.500% 26/04/19 233,942 0.02318,344 Arion Banki EUR 1.625% 01/12/21 325,071 0.03105,788 Iceland Government


1,628,980 0.13India159,172 ONGC Videsh EUR 2.750% 15/07/21 169,314 0.01

169,314 0.01Ireland364,769 Allied Irish Banks EUR 4.125% 26/11/25 388,934 0.03117,287 Ardagh Packaging Finance



7 ESB Finance EUR 6.250% 11/09/17 7 0.000 FCA Bank Ireland EUR 2.875% 26/01/18 0 0.00


184





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Ireland (continued)132,644 FCA Bank Ireland EUR 2.000% 23/10/19 137,853 0.01403,767 FCA Bank Ireland EUR 1.375% 17/04/20 413,728 0.03262,767 Fresenius Finance Ireland EUR 1.500% 30/01/24 265,883 0.0282,769 Fresenius Finance Ireland EUR 2.125% 01/02/27 84,982 0.01

599,150 Fresenius Finance Ireland EUR 3.000% 30/01/32 629,878 0.050 GAS Networks Ireland EUR 1.375% 05/12/26 0 0.00

1,755,554 Ireland Government Bond EUR 4.500% 18/04/20 1,991,360 0.161,887,220 Ireland Government Bond EUR 5.000% 18/10/20 2,215,632 0.18

987,503 Ireland Government Bond EUR 1.000% 15/05/26 998,651 0.081 Ireland Government Bond EUR 2.400% 15/05/30 1 0.00

1,072,291 Ireland Government Bond EUR 1.700% 15/05/37 1,072,199 0.09437,723 Johnson Controls

International EUR 1.000% 15/09/23 432,778 0.04494,362 Ryanair EUR 1.875% 17/06/21 521,771 0.04145,908 Smurfit Kappa Acquisitions EUR 2.375% 01/02/24 149,869 0.01132,643 Transmission Finance EUR 1.500% 24/05/23 136,686 0.01

10,036,343 0.82Italy252,022 Beni Stabili SIIQ EUR 4.125% 22/01/18 257,940 0.02355,352 Enel EUR 6.500% 10/01/74 385,111 0.03132,643 Enel GBP 7.750% 10/09/75 171,931 0.02163,151 Enel GBP 6.625% 15/09/76 207,969 0.02337,710 Intesa Sanpaolo USD 5.250% 12/01/24 327,547 0.03209,311 Intesa Sanpaolo USD 5.710% 15/01/26 194,092 0.02















495,712 Italy Buoni Poliennali DelTesoro (traded in Germany) EUR 5.500% 01/09/22 608,640 0.05



175,466 Italy Buoni Poliennali DelTesoro (traded inSwitzerland) EUR 4.500% 01/05/23 208,039 0.02




934,631 Italy Buoni Poliennali DelTesoro EUR 4.500% 01/03/26 1,127,960 0.09







market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets




25,053,895 2.05Luxembourg346,453 Accudyne Industries

Borrower via AccudyneIndustries USD 7.750% 15/12/20 305,278 0.03

318,477 Allergan Funding EUR 1.250% 01/06/24 317,245 0.03391,165 Allergan Funding EUR 2.125% 01/06/29 391,531 0.03287,303 Altice Financing USD 6.625% 15/02/23 267,879 0.02253,502 Altice Luxembourg USD 7.625% 15/02/25 244,489 0.02173,058 Consolidated Energy Finance USD 6.750% 15/10/19 154,956 0.01174,072 Consolidated Energy Finance USD 6.875% 15/06/25 157,581 0.01747,663 Coveris Holdings USD 7.875% 01/11/19 648,973 0.05

1,291,836 European Financial StabilityFacility EUR 0.750% 03/05/27 1,285,028 0.11

1,423,682 European Financial StabilityFacility EUR 1.250% 24/05/33 1,399,279 0.12

318,344 Gazprom via Gaz Capital GBP 4.250% 06/04/24 374,703 0.03388,645 GELF Bond Issuer I EUR 1.750% 22/11/21 404,015 0.0363,376 Mallinckrodt International


Finance via Mallinckrodt CB USD 5.500% 15/04/25 130,394 0.01628,729 Novartis Finance EUR 0.125% 20/09/23 612,514 0.05394,614 Prologis International

Funding II EUR 1.876% 17/04/25 403,747 0.03349,495 Topaz Marine USD 8.625% 01/11/18 307,410 0.03456,304 Wind Acquisition Finance USD 7.375% 23/04/21 416,327 0.03

7,872,331 0.64Mexico185,902 Cemex EUR 4.375% 05/03/23 197,111 0.0239,793 Mexico City Airport Trust USD 5.500% 31/10/46 35,413 0.00


2,009,729 0.16Netherlands772,648 Achmea EUR 6.000% 04/04/43 873,217 0.07819,603 Achmea EUR 4.250% 29/12/49 794,056 0.06530,574 Cetin Finance EUR 1.423% 06/12/21 545,252 0.04236,602 Constellium USD 7.875% 01/04/21 222,745 0.02278,853 Constellium EUR 7.000% 15/01/23 287,938 0.02205,199 Deutsche Bahn Finance EUR 0.875% 11/07/31 189,107 0.02403,634 Deutsche Bahn Finance EUR 1.500% 08/12/32 399,118 0.03187,027 Deutsche Telekom



234,779 ELM for Swiss LifeInsurance & Pension Group EUR 4.500% 29/12/49 255,859 0.02






Holding Netherlands USD 6.875% 15/05/23 135,164 0.01


185





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Netherlands (continued)159,172 Madrilena Red de Gas

Finance EUR 2.250% 11/04/29 161,641 0.01517,309 Mylan EUR 2.250% 22/11/24 535,936 0.04

1,046,014 Netherlands GovernmentBond EUR 0.000% 15/01/22 1,055,019 0.09

91 Netherlands GovernmentBond EUR 2.250% 15/07/22 102 0.00

331,423 Netherlands GovernmentBond (traded in Germany) EUR 1.750% 15/07/23 365,844 0.03

69,508 Netherlands GovernmentBond (traded in Netherlands) EUR 1.750% 15/07/23 76,727 0.01



344,873 NIBC Bank EUR 1.500% 31/01/22 351,610 0.0368,444 Petrobras Global Finance USD 6.125% 17/01/22 62,050 0.00




0 TenneT Holding EUR 6.655% 29/06/49 0 0.000 Teva Pharmaceutical Finance

Netherlands II EUR 1.250% 31/03/23 0 0.0079,586 Vesteda Finance EUR 1.750% 22/07/19 81,689 0.01

464,252 Vesteda Finance EUR 2.500% 27/10/22 498,036 0.04455,630 Vonovia Finance EUR 0.875% 30/03/20 463,827 0.04782,596 Vonovia Finance EUR 1.625% 15/12/20 817,056 0.07636,688 Vonovia Finance EUR 1.250% 06/12/24 636,032 0.05172,437 Vonovia Finance EUR 4.000% 29/12/49 185,850 0.02225,494 Vonovia Finance EUR 4.625% 08/04/74 238,993 0.02


15,541,537 1.27New Zealand225,494 Chorus EUR 1.125% 18/10/23 224,426 0.02

224,426 0.02Norway

0 Statoil EUR 1.625% 09/11/36 0 0.00

0 0.00Panama795,860 Carnival EUR 1.125% 06/11/19 813,657 0.07450,988 Carnival EUR 1.625% 22/02/21 470,017 0.04358,137 Carnival EUR 1.875% 07/11/22 378,050 0.03

1,661,724 0.14Peru


55,716 0.01Poland547,419 Tauron Polska Energia EUR 2.375% 05/07/27 550,019 0.05


13,265 Brisa Concessao Rodoviaria EUR 1.875% 30/04/25 13,353 0.00132,643 Brisa Concessao Rodoviaria EUR 2.375% 10/05/27 134,222 0.01477,516 Parpublica – Participacoes

Publicas EUR 3.750% 05/07/21 523,917 0.05117,825 Portugal Obrigacoes do

Tesouro OT EUR 4.800% 15/06/20 133,373 0.01

804,865 0.07Romania666,533 Romania Government


688,129 0.06





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Slovenia414,676 Slovenia Government Bond EUR 1.750% 09/10/17 417,088 0.03538,943 Slovenia Government Bond EUR 1.750% 03/11/40 483,892 0.04

900,980 0.07Spain331,608 Bankia EUR 4.000% 22/05/24 344,593 0.03172,436 Bankia EUR 3.375% 15/03/27 175,660 0.01371,401 CaixaBank EUR 3.500% 15/02/27 388,435 0.03305,080 Canal de Isabel II Gestion EUR 1.680% 26/02/25 309,294 0.03384,666 Cellnex Telecom EUR 2.375% 16/01/24 394,766 0.0366,322 Cellnex Telecom EUR 2.875% 18/04/25 68,755 0.01



305,080 Inmobiliaria Colonial EUR 1.450% 28/10/24 299,942 0.02145,908 Mapfre EUR 4.375% 31/03/47 155,855 0.01278,551 Santander Consumer Finance EUR 1.100% 30/07/18 282,110 0.02159,172 Santander Consumer Finance EUR 0.900% 18/02/20 162,207 0.01318,344 Santander Consumer Finance EUR 1.500% 12/11/20 330,243 0.03756,067 Santander Consumer Finance EUR 0.875% 24/01/22 760,127 0.0611,698 Spain Government Bond

(traded in Germany) EUR 5.500% 30/07/17 11,748 0.002,543 Spain Government Bond

(traded in Spain) EUR 5.500% 30/07/17 2,554 0.00224,291 Spain Government Bond EUR 4.100% 30/07/18 235,001 0.02



323,468 Spain Government Bond EUR 5.500% 30/04/21 391,171 0.03900,894 Spain Government Bond EUR 5.850% 31/01/22 1,132,557 0.09621,336 Spain Government Bond EUR 5.400% 31/01/23 789,213 0.06145,120 Spain Government Bond EUR 4.800% 31/01/24 182,535 0.02

1,000,240 Spain Government Bond EUR 3.800% 30/04/24 1,193,103 0.10410,438 Spain Government Bond EUR 1.950% 30/04/26 431,766 0.04317,873 Spain Government Bond EUR 1.300% 31/10/26 315,152 0.03938,149 Spain Government Bond EUR 1.500% 30/04/27 936,250 0.08709,831 Spain Government Bond EUR 1.450% 31/10/27 698,613 0.06

1,495,105 Spain Government Bond EUR 2.350% 30/07/33 1,516,219 0.12212,593 Spain Government Bond EUR 2.900% 31/10/46 215,232 0.02203,759 Spain Government Bond EUR 3.450% 30/07/66 216,260 0.02994,260 Spain Government Inflation

Linked Bond EUR 0.550% 30/11/19 1,029,788 0.08121,554 Spain Government Inflation

Linked Bond EUR 0.650% 30/11/27 122,608 0.01106,115 Telefonica Emisiones GBP 5.597% 12/03/20 134,528 0.01

20,985,920 1.72Supranational253,502 Endo Dac via Endo Finance

via Endo Finco USD 6.000% 01/02/25 182,256 0.02339 European Investment Bank EUR 0.250% 14/10/24 339 0.00

155,122 European Investment Bank EUR 0.375% 14/04/26 153,140 0.01169 European Stability

Mechanism EUR 0.500% 02/03/26 170 0.00422,504 JBS USA LUX via JBS USA

Finance USD 8.250% 01/02/20 372,291 0.03174,241 JBS USA LUX via JBS USA

Finance USD 5.875% 15/07/24 143,985 0.0184,501 Venator Finance via Venator

Materials USD 5.750% 15/07/25 75,014 0.01

927,195 0.08Sweden136,623 Energa Finance EUR 2.125% 07/03/27 135,954 0.01179,732 Essity EUR 0.625% 28/03/22 179,198 0.01212,229 Essity EUR 1.125% 27/03/24 212,934 0.02374,054 Molnlycke Holding EUR 1.500% 28/02/22 386,081 0.03

1,397,133 Svenska Handelsbanken EUR 1.125% 14/12/22 1,440,423 0.12


186





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Sweden (continued)530,573 Telia EUR 3.000% 04/04/78 546,714 0.04188,752 Vattenfall EUR 3.000% 19/03/77 184,831 0.02



Switzerland EUR 0.371% 20/09/22 301,050 0.021,034,618 UBS Group Funding

Switzerland EUR 1.500% 30/11/24 1,060,421 0.09

1,948,321 0.16United Kingdom111,288 Aviva EUR 3.375% 04/12/45 114,638 0.01542,511 Barclays GBP 3.125% 17/01/24 639,899 0.05





1,047,883 Coventry Building Society EUR 2.500% 18/11/20 1,119,112 0.0990,861 CYBG GBP 3.125% 22/06/25 102,397 0.01

334,261 CYBG GBP 5.000% 09/02/26 386,389 0.03684,705 DS Smith EUR 2.250% 16/09/22 722,524 0.06354,158 FCE Bank EUR 1.660% 11/02/21 367,492 0.03415,837 Friends Life Holdings GBP 8.250% 21/04/22 611,251 0.05515,983 G4S International Finance EUR 1.500% 09/01/23 523,612 0.04119,379 GKN Holdings GBP 3.375% 12/05/32 136,230 0.01121,103 Hammerson EUR 1.750% 15/03/23 125,588 0.01689,746 HSBC Holdings EUR 0.369% 27/09/22 695,859 0.06

0 HSBC Holdings GBP 5.750% 20/12/27 0 0.00225,494 HSBC Holdings GBP 2.625% 16/08/28 257,661 0.02198,965 HSBC Holdings GBP 6.750% 11/09/28 298,566 0.03287,303 International Car Wash

Group Financing EUR 6.625% 15/07/19 292,179 0.02132,643 Investec GBP 4.500% 05/05/22 163,066 0.01309,988 ITV EUR 2.125% 21/09/22 321,685 0.03405,623 ITV EUR 2.000% 01/12/23 413,607 0.03


Automotive GBP 2.750% 24/01/21 87,474 0.0142,250 KCA Deutag UK Finance USD 7.250% 15/05/21 32,969 0.0033,800 KCA Deutag UK Finance USD 9.875% 01/04/22 28,894 0.0041,517 Ladbrokes Group Finance GBP 5.125% 08/09/23 46,928 0.00


452,314 Pirelli International EUR 1.750% 18/11/19 462,212 0.04676,481 Royal Bank of Scotland EUR 0.500% 15/05/24 669,860 0.06


386,655 Royal Bank of ScotlandGroup EUR 2.500% 22/03/23 411,077 0.03

339,700 Santander UK EUR 0.875% 13/01/20 345,465 0.03209,842 Skipton Building Society GBP 1.750% 30/06/22 236,811 0.02530,574 Sky EUR 1.500% 15/09/21 549,855 0.05238,758 Smiths Group EUR 2.000% 23/02/27 242,715 0.02

1,074,411 SSE EUR 1.750% 08/09/23 1,135,642 0.09263,960 SSE EUR 5.625% 29/09/49 267,486 0.02124,552 SSE GBP 3.875% 29/12/49 145,969 0.01132,643 SSE GBP 3.625% 16/09/77 152,922 0.01344,873 Tesco GBP 5.000% 24/03/23 434,080 0.04173,365 Tesco GBP 6.000% 14/12/29 230,463 0.02425,785 TSB Banking Group GBP 5.750% 06/05/26 526,458 0.04338,003 Tullow Oil USD 6.250% 15/04/22 271,532 0.02





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets




205,067 William Hill GBP 4.875% 07/09/23 240,588 0.02522,748 Yorkshire Building Society EUR 2.125% 18/03/19 540,897 0.04

1,094,573 Yorkshire Building Society EUR 1.250% 17/03/22 1,120,013 0.09

20,291,756 1.66United States257,220 A Schulman USD 6.875% 01/06/23 239,618 0.02344,873 AbbVie EUR 0.375% 18/11/19 346,545 0.03423,011 Aircastle USD 4.125% 01/05/24 378,996 0.03253,502 Alere USD 6.500% 15/06/20 226,431 0.02338,003 Allegheny Technologies USD 7.875% 15/08/23 311,169 0.03263,980 Allegiant Travel USD 5.500% 15/07/19 241,287 0.02249,108 Alliance Resource Operating

Partners via AllianceResource Finance USD 7.500% 01/05/25 230,423 0.02



Holdings USD 6.125% 15/05/27 156,742 0.01338,003 American Airlines Group USD 5.500% 01/10/19 313,569 0.03185,701 American Tower EUR 1.375% 04/04/25 183,151 0.01153,960 Appvion USD 9.000% 01/06/20 70,869 0.01491,709 AT&T EUR 1.800% 04/09/26 487,407 0.04527,788 AT&T EUR 2.350% 04/09/29 522,167 0.04122,695 AT&T EUR 3.550% 17/12/32 133,855 0.01374,054 AT&T EUR 2.450% 15/03/35 345,199 0.03399,654 AT&T EUR 3.150% 04/09/36 394,479 0.03296,458 AT&T USD 5.450% 01/03/47 280,872 0.02331,608 Bank of America GBP 6.125% 15/09/21 448,605 0.04364,239 Bank of America EUR 1.625% 14/09/22 378,138 0.03888,711 Bank of America EUR 0.451% 04/05/23 890,728 0.07477,516 Bank of America EUR 1.776% 04/05/27 480,361 0.04240,320 Beazer Homes USA USD 6.750% 15/03/25 220,187 0.02305,080 Becton Dickinson & Co EUR 1.000% 15/12/22 303,325 0.02407,294 C&S Group Enterprises USD 5.375% 15/07/22 353,532 0.03117,118 CalAtlantic Group USD 5.875% 15/11/24 111,671 0.01117,118 CalAtlantic Group USD 5.250% 01/06/26 106,921 0.01155,988 Cardtronics via Cardtronics




338,003 Chemours USD 7.000% 15/05/25 324,504 0.0358,475 Chemours USD 5.375% 15/05/27 52,993 0.00

102,753 Chesapeake Energy USD 8.000% 15/12/22 95,609 0.01169,002 Chesapeake Energy USD 8.000% 15/01/25 147,249 0.0181,290 CHS USD 5.125% 01/08/21 72,431 0.01




137,736 Commercial Metals USD 5.375% 15/07/27 123,329 0.01236,602 Continental Resources USD 5.000% 15/09/22 204,334 0.02253,502 Continental Resources USD 4.900% 01/06/44 186,701 0.0223,153 Covey Park Energy via

Covey Park Finance USD 7.500% 15/05/25 20,351 0.00422,504 CSVC Acquisition USD 7.750% 15/06/25 379,468 0.03


187





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United States (continued)338,003 CVR Partners via CVR

Nitrogen Finance USD 9.250% 15/06/23 311,169 0.0394,303 Deck Chassis Acquisition USD 10.000% 15/06/23 91,984 0.01

207,027 Dell USD 7.100% 15/04/28 200,120 0.02545,960 Digital Euro Finco EUR 2.625% 15/04/24 580,500 0.05300,172 Discovery Communications EUR 1.900% 19/03/27 287,254 0.02169,002 DISH DBS USD 5.000% 15/03/23 152,250 0.01184,212 DISH DBS USD 7.750% 01/07/26 191,795 0.0253,404 Eagle Holding II USD 7.625% 15/05/22 48,287 0.00





Acquisition Finance USD 8.000% 15/02/25 222,263 0.02388,704 Ferrellgas via Ferrellgas

Finance USD 6.750% 15/01/22 322,059 0.03338,003 Frontier Communications USD 8.125% 01/10/18 313,762 0.03338,003 Gates Global via Gates

Global USD 6.000% 15/07/22 298,574 0.02397,930 General Electric EUR 1.500% 17/05/29 393,470 0.03447,854 Genesis Energy via Genesis












371,401 Parker-Hannifin EUR 1.125% 01/03/25 370,375 0.03





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United States (continued)343,580 PBF Holding via PBF


0 Philip Morris International EUR 2.125% 30/05/19 0 0.00147,367 Philip Morris International EUR 1.750% 19/03/20 153,644 0.01236,602 Platform Specialty Products USD 10.375% 01/05/21 230,005 0.02338,003 Post Holdings USD 5.000% 15/08/26 296,351 0.02198,965 Priceline Group EUR 0.800% 10/03/22 198,328 0.02498,555 Prime Security Services





Tempo Acquisition Finance USD 6.750% 01/06/25 46,323 0.00116,780 Tenet Healthcare USD 4.625% 15/07/24 102,773 0.01146,355 THC Escrow III USD 4.625% 15/07/24 128,987 0.01181,508 THC Escrow III USD 5.125% 01/05/25 160,135 0.01498,739 Thermo Fisher Scientific EUR 1.500% 01/12/20 515,991 0.04



109,166 T-Mobile USA USD 6.000% 15/04/24 102,652 0.01338,003 T-Mobile USA USD 6.500% 15/01/26 327,838 0.03130,976 TransDigm USD 6.500% 15/05/25 117,133 0.01295,753 TransDigm USD 6.375% 15/06/26 263,845 0.0253,057 United States Treasury Bond USD 3.000% 15/02/47 47,997 0.0060,503 USG USD 4.875% 01/06/27 54,705 0.00





253,502 West USD 5.375% 15/07/22 225,042 0.02219,702 Western Digital USD 10.500% 01/04/24 227,721 0.02257,051 WMG Acquisition USD 5.000% 01/08/23 231,854 0.02131,821 Wynn Las Vegas via Wynn

Las Vegas Capital USD 5.250% 15/05/27 118,539 0.01221,054 Xerium Technologies USD 9.500% 15/08/21 206,411 0.02269,219 York Risk Services Holding USD 8.500% 01/10/22 228,372 0.02338,003 Zachry Holdings USD 7.500% 01/02/20 306,723 0.02107,654 Zayo Group via Zayo Capital USD 5.750% 15/01/27 98,989 0.01222,045 Zimmer Biomet Holdings EUR 1.414% 13/12/22 225,734 0.02119,379 Zimmer Biomet Holdings EUR 2.425% 13/12/26 123,922 0.01

42,139,671 3.45


188






Currency Market

Value

% of

Net

Assets


65,949 Australia & New Zealand Banking Group AUD 1,273,811 0.1058,722 Bank of Queensland AUD 452,184 0.0437,076 BHP Billiton AUD 580,483 0.0545,670 BlueScope Steel AUD 405,737 0.0357,428 BWP Trust AUD 115,094 0.0118,670 Caltex Australia AUD 396,888 0.0335,661 Charter Hall Retail REIT AUD 97,610 0.01


135,355 Dexus AUD 862,964 0.07662,126 Fairfax Media AUD 489,827 0.04174,115 Genworth Mortgage Insurance Australia AUD 343,095 0.03242,354 Goodman Group AUD 1,282,727 0.11242,419 GPT Group AUD 780,930 0.06

75,037 Harvey Norman Holdings AUD 192,774 0.02235,635 HT&E AUD 418,362 0.03

64,228 Investa Office Fund AUD 189,626 0.0214,711 Lend Lease Group AUD 164,730 0.01

7,712 Macquarie Group AUD 459,014 0.04690,933 Mirvac Group AUD 989,748 0.08

21,139 Newcrest Mining AUD 286,604 0.0298,331 Oil Search AUD 451,007 0.0470,370 Origin Energy AUD 324,656 0.03

138,972 Qantas Airways AUD 534,605 0.04716,249 Scentre Group AUD 1,950,870 0.16


184,655 South32 AUD 332,816 0.03313,002 Stockland AUD 922,000 0.08120,341 Syrah Resources AUD 224,183 0.02340,150 Vicinity Centres AUD 587,912 0.05257,527 Westfield AUD 1,390,747 0.11


18,433,042 1.51Austria

935 ams CHF 53,267 0.0014,119 BUWOG EUR 355,167 0.03



3,903,375 0.32Bangladesh139,809 BRAC Bank BDT 122,740 0.01379,332 Square Pharmaceuticals BDT 1,197,138 0.10

1,319,878 0.11Belgium

561 Barco EUR 50,465 0.002,516 Cofinimmo EUR 270,897 0.02

27,470 D’ieteren EUR 1,124,083 0.0920,823 KBC Group EUR 1,382,865 0.1116,222 Solvay EUR 1,906,089 0.1629,833 UCB EUR 1,796,811 0.15

1,767 Umicore EUR 107,592 0.01

6,638,802 0.54Bermuda


18,955 Maiden Holdings USD 184,470 0.028,701 Marvell Technology Group USD 126,025 0.011,794 Validus Holdings USD 81,749 0.01

574,182 0.05Brazil



115,764 BR Malls Participacoes BRL 366,078 0.0322,864 Braskem – Pref – BRL 206,924 0.0216,767 BTG Pactual Group BRL 66,556 0.0046,212 Cia de Saneamento Basico do Estado de


5,374 Cia Paranaense de Energia – ADR – USD 34,583 0.00






Currency Market

Value

% of

Net

Assets


6,033 Gafisa BRL 17,274 0.009,873 Iguatemi Empresa de Shopping Centers BRL 86,010 0.01

24,913 Itau Unibanco Holding – ADR – USD 241,361 0.02246,299 JBS BRL 425,605 0.03


290,913 Metalurgica Gerdau – Pref – BRL 382,606 0.0350,999 MRV Engenharia e Participacoes BRL 182,460 0.0112,571 Multiplan Empreendimentos Imobiliarios BRL 217,286 0.0234,476 Petroleo Brasileiro – ADR – USD 241,519 0.0264,567 Petroleo Brasileiro – Pref – BRL 211,355 0.0225,161 Sao Martinho BRL 114,523 0.01

6,558 TIM Participacoes – ADR – USD 85,093 0.0123,635 Transmissora Alianca de Energia Eletrica BRL 137,844 0.0128,701 Vale – ADR – USD 220,187 0.0236,267 Vale – Pref – BRL 258,263 0.02

5,472,878 0.45Canada


20,157 Artis Real Estate Investment Trust CAD 178,265 0.014,980 Boardwalk Real Estate Investment Trust CAD 159,860 0.01

19,081 Canadian Apartment Properties REIT CAD 432,431 0.0310,383 Canadian Real Estate Investment Trust CAD 321,541 0.0325,395 Chartwell Retirement Residences CAD 265,567 0.0223,281 Cominar Real Estate Investment Trust CAD 199,767 0.0215,542 Dream Office Real Estate Investment

Trust CAD 205,128 0.0219,546 First Capital Realty CAD 260,753 0.02

5,509 Granite Real Estate Investment CAD 190,768 0.0239,581 H&R Real Estate Investment Trust CAD 588,407 0.0529,906 Pure Industrial Real Estate Trust CAD 138,908 0.0142,258 RioCan Real Estate Investment Trust CAD 686,692 0.0614,197 Smart Real Estate Investment Trust CAD 307,849 0.02


7,507 CAP CLP 52,556 0.00

2,441,348 0.20China336,835 Agile Property Holdings HKD 270,493 0.02

3,062,318 Agricultural Bank of China – H – HKD 1,269,138 0.10412,037 Air China – H – HKD 372,532 0.03



257,825 BAIC Motor – H – HKD 219,207 0.023,193 Baidu – ADR – USD 500,649 0.04

1,672,956 Bank of China – H – HKD 719,640 0.0661,878 Baozu – ADR – USD 1,202,786 0.10

132,799 BYD Electronic International HKD 230,886 0.022,553 Changyou.com – ADR – USD 86,761 0.01

865,663 China Cinda Asset Management – H – HKD 282,927 0.02423,461 China CITIC Bank – H – HKD 227,339 0.02

98,827 China Communications Construction – H– HKD 111,662 0.01

2,078,765 China Construction Bank – H – HKD 1,412,514 0.12165,947 China Evergrande Group HKD 261,306 0.02619,702 China Forestry Holdings EUR 0 0.00429,383 China Huarong Asset Management – H – HKD 146,123 0.01

19,971 China Lesso Group Holdings HKD 13,458 0.0017,101 China Lodging Group – ADR – USD 1,209,714 0.10



222,301 China Southern Airlines – H – HKD 164,785 0.01967,887 China Telecom – H – HKD 403,302 0.03141,755 China Yongda Automobiles Services

Holdings HKD 126,572 0.01105,776 China ZhengTong Auto Services

Holdings HKD 74,250 0.01110,975 Chinammunications Services – H – HKD 56,088 0.00


189






Currency Market

Value

% of

Net

Assets

SHARES EUR %China (continued)795,590 Chongqing Rural Commercial Bank – H

– HKD 470,904 0.04819,549 CIFI Holdings Group HKD 319,401 0.03135,269 Country Garden Holdings HKD 137,493 0.01279,598 Dongfeng Motor Group – H – HKD 289,847 0.02217,214 Fufeng Group HKD 102,463 0.01206,919 Geely Automobile Holdings HKD 391,359 0.03

91,815 Guangshen Railway – H – HKD 39,908 0.00579,579 Guangzhou Automobile Group – H – HKD 891,796 0.07243,814 Guangzhou R&F Properties – H – HKD 332,438 0.03143,299 Harbin Electric – H – HKD 63,412 0.01357,022 Hua Hong Semiconductor HKD 425,043 0.04391,891 Huaneng Power International – H – HKD 238,560 0.02

0 Huaneng Renewables – H – HKD 0 0.002,271,285 Industrial & Commercial Bank of China –

H – HKD 1,344,356 0.1111,675 JA Solar Holdings – ADR – USD 64,998 0.0114,833 JD.com – ADR – USD 510,052 0.0491,893 Jiangxi Copper – H – HKD 132,313 0.0160,494 Kaisa Group Holdings HKD 16,782 0.00

313,518 KWG Property Holding HKD 184,161 0.02478,618 Li Ning HKD 319,306 0.03257,156 Logan Property Holdings HKD 148,743 0.01161,417 Lonking Holdings HKD 44,417 0.00

91,258 Luthai Textile – B – HKD 87,839 0.011,019 Momo – ADR – USD 33,026 0.005,331 NetEase – ADR – USD 1,405,040 0.12


Group – ADR – USD 492,739 0.04626,714 PetroChina – H – HKD 336,457 0.03355,431 PICC Property & Casualty – H – HKD 520,553 0.04162,756 Powerlong Real Estate Holdings HKD 61,420 0.01

0 Semiconductor ManufacturingInternational HKD 0 0.00

88,903 Shanghai Haohai Biological Technology –H – HKD 423,363 0.03

179,453 Shanghai Pharmaceuticals Holding – H – HKD 468,604 0.04234,254 Shenzhou International Group Holdings HKD 1,349,699 0.11370,653 Shui On Land HKD 78,680 0.01

1,565 SINA USD 116,573 0.0164,752 Sino-Ocean Group Holding HKD 27,781 0.0073,503 Sinopec Shanghai Petrochemical – H – HKD 34,507 0.00

255,140 Sinotruk Hong Kong HKD 162,478 0.0155,708 Tencent Holdings HKD 1,746,878 0.14

139,181 Tianneng Power International HKD 100,201 0.01293,312 Times Property Holdings HKD 160,761 0.01

55 Weibo – ADR – USD 3,180 0.0022,596 Weiqiao Textile – H – HKD 14,161 0.0058,884 Yanzhou Coal Mining – H – HKD 46,295 0.0012,619 Yirendai – ADR – USD 276,596 0.02



34,477,914 2.82Colombia


168,743 0.01Denmark

645 ALK-Abello DKK 84,300 0.0145,457 Danske Bank DKK 1,530,933 0.1236,993 Dfds DKK 1,726,004 0.1420,175 DSV DKK 1,085,400 0.09

1,488 FLSmidth & Co DKK 82,311 0.014,649 H Lundbeck DKK 228,481 0.021,034 Jyske Bank DKK 52,448 0.001,018 NKT DKK 71,501 0.01

23,689 Novo Nordisk – ADR – USD 890,807 0.0740,945 Novo Nordisk – B – DKK 1,535,360 0.1314,527 Pandora DKK 1,187,000 0.10

414 Rockwool International – B – DKK 79,824 0.0116,031 Spar Nord Bank DKK 184,134 0.01

507,470 TDC DKK 2,584,097 0.2127,272 Vestas Wind Systems DKK 2,204,480 0.18

13,527,080 1.11






Currency Market

Value

% of

Net

Assets

SHARES EUR %Finland

1,451 Cargotec – B – EUR 80,607 0.0124,589 Kone – B – EUR 1,095,186 0.09

363,323 Nokia EUR 1,945,596 0.1610,113 Nokian Renkaat EUR 366,476 0.03

8,664 Sampo – A – EUR 388,773 0.0387,424 UPM-Kymmene EUR 2,182,104 0.18

3,492 Valmet EUR 59,398 0.007,420 YIT EUR 54,311 0.00

6,172,451 0.50France

79,340 Alstom EUR 2,428,605 0.2024,148 Altran Technologies EUR 344,597 0.0339,627 Amundi EUR 2,510,339 0.2127,064 Arkema EUR 2,528,618 0.2116,979 Atos EUR 2,086,754 0.17

1,648 BioMerieux EUR 312,203 0.03122,162 BNP Paribas EUR 7,703,554 0.63

61,099 Bouygues EUR 2,255,757 0.1825,683 Capgemini EUR 2,323,794 0.1949,983 Cie de Saint-Gobain EUR 2,338,197 0.1927,720 Cie Generale des Etablissements


1,784 Criteo – ADR – USD 76,738 0.0158,053 Danone – ADR – USD 764,499 0.0620,168 Elior Group EUR 513,080 0.0428,716 Elis EUR 576,052 0.05


4,396 Fonciere Des Regions EUR 357,069 0.034,563 Gecina EUR 626,732 0.054,612 ICADE EUR 339,013 0.03

28,323 Klepierre EUR 1,016,378 0.0850,936 Legrand EUR 3,119,841 0.25

3,638 L’Oreal EUR 663,509 0.052,047 Nexans EUR 98,042 0.011,533 Nexity EUR 78,010 0.017,628 Pernod Ricard EUR 894,399 0.07

42,831 Publicis Groupe EUR 2,797,279 0.2330,565 Renault EUR 2,422,286 0.20

0 Rubis EUR 0 0.0072,540 Sanofi EUR 6,075,939 0.5076,300 Schneider Electric EUR 5,132,709 0.42

124,511 Societe Generale EUR 5,865,693 0.4815,873 Sodexo EUR 1,796,846 0.15

1,570 Tarkett EUR 63,887 0.0014,482 Technicolor EUR 55,291 0.00

8,532 Television Francaise 1 EUR 104,596 0.01210,451 TOTAL EUR 9,109,386 0.74

11,085 Unibail-Rodamco (traded in France) EUR 2,445,893 0.201,433 Unibail-Rodamco (traded in Netherlands) EUR 316,151 0.03

30,798 Valeo EUR 1,816,799 0.15163,158 Vallourec EUR 867,836 0.07

15,978 Vinci EUR 1,194,001 0.107,898 Worldline EUR 236,943 0.02

84,642,774 6.92Germany

38,376 Aareal Bank EUR 1,332,042 0.1113,676 adidas EUR 2,294,193 0.19

7,386 Adidas – ADR – USD 621,476 0.0527,217 Allianz EUR 4,692,255 0.3817,833 alstria office REIT EUR 211,059 0.02

5,752 Aurubis EUR 395,483 0.0331,206 BASF EUR 2,530,458 0.2175,173 Bayer EUR 8,509,623 0.7024,477 Bayerische Motoren Werke EUR 1,989,464 0.16

7,630 Beiersdorf EUR 702,285 0.065,548 Brenntag EUR 281,162 0.021,117 Carl Zeiss Meditec EUR 50,741 0.00

21,599 Continental EUR 4,081,220 0.331,389 CTS Eventim & Co EUR 53,767 0.00

34,388 Deutsche Boerse EUR 3,178,104 0.266,861 Deutsche Euroshop EUR 236,759 0.02

65,344 Deutsche Post EUR 2,144,584 0.18149,193 Deutsche Telekom EUR 2,345,313 0.19

45,217 Deutsche Wohnen EUR 1,514,324 0.1226,917 Fresenius & Co EUR 2,020,398 0.17


190






Currency Market

Value

% of

Net

Assets


3,253 FUCHS PETROLUB – Pref – EUR 155,079 0.0132,130 Infineon Technologies EUR 593,923 0.0513,648 KION Group EUR 913,324 0.07

6,647 Kloeckner & Co EUR 61,288 0.017,603 LEG Immobilien EUR 625,785 0.05

15,482 Merck EUR 1,637,220 0.1315,552 MTU Aero Engines EUR 1,920,721 0.1614,181 Muenchener


27,837 ProSiebenSat.1 Media EUR 1,019,929 0.08138,299 RWE EUR 2,412,626 0.20114,666 Salzgitter EUR 4,095,284 0.34

99,045 Schaeffler – Pref – EUR 1,242,028 0.1032,615 Siemens EUR 3,925,241 0.32

1,486 Stroeer EUR 77,935 0.0116,715 TAG Immobilien EUR 230,081 0.02

2,017 Uniper EUR 33,145 0.0013,866 United Internet EUR 667,565 0.0516,132 Volkswagen – Pref – EUR 2,151,139 0.1858,642 Vonovia EUR 2,038,689 0.17

590 Wacker Chemie EUR 56,097 0.0028,950 Wirecard EUR 1,613,115 0.13

67,158,624 5.49Greece

3,433 JUMBO EUR 54,933 0.011,715 Motor Oil Hellas Corinth Refineries EUR 32,698 0.00

87,631 0.01Hong Kong106,065 AIA Group HKD 679,611 0.06167,563 BOC Hong Kong Holdings HKD 702,914 0.06

75,357 Cheung Kong Property Holdings HKD 517,546 0.04618,372 China Agri-Industries Holdings HKD 225,023 0.02232,643 China Everbright HKD 444,192 0.04196,213 China Resources Cement Holdings HKD 85,505 0.01223,528 China Resources Land HKD 571,144 0.05952,109 China Unicom Hong Kong HKD 1,240,443 0.10147,657 Chow Tai Fook Jewellery Group HKD 137,148 0.01


129,070 Giordano International HKD 64,508 0.00146,285 Haier Electronics Group HKD 333,524 0.03

91,384 Hang Lung Group HKD 331,516 0.03304,769 Hang Lung Properties HKD 667,479 0.05152,022 Henderson Land Development HKD 743,577 0.06162,577 Hongkong Land Holdings USD 1,049,115 0.09

84,592 Hysan Development HKD 353,906 0.0392,959 K Wah International Holdings HKD 49,488 0.00

183,697 Kingboard Chemical Holdings HKD 641,646 0.05172,227 Kingboard Laminates Holdings HKD 182,215 0.01293,108 Link REIT HKD 1,955,449 0.16


165,432 Nine Dragons Paper Holdings HKD 193,235 0.02185,451 Peace Mark Holdings HKD 0 0.00207,382 Shimao Property Holdings HKD 311,179 0.03427,583 Sino Land HKD 614,699 0.05276,631 Skyworth Digital Holdings HKD 150,686 0.01

43,443 Sun Art Retail Group HKD 30,349 0.00154,303 Swire Properties HKD 446,256 0.04533,356 WH Group HKD 472,037 0.04234,690 Wharf Holdings HKD 1,705,418 0.14162,265 Wheelock & Co HKD 1,073,423 0.09


17,307,074 1.42Hungary


144,503 0.01India

14,410 Adani Enterprises INR 25,919 0.0045,014 Balrampur Chini Mills INR 92,199 0.0142,705 Bharat Petroleum INR 370,383 0.0324,264 Chennai Petroleum INR 116,493 0.0132,512 Emami INR 474,329 0.0450,216 HDFC Bank INR 1,125,305 0.09






Currency Market

Value

% of

Net

Assets


2,924 Hero MotoCorp INR 146,831 0.01101,023 Hindalco Industries INR 261,662 0.02

44,313 Hindustan Petroleum INR 306,763 0.0235,724 ICICI Bank INR 140,600 0.0161,835 Indian Oil INR 323,088 0.0310,277 IndusInd Bank INR 206,162 0.02

129,333 ITC INR 567,789 0.0544,505 Lupin INR 639,810 0.0527,231 Mahindra & Mahindra Financial Services INR 127,417 0.01

133,226 NTPC INR 287,245 0.02147,227 Oil & Natural Gas INR 314,135 0.03


20,294 Power Grid of India INR 57,959 0.000 Punjab National Bank INR 0 0.00

8,589 Rajesh Exports INR 80,324 0.010 Reliance Infrastructure INR 0 0.00

184,185 Rural Electrification INR 429,593 0.0482,683 State Bank of India INR 306,910 0.0220,760 Sun Pharmaceutical Industries INR 156,480 0.0125,164 Tata Motors INR 147,645 0.0174,221 Tata Motors – A – INR 265,080 0.02

8,684 Tata Steel INR 64,284 0.0119,426 UPL INR 221,445 0.02


8,724,473 0.71Indonesia

11,854,036 Ace Hardware Indonesia IDR 826,626 0.071,569,507 Adaro Energy IDR 163,139 0.012,036,202 Astra International IDR 1,195,546 0.101,021,014 Bank Negara Indonesia Persero IDR 443,315 0.041,798,186 Bank Rakyat Indonesia Persero IDR 1,804,020 0.15

949,690 Cikarang Listrindo IDR 74,972 0.00788,979 Delta Dunia Makmur IDR 44,119 0.00242,528 Gajah Tunggal IDR 18,029 0.00


1,011,238 Indofood CBP Sukses Makmur IDR 585,427 0.054,552,666 Mayora Indah IDR 661,904 0.05

766,499 Perusahaan Gas Negara Persero IDR 113,457 0.0130,956 United Tractors IDR 55,901 0.00

1,492,476 XL Axiata IDR 334,810 0.03

6,496,453 0.53Ireland


1,979 ICON USD 169,669 0.0133,505 Medtronic USD 2,607,178 0.2112,749 Origin Enterprises EUR 81,378 0.01

5,717 Paddy Power Betfair EUR 534,354 0.0474,319 Ryanair Holdings EUR 1,334,764 0.11

6,813,711 0.56Isle Of Man


124,026 0.01Italy

15,993 Anima Holding EUR 100,354 0.0188,743 Azimut Holding EUR 1,557,435 0.1312,994 BPER Banca EUR 56,733 0.00

2,021 Cerved Information Solutions EUR 18,939 0.0020,145 Danieli & C Officine Meccaniche EUR 430,093 0.0480,759 Danieli & C Officine Meccaniche – RSP

– EUR 1,266,296 0.101,794 De’ Longhi EUR 49,224 0.003,933 DiaSorin EUR 264,490 0.02

606,182 Enel EUR 2,845,417 0.23398,553 Eni EUR 5,244,954 0.43

19,031 FinecoBank Banca Fineco EUR 131,124 0.01996,030 Intesa Sanpaolo EUR 2,764,980 0.23


95,749 UniCredit EUR 1,565,504 0.132,794 Yoox Net-A-Porter Group EUR 67,666 0.01

16,815,163 1.37


191






Currency Market

Value

% of

Net

Assets

SHARES EUR %Japan



3,321 Air Water JPY 53,482 0.0012,302 Ariake Japan JPY 751,668 0.06

6,551 Asahi Kasei JPY 61,722 0.017,972 Astellas Pharma JPY 85,499 0.012,000 Bandai Namco Holdings JPY 59,786 0.014,011 Bridgestone JPY 151,485 0.011,728 Capcom JPY 35,907 0.00

671 Central Japan Railway JPY 95,825 0.0164,237 CYBERDYNE JPY 749,376 0.0653,561 Daiken Medical JPY 335,614 0.0384,937 Daiwa House Industry JPY 2,543,744 0.21


1,347 East Japan Railway JPY 112,907 0.013,295 Electric Power Development JPY 71,437 0.011,911 FANUC JPY 322,994 0.03

64 Frontier Real Estate Investment JPY 232,252 0.0221,819 Fujitsu JPY 140,937 0.01

353 GLP J-REIT JPY 333,460 0.0316,695 Gunosy JPY 303,144 0.0213,156 HEALIOS JPY 157,998 0.0119,551 Hitachi JPY 105,175 0.01

4,626 Hitachi Capital JPY 97,530 0.018,297 Honda Motor JPY 198,373 0.02


42,478 IHI JPY 126,620 0.0145 Industrial & Infrastructure Fund

Investment JPY 178,153 0.01485 Invincible Investment JPY 182,916 0.02

8,964 Isuzu Motors JPY 96,951 0.015,104 Japan Airlines JPY 138,373 0.01

152 Japan Excellent JPY 148,279 0.01483 Japan Hotel REIT Investment JPY 299,733 0.02128 Japan Logistics Fund JPY 233,447 0.02120 Japan Prime Realty Investment JPY 364,075 0.03178 Japan Real Estate Investment JPY 774,325 0.06239 Japan Rental Housing Investments JPY 154,764 0.01348 Japan Retail Fund Investment JPY 563,871 0.05

4,464 Japan Tobacco JPY 137,503 0.014,630 JSR JPY 69,976 0.01

37,663 JXTG Holdings JPY 144,212 0.0127,187 Kakaku.com JPY 342,196 0.03

57 Kenedix Office Investment JPY 268,860 0.0261 Kenedix Retail REIT JPY 113,813 0.01


7,352 Leopalace21 JPY 40,043 0.0047,644 M3 JPY 1,150,646 0.09

1,018 Matsumotokiyoshi Holdings JPY 50,753 0.007,189 Mitsubishi JPY 132,174 0.01

175,993 Mitsubishi Estate JPY 2,875,030 0.2444,835 Mitsubishi UFJ Financial Group JPY 264,072 0.02

183,448 Mitsubishi UFJ Financial Group – ADR – USD 1,085,681 0.09127,427 Mitsui Fudosan JPY 2,665,337 0.22


5,572 Nidec JPY 500,420 0.04650 Nintendo JPY 191,123 0.02

64 Nippon Accommodations Fund JPY 234,373 0.02181 Nippon Building Fund JPY 811,716 0.07211 Nippon Prologis REIT JPY 394,494 0.03

1,240 Nippon Shinyaku JPY 69,547 0.012,242 Nippon Shokubai JPY 126,506 0.018,692 Nippon Suisan Kaisha JPY 44,562 0.007,100 Nippon Telegraph & Telephone JPY 294,182 0.025,652 Nissan Motor JPY 49,311 0.007,727 Nitori Holdings JPY 906,860 0.07

10,066 Nitto Denko JPY 725,748 0.06516 Nomura Real Estate Master Fund JPY 618,362 0.05

16,579 NTT Urban Development JPY 140,235 0.011,159 Oracle Japan JPY 65,927 0.01

81,552 ORIX JPY 1,107,275 0.09341 Orix JREIT JPY 442,032 0.04






Currency Market

Value

% of

Net

Assets


912 Otsuka Holdings JPY 34,090 0.0011,333 Panasonic JPY 134,768 0.0140,140 PeptiDream JPY 1,113,514 0.0930,766 Pigeon JPY 977,107 0.08

148 Premier Investment JPY 126,969 0.014,880 Rinnai JPY 398,719 0.032,051 SCREEN Holdings JPY 120,024 0.015,023 Seven & i Holdings JPY 181,384 0.01

700 Shimamura JPY 75,205 0.0113,461 SoftBank Group JPY 955,576 0.08

6,527 Sosei Group JPY 629,044 0.0546,668 Start Today JPY 1,006,901 0.0813,136 Sumco JPY 166,778 0.0110,829 Sumitomo Electric Industries JPY 146,182 0.01

7,810 Sumitomo Metal Mining JPY 91,449 0.013,351 Sumitomo Mitsui Trust Holdings JPY 105,087 0.01

60,743 Sumitomo Realty & Development JPY 1,642,368 0.136,975 Sysmex JPY 365,196 0.03

23,974 TechnoPro Holdings JPY 845,593 0.0727,786 Tokyo Tatemono JPY 319,156 0.0314,381 Toray Industries JPY 105,517 0.01

3,819 TV Asahi Holdings JPY 60,354 0.01396 United Urban Investment JPY 495,694 0.04

22,509 Yahoo Japan JPY 85,889 0.0118,021 Yamada Denki JPY 78,465 0.01

605 Yamato Kogyo JPY 13,589 0.00

39,943,749 3.27Jordan



84,741 ArcelorMittal EUR 1,682,951 0.1414,681 Grand City Properties EUR 257,579 0.02

1,940,530 0.16Malaysia602,814 AirAsia MYR 400,154 0.03412,799 CIMB Group Holdings MYR 554,784 0.05


1,132,968 0.09Malta

9,747 Brait ZAR 39,475 0.00

39,475 0.00Mexico





1,314 ASM International EUR 67,025 0.0015,464 ASML Holding EUR 1,764,417 0.1434,555 Euronext EUR 1,570,505 0.13

5,609 Fugro – CVA – EUR 72,914 0.0115,364 Heineken EUR 1,307,911 0.11



664,250 Koninklijke KPN EUR 1,860,565 0.15135,556 Koninklijke Philips (traded in

Netherlands) EUR 4,215,102 0.3473,117 Koninklijke Philips (traded in

United States) USD 2,296,296 0.1974,308 Philips Lighting EUR 2,401,646 0.2057,065 Randstad Holding EUR 2,917,168 0.2494,869 Royal Dutch Shell – A – (traded in


Kingdom) GBP 2,095,093 0.171,443 TKH Group EUR 70,172 0.017,649 Van Lanschot – CVA – EUR 185,862 0.01


192






Currency Market

Value

% of

Net

Assets


4,795 Wereldhave EUR 205,845 0.0255,495 Wolters Kluwer EUR 2,056,943 0.17

34,245,617 2.80New Zealand


363,246 0.03Norway279,835 DNB NOK 4,159,151 0.34



2,554,124 Emperador PHP 334,620 0.03102,094 Jollibee Foods PHP 361,883 0.03198,603 Metropolitan Bank & Trust PHP 301,949 0.03125,252 Puregold Price Club PHP 96,955 0.01

1,337,045 SM Prime Holdings PHP 766,652 0.064,109,332 Vista Land & Lifescapes PHP 414,845 0.03

2,276,904 0.19Poland



14,711 NOS SGPS EUR 78,176 0.01

78,176 0.01Romania


334,342 0.03Russia107,876 Alrosa RUB 138,118 0.01

146,210,463 Federal Grid Unified Energy System RUB 370,723 0.035,864,251 Inter RAO UES RUB 332,515 0.03

9,567 Lukoil – ADR – (traded in UnitedKingdom) USD 408,484 0.03

32,962 Lukoil – ADR – (traded in United States) USD 1,410,023 0.126,516 Novolipetsk Steel – GDR – USD 110,597 0.013,861 Ros Agro – GDR – USD 39,442 0.004,533 Severstal – GDR – USD 52,140 0.008,994 Tatneft – ADR – USD 297,293 0.03

3,159,335 0.26Singapore330,650 Ascendas Real Estate Investment Trust SGD 549,551 0.04353,835 CapitaLand SGD 788,621 0.06295,485 CapitaLand Commercial Trust SGD 312,351 0.03371,742 CapitaLand Mall Trust SGD 467,528 0.04

66,439 City Developments SGD 453,962 0.0440,713 DBS Group Holdings SGD 537,707 0.04

370,198 Global Logistic Properties SGD 674,216 0.06183,478 Mapletree Commercial Trust SGD 186,356 0.02322,839 Suntec Real Estate Investment Trust SGD 384,438 0.03





703,697 Redefine Properties ZAR 495,373 0.0435,665 Resilient REIT ZAR 290,544 0.0264,463 Sappi ZAR 375,676 0.0349,392 Standard Bank Group ZAR 476,071 0.04



420 BGF retail KRW 32,540 0.009,844 DMS KRW 71,290 0.01

16,487 Dongbu HiTek KRW 284,271 0.026,248 Dongbu Insurance KRW 325,592 0.031,797 Dongkuk Steel Mill KRW 20,180 0.005,488 Doosan Bobcat KRW 149,716 0.013,850 E-MART KRW 691,776 0.06

52,746 Hana Financial Group KRW 1,828,979 0.15






Currency Market

Value

% of

Net

Assets

SHARES EUR %South Korea (continued)

11,387 Hankook Tire KRW 554,979 0.050 Hyundai Marine & Fire Insurance KRW 0 0.00



44,514 KB Financial Group KRW 1,968,207 0.164,668 Korea Aerospace Industries KRW 203,886 0.02


4,289 KT KRW 107,145 0.0115,911 KT – ADR – USD 232,137 0.02

898 KT&G KRW 80,530 0.019,250 Kumho Petrochemical KRW 520,971 0.04

12,485 LG Electronics KRW 767,310 0.062,876 LG Innotek KRW 363,656 0.031,784 LG Uplus KRW 21,323 0.00


7,326 POSCO KRW 1,611,305 0.133,109 Samsung Electronics KRW 5,663,429 0.461,005 Samsung Electronics – Pref – KRW 1,433,360 0.123,465 SD Biotechnologies KRW 34,125 0.001,035 Shinhan Financial Group KRW 39,109 0.00

240 SK Holdings KRW 51,033 0.0031,808 SK Hynix KRW 1,642,832 0.13

2,209 SK Innovation KRW 268,328 0.026,429 S-Oil KRW 467,012 0.04

43,004 Woori Bank KRW 608,003 0.05

20,599,719 1.68Spain


9,382 Aena EUR 1,602,854 0.1381,069 Amadeus IT Group EUR 4,243,947 0.35

224,201 Banco Bilbao Vizcaya Argentaria – ADR– USD 1,643,349 0.13

407,000 Banco Santander EUR 2,357,341 0.19303,377 Bankia EUR 1,283,892 0.11



1,390 Grupo Catalana Occidente EUR 51,211 0.0073,212 Indra Sistemas EUR 925,038 0.0851,711 Industria de Diseno Textil EUR 1,737,995 0.1432,508 Inmobiliaria Colonial EUR 247,974 0.02

4,652 Melia Hotels International EUR 60,893 0.0141,439 Merlin Properties Socimi EUR 458,318 0.04

166,711 Repsol EUR 2,233,925 0.187,649 Viscofan EUR 396,214 0.03

22,870,830 1.87Sri Lanka

1,410,767 Lanka Orix Leasing LKR 908,658 0.07936,885 Sampath Bank LKR 1,532,128 0.13

2,440,786 0.20Sweden

12,297 Ahlsell SEK 73,822 0.0154,908 Assa Abloy – B – SEK 1,056,492 0.0927,757 Atlas Copco – A – SEK 931,955 0.0832,735 Castellum SEK 420,925 0.0374,483 Cloetta – B – SEK 268,666 0.02

9,183 Dometic Group SEK 69,871 0.0117,885 Fabege SEK 301,176 0.0211,530 Fastighets Balder – B – SEK 244,512 0.0213,604 Hufvudstaden – A – SEK 197,557 0.0271,171 Intrum Justitia SEK 2,115,892 0.1733,827 Lundin Petroleum SEK 569,986 0.05

5,222 Nobia SEK 46,143 0.00181,979 Sandvik SEK 2,506,461 0.20

52,929 Swedbank – A – SEK 1,129,542 0.0991,002 Telefonaktiebolaget LM Ericsson – B – SEK 569,944 0.05


11,240,108 0.92


193






Currency Market

Value

% of

Net

Assets

SHARES EUR %Switzerland

1,721 Aryzta CHF 49,676 0.0053 Belimo Holding CHF 201,420 0.02

11,422 Chubb USD 1,455,945 0.128,546 Cie Financiere Richemont CHF 618,091 0.05

168,173 Credit Suisse Group CHF 2,134,020 0.17933 Daetwyler Holding CHF 138,963 0.01

7,668 Dufry CHF 1,102,922 0.0934 Forbo Holding CHF 49,208 0.00

5,209 GAM Holding CHF 61,281 0.001,844 Geberit CHF 755,100 0.06

402 Inficon Holding CHF 174,078 0.0126,099 Julius Baer Group CHF 1,205,481 0.10

3,845 Kuehne & Nagel International CHF 563,215 0.0545,779 LafargeHolcim CHF 2,301,025 0.19

119 LEM Holding CHF 134,739 0.0174,635 Logitech International CHF 2,408,687 0.2034,359 Novartis CHF 2,510,242 0.2126,101 Novartis – ADR – USD 1,910,137 0.16

8,227 OC Oerlikon CHF 94,905 0.015,146 Partners Group Holding CHF 2,801,130 0.234,814 PSP Swiss Property CHF 394,882 0.03

31,161 Roche Holding CHF 6,966,810 0.571,607 Schindler Holding CHF 298,543 0.02

566 SFS Group CHF 56,363 0.000 STMicroelectronics EUR 0 0.00

9,229 Swiss Prime Site CHF 735,969 0.062,034 Tecan Group CHF 335,803 0.032,345 Temenos Group CHF 183,749 0.02

247,839 UBS Group CHF 3,684,980 0.3021,882 Wolseley GBP 1,174,510 0.10

34,501,874 2.82Taiwan242,794 Advanced Semiconductor Engineering TWD 273,266 0.02

31,962 Airtac International Group TWD 331,177 0.031,140,731 AU Optronics TWD 457,009 0.04

2,574 Catcher Technology TWD 26,964 0.00402,411 Cathay Financial Holding TWD 581,078 0.05



88,150 CTCI TWD 131,607 0.0191,713 Delta Electronics TWD 440,119 0.04

125,593 E Ink Holdings TWD 102,442 0.0158,473 Formosa Chemicals & Fibre TWD 160,947 0.0112,559 Formosa Plastics TWD 33,556 0.00

611,213 Fubon Financial Holding TWD 853,518 0.0770,208 General Interface Solution Holding TWD 455,300 0.04

273,936 Grand Pacific Petrochemical TWD 167,383 0.0194,400 Hannstar Board TWD 44,486 0.00

381,587 Hon Hai Precision Industry TWD 1,286,783 0.111,102,539 Innolux TWD 505,263 0.04

8,406 Largan Precision TWD 1,175,026 0.10182,717 Lite-On Technology TWD 263,316 0.02

71,752 Macronix International TWD 34,537 0.0043,668 MediaTek TWD 327,866 0.0330,352 Merry Electronics TWD 165,339 0.01

0 Micro-Star International TWD 0 0.00236,979 Nanya Technology TWD 374,297 0.03223,684 Pegatron TWD 614,403 0.05



1,453,478 Shin Kong Financial Holding TWD 339,328 0.0318,708 St Shine Optical TWD 342,931 0.0399,219 Taiwan Semiconductor Manufacturing TWD 596,250 0.0535,506 Taiwan Semiconductor Manufacturing –

ADR – USD 1,088,315 0.09123,051 Tripod Technology TWD 343,665 0.03669,347 Winbond Electronics TWD 352,080 0.03456,951 Wistron TWD 407,621 0.03


14,405,146 1.18






Currency Market

Value

% of

Net

Assets

SHARES EUR %Thailand



548,972 Major Cineplex Group THB 478,205 0.04103,686 PTT – NVDR – THB 990,175 0.08

85,866 PTT Exploration & Production – NVDR– THB 191,149 0.02

339,800 PTT Global Chemical – NVDR – THB 600,765 0.05387,896 Sansiri – NVDR – THB 22,626 0.00

1,934 Siam Cement THB 25,058 0.00468 Siam Cement – NVDR – THB 6,091 0.00

191,601 Star Petroleum Refining – NVDR – THB 72,201 0.0177,404 Supalai – NVDR – THB 51,943 0.00


3,648,075 0.30Turkey

26,757 Haci Omer Sabanci Holding TRY 72,791 0.0135,713 KOC Holding TRY 143,825 0.0128,653 Soda Sanayii TRY 46,784 0.0013,923 Tekfen Holding TRY 30,220 0.0035,253 Trakya Cam Sanayii TRY 33,957 0.0010,305 Tupras Turkiye Petrol Rafinerileri TRY 259,576 0.02



37,220 Abu Dhabi Commercial Bank AED 62,282 0.00351,402 Aldar Properties AED 192,932 0.02137,309 DAMAC Properties Dubai AED 103,575 0.01266,733 Dubai Investments AED 132,437 0.01



8,310 Alfa Financial Software Holdings GBP 43,794 0.00114,349 Amec Foster Wheeler GBP 608,432 0.05

13,510 Ashmore Group GBP 54,343 0.0013,826 ASOS GBP 905,240 0.07

132,815 Auto Trader Group GBP 574,790 0.05296,395 Aviva GBP 1,775,554 0.15543,844 Balfour Beatty GBP 1,676,023 0.14651,883 Barclays GBP 1,505,248 0.12

44,247 Berendsen GBP 619,824 0.05316,195 BP GBP 1,594,558 0.13


6,895 Burford Capital GBP 70,755 0.0166,214 Capital & Counties Properties GBP 220,724 0.0254,884 Compass Group GBP 1,012,599 0.08

406,239 ConvaTec Group GBP 1,476,803 0.1215,247 Derwent London GBP 460,843 0.0412,318 Diploma GBP 155,013 0.0164,021 Electrocomponents GBP 420,703 0.03

2,856 Ferroglobe USD 29,921 0.004,090 Galliford Try GBP 54,081 0.00

697,653 GKN GBP 2,590,209 0.21344,265 GlaxoSmithKline GBP 6,412,419 0.53



0 Imagination Technologies Group GBP 0 0.0074,037 Imperial Brands GBP 2,907,762 0.2489,702 Intu Properties GBP 274,911 0.0232,905 Jardine Lloyd Thompson Group GBP 449,702 0.0418,352 John Laing Group GBP 63,331 0.0143,481 Johnson Matthey GBP 1,421,711 0.12



194






Currency Market

Value

% of

Net

Assets

SHARES EUR %United Kingdom (continued)608,693 Kingfisher GBP 2,084,536 0.17

1,322,706 Ladbrokes Coral Group GBP 1,724,831 0.14100,304 Land Securities Group GBP 1,157,195 0.10

1,012,763 Legal & General Group GBP 2,979,273 0.241,504 LivaNova USD 80,742 0.01

128,492 Merlin Entertainments GBP 703,151 0.0667,291 Micro Focus International GBP 1,740,419 0.14

197,071 National Grid GBP 2,136,220 0.1817,589 Pentair USD 1,026,121 0.08

120,045 Persimmon GBP 3,065,183 0.25171,558 Prudential GBP 3,440,704 0.28

36,976 Reckitt Benckiser Group GBP 3,277,898 0.2770,605 RELX EUR 1,270,884 0.10

108,345 Rentokil Initial GBP 337,229 0.03458,286 Royal Bank of Scotland Group GBP 1,290,218 0.11109,793 RSA Insurance Group GBP 769,625 0.06

29,453 Saga GBP 70,240 0.01147,353 Sage Group GBP 1,154,581 0.10

33,202 Schroders GBP 1,173,721 0.10118,501 Segro GBP 660,218 0.05


73,329 Smith & Nephew GBP 1,106,541 0.09101,999 Smiths Group GBP 1,855,151 0.15



24,241 SuperGroup GBP 412,732 0.0389,607 TechnipFMC EUR 2,127,709 0.17

1,340,193 Tesco GBP 2,576,426 0.2110,175 TP ICAP GBP 54,152 0.00

148,134 Travis Perkins GBP 2,454,689 0.20152,722 Tritax Big Box REIT GBP 254,288 0.02

50,043 UBM GBP 393,250 0.0330,495 Unilever USD 1,477,758 0.1276,591 Unilever – CVA – EUR 3,700,893 0.3030,067 UNITE Group GBP 222,239 0.02

2,173,747 Vodafone Group GBP 5,390,699 0.4415,998 WH Smith GBP 312,475 0.0314,547 Willis Towers Watson USD 1,855,207 0.15

405,755 Worldpay Group GBP 1,454,712 0.12335,979 WPP GBP 6,175,809 0.51


25,901 AbbVie USD 1,646,650 0.131,708 ABM Industries USD 62,184 0.01

31,213 Acadia Healthcare USD 1,351,365 0.1111,360 Acadia Realty Trust USD 276,892 0.02

7,231 ACCO Brands USD 73,862 0.0118,382 Adobe Systems USD 2,279,556 0.19

2,972 AECOM USD 84,258 0.012,397 Aegion USD 45,990 0.00

235,657 AES USD 2,295,516 0.193,173 AGNC Investment USD 59,237 0.014,341 Agree Realty USD 174,586 0.018,036 Air Lease USD 263,234 0.02

12,023 Alexandria Real Estate Equities USD 1,269,909 0.10167 Alleghany USD 87,166 0.01

5,706 Ally Financial USD 104,555 0.01932 Alphabet – A – USD 759,517 0.06934 Alphabet – C – USD 744,471 0.06

2,634 Amazon.com USD 2,235,818 0.181,760 AMC Networks – A – USD 82,404 0.012,463 Amdocs USD 139,175 0.014,659 American Assets Trust USD 160,894 0.01

18,001 American Campus Communities USD 746,541 0.065,044 American Express USD 372,581 0.03

32,158 American Homes 4 Rent – A – USD 636,357 0.0514,504 Ameriprise Financial USD 1,618,672 0.1311,735 Amgen USD 1,772,048 0.15

1,964 Analog Devices USD 133,958 0.0113,282 Ansys USD 1,416,972 0.12

5,912 Anthem USD 975,156 0.087,084 Anworth Mortgage Asset USD 37,330 0.00

21,496 Apartment Investment & Management –A – USD 809,855 0.07






Currency Market

Value

% of

Net

Assets


29,568 Apple Hospitality REIT USD 485,039 0.0430,123 Archer-Daniels-Midland USD 1,092,888 0.09

6,463 Ares Capital USD 92,823 0.019,108 Ares Commercial Real Estate USD 104,529 0.013,939 Arrow Electronics USD 270,819 0.02


29,625 AT&T USD 980,017 0.081,114 Athene Holding – A – USD 48,444 0.00

13,016 Autodesk USD 1,150,596 0.092,983 Automatic Data Processing USD 267,963 0.02

18,580 AvalonBay Communities USD 3,130,520 0.264,550 Avnet USD 155,088 0.01

40,182 Baker Hughes USD 1,920,403 0.1695,341 Bank of America USD 2,027,953 0.17

3,579 BankUnited USD 105,774 0.0138,868 Baxter International USD 2,063,089 0.17

713 Belden USD 47,138 0.003,435 Berry Global Group USD 171,714 0.011,768 Blackstone Mortgage Trust – A – USD 48,975 0.005,420 BMC Stock Holdings USD 103,832 0.01

12,007 BOK Financial USD 885,648 0.071,648 Booz Allen Hamilton Holding USD 47,022 0.00

20,204 Boston Properties USD 2,179,264 0.1823,197 Brandywine Realty Trust USD 356,529 0.03

8,445 Bristow Group USD 56,644 0.0038,320 Brixmor Property Group USD 600,732 0.0510,142 Brocade Communications Systems USD 112,128 0.0130,309 Brookfield Property Partners CAD 627,773 0.05

4,531 Brooks Automation USD 86,160 0.011,145 Brunswick USD 62,981 0.01

957 Cabot USD 44,824 0.0011,890 Camden Property Trust USD 891,433 0.0716,539 Cardinal Health USD 1,129,921 0.0911,669 Care Capital Properties USD 273,170 0.02

9,357 CareTrust REIT USD 152,106 0.011,078 Carlisle USD 90,157 0.012,028 Cars.com USD 47,359 0.00

26,198 CBL & Associates Properties USD 193,631 0.023,687 CDW USD 202,148 0.02

12,557 Centene USD 879,436 0.079,582 Cerner USD 558,437 0.05

10,318 Chatham Lodging Trust USD 181,737 0.021,006 Chemed USD 180,342 0.017,756 Chesapeake Lodging Trust USD 166,406 0.01

21,427 Chevron USD 1,960,034 0.164,296 Cigna USD 630,526 0.05

132,822 Cisco Systems USD 3,645,009 0.3053,044 Citigroup USD 3,110,397 0.2511,774 ClubCorp Holdings USD 135,237 0.0128,827 Coach USD 1,196,499 0.1045,762 Coca-Cola USD 1,799,521 0.15

1,266 Coherent USD 249,657 0.029,541 Colony NorthStar – A – USD 117,863 0.01

14,275 Colony Starwood Homes USD 429,431 0.041,257 Columbia Banking System USD 43,906 0.00

17,488 Columbia Property Trust USD 343,158 0.0382,319 Comcast – A – USD 2,809,047 0.23


28,612 Conagra Brands USD 897,070 0.072,258 Convergys USD 47,078 0.00

75,673 Corning USD 1,993,750 0.1612,543 Corporate Office Properties Trust USD 385,239 0.0360,098 Cousins Properties USD 463,162 0.04

973 Crown Holdings USD 50,902 0.0022,925 CubeSmart USD 483,210 0.0410,625 Cullen/Frost Bankers USD 874,871 0.07

970 Curtiss-Wright USD 78,021 0.01150,915 Cypress Semiconductor USD 1,806,141 0.15

11,983 CyrusOne USD 585,730 0.0521,081 CYS Investments USD 155,447 0.0171,951 Dana USD 1,408,682 0.1218,329 Danaher USD 1,356,163 0.1113,211 DCT Industrial Trust USD 619,004 0.0545,156 DDR USD 359,092 0.03

7,259 Deere & Co USD 786,604 0.062,160 Diamondback Energy USD 168,161 0.01


195






Currency Market

Value

% of

Net

Assets


2,328 Dick’s Sporting Goods USD 81,307 0.0121,210 Digital Realty Trust USD 2,100,457 0.1719,072 Douglas Emmett USD 638,942 0.0548,315 Dow Chemical USD 2,671,706 0.22

793 Dril-Quip USD 33,945 0.0049,725 Duke Realty USD 1,218,554 0.1010,971 DuPont Fabros Technology USD 588,285 0.05

4,279 E*TRADE Financial USD 142,671 0.013,662 East West Bancorp USD 188,083 0.023,321 Easterly Government Properties USD 60,996 0.014,113 EastGroup Properties USD 302,211 0.02

10,705 Education Realty Trust USD 363,708 0.0315,572 Empire State Realty Trust – A – USD 283,575 0.02

1,862 EnerSys USD 118,249 0.011,386 Envision Healthcare USD 76,155 0.019,712 EPR Properties USD 611,969 0.05

21,357 EQT USD 1,097,113 0.0916,699 Equity Commonwealth USD 462,650 0.0410,739 Equity LifeStyle Properties USD 812,935 0.0748,982 Equity Residential USD 2,827,123 0.23

5,914 Essent Group USD 192,577 0.028,964 Essex Property Trust USD 2,021,973 0.17

22,723 Expeditors International of Washington USD 1,125,220 0.0924,450 Extended Stay America USD 415,029 0.0316,640 Extra Space Storage USD 1,137,972 0.09

959 Extraction Oil & Gas USD 11,307 0.0014,598 Facebook – A – USD 1,932,346 0.16

3,688 FactSet Research Systems USD 537,284 0.041,795 FCB Financial Holdings – A – USD 75,160 0.019,669 Federal Realty Investment Trust USD 1,071,482 0.09

19,051 FelCor Lodging Trust USD 120,430 0.013,612 Ferro USD 57,922 0.005,021 Finish Line – A – USD 62,375 0.011,998 First American Financial USD 78,299 0.01

263 First Citizens BancShares – A – USD 85,853 0.0157,905 First Data – A – USD 924,002 0.0816,829 First Industrial Realty Trust USD 422,305 0.03

2,409 First Midwest Bancorp USD 49,227 0.0012,644 First Republic Bank USD 1,109,719 0.09

1,421 First Solar USD 49,675 0.004,009 FirstCash USD 204,905 0.02

11,446 Flex USD 163,672 0.011,505 FNF Group USD 59,157 0.001,226 FNFV Group USD 16,980 0.001,194 Foot Locker USD 51,577 0.00

27,838 Forest City Realty Trust – A – USD 589,927 0.0514,114 Franklin Street Properties USD 137,114 0.0190,696 Freeport-McMoRan USD 955,033 0.08

2,368 FTD Cos USD 41,526 0.001,258 FTI Consulting USD 38,562 0.004,268 Gardner Denver Holdings USD 80,873 0.01

152,788 General Electric USD 3,618,251 0.3085,718 GGP USD 1,770,650 0.1528,719 Gilead Sciences USD 1,782,256 0.15

8,137 Global Net Lease USD 158,676 0.019,556 Government Properties Income Trust USD 153,416 0.01

20,607 Gramercy Property Trust USD 536,793 0.041,491 Granite Construction USD 63,050 0.01

12,414 Graphic Packaging Holding USD 149,981 0.01810 Group 1 Automotive USD 44,955 0.00

3,085 Gulfport Energy USD 39,899 0.0030,229 Halliburton USD 1,131,993 0.09

2,533 Hanmi Financial USD 63,176 0.012,062 Hanover Insurance Group USD 160,216 0.01

46,595 Hartford Financial Services Group USD 2,147,641 0.1864,720 HCP USD 1,813,564 0.1514,533 Healthcare Realty Trust USD 435,156 0.0425,124 Healthcare Trust of America – A – USD 685,302 0.06

2,511 Heidrick & Struggles International USD 47,887 0.003,720 Hersha Hospitality Trust USD 60,375 0.01

14,061 Highwoods Properties USD 625,171 0.051,597 Hillenbrand USD 50,543 0.00

21,119 Home Depot USD 2,840,501 0.2319,720 Hudson Pacific Properties USD 591,136 0.05

441 Huntington Ingalls Industries USD 71,923 0.011,503 IAC/InterActiveCorp USD 136,039 0.015,902 Independence Realty Trust USD 51,071 0.00

569 Infinity Property & Casualty USD 46,922 0.00






Currency Market

Value

% of

Net

Assets


1,619 Insight Enterprises USD 56,783 0.001,233 Integra LifeSciences Holdings USD 58,931 0.00

30,217 Intel USD 893,890 0.0734,955 Intercontinental Exchange USD 2,020,264 0.1725,706 Invesco USD 793,110 0.07

6,343 Investors Bancorp USD 74,299 0.0111,577 Investors Real Estate Trust USD 63,036 0.01

1,012 Jacobs Engineering Group USD 48,271 0.009,486 Jagged Peak Energy USD 111,034 0.01

656 JELD-WEN Holding USD 18,663 0.0038,440 Johnson Controls International USD 1,461,354 0.1214,326 Jones Lang LaSalle USD 1,570,113 0.1352,472 JPMorgan Chase & Co USD 4,204,935 0.34

3,792 KAR Auction Services USD 139,536 0.0113,031 Kilroy Realty USD 858,615 0.0757,206 Kimco Realty USD 920,378 0.0810,731 Kite Realty Group Trust USD 178,113 0.0113,075 Kosmos Energy USD 73,484 0.0160,565 Kroger USD 1,238,327 0.1010,530 La Quinta Holdings USD 136,364 0.01

3,539 La-Z-Boy USD 100,844 0.013,072 LCI Industries USD 275,814 0.02


28,831 Lexington Realty Trust USD 250,510 0.0220,584 Liberty Property Trust USD 734,698 0.06

6,702 Life Storage USD 435,414 0.041,099 LifePoint Health USD 64,690 0.011,692 Lions Gate Entertainment – B – USD 38,989 0.001,806 Lithia Motors – A – USD 149,238 0.011,790 Live Nation Entertainment USD 54,687 0.005,652 LTC Properties USD 254,660 0.029,186 M&T Bank USD 1,304,301 0.11


607 ManpowerGroup USD 59,393 0.019,239 Martin Marietta Materials USD 1,802,967 0.15

855 MAXIMUS USD 46,950 0.0044,340 Medical Properties Trust USD 500,331 0.0449,494 Merck & Co USD 2,781,178 0.2319,519 MFA Financial USD 143,583 0.01

6,622 MGM Growth Properties – A – USD 169,475 0.0125,873 Microchip Technology USD 1,750,797 0.1431,715 Micron Technology USD 830,310 0.0780,225 Microsoft USD 4,848,480 0.4015,133 Mid-America Apartment Communities USD 1,398,171 0.11

2,513 Minerals Technologies USD 161,261 0.0134,320 Mondelez International – A – USD 1,299,624 0.1120,878 Monogram Residential Trust REIT USD 177,740 0.0134,377 Monster Beverage USD 1,497,389 0.12

6,343 MSCI USD 572,783 0.052,381 MTGE Investment USD 39,251 0.00

67,037 Mylan USD 2,281,679 0.1989,270 Nabors Industries USD 637,109 0.0526,989 National Fuel Gas USD 1,321,329 0.11

3,963 National General Holdings USD 73,320 0.015,562 National Health Investors USD 386,210 0.03


16,825 Navient USD 245,610 0.024,739 Navigant Consulting USD 82,112 0.012,300 Nelnet – A – USD 94,796 0.01

21,763 New York REIT USD 164,863 0.0126,064 Newfield Exploration USD 650,382 0.05

8,706 NorthStar Realty Europe USD 96,790 0.011,036 Nu Skin Enterprises – A – USD 57,095 0.00

12,934 Office Depot USD 63,959 0.012,913 Olin USD 77,339 0.01

27,336 Omega Healthcare Investors USD 791,417 0.062,539 On Assignment USD 120,527 0.01

78,554 ON Semiconductor USD 966,987 0.0829,670 Oracle USD 1,304,345 0.1127,201 Oshkosh USD 1,642,726 0.13

1,257 Owens & Minor USD 35,467 0.0027,855 Paramount Group USD 390,761 0.03

2,207 PAREXEL International USD 168,160 0.014,515 Parkway USD 90,610 0.019,735 Parsley Energy – A – USD 236,858 0.02


196






Currency Market

Value

% of

Net

Assets


26,829 PayPal Holdings USD 1,262,481 0.109,093 Pennsylvania Real Estate Investment

Trust USD 90,252 0.0116,862 PepsiCo USD 1,707,420 0.14

3,709 PharMerica USD 85,360 0.0121,304 Phillips 66 USD 1,544,541 0.1319,804 Physicians Realty Trust USD 349,704 0.0321,177 Piedmont Office Realty Trust – A – USD 391,395 0.03

8,984 Pioneer Natural Resources USD 1,256,967 0.10658 PolyOne USD 22,346 0.00

1,274 Portland General Electric USD 51,040 0.0013,882 PPG Industries USD 1,338,370 0.11

1,894 PRA Group USD 62,940 0.0116,807 Procter & Gamble USD 1,284,196 0.1171,176 Prologis USD 3,659,451 0.30

2,465 PS Business Parks USD 286,079 0.0220,428 Public Storage USD 3,734,973 0.31

2,599 PulteGroup USD 55,897 0.008,843 QEP Resources USD 78,305 0.016,627 QTS Realty Trust – A – USD 304,037 0.03

17,367 QUALCOMM USD 840,806 0.0713,704 Quality Care Properties USD 220,008 0.02

9,040 Radian Group USD 129,584 0.0111,545 Ramco-Gershenson Properties Trust USD 130,574 0.01

795 Raymond James Financial USD 55,884 0.001,590 Realogy Holdings USD 45,246 0.00

36,305 Realty Income USD 1,756,461 0.1420,798 Regency Centers USD 1,142,222 0.09

2,143 Regeneron Pharmaceuticals USD 922,987 0.081,409 Reinsurance Group of America USD 158,661 0.01


9,249 Rexford Industrial Realty USD 222,523 0.026,831 Rice Energy USD 159,486 0.01

17,437 RLJ Lodging Trust USD 303,773 0.037,713 RPX USD 94,337 0.013,268 RSP Permian USD 92,450 0.019,309 Sabra Health Care REIT USD 196,710 0.028,877 Schlumberger USD 512,458 0.04

894 Scholastic USD 34,185 0.003,399 Schweitzer-Mauduit International USD 110,962 0.011,352 Scripps Networks Interactive – A – USD 80,963 0.01

19,833 Seagate Technology USD 673,839 0.0618,163 Sealed Air USD 712,776 0.0620,204 SEI Investments USD 952,685 0.08

8,047 Select Income REIT USD 169,541 0.014,891 Select Medical Holdings USD 65,826 0.01

30,402 Senior Housing Properties Trust USD 544,843 0.043,539 Seritage Growth Properties – A – USD 130,154 0.012,170 Service International USD 63,647 0.01

41,461 Simon Property Group USD 5,880,288 0.487,051 Skechers U.S.A. – A – USD 182,374 0.02

13,654 SL Green Realty USD 1,266,566 0.109,514 SLM USD 95,931 0.01

67,644 Spirit Realty Capital USD 439,472 0.0411,252 STAG Industrial USD 272,285 0.02

6,508 Starwood Property Trust USD 127,750 0.0119,338 State Street USD 1,521,334 0.12

6,079 Steel Dynamics USD 190,858 0.024,891 Steven Madden USD 171,329 0.014,280 Stifel Financial USD 172,535 0.01

22,459 Store Capital USD 442,081 0.0415,979 Summit Hotel Properties USD 261,279 0.0210,025 Sun Communities USD 770,768 0.0610,197 SunCoke Energy USD 97,450 0.01


45,142 Synchrony Financial USD 1,180,242 0.101,281 SYNNEX USD 134,755 0.019,022 Tailored Brands USD 88,280 0.01

13,785 Tanger Factory Outlet Centers USD 314,004 0.036,664 Taubman Centers USD 347,951 0.032,802 TEGNA USD 35,396 0.005,404 TeleTech Holdings USD 193,305 0.02


45,474 Terex USD 1,495,125 0.126,344 Terreno Realty USD 187,218 0.02






Currency Market

Value

% of

Net

Assets


2,096 Tesoro USD 171,977 0.013,117 Tetra Tech USD 125,021 0.019,104 Tier REIT USD 147,512 0.01

10,057 Time Warner USD 885,351 0.07716 Torchmark USD 47,995 0.00

1,780 Tutor Perini USD 44,857 0.0026,109 Two Harbors Investment USD 226,853 0.0235,243 UDR USD 1,204,186 0.10

3,959 United Parcel Service – B – USD 383,917 0.032,029 Universal USD 115,105 0.01

14,851 Urban Edge Properties USD 308,983 0.035,972 Valvoline USD 124,205 0.01

461 Varex Imaging USD 13,657 0.0010,139 Varian Medical Systems USD 917,322 0.0848,247 Ventas USD 2,939,133 0.24

129,570 VEREIT USD 924,731 0.0814,452 Visa – A – USD 1,188,325 0.1023,285 Vornado Realty Trust USD 1,917,026 0.1624,492 Walgreens Boots Alliance USD 1,681,590 0.14

5,867 Walker & Dunlop USD 251,176 0.0222,804 Washington Prime Group USD 167,347 0.01

9,747 Washington Real Estate Investment Trust USD 272,611 0.0215,152 Weingarten Realty Investors USD 399,885 0.0349,842 Welltower USD 3,270,941 0.27

3,260 WESCO International USD 163,795 0.0124,638 Western Digital USD 1,913,950 0.16

9,597 WestRock USD 476,759 0.046,587 WildHorse Resource Development USD 71,444 0.01

10,350 World Fuel Services USD 348,931 0.0313,728 WP Carey USD 794,533 0.0730,175 Yum China Holdings USD 1,043,165 0.09

7,109 Yum! Brands USD 459,722 0.0439,985 Zions Bancorporation USD 1,539,365 0.13

247,951,409 20.29Vietnam

41,889 Taisun International Holding TWD 166,009 0.01203,147 Vietnam Dairy Products VND 1,234,907 0.10527,953 Vinh Hoan VND 1,201,473 0.10

2,602,389 0.21


810 Natixis Asset Management NatixisTresorerie Plus – IC – EUR 84,189,942 6.89



197





Currency Market

Value

% of

Net

Assets




INVESTMENTS 1,190,774,641 97.42



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(84) 10-Years US Note Future 09/17 USD (9,295,738) 53,088 0.00(62) 2-Years US Note Future 09/17 USD (11,747,649) 11,782 0.00

(148) 5-Years US Note Future 09/17 USD (15,338,925) 48,886 0.00(129) Bundesrepublik Deutschland Future BOBL 09/17 EUR (16,946,275) 195,146 0.02

(74) Bundesrepublik Deutschland Future BUND 09/17 EUR (11,935,249) 219,043 0.02(15) Bundesrepublik Deutschland Future BUXL 09/17 EUR (2,526,287) 59,056 0.01(66) Bundesrepublik Deutschland Future SCHATZ 09/17 EUR (7,363,449) 27,085 0.00(10) EUR/USD Currency Future 09/17 USD (1,231,868) (21,802) (0.00)

3 EURO STOXX 50 Index Future 09/17 EUR 95,333 (2,655) (0.00)(22) Euro-OAT Future 09/17 EUR (3,196,862) 29,347 0.00

1 FTSE 100 Index Future 09/17 GBP 101,860 (2,393) (0.00)(2) GBP/USD Currency Future 09/17 USD (157,052) (3,527) (0.00)

(16) Long Gilt Future 09/17 GBP (2,276,306) 33,355 0.0066 Mini MSCI Emerging Markets Future 09/17 USD 2,911,831 (19,013) (0.00)

8 S&P 500 E-mini Index Future 09/17 USD 851,892 (2,755) (0.00)(48) Short Euro-BTP Future 09/17 EUR (5,406,118) (13,724) (0.00)

3 Topix Index Future 09/17 JPY 388,224 1,433 0.00(6) US Long Bond Future 09/17 USD (853,872) 4,983 0.00



Purchased Sold


in Fund% ofNet


9,987,798 EUR 8,771,085 GBP 26/07/2017 3,139 0.00237,344 EUR 208,983 GBP 26/07/2017 (554) (0.00)

821 EUR 723 GBP 26/07/2017 (3) 0.003,993,308 EUR 4,460,393 USD 26/07/2017 86,777 0.01

64,694 EUR 72,901 USD 26/07/2017 845 0.0047 EUR 53 USD 26/07/2017 1 0.00

48,595 EUR 55,524 USD 26/07/2017 (34) (0.00)100,688 GBP 114,278 EUR 26/07/2017 342 0.00

36,425 GBP 41,476 EUR 26/07/2017 (12) 0.0018,382 USD 16,458 EUR 26/07/2017 (358) (0.00)

143,052 USD 125,200 EUR 26/07/2017 89 0.00




TOTAL NET ASSETS 1,222,273,319 100.00



198








Date

Market

Value

% of

Net

Assets













402,564 0.12Belgium








716,231 0.22Bermuda

20,452 Digicel USD 6.000% 15/04/21 17,259 0.0022,497 Kosmos Energy USD 7.875% 01/08/21 20,218 0.0122,702 Kosmos Energy (traded in


57,879 0.02Canada


32,314 Concordia International USD 7.000% 15/04/23 4,250 0.0020,452 First Quantum Minerals USD 7.250% 01/04/23 17,573 0.0020,452 First Quantum Minerals USD 7.500% 01/04/25 17,573 0.0192,034 Jupiter Resources USD 8.500% 01/10/22 60,923 0.0230,678 Kinross Gold USD 4.500% 15/07/27 26,897 0.0120,452 Kinross Gold USD 6.875% 01/09/41 19,231 0.016,279 New Gold USD 6.375% 15/05/25 5,684 0.00











Date

Market

Value

% of

Net

Assets

BONDS EUR %Cayman Islands (continued)





178,324 0.05Cyprus


13,171 0.00Denmark

17,758 Danske Bank GBP 5.375% 29/09/21 21,297 0.0187,201 DONG Energy EUR 3.000% 31/12/49 91,197 0.038,939 DONG Energy EUR 6.250% 31/12/49 10,659 0.00

39,697 Welltec USD 8.000% 01/02/19 33,848 0.01

157,001 0.05Finland






492 Finland Government Bond EUR 2.750% 04/07/28 597 0.0041,714 Kojamo EUR 1.500% 19/06/24 41,451 0.016,079 Nokia USD 3.375% 12/06/22 5,384 0.00

22,459 Nokia EUR 2.000% 15/03/24 22,871 0.01

130,249 0.04France




32,865 AXA GBP 5.453% 29/11/49 41,240 0.0144,918 BPCE USD 5.700% 22/10/23 43,901 0.0112,472 BPCE USD 4.500% 15/03/25 11,259 0.0023,956 Bureau Veritas EUR 3.125% 21/01/21 25,910 0.01

109,144 Caisse Centrale du CreditImmobilier de France EUR 0.250% 25/11/18 110,005 0.03

36,382 Caisse Centrale du CreditImmobilier de France (tradedin France) EUR 0.375% 31/07/20 36,880 0.01




83,847 Electricite de France EUR 1.875% 13/10/36 76,139 0.0216,470 Electricite de France EUR 5.000% 22/01/49 17,663 0.0132,940 Electricite de France EUR 4.125% 29/01/49 34,814 0.0129,945 Electricite de France GBP 5.875% 22/07/49 34,863 0.015,989 Electricite de France EUR 4.250% 29/12/49 6,366 0.00

47,913 Engie EUR 0.875% 27/03/24 48,167 0.02134,016 France Government Bond OAT EUR 1.000% 25/05/18 135,912 0.04177,725 France Government Bond OAT EUR 4.250% 25/10/18 188,972 0.0661,706 France Government Bond OAT EUR 1.000% 25/11/18 63,039 0.0273,617 France Government Bond OAT EUR 4.250% 25/04/19 80,012 0.0330,701 France Government Bond OAT EUR 1.000% 25/05/19 31,573 0.01


199








Date

Market

Value

% of

Net

Assets




212,628 France Government Bond OAT EUR 3.500% 25/04/20 235,956 0.0743,300 France Government Bond OAT EUR 0.000% 25/05/20 43,759 0.0171,775 France Government Bond OAT EUR 0.100% 01/03/21 75,038 0.02

126,282 France Government Bond OAT EUR 3.750% 25/04/21 145,761 0.0577,043 France Government Bond OAT

(traded in France) EUR 0.000% 25/05/21 77,730 0.02171,344 France Government Bond OAT

(traded in Germany) EUR 0.000% 25/05/21 172,873 0.0562,742 France Government Bond OAT EUR 3.250% 25/10/21 72,049 0.02




21 France Government Bond OAT EUR 1.750% 25/11/24 24 0.00469,429 France Government Bond OAT EUR 3.500% 25/04/26 586,549 0.18116,207 France Government Bond OAT EUR 1.000% 25/05/27 118,210 0.0475,101 France Government Bond OAT EUR 2.000% 25/05/48 77,717 0.0276,361 Fromageries Bel EUR 1.500% 18/04/24 76,733 0.027,486 Groupama EUR 6.000% 23/01/27 8,902 0.001,497 Groupama EUR 7.875% 27/10/39 1,721 0.00

80,853 Groupama EUR 6.375% 29/05/49 90,409 0.0367,377 Havas EUR 1.875% 08/12/20 70,048 0.0283,847 Iliad EUR 2.125% 05/12/22 87,196 0.0311,978 La Banque Postale EUR 2.750% 19/11/27 12,600 0.0033,599 La Mondiale EUR 5.050% 29/12/49 37,467 0.0144,918 La Mondiale USD 7.625% 31/12/49 42,289 0.0168,470 mFinance France EUR 2.000% 26/11/21 72,291 0.0254,097 Orange EUR 4.000% 29/10/49 58,803 0.0269,623 Orange EUR 5.000% 29/10/49 78,117 0.0260,041 RCI Banque EUR 1.375% 08/03/24 60,836 0.0210,122 Rexel EUR 3.500% 15/06/23 10,607 0.00


38,929 SEB EUR 1.500% 31/05/24 39,288 0.0143,481 SFR Group USD 6.000% 15/05/22 39,934 0.0112,682 SFR Group EUR 5.625% 15/05/24 13,698 0.0176,361 Societe Fonciere Lyonnaise EUR 1.875% 26/11/21 80,051 0.0338,929 SPIE EUR 3.125% 22/03/24 40,683 0.0161,388 TDF Infrastructure EUR 2.875% 19/10/22 66,844 0.0217,967 TDF Infrastructure EUR 2.500% 07/04/26 18,733 0.0123,956 Teleperformance EUR 1.500% 03/04/24 24,000 0.0119,465 TOTAL EUR 2.250% 29/12/49 19,733 0.0121,201 TOTAL EUR 2.708% 29/12/49 21,618 0.01

4,955,841 1.50Germany

16,470 Allianz EUR 4.750% 29/10/49 19,000 0.0160,355 Bayer EUR 3.000% 01/07/75 62,879 0.0255,642 Bundesobligation EUR 0.000% 08/04/22 56,240 0.0263,667 Bundesrepublik Deutschland EUR 2.500% 04/01/21 70,258 0.0210,123 Bundesrepublik Deutschland EUR 3.250% 04/07/21 11,601 0.005,973 Bundesrepublik Deutschland EUR 1.750% 04/07/22 6,560 0.00


275,895 Bundesrepublik Deutschland EUR 2.000% 15/08/23 310,458 0.09123,804 Bundesrepublik Deutschland EUR 1.750% 15/02/24 138,056 0.04376,788 Bundesrepublik Deutschland EUR 1.000% 15/08/24 401,040 0.12145,481 Bundesrepublik Deutschland EUR 0.500% 15/02/25 149,160 0.0548,045 Bundesrepublik Deutschland EUR 0.500% 15/02/26 48,818 0.0199,223 Bundesrepublik Deutschland EUR 0.000% 15/08/26 95,722 0.0322,407 Bundesrepublik Deutschland EUR 5.500% 04/01/31 36,125 0.0148,026 Bundesrepublik Deutschland EUR 4.250% 04/07/39 78,038 0.02

149,164 Bundesschatzanweisungen EUR 0.000% 14/06/19 150,848 0.05137,090 Daimler EUR 1.500% 03/07/29 134,668 0.0492,262 Deutsche Pfandbriefbank EUR 1.375% 15/01/18 92,961 0.0350,114 Deutsche Wohnen EUR 1.375% 24/07/20 51,751 0.0263,739 EnBW Energie

Baden-Wuerttemberg EUR 3.625% 02/04/76 67,321 0.02








Date

Market

Value

% of

Net

Assets



50,907 Eurogrid EUR 1.875% 10/06/25 54,035 0.0223,956 IHO Verwaltungs EUR 3.250% 15/09/23 24,631 0.01



28,448 LEG Immobilien EUR 1.250% 23/01/24 28,641 0.0117,870 State of North




2,786,757 0.84Guernsey

52,105 Credit Suisse Group FundingGuernsey USD 3.800% 09/06/23 47,161 0.01

47,161 0.01Iceland



185,394 0.06India

17,967 ONGC Videsh EUR 2.750% 15/07/21 19,112 0.01

19,112 0.01Ireland

41,175 Allied Irish Banks EUR 4.125% 26/11/25 43,903 0.0114,194 Ardagh Packaging Finance via

Ardagh Holdings USA USD 6.000% 15/02/25 13,098 0.000 Bank of Ireland EUR 2.000% 08/05/17 0 0.00


1 ESB Finance EUR 6.250% 11/09/17 1 0.0014,973 FCA Bank Ireland EUR 2.000% 23/10/19 15,561 0.0145,577 FCA Bank Ireland EUR 1.375% 17/04/20 46,701 0.0129,661 Fresenius Finance Ireland EUR 1.500% 30/01/24 30,013 0.019,343 Fresenius Finance Ireland EUR 2.125% 01/02/27 9,593 0.00

67,632 Fresenius Finance Ireland EUR 3.000% 30/01/32 71,100 0.02221,612 Ireland Government Bond EUR 4.500% 18/04/20 251,379 0.08238,233 Ireland Government Bond EUR 5.000% 18/10/20 279,690 0.09124,657 Ireland Government Bond EUR 1.000% 15/05/26 126,064 0.04

0 Ireland Government Bond EUR 2.400% 15/05/30 0 0.00135,360 Ireland Government Bond EUR 1.700% 15/05/37 135,349 0.0449,410 Johnson Controls International EUR 1.000% 15/09/23 48,852 0.0255,803 Ryanair EUR 1.875% 17/06/21 58,897 0.0216,470 Smurfit Kappa Acquisitions EUR 2.375% 01/02/24 16,917 0.0114,973 Transmission Finance EUR 1.500% 24/05/23 15,429 0.00

1,217,621 0.37Italy

28,448 Beni Stabili SIIQ EUR 4.125% 22/01/18 29,116 0.0140,112 Enel EUR 6.500% 10/01/74 43,471 0.0114,973 Enel GBP 7.750% 10/09/75 19,408 0.0018,417 Enel GBP 6.625% 15/09/76 23,476 0.0138,121 Intesa Sanpaolo USD 5.250% 12/01/24 36,973 0.0123,627 Intesa Sanpaolo USD 5.710% 15/01/26 21,909 0.01







200








Date

Market

Value

% of

Net

Assets














Tesoro (traded in Switzerland) EUR 4.500% 01/05/23 26,262 0.0198,104 Italy Buoni Poliennali Del










41,926 Accudyne Industries Borrowervia Accudyne Industries USD 7.750% 15/12/20 36,944 0.01

35,950 Allergan Funding EUR 1.250% 01/06/24 35,810 0.0144,155 Allergan Funding EUR 2.125% 01/06/29 44,196 0.0134,768 Altice Financing USD 6.625% 15/02/23 32,418 0.0130,678 Altice Luxembourg USD 7.625% 15/02/25 29,587 0.0120,943 Consolidated Energy Finance USD 6.750% 15/10/19 18,752 0.0121,065 Consolidated Energy Finance USD 6.875% 15/06/25 19,070 0.0190,479 Coveris Holdings USD 7.875% 01/11/19 78,536 0.02



35,935 Gazprom via Gaz Capital GBP 4.250% 06/04/24 42,296 0.0143,870 GELF Bond Issuer I EUR 1.750% 22/11/21 45,605 0.017,669 Mallinckrodt International


Finance via Mallinckrodt CB USD 5.500% 15/04/25 15,780 0.0170,971 Novartis Finance EUR 0.125% 20/09/23 69,140 0.0244,544 Prologis International Funding

II EUR 1.876% 17/04/25 45,575 0.0142,295 Topaz Marine USD 8.625% 01/11/18 37,202 0.0155,220 Wind Acquisition Finance USD 7.375% 23/04/21 50,382 0.02

933,223 0.28Mexico










Date

Market

Value

% of

Net

Assets




87,216 Achmea EUR 6.000% 04/04/43 98,568 0.0392,516 Achmea EUR 4.250% 29/12/49 89,633 0.0359,891 Cetin Finance EUR 1.423% 06/12/21 61,548 0.0228,633 Constellium USD 7.875% 01/04/21 26,956 0.0133,746 Constellium EUR 7.000% 15/01/23 34,845 0.0123,163 Deutsche Bahn Finance EUR 0.875% 11/07/31 21,346 0.0145,562 Deutsche Bahn Finance EUR 1.500% 08/12/32 45,052 0.0121,112 Deutsche Telekom



26,502 ELM for Swiss Life Insurance& Pension Group EUR 4.500% 29/12/49 28,881 0.01





Finance Netherlands GBP 3.000% 12/05/32 18,542 0.0117,895 LBC Tank Terminals Holding

Netherlands USD 6.875% 15/05/23 16,357 0.0017,967 Madrilena Red de Gas Finance EUR 2.250% 11/04/29 18,246 0.0158,394 Mylan EUR 2.250% 22/11/24 60,496 0.02

132,043 Netherlands Government Bond EUR 0.000% 15/01/22 133,180 0.0411 Netherlands Government Bond EUR 2.250% 15/07/22 13 0.00

41,837 Netherlands Government Bond(traded in Germany) EUR 1.750% 15/07/23 46,182 0.01

8,774 Netherlands Government Bond(traded in Netherlands) EUR 1.750% 15/07/23 9,686 0.00

24,587 Netherlands Government Bond EUR 0.250% 15/07/25 24,395 0.0123,251 Netherlands Government Bond EUR 0.500% 15/07/26 23,258 0.0138,929 NIBC Bank EUR 1.500% 31/01/22 39,690 0.017,726 Petrobras Global Finance USD 6.125% 17/01/22 7,004 0.00





8,984 Vesteda Finance EUR 1.750% 22/07/19 9,221 0.0052,405 Vesteda Finance EUR 2.500% 27/10/22 56,218 0.0251,431 Vonovia Finance EUR 0.875% 30/03/20 52,357 0.0288,339 Vonovia Finance EUR 1.625% 15/12/20 92,229 0.0371,869 Vonovia Finance EUR 1.250% 06/12/24 71,795 0.0219,465 Vonovia Finance EUR 4.000% 29/12/49 20,979 0.0125,454 Vonovia Finance EUR 4.625% 08/04/74 26,977 0.01

131,775 Ziggo Secured Finance EUR 4.250% 15/01/27 139,891 0.04


25,454 Chorus EUR 1.125% 18/10/23 25,333 0.01

25,333 0.01Panama

89,837 Carnival EUR 1.125% 06/11/19 91,845 0.0350,907 Carnival EUR 1.625% 22/02/21 53,056 0.0240,426 Carnival EUR 1.875% 07/11/22 42,674 0.01

187,575 0.06


201








Date

Market

Value

% of

Net

Assets

BONDS EUR %Peru


6,289 0.00Poland


62,086 0.02Portugal

1,497 Brisa Concessao Rodoviaria EUR 1.875% 30/04/25 1,507 0.0014,973 Brisa Concessao Rodoviaria EUR 2.375% 10/05/27 15,151 0.0053,902 Parpublica – Participacoes

Publicas EUR 3.750% 05/07/21 59,140 0.0214,873 Portugal Obrigacoes do

Tesouro OT EUR 4.800% 15/06/20 16,836 0.01

92,634 0.03Romania


77,676 0.02Slovenia


113,735 0.03Spain

37,432 Bankia EUR 4.000% 22/05/24 38,898 0.0119,465 Bankia EUR 3.375% 15/03/27 19,829 0.0141,924 CaixaBank EUR 3.500% 15/02/27 43,846 0.0134,437 Canal de Isabel II Gestion EUR 1.680% 26/02/25 34,913 0.0143,421 Cellnex Telecom EUR 2.375% 16/01/24 44,561 0.017,486 Cellnex Telecom EUR 2.875% 18/04/25 7,761 0.00



34,437 Inmobiliaria Colonial EUR 1.450% 28/10/24 33,857 0.0116,470 Mapfre EUR 4.375% 31/03/47 17,593 0.0131,443 Santander Consumer Finance EUR 1.100% 30/07/18 31,845 0.0117,967 Santander Consumer Finance EUR 0.900% 18/02/20 18,310 0.0135,935 Santander Consumer Finance EUR 1.500% 12/11/20 37,278 0.0185,345 Santander Consumer Finance EUR 0.875% 24/01/22 85,803 0.031,477 Spain Government Bond

(traded in Germany) EUR 5.500% 30/07/17 1,483 0.00321 Spain Government Bond

(traded in Spain) EUR 5.500% 30/07/17 322 0.0028,313 Spain Government Bond EUR 4.100% 30/07/18 29,665 0.01

144,113 Spain Government Bond EUR 4.600% 30/07/19 158,592 0.05374,451 Spain Government Bond EUR 1.400% 31/01/20 390,254 0.1271,869 Spain Government Bond EUR 4.000% 30/04/20 80,296 0.02








11,978 Telefonica Emisiones GBP 5.597% 12/03/20 15,186 0.00


30,678 Endo Dac via Endo Financevia Endo Finco USD 6.000% 01/02/25 22,056 0.01


21 European Stability Mechanism EUR 0.500% 02/03/26 21 0.00








Date

Market

Value

% of

Net

Assets

BONDS EUR %Supranational (continued)



10,226 Venator Finance via VenatorMaterials USD 5.750% 15/07/25 9,078 0.00

113,007 0.03Sweden

15,422 Energa Finance EUR 2.125% 07/03/27 15,346 0.0020,288 Essity EUR 0.625% 28/03/22 20,228 0.0123,956 Essity EUR 1.125% 27/03/24 24,036 0.0142,223 Molnlycke Holding EUR 1.500% 28/02/22 43,581 0.01

157,708 Svenska Handelsbanken EUR 1.125% 14/12/22 162,594 0.0559,891 Telia EUR 3.000% 04/04/78 61,713 0.0221,306 Vattenfall EUR 3.000% 19/03/77 20,864 0.01




Switzerland EUR 1.500% 30/11/24 119,700 0.04


12,562 Aviva EUR 3.375% 04/12/45 12,940 0.0061,239 Barclays GBP 3.125% 17/01/24 72,232 0.02





118,285 Coventry Building Society EUR 2.500% 18/11/20 126,325 0.0410,256 CYBG GBP 3.125% 22/06/25 11,558 0.0037,731 CYBG GBP 5.000% 09/02/26 43,615 0.0177,289 DS Smith EUR 2.250% 16/09/22 81,558 0.0239,977 FCE Bank EUR 1.660% 11/02/21 41,482 0.0146,940 Friends Life Holdings GBP 8.250% 21/04/22 68,998 0.0258,244 G4S International Finance EUR 1.500% 09/01/23 59,105 0.0213,475 GKN Holdings GBP 3.375% 12/05/32 15,378 0.0013,670 Hammerson EUR 1.750% 15/03/23 14,176 0.0077,858 HSBC Holdings EUR 0.369% 27/09/22 78,548 0.0225,454 HSBC Holdings GBP 2.625% 16/08/28 29,085 0.0122,459 HSBC Holdings GBP 6.750% 11/09/28 33,702 0.0134,768 International Car Wash Group

Financing EUR 6.625% 15/07/19 35,358 0.0114,973 Investec GBP 4.500% 05/05/22 18,407 0.0134,991 ITV EUR 2.125% 21/09/22 36,312 0.0145,787 ITV EUR 2.000% 01/12/23 46,688 0.01

0 J Sainsbury GBP 1.250% 21/11/19 0 0.008,475 Jaguar Land Rover Automotive GBP 2.750% 24/01/21 9,874 0.005,113 KCA Deutag UK Finance USD 7.250% 15/05/21 3,990 0.004,090 KCA Deutag UK Finance USD 9.875% 01/04/22 3,497 0.004,686 Ladbrokes Group Finance GBP 5.125% 08/09/23 5,297 0.00


51,057 Pirelli International EUR 1.750% 18/11/19 52,174 0.0276,361 Royal Bank of Scotland EUR 0.500% 15/05/24 75,614 0.02

133,257 Royal Bank of Scotland Group EUR 2.000% 08/03/23 137,718 0.0443,646 Royal Bank of Scotland Group EUR 2.500% 22/03/23 46,402 0.0138,345 Santander UK EUR 0.875% 13/01/20 38,996 0.0123,687 Skipton Building Society GBP 1.750% 30/06/22 26,731 0.0159,891 Sky EUR 1.500% 15/09/21 62,067 0.0226,951 Smiths Group EUR 2.000% 23/02/27 27,398 0.01

121,279 SSE EUR 1.750% 08/09/23 128,191 0.0429,796 SSE EUR 5.625% 29/09/49 30,194 0.01


202








Date

Market

Value

% of

Net

Assets


14,059 SSE GBP 3.875% 29/12/49 16,477 0.0114,973 SSE GBP 3.625% 16/09/77 17,262 0.0138,929 Tesco GBP 5.000% 24/03/23 48,999 0.0219,569 Tesco GBP 6.000% 14/12/29 26,015 0.0148,062 TSB Banking Group GBP 5.750% 06/05/26 59,426 0.0240,904 Tullow Oil USD 6.250% 15/04/22 32,860 0.0111,230 Virgin Media Secured Finance GBP 4.875% 15/01/27 13,201 0.0015,976 Virgin Media Secured Finance GBP 6.250% 28/03/29 19,798 0.0123,148 William Hill GBP 4.875% 07/09/23 27,157 0.0159,008 Yorkshire Building Society EUR 2.125% 18/03/19 61,056 0.02

123,555 Yorkshire Building Society EUR 1.250% 17/03/22 126,427 0.04


31,128 A Schulman USD 6.875% 01/06/23 28,998 0.0138,929 AbbVie EUR 0.375% 18/11/19 39,118 0.0151,191 Aircastle USD 4.125% 01/05/24 45,865 0.0130,678 Alere USD 6.500% 15/06/20 27,402 0.0140,904 Allegheny Technologies USD 7.875% 15/08/23 37,656 0.0131,946 Allegiant Travel USD 5.500% 15/07/19 29,200 0.0130,146 Alliance Resource Operating

Partners via Alliance ResourceFinance USD 7.500% 01/05/25 27,885 0.01

27,222 Allison Transmission USD 5.000% 01/10/24 24,523 0.0140,904 Ally Financial USD 8.000% 01/11/31 44,112 0.0124,972 Alpine Finance Merger Sub USD 6.875% 01/08/25 22,332 0.0114,316 AMC Entertainment Holdings GBP 6.375% 15/11/24 17,544 0.0120,452 AMC Entertainment Holdings USD 6.125% 15/05/27 18,968 0.0140,904 American Airlines Group USD 5.500% 01/10/19 37,947 0.0120,962 American Tower EUR 1.375% 04/04/25 20,674 0.0118,632 Appvion USD 9.000% 01/06/20 8,576 0.0055,504 AT&T EUR 1.800% 04/09/26 55,018 0.0259,576 AT&T EUR 2.350% 04/09/29 58,942 0.0213,850 AT&T EUR 3.550% 17/12/32 15,110 0.0042,223 AT&T EUR 2.450% 15/03/35 38,966 0.0145,113 AT&T EUR 3.150% 04/09/36 44,529 0.0133,464 AT&T USD 5.450% 01/03/47 31,705 0.0137,432 Bank of America GBP 6.125% 15/09/21 50,638 0.0241,115 Bank of America EUR 1.625% 14/09/22 42,684 0.01

100,317 Bank of America EUR 0.451% 04/05/23 100,545 0.0353,902 Bank of America EUR 1.776% 04/05/27 54,223 0.0229,083 Beazer Homes USA USD 6.750% 15/03/25 26,646 0.0134,437 Becton Dickinson & Co EUR 1.000% 15/12/22 34,239 0.0149,289 C&S Group Enterprises USD 5.375% 15/07/22 42,783 0.0114,173 CalAtlantic Group USD 5.875% 15/11/24 13,514 0.0014,173 CalAtlantic Group USD 5.250% 01/06/26 12,939 0.0018,877 Cardtronics via Cardtronics



Holdings Capital USD 5.875% 01/05/27 33,616 0.0110,226 Cemex Finance EUR 4.625% 15/06/24 11,094 0.0040,904 Chemours USD 7.000% 15/05/25 39,270 0.017,076 Chemours USD 5.375% 15/05/27 6,413 0.00

12,435 Chesapeake Energy USD 8.000% 15/12/22 11,570 0.0020,452 Chesapeake Energy USD 8.000% 15/01/25 17,820 0.019,837 CHS USD 5.125% 01/08/21 8,765 0.00




16,668 Commercial Metals USD 5.375% 15/07/27 14,925 0.0028,633 Continental Resources USD 5.000% 15/09/22 24,728 0.0130,678 Continental Resources USD 4.900% 01/06/44 22,594 0.012,802 Covey Park Energy via Covey

Park Finance USD 7.500% 15/05/25 2,463 0.0051,130 CSVC Acquisition USD 7.750% 15/06/25 45,922 0.0140,904 CVR Partners via CVR

Nitrogen Finance USD 9.250% 15/06/23 37,656 0.01








Date

Market

Value

% of

Net

Assets


11,412 Deck Chassis Acquisition USD 10.000% 15/06/23 11,132 0.0025,054 Dell USD 7.100% 15/04/28 24,218 0.0161,628 Digital Euro Finco EUR 2.625% 15/04/24 65,527 0.0233,883 Discovery Communications EUR 1.900% 19/03/27 32,425 0.0120,452 DISH DBS USD 5.000% 15/03/23 18,425 0.0122,293 DISH DBS USD 7.750% 01/07/26 23,210 0.016,463 Eagle Holding II USD 7.625% 15/05/22 5,843 0.00





Acquisition Finance USD 8.000% 15/02/25 26,897 0.0147,039 Ferrellgas via Ferrellgas

Finance USD 6.750% 15/01/22 38,974 0.0140,904 Frontier Communications USD 8.125% 01/10/18 37,970 0.0140,904 Gates Global via Gates Global USD 6.000% 15/07/22 36,132 0.0144,918 General Electric EUR 1.500% 17/05/29 44,415 0.0154,198 Genesis Energy via Genesis










Orchestra Co-Issuer USD 6.750% 15/06/22 14,299 0.0022,374 Ortho-Clinical Diagnostics via

Ortho-Clinical Diagnostics USD 6.625% 15/05/22 18,833 0.0141,924 Parker-Hannifin EUR 1.125% 01/03/25 41,808 0.0141,579 PBF Holding via PBF Finance USD 7.000% 15/11/23 36,091 0.0151,130 Peabody Energy USD 6.375% 31/03/25 44,325 0.0173,627 Penske Automotive Group USD 5.500% 15/05/26 64,393 0.0266,554 Pfizer EUR 0.000% 06/03/20 66,440 0.02

0 Philip Morris International EUR 2.125% 30/05/19 0 0.0016,635 Philip Morris International EUR 1.750% 19/03/20 17,343 0.0128,633 Platform Specialty Products USD 10.375% 01/05/21 27,834 0.01


203








Date

Market

Value

% of

Net

Assets


40,904 Post Holdings USD 5.000% 15/08/26 35,863 0.0122,459 Priceline Group EUR 0.800% 10/03/22 22,387 0.0160,333 Prime Security Services




40,904 Sunoco via Sunoco Finance USD 6.250% 15/04/21 37,567 0.016,585 Surgery Center Holdings USD 6.750% 01/07/25 5,861 0.006,238 Tempo Acquisition via Tempo

Acquisition Finance USD 6.750% 01/06/25 5,606 0.0014,132 Tenet Healthcare USD 4.625% 15/07/24 12,437 0.0017,711 THC Escrow III USD 4.625% 15/07/24 15,610 0.0021,965 THC Escrow III USD 5.125% 01/05/25 19,379 0.0156,297 Thermo Fisher Scientific EUR 1.500% 01/12/20 58,245 0.02



12,323 T-Mobile USA USD 6.000% 15/04/24 11,587 0.0040,904 T-Mobile USA USD 6.500% 15/01/26 39,674 0.0115,850 TransDigm USD 6.500% 15/05/25 14,175 0.0035,791 TransDigm USD 6.375% 15/06/26 31,930 0.015,989 United States Treasury Bond USD 3.000% 15/02/47 5,418 0.007,322 USG USD 4.875% 01/06/27 6,620 0.00





30,678 West USD 5.375% 15/07/22 27,234 0.0126,588 Western Digital USD 10.500% 01/04/24 27,558 0.0131,107 WMG Acquisition USD 5.000% 01/08/23 28,058 0.0115,952 Wynn Las Vegas via Wynn Las

Vegas Capital USD 5.250% 15/05/27 14,345 0.0026,751 Xerium Technologies USD 9.500% 15/08/21 24,979 0.0132,580 York Risk Services Holding USD 8.500% 01/10/22 27,637 0.0140,904 Zachry Holdings USD 7.500% 01/02/20 37,119 0.0113,028 Zayo Group via Zayo Capital USD 5.750% 15/01/27 11,979 0.0025,064 Zimmer Biomet Holdings EUR 1.414% 13/12/22 25,481 0.0113,475 Zimmer Biomet Holdings EUR 2.425% 13/12/26 13,988 0.00

4,972,426 1.51






Currency Market

Value

% of

Net

Assets


20,414 Australia & New Zealand Banking Group AUD 394,288 0.1218,176 Bank of Queensland AUD 139,966 0.0413,138 BHP Billiton AUD 205,690 0.0614,136 BlueScope Steel AUD 125,590 0.0415,407 BWP Trust AUD 30,877 0.01

5,779 Caltex Australia AUD 122,850 0.049,567 Charter Hall Retail REIT AUD 26,187 0.01


36,313 Dexus AUD 231,514 0.07234,619 Fairfax Media AUD 173,566 0.05

53,895 Genworth Mortgage Insurance Australia AUD 106,199 0.0365,018 Goodman Group AUD 344,127 0.1165,036 GPT Group AUD 209,506 0.0623,227 Harvey Norman Holdings AUD 59,670 0.0272,937 HT&E AUD 129,497 0.0417,231 Investa Office Fund AUD 50,872 0.02

4,554 Lend Lease Group AUD 50,990 0.022,387 Macquarie Group AUD 142,080 0.04

193,754 Mirvac Group AUD 277,550 0.087,490 Newcrest Mining AUD 101,556 0.03

30,538 Oil Search AUD 140,065 0.0421,782 Origin Energy AUD 100,492 0.0343,017 Qantas Airways AUD 165,479 0.05

192,153 Scentre Group AUD 523,374 0.1620,433 Shopping Centres Australasia Property

Group AUD 30,095 0.0157,157 South32 AUD 103,018 0.0383,971 Stockland AUD 247,352 0.0837,250 Syrah Resources AUD 69,392 0.0291,254 Vicinity Centres AUD 157,724 0.0569,089 Westfield AUD 373,106 0.11


5,409,250 1.64Austria

290 ams CHF 16,554 0.003,788 BUWOG EUR 95,283 0.03



1,309,759 0.40Bangladesh


409,901 0.12Belgium

175 Barco EUR 15,683 0.01675 Cofinimmo EUR 72,676 0.02

9,491 D’ieteren EUR 388,367 0.127,194 KBC Group EUR 477,776 0.145,642 Solvay EUR 662,972 0.20

10,914 UCB EUR 657,351 0.20624 Umicore EUR 38,007 0.01

2,312,832 0.70Bermuda


7,068 Maiden Holdings USD 68,785 0.023,244 Marvell Technology Group USD 46,992 0.01

669 Validus Holdings USD 30,482 0.01

214,101 0.06Brazil


Pref – BRL 63,189 0.0233,788 Banco Santander Brasil – ADR – USD 223,074 0.0731,057 BR Malls Participacoes BRL 98,210 0.03

8,744 Braskem – Pref – BRL 79,138 0.026,413 BTG Pactual Group BRL 25,454 0.01

17,674 Cia de Saneamento Basico do Estado deSao Paulo – ADR – USD 147,520 0.04

11,607 Cia de Saneamento do Parana – Pref – BRL 33,478 0.012,055 Cia Paranaense de Energia – ADR – USD 13,226 0.00


204






Currency Market

Value

% of

Net

Assets


2,307 Gafisa BRL 6,606 0.002,649 Iguatemi Empresa de Shopping Centers BRL 23,075 0.019,528 Itau Unibanco Holding – ADR – USD 92,309 0.03

94,197 JBS BRL 162,773 0.051,961 M Dias Branco BRL 25,579 0.01

690 Magazine Luiza BRL 46,724 0.01111,260 Metalurgica Gerdau – Pref – BRL 146,328 0.04

19,505 MRV Engenharia e Participacoes BRL 69,782 0.023,372 Multiplan Empreendimentos Imobiliarios BRL 58,293 0.02

13,185 Petroleo Brasileiro – ADR – USD 92,369 0.0324,694 Petroleo Brasileiro – Pref – BRL 80,833 0.02

9,623 Sao Martinho BRL 43,800 0.012,508 TIM Participacoes – ADR – USD 32,544 0.019,039 Transmissora Alianca de Energia Eletrica BRL 52,719 0.02

10,977 Vale – ADR – USD 84,211 0.0313,871 Vale – Pref – BRL 98,773 0.03

2,016,682 0.61Canada


5,407 Artis Real Estate Investment Trust CAD 47,825 0.011,336 Boardwalk Real Estate Investment Trust CAD 42,887 0.015,119 Canadian Apartment Properties REIT CAD 116,011 0.032,785 Canadian Real Estate Investment Trust CAD 86,262 0.036,813 Chartwell Retirement Residences CAD 71,246 0.026,246 Cominar Real Estate Investment Trust CAD 53,593 0.024,169 Dream Office Real Estate Investment Trust CAD 55,031 0.025,244 First Capital Realty CAD 69,954 0.021,478 Granite Real Estate Investment CAD 51,179 0.02

10,619 H&R Real Estate Investment Trust CAD 157,856 0.058,023 Pure Industrial Real Estate Trust CAD 37,266 0.01

11,337 RioCan Real Estate Investment Trust CAD 184,224 0.063,809 Smart Real Estate Investment Trust CAD 82,589 0.02

1,141,657 0.35Chile


845,420 0.26China128,823 Agile Property Holdings HKD 103,450 0.03

1,050,302 Agricultural Bank of China – H – HKD 435,284 0.13137,373 Air China – H – HKD 124,202 0.04


24,459 Anhui Conch Cement – H – HKD 74,584 0.0213,512 Autohome – ADR – USD 537,367 0.1698,605 BAIC Motor – H – HKD 83,836 0.03

991 Baidu – ADR – USD 155,482 0.05639,824 Bank of China – H – HKD 275,227 0.08

19,217 Baozu – ADR – USD 373,537 0.1150,789 BYD Electronic International HKD 88,303 0.03

976 Changyou.com – ADR – USD 33,182 0.01331,074 China Cinda Asset Management – H – HKD 108,206 0.03131,076 China CITIC Bank – H – HKD 70,369 0.02

37,796 China Communications Construction – H – HKD 42,705 0.01795,025 China Construction Bank – H – HKD 540,217 0.16

63,467 China Evergrande Group HKD 99,937 0.03191,819 China Forestry Holdings EUR 0 0.00164,218 China Huarong Asset Management – H – HKD 55,885 0.02


110,318 China National Building Material – H – HKD 57,491 0.02310,578 China Petroleum & Chemical – H – HKD 212,432 0.06

66,439 China Railway Construction – H – HKD 75,963 0.02118,189 China Railway Group – H – HKD 81,637 0.02

14,462 China Resources Pharmaceutical Group HKD 15,836 0.0116,674 China Shenhua Energyn – H – HKD 32,547 0.0168,810 China Southern Airlines – H – HKD 51,007 0.02

370,169 China Telecom – H – HKD 154,243 0.0554,214 China Yongda Automobiles Services

Holdings HKD 48,408 0.0140,454 China ZhengTong Auto Services Holdings HKD 28,397 0.0142,442 Chinammunications Services – H – HKD 21,451 0.01

281,911 Chongqing Rural Commercial Bank – H – HKD 166,861 0.05280,927 CIFI Holdings Group HKD 109,485 0.03

51,734 Country Garden Holdings HKD 52,584 0.02






Currency Market

Value

% of

Net

Assets

SHARES EUR %China (continued)106,933 Dongfeng Motor Group – H – HKD 110,852 0.03

83,073 Fufeng Group HKD 39,187 0.0179,136 Geely Automobile Holdings HKD 149,675 0.0532,534 Guangshen Railway – H – HKD 14,141 0.00

221,661 Guangzhou Automobile Group – H – HKD 341,068 0.1093,247 Guangzhou R&F Properties – H – HKD 127,141 0.0454,805 Harbin Electric – H – HKD 24,252 0.01

110,511 Hua Hong Semiconductor HKD 131,565 0.04138,864 Huaneng Power International – H – HKD 84,532 0.03799,956 Industrial & Commercial Bank of China –

H – HKD 473,488 0.144,465 JA Solar Holdings – ADR – USD 24,859 0.015,256 JD.com – ADR – USD 180,733 0.06

28,444 Jiangxi Copper – H – HKD 40,955 0.0118,725 Kaisa Group Holdings HKD 5,195 0.00

119,905 KWG Property Holding HKD 70,432 0.02148,149 Li Ning HKD 98,836 0.03

98,350 Logan Property Holdings HKD 56,887 0.0261,734 Lonking Holdings HKD 16,987 0.0128,248 Luthai Textile – B – HKD 27,189 0.01

390 Momo – ADR – USD 12,631 0.001,901 NetEase – ADR – USD 501,161 0.15


Group – ADR – USD 171,309 0.05193,990 PetroChina – H – HKD 104,145 0.03110,018 PICC Property & Casualty – H – HKD 161,129 0.05

62,246 Powerlong Real Estate Holdings HKD 23,490 0.0127,610 Shanghai Haohai Biological Technology –

H – HKD 131,480 0.0455,547 Shanghai Pharmaceuticals Holding – H – HKD 145,049 0.0472,750 Shenzhou International Group Holdings HKD 419,163 0.13

141,756 Shui On Land HKD 30,091 0.01598 SINA USD 44,584 0.01

24,765 Sino-Ocean Group Holding HKD 10,625 0.0028,111 Sinopec Shanghai Petrochemical – H – HKD 13,197 0.0087,322 Sinotruk Hong Kong HKD 55,608 0.0218,629 Tencent Holdings HKD 584,169 0.1853,230 Tianneng Power International HKD 38,322 0.01

101,096 Times Property Holdings HKD 55,410 0.0221 Weibo – ADR – USD 1,216 0.00

8,642 Weiqiao Textile – H – HKD 5,416 0.0022,520 Yanzhou Coal Mining – H – HKD 17,705 0.01

4,826 Yirendai – ADR – USD 105,784 0.03123,468 Yuzhou Properties HKD 64,066 0.02

3,390 YY – ADR – USD 172,473 0.0553,132 Zhongsheng Group Holdings HKD 86,885 0.03

11,998,406 3.63Colombia


64,536 0.02Denmark

244 ALK-Abello DKK 31,893 0.0115,705 Danske Bank DKK 528,933 0.1612,812 Dfds DKK 597,768 0.18

7,633 DSV DKK 410,634 0.12462 FLSmidth & Co DKK 25,580 0.01

1,759 H Lundbeck DKK 86,440 0.03321 Jyske Bank DKK 16,299 0.00316 NKT DKK 22,221 0.01


5,132 Pandora DKK 419,308 0.13129 Rockwool International – B – DKK 24,807 0.01

6,065 Spar Nord Bank DKK 69,663 0.02178,315 TDC DKK 908,002 0.28

9,486 Vestas Wind Systems DKK 766,757 0.23

4,773,104 1.45Finland

451 Cargotec – B – EUR 25,051 0.019,302 Kone – B – EUR 414,337 0.13

128,344 Nokia EUR 687,283 0.213,826 Nokian Renkaat EUR 138,647 0.043,278 Sampo – A – EUR 147,083 0.04

30,408 UPM-Kymmene EUR 758,974 0.23


205






Currency Market

Value

% of

Net

Assets

SHARES EUR %Finland (continued)

1,085 Valmet EUR 18,459 0.012,306 YIT EUR 16,878 0.00

2,206,712 0.67France

27,879 Alstom EUR 853,365 0.269,136 Altran Technologies EUR 130,370 0.04

13,783 Amundi EUR 873,140 0.269,413 Arkema EUR 879,498 0.275,906 Atos EUR 725,810 0.22

623 BioMerieux EUR 118,114 0.0442,631 BNP Paribas EUR 2,688,334 0.8121,109 Bouygues EUR 779,357 0.24

9,025 Capgemini EUR 816,536 0.2517,563 Cie de Saint-Gobain EUR 821,597 0.25

9,641 Cie Generale des Etablissements Michelin EUR 1,122,260 0.3440,453 Credit Agricole EUR 569,781 0.17

555 Criteo – ADR – USD 23,848 0.0121,012 Danone – ADR – USD 276,715 0.08

7,630 Elior Group EUR 194,111 0.0610,864 Elis EUR 217,935 0.07


1,179 Fonciere Des Regions EUR 95,793 0.031,224 Gecina EUR 168,138 0.051,237 ICADE EUR 90,950 0.037,599 Klepierre EUR 272,671 0.08

18,517 Legrand EUR 1,134,176 0.341,376 L’Oreal EUR 251,022 0.08

636 Nexans EUR 30,469 0.01477 Nexity EUR 24,244 0.01

2,886 Pernod Ricard EUR 338,374 0.1014,798 Publicis Groupe EUR 966,451 0.2910,712 Renault EUR 848,936 0.2625,337 Sanofi EUR 2,122,228 0.6426,539 Schneider Electric EUR 1,785,260 0.5443,487 Societe Generale EUR 2,048,660 0.62

5,607 Sodexo EUR 634,737 0.19488 Tarkett EUR 19,854 0.01


73,260 TOTAL EUR 3,171,044 0.962,974 Unibail-Rodamco (traded in France) EUR 656,178 0.20

384 Unibail-Rodamco (traded in Netherlands) EUR 84,816 0.0210,880 Valeo EUR 641,786 0.1956,371 Vallourec EUR 299,835 0.09

5,557 Vinci EUR 415,295 0.132,988 Worldline EUR 89,641 0.03

29,250,598 8.86Germany

13,259 Aareal Bank EUR 460,236 0.144,831 adidas EUR 810,425 0.252,673 Adidas – ADR – USD 224,947 0.079,519 Allianz EUR 1,641,060 0.504,784 alstria office REIT EUR 56,622 0.021,987 Aurubis EUR 136,638 0.04

10,854 BASF EUR 880,138 0.2726,358 Bayer EUR 2,983,768 0.90

8,601 Bayerische Motoren Werke EUR 699,059 0.212,887 Beiersdorf EUR 265,692 0.082,099 Brenntag EUR 106,371 0.03

347 Carl Zeiss Meditec EUR 15,769 0.007,536 Continental EUR 1,423,977 0.43

432 CTS Eventim & Co EUR 16,709 0.0012,073 Deutsche Boerse EUR 1,115,816 0.34

1,841 Deutsche Euroshop EUR 63,517 0.0222,728 Deutsche Post EUR 745,924 0.2352,424 Deutsche Telekom EUR 824,098 0.2512,131 Deutsche Wohnen EUR 406,259 0.12

9,508 Fresenius & Co EUR 713,707 0.221,231 FUCHS PETROLUB – Pref – EUR 58,670 0.02

12,156 Infineon Technologies EUR 224,696 0.074,821 KION Group EUR 322,632 0.102,066 Kloeckner & Co EUR 19,047 0.012,040 LEG Immobilien EUR 167,884 0.055,661 Merck EUR 598,643 0.185,409 MTU Aero Engines EUR 668,061 0.20






Currency Market

Value

% of

Net

Assets


4,983 MuenchenerRueckversicherungs-Gesellschaft inMuenchen EUR 879,752 0.27

9,833 ProSiebenSat.1 Media EUR 360,291 0.1148,103 RWE EUR 839,154 0.2539,617 Salzgitter EUR 1,414,908 0.4334,450 Schaeffler – Pref – EUR 431,999 0.1311,344 Siemens EUR 1,365,269 0.41

462 Stroeer EUR 24,220 0.014,484 TAG Immobilien EUR 61,726 0.02

697 Uniper EUR 11,452 0.005,246 United Internet EUR 252,557 0.085,573 Volkswagen – Pref – EUR 743,212 0.22

15,732 Vonovia EUR 546,934 0.17183 Wacker Chemie EUR 17,433 0.00

10,227 Wirecard EUR 569,834 0.17

23,169,106 7.02Greece

1,067 JUMBO EUR 17,072 0.01656 Motor Oil Hellas Corinth Refineries EUR 12,505 0.00


37,583 AIA Group HKD 240,815 0.0751,867 BOC Hong Kong Holdings HKD 217,576 0.0723,325 Cheung Kong Property Holdings HKD 160,198 0.05

216,899 China Agri-Industries Holdings HKD 78,929 0.0278,962 China Everbright HKD 150,764 0.0575,042 China Resources Cement Holdings HKD 32,701 0.0175,885 China Resources Land HKD 193,897 0.06

303,850 China Unicom Hong Kong HKD 395,868 0.1245,705 Chow Tai Fook Jewellery Group HKD 42,452 0.0112,336 Dah Sing Financial Holdings HKD 90,823 0.0312,246 Galaxy Entertainment Group HKD 65,193 0.0245,735 Giordano International HKD 22,858 0.0155,947 Haier Electronics Group HKD 127,556 0.0424,516 Hang Lung Group HKD 88,938 0.0381,763 Hang Lung Properties HKD 179,070 0.0540,784 Henderson Land Development HKD 199,485 0.0643,616 Hongkong Land Holdings USD 281,454 0.0822,694 Hysan Development HKD 94,945 0.0335,552 K Wah International Holdings HKD 18,927 0.0164,798 Kingboard Chemical Holdings HKD 226,338 0.0765,868 Kingboard Laminates Holdings HKD 69,688 0.0278,634 Link REIT HKD 524,603 0.1611,598 Luk Fook Holdings International HKD 34,779 0.01

7,414 Melco Resorts & Entertainment – ADR – USD 145,927 0.0463,270 Nine Dragons Paper Holdings HKD 73,903 0.0257,594 Peace Mark Holdings HKD 0 0.0079,313 Shimao Property Holdings HKD 119,011 0.04

114,711 Sino Land HKD 164,910 0.0585,627 Skyworth Digital Holdings HKD 46,643 0.0116,615 Sun Art Retail Group HKD 11,607 0.0041,396 Swire Properties HKD 119,720 0.04

165,092 WH Group HKD 146,111 0.0465,838 Wharf Holdings HKD 478,423 0.1445,501 Wheelock & Co HKD 301,001 0.0914,546 Yue Yuen Industrial Holdings HKD 52,932 0.02

344,657 Yuexiu Property HKD 51,484 0.02

5,249,529 1.59Hungary


55,265 0.02India

5,511 Adani Enterprises INR 9,913 0.0017,216 Balrampur Chini Mills INR 35,262 0.0115,132 Bharat Petroleum INR 131,242 0.04

9,280 Chennai Petroleum INR 44,553 0.0110,097 Emami INR 147,308 0.0415,595 HDFC Bank INR 349,475 0.11

1,036 Hero MotoCorp INR 52,028 0.0238,636 Hindalco Industries INR 100,073 0.0316,948 Hindustan Petroleum INR 117,322 0.0411,058 ICICI Bank INR 43,521 0.0123,649 Indian Oil INR 123,565 0.04

3,641 IndusInd Bank INR 73,052 0.0240,166 ITC INR 176,333 0.05


206






Currency Market

Value

% of

Net

Assets


13,821 Lupin INR 198,699 0.069,649 Mahindra & Mahindra Financial Services INR 45,149 0.01

47,208 NTPC INR 101,783 0.0356,307 Oil & Natural Gas INR 120,141 0.0410,954 Petronet LNG INR 64,194 0.0281,943 Power Finance INR 136,382 0.04




26,468 Tata Motors – A – INR 94,529 0.033,321 Tata Steel INR 24,585 0.016,883 UPL INR 78,467 0.02


3,009,116 0.91Indonesia

3,720,029 Ace Hardware Indonesia IDR 259,411 0.08600,259 Adaro Energy IDR 62,393 0.02632,363 Astra International IDR 371,289 0.11361,788 Bank Negara Indonesia Persero IDR 157,085 0.05558,445 Bank Rakyat Indonesia Persero IDR 560,257 0.17336,515 Cikarang Listrindo IDR 26,566 0.01301,746 Delta Dunia Makmur IDR 16,873 0.01


29,343 Indo Tambangraya Megah IDR 33,396 0.01314,050 Indofood CBP Sukses Makmur IDR 181,810 0.05

1,413,876 Mayora Indah IDR 205,561 0.06271,603 Perusahaan Gas Negara Persero IDR 40,203 0.01


2,080,358 0.63Ireland

22,321 Allied Irish Banks EUR 110,487 0.0376,319 Grafton Group GBP 612,772 0.18

738 ICON USD 63,266 0.0211,527 Medtronic USD 896,984 0.27



2,361,815 0.71Isle Of Man


38,544 0.01Italy

4,970 Anima Holding EUR 31,187 0.0130,866 Azimut Holding EUR 541,703 0.16

4,038 BPER Banca EUR 17,631 0.01628 Cerved Information Solutions EUR 5,886 0.00

6,960 Danieli & C Officine Meccaniche EUR 148,596 0.0527,902 Danieli & C Officine Meccaniche – RSP – EUR 437,502 0.13

558 De’ Longhi EUR 15,298 0.011,488 DiaSorin EUR 100,063 0.03

209,434 Enel EUR 983,083 0.30138,793 Eni EUR 1,826,509 0.55

5,914 FinecoBank Banca Fineco EUR 40,750 0.01349,986 Intesa Sanpaolo EUR 971,560 0.29


33,081 UniCredit EUR 540,877 0.16868 Yoox Net-A-Porter Group EUR 21,029 0.01

5,842,856 1.77Japan



1,844 Air Water JPY 29,705 0.013,821 Ariake Japan JPY 233,438 0.073,638 Asahi Kasei JPY 34,282 0.014,428 Astellas Pharma JPY 47,488 0.01






Currency Market

Value

% of

Net

Assets


1,111 Bandai Namco Holdings JPY 33,206 0.012,228 Bridgestone JPY 84,137 0.03

960 Capcom JPY 19,943 0.01373 Central Japan Railway JPY 53,223 0.02

19,949 CYBERDYNE JPY 232,726 0.0716,634 Daiken Medical JPY 104,228 0.0322,787 Daiwa House Industry JPY 682,429 0.21


748 East Japan Railway JPY 62,710 0.021,830 Electric Power Development JPY 39,677 0.01

594 FANUC JPY 100,309 0.0317 Frontier Real Estate Investment JPY 62,310 0.02

12,118 Fujitsu JPY 78,279 0.0295 GLP J-REIT JPY 89,459 0.03


10,859 Hitachi JPY 58,416 0.022,569 Hitachi Capital JPY 54,170 0.024,608 Honda Motor JPY 110,180 0.03


23,593 IHI JPY 70,327 0.0212 Industrial & Infrastructure Fund


4,979 Isuzu Motors JPY 53,848 0.022,835 Japan Airlines JPY 76,855 0.02

41 Japan Excellent JPY 39,779 0.01130 Japan Hotel REIT Investment JPY 80,412 0.02

34 Japan Logistics Fund JPY 62,628 0.0232 Japan Prime Realty Investment JPY 97,673 0.0348 Japan Real Estate Investment JPY 207,740 0.0664 Japan Rental Housing Investments JPY 41,520 0.0193 Japan Retail Fund Investment JPY 151,274 0.05

2,480 Japan Tobacco JPY 76,371 0.022,571 JSR JPY 38,866 0.01

20,918 JXTG Holdings JPY 80,097 0.028,443 Kakaku.com JPY 106,272 0.03

15 Kenedix Office Investment JPY 72,125 0.0217 Kenedix Retail REIT JPY 30,533 0.01


4,083 Leopalace21 JPY 22,240 0.0114,796 M3 JPY 357,345 0.11

565 Matsumotokiyoshi Holdings JPY 28,189 0.013,993 Mitsubishi JPY 73,412 0.02

47,215 Mitsubishi Estate JPY 771,306 0.2324,902 Mitsubishi UFJ Financial Group JPY 146,670 0.0462,679 Mitsubishi UFJ Financial Group – ADR – USD 370,949 0.1135,202 Mitsui Fudosan JPY 736,304 0.22


1,730 Nidec JPY 155,411 0.05361 Nintendo JPY 106,153 0.03

17 Nippon Accommodations Fund JPY 62,880 0.0249 Nippon Building Fund JPY 217,762 0.0757 Nippon Prologis REIT JPY 105,835 0.03

688 Nippon Shinyaku JPY 38,627 0.011,245 Nippon Shokubai JPY 70,263 0.024,828 Nippon Suisan Kaisha JPY 24,751 0.013,943 Nippon Telegraph & Telephone JPY 163,394 0.053,139 Nissan Motor JPY 27,388 0.012,400 Nitori Holdings JPY 281,635 0.093,126 Nitto Denko JPY 225,388 0.07

138 Nomura Real Estate Master Fund JPY 165,892 0.054,448 NTT Urban Development JPY 37,622 0.01

644 Oracle Japan JPY 36,617 0.0127,505 ORIX JPY 373,451 0.11

92 Orix JREIT JPY 118,588 0.04507 Otsuka Holdings JPY 18,934 0.01

6,294 Panasonic JPY 74,852 0.0212,466 PeptiDream JPY 345,813 0.11

9,555 Pigeon JPY 303,450 0.0940 Premier Investment JPY 34,063 0.01

1,516 Rinnai JPY 123,826 0.041,139 SCREEN Holdings JPY 66,663 0.021,560 Seven & i Holdings JPY 56,331 0.02


207






Currency Market

Value

% of

Net

Assets


389 Shimamura JPY 41,770 0.014,181 SoftBank Group JPY 296,764 0.092,027 Sosei Group JPY 195,356 0.06

14,493 Start Today JPY 312,703 0.107,296 Sumco JPY 92,631 0.036,014 Sumitomo Electric Industries JPY 81,192 0.024,338 Sumitomo Metal Mining JPY 50,792 0.021,861 Sumitomo Mitsui Trust Holdings JPY 58,367 0.02

16,296 Sumitomo Realty & Development JPY 440,610 0.132,166 Sysmex JPY 113,415 0.037,446 TechnoPro Holdings JPY 262,607 0.087,454 Tokyo Tatemono JPY 85,622 0.037,987 Toray Industries JPY 58,606 0.022,121 TV Asahi Holdings JPY 33,522 0.01

106 United Urban Investment JPY 132,984 0.0412,502 Yahoo Japan JPY 47,704 0.0110,009 Yamada Denki JPY 43,581 0.01


12,740,362 3.86Jordan



29,474 ArcelorMittal EUR 585,360 0.183,939 Grand City Properties EUR 69,103 0.02

654,463 0.20Malaysia230,547 AirAsia MYR 153,039 0.05157,875 CIMB Group Holdings MYR 212,178 0.06


433,305 0.13Malta

3,728 Brait ZAR 15,097 0.00

15,097 0.00Mexico






12,019 Euronext EUR 546,249 0.171,743 Fugro – CVA – EUR 22,660 0.015,813 Heineken EUR 494,816 0.15

94,618 ING Groep EUR 1,428,735 0.4355,941 Koninklijke Ahold Delhaize EUR 936,448 0.28

6,326 Koninklijke BAM Groep EUR 30,138 0.0111,599 Koninklijke DSM EUR 738,190 0.22

229,496 Koninklijke KPN EUR 642,820 0.1947,287 Koninklijke Philips (traded in Netherlands) EUR 1,470,391 0.4425,506 Koninklijke Philips (traded in

United States) USD 801,032 0.2426,046 Philips Lighting EUR 841,791 0.2519,848 Randstad Holding EUR 1,014,643 0.3132,777 Royal Dutch Shell – A – (traded in

Netherlands) EUR 761,573 0.2331,764 Royal Dutch Shell – A – (traded in United

Kingdom) GBP 736,175 0.22448 TKH Group EUR 21,808 0.01

2,377 Van Lanschot – CVA – EUR 57,761 0.021,286 Wereldhave EUR 55,223 0.02


11,960,005 3.62New Zealand


112,437 0.03Norway

98,549 DNB NOK 1,464,724 0.44






Currency Market

Value

% of

Net

Assets

SHARES EUR %Norway (continued)


1,805,419 0.55Philippines793,209 Emperador PHP 103,920 0.03

31,706 Jollibee Foods PHP 112,386 0.0470,374 Metropolitan Bank & Trust PHP 106,993 0.0344,382 Puregold Price Club PHP 34,355 0.01

358,699 SM Prime Holdings PHP 205,676 0.061,276,194 Vista Land & Lifescapes PHP 128,834 0.04

692,164 0.21Poland


69,898 0.02Portugal

4,572 NOS SGPS EUR 24,295 0.01

24,295 0.01Romania


89,696 0.03Russia



Kingdom) USD 156,225 0.0511,388 Lukoil – ADR – (traded in United States) USD 487,159 0.15

2,492 Novolipetsk Steel – GDR – USD 42,298 0.011,477 Ros Agro – GDR – USD 15,085 0.001,734 Severstal – GDR – USD 19,941 0.013,440 Tatneft – ADR – USD 113,700 0.03

1,156,185 0.35Singapore

88,706 Ascendas Real Estate Investment Trust SGD 147,432 0.0494,926 CapitaLand SGD 211,569 0.0679,272 CapitaLand Commercial Trust SGD 83,797 0.0399,730 CapitaLand Mall Trust SGD 125,427 0.0417,824 City Developments SGD 121,788 0.0412,602 DBS Group Holdings SGD 166,439 0.0599,316 Global Logistic Properties SGD 180,877 0.0549,223 Mapletree Commercial Trust SGD 49,995 0.0286,610 Suntec Real Estate Investment Trust SGD 103,136 0.03







997 Tiger Brands ZAR 24,546 0.01


161 BGF retail KRW 12,445 0.003,765 DMS KRW 27,265 0.016,306 Dongbu HiTek KRW 108,720 0.031,934 Dongbu Insurance KRW 100,782 0.03

687 Dongkuk Steel Mill KRW 7,718 0.001,945 Doosan Bobcat KRW 53,051 0.021,366 E-MART KRW 245,481 0.08

17,766 Hana Financial Group KRW 616,047 0.193,525 Hankook Tire KRW 171,785 0.05



15,107 KB Financial Group KRW 667,968 0.201,654 Korea Aerospace Industries KRW 72,246 0.02



208






Currency Market

Value

% of

Net

Assets


1,533 KT KRW 38,297 0.014,925 KT – ADR – USD 71,855 0.02

344 KT&G KRW 30,799 0.012,974 Kumho Petrochemical KRW 167,491 0.054,775 LG Electronics KRW 293,458 0.09

890 LG Innotek KRW 112,564 0.04682 LG Uplus KRW 8,155 0.00


2,581 POSCO KRW 567,695 0.171,108 Samsung Electronics KRW 2,018,850 0.61

350 Samsung Electronics – Pref – KRW 499,966 0.151,325 SD Biotechnologies KRW 13,051 0.00

396 Shinhan Financial Group KRW 14,957 0.0192 SK Holdings KRW 19,518 0.01

12,165 SK Hynix KRW 628,303 0.19845 SK Innovation KRW 102,622 0.03

2,200 S-Oil KRW 159,799 0.0516,447 Woori Bank KRW 232,531 0.07

7,263,015 2.20Spain

20,935 ACS Actividades de Construccion yServicios EUR 708,147 0.21

3,314 Aena EUR 566,209 0.1728,435 Amadeus IT Group EUR 1,488,581 0.4576,604 Banco Bilbao Vizcaya Argentaria – ADR – USD 561,490 0.17



34,866 Gamesa Technologica EUR 651,826 0.2010,670 Gas Natural SDG EUR 218,635 0.07

432 Grupo Catalana Occidente EUR 15,915 0.0025,295 Indra Sistemas EUR 319,598 0.1018,267 Industria de Diseno Textil EUR 613,948 0.19

8,721 Inmobiliaria Colonial EUR 66,526 0.021,446 Melia Hotels International EUR 18,924 0.00

11,117 Merlin Properties Socimi EUR 122,956 0.0458,579 Repsol EUR 784,958 0.24

2,805 Viscofan EUR 145,289 0.04


758,010 0.23Sweden

3,822 Ahlsell SEK 22,942 0.0120,773 Assa Abloy – B – SEK 399,697 0.1210,501 Atlas Copco – A – SEK 352,582 0.11

8,782 Castellum SEK 112,925 0.0328,179 Cloetta – B – SEK 101,643 0.03

2,854 Dometic Group SEK 21,714 0.014,798 Fabege SEK 80,799 0.023,093 Fastighets Balder – B – SEK 65,597 0.023,650 Hufvudstaden – A – SEK 53,000 0.02

24,755 Intrum Justitia SEK 735,944 0.2211,949 Lundin Petroleum SEK 201,348 0.06

1,623 Nobia SEK 14,340 0.0064,705 Sandvik SEK 891,210 0.2718,697 Swedbank – A – SEK 399,012 0.1231,441 Telefonaktiebolaget LM Ericsson – B – SEK 196,914 0.06



535 Aryzta CHF 15,438 0.0020 Belimo Holding CHF 76,201 0.02

3,903 Chubb USD 497,459 0.153,233 Cie Financiere Richemont CHF 233,839 0.07

58,103 Credit Suisse Group CHF 737,297 0.22353 Daetwyler Holding CHF 52,573 0.02

2,709 Dufry CHF 389,608 0.1211 Forbo Holding CHF 15,292 0.00

1,619 GAM Holding CHF 19,045 0.01698 Geberit CHF 285,673 0.09152 Inficon Holding CHF 65,858 0.02






Currency Market

Value

% of

Net

Assets


9,874 Julius Baer Group CHF 456,064 0.141,454 Kuehne & Nagel International CHF 213,078 0.06

16,086 LafargeHolcim CHF 808,536 0.2445 LEM Holding CHF 50,975 0.02

25,959 Logitech International CHF 837,784 0.2512,073 Novartis CHF 882,051 0.27

9,057 Novartis – ADR – USD 662,839 0.202,557 OC Oerlikon CHF 29,494 0.011,790 Partners Group Holding CHF 974,283 0.301,291 PSP Swiss Property CHF 105,938 0.03

10,875 Roche Holding CHF 2,431,519 0.74608 Schindler Holding CHF 112,946 0.03176 SFS Group CHF 17,516 0.01

2,476 Swiss Prime Site CHF 197,444 0.06770 Tecan Group CHF 127,043 0.04887 Temenos Group CHF 69,517 0.02

88,946 UBS Group CHF 1,322,495 0.407,611 Wolseley GBP 408,515 0.12

12,096,320 3.66Taiwan

75,153 Advanced Semiconductor Engineering TWD 84,585 0.0311,326 Airtac International Group TWD 117,350 0.04

436,274 AU Optronics TWD 174,784 0.05984 Catcher Technology TWD 10,312 0.00

153,903 Cathay Financial Holding TWD 222,234 0.076,614 Chailease Holding TWD 16,166 0.008,859 China General Plastics TWD 7,200 0.00


31,235 CTCI TWD 46,634 0.0132,498 Delta Electronics TWD 155,953 0.0548,033 E Ink Holdings TWD 39,179 0.0122,363 Formosa Chemicals & Fibre TWD 61,554 0.02


26,851 General Interface Solution Holding TWD 174,130 0.05104,767 Grand Pacific Petrochemical TWD 64,016 0.02

36,104 Hannstar Board TWD 17,014 0.01139,161 Hon Hai Precision Industry TWD 469,279 0.14421,667 Innolux TWD 193,238 0.06

2,716 Largan Precision TWD 379,650 0.1169,880 Lite-On Technology TWD 100,705 0.0327,442 Macronix International TWD 13,209 0.0015,473 MediaTek TWD 116,177 0.04

9,395 Merry Electronics TWD 51,178 0.020 Micro-Star International TWD 0 0.00

90,633 Nanya Technology TWD 143,150 0.0474,635 Pegatron TWD 205,003 0.06








5,168,224 1.56Thailand



170,489 Major Cineplex Group THB 148,511 0.0439,655 PTT – NVDR – THB 378,693 0.1132,840 PTT Exploration & Production – NVDR – THB 73,105 0.02

129,957 PTT Global Chemical – NVDR – THB 229,763 0.07148,351 Sansiri – NVDR – THB 8,654 0.00

685 Siam Cement THB 8,879 0.00


209






Currency Market

Value

% of

Net

Assets

SHARES EUR %Thailand (continued)

166 Siam Cement – NVDR – THB 2,158 0.0073,278 Star Petroleum Refining – NVDR – THB 27,613 0.0129,603 Supalai – NVDR – THB 19,866 0.0173,975 Thanachart Capital – NVDR – THB 87,828 0.0329,761 Tisco Financial Group – NVDR – THB 58,378 0.02

1,354,658 0.41Turkey



3,941 Tupras Turkiye Petrol Rafinerileri TRY 99,275 0.0354,795 Turkiye Garanti Bankasi TRY 133,521 0.0457,209 Turkiye Halk Bankasi TRY 187,247 0.0685,958 Turkiye Is Bankasi – C – TRY 159,394 0.0562,151 Turkiye Vakiflar Bankasi – D – TRY 100,087 0.0399,921 Yapi ve Kredi Bankasi TRY 111,669 0.03






2,582 Alfa Financial Software Holdings GBP 13,610 0.0039,507 Amec Foster Wheeler GBP 210,211 0.06

4,198 Ashmore Group GBP 16,888 0.004,884 ASOS GBP 319,776 0.10

46,917 Auto Trader Group GBP 203,045 0.06102,403 Aviva GBP 613,448 0.19187,896 Balfour Beatty GBP 579,061 0.18225,223 Barclays GBP 520,059 0.16

16,740 Berendsen GBP 234,495 0.07109,978 BP GBP 554,615 0.17


2,143 Burford Capital GBP 21,989 0.0117,764 Capital & Counties Properties GBP 59,215 0.0220,764 Compass Group GBP 383,092 0.12

143,504 ConvaTec Group GBP 521,682 0.164,090 Derwent London GBP 123,634 0.044,660 Diploma GBP 58,645 0.02

24,221 Electrocomponents GBP 159,163 0.051,065 Ferroglobe USD 11,157 0.001,271 Galliford Try GBP 16,807 0.00

245,142 GKN GBP 910,149 0.28120,378 GlaxoSmithKline GBP 2,242,203 0.68



25,943 Imperial Brands GBP 1,018,900 0.3124,065 Intu Properties GBP 73,752 0.0212,449 Jardine Lloyd Thompson Group GBP 170,134 0.05

5,704 John Laing Group GBP 19,682 0.0115,124 Johnson Matthey GBP 494,496 0.15


213,883 Kingfisher GBP 732,465 0.22455,654 Ladbrokes Coral Group GBP 594,181 0.18

26,909 Land Securities Group GBP 310,449 0.09352,257 Legal & General Group GBP 1,036,244 0.31

468 LivaNova USD 25,093 0.0145,390 Merlin Entertainments GBP 248,389 0.0723,405 Micro Focus International GBP 605,349 0.1869,247 National Grid GBP 750,626 0.23

6,136 Pentair USD 357,949 0.1141,754 Persimmon GBP 1,066,125 0.3261,482 Prudential GBP 1,233,066 0.3713,412 Reckitt Benckiser Group GBP 1,189,016 0.3624,558 RELX EUR 442,036 0.1340,990 Rentokil Initial GBP 127,582 0.04






Currency Market

Value

% of

Net

Assets

SHARES EUR %United Kingdom (continued)158,337 Royal Bank of Scotland Group GBP 445,766 0.13

37,933 RSA Insurance Group GBP 265,903 0.089,153 Saga GBP 21,829 0.01

51,252 Sage Group GBP 401,584 0.1211,729 Schroders GBP 414,618 0.1331,791 Segro GBP 177,122 0.05


27,742 Smith & Nephew GBP 418,632 0.1335,477 Smiths Group GBP 645,254 0.20


18,544 SSP Group GBP 100,485 0.0366,723 Standard Chartered GBP 590,590 0.18

8,873 SuperGroup GBP 151,080 0.0531,486 TechnipFMC EUR 747,636 0.23

463,033 Tesco GBP 890,147 0.273,162 TP ICAP GBP 16,829 0.00

51,180 Travis Perkins GBP 848,088 0.2640,972 Tritax Big Box REIT GBP 68,220 0.0218,932 UBM GBP 148,777 0.0410,419 Unilever USD 504,912 0.1527,434 Unilever – CVA – EUR 1,325,599 0.40

8,066 UNITE Group GBP 59,622 0.02756,974 Vodafone Group GBP 1,877,229 0.57

6,053 WH Smith GBP 118,217 0.045,026 Willis Towers Watson USD 640,968 0.19

143,333 Worldpay Group GBP 513,878 0.16117,125 WPP GBP 2,152,927 0.65


8,850 AbbVie USD 562,618 0.17637 ABM Industries USD 23,187 0.01

10,665 Acadia Healthcare USD 461,727 0.143,048 Acadia Realty Trust USD 74,284 0.022,696 ACCO Brands USD 27,542 0.016,281 Adobe Systems USD 778,865 0.241,108 AECOM USD 31,418 0.01

894 Aegion USD 17,149 0.0181,773 AES USD 796,547 0.24

1,183 AGNC Investment USD 22,088 0.011,165 Agree Realty USD 46,837 0.012,997 Air Lease USD 98,155 0.033,225 Alexandria Real Estate Equities USD 340,688 0.10

62 Alleghany USD 32,503 0.012,128 Ally Financial USD 38,986 0.01

337 Alphabet – A – USD 274,912 0.08338 Alphabet – C – USD 269,466 0.08954 Amazon.com USD 809,267 0.24656 AMC Networks – A – USD 30,727 0.01918 Amdocs USD 51,895 0.02

1,250 American Assets Trust USD 43,164 0.014,829 American Campus Communities USD 200,280 0.061,826 American Express USD 134,858 0.048,627 American Homes 4 Rent – A – USD 170,720 0.054,956 Ameriprise Financial USD 553,058 0.174,063 Amgen USD 613,579 0.19

711 Analog Devices USD 48,487 0.014,538 Ansys USD 484,143 0.152,062 Anthem USD 340,170 0.102,642 Anworth Mortgage Asset USD 13,920 0.005,767 Apartment Investment & Management – A

– USD 217,266 0.077,932 Apple Hospitality REIT USD 130,125 0.04

10,292 Archer-Daniels-Midland USD 373,411 0.112,410 Ares Capital USD 34,612 0.013,396 Ares Commercial Real Estate USD 38,977 0.011,469 Arrow Electronics USD 100,983 0.033,074 Ashford Hospitality Trust USD 16,386 0.00

216 Assurant USD 19,654 0.0110,334 AT&T USD 341,866 0.10

415 Athene Holding – A – USD 18,064 0.014,711 Autodesk USD 416,464 0.131,080 Automatic Data Processing USD 96,991 0.034,985 AvalonBay Communities USD 839,848 0.251,696 Avnet USD 57,829 0.02

14,017 Baker Hughes USD 669,907 0.20


210






Currency Market

Value

% of

Net

Assets


32,576 Bank of America USD 692,899 0.211,334 BankUnited USD 39,441 0.01

13,280 Baxter International USD 704,904 0.21266 Belden USD 17,577 0.01

1,281 Berry Global Group USD 64,029 0.02659 Blackstone Mortgage Trust – A – USD 18,262 0.01

2,021 BMC Stock Holdings USD 38,717 0.014,102 BOK Financial USD 302,603 0.09

615 Booz Allen Hamilton Holding USD 17,534 0.015,420 Boston Properties USD 584,648 0.186,223 Brandywine Realty Trust USD 95,649 0.033,149 Bristow Group USD 21,121 0.01

10,280 Brixmor Property Group USD 161,163 0.053,782 Brocade Communications Systems USD 41,810 0.018,131 Brookfield Property Partners CAD 168,417 0.051,689 Brooks Automation USD 32,127 0.01

427 Brunswick USD 23,484 0.01357 Cabot USD 16,714 0.00

3,190 Camden Property Trust USD 239,151 0.075,769 Cardinal Health USD 394,158 0.123,131 Care Capital Properties USD 73,285 0.022,510 CareTrust REIT USD 40,807 0.01

402 Carlisle USD 33,618 0.01756 Cars.com USD 17,659 0.01

7,028 CBL & Associates Properties USD 51,947 0.021,375 CDW USD 75,377 0.024,380 Centene USD 306,780 0.093,468 Cerner USD 202,129 0.063,282 Chatham Lodging Trust USD 57,808 0.02

375 Chemed USD 67,246 0.022,081 Chesapeake Lodging Trust USD 44,643 0.017,475 Chevron USD 683,732 0.211,499 Cigna USD 219,951 0.07


4,390 ClubCorp Holdings USD 50,427 0.0210,056 Coach USD 417,383 0.1315,930 Coca-Cola USD 626,433 0.19

472 Coherent USD 93,092 0.033,558 Colony NorthStar – A – USD 43,949 0.013,830 Colony Starwood Homes USD 115,207 0.03

469 Columbia Banking System USD 16,372 0.004,692 Columbia Property Trust USD 92,061 0.03

28,716 Comcast – A – USD 979,899 0.301,419 CommScope Holding USD 47,301 0.011,057 Compass Minerals International USD 60,501 0.029,981 Conagra Brands USD 312,931 0.09

842 Convergys USD 17,555 0.0126,398 Corning USD 695,493 0.21

3,365 Corporate Office Properties Trust USD 103,351 0.0316,123 Cousins Properties USD 124,256 0.04

363 Crown Holdings USD 18,980 0.016,150 CubeSmart USD 129,634 0.043,630 Cullen/Frost Bankers USD 298,921 0.09

362 Curtiss-Wright USD 29,092 0.0152,645 Cypress Semiconductor USD 630,048 0.19

3,215 CyrusOne USD 157,138 0.057,861 CYS Investments USD 57,963 0.02

25,099 Dana USD 491,400 0.156,262 Danaher USD 463,366 0.143,544 DCT Industrial Trust USD 166,065 0.05

12,114 DDR USD 96,336 0.032,627 Deere & Co USD 284,715 0.09

805 Diamondback Energy USD 62,704 0.02868 Dick’s Sporting Goods USD 30,318 0.01

5,690 Digital Realty Trust USD 563,505 0.175,117 Douglas Emmett USD 171,414 0.05

16,665 Dow Chemical USD 921,531 0.28296 Dril-Quip USD 12,658 0.00

13,340 Duke Realty USD 326,910 0.102,943 DuPont Fabros Technology USD 157,824 0.051,595 E*TRADE Financial USD 53,199 0.021,365 East West Bancorp USD 70,133 0.02

891 Easterly Government Properties USD 16,364 0.001,103 EastGroup Properties USD 81,076 0.022,872 Education Realty Trust USD 97,575 0.034,178 Empire State Realty Trust – A – USD 76,077 0.02

694 EnerSys USD 44,093 0.01






Currency Market

Value

% of

Net

Assets


517 Envision Healthcare USD 28,397 0.012,605 EPR Properties USD 164,177 0.057,297 EQT USD 374,855 0.114,480 Equity Commonwealth USD 124,119 0.042,881 Equity LifeStyle Properties USD 218,092 0.07

13,141 Equity Residential USD 758,453 0.232,205 Essent Group USD 71,808 0.022,405 Essex Property Trust USD 542,450 0.168,225 Expeditors International of Washington USD 407,279 0.126,560 Extended Stay America USD 111,343 0.034,464 Extra Space Storage USD 305,292 0.09

358 Extraction Oil & Gas USD 4,216 0.005,284 Facebook – A – USD 699,423 0.211,335 FactSet Research Systems USD 194,473 0.06

669 FCB Financial Holdings – A – USD 28,026 0.012,594 Federal Realty Investment Trust USD 287,454 0.095,111 FelCor Lodging Trust USD 32,309 0.011,347 Ferro USD 21,598 0.011,872 Finish Line – A – USD 23,258 0.01

745 First American Financial USD 29,196 0.0198 First Citizens BancShares – A – USD 32,013 0.01

20,199 First Data – A – USD 322,326 0.104,515 First Industrial Realty Trust USD 113,295 0.03

898 First Midwest Bancorp USD 18,356 0.014,320 First Republic Bank USD 379,162 0.11



7,468 Forest City Realty Trust – A – USD 158,264 0.053,787 Franklin Street Properties USD 36,785 0.01

31,638 Freeport-McMoRan USD 333,151 0.10883 FTD Cos USD 15,484 0.00469 FTI Consulting USD 14,379 0.00

1,592 Gardner Denver Holdings USD 30,156 0.0152,904 General Electric USD 1,252,852 0.3822,996 GGP USD 475,025 0.1410,018 Gilead Sciences USD 621,716 0.19

2,183 Global Net Lease USD 42,569 0.012,564 Government Properties Income Trust USD 41,158 0.015,528 Gramercy Property Trust USD 144,010 0.04

556 Granite Construction USD 23,510 0.014,629 Graphic Packaging Holding USD 55,925 0.02

302 Group 1 Automotive USD 16,763 0.001,150 Gulfport Energy USD 14,878 0.00

10,329 Halliburton USD 386,773 0.12944 Hanmi Financial USD 23,557 0.01769 Hanover Insurance Group USD 59,741 0.02

16,254 Hartford Financial Services Group USD 749,176 0.2317,363 HCP USD 486,538 0.15

3,899 Healthcare Realty Trust USD 116,743 0.046,740 Healthcare Trust of America – A – USD 183,851 0.06

936 Heidrick & Struggles International USD 17,856 0.01998 Hersha Hospitality Trust USD 16,197 0.00

3,772 Highwoods Properties USD 167,719 0.05595 Hillenbrand USD 18,847 0.01

7,261 Home Depot USD 976,643 0.305,290 Hudson Pacific Properties USD 158,589 0.05

164 Huntington Ingalls Industries USD 26,819 0.01560 IAC/InterActiveCorp USD 50,726 0.02

1,583 Independence Realty Trust USD 13,701 0.00212 Infinity Property & Casualty USD 17,496 0.01604 Insight Enterprises USD 21,173 0.01460 Integra LifeSciences Holdings USD 21,974 0.01

10,541 Intel USD 311,822 0.0912,193 Intercontinental Exchange USD 704,742 0.21

8,967 Invesco USD 276,666 0.082,365 Investors Bancorp USD 27,705 0.013,106 Investors Real Estate Trust USD 16,911 0.01


245 JELD-WEN Holding USD 6,959 0.0013,409 Johnson Controls International USD 509,774 0.15

5,019 Jones Lang LaSalle USD 550,012 0.1718,194 JPMorgan Chase & Co USD 1,457,993 0.44

1,414 KAR Auction Services USD 52,030 0.02


211






Currency Market

Value

% of

Net

Assets


3,496 Kilroy Realty USD 230,347 0.0715,347 Kimco Realty USD 246,917 0.07

2,879 Kite Realty Group Trust USD 47,784 0.014,875 Kosmos Energy USD 27,401 0.01

20,693 Kroger USD 423,104 0.132,825 La Quinta Holdings USD 36,584 0.011,320 La-Z-Boy USD 37,603 0.011,146 LCI Industries USD 102,846 0.03

26,576 Lennar – A – USD 1,242,422 0.382,502 Leucadia National USD 57,393 0.027,735 Lexington Realty Trust USD 67,206 0.025,522 Liberty Property Trust USD 197,103 0.061,798 Life Storage USD 116,812 0.04

410 LifePoint Health USD 24,122 0.01631 Lions Gate Entertainment – B – USD 14,538 0.00674 Lithia Motors – A – USD 55,648 0.02667 Live Nation Entertainment USD 20,392 0.01

1,516 LTC Properties USD 68,319 0.023,139 M&T Bank USD 445,646 0.134,129 Macerich USD 210,184 0.062,938 Mack-Cali Realty USD 69,905 0.02

226 ManpowerGroup USD 22,146 0.013,157 Martin Marietta Materials USD 616,027 0.19

319 MAXIMUS USD 17,507 0.0111,895 Medical Properties Trust USD 134,228 0.0417,319 Merck & Co USD 973,174 0.29

7,278 MFA Financial USD 53,539 0.021,777 MGM Growth Properties – A – USD 45,466 0.018,840 Microchip Technology USD 598,202 0.18

11,063 Micron Technology USD 289,643 0.0927,878 Microsoft USD 1,684,831 0.51

4,060 Mid-America Apartment Communities USD 375,098 0.11937 Minerals Technologies USD 60,131 0.02

11,726 Mondelez International – A – USD 444,048 0.135,601 Monogram Residential Trust REIT USD 47,684 0.01

12,443 Monster Beverage USD 541,988 0.162,296 MSCI USD 207,322 0.06

888 MTGE Investment USD 14,636 0.0023,161 Mylan USD 788,313 0.2431,141 Nabors Industries USD 222,247 0.07

9,221 National Fuel Gas USD 451,464 0.141,478 National General Holdings USD 27,340 0.011,492 National Health Investors USD 103,612 0.035,573 National Retail Properties USD 191,046 0.061,540 National Storage Affiliates Trust USD 31,213 0.016,274 Navient USD 91,583 0.031,767 Navigant Consulting USD 30,618 0.01

858 Nelnet – A – USD 35,348 0.015,839 New York REIT USD 44,229 0.019,092 Newfield Exploration USD 226,877 0.072,336 NorthStar Realty Europe USD 25,967 0.01

386 Nu Skin Enterprises – A – USD 21,289 0.014,823 Office Depot USD 23,849 0.011,086 Olin USD 28,838 0.017,334 Omega Healthcare Investors USD 212,319 0.06

947 On Assignment USD 44,942 0.0127,878 ON Semiconductor USD 343,168 0.1010,739 Oracle USD 472,115 0.14

9,294 Oshkosh USD 561,277 0.17469 Owens & Minor USD 13,225 0.00

7,473 Paramount Group USD 104,832 0.03823 PAREXEL International USD 62,703 0.02

1,211 Parkway USD 24,309 0.013,630 Parsley Energy – A – USD 88,320 0.039,167 PayPal Holdings USD 431,357 0.132,440 Pennsylvania Real Estate Investment Trust USD 24,212 0.015,882 PepsiCo USD 595,611 0.181,383 PharMerica USD 31,829 0.017,279 Phillips 66 USD 527,730 0.165,313 Physicians Realty Trust USD 93,818 0.035,681 Piedmont Office Realty Trust – A – USD 105,002 0.033,070 Pioneer Natural Resources USD 429,473 0.13

245 PolyOne USD 8,333 0.00475 Portland General Electric USD 19,032 0.01

4,743 PPG Industries USD 457,286 0.14706 PRA Group USD 23,469 0.01

5,956 Procter & Gamble USD 455,130 0.1419,095 Prologis USD 981,748 0.30






Currency Market

Value

% of

Net

Assets


661 PS Business Parks USD 76,748 0.025,480 Public Storage USD 1,002,009 0.30

969 PulteGroup USD 20,843 0.013,297 QEP Resources USD 29,198 0.011,778 QTS Realty Trust – A – USD 81,566 0.026,286 QUALCOMM USD 304,334 0.093,677 Quality Care Properties USD 59,023 0.023,371 Radian Group USD 48,319 0.013,097 Ramco-Gershenson Properties Trust USD 35,030 0.01

296 Raymond James Financial USD 20,838 0.01593 Realogy Holdings USD 16,871 0.01

9,740 Realty Income USD 471,219 0.145,580 Regency Centers USD 306,432 0.09

776 Regeneron Pharmaceuticals USD 334,080 0.10526 Reinsurance Group of America USD 59,162 0.02

3,995 Retail Opportunity Investments USD 67,219 0.029,333 Retail Properties of America – A – USD 99,911 0.032,481 Rexford Industrial Realty USD 59,698 0.022,547 Rice Energy USD 59,469 0.024,678 RLJ Lodging Trust USD 81,495 0.022,876 RPX USD 35,176 0.011,218 RSP Permian USD 34,473 0.012,498 Sabra Health Care REIT USD 52,773 0.023,213 Schlumberger USD 185,487 0.06

334 Scholastic USD 12,747 0.001,268 Schweitzer-Mauduit International USD 41,376 0.01

504 Scripps Networks Interactive – A – USD 30,189 0.016,852 Seagate Technology USD 232,809 0.076,336 Sealed Air USD 248,643 0.087,313 SEI Investments USD 344,830 0.102,159 Select Income REIT USD 45,484 0.011,824 Select Medical Holdings USD 24,545 0.018,156 Senior Housing Properties Trust USD 146,169 0.04

949 Seritage Growth Properties – A – USD 34,917 0.01809 Service International USD 23,733 0.01

11,123 Simon Property Group USD 1,577,548 0.482,629 Skechers U.S.A. – A – USD 68,004 0.023,663 SL Green Realty USD 339,791 0.103,548 SLM USD 35,771 0.01

18,147 Spirit Realty Capital USD 117,900 0.043,019 STAG Industrial USD 73,048 0.022,427 Starwood Property Trust USD 47,636 0.016,746 State Street USD 530,697 0.162,267 Steel Dynamics USD 71,167 0.021,824 Steven Madden USD 63,885 0.021,596 Stifel Financial USD 64,335 0.026,025 Store Capital USD 118,600 0.044,287 Summit Hotel Properties USD 70,095 0.022,690 Sun Communities USD 206,780 0.063,802 SunCoke Energy USD 36,337 0.01

399 SVB Financial Group USD 61,488 0.02916 Sykes Enterprises USD 26,922 0.01


3,364 Tailored Brands USD 32,918 0.013,698 Tanger Factory Outlet Centers USD 84,240 0.031,788 Taubman Centers USD 93,347 0.031,045 TEGNA USD 13,198 0.002,015 TeleTech Holdings USD 72,080 0.02


15,863 Terex USD 521,554 0.161,702 Terreno Realty USD 50,226 0.02

781 Tesoro USD 64,127 0.021,162 Tetra Tech USD 46,618 0.012,442 Tier REIT USD 39,574 0.013,436 Time Warner USD 302,502 0.09

267 Torchmark USD 17,896 0.01664 Tutor Perini USD 16,726 0.00

9,735 Two Harbors Investment USD 84,589 0.039,455 UDR USD 323,056 0.101,433 United Parcel Service – B – USD 138,961 0.04

757 Universal USD 42,921 0.013,984 Urban Edge Properties USD 82,893 0.032,227 Valvoline USD 46,313 0.01

167 Varex Imaging USD 4,943 0.003,670 Varian Medical Systems USD 332,029 0.10

12,944 Ventas USD 788,503 0.24


212






Currency Market

Value

% of

Net

Assets


34,761 VEREIT USD 248,084 0.085,231 Visa – A – USD 430,121 0.136,247 Vornado Realty Trust USD 514,295 0.168,368 Walgreens Boots Alliance USD 574,556 0.172,188 Walker & Dunlop USD 93,658 0.036,118 Washington Prime Group USD 44,895 0.012,615 Washington Real Estate Investment Trust USD 73,135 0.024,065 Weingarten Realty Investors USD 107,280 0.03

13,371 Welltower USD 877,520 0.271,216 WESCO International USD 61,076 0.028,595 Western Digital USD 667,656 0.203,348 WestRock USD 166,311 0.052,456 WildHorse Resource Development USD 26,640 0.013,859 World Fuel Services USD 130,110 0.043,683 WP Carey USD 213,155 0.06

10,922 Yum China Holdings USD 377,579 0.112,573 Yum! Brands USD 166,399 0.05

13,948 Zions Bancorporation USD 536,987 0.16

79,842,826 24.18Vietnam

13,009 Taisun International Holding TWD 51,556 0.0163,089 Vietnam Dairy Products VND 383,513 0.12

163,961 Vinh Hoan VND 373,129 0.11

808,198 0.24


8 Natixis Asset Management NatixisTresorerie Plus – IC – EUR 831,506 0.25






Currency Market

Value

% of

Net

Assets




INVESTMENTS 321,380,234 97.31



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet


(7) 2-Years US Note Future 09/17 USD (1,326,348) 1,287 0.00(18) 5-Years US Note Future 09/17 USD (1,846,732) 6,090 0.00(17) Bundesrepublik Deutschland Future BOBL 09/17 EUR (2,226,031) 24,092 0.01

(8) Bundesrepublik Deutschland Future BUND 09/17 EUR (1,263,465) 23,218 0.01(2) Bundesrepublik Deutschland Future BUXL 09/17 EUR (317,747) 7,434 0.00(8) Bundesrepublik Deutschland Future SCHATZ 09/17 EUR (954,203) 3,036 0.00(1) EUR/USD Currency Future 09/17 USD (149,076) (2,638) (0.00)1 EURO STOXX 50 Index Future 09/17 EUR 25,576 (712) (0.00)

(3) Euro-OAT Future 09/17 EUR (403,555) 3,704 0.000 FTSE 100 Index Future 09/17 GBP 27,327 (642) (0.00)

(0) GBP/USD Currency Future 09/17 USD (19,006) (427) (0.00)(2) Long Gilt Future 09/17 GBP (256,948) 3,765 0.0025 Mini MSCI Emerging Markets Future 09/17 USD 1,113,633 (7,271) (0.00)

2 S&P 500 E-mini Index Future 09/17 USD 228,543 (739) (0.00)(6) Short Euro-BTP Future 09/17 EUR (682,440) (1,732) (0.00)1 Topix Index Future 09/17 JPY 104,152 384 0.00

(1) US Long Bond Future 09/17 USD (124,661) 2,503 0.00



213




Purchased Sold


in Fund% ofNet


1,035,392 EUR 909,260 GBP 26/07/2017 325 0.0026,791 EUR 23,590 GBP 26/07/2017 (62) (0.00)88,323 EUR 77,567 GBP 26/07/2017 24 (0.00)

5,485 EUR 6,267 USD 26/07/2017 (4) (0.00)413,969 EUR 462,390 USD 26/07/2017 8,996 0.01

7,303 EUR 8,229 USD 26/07/2017 95 0.0034,941 EUR 39,029 USD 26/07/2017 759 0.0010,438 GBP 11,847 EUR 26/07/2017 35 0.00

872 GBP 990 EUR 26/07/2017 3 0.0016,148 USD 14,132 EUR 26/07/2017 10 0.00







214






Currency Market

Value

% of

Net

Assets


79,808 Alumina AUD 103,052 0.0611,693 Australia & New Zealand Banking Group AUD 225,854 0.1210,412 Bank of Queensland AUD 80,175 0.04

9,543 BHP Billiton #N/A AUD 149,413 0.08775 BHP Billiton (traded in United Kingdom) GBP 10,383 0.01

8,098 BlueScope Steel AUD 71,940 0.043,310 Caltex Australia AUD 70,370 0.041,884 CSL AUD 174,908 0.10

170,428 Fairfax Media AUD 126,079 0.0730,872 Genworth Mortgage Insurance Australia AUD 60,833 0.0313,305 Harvey Norman Holdings AUD 34,180 0.0241,779 HT&E AUD 74,178 0.04

2,608 Lend Lease Group AUD 29,208 0.021,367 Macquarie Group AUD 81,386 0.05

36,069 Mirvac Group AUD 51,668 0.035,441 Newcrest Mining AUD 73,770 0.04

19,521 Oil Search AUD 89,536 0.0512,477 Origin Energy AUD 57,563 0.0324,641 Qantas Airways AUD 94,788 0.0532,740 South32 AUD 59,010 0.0321,337 Syrah Resources AUD 39,749 0.02


1,829,557 1.01Austria

151 ams CHF 8,622 0.0028 ANDRITZ EUR 1,491 0.0093 Erste Group Bank EUR 3,106 0.00

4,592 Lenzing EUR 720,584 0.4090 Mayr Melnhof Karton EUR 10,298 0.0148 OMV EUR 2,172 0.00

1,651 Porr EUR 45,608 0.0369 Raiffeisen Bank International EUR 1,522 0.0029 voestalpine EUR 1,187 0.00

794,590 0.44Bangladesh


262,029 0.14Belgium


91 Barco EUR 8,169 0.0023 Colruyt EUR 1,050 0.00

6,468 D’ieteren EUR 264,679 0.1531 Groupe Bruxelles Lambert EUR 2,581 0.00

5,000 KBC Group EUR 332,081 0.1844 Proximus EUR 1,347 0.00

3,941 Solvay EUR 463,034 0.2610 Telenet Group Holding EUR 563 0.00


1,565,030 0.86Bermuda

928 Assured Guaranty USD 33,965 0.02236 Axis Capital Holdings USD 13,364 0.01

4,931 Maiden Holdings USD 47,987 0.022,263 Marvell Technology Group USD 32,784 0.02

467 Validus Holdings USD 21,266 0.01

149,366 0.08Brazil



6,571 Braskem – Pref – BRL 59,466 0.034,819 BTG Pactual Group BRL 19,127 0.01

13,281 Cia de Saneamento Basico do Estado deSao Paulo – ADR – USD 110,851 0.06

8,722 Cia de Saneamento do Parana – Pref – BRL 25,157 0.011,544 Cia Paranaense de Energia – ADR – USD 9,938 0.011,734 Gafisa BRL 4,964 0.007,159 Itau Unibanco Holding – ADR – USD 69,363 0.04

70,782 JBS BRL 122,312 0.071,473 M Dias Branco BRL 19,221 0.01

518 Magazine Luiza BRL 35,109 0.02






Currency Market

Value

% of

Net

Assets


83,604 Metalurgica Gerdau – Pref – BRL 109,954 0.0614,656 MRV Engenharia e Participacoes BRL 52,436 0.03

9,908 Petroleo Brasileiro – ADR – USD 69,409 0.0418,555 Petroleo Brasileiro – Pref – BRL 60,740 0.03

7,231 Sao Martinho BRL 32,912 0.021,885 TIM Participacoes – ADR – USD 24,454 0.016,792 Transmissora Alianca de Energia Eletrica BRL 39,614 0.028,248 Vale – ADR – USD 63,278 0.04

10,423 Vale – Pref – BRL 74,220 0.04

1,380,446 0.76Canada

0 International Petroleum SEK 0 0.00

0 0.00Chile


579,244 0.32China

96,801 Agile Property Holdings HKD 77,735 0.04697,567 Agricultural Bank of China – H – HKD 289,098 0.16

90,633 Air China – H – HKD 81,943 0.0511,737 Alibaba Group Holding – ADR – USD 1,449,947 0.80

120,992 Aluminum of China – H – HKD 54,356 0.0314,011 Anhui Conch Cement – H – HKD 42,723 0.02

8,788 Autohome – ADR – USD 349,501 0.1974,095 BAIC Motor – H – HKD 62,996 0.03

634 Baidu – ADR – USD 99,392 0.06480,779 Bank of China – H – HKD 206,812 0.11

12,284 Baozu – ADR – USD 238,783 0.1338,164 BYD Electronic International HKD 66,353 0.04

734 Changyou.com – ADR – USD 24,934 0.01248,777 China Cinda Asset Management – H – HKD 81,308 0.05

75,082 China CITIC Bank – H – HKD 40,308 0.0228,401 China Communications Construction – H – HKD 32,090 0.02

597,402 China Construction Bank – H – HKD 405,933 0.2247,690 China Evergrande Group HKD 75,095 0.04

109,877 China Forestry Holdings EUR 0 0.00123,397 China Huarong Asset Management – H – HKD 41,993 0.02


82,896 China National Building Material – H – HKD 43,200 0.02226,494 China Petroleum & Chemical – H – HKD 154,920 0.09

49,924 China Railway Construction – H – HKD 57,081 0.0376,624 China Railway Group – H – HKD 52,926 0.03

8,284 China Resources Pharmaceutical Group HKD 9,071 0.0112,529 China Shenhua Energyn – H – HKD 24,457 0.0139,415 China Southern Airlines – H – HKD 29,217 0.02

278,154 China Telecom – H – HKD 115,902 0.0640,738 China Yongda Automobiles Services

Holdings HKD 36,375 0.0230,398 China ZhengTong Auto Services Holdings HKD 21,338 0.0131,892 Chinammunications Services – H – HKD 16,119 0.01

204,780 Chongqing Rural Commercial Bank – H – HKD 121,208 0.07186,445 CIFI Holdings Group HKD 72,663 0.04

38,874 Country Garden Holdings HKD 39,513 0.0280,352 Dongfeng Motor Group – H – HKD 83,297 0.0562,424 Fufeng Group HKD 29,446 0.0259,465 Geely Automobile Holdings HKD 112,470 0.0623,633 Guangshen Railway – H – HKD 10,272 0.01

166,561 Guangzhou Automobile Group – H – HKD 256,287 0.1470,068 Guangzhou R&F Properties – H – HKD 95,537 0.0541,182 Harbin Electric – H – HKD 18,224 0.0163,302 Hua Hong Semiconductor HKD 75,363 0.04

100,871 Huaneng Power International – H – HKD 61,404 0.03549,018 Industrial & Commercial Bank of China –

H – HKD 324,959 0.183,355 JA Solar Holdings – ADR – USD 18,679 0.013,818 JD.com – ADR – USD 131,284 0.07

16,293 Jiangxi Copper – H – HKD 23,460 0.0110,726 Kaisa Group Holdings HKD 2,976 0.0090,100 KWG Property Holding HKD 52,925 0.0384,862 Li Ning HKD 56,615 0.0373,902 Logan Property Holdings HKD 42,746 0.0246,389 Lonking Holdings HKD 12,765 0.0116,181 Luthai Textile – B – HKD 15,574 0.01

293 Momo – ADR – USD 9,491 0.01


215






Currency Market

Value

% of

Net

Assets

SHARES EUR %China (continued)

1,345 NetEase – ADR – USD 354,408 0.2016,045 New China Life Insurance – H – HKD 71,540 0.04

1,873 New Oriental Education & TechnologyGroup – ADR – USD 115,730 0.06

111,120 PetroChina – H – HKD 59,656 0.0363,020 PICC Property & Casualty – H – HKD 92,297 0.0546,773 Powerlong Real Estate Holdings HKD 17,651 0.0117,649 Shanghai Haohai Biological Technology –

H – HKD 84,048 0.0531,818 Shanghai Pharmaceuticals Holding – H – HKD 83,086 0.0546,505 Shenzhou International Group Holdings HKD 267,949 0.15

106,519 Shui On Land HKD 22,611 0.01450 SINA USD 33,501 0.02

18,609 Sino-Ocean Group Holding HKD 7,984 0.0021,123 Sinopec Shanghai Petrochemical – H – HKD 9,917 0.0157,839 Sinotruk Hong Kong HKD 36,833 0.0212,354 Tencent Holdings HKD 387,394 0.2139,998 Tianneng Power International HKD 28,796 0.0267,565 Times Property Holdings HKD 37,031 0.02

16 Weibo – ADR – USD 914 0.006,494 Weiqiao Textile – H – HKD 4,070 0.00




8,244,330 4.54Colombia


48,494 0.03Denmark

156 ALK-Abello DKK 20,344 0.011 AP Moeller - Maersk – A – DKK 1,740 0.002 AP Moeller - Maersk – B – DKK 4,113 0.00


10,990 Danske Bank DKK 370,125 0.208,798 Dfds DKK 410,483 0.23

57 DONG Energy DKK 2,258 0.004,943 DSV DKK 265,905 0.15

241 FLSmidth & Co DKK 13,323 0.0122 Genmab DKK 4,158 0.00

1,154 H Lundbeck DKK 56,720 0.0345 ISS DKK 1,565 0.00

167 Jyske Bank DKK 8,490 0.00165 NKT DKK 11,574 0.01


81 Novozymes – B – DKK 3,118 0.003,518 Pandora DKK 287,484 0.16

67 Rockwool International – B – DKK 12,921 0.013,869 Spar Nord Bank DKK 44,437 0.02

131,018 TDC DKK 667,161 0.3711 Tryg DKK 220 0.00

6,659 Vestas Wind Systems DKK 538,233 0.3056 William Demant Holding DKK 1,262 0.00

3,328,762 1.83Finland

235 Cargotec – B – EUR 13,048 0.0137 Elisa EUR 1,255 0.00

142 Fortum EUR 1,951 0.006,065 Kone – B – EUR 270,134 0.15


89,163 Nokia EUR 477,466 0.262,494 Nokian Renkaat EUR 90,388 0.05

38 Orion – B – EUR 2,145 0.002,263 Sampo – A – EUR 101,547 0.06

175 Stora Enso – R – EUR 1,983 0.0021,277 UPM-Kymmene EUR 531,059 0.29

565 Valmet EUR 9,615 0.0156 Wartsila EUR 2,906 0.00

1,201 YIT EUR 8,791 0.01

1,515,130 0.84






Currency Market

Value

% of

Net

Assets

SHARES EUR %France



20,493 Alstom EUR 627,283 0.355,828 Altran Technologies EUR 83,160 0.059,550 Amundi EUR 604,991 0.336,546 Arkema EUR 611,626 0.344,130 Atos EUR 507,595 0.28

691 AXA EUR 16,542 0.01398 BioMerieux EUR 75,343 0.04

30,507 BNP Paribas EUR 1,923,760 1.06213 Bollore EUR 847 0.00

14,469 Bouygues EUR 534,198 0.29103 Bureau Veritas EUR 1,994 0.00

6,665 Capgemini EUR 603,053 0.33209 Carrefour EUR 4,621 0.00

31 Casino Guichard Perrachon EUR 1,612 0.0013,059 Cie de Saint-Gobain EUR 610,902 0.34

6,747 Cie Generale des Etablissements Michelin EUR 785,334 0.4336 CNP Assurances EUR 711 0.00

27,961 Credit Agricole EUR 393,825 0.22289 Criteo – ADR – USD 12,421 0.01209 Danone EUR 13,765 0.01

13,164 Danone – ADR – USD 173,358 0.101 Dassault Aviation EUR 1,314 0.00

40 Dassault Systemes EUR 3,167 0.0080 Edenred EUR 1,832 0.0029 Eiffage EUR 2,270 0.00

188 Electricite de France EUR 1,785 0.004,867 Elior Group EUR 123,820 0.076,930 Elis EUR 139,017 0.08

617 Engie EUR 8,152 0.0081 Essilor International EUR 8,976 0.01

8 Eurazeo EUR 526 0.00921 Europcar Groupe EUR 11,803 0.01

83 Eutelsat Communications EUR 1,850 0.0030,226 Faurecia EUR 1,344,158 0.74

9 Fonciere Des Regions EUR 735 0.0019 Gecina EUR 2,627 0.00

203 Groupe Eurotunnel EUR 1,895 0.0012 Hermes International EUR 5,248 0.00

5 ICADE EUR 347 0.0011 Iliad EUR 2,315 0.0014 Imerys EUR 1,062 0.0021 Ingenico Group EUR 1,665 0.0017 Ipsen EUR 2,097 0.0032 JCDecaux EUR 932 0.0027 Kering EUR 7,998 0.0066 Klepierre EUR 2,354 0.0029 Lagardere EUR 803 0.00

12,329 Legrand EUR 755,148 0.42971 L’Oreal EUR 177,051 0.10100 LVMH Moet Hennessy Louis Vuitton EUR 21,880 0.01398 Natixis EUR 2,340 0.00331 Nexans EUR 15,870 0.01248 Nexity EUR 12,627 0.01775 Orange EUR 10,760 0.01

1,923 Pernod Ricard EUR 225,510 0.12197 Peugeot EUR 3,437 0.00

10,161 Publicis Groupe EUR 663,633 0.3710 Remy Cointreau EUR 1,063 0.00

7,411 Renault EUR 587,310 0.32118 Rexel EUR 1,684 0.00115 Safran EUR 9,247 0.01

18,406 Sanofi EUR 1,541,669 0.8518,826 Schneider Electric EUR 1,266,394 0.70


31,104 Societe Generale EUR 1,465,311 0.813,832 Sodexo EUR 433,803 0.24

101 Suez EUR 1,643 0.00254 Tarkett EUR 10,341 0.01


41 Thales EUR 3,873 0.0052,125 TOTAL EUR 2,256,210 1.24


216






Currency Market

Value

% of

Net

Assets


39 Unibail-Rodamco EUR 8,515 0.017,457 Valeo EUR 439,886 0.24

38,417 Vallourec EUR 204,343 0.11203 Veolia Environnement EUR 3,747 0.00

4,028 Vinci EUR 301,018 0.17362 Vivendi EUR 7,054 0.00

7 Wendel EUR 914 0.001,906 Worldline EUR 57,181 0.03

87 Zodiac Aerospace EUR 2,055 0.00

19,823,859 10.93Germany

9,060 Aareal Bank EUR 314,460 0.173,341 adidas EUR 560,500 0.311,675 Adidas – ADR – USD 140,926 0.086,970 Allianz EUR 1,201,595 0.661,354 Aurubis EUR 93,121 0.05

23 Axel Springer EUR 1,188 0.007,852 BASF EUR 636,728 0.35

18,758 Bayer EUR 2,123,384 1.176,429 Bayerische Motoren Werke EUR 522,514 0.29

21 Bayerische Motoren Werke – Pref – EUR 1,518 0.001,877 Beiersdorf EUR 172,768 0.101,397 Brenntag EUR 70,824 0.04

181 Carl Zeiss Meditec EUR 8,213 0.01413 Commerzbank EUR 4,311 0.00

5,399 Continental EUR 1,020,195 0.5642 Covestro EUR 2,638 0.00

225 CTS Eventim & Co EUR 8,703 0.01346 Daimler EUR 21,920 0.01724 Deutsche Bank EUR 11,237 0.01

8,272 Deutsche Boerse EUR 764,491 0.42102 Deutsche Lufthansa EUR 2,044 0.00

16,096 Deutsche Post EUR 528,276 0.2939,607 Deutsche Telekom EUR 622,617 0.34

131 Deutsche Wohnen EUR 4,391 0.00852 E.ON EUR 7,030 0.01


Worldwide EUR 1,233 0.006,592 Fresenius & Co EUR 494,790 0.27

82 Fresenius Medical Care & Co EUR 6,916 0.00815 FUCHS PETROLUB – Pref – EUR 38,863 0.02

71 GEA Group EUR 2,544 0.0019 Hannover Rueck EUR 2,009 0.0058 HeidelbergCement EUR 4,892 0.0037 Henkel & Co EUR 3,967 0.0070 Henkel & Co – Pref – EUR 8,443 0.01


8,201 Infineon Technologies EUR 151,590 0.0853 Innogy EUR 1,838 0.0089 K+S EUR 1,996 0.00

3,269 KION Group EUR 218,732 0.121,076 Kloeckner & Co EUR 9,921 0.01

40 LANXESS EUR 2,633 0.0065 Linde EUR 10,784 0.0114 MAN EUR 1,285 0.00

3,765 Merck EUR 398,191 0.2283 METRO EUR 2,451 0.00

3,748 MTU Aero Engines EUR 462,893 0.263,713 Muenchener



6,756 ProSiebenSat.1 Media EUR 247,530 0.1433,497 RWE EUR 584,349 0.3226,999 Salzgitter EUR 964,285 0.53

367 SAP EUR 33,537 0.0223,896 Schaeffler – Pref – EUR 299,654 0.17

8,137 Siemens EUR 979,350 0.54241 Stroeer EUR 12,615 0.01

53 Symrise EUR 3,320 0.00161 Telefonica Deutschland Holding EUR 703 0.00143 thyssenkrupp EUR 3,553 0.00205 TUI GBP 2,610 0.00475 Uniper EUR 7,805 0.01






Currency Market

Value

% of

Net

Assets


3,391 United Internet EUR 163,255 0.099 Volkswagen EUR 1,193 0.00

3,870 Volkswagen – Pref – EUR 516,121 0.29181 Vonovia EUR 6,295 0.00

95 Wacker Chemie EUR 9,080 0.016,933 Wirecard EUR 386,325 0.21


15,558,530 8.58Greece

555 JUMBO EUR 8,892 0.00493 Motor Oil Hellas Corinth Refineries EUR 9,397 0.01


27,301 AIA Group HKD 174,928 0.1029,710 BOC Hong Kong Holdings HKD 124,631 0.0713,361 Cheung Kong Property Holdings HKD 91,764 0.05

148,124 China Agri-Industries Holdings HKD 53,902 0.0351,742 China Everbright HKD 98,793 0.0556,388 China Resources Cement Holdings HKD 24,573 0.0151,600 China Resources Land HKD 131,845 0.07

185,151 China Unicom Hong Kong HKD 241,222 0.1326,180 Chow Tai Fook Jewellery Group HKD 24,317 0.01


33,222 Giordano International HKD 16,604 0.0142,040 Haier Electronics Group HKD 95,849 0.0526,715 K Wah International Holdings HKD 14,222 0.0144,554 Kingboard Chemical Holdings HKD 155,625 0.0949,495 Kingboard Laminates Holdings HKD 52,365 0.03


47,542 Nine Dragons Paper Holdings HKD 55,532 0.0336,817 Peace Mark Holdings HKD 0 0.0059,598 Shimao Property Holdings HKD 89,428 0.0549,048 Skyworth Digital Holdings HKD 26,718 0.0112,485 Sun Art Retail Group HKD 8,722 0.0194,567 WH Group HKD 83,695 0.0512,359 Wharf Holdings HKD 89,809 0.05

8,462 Wheelock & Co HKD 55,979 0.038,332 Yue Yuen Industrial Holdings HKD 30,320 0.02

258,984 Yuexiu Property HKD 38,686 0.02

1,994,821 1.10Hungary


41,528 0.02India

4,141 Adani Enterprises INR 7,449 0.0012,936 Balrampur Chini Mills INR 26,497 0.0210,992 Bharat Petroleum INR 95,335 0.05

6,973 Chennai Petroleum INR 33,478 0.026,455 Emami INR 94,166 0.059,969 HDFC Bank INR 223,402 0.12

753 Hero MotoCorp INR 37,793 0.0229,032 Hindalco Industries INR 75,197 0.0412,735 Hindustan Petroleum INR 88,158 0.05

6,334 ICICI Bank INR 24,929 0.0117,770 Indian Oil INR 92,850 0.05

2,645 IndusInd Bank INR 53,065 0.0325,676 ITC INR 112,721 0.06

8,835 Lupin INR 127,019 0.077,009 Mahindra & Mahindra Financial Services INR 32,796 0.02

34,292 NTPC INR 73,935 0.0442,311 Oil & Natural Gas INR 90,277 0.05





18,434 Tata Motors – A – INR 65,837 0.042,496 Tata Steel INR 18,474 0.015,000 UPL INR 56,999 0.03


217






Currency Market

Value

% of

Net

Assets



2,087,979 1.15Indonesia

2,405,281 Ace Hardware Indonesia IDR 167,729 0.09451,050 Adaro Energy IDR 46,883 0.03404,238 Astra International IDR 237,346 0.13262,803 Bank Negara Indonesia Persero IDR 114,107 0.06356,986 Bank Rakyat Indonesia Persero IDR 358,144 0.20244,445 Cikarang Listrindo IDR 19,297 0.01226,739 Delta Dunia Makmur IDR 12,679 0.01


22,049 Indo Tambangraya Megah IDR 25,095 0.01200,756 Indofood CBP Sukses Makmur IDR 116,222 0.07903,820 Mayora Indah IDR 131,405 0.07197,292 Perusahaan Gas Negara Persero IDR 29,203 0.02


1,363,972 0.75Ireland

41 AerCap Holdings USD 1,669 0.0015,132 Allied Irish Banks EUR 74,906 0.0410,290 Bank of Ireland EUR 2,367 0.00

323 CRH EUR 10,015 0.0135 DCC GBP 2,745 0.00

52,013 Grafton Group GBP 417,615 0.23515 ICON USD 44,137 0.02

58 Kerry Group – A – EUR 4,397 0.008,570 Medtronic USD 666,841 0.372,064 Origin Enterprises EUR 13,172 0.011,403 Paddy Power Betfair EUR 131,130 0.07


1,691,938 0.93Isle Of Man


20,076 0.01Italy

2,589 Anima Holding EUR 16,244 0.01479 Assicurazioni Generali EUR 6,907 0.00166 Atlantia EUR 4,097 0.00

21,387 Azimut Holding EUR 375,341 0.212,103 BPER Banca EUR 9,183 0.01

327 Cerved Information Solutions EUR 3,066 0.004,743 Danieli & C Officine Meccaniche EUR 101,271 0.06

19,016 Danieli & C Officine Meccaniche – RSP – EUR 298,165 0.16290 De’ Longhi EUR 7,968 0.00949 DiaSorin EUR 63,828 0.04

145,730 Enel EUR 684,054 0.3898,857 Eni EUR 1,300,960 0.72

48 Ferrari EUR 3,583 0.003,081 FinecoBank Banca Fineco EUR 21,225 0.01

261,041 Intesa Sanpaolo EUR 724,650 0.40434 Intesa Sanpaolo – RSP – EUR 1,126 0.00

53 Luxottica Group EUR 2,703 0.00160 Mediobanca EUR 1,386 0.00

14,365 OVS EUR 89,494 0.05203 Poste Italiane EUR 1,216 0.00


1,241 Safilo Group EUR 8,042 0.01236 Saipem EUR 764 0.00884 Snam EUR 3,371 0.00


564 Terna Rete Elettrica Nazionale EUR 2,665 0.0023,283 UniCredit EUR 380,675 0.21

558 UnipolSai Assicurazioni EUR 1,066 0.00452 Yoox Net-A-Porter Group EUR 10,953 0.01

4,132,766 2.28Japan

1,838 Air Water JPY 29,608 0.022,442 Ariake Japan JPY 149,225 0.083,626 Asahi Kasei JPY 34,170 0.024,413 Astellas Pharma JPY 47,333 0.03






Currency Market

Value

% of

Net

Assets


1,107 Bandai Namco Holdings JPY 33,098 0.022,221 Bridgestone JPY 83,863 0.05

957 Capcom JPY 19,878 0.01371 Central Japan Railway JPY 53,049 0.03

12,753 CYBERDYNE JPY 148,770 0.0810,633 Daiken Medical JPY 66,628 0.04

745 East Japan Railway JPY 62,506 0.031,824 Electric Power Development JPY 39,548 0.02

379 FANUC JPY 64,123 0.0412,079 Fujitsu JPY 78,024 0.04


10,824 Hitachi JPY 58,226 0.032,561 Hitachi Capital JPY 53,993 0.034,593 Honda Motor JPY 109,821 0.06

23,516 IHI JPY 70,098 0.044,963 Isuzu Motors JPY 53,673 0.032,826 Japan Airlines JPY 76,604 0.042,472 Japan Tobacco JPY 76,123 0.042,563 JSR JPY 38,739 0.02

20,850 JXTG Holdings JPY 79,837 0.045,397 Kakaku.com JPY 67,934 0.041,825 Komatsu JPY 40,644 0.024,070 Leopalace21 JPY 22,168 0.019,459 M3 JPY 228,432 0.13

564 Matsumotokiyoshi Holdings JPY 28,097 0.023,980 Mitsubishi JPY 73,173 0.04

24,821 Mitsubishi UFJ Financial Group JPY 146,192 0.0849,522 Mitsubishi UFJ Financial Group – ADR – USD 293,080 0.16

1,959 Mitsui Fudosan JPY 40,979 0.021,106 Nidec JPY 99,346 0.06

360 Nintendo JPY 105,807 0.06686 Nippon Shinyaku JPY 38,501 0.02

1,241 Nippon Shokubai JPY 70,034 0.044,812 Nippon Suisan Kaisha JPY 24,670 0.013,931 Nippon Telegraph & Telephone JPY 162,862 0.093,129 Nissan Motor JPY 27,299 0.021,534 Nitori Holdings JPY 180,035 0.101,998 Nitto Denko JPY 144,079 0.08

642 Oracle Japan JPY 36,498 0.0219,349 ORIX JPY 262,712 0.15

505 Otsuka Holdings JPY 18,872 0.016,274 Panasonic JPY 74,608 0.047,969 PeptiDream JPY 221,061 0.126,108 Pigeon JPY 193,981 0.11

969 Rinnai JPY 79,156 0.041,135 SCREEN Holdings JPY 66,446 0.04

997 Seven & i Holdings JPY 36,009 0.02388 Shimamura JPY 41,634 0.02

2,672 SoftBank Group JPY 189,706 0.101,296 Sosei Group JPY 124,881 0.079,265 Start Today JPY 199,895 0.117,272 Sumco JPY 92,330 0.055,995 Sumitomo Electric Industries JPY 80,927 0.054,324 Sumitomo Metal Mining JPY 50,627 0.031,855 Sumitomo Mitsui Trust Holdings JPY 58,177 0.031,385 Sysmex JPY 72,501 0.044,760 TechnoPro Holdings JPY 167,872 0.097,961 Toray Industries JPY 58,415 0.032,115 TV Asahi Holdings JPY 33,412 0.02

12,461 Yahoo Japan JPY 47,549 0.039,976 Yamada Denki JPY 43,439 0.02


5,670,049 3.13Jersey


2,750 0.00Jordan



20,667 ArcelorMittal EUR 410,453 0.235 Eurofins Scientific EUR 2,287 0.00

13 Millicom International Cellular – SDR – SEK 685 0.0018 RTL Group EUR 1,190 0.00


218






Currency Market

Value

% of

Net

Assets

SHARES EUR %Luxembourg (continued)


419,804 0.23Malaysia173,239 AirAsia MYR 114,997 0.06118,631 CIMB Group Holdings MYR 159,436 0.09


325,596 0.18Malta

2,801 Brait ZAR 11,344 0.01

11,344 0.01Mexico


108 Fresnillo GBP 1,820 0.0010,870 Macquarie Mexico Real Estate






42 Boskalis Westminster EUR 1,204 0.008,328 Euronext EUR 378,491 0.21

46 EXOR EUR 2,202 0.00908 Fugro – CVA – EUR 11,802 0.01

24 Gemalto EUR 1,287 0.003,796 Heineken EUR 323,190 0.18

41 Heineken Holding EUR 3,263 0.0065,728 ING Groep EUR 992,488 0.5541,012 Koninklijke Ahold Delhaize EUR 686,541 0.38

3,295 Koninklijke BAM Groep EUR 15,697 0.018,557 Koninklijke DSM EUR 544,546 0.30

157,501 Koninklijke KPN EUR 441,162 0.2433,949 Koninklijke Philips (traded in Netherlands) EUR 1,055,641 0.5816,604 Koninklijke Philips (traded in

United States) USD 521,478 0.2922 Koninklijke Vopak EUR 888 0.00


18,827 Philips Lighting EUR 608,493 0.3371 QIAGEN EUR 2,072 0.00

13,785 Randstad Holding EUR 704,703 0.3924,899 Royal Dutch Shell – A – GBP 577,070 0.3222,338 Royal Dutch Shell – A – (traded in

Netherlands) EUR 519,025 0.291,380 Royal Dutch Shell – B – GBP 32,415 0.02

234 TKH Group EUR 11,358 0.011,238 Van Lanschot – CVA – EUR 30,085 0.02




64,406 0.04Norway

70,294 DNB NOK 1,044,778 0.5893 Gjensidige Forsikring NOK 1,388 0.00


5,850 Petroleum Geo-Services NOK 8,878 0.011 Schibsted – A – NOK 19 0.004 Schibsted – B – NOK 72 0.00

15,585 Statoil NOK 225,765 0.12271 Telenor NOK 3,929 0.00


1,294,365 0.71Philippines507,058 Emperador PHP 66,430 0.04

20,268 Jollibee Foods PHP 71,843 0.04






Currency Market

Value

% of

Net

Assets

SHARES EUR %Philippines (continued)


815,807 Vista Land & Lifescapes PHP 82,357 0.05

323,306 0.18Poland


52,523 0.03Portugal


70 Jeronimo Martins EUR 1,187 0.002,381 NOS SGPS EUR 12,654 0.01

18,653 0.01Russia



Kingdom) USD 117,391 0.067,761 Lukoil – ADR – (traded in United States) USD 332,007 0.181,872 Novolipetsk Steel – GDR – USD 31,784 0.021,110 Ros Agro – GDR – USD 11,335 0.011,303 Severstal – GDR – USD 14,984 0.012,585 Tatneft – ADR – USD 85,437 0.05


7,219 DBS Group Holdings SGD 95,338 0.05




9,233 Investec #N/A ZAR 59,619 0.03288 Investec (traded in United Kingdom) GBP 1,882 0.00171 Mediclinic International GBP 1,448 0.00155 Mondi GBP 3,563 0.00


749 Tiger Brands ZAR 18,444 0.01

579,420 0.32South Korea

121 BGF retail KRW 9,351 0.012,829 DMS KRW 20,488 0.014,738 Dongbu HiTek KRW 81,695 0.051,108 Dongbu Insurance KRW 57,729 0.03

517 Dongkuk Steel Mill KRW 5,799 0.001,413 Doosan Bobcat KRW 38,536 0.02

946 E-MART KRW 169,986 0.0911,525 Hana Financial Group KRW 399,642 0.22

2,019 Hankook Tire KRW 98,401 0.05102 Hyundai Motor – Pref – KRW 9,131 0.00

79 Hyundai Motor – Pref – (traded in SouthKorea) KRW 6,838 0.00

2,204 JB Financial Group KRW 10,741 0.019,898 KB Financial Group KRW 437,651 0.241,201 Korea Aerospace Industries KRW 52,479 0.03


1,071 KT KRW 26,745 0.012,821 KT – ADR – USD 41,159 0.02

258 KT&G KRW 23,143 0.011,838 Kumho Petrochemical KRW 103,511 0.063,588 LG Electronics KRW 220,512 0.12

510 LG Innotek KRW 64,478 0.04513 LG Uplus KRW 6,128 0.00


1,800 POSCO KRW 395,779 0.22778 Samsung Electronics KRW 1,416,684 0.78239 Samsung Electronics – Pref – KRW 341,162 0.19996 SD Biotechnologies KRW 9,807 0.01297 Shinhan Financial Group KRW 11,239 0.01

69 SK Holdings KRW 14,666 0.01


219






Currency Market

Value

% of

Net

Assets


9,141 SK Hynix KRW 472,122 0.26635 SK Innovation KRW 77,113 0.04

1,515 S-Oil KRW 110,049 0.0612,358 Woori Bank KRW 174,730 0.10

5,020,674 2.77Spain

269 Abertis Infraestructuras EUR 4,366 0.0014,609 ACS Actividades de Construccion y


Servicios – Rights – EUR 72 0.002,272 Aena EUR 388,123 0.21

19,633 Amadeus IT Group EUR 1,027,792 0.572,385 Banco Bilbao Vizcaya Argentaria EUR 17,328 0.01

60,523 Banco Bilbao Vizcaya Argentaria – ADR – USD 443,623 0.242,072 Banco de Sabadell EUR 3,685 0.00


204 Bankinter EUR 1,644 0.001,393 CaixaBank EUR 5,825 0.00


188 Distribuidora Internacional deAlimentacion EUR 1,025 0.00


205 Ferrovial EUR 3,978 0.0023,749 Gamesa Technologica EUR 443,986 0.25

7,342 Gas Natural SDG EUR 150,430 0.0898 Grifols EUR 2,389 0.00

225 Grupo Catalana Occidente EUR 8,289 0.012,142 Iberdrola EUR 14,851 0.01

17,239 Indra Sistemas EUR 217,811 0.1212,786 Industria de Diseno Textil EUR 429,741 0.24

220 Mapfre EUR 674 0.00753 Melia Hotels International EUR 9,856 0.01150 Red Electrica EUR 2,751 0.00

43,371 Repsol EUR 581,171 0.32462 Repsol – Rights – EUR 185 0.00

1,659 Telefonica EUR 14,991 0.011,741 Viscofan EUR 90,196 0.05


484,558 0.27Sweden

1,991 Ahlsell SEK 11,949 0.01138 Alfa Laval SEK 2,474 0.00

13,640 Assa Abloy – B – SEK 262,448 0.156,959 Atlas Copco – A – SEK 233,661 0.13

151 Atlas Copco – B – SEK 4,585 0.0081 Boliden SEK 1,940 0.00

17,975 Cloetta – B – SEK 64,836 0.041,486 Dometic Group SEK 11,310 0.01

100 Electrolux – B – SEK 2,875 0.00201 Essity – B – SEK 4,818 0.00

41 Getinge – B – SEK 700 0.00369 Hennes & Mauritz – B – SEK 8,044 0.01

85 Hexagon – B – SEK 3,523 0.00131 Husqvarna – B – SEK 1,136 0.00


17,152 Intrum Justitia SEK 509,929 0.28163 Investor – B – SEK 6,863 0.00

67 Kinnevik – B – SEK 1,793 0.0018 L E Lundbergforetagenn – B – SEK 1,279 0.00

8,171 Lundin Petroleum SEK 137,686 0.08845 Nobia SEK 7,469 0.00

1,100 Nordea Bank SEK 12,260 0.0144,300 Sandvik SEK 610,166 0.34

77 Securitas – B – SEK 1,132 0.00590 Skandinaviska Enskilda Banken – A – SEK 6,248 0.00144 Skanska – B – SEK 2,989 0.00146 SKF – B – SEK 2,599 0.00593 Svenska Handelsbanken – A – SEK 7,434 0.00






Currency Market

Value

% of

Net

Assets


12,982 Swedbank – A – SEK 277,047 0.1562 Swedish Match SEK 1,908 0.00

158 Tele2 – B – SEK 1,446 0.0022,619 Telefonaktiebolaget LM Ericsson – B – SEK 141,665 0.08

1,058 Telia SEK 4,267 0.00522 Thule Group SEK 8,576 0.01

8,260 Trelleborg – B – SEK 165,111 0.09603 Volvo – B – SEK 9,008 0.01


734 ABB CHF 15,922 0.0163 Adecco Group CHF 4,214 0.00

279 Aryzta CHF 8,041 0.0118 Baloise Holding CHF 2,421 0.00

0 Barry Callebaut CHF 491 0.0013 Belimo Holding CHF 48,608 0.03

0 Chocoladefabriken Lindt & Spruengli CHF 2,423 0.000 Chocoladefabriken Lindt & Spruengli –

REG – CHF 2,081 0.003,083 Chubb USD 393,033 0.222,255 Cie Financiere Richemont CHF 163,073 0.09

85 Coca-Cola (traded in United Kingdom) GBP 2,184 0.0040,509 Credit Suisse Group CHF 514,042 0.28

225 Daetwyler Holding CHF 33,536 0.021,847 Dufry CHF 265,626 0.15

4 EMS-Chemie Holding CHF 2,467 0.006 Forbo Holding CHF 7,965 0.00

843 GAM Holding CHF 9,919 0.01459 Geberit CHF 187,982 0.10


97 Inficon Holding CHF 42,010 0.026,379 Julius Baer Group CHF 294,616 0.16

944 Kuehne & Nagel International CHF 138,319 0.0811,940 LafargeHolcim CHF 600,124 0.33

29 LEM Holding CHF 32,516 0.0217,987 Logitech International CHF 580,493 0.32

24 Lonza Group CHF 4,634 0.001,139 Nestle CHF 87,045 0.059,666 Novartis CHF 706,216 0.396,749 Novartis – ADR – USD 493,932 0.271,332 OC Oerlikon CHF 15,362 0.01

16 Pargesa Holding CHF 1,082 0.001,247 Partners Group Holding CHF 678,740 0.377,690 Roche Holding CHF 1,719,292 0.95

404 Schindler Holding CHF 75,120 0.049 Schindler Holding – REG – CHF 1,549 0.00

92 SFS Group CHF 9,123 0.012 SGS CHF 4,262 0.001 Sika CHF 4,044 0.00


4 Straumann Holding CHF 2,213 0.0012 Swatch Group CHF 4,008 0.0014 Swatch Group – REG – CHF 873 0.0012 Swiss Life Holding CHF 3,692 0.0020 Swiss Prime Site CHF 1,624 0.00

126 Swiss Re CHF 10,098 0.0110 Swisscom CHF 4,259 0.00

491 Tecan Group CHF 81,038 0.05566 Temenos Group CHF 44,344 0.03

60,298 UBS Group CHF 896,530 0.4913 Vifor Pharma CHF 1,228 0.00

5,369 Wolseley GBP 288,209 0.1656 Zurich Insurance Group CHF 14,185 0.01

8,531,750 4.70Taiwan

43,049 Advanced Semiconductor Engineering TWD 48,452 0.038,227 Airtac International Group TWD 85,243 0.05

327,827 AU Optronics TWD 131,337 0.07740 Catcher Technology TWD 7,749 0.00

115,646 Cathay Financial Holding TWD 166,992 0.094,970 Chailease Holding TWD 12,148 0.016,657 China General Plastics TWD 5,410 0.00


22,689 CTCI TWD 33,875 0.02


220






Currency Market

Value

% of

Net

Assets

SHARES EUR %Taiwan (continued)

23,606 Delta Electronics TWD 113,284 0.0636,093 E Ink Holdings TWD 29,440 0.0216,804 Formosa Chemicals & Fibre TWD 46,253 0.03


20,177 General Interface Solution Holding TWD 130,846 0.0778,725 Grand Pacific Petrochemical TWD 48,103 0.0327,129 Hannstar Board TWD 12,784 0.0199,431 Hon Hai Precision Industry TWD 335,300 0.18

316,851 Innolux TWD 145,204 0.081,694 Largan Precision TWD 236,828 0.13

52,510 Lite-On Technology TWD 75,672 0.0420,620 Macronix International TWD 9,925 0.0111,240 MediaTek TWD 84,391 0.05

5,382 Merry Electronics TWD 29,315 0.020 Micro-Star International TWD 0 0.00

68,104 Nanya Technology TWD 107,567 0.0647,808 Pegatron TWD 131,317 0.07








3,651,444 2.01Thailand



108,985 Major Cineplex Group THB 94,936 0.0529,798 PTT – NVDR – THB 284,559 0.1624,676 PTT Exploration & Production – NVDR – THB 54,933 0.0397,653 PTT Global Chemical – NVDR – THB 172,650 0.10

111,475 Sansiri – NVDR – THB 6,502 0.00498 Siam Cement THB 6,450 0.00120 Siam Cement – NVDR – THB 1,568 0.00

55,063 Star Petroleum Refining – NVDR – THB 20,749 0.0122,245 Supalai – NVDR – THB 14,928 0.0155,586 Thanachart Capital – NVDR – THB 65,996 0.0422,363 Tisco Financial Group – NVDR – THB 43,867 0.02

999,316 0.55Turkey

7,689 Haci Omer Sabanci Holding TRY 20,919 0.0110,264 KOC Holding TRY 41,333 0.02

8,234 Soda Sanayii TRY 13,445 0.014,001 Tekfen Holding TRY 8,684 0.00

10,131 Trakya Cam Sanayii TRY 9,758 0.012,962 Tupras Turkiye Petrol Rafinerileri TRY 74,598 0.04













Currency Market

Value

% of

Net

Assets


79 Admiral Group GBP 1,805 0.001,345 Alfa Financial Software Holdings GBP 7,089 0.01

26,925 Amec Foster Wheeler GBP 143,263 0.08451 Anglo American GBP 5,257 0.00

2,187 Ashmore Group GBP 8,796 0.01211 Ashtead Group GBP 3,821 0.00

3,311 ASOS GBP 216,796 0.12114 Associated British Foods GBP 3,815 0.00466 AstraZeneca GBP 27,263 0.02

32,182 Auto Trader Group GBP 139,277 0.0871,379 Aviva GBP 427,594 0.24

118 Babcock International Group GBP 1,179 0.00128,055 Balfour Beatty GBP 394,640 0.22159,744 Barclays GBP 368,863 0.20

431 Barratt Developments GBP 2,767 0.0010,678 Berendsen GBP 149,580 0.08


3,998 British American Tobacco GBP 238,299 0.13287 British Land GBP 1,978 0.00

3,287 BT Group GBP 11,035 0.01142 Bunzl GBP 3,699 0.00170 Burberry Group GBP 3,224 0.00

1,116 Burford Capital GBP 11,453 0.01314 Capita GBP 2,471 0.00




57 Croda International GBP 2,520 0.00934 Diageo GBP 24,118 0.01

2,973 Diploma GBP 37,409 0.02514 Direct Line Insurance Group GBP 2,082 0.00414 Dixons Carphone GBP 1,338 0.00

75 easyJet GBP 1,166 0.0015,450 Electrocomponents GBP 101,527 0.06

366 Experian GBP 6,569 0.00743 Ferroglobe USD 7,784 0.01334 Fiat Chrysler Automobiles EUR 3,086 0.00602 G4S GBP 2,240 0.00662 Galliford Try GBP 8,754 0.01

180,290 GKN GBP 669,371 0.3784,571 GlaxoSmithKline GBP 1,575,243 0.87

7,198 Halma GBP 90,178 0.05336 Hammerson GBP 2,195 0.00

77 Hargreaves Lansdown GBP 1,135 0.00150,334 HSBC Holdings GBP 1,218,521 0.67

1,683 IG Group Holdings GBP 10,886 0.01128 IMI GBP 1,736 0.00

18,147 Imperial Brands GBP 712,705 0.39202 Inmarsat GBP 1,770 0.00




7,941 Jardine Lloyd Thompson Group GBP 108,525 0.062,971 John Laing Group GBP 10,251 0.01

10,552 Johnson Matthey GBP 345,034 0.191,478 Jupiter Fund Management GBP 8,500 0.01

157,367 Kingfisher GBP 538,920 0.30308,615 Ladbrokes Coral Group GBP 402,439 0.22

277 Land Securities Group GBP 3,197 0.00246,135 Legal & General Group GBP 724,060 0.40

244 LivaNova USD 13,069 0.0126,329 Lloyds Banking Group GBP 19,835 0.01

116 London Stock Exchange Group GBP 4,823 0.00450 Marks & Spencer Group GBP 1,710 0.00361 Meggitt GBP 1,960 0.00

31,089 Merlin Entertainments GBP 170,128 0.0916,217 Micro Focus International GBP 419,440 0.2351,990 National Grid GBP 563,564 0.31

0 NEX Group GBP 0 0.0061 Next GBP 2,698 0.00

1,914 Old Mutual GBP 4,216 0.00


221






Currency Market

Value

% of

Net

Assets


244 Pearson GBP 1,925 0.003,994 Pentair USD 233,027 0.13

29,051 Persimmon GBP 741,767 0.41100 Petrofac GBP 502 0.00

70 Provident Financial GBP 1,947 0.0044,365 Prudential GBP 889,761 0.49

9,126 Reckitt Benckiser Group GBP 809,025 0.4517,391 RELX (traded in Netherlands) EUR 313,034 0.17

420 RELX (traded in United Kingdom) GBP 7,932 0.0126,147 Rentokil Initial GBP 81,383 0.05

456 Rio Tinto GBP 16,834 0.01628 Rolls-Royce Holdings GBP 6,374 0.00

109,286 Royal Bank of Scotland Group GBP 307,675 0.17349 Royal Mail GBP 1,676 0.00

26,146 RSA Insurance Group GBP 183,276 0.104,767 Saga GBP 11,370 0.01

35,931 Sage Group GBP 281,540 0.168,002 Schroders GBP 282,888 0.16

421 Segro GBP 2,348 0.00103 Severn Trent GBP 2,550 0.00

133,835 SIG GBP 226,499 0.13373 Sky GBP 4,225 0.00

17,996 Smith & Nephew GBP 271,562 0.1524,749 Smiths Group GBP 450,133 0.25


393 SSE GBP 6,501 0.0011,829 SSP Group GBP 64,098 0.04

197 St James’s Place GBP 2,652 0.0046,748 Standard Chartered GBP 413,786 0.23

837 Standard Life GBP 3,805 0.005,500 SuperGroup GBP 93,644 0.05


23,064 TechnipFMC EUR 547,647 0.30318,355 Tesco GBP 612,015 0.34

1,647 TP ICAP GBP 8,765 0.0134,977 Travis Perkins GBP 579,601 0.3212,077 UBM GBP 94,902 0.05

473 Unilever (traded in United Kingdom) GBP 22,377 0.018,232 Unilever (traded in United States) USD 398,921 0.22

19,073 Unilever – CVA – EUR 921,626 0.51288 United Utilities Group GBP 2,850 0.00

543,821 Vodafone Group GBP 1,348,628 0.7468 Weir Group GBP 1,340 0.00

3,861 WH Smith GBP 75,409 0.0478 Whitbread GBP 3,545 0.00

3,425 Willis Towers Watson USD 436,831 0.24939 Wm Morrison Supermarkets GBP 2,578 0.00

97,771 Worldpay Group GBP 350,528 0.1983,186 WPP GBP 1,529,085 0.84


6,992 AbbVie USD 444,514 0.24444 ABM Industries USD 16,176 0.01

8,426 Acadia Healthcare USD 364,802 0.201,881 ACCO Brands USD 19,214 0.014,962 Adobe Systems USD 615,367 0.34

773 AECOM USD 21,919 0.01624 Aegion USD 11,964 0.01

57,570 AES USD 560,782 0.31826 AGNC Investment USD 15,410 0.01

2,091 Air Lease USD 68,477 0.0443 Alleghany USD 22,675 0.01

1,484 Ally Financial USD 27,199 0.01211 Alphabet – A – USD 172,228 0.09212 Alphabet – C – USD 168,816 0.09597 Amazon.com USD 506,993 0.28458 AMC Networks – A – USD 21,436 0.01641 Amdocs USD 36,204 0.02

1,144 American Express USD 84,486 0.053,915 Ameriprise Financial USD 436,961 0.243,053 Amgen USD 461,080 0.25

445 Analog Devices USD 30,376 0.023,585 Ansys USD 382,512 0.211,343 Anthem USD 221,453 0.121,843 Anworth Mortgage Asset USD 9,711 0.01






Currency Market

Value

% of

Net

Assets


8,132 Archer-Daniels-Midland USD 295,026 0.161,681 Ares Capital USD 24,147 0.012,369 Ares Commercial Real Estate USD 27,192 0.011,025 Arrow Electronics USD 70,450 0.04


290 Athene Holding – A – USD 12,602 0.012,952 Autodesk USD 260,909 0.14

676 Automatic Data Processing USD 60,763 0.031,184 Avnet USD 40,344 0.029,125 Baker Hughes USD 436,115 0.24

25,737 Bank of America USD 547,447 0.30931 BankUnited USD 27,516 0.02

10,492 Baxter International USD 556,932 0.31185 Belden USD 12,262 0.01894 Berry Global Group USD 44,669 0.02460 Blackstone Mortgage Trust – A – USD 12,740 0.01

1,410 BMC Stock Holdings USD 27,011 0.013,241 BOK Financial USD 239,081 0.13

429 Booz Allen Hamilton Holding USD 12,232 0.012,197 Bristow Group USD 14,735 0.012,638 Brocade Communications Systems USD 29,169 0.021,179 Brooks Automation USD 22,413 0.01

298 Brunswick USD 16,384 0.01249 Cabot USD 11,660 0.01

3,756 Cardinal Health USD 256,600 0.14280 Carlisle USD 23,453 0.01

68 Carnival GBP 3,905 0.00528 Cars.com USD 12,320 0.01959 CDW USD 52,586 0.03

2,852 Centene USD 199,716 0.112,173 Cerner USD 126,631 0.071,278 Chatham Lodging Trust USD 22,513 0.01

262 Chemed USD 46,914 0.034,866 Chevron USD 445,115 0.25

976 Cigna USD 143,190 0.0830,147 Cisco Systems USD 827,328 0.4612,046 Citigroup USD 706,357 0.39

3,063 ClubCorp Holdings USD 35,180 0.026,546 Coach USD 271,719 0.15

11,726 Coca-Cola (traded in United States) USD 461,115 0.25329 Coherent USD 64,945 0.04

2,482 Colony NorthStar – A – USD 30,660 0.02327 Columbia Banking System USD 11,422 0.01

18,694 Comcast – A – USD 637,922 0.35990 CommScope Holding USD 32,999 0.02662 Compass Minerals International USD 37,903 0.02

6,498 Conagra Brands USD 203,720 0.11587 Convergys USD 12,247 0.01

17,185 Corning USD 452,771 0.25253 Crown Holdings USD 13,241 0.01

2,868 Cullen/Frost Bankers USD 236,172 0.13252 Curtiss-Wright USD 20,296 0.01

34,272 Cypress Semiconductor USD 410,166 0.235,484 CYS Investments USD 40,438 0.02

16,340 Dana USD 319,905 0.184,948 Danaher USD 366,097 0.201,646 Deere & Co USD 178,370 0.10

562 Diamondback Energy USD 43,745 0.02606 Dick’s Sporting Goods USD 21,151 0.01

12,104 Dow Chemical USD 669,305 0.37206 Dril-Quip USD 8,830 0.00

1,113 E*TRADE Financial USD 37,114 0.02953 East West Bancorp USD 48,927 0.03484 EnerSys USD 30,761 0.02361 Envision Healthcare USD 19,811 0.01

5,765 EQT USD 296,166 0.161,538 Essent Group USD 50,096 0.035,153 Expeditors International of Washington USD 255,154 0.14

249 Extraction Oil & Gas USD 2,941 0.003,310 Facebook – A – USD 438,178 0.24

836 FactSet Research Systems USD 121,834 0.07467 FCB Financial Holdings – A – USD 19,552 0.01940 Ferro USD 15,068 0.01

1,306 Finish Line – A – USD 16,226 0.01520 First American Financial USD 20,368 0.01

68 First Citizens BancShares – A – USD 22,334 0.0113,150 First Data – A – USD 209,837 0.12


222






Currency Market

Value

% of

Net

Assets


627 First Midwest Bancorp USD 12,806 0.013,413 First Republic Bank USD 299,569 0.16



20,597 Freeport-McMoRan USD 216,884 0.12616 FTD Cos USD 10,803 0.01327 FTI Consulting USD 10,031 0.01

1,110 Gardner Denver Holdings USD 21,038 0.0137,054 General Electric USD 877,493 0.48

6,522 Gilead Sciences USD 404,742 0.22388 Granite Construction USD 16,402 0.01

3,229 Graphic Packaging Holding USD 39,016 0.02211 Group 1 Automotive USD 11,694 0.01803 Gulfport Energy USD 10,379 0.01

8,160 Halliburton USD 305,582 0.17659 Hanmi Financial USD 16,434 0.01536 Hanover Insurance Group USD 41,678 0.02

10,581 Hartford Financial Services Group USD 487,719 0.27653 Heidrick & Struggles International USD 12,457 0.01415 Hillenbrand USD 13,148 0.01

5,429 Home Depot USD 730,193 0.40115 Huntington Ingalls Industries USD 18,710 0.01391 IAC/InterActiveCorp USD 35,389 0.02148 Infinity Property & Casualty USD 12,206 0.01421 Insight Enterprises USD 14,771 0.01321 Integra LifeSciences Holdings USD 15,330 0.01

6,862 Intel USD 202,998 0.117,938 Intercontinental Exchange USD 458,793 0.255,838 Invesco USD 180,112 0.101,650 Investors Bancorp USD 19,328 0.01


171 JELD-WEN Holding USD 4,855 0.008,729 Johnson Controls International USD 331,867 0.183,282 Jones Lang LaSalle USD 359,725 0.20

12,576 JPMorgan Chase & Co USD 1,007,833 0.56986 KAR Auction Services USD 36,298 0.02

3,401 Kosmos Energy USD 19,116 0.0116,350 Kroger USD 334,287 0.18

921 La-Z-Boy USD 26,233 0.01799 LCI Industries USD 71,749 0.04

18,993 Lennar – A – USD 887,899 0.491,746 Leucadia National USD 40,040 0.02

286 LifePoint Health USD 16,828 0.01440 Lions Gate Entertainment – B – USD 10,143 0.01470 Lithia Motors – A – USD 38,822 0.02466 Live Nation Entertainment USD 14,226 0.01

2,480 M&T Bank USD 352,097 0.19158 ManpowerGroup USD 15,450 0.01

2,494 Martin Marietta Materials USD 486,712 0.27222 MAXIMUS USD 12,213 0.01

11,239 Merck & Co USD 631,516 0.355,078 MFA Financial USD 37,351 0.026,984 Microchip Technology USD 472,628 0.267,202 Micron Technology USD 188,560 0.10

19,550 Microsoft USD 1,181,521 0.65654 Minerals Technologies USD 41,950 0.02

9,265 Mondelez International – A – USD 350,834 0.197,795 Monster Beverage USD 339,547 0.191,438 MSCI USD 129,884 0.07

619 MTGE Investment USD 10,211 0.0115,785 Mylan USD 537,249 0.3020,273 Nabors Industries USD 144,685 0.08

7,286 National Fuel Gas USD 356,693 0.201,031 National General Holdings USD 19,073 0.014,377 Navient USD 63,892 0.041,233 Navigant Consulting USD 21,360 0.01

598 Nelnet – A – USD 24,660 0.015,919 Newfield Exploration USD 147,699 0.08

270 Nu Skin Enterprises – A – USD 14,852 0.013,365 Office Depot USD 16,638 0.01

758 Olin USD 20,119 0.01660 On Assignment USD 31,353 0.02

18,492 ON Semiconductor USD 227,634 0.13






Currency Market

Value

% of

Net

Assets


6,728 Oracle USD 295,773 0.167,343 Oshkosh USD 443,455 0.24

327 Owens & Minor USD 9,226 0.00574 PAREXEL International USD 43,744 0.02

2,532 Parsley Energy – A – USD 61,616 0.037,243 PayPal Holdings USD 340,807 0.193,829 PepsiCo USD 387,747 0.21

965 PharMerica USD 22,205 0.015,751 Phillips 66 USD 416,949 0.232,425 Pioneer Natural Resources USD 339,319 0.19

171 PolyOne USD 5,813 0.00331 Portland General Electric USD 13,277 0.01

3,747 PPG Industries USD 361,293 0.20493 PRA Group USD 16,373 0.01

3,814 Procter & Gamble USD 291,452 0.16676 PulteGroup USD 14,541 0.01

2,300 QEP Resources USD 20,370 0.013,938 QUALCOMM USD 190,661 0.102,352 Radian Group USD 33,710 0.02

207 Raymond James Financial USD 14,538 0.01414 Realogy Holdings USD 11,770 0.01486 Regeneron Pharmaceuticals USD 209,296 0.12367 Reinsurance Group of America USD 41,274 0.02

1,777 Rice Energy USD 41,488 0.022,006 RPX USD 24,541 0.01

850 RSP Permian USD 24,050 0.012,013 Schlumberger USD 116,205 0.06

233 Scholastic USD 8,893 0.00884 Schweitzer-Mauduit International USD 28,865 0.02352 Scripps Networks Interactive – A – USD 21,061 0.01

4,670 Seagate Technology USD 158,664 0.094,125 Sealed Air USD 161,868 0.094,582 SEI Investments USD 216,031 0.121,272 Select Medical Holdings USD 17,124 0.01

565 Service International USD 16,557 0.01322 Shire GBP 15,542 0.01

1,834 Skechers U.S.A. – A – USD 47,442 0.032,475 SLM USD 24,955 0.011,693 Starwood Property Trust USD 33,233 0.024,391 State Street USD 345,488 0.191,581 Steel Dynamics USD 49,649 0.031,272 Steven Madden USD 44,569 0.021,113 Stifel Financial USD 44,883 0.022,653 SunCoke Energy USD 25,350 0.01

278 SVB Financial Group USD 42,897 0.02639 Sykes Enterprises USD 18,782 0.01


2,347 Tailored Brands USD 22,965 0.01729 TEGNA USD 9,208 0.00

1,406 TeleTech Holdings USD 50,286 0.03250 Tempur Sealy International USD 11,723 0.01

1,165 Teradyne USD 30,681 0.0210,327 Terex USD 339,536 0.19

545 Tesoro USD 44,738 0.02811 Tetra Tech USD 32,523 0.02

2,715 Time Warner USD 239,001 0.13186 Torchmark USD 12,485 0.01463 Tutor Perini USD 11,669 0.01

6,792 Two Harbors Investment USD 59,013 0.03898 United Parcel Service – B – USD 87,057 0.05528 Universal USD 29,943 0.02

1,554 Valvoline USD 32,310 0.02104 Varex Imaging USD 3,097 0.00

2,299 Varian Medical Systems USD 208,012 0.113,277 Visa – A – USD 269,464 0.156,612 Walgreens Boots Alliance USD 453,946 0.251,526 Walker & Dunlop USD 65,340 0.04

848 WESCO International USD 42,609 0.025,595 Western Digital USD 434,649 0.242,179 WestRock USD 108,270 0.061,714 WildHorse Resource Development USD 18,585 0.012,693 World Fuel Services USD 90,770 0.056,842 Yum China Holdings USD 236,548 0.131,612 Yum! Brands USD 104,246 0.069,080 Zions Bancorporation USD 349,583 0.19

39,380,295 21.71


223






Currency Market

Value

% of

Net

Assets

SHARES EUR %Vietnam

8,316 Taisun International Holding TWD 32,957 0.0240,330 Vietnam Dairy Products VND 245,160 0.13

104,812 Vinh Hoan VND 238,523 0.13






Currency Market

Value

% of

Net

Assets




INVESTMENTS 176,445,245 97.27



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets0 EURO STOXX 50 Index Future 09/17 EUR 5,675 (178) (0.00)0 FTSE 100 Index Future 09/17 GBP 4,547 (107) (0.00)

19 Mini MSCI Emerging Markets Future 09/17 USD 836,811 (5,464) (0.00)0 Swiss Market Index Future 09/17 CHF 2,243 (6) (0.00)


DERIVATIVES (5,755) 0.00





224


AAMMF Verzekeringen Beleggingsfonds ZeerDefensief 30-06-2017






Date

Market

Value

% of

Net

Assets

BONDS EUR %Australia

6,575 BHP Billiton Finance EUR 3.000% 29/05/24 7,518 0.096,575 Telstra EUR 3.500% 21/09/22 7,535 0.096,575 Wesfarmers EUR 1.250% 07/10/21 6,832 0.08

21,885 0.26Austria

7,890 Austria Government Bond EUR 1.950% 18/06/19 8,266 0.101,644 Austria Government Bond EUR 3.500% 15/09/21 1,902 0.029,041 Austria Government Bond EUR 3.400% 22/11/22 10,704 0.134,931 Austria Government Bond EUR 1.750% 20/10/23 5,436 0.06

16,438 Austria Government Bond EUR 1.650% 21/10/24 18,025 0.229,452 Austria Government Bond EUR 0.750% 20/10/26 9,554 0.112,794 OeBB-Infrastruktur EUR 3.500% 19/10/20 3,134 0.044,931 OeBB-Infrastruktur EUR 4.875% 27/06/22 6,101 0.074,044 OMV EUR 4.250% 12/10/21 4,707 0.063,287 OMV EUR 2.625% 27/09/22 3,622 0.041,644 OMV EUR 6.250% 29/12/49 1,911 0.02

73,362 0.87Belgium

8,219 AG Insurance EUR 3.500% 30/06/47 8,650 0.1021,862 Anheuser-Busch InBev EUR 1.500% 17/03/25 22,682 0.2718,081 Belgium Government Bond EUR 4.000% 28/03/18 18,692 0.2213,561 Belgium Government Bond EUR 3.000% 28/09/19 14,626 0.178,219 Belgium Government Bond EUR 3.750% 28/09/20 9,323 0.118,219 Belgium Government Bond EUR 4.250% 28/09/21 9,787 0.125,424 Belgium Government Bond EUR 2.250% 22/06/23 6,126 0.074,931 Belgium Government Bond EUR 2.600% 22/06/24 5,722 0.073,205 Belgium Government Bond EUR 0.800% 22/06/25 3,286 0.045,342 Belgium Government Bond EUR 1.000% 22/06/26 5,515 0.071,644 Brussels Airport EUR 1.000% 03/05/24 1,642 0.023,288 Flemish Community EUR 1.341% 12/06/25 3,446 0.048,219 KBC Group EUR 1.875% 11/03/27 8,374 0.101,644 RESA EUR 1.000% 22/07/26 1,601 0.023,287 Solvay EUR 1.625% 02/12/22 3,433 0.04

122,905 1.46Canada

4,931 Bank of Nova Scotia EUR 0.375% 06/04/22 4,892 0.062,466 Magna International EUR 1.900% 24/11/23 2,609 0.034,931 Toronto-Dominion Bank EUR 0.625% 08/03/21 4,998 0.062,466 Toronto-Dominion Bank EUR 0.375% 27/04/23 2,460 0.03


1,643 Hutchison Whampoa EuropeFinance 13 EUR 3.750% 29/05/49 1,684 0.02

1,644 Hutchison Whampoa Finance14 EUR 1.375% 31/10/21 1,693 0.02


2,466 CEZ EUR 4.875% 16/04/25 3,105 0.04

3,105 0.04Denmark

6,575 Danske Bank EUR 0.500% 06/05/21 6,627 0.084,931 Danske Bank EUR 3.875% 04/10/23 5,147 0.061,644 ISS Global EUR 1.125% 07/01/21 1,680 0.02

13,454 0.16Finland

5,013 Finland Government Bond EUR 4.375% 04/07/19 5,511 0.076,575 Finland Government Bond EUR 3.500% 15/04/21 7,524 0.093,370 Finland Government Bond EUR 2.000% 15/04/24 3,777 0.042,466 Finland Government Bond EUR 0.875% 15/09/25 2,556 0.032,466 Finland Government Bond EUR 0.500% 15/04/26 2,465 0.033,287 Finnvera EUR 0.625% 19/11/21 3,382 0.041,644 Nokia EUR 2.000% 15/03/24 1,674 0.02

26,889 0.32France

6,575 Air Liquide Finance EUR 0.750% 13/06/24 6,604 0.086,575 APRR EUR 1.875% 15/01/25 6,982 0.08


6,575 AXA EUR 3.875% 20/05/49 7,159 0.093,287 Banque Federative du Credit

Mutuel EUR 1.250% 26/05/27 3,268 0.044,931 BNP Paribas EUR 0.750% 11/11/22 4,983 0.068,219 BNP Paribas EUR 1.125% 15/01/23 8,450 0.10








Date

Market

Value

% of

Net

Assets


8,219 BNP Paribas EUR 2.875% 20/03/26 8,722 0.106,575 BNP Paribas EUR 2.625% 14/10/27 6,951 0.088,219 Bouygues EUR 3.625% 16/01/23 9,524 0.111,644 BPCE EUR 0.625% 20/04/20 1,667 0.028,219 BPCE EUR 2.750% 08/07/26 8,654 0.108,219 BPCE EUR 2.750% 30/11/27 8,705 0.106,575 Capgemini EUR 2.500% 01/07/23 7,135 0.099,041 Carrefour EUR 3.875% 25/04/21 10,267 0.128,219 Credit Agricole EUR 1.250% 14/04/26 8,287 0.10

13,150 Credit Agricole EUR 1.875% 20/12/26 13,431 0.163,287 Credit Mutuel Arkea EUR 1.250% 31/05/24 3,268 0.047,397 Electricite de France EUR 4.625% 11/09/24 9,242 0.119,863 Engie EUR 0.875% 27/03/24 9,915 0.12

31,231 France Government Bond OAT EUR 4.000% 25/04/18 32,397 0.3916,438 France Government Bond OAT EUR 1.000% 25/05/18 16,670 0.2016,438 France Government Bond OAT EUR 1.000% 25/11/18 16,793 0.2032,875 France Government Bond OAT EUR 0.500% 25/11/19 33,621 0.4024,656 France Government Bond OAT EUR 0.250% 25/11/20 25,122 0.3031,231 France Government Bond OAT EUR 0.000% 25/05/21 31,510 0.3832,875 France Government Bond OAT EUR 2.250% 25/10/22 36,793 0.4429,588 France Government Bond OAT EUR 1.750% 25/05/23 32,461 0.3915,944 France Government Bond OAT EUR 1.750% 25/11/24 17,551 0.2128,766 France Government Bond OAT EUR 0.500% 25/05/25 28,835 0.3425,807 France Government Bond OAT EUR 1.000% 25/11/25 26,745 0.328,219 France Government Bond OAT EUR 0.500% 25/05/26 8,107 0.106,575 HSBC France EUR 0.625% 03/12/20 6,665 0.089,863 Klepierre EUR 1.750% 06/11/24 10,403 0.124,931 Orange EUR 3.000% 15/06/22 5,528 0.073,287 Orange EUR 2.500% 01/03/23 3,623 0.046,575 Orange EUR 1.000% 12/05/25 6,586 0.081,644 Pernod Ricard EUR 2.125% 27/09/24 1,770 0.023,287 Publicis Groupe EUR 1.625% 16/12/24 3,421 0.042,466 RCI Banque EUR 1.375% 17/11/20 2,558 0.032,466 RCI Banque EUR 2.250% 29/03/21 2,630 0.033,287 Sanofi EUR 1.750% 10/09/26 3,503 0.041,644 Schneider Electric EUR 2.500% 06/09/21 1,793 0.026,575 Societe Generale EUR 0.750% 26/05/23 6,622 0.081,644 TOTAL EUR 2.250% 29/12/49 1,667 0.026,575 TOTAL EUR 2.625% 29/12/49 6,520 0.088,219 Total Capital International EUR 1.375% 19/03/25 8,532 0.109,862 Unibail-Rodamco EUR 2.500% 26/02/24 10,952 0.136,575 Valeo EUR 3.250% 22/01/24 7,590 0.098,219 Veolia Environnement EUR 4.247% 06/01/21 9,343 0.114,931 Veolia Environnement EUR 4.450% 29/01/49 5,083 0.061,644 Vivendi EUR 0.750% 26/05/21 1,662 0.02

574,735 6.85Germany

1,644 Bertelsmann EUR 3.000% 23/04/75 1,708 0.026,575 Bundesobligation EUR 0.000% 08/10/21 6,660 0.08

16,438 Bundesrepublik Deutschland EUR 3.250% 04/01/20 18,020 0.2232,875 Bundesrepublik Deutschland EUR 1.500% 04/09/22 35,742 0.4330,410 Bundesrepublik Deutschland EUR 1.500% 15/05/23 33,225 0.4018,081 Bundesrepublik Deutschland EUR 1.750% 15/02/24 20,163 0.2418,081 Bundesrepublik Deutschland EUR 0.500% 15/02/25 18,539 0.2222,191 Bundesrepublik Deutschland EUR 0.500% 15/02/26 22,548 0.2739,450 Bundesschatzanweisungen EUR 0.000% 15/12/17 39,574 0.4739,450 Bundesschatzanweisungen EUR 0.000% 16/03/18 39,632 0.473,994 Continental EUR 3.125% 09/09/20 4,361 0.053,288 Daimler EUR 2.250% 24/01/22 3,573 0.046,575 Daimler EUR 2.375% 12/09/22 7,215 0.097,397 Daimler EUR 1.875% 08/07/24 7,980 0.10

13,150 Deutsche Boerse EUR 2.750% 05/02/41 13,951 0.172,416 Deutsche Post EUR 2.875% 11/12/24 2,782 0.036,575 EnBW Energie

Baden-Wuerttemberg EUR 3.625% 02/04/76 6,944 0.084,109 Eurogrid EUR 3.875% 22/10/20 4,587 0.056,575 Eurogrid EUR 1.625% 03/11/23 6,889 0.086,575 Eurogrid EUR 1.875% 10/06/25 6,979 0.083,945 Evonik Industries EUR 1.000% 23/01/23 4,029 0.055,425 Linde EUR 2.000% 18/04/23 5,908 0.076,575 Merck EUR 2.625% 12/12/74 6,921 0.08

822 State of Lower Saxony EUR 1.625% 23/07/21 880 0.01

318,810 3.80


225








Date

Market

Value

% of

Net

Assets

BONDS EUR %Guernsey

13,150 Credit Suisse Group FundingGuernsey EUR 1.250% 14/04/22 13,435 0.16

13,435 0.16Ireland

8,219 Aquarius & Investments forZurich Insurance EUR 4.250% 02/10/43 9,454 0.11

1,644 Bank of Ireland EUR 1.250% 09/04/20 1,690 0.026,575 CRH Finance DAC EUR 3.125% 03/04/23 7,429 0.092,466 FCA Bank Ireland EUR 1.250% 21/01/21 2,513 0.034,931 Fresenius Finance Ireland EUR 0.875% 31/01/22 4,940 0.062,466 Fresenius Finance Ireland EUR 1.500% 30/01/24 2,495 0.03

12,081 Ireland Government Bond EUR 5.900% 18/10/19 13,817 0.168,219 Ireland Government Bond EUR 3.400% 18/03/24 9,845 0.129,698 Ireland Government Bond EUR 1.000% 15/05/26 9,808 0.123,287 Johnson Controls International EUR 1.000% 15/09/23 3,250 0.041,644 Kerry Group Financial

Services EUR 2.375% 10/09/25 1,785 0.027,397 Ryanair DAC EUR 1.125% 15/08/23 7,437 0.09

74,463 0.89Italy

6,575 Assicurazioni Generali EUR 5.500% 27/10/47 7,339 0.096,575 Autostrade per l’Italia EUR 4.375% 16/03/20 7,335 0.094,931 Autostrade per l’Italia EUR 5.875% 09/06/24 6,553 0.084,931 Eni EUR 4.250% 03/02/20 5,448 0.073,287 Eni EUR 2.625% 22/11/21 3,599 0.044,931 Intesa Sanpaolo EUR 1.125% 14/01/20 5,044 0.069,863 Intesa Sanpaolo EUR 2.000% 18/06/21 10,406 0.123,288 Intesa Sanpaolo EUR 0.875% 27/06/22 3,293 0.04












1,644 Terna Rete Elettrica Nazionale EUR 1.000% 11/10/28 1,552 0.023,419 UniCredit EUR 2.000% 04/03/23 3,596 0.04

366,553 4.37Jersey

822 Delphi Automotive EUR 1.500% 10/03/25 819 0.01

819 0.01Latvia

2,466 Latvia GovernmentInternational Bond EUR 2.625% 21/01/21 2,707 0.03

2,707 0.03Lithuania

6,000 Lithuania GovernmentInternational Bond EUR 4.850% 07/02/18 6,182 0.07


6,575 Holcim Finance Luxembourg EUR 1.375% 26/05/23 6,716 0.081,644 Novartis Finance EUR 1.625% 09/11/26 1,746 0.02

8,462 0.10Mexico

4,109 America Movil EUR 4.750% 28/06/22 4,905 0.061,644 Petroleos Mexicanos EUR 3.125% 27/11/20 1,734 0.021,644 Petroleos Mexicanos EUR 2.750% 21/04/27 1,483 0.02

8,122 0.10








Date

Market

Value

% of

Net

Assets


6,575 ABN AMRO Bank EUR 1.000% 16/04/25 6,653 0.086,575 ABN AMRO Bank EUR 2.875% 30/06/25 6,945 0.084,931 Adecco International Financial

Services EUR 1.000% 02/12/24 4,908 0.066,575 Akzo Nobel EUR 1.750% 07/11/24 6,896 0.086,575 Alliander EUR 3.250% 29/11/49 6,833 0.086,575 Allianz Finance II EUR 5.750% 08/07/41 7,759 0.096,575 ASR Nederland EUR 5.125% 29/09/45 7,424 0.099,863 ASR Nederland EUR 5.000% 30/09/49 10,813 0.132,318 Bayer Capital EUR 1.250% 13/11/23 2,427 0.03

13,150 BMW Finance EUR 2.375% 24/01/23 14,512 0.176,575 BMW Finance EUR 1.000% 21/01/25 6,658 0.083,288 Coca-Cola HBC Finance EUR 2.375% 18/06/20 3,479 0.041,644 Deutsche Telekom

International Finance EUR 1.125% 22/05/26 1,620 0.022,466 EDP Finance EUR 1.875% 29/09/23 2,538 0.03

13,150 EnBW International Finance EUR 4.875% 16/01/25 17,066 0.208,219 Enel Finance International EUR 1.375% 01/06/26 8,197 0.103,287 Gas Natural Fenosa Finance EUR 2.875% 11/03/24 3,693 0.043,287 Heineken EUR 2.125% 04/08/20 3,482 0.042,433 Heineken EUR 3.500% 19/03/24 2,847 0.031,644 Hella Finance International EUR 1.000% 17/05/24 1,633 0.021,644 Iberdrola International EUR 3.500% 01/02/21 1,833 0.026,575 Iberdrola International EUR 1.125% 27/01/23 6,744 0.084,931 ING Bank EUR 3.625% 25/02/26 5,396 0.07

11,506 ING Groep EUR 2.500% 15/02/29 12,011 0.143,287 JAB Holdings EUR 1.750% 25/05/23 3,436 0.046,575 LeasePlan EUR 1.000% 08/04/20 6,687 0.086,575 LeasePlan EUR 1.000% 24/05/21 6,666 0.088,219 Netherlands Government Bond EUR 4.000% 15/07/18 8,614 0.10

24,656 Netherlands Government Bond EUR 0.000% 15/01/22 24,869 0.3014,054 Netherlands Government Bond EUR 3.750% 15/01/23 17,025 0.2017,259 Netherlands Government Bond EUR 0.250% 15/07/25 17,125 0.2111,342 Netherlands Government Bond EUR 0.500% 15/07/26 11,346 0.141,644 Repsol International Finance EUR 3.875% 29/12/49 1,717 0.026,575 Shell International Finance EUR 0.375% 15/02/25 6,335 0.081,644 Telefonica Europe EUR 3.750% 31/12/49 1,717 0.026,575 TenneT Holding EUR 1.000% 13/06/26 6,524 0.084,931 TenneT Holding EUR 2.995% 31/12/99 5,063 0.063,288 Vonovia Finance EUR 0.750% 25/01/22 3,303 0.049,863 Vonovia Finance EUR 0.875% 10/06/22 9,950 0.121,644 Vonovia Finance EUR 1.750% 25/01/27 1,665 0.02

284,409 3.39New Zealand

3,287 Auckland Council EUR 1.000% 19/01/27 3,257 0.04

3,257 0.04Norway

3,288 Statkraft EUR 1.500% 26/03/30 3,226 0.046,575 Statoil EUR 5.625% 11/03/21 7,875 0.09

11,101 0.13Portugal

14,794 Brisa Concessao Rodoviaria EUR 2.000% 22/03/23 15,471 0.18

15,471 0.18Slovakia

6,164 Slovakia Government Bond EUR 4.000% 27/04/20 6,940 0.083,288 Slovakia Government Bond EUR 3.000% 28/02/23 3,862 0.05

10,802 0.13Spain

6,575 Abertis Infraestructuras EUR 1.375% 20/05/26 6,524 0.089,863 BBVA Subordinated Capital EUR 3.500% 11/04/24 10,370 0.123,288 Enagas Financiaciones EUR 2.500% 11/04/22 3,617 0.04

11,506 Santander International Debt EUR 1.375% 14/12/22 11,982 0.1427,944 Spain Government Bond EUR 0.500% 31/10/17 28,034 0.3327,944 Spain Government Bond EUR 4.500% 31/01/18 28,733 0.3424,656 Spain Government Bond EUR 4.300% 31/10/19 27,252 0.3315,205 Spain Government Bond EUR 4.000% 30/04/20 16,988 0.2019,725 Spain Government Bond EUR 5.850% 31/01/22 24,797 0.3011,506 Spain Government Bond EUR 4.400% 31/10/23 14,139 0.1715,945 Spain Government Bond EUR 4.800% 31/01/24 20,055 0.2419,725 Spain Government Bond EUR 4.650% 30/07/25 25,004 0.3021,615 Spain Government Bond EUR 2.150% 31/10/25 23,138 0.281,315 Spain Government Bond EUR 1.950% 30/04/26 1,383 0.02


226








Date

Market

Value

% of

Net

Assets




1,644 African Development Bank EUR 0.250% 24/01/24 1,631 0.025,260 EUROFIMA EUR 4.000% 27/10/21 6,139 0.08

10,355 EUROFIMA EUR 0.250% 25/04/23 10,279 0.12

18,049 0.22Sweden

3,287 Essity EUR 1.125% 27/03/24 3,298 0.041,644 Essity EUR 1.125% 05/03/25 1,626 0.021,643 Molnlycke Holding EUR 1.500% 28/02/22 1,697 0.028,219 Nordea Bank EUR 1.875% 10/11/25 8,527 0.106,575 Nordea Bank EUR 1.000% 07/09/26 6,573 0.08

14,794 Skandinaviska EnskildaBanken EUR 2.500% 28/05/26 15,613 0.19

14,794 Svenska Handelsbanken EUR 2.656% 15/01/24 15,304 0.18


6,575 Credit Suisse EUR 1.375% 29/11/19 6,780 0.084,931 UBS Group Funding


Switzerland EUR 1.250% 01/09/26 6,496 0.08


6,575 BAT International Finance EUR 3.625% 09/11/21 7,419 0.093,287 BAT International Finance EUR 0.875% 13/10/23 3,239 0.041,644 BP Capital Markets EUR 4.154% 01/06/20 1,833 0.023,287 BP Capital Markets EUR 1.373% 03/03/22 3,417 0.043,287 BP Capital Markets EUR 0.830% 19/09/24 3,239 0.046,575 British Telecommunications EUR 1.125% 10/03/23 6,661 0.081,644 Compass Group EUR 1.875% 27/01/23 1,753 0.022,465 FCE Bank EUR 1.875% 24/06/21 2,578 0.034,109 FCE Bank EUR 1.134% 10/02/22 4,150 0.052,466 FCE Bank EUR 1.615% 11/05/23 2,512 0.032,055 GlaxoSmithKline Capital EUR 4.000% 16/06/25 2,530 0.03

12,690 HBOS EUR 4.500% 18/03/30 14,777 0.186,575 HSBC Holdings EUR 1.500% 15/03/22 6,853 0.086,575 Imperial Brands Finance EUR 3.375% 26/02/26 7,519 0.091,644 Mondi Finance EUR 3.375% 28/09/20 1,803 0.026,575 National Grid EUR 4.375% 10/03/20 7,311 0.09

14,794 Nationwide Building Society EUR 4.125% 20/03/23 15,187 0.181,644 Rentokil Initial EUR 3.375% 24/09/19 1,761 0.021,644 Rentokil Initial EUR 3.250% 07/10/21 1,818 0.027,397 United Utilities Water EUR 4.250% 24/01/20 8,152 0.108,219 Vodafone Group EUR 1.250% 25/08/21 8,468 0.10


3,287 3M EUR 1.500% 02/06/31 3,340 0.044,931 AbbVie EUR 1.375% 17/05/24 4,980 0.066,575 Amgen EUR 1.250% 25/02/22 6,783 0.082,466 Apple EUR 1.000% 10/11/22 2,535 0.031,644 Apple EUR 1.625% 10/11/26 1,713 0.026,575 AT&T EUR 2.650% 17/12/21 7,118 0.091,644 AT&T EUR 1.300% 05/09/23 1,659 0.028,219 AT&T EUR 3.500% 17/12/25 9,375 0.11

11,506 Bank of America EUR 1.379% 07/02/25 11,566 0.144,109 Citigroup EUR 1.071% 10/02/19 4,125 0.053,287 Coca-Cola European Partners

US EUR 2.750% 06/05/26 3,684 0.056,575 Eli Lilly & Co EUR 1.000% 02/06/22 6,744 0.081,644 General Electric EUR 0.875% 17/05/25 1,623 0.022,466 General Mills EUR 2.100% 16/11/20 2,601 0.03

822 General Motors Financial EUR 0.955% 07/09/23 796 0.019,862 Goldman Sachs Group EUR 3.250% 01/02/23 11,075 0.138,219 Goldman Sachs Group EUR 1.375% 15/05/24 8,292 0.108,219 International Business

Machines EUR 0.500% 07/09/21 8,279 0.109,862 JPMorgan Chase & Co EUR 1.375% 16/09/21 10,239 0.127,397 Metropolitan Life Global


Funding I EUR 0.875% 20/01/22 7,528 0.09








Date

Market

Value

% of

Net

Assets


14,794 Morgan Stanley EUR 1.875% 30/03/23 15,504 0.198,219 Pfizer EUR 5.750% 03/06/21 9,974 0.122,465 Philip Morris International EUR 2.875% 30/05/24 2,782 0.032,466 Philip Morris International EUR 2.750% 19/03/25 2,768 0.032,466 Praxair EUR 1.200% 12/02/24 2,535 0.036,575 Priceline Group EUR 2.375% 23/09/24 6,988 0.085,753 Procter & Gamble EUR 4.875% 11/05/27 7,728 0.091,644 Thermo Fisher Scientific EUR 0.750% 12/09/24 1,579 0.026,575 Toyota Motor Credit EUR 1.000% 09/03/21 6,759 0.081,644 Verizon Communications EUR 2.375% 17/02/22 1,764 0.021,644 Verizon Communications EUR 1.625% 01/03/24 1,683 0.026,575 Wells Fargo & Co EUR 1.125% 29/10/21 6,767 0.088,219 Wells Fargo & Co EUR 1.500% 12/09/22 8,551 0.10

197,086 2.35


227






Currency Market

Value

% of

Net

Assets


13 Allianz Securicash SRI EUR 1,621,101 19.32510 Aviva Monetaire – I – EUR 527,355 6.29116 Natixis Asset Management Natixis




5,100 Lyxor BofAML $ High Yield Bond UCITSETF USD 500,404 5.96




AAMMF Verzekeringen Beleggingsfonds Zeer Defensief 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(4) 5-Years US Note Future 09/17 USD (460,226) 1,427 0.02(2) Bundesrepublik Deutschland Future BOBL 09/17 EUR (272,769) 2,610 0.030 Bundesrepublik Deutschland Future BUND 09/17 EUR 21,286 (316) (0.00)0 Bundesrepublik Deutschland Future SCHATZ 09/17 EUR 16,547 (43) (0.00)







228


AAMMF Verzekeringen BeleggingsfondsDefensief 30-06-2017






Date

Market

Value

% of

Net

Assets



63,949 0.19Austria

23,055 Austria Government Bond EUR 1.950% 18/06/19 24,155 0.074,803 Austria Government Bond EUR 3.500% 15/09/21 5,556 0.02

26,418 Austria Government Bond EUR 3.400% 22/11/22 31,278 0.1014,410 Austria Government Bond EUR 1.750% 20/10/23 15,884 0.0548,032 Austria Government Bond EUR 1.650% 21/10/24 52,671 0.1627,619 Austria Government Bond EUR 0.750% 20/10/26 27,918 0.088,165 OeBB-Infrastruktur EUR 3.500% 19/10/20 9,157 0.03

14,410 OeBB-Infrastruktur EUR 4.875% 27/06/22 17,829 0.0511,816 OMV EUR 4.250% 12/10/21 13,754 0.049,606 OMV EUR 2.625% 27/09/22 10,584 0.034,803 OMV EUR 6.250% 29/12/49 5,584 0.02

214,370 0.65Belgium

24,016 AG Insurance EUR 3.500% 30/06/47 25,277 0.0863,883 Anheuser-Busch InBev EUR 1.500% 17/03/25 66,278 0.2052,835 Belgium Government Bond EUR 4.000% 28/03/18 54,619 0.1639,627 Belgium Government Bond EUR 3.000% 28/09/19 42,738 0.1324,016 Belgium Government Bond EUR 3.750% 28/09/20 27,244 0.0824,016 Belgium Government Bond EUR 4.250% 28/09/21 28,597 0.0915,851 Belgium Government Bond EUR 2.250% 22/06/23 17,902 0.0514,410 Belgium Government Bond EUR 2.600% 22/06/24 16,721 0.059,366 Belgium Government Bond EUR 0.800% 22/06/25 9,603 0.03

15,611 Belgium Government Bond EUR 1.000% 22/06/26 16,115 0.054,803 Brussels Airport EUR 1.000% 03/05/24 4,798 0.029,606 Flemish Community EUR 1.341% 12/06/25 10,070 0.03

24,016 KBC Group EUR 1.875% 11/03/27 24,468 0.074,803 RESA EUR 1.000% 22/07/26 4,677 0.019,606 Solvay EUR 1.625% 02/12/22 10,032 0.03

359,139 1.08Canada

14,409 Bank of Nova Scotia EUR 0.375% 06/04/22 14,295 0.047,205 Magna International EUR 1.900% 24/11/23 7,623 0.02

14,410 Toronto-Dominion Bank EUR 0.625% 08/03/21 14,604 0.057,205 Toronto-Dominion Bank EUR 0.375% 27/04/23 7,189 0.02





7,205 CEZ EUR 4.875% 16/04/25 9,074 0.03

9,074 0.03Denmark


39,313 0.12Finland


78,573 0.24France

19,213 Air Liquide Finance EUR 0.750% 13/06/24 19,297 0.0619,213 APRR EUR 1.875% 15/01/25 20,402 0.0648,032 Autoroutes du Sud de la

France EUR 2.875% 18/01/23 53,957 0.1619,213 AXA EUR 3.875% 20/05/49 20,918 0.069,607 Banque Federative du Credit









Date

Market

Value

% of

Net

Assets


24,016 BNP Paribas EUR 2.875% 20/03/26 25,485 0.0819,213 BNP Paribas EUR 2.625% 14/10/27 20,312 0.0624,016 Bouygues EUR 3.625% 16/01/23 27,830 0.084,803 BPCE EUR 0.625% 20/04/20 4,872 0.01

24,016 BPCE EUR 2.750% 08/07/26 25,288 0.0824,016 BPCE EUR 2.750% 30/11/27 25,438 0.0819,213 Capgemini EUR 2.500% 01/07/23 20,849 0.0626,418 Carrefour EUR 3.875% 25/04/21 30,001 0.0924,016 Credit Agricole EUR 1.250% 14/04/26 24,214 0.0738,426 Credit Agricole EUR 1.875% 20/12/26 39,248 0.129,607 Credit Mutuel Arkea EUR 1.250% 31/05/24 9,550 0.03

21,615 Electricite de France EUR 4.625% 11/09/24 27,006 0.0828,819 Engie EUR 0.875% 27/03/24 28,972 0.0991,261 France Government Bond OAT EUR 4.000% 25/04/18 94,666 0.2848,032 France Government Bond OAT EUR 1.000% 25/05/18 48,711 0.1548,032 France Government Bond OAT EUR 1.000% 25/11/18 49,070 0.1596,064 France Government Bond OAT EUR 0.500% 25/11/19 98,243 0.3072,048 France Government Bond OAT EUR 0.250% 25/11/20 73,409 0.2291,261 France Government Bond OAT EUR 0.000% 25/05/21 92,075 0.2896,064 France Government Bond OAT EUR 2.250% 25/10/22 107,513 0.3286,458 France Government Bond OAT EUR 1.750% 25/05/23 94,855 0.2946,591 France Government Bond OAT EUR 1.750% 25/11/24 51,287 0.1584,056 France Government Bond OAT EUR 0.500% 25/05/25 84,259 0.2575,411 France Government Bond OAT EUR 1.000% 25/11/25 78,152 0.2424,016 France Government Bond OAT EUR 0.500% 25/05/26 23,691 0.0719,213 HSBC France EUR 0.625% 03/12/20 19,476 0.0628,819 Klepierre EUR 1.750% 06/11/24 30,397 0.0914,410 Orange EUR 3.000% 15/06/22 16,154 0.059,606 Orange EUR 2.500% 01/03/23 10,586 0.03

19,213 Orange EUR 1.000% 12/05/25 19,245 0.064,803 Pernod Ricard EUR 2.125% 27/09/24 5,172 0.029,606 Publicis Groupe EUR 1.625% 16/12/24 9,996 0.037,205 RCI Banque EUR 1.375% 17/11/20 7,473 0.027,205 RCI Banque EUR 2.250% 29/03/21 7,684 0.029,606 Sanofi EUR 1.750% 10/09/26 10,236 0.034,803 Schneider Electric EUR 2.500% 06/09/21 5,240 0.02

19,213 Societe Generale EUR 0.750% 26/05/23 19,349 0.064,803 TOTAL EUR 2.250% 29/12/49 4,870 0.01

19,213 TOTAL EUR 2.625% 29/12/49 19,053 0.0624,016 Total Capital International EUR 1.375% 19/03/25 24,931 0.0828,819 Unibail-Rodamco EUR 2.500% 26/02/24 32,002 0.1019,213 Valeo EUR 3.250% 22/01/24 22,180 0.0724,016 Veolia Environnement EUR 4.247% 06/01/21 27,300 0.0814,410 Veolia Environnement EUR 4.450% 29/01/49 14,854 0.044,803 Vivendi EUR 0.750% 26/05/21 4,858 0.01

1,679,427 5.05Germany

4,803 Bertelsmann EUR 3.000% 23/04/75 4,990 0.0219,213 Bundesobligation EUR 0.000% 08/10/21 19,462 0.0648,032 Bundesrepublik Deutschland EUR 3.250% 04/01/20 52,656 0.1696,064 Bundesrepublik Deutschland EUR 1.500% 04/09/22 104,441 0.3188,860 Bundesrepublik Deutschland EUR 1.500% 15/05/23 97,087 0.2952,835 Bundesrepublik Deutschland EUR 1.750% 15/02/24 58,918 0.1852,835 Bundesrepublik Deutschland EUR 0.500% 15/02/25 54,171 0.1664,843 Bundesrepublik Deutschland EUR 0.500% 15/02/26 65,887 0.20

115,277 Bundesschatzanweisungen EUR 0.000% 15/12/17 115,639 0.35115,277 Bundesschatzanweisungen EUR 0.000% 16/03/18 115,808 0.3511,672 Continental EUR 3.125% 09/09/20 12,744 0.049,606 Daimler EUR 2.250% 24/01/22 10,440 0.03

19,213 Daimler EUR 2.375% 12/09/22 21,084 0.0621,614 Daimler EUR 1.875% 08/07/24 23,319 0.0738,426 Deutsche Boerse EUR 2.750% 05/02/41 40,766 0.127,061 Deutsche Post EUR 2.875% 11/12/24 8,131 0.02


12,008 Eurogrid EUR 3.875% 22/10/20 13,403 0.0419,213 Eurogrid EUR 1.625% 03/11/23 20,129 0.0619,213 Eurogrid EUR 1.875% 10/06/25 20,393 0.0611,528 Evonik Industries EUR 1.000% 23/01/23 11,773 0.0415,851 Linde EUR 2.000% 18/04/23 17,265 0.0519,213 Merck EUR 2.625% 12/12/74 20,223 0.062,402 State of Lower Saxony EUR 1.625% 23/07/21 2,571 0.01

931,593 2.80


229








Date

Market

Value

% of

Net

Assets

BONDS EUR %Guernsey


39,260 0.12Ireland


4,803 Bank of Ireland EUR 1.250% 09/04/20 4,938 0.0119,213 CRH Finance DAC EUR 3.125% 03/04/23 21,707 0.077,205 FCA Bank Ireland EUR 1.250% 21/01/21 7,344 0.02


35,304 Ireland Government Bond EUR 5.900% 18/10/19 40,375 0.1224,016 Ireland Government Bond EUR 3.400% 18/03/24 28,770 0.0928,339 Ireland Government Bond EUR 1.000% 15/05/26 28,659 0.099,606 Johnson Controls International EUR 1.000% 15/09/23 9,498 0.034,803 Kerry Group Financial


217,588 0.66Italy

19,213 Assicurazioni Generali EUR 5.500% 27/10/47 21,445 0.0719,213 Autostrade per l’Italia EUR 4.375% 16/03/20 21,434 0.0614,410 Autostrade per l’Italia EUR 5.875% 09/06/24 19,147 0.0614,410 Eni EUR 4.250% 03/02/20 15,919 0.059,606 Eni EUR 2.625% 22/11/21 10,515 0.03

14,410 Intesa Sanpaolo EUR 1.125% 14/01/20 14,740 0.0428,819 Intesa Sanpaolo EUR 2.000% 18/06/21 30,406 0.099,606 Intesa Sanpaolo EUR 0.875% 27/06/22 9,623 0.03













1,071,102 3.22Jersey

2,402 Delphi Automotive EUR 1.500% 10/03/25 2,392 0.01

2,392 0.01Latvia


7,910 0.02Lithuania




24,727 0.07Mexico


23,733 0.07








Date

Market

Value

% of

Net

Assets



Services EUR 1.000% 02/12/24 14,343 0.0419,213 Akzo Nobel EUR 1.750% 07/11/24 20,152 0.0619,213 Alliander EUR 3.250% 29/11/49 19,967 0.0619,213 Allianz Finance II EUR 5.750% 08/07/41 22,673 0.0719,213 ASR Nederland EUR 5.125% 29/09/45 21,692 0.0728,819 ASR Nederland EUR 5.000% 30/09/49 31,596 0.096,773 Bayer Capital EUR 1.250% 13/11/23 7,091 0.02



38,426 EnBW International Finance EUR 4.875% 16/01/25 49,870 0.1524,016 Enel Finance International EUR 1.375% 01/06/26 23,952 0.079,606 Gas Natural Fenosa Finance EUR 2.875% 11/03/24 10,791 0.039,606 Heineken EUR 2.125% 04/08/20 10,176 0.037,109 Heineken EUR 3.500% 19/03/24 8,318 0.024,803 Hella Finance International EUR 1.000% 17/05/24 4,770 0.014,803 Iberdrola International EUR 3.500% 01/02/21 5,357 0.02

19,213 Iberdrola International EUR 1.125% 27/01/23 19,708 0.0614,410 ING Bank EUR 3.625% 25/02/26 15,768 0.0533,623 ING Groep EUR 2.500% 15/02/29 35,096 0.119,606 JAB Holdings EUR 1.750% 25/05/23 10,040 0.03

19,213 LeasePlan EUR 1.000% 08/04/20 19,540 0.0619,213 LeasePlan EUR 1.000% 24/05/21 19,480 0.0624,016 Netherlands Government Bond EUR 4.000% 15/07/18 25,171 0.0872,048 Netherlands Government Bond EUR 0.000% 15/01/22 72,668 0.2241,067 Netherlands Government Bond EUR 3.750% 15/01/23 49,749 0.1550,434 Netherlands Government Bond EUR 0.250% 15/07/25 50,040 0.1533,142 Netherlands Government Bond EUR 0.500% 15/07/26 33,152 0.104,803 Repsol International Finance EUR 3.875% 29/12/49 5,017 0.02

19,213 Shell International Finance EUR 0.375% 15/02/25 18,513 0.064,803 Telefonica Europe EUR 3.750% 31/12/49 5,016 0.01

19,213 TenneT Holding EUR 1.000% 13/06/26 19,063 0.0614,410 TenneT Holding EUR 2.995% 31/12/99 14,793 0.049,606 Vonovia Finance EUR 0.750% 25/01/22 9,653 0.03

28,819 Vonovia Finance EUR 0.875% 10/06/22 29,076 0.094,803 Vonovia Finance EUR 1.750% 25/01/27 4,866 0.01

831,069 2.50New Zealand


9,519 0.03Norway


32,439 0.10Portugal


45,206 0.14Slovakia


31,564 0.10Spain

19,213 Abertis Infraestructuras EUR 1.375% 20/05/26 19,063 0.0628,819 BBVA Subordinated Capital EUR 3.500% 11/04/24 30,303 0.099,606 Enagas Financiaciones EUR 2.500% 11/04/22 10,570 0.03



230








Date

Market

Value

% of

Net

Assets




4,803 African Development Bank EUR 0.250% 24/01/24 4,767 0.0215,371 EUROFIMA EUR 4.000% 27/10/21 17,938 0.0530,260 EUROFIMA EUR 0.250% 25/04/23 30,037 0.09

52,742 0.16Sweden

9,607 Essity EUR 1.125% 27/03/24 9,638 0.034,803 Essity EUR 1.125% 05/03/25 4,751 0.014,803 Molnlycke Holding EUR 1.500% 28/02/22 4,958 0.01

24,016 Nordea Bank EUR 1.875% 10/11/25 24,915 0.0819,213 Nordea Bank EUR 1.000% 07/09/26 19,206 0.0643,229 Skandinaviska Enskilda

Banken EUR 2.500% 28/05/26 45,623 0.1443,229 Svenska Handelsbanken EUR 2.656% 15/01/24 44,721 0.13




Switzerland EUR 1.250% 01/09/26 18,981 0.06


19,213 BAT International Finance EUR 3.625% 09/11/21 21,679 0.069,607 BAT International Finance EUR 0.875% 13/10/23 9,466 0.034,803 BP Capital Markets EUR 4.154% 01/06/20 5,355 0.029,606 BP Capital Markets EUR 1.373% 03/03/22 9,985 0.039,606 BP Capital Markets EUR 0.830% 19/09/24 9,463 0.03

19,213 British Telecommunications EUR 1.125% 10/03/23 19,464 0.064,803 Compass Group EUR 1.875% 27/01/23 5,123 0.017,205 FCE Bank EUR 1.875% 24/06/21 7,533 0.02

12,008 FCE Bank EUR 1.134% 10/02/22 12,127 0.047,205 FCE Bank EUR 1.615% 11/05/23 7,340 0.026,004 GlaxoSmithKline Capital EUR 4.000% 16/06/25 7,394 0.02

37,081 HBOS EUR 4.500% 18/03/30 43,179 0.1319,213 HSBC Holdings EUR 1.500% 15/03/22 20,024 0.0619,213 Imperial Brands Finance EUR 3.375% 26/02/26 21,971 0.074,803 Mondi Finance EUR 3.375% 28/09/20 5,269 0.02

19,213 National Grid EUR 4.375% 10/03/20 21,363 0.0643,229 Nationwide Building Society EUR 4.125% 20/03/23 44,379 0.134,803 Rentokil Initial EUR 3.375% 24/09/19 5,145 0.024,803 Rentokil Initial EUR 3.250% 07/10/21 5,313 0.02

21,615 United Utilities Water EUR 4.250% 24/01/20 23,820 0.0724,016 Vodafone Group EUR 1.250% 25/08/21 24,744 0.07


9,606 3M EUR 1.500% 02/06/31 9,760 0.0314,410 AbbVie EUR 1.375% 17/05/24 14,553 0.0419,213 Amgen EUR 1.250% 25/02/22 19,819 0.067,205 Apple EUR 1.000% 10/11/22 7,406 0.024,803 Apple EUR 1.625% 10/11/26 5,004 0.02

19,213 AT&T EUR 2.650% 17/12/21 20,801 0.064,803 AT&T EUR 1.300% 05/09/23 4,849 0.01

24,016 AT&T EUR 3.500% 17/12/25 27,394 0.0833,623 Bank of America EUR 1.379% 07/02/25 33,796 0.1012,008 Citigroup EUR 1.071% 10/02/19 12,054 0.049,606 Coca-Cola European Partners

US EUR 2.750% 06/05/26 10,765 0.0319,213 Eli Lilly & Co EUR 1.000% 02/06/22 19,707 0.064,803 General Electric EUR 0.875% 17/05/25 4,743 0.017,205 General Mills EUR 2.100% 16/11/20 7,600 0.022,402 General Motors Financial EUR 0.955% 07/09/23 2,325 0.01

28,819 Goldman Sachs Group EUR 3.250% 01/02/23 32,363 0.1024,016 Goldman Sachs Group EUR 1.375% 15/05/24 24,231 0.0724,016 International Business



Funding I EUR 0.875% 20/01/22 21,998 0.07








Date

Market

Value

% of

Net

Assets


43,229 Morgan Stanley EUR 1.875% 30/03/23 45,305 0.1424,016 Pfizer EUR 5.750% 03/06/21 29,145 0.097,205 Philip Morris International EUR 2.875% 30/05/24 8,129 0.027,205 Philip Morris International EUR 2.750% 19/03/25 8,088 0.027,205 Praxair EUR 1.200% 12/02/24 7,407 0.02

19,213 Priceline Group EUR 2.375% 23/09/24 20,419 0.0616,811 Procter & Gamble EUR 4.875% 11/05/27 22,583 0.074,803 Thermo Fisher Scientific EUR 0.750% 12/09/24 4,614 0.01

19,213 Toyota Motor Credit EUR 1.000% 09/03/21 19,750 0.064,803 Verizon Communications EUR 2.375% 17/02/22 5,155 0.024,803 Verizon Communications EUR 1.625% 01/03/24 4,916 0.02

19,213 Wells Fargo & Co EUR 1.125% 29/10/21 19,773 0.0624,016 Wells Fargo & Co EUR 1.500% 12/09/22 24,987 0.08

575,902 1.73


231






Currency Market

Value

% of

Net

Assets



787 0.00Australia

1,070 BHP Billiton GBP 14,328 0.04961 BWP Trust AUD 1,925 0.01597 Charter Hall Retail REIT AUD 1,633 0.00

3,538 Cromwell Property Group AUD 2,261 0.012,264 Dexus AUD 14,437 0.044,054 Goodman Group AUD 21,459 0.064,056 GPT Group AUD 13,064 0.041,075 Investa Office Fund AUD 3,172 0.018,156 Mirvac Group AUD 11,683 0.03


Group AUD 1,877 0.015,236 Stockland AUD 15,425 0.055,690 Vicinity Centres AUD 9,835 0.034,308 Westfield AUD 23,266 0.07

167,002 0.50Austria


1,855 IMMOFINANZ EUR 3,710 0.0166 OMV EUR 2,997 0.0195 Raiffeisen Bank International EUR 2,100 0.0140 voestalpine EUR 1,638 0.00

22,731 0.07Belgium



135 KBC Group EUR 8,926 0.0361 Proximus EUR 1,859 0.0143 Solvay EUR 5,061 0.0214 Telenet Group Holding EUR 777 0.0076 UCB EUR 4,589 0.0140 Umicore EUR 2,446 0.01

72,782 0.22Bermuda

12 Arch Capital Group USD 1,015 0.012 Axis Capital Holdings USD 95 0.004 Everest Re Group USD 962 0.00



3,075 0.01Brazil

1,937 BR Malls Participacoes BRL 6,124 0.02165 Iguatemi Empresa de Shopping Centers BRL 1,439 0.00210 Multiplan Empreendimentos Imobiliarios BRL 3,635 0.01

11,198 0.03Canada








72,795 0.22






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile


2,305 0.01Denmark



395 Danske Bank DKK 13,313 0.0479 DONG Energy DKK 3,116 0.01

102 DSV DKK 5,477 0.0231 Genmab DKK 5,738 0.0244 H Lundbeck DKK 2,182 0.0163 ISS DKK 2,159 0.01

901 Novo Nordisk – B – DKK 33,776 0.10112 Novozymes – B – DKK 4,303 0.01


16 Tryg DKK 304 0.00119 Vestas Wind Systems DKK 9,596 0.03

77 William Demant Holding DKK 1,742 0.00

109,382 0.33Finland






62,481 0.19France




953 AXA EUR 22,827 0.07575 BNP Paribas EUR 36,237 0.11294 Bollore EUR 1,169 0.00114 Bouygues EUR 4,212 0.01142 Bureau Veritas EUR 2,752 0.01







260 Electricite de France EUR 2,463 0.01851 Engie EUR 11,249 0.03111 Essilor International EUR 12,386 0.04

11 Eurazeo EUR 726 0.00114 Eutelsat Communications EUR 2,554 0.01

86 Fonciere Des Regions EUR 6,988 0.02103 Gecina EUR 14,109 0.04280 Groupe Eurotunnel EUR 2,615 0.01

17 Hermes International EUR 7,241 0.0284 ICADE EUR 6,150 0.0215 Iliad EUR 3,195 0.0119 Imerys EUR 1,466 0.0029 Ingenico Group EUR 2,297 0.0124 Ipsen EUR 2,894 0.0145 JCDecaux EUR 1,286 0.00


232






Currency Market

Value

% of

Net

Assets





14 Remy Cointreau EUR 1,467 0.0093 Renault EUR 7,346 0.02

162 Rexel EUR 2,324 0.01159 Safran EUR 12,760 0.04599 Sanofi EUR 50,217 0.15275 Schneider Electric EUR 18,485 0.06107 SCOR EUR 3,705 0.01







704,899 2.12Germany





477 Daimler EUR 30,248 0.09999 Deutsche Bank EUR 15,506 0.05103 Deutsche Boerse EUR 9,557 0.03115 Deutsche Euroshop EUR 3,961 0.01141 Deutsche Lufthansa EUR 2,820 0.01481 Deutsche Post EUR 15,776 0.05




42 FUCHS PETROLUB – Pref – EUR 1,984 0.0198 GEA Group EUR 3,511 0.0126 Hannover Rueck EUR 2,771 0.0180 HeidelbergCement EUR 6,750 0.0252 Henkel & Co EUR 5,473 0.0297 Henkel & Co – Pref – EUR 11,651 0.0412 HOCHTIEF EUR 1,986 0.0123 HUGO BOSS EUR 1,421 0.00

617 Infineon Technologies EUR 11,399 0.0374 Innogy EUR 2,536 0.01

123 K+S EUR 2,755 0.0155 LANXESS EUR 3,634 0.01

127 LEG Immobilien EUR 10,469 0.0390 Linde EUR 14,881 0.0419 MAN EUR 1,773 0.01






Currency Market

Value

% of

Net

Assets


60 Merck EUR 6,356 0.02114 METRO EUR 3,382 0.01

86 MuenchenerRueckversicherungs-Gesellschaft inMuenchen EUR 15,235 0.05


123 ProSiebenSat.1 Media EUR 4,508 0.01230 RWE EUR 4,012 0.01506 SAP EUR 46,279 0.14


74 Symrise EUR 4,581 0.01280 TAG Immobilien EUR 3,849 0.01222 Telefonica Deutschland Holding EUR 970 0.00197 thyssenkrupp EUR 4,903 0.01283 TUI GBP 3,602 0.01

62 United Internet EUR 2,971 0.0112 Volkswagen EUR 1,646 0.0099 Volkswagen – Pref – EUR 13,259 0.04

1,231 Vonovia EUR 42,793 0.1357 Zalando EUR 2,265 0.01

660,671 1.99Hong Kong

1,529 Hang Lung Group HKD 5,546 0.025,099 Hang Lung Properties HKD 11,166 0.032,543 Henderson Land Development HKD 12,440 0.042,720 Hongkong Land Holdings USD 17,551 0.051,415 Hysan Development HKD 5,921 0.024,904 Link REIT HKD 32,713 0.107,153 Sino Land HKD 10,283 0.032,581 Swire Properties HKD 7,466 0.022,760 Wharf Holdings HKD 20,057 0.061,916 Wheelock & Co HKD 12,676 0.04

135,819 0.41Ireland







51,428 0.16Italy


4,135 Enel EUR 19,410 0.061,293 Eni EUR 17,021 0.05



221 Mediobanca EUR 1,912 0.01280 Poste Italiane EUR 1,678 0.01133 Prysmian EUR 3,414 0.01

67 Recordati EUR 2,384 0.01326 Saipem EUR 1,055 0.00

1,219 Snam EUR 4,652 0.014,979 Telecom Italia EUR 4,023 0.013,518 Telecom Italia – RSP – EUR 2,269 0.01

778 Terna Rete Elettrica Nazionale EUR 3,678 0.011,018 UniCredit EUR 16,639 0.05

769 UnipolSai Assicurazioni EUR 1,470 0.00

122,926 0.37Japan




233






Currency Market

Value

% of

Net

Assets


1,421 Daiwa House Industry JPY 42,555 0.133 Daiwa House REIT Investment JPY 6,852 0.021 Daiwa Office Investment JPY 3,863 0.011 Frontier Real Estate Investment JPY 3,884 0.016 GLP J-REIT JPY 5,578 0.02

1,272 Hulic JPY 11,382 0.032 Hulic REIT JPY 2,892 0.011 Industrial & Infrastructure Fund Investment JPY 2,981 0.018 Invincible Investment JPY 3,060 0.013 Japan Excellent JPY 2,481 0.018 Japan Hotel REIT Investment JPY 5,014 0.012 Japan Logistics Fund JPY 3,905 0.012 Japan Prime Realty Investment JPY 6,091 0.023 Japan Real Estate Investment JPY 12,955 0.044 Japan Rental Housing Investments JPY 2,589 0.016 Japan Retail Fund Investment JPY 9,433 0.031 Kenedix Office Investment JPY 4,499 0.011 Kenedix Retail REIT JPY 1,904 0.013 LaSalle Logiport REIT JPY 2,274 0.01




1,016 Sumitomo Realty & Development JPY 27,476 0.08465 Tokyo Tatemono JPY 5,339 0.02


338,321 1.02Jersey


3,795 0.01Jordan






23,923 0.07Mexico










473 Koninklijke Philips EUR 14,697 0.0430 Koninklijke Vopak EUR 1,226 0.00









Currency Market

Value

% of

Net

Assets




263,602 0.79Norway

524 DNB NOK 7,783 0.02129 Gjensidige Forsikring NOK 1,915 0.00244 Marine Harvest NOK 3,645 0.01726 Norsk Hydro NOK 3,518 0.01342 Orkla NOK 3,038 0.01






12,826 0.04Portugal

1,104 EDP - Energias de Portugal EUR 3,160 0.01262 Galp Energia EUR 3,480 0.01


8,278 0.03Romania


5,593 0.02Singapore

5,532 Ascendas Real Estate Investment Trust SGD 9,194 0.035,919 CapitaLand SGD 13,193 0.044,943 CapitaLand Commercial Trust SGD 5,225 0.026,219 CapitaLand Mall Trust SGD 7,821 0.021,112 City Developments SGD 7,595 0.026,193 Global Logistic Properties SGD 11,279 0.033,069 Mapletree Commercial Trust SGD 3,118 0.015,401 Suntec Real Estate Investment Trust SGD 6,431 0.02




35,593 0.11Spain







98 Enagas EUR 2,405 0.01130 Endesa EUR 2,615 0.01283 Ferrovial EUR 5,490 0.02153 Gamesa Technologica EUR 2,861 0.01148 Gas Natural SDG EUR 3,041 0.01135 Grifols EUR 3,297 0.01

2,956 Iberdrola EUR 20,494 0.06555 Industria de Diseno Textil EUR 18,640 0.06544 Inmobiliaria Colonial EUR 4,148 0.01304 Mapfre EUR 930 0.00693 Merlin Properties Socimi EUR 7,667 0.02208 Red Electrica EUR 3,796 0.01637 Repsol EUR 8,535 0.03


234






Currency Market

Value

% of

Net

Assets



220,418 0.66Sweden


8 Autoliv USD 758 0.00112 Boliden SEK 2,678 0.01548 Castellum SEK 7,042 0.02138 Electrolux – B – SEK 3,967 0.01277 Essity – B – SEK 6,648 0.02299 Fabege SEK 5,038 0.02193 Fastighets Balder – B – SEK 4,091 0.01

56 Getinge – B – SEK 966 0.00509 Hennes & Mauritz – B – SEK 11,100 0.03117 Hexagon – B – SEK 4,861 0.01228 Hufvudstaden – A – SEK 3,305 0.01180 Husqvarna – B – SEK 1,567 0.00

26 ICA Gruppen SEK 837 0.0052 Industrivarden – C – SEK 1,094 0.00


1,518 Nordea Bank SEK 16,918 0.05591 Sandvik SEK 8,144 0.02106 Securitas – B – SEK 1,562 0.00814 Skandinaviska Enskilda Banken – A – SEK 8,621 0.03198 Skanska – B – SEK 4,125 0.01202 SKF – B – SEK 3,586 0.01818 Svenska Handelsbanken – A – SEK 10,258 0.03422 Swedbank – A – SEK 9,014 0.03



833 Volvo – B – SEK 12,430 0.04


1,013 ABB CHF 21,971 0.0787 Adecco Group CHF 5,814 0.0225 Baloise Holding CHF 3,341 0.01

1 Barry Callebaut CHF 677 0.001 Chocoladefabriken Lindt & Spruengli CHF 3,339 0.010 Chocoladefabriken Lindt & Spruengli –

REG – CHF 2,938 0.0135 Chubb USD 4,407 0.01





6,304 Glencore GBP 20,618 0.06111 Julius Baer Group CHF 5,107 0.02

23 Kuehne & Nagel International CHF 3,311 0.01216 LafargeHolcim CHF 10,857 0.03

34 Lonza Group CHF 6,395 0.021,572 Nestle CHF 120,115 0.361,135 Novartis CHF 82,947 0.25




3 SGS CHF 5,882 0.021 Sika CHF 5,578 0.02








Currency Market

Value

% of

Net

Assets












948 British American Tobacco GBP 56,502 0.172,777 British Land GBP 19,151 0.064,536 BT Group GBP 15,228 0.05

196 Bunzl GBP 5,105 0.01235 Burberry Group GBP 4,449 0.01433 Capita GBP 3,410 0.01

1,108 Capital & Counties Properties GBP 3,693 0.012,791 Centrica GBP 6,363 0.02

596 CNH Industrial EUR 5,910 0.021,551 Cobham GBP 2,290 0.01



255 Derwent London GBP 7,710 0.021,288 Diageo GBP 33,281 0.10

710 Direct Line Insurance Group GBP 2,873 0.01572 Dixons Carphone GBP 1,847 0.01104 easyJet GBP 1,609 0.00505 Experian GBP 9,065 0.03461 Fiat Chrysler Automobiles EUR 4,258 0.01831 G4S GBP 3,090 0.01997 GKN GBP 3,700 0.01

2,456 GlaxoSmithKline GBP 45,737 0.14713 Great Portland Estates GBP 4,847 0.01

2,064 Hammerson GBP 13,502 0.04106 Hargreaves Lansdown GBP 1,566 0.00

10,099 HSBC Holdings GBP 81,853 0.2536 IHS Markit USD 1,409 0.00

176 IMI GBP 2,396 0.01493 Imperial Brands GBP 19,356 0.06279 Inmarsat GBP 2,443 0.01


75 Intertek Group GBP 3,591 0.012,075 Intu Properties GBP 6,360 0.022,194 ITV GBP 4,532 0.01

847 J Sainsbury GBP 2,427 0.01101 Johnson Matthey GBP 3,314 0.01171 Kennedy Wilson Europe Real Estate GBP 2,160 0.01961 Kingfisher GBP 3,292 0.01


29 Liberty Global – A – USD 816 0.0043 Liberty Global – C – USD 1,171 0.00



235






Currency Market

Value

% of

Net

Assets







97 Provident Financial GBP 2,686 0.011,274 Prudential GBP 25,544 0.08

338 Reckitt Benckiser Group GBP 29,976 0.09518 RELX (traded in Netherlands) EUR 9,316 0.03579 RELX (traded in United Kingdom) GBP 10,945 0.03629 Rio Tinto GBP 23,229 0.07867 Rolls-Royce Holdings GBP 8,795 0.03








2,555 Tritax Big Box REIT GBP 4,254 0.01653 Unilever GBP 30,878 0.09837 Unilever – CVA – EUR 40,432 0.12503 UNITE Group GBP 3,718 0.01398 United Utilities Group GBP 3,932 0.01

13,534 Vodafone Group GBP 33,562 0.1094 Weir Group GBP 1,850 0.01

108 Whitbread GBP 4,892 0.018 Willis Towers Watson USD 1,063 0.00

1,295 Wm Morrison Supermarkets GBP 3,558 0.01823 Worldpay Group GBP 2,951 0.01686 WPP GBP 12,615 0.04


47 3M USD 8,636 0.03130 Abbott Laboratories USD 5,530 0.02129 AbbVie USD 8,170 0.03190 Acadia Realty Trust USD 4,632 0.01

54 Activision Blizzard USD 2,722 0.013 Acuity Brands USD 619 0.00

39 Adobe Systems USD 4,828 0.027 Advance Auto Parts USD 681 0.00

81 Advanced Micro Devices USD 891 0.0067 AES USD 653 0.0030 Aetna USD 3,966 0.01


5 AGCO USD 270 0.0029 Agilent Technologies USD 1,519 0.0134 AGNC Investment USD 639 0.0073 Agree Realty USD 2,921 0.0117 Air Products & Chemicals USD 2,196 0.0118 Akamai Technologies USD 780 0.0011 Albemarle USD 1,057 0.00









Currency Market

Value

% of

Net

Assets




1 AMERCO USD 190 0.0018 Ameren USD 880 0.0017 American Airlines Group USD 750 0.0078 American Assets Trust USD 2,692 0.01

301 American Campus Communities USD 12,489 0.0440 American Electric Power USD 2,453 0.0159 American Express USD 4,355 0.01


76 American International Group USD 4,190 0.0131 American Tower USD 3,621 0.0114 American Water Works USD 929 0.0012 Ameriprise Financial USD 1,307 0.00

9 AmerisourceBergen USD 760 0.0018 AMETEK USD 967 0.0055 Amgen USD 8,378 0.0328 Amphenol – A – USD 1,798 0.0146 Anadarko Petroleum USD 1,833 0.0129 Analog Devices USD 2,000 0.0152 Annaly Capital Management USD 551 0.00



32 Apache USD 1,353 0.01360 Apartment Investment & Management – A – USD 13,548 0.04404 Apple USD 50,975 0.15495 Apple Hospitality REIT USD 8,114 0.03



18 Arthur J Gallagher & Co USD 903 0.00192 Ashford Hospitality Trust USD 1,022 0.00






781 Bank of America USD 16,609 0.0575 Bank of New York Mellon USD 3,367 0.0133 Baxter International USD 1,727 0.0163 BB&T USD 2,499 0.0118 Becton Dickinson & Co USD 3,041 0.0115 Bed Bath & Beyond USD 411 0.0096 Berkshire Hathaway – B – USD 14,302 0.0429 Best Buy USD 1,453 0.0117 Biogen USD 3,973 0.0117 BioMarin Pharmaceutical USD 1,315 0.00

9 BlackRock USD 3,467 0.0146 Boeing USD 7,949 0.0210 BorgWarner USD 374 0.00





236






Currency Market

Value

% of

Net

Assets


22 Brown-Forman – B – USD 951 0.0014 Bunge USD 931 0.0032 CA USD 961 0.0042 Cabot Oil & Gas USD 920 0.0013 Cadence Design Systems USD 395 0.00

208 Camden Property Trust USD 15,591 0.0520 Campbell Soup USD 934 0.0037 Capital One Financial USD 2,695 0.0125 Cardinal Health USD 1,678 0.01

195 Care Capital Properties USD 4,570 0.01157 CareTrust REIT USD 2,545 0.01

20 CarMax USD 1,090 0.0093 Carnival (traded in United Kingdom) GBP 5,389 0.0226 Carnival (traded in United States) USD 1,498 0.0147 Caterpillar USD 4,385 0.01

438 CBL & Associates Properties USD 3,239 0.019 CBOE Holdings USD 724 0.00

31 CBRE Group – A – USD 980 0.0032 CBS – B – USD 1,814 0.0113 CDK Global USD 700 0.00

7 CDW USD 410 0.0014 Celanese – A – USD 1,163 0.0061 Celgene USD 6,990 0.0215 Centene USD 1,083 0.0042 CenterPoint Energy USD 999 0.0031 CenturyLink USD 655 0.0018 Cerner USD 1,042 0.0010 CF Industries Holdings USD 243 0.00

8 CH Robinson Worldwide USD 490 0.0093 Charles Schwab USD 3,502 0.0117 Charter Communications – A – USD 4,946 0.0290 Chatham Lodging Trust USD 1,593 0.0110 Cheniere Energy USD 423 0.00

130 Chesapeake Lodging Trust USD 2,784 0.01147 Chevron USD 13,446 0.04

1 Chipotle Mexican Grill USD 473 0.0029 Church & Dwight USD 1,325 0.0018 Cigna USD 2,626 0.01




31 Citizens Financial Group USD 967 0.0016 Citrix Systems USD 1,101 0.00

8 Clorox USD 945 0.0030 CME Group USD 3,297 0.0128 CMS Energy USD 1,154 0.0025 Coach USD 1,053 0.00

324 Coca-Cola USD 12,728 0.0442 Cognizant Technology Solutions – A – USD 2,440 0.0165 Colgate-Palmolive USD 4,207 0.0118 Colony NorthStar – A – USD 221 0.00


9 Comerica USD 576 0.0017 CommScope Holding USD 582 0.0027 Conagra Brands USD 853 0.0013 Concho Resources USD 1,406 0.01




33 Costco Wholesale USD 4,660 0.0249 Coty – A – USD 811 0.00

1,005 Cousins Properties USD 7,748 0.025 CR Bard USD 1,277 0.00









Currency Market

Value

% of

Net

Assets


200 CyrusOne USD 9,799 0.0354 Danaher USD 3,982 0.0112 Darden Restaurants USD 958 0.0017 DaVita USD 954 0.00


23 Deere & Co USD 2,442 0.0123 Dell Technologies – V – USD 1,215 0.0020 Delta Air Lines USD 924 0.0013 Dentsply Sirona USD 727 0.0035 Devon Energy USD 973 0.00




15 DISH Network – A – USD 823 0.0017 Dollar General USD 1,093 0.0022 Dollar Tree USD 1,331 0.0144 Dominion Energy USD 2,981 0.01


14 Dover USD 976 0.0089 Dow Chemical USD 4,904 0.0232 DR Horton USD 972 0.0017 Dr Pepper Snapple Group USD 1,321 0.0012 DTE Energy USD 1,088 0.0051 Duke Energy USD 3,771 0.01


23 DXC Technology USD 1,556 0.0113 E*TRADE Financial USD 420 0.0013 East West Bancorp USD 664 0.0056 Easterly Government Properties USD 1,020 0.0069 EastGroup Properties USD 5,056 0.0215 Eastman Chemical USD 1,113 0.0039 Eaton USD 2,674 0.01

3 Eaton Vance USD 110 0.0079 eBay USD 2,409 0.0119 Ecolab USD 2,215 0.0122 Edison International USD 1,520 0.01

179 Education Realty Trust USD 6,085 0.0214 Edwards Lifesciences USD 1,424 0.0168 EI du Pont de Nemours & Co USD 4,817 0.0221 Electronic Arts USD 1,960 0.0179 Eli Lilly & Co USD 5,683 0.0257 Emerson Electric USD 2,985 0.01

261 Empire State Realty Trust – A – USD 4,744 0.0216 Entergy USD 1,082 0.00

6 Envision Healthcare USD 322 0.0042 EOG Resources USD 3,299 0.01

162 EPR Properties USD 10,238 0.038 EQT USD 394 0.007 Equifax USD 891 0.006 Equinix USD 2,249 0.01

279 Equity Commonwealth USD 7,740 0.02180 Equity LifeStyle Properties USD 13,600 0.04848 Equity Residential USD 48,972 0.15154 Essex Property Trust USD 34,683 0.11

19 Estee Lauders Cos – A – USD 1,634 0.0121 Eversource Energy USD 1,103 0.0076 Exelon USD 2,391 0.01



7 F5 Networks USD 759 0.00185 Facebook – A – USD 24,434 0.07

19 Fastenal USD 739 0.00169 Federal Realty Investment Trust USD 18,747 0.06




237






Currency Market

Value

% of

Net

Assets





13 Fluor USD 506 0.0013 FMC USD 850 0.0025 FNF Group USD 986 0.0014 Foot Locker USD 598 0.00


15 Fortinet USD 489 0.0031 Fortive USD 1,747 0.0116 Fortune Brands Home & Security USD 892 0.0022 Franklin Resources USD 866 0.00





1,492 GGP USD 30,828 0.09103 Gilead Sciences USD 6,373 0.02136 Global Net Lease USD 2,655 0.01

16 Global Payments USD 1,240 0.0030 Goldman Sachs Group USD 5,783 0.0215 Goodyear Tire & Rubber USD 452 0.00

160 Government Properties Income Trust USD 2,567 0.01345 Gramercy Property Trust USD 8,980 0.03

23 H&R Block USD 614 0.0073 Halliburton USD 2,737 0.0132 Hanesbrands USD 646 0.0010 Harley-Davidson USD 457 0.00

7 Harris USD 636 0.0027 Hartford Financial Services Group USD 1,246 0.00

8 Hasbro USD 739 0.0020 HCA Healthcare USD 1,560 0.01

1,121 HCP USD 31,406 0.1018 HD Supply Holdings USD 486 0.00


3 Helmerich & Payne USD 165 0.007 Henry Schein USD 1,162 0.00

62 Hersha Hospitality Trust USD 1,010 0.009 Hershey USD 891 0.00

29 Hess USD 1,115 0.00118 Hewlett Packard Enterprise USD 1,716 0.01235 Highwoods Properties USD 10,459 0.03


26 Hologic USD 1,015 0.0094 Home Depot USD 12,614 0.0457 Honeywell International USD 6,688 0.0214 Hormel Foods USD 423 0.0052 Host Hotels & Resorts USD 829 0.00



2 Huntington Ingalls Industries USD 315 0.007 IDEX USD 678 0.009 IDEXX Laboratories USD 1,288 0.00




8 International Flavors & Fragrances USD 959 0.0026 International Paper USD 1,289 0.00






Currency Market

Value

% of

Net

Assets



3 Intuitive Surgical USD 2,351 0.0122 Invesco USD 676 0.00

194 Investors Real Estate Trust USD 1,055 0.0025 Iron Mountain USD 765 0.00




20 Juniper Networks USD 493 0.0010 Kansas City Southern USD 893 0.0016 Kellogg USD 977 0.0065 KeyCorp USD 1,072 0.00

218 Kilroy Realty USD 14,364 0.0425 Kimberly-Clark USD 2,827 0.01

1,001 Kimco Realty USD 16,104 0.05141 Kinder Morgan USD 2,373 0.01180 Kite Realty Group Trust USD 2,980 0.01

16 KLA-Tencor USD 1,271 0.0016 Kohl’s USD 551 0.0044 Kraft Heinz USD 3,340 0.0162 Kroger USD 1,278 0.0025 L Brands USD 1,172 0.00

4 L3 Technologies USD 625 0.00176 La Quinta Holdings USD 2,281 0.01

10 Laboratory of America Holdings USD 1,407 0.0111 Lam Research USD 1,414 0.0126 Las Vegas Sands USD 1,463 0.01

7 Lear USD 935 0.009 Leggett & Platt USD 437 0.00

13 Leidos Holdings USD 581 0.0012 Lennar – A – USD 554 0.00


482 Lexington Realty Trust USD 4,191 0.0111 Liberty Broadband – C – USD 842 0.0044 Liberty Interactive QVC Group – A – USD 939 0.00


359 Liberty Property Trust USD 12,822 0.04112 Life Storage USD 7,284 0.02

15 Lincoln National USD 891 0.0014 LKQ USD 413 0.0020 Lockheed Martin USD 4,953 0.0218 Loews USD 751 0.0065 Lowe’s Cos USD 4,394 0.0195 LTC Properties USD 4,260 0.0123 LyondellBasell Industries – A – USD 1,697 0.0112 M&T Bank USD 1,728 0.01


11 Macquarie Infrastructure USD 772 0.008 Macy’s USD 171 0.00

10 Mallinckrodt USD 376 0.009 ManpowerGroup USD 861 0.00



6 Martin Marietta Materials USD 1,198 0.0030 Masco USD 990 0.0077 Mastercard – A – USD 8,207 0.0327 Mattel USD 513 0.0018 Maxim Integrated Products USD 696 0.00





238






Currency Market

Value

% of

Net

Assets


2 Mettler-Toledo International USD 1,224 0.00111 MGM Growth Properties – A – USD 2,835 0.01

46 MGM Resorts International USD 1,261 0.0014 Microchip Technology USD 915 0.0089 Micron Technology USD 2,322 0.01





109 Morgan Stanley USD 4,259 0.0134 Mosaic USD 677 0.0014 Motorola Solutions USD 1,028 0.0012 MSCI USD 1,068 0.00


8 Nasdaq USD 476 0.0093 National Health Investors USD 6,461 0.0231 National Oilwell Varco USD 898 0.00


364 New York REIT USD 2,758 0.0132 Newell Brands USD 1,524 0.0120 Newfield Exploration USD 504 0.0034 Newmont Mining USD 972 0.0039 News – A – USD 474 0.0035 NextEra Energy USD 4,252 0.0119 Nielsen Holdings USD 656 0.00


1 Nordstrom USD 26 0.0024 Norfolk Southern USD 2,551 0.0116 Northern Trust USD 1,326 0.0115 Northrop Grumman USD 3,328 0.01

146 NorthStar Realty Europe USD 1,619 0.016 Norwegian Cruise Line Holdings USD 290 0.00

14 Nuance Communications USD 219 0.0030 Nucor USD 1,531 0.0142 NVIDIA USD 5,376 0.02

0 NVR USD 1,010 0.0066 Occidental Petroleum USD 3,440 0.0114 OGE Energy USD 442 0.00

457 Omega Healthcare Investors USD 13,240 0.0414 Omnicom Group USD 1,019 0.0010 ONEOK USD 464 0.00

231 Oracle USD 10,142 0.039 O’Reilly Automotive USD 1,632 0.01

27 PACCAR USD 1,565 0.014 Packaging of America USD 431 0.009 Palo Alto Networks USD 1,069 0.00

466 Paramount Group USD 6,537 0.0210 Parker-Hannifin USD 1,446 0.0176 Parkway USD 1,516 0.0124 Parsley Energy – A – USD 591 0.00

5 Pattersons Cos USD 223 0.0029 Paychex USD 1,463 0.0184 PayPal Holdings USD 3,968 0.01

152 Pennsylvania Real Estate Investment Trust USD 1,510 0.0117 People’s United Financial USD 264 0.00










Currency Market

Value

% of

Net

Assets






1,231 Prologis USD 63,266 0.1937 Prudential Financial USD 3,551 0.0141 PS Business Parks USD 4,786 0.0234 Public Service Enterprise Group USD 1,270 0.00


13 Qorvo USD 718 0.00111 QTS Realty Trust – A – USD 5,086 0.02118 QUALCOMM USD 5,696 0.02229 Quality Care Properties USD 3,681 0.01


193 Ramco-Gershenson Properties Trust USD 2,184 0.0119 Range Resources USD 383 0.00






249 Retail Opportunity Investments USD 4,192 0.01582 Retail Properties of America – A – USD 6,230 0.02155 Rexford Industrial Realty USD 3,723 0.01

65 Reynolds American USD 3,732 0.01292 RLJ Lodging Trust USD 5,082 0.02

17 Robert Half International USD 702 0.0010 Rockwell Automation USD 1,413 0.0117 Rockwell Collins USD 1,590 0.01

9 Roper Technologies USD 1,915 0.0137 Ross Stores USD 1,848 0.0110 Royal Caribbean Cruises USD 1,003 0.0021 S&P Global USD 2,718 0.01

156 Sabra Health Care REIT USD 3,291 0.011 Sabre USD 23 0.00

48 Salesforce.com USD 3,658 0.017 SBA Communications USD 881 0.00

14 SCANA USD 811 0.00105 Schlumberger USD 6,049 0.02

4 Scripps Networks Interactive – A – USD 223 0.0030 Seagate Technology USD 1,031 0.0020 Sealed Air USD 787 0.00









6 Southwest Airlines USD 336 0.001,132 Spirit Realty Capital USD 7,352 0.02



239






Currency Market

Value

% of

Net

Assets







34 SunTrust Banks USD 1,698 0.015 SVB Financial Group USD 724 0.00

37 Symantec USD 921 0.0069 Synchrony Financial USD 1,796 0.01

9 Synopsys USD 551 0.0034 Sysco USD 1,518 0.0117 T Rowe Price Group USD 1,105 0.00

231 Tanger Factory Outlet Centers USD 5,253 0.0224 Targa Resources USD 958 0.0045 Target USD 2,060 0.01

111 Taubman Centers USD 5,821 0.0212 TD Ameritrade Holding USD 467 0.00

2 Teleflex USD 339 0.00106 Terreno Realty USD 3,132 0.01

9 Tesla USD 2,927 0.0111 Tesoro USD 892 0.0080 Texas Instruments USD 5,363 0.0229 Thermo Fisher Scientific USD 4,490 0.01

152 Tier REIT USD 2,468 0.0113 Tiffany & Co USD 1,055 0.0061 Time Warner USD 5,328 0.0247 TJX Cos USD 2,974 0.0119 T-Mobile USD 1,019 0.00





617 UDR USD 21,073 0.0612 UGI USD 490 0.00

4 Ulta Salon Cosmetics & Fragrance USD 948 0.0015 Under Armour – A – USD 278 0.00



1 United Therapeutics USD 136 0.0076 UnitedHealth Group USD 12,332 0.04

9 Universal Health Services – B – USD 977 0.0024 Unum Group USD 989 0.00


4 Vail Resorts USD 638 0.0037 Valero Energy USD 2,163 0.0116 Vantiv – A – USD 883 0.0010 Varian Medical Systems USD 876 0.00

7 VCA USD 589 0.0010 Veeva Systems – A – USD 514 0.00




143 Visa – A – USD 11,740 0.04






Currency Market

Value

% of

Net

Assets




77 Walgreens Boots Alliance USD 5,255 0.02118 Wal-Mart Stores USD 7,799 0.02119 Walt Disney USD 11,096 0.03381 Washington Prime Group USD 2,800 0.01163 Washington Real Estate Investment Trust USD 4,561 0.01

38 Waste Management USD 2,450 0.017 Waters USD 1,175 0.00

20 WEC Energy Group USD 1,051 0.00253 Weingarten Realty Investors USD 6,690 0.02372 Wells Fargo & Co USD 18,059 0.06862 Welltower USD 56,586 0.17


7 Whirlpool USD 1,135 0.0033 Whole Foods Market USD 1,205 0.0072 Williams Cos USD 1,900 0.0112 Workday – A – USD 1,021 0.00

230 WP Carey USD 13,292 0.0413 WR Berkley USD 765 0.00

2 WW Grainger USD 391 0.0011 Wyndham Worldwide USD 980 0.00

8 Wynn Resorts USD 974 0.0035 Xcel Energy USD 1,404 0.0122 Xerox USD 551 0.0026 Xilinx USD 1,455 0.0118 Xylem USD 884 0.0023 Yum! Brands USD 1,504 0.0121 Zayo Group Holdings USD 558 0.00


2,919,481 8.78


9 Allianz Securicash SRI EUR 1,072,608 3.2315,100 Lyxor UCITS ETF MSCI AC Asia Pacific

Ex Japan EUR 746,016 2.24512 Natixis Asset Management Natixis



14,690,399 44.19Ireland

48,000 BlackRock Emerging Markets Index Fund –AE – EUR 894,192 2.69



14,903 Lyxor BofAML $ High Yield Bond UCITSETF USD 1,462,225 4.40


INVESTMENTS 32,868,177 98.88


240


AAMMF Verzekeringen Beleggingsfonds Defensief 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet


(6) Bundesrepublik Deutschland Future BOBL 09/17 EUR (797,055) 7,625 0.021 Bundesrepublik Deutschland Future BUND 09/17 EUR 62,200 (923) (0.00)1 Bundesrepublik Deutschland Future SCHATZ 09/17 EUR 48,351 (125) (0.00)0 EURO STOXX 50 Index Future 09/17 EUR 9,425 (291) (0.00)0 FTSE 100 Index Future 09/17 GBP 7,979 (188) (0.00)0 S&P 500 E-mini Index Future 09/17 USD 21,986 (62) (0.00)0 S&P 500 Index Future 09/17 USD 4,297 (11) (0.00)0 Swiss Market Index Future 09/17 CHF 3,095 (8) (0.00)0 Topix Index Future 09/17 JPY 6,495 24 0.00







241


AAMMF Verzekeringen Beleggingsfonds MatigDefensief 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Australia159,334 BHP Billiton Finance EUR 3.000% 29/05/24 182,185 0.07159,334 Telstra EUR 3.500% 21/09/22 182,591 0.07159,334 Wesfarmers EUR 1.250% 07/10/21 165,557 0.07

530,333 0.21Austria191,201 Austria Government Bond EUR 1.950% 18/06/19 200,318 0.0839,833 Austria Government Bond EUR 3.500% 15/09/21 46,078 0.02



1,777,788 0.70Belgium199,168 AG Insurance EUR 3.500% 30/06/47 209,624 0.08529,786 Anheuser-Busch InBev EUR 1.500% 17/03/25 549,648 0.22438,169 Belgium Government Bond EUR 4.000% 28/03/18 452,965 0.18328,627 Belgium Government Bond EUR 3.000% 28/09/19 354,429 0.14199,168 Belgium Government Bond EUR 3.750% 28/09/20 225,937 0.09199,168 Belgium Government Bond EUR 4.250% 28/09/21 237,158 0.09131,451 Belgium Government Bond EUR 2.250% 22/06/23 148,460 0.06119,500 Belgium Government Bond EUR 2.600% 22/06/24 138,667 0.0577,675 Belgium Government Bond EUR 0.800% 22/06/25 79,639 0.03



2,978,376 1.17Canada119,501 Bank of Nova Scotia EUR 0.375% 06/04/22 118,552 0.0559,750 Magna International EUR 1.900% 24/11/23 63,218 0.02




39,834 Hutchison WhampoaFinance 14 EUR 1.375% 31/10/21 41,019 0.02


59,750 CEZ EUR 4.875% 16/04/25 75,248 0.03

75,248 0.03Denmark159,334 Danske Bank EUR 0.500% 06/05/21 160,594 0.06119,501 Danske Bank EUR 3.875% 04/10/23 124,722 0.0539,833 ISS Global EUR 1.125% 07/01/21 40,708 0.02

326,024 0.13Finland121,492 Finland Government Bond EUR 4.375% 04/07/19 133,554 0.05159,334 Finland Government Bond EUR 3.500% 15/04/21 182,329 0.0781,659 Finland Government Bond EUR 2.000% 15/04/24 91,522 0.0459,750 Finland Government Bond EUR 0.875% 15/09/25 61,937 0.0359,750 Finland Government Bond EUR 0.500% 15/04/26 59,743 0.0279,667 Finnvera EUR 0.625% 19/11/21 81,964 0.0339,834 Nokia EUR 2.000% 15/03/24 40,563 0.02

651,612 0.26France159,334 Air Liquide Finance EUR 0.750% 13/06/24 160,035 0.06159,334 APRR EUR 1.875% 15/01/25 169,196 0.07398,335 Autoroutes du Sud de la

France EUR 2.875% 18/01/23 447,469 0.18159,334 AXA EUR 3.875% 20/05/49 173,475 0.07





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


79,667 Banque Federative du CreditMutuel EUR 1.250% 26/05/27 79,194 0.03

119,501 BNP Paribas EUR 0.750% 11/11/22 120,750 0.05199,168 BNP Paribas EUR 1.125% 15/01/23 204,776 0.08199,168 BNP Paribas EUR 2.875% 20/03/26 211,352 0.08159,334 BNP Paribas EUR 2.625% 14/10/27 168,453 0.07199,168 Bouygues EUR 3.625% 16/01/23 230,800 0.0939,834 BPCE EUR 0.625% 20/04/20 40,406 0.02


179,251 Electricite de France EUR 4.625% 11/09/24 223,961 0.09239,001 Engie EUR 0.875% 27/03/24 240,270 0.09756,837 France Government Bond












OAT EUR 0.500% 25/05/26 196,469 0.08159,334 HSBC France EUR 0.625% 03/12/20 161,512 0.06239,001 Klepierre EUR 1.750% 06/11/24 252,089 0.10119,501 Orange EUR 3.000% 15/06/22 133,968 0.0579,667 Orange EUR 2.500% 01/03/23 87,789 0.03




13,927,649 5.49Germany

39,833 Bertelsmann EUR 3.000% 23/04/75 41,384 0.02159,334 Bundesobligation EUR 0.000% 08/10/21 161,403 0.06398,335 Bundesrepublik Deutschland EUR 3.250% 04/01/20 436,678 0.17796,671 Bundesrepublik Deutschland EUR 1.500% 04/09/22 866,136 0.34736,920 Bundesrepublik Deutschland EUR 1.500% 15/05/23 805,150 0.32438,169 Bundesrepublik Deutschland EUR 1.750% 15/02/24 488,612 0.19438,169 Bundesrepublik Deutschland EUR 0.500% 15/02/25 449,250 0.18537,753 Bundesrepublik Deutschland EUR 0.500% 15/02/26 546,410 0.21956,005 Bundesschatzanweisungen EUR 0.000% 15/12/17 959,009 0.38956,005 Bundesschatzanweisungen EUR 0.000% 16/03/18 960,408 0.38


242





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


96,795 Continental EUR 3.125% 09/09/20 105,689 0.0479,667 Daimler EUR 2.250% 24/01/22 86,583 0.03



99,584 Eurogrid EUR 3.875% 22/10/20 111,152 0.04159,334 Eurogrid EUR 1.625% 03/11/23 166,935 0.06159,334 Eurogrid EUR 1.875% 10/06/25 169,123 0.0795,600 Evonik Industries EUR 1.000% 23/01/23 97,631 0.04

131,451 Linde EUR 2.000% 18/04/23 143,177 0.06159,334 Merck EUR 2.625% 12/12/74 167,710 0.0619,917 State of Lower Saxony EUR 1.625% 23/07/21 21,318 0.01


Guernsey EUR 1.250% 14/04/22 325,583 0.13

325,583 0.13Ireland199,168 Aquarius & Investments for

Zurich Insurance EUR 4.250% 02/10/43 229,092 0.0939,833 Bank of Ireland EUR 1.250% 09/04/20 40,948 0.02

159,334 CRH Finance DAC EUR 3.125% 03/04/23 180,023 0.0759,750 FCA Bank Ireland EUR 1.250% 21/01/21 60,903 0.02


292,776 Ireland Government Bond EUR 5.900% 18/10/19 334,833 0.13199,168 Ireland Government Bond EUR 3.400% 18/03/24 238,589 0.10235,018 Ireland Government Bond EUR 1.000% 15/05/26 237,671 0.0979,667 Johnson Controls

International EUR 1.000% 15/09/23 78,767 0.0339,834 Kerry Group Financial


1,804,482 0.71Italy159,334 Assicurazioni Generali EUR 5.500% 27/10/47 177,847 0.07159,334 Autostrade per l’Italia EUR 4.375% 16/03/20 177,753 0.07119,501 Autostrade per l’Italia EUR 5.875% 09/06/24 158,789 0.06119,501 Eni EUR 4.250% 03/02/20 132,019 0.0579,667 Eni EUR 2.625% 22/11/21 87,204 0.04













39,834 Terna Rete ElettricaNazionale EUR 1.000% 11/10/28 37,617 0.02

82,854 UniCredit EUR 2.000% 04/03/23 87,137 0.03

8,882,751 3.50





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Jersey


19,838 0.01Latvia


65,600 0.03Lithuania145,392 Lithuania Government


149,814 0.06Luxembourg159,334 Holcim Finance Luxembourg EUR 1.375% 26/05/23 162,761 0.0639,834 Novartis Finance EUR 1.625% 09/11/26 42,306 0.02

205,067 0.08Mexico


196,820 0.08Netherlands159,334 ABN AMRO Bank EUR 1.000% 16/04/25 161,235 0.06159,334 ABN AMRO Bank EUR 2.875% 30/06/25 168,307 0.07119,501 Adecco International

Financial Services EUR 1.000% 02/12/24 118,947 0.05159,334 Akzo Nobel EUR 1.750% 07/11/24 167,121 0.07159,334 Alliander EUR 3.250% 29/11/49 165,585 0.07159,334 Allianz Finance II EUR 5.750% 08/07/41 188,033 0.07159,334 ASR Nederland EUR 5.125% 29/09/45 179,895 0.07239,001 ASR Nederland EUR 5.000% 30/09/49 262,032 0.1056,165 Bayer Capital EUR 1.250% 13/11/23 58,808 0.02





159,334 LeasePlan EUR 1.000% 08/04/20 162,048 0.06159,334 LeasePlan EUR 1.000% 24/05/21 161,548 0.06199,168 Netherlands Government





Bond EUR 0.500% 15/07/26 274,937 0.1139,834 Repsol International Finance EUR 3.875% 29/12/49 41,604 0.02






78,940 0.03


243





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Norway


269,017 0.11Portugal358,502 Brisa Concessao Rodoviaria EUR 2.000% 22/03/23 374,901 0.15

374,901 0.15Slovakia149,376 Slovakia Government Bond EUR 4.000% 27/04/20 168,181 0.0679,667 Slovakia Government Bond EUR 3.000% 28/02/23 93,579 0.04

261,760 0.10Spain159,334 Abertis Infraestructuras EUR 1.375% 20/05/26 158,093 0.06239,001 BBVA Subordinated Capital EUR 3.500% 11/04/24 251,306 0.1079,667 Enagas Financiaciones EUR 2.500% 11/04/22 87,660 0.04





437,397 0.17Sweden




1,275,580 0.50Switzerland159,334 Credit Suisse EUR 1.375% 29/11/19 164,300 0.06119,501 UBS Group Funding


Switzerland EUR 1.250% 01/09/26 157,411 0.06

444,192 0.17United Kingdom159,334 BAT International Finance EUR 3.625% 09/11/21 179,783 0.0779,667 BAT International Finance EUR 0.875% 13/10/23 78,499 0.0339,834 BP Capital Markets EUR 4.154% 01/06/20 44,407 0.0279,667 BP Capital Markets EUR 1.373% 03/03/22 82,804 0.0379,667 BP Capital Markets EUR 0.830% 19/09/24 78,481 0.03

159,334 British Telecommunications EUR 1.125% 10/03/23 161,420 0.0639,834 Compass Group EUR 1.875% 27/01/23 42,483 0.0259,750 FCE Bank EUR 1.875% 24/06/21 62,474 0.0299,584 FCE Bank EUR 1.134% 10/02/22 100,567 0.0459,750 FCE Bank EUR 1.615% 11/05/23 60,875 0.0249,792 GlaxoSmithKline Capital EUR 4.000% 16/06/25 61,316 0.02







market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United Kingdom (continued)179,251 United Utilities Water EUR 4.250% 24/01/20 197,544 0.08199,168 Vodafone Group EUR 1.250% 25/08/21 205,202 0.08



159,334 AT&T EUR 2.650% 17/12/21 172,500 0.0739,834 AT&T EUR 1.300% 05/09/23 40,209 0.02

199,168 AT&T EUR 3.500% 17/12/25 227,178 0.09278,835 Bank of America EUR 1.379% 07/02/25 280,276 0.1199,584 Citigroup EUR 1.071% 10/02/19 99,961 0.0479,667 Coca-Cola European

Partners US EUR 2.750% 06/05/26 89,278 0.03159,334 Eli Lilly & Co EUR 1.000% 02/06/22 163,436 0.0639,833 General Electric EUR 0.875% 17/05/25 39,335 0.0259,750 General Mills EUR 2.100% 16/11/20 63,027 0.0219,917 General Motors Financial EUR 0.955% 07/09/23 19,280 0.01




Funding I EUR 0.875% 20/01/22 182,435 0.07358,502 Morgan Stanley EUR 1.875% 30/03/23 375,720 0.15199,168 Pfizer EUR 5.750% 03/06/21 241,702 0.1059,750 Philip Morris International EUR 2.875% 30/05/24 67,415 0.0359,750 Philip Morris International EUR 2.750% 19/03/25 67,072 0.0359,750 Praxair EUR 1.200% 12/02/24 61,427 0.02




4,776,013 1.88


244






Currency Market

Value

% of

Net

Assets




15,138 BHP Billiton GBP 202,745 0.0811,998 BWP Trust AUD 24,045 0.01

7,450 Charter Hall Retail REIT AUD 20,392 0.0144,184 Cromwell Property Group AUD 28,229 0.0128,278 Dexus AUD 180,286 0.0750,631 Goodman Group AUD 267,981 0.1150,645 GPT Group AUD 163,148 0.0613,418 Investa Office Fund AUD 39,616 0.01




2,109,328 0.83Austria

552 ANDRITZ EUR 29,111 0.012,950 BUWOG EUR 74,200 0.031,809 Erste Group Bank EUR 60,653 0.02

23,156 IMMOFINANZ EUR 46,335 0.02933 OMV EUR 42,412 0.02

1,345 Raiffeisen Bank International EUR 29,714 0.01568 voestalpine EUR 23,174 0.01

305,599 0.12Belgium

1,153 Ageas EUR 40,657 0.025,371 Anheuser-Busch InBev EUR 519,436 0.20


1,902 KBC Group EUR 126,306 0.05859 Proximus EUR 26,296 0.01609 Solvay EUR 71,609 0.03199 Telenet Group Holding EUR 10,998 0.00


1,022,341 0.40Bermuda

201 Arch Capital Group USD 16,465 0.0127 Axis Capital Holdings USD 1,541 0.0070 Everest Re Group USD 15,593 0.01

252 Marvell Technology Group USD 3,642 0.0038 RenaissanceRe Holdings USD 4,643 0.00

208 XL Group USD 7,982 0.00

49,866 0.02Brazil

24,185 BR Malls Participacoes BRL 76,479 0.032,063 Iguatemi Empresa de Shopping Centers BRL 17,969 0.002,626 Multiplan Empreendimentos Imobiliarios BRL 45,394 0.02

139,842 0.05Canada


4,211 Artis Real Estate Investment Trust CAD 37,243 0.011,040 Boardwalk Real Estate Investment Trust CAD 33,397 0.013,986 Canadian Apartment Properties REIT CAD 90,341 0.032,169 Canadian Real Estate Investment Trust CAD 67,175 0.035,305 Chartwell Retirement Residences CAD 55,481 0.024,864 Cominar Real Estate Investment Trust CAD 41,735 0.023,247 Dream Office Real Estate Investment Trust CAD 42,854 0.024,084 First Capital Realty CAD 54,475 0.021,151 Granite Real Estate Investment CAD 39,854 0.028,269 H&R Real Estate Investment Trust CAD 122,927 0.05

0 International Petroleum SEK 0 0.00140 lululemon Athletica USD 7,323 0.00

6,248 Pure Industrial Real Estate Trust CAD 29,020 0.018,828 RioCan Real Estate Investment Trust CAD 143,460 0.062,966 Smart Real Estate Investment Trust CAD 64,314 0.02


915,030 0.36






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile

3,582 Antofagasta GBP 32,613 0.01

32,613 0.01Denmark



5,594 Danske Bank DKK 188,385 0.081,116 DONG Energy DKK 44,096 0.021,440 DSV DKK 77,498 0.03


12,746 Novo Nordisk – B – DKK 477,934 0.191,589 Novozymes – B – DKK 60,890 0.02

767 Pandora DKK 62,649 0.037,844 TDC DKK 39,944 0.02

224 Tryg DKK 4,296 0.001,680 Vestas Wind Systems DKK 135,780 0.051,088 William Demant Holding DKK 24,647 0.01

1,547,761 0.61Finland

722 Elisa EUR 24,499 0.012,774 Fortum EUR 38,091 0.022,559 Kone – B – EUR 113,959 0.04


41,986 Nokia EUR 224,833 0.091,050 Nokian Renkaat EUR 38,032 0.01

749 Orion – B – EUR 41,883 0.023,362 Sampo – A – EUR 150,855 0.063,423 Stora Enso – R – EUR 38,719 0.024,047 UPM-Kymmene EUR 101,006 0.041,096 Wartsila EUR 56,732 0.02

884,117 0.35France

1,445 Accor EUR 59,302 0.02163 Aeroports de Paris EUR 23,045 0.01

2,779 Air Liquide EUR 300,672 0.124,170 Airbus EUR 300,266 0.121,396 Alstom EUR 42,742 0.02


13,487 AXA EUR 323,009 0.138,131 BNP Paribas EUR 512,755 0.204,154 Bollore EUR 16,538 0.011,615 Bouygues EUR 59,607 0.022,010 Bureau Veritas EUR 38,943 0.021,065 Capgemini EUR 96,391 0.044,074 Carrefour EUR 90,228 0.04

607 Casino Guichard Perrachon EUR 31,473 0.013,789 Cie de Saint-Gobain EUR 177,250 0.071,297 Cie Generale des Etablissements Michelin EUR 150,961 0.06

706 CNP Assurances EUR 13,877 0.017,637 Credit Agricole EUR 107,565 0.044,084 Danone EUR 268,775 0.11


1,567 Edenred EUR 35,765 0.01557 Eiffage EUR 44,333 0.02

3,675 Electricite de France EUR 34,849 0.0112,045 Engie EUR 159,178 0.06

1,573 Essilor International EUR 175,266 0.07156 Eurazeo EUR 10,276 0.00

1,616 Eutelsat Communications EUR 36,133 0.011,095 Fonciere Des Regions EUR 88,958 0.031,327 Gecina EUR 182,222 0.073,962 Groupe Eurotunnel EUR 36,995 0.01

237 Hermes International EUR 102,464 0.041,056 ICADE EUR 77,600 0.03

218 Iliad EUR 45,202 0.02272 Imerys EUR 20,740 0.01409 Ingenico Group EUR 32,506 0.01342 Ipsen EUR 40,947 0.02634 JCDecaux EUR 18,199 0.01


245






Currency Market

Value

% of

Net

Assets


524 Kering EUR 156,172 0.067,198 Klepierre EUR 258,311 0.10

567 Lagardere EUR 15,690 0.011,793 Legrand EUR 109,841 0.041,812 L’Oreal EUR 330,537 0.131,957 LVMH Moet Hennessy Louis Vuitton EUR 427,230 0.177,773 Natixis EUR 45,683 0.02

15,126 Orange EUR 210,099 0.081,610 Pernod Ricard EUR 188,762 0.073,843 Peugeot EUR 67,113 0.031,489 Publicis Groupe EUR 97,234 0.04

203 Remy Cointreau EUR 20,762 0.011,312 Renault EUR 103,954 0.042,296 Rexel EUR 32,887 0.012,250 Safran EUR 180,553 0.078,484 Sanofi EUR 710,578 0.283,888 Schneider Electric EUR 261,567 0.101,510 SCOR EUR 52,428 0.02


5,278 Societe Generale EUR 248,638 0.10600 Sodexo EUR 67,861 0.03

1,978 Suez EUR 32,077 0.01803 Thales EUR 75,631 0.03

17,013 TOTAL EUR 736,391 0.293,069 Unibail-Rodamco EUR 677,254 0.27

299 Unibail-Rodamco (traded in Netherlands) EUR 66,049 0.031,582 Valeo EUR 93,341 0.043,955 Veolia Environnement EUR 73,169 0.033,466 Vinci EUR 258,999 0.107,067 Vivendi EUR 137,743 0.05

138 Wendel EUR 17,840 0.011,689 Zodiac Aerospace EUR 40,118 0.02

9,832,524 3.88Germany

1,288 adidas EUR 216,023 0.083,321 Allianz EUR 572,471 0.233,726 alstria office REIT EUR 44,093 0.02

441 Axel Springer EUR 23,195 0.016,475 BASF EUR 525,027 0.216,033 Bayer EUR 682,918 0.272,510 Bayerische Motoren Werke EUR 204,035 0.08


1,145 Brenntag EUR 58,028 0.028,071 Commerzbank EUR 84,178 0.03


6,754 Daimler EUR 428,016 0.1714,133 Deutsche Bank EUR 219,417 0.09

1,463 Deutsche Boerse EUR 135,232 0.051,433 Deutsche Euroshop EUR 49,463 0.022,003 Deutsche Lufthansa EUR 39,901 0.026,802 Deutsche Post EUR 223,233 0.09

23,553 Deutsche Telekom EUR 370,245 0.1512,006 Deutsche Wohnen EUR 402,097 0.1616,643 E.ON EUR 137,275 0.05


Worldwide EUR 24,080 0.012,842 Fresenius & Co EUR 213,308 0.081,604 Fresenius Medical Care & Co EUR 135,042 0.05

589 FUCHS PETROLUB – Pref – EUR 28,080 0.011,387 GEA Group EUR 49,680 0.02

374 Hannover Rueck EUR 39,218 0.021,128 HeidelbergCement EUR 95,511 0.04

731 Henkel & Co EUR 77,450 0.031,368 Henkel & Co – Pref – EUR 164,856 0.06


8,726 Infineon Technologies EUR 161,295 0.061,041 Innogy EUR 35,891 0.011,739 K+S EUR 38,978 0.01

776 LANXESS EUR 51,416 0.021,588 LEG Immobilien EUR 130,736 0.051,270 Linde EUR 210,566 0.08

267 MAN EUR 25,086 0.01






Currency Market

Value

% of

Net

Assets


850 Merck EUR 89,934 0.041,619 METRO EUR 47,855 0.021,221 Muenchener



1,741 ProSiebenSat.1 Media EUR 63,794 0.023,254 RWE EUR 56,764 0.027,161 SAP EUR 654,851 0.26

507 Schaeffler – Pref – EUR 6,362 0.005,414 Siemens EUR 651,558 0.261,045 Symrise EUR 64,820 0.033,492 TAG Immobilien EUR 48,067 0.023,138 Telefonica Deutschland Holding EUR 13,721 0.012,789 thyssenkrupp EUR 69,375 0.033,999 TUI GBP 50,964 0.02


1,407 Volkswagen – Pref – EUR 187,622 0.0715,787 Vonovia EUR 548,829 0.22

801 Zalando EUR 32,050 0.01

9,213,490 3.63Hong Kong


1,696,096 0.67Ireland

801 Accenture – A – USD 86,828 0.03801 AerCap Holdings USD 32,593 0.01106 Alkermes USD 5,386 0.00139 Allegion USD 9,871 0.00

200,930 Bank of Ireland EUR 46,214 0.026,314 CRH EUR 195,562 0.08

673 DCC GBP 53,604 0.0245 Jazz Pharmaceuticals USD 6,176 0.00

1,140 Kerry Group – A – EUR 85,847 0.031,800 Medtronic USD 140,102 0.06



760,914 0.30Italy

9,359 Assicurazioni Generali EUR 134,867 0.053,247 Atlantia EUR 80,003 0.03

58,513 Enel EUR 274,658 0.1118,301 Eni EUR 240,847 0.10


8,470 Intesa Sanpaolo – RSP – EUR 21,987 0.011,042 Luxottica Group EUR 52,773 0.023,131 Mediobanca EUR 27,054 0.013,961 Poste Italiane EUR 23,746 0.011,876 Prysmian EUR 48,309 0.02

950 Recordati EUR 33,735 0.014,615 Saipem EUR 14,924 0.01


1,739,417 0.69Japan




246






Currency Market

Value

% of

Net

Assets


17,744 Daiwa House Industry JPY 531,426 0.2141 Daiwa House REIT Investment JPY 85,567 0.0311 Daiwa Office Investment JPY 48,226 0.0213 Frontier Real Estate Investment JPY 48,523 0.0274 GLP J-REIT JPY 69,665 0.03



101 Invincible Investment JPY 38,214 0.0232 Japan Excellent JPY 30,977 0.01

101 Japan Hotel REIT Investment JPY 62,619 0.0227 Japan Logistics Fund JPY 48,771 0.0225 Japan Prime Realty Investment JPY 76,060 0.0337 Japan Real Estate Investment JPY 161,774 0.0650 Japan Rental Housing Investments JPY 32,333 0.0173 Japan Retail Fund Investment JPY 117,801 0.0512 Kenedix Office Investment JPY 56,169 0.0213 Kenedix Retail REIT JPY 23,777 0.0132 LaSalle Logiport REIT JPY 28,397 0.01


42 Mori Hills REIT Investment JPY 45,767 0.0225 Mori Trust Sogo REIT JPY 34,894 0.0113 Nippon Accommodations Fund JPY 48,965 0.0238 Nippon Building Fund JPY 169,577 0.0744 Nippon Prologis REIT JPY 82,416 0.03


71 Orix JREIT JPY 92,347 0.0431 Premier Investment JPY 26,525 0.01

12,690 Sumitomo Realty & Development JPY 343,115 0.145,805 Tokyo Tatemono JPY 66,676 0.03


4,224,899 1.66Jersey


53,697 0.02Jordan




3,067 Grand City Properties EUR 53,812 0.02259 Millicom International Cellular – SDR – SEK 13,378 0.01351 RTL Group EUR 23,236 0.01

3,122 SES EUR 64,071 0.022,728 Tenaris EUR 37,244 0.01

331,349 0.13Mexico

80,752 Fibra Uno Administracion MXN 134,641 0.052,100 Fresnillo GBP 35,540 0.02


14,564 Aegon EUR 65,117 0.031,911 Akzo Nobel EUR 145,402 0.063,212 Altice – A – EUR 64,891 0.03

772 Altice – B – EUR 15,598 0.012,686 ASML Holding EUR 306,443 0.12

827 Boskalis Westminster EUR 23,516 0.0160 Core Laboratories USD 5,328 0.00


1,733 Heineken EUR 147,522 0.06794 Heineken Holding EUR 63,712 0.02

27,903 ING Groep EUR 421,336 0.179,714 Koninklijke Ahold Delhaize EUR 162,618 0.061,172 Koninklijke DSM EUR 74,554 0.03

21,392 Koninklijke KPN EUR 59,919 0.026,688 Koninklijke Philips EUR 207,964 0.08

427 Koninklijke Vopak EUR 17,346 0.012,072 NN Group EUR 64,481 0.022,489 NXP Semiconductors USD 238,864 0.091,389 QIAGEN EUR 40,449 0.02

637 Randstad Holding EUR 32,551 0.01






Currency Market

Value

% of

Net

Assets


31,862 Royal Dutch Shell – A – GBP 738,445 0.2926,946 Royal Dutch Shell – B – GBP 632,937 0.25

1,002 Wereldhave EUR 43,004 0.022,289 Wolters Kluwer EUR 84,839 0.03

3,724,947 1.47Norway

7,409 DNB NOK 110,126 0.041,817 Gjensidige Forsikring NOK 27,095 0.013,449 Marine Harvest NOK 51,585 0.02

10,277 Norsk Hydro NOK 49,780 0.024,841 Orkla NOK 42,992 0.02

18 Schibsted – A – NOK 380 0.0072 Schibsted – B – NOK 1,401 0.00

8,550 Statoil NOK 123,850 0.055,292 Telenor NOK 76,723 0.031,275 Yara International NOK 41,850 0.02

525,782 0.21Philippines279,328 SM Prime Holdings PHP 160,165 0.06


15,615 EDP - Energias de Portugal EUR 44,706 0.023,715 Galp Energia EUR 49,239 0.021,356 Jeronimo Martins EUR 23,183 0.01

117,128 0.05Romania





66,954 Growthpoint Properties ZAR 109,678 0.046,635 Hyprop Investments ZAR 51,835 0.025,625 Investec GBP 36,739 0.023,348 Mediclinic International GBP 28,275 0.013,033 Mondi GBP 69,572 0.03


460,289 0.18Spain

5,256 Abertis Infraestructuras EUR 85,255 0.032,010 ACS Actividades de Construccion y

Servicios EUR 67,996 0.032,010 ACS Actividades de Construccion y

Servicios – Rights – EUR 1,407 0.00486 Aena EUR 83,086 0.03

3,157 Amadeus IT Group EUR 165,268 0.0746,571 Banco Bilbao Vizcaya Argentaria EUR 338,340 0.1340,451 Banco de Sabadell EUR 71,963 0.03

106,080 Banco Santander EUR 614,416 0.249,822 Bankia EUR 41,566 0.023,981 Bankinter EUR 32,109 0.01

27,210 CaixaBank EUR 113,737 0.043,670 Distribuidora Internacional de

Alimentacion EUR 20,006 0.011,386 Enagas EUR 34,029 0.011,835 Endesa EUR 37,002 0.013,997 Ferrovial EUR 77,685 0.032,165 Gamesa Technologica EUR 40,482 0.022,100 Gas Natural SDG EUR 43,037 0.021,913 Grifols EUR 46,654 0.02

41,827 Iberdrola EUR 289,985 0.117,848 Industria de Diseno Textil EUR 263,756 0.106,792 Inmobiliaria Colonial EUR 51,805 0.024,303 Mapfre EUR 13,157 0.018,657 Merlin Properties Socimi EUR 95,750 0.042,936 Red Electrica EUR 53,710 0.02


247






Currency Market

Value

% of

Net

Assets


9,013 Repsol EUR 120,774 0.059,013 Repsol – Rights – EUR 3,605 0.00

32,387 Telefonica EUR 292,710 0.12

3,099,290 1.22Sweden

2,696 Alfa Laval SEK 48,312 0.027,599 Assa Abloy – B – SEK 146,216 0.065,091 Atlas Copco – A – SEK 170,945 0.072,959 Atlas Copco – B – SEK 89,523 0.04

128 Autoliv USD 12,287 0.001,585 Boliden SEK 37,888 0.026,839 Castellum SEK 87,938 0.031,956 Electrolux – B – SEK 56,138 0.023,926 Essity – B – SEK 94,069 0.043,736 Fabege SEK 62,920 0.022,409 Fastighets Balder – B – SEK 51,082 0.02

798 Getinge – B – SEK 13,676 0.017,198 Hennes & Mauritz – B – SEK 157,063 0.061,652 Hexagon – B – SEK 68,783 0.032,842 Hufvudstaden – A – SEK 41,273 0.022,549 Husqvarna – B – SEK 22,173 0.01


3,175 Investor – B – SEK 134,008 0.051,306 Kinnevik – B – SEK 35,017 0.01

361 L E Lundbergforetagenn – B – SEK 24,966 0.011,367 Lundin Petroleum SEK 23,041 0.01

21,483 Nordea Bank SEK 239,395 0.098,366 Sandvik SEK 115,234 0.051,498 Securitas – B – SEK 22,107 0.01

11,517 Skandinaviska Enskilda Banken – A – SEK 121,992 0.052,809 Skanska – B – SEK 58,370 0.022,860 SKF – B – SEK 50,739 0.02

11,578 Svenska Handelsbanken – A – SEK 145,150 0.065,977 Swedbank – A – SEK 127,546 0.051,208 Swedish Match SEK 37,264 0.013,080 Tele2 – B – SEK 28,241 0.01



14,340 ABB CHF 310,891 0.121,233 Adecco Group CHF 82,276 0.03

348 Baloise Holding CHF 47,270 0.028 Barry Callebaut CHF 9,580 0.009 Chocoladefabriken Lindt & Spruengli CHF 47,265 0.021 Chocoladefabriken Lindt & Spruengli –

REG – CHF 41,190 0.02561 Chubb USD 71,467 0.03

3,755 Cie Financiere Richemont CHF 271,618 0.111,658 Coca-Cola GBP 42,643 0.02


74 EMS-Chemie Holding CHF 48,167 0.02107 Garmin USD 4,794 0.00274 Geberit CHF 112,392 0.04


1,565 Julius Baer Group CHF 72,272 0.03320 Kuehne & Nagel International CHF 46,855 0.02

3,056 LafargeHolcim CHF 153,628 0.06477 Lonza Group CHF 90,485 0.04

22,246 Nestle CHF 1,699,643 0.6716,065 Novartis CHF 1,173,707 0.46


1,006 PSP Swiss Property CHF 82,497 0.035,054 Roche Holding CHF 1,130,020 0.45


39 SGS CHF 83,246 0.0314 Sika CHF 78,928 0.03

385 Sonova Holding CHF 54,879 0.025,402 STMicroelectronics EUR 67,898 0.03

87 Straumann Holding CHF 43,213 0.02241 Swatch Group CHF 78,262 0.03






Currency Market

Value

% of

Net

Assets


266 Swatch Group – REG – CHF 17,053 0.01243 Swiss Life Holding CHF 72,079 0.03

2,326 Swiss Prime Site CHF 185,464 0.072,457 Swiss Re CHF 197,166 0.08



1,874 Wolseley GBP 100,605 0.041,084 Zurich Insurance Group CHF 276,967 0.11


8,035 3i Group GBP 82,584 0.036,738 Aberdeen Asset Management GBP 23,177 0.011,545 Admiral Group GBP 35,236 0.018,802 Anglo American GBP 102,652 0.04

312 Aon USD 36,383 0.014,123 Ashtead Group GBP 74,618 0.032,228 Associated British Foods GBP 74,488 0.039,103 AstraZeneca GBP 532,335 0.217,312 Auto Trader Group GBP 31,644 0.01

31,024 Aviva GBP 185,847 0.072,296 Babcock International Group GBP 23,026 0.01

122,052 Barclays GBP 281,829 0.118,419 Barratt Developments GBP 54,029 0.02


13,413 British American Tobacco GBP 799,515 0.3235,339 British Land GBP 243,693 0.1064,190 BT Group GBP 215,475 0.08

2,772 Bunzl GBP 72,231 0.033,328 Burberry Group GBP 62,950 0.026,126 Capita GBP 48,248 0.02

13,833 Capital & Counties Properties GBP 46,113 0.0239,488 Centrica GBP 90,033 0.04

8,435 CNH Industrial EUR 83,634 0.0321,953 Cobham GBP 32,402 0.01

1,860 Coca-Cola European Partners EUR 66,120 0.0310,782 Compass Group GBP 198,928 0.0810,635 ConvaTec Group GBP 38,662 0.02

1,112 Croda International GBP 49,214 0.02299 Delphi Automotive USD 22,997 0.01

3,185 Derwent London GBP 96,277 0.0418,228 Diageo GBP 470,922 0.1910,043 Direct Line Insurance Group GBP 40,651 0.02

8,091 Dixons Carphone GBP 26,132 0.011,471 easyJet GBP 22,762 0.017,151 Experian GBP 128,274 0.056,527 Fiat Chrysler Automobiles EUR 60,248 0.02


8,902 Great Portland Estates GBP 60,524 0.0226,540 Hammerson GBP 173,646 0.07

1,494 Hargreaves Lansdown GBP 22,156 0.01142,896 HSBC Holdings GBP 1,158,229 0.46

592 IHS Markit USD 22,851 0.012,491 IMI GBP 33,906 0.016,974 Imperial Brands GBP 273,887 0.113,944 Inmarsat GBP 34,562 0.011,098 InterContinental Hotels Group GBP 53,380 0.025,778 International Consolidated Airlines Group EUR 40,152 0.021,058 Intertek Group GBP 50,815 0.02


1,434 Johnson Matthey GBP 46,898 0.022,133 Kennedy Wilson Europe Real Estate GBP 26,970 0.01



514,094 Lloyds Banking Group GBP 387,303 0.152,268 London Stock Exchange Group GBP 94,183 0.048,796 Marks & Spencer Group GBP 33,387 0.01


248






Currency Market

Value

% of

Net

Assets


7,046 Meggitt GBP 38,268 0.026,173 Merlin Entertainments GBP 33,780 0.01

209 Michael Kors Holdings USD 6,644 0.0024,726 National Grid GBP 268,031 0.11

0 NEX Group GBP 0 0.001,199 Next GBP 52,676 0.02

37,378 Old Mutual GBP 82,328 0.034,773 Pearson GBP 37,586 0.01

137 Pentair USD 7,990 0.002,339 Persimmon GBP 59,729 0.021,947 Petrofac GBP 9,803 0.001,372 Provident Financial GBP 38,013 0.01

18,022 Prudential GBP 361,454 0.144,785 Reckitt Benckiser Group GBP 424,161 0.177,324 RELX (traded in Netherlands) EUR 131,827 0.058,192 RELX (traded in United Kingdom) GBP 154,879 0.068,902 Rio Tinto GBP 328,694 0.13


6,824 Royal Mail GBP 32,732 0.015,733 RSA Insurance Group GBP 40,190 0.028,190 Sage Group GBP 64,174 0.03


2,004 Severn Trent GBP 49,795 0.024,826 Shaftesbury GBP 53,449 0.027,288 Sky GBP 82,503 0.035,854 Smith & Nephew GBP 88,334 0.033,266 Smiths Group GBP 59,406 0.027,671 SSE GBP 126,937 0.053,846 St James’s Place GBP 51,776 0.02


3,838 Tate & Lyle GBP 28,936 0.0127,017 Taylor Wimpey GBP 54,216 0.02


0 TP ICAP GBP 0 0.001,902 Travis Perkins GBP 31,520 0.01

31,906 Tritax Big Box REIT GBP 53,125 0.029,233 Unilever GBP 436,930 0.17

11,840 Unilever – CVA – EUR 572,110 0.236,282 UNITE Group GBP 46,429 0.025,632 United Utilities Group GBP 55,643 0.02

191,501 Vodafone Group GBP 474,905 0.191,328 Weir Group GBP 26,172 0.011,532 Whitbread GBP 69,227 0.03

135 Willis Towers Watson USD 17,232 0.0118,326 Wm Morrison Supermarkets GBP 50,340 0.0211,648 Worldpay Group GBP 41,761 0.02

9,711 WPP GBP 178,505 0.07


767 3M USD 140,046 0.062,104 Abbott Laboratories USD 89,681 0.042,084 AbbVie USD 132,480 0.052,373 Acadia Realty Trust USD 57,847 0.02

874 Activision Blizzard USD 44,135 0.0256 Acuity Brands USD 10,040 0.00

631 Adobe Systems USD 78,291 0.03108 Advance Auto Parts USD 11,047 0.00

1,320 Advanced Micro Devices USD 14,445 0.011,087 AES USD 10,585 0.00


444 Aflac USD 30,219 0.0174 AGCO USD 4,391 0.00


2,589 Alexandria Real Estate Equities USD 273,472 0.11335 Alexion Pharmaceuticals USD 35,775 0.01110 Align Technology USD 14,483 0.01

26 Alleghany USD 13,638 0.01






Currency Market

Value

% of

Net

Assets


407 Allergan USD 86,701 0.0342 Alliance Data Systems USD 9,368 0.00

374 Alliant Energy USD 13,180 0.01508 Allstate USD 39,404 0.02453 Ally Financial USD 8,296 0.00377 Alphabet – A – USD 306,964 0.12396 Alphabet – C – USD 315,427 0.12

2,496 Altria Group USD 162,956 0.06503 Amazon.com USD 427,271 0.17

10 AMERCO USD 3,076 0.00298 Ameren USD 14,262 0.01276 American Airlines Group USD 12,166 0.00973 American Assets Trust USD 33,613 0.01

3,761 American Campus Communities USD 155,964 0.06653 American Electric Power USD 39,773 0.02956 American Express USD 70,613 0.03108 American Financial Group USD 9,427 0.00

6,718 American Homes 4 Rent – A – USD 132,945 0.051,239 American International Group USD 67,939 0.03

506 American Tower USD 58,725 0.02220 American Water Works USD 15,059 0.01190 Ameriprise Financial USD 21,190 0.01149 AmerisourceBergen USD 12,330 0.00295 AMETEK USD 15,683 0.01900 Amgen USD 135,863 0.05451 Amphenol – A – USD 29,159 0.01748 Anadarko Petroleum USD 29,727 0.01475 Analog Devices USD 32,433 0.01845 Annaly Capital Management USD 8,931 0.00145 Ansys USD 15,466 0.01148 Antero Resources USD 2,804 0.00334 Anthem USD 55,078 0.02

76 AO Smith USD 3,742 0.00522 Apache USD 21,934 0.01

4,491 Apartment Investment & Management – A– USD 169,191 0.07

6,546 Apple USD 826,589 0.336,177 Apple Hospitality REIT USD 101,332 0.041,263 Applied Materials USD 45,747 0.02


67 Arista Networks USD 8,812 0.0035 Arrow Electronics USD 2,383 0.00

292 Arthur J Gallagher & Co USD 14,645 0.012,394 Ashford Hospitality Trust USD 12,760 0.01



79 AutoNation USD 2,912 0.0046 AutoZone USD 22,986 0.01

4,038 AvalonBay Communities USD 680,340 0.2755 Avery Dennison USD 4,263 0.0027 Avnet USD 904 0.0074 Axalta Coating Systems USD 2,091 0.00


12,662 Bank of America USD 269,329 0.111,221 Bank of New York Mellon USD 54,602 0.02

527 Baxter International USD 27,998 0.011,018 BB&T USD 40,521 0.02

288 Becton Dickinson & Co USD 49,305 0.02250 Bed Bath & Beyond USD 6,657 0.00

1,562 Berkshire Hathaway – B – USD 231,921 0.09469 Best Buy USD 23,569 0.01271 Biogen USD 64,418 0.03268 BioMarin Pharmaceutical USD 21,319 0.01152 BlackRock USD 56,217 0.02743 Boeing USD 128,903 0.05163 BorgWarner USD 6,062 0.00

4,460 Boston Properties USD 481,086 0.191,742 Boston Scientific USD 42,342 0.024,846 Brandywine Realty Trust USD 74,484 0.032,137 Bristol-Myers Squibb USD 104,408 0.048,508 Brixmor Property Group USD 133,369 0.05

523 Broadcom USD 106,811 0.04


249






Currency Market

Value

% of

Net

Assets


180 Broadridge Financial Solutions USD 11,900 0.006,332 Brookfield Property Partners CAD 131,151 0.05

362 Brown-Forman – B – USD 15,426 0.01231 Bunge USD 15,099 0.01516 CA USD 15,580 0.01679 Cabot Oil & Gas USD 14,922 0.01218 Cadence Design Systems USD 6,404 0.00

2,631 Camden Property Trust USD 197,230 0.08331 Campbell Soup USD 15,154 0.01603 Capital One Financial USD 43,697 0.02398 Cardinal Health USD 27,217 0.01

2,438 Care Capital Properties USD 57,069 0.021,955 CareTrust REIT USD 31,777 0.01

320 CarMax USD 17,671 0.011,318 Carnival (traded in United Kingdom) GBP 76,255 0.03

422 Carnival (traded in United States) USD 24,285 0.01755 Caterpillar USD 71,111 0.03

5,473 CBL & Associates Properties USD 40,452 0.02147 CBOE Holdings USD 11,743 0.00498 CBRE Group – A – USD 15,891 0.01526 CBS – B – USD 29,415 0.01209 CDK Global USD 11,353 0.00121 CDW USD 6,652 0.00227 Celanese – A – USD 18,865 0.01995 Celgene USD 113,347 0.04251 Centene USD 17,565 0.01675 CenterPoint Energy USD 16,196 0.01507 CenturyLink USD 10,620 0.00290 Cerner USD 16,904 0.01161 CF Industries Holdings USD 3,937 0.00132 CH Robinson Worldwide USD 7,946 0.00

1,508 Charles Schwab USD 56,793 0.02272 Charter Communications – A – USD 80,208 0.03

1,129 Chatham Lodging Trust USD 19,887 0.01161 Cheniere Energy USD 6,864 0.00

1,620 Chesapeake Lodging Trust USD 34,765 0.012,384 Chevron USD 218,039 0.09

21 Chipotle Mexican Grill USD 7,665 0.00472 Church & Dwight USD 21,484 0.01290 Cigna USD 42,589 0.02139 Cimarex Energy USD 11,418 0.00230 Cincinnati Financial USD 14,588 0.01141 Cintas USD 15,599 0.01

6,112 Cisco Systems USD 167,720 0.07147 CIT Group USD 6,296 0.00

3,454 Citigroup USD 202,517 0.08501 Citizens Financial Group USD 15,679 0.01256 Citrix Systems USD 17,847 0.01131 Clorox USD 15,324 0.01487 CME Group USD 53,464 0.02462 CMS Energy USD 18,721 0.01411 Coach USD 17,075 0.01

5,249 Coca-Cola USD 206,398 0.08680 Cognizant Technology Solutions – A – USD 39,560 0.02

1,050 Colgate-Palmolive USD 68,223 0.03290 Colony NorthStar – A – USD 3,580 0.00

2,982 Colony Starwood Homes USD 89,715 0.043,654 Columbia Property Trust USD 71,691 0.035,953 Comcast – A – USD 203,129 0.08


1,662 ConocoPhillips USD 64,041 0.03437 Consolidated Edison USD 30,984 0.01221 Constellation Brands – A – USD 37,581 0.01

39 Cooper Cos USD 8,131 0.001,061 Corning USD 27,957 0.012,620 Corporate Office Properties Trust USD 80,482 0.03

21 CoStar Group USD 4,947 0.00539 Costco Wholesale USD 75,564 0.03799 Coty – A – USD 13,149 0.01


408 Crown Castle International USD 35,869 0.01110 Crown Holdings USD 5,776 0.00

1,222 CSX USD 58,466 0.024,789 CubeSmart USD 100,950 0.04






Currency Market

Value

% of

Net

Assets


170 Cummins USD 24,204 0.011,216 CVS Health USD 85,813 0.032,503 CyrusOne USD 122,368 0.05

873 Danaher USD 64,569 0.03196 Darden Restaurants USD 15,535 0.01272 DaVita USD 15,470 0.01

2,760 DCT Industrial Trust USD 129,319 0.059,434 DDR USD 75,020 0.03


39 DexCom USD 2,526 0.0054 Diamondback Energy USD 4,243 0.00

1 Dick’s Sporting Goods USD 41 0.004,597 Digital Realty Trust USD 455,240 0.18

529 Discover Financial Services USD 28,832 0.01146 Discovery Communications – A – USD 3,298 0.00

76 Discovery Communications – C – USD 1,678 0.00242 DISH Network – A – USD 13,338 0.01280 Dollar General USD 17,728 0.01352 Dollar Tree USD 21,589 0.01720 Dominion Energy USD 48,345 0.02

41 Domino’s Pizza USD 7,695 0.003,984 Douglas Emmett USD 133,484 0.05

225 Dover USD 15,820 0.011,438 Dow Chemical USD 79,523 0.03


10,759 Duke Realty USD 263,661 0.102,292 DuPont Fabros Technology USD 122,902 0.05

375 DXC Technology USD 25,234 0.01204 E*TRADE Financial USD 6,813 0.00210 East West Bancorp USD 10,764 0.00694 Easterly Government Properties USD 12,743 0.01859 EastGroup Properties USD 63,136 0.02245 Eastman Chemical USD 18,053 0.01636 Eaton USD 43,368 0.02

43 Eaton Vance USD 1,781 0.001,276 eBay USD 39,060 0.02


2,236 Education Realty Trust USD 75,984 0.03223 Edwards Lifesciences USD 23,087 0.01

1,104 EI du Pont de Nemours & Co USD 78,117 0.03343 Electronic Arts USD 31,779 0.01

1,277 Eli Lilly & Co USD 92,153 0.04926 Emerson Electric USD 48,404 0.02

3,253 Empire State Realty Trust – A – USD 59,243 0.02261 Entergy USD 17,553 0.01

95 Envision Healthcare USD 5,216 0.00674 EOG Resources USD 53,492 0.02

2,029 EPR Properties USD 127,849 0.05124 EQT USD 6,388 0.00120 Equifax USD 14,444 0.01

97 Equinix USD 36,463 0.013,489 Equity Commonwealth USD 96,654 0.042,244 Equity LifeStyle Properties USD 169,834 0.07

10,704 Equity Residential USD 617,806 0.241,934 Essex Property Trust USD 436,311 0.17

315 Estee Lauders Cos – A – USD 26,498 0.01336 Eversource Energy USD 17,879 0.01

1,226 Exelon USD 38,777 0.02138 Expedia USD 18,057 0.01266 Expeditors International of Washington USD 13,148 0.01721 Express Scripts Holding USD 40,350 0.02

5,108 Extended Stay America USD 86,706 0.033,683 Extra Space Storage USD 251,865 0.105,268 Exxon Mobil USD 372,845 0.15

110 F5 Networks USD 12,302 0.002,993 Facebook – A – USD 396,219 0.16

314 Fastenal USD 11,977 0.002,140 Federal Realty Investment Trust USD 237,177 0.09

299 FedEx USD 56,922 0.023,980 FelCor Lodging Trust USD 25,160 0.01


250






Currency Market

Value

% of

Net

Assets


455 Fidelity National Information Services USD 34,097 0.011,140 Fifth Third Bancorp USD 25,948 0.013,516 First Industrial Realty Trust USD 88,226 0.03

242 First Republic Bank USD 21,204 0.01468 FirstEnergy USD 11,968 0.00231 Fiserv USD 24,733 0.01143 FleetCor Technologies USD 18,113 0.01905 Flex USD 12,939 0.01129 FLIR Systems USD 3,906 0.00

48 Flowserve USD 1,972 0.00204 Fluor USD 8,201 0.00215 FMC USD 13,784 0.01407 FNF Group USD 15,989 0.01224 Foot Locker USD 9,696 0.00

5,320 Ford Motor USD 52,197 0.025,816 Forest City Realty Trust – A – USD 123,245 0.05

242 Fortinet USD 7,931 0.00510 Fortive USD 28,327 0.01253 Fortune Brands Home & Security USD 14,466 0.01358 Franklin Resources USD 14,046 0.01

2,949 Franklin Street Properties USD 28,645 0.012,183 Freeport-McMoRan USD 22,986 0.01



1,911 General Motors USD 58,535 0.02247 Genuine Parts USD 20,066 0.01

18,854 GGP USD 389,471 0.151,665 Gilead Sciences USD 103,341 0.041,700 Global Net Lease USD 33,150 0.01

254 Global Payments USD 20,110 0.01482 Goldman Sachs Group USD 93,781 0.04239 Goodyear Tire & Rubber USD 7,333 0.00

1,996 Government Properties Income Trust USD 32,051 0.014,305 Gramercy Property Trust USD 112,144 0.04

367 H&R Block USD 9,950 0.001,185 Halliburton USD 44,386 0.02

516 Hanesbrands USD 10,473 0.00157 Harley-Davidson USD 7,413 0.00108 Harris USD 10,310 0.00438 Hartford Financial Services Group USD 20,208 0.01123 Hasbro USD 11,978 0.00331 HCA Healthcare USD 25,298 0.01

14,138 HCP USD 396,167 0.16293 HD Supply Holdings USD 7,874 0.00


56 Helmerich & Payne USD 2,671 0.00117 Henry Schein USD 18,837 0.01777 Hersha Hospitality Trust USD 12,613 0.01154 Hershey USD 14,450 0.01470 Hess USD 18,081 0.01

1,914 Hewlett Packard Enterprise USD 27,834 0.012,938 Highwoods Properties USD 130,608 0.05

299 Hilton Worldwide Holdings USD 16,228 0.0164 HollyFrontier USD 1,534 0.00

414 Hologic USD 16,467 0.011,521 Home Depot USD 204,543 0.08

928 Honeywell International USD 108,460 0.04229 Hormel Foods USD 6,856 0.00839 Host Hotels & Resorts USD 13,445 0.01

2,137 HP USD 32,756 0.014,120 Hudson Pacific Properties USD 123,497 0.05

178 Humana USD 37,508 0.011,007 Huntington Bancshares USD 11,938 0.00

31 Huntington Ingalls Industries USD 5,101 0.00111 IDEX USD 10,994 0.00148 IDEXX Laboratories USD 20,888 0.01401 Illinois Tool Works USD 50,416 0.02215 Illumina USD 32,642 0.01260 Incyte USD 28,745 0.01

1,233 Independence Realty Trust USD 10,670 0.00351 Ingersoll-Rand USD 28,103 0.01119 Ingredion USD 12,407 0.00

5,926 Intel USD 175,305 0.07798 Intercontinental Exchange USD 46,142 0.02

1,098 International Business Machines USD 148,108 0.06






Currency Market

Value

% of

Net

Assets


131 International Flavors & Fragrances USD 15,558 0.01421 International Paper USD 20,908 0.01664 Interpublic Group of Cos USD 14,314 0.01272 Intuit USD 31,696 0.01


2,419 Investors Real Estate Trust USD 13,169 0.01412 Iron Mountain USD 12,397 0.00113 Jack Henry & Associates USD 10,272 0.00

54 Jacobs Engineering Group USD 2,586 0.0068 JB Hunt Transport Services USD 5,460 0.00

120 JM Smucker USD 12,424 0.003,449 Johnson & Johnson USD 400,003 0.161,368 Johnson Controls International USD 52,006 0.02

35 Jones Lang LaSalle USD 3,842 0.004,540 JPMorgan Chase & Co USD 363,797 0.14

327 Juniper Networks USD 8,002 0.00158 Kansas City Southern USD 14,482 0.01260 Kellogg USD 15,841 0.01

1,058 KeyCorp USD 17,383 0.012,722 Kilroy Realty USD 179,377 0.07

405 Kimberly-Clark USD 45,841 0.0212,663 Kimco Realty USD 203,739 0.08

2,291 Kinder Morgan USD 38,478 0.022,242 Kite Realty Group Trust USD 37,210 0.01

257 KLA-Tencor USD 20,607 0.01264 Kohl’s USD 8,935 0.00721 Kraft Heinz USD 54,158 0.02

1,013 Kroger USD 20,718 0.01402 L Brands USD 19,010 0.01

69 L3 Technologies USD 10,137 0.002,200 La Quinta Holdings USD 28,489 0.01

169 Laboratory of America Holdings USD 22,821 0.01185 Lam Research USD 22,926 0.01423 Las Vegas Sands USD 23,721 0.01122 Lear USD 15,163 0.01154 Leggett & Platt USD 7,082 0.00208 Leidos Holdings USD 9,414 0.00192 Lennar – A – USD 8,987 0.00

56 Lennox International USD 9,049 0.00242 Leucadia National USD 5,548 0.00321 Level 3 Communications USD 16,692 0.01

6,023 Lexington Realty Trust USD 52,335 0.02180 Liberty Broadband – C – USD 13,653 0.01707 Liberty Interactive QVC Group – A – USD 15,219 0.01102 Liberty Media Corp-Liberty SiriusXM – A

– USD 3,755 0.00293 Liberty Media Corp-Liberty SiriusXM – C

– USD 10,696 0.004,542 Liberty Property Trust USD 162,104 0.061,400 Life Storage USD 90,965 0.04

244 Lincoln National USD 14,456 0.01232 LKQ USD 6,692 0.00330 Lockheed Martin USD 80,316 0.03297 Loews USD 12,174 0.00

1,048 Lowe’s Cos USD 71,245 0.031,181 LTC Properties USD 53,202 0.02

372 LyondellBasell Industries – A – USD 27,514 0.01197 M&T Bank USD 28,023 0.01


182 Macquarie Infrastructure USD 12,519 0.00136 Macy’s USD 2,780 0.00155 Mallinckrodt USD 6,103 0.00143 ManpowerGroup USD 13,959 0.01650 Marathon Oil USD 6,753 0.00606 Marathon Petroleum USD 27,797 0.01


1,250 Mastercard – A – USD 133,082 0.05441 Mattel USD 8,318 0.00287 Maxim Integrated Products USD 11,290 0.00

88 McCormick & Co USD 7,544 0.001,006 McDonald’s USD 135,155 0.05

252 McKesson USD 36,333 0.01


251






Currency Market

Value

% of

Net

Assets


9,263 Medical Properties Trust USD 104,527 0.0433 MEDNAX USD 1,744 0.00

3,434 Merck & Co USD 192,991 0.081,092 MetLife USD 52,593 0.02

38 Mettler-Toledo International USD 19,853 0.011,383 MGM Growth Properties – A – USD 35,406 0.01

746 MGM Resorts International USD 20,454 0.01219 Microchip Technology USD 14,839 0.01

1,438 Micron Technology USD 37,656 0.019,134 Microsoft USD 552,014 0.223,259 Mid-America Apartment Communities USD 301,113 0.12

135 Middleby USD 14,423 0.0168 Mohawk Industries USD 14,358 0.01

275 Molson Coors Brewing – B – USD 20,834 0.011,828 Mondelez International – A – USD 69,220 0.034,362 Monogram Residential Trust REIT USD 37,132 0.01


1,768 Morgan Stanley USD 69,071 0.03548 Mosaic USD 10,971 0.00219 Motorola Solutions USD 16,667 0.01192 MSCI USD 17,323 0.01

94 Murphy Oil USD 2,107 0.00420 Mylan USD 14,279 0.01123 Nasdaq USD 7,712 0.00

1,162 National Health Investors USD 80,685 0.03504 National Oilwell Varco USD 14,566 0.01


442 Navient USD 6,456 0.00477 NetApp USD 16,742 0.01550 Netflix USD 72,055 0.03254 New York Community Bancorp USD 2,930 0.00

4,547 New York REIT USD 34,442 0.01526 Newell Brands USD 24,711 0.01327 Newfield Exploration USD 8,168 0.00555 Newmont Mining USD 15,755 0.01640 News – A – USD 7,683 0.00561 NextEra Energy USD 68,951 0.03314 Nielsen Holdings USD 10,642 0.00

1,805 NIKE – B – USD 93,369 0.04471 NiSource USD 10,470 0.00708 Noble Energy USD 17,577 0.01

10 Nordstrom USD 418 0.00388 Norfolk Southern USD 41,360 0.02252 Northern Trust USD 21,510 0.01240 Northrop Grumman USD 53,966 0.02

1,819 NorthStar Realty Europe USD 20,221 0.0199 Norwegian Cruise Line Holdings USD 4,700 0.00

232 Nuance Communications USD 3,544 0.00489 Nucor USD 24,831 0.01688 NVIDIA USD 87,174 0.03

8 NVR USD 16,374 0.011,063 Occidental Petroleum USD 55,782 0.02

235 OGE Energy USD 7,173 0.005,711 Omega Healthcare Investors USD 165,339 0.07

227 Omnicom Group USD 16,530 0.01164 ONEOK USD 7,518 0.00

3,741 Oracle USD 164,457 0.06138 O’Reilly Automotive USD 26,467 0.01438 PACCAR USD 25,379 0.01

72 Packaging of America USD 6,989 0.00148 Palo Alto Networks USD 17,331 0.01

5,819 Paramount Group USD 81,636 0.03167 Parker-Hannifin USD 23,441 0.01943 Parkway USD 18,930 0.01394 Parsley Energy – A – USD 9,584 0.00

88 Pattersons Cos USD 3,616 0.00475 Paychex USD 23,730 0.01

1,367 PayPal Holdings USD 64,340 0.031,900 Pennsylvania Real Estate Investment Trust USD 18,855 0.01

277 People’s United Financial USD 4,288 0.001,837 PepsiCo USD 185,971 0.077,485 Pfizer USD 220,448 0.09

673 PG&E USD 39,168 0.021,902 Philip Morris International USD 195,847 0.08

631 Phillips 66 USD 45,771 0.02






Currency Market

Value

% of

Net

Assets


4,137 Physicians Realty Trust USD 73,058 0.034,424 Piedmont Office Realty Trust – A – USD 81,768 0.03

183 Pinnacle West Capital USD 13,687 0.01235 Pioneer Natural Resources USD 32,941 0.01126 Plains GP Holdings – A – USD 2,879 0.00637 PNC Financial Services Group USD 69,766 0.03

33 Polaris Industries USD 2,697 0.00301 PPG Industries USD 29,041 0.01992 PPL USD 33,639 0.01380 Praxair USD 44,163 0.02


3,225 Procter & Gamble USD 246,458 0.10720 Progressive USD 27,816 0.01

15,515 Prologis USD 797,695 0.31607 Prudential Financial USD 57,580 0.02515 PS Business Parks USD 59,766 0.02546 Public Service Enterprise Group USD 20,599 0.01

4,456 Public Storage USD 814,622 0.32123 PulteGroup USD 2,638 0.00

84 PVH USD 8,384 0.00210 Qorvo USD 11,642 0.00

1,384 QTS Realty Trust – A – USD 63,518 0.031,908 QUALCOMM USD 92,359 0.042,863 Quality Care Properties USD 45,963 0.02

154 Quest Diagnostics USD 15,024 0.01148 Quintiles IMS Holdings USD 11,602 0.00

92 Ralph Lauren USD 5,981 0.002,412 Ramco-Gershenson Properties Trust USD 27,279 0.01

306 Range Resources USD 6,215 0.00125 Raymond James Financial USD 8,792 0.00334 Raytheon USD 47,276 0.02

8,010 Realty Income USD 387,508 0.15166 Red Hat USD 13,923 0.01

4,623 Regency Centers USD 253,916 0.1087 Regeneron Pharmaceuticals USD 37,432 0.01

2,089 Regions Financial USD 26,814 0.0139 Reinsurance Group of America USD 4,375 0.00

230 Republic Services USD 12,854 0.01123 ResMed USD 8,364 0.00

3,111 Retail Opportunity Investments USD 52,346 0.027,268 Retail Properties of America – A – USD 77,803 0.031,932 Rexford Industrial Realty USD 46,488 0.021,061 Reynolds American USD 60,524 0.023,643 RLJ Lodging Trust USD 63,463 0.03

271 Robert Half International USD 11,384 0.00161 Rockwell Automation USD 22,916 0.01280 Rockwell Collins USD 25,780 0.01153 Roper Technologies USD 31,053 0.01592 Ross Stores USD 29,968 0.01170 Royal Caribbean Cruises USD 16,272 0.01344 S&P Global USD 44,069 0.02

1,945 Sabra Health Care REIT USD 41,096 0.0220 Sabre USD 376 0.00

781 Salesforce.com USD 59,321 0.02121 SBA Communications USD 14,288 0.01224 SCANA USD 13,153 0.01

1,699 Schlumberger USD 98,084 0.0460 Scripps Networks Interactive – A – USD 3,618 0.00


36 Seattle Genetics USD 1,638 0.0068 SEI Investments USD 3,207 0.00

1,681 Select Income REIT USD 35,420 0.01304 Sempra Energy USD 30,024 0.01

6,351 Senior Housing Properties Trust USD 113,826 0.0480 Sensata Technologies Holding USD 2,995 0.00


92 Sherwin-Williams USD 28,324 0.016,288 Shire GBP 303,481 0.12

42 Signature Bank USD 5,321 0.009,029 Simon Property Group USD 1,280,494 0.503,271 Sirius XM Holdings USD 15,686 0.01

178 Skyworks Solutions USD 14,979 0.013,022 SL Green Realty USD 280,354 0.11

121 Snap-on USD 16,753 0.011,164 Southern USD 48,872 0.02


252






Currency Market

Value

% of

Net

Assets


100 Southwest Airlines USD 5,451 0.0014,132 Spirit Realty Capital USD 91,812 0.04

93 Splunk USD 4,631 0.001,467 Sprint USD 10,558 0.00

251 SS&C Technologies Holdings USD 8,442 0.002,351 STAG Industrial USD 56,884 0.02

248 Stanley Black & Decker USD 30,540 0.01142 Staples USD 1,256 0.00

1,891 Starbucks USD 96,661 0.04479 State Street USD 37,706 0.01352 Steel Dynamics USD 11,061 0.00

49 Stericycle USD 3,304 0.004,692 Store Capital USD 92,357 0.04

424 Stryker USD 51,639 0.023,338 Summit Hotel Properties USD 54,585 0.022,094 Sun Communities USD 161,025 0.06


603 Symantec USD 14,928 0.011,114 Synchrony Financial USD 29,116 0.01


2,880 Tanger Factory Outlet Centers USD 65,600 0.03392 Targa Resources USD 15,533 0.01729 Target USD 33,405 0.01

1,392 Taubman Centers USD 72,692 0.03201 TD Ameritrade Holding USD 7,572 0.00

30 Teleflex USD 5,501 0.001,325 Terreno Realty USD 39,113 0.02

150 Tesla USD 47,459 0.02176 Tesoro USD 14,472 0.01

1,289 Texas Instruments USD 86,964 0.03476 Thermo Fisher Scientific USD 72,812 0.03

1,902 Tier REIT USD 30,817 0.01208 Tiffany & Co USD 17,107 0.01981 Time Warner USD 86,398 0.03762 TJX Cos USD 48,224 0.02311 T-Mobile USD 16,519 0.01

53 Toll Brothers USD 1,819 0.0082 Torchmark USD 5,496 0.00


50 TransDigm Group USD 11,763 0.00403 Travelers Cos USD 44,733 0.02378 Trimble Navigation USD 11,823 0.00130 TripAdvisor USD 4,358 0.00

1,216 Twenty-First Century Fox – A – USD 30,219 0.01724 Twenty-First Century Fox – B – USD 17,699 0.01926 Twitter USD 14,508 0.01276 Tyson Foods – A – USD 15,156 0.01

7,803 UDR USD 266,625 0.11187 UGI USD 7,942 0.00

61 Ulta Salon Cosmetics & Fragrance USD 15,382 0.01237 Under Armour – A – USD 4,514 0.00104 Under Armour – C – USD 1,836 0.00970 Union Pacific USD 92,672 0.04

26 United Continental Holdings USD 1,733 0.00939 United Parcel Service – B – USD 91,020 0.04179 United Rentals USD 17,725 0.01993 United Technologies USD 106,279 0.04

19 United Therapeutics USD 2,210 0.001,230 UnitedHealth Group USD 199,977 0.08

148 Universal Health Services – B – USD 15,840 0.01392 Unum Group USD 16,030 0.01

3,103 Urban Edge Properties USD 64,551 0.032,164 US Bancorp USD 98,489 0.04


0 Varex Imaging USD 0 0.00157 Varian Medical Systems USD 14,208 0.01118 VCA USD 9,554 0.00155 Veeva Systems – A – USD 8,329 0.00








Currency Market

Value

% of

Net

Assets


5,124 Verizon Communications USD 200,639 0.08273 Vertex Pharmaceuticals USD 30,889 0.01389 VF USD 19,642 0.01386 Viacom – B – USD 11,370 0.00

2,315 Visa – A – USD 190,365 0.0831 VMware – A – USD 2,355 0.00

5,145 Vornado Realty Trust USD 423,565 0.17152 Voya Financial USD 4,931 0.00127 Vulcan Materials USD 14,147 0.01

12 WABCO Holdings USD 1,321 0.00126 Wabtec USD 10,092 0.00

1,241 Walgreens Boots Alliance USD 85,215 0.031,906 Wal-Mart Stores USD 126,475 0.051,931 Walt Disney USD 179,923 0.074,764 Washington Prime Group USD 34,961 0.012,036 Washington Real Estate Investment Trust USD 56,953 0.02

618 Waste Management USD 39,732 0.02118 Waters USD 19,048 0.01317 WEC Energy Group USD 17,037 0.01

3,166 Weingarten Realty Investors USD 83,542 0.036,028 Wells Fargo & Co USD 292,848 0.12

10,874 Welltower USD 713,595 0.28234 Westar Energy USD 10,859 0.00397 Western Digital USD 30,805 0.01810 Western Union USD 13,527 0.01419 WestRock USD 20,796 0.01839 Weyerhaeuser USD 24,637 0.01110 Whirlpool USD 18,398 0.01529 Whole Foods Market USD 19,547 0.01

1,161 Williams Cos USD 30,810 0.01195 Workday – A – USD 16,561 0.01

2,868 WP Carey USD 165,990 0.07204 WR Berkley USD 12,399 0.00

40 WW Grainger USD 6,339 0.00181 Wyndham Worldwide USD 15,895 0.01134 Wynn Resorts USD 15,796 0.01566 Xcel Energy USD 22,760 0.01355 Xerox USD 8,940 0.00418 Xilinx USD 23,600 0.01295 Xylem USD 14,339 0.01377 Yum! Brands USD 24,397 0.01334 Zayo Group Holdings USD 9,054 0.00

26 Zillow Group – C – USD 1,128 0.00284 Zimmer Biomet Holdings USD 31,974 0.01294 Zions Bancorporation USD 11,324 0.00685 Zoetis USD 37,474 0.01

41,880,400 16.51

OPEN ENDED FUNDSFrance182,000 Lyxor UCITS ETF MSCI AC Asia Pacific

Ex Japan EUR 8,991,710 3.54415 Natixis Asset Management Natixis


52,126,063 20.54Ireland560,000 BlackRock Emerging Markets Index Fund

– AE – EUR 10,432,240 4.11


21,000 Amundi Index Solutions - Amundi IndexMSCI Japan EUR 2,275,770 0.90



INVESTMENTS 252,357,889 99.46


253


AAMMF Verzekeringen Beleggingsfonds Matig Defensief 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet


(50) Bundesrepublik Deutschland Future BOBL 09/17 EUR (6,610,055) 63,240 0.023 Bundesrepublik Deutschland Future BUND 09/17 EUR 515,828 (7,656) (0.00)4 Bundesrepublik Deutschland Future SCHATZ 09/17 EUR 400,984 (1,040) (0.00)4 EURO STOXX 50 Index Future 09/17 EUR 130,721 (4,036) (0.00)1 FTSE 100 Index Future 09/17 GBP 110,074 (2,589) (0.00)3 S&P 500 E-mini Index Future 09/17 USD 303,392 (840) (0.00)0 S&P 500 Index Future 09/17 USD 69,678 (176) (0.00)0 Swiss Market Index Future 09/17 CHF 43,789 (118) (0.00)1 Topix Index Future 09/17 JPY 81,106 300 0.00







254


AAMMF Verzekeringen Beleggingsfonds MatigOffensief 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Australia176,255 BHP Billiton Finance EUR 3.000% 29/05/24 201,532 0.05176,254 Telstra EUR 3.500% 21/09/22 201,981 0.05176,254 Wesfarmers EUR 1.250% 07/10/21 183,138 0.04

586,651 0.14Austria211,505 Austria Government Bond EUR 1.950% 18/06/19 221,591 0.0544,063 Austria Government Bond EUR 3.500% 15/09/21 50,971 0.01



1,966,578 0.47Belgium220,318 AG Insurance EUR 3.500% 30/06/47 231,885 0.06586,046 Anheuser-Busch InBev EUR 1.500% 17/03/25 608,017 0.14484,700 Belgium Government Bond EUR 4.000% 28/03/18 501,067 0.12363,525 Belgium Government Bond EUR 3.000% 28/09/19 392,067 0.09220,318 Belgium Government Bond EUR 3.750% 28/09/20 249,930 0.06220,318 Belgium Government Bond EUR 4.250% 28/09/21 262,342 0.06145,410 Belgium Government Bond EUR 2.250% 22/06/23 164,226 0.04132,191 Belgium Government Bond EUR 2.600% 22/06/24 153,392 0.0485,924 Belgium Government Bond EUR 0.800% 22/06/25 88,097 0.02



3,294,661 0.78Canada132,191 Bank of Nova Scotia EUR 0.375% 06/04/22 131,141 0.0366,095 Magna International EUR 1.900% 24/11/23 69,932 0.02




44,064 Hutchison WhampoaFinance 14 EUR 1.375% 31/10/21 45,375 0.01


66,095 CEZ EUR 4.875% 16/04/25 83,239 0.02

83,239 0.02Denmark176,254 Danske Bank EUR 0.500% 06/05/21 177,649 0.04132,191 Danske Bank EUR 3.875% 04/10/23 137,966 0.0444,064 ISS Global EUR 1.125% 07/01/21 45,031 0.01

360,646 0.09Finland134,394 Finland Government Bond EUR 4.375% 04/07/19 147,736 0.03176,254 Finland Government Bond EUR 3.500% 15/04/21 201,692 0.0590,330 Finland Government Bond EUR 2.000% 15/04/24 101,241 0.0266,096 Finland Government Bond EUR 0.875% 15/09/25 68,514 0.0266,095 Finland Government Bond EUR 0.500% 15/04/26 66,087 0.0288,127 Finnvera EUR 0.625% 19/11/21 90,668 0.0244,064 Nokia EUR 2.000% 15/03/24 44,871 0.01

720,809 0.17France176,254 Air Liquide Finance EUR 0.750% 13/06/24 177,030 0.04176,254 APRR EUR 1.875% 15/01/25 187,163 0.04440,636 Autoroutes du Sud de la

France EUR 2.875% 18/01/23 494,988 0.12176,254 AXA EUR 3.875% 20/05/49 191,897 0.05





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


88,127 Banque Federative du CreditMutuel EUR 1.250% 26/05/27 87,604 0.02

132,191 BNP Paribas EUR 0.750% 11/11/22 133,572 0.03220,318 BNP Paribas EUR 1.125% 15/01/23 226,522 0.05220,318 BNP Paribas EUR 2.875% 20/03/26 233,796 0.06176,254 BNP Paribas EUR 2.625% 14/10/27 186,342 0.04220,318 Bouygues EUR 3.625% 16/01/23 255,309 0.0644,064 BPCE EUR 0.625% 20/04/20 44,697 0.01


198,286 Electricite de France EUR 4.625% 11/09/24 247,744 0.06264,382 Engie EUR 0.875% 27/03/24 265,786 0.06837,209 France Government Bond












OAT EUR 0.500% 25/05/26 217,333 0.05176,254 HSBC France EUR 0.625% 03/12/20 178,664 0.04264,382 Klepierre EUR 1.750% 06/11/24 278,859 0.07132,191 Orange EUR 3.000% 15/06/22 148,195 0.0488,127 Orange EUR 2.500% 01/03/23 97,112 0.02




15,406,679 3.67Germany

44,064 Bertelsmann EUR 3.000% 23/04/75 45,779 0.01176,254 Bundesobligation EUR 0.000% 08/10/21 178,543 0.04440,636 Bundesrepublik Deutschland EUR 3.250% 04/01/20 483,051 0.12881,272 Bundesrepublik Deutschland EUR 1.500% 04/09/22 958,115 0.23815,177 Bundesrepublik Deutschland EUR 1.500% 15/05/23 890,652 0.21484,700 Bundesrepublik Deutschland EUR 1.750% 15/02/24 540,500 0.13484,700 Bundesrepublik Deutschland EUR 0.500% 15/02/25 496,957 0.12594,859 Bundesrepublik Deutschland EUR 0.500% 15/02/26 604,436 0.14

1,057,526 Bundesschatzanweisungen EUR 0.000% 15/12/17 1,060,850 0.251,057,526 Bundesschatzanweisungen EUR 0.000% 16/03/18 1,062,397 0.25


255





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Germany (continued)107,075 Continental EUR 3.125% 09/09/20 116,912 0.0388,127 Daimler EUR 2.250% 24/01/22 95,778 0.02



110,159 Eurogrid EUR 3.875% 22/10/20 122,955 0.03176,254 Eurogrid EUR 1.625% 03/11/23 184,663 0.04176,254 Eurogrid EUR 1.875% 10/06/25 187,083 0.04105,753 Evonik Industries EUR 1.000% 23/01/23 107,999 0.03145,410 Linde EUR 2.000% 18/04/23 158,381 0.04176,254 Merck EUR 2.625% 12/12/74 185,519 0.0422,032 State of Lower Saxony EUR 1.625% 23/07/21 23,582 0.01


Guernsey EUR 1.250% 14/04/22 360,158 0.09

360,158 0.09Ireland220,318 Aquarius & Investments for

Zurich Insurance EUR 4.250% 02/10/43 253,420 0.0644,064 Bank of Ireland EUR 1.250% 09/04/20 45,297 0.01

176,254 CRH Finance DAC EUR 3.125% 03/04/23 199,140 0.0566,095 FCA Bank Ireland EUR 1.250% 21/01/21 67,371 0.02


323,868 Ireland Government Bond EUR 5.900% 18/10/19 370,391 0.09220,318 Ireland Government Bond EUR 3.400% 18/03/24 263,925 0.06259,975 Ireland Government Bond EUR 1.000% 15/05/26 262,910 0.0688,127 Johnson Controls

International EUR 1.000% 15/09/23 87,132 0.0244,064 Kerry Group Financial


1,996,107 0.47Italy176,254 Assicurazioni Generali EUR 5.500% 27/10/47 196,733 0.05176,254 Autostrade per l’Italia EUR 4.375% 16/03/20 196,630 0.05132,191 Autostrade per l’Italia EUR 5.875% 09/06/24 175,652 0.04132,191 Eni EUR 4.250% 03/02/20 146,039 0.0488,127 Eni EUR 2.625% 22/11/21 96,464 0.02







980,415 Italy Buoni Poliennali DelTesoro EUR 2.150% 15/12/21 1,041,877 0.25






44,063 Terna Rete ElettricaNazionale EUR 1.000% 11/10/28 41,612 0.01

91,652 UniCredit EUR 2.000% 04/03/23 96,390 0.02

9,826,044 2.34





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Jersey


21,945 0.00Latvia


72,566 0.02Lithuania160,832 Lithuania Government


165,723 0.04Luxembourg176,254 Holcim Finance Luxembourg EUR 1.375% 26/05/23 180,045 0.0444,064 Novartis Finance EUR 1.625% 09/11/26 46,799 0.01

226,844 0.05Mexico110,159 America Movil EUR 4.750% 28/06/22 131,471 0.0344,063 Petroleos Mexicanos EUR 3.125% 27/11/20 46,488 0.0144,064 Petroleos Mexicanos EUR 2.750% 21/04/27 39,761 0.01

217,720 0.05Netherlands176,254 ABN AMRO Bank EUR 1.000% 16/04/25 178,357 0.04176,254 ABN AMRO Bank EUR 2.875% 30/06/25 186,180 0.05132,191 Adecco International

Financial Services EUR 1.000% 02/12/24 131,579 0.03176,255 Akzo Nobel EUR 1.750% 07/11/24 184,868 0.05176,254 Alliander EUR 3.250% 29/11/49 183,169 0.04176,254 Allianz Finance II EUR 5.750% 08/07/41 208,001 0.05176,254 ASR Nederland EUR 5.125% 29/09/45 198,999 0.05264,382 ASR Nederland EUR 5.000% 30/09/49 289,858 0.0762,130 Bayer Capital EUR 1.250% 13/11/23 65,053 0.02





176,254 LeasePlan EUR 1.000% 08/04/20 179,257 0.04176,255 LeasePlan EUR 1.000% 24/05/21 178,703 0.04220,318 Netherlands Government





Bond EUR 0.500% 15/07/26 304,134 0.0744,064 Repsol International Finance EUR 3.875% 29/12/49 46,022 0.01






87,323 0.02


256





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Norway


297,585 0.07Portugal396,572 Brisa Concessao Rodoviaria EUR 2.000% 22/03/23 414,714 0.10

414,714 0.10Slovakia165,239 Slovakia Government Bond EUR 4.000% 27/04/20 186,040 0.0488,127 Slovakia Government Bond EUR 3.000% 28/02/23 103,517 0.03

289,557 0.07Spain176,255 Abertis Infraestructuras EUR 1.375% 20/05/26 174,881 0.04264,382 BBVA Subordinated Capital EUR 3.500% 11/04/24 277,993 0.0788,127 Enagas Financiaciones EUR 2.500% 11/04/22 96,969 0.02





483,846 0.11Sweden




1,411,039 0.34Switzerland176,254 Credit Suisse EUR 1.375% 29/11/19 181,748 0.05132,191 UBS Group Funding


Switzerland EUR 1.250% 01/09/26 174,127 0.04

491,362 0.12United Kingdom176,254 BAT International Finance EUR 3.625% 09/11/21 198,875 0.0588,127 BAT International Finance EUR 0.875% 13/10/23 86,835 0.0244,064 BP Capital Markets EUR 4.154% 01/06/20 49,122 0.0188,127 BP Capital Markets EUR 1.373% 03/03/22 91,597 0.0288,127 BP Capital Markets EUR 0.830% 19/09/24 86,815 0.02

176,255 British Telecommunications EUR 1.125% 10/03/23 178,562 0.0444,064 Compass Group EUR 1.875% 27/01/23 46,994 0.0166,095 FCE Bank EUR 1.875% 24/06/21 69,109 0.02

110,159 FCE Bank EUR 1.134% 10/02/22 111,246 0.0366,095 FCE Bank EUR 1.615% 11/05/23 67,340 0.0255,080 GlaxoSmithKline Capital EUR 4.000% 16/06/25 67,828 0.02







market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %United Kingdom (continued)198,286 United Utilities Water EUR 4.250% 24/01/20 218,523 0.05220,318 Vodafone Group EUR 1.250% 25/08/21 226,993 0.05



176,254 AT&T EUR 2.650% 17/12/21 190,819 0.0544,064 AT&T EUR 1.300% 05/09/23 44,479 0.01

220,318 AT&T EUR 3.500% 17/12/25 251,302 0.06308,445 Bank of America EUR 1.379% 07/02/25 310,040 0.07110,159 Citigroup EUR 1.071% 10/02/19 110,576 0.0388,127 Coca-Cola European

Partners US EUR 2.750% 06/05/26 98,759 0.02176,255 Eli Lilly & Co EUR 1.000% 02/06/22 180,791 0.0444,064 General Electric EUR 0.875% 17/05/25 43,512 0.0166,095 General Mills EUR 2.100% 16/11/20 69,720 0.0222,032 General Motors Financial EUR 0.955% 07/09/23 21,328 0.01




Funding I EUR 0.875% 20/01/22 201,808 0.05396,573 Morgan Stanley EUR 1.875% 30/03/23 415,619 0.10220,318 Pfizer EUR 5.750% 03/06/21 267,369 0.0666,095 Philip Morris International EUR 2.875% 30/05/24 74,574 0.0266,095 Philip Morris International EUR 2.750% 19/03/25 74,194 0.0266,095 Praxair EUR 1.200% 12/02/24 67,951 0.02




5,283,196 1.26


257






Currency Market

Value

% of

Net

Assets




37,645 BHP Billiton GBP 504,183 0.1219,831 BWP Trust AUD 39,743 0.0112,314 Charter Hall Retail REIT AUD 33,706 0.0173,030 Cromwell Property Group AUD 46,659 0.0146,740 Dexus AUD 297,992 0.0783,688 Goodman Group AUD 442,942 0.1083,710 GPT Group AUD 269,665 0.0622,179 Investa Office Fund AUD 65,480 0.02



108,083 Stockland AUD 318,378 0.08117,458 Vicinity Centres AUD 203,014 0.05

88,927 Westfield AUD 480,243 0.11

3,655,548 0.87Austria

1,373 ANDRITZ EUR 72,393 0.024,875 BUWOG EUR 122,644 0.034,499 Erste Group Bank EUR 150,831 0.04

38,274 IMMOFINANZ EUR 76,586 0.022,321 OMV EUR 105,469 0.023,344 Raiffeisen Bank International EUR 73,894 0.021,412 voestalpine EUR 57,628 0.01

659,445 0.16Belgium

2,867 Ageas EUR 101,105 0.0213,357 Anheuser-Busch InBev EUR 1,291,723 0.31

869 Cofinimmo EUR 93,544 0.021,105 Colruyt EUR 50,981 0.011,487 Groupe Bruxelles Lambert EUR 125,318 0.034,730 KBC Group EUR 314,094 0.072,135 Proximus EUR 65,393 0.021,516 Solvay EUR 178,075 0.04

496 Telenet Group Holding EUR 27,350 0.012,681 UCB EUR 161,479 0.041,413 Umicore EUR 86,080 0.02

2,495,142 0.59Bermuda

524 Arch Capital Group USD 42,840 0.0170 Axis Capital Holdings USD 4,009 0.00

182 Everest Re Group USD 40,572 0.01654 Marvell Technology Group USD 9,477 0.00

99 RenaissanceRe Holdings USD 12,080 0.00541 XL Group USD 20,770 0.01

129,748 0.03Brazil


231,143 0.05Canada


6,960 Artis Real Estate Investment Trust CAD 61,557 0.011,720 Boardwalk Real Estate Investment Trust CAD 55,202 0.016,589 Canadian Apartment Properties REIT CAD 149,324 0.043,586 Canadian Real Estate Investment Trust CAD 111,032 0.038,769 Chartwell Retirement Residences CAD 91,704 0.028,039 Cominar Real Estate Investment Trust CAD 68,982 0.025,367 Dream Office Real Estate Investment Trust CAD 70,833 0.026,750 First Capital Realty CAD 90,041 0.021,902 Granite Real Estate Investment CAD 65,875 0.02

13,668 H&R Real Estate Investment Trust CAD 203,184 0.050 International Petroleum SEK 0 0.00

364 lululemon Athletica USD 19,054 0.0010,327 Pure Industrial Real Estate Trust CAD 47,967 0.0114,592 RioCan Real Estate Investment Trust CAD 237,124 0.06

4,902 Smart Real Estate Investment Trust CAD 106,304 0.02860 Waste Connections USD 48,571 0.01

1,537,107 0.37






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile


81,102 0.02Denmark


1,839 Carlsberg – B – DKK 172,007 0.041,796 Chr Hansen Holding DKK 114,396 0.032,025 Coloplast – B – DKK 148,127 0.03

13,910 Danske Bank DKK 468,472 0.112,774 DONG Energy DKK 109,657 0.033,582 DSV DKK 192,720 0.051,081 Genmab DKK 201,922 0.051,562 H Lundbeck DKK 76,784 0.022,209 ISS DKK 75,966 0.02

31,695 Novo Nordisk – B – DKK 1,188,516 0.283,952 Novozymes – B – DKK 151,421 0.041,907 Pandora DKK 155,793 0.04

19,507 TDC DKK 99,333 0.02558 Tryg DKK 10,684 0.00

4,177 Vestas Wind Systems DKK 337,655 0.082,704 William Demant Holding DKK 61,291 0.01

3,848,940 0.92Finland

1,796 Elisa EUR 60,925 0.016,899 Fortum EUR 94,723 0.026,362 Kone – B – EUR 283,391 0.072,403 Metso EUR 72,954 0.021,887 Neste EUR 65,081 0.02

104,409 Nokia EUR 559,109 0.132,610 Nokian Renkaat EUR 94,578 0.021,863 Orion – B – EUR 104,153 0.038,361 Sampo – A – EUR 375,143 0.098,513 Stora Enso – R – EUR 96,285 0.02

10,063 UPM-Kymmene EUR 251,179 0.062,726 Wartsila EUR 141,082 0.03

2,198,603 0.52France


6,910 Air Liquide EUR 747,705 0.1810,371 Airbus EUR 746,696 0.18

3,472 Alstom EUR 106,291 0.031,159 Arkema EUR 108,268 0.031,852 Atos EUR 227,631 0.05

33,539 AXA EUR 803,252 0.1920,221 BNP Paribas EUR 1,275,108 0.3010,331 Bollore EUR 41,126 0.01

4,015 Bouygues EUR 148,229 0.044,998 Bureau Veritas EUR 96,843 0.022,649 Capgemini EUR 239,704 0.06

10,130 Carrefour EUR 224,376 0.051,509 Casino Guichard Perrachon EUR 78,266 0.029,422 Cie de Saint-Gobain EUR 440,782 0.103,225 Cie Generale des Etablissements Michelin EUR 375,406 0.091,756 CNP Assurances EUR 34,510 0.01

18,991 Credit Agricole EUR 267,490 0.0610,156 Danone EUR 668,385 0.16

52 Dassault Aviation EUR 63,821 0.021,959 Dassault Systemes EUR 153,781 0.043,896 Edenred EUR 88,940 0.021,386 Eiffage EUR 110,246 0.039,140 Electricite de France EUR 86,662 0.02

29,954 Engie EUR 395,840 0.093,912 Essilor International EUR 435,849 0.10

389 Eurazeo EUR 25,554 0.014,018 Eutelsat Communications EUR 89,855 0.021,958 Fonciere Des Regions EUR 159,013 0.042,504 Gecina EUR 343,961 0.089,852 Groupe Eurotunnel EUR 91,999 0.02

589 Hermes International EUR 254,807 0.061,822 ICADE EUR 133,913 0.03

543 Iliad EUR 112,407 0.03677 Imerys EUR 51,575 0.01

1,017 Ingenico Group EUR 80,836 0.02850 Ipsen EUR 101,827 0.02

1,576 JCDecaux EUR 45,256 0.01


258






Currency Market

Value

% of

Net

Assets


1,302 Kering EUR 388,366 0.0912,966 Klepierre EUR 465,297 0.11

1,411 Lagardere EUR 39,018 0.014,460 Legrand EUR 273,149 0.074,506 L’Oreal EUR 821,973 0.204,867 LVMH Moet Hennessy Louis Vuitton EUR 1,062,428 0.25

19,330 Natixis EUR 113,603 0.0337,615 Orange EUR 522,470 0.12

4,003 Pernod Ricard EUR 469,408 0.119,556 Peugeot EUR 166,895 0.043,702 Publicis Groupe EUR 241,798 0.06

505 Remy Cointreau EUR 51,631 0.013,262 Renault EUR 258,510 0.065,709 Rexel EUR 81,783 0.025,596 Safran EUR 448,994 0.11

21,097 Sanofi EUR 1,767,051 0.429,669 Schneider Electric EUR 650,460 0.153,756 SCOR EUR 130,378 0.03


13,125 Societe Generale EUR 618,308 0.151,491 Sodexo EUR 168,755 0.044,919 Suez EUR 79,767 0.021,996 Thales EUR 188,076 0.04

42,307 TOTAL EUR 1,831,243 0.445,702 Unibail-Rodamco EUR 1,258,077 0.30

495 Unibail-Rodamco (traded in Netherlands) EUR 109,171 0.033,935 Valeo EUR 232,119 0.069,835 Veolia Environnement EUR 181,954 0.048,619 Vinci EUR 644,073 0.15

17,575 Vivendi EUR 342,536 0.08342 Wendel EUR 44,365 0.01

4,201 Zodiac Aerospace EUR 99,764 0.02

23,562,615 5.61Germany

3,202 adidas EUR 537,200 0.138,258 Allianz EUR 1,423,610 0.346,158 alstria office REIT EUR 72,881 0.021,097 Axel Springer EUR 57,680 0.01

16,101 BASF EUR 1,305,626 0.3115,002 Bayer EUR 1,698,267 0.40

6,242 Bayerische Motoren Werke EUR 507,389 0.121,021 Bayerische Motoren Werke – Pref – EUR 73,716 0.021,734 Beiersdorf EUR 159,632 0.042,847 Brenntag EUR 144,304 0.03

20,070 Commerzbank EUR 209,333 0.051,881 Continental EUR 355,341 0.082,027 Covestro EUR 128,117 0.03

16,796 Daimler EUR 1,064,382 0.2535,146 Deutsche Bank EUR 545,641 0.13

3,639 Deutsche Boerse EUR 336,293 0.082,369 Deutsche Euroshop EUR 81,756 0.024,980 Deutsche Lufthansa EUR 99,225 0.02

16,914 Deutsche Post EUR 555,131 0.1358,570 Deutsche Telekom EUR 920,718 0.2221,980 Deutsche Wohnen EUR 736,111 0.1841,388 E.ON EUR 341,372 0.08

2,082 Evonik Industries EUR 58,266 0.01775 Fraport Frankfurt Airport Services

Worldwide EUR 59,881 0.017,067 Fresenius & Co EUR 530,449 0.133,990 Fresenius Medical Care & Co EUR 335,818 0.081,465 FUCHS PETROLUB – Pref – EUR 69,828 0.023,448 GEA Group EUR 123,542 0.03

929 Hannover Rueck EUR 97,526 0.022,806 HeidelbergCement EUR 237,515 0.061,819 Henkel & Co EUR 192,601 0.053,402 Henkel & Co – Pref – EUR 409,960 0.10


21,699 Infineon Technologies EUR 401,105 0.102,590 Innogy EUR 89,253 0.024,323 K+S EUR 96,930 0.021,929 LANXESS EUR 127,860 0.032,625 LEG Immobilien EUR 216,092 0.053,158 Linde EUR 523,632 0.12

665 MAN EUR 62,383 0.01






Currency Market

Value

% of

Net

Assets


2,115 Merck EUR 223,645 0.054,027 METRO EUR 119,005 0.033,036 Muenchener


1,579 OSRAM Licht EUR 110,143 0.032,316 Porsche Automobil Holding – Pref – EUR 113,905 0.034,330 ProSiebenSat.1 Media EUR 158,642 0.048,092 RWE EUR 141,159 0.03

17,807 SAP EUR 1,628,470 0.391,261 Schaeffler – Pref – EUR 15,820 0.00

13,463 Siemens EUR 1,620,281 0.392,599 Symrise EUR 161,193 0.045,772 TAG Immobilien EUR 79,450 0.027,803 Telefonica Deutschland Holding EUR 34,122 0.016,935 thyssenkrupp EUR 172,520 0.049,945 TUI GBP 126,737 0.032,171 United Internet EUR 104,542 0.03

427 Volkswagen EUR 57,918 0.013,499 Volkswagen – Pref – EUR 466,574 0.11

29,042 Vonovia EUR 1,009,651 0.241,992 Zalando EUR 79,701 0.02

22,065,815 5.25Hong Kong

31,556 Hang Lung Group HKD 114,477 0.03105,240 Hang Lung Properties HKD 230,489 0.05

52,495 Henderson Land Development HKD 256,767 0.0656,140 Hongkong Land Holdings USD 362,273 0.0929,211 Hysan Development HKD 122,208 0.03


53,283 Swire Properties HKD 154,098 0.0456,971 Wharf Holdings HKD 413,994 0.1039,552 Wheelock & Co HKD 261,645 0.06

2,803,455 0.67Ireland

2,083 Accenture – A – USD 225,924 0.051,991 AerCap Holdings USD 81,052 0.02

276 Alkermes USD 14,014 0.00361 Allegion USD 25,685 0.01


1,674 DCC GBP 133,301 0.03118 Jazz Pharmaceuticals USD 16,070 0.00

2,834 Kerry Group – A – EUR 213,482 0.054,685 Medtronic USD 364,540 0.091,640 Paddy Power Betfair EUR 153,292 0.04

486 Perrigo USD 32,146 0.013,425 Ryanair Holdings EUR 61,506 0.01

1,922,256 0.46Italy


145,508 Enel EUR 683,014 0.1645,512 Eni EUR 598,934 0.14

2,315 Ferrari EUR 173,994 0.04226,989 Intesa Sanpaolo EUR 630,121 0.15

21,062 Intesa Sanpaolo – RSP – EUR 54,678 0.012,591 Luxottica Group EUR 131,235 0.037,787 Mediobanca EUR 67,278 0.029,850 Poste Italiane EUR 59,051 0.024,665 Prysmian EUR 120,134 0.032,362 Recordati EUR 83,891 0.02

11,476 Saipem EUR 37,112 0.0142,901 Snam EUR 163,710 0.04


27,382 Terna Rete Elettrica Nazionale EUR 129,409 0.0335,810 UniCredit EUR 585,485 0.1427,074 UnipolSai Assicurazioni EUR 51,739 0.01

4,325,546 1.03Japan




259






Currency Market

Value

% of

Net

Assets


29,330 Daiwa House Industry JPY 878,387 0.2168 Daiwa House REIT Investment JPY 141,435 0.0318 Daiwa Office Investment JPY 79,715 0.0222 Frontier Real Estate Investment JPY 80,202 0.02

122 GLP J-REIT JPY 115,147 0.0326,248 Hulic JPY 234,926 0.06

44 Hulic REIT JPY 59,713 0.0115 Industrial & Infrastructure Fund


52 Japan Excellent JPY 51,202 0.01167 Japan Hotel REIT Investment JPY 103,501 0.02

44 Japan Logistics Fund JPY 80,611 0.0241 Japan Prime Realty Investment JPY 125,720 0.0361 Japan Real Estate Investment JPY 267,391 0.0683 Japan Rental Housing Investments JPY 53,442 0.01

120 Japan Retail Fund Investment JPY 194,712 0.0520 Kenedix Office Investment JPY 92,838 0.0221 Kenedix Retail REIT JPY 39,301 0.0153 LaSalle Logiport REIT JPY 46,938 0.01


70 Mori Hills REIT Investment JPY 75,648 0.0241 Mori Trust Sogo REIT JPY 57,677 0.0122 Nippon Accommodations Fund JPY 80,935 0.0263 Nippon Building Fund JPY 280,294 0.0773 Nippon Prologis REIT JPY 136,225 0.03


118 Orix JREIT JPY 152,640 0.0451 Premier Investment JPY 43,844 0.01



6,983,286 1.66Jersey

1,723 Randgold Resources GBP 133,534 0.03

133,534 0.03Jordan






779,119 0.19Mexico133,475 Fibra Uno Administracion MXN 222,547 0.05

5,222 Fresnillo GBP 88,379 0.02


36,218 Aegon EUR 161,933 0.044,752 Akzo Nobel EUR 361,583 0.097,989 Altice – A – EUR 161,369 0.041,920 Altice – B – EUR 38,789 0.016,679 ASML Holding EUR 762,055 0.182,057 Boskalis Westminster EUR 58,480 0.01

156 Core Laboratories USD 13,863 0.002,256 EXOR EUR 106,899 0.031,189 Gemalto EUR 62,478 0.014,309 Heineken EUR 366,854 0.091,974 Heineken Holding EUR 158,438 0.04

69,389 ING Groep EUR 1,047,770 0.2524,157 Koninklijke Ahold Delhaize EUR 404,395 0.10

2,913 Koninklijke DSM EUR 185,400 0.0453,197 Koninklijke KPN EUR 149,006 0.0416,632 Koninklijke Philips EUR 517,162 0.12

1,062 Koninklijke Vopak EUR 43,135 0.015,153 NN Group EUR 160,349 0.046,190 NXP Semiconductors USD 594,002 0.143,454 QIAGEN EUR 100,589 0.021,583 Randstad Holding EUR 80,946 0.02






Currency Market

Value

% of

Net

Assets


79,234 Royal Dutch Shell – A – GBP 1,836,350 0.4467,008 Royal Dutch Shell – B – GBP 1,573,973 0.37

1,656 Wereldhave EUR 71,081 0.025,692 Wolters Kluwer EUR 210,975 0.05

9,227,874 2.20Norway




21,261 Statoil NOK 307,987 0.0713,161 Telenor NOK 190,793 0.05

3,171 Yara International NOK 104,072 0.02

1,307,503 0.31Philippines461,699 SM Prime Holdings PHP 264,735 0.06



291,272 0.07Romania


115,453 0.03Singapore114,178 Ascendas Real Estate Investment Trust SGD 189,767 0.04122,184 CapitaLand SGD 272,321 0.06102,035 CapitaLand Commercial Trust SGD 107,859 0.03128,367 CapitaLand Mall Trust SGD 161,443 0.04

22,942 City Developments SGD 156,759 0.04127,834 Global Logistic Properties SGD 232,816 0.06

63,357 Mapletree Commercial Trust SGD 64,351 0.01111,480 Suntec Real Estate Investment Trust SGD 132,751 0.03

1,318,067 0.31South Africa110,668 Growthpoint Properties ZAR 181,286 0.04

10,967 Hyprop Investments ZAR 85,678 0.0213,988 Investec GBP 91,361 0.02

8,326 Mediclinic International GBP 70,313 0.027,543 Mondi GBP 173,010 0.04


873,035 0.21Spain



Servicios – Rights – EUR 3,499 0.001,209 Aena EUR 206,617 0.057,851 Amadeus IT Group EUR 410,984 0.10

115,812 Banco Bilbao Vizcaya Argentaria EUR 841,376 0.20100,593 Banco de Sabadell EUR 178,955 0.04263,798 Banco Santander EUR 1,527,918 0.36

24,425 Bankia EUR 103,366 0.029,901 Bankinter EUR 79,849 0.02

67,665 CaixaBank EUR 282,839 0.079,127 Distribuidora Internacional de

Alimentacion EUR 49,749 0.013,447 Enagas EUR 84,624 0.024,562 Endesa EUR 92,015 0.029,940 Ferrovial EUR 193,186 0.055,385 Gamesa Technologica EUR 100,669 0.025,223 Gas Natural SDG EUR 107,024 0.034,758 Grifols EUR 116,018 0.03

104,014 Iberdrola EUR 721,129 0.1719,515 Industria de Diseno Textil EUR 655,904 0.1611,226 Inmobiliaria Colonial EUR 85,628 0.0210,699 Mapfre EUR 32,719 0.0114,309 Merlin Properties Socimi EUR 158,263 0.04

7,301 Red Electrica EUR 133,564 0.03


260






Currency Market

Value

% of

Net

Assets


22,413 Repsol EUR 300,339 0.0722,413 Repsol – Rights – EUR 8,965 0.0080,538 Telefonica EUR 727,904 0.17

7,584,204 1.80Sweden

6,704 Alfa Laval SEK 120,141 0.0318,897 Assa Abloy – B – SEK 363,608 0.0912,661 Atlas Copco – A – SEK 425,102 0.10

7,357 Atlas Copco – B – SEK 222,625 0.05332 Autoliv USD 31,970 0.01

3,943 Boliden SEK 94,220 0.0211,304 Castellum SEK 145,351 0.03

4,864 Electrolux – B – SEK 139,604 0.039,763 Essity – B – SEK 233,928 0.066,176 Fabege SEK 104,000 0.023,982 Fastighets Balder – B – SEK 84,433 0.021,984 Getinge – B – SEK 34,009 0.01

17,901 Hennes & Mauritz – B – SEK 390,581 0.094,109 Hexagon – B – SEK 171,047 0.044,698 Hufvudstaden – A – SEK 68,219 0.026,338 Husqvarna – B – SEK 55,140 0.01

903 ICA Gruppen SEK 29,453 0.011,834 Industrivarden – C – SEK 38,512 0.017,896 Investor – B – SEK 333,249 0.083,248 Kinnevik – B – SEK 87,081 0.02



3,724 Securitas – B – SEK 54,975 0.0128,640 Skandinaviska Enskilda Banken – A – SEK 303,366 0.07

6,985 Skanska – B – SEK 145,153 0.037,111 SKF – B – SEK 126,176 0.03

28,793 Svenska Handelsbanken – A – SEK 360,955 0.0914,862 Swedbank – A – SEK 317,179 0.08

3,005 Swedish Match SEK 92,668 0.027,660 Tele2 – B – SEK 70,229 0.02




866 Baloise Holding CHF 117,549 0.0320 Barry Callebaut CHF 23,824 0.0123 Chocoladefabriken Lindt & Spruengli CHF 117,533 0.03

2 Chocoladefabriken Lindt & Spruengli –REG – CHF 102,456 0.02

1,459 Chubb USD 185,955 0.049,339 Cie Financiere Richemont CHF 675,455 0.164,124 Coca-Cola GBP 106,042 0.03

44,239 Credit Suisse Group CHF 561,365 0.13502 Dufry CHF 72,195 0.02185 EMS-Chemie Holding CHF 119,780 0.03279 Garmin USD 12,474 0.00683 Geberit CHF 279,494 0.07158 Givaudan CHF 277,353 0.07

221,814 Glencore GBP 725,523 0.173,891 Julius Baer Group CHF 179,724 0.04

795 Kuehne & Nagel International CHF 116,517 0.037,601 LafargeHolcim CHF 382,038 0.091,186 Lonza Group CHF 225,014 0.05

55,321 Nestle CHF 4,226,638 1.0139,950 Novartis CHF 2,918,751 0.69


1,662 PSP Swiss Property CHF 136,358 0.0312,569 Roche Holding CHF 2,810,111 0.67


97 SGS CHF 207,013 0.0535 Sika CHF 196,269 0.05








Currency Market

Value

% of

Net

Assets




488 Swisscom CHF 206,821 0.051,051 TE Connectivity USD 72,474 0.02

65,450 UBS Group CHF 973,136 0.23616 Vifor Pharma CHF 59,617 0.01454 Weatherford International USD 1,542 0.00



19,981 3i Group GBP 205,369 0.0516,757 Aberdeen Asset Management GBP 57,635 0.01

3,841 Admiral Group GBP 87,624 0.0221,889 Anglo American GBP 255,272 0.06

812 Aon USD 94,666 0.0210,254 Ashtead Group GBP 185,558 0.04

5,540 Associated British Foods GBP 185,236 0.0422,636 AstraZeneca GBP 1,323,800 0.3218,183 Auto Trader Group GBP 78,691 0.0277,149 Aviva GBP 462,160 0.11

5,710 Babcock International Group GBP 57,260 0.01303,517 Barclays GBP 700,845 0.17

20,936 Barratt Developments GBP 134,358 0.032,386 Berkeley Group Holdings GBP 87,686 0.02

349,939 BP GBP 1,764,729 0.4233,354 British American Tobacco GBP 1,988,218 0.4763,081 British Land GBP 435,003 0.10

159,626 BT Group GBP 535,839 0.136,893 Bunzl GBP 179,623 0.048,275 Burberry Group GBP 156,543 0.04

15,235 Capita GBP 119,983 0.0322,865 Capital & Counties Properties GBP 76,219 0.0298,197 Centrica GBP 223,892 0.0520,976 CNH Industrial EUR 207,978 0.0554,592 Cobham GBP 80,576 0.02



5,265 Derwent London GBP 159,135 0.0445,328 Diageo GBP 1,171,079 0.2824,976 Direct Line Insurance Group GBP 101,091 0.0220,120 Dixons Carphone GBP 64,984 0.02

3,657 easyJet GBP 56,603 0.0117,783 Experian GBP 318,988 0.0816,232 Fiat Chrysler Automobiles EUR 149,822 0.0429,254 G4S GBP 108,745 0.0335,070 GKN GBP 130,206 0.0386,405 GlaxoSmithKline GBP 1,609,410 0.3814,714 Great Portland Estates GBP 100,040 0.0249,330 Hammerson GBP 322,761 0.08


1,540 IHS Markit USD 59,458 0.016,195 IMI GBP 84,316 0.02

17,342 Imperial Brands GBP 681,097 0.169,807 Inmarsat GBP 85,948 0.022,732 InterContinental Hotels Group GBP 132,743 0.03

14,369 International Consolidated Airlines Group EUR 99,850 0.022,631 Intertek Group GBP 126,366 0.03




1,222 Liberty Global – A – USD 34,417 0.011,808 Liberty Global – C – USD 49,428 0.01

1,278,440 Lloyds Banking Group GBP 963,137 0.235,641 London Stock Exchange Group GBP 234,213 0.06

21,873 Marks & Spencer Group GBP 83,027 0.02


261






Currency Market

Value

% of

Net

Assets







44,818 Prudential GBP 898,855 0.2111,898 Reckitt Benckiser Group GBP 1,054,794 0.2518,212 RELX (traded in Netherlands) EUR 327,824 0.0820,372 RELX (traded in United Kingdom) GBP 385,150 0.0922,138 Rio Tinto GBP 817,389 0.1930,499 Rolls-Royce Holdings GBP 309,489 0.0766,875 Royal Bank of Scotland Group GBP 188,274 0.0516,969 Royal Mail GBP 81,398 0.0214,258 RSA Insurance Group GBP 99,945 0.0220,367 Sage Group GBP 159,586 0.04


4,983 Severn Trent GBP 123,828 0.037,977 Shaftesbury GBP 88,345 0.02

18,123 Sky GBP 205,166 0.0514,557 Smith & Nephew GBP 219,667 0.05

8,122 Smiths Group GBP 147,730 0.0419,076 SSE GBP 315,665 0.08

9,565 St James’s Place GBP 128,755 0.0361,930 Standard Chartered GBP 548,164 0.1340,648 Standard Life GBP 184,756 0.04


1,893 TechnipFMC USD 45,156 0.01135,470 Tesco GBP 260,431 0.06


52,737 Tritax Big Box REIT GBP 87,809 0.0222,961 Unilever GBP 1,086,548 0.2629,444 Unilever – CVA – EUR 1,422,712 0.3410,383 UNITE Group GBP 76,742 0.0214,006 United Utilities Group GBP 138,371 0.03

476,220 Vodafone Group GBP 1,180,984 0.283,301 Weir Group GBP 65,085 0.023,810 Whitbread GBP 172,152 0.04



1,996 3M USD 364,394 0.095,475 Abbott Laboratories USD 233,346 0.065,422 AbbVie USD 344,708 0.083,923 Acadia Realty Trust USD 95,614 0.022,275 Activision Blizzard USD 114,837 0.03

147 Acuity Brands USD 26,123 0.011,643 Adobe Systems USD 203,710 0.05

281 Advance Auto Parts USD 28,743 0.013,435 Advanced Micro Devices USD 37,586 0.012,828 AES USD 27,543 0.011,257 Aetna USD 167,326 0.04

208 Affiliated Managers Group USD 30,258 0.011,154 Aflac USD 78,627 0.02

193 AGCO USD 11,426 0.001,233 Agilent Technologies USD 64,102 0.021,443 AGNC Investment USD 26,945 0.011,499 Agree Realty USD 60,287 0.01

739 Air Products & Chemicals USD 92,651 0.02753 Akamai Technologies USD 32,900 0.01482 Albemarle USD 44,577 0.01








Currency Market

Value

% of

Net

Assets


1,058 Allergan USD 225,593 0.05108 Alliance Data Systems USD 24,375 0.01974 Alliant Energy USD 34,294 0.01

1,322 Allstate USD 102,526 0.021,178 Ally Financial USD 21,587 0.01

980 Alphabet – A – USD 798,710 0.191,030 Alphabet – C – USD 820,726 0.206,494 Altria Group USD 424,005 0.101,310 Amazon.com USD 1,111,741 0.26

25 AMERCO USD 8,005 0.00774 Ameren USD 37,110 0.01717 American Airlines Group USD 31,654 0.01

1,609 American Assets Trust USD 55,559 0.016,216 American Campus Communities USD 257,790 0.061,699 American Electric Power USD 103,488 0.022,488 American Express USD 183,732 0.04

282 American Financial Group USD 24,528 0.0111,104 American Homes 4 Rent – A – USD 219,742 0.05

3,225 American International Group USD 176,775 0.041,317 American Tower USD 152,801 0.04

573 American Water Works USD 39,182 0.01494 Ameriprise Financial USD 55,136 0.01387 AmerisourceBergen USD 32,083 0.01768 AMETEK USD 40,806 0.01

2,341 Amgen USD 353,511 0.081,172 Amphenol – A – USD 75,870 0.021,946 Anadarko Petroleum USD 77,348 0.021,237 Analog Devices USD 84,389 0.022,200 Annaly Capital Management USD 23,239 0.01

377 Ansys USD 40,240 0.01385 Antero Resources USD 7,295 0.00869 Anthem USD 143,311 0.03197 AO Smith USD 9,736 0.00

1,358 Apache USD 57,072 0.017,423 Apartment Investment & Management – A

– USD 279,653 0.0717,033 Apple USD 2,150,751 0.5110,210 Apple Hospitality REIT USD 167,490 0.04

3,286 Applied Materials USD 119,031 0.03990 Aramark USD 35,563 0.01

1,825 Archer-Daniels-Midland USD 66,217 0.021,530 Arconic USD 30,383 0.01


759 Arthur J Gallagher & Co USD 38,106 0.013,957 Ashford Hospitality Trust USD 21,091 0.01


395 Atmos Energy USD 28,700 0.01590 Autodesk USD 52,187 0.01

1,326 Automatic Data Processing USD 119,117 0.03205 AutoNation USD 7,578 0.00120 AutoZone USD 59,810 0.01

6,822 AvalonBay Communities USD 1,149,512 0.27143 Avery Dennison USD 11,092 0.00

69 Avnet USD 2,353 0.00194 Axalta Coating Systems USD 5,442 0.00

1,061 Baker Hughes USD 50,717 0.011,419 Ball USD 52,499 0.01

32,946 Bank of America USD 700,783 0.173,176 Bank of New York Mellon USD 142,073 0.031,372 Baxter International USD 72,848 0.022,648 BB&T USD 105,435 0.03


4,064 Berkshire Hathaway – B – USD 603,449 0.141,220 Best Buy USD 61,327 0.01

704 Biogen USD 167,614 0.04697 BioMarin Pharmaceutical USD 55,472 0.01395 BlackRock USD 146,274 0.03

1,934 Boeing USD 335,399 0.08425 BorgWarner USD 15,773 0.00

7,599 Boston Properties USD 819,671 0.204,533 Boston Scientific USD 110,173 0.038,010 Brandywine Realty Trust USD 123,114 0.035,561 Bristol-Myers Squibb USD 271,666 0.06

14,538 Brixmor Property Group USD 227,911 0.051,360 Broadcom USD 277,918 0.07


262






Currency Market

Value

% of

Net

Assets



942 Brown-Forman – B – USD 40,137 0.01601 Bunge USD 39,286 0.01

1,341 CA USD 40,538 0.011,766 Cabot Oil & Gas USD 38,826 0.01

567 Cadence Design Systems USD 16,663 0.004,487 Camden Property Trust USD 336,435 0.08

862 Campbell Soup USD 39,429 0.011,570 Capital One Financial USD 113,698 0.031,037 Cardinal Health USD 70,817 0.024,029 Care Capital Properties USD 94,329 0.023,231 CareTrust REIT USD 52,524 0.01

832 CarMax USD 45,978 0.013,278 Carnival (traded in United Kingdom) GBP 189,630 0.051,099 Carnival (traded in United States) USD 63,188 0.021,964 Caterpillar USD 185,029 0.049,046 CBL & Associates Properties USD 66,863 0.02

381 CBOE Holdings USD 30,555 0.011,296 CBRE Group – A – USD 41,347 0.011,369 CBS – B – USD 76,537 0.02

543 CDK Global USD 29,540 0.01316 CDW USD 17,308 0.00590 Celanese – A – USD 49,087 0.01

2,590 Celgene USD 294,925 0.07653 Centene USD 45,703 0.01

1,755 CenterPoint Energy USD 42,141 0.011,320 CenturyLink USD 27,633 0.01

755 Cerner USD 43,984 0.01418 CF Industries Holdings USD 10,243 0.00343 CH Robinson Worldwide USD 20,676 0.00

3,923 Charles Schwab USD 147,773 0.04707 Charter Communications – A – USD 208,696 0.05

1,866 Chatham Lodging Trust USD 32,871 0.01418 Cheniere Energy USD 17,860 0.00


55 Chipotle Mexican Grill USD 19,943 0.001,229 Church & Dwight USD 55,901 0.01

755 Cigna USD 110,815 0.03360 Cimarex Energy USD 29,710 0.01598 Cincinnati Financial USD 37,958 0.01367 Cintas USD 40,587 0.01


8,986 Citigroup USD 526,940 0.131,304 Citizens Financial Group USD 40,797 0.01

666 Citrix Systems USD 46,438 0.01341 Clorox USD 39,873 0.01

1,267 CME Group USD 139,110 0.031,201 CMS Energy USD 48,712 0.011,070 Coach USD 44,429 0.01

13,657 Coca-Cola USD 537,038 0.131,768 Cognizant Technology Solutions – A – USD 102,933 0.022,731 Colgate-Palmolive USD 177,515 0.04

754 Colony NorthStar – A – USD 9,315 0.004,929 Colony Starwood Homes USD 148,288 0.046,039 Columbia Property Trust USD 118,497 0.03

15,489 Comcast – A – USD 528,534 0.13379 Comerica USD 24,309 0.01736 CommScope Holding USD 24,550 0.01

1,147 Conagra Brands USD 35,971 0.01557 Concho Resources USD 59,340 0.01

4,323 ConocoPhillips USD 166,633 0.041,138 Consolidated Edison USD 80,619 0.02

576 Constellation Brands – A – USD 97,785 0.02101 Cooper Cos USD 21,157 0.01

2,761 Corning USD 72,742 0.024,331 Corporate Office Properties Trust USD 133,028 0.03

56 CoStar Group USD 12,871 0.001,402 Costco Wholesale USD 196,614 0.052,080 Coty – A – USD 34,212 0.01


1,063 Crown Castle International USD 93,329 0.02287 Crown Holdings USD 15,030 0.00







Currency Market

Value

% of

Net

Assets


443 Cummins USD 62,978 0.023,165 CVS Health USD 223,282 0.054,138 CyrusOne USD 202,260 0.052,271 Danaher USD 168,007 0.04



951 Deere & Co USD 103,032 0.02957 Dell Technologies – V – USD 51,256 0.01828 Delta Air Lines USD 39,006 0.01540 Dentsply Sirona USD 30,689 0.01

1,464 Devon Energy USD 41,036 0.01102 DexCom USD 6,574 0.00142 Diamondback Energy USD 11,040 0.00

3 Dick’s Sporting Goods USD 107 0.007,756 Digital Realty Trust USD 768,047 0.181,376 Discover Financial Services USD 75,020 0.02

379 Discovery Communications – A – USD 8,581 0.00197 Discovery Communications – C – USD 4,365 0.00631 DISH Network – A – USD 34,705 0.01730 Dollar General USD 46,127 0.01916 Dollar Tree USD 56,174 0.01

1,872 Dominion Energy USD 125,793 0.03108 Domino’s Pizza USD 20,023 0.00

6,586 Douglas Emmett USD 220,635 0.05585 Dover USD 41,164 0.01

3,742 Dow Chemical USD 206,915 0.051,353 DR Horton USD 40,998 0.01

698 Dr Pepper Snapple Group USD 55,731 0.01495 DTE Energy USD 45,919 0.01

2,171 Duke Energy USD 159,103 0.0418,136 Duke Realty USD 444,426 0.11

3,788 DuPont Fabros Technology USD 203,142 0.05976 DXC Technology USD 65,659 0.02532 E*TRADE Financial USD 17,726 0.00545 East West Bancorp USD 28,007 0.01

1,147 Easterly Government Properties USD 21,063 0.011,420 EastGroup Properties USD 104,357 0.02

638 Eastman Chemical USD 46,973 0.011,654 Eaton USD 112,841 0.03

112 Eaton Vance USD 4,635 0.003,320 eBay USD 101,634 0.02




3,323 Eli Lilly & Co USD 239,779 0.062,409 Emerson Electric USD 125,945 0.035,377 Empire State Realty Trust – A – USD 97,922 0.02

679 Entergy USD 45,672 0.01247 Envision Healthcare USD 13,573 0.00

1,754 EOG Resources USD 139,185 0.033,354 EPR Properties USD 211,321 0.05

324 EQT USD 16,621 0.00312 Equifax USD 37,583 0.01252 Equinix USD 94,875 0.02

5,766 Equity Commonwealth USD 159,759 0.043,708 Equity LifeStyle Properties USD 280,717 0.07

18,139 Equity Residential USD 1,046,956 0.253,256 Essex Property Trust USD 734,357 0.17


3,190 Exelon USD 100,897 0.02360 Expedia USD 46,983 0.01691 Expeditors International of Washington USD 34,210 0.01

1,876 Express Scripts Holding USD 104,988 0.038,443 Extended Stay America USD 143,315 0.036,283 Extra Space Storage USD 429,710 0.10

13,706 Exxon Mobil USD 970,127 0.23287 F5 Networks USD 32,010 0.01

7,788 Facebook – A – USD 1,030,944 0.25817 Fastenal USD 31,165 0.01

3,652 Federal Realty Investment Trust USD 404,677 0.10777 FedEx USD 148,107 0.04

6,578 FelCor Lodging Trust USD 41,586 0.01


263






Currency Market

Value

% of

Net

Assets


1,185 Fidelity National Information Services USD 88,718 0.022,966 Fifth Third Bancorp USD 67,515 0.025,811 First Industrial Realty Trust USD 145,827 0.03

629 First Republic Bank USD 55,173 0.011,218 FirstEnergy USD 31,140 0.01

600 Fiserv USD 64,353 0.02373 FleetCor Technologies USD 47,130 0.01

2,354 Flex USD 33,668 0.01334 FLIR Systems USD 10,165 0.00126 Flowserve USD 5,132 0.00532 Fluor USD 21,338 0.01560 FMC USD 35,865 0.01

1,058 FNF Group USD 41,603 0.01584 Foot Locker USD 25,228 0.01


629 Fortinet USD 20,636 0.001,327 Fortive USD 73,706 0.02

658 Fortune Brands Home & Security USD 37,640 0.01931 Franklin Resources USD 36,548 0.01


56 Gap USD 1,074 0.00360 Gartner USD 38,996 0.01

29,213 General Electric USD 691,819 0.162,061 General Mills USD 100,087 0.024,973 General Motors USD 152,306 0.04

642 Genuine Parts USD 52,211 0.0132,063 GGP USD 662,312 0.16

4,333 Gilead Sciences USD 268,890 0.062,810 Global Net Lease USD 54,793 0.01

661 Global Payments USD 52,326 0.011,254 Goldman Sachs Group USD 244,016 0.06

622 Goodyear Tire & Rubber USD 19,081 0.003,300 Government Properties Income Trust USD 52,976 0.017,116 Gramercy Property Trust USD 185,362 0.04

955 H&R Block USD 25,889 0.013,084 Halliburton USD 115,491 0.031,342 Hanesbrands USD 27,251 0.01

407 Harley-Davidson USD 19,289 0.00280 Harris USD 26,827 0.01

1,141 Hartford Financial Services Group USD 52,581 0.01319 Hasbro USD 31,165 0.01861 HCA Healthcare USD 65,825 0.02



146 Helmerich & Payne USD 6,951 0.00305 Henry Schein USD 49,013 0.01

1,285 Hersha Hospitality Trust USD 20,848 0.01399 Hershey USD 37,599 0.01

1,223 Hess USD 47,047 0.014,979 Hewlett Packard Enterprise USD 72,422 0.024,855 Highwoods Properties USD 215,879 0.05

779 Hilton Worldwide Holdings USD 42,224 0.01166 HollyFrontier USD 3,991 0.00

1,077 Hologic USD 42,848 0.013,957 Home Depot USD 532,213 0.132,415 Honeywell International USD 282,209 0.07

597 Hormel Foods USD 17,840 0.002,184 Host Hotels & Resorts USD 34,983 0.015,561 HP USD 85,230 0.026,809 Hudson Pacific Properties USD 204,127 0.05


81 Huntington Ingalls Industries USD 13,272 0.00289 IDEX USD 28,606 0.01384 IDEXX Laboratories USD 54,350 0.01

1,044 Illinois Tool Works USD 131,179 0.03558 Illumina USD 84,933 0.02677 Incyte USD 74,793 0.02


15,419 Intel USD 456,136 0.112,077 Intercontinental Exchange USD 120,060 0.032,857 International Business Machines USD 385,371 0.09






Currency Market

Value

% of

Net

Assets


342 International Flavors & Fragrances USD 40,480 0.011,096 International Paper USD 54,401 0.011,727 Interpublic Group of Cos USD 37,243 0.01

708 Intuit USD 82,472 0.02121 Intuitive Surgical USD 99,188 0.02924 Invesco USD 28,514 0.01

3,998 Investors Real Estate Trust USD 21,767 0.011,071 Iron Mountain USD 32,257 0.01

293 Jack Henry & Associates USD 26,728 0.01141 Jacobs Engineering Group USD 6,729 0.00177 JB Hunt Transport Services USD 14,207 0.00312 JM Smucker USD 32,327 0.01

8,973 Johnson & Johnson USD 1,040,792 0.253,559 Johnson Controls International USD 135,316 0.03



2,753 KeyCorp USD 45,229 0.014,500 Kilroy Realty USD 296,491 0.071,054 Kimberly-Clark USD 119,275 0.03

21,607 Kimco Realty USD 347,633 0.085,960 Kinder Morgan USD 100,119 0.023,706 Kite Realty Group Trust USD 61,505 0.01

668 KLA-Tencor USD 53,618 0.01686 Kohl’s USD 23,249 0.01

1,877 Kraft Heinz USD 140,917 0.032,637 Kroger USD 53,908 0.011,047 L Brands USD 49,462 0.01

180 L3 Technologies USD 26,376 0.013,636 La Quinta Holdings USD 47,088 0.01

439 Laboratory of America Holdings USD 59,379 0.01481 Lam Research USD 59,651 0.01

1,102 Las Vegas Sands USD 61,722 0.01317 Lear USD 39,454 0.01400 Leggett & Platt USD 18,426 0.00540 Leidos Holdings USD 24,496 0.01500 Lennar – A – USD 23,383 0.01146 Lennox International USD 23,545 0.01629 Leucadia National USD 14,435 0.00835 Level 3 Communications USD 43,432 0.01

9,956 Lexington Realty Trust USD 86,504 0.02467 Liberty Broadband – C – USD 35,523 0.01

1,840 Liberty Interactive QVC Group – A – USD 39,600 0.01265 Liberty Media Corp-Liberty SiriusXM – A




2,727 Lowe’s Cos USD 185,378 0.041,952 LTC Properties USD 87,937 0.02

968 LyondellBasell Industries – A – USD 71,591 0.02513 M&T Bank USD 72,915 0.02


474 Macquarie Infrastructure USD 32,574 0.01355 Macy’s USD 7,233 0.00404 Mallinckrodt USD 15,879 0.00371 ManpowerGroup USD 36,322 0.01

1,691 Marathon Oil USD 17,571 0.001,576 Marathon Petroleum USD 72,328 0.02

38 Markel USD 32,740 0.011,137 Marriott International – A – USD 100,031 0.021,940 Marsh & McLennan Cos USD 132,623 0.03

259 Martin Marietta Materials USD 50,540 0.011,246 Masco USD 41,755 0.013,252 Mastercard – A – USD 346,274 0.081,147 Mattel USD 21,644 0.01

746 Maxim Integrated Products USD 29,375 0.01230 McCormick & Co USD 19,629 0.00

2,619 McDonald’s USD 351,669 0.08655 McKesson USD 94,536 0.02


264






Currency Market

Value

% of

Net

Assets




100 Mettler-Toledo International USD 51,655 0.012,287 MGM Growth Properties – A – USD 58,522 0.011,940 MGM Resorts International USD 53,220 0.01

571 Microchip Technology USD 38,610 0.013,743 Micron Technology USD 97,980 0.02

23,766 Microsoft USD 1,436,317 0.345,479 Mid-America Apartment Communities USD 506,261 0.12

352 Middleby USD 37,527 0.01176 Mohawk Industries USD 37,358 0.01716 Molson Coors Brewing – B – USD 54,210 0.01

4,756 Mondelez International – A – USD 180,107 0.047,209 Monogram Residential Trust REIT USD 61,376 0.011,311 Monsanto USD 136,007 0.031,505 Monster Beverage USD 65,540 0.02

531 Moody’s USD 56,643 0.014,600 Morgan Stanley USD 179,720 0.041,426 Mosaic USD 28,545 0.01

570 Motorola Solutions USD 43,366 0.01499 MSCI USD 45,074 0.01244 Murphy Oil USD 5,482 0.00

1,092 Mylan USD 37,154 0.01320 Nasdaq USD 20,066 0.00

1,921 National Health Investors USD 133,363 0.031,312 National Oilwell Varco USD 37,900 0.017,325 National Retail Properties USD 251,128 0.061,983 National Storage Affiliates Trust USD 40,176 0.011,151 Navient USD 16,798 0.001,241 NetApp USD 43,562 0.011,431 Netflix USD 187,485 0.04

662 New York Community Bancorp USD 7,622 0.007,515 New York REIT USD 56,929 0.011,368 Newell Brands USD 64,297 0.02

852 Newfield Exploration USD 21,254 0.011,443 Newmont Mining USD 40,993 0.011,664 News – A – USD 19,990 0.001,460 NextEra Energy USD 179,408 0.04

817 Nielsen Holdings USD 27,690 0.014,696 NIKE – B – USD 242,943 0.061,225 NiSource USD 27,242 0.011,843 Noble Energy USD 45,736 0.01

26 Nordstrom USD 1,089 0.001,009 Norfolk Southern USD 107,618 0.03

657 Northern Trust USD 55,968 0.01624 Northrop Grumman USD 140,417 0.03

3,006 NorthStar Realty Europe USD 33,423 0.01257 Norwegian Cruise Line Holdings USD 12,230 0.00604 Nuance Communications USD 9,221 0.00

1,273 Nucor USD 64,608 0.021,790 NVIDIA USD 226,824 0.05

20 NVR USD 42,607 0.012,765 Occidental Petroleum USD 145,143 0.03

612 OGE Energy USD 18,665 0.009,440 Omega Healthcare Investors USD 273,286 0.07

592 Omnicom Group USD 43,011 0.01428 ONEOK USD 19,562 0.00

9,734 Oracle USD 427,910 0.10359 O’Reilly Automotive USD 68,867 0.02

1,140 PACCAR USD 66,034 0.02186 Packaging of America USD 18,185 0.00384 Palo Alto Networks USD 45,094 0.01

9,619 Paramount Group USD 134,935 0.03435 Parker-Hannifin USD 60,993 0.01

1,559 Parkway USD 31,289 0.011,025 Parsley Energy – A – USD 24,938 0.01

229 Pattersons Cos USD 9,409 0.001,237 Paychex USD 61,745 0.013,558 PayPal Holdings USD 167,411 0.043,140 Pennsylvania Real Estate Investment Trust USD 31,165 0.01

721 People’s United Financial USD 11,157 0.004,779 PepsiCo USD 483,888 0.12

19,476 Pfizer USD 573,596 0.141,751 PG&E USD 101,912 0.024,949 Philip Morris International USD 509,586 0.121,643 Phillips 66 USD 119,095 0.03






Currency Market

Value

% of

Net

Assets



477 Pinnacle West Capital USD 35,612 0.01613 Pioneer Natural Resources USD 85,711 0.02327 Plains GP Holdings – A – USD 7,492 0.00

1,658 PNC Financial Services Group USD 181,528 0.0487 Polaris Industries USD 7,018 0.00

784 PPG Industries USD 75,562 0.022,582 PPL USD 87,528 0.02

989 Praxair USD 114,909 0.03164 Priceline Group USD 268,953 0.06

1,234 Principal Financial Group USD 69,323 0.028,392 Procter & Gamble USD 641,273 0.151,872 Progressive USD 72,376 0.02

26,257 Prologis USD 1,349,991 0.321,580 Prudential Financial USD 149,822 0.04

851 PS Business Parks USD 98,787 0.021,421 Public Service Enterprise Group USD 53,597 0.017,543 Public Storage USD 1,379,060 0.33

319 PulteGroup USD 6,863 0.00217 PVH USD 21,814 0.01546 Qorvo USD 30,292 0.01


401 Quest Diagnostics USD 39,093 0.01385 Quintiles IMS Holdings USD 30,188 0.01241 Ralph Lauren USD 15,563 0.00

3,987 Ramco-Gershenson Properties Trust USD 45,089 0.01796 Range Resources USD 16,172 0.00325 Raymond James Financial USD 22,877 0.01869 Raytheon USD 123,010 0.03



5,435 Regions Financial USD 69,769 0.02101 Reinsurance Group of America USD 11,384 0.00599 Republic Services USD 33,447 0.01319 ResMed USD 21,763 0.01


3,194 Rexford Industrial Realty USD 76,840 0.022,762 Reynolds American USD 157,481 0.046,021 RLJ Lodging Trust USD 104,897 0.03

705 Robert Half International USD 29,620 0.01420 Rockwell Automation USD 59,626 0.01728 Rockwell Collins USD 67,078 0.02398 Roper Technologies USD 80,800 0.02

1,541 Ross Stores USD 77,975 0.02442 Royal Caribbean Cruises USD 42,340 0.01896 S&P Global USD 114,665 0.03


2,033 Salesforce.com USD 154,352 0.04314 SBA Communications USD 37,177 0.01583 SCANA USD 34,225 0.01

4,421 Schlumberger USD 255,211 0.06157 Scripps Networks Interactive – A – USD 9,413 0.00

1,281 Seagate Technology USD 43,517 0.01846 Sealed Air USD 33,198 0.01



10,498 Senior Housing Properties Trust USD 188,141 0.04208 Sensata Technologies Holding USD 7,793 0.00

1,222 Seritage Growth Properties – A – USD 44,944 0.01580 ServiceNow USD 53,948 0.01239 Sherwin-Williams USD 73,697 0.02

15,636 Shire GBP 754,690 0.18110 Signature Bank USD 13,845 0.00

15,271 Simon Property Group USD 2,165,876 0.528,510 Sirius XM Holdings USD 40,813 0.01




265






Currency Market

Value

% of

Net

Assets






4,920 Starbucks USD 251,508 0.061,247 State Street USD 98,108 0.02

917 Steel Dynamics USD 28,781 0.01128 Stericycle USD 8,596 0.00

7,756 Store Capital USD 152,656 0.041,104 Stryker USD 134,361 0.035,518 Summit Hotel Properties USD 90,223 0.023,462 Sun Communities USD 266,156 0.061,440 SunTrust Banks USD 71,633 0.02

198 SVB Financial Group USD 30,542 0.011,568 Symantec USD 38,843 0.012,898 Synchrony Financial USD 75,758 0.02

364 Synopsys USD 23,245 0.011,452 Sysco USD 64,060 0.02

717 T Rowe Price Group USD 46,638 0.014,760 Tanger Factory Outlet Centers USD 108,429 0.031,020 Targa Resources USD 40,417 0.011,896 Target USD 86,918 0.022,301 Taubman Centers USD 120,152 0.03

523 TD Ameritrade Holding USD 19,703 0.0079 Teleflex USD 14,314 0.00

2,191 Terreno Realty USD 64,649 0.02389 Tesla USD 123,487 0.03459 Tesoro USD 37,656 0.01

3,355 Texas Instruments USD 226,276 0.051,238 Thermo Fisher Scientific USD 189,455 0.053,144 Tier REIT USD 50,938 0.01

541 Tiffany & Co USD 44,513 0.012,554 Time Warner USD 224,805 0.051,983 TJX Cos USD 125,476 0.03

809 T-Mobile USD 42,982 0.01137 Toll Brothers USD 4,734 0.00213 Torchmark USD 14,299 0.00707 Total System Services USD 36,102 0.01573 Tractor Supply USD 27,216 0.01130 TransDigm Group USD 30,606 0.01

1,049 Travelers Cos USD 116,394 0.03984 Trimble Navigation USD 30,762 0.01339 TripAdvisor USD 11,340 0.00

3,164 Twenty-First Century Fox – A – USD 78,629 0.021,885 Twenty-First Century Fox – B – USD 46,051 0.012,409 Twitter USD 37,750 0.01

718 Tyson Foods – A – USD 39,436 0.0113,316 UDR USD 454,986 0.11

487 UGI USD 20,665 0.00159 Ulta Salon Cosmetics & Fragrance USD 40,025 0.01616 Under Armour – A – USD 11,746 0.00270 Under Armour – C – USD 4,777 0.00

2,525 Union Pacific USD 241,128 0.0668 United Continental Holdings USD 4,508 0.00

2,442 United Parcel Service – B – USD 236,830 0.06467 United Rentals USD 46,120 0.01

2,583 United Technologies USD 276,535 0.0751 United Therapeutics USD 5,752 0.00

3,201 UnitedHealth Group USD 520,331 0.12385 Universal Health Services – B – USD 41,214 0.01

1,020 Unum Group USD 41,709 0.015,128 Urban Edge Properties USD 106,696 0.035,629 US Bancorp USD 256,265 0.06

151 Vail Resorts USD 26,916 0.011,543 Valero Energy USD 91,279 0.02

671 Vantiv – A – USD 37,246 0.010 Varex Imaging USD 1 0.00

409 Varian Medical Systems USD 36,970 0.01307 VCA USD 24,859 0.01403 Veeva Systems – A – USD 21,672 0.01

17,804 Ventas USD 1,084,560 0.2648,884 VEREIT USD 348,879 0.08







Currency Market

Value

% of

Net

Assets


13,332 Verizon Communications USD 522,054 0.12711 Vertex Pharmaceuticals USD 80,373 0.02

1,012 VF USD 51,107 0.011,005 Viacom – B – USD 29,585 0.016,024 Visa – A – USD 495,322 0.12

80 VMware – A – USD 6,128 0.008,770 Vornado Realty Trust USD 721,999 0.17

397 Voya Financial USD 12,830 0.00331 Vulcan Materials USD 36,809 0.01


3,229 Walgreens Boots Alliance USD 221,726 0.054,959 Wal-Mart Stores USD 329,082 0.085,025 Walt Disney USD 468,154 0.117,874 Washington Prime Group USD 57,787 0.013,366 Washington Real Estate Investment Trust USD 94,136 0.021,607 Waste Management USD 103,380 0.02

307 Waters USD 49,563 0.01824 WEC Energy Group USD 44,330 0.01

5,232 Weingarten Realty Investors USD 138,085 0.0315,684 Wells Fargo & Co USD 761,979 0.1818,410 Welltower USD 1,208,198 0.29

608 Westar Energy USD 28,255 0.011,032 Western Digital USD 80,152 0.022,107 Western Union USD 35,198 0.011,089 WestRock USD 54,109 0.012,182 Weyerhaeuser USD 64,104 0.02

285 Whirlpool USD 47,872 0.011,378 Whole Foods Market USD 50,861 0.013,020 Williams Cos USD 80,165 0.02

507 Workday – A – USD 43,091 0.014,741 WP Carey USD 274,362 0.07

532 WR Berkley USD 32,261 0.01104 WW Grainger USD 16,494 0.00470 Wyndham Worldwide USD 41,358 0.01350 Wynn Resorts USD 41,100 0.01

1,472 Xcel Energy USD 59,221 0.01923 Xerox USD 23,263 0.01

1,089 Xilinx USD 61,405 0.01768 Xylem USD 37,310 0.01982 Yum! Brands USD 63,479 0.02870 Zayo Group Holdings USD 23,557 0.01

68 Zillow Group – C – USD 2,936 0.00739 Zimmer Biomet Holdings USD 83,195 0.02765 Zions Bancorporation USD 29,464 0.01

1,783 Zoetis USD 97,505 0.02

91,740,833 21.83


Ex Japan EUR 19,663,190 4.68277 Natixis Asset Management Natixis


48,454,072 11.53Ireland

1,370,000 BlackRock Emerging Markets Index Fund– AE – EUR 25,521,730 6.07





INVESTMENTS 417,481,230 99.35


266


AAMMF Verzekeringen Beleggingsfonds Matig Offensief 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet


(56) Bundesrepublik Deutschland Future BOBL 09/17 EUR (7,312,002) 69,956 0.014 Bundesrepublik Deutschland Future BUND 09/17 EUR 570,606 (8,469) (0.00)4 Bundesrepublik Deutschland Future SCHATZ 09/17 EUR 443,566 (1,150) (0.00)9 EURO STOXX 50 Index Future 09/17 EUR 308,465 (9,574) (0.00)3 FTSE 100 Index Future 09/17 GBP 255,983 (6,022) (0.00)6 S&P 500 E-mini Index Future 09/17 USD 620,506 (1,639) (0.00)0 S&P 500 Index Future 09/17 USD 181,298 (457) (0.00)1 Swiss Market Index Future 09/17 CHF 108,895 (294) (0.00)1 Topix Index Future 09/17 JPY 134,059 495 0.00







267


AAMMF Verzekeringen BeleggingsfondsOffensief 30-06-2017






Date

Market

Value

% of

Net

Assets



128,556 0.06Austria

46,348 Austria Government Bond EUR 1.950% 18/06/19 48,558 0.029,656 Austria Government Bond EUR 3.500% 15/09/21 11,170 0.01

53,107 Austria Government Bond EUR 3.400% 22/11/22 62,878 0.0328,968 Austria Government Bond EUR 1.750% 20/10/23 31,933 0.0196,559 Austria Government Bond EUR 1.650% 21/10/24 105,884 0.0555,521 Austria Government Bond EUR 0.750% 20/10/26 56,123 0.0316,415 OeBB-Infrastruktur EUR 3.500% 19/10/20 18,409 0.0128,968 OeBB-Infrastruktur EUR 4.875% 27/06/22 35,841 0.0223,754 OMV EUR 4.250% 12/10/21 27,650 0.0119,312 OMV EUR 2.625% 27/09/22 21,276 0.019,656 OMV EUR 6.250% 29/12/49 11,225 0.01

430,947 0.21Belgium

48,279 AG Insurance EUR 3.500% 30/06/47 50,814 0.02128,423 Anheuser-Busch InBev EUR 1.500% 17/03/25 133,238 0.06106,215 Belgium Government Bond EUR 4.000% 28/03/18 109,802 0.0579,661 Belgium Government Bond EUR 3.000% 28/09/19 85,916 0.0448,279 Belgium Government Bond EUR 3.750% 28/09/20 54,769 0.0348,279 Belgium Government Bond EUR 4.250% 28/09/21 57,488 0.0331,864 Belgium Government Bond EUR 2.250% 22/06/23 35,988 0.0228,968 Belgium Government Bond EUR 2.600% 22/06/24 33,614 0.0218,829 Belgium Government Bond EUR 0.800% 22/06/25 19,305 0.0131,382 Belgium Government Bond EUR 1.000% 22/06/26 32,397 0.029,656 Brussels Airport EUR 1.000% 03/05/24 9,645 0.00

19,312 Flemish Community EUR 1.341% 12/06/25 20,244 0.0148,280 KBC Group EUR 1.875% 11/03/27 49,188 0.029,656 RESA EUR 1.000% 22/07/26 9,402 0.00

19,312 Solvay EUR 1.625% 02/12/22 20,167 0.01

721,977 0.34Canada

28,968 Bank of Nova Scotia EUR 0.375% 06/04/22 28,738 0.0114,484 Magna International EUR 1.900% 24/11/23 15,325 0.0128,967 Toronto-Dominion Bank EUR 0.625% 08/03/21 29,359 0.0114,484 Toronto-Dominion Bank EUR 0.375% 27/04/23 14,451 0.01





14,484 CEZ EUR 4.875% 16/04/25 18,241 0.01

18,241 0.01Denmark


79,030 0.04Finland


157,955 0.08France

38,624 Air Liquide Finance EUR 0.750% 13/06/24 38,794 0.0238,624 APRR EUR 1.875% 15/01/25 41,014 0.0296,559 Autoroutes du Sud de la

France EUR 2.875% 18/01/23 108,469 0.0538,624 AXA EUR 3.875% 20/05/49 42,051 0.0219,312 Banque Federative du Credit









Date

Market

Value

% of

Net

Assets


48,279 BNP Paribas EUR 2.875% 20/03/26 51,233 0.0238,624 BNP Paribas EUR 2.625% 14/10/27 40,834 0.0248,279 Bouygues EUR 3.625% 16/01/23 55,947 0.039,656 BPCE EUR 0.625% 20/04/20 9,795 0.00

48,279 BPCE EUR 2.750% 08/07/26 50,837 0.0248,279 BPCE EUR 2.750% 30/11/27 51,138 0.0238,624 Capgemini EUR 2.500% 01/07/23 41,913 0.0253,107 Carrefour EUR 3.875% 25/04/21 60,310 0.0348,279 Credit Agricole EUR 1.250% 14/04/26 48,677 0.0277,247 Credit Agricole EUR 1.875% 20/12/26 78,900 0.0419,312 Credit Mutuel Arkea EUR 1.250% 31/05/24 19,197 0.0143,451 Electricite de France EUR 4.625% 11/09/24 54,290 0.0357,935 Engie EUR 0.875% 27/03/24 58,243 0.03

183,462 France Government Bond OAT EUR 4.000% 25/04/18 190,307 0.0996,559 France Government Bond OAT EUR 1.000% 25/05/18 97,925 0.0596,559 France Government Bond OAT EUR 1.000% 25/11/18 98,645 0.05

193,118 France Government Bond OAT EUR 0.500% 25/11/19 197,497 0.09144,838 France Government Bond OAT EUR 0.250% 25/11/20 147,573 0.07183,462 France Government Bond OAT EUR 0.000% 25/05/21 185,098 0.09193,118 France Government Bond OAT EUR 2.250% 25/10/22 216,133 0.10173,806 France Government Bond OAT EUR 1.750% 25/05/23 190,687 0.0993,662 France Government Bond OAT EUR 1.750% 25/11/24 103,102 0.05

168,978 France Government Bond OAT EUR 0.500% 25/05/25 169,387 0.08151,598 France Government Bond OAT EUR 1.000% 25/11/25 157,108 0.0848,279 France Government Bond OAT EUR 0.500% 25/05/26 47,625 0.0238,624 HSBC France EUR 0.625% 03/12/20 39,152 0.0257,935 Klepierre EUR 1.750% 06/11/24 61,108 0.0328,968 Orange EUR 3.000% 15/06/22 32,475 0.0219,312 Orange EUR 2.500% 01/03/23 21,281 0.0138,624 Orange EUR 1.000% 12/05/25 38,689 0.029,656 Pernod Ricard EUR 2.125% 27/09/24 10,397 0.01

19,312 Publicis Groupe EUR 1.625% 16/12/24 20,095 0.0114,484 RCI Banque EUR 1.375% 17/11/20 15,023 0.0114,484 RCI Banque EUR 2.250% 29/03/21 15,447 0.0119,312 Sanofi EUR 1.750% 10/09/26 20,578 0.019,656 Schneider Electric EUR 2.500% 06/09/21 10,534 0.01



3,376,149 1.61Germany

9,656 Bertelsmann EUR 3.000% 23/04/75 10,032 0.0138,624 Bundesobligation EUR 0.000% 08/10/21 39,125 0.0296,559 Bundesrepublik Deutschland EUR 3.250% 04/01/20 105,854 0.05

193,118 Bundesrepublik Deutschland EUR 1.500% 04/09/22 209,957 0.10178,634 Bundesrepublik Deutschland EUR 1.500% 15/05/23 195,173 0.09106,215 Bundesrepublik Deutschland EUR 1.750% 15/02/24 118,443 0.06106,215 Bundesrepublik Deutschland EUR 0.500% 15/02/25 108,901 0.05130,355 Bundesrepublik Deutschland EUR 0.500% 15/02/26 132,453 0.06231,741 Bundesschatzanweisungen EUR 0.000% 15/12/17 232,470 0.11231,741 Bundesschatzanweisungen EUR 0.000% 16/03/18 232,809 0.1123,464 Continental EUR 3.125% 09/09/20 25,620 0.0119,312 Daimler EUR 2.250% 24/01/22 20,988 0.0138,623 Daimler EUR 2.375% 12/09/22 42,385 0.0243,451 Daimler EUR 1.875% 08/07/24 46,878 0.0277,247 Deutsche Boerse EUR 2.750% 05/02/41 81,951 0.0414,194 Deutsche Post EUR 2.875% 11/12/24 16,346 0.0138,624 EnBW Energie

Baden-Wuerttemberg EUR 3.625% 02/04/76 40,794 0.0224,140 Eurogrid EUR 3.875% 22/10/20 26,944 0.0138,624 Eurogrid EUR 1.625% 03/11/23 40,466 0.0238,624 Eurogrid EUR 1.875% 10/06/25 40,996 0.0223,174 Evonik Industries EUR 1.000% 23/01/23 23,666 0.0131,864 Linde EUR 2.000% 18/04/23 34,707 0.0238,624 Merck EUR 2.625% 12/12/74 40,654 0.024,828 State of Lower Saxony EUR 1.625% 23/07/21 5,168 0.00

1,872,780 0.89


268








Date

Market

Value

% of

Net

Assets

BONDS EUR %Guernsey


78,923 0.04Ireland


9,656 Bank of Ireland EUR 1.250% 09/04/20 9,926 0.0038,624 CRH Finance DAC EUR 3.125% 03/04/23 43,639 0.0214,484 FCA Bank Ireland EUR 1.250% 21/01/21 14,763 0.0128,968 Fresenius Finance Ireland EUR 0.875% 31/01/22 29,019 0.0114,484 Fresenius Finance Ireland EUR 1.500% 30/01/24 14,656 0.0170,971 Ireland Government Bond EUR 5.900% 18/10/19 81,166 0.0448,279 Ireland Government Bond EUR 3.400% 18/03/24 57,835 0.0356,970 Ireland Government Bond EUR 1.000% 15/05/26 57,613 0.0319,312 Johnson Controls International EUR 1.000% 15/09/23 19,094 0.019,656 Kerry Group Financial


437,418 0.21Italy

38,623 Assicurazioni Generali EUR 5.500% 27/10/47 43,111 0.0238,623 Autostrade per l’Italia EUR 4.375% 16/03/20 43,088 0.0228,968 Autostrade per l’Italia EUR 5.875% 09/06/24 38,492 0.0228,968 Eni EUR 4.250% 03/02/20 32,002 0.0219,312 Eni EUR 2.625% 22/11/21 21,139 0.0128,968 Intesa Sanpaolo EUR 1.125% 14/01/20 29,631 0.0157,935 Intesa Sanpaolo EUR 2.000% 18/06/21 61,125 0.0319,312 Intesa Sanpaolo EUR 0.875% 27/06/22 19,345 0.01













2,153,234 1.03Jersey


4,809 0.00Latvia


15,902 0.01Lithuania




49,709 0.02Mexico


47,710 0.02








Date

Market

Value

% of

Net

Assets



Services EUR 1.000% 02/12/24 28,834 0.0138,623 Akzo Nobel EUR 1.750% 07/11/24 40,511 0.0238,624 Alliander EUR 3.250% 29/11/49 40,139 0.0238,623 Allianz Finance II EUR 5.750% 08/07/41 45,580 0.0238,623 ASR Nederland EUR 5.125% 29/09/45 43,608 0.0257,935 ASR Nederland EUR 5.000% 30/09/49 63,518 0.0313,615 Bayer Capital EUR 1.250% 13/11/23 14,255 0.0177,247 BMW Finance EUR 2.375% 24/01/23 85,245 0.0438,623 BMW Finance EUR 1.000% 21/01/25 39,109 0.0219,312 Coca-Cola HBC Finance EUR 2.375% 18/06/20 20,439 0.019,656 Deutsche Telekom

International Finance EUR 1.125% 22/05/26 9,514 0.0014,484 EDP Finance EUR 1.875% 29/09/23 14,910 0.0177,247 EnBW International Finance EUR 4.875% 16/01/25 100,253 0.0548,279 Enel Finance International EUR 1.375% 01/06/26 48,150 0.0219,312 Gas Natural Fenosa Finance EUR 2.875% 11/03/24 21,694 0.0119,312 Heineken EUR 2.125% 04/08/20 20,457 0.0114,291 Heineken EUR 3.500% 19/03/24 16,721 0.019,656 Hella Finance International EUR 1.000% 17/05/24 9,590 0.009,656 Iberdrola International EUR 3.500% 01/02/21 10,770 0.01

38,624 Iberdrola International EUR 1.125% 27/01/23 39,618 0.0228,968 ING Bank EUR 3.625% 25/02/26 31,699 0.0267,591 ING Groep EUR 2.500% 15/02/29 70,553 0.0319,312 JAB Holdings EUR 1.750% 25/05/23 20,182 0.0138,623 LeasePlan EUR 1.000% 08/04/20 39,282 0.0238,623 LeasePlan EUR 1.000% 24/05/21 39,160 0.0248,279 Netherlands Government Bond EUR 4.000% 15/07/18 50,602 0.02

144,838 Netherlands Government Bond EUR 0.000% 15/01/22 146,085 0.0782,558 Netherlands Government Bond EUR 3.750% 15/01/23 100,011 0.05

101,387 Netherlands Government Bond EUR 0.250% 15/07/25 100,595 0.0566,626 Netherlands Government Bond EUR 0.500% 15/07/26 66,646 0.039,656 Repsol International Finance EUR 3.875% 29/12/49 10,085 0.01


38,624 TenneT Holding EUR 1.000% 13/06/26 38,322 0.0228,968 TenneT Holding EUR 2.995% 31/12/99 29,739 0.0119,312 Vonovia Finance EUR 0.750% 25/01/22 19,406 0.0157,935 Vonovia Finance EUR 0.875% 10/06/22 58,451 0.039,656 Vonovia Finance EUR 1.750% 25/01/27 9,782 0.00



19,136 0.01Norway


65,211 0.03Portugal


90,878 0.04Slovakia


63,452 0.03Spain

38,624 Abertis Infraestructuras EUR 1.375% 20/05/26 38,323 0.0257,935 BBVA Subordinated Capital EUR 3.500% 11/04/24 60,918 0.0319,312 Enagas Financiaciones EUR 2.500% 11/04/22 21,249 0.0167,591 Santander International Debt EUR 1.375% 14/12/22 70,382 0.03

164,150 Spain Government Bond EUR 0.500% 31/10/17 164,680 0.08164,150 Spain Government Bond EUR 4.500% 31/01/18 168,788 0.08144,838 Spain Government Bond EUR 4.300% 31/10/19 160,084 0.0889,317 Spain Government Bond EUR 4.000% 30/04/20 99,789 0.05



7,725 Spain Government Bond EUR 1.950% 30/04/26 8,126 0.00


269








Date

Market

Value

% of

Net

Assets





106,028 0.05Sweden







Switzerland EUR 1.250% 01/09/26 38,158 0.02


38,624 BAT International Finance EUR 3.625% 09/11/21 43,581 0.0219,312 BAT International Finance EUR 0.875% 13/10/23 19,029 0.019,656 BP Capital Markets EUR 4.154% 01/06/20 10,765 0.01

19,312 BP Capital Markets EUR 1.373% 03/03/22 20,072 0.0119,312 BP Capital Markets EUR 0.830% 19/09/24 19,024 0.0138,623 British Telecommunications EUR 1.125% 10/03/23 39,129 0.029,656 Compass Group EUR 1.875% 27/01/23 10,298 0.00

14,484 FCE Bank EUR 1.875% 24/06/21 15,144 0.0124,140 FCE Bank EUR 1.134% 10/02/22 24,378 0.0114,484 FCE Bank EUR 1.615% 11/05/23 14,757 0.0112,070 GlaxoSmithKline Capital EUR 4.000% 16/06/25 14,863 0.0174,543 HBOS EUR 4.500% 18/03/30 86,803 0.0438,623 HSBC Holdings EUR 1.500% 15/03/22 40,254 0.0238,624 Imperial Brands Finance EUR 3.375% 26/02/26 44,169 0.029,656 Mondi Finance EUR 3.375% 28/09/20 10,592 0.01


43,451 United Utilities Water EUR 4.250% 24/01/20 47,886 0.0248,279 Vodafone Group EUR 1.250% 25/08/21 49,742 0.02



38,624 AT&T EUR 2.650% 17/12/21 41,815 0.029,656 AT&T EUR 1.300% 05/09/23 9,747 0.00

48,279 AT&T EUR 3.500% 17/12/25 55,069 0.0367,591 Bank of America EUR 1.379% 07/02/25 67,941 0.0324,140 Citigroup EUR 1.071% 10/02/19 24,231 0.0119,312 Coca-Cola European Partners

US EUR 2.750% 06/05/26 21,642 0.0138,624 Eli Lilly & Co EUR 1.000% 02/06/22 39,618 0.029,656 General Electric EUR 0.875% 17/05/25 9,535 0.00

14,484 General Mills EUR 2.100% 16/11/20 15,278 0.014,828 General Motors Financial EUR 0.955% 07/09/23 4,674 0.00




Funding I EUR 0.875% 20/01/22 44,223 0.02








Date

Market

Value

% of

Net

Assets


86,903 Morgan Stanley EUR 1.875% 30/03/23 91,077 0.0448,279 Pfizer EUR 5.750% 03/06/21 58,590 0.0314,484 Philip Morris International EUR 2.875% 30/05/24 16,342 0.0114,484 Philip Morris International EUR 2.750% 19/03/25 16,258 0.0114,484 Praxair EUR 1.200% 12/02/24 14,890 0.0138,624 Priceline Group EUR 2.375% 23/09/24 41,049 0.0233,796 Procter & Gamble EUR 4.875% 11/05/27 45,397 0.029,656 Thermo Fisher Scientific EUR 0.750% 12/09/24 9,276 0.00



1,157,735 0.55


270






Currency Market

Value

% of

Net

Assets




24,461 BHP Billiton GBP 327,614 0.169,959 BWP Trust AUD 19,959 0.016,184 Charter Hall Retail REIT AUD 16,927 0.01

36,676 Cromwell Property Group AUD 23,432 0.0123,473 Dexus AUD 149,652 0.0742,028 Goodman Group AUD 222,445 0.1142,040 GPT Group AUD 135,426 0.0611,138 Investa Office Fund AUD 32,884 0.0184,541 Mirvac Group AUD 121,104 0.06


Group AUD 19,453 0.0154,280 Stockland AUD 159,889 0.0858,987 Vicinity Centres AUD 101,953 0.0544,659 Westfield AUD 241,178 0.11

1,910,228 0.91Austria

892 ANDRITZ EUR 47,040 0.022,449 BUWOG EUR 61,592 0.032,923 Erste Group Bank EUR 98,009 0.05

19,221 IMMOFINANZ EUR 38,461 0.021,508 OMV EUR 68,533 0.032,173 Raiffeisen Bank International EUR 48,015 0.02


399,097 0.19Belgium



3,073 KBC Group EUR 204,096 0.101,387 Proximus EUR 42,492 0.02

985 Solvay EUR 115,711 0.05322 Telenet Group Holding EUR 17,772 0.01


1,607,516 0.77Bermuda




83,382 0.04Brazil


116,080 0.06Canada


3,495 Artis Real Estate Investment Trust CAD 30,914 0.01864 Boardwalk Real Estate Investment Trust CAD 27,722 0.01

3,309 Canadian Apartment Properties REIT CAD 74,990 0.041,801 Canadian Real Estate Investment Trust CAD 55,761 0.034,404 Chartwell Retirement Residences CAD 46,054 0.024,037 Cominar Real Estate Investment Trust CAD 34,643 0.022,695 Dream Office Real Estate Investment Trust CAD 35,572 0.023,390 First Capital Realty CAD 45,219 0.02

955 Granite Real Estate Investment CAD 33,082 0.016,864 H&R Real Estate Investment Trust CAD 102,039 0.05

0 International Petroleum SEK 0 0.00234 lululemon Athletica USD 12,245 0.01

5,186 Pure Industrial Real Estate Trust CAD 24,089 0.017,328 RioCan Real Estate Investment Trust CAD 119,083 0.062,462 Smart Real Estate Investment Trust CAD 53,386 0.02


781,433 0.37






Currency Market

Value

% of

Net

Assets

SHARES EUR %Chile


52,700 0.03Denmark


1,195 Carlsberg – B – DKK 111,768 0.051,167 Chr Hansen Holding DKK 74,334 0.041,315 Coloplast – B – DKK 96,252 0.059,039 Danske Bank DKK 304,409 0.151,803 DONG Energy DKK 71,254 0.032,328 DSV DKK 125,228 0.06

702 Genmab DKK 131,208 0.061,015 H Lundbeck DKK 49,894 0.021,435 ISS DKK 49,362 0.02

20,595 Novo Nordisk – B – DKK 772,288 0.372,568 Novozymes – B – DKK 98,392 0.051,239 Pandora DKK 101,233 0.05

12,676 TDC DKK 64,545 0.03362 Tryg DKK 6,942 0.00


2,501,008 1.19Finland


67,844 Nokia EUR 363,305 0.171,696 Nokian Renkaat EUR 61,456 0.031,211 Orion – B – EUR 67,678 0.035,433 Sampo – A – EUR 243,765 0.125,532 Stora Enso – R – EUR 62,565 0.036,539 UPM-Kymmene EUR 163,214 0.081,771 Wartsila EUR 91,673 0.04

1,428,634 0.68France



753 Arkema EUR 70,352 0.031,204 Atos EUR 147,913 0.07

21,793 AXA EUR 521,947 0.2513,139 BNP Paribas EUR 828,554 0.40

6,713 Bollore EUR 26,723 0.012,609 Bouygues EUR 96,318 0.053,248 Bureau Veritas EUR 62,928 0.031,721 Capgemini EUR 155,758 0.076,582 Carrefour EUR 145,798 0.07

981 Casino Guichard Perrachon EUR 50,856 0.026,123 Cie de Saint-Gobain EUR 286,416 0.142,096 Cie Generale des Etablissements Michelin EUR 243,936 0.121,141 CNP Assurances EUR 22,424 0.01


34 Dassault Aviation EUR 41,469 0.021,273 Dassault Systemes EUR 99,926 0.052,531 Edenred EUR 57,792 0.03

900 Eiffage EUR 71,637 0.035,939 Electricite de France EUR 56,312 0.03


253 Eurazeo EUR 16,605 0.012,611 Eutelsat Communications EUR 58,387 0.031,048 Fonciere Des Regions EUR 85,127 0.041,395 Gecina EUR 191,561 0.096,402 Groupe Eurotunnel EUR 59,780 0.03

383 Hermes International EUR 165,571 0.08949 ICADE EUR 69,738 0.03353 Iliad EUR 73,041 0.03440 Imerys EUR 33,513 0.02661 Ingenico Group EUR 52,527 0.03552 Ipsen EUR 66,166 0.03

1,024 JCDecaux EUR 29,407 0.01


271






Currency Market

Value

% of

Net

Assets


846 Kering EUR 252,357 0.126,982 Klepierre EUR 250,546 0.12

917 Lagardere EUR 25,353 0.012,898 Legrand EUR 177,490 0.082,928 L’Oreal EUR 534,111 0.253,162 LVMH Moet Hennessy Louis Vuitton EUR 690,357 0.33






8,528 Societe Generale EUR 401,771 0.19969 Sodexo EUR 109,655 0.05

3,197 Suez EUR 51,832 0.021,297 Thales EUR 122,211 0.06

27,490 TOTAL EUR 1,189,926 0.573,140 Unibail-Rodamco EUR 692,832 0.33

248 Unibail-Rodamco (traded in Netherlands) EUR 54,825 0.032,557 Valeo EUR 150,829 0.076,391 Veolia Environnement EUR 118,232 0.065,600 Vinci EUR 418,513 0.20



15,050,803 7.19Germany

2,081 adidas EUR 349,068 0.175,366 Allianz EUR 925,050 0.443,093 alstria office REIT EUR 36,601 0.02






2,364 Deutsche Boerse EUR 218,520 0.101,190 Deutsche Euroshop EUR 41,058 0.023,236 Deutsche Lufthansa EUR 64,476 0.03

10,991 Deutsche Post EUR 360,720 0.1738,058 Deutsche Telekom EUR 598,275 0.2911,978 Deutsche Wohnen EUR 401,141 0.1926,894 E.ON EUR 221,820 0.11


Worldwide EUR 38,910 0.024,592 Fresenius & Co EUR 344,681 0.162,593 Fresenius Medical Care & Co EUR 218,212 0.10

952 FUCHS PETROLUB – Pref – EUR 45,374 0.022,240 GEA Group EUR 80,277 0.04



14,100 Infineon Technologies EUR 260,634 0.121,683 Innogy EUR 57,996 0.032,809 K+S EUR 62,985 0.031,253 LANXESS EUR 83,082 0.041,318 LEG Immobilien EUR 108,521 0.052,052 Linde EUR 340,252 0.16

432 MAN EUR 40,536 0.02






Currency Market

Value

% of

Net

Assets


1,374 Merck EUR 145,323 0.072,616 METRO EUR 77,329 0.041,973 Muenchener



11,571 SAP EUR 1,058,166 0.51820 Schaeffler – Pref – EUR 10,280 0.01

8,748 Siemens EUR 1,052,845 0.501,689 Symrise EUR 104,742 0.052,899 TAG Immobilien EUR 39,900 0.025,070 Telefonica Deutschland Holding EUR 22,172 0.014,507 thyssenkrupp EUR 112,102 0.056,462 TUI GBP 82,353 0.041,411 United Internet EUR 67,930 0.03

277 Volkswagen EUR 37,634 0.022,274 Volkswagen – Pref – EUR 303,176 0.14

15,883 Vonovia EUR 552,160 0.261,294 Zalando EUR 51,789 0.02

14,090,659 6.73Hong Kong


1,407,894 0.67Ireland







1,244,221 0.59Italy


94,550 Enel EUR 443,817 0.2129,573 Eni EUR 389,182 0.19


13,686 Intesa Sanpaolo – RSP – EUR 35,529 0.021,684 Luxottica Group EUR 85,276 0.045,060 Mediobanca EUR 43,717 0.026,400 Poste Italiane EUR 38,371 0.023,031 Prysmian EUR 78,062 0.041,535 Recordati EUR 54,512 0.037,457 Saipem EUR 24,115 0.01

27,877 Snam EUR 106,377 0.05113,853 Telecom Italia EUR 91,993 0.04

80,449 Telecom Italia – RSP – EUR 51,889 0.0217,793 Terna Rete Elettrica Nazionale EUR 84,089 0.0423,269 UniCredit EUR 380,444 0.1817,592 UnipolSai Assicurazioni EUR 33,619 0.02

2,810,704 1.34Japan




272






Currency Market

Value

% of

Net

Assets


14,729 Daiwa House Industry JPY 441,126 0.2134 Daiwa House REIT Investment JPY 71,028 0.03

9 Daiwa Office Investment JPY 40,032 0.0211 Frontier Real Estate Investment JPY 40,277 0.0261 GLP J-REIT JPY 57,827 0.03



84 Invincible Investment JPY 31,721 0.0226 Japan Excellent JPY 25,714 0.0184 Japan Hotel REIT Investment JPY 51,978 0.0322 Japan Logistics Fund JPY 40,484 0.0221 Japan Prime Realty Investment JPY 63,136 0.0331 Japan Real Estate Investment JPY 134,284 0.0641 Japan Rental Housing Investments JPY 26,839 0.0160 Japan Retail Fund Investment JPY 97,785 0.0510 Kenedix Office Investment JPY 46,623 0.0211 Kenedix Retail REIT JPY 19,736 0.0127 LaSalle Logiport REIT JPY 23,572 0.01



2,875 NTT Urban Development JPY 24,319 0.0159 Orix JREIT JPY 76,656 0.0426 Premier Investment JPY 22,019 0.01



3,507,004 1.67Jersey


86,769 0.04Jordan






493,137 0.24Mexico

67,031 Fibra Uno Administracion MXN 111,763 0.053,393 Fresnillo GBP 57,428 0.03



100 Core Laboratories USD 8,909 0.001,466 EXOR EUR 69,462 0.03

773 Gemalto EUR 40,598 0.022,800 Heineken EUR 238,378 0.111,283 Heineken Holding EUR 102,952 0.05



690 Koninklijke Vopak EUR 28,029 0.013,348 NN Group EUR 104,193 0.054,022 NXP Semiconductors USD 385,978 0.182,244 QIAGEN EUR 65,362 0.031,029 Randstad Holding EUR 52,598 0.02






Currency Market

Value

% of

Net

Assets



832 Wereldhave EUR 35,697 0.023,699 Wolters Kluwer EUR 137,089 0.07

5,985,605 2.86Norway





849,605 0.41Philippines231,865 SM Prime Holdings PHP 132,950 0.06



189,266 0.09Romania





55,578 Growthpoint Properties ZAR 91,042 0.045,508 Hyprop Investments ZAR 43,027 0.029,089 Investec GBP 59,365 0.035,410 Mediclinic International GBP 45,689 0.024,901 Mondi GBP 112,421 0.05


487,835 0.23Spain






6,433 Bankinter EUR 51,885 0.0343,968 CaixaBank EUR 183,786 0.09

5,930 Distribuidora Internacional deAlimentacion EUR 32,327 0.02

2,240 Enagas EUR 54,988 0.032,964 Endesa EUR 59,791 0.036,459 Ferrovial EUR 125,531 0.063,499 Gamesa Technologica EUR 65,414 0.033,394 Gas Natural SDG EUR 69,543 0.033,092 Grifols EUR 75,387 0.04

67,588 Iberdrola EUR 468,584 0.2212,681 Industria de Diseno Textil EUR 426,201 0.20

5,638 Inmobiliaria Colonial EUR 43,002 0.026,952 Mapfre EUR 21,260 0.017,186 Merlin Properties Socimi EUR 79,480 0.044,744 Red Electrica EUR 86,789 0.04


273






Currency Market

Value

% of

Net

Assets



4,892,156 2.34Sweden

4,356 Alfa Laval SEK 78,067 0.0412,279 Assa Abloy – B – SEK 236,269 0.11

8,227 Atlas Copco – A – SEK 276,228 0.134,781 Atlas Copco – B – SEK 144,660 0.07

213 Autoliv USD 20,546 0.012,562 Boliden SEK 61,223 0.035,677 Castellum SEK 72,995 0.043,161 Electrolux – B – SEK 90,713 0.046,344 Essity – B – SEK 152,004 0.073,101 Fabege SEK 52,229 0.031,999 Fastighets Balder – B – SEK 42,402 0.021,289 Getinge – B – SEK 22,098 0.01

11,632 Hennes & Mauritz – B – SEK 253,796 0.122,670 Hexagon – B – SEK 111,145 0.052,359 Hufvudstaden – A – SEK 34,260 0.024,118 Husqvarna – B – SEK 35,830 0.02






18,709 Svenska Handelsbanken – A – SEK 234,546 0.119,657 Swedbank – A – SEK 206,100 0.101,952 Swedish Match SEK 60,215 0.034,977 Tele2 – B – SEK 45,635 0.02




563 Baloise Holding CHF 76,383 0.0413 Barry Callebaut CHF 15,481 0.0115 Chocoladefabriken Lindt & Spruengli CHF 76,372 0.04

1 Chocoladefabriken Lindt & Spruengli –REG – CHF 66,529 0.03

938 Chubb USD 119,504 0.066,068 Cie Financiere Richemont CHF 438,905 0.212,680 Coca-Cola GBP 68,905 0.03




770 Lonza Group CHF 146,213 0.0735,947 Nestle CHF 2,746,434 1.3125,959 Novartis CHF 1,896,580 0.91


8,167 Roche Holding CHF 1,825,987 0.87522 Schindler Holding CHF 96,981 0.05269 Schindler Holding – REG – CHF 48,876 0.02

63 SGS CHF 134,516 0.0623 Sika CHF 127,537 0.06








Currency Market

Value

% of

Net

Assets










522 Aon USD 60,837 0.036,663 Ashtead Group GBP 120,574 0.063,600 Associated British Foods GBP 120,365 0.06

14,709 AstraZeneca GBP 860,194 0.4111,815 Auto Trader Group GBP 51,133 0.0250,131 Aviva GBP 300,308 0.14




103,723 BT Group GBP 348,184 0.174,479 Bunzl GBP 116,718 0.055,377 Burberry Group GBP 101,720 0.059,900 Capita GBP 77,964 0.04

11,483 Capital & Counties Properties GBP 38,277 0.0263,807 Centrica GBP 145,483 0.0713,630 CNH Industrial EUR 135,143 0.0635,473 Cobham GBP 52,358 0.02



2,644 Derwent London GBP 79,917 0.0429,454 Diageo GBP 760,958 0.3616,229 Direct Line Insurance Group GBP 65,688 0.0313,074 Dixons Carphone GBP 42,226 0.02

2,376 easyJet GBP 36,780 0.0211,556 Experian GBP 207,276 0.1010,548 Fiat Chrysler Automobiles EUR 97,353 0.0519,009 G4S GBP 70,662 0.0322,788 GKN GBP 84,607 0.0456,145 GlaxoSmithKline GBP 1,045,781 0.50

7,389 Great Portland Estates GBP 50,240 0.0227,178 Hammerson GBP 177,823 0.08


990 IHS Markit USD 38,211 0.024,026 IMI GBP 54,788 0.03

11,269 Imperial Brands GBP 442,571 0.216,373 Inmarsat GBP 55,848 0.031,775 InterContinental Hotels Group GBP 86,255 0.049,337 International Consolidated Airlines Group EUR 64,881 0.031,710 Intertek Group GBP 82,112 0.04




785 Liberty Global – A – USD 22,118 0.011,162 Liberty Global – C – USD 31,765 0.01

830,719 Lloyds Banking Group GBP 625,838 0.303,665 London Stock Exchange Group GBP 152,190 0.07

14,213 Marks & Spencer Group GBP 53,950 0.03


274






Currency Market

Value

% of

Net

Assets







29,122 Prudential GBP 584,069 0.287,731 Reckitt Benckiser Group GBP 685,396 0.33

11,834 RELX (traded in Netherlands) EUR 213,017 0.1013,238 RELX (traded in United Kingdom) GBP 250,267 0.1214,385 Rio Tinto GBP 531,132 0.2519,818 Rolls-Royce Holdings GBP 201,103 0.1043,455 Royal Bank of Scotland Group GBP 122,339 0.0611,026 Royal Mail GBP 52,892 0.02

9,265 RSA Insurance Group GBP 64,943 0.0313,234 Sage Group GBP 103,698 0.05


3,238 Severn Trent GBP 80,462 0.044,006 Shaftesbury GBP 44,367 0.02

11,776 Sky GBP 133,315 0.069,459 Smith & Nephew GBP 142,738 0.075,278 Smiths Group GBP 95,994 0.05

12,395 SSE GBP 205,116 0.106,215 St James’s Place GBP 83,664 0.04





26,484 Tritax Big Box REIT GBP 44,098 0.0214,920 Unilever GBP 706,030 0.3419,132 Unilever – CVA – EUR 924,467 0.44

5,214 UNITE Group GBP 38,540 0.029,101 United Utilities Group GBP 89,913 0.04




1,283 3M USD 234,178 0.113,519 Abbott Laboratories USD 149,960 0.073,485 AbbVie USD 221,526 0.111,970 Acadia Realty Trust USD 48,017 0.021,462 Activision Blizzard USD 73,800 0.04


181 Advance Auto Parts USD 18,472 0.012,208 Advanced Micro Devices USD 24,155 0.011,817 AES USD 17,700 0.01

808 Aetna USD 107,532 0.05134 Affiliated Managers Group USD 19,445 0.01742 Aflac USD 50,530 0.02124 AGCO USD 7,343 0.00792 Agilent Technologies USD 41,195 0.02928 AGNC Investment USD 17,316 0.01753 Agree Realty USD 30,276 0.01475 Air Products & Chemicals USD 59,542 0.03484 Akamai Technologies USD 21,143 0.01310 Albemarle USD 28,647 0.01








Currency Market

Value

% of

Net

Assets


680 Allergan USD 144,977 0.0770 Alliance Data Systems USD 15,665 0.01

626 Alliant Energy USD 22,039 0.01850 Allstate USD 65,889 0.03757 Ally Financial USD 13,873 0.01630 Alphabet – A – USD 513,290 0.25662 Alphabet – C – USD 527,440 0.25


16 AMERCO USD 5,144 0.00498 Ameren USD 23,848 0.01461 American Airlines Group USD 20,343 0.01808 American Assets Trust USD 27,902 0.01

3,122 American Campus Communities USD 129,462 0.061,092 American Electric Power USD 66,507 0.031,599 American Express USD 118,076 0.06

181 American Financial Group USD 15,763 0.015,577 American Homes 4 Rent – A – USD 110,354 0.052,072 American International Group USD 113,605 0.05


1,504 Amgen USD 227,184 0.11753 Amphenol – A – USD 48,758 0.02

1,250 Anadarko Petroleum USD 49,708 0.02795 Analog Devices USD 54,232 0.03

1,414 Annaly Capital Management USD 14,934 0.01242 Ansys USD 25,861 0.01247 Antero Resources USD 4,688 0.00558 Anthem USD 92,099 0.04127 AO Smith USD 6,257 0.00873 Apache USD 36,677 0.02

3,728 Apartment Investment & Management – A– USD 140,442 0.07

10,946 Apple USD 1,382,181 0.665,127 Apple Hospitality REIT USD 84,113 0.042,112 Applied Materials USD 76,495 0.04

636 Aramark USD 22,854 0.011,173 Archer-Daniels-Midland USD 42,554 0.02

983 Arconic USD 19,526 0.01112 Arista Networks USD 14,735 0.01

58 Arrow Electronics USD 3,985 0.00488 Arthur J Gallagher & Co USD 24,489 0.01


13,215 AT&T USD 437,174 0.21254 Atmos Energy USD 18,444 0.01379 Autodesk USD 33,538 0.02852 Automatic Data Processing USD 76,551 0.04132 AutoNation USD 4,870 0.00

77 AutoZone USD 38,436 0.023,483 AvalonBay Communities USD 586,905 0.28

92 Avery Dennison USD 7,128 0.0044 Avnet USD 1,512 0.00

124 Axalta Coating Systems USD 3,497 0.00682 Baker Hughes USD 32,593 0.02912 Ball USD 33,738 0.02

21,173 Bank of America USD 450,358 0.222,041 Bank of New York Mellon USD 91,303 0.04

882 Baxter International USD 46,816 0.021,702 BB&T USD 67,758 0.03


2,612 Berkshire Hathaway – B – USD 387,807 0.19784 Best Buy USD 39,411 0.02453 Biogen USD 107,717 0.05448 BioMarin Pharmaceutical USD 35,649 0.02254 BlackRock USD 94,003 0.05

1,243 Boeing USD 215,545 0.10273 BorgWarner USD 10,136 0.01

3,904 Boston Properties USD 421,068 0.202,913 Boston Scientific USD 70,803 0.034,023 Brandywine Realty Trust USD 61,828 0.033,574 Bristol-Myers Squibb USD 174,586 0.087,485 Brixmor Property Group USD 117,332 0.06

874 Broadcom USD 178,604 0.09


275






Currency Market

Value

% of

Net

Assets



605 Brown-Forman – B – USD 25,794 0.01386 Bunge USD 25,247 0.01862 CA USD 26,052 0.01

1,135 Cabot Oil & Gas USD 24,952 0.01365 Cadence Design Systems USD 10,709 0.01

2,307 Camden Property Trust USD 172,976 0.08554 Campbell Soup USD 25,339 0.01

1,009 Capital One Financial USD 73,068 0.04666 Cardinal Health USD 45,511 0.02

2,024 Care Capital Properties USD 47,372 0.021,623 CareTrust REIT USD 26,378 0.01

534 CarMax USD 29,548 0.012,130 Carnival (traded in United Kingdom) GBP 123,220 0.06

706 Carnival (traded in United States) USD 40,608 0.021,262 Caterpillar USD 118,909 0.064,543 CBL & Associates Properties USD 33,579 0.02

245 CBOE Holdings USD 19,636 0.01833 CBRE Group – A – USD 26,572 0.01880 CBS – B – USD 49,187 0.02349 CDK Global USD 18,984 0.01203 CDW USD 11,123 0.01379 Celanese – A – USD 31,546 0.02


1,128 CenterPoint Energy USD 27,082 0.01848 CenturyLink USD 17,759 0.01485 Cerner USD 28,266 0.01269 CF Industries Holdings USD 6,583 0.00221 CH Robinson Worldwide USD 13,288 0.01

2,521 Charles Schwab USD 94,966 0.05454 Charter Communications – A – USD 134,119 0.06937 Chatham Lodging Trust USD 16,508 0.01269 Cheniere Energy USD 11,478 0.01


35 Chipotle Mexican Grill USD 12,817 0.01790 Church & Dwight USD 35,925 0.02485 Cigna USD 71,215 0.03232 Cimarex Energy USD 19,093 0.01384 Cincinnati Financial USD 24,394 0.01236 Cintas USD 26,084 0.01




485 Colony NorthStar – A – USD 5,986 0.002,476 Colony Starwood Homes USD 74,470 0.043,033 Columbia Property Trust USD 59,509 0.039,954 Comcast – A – USD 339,662 0.16



65 Cooper Cos USD 13,597 0.011,774 Corning USD 46,748 0.022,175 Corporate Office Properties Trust USD 66,806 0.03

36 CoStar Group USD 8,271 0.00901 Costco Wholesale USD 126,354 0.06

1,337 Coty – A – USD 21,987 0.0110,422 Cousins Properties USD 80,320 0.04

125 CR Bard USD 34,626 0.02683 Crown Castle International USD 59,978 0.03185 Crown Holdings USD 9,659 0.00







Currency Market

Value

% of

Net

Assets


285 Cummins USD 40,472 0.022,034 CVS Health USD 143,492 0.072,078 CyrusOne USD 101,575 0.051,459 Danaher USD 107,970 0.05




66 DexCom USD 4,225 0.0091 Diamondback Energy USD 7,095 0.00

2 Dick’s Sporting Goods USD 69 0.003,955 Digital Realty Trust USD 391,715 0.19

884 Discover Financial Services USD 48,212 0.02243 Discovery Communications – A – USD 5,515 0.00127 Discovery Communications – C – USD 2,805 0.00405 DISH Network – A – USD 22,303 0.01469 Dollar General USD 29,643 0.01589 Dollar Tree USD 36,100 0.02


3,307 Douglas Emmett USD 110,803 0.05376 Dover USD 26,454 0.01

2,405 Dow Chemical USD 132,974 0.06869 DR Horton USD 26,347 0.01448 Dr Pepper Snapple Group USD 35,816 0.02318 DTE Energy USD 29,510 0.01

1,395 Duke Energy USD 102,247 0.059,243 Duke Realty USD 226,511 0.111,902 DuPont Fabros Technology USD 102,018 0.05

627 DXC Technology USD 42,196 0.02342 E*TRADE Financial USD 11,392 0.01350 East West Bancorp USD 17,998 0.01576 Easterly Government Properties USD 10,578 0.01713 EastGroup Properties USD 52,408 0.03410 Eastman Chemical USD 30,187 0.01

1,063 Eaton USD 72,518 0.0372 Eaton Vance USD 2,979 0.00

2,133 eBay USD 65,315 0.03516 Ecolab USD 60,056 0.03601 Edison International USD 41,213 0.02



2,135 Eli Lilly & Co USD 154,094 0.071,548 Emerson Electric USD 80,938 0.042,700 Empire State Realty Trust – A – USD 49,176 0.02


1,127 EOG Resources USD 89,447 0.041,684 EPR Properties USD 106,125 0.05

208 EQT USD 10,681 0.01200 Equifax USD 24,153 0.01162 Equinix USD 60,972 0.03

2,896 Equity Commonwealth USD 80,231 0.041,862 Equity LifeStyle Properties USD 140,976 0.079,282 Equity Residential USD 535,713 0.261,657 Essex Property Trust USD 373,870 0.18



1,205 Express Scripts Holding USD 67,471 0.034,240 Extended Stay America USD 71,973 0.033,231 Extra Space Storage USD 220,962 0.118,808 Exxon Mobil USD 623,452 0.30

185 F5 Networks USD 20,571 0.015,005 Facebook – A – USD 662,536 0.32

525 Fastenal USD 20,028 0.011,878 Federal Realty Investment Trust USD 208,099 0.10

500 FedEx USD 95,181 0.053,304 FelCor Lodging Trust USD 20,884 0.01


276






Currency Market

Value

% of

Net

Assets


761 Fidelity National Information Services USD 57,015 0.031,906 Fifth Third Bancorp USD 43,389 0.022,918 First Industrial Realty Trust USD 73,234 0.04

404 First Republic Bank USD 35,457 0.02783 FirstEnergy USD 20,012 0.01386 Fiserv USD 41,356 0.02240 FleetCor Technologies USD 30,288 0.01

1,513 Flex USD 21,636 0.01215 FLIR Systems USD 6,532 0.00

81 Flowserve USD 3,298 0.00342 Fluor USD 13,713 0.01360 FMC USD 23,049 0.01680 FNF Group USD 26,736 0.01375 Foot Locker USD 16,213 0.01





18,774 General Electric USD 444,597 0.211,324 General Mills USD 64,321 0.033,196 General Motors USD 97,879 0.05

413 Genuine Parts USD 33,553 0.0216,448 GGP USD 339,760 0.16

2,785 Gilead Sciences USD 172,802 0.081,411 Global Net Lease USD 27,517 0.01

425 Global Payments USD 33,627 0.02806 Goldman Sachs Group USD 156,817 0.08400 Goodyear Tire & Rubber USD 12,262 0.01

1,657 Government Properties Income Trust USD 26,605 0.013,574 Gramercy Property Trust USD 93,088 0.04

614 H&R Block USD 16,637 0.011,982 Halliburton USD 74,220 0.04

862 Hanesbrands USD 17,513 0.01262 Harley-Davidson USD 12,396 0.01180 Harris USD 17,240 0.01733 Hartford Financial Services Group USD 33,791 0.02205 Hasbro USD 20,028 0.01553 HCA Healthcare USD 42,303 0.02



94 Helmerich & Payne USD 4,467 0.00196 Henry Schein USD 31,498 0.02645 Hersha Hospitality Trust USD 10,470 0.01257 Hershey USD 24,163 0.01786 Hess USD 30,234 0.01

3,200 Hewlett Packard Enterprise USD 46,542 0.022,438 Highwoods Properties USD 108,415 0.05

500 Hilton Worldwide Holdings USD 27,135 0.01106 HollyFrontier USD 2,565 0.00692 Hologic USD 27,536 0.01

2,543 Home Depot USD 342,026 0.161,552 Honeywell International USD 181,361 0.09

383 Hormel Foods USD 11,465 0.011,403 Host Hotels & Resorts USD 22,482 0.013,574 HP USD 54,773 0.033,420 Hudson Pacific Properties USD 102,512 0.05


52 Huntington Ingalls Industries USD 8,529 0.00186 IDEX USD 18,383 0.01247 IDEXX Laboratories USD 34,928 0.02671 Illinois Tool Works USD 84,303 0.04359 Illumina USD 54,582 0.03435 Incyte USD 48,066 0.02








Currency Market

Value

% of

Net

Assets



1,110 Interpublic Group of Cos USD 23,934 0.01455 Intuit USD 53,001 0.03


2,008 Investors Real Estate Trust USD 10,931 0.01688 Iron Mountain USD 20,730 0.01189 Jack Henry & Associates USD 17,176 0.01

91 Jacobs Engineering Group USD 4,324 0.00114 JB Hunt Transport Services USD 9,130 0.00200 JM Smucker USD 20,775 0.01

5,767 Johnson & Johnson USD 668,865 0.322,287 Johnson Controls International USD 86,961 0.04



1,769 KeyCorp USD 29,067 0.012,260 Kilroy Realty USD 148,897 0.07

677 Kimberly-Clark USD 76,652 0.0411,111 Kimco Realty USD 178,769 0.09

3,830 Kinder Morgan USD 64,342 0.031,861 Kite Realty Group Trust USD 30,888 0.01


1,206 Kraft Heinz USD 90,560 0.041,694 Kroger USD 34,644 0.02

673 L Brands USD 31,787 0.02116 L3 Technologies USD 16,951 0.01

1,826 La Quinta Holdings USD 23,648 0.01282 Laboratory of America Holdings USD 38,160 0.02309 Lam Research USD 38,335 0.02708 Las Vegas Sands USD 39,666 0.02204 Lear USD 25,355 0.01257 Leggett & Platt USD 11,842 0.01347 Leidos Holdings USD 15,742 0.01321 Lennar – A – USD 15,027 0.01

94 Lennox International USD 15,131 0.01404 Leucadia National USD 9,276 0.00537 Level 3 Communications USD 27,912 0.01

5,000 Lexington Realty Trust USD 43,442 0.02300 Liberty Broadband – C – USD 22,829 0.01





1,753 Lowe’s Cos USD 119,133 0.06980 LTC Properties USD 44,162 0.02622 LyondellBasell Industries – A – USD 46,008 0.02330 M&T Bank USD 46,859 0.02


305 Macquarie Infrastructure USD 20,934 0.01228 Macy’s USD 4,648 0.00260 Mallinckrodt USD 10,205 0.01238 ManpowerGroup USD 23,342 0.01


25 Markel USD 21,041 0.01731 Marriott International – A – USD 64,285 0.03

1,247 Marsh & McLennan Cos USD 85,230 0.04166 Martin Marietta Materials USD 32,479 0.02801 Masco USD 26,834 0.01

2,090 Mastercard – A – USD 222,533 0.11737 Mattel USD 13,910 0.01480 Maxim Integrated Products USD 18,878 0.01148 McCormick & Co USD 12,614 0.01



277






Currency Market

Value

% of

Net

Assets




64 Mettler-Toledo International USD 33,197 0.021,148 MGM Growth Properties – A – USD 29,390 0.011,247 MGM Resorts International USD 34,202 0.02


15,273 Microsoft USD 923,049 0.442,787 Mid-America Apartment Communities USD 257,538 0.12

226 Middleby USD 24,117 0.01113 Mohawk Industries USD 24,008 0.01460 Molson Coors Brewing – B – USD 34,838 0.02

3,057 Mondelez International – A – USD 115,746 0.063,620 Monogram Residential Trust REIT USD 30,823 0.01


2,956 Morgan Stanley USD 115,497 0.06916 Mosaic USD 18,345 0.01366 Motorola Solutions USD 27,869 0.01321 MSCI USD 28,966 0.01157 Murphy Oil USD 3,523 0.00702 Mylan USD 23,877 0.01206 Nasdaq USD 12,895 0.01964 National Health Investors USD 66,975 0.03843 National Oilwell Varco USD 24,357 0.01

3,700 National Retail Properties USD 126,850 0.06996 National Storage Affiliates Trust USD 20,176 0.01739 Navient USD 10,795 0.01797 NetApp USD 27,995 0.01920 Netflix USD 120,487 0.06426 New York Community Bancorp USD 4,899 0.00

3,774 New York REIT USD 28,590 0.01879 Newell Brands USD 41,320 0.02547 Newfield Exploration USD 13,659 0.01928 Newmont Mining USD 26,344 0.01

1,070 News – A – USD 12,847 0.01938 NextEra Energy USD 115,297 0.06525 Nielsen Holdings USD 17,795 0.01

3,018 NIKE – B – USD 156,127 0.07787 NiSource USD 17,507 0.01

1,185 Noble Energy USD 29,392 0.0117 Nordstrom USD 700 0.00

648 Norfolk Southern USD 69,160 0.03422 Northern Trust USD 35,968 0.02401 Northrop Grumman USD 90,239 0.04

1,510 NorthStar Realty Europe USD 16,785 0.01165 Norwegian Cruise Line Holdings USD 7,859 0.00388 Nuance Communications USD 5,926 0.00818 Nucor USD 41,521 0.02

1,150 NVIDIA USD 145,769 0.0713 NVR USD 27,379 0.01

1,777 Occidental Petroleum USD 93,276 0.04393 OGE Energy USD 11,995 0.01

4,741 Omega Healthcare Investors USD 137,244 0.07380 Omnicom Group USD 27,641 0.01275 ONEOK USD 12,572 0.01

6,255 Oracle USD 274,997 0.13231 O’Reilly Automotive USD 44,257 0.02733 PACCAR USD 42,437 0.02120 Packaging of America USD 11,687 0.01247 Palo Alto Networks USD 28,980 0.01

4,831 Paramount Group USD 67,764 0.03280 Parker-Hannifin USD 39,197 0.02783 Parkway USD 15,713 0.01659 Parsley Energy – A – USD 16,026 0.01147 Pattersons Cos USD 6,047 0.00795 Paychex USD 39,680 0.02

2,286 PayPal Holdings USD 107,587 0.051,577 Pennsylvania Real Estate Investment Trust USD 15,651 0.01

463 People’s United Financial USD 7,170 0.003,071 PepsiCo USD 310,971 0.15

12,517 Pfizer USD 368,622 0.181,125 PG&E USD 65,494 0.033,180 Philip Morris International USD 327,486 0.161,056 Phillips 66 USD 76,536 0.04






Currency Market

Value

% of

Net

Assets






635 Praxair USD 73,846 0.04105 Priceline Group USD 172,845 0.08793 Principal Financial Group USD 44,551 0.02

5,393 Procter & Gamble USD 412,114 0.201,203 Progressive USD 46,513 0.02

13,422 Prologis USD 690,091 0.331,015 Prudential Financial USD 96,283 0.05

427 PS Business Parks USD 49,611 0.02913 Public Service Enterprise Group USD 34,444 0.02

3,857 Public Storage USD 705,109 0.34205 PulteGroup USD 4,411 0.00140 PVH USD 14,019 0.01351 Qorvo USD 19,467 0.01


258 Quest Diagnostics USD 25,123 0.01247 Quintiles IMS Holdings USD 19,400 0.01155 Ralph Lauren USD 10,002 0.01

2,002 Ramco-Gershenson Properties Trust USD 22,644 0.01512 Range Resources USD 10,393 0.01209 Raymond James Financial USD 14,702 0.01558 Raytheon USD 79,052 0.04





2,582 Retail Opportunity Investments USD 43,451 0.026,033 Retail Properties of America – A – USD 64,583 0.031,604 Rexford Industrial Realty USD 38,589 0.021,775 Reynolds American USD 101,205 0.053,024 RLJ Lodging Trust USD 52,679 0.03

453 Robert Half International USD 19,035 0.01270 Rockwell Automation USD 38,319 0.02468 Rockwell Collins USD 43,108 0.02256 Roper Technologies USD 51,926 0.03990 Ross Stores USD 50,111 0.02284 Royal Caribbean Cruises USD 27,210 0.01576 S&P Global USD 73,690 0.04



2,841 Schlumberger USD 164,012 0.08101 Scripps Networks Interactive – A – USD 6,049 0.00823 Seagate Technology USD 27,966 0.01544 Sealed Air USD 21,335 0.01



5,272 Senior Housing Properties Trust USD 94,484 0.05134 Sensata Technologies Holding USD 5,008 0.00614 Seritage Growth Properties – A – USD 22,571 0.01373 ServiceNow USD 34,670 0.02154 Sherwin-Williams USD 47,362 0.02


7,803 Simon Property Group USD 1,106,710 0.535,469 Sirius XM Holdings USD 26,229 0.01




278






Currency Market

Value

% of

Net

Assets







83 Stericycle USD 5,524 0.003,895 Store Capital USD 76,664 0.04

710 Stryker USD 86,347 0.042,771 Summit Hotel Properties USD 45,310 0.021,739 Sun Communities USD 133,663 0.06


1,008 Symantec USD 24,962 0.011,862 Synchrony Financial USD 48,686 0.02


2,391 Tanger Factory Outlet Centers USD 54,453 0.03655 Targa Resources USD 25,974 0.01

1,218 Target USD 55,858 0.031,156 Taubman Centers USD 60,340 0.03

336 TD Ameritrade Holding USD 12,662 0.0150 Teleflex USD 9,199 0.00

1,100 Terreno Realty USD 32,467 0.02250 Tesla USD 79,359 0.04295 Tesoro USD 24,199 0.01

2,156 Texas Instruments USD 145,416 0.07796 Thermo Fisher Scientific USD 121,753 0.06

1,579 Tier REIT USD 25,581 0.01348 Tiffany & Co USD 28,606 0.01

1,641 Time Warner USD 144,471 0.071,274 TJX Cos USD 80,637 0.04

520 T-Mobile USD 27,623 0.0188 Toll Brothers USD 3,042 0.00

137 Torchmark USD 9,190 0.00454 Total System Services USD 23,201 0.01368 Tractor Supply USD 17,491 0.01



462 Tyson Foods – A – USD 25,343 0.016,848 UDR USD 233,994 0.11

313 UGI USD 13,280 0.01102 Ulta Salon Cosmetics & Fragrance USD 25,722 0.01396 Under Armour – A – USD 7,549 0.00174 Under Armour – C – USD 3,070 0.00




2,057 UnitedHealth Group USD 334,391 0.16247 Universal Health Services – B – USD 26,486 0.01656 Unum Group USD 26,804 0.01

2,575 Urban Edge Properties USD 53,582 0.033,618 US Bancorp USD 164,689 0.08


0 Varex Imaging USD 0 0.00263 Varian Medical Systems USD 23,759 0.01197 VCA USD 15,976 0.01259 Veeva Systems – A – USD 13,927 0.01








Currency Market

Value

% of

Net

Assets




4,507 Vornado Realty Trust USD 371,018 0.18255 Voya Financial USD 8,245 0.00213 Vulcan Materials USD 23,655 0.01


2,075 Walgreens Boots Alliance USD 142,492 0.073,187 Wal-Mart Stores USD 211,485 0.103,230 Walt Disney USD 300,859 0.143,955 Washington Prime Group USD 29,021 0.011,690 Washington Real Estate Investment Trust USD 47,275 0.021,033 Waste Management USD 66,437 0.03


2,628 Weingarten Realty Investors USD 69,346 0.0310,080 Wells Fargo & Co USD 489,686 0.23

9,414 Welltower USD 617,810 0.30391 Westar Energy USD 18,158 0.01663 Western Digital USD 51,510 0.02

1,354 Western Union USD 22,620 0.01700 WestRock USD 34,773 0.02

1,403 Weyerhaeuser USD 41,196 0.02183 Whirlpool USD 30,765 0.01885 Whole Foods Market USD 32,686 0.02

1,941 Williams Cos USD 51,518 0.02326 Workday – A – USD 27,693 0.01

2,381 WP Carey USD 137,785 0.07342 WR Berkley USD 20,733 0.01

67 WW Grainger USD 10,600 0.01302 Wyndham Worldwide USD 26,578 0.01225 Wynn Resorts USD 26,413 0.01946 Xcel Energy USD 38,058 0.02593 Xerox USD 14,950 0.01700 Xilinx USD 39,462 0.02493 Xylem USD 23,977 0.01631 Yum! Brands USD 40,795 0.02559 Zayo Group Holdings USD 15,139 0.01


1,146 Zoetis USD 62,661 0.03

54,760,075 26.15


Ex Japan EUR 11,140,828 5.32

11,140,828 5.32Ireland970,000 BlackRock Emerging Markets Index Fund

– AE – EUR 18,070,130 8.63





INVESTMENTS 208,306,093 99.47


279


AAMMF Verzekeringen Beleggingsfonds Offensief 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(26) 5-Years US Note Future 09/17 USD (2,703,494) 8,385 0.00(12) Bundesrepublik Deutschland Future BOBL 09/17 EUR (1,602,319) 15,330 0.01

1 Bundesrepublik Deutschland Future BUND 09/17 EUR 125,040 (1,856) (0.00)1 Bundesrepublik Deutschland Future SCHATZ 09/17 EUR 97,201 (252) (0.00)6 EURO STOXX 50 Index Future 09/17 EUR 195,580 (6,086) (0.00)2 FTSE 100 Index Future 09/17 GBP 161,145 (3,791) (0.00)3 S&P 500 E-mini Index Future 09/17 USD 357,452 (920) (0.00)0 S&P 500 Index Future 09/17 USD 116,511 (294) (0.00)1 Swiss Market Index Future 09/17 CHF 70,759 (191) (0.00)0 Topix Index Future 09/17 JPY 67,324 249 0.00



OTHER ASSETS LESS LIABILITIES 1,088,772 0.53




280


AAMMF Verzekeringen Beleggingsfonds ZeerOffensief 30-06-2017




Currency Market

Value

% of

Net

Assets




27,382 BHP Billiton GBP 366,737 0.20

366,737 0.20Austria

998 ANDRITZ EUR 52,658 0.033,273 Erste Group Bank EUR 109,713 0.061,689 OMV EUR 76,717 0.042,432 Raiffeisen Bank International EUR 53,750 0.031,027 voestalpine EUR 41,918 0.02

334,756 0.18Belgium


804 Colruyt EUR 37,083 0.021,081 Groupe Bruxelles Lambert EUR 91,155 0.053,440 KBC Group EUR 228,469 0.131,553 Proximus EUR 47,566 0.031,102 Solvay EUR 129,530 0.07

361 Telenet Group Holding EUR 19,894 0.011,950 UCB EUR 117,458 0.061,028 Umicore EUR 62,614 0.03

1,746,897 0.95Bermuda




92,502 0.05Canada

0 International Petroleum SEK 0 0.00260 lululemon Athletica USD 13,585 0.01613 Waste Connections USD 34,628 0.02

48,213 0.03Chile


58,993 0.03Denmark


1,337 Carlsberg – B – DKK 125,116 0.071,307 Chr Hansen Holding DKK 83,211 0.051,473 Coloplast – B – DKK 107,746 0.06

10,118 Danske Bank DKK 340,762 0.192,018 DONG Energy DKK 79,763 0.042,606 DSV DKK 140,182 0.08

786 Genmab DKK 146,876 0.081,136 H Lundbeck DKK 55,852 0.031,607 ISS DKK 55,257 0.03

23,055 Novo Nordisk – B – DKK 864,514 0.472,874 Novozymes – B – DKK 110,142 0.061,387 Pandora DKK 113,322 0.06

14,189 TDC DKK 72,253 0.04406 Tryg DKK 7,771 0.00


2,799,676 1.53Finland


75,946 Nokia EUR 406,690 0.221,898 Nokian Renkaat EUR 68,795 0.041,355 Orion – B – EUR 75,760 0.046,082 Sampo – A – EUR 272,875 0.156,192 Stora Enso – R – EUR 70,037 0.047,320 UPM-Kymmene EUR 182,705 0.101,983 Wartsila EUR 102,621 0.06

1,599,241 0.87






Currency Market

Value

% of

Net

Assets

SHARES EUR %France



843 Arkema EUR 78,753 0.041,347 Atos EUR 165,576 0.09

24,396 AXA EUR 584,277 0.3214,708 BNP Paribas EUR 927,500 0.51

7,514 Bollore EUR 29,915 0.022,920 Bouygues EUR 107,820 0.063,636 Bureau Veritas EUR 70,442 0.041,927 Capgemini EUR 174,358 0.097,368 Carrefour EUR 163,209 0.091,098 Casino Guichard Perrachon EUR 56,930 0.036,854 Cie de Saint-Gobain EUR 320,620 0.172,346 Cie Generale des Etablissements Michelin EUR 273,067 0.151,277 CNP Assurances EUR 25,102 0.01


38 Dassault Aviation EUR 46,421 0.031,425 Dassault Systemes EUR 111,859 0.062,834 Edenred EUR 64,694 0.041,008 Eiffage EUR 80,192 0.046,648 Electricite de France EUR 63,037 0.03


283 Eurazeo EUR 18,588 0.012,923 Eutelsat Communications EUR 65,359 0.04

320 Fonciere Des Regions EUR 25,977 0.01675 Gecina EUR 92,773 0.05

7,166 Groupe Eurotunnel EUR 66,919 0.04428 Hermes International EUR 185,344 0.10167 ICADE EUR 12,255 0.01395 Iliad EUR 81,763 0.04493 Imerys EUR 37,515 0.02740 Ingenico Group EUR 58,799 0.03618 Ipsen EUR 74,068 0.04

1,146 JCDecaux EUR 32,919 0.02947 Kering EUR 282,493 0.15

2,317 Klepierre EUR 83,162 0.051,026 Lagardere EUR 28,381 0.023,244 Legrand EUR 198,686 0.113,278 L’Oreal EUR 597,894 0.333,540 LVMH Moet Hennessy Louis Vuitton EUR 772,799 0.42






9,547 Societe Generale EUR 449,751 0.251,084 Sodexo EUR 122,750 0.073,578 Suez EUR 58,022 0.031,452 Thales EUR 136,805 0.07

30,773 TOTAL EUR 1,332,027 0.731,363 Unibail-Rodamco EUR 300,760 0.162,862 Valeo EUR 168,841 0.097,154 Veolia Environnement EUR 132,352 0.076,269 Vinci EUR 468,492 0.26



15,857,886 8.67Germany

2,329 adidas EUR 390,754 0.216,006 Allianz EUR 1,035,519 0.57



281






Currency Market

Value

% of

Net

Assets






2,647 Deutsche Boerse EUR 244,616 0.133,622 Deutsche Lufthansa EUR 72,175 0.04

12,303 Deutsche Post EUR 403,797 0.2242,603 Deutsche Telekom EUR 669,721 0.37

4,631 Deutsche Wohnen EUR 155,076 0.0930,106 E.ON EUR 248,310 0.14


Worldwide EUR 43,557 0.025,140 Fresenius & Co EUR 385,843 0.212,902 Fresenius Medical Care & Co EUR 244,271 0.131,065 FUCHS PETROLUB – Pref – EUR 50,792 0.032,508 GEA Group EUR 89,863 0.05



15,784 Infineon Technologies EUR 291,759 0.161,884 Innogy EUR 64,922 0.043,145 K+S EUR 70,506 0.041,403 LANXESS EUR 93,004 0.052,297 Linde EUR 380,885 0.21

483 MAN EUR 45,377 0.031,538 Merck EUR 162,677 0.092,929 METRO EUR 86,563 0.052,209 Muenchener



12,953 SAP EUR 1,184,532 0.65918 Schaeffler – Pref – EUR 11,507 0.01

9,793 Siemens EUR 1,178,575 0.641,891 Symrise EUR 117,250 0.065,676 Telefonica Deutschland Holding EUR 24,820 0.015,045 thyssenkrupp EUR 125,489 0.077,234 TUI GBP 92,187 0.051,579 United Internet EUR 76,043 0.04

310 Volkswagen EUR 42,129 0.022,545 Volkswagen – Pref – EUR 339,381 0.196,395 Vonovia EUR 222,338 0.121,449 Zalando EUR 57,974 0.03

14,830,552 8.11Ireland







1,388,426 0.76Italy


105,841 Enel EUR 496,817 0.2733,105 Eni EUR 435,658 0.24






Currency Market

Value

% of

Net

Assets

SHARES EUR %Italy (continued)


15,321 Intesa Sanpaolo – RSP – EUR 39,772 0.021,885 Luxottica Group EUR 95,459 0.055,664 Mediobanca EUR 48,937 0.037,165 Poste Italiane EUR 42,953 0.023,393 Prysmian EUR 87,384 0.051,718 Recordati EUR 61,022 0.038,347 Saipem EUR 26,995 0.02

31,206 Snam EUR 119,081 0.07127,449 Telecom Italia EUR 102,979 0.06

90,056 Telecom Italia – RSP – EUR 58,086 0.0319,918 Terna Rete Elettrica Nazionale EUR 94,130 0.0526,047 UniCredit EUR 425,876 0.2319,693 UnipolSai Assicurazioni EUR 37,634 0.02

3,146,357 1.72Jersey


97,131 0.05Jordan



8,648 ArcelorMittal EUR 171,748 0.09164 Eurofins Scientific EUR 80,783 0.05468 Millicom International Cellular – SDR – SEK 24,198 0.01636 RTL Group EUR 42,031 0.02


502,025 0.27Mexico

3,799 Fresnillo GBP 64,286 0.04



111 Core Laboratories USD 9,884 0.011,641 EXOR EUR 77,757 0.04

865 Gemalto EUR 45,446 0.033,134 Heineken EUR 266,845 0.151,436 Heineken Holding EUR 115,246 0.06



773 Koninklijke Vopak EUR 31,376 0.023,748 NN Group EUR 116,636 0.064,502 NXP Semiconductors USD 432,071 0.242,512 QIAGEN EUR 73,167 0.041,152 Randstad Holding EUR 58,880 0.03



6,660,355 3.64Norway






28,246 EDP - Energias de Portugal EUR 80,867 0.05


282






Currency Market

Value

% of

Net

Assets

SHARES EUR %Portugal (continued)

6,719 Galp Energia EUR 89,066 0.052,454 Jeronimo Martins EUR 41,935 0.02


10,175 Investec GBP 66,455 0.036,056 Mediclinic International GBP 51,145 0.035,487 Mondi GBP 125,846 0.07

243,446 0.13Spain





191,884 Banco Santander EUR 1,111,391 0.6117,766 Bankia EUR 75,187 0.04

7,202 Bankinter EUR 58,081 0.0349,219 CaixaBank EUR 205,734 0.11

6,639 Distribuidora Internacional deAlimentacion EUR 36,187 0.02

2,507 Enagas EUR 61,554 0.033,318 Endesa EUR 66,931 0.047,230 Ferrovial EUR 140,522 0.083,917 Gamesa Technologica EUR 73,226 0.043,799 Gas Natural SDG EUR 77,848 0.043,461 Grifols EUR 84,390 0.05

75,659 Iberdrola EUR 524,542 0.2914,195 Industria de Diseno Textil EUR 477,098 0.26

7,783 Mapfre EUR 23,799 0.015,310 Red Electrica EUR 97,153 0.05


5,339,266 2.92Sweden

4,876 Alfa Laval SEK 87,389 0.0513,746 Assa Abloy – B – SEK 264,484 0.14

9,209 Atlas Copco – A – SEK 309,215 0.175,351 Atlas Copco – B – SEK 161,935 0.09

237 Autoliv USD 22,793 0.012,868 Boliden SEK 68,535 0.043,538 Electrolux – B – SEK 101,546 0.067,102 Essity – B – SEK 170,157 0.091,443 Getinge – B – SEK 24,737 0.01

13,021 Hennes & Mauritz – B – SEK 284,105 0.162,989 Hexagon – B – SEK 124,418 0.074,610 Husqvarna – B – SEK 40,108 0.02






20,944 Svenska Handelsbanken – A – SEK 262,555 0.1410,811 Swedbank – A – SEK 230,712 0.13

2,186 Swedish Match SEK 67,406 0.045,572 Tele2 – B – SEK 51,084 0.03




630 Baloise Holding CHF 85,504 0.0514 Barry Callebaut CHF 17,329 0.01






Currency Market

Value

% of

Net

Assets


17 Chocoladefabriken Lindt & Spruengli CHF 85,494 0.051 Chocoladefabriken Lindt & Spruengli –

REG – CHF 74,485 0.041,040 Chubb USD 132,575 0.076,793 Cie Financiere Richemont CHF 491,319 0.272,999 Coca-Cola GBP 77,134 0.04




862 Lonza Group CHF 163,673 0.0940,240 Nestle CHF 3,074,412 1.6829,059 Novartis CHF 2,123,068 1.16


9,143 Roche Holding CHF 2,044,045 1.12584 Schindler Holding CHF 108,563 0.06301 Schindler Holding – REG – CHF 54,713 0.03

71 SGS CHF 150,579 0.0825 Sika CHF 142,765 0.08


156 Straumann Holding CHF 78,165 0.04437 Swatch Group CHF 141,565 0.08481 Swatch Group – REG – CHF 30,846 0.02440 Swiss Life Holding CHF 130,381 0.07719 Swiss Prime Site CHF 57,357 0.03

4,444 Swiss Re CHF 356,646 0.20355 Swisscom CHF 150,440 0.08749 TE Connectivity USD 51,670 0.03

47,608 UBS Group CHF 707,849 0.39448 Vifor Pharma CHF 43,365 0.02324 Weatherford International USD 1,099 0.00





579 Aon USD 67,491 0.047,458 Ashtead Group GBP 134,973 0.074,030 Associated British Foods GBP 134,739 0.07

16,465 AstraZeneca GBP 962,918 0.5313,226 Auto Trader Group GBP 57,239 0.0356,117 Aviva GBP 336,170 0.18




116,110 BT Group GBP 389,764 0.215,014 Bunzl GBP 130,656 0.076,019 Burberry Group GBP 113,868 0.06

11,082 Capita GBP 87,274 0.0571,427 Centrica GBP 162,857 0.0915,258 CNH Industrial EUR 151,281 0.0839,709 Cobham GBP 58,610 0.03



32,971 Diageo GBP 851,831 0.4718,167 Direct Line Insurance Group GBP 73,532 0.0414,635 Dixons Carphone GBP 47,269 0.03

2,660 easyJet GBP 41,172 0.0212,935 Experian GBP 232,029 0.13


283






Currency Market

Value

% of

Net

Assets


11,807 Fiat Chrysler Automobiles EUR 108,979 0.0621,279 G4S GBP 79,100 0.0425,510 GKN GBP 94,711 0.0562,850 GlaxoSmithKline GBP 1,170,668 0.6411,850 Hammerson GBP 77,536 0.04


1,098 IHS Markit USD 42,390 0.024,506 IMI GBP 61,330 0.03

12,614 Imperial Brands GBP 495,423 0.277,134 Inmarsat GBP 62,518 0.031,987 InterContinental Hotels Group GBP 96,556 0.05

10,452 International Consolidated Airlines Group EUR 72,630 0.041,914 Intertek Group GBP 91,918 0.05


2,594 Johnson Matthey GBP 84,831 0.0524,601 Kingfisher GBP 84,250 0.05


871 Liberty Global – A – USD 24,537 0.011,289 Liberty Global – C – USD 35,239 0.02

929,923 Lloyds Banking Group GBP 700,576 0.384,103 London Stock Exchange Group GBP 170,364 0.09

15,910 Marks & Spencer Group GBP 60,393 0.0312,745 Meggitt GBP 69,222 0.0411,166 Merlin Entertainments GBP 61,104 0.03





32,600 Prudential GBP 653,818 0.368,655 Reckitt Benckiser Group GBP 767,246 0.42

13,248 RELX (traded in Netherlands) EUR 238,456 0.1314,819 RELX (traded in United Kingdom) GBP 280,154 0.1516,103 Rio Tinto GBP 594,560 0.3322,185 Rolls-Royce Holdings GBP 225,119 0.1248,644 Royal Bank of Scotland Group GBP 136,949 0.0812,343 Royal Mail GBP 59,208 0.0310,371 RSA Insurance Group GBP 72,699 0.0414,815 Sage Group GBP 116,081 0.06


3,625 Severn Trent GBP 90,071 0.0513,183 Sky GBP 149,235 0.0810,589 Smith & Nephew GBP 159,784 0.09

5,908 Smiths Group GBP 107,457 0.0613,876 SSE GBP 229,611 0.13

6,957 St James’s Place GBP 93,655 0.0545,047 Standard Chartered GBP 398,729 0.2229,567 Standard Life GBP 134,389 0.07




16,702 Unilever GBP 790,343 0.4321,417 Unilever – CVA – EUR 1,034,866 0.5710,187 United Utilities Group GBP 100,650 0.06




1,423 3M USD 259,791 0.14






Currency Market

Value

% of

Net

Assets


3,903 Abbott Laboratories USD 166,361 0.093,866 AbbVie USD 245,756 0.131,622 Activision Blizzard USD 81,872 0.04


200 Advance Auto Parts USD 20,492 0.012,449 Advanced Micro Devices USD 26,797 0.012,016 AES USD 19,636 0.01

896 Aetna USD 119,293 0.07148 Affiliated Managers Group USD 21,572 0.01823 Aflac USD 56,057 0.03138 AGCO USD 8,146 0.00879 Agilent Technologies USD 45,701 0.02

1,029 AGNC Investment USD 19,210 0.01527 Air Products & Chemicals USD 66,054 0.04537 Akamai Technologies USD 23,456 0.01343 Albemarle USD 31,781 0.02143 Alexandria Real Estate Equities USD 15,154 0.01622 Alexion Pharmaceuticals USD 66,364 0.04204 Align Technology USD 26,867 0.01


77 Alliance Data Systems USD 17,378 0.01694 Alliant Energy USD 24,450 0.01943 Allstate USD 73,095 0.04840 Ally Financial USD 15,390 0.01699 Alphabet – A – USD 569,432 0.31734 Alphabet – C – USD 585,128 0.32


18 AMERCO USD 5,707 0.00552 Ameren USD 26,457 0.01512 American Airlines Group USD 22,568 0.01

1,211 American Electric Power USD 73,781 0.041,774 American Express USD 130,990 0.07

201 American Financial Group USD 17,487 0.012,299 American International Group USD 126,030 0.07


1,669 Amgen USD 252,031 0.14836 Amphenol – A – USD 54,091 0.03

1,387 Anadarko Petroleum USD 55,145 0.03882 Analog Devices USD 60,164 0.03

1,568 Annaly Capital Management USD 16,568 0.01269 Ansys USD 28,689 0.02275 Antero Resources USD 5,201 0.00619 Anthem USD 102,172 0.06141 AO Smith USD 6,941 0.00968 Apache USD 40,689 0.02

12,143 Apple USD 1,533,355 0.842,343 Applied Materials USD 84,862 0.05

706 Aramark USD 25,354 0.011,301 Archer-Daniels-Midland USD 47,209 0.031,091 Arconic USD 21,661 0.01


541 Arthur J Gallagher & Co USD 27,167 0.0172 Assurant USD 6,555 0.00

14,661 AT&T USD 484,990 0.27281 Atmos Energy USD 20,461 0.01421 Autodesk USD 37,207 0.02945 Automatic Data Processing USD 84,923 0.05146 AutoNation USD 5,402 0.00

85 AutoZone USD 42,640 0.02290 AvalonBay Communities USD 48,838 0.03102 Avery Dennison USD 7,908 0.00

49 Avnet USD 1,677 0.00138 Axalta Coating Systems USD 3,880 0.00757 Baker Hughes USD 36,158 0.02

1,011 Ball USD 37,428 0.0223,489 Bank of America USD 499,616 0.27

2,264 Bank of New York Mellon USD 101,290 0.06978 Baxter International USD 51,937 0.03

1,888 BB&T USD 75,169 0.04535 Becton Dickinson & Co USD 91,462 0.05


284






Currency Market

Value

% of

Net

Assets


463 Bed Bath & Beyond USD 12,348 0.012,897 Berkshire Hathaway – B – USD 430,223 0.24

870 Best Buy USD 43,722 0.02502 Biogen USD 119,499 0.07497 BioMarin Pharmaceutical USD 39,548 0.02282 BlackRock USD 104,285 0.06

1,379 Boeing USD 239,120 0.13303 BorgWarner USD 11,245 0.01444 Boston Properties USD 47,869 0.03

3,232 Boston Scientific USD 78,547 0.043,965 Bristol-Myers Squibb USD 193,681 0.11

931 Brixmor Property Group USD 14,594 0.01970 Broadcom USD 198,139 0.11333 Broadridge Financial Solutions USD 22,075 0.01672 Brown-Forman – B – USD 28,616 0.02428 Bunge USD 28,008 0.02956 CA USD 28,901 0.02

1,259 Cabot Oil & Gas USD 27,681 0.02405 Cadence Design Systems USD 11,880 0.01272 Camden Property Trust USD 20,399 0.01615 Campbell Soup USD 28,111 0.02

1,119 Capital One Financial USD 81,060 0.04739 Cardinal Health USD 50,489 0.03593 CarMax USD 32,780 0.02

2,384 Carnival (traded in United Kingdom) GBP 137,935 0.08784 Carnival (traded in United States) USD 45,049 0.02

1,400 Caterpillar USD 131,914 0.07272 CBOE Holdings USD 21,784 0.01924 CBRE Group – A – USD 29,478 0.02976 CBS – B – USD 54,566 0.03387 CDK Global USD 21,060 0.01225 CDW USD 12,339 0.01420 Celanese – A – USD 34,996 0.02


1,252 CenterPoint Energy USD 30,044 0.02941 CenturyLink USD 19,701 0.01538 Cerner USD 31,358 0.02298 CF Industries Holdings USD 7,303 0.00245 CH Robinson Worldwide USD 14,741 0.01

2,797 Charles Schwab USD 105,353 0.06504 Charter Communications – A – USD 148,788 0.08298 Cheniere Energy USD 12,733 0.01

4,422 Chevron USD 404,470 0.2239 Chipotle Mexican Grill USD 14,218 0.01





538 Colony NorthStar – A – USD 6,641 0.0011,042 Comcast – A – USD 376,813 0.21



72 Cooper Cos USD 15,084 0.011,968 Corning USD 51,861 0.03

40 CoStar Group USD 9,176 0.011,000 Costco Wholesale USD 140,173 0.081,483 Coty – A – USD 24,391 0.01

139 CR Bard USD 38,413 0.02758 Crown Castle International USD 66,538 0.04






Currency Market

Value

% of

Net

Assets


205 Crown Holdings USD 10,715 0.012,267 CSX USD 108,457 0.06

316 Cummins USD 44,899 0.022,257 CVS Health USD 159,187 0.091,619 Danaher USD 119,779 0.07

363 Darden Restaurants USD 28,818 0.02505 DaVita USD 28,698 0.02678 Deere & Co USD 73,456 0.04682 Dell Technologies – V – USD 36,543 0.02590 Delta Air Lines USD 27,809 0.02385 Dentsply Sirona USD 21,879 0.01

1,044 Devon Energy USD 29,256 0.0273 DexCom USD 4,687 0.00

101 Diamondback Energy USD 7,871 0.002 Dick’s Sporting Goods USD 77 0.00

308 Digital Realty Trust USD 30,466 0.02981 Discover Financial Services USD 53,485 0.03270 Discovery Communications – A – USD 6,118 0.00141 Discovery Communications – C – USD 3,112 0.00450 DISH Network – A – USD 24,742 0.01520 Dollar General USD 32,886 0.02653 Dollar Tree USD 40,049 0.02


417 Dover USD 29,347 0.022,668 Dow Chemical USD 147,518 0.08

964 DR Horton USD 29,229 0.02497 Dr Pepper Snapple Group USD 39,733 0.02353 DTE Energy USD 32,737 0.02

1,548 Duke Energy USD 113,431 0.06688 Duke Realty USD 16,857 0.01696 DXC Technology USD 46,811 0.03379 E*TRADE Financial USD 12,638 0.01389 East West Bancorp USD 19,967 0.01455 Eastman Chemical USD 33,489 0.02

1,179 Eaton USD 80,449 0.0480 Eaton Vance USD 3,305 0.00

2,367 eBay USD 72,459 0.04572 Ecolab USD 66,624 0.04667 Edison International USD 45,721 0.02413 Edwards Lifesciences USD 42,827 0.02


2,369 Eli Lilly & Co USD 170,948 0.091,718 Emerson Electric USD 89,791 0.05


1,250 EOG Resources USD 99,230 0.05231 EQT USD 11,850 0.01222 Equifax USD 26,795 0.01180 Equinix USD 67,640 0.04873 Equity Residential USD 50,415 0.03114 Essex Property Trust USD 25,769 0.01584 Estee Lauders Cos – A – USD 49,154 0.03623 Eversource Energy USD 33,166 0.02


1,337 Express Scripts Holding USD 74,850 0.04383 Extra Space Storage USD 26,203 0.01

9,771 Exxon Mobil USD 691,642 0.38205 F5 Networks USD 22,821 0.01

5,552 Facebook – A – USD 735,001 0.40582 Fastenal USD 22,219 0.01223 Federal Realty Investment Trust USD 24,725 0.01554 FedEx USD 105,592 0.06845 Fidelity National Information Services USD 63,251 0.03

2,115 Fifth Third Bancorp USD 48,134 0.03448 First Republic Bank USD 39,335 0.02868 FirstEnergy USD 22,201 0.01428 Fiserv USD 45,880 0.03266 FleetCor Technologies USD 33,601 0.02

1,679 Flex USD 24,003 0.01238 FLIR Systems USD 7,247 0.00

90 Flowserve USD 3,659 0.00379 Fluor USD 15,213 0.01399 FMC USD 25,570 0.01755 FNF Group USD 29,661 0.02


285






Currency Market

Value

% of

Net

Assets


416 Foot Locker USD 17,986 0.019,869 Ford Motor USD 96,827 0.05


4,049 Freeport-McMoRan USD 42,639 0.0240 Gap USD 766 0.00

257 Gartner USD 27,802 0.0220,827 General Electric USD 493,225 0.27

1,469 General Mills USD 71,356 0.043,546 General Motors USD 108,585 0.06

458 Genuine Parts USD 37,223 0.021,756 GGP USD 36,278 0.023,089 Gilead Sciences USD 191,702 0.10

471 Global Payments USD 37,305 0.02894 Goldman Sachs Group USD 173,968 0.10444 Goodyear Tire & Rubber USD 13,603 0.01681 H&R Block USD 18,457 0.01

2,199 Halliburton USD 82,338 0.04957 Hanesbrands USD 19,428 0.01290 Harley-Davidson USD 13,752 0.01200 Harris USD 19,126 0.01813 Hartford Financial Services Group USD 37,487 0.02227 Hasbro USD 22,219 0.01614 HCA Healthcare USD 46,929 0.03

1,144 HCP USD 32,066 0.02544 HD Supply Holdings USD 14,607 0.01104 Helmerich & Payne USD 4,955 0.00218 Henry Schein USD 34,943 0.02285 Hershey USD 26,806 0.01872 Hess USD 33,541 0.02

3,550 Hewlett Packard Enterprise USD 51,633 0.03555 Hilton Worldwide Holdings USD 30,103 0.02118 HollyFrontier USD 2,845 0.00768 Hologic USD 30,548 0.02

2,821 Home Depot USD 379,435 0.211,722 Honeywell International USD 201,198 0.11

425 Hormel Foods USD 12,719 0.011,557 Host Hotels & Resorts USD 24,940 0.013,965 HP USD 60,764 0.03


58 Huntington Ingalls Industries USD 9,462 0.01206 IDEX USD 20,394 0.01274 IDEXX Laboratories USD 38,748 0.02745 Illinois Tool Works USD 93,523 0.05398 Illumina USD 60,552 0.03483 Incyte USD 53,323 0.03651 Ingersoll-Rand USD 52,132 0.03220 Ingredion USD 23,015 0.01



1,231 Interpublic Group of Cos USD 26,552 0.01505 Intuit USD 58,797 0.03

86 Intuitive Surgical USD 70,715 0.04659 Invesco USD 20,329 0.01763 Iron Mountain USD 22,998 0.01209 Jack Henry & Associates USD 19,055 0.01101 Jacobs Engineering Group USD 4,797 0.00126 JB Hunt Transport Services USD 10,129 0.01222 JM Smucker USD 23,047 0.01

6,397 Johnson & Johnson USD 742,022 0.412,538 Johnson Controls International USD 96,472 0.05



1,963 KeyCorp USD 32,246 0.02751 Kimberly-Clark USD 85,036 0.05

1,321 Kimco Realty USD 21,256 0.014,249 Kinder Morgan USD 71,379 0.04







Currency Market

Value

% of

Net

Assets


1,338 Kraft Heinz USD 100,465 0.051,880 Kroger USD 38,433 0.02

746 L Brands USD 35,264 0.02128 L3 Technologies USD 18,805 0.01313 Laboratory of America Holdings USD 42,334 0.02343 Lam Research USD 42,528 0.02786 Las Vegas Sands USD 44,004 0.02226 Lear USD 28,128 0.02285 Leggett & Platt USD 13,137 0.01385 Leidos Holdings USD 17,464 0.01357 Lennar – A – USD 16,671 0.01104 Lennox International USD 16,786 0.01449 Leucadia National USD 10,291 0.01596 Level 3 Communications USD 30,964 0.02333 Liberty Broadband – C – USD 25,326 0.01



– USD 19,842 0.01448 Liberty Property Trust USD 15,980 0.01453 Lincoln National USD 26,816 0.01430 LKQ USD 12,413 0.01612 Lockheed Martin USD 148,990 0.08550 Loews USD 22,583 0.01

1,944 Lowe’s Cos USD 132,163 0.07690 LyondellBasell Industries – A – USD 51,040 0.03366 M&T Bank USD 51,984 0.03372 Macerich USD 18,947 0.01338 Macquarie Infrastructure USD 23,223 0.01253 Macy’s USD 5,157 0.00288 Mallinckrodt USD 11,321 0.01265 ManpowerGroup USD 25,895 0.01


27 Markel USD 23,342 0.01811 Marriott International – A – USD 71,316 0.04

1,383 Marsh & McLennan Cos USD 94,552 0.05185 Martin Marietta Materials USD 36,032 0.02889 Masco USD 29,769 0.02

2,318 Mastercard – A – USD 246,872 0.13817 Mattel USD 15,431 0.01532 Maxim Integrated Products USD 20,942 0.01164 McCormick & Co USD 13,994 0.01


61 MEDNAX USD 3,236 0.006,371 Merck & Co USD 358,006 0.202,025 MetLife USD 97,562 0.05

71 Mettler-Toledo International USD 36,827 0.021,383 MGM Resorts International USD 37,943 0.02


16,944 Microsoft USD 1,024,007 0.56181 Mid-America Apartment Communities USD 16,722 0.01251 Middleby USD 26,755 0.01126 Mohawk Industries USD 26,634 0.01511 Molson Coors Brewing – B – USD 38,648 0.02

3,391 Mondelez International – A – USD 128,405 0.07934 Monsanto USD 96,964 0.05

1,073 Monster Beverage USD 46,726 0.03379 Moody’s USD 40,383 0.02

3,280 Morgan Stanley USD 128,129 0.071,017 Mosaic USD 20,351 0.01

407 Motorola Solutions USD 30,917 0.02356 MSCI USD 32,135 0.02174 Murphy Oil USD 3,908 0.00778 Mylan USD 26,488 0.01228 Nasdaq USD 14,306 0.01936 National Oilwell Varco USD 27,021 0.01109 National Retail Properties USD 3,724 0.00820 Navient USD 11,976 0.01884 NetApp USD 31,057 0.02

1,020 Netflix USD 133,665 0.07472 New York Community Bancorp USD 5,434 0.00975 Newell Brands USD 45,840 0.03607 Newfield Exploration USD 15,153 0.01

1,029 Newmont Mining USD 29,226 0.02


286






Currency Market

Value

% of

Net

Assets


1,186 News – A – USD 14,252 0.011,041 NextEra Energy USD 127,907 0.07

582 Nielsen Holdings USD 19,741 0.013,348 NIKE – B – USD 173,204 0.09

873 NiSource USD 19,422 0.011,314 Noble Energy USD 32,607 0.02

19 Nordstrom USD 776 0.00719 Norfolk Southern USD 76,725 0.04468 Northern Trust USD 39,902 0.02445 Northrop Grumman USD 100,109 0.05183 Norwegian Cruise Line Holdings USD 8,719 0.00431 Nuance Communications USD 6,574 0.00908 Nucor USD 46,062 0.03

1,276 NVIDIA USD 161,712 0.0914 NVR USD 30,374 0.02

1,971 Occidental Petroleum USD 103,478 0.06436 OGE Energy USD 13,307 0.01422 Omnicom Group USD 30,664 0.02305 ONEOK USD 13,947 0.01

6,940 Oracle USD 305,074 0.17256 O’Reilly Automotive USD 49,097 0.03813 PACCAR USD 47,078 0.03133 Packaging of America USD 12,965 0.01274 Palo Alto Networks USD 32,149 0.02310 Parker-Hannifin USD 43,484 0.02731 Parsley Energy – A – USD 17,779 0.01163 Pattersons Cos USD 6,708 0.00882 Paychex USD 44,021 0.02

2,536 PayPal Holdings USD 119,354 0.07514 People’s United Financial USD 7,954 0.00

3,407 PepsiCo USD 344,983 0.1913,886 Pfizer USD 408,939 0.22

1,249 PG&E USD 72,657 0.043,528 Philip Morris International USD 363,304 0.201,171 Phillips 66 USD 84,908 0.05




705 Praxair USD 81,923 0.04117 Priceline Group USD 191,749 0.10880 Principal Financial Group USD 49,423 0.03

5,983 Procter & Gamble USD 457,188 0.251,335 Progressive USD 51,600 0.031,197 Prologis USD 61,553 0.031,127 Prudential Financial USD 106,814 0.061,013 Public Service Enterprise Group USD 38,211 0.02

348 Public Storage USD 63,685 0.03227 PulteGroup USD 4,893 0.00155 PVH USD 15,552 0.01389 Qorvo USD 21,596 0.01

3,539 QUALCOMM USD 171,329 0.09286 Quest Diagnostics USD 27,871 0.02274 Quintiles IMS Holdings USD 21,522 0.01171 Ralph Lauren USD 11,096 0.01568 Range Resources USD 11,529 0.01232 Raymond James Financial USD 16,310 0.01619 Raytheon USD 87,699 0.05788 Realty Income USD 38,135 0.02308 Red Hat USD 25,827 0.01516 Regency Centers USD 28,361 0.02161 Regeneron Pharmaceuticals USD 69,437 0.04



1,969 Reynolds American USD 112,275 0.06502 Robert Half International USD 21,117 0.01299 Rockwell Automation USD 42,510 0.02519 Rockwell Collins USD 47,823 0.03284 Roper Technologies USD 57,605 0.03

1,098 Ross Stores USD 55,592 0.03315 Royal Caribbean Cruises USD 30,186 0.02639 S&P Global USD 81,749 0.04

37 Sabre USD 697 0.00






Currency Market

Value

% of

Net

Assets



3,152 Schlumberger USD 181,950 0.10112 Scripps Networks Interactive – A – USD 6,711 0.00913 Seagate Technology USD 31,025 0.02603 Sealed Air USD 23,668 0.01

67 Seattle Genetics USD 3,039 0.00126 SEI Investments USD 5,949 0.00563 Sempra Energy USD 55,696 0.03148 Sensata Technologies Holding USD 5,556 0.00414 ServiceNow USD 38,462 0.02171 Sherwin-Williams USD 52,542 0.03


680 Simon Property Group USD 96,487 0.056,067 Sirius XM Holdings USD 29,097 0.02

330 Skyworks Solutions USD 27,787 0.02315 SL Green Realty USD 29,215 0.02224 Snap-on USD 31,077 0.02

2,160 Southern USD 90,659 0.05186 Southwest Airlines USD 10,112 0.01172 Splunk USD 8,590 0.00

2,721 Sprint USD 19,585 0.01465 SS&C Technologies Holdings USD 15,660 0.01459 Stanley Black & Decker USD 56,654 0.03264 Staples USD 2,329 0.00


92 Stericycle USD 6,128 0.00787 Stryker USD 95,791 0.05

1,027 SunTrust Banks USD 51,070 0.03141 SVB Financial Group USD 21,775 0.01

1,118 Symantec USD 27,692 0.022,066 Synchrony Financial USD 54,011 0.03

259 Synopsys USD 16,572 0.011,035 Sysco USD 45,671 0.02

511 T Rowe Price Group USD 33,250 0.02727 Targa Resources USD 28,815 0.02

1,352 Target USD 61,967 0.03373 TD Ameritrade Holding USD 14,047 0.01

56 Teleflex USD 10,205 0.01278 Tesla USD 88,039 0.05327 Tesoro USD 26,846 0.01

2,392 Texas Instruments USD 161,321 0.09883 Thermo Fisher Scientific USD 135,069 0.07386 Tiffany & Co USD 31,735 0.02

1,821 Time Warner USD 160,272 0.091,414 TJX Cos USD 89,457 0.05

577 T-Mobile USD 30,644 0.0297 Toll Brothers USD 3,375 0.00

152 Torchmark USD 10,195 0.01504 Total System Services USD 25,739 0.01408 Tractor Supply USD 19,404 0.01



512 Tyson Foods – A – USD 28,115 0.02817 UDR USD 27,922 0.02347 UGI USD 14,733 0.01113 Ulta Salon Cosmetics & Fragrance USD 28,535 0.02439 Under Armour – A – USD 8,374 0.00193 Under Armour – C – USD 3,406 0.00




2,282 UnitedHealth Group USD 370,964 0.20275 Universal Health Services – B – USD 29,383 0.02727 Unum Group USD 29,736 0.02

4,013 US Bancorp USD 182,701 0.10


287






Currency Market

Value

% of

Net

Assets


108 Vail Resorts USD 19,189 0.011,100 Valero Energy USD 65,077 0.04

478 Vantiv – A – USD 26,554 0.010 Varex Imaging USD 0 0.00

291 Varian Medical Systems USD 26,357 0.01219 VCA USD 17,723 0.01287 Veeva Systems – A – USD 15,450 0.01815 Ventas USD 49,649 0.03

2,953 VEREIT USD 21,073 0.01287 VeriSign USD 23,367 0.01531 Verisk Analytics USD 39,244 0.02



520 Vornado Realty Trust USD 42,795 0.02283 Voya Financial USD 9,147 0.01236 Vulcan Materials USD 26,243 0.01


2,302 Walgreens Boots Alliance USD 158,077 0.093,536 Wal-Mart Stores USD 234,616 0.133,583 Walt Disney USD 333,765 0.181,146 Waste Management USD 73,704 0.04


11,182 Wells Fargo & Co USD 543,245 0.30855 Welltower USD 56,108 0.03433 Westar Energy USD 20,144 0.01736 Western Digital USD 57,144 0.03

1,502 Western Union USD 25,094 0.01777 WestRock USD 38,577 0.02

1,556 Weyerhaeuser USD 45,702 0.02203 Whirlpool USD 34,130 0.02982 Whole Foods Market USD 36,261 0.02

2,153 Williams Cos USD 57,153 0.03361 Workday – A – USD 30,721 0.02379 WR Berkley USD 23,000 0.01

74 WW Grainger USD 11,759 0.01335 Wyndham Worldwide USD 29,485 0.02249 Wynn Resorts USD 29,302 0.02

1,050 Xcel Energy USD 42,221 0.02658 Xerox USD 16,585 0.01776 Xilinx USD 43,778 0.02547 Xylem USD 26,600 0.01700 Yum! Brands USD 45,257 0.02620 Zayo Group Holdings USD 16,795 0.01


1,271 Zoetis USD 69,515 0.04

44,079,804 24.09


Ex Japan EUR 11,511,365 6.29

11,511,365 6.29Ireland

1,080,000 BlackRock Emerging Markets Index Fund– AE – EUR 20,119,320 11.00

20,119,320 11.00Luxembourg



INVESTMENTS 181,305,851 99.09


288


AAMMF Verzekeringen Beleggingsfonds Zeer Offensief 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets6 EURO STOXX 50 Index Future 09/17 EUR 200,429 (6,297) (0.01)2 FTSE 100 Index Future 09/17 GBP 160,615 (3,780) (0.00)2 S&P 500 E-mini Index Future 09/17 USD 232,658 (490) (0.00)0 S&P 500 Index Future 09/17 USD 129,254 (325) (0.00)1 Swiss Market Index Future 09/17 CHF 79,209 (214) (0.00)







289


AAMMF Global Property Index 30-06-2017




Currency Market

Value

% of

Net

Assets


31 BWP Trust AUD 62 0.0719 Charter Hall Retail REIT AUD 52 0.06

113 Cromwell Property Group AUD 72 0.0972 Dexus AUD 462 0.56

130 Goodman Group AUD 686 0.83130 GPT Group AUD 418 0.50

34 Investa Office Fund AUD 101 0.12261 Mirvac Group AUD 374 0.45383 Scentre Group AUD 1,043 1.25

41 Shopping Centres Australasia Property Group AUD 60 0.07167 Stockland AUD 493 0.59182 Vicinity Centres AUD 314 0.38138 Westfield AUD 744 0.90

4,881 5.87Austria

8 BUWOG EUR 190 0.2359 IMMOFINANZ EUR 118 0.14

308 0.37Belgium

1 Cofinimmo EUR 145 0.17

145 0.17Brazil


358 0.43Canada


11 Artis Real Estate Investment Trust CAD 95 0.113 Boardwalk Real Estate Investment Trust CAD 86 0.10

10 Canadian Apartment Properties REIT CAD 231 0.286 Canadian Real Estate Investment Trust CAD 172 0.21

14 Chartwell Retirement Residences CAD 142 0.1712 Cominar Real Estate Investment Trust CAD 107 0.13

8 Dream Office Real Estate Investment Trust CAD 110 0.1310 First Capital Realty CAD 139 0.17

3 Granite Real Estate Investment CAD 102 0.1221 H&R Real Estate Investment Trust CAD 315 0.3816 Pure Industrial Real Estate Trust CAD 74 0.0923 RioCan Real Estate Investment Trust CAD 367 0.44

8 Smart Real Estate Investment Trust CAD 165 0.20

2,276 2.74France

2 Fonciere Des Regions EUR 191 0.232 Gecina EUR 335 0.403 ICADE EUR 181 0.22

15 Klepierre EUR 544 0.666 Unibail-Rodamco (traded in France) EUR 1,308 1.571 Unibail-Rodamco (traded in Netherlands) EUR 169 0.20

2,728 3.28Germany

10 alstria office REIT EUR 113 0.144 Deutsche Euroshop EUR 127 0.15

24 Deutsche Wohnen EUR 810 0.984 LEG Immobilien EUR 335 0.409 TAG Immobilien EUR 123 0.15

31 Vonovia EUR 1,090 1.31

2,598 3.13Hong Kong

49 Hang Lung Group HKD 178 0.21163 Hang Lung Properties HKD 357 0.43

81 Henderson Land Development HKD 398 0.4887 Hongkong Land Holdings USD 561 0.6745 Hysan Development HKD 189 0.23

157 Link REIT HKD 1,046 1.26229 Sino Land HKD 329 0.39

83 Swire Properties HKD 239 0.2988 Wharf Holdings HKD 641 0.7761 Wheelock & Co HKD 405 0.49

4,343 5.22Japan

0 Activia Properties JPY 169 0.200 Advance Residence Investment JPY 220 0.267 Aeon Mall JPY 124 0.15






Currency Market

Value

% of

Net

Assets


0 AEON REIT Investment JPY 88 0.1146 Daiwa House Industry JPY 1,361 1.64

0 Daiwa House REIT Investment JPY 219 0.260 Daiwa Office Investment JPY 124 0.150 Frontier Real Estate Investment JPY 123 0.150 GLP J-REIT JPY 179 0.22

41 Hulic JPY 364 0.440 Hulic REIT JPY 93 0.110 Industrial & Infrastructure Fund Investment JPY 95 0.110 Invincible Investment JPY 98 0.120 Japan Excellent JPY 79 0.100 Japan Hotel REIT Investment JPY 160 0.190 Japan Logistics Fund JPY 126 0.150 Japan Prime Realty Investment JPY 195 0.230 Japan Real Estate Investment JPY 414 0.500 Japan Rental Housing Investments JPY 83 0.100 Japan Retail Fund Investment JPY 301 0.360 Kenedix Office Investment JPY 145 0.170 Kenedix Retail REIT JPY 61 0.070 LaSalle Logiport REIT JPY 72 0.09


0 Mori Hills REIT Investment JPY 118 0.140 Mori Trust Sogo REIT JPY 89 0.110 Nippon Accommodations Fund JPY 125 0.150 Nippon Building Fund JPY 434 0.520 Nippon Prologis REIT JPY 211 0.251 Nomura Real Estate Master Fund JPY 331 0.409 NTT Urban Development JPY 75 0.090 Orix JREIT JPY 237 0.290 Premier Investment JPY 68 0.08

33 Sumitomo Realty & Development JPY 878 1.0615 Tokyo Tatemono JPY 171 0.21

0 United Urban Investment JPY 265 0.32


8 Grand City Properties EUR 138 0.17

138 0.17Mexico

207 Fibra Uno Administracion MXN 345 0.42

345 0.42Netherlands

3 Wereldhave EUR 110 0.13

110 0.13Philippines

715 SM Prime Holdings PHP 410 0.49

410 0.49Romania


179 0.22Singapore

177 Ascendas Real Estate Investment Trust SGD 294 0.35189 CapitaLand SGD 422 0.51158 CapitaLand Commercial Trust SGD 167 0.20199 CapitaLand Mall Trust SGD 250 0.30

35 City Developments SGD 243 0.29198 Global Logistic Properties SGD 361 0.44

98 Mapletree Commercial Trust SGD 100 0.12173 Suntec Real Estate Investment Trust SGD 205 0.25


172 Growthpoint Properties ZAR 281 0.3417 Hyprop Investments ZAR 133 0.16

376 Redefine Properties ZAR 265 0.3219 Resilient REIT ZAR 155 0.18

834 1.00Spain

18 Inmobiliaria Colonial EUR 133 0.1622 Merlin Properties Socimi EUR 245 0.29

378 0.45Sweden

17 Castellum SEK 225 0.2710 Fabege SEK 161 0.19


290






Currency Market

Value

% of

Net

Assets


6 Fastighets Balder – B – SEK 131 0.167 Hufvudstaden – A – SEK 106 0.13

623 0.75Switzerland

2 PSP Swiss Property CHF 211 0.255 Swiss Prime Site CHF 394 0.48

605 0.73United Kingdom

76 British Land GBP 525 0.6335 Capital & Counties Properties GBP 118 0.14

8 Derwent London GBP 246 0.3023 Great Portland Estates GBP 155 0.1951 Hammerson GBP 335 0.4048 Intu Properties GBP 147 0.18

6 Kennedy Wilson Europe Real Estate GBP 69 0.0854 Land Securities Group GBP 619 0.7563 Segro GBP 353 0.4212 Shaftesbury GBP 137 0.1782 Tritax Big Box REIT GBP 136 0.1616 UNITE Group GBP 119 0.14


6 Acadia Realty Trust USD 148 0.182 Agree Realty USD 93 0.116 Alexandria Real Estate Equities USD 679 0.823 American Assets Trust USD 86 0.10

10 American Campus Communities USD 399 0.4817 American Homes 4 Rent – A – USD 340 0.4112 Apartment Investment & Management – A – USD 433 0.5216 Apple Hospitality REIT USD 259 0.31

6 Ashford Hospitality Trust USD 33 0.0410 AvalonBay Communities USD 1,674 2.0111 Boston Properties USD 1,166 1.4012 Brandywine Realty Trust USD 191 0.2321 Brixmor Property Group USD 321 0.3916 Brookfield Property Partners CAD 336 0.40

6 Camden Property Trust USD 477 0.576 Care Capital Properties USD 146 0.185 CareTrust REIT USD 81 0.10

14 CBL & Associates Properties USD 104 0.133 Chatham Lodging Trust USD 51 0.064 Chesapeake Lodging Trust USD 89 0.118 Colony Starwood Homes USD 230 0.289 Columbia Property Trust USD 184 0.227 Corporate Office Properties Trust USD 206 0.25

32 Cousins Properties USD 248 0.3012 CubeSmart USD 259 0.31

6 CyrusOne USD 313 0.387 DCT Industrial Trust USD 331 0.40

24 DDR USD 192 0.2311 Digital Realty Trust USD 1,124 1.3510 Douglas Emmett USD 342 0.4127 Duke Realty USD 652 0.78

6 DuPont Fabros Technology USD 315 0.382 Easterly Government Properties USD 33 0.042 EastGroup Properties USD 162 0.206 Education Realty Trust USD 195 0.248 Empire State Realty Trust – A – USD 152 0.185 EPR Properties USD 327 0.399 Equity Commonwealth USD 247 0.306 Equity LifeStyle Properties USD 435 0.52


13 Extended Stay America USD 222 0.279 Extra Space Storage USD 609 0.735 Federal Realty Investment Trust USD 573 0.69

10 FelCor Lodging Trust USD 64 0.089 First Industrial Realty Trust USD 226 0.27

15 Forest City Realty Trust – A – USD 316 0.388 Franklin Street Properties USD 73 0.09

46 GGP USD 947 1.144 Global Net Lease USD 85 0.105 Government Properties Income Trust USD 82 0.10

11 Gramercy Property Trust USD 287 0.3535 HCP USD 970 1.17

8 Healthcare Realty Trust USD 233 0.28






Currency Market

Value

% of

Net

Assets


13 Healthcare Trust of America – A – USD 367 0.442 Hersha Hospitality Trust USD 32 0.048 Highwoods Properties USD 334 0.40

11 Hudson Pacific Properties USD 316 0.383 Independence Realty Trust USD 27 0.036 Investors Real Estate Trust USD 34 0.047 Kilroy Realty USD 459 0.55

31 Kimco Realty USD 492 0.596 Kite Realty Group Trust USD 95 0.116 La Quinta Holdings USD 73 0.09

15 Lexington Realty Trust USD 134 0.1611 Liberty Property Trust USD 393 0.47

4 Life Storage USD 233 0.283 LTC Properties USD 136 0.168 Macerich USD 419 0.506 Mack-Cali Realty USD 139 0.17

24 Medical Properties Trust USD 268 0.324 MGM Growth Properties – A – USD 91 0.118 Mid-America Apartment Communities USD 748 0.90

11 Monogram Residential Trust REIT USD 95 0.113 National Health Investors USD 207 0.25

11 National Retail Properties USD 381 0.463 National Storage Affiliates Trust USD 62 0.07

12 New York REIT USD 88 0.115 NorthStar Realty Europe USD 52 0.06

15 Omega Healthcare Investors USD 423 0.5115 Paramount Group USD 209 0.25

2 Parkway USD 48 0.065 Pennsylvania Real Estate Investment Trust USD 48 0.06

11 Physicians Realty Trust USD 187 0.2311 Piedmont Office Realty Trust – A – USD 209 0.2538 Prologis USD 1,957 2.35

1 PS Business Parks USD 153 0.1811 Public Storage USD 1,998 2.40

4 QTS Realty Trust – A – USD 163 0.207 Quality Care Properties USD 118 0.146 Ramco-Gershenson Properties Trust USD 70 0.08

19 Realty Income USD 940 1.1311 Regency Centers USD 611 0.74

8 Retail Opportunity Investments USD 134 0.1619 Retail Properties of America – A – USD 199 0.24

5 Rexford Industrial Realty USD 119 0.149 RLJ Lodging Trust USD 163 0.205 Sabra Health Care REIT USD 105 0.134 Select Income REIT USD 91 0.11

16 Senior Housing Properties Trust USD 291 0.352 Seritage Growth Properties – A – USD 70 0.08

22 Simon Property Group USD 3,145 3.787 SL Green Realty USD 677 0.81

36 Spirit Realty Capital USD 235 0.286 STAG Industrial USD 146 0.18

12 Store Capital USD 236 0.289 Summit Hotel Properties USD 140 0.175 Sun Communities USD 412 0.507 Tanger Factory Outlet Centers USD 168 0.204 Taubman Centers USD 186 0.223 Terreno Realty USD 100 0.125 Tier REIT USD 79 0.10

19 UDR USD 644 0.788 Urban Edge Properties USD 165 0.20

26 Ventas USD 1,572 1.8969 VEREIT USD 495 0.6013 Vornado Realty Trust USD 1,025 1.2312 Washington Prime Group USD 90 0.11

5 Washington Real Estate Investment Trust USD 146 0.188 Weingarten Realty Investors USD 214 0.26

27 Welltower USD 1,750 2.117 WP Carey USD 425 0.51

46,365 55.78TOTAL TRANSFERABLE SECURITIES ANDMONEY MARKET INSTRUMENTS ADMITTEDTO AN OFFICIAL STOCK EXCHANGE LISTING 83,444 100.39

INVESTMENTS 83,444 100.39


291



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets0 EURO STOXX 50 Index Future 09/17 EUR 51 (1) (0.00)0 FTSE 100 Index Future 09/17 GBP 54 (1) (0.00)0 S&P 500 E-mini Index Future 09/17 USD 456 (2) (0.00)0 Topix Index Future 09/17 JPY 208 1 0.00



OTHER ASSETS LESS LIABILITIES (318) (0.39)

TOTAL NET ASSETS 83,123 100.00



292


AAMMF Global Sustainable Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Australia145,000 National Australia Bank AUD 2,885,508 1.53170,000 Westpac Banking AUD 3,488,193 1.84

6,373,701 3.37Canada

70,000 Bank of Montreal CAD 4,499,902 2.3818,000 Brookfield Renewable Energy Partners CAD 502,487 0.2636,000 Rogers Communications – B – CAD 1,488,626 0.7935,000 Stantec CAD 771,486 0.4185,000 Toronto-Dominion Bank CAD 3,750,087 1.98

11,012,588 5.82Denmark

34,000 Coloplast – B – DKK 2,487,687 1.3290,000 Novo Nordisk – B – DKK 3,374,841 1.7850,000 Novozymes – B – DKK 1,915,934 1.0125,000 Vestas Wind Systems DKK 2,020,843 1.07

9,799,305 5.18France160,000 AXA EUR 3,832,000 2.03

27,000 Essilor International EUR 3,007,800 1.59

6,839,800 3.62Germany

24,000 Henkel & Co – Pref – EUR 2,892,000 1.5334,000 SAP EUR 3,109,300 1.64

6,001,300 3.17Japan

47,000 Denso JPY 1,739,135 0.9256,000 East Japan Railway JPY 4,695,355 2.48

257,000 Kubota JPY 3,785,245 2.00115,000 Sony JPY 3,846,130 2.04119,000 Terumo JPY 4,108,982 2.17

18,174,847 9.61Netherlands119,000 ING Groep EUR 1,796,900 0.95

90,000 NN Group EUR 2,800,800 1.48

4,597,700 2.43Norway230,000 DNB NOK 3,418,468 1.81

3,418,468 1.81South Africa105,000 Nedbank Group ZAR 1,467,001 0.78

1,467,001 0.78Spain

63,000 Industria de Diseno Textil EUR 2,117,430 1.12

2,117,430 1.12Sweden

88,000 Assa Abloy – B – SEK 1,693,218 0.9052,000 Atlas Copco – A – SEK 1,745,941 0.9250,000 Essity – B – SEK 1,198,022 0.6350,000 Svenska Cellulosa – B – SEK 331,340 0.18

130,000 Svenska Handelsbanken – A – SEK 1,629,725 0.86


4,800 Geberit CHF 1,965,269 1.0411,000 Roche Holding CHF 2,459,332 1.30

4,424,601 2.34United Kingdom460,000 Aviva GBP 2,755,633 1.46

66,000 Croda International GBP 2,920,202 1.54105,000 Halma GBP 1,315,406 0.70

27,000 Johnson Matthey GBP 882,825 0.47180,000 RELX EUR 3,240,000 1.71115,000 WPP GBP 2,113,875 1.12


63,000 Agilent Technologies USD 3,276,077 1.7331,000 Anthem USD 5,113,349 2.70

1,500 Chipotle Mexican Grill USD 547,236 0.29165,000 Cisco Systems USD 4,528,079 2.40

21,000 Clean Harbors USD 1,027,951 0.5430,000 Conagra Brands USD 940,599 0.5050,000 Covanta Holding USD 578,668 0.3133,000 Ecolab USD 3,840,910 2.0332,000 EnerNOC USD 217,439 0.12


AAMMF Global Sustainable Equities 30-06-2017




Currency Market

Value

% of

Net

Assets


38,000 First Solar USD 1,328,692 0.7065,000 General Mills USD 3,157,249 1.6762,000 Hanesbrands USD 1,258,972 0.6727,000 Hasbro USD 2,639,753 1.4033,000 Interface USD 568,541 0.3044,000 Intuit USD 5,123,528 2.7114,000 Itron USD 831,616 0.4457,000 LKQ USD 1,646,706 0.8721,000 McCormick & Co USD 1,795,371 0.9565,000 Oracle USD 2,857,481 1.5142,000 Owens Corning USD 2,464,285 1.3038,000 Praxair USD 4,416,203 2.3471,000 Prologis USD 3,650,379 1.9324,000 Rockwell Automation USD 3,408,040 1.8029,000 Salesforce.com USD 2,201,920 1.1646,000 Skyworks Solutions USD 3,869,800 2.0532,000 Stanley Black & Decker USD 3,948,411 2.09

140,000 Symantec USD 3,467,625 1.8357,000 Time Warner USD 5,018,079 2.6540,000 TJX Cos USD 2,531,060 1.3420,000 United Natural Foods USD 643,549 0.3434,000 UnitedHealth Group USD 5,527,404 2.9242,000 Veeco Instruments USD 1,025,558 0.5438,000 Ventas USD 2,314,883 1.2217,000 Walt Disney USD 1,583,666 0.8461,000 Western Digital USD 4,738,591 2.5155,000 Xylem USD 2,672,965 1.41


INVESTMENTS 188,813,563 99.85

OTHER ASSETS LESS LIABILITIES 292,893 0.15



293


AAMMF Alger US Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %China


6,109,250 3.25Ireland

1 Adient USD 45 0.00

45 0.00United Kingdom

9,668 Delphi Automotive USD 847,398 0.45


16,211 Adobe Systems USD 2,292,902 1.2226,498 Aetna USD 4,023,240 2.1414,843 Air Products & Chemicals USD 2,123,494 1.13

6,300 Allergan USD 1,531,364 0.8211,151 Alphabet – C – USD 10,133,568 5.4013,198 Amazon.com USD 12,775,512 6.8087,293 Apple USD 12,571,933 6.7036,691 Autodesk USD 3,699,195 1.97

110,531 Bank of America USD 2,681,482 1.4313,164 BioMarin Pharmaceutical USD 1,195,583 0.64

116,881 Blackstone Group USD 3,897,988 2.0826,866 Broadcom USD 6,261,220 3.3391,072 CBS – B – USD 5,808,565 3.0933,926 Celgene USD 4,405,991 2.35

3,028 Charter Communications – A – USD 1,020,096 0.5420,141 Cognizant Technology Solutions – A – USD 1,337,380 0.71

100,944 Comcast – A – USD 3,928,758 2.0930,505 Crown Castle International USD 3,056,000 1.6323,623 Danaher USD 1,993,565 1.0620,416 DexCom USD 1,493,454 0.8019,594 Electronic Arts USD 2,071,466 1.1010,974 Expedia USD 1,634,496 0.8758,118 Facebook – A – USD 8,774,654 4.6722,585 Halliburton USD 964,588 0.5139,637 HD Supply Holdings USD 1,214,091 0.6521,452 Home Depot USD 3,290,771 1.7545,722 Honeywell International USD 6,094,292 3.25

9,092 Incyte USD 1,144,756 0.6174,833 Intercontinental Exchange USD 4,933,017 2.6338,554 Johnson Controls International USD 1,671,681 0.8962,565 Microchip Technology USD 4,828,744 2.5748,320 Micron Technology USD 1,442,836 0.77

173,402 Microsoft USD 11,952,568 6.3740,517 Morgan Stanley USD 1,805,417 0.9634,918 Newell Brands USD 1,872,282 1.0027,585 Philip Morris International USD 3,239,841 1.7316,958 Pioneer Natural Resources USD 2,706,095 1.4412,172 PVH USD 1,393,717 0.7437,431 Salesforce.com USD 3,241,500 1.73

9,278 ServiceNow USD 983,465 0.525,277 Sherwin-Williams USD 1,851,902 0.998,488 Stanley Black & Decker USD 1,194,570 0.64

17,660 T-Mobile USD 1,070,526 0.5731,769 UnitedHealth Group USD 5,890,577 3.1416,605 Vertex Pharmaceuticals USD 2,139,917 1.1476,853 Visa – A – USD 7,207,293 3.8428,228 Western Digital USD 2,501,002 1.33


INVESTMENTS 180,304,047 96.04




294


AAMMF Aristotle US Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Ireland

321,199 Medtronic USD 28,506,422 2.79

28,506,422 2.79Japan2,628,200 Mitsubishi UFJ Financial Group –

ADR – USD 17,740,353 1.74

17,740,353 1.74Spain3,212,059 Banco Bilbao Vizcaya Argentaria –

ADR – USD 26,852,813 2.63


163,644 Chubb USD 23,790,578 2.33275,531 Novartis – ADR – USD 22,998,573 2.26


436,892 Unilever USD 24,147,004 2.37


371,076 AbbVie USD 26,906,744 2.64447,179 Acadia Healthcare USD 22,081,709 2.16263,353 Adobe Systems USD 37,248,625 3.65

1,263,485 AES USD 14,037,315 1.38207,790 Ameriprise Financial USD 26,449,583 2.59130,154 Amgen USD 22,416,449 2.20190,284 Ansys USD 23,153,738 2.27431,564 Archer-Daniels-Midland USD 17,858,108 1.75

1,365,926 Bank of America USD 33,137,362 3.25556,847 Baxter International USD 33,711,495 3.30172,017 BOK Financial USD 14,471,756 1.42447,548 Coca-Cola USD 20,072,509 1.97152,227 Cullen/Frost Bankers USD 14,295,644 1.40262,592 Danaher USD 22,160,113 2.17378,284 Dow Chemical USD 23,858,389 2.34305,976 EQT USD 17,927,158 1.76181,150 First Republic Bank USD 18,133,136 1.78787,775 General Electric USD 21,277,805 2.09433,086 Halliburton USD 18,497,104 1.81211,596 Home Depot USD 32,458,770 3.18220,729 JPMorgan Chase & Co USD 20,174,654 1.98867,694 Kroger USD 20,234,631 1.98509,961 Lennar – A – USD 27,191,104 2.67131,600 M&T Bank USD 21,312,669 2.09132,362 Martin Marietta Materials USD 29,461,009 2.89370,673 Microchip Technology USD 28,608,536 2.80446,025 Microsoft USD 30,744,525 3.01491,694 Mondelez International – A – USD 21,236,240 2.08386,657 National Fuel Gas USD 21,590,914 2.12389,701 Oshkosh USD 26,842,626 2.63384,373 PayPal Holdings USD 20,629,318 2.02305,215 Phillips 66 USD 25,238,251 2.47128,708 Pioneer Natural Resources USD 20,539,221 2.01198,885 PPG Industries USD 21,869,358 2.14144,078 Time Warner USD 14,466,907 1.42350,883 Walgreens Boots Alliance USD 27,477,679 2.69


INVESTMENTS 981,806,897 96.23


295


AAMMF Aristotle US Equities 30-06-2017

DERIVATIVES

FORWARDS HELD BY SHARE CLASSES IH EUR AND AH EUR

SHARE CLASS SPECIFIC FORWARD CURRENCY CONTRACTS*

Purchased Sold


in Fund% ofNet


47,795 USD 41,773 EUR 31/07/2017 88 0.00

TOTAL SHARE CLASS SPECIFIC FORWARD CURRENCY CONTRACTS 25,027 0.00



TOTAL NET ASSETS 1,020,257,902 100.00

* The counterparty for the forward foreign exchange contracts is State Street Bank & Trust.


296


AAMMF Edinburgh Partners EuropeanEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Denmark

1,493,902 TDC DKK 7,607,131 1.67

7,607,131 1.67Finland

2,370,642 Nokia EUR 12,694,785 2.79781,956 Stora Enso – R – EUR 8,843,927 1.95

21,538,712 4.74France

125,727 Airbus EUR 9,052,322 1.99216,066 BNP Paribas EUR 13,625,116 3.00

80,846 Cie Generale des EtablissementsMichelin EUR 9,410,536 2.07

184,856 Sanofi EUR 15,483,523 3.41301,100 TOTAL EUR 13,033,103 2.87226,397 Ubisoft Entertainment EUR 11,247,410 2.47

71,852,010 15.81Germany

132,166 Bayer EUR 14,961,232 3.291,322,770 Commerzbank EUR 13,796,491 3.04

294,536 Deutsche Post EUR 9,666,660 2.13997,130 E.ON EUR 8,224,333 1.81399,153 Rocket Internet EUR 7,514,049 1.65

54,162,765 11.92Ireland


12,662,442 2.78Italy

817,636 Eni EUR 10,760,090 2.3713,099,689 Telecom Italia EUR 10,584,549 2.33


173,559 Gemalto EUR 9,120,521 2.01868,450 ING Groep EUR 13,113,596 2.89543,867 Koninklijke Ahold Delhaize EUR 9,104,326 2.00

3,431,550 PostNL EUR 14,024,745 3.09513,386 Royal Dutch Shell – A – (traded in

Netherlands) EUR 11,928,521 2.6226,274 Royal Dutch Shell – A – (traded in

United Kingdom) GBP 608,941 0.13

57,900,650 12.74Norway

757,458 DNB NOK 11,258,029 2.484,375,484 Petroleum Geo-Services NOK 6,640,632 1.46

17,898,661 3.94Spain

1,809,306 Banco Bilbao Vizcaya Argentaria EUR 13,144,609 2.891,328,696 Telefonica EUR 12,008,751 2.64

25,153,360 5.53Sweden

844,060 Nordea Bank SEK 9,405,717 2.07


132,837 Adecco Group CHF 8,865,967 1.95199,646 Novartis CHF 14,586,190 3.21

63,682 Roche Holding CHF 14,237,657 3.13


3,001,991 AA GBP 7,795,107 1.71952,208 Aggreko GBP 9,982,366 2.20

2,107,173 Amec Foster Wheeler GBP 11,211,946 2.47222,606 AstraZeneca GBP 13,018,307 2.86

1,571,957 Barratt Developments GBP 10,088,169 2.222,564,106 BP GBP 12,930,680 2.841,311,911 HSBC Holdings GBP 10,633,575 2.341,217,233 Informa GBP 9,274,228 2.043,614,075 Royal Bank of Scotland Group GBP 10,174,745 2.24


AAMMF Edinburgh Partners EuropeanEquities 30-06-2017




Currency Market

Value

% of

Net

Assets


1,022,064 Tate & Lyle GBP 7,705,735 1.706,116,312 Tesco GBP 11,758,176 2.59


INVESTMENTS 451,788,935 99.40




297


AAMMF Hermes European Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Belgium

81,424 UCB EUR 4,904,146 1.519,687 Umicore EUR 589,924 0.18

5,494,070 1.69Denmark

224,500 Novo Nordisk – B – DKK 8,418,348 2.5979,653 Pandora DKK 6,508,300 2.00

14,926,648 4.59Finland1,992,095 Nokia EUR 10,667,666 3.28

10,667,666 3.28France

164,718 Legrand EUR 10,088,957 3.1181,782 Renault EUR 6,481,231 1.9987,032 Sodexo EUR 9,852,073 3.03

168,867 Valeo EUR 9,961,475 3.07

36,383,736 11.20Germany

74,987 adidas EUR 12,579,017 3.87132,817 Bayer EUR 15,034,869 4.63136,124 Deutsche Boerse EUR 12,580,586 3.87147,586 Fresenius & Co EUR 11,077,805 3.41

74,832 KION Group EUR 5,007,738 1.5442,923 Merck EUR 4,539,131 1.40

152,627 ProSiebenSat.1 Media EUR 5,592,251 1.72158,734 Wirecard EUR 8,844,681 2.72

75,256,078 23.16Ireland

346,449 Allied Irish Banks EUR 1,714,921 0.5331,345 Paddy Power Betfair EUR 2,929,850 0.90


84,788 ASML Holding EUR 9,674,268 2.97808,769 ING Groep EUR 12,212,419 3.76

21,886,687 6.73Norway

646,747 DNB NOK 9,612,535 2.96346,783 Statoil NOK 5,023,540 1.54

14,636,075 4.50Spain

51,439 Aena EUR 8,788,416 2.71240,226 Amadeus IT Group EUR 12,575,804 3.87541,178 Gamesa Technologica EUR 10,117,319 3.11165,619 Gas Natural SDG EUR 3,393,536 1.04283,528 Industria de Diseno Textil EUR 9,529,391 2.93

44,404,466 13.66Sweden

185,470 Lundin Petroleum SEK 3,125,220 0.96290,206 Swedbank – A – SEK 6,193,259 1.91


42,044 Dufry CHF 6,047,297 1.8663,505 Roche Holding CHF 14,198,094 4.37


75,807 ASOS GBP 4,963,411 1.53728,223 Auto Trader Group GBP 3,151,560 0.97

2,227,402 ConvaTec Group GBP 8,097,284 2.49642,050 GlaxoSmithKline GBP 11,959,057 3.68193,467 Imperial Brands GBP 7,598,268 2.34704,521 Merlin Entertainments GBP 3,855,364 1.19126,033 Reckitt Benckiser Group GBP 11,172,901 3.44


AAMMF Hermes European Equities 30-06-2017




Currency Market

Value

% of

Net

Assets


182,046 Schroders GBP 6,435,488 1.982,224,749 Worldpay Group GBP 7,976,156 2.45


INVESTMENTS 323,073,556 99.41




298


AAMMF Pzena European Equities 30-06-2017

Quantity Transferable securities and

money

market instruments admitted to

an


Currency Market

Value

% of

Net

Assets

SHARES EUR %Belgium

320,299 D’ieteren EUR 13,106,639 1.24242,795 KBC Group EUR 16,124,003 1.52

29,230,642 2.76Chile

3,058,968 Antofagasta GBP 27,852,953 2.63

27,852,953 2.63Denmark

530,026 Danske Bank DKK 17,850,454 1.68

17,850,454 1.68France

712,399 Bouygues EUR 26,301,786 2.481,365,212 Credit Agricole EUR 19,229,008 1.81

344,096 Faurecia EUR 15,301,927 1.44499,401 Publicis Groupe EUR 32,615,854 3.08538,341 Schneider Electric EUR 36,214,229 3.42576,946 TOTAL EUR 24,973,109 2.36

1,902,395 Vallourec EUR 10,118,840 0.95

164,754,753 15.54Germany

67,073 Aurubis EUR 4,611,267 0.44105,767 Continental EUR 19,984,680 1.88111,480 Deutsche Boerse EUR 10,302,932 0.97

1,336,984 Salzgitter EUR 47,750,399 4.5023,515 Uniper EUR 386,469 0.04

188,091 Volkswagen – Pref – EUR 25,081,962 2.37

108,117,709 10.20Ireland

2,575,613 Grafton Group GBP 20,679,864 1.95

20,679,864 1.95Italy

234,886 Danieli & C Officine Meccaniche EUR 5,014,816 0.47941,634 Danieli & C Officine Meccaniche –

RSP – EUR 14,764,826 1.397,067,988 Enel EUR 33,177,136 3.132,479,631 Eni EUR 32,631,938 3.081,116,425 UniCredit EUR 18,253,542 1.72


1,434,690 ING Groep EUR 21,663,825 2.047,745,059 Koninklijke KPN EUR 21,693,912 2.05

682,835 Koninklijke Philips EUR 21,232,754 2.001,106,159 Royal Dutch Shell – A – EUR 25,701,594 2.42

90,292,085 8.51Russia

384,329 Lukoil – ADR – USD 16,440,658 1.55

16,440,658 1.55Spain

3,537,332 Bankia EUR 14,969,989 1.41853,644 Indra Sistemas EUR 10,785,799 1.02

25,755,788 2.43Sweden

1,061,071 Telefonaktiebolaget LM Ericsson –B – SEK 6,645,463 0.63


1,960,873 Credit Suisse Group CHF 24,882,353 2.35128,754 Roche Holding CHF 28,786,232 2.71

0 STMicroelectronics EUR 0 0.001,711,012 UBS Group CHF 25,440,054 2.40


1,333,289 Amec Foster Wheeler GBP 7,094,228 0.673,455,916 Aviva GBP 20,702,692 1.956,341,137 Balfour Beatty GBP 19,542,170 1.847,600,853 Barclays GBP 17,550,968 1.653,410,169 HSBC Holdings GBP 27,640,809 2.61

14,973,760 Ladbrokes Coral Group GBP 19,526,043 1.845,343,549 Royal Bank of Scotland Group GBP 15,043,752 1.421,280,166 RSA Insurance Group GBP 8,973,714 0.856,627,370 SIG GBP 11,215,997 1.06


AAMMF Pzena European Equities 30-06-2017

Quantity Transferable securities and

money

market instruments admitted to

an


Currency Market

Value

% of

Net

Assets


2,251,770 Standard Chartered GBP 19,931,259 1.8815,626,452 Tesco GBP 30,040,745 2.83

1,727,224 Travis Perkins GBP 28,621,310 2.7013,551,364 Vodafone Group GBP 33,606,172 3.17

169,612 Willis Towers Watson USD 21,631,438 2.041,132,036 WPP GBP 20,808,539 1.96


781,639 Mylan USD 26,604,036 2.51231,255 Seagate Technology USD 7,856,858 0.74


INVESTMENTS 1,026,961,996 96.85


TOTAL NET ASSETS 1,060,363,136 100.00


299


AAMMF TCW US Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Ireland

19,617 Medtronic USD 1,741,020 1.20

1,741,020 1.20Netherlands129,384 Koninklijke Philips USD 4,634,539 3.19


31,124 Pentair USD 2,070,986 1.43

2,070,986 1.43United States246,293 AES USD 2,736,318 1.88

10,462 Anthem USD 1,968,124 1.3652,423 AT&T USD 1,977,936 1.3671,104 Baker Hughes USD 3,875,886 2.6729,267 Cardinal Health USD 2,280,482 1.5722,220 Centene USD 1,774,937 1.2237,917 Chevron USD 3,955,871 2.72

7,602 Cigna USD 1,272,571 0.88151,128 Cisco Systems USD 4,730,307 3.26

93,864 Citigroup USD 6,277,610 4.3251,011 Coach USD 2,414,854 1.66

145,668 Comcast – A – USD 5,669,407 3.9150,630 Conagra Brands USD 1,810,527 1.25

133,908 Corning USD 4,023,920 2.77267,053 Cypress Semiconductor USD 3,645,275 2.51127,322 Dana USD 2,843,095 1.96

38,772 Dow Chemical USD 2,445,354 1.68102,466 First Data – A – USD 1,864,883 1.28160,492 Freeport-McMoRan USD 1,927,511 1.33173,065 General Electric USD 4,674,474 3.22

50,820 Gilead Sciences USD 3,597,068 2.4882,452 Hartford Financial Services Group USD 4,334,513 2.9911,237 Home Depot USD 1,723,754 1.1953,471 Intel USD 1,804,109 1.2461,854 Intercontinental Exchange USD 4,077,432 2.8145,488 Invesco USD 1,600,708 1.1068,021 Johnson Controls International USD 2,949,401 2.0323,807 Jones Lang LaSalle USD 2,975,898 2.0565,589 JPMorgan Chase & Co USD 5,994,816 4.1373,120 Lennar – A – USD 3,898,748 2.6980,389 Merck & Co USD 5,152,126 3.5556,122 Micron Technology USD 1,675,787 1.1571,295 Microsoft USD 4,914,336 3.39

157,968 Nabors Industries USD 1,285,857 0.8946,122 Newfield Exploration USD 1,312,645 0.90

104,044 ON Semiconductor USD 1,460,783 1.0129,838 PepsiCo USD 3,446,030 2.3717,109 Procter & Gamble USD 1,491,087 1.0332,140 Sealed Air USD 1,438,573 0.9934,219 State Street USD 3,070,458 2.1279,881 Synchrony Financial USD 2,382,043 1.6480,468 Terex USD 3,017,561 2.0843,599 Western Digital USD 3,862,862 2.6616,982 WestRock USD 962,226 0.6670,755 Zions Bancorporation USD 3,106,850 2.14


INVESTMENTS 142,151,558 97.92




300


AAMMF Wellington European Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Austria

56,612 Porr EUR 1,564,197 0.52

1,564,197 0.52Belgium124,003 UCB EUR 7,468,716 2.48

7,468,716 2.48Denmark

5,340 ALK-Abello DKK 697,721 0.23166,981 DSV DKK 8,983,510 2.98

38,479 H Lundbeck DKK 1,891,070 0.63132,683 Spar Nord Bank DKK 1,524,023 0.50

13,096,324 4.34Finland203,514 Kone – B – EUR 9,064,510 3.00

83,697 Nokian Renkaat EUR 3,033,203 1.0171,713 Sampo – A – EUR 3,217,752 1.07

15,315,465 5.08France199,868 Altran Technologies EUR 2,852,116 0.94

13,636 BioMerieux EUR 2,584,009 0.86166,926 Elior Group EUR 4,246,601 1.41237,677 Elis EUR 4,767,797 1.58172,937 Legrand EUR 10,592,428 3.51

30,108 L’Oreal EUR 5,491,651 1.8263,136 Pernod Ricard EUR 7,402,658 2.4565,370 Worldline EUR 1,961,098 0.65

39,898,358 13.22Germany

63,153 Beiersdorf EUR 5,812,593 1.9345,917 Brenntag EUR 2,327,091 0.7726,923 FUCHS PETROLUB – Pref – EUR 1,283,537 0.42

265,930 Infineon Technologies EUR 4,915,712 1.6363,346 Merck EUR 6,698,830 2.22

114,762 United Internet EUR 5,525,225 1.83

26,562,988 8.80Italy

32,551 DiaSorin EUR 2,189,097 0.73407,628 OVS EUR 2,539,521 0.84

4,728,618 1.57Jordan230,604 Hikma Pharmaceuticals GBP 3,860,665 1.28

3,860,665 1.28Netherlands127,160 Heineken EUR 10,825,166 3.59

10,825,166 3.59Spain

52,408 Viscofan EUR 2,714,707 0.90

2,714,707 0.90Sweden454,457 Assa Abloy – B – SEK 8,744,252 2.90229,734 Atlas Copco – A – SEK 7,713,501 2.56616,475 Cloetta – B – SEK 2,223,661 0.74382,489 Sandvik SEK 5,268,157 1.74283,285 Trelleborg – B – SEK 5,662,746 1.88


441 Belimo Holding CHF 1,667,081 0.5570,730 Cie Financiere Richemont CHF 5,115,744 1.70

7,721 Daetwyler Holding CHF 1,150,154 0.3815,264 Geberit CHF 6,249,720 2.07

3,331 Inficon Holding CHF 1,440,793 0.48216,011 Julius Baer Group CHF 9,977,382 3.31

31,822 Kuehne & Nagel International CHF 4,661,554 1.55982 LEM Holding CHF 1,115,190 0.37

13,302 Schindler Holding CHF 2,470,949 0.8216,837 Tecan Group CHF 2,779,333 0.9219,406 Temenos Group CHF 1,520,832 0.50

836,735 UBS Group CHF 12,440,928 4.12

50,589,660 16.77United Kingdom366,220 Berendsen GBP 5,130,088 1.70113,549 British American Tobacco GBP 6,768,529 2.24454,257 Compass Group GBP 8,380,965 2.78101,949 Diploma GBP 1,282,994 0.43


AAMMF Wellington European Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %United Kingdom (continued)529,881 Electrocomponents GBP 3,482,028 1.15246,877 Halma GBP 3,092,802 1.02272,347 Jardine Lloyd Thompson Group GBP 3,722,044 1.23368,646 Prudential GBP 7,393,453 2.45115,785 Reckitt Benckiser Group GBP 10,264,375 3.40896,734 Rentokil Initial GBP 2,791,138 0.92

0 Saga GBP 0 0.00606,918 Smith & Nephew GBP 9,158,493 3.04125,976 Spectris GBP 3,619,774 1.20

68,304 Spirax-Sarco Engineering GBP 4,161,754 1.38405,686 SSP Group GBP 2,198,325 0.73164,176 SuperGroup GBP 2,795,299 0.93414,189 UBM GBP 3,254,810 1.08215,397 Unilever – CVA – EUR 10,407,967 3.45132,413 WH Smith GBP 2,586,260 0.86


INVESTMENTS 296,728,279 98.36




301


AAMMF Henderson European Smaller CompaniesEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Austria

9,346 ams CHF 532,674 1.085,933 Lenzing EUR 930,851 1.905,556 Mayr Melnhof Karton EUR 636,185 1.30

2,099,710 4.28Belgium

5,613 Barco EUR 504,650 1.03

504,650 1.03Denmark

14,852 Dfds DKK 692,975 1.4114,876 FLSmidth & Co DKK 823,114 1.6810,343 Jyske Bank DKK 524,478 1.0710,184 NKT DKK 715,011 1.46

4,142 Rockwool International – B – DKK 798,240 1.62

3,553,818 7.24Finland

14,511 Cargotec – B – EUR 806,076 1.6434,919 Valmet EUR 593,978 1.2174,195 YIT EUR 543,109 1.11

1,943,163 3.96France

17,844 Criteo – ADR – USD 767,384 1.5656,923 Europcar Groupe EUR 729,175 1.4820,468 Nexans EUR 980,422 2.0015,332 Nexity EUR 780,105 1.59

0 Sopra Steria Group EUR 0 0.0015,705 Tarkett EUR 638,868 1.30

144,816 Technicolor EUR 552,909 1.1385,315 Television Francaise 1 EUR 1,045,964 2.13

5,494,827 11.19Germany

23,887 Aareal Bank EUR 829,136 1.6911,167 Carl Zeiss Meditec EUR 507,415 1.0313,886 CTS Eventim & Co EUR 537,671 1.0966,473 Kloeckner & Co EUR 612,881 1.2514,862 Stroeer EUR 779,347 1.59

5,902 Wacker Chemie EUR 560,968 1.14

3,827,418 7.79Greece

34,333 JUMBO EUR 549,331 1.12

549,331 1.12Ireland127,493 Origin Enterprises EUR 813,785 1.66

813,785 1.66Isle Of Man


1,240,258 2.52Italy159,927 Anima Holding EUR 1,003,540 2.04129,944 BPER Banca EUR 567,336 1.16

20,213 Cerved Information Solutions EUR 189,396 0.3917,939 De’ Longhi EUR 492,246 1.00

190,311 FinecoBank Banca Fineco EUR 1,311,242 2.67153,193 OVS EUR 954,395 1.94

76,676 Safilo Group EUR 496,859 1.0127,938 Yoox Net-A-Porter Group EUR 676,660 1.38


13,145 ASM International EUR 670,247 1.3756,088 Fugro – CVA – EUR 729,145 1.48

203,563 Koninklijke BAM Groep EUR 969,777 1.9714,427 TKH Group EUR 701,717 1.4376,487 Van Lanschot – CVA – EUR 1,858,626 3.79

4,929,512 10.04Norway361,372 Petroleum Geo-Services NOK 548,451 1.12

548,451 1.12Portugal147,114 NOS SGPS EUR 781,762 1.59

781,762 1.59Spain

13,905 Grupo Catalana Occidente EUR 512,114 1.04


AAMMF Henderson European Smaller CompaniesEquities 30-06-2017




Currency Market

Value

% of

Net

Assets


46,518 Melia Hotels International EUR 608,929 1.2413,170 Viscofan EUR 682,195 1.39

1,803,238 3.67Sweden122,973 Ahlsell SEK 738,221 1.50

91,825 Dometic Group SEK 698,706 1.4252,223 Nobia SEK 461,430 0.9432,239 Thule Group SEK 529,832 1.08


17,209 Aryzta CHF 496,763 1.01342 Forbo Holding CHF 492,074 1.00

52,089 GAM Holding CHF 612,812 1.2582,270 OC Oerlikon CHF 949,054 1.93

5,658 SFS Group CHF 563,637 1.15


83,098 Alfa Financial Software Holdings GBP 437,942 0.89135,096 Ashmore Group GBP 543,428 1.11

68,954 Burford Capital GBP 707,555 1.4440,901 Galliford Try GBP 540,811 1.10

103,962 IG Group Holdings GBP 672,512 1.370 Imagination Technologies Group GBP 0 0.00

183,525 John Laing Group GBP 633,310 1.2991,305 Jupiter Fund Management GBP 525,127 1.07

384,901 Ladbrokes Coral Group GBP 501,917 1.0215,045 LivaNova USD 807,422 1.64

294,530 Saga GBP 702,400 1.4344,050 SuperGroup GBP 750,001 1.53

101,752 TP ICAP GBP 541,523 1.10


INVESTMENTS 46,688,074 95.07




302


AAMMF Blackrock Asia Pacific ex-JapanEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Australia

874,200 Alumina AUD 1,287,466 2.87104,535 BHP Billiton AUD 1,866,678 4.17

1,866,836 Fairfax Media AUD 1,575,152 3.5159,600 Newcrest Mining AUD 921,642 2.06

5,650,938 12.61China

618,756 Air China – H – HKD 638,060 1.421,325,331 Aluminum of China – H – HKD 679,095 1.512,188,029 China Petroleum & Chemical – H – HKD 1,706,934 3.812,243,132 Chongqing Rural Commercial Bank – H

– HKD 1,514,300 3.38258,867 Guangshen Railway – H – HKD 128,332 0.29

1,104,920 Huaneng Power International – H – HKD 767,144 1.7141,820 JD.com – ADR – USD 1,640,189 3.66

4,528 NetEase – ADR – USD 1,361,130 3.040 Semiconductor Manufacturing

International HKD 0 0.0087,188 Tencent Holdings HKD 3,118,314 6.95

11,553,498 25.77Hong Kong

299,046 AIA Group HKD 2,185,446 4.88421,305 China Resources Land HKD 1,227,790 2.74575,132 China Unicom Hong Kong HKD 854,619 1.91363,906 Giordano International HKD 207,441 0.46

58,990 Melco Resorts & Entertainment – ADR– USD 1,324,322 2.95

5,799,618 12.94India

120,404 Bharat Petroleum INR 1,191,052 2.668,246 Hero MotoCorp INR 472,168 1.05

28,975 IndusInd Bank INR 662,962 1.4876,778 Mahindra & Mahindra Financial

Services INR 409,738 0.91375,626 NTPC INR 923,702 2.06

54,770 UPL INR 712,108 1.59

4,371,730 9.75Indonesia2,488,281 Ace Hardware Indonesia IDR 197,905 0.442,878,705 Bank Negara Indonesia Persero IDR 1,425,583 3.182,677,610 Cikarang Listrindo IDR 241,090 0.542,161,109 Perusahaan Gas Negara Persero IDR 364,847 0.81




15,473 Doosan Bobcat KRW 481,445 1.0713,161 Korea Aerospace Industries KRW 655,644 1.46

6,963 Kumho Petrochemical KRW 447,302 1.006,190 POSCO KRW 1,552,598 3.461,396 Samsung Electronics KRW 2,901,274 6.47

323 Samsung Electronics – Pref – KRW 526,369 1.1813,203 S-Oil KRW 1,093,958 2.44

7,658,590 17.08Taiwan

90,116 Airtac International Group TWD 1,064,975 2.38248,535 CTCI TWD 423,213 0.94258,580 Delta Electronics TWD 1,415,305 3.16

7,175 Largan Precision TWD 1,143,912 2.55123,120 MediaTek TWD 1,054,329 2.35

5,101,734 11.38Thailand

103,719 Kasikornbank – NVDR – THB 606,071 1.35


AAMMF Blackrock Asia Pacific ex-JapanEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Thailand (continued)

5,453 Siam Cement THB 80,581 0.181,320 Siam Cement – NVDR – THB 19,586 0.05


INVESTMENTS 44,354,540 98.94




303


AAMMF Boston Partners US Smaller CompaniesEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Bermuda

18,814 Assured Guaranty USD 785,275 0.774,779 Axis Capital Holdings USD 308,989 0.31

99,954 Maiden Holdings USD 1,109,493 1.0945,882 Marvell Technology Group USD 757,977 0.75

9,461 Validus Holdings USD 491,675 0.48

3,453,409 3.40Ireland

10,435 ICON USD 1,020,472 1.00


15,059 Ferroglobe USD 179,960 0.18


9,008 ABM Industries USD 374,005 0.3738,132 ACCO Brands USD 444,240 0.4415,675 AECOM USD 506,769 0.5012,642 Aegion USD 276,606 0.2743,676 AES USD 485,238 0.4816,735 AGNC Investment USD 356,282 0.3542,377 Air Lease USD 1,583,214 1.56

881 Alleghany USD 524,258 0.5230,088 Ally Financial USD 628,843 0.62

9,279 AMC Networks – A – USD 495,616 0.4912,986 Amdocs USD 837,063 0.8237,358 Anworth Mortgage Asset USD 224,519 0.2234,083 Ares Capital USD 558,283 0.5548,028 Ares Commercial Real Estate USD 628,690 0.6220,771 Arrow Electronics USD 1,628,835 1.60

3,057 Assurant USD 317,017 0.315,873 Athene Holding – A – USD 291,368 0.29

23,991 Avnet USD 932,774 0.9218,872 BankUnited USD 636,176 0.63

3,759 Belden USD 283,512 0.2818,116 Berry Global Group USD 1,032,773 1.02

9,321 Blackstone Mortgage Trust – A – USD 294,560 0.2928,581 BMC Stock Holdings USD 624,497 0.61

8,691 Booz Allen Hamilton Holding USD 282,814 0.2844,534 Bristow Group USD 340,684 0.3453,481 Brocade Communications Systems USD 674,394 0.6623,892 Brooks Automation USD 518,210 0.51

6,039 Brunswick USD 378,798 0.375,046 Cabot USD 269,595 0.275,684 Carlisle USD 542,248 0.53

10,696 Cars.com USD 284,839 0.2819,444 CDW USD 1,215,816 1.2025,909 Chatham Lodging Trust USD 520,513 0.51

5,303 Chemed USD 1,084,662 1.0762,090 ClubCorp Holdings USD 813,383 0.80

6,674 Coherent USD 1,501,558 1.4850,311 Colony NorthStar – A – USD 708,882 0.70

6,627 Columbia Banking System USD 264,075 0.2620,062 CommScope Holding USD 762,958 0.7511,907 Convergys USD 283,153 0.28

5,132 Crown Holdings USD 306,150 0.305,113 Curtiss-Wright USD 469,255 0.46

111,169 CYS Investments USD 934,934 0.9211,388 Diamondback Energy USD 1,011,399 1.0012,278 Dick’s Sporting Goods USD 489,021 0.48

4,184 Dril-Quip USD 204,164 0.2022,564 E*TRADE Financial USD 858,093 0.8419,311 East West Bancorp USD 1,131,223 1.11

9,816 EnerSys USD 711,204 0.707,309 Envision Healthcare USD 458,034 0.45

31,186 Essent Group USD 1,158,252 1.145,056 Extraction Oil & Gas USD 68,003 0.079,467 FCB Financial Holdings – A – USD 452,049 0.44

19,047 Ferro USD 348,371 0.3426,475 Finish Line – A – USD 375,152 0.3710,538 First American Financial USD 470,927 0.46

1,385 First Citizens BancShares – A – USD 516,364 0.5112,702 First Midwest Bancorp USD 296,075 0.29

7,492 First Solar USD 298,767 0.2921,139 FirstCash USD 1,232,398 1.2160,356 Flex USD 984,405 0.97

7,937 FNF Group USD 355,798 0.356,464 FNFV Group USD 102,125 0.10






Currency Market

Value

% of

Net

Assets


6,295 Foot Locker USD 310,210 0.3112,488 FTD Cos USD 249,759 0.25

6,634 FTI Consulting USD 231,928 0.2322,508 Gardner Denver Holdings USD 486,408 0.48

7,861 Granite Construction USD 379,216 0.3765,461 Graphic Packaging Holding USD 902,058 0.89

4,270 Group 1 Automotive USD 270,380 0.2716,269 Gulfport Energy USD 239,972 0.2413,356 Hanmi Financial USD 379,971 0.3710,872 Hanover Insurance Group USD 963,616 0.9513,242 Heidrick & Struggles International USD 288,015 0.28

8,421 Hillenbrand USD 303,990 0.302,324 Huntington Ingalls Industries USD 432,580 0.437,925 IAC/InterActiveCorp USD 818,202 0.813,002 Infinity Property & Casualty USD 282,209 0.288,540 Insight Enterprises USD 341,519 0.346,502 Integra LifeSciences Holdings USD 354,439 0.35

33,448 Investors Bancorp USD 446,871 0.445,338 Jacobs Engineering Group USD 290,326 0.29

50,023 Jagged Peak Energy USD 667,813 0.663,458 JELD-WEN Holding USD 112,246 0.114,601 Jones Lang LaSalle USD 575,171 0.57

19,996 KAR Auction Services USD 839,236 0.8368,949 Kosmos Energy USD 441,966 0.4418,662 La-Z-Boy USD 606,526 0.6016,200 LCI Industries USD 1,658,877 1.6335,387 Leucadia National USD 925,734 0.91

5,794 LifePoint Health USD 389,080 0.388,923 Lions Gate Entertainment – B – USD 234,500 0.239,526 Lithia Motors – A – USD 897,590 0.889,438 Live Nation Entertainment USD 328,914 0.323,199 ManpowerGroup USD 357,215 0.354,509 MAXIMUS USD 282,382 0.28

102,929 MFA Financial USD 863,576 0.8513,250 Minerals Technologies USD 969,902 0.9512,557 MTGE Investment USD 236,077 0.2320,900 National General Holdings USD 440,983 0.4388,722 Navient USD 1,477,216 1.4524,993 Navigant Consulting USD 493,861 0.4912,128 Nelnet – A – USD 570,149 0.56

5,465 Nu Skin Enterprises – A – USD 343,395 0.3468,206 Office Depot USD 384,683 0.3815,362 Olin USD 465,154 0.4613,387 On Assignment USD 724,905 0.71

104,185 ON Semiconductor USD 1,462,760 1.446,627 Owens & Minor USD 213,314 0.21

11,637 PAREXEL International USD 1,011,393 1.0051,336 Parsley Energy – A – USD 1,424,579 1.4019,558 PharMerica USD 513,396 0.51

3,469 PolyOne USD 134,403 0.136,719 Portland General Electric USD 306,981 0.309,988 PRA Group USD 378,549 0.37

13,705 PulteGroup USD 336,189 0.3346,630 QEP Resources USD 470,966 0.4647,668 Radian Group USD 779,380 0.77

4,190 Raymond James Financial USD 336,117 0.338,386 Realogy Holdings USD 272,129 0.277,433 Reinsurance Group of America USD 954,264 0.94

36,020 Rice Energy USD 959,225 0.9440,673 RPX USD 567,388 0.5617,231 RSP Permian USD 556,039 0.55

4,717 Scholastic USD 205,602 0.2017,926 Schweitzer-Mauduit International USD 667,379 0.66

7,128 Scripps Networks Interactive – A – USD 486,949 0.4825,792 Select Medical Holdings USD 395,907 0.3911,444 Service International USD 382,803 0.3837,183 Skechers U.S.A. – A – USD 1,096,887 1.0850,172 SLM USD 576,976 0.5734,317 Starwood Property Trust USD 768,352 0.7632,056 Steel Dynamics USD 1,147,910 1.1325,794 Steven Madden USD 1,030,458 1.0122,569 Stifel Financial USD 1,037,709 1.0253,772 SunCoke Energy USD 586,113 0.58


6,756 SYNNEX USD 810,484 0.8047,577 Tailored Brands USD 530,960 0.5214,774 TEGNA USD 212,887 0.21


304






Currency Market

Value

% of

Net

Assets


28,496 TeleTech Holdings USD 1,162,631 1.145,076 Tempur Sealy International USD 271,032 0.27

23,622 Teradyne USD 709,360 0.7011,051 Tesoro USD 1,034,353 1.0216,436 Tetra Tech USD 751,938 0.74

3,773 Torchmark USD 288,664 0.289,384 Tutor Perini USD 269,790 0.27

137,680 Two Harbors Investment USD 1,364,405 1.3410,700 Universal USD 692,300 0.6831,494 Valvoline USD 747,027 0.7430,938 Walker & Dunlop USD 1,510,691 1.4917,193 WESCO International USD 985,145 0.9734,737 WildHorse Resource Development USD 429,700 0.4254,581 World Fuel Services USD 2,098,642 2.07


INVESTMENTS 99,912,709 98.39




305


AAMMF Loomis US Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %China


7,096,580 6.19Denmark

78,977 Novo Nordisk – ADR – USD 3,387,318 2.96

3,387,318 2.96France193,544 Danone – ADR – USD 2,907,029 2.54

2,907,029 2.54Germany

24,624 Adidas – ADR – USD 2,363,180 2.06


22,899 Novartis – ADR – USD 1,911,381 1.67


3,106 Alphabet – A – USD 2,888,085 2.523,115 Alphabet – C – USD 2,830,870 2.478,783 Amazon.com USD 8,501,758 7.42

16,818 American Express USD 1,416,747 1.248,836 Amgen USD 1,521,759 1.336,547 Analog Devices USD 509,378 0.44

43,396 Autodesk USD 4,375,169 3.829,945 Automatic Data Processing USD 1,018,937 0.89

31,946 Cerner USD 2,123,473 1.85158,086 Cisco Systems USD 4,948,085 4.32

48,421 Coca-Cola USD 2,171,683 1.909,733 Compass Minerals International USD 635,596 0.56

24,202 Deere & Co USD 2,991,081 2.6175,756 Expeditors International of Washington USD 4,278,677 3.7448,667 Facebook – A – USD 7,347,796 6.4112,294 FactSet Research Systems USD 2,043,036 1.7813,553 Merck & Co USD 868,612 0.7629,350 Microsoft USD 2,023,079 1.77

114,611 Monster Beverage USD 5,693,860 4.9721,148 MSCI USD 2,178,024 1.9098,919 Oracle USD 4,959,806 4.3323,797 Procter & Gamble USD 2,073,897 1.8157,899 QUALCOMM USD 3,197,187 2.79

7,146 Regeneron Pharmaceuticals USD 3,509,681 3.0629,596 Schlumberger USD 1,948,636 1.7067,360 SEI Investments USD 3,622,611 3.1613,201 United Parcel Service – B – USD 1,459,856 1.27

1,536 Varex Imaging USD 51,930 0.0533,803 Varian Medical Systems USD 3,488,139 3.0548,183 Visa – A – USD 4,518,636 3.94

100,600 Yum China Holdings USD 3,966,662 3.4623,700 Yum! Brands USD 1,748,105 1.53


INVESTMENTS 112,576,339 98.27




306


AAMMF Pzena US Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Bermuda121,538 Axis Capital Holdings USD 7,858,645 2.64

7,858,645 2.64United States183,753 AECOM USD 5,940,730 1.99142,595 American International Group USD 8,915,039 2.99293,460 Avnet USD 11,409,731 3.83470,404 Bank of America USD 11,412,007 3.83111,469 Capital One Financial USD 9,209,597 3.09

35,686 Cigna USD 5,973,438 2.00189,610 Citigroup USD 12,681,122 4.26155,312 Cognizant Technology Solutions – A – USD 10,312,725 3.46200,032 ConocoPhillips USD 8,793,409 2.95107,765 Dover USD 8,644,884 2.90

71,175 Express Scripts Holding USD 4,543,841 1.53192,059 Exxon Mobil USD 15,504,958 5.20668,264 Ford Motor USD 7,477,869 2.51196,971 Franklin Resources USD 8,822,346 2.96

42,443 Goldman Sachs Group USD 9,418,183 3.1686,437 Halliburton USD 3,691,702 1.24

247,435 Hewlett Packard Enterprise USD 4,104,940 1.38108,195 Hilton Worldwide Holdings USD 6,691,845 2.25144,803 Intel USD 4,885,666 1.64127,019 Interpublic Group of Cos USD 3,124,658 1.05

94,456 JPMorgan Chase & Co USD 8,633,310 2.9088,994 Lamar Advertising – A – USD 6,547,254 2.2051,472 McKesson USD 8,469,223 2.84

131,824 MetLife USD 7,242,429 2.43194,121 Morgan Stanley USD 8,650,013 2.90236,026 Murphy Oil USD 6,049,351 2.03297,433 News – A – USD 4,074,831 1.37123,728 Omnicom Group USD 10,257,030 3.44288,674 ON Semiconductor USD 4,052,980 1.36201,194 Oracle USD 10,087,885 3.39402,983 Regions Financial USD 5,899,671 1.98463,776 Staples USD 4,670,225 1.57

78,107 State Street USD 7,008,509 2.35263,048 Superior Energy Services USD 2,743,592 0.92248,816 Terex USD 9,330,606 3.13261,186 Voya Financial USD 9,635,157 3.23117,017 Wal-Mart Stores USD 8,855,818 2.97


INVESTMENTS 291,625,219 97.87




307


AAMMF Schroder Euro Corporate Bonds 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets




1,007,297 0.39Australia


737,830 0.28Austria

427,585 Erste Group Bank EUR 7.125% 10/10/22 551,907 0.21823,497 UNIQA Insurance Group EUR 6.875% 31/07/43 1,007,975 0.39791,824 UNIQA Insurance Group EUR 6.000% 27/07/46 943,903 0.36

2,503,785 0.96Belgium

316,730 AG Insurance USD 6.750% 29/03/49 291,778 0.111,481,027 Anheuser-Busch InBev EUR 2.750% 17/03/36 1,579,328 0.61

633,459 Argenta Spaarbank EUR 3.875% 24/05/26 684,241 0.261,393,610 Belfius Bank EUR 3.125% 11/05/26 1,468,076 0.571,532,971 Belgium Government Bond EUR 2.250% 22/06/57 1,632,347 0.63

190,038 RESA EUR 1.000% 22/07/26 185,041 0.07




633,459 UPCB Finance IV EUR 4.000% 15/01/27 661,331 0.25506,768 Viridian Group FundCo II EUR 7.500% 01/03/20 531,112 0.20823,497 Yorkshire Water Services

Bradford Finance GBP 3.750% 22/03/46 1,005,968 0.39

2,924,739 1.12Denmark

375,640 Danske Bank GBP 5.375% 29/09/21 450,521 0.171,844,633 DONG Energy EUR 3.000% 31/12/49 1,929,156 0.74

189,088 DONG Energy EUR 6.250% 31/12/49 225,473 0.09

2,605,150 1.00Finland

882,409 Kojamo EUR 1.500% 19/06/24 876,847 0.34128,592 Nokia USD 3.375% 12/06/22 113,884 0.04475,094 Nokia EUR 2.000% 15/03/24 483,799 0.19

1,474,530 0.57France




0 AXA EUR 3.375% 06/07/47 0 0.00695,221 AXA GBP 5.453% 29/11/49 872,380 0.34950,189 BPCE USD 5.700% 22/10/23 928,678 0.36263,836 BPCE USD 4.500% 15/03/25 238,165 0.09506,767 Bureau Veritas EUR 3.125% 21/01/21 548,090 0.21

1,583,648 Capgemini EUR 2.500% 01/07/23 1,718,506 0.66981,862 Carmila EUR 2.375% 18/09/23 1,043,668 0.40791,824 Carmila EUR 2.375% 16/09/24 834,594 0.32


411,748 Credit Agricole Assurances EUR 4.750% 27/09/48 459,146 0.18712,641 Electricite de France EUR 4.625% 26/04/30 927,987 0.3678,233 Electricite de France GBP 5.875% 18/07/31 119,012 0.05

1,773,685 Electricite de France EUR 1.875% 13/10/36 1,610,625 0.62348,403 Electricite de France EUR 5.000% 22/01/49 373,640 0.14696,805 Electricite de France EUR 4.125% 29/01/49 736,438 0.28633,459 Electricite de France GBP 5.875% 22/07/49 737,492 0.28126,692 Electricite de France EUR 4.250% 29/12/49 134,658 0.05

1,013,534 Engie EUR 0.875% 27/03/24 1,018,917 0.391,615,321 Fromageries Bel EUR 1.500% 18/04/24 1,623,187 0.62

158,365 Groupama EUR 6.000% 23/01/27 188,320 0.07





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


31,673 Groupama EUR 7.875% 27/10/39 36,405 0.011,710,339 Groupama EUR 6.375% 29/05/49 1,912,491 0.741,425,283 Havas EUR 1.875% 08/12/20 1,481,771 0.571,773,685 Iliad EUR 2.125% 05/12/22 1,844,512 0.71

253,384 La Banque Postale EUR 2.750% 19/11/27 266,530 0.10710,741 La Mondiale EUR 5.050% 29/12/49 792,565 0.30950,189 La Mondiale USD 7.625% 31/12/49 894,564 0.34

1,448,404 mFinance France EUR 2.000% 26/11/21 1,529,234 0.591,144,344 Orange EUR 4.000% 29/10/49 1,243,907 0.481,472,792 Orange EUR 5.000% 29/10/49 1,652,470 0.641,270,085 RCI Banque EUR 1.375% 08/03/24 1,286,906 0.50

214,109 Rexel EUR 3.500% 15/06/23 224,386 0.090 RTE Reseau de Transport

d’Electricite EUR 2.000% 18/04/36 0 0.00823,497 SEB EUR 1.500% 31/05/24 831,089 0.32268,270 SFR Group EUR 5.625% 15/05/24 289,769 0.11

1,615,321 Societe Fonciere Lyonnaise EUR 1.875% 26/11/21 1,693,389 0.650 Societe Generale EUR 9.375% 29/09/49 0 0.00

823,497 SPIE EUR 3.125% 22/03/24 860,599 0.331,298,591 TDF Infrastructure EUR 2.875% 19/10/22 1,414,005 0.54

380,076 TDF Infrastructure EUR 2.500% 07/04/26 396,279 0.15506,767 Teleperformance EUR 1.500% 03/04/24 507,689 0.20411,748 TOTAL EUR 2.250% 29/12/49 417,434 0.16448,489 TOTAL EUR 2.708% 29/12/49 457,296 0.18

36,003,110 13.85Germany

348,403 Allianz EUR 4.750% 29/10/49 401,931 0.161,276,737 Bayer EUR 3.000% 01/07/75 1,330,122 0.51

718,976 BundesrepublikDeutschland EUR 1.500% 15/02/23 783,969 0.30

943,854 BundesrepublikDeutschland EUR 1.750% 15/02/24 1,052,513 0.41


1,101,614 BundesrepublikDeutschland EUR 0.000% 15/08/26 1,062,749 0.41

0 Daimler EUR 1.400% 12/01/24 0 0.002,899,975 Daimler EUR 1.500% 03/07/29 2,848,727 1.101,951,687 Deutsche Pfandbriefbank EUR 1.375% 15/01/18 1,966,481 0.761,060,094 Deutsche Wohnen EUR 1.375% 24/07/20 1,094,723 0.421,348,318 EnBW Energie

Baden-Wuerttemberg EUR 3.625% 02/04/76 1,424,093 0.55696,805 EnBW Energie

Baden-Wuerttemberg EUR 3.375% 05/04/77 731,445 0.281,076,880 Eurogrid EUR 1.875% 10/06/25 1,143,040 0.44

506,767 IHO Verwaltungs EUR 3.250% 15/09/23 521,043 0.20601,786 LEG Immobilien EUR 1.250% 23/01/24 605,855 0.23282,206 Unitymedia Hessen via


Unitymedia NRW EUR 4.625% 15/02/26 999,658 0.381,646,360 Volkswagen Leasing EUR 1.375% 20/01/25 1,628,513 0.63

18,604,781 7.16Guernsey1,102,219 Credit Suisse Group

Funding Guernsey USD 3.800% 09/06/23 997,624 0.38

997,624 0.38Iceland

538,440 Arion Banki EUR 2.500% 26/04/19 558,612 0.21760,151 Arion Banki EUR 1.625% 01/12/21 776,214 0.30554,277 Islandsbanki EUR 1.750% 07/09/20 569,520 0.22601,786 Landsbankinn EUR 3.000% 19/10/18 623,668 0.24443,421 Landsbankinn EUR 1.625% 15/03/21 453,463 0.17633,459 Landsbankinn HF EUR 1.375% 14/03/22 637,352 0.25

3,618,829 1.39India

380,076 ONGC Videsh EUR 2.750% 15/07/21 404,292 0.16

404,292 0.16Ireland

871,006 Allied Irish Banks EUR 4.125% 26/11/25 928,706 0.361 Bank of Ireland EUR 2.000% 08/05/17 1 0.00

139,044 Bank of Ireland EUR 3.250% 15/01/19 145,880 0.05


308





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Ireland (continued)

964,442 Bank of Ireland EUR 4.250% 11/06/24 1,019,138 0.3917 ESB Finance EUR 6.250% 11/09/17 17 0.000 FCA Bank Ireland EUR 2.875% 26/01/18 0 0.00

316,730 FCA Bank Ireland EUR 2.000% 23/10/19 329,170 0.13964,125 FCA Bank Ireland EUR 1.375% 17/04/20 987,910 0.38627,441 Fresenius Finance Ireland EUR 1.500% 30/01/24 634,882 0.24197,639 Fresenius Finance Ireland EUR 2.125% 01/02/27 202,923 0.08

1,430,667 Fresenius Finance Ireland EUR 3.000% 30/01/32 1,504,040 0.580 GAS Networks Ireland EUR 1.375% 05/12/26 0 0.00


1,180,451 Ryanair EUR 1.875% 17/06/21 1,245,899 0.48348,403 Smurfit Kappa

Acquisitions EUR 2.375% 01/02/24 357,862 0.14316,730 Transmission Finance EUR 1.500% 24/05/23 326,383 0.12

8,716,210 3.35Italy

601,787 Beni Stabili SIIQ EUR 4.125% 22/01/18 615,916 0.24848,519 Enel EUR 6.500% 10/01/74 919,579 0.35316,730 Enel GBP 7.750% 10/09/75 410,541 0.16389,577 Enel GBP 6.625% 15/09/76 496,595 0.19806,393 Intesa Sanpaolo USD 5.250% 12/01/24 782,125 0.30499,799 Intesa Sanpaolo USD 5.710% 15/01/26 463,458 0.18395,912 Telecom Italia GBP 6.375% 24/06/19 492,749 0.19


760,468 Allergan Funding EUR 1.250% 01/06/24 757,526 0.29934,035 Allergan Funding EUR 2.125% 01/06/29 934,909 0.36

2,381,806 European FinancialStability Facility EUR 1.250% 24/05/33 2,340,980 0.90

760,151 Gazprom via Gaz Capital GBP 4.250% 06/04/24 894,726 0.35928,017 GELF Bond Issuer I EUR 1.750% 22/11/21 964,718 0.37

1,501,298 Novartis Finance EUR 0.125% 20/09/23 1,462,578 0.56942,270 Prologis International

Funding II EUR 1.876% 17/04/25 964,078 0.37

8,319,515 3.20Mexico

95,019 Mexico City Airport Trust USD 5.500% 31/10/46 84,559 0.031,140,226 Petroleos Mexicanos EUR 2.500% 21/08/21 1,165,064 0.45


4,328,217 1.66Netherlands1,844,949 Achmea EUR 6.000% 04/04/43 2,085,092 0.801,957,072 Achmea EUR 4.250% 29/12/49 1,896,070 0.731,266,918 Cetin Finance EUR 1.423% 06/12/21 1,301,969 0.50

489,981 Deutsche Bahn Finance EUR 0.875% 11/07/31 451,554 0.17963,808 Deutsche Bahn Finance EUR 1.500% 08/12/32 953,024 0.37446,589 Deutsche Telekom


International Finance EUR 1.375% 30/01/27 514,312 0.20206,191 EDP Finance USD 5.250% 14/01/21 194,354 0.07560,611 ELM for Swiss Life

Insurance & Pension Group EUR 4.500% 29/12/49 610,947 0.24197,323 Evonik Finance EUR 0.000% 08/03/21 194,870 0.07126,692 Generali Finance (traded in


United States) EUR 4.596% 30/11/49 284,644 0.111,235,245 ING Bank USD 4.125% 21/11/23 1,108,935 0.43

860,554 innogy Finance GBP 6.500% 20/04/21 1,161,899 0.45126,692 innogy Finance GBP 4.750% 31/01/34 177,539 0.07

1,051,542 Koninklijke KPN EUR 6.125% 29/03/49 1,118,210 0.43380,075 Koninklijke KPN GBP 6.875% 14/03/73 484,114 0.19348,403 LafargeHolcim Sterling

Finance Netherlands GBP 3.000% 12/05/32 392,235 0.15380,075 Madrilena Red de Gas

Finance EUR 2.250% 11/04/29 385,972 0.151,235,245 Mylan EUR 2.250% 22/11/24 1,279,724 0.49





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


823,497 NIBC Bank EUR 1.500% 31/01/22 839,585 0.32163,432 Petrobras Global Finance USD 6.125% 17/01/22 148,165 0.06403,830 Petrobras Global Finance USD 7.375% 17/01/27 375,487 0.14279,989 Petrobras Global Finance GBP 6.625% 16/01/34 310,741 0.12663,232 Petrobras Global Finance USD 7.250% 17/03/44 573,942 0.22261,935 Redexis Gas Finance EUR 2.750% 08/04/21 283,879 0.1195,019 Redexis Gas Finance EUR 1.875% 27/04/27 94,448 0.04

1,330,264 RELX Finance EUR 1.000% 22/03/24 1,335,945 0.51120,674 Repsol International

Finance EUR 3.875% 29/12/49 126,037 0.05141,261 Repsol International

Finance EUR 4.500% 25/03/75 145,471 0.061,290,990 Stedin Holding EUR 3.250% 29/12/49 1,362,154 0.52

285,057 Telefonica Europe EUR 3.750% 31/12/49 297,706 0.110 TenneT Holding EUR 6.655% 29/06/49 0 0.000 Teva Pharmaceutical

Finance Netherlands II EUR 1.250% 31/03/23 0 0.00190,038 Vesteda Finance EUR 1.750% 22/07/19 195,058 0.07

1,108,553 Vesteda Finance EUR 2.500% 27/10/22 1,189,225 0.461,087,966 Vonovia Finance EUR 0.875% 30/03/20 1,107,538 0.431,868,704 Vonovia Finance EUR 1.625% 15/12/20 1,950,989 0.751,520,302 Vonovia Finance EUR 1.250% 06/12/24 1,518,734 0.58



31,090,723 11.96New Zealand

538,440 Chorus EUR 1.125% 18/10/23 535,890 0.21

535,890 0.21Norway

0 Statoil EUR 1.625% 09/11/36 0 0.00

0 0.00Panama1,900,377 Carnival EUR 1.125% 06/11/19 1,942,873 0.751,076,880 Carnival EUR 1.625% 22/02/21 1,122,321 0.43

855,170 Carnival EUR 1.875% 07/11/22 902,717 0.35

3,967,911 1.53Peru


133,040 0.05Poland1,307,143 Tauron Polska Energia EUR 2.375% 05/07/27 1,313,352 0.51

1,313,352 0.51Portugal



1,140,226 Parpublica – ParticipacoesPublicas EUR 3.750% 05/07/21 1,251,022 0.48

1,603,406 0.62Romania1,591,566 Romania Government

International Bond EUR 2.875% 26/05/28 1,643,134 0.63

1,643,134 0.63Spain

791,824 Bankia EUR 4.000% 22/05/24 822,828 0.32411,748 Bankia EUR 3.375% 15/03/27 419,446 0.16886,843 CaixaBank EUR 3.500% 15/02/27 927,516 0.36728,478 Canal de Isabel II Gestion EUR 1.680% 26/02/25 738,540 0.28918,516 Cellnex Telecom EUR 2.375% 16/01/24 942,632 0.36158,365 Cellnex Telecom EUR 2.875% 18/04/25 164,175 0.06855,170 IE2 Holdco EUR 2.375% 27/11/23 907,351 0.35791,824 IE2 Holdco EUR 2.875% 01/06/26 845,180 0.33316,730 Inmobiliaria Colonial EUR 1.863% 05/06/19 327,435 0.13126,692 Inmobiliaria Colonial EUR 2.728% 05/06/23 136,558 0.05728,478 Inmobiliaria Colonial EUR 1.450% 28/10/24 716,211 0.28348,402 Mapfre EUR 4.375% 31/03/47 372,155 0.14665,132 Santander Consumer

Finance EUR 1.100% 30/07/18 673,631 0.26


309





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets




1,805,358 Santander ConsumerFinance EUR 0.875% 24/01/22 1,815,053 0.70


380,075 Spain Government Bond EUR 3.450% 30/07/66 403,393 0.16253,383 Telefonica Emisiones GBP 5.597% 12/03/20 321,230 0.12

14,687,932 5.65Sweden

326,232 Energa Finance EUR 2.125% 07/03/27 324,635 0.13429,169 Essity EUR 0.625% 28/03/22 427,895 0.16506,767 Essity EUR 1.125% 27/03/24 508,450 0.20

0 Essity EUR 1.625% 30/03/27 0 0.00893,177 Molnlycke Holding EUR 1.500% 28/02/22 921,895 0.35

3,336,112 Svenska Handelsbanken EUR 1.125% 14/12/22 3,439,481 1.321,266,918 Telia EUR 3.000% 04/04/78 1,305,458 0.50

450,706 Vattenfall EUR 3.000% 19/03/77 441,345 0.17


0 Credit Suisse EUR 1.375% 29/11/19 0 0.001,361,937 Credit Suisse EUR 1.125% 15/09/20 1,401,295 0.54




265,736 Aviva EUR 3.375% 04/12/45 273,735 0.111,295,424 Barclays GBP 3.125% 17/01/24 1,527,969 0.59

0 Barclays EUR 2.625% 11/11/25 0 0.001,542,789 Barclays GBP 3.250% 12/02/27 1,792,578 0.69

411,748 BAT International Finance EUR 1.000% 23/05/22 416,584 0.160 British

Telecommunications EUR 1.750% 10/03/26 0 0.00155,831 Centrica EUR 3.000% 10/04/76 159,887 0.06496,632 Channel Link Enterprises


Finance EUR 2.706% 30/06/50 471,257 0.182,502,163 Coventry Building Society EUR 2.500% 18/11/20 2,672,248 1.03

216,960 CYBG GBP 3.125% 22/06/25 244,506 0.09798,158 CYBG GBP 5.000% 09/02/26 922,631 0.35

1,634,958 DS Smith EUR 2.250% 16/09/22 1,725,263 0.66845,668 FCE Bank EUR 1.660% 11/02/21 877,506 0.34992,947 Friends Life Holdings GBP 8.250% 21/04/22 1,459,563 0.56

1,232,078 G4S International Finance EUR 1.500% 09/01/23 1,250,295 0.48285,057 GKN Holdings GBP 3.375% 12/05/32 325,294 0.13289,174 Hammerson EUR 1.750% 15/03/23 299,883 0.12

1,646,993 HSBC Holdings EUR 0.369% 27/09/22 1,661,592 0.640 HSBC Holdings GBP 5.750% 20/12/27 0 0.00

538,440 HSBC Holdings GBP 2.625% 16/08/28 615,250 0.24475,094 HSBC Holdings GBP 6.750% 11/09/28 712,924 0.27316,730 Investec GBP 4.500% 05/05/22 389,373 0.15740,197 ITV EUR 2.125% 21/09/22 768,128 0.30968,559 ITV EUR 2.000% 01/12/23 987,623 0.38


Automotive GBP 2.750% 24/01/21 208,872 0.0899,136 Ladbrokes Group Finance GBP 5.125% 08/09/23 112,055 0.04

466,543 Lloyds Banking Group EUR 1.000% 09/11/23 466,517 0.18570,113 Merlin Entertainments EUR 2.750% 15/03/22 596,564 0.23703,456 Nationwide Building



Society EUR 4.125% 20/03/23 1,016,437 0.39793,724 Nationwide Building

Society EUR 1.375% 29/06/32 778,253 0.30





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


180,536 Old Mutual GBP 8.000% 03/06/21 238,150 0.091,080,048 Pirelli International EUR 1.750% 18/11/19 1,103,682 0.421,615,321 Royal Bank of Scotland EUR 0.500% 15/05/24 1,599,511 0.622,818,893 Royal Bank of Scotland

Group EUR 2.000% 08/03/23 2,913,252 1.12923,267 Royal Bank of Scotland

Group EUR 2.500% 22/03/23 981,580 0.38811,144 Santander UK EUR 0.875% 13/01/20 824,910 0.32501,066 Skipton Building Society GBP 1.750% 30/06/22 565,463 0.22

1,266,918 Sky EUR 1.500% 15/09/21 1,312,959 0.51570,113 Smiths Group EUR 2.000% 23/02/27 579,562 0.22

2,565,509 SSE EUR 1.750% 08/09/23 2,711,717 1.04630,292 SSE EUR 5.625% 29/09/49 638,711 0.25297,409 SSE GBP 3.875% 29/12/49 348,548 0.13316,730 SSE GBP 3.625% 16/09/77 365,151 0.14823,497 Tesco GBP 5.000% 24/03/23 1,036,508 0.40413,966 Tesco GBP 6.000% 14/12/29 550,306 0.21

1,016,702 TSB Banking Group GBP 5.750% 06/05/26 1,257,092 0.48237,547 Virgin Media Secured


Finance GBP 6.250% 28/03/29 418,807 0.16489,664 William Hill GBP 4.875% 07/09/23 574,482 0.22

1,248,231 Yorkshire Building Society EUR 2.125% 18/03/19 1,291,570 0.502,613,652 Yorkshire Building Society EUR 1.250% 17/03/22 2,674,398 1.03


823,497 AbbVie EUR 0.375% 18/11/19 827,491 0.32443,421 American Tower EUR 1.375% 04/04/25 437,334 0.17

1,174,116 AT&T EUR 1.800% 04/09/26 1,163,843 0.451,260,267 AT&T EUR 2.350% 04/09/29 1,246,845 0.48

292,975 AT&T EUR 3.550% 17/12/32 319,623 0.12893,177 AT&T EUR 2.450% 15/03/35 824,275 0.32954,306 AT&T EUR 3.150% 04/09/36 941,948 0.36707,890 AT&T USD 5.450% 01/03/47 670,675 0.26791,824 Bank of America GBP 6.125% 15/09/21 1,071,192 0.41869,739 Bank of America EUR 1.625% 14/09/22 902,928 0.35

2,122,088 Bank of America EUR 0.451% 04/05/23 2,126,905 0.821,140,226 Bank of America EUR 1.776% 04/05/27 1,147,020 0.44

728,478 Becton Dickinson & Co EUR 1.000% 15/12/22 724,288 0.2873,798 Citigroup EUR 0.750% 26/10/23 72,555 0.03

1,303,659 Digital Euro Finco EUR 2.625% 15/04/24 1,386,133 0.53716,759 Discovery Communications EUR 1.900% 19/03/27 685,913 0.26329,399 Eli Lilly & Co EUR 2.125% 03/06/30 346,072 0.13950,189 General Electric EUR 1.500% 17/05/29 939,540 0.36517,853 Goldman Sachs Group EUR 0.671% 27/07/21 528,836 0.20605,270 Goldman Sachs Group EUR 2.000% 27/07/23 636,475 0.25

1,742,012 Goldman Sachs Group EUR 1.375% 15/05/24 1,757,602 0.681,257,733 JPMorgan Chase & Co EUR 0.625% 25/01/24 1,229,162 0.471,866,170 JPMorgan Chase & Co EUR 1.638% 18/05/28 1,863,558 0.72

850,419 Metropolitan Life GlobalFunding I EUR 0.875% 20/01/22 865,523 0.33

153,614 Mondelez International EUR 2.375% 06/03/35 148,012 0.061,526,953 Morgan Stanley EUR 0.371% 27/01/22 1,538,295 0.59

633,459 Morgan Stanley EUR 1.000% 02/12/22 637,965 0.25772,820 Morgan Stanley EUR 1.750% 11/03/24 799,061 0.31469,076 Morgan Stanley EUR 1.375% 27/10/26 454,739 0.18

1,868,704 Morgan Stanley EUR 1.875% 27/04/27 1,870,765 0.721 MPT Operating Partnership

via MPT Finance EUR 4.000% 19/08/22 1 0.00443,421 Omega Healthcare

Investors USD 4.375% 01/08/23 399,189 0.15886,843 Parker-Hannifin EUR 1.125% 01/03/25 884,392 0.34

1,407,863 Pfizer EUR 0.000% 06/03/20 1,405,447 0.541 Philip Morris International EUR 2.125% 30/05/19 1 0.00

351,887 Philip Morris International EUR 1.750% 19/03/20 366,875 0.14475,094 Priceline Group EUR 0.800% 10/03/22 473,573 0.18565,996 Prologis EUR 1.375% 07/10/20 584,065 0.23

1,909,246 Prologis EUR 3.000% 18/01/22 2,101,543 0.811,190,903 Thermo Fisher Scientific EUR 1.500% 01/12/20 1,232,096 0.47


1 T-Mobile USA USD 6.731% 28/04/22 1 0.00


310





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


260,668 T-Mobile USA USD 6.000% 15/04/24 245,116 0.09126,692 United States Treasury

Bond USD 3.000% 15/02/47 114,609 0.04191,305 Valeant Pharmaceuticals

International USD 7.000% 15/03/24 176,746 0.07119,724 Walgreens Boots Alliance EUR 2.125% 20/11/26 123,668 0.05530,205 Zimmer Biomet Holdings EUR 1.414% 13/12/22 539,013 0.21285,057 Zimmer Biomet Holdings EUR 2.425% 13/12/26 295,904 0.11


INVESTMENTS 253,541,831 97.54



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(4) 10-Years US Note Future 09/17 USD (383,459) 692 0.00

(61) 5-Years US Note Future 09/17 USD (6,282,800) 12,757 0.01(868) Bundesrepublik Deutschland Future BOBL 09/17 EUR (114,350,753) 1,232,762 0.47(349) Bundesrepublik Deutschland Future BUND 09/17 EUR (56,542,229) 1,027,321 0.40


(38) Long Gilt Future 09/17 GBP (5,435,426) 79,646 0.032 US Long Bond Future 09/17 USD 213,394 1,953 0.00

TOTAL FUTURES CONTRACTS 2,609,023 1.01


Purchased Sold


in Fund% ofNet


23,998,952 EUR 21,075,400 GBP 26/07/2017 7,541 0.00568,704 EUR 500,746 GBP 26/07/2017 (1,327) (0.00)

2,380 EUR 2,097 GBP 26/07/2017 (7) (0.00)9,595,228 EUR 10,717,553 USD 26/07/2017 208,509 0.08

154,831 EUR 174,473 USD 26/07/2017 2,022 0.00116,036 EUR 132,581 USD 26/07/2017 (82) (0.00)241,345 GBP 273,920 EUR 26/07/2017 819 0.00221,814 GBP 252,569 EUR 26/07/2017 (63) 0.00111,069 USD 99,435 EUR 26/07/2017 (2,159) (0.00)341,585 USD 298,957 EUR 26/07/2017 213 0.00







311


AAMMF Insight Euro Corporate Bonds 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Australia1,146,274 AusNet Services Holdings EUR 2.375% 24/07/20 1,224,363 0.83

168,877 Australia Pacific AirportsMelbourne EUR 3.125% 26/09/23 192,048 0.13

1,031,873 National Australia Bank EUR 2.000% 12/11/20 1,094,788 0.74535,684 QBE Insurance Group GBP 6.115% 24/05/42 683,853 0.46875,708 SGSP Australia Assets EUR 2.000% 30/06/22 923,774 0.62754,952 Sydney Airport Finance EUR 2.750% 23/04/24 828,872 0.56

4,947,698 3.34Belgium1,132,200 Anheuser-Busch InBev EUR 2.750% 17/03/36 1,207,348 0.82

680,954 Belfius Bank EUR 3.125% 11/05/26 717,340 0.48726,351 Groupe Bruxelles

Lambert EUR 1.375% 23/05/24 725,735 0.49998,733 KBC Group EUR 0.750% 18/10/23 988,985 0.67

3,639,408 2.46Bermuda

352,735 Bacardi EUR 2.750% 03/07/23 389,795 0.26


521,157 XLIT EUR 3.250% 29/06/47 516,431 0.35

516,431 0.35Czech Republic1,180,321 EP Energy EUR 4.375% 01/05/18 1,220,874 0.82

404,034 EP Energy EUR 5.875% 01/11/19 454,817 0.31

1,675,691 1.13Denmark

372,255 Carlsberg Breweries EUR 2.500% 28/05/24 405,779 0.272,143,190 ISS Global EUR 1.125% 09/01/20 2,186,356 1.481,004,634 Nykredit Realkredit EUR 0.875% 13/06/19 1,017,795 0.69

669,605 TDC EUR 1.750% 27/02/27 666,924 0.45

4,276,854 2.89Finland1,033,688 Sampo EUR 1.250% 30/05/25 1,025,298 0.69

1,025,298 0.69France

590,160 APRR EUR 1.625% 13/01/32 577,838 0.390 AXA EUR 5.125% 04/07/43 0 0.00

483,478 AXA EUR 3.375% 06/07/47 515,268 0.35425,369 AXA EUR 3.941% 29/11/49 463,148 0.31771,748 Banque Federative du



680,955 BPCE EUR 0.625% 20/04/20 690,740 0.47226,985 BPCE EUR 2.875% 22/04/26 240,851 0.1645,398 Casino Guichard

Perrachon EUR 4.407% 06/08/19 49,393 0.03181,588 Coentreprise de Transport

d’Electricite EUR 0.875% 29/09/24 179,990 0.12907,939 Credit Agricole EUR 0.750% 01/12/22 917,186 0.6245,397 Credit Agricole EUR 3.125% 17/07/23 51,940 0.04

771,748 Credit Agricole EUR 1.250% 14/04/26 778,111 0.53453,970 Credit Agricole EUR 1.875% 20/12/26 463,682 0.31363,176 Credit Agricole

Assurances EUR 4.750% 27/09/48 404,982 0.27590,161 Credit Agricole

Assurances EUR 4.250% 29/01/49 631,540 0.4368,097 Electricite de France EUR 4.625% 26/04/30 88,674 0.06

1,095,429 Electricite de France EUR 5.625% 21/02/33 1,590,683 1.07136,191 Electricite de France EUR 5.375% 29/01/49 150,597 0.10

1,361,910 Electricite de France EUR 4.250% 29/12/49 1,447,540 0.98680,954 Eutelsat EUR 2.625% 13/01/20 716,401 0.48317,779 Eutelsat EUR 1.125% 23/06/21 323,402 0.22544,763 Gecina EUR 2.000% 30/06/32 539,904 0.36192,937 LVMH Moet Hennessy

Louis Vuitton EUR 0.750% 26/05/24 193,121 0.13948,796 mFinance France EUR 1.398% 26/09/20 973,167 0.66226,986 mFinance France EUR 2.000% 26/11/21 239,653 0.16272,382 PSA Banque France EUR 0.500% 17/01/20 273,979 0.19





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets




680,954 TDF Infrastructure EUR 2.500% 07/04/26 709,984 0.48680,954 TOTAL EUR 2.250% 29/12/49 690,357 0.47388,144 TOTAL EUR 2.708% 29/12/49 395,766 0.27724,989 TOTAL EUR 3.369% 29/12/49 739,232 0.50363,176 Transport et

Infrastructures Gaz France EUR 2.200% 05/08/25 386,821 0.26

20,602,723 13.92Germany

817,145 Deutsche Bank EUR 1.000% 18/03/19 828,740 0.56226,985 Deutsche Bank EUR 1.125% 17/03/25 223,758 0.1590,794 Eurogrid EUR 1.625% 03/11/23 95,126 0.06

363,176 Eurogrid EUR 1.500% 18/04/28 364,687 0.25537,047 Unitymedia Hessen via

Unitymedia NRW EUR 4.000% 15/01/25 568,276 0.380 Volkswagen Financial

Services EUR 0.750% 14/10/21 0 0.00226,985 Volkswagen Leasing EUR 2.375% 06/09/22 244,828 0.17

2,325,415 1.57Guernsey

747,235 Credit Suisse GroupFunding Guernsey EUR 1.250% 14/04/22 763,450 0.52

763,450 0.52Hong Kong

339,116 CK Hutchison Finance16 II EUR 0.875% 03/10/24 328,821 0.22

328,821 0.22Ireland

726,352 Cloverie for ZurichInsurance EUR 7.500% 24/07/39 830,928 0.56

1,147,949 European ResidentialLoan Securitisation2016-1 DAC EUR 1.127% 24/01/59 1,150,819 0.78

377,703 FCA Bank Ireland EUR 1.250% 13/06/18 382,242 0.26421,738 FCA Bank Ireland EUR 1.000% 15/11/21 423,905 0.29


342,293 Liberty Mutual FinanceEurope DAC EUR 1.750% 27/03/24 348,120 0.23

830,399 Silverback Finance EUR 3.126% 25/02/37 840,796 0.57

5,224,138 3.53Italy

165,246 Assicurazioni Generali EUR 5.500% 27/10/47 184,446 0.13453,970 Assicurazioni Generali EUR 5.000% 08/06/48 488,323 0.33

1,772,751 Intesa Sanpaolo EUR 3.000% 28/01/19 1,855,162 1.251,083,625 Intesa Sanpaolo EUR 1.125% 14/01/20 1,108,441 0.75

590,161 Intesa Sanpaolo Vita EUR 5.350% 18/09/18 626,144 0.42726,352 Intesa Sanpaolo Vita EUR 4.750% 31/12/49 755,740 0.51537,047 Snam EUR 1.375% 19/11/23 551,550 0.37472,128 UniCredit EUR 2.125% 24/10/26 486,074 0.33

6,055,880 4.09Jersey



433,087 Glencore Finance Europe EUR 1.625% 18/01/22 441,616 0.30561,561 SES EUR 4.750% 11/03/21 648,236 0.44522,519 SES EUR 5.625% 29/12/49 584,044 0.39424,915 Telecom Italia Finance EUR 7.750% 24/01/33 591,556 0.40

2,265,452 1.53Mexico

615,130 America Movil EUR 3.000% 12/07/21 672,258 0.45472,128 America Movil EUR 2.125% 10/03/28 481,453 0.33435,812 America Movil EUR 5.125% 06/09/73 458,888 0.31222,445 Petroleos Mexicanos EUR 3.750% 15/03/19 234,513 0.16

1,847,112 1.25


312





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


130,743 Achmea EUR 2.500% 19/11/20 139,786 0.09540,225 Achmea Bank EUR 2.750% 18/02/21 584,612 0.40259,217 ASML Holding EUR 0.625% 07/07/22 259,057 0.18211,550 ASML Holding EUR 1.375% 07/07/26 212,142 0.14363,175 ATF Netherlands EUR 2.125% 13/03/23 375,001 0.25680,954 ATF Netherlands EUR 1.500% 15/07/24 666,797 0.45693,665 Deutsche Telekom


International Finance EUR 1.500% 03/04/28 357,087 0.241,164,433 EDP Finance USD 4.900% 01/10/19 1,073,427 0.73

0 EnBW InternationalFinance EUR 6.125% 07/07/39 0 0.00

261,486 Enel Finance International EUR 1.375% 01/06/26 260,786 0.18279,192 Enexis Holding EUR 1.500% 20/10/23 292,435 0.20181,588 Gas Natural Fenosa

Finance EUR 1.375% 19/01/27 180,348 0.12788,999 General Motors Financial

International EUR 1.168% 18/05/20 805,979 0.54801,256 Heineken EUR 2.020% 12/05/32 804,856 0.54907,939 Iberdrola International EUR 3.500% 01/02/21 1,012,698 0.6890,794 Iberdrola International EUR 1.125% 21/04/26 89,988 0.06

1,203,019 ING Bank USD 4.125% 21/11/23 1,080,004 0.73375,887 innogy Finance II EUR 5.750% 14/02/33 554,707 0.38431,271 Koninklijke KPN EUR 6.125% 29/03/49 458,614 0.3145,398 LeasePlan EUR 2.375% 23/04/19 47,225 0.03

544,763 LeasePlan EUR 1.000% 08/04/20 554,044 0.371,316,511 LeasePlan EUR 1.000% 24/05/21 1,334,803 0.90

767,208 LYB International FinanceII EUR 1.875% 02/03/22 793,878 0.54

626,024 Mylan EUR 3.125% 22/11/28 666,251 0.45291,448 NN Group EUR 1.625% 01/06/27 288,851 0.20643,729 NN Group EUR 4.625% 13/01/48 692,411 0.47726,805 RELX Finance EUR 0.375% 22/03/21 725,993 0.49181,588 Telefonica Europe EUR 6.500% 29/09/49 194,058 0.13317,779 Telefonica Europe EUR 3.750% 31/12/49 331,880 0.22

1,069,098 Teva PharmaceuticalFinance Netherlands II EUR 1.250% 31/03/23 1,056,774 0.71

208,826 Teva PharmaceuticalFinance Netherlands II EUR 1.625% 15/10/28 190,899 0.13

286,909 Unilever EUR 0.375% 14/02/23 284,124 0.19584,713 Urenco Finance EUR 2.375% 02/12/24 631,129 0.43

1,134,924 Volkswagen InternationalFinance EUR 1.875% 30/03/27 1,134,870 0.77

442,166 Volkswagen InternationalFinance EUR 2.500% 29/12/49 442,980 0.30

998,733 Volkswagen InternationalFinance EUR 3.875% 31/12/99 992,740 0.67

1,134,924 Vonovia Finance EUR 1.625% 15/12/20 1,184,898 0.80

21,450,552 14.49Panama1,006,451 Carnival EUR 1.125% 06/11/19 1,028,957 0.70

213,366 Carnival EUR 1.875% 07/11/22 225,229 0.15

1,254,186 0.85Poland



771,748 Galp Gas NaturalDistribuicao EUR 1.375% 19/09/23 768,668 0.52

768,668 0.52Spain

226,985 Banco Santander EUR 1.375% 09/02/22 232,762 0.16363,175 Bankia EUR 3.375% 15/03/27 369,965 0.25363,176 Bankinter EUR 2.500% 06/04/27 367,064 0.25953,333 CaixaBank EUR 1.125% 17/05/24 951,468 0.64681,408 FCC Aqualia EUR 2.629% 08/06/27 680,860 0.46590,160 Gas Natural Capital

Markets EUR 1.125% 11/04/24 594,776 0.40862,542 IE2 Holdco EUR 2.875% 01/06/26 920,664 0.62862,542 Inmobiliaria Colonial EUR 1.450% 28/10/24 848,018 0.57408,572 Mapfre EUR 4.375% 31/03/47 436,427 0.30





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


363,176 Santander Issuances EUR 3.125% 19/01/27 381,718 0.26136,191 Telefonica Emisiones EUR 1.460% 13/04/26 135,472 0.09

5,919,194 4.00Sweden

965,593 Akelius ResidentialProperty EUR 1.750% 07/02/25 965,372 0.65

482,116 Hemso Fastighets EUR 1.000% 09/09/26 460,678 0.31725,443 Intrum Justitia EUR 2.750% 15/07/22 730,780 0.50



910,617 0.62United Arab Emirates1,602,513 Glencore Finance Dubai EUR 2.625% 19/11/18 1,658,327 1.12

1,658,327 1.12United Kingdom1,361,908 Barclays Bank GBP 6.750% 16/01/23 1,592,260 1.08

618,760 BAT International Finance EUR 4.875% 24/02/21 717,337 0.48477,122 BP Capital Markets EUR 0.830% 19/09/24 470,019 0.32

1,015,078 BP Capital Markets EUR 1.953% 03/03/25 1,075,230 0.73493,465 British

Telecommunications EUR 1.500% 23/06/27 482,544 0.33502,998 Cadent Finance EUR 0.625% 22/09/24 486,059 0.33741,786 FCE Bank EUR 1.615% 11/05/23 755,755 0.51

2,166,342 HSBC Holdings EUR 0.369% 27/09/22 2,185,545 1.481,384,607 HSBC Holdings GBP 6.375% 18/10/22 1,599,133 1.081,361,908 Imperial Brands Finance EUR 5.000% 02/12/19 1,517,320 1.02

340,925 Intu SGS Finance GBP 3.875% 17/03/23 421,330 0.28344,109 London Stock Exchange

Group GBP 9.125% 18/10/19 461,061 0.31472,129 Royal Bank of Scotland EUR 5.375% 30/09/19 526,739 0.36


1,420,924 Santander UK EUR 0.875% 13/01/20 1,445,039 0.98998,733 Towd Point Mortgage

Funding 2016-Granite2 GBP 2.604% 20/08/51 1,143,049 0.77992,831 Towd Point Mortgage

Funding 2016-Vantage1 GBP 2.304% 20/02/54 1,111,556 0.75883,879 Towd Point Mortgage

Funding 2017-Auburn 11 GBP 1.404% 20/05/45 986,329 0.67676,415 Trinity Acquisition EUR 2.125% 26/05/22 703,496 0.47458,056 WPP Finance 2013 EUR 0.750% 18/11/19 464,251 0.31


544,309 AbbVie EUR 0.375% 18/11/19 546,949 0.37648,722 American International

Group EUR 1.875% 21/06/27 642,500 0.43274,652 AT&T EUR 3.550% 17/12/32 299,633 0.20208,826 AT&T EUR 3.375% 15/03/34 220,935 0.15608,774 AT&T (traded in

Luxembourg) EUR 2.450% 15/03/35 561,811 0.38308,699 AT&T (traded in

United States) EUR 2.450% 15/03/35 284,885 0.19289,179 AT&T EUR 3.150% 04/09/36 285,434 0.19421,284 Avery Dennison EUR 1.250% 03/03/25 412,396 0.28433,087 Ball EUR 4.375% 15/12/23 491,075 0.33

2,285,282 Bank of America EUR 0.736% 07/02/22 2,293,966 1.55934,723 Becton Dickinson & Co EUR 0.368% 06/06/19 938,007 0.63453,970 Celanese US Holdings EUR 1.125% 26/09/23 447,672 0.30

0 Citigroup EUR 2.125% 10/09/26 0 0.00521,157 Coca-Cola EUR 0.750% 09/03/23 525,431 0.36175,232 Coca-Cola European

Partners US EUR 1.875% 18/03/30 177,201 0.12585,621 Ecolab EUR 1.000% 15/01/24 584,414 0.40910,209 General Electric EUR 1.500% 17/05/29 900,008 0.61690,487 General Electric EUR 2.125% 17/05/37 677,359 0.46


1,839,938 Goldman Sachs Group EUR 1.250% 01/05/25 1,814,385 1.23594,700 HSBC Bank USA USD 7.000% 15/01/39 730,998 0.49259,670 JPMorgan Chase & Co EUR 1.500% 26/10/22 270,352 0.18


313





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


696,844 JPMorgan Chase & Co EUR 1.500% 27/01/25 715,112 0.48838,482 JPMorgan Chase & Co EUR 1.638% 18/05/28 837,308 0.57403,579 Kraft Heinz Foods EUR 2.250% 25/05/28 404,537 0.27358,636 Levi Strauss & Co EUR 3.375% 15/03/27 363,585 0.25136,191 McDonald’s EUR 0.500% 15/01/21 136,905 0.09408,573 McDonald’s EUR 1.000% 15/11/23 412,196 0.28652,808 Molson Coors Brewing EUR 1.250% 15/07/24 649,335 0.44645,091 Morgan Stanley EUR 1.000% 02/12/22 649,679 0.44

1,495,829 Morgan Stanley EUR 1.875% 27/04/27 1,497,479 1.01349,558 Philip Morris

International EUR 2.875% 14/05/29 397,385 0.27218,360 Procter & Gamble (traded

in Luxembourg) EUR 1.125% 02/11/23 224,632 0.15572,456 Procter & Gamble (traded

in United States) EUR 1.125% 02/11/23 588,897 0.40736,339 Prologis EUR 1.375% 07/10/20 759,845 0.51907,939 Simon Property Group EUR 2.375% 02/10/20 963,608 0.65567,463 Thermo Fisher Scientific EUR 1.500% 01/12/20 587,091 0.40204,286 Thermo Fisher Scientific EUR 1.375% 12/09/28 194,634 0.13985,114 Verizon Communications EUR 1.625% 01/03/24 1,008,305 0.68625,116 VF EUR 0.625% 20/09/23 614,007 0.42453,969 Wells Fargo & Co EUR 1.000% 02/02/27 433,277 0.29647,814 Zimmer Biomet Holdings EUR 1.414% 13/12/22 658,577 0.45463,049 Zimmer Biomet Holdings EUR 2.425% 13/12/26 480,669 0.32

28,010,158 18.92






Currency Market

Value

% of

Net

Assets

OPEN ENDED FUNDS EUR %Ireland5,704,561 BNY Mellon Global Short-Dated High

Yield Bond Fund GBP 6,773,573 4.581,329,929 Insight Liquidity Funds – EUR Cash

Fund EUR 1,322,973 0.89


INVESTMENTS 146,518,176 98.99



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(8) 2-Years US Note Future 09/17 USD (1,634,329) 2,127 0.00(6) 5-Years US Note Future 09/17 USD (609,724) 485 0.00

139 Bundesrepublik Deutschland Future BOBL 09/17 EUR 18,354,847 (178,596) (0.12)52 Bundesrepublik Deutschland Future BUND 09/17 EUR 8,450,664 (126,223) (0.08)

(21) Bundesrepublik Deutschland Future BUXL 09/17 EUR (3,488,955) 61,813 0.04(5) Bundesrepublik Deutschland Future SCHATZ 09/17 EUR (558,542) 1,348 0.00(8) Long Gilt Future 09/17 GBP (1,103,670) 16,772 0.01(5) US Long Bond Future 09/17 USD (672,889) (5,097) (0.00)



Purchased Sold


in Fund% ofNet

Amount Currency Amount Currency Maturity Date Currency Assets15,186,153 EUR 12,883,294 GBP 10/07/2017 515,246 0.35

25,518 GBP 30,079 EUR 10/07/2017 (1,021) (0.00)3,535,742 EUR 3,938,268 USD 14/07/2017 84,382 0.06

526 EUR 588 USD 14/07/2017 10 0.00


314



FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** (continued)

Purchased Sold


in Fund% ofNet

Amount Currency Amount Currency Maturity Date Currency Assets419,602 USD 375,058 EUR 14/07/2017 (7,333) (0.01)

7,800 USD 7,003 EUR 14/07/2017 (167) (0.00)





* The counterparties for the future contracts are Merrill Lynch Pierce Fenner & Smith, Newedge and UBS.** The counterparties for the forward foreign exchange contracts are Goldman Sachs International and HSBC Bank.


315


AAMMF Investec Emerging MarketEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Austria

42,877 Erste Group Bank EUR 1,639,499 0.8450,156 Raiffeisen Bank International EUR 1,264,233 0.64

2,903,732 1.48Brazil

428,464 Banco Bradesco – ADR – USD 3,641,943 1.86208,585 Banco do Brasil BRL 1,687,187 0.86

70,363 Cia de Transmissao de EnergiaEletrica Paulista – Pref – BRL 1,369,782 0.70

261,287 Cosan – A – USD 1,674,853 0.85

8,373,765 4.27Chile

167,822 Enersis Americas – ADR – USD 1,582,563 0.81

1,582,563 0.81China


40,135 Autohome – ADR – USD 1,820,521 0.939,929,598 Bank of China – H – HKD 4,871,659 2.494,934,401 China Construction Bank – H – HKD 3,824,161 1.953,468,704 China Petroleum & Chemical – H – HKD 2,706,020 1.38

901,248 China Shenhua Energyn – H – HKD 2,006,506 1.021,362,177 CSPC Pharmaceutical Group HKD 1,989,229 1.021,450,086 Geely Automobile Holdings HKD 3,128,112 1.60

9,333 NetEase – ADR – USD 2,805,819 1.4327,772 New Oriental Education &

Technology Group – ADR – USD 1,957,636 1.00509,379 Ping An Insurance Group of China –

H – HKD 3,357,164 1.71340,955 Tencent Holdings HKD 12,194,360 6.22

51,471,836 26.26Colombia

3,880 Bancolombia – ADR – USD 172,831 0.09


308,904 Moneta Money Bank CZK 1,033,418 0.53

1,033,418 0.53Hong Kong

283,773 AIA Group HKD 2,073,832 1.06699,916 China Overseas Land & Investment HKD 2,048,700 1.04604,913 China State Construction International

Holdings HKD 1,035,251 0.532,027,124 Lee & Man Paper Manufacturing HKD 1,882,629 0.96

338,490 Shenzhen International Holdings HKD 620,920 0.323,370,089 WH Group HKD 3,401,841 1.73

11,063,173 5.64Hungary

17,957 MOL Hungarian Oil & Gas HUF 1,406,380 0.7250,077 Richter Gedeon HUF 1,305,832 0.66

2,712,212 1.38India

0 Aurobindo Pharma INR 3 0.001,004,654 Federal Bank INR 1,754,015 0.90

89,077 HDFC Bank INR 2,276,696 1.1630,895 Hero MotoCorp INR 1,769,126 0.90

564,038 ITC INR 2,824,227 1.4413,735 Maruti Suzuki India INR 1,533,704 0.78

229,069 Motherson Sumi Systems INR 1,637,285 0.84193,512 Zee Entertainment Enterprises INR 1,471,007 0.75

13,266,063 6.77Indonesia

2,422,178 Astra International IDR 1,622,055 0.832,408,704 Bank Negara Indonesia Persero IDR 1,192,830 0.61

10,927,241 Telekomunikasi Indonesia Persero IDR 3,705,956 1.89


49,199 Ternium – ADR – USD 1,382,011 0.70

1,382,011 0.70Malaysia

915,403 Genting Malaysia MYR 1,172,869 0.60186,580 Malayan Banking MYR 418,569 0.21

1,591,438 0.81Mexico

227,172 Cemex – ADR – USD 2,139,962 1.09






Currency Market

Value

% of

Net

Assets

SHARES USD %Mexico (continued)

10,520 Grupo Aeroportuario del Sureste –ADR – USD 2,213,474 1.13

297,552 Grupo Financiero Banorte – O – MXN 1,896,961 0.97560,296 Grupo Mexico – B – MXN 1,580,923 0.81

7,831,320 4.00Peru

9,732 Credicorp USD 1,745,899 0.89

1,745,899 0.89Poland

43,753 Dino Polska PLN 553,231 0.28129,414 Powszechna Kasa Oszczednosci Bank

Polski PLN 1,202,604 0.62

1,755,835 0.90Qatar

22,146 Qatar National Bank QAR 768,358 0.39

768,358 0.39Russia

1,192 Lukoil – ADR – (traded in UnitedKingdom) USD 58,056 0.03

60,959 Lukoil – ADR – (traded inUnited States) USD 2,974,173 1.52

1,360,686 Magnitogorsk Iron & Steel Works RUB 765,646 0.3917 Magnitogorsk Iron & Steel Works –

GDR – USD 128 0.0052,556 Mail.Ru Group – GDR – USD 1,384,860 0.70

130,935 Polymetal International GBP 1,464,371 0.75


109,900 Mondi GBP 2,875,079 1.4787,505 Nedbank Group ZAR 1,394,398 0.71

278,471 RMB Holdings ZAR 1,248,632 0.64


53,120 Hana Financial Group KRW 2,100,843 1.0764,737 KB Financial Group KRW 3,264,721 1.67

388 KB Financial Group – ADR – USD 19,579 0.017,236 LG Chem KRW 1,840,294 0.94

0 NAVER KRW 1 0.006,125 POSCO KRW 1,536,369 0.78

12,981 POSCO – ADR – USD 812,477 0.424,353 Samsung Electronics KRW 9,044,598 4.614,570 Samsung Electronics – GDR – USD 4,729,557 2.41

22,418 Samsung Life Insurance KRW 2,292,492 1.1749,898 Shinhan Financial Group KRW 2,150,032 1.10


284,010 Glencore GBP 1,059,522 0.54

1,059,522 0.54Taiwan

131,453 Catcher Technology TWD 1,570,776 0.801,322,741 China Life Insurance TWD 1,317,523 0.671,325,062 Hon Hai Precision Industry TWD 5,096,394 2.60

474,051 Micro-Star International TWD 1,101,755 0.5627,105 Silicon Motion Technology – ADR – USD 1,307,260 0.67

1,201,148 Taiwan Semiconductor Manufacturing TWD 8,232,719 4.20

18,626,427 9.50Thailand

149,281 PTT THB 1,625,961 0.83146,200 Siam Cement THB 2,160,505 1.10

3,786,466 1.93Turkey

588,183 Akbank TRY 1,636,369 0.8489,615 Tupras Turkiye Petrol Rafinerileri TRY 2,574,575 1.31

566,279 Turkiye Garanti Bankasi TRY 1,573,823 0.80


1,802,595 Aldar Properties AED 1,128,785 0.581,111,421 Emaar Properties AED 2,354,200 1.20

378,265 First Abu Dhabi Bank AED 1,081,359 0.55


849,995 Old Mutual ZAR 2,122,635 1.08

2,122,635 1.08


316






Currency Market

Value

% of

Net

Assets

SHARES USD %United States

10,316 Broadcom USD 2,404,083 1.2342,539 Flex USD 693,809 0.35

351,635 Nexteer Automotive Group HKD 551,342 0.28


INVESTMENTS 193,724,996 98.83




317


AAMMF Henderson European Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Austria

57,574 Lenzing EUR 9,033,379 2.39

9,033,379 2.39Belgium

50,057 Solvay EUR 5,881,694 1.56

5,881,694 1.56Denmark

109,568 Dfds DKK 5,112,165 1.3684,153 Vestas Wind Systems DKK 6,802,448 1.80

11,914,613 3.16Finland

269,768 UPM-Kymmene EUR 6,733,403 1.78

6,733,403 1.78France

122,277 Amundi EUR 7,746,251 2.0583,513 Arkema EUR 7,802,654 2.0752,394 Atos EUR 6,439,177 1.71

254,702 BNP Paribas EUR 16,061,487 4.2685,536 Cie Generale des Etablissements

Michelin EUR 9,956,364 2.64111,929 Faurecia EUR 4,977,503 1.32

48,290 Renault EUR 3,827,002 1.010 Rubis EUR 1 0.00

131,721 Sanofi EUR 11,032,932 2.92228,543 Societe Generale EUR 10,766,667 2.85344,471 TOTAL EUR 14,910,407 3.95

49,302 Vinci EUR 3,684,375 0.98

97,204,820 25.76Germany

111,048 Aareal Bank EUR 3,854,483 1.0238,720 Allianz EUR 6,675,428 1.7796,292 BASF EUR 7,808,333 2.0787,805 Bayer EUR 9,939,485 2.64

201,634 Deutsche Post EUR 6,617,624 1.7547,991 MTU Aero Engines EUR 5,926,843 1.57

426,754 RWE EUR 7,444,732 1.97305,628 Schaeffler – Pref – EUR 3,832,572 1.02100,642 Siemens EUR 12,112,269 3.21

64,211,769 17.02Ireland


4,118,734 1.09Italy

273,837 Azimut Holding EUR 4,805,836 1.27


261,488 ArcelorMittal EUR 5,193,147 1.38


106,626 Euronext EUR 4,846,169 1.28103,557 Koninklijke Ahold Delhaize EUR 1,733,544 0.46

56,287 Philips Lighting EUR 1,819,194 0.48176,088 Randstad Holding EUR 9,001,618 2.39171,245 Wolters Kluwer EUR 6,347,188 1.68

23,747,713 6.29Spain


114,962 Amadeus IT Group EUR 6,018,240 1.591,255,894 Banco Santander EUR 7,274,139 1.93


0 Red Electrica EUR 0 0.00

23,054,840 6.11Sweden

219,615 Intrum Justitia SEK 6,529,088 1.73418,939 Sandvik SEK 5,770,194 1.53


230,304 Logitech International CHF 7,432,578 1.9715,880 Partners Group Holding CHF 8,643,555 2.2926,341 Roche Holding CHF 5,889,107 1.5667,521 Wolseley GBP 3,624,229 0.96

25,589,469 6.78


AAMMF Henderson European Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %United Kingdom

975,695 BP GBP 4,920,389 1.30700,978 GlaxoSmithKline GBP 13,056,673 3.46119,580 Imperial Brands GBP 4,696,405 1.25134,171 Johnson Matthey GBP 4,387,029 1.16

0 Jupiter Fund Management GBP 0 0.003,125,123 Legal & General Group GBP 9,193,256 2.44

207,643 Micro Focus International GBP 5,370,479 1.42370,426 Persimmon GBP 9,458,354 2.51217,867 RELX EUR 3,921,615 1.04454,692 Sage Group GBP 3,562,735 0.94314,743 Smiths Group GBP 5,724,510 1.52156,036 Unilever – CVA – EUR 7,539,659 2.00312,491 WPP GBP 5,744,057 1.52


INVESTMENTS 371,363,860 98.41




318


AAMMF Numeric Emerging MarketEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Brazil

0 Banco Bradesco BRL 4 0.00437,603 Banco do Brasil BRL 3,539,657 0.93260,287 Banco do Estado do Rio Grande do

Sul – Pref – BRL 1,032,271 0.27483,958 Banco Santander Brasil – ADR – USD 3,644,201 0.96125,247 Braskem – Pref – BRL 1,292,824 0.34

91,849 BTG Pactual Group BRL 415,827 0.11253,145 Cia de Saneamento Basico do Estado

de Sao Paulo – ADR – USD 2,409,936 0.63166,244 Cia de Saneamento do Parana – Pref

– BRL 546,914 0.1429,437 Cia Paranaense de Energia – ADR – USD 216,066 0.0633,048 Gafisa BRL 107,924 0.03

136,469 Itau Unibanco Holding – ADR – USD 1,507,983 0.391,349,202 JBS BRL 2,659,107 0.70


1,593,595 Metalurgica Gerdau – Pref – BRL 2,390,452 0.63279,367 MRV Engenharia e Participacoes BRL 1,139,980 0.30188,857 Petroleo Brasileiro – ADR – USD 1,508,971 0.39353,692 Petroleo Brasileiro – Pref – BRL 1,320,506 0.35137,832 Sao Martinho BRL 715,522 0.19

35,922 TIM Participacoes – ADR – USD 531,643 0.14129,467 Transmissora Alianca de Energia

Eletrica BRL 861,228 0.22157,221 Vale – ADR – USD 1,375,687 0.36198,670 Vale – Pref – BRL 1,613,582 0.42

30,011,444 7.87Chile

41,122 CAP CLP 328,360 0.09

328,360 0.09China

1,845,152 Agile Property Holdings HKD 1,689,992 0.447,693,585 Agricultural Bank of China – H – HKD 3,636,650 0.95

112,502 Alibaba Group Holding – ADR – USD 15,851,589 4.1619,230 Autohome – ADR – USD 872,261 0.23

1,412,342 BAIC Motor – H – HKD 1,369,564 0.369,164,293 Bank of China – H – HKD 4,496,185 1.18

727,459 BYD Electronic International HKD 1,442,534 0.3813,985 Changyou.com – ADR – USD 542,069 0.14

4,742,019 China Cinda Asset Management – H– HKD 1,767,676 0.46

541,365 China Communications Construction– H – HKD 697,645 0.18

11,387,273 China Construction Bank – H – HKD 8,825,139 2.32909,042 China Evergrande Group HKD 1,632,595 0.43

2,352,118 China Huarong Asset Management –H – HKD 912,952 0.24

109,401 China Lesso Group Holdings HKD 84,085 0.021,580,109 China National Building Material –

H – HKD 939,186 0.25509,785 China Petroleum & Chemical – H – HKD 397,696 0.10951,618 China Railway Construction – H – HKD 1,240,957 0.33715,617 China Railway Group – H – HKD 563,770 0.15238,821 China Shenhua Energyn – H – HKD 531,702 0.14

5,301,993 China Telecom – H – HKD 2,519,762 0.66776,520 China Yongda Automobiles Services

Holdings HKD 790,800 0.21579,430 China ZhengTong Auto Services

Holdings HKD 463,903 0.12607,908 Chinammunications Services – H – HKD 350,426 0.09

2,047,036 CIFI Holdings Group HKD 909,916 0.24740,993 Country Garden Holdings HKD 859,032 0.23

1,531,612 Dongfeng Motor Group – H – HKD 1,810,910 0.481,189,875 Fufeng Group HKD 640,173 0.171,133,483 Geely Automobile Holdings HKD 2,445,138 0.643,174,880 Guangzhou Automobile Group – H – HKD 5,571,784 1.461,335,592 Guangzhou R&F Properties – H – HKD 2,077,012 0.55

784,979 Harbin Electric – H – HKD 396,188 0.107,280,795 Industrial & Commercial Bank of

China – H – HKD 4,915,139 1.2963,952 JA Solar Holdings – ADR – USD 406,096 0.11

1,717,424 KWG Property Holding HKD 1,150,603 0.301,408,677 Logan Property Holdings HKD 929,319 0.24

884,229 Lonking Holdings HKD 277,509 0.075,583 Momo – ADR – USD 206,341 0.05

13,478 NetEase – ADR – USD 4,051,811 1.06






Currency Market

Value

% of

Net

Assets


22,839 New Oriental Education &Technology Group – ADR – USD 1,609,909 0.42

891,560 Powerlong Real Estate Holdings HKD 383,739 0.102,030,401 Shui On Land HKD 491,575 0.13

8,572 SINA USD 728,330 0.19354,707 Sino-Ocean Group Holding HKD 173,572 0.05402,640 Sinopec Shanghai Petrochemical – H

– HKD 215,596 0.06627,081 Sinotruk Hong Kong HKD 455,463 0.12762,422 Tianneng Power International HKD 626,037 0.16774,265 Times Property Holdings HKD 484,011 0.13

299 Weibo – ADR – USD 19,866 0.01123,781 Weiqiao Textile – H – HKD 88,478 0.02322,563 Yanzhou Coal Mining – H – HKD 289,241 0.08

69,125 Yirendai – ADR – USD 1,728,124 0.451,768,459 Yuzhou Properties HKD 1,046,606 0.27

48,554 YY – ADR – USD 2,817,569 0.74761,012 Zhongsheng Group Holdings HKD 1,419,383 0.37

90,843,608 23.83Colombia

115,982 Ecopetrol – ADR – USD 1,054,275 0.28

1,054,275 0.28Greece

9,393 Motor Oil Hellas Corinth Refineries EUR 204,294 0.05

204,294 0.05Hong Kong

1,915,078 China Agri-Industries Holdings HKD 794,837 0.21522,192 China Everbright HKD 1,137,170 0.30

1,074,835 China Resources Cement Holdings HKD 534,220 0.14801,333 Haier Electronics Group HKD 2,083,797 0.54509,221 K Wah International Holdings HKD 309,194 0.08596,347 Kingboard Chemical Holdings HKD 2,375,779 0.62943,441 Kingboard Laminates Holdings HKD 1,138,445 0.30906,222 Nine Dragons Paper Holdings HKD 1,207,298 0.32

1,136,021 Shimao Property Holdings HKD 1,944,192 0.51237,975 Sun Art Retail Group HKD 189,613 0.05

4,936,572 Yuexiu Property HKD 841,053 0.22

12,555,598 3.29Hungary


902,828 0.24India

78,937 Adani Enterprises INR 161,935 0.04246,584 Balrampur Chini Mills INR 576,046 0.15

0 Bharat Petroleum INR 0 0.00132,914 Chennai Petroleum INR 727,828 0.19553,394 Hindalco Industries INR 1,634,818 0.43242,743 Hindustan Petroleum INR 1,916,599 0.50338,725 Indian Oil INR 2,018,596 0.53806,494 Oil & Natural Gas INR 1,962,662 0.52

1,173,684 Power Finance INR 2,227,979 0.58111,168 Power Grid of India INR 362,117 0.10

47,050 Rajesh Exports INR 501,851 0.130 Reliance Infrastructure INR 0 0.00

1,008,947 Rural Electrification INR 2,684,021 0.70262,467 Tata Motors – A – INR 1,069,155 0.28

47,568 Tata Steel INR 401,632 0.111,224,067 Vedanta INR 4,716,362 1.24

20,961,601 5.50Indonesia

8,597,609 Adaro Energy IDR 1,019,263 0.270 Bank Negara Indonesia Persero IDR 0 0.00

4,321,953 Delta Dunia Makmur IDR 275,645 0.071,328,543 Gajah Tunggal IDR 112,643 0.03

93,442 Gudang Garam IDR 548,977 0.15420,291 Indo Tambangraya Megah IDR 545,566 0.14169,571 United Tractors IDR 349,258 0.09

2,851,352 0.75Malaysia

3,302,157 AirAsia MYR 2,500,090 0.662,261,270 CIMB Group Holdings MYR 3,466,194 0.91

350,308 Malayan Banking MYR 785,871 0.211,053,575 Malaysia Building Society MYR 326,431 0.08

7,078,586 1.86


319






Currency Market

Value

% of

Net

Assets

SHARES USD %Malta

53,395 Brait ZAR 246,632 0.06

246,632 0.06Mexico

296,285 America Movil – ADR – USD 4,716,850 1.24115,058 Cemex – ADR – USD 1,083,847 0.28207,202 Macquarie Mexico Real Estate


6,867,186 1.80Poland

4,880 KGHM Polska Miedz PLN 145,617 0.041,031,967 Tauron Polska Energia PLN 996,263 0.26

1,141,880 0.30Russia

590,934 Alrosa RUB 862,939 0.23800,926,880 Federal Grid Unified Energy System RUB 2,316,210 0.61

32,123,806 Inter RAO UES RUB 2,077,495 0.5452,405 Lukoil – ADR – USD 2,552,136 0.6735,692 Novolipetsk Steel – GDR – USD 690,992 0.1821,153 Ros Agro – GDR – USD 246,429 0.0624,829 Severstal – GDR – USD 325,763 0.0949,269 Tatneft – ADR – USD 1,857,431 0.49


216,002 Barloworld ZAR 1,793,631 0.4719,952 Bid ZAR 455,644 0.12

321,775 Exxaro Resources ZAR 2,283,920 0.60479,082 Growthpoint Properties ZAR 895,090 0.23175,988 Investec ZAR 1,296,150 0.34353,124 Sappi ZAR 2,347,156 0.62270,565 Standard Bank Group ZAR 2,974,410 0.78

14,281 Tiger Brands ZAR 400,984 0.11

12,446,985 3.27South Korea

2,303 BGF retail KRW 203,303 0.0553,927 DMS KRW 445,407 0.1290,316 Dongbu HiTek KRW 1,776,076 0.47

9,847 Dongkuk Steel Mill KRW 126,079 0.0313,107 E-MART KRW 2,686,402 0.70

108,143 Hana Financial Group KRW 4,276,960 1.121,505 Hyundai Motor – Pref – KRW 148,649 0.041,950 Hyundai Motor – Pref – (traded in

South Korea) KRW 198,500 0.0542,008 JB Financial Group KRW 233,512 0.0699,804 KB Financial Group KRW 5,033,161 1.32

4,685 Korea Gas KRW 217,843 0.065,417 Korea Petrochemical Ind KRW 1,197,716 0.31

15,433 KT KRW 439,741 0.124,920 KT&G KRW 503,138 0.13

68,392 LG Electronics KRW 4,794,016 1.269,771 LG Uplus KRW 133,224 0.041,135 Lotte Chemical KRW 341,302 0.09

16,160 POSCO KRW 4,053,530 1.069,296 Samsung Electronics KRW 19,313,192 5.072,578 Samsung Electronics – Pref – KRW 4,194,951 1.10

18,984 SD Biotechnologies KRW 213,209 0.065,671 Shinhan Financial Group KRW 244,348 0.061,312 SK Holdings KRW 318,843 0.08

174,239 SK Hynix KRW 10,264,126 2.6912,102 SK Innovation KRW 1,676,467 0.44

235,570 Woori Bank KRW 3,798,693 1.00

66,832,388 17.53Taiwan

6,248,818 AU Optronics TWD 2,855,311 0.7514,098 Catcher Technology TWD 168,463 0.04

2,204,370 Cathay Financial Holding TWD 3,630,472 0.9594,739 Chailease Holding TWD 264,098 0.07

126,882 China General Plastics TWD 117,623 0.031,829,362 Compeq Manufacturing TWD 1,491,393 0.393,737,674 CTBC Financial Holding TWD 2,451,236 0.64

687,985 E Ink Holdings TWD 640,038 0.17320,308 Formosa Chemicals & Fibre TWD 1,005,568 0.26

68,798 Formosa Plastics TWD 209,652 0.062,307,004 Fubon Financial Holding TWD 3,674,371 0.96

384,595 General Interface Solution Holding TWD 2,844,635 0.75






Currency Market

Value

% of

Net

Assets

SHARES USD %Taiwan (continued)

1,500,596 Grand Pacific Petrochemical TWD 1,045,780 0.27517,116 Hannstar Board TWD 277,937 0.07

1,581,180 Hon Hai Precision Industry TWD 6,081,463 1.606,039,603 Innolux TWD 3,156,794 0.831,000,909 Lite-On Technology TWD 1,645,149 0.43

393,053 Macronix International TWD 215,779 0.060 Micro-Star International TWD 0 0.00

1,298,148 Nanya Technology TWD 2,338,544 0.61405,460 Pegatron TWD 1,270,227 0.33

87,972 Phison Electronics TWD 1,085,911 0.29694,752 Powertech Technology TWD 2,144,549 0.56

64,287 Radiant Opto-Electronics TWD 143,072 0.047,962,012 Shin Kong Financial Holding TWD 2,120,063 0.56

194,497 Taiwan SemiconductorManufacturing – ADR – USD 6,799,602 1.78

250,945 Tripod Technology TWD 799,362 0.213,666,620 Winbond Electronics TWD 2,199,731 0.582,503,135 Wistron TWD 2,546,747 0.67

41,166 Yageo TWD 143,446 0.042,930,702 Yuanta Financial Holding TWD 1,290,973 0.34

54,657,989 14.34Thailand

19,286 Bangkok Bank THB 111,845 0.032,820,004 Charoen Pokphand Foods – NVDR – THB 2,058,761 0.543,722,222 Esso Thailand – NVDR – THB 1,106,696 0.29

212,373 Kiatnakin Bank – NVDR – THB 447,002 0.12485,537 Krung Thai Bank – NVDR – THB 268,710 0.07567,982 PTT – NVDR – THB 6,186,440 1.62470,367 PTT Exploration & Production –

NVDR – THB 1,194,265 0.311,861,393 PTT Global Chemical – NVDR – THB 3,753,472 0.982,124,857 Sansiri – NVDR – THB 141,365 0.041,049,571 Star Petroleum Refining – NVDR – THB 451,096 0.12

424,013 Supalai – NVDR – THB 324,531 0.091,059,553 Thanachart Capital – NVDR – THB 1,434,778 0.38

426,269 Tisco Financial Group – NVDR – THB 953,677 0.25

18,432,638 4.84Turkey



56,451 Tupras Turkiye Petrol Rafinerileri TRY 1,621,786 0.42784,831 Turkiye Garanti Bankasi TRY 2,181,231 0.57819,408 Turkiye Halk Bankasi TRY 3,058,924 0.80

1,231,194 Turkiye Is Bankasi – C – TRY 2,603,907 0.68890,193 Turkiye Vakiflar Bankasi – D – TRY 1,635,051 0.43

1,431,188 Yapi ve Kredi Bankasi TRY 1,824,257 0.48


203,886 Abu Dhabi Commercial Bank AED 389,126 0.101,924,949 Aldar Properties AED 1,205,403 0.32

752,165 DAMAC Properties Dubai AED 647,120 0.171,461,137 Dubai Investments AED 827,445 0.22



INVESTMENTS 356,713,328 93.59


320


AAMMF Numeric Emerging Market Equities 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets361 Mini MSCI Emerging Markets Future 09/17 USD 18,197,339 (118,819) (0.03)


DERIVATIVES (118,819) (0.03)





321


AAMMF William Blair Emerging MarketEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Argentina

7,969 MercadoLibre USD 1,999,277 1.15

1,999,277 1.15Brazil

282,809 Ambev – ADR – USD 1,552,623 0.90105,451 Banco do Brasil BRL 852,968 0.49350,669 BM&FBovespa - Bolsa de Valores

Mercadorias e Futuros BRL 2,090,309 1.21358,326 CCR BRL 1,827,724 1.05331,793 Itau Unibanco Holding – Pref – BRL 3,680,184 2.12852,311 Petroleo Brasileiro – Pref – BRL 3,182,100 1.84

94,454 Raia Drogasil BRL 1,998,688 1.1571,415 Ultrapar Participacoes BRL 1,670,884 0.96

16,855,480 9.72Chile

35,396 Sociedad Quimica y Minera de Chile –ADR – USD 1,168,781 0.67

1,168,781 0.67China


0 Baidu – ADR – USD 0 0.001,304,395 CNOOC HKD 1,428,636 0.82

43,921 Ctrip.com International – ADR – USD 2,365,566 1.363,873,509 Industrial & Commercial Bank of

China – H – HKD 2,614,940 1.518,728 NetEase – ADR – USD 2,623,824 1.51

788,623 Ping An Insurance Group of China – H– HKD 5,197,580 3.00

14,460 TAL Education Group – ADR – USD 1,768,567 1.02251,517 Tencent Holdings HKD 8,995,584 5.19

36,556,470 21.07Hong Kong1,554,972 Brilliance China Automotive Holdings HKD 2,832,492 1.631,228,874 Sun Art Retail Group HKD 979,138 0.57

3,811,630 2.20Hungary

56,954 OTP Bank HUF 1,901,907 1.10

1,901,907 1.10India

135,583 Asian Paints INR 2,313,542 1.3323,843 Bharat Petroleum INR 235,859 0.14

191,491 HCL Technologies INR 2,520,817 1.45171,424 HDFC Bank INR 4,381,361 2.53

6,107 HDFC Bank – ADR – USD 531,137 0.31201,707 Housing Development Finance INR 5,039,580 2.90107,440 IndusInd Bank INR 2,458,299 1.42

32,747 Maruti Suzuki India INR 3,656,618 2.111,565 MRF INR 1,654,740 0.95

355,610 Tata Motors INR 2,379,722 1.375 Vedanta INR 19 0.00

25,171,694 14.51Indonesia2,447,306 Astra International IDR 1,638,883 0.952,068,562 Bank Rakyat Indonesia Persero IDR 2,366,953 1.367,863,329 Telekomunikasi Indonesia Persero IDR 2,666,835 1.54

444,775 Unilever Indonesia IDR 1,628,589 0.94

8,301,260 4.79Malaysia

550,783 Public Bank MYR 2,607,227 1.50

2,607,227 1.50Mexico

176,508 Cemex – ADR – USD 1,662,707 0.9628,408 Fomento Economico Mexicano – ADR

– USD 2,793,625 1.61480,900 Grupo Financiero Banorte – O – MXN 3,065,845 1.77

7,522,177 4.34Peru

12,972 Credicorp USD 2,327,093 1.34

2,327,093 1.34Russia

46,047 Magnit – GDR – USD 1,565,601 0.9072,877 Yandex – A – USD 1,912,291 1.10

3,477,892 2.00


AAMMF William Blair Emerging MarketEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %South Africa

102,244 Bid ZAR 2,334,931 1.34179,806 Bidvest Group ZAR 2,162,475 1.25679,706 FirstRand ZAR 2,445,956 1.41

35,564 Naspers – N – ZAR 6,907,851 3.98

13,851,213 7.98South Korea

30,327 Coway KRW 2,756,686 1.5946,498 Hankook Tire KRW 2,584,697 1.49

4,786 LG Chem KRW 1,217,266 0.703,120 NAVER KRW 2,284,927 1.324,104 Samsung Electronics KRW 8,525,956 4.91

87,167 Shinhan Financial Group KRW 3,755,911 2.17

21,125,443 12.18Taiwan

19,489 Largan Precision TWD 3,107,277 1.79231,570 Taiwan Semiconductor Manufacturing

– ADR – USD 8,095,678 4.67

11,202,955 6.46Thailand2,100,639 Airports of Thailand THB 2,921,849 1.681,538,963 CP ALL THB 2,842,800 1.64

5,764,649 3.32Turkey

460,126 KOC Holding TRY 2,113,481 1.22


930,595 Emaar Properties AED 1,971,174 1.14


63,480 Yum China Holdings USD 2,503,029 1.44


INVESTMENTS 170,232,832 98.13




322


AAMMF Verrazzano Europe Long Short 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Belgium

83,816 Anheuser-Busch InBev EUR 8,105,845 6.6678,051 Telenet Group Holding EUR 4,304,513 3.54

12,410,358 10.20Finland

177,910 UPM-Kymmene EUR 4,440,634 3.65

4,440,634 3.65Germany

27,024 Allianz EUR 4,658,938 3.8342,035 Bayer EUR 4,758,362 3.91

480,713 Commerzbank EUR 5,013,837 4.1221,941 Continental EUR 4,145,752 3.41

143,193 Daimler EUR 9,074,140 7.45145,340 Deutsche Post EUR 4,770,059 3.92

26,255 Henkel & Co – Pref – EUR 3,163,727 2.6026,617 Muenchener


273,710 RWE EUR 4,774,871 3.9269,809 Siemens EUR 8,401,513 6.90

53,460,430 43.92Italy

433,103 Intesa Sanpaolo EUR 1,202,294 0.99






Currency Market

Value

% of

Net

Assets

SHARES EUR %Italy (continued)4,941,039 Telecom Italia – RSP – EUR 3,186,970 2.62

150,540 UniCredit EUR 2,461,329 2.02


212,885 ArcelorMittal EUR 4,227,896 3.47


61,261 Akzo Nobel EUR 4,661,349 3.8336,900 ASML Holding EUR 4,210,290 3.4697,950 BE Semiconductor Industries EUR 4,579,162 3.76

456,048 Koninklijke Ahold Delhaize EUR 7,634,244 6.27


95,327 Unilever – CVA – EUR 4,606,201 3.78


INVESTMENTS 107,081,157 87.97



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(131) CAC40 10 Euro Index Future 07/17 EUR (6,702,615) 162,138 0.13(225) EURO STOXX 50 Index Future 09/17 EUR (7,719,750) 299,350 0.25

(35) FTSE/MIB Index Future 09/17 EUR (3,587,325) 83,950 0.07(87) S&P 500 E-mini Index Future 09/17 USD (9,233,190) 64,123 0.05


CONTRACTS FOR DIFFERENCE**

Quantity DescriptionMaturity

Date Currency

Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets105,304 Abertis Infraestructuras 30/11/2099 EUR 1,721,640 (13,609) (0.01)(61,261) Akzo Nobel 30/11/2099 EUR (4,699,944) 38,594 0.03173,951 ALD 30/11/2099 EUR 2,467,128 (75,301) (0.06)(27,024) Allianz 30/11/2099 EUR (4,688,664) 29,726 0.02(83,816) Anheuser-Busch InBev 30/11/2099 EUR (9,153,475) 1,047,630 0.8663,841 ArcelorMittal 30/11/2099 EUR 1,176,973 90,909 0.07

(212,885) ArcelorMittal 22/05/2117 EUR (4,607,141) 379,245 0.31157,115 Ashtead Group 30/11/2099 GBP 2,900,950 6,418 0.01(36,900) ASML Holding 30/11/2099 EUR (4,503,645) 293,355 0.24

(513,344) Banco Bilbao Vizcaya Argentaria 30/11/2099 EUR (3,775,804) 46,360 0.041,263,500 Banco de Sabadell 30/11/2099 EUR 2,253,355 (5,588) (0.00)

10,166,740 Bank of Ireland 22/02/2117 EUR 2,410,046 (71,696) (0.06)290,800 Bankia 30/11/2099 EUR 1,193,127 37,539 0.03(42,035) Bayer 30/11/2099 EUR (4,876,060) 117,698 0.10(97,950) BE Semiconductor Industries 30/11/2099 EUR (4,580,142) 980 0.00(59,460) British American Tobacco 30/11/2099 GBP (3,734,428) 135,302 0.1183,022 Carrefour 30/11/2099 EUR 1,849,790 (10,853) (0.01)52,990 Cie de Saint-Gobain 30/11/2099 EUR 2,531,252 (52,380) (0.04)

152,033 Clariant 31/05/2117 CHF 2,895,926 45,672 0.04(480,713) Commerzbank 30/11/2099 EUR (4,355,260) (658,577) (0.54)

(21,941) Continental 30/11/2099 EUR (4,557,146) 411,394 0.34


323



CONTRACTS FOR DIFFERENCE** (continued)

Quantity DescriptionMaturity

Date Currency

Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets195,044 Credit Suisse Group 30/11/2099 CHF 2,376,601 108,086 0.09

(169,775) Daimler 30/11/2099 EUR (11,393,484) 634,842 0.5229,793 Danone 30/11/2099 EUR 1,921,249 39,428 0.03

(145,340) Deutsche Post 30/11/2099 EUR (4,688,668) (81,390) (0.07)12,013 Eiffage 30/11/2099 EUR 871,913 83,841 0.07

256,663 Electricite de France 30/11/2099 EUR 2,236,654 197,024 0.1663,015 Euronext 30/11/2099 EUR 2,816,747 47,285 0.0488,251 Ferrovial 30/11/2099 EUR 1,726,641 (11,483) (0.01)

206,034 Galp Energia 30/11/2099 EUR 2,817,779 (86,798) (0.07)(1,200) Givaudan 30/11/2099 CHF (2,152,473) 21,534 0.02

(342,263) Hays 30/11/2099 GBP (641,361) (2,606) (0.00)(18,760) Heineken 30/11/2099 EUR (1,632,094) 35,055 0.03(26,255) Henkel & Co 30/11/2099 EUR (3,308,130) 144,403 0.12197,070 Imperial Brands 30/11/2099 GBP 8,438,824 (513,567) (0.42)362,583 Kingfisher 30/11/2099 GBP 1,261,170 (17,993) (0.01)

(456,048) Koninklijke Ahold Delhaize 30/11/2099 EUR (8,710,517) 1,076,273 0.88(2,685,435) Lloyds Banking Group 30/11/2099 GBP (2,076,312) 50,415 0.04

(6,401) L’Oreal 30/11/2099 EUR (1,201,679) 34,137 0.0383,569 Lundin Petroleum 30/11/2099 SEK 1,585,110 (166,007) (0.14)

(26,617)Muenchener Rueckversicherungs-Gesellschaft inMuenchen 30/11/2099 EUR (4,688,584) (10,647) (0.01)

(70,675) Neste 30/11/2099 EUR (2,520,305) 82,724 0.07179,227 Ocado Group 30/11/2099 GBP 579,994 11,034 0.01264,672 Orange 30/11/2099 EUR 3,836,067 (159,773) (0.13)

95,344 Outokumpu 30/11/2099 EUR 689,996 (23,541) (0.02)37,326 Pandora 30/11/2099 DKK 3,190,289 (142,606) (0.12)

(209,501) Pearson 19/05/2117 GBP (1,740,896) 55,404 0.05740,941 Petroleum Geo-Services 30/11/2099 NOK 1,642,702 (474,334) (0.39)225,630 Peugeot 30/11/2099 EUR 4,113,199 (172,571) (0.14)190,288 Prosegur Cia de Seguridad 30/11/2099 EUR 1,068,379 14,360 0.01(37,839) Publicis Groupe 30/11/2099 EUR (2,512,179) 40,914 0.0334,860 Randstad Holding 30/11/2099 EUR 1,812,768 (30,725) (0.02)

(13,897) Reckitt Benckiser Group 30/11/2099 GBP (1,232,281) 3,966 0.0015,294 Renault 30/11/2099 EUR 1,253,463 (41,414) (0.03)

104,306 Royal Dutch Shell 30/11/2099 EUR 2,508,349 (84,799) (0.07)(273,710) RWE 30/11/2099 EUR (4,239,768) (535,103) (0.44)(109,598) Securitas 30/11/2099 SEK (1,634,023) 42,400 0.04

47,128 Shire 30/11/2099 GBP 2,392,197 (109,550) (0.09)(69,809) Siemens 30/11/2099 EUR (8,991,399) 589,886 0.48110,083 TechnipFMC 30/11/2099 EUR 3,088,946 (475,025) (0.39)390,700 Telefonaktiebolaget LM Ericsson 30/11/2099 SEK 2,402,317 25,907 0.02(78,051) Telenet Group Holding 30/11/2099 EUR (4,355,246) 50,733 0.04190,178 Thyssenkrupp 30/11/2099 EUR 4,421,486 309,192 0.25

64,894 TOTAL 30/11/2099 EUR 2,918,025 (109,088) (0.09)607,477 Tullow Oil 30/11/2099 GBP 1,299,713 (240,255) (0.20)

20,250 UCB 30/11/2099 EUR 1,262,665 (43,008) (0.04)(176,191) Unilever 30/11/2099 EUR (8,756,572) 243,023 0.20(177,910) UPM-Kymmene 30/11/2099 EUR (4,355,237) (85,397) (0.07)394,479 Vallourec 30/11/2099 EUR 2,222,822 (124,588) (0.10)143,541 Vivendi 30/11/2099 EUR 2,795,224 2,390 0.00

19,679 Volkswagen 30/11/2099 EUR 2,767,040 (142,846) (0.12)(64,874) William Demant Holding 09/06/2117 DKK (1,507,298) 37,654 0.03

TOTAL CONTRACTS FOR DIFFERENCE 1,889,614 1.55




* The counterparty for the future contracts is Newedge.** The counterparties for the contracts for difference are Goldman Sachs International, Societe Generale and UBS.


324


AAMMF Kempen Euro Corporate Bonds 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


482,627 AusNet Services Holdings EUR 2.375% 24/07/20 515,506 0.46232,129 BHP Billiton Finance EUR 0.750% 28/10/22 233,513 0.21614,556 Commonwealth Bank of

Australia EUR 1.625% 04/02/19 630,683 0.56516,027 Commonwealth Bank of

Australia EUR 0.500% 11/07/22 514,731 0.46556,107 National Australia Bank EUR 0.625% 10/11/23 552,224 0.49267,198 Origin Energy Finance EUR 2.500% 23/10/20 284,348 0.26511,017 Scentre Group Trust 1 via

Scentre Group Trust 2 EUR 1.375% 22/03/23 523,404 0.47

3,254,409 2.91Belgium

559,447 Anheuser-Busch InBev EUR 2.750% 17/03/36 596,579 0.53333,998 Argenta Spaarbank EUR 3.875% 24/05/26 360,773 0.32534,397 Groupe Bruxelles Lambert EUR 1.375% 23/05/24 533,943 0.48300,598 Proximus EUR 0.500% 22/03/22 301,245 0.27137,273 UCB EUR 4.125% 04/01/21 152,660 0.14

1,945,200 1.74Bermuda

584,497 Bacardi EUR 2.750% 03/07/23 645,907 0.58

645,907 0.58Canada

596,521 Great-West Lifeco EUR 2.500% 18/04/23 651,515 0.58




195,389 CEZ EUR 5.000% 19/10/21 232,899 0.21

232,899 0.21Denmark

283,899 Carlsberg Breweries EUR 3.375% 13/10/17 286,758 0.26671,002 Carlsberg Breweries EUR 2.500% 28/05/24 731,430 0.65293,918 Danske Bank EUR 1.250% 11/06/21 308,121 0.28551,097 Danske Bank EUR 0.750% 02/06/23 553,527 0.49290,578 Vestas Wind Systems EUR 2.750% 11/03/22 313,580 0.28

2,193,416 1.96Finland

133,265 Citycon EUR 3.750% 24/06/20 146,164 0.130 Sampo EUR 1.000% 18/09/23 0 0.00


535,703 0.48France

0 Aeroports de Paris EUR 1.500% 24/07/23 0 0.00534,397 Aeroports de Paris EUR 1.500% 07/04/25 558,532 0.50467,597 Air Liquide Finance EUR 1.250% 03/06/25 481,286 0.43333,998 ALD EUR 0.750% 26/01/18 335,608 0.30200,399 APRR EUR 1.125% 15/01/21 205,753 0.18

0 APRR EUR 1.875% 15/01/25 0 0.00355,708 AXA EUR 3.941% 29/11/49 387,299 0.35534,397 Banque Federative du




791,575 BNP Paribas EUR 2.875% 24/10/22 887,597 0.791,008,674 BNP Paribas EUR 0.750% 11/11/22 1,019,217 0.91

420,838 BNP Paribas EUR 1.125% 15/01/23 432,688 0.39237,139 BNP Paribas EUR 1.500% 17/11/25 238,012 0.21524,377 BNP Paribas EUR 2.625% 14/10/27 554,388 0.50100,199 BNP Paribas Cardif EUR 4.032% 29/11/49 107,191 0.10701,396 BPCE EUR 0.375% 05/10/23 685,640 0.61734,796 BPCE EUR 2.875% 22/04/26 779,681 0.70

0 Bureau Veritas EUR 3.750% 24/05/17 0 0.00267,198 Bureau Veritas EUR 1.250% 07/09/23 267,305 0.24

0 Carmila EUR 2.375% 16/09/24 0 0.00567,797 Christian Dior EUR 1.375% 19/06/19 579,807 0.52





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


187,039 Cie de Saint-Gobain EUR 4.500% 30/09/19 205,512 0.18634,596 Cie Financiere et

Industrielle des Autoroutes EUR 0.375% 07/02/25 606,321 0.54534,397 Coentreprise de Transport

d’Electricite EUR 0.875% 29/09/24 529,695 0.47534,397 Coentreprise de Transport

d’Electricite EUR 2.125% 29/07/32 537,170 0.48200,399 Credit Agricole EUR 3.875% 13/02/19 213,180 0.19100,199 Credit Agricole EUR 0.875% 19/01/22 102,289 0.09534,397 Credit Agricole EUR 0.750% 01/12/22 539,840 0.48233,799 Credit Agricole EUR 1.875% 20/12/26 238,801 0.21400,798 Credit Agricole EUR 1.375% 03/05/27 402,627 0.36233,799 Credit Agricole Assurances EUR 4.250% 29/01/49 250,191 0.22200,399 Credit Agricole Assurances EUR 4.500% 31/10/49 216,807 0.19267,198 Danone EUR 0.424% 03/11/22 265,189 0.24267,198 Electricite de France EUR 2.750% 10/03/23 297,121 0.27400,798 Electricite de France EUR 1.875% 13/10/36 363,951 0.33333,998 Electricite de France EUR 5.375% 29/01/49 369,328 0.33126,919 Engie EUR 1.500% 20/07/17 127,022 0.11

0 Engie EUR 0.500% 13/03/22 0 0.00768,196 Engie EUR 0.875% 27/03/24 772,275 0.69233,799 Gecina EUR 2.000% 30/06/32 231,713 0.21634,596 HSBC France EUR 1.625% 03/12/18 649,862 0.58267,198 Orange EUR 4.125% 23/01/19 284,134 0.25387,438 Orange EUR 5.250% 29/12/49 442,657 0.40500,329 RCI Banque EUR 0.625% 10/11/21 499,967 0.45

0 RCI Banque EUR 1.250% 08/06/22 0 0.00809,945 Schlumberger Finance

France EUR 0.625% 12/02/19 818,304 0.73100,199 SCOR EUR 3.000% 08/06/46 106,433 0.10133,599 SCOR EUR 3.875% 29/10/49 145,853 0.13233,799 SEB EUR 2.375% 25/11/22 249,383 0.22801,595 SEB EUR 1.500% 31/05/24 808,986 0.72367,398 Societe Generale EUR 2.375% 28/02/18 373,783 0.33434,198 Societe Generale EUR 0.750% 19/02/21 441,696 0.39233,799 Societe Generale EUR 0.469% 22/05/24 234,412 0.21133,599 Suez EUR 2.750% 09/10/23 150,119 0.13390,444 TOTAL EUR 2.625% 29/12/49 387,191 0.35275,214 TOTAL EUR 3.875% 29/12/49 297,103 0.27233,799 Total Capital International EUR 0.250% 12/07/23 229,324 0.21115,229 Unibail-Rodamco EUR 1.375% 09/03/26 117,044 0.10

21,301,894 19.04Germany

567,797 Allianz EUR 2.241% 07/07/45 571,710 0.51233,799 Allianz EUR 3.099% 06/07/47 246,304 0.22

0 Allianz EUR 4.750% 29/10/49 0 0.0060,788 Bayer EUR 2.375% 02/04/75 61,410 0.06


267,198 Bundesschatzanweisungen EUR 0.000% 15/12/17 268,038 0.24280,558 Continental EUR 3.125% 09/09/20 306,336 0.27678,684 Daimler EUR 0.500% 09/09/19 685,237 0.61467,597 Deutsche Bank EUR 1.500% 20/01/22 479,226 0.43474,277 E.ON EUR 0.375% 23/08/21 472,833 0.42217,099 EnBW Energie


Baden-Wuerttemberg EUR 3.375% 05/04/77 26,996 0.03135,269 Evonik Industries EUR 2.125% 07/07/77 135,207 0.12462,587 Fraport Frankfurt Airport

Services Worldwide EUR 5.250% 10/09/19 512,119 0.46331,660 Fresenius & Co EUR 4.000% 01/02/24 384,385 0.34218,101 HeidelbergCement EUR 2.250% 30/03/23 233,474 0.21561,117 Henkel & Co EUR 0.000% 13/09/18 562,095 0.50871,735 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 28/04/22 875,047 0.781,026,042 Landwirtschaftliche

Rentenbank EUR 0.625% 20/02/30 979,830 0.88394,118 Symrise EUR 1.750% 10/07/19 405,870 0.36516,027 Volkswagen Leasing EUR 2.625% 15/01/24 562,585 0.50

8,360,014 7.47


325





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Hong Kong

601,531 CK Hutchison Finance 16 EUR 1.250% 06/04/23 606,926 0.54103,539 CK Hutchison Finance 16 EUR 2.000% 06/04/28 104,555 0.10

711,481 0.64Ireland

0 Aquarius + Investments forRelx Finance EUR 0.172% 22/05/17 0 0.00

257,179 Bank of Ireland EUR 1.250% 09/04/20 264,375 0.24577,817 Bank of Ireland EUR 4.250% 11/06/24 610,586 0.55270,872 Cloverie for Zurich

Insurance EUR 1.750% 16/09/24 285,987 0.26462,587 ESB Finance DAC EUR 3.494% 12/01/24 536,675 0.48

0 ESB Finance DAC EUR 1.750% 07/02/29 0 0.00165,663 FCA Bank Ireland EUR 1.000% 15/11/21 166,514 0.15429,522 GE Capital European

Funding EUR 2.875% 18/06/19 453,015 0.40474,277 PartnerRe Ireland Finance

DAC EUR 1.250% 15/09/26 453,514 0.40

2,770,666 2.48Italy

269,203 Assicurazioni Generali EUR 5.500% 27/10/47 300,481 0.27267,198 Assicurazioni Generali EUR 5.000% 08/06/48 287,418 0.26542,079 Davide Campari-Milano EUR 2.750% 30/09/20 579,926 0.52

0 Eni EUR 0.625% 19/09/24 0 0.00754,836 Eni EUR 1.500% 17/01/27 752,089 0.67868,395 Intesa Sanpaolo EUR 4.000% 08/11/18 915,445 0.82133,599 Intesa Sanpaolo EUR 4.375% 15/10/19 146,290 0.13133,599 Intesa Sanpaolo EUR 4.125% 14/04/20 147,999 0.13612,552 Intesa Sanpaolo EUR 1.375% 18/01/24 615,317 0.55464,257 Terna Rete Elettrica

Nazionale EUR 2.875% 16/02/18 472,925 0.42

4,217,890 3.77Jersey

190,379 Heathrow Funding EUR 1.875% 23/05/22 202,480 0.18


222,109 CNH Industrial FinanceEurope EUR 6.250% 09/03/18 231,421 0.20

285,568 CNH Industrial FinanceEurope EUR 1.375% 23/05/22 288,212 0.26

76,820 DH Europe Finance EUR 1.000% 08/07/19 78,076 0.07420,837 GELF Bond Issuer I EUR 1.750% 22/11/21 437,481 0.3966,800 GELF Bond Issuer I EUR 0.875% 20/10/22 66,349 0.06

377,418 Glencore Finance Europe EUR 4.625% 03/04/18 390,523 0.35482,627 Glencore Finance Europe EUR 1.875% 13/09/23 489,187 0.44268,200 Glencore Finance Europe EUR 1.750% 17/03/25 262,339 0.2333,400 Grand City Properties EUR 2.000% 29/10/21 35,251 0.03

475,947 Simon InternationalFinance EUR 1.375% 18/11/22 489,954 0.44

131,929 Simon InternationalFinance EUR 1.250% 13/05/25 131,363 0.12

2,900,156 2.59Mexico

327,318 America Movil EUR 3.000% 12/07/21 357,717 0.32114,561 America Movil EUR 4.750% 28/06/22 136,725 0.12


644,616 ABN AMRO Bank EUR 4.750% 11/01/19 692,178 0.62340,678 Achmea Bank EUR 0.875% 17/09/18 344,449 0.31337,338 Alliander EUR 4.500% 17/12/19 374,584 0.33109,217 ASR Nederland EUR 5.125% 29/09/45 123,311 0.11885,095 BMW Finance EUR 1.500% 05/06/18 899,306 0.80782,891 Cooperatieve Rabobank EUR 4.000% 11/01/22 910,118 0.81152,971 Cooperatieve Rabobank EUR 4.750% 06/06/22 185,256 0.17113,559 Delta Lloyd



Zurich Insurance EUR 3.500% 01/10/46 130,941 0.12761,516 Deutsche Bahn Finance EUR 0.875% 11/07/31 701,794 0.63





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


790,239 Deutsche TelekomInternational Finance EUR 0.625% 03/04/23 787,730 0.70

537,737 Deutsche TelekomInternational Finance EUR 1.500% 03/04/28 535,414 0.48

728,116 EDP Finance EUR 2.375% 23/03/23 774,034 0.69243,819 Enel Finance International EUR 5.250% 29/09/23 309,266 0.28591,177 Enexis Holding EUR 1.500% 20/10/23 619,219 0.55434,197 Enexis Holding EUR 0.875% 28/04/26 425,746 0.38

0 Gas Natural FenosaFinance EUR 1.375% 19/01/27 0 0.00

444,217 Heineken EUR 2.500% 19/03/19 462,832 0.41379,088 Heineken EUR 3.500% 19/03/24 443,563 0.40233,131 Heineken EUR 1.500% 07/12/24 241,880 0.22604,536 Heineken EUR 2.875% 04/08/25 687,748 0.61

0 ING Bank EUR 0.326% 05/06/17 0 0.00891,775 ING Bank EUR 1.250% 13/12/19 918,810 0.82300,598 ING Groep EUR 2.500% 15/02/29 313,770 0.28400,798 JAB Holdings EUR 1.250% 22/05/24 404,177 0.36400,798 JAB Holdings EUR 2.000% 18/05/28 405,448 0.36694,716 Koninklijke KPN EUR 6.125% 29/03/49 738,761 0.66567,797 LeasePlan EUR 1.000% 08/04/20 577,469 0.52804,935 RELX Finance EUR 1.000% 22/03/24 808,373 0.72506,007 Samvardhana Motherson

Automotive Systems Group EUR 1.800% 06/07/24 498,144 0.45584,497 Schaeffler Finance EUR 3.250% 15/05/25 627,200 0.56463,255 Teva Pharmaceutical

Finance Netherlands II EUR 1.250% 31/03/23 457,915 0.41567,797 Teva Pharmaceutical

Finance Netherlands II EUR 1.125% 15/10/24 544,883 0.49195,389 Vesteda Finance EUR 1.750% 22/07/19 200,551 0.18534,397 Volkswagen International





Finance EUR 3.875% 31/12/99 298,795 0.27200,399 Vonovia Finance EUR 1.250% 06/12/24 200,192 0.18267,198 Vonovia Finance EUR 4.000% 29/12/49 287,983 0.2666,800 Vonovia Finance EUR 4.625% 08/04/74 70,799 0.06

217,099 Wolters Kluwer EUR 6.375% 10/04/18 227,911 0.20

18,679,526 16.69New Zealand


541,077 ASB Finance EUR 0.500% 10/06/22 535,814 0.48

804,228 0.72Spain

267,199 Abertis Infraestructuras EUR 1.375% 20/05/26 265,117 0.24300,598 Cellnex Telecom EUR 2.375% 16/01/24 308,491 0.28200,399 Cellnex Telecom EUR 2.875% 18/04/25 207,751 0.18300,598 Ferrovial Emisiones EUR 1.375% 31/03/25 300,706 0.27300,598 Gas Natural Capital

Markets EUR 1.125% 11/04/24 302,949 0.27300,598 Inmobiliaria Colonial EUR 1.450% 28/10/24 295,537 0.26280,558 Merlin Properties Socimi EUR 1.750% 26/05/25 279,683 0.25300,598 Santander Consumer

Finance EUR 0.900% 18/02/20 306,329 0.27734,796 Santander Consumer

Finance EUR 1.500% 12/11/20 762,260 0.68434,198 Santander Issuances EUR 2.500% 18/03/25 444,635 0.40400,798 Telefonica Emisiones EUR 2.932% 17/10/29 435,143 0.39

3,908,601 3.49Sweden

326,984 Nordea Bank EUR 1.375% 12/04/18 331,210 0.3087,173 Nordea Bank EUR 4.000% 11/07/19 94,256 0.0880,160 Nordea Bank EUR 2.000% 17/02/21 85,258 0.08

235,469 PZU Finance EUR 1.375% 03/07/19 240,855 0.21173,679 Scania EUR 0.018% 24/10/18 174,200 0.15


326





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Sweden (continued)

434,197 Scania CV EUR 0.069% 20/04/20 435,808 0.39845,015 Svenska Handelsbanken EUR 1.125% 14/12/22 871,198 0.78





293,918 Aviva EUR 3.875% 03/07/44 316,698 0.28536,067 Barclays EUR 1.875% 08/12/23 556,206 0.50586,167 Barclays EUR 2.625% 11/11/25 603,729 0.54601,196 BAT International Finance EUR 0.375% 13/03/19 604,074 0.54

0 BAT International Finance EUR 2.375% 19/01/23 0 0.00637,936 BG Energy Capital EUR 1.250% 21/11/22 660,428 0.59362,388 BP Capital Markets EUR 1.117% 25/01/24 366,842 0.33547,757 British

Telecommunications EUR 0.625% 10/03/21 549,925 0.49641,276 British

Telecommunications EUR 1.500% 23/06/27 627,084 0.56297,258 Cadent Finance EUR 0.625% 22/09/24 287,248 0.26600,862 Compass Group EUR 3.125% 13/02/19 630,505 0.56739,806 Credit Suisse EUR 1.000% 07/06/23 751,796 0.67450,897 Diageo Finance EUR 1.125% 20/05/19 459,321 0.41888,435 EE Finance EUR 3.250% 03/08/18 919,574 0.82289,910 G4S International Finance EUR 1.500% 09/01/23 294,197 0.26339,008 Global Switch Holdings EUR 1.500% 31/01/24 339,772 0.30572,807 Imperial Brands Finance EUR 1.375% 27/01/25 570,516 0.51354,038 Jaguar Land Rover

Automotive EUR 2.200% 15/01/24 358,412 0.32445,887 Nationwide Building

Society EUR 0.500% 29/10/19 450,076 0.400 Nationwide Building

Society EUR 1.125% 03/06/22 0 0.00602,866 Nationwide Building

Society EUR 0.625% 19/04/23 597,287 0.53303,938 Royal Bank of Scotland

Group EUR 2.500% 22/03/23 323,135 0.29203,739 Santander UK EUR 2.625% 16/07/20 218,132 0.20542,747 Santander UK EUR 0.875% 25/11/20 552,490 0.49415,828 Sky EUR 1.875% 24/11/23 436,102 0.39203,739 Sky EUR 2.500% 15/09/26 219,004 0.20238,475 Standard Chartered EUR 3.625% 23/11/22 263,567 0.24530,723 Vodafone Group EUR 0.500% 30/01/24 511,845 0.46293,918 WPP Finance 2013 EUR 0.750% 18/11/19 297,893 0.27


333,998 Apple EUR 1.375% 17/01/24 347,380 0.31566,127 AT&T EUR 1.800% 04/09/26 561,173 0.50156,311 AT&T EUR 2.350% 04/09/29 154,646 0.14384,098 AT&T EUR 3.550% 17/12/32 419,034 0.37

0 AT&T EUR 2.450% 15/03/35 0 0.00333,998 AT&T EUR 3.150% 04/09/36 329,673 0.29507,677 Avery Dennison EUR 1.250% 03/03/25 496,967 0.44150,299 Bank of America EUR 4.625% 07/08/17 151,013 0.14723,106 Bank of America EUR 0.736% 07/02/22 725,854 0.65

0 Bank of America EUR 1.625% 14/09/22 0 0.00562,787 Bank of America EUR 1.379% 07/02/25 565,696 0.51347,358 Bank of America EUR 1.776% 04/05/27 349,428 0.31250,499 Becton Dickinson & Co EUR 0.368% 06/06/19 251,379 0.22258,848 Becton Dickinson & Co EUR 1.900% 15/12/26 257,294 0.23716,426 Berkshire Hathaway EUR 1.300% 15/03/24 733,606 0.66216,765 Citigroup EUR 5.000% 02/08/19 238,977 0.21618,230 Citigroup EUR 0.750% 26/10/23 607,819 0.54330,658 Coca-Cola EUR 0.000% 09/03/21 327,674 0.29575,479 Continental Rubber of

America EUR 0.500% 19/02/19 579,806 0.52339,676 Ecolab EUR 1.000% 15/01/24 338,976 0.30381,426 FedEx EUR 1.000% 11/01/23 384,150 0.34197,059 FedEx EUR 1.625% 11/01/27 196,989 0.18437,537 General Electric EUR 1.250% 26/05/23 452,244 0.40





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


622,906 General Electric EUR 0.875% 17/05/25 615,109 0.55485,967 General Electric EUR 1.500% 17/05/29 480,521 0.43243,485 Goldman Sachs Group EUR 0.750% 10/05/19 246,659 0.22

0 Goldman Sachs Group EUR 3.250% 01/02/23 0 0.001,319,292 Goldman Sachs Group EUR 1.375% 15/05/24 1,331,099 1.19

0 Goldman Sachs Group EUR 2.125% 30/09/24 0 0.0033,400 Illinois Tool Works (traded

in Germany) EUR 1.250% 22/05/23 34,478 0.03105,209 Illinois Tool Works (traded

in United States) EUR 1.250% 22/05/23 108,604 0.10364,726 International Business

Machines EUR 1.250% 26/05/23 375,783 0.34469,267 International Flavors &

Fragrances EUR 1.750% 14/03/24 488,822 0.44201,735 Johnson & Johnson EUR 0.650% 20/05/24 202,313 0.18723,440 JPMorgan Chase & Co EUR 0.625% 25/01/24 707,006 0.63317,298 Kellogg EUR 0.800% 17/11/22 316,023 0.28133,599 McDonald’s EUR 1.000% 15/11/23 134,784 0.12

0 Merck & Co EUR 1.125% 15/10/21 0 0.00273,878 Metropolitan Life Global

Funding I EUR 2.375% 30/09/19 288,002 0.26586,835 Microsoft EUR 3.125% 06/12/28 699,929 0.63243,819 Mohawk Industries EUR 2.000% 14/01/22 255,515 0.23551,097 Morgan Stanley EUR 0.171% 03/12/19 552,997 0.49534,397 Morgan Stanley EUR 5.375% 10/08/20 618,206 0.55332,328 Morgan Stanley EUR 1.750% 11/03/24 343,612 0.31233,799 National Grid North

America EUR 1.750% 20/02/18 236,666 0.21768,195 National Grid North

America EUR 0.750% 11/02/22 774,015 0.69547,757 Pfizer EUR 0.000% 06/03/20 546,817 0.49189,377 Priceline Group EUR 0.800% 10/03/22 188,771 0.17229,791 Priceline Group EUR 2.375% 23/09/24 244,220 0.22220,773 Prologis EUR 1.375% 07/10/20 227,821 0.20

0 RELX Capital EUR 1.300% 12/05/25 0 0.00267,198 Thermo Fisher Scientific EUR 0.750% 12/09/24 256,691 0.23303,938 US Bancorp EUR 0.850% 07/06/24 301,308 0.2799,531 Verizon Communications EUR 0.500% 02/06/22 98,019 0.09

146,959 VF EUR 0.625% 20/09/23 144,348 0.13280,558 Wells Fargo & Co EUR 2.625% 16/08/22 308,315 0.28286,904 Wells Fargo & Co EUR 1.500% 12/09/22 298,504 0.2782,832 Wells Fargo & Co EUR 2.250% 02/05/23 89,538 0.08

567,797 ZF North America Capital EUR 2.750% 27/04/23 611,034 0.55


INVESTMENTS 110,289,577 98.57


327



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(124) Bundesrepublik Deutschland Future BOBL 09/17 EUR (16,305,984) 168,483 0.15

24 Bundesrepublik Deutschland Future BUND 09/17 EUR 3,952,824 (70,404) (0.06)(1) Bundesrepublik Deutschland Future BUXL 09/17 EUR (163,520) 3,949 0.00

(24) Bundesrepublik Deutschland Future SCHATZ 09/17 EUR (2,719,081) 6,633 0.01





* The counterparties for the future contracts are Merrill Lynch Pierce Fenner & Smith and Newedge.


328


AAMMF Comfort Invest II 30-06-2017




Currency Market

Value

% of

Net

Assets


2 Allianz Securicash SRI EUR 255,956 5.0275 Natixis Asset Management Natixis

Tresorerie EUR 915,707 17.95

1,171,663 22.97Germany

460 DWS Top Dividende EUR 61,125 1.20

61,125 1.20Ireland


10,290 iShares EUR Corp Bond Interest RateHedged UCITS ETF EUR Dist – H – EUR 1,004,870 19.70

2,360 iShares France Govt Bond UCITS ETFEUR Dist EUR 346,472 6.80

705 iShares Italy Government Bond UCITSETF EUR 109,374 2.15

1,550 iShares Spain Government Bond UCITSETF EUR 249,488 4.89

1,060 iShares USD High Yield Bond UCITSETF EUR 97,541 1.91



216 Amundi Index Solutions - Amundi IndexMSCI Pacific ex Japan EUR 21,427 0.42

3,720 Amundi Index Solutions- Amundi IndexMSCI Europe EUR 438,142 8.59

37 Kempen International Fund - Global HighDividend Fund EUR 58,737 1.15

1,500 Robeco Emerging Conservative Equities –IE – EUR 138,660 2.72

1,410 Robeco Lux-O-Rente SICAV – IE – EUR 173,980 3.41


72,800 Northern Trust - Developed Real EstateIndex UCITS FGR Fund EUR 698,465 13.69

17,900 Northern Trust - North America EquityIndex UCITS FGR Fund EUR 195,457 3.83

843 Robeco Umbrella Fund I - GlobalConservative Equities Fund EUR 96,203 1.89


34,930 Threadneedle Specialist Investment FundsICVC - Global Equity Income Fund EUR 59,695 1.17






329


AAMMF Comfort Invest III 30-06-2017




Currency Market

Value

% of

Net

Assets


432 Natixis Asset Management NatixisTresorerie EUR 5,274,470 16.13

5,274,470 16.13Germany

5,515 DWS Top Dividende EUR 732,833 2.24

732,833 2.24Ireland


3,800 iShares EUR Corp Bond Interest RateHedged UCITS ETF EUR Dist – H –(traded in Netherlands) EUR 371,108 1.13

44,840 iShares EUR Corp Bond Interest RateHedged UCITS ETF EUR Dist – H –(traded in United Kingdom) EUR 4,378,850 13.39

10,980 iShares France Govt Bond UCITS ETFEUR Dist EUR 1,611,974 4.93

3,210 iShares Italy Government Bond UCITSETF EUR 497,999 1.52

7,260 iShares Spain Government Bond UCITSETF EUR 1,168,570 3.57




2,280 Amundi Index Solutions - Amundi IndexMSCI Pacific ex Japan EUR 226,176 0.69

43,670 Amundi Index Solutions- Amundi IndexMSCI Europe EUR 5,143,452 15.73

440 Kempen International Fund - Global HighDividend Fund EUR 698,496 2.14

17,495 Robeco Emerging Conservative Equities– IE – EUR 1,617,238 4.95


8,915,625 27.27Netherlands449,400 Northern Trust - Developed Real Estate

Index UCITS FGR Fund EUR 4,311,678 13.19211,320 Northern Trust - North America Equity

Index UCITS FGR Fund EUR 2,307,488 7.069,128 Robeco Umbrella Fund I - Global

Conservative Equities Fund EUR 1,041,687 3.18

7,660,853 23.43United Kingdom408,172 Threadneedle Specialist Investment

Funds ICVC - Global Equity IncomeFund EUR 697,565 2.13


INVESTMENTS 32,422,518 99.15




330


AAMMF Comfort Invest IV 30-06-2017




Currency Market

Value

% of

Net

Assets


21,900 Lyxor UCITS ETF MSCI Europe EUR 2,826,852 5.85403 Natixis Asset Management Natixis

Tresorerie EUR 4,920,396 10.18

7,747,248 16.03Germany

11,930 DWS Top Dividende EUR 1,585,258 3.28

1,585,258 3.28Ireland


3,400 iShares EUR Corp Bond Interest RateHedged UCITS ETF EUR Dist – H –(traded in Netherlands) EUR 332,044 0.69

33,940 iShares EUR Corp Bond Interest RateHedged UCITS ETF EUR Dist – H –(traded in United Kingdom) EUR 3,314,411 6.86

8,350 iShares France Govt Bond UCITS ETFEUR Dist EUR 1,225,863 2.54

2,435 iShares Italy Government Bond UCITSETF EUR 377,766 0.78

5,510 iShares Spain Government Bond UCITSETF EUR 886,890 1.83




5,350 Amundi Index Solutions - Amundi IndexMSCI Pacific ex Japan EUR 530,720 1.10

73,050 Amundi Index Solutions- Amundi IndexMSCI Europe EUR 8,603,829 17.80

965 Kempen International Fund - Global HighDividend Fund EUR 1,531,928 3.17

38,910 Robeco Emerging Conservative Equities– IE – EUR 3,596,840 7.44


15,829,170 32.75Netherlands645,200 Northern Trust - Developed Real Estate

Index UCITS FGR Fund EUR 6,190,242 12.81469,740 Northern Trust - North America Equity

Index UCITS FGR Fund EUR 5,129,279 10.6120,945 Robeco Umbrella Fund I - Global

Conservative Equities Fund EUR 2,390,244 4.95

13,709,765 28.37United Kingdom911,476 Threadneedle Specialist Investment

Funds ICVC - Global Equity IncomeFund EUR 1,557,713 3.23


INVESTMENTS 47,867,240 99.05




331


AAMMF Blackrock Euro GovernmentBonds 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Austria1,001,095 Austria Government

Bond EUR 4.350% 15/03/19 1,084,140 0.87336,361 Austria Government

Bond EUR 1.950% 18/06/19 352,400 0.28247,646 Austria Government

Bond (traded in Austria) EUR 3.900% 15/07/20 279,801 0.22110,158 Austria Government

Bond (traded inGermany) EUR 3.900% 15/07/20 124,461 0.10

90,397 Austria GovernmentBond (traded inUnited States) EUR 3.900% 15/07/20 102,134 0.08

386,395 Austria GovernmentBond (traded in Austria) EUR 3.500% 15/09/21 446,968 0.36




2,791,788 2.23Belgium











4,323,395 3.45Cyprus


129,379 0.10Finland

101,329 Finland GovernmentBond (traded in Finland) EUR 4.375% 04/07/19 111,388 0.09


71,897 Finland GovernmentBond (traded in Finland) EUR 3.375% 15/04/20 79,573 0.06



421 Finland GovernmentBond EUR 0.500% 15/04/26 421 0.00


594,731 0.48





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %France1,072,151 Caisse Centrale du

Credit Immobilier deFrance EUR 0.250% 25/11/18 1,080,608 0.86

357,384 Caisse Centrale duCredit Immobilier deFrance (traded in France) EUR 0.375% 31/07/20 362,281 0.29

84,090 Caisse Centrale duCredit Immobilier deFrance (traded inLuxembourg) EUR 0.375% 31/07/20 85,243 0.07

504,542 Dexia Credit Local EUR 0.750% 25/01/23 513,836 0.411,316,475 France Government


Bond OAT EUR 4.250% 25/10/18 1,856,320 1.48606,149 France Government

Bond OAT EUR 1.000% 25/11/18 619,245 0.49723,160 France Government



Bond OAT (traded inFrance) EUR 0.500% 25/11/19 77,612 0.06






756,813 France GovernmentBond OAT (traded inFrance) EUR 0.000% 25/05/21 763,563 0.61









211 France GovernmentBond OAT EUR 1.750% 25/11/24 232 0.00




31,571,244 25.16Germany

546,587 Bundesobligation EUR 0.000% 08/04/22 552,455 0.44625,422 Bundesrepublik


Deutschland EUR 3.250% 04/07/21 113,964 0.09


332





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets












1,465,273 Bundesschatzanweisungen EUR 0.000% 14/06/19 1,481,817 1.180 FMS Wertmanagement

AoeR EUR 0.000% 20/10/20 0 0.001,210,900 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 30/06/21 1,220,791 0.97706,358 Kreditanstalt fuer

Wiederaufbau EUR 0.000% 28/04/22 709,042 0.57175,539 State of North

Rhine-WestphaliaGermany EUR 1.550% 16/06/48 169,091 0.13

18,735,406 14.93Iceland

131,181 Iceland GovernmentInternational Bond EUR 2.500% 15/07/20 140,680 0.11

140,680 0.11Ireland2,176,946 Ireland Government

Bond EUR 4.500% 18/04/20 2,469,353 1.972,340,217 Ireland Government


Bond EUR 1.000% 15/05/26 1,238,361 0.981 Ireland Government

Bond EUR 2.400% 15/05/30 1 0.001,329,677 Ireland Government

Bond EUR 1.700% 15/05/37 1,329,563 1.06













Del Tesoro EUR 4.750% 01/09/21 1,231,799 0.98





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets




614,700 Italy Buoni PoliennaliDel Tesoro (traded inGermany) EUR 5.500% 01/09/22 754,735 0.60

161,453 Italy Buoni PoliennaliDel Tesoro (traded inItaly) EUR 5.500% 01/09/22 198,234 0.16

1,038,725 Italy Buoni PoliennaliDel Tesoro (traded inItaly) EUR 4.500% 01/05/23 1,231,555 0.98

217,584 Italy Buoni PoliennaliDel Tesoro (traded inSwitzerland) EUR 4.500% 01/05/23 257,976 0.21







1,057,225 Italy Buoni PoliennaliDel Tesoro EUR 1.650% 01/03/32 943,394 0.75


28,693,547 22.87Luxembourg1,601,920 European Financial

Stability Facility EUR 0.750% 03/05/27 1,593,478 1.27528,507 European Financial

Stability Facility EUR 1.250% 24/05/33 519,448 0.41

2,112,926 1.68Netherlands1,297,093 Netherlands Government

Bond EUR 0.000% 15/01/22 1,308,259 1.04113 Netherlands Government


Bond (traded inGermany) EUR 1.750% 15/07/23 453,659 0.36

86,193 Netherlands GovernmentBond (traded inNetherlands) EUR 1.750% 15/07/23 95,144 0.08



2,325,294 1.85Portugal





1,117,245 0.89Spain


14,506 Spain Government Bond(traded in Germany) EUR 5.500% 30/07/17 14,568 0.01


333





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets


3,153 Spain Government Bond(traded in Spain) EUR 5.500% 30/07/17 3,167 0.00

278,129 Spain Government Bond EUR 4.100% 30/07/18 291,409 0.231,415,660 Spain Government Bond EUR 4.600% 30/07/19 1,557,888 1.243,678,319 Spain Government Bond EUR 1.400% 31/01/20 3,833,559 3.051,748,868 Spain Government Bond EUR 1.150% 30/07/20 1,817,990 1.45



1,240,332 Spain Government Bond EUR 3.800% 30/04/24 1,479,489 1.18508,956 Spain Government Bond EUR 1.950% 30/04/26 535,405 0.43394,173 Spain Government Bond EUR 1.300% 31/10/26 390,799 0.31497,184 Spain Government Bond EUR 1.500% 30/04/27 496,177 0.40880,215 Spain Government Bond EUR 1.450% 31/10/27 866,304 0.69

1,853,980 Spain Government Bond EUR 2.350% 30/07/33 1,880,162 1.50263,623 Spain Government Bond EUR 2.900% 31/10/46 266,895 0.2155,289 Spain Government Bond EUR 3.450% 30/07/66 58,681 0.05

1,232,916 Spain GovernmentInflation Linked Bond EUR 0.550% 30/11/19 1,276,972 1.02

150,731 Spain GovernmentInflation Linked Bond EUR 0.650% 30/11/27 152,038 0.12

18,395,592 14.66





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Supranational

420 European InvestmentBank EUR 0.250% 14/10/24 421 0.00

192,357 European InvestmentBank EUR 0.375% 14/04/26 189,900 0.15



INVESTMENTS 119,071,882 94.89


AAMMF Blackrock Euro Government Bonds 30-06-2017

DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets51 Bundesrepublik Deutschland Future BOBL 09/17 EUR 6,672,501 (56,437) (0.05)(3) Bundesrepublik Deutschland Future BUND 09/17 EUR (442,380) 7,877 0.00

(18) Bundesrepublik Deutschland Future BUXL 09/17 EUR (3,025,097) 71,283 0.0673 Bundesrepublik Deutschland Future SCHATZ 09/17 EUR 8,206,297 (13,690) (0.01)

(27) Euro-OAT Future 09/17 EUR (3,964,218) 36,391 0.03(59) Short Euro-BTP Future 09/17 EUR (6,703,770) (17,018) (0.01)





* The counterparties for the future contracts are Merrill Lynch Pierce Fenner & Smith and Newedge.


334


AAMMF Natixis Euro Government Bonds 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Austria



1,284,082 0.71Belgium2,047,681 Belgium Government

Bond EUR 0.200% 22/10/23 2,052,190 1.142,398,713 Belgium Government

Bond EUR 1.000% 22/06/26 2,476,323 1.37

4,528,513 2.51Finland


174,244 0.10France

760,567 Agence Francaise deDeveloppement EUR 2.125% 15/02/21 820,332 0.45







42,280,111 23.38Germany12,754,129 Bundesobligation EUR 0.000% 08/10/21 12,919,716 7.152,925,259 Bundesrepublik






Deutschland EUR 0.250% 15/02/27 515,704 0.28

38,149,300 21.10Ireland1,287,114 Ireland Government


Bond EUR 5.000% 18/10/20 3,159,565 1.75877,578 Ireland Government

Bond EUR 5.400% 13/03/25 1,191,594 0.66






Del Tesoro EUR 4.500% 01/03/26 9,602,549 5.31

49,544,009 27.40Netherlands1,170,103 Netherlands

Government Bond EUR 0.250% 15/01/20 1,193,158 0.66





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Netherlands (continued)1,521,135 Netherlands

Government Bond EUR 1.750% 15/07/23 1,679,117 0.93994,588 Netherlands

Government Bond EUR 0.250% 15/07/25 986,823 0.54

3,859,098 2.13Portugal2,925,259 Portugal Obrigacoes do

Tesouro OT EUR 4.750% 14/06/19 3,191,545 1.77

3,191,545 1.77Spain

0 Spain GovernmentBond EUR 4.300% 31/10/19 0 0.00








INVESTMENTS 178,597,559 98.78


335



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets(71) Bundesrepublik Deutschland Future BUND 09/17 EUR (11,553,685) 179,073 0.10





* The counterparty for the future contracts is Merrill Lynch Pierce Fenner & Smith.


336


AAMMF Insight Euro Government Bonds 30-06-2017



market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Austria

0 Austria GovernmentBond EUR 0.000% 15/07/23 0 0.00

0 0.00Belgium



0 Belgium GovernmentBond EUR 2.250% 22/06/57 0 0.00

4,478,988 3.17France1,511,318 Dexia Credit Local EUR 0.000% 05/06/20 1,518,375 1.07

785,885 Dexia Credit Local EUR 0.250% 02/06/22 784,387 0.561,547,589 France Government


Bond OAT EUR 0.000% 25/05/21 1,787,064 1.270 France Government

Bond OAT EUR 3.250% 25/10/21 0 0.00701,251 France Government

Bond OAT EUR 0.000% 25/05/22 702,702 0.500 France Government

Bond OAT EUR 4.250% 25/10/23 0 0.004,068,467 France Government



Bond OAT EUR 0.250% 25/11/26 2,985,505 2.11930,972 France Government

Bond OAT EUR 2.000% 25/05/48 963,403 0.68

19,514,004 13.82Germany2,418,108 Bundesobligation EUR 0.000% 08/04/22 2,444,071 1.73

0 BundesrepublikDeutschland EUR 1.750% 04/07/22 0 0.00





1,511,317 FMS WertmanagementAoeR EUR 0.375% 29/04/30 1,388,902 0.98










Del Tesoro EUR 2.350% 15/09/24 4,841,246 3.430 Italy Buoni Poliennali

Del Tesoro EUR 2.000% 01/12/25 0 0.003,130,792 Italy Buoni Poliennali

Del Tesoro EUR 3.100% 15/09/26 3,696,695 2.62





market instruments

admitted to an


listing


Date

Market

Value

% of

Net

Assets

BONDS EUR %Italy (continued)3,566,709 Italy Certificati di

Credito del Tesoro EUR 0.758% 15/04/18 3,596,274 2.5513,601,858 Italy Certificati di

Credito del Tesoro EUR 1.552% 01/11/18 13,931,091 9.86846,338 Veneto Banca EUR 0.500% 02/02/20 848,035 0.60

73,497,297 52.04Netherlands2,841,277 Netherlands Government

Bond EUR 1.750% 15/07/23 3,136,366 2.22

3,136,366 2.22Slovakia

453,395 Slovakia GovernmentBond EUR 1.625% 21/01/31 467,088 0.33

467,088 0.33Spain

0 Spain Government Bond EUR 1.400% 31/01/20 0 0.00223,675 Spain Government Bond EUR 4.000% 30/04/20 249,901 0.18

2,916,238 Spain Government Bond EUR 5.400% 31/01/23 3,704,171 2.62797,976 Spain Government Bond EUR 2.750% 31/10/24 896,446 0.63

3,382,933 Spain Government Bond EUR 1.450% 31/10/27 3,329,469 2.36151,132 Spain Government Bond EUR 1.950% 30/07/30 151,597 0.11

1,100,239 Spain Government Bond EUR 4.700% 30/07/41 1,505,562 1.06985,514 Spain Government

Inflation Linked Bond EUR 1.800% 30/11/24 1,113,702 0.792,024,987 Spain Government

Inflation Linked Bond EUR 0.650% 30/11/27 2,042,546 1.45


0 European Union EUR 0.625% 04/11/23 0 0.00

0 0.00


337






Currency Market

Value

% of

Net

Assets

OPEN ENDED FUNDS EUR %Ireland9,931,617 Insight Liquidity Funds – EUR Cash

Fund EUR 9,879,675 6.99


INVESTMENTS 145,537,410 103.04



DERIVATIVES

FUTURES CONTRACTS*

Number ofcontracts


Commitmentin Fund

Currency


in FundCurrency

% ofNet

Assets180 Bundesrepublik Deutschland Future BOBL 09/17 EUR 23,725,630 (142,760) (0.10)(78) Bundesrepublik Deutschland Future BUND 09/17 EUR (12,623,268) 200,679 0.14(15) Bundesrepublik Deutschland Future BUXL 09/17 EUR (2,471,306) 67,129 0.05148 Bundesrepublik Deutschland Future SCHATZ 09/17 EUR 16,498,388 (42,776) (0.03)(77) Euro-BTP Future 09/17 EUR (10,375,364) (85,600) (0.06)52 Euro-OAT Future 09/17 EUR 7,719,375 (62,393) (0.05)



OTHER ASSETS LESS LIABILITIES (4,228,306) (3.04)


* The counterparties for the future contracts are Goldman Sachs International, Merrill Lynch Pierce Fenner & Smith and Newedge.


338


AAMMF European Equities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Austria

868 ams CHF 49,470 1.991,974 BUWOG EUR 49,656 2.001,547 Erste Group Bank EUR 51,863 2.091,069 OMV EUR 48,570 1.962,291 Raiffeisen Bank International EUR 50,631 2.04

250,190 10.08Belgium

693 KBC Group EUR 46,022 1.85

46,022 1.85Finland

952 Kesko – B – EUR 42,402 1.711,275 Neste EUR 43,975 1.77

870 Orion – B – EUR 48,633 1.967,482 Outokumpu EUR 52,299 2.111,917 UPM-Kymmene EUR 47,848 1.93

235,157 9.48France

402 Atos EUR 49,406 1.992,507 CNP Assurances EUR 49,275 1.992,045 Eutelsat Communications EUR 45,726 1.84

79 Hermes International EUR 34,179 1.38416 Ipsen EUR 49,858 2.01169 Kering EUR 50,396 2.03487 Rubis EUR 48,330 1.95315 SEB EUR 49,534 2.00286 Societe Generale EUR 13,473 0.54432 Teleperformance EUR 48,449 1.95

438,626 17.68Germany

251 adidas EUR 42,105 1.70666 Covestro EUR 42,098 1.70

2,692 Deutsche Lufthansa EUR 53,638 2.16651 Fraport Frankfurt Airport Services

Worldwide EUR 50,323 2.03298 HOCHTIEF EUR 47,799 1.92

235,963 9.51Italy

631 Ferrari EUR 47,420 1.915,538 Mediobanca EUR 47,848 1.931,394 Recordati EUR 49,515 2.00

144,783 5.84Jersey

26,460 Centamin GBP 46,649 1.88


10,391 PostNL EUR 42,468 1.71

42,468 1.71Norway

8,325 Storebrand NOK 50,190 2.02

50,190 2.02Russia

1,723 Polymetal International GBP 16,895 0.68

16,895 0.68Spain

276 Aena EUR 47,155 1.905,692 Bankinter EUR 45,906 1.85

12,278 CaixaBank EUR 51,322 2.072,308 Endesa EUR 46,552 1.88


602 Coca-Cola GBP 15,481 0.6281 EMS-Chemie Holding CHF 52,430 2.11

233 Flughafen Zurich CHF 50,216 2.031,553 Logitech International CHF 50,120 2.02

8 Sika CHF 45,118 1.823,401 STMicroelectronics EUR 42,784 1.73

102 Sunrise Communications Group CHF 7,037 0.28612 Temenos Group CHF 47,963 1.93


6,506 BBA Aviation GBP 22,777 0.927,316 Electrocomponents GBP 48,076 1.94

13,634 G4S GBP 50,682 2.04


AAMMF European Equities 30-06-2017




Currency Market

Value

% of

Net

Assets


5,965 HSBC Holdings GBP 48,349 1.9512,901 Indivior GBP 45,944 1.8517,815 Melrose Industries GBP 49,201 1.99

1,556 Micro Focus International GBP 40,244 1.626,704 NEX Group GBP 47,681 1.924,266 Subsea 7 NOK 50,144 2.025,561 Tate & Lyle GBP 41,926 1.69






339


AAMMF Edentree European SustainableEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES EUR %Belgium

14,000 Solvay EUR 1,645,000 1.88

1,645,000 1.88Finland

130,000 Kemira EUR 1,437,800 1.65

1,437,800 1.65France

85,000 Carrefour EUR 1,882,750 2.1540,000 Cie de Saint-Gobain EUR 1,871,200 2.1417,000 Cie Generale des Etablissements

Michelin EUR 1,978,800 2.2621,000 Eurazeo EUR 1,379,490 1.5818,000 Fonciere Des Regions EUR 1,461,960 1.6725,000 Imerys EUR 1,903,750 2.1827,000 Publicis Groupe EUR 1,763,370 2.02

100,000 Rexel EUR 1,432,500 1.6420,000 Sanofi EUR 1,675,200 1.92

108,387 Suez EUR 1,757,495 2.0174,000 Veolia Environnement EUR 1,369,000 1.5785,000 Vivendi EUR 1,656,650 1.90

20,132,165 23.04Germany

160,000 Commerzbank EUR 1,668,800 1.9160,000 Deutsche Post EUR 1,969,200 2.25

105,000 Deutsche Telekom EUR 1,650,600 1.8932,000 Hella Hueck & Co EUR 1,379,040 1.5820,000 HUGO BOSS EUR 1,226,000 1.4040,000 Infineon Technologies EUR 739,400 0.8550,000 Innogy EUR 1,723,250 1.97

1,500 Krones EUR 152,100 0.1812,000 Merck EUR 1,269,000 1.4560,000 METRO EUR 1,773,300 2.0328,000 Talanx EUR 915,600 1.05

14,466,290 16.56Ireland

80,000 Smurfit Kappa Group EUR 2,180,400 2.50

2,180,400 2.50Italy

350,000 Enav EUR 1,318,800 1.5160,000 Prysmian EUR 1,545,000 1.77


26,000 Akzo Nobel EUR 1,978,340 2.27135,000 ING Groep EUR 2,038,500 2.33

40,000 Koninklijke Philips EUR 1,243,800 1.4230,000 Wolters Kluwer EUR 1,111,950 1.27

6,372,590 7.29Norway

40,000 Yara International NOK 1,312,960 1.50

1,312,960 1.50Spain

330,000 Banco Santander EUR 1,911,360 2.19200,000 Telefonica EUR 1,807,600 2.07

3,718,960 4.26Sweden

14,000 Autoliv – SDR – SEK 1,344,695 1.5442,000 Essity – B – SEK 1,006,338 1.1542,000 Svenska Cellulosa – B – SEK 278,326 0.32

200,000 Telefonaktiebolaget LM Ericsson – B – SEK 1,252,595 1.43


30,000 Aryzta CHF 866,012 0.9930,000 Novartis CHF 2,191,811 2.51

6,000 Roche Holding CHF 1,341,454 1.54


550,000 BT Group GBP 1,846,267 2.11300,000 Carillion GBP 638,228 0.73

75,000 Close Brothers Group GBP 1,288,927 1.47120,000 GlaxoSmithKline GBP 2,235,166 2.56

46,000 Johnson Matthey GBP 1,504,073 1.72600,000 Legal & General Group GBP 1,765,036 2.02

2,500,000 Lloyds Banking Group GBP 1,883,422 2.16200,000 Marks & Spencer Group GBP 759,177 0.87


AAMMF Edentree European SustainableEquities 30-06-2017




Currency Market

Value

% of

Net

Assets


130,000 Pearson GBP 1,023,796 1.1750,000 RELX EUR 900,000 1.03

100,000 Sage Group GBP 783,549 0.90120,000 Smith & Nephew GBP 1,810,819 2.07160,000 UBM GBP 1,257,323 1.44800,000 Vodafone Group GBP 1,983,929 2.27

85,000 WPP GBP 1,562,429 1.79

21,242,141 24.31

OPEN ENDED FUNDSUnited Kingdom

324,975 Greencoat UK Wind GBP 448,570 0.51


INVESTMENTS 84,101,907 96.26




340


AAMMF Parnassus US SustainableEquities 30-06-2017




Currency Market

Value

% of

Net

Assets

SHARES USD %Canada

21,412 Thomson Reuters USD 991,161 1.87


16,650 Novartis – ADR – USD 1,389,776 2.63


23,651 Pentair USD 1,573,738 2.98


7,635 Allergan USD 1,855,992 3.511,058 Alphabet – A – USD 983,601 1.861,744 Alphabet – C – USD 1,584,825 3.00

10,707 Apple USD 1,542,022 2.9229,918 Charles Schwab USD 1,285,277 2.4311,451 Clorox USD 1,525,731 2.89

7,481 Compass Minerals International USD 488,509 0.9221,582 CVS Health USD 1,736,488 3.2830,330 Danaher USD 2,559,549 4.8435,427 Gilead Sciences USD 2,507,523 4.7463,065 Intel USD 2,127,813 4.0230,933 Iron Mountain USD 1,062,858 2.01

8,350 KLA-Tencor USD 764,109 1.459,990 Mastercard – A – USD 1,213,285 2.295,803 McCormick & Co USD 565,851 1.078,671 McKesson USD 1,426,726 2.70

38,042 MDU Resources Group USD 996,700 1.8833,374 Mondelez International – A – USD 1,441,423 2.7312,319 Motorola Solutions USD 1,068,550 2.0214,918 National Oilwell Varco USD 491,399 0.9319,177 Pattersons Cos USD 900,360 1.7015,246 PayPal Holdings USD 818,253 1.55

7,190 PPG Industries USD 790,612 1.5016,593 Praxair USD 2,199,402 4.1611,527 Procter & Gamble USD 1,004,578 1.90

4,739 Public Storage USD 988,224 1.879,028 Sempra Energy USD 1,017,907 1.92

17,422 Sysco USD 876,849 1.6614,225 United Parcel Service – B – USD 1,573,143 2.9716,115 Verisk Analytics USD 1,359,623 2.5728,968 VF USD 1,668,557 3.1618,223 Walt Disney USD 1,936,194 3.6615,922 Waste Management USD 1,167,879 2.21

4,097 WD-40 USD 452,104 0.8534,744 Wells Fargo & Co USD 1,925,165 3.6414,306 Xylem USD 792,982 1.50


INVESTMENTS 50,654,738 95.79




341

Notes

AAMMF Fund ofMandates

Asia-PacificEquities

USD

AAMMF Fund ofMandates Euro

GovernmentBonds

EUR

AAMMF Fund ofMandatesEuropean

EquitiesEUR

AAMMF Fund ofMandates North

AmericanEquities

USD

AAMMF Fund ofMandatesEmerging

Market EquitiesUSD


CorporateBonds

EURAssets

Investments 3 557,517,394 365,638,879 797,478,053 539,717,516 228,851,963 625,158,250

Receivable for investments sold 3,129,672 5,434,060 1,716,752 5,856,683 1,594,621 5,993,634

Receivable for shares subscribed 598,577 219,747 213,964 723,772 12,678 26,049

Dividend receivable 1,370,973 0 3,098,553 509,220 885,241 0

Retrocession rebates 3 0 0 0 0 0 0

Net unrealised gain on futures contracts 3 5,713 118,309 0 0 0 3,616,158

Net unrealised gain on forward foreign exchangecontracts 3 0 0 0 0 0 911,350

Net unrealised gain on contracts for difference 3 0 0 0 0 0 0

Accrued interest on bonds 0 2,828,538 0 0 0 5,750,863

Other receivables 0 0 0 2,078 0 0

Cash at banks 7,057,658 9,175,360 18,154,566 13,392,284 9,658,157 6,800,626

Cash at broker 1,351 803,174 11,740 0 299,068 3,062,503

Total assets 569,681,338 384,218,067 820,673,628 560,201,553 241,301,728 651,319,433

Liabilities

Bank overdraft 37,340 0 111,181 0 7,535 0

Overdraft at broker 0 0 6 0 0 425,545

Payable for investments purchased 3,583,811 8,741,992 3,043,994 1,688,174 1,399,192 9,409,930

Payable for shares redeemed 384,517 261,374 1,333,583 2,165,881 102,043 141,130

Performance Fee 6 0 0 0 0 0 0

Accrued expenses and other payables 644,532 173,573 697,922 549,245 295,520 289,748

Net unrealised loss on futures contracts 3 0 0 3,395 0 37,445 0

Net unrealised loss on forward foreign exchangecontracts 3 0 0 0 0 0 0

Total liabilities 4,650,200 9,176,939 5,190,081 4,403,300 1,841,735 10,266,353

TOTAL NET ASSETS 565,031,138 375,041,128 815,483,547 555,798,253 239,459,993 641,053,080

Notes


Flexible BondsUSD

AAMMF PensionLifecycle 2015

EUR


EUR


EUR


EUR


EURAssets

Investments 3 227,356,038 1,824,648 9,278,131 16,121,099 17,860,772 14,112,724

Receivable for investments sold 1,807,186 0 10,425 138,767 154,640 239,671

Receivable for shares subscribed 109,361 1,823 25,697 90,431 97,254 94,422

Dividend receivable 0 0 5,058 15,676 26,414 22,719


Net unrealised gain on futures contracts 3 364,483 0 0 0 0 0

Net unrealised gain on forward foreign exchangecontracts 3 0 0 0 0 0 0


Accrued interest on bonds 3,702,172 0 0 0 0 0

Other receivables 0 0 0 0 0 0

Cash at banks 23,979,152 14,771 12,018 30,268 77,562 100,808

Cash at broker 1,445,033 0 4,208 15,205 26,518 22,976

Total assets 258,763,425 1,841,242 9,335,537 16,411,446 18,243,381 14,593,320

Liabilities

Bank overdraft 0 0 36,212 100,923 108,967 190,440

Overdraft at broker 0 3 0 0 0 0

Payable for investments purchased 7,023,529 0 264 42,368 80,664 90,197

Payable for shares redeemed 108,261 0 0 0 0 0


Accrued expenses and other payables 205,391 507 3,138 7,312 9,022 9,382

Net unrealised loss on futures contracts 3 0 0 90 388 750 652

Net unrealised loss on forward foreign exchangecontracts 3 86,738 0 0 0 0 0

Total liabilities 7,423,919 510 39,704 150,991 199,403 290,671

TOTAL NET ASSETS 251,339,506 1,840,732 9,295,833 16,260,455 18,043,978 14,302,649

STATEMENT OF NET ASSETS 30-06-2017


342

Notes


EUR


EUR


EUR


EURAAMMF Profile 1

EURAAMMF Profile 2

EURAssets

Investments 3 7,937,546 4,057,526 6,494,665 106,063 46,303,766 362,802,472

Receivable for investments sold 176,518 88,312 72,998 77 220,768 1,590,140

Receivable for shares subscribed 77,143 26,540 5,397 0 0 93,603

Dividend receivable 12,770 6,518 10,452 171 0 379,934


Net unrealised gain on futures contracts 3 0 0 0 0 50,213 275,658

Net unrealised gain on forward foreign exchangecontracts 3 0 0 0 0 6,096 35,955


Accrued interest on bonds 0 0 0 0 171,750 1,002,459


Cash at banks 60,410 21,109 36,198 564 878,447 6,168,213

Cash at broker 12,928 6,596 10,561 172 38,126 326,422

Total assets 8,277,315 4,206,601 6,630,273 107,047 47,669,190 372,674,856

Liabilities

Bank overdraft 148,111 77,748 58,804 383 0 0

Overdraft at broker 0 0 0 0 12,948 76,365

Payable for investments purchased 61,871 28,453 19,024 132 453,146 3,051,473

Payable for shares redeemed 0 0 0 0 311,309 950,882


Accrued expenses and other payables 6,738 3,960 4,212 20 24,795 213,289



Total liabilities 217,087 110,348 82,340 540 802,198 4,292,009

TOTAL NET ASSETS 8,060,228 4,096,253 6,547,933 106,507 46,866,992 368,382,847

NotesAAMMF Profile 3

EURAAMMF Profile 4

EURAAMMF Profile 5

EURAAMMF Profile 6

EUR

AAMMFVerzekeringen

BeleggingsfondsZeer Defensief*

EUR

AAMMFVerzekeringen

BeleggingsfondsDefensief*

EURAssets

Investments 3 1,171,891,113 1,190,774,641 321,380,234 176,445,245 8,348,512 32,868,177

Receivable for investments sold 6,131,676 5,545,324 1,270,064 628,034 0 7,388

Receivable for shares subscribed 3,147 148,301 2,597 192,738 1,592 0

Dividend receivable 2,063,722 2,831,276 950,485 564,878 0 22,290


Net unrealised gain on futures contracts 3 955,715 617,335 67,358 0 3,678 10,212

Net unrealised gain on forward foreign exchangecontracts 3 120,353 89,831 10,140 0 0 0


Accrued interest on bonds 3,492,031 2,405,057 285,782 0 22,107 64,598


Cash at banks 26,010,678 29,796,377 8,319,248 4,452,646 17,477 400,097

Cash at broker 1,260,176 1,075,107 225,895 51,180 1,851 25,623

Total assets 1,211,928,611 1,233,283,249 332,511,803 182,334,721 8,395,217 33,398,385

Liabilities

Bank overdraft 52,825 83,054 29,256 21,444 0 0

Overdraft at broker 255,619 190,795 21,537 1 0 0

Payable for investments purchased 11,084,202 9,171,147 1,748,470 694,003 0 2,388

Payable for shares redeemed 752,319 602,993 184,035 17,821 0 128,831



Net unrealised loss on futures contracts 3 0 0 0 5,755 0 0


Total liabilities 13,019,583 11,009,930 2,254,702 936,310 6,604 157,491

TOTAL NET ASSETS 1,198,909,028 1,222,273,319 330,257,101 181,398,411 8,388,613 33,240,894

*Refer to Note 1



343

Notes

AAMMFVerzekeringen

BeleggingsfondsMatig Defensief*

EUR

AAMMFVerzekeringen

BeleggingsfondsMatig Offensief*

EUR

AAMMFVerzekeringen

BeleggingsfondsOffensief*

EUR

AAMMFVerzekeringen

BeleggingsfondsZeer Offensief*

EUR

AAMMF GlobalProperty Index

EUR

AAMMF GlobalSustainable

EquitiesEUR

Assets

Investments 3 252,357,889 417,481,230 208,306,093 181,305,851 83,444 188,813,563

Receivable for investments sold 104,538 259,964 168,922 1,389,094 0 0

Receivable for shares subscribed 0 0 0 0 0 117,302

Dividend receivable 302,369 657,568 398,706 338,478 296 411,501


Net unrealised gain on futures contracts 3 81,674 81,108 10,574 0 0 0



Accrued interest on bonds 535,718 592,608 129,861 0 0 0


Cash at banks 438,554 1,310,971 430,953 376,919 279 1,125,267

Cash at broker 327,128 690,733 406,817 367,495 206 0

Total assets 254,147,897 421,075,063 209,852,284 183,778,046 84,225 190,467,633

Liabilities

Bank overdraft 0 0 0 83,051 0 357,957


Payable for investments purchased 33,793 84,037 54,606 61,127 0 893,404

Payable for shares redeemed 177,067 412,940 219,116 489,315 0 17,792



Net unrealised loss on futures contracts 3 0 0 0 11,106 3 0


Total liabilities 419,970 846,619 446,845 796,349 1,102 1,361,177

TOTAL NET ASSETS 253,727,927 420,228,444 209,405,439 182,981,697 83,123 189,106,456

*Refer to Note 1

Notes

AAMMF AlgerUS Equities

USD

AAMMFAristotle US

EquitiesUSD

AAMMFEdinburgh

PartnersEuropean

EquitiesEUR

AAMMF HermesEuropean

EquitiesEUR

AAMMF PzenaEuropean

EquitiesEUR

AAMMF TCWUS Equities

USDAssets

Investments 3 180,304,047 981,806,897 451,788,935 323,073,556 1,026,961,996 142,151,558

Receivable for investments sold 2,178,337 577,663 159,583 746,358 208,806 1,245,043

Receivable for shares subscribed 164,540 3,771,537 31,143 38,803 640,943 0

Dividend receivable 73,804 991,402 1,291,475 1,269,980 4,190,662 188,093


Net unrealised gain on futures contracts 3 0 0 0 0 0 0

Net unrealised gain on forward foreign exchangecontracts 3 0 25,027 0 0 0 0


Accrued interest on bonds 0 0 0 0 0 0


Cash at banks 6,911,245 39,010,095 1,817,805 255,616 32,976,172 2,295,698

Cash at broker 0 0 0 0 0 0

Total assets 189,631,973 1,026,182,621 455,088,941 325,384,313 1,064,978,579 145,880,392

Liabilities

Bank overdraft 0 0 0 0 102 0


Payable for investments purchased 1,652,215 4,152,118 0 0 3,405,376 484,033

Payable for shares redeemed 111,911 993,747 190,727 135,052 328,448 103,387





Total liabilities 1,901,139 5,924,719 589,636 395,303 4,615,443 704,906

TOTAL NET ASSETS 187,730,834 1,020,257,902 454,499,305 324,989,010 1,060,363,136 145,175,486



344

Notes

AAMMFWellingtonEuropean

EquitiesEUR

AAMMFHenderson

EuropeanSmaller

CompaniesEquities

EUR

AAMMFBlackrock Asia

Pacific ex-JapanEquities*

USD

AAMMF BostonPartners US

SmallerCompanies

EquitiesUSD

AAMMF LoomisUS Equities

USD

AAMMF PzenaUS Equities

USDAssets

Investments 3 296,728,279 46,688,074 44,354,540 99,912,709 112,576,339 291,625,219

Receivable for investments sold 1,041,347 435,888 39,597 42,551 1,464,312 106,856

Receivable for shares subscribed 0 79,581 127,833 10,348 10,034 3,220,569

Dividend receivable 961,459 132,723 157,013 153,921 91,729 199,657


Net unrealised gain on futures contracts 3 0 0 0 0 0 0



Accrued interest on bonds 0 0 0 0 0 0


Cash at banks 3,884,219 2,743,617 511,806 1,872,049 716,539 7,254,041

Cash at broker 0 0 0 0 0 0

Total assets 302,615,304 50,079,883 45,190,789 101,991,578 114,858,953 302,406,342

Liabilities

Bank overdraft 11 2,906 38,182 0 0 0


Payable for investments purchased 517,906 879,904 270,949 305,383 0 3,953,445

Payable for shares redeemed 134,265 33,925 132 52,899 205,935 228,870





Total liabilities 922,832 972,913 361,728 449,006 305,159 4,439,839

TOTAL NET ASSETS 301,692,472 49,106,970 44,829,061 101,542,572 114,553,794 297,966,503

*Refer to Note 1

Notes

AAMMFSchroder Euro

CorporateBonds

EUR

AAMMF InsightEuro Corporate

BondsEUR

AAMMFInvestec

EmergingMarket Equities

USD

AAMMFHenderson

EuropeanEquities

EUR

AAMMFNumeric


USD

AAMMF WilliamBlair Emerging

Market EquitiesUSD

Assets

Investments 3 253,541,831 146,518,176 193,724,996 371,363,860 356,713,328 170,232,832

Receivable for investments sold 3,508,953 483,401 1,265,927 1,790,763 4,186,100 218,049

Receivable for shares subscribed 24,964 0 36,769 154,560 386,010 218,894

Dividend receivable 0 0 949,452 1,706,048 1,717,134 315,750


Net unrealised gain on futures contracts 3 2,609,023 0 0 0 0 0

Net unrealised gain on forward foreign exchangecontracts 3 214,500 591,117 0 0 0 0


Accrued interest on bonds 2,655,274 1,239,149 0 0 0 0


Cash at banks 1,671,408 0 878,961 6,232,497 22,406,446 2,981,419

Cash at broker 3,654,787 461,070 0 0 949,006 0

Total assets 267,880,740 149,292,913 196,856,105 381,247,728 386,358,024 173,966,944

Liabilities

Bank overdraft 0 87,055 23,892 14 7,557 0

Overdraft at broker 455,576 0 0 0 0 0

Payable for investments purchased 6,840,980 582,781 461,826 3,299,686 4,398,609 168,708

Payable for shares redeemed 536,514 304,030 120,249 288,759 237,104 133,213



Net unrealised loss on futures contracts 3 0 227,371 0 0 118,819 0


Total liabilities 7,956,239 1,281,079 833,102 3,903,212 5,194,314 499,344

TOTAL NET ASSETS 259,924,501 148,011,834 196,023,003 377,344,516 381,163,710 173,467,600



345

Notes

AAMMFVerrazzano

Europe LongShortEUR

AAMMFKempen Euro

CorporateBonds

EUR

AAMMF ComfortInvest II

EUR

AAMMF ComfortInvest III

EUR

AAMMF ComfortInvest IV

EUR

AAMMFBlackrock Euro

GovernmentBonds

EURAssets

Investments 3 107,081,157 110,289,577 5,077,513 32,422,518 47,867,240 119,071,882

Receivable for investments sold 528,682 1,765,598 0 0 0 2,208,542

Receivable for shares subscribed 163,884 0 0 412,936 799,913 0

Dividend receivable 50,609 0 3,129 21,134 34,438 0

Retrocession rebates 3 0 0 0 0 1,358 0

Net unrealised gain on futures contracts 3 609,561 108,661 0 0 0 28,406


Net unrealised gain on contracts for difference 3 1,889,614 0 0 0 0 0

Accrued interest on bonds 0 925,682 0 0 0 897,949

Other receivables 162,723 0 0 0 0 0

Cash at banks 765,907 91,345 21,889 33,880 5,652 5,213,051

Cash at broker 15,969,899 176,845 0 0 0 199,751

Total assets 127,222,036 113,357,708 5,102,531 32,890,468 48,708,601 127,619,581

Liabilities

Bank overdraft 2,524,122 0 0 0 0 0


Payable for investments purchased 0 1,205,833 0 176,780 358,208 1,824,902

Payable for shares redeemed 2,554,756 217,026 0 0 0 261,260

Performance Fee 6 5,737 0 0 0 0 0




Total liabilities 5,496,578 1,471,621 2,416 191,261 379,823 2,129,232

TOTAL NET ASSETS 121,725,458 111,886,087 5,100,115 32,699,207 48,328,778 125,490,349

Notes

AAMMF NatixisEuro

GovernmentBonds

EUR

AAMMF InsightEuro

GovernmentBonds

EUR

AAMMFEuropean

EquitiesEUR

AAMMFEdentreeEuropean

SustainableEquities

EUR

AAMMFParnassus US

SustainableEquities

USDCombined

EURAssets

Investments 3 178,597,559 145,537,410 2,454,051 84,101,907 50,654,738 13,837,102,883

Receivable for investments sold 383,402 5,012,392 265 104,475 230,790 70,713,064

Receivable for shares subscribed 0 0 0 152,788 78,108 12,239,423

Dividend receivable 0 0 8,272 335,453 31,552 28,819,303

Retrocession rebates 3 0 0 0 0 0 3,080

Net unrealised gain on futures contracts 3 179,073 0 0 0 0 9,747,293

Net unrealised gain on forward foreign exchangecontracts 3 0 0 0 0 0 2,001,285

Net unrealised gain on contracts for difference 3 0 0 0 0 0 1,889,614

Accrued interest on bonds 1,699,736 823,729 0 0 0 28,768,844

Other receivables 0 0 0 0 0 164,545

Cash at banks 8,433 0 22,267 2,894,801 2,133,625 296,525,398

Cash at broker 383,523 443,291 0 0 0 32,424,926

Total assets 181,251,726 151,816,822 2,484,855 87,589,424 53,128,813 14,320,399,658

Liabilities

Bank overdraft 0 161,719 2,008 0 0 4,338,688

Overdraft at broker 0 0 0 0 0 1,438,416

Payable for investments purchased 0 9,995,201 0 152,788 118,232 104,096,225

Payable for shares redeemed 383,402 299,612 0 0 82,201 16,078,743

Performance Fee 6 0 0 0 0 0 5,737

Accrued expenses and other payables 62,080 51,186 1,881 66,275 47,251 11,490,292

Net unrealised loss on futures contracts 3 0 65,721 0 0 0 453,098

Net unrealised loss on forward foreign exchangecontracts 3 0 0 0 0 0 76,049

Total liabilities 445,482 10,573,439 3,889 219,063 247,684 137,977,248

TOTAL NET ASSETS 180,806,244 141,243,383 2,480,966 87,370,361 52,881,129 14,182,422,410



346

Notes


Asia-PacificEquities

USD


GovernmentBonds

EUR

AAMMF Fund ofMandatesEuropean

EquitiesEUR

AAMMF Fund ofMandates North

AmericanEquities

USD

AAMMF Fund ofMandatesEmerging

Market EquitiesUSD


CorporateBonds

EURIncomeBank Interest 0 0 0 0 0 0Interest on bonds 3 0 1,112,450 0 0 0 5,178,196Dividends 3 6,033,333 0 16,532,876 4,164,998 2,807,022 0Retrocession rebates 3 0 0 0 0 0 0Other Income 0 0 0 0 0 0

Total income 6,033,333 1,112,450 16,532,876 4,164,998 2,807,022 5,178,196

ExpensesManagement fee 6 2,728,457 491,375 2,912,366 2,762,138 1,179,390 1,171,191Other fees 6 414,512 149,585 556,954 437,841 176,765 384,396Performance fee 6 0 0 0 0 0 0Bank Interest 27,751 16,148 55,406 11,364 6,971 56,660Other Interest 0 0 0 0 0 0Taxes 5 132,728 93,124 183,880 146,382 50,968 159,888Other expenses 0 679 0 0 0 0

Total expenses 3,303,448 750,911 3,708,606 3,357,725 1,414,094 1,772,135NET PROFIT/(LOSS) 2,729,885 361,539 12,824,270 807,273 1,392,928 3,406,061

Realised results on investments 3 28,871,588 (373,185) 36,559,796 50,729,665 7,881,296 428,609Realised results on foreign exchange andforward foreign exchange contracts 3 (806,378) 0 (4,203,230) (635) 2,860,170 48,680Realised results on contracts for difference 3 0 0 0 0 0 0Realised results on futures contracts 3 (5,447) 52,359 174,882 71,806 1,406,609 91,207Net change in unrealisedappreciation/(depreciation) on investments 50,963,540 (1,492,248) 4,105,249 9,432,760 23,151,310 1,983,564Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts (1,280) 0 (67,792) 53,979 (35,562) 1,131,955Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts 5,794 494,976 (10,292) 0 68,510 4,657,623

Total investment result 81,757,702 (956,559) 49,382,883 61,094,848 36,725,261 11,747,699

Dividends Distributed 0 0 0 0 0 0Net proceeds from issued/redeemed shares (10,237,461) (8,233,882) (54,882,027) (215,752,184) 21,819,962 (18,644,162)

Increase / (decrease) in net assets 71,520,241 (9,190,441) (5,499,144) (154,657,336) 58,545,223 (6,896,463)Total net assets as at December 31, 2016 493,510,897 384,231,569 820,982,691 710,455,589 180,914,770 647,949,543Exchange difference 0 0 0 0 0 0

Total net assets as at June 30, 2017 565,031,138 375,041,128 815,483,547 555,798,253 239,459,993 641,053,080

STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETSFOR THE PERIOD ENDED 30-06-2017


347

Notes


Flexible BondsUSD


EUR


EUR


EUR


EUR


EURIncomeBank Interest 0 0 0 0 0 0Interest on bonds 3 6,815,547 0 0 0 0 0Dividends 3 0 6,792 122,122 510,108 807,588 870,876Retrocession rebates 3 0 0 0 0 647 0Other Income 0 0 0 0 0 0

Total income 6,815,547 6,792 122,122 510,108 808,235 870,876

ExpensesManagement fee 6 816,762 2,210 15,651 37,739 48,430 53,547Other fees 6 157,586 2,210 13,043 26,957 32,286 33,467Performance fee 6 0 0 0 0 0 0Bank Interest 16,171 0 742 2,014 2,474 3,335Other Interest 0 0 0 0 0 0Taxes 5 64,020 1 8 105 16 35Other expenses 0 0 0 0 0 0

Total expenses 1,054,539 4,421 29,444 66,815 83,206 90,384NET PROFIT/(LOSS) 5,761,008 2,371 92,678 443,293 725,029 780,492

Realised results on investments 3 5,123,976 284,047 1,006,203 3,008,550 4,530,583 5,435,847Realised results on foreign exchange andforward foreign exchange contracts 3 (7,729,259) 1 9,938 41,965 120,516 102,131Realised results on contracts for difference 3 0 0 0 0 0 0Realised results on futures contracts 3 (2,828,938) 50 (3,416) (25,004) 19,058 32,575Net change in unrealisedappreciation/(depreciation) on investments 8,438,253 (363,282) (1,089,460) (2,185,777) (2,715,977) (3,298,956)Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts (2,001,474) (149) 644 (1,858) (3,788) (2,327)Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts (390,407) 0 (201) (859) (1,528) (1,577)

Total investment result 6,373,159 (76,962) 16,386 1,280,310 2,673,893 3,048,185

Dividends Distributed 0 0 0 0 0 0Net proceeds from issued/redeemed shares 64,168,882 (2,999,206) (17,900,921) (39,413,988) (49,733,324) (55,967,937)

Increase / (decrease) in net assets 70,542,041 (3,076,168) (17,884,535) (38,133,678) (47,059,431) (52,919,752)Total net assets as at December 31, 2016 180,797,465 4,916,900 27,180,368 54,394,133 65,103,409 67,222,401Exchange difference 0 0 0 0 0 0




348

Notes


EUR


EUR


EUR


EURAAMMF Profile 1

EURAAMMF Profile 2

EURIncomeBank Interest 0 0 0 0 0 0Interest on bonds 3 0 0 0 0 193,794 1,057,610Dividends 3 664,533 405,456 414,779 1,352 0 1,772,459Retrocession rebates 3 0 0 0 0 0 0Other Income 0 0 0 0 0 77

Total income 664,533 405,456 414,779 1,352 193,794 2,830,146

ExpensesManagement fee 6 40,525 24,682 25,195 86 78,765 774,482Other fees 6 25,328 15,426 15,747 54 35,571 272,750Performance fee 6 0 0 0 0 0 0Bank Interest 2,592 1,484 1,588 1 1,915 13,676Other Interest 0 0 0 0 0 0Taxes 5 20 3 0 13 12,203 94,986Other expenses 0 0 0 0 0 0

Total expenses 68,465 41,595 42,530 154 128,454 1,155,894NET PROFIT/(LOSS) 596,068 363,861 372,249 1,198 65,340 1,674,252

Realised results on investments 3 4,315,788 2,704,683 2,493,368 1,476 134,223 7,004,812Realised results on foreign exchange andforward foreign exchange contracts 3 77,007 48,299 51,365 103 (74,507) (352,243)Realised results on contracts for difference 3 0 0 0 0 0 0Realised results on futures contracts 3 27,971 21,174 17,973 49 (61,897) (212,982)Net change in unrealisedappreciation/(depreciation) on investments (2,631,613) (1,670,540) (1,488,164) 73 (104,457) (4,597,321)Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts (1,336) (1,407) (1,866) (1) (17,748) (119,320)Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts (1,068) (616) (731) (6) 58,348 329,993

Total investment result 2,382,817 1,465,454 1,444,194 2,892 (698) 3,727,191

Dividends Distributed 0 0 0 0 0 (270,442)Net proceeds from issued/redeemed shares (45,330,295) (28,605,985) (26,172,318) 0 (7,430,395) (40,624,257)

Increase / (decrease) in net assets (42,947,478) (27,140,531) (24,728,124) 2,892 (7,431,093) (37,167,508)Total net assets as at December 31, 2016 51,007,706 31,236,784 31,276,057 103,615 54,298,085 405,550,355Exchange difference 0 0 0 0 0 0

Total net assets as at June 30, 2017 8,060,228 4,096,253 6,547,933 106,507 46,866,992 368,382,847



349

NotesAAMMF Profile 3

EURAAMMF Profile 4

EURAAMMF Profile 5

EURAAMMF Profile 6

EUR

AAMMFVerzekeringen

BeleggingsfondsZeer Defensief*

EUR

AAMMFVerzekeringen

BeleggingsfondsDefensief*

EURIncomeBank Interest 0 0 0 0 0 0Interest on bonds 3 3,559,495 2,344,089 242,920 0 7,631 21,825Dividends 3 10,284,307 14,169,869 4,788,677 2,886,016 0 141,978Retrocession rebates 3 0 0 0 0 0 0Other Income 389 548 196 125 0 0

Total income 13,844,191 16,514,506 5,031,793 2,886,141 7,631 163,803

ExpensesManagement fee 6 3,689,266 4,009,713 1,141,455 686,076 29,500 115,616Other fees 6 877,022 873,829 231,599 123,177 7,045 27,610Performance fee 6 0 0 0 0 0 0Bank Interest 58,581 59,398 14,138 10,030 91 816Other Interest 0 0 0 0 0 0Taxes 5 303,072 310,535 83,086 44,702 2,164 8,452Other expenses 0 0 0 0 0 0

Total expenses 4,927,941 5,253,475 1,470,278 863,985 38,800 152,494NET PROFIT/(LOSS) 8,916,250 11,261,031 3,561,515 2,022,156 (31,169) 11,309

Realised results on investments 3 32,245,934 46,938,287 11,679,686 7,208,435 9,774 209,492Realised results on foreign exchange andforward foreign exchange contracts 3 1,555,002 (1,871,204) 1,245,990 (373,117) 930 30,334Realised results on contracts for difference 3 0 0 0 0 0 0Realised results on futures contracts 3 (460,075) 12,718 140,509 138,578 (6,277) (22,669)Net change in unrealisedappreciation/(depreciation) on investments (19,967,118) (21,120,130) (4,552,907) (58,237) (22,174) (101,271)Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts (409,704) (423,804) (104,422) (59,884) (330) (1,320)Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts 1,144,177 765,994 86,774 16,285 3,678 10,064

Total investment result 23,024,466 35,562,892 12,057,145 8,894,216 (45,568) 135,939

Dividends Distributed 0 (472,130) 0 (353,885) 0 0Net proceeds from issued/redeemed shares (103,043,234) (54,061,625) (6,031,118) 8,205,296 (721,569) (2,846,458)

Increase / (decrease) in net assets (80,018,768) (18,970,863) 6,026,027 16,745,627 (767,137) (2,710,519)Total net assets as at December 31, 2016 1,278,927,796 1,241,244,182 324,231,074 164,652,784 9,155,750 35,951,413Exchange difference 0 0 0 0 0 0

Total net assets as at June 30, 2017 1,198,909,028 1,222,273,319 330,257,101 181,398,411 8,388,613 33,240,894

*Refer to Note 1



350

Notes

AAMMFVerzekeringen

BeleggingsfondsMatig Defensief*

EUR

AAMMFVerzekeringen

BeleggingsfondsMatig Offensief*

EUR

AAMMFVerzekeringen

BeleggingsfondsOffensief*

EUR

AAMMFVerzekeringen

BeleggingsfondsZeer Offensief*

EUR

AAMMF GlobalProperty Index

EUR

AAMMF GlobalSustainable

EquitiesEUR

IncomeBank Interest 0 0 0 0 0 0Interest on bonds 3 179,189 182,139 35,539 0 0 0Dividends 3 1,926,513 4,380,848 2,740,487 2,679,483 1,533 1,967,000Retrocession rebates 3 0 2,250 973 876 0 0Other Income 0 0 0 0 0 0

Total income 2,105,702 4,565,237 2,776,999 2,680,359 1,533 1,967,000

ExpensesManagement fee 6 886,563 1,452,579 726,080 640,848 78 247,157Other fees 6 211,716 346,885 173,392 153,039 51 152,490Performance fee 6 0 0 0 0 0 0Bank Interest 8,118 17,183 6,271 6,797 1 11,285Other Interest 0 0 0 0 0 0Taxes 5 64,453 105,380 52,307 45,657 0 45,220Other expenses 0 0 0 0 0 0

Total expenses 1,170,850 1,922,027 958,050 846,341 130 456,152NET PROFIT/(LOSS) 934,852 2,643,210 1,818,949 1,834,018 1,403 1,510,848

Realised results on investments 3 2,080,729 3,845,199 1,938,658 3,224,627 314 5,680,208Realised results on foreign exchange andforward foreign exchange contracts 3 476,137 1,230,907 800,855 933,323 266 1,064,634Realised results on contracts for difference 3 0 0 0 0 0 0Realised results on futures contracts 3 (158,683) (42,966) 118,913 167,304 65 0Net change in unrealisedappreciation/(depreciation) on investments (243,490) 2,084,234 2,212,269 3,222,505 (5,513) 2,178,030Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts (7,611) (12,147) (9,185) (10,964) 1 (27,113)Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts 79,739 76,959 8,076 (13,415) (5) 0

Total investment result 3,161,673 9,825,396 6,888,535 9,357,398 (3,469) 10,406,607

Dividends Distributed 0 0 0 0 0 0Net proceeds from issued/redeemed shares (21,150,260) (27,748,102) (14,801,778) (17,485,749) (31,340) (22,800,329)

Increase / (decrease) in net assets (17,988,587) (17,922,706) (7,913,243) (8,128,351) (34,809) (12,393,722)Total net assets as at December 31, 2016 271,716,514 438,151,150 217,318,682 191,110,048 117,932 201,500,178Exchange difference 0 0 0 0 0 0

Total net assets as at June 30, 2017 253,727,927 420,228,444 209,405,439 182,981,697 83,123 189,106,456

*Refer to Note 1



351

Notes

AAMMF AlgerUS Equities

USD

AAMMFAristotle US

EquitiesUSD

AAMMFEdinburgh

PartnersEuropean

EquitiesEUR

AAMMF HermesEuropean

EquitiesEUR

AAMMF PzenaEuropean

EquitiesEUR

AAMMF TCWUS Equities

USDIncomeBank Interest 0 3,164 0 0 0 636Interest on bonds 3 0 0 0 0 0 0Dividends 3 885,072 6,599,054 8,392,153 6,951,186 17,339,876 1,535,547Retrocession rebates 3 0 0 0 0 0 0Other Income 0 0 0 0 0 0

Total income 885,072 6,602,218 8,392,153 6,951,186 17,339,876 1,536,183

ExpensesManagement fee 6 678,714 3,479,857 1,599,393 1,164,870 3,622,481 618,363Other fees 6 138,438 614,569 300,461 250,181 672,612 137,411Performance fee 6 0 0 0 0 0 0Bank Interest 567 0 17,222 18,683 120,872 0Other Interest 0 0 0 0 0 0Taxes 5 47,317 116,120 110,670 80,574 172,498 45,894Other expenses 0 0 0 0 0 0

Total expenses 865,036 4,210,546 2,027,746 1,514,308 4,588,463 801,668NET PROFIT/(LOSS) 20,036 2,391,672 6,364,407 5,436,878 12,751,413 734,515

Realised results on investments 3 15,715,767 14,804,794 486,615 13,692,702 16,963,277 23,056,541Realised results on foreign exchange andforward foreign exchange contracts 3 43 1,385,989 (768,969) (3,274,697) (435,204) 0Realised results on contracts for difference 3 0 0 0 0 0 0Realised results on futures contracts 3 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on investments 16,735,932 61,862,176 9,390,913 12,492,037 9,452,931 (11,054,520)Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts 0 (232,024) (664) 2,561 4,968 0Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts 0 0 0 0 0 0

Total investment result 32,471,778 80,212,607 15,472,302 28,349,481 38,737,385 12,736,536

Dividends Distributed 0 0 0 0 0 0Net proceeds from issued/redeemed shares (50,426,459) 118,753,707 69,548,500 (155,235,389) 264,908,731 (122,925,229)

Increase / (decrease) in net assets (17,954,681) 198,966,314 85,020,802 (126,885,908) 303,646,116 (110,188,693)Total net assets as at December 31, 2016 205,685,515 821,291,588 369,478,503 451,874,918 756,717,020 255,364,179Exchange difference 0 0 0 0 0 0

Total net assets as at June 30, 2017 187,730,834 1,020,257,902 454,499,305 324,989,010 1,060,363,136 145,175,486



352

Notes

AAMMFWellingtonEuropean

EquitiesEUR

AAMMFHenderson

EuropeanSmaller

CompaniesEquities

EUR

AAMMFBlackrock Asia

Pacific ex-JapanEquities*

USD

AAMMF BostonPartners US

SmallerCompanies

EquitiesUSD

AAMMF LoomisUS Equities

USD

AAMMF PzenaUS Equities

USDIncomeBank Interest 0 18 0 333 0 922Interest on bonds 3 0 0 0 0 0 0Dividends 3 4,522,662 729,046 438,257 642,809 720,859 2,083,394Retrocession rebates 3 0 0 0 0 0 0Other Income 0 0 0 0 0 0

Total income 4,522,662 729,064 438,257 643,142 720,859 2,084,316

ExpensesManagement fee 6 1,081,705 272,989 201,601 418,417 493,333 1,139,285Other fees 6 205,964 33,014 26,727 69,992 96,780 203,105Performance fee 6 0 0 0 0 0 0Bank Interest 28,910 0 1,250 0 273 0Other Interest 0 0 0 0 0 0Taxes 5 73,767 11,878 9,339 25,312 35,190 73,682Other expenses 0 0 0 0 0 0

Total expenses 1,390,346 317,881 238,917 513,721 625,576 1,416,072NET PROFIT/(LOSS) 3,132,316 411,183 199,340 129,421 95,283 668,244

Realised results on investments 3 21,082,047 3,724,048 3,926,358 2,136,355 10,565,810 5,865,983Realised results on foreign exchange andforward foreign exchange contracts 3 (2,632,735) (318,566) (188,427) 0 0 0Realised results on contracts for difference 3 0 0 0 0 0 0Realised results on futures contracts 3 0 0 2,185 0 0 0Net change in unrealisedappreciation/(depreciation) on investments 13,506,604 2,440,727 1,139,967 1,106,521 12,537,072 2,269,653Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts (1,202) (7,739) 4,044 0 0 0Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts 0 0 0 0 0 0


Dividends Distributed 0 0 0 0 0 0Net proceeds from issued/redeemed shares (39,456,899) (2,130,864) 12,138,431 626,150 (62,890,987) 2,600,624

Increase / (decrease) in net assets (4,369,869) 4,118,789 17,221,898 3,998,447 (39,692,822) 11,404,504Total net assets as at December 31, 2016 306,062,341 44,988,181 27,607,163 97,544,125 154,246,616 286,561,999Exchange difference 0 0 0 0 0 0


*Refer to Note 1



353

Notes

AAMMFSchroder Euro

CorporateBonds

EUR

AAMMF InsightEuro Corporate

BondsEUR

AAMMFInvestec


USD

AAMMFHenderson

EuropeanEquities

EUR

AAMMFNumeric


USD

AAMMF WilliamBlair Emerging

Market EquitiesUSD

IncomeBank Interest 0 0 0 0 0 0Interest on bonds 3 3,171,401 1,783,111 0 0 0 0Dividends 3 0 0 2,311,861 8,108,158 5,439,857 1,427,442Retrocession rebates 3 0 0 0 0 0 0Other Income 0 0 0 0 0 0

Total income 3,171,401 1,783,111 2,311,861 8,108,158 5,439,857 1,427,442

ExpensesManagement fee 6 410,162 375,254 732,962 1,063,724 1,916,141 733,618Other fees 6 160,374 148,496 118,796 212,202 314,493 125,215Performance fee 6 0 0 0 0 0 0Bank Interest 22,279 916 1,330 71 2,399 857Other Interest 0 0 0 0 0 0Taxes 5 66,155 51,043 35,734 77,045 92,511 38,036Other expenses 0 0 0 0 0 0

Total expenses 658,970 575,709 888,822 1,353,042 2,325,544 897,726NET PROFIT/(LOSS) 2,512,431 1,207,402 1,423,039 6,755,116 3,114,313 529,716

Realised results on investments 3 1,855,345 1,137,365 4,598,724 3,303,368 26,271,883 3,597,882Realised results on foreign exchange andforward foreign exchange contracts 3 850,719 (881,582) (1,091,504) (2,136,786) (89,672) (114,205)Realised results on contracts for difference 3 0 0 0 0 0 0Realised results on futures contracts 3 (321,788) 342,604 0 0 2,303,001 0Net change in unrealisedappreciation/(depreciation) on investments 2,054,147 760,895 20,987,653 3,814,111 31,959,706 20,074,151Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts (455,784) 1,516,897 3,927 (120,220) (141,508) (1,289)Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts 2,634,534 (226,034) 0 0 200,774 0


Dividends Distributed 0 0 0 0 0 0Net proceeds from issued/redeemed shares (26,896,901) (126,592,298) 44,301,073 97,509,031 13,686,856 33,661,946

Increase / (decrease) in net assets (17,767,297) (122,734,751) 70,222,912 109,124,620 77,305,353 57,748,201Total net assets as at December 31, 2016 277,691,798 270,746,585 125,800,091 268,219,896 303,858,357 115,719,399Exchange difference 0 0 0 0 0 0




354

Notes

AAMMFVerrazzano

Europe LongShortEUR

AAMMFKempen Euro

CorporateBonds

EUR

AAMMF ComfortInvest II

EUR

AAMMF ComfortInvest III

EUR

AAMMF ComfortInvest IV

EUR

AAMMFBlackrock Euro

GovernmentBonds

EURIncomeBank Interest 0 0 0 0 0 0Interest on bonds 3 0 120,137 0 0 0 469,198Dividends 3 110,923 0 30,142 194,035 315,874 0Retrocession rebates 3 0 0 0 0 1,776 0Other Income 1,086,416 0 0 0 0 0

Total income 1,197,339 120,137 30,142 194,035 317,650 469,198

ExpensesManagement fee 6 1,158,621 68,583 7,540 40,410 54,667 118,759Other fees 6 178,614 13,938 3,519 18,858 25,511 52,782Performance fee 6 5,737 0 0 0 0 0Bank Interest 371,637 4,056 20 1,172 1,002 7,756Other Interest 775,949 0 0 0 0 0Taxes 5 28,168 15,373 1,070 5,788 7,178 32,227Other expenses 0 0 0 0 0 0

Total expenses 2,518,726 101,950 12,149 66,228 88,358 211,524NET PROFIT/(LOSS) (1,321,387) 18,187 17,993 127,807 229,292 257,674

Realised results on investments 3 22,479,438 (634,280) 26,812 132,518 153,012 48,706Realised results on foreign exchange andforward foreign exchange contracts 3 14,095 0 (12) (48) (163) 0Realised results on contracts for difference 3 (16,412,023) 0 0 0 0 0Realised results on futures contracts 3 (3,149,152) 20,457 0 0 0 114,584Net change in unrealisedappreciation/(depreciation) on investments (15,414,912) (5,257) (34,026) (151,871) (287,868) (693,457)Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts (20,897) 0 (177) (1,112) (1,981) 0Net change in unrealisedappreciation/(depreciation) on contracts fordifference 13,008,378 0 0 0 0 0Net change in unrealisedappreciation/(depreciation) on futurescontracts 710,490 114,967 0 0 0 7,314

Total investment result (105,970) (485,926) 10,590 107,294 92,292 (265,179)

Dividends Distributed 0 0 0 0 0 0Net proceeds from issued/redeemed shares (24,676,269) 101,468,897 180,424 12,753,330 24,203,869 (12,527,034)

Increase / (decrease) in net assets (24,782,239) 100,982,971 191,014 12,860,624 24,296,161 (12,792,213)Total net assets as at December 31, 2016 146,507,697 10,903,116 4,909,101 19,838,583 24,032,617 138,282,562Exchange difference 0 0 0 0 0 0




355

Notes

AAMMF NatixisEuro

GovernmentBonds

EUR

AAMMF InsightEuro

GovernmentBonds

EUR

AAMMFEuropean

EquitiesEUR

AAMMFEdentreeEuropean

SustainableEquities

EUR

AAMMFParnassus US

SustainableEquities

USDCombined

EURIncomeBank Interest 0 0 0 0 728 5,088Interest on bonds 3 387,169 468,536 0 0 0 26,490,096Dividends 3 0 0 38,527 1,709,751 352,837 147,592,767Retrocession rebates 3 0 0 0 0 0 6,522Other Income 0 0 0 0 0 1,087,751

Total income 387,169 468,536 38,527 1,709,751 353,565 175,182,224

ExpensesManagement fee 6 168,358 145,568 8,676 207,032 196,648 46,735,722Other fees 6 76,264 59,232 1,620 43,269 32,725 9,885,801Performance fee 6 0 0 0 0 0 5,737Bank Interest 4,030 1,904 34 8,696 0 1,020,442Other Interest 0 0 0 0 0 775,949Taxes 5 46,486 36,196 122 17,074 11,823 3,253,683Other expenses 995 0 0 0 0 1,674

Total expenses 296,133 242,900 10,452 276,071 241,196 61,679,008NET PROFIT/(LOSS) 91,036 225,636 28,075 1,433,680 112,369 113,503,216

Realised results on investments 3 101,855 (651,019) 52,266 57,897 573,851 445,224,114Realised results on foreign exchange andforward foreign exchange contracts 3 0 0 (7,338) 37,020 0 (13,652,547)Realised results on contracts for difference 3 0 0 0 0 0 (16,412,023)Realised results on futures contracts 3 (474,976) 382,279 0 0 0 (2,232,332)Net change in unrealisedappreciation/(depreciation) on investments (1,306,157) 197,876 163,200 2,103,971 2,137,903 207,281,054Net change in unrealisedappreciation/(depreciation) on foreigncurrency and forward foreign exchangecontracts 0 0 (11) 440 0 (1,297,847)Net change in unrealisedappreciation/(depreciation) on contracts fordifference 0 0 0 0 0 13,008,378Net change in unrealisedappreciation/(depreciation) on futurescontracts 409,375 317,322 0 0 0 11,569,239

Total investment result (1,178,867) 472,094 236,192 3,633,008 2,824,123 756,991,252

Dividends Distributed 0 0 0 0 0 (1,096,457)Net proceeds from issued/redeemed shares (18,362,412) (14,654,947) 212,497 83,737,353 50,057,006 (512,508,556)

Increase / (decrease) in net assets (19,541,279) (14,182,853) 448,689 87,370,361 52,881,129 243,386,239Total net assets as at December 31, 2016 200,347,523 155,426,236 2,032,277 0 0 14,221,425,486Exchange difference 0 0 0 0 0 (282,389,315)

Total net assets as at June 30, 2017 180,806,244 141,243,383 2,480,966 87,370,361 52,881,129 14,182,422,410



356

1. GeneralABN AMRO Multi-Manager Funds (the “SICAV”) is an open-endedinvestment company incorporated on 17 November 2000 under the lawsof the Grand Duchy of Luxembourg as a “Société Anonyme” whichqualifies as a “Société d’Investissement à Capital Variable” andregistered under Part I of the Luxembourg law of 17 December 2010 asamended (the “Law”) relating to Undertakings for CollectiveInvestment (“UCI’s”) for the public offering of its Shares in thejurisdiction of the Grand Duchy of Luxembourg.

Rather than concentrating on one particular investment objective, theSICAV is divided into different Sub-funds each of which has its owninvestment strategy, objectives and policy, its own funding andpredetermined risk profile as set out in the SICAV’s prospectus.

There is no cross liability between Sub-funds and each Sub-funds shallbe exclusively responsible for all liabilities attributable to it.

These financial statements are presented on the basis of the Net AssetValue (“NAV”) calculated on 30 June 2017, the last business day of theperiod.

The abbreviation, AAMMF refers to ABN AMRO Multi-ManagerFunds, may be used throughout the report.

Significant changes during the period ended 30 June 2017:

The following share classes were launched:

Compartments Share Class Date of launchAAMMF Edentree European Sustainable Equities A 19 January 2017AAMMF Edentree European Sustainable Equities C 19 January 2017AAMMF Edentree European Sustainable Equities F 19 January 2017AAMMF Parnassus US Sustainable Equities A-EUR 19 January 2017AAMMF Parnassus US Sustainable Equities C 19 January 2017AAMMF Parnassus US Sustainable Equities F 19 January 2017

The following Compartments changed their names:

Compartments DateAAMMF Verzekeringen Beleggingsfonds Zeer Defensief (formerly Verzekeringen Profile 1) 13 June 2017AAMMF Verzekeringen Beleggingsfonds Defensief (formerly Verzekeringen Profile 2) 13 June 2017AAMMF Verzekeringen Beleggingsfonds Matig Defensief (formerly Verzekeringen Profile 3) 13 June 2017AAMMF Verzekeringen Beleggingsfonds Matig Offensief (formerly Verzekeringen Profile 4) 13 June 2017AAMMF Verzekeringen Beleggingsfonds Offensief (formerly Verzekeringen Profile 5) 13 June 2017AAMMF Verzekeringen Beleggingsfonds Zeer Offensief (formerly Verzekeringen Profile 6) 13 June 2017AAMMF Blackrock Asia Pacific ex-Japan Equities (formerly Asian Equities) 1 January 2017

2. Investment objectivesThe SICAV’s general investment objective, based upon the principle ofrisk spreading, is to manage its assets for the benefit of the Shareholdersand to achieve the best possible result and potential capital growth.

Each of the existing Sub-funds as of 30 June 2017 falls into a range asfollows:

- Funds of Funds- Funds of Mandates- Index- Profile- Pension Lifecycle- Single Manager

Funds of Funds aim to reach the objective of the SICAV by investing inunits or shares of other open-ended investment funds which qualify asUndertaking for Collective Investment in Transferable Securities(“UCITS”) or Undertakings for Collective Investment (“UCI’s”).

The Funds of Mandates aim to reach the objective of the SICAV byinvesting in transferable securities managed mainly by delegating themanagement of the Sub-funds to a minimum of two investmentmanagers that are not part of ABN AMRO Group (“External InvestmentManager”).

The Profile and Pension Lifecycle Sub-funds aim to reach the objectiveof the SICAV by investing directly in transferable securities managedmainly by delegated external asset managers that are not part of ABNAMRO Group and which are selected by the Investment Manager,and/or also, by investing in units or shares of other open-endedinvestment funds which qualify as UCITS or UCI’s.

The Single Manager aim to reach the objective of the SICAV byinvesting directly in transferable securities managed mainly bydelegated external asset managers that are not part of ABN AMROGroup and which are selected by the Investment Manager.

External Investment managers are selected by the ManagementCompany who will make investment decisions as part of managementof the assets of the Sub-fund and have been selected in accordance withpredefined criteria including:

- a qualitative selection by analyzing the stability and strength of theExternal Investment manager, as well as their investment process andphilosophy; and by meeting with the external investment managementteams;

- a quantitative selection which aims to select only those ExternalInvestment managers with proven risk-adjusted performance.

Each Sub-funds may also hold cash and cash equivalents under thelimits prescribed by the Law.

3. Significant accounting policiesThe financial statements are presented in accordance with the GenerallyAccepted Accounting Principles in Luxembourg applicable toinvestment funds.

There were no cross-investments as at 30 June 2017.

The total combined NAV at period-end would amount toEUR 14,220,336,050.

NOTES TO THE FINANCIAL STATEMENTS AS AT 30-06-2017

357

a. Valuation of Investments

The value of cash in hand or on deposit, notes and bills payable ondemand and accounts receivable, prepaid expenses, and dividends andinterest announced or due but not yet paid, will be constituted by theface value of these assets, unless it seems unlikely that this value can beachieved; in which case, the value is determined by deducting suchamount as the Company considers appropriate in order to reflect the realvalue of these assets.

The value of units in undertakings for collective investment will bedetermined according to the latest available net asset value.

The valuation of all securities listed on a stock exchange or any otherregulated market which functions regularly, is recognised and accessibleto the public, is based on the most recent price in Luxembourg on thecalculation date and, if the securities concerned are traded on severalmarkets, on the basis of the most recent price on the major market onwhich they are traded; if this price is not a true reflection, the valuationis based on the probable sale price estimated by the Board of Directorsin a prudent and bona fide manner.

Securities not listed or traded on a stock market or any other regulatedmarket, operating regularly, which is recognised and open to the public,are valued on the basis of their probable realisation value estimatedregularly, prudently and in good faith by a qualified professionalappointed for this purpose by the Board of Directors in agreement withthe depositary bank.

Securities expressed in a currency other than the currency of expressionof the Sub-fund concerned are converted on the basis of the exchangerate applicable on the valuation day.

In accordance with the prospectus, the net asset value has beencalculated using the latest prices and exchange known at the time ofcalculation.

b. Investment Income and Investment Transactions

Interest income is accrued daily. Investment transactions are accountedfor on a trade date basis. Dividend income is recorded on theex-dividend date, net of withholding tax. Investment gains and lossesare determined on an average cost basis.

c. Foreign currencies

The value of all assets and liabilities not expressed in the referencecurrency of a Sub-fund is converted into the reference currency of suchSub-funds at the rate of exchange ruling in Luxembourg on the relevantValuation Day.

Transactions occurring during the period in currencies other than thebase currency are translated at rates of exchange ruling at thetransaction dates.

Financial Statements are presented for each of the Sub-funds in the basecurrency of the Sub-fund and the combined Statement of Net Assets andStatement of Operations and Changes in Net Assets are presented inEuro, based on the exchange rate ruling at the date of these financialstatements.

The difference between opening net assets stated at exchange ratesruling at the beginning of the period and their value at the end of theperiod is shown as an exchange difference in the Statement ofOperations and Changes in Net Assets.

Foreign exchange rates used in the preparation of these financialstatements are the following:

EUR = 0.878 GBPEUR = 128.152 JPYEUR = 1.141 USD

d. Forward foreign exchange contracts

Forward foreign exchange contracts are over-the-counter contracts fordelivery of currency in which the Sub-fund agrees to receive or deliver afixed quantity of a foreign currency for an agreed price upon an agreedfuture date. The unrealised gain or loss on open forward foreignexchange contracts is calculated by reference to the difference betweenthe contracted rate and the rate to close out the contract. Unrealised gainor loss is recorded in the Statement of Net Assets and their variations arerecorded in the Statement of Operations and Changes in Net Assets.

e. Futures contracts

Initial margin deposits on futures contracts are made upon entering intofutures contracts and changes in the value of the contract are recognisedas unrealised gains or losses by “marking-to-market” on a daily basis toreflect the market value of the contract.

The liquidating value of futures contracts traded on exchanges or onregulated markets shall be based upon the last available settlementprices of these contracts on exchanges and regulated markets, and/orother regulated markets on which the particular futures contracts aretraded by the SICAV; provided that if a future contract could not beliquidated on the day with respect to which net assets are beingdetermined, the basis for determining the liquidating value of suchcontract shall be such value as the Board of Directors may deem fair andreasonable. Realised gains and losses on futures contracts are includedin the Statement of Operations and Changes in Net Assets.

f. Contracts for difference

Contracts for Difference are valued based on the closing market price ofthe underlying security, less any financing charges attributable to eachcontract. Upon entering into Contracts for Difference, the Fund may berequired to pledge to the broker an amount of cash and/or other assetsequal to certain percentage of the contract amount (“initial margin”).

Subsequently, payments known as “variation margin” are made orreceived by the Fund periodically, depending on fluctuations in thevalue of the underlying security. During the period the contracts areopen, changes in the values of the contracts are recognised as unrealisedgains and losses by marking to market at each valuation date in order toreflect the value of the underlying security.

Realised gains or losses upon closure of the contract are equal to thedifference between the value of the contract at the time it was openedincluding financial charges and the value at the time it was closed.Dividends received on underlying securities are recognised in income.

Dividends attributable to open Contracts for Difference are alsoincluded in the value of unrealized gain/(loss) at the end of the period.

g. Retrocession rebates

The Sub-fund receives a rebate where the Sub-fund has invested in otherUCITS/UCI’s with which the Sub-fund has a retrocession agreement inplace.

Any such rebates receivable are credited to each Sub-fund’s Statementof Operations and Changes in Net Assets on an accrual basis.

h. Dividends

If approved by Shareholders at the annual general meeting, the SICAVwill make a distribution to holders of Dividend Shares of each Sub-fundfrom its net investment income, realised and unrealised capital gainsand from the capital of the Sub-fund within the limits of applicable lawand regulations.


358

The Board of Directors may also decide, in the course of the financialyear, to affect one or more interim dividend pay-out(s) in relation to anyof the Sub-funds. The Board of Directors reserves the right to increaseor decrease the frequency of the dividend payments at its discretion andto introduce a dividend policy which may vary from one Sub-fund toanother.

4. Co-ManagementIn order to reduce operating and administrative expenses while enablinggreater diversification of investments, the Board of Directors decided toco-manage some or all of the SICAV’s assets with assets belonging toother undertakings for collective investment or to co-manage some orall of the Sub-funds’ assets together.

Under co-management, the Investment Manager makes investment,disinvestment or portfolio adjustment decisions for the co-managedentities as a whole that will affect the SICAV’s portfolio composition orthe composition of the portfolios of its co-managed Sub-fund. Of thetotal co-managed assets, each co-managed entity owns a share of theco-managed assets corresponding to the proportion of its net assets inrelation to the total value of the co-managed assets.

This proportional holding will be applied to each line of the portfolioheld or acquired under co-management. In the case of investment and/ordisinvestment decisions, these proportions will not be affected and theadditional investments will be allocated to the co-managed entities inthe same proportions, and assets sold will be deducted proportionallyfrom the co-managed assets held by each co-managed entity.

For some securities and future contracts, a quantity of zero is disclosedin the statements of investments and other net assets and liabilities whenthe application of the allocation ratio on the co-managed assets leads toa quantity below 1 unit (fractional shares/ contracts).

Co-managed assets will only be co-managed with assets designed to beinvested according to an identical investment objective applicable tothat of the co-managed assets in such a way as to ensure that theinvestment decisions are fully compatible with the investment policy ofthe SICAV or its Sub-funds.

The co-managed assets will only be co-managed with assets for whichthe Depositary bank also acts as depositary so as to ensure that theDepositary bank can, with regard to the SICAV or its Sub-funds, fullyexercise its functions and responsibilities in accordance with theprovisions of the Law.

5. Taxation of the SICAVThe SICAV is not liable to any Luxembourg tax on profits or income,nor are distributions paid by the SICAV liable to any Luxembourgwithholding tax. However, interest, dividends and other revenuereceived by the SICAV on its investments may be subject tonon-recoverable withholding tax or other taxes in the countries oforigin.

The only tax the SICAV is subject to in Luxembourg is the “Taxed’Abonnement” at the rate of (i) 0.05% per annum of the NAV ofClass A Shares, B Shares, C Shares, E Shares and F Shares of allSub-funds and (ii) 0.01% per annum of the NAV of Class I Shares andClass SC of all Sub-funds. This tax is payable quarterly on the basis ofthe value of the aggregate net assets of the Sub-funds and theirrespective Class of Shares at the end of the relevant calendar quarterexcluding the proportion of net assets of the SICAV, on the last day ofeach quarter, represented by units or shares held by the SICAV inLuxembourg based UCITS and UCI’s on condition that they havealready been subject to the “Taxe d’Abonnement” provided for byLuxembourg Law.

The SICAV is registered with the Financial Services and MarketsAuthority in Belgium. Funds registered for public distribution inBelgium are subject to an annual tax of 0.0925% on the net asset valueof units distributed in Belgium via Belgian intermediaries as at31 December of the previous year.

6. Fees expensed by the SICAVa. Management feesThe Investment Manager is entitled to receive a management feerepresenting a rate per annum based on the net assets of each Sub-fund.For each Sub-fund and share class, the management fee rate is disclosedin the table below. The maximum level of management fee that may becharged to both the Sub-fund and the underlying investment funds inwhich it invests is 3%. The management fee is accrued daily.

A Sub-fund may acquire shares of one or more other Sub-funds of theSICAV (the target Sub-fund), provided that there shall be no duplicationof management/subscription or repurchase fees between those at thelevel of the Sub-Fund having invested in the target Sub-Fund, and thistarget Sub-Fund.

b. Performance fees

The Management Company is entitled to receive out of the assets of theSub-funds and Share Classes listed below a performance feerepresenting a rate per annum at the end of financial period (the“Performance Fee”) based on the difference between the performanceof the Sub-fund and that of its benchmark.

The performance fee is equal to 20% of the difference between theSub-fund’s performance and the base NAV and the maximum of theHigh Watermark or of its Benchmark. The Performance Fee for eachSub-fund is only accrued on each day if the performance, based on thebase NAV, of a Class of Shares exceeds the higher of the relevantBenchmark and, if applicable, the relevant High Watermark. In case ofnegative (relative) performance or declining positive (relative)performance any accrued performance fee shall be released in caseswhere such negative (relative) performance or declining (relative)performance occurs during a performance fee calculation period. Anyperformance fee accrued will be earned at the end of the applicablecalculation period.

In case of negative (relative) performance or declining positive(relative) performance any accrued performance fee shall be released incases where such negative (relative) performance or declining (relative)performance occurs during a performance fee calculation period. Anyperformance fee accrued will be earned at the end of the applicablecalculation period.

Upon redemption, the part of the accrued performance feecorresponding to the number of units redeemed is crystallised andimmediately payable to the Management Company.

For Class A of Sub-fund AAMMF Euro Bonds, the performance fee isequal to 20% of the positive difference between the Sub-fund’sperformance and the performance of JP Morgan Global GovernmentBond EMU Index in Euro. This fee is recognised each time the NAV iscalculated using the “High Watermark with Hurdle rate�.

For Class A and B of Sub-fund AAMMF World Equities, theperformance fee is equal to 20% of the positive difference between theSub-fund’s performance and the performance of MSCI World Index –Total return in Euro. This fee is recognised each time the NAV iscalculated using the “High Watermark with Hurdle rate�.

For Sub-fund AAMMF Verrazzano Europe Long Short, theperformance fee is equal to 25% of the positive difference between theSub-fund’s performance and the performance of the EONIA reinvested+1%. This fee is recognized each time the NAV is calculated using the“High Watermark with Hurdle rate�.


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The High Watermark (if applicable) is the highest NAV of the sub-fundas at the end of any previous financial year on which performance feeswas paid, after deducting any performance fee or the inception NAV incase no performance fee was paid in the past. For distributing classes ofshares, the High Watermark is reduced by dividend distributions.

Performance fees of EUR 5,737 were paid on the Sub-fund AAMMFVerrazzano Europe Long Short for the period ended 30 June 2017.

c. Other fees

Apart from the Management Fee and Performance Fee (if applicable),each Sub-fund will be charged another fee (the “Other Fee”) payable toABN AMRO Investment Solutions to cover the administration,depositary and other ongoing operating and administrative services.

Fees calculated and deducted monthly from the average net assets of asub-fund, share category, or share class and serving to cover generalcustody assets expenses (remuneration of the Depositary) and dailyadministration expenses (NAV calculation, record and book keeping,notices to the shareholders, providing and printing the documents

legally required for the shareholders and for the Luxembourg regulatoryauthorities, fees linked to the registration of the Company with a foreignlocal authority and to the maintenance of such registration, fees linkedto the translation of the prospectus, KIID, and any other documentslegally required, KIID production fees, fees in relation to the productionof factsheets, listing fees, domiciliation, auditors cost and fees...),except for brokerage fees, commissions for transactions not related tothe Depositary, director fees, interest and bank fees, one-off expenses,and the Taxe d’abonnement in force in Luxembourg, as well as any otherspecific foreign tax.

The fixed Other Fee is defined at share class level for each of theSub-funds and is accrued daily. For each Share Class of each Sub-fund,the characteristics and applicable rates of the fees mentioned in theparagraphs disclosed here-above can be summarized as below.

The End of the period Management fee rate corresponds to the rate as of30 June 2017. Some shares classes have seen changes in the respectivefee rate during the fiscal period 2017.

Share Class

MaximumManagementfee rate

End of the periodManagementfee rate

MaximumOtherfee rate

End of the periodOther fee rate

Performancefee

AAMMF Fund of Mandates Asia-Pacific EquitiesA-EUR 2.00% 2.00% 0.25% 0.16% Not ApplicableA-USD 2.00% 2.00% 0.25% 0.16% Not ApplicableC-EUR 1.10% 0.92% 0.25% 0.16% Not ApplicableC-USD 1.10% 0.92% 0.25% 0.16% Not ApplicableF 1.10% 1.00% 0.25% 0.16% Not ApplicableI-USD 1.00% 1.00% 0.15% 0.15% Not ApplicableAAMMF Fund of Mandates Euro Government BondsA 0.85% 0.85% 0.18% 0.08% Not ApplicableC 0.50% 0.18% 0.18% 0.08% Not ApplicableCH DUR 0.65% 0.47% 0.18% 0.08% Not ApplicableF 0.50% 0.30% 0.18% 0.08% Not ApplicableAAMMF Fund of Mandates European EquitiesA-EUR 1.75% 1.75% 0.18% 0.14% Not ApplicableA-USD 1.75% 1.75% 0.18% 0.14% Not ApplicableC-EUR 0.95% 0.65% 0.18% 0.14% Not ApplicableC-USD 0.95% 0.65% 0.18% 0.14% Not ApplicableF 0.95% 0.85% 0.18% 0.14% Not ApplicableI-EUR 0.85% 0.85% 0.15% 0.14% Not ApplicableAAMMF Fund of Mandates North American EquitiesA-EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableA-USD 1.50% 1.50% 0.18% 0.14% Not ApplicableC-EUR 0.85% 0.62% 0.18% 0.14% Not ApplicableC-USD 0.85% 0.62% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableI-USD 0.75% 0.75% 0.15% 0.14% Not ApplicableNeuflize USA A 1.50% 1.50% 0.18% 0.14% Not ApplicableAAMMF Fund of Mandates Emerging Market EquitiesA-EUR 2.00% 2.00% 0.25% 0.18% Not ApplicableA-USD 2.00% 2.00% 0.25% 0.18% Not ApplicableC-EUR 1.10% 1.02% 0.25% 0.18% Not ApplicableF 1.10% 1.00% 0.25% 0.18% Not ApplicableAAMMF Fund of Mandates Euro Corporate BondsA 1.00% 0.90% 0.18% 0.12% Not ApplicableAH DUR 1.00% 0.90% 0.18% 0.12% Not ApplicableC 0.50% 0.31% 0.18% 0.12% Not ApplicableCH DUR 0.50% 0.31% 0.18% 0.12% Not ApplicableF 0.50% 0.45% 0.18% 0.12% Not ApplicableAAMMF Fund of Mandates Flexible BondsA 1.40% 1.30% 0.25% 0.14% Not ApplicableAH EUR 1.40% 1.30% 0.25% 0.14% Not ApplicableC 0.80% 0.67% 0.25% 0.14% Not ApplicableCH EUR 0.80% 0.67% 0.25% 0.14% Not ApplicableAAMMF Pension Lifecycle 2015A 0.52% 0.10% 0.18% 0.10% Not ApplicableP 0.25% 0.10% 0.18% 0.10% Not Applicable


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Share Class





Performancefee

AAMMF Pension Lifecycle 2020A 0.52% 0.12% 0.18% 0.10% Not ApplicableP 0.25% 0.12% 0.18% 0.10% Not ApplicableAAMMF Pension Lifecycle 2025A 0.52% 0.14% 0.18% 0.10% Not ApplicableP 0.25% 0.14% 0.18% 0.10% Not ApplicableAAMMF Pension Lifecycle 2030A 0.52% 0.15% 0.18% 0.10% Not ApplicableP 0.25% 0.15% 0.18% 0.10% Not ApplicableAAMMF Pension Lifecycle 2035A 0.52% 0.16% 0.18% 0.10% Not ApplicableP 0.25% 0.16% 0.18% 0.10% Not ApplicableAAMMF Pension Lifecycle 2040A 0.52% 0.16% 0.18% 0.10% Not ApplicableP 0.25% 0.16% 0.18% 0.10% Not ApplicableAAMMF Pension Lifecycle 2045A 0.52% 0.16% 0.18% 0.10% Not ApplicableP 0.25% 0.16% 0.18% 0.10% Not ApplicableAAMMF Pension Lifecycle 2050A 0.52% 0.16% 0.18% 0.10% Not ApplicableP 0.25% 0.16% 0.18% 0.10% Not ApplicableAAMMF Pension Lifecycle 2055A 0.52% 0.16% 0.18% 0.10% Not ApplicableP 0.25% 0.16% 0.18% 0.10% Not ApplicableAAMMF Profile 1A 0.60% 0.31% 0.18% 0.14% Not ApplicableI 0.35% 0.30% 0.15% 0.14% Not ApplicableAAMMF Profile 2A 0.75% 0.39% 0.18% 0.14% Not ApplicableProfilfunds A 0.75% 0.74% 0.18% 0.14% Not ApplicableAAMMF Profile 3A 1.25% 0.59% 0.18% 0.14% Not ApplicableI 0.65% 0.55% 0.15% 0.14% Not ApplicableAAMMF Profile 4A 1.25% 0.63% 0.18% 0.14% Not ApplicableProfilfunds B 1.25% 1.23% 0.18% 0.14% Not ApplicableAAMMF Profile 5A 1.35% 0.69% 0.18% 0.14% Not ApplicableAAMMF Profile 6A 1.50% 0.71% 0.18% 0.14% Not ApplicableI 0.75% 0.75% 0.15% 0.14% Not ApplicableProfilfunds C 1.50% 1.41% 0.18% 0.14% Not ApplicableAAMMF Verzekeringen Beleggingsfonds Zeer DefensiefA 0.75% 0.67% 0.18% 0.16% Not ApplicableAAMMF Verzekeringen Beleggingsfonds DefensiefA 0.75% 0.67% 0.18% 0.16% Not ApplicableAAMMF Verzekeringen Beleggingsfonds Matig DefensiefA 0.75% 0.67% 0.18% 0.16% Not ApplicableAAMMF Verzekeringen Beleggingsfonds Matig OffensiefA 0.75% 0.67% 0.18% 0.16% Not ApplicableAAMMF Verzekeringen Beleggingsfonds OffensiefA 0.75% 0.67% 0.18% 0.16% Not ApplicableAAMMF Verzekeringen Beleggingsfonds Zeer OffensiefA 0.75% 0.67% 0.18% 0.16% Not ApplicableAAMMF Global Property IndexA 0.30% 0.20% 0.18% 0.10% Not ApplicableC 0.20% 0.10% 0.18% 0.10% Not ApplicableI 0.20% 0.10% 0.15% 0.10% Not ApplicableNeuflize Global Immobilier A 0.30% 0.20% 0.18% 0.10% Not ApplicableAAMMF Global Sustainable EquitiesA 1.50% 1.30% 0.18% 0.16% Not ApplicableC 0.85% 0.65% 0.18% 0.16% Not ApplicableE 0.50% 0.24% 0.18% 0.16% Not ApplicableF 0.85% 0.65% 0.18% 0.16% Not ApplicableNeuflize Monde ISR A 1.50% 1.50% 0.18% 0.16% Not Applicable


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Share Class





Performancefee

AAMMF Alger US EquitiesA-EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableA-USD 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.61% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableAAMMF Aristotle US EquitiesA-EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableA-USD 1.50% 1.50% 0.18% 0.14% Not ApplicableAH EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.63% 0.18% 0.14% Not ApplicableD 0.85% 0.75% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableI-EUR 0.75% 0.75% 0.15% 0.14% Not ApplicableI-USD 0.75% 0.75% 0.15% 0.14% Not ApplicableIH EUR 0.75% 0.75% 0.15% 0.14% Not ApplicableNeuflize USA Value A 1.50% 1.50% 0.18% 0.14% Not ApplicableAAMMF Edinburgh Partners European EquitiesA 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.73% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableAAMMF Hermes European EquitiesA 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.61% 0.18% 0.14% Not ApplicableF 1.50% 0.75% 0.18% 0.14% Not ApplicableAAMMF Pzena European EquitiesA-EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.63% 0.18% 0.14% Not ApplicableD 0.85% 0.75% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableI 0.75% 0.75% 0.15% 0.14% Not ApplicableNeuflize Europe Value A 1.50% 1.50% 0.18% 0.14% Not ApplicableAAMMF TCW US EquitiesA-EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableA-USD 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.57% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableAAMMF Wellington European EquitiesA 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.74% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableAAMMF Henderson European Smaller Companies EquitiesA 1.75% 1.50% 0.18% 0.14% Not ApplicableC 0.95% 0.85% 0.18% 0.14% Not ApplicableF 0.95% 0.75% 0.18% 0.14% Not ApplicableAAMMF Blackrock Asia Pacific ex-Japan EquitiesA 1.75% 1.65% 0.30% 0.25% Not ApplicableC 0.95% 0.89% 0.30% 0.25% Not ApplicableE 0.50% 0.89% 0.30% 0.25% Not ApplicableF 0.95% 0.85% 0.30% 0.25% Not ApplicableNeuflize Asie A 1.75% 1.65% 0.30% 0.25% Not ApplicableAAMMF Boston Partners US Smaller Companies EquitiesA-EUR 1.75% 1.50% 0.18% 0.14% Not ApplicableA-USD 1.75% 1.50% 0.18% 0.14% Not ApplicableC 0.95% 0.74% 0.18% 0.14% Not ApplicableD 0.95% 0.75% 0.18% 0.14% Not ApplicableF 0.95% 0.75% 0.18% 0.14% Not ApplicableAAMMF Loomis US EquitiesA-EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableA-USD 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.57% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableAAMMF Pzena US EquitiesA-EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableA-USD 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.74% 0.18% 0.14% Not ApplicableD 0.85% 0.75% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not Applicable


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Share Class





Performancefee

AAMMF Schroder Euro Corporate BondsA 1.00% 0.90% 0.18% 0.12% Not ApplicableC 0.50% 0.30% 0.18% 0.12% Not ApplicableCH DUR 0.50% 0.30% 0.18% 0.12% Not ApplicableF 0.50% 0.45% 0.18% 0.12% Not ApplicableNeuflize Euro Corporate A 1.00% 1.00% 0.18% 0.12% Not ApplicableAAMMF Insight Euro Corporate BondsA 1.00% 0.90% 0.18% 0.12% Not ApplicableC 0.50% 0.27% 0.18% 0.12% Not ApplicableF 0.50% 0.45% 0.18% 0.12% Not ApplicableAAMMF Investec Emerging Market EquitiesA-EUR 2.00% 2.00% 0.25% 0.18% Not ApplicableA-USD 2.00% 2.00% 0.25% 0.18% Not ApplicableC-EUR 1.10% 1.10% 0.25% 0.18% Not ApplicableC-USD 1.10% 1.10% 0.25% 0.18% Not ApplicableF 1.10% 1.00% 0.25% 0.18% Not ApplicableAAMMF Henderson European EquitiesA 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.64% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not ApplicableAAMMF Numeric Emerging Market EquitiesA-EUR 2.00% 2.00% 0.25% 0.18% Not ApplicableA-USD 2.00% 2.00% 0.25% 0.18% Not ApplicableC-EUR 1.10% 0.92% 0.25% 0.18% Not ApplicableC-USD 1.10% 0.92% 0.25% 0.18% Not ApplicableD 1.10% 1.00% 0.25% 0.18% Not ApplicableF 1.10% 1.00% 0.25% 0.18% Not ApplicableI-USD 1.00% 1.00% 0.20% 0.18% Not ApplicableAAMMF William Blair Emerging Market EquitiesA-EUR 2.00% 2.00% 0.25% 0.18% Not ApplicableA-USD 2.00% 2.00% 0.25% 0.18% Not ApplicableC-EUR 1.10% 1.02% 0.25% 0.18% Not ApplicableC-USD 1.10% 1.02% 0.25% 0.18% Not ApplicableF 1.10% 1.00% 0.25% 0.18% Not ApplicableAAMMF Verrazzano Europe Long ShortA 2.00% 2.00% 0.30% 0.25% ApplicableC 1.50% 1.50% 0.30% 0.25% ApplicableF 1.50% 1.50% 0.30% 0.25% ApplicableI 1.50% 1.50% 0.30% 0.25% ApplicableNeuflize Europe Long Short C 1.45% 1.45% 0.30% 0.30% ApplicableNeuflize Europe Long Short SC 0.45% 0.45% 0.30% 0.30% ApplicableAAMMF Kempen Euro Corporate BondsA 1.00% 0.90% 0.18% 0.12% Not ApplicableAH DUR 1.00% 0.90% 0.18% 0.12% Not ApplicableC 0.50% 0.30% 0.18% 0.12% Not ApplicableCH DUR 0.50% 0.30% 0.18% 0.12% Not ApplicableF 0.50% 0.45% 0.18% 0.12% Not ApplicableAAMMF Comfort Invest IIB 1.05% 0.30% 0.18% 0.14% Not ApplicableAAMMF Comfort Invest IIIB 1.05% 0.30% 0.18% 0.14% Not ApplicableAAMMF Comfort Invest IVB 1.05% 0.30% 0.18% 0.14% Not ApplicableAAMMF Blackrock Euro Government BondsC 0.50% 0.18% 0.18% 0.08% Not ApplicableAAMMF Natixis Euro Government BondsC 0.50% 0.18% 0.18% 0.08% Not ApplicableAAMMF Insight Euro Government BondsC 0.50% 0.20% 0.18% 0.08% Not ApplicableAAMMF European EquitiesI 0.75% 0.75% 0.15% 0.14% Not ApplicableAAMMF Edentree European Sustainable EquitiesA 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.65% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not Applicable


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Share Class





Performancefee

AAMMF Parnassus US Sustainable EquitiesA-EUR 1.50% 1.50% 0.18% 0.14% Not ApplicableC 0.85% 0.84% 0.18% 0.14% Not ApplicableF 0.85% 0.75% 0.18% 0.14% Not Applicable

7. Statements of investment changesStatements of investment changes are available to Shareholders, free ofcharge, on request from the SICAV’s registered office.

8. Transaction costsFor the period ended 30 June 2017, the SICAV incurred transactioncosts included in the acquisition cost (composed of broker fees, stampsduties and custody fees in relation to transaction costs) relating to

purchases of securities and/or other eligible assets or deducted from thesales proceeds of these assets. Those amounts are recorded in thestatement of changes in net assets under the caption “Realized results oninvestments” and “Net change in unrealized on investments”.

The transaction costs recorded by the SICAV for the period 1 January 2017 until 30 June 2017 amount as follows:

Sub-fund Currency Transaction costs

AAMMF Fund of Mandates Asia-Pacific Equities USD 598,385

AAMMF Fund of Mandates Euro Government Bonds EUR 6

AAMMF Fund of Mandates European Equities EUR 881,498

AAMMF Fund of Mandates North American Equities USD 347,493

AAMMF Fund of Mandates Emerging Market Equities USD 303,968

AAMMF Fund of Mandates Euro Corporate Bonds EUR -

AAMMF Fund of Mandates Flexible Bonds USD -

AAMMF Pension Lifecycle 2015 EUR 1,505








AAMMF Pension Lifecycle 2055 EUR 18

AAMMF Profile 1 EUR -

AAMMF Profile 2 EUR 69,500





AAMMF Verzekeringen Beleggingsfonds Zeer Defensief EUR 4,122

AAMMF Verzekeringen Beleggingsfonds Defensief EUR 2,403

AAMMF Verzekeringen Beleggingsfonds Matig Defensief EUR 29,618

AAMMF Verzekeringen Beleggingsfonds Matig Offensief EUR 67,378

AAMMF Verzekeringen Beleggingsfonds Offensief EUR 41,725

AAMMF Verzekeringen Beleggingsfonds Zeer Offensief EUR 46,900

AAMMF Global Property Index EUR 7

AAMMF Global Sustainable Equities EUR 116,266

AAMMF Alger US Equities USD 86,977

AAMMF Aristotle US Equities USD 232,579

AAMMF Edinburgh Partners European Equities EUR 275,144

AAMMF Hermes European Equities EUR 140,925

AAMMF Pzena European Equities EUR 857,603

AAMMF TCW US Equities USD 121,217

AAMMF Wellington European Equities EUR 248,868

AAMMF Henderson European Smaller Companies Equities EUR 53,361


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Sub-fund Currency Transaction costs

AAMMF Blackrock Asia Pacific ex-Japan Equities USD 225,765

AAMMF Boston Partners US Smaller Companies Equities USD 20,649

AAMMF Loomis US Equities USD 30,393

AAMMF Pzena US Equities USD 402,695

AAMMF Schroder Euro Corporate Bonds EUR -

AAMMF Insight Euro Corporate Bonds EUR -

AAMMF Investec Emerging Market Equities USD 275,472

AAMMF Henderson European Equities EUR 326,678

AAMMF Numeric Emerging Market Equities USD 469,509

AAMMF William Blair Emerging Market Equities USD 236,859

AAMMF Verrazzano Europe Long Short EUR 95,833

AAMMF Kempen Euro Corporate Bonds EUR -

AAMMF Comfort Invest II EUR 736

AAMMF Comfort Invest III EUR 4,559

AAMMF Comfort Invest IV EUR 4,910

AAMMF Blackrock Euro Government Bonds EUR 5

AAMMF Natixis Euro Government Bonds EUR -

AAMMF Insight Euro Government Bonds EUR -

AAMMF European Equities EUR 7,169

AAMMF Edentree European Sustainable Equities EUR 212,810

AAMMF Parnassus US Sustainable Equities USD 7,944

9. Change in the composition of the securities portfolioThe list of changes to the composition of the securities portfolio during the period is available free of charge at the Management Company’s registeredoffice and from local agents.


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Information concerning the remuneration policy:

European Directive 2014/91/EU amending Directive 2009/65/EC on undertakings for collective investment in transferable securities, which isapplicable to the fund, came into force on 18 March 2016. It is implemented in national law under the Luxembourg Act of 10 May 2016 implementingDirective 2014/91/EU. Due to these new regulations, the fund is required to publish information relating to the remuneration of identified employeeswithin the meaning of the Act in the annual report. The management company will have such remuneration-related information by the time of the nextannual financial statements so that this information will be included in the fund’s next annual report. It is expected that the management company’sremuneration policy will be available on the below website in early August 2016:https://www.abnamroinvestmentsolutions.fr/fr/informations-reglementaires

INFORMATION TO SHAREHOLDERS (UNAUDITED)

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ABN AMRO MULTI-MANAGER FUNDS - Fundsquare

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