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Credit Suisse SICAV One (Lux)

Unaudited Semi-Annual Reportat 30.11.2011

Investment Company with Variable Capital under Luxembourglaw - R.C.S. Luxembourg B 124 019

Credit Suisse SICAV One (Lux) • Unaudited Semi-Annual Report at 30.11.2011

Table of Contents

Management and Administration 3

Consolidated Report 4

Report by SubfundCredit Suisse SICAV One (Lux) Challenger (Euro) 8Credit Suisse SICAV One (Lux) Challenger (Sfr) 12Credit Suisse SICAV One (Lux) CommodityAllocation 16Credit Suisse SICAV One (Lux) Defender (Euro) 23Credit Suisse SICAV One (Lux) Defender (Sfr) 27Credit Suisse SICAV One (Lux) Equity Asian Dragon 31Credit Suisse SICAV One (Lux) Equity Eurozone 35Credit Suisse SICAV One (Lux) Equity Global Emerging Markets 39Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property 44Credit Suisse SICAV One (Lux) Equity Japan Value 49Credit Suisse SICAV One (Lux) European Equity Dividend Plus 53Credit Suisse SICAV One (Lux) Global Convertibles 59Credit Suisse SICAV One (Lux) Global Equity Dividend Plus 67Credit Suisse SICAV One (Lux) Global Tactical Asset Allocation (GTAA) VaR 10% 73Credit Suisse SICAV One (Lux) IndexSelection Balanced (Euro) 74Credit Suisse SICAV One (Lux) IndexSelection Balanced (Sfr) 78Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented (Euro) 82Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented (Sfr) 86Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Euro) 90Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Sfr) 94Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short 98


Management and Administration

Company

Credit Suisse SICAV One (Lux) 5, rue Jean Monnet, L-2180 Luxembourg R.C.S. Luxembourg B 124 019

Board of Directors of the Company

Luca Diener, Member of the Board Managing Director, Credit Suisse AG, Zurich Germain Trichies, Member of the Board Director, Credit Suisse Fund Management S.A., Luxemburg Guy Reiter, Member of the Board Director, Credit Suisse Fund Management S.A., Luxemburg

Auditor of the Company

PricewaterhouseCoopers S.à r.l. 400, Route d'Esch L-1471 Luxembourg

Management Company

Credit Suisse Fund Management S.A. 5, rue Jean Monnet, L-2180 Luxembourg R.C.S. Luxembourg B 72 925

Board of Directors of the Management Company

Jean-Paul Gennari, Member of the Board Credit Suisse Fund Services (Luxembourg) S.A., Luxemburg Petra Reinhard Keller, Member of the Board Managing Director, Credit Suisse Asset Management Funds AG, Zurich Luca Diener, Member of the Board Managing Director, Credit Suisse AG, Zurich Germain Trichies, Member of the Board Director, Credit Suisse Fund Management S.A., Luxemburg Guy Reiter, Member of the Board Credit Suisse Fund Management S.A., Luxemburg

Auditor of the Management Company

KPMG Audit S.à r.l. (until 30.09.2011) KPMG Luxembourg S.à r.l. (since 01.10.2011) 9, Allée Scheffer, L-2520 Luxemburg

Representative in Switzerland

Credit Suisse Asset Management Funds AG (until 25.08.2011) Credit Suisse Funds AG (since 26.08.2011) Sihlcity - Kalandergasse 4, CH-8070 Zurich

Paying Agent in Switzerland

Credit Suisse AG Paradeplatz 8, CH-8001 Zurich

Paying and Information Agent in Germany

Deutsche Bank AG Taunusanlage 12, D-60325 Frankfurt/Main

Information Agent in Germany

Credit Suisse (Deutschland) AG Junghofstrasse 16, D-60311 Frankfurt/Main

Paying Agent in Austria

UniCredit Bank Austria AG Schottengasse 6-8, A-1010 Vienna

Paying Agent in the Principality of Liechtenstein

LGT Bank in Liechtenstein Aktiengesellschaft Herrengasse 12, FL-9490 Vaduz

Custodian Bank

Credit Suisse (Luxembourg) S.A. 56, Grand-Rue, L-1660 Luxembourg

Distribution Agents

Credit Suisse AG Paradeplatz 8, CH-8001 Zurich Credit Suisse Fund Services (Luxembourg) S.A., Luxemburg 5, rue Jean Monnet, L-2180 Luxembourg

Investment Adviser

Credit Suisse AG Paradeplatz 8, CH-8001 Zurich

- Credit Suisse SICAV One (Lux) Challenger (Euro) - Credit Suisse SICAV One (Lux) Challenger (Sfr) - Credit Suisse SICAV One (Lux) CommodityAllocation - Credit Suisse SICAV One (Lux) Defender (Euro) - Credit Suisse SICAV One (Lux) Defender (Sfr) - Credit Suisse SICAV One (Lux) Equity Eurozone - Credit Suisse SICAV One (Lux) Equity Global Emerging Markets - Credit Suisse SICAV One (Lux) Equity Global Emerging Market

Property - Credit Suisse SICAV One (Lux) European Equity Dividend Plus - Credit Suisse SICAV One (Lux) Equity Japan Value - Credit Suisse SICAV One (Lux) Global Convertibles - Credit Suisse SICAV One (Lux) Global Equity Dividend Plus - Credit Suisse SICAV One (Lux) IndexSelection Balanced (Euro) - Credit Suisse SICAV One (Lux) IndexSelection Balanced (Sfr) - Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented

(Euro) - Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented

(Sfr) - Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Euro) - Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Sfr) - Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short

Credit Suisse AG, Singapore Branch

- Credit Suisse SICAV One (Lux) Equity Asia Dragon

Central Administration

Credit Suisse Fund Services (Luxembourg) S.A., Luxemburg 5, rue Jean Monnet, L-2180 Luxembourg No subscription may be accepted on the basis of the financial reports. Subscriptions are accepted only on the basis of the current sales prospectus accompanied by the simplified Prospectus, the latest annual report and the latest semi-annual report (if it is more recent). The issue and redemption prices are published in Luxembourg at the registered office of the Management Company. The net asset value is also published daily on the Internet www.credit-suisse.com and in different newspapers. Shareholders may obtain the Sales Prospectus, the simplified Prospectus, the latest annual and semi-annual reports, the changes in the composition of the securities portfolio during the reporting period and copies of the Management Regulations free of charge from the registered office of the Management Company, the local representatives in the countries where the Fund is registered or the Paying and Information Agent in Germany.


Consolidated Report

Statement of Net Assets in CHF

30.11.2011

Assets

Investments in securities at market value 1,927,946,309.37Cash at banks 66,561,428.01Subscriptions receivable 646,020.25Income receivable 4,454,143.50Formation expenses 287,153.13Other assets 10,293,003.12

2,010,188,057.38

Liabilities

Due to banks 15,878,182.78Redemptions payable 2,003,720.80Provisions for accrued expenses 1,987,365.08Other liabilities 9,130,919.27

29,000,187.93

Net assets 1,981,187,869.45

The notes are an integral part of the financial statements.


Income

Interest on investments in securities (net) 2,027,885.52Dividends (net) 18,365,297.85Bank interest 90,720.55Other income 1,196,640.47

21,680,544.39

Expenses

Management fee 12,992,989.74Custodian and safe custody fees 767,297.74Administration expenses 1,182,918.29Printing and publication expenses 172,479.11Interest and bank charges 8,906.83Audit, control, legal, representative bank and other expenses 529,751.80"Taxe d'abonnement" 258,523.51Amortisation of formation expenses 46,797.51

15,959,664.53

Net income (loss) 5,720,879.86

Realised gain (loss)

Net realised gain (loss) on sales of investments -213,680,871.92Net realised gain (loss) on financial futures contracts 9,589,440.87Net realised gain (loss) on swap contracts -128,916,807.71Net realised gain (loss) on forward foreign exchange contracts 2,137,369.16Net realised gain (loss) on foreign exchange -1,661,392.29

-332,532,261.89

Net realised gain (loss) -326,811,382.03

Change in net unrealised appreciation (depreciation)

Change in net unrealised appreciation (depreciation) on investments -231,171,516.90Change in net unrealised appreciation (depreciation) on financial futures contracts 3,153,992.01Change in net unrealised appreciation (depreciation) on swap contracts 9,873,470.93Change in net unrealised appreciation (depreciation) on forward foreign exchange contracts -19,379,140.77

-237,523,194.73

Net increase (decrease) in net assets as a result of operations -564,334,576.76

Subscriptions / Redemptions

Subscriptions 1,098,904,437.26Redemptions -1,639,741,492.98

-540,837,055.72

Distribution -16,730.25


Consolidated Report

Statement of Operations in CHF

For the period from01.06.2011 to

30.11.2011


Consolidated Report

Notes

General

Credit Suisse SICAV One (Lux) ("the Company") is a Luxembourg investment company with variable capital (SICAV). The Company has an umbrella structure and was established on 05.02.2007 in Luxembourg as an undertaking for collective investment under Part I of the law of 20.12.2002. As of 30.11.2011 the Company had 20 subfunds. Changes: - Credit Suisse SICAV One (Lux) Global Tactical Asset Allocation (GTAA) VaR

10%: the Investment Company has decided to liquidate the subfund, as its current volume of total net assets no longer allow the subfund to be effectively managed. The net liquidation proceeds were calculated on 07.06.2011 (dated 06.06.2011).

- Credit Suisse SICAV One (Lux) Equity Eurozone -B- and -I- were launched on 27.06.2011.

- As per 01.06.2011 the management fee was reduced from 1.92% to 1.60% for the following classes: Credit Suisse SICAV One (Lux) European Equity Dividend Plus -A-, -B-, -R- CHF and Credit Suisse SICAV One (Lux) Global Equity Dividend Plus -A-, -B-, -R- CHF.

- Credit Suisse SICAV One (Lux) Commodity Allocation -S- EUR was launched on 18.07.2011.

- Credit Suisse SICAV One (Lux) Commodity Allocation -T- EUR and –T- CHF were launched on 12.08.2011.

- Credit Suisse SICAV One (Lux) Global Equity Dividend Plus -S- CHF was launched on 21.07.2011.

Summary of significant accounting policies

a) Presentation of financial statements The financial statements are presented in accordance with the requirements of the Luxembourg supervisory authorities. b) Computation of the net asset value of each subfund The net asset value of the Shares of each subfund shall be calculated in the reference currency of the respective subfund and shall be determined under the responsibility of the Company’s Board of Directors in Luxembourg on each banking day in Luxembourg (each such day being referred to as a “Valuation Day”). A banking day is defined as being a day on which banks are normally open for business in Luxembourg. The financial statements reflect the net asset values as calculated on 30.11.2011 based on the market prices of the investments as of 30.11.2011. c) Valuation of investment securities of each subfund Securities which are listed or regularly traded on a stock exchange shall be valued at the last available purchase price. If such a price is not available for a particular trading day, but a closing mid-price (the mean of the closing bid and ask prices) or a closing bid price is available, the closing mid-price, or alternatively the closing bid price, may be taken as a basis for the valuation. If a security is traded on several stock exchanges, the valuation shall be made by reference to the exchange on which the security is chiefly traded. In the case of securities for which trading on a stock exchange is not significant whereas a secondary market with regulated trading among securities dealers does exist (with the effect that the price is set on a market basis), the valuation may be based on this secondary market. Securities traded on a regulated market shall be valued in the same way as securities listed on a stock exchange. Securities that are neither listed on a stock exchange nor traded on a regulated market shall be valued at their last available market price. If no such price is available, the Company shall value these securities in accordance with other criteria to be established by the Board of Directors and on the basis of the probable sales price, the value of which shall be estimated with due care and in good faith. The valuation price of a money market instrument shall be progressively adjusted to the redemption price, based on the net acquisition price and keeping the resultant investment yield constant. In the event of a significant change in market conditions, the basis for the valuation of different investments shall be brought into line with the new market yields. If a valuation in accordance with the above rules is rendered impossible or incorrect owing to special or changed circumstances, then the Company’s Board of Directors shall be entitled to use other generally recognized and auditable valuation principles in order to value the subfund’s assets.

In exceptional circumstances, further valuations may be carried out on the same day; such valuations will be valid for any applications for purchase and/or redemption subsequently received. d) Net realised gain/loss on sales of investments of each subfund The realised gains or losses on the sales of securities are calculated on the basis of the average acquisition cost. e) Foreign exchange conversion The financial statements are kept in the reference currency of each subfund and the consolidated financial statements are kept in CHF. Cash at banks, other net assets and the value of portfolio securities in currencies other than the reference currency of each subfund are converted into the reference currency at the foreign exchange rate prevailing on the date of valuation. Income and expenses in currencies other than the reference currency of each subfund are converted into the reference currency at the foreign exchange rate applicable at the date they accrue to the subfund. Realised gains or losses on foreign currencies are accounted for in the statement of operations. The acquisition cost of securities in currencies other than the reference currency of each subfund is converted into the reference currency at the foreign exchange rate valid at the date of acquisition. f) Transactions on investments in securities of each subfund The transactions on investments in securities are booked on a trade date basis. g) Formation expenses of each subfund Formation expenses are amortised over a period of five years. h) Valuation of financial futures contracts of each subfund Unmatured financial future contracts are valued at valuation date at market prices prevailing at this date and resulting unrealised gains or losses are posted to the statement of operations and are shown under other assets/liabilities in the statement of net assets. i) Valuation of forward foreign exchange contracts of each subfund Unmatured forward foreign exchange contracts are valued at valuation date at forward exchange rates prevailing at this date and resulting unrealised gains or losses are posted to the statement of operations and are shown under other assets/liabilities in the statement of net assets. j) Valuation of swaps On each valuation day, swap agreements are valued at the net present value of the future cash flows, using the relevant interest rate yield curve on valuation day. Asset swaps and the securities linked to the asset swaps are not revalued as the security and the asset swap are considered for the purpose of the valuation as a single instrument. For the valuation of excess return swaps and total return swaps, the relevant underlying is taken into account. The resulting unrealised gains or losses are shown under other assets/liabilities in the statement of net assets. k) Valuation of contract for differences of each subfund Unmatured contracts for difference are valued at valuation date at market prices prevailing at this date and resulting unrealised gains or losses are posted to the statement of operations under "Change in net unrealised appreciation (depreciation) on financial futures contracts" and are shown under other assets/liabilities in the statement of net assets. Realised gains or losses are also posted to the statement of operations under "Net realised gain (loss) on financial futures contracts". l) Allocation of accrued expenses Accrued expenses which can be allocated directly to a subfund are charged to this subfund. Accrued expenses which cannot be allocated directly are divided among the subfunds in proportion to the net assets of each subfund. m) Securities Lending The Company can practise lending of securities included in its portfolios of its subfunds. The Company may only lend securities within a standardized system of securities lending organised by a recognised institution of securities compensation or by first class financial institutions specialised in this type of operations. n) Income recognition Dividends are recorded on ex-dividend date, net of withholding tax. Interests are accrued on a daily basis.


Consolidated Report

Notes

o) Other income The trailer commissions received during the period/year are accounted under “Other income”. p) Units or shares in UCI shall be valued on the basis of their most recently calculated net asset value, where necessary taking due account of the redemption fee. Where no net asset value and only buy and sell prices are available for units or shares in UCI, the units/shares in such UCI may be valued at the mean of such buy and sell prices. q) Fiduciary and fixed-term deposits shall be valued at their respective nominal value plus accrued interest.

Management fee (see detail at subfund level)

As remuneration for its services and reimbursement of its expenses, the Management Company is entitled to a monthly management fee, payable at the end of each month and calculated on the basis of the average of the daily net asset value of the relevant unit class during the that month. In addition to the management fee, the Management Company is entitled to a performance fee. Credit Suisse SICAV One (Lux) Challenger (Euro), Credit Suisse SICAV One (Lux) Challenger (Sfr), Credit Suisse SICAV One (Lux) Defender (Euro), Credit Suisse SICAV One (Lux) Defender (Sfr), Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short.

"Taxe d'abonnement"

Under the prevailing laws and regulations, the Company is subject in Luxembourg, on the basis of its investments, to a "taxe d'abonnement" at the annual rate of 0.05%, payable quarterly and calculated on the basis of the net assets of each subfund at the end of each quarter. The portion of net assets, which is invested in other undertakings for collective investment in securities under Luxembourg law, is exempt from this tax. Exception: 0.01% for -D-, -F- and -T- classes.

Total Expense Ratio (TER) (see detail at subfund level)

The TER expresses the sum of all costs and commissions charged on an ongoing basis to the respective subfund, taken retrospectively as a percentage of these assets. If a subfund invests at least 10% of its net assets as a fund of fund in target funds, a composite TER of the fund of funds is to be calculated as follows: The prorated TER of the individual target funds including a performance related remuneration, weighted according to the share they represent in the overall assets of the fund of funds as of the closing date and the TER of the fund of funds minus the retroceded commissions received from the target funds during the reporting year. The TER is calculated following the SFA guideline.

Portfolio Turnover Rate (PTR) (see detail at subfund level)

The PTR is used as the indicator for the fund’s trading activities (excluding purchases and sales resulting from subscriptions and buybacks) and is expressed as a percentage of the average net assets of the fund during the preceding twelve-month period. The PTR is calculated following the SFA guideline.

Changes in the composition of the securities portfolio

Changes in the composition of the securities portfolio during the reporting period/year are available to Shareholders free of charge at the registered office of the Company or the local representatives in the countries where the Company is registered.

Exchange Rates

The consolidated financial statements are kept in CHF. For this purpose, the financial statements of the subfunds are converted into CHF at the foreign exchange rates as of 30.11.2011:

- 1 EUR = 1.225200 CHF - 1 USD = 0.910151 CHF - 1 JPY = 0.011724 CHF

Fund performance (see detail at subfund level)

The performance is based on the net asset values as calculated on the last business day of the year. Those net asset values reflect the market prices of the investments as of the last business day of the year. Historical performance is no indicator of current or future performance. The performance data given does not take into account commissions and costs incurred in the purchase or redemption of fund shares. For shares launched more than 3 years ago no performance since inception is disclosed. Performance of distributing shares includes reinvestments of dividends.

Management fee of target funds

ISIN DenominationManagement Fee in %

LU0392496427 COMSTAGE ETF SICAV- COMSTAGE ETF SMI i 0.25CH0019852802 CS ETF (CH) on SMIM(r) 0.45IE00B53L4350 CS ETF (IE) on DOW JONES INDUSTRIAL 0.22IE00B3VTMJ91 CS ETF (IE) on iBoxx EUR GOVT 1-3 ETF 0.12IE00B53QG562 CS ETF (IE) on MSCI EMU 0.20IE00B53QDK08 CS ETF (IE) on MSCI JAPAN 0.36IE00B53SZB19 CS ETF (IE) on NASDAQ 100 0.17IE00B5BMR087 CS ETF (IE) on S&P 500 0.09LU0254097446 CS ETF (Lux) on MSCI Emerging Markets 0.45LU0449425007 CS FD SBI FOREIGN CORPORATE -f- (CHF) 0.20LU0449423721 CS FD SBI FOREIGN GOVERN. 1-5 -f- (CHF) 0.20LU0449424539 CS FD SBI FOREIGN GOVERN. 5+ -f- (CHF) 0.20LU0337322878 CS SOLUT (LUX) DOW JONES CS ALLHEDGE rc 1.00LU0337322522 CS SOLUT (LUX) DOW JONES CS rch 1.00LU0292097747 DB X-TRACKERS FTSE ALL-SHARE ETF 1d 0.30LU0274221281 DB X-TRACKERS SMI ETF 1d 0.20LU0290357929 DBX TRACKERS II IBOXX GBL INF-LKD 1c 0.15LU0192223062 EASYETF FTSE EPRA EUROZONE 0.45DE000ETFL060 ETFLAB DAX 0.15DE000ETFL359 ETFLAB IBOXX EUR LIQUID GERMANY COVERED 0.09DE000A0YEEY2ISHARES BARCLAYS CAP EUR CORP. BOND 1-5 0.20DE000A0YEEX4ISHARES BARCLAYS CAP EURO CORP BD EX-FIN 0.20DE0002511243 ISHARES EURO CORPORATE BOND 0.15IE00B2NPKV68 ISHARES JP MORGAN EMERGING MKTS BOND FD 0.45IE00B66F4759 ISHARES MARKIT IBOXX EUR HIGH YIELD BOND 0.50IE00B3F81G20 ISHARES MSCI EMERGING MARKETS SMALLCAP 0.74DE0005933923 MDAX EX 0.50US78355W1062 RYDEX ETF S&P 500 EQUAL WEIGHTED INDX FD 0.40IE00B4613386 SPDR BARCLAYS CAP EMER MKT LOC BOND ETF 0.55IE00B2RHVR18 VANGUARD INVEST GLOBAL BOND INDEX FD chf 0.25


Credit Suisse SICAV One (Lux) Challenger (Euro)

Technical Data and Notes

EURB 2900785 LU0285060587 1.50% 1.42%Capitalisation -

Valoren ISIN Management Fee Total Expense Ratio

Technical Data

EURB 2.61% -2.24%-7.06%/-3.80%Capitalisation - 2009 2008YTD 2010Since Inception

Fund Performance

For the period from 01.12.2010 to 30.11.2011, the Portfolio Turnover Rate was 69.32%.

Notes

As of 30.11.2011 the subfund participated in the "securities lending" - system for a global market value of EUR 520,463.00.

Securities Lending

EURDJ EURO STOXX 50 INDEX FUTURE -10- 12/11 -10 -232,600.00 -29,160.00USDE-MINI MSCI EMERG MKTS INDEX -50- 12/11 -13 -626,275.00 434.57USDS&P 500 E-MINI INDEX FUTURE -50- 12/11 -7 -436,100.00 -24,375.07

-53,100.50Unrealised loss on futures contracts

Quantity EngagementDescription Currency Valuation(in EUR)

Financial futures contracts

743,108EUR USD -1,000,000 -69.5523.12.2011Credit Suisse Zürich

96,660EUR JPY -10,000,000 913.9622.12.2011Credit Suisse Zürich

10,000,000JPY EUR -96,246 -500.4822.12.2011Credit Suisse Zürich

343.93Unrealised gain on forward foreign exchange contracts

SalesPurchases Valuation(in EUR)

MaturityCounterparty

Forward foreign exchange contracts


Assets

Investments in securities at market value 8,408,105.19Cash at banks 1,243,188.66Income receivable 119,774.94Other assets 343.93

9,771,412.72

Liabilities

Due to banks 0.43Provisions for accrued expenses 13,215.70Other liabilities 53,100.50

66,316.63

9,705,096.09Net assets

Statement of Net Assets in EUR and Fund Evolution

30.11.2011

88.25 91.43EURB 91.92Capitalisation -

Total net assets

Net asset value per share

9,705,096.09 11,252,306.17 21,039,987.82EUR

Fund Evolution 30.11.2011 31.05.2011 31.05.2010

109,969.195 0.000B 122,410.525 12,441.330Capitalisation - EUR

Number of shares outstanding at the endof the period

at the beginningof the period

Number of shares issued

Number of shares redeemed





Net assets at the beginning of the period 11,252,306.17

Income

Interest on investments in securities (net) 88,871.13Dividends (net) 22,279.85Bank interest 2,302.57Other income 1,138.60

114,592.15

Expenses

Management fee 64,179.25Custodian and safe custody fees 2,349.71Administration expenses 3,555.00Printing and publication expenses 608.38Audit, control, legal, representative bank and other expenses 5,698.73"Taxe d'abonnement" 2,054.43

78,445.50

Net income (loss) 36,146.65


Net realised gain (loss) on sales of investments -174,408.61Net realised gain (loss) on financial futures contracts 45,724.20Net realised gain (loss) on forward foreign exchange contracts -83,378.25Net realised gain (loss) on foreign exchange 20,504.59

-191,558.07

Net realised gain (loss) -155,411.42


Change in net unrealised appreciation (depreciation) on investments -212,784.86Change in net unrealised appreciation (depreciation) on financial futures contracts -53,100.50Change in net unrealised appreciation (depreciation) on forward foreign exchange contracts -12,871.84

-278,757.20

Net increase (decrease) in net assets as a result of operations -434,168.62


Subscriptions 0.00Redemptions -1,113,041.46

-1,113,041.46

Net assets at the end of the period 9,705,096.09

Statement of Operations / Changes in Net Assets in EUR


30.11.2011


The notes are an integral part of the financial statements.Any differences in the percentage of Net Assets are the result of roundings.



Breakdown by Country and Economic Sector of the Investments in SecuritiesStatement of Investments in Securities and Other Net Assets

13.22LuxembourgBreakdown by Country

11.70Ireland11.46Austria10.98Netherlands9.21France8.23United Kingdom7.55Canada6.31Germany2.78Switzerland2.62Jersey2.58Int. organisations

86.64Total

29.88Banks and other credit institutionsBreakdown by Economic Sector

24.92Investment trusts/funds7.55Cantons, federal states, provinces6.83Financial, investment and other div. companies5.37Telecommunication3.51Pharmaceuticals, cosmetics and medical products3.11Miscellaneous services2.89Energy and water supply2.58Supranational organisations

86.64Total

Statement of Investments in Securities and Other Net Assets

DescriptionQuantity /

NominalValuation % of net

assets(in EUR)

Securities listed on a stock exchange or other organised markets: Bonds

Bonds

EUR ASFINAG 3.125%/05-06.10.2015 400,000 409,216.00 4.21EUR BARCLAYS BANK (reg. -S-) FRN 09-28.01.2013 250,000 248,175.00 2.56EUR EIB 2.5%/10-15.07.2015 250,000 250,350.00 2.58EUR FRANCE TELECOM 4.375%/07-21.02.2012 250,000 251,325.00 2.59EUR KFW 1.125%/10-23.03.2012 300,000 300,420.00 3.10EUR KOMMUNALKREDIT AUSTRIA 2.25%/10-

24.03.2014400,000 401,320.00 4.14

EUR LANDESBANK BADEN-WUERTTEMBERGFOERDERBANK 4.125%/08-15.04.2013

300,000 311,850.00 3.21

EUR NATIONAL GRID FRN 06-18.01.2012 280,000 280,162.40 2.89EUR NEDERLANDSE WATERSCHAPSBANK 4%/03-

12.03.2013300,000 309,930.00 3.19

EUR OEKB 4.125%/07-21.02.2012 300,000 301,680.00 3.11EUR ONTARIO 4.25%/08-11.12.2013 350,000 370,363.00 3.82EUR QUEBEC 4.25%/03-27.02.2013 350,000 362,145.00 3.73EUR RABOBANK 3%/10-16.02.2015 400,000 405,560.00 4.17EUR SANOFI 3.5%/09-17.05.2013 330,000 340,362.00 3.51EUR SNS BANK 2.875%/09-30.01.2012 350,000 350,973.00 3.62EUR UBS JERSEY BRANCH FRN 07-18.04.2012 270,000 269,622.00 2.78EUR UNEDIC 2.125%/09-03.12.2012 300,000 301,710.00 3.11EUR VODAFONE GROUP FRN 06-13.01.2012 270,000 270,183.60 2.78

Securities listed on a stock exchange or other organised markets:Bonds 5,735,347.00 59.10

Bonds 5,735,347.00 59.10

Securities listed on a stock exchange or other organised markets: Investment funds

Fund units (Open-End)

EUR CS ETF (IE) on MSCI EMU 7,400 416,143.44 4.29GBP CS ETF (IE) on MSCI UK 2,000 149,062.74 1.54USD CS ETF (IE) on S&P 500 7,100 570,949.39 5.87USD CS ETF (Lux) on MSCI Emerging Markets 7,300 517,770.46 5.34EUR DB X-TRACKERS DJ EURO STOXX 50 ETF -1D- 12,000 283,440.00 2.92EUR DB X-TRACKERS SICAV - DAX ETF -1C- 2,000 121,040.00 1.25

Securities listed on a stock exchange or other organised markets:Investment funds 2,058,406.03 21.21

Fund units (Open-End) 2,058,406.03 21.21

Securities not listed on a stock exchange: Investment funds


EUR CS FIXED INCOME SICAV-SIF GLOBAL ASSETBACKED SECURITIES -T- EUR

2,000 231,400.00 2.39

EUR CS FIXED INCOME SICAV-SIF GLOBALEMERGING MARKETS BONDS -T- EUR

1,200 128,352.00 1.32

Securities not listed on a stock exchange: Investment funds 359,752.00 3.71

Fund units (Open-End) 359,752.00 3.71

Securities listed on a stock exchange or other organised markets: Certificates

Certificates

USD ETFS METAL SECURITIES PHYSICAL GOLD 2,000 254,600.16 2.62

Securities listed on a stock exchange or other organised markets:Certificates 254,600.16 2.62

Certificates 254,600.16 2.62

Total of Portfolio 8,408,105.19 86.64

Cash at banks 1,243,188.66 12.81

Due to banks -0.43 /

Other net assets 53,802.67 0.55

Total net assets 9,705,096.09 100.00


Credit Suisse SICAV One (Lux) Challenger (Sfr)


CHFB 2900807 LU0285061981 1.50% 1.45%Capitalisation -


Technical Data

CHFB 1.49% -3.38%-8.00%/-5.65%Capitalisation - 2009 2008YTD 2010Since Inception

Fund Performance


Notes

EURDJ EURO STOXX 50 INDEX FUTURE -10- 12/11 -7 -162,820.00 -28,044.83USDE-MINI MSCI EMERG MKTS INDEX -50- 12/11 -15 -722,625.00 -7,276.66CHFSMI INDEX FUTURE -10- 12/11 -5 -281,650.00 -13,210.00USDS&P 500 E-MINI INDEX FUTURE -50- 12/11 -7 -436,100.00 -29,864.34


Quantity EngagementDescription Currency Valuation(in CHF)


83,724CHF JPY -7,000,000 1,642.9922.12.2011Credit Suisse Zürich

1,533,756CHF EUR -1,240,000 15,204.3423.12.2011Credit Suisse Zürich

1,149,375CHF USD -1,250,000 11,715.7723.12.2011Credit Suisse Zürich

7,000,000JPY CHF -82,733 -652.7022.12.2011Credit Suisse Zürich

921,400CHF USD -1,000,000 11,272.6723.12.2011Credit Suisse Zürich

39,183.07Unrealised gain on forward foreign exchange contracts

SalesPurchases Valuation(in CHF)




Assets

Investments in securities at market value 11,956,029.84Cash at banks 1,160,505.04Income receivable 80,417.42Other assets 39,183.07

13,236,135.37

Liabilities

Due to banks 3,460.27Provisions for accrued expenses 17,709.51Other liabilities 78,395.83

99,565.61

13,136,569.76Net assets

Statement of Net Assets in CHF and Fund Evolution

30.11.2011

83.32 88.48CHFB 87.74Capitalisation -

Total net assets


13,136,569.76 15,029,340.31 24,975,667.17CHF

Fund Evolution 30.11.2011 31.05.2011 31.05.2010

157,660.269 2,607.664B 171,301.235 16,248.630Capitalisation - CHF










Income

Interest on investments in securities (net) 80,612.15Dividends (net) 29,717.99Bank interest 303.10Other income 1,364.15

111,997.39

Expenses


105,759.04




-520,458.52




-213,420.90



Subscriptions 219,883.21Redemptions -1,385,012.69

-1,165,129.48


Statement of Operations / Changes in Net Assets in CHF


30.11.2011







13.29Switzerland11.32USA8.61Ireland8.42Sweden8.04France6.41United Kingdom6.37Netherlands3.84Austria2.85Jersey1.93Germany

91.01Total

28.54Investment trusts/fundsBreakdown by Economic Sector

14.18Banks and other credit institutions8.42Mortgage and funding institutions (MBA, ABS)7.71Pharmaceuticals, cosmetics and medical products6.92Countries and central governments5.60Telecommunication3.81Electrical appliances and components2.85Financial, investment and other div. companies2.58Food and soft drinks2.29Traffic and transportation1.93Vehicles1.92Public non profit institutions1.90Cities and municipal authorities1.77Energy and water supply0.59Internet, software and IT services

91.01Total




assets(in CHF)


Bonds

EUR BARCLAYS BANK (reg. -S-) FRN 09-28.01.2013 310,000 377,039.37 2.87CHF BMW AUSTRALIA FINANCE 3%/07-25.06.2012 250,000 253,500.00 1.93CHF BNG 2.25%/05-17.03.2014 550,000 570,900.00 4.36CHF CADES 1.5%/09-25.07.2012 250,000 251,900.00 1.92CHF CREDIT SUISSE LONDON 2.125%/10-

05.02.2015160,000 162,160.00 1.23

CHF FRANCE TELECOM 2.75%/06-11.04.2012 500,000 503,750.00 3.83CHF GECC 2.375%/06-11.01.2012 500,000 501,050.00 3.81USD MICROSOFT 0.875%/10-27.09.2013 85,000 77,874.22 0.59EUR NATIONAL GRID FRN 06-18.01.2012 190,000 232,923.02 1.77CHF NEDERLANDSE WATERSCHAPSBANK

2.5%/05-20.04.2015250,000 264,625.00 2.01

CHF NESTLE FINANCE INTERNATIONAL 2%/09-05.08.2013

330,000 339,405.00 2.58

CHF NOVARTIS SECURITIES INVESTMENT 3.5%/08-26.06.2012

500,000 509,350.00 3.88

CHF OEKB 2.5%/04-18.10.2012 250,000 254,600.00 1.94CHF ROCHE HOLDINGS 2.5%/09-23.03.2012 500,000 503,400.00 3.83CHF SBAB SWEDISH NATIONAL HOUSING FINANCE

BANK 1%/10-10.02.2012550,000 550,660.00 4.20

CHF SNCF 1.75%/05-24.02.2012 300,000 300,990.00 2.29CHF SWEDBANK MORTGAGE 1.25%/10-22.04.2013 550,000 553,465.00 4.22EUR UBS JERSEY BRANCH FRN 07-18.04.2012 190,000 232,462.10 1.77USD US 01.03.2012 500,000 455,052.33 3.46USD US 12.04.2012 500,000 455,016.30 3.46CHF VIENNA 1.125%/10-07.01.2014 250,000 249,000.00 1.90EUR VODAFONE GROUP FRN 06-13.01.2012 190,000 232,946.30 1.77


Bonds 7,832,068.64 59.62



CHF CREDIT SUISSE FUND (LUX) FOREIGNCORPORATE -F- (CHF)

375 389,692.50 2.97

EUR CS ETF (IE) on MSCI EMU 3,000 206,699.57 1.57GBP CS ETF (IE) on MSCI UK 1,650 150,671.17 1.15USD CS ETF (IE) on S&P 500 7,850 773,420.91 5.89USD CS ETF (Lux) on MSCI Emerging Markets 8,300 721,272.69 5.49EUR DB X-TRACKERS SICAV - DAX ETF -1C- 2,200 163,128.03 1.24CHF DB X-TRACKERS SMI ETF -1D- 14,700 830,991.00 6.32





CHF CS FIXED INCOME SICAV-SIF GLOBAL ASSETBACKED SECURITIES -T- CHF

3,000 334,650.00 2.55

CHF CS FIXED INCOME SICAV-SIF GLOBALEMERGING MARKETS BONDS -T- CHF

1,700 179,112.00 1.36




Certificates





Cash at banks 1,160,505.04 8.83

Due to banks -3,460.27 -0.03


Total net assets 13,136,569.76 100.00


Credit Suisse SICAV One (Lux) CommodityAllocation


USDB 11145804 LU0496465690 1.92% 2.14%Capitalisation -


USDF 11145820 LU0496466078 0.90% 1.07%Capitalisation - CHFR 11183148 LU0499371648 1.92% 2.13%Capitalisation - CHFT 13483387 LU0656520649 0.90% 1.10%Capitalisation - EURR 11183143 LU0499368180 1.92% 2.13%Capitalisation - EURS 11145824 LU0496465856 0.90% 1.09%Capitalisation - EURT 13483385 LU0656520482 0.90% 1.11%Capitalisation -

Technical Data

USDB 5.20%-9.75%Capitalisation - YTD Since Inception

USDF 7.02%-8.88%Capitalisation - CHFR 2.56%-10.36%Capitalisation - CHFT -8.11%/Capitalisation - EURR 3.23%-10.20%Capitalisation - EURS -11.24%/Capitalisation - EURT -8.12%/Capitalisation -

Fund Performance


Notes

Credit Suisse SICAV One (Lux) CommodityAllocation -S- EUR: the first NAV is as of 18.07.2011.Credit Suisse SICAV One (Lux) CommodityAllocation -T- EUR und -T- CHF: the first NAV is as of 12.08.2011.

54,223,014EUR USD -74,312,641 -1,347,929.9121.12.2011Credit Suisse AG, GL. Foreign Ex. London

78,870,309CHF USD -89,947,322 -3,288,727.4021.12.2011Credit Suisse AG, GL. Foreign Ex. London

4,999,811USD EUR -3,725,086 -12,822.8821.12.2011Credit Suisse AG, GL. Foreign Ex. London

5,911,453USD CHF -5,364,644 17,061.1221.12.2011Credit Suisse AG, GL. Foreign Ex. London

200,475CHF USD -222,010 -1,738.4621.12.2011Credit Suisse AG, GL. Foreign Ex. London

4,351,582USD CHF -3,966,467 -6,565.4921.12.2011Credit Suisse AG, GL. Foreign Ex. London


222,293EUR USD -295,693 3,432.4221.12.2011Credit Suisse AG, GL. Foreign Ex. London



44,263,203CHF USD -48,127,348 506,758.0221.12.2011Credit Suisse AG, GL. Foreign Ex. London

SalesPurchases Valuation(in USD)






10,861,021EUR USD -14,329,814 285,221.2721.12.2011Credit Suisse AG, GL. Foreign Ex. London

1,197,718USD EUR -897,712 -10,283.5921.12.2011Credit Suisse AG, GL. Foreign Ex. London





9,310,534CHF USD -10,034,525 195,405.6421.12.2011Credit Suisse AG, GL. Foreign Ex. London

235,995CHF USD -257,355 1,943.5321.12.2011Credit Suisse AG, GL. Foreign Ex. London

3,245,762EUR USD -4,375,937 -8,305.9121.12.2011Credit Suisse AG, GL. Foreign Ex. London

193,561USD CHF -177,340 -1,291.5821.12.2011Credit Suisse AG, GL. Foreign Ex. London


845,655EUR USD -1,160,238 -22,290.6221.12.2011Credit Suisse AG, GL. Foreign Ex. London

2,028,502USD EUR -1,478,500 38,986.5221.12.2011Credit Suisse AG, GL. Foreign Ex. London

254,292USD CHF -228,379 3,360.2321.12.2011Credit Suisse AG, GL. Foreign Ex. London


366,835EUR USD -508,800 -15,171.9221.12.2011Credit Suisse AG, GL. Foreign Ex. London

3,950,616CHF USD -4,452,904 -112,172.1021.12.2011Credit Suisse AG, GL. Foreign Ex. London








1,822,408USD CHF -1,619,756 42,702.9421.12.2011Credit Suisse AG, GL. Foreign Ex. London

200,058USD EUR -146,477 2,953.9421.12.2011Credit Suisse AG, GL. Foreign Ex. London













2,047,985USD EUR -1,522,100 -214.7121.12.2011Credit Suisse AG, GL. Foreign Ex. London


151,755EUR USD -205,106 -897.9321.12.2011Credit Suisse AG, GL. Foreign Ex. London




159,332USD EUR -120,523 -2,850.3821.12.2011Credit Suisse AG, GL. Foreign Ex. London

1,066,528USD CHF -986,645 -17,545.8221.12.2011Credit Suisse AG, GL. Foreign Ex. London


-5,939,962.16Unrealised loss on forward foreign exchange contracts




ERS Pos. var. DJ-UBSGC3Index

14.12.2011 -187,072.39USD 6,240,000 Neg. var. DJ-UBSGC3Index

0.230%

Société Générale Corporate & Investment Banking - PARIS - FRANCEERS Neg. var. DJ-UBSF3

Index14.12.2011 1,267,632.96USD 50,424,350 0.250% Pos. var. DJ-UBSF3

IndexMorgan Stanley - London - United Kingdom

Type Maturity ReceivablePayable Valuation

(in USD)Nominal IR Nominal IRCounterparty

Swap contracts




ERS Neg. var. DJ-UBSF3Index

14.12.2011 1,048,479.72USD 41,693,255 0.220% Pos. var. DJ-UBSF3Index

CITIGROUP - London - United KingdomERS Neg. var. DJ-UBSF3

Index14.12.2011 849,187.98USD 33,763,068 0.190% Pos. var. DJ-UBSF3

IndexDeutsche Bank AG - London - United KingdomERS Neg. var. DJ-UBSF3


IndexDeutsche Bank AG - London - United KingdomERS Neg. var. DJ-UBSF3


IndexCredit Suisse International - London - United KingdomERS Neg. var. DJ-UBSF3

Index14.12.2011 165,213.79USD 14,028,249 0.250% Pos. var. DJ-UBSF3

IndexMorgan Stanley - London - United KingdomERS Neg. var. DJ-UBSF3


IndexSociété Générale Corporate & Investment Banking - PARIS - FRANCEERS Neg. var. DJ-UBSGC

Index14.12.2011 189,023.28USD 6,240,000 0.120% Pos. var. DJ-UBSGC

IndexSociété Générale Corporate & Investment Banking - PARIS - FRANCE

9,983,174.46Unrealised gain on swap contracts

Type Maturity ReceivablePayable Valuation

(in USD)Nominal IR Nominal IRCounterparty

Swap contracts


Assets

Investments in securities at market value 494,314,757.83Cash at banks 23,006,531.01Subscriptions receivable 593,456.26Income receivable 7.54Formation expenses 33,725.30Other assets 9,983,174.46

527,931,652.40

Liabilities

Due to banks 355.07Redemptions payable 1,498,069.68Provisions for accrued expenses 575,598.83Other liabilities 5,942,314.87

8,016,338.45

519,915,313.95Net assets

Statement of Net Assets in USD and Fund Evolution

30.11.2011

105.20 91.47USDB 120.32Capitalisation -

1,070.19 915.90USDF 1,217.76Capitalisation -

102.56 91.18CHFR 117.62Capitalisation -

918.94 /CHFT /Capitalisation -

103.23 91.22EURR 118.05Capitalisation -

887.56 /EURS /Capitalisation -

918.79 /EURT /Capitalisation -

Total net assets


519,915,313.95 1,015,369,211.91 335,781,949.35USD

Fund Evolution 30.11.2011 31.05.2011 31.05.2010

1,231,374.291 279,658.809B 7,125,270.153 6,173,554.671Capitalisation - USD

221,889.578 445,363.687F 4,150.000 227,624.109Capitalisation - USD

72,600.419 147,536.907R 643,708.254 718,644.742Capitalisation - CHF

72,678.374 75,129.120T 0.000 2,450.746Capitalisation - CHF

46,486.598 100,038.353R 378,414.776 431,966.531Capitalisation - EUR

9,743.256 9,743.256S 0.000 0.000Capitalisation - EUR

43,057.000 45,067.000T 0.000 2,010.000Capitalisation - EUR









Net assets at the beginning of the period 1,015,369,211.91

Income

Interest on investments in securities (net) 36,951.79Bank interest 5,190.06

42,141.85

Expenses

Management fee 6,302,403.26Custodian and safe custody fees 187,905.18Administration expenses 285,575.49Printing and publication expenses 43,228.24Audit, control, legal, representative bank and other expenses 132,524.52"Taxe d'abonnement" 80,147.32Amortisation of formation expenses 5,014.07

7,036,798.08

Net income (loss) -6,994,656.23


Net realised gain (loss) on sales of investments 1,063,736.69Net realised gain (loss) on swap contracts -141,643,291.46Net realised gain (loss) on forward foreign exchange contracts 1,600,224.67Net realised gain (loss) on foreign exchange -288,251.02

-139,267,581.12



Change in net unrealised appreciation (depreciation) on investments -876,726.44Change in net unrealised appreciation (depreciation) on swap contracts 10,848,165.93Change in net unrealised appreciation (depreciation) on forward foreign exchange contracts -13,769,514.16

-3,798,074.67



Subscriptions 719,473,861.22Redemptions -1,064,867,447.16

-345,393,585.94


Statement of Operations / Changes in Net Assets in USD


30.11.2011






94.18USABreakdown by Country

0.90Jersey95.08Total

94.18Countries and central governmentsBreakdown by Economic Sector

0.90Financial, investment and other div. companies95.08Total




assets(in USD)


Bonds

USD US 03.05.2012 30,000,000 29,978,582.10 5.77USD US 18.10.2012 20,000,000 19,984,388.24 3.84USD US 20.09.2012 70,000,000 69,957,265.85 13.46USD US 23.08.2012 110,000,000 109,918,824.36 21.14USD US 26.07.2012 80,000,000 79,936,532.00 15.37USD US 28.06.2012 100,000,000 99,916,919.25 19.22USD US 31.05.2012 80,000,000 79,943,981.53 15.38


Bonds 489,636,493.33 94.18


Certificates

USD ETFS METAL SECURITIES PHYSICAL GOLD 27,300 4,678,264.50 0.90

Securities listed on a stock exchange or other organised markets:Certificates 4,678,264.50 0.90

Certificates 4,678,264.50 0.90


Cash at banks 23,006,531.01 4.43


Other net assets 2,594,380.18 0.49

Total net assets 519,915,313.95 100.00


Credit Suisse SICAV One (Lux) Defender (Euro)




Technical Data

EURB 2.88% -0.46%-1.47%/-2.42%Capitalisation - 2009 2008YTD 2010Since Inception

Fund Performance


Notes

As of 30.11.2011 the subfund participated in the "securities lending" - system for a global market value of EUR 402,816.00.

Securities Lending

EURDJ EURO STOXX 50 INDEX FUTURE -10- 12/11 -14 -325,640.00 -33,980.00USDS&P 500 E-MINI INDEX FUTURE -50- 12/11 -4 -249,200.00 -13,928.61




371,554EUR USD -500,000 -34.7723.12.2011Credit Suisse Zürich

67,662EUR JPY -7,000,000 639.7822.12.2011Credit Suisse Zürich

7,000,000JPY EUR -67,372 -350.3322.12.2011Credit Suisse Zürich

254.68Unrealised gain on forward foreign exchange contracts





Assets

Investments in securities at market value 7,790,088.86Cash at banks 1,593,566.97Income receivable 141,983.36Other assets 254.68

9,525,893.87

Liabilities


66,440.30



30.11.2011


Total net assets


9,459,453.57 10,420,902.48 18,378,914.22EUR

Fund Evolution 30.11.2011 31.05.2011 31.05.2010











Income

Interest on investments in securities (net) 106,385.83Dividends (net) 17,536.20Bank interest 2,212.97Other income 819.30

126,954.30

Expenses


71,920.97




-183,265.75




-139,944.78



Subscriptions 6,246.50Redemptions -699,518.21

-693,271.71




30.11.2011






13.03NetherlandsBreakdown by Country

10.81France8.83Germany7.81United Kingdom7.17Canada6.95Austria6.45Ireland6.31USA5.83Int. organisations4.26Switzerland4.09Luxembourg0.81Jersey

82.35Total


10.54Investment trusts/funds7.17Cantons, federal states, provinces5.83Supranational organisations5.23Pharmaceuticals, cosmetics and medical products4.26Vehicles4.25Miscellaneous services3.73Public non profit institutions3.51Financial, investment and other div. companies2.15Insurance companies2.12Energy and water supply2.12Telecommunication

82.35Total




assets(in EUR)


Bonds

EUR ASFINAG 3.125%/05-06.10.2015 250,000 255,760.00 2.70EUR BARCLAYS BANK (reg. -S-) FRN 09-28.01.2013 340,000 337,518.00 3.57EUR BNG 2.875%/09-15.01.2015 350,000 360,430.00 3.81EUR CADES 2.625%/09-15.01.2015 350,000 353,255.00 3.73EUR EIB 2.125%/11-15.01.2014 350,000 351,085.00 3.71EUR EIB 2.5%/10-15.07.2015 200,000 200,280.00 2.12EUR JP MORGAN CHASE FRN 06-26.09.2013 200,000 194,000.00 2.05EUR KFW 1.125%/10-23.03.2012 400,000 400,560.00 4.23EUR LANDESBANK BADEN-WUERTTEMBERG

FOERDERBANK 4.125%/08-15.04.2013200,000 207,900.00 2.20

EUR MERCK FINANCIAL SERVICES 3.375%/10-24.03.2015

220,000 226,908.00 2.40

EUR NATIONAL GRID FRN 06-18.01.2012 200,000 200,116.00 2.12EUR NEDERLANDSE WATERSCHAPSBANK 4%/03-

12.03.2013260,000 268,606.00 2.84

EUR OEKB 4.125%/07-21.02.2012 400,000 402,240.00 4.25EUR ONTARIO 4.25%/08-11.12.2013 250,000 264,545.00 2.80EUR QUEBEC 4.25%/03-27.02.2013 400,000 413,880.00 4.37EUR RABOBANK 3%/10-16.02.2015 200,000 202,780.00 2.14EUR SANOFI 3.5%/09-17.05.2013 260,000 268,164.00 2.83EUR SNS BANK 2.875%/09-30.01.2012 400,000 401,112.00 4.24EUR SWISS RE TREASURY 6%/09-18.05.2012 200,000 203,440.00 2.15EUR TOYOTA MOTOR CREDIT 5.25%/09-03.02.2012 400,000 402,600.00 4.26EUR UBS JERSEY BRANCH FRN 07-18.04.2012 200,000 199,720.00 2.11EUR UNEDIC 2.125%/09-03.12.2012 400,000 402,280.00 4.25EUR VODAFONE GROUP FRN 06-13.01.2012 200,000 200,136.00 2.12


Bonds 6,717,315.00 71.00



EUR CS ETF (IE) on MSCI EMU 4,000 224,942.40 2.38GBP CS ETF (IE) on MSCI UK 1,330 99,126.72 1.05USD CS ETF (IE) on S&P 500 3,550 285,474.69 3.02EUR DB X-TRACKERS DJ EURO STOXX 50 ETF -1D- 10,500 248,010.00 2.62

Securities listed on a stock exchange or other organised markets:Investment funds 857,553.81 9.07




EUR CS FIXED INCOME SICAV-SIF GLOBAL ASSETBACKED SECURITIES -T- EUR

1,200 138,840.00 1.47




Certificates

USD ETFS METAL SECURITIES PHYSICAL GOLD 600 76,380.05 0.81




Cash at banks 1,593,566.97 16.85

Due to banks -7,255.97 -0.08


Total net assets 9,459,453.57 100.00


Credit Suisse SICAV One (Lux) Defender (Sfr)




Technical Data

CHFB 1.37% -2.77%-2.73%/-4.24%Capitalisation - 2009 2008YTD 2010Since Inception

Fund Performance


Notes

EURDJ EURO STOXX 50 INDEX FUTURE -10- 12/11 -6 -139,560.00 -24,038.42CHFSMI INDEX FUTURE -10- 12/11 -8 -450,640.00 -22,720.00USDS&P 500 E-MINI INDEX FUTURE -50- 12/11 -6 -373,800.00 -25,598.00


Quantity EngagementDescription Currency Valuation(in CHF)


1,379,250CHF USD -1,500,000 14,058.9223.12.2011Credit Suisse Zürich

1,298,745CHF EUR -1,050,000 12,874.6523.12.2011Credit Suisse Zürich

83,724CHF JPY -7,000,000 1,642.9922.12.2011Credit Suisse Zürich

691,050CHF USD -750,000 8,454.4923.12.2011Credit Suisse Zürich

7,000,000JPY CHF -82,733 -652.7022.12.2011Credit Suisse Zürich

36,378.35Unrealised gain on forward foreign exchange contracts

SalesPurchases Valuation(in CHF)




Assets

Investments in securities at market value 15,997,957.82Cash at banks 924,157.60Income receivable 156,569.90Other assets 36,378.35

17,115,063.67

Liabilities

Provisions for accrued expenses 20,315.82Other liabilities 72,356.42

92,672.24

17,022,391.43Net assets


30.11.2011


Total net assets


17,022,391.43 19,280,949.61 29,254,728.92CHF

Fund Evolution 30.11.2011 31.05.2011 31.05.2010











Income

Interest on investments in securities (net) 136,234.33Dividends (net) 23,980.70Bank interest 350.49Other income 669.98

161,235.50

Expenses

Management fee 105,614.17Custodian and safe custody fees 4,048.30Administration expenses 6,080.90Printing and publication expenses 1,137.47Audit, control, legal, representative bank and other expenses 7,935.38"Taxe d'abonnement" 3,858.26

128,674.48




-774,445.67



Change in net unrealised appreciation (depreciation) on investments 47,899.25Change in net unrealised appreciation (depreciation) on financial futures contracts -72,356.42Change in net unrealised appreciation (depreciation) on forward foreign exchange contracts 224.04

-24,233.13




-1,492,440.40




30.11.2011






18.43FranceBreakdown by Country

12.03USA11.55Switzerland9.39Netherlands8.95Germany8.31Luxembourg5.59Sweden5.46Ireland4.44United Kingdom3.03Australia2.95Japan2.93Austria0.92Jersey

93.98Total


13.77Investment trusts/funds12.03Countries and central governments10.47Pharmaceuticals, cosmetics and medical products6.00Cantons, federal states, provinces5.59Mortgage and funding institutions (MBA, ABS)5.02Traffic and transportation4.88Food and soft drinks4.44Public non profit institutions4.21Energy and water supply4.18Telecommunication2.95Vehicles2.93Cities and municipal authorities0.92Financial, investment and other div. companies

93.98Total




assets(in CHF)


Bonds

EUR BARCLAYS BANK (reg. -S-) FRN 09-28.01.2013 280,000 340,551.69 2.00CHF BNG 2.25%/05-17.03.2014 750,000 778,500.00 4.57CHF CADES 1.5%/09-25.07.2012 750,000 755,700.00 4.44CHF CREDIT SUISSE LONDON 2.125%/10-

05.02.2015160,000 162,160.00 0.95

CHF EDF 3%/06-31.01.2013 500,000 509,800.00 2.99CHF FRANCE TELECOM 2.75%/06-11.04.2012 500,000 503,750.00 2.96CHF LANDESBANK BADEN-WUERTTEMBERG

2.75%/07-13.03.2012500,000 501,450.00 2.95

EUR NATIONAL GRID FRN 06-18.01.2012 170,000 208,404.80 1.22CHF NEDERLANDSE WATERSCHAPSBANK

2.5%/05-20.04.2015300,000 317,550.00 1.87

CHF NESTLE FINANCE INTERNATIONAL 2%/09-05.08.2013

320,000 329,120.00 1.93

CHF NORDRHEIN-WESTFALEN 1.375%/10-08.08.2014

500,000 512,190.00 3.01

CHF NOVARTIS SECURITIES INVESTMENT 3.5%/08-26.06.2012

750,000 764,025.00 4.49

CHF ROCHE HOLDINGS 2.5%/09-23.03.2012 500,000 503,400.00 2.96CHF SANOFI 3.25%/08-19.12.2012 500,000 514,150.00 3.02CHF SBAB SWEDISH NATIONAL HOUSING FINANCE

BANK 1%/10-10.02.2012650,000 650,780.00 3.82

CHF SNCF 1.75%/05-24.02.2012 850,000 852,805.00 5.02CHF STATE OF BERLIN 1.25%/10-18.03.2014 500,000 508,500.00 2.99CHF SWEDBANK MORTGAGE 1.25%/10-22.04.2013 300,000 301,890.00 1.77CHF TOYOTA MOTOR CREDIT 4%/09-03.02.2012 500,000 502,950.00 2.95EUR UBS JERSEY BRANCH FRN 07-18.04.2012 170,000 207,992.40 1.22CHF UNILEVER T. A 3.125%/08-17.01.2012 500,000 501,750.00 2.95USD US 01.03.2012 750,000 682,578.49 4.01USD US 01.12.2011 750,000 682,613.01 4.01USD US 12.04.2012 750,000 682,524.45 4.01CHF VIENNA 1.125%/10-07.01.2014 500,000 498,000.00 2.93EUR VODAFONE GROUP FRN 06-13.01.2012 170,000 208,425.63 1.22CHF WESTPAC BANKING 2.125%/09-21.11.2014 500,000 516,250.00 3.03


Bonds 13,497,810.47 79.29




500 519,590.00 3.05

EUR CS ETF (IE) on MSCI EMU 4,000 275,599.43 1.62GBP CS ETF (IE) on MSCI UK 1,330 121,450.09 0.71USD CS ETF (IE) on S&P 500 5,400 532,034.77 3.13CHF DB X-TRACKERS SMI ETF -1D- 11,500 650,095.00 3.82





CHF CS FIXED INCOME SICAV-SIF GLOBAL ASSETBACKED SECURITIES -T- CHF

2,200 245,410.00 1.44




Certificates





Cash at banks 924,157.60 5.43


Total net assets 17,022,391.43 100.00


Credit Suisse SICAV One (Lux) Equity Asian Dragon




USDF 10627701 LU0456267508 0.50% 0.68%Capitalisation - USDI 10627690 LU0456267250 0.90% 1.10%Capitalisation -

Technical Data

USDB -10.50%-24.79%Capitalisation - YTD Since Inception

USDF -8.38%-23.72%Capitalisation - USDI -13.26%-24.03%Capitalisation -

Fund Performance



Assets

Investments in securities at market value 54,319,892.42Cash at banks 3,725,939.97Income receivable 15,152.29Formation expenses 12,506.25

58,073,490.93

Liabilities

Due to banks 473,288.90Provisions for accrued expenses 78,674.52

551,963.42

57,521,527.51Net assets


30.11.2011


916.22 986.59USDF 1,228.15Capitalisation -

867.39 /USDI 1,165.22Capitalisation -

Total net assets


57,521,527.51 87,863,828.14 14,047,354.77USD

Fund Evolution 30.11.2011 31.05.2011 31.05.2010

1,913,609.781 59,027.359B 2,230,257.124 375,674.702Capitalisation - USD


29,808.707 1,466.615I 33,402.513 5,060.421Capitalisation - USD










Income

Dividends (net) 654,212.21Other income 14,842.41

669,054.62

Expenses

Management fee 401,589.44Custodian and safe custody fees 16,300.63Administration expenses 35,962.85Printing and publication expenses 4,681.12Interest and bank charges 128.38Audit, control, legal, representative bank and other expenses 17,128.80"Taxe d'abonnement" 11,816.03Amortisation of formation expenses 5,571.94

493,179.19



Net realised gain (loss) on sales of investments -10,655,515.99Net realised gain (loss) on foreign exchange -154,975.41

-10,810,491.40



Change in net unrealised appreciation (depreciation) on investments -10,667,086.75-10,667,086.75



Subscriptions 3,820,067.11Redemptions -12,860,665.02

-9,040,597.91




30.11.2011






22.82South KoreaBreakdown by Country

14.37Hong Kong12.70Taiwan11.13PR China11.00Cayman Islands5.07Singapore4.89India3.85Luxembourg3.63Thailand3.56Indonesia1.41Malaysia

94.43Total

18.77Electrical appliances and componentsBreakdown by Economic Sector

7.60Retailing, department stores7.45Banks and other credit institutions6.58Telecommunication5.38Vehicles4.92Petroleum4.75Financial, investment and other div. companies4.69Insurance companies4.36Internet, software and IT services4.03Traffic and transportation3.85Investment trusts/funds3.20Building materials and building industry2.98Pharmaceuticals, cosmetics and medical products2.73Various capital goods2.29Mining, coal and steel industry2.25Miscellaneous services2.08Lodging and catering industry, leisure facilities1.71Chemicals1.67Textiles, garments and leather goods1.27Real estate1.01Miscellaneous trading companies0.86Electronics and semiconductors

94.43Total




assets(in USD)

Securities listed on a stock exchange or other organised markets: Shares (and equity-type securities)

Shares (and equity-type securities)

HKD AIA GROUP 416,200 1,260,562.02 2.19MYR AIRASIA 698,900 811,377.62 1.41HKD ANHUI CONCH CEMENT -H- 188,000 577,865.79 1.00IDR BANK RAKYAT INDONESIA (PERSERO) 993,500 708,863.84 1.23HKD BELLE INTERNATIONAL HOLDINGS 522,000 960,014.45 1.67TWD CATCHER TECHNOLOGY 135,000 629,759.17 1.09HKD CHAOWEI POWER HOLDINGS 1,039,000 452,987.77 0.79HKD CHINA CONSTRUCTION BANK -H- 1,923,080 1,300,931.19 2.26TWD CHINA LIFE INSURANCE 725,735 613,690.97 1.07HKD CHINA MOBILE 99,000 946,008.94 1.64HKD CHINA RESOURCES CEMENT HOLDINGS 902,000 638,029.06 1.11HKD CHINA SHENHUA ENERGY COMPANY -H- 181,000 760,033.95 1.32HKD CHINA UNICOM (HONG KONG) 484,000 1,000,927.54 1.74HKD CN AUTOMATION GROUP 1,277,000 356,387.01 0.62HKD CNOOC 629,000 1,134,148.42 1.97THB CP ALL PUBLIC (nvdr) 552,200 885,787.52 1.54USD DR REDDY'S LABORATORIES ADR 25,600 769,024.00 1.34TWD FAR EASTERN DEPARTMENT STORES 532,800 661,322.79 1.15HKD FOXCONN INTERNATIONAL HOLDINGS 1,561,000 961,633.64 1.67TWD HON HAI PRECISION INDUSTRY 590,000 1,550,224.61 2.70KRW HYUNDAI DEPARTMENT STORE H & S 54,940 721,186.67 1.25KRW HYUNDAI MOBIS 3,256 864,790.41 1.50KRW HYUNDAI MOTOR 4,646 866,017.33 1.51USD ICICI BANK ADR 20,400 593,844.00 1.03HKD INDUSTRIAL AND COMMERCIAL BANK OF

CHINA -H-2,002,000 1,109,717.86 1.93

USD INFOSYS ADR 12,900 665,898.00 1.16HKD INTIME DEPARTMENT STORE 608,000 692,801.04 1.20USD JARDINE MATHESON HOLDINGS 22,800 1,128,144.00 1.96KRW KANGWON LAND 23,490 568,389.34 0.99KRW KOREA AEROSPACE INDUSTRIES 43,500 1,564,583.89 2.73KRW KOREA ZINC 1,900 560,339.55 0.97KRW LG CHEMICAL 3,483 982,994.23 1.71KRW LG ELECTRONICS 7,549 484,240.57 0.84KRW LG ELECTRONICS (rights) 21.12.2011 712 13,520.96 0.02KRW LG HOUSEHOLD & HEALTHCARE 2,025 942,767.13 1.64HKD LUK FOOK HOLDINGS 201,000 787,144.72 1.37USD MAHINDRA & MAHINDRA GDR 53,223 779,716.95 1.36TWD MEDIATEK 79,000 727,936.00 1.27KRW NCSOFT 4,117 1,098,875.47 1.91SGD OLAM INTERNATIONAL 326,000 582,666.95 1.01HKD PETROCHINA -H- 706,000 868,028.18 1.51TWD PRESIDENT CHAIN STORE 188,000 926,580.88 1.61HKD PROPERTY AND CASUALITY COMPANY -H- 642,000 824,843.86 1.43IDR PT HEXINDO ADIPERKANSA TBK 449,000 409,077.91 0.71IDR PT JASA MARGA (PERSERO) -B- 2,194,000 933,232.65 1.62HKD SA SA INTERNATIONAL 1,006,000 586,094.19 1.02KRW SAMSUNG ELECTRONICS 2,923 2,568,208.64 4.47KRW SAMSUNG ENGINEERING 5,339 1,060,604.71 1.84HKD SANDS CHINA 224,400 627,701.76 1.09SGD SEMBCORP INDUSTRIES 273,000 884,256.06 1.54THB SIAM CEMENT NVDR 61,900 625,553.35 1.09THB SIAM COMMERCIAL BANK (nvdr) 165,700 576,786.91 1.00SGD SINGAPORE AIRPORT TERMINAL SERVICES 341,000 577,539.13 1.00SGD SINGAPORE TELECOMMUNICATIONS 364,000 872,181.88 1.52KRW S-OIL 8,933 828,649.69 1.44HKD SUN HUNG KAI PROPERTIES 61,000 731,167.67 1.27TWD TAIWAN SEMICONDUCTOR MANUFACTURING 653,000 1,605,965.84 2.80HKD TECHTRONIC INDUSTRIES 634,500 564,688.51 0.98HKD TENCENT HOLDINGS 56,400 1,053,214.80 1.83HKD THE WHARF HOLDINGS 153,000 719,200.60 1.25TWD YULON MOTOR 306,000 581,069.67 1.01HKD ZTE 330,600 965,161.38 1.68

Securities listed on a stock exchange or other organised markets:Shares (and equity-type securities) 52,104,963.64 90.58

Shares (and equity-type securities) 52,104,963.64 90.58



USD JP MORGAN FUNDS SICAV - INDIA FUND -A- 35,650 2,214,928.78 3.85




Cash at banks 3,725,939.97 6.48

Due to banks -473,288.90 -0.82

Other liabilities -51,015.98 -0.09

Total net assets 57,521,527.51 100.00


Credit Suisse SICAV One (Lux) Equity Eurozone




EURF 11145878 LU0496466664 0.50% 0.72%Capitalisation - EURI 11145872 LU0496466318 0.70% 0.96%Capitalisation -

Technical Data

EURB -16.80%/Capitalisation - YTD Since Inception

EURF -21.95%-18.76%Capitalisation - EURI -16.35%/Capitalisation -

Fund Performance


Notes

Credit Suisse SICAV One (Lux) Equity Eurozone -B- and -I- were launched on 27.06.2011.

As of 30.11.2011 the subfund participated in the "securities lending" - system for a global market value of EUR 21,072,141.00.

Securities Lending


Assets

Investments in securities at market value 273,396,015.67Cash at banks 129,386.49Income receivable 47,188.17Formation expenses 27,636.89Other assets 1,470.63

273,601,697.85

Liabilities

Provisions for accrued expenses 205,004.71205,004.71

273,396,693.14Net assets


30.11.2011

8.32EURB /Capitalisation -

78.05EURF 98.41Capitalisation -

836.50EURI /Capitalisation -

Total net assets


273,396,693.14 454,662,114.09EUR

Fund Evolution 30.11.2011 31.05.2011

5,866,683.221 6,402,678.315B 0.000 535,995.094Capitalisation - EUR

2,759,495.298 630,887.847F 4,620,037.219 2,491,429.768Capitalisation - EUR

10,989.705 10,989.708I 0.000 0.003Capitalisation - EUR










Income

Dividends (net) 1,803,600.96Bank interest 19,784.91Other income 625,523.04

2,448,908.91

Expenses

Management fee 1,254,758.87Custodian and safe custody fees 83,610.69Administration expenses 182,951.98Printing and publication expenses 40,974.21Interest and bank charges 739.68Audit, control, legal, representative bank and other expenses 83,696.17"Taxe d'abonnement" 24,206.14Amortisation of formation expenses 3,735.08

1,674,672.82



Net realised gain (loss) on sales of investments -72,312,883.78Net realised gain (loss) on financial futures contracts -2,614,887.88Net realised gain (loss) on foreign exchange -27,271.31

-74,955,042.97



Change in net unrealised appreciation (depreciation) on investments -44,321,950.27-44,321,950.27




-62,762,663.80




30.11.2011






31.98GermanyBreakdown by Country

23.74France12.32Netherlands8.20Spain5.38Italy4.67Austria3.27Portugal3.25Sweden3.19Belgium2.69Finland1.31Norway

100.00Total

9.67PetroleumBreakdown by Economic Sector

9.42Pharmaceuticals, cosmetics and medical products9.40Electrical appliances and components8.73Insurance companies8.43Energy and water supply6.71Telecommunication6.62Banks and other credit institutions6.27Building materials and building industry4.35Food and soft drinks3.99Textiles, garments and leather goods3.89Aeronautic and astronautic industry3.82Vehicles3.76Mining, coal and steel industry3.19Tobacco and alcoholic beverages2.84Chemicals2.35Financial, investment and other div. companies2.21Miscellaneous consumer goods2.19Graphics publishing and printing media2.16Electronics and semiconductors

100.00Total




assets(in EUR)



EUR ADIDAS (reg. shares) 208,646 10,903,839.96 3.99EUR AKZO NOBEL 206,636 7,752,982.72 2.84EUR ALLIANZ SE (reg. shares) 130,465 10,043,195.70 3.67EUR ANHEUSER BUSCH INBEV 196,868 8,721,252.40 3.19EUR ASML HOLDING 203,436 5,896,592.46 2.16EUR AXA 514,165 5,511,848.80 2.02EUR BANCO SANTANDER (reg. shares) 1,163,213 6,512,829.59 2.38EUR BUZZI UNICEM 894,689 6,088,358.65 2.23EUR DAIMLER (reg. shares) 310,989 10,452,340.29 3.82EUR DANONE 152,839 7,495,988.76 2.74EUR DEUTSCHE TELEKOM (reg. shares) 986,761 9,512,376.04 3.48EUR EDP-ENERGIAS DE PORTUGAL (reg. shares) 3,755,387 8,937,821.06 3.27EUR E.ON (reg. shares) 402,095 7,382,464.20 2.70EUR FRESENIUS 115,298 8,249,571.90 3.02EUR GAS NATURAL 518,731 6,712,379.14 2.46EUR HENKEL (pref. shares) 136,630 6,036,313.40 2.21EUR ING GROEP (cert. shares) 999,985 5,738,913.92 2.10EUR INTESA SANPAOLO 4,756,589 5,841,091.29 2.14EUR KABEL DEUTSCHLAND HOLDING 75,655 3,119,255.65 1.14SEK KINNEVIK INVESTMENT AB -B- 218,830 3,304,777.13 1.21EUR KONINKLIJKE KPN 427,529 3,886,238.61 1.42EUR MTU AERO ENGINES 223,977 10,641,147.27 3.89EUR NOKIA 665,805 2,845,650.57 1.04EUR OMV 231,357 5,691,382.20 2.08EUR REPSOL YPF 409,728 9,175,858.56 3.36EUR SAMPO -A- 232,632 4,501,429.20 1.65EUR SANOFI 336,184 17,511,824.56 6.40EUR SAP 128,739 5,712,793.13 2.09EUR SCHNEIDER ELECTRIC 276,121 11,597,082.00 4.23EUR SCOR REGPT 214,976 3,808,299.84 1.39EUR ST GOBAIN 352,073 11,056,852.57 4.04EUR TECHNIP 65,510 4,628,281.50 1.69EUR TELECOM ITALIA 3,265,459 2,751,149.21 1.01EUR TELEKOM AUSTRIA 255,207 2,197,332.27 0.80SEK TELE2 -B- 376,569 5,570,811.19 2.04NOK TGS NOPEC GEOPHYSIC 216,833 3,568,555.05 1.31EUR THYSSEN KRUPP 281,624 5,384,650.88 1.97EUR TOTAL 87,978 3,372,636.63 1.23EUR UNILEVER (cert. shares) 173,853 4,397,611.64 1.61EUR VOESTALPINE 228,331 4,903,408.23 1.79EUR WOLTERS KLUWER 463,475 5,978,827.50 2.19



Securities not listed on a stock exchange: Shares (and equity-type securities)


EUR IMMOFINANZ IMMOBILIEN ANLAGEN (rights)31.12.2099

2,658 0.00 0.00

Securities not listed on a stock exchange: Shares (and equity-typesecurities) 0.00 0.00

Shares (and equity-type securities) 0.00 0.00


Cash at banks 129,386.49 0.05


Total net assets 273,396,693.14 100.00


Credit Suisse SICAV One (Lux) Equity Global Emerging Markets




USDF 10627715 LU0456268142 0.50% 0.80%Capitalisation - USDI 10627709 LU0456267847 0.90% 1.21%Capitalisation -

Technical Data

USDB -9.80%-21.90%Capitalisation - YTD Since Inception

USDF -7.51%-20.85%Capitalisation - USDI -5.33%-21.16%Capitalisation -

Fund Performance



Assets

Investments in securities at market value 436,683,198.52Cash at banks 16,860,282.14Income receivable 180,832.14Formation expenses 38,149.72

453,762,462.52

Liabilities

Due to banks 16,449,508.26Provisions for accrued expenses 380,742.52Other liabilities 8,964.87

16,839,215.65

436,923,246.87Net assets


30.11.2011


924.92 939.79USDF 1,202.72Capitalisation -

946.66 968.32USDI 1,233.68Capitalisation -

Total net assets


436,923,246.87 794,836,231.66 18,364,914.51USD

Fund Evolution 30.11.2011 31.05.2011 31.05.2010

896,189.520 55,858.329B 913,140.986 72,809.795Capitalisation - USD


19,237.056 578.868I 21,497.624 2,839.436Capitalisation - USD










Income

Dividends (net) 8,561,538.98Bank interest 5,090.69

8,566,629.67

Expenses

Management fee 1,665,144.48Custodian and safe custody fees 324,374.01Administration expenses 308,271.83Printing and publication expenses 27,860.96Interest and bank charges 6,976.18Audit, control, legal, representative bank and other expenses 113,757.65"Taxe d'abonnement" 29,592.32Amortisation of formation expenses 6,086.57

2,482,064.00



Net realised gain (loss) on sales of investments -91,002,186.60Net realised gain (loss) on financial futures contracts 408,660.37Net realised gain (loss) on foreign exchange -1,626,840.13

-92,220,366.36



Change in net unrealised appreciation (depreciation) on investments -102,176,658.32Change in net unrealised appreciation (depreciation) on financial futures contracts -435,805.94

-102,612,464.26




-169,164,719.84




30.11.2011






17.65South KoreaBreakdown by Country

17.11Brazil10.81Taiwan10.62PR China7.77South Africa7.69Russia5.80Mexico5.56Hong Kong5.32Indonesia5.05Cayman Islands1.89India1.36Poland1.31Turkey0.90Thailand0.41Egypt0.38Hungary0.32Czech Republic

99.95Total


18.99Electrical appliances and components9.51Banks and other credit institutions6.48Financial, investment and other div. companies5.57Vehicles5.30Telecommunication4.12Mining, coal and steel industry3.60Internet, software and IT services3.03Food and soft drinks2.64Traffic and transportation2.35Chemicals2.34Non-ferrous metals2.26Insurance companies2.13Retailing, department stores2.13Real estate2.12Building materials and building industry2.04Aeronautic and astronautic industry1.91Precious metals and precious stones1.40Mechanical engineering and industrial equipment1.03Computer hardware and networking0.82Graphics publishing and printing media0.32Energy and water supply

99.95Total




assets(in USD)



ZAR ABSA GROUP 75,000 1,328,912.72 0.30HKD AIR CHINA 3,500,000 2,561,247.47 0.59USD AMBEV-CIA DE BEBIDAS DAS AMERICAS (pref.

shares) ADR310,000 10,657,800.00 2.44

MXN AMERICA MOVIL -L- 10,557,000 12,586,744.27 2.88ZAR ANGLOGOLD ASHANTI (reg. shares) 60,000 2,847,855.33 0.65USD BAIDU.COM ADR 120,000 15,718,800.00 3.60PLN BANK POLSKA KASA OPIEKI GRUPA PEKAO 35,000 1,533,558.28 0.35IDR BANK RAKYAT INDONESIA (PERSERO) 4,000,000 2,854,006.41 0.65ZAR BIDVEST GROUP 60,000 1,166,405.68 0.27USD BRADESCO (pref. shares) ADR 530,000 8,745,000.00 2.00CZK CESKE ENERGETICKE ZAVODY 35,000 1,384,919.76 0.32HKD CHINA OVERSEAS LAND & INVESTMENT 1,800,000 2,986,300.09 0.68TWD CHINA PETROCHEMICAL DEVELOPMENT 4,000,000 3,428,606.41 0.78HKD CHINA PETROLEUM & CHEMICAL -H- 7,000,000 7,103,072.94 1.63HKD CHINA SOUTHERN AIRLINES -H- 6,000,000 3,071,182.00 0.70HKD CNOOC 7,000,000 12,621,683.48 2.89USD EMBRAER ADR 350,000 8,932,000.00 2.04HKD EVERGRANDE REAL ESTATE GROUP 10,000,000 3,871,129.74 0.89HKD GALAXY ENTERTAINMENT GROUP 1,200,000 2,216,189.62 0.51USD GAZPROM OAO (reg. shares) -S- ADR 980,000 11,270,000.00 2.58ZAR GOLD FIELDS 125,000 2,106,967.20 0.48HKD GREAT WALL MOTOR -H- 2,500,000 3,382,415.69 0.77MXN GRUPO MEXICO -B- 2,456,298 6,669,801.61 1.53TRY HACI OMER SABANCI HOLDING 500,000 1,578,515.10 0.36TWD HON HAI PRECISION INDUSTRY 5,000,000 13,137,496.69 3.01KRW HYUNDAI HEAVY INDUSTRIES 25,000 5,885,184.23 1.35KRW HYUNDAI MOBIS 24,000 6,374,376.50 1.46KRW HYUNDAI MOTOR 52,000 9,692,832.80 2.22ZAR IMPALA PLATINUM HOLDINGS 160,000 3,390,360.41 0.78HKD INDUSTRIAL AND COMMERCIAL BANK OF

CHINA -H-25,000,000 13,857,615.60 3.17

USD INFOSYS ADR 160,000 8,259,200.00 1.89KRW KB FINANCIAL GROUP 200,000 6,607,158.51 1.51PLN KGHM POLSKA MIEDZ 40,000 1,587,317.43 0.36KRW KIA MOTORS 80,000 4,886,671.93 1.12TRY KOC HOLDING 500,000 1,731,981.84 0.40KRW KOREA ZINC 13,000 3,833,902.17 0.88ZAR KUMBA IRON ORE 20,000 1,254,518.30 0.29HKD LENOVO GROUP 6,500,000 4,480,736.22 1.03BRL LOJAS RENNER 265,000 7,969,478.77 1.82USD LUKOIL ADR 72,000 4,039,200.00 0.92USD MAGNIT GDR 55,000 1,218,250.00 0.28TWD MEDIATEK 450,000 4,146,470.88 0.95MXN MEXICHEM SAB DE CV 1,741,400 6,068,232.66 1.39HKD MINMETALS RESOURCES 4,712,000 1,969,517.64 0.45USD MOBILE TELESYSTEMS ADR 100,000 1,728,000.00 0.40HUF MOL HUNGARIAN OIL & GAS -A- 20,000 1,659,609.66 0.38BRL MRV ENGENHARIA 810,000 5,235,952.55 1.20ZAR MTN GROUP 350,000 6,282,840.04 1.44TWD NAN YA PLASTICS 2,300,000 4,185,537.22 0.96ZAR NASPERS -N- 80,000 3,599,084.60 0.82USD NOVATEK GDR 11,000 1,676,400.00 0.38BRL OGX PETROLEO E GAS PARTICIPACOES 840,000 6,506,530.38 1.49USD ORASCOM CONSTRUCTION INDUSTRIES GDR 50,000 1,800,000.00 0.41HKD PETROCHINA -H- 8,000,000 9,836,013.38 2.25USD PETROLEO BRASILIERO ADR 630,000 17,003,700.00 3.89HKD PING AN INSURANCE COMPANY OF CHINA -H- 1,000,000 6,578,348.38 1.51PLN POLISH TELECOM 250,000 1,385,159.07 0.32PLN POWSZECHNY ZAKLAD UBEZPIECZEN 15,000 1,434,875.05 0.33IDR PT ASTRA INTERNATIONAL 2,000,000 15,565,311.89 3.56IDR PT BANK MANDIRI (PERSERO) 4,000,000 2,810,098.62 0.64IDR PT TAMBANG BATUBARA BUKIT ASAM

(PERSERO) -B-1,090,500 2,034,961.46 0.47

THB PTT PUBLIC COMPANY LIMITED (nvdr) 400,000 3,926,852.32 0.90HKD RENHE COMMERCIAL HOLDINGS 18,000,000 2,453,858.99 0.56USD ROSNEFT OIL COMPANY (reg. shares) GDR 550,000 4,004,000.00 0.92KRW SAMSUNG ELECTRONICS 40,000 35,144,832.53 8.03KRW SAMSUNG HEAVY INDUSTRIES 180,000 4,702,021.54 1.08ZAR SANLAM 500,000 1,850,908.40 0.42ZAR SASOL 80,000 3,843,863.84 0.88USD SBERBANK OF RUSSIA 2,000,000 5,640,000.00 1.29USD SEVERSTAL GDR (reg. -S-) S. OCT06 80,000 1,080,800.00 0.25ZAR SHOPRITE HOLDINGS LTD 80,000 1,348,162.66 0.31ZAR STANDARD BANK GROUP 200,000 2,426,554.50 0.56USD SURGUTNEFTEGAZ ADR 160,000 1,530,400.00 0.35TWD TAIWAN SEMICONDUCTOR MANUFACTURING 9,076,725 22,322,986.63 5.11ZAR TIGER BRANDS 45,000 1,361,214.10 0.31USD TRUBNAYA METALLURGICHESKAYA

KOMPANYA (reg. shares) ADR120,000 1,408,800.00 0.32

TRY TURKIYE GARANTI BANKASI (reg. shares) 400,000 1,372,431.18 0.31TRY TURKIYE IS BANKASI -C- 500,000 1,035,900.58 0.24USD VALE ADR 420,000 9,765,000.00 2.23




Statement of Investments in Securities and Other Net Assets (Continued)



assets(in USD)

ZAR VODACOM GROUP 100,000 1,128,572.57 0.26




Cash at banks 16,860,282.14 3.86

Due to banks -16,449,508.26 -3.76


Total net assets 436,923,246.87 100.00


Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property




USDD 3675135 LU0339603952 0.00% 0.18%Capitalisation - USDI 3675139 LU0339604091 0.90% 1.27%Capitalisation - CHFR 3675144 LU0339604174 1.92% 2.30%Capitalisation - EURR 3675145 LU0339604257 1.92% 2.32%Capitalisation -

Technical Data

USDB 29.41%20.11%-36.00%-26.61%Capitalisation - 2009YTD 2010Since Inception

USDD //-20.57%/Capitalisation - USDI //-27.02%-25.89%Capitalisation - CHFR 27.04%18.14%-40.20%-27.69%Capitalisation - EURR 27.07%18.70%-40.60%-27.47%Capitalisation -

Fund Performance


Notes

There is no management fee for D-shares





193,489USD EUR -144,158 -496.2321.12.2011Credit Suisse AG, GL. Foreign Ex. London

182,155USD CHF -165,306 525.7321.12.2011Credit Suisse AG, GL. Foreign Ex. London




97,472CHF USD -106,294 802.7321.12.2011Credit Suisse AG, GL. Foreign Ex. London













122,213USD CHF -112,130 -990.0621.12.2011Credit Suisse AG, GL. Foreign Ex. London

203,101USD EUR -150,458 639.6921.12.2011Credit Suisse AG, GL. Foreign Ex. London

-140,467.71Unrealised loss on forward foreign exchange contracts





Assets

Investments in securities at market value 14,593,944.45Cash at banks 205,426.27Subscriptions receivable 7,729.52Income receivable 10,946.22Other assets 5.56

14,818,052.02

Liabilities

Due to banks 76.61Provisions for accrued expenses 36,718.96Other liabilities 140,467.71

177,263.28

14,640,788.74Net assets


30.11.2011


794.34 /USDD 1,027.64Capitalisation -

729.82 /USDI 948.88Capitalisation -



Total net assets


14,640,788.74 19,708,161.21 7,235,904.19USD

Fund Evolution 30.11.2011 31.05.2011 31.05.2010


2,425.000 1,150.000D 1,275.000 0.000Capitalisation - USD

7,406.006 1,250.000I 7,406.006 1,250.000Capitalisation - USD












Income

Dividends (net) 183,739.23Bank interest 285.11Other income 8,642.42

192,666.76

Expenses

Management fee 118,102.60Custodian and safe custody fees 11,959.50Administration expenses 9,324.37Audit, control, legal, representative bank and other expenses 8,312.38"Taxe d'abonnement" 3,379.70Amortisation of formation expenses 0.01

151,078.56



Net realised gain (loss) on sales of investments -1,243,930.75Net realised gain (loss) on forward foreign exchange contracts 37,854.50Net realised gain (loss) on foreign exchange -60,899.37

-1,266,975.62



Change in net unrealised appreciation (depreciation) on investments -3,436,547.42Change in net unrealised appreciation (depreciation) on forward foreign exchange contracts -407,246.95

-3,843,794.37




1,809.32




30.11.2011






40.10BrazilBreakdown by Country

13.24South Africa10.08Philippines8.49Indonesia7.58Malaysia5.31Thailand3.53PR China2.80Hong Kong1.94Singapore1.79Chile1.60United Arab Emirates1.56Turkey1.14Mexico0.52India

99.68Total

69.05Real estateBreakdown by Economic Sector

14.70Building materials and building industry4.50Investment trusts/funds4.08Miscellaneous services3.12Financial, investment and other div. companies1.70Retailing, department stores1.68Forestry, paper and forest products0.85Lodging and catering industry, leisure facilities

99.68Total




assets(in USD)



TRY ALARKO GAYRIMENKUL YATIRIM ORTAKLIGI 3,000 28,281.73 0.19BRL ALIANSCE SHOPPING CENTERS 25,500 199,500.53 1.36USD AMBUJA CEMENTS GDR 26,500 75,739.65 0.52SGD ASCENDAS INDIA TRUST 540,000 284,488.58 1.94PHP AYALA LAND 1,664,400 595,245.84 4.08BRL BR MALLS PARTICIPACOES 101,902 1,035,275.20 7.08BRL BR PROPERTIES 39,800 397,723.77 2.72BRL BROOKFIELD INCORPORACOES 57,284 188,801.11 1.29MYR CAPITAMALLS MALAYSIA TRUST 354,000 155,923.98 1.06THB CENTRAL PATTANA (for. reg.) 76,000 90,824.50 0.62THB CENTRAL PATTANA PUBLIC (nvdr) 123,000 146,992.28 1.00HKD CHINA VANKE -B- 375,219 357,098.29 2.44MXN CONSORCIO ARA 400 113.18 0.00MXN CORPORACION GEO -B- 54,700 63,241.86 0.43BRL CYRELA BRAZIL REALTY 76,100 634,641.39 4.34MXN DESARROLLADORA HOMEX 12,400 24,506.14 0.17MYR EASTERN & ORIENTAL 225,000 98,396.34 0.67AED EMAAR PROPERTIES 317,000 233,888.25 1.60TRY EMLAK KONUT GAYRIMENKUL YATIRIM 170,000 201,260.67 1.37BRL EVEN CONSTRUTORA INCORPORADORA 52,100 187,903.92 1.28BRL EZ TEC EMPREENDIMENTOS PARTICIPACOES 19,800 170,287.06 1.16PHP FILINVEST LAND 7,592,000 189,712.86 1.30ZAR FOUNTAINHEAD PROPERTY TRUST 236,000 189,412.51 1.29BRL GAFISA 63,100 188,013.23 1.28BRL GENERAL SHOPPING BRASIL 6,000 39,284.21 0.27MYR GLOMAC 226,000 57,593.71 0.39ZAR GROWTHPOINT PROPERTIES (units) 375,231 852,047.36 5.83HKD GUANGZHOU R&F PROPERTIES -H- 204,000 160,040.99 1.09BRL HELBOR EMPREENDIMENTOS 17,400 202,263.74 1.38MYR IGB 243,410 151,630.03 1.04BRL IGUATEMI EMPRESA DE SHOPPING CENTERS 13,600 249,550.16 1.70BRL JHSF PARTICIPACOES 18,700 51,775.81 0.35MYR KLCC PROPERY HOLDINGS BERHAD 98,000 95,580.52 0.65THB LAND AND HOUSE PUBLIC 1,056,000 201,578.42 1.38THB LPN DEVELOPMENT PUBLIC (nvdr) 466,000 173,423.14 1.18PHP MEGAWORLD CORPORATION 4,201,000 173,356.15 1.18BRL MRV ENGENHARIA 89,300 577,247.61 3.95BRL MULTIPLAN EMPREENDIMENTOS

IMOBILIARIOS14,700 295,264.11 2.02

CLP PARQUE ARAUCO 151,035 262,605.49 1.79BRL PDG REALTY EMPREENDIMENTOS E

PARTICIPACOES257,520 960,207.28 6.57

HKD POLY (HONG KONG) INVESTMENTS 453,000 177,692.57 1.21IDR PT ALAM SUTERA REALTY 4,700,000 219,264.53 1.50IDR PT BAKRIELAND DEVELOPMENT 10,848,000 125,031.83 0.85IDR PT CIPUTRA DEVELOPMENT 5,445,000 292,870.45 2.00IDR PT LIPPO KARAWACI TBK 5,209,750 360,279.07 2.46IDR PT SUMMARECON AGUNG TBK 2,119,000 246,557.61 1.68ZAR REDEFINE PROPERTIES (units) 515,000 486,465.40 3.32ZAR RESILIENT PROPERTY INCOME 54,000 224,501.98 1.53BRL ROSSI RESIDENCIAL 31,000 171,491.11 1.17ZAR SA CORPORATE REAL ESTATE FUND (units) 458,000 186,621.95 1.27THB SC ASSET CORPORATION PUBLIC COMPANY

LIMITED (for. reg.)189,800 75,505.93 0.52

PHP SM PRIME HOLDINGS 1,148,000 333,188.24 2.28BRL SONEA SIERRA BRASIL 6,600 85,839.33 0.59MYR SP SETIA 415,000 501,373.00 3.42MYR SUNWAY BERHAD 59,257 43,998.04 0.30MYR SUNWAY BERHAD (wts) 17.08.2016 39,051 6,941.64 0.05THB SUPALAI PUBLIC CO (for. reg.) 220,000 88,931.66 0.61BRL TECNISA 38,400 233,095.19 1.59MXN URBI DESARROLLOS URBANOS 68,200 79,603.82 0.54PHP VISTA LAND % LIFESCAPES 2,735,000 181,831.61 1.24HKD YUEXIU PROPERTY 1,640,900 232,137.89 1.59




Cash at banks 205,426.27 1.40



Total net assets 14,640,788.74 100.00


Credit Suisse SICAV One (Lux) Equity Japan Value


JPYB 11145891 LU0496466821 1.92% 2.19%Capitalisation -


JPYF 11145903 LU0496467472 0.50% 0.73%Capitalisation -

Technical Data

JPYB -12.60%/Capitalisation - YTD Since Inception

JPYF -7.45%-10.95%Capitalisation -

Fund Performance


Notes

As of 30.11.2011 the subfund participated in the "securities lending" - system for a global market value of JPY 204,635,700.00.

Securities Lending


Assets

Investments in securities at market value 11,143,490,900.00Income receivable 158,009,610.20Formation expenses 3,450,420.00Other assets 116,733.00

11,305,067,663.20

Liabilities

Due to banks 28,969,626.00Provisions for accrued expenses 10,837,047.17

39,806,673.17

11,265,260,990.03Net assets

Statement of Net Assets in JPY and Fund Evolution

30.11.2011

874.00JPYB 960.00Capitalisation -

4,807.00JPYF 5,240.00Capitalisation -

Total net assets


11,265,260,990.03 8,476,416,476.24JPY

Fund Evolution 30.11.2011 31.05.2011

2,737,753.539 2,834,104.451B 135,291.511 231,642.423Capitalisation - JPY

1,845,930.222 2,245,943.313F 1,592,900.218 1,992,913.309Capitalisation - JPY









Net assets at the beginning of the period 8,476,416,476.24

Income

Dividends (net) 204,484,669.84Other income 157,920.00

204,642,589.84

Expenses

Management fee 59,042,357.90Custodian and safe custody fees 3,938,518.05Administration expenses 8,931,408.00Printing and publication expenses 1,917,455.00Interest and bank charges 130,869.96Audit, control, legal, representative bank and other expenses 3,749,546.00"Taxe d'abonnement" 1,487,313.92Amortisation of formation expenses 477,630.00

79,675,098.83



Net realised gain (loss) on sales of investments -1,010,356,162.40Net realised gain (loss) on foreign exchange 0.01

-1,010,356,162.39



Change in net unrealised appreciation (depreciation) on investments -1,093,298,188.55-1,093,298,188.55

Net increase (decrease) in net assets as a result of operations -1,978,686,859.93


Subscriptions 14,761,344,681.72Redemptions -9,993,813,308.00

4,767,531,373.72

Net assets at the end of the period 11,265,260,990.03

Statement of Operations / Changes in Net Assets in JPY


30.11.2011






97.78JapanBreakdown by Country

1.14USA98.92Total

18.25Mechanical engineering and industrial equipmentBreakdown by Economic Sector

13.09Food and soft drinks8.38Energy and water supply6.82Financial, investment and other div. companies6.71Miscellaneous trading companies5.57Real estate5.49Building materials and building industry4.25Electrical appliances and components3.56Packaging industries3.45Traffic and transportation3.24Electronics and semiconductors2.85Chemicals2.62Graphics publishing and printing media2.58Banks and other credit institutions2.44Telecommunication2.38Internet, software and IT services1.63Aeronautic and astronautic industry1.26Retailing, department stores1.24Computer hardware and networking1.10Agriculture and fishery1.08Mining, coal and steel industry0.93Vehicles

98.92Total




assets(in JPY)



JPY ADVANCE RESIDENCE INVESTMENT 1,000 143,000,000.00 1.27JPY ARIAKE JAPAN 100,000 145,600,000.00 1.29JPY ASAHI HOLDINGS 100,000 153,800,000.00 1.37JPY ASATSU-DK 60,000 113,640,000.00 1.01JPY BANK OF OKINAWA 42,400 148,824,000.00 1.32JPY BENESSE HOLDING 40,000 139,200,000.00 1.24JPY CHIYODA 120,000 99,360,000.00 0.88JPY CHUDENKO 190,000 156,370,000.00 1.39JPY COCA-COLA CENTRAL JAPAN 150,000 150,000,000.00 1.33JPY DAIBIRU 350,000 178,500,000.00 1.58JPY DAIICHI JITSUGYO 425,000 127,500,000.00 1.13JPY ENSUIKO SUGAR REFINING 563,000 99,651,000.00 0.88JPY FUJIMORI KOGYO 110,000 124,190,000.00 1.10JPY FUJITEC 400,000 167,200,000.00 1.48JPY FURUNO ELECTRONIC 500,000 195,000,000.00 1.73JPY GAKKEN 1,200,000 181,200,000.00 1.61JPY HOKKAIDO ELECTRIC POWER 120,000 123,840,000.00 1.10JPY HOKKAIDO GAS 656,000 170,560,000.00 1.51JPY HOKUTO 75,000 123,375,000.00 1.10JPY ITOCHU-SHOKUHIN 62,000 165,230,000.00 1.47JPY IWATANI 500,000 133,000,000.00 1.18JPY JBCC HOLDINGS 407,300 208,130,300.00 1.84JPY JX HOLDINGS 250,000 120,250,000.00 1.07JPY KAMEI 300,000 202,800,000.00 1.80JPY KANADEN 390,000 198,900,000.00 1.77JPY KATO SANGYO 100,000 157,800,000.00 1.40JPY KOMORI 300,000 142,200,000.00 1.26JPY MARUYAMA MFG 1,000,000 168,000,000.00 1.49JPY MEIWA 725,000 151,525,000.00 1.35JPY MIKUNI COCA-COLA BOTTLING 285,000 196,080,000.00 1.74JPY MITSUBISHI HEAVY INDUSTRIES 350,000 111,300,000.00 0.99JPY MITSUBISHI KAKOKI KAISHA 1,000,000 129,000,000.00 1.15JPY MITSUBISHI LOGISTICS 150,000 117,000,000.00 1.04JPY MITSUBISHI SHOKUHIN 100,000 193,500,000.00 1.72JPY MITSUBISHI STEEL 600,000 121,800,000.00 1.08JPY MITSUI-SOKO 650,000 177,450,000.00 1.58JPY NAGOYA RAILROAD 700,000 144,900,000.00 1.29JPY NICHIREI 400,000 143,200,000.00 1.27JPY NIHON SHOKUHIN KAKO 319,000 102,080,000.00 0.91JPY NIHON YAMAMURA GLASS 850,000 154,700,000.00 1.37JPY NIKKISO 250,000 160,750,000.00 1.43JPY NIPPON KONPO UNYU SOLO 175,000 126,525,000.00 1.12JPY NIPPON VALQUA INDUSTRIES 900,000 169,200,000.00 1.50JPY NITTO FUJI FLOUR 254,000 76,708,000.00 0.68JPY NTT URBAN DEVELOPMENT 2,500 128,500,000.00 1.14JPY OENON HOLDINGS 1,025,000 183,475,000.00 1.63JPY OKINAWA CELLULAR TELEPHONE 850 134,980,000.00 1.20JPY OKINAWA ELECTRIC POWER 50,000 163,250,000.00 1.45JPY ORACLE CORP JAPAN 50,000 128,300,000.00 1.14JPY RAITO KOGYO 400,000 146,800,000.00 1.30JPY RENGO 225,000 122,850,000.00 1.09JPY RYODEN TRADING 400,000 170,000,000.00 1.51JPY SAIBU GAS 800,000 164,000,000.00 1.46JPY SATO HOLDINGS 150,000 139,500,000.00 1.24JPY SEC CARBON 573,000 159,294,000.00 1.41JPY SEIKA 990,000 207,900,000.00 1.85JPY SHIBUYA KOGYO 239,000 183,074,000.00 1.63JPY SHINMAYWA INDUSTRIES 600,000 161,400,000.00 1.43JPY SHIZUOKAGAS 370,000 189,810,000.00 1.68JPY SHOWA AIRCRAFT INDUSTRY 400,000 183,600,000.00 1.63JPY SOHGO SECURITY SERVICES 150,000 121,050,000.00 1.07JPY SPARX GROUP 22,730 102,739,600.00 0.91JPY STARZEN 900,000 202,500,000.00 1.80JPY SUMITOMO FORESTRY 200,000 129,800,000.00 1.15JPY SUMITOMO WAREHOUSE 400,000 142,400,000.00 1.26JPY TAISEI LAMICK 80,000 189,600,000.00 1.68JPY TECHNO RYOWA 480,000 185,760,000.00 1.65JPY TEIKOKU ELECTRIC MFG 100,000 142,900,000.00 1.27JPY TOKYO BROADCASTING SYSTEM HOLDINGS 150,000 139,200,000.00 1.24JPY TOKYO SANGYO 778,000 186,720,000.00 1.66JPY TOKYO TOMIN BANK 150,000 142,500,000.00 1.26JPY TORISHIMA PUMP MFG 150,000 148,050,000.00 1.31JPY TOYOTA INDUSTRIES 50,000 104,700,000.00 0.93JPY YUSHIN PRECISION EQUIPMENT 90,000 126,000,000.00 1.12

Securities listed on a stock exchange or other organised markets:Shares (and equity-type securities) 11,143,490,900.00 98.92

Shares (and equity-type securities) 11,143,490,900.00 98.92

Total of Portfolio 11,143,490,900.00 98.92

Due to banks -28,969,626.00 -0.26

Other net assets 150,739,716.03 1.34

Total net assets 11,265,260,990.03 100.00


Credit Suisse SICAV One (Lux) European Equity Dividend Plus


EURA 10348225 LU0439729285 1.60% 2.00%Distribution -


EURB 10348228 LU0439729368 1.60% 2.08%Capitalisation - EURD 10348386 LU0439729442 0.00% 0.06%Capitalisation - EURF 10445642 LU0445923476 0.50% 0.76%Capitalisation - EURI 10348388 LU0439729798 0.70% 1.00%Capitalisation - CHFR 12634678 LU0603361998 1.60% 1.92%Capitalisation - CHFS 10348390 LU0439729954 0.70% 1.00%Capitalisation -

Technical Data

EURA 7.90%4.50%-8.99%Distribution - YTD 2010Since Inception

EURB 7.80%4.40%-8.98%Capitalisation - EURD 10.30%9.54%-7.33%Capitalisation - EURF 9.41%7.70%-7.93%Capitalisation - EURI 9.14%5.18%-8.13%Capitalisation - CHFR /7.00%/Capitalisation - CHFS /4.45%-9.25%Capitalisation -

Fund Performance


Notes

There is no management fee for the share D. As per 01.06.2011 the management fee was reduced from 1.92% to 1.60% for the following classes: Credit SuisseSICAV One (Lux) European Equity Dividend Plus -A-, -B-, -R- CHF.

A Distribution- EUR 14.06.2011 0.22

Ex-Date Amount

Distributions


Securities Lending

3,566,227CHF EUR -2,970,371 -58,461.3321.12.2011Credit Suisse AG, GL. Foreign Ex. London

150,198EUR CHF -183,993 -36.2921.12.2011Credit Suisse AG, GL. Foreign Ex. London







206,545CHF EUR -169,996 -1,346.9721.12.2011Credit Suisse AG, GL. Foreign Ex. London

31,922CHF EUR -25,968 97.4521.12.2011Credit Suisse AG, GL. Foreign Ex. London

162,029CHF EUR -133,029 -728.2021.12.2011Credit Suisse AG, GL. Foreign Ex. London

47,157CHF EUR -38,717 -211.9321.12.2011Credit Suisse AG, GL. Foreign Ex. London


170,311EUR CHF -210,675 -1,709.2321.12.2011Credit Suisse AG, GL. Foreign Ex. London


15,050CHF EUR -12,269 19.9921.12.2011Credit Suisse AG, GL. Foreign Ex. London






Assets

Investments in securities at market value 208,974,435.48Cash at banks 1,089,996.48Subscriptions receivable 3,354.44Income receivable 704,052.27Formation expenses 23,452.20

210,795,290.87

Liabilities

Redemptions payable 419,375.20Provisions for accrued expenses 173,483.44Other liabilities 62,691.74

655,550.38

210,139,740.49Net assets


30.11.2011

10.11 10.29EURA 11.62Distribution -


1,095.44 1,046.78EURD 1,224.21Capitalisation -

1,077.03 1,040.03EURF 1,207.73Capitalisation -

1,051.81 1,019.32EURI 1,180.87Capitalisation -

9.30 /CHFR 10.61Capitalisation -

1,044.46 1,029.60CHFS 1,185.21Capitalisation -

Total net assets


210,139,740.49 226,238,155.36 164,571,843.68EUR

Fund Evolution 30.11.2011 31.05.2011 31.05.2010

75,313.182 36,596.376A 40,216.806 1,500.000Distribution - EUR

6,746,367.904 1,334,104.672B 6,105,385.252 693,122.020Capitalisation - EUR

38,035.031 0.000D 38,035.031 0.000Capitalisation - EUR

72,663.000 10,523.000F 71,406.000 9,266.000Capitalisation - EUR

15,137.701 973.504I 15,068.462 904.265Capitalisation - EUR


2,982.288 0.000S 2,982.288 0.000Capitalisation - CHF










Income

Dividends (net) 3,244,099.85Bank interest 5,846.17Other income 221,495.37

3,471,441.39

Expenses

Management fee 773,822.12Custodian and safe custody fees 40,503.80Administration expenses 107,450.66Printing and publication expenses 5,798.00Audit, control, legal, representative bank and other expenses 34,310.57"Taxe d'abonnement" 25,862.65Amortisation of formation expenses 4,236.14

991,983.94



Net realised gain (loss) on sales of investments -6,245,082.37Net realised gain (loss) on forward foreign exchange contracts 217,743.88Net realised gain (loss) on foreign exchange 48,359.14

-5,978,979.35




-21,524,546.97




8,935,085.28





30.11.2011






37.28United KingdomBreakdown by Country

13.30France12.86Switzerland9.67Germany6.29Netherlands4.34Sweden3.87Italy3.51Norway2.43Finland2.02Spain1.83Bermuda0.96Luxembourg0.77Jersey0.32Czech Republic

99.45Total


11.42Pharmaceuticals, cosmetics and medical products10.56Telecommunication8.31Food and soft drinks8.19Banks and other credit institutions4.97Insurance companies4.79Energy and water supply4.60Chemicals4.26Tobacco and alcoholic beverages4.08Retailing, department stores4.07Financial, investment and other div. companies3.85Electrical appliances and components3.57Mining, coal and steel industry2.91Building materials and building industry1.65Graphics publishing and printing media1.55Traffic and transportation1.19Forestry, paper and forest products1.14Computer hardware and networking0.92Mechanical engineering and industrial equipment0.84Aeronautic and astronautic industry0.82Investment trusts/funds0.80Miscellaneous services0.70Vehicles0.60Internet, software and IT services0.35Miscellaneous trading companies

99.45Total




assets(in EUR)



EUR ALLIANZ SE (reg. shares) 21,282 1,638,288.36 0.78GBP ASHMORE GROUP 323,631 1,274,635.00 0.61GBP ASTRAZENECA 113,512 3,899,115.32 1.86EUR ATLANTIA 139,753 1,595,979.26 0.76GBP AVIVA 602,238 2,193,218.66 1.04EUR AXA 179,512 1,924,368.64 0.92GBP BAE SYSTEMS 551,817 1,764,602.33 0.84CHF BANQUE CANTONALE VAUDOISE 5,366 1,958,817.74 0.93EUR BASF (reg. shares) 86,580 4,678,783.20 2.23GBP BHP BILLITON 328,074 7,470,688.47 3.57EUR BOUYGUES 48,416 1,173,845.92 0.56GBP BRITISH AMERICAN TOBACCO 162,040 5,575,508.82 2.65GBP BRITVIC 315,629 1,251,969.23 0.60GBP CARILLION 457,009 1,657,919.09 0.79EUR CASINO GUICHARD PERRACHON 20,225 1,335,254.50 0.64GBP CATLIN GROUP 261,847 1,266,251.58 0.60CZK CESKE ENERGETICKE ZAVODY 23,076 678,302.85 0.32CHF CS GROUP (reg. shares) 123,321 2,210,356.81 1.05EUR DAIMLER (reg. shares) 43,887 1,475,042.07 0.70EUR DEUTSCHE BOERSE (reg. shares) 47,057 2,135,917.23 1.02EUR DEUTSCHE POST (reg. shares) 147,915 1,658,866.73 0.79GBP DIAGEO 212,910 3,388,052.58 1.61NOK DNB ASA 289,516 2,192,229.74 1.04EUR ENI 248,217 3,892,042.56 1.85EUR FORTUM 119,407 2,037,083.42 0.97EUR FRANCE TELECOM 68,542 877,337.60 0.42EUR FREENET (reg. shares) 128,040 1,254,151.80 0.60EUR FUGRO CERT. 42,174 1,750,853.61 0.83EUR GDF SUEZ 112,829 2,345,150.77 1.12GBP GLAXOSMITHKLINE 406,358 6,663,435.61 3.18SEK HENNES & MAURITZ STOCKHOLM -B- 83,500 1,968,330.90 0.94GBP HSBC HOLDINGS 1,045,593 6,040,959.68 2.87GBP ICAP 297,250 1,233,940.00 0.59EUR INDRA SISTEMAS 61,939 646,952.86 0.31GBP INTERMEDIATE CAPITAL GROUP 357,066 1,003,322.50 0.48GBP J. SAINSBURY 437,819 1,555,052.88 0.74EUR KONECRANES 71,105 1,137,680.00 0.54EUR KONINKLIJKE BOSKALIS WESTMINSTER 43,001 1,071,154.91 0.51EUR KONINKLIJKE DSM 73,585 2,653,475.10 1.26EUR KONINKLIJKE KPN 219,164 1,992,200.76 0.95EUR L'AIR LIQUIDE 24,835 2,333,496.60 1.11GBP LEGAL & GENERAL GROUP 888,553 1,101,477.66 0.52GBP MAN GROUP 439,063 727,924.29 0.35EUR MEDIASET 316,329 693,393.17 0.33GBP MICRO FOCUS INTERNATIONAL 105,542 447,249.48 0.21EUR MUENCHENER RUECKVERSICHERUNGS-

GESELLSCHAFT (reg. shares)24,844 2,329,125.00 1.11

GBP NATIONAL GRID 412,808 3,012,017.71 1.43CHF NESTLE (reg. shares) 209,920 8,763,800.20 4.18CHF NOVARTIS (reg. shares) 71,166 2,858,373.21 1.36NOK ORKLA 353,906 2,003,465.08 0.95GBP PEARSON 196,447 2,646,376.81 1.26EUR PPR 18,747 2,084,666.40 0.99GBP RECKITT BENCKISER GROUP 44,957 1,690,811.81 0.80CHF ROCHE HOLDING (cert. shares) 50,864 6,019,653.93 2.86EUR ROYAL DUTCH SHELL -A- 356,206 9,218,611.28 4.40GBP SAGE GROUP 577,792 1,958,376.67 0.93EUR SANOFI 87,227 4,543,654.43 2.16EUR SCHNEIDER ELECTRIC 20,440 858,480.00 0.41NOK SEADRILL 100,210 2,588,678.75 1.23SEK SECURITAS -B- 188,962 1,235,358.65 0.59EUR SES 110,312 2,018,158.04 0.96EUR SIEMENS (reg. shares) 31,031 2,327,014.69 1.11EUR SNAM RETE GAS 568,338 1,955,082.72 0.93GBP SSE 135,256 2,078,065.66 0.99GBP STANDARD CHARTERED 125,103 2,022,929.69 0.96NOK STATOIL ASA 166,601 3,198,831.88 1.52SEK SVENSKA CELLULOSA -B- 227,250 2,508,242.23 1.19SEK SVENSKA HANDELSBANKEN -A- 100,200 1,962,444.30 0.93CHF SWISSCOM (reg. shares) 5,249 1,473,764.28 0.70GBP TATE & LYLE 192,005 1,508,626.74 0.72EUR TELEFONICA 257,531 3,600,283.38 1.71SEK TELE2 -B- 98,450 1,456,429.93 0.69EUR TOTAL 137,731 5,279,917.89 2.51EUR UNILEVER (cert. shares) 154,552 3,909,392.84 1.86EUR VINCI 66,701 2,208,136.61 1.05EUR VIVENDI 173,420 2,968,950.40 1.41GBP VODAFONE GROUP 2,625,515 5,282,319.00 2.51CHF VONTOBEL HOLDING 44,142 852,071.74 0.41EUR WAERTSILAE -B- 79,590 1,938,016.50 0.92GBP WH SMITH 263,342 1,615,311.95 0.77EUR WINCOR NIXDORF 30,191 1,074,195.78 0.51EUR WOLTERS KLUWER 143,962 1,857,109.80 0.88GBP WPP 208,367 1,626,231.52 0.77







assets(in EUR)

CHF ZURICH FINANCIAL SERVICES (reg. shares) 17,680 2,887,502.45 1.37





EUR ISHARES DJ EURO STOXX 50 72,996 1,729,275.24 0.82



Securities not listed on a stock exchange: Shares (and equity-type securities)


EUR IMMOEAST (rights) 31.12.2099 7,953 0.00 0.00

Securities not listed on a stock exchange: Shares (and equity-typesecurities) 0.00 0.00

Shares (and equity-type securities) 0.00 0.00


Cash at banks 1,089,996.48 0.52


Total net assets 210,139,740.49 100.00


Credit Suisse SICAV One (Lux) Global Convertibles




USDD 10169271 LU0426279849 0.00% 0.06%Capitalisation - CHFR 10639345 LU0457025020 1.20% 1.45%Capitalisation - CHFS 10627511 LU0456270122 0.70% 0.95%Capitalisation - EURR 10639347 LU0457025293 1.20% 1.46%Capitalisation - EURS 10627572 LU0456270395 0.70% 0.96%Capitalisation - EURT 12916510 LU0621205250 0.35% 0.56%Capitalisation -

Technical Data

USDB 8.82%4.51%-5.40%Capitalisation - YTD 2010Since Inception

USDD /6.07%-4.18%Capitalisation - CHFR 7.80%3.63%-6.06%Capitalisation - CHFS /-1.68%-5.65%Capitalisation - EURR 8.25%5.78%-5.45%Capitalisation - EURS 8.86%5.18%-4.89%Capitalisation - EURT /-8.80%/Capitalisation -

Fund Performance


Notes

There is no management fee for the share D.

1,021,000USD AUD -1,000,000 -4,560.6814.12.2011Credit Suisse Zürich

34,000,625USD EUR -25,000,000 354,428.7214.12.2011Credit Suisse Zürich

5,761,475USD HKD -45,000,000 -26,369.9114.12.2011Credit Suisse Zürich

11,581,755USD JPY -890,000,000 116,267.4914.12.2011Credit Suisse Zürich

607,780USD SGD -750,000 22,393.3814.12.2011Credit Suisse Zürich

58,963,505EUR USD -80,809,483 -1,465,773.7621.12.2011Credit Suisse AG, GL. Foreign Ex. London


76,000,000JPY USD -996,872 -17,797.0014.12.2011Credit Suisse Zürich

500,000EUR USD -676,350 -3,424.5014.12.2011Credit Suisse Zürich
















400,000EUR USD -533,960 4,380.4014.12.2011Credit Suisse Zürich




1,915,340USD EUR -1,400,000 31,155.5214.12.2011Credit Suisse Zürich








418,020USD EUR -300,000 14,267.8714.12.2011Credit Suisse Zürich


706,700USD EUR -500,000 33,782.0014.12.2011Credit Suisse Zürich



179,718USD JPY -14,000,000 -638.2214.12.2011Credit Suisse Zürich











737,380USD GBP -460,000 13,992.2414.12.2011Credit Suisse Zürich

135,178USD CHF -122,661 404.9921.12.2011Credit Suisse AG, GL. Foreign Ex. London




1,327,443USD EUR -988,416 -2,611.4021.12.2011Credit Suisse AG, GL. Foreign Ex. London



391,236USD JPY -30,000,000 4,759.1214.12.2011Credit Suisse Zürich





250,000EUR USD -331,869 4,594.0014.12.2011Credit Suisse Zürich


-2,052,946.90Unrealised loss on forward foreign exchange contracts





Assets

Investments in securities at market value 124,357,486.32Cash at banks 4,791,313.25Subscriptions receivable 101,816.18Income receivable 875,155.49Formation expenses 36,060.18Other assets 1,109.45

130,162,940.87

Liabilities

Due to banks 0.61Redemptions payable 138,913.66Provisions for accrued expenses 115,425.35Other liabilities 2,052,946.90

2,307,286.52

127,855,654.35Net assets


30.11.2011


1,060.69 995.77USDD 1,156.73Capitalisation -


983.24 947.86CHFS 1,083.45Capitalisation -


1,051.83 1,002.96EURS 1,153.10Capitalisation -

911.98 /EURT 999.60Capitalisation -

Total net assets


127,855,654.35 177,794,047.07 92,193,221.08USD

Fund Evolution 30.11.2011 31.05.2011 31.05.2010


25,955.000 0.000D 37,955.000 12,000.000Capitalisation - USD


12,490.000 800.000S 11,850.000 160.000Capitalisation - CHF


44,574.483 1,085.568S 58,731.014 15,242.099Capitalisation - EUR

4,687.173 2,556.922T 2,409.480 279.229Capitalisation - EUR










Income

Interest on investments in securities (net) 1,664,264.77Dividends (net) 58,554.94Bank interest 6,074.93

1,728,894.64

Expenses


566,973.76



Net realised gain (loss) on sales of investments 399,961.73Net realised gain (loss) on forward foreign exchange contracts -148,332.91Net realised gain (loss) on foreign exchange 29,235.52

280,864.34

Net realised gain (loss) 1,442,785.22


Change in net unrealised appreciation (depreciation) on investments -17,223,159.38Change in net unrealised appreciation (depreciation) on forward foreign exchange contracts -5,127,798.06

-22,350,957.44




-29,030,220.50




30.11.2011







8.03Japan7.32France4.54Germany4.45Luxembourg3.88Cayman Islands3.08Virgin Islands (UK)2.80Jersey2.13Singapore2.06Netherlands1.77India1.69United Kingdom1.65United Arab Emirates1.60PR China1.58Sweden1.57Austria1.46Taiwan1.45Bermuda1.44South Korea1.05Canada1.02Mexico0.86Hungary0.77Portugal0.72Isle of Man0.64Norway0.62Malaysia0.60Australia0.59Belgium0.51Bahamas0.51Philippines0.48Spain0.23Hong Kong

97.26Total

17.66Financial, investment and other div. companiesBreakdown by Economic Sector

11.21Electronics and semiconductors7.37Banks and other credit institutions6.84Petroleum6.80Pharmaceuticals, cosmetics and medical products6.31Mining, coal and steel industry5.17Real estate4.77Biotechnology4.20Computer hardware and networking3.81Internet, software and IT services2.73Building materials and building industry2.32Telecommunication2.11Lodging and catering industry, leisure facilities2.05Miscellaneous services1.97Vehicles1.95Retailing, department stores1.50Tobacco and alcoholic beverages1.44Miscellaneous trading companies1.31Traffic and transportation1.22Energy and water supply

1.16Graphics publishing and printing media0.79Food and soft drinks0.68Electrical appliances and components0.64Healthcare and social services0.58Mechanical engineering and industrial equipment0.35Rubber and tires0.19Precious metals and precious stones0.13Insurance companies

97.26Total








assets(in USD)


Bonds

EUR AABAR INVEST 4%/11-27.05.2016 1,800,000 2,108,507.05 1.65JPY AEON S. 6 0%/09-22.11.2012 35,000,000 530,459.74 0.41JPY AEON S. 7 0.30%/09-22.11.2013 75,000,000 1,135,192.30 0.89EUR AIR FRANCE - KLM 2.75%/05-01.04.2020 410,000 545,451.41 0.43EUR AIR FRANCE - KLM 4.97%/09-01.04.2015 413,000 472,922.26 0.37EUR ALCATEL-LUCENT 5%/09-01.01.2015 1,065,900 1,013,052.60 0.79USD ALLIANCE DATA SYSTEMS 1.75%/09-

01.08.20131,000,000 1,360,000.00 1.06

USD AMGEN 0.375%/06-01.02.2013 2,000,000 1,975,000.00 1.54USD ANGLOGOLD ASHANTI HOLDINGS FINANCE

(reg.-S-) 3.5%/09-22.05.2014800,000 922,000.00 0.72

USD ANNALY CAPITAL MANAGEMENT 4%/10-15.02.2015

800,000 886,296.00 0.69

USD AQUARIUS PLATINUM (reg. -S-) 4%/09-18.12.2015

500,000 440,070.00 0.34

EUR ARCELORMITTAL (reg. -S-) 7.25%/09-01.04.2014

1,215,000 1,841,748.40 1.44

USD ARCELORMITTAL 5%/09-15.05.2014 900,000 954,180.00 0.75USD ARCHER DANIELS MIDLAND 0.875%/07-

15.02.20141,000,000 1,006,250.00 0.79

USD ARES CAPITAL -144A- 5.75%/11-01.02.2016 650,000 614,250.00 0.48JPY ASAHI BREWERIES 0%/08-26.05.2028 40,000,000 527,945.25 0.41JPY ASAHI GLASS 0%/09-14.11.2014 60,000,000 772,842.78 0.60EUR AXA (subordinated) 3.75%/00-01.01.2017 99,300 171,328.71 0.13USD BES FINANCE 1.625%/10-15.04.2013 1,300,000 1,048,255.00 0.82EUR BES FINANCE 3%/10-19.05.2015 300,000 307,164.51 0.24USD BILLION EXPRESS INVESTMENT (reg. -S-)

0.75%/10-18.10.20152,500,000 2,854,250.00 2.24

USD BOSTON PROPERTIES -144A- 3.625%/08-15.02.2014

900,000 963,000.00 0.75

USD BOSTON PROPERTIES 2.875%/07-15.02.2037 1,000,000 998,750.00 0.78GBP BRITISH AIRWAYS 5.8%/09-13.08.2014 400,000 654,538.16 0.51EUR CAP GEMINI 3.5%/09-01.01.2014 340,000 500,435.69 0.39SGD CAPITALAND 2.875%/09-03.09.2016 750,000 551,773.21 0.43EUR CELESIO 3.75%/09-29.10.2014 500,000 644,391.91 0.50USD CEMEX SAB DE CV -144A- 3.25%/11-

15.03.2016500,000 281,875.00 0.22

USD CEMEX SAB DE CV 4.875%/11-15.03.2015 1,800,000 1,021,500.00 0.80AUD CFS RETAIL PROPERTY TRUST 5.75%/11-

04.07.2016500,000 499,510.22 0.39

USD CHESAPEAKE ENERGY 2.5%/07-15.05.2037 1,000,000 932,500.00 0.73USD CHINA OVERSEAS FINANCE 0%/07-14.05.2014 600,000 725,484.00 0.57HKD CHINA PETROLEUM & CHEMICAL 0%/07-

24.04.201414,000,000 2,046,297.19 1.60

EUR COMPAGNIE GENERALE DE GEOPHYSIQUE -VERITAS 1.75%/11-01.01.2016

417,000 532,437.38 0.42

USD ELECTRONIC ARTS INDUSTRIES -144A-0.75%/11-15.07.2016

700,000 708,750.00 0.55

JPY ELPIDA MEMORY S. 2 0.5%/10-26.10.2015 20,000,000 229,292.74 0.18USD ENERCOAL RESOURCES 9.25%/09-05.08.2014 700,000 689,577.00 0.54USD EPISTAR (reg. -S-) 0%/11-27.01.2016 500,000 444,435.00 0.35USD ESSAR ENERGY (reg. -S-) 4.25%/11-

01.02.2016500,000 316,200.00 0.25

EUR EURAZEO 6.25%/09-10.06.2014 769,250 1,242,002.80 0.97HKD FAIR VANTAGE 1%/08-03.06.2013 5,000,000 764,580.28 0.60EUR FIAT FIN & TRADE 6.125%/11-08.07.2014 500,000 611,825.18 0.48EUR FOMENTO DE CONSTRUCCIONES Y

CONTRATAS (reg. -S-) 6.5%/09-30.10.2014500,000 617,526.12 0.48

USD GILEAD SCIENCES 1%/10-01.05.2014 1,000,000 1,080,625.00 0.85USD GILEAD SCIENCES 1.625%/10-01.05.2016 2,600,000 2,879,500.00 2.26HKD GLORY RIVER HOLDINGS 1%/10-29.07.2015 4,000,000 483,456.52 0.38USD GOLDCORP 2%/10-01.08.2014 1,000,000 1,345,397.00 1.05CNY GOME ELECTRICAL APPLIANCES HOLDING

3%/09-25.09.20144,000,000 625,418.63 0.49

HKD HENGDELI HOLDINGS 2.5%/10-20.10.2015 5,000,000 639,508.06 0.50USD HON HAI PRECISION (reg. -S-) 0%/10-

12.10.20131,500,000 1,423,200.00 1.11

USD HYNIX SEMICONDUCTOR 2.65%/10-14.05.2015

600,000 585,180.00 0.46

USD ILLUMINA -144A- 0.25%/11-15.03.2016 400,000 306,000.00 0.24EUR IMMOFINANZ 4.25%/11-08.03.2018 153,888 723,389.91 0.57EUR INDUSTRIVAERDEN 1.875%/11-27.02.2017 1,200,000 1,444,424.33 1.13EUR INDUSTRIVAERDEN 2.5%/10-27.02.2015 400,000 570,449.91 0.45USD INTEL (subordinated) 2.95%/05-15.12.2035 3,100,000 3,317,000.00 2.60USD INTEL (subordinated) 3.25%/09-01.08.2039 1,450,000 1,845,125.00 1.44USD INTERNATIONAL GAME TECHNOLOGY

3.25%/09-01.05.20141,000,000 1,180,000.00 0.92

EUR INTERNATIONAL POWER FINANCE (JERSEY)4.75%/08-05.06.2015

900,000 1,271,857.33 0.99

EUR INTRALOT 2.25%/06-20.12.2013 300,000 319,885.62 0.25USD JSW STEEL 0%/07-28.06.2012 200,000 267,872.00 0.21EUR KFW 1.5%/09-30.07.2014 700,000 1,019,988.62 0.80EUR KFW 3.25%/08-27.06.2013 3,000,000 4,135,897.80 3.24EUR KLOECKNER 1.5%/07-27.07.2012 900,000 1,190,405.83 0.93USD LIBERTY MEDIA 3.125%/03-30.03.2023 1,400,000 1,529,500.00 1.20USD LIFEPOINT HOSPITALS 3.25%/05-15.08.2025 800,000 821,000.00 0.64USD LINEAR TECHNOLOGY 3%/07-01.05.2027 750,000 767,812.50 0.60JPY LOTTE SHOPPING 0%/11-05.07.2016 40,000,000 473,450.87 0.37USD LOTTE SHOPPING 0%/11-05.07.2016 400,000 362,236.00 0.28USD LUKOIL INTERNATIONAL FINANCE (reg. -S-)

2.625%/10-16.06.20151,800,000 1,855,476.00 1.45

EUR MAGYAR NEMZETI VAGYONKEZELO 4.4%/09-25.09.2014

1,000,000 1,103,856.46 0.86



assets(in USD)

USD MASSEY ENERGY 3.25%/08-01.08.2015 300,000 274,194.00 0.21USD MEDTRONIC 1.625%/06-15.04.2013 2,000,000 2,000,000.00 1.56USD MGM RESORTS INTERNATIONAL 4.25%/11-

15.04.20151,300,000 1,205,750.00 0.94

EUR MICHELIN 0%/07-01.01.2017 311,460 447,888.34 0.35USD MICROCHIP TECHNOLOGY 2.125%/07-

15.12.20371,350,000 1,740,372.80 1.36

EUR MISARTE 3.25%/10-01.01.2016 839,400 1,138,796.55 0.89USD MOLSON COORS BREWING 2.5%/07-

30.07.2013700,000 742,266.00 0.58

USD MYLAN 1.25%/07-15.03.2012 800,000 800,000.00 0.63EUR NATIXIS STRUCTURED PRODUCTS 0%/10-

03.02.2014400,000 498,937.04 0.39

USD NAVISTAR INTERNATIONAL 3%/09-15.10.2014 700,000 746,375.00 0.58EUR NERO FINANCE (reg. -S-) 4.5%/08-15.04.2013 500,000 623,139.57 0.49USD NETAPP 1.75%/09-01.06.2013 1,500,000 1,920,000.00 1.50USD NEWMONT MINING 1.625%/07-15.07.2017 150,000 240,375.00 0.19JPY NIDEC (reg. -S-) 0%/10-18.09.2015 80,000,000 1,050,511.14 0.82USD NOVELLUS SYSTEMS -144A- 2.625%/11-

15.05.2041800,000 824,784.00 0.65

USD NUANCE COMMUNICATIONS -144A- 2.75%/11-01.11.2031

500,000 534,090.00 0.42

USD OLAM INTERNATIONAL 6%/09-15.10.2016 600,000 646,800.00 0.51USD OMNICARE 3.25%/05-15.12.2035 179,000 163,785.00 0.13USD OMNICARE 3.75%/10-15.12.2025 600,000 802,242.00 0.63JPY ORIX S. 3 1%/08-31.03.2014 175,000,000 2,477,862.33 1.94USD OWENS-BROCKWAY GLASS CONTAINER -

144A- 3%/10-01.06.2015400,000 368,500.00 0.29

USD PAKA CAPITAL 0%/08-12.03.2013 400,000 396,136.00 0.31USD PALADIN ENERGY 3.625%/10-04.11.2015 350,000 269,937.50 0.21EUR PARPUBLICA - PARTICIPACOES PUBLICAS -

SGPS 5.25%/10-28.09.20171,000,000 988,545.25 0.77

USD PDL BIOPHARMA 3.75%/11-01.05.2015 150,000 150,375.00 0.12USD PEABODY ENERGY 4.75%/06-15.12.2041 900,000 956,250.00 0.75USD PETROLEUM GEO-SERVICES 2.7%/07-

03.12.2012600,000 591,456.00 0.46

USD PETROMINERALES 2.625%/10-25.08.2016 700,000 648,739.00 0.51EUR PEUGEOT 4.45%/09-01.01.2016 677,700 842,588.63 0.66USD POLARCUS 2.875%/11-27.04.2016 300,000 228,831.00 0.18EUR PORTUGAL TELECOM INTERNATIONAL

FINANCE (linked on Portugal Telecom SGPS)4.125%/07-28.08.2014

700,000 774,678.36 0.61

HKD POWER REGAL GROUP 2.25%/09-02.06.2014 4,000,000 589,600.07 0.46EUR PUBLICIS GROUPE 3.125%/09-30.07.2014 837,000 1,480,341.91 1.16USD QBE FUNDING TRUST (reg. -S-) 0%/10-

12.05.20301,000,000 605,000.00 0.47

USD SAN MIGUEL 2%/11-05.05.2014 600,000 651,000.00 0.51USD SANDISK 1%/06-15.05.2013 200,000 196,680.00 0.15USD SANDISK 1.5%/10-15.08.2017 1,100,000 1,284,371.00 1.00USD SEADRILL 3.375%/10-27.10.2017 700,000 793,187.50 0.62JPY SEKISUI HOUSE 0%/11-05.07.2016 50,000,000 660,543.44 0.52USD SESA GOA (reg. -S-) 5%/09-31.10.2014 200,000 164,890.00 0.13USD SHIRE 2.75%/07-09.05.2014 1,300,000 1,513,343.00 1.18USD SHIV-VANI OIL & GAS EXPLORATION SERVICES

(reg. -S-) 5%/10-17.07.2015200,000 134,760.00 0.11

CNY SHUI ON LAND (reg. -S-) 4.5%/10-29.09.2015 2,200,000 299,058.68 0.23USD SK TELECOM 1.75%/09-07.04.2014 400,000 421,020.00 0.33JPY SOFTBANK 1.50%/03-31.03.2013 54,000,000 870,336.77 0.68HKD SOHO CHINA 3.75%/09-02.07.2014 3,000,000 415,578.00 0.33EUR STEINHOFF FINANCE 4.5%/11-31.03.2018 600,000 653,978.52 0.51EUR STEINHOFF FINANCE 5%/10-22.05.2016 500,000 629,500.12 0.49USD SUBSEA 7 SA 2.25%/06-11.10.2013 700,000 770,056.00 0.60JPY SUZUKI MOTOR N. 4 0%/06-29.03.2013 70,000,000 896,492.12 0.70USD SYMANTEC 1%/06-15.06.2013 1,200,000 1,375,358.40 1.08USD TATA MOTORS (reg. -S-) 0%/07-12.07.2012 500,000 637,040.00 0.50USD TATA MOTORS 4%/09-16.10.2014 100,000 135,891.00 0.11USD TATA POWER 1.75%/09-21.11.2014 300,000 279,804.00 0.22USD TATA STEEL 4.5%/09-21.11.2014 700,000 630,322.00 0.49EUR TECHNIP 0.5%/10-01.01.2016 664,800 971,694.99 0.76USD TEVA PHARMACEUTICAL FINANCE 0.25%/06-

01.02.2026700,000 728,000.00 0.57

USD TPK HOLDING (reg. -S-) 0%/11-20.04.2014 500,000 422,770.00 0.33EUR UCB 4.5%/09-22.10.2015 500,000 754,759.38 0.59JPY UNICHARM (reg. -S-) 0%/10-24.09.2013 20,000,000 275,640.79 0.22JPY UNICHARM (reg. -S-) 0%/10-24.09.2015 60,000,000 843,933.84 0.66USD US STEEL 4%/09-15.05.2014 1,000,000 1,045,100.00 0.82USD VEDANTA RESOURCES JERSEY 4%/10-

30.03.2017800,000 677,352.00 0.53

USD VEDANTA RESOURCES JERSEY 5.5%/09-13.07.2016

1,000,000 824,660.00 0.64

USD VERISIGN 3.25%/08-15.08.2037 1,400,000 1,590,750.00 1.24USD VORNADO REALTY 3.875%/05-15.04.2025 500,000 510,000.00 0.40USD WELLS FARGO C. A S. L 7.5%/09-PERPETUAL 400 421,600.00 0.33USD WILMAR INTERNATIONAL 0%/07-18.12.2012 700,000 833,014.00 0.65USD XILINX (subordinated) 3.125%/07-15.03.2037 600,000 696,750.00 0.54USD XILINX 2.625%/10-15.06.2017 900,000 1,154,250.00 0.90USD YTL CORP FINANCE 1.875%/10-18.03.2015 400,000 393,092.00 0.31


Bonds 124,357,486.32 97.26


Cash at banks 4,791,313.25 3.75







assets(in USD)


Other liabilities -1,293,144.61 -1.01

Total net assets 127,855,654.35 100.00


Credit Suisse SICAV One (Lux) Global Equity Dividend Plus


USDA 10348395 LU0439730374 1.60% 2.03%Distribution -


USDB 10348396 LU0439730457 1.60% 2.00%Capitalisation - USDF 10445644 LU0445928608 0.50% 0.80%Capitalisation - CHFR 12784788 LU0612865351 1.60% 1.97%Capitalisation - CHFS 10348403 LU0439730960 0.70% 1.03%Capitalisation -

Technical Data

USDA 2.40%-3.85%Distribution - YTD Since Inception

USDB 2.50%-3.76%Capitalisation - USDF 4.39%-2.68%Capitalisation - CHFR -10.40%/Capitalisation - CHFS -7.47%/Capitalisation -

Fund Performance


Notes

As per 01.06.2011 the management fee was reduced from 1.92% to 1.60% for the following classes: Credit Suisse SICAV One (Lux) Global Equity Dividend Plus -A-, -B-, -R- CHF. Credit Suisse SICAV One (Lux) Global Equity Dividend Plus -S- CHF: the 1st NAV is as of 21.07.2011.

A Distribution- USD 14.06.2011 0.08

Ex-Date Amount

Distributions

As of 30.11.2011 the subfund participated in the "securities lending" - system for a global market value of USD 236,176.00.

Securities Lending










Assets

Investments in securities at market value 26,283,209.45Cash at banks 183,677.60Subscriptions receivable 2,276.91Income receivable 94,503.40Formation expenses 33,725.30

26,597,392.66

Liabilities

Provisions for accrued expenses 48,599.59Other liabilities 498,290.94

546,890.53

26,050,502.13Net assets


30.11.2011

10.05 8.83USDA 11.27Distribution -


1,043.92 883.44USDF 1,155.21Capitalisation -

8.96 /CHFR 10.17Capitalisation -

925.33 /CHFS /Capitalisation -

Total net assets


26,050,502.13 14,364,592.45 10,812,466.87USD

Fund Evolution 30.11.2011 31.05.2011 31.05.2010

84,609.713 37,459.713A 67,408.000 20,258.000Distribution - USD


7,180.000 570.000F 9,350.000 2,740.000Capitalisation - USD


9,985.022 9,985.022S 0.000 0.000Capitalisation - CHF










Income


429,604.71

Expenses


144,392.48



Net realised gain (loss) on sales of investments -550,993.48Net realised gain (loss) on forward foreign exchange contracts -751,008.18Net realised gain (loss) on foreign exchange -47,722.43

-1,349,724.09




-2,767,085.15




15,523,192.61





30.11.2011







13.54United Kingdom4.27Canada3.99Germany3.70Japan3.55France3.30Australia2.61Netherlands2.58Hong Kong2.37Switzerland2.29Singapore2.02Italy1.66Norway1.63Bermuda1.44Taiwan0.69Luxembourg0.68Spain0.63Sweden0.36Cayman Islands

100.89Total


9.97Pharmaceuticals, cosmetics and medical products8.01Petroleum7.53Telecommunication6.92Financial, investment and other div. companies5.66Chemicals5.57Tobacco and alcoholic beverages4.19Computer hardware and networking4.00Energy and water supply3.71Food and soft drinks3.05Insurance companies2.86Electrical appliances and components2.81Internet, software and IT services2.64Traffic and transportation2.45Mechanical engineering and industrial equipment2.44Building materials and building industry2.29Retailing, department stores2.20Mining, coal and steel industry2.14Investment trusts/funds2.02Forestry, paper and forest products1.77Miscellaneous consumer goods1.54Electronics and semiconductors1.33Lodging and catering industry, leisure facilities1.22Vehicles1.21Aeronautic and astronautic industry1.06Textiles, garments and leather goods0.90Environmental services and recycling0.71Non-ferrous metals0.60Miscellaneous services

100.89Total




assets(in USD)



USD ABBOTT LABORATORIES 3,468 189,179.40 0.73EUR ALLIANZ SE (reg. shares) 1,694 175,543.51 0.67USD ALTRIA GROUP 12,617 361,981.73 1.39USD AMERICAN ELECTRIC POWER 5,781 229,390.08 0.88GBP ASHMORE GROUP 24,042 127,467.60 0.49GBP ASTRAZENECA 4,903 226,714.70 0.87EUR ATLANTIA 7,678 118,034.15 0.45USD AT&T 9,403 272,498.94 1.05GBP AVIVA 29,633 145,272.32 0.56USD BANK OF HAWAII 5,361 228,110.55 0.88CAD BANK OF MONTREAL 3,868 226,962.92 0.87CAD BANK OF NOVA SCOTIA 3,868 196,110.26 0.75EUR BASF (reg. shares) 4,832 351,508.41 1.35GBP BHP BILLITON 11,918 365,330.29 1.40HKD BOC HONG KONG 75,000 164,748.08 0.63HKD BOSIDENG INTERNATIONAL HOLDINGS 328,000 92,804.23 0.36USD BRISTOL MYERS SQUIBB 12,092 395,650.24 1.52GBP BRITISH AMERICAN TOBACCO 8,179 378,840.12 1.45GBP BRITVIC 23,347 124,664.08 0.48EUR CASINO GUICHARD PERRACHON 1,425 126,643.77 0.49USD CATERPILLAR 2,950 288,746.00 1.11USD CENTURYLINK 6,275 235,438.00 0.90USD CHEVRON 6,589 677,480.98 2.59AUD COCA-COLA AMATIL 11,677 140,108.28 0.54SGD COMFORTDELGRO CORPORATION 113,000 123,473.51 0.47USD CONOCOPHILLIPS 6,680 476,417.60 1.83CHF CS GROUP (reg. shares) 4,642 112,001.57 0.43AUD DAVID JONES 41,458 119,675.25 0.46SGD DBS GROUP HOLDINGS 19,000 183,883.43 0.71EUR DEUTSCHE POST (reg. shares) 9,818 148,223.06 0.57GBP DIAGEO 11,419 244,610.81 0.94USD DU PONT (E.I.) DE NEMOURS 6,513 310,800.36 1.19USD EMERSON ELECTRIC 4,682 244,634.50 0.94EUR ENI 13,079 276,066.72 1.06USD EXELON 3,256 144,273.36 0.55NOK FRED.OLSEN ENERGY 3,721 124,686.99 0.48EUR FUGRO CERT. 2,545 142,228.39 0.55EUR GDF SUEZ 4,445 124,369.90 0.48USD GENUINE PARTS 5,447 318,649.50 1.22CAD GREAT WEST LIFECO 6,312 121,428.61 0.47HKD HANG SENG BANK 13,500 162,336.66 0.62USD H.J. HEINZ 5,291 278,571.15 1.07USD HOME DEPOT 7,935 311,210.70 1.19USD HONEYWELL INTERNATIONAL 5,830 315,694.50 1.21GBP HSBC HOLDINGS 36,217 281,675.61 1.08TWD HTC CORPORATION 4,467 70,245.52 0.27GBP ICAP 27,460 153,449.76 0.59CAD IGM FINANCIAL 3,868 164,763.06 0.63USD INTEL 16,078 400,502.98 1.54GBP INTERMEDIATE CAPITAL GROUP 38,309 144,906.00 0.56USD JP MORGAN CHASE 8,391 259,869.27 1.00SGD KEPPEL 16,700 120,044.81 0.46USD KIMBERLY-CLARK 3,462 247,429.14 0.95EUR KONINKLIJKE DSM 2,841 137,908.30 0.53EUR KONINKLIJKE KPN 9,580 117,225.70 0.45JPY LAWSON 2,500 147,333.47 0.57USD LEGGETT & PLATT 10,286 230,200.68 0.88AUD MAP GROUP (stapled security) 49,951 176,006.21 0.68USD MARSH & MCLENNAN 8,380 252,992.20 0.97USD MATTEL 11,952 344,337.12 1.32USD MAXIM INTEGRATED PRODUCTS 7,421 190,348.65 0.73USD MCDONALD'S 3,638 347,501.76 1.33USD MEADWESTVACO 9,328 278,440.80 1.07USD MERCK & CO 14,284 510,653.00 1.96USD MICROCHIP TECHNOLOGY 12,052 420,735.32 1.62USD MICROSOFT 21,566 551,658.28 2.12EUR MUENCHENER RUECKVERSICHERUNGS-

GESELLSCHAFT (reg. shares)1,344 169,614.90 0.65

GBP NATIONAL GRID 19,357 190,125.76 0.73USD NEW YORK COMMUNITY BANCORP 16,517 198,864.68 0.76JPY NTT DOCOMO 84 146,077.51 0.56USD NUCOR 5,266 207,638.38 0.80AUD ORICA 7,563 196,874.92 0.76NOK ORKLA 18,335 139,723.10 0.54USD PAYCHEX 7,935 230,987.85 0.89GBP PEARSON 11,266 204,300.54 0.78USD PFIZER 26,744 536,752.08 2.06USD PHILIP MORRIS INTERNATIONAL 6,106 465,521.44 1.79HKD POWER ASSETS HOLDINGS 21,500 159,269.34 0.61EUR PPR 1,345 201,335.58 0.77GBP RECKITT BENCKISER GROUP 3,111 157,503.95 0.60CHF ROCHE HOLDING (cert. shares) 1,804 287,402.92 1.10EUR ROYAL DUTCH SHELL -A- 13,135 457,601.88 1.76GBP SAGE GROUP 38,963 177,774.95 0.68JPY SANKYO 2,400 118,253.22 0.45







assets(in USD)

EUR SANOFI 3,186 223,405.36 0.86NOK SEADRILL 6,947 241,578.26 0.93EUR SES 7,248 178,502.40 0.69EUR SIEMENS (reg. shares) 1,935 195,333.97 0.75SGD SINGAPORE POST 161,000 123,145.70 0.47EUR SNAM RETE GAS 28,614 132,504.45 0.51USD SOUTHERN COPPER 5,907 183,884.91 0.71NOK STATOIL ASA 6,491 167,771.77 0.64JPY SUMITOMO MITSUI FINANCIAL GROUP 5,400 145,312.34 0.56SEK SVENSKA HANDELSBANKEN -A- 6,201 163,487.60 0.63TWD TAIWAN SEMICONDUCTOR MANUFACTURING 124,000 304,961.35 1.17JPY TAKEDA PHARMACEUTICAL 5,600 226,871.00 0.87EUR TELEFONICA 9,366 176,260.41 0.68CAD TRANSCANADA 9,563 403,305.48 1.55USD TRAVELERS COMPANIES 3,256 183,150.00 0.70JPY TREND MICRO 6,000 179,621.24 0.69AUD UGL 12,735 162,483.86 0.62EUR UNILEVER (cert. shares) 8,279 281,907.11 1.08SGD UNITED OVERSEAS BANK 4,000 47,453.79 0.18USD VERIZON COMMUNICATIONS 5,618 211,967.14 0.81EUR VINCI 3,687 164,308.57 0.63EUR VIVENDI 3,644 83,979.94 0.32GBP VODAFONE GROUP 54,752 148,287.17 0.57HKD VTECH HOLDINGS 19,425 187,617.00 0.72USD WASTE MANAGEMENT 7,525 235,532.50 0.90AUD WESTPAC BANKING 9,556 201,929.66 0.78USD XCEL ENERGY 7,815 205,456.35 0.79HKD YUE YUEN INDUSTRIAL (HOLDINGS) 63,500 182,525.05 0.70CHF ZURICH FINANCIAL SERVICES (reg. shares) 1,000 219,853.67 0.84USD 3M 3,053 247,415.12 0.95





USD SPDR S&P 500 TRUST (units) 1 4,457 557,080.43 2.14

Securities listed on a stock exchange or other organised markets:Investment funds 557,080.43 2.14



Cash at banks 183,677.60 0.71


Total net assets 26,050,502.13 100.00


Credit Suisse SICAV One (Lux) Global Tactical Asset Allocation (GTAA) VaR 10%


Income

Bank interest 700.44Other income 590.54

1,290.98

Expenses

Management fee 2,127.82Custodian and safe custody fees 47.86Audit, control, legal, representative bank and other expenses 999.99

3,175.67

Net income (loss) -1,884.69


Net realised gain (loss) on sales of investments 8,925.46Net realised gain (loss) on financial futures contracts 3,965.27Net realised gain (loss) on forward foreign exchange contracts -37,846.60Net realised gain (loss) on foreign exchange 5,122.33

-19,833.54




-31,058.34



Subscriptions 0.00Redemptions -7,027,140.44

-7,027,140.44

Net assets at the end of the period 0.00



06.06.2011



Credit Suisse SICAV One (Lux) IndexSelection Balanced (Euro)




Technical Data

EURB 6.92%1.15%-7.94%Capitalisation - YTD 2010Since Inception

Fund Performance



Assets

Investments in securities at market value 3,721,281.99Cash at banks 147,175.77Income receivable 4,081.57

3,872,539.33

Liabilities




30.11.2011


Total net assets


3,868,372.05 4,468,567.85 3,845,460.16EUR

Fund Evolution 30.11.2011 31.05.2011 31.05.2010











Income


26,579.37

Expenses

Management fee 24,827.82Custodian and safe custody fees 931.03Administration expenses 1,459.00Printing and publication expenses 233.89Audit, control, legal, representative bank and other expenses 736.27"Taxe d'abonnement" 719.82

28,907.83



Net realised gain (loss) on sales of investments -52,034.36Net realised gain (loss) on forward foreign exchange contracts 0.01Net realised gain (loss) on foreign exchange -1,618.51

-53,652.86



Change in net unrealised appreciation (depreciation) on investments -292,141.19-292,141.19




-252,073.29




30.11.2011






52.11IrelandBreakdown by Country

29.47Luxembourg5.74Germany5.19Jersey2.23USA1.46Switzerland

96.20Total


1.83Financial, investment and other div. companies1.46Banks and other credit institutions

96.20Total




assets(in EUR)



EUR CREDIT SUISSE SOLUTIONS (LUX) DOW JONESCREDIT SUISSE ALLHEDGE INDEX -R- EUR

6,400 541,824.00 14.01

USD CS ETF (IE) on DOW JONES INDUSTRIALAVERAGE

500 43,238.57 1.12

EUR CS ETF (IE) on iBoxx EUR GOVT 1-3 ETF 1,600 162,433.12 4.20EUR CS ETF (IE) on MSCI EMU 9,000 506,120.40 13.08JPY CS ETF (IE) on MSCI JAPAN 1,500 95,976.65 2.48USD CS ETF (IE) on NASDAQ 100 492 44,509.42 1.15USD CS ETF (IE) on S&P 500 4,200 337,744.71 8.73USD CS ETF (Lux) on MSCI Emerging Markets 2,700 191,504.14 4.95GBP DB X-TRACKERS FTSE ALL-SHARE ETF -1D- 52,000 175,159.01 4.53EUR DBX TRACKERS II IBOXX GLOBAL INFLATION-

LINKED -1C-650 121,927.00 3.15

EUR EASYETF FTSE EPRA EUROZONE 800 109,544.00 2.83EUR ETFLAB DAX 2,000 69,120.00 1.79EUR ETFLAB IBOXX EUR LIQUID GERMANY

COVERED DIVERSIFIED1,100 119,592.00 3.09

EUR ISHARES BARCLAYS CAPITAL EUROCORPORATE BOND EX-FINANCIALS

650 67,255.50 1.74

EUR ISHARES BARCLAYS CAPITAL EUROCORPORATE BOND EX-FINANCIALS 1-5

2,100 216,804.00 5.60

EUR ISHARES EURO CORPORATE BOND 2,453 283,738.51 7.33USD ISHARES II PLC - ISHARES JP MORGAN USD

EMERGING MARKETS BOND FUND1,056 84,223.48 2.18

EUR ISHARES MARKIT IBOXX EURO HIGH YIELDBOND

1,400 130,956.00 3.39

USD ISHARES MSCI EMERGING MARKETSSMALLCAP

964 42,898.95 1.11

EUR MDAX EX 400 33,080.00 0.86USD RYDEX ETF TRUST - S&P 500 EQUAL

WEIGHTED INDEX FUND2,500 86,171.67 2.23




Certificates

EUR CREDIT SUISSE CERT (linked on EURO BUNDFUTURE) 11-21.09.2012

800 10,448.00 0.27

EUR CREDIT SUISSE (linked on EUR/USD) 11-14.03.2012

85 5,291.25 0.14

USD ETFS METAL SECURITIES PHYSICAL GOLD 555 70,651.55 1.83USD GOLD BULLION SECURITIES 04-PERPETUAL 1,037 130,353.94 3.36



Securities not listed on stock exchange : Certificates

Certificates

USD UBS (PERLES ON DOW JONES UBS CONSTANTMATURITY INDEX) (certificates)

450 40,716.12 1.05

Securities not listed on stock exchange : Certificates 40,716.12 1.05



Cash at banks 147,175.77 3.80

Other liabilities -85.71 /

Total net assets 3,868,372.05 100.00


Credit Suisse SICAV One (Lux) IndexSelection Balanced (Sfr)




Technical Data

CHFB -0.55%-7.45%-8.59%Capitalisation - YTD 2010Since Inception

Fund Performance



Assets


11,786,743.42

Liabilities


11,774,154.93Net assets


30.11.2011


Total net assets


11,774,154.93 13,722,662.04 9,020,939.40CHF

Fund Evolution 30.11.2011 31.05.2011 31.05.2010











Income


62,726.69

Expenses


86,350.99




-537,110.11







-944,418.80




30.11.2011







28.46Ireland5.94Switzerland5.05Jersey2.51USA

98.65Total


5.16Banks and other credit institutions2.51Financial, investment and other div. companies

98.65Total




assets(in CHF)




1,000 1,039,180.00 8.83

CHF CREDIT SUISSE FUND (LUX) FOREIGNGOVERNMENT 1-5 -F- (CHF)

1,260 1,271,251.80 10.79

CHF CREDIT SUISSE SOLUTIONS (LUX) DOW JONESCREDIT SUISSE ALLHEDGE INDEX -R- CHF

20,000 1,631,800.00 13.85

CHF CS ETF (CH) on SMIM(r) 800 92,080.00 0.78USD CS ETF (IE) on DOW JONES INDUSTRIAL

AVERAGE1,600 169,522.86 1.44

EUR CS ETF (IE) on MSCI EMU 9,500 654,548.64 5.56JPY CS ETF (IE) on MSCI JAPAN 4,000 313,574.92 2.66USD CS ETF (IE) on NASDAQ 100 1,158 128,351.91 1.09USD CS ETF (IE) on S&P 500 8,000 788,199.65 6.69USD CS ETF (Lux) on MSCI Emerging Markets 7,500 651,752.43 5.54GBP DB X-TRACKERS FTSE ALL-SHARE ETF -1D- 140,000 577,782.36 4.91CHF DB X-TRACKERS SMI ETF -1D- 20,500 1,158,865.00 9.84EUR DBX TRACKERS II IBOXX GLOBAL INFLATION-

LINKED -1C-1,500 344,734.52 2.93

USD ISHARES II PLC - ISHARES JP MORGAN USDEMERGING MARKETS BOND FUND

2,850 278,497.38 2.37


3,500 401,118.23 3.41


2,000 109,045.21 0.93

USD RYDEX ETF TRUST - S&P 500 EQUALWEIGHTED INDEX FUND

7,000 295,617.10 2.51

CHF VANGUARD INVESTMENT SERIES - GLOBALBOND INDEX FUND HEDGED CHF

4,500 507,492.00 4.31




Bonds

CHF CREDIT SUISSE CERTIFICATE (linked on 10 yearSFB (conf) future) 11-24.08.2012

3,400 33,796.00 0.29

Bonds 33,796.00 0.29

Certificates

CHF CREDIT SUISSE (linked on EUR/CHF) 11-14.03.2012

575 41,750.75 0.35

CHF CREDIT SUISSE (linked on USD/CHF) 11-14.03.2012

250 25,970.00 0.22

USD ETFS METAL SECURITIES PHYSICAL GOLD 1,895 295,559.47 2.51USD GOLD BULLION SECURITIES 04-PERPETUAL 1,940 298,781.79 2.54CHF ZUERCHER KB (linked on SWX Immofonds Index)

06-PERPETUAL1,460 383,980.00 3.26




Certificates


1,100 121,942.05 1.04




Cash at banks 168,080.81 1.43


Total net assets 11,774,154.93 100.00


Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented (Euro)




Technical Data


Fund Performance



Assets


3,952,692.12

Liabilities




30.11.2011


Total net assets


3,948,170.48 4,692,603.89 3,354,015.72EUR

Fund Evolution 30.11.2011 31.05.2011 31.05.2010











Income


39,312.23

Expenses

Management fee 27,357.64Custodian and safe custody fees 946.98Administration expenses 1,482.00Printing and publication expenses 239.32Audit, control, legal, representative bank and other expenses 750.57"Taxe d'abonnement" 661.08

31,437.59



Net realised gain (loss) on sales of investments -174,091.04Net realised gain (loss) on foreign exchange -2,966.37

-177,057.41







-250,163.05




30.11.2011







32.95Luxembourg5.50Germany5.19Jersey3.93USA1.23Switzerland

93.84Total



93.84Total




assets(in EUR)




6,350 537,591.00 13.62


850 73,505.57 1.86

EUR CS ETF (IE) on iBoxx EUR GOVT 1-3 ETF 520 52,790.76 1.34EUR CS ETF (IE) on MSCI EMU 13,000 731,062.80 18.52JPY CS ETF (IE) on MSCI JAPAN 2,200 140,765.76 3.57USD CS ETF (IE) on NASDAQ 100 674 60,974.28 1.54USD CS ETF (IE) on S&P 500 6,000 482,492.44 12.22USD CS ETF (Lux) on MSCI Emerging Markets 4,500 319,173.57 8.08GBP DB X-TRACKERS FTSE ALL-SHARE ETF -1D- 80,000 269,475.41 6.83EUR DBX TRACKERS II IBOXX GLOBAL INFLATION-

LINKED -1C-325 60,963.50 1.54

EUR EASYETF FTSE EPRA EUROZONE 830 113,651.90 2.88EUR ETFLAB DAX 3,500 120,960.00 3.06EUR ETFLAB IBOXX EUR LIQUID GERMANY

COVERED DIVERSIFIED430 46,749.60 1.18


340 35,101.60 0.89

EUR ISHARES EURO CORPORATE BOND 300 34,701.00 0.88USD ISHARES II PLC - ISHARES JP MORGAN USD

EMERGING MARKETS BOND FUND590 47,056.68 1.19


900 84,186.00 2.13


800 35,600.79 0.90

EUR MDAX EX 600 49,620.00 1.26USD RYDEX ETF TRUST - S&P 500 EQUAL

WEIGHTED INDEX FUND4,500 155,109.01 3.93




Certificates


400 5,224.00 0.13


60 3,735.00 0.09





Certificates


440 39,811.31 1.01




Cash at banks 245,819.34 6.23


Total net assets 3,948,170.48 100.00


Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented (Sfr)




Technical Data


Fund Performance



Assets


5,579,071.35

Liabilities




30.11.2011


Total net assets


5,572,708.90 6,418,558.15 5,159,237.79CHF

Fund Evolution 30.11.2011 31.05.2011 31.05.2010











Income


32,260.51

Expenses

Management fee 37,334.70Custodian and safe custody fees 1,292.33Administration expenses 2,026.31Printing and publication expenses 325.84Audit, control, legal, representative bank and other expenses 1,041.14"Taxe d'abonnement" 742.31

42,762.63




-229,570.12







-258,242.23




30.11.2011








95.71Total



95.71Total




assets(in CHF)



CHF COMSTAGE ETF SICAV- COMSTAGE ETF SMI -I- 5,000 301,650.00 5.41CHF CREDIT SUISSE FUND (LUX) FOREIGN

CORPORATE -F- (CHF)86 89,369.48 1.60


150 151,339.50 2.72


9,700 791,423.00 14.21

CHF CS ETF (CH) on SMIM(r) 1,100 126,610.00 2.27USD CS ETF (IE) on DOW JONES INDUSTRIAL

AVERAGE1,500 158,927.69 2.85

EUR CS ETF (IE) on MSCI EMU 6,500 447,849.07 8.04JPY CS ETF (IE) on MSCI JAPAN 2,600 203,823.70 3.66USD CS ETF (IE) on NASDAQ 100 758 84,016.19 1.51USD CS ETF (IE) on S&P 500 5,800 571,444.75 10.25USD CS ETF (Lux) on MSCI Emerging Markets 5,300 460,571.72 8.26GBP DB X-TRACKERS FTSE ALL-SHARE ETF -1D- 81,000 334,288.37 6.00CHF DB X-TRACKERS SMI ETF -1D- 9,000 508,770.00 9.13EUR DBX TRACKERS II IBOXX GLOBAL INFLATION-

LINKED -1C-350 80,438.06 1.44


950 92,832.46 1.67


1,100 126,065.73 2.26


1,000 54,522.61 0.98


5,000 211,155.07 3.79




Bonds


300 2,982.00 0.05

Bonds 2,982.00 0.05

Certificates


150 10,891.50 0.20


85 8,829.80 0.16

USD ETFS METAL SECURITIES PHYSICAL GOLD 709 110,581.36 1.98USD GOLD BULLION SECURITIES 04-PERPETUAL 1,082 166,640.15 2.99CHF ZUERCHER KB (linked on SWX Immofonds Index)

06-PERPETUAL696 183,048.00 3.29




Certificates


500 55,428.21 0.99




Cash at banks 243,665.62 4.37


Total net assets 5,572,708.90 100.00


Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Euro)




Technical Data


Fund Performance



Assets


5,653,788.96

Liabilities




30.11.2011


Total net assets


5,648,164.69 6,470,262.19 6,500,766.97EUR

Fund Evolution 30.11.2011 31.05.2011 31.05.2010

56,105.110 3,119.605B 60,395.803 7,410.298Capitalisation - EUR










Income


41,044.03

Expenses

Management fee 32,426.69Custodian and safe custody fees 1,326.54Administration expenses 2,091.00Printing and publication expenses 334.38Audit, control, legal, representative bank and other expenses 1,045.01"Taxe d'abonnement" 999.21

38,222.83



Net realised gain (loss) on sales of investments -82,373.83Net realised gain (loss) on forward foreign exchange contracts -38.23Net realised gain (loss) on foreign exchange -4,235.73

-86,647.79







-440,260.07




30.11.2011







29.69Luxembourg5.38Jersey5.20Germany1.55Switzerland0.73USA

95.02Total


1.59Financial, investment and other div. companies1.55Banks and other credit institutions

95.02Total




assets(in EUR)




10,300 871,998.00 15.43


550 47,562.43 0.84

EUR CS ETF (IE) on iBoxx EUR GOVT 1-3 ETF 6,850 695,416.80 12.31EUR CS ETF (IE) on MSCI EMU 5,700 320,542.92 5.68JPY CS ETF (IE) on MSCI JAPAN 1,000 63,984.44 1.13USD CS ETF (IE) on S&P 500 3,000 241,246.22 4.27USD CS ETF (Lux) on MSCI Emerging Markets 2,300 163,133.16 2.89GBP DB X-TRACKERS FTSE ALL-SHARE ETF -1D- 40,000 134,737.70 2.39EUR DBX TRACKERS II IBOXX GLOBAL INFLATION-

LINKED -1C-1,900 356,402.00 6.31

EUR EASYETF FTSE EPRA EUROZONE 1,100 150,623.00 2.67EUR ETFLAB DAX 2,200 76,032.00 1.35EUR ETFLAB IBOXX EUR LIQUID GERMANY

COVERED DIVERSIFIED2,000 217,440.00 3.85

EUR ISHARES BARCLAYS CAPITAL EUROCORPORATE BOND EX-FINANCIALS

1,250 129,337.50 2.29


3,000 309,720.00 5.48

EUR ISHARES EURO CORPORATE BOND 6,800 786,556.00 13.93USD ISHARES II PLC - ISHARES JP MORGAN USD

EMERGING MARKETS BOND FUND1,100 87,732.79 1.55


2,000 187,080.00 3.31


1,200 41,362.40 0.73

USD SPDR BARCLAYS CAPITAL EMERGINGMARKETS LOCAL BOND ETF

1,350 94,885.60 1.68




Certificates


1,700 22,202.00 0.39


180 11,205.00 0.20





Certificates


600 54,288.16 0.96




Cash at banks 278,298.30 4.93


Total net assets 5,648,164.69 100.00


Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Sfr)




Technical Data


Fund Performance



Assets


14,314,276.57

Liabilities


14,300,277.01Net assets


30.11.2011


Total net assets


14,300,277.01 16,423,820.72 12,133,356.87CHF

Fund Evolution 30.11.2011 31.05.2011 31.05.2010











Income


50,151.04

Expenses


99,123.47



Net realised gain (loss) on sales of investments -727,997.54Net realised gain (loss) on foreign exchange -22,463.94

-750,461.48







-1,220,719.93




30.11.2011








99.89Total



99.89Total




assets(in CHF)




2,388 2,481,561.84 17.35


1,850 1,866,520.50 13.05

CHF CREDIT SUISSE FUND (LUX) FOREIGNGOVERNMENT 5+ -F- (CHF)

580 613,193.40 4.29


27,700 2,260,043.00 15.80


1,000 105,951.79 0.74

EUR CS ETF (IE) on MSCI EMU 5,100 351,389.27 2.46JPY CS ETF (IE) on MSCI JAPAN 2,300 180,305.58 1.26USD CS ETF (IE) on S&P 500 6,500 640,412.22 4.48USD CS ETF (Lux) on MSCI Emerging Markets 5,500 477,951.78 3.34GBP DB X-TRACKERS FTSE ALL-SHARE ETF -1D- 83,914 346,314.50 2.42CHF DB X-TRACKERS SMI ETF -1D- 10,500 593,565.00 4.15EUR DBX TRACKERS II IBOXX GLOBAL INFLATION-

LINKED -1C-4,100 942,274.37 6.59


2,048 200,127.24 1.40


4,300 492,802.39 3.45


2,500 105,577.54 0.74

USD SPDR BARCLAYS CAPITAL EMERGINGMARKETS LOCAL BOND ETF

2,600 223,896.28 1.57

CHF VANGUARD INVESTMENT SERIES - GLOBALBOND INDEX FUND HEDGED CHF

8,000 902,208.00 6.31




Bonds


12,000 119,280.00 0.83

Bonds 119,280.00 0.83

Certificates


900 65,349.00 0.46


400 41,552.00 0.29

USD ETFS METAL SECURITIES PHYSICAL GOLD 1,253 195,427.98 1.37USD GOLD BULLION SECURITIES 04-PERPETUAL 2,978 458,645.44 3.21CHF ZUERCHER KB (linked on SWX Immofonds Index)

06-PERPETUAL1,726 453,938.00 3.17




Certificates


1,500 166,284.62 1.16




Cash at banks 27,493.11 0.19


Total net assets 14,300,277.01 100.00


Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short




EURI 11514128 LU0525285937 1.80% 3.01%Capitalisation - CHFR 11514130 LU0526492425 2.00% 3.02%Capitalisation - USDR 11514152 LU0526495444 2.00% 3.21%Capitalisation -

Technical Data

EURB 4.07%-4.49%Capitalisation - YTD Since Inception

EURI 4.31%-4.31%Capitalisation - CHFR 2.82%-5.39%Capitalisation - USDR 3.45%-5.14%Capitalisation -

Fund Performance

Notes

TER without performance fee: -B-: 2,31%; -I-: 2,11%; -R- CHF and -R- USD: 2,29%. For the period from 01.12.2010 to 30.11.2011, the Portfolio Turnover Rate was301.11%.


Securities Lending

EURACS -1- -20,747 -498,446.68 181,167.87EURADLER MODE -1- 07/21 -1,612 -12,090.00 3,556.02CHFAFG ARBONIA-FORSTER-HOLDING -1- 07/21 -6,151 -117,791.65 1,580.14EURAGFA-GEVAERT -1- -230,501 -311,176.35 368,329.97EURASML HOLDING -1- 10/21 -20,732 -600,917.02 -2,754.64DKKAURIGA INDUSTRIES -1- 01/21 -4,069 -309,244.00 5,825.82CHFBASLER KANTONALBANK -1- -5,023 -649,976.20 49,804.26EURBINCKBANK -1- 07/21 -63,405 -477,756.68 49,595.39EURCROPENERGIES -1- -51,375 -259,443.75 15,147.01EURDAX INDEX FUTURE -25- 12/11 -119 -18,095,437.50 -420,904.98EURDIASORIN -1- /10/21 -13,821 -298,533.60 41,943.02EURDUERR -1- 08/20 -3,400 -114,835.00 -4,360.50SEKELECTROLUX -B- -1- 07/21 -54,918 -6,419,914.20 -12,425.76GBPGLAXOSMITHKLINE -1- 10/21 -17,277 -242,482.70 -7,896.12EURGRONTMIJ -1- -22,823 -124,134.30 218,728.48EURHEIJMANS -1- 10/21 -37,000 -280,385.99 3,422.24GBPHENDERSON GROUP -1- 09/21 -472,479 -549,493.08 -42,607.09SEKHENNES & MAURITZ b -1- -8,115 -1,736,610.00 -3,444.16CHFHOLCIM reg -1- -11,466 -583,046.10 13,807.01SEKHUSQVARNA -B- -1- 10/21 -136,118 -4,532,729.40 -100,580.37EURINDESIT COMPANY -1- -84,452 -333,078.69 124,180.51GBPINTERNATIONAL CONSOLIDATED AIRLINES GROUP -

1- 11/21-211,000 -311,225.00 9,589.79

EURKABEL DEUTSCHLAND HOLDING -1- 10/20 -14,132 -582,662.36 -38,175.55EURKONINKLIJKE WESSANEN 22/11/2021 -48,000 -129,648.00 1,776.00






GBPMITCHELLS & BUTLERS -1- 11/21 -122,003 -279,752.88 -13,929.08EUROUTOKUMPU -1- 10/21 -34,030 -201,627.75 -39,131.10CHFPETROPLUS HOLDINGS reg -1- 11/21 -70,000 -286,300.00 -18,442.70SEKRATOS -1- 10/21 -40,835 -3,203,505.75 -20,834.12SEKSAS -1- -98,802 -908,978.40 99,593.04CHFSCHAFFNER HOLDING reg -1- 07/21 -142 -35,201.80 5,872.91DKKVESTAS WIND SYSTEMS -1- 08/21 -10,711 -796,898.40 27,489.61EURVESTAS WIND SYSTEMS -1- 09/21 3,120 30,984.72 -7,717.63EURXETRA DAX MIDCAP INDEX -5- 12/11 -343 -15,443,575.00 -133,541.85CHFZUGER KANTONALBANK -1- -31 -151,931.00 10,188.70

364,852.14Unrealised gain on financial futures contracts



24,235,263CHF EUR -20,185,960 -397,289.7721.12.2011Credit Suisse AG, GL. Foreign Ex. London



4,125,284EUR CHF -5,026,040 21,394.1121.12.2011Credit Suisse AG, GL. Foreign Ex. London




674,723EUR CHF -831,920 -4,557.6221.12.2011Credit Suisse AG, GL. Foreign Ex. London






Assets

Investments in securities at market value 52,573,536.00Cash at banks 11,307,964.48Income receivable 22,243.78Formation expenses 35,741.31Other assets 919,298.97

64,858,784.54

Liabilities


971,273.50

63,887,511.04Net assets


30.11.2011

104.07EURB 107.35Capitalisation -

1,043.08EURI 1,074.83Capitalisation -

102.82CHFR 106.92Capitalisation -

103.45USDR 107.30Capitalisation -

Total net assets


63,887,511.04 87,448,412.93EUR

Fund Evolution 30.11.2011 31.05.2011

304,855.875 89,063.155B 304,399.520 88,606.800Capitalisation - EUR

10,692.498 1,629.503I 21,045.509 11,982.514Capitalisation - EUR


75,923.852 8,026.443R 176,148.140 108,250.731Capitalisation - USD










Income

Interest on investments in securities (net) 19,136.44Dividends (net) 385,363.89Bank interest 27,228.51Other income 55,214.60

486,943.44

Expenses


889,133.23



Net realised gain (loss) on sales of investments -7,649,945.17Net realised gain (loss) on financial futures contracts 10,028,229.38Net realised gain (loss) on forward foreign exchange contracts 1,412,077.66Net realised gain (loss) on foreign exchange 137,417.70

3,927,779.57

Net realised gain (loss) 3,525,589.78


Change in net unrealised appreciation (depreciation) on investments -9,074,226.54Change in net unrealised appreciation (depreciation) on financial futures contracts 3,128,266.74Change in net unrealised appreciation (depreciation) on forward foreign exchange contracts -834,715.00

-6,780,674.80




-20,305,816.87




30.11.2011






62.03GermanyBreakdown by Country

8.88United Kingdom2.76Netherlands1.55France1.37Gibraltar1.30Belgium1.26Italy1.25Switzerland0.77Denmark0.66Luxembourg0.46Austria

82.29Total

8.92Miscellaneous servicesBreakdown by Economic Sector

6.92Mechanical engineering and industrial equipment6.86Graphics publishing and printing media5.46Banks and other credit institutions5.11Mining, coal and steel industry4.75Aeronautic and astronautic industry4.51Rubber and tires4.40Non-ferrous metals4.28Electrical appliances and components3.88Internet, software and IT services2.98Building materials and building industry2.88Food and soft drinks2.53Lodging and catering industry, leisure facilities2.53Pharmaceuticals, cosmetics and medical products2.44Real estate2.43Chemicals2.37Textiles, garments and leather goods2.25Financial, investment and other div. companies2.17Forestry, paper and forest products2.13Traffic and transportation1.55Miscellaneous trading companies0.47Healthcare and social services0.32Telecommunication0.15Computer hardware and networking

82.29Total




assets(in EUR)



EUR AAREAL BANK 260,851 3,479,752.34 5.46EUR ACKERMANS V HAAREN 14,537 832,970.10 1.30EUR ARTNET 20,426 71,491.00 0.11EUR ASIAN BAMBOO 92,637 1,387,702.26 2.17EUR AURUBIS AG 13,493 569,269.67 0.89EUR AXEL SPRINGER (reg. shares) 16,369 544,760.32 0.85EUR BERTRANDT 6,048 260,426.88 0.41EUR BILFINGER BERGER 5,968 403,675.52 0.63EUR BRENNTAG (reg. shares) 8,619 613,328.04 0.96GBP BWIN.PARTY DIGITAL ENTERTAINMENT 553,781 876,706.69 1.37EUR CELESIO 29,744 352,317.68 0.55DKK CHRISTIAN HANSEN HOLDING 31,422 494,355.56 0.77CHF CLARIANT (reg. shares) 21,423 156,056.38 0.24EUR CLUB MEDITERRANEE 26,621 311,998.12 0.49EUR CONTINENTAL 47,954 2,512,310.06 3.94EUR CTS EVENTIM 102,075 2,305,874.25 3.61EUR DEUTSCHE WOHNEN (reg. shares) 20,868 217,027.20 0.34EUR DOUGLAS HOLDING 20,972 631,676.64 0.99EUR DRILLISCH 31,104 207,463.68 0.32EUR ECKERT & ZIEGLER STRAHLEN- UND

MEDIZINTECHNIK37,322 895,728.00 1.40

EUR EUROPEAN AERONAUTIC DEFENCE ANDSPACE

79,470 1,763,836.65 2.76

GBP FENNER 123,685 566,474.12 0.89EUR FRAPORT 5,535 233,438.63 0.37EUR FREENET (reg. shares) 52,000 509,340.00 0.80EUR GEA GROUP 64,283 1,407,797.70 2.20EUR GILDEMEISTER 27,116 273,329.28 0.43GBP GREAT PORTLAND ESTATES 192,819 794,119.62 1.24EUR HAMBURGER HAFEN UND LOGISTIK (reg.

shares)13,118 295,745.31 0.46

EUR HEIDELBERGER DRUCKMASCHINEN 49,057 72,064.73 0.11EUR HOCHTIEF 14,092 597,430.34 0.94EUR HUGO BOSS (pref. shares) 12,976 872,765.76 1.37GBP HUNTING 50,564 407,040.50 0.64EUR INDURTRIA MACCHINE AUTOMATICHE 61,439 804,850.90 1.26EUR KABEL DEUTSCHLAND HOLDING 7,170 295,619.10 0.46EUR KLOECKNER & CO 101,977 991,216.44 1.55EUR KONTRON 18,399 96,668.35 0.15EUR LANXESS 19,003 787,864.38 1.23EUR LEONI (reg. shares) 11,989 329,697.50 0.52EUR MAN 3,400 218,314.00 0.34CHF MICRONAS SEMICONDUCTOR HOLDING (reg.

shares)57,802 311,372.18 0.49

EUR MORPHOSYS 65,731 1,132,873.79 1.77EUR MTU AERO ENGINES 26,715 1,269,229.65 1.99EUR NORMA GROUP (reg. shares) 6,622 91,814.03 0.14GBP PERSIMMON 68,113 392,491.32 0.61EUR PFEIFFER VACUUM TECHNOLOGY 20,403 1,407,807.00 2.20EUR POWERLAND 75,202 639,217.00 1.00EUR PRIME OFFICE REIT 48,666 221,332.97 0.35EUR PROSIEBEN SAT.1 MEDIA (pref. shares) 86,280 1,258,825.20 1.97EUR QSC 43,891 104,811.71 0.16EUR RHI 19,180 291,056.50 0.46EUR RHOEN KLINIKUM 21,568 303,246.08 0.47EUR RIB SOFTWARE 166,960 621,091.20 0.97EUR SAF HOLLAND 108,433 422,888.70 0.66EUR SALZGITTER 25,651 984,357.13 1.54EUR SCHULER 88,534 875,601.26 1.37EUR SGL CARBON 10,002 446,039.19 0.70GBP SHAFTESBURY 92,185 540,142.28 0.85GBP SIRIUS MINERALS 1,508,999 502,470.76 0.79EUR SKY DEUTSCHLAND (reg. shares) 154,019 274,153.82 0.43EUR SOFTWARE 26,402 840,507.67 1.32EUR STADA-ARZNEIMITTEL (reg. shares) 6,496 134,304.80 0.21EUR STRATEC BIOMEDICAL 3,686 113,160.20 0.18EUR SUEDZUCKER 17,150 404,740.00 0.63EUR SUESS MICROTEC 196,670 1,488,791.90 2.33CHF TEMENOS GROUP 26,909 333,836.76 0.52EUR TIPP24 (reg. shares) 75,660 2,398,422.00 3.76EUR TUI (reg. shares) 237,226 981,403.96 1.54GBP TUI TRAVEL 313,519 631,506.91 0.99EUR VILMORIN ET CIE 4,123 316,151.64 0.49EUR WINCOR NIXDORF 9,896 352,099.68 0.55EUR WIRE CARD 148,400 1,849,064.00 2.89GBP XSTRATA 154,427 1,834,937.01 2.87EUR ZODIAC AEROSPACE 5,950 361,284.00 0.57




Cash at banks 11,307,964.48 17.70

Due to banks -100,790.63 -0.16







assets(in EUR)


Total net assets 63,887,511.04 100.00

CREDIT SUISSE SICAV ONE (LUX)5, rue Jean MonnetL-2180 Luxembourg

www.credit-suisse.com

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