Universe, The CMI Global Network Fund - Fundsquare

Universe, The CMI Global Network Fund

UNAUDITED SEMI-ANNUAL REPORT as at 31 MARCH 2016

UNGEPRUFTER HALBJAHRESBERICHT zum 31. MARZ 2016CONTENTS Page - SeiteINHALTSVERZEICHNIS

Directors and Administration 2Mitglieder des Verwaltungsrates und der Geschaftsfuhrung

Investment Managers 4Anlageverwalter

Statement of Net Assets 5Nettovermogensaufstellung

Statement of Changes in Number of Shares Outstanding 5Veranderungen der im Umlauf befindlichen Aktien

Statement of Operations and Changes in Net Assets 13Aufwands- und Ertragsrechnung und Veranderung desNettovermogens

Three Year Summary 21Dreijahresubersicht

Notes to the Financial Statements 27Erlauterungen zum Jahresbericht

Portfolio and sector analysis of each Sub-Fund 43Wertpapierbestand und Sektorenaufschlusselung fur dieeinzelnen Teilfonds

Explanatory Notes 159Erlauterungen

No subscription can be accepted on the basis of the financial reports. Subscriptions are only valid if they are made on the basis of the latest published KeyInvestor Information Documents and prospectus accompanied by the latest Audited Annual Report or by the latest unaudited semi-annual report.

In case of differences between the English version and the other translations, the English version prevails.

Es konnen keine Zeichnungen auf der Grundlage der Finanzberichte angenommen werden. Zeichnungen sind nur dann gultig, wenn sie auf der Grundlageder zuletzt veroffentlichten wesentlichen Anlegerinformationen und des zuletzt veroffentlichten Prospekts sowie des letzten gepruften Jahresberichts oderdes letzten ungepruften Halbjahresberichts erfolgen.

Der geprufte Halbjahresbericht der ‘‘Universe, The CMI Global Network Fund’’ fur die am 31. Marz 2016 endende Geschaftsjahr und der Verkaufsprospektsind uber die Dresdner Bank AG, Jurgen-Ponto-Platz 1, D-60301 Frankfurt am Main erhaltlich.

Falls also Unterschiede zwischen der englischen und den ubersetzten Versionen bestehen, ist die englische Version massgebend.

Fur die Teilfonds: CMIG Access 70% Flexible Teilfond, CMIG Access 80% Flexible Teilfond, CMIG Access 90% Flexible Teilfond, CMIG Focus Euro BondTeilfond, CMI Euro Adventurous Managed Teilfond, CMI Euro Balanced Managed Teilfond, CMI Euro Cautious Managed Teilfond, CMI Sterling AdventurousManaged Teilfond, CMI Sterling Balanced Managed Teilfond, CMI Sterling Cautious Managed Teilfond, CMI Dollar Adventurous Managed Teilfond, CMI DollarBalanced Managed Teilfond und CMI Dollar Cautious Managed Teilfond, wurden keine Vertriebsanzeige bei der BaFin eingereicht und dementsprechenddurfen Aktien von diesen Teilfonds in Deutschland nicht offentlich vertrieben werden.


1

Directors and AdministrationMitglieder des Verwaltungsrates und derGeschaftsfuhrung

CHAIRMANVorsitzenderJ Clatworthy (Until 29 February 2016)Insurance Finance OperationsLloyds Banking GroupHarbourside, level 210, Canons WayBristol BS1 5LFGreat Britain / Großbritannien

Iain McGowan (As from 1 March 2016)Head of Fund Development and AnalysisInvestment Strategy & ExecutionLloyds Banking GroupScottish Widows,69 Morrison Street,Edinburgh, EH3 8YFScotland / Schottland

DIRECTORSMITGLIEDER DES VERWALTUNGSRATES

J ElvingerPartnerElvinger, Hoss & Prussen2, Place Winston Churchill, BP425L-2014 LuxembourgLuxembourg / Luxemburg

D ThomasExternal director38, Queen’s Gate TerraceLondon SW1 5PHGreat Britain / Großbritannien

W J ClarkePO Box 138,Evergreen House43, Circular Road, Douglas,Isle of ManIM99 1LT

S PuccilliLemanik Asset Management S.A.106, Route d’Arlon,L-8210 MamerLuxembourg / Luxemburg

REGISTERED OFFICEGESELLSCHAFTSSITZ106, Route d’Arlon,L-8210 MamerLuxembourg / Luxemburg

MANAGEMENT COMPANY AND GLOBAL DISTRIBUTORVERWALTUNGSGESELLSCHAFT UND GLOBALE VERTRIEBSSTELLELemanik Asset Management S.A.106, Route d’Arlon,L-8210 MamerLuxembourg / Luxemburg

CUSTODIAN, ADMINISTRATIVE, REGISTRAR ANDTRANSFER AGENTDEPOTBANK, VERWALTUNGS-, REGISTER- UNDTRANSFERSTELLERBC Investor Services Bank S.A.14, Porte de FranceL-4360 Esch-sur-AlzetteLuxembourg / Luxemburg


2

AUDITORABSCHLUSSPRUFERPricewaterhouseCoopers, Societe cooperative2, rue Gerhard MercatorL-2182 LuxembourgLuxembourg / Luxemburg

LEGAL ADVISERRECHTSBERATERElvinger, Hoss & Prussen2, Place Winston Churchill, BP425L-2014 LuxembourgLuxembourg / Luxemburg

REGISTER OF COMMERCEHANDELSREGISTERUniverse, The CMI Global Network FundSociete d’Investissement a Capital VariableR.C.S. Luxembourg / Luxemburg B 33 463

UK REPRESENTATIVEVERTRETUNG IN GROßBRITANNIENClerical Medical Financial Services Limited33, Old Broad StreetLondon EC2N 1HZEngland / England

GERMAN REPRESENTATIVEVERTRETUNG IN DEUTSCHLANDDeutsche Bank A.G.,Alfred Herrhausen Allee 16-24,D-65760 EschbornGermany / Deutschland


3

Directors and Administration - continuedMitglieder des Verwaltungsrates und derGeschaftsfuhrung - Fortsetzung

INVESTMENT MANAGERSANLAGEVERWALTER

Aberdeen Asset Investments Limited CMI Continental European Equity Sub-FundBow Bells House CMI Japan Enhanced Equity Sub-Fund1, Bread Street CMI Pacific Basin Enhanced Equity Sub-FundLondon EC4M 9HH CMI US Enhanced Equity Sub-FundUnited Kingdom / Großbritannien CMI UK Equity Sub-Fund

Euro Equity Index Tracking Sub-FundJapan Equity Index Tracking Sub-FundUK Equity Index Tracking Sub-FundUS Equity Index Tracking Sub-FundCMI Euro Bond Sub-FundCMI UK Bond Sub-FundCMI US Bond Sub-FundCMI Sterling Currency Reserve Sub-FundCMI US Dollar Currency Reserve Sub-FundCMI Euro Currency Reserve Sub-FundCMI Global Bond Sub-FundCMI Global Mixed Sub-FundCMI Global Equity Sub-FundCMI European Enhanced Equity Sub-FundCMIG Focus Euro Bond Sub-FundCMI Euro Adventurous Managed Sub-FundCMI Euro Balanced Managed Sub-FundCMI Euro Cautious Managed Sub-FundCMI Sterling Adventurous Managed Sub-FundCMI Sterling Balanced Managed Sub-FundCMI Sterling Cautious Managed Sub-FundCMI Dollar Adventurous Managed Sub-FundCMI Dollar Balanced Managed Sub-FundCMI Dollar Cautious Managed Sub-Fund

Insight Investment Management (Global) Limited CMIG Access 80% Sub-Fund160, Queen Victoria Street CMIG Access 70% Flexible Sub-FundLondon EC4V 4LA CMIG Access 80% Flexible Sub-FundUnited Kingdom / Großbritannien CMIG Access 90% Flexible Sub-Fund

HLE Euro-Garant 80 Flex


4

Statement of Net Assetsas at 31 March 2016

Nettovermogensaufstellungzum 31. Marz 2016

Notes

Total - Gesamt CMIContinentalEuropean

EquityErlauterungen EUR EUR

ASSETS VERMOGENInvestment portfolio at market value Wertpapierbestand zum Marktwert 2 3,113,994,767 786,897,147Cash at bank Bankguthaben 12 57,127,097 12,234,270Amounts receivable on sale of investments Forderungen aus Wertpapierverkaufen 21,053,338 422,147Amounts receivable on subscriptions Forderungen aus Zeichnungen 20,457,253 11,781,903Interests and dividends receivable, net Forderungen aus Zinsen und Dividenden, netto 18,883,865 499,821Net unrealised profit on futures Nicht realisierter Netto Gewinn aus

Finanztermingeschaften2, 12 187,226 -

Net unrealised profit on forward foreignexchange contracts

Nicht realisierter Netto Gewinn ausDevisentermingeschaften

2, 11 49,319 -

Other assets Sonstige Aktiva 631,240 558,088

3,232,384,106 812,393,376

LIABILITIES VERBINDLICHKEITENPayable for purchase on investments Verbindlichkeiten aus dem Kauf von Anlagen (54,757,839) (11,842,733)Net unrealised loss on futures Nicht realisierter Netto Verlust aus

Finanztermingeschaften2, 12 (132,926) (77,279)

Net unrealised loss on forward foreignexchange contracts

Nicht realisierter Netto Verlust ausDevisentermingeschaften

2, 11 (53,184) -

Other liabilities Sonstige Verbindlichkeiten (24,409,027) (813,908)

(79,352,976) (12,733,920)

TOTAL NET ASSETS NETTOVERMOGEN INSGESAMT 3,153,031,130 799,659,456

TOTAL NET ASSETS (EUR) NETTOVERMOGEN INSGESAMT (EUR) 3,153,031,130 799,659,456

Statement of Changes in Number of Shares OutstandingFor the period ended 31 March 2016

Veranderungen der im Umlauf befindlichen AktienFur die am 31. Marz 2016 endende Berichtsperiode

Shares Outstandingat 30 September 2015

Aktien im Umlaufam 30. September 2015 29,194,791

Subscriptions during the period Zeichnungen wahrend der Berichtsperiode 3,630,314Redemptions during the period Rucknahmen wahrend der Berichtsperiode (3,094,118)

Shares Outstandingat 31 March 2016*

Aktien im Umlaufam 31. Marz 2016* 29,730,987

Class 1 Shares Outstanding Aktien der Klasse 1 im Umlauf 91,268Net asset value per share Class 1 Nettoinventarwert pro Aktie der Klasse 1 26.871


Class 3 Shares Outstanding Aktien der Klasse 3 im Umlauf 28,711,609Net asset value per share Class 3 Nettoinventarwert pro Aktie der Klasse 3 26.883


Class 8 Shares Outstanding Aktien der Klasse 8 im Umlauf -Net asset value per share Class 8 Nettoinventarwert pro Aktie der Klasse 8 -


5

* Any differences in the number of shares outstanding are the result of roundings. - * Abweichungen bei der Anzahl der in Umlauf befindlichen Aktien resultieren aus Rundungen.

The accompanying notes form an integral part of these financial statements. - Die beigefugten Erlauterungen sind integraler Bestandteil dieses Abschlusses.

CMI JapanEnhanced

Equity

CMI PacificBasin Enhanced

Equity

CMI USEnhanced

Equity

CMI UK Equity Euro EquityIndex Tracking

Japan EquityIndex Tracking

UK Equity IndexTracking

JPY USD USD GBP EUR JPY GBP

9,024,032,896 77,030,970 140,830,120 78,929,910 16,543,661 1,548,430,351 41,932,501583,229,684 4,333,321 2,347,612 407,673 818,735 17,298,868 410,107

111,276 - - - 51,196 20,232 -317,831,457 934,380 209,000 2,805,872 - - -84,656,610 388,934 152,104 601,487 12,885 13,634,760 279,935

- 58,091 99,523 22,334 - - 4,408

- - - - - - -

- - - 6,990 18,054 8,040 3,994

10,009,861,923 82,745,696 143,638,359 82,774,266 17,444,531 1,579,392,251 42,630,945

- - - - - - -(5,873,702) - - - (4,400) (401,650) -

- - - - - - -

(4,474,154) (169,910) (171,218) (58,647) (573,256) (864,384) (389,878)

(10,347,856) (169,910) (171,218) (58,647) (577,656) (1,266,034) (389,878)

9,999,514,067 82,575,786 143,467,141 82,715,619 16,866,875 1,578,126,217 42,241,067

78,292,668 72,645,189 126,213,725 104,637,089 16,866,875 12,356,172 53,435,885

2,173,055 1,925,108 2,061,703 7,066,021 994,893 2,303,074 2,874,886409,681 242,462 123,118 818,366 611,692 1,625,736 335,586(29,148) (87,709) (374,961) (752,311) (689,074) (1,664,541) (364,186)

2,553,588 2,079,861 1,809,860 7,132,076 917,511 2,264,269 2,846,286

6,124 41,017 16,678 70,221 48,548 77,344 189,3963,852 39.067 78.390 11.601 17.573 701 14.774

49,498 465,420 123,470 928,077 199,409 471,875 2,050,2803,916 39.110 79.167 11.595 17.575 701 14.781

2,437,570 860,539 1,549,852 6,106,622 71,844 109,523 375,1333,915 39.115 79.212 11.595 17.574 701 14.785

60,396 712,885 119,861 27,156 4,198 - 43,2533,954 40.836 80.248 12.280 16.541 - 16.282

- - - - 593,513 1,605,528 188,224- - - - 18.832 695 15.340


6

Statement of Net Assets - continuedas at 31 March 2016

Nettovermogensaufstellung - Fortsetzungzum 31. Marz 2016

Statement of Changes in Number of Shares Outstanding - continuedFor the period ended 31 March 2016

Veranderungen der im Umlauf befindlichen Aktien - FortsetzungFur die am 31. Marz 2016 endende Berichtsperiode



Notes

US Equity IndexTracking

CMI Euro Bond

Erlauterungen USD EURASSETS VERMOGENInvestment portfolio at market value Wertpapierbestand zum Marktwert 2 69,240,766 15,133,161Cash at bank Bankguthaben 12 742,344 123,900Amounts receivable on sale of investments Forderungen aus Wertpapierverkaufen 8,806 90,289Amounts receivable on subscriptions Forderungen aus Zeichnungen - 15,000Interests and dividends receivable, net Forderungen aus Zinsen und Dividenden, netto 74,719 157,174Net unrealised profit on futures Nicht realisierter Netto Gewinn aus

Finanztermingeschaften2, 12 16,752 -



2, 11 - -

Other assets Sonstige Aktiva - -

70,083,387 15,519,524

LIABILITIES VERBINDLICHKEITENPayable for purchase on investments Verbindlichkeiten aus dem Kauf von Anlagen (75,099) (829,726)Net unrealised loss on futures Nicht realisierter Netto Verlust aus

Finanztermingeschaften2, 12 - -



2, 11 - -

Other liabilities Sonstige Verbindlichkeiten (313,383) (10,876)

(388,482) (840,602)

TOTAL NET ASSETS NETTOVERMOGEN INSGESAMT 69,694,905 14,678,922

TOTAL NET ASSETS (EUR) NETTOVERMOGEN INSGESAMT (EUR) 61,313,368 14,678,922


Aktien im Umlaufam 30. September 2015 1,216,271 275,913

Subscriptions during the period Zeichnungen wahrend der Berichtsperiode 740,811 33,526Redemptions during the period Rucknahmen wahrend der Berichtsperiode (736,026) (19,639)


Aktien im Umlaufam 31. Marz 2016* 1,221,056 289,800

Class 1 Shares Outstanding Aktien der Klasse 1 im Umlauf 58,177 14,472Net asset value per share Class 1 Nettoinventarwert pro Aktie der Klasse 1 57.955 47.484




Class 8 Shares Outstanding Aktien der Klasse 8 im Umlauf 718,765 -Net asset value per share Class 8 Nettoinventarwert pro Aktie der Klasse 8 56.320 -


7







CMI UK Bond CMI US Bond CMI SterlingCurrencyReserve

CMI US DollarCurrencyReserve

CMI EuroCurrencyReserve

CMI GlobalBond

CMI GlobalMixed

GBP USD GBP USD EUR GBP GBP

19,488,123 93,029,589 51,152,465 33,740,620 220,812,923 12,320,480 45,307,83119,467 237,626 188,918 820,397 4,661 19,462 198,027

- - 501,110 - 10,009,025 147,421 116,442- - 1,210,627 3,500 - - -

93,532 399,377 132,743 58,762 1,502,757 48,101 187,951- - - - - - -

- - - - - - -

- - - - 233 - 1,359

19,601,122 93,666,592 53,185,863 34,623,279 232,329,599 12,535,464 45,811,610

- - - - (1,038,018) (135,633) (116,510)- - - - - - -

(7,498) (6,997) - - - (29,678) -

(26,665) (1,178,485) (26,470) (11,475) (2,988,389) (7,464) (16,845)

(34,163) (1,185,482) (26,470) (11,475) (4,026,407) (172,775) (133,355)

19,566,959 92,481,110 53,159,393 34,611,804 228,303,192 12,362,689 45,678,255

24,752,636 81,359,294 67,247,809 30,449,375 228,303,192 15,639,075 57,784,004

2,302,989 7,006,513 10,594,071 3,622,122 9,212,918 8,405,902 19,739,188212,143 314,645 639,699 230,815 1,092,190 272,078 629,550

(142,536) (588,106) (437,982) (381,465) (1,069,787) (748,392) (696,374)

2,372,596 6,733,052 10,795,788 3,471,472 9,235,321 7,929,588 19,672,364

165,803 26,237 542,092 27,500 1,560 354,725 508,8068.241 13.485 4.922 9.793 24.713 1.619 2.319

1,763,900 277,408 9,122,694 599,727 430,383 6,532,279 19,163,5598.247 13.505 4.924 9.825 24.714 1.624 2.322

442,893 6,268,201 1,131,002 2,792,625 8,721,643 1,042,584 -8.250 13.507 4.922 9.825 24.710 1.131 -

- 161,205 - 51,621 81,735 - -- 23.052 - 19.602 25.908 - -

- - - - - - -- - - - - - -


8







Notes

CMI GlobalEquity

CMI EuropeanEnhanced

Equity

Erlauterungen GBP EURASSETS VERMOGENInvestment portfolio at market value Wertpapierbestand zum Marktwert 2 15,313,329 18,374,915Cash at bank Bankguthaben 12 79,029 816,595Amounts receivable on sale of investments Forderungen aus Wertpapierverkaufen - -Amounts receivable on subscriptions Forderungen aus Zeichnungen - 25,000Interests and dividends receivable, net Forderungen aus Zinsen und Dividenden, netto 61,513 11,627Net unrealised profit on futures Nicht realisierter Netto Gewinn aus




2, 11 - -

Other assets Sonstige Aktiva 1,189 15,627

15,455,060 19,243,764

LIABILITIES VERBINDLICHKEITENPayable for purchase on investments Verbindlichkeiten aus dem Kauf von Anlagen - -Net unrealised loss on futures Nicht realisierter Netto Verlust aus

Finanztermingeschaften2, 12 - (2,113)



2, 11 - -


(5,947) (12,594)

TOTAL NET ASSETS NETTOVERMOGEN INSGESAMT 15,449,113 19,231,170

TOTAL NET ASSETS (EUR) NETTOVERMOGEN INSGESAMT (EUR) 19,543,470 19,231,170


Aktien im Umlaufam 30. September 2015 6,347,653 805,897

Subscriptions during the period Zeichnungen wahrend der Berichtsperiode 266,116 47,337Redemptions during the period Rucknahmen wahrend der Berichtsperiode (327,748) (15,294)


Aktien im Umlaufam 31. Marz 2016* 6,286,021 837,940

Class 1 Shares Outstanding Aktien der Klasse 1 im Umlauf 334,871 -Net asset value per share Class 1 Nettoinventarwert pro Aktie der Klasse 1 2.459 -

Class 2 Shares Outstanding Aktien der Klasse 2 im Umlauf 5,951,150 -Net asset value per share Class 2 Nettoinventarwert pro Aktie der Klasse 2 2.458 -

Class 3 Shares Outstanding Aktien der Klasse 3 im Umlauf - -Net asset value per share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - -

Class 7 Shares Outstanding Aktien der Klasse 7 im Umlauf - 837,940Net asset value per share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - 22.951



9







CMIG FocusEuro Bond

CMIG Access80%

CMIG Access70% Flexible




CMI EuroAdventurous

Managed Fund

EUR EUR EUR EUR EUR EUR EUR

952,250,557 76,805,428 14,722,722 125,161,982 7,301,344 13,647,141 767,1173,818,561 3,791,343 1,522,725 17,009,785 679,830 2,245,833 3592,490,121 7,000,000 - - - - -

- - - - - - -9,917,184 1,162,786 124,748 1,626,642 66,110 141,097 -

- - - - - - -

49,319 - - - - - -

- - 5,906 13,729 - 2,422 -

968,525,742 88,759,557 16,376,101 143,812,138 8,047,284 16,036,493 767,476

(33,446,441) (7,203,495) - - - - -- - - - - - -

- - - - - - -

(16,700,164) (354,062) (124,813) (238,068) (4,184) (63,107) (1,128)

(50,146,605) (7,557,557) (124,813) (238,068) (4,184) (63,107) (1,128)

918,379,137 81,202,000 16,251,288 143,574,070 8,043,100 15,973,386 766,348

918,379,137 81,202,000 16,251,288 143,574,070 8,043,100 15,973,386 766,348

22,549,847 3,877,635 3,219,677 28,062,864 1,745,036 2,834,672 29,7611,203,397 42,286 188,113 1,614,686 25,765 210,535 809

(2,989,919) (382,959) (356,995) (1,958,990) (175,264) (121,285) (2,648)

20,763,325 3,536,962 3,050,795 27,718,560 1,595,537 2,923,922 27,922

- - - - - 2,923,922 -- - - - - 5.462 -

- - - - - - 27,922- - - - - - 27.446

20,763,325 - - - - - -44.231 - - - - - -

- 3,536,962 3,050,795 27,718,560 1,595,537 - -- 22.958 5.327 5.180 5.040 - -

- - - - - - -- - - - - - -


10







Notes

CMI EuroBalanced

Managed Fund

CMI EuroCautious

Managed Fund

Erlauterungen EUR EURASSETS VERMOGENInvestment portfolio at market value Wertpapierbestand zum Marktwert 2 1,946,353 559,523Cash at bank Bankguthaben 12 9,017 2,242Amounts receivable on sale of investments Forderungen aus Wertpapierverkaufen - -Amounts receivable on subscriptions Forderungen aus Zeichnungen - -Interests and dividends receivable, net Forderungen aus Zinsen und Dividenden, netto - 582Net unrealised profit on futures Nicht realisierter Netto Gewinn aus




2, 11 - -

Other assets Sonstige Aktiva - -

1,955,370 562,347

LIABILITIES VERBINDLICHKEITENPayable for purchase on investments Verbindlichkeiten aus dem Kauf von Anlagen - -Net unrealised loss on futures Nicht realisierter Netto Verlust aus




2, 11 - -


(22,109) (2,071)

TOTAL NET ASSETS NETTOVERMOGEN INSGESAMT 1,933,261 560,276

TOTAL NET ASSETS (EUR) NETTOVERMOGEN INSGESAMT (EUR) 1,933,261 560,276


Aktien im Umlaufam 30. September 2015 74,410 23,714

Subscriptions during the period Zeichnungen wahrend der Berichtsperiode 1,719 864Redemptions during the period Rucknahmen wahrend der Berichtsperiode (3,010) -


Aktien im Umlaufam 31. Marz 2016* 73,119 24,578







11







CMI SterlingAdventurous

Managed Fund

CMI SterlingBalanced Managed

Fund

CMI SterlingCautious Managed

Fund

CMI DollarAdventurous

Managed Fund

CMI DollarBalanced Managed

Fund

CMI DollarCautious Managed

Fund

GBP GBP GBP USD USD USD

3,154,454 26,430,404 28,436,263 1,207,378 5,812,786 2,375,9882,438 19,176 118,444 26,492 9,342 4,609

- - - - - 16,000- - 45,000 - - -

6,551 56,131 70,461 - - -- - - - - -

- - - - - -

- - - - - -

3,163,443 26,505,711 28,670,168 1,233,870 5,822,128 2,396,597

- - - (14,086) - -- - - - - -

- - - - - -

(1,657) (24,726) (89,757) (1,076) (2,699) (16,859)

(1,657) (24,726) (89,757) (15,162) (2,699) (16,859)

3,161,786 26,480,985 28,580,411 1,218,708 5,819,429 2,379,738

3,999,729 33,499,032 36,154,853 1,072,146 5,119,582 2,093,550

110,908 921,253 1,135,890 35,385 179,213 74,4672,267 38,491 42,483 989 3,974 3,793

(5,879) (33,789) (38,926) (1,973) (13,641) (2,268)

107,296 925,955 1,139,447 34,401 169,546 75,992

- - - - - -- - - - - -

107,296 925,955 1,139,447 34,401 169,546 75,99229.468 28.599 25.083 35.427 34.324 31.316

- - - - - -- - - - - -

- - - - - -- - - - - -

- - - - - -- - - - - -


12







Statement of Operations and Changes in Net AssetsFor the period ended 31 March 2016

Aufwands- und Ertragsrechnung und Veranderung des NettovermogensFur die am 31. Marz 2016 endende Berichtsperiode

NotesErlauterungen

Total - Gesamt CMI ContinentalEuropean Equity

EUR EUR

NET ASSETS AT THE BEGINNING OF THEPERIOD

NETTOVERMOGEN ZU BEGINN DERBERICHTSPERIODE

3,254,835,446 816,318,697

INCOME ERTRAGEDividends, net Dividenden, netto 2 14,010,202 5,444,594Interests on bonds, net Zinsen aus Anleihen, netto 2 14,493,912 -Bank interest Zinsen aus Bankguthaben 29,038 -Other income Sonstige Ertrage 7 529,801 208,299Income Equalisation Ertragsausgleich 2 225,074 112,089

TOTAL INCOME ERTRAGE INSGESAMT 29,288,027 5,764,982

EXPENSES AUFWENDUNGENManagement fees and investment advisory fees Verwaltungsgebuhren und

Anlageberatungsgebuhren3 (1,123,745) (220,125)

Custodian fees Depotbankebuhren 4 (171,601) (52,248)Audit, printing and publication expenses Revisionskosten, Druck- und

Veroffentlichungskosten(93,509) (24,972)

Taxe d’abonnement Taxe d’abonnement 5 (184,905) (42,288)Bank charges Bankspesen (45,427) (21,282)Other charges Sonstige Aufwendungen 2 (844,417) (193,593)Expense Equalisation Ertragsausgleich 2 (887,742) -

TOTAL EXPENSES AUFWENDUNGEN INSGESAMT (3,351,346) (554,508)

NET INCOME / (LOSS) FROM INVESTMENTS NETTOERTRAG / NETTOAUFWAND AUSANLAGEN

25,936,681 5,210,474

Net realised gain/(loss) on sale of investments Realisierter Nettogewinn / (-verlust) ausWertpapierverkaufen

2 4,160,648 (484,928)

Net realised gain/(loss) on forward foreignexchange

Realisierter Nettogewinn / (-verlust) ausDevisentermingeschaften

675,705 -

Net realised gain/(loss) on futures Realisierter Nettogewinn / (-verlust) ausFinanztermingeschaften

649,526 238,638

Net realised gain/(loss) on foreign exchange Realisierter Nettogewinn / (-verlust) ausDevisengeschaften

2 20,909 (64,866)

NET REALISED PROFIT/(LOSS) REALISIERTER NETTOGEWINN / (-VERLUST) 31,443,469 4,899,318Change in net unrealised appreciation/(depreciation) on investments

Veranderung des/der nicht realisiertenWertanstiegs/Wertminderung aus Wertpapieren

34,177,761 (14,458,427)

Change in net unrealised appreciation/(depreciation) on futures

Veranderung des/der nicht realisiertenWertanstiegs/Wertminderung ausFinanztermingeschaften

622,254 167,715

Change in net unrealised appreciation/(depreciation) on forward foreign exchangecontracts

Veranderung des/der nicht realisiertenWertanstiegs/Wertminderung ausDevisentermingeschaften

(275,990) -

NET INCREASE/(DECREASE) IN NET ASSETSAS A RESULT OF OPERATIONS

NETTOERHOHUNG/NETTOVERMINDERUNGDES NETTOVERMOGENS

65,967,494 (9,391,394)

EVOLUTION OF THE CAPITAL ENTWICKLUNG DES NETTOVERMOGENSSubscriptions of shares Zeichnungen von Aktien 14 317,885,962 99,694,614Redemptions of shares Rucknahmen von Aktien 14 (393,475,802) (84,983,209)Dividends distributed Ausschuttungen 6 (63,680,255) (21,867,163)Income / Expense Equalisation Ertragsausgleich 2 662,668 (112,089)Currency Translation Wahrungsdifferenz (29,164,383) -

NET ASSETS AT THE END OF THE PERIOD NETTOVERMOGEN AM ENDE DERBERICHTSPERIODE

3,153,031,130 799,659,456


13


CMI JapanEnhanced Equity

CMI Pacific BasinEnhanced Equity

CMI US EnhancedEquity

CMI UK Equity Euro Equity IndexTracking

Japan Equity IndexTracking


JPY USD USD GBP EUR JPY GBP

8,986,186,896 73,799,025 151,470,061 81,885,496 18,393,311 1,710,894,599 42,539,923

93,206,583 749,883 1,478,351 1,459,518 111,106 15,492,559 822,086- - - - - - -- 9,618 - 10,924 - - 1,556

473,856 7,770 1,761 14,698 12,545 24,101 7,9603,107,079 23,313 - - - 728,733 -

96,787,518 790,584 1,480,112 1,485,140 123,651 16,245,393 831,602

(2,710,016) (20,294) (39,856) (23,325) (4,941) (455,690) (11,722)

(444,018) (19,059) (3,085) (921) (1,718) (148,568) (624)(292,174) (2,253) (4,710) (2,463) (551) (49,535) (1,246)

(526,297) (4,332) (7,811) (4,470) (4,942) (484,597) (3,701)(698,109) (164) (47) - (284) (27,983) -

(3,182,752) (62,615) (33,194) (28,362) (19,807) (2,058,018) (25,045)- - (135,060) (54,444) (32,826) - (39,088)

(7,853,366) (108,717) (223,763) (113,985) (65,069) (3,224,391) (81,426)

88,934,152 681,867 1,256,349 1,371,155 58,582 13,021,002 750,176

133,947,019 (2,699,570) 6,113,730 (1,028,346) 41,227 3,059,417 637,785

- - - - - - -

(42,121,184) 205,331 733,625 (26,599) (14,111) 1,324,781 26,305

(12,824) 152,960 (150) (2,273) 1,404 145,439 (1,184)

180,747,163 (1,659,412) 8,103,554 313,937 87,102 17,550,639 1,413,082(617,267,593) 6,786,661 4,781,606 2,463,356 (571,469) (86,853,731) 56,852

(2,964,202) 73,666 305,284 75,095 108 (209,830) 6,065

- - - - - - -

(439,484,632) 5,200,915 13,190,444 2,852,388 (484,259) (69,512,922) 1,475,999

1,734,611,204 9,240,400 9,348,442 9,541,732 12,215,430 1,284,139,548 5,015,367(123,250,023) (3,186,588) (28,158,495) (8,577,285) (12,816,984) (1,322,982,024) (5,283,253)(155,442,299) (2,454,653) (2,518,371) (3,041,156) (473,449) (23,684,251) (1,546,057)

(3,107,079) (23,313) 135,060 54,444 32,826 (728,733) 39,088- - - - - - -

9,999,514,067 82,575,786 143,467,141 82,715,619 16,866,875 1,578,126,217 42,241,067


14

Statement of Operations and Changes in Net Assets - continuedFor the period ended 31 March 2016

Aufwands- und Ertragsrechnung und Veranderung des Nettovermogens - FortsetzungFur die am 31. Marz 2016 endende Berichtsperiode


NotesErlauterungen


CMI Euro Bond

USD EUR



64,950,481 13,731,543

INCOME ERTRAGEDividends, net Dividenden, netto 2 625,279 -Interests on bonds, net Zinsen aus Anleihen, netto 2 - 162,593Bank interest Zinsen aus Bankguthaben - -Other income Sonstige Ertrage 7 81 432Income Equalisation Ertragsausgleich 2 - 2,602

TOTAL INCOME ERTRAGE INSGESAMT 625,360 165,627


Anlageberatungsgebuhren3 (19,422) (3,976)


Veroffentlichungskosten(1,989) (392)

Taxe d’abonnement Taxe d’abonnement 5 (16,711) (853)Bank charges Bankspesen (14) (127)Other charges Sonstige Aufwendungen 2 (66,749) (14,358)Expense Equalisation Ertragsausgleich 2 (126,426) -

TOTAL EXPENSES AUFWENDUNGEN INSGESAMT (232,996) (21,122)


392,364 144,505


2 904,724 222,916



- 481


(42,398) -


2 4,462 (58)

NET REALISED PROFIT/(LOSS) REALISIERTER NETTOGEWINN / (-VERLUST) 1,259,152 367,844Change in net unrealised appreciation/(depreciation) on investments


5,070,241 190,055



47,598 -



- (525)



6,376,991 557,374

EVOLUTION OF THE CAPITAL ENTWICKLUNG DES NETTOVERMOGENSSubscriptions of shares Zeichnungen von Aktien 14 40,796,546 1,703,988Redemptions of shares Rucknahmen von Aktien 14 (41,657,149) (996,796)Dividends distributed Ausschuttungen 6 (898,390) (314,585)Income / Expense Equalisation Ertragsausgleich 2 126,426 (2,602)Currency Translation Wahrungsdifferenz - -


69,694,905 14,678,922


15




CMI UK Bond CMI US Bond CMI SterlingCurrency Reserve

CMI US DollarCurrency Reserve

CMI Euro CurrencyReserve

CMI Global Bond CMI Global Mixed

GBP USD GBP USD EUR GBP GBP

18,897,161 95,887,241 52,553,555 36,266,230 230,352,517 12,001,986 41,902,884

- - - - - - 333,502261,792 703,906 304,931 208,119 1,568,521 93,868 128,398

- - 3,475 448 - - -197 1,951 556 2,359 8,762 6,579 244

2,620 - 7,261 - 41,077 - -

264,609 705,857 316,223 210,926 1,618,360 100,447 462,144

(5,340) (22,960) (14,394) (9,604) (61,685) (3,777) (12,084)

(608) (2,320) (1,893) (1,685) (9,302) (806) (2,460)(527) (2,616) (1,509) (1,009) (6,227) (329) (1,226)

(1,217) (4,616) (2,621) (1,728) (11,218) (709) (2,454)(56) (6) - - (660) (15) (1)

(4,972) (17,748) (10,700) (8,724) (40,098) (4,981) (13,542)- (8,727) - (937) - (2,404) (3,393)

(12,720) (58,993) (31,117) (23,687) (129,190) (13,021) (35,160)

251,889 646,864 285,106 187,239 1,489,170 87,426 426,984

(11,607) 1,072,955 (91,460) (118,323) (832,681) (9,379) (1,065,578)

(31,878) 230,624 - - - 23,249 -

- - - - - - -

11,206 39,358 56 (47) (97) 3,782 (66,040)

219,610 1,989,801 193,702 68,869 656,392 105,078 (704,634)462,840 348,972 (9,104) 18,385 (282,790) 1,201,678 5,647,561

- - - - - - -

(7,106) (195,895) - - - (34,414) -

675,344 2,142,878 184,598 87,254 373,602 1,272,342 4,942,927

1,709,708 4,334,161 3,145,839 2,463,331 26,982,680 367,560 1,363,574(1,148,856) (7,910,404) (2,151,791) (3,953,905) (26,437,387) (1,017,295) (1,510,445)(563,778) (1,981,493) (565,547) (252,043) (2,927,143) (264,308) (1,024,078)

(2,620) 8,727 (7,261) 937 (41,077) 2,404 3,393- - - - - - -

19,566,959 92,481,110 53,159,393 34,611,804 228,303,192 12,362,689 45,678,255


16




NotesErlauterungen

CMI Global Equity CMI EuropeanEnhanced Equity

GBP EUR



14,194,371 19,449,539

INCOME ERTRAGEDividends, net Dividenden, netto 2 167,052 96,465Interests on bonds, net Zinsen aus Anleihen, netto 2 - -Bank interest Zinsen aus Bankguthaben - -Other income Sonstige Ertrage 7 69 10,408Income Equalisation Ertragsausgleich 2 - 939



Anlageberatungsgebuhren3 (4,050) (5,393)


Veroffentlichungskosten(419) (592)

Taxe d’abonnement Taxe d’abonnement 5 (919) (1,016)Bank charges Bankspesen (15) (884)Other charges Sonstige Aufwendungen 2 (6,301) (11,166)Expense Equalisation Ertragsausgleich 2 (1,456) -



152,706 87,029


2 (624,900) 56,257



- -


- (43,945)


2 (2,301) (7)

NET REALISED PROFIT/(LOSS) REALISIERTER NETTOGEWINN / (-VERLUST) (474,495) 99,334Change in net unrealised appreciation/(depreciation) on investments


2,248,068 (555,685)



- 1,362



- -



1,773,573 (454,989)

EVOLUTION OF THE CAPITAL ENTWICKLUNG DES NETTOVERMOGENSSubscriptions of shares Zeichnungen von Aktien 14 612,573 1,142,321Redemptions of shares Rucknahmen von Aktien 14 (759,346) (365,000)Dividends distributed Ausschuttungen 6 (373,514) (539,762)Income / Expense Equalisation Ertragsausgleich 2 1,456 (939)Currency Translation Wahrungsdifferenz - -


15,449,113 19,231,170


17




CMIG Focus EuroBond

CMIG Access 80% CMIG Access 70%Flexible

CMIG Access 80%Flexible

CMIG Access 90%Flexible

HLE Euro-Garant80 Flex

CMI EuroAdventurous

Managed FundEUR EUR EUR EUR EUR EUR EUR

977,613,824 89,430,407 17,491,821 146,667,927 8,820,980 15,740,934 808,130

- - 27,148 79,995 263 8,455 7,7909,791,211 267,075 73,537 700,895 43,560 86,087 -

- - - - - - -68,310 150,104 2,972 11,072 1,407 1,009 -

- - - - - 220 -

9,859,521 417,179 103,657 791,962 45,230 95,771 7,790

(262,627) (65,808) (13,135) (113,389) (6,545) (124,887) (217)

(38,977) (4,800) (1,480) (10,880) (1,013) (1,285) (169)(26,938) (2,468) (500) (4,214) (244) (463) (24)

(46,710) (4,153) (822) (7,074) (374) (3,975) (24)(6,563) (8,078) (407) (378) (386) (232) (8)

(147,026) (16,328) (4,892) (26,721) (1,689) (6,697) (2,511)(467,269) (9,129) (1,889) (2,781) (1,226) - (397)

(996,110) (110,764) (23,125) (165,437) (11,477) (137,539) (3,350)

8,863,411 306,415 80,532 626,525 33,753 (41,768) 4,440

4,296,447 (230,089) (201,321) (1,399,341) (33,105) (166,005) 13,974

483,251 - - - - - -

- - - - - - -

(15,896) (31) (7) (44) (3) (5) 30

13,627,213 76,295 (120,796) (772,860) 645 (207,778) 18,44423,268,436 (113,831) (186,626) (538,778) (24,751) (59,550) (623)

- - - - - - -

(50,605) - - - - - -

36,845,044 (37,536) (307,422) (1,311,638) (24,106) (267,328) 17,821

51,913,372 970,867 1,015,000 8,445,000 130,000 1,164,000 21,396(130,202,000) (8,795,000) (1,950,000) (10,230,000) (885,000) (664,000) (75,000)(18,258,372) (375,867) - - - - (6,396)

467,269 9,129 1,889 2,781 1,226 (220) 397- - - - - - -

918,379,137 81,202,000 16,251,288 143,574,070 8,043,100 15,973,386 766,348


18




NotesErlauterungen

CMI Euro BalancedManaged Fund

CMI Euro CautiousManaged Fund

EUR EUR



1,956,732 536,866

INCOME ERTRAGEDividends, net Dividenden, netto 2 31,553 8,308Interests on bonds, net Zinsen aus Anleihen, netto 2 - -Bank interest Zinsen aus Bankguthaben - -Other income Sonstige Ertrage 7 - -Income Equalisation Ertragsausgleich 2 - 204



Anlageberatungsgebuhren3 (551) (148)

Custodian fees Depotbankebuhren 4 (251) (152)Audit, printing and publication expenses Revisionskosten, Druck- und

Veroffentlichungskosten(57) (16)

Taxe d’abonnement Taxe d’abonnement 5 (27) (11)Bank charges Bankspesen (13) (4)Other charges Sonstige Aufwendungen 2 (4,631) (3,710)Expense Equalisation Ertragsausgleich 2 (508) -



25,515 4,471


2 4,344 84



- -


- -


2 20 56

NET REALISED PROFIT/(LOSS) REALISIERTER NETTOGEWINN / (-VERLUST) 29,879 4,611Change in net unrealised appreciation/(depreciation) on investments


(3,858) 4,003



- -



- -



26,021 8,614

EVOLUTION OF THE CAPITAL ENTWICKLUNG DES NETTOVERMOGENSSubscriptions of shares Zeichnungen von Aktien 14 47,633 19,941Redemptions of shares Rucknahmen von Aktien 14 (80,000) -Dividends distributed Ausschuttungen 6 (17,633) (4,941)Income / Expense Equalisation Ertragsausgleich 2 508 (204)Currency Translation Wahrungsdifferenz - -


1,933,261 560,276


19





Managed Fund

CMI SterlingBalanced

Managed Fund

CMI SterlingCautious Managed

Fund


Managed Fund

CMI DollarBalanced

Managed Fund

CMI DollarCautious Managed

FundGBP GBP GBP USD USD USD

3,048,033 25,035,921 27,964,901 1,190,581 5,889,826 2,226,254

51,137 468,170 439,133 18,144 75,977 20,869- - - - - -- - - - - -- - - - - -- 2,249 1,356 - - 387

51,137 470,419 440,489 18,144 75,977 21,256

(863) (7,234) (7,836) (329) (1,569) (646)

(251) (2,071) (1,772) (220) (530) (427)(90) (750) (822) (37) (174) (66)

(88) (602) (892) (21) (121) (64)(5) (7) (59) (1) (30) (6)

(2,046) (5,906) (6,180) (2,116) (3,266) (2,794)(1,428) - - (422) (3,981) -

(4,771) (16,570) (17,561) (3,146) (9,671) (4,003)

46,366 453,849 422,928 14,998 66,306 17,253

(3,315) (12,002) (18,579) (17,925) (8,990) 2,501

- - - - - -

- - - - - -

111 1,112 39 (275) (2,955) (599)

43,162 442,959 404,388 (3,202) 54,361 19,155204,163 1,224,354 472,478 70,907 261,261 109,716

- - - - - -

- - - - - -

247,325 1,667,313 876,866 67,705 315,622 128,871

64,819 1,075,993 1,063,629 34,832 132,724 115,859(170,000) (940,000) (965,000) (65,000) (455,000) (70,000)(29,819) (355,993) (358,629) (9,832) (67,724) (20,859)

1,428 (2,249) (1,356) 422 3,981 (387)- - - - - -

3,161,786 26,480,985 28,580,411 1,218,708 5,819,429 2,379,738


20




Three Year SummaryDreijahresubersicht

CMI ContinentalEuropean Equity

CMI JapanEnhanced Equity

CMI Pacific BasinEnhanced Equity

EUR JPY USD

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 799,659 9,999,514 82,576Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 26.871 3,852 39.067Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 26.880 3,916 39.110Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 26.883 3,915 39.115Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 27.906 3,954 40.836Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 816,319 8,986,187 73,799Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 27.681 4,047 37.504Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 27.899 4,131 37.734Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 27.949 4,135 37.779Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 29.006 4,174 39.428

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 881,931 10,849,425 108,355Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 26.922 3,824 45.169Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 27.200 3,909 45.518Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 27.263 3,913 45.585Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 28.290 3,950 47.572

CMI USEnhanced Equity

CMI UK Equity Euro EquityIndex Tracking

USD GBP EUR

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 143,467 82,716 16,867Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 78.390 11.601 17.573Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 79.167 11.595 17.575Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 79.212 11.595 17.574Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 80.248 12.280 16.541Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - 18.832

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 151,470 81,885 18,393Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 72.286 11.487 18.477Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 73.328 11.569 18.529Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 73.438 11.589 18.538Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 74.378 12.271 17.443

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 221,185 98,271 19,191Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 75.655 12.149 18.993Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 76.830 12.274 19.060Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 76.961 12.303 19.072Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 77.941 13.026 17.943


21


Japan EquityIndex Tracking



JPY GBP USD

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 1,578,126 42,241 69,695Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 701 14.774 57.955Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 701 14.781 58.004Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 701 14.785 58.000Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - 16.282 59.802Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 695 15.340 56.320

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 1,710,895 42,540 64,950Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 742 14.738 53.276Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 744 14.780 53.464Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 744 14.792 53.488Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - 16.285 55.135

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 1,923,385 58,607 69,732Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 723 15.676 55.836Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 725 15.736 56.068Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 725 15.752 56.100Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - 17.340 57.823

CMI Euro Bond CMI UK Bond CMI US Bond

EUR GBP USD

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 14,679 19,567 92,481Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 47.484 8.241 13.485Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 47.882 8.247 13.505Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 47.888 8.250 13.507Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 52.392 - 23.052Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 13,732 18,897 95,887Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 46.534 8.166 13.392Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 47.118 8.207 13.466Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 47.165 8.216 13.480Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 51.587 - 23.000

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 12,263 23,835 104,283Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 45.932 7.856 13.214Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 46.563 7.906 13.306Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 46.621 7.917 13.324Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 50.989 - 22.731


22

Three Year Summary - continuedDreijahresubersicht - Fortsetzung


CMI SterlingCurrencyReserve

CMI US DollarCurrencyReserve

CMI EuroCurrencyReserve

GBP USD EUR

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 53,159 34,612 228,303Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 4.922 9.793 24.713Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 4.924 9.825 24.714Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 4.922 9.825 24.710Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - 19.602 25.908Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 52,554 36,266 230,353Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 4.946 9.810 24.924Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 4.961 9.866 24.985Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 4.961 9.871 24.994Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - 19.688 26.198

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 53,217 40,305 253,152Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 4.974 9.864 25.160Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 4.995 9.931 25.243Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 4.995 9.937 25.257Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - 19.819 26.471

CMI Global Bond CMI GlobalMixed

CMI GlobalEquity

GBP GBP GBP

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 12,363 45,678 15,449Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 1.619 2.319 2.459Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 1.624 2.322 2.458Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 1.131 - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 12,002 41,903 14,194Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 1.480 2.104 2.219Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 1.495 2.123 2.237Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 1.043 - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 12,764 49,142 17,354Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 1.452 2.303 2.554Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 1.471 2.333 2.583Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 1.016 - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -


23



CMI EuropeanEnhanced Equity

CMIG Focus EuroBond

CMIG Access80%

EUR EUR EUR

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 19,231 918,379 81,202Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - - -Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - 44.231 -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 22.951 - 22.958Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 19,450 977,614 89,430Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - - -Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - 43.353 -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 24.134 - 23.063

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 19,223 994,898 104,651Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - - -Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - 43.563 -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 24.925 - 23.197




EUR EUR EUR

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 16,251 143,574 8,043Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - - -Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 5.327 5.180 5.040Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 17,492 146,668 8,821Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - - -Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 5.433 5.226 5.055

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 18,969 147,093 11,076Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - - -Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 5.682 5.333 5.083


24



HLE Euro-Garant80 Flex

CMI EuroAdventurous

Managed Fund

CMI EuroBalanced

Managed FundEUR EUR EUR

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 15,973 766 1,933Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 5.462 - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - 27.446 26.440Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 15,741 808 1,957Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 5.552 - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - 27.154 26.296Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 14,228 870 1,021Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 5.739 - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 - 26.106 24.922Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -

CMI EuroCautious

Managed Fund


Managed Fund

CMI SterlingBalanced

Managed FundEUR GBP GBP

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 560 3,162 26,481Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 22.796 29.468 28.599Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 537 3,048 25,036Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 22.639 27.483 27.176Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 406 3,558 27,817Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 22.330 28.191 27.577Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -


25



CMI SterlingCautious

Managed Fund


Managed Fund

CMI DollarBalanced

Managed FundGBP USD USD

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 28,580 1,219 5,819Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 25.083 35.427 34.324Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 - - -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 27,965 1,191 5,890Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 24.619 33.647 32.865Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 30,208 1,374 6,443Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 - - -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 24.673 35.536 34.053Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 - - -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 - - -

CMI DollarCautious

Managed FundUSD

as at 31 March 2016 zum 31. Marz 2016Net assets (000’s) Nettovermogen (in Tausend) 2,380Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 31.316Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 -Net Asset Value per Share Class 8 Nettoinventarwert pro Aktie der Klasse 8 -

as at 30 September 2015 zum 30. September 2015Net assets (000’s) Nettovermogen (in Tausend) 2,226Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 29.896Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 -

as at 30 September 2014 zum 30. September 2014Net assets (000’s) Nettovermogen (in Tausend) 2,084Net Asset Value per Share Class 1 Nettoinventarwert pro Aktie der Klasse 1 -Net Asset Value per Share Class 2 Nettoinventarwert pro Aktie der Klasse 2 30.162Net Asset Value per Share Class 3 Nettoinventarwert pro Aktie der Klasse 3 -Net Asset Value per Share Class 7 Nettoinventarwert pro Aktie der Klasse 7 -


26



NOTES TO THE FINANCIAL STATEMENTS

1. GENERAL

Universe, The CMI Global Network Fund, (the "Company’’) was incorporated as an investment fund in the Grand Duchy of Luxembourgon 12 April 1990 and commenced its activities on 1 June 1990. The articles of incorporation were amended for the last time by notarial deed of1 January 2015 published in the Memorial on 21 February 2015. The Company qualifies as an investment company with variable capital (’’Societed’Investissement a Capital Variable’’ or ‘‘SICAV’’) regulated under the part I of the Luxembourg law of 17 December 2010, as amended. TheCompany is established for an undetermined duration. The Company comprises 34 Sub-Funds as at 31 March 2016.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Statements are presented in accordance with Luxembourg regulations relating to investment funds.

The following is a summary of the significant accounting policies adopted by the Company:

(a) Valuation of Securities:

All securities in the investment portfolios are quoted on a recognised stock exchange, or dealt in on another regulated market. Short-term certificates of deposit and commercial papers, are valued at cost as it is intended to hold these instruments until maturity. Thedifference between the cost and the maturity value is recognized as interest income over the year. In the event of material changes inmarket conditions, the valuation basis of the investment is adjusted to market yields. In these financial statements, securities andfinancial derivative instruments have been valued using the closing prices on 31 March 2016 for securities listed in American continent’sstock exchanges, the prices at 1 p.m. (CET) on 31 March 2016 for securities listed in European stock exchanges and the closing priceson 31 March 2016 for securities listed in eastern countries’ stock exchanges.

It should be noted that the valuation of the investments based on the closing prices for all markets as at 31 March 2016, if used, wouldhave not been materially different.

(b) Translation of Foreign Currencies:

Transactions in foreign currencies are converted into the currency of the Sub-Fund at the exchange rate ruling at the date of thetransactions. Assets and liabilities are converted into the currency of the Sub-Fund at the exchange rate ruling at the balance sheet dateat 9.30 am (CET) for Asian and American markets or 12.30 pm (CET) for European markets.

The combined statements of net assets, operations and changes in net assets are presented in euro (EUR), based on the closingexchange rate prevailing at the balance sheet date.

(c) Cross-Investments:

As at 31 March 2016, the total of cross-Sub-Funds’ investments amounts to EUR 39,607,706 and therefore total combined NAV at year-end without cross-investments would amount to EUR 3,113,423,424.

(d) Allocation of Expenses:

Each Sub-Fund is charged with the expenses directly attributable to it. Expenses not attributable to a particular Sub-Fund are normallyallocated based on the net assets of the Sub-Funds.

(e) Income:

Dividends are recognised on an ex-dividend basis, net of withholding taxes in the country of origin. Interest is recognised on an accrualbasis, net of withholding taxes in the country of origin.

Securities lending income is recognised on a cash basis and recorded in the accounts under the heading "Other Income".

(f) Gain and Loss from Sales of Securities:

The realised gain and loss arising on sales of securities is based on the average cost of the securities.

(g) Equalisation:

The Company uses the accounting practice of equalisation, by which a portion of the proceeds from subscriptions and costs ofredemptions of shares, equivalent on a per share basis to the amount of undistributed net investment income on the date of thetransaction, is credited or charged to undistributed income. On payment of a dividend the balance on the equalisation account isincluded in the amount available for distribution. As a result, undistributed net investment income per share is unaffected bysubscriptions and redemptions of shares.


27

2. SIGNIFICANT ACCOUNTING POLICIES - continued

(h) Valuation of futures:

The valuation of futures admitted to an official listing or any other organised market is based on the last known price or, if the futures aretraded on more than one market, on the basis of the last known price in the market on which the contract was concluded by theCompany. Futures that are not listed or traded on a stock exchange or any other organised market will be valued at their probablerealisable value estimated conservatively and in good faith.

(i) Valuation of forward:

Unrealised appreciation (depreciation) resulting from outstanding forward foreign exchange contracts is determined on the valuationdate on the basis of the forward rates applicable on that date and is recorded in the Statement of Net Assets.

(j) Other charges:

For the period ended 31 March 2016, the amounts included under ‘‘Other charges’’ includes CSSF fees, distribution fees, regulatoryfees, transfer agency fees, paying agency fees, bundled fees, administrative, agency fees, directors fees, legal fees, other corporateexpenses and bank interests.

3. MANAGEMENT FEES

Lemanik Asset Management S.A., a societe anonyme and UCITS management company authorised in accordance with Chapter 15 of theamended law of 17 December 2010 on undertakings for collective investment (the "2010 Law"), having its registered office at 106, route d’Arlon,L-8210 Mamer, Grand Duchy of Luxembourg ("LAM") has been appointed as management company of the Company.

LAM is remunerated out of the management fees described in the current Prospectus of the Company.

The Company currently may issue five classes of Shares within each Sub-Fund. These classes are denominated class 1, class 2, class 3, class 7and class 8.

The sale of class 1 Shares is available to investors within each Sub-Fund (except for the CMIG Sub-Funds and for the CMI Managed Sub-Funds).The sale of class 2, class 3 and class 7 Shares is restricted to Institutional Investors such as financial institutions and professionals of the financialsector subscribing on their own behalf, insurance and reinsurance companies, social security institutions and pension funds, industrial financialgroups and the structures which they put in place to manage their funds ("Institutional Investors").

The sale of class 8 Shares is available to investors within the following Sub-Funds: CMI Continental European Equity, CMI UK Equity, CMI PacificBasin Enhanced Equity, CMI UK Bond, CMI Sterling Currency Reserve, Japan Equity Index Tracking, Euro Equity Index Tracking, UK Equity IndexTracking, US Equity Index Tracking.

Out of the management fees, the Company remunerates the Management Company LAM, the Investment Managers and the Administrative Agent(refer to note 4 for the detail of the administration fees).

The Management Company is responsible for the day to day management of the investments and is entitled to receive a fee, which is payablemonthly and is based on the daily net asset value of each Class of each Sub-Fund.

The Management Company LAM receives a management company fee and risk management fee as follow:- 0.03% p.a. per Sub-Fund until EUR 500 mio.- 0.02% p.a. per Sub-Fund from EUR 500 mio to EUR 1 bio.- 0.01% p.a. per Sub-Fund over EUR 1 bio.

The Investment Manager, Insight Investment Management (Global) Limited receives in remuneration of its service the following fees for the Sub-Funds under its management: 0.10% p.a. payable monthly and based on the daily net asset value of the Sub-Funds.

The Investment Manager, Aberdeen Asset Investments Limited receives a remuneration of its service for the Sub-Funds under its management.The amount of the remuneration is in accordance with the Agreement signed with Lloyds Banking Group ("LBG") on 31 March 2014 and iscalculated depending on the assets under management of the various LBG entities. As a result, the remuneration for the period was EUR486,654. The fees are payable monthly and based on the daily net asset value of the Sub-Funds.

The management company fees and investment managers fees are disclosed in the profit and loss accounts under the caption ‘‘Managementfees’’.

The Management fees paid by the Company are currently based upon the maximum annual rates set out in the table below.

Sub-Funds ShareClass 1

ShareClass 2

ShareClass 3

ShareClass 7

ShareClass 8

EQUITY SUB-FUNDSCMI CONTINENTAL EUROPEAN EQUITY 1.25% 0.33% 0.115% 0.15% 1.25%CMI UK EQUITY 1.25% 0.33% 0.115% 0.15% 1.25%


28

NOTES TO THE FINANCIAL STATEMENTS - continued

3. MANAGEMENT FEES - continued

Sub-Funds ShareClass 1

ShareClass 2

ShareClass 3

ShareClass 7

ShareClass 8

CMI GLOBAL EQUITY 1.25% 0.33% n/a n/a n/aCMI GLOBAL MIXED 1.25% 0.33% n/a n/a n/aCMI EUROPEAN ENHANCED EQUITY n/a n/a n/a 0.15% n/aCMI US ENHANCED EQUITY 0.75% 0.23% 0.115% 0.15% n/aCMI JAPAN ENHANCED EQUITY 0.75% 0.23% 0.115% 0.15% n/aCMI PACIFIC BASIN ENHANCED EQUITY 0.75% 0.23% 0.115% 0.15% 1.25%BOND SUB-FUNDSCMIG FOCUS EURO BOND n/a n/a 0.115% n/a n/aCMI EURO BOND 0.75% 0.23% 0.115% 0.15% n/aCMI GLOBAL BOND 1.25% 0.33% 0.115% n/a n/aCMI UK BOND 0.75% 0.23% 0.115% 0.15% 0.75%CMI US BOND 0.75% 0.23% 0.115% 0.15% n/aCASH SUB-FUNDSCMI EURO CURRENCY RESERVE 0.50% 0.18% 0.115% 0.15% n/aCMI STERLING CURRENCY RESERVE 0.50% 0.18% 0.115% n/a 0.50%CMI US DOLLAR CURRENCY RESERVE 0.50% 0.18% 0.115% 0.15% n/aEQUITY INDEX TRACKING SUB-FUNDSEURO EQUITY INDEX TRACKING 0.50% 0.18% 0.115% 0.15% 0.30%JAPAN EQUITY INDEX TRACKING 0.50% 0.18% 0.115% 0.15% 0.30%UK EQUITY INDEX TRACKING 0.50% 0.18% 0.115% 0.15% 0.30%US EQUITY INDEX TRACKING 0.50% 0.18% 0.115% 0.15% 0.30%GA FAMILY SUB-FUNDSHLE EURO-GARANT 80 FLEX 1.85% n/a n/a n/a n/aCMIG ACCESS 70% FLEXIBLE n/a n/a n/a 0.15% n/aCMIG ACCESS 80% FLEXIBLE n/a n/a n/a 0.15% n/aCMIG ACCESS 90% FLEXIBLE n/a n/a n/a 0.15% n/aCMIG ACCESS 80% n/a n/a n/a 0.15% n/aFUND OF FUNDSCMI STERLING CAUTIOUS MANAGED n/a 0.30% n/a n/a n/aCMI STERLING BALANCED MANAGED n/a 0.30% n/a n/a n/aCMI STERLING ADVENTUROUS MANAGED n/a 0.30% n/a n/a n/aCMI DOLLAR CAUTIOUS MANAGED n/a 0.30% n/a n/a n/aCMI DOLLAR BALANCED MANAGED n/a 0.30% n/a n/a n/aCMI DOLLAR ADVENTUROUS MANAGED n/a 0.30% n/a n/a n/aCMI EURO CAUTIOUS MANAGED n/a 0.30% n/a n/a n/aCMI EURO BALANCED MANAGED n/a 0.30% n/a n/a n/aCMI EURO ADVENTUROUS MANAGED n/a 0.30% n/a n/a n/a

4. THE CUSTODIAN AND ADMINISTRATION

The Custodian is responsible for the safekeeping of the Company’s assets. RBC Investor Services Bank S.A. is registered with the LuxembourgCompany Register (RCS) under number B-47192 and has been incorporated in 1994 under the name "First European Transfer Agent". It islicensed to carry out banking activities under the terms of the Luxembourg law of 5 April 1993 on the financial services sector and specialises incustody, fund administration and related services.

RBC Investor Services Bank S.A. is fully owned by RBC Investor Services Limited, a company under the laws of England and Wales that iscontrolled by Royal Bank of Canada, Toronto, Canada. In case of voluntary withdrawal of the Custodian or of its removal by the Company, theCustodian must be replaced within two months. In the meantime, the Custodian shall take all necessary steps for the good preservation of theShareholders’ interests.

The appointment of a new Custodian is subject to the approval of the "Commission de Surveillance du Secteur Financier".

RBC Investor Services Bank S.A. has been appointed as Administrative Agent and Transfer Agent by the Management Company to providetransfer agency and fund accounting services to the Company.

In accordance with Luxembourg law the custody of the Company’s assets are entrusted to the Custodian, RBC Investor Services Bank S.A., forsafekeeping. The Custodian must:

(a) ensure that the sale, issue, repurchase and cancellation of Shares effected by or on behalf of the Company are carried out in accordance withLuxembourg law and the Articles;(b) ensure that in transactions involving the Sub-Funds’ assets, any consideration is remitted to it within the usual time limits;(c) ensure that the Sub-Funds’ income is applied in accordance with Luxembourg law and the Articles.

In this respect the Custodian will receive a fee from the Company, which amounts to a maximum of 0.10% of the Net Asset Value. This custodianfee is included in the caption ‘‘Custodian fees’’ which also takes into account the administration fees, the transaction fees, VAT and compliancefees. In this case, the caption ‘‘Custodian fees’’ could represent more than 0.1% of the net asset value.


29


4. THE CUSTODIAN AND ADMINISTRATION - continued

The Company will pay a fee to RBC Investor Services for the administration and transfer agency functions in accordance with the agreementsigned between the parties and the prospectus.

5. TAXE D’ABONNEMENT

Under present Luxembourg law and practice, the Company is not liable to any Luxembourg income tax nor are dividends paid by the Companyliable to any Luxembourg withholding tax. The Company in respect of class 1 and class 8 Shares (excluding the Currency Reserve, the CMIG Sub-Funds and for the CMI Managed Sub-Funds) is liable in Luxembourg to a tax of 0.05% per annum of the value of its net assets, such tax beingpayable quarterly on the basis of the value of the net assets of the Company at the end of the relevant calendar quarter. In respect of class 2,class 3 and class 7 Shares, the CMIG Sub-Funds, the CMI Managed Sub-Funds and the three Currency Reserve Sub-Funds, the tax levied will be atthe rate of 0.01% per annum. No stamp duty or other tax is payable in Luxembourg on the issue of Shares except a once and for all initialregistration tax which was paid on incorporation. No Luxembourg capital gains tax is payable on the realised or unrealised capital appreciation ofthe assets of the Company.

The "taxe d’abonnement" is waived for that part of the Company invested in units of other undertakings for collective investment that have alreadypaid ‘‘taxe d’abonnement’’ in accordance with the statutory provisions of the Law.

6. DISTRIBUTIONS

The following dividend distributions were declared on 1 October 2015 in respect of the year from 1 October 2014 to 30 September 2015 andpaid on 15 October 2015.

CMI CONTINENTAL EUROPEAN EQUITY Share Class 1 EUR 0.470 CMI UK BOND Share Class 1 GBP 0.211CMI CONTINENTAL EUROPEAN EQUITY Share Class 2 EUR 0.685 CMI UK BOND Share Class 2 GBP 0.246CMI CONTINENTAL EUROPEAN EQUITY Share Class 3 EUR 0.733 CMI UK BOND Share Class 3 GBP 0.253CMI CONTINENTAL EUROPEAN EQUITY Share Class 7 EUR 0.753 CMI UK EQUITY INDEX TRACKING Share Class 1 GBP 0.499CMI EURO BOND Share Class 1 EUR 0.858 CMI UK EQUITY INDEX TRACKING Share Class 2 GBP 0.542CMI EURO BOND Share Class 2 EUR 1.069 CMI UK EQUITY INDEX TRACKING Share Class 3 GBP 0.550CMI EURO BOND Share Class 3 EUR 1.110 CMI UK EQUITY INDEX TRACKING Share Class 7 GBP 0.601CMI EURO BOND Share Class 7 EUR 1.200 CMI UK EQUITY Share Class 1 GBP 0.311CMI EURO CURRENCY RESERVE Share Class 1 EUR 0.248 CMI UK EQUITY Share Class 2 GBP 0.402CMI EURO CURRENCY RESERVE Share Class 2 EUR 0.308 CMI UK EQUITY Share Class 3 GBP 0.422CMI EURO CURRENCY RESERVE Share Class 3 EUR 0.320 CMI UK EQUITY Share Class 7 GBP 0.444CMI EURO CURRENCY RESERVE Share Class 7 EUR 0.329 CMI US BOND Share Class 1 USD 0.216CMI EURO EQUITY TRACKING Share Class 1 EUR 0.459 CMI US BOND Share Class 2 USD 0.274CMI EURO EQUITY TRACKING Share Class 2 EUR 0.516 CMI US BOND Share Class 3 USD 0.286CMI EURO EQUITY TRACKING Share Class 3 EUR 0.525 CMI US BOND Share Class 7 USD 0.482CMI EURO EQUITY TRACKING Share Class 7 EUR 0.490 CMI US DOLLAR CURRENCY RESERVE Share Class 1 USD 0.041CMI EUROPEAN ENHANCED EQUITY Share Class 7 EUR 0.670 CMI US DOLLAR CURRENCY RESERVE Share Class 2 USD 0.065CMI GLOBAL BOND Share Class 1 GBP 0.022 CMI US DOLLAR CURRENCY RESERVE Share Class 3 USD 0.070CMI GLOBAL BOND Share Class 2 GBP 0.033 CMI US DOLLAR CURRENCY RESERVE Share Class 7 USD 0.134CMI GLOBAL BOND Share Class 3 GBP 0.025 CMI US ENHANCED EQUITY Share Class 1 USD 0.798CMI GLOBAL EQUITY Share Class 1 GBP 0.041 CMI US ENHANCED EQUITY Share Class 2 USD 1.150CMI GLOBAL EQUITY Share Class 2 GBP 0.060 CMI US ENHANCED EQUITY Share Class 3 USD 1.220CMI GLOBAL MIXED Share Class 1 GBP 0.035 CMI US ENHANCED EQUITY Share Class 7 USD 1.214CMI GLOBAL MIXED Share Class 2 GBP 0.052 CMI US EQUITY INDEX TRACKING Share Class 1 USD 0.675CMI JAPAN ENHANCED EQUITY Share Class 1 JPY 48.430 CMI US EQUITY INDEX TRACKING Share Class 2 USD 0.838CMI JAPAN ENHANCED EQUITY Share Class 2 JPY 67.918 CMI US EQUITY INDEX TRACKING Share Class 3 USD 0.866CMI JAPAN ENHANCED EQUITY Share Class 3 JPY 71.684 CMI US EQUITY INDEX TRACKING Share Class 7 USD 0.877CMI JAPAN ENHANCED EQUITY Share Class 7 JPY 71.234 CMIG ACCESS 80% Share Class 7 EUR 0.098CMI JAPAN EQUITY INDEX TRACKING Share Class 1 JPY 9.664 CMIG FOCUS EURO BOND FUND Share Class 3 EUR 0.837

CMI JAPAN EQUITY INDEX TRACKING Share Class 2 JPY 11.857CMI EURO ADVENTUROUS MANAGED FUNDShare Class 2 EUR 0.215

CMI JAPAN EQUITY INDEX TRACKING Share Class 3 JPY 12.237 CMI EURO BALANCED MANAGED FUND Aktienklasse 2 EUR 0.237CMI PACIFIC BASIN ENHANCED EQUITY Share Class 1 USD 1.036 CMI EURO CAUTIOUS MANAGED FUND Aktienklasse 2 EUR 0.208CMI PACIFIC BASIN ENHANCED EQUITY Share Class 2 USD 1.234 CMI STERLING ADVENTUROUS MANAGED Share Class 2 GBP 0.269CMI PACIFIC BASIN ENHANCED EQUITY Share Class 3 USD 1.274 CMI STERLING BALANCED MANAGED Share Class 2 GBP 0.386CMI PACIFIC BASIN ENHANCED EQUITY Share Class 7 USD 1.317 CMI STERLING CAUTIOUS MANAGED Share Class 2 GBP 0.316CMI STERLING CURRENCY RESERVE Share Class 1 GBP 0.042 CMI DOLLAR ADVENTUROUS MANAGED Share Class 2 USD 0.278CMI STERLING CURRENCY RESERVE Share Class 2 GBP 0.053 CMI DOLLAR BALANCED MANAGED Share Class 2 USD 0.378CMI STERLING CURRENCY RESERVE Share Class 3 GBP 0.056 CMI DOLLAR CAUTIOUS MANAGED Share Class 2 USD 0.280


30


7. OTHER INCOME

7.1 Securities Lending

The Company has signed a contract for securities lending with Royal Trust Corporation of Canada who acts as securities lending agent.

As at period-end, the market value of the securities lent per Sub-Fund is as follows:

Sub-Fund CurrencyLent Assetsin Sub-Fundcurrency

CMI Continental European Equity EUR 41,427,094

CMI Japan Enhanced Equity JPY 700,915,192

CMI Pacific Basin EnhancedEquity USD 1,100,359

CMI US Enhanced Equity USD 393,687

CMI UK Equity GBP 548,959

Euro Equity Index Tracking EUR 754,888

Japan Equity Index Tracking JPY 81,636,316

UK Equity Index Tracking GBP 296,026

US Equity Index Tracking USD 5,658

CMI Euro Bond EUR 2,099,193

CMI UK Bond GBP 185,398

CMI US Bond USD -

CMI Sterling Currency Reserve GBP -

CMI Euro Currency Reserve EUR 4,383,021

CMI Global Bond GBP 442,905

CMI Global Mixed GBP 681,890

CMI Global Equity GBP 240,731

CMI European Enhanced Equity EUR 822,695

CMIG Focus Euro Bond EUR 245,832,276

CMIG Access 80% EUR -

CMIG Access 70% Flexible EUR 141,507

CMIG Access 80% Flexible EUR 21,149,733

CMIG Access 90% Flexible EUR -

HLE Euro-Garant 80 Flex EUR 41,524

The collateral is in the form of securities.The transaction revenue amounts are included under the heading "Other income" in the "Statement of Operations and Changes in Net Assets". ASub-Fund may have income on Securities Lending in the "Statement of Operations and Changes in Net Assets" even without securities lent at yearend.

8. RELATED PARTY TRANSACTIONS

There were no significant related party transactions during the period, other than the management fees (see note 3) and those reported in theseFinancial Statements and marked with a * in the portfolio of investments.

9. PURCHASE AND SALE OF SECURITIES

A listing of purchases and sales of securities for the period for each Sub-Fund is available upon request at the Company’s registered office andDeutsche Bank A.G., Alfred Herrhausen Allee 16-24, D - 65760 Eschborn Germany /Deutschland.

10. SOFT COMMISSIONS

No soft commission arrangements were entered into by the Management Company or the Investment Managers with brokers during the period.


31


11. FORWARD FOREIGN EXCHANGE CONTRACTS

As at 31 March 2016 the following forward foreign exchange contracts and the corresponding unrealised results are outstanding:

Purchases SalesMaturityDate

Unrealised(loss)

(in GBP)

CMI Universe - CMI UK BondGBP 824,341 EUR 1,050,000 07/06/2016 (7,498)

(7,498)


Unrealisedgain/(loss)

(in USD)

CMI Universe - CMI US BondAUD 2,607,000 USD 1,795,762 14/04/2016 205,140EUR 1,068,000 USD 1,181,141 14/04/2016 33,229USD 1,822,945 AUD 2,607,000 14/04/2016 (178,081)USD 1,164,976 EUR 1,068,000 14/04/2016 (49,379)USD 590,681 MXN 10,497,000 14/04/2016 (17,906)

(6,997)



(in GBP)

CMI Universe - CMI Global BondDKK 740,000 GBP 78,207 07/06/2016 488EUR 651,000 GBP 512,286 07/06/2016 3,465EUR 110,602 USD 122,105 07/06/2016 2,688GBP 133,975 AUD 261,000 07/06/2016 (5,046)GBP 139,139 MXN 3,543,000 07/06/2016 (3,114)GBP 19,857 DKK 188,000 07/06/2016 (135)GBP 262,829 USD 372,000 07/06/2016 4,070GBP 72,553 EUR 93,000 07/06/2016 (1,123)GBP 107,610 JPY 17,090,000 07/06/2016 1,617GBP 770,922 CAD 1,449,000 07/06/2016 (7,228)GBP 8,378 SEK 99,000 07/06/2016 (113)JPY 10,000,000 USD 88,176 07/06/2016 684JPY 31,166,000 GBP 199,422 07/06/2016 (6,136)USD 901,000 GBP 646,520 07/06/2016 (19,795)

(29,678)



(in EUR)

CMI Universe - CMIG Focus Euro BondEUR 629,384 USD 688,000 07/06/2016 25,372EUR 6,354,222 GBP 4,994,000 07/06/2016 50,722GBP 568,000 EUR 725,862 07/06/2016 (8,910)USD 688,000 EUR 621,927 07/06/2016 (17,865)

49,319


32


12. FUTURES

Commitments for financial futures contracts and the related net unrealised profit/(loss) recorded as at 31 March 2016 were as follows:

Sub-FundsNumber ofContracts Maturity Date

UnderlyingExposure

FundCurrency Notional Value

FuturesCurrency

UnrealisedGain/(Loss)

CMI Continental EuropeanEquity

415 17/06/2016 Long EURO STOXX 50PR

EUR 12,188,550 EUR (77,279)

CMI Japan Enhanced Equity 72 09/06/2016 Long TOPIX INDEX(TOKYO)

JPY 970,200,000 JPY (5,873,702)

CMI Pacific Basin EnhancedEquity

32 28/04/2016 Long HONG KONGHANG SENGINDICES

USD 33,289,600 HKD 73,567


13 16/06/2016 Long S&P / ASX 200INDEX

USD 1,646,125 AUD (15,476)

CMI US Enhanced Equity 25 17/06/2016 Long S&P 500 EMINIINDEX

USD 2,569,063 USD 99,523

CMI UK Equity 44 17/06/2016 Long FTSE 250 INDEX GBP 1,473,428 GBP 30,228CMI UK Equity 59 17/06/2016 Long UKX FTSE 100

INDEXGBP 3,610,505 GBP (7,894)

Euro Equity Index Tracking 10 17/06/2016 Long EURO STOXX 50PR

EUR 293,700 EUR (4,400)

Japan Equity Index Tracking 23 09/06/2016 Long MINI TOPIXTOKYO SE IDXJP

JPY 30,992,500 JPY (401,650)

UK Equity Index Tracking 4 17/06/2016 Long FTSE 250 INDEX GBP 133,948 GBP 2,748UK Equity Index Tracking 4 17/06/2016 Long UKX FTSE 100

INDEXGBP 244,780 GBP 1,660

US Equity Index Tracking 4 17/06/2016 Long S&P 500 EMINIINDEX

USD 411,050 USD 16,752

CMI European EnhancedEquity


EUR 822,360 EUR (2,113)

No collateral have been received in relation with the futures contracts. Related cash balances held as margin against the above positions areincluded in cash at bank.

13. CURRENCY RATES

The accounting for the Company as a whole is carried out in EUR.Exchange rates as at 31 March 2016 were:

1 EUR = 1.479982 AUD1 EUR = 1.472482 CAD1 EUR = 7.449472 DKK1 EUR = 0.790500 GBP1 EUR = 8.814224 HKD1 EUR = 127.719675 JPY1 EUR = 19.581395 MXN1 EUR = 9.240938 SEK1 EUR = 1.136700 USD


33


14. SWING PRICING

This methodology aims to protect investors in the funds from some of the performance dilution they may suffer as a result of significant inflowsand outflows in the fund.

Definition of the process

. The NAV of a Sub-Fund is swung or adjusted only when a predetermined net capital activity threshold (i.e. the swing threshold) is exceeded.

. If net subscriptions or redemptions exceed the swing threshold, a Sub-Fund is swung by a swinging factor.

. If net subscriptions are above the swing threshold, the NAV per share is swung up by the swing factor. Conversely, if net redemptions areabove the swing threshold, the NAV per share is swung down by the swing factor.

. The swing amounts are included under the captions "Subscriptions of shares" and "Redemptions of shares".

The swing threshold

The swinging threshold is the net capital flow, expressed in percentage terms of the NAV, required to trigger the NAV swing process when semi-swing pricing is employed. The swinging threshold for all the Sub-Funds is set at 5% for all Sub-Funds.

The swinging factors

The swing factor is the amount by which the NAV is swung when the swing pricing process is triggered after net subscriptions or redemptionsexceed the swing threshold. The factors to consider when setting the swinging factor include:

. Cost of trading/slippage

. Net broker commissions paid by the Sub-Fund

. Fiscal charges (e.g. stamp duty and sales tax)

. Exchange fees

Fund Name Swing factor rate

Japan Equity Index Tracking Sub-Fund 0.10%CMI Japan Enhanced Equity Sub-Fund 0.10%US Equity Index Tracking Sub-Fund 0.10%CMI US Enhanced Equity Sub-Fund 0.10%CMI Continental European Equity Sub-Fund 0.10%CMI Global Mixed Sub-Fund 0.10%CMI Pacific Basin Equity Sub-Fund 0.20%Euro Equity Index Tracking Sub-Fund 0.10%UK Equity Index Tracking Sub-Fund 0.10%CMI UK Equity Sub-Fund 0.10%CMI Global Equity Sub-Fund 0.10%CMIG Access 80% Sub-Fund 0.10%HLE Euro-Garant 80 Flex Sub-Fund 0.10%CMIG Access 70% Flexible Sub-Fund 0.10%CMIG Access 80% Flexible Sub-Fund 0.10%CMIG Access 90% Flexible Sub-Fund 0.10%

There is no swinging factor for the bond, cash and CMI Managed Sub-Funds.

15. GUARANTEED DEALING PRICE

- HLE Euro-Garant 80 Flex Sub-Fund. At any time, the dealing price at which investors may redeem their shares cannot fall below 80% of thehighest Net Asset Value per share achieved by the Sub-Fund since its launch.

16. DIRECTORS’ FEES

The aggregate annual directors’ fees per annum for 2016 are EUR 49,000.


34


ERLAUTERUNGEN ZUM HALBJAHRESBERICHT

1. ALLGEMEINES

Universe, The CMI Global Network Fund, SICAV (die "Gesellschaft") wurde am 12. April 1990 im Großherzogtum Luxemburg als Investmentfondsgegrundet und hat ihre Geschaftstatigkeit am 1. Juni 1990 aufgenommen. Die Satzung wurde zuletzt notariell geandert am 1. Januar 2015,publiziert im Memorial am 21. Februar 2015. Die Gesellschaft ist als Investmentgesellschaft mit variablem Grundkapital (’’Societed’Investissement a Capital Variable’’ oder ‘‘SICAV’’) registriert und unterliegt Teil 1 des Luxemburger Gesetzes vom 17. Dezember 2010 inder jeweils gultigen Fassung. Die Gesellschaft ist auf unbestimmte Dauer gegrundet. Sie umfasst 34 Teilfonds zum 31. Marz 2016.

2. BILANZIERUNGS- UND BEWERTUNGSGRUNDSATZE

Die Abschlusse werden in Ubereinstimmung mit den luxemburgischen Vorschriften fur Investmentfonds erstellt.

Im Folgenden werden die wichtigsten Bilanzierungs- und Bewertungsgrundsatze der Gesellschaft zusammengefasst:

(a) Bewertung von Wertpapieren:

Alle Wertpapiere des Wertpapierbestandes notieren an einer anerkannten Wertpapierborse oder werden an einem sonstigen geregeltenMarkt gehandelt. Finanzinstrumente, zu denen kurzfristige Einlagenzertifikate und Commercial Paper zahlen, werden zu denAnschaffungskosten angesetzt, da die Absicht besteht, diese Titel bis zur Falligkeit zu halten. Die Differenz zwischen denAnschaffungskosten und dem Falligkeitswert wird als Zinsertrag uber das Jahr erfasst. Im Falle von wesentlichen Anderungen derMarktbedingungen wird die Bewertungsgrundlage der Investitionen an Marktrenditen angepasst. In diesem Abschluss wurden inAmerika notierte Wertpapiere und Derivate mit den Schlusskursen vom 31. Marz 2016, in Europa notierte Wertpapiere mit den Kursenvon 13 Uhr (MEZ) am 31. Marz 2016 und in Asien notierte Wertpapiere mit den Schlusskursen vom 31. Marz 2016 bewertet.

Es ist anzumerken, dass die Bewertung der Anlagen auf der Grundlage der Schlusskurse fur alle Markte zum 31. Marz 2016 nichtwesentlich anders aus gefallen ware mit Ausnahme der folgenden Teilfonds:

(b) Devisenumrechnung:

Geschafte in Devisen werden in die Wahrung des Teilfonds zu dem Wechselkurs umgewandelt, der zum Datum der Transaktion gilt.Vermogenswerte und Verbindlichkeiten werden in die Wahrung des Teilfonds zu dem Wechselkurs umgewandelt, der am Bilanzstichtagfur asiatische und amerikanische Markte um 9.30 Uhr (MEZ) bzw. fur europaische Markte um 12.30 Uhr (MEZ) gilt.

Die zusammengefassten Aufstellungen des Nettovermogens, die Aufwands- und Ertragsrechnungen und die Entwicklungen desNettovermogens werden zum Schlusskurs am Bilanzstichtag geltenden Wechselkurs in Euro (EUR) ausgewiesen.

(c) Gegenseitige Anlagen:

Zum 31. Marz 2016 belaufen sich die gegenseitigen Anlagen der Teilfonds auf insgesamt EUR 39.607.706, daher wurde derkombinierte Gesamt-NIW am Jahresende ohne gegenseitige Anlagen EUR 3.113.423.424 betragen.

(d) Kostenverteilung:

Jedem Teilfonds werden die ihm unmittelbar zuzuweisenden Kosten belastet. Kosten, die keinem bestimmten Teilfonds zugewiesenwerden konnen, werden basierend auf den einzelnen Nettoteilfondsvermogen aufgetelt.

(e) Ertrage:

Dividenden werden auf Ex-Dividenden-Basis abzuglich der Quellensteuern des Ursprungslandes verbucht. Zinsen werden auf derGrundlage der periodengerechten Abgrenzung abzuglich der Quellensteuern des Ursprungslandes verbucht.

Die Ertrage aus Wertpapierleihgeschaften werden auf Barmittelbasis realisiert und unter der Uberschrift „Sonstige Ertrage‘‘ verbucht.

(f) Gewinne und Verluste aus Wertpapierverkaufen:

Die realisierten Gewinne und Verluste aus Wertpapierverkaufen werden auf Basis der durchschnittlichen Anschaffungskosten desjeweiligen Wertpapieres ermittelt.

(g) Ertragsausgleich:

Die Gesellschaft wendet die Bilanzierungspraxis des Ertragsausgleichs (equalisation) an, bei der ein dem anteiligen am Datum derTransaktion nicht ausgeschutteten und saldierten Kapitalertrag entsprechender Teil der Ertrage aus Zeichnungen und der Kosten ausRucknahmen von Aktien den nicht ausgeschutteten Ertragen gutgeschrieben bzw. belastet wird. Bei der Zahlung einer Dividende wirdder Saldo des Ausgleichskontos in den fur die Ausschuttung zur Verfugung stehenden Betrag aufgenommen. Auf diese Weise bleibt dernicht ausgeschuttete und saldierte Kapitalertrag je Aktie von Zeichnungen oder Rucknahmen von Aktien unberuhrt.


35

2. BILANZIERUNGS- UND BEWERTUNGSGRUNDSATZE - Fortsetzung

(h) Bewertung von Finanztermingeschaften:

Die Bewertung der zum offiziellen Handel oder an einem sonstigen organisierten Markt zugelassenen Futures erfolgt auf der Grundlagedes letzten bekannten Kurses und, falls das betreffende Finanztermingeschaft an mehreren Markten gehandelt wird, auf der Grundlagedes letzten bekannten Kurses auf dem Markt, an dem der entsprechende Kontrakt vom jeweiligen Teilfonds abgeschlossen wurde. Nichtnotierte oder nicht an einer Borse oder einem sonstigen organisierten Markt gehandelte Finanztermingeschafte werden auf derGrundlage des wahrscheinlichen Verkaufswertes bewertet, der nach bestem Wissen geschatzt wird.

(i) Bewertung von Termingeschaften:

Der nicht realisierte Gewinn (Verlust) aus ausstehenden Devisentermingeschaften wird am Bewertungstag auf der Grundlage der andiesem Tag geltenden Terminkurse ermittelt und in der Aufstellung des Nettovermogens ausgewiesen.

(j) Sonstige Aufwendungen:

Fur das Geschaftsjahr zum 31. Marz 2016 enthalten die Betrage unter „Sonstige Gebuhren‘‘ CSSF-Gebuhren, Vertriebsgebuhren,aufsichtsrechtliche Gebuhren, Transferstellengebuhren, Zahlstellengebuhren, gesammelte Gebuhren, Verwaltungsgebuhren,Verwaltungsstellengebuhren, Verwaltungsratsgebuhren, Rechtskosten, sonstige Unternehmensausgaben und Bankzinsen.

3. VERWALTUNGSGEBUHREN

Lemanik Asset Management S.A., eine societe anonyme und gemaß Kapitel 15 des Gesetzes vom 17. Dezember 2010 zu Organismen furgemeinsame Anlagen in der jeweils gultigen Fassung (das „Gesetz von 2010‘‘) zugelassene OGAW-Verwaltungsgesellschaft mit eingetragenemSitz in 106, route d’Arlon, L-8210 Mamer, Großherzogtum Luxemburg („LAM‘‘), wurde als Verwaltungsgesellschaft der Gesellschaft ernannt.

LAM wird aus den im aktuellen Prospekt der Gesellschaft beschriebenen Verwaltungsgebuhren vergutet.

Die Gesellschaft darf momentan funf Aktienklassen in jedem Teilfonds ausgeben. Diese Klassen sind mit Klasse 1, Klasse 2, Klasse 3, Klasse 7und Klasse 8 bezeichnet.

Der Verkauf von Anteilen der Klasse 1 ist fur Anleger aller Teilfonds (außer den CMIG-Teilfonds und den CMI Managed-Teilfonds) verfugbar. DerVertrieb von Aktien der Klassen 2, 3 und 7 ist auf institutionelle Anleger beschrankt, beispielsweise Finanzinstitute und im eigenen Auftragzeichnende Gewerbetreibende des Finanzsektors, Versicherungs- und Ruckversicherungsgesellschaften, Sozialversicherungseinrichtungen undPensionskassen, industrielle Finanzgruppen und die Strukturen, die sie zur Verwaltung ihrer liquiden Mittel einsetzen („institutionelle Anleger‘‘).

Der Verkauf von Anteilen der Klasse 8 steht Anlegern innerhalb der folgenden Teilfonds zur Verfugung: CMI Continental European Equity, CMI UKEquity, CMI Pacific Basin Enhanced Equity, CMI UK Bond, CMI Sterling Currency Reserve, Japan Equity Index Tracking, Euro Equity IndexTracking, UK Equity Index Tracking, US Equity Index Tracking.

Die Gesellschaft vergutet aus den Verwaltungsgebuhren die Verwaltungsgesellschaft LAM, die Anlageverwalter und die Verwaltungsstelle (sieheAnmerkung 4 fur ausfuhrliche Details zu den Verwaltungsgebuhren).

Die Verwaltungsgesellschaft ist verantwortlich fur die laufende Verwaltung der Anlagen und es steht ihr ein Honorar zu, das monatlich zu zahlen istund auf dem taglichen Nettoinventarwert der jeweiligen Klasse jedes Teilfonds basiert.

Die Verwaltungsgesellschaft LAM erhalt eine Verwaltungsgesellschaftsgebuhr und eine Risikomanagementgebuhr wie folgt:- 0,03 % p.a. pro Teilfonds bis EUR 500 Mio.- 0,02 % p.a. pro Teilfonds von EUR 500 Mio. bis EUR 1 Mrd.- 0,01 % p.a. pro Teilfonds uber EUR 1 Mrd.

Der Anlageverwalter, Insight Investment Management (Global) Limited, erhalt folgende Vergutung fur seine Dienstleistungen in Bezug auf die vonihm verwalteten Teilfonds: 0,10 % p. a., monatlich zahlbar und basierend auf dem taglichen Nettoinventarwert der Teilfonds.

Der Anlageverwalter, Aberdeen Asset Investments Limited, erhalt eine Vergutung fur seine Dienstleistungen in Bezug auf die von ihm verwaltetenTeilfonds. Die Hohe der Vergutung entspricht dem mit der Lloyds Banking Group ("LBG") am 31. Marz 2014 unterzeichneten Vertrag und wirdabhangig von den verwalteten Vermogenswerten der verschiedenen LBG-Korperschaften berechnet. Daraufhin betrug die Vergutung EUR486.654 fur die Berichtsperiode. Die Gebuhren sind monatlich zahlbar und basieren auf dem taglichen Nettoinventarwert der Teilfonds.

Die Gebuhren fur die Verwaltungsgesellschaft und die Anlageverwalter werden in der Gewinn- und Verlustrechnung unter der Uberschrift„Verwaltungsgebuhren‘‘ aufgefuhrt.

Die von der Gesellschaft gezahlten Verwaltungsgebuhren basieren derzeit auf den maximalen jahrlichen Raten, die in der Tabelle unten dargelegtsind.

Teilfonds Aktien-klasse 1

Aktien-klasse 2

Aktien-klasse 3

Aktien-klasse 7

Aktien-klasse 8

AKTIEN-TEILFONDSCMI CONTINENTAL EUROPEAN EQUITY 1,25% 0,33% 0,115% 0,15% 1,25%CMI UK EQUITY 1,25% 0,33% 0,115% 0,15% 1,25%


36

ERLAUTERUNGEN ZUM HALBJAHRESBERICHT - Fortsetzung

3. VERWALTUNGSGEBUHREN - Fortsetzung

Teilfonds Aktien-klasse 1

Aktien-klasse 2

Aktien-klasse 3

Aktien-klasse 7

Aktien-klasse 8

CMI GLOBAL EQUITY 1,25% 0,33% n/a n/a n/aCMI GLOBAL MIXED 1,25% 0,33% n/a n/a n/aCMI EUROPEAN ENHANCED EQUITY n/a n/a n/a 0,15% n/aCMI US ENHANCED EQUITY 0,75% 0,23% 0,115% 0,15% n/aCMI JAPAN ENHANCED EQUITY 0,75% 0,23% 0,115% 0,15% n/aCMI PACIFIC BASIN ENHANCED EQUITY 0,75% 0,23% 0,115% 0,15% 1,25%RENTEN TEILFONDSCMIG FOCUS EURO BOND n/a n/a 0,115% n/a n/aCMI EURO BOND 0,75% 0,23% 0,115% 0,15% n/aCMI GLOBAL BOND 1,25% 0,33% 0,115% n/a n/aCMI UK BOND 0,75% 0,23% 0,115% 0,15% 0,75%CMI US BOND 0,75% 0,23% 0,115% 0,15% n/aCASH-TEILFONDSCMI EURO CURRENCY RESERVE 0,50% 0,18% 0,115% 0,15% n/aCMI STERLING CURRENCY RESERVE 0,50% 0,18% 0,115% n/a 0,50%CMI US DOLLAR CURRENCY RESERVE 0,50% 0,18% 0,115% 0,15% n/aEQUITY INDEX TRACKING-TEILFONDSEURO EQUITY INDEX TRACKING 0,50% 0,18% 0,115% 0,15% 0,30%JAPAN EQUITY INDEX TRACKING 0,50% 0,18% 0,115% 0,15% 0,30%UK EQUITY INDEX TRACKING 0,50% 0,18% 0,115% 0,15% 0,30%US EQUITY INDEX TRACKING 0,50% 0,18% 0,115% 0,15% 0,30%GA-TEILFONDSHLE EURO-GARANT 80 FLEX 1,85% n/a n/a n/a n/aCMIG ACCESS 70% FLEXIBLE n/a n/a n/a 0,15% n/aCMIG ACCESS 80% FLEXIBLE n/a n/a n/a 0,15% n/aCMIG ACCESS 90% FLEXIBLE n/a n/a n/a 0,15% n/aCMIG ACCESS 80% n/a n/a n/a 0,15% n/aDACHFONDSCMI STERLING CAUTIOUS MANAGED n/a 0,30% n/a n/a n/aCMI STERLING BALANCED MANAGED n/a 0,30% n/a n/a n/aCMI STERLING ADVENTUROUS MANAGED n/a 0,30% n/a n/a n/aCMI DOLLAR CAUTIOUS MANAGED n/a 0,30% n/a n/a n/aCMI DOLLAR BALANCED MANAGED n/a 0,30% n/a n/a n/aCMI DOLLAR ADVENTUROUS MANAGED n/a 0,30% n/a n/a n/aCMI EURO CAUTIOUS MANAGED n/a 0,30% n/a n/a n/aCMI EURO BALANCED MANAGED n/a 0,30% n/a n/a n/aCMI EURO ADVENTUROUS MANAGED n/a 0,30% n/a n/a n/a

4. DIE DEPOTBANK UND DIE VERWALTUNG

Die Depotbank ist fur die sichere Verwahrung der Anlagen der Gesellschaft verantwortlich. RBC Investor Services Bank S.A. ist imluxemburgischen Handelsregister (RCS) unter der Nummer B-47192 eingetragen und wurde 1994 unter dem Namen "First European TransferAgent" gegrundet. Sie ist gemaß dem luxemburgischen Gesetz vom 5. April 1993 uber den Finanzdienstleistungssektor zur Fuhrung vonBankgeschaften zugelassen und auf Depotbank-, Fondsverwaltungs- und sonstige damit zusammenhangende Leistungen spezialisiert.

RBC Investor Services Bank S.A. ist eine hundertprozentige Tochtergesellschaft der RBC Investor Services Limited, einer nach dem Recht vonEngland und Wales konstituierten Gesellschaft, die von der Royal Bank of Canada, Toronto, Kanada, beherrscht wird. Wenn die Depotbankfreiwillig zurucktritt oder von der Gesellschaft entlassen wird, muss innerhalb von zwei Monaten eine neue Depotbank bestellt werden. In derZwischenzeit hat die Depotbank alle erforderlichen Maßnahmen zur Wahrung der Interessen der Aktionare zu ergreifen.

Die Bestellung einer neuen Depotbank unterliegt der Zustimmung der "Commission de Surveillance du Secteur Financier".

RBC Investor Services Bank S.A. wurde von der Verwaltungsgesellschaft zur Verwaltungs- und Transferstelle bestellt, um fur die GesellschaftTransferstellen- und Fondsabrechnungsleistungen zu erbringen.

Nach luxemburgischem Recht wurde die Depotbank, RBC Investor Services Bank S.A., mit der sicheren Verwahrung der Anlagen der Gesellschaftbetraut. Die Depotbank hat Folgendes zu tun:

(a) sicherzustellen, dass der Verkauf, die Emission, die Rucknahme und die Streichung von Aktien durch oder fur die Gesellschaft gemaß demRecht Luxemburgs und der Satzung erfolgen;(b) sicherzustellen, dass bei Geschaften uber die Anlagen der Teilfonds jegliche Gegenleistung innerhalb der ublichen Fristen erbracht wird;(c) sicherzustellen, dass die Ertrage der Teilfonds gemaß dem Recht Luxemburgs und der Satzung verwendet werden;

Dafur erhalt die Depotbank von der Gesellschaft eine Gebuhr in Hohe von bis zu 0,10% des Nettoinventarwerts. Diese Depotbankgebuhr ist imPosten „Depotbankgebuhren‘‘ enthalten, der zudem Verwaltungsgebuhren, Transaktionsgebuhren, Mehrwertsteuer und Compliance-Gebuhrenumfasst. In diesem Fall kann der Wert des Postens „Depotbankgebuhren‘‘ mehr als 0,1% des Nettoinventarwerts ausmachen.


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4. DIE DEPOTBANK UND DIE VERWALTUNG - Fortsetzung

Die Gesellschaft zahlt eine Gebuhr an RBC Investor Services fur die Verwaltungs- und Transferstellenfunktionen gemaß dem zwischen denParteien unterzeichneten Vertrag und dem Prospekt.

5. STEUERN

Gemaß dem derzeit geltenden Luxemburger Recht und den derzeitigen Rechtsgepflogenheiten unterliegt die Gesellschaft in Luxemburg keinenErtragssteuern und die von der Gesellschaft ausgeschutteten Dividenden unterliegen keiner Quellensteuer. Die Aktien der Klasse 1 und Klasse 8der Gesellschaft (mit Ausnahme der Currency Reserve-, CMIG- und CMI Managed-Teilfonds) unterliegen in Luxemburg einer Steuer in Hohe von0,05% p.a. des Wertes des Nettovermogens, die vierteljahrlich auf der Grundlage des Wertes des Nettovermogens der Gesellschaft zum Endedes jeweiligen Kalenderquartals zahlbar ist. Fur Aktien der Klasse 2, Klasse 3 und Klasse 7 der CMIG-Teilfonds, der CMI Managed-Teilfonds undder drei Currency Reserve-Teilfonds wird eine Steuer in Hohe von 0,01% p.a. erhoben. Bei der Emission der Aktien fallen in Luxemburg mitAusnahme einer einmaligen Registersteuer, die bei der Eintragung ins Handelsregister entrichtet wurde, keine Stempelsteuer oder sonstigenSteuern an. Es werden keine Kapitalertragsteuern auf die realisierte oder nicht realisierte Wertsteigerung des Vermogens der Gesellschafterhoben.

Die „taxe d’abonnement‘‘ wird fur den Teil der Gesellschaft erlassen, der in Anteile anderer Organismen fur gemeinsame Anlagen investiert ist, diebereits die „taxe d’abonnement‘‘ gemaß den gesetzlichen Vorgaben gezahlt haben.

6. AUSSCHUTTUNGEN

Die folgenden Dividendenausschuttungen wurden am 1. Oktober 2015 bezuglich des Geschaftsjahres vom 1. Oktober 2014 biszum 30. September 2015 erklart und am 15. Oktober 2015 gezahlt.

CMI CONTINENTAL EUROPEAN EQUITY Aktienklasse 1 EUR 0,470 CMI UK BOND Aktienklasse 1 GBP 0,211CMI CONTINENTAL EUROPEAN EQUITY Aktienklasse 2 EUR 0,685 CMI UK BOND Aktienklasse 2 GBP 0,246CMI CONTINENTAL EUROPEAN EQUITY Aktienklasse 3 EUR 0,733 CMI UK BOND Aktienklasse 3 GBP 0,253CMI CONTINENTAL EUROPEAN EQUITY Aktienklasse 7 EUR 0,753 CMI UK EQUITY INDEX TRACKING Aktienklasse 1 GBP 0,499CMI EURO BOND Aktienklasse 1 EUR 0,858 CMI UK EQUITY INDEX TRACKING Aktienklasse 2 GBP 0,542CMI EURO BOND Aktienklasse 2 EUR 1,069 CMI UK EQUITY INDEX TRACKING Aktienklasse 3 GBP 0,550CMI EURO BOND Aktienklasse 3 EUR 1,110 CMI UK EQUITY INDEX TRACKING Aktienklasse 7 GBP 0,601CMI EURO BOND Aktienklasse 7 EUR 1,200 CMI UK EQUITY Aktienklasse 1 GBP 0,311CMI EURO CURRENCY RESERVE Aktienklasse 1 EUR 0,248 CMI UK EQUITY Aktienklasse 2 GBP 0,402CMI EURO CURRENCY RESERVE Aktienklasse 2 EUR 0,308 CMI UK EQUITY Aktienklasse 3 GBP 0,422CMI EURO CURRENCY RESERVE Aktienklasse 3 EUR 0,320 CMI UK EQUITY Aktienklasse 7 GBP 0,444CMI EURO CURRENCY RESERVE Aktienklasse 7 EUR 0,329 CMI US BOND Aktienklasse 1 USD 0,216CMI EURO EQUITY TRACKING Aktienklasse 1 EUR 0,459 CMI US BOND Aktienklasse 2 USD 0,274CMI EURO EQUITY TRACKING Aktienklasse 2 EUR 0,516 CMI US BOND Aktienklasse 3 USD 0,286CMI EURO EQUITY TRACKING Aktienklasse 3 EUR 0,525 CMI US BOND Aktienklasse 7 USD 0,482CMI EURO EQUITY TRACKING Aktienklasse 7 EUR 0,490 CMI US DOLLAR CURRENCY RESERVE Aktienklasse 1 USD 0,041CMI EUROPEAN ENHANCED EQUITY Aktienklasse 7 EUR 0,670 CMI US DOLLAR CURRENCY RESERVE Aktienklasse 2 USD 0,065CMI GLOBAL BOND Aktienklasse 1 GBP 0,022 CMI US DOLLAR CURRENCY RESERVE Aktienklasse 3 USD 0,070CMI GLOBAL BOND Aktienklasse 2 GBP 0,033 CMI US DOLLAR CURRENCY RESERVE Aktienklasse 7 USD 0,134CMI GLOBAL BOND Aktienklasse 3 GBP 0,025 CMI US ENHANCED EQUITY Aktienklasse 1 USD 0,798CMI GLOBAL EQUITY Aktienklasse 1 GBP 0,041 CMI US ENHANCED EQUITY Aktienklasse 2 USD 1,150CMI GLOBAL EQUITY Aktienklasse 2 GBP 0,060 CMI US ENHANCED EQUITY Aktienklasse 3 USD 1,220CMI GLOBAL MIXED Aktienklasse 1 GBP 0,035 CMI US ENHANCED EQUITY Aktienklasse 7 USD 1,214CMI GLOBAL MIXED Aktienklasse 2 GBP 0,052 CMI US EQUITY INDEX TRACKING Aktienklasse 1 USD 0,675CMI JAPAN ENHANCED EQUITY Aktienklasse 1 JPY 48,430 CMI US EQUITY INDEX TRACKING Aktienklasse 2 USD 0,838CMI JAPAN ENHANCED EQUITY Aktienklasse 2 JPY 67,918 CMI US EQUITY INDEX TRACKING Aktienklasse 3 USD 0,866CMI JAPAN ENHANCED EQUITY Aktienklasse 3 JPY 71,684 CMI US EQUITY INDEX TRACKING Aktienklasse 7 USD 0,877CMI JAPAN ENHANCED EQUITY Aktienklasse 7 JPY 71,234 CMIG ACCESS 80% Aktienklasse 7 EUR 0,098CMI JAPAN EQUITY INDEX TRACKING Aktienklasse 1 JPY 9,664 CMIG FOCUS EURO BOND FUND Aktienklasse 3 EUR 0,837

CMI JAPAN EQUITY INDEX TRACKING Aktienklasse 2 JPY 11,857CMI EURO ADVENTUROUS MANAGED FUNDAktienklasse 2 EUR 0,215

CMI JAPAN EQUITY INDEX TRACKING Aktienklasse 3 JPY 12,237 CMI EURO BALANCED MANAGED FUND Aktienklasse 2 EUR 0,237CMI PACIFIC BASIN ENHANCED EQUITY Aktienklasse 1 USD 1,036 CMI EURO CAUTIOUS MANAGED FUND Aktienklasse 2 EUR 0,208CMI PACIFIC BASIN ENHANCED EQUITY Aktienklasse 2 USD 1,234 CMI STERLING ADVENTUROUS MANAGED Aktienklasse 2 GBP 0,269CMI PACIFIC BASIN ENHANCED EQUITY Aktienklasse 3 USD 1,274 CMI STERLING BALANCED MANAGED Aktienklasse 2 GBP 0,386CMI PACIFIC BASIN ENHANCED EQUITY Aktienklasse 7 USD 1,317 CMI STERLING CAUTIOUS MANAGED Aktienklasse 2 GBP 0,316


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6. AUSSCHUTTUNGEN - Fortsetzung

CMI STERLING CURRENCY RESERVE Aktienklasse 1 GBP 0,042 CMI DOLLAR ADVENTUROUS MANAGED Aktienklasse 2 USD 0,278CMI STERLING CURRENCY RESERVE Aktienklasse 2 GBP 0,053 CMI DOLLAR BALANCED MANAGED Aktienklasse 2 USD 0,378CMI STERLING CURRENCY RESERVE Aktienklasse 3 GBP 0,056 CMI DOLLAR CAUTIOUS MANAGED Aktienklasse 2 USD 0,280

7. SONSTIGE ERTRAGE

7.1 Wertpapierleihe

Die Gesellschaft hat einen Wertpapierleihevertrag mit Royal Trust Corporation of Canada abgeschlossen, die als Wertpapierleihstelle fungiert.

Zum Halbjahr ist der Marktwert der ausgeliehenen Wertpapiere pro Teilfonds wie folgt:

TeilfondsFonds-wahrung

AusgelieheneVermogen-swerte

in TeilfondsFondswahrung

CMI Continental European Equity EUR 41.427.094

CMI Japan Enhanced Equity JPY 700.915.192

CMI Pacific Basin EnhancedEquity USD 1.100.359

CMI US Enhanced Equity USD 393.687

CMI UK Equity GBP 548.959

Euro Equity Index Tracking EUR 754.888

Japan Equity Index Tracking JPY 81.636.316

UK Equity Index Tracking GBP 296.026

US Equity Index Tracking USD 5.658

CMI Euro Bond EUR 2.099.193

CMI UK Bond GBP 185.398

CMI US Bond USD -

CMI Sterling Currency Reserve GBP -

CMI Euro Currency Reserve EUR 4.383.021

CMI Global Bond GBP 442.905

CMI Global Mixed GBP 681.890

CMI Global Equity GBP 240.731

CMI European Enhanced Equity EUR 822.695

CMIG Focus Euro Bond EUR 245.832.276

CMIG Access 80% EUR -

CMIG Access 70% Flexible EUR 141.507

CMIG Access 80% Flexible EUR 21.149.733

CMIG Access 90% Flexible EUR -

HLE Euro-Garant 80 Flex EUR 41.524

Sicherheiten werden in Form von Wertpapieren hinterlegt.Die Ertrage aus Transaktionen sind unter „Sonstige Ertrage‘‘ im Abschnitt „Aufwands- und Ertragsrechnung und Veranderung desNettovermogens‘‘ angegeben. Ein Teilfonds kann in der „Aufwands- und Ertragsrechnung und Entwicklung des Nettovermogens‘‘ selbst dannErtrage aus Wertpapierleihgeschaften aufweisen, wenn zum Jahresende keine Wertpapierleihgeschafte bestehen.

8. GESCHAFTE MIT NAHE STEHENDEN PERSONEN BZW. UNTERNEHMEN

Wahrend des Jahres sind keine erheblichen Transaktionen mit nahe stehenden Personen bzw. Unternehmen erfolgt mit Ausnahme derer, die indiesem Jahresabschluss dargelegt und im Wertpapierbestand mit einem * gekennzeichnet sind. Siehe Anmerkung 3.

9. AN- UND VERKAUFE VON WERTPAPIEREN

Eine Auflistung der An- & Verkaufe der Berichtsperiode fur jeden Teilfonds ist auf Anfrage am eingetragenen Sitz der Gesellschaft oder uber dieDeutsche Bank A.G., Alfred Herrhausen Allee 16-24, D - 65760 Eschborn Germany /Deutschland.


39


10. AUSGLEICHSPROVISIONEN

Weder die Verwaltungsgesellschaft noch die Anlagaverwalter haben wahrend der Berichtsperiode Ausgleichsprovisionsvereinbarungen mitBrokern abgeschlossen.

11. DEVISENTERMINGESCHAFTE

Zum 31. Marz 2016 stehen die folgenden Devisentermingeschafte und die entsprechenden nicht realisierten Ergebnisse aus:

Kauf Verkauf Falligkeitstag

Nicht realisierter(Verlust)(in GBP)

CMI Universe - CMI UK BondGBP 824.341 EUR 1.050.000 07/06/2016 (7.498)

(7.498)


Nicht realisierterGewinn/(Verlust)

(in USD)

CMI Universe - CMI US BondAUD 2.607.000 USD 1.795.762 14/04/2016 205.140EUR 1.068.000 USD 1.181.141 14/04/2016 33.229USD 1.822.945 AUD 2.607.000 14/04/2016 (178.081)USD 1.164.976 EUR 1.068.000 14/04/2016 (49.379)USD 590.681 MXN 10.497.000 14/04/2016 (17.906)

(6.997)



(in GBP)

CMI Universe - CMI Global BondDKK 740.000 GBP 78.207 07/06/2016 488EUR 651.000 GBP 512.286 07/06/2016 3.465EUR 110.602 USD 122.105 07/06/2016 2.688GBP 133.975 AUD 261.000 07/06/2016 (5.046)GBP 139.139 MXN 3.543.000 07/06/2016 (3.114)GBP 19.857 DKK 188.000 07/06/2016 (135)GBP 262.829 USD 372.000 07/06/2016 4.070GBP 72.553 EUR 93.000 07/06/2016 (1.123)GBP 107.610 JPY 17.090.000 07/06/2016 1.617GBP 770.922 CAD 1.449.000 07/06/2016 (7.228)GBP 8.378 SEK 99.000 07/06/2016 (113)JPY 10.000.000 USD 88.176 07/06/2016 684JPY 31.166.000 GBP 199.422 07/06/2016 (6.136)USD 901.000 GBP 646.520 07/06/2016 (19.795)

(29.678)



(in EUR)

CMI Universe - CMIG Focus Euro BondEUR 629.384 USD 688.000 07/06/2016 25.372EUR 6.354.222 GBP 4.994.000 07/06/2016 50.722GBP 568.000 EUR 725.862 07/06/2016 (8.910)USD 688.000 EUR 621.927 07/06/2016 (17.865)

49.319


40


12. FINANZTERMINGESCHAFTE

Die Finanztermingeschafte und die damit verbundenen nicht realisierten Netto Gewinne/(Netto Verluste) stellen sich am 31. Marz 2016folgendermaßen dar:

TeilfondsAnzahl derKontrakte Falligkeit

Zugrun-delie-gendesEngage-ment Beschreibung

Fondswah-rung Nominalwert

Finanz-termin-

geschafts-wahrung

Nichtrealisierter

Gewinn/(Verlust)

CMI Continental EuropeanEquity


EUR 12.188.550 EUR (77.279)

CMI Japan Enhanced Equity 72 09/06/2016 Long TOPIX INDEX(TOKYO)

JPY 970.200.000 JPY (5.873.702)


32 28/04/2016 Long HONG KONGHANG SENGINDICES

USD 33.289.600 HKD 73.567


13 16/06/2016 Long S&P / ASX 200INDEX

USD 1.646.125 AUD (15.476)

CMI US Enhanced Equity 25 17/06/2016 Long S&P 500 EMINIINDEX

USD 2.569.063 USD 99.523

CMI UK Equity 44 17/06/2016 Long FTSE 250 INDEX GBP 1.473.428 GBP 30.228CMI UK Equity 59 17/06/2016 Long UKX FTSE 100

INDEXGBP 3.610.505 GBP (7.894)

Euro Equity Index Tracking 10 17/06/2016 Long EURO STOXX 50PR

EUR 293.700 EUR (4.400)

Japan Equity Index Tracking 23 09/06/2016 Long MINI TOPIXTOKYO SE IDXJP

JPY 30.992.500 JPY (401.650)

UK Equity Index Tracking 4 17/06/2016 Long FTSE 250 INDEX GBP 133.948 GBP 2.748UK Equity Index Tracking 4 17/06/2016 Long UKX FTSE 100

INDEXGBP 244.780 GBP 1.660

US Equity Index Tracking 4 17/06/2016 Long S&P 500 EMINIINDEX

USD 411.050 USD 16.752

CMI European EnhancedEquity


EUR 822.360 EUR (2.113)

Es wurden keine Sicherheiten in Verbindung mit den Finanztermingeschaften hinterlegt. Zugehorige Kassensalden, die als Marge bezuglich deroben genannten Positionen gehalten werden, sind im Bankguthaben enthalten.

13. UMRECHNUNGSKURSE

Die Buchhaltung der Gesellschaft erfolgt in EUR.

Die Umrechnungskurse zum 31. Marz 2016 waren:

1 EUR = 1,479982 AUD1 EUR = 1,472482 CAD1 EUR = 7,449472 DKK1 EUR = 0,790500 GBP1 EUR = 8,814224 HKD1 EUR = 127,719675JPY1 EUR = 19,581395 MXN1 EUR = 9,240938 SEK1 EUR = 1,136700 USD


41


14. SWING PRICING

Diese Methode zielt darauf ab, Anleger des Fonds vor einem Teil der Performance-Verwasserung zu schutzen, die durch starke Zuflusse in undAbflusse aus dem Fonds entstehen kann.

Definition des Prozesses

. Der NIW eines Teilfonds wird nur dann per Swing Pricing bereinigt oder bzw. angepasst, wenn ein vorab festgelegter Schwellenwert fur dieNettokapitalbewegungen (d. h. der Swing-Schwellenwert) uberschritten wird.

. Wenn Nettozeichnungen oder -rucknahmen den Swing-Schwellenwert uberschreiten, wird ein Teilfonds durch einen Swing-Faktor angepasst.

. Wenn die Nettozeichnungen uber dem Swing-Schwellenwert liegen, wird der NIW pro Anteil um den Swing-Faktor nach oben angepasst. Wenndie Nettorucknahmen uber dem Swing-Schwellenwert liegen, wird der NIW pro Anteil um den Swing-Faktor nach unten angepasst.

. Die Swing Pricing-Betrage sind in den Rubriken „Zeichnungen von Aktien‘‘ und „Rucknahmen von Aktien‘‘ enthalten.

Der Swing-Schwellenwert

Der Swing-Schwellenwert ist der Nettokapitalfluss, ausgedruckt in Prozent des NIW, der erforderlich ist, um den NIW-Swing-Prozess auszulosen,wenn die Semi-Swing-Pricing-Methode angewendet wird. Der Swing-Schwellenwert fur alle Teilfonds ist auf 5 % festgelegt.

Die Swing-Faktoren

Der Swing-Faktor ist der Betrag, um den der Nettoinventarwert nach oben oder unten angepasst wird, wenn der Swing-Pricing-Prozess ausgelostwird, nachdem die Nettozeichnungen oder Nettorucknahmen den Swing-Schwellenwert uberschritten haben. Folgende Faktoren sind beimFestlegen des Swing-Faktors zu berucksichtigen:

. Handelskosten/Abweichungen

. Vom Teilfonds gezahlte Nettoprovisionen fur Makler

. Steuern (z. B. Stempelsteuer und Umsatzsteuer)

. Umtauschgebuhren

Fondsname Swing-Faktor-Kurs

Japan Equity Index Tracking Teilfonds 0,10%CMI Japan Enhanced Equity Teilfonds 0,10%US Equity Index Tracking Teilfonds 0,10%CMI US Enhanced Equity Teilfonds 0,10%CMI Continental European Equity Teilfonds 0,10%CMI Global Mixed Teilfonds 0,10%CMI Pacific Basin Equity Teilfonds 0,20%Euro Equity Index Tracking Teilfonds 0,10%UK Equity Index Tracking Teilfonds 0,10%CMI UK Equity Teilfonds 0,10%CMI Global Equity Teilfonds 0,10%CMIG Access 80% Teilfonds 0,10%HLE Euro-Garant 80 Flex Teilfonds 0,10%CMIG Access 70% Flexible Teilfonds 0,10%CMIG Access 80% Flexible Teilfonds 0,10%CMIG Access 90% Flexible Teilfonds 0,10%

Es gibt keinen Swing-Faktor fur die Renten-, Cash- und CMI Managed-Teilfonds.

15. GARANTIERTER HANDELSPREIS

- HLE Euro-Garant 80 Flex-Teilfonds. Der Handelspreis, zu dem die Anleger ihre Aktien zuruckgeben konnen, kann zu keinem Zeitpunkt unter 80%des hochsten Nettoinventarwerts je Aktie absinken, den der Teilfonds seit seiner Auflegung erreicht hat.

16. VERWALTUNGSRATSVERGUTUNG

Die gesamte jahrliche Gebuhr pro Jahr fur 2016 betragt EUR 49.000.


42


Portfolio and sector analysis of each Sub-FundWertpapierbestand und Sektorenaufschlusselung fur die einzelnen Teilfonds

CONTENTSINHALTSVERZEICHNIS

Page - Seite

CMI CONTINENTAL EUROPEAN EQUITYPortfolio of investments - Wertpapierbestand 45Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 49

CMI JAPAN ENHANCED EQUITYPortfolio of investments - Wertpapierbestand 50Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 53

CMI PACIFIC BASIN ENHANCED EQUITYPortfolio of investments - Wertpapierbestand 54Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 61

CMI US ENHANCED EQUITYPortfolio of investments - Wertpapierbestand 62Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 66

CMI UK EQUITYPortfolio of investments - Wertpapierbestand 67Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 71

EURO EQUITY INDEX TRACKINGPortfolio of investments - Wertpapierbestand 72Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 73

JAPAN EQUITY INDEX TRACKINGPortfolio of investments - Wertpapierbestand 74Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 78

UK EQUITY INDEX TRACKINGPortfolio of investments - Wertpapierbestand 79Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 87

US EQUITY INDEX TRACKINGPortfolio of investments - Wertpapierbestand 88Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 94

CMI EURO BONDPortfolio of investments - Wertpapierbestand 95Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 97

CMI UK BONDPortfolio of investments - Wertpapierbestand 98Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 99

CMI US BONDPortfolio of investments - Wertpapierbestand 100Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 101

CMI STERLING CURRENCY RESERVEPortfolio of investments - Wertpapierbestand 102Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 104

CMI US DOLLAR CURRENCY RESERVEPortfolio of investments - Wertpapierbestand 105Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 107


Page - Seite

CMI EURO CURRENCY RESERVEPortfolio of investments - Wertpapierbestand 108Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 110

CMI GLOBAL BONDPortfolio of investments - Wertpapierbestand 111Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 113

CMI GLOBAL MIXEDPortfolio of investments - Wertpapierbestand 114Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 117

CMI GLOBAL EQUITYPortfolio of investments - Wertpapierbestand 118Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 120

CMI EUROPEAN ENHANCED EQUITYPortfolio of investments - Wertpapierbestand 121Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 122

CMIG FOCUS EURO BONDPortfolio of investments - Wertpapierbestand 123Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 127

CMIG ACCESS 80%Portfolio of investments - Wertpapierbestand 128Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 129

CMIG ACCESS 70% FLEXIBLEPortfolio of investments - Wertpapierbestand 130Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 132



HLE EURO-GARANT 80 FLEXPortfolio of investments - Wertpapierbestand 138Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 140

CMI EURO ADVENTUROUS MANAGED FUNDPortfolio of investments - Wertpapierbestand 141Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 142

CMI EURO BALANCED MANAGED FUNDPortfolio of investments - Wertpapierbestand 143Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 144

CMI EURO CAUTIOUS MANAGED FUNDPortfolio of investments - Wertpapierbestand 145Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 146


43


Page - Seite

CMI STERLING ADVENTUROUS MANAGEDPortfolio of investments - Wertpapierbestand 147Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 148

CMI STERLING BALANCED MANAGEDPortfolio of investments - Wertpapierbestand 149Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 150

CMI STERLING CAUTIOUS MANAGEDPortfolio of investments - Wertpapierbestand 151Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 152

CMI DOLLAR ADVENTUROUS MANAGEDPortfolio of investments - Wertpapierbestand 153Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 154

CMI DOLLAR BALANCED MANAGEDPortfolio of investments - Wertpapierbestand 155Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 156

CMI DOLLAR CAUTIOUS MANAGEDPortfolio of investments - Wertpapierbestand 157Sector Analysis of Portfolio - Aufschlusselung desWertpapierbestandes nach Sektoren 158


44

Portfolio and sector analysis of each Sub-FundWertpapierbestand und Sektorenaufschlusselung fur die einzelnen Teilfonds

CMI Continental European EquityPortfolio of Investments as at 31 March 2016

Wertpapierbestand zum 31. Marz 2016

Quantity -

Anzahl

Description -

Wertpapierbezeichnung

Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien

Transferable securities admitted to an officialstock exchange listing - Amtlich notierteWertpapiere

Austria - Osterreich 0.3712,465 Andritz Ag Graz 607,170 0.0845,890 Erste Group Bank Ag 1,127,976 0.1421,311 Omv Ag 532,988 0.0714,957 Raiffeisen International

Bank196,535 0.02

17,699 Voestalpine Ag 514,599 0.06

Belgium - Belgien 3.1335,777 Ageas Nv 1,248,259 0.16

133,831 Anheuser-Bush InbevSa

14,815,092 1.85

22,753 Belgacom Sa 684,979 0.0917,293 Delhaize Group 1,620,008 0.2011,009 Etab Colruyt 566,963 0.0712,408 Gbl 899,208 0.1140,975 Kbc Groupe Sa 1,862,314 0.2312,510 Solvay Sa 1,110,012 0.146,392 Telenet Group Holding 285,531 0.04

19,912 Ucb 1,345,255 0.1712,981 Umicore Sa 575,513 0.07

Denmark - Danemark 4.35539 A.P. Moeller - Maersk

A/S A605,604 0.08

1,194 A.P. Moeller - MaerskA/S B

1,378,407 0.17

18,045 Carlsberg As B 1,507,894 0.1917,176 Christian Hansen

Holding A/S1,015,646 0.13

19,030 Coloplast B 1,263,988 0.16119,898 Danske Bank As 2,985,591 0.3730,407 Dsv 1,122,077 0.148,673 Genmab A/S 1,044,909 0.13

20,713 Iss A/S 726,258 0.09329,439 Novo Nordisk A/S B 15,915,907 1.9939,791 Novozymes Shs B 1,591,753 0.2018,764 Pandora A/S 2,187,609 0.27

126,126 Tdc 545,682 0.0713,343 Tryg A/S 228,907 0.0337,354 Vestas Wind Systems

As / Reg2,328,648 0.29

3,880 William Demant Hldg 342,193 0.04

Finland - Finnland 2.1124,616 Elisa Corporation A 835,959 0.1176,786 Fortum Corporation 1,017,415 0.1355,148 Kone Oyj B 2,352,062 0.2919,424 Neste Oil Oyj 566,015 0.07

932,790 Nokia Oy 4,911,139 0.6217,640 Nokian Tyres Plc 546,840 0.0714,117 Orion Corp (New)-Shs B 410,099 0.0577,490 Sampo Plc A 3,212,736 0.40

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

84,867 Stora Enso Ab / -R- 673,420 0.0883,930 Upm-Kymmene Corp 1,349,594 0.1724,166 Wartsila Corporation B 967,123 0.12

France - Frankreich 20.3837,203 Accor Sa 1,392,508 0.174,379 Aeroports De Paris Adp 477,530 0.06

56,236 Air Liquide 5,592,108 0.7024,563 Alstom 549,597 0.079,728 Arkema 641,562 0.08

13,344 Atos 956,231 0.12321,014 Axa 6,548,686 0.82

3,799 BIC 505,457 0.06175,675 Bnp Paribas 7,730,578 0.97148,511 Bollore Sa 513,848 0.0632,276 Bouygues 1,155,481 0.1447,796 Bureau Veritas 935,368 0.1225,378 Cap Gemini Sa 2,105,359 0.2691,180 Carrefour Sa 2,203,821 0.287,637 Casino Guichard-

Perrach386,585 0.05

27,863 Cnp Assurances 379,215 0.05167,318 Credit Agricole Sa.

Paris1,583,498 0.20

19,920 Dassault Systemes Sa 1,393,802 0.178,687 Dior Sa.Christian 1,396,870 0.17

34,678 Edenred 595,248 0.0741,419 Edf 411,042 0.0533,509 Essilor International 3,625,674 0.454,750 Eurazeo 280,915 0.04

28,343 EutelsatCommunications Paris

807,634 0.10

4,928 Fonciere Des Regions 409,911 0.05322,591 France Telecom Sa 4,950,159 0.62235,859 Gdf Suez 3,213,579 0.40

4,328 Gecina / Act.Nom. 516,980 0.0697,464 Groupe Danone 6,145,105 0.7774,449 Groupe Eurotunnel

Regroupemt729,898 0.09

4,774 Hermes International 1,492,114 0.195,803 Icade Sa 391,296 0.054,706 Iliad 1,075,321 0.135,555 Imerys 340,133 0.049,397 Ingenico.Ind.Fin.Ing. 954,265 0.12

12,327 Jc Decaux Sa 473,912 0.0637,395 Klepierre 1,579,191 0.2041,572 L Oreal 6,566,297 0.8214,480 Lagardere Sca / Nom. 340,642 0.0443,455 Legrand Holding 2,145,373 0.2745,740 Lvmh Moet Hennessy

Eur 0.36,959,341 0.87

16,510 Metso Corp 347,205 0.0431,334 Michelin B / Nom. 2,836,667 0.35

162,197 Natixis 695,987 0.0915,558 Numericable-Sfr Sa 563,744 0.0736,297 Pernod-Ricard 3,601,025 0.4572,949 Peugeot Sa 1,107,731 0.1412,549 Ppr Sa 1,995,291 0.2530,343 Publicis Groupe Sa 1,888,852 0.24


45

A Statement of changes in the composition of each of the Sub-Funds is available to shareholders on request from the Company’s Registered Office or Deutsche Bank A.G., Alfred Herrhausen Allee 16-

24, D-65760 Eschborn. Eine Aufstellung der Veranderungen im Wertpapierbestand der einzelnen Teilfonds ist fur Aktionare auf Anfrage vom Gesellschaftsitz der Gesellschaft oder uber die Deutsche Bank A.

G., Alfred Herrhausen Allee 16- 24, D-65760 Eschborn erhaltlich.

The accompanying notes form an integral part of these financial statements. Die beigefugten Erlauterungen sind integraler Bestandteil dieses Abschlusses.

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

4,228 Remy Cointreau Sa 282,304 0.0432,145 Renault Sa 2,817,509 0.3542,187 Rexel Sa 530,923 0.0750,456 Safran Sa 3,129,786 0.3979,427 Saint-Gobain 3,035,700 0.38

195,092 Sanofi-Aventis 13,956,882 1.7591,061 Schneider Electric Sa 5,075,740 0.6422,606 Scor Se 711,411 0.0917,379 Sodexo 1,658,999 0.21

119,176 Ste Gen.Paris A 3,860,706 0.4848,175 Suez Environnement

Cie772,968 0.10

17,237 Technip 840,821 0.1117,842 Thales 1,380,971 0.17

360,519 Total Sa 14,570,375 1.8216,169 Unibail-Rodamco Se 3,925,833 0.4913,368 Valeo 1,835,426 0.2371,675 Veolia Environnement 1,517,718 0.1977,891 Vinci 5,087,840 0.64

190,536 Vivendi 3,523,963 0.444,272 Wendel 405,199 0.05

30,126 Zodiac Aerospace 541,063 0.07

Germany - Deutschland 19.7035,323 Adidas Namen-Akt 3,665,715 0.4675,583 Allianz Se / Nam.

Vinkuliert10,826,811 1.35

7,646 Axel Springer Se NNamen-Akt.V

364,164 0.05

152,192 Basf Namen-Akt. 10,095,504 1.26137,623 Bayer 14,252,926 1.7815,242 Beiersdorf Ag. 1,217,592 0.157,684 Bmw Ag / Vorzug. 542,621 0.07

53,869 Bmw-Bayer.Motorenwerke

4,392,586 0.55

26,382 Brenntag 1,322,793 0.17174,937 Commerzbank Akt

Nach Kap1,332,845 0.17

18,673 Continental Ag 3,754,487 0.47159,316 Daimler Ag / Namen-

Akt.10,742,678 1.34

79,988 Deutsche Ann / Namen 2,542,339 0.32224,361 Deutsche Bank Ag /

Nam.3,349,710 0.42

33,414 Deutsche Boerse Ag /Nam.

2,499,367 0.31

40,320 Deutsche Lufthansa /Nam.

578,592 0.07

156,012 Deutsche Post Ag.Bonn

3,823,386 0.48

530,527 Deutsche Telekom /Nam.

8,390,284 1.05

56,529 Deutsche Wohnen Ag 1,544,938 0.19331,220 E.On - Namen Akt. 2,798,478 0.3522,822 Evonik Industr -Shs- 604,509 0.085,261 Frankfurt Airport Serv.

Worldw.278,360 0.03

38,060 Fresenius Medical CareAg

2,968,604 0.37

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

63,650 Fresenius Se & CoKgaa

4,096,005 0.51

10,802 Fuchs Petrolub Vz.A. 426,603 0.0530,415 Gea Group Ag 1,303,982 0.169,150 Hannover Rueckve. /

Namen Akt939,247 0.12

23,160 Heidelbergcement Ag 1,743,415 0.2231,367 Henkel / Vorzug 3,071,802 0.3815,513 Henkel Ag & Co. Kgaa 1,352,237 0.179,696 Hugo Boss 558,926 0.07

188,929 Infineon Technologies /Nam.

2,372,004 0.30

30,017 K & SAktiengesellschaft

624,804 0.08

3,409 Kabel Deutschland HoldAg

327,441 0.04

14,283 Lanxess Ag 606,342 0.0832,096 Linde Ag 4,134,928 0.524,877 Man Ag 463,798 0.06

21,651 Merck Kgaa 1,592,583 0.2027,031 Metro AG 731,134 0.0927,983 Muenchener Rueckvers

/ Namensakt5,004,060 0.63

11,643 Osram Licht Akt. 523,690 0.0725,161 Porsche A Hldg / Pref 1,156,651 0.1436,749 Prosieben Sat.1 Media 1,666,714 0.2185,207 Rwe Ag Essen A 966,333 0.12

162,696 Sap Ag 11,562,642 1.45131,147 Siemens Ag / Nam. 12,244,408 1.5322,097 Symrise Ag 1,311,567 0.1671,840 Telefonica Deutschland

Hold341,384 0.04

58,243 Thyssenkrupp AgDuesseldorf

1,073,593 0.13

21,329 United Intern.&Co /Namensakt

943,723 0.12

4,502 Volkswagen Ag 574,793 0.0731,412 Volkswagen Ag /

Vorzug.3,557,095 0.44

13,708 Zalando Se 395,010 0.05

Ireland - Irland 1.124,581,904 Bank of Ireland 1,172,968 0.15137,373 Crh Plc 3,428,143 0.4327,499 Kerry Group A 2,256,843 0.2813,451 Paddy Power Plc 1,646,402 0.2033,112 Ryanair Holdings Plc 468,535 0.06

Italy - Italien 4.26188,157 Assicurazioni Generali

Spa2,447,923 0.31

66,537 Atlantia Spa 1,624,833 0.2060,309 Banco Popolare -Az.

Post Rag358,537 0.05

1,151,808 Enel 4,558,856 0.57284,141 Enel Green Power Spa 546,119 0.07419,068 Eni Spa Roma 5,540,079 0.6916,235 Exor Spa 513,838 0.0620,789 Fe New N.V. 760,669 0.10


46

CMI Continental European EquityPortfolio of Investments as at 31 March 2016 - continued

Wertpapierbestand zum 31. Marz 2016 - Fortsetzung





Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

63,129 Finmeccanica / PostRegroup.

706,413 0.09

163,675 Intesa Sanpaolo / Risp-Non Conv

365,323 0.05

2,089,654 Intesa Sanpaolo Spa 4,977,556 0.6227,632 Luxottica Group 1,354,244 0.1780,348 Mediobanca Bca

Credito Finanz.495,345 0.06

25,555 Prysmian Spa 509,567 0.061,045,332 Saipem Spa 372,452 0.05371,440 Snam Rete Gas Spa 2,031,777 0.25

1,961,125 Telecom Italia Spa 1,875,816 0.23959,388 Telecom Italia Spa /

Risp.N-Cv746,884 0.09

233,738 Terna- Rete ElettricaNazional

1,175,702 0.15

767,946 Unicredit Az 2,392,920 0.30135,338 Unione Di Banche

Italiane Scpa436,059 0.05

146,186 Unipolsai - Sai Npv Shs 295,588 0.04

Luxembourg - Luxemburg 0.53246,934 Arcelormittal Sa / Prov.

Fusion975,883 0.12

11,778 Millicom Intl Cell. /Swed.Dep.

560,163 0.07

5,622 Rtl Group Sa 417,884 0.0552,726 Ses Sa / Fdr 1,357,958 0.1782,485 Tenaris Sa 901,561 0.12

Netherlands - Niederlande 7.82304,117 Aegon Nv 1,479,529 0.1914,667 Aercap Holdings Nv 504,642 0.0641,799 Akzo Nobel Nv (Eur 2) 2,501,670 0.3161,859 Altice Nv 971,496 0.1214,143 Altice Nv 224,732 0.0356,159 Asml Holding Nv 4,992,535 0.6212,282 Boskalis Westminster 428,028 0.05

142,001 Cnh Industrial Nv 857,686 0.1196,368 Eads.Eur.Aeronaut.

Defence & Sp.5,646,201 0.71

145,341 Fiat ChryslerAutomobiles Nv

1,042,095 0.13

13,111 Gemalto 856,411 0.1117,784 Heineken Holding 1,232,965 0.1539,491 Heineken Nv 3,170,337 0.40

641,607 Ing Groep Nv / Cert.ofShs

6,823,490 0.85

140,437 Koninklijke Ahold Nv 2,829,806 0.3531,639 Koninklijke Dsm Nv 1,536,232 0.19

538,861 Koninklijke Kpn Nv / Eur0.24

1,988,936 0.25

12,043 Koninklijke Vopak 529,169 0.0740,753 NN Group Nv 1,183,467 0.1523,069 Nxp Semiconductor 1,659,093 0.2116,173 Oci 280,036 0.0434,629 Qiagen Nv 678,555 0.08

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

20,190 Randstand Holding (Eur0.1)

986,281 0.12

173,943 Reed Elsevier Nv 2,694,377 0.34153,804 Roy.Philips Electr. / Eur

0.23,850,483 0.48

98,534 Stmicroelectronics Nv 481,930 0.0677,292 Tnt Express—Shs 609,370 0.08

270,283 Unilever Cert.of Shs 10,727,532 1.3450,198 Wolters Kluwer Nv 1,778,766 0.22

Norway - Norwegen 1.26165,036 Dnb Nor Asa 1,702,555 0.2125,658 Gjensidige Forsikring 383,426 0.05

213,707 Norsk Hydro As 772,764 0.09127,370 Orkla As A 1,014,552 0.1312,591 Schibsted A 321,389 0.0415,213 Schibsted Asa 367,488 0.04

190,731 Statoilhydro Asa 2,621,485 0.33131,156 Telenor As 1,898,711 0.2431,093 Yara International Asa 1,034,562 0.13

Portugal - Portugal 0.34541,607 Banco Espirito Santo

Sa / Reg0 0.00

6,297,455 Bco Comm.Portug. /Nam.

230,487 0.03

412,030 Edp-Energias DePortugal Sa

1,282,237 0.16

58,091 Galp Energia Sgps Sa BShrs

660,204 0.08

37,212 Jeronimo Martins SgpsSa

539,760 0.07

Spain - Spanien 6.7982,495 Abertis Infraestructuras

Sa1,187,928 0.15

29,682 Acs 784,050 0.1010,509 Aena Sa 1,190,670 0.1575,066 Amadeus It Holding Sr.

A2,834,868 0.35

276,531 Banco PopularEspagnol Sa

637,681 0.08

2,395,580 Banco Santander Sa /Reg.

9,302,037 1.16

756,630 Bankia Sa 624,976 0.08113,374 Bankinter Sa 705,073 0.09

1,046,062 Bco Bilbao Viz.Argentaria / Nam.

6,120,509 0.76

820,288 Bco De Sabadell Sa /Nom.

1,307,539 0.16

436,146 Caixabank 1,133,107 0.1482,422 Distribuidora Intl 383,757 0.0538,578 Enagas 1,020,967 0.1351,262 Endesa Sa 863,252 0.1167,571 Ferrovial Sa 1,269,321 0.1659,715 Gas Natural Sdg / Split

Issue1,056,657 0.13

51,324 Grifols. Sa 1,005,694 0.13


47







Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

895,379 Iberdrola Sa 5,263,038 0.66178,246 Inditex 5,321,534 0.67136,795 Int Air Group 966,594 0.12144,284 Mapfre Sa 275,005 0.0318,616 Red Ele Corp — Shs 1,420,959 0.18

172,184 Repsol Ypf Sa. Madrid 1,706,343 0.21766,926 Telefonica Sa 7,610,207 0.9528,008 Zardoya Otis / Split

Issue285,121 0.04

Sweden - Schweden 6.3017,450 Ab 260,590 0.0346,327 Alfa Laval Ab 680,296 0.08

171,384 Assa Abloy Ab 2,967,387 0.37116,374 Atlas Copco Ab 2,572,813 0.3261,062 Atlas Copco Ab 1,263,406 0.1642,647 Boliden Ab 600,874 0.0840,646 Electrolux Ab B 935,995 0.12

510,194 Ericsson Tel. B 4,469,266 0.5627,774 Getinge Ab B 559,932 0.07

160,493 Hennes & Mauritz Ab 4,713,569 0.5941,061 Hexagon Ab B 1,389,445 0.1778,542 Husqvarna Ab B 504,012 0.0614,765 Ica Gruppen Ab 432,519 0.0573,401 Investor Ab B 2,288,386 0.2938,907 Kinnevik Investments

Ab B966,261 0.12

38,060 Lundin Petroleum Ab 562,193 0.07509,107 Nordea Bank Ab 4,297,220 0.54176,018 Sandvik Ab 1,603,811 0.2050,807 Securitas Ab B 742,235 0.09

252,866 Skandinav.Ensk.BankenA

2,145,312 0.27

59,511 Skanska B 1,194,607 0.1567,818 Skf Ab B 1,078,813 0.1398,622 Svenska Cellul. B 2,731,040 0.34

249,493 SvenskaHandelsbanken Ab

2,797,062 0.35

151,268 Swedbank Ab A 2,862,997 0.3632,205 Swedish Match Ab 958,036 0.1244,497 Tele2 Ak B 364,511 0.05

434,346 Teliasonera Ab 1,976,450 0.25257,032 Volvo B 2,467,146 0.31

Switzerland - Schweiz 19.94374,399 Abb Ltd Zuerich /

Namen.6,427,303 0.80

17,259 Actelion Ltd 2,252,902 0.2827,882 Adecco / Act.Nom. 1,592,951 0.2013,518 Aryzta Ag / Nam. 489,829 0.066,885 Baloise Holding /

Namen767,196 0.10

343 Barry Callebaut Ag /Nam.

330,157 0.04

87,340 Cie FinanciereRichemont Sa

5,117,640 0.64

300,060 Credit Suisse Group /Nom.

3,722,087 0.47

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

6,988 Dufry Ag Basel 755,683 0.091,009 Ems Chemie Holding

Ag460,016 0.06

690 Galenica Ag/Namenaktie

906,998 0.11

6,375 Geberit Ag / Namen-Aktien

2,093,221 0.26

1,616 Givaudan Sa / Reg. 2,808,161 0.3576,857 Holcim Ltd / Nam. 3,154,484 0.4036,619 Julius Baer Grp 1,378,451 0.1710,119 Kuehne & Nagel

International1,268,159 0.16

135 Lindt & Spruengli /Partiz.

728,706 0.09

15 Lindt & Spruengli / Reg 983,880 0.129,135 Lonza group ag /nom. 1,361,115 0.17

536,137 Nestle Sa 35,286,355 4.41383,482 Novartis Ag Basel /

Nam.24,538,135 3.07

3,067 Pargesa Holding Sa 172,280 0.022,345 Partners Group Holding 831,176 0.10

118,321 Roche Holding Ag /Genussschein

25,655,179 3.21

4,117 Schindler Hld Sa /Nom.

663,862 0.08

6,702 Schindler Holding /Partic

1,086,817 0.14

900 Sgs Sa / Nom. 1,674,193 0.21363 Sika Sa. Baar 1,270,878 0.16

9,133 Sonova Holding Ag /Nom.

1,016,856 0.13

4,005 Sulzer Ag /Namensaktien

351,640 0.04

4,777 Swiss Life Holding /Nam

1,114,383 0.14

10,051 Swiss Prime Site Ag /Nom.

775,903 0.10

59,727 Swiss Re-Namen 4,842,759 0.614,104 Swisscom / Nam. 1,948,908 0.24

15,671 Syngenta Ag / Nam. 5,742,901 0.725,641 The Swatch Group Ag 1,736,708 0.225,352 The Swatch Group Ag/

Nam.322,648 0.04

614,834 UBS Group Ag 8,672,061 1.0925,587 Zurich Financial

Services / Nam5,150,332 0.64

TOTAL INVESTMENTPORTFOLIO - SUMMEWERTPAPIERBESTAND

786,897,147 98.40

OTHER NET ASSETS -SONSTIGESNETTOVERMOGEN

12,762,309 1.60

TOTAL NET ASSETS -NETTOVERMOGENINSGESAMT

799,659,456 100.00


48







CMI Continental European Equity

Sector Analysis of Portfolio as at 31 March 2016

Aufschlusselung des Wertpapierbestandes nach Sektoren zum 31. Marz 2016

SectorSektor

% of Net Assets - % desNettovermogens

Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 13.53Banks and financial institutions - Banken,Kreditinstitute 10.59Food and distilleries - Nahrungsmittel,alkoholische Getranke 7.29Chemicals - Chemie 7.25News transmission -Nachrichtenubertragung 6.49Insurance - Versicherungen 5.75Public services - Energie undWasserversorgung 4.00Petrol - Treibstoff 3.68Holding and finance companies - Holding-und Finanzgesellschaften 3.63Automobile industry - Automobilindustrie 3.32Tobacco and spirits - Tabak undalkoholische Getranke 3.20Construction, building materials - Bau,Baustoffe 3.00Retail - Einzelhandel und Warenhauser 2.76Internet software - Internet, Software 2.60Mechanics, machinery - Maschinen- undApparatebau 2.53Transportation - Verkehr und Transport 2.21Electronics and electrical equipment -Elektrotechnik und Elektronik 1.92Electronic semiconductor - Halbleiter 1.90Textile - Textil- und Bekleidungsindustrie 1.81Graphic art, publishing - Grafik undVerlage 1.68Various capital goods - VerschiedeneProduktionsguter 1.53Real estate companies - Immobilien 1.27Consumer goods - Konsumguter 1.00Tyres & rubber - Gummi und Reifen 0.89Other services - SonstigeDienstleistungen 0.78Forest products and paper industry -Papier und Holz 0.67Aerospace technology - Luft- undRaumfahrttechnologie 0.63Mines, heavy industries - Kohlebergbau,Schwerindustrie 0.51Biotechnology - Biotechnologie 0.47Miscellaneous - Andere 0.47Leisure - Freizeit 0.37Clock and watch-making industry - Clock-und Uhrenindustrie 0.26Photography and optics - Foto und Optik 0.17Agriculture and fishing - Landwirtschaftund Fischerei 0.13Non-ferrous metals - Nichteisenmetalle 0.07

SectorSektor


States, provinces and municipalities -Staats- und Kommunalanleihen 0.04

TOTAL INVESTMENT PORTFOLIO -SUMME WERTPAPIERBESTAND

98.40

OTHER NET ASSETS - SONSTIGESNETTOVERMOGEN

1.60

TOTAL NET ASSETS -GESAMTNETTOVERMOGEN

100.00


49




CMI Japan Enhanced EquityPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Japan - Japan 90.243,500 Aeon Credit Service Ltd 9,296,000 0.091,000 Air Water Inc Osaka 1,666,000 0.02

34,000 Ajinomoto Co. Inc 86,343,000 0.8620,600 Alfresa Hld Corp Tokyo 44,475,400 0.4410,500 Alps Electric Co 20,601,000 0.2122,300 Amada Co.Ltd 24,485,400 0.2435,000 Aozora Bank Ltd 13,755,000 0.1416,600 Asahi Breweries 58,216,200 0.5816,000 Asahi Glass Co. Ltd 9,856,000 0.10

134,000 Asahi Kasei Corp 101,960,600 1.022,200 Asics Corp. 4,411,000 0.04

90,500 Astellas Pharma Inc 135,433,250 1.357,000 Bank of Kyoto 5,138,000 0.058,900 Benesse Corp. 28,836,000 0.29

33,000 Bk of Yokohama 17,160,000 0.1726,700 Bridgestone Corp 112,273,500 1.1217,700 Brother Industries Ltd 22,903,800 0.2344,400 Canon Inc. 148,962,000 1.491,300 Casio Computer Co Ltd 2,952,300 0.037,700 Central Japan Railway

Co153,268,500 1.53

24,000 Chiba Bank 13,464,000 0.1343,300 Chubu Electric Power

C. Jpy 50068,045,950 0.68

1,300 Chugai Pharmaceut.Co.Ltd

4,530,500 0.05

3,500 Chugoku Bank Ltd 4,102,000 0.0498,150 Chuo Mitsui Trust

Holdings Inc32,350,240 0.32

43,100 Citizen Holdings Co Ltd 27,497,800 0.289,500 Credit Saison Co Ltd 18,610,500 0.19

73,000 Dai Nippon Printing Co.Ltd

73,000,000 0.73

35,400 Dai-Ichi Life InsuranceCo Ltd

48,232,500 0.48

33,100 Daiichi Sankyo Co Ltd 82,832,750 0.83600 Daikin Industries Ltd 5,047,200 0.05

13,500 Dainippon SumitomoPharma Co

17,496,000 0.17

2,300 Daito Trust Construct. 36,754,000 0.3715,000 Daiwa H. Industr.Co.Ltd 47,490,000 0.4761,000 Daiwa Securities Group

Inc42,230,300 0.42

5,400 Denso Corp 24,429,600 0.244,400 Dentsu Inc Tokyo 24,860,000 0.258,200 East Japan Railway Co 79,646,600 0.80700 Eisai Co.Ltd 4,739,000 0.05

3,800 Familymart Co Ltd 22,230,000 0.226,600 Fanuc Ltd Jpy 50 115,401,000 1.15900 Fast Retailing Co Ltd 32,418,000 0.32

50,500 Fuji Electric HoldingsCo Ltd

19,644,500 0.20

Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

23,700 Fuji Heavy IndustriesLtd

94,207,500 0.94

17,000 Fujifilm Holdings Corp 75,667,000 0.7650,700 Fujitsu Ltd 21,121,620 0.2150,000 Fukuoka Financial

Group18,350,000 0.18

12,700 Gungho Online Ent 4,025,900 0.049,000 Gunma Bank Ltd 4,185,000 0.04

34,000 Hachijuni Bank Ltd 16,490,000 0.1642,100 Hakuhodo Dy Hld Inc 53,677,500 0.5421,000 Hankyu Hanshin

Holdings Inc15,078,000 0.15

2,325 Hirose Electric Co.Ltd 28,853,250 0.2910,500 Hisamitsu

Pharmaceutical Co52,815,000 0.53

5,910 Hitachi Chemical Co 11,967,750 0.1218,968 Hitachi Constr.Machin. 33,914,784 0.341,700 Hitachi High-

Technologies Corp5,389,000 0.05

21,000 Hitachi Ltd 11,058,600 0.1137,000 Hokuhoku Financial

Group5,476,000 0.05

71,200 Honda Motor Co.Ltd 219,723,200 2.201,100 Hoshizaki El 10,329,000 0.10

16,200 Hoya Corp 69,352,200 0.694,300 Hulic Co Ltd — Shs 4,626,800 0.05

23,100 Iida Grp Hldgs / Reit 50,704,500 0.5111,200 Isetan Mitsukoshi Hld

Ltd14,728,000 0.15

38,100 Isuzu Motors Ltd 44,272,200 0.4481,400 Itochu Corp 112,820,400 1.133,200 Itochu Techno-Solutions

Corp6,796,800 0.07

9,100 Iyo Bank Ltd 6,706,700 0.0712,400 Japan Air Lines Co. Jpy

5051,112,800 0.51

12,700 Japan Exchange GroupInc

21,894,800 0.22

11,800 Japan Post Bank Co.Ltd.

16,343,000 0.16

12,500 Japan Post HoldingsCo. Ltd.

18,775,000 0.19

11 Japan Real Estate Inv /Reit

7,150,000 0.07

79 Japan Retail Fd Invest. /Reit

21,345,800 0.21

37,400 Japan Tobacco Inc. 175,406,000 1.751,600 Jfe Holdings Inc 2,425,600 0.025,500 Jgc Corp. 9,267,500 0.09

29,000 Joyo Bank Ltd 11,194,000 0.1110,800 Js Group Corp 24,786,000 0.25

700 Jtekt Corp 1,022,000 0.019,000 Kajima Corp. 6,354,000 0.06

43,000 Kamigumi Co Ltd 45,537,000 0.4616,000 Kansai Electric Power

Co. Jpy 50015,947,200 0.16

8,200 Kao Corp. 49,224,600 0.4933,000 Kawasaki Heavy Ind. 10,725,000 0.1164,500 Kddi Corp. 193,887,000 1.94


50





Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

300 Keyence Corp. 18,417,000 0.1829,700 Kirin Holdings Co Ltd 46,866,600 0.4757,000 Kobe Steel Ltd 5,643,000 0.06

300 Koito Manufacturing CoLtd

1,530,000 0.02

40,000 Komatsu Ltd 76,640,000 0.77100 Konami Corp 333,000 0.00

26,700 Konica Minolta HoldingsInc

25,525,200 0.26

1,600 Kose Corp Tokyo 17,520,000 0.1817,000 Kubota Corp 26,120,500 0.2621,200 Kuraray Co Ltd 29,171,200 0.2915,700 Kyocera Corp. 77,824,900 0.7812,500 Kyushu Financial Group.

Inc.8,112,500 0.08

1,300 Lawson Inc 12,246,000 0.121,700 Makita Corp 11,866,000 0.12200 Marui Group Co Ltd 322,600 0.00400 Maruichi Steel Tube 1,234,000 0.01

76,370 Matsushita Electr.Ind. 78,928,395 0.7953,520 Mazda Motor Corp 93,472,680 0.9324,500 Mediceo Paltac

Holdings Co Ltd43,659,000 0.44

538 Meiji Holdings Co Ltd 4,868,900 0.059,000 Minebea Co Ltd 7,902,000 0.08

112,800 Mitsubishi ChemicalHldgs Corp

66,270,000 0.66

30,000 Mitsubishi Corp 57,180,000 0.5748,100 Mitsubishi Electric Corp 56,733,950 0.5728,000 Mitsubishi Estate Co. 58,534,000 0.5965,000 Mitsubishi Gas

Chemical39,390,000 0.39

110,000 Mitsubishi HeavyIndustries

45,991,000 0.46

56,000 Mitsubishi MaterialsCorp

17,808,000 0.18

25,900 Mitsubishi Motor Corp. 21,833,700 0.2224,700 Mitsubishi Tanabe

Pharma Corp48,337,900 0.48

400,570 Mitsubishi Ufj FinancialGroup

208,897,255 2.09

14,100 Mitsubishi Ufj Lease &Finance

6,965,400 0.07

29,900 Mitsui & Co Ltd 38,720,500 0.3952,000 Mitsui Chemicals Inc. 19,500,000 0.2027,000 Mitsui Fudosan Co 75,816,000 0.762,300 Mixi Inc 9,614,000 0.10

628,640 Mizuho Financial GroupInc

105,674,384 1.06

22,107 Msig Holdings 69,327,552 0.693,400 Murata Manufacturing

Co Ltd46,138,000 0.46

6,000 Nabtesco Corp 15,156,000 0.1516,900 Nagoya Railroad Co Ltd 8,889,400 0.0914,300 Namco Bandai Hldg 35,092,200 0.3566,000 Nec Corp 18,678,000 0.196,000 Nexon Co Ltd 11,514,000 0.12

28,100 Nhk Spring Co 30,263,700 0.30200 Nidec Corp 1,540,200 0.02

Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

17,200 Nikon Corp. 29,618,400 0.301,500 Nintendo Co.Ltd 24,000,000 0.24

26,000 Nippon Electric Glass 14,976,000 0.1573,000 Nippon Express Co.Ltd 37,376,000 0.3716,000 Nippon Meat Packers 39,680,000 0.40

59 Nippon Prologis Reit 14,862,100 0.154,400 Nippon Steel Corp 9,512,800 0.10

36,500 Nippon Tel&Tel 176,952,000 1.77200,000 Nippon Yusen K K 43,400,000 0.4311,700 Nissan Motor Co.Ltd 12,185,550 0.126,225 Nisshin Seifun Group

Inc11,136,525 0.11

1,000 Nissin Food ProductsCo.Ltd

5,290,000 0.05

3,000 Nitori Co Ltd 30,930,000 0.314,400 Nitto Denko Corp 27,530,800 0.28

12,900 Nksj Holdings Inc 41,125,200 0.4117,900 Nok Corp 34,403,800 0.34

123,900 Nomura Holdings Inc 62,309,310 0.628,900 Nomura Real Estate

Hdgs Inc18,512,000 0.19

99 Nomura Res /Reit 16,632,000 0.174,600 Nsk Ltd 4,738,000 0.053,000 Ntt Data Corp 16,950,000 0.17

53,600 Ntt Docomo Inc 136,814,000 1.3717,700 Obayashi Corp. 19,647,000 0.207,900 Olympus Corp 34,562,500 0.353,400 Omron Corp 11,390,000 0.118,700 Oriental Land Co Ltd 69,339,000 0.69

33,800 Orix Corp 54,265,900 0.54137,000 Osaka Gas Co Ltd 59,238,800 0.5921,600 Otsuka Holdings Co Ltd 88,300,800 0.8814,300 Rakuten Inc Tokyo 15,522,650 0.167,600 Recruit Holdings Co.

Ltd.26,106,000 0.26

65,900 Resona Holdings Inc 26,465,440 0.2613,900 Ricoh Co.Ltd 15,929,400 0.162,700 Rohm Co.Ltd 12,798,000 0.13700 Ryohin Keikaku Co Ltd 16,660,000 0.17

4,500 Sankyo 18,855,000 0.193,300 Sanrio Co Ltd 7,263,300 0.075,800 Santen Pharmaceutical 9,819,400 0.10

10,830 Sbi Holdings Inc 12,378,690 0.126,400 Secom Ltd 53,542,400 0.542,900 Sega Sammy Holding

Inc3,558,300 0.04

11,900 Seiko Epson Corp 21,634,200 0.2247,700 Sekisui Chemical Co

Ltd66,112,200 0.66

21,100 Seven & I Holdings CoLtd

101,111,200 1.01

100 Seven Bank Ltd 48,000 0.001,500 Shikoku Electric Power

Co Inc.2,263,500 0.02

28,000 Shimizu Corp 26,712,000 0.276,400 Shin-Etsu Chemical Co 37,273,600 0.37

61,000 Shinsei Bank Ltd 8,967,000 0.0910,000 Shionogi & Co Ltd 52,970,000 0.5311,300 Shiseido Co.Ltd 28,385,600 0.28


51

CMI Japan Enhanced EquityPortfolio of Investments as at 31 March 2016 - continued






Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

5,400 Showa Shell Sekiyu Kk 5,454,000 0.0520,800 Softbank 111,612,800 1.121,900 Sohgo Security

Services Co11,590,000 0.12

34,800 Sony Corp Jpy 50 100,676,400 1.015,231 Sony Financial Holding

Inc7,522,178 0.08

95,000 Sumitomo ChemicalCo.Ltd

48,355,000 0.48

12,200 Sumitomo ElectricIndustries

16,701,800 0.17

103,800 Sumitomo HeavyIndustries

48,267,000 0.48

42,500 Sumitomo MitsuiFinancial Gr.

145,010,000 1.45

11,000 SumitomoRealty&Development

36,234,000 0.36

18,700 Sumitomo Rubber Ind. 32,519,300 0.333,300 Suntory B & F 16,731,000 0.17300 Suruga Bank Ltd 593,400 0.01

10,170 Suzuken Co 38,900,250 0.3914,700 Suzuki Motor Corp 44,261,700 0.441,400 Sysmex Corp. Kobe 9,856,000 0.10

17,400 T&D Holdings Inc Tokyo 18,261,300 0.1830,000 Taiheiyo Cement Corp.

Tokyo7,770,000 0.08

66,000 Taisei Corp. 49,104,000 0.495,550 Taisho Pharmaceutical

Holdings49,506,000 0.50

25,000 Takashimaya Co Ltd 23,525,000 0.2411,600 Takeda Pharmaceutical

Co Ltd59,577,600 0.60

3,500 Tdk Corp 21,875,000 0.2283,000 Teijin Ltd 32,536,000 0.333,400 Terumo Corp. 13,719,000 0.14

22,100 Thk Co Ltd 45,879,600 0.464,800 Toho Co Ltd. Tokyo 14,212,800 0.14

50,200 Toho Gas Co Ltd 40,109,800 0.4013,100 Tohoku Electr.Power

Jpy 50019,021,200 0.19

25,800 Tokio Marine HoldingsInc

98,040,000 0.98

58,300 Tokyo Electric PowerJpy 500

36,087,700 0.36

1,900 Tokyo Electron Co Ltd 13,938,400 0.14122,000 Tokyo Gas Co.Ltd 64,013,400 0.6421,700 Tokyo Tatemono Co

Ltd30,423,400 0.30

14,500 Tokyu Fudosan HoldingCrp / Reit

11,078,000 0.11

1,000 Tonengeneral SekiyuKk Tokyo

1,018,000 0.01

47,000 Toppan Printing Co.Ltd 44,368,000 0.4410,500 Toshiba Corp 2,299,500 0.0216,300 Toyo Suisan Kaisha 65,852,000 0.6669,625 Toyota Motor Corp. 414,408,000 4.146,100 Toyota Tsusho Corp. 15,512,300 0.164,300 Uni-Charm Corp. 10,530,700 0.11

Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

172 United Urban Inv / Reit 31,286,800 0.31100 Uss Co Ltd Tokai 179,800 0.00

4,357 West Japan Railway Co 30,276,793 0.3017,300 Yahoo Japan Corp

Tokyo8,286,700 0.08

25,200 Yamada Denki Co Ltd 13,406,400 0.1314,000 Yamaguchi Financial

Group Inc14,322,000 0.14

5,700 Yamato Holdings CoLtd

12,807,900 0.13

20,000 Yamazaki Baking Co 47,420,000 0.47100 Yaskawa Electric Corp. 129,900 0.00

25,700 Yokogawa ElectricCorp

29,889,100 0.30

13,600 Yokohama Rubber CoLtd

25,173,600 0.25


9,024,032,896 90.24


975,481,171 9.76


9,999,514,067 100.00


52

CMI Japan Enhanced EquityPortfolio of Investments as at 31 March 2016 - continued






CMI Japan Enhanced Equity



SectorSektor


Holding and finance companies - Holding-und Finanzgesellschaften 14.95Automobile industry - Automobilindustrie 10.33Electronic semiconductor - Halbleiter 8.38Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 6.93News transmission -Nachrichtenubertragung 5.08Transportation - Verkehr und Transport 4.68Banks and financial institutions - Banken,Kreditinstitute 4.65Mechanics, machinery - Maschinen- undApparatebau 3.56Chemicals - Chemie 3.38Real estate companies - Immobilien 3.23Public services - Energie undWasserversorgung 3.04Construction, building materials - Bau,Baustoffe 2.79Food and distilleries - Nahrungsmittel,alkoholische Getranke 2.67Tobacco and spirits - Tabak undalkoholische Getranke 2.33Other business houses - SonstigeHandelshauser 2.25Electronics and electrical equipment -Elektrotechnik und Elektronik 2.18Tyres & rubber - Gummi und Reifen 1.70Internet software - Internet, Software 1.54Graphic art, publishing - Grafik undVerlage 1.42Retail - Einzelhandel und Warenhauser 1.04Other services - SonstigeDienstleistungen 0.92Leisure - Freizeit 0.83Insurance - Versicherungen 0.48Office equipment, computers -Buroausstattung, Computer 0.42Photography and optics - Foto und Optik 0.35Miscellaneous - Andere 0.31Consumer goods - Konsumguter 0.30Non-ferrous metals - Nichteisenmetalle 0.18Mines, heavy industries - Kohlebergbau,Schwerindustrie 0.17Textile - Textil- und Bekleidungsindustrie 0.09Petrol - Treibstoff 0.06


90.24


9.76


100.00


53




CMI Pacific Basin Enhanced EquityPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Australia - Australien 17.623,794 Agl Energy Ltd 53,617 0.06

19,754 Amcor Ltd 217,719 0.2621,934 Amp Ltd 97,541 0.1246,620 Anz Banking Group 840,020 1.026,855 Bank of Queensland Ltd 63,812 0.08

34,842 Bendigo and AdelaideBank Ltd

237,365 0.29

10,541 Bhp Billiton Ltd 136,499 0.163,756 Caltex Australia Ltd 98,141 0.12

10,266 Challenger Fin.ServicesGroup

66,153 0.08

11,347 Cimic Group Ltd 302,936 0.3750,816 Coca-Cola Amatil Ltd 345,018 0.4223,280 Computershare Limited

Cpu174,868 0.21

8,218 Csl Ltd 640,273 0.7820,081 Cwthbk of Australia 1,155,507 1.405,966 Flight Centre Limited 198,088 0.24

108,650 Fortescue MetalsGroup Ltd

212,794 0.26

53,343 Gpt Group / StapledSecurity

204,850 0.25

62,136 Harvey NormanHoldings Ltd

224,301 0.27

17,807 Healthscope Ltd 36,380 0.048,954 Incitec Pivot Ltd 21,938 0.03

85,151 Insurance AustraliaGroup Ltd

364,933 0.44

19,441 Lend Lease Corp. 207,102 0.258,316 Macquarie Group Ltd 422,124 0.51

23,253 National Australia BankLtd

468,632 0.57

38,984 Newcrest Mining 507,811 0.618,400 Orica Limited 99,161 0.125,763 Origin Energy Ltd

*Opa*22,530 0.03

62,960 Qantas Airways Ltd 196,811 0.2431,224 Qbe Insurance Group 261,639 0.326,814 Ramsay Health Care

Ltd Rhc321,127 0.39

920 Rea Group Ltd 38,178 0.056,046 Rio Tinto Limited 198,237 0.24

15,121 Santos Ltd 46,803 0.0693,987 Scentre Group / Reit 320,509 0.3933,622 Sonic Healthcare 484,963 0.59

237,669 South32 Ltd 267,424 0.328,293 Stockland / Units 27,197 0.03

50,919 Suncorp Metway Ltd 465,780 0.56206,597 Telstra Corporation Ltd 845,747 1.0210,853 Tpg Telecom 94,526 0.1145,218 Treasury Wine Estates 334,794 0.4162,206 Vicinity Centres 152,410 0.183,475 Vocus Communications 22,233 0.03

16,363 Wesfarmers Ltd 520,927 0.6327,840 Westfield Corporation /

Reit213,611 0.26

69,040 Westpac Banking Corp 1,609,344 1.9535,349 Woodside Petroleum

Ltd704,809 0.85

Quantity -Anzahl

Description -Wertpapierbezeichnung

MarketValue USDMarktwert

USD

% of NetAssets- % des

Nettover-mogens

Bermuda Islands - Bermudas 2.0019,000 Cheung Kong

Infrastructure Hld185,854 0.23

8,000 China Gas HoldingsLimited

11,761 0.01

34,593 Cosco Pacific Ltd 45,326 0.0632,900 First Pacific Co Ltd 24,566 0.03

598,711 Gome ElectricalAppliance Hold

86,476 0.11

86,000 Haier Electronics GroupCo Ltd

149,947 0.18

172,000 Hanergy Thin — Shs 0 0.0024,100 Hongkong Land Hlds

Ltd144,359 0.18

4,900 Jardine MathesonHldgs

275,478 0.33

20,500 Kerry Properties Ltd 56,311 0.07101,000 Nine Dragons Paper

Hldgs Ltd76,458 0.09

178,097 Nws Holdinds Ltd 284,341 0.34123,000 Sihuan Pharmaceutical 35,214 0.0479,500 Yue Yuen Ind Hld Ltd 273,228 0.33

Cayman Islands - Cayman Inseln 8.289,300 Alibaba Group Holding

Ltd /Adr733,398 0.89

47,000 Anta Sports ProductsLtd

103,526 0.13

2,500 Baidu Inc A / Adr 474,725 0.57417,000 Belle International Holdi

Ltd241,459 0.29

52,038 Cheung Kong PropertyHlds Ltd

335,211 0.41

2,000 China Medical SystemHoldings

2,775 0.00

59,000 China Mengniu Dairy CoLtd

93,892 0.11

16,000 China Resources Land 41,061 0.0512,000 China State Constr Int

Hld Ltd17,890 0.02

36,538 Ck Hutchison HoldingsLtd

474,500 0.57

472,000 Country GardenHoldings

187,480 0.23

2,000 Ctrip.Com Internation.Ltd / Sadr

90,040 0.11

18,000 Enn Energy Holdings 98,772 0.12116,000 Evergrande Real 89,608 0.11643,000 Gcl-Poly Energy

Holdings Ltd106,141 0.13

195,000 Geely Automobile HldLtd

96,567 0.12

14,000 Haitan Intl Hldgs Ltd 24,013 0.0310,500 Hengan Intl Group 91,131 0.1158,000 Hkt Ltd - Stapled 79,884 0.102,500 Jd.Com Inc /Adr 68,100 0.08145 Longfor Ppt 207 0.00700 Netease Inc /Adr 99,841 0.12

3,700 New Orientaleducat.Tech Adr

132,793 0.16

800 Qihoo 360 Techn /Adr 60,560 0.0746,400 Sands China / Ipo 189,089 0.23

648,000 Semiconduc. Manufact.Intl Corp

57,661 0.07


54





Quantity -Anzahl



USD


Nettover-mogens

70,000 Shimao Property HldLtd

103,634 0.13

48,533 Shui On Land Ltd 13,081 0.02210,000 Sino Biopharma 157,617 0.19213,000 Soho China Ltd 101,635 0.1243,000 Sunac China Holdings

Ltd28,947 0.04

1,000 Tal Education Group/Adr

49,610 0.06

97,400 Tencent Holdings Ltd 1,989,646 2.413,600 Vipshop Hldg Sp

Adrrepr 1/5th45,324 0.05

14,000 Want Want ChinaHoldings Ltd

10,381 0.01

351,000 Wh Group Ltd 254,393 0.311,100 Youku Tudou Inc Shs-A-

Sadr30,239 0.04

200 Yy Incorp/Sadr 12,276 0.0121,000 Zhen Ding Tech Hldg /

Reg Sh47,016 0.06

China - China 10.51639,000 Agricult Bk China / H -

Shares229,915 0.28

212,000 Air China Ltd 150,643 0.1832,000 Aluminium Corp of

China Ltd10,193 0.01

21,500 Anhui Conch CementCo Ltd

57,672 0.07

4,000 Avichina Indust.&Techn.H - Shares

3,002 0.00

1,845,700 Bank of China Ltd H -Shares

766,441 0.93

182,050 Bank ofCommunications Co H -Shares

119,735 0.14

38,000 Beijing Cap.Intl AirportH - Shares

40,577 0.05

100 Byd Company Limited H- Shares

574 0.00

68,000 Cgn Power Co Ltd 23,064 0.03480,800 China Citic Bk H -

Shares294,523 0.36

11,000 China Coal Energy CoLtd H - Shares

4,568 0.01

290,000 China Communicat.Services H - Shares

132,392 0.16

74,000 China CommunicationsConstr H - Shares

88,465 0.11

1,842,170 China ConstructionBank Corp H - Shares

1,175,971 1.42

49,000 China Cosco HoldingsH - Shares

19,021 0.02

70,500 China Galaxy SecuritiesH - Shares

68,643 0.08

74,000 China Life Insurance CoLtd H - Shares

182,657 0.22

38,044 China Merchants Bank /H - Shares

79,972 0.10

10,920 China Minsheng Bk H -Shares

10,196 0.01

30,000 China Natl BldingMaterial H - Shares

13,928 0.02

20,800 China Paci Insu(Group)Ltd H - Shares

77,790 0.09

Quantity -Anzahl



USD


Nettover-mogens

67,500 China Railway ConstrCorp H - Shares

80,347 0.10

122,000 China Railway GroupLtd H - Shares

92,670 0.11

14,000 China Shenhua EnergyCo H - Shares

22,027 0.03

71,000 China ShippingContainer Lines

16,207 0.02

96,200 China SouthLocomotive H - Shares

96,892 0.12

164,000 China Southern AirlinesH - Shares

103,422 0.12

508,000 China Telecom CorpLtd H - Shares

268,602 0.33

10,300 China Vanke H - Shares 25,264 0.0328,276 Chong Qing Changan

Aut. B - Shares52,984 0.06

115,000 Chongqing Rural Shs H- Shares

60,806 0.07

26,000 Citic Securities H -Shares

60,958 0.07

128,000 Cn Cinda Am /H 44,899 0.058,000 Cn Everbr Bk / H -

Shares3,889 0.00

332,000 Datang Int.PowerGeneration H - Shares

102,329 0.12

242,000 Dongfeng Motor H -Shares

302,101 0.37

20,400 Gf Securities Co Ltd 49,775 0.0668,250 Great Wall Motor Co Ltd

H - Shares55,450 0.07

164,259 Guangzhou Auto 170,948 0.21128,000 Guangzhou R&F Prop.H

- Shares / New183,559 0.22

5,200 Guangzhou ShipyardIntl H - Shares

8,557 0.01

63,600 Haitong Sec H - Shares 108,758 0.13190,000 Huadian Power Intl

Corp H - Shares121,044 0.15

300,000 Huaneng Power Intl H -Shares

268,499 0.32

22,600 Huatai Securities CoLtd

53,802 0.07

1,525,408 Ind & Com Boc H -Shares

853,763 1.03

128,000 Jiangsu Expressway CoH - Shares

172,335 0.21

6,300 New China LifeInsurance Co H - Shares

22,221 0.03

353,000 Picc Grp Cn Shs H -Shares

149,317 0.18

106,000 Picc Property &Casualty H - Shares

194,387 0.24

63,500 Ping An Insur. (Grp)CoH - Shares

303,815 0.37

60,000 Shangdong WeigaoMed.Poly H - Shares

38,224 0.05

78,000 Shanghai ElectricGroup Co H - Shares

35,609 0.04

9,700 Shanghai Lujiazui Fin. B- Shares

32,398 0.04

45,700 ShanghaiPharmaceuticals H -Shares

90,289 0.11

124,000 Sinopec EngineeringGrp Co Ltd

100,425 0.12


55

CMI Pacific Basin Enhanced EquityPortfolio of Investments as at 31 March 2016- continued






Quantity -Anzahl



USD


Nettover-mogens

430,000 Sinopec ShanghaiPetrochem.H - Shares

217,933 0.26

30,800 Sinopharm Group Co H- Shares

139,220 0.17

36,000 Sinotrans Ltd 15,739 0.022,000 Tsingtao Brewery Co

Ltd H - Shares7,596 0.01

61,640 Weichai Power Co Ltd /H - Shares

69,079 0.08

28,000 Yanzhou Coal Mining CoH - Shares

14,624 0.02

168,000 Zhejiang ExpresswayCo Ltd H - Shares

180,258 0.22

5,000 Zhuzhou Csr TimesElectric H - Shares

29,210 0.04

320,000 Zijin Mining Group H -Shares

99,043 0.12

6,960 Zte Corp H - Shares 12,710 0.02

Hong Kong - Hongkong 9.02161,200 Aia Group 913,662 1.1122,389 Bk of East Asia Ltd 83,733 0.1071,000 Boc Hong Kong


139,000 Cathay Pacific Airways 240,563 0.2936,000 China Everbright Ltd 75,582 0.0926,200 China Insurance

International57,575 0.07

120,500 China Mobile Ltd 1,343,426 1.6331,440 China Overseas

Land&Investment99,540 0.12

385,000 China Power IntlDevelop. Ltd

199,595 0.24

74,000 China Resources PowerHoldings

138,376 0.17

248,448 China Unico (Hk) 328,093 0.4032,500 Clp Holdings Ltd 294,017 0.36

197,000 Cnooc Ltd 232,715 0.2888,000 Cspc Pharmaceut —

Shs79,668 0.10

26,000 Far East Horizon 20,051 0.0292,000 Franshion Prop. 25,627 0.039,000 Galaxy Entertainment

Group33,775 0.04

12,000 Guangdong InvestmentLtd

15,181 0.02

206,682 Guangzhou InvestmentCo Ltd

29,853 0.04

3,805 H.K.Exchanges andClearing Ltd

91,663 0.11

100 Hang Seng Bank Ltd 1,768 0.0043,100 Henderson Land Dev. 264,851 0.3250,000 Hke & Hke Ltd 44,041 0.058,000 Hongkong & China Gas 14,960 0.02

15,704 Hongkong ElectricHoldings Ltd

160,701 0.19

45,086 Hysan Development Co 192,165 0.23109,016 New World

Development Co. Ltd103,895 0.13

294,000 Pccw Ltd 190,332 0.2343,374 Sino Land Co Ltd 68,689 0.0826,083 Sun Hung Kai

Properties Ltd319,049 0.39

22,200 Swire Properties Ltd 59,979 0.07

Quantity -Anzahl



USD


Nettover-mogens

82,000 Techtronic IndustriesCo Ltd

324,120 0.39

106,324 The Link Reit 630,741 0.7624,000 Wharf Hld .The 131,232 0.1696,000 Wheelock & Co 428,979 0.52

India - Indien 6.8813,708 Ambuja Cements Ltd /

Demat.48,213 0.06

1,550 Apollo Hosp 31,355 0.0421,841 Ashok Leyland Ltd /

Demat.35,887 0.04

7,832 Aurobindo Pharma 88,065 0.111,744 Bajaj Auto Ltd 63,262 0.08598 Bharat Forge Ltd /

Demat.7,872 0.01

2,018 Bharat Heavy Electrical 3,460 0.006,307 Bharat Petrol. /

Dematerialised86,160 0.10

29,281 Bharti Airtel Ltd /Demat

154,235 0.19

10,566 Bharti Infratel Ltd Shs 60,919 0.07118 Bosch Ltd 37,138 0.05

3,923 Cadila Healthcare Ltd 18,772 0.0227,702 Cairn India Limited 64,815 0.087,208 Cipla Ltd / Demat. 55,817 0.07398 Container Corpn of

India/Ds7,492 0.01

12,630 Dabur India Ltd /Dematerialised

47,624 0.06

1,808 Divi S Laboratories Ltd 26,964 0.034,809 Dr Reddy S

Laboratories / Demat220,679 0.27

18,424 Gail (India) Ltd / Demat. 99,438 0.12254 Glaxosmithkl.Cons.Hlth.

Det22,940 0.03

2,776 GlenmarkPharmaceuticals

33,284 0.04

10,625 Godrej Consumer Pr /Demat

221,483 0.27

21,440 Hcl Technologies /Demat.

263,343 0.32

248 Hero Honda Motors /Demat.

11,003 0.01

105 Hindalco Industries /Demat.

140 0.00

17,113 Hindustan Unilever Ltd 225,436 0.2716,195 Housing Devt Fin Corp 270,560 0.3396,285 Icici Bank Ltd / Dubai 341,336 0.4140,589 Idea Cellular Ltd 67,519 0.085,937 Indiabulls Housing

Finance Ltd58,181 0.07

32,793 Infosys Tech Ltd /Demat

603,913 0.73

31,151 Itc Ltd / Demat 153,904 0.1944 Jsw Steel Ltd / Demat 849 0.00

10,389 Lic Hsg Finance 77,015 0.092,968 Lupin Ltd 66,264 0.086,957 Mahindra & Mah Fin

Services26,569 0.03

6,789 Mahindra & Mahindra 123,745 0.1516,113 Marico Ltd / Demat 59,408 0.072,666 Maruti Suzuki India Ltd 149,262 0.18

16,977 Motherson SumiSystems /Demat.

67,373 0.08


56







Quantity -Anzahl



USD


Nettover-mogens

11,442 Mundra Port 42,713 0.05346 Nestle India /


46,835 Ntpc Ltd /Dematerialised

90,846 0.11

24,705 Oil & Natural Gas CorpLtd

79,899 0.10

909 Piramal Healthcare Ltd 14,269 0.0226,370 Power Finance

Corporation Ltd68,187 0.08

54,176 RelianceCommunications /Demat

40,889 0.05

3,572 Reliance Indus. /Dematerialised

56,340 0.07

23,562 Rural ElectrificationCorp Ltd

59,076 0.07

2,683 Sesa Goa Ltd /Dematerialised

3,661 0.00

167 Shree Cements Ltd 30,944 0.043,253 Shriram Transport

Finance46,482 0.06

813 Siemens Ltd /Dematerialised

13,450 0.02

40,564 State Bank Of India 118,789 0.1423,631 Sun Pharmaceutical —

Shs294,464 0.36

4,764 Tata Consultancy Serv/ Demat.

181,795 0.22

26,126 Tata Motors 152,701 0.187,289 Tata Motors Ltd A 32,128 0.04

17,377 Tata Power Co Ltd 17,024 0.022,444 Tech Mahindra Ltd 17,531 0.021,733 United Breweries Ltd /

Demat.21,556 0.03

3,917 Upl Ltd / Demat. 28,210 0.0322,122 Wipro Ltd /


8,487 Zee Entertain.Enterp.Ltd / Demat

49,515 0.06

241,080 Zee Entertainment / Pfd 3,275 0.00

Indonesia - Indonesien 2.39524,200 Adaro Energy 25,497 0.0379,908 Bk Danamon Indonesia

Tbk A22,898 0.03

536,405 Bk Negara Indo Tbk 210,342 0.2516,000 Charoen Pokphand 4,332 0.0126,500 Indofood Cbp 30,375 0.0447,500 Matahari Dept Ser A- 65,729 0.0834,400 Pt Akr Corporindo Tbk 18,029 0.02

236,700 Pt Astra InternationalTbk

129,409 0.16

279,900 Pt Bank RakyatIndonesia

241,150 0.29

217,900 Pt Bumi Serpong DamaiTbk

30,152 0.03

101,000 Pt Global MediacomTbk

9,178 0.01

52,700 Pt Gudang Garam Tbk /Demat

259,509 0.31

325,100 Pt Indofood Sukses 177,127 0.215,500 Pt Semen Gresik

(Persero)Tbk4,220 0.01

Quantity -Anzahl



USD


Nettover-mogens

200,500 Pt Summarecon AgungTbk

23,965 0.03

30,700 Pt Surya Citra MediaTbk

7,269 0.01

1,659,300 Pt Telekom IndonPersero Pt

416,050 0.50

12,100 Pt Unilever Indonesia /Idr 10

39,167 0.05

73,500 Pt Xl Axiata Tbk 22,171 0.03205,700 United Tractors 237,331 0.29

Isle of Man - Man Inseln 0.0118,000 Genting Singapore Plc 11,168 0.01

Malaysia - Malaysia 3.01127,600 Airasia Bhd 59,813 0.0748,500 Alliance Financial Gr.

Berhad51,556 0.06

69,600 Ammb Hlds Bhd 82,008 0.1012,100 Astro Malaysia Holdings

Bhd9,267 0.01

27,569 Berjaya Sports TotoBhd

22,315 0.03

15,700 British AmericanTobacco

217,323 0.26

52,600 Bumi Armada Bhd 10,644 0.017,100 Bumiputra-Commerce

Holdings8,821 0.01

41,400 Genting Berhad 103,924 0.1312,504 Hong Leong Bank Bhd 43,239 0.055,777 Hong Leong Financial

Group Bhd22,966 0.03

68,400 Ihh Healthcare Bhd 114,935 0.1413,413 Ioi Corporation Bhd 15,701 0.0249,648 Ioi Properties Group

Bhd / Reit29,377 0.04

1,100 Kuala Lumpur KepongBhd

6,762 0.01

37,657 Malayan BankingBerhad

87,005 0.11

11,720 Malaysia AirportsHoldings

20,414 0.02

85,000 Misc Bhd / Local 193,776 0.24265,700 Pet Chem 456,673 0.5523,100 Petronas Dagangan

Bhd142,600 0.17

100 Petronas Gas Bhd 564 0.00900 Ppb Group Bhd 3,850 0.00

11,700 Resorts World 13,606 0.023,572 Rhb Capital Bhd 5,398 0.01

66,100 SapurakencanaPetroleum Bhd

31,492 0.04

134,850 Tenaga Nasional 481,509 0.5812,300 Tm International Bhd 18,557 0.0220,400 Westports Holdings

Bhd21,581 0.03

332,913 Ytl Corp Berhad 139,851 0.17177,896 Ytl Power Intl Bhd 67,440 0.08

New Zealand - Neuseeland 0.4819,090 Auck Int 84,985 0.1013,809 Fletcher Building 75,434 0.0926,788 Meridian Energy Ltd 48,592 0.067,588 Ryman Healthcare 43,867 0.06


57







Quantity -Anzahl



USD


Nettover-mogens

56,128 Telecom Corp.of NewZealand

141,840 0.17

Papa New Guinea - Papua-Neu Guinea 0.1524,145 Oil Search Ltd. 125,361 0.15

Philippines - Philippinen 1.3539,180 Aboitiz Equity Ventures

Inc.55,401 0.07

29,800 Aboitiz Power 28,491 0.0361,400 Alliance Global Group

Inc22,039 0.03

4,383 Ayala Corp 71,511 0.09148,500 Ayala Land Inc. 113,874 0.1432,540 Bdo Unibank 72,416 0.0914,835 Bk of the Philippines

Islands28,077 0.03

122,230 Dmci Holdings Inc 35,630 0.04259,000 Energy Develop Corp 33,130 0.04

670 Global Telecom Inc 32,357 0.041,820 Gt Capital Holdings 55,033 0.07

13,250 Intl Container TerminalServ.

19,514 0.02

50,620 Jg Summit Holdings Inc 87,379 0.118,620 Jollibee Foods Corp. 42,567 0.05

353,000 Megaworld Corporation 31,868 0.04310,800 Metro Pacific

Investments Corp39,688 0.05

9,498 Metropolitan Bank &Trust

17,036 0.02

1,965 Phil.Long Dist.Tel. 84,638 0.1031,700 Robinson S Land Corp

Rlc19,240 0.02

3,251 Sm InvestmentsCorporations

67,151 0.08

159,012 Sm Prime Holdings Inc 75,928 0.0917,620 Universal Robina Corp. 83,101 0.10

Singapore - Singapur 3.53161,028 Comfortdelgro

Corporation Ltd349,372 0.42

2,000 Dbs Group Holdings Ltd 22,856 0.03181,200 Hutchison Port / Dis 90,600 0.1142,100 Keppel Corp Ltd 182,370 0.2276,759 Oversea-Chinese Bk

Corp504,179 0.61

4,200 Sembcorp IndustriesLtd

9,425 0.01

800 Sembcorp Marine Ltd 981 0.0032,700 Singapore Airlines Ltd 277,471 0.3421,100 Singapore Telec /

Board Lot 100059,889 0.07

47,800 Suntec Real Estate Inv.Trust

59,490 0.07

7,000 Uol Group Ltd 31,207 0.0442,453 Utd Overseas Bk /

Local595,229 0.72

226,600 Wilmar International Ltd 565,721 0.69231,400 Yangzijiang

Shipbuilding Ltd168,497 0.20

South Korea - Sudkorea 13.801,227 Amore Pacific Corp

(New)414,482 0.50

Quantity -Anzahl



USD


Nettover-mogens

179 Amorepacific /Pfd Nv 34,496 0.04167 Bgf Retail Co. Ltd. 23,937 0.03

7,906 Bs Finl Shs 67,025 0.08848 Celltrion Inc 81,378 0.10

1,429 Cheil industries inc. 178,599 0.229,723 Daewoo Securities Co

Ltd70,278 0.09

26 Dc Chemical Co Ltd 2,409 0.004,267 Dgb Financial Group 33,191 0.04308 Dongbu Insurance Co

Ltd20,432 0.02

235 Doosan Corporation 18,156 0.0220 E-Mart Co Ltd 3,068 0.0025 Glovis Co Ltd 4,119 0.01

269 GsEngineering&Construct.Corp

6,418 0.01

507 Gs Retail 20,893 0.036,195 Hana Financial Group

Inc134,278 0.16

39 Hanssem Co Ltd 7,618 0.01869 Hanwha Chemical Corp 18,950 0.02

1,224 Hanwha Corporation 37,977 0.051,197 Honam Petrochemical

Co Ltd357,270 0.43

16,934 Hynix SemiconductorInc

416,629 0.50

2,492 Hyosung Corporation 313,633 0.385,174 Hyundai Developm.Co-

Eng.&Cons.207,789 0.25

6,012 HyundaiEngineering&Constr.Co

221,477 0.27

3,456 Hyundai Fire & MarineIns Co

100,282 0.12

46 Hyundai HeavyIndustries

4,282 0.01

787 Hyundai Mobis 171,272 0.21754 Hyundai Motor / Pfd

Issued 9969,854 0.08

1,174 Hyundai Motor / Pref.Non-Vot.

106,712 0.13

2,775 Hyundai Motor Co Ltd 369,866 0.45276 Hyundai Steel Co 13,388 0.02236 Hyundai Wia Corp 21,658 0.03

13,343 Industrial Bank of Korea 142,857 0.171,580 Kangwon Land Inc 56,480 0.076,205 Kb Financial Group Inc 172,728 0.21

2 Kcc Corp 727 0.00281 Kepco Plant Serv & Eng

Co Ltd15,743 0.02

4,873 Kia Motors Corp. 205,710 0.2512,970 Korea Electric Power

Corp.682,414 0.83

342 Korea InvestmentHoldings Co

13,137 0.02

7,819 Korea Life Insurance CoLtd

45,786 0.06

891 Korean Air 24,141 0.033,657 Kt Corporation 95,247 0.123,490 Kt&G Corporation 335,529 0.41

9 Kumho Petro Shs 458 0.00153 Lg Chem td / Pfd Shs /

I0130,355 0.04

542 Lg Chemical Ltd 155,139 0.192,373 Lg Corp 142,069 0.17


58







Quantity -Anzahl



USD


Nettover-mogens

5,099 Lg Display Co Ltd 118,544 0.14313 Lg Electronics Inc 16,851 0.02358 Lg Household &

Healthcare Ltd295,683 0.36

1,562 Lg Innotek Co Ltd 108,259 0.1355 Lg Telecom Ltd 531 0.00

449 Miraeasset SecuritiesCo Ltd

9,163 0.01

611 Ncsoft Corporation 135,373 0.16331 Nhn Corporation 184,280 0.2223 Ottogi Corporation 18,232 0.02

840 Pacific Corp 107,554 0.13158 S1 Corporation 12,207 0.01543 Samsung electr./ pfd n-

vot.525,362 0.64

2,197 Samsung ElectronicsCo Ltd

2,519,273 3.05

739 Samsung Life 75,892 0.09478 Samsung Sds Co.Ltd 73,110 0.09207 Samsung Securities Co

Ltd7,228 0.01

8,928 Shinhan Financial Group 316,024 0.38656 Sk C&C Co Ltd 127,856 0.15

3,411 Sk Energy 512,769 0.625 Sk Networks Co Ltd 28 0.00

3,651 Woong Jin Coway CoLtd

307,929 0.37

30,095 Woori Bank 248,827 0.30

Taiwan - Taiwan 10.6515,000 Advanced

Semiconduct.Eng.Inc17,468 0.02

86,169 Asia Cement Corp 78,775 0.101,000 Asia Pacific Telecom

Shs344 0.00

9,492 Asustek Computer Inc 85,299 0.10544,124 Au Optronics Corp 163,612 0.20131,000 Cathay Financial

Holding157,031 0.19

1,338 Chicony Electronics CoLtd

3,445 0.00

61,000 China Life Insurance CoLtd

46,946 0.06

130,835 Chinatrust FinancialHldg Co

69,161 0.08

41,000 Chunghwa Telecom CoLtd

139,601 0.17

235,000 Compal Electronics Inc 147,608 0.18157 Delta Electronic

Industrial693 0.00

137,000 E Sun Financial HoldingLtd

76,680 0.09

5,000 Feng Tay Enterprise CoLtd

26,586 0.03

231,716 First Financial HoldingComp.

114,563 0.14

36,000 Formosa Chemicals &Fiber Co

89,777 0.11

41,000 Formosa PetrochemicalCorp

117,928 0.14

78,000 Formosa Plastics 193,548 0.2392,000 Formosa Taffeta Co Ltd 89,970 0.1147,751 Foxconn Technology

Co Ltd107,204 0.13

Quantity -Anzahl



USD


Nettover-mogens

254,970 Fubon Financial HoldingCo Ltd

325,060 0.39

3,250 Highwealth Constr.Corp 4,750 0.01418,839 Hon Hai Precision Ind.

Co Ltd1,104,418 1.34

93,387 Hua Nan FinancialHolding Co

46,462 0.06

920,273 Innolux Display Corp 321,929 0.3961,000 Inotera Memories Inc 55,292 0.07

213,430 Inventec Corporation 135,387 0.162,101 Largan Precision Co

Ltd163,000 0.20

73,427 Lite-On TechnologyCorpor.

89,730 0.11

2,445 Media TekIncorporation

18,779 0.02

197,598 Mega Financial HoldingCompany

140,705 0.17

122,994 Nan Ya Plastics Corp 258,536 0.3119,181 Novatek

Microelectronics Corp77,238 0.09

147,000 Pegatron Corporation 343,279 0.4244,963 Pou Chen Corp 57,323 0.0733,000 Powertech Technology

Inc74,908 0.09

5,000 Ruentex IndustriesLimited

8,240 0.01

897,009 Shin Kong Financial HldCo Ltd

180,186 0.22

13,000 Siliconware PrecisionIndustr.

21,020 0.03

632,962 Sinopac Holdings 195,835 0.24792 Standard Food

Corporation1,965 0.00

300,000 Taishin FinancialHoldings Co

105,879 0.13

68,207 Taiwan Business Bank 18,091 0.02162,362 Taiwan Cement Corp 159,032 0.19193,890 Taiwan Cooperative

Holdings86,818 0.11

91,213 Taiwan Fertilizer Co Ltd 137,984 0.17500,481 Taiwan Semiconductor

Manufact.2,521,118 3.05

3,336 Transcend InformationInc

10,321 0.01

154,836 Uni-PresidentEnterprises Corp

272,026 0.33

112,000 Wistron Corp 69,305 0.08172,108 Yuanta Financial

Holding Co61,545 0.08

357 Yulon Motor Co Ltd 347 0.00

Thailand - Thailand 2.1726,000 Adv. Info Serv. Pub. /

Foreign registered134,469 0.16

8,000 Airports of ThailandPub. / -F-

91,389 0.11

14,300 Bangkok Bank Public /Foreign registered

73,958 0.09

30,000 Banpu Public Co Ltd 14,237 0.0226,900 Bec World Public Co /

Foreign Registered21,595 0.03

67,000 Bgk D Medic 44,552 0.05173,400 Bts Group Hldg -

Foreign Regist44,101 0.05


59







Quantity -Anzahl



USD


Nettover-mogens

96,100 C.P.All / ForeignRegistered

124,938 0.15

36,000 Central Pattana ForeignReg

52,685 0.06

74,300 Charoen Pok / ForeignReg

51,518 0.06

12,800 Glow Energy Public CoLtd

33,464 0.04

25,000 Indorama Ventures /Foreign Reg

16,198 0.02

232,300 Irpc / ForeignRegistered

33,337 0.04

43,100 Kasikornbank Pub.Comp. / ForeignRegistered

214,335 0.26

77,500 Krung Thai Bank /Foreign Registered

41,183 0.05

13,920 Land and House Public/ Foreign Registered

3,540 0.01

53,020 Minor Intl Fore3Registered

55,747 0.07

34,775 Ptt Expl.Prod.Public /Foreign Registered

69,421 0.08

40,965 Ptt Global Public CoForei Reg

70,428 0.09

24,600 Ptt Plc Co Ltd / ForeignRegistered

195,736 0.24

10,774 Siam Cement Public Co/ Foreign Registered

142,673 0.17

34,000 Siam Commerc.BkPubl. / ForeignRegistered

136,231 0.17

18,200 Thai Oil Public Co /Foreign Registered

35,815 0.04

676,300 Tmb Bank Public CoLtd-Foreign Registered

48,431 0.06

177,900 True Corp 38,421 0.05

Virgin Islands - Virgin Inseln 0.003,612 Sino-Ocean Land


InvestmentsFunds -Anlagefonds


Australia - Australien 0.5675,945 Dexus Property Group 463,137 0.56

China - China 0.057,200 Dalian /Reit H 144 A-S 42,666 0.05

Singapore - Singapur 0.70185,550 Ascendas Real Estate

Invest.329,505 0.40

214,600 CapitacommercialTrust / Reit

234,396 0.29

5,400 Capitamall Trust / Reit 8,386 0.01

Quantity -Anzahl



USD


Nettover-mogens

Options,Warrants,Rights -Options-scheine


Thailand - Thailand 0.002,500 Indora Ven Perp Cw / Ivl 101 0.001,924 Indora Ven Perp Cw / Ivl 75 0.002,410 Minor Intl Warrant Mint /

F323 0.00

Shares -Aktien

Transferable securities and money marketinstruments dealt in on other regulatedmarkets - An einem anderen geregeltenMarkt gehandelte Wertpapiere undGeldmarktinstrumente

South Korea - Sudkorea 0.03381 Cj E&M Corp 21,245 0.02486 Paradise Co Ltd 6,159 0.01

Taiwan - Taiwan 0.108,000 Simplo Technology Co

Ltd28,732 0.04

34,105 Vanguard Intl.Semiconduct

53,343 0.06


Other transferable securities and moneymarket instruments - Sonstige Wertpapiereund Geldmarktinstrumente

Taiwan - Taiwan 0.0011,211 Right Fubon Financial 0 0.00


77,030,970 93.29


5,544,816 6.71


82,575,786 100.00


60







CMI Pacific Basin Enhanced Equity



SectorSektor


Banks and financial institutions - Banken,Kreditinstitute 14.52Electronic semiconductor - Halbleiter 10.42Holding and finance companies - Holding-und Finanzgesellschaften 8.78Real estate companies - Immobilien 7.17News transmission -Nachrichtenubertragung 6.06Internet software - Internet, Software 5.41Public services - Energie undWasserversorgung 3.62Insurance - Versicherungen 3.54Transportation - Verkehr und Transport 3.49Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 3.30Chemicals - Chemie 2.77Automobile industry - Automobilindustrie 2.64Petrol - Treibstoff 2.57Construction, building materials - Bau,Baustoffe 2.41Food and distilleries - Nahrungsmittel,alkoholische Getranke 2.07Tobacco and spirits - Tabak undalkoholische Getranke 1.62Healthcare, education and socialservices - Gesundheitsversorgung,Bildung und soziale Einrichtungen 1.44Textile - Textil- und Bekleidungsindustrie 1.32Electronics and electrical equipment -Elektrotechnik und Elektronik 1.21Other services - SonstigeDienstleistungen 1.19Office equipment, computers -Buroausstattung, Computer 1.13Leisure - Freizeit 0.95Precious metals - Edelmetalle 0.87Biotechnology - Biotechnologie 0.78Other business houses - SonstigeHandelshauser 0.74Mines, heavy industries - Kohlebergbau,Schwerindustrie 0.70Retail - Einzelhandel und Warenhauser 0.61Mechanics, machinery - Maschinen- undApparatebau 0.56Package and container industry -Verpackungsindustrie 0.26Photography and optics - Foto und Optik 0.26Non-ferrous metals - Nichteisenmetalle 0.25Forest products and paper industry -Papier und Holz 0.12Aerospace technology - Luft- undRaumfahrttechnologie 0.11Agriculture and fishing - Landwirtschaftund Fischerei 0.10Miscellaneous - Andere 0.08Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 0.08Investment funds - Investmentfonds 0.07Graphic art, publishing - Grafik undVerlage 0.06

SectorSektor


Consumer goods - Konsumguter 0.01


93.29


6.71


100.00


61




CMI US Enhanced EquityPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Ireland - Irland 1.454,279 Accenture Plc 493,668 0.352,404 Allergan Plc 660,956 0.462,009 Endo International - Shs 57,156 0.043,187 Mallinckrodt Plc 190,933 0.13881 Medtronic Holdings

Limited66,445 0.05

762 Pentair Plc 41,201 0.031,213 Willis Towers Wats Npv 144,032 0.10

11,412 Xl Group 420,989 0.29

Netherlands - Niederlande 1.0713,355 Lyondellbasell Ind Nv A 1,147,195 0.808,483 Mylan Nv 393,611 0.27

Netherlands Antilles - Niederlandische Antillen 0.7414,327 Schlumberger Ltd 1,066,072 0.74

Singapore - Singapur 0.252,285 Broadcom Limited 358,585 0.25

Switzerland - Schweiz 0.686,327 Ace Ltd 757,595 0.53881 Te Connectivity / Reg

Shs53,899 0.04

18,700 Transocean Ltd 166,243 0.11

United States - Vereinigte Staaten 93.717,796 21st Century -Shs A- 217,586 0.15

20,846 21st Century B 587,857 0.412,003 3m Co 334,000 0.23

10,829 Abbott Laboratories Inc 451,028 0.312,830 Abbvie Inc 161,310 0.113,974 Activision Blizzard Inc 135,394 0.097,818 Adt Corporation 322,883 0.23663 Advance Auto Parts Inc 108,593 0.08

12,290 Aes Corp. 142,810 0.108,922 Aetna Inc 1,018,803 0.713,132 Agilent Technologies 125,656 0.095,702 Agl Resources Inc 370,174 0.26

17,975 Aig 979,997 0.6812,696 Alcoa Inc 122,897 0.091,082 Alliance Data System

Corp233,669 0.16

39 Allstate Corp 2,641 0.002,053 Alphabet Inc A 1,577,402 1.102,237 Alphabet Inc C 1,678,936 1.17

10,551 Altria Group 660,282 0.462,391 Amazon Com Inc 1,431,468 1.004,654 American Airlines

Group Inc192,583 0.13

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

5,904 American ElectricPower Co.Inc

389,782 0.27

1,461 American Express Co. 88,084 0.06296 American Tower Corp 30,284 0.02

1,258 Ameriprise Financial Inc 120,227 0.087,052 Amerisourcebergen

Corp614,159 0.43

11,974 Amgen Inc. 1,789,874 1.254,017 Anthem Inc 562,259 0.39

41,325 Apple Inc 4,527,567 3.1614,643 Archer-Daniels Midland

Co.536,227 0.37

39,459 At&T 1,553,501 1.081,328 Avalonbay Communities

Inc.250,766 0.18

4,425 Avery Dennison Corp 320,370 0.224,503 Baker Hughes Inc 195,295 0.14

71,847 Bank of America Corp 968,498 0.683,128 Bank of Ny Mellon Corp

Shs116,174 0.08

2,462 Bard (C.R.) Inc 499,491 0.35560 Baxalta Incorporated 22,484 0.02

5,213 Baxter Intl Inc. 215,088 0.152,292 Bb&T Corporation 76,851 0.057,741 Bed Bath & Beyond Inc. 383,876 0.27

16,281 Berkshire Hathaway B 2,319,391 1.628,147 Best Buy Co Inc. 257,201 0.182,524 Biogen Idec Inc 641,550 0.45124 Blackrock Inc 42,330 0.03940 Block Inc. H&R 24,825 0.02

9,432 Boeing Co 1,212,767 0.859 Borg Warner Inc 341 0.00

13,944 Boston Scientific Corp. 262,426 0.183,794 C.H.Robinson

Worldwide Inc282,843 0.20

1,031 Cablevision SystemsCorp / A

34,023 0.02

493 California ResourcesCorp

518 0.00

6,356 Cameron InternationalCorp

430,174 0.30

7,868 Capital One FinancialCorp.

544,072 0.38

6,923 Cardinal Health Inc. 566,163 0.395,733 Caterpillar Inc. 438,632 0.313,826 Celgene Corp. 378,009 0.265,769 Centerpoint Energy Inc 120,284 0.08

12,283 Centurytel 391,459 0.276,172 Charles Schwab Corp 173,865 0.12235 Chesapeake Energy 942 0.00

13,830 Chevron Corporation 1,317,307 0.927 Chipotle Mexican Grill

Inc3,263 0.00

2,845 Church & Dwight Co Inc 262,081 0.181,244 Cigna Corp. 171,000 0.121,181 Cincinnati Financial

Corp77,792 0.05

37,922 Cisco Systems Inc. 1,079,260 0.7520,486 Citigroup Inc 857,954 0.60


62





Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

2,745 Citrix Systems Inc 213,534 0.151,937 Clorox Co 247,878 0.172,643 Cme Group Inc 252,591 0.18

15,102 Coca-Cola Co. 703,451 0.4910,207 Coca-Cola Enterprises

Inc521,476 0.36

8,824 Cognizant TechnologySol.corp

551,059 0.38

28,356 Comcast Corp / A 1,724,045 1.201,758 Comerica Inc. 67,208 0.05

13,862 Computer AssociatesIntl Inc

428,197 0.30

990 Concho Resources Inc 100,930 0.078,205 Consolidated Edison Inc 627,518 0.44

17,655 Corning Inc. 367,930 0.261,556 Crown Castle Intl Shs 135,263 0.092,242 Csra Inc 60,960 0.041,480 Cummins Inc 161,779 0.11

19,893 Cvs Caremark Corp 2,069,867 1.444,840 Danaher Corp 459,945 0.325,628 Darden Restaurants 374,712 0.26

16,030 Delta Air Lines 790,760 0.552,639 Dentsply Sirona Inc 163,776 0.113,810 Discover Fin Svc 191,491 0.137,304 Discovery Com Inc / A 205,169 0.14

11,984 Discovery Com Inc /-C- 319,254 0.222,709 Dollar General


2,026 Dover Corp. 130,333 0.0911,897 Dow Chemical Co. 612,458 0.4315,084 Dr Horton Inc 455,084 0.329,133 Dr Pepper Snapple

Group Inc821,422 0.57

822 Dte Energy Company 74,572 0.053,452 Duke Energy 277,368 0.191,913 Dun and Bradstreet

Corp198,034 0.14

2,075 Eastman Chemical Co 152,035 0.1133,698 Ebay Inc 810,100 0.57

796 Ecolab Inc. 89,486 0.064,701 Edison International 336,592 0.234,589 Edwards Lifesciences 407,916 0.283,406 Electronic Arts 226,192 0.16

19,565 Emc Corp 522,385 0.368,282 Entergy Corp. 656,183 0.463,480 Eog Resources Inc. 256,337 0.189,036 Equity Residential Sbi 676,345 0.474,384 Estee Lauder Cos A 413,937 0.293,260 Eversource Energy 190,351 0.13

10,390 Exelon Corp 368,118 0.269,013 Expeditors Intl Wash. 439,023 0.319,602 Express Scripts

Holding Co663,018 0.46

28,632 Exxon Mobil Corp 2,419,977 1.691,299 F5 Networks Inc. 137,006 0.10

15,917 Facebook Inc A 1,825,680 1.277,119 Fifth Third Bancorp 120,098 0.08592 First Solar Inc 40,830 0.03437 Firstenergy Corp 15,640 0.01

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

556 Fiserv Inc. 56,756 0.046,846 Fluor Corp 372,149 0.26

10,889 Fmc Technologies Inc 294,983 0.2159,603 Ford Motor Co 795,700 0.555,346 Gamestop Corp A 169,789 0.127,069 General Dynamics Corp 931,199 0.65

45,044 General Electric Co 1,433,751 1.002,708 General Growth

Properties Inc79,913 0.06

4,921 General Mills Inc 311,548 0.2221,600 Gilead Sciences Inc. 1,986,552 1.393,581 Goldman Sachs Group

Inc.560,426 0.39

13,002 Goodyear Tire &Rubber

426,076 0.30

3,731 Halliburton Co 134,391 0.0920 Harman Intl Industries

Inc1,740 0.00

734 Harris Corp. 57,773 0.046,773 Hartford Fin.Serv.

Group313,658 0.22

3,205 Hca Holdings Inc 250,310 0.178,116 Hcp Inc 263,283 0.18

12,574 Hewlett Packard Ent Co 224,949 0.1610,132 Home Depot Inc. 1,351,811 0.941,378 Honeywell International

Inc.154,570 0.11

9,067 Hormel FoodsCorporati

398,495 0.28

31,430 Hp Inc 386,589 0.277,969 Huntington Bancshares

Inc.76,423 0.05

6,334 Ibm Corp 940,029 0.6637 Illumina Inc 5,825 0.00

40,782 Intel Corp. 1,333,979 0.931,406 Interconexch Gr 327,893 0.238,155 International Paper Co 334,355 0.23

19,257 Interpublic Group 440,600 0.313,284 Intl Flavors & Fragr. 376,281 0.26179 Intuitive Surgical Inc 107,092 0.07

6,255 Jacobs Engineer.Group 273,781 0.191,798 Jm Smucker Co 234,064 0.16

28,070 Johnson & Johnson 3,059,069 2.13140 Johnson Controls Inc. 5,443 0.00

25,191 Jpmorgan Chase & Co 1,504,155 1.0511,904 Juniper Networks Inc. 303,671 0.218,075 Keycorp 90,036 0.064,138 Kohl S Corp. 190,555 0.135,156 Kroger Co. 196,392 0.147,513 Lam Research Corp 617,493 0.434,323 Leucadia National

Corp.68,865 0.05

1,925 Lockheed Martin Corp 429,198 0.3011,487 Lowe S Companies Inc. 873,242 0.611,626 M&T Bank Corporation 182,063 0.131,013 Macerich 80,068 0.068,260 Marathon Petroleum



63

CMI US Enhanced EquityPortfolio of Investments as at 31 March 2016 - continued






Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

4,260 Marsh & Mc-LennanCos Inc

258,752 0.18

204 Mastercard Inc. A 19,137 0.013,401 Mcdonald S Corp. 427,948 0.301,480 Mcgraw Hill Companies

Inc146,431 0.10

1,588 Mckesson Corp 250,475 0.17428 Mead Johnson A 36,376 0.03

25,524 Merck 1,358,387 0.958,318 Metlife Inc 372,064 0.26

54,558 Microsoft Corp 3,003,418 2.09852 Molson Coors Brew B

Non-Vot81,852 0.06

2,027 Mondelez InternationalInc Wi

82,012 0.06

854 Monster BeverageCorp

115,205 0.08

859 Moody S Corp 82,344 0.0612,479 Morgan Stanley 312,849 0.2213,253 Mosaic Co 372,674 0.261,175 Murphy Oil Corp. 28,693 0.021,599 Nasdaq Omx Group Inc 104,207 0.07

18,166 National Oilwell VarcoInc

564,963 0.39

16,774 Navient Corp 200,785 0.1414,134 Netapp Inc 376,812 0.262,372 Netflix Inc 242,395 0.17

6 Newfield Exploration Co 196 0.0010,994 Newmont Mining Corp. 294,089 0.214,278 News Corporation /B 56,683 0.04

13,523 News Corporation A 172,418 0.1210,273 Nextera Energy 1,217,350 0.851,100 Nike Inc B 68,244 0.05

43 Norfolk Southern Corp. 3,644 0.003,976 Northrop Grumman

Corp790,150 0.55

14,659 Nrg Energy Inc 189,687 0.1315,897 Nucor Corp. 767,984 0.5417,233 Nvidia Corp. 616,252 0.43

584 O Reilly Automotive Inc 161,558 0.115,262 Occidental Petroleum

Corp360,973 0.25

5,969 Omnicom Group Inc. 497,337 0.3531,844 Oracle Corp 1,304,649 0.91

222 Paccar Inc. 12,115 0.014,446 Parker-Hannifin 493,462 0.345,551 Paypal Holdings Inc 216,711 0.153,564 People S United

Financial Inc57,345 0.04

19,048 Pepsico Inc 1,956,039 1.36979 Perkinelmer Inc 48,304 0.03

72,539 Pfizer Inc. 2,181,248 1.528,508 Philip Morris Int. 839,655 0.592,480 Phillips 66 - Shs 217,298 0.152,978 Phillips-Van Heusen

Corp294,584 0.21

4,346 Pinnacle West Cap.Corp.

324,603 0.23

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

3,255 Pnc Financial ServicesGroup

277,814 0.19

3,221 Ppg Industries Inc. 360,430 0.25402 Priceline Com Inc 529,446 0.37982 Principal Financial

Group Inc39,054 0.03

14,348 Procter & Gamble Co. 1,186,293 0.839,004 Prologis Inc 393,205 0.275,393 Prudential Financial Inc 393,419 0.27

23,291 Publ.Serv.Enterprise 1,083,963 0.76664 Public Storage Inc. 181,411 0.13

6,092 Qualcomm Inc. 310,631 0.227,524 Quanta Services Inc 170,193 0.123,738 Raytheon Company 462,615 0.32

18,661 Regions Financial Corp 147,422 0.104,475 Reynolds American Inc 225,898 0.161,032 Rockwell Automation 118,009 0.085,864 Ross Stores Inc. 342,106 0.24891 Sandisk Corp 67,671 0.05

4,554 Scripps NetworksInteractive Inc

295,236 0.21

1,133 Sealed Air Corp 54,418 0.04126 Skyworks Solutions Inc 9,809 0.01972 Sl Green Realty


1,005 Snap-On Inc 159,333 0.1118,301 Southwest Airlines Co 823,179 0.573,725 St Jude Medical Inc 205,061 0.143,411 Stanley Black & Decker

Inc358,735 0.25

9,861 Staples Inc 108,570 0.086,173 Starbucks Corp. 370,442 0.263,327 State Street Corp 194,696 0.14791 Stryker Corp. 84,677 0.06

1,373 Suntrust Banks Inc. 50,101 0.047,133 Symantec Corp. 131,105 0.096,503 Synchrony Financial 184,555 0.132,589 Sysco Corp. 120,725 0.08

19,523 Target Corp 1,632,123 1.146,325 Teradata 165,146 0.124,644 Tesoro Corp. 401,567 0.28

10,332 Texas Instruments Inc 603,079 0.424,602 Time Warner 332,080 0.23

10,758 Tjx Cos Inc. 846,439 0.591 Topbuild Corp 29 0.00

7,906 Total System ServicesInc

369,605 0.26

8,442 Travelers CompaniesInc

991,344 0.69

13,894 Tyson Foods Inc.A 938,679 0.657,924 United Continental

Holdings474,014 0.33

5,459 United TechnologiesCorp

547,265 0.38

6,536 Unitedhealth Group Inc 847,588 0.591,441 Univ.Health Serv.Inc B 180,601 0.133,673 Unum Group 114,928 0.084,491 Urban Outfitters Inc. 148,383 0.10


64







Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

5,290 Us Bancorp 216,837 0.1516,478 Valero Ener. Corp 1,054,262 0.741,872 Varian Medical Systems

Inc149,386 0.10

1,643 Ventas Inc. 103,443 0.073,112 Verisign Inc 278,804 0.19

25,150 VerizonCommunications Inc

1,359,106 0.95

188 Vertex Pharmaceuticals 14,739 0.016,001 Viacom Inc B 240,700 0.17

14,106 Visa Inc A 1,083,059 0.7618,363 Wal-Mart Stores Inc 1,263,374 0.8814,650 Walgreens Boots

Alliance Inc1,225,179 0.85

1,053 Walt Disney / DisneySer.

104,152 0.07

35,900 Wells Fargo & Co 1,746,535 1.225,866 Welltower Inc /Reit 404,050 0.28

10,565 Western Digital Corp. 487,469 0.3423,975 Western Union

Company463,437 0.32

4,821 Westrock Co 184,403 0.131,818 Weyerhaeuser Co 56,449 0.041,424 Wyndham Worldwide

Corp108,808 0.08

44,132 Xerox Corp. 477,950 0.331,932 Xilinx Inc. 92,485 0.06

Virgin Islands - Virgin Inseln 0.061,379 Michael Kors Holdings

Ltd78,424 0.06



United States - Vereinigte Staaten 0.092,126 Realty Income Corp 132,259 0.09

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Ireland - Irland 0.111,192 Perrigo Company

Limited154,507 0.11


140,830,120 98.16


2,637,021 1.84


143,467,141 100.00


65







CMI US Enhanced Equity



SectorSektor


Internet software - Internet, Software 10.55Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 10.19Holding and finance companies - Holding-und Finanzgesellschaften 8.24Banks and financial institutions - Banken,Kreditinstitute 6.91Office equipment, computers -Buroausstattung, Computer 6.85Retail - Einzelhandel und Warenhauser 6.17Petrol - Treibstoff 6.02Food and distilleries - Nahrungsmittel,alkoholische Getranke 4.55Public services - Energie undWasserversorgung 4.03Biotechnology - Biotechnologie 3.36News transmission -Nachrichtenubertragung 3.35Aerospace technology - Luft- undRaumfahrttechnologie 3.16Graphic art, publishing - Grafik undVerlage 3.12Electronic semiconductor - Halbleiter 2.65Insurance - Versicherungen 2.31Healthcare, education and socialservices - Gesundheitsversorgung,Bildung und soziale Einrichtungen 1.96Real estate companies - Immobilien 1.94Transportation - Verkehr und Transport 1.78Mechanics, machinery - Maschinen- undApparatebau 1.53Consumer goods - Konsumguter 1.43Tobacco and spirits - Tabak undalkoholische Getranke 1.27Other services - SonstigeDienstleistungen 1.18Construction, building materials - Bau,Baustoffe 1.00Leisure - Freizeit 0.90Chemicals - Chemie 0.85Automobile industry - Automobilindustrie 0.55Mines, heavy industries - Kohlebergbau,Schwerindustrie 0.54Forest products and paper industry -Papier und Holz 0.36Tyres & rubber - Gummi und Reifen 0.30Agriculture and fishing - Landwirtschaftund Fischerei 0.26Textile - Textil- und Bekleidungsindustrie 0.26Precious metals - Edelmetalle 0.21Electronics and electrical equipment -Elektrotechnik und Elektronik 0.10Non-ferrous metals - Nichteisenmetalle 0.09Other business houses - SonstigeHandelshauser 0.08Miscellaneous - Andere 0.07

SectorSektor


Package and container industry -Verpackungsindustrie 0.04


98.16


1.84


100.00


66




CMI UK EquityPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Bermuda Islands - Bermudas 0.2917,073 Hiscox Ltd 165,608 0.2012,936 Lancashire Holdings 71,342 0.09

Cayman Islands - Cayman Inseln 0.2118,775 Phoenix Gr Ho 176,297 0.21

Germany - Deutschland 0.139,639 Tui Ag 104,294 0.13

Great Britain - Großbritannien 79.4424,814 3i Group Plc 114,244 0.1412,485 Aa Public Limited

Company33,372 0.04

24,347 Aberdeen AssetManagement Plc

68,050 0.08

27,735 Aggreko Plc 301,202 0.369,804 Al Noor 87,697 0.11

42,929 Arm Holdings Plc 436,159 0.5318,662 Ashmore Group Plc 53,635 0.0623,266 Associated British

Foods Plc783,599 0.95

116,191 Assura Plc 62,220 0.0841,746 Astrazeneca Plc 1,637,696 1.9834,225 Auto Trader Group Plc 133,477 0.166,545 Aveva Group 103,149 0.12

94,720 Aviva Plc 430,597 0.529,257 Avocet Mining Plc 370 0.004,050 Bae Systems Plc 20,635 0.02922 Bank of Georgia

Holdings Plc18,717 0.02

560,016 Barclays Plc 836,384 1.0142,529 Barratt Devel.Plc 239,864 0.2914,912 Berkeley Group Hld Plc

/ Units481,061 0.58

63,423 Bhp Billiton Plc 498,441 0.60138,006 Booker Group Plc 235,162 0.28

6,347 Bovis Homes Group Plc 59,408 0.07595,624 Bp Plc 2,109,402 2.55

4,235 Brewin Dolphin Hldgs /Gbp 0.01

10,973 0.01

73,545 British AmericanTobacco (25p)

3,002,842 3.63

22,972 British Land 161,034 0.1912,409 British Sky

Broadcasting Group127,192 0.15

16,137 Britvic Plc 114,976 0.14315,965 Bt Group Plc 1,394,511 1.6922,022 Burberry Group Plc 303,243 0.3711,975 Capita Grp 124,660 0.152,745 Card Factory Plc 8,990 0.01

53,757 Carillion Plc 159,551 0.196,146 Carnival Plc 228,631 0.28

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

433,661 Centrica Plc 987,880 1.192,264 Close Brothers Group

Plc28,345 0.03

169,289 Cobham Plc 369,727 0.4560,554 Compass Group Plc 744,209 0.9010,619 Countrywide Plc Shs 40,936 0.051,182 Cranswick Plc 25,236 0.03950 Crest Nicholson

Holdings5,372 0.01

19,649 Croda Intl Plc 594,972 0.7232,199 D S Smith Plc 131,694 0.166,789 Davis Service Group 81,468 0.10

120,909 Debenhams Plc 89,775 0.1115,908 Dechra

Pharmaceuticals Plc192,328 0.23

9,605 Derwent London Plc 302,846 0.371,968 Devro Plc 5,737 0.01

64,903 Diageo Plc 1,223,422 1.486,024 Dignity Plc 148,492 0.185,123 Diploma Plc 37,423 0.05

145,700 Direct Line 539,964 0.653,639 Domino S Pizza Uk & Irl

Plc36,335 0.04

13,745 Drax Group Plc 38,362 0.051,244 Dunelm Group Plc 11,252 0.016,874 E2v Technologies Plc 14,728 0.02

24,039 Easyjet Plc 367,797 0.4415,592 Electrocomponents 37,779 0.0523,820 Elementis Plc 57,359 0.0750,258 Enquest Plc 11,811 0.0110,176 Euromoney Institut.

Investor98,707 0.12

25,521 Evraz 22,688 0.032,877 Fidessa Group Plc 71,839 0.09

13,174 Filtrona Plc MiltonKeynes

109,476 0.13

102,208 Firstgroup Plc 98,426 0.121,894 Fuller Smith & Turner A 19,906 0.02

32,733 Galiform Plc 155,416 0.195,027 Galliford Try Plc 72,188 0.092,436 Games Workshop

Group11,821 0.01

5,920 Genus Plc Hampshire 89,866 0.11121,334 Gkn Plc 353,931 0.43145,004 Glaxosmithkline Plc 2,044,556 2.4729,468 Great Portland Est Plc 214,969 0.2641,663 Greencoat Uk Wind Plc 43,746 0.0511,169 Greggs Plc 121,742 0.1512,175 Halma Plc 111,097 0.1391,879 Hammerson Plc 531,520 0.6416,332 Hays Plc 20,023 0.022,761 Helical Bar Plc 10,637 0.015,330 Hikma Pharmaceuticals

Plc105,054 0.13

4,812 Hill & Smith Holdings 43,308 0.053,966 Hilton Food Group Plc 19,830 0.02

22,735 Home Retail Group Plc 37,763 0.054,838 Homeserve Plc 20,760 0.03

662,939 Hsbc Holdings Plc 2,877,155 3.48


67





Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

27,830 Icap Plc 130,745 0.1627,747 Ig Group Holdings Plc 221,698 0.2741,528 Impax Environmental

Mkts Plc69,767 0.08

52,094 Imperial TobaccoGroup Plc

2,013,694 2.43

62,000 Inchcape 446,400 0.5433,485 Indivior Plc 55,317 0.0736,615 Inmarsat Plc 352,602 0.433,806 Intercontinental Htl Grp

Plc106,187 0.13

20,774 Interserve Plc 91,177 0.112,627 Intertek Group Plc 83,512 0.10

11,158 Investec Plc 56,348 0.0713,867 Ip Group Plc 24,323 0.0320,158 Ite Group Plc 29,683 0.04

277,949 Itv Plc 669,301 0.8123,886 J.Sainsbury Plc 66,451 0.084,331 Jardine Lloyd

Thompson Gr.Plc36,510 0.04

4,078 John Laing Group Plc 9,298 0.013,274 John Menzies Plc 15,666 0.022,040 Johnson Matthey Plc 56,039 0.07

38,834 Jupiter / Ipo 159,608 0.195,997 Just Eat - Shs 22,657 0.03

32,169 Kcom Group Plc 34,984 0.0418,779 Kesa Electricals 24,460 0.031,824 Kier Group Plc 23,694 0.03

27,316 Kingfisher Plc 102,872 0.1261,334 Ladbrokes Plc 72,129 0.0912,052 Laird Plc 45,810 0.0619,256 Land Securities Group

Plc209,505 0.25

13,779 Lavendon Group Plc 17,913 0.02373,794 Legal & General Group

Plc877,294 1.06

14,233 Liberty International Plc 44,919 0.052,277,737 Lloyds Tsb Group Plc 1,551,822 1.88

1,517 Lonmin Plc 1,942 0.003,702 Lse Group 105,137 0.13

54,441 Man Strategic HoldingsPlc

83,512 0.10

101,174 Marks and Spencer /New

409,148 0.49

45,904 Meggitt Plc 188,115 0.2330,012 Michael Page Intl Plc 128,751 0.167,338 Micro Focus

International Plc114,253 0.14

31,925 Mitie Group Plc 81,792 0.106,222 Modwen Propert.Plc.St. 18,859 0.02

35,345 Mondi Plc 471,149 0.57101,104 National Express Group

Plc346,483 0.42

95,677 National Grid Plc 947,489 1.154,995 Next Plc 272,227 0.33

14,763 Northgate Plc 59,731 0.073,401 Novae Group 29,691 0.04

13,705 Old Mutual Plc 26,382 0.03

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

23,774 Ophir Energy Plc 18,639 0.028,959 Optimal Payments Plc 37,449 0.056,151 Oxford Instruments Plc 41,581 0.05

34,694 Paragon Group ofCompanies Plc

109,876 0.13

38,414 Pearson Plc 338,043 0.4124,316 Pennon Group Plc 197,203 0.2436,733 Persimmon Plc 764,781 0.923,600 Petrofac Ltd 32,796 0.04

11,022 Photo-Me InternationalPlc

19,895 0.02

117,895 Prudential Plc 1,527,919 1.8556,779 Qinetic Group Plc 130,137 0.161,336 Rathbone Brothers Plc 28,190 0.03

32,055 Reckitt BenckiserGroup Plc

2,150,570 2.60

5,668 Redrow Plc 22,831 0.038,510 Reed Elsevier Plc 110,375 0.13

76,209 Rentokil Initial Plc 133,975 0.169,259 Restaurant Group Plc 36,267 0.045,340 Rightmove Plc 223,799 0.27

75,334 Rio Tinto Plc / Reg. 1,481,066 1.79144,785 Rolls Royce Hld 993,949 1.2036,412 Rotork Plc 66,306 0.0867,272 Royal Bank of Scotland

Group149,277 0.18

159,999 Royal Dutch Shell / B 2,728,783 3.30138,668 Royal Dutch Shell Plc /

A2,346,263 2.84

128,456 Royal Mail Plc 618,773 0.7520,215 Rpc Group Plc 154,342 0.1913,685 Rps Group Plc 28,294 0.0374,055 Rsa Insurance Group

Plc351,539 0.43

260 S & U Plc 5,723 0.0130,034 Sabmiller Plc 1,277,947 1.5513,358 Saga Plc 25,941 0.0399,433 Sage Grp 623,942 0.7533,010 Savills Plc 251,701 0.3012,904 Schroders Plc 348,537 0.4237,656 Scottish & Southern

Energy Plc560,698 0.68

3,294 Sdl Plc 13,522 0.0215,072 Sgcln 38,283 0.0547,599 Shaftesbury Plc / Reit 433,151 0.529,853 Spirax-Sarco

Engineering Plc358,255 0.43

2,847 Spire Healthcare GroupPlc

10,249 0.01

5,243 Spirent CommunicationPlc

4,627 0.01

6,970 Sports DirectInternational

26,193 0.03

8,258 Ssp Group Plc 23,965 0.032,118 St.Ives Plc 4,824 0.01

133,172 Standard Chartered Plc 622,113 0.7566,215 Standard Life Ord 234,666 0.289,871 Sthree Plc 30,403 0.04


68

CMI UK EquityPortfolio of Investments as at 31 March 2016 - continued






Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

36,858 Talk Talk TelecomGroup Plc

87,648 0.11

15,601 Tate & Lyle Plc 90,096 0.11141,472 Tesco Plc 271,414 0.33

1,376 The Go-Ahead GroupPlc

36,725 0.04

30,261 Thomas Cook Gp 27,734 0.038,938 Topps Tiles Plc 13,094 0.021,494 Town Centre Securities

Plc4,482 0.01

9,193 Travis Perkins Plc 168,232 0.2021,213 Tt Electronics Plc 32,244 0.0429,074 Tullet Prebon Plc 102,399 0.125,678 Ultra Electronics Hldgs

Plc103,283 0.13

48,970 Unilever Plc 1,550,145 1.8720,568 Unite Group Plc 131,635 0.164,296 Vesuvius Plc 14,198 0.02

1,028,336 Vodafone Group Plc 2,272,108 2.7524,655 Weir Group Plc 271,205 0.3324,418 Wh Smith Plc 444,163 0.548,848 Whitbread Plc 350,292 0.42

105,074 William Hill Plc 343,592 0.423,054 Wincanton Plc 4,703 0.01

120,290 Wm MorrisonSupermarkets Plc

242,625 0.29

68,784 Wood Group 418,895 0.5116,294 Worldpay Group Plc 44,694 0.059,302 Ws Atkins Plc 127,716 0.15

Guernsey - Guernsey 0.0216,273 Stobart Group Ltd 16,843 0.02

Ireland - Irland 2.8243,143 Crh Plc 850,349 1.034,300 Dcc 264,450 0.32

20,675 Grafton Group Plc /Units

149,687 0.18

22,847 Greencore Group Plc 85,653 0.103,789 Paddy Power Plc 365,864 0.441,670 Paddy Power Plc 161,406 0.20

35,409 Ryanair Holdings Plc 396,070 0.489,502 United Drug Plc 55,587 0.07

Jersey - Jersey 6.428,196 Beazley Plc 29,604 0.04

73,101 Breedon AggregatesLtd

51,171 0.06

22,473 Centamin Shs 19,911 0.0284,334 Experian Plc 1,049,115 1.27

734,547 Glencore Intl 1,121,286 1.366,088 Henderson Group Plc 15,768 0.027,668 Polymetal 52,219 0.063,616 Randgold Resources

Ltd229,616 0.28

34,233 Shire Shs 1,346,041 1.63501 Wolseley Plc 19,754 0.02

84,654 Wpp Plc Shs 1,377,321 1.66

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Singapore - Singapur 0.021,169 Xp Power Ltd 18,622 0.02

Spain - Spanien 0.046,387 Int Air Group 35,639 0.04

Switzerland - Schweiz 0.3117,217 Coca-Cola Hbc 257,050 0.31



Great Britain - Großbritannien 3.1118,242 Aberforth Smaller Cos

Trust183,365 0.22

52,310 Alliance Trust Plc 262,073 0.3220,650 Blackrock Smaller Co

Trust Plc179,655 0.22

37,652 Br Front Invt 39,542 0.054,892 Br Thrgmrtn — Shs

Gbp15,505 0.02

11,213 British Assets Trust Plc 13,402 0.027,829 City of London

Investment29,027 0.03

19,842 Div Inc Trst Gbp-12- 18,529 0.0214,748 Edinburgh Investment

Trust Plc97,883 0.12

17,273 Fid China Sp / Gbp 23,370 0.0316,218 Fideli Spec Val Gbp 30,181 0.0417,430 Finsbury Growth &

Income Trust105,401 0.13

31,210 Foreign & ColonialInvest.Tr.

134,957 0.16

1,548 Gartmore Global TrustPlc

5,876 0.01

6,375 Graphite EnterpriseTrust Plc

33,061 0.04

846 Henderson Euro TrustPlc

7,300 0.01

21,382 Henderson SmallerCies Inv.

129,038 0.15

2,991 Henderson Tr PacificInv.Trust

6,139 0.01

9,391 Herald Invest Trust Plc 63,859 0.081,418 Hgcapital Trust Plc 16,463 0.026,866 Invesco Perpetual Uk

Smaller24,975 0.03

6,091 Jp Morgan Mid CapInvestm.Trst

56,646 0.07

16,205 Jpm Amer Inv Trust -Gbp

47,164 0.06

6,543 Jpm Eur Sm Co Gbp 17,784 0.023,910 Jpmorgan Asian

Investm. Trust8,455 0.01


69







Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

10,065 Jupiter EuropeanOpport.Trust

53,727 0.06

4,952 Montanaro Uk Sml / Dis 23,269 0.039,435 Murray International

Trust Plc83,405 0.10

3,826 Pantheon Intl Particip.Plc

47,385 0.06

8,523 Perpetual Inc&GwthInvest Tr.

31,799 0.04

22,220 Polar Cap Glob Fin Gbp 20,689 0.0233,938 Schroder Asiapacific Fd

Plc91,746 0.11

5,351 Schroder Uk Mid CapFd/Gbp

23,114 0.03

9,030 Scottish InvestmentTrust Plc

54,090 0.06

1,293 Scottish OrientalSmaller Comp

9,717 0.01

8,234 Standard Lif.Uk Smal.Com.Trust

27,701 0.03

7,149 Temple Bar InvestmentTrust

71,990 0.09

22,542 Templeton EmergingMarkets Inv

101,326 0.12

13,921 The Mercantile Inv.Trust Plc

231,005 0.28

17,291 Tritax Big Box Reit Plc/Reit

23,256 0.03

8,956 Witan Investment TrustPlc

66,230 0.08

66,007 Woodfor Pat Cap Gbp /Dis

62,235 0.07

Guernsey - Guernsey 0.481,081 Bh Global Limited Npv

Gbp13,413 0.02

11,658 Bluecrest Allblue FundLtd / Gbp

21,357 0.03

57,670 Hsbc Infrastucture Cos 91,926 0.1187,767 Nb Glb Flot Rteredgbp /

Dis79,078 0.09

85,252 Renewables Infr Grp-Gbp-

86,957 0.10

44,988 Ruffer Invest Co / Dis 90,820 0.1112,428 Starwood European Re

Fin -Gbp-13,161 0.02

Ireland - Irland 1.641,361,118 Swip Sterling Liq -Adv- 1,361,118 1.64

Jersey - Jersey 0.1125,324 3i Infrastruct Gbp 43,988 0.0511,036 Cvc Cred Ptr Opp-Gbp-/

Dis10,583 0.01

3,263 Ken Wil Eur Re - Gbp 38,307 0.05

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Luxembourg - Luxemburg 0.0317,584 Bilfinger Berger Gl Infra

Ord23,241 0.03



Great Britain - Großbritannien 0.3571,536 Scot Wid Uk Smr Com-

X286,217 0.35


78,929,910 95.42


3,785,709 4.58


82,715,619 100.00


70







CMI UK Equity



SectorSektor


Petrol - Treibstoff 9.23Banks and financial institutions - Banken,Kreditinstitute 7.87Tobacco and spirits - Tabak undalkoholische Getranke 6.66News transmission -Nachrichtenubertragung 5.98Investment funds - Investmentfonds 5.84Insurance - Versicherungen 5.07Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 4.95Holding and finance companies - Holding-und Finanzgesellschaften 4.52Construction, building materials - Bau,Baustoffe 3.92Food and distilleries - Nahrungsmittel,alkoholische Getranke 3.88Retail - Einzelhandel und Warenhauser 3.75Public services - Energie undWasserversorgung 3.34Leisure - Freizeit 3.14Consumer goods - Konsumguter 2.61Real estate companies - Immobilien 2.53Graphic art, publishing - Grafik undVerlage 2.34Aerospace technology - Luft- undRaumfahrttechnologie 2.23Other business houses - SonstigeHandelshauser 1.97Non-ferrous metals - Nichteisenmetalle 1.85Miscellaneous - Andere 1.66Biotechnology - Biotechnologie 1.63Transportation - Verkehr und Transport 1.63Mechanics, machinery - Maschinen- undApparatebau 1.61Internet software - Internet, Software 1.27Other services - SonstigeDienstleistungen 1.11Mines, heavy industries - Kohlebergbau,Schwerindustrie 1.02Electronic semiconductor - Halbleiter 0.91Chemicals - Chemie 0.79Textile - Textil- und Bekleidungsindustrie 0.60Forest products and paper industry -Papier und Holz 0.57Package and container industry -Verpackungsindustrie 0.35Various capital goods - VerschiedeneProduktionsguter 0.19Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 0.13Agriculture and fishing - Landwirtschaftund Fischerei 0.11Precious metals - Edelmetalle 0.07Electronics and electrical equipment -Elektrotechnik und Elektronik 0.03Environmental services & recycling -Umwelt und Recycling 0.03Photography and optics - Foto und Optik 0.02

SectorSektor


Healthcare, education and socialservices - Gesundheitsversorgung,Bildung und soziale Einrichtungen 0.01


95.42


4.58


100.00


71




Euro Equity Index TrackingPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Belgium - Belgien 4.216,412 Anheuser-Bush Inbev

Sa709,808 4.21

Finland - Finnland 1.5048,216 Nokia Oy 253,857 1.50

France - Frankreich 34.692,877 Air Liquide 286,089 1.70

17,403 Axa 355,021 2.109,345 Bnp Paribas 411,227 2.444,548 Carrefour Sa 109,925 0.651,809 Essilor International 195,734 1.16

17,037 France Telecom Sa 261,433 1.5513,577 Gdf Suez 184,987 1.105,101 Groupe Danone 321,618 1.912,041 L Oreal 322,376 1.912,268 Lvmh Moet Hennessy

Eur 0.3345,076 2.05

2,961 Safran Sa 183,671 1.094,132 Saint-Gobain 157,925 0.949,934 Sanofi-Aventis 710,678 4.214,911 Schneider Electric Sa 273,739 1.626,738 Ste Gen.Paris A 218,277 1.29

20,508 Total Sa 828,831 4.91825 Unibail-Rodamco Se 200,310 1.19

4,639 Vinci 303,019 1.809,793 Vivendi 181,122 1.07

Germany - Deutschland 31.593,819 Allianz Se / Nam.

Vinkuliert547,049 3.24

7,676 Basf Namen-Akt. 509,180 3.026,911 Bayer 715,738 4.242,679 Bmw-Bayer.

Motorenwerke218,451 1.30

8,329 Daimler Ag / Namen-Akt.

561,624 3.33

11,527 Deutsche Bank Ag /Nam.

172,098 1.02


196,399 1.16


418,829 2.48

16,722 E.On - Namen Akt. 141,284 0.843,352 Fresenius Se & Co

Kgaa215,708 1.28

1,394 Muenchener Rueckvers/ Namensakt

249,282 1.48

8,217 Sap Ag 583,974 3.466,703 Siemens Ag / Nam. 625,819 3.711,530 Volkswagen Ag /

Vorzug.173,257 1.03


Spa146,792 0.87

58,545 Enel 231,721 1.37

Quantity -Anzahl


MarketValue EURMarktwert

EUR


Nettover-mogens

21,229 Eni Spa Roma 280,647 1.66120,121 Intesa Sanpaolo Spa 286,128 1.7047,350 Unicredit Az 147,543 0.88

Netherlands - Niederlande 9.583,095 Asml Holding Nv 275,145 1.634,862 Eads.Eur.Aeronaut.

Defence & Sp.284,865 1.69


343,936 2.04

7,781 Roy.Philips Electr. / Eur0.2

194,797 1.15

13,043 Unilever Cert.of Shs 517,677 3.07

Spain - Spanien 10.03120,629 Banco Santander Sa /

Reg.468,402 2.78

53,207 Bco Bilbao Viz.Argentaria / Nam.

311,314 1.85

48,303 Iberdrola Sa 283,925 1.688,783 Inditex 262,217 1.55

36,797 Telefonica Sa 365,137 2.17


16,543,661 98.08


323,214 1.92


16,866,875 100.00


72





Euro Equity Index Tracking



SectorSektor


Banks and financial institutions - Banken,Kreditinstitute 14.00Chemicals - Chemie 8.96News transmission -Nachrichtenubertragung 8.79Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 8.56Insurance - Versicherungen 7.69Petrol - Treibstoff 6.57Public services - Energie undWasserversorgung 4.99Food and distilleries - Nahrungsmittel,alkoholische Getranke 4.98Automobile industry - Automobilindustrie 4.36Tobacco and spirits - Tabak undalkoholische Getranke 4.21Various capital goods - VerschiedeneProduktionsguter 3.71Internet software - Internet, Software 3.46Holding and finance companies - Holding-und Finanzgesellschaften 2.99Electronic semiconductor - Halbleiter 2.78Construction, building materials - Bau,Baustoffe 2.74Retail - Einzelhandel und Warenhauser 2.20Textile - Textil- und Bekleidungsindustrie 2.05Electronics and electrical equipment -Elektrotechnik und Elektronik 1.62Real estate companies - Immobilien 1.19Transportation - Verkehr und Transport 1.16Graphic art, publishing - Grafik undVerlage 1.07


98.08


1.92


100.00


73




Japan Equity Index TrackingPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Japan - Japan 98.12100 Abc Mart Inc 721,000 0.05

2,100 Acom Co Ltd Opa 1,190,700 0.083,400 Aeon Co Ltd 5,528,400 0.35500 Aeon Credit Service Ltd 1,328,000 0.08560 Aeon Mall Co Ltd 933,520 0.06

1,000 Air Water Inc Osaka 1,666,000 0.111,000 Aisin Seiki Co Ltd 4,240,000 0.273,000 Ajinomoto Co. Inc 7,618,500 0.48900 Alfresa Hld Corp Tokyo 1,943,100 0.12

6,000 All Nippon Airways CoLtd

1,902,600 0.12

900 Alps Electric Co 1,765,800 0.111,800 Amada Co.Ltd 1,976,400 0.136,000 Aozora Bank Ltd 2,358,000 0.152,000 Asahi Breweries 7,014,000 0.445,000 Asahi Glass Co. Ltd 3,080,000 0.206,000 Asahi Kasei Corp 4,565,400 0.29800 Asics Corp. 1,604,000 0.10

10,820 Astellas Pharma Inc 16,192,130 1.032,000 Bank of Kyoto 1,468,000 0.09300 Benesse Corp. 972,000 0.06

6,000 Bk of Yokohama 3,120,000 0.203,300 Bridgestone Corp 13,876,500 0.881,200 Brother Industries Ltd 1,552,800 0.10400 Calbee Inc 1,788,000 0.11

5,500 Canon Inc. 18,452,500 1.171,000 Casio Computer Co Ltd 2,271,000 0.14700 Central Japan Railway

Co13,933,500 0.88

4,000 Chiba Bank 2,244,000 0.143,300 Chubu Electric Power

C. Jpy 5005,185,950 0.33

1,200 Chugai Pharmaceut.Co.Ltd

4,182,000 0.27

800 Chugoku Bank Ltd 937,600 0.061,500 Chugoku Electric Power

Jpy 5002,280,000 0.14

17,410 Chuo Mitsui TrustHoldings Inc

5,738,336 0.36

1,400 Citizen Holdings Co Ltd 893,200 0.06800 Credit Saison Co Ltd 1,567,200 0.10

3,000 Dai Nippon Printing Co.Ltd

3,000,000 0.19

5,500 Dai-Ichi Life InsuranceCo Ltd

7,493,750 0.47

1,500 Daicel ChemicalIndustries Co.

2,307,000 0.15

1,000 Daihatsu Motor Co 1,586,000 0.103,313 Daiichi Sankyo Co Ltd 8,290,783 0.531,200 Daikin Industries Ltd 10,094,400 0.64800 Dainippon Sumitomo

Pharma Co1,036,800 0.07

Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

400 Daito Trust Construct. 6,392,000 0.413,100 Daiwa H. Industr.Co.Ltd 9,814,600 0.629,000 Daiwa Securities Group

Inc6,230,700 0.39

2,500 Denso Corp 11,310,000 0.721,100 Dentsu Inc Tokyo 6,215,000 0.39600 Don Quijote Co Ltd 2,346,000 0.15

1,700 East Japan Railway Co 16,512,100 1.051,300 Eisai Co.Ltd 8,801,000 0.56800 Electric Power

Development Co2,812,000 0.18

300 Familymart Co Ltd 1,755,000 0.111,000 Fanuc Ltd Jpy 50 17,485,000 1.11300 Fast Retailing Co Ltd 10,806,000 0.68

3,000 Fuji Electric HoldingsCo Ltd

1,167,000 0.07

3,000 Fuji Heavy IndustriesLtd

11,925,000 0.76

2,400 Fujifilm Holdings Corp 10,682,400 0.6810,000 Fujitsu Ltd 4,166,000 0.264,000 Fukuoka Financial

Group1,468,000 0.09

2,200 Gungho Online Ent 697,400 0.042,000 Gunma Bank Ltd 930,000 0.062,000 Hachijuni Bank Ltd 970,000 0.061,200 Hakuhodo Dy Hld Inc 1,530,000 0.10700 Hamamatsu Photonics 2,173,500 0.14

6,000 Hankyu HanshinHoldings Inc

4,308,000 0.27

100 Hikari Tsushin Inc. 857,000 0.051,300 Hino Motors Ltd 1,582,100 0.10110 Hirose Electric Co.Ltd 1,365,100 0.09

3,000 Hiroshima Bank Ltd 1,233,000 0.08300 Hisamitsu

Pharmaceutical Co1,509,000 0.10

500 Hitachi Chemical Co 1,012,500 0.06600 Hitachi Constr.Machin. 1,072,800 0.07400 Hitachi High-

Technologies Corp1,268,000 0.08

25,000 Hitachi Ltd 13,165,000 0.831,100 Hitachi Metals Ltd 1,277,100 0.086,000 Hokuhoku Financial

Group888,000 0.06

900 Hokuriku Elec.Jpy 500 1,433,700 0.098,400 Honda Motor Co.Ltd 25,922,400 1.64200 Hoshizaki El 1,878,000 0.12

2,100 Hoya Corp 8,990,100 0.571,500 Hulic Co Ltd — Shs 1,614,000 0.10500 Idemitsu Kosan 1,004,500 0.06

7,000 Ihi Corp 1,666,000 0.11800 Iida Grp Hldgs / Reit 1,756,000 0.11

4,900 Inpex Holdings IncTokyo

4,182,150 0.27

1,820 Isetan Mitsukoshi HldLtd

2,393,300 0.15

3,100 Isuzu Motors Ltd 3,602,200 0.238,100 Itochu Corp 11,226,600 0.71200 Itochu Techno-Solutions

Corp424,800 0.03


74





Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

1,200 Iyo Bank Ltd 884,400 0.061,200 J. Front Retailing Co Ltd 1,791,600 0.11600 Japan Air Lines Co. Jpy

502,473,200 0.16

200 Japan Airport TerminalCo

800,000 0.05

2,800 Japan Exchange GroupInc

4,827,200 0.31

2,100 Japan Post Bank Co.Ltd.

2,908,500 0.18

2,300 Japan Post HoldingsCo. Ltd.

3,454,600 0.22

4 Japan Prime Realty Inv/ Reit

1,834,000 0.12

7 Japan Real Estate Inv /Reit

4,550,000 0.29

13 Japan Retail Fd Invest. /Reit

3,512,600 0.22

5,700 Japan Tobacco Inc. 26,733,000 1.692,500 Jfe Holdings Inc 3,790,000 0.241,000 Jgc Corp. 1,685,000 0.113,000 Joyo Bank Ltd 1,158,000 0.071,400 Js Group Corp 3,213,000 0.201,000 Jsr Corp. Tokyo 1,618,000 0.101,100 Jtekt Corp 1,606,000 0.10

11,560 Jx Holdings 5,014,728 0.324,000 Kajima Corp. 2,824,000 0.18700 Kakaku Com Inc Tokyo 1,463,000 0.09

1,000 Kamigumi Co Ltd 1,059,000 0.071,000 Kaneka Corp. 964,000 0.063,600 Kansai Electric Power

Co. Jpy 5003,588,120 0.23

1,200 Kansai Paint Co LtdOsaka

2,169,600 0.14

2,600 Kao Corp. 15,607,800 0.997,000 Kawasaki Heavy Ind. 2,275,000 0.149,000 Kddi Corp. 27,054,000 1.713,000 Keihan Electric Railway

Co Ltd2,379,000 0.15

2,000 Keihin Elec.ExpressRailway Co

1,980,000 0.13

3,000 Keio Corp 2,964,000 0.191,000 Keisei Electric Railway 1,583,000 0.10263 Keyence Corp. 16,145,570 1.02

1,000 Kikkoman Corp. 3,700,000 0.239,000 Kintetsu Corp 4,104,000 0.264,200 Kirin Holdings Co Ltd 6,627,600 0.42

16,000 Kobe Steel Ltd 1,584,000 0.10500 Koito Manufacturing Co

Ltd2,550,000 0.16

4,800 Komatsu Ltd 9,196,800 0.58500 Konami Corp 1,665,000 0.11

2,300 Konica Minolta HoldingsInc

2,198,800 0.14

200 Kose Corp Tokyo 2,190,000 0.145,800 Kubota Corp 8,911,700 0.561,800 Kuraray Co Ltd 2,476,800 0.16600 Kurita Water Ind.Ltd 1,540,200 0.10

1,700 Kyocera Corp. 8,426,900 0.53

Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

1,146 Kyowa Hakko Kogyo Co 2,058,216 0.132,200 Kyushu Electr.Power

Co / Jpy 5002,356,200 0.15

1,800 Kyushu Financial Group.Inc.

1,168,200 0.07

300 Lawson Inc 2,826,000 0.181,000 M3 Inc 2,832,000 0.18300 Mabuchi Motors 1,572,000 0.10600 Makita Corp 4,188,000 0.27

8,500 Marubeni Corp. 4,845,000 0.311,100 Marui Group Co Ltd 1,774,300 0.11200 Maruichi Steel Tube 617,000 0.04

11,360 Matsushita Electr.Ind. 11,740,560 0.742,800 Mazda Motor Corp 4,890,200 0.31300 Mcdonald S Holdings

Co (Japan)799,800 0.05

700 Mediceo PaltacHoldings Co Ltd

1,247,400 0.08

602 Meiji Holdings Co Ltd 5,448,100 0.352,000 Minebea Co Ltd 1,756,000 0.11300 Miraca Holdings Inc 1,387,500 0.09

7,000 Mitsubishi ChemicalHldgs Corp

4,112,500 0.26

7,000 Mitsubishi Corp 13,342,000 0.8510,000 Mitsubishi Electric Corp 11,795,000 0.756,000 Mitsubishi Estate Co. 12,543,000 0.792,000 Mitsubishi Gas

Chemical1,212,000 0.08

16,000 Mitsubishi HeavyIndustries

6,689,600 0.42

1,000 Mitsubishi LogisticsCorp

1,478,000 0.09

6,000 Mitsubishi MaterialsCorp

1,908,000 0.12

3,300 Mitsubishi Motor Corp. 2,781,900 0.181,200 Mitsubishi Tanabe

Pharma Corp2,348,400 0.15

65,610 Mitsubishi Ufj FinancialGroup

34,215,615 2.17

2,500 Mitsubishi Ufj Lease &Finance

1,235,000 0.08

8,800 Mitsui & Co Ltd 11,396,000 0.724,000 Mitsui Chemicals Inc. 1,500,000 0.105,000 Mitsui Fudosan Co 14,040,000 0.896,000 Mitsui O.S.K. Lines Ltd

Tokyo1,374,000 0.09

200 Mixi Inc 836,000 0.05121,260 Mizuho Financial Group

Inc20,383,806 1.29

2,632 Msig Holdings 8,253,952 0.521,000 Murata Manufacturing

Co Ltd13,570,000 0.86

600 Nabtesco Corp 1,515,600 0.104,000 Nagoya Railroad Co Ltd 2,104,000 0.13900 Namco Bandai Hldg 2,208,600 0.14

13,000 Nec Corp 3,679,000 0.23700 Nexon Co Ltd 1,343,300 0.09

1,000 Ngk Insulators Ltd 2,079,000 0.13900 Ngk Spark Plug Co Ltd 1,938,600 0.12


75

Japan Equity Index TrackingPortfolio of Investments as at 31 March 2016 - continued






Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

800 Nhk Spring Co 861,600 0.051,100 Nidec Corp 8,471,100 0.541,800 Nikon Corp. 3,099,600 0.20500 Nintendo Co.Ltd 8,000,000 0.51

7 Nippon Building Fd /Reit

4,669,000 0.30

2,500 Nippon Electric Glass 1,440,000 0.094,000 Nippon Express Co.Ltd 2,048,000 0.131,000 Nippon Meat Packers 2,480,000 0.16800 Nippon Paint Co Ltd 1,997,600 0.13

8 Nippon Prologis Reit 2,015,200 0.133,900 Nippon Steel Corp 8,431,800 0.533,500 Nippon Tel&Tel 16,968,000 1.088,000 Nippon Yusen K K 1,736,000 0.11

12,800 Nissan Motor Co.Ltd 13,331,200 0.841,115 Nisshin Seifun Group

Inc1,994,735 0.13

300 Nissin Food ProductsCo.Ltd

1,587,000 0.10

400 Nitori Co Ltd 4,124,000 0.26800 Nitto Denko Corp 5,005,600 0.32

1,675 Nksj Holdings Inc 5,339,900 0.34500 Nok Corp 961,000 0.06

18,700 Nomura Holdings Inc 9,404,230 0.60600 Nomura Real Estate

Hdgs Inc1,248,000 0.08

18 Nomura Res /Reit 3,024,000 0.19660 Nomura Research

Institute Ltd2,501,400 0.16

2,400 Nsk Ltd 2,472,000 0.16600 Ntt Data Corp 3,390,000 0.21

7,400 Ntt Docomo Inc 18,888,500 1.20600 Ntt Urban Dev Corp 660,600 0.04

3,300 Obayashi Corp. 3,663,000 0.23300 Obic Co Ltd Tokyo 1,785,000 0.11

3,000 Odakyu El.Railway 3,675,000 0.234,000 Oji Paper Co Ltd 1,808,000 0.111,400 Olympus Corp 6,125,000 0.391,000 Omron Corp 3,350,000 0.212,000 Ono Pharmaceutical Co 9,530,000 0.60200 Oracle Corp Japan

Toky1,264,000 0.08

1,000 Oriental Land Co Ltd 7,970,000 0.516,800 Orix Corp 10,917,400 0.69

10,000 Osaka Gas Co Ltd 4,324,000 0.27300 Otsuka Corp 1,782,000 0.11

2,000 Otsuka Holdings Co Ltd 8,176,000 0.52500 Park24 Co Ltd Tokyo 1,575,000 0.10

4,800 Rakuten Inc Tokyo 5,210,400 0.33700 Recruit Holdings Co.

Ltd.2,404,500 0.15

11,400 Resona Holdings Inc 4,578,240 0.293,600 Ricoh Co.Ltd 4,125,600 0.26200 Rinnai Corp. 1,988,000 0.13500 Rohm Co.Ltd 2,370,000 0.15100 Ryohin Keikaku Co Ltd 2,380,000 0.15300 Sankyo 1,257,000 0.08300 Sanrio Co Ltd 660,300 0.04

Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

1,900 Santen Pharmaceutical 3,216,700 0.201,070 Sbi Holdings Inc 1,223,010 0.081,100 Secom Ltd 9,202,600 0.581,000 Sega Sammy Holding

Inc1,227,000 0.08

600 Seibu Holdings Inc 1,428,600 0.091,400 Seiko Epson Corp 2,545,200 0.162,100 Sekisui Chemical Co

Ltd2,910,600 0.18

3,100 Sekisui House Ltd 5,888,450 0.373,900 Seven & I Holdings Co

Ltd18,688,800 1.18

3,100 Seven Bank Ltd 1,488,000 0.09900 Shikoku Electric Power

Co Inc.1,358,100 0.09

1,000 Shimadzu Corp 1,765,000 0.11100 Shimamura Corp. 1,405,000 0.09400 Shimano Inc. 7,056,000 0.45

3,000 Shimizu Corp 2,862,000 0.182,100 Shin-Etsu Chemical Co 12,230,400 0.789,000 Shinsei Bank Ltd 1,323,000 0.081,500 Shionogi & Co Ltd 7,945,500 0.501,900 Shiseido Co.Ltd 4,772,800 0.303,000 Shizuoka Bank Ltd 2,436,000 0.151,000 Showa Shell Sekiyu Kk 1,010,000 0.06300 Smc Corp 7,842,000 0.50

4,900 Softbank 26,293,400 1.67300 Sohgo Security

Services Co1,830,000 0.12

6,500 Sony Corp Jpy 50 18,804,500 1.19900 Sony Financial Holding

Inc1,294,200 0.08

700 Stanley Electric Co Ltd 1,781,500 0.118,000 Sumitomo Chemical

Co.Ltd4,072,000 0.26

5,800 Sumitomo Corp. 6,487,300 0.413,900 Sumitomo Electric

Industries5,339,100 0.34

3,000 Sumitomo HeavyIndustries

1,395,000 0.09

3,000 Sumitomo Metal MiningCo.Ltd

3,352,500 0.21

6,500 Sumitomo MitsuiFinancial Gr.

22,178,000 1.41

2,000 SumitomoRealty&Development

6,588,000 0.42

900 Sumitomo Rubber Ind. 1,565,100 0.10700 Suntory B & F 3,549,000 0.22900 Suruga Bank Ltd 1,780,200 0.11440 Suzuken Co 1,683,000 0.11

1,900 Suzuki Motor Corp 5,720,900 0.36700 Sysmex Corp. Kobe 4,928,000 0.31

3,000 T&D Holdings Inc Tokyo 3,148,500 0.206,000 Taiheiyo Cement Corp.

Tokyo1,554,000 0.10

5,000 Taisei Corp. 3,720,000 0.24200 Taisho Pharmaceutical

Holdings1,784,000 0.11


76







Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

800 Taiyo Nip.Sanso Corp 854,400 0.051,000 Takashimaya Co Ltd 941,000 0.064,100 Takeda Pharmaceutical

Co Ltd21,057,600 1.33

600 Tdk Corp 3,750,000 0.245,000 Teijin Ltd 1,960,000 0.121,600 Terumo Corp. 6,456,000 0.41600 Thk Co Ltd 1,245,600 0.08

5,000 Tobu Railway Co.Ltd 2,805,000 0.18600 Toho Co Ltd. Tokyo 1,776,600 0.11

2,000 Toho Gas Co Ltd 1,598,000 0.102,300 Tohoku Electr.Power

Jpy 5003,339,600 0.21

3,500 Tokio Marine HoldingsInc

13,300,000 0.84

7,400 Tokyo Electric PowerJpy 500

4,580,600 0.29

900 Tokyo Electron Co Ltd 6,602,400 0.4212,000 Tokyo Gas Co.Ltd 6,296,400 0.401,100 Tokyo Tatemono Co

Ltd1,542,200 0.10

6,000 Tokyu Corp 5,658,000 0.362,600 Tokyu Fudosan Holding

Crp / Reit1,986,400 0.13

1,000 Tonengeneral SekiyuKk Tokyo

1,018,000 0.06

3,000 Toppan Printing Co.Ltd 2,832,000 0.188,000 Toray Industries Inc. 7,673,600 0.49

21,000 Toshiba Corp 4,599,000 0.29700 Toto Ltd 2,457,000 0.16800 Toyo Seikan Kaisha Ltd 1,686,400 0.11500 Toyo Suisan Kaisha 2,020,000 0.13300 Toyoda Gosei Co Ltd 651,600 0.04800 Toyota Industries Corp 4,048,000 0.26

14,000 Toyota Motor Corp. 83,328,000 5.281,100 Toyota Tsusho Corp. 2,797,300 0.18500 Trend Micro Inc. Tokyo 2,060,000 0.13

1,900 Uni-Charm Corp. 4,653,100 0.2914 United Urban Inv / Reit 2,546,600 0.16

1,100 Uss Co Ltd Tokai 1,977,800 0.13800 West Japan Railway Co 5,559,200 0.35

7,300 Yahoo Japan CorpTokyo

3,496,700 0.22

500 Yakult Honsha 2,492,500 0.163,500 Yamada Denki Co Ltd 1,862,000 0.121,000 Yamaguchi Financial

Group Inc1,023,000 0.06

900 Yamaha Corp. 3,051,000 0.191,400 Yamaha Motor Co Ltd 2,620,800 0.171,800 Yamato Holdings Co

Ltd4,044,600 0.26

1,000 Yamazaki Baking Co 2,371,000 0.151,200 Yaskawa Electric Corp. 1,558,800 0.10

Quantity -

Anzahl

Description -


Market

Value JPY

Marktwert

JPY

% of Net

Assets

- % des

Nettover-

mogens

1,200 Yokogawa ElectricCorp

1,395,600 0.09

500 Yokohama Rubber CoLtd

925,500 0.06


1,548,430,351 98.12


29,695,866 1.88


1,578,126,217 100.00


77







Japan Equity Index Tracking



SectorSektor


Holding and finance companies - Holding-und Finanzgesellschaften 14.66Automobile industry - Automobilindustrie 12.34Electronic semiconductor - Halbleiter 10.49Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 7.99Banks and financial institutions - Banken,Kreditinstitute 5.24Transportation - Verkehr und Transport 5.05Mechanics, machinery - Maschinen- undApparatebau 4.04News transmission -Nachrichtenubertragung 4.04Chemicals - Chemie 3.47Real estate companies - Immobilien 3.37Other business houses - SonstigeHandelshauser 3.18Construction, building materials - Bau,Baustoffe 3.08Electronics and electrical equipment -Elektrotechnik und Elektronik 2.91Internet software - Internet, Software 2.88Public services - Energie undWasserversorgung 2.48Tobacco and spirits - Tabak undalkoholische Getranke 2.13Food and distilleries - Nahrungsmittel,alkoholische Getranke 1.54Other services - SonstigeDienstleistungen 1.19Retail - Einzelhandel und Warenhauser 1.19Tyres & rubber - Gummi und Reifen 1.04Office equipment, computers -Buroausstattung, Computer 0.78Graphic art, publishing - Grafik undVerlage 0.76Mines, heavy industries - Kohlebergbau,Schwerindustrie 0.67Leisure - Freizeit 0.62Miscellaneous - Andere 0.58Consumer goods - Konsumguter 0.48Insurance - Versicherungen 0.47Non-ferrous metals - Nichteisenmetalle 0.41Photography and optics - Foto und Optik 0.39Textile - Textil- und Bekleidungsindustrie 0.25Petrol - Treibstoff 0.18Forest products and paper industry -Papier und Holz 0.11Package and container industry -Verpackungsindustrie 0.11


98.12


1.88


100.00


78




UK Equity Index TrackingPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Bermuda Islands - Bermudas 0.2754,794 Aquarius Platinum 7,260 0.026,062 Hiscox Ltd 58,801 0.144,228 Lancashire Holdings 23,318 0.05

10,531 Petra Diamonds Ltd 10,768 0.037,274 Utilico Emerging

Markets Ltd12,939 0.03

Canada - Kanada 0.026,949 Entertainment One Lted 10,542 0.02

Cayman Islands - Cayman Inseln 0.114,793 Phoenix Gr Ho 45,006 0.11

Germany - Deutschland 0.259,869 Tui Ag 106,782 0.25

Great Britain - Großbritannien 86.7320,178 3i Group Plc 92,900 0.22

614 4imprint Group Plc 7,675 0.021,765 A G Barr Shs 9,407 0.02

12,932 Aa Public LimitedCompany

34,567 0.08

21,095 Aberdeen AssetManagement Plc

58,961 0.14

1,247 Acal Plc 3,021 0.014,149 Admiral Group Plc 81,943 0.193,152 African Barrick Gold 8,731 0.025,121 Aggreko Plc 55,614 0.137,777 Al Noor 69,565 0.163,733 Aldermore Group Plc 7,828 0.022,348 Allied Minds Plc 10,913 0.038,339 Amec Plc 36,767 0.09

27,362 Anglo American Plc 149,123 0.351,010 Anglo Eastern

Plantations Inc5,656 0.01

7,432 Antofagasta Plc 35,882 0.083,974 Ao World Plc 7,141 0.02

29,557 Arm Holdings Plc 300,299 0.713,182 Arrow Global Group Plc 8,011 0.028,321 Ashmore Group Plc 23,915 0.06

10,540 Ashtead Group Plc 90,802 0.217,297 Associated British

Foods Plc245,763 0.58

25,761 Assura Plc 13,795 0.0326,425 Astrazeneca Plc 1,036,653 2.4520,549 Auto Trader Group Plc 80,141 0.191,365 Aveva Group 21,512 0.05

84,714 Aviva Plc 385,110 0.91800 Avon Rubber Plc 6,168 0.01

10,515 Babcock InternationalGroup

100,261 0.24

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

66,231 Bae Systems Plc 337,447 0.8014,689 Balfour Beatty Plc 37,163 0.09

698 Bank of GeorgiaHoldings Plc

14,169 0.03

350,689 Barclays Plc 523,754 1.2420,852 Barratt Devel.Plc 117,605 0.2821,831 Bba Aviation Plc 43,837 0.102,607 Bellway Plc 68,173 0.162,635 Berkeley Group Hld Plc

/ Units85,005 0.20

44,228 Bhp Billiton Plc 347,588 0.823,039 Big Yellow Group 23,567 0.062,700 Bloomsbury Publishing

Plc3,888 0.01

4,080 Bodycote Plc 24,623 0.0635,053 Booker Group Plc 59,730 0.142,873 Bovis Homes Group Plc 26,891 0.06

386,167 Bp Plc 1,367,610 3.245,735 Brewin Dolphin Hldgs /

Gbp 0.0114,859 0.04

39,033 British AmericanTobacco (25p)

1,593,717 3.77

21,588 British Land 151,332 0.36540 British Polythene Ind.

Plc3,718 0.01

21,959 British SkyBroadcasting Group

225,080 0.53

5,345 Britvic Plc 38,083 0.09175,256 Bt Group Plc 773,492 1.83

8,146 Btg Plc 50,546 0.126,941 Bunzl Plc 140,416 0.339,277 Burberry Group Plc 127,744 0.30

59,258 C&W Commun 45,540 0.1112,298 Cairn Energy 24,522 0.062,003 Cambian Group Plc 1,247 0.00

15,507 Cap Count Pty 51,359 0.1213,860 Capita Grp 144,283 0.349,998 Capital & Regional Plc 6,499 0.024,944 Card Factory Plc 16,192 0.049,183 Carillion Plc 27,255 0.063,821 Carnival Plc 142,141 0.341,084 Carpetright 3,588 0.01

20,834 Carphone WarehouseGroup Plc

88,878 0.21

105,794 Centrica Plc 240,999 0.571,588 Charles Taylor Consult.

Plc4,288 0.01

6,167 Chemring Group Plc 8,110 0.022,777 Chesnara Plc 8,963 0.024,161 Cineworld Group Plc 22,490 0.053,993 Circassia

Pharmaceutical Plc10,785 0.03

437 City of LondonInvestment Group

1,311 0.00

527 Clarkson Plc 11,842 0.033,180 Close Brothers Group

Plc39,814 0.09

363 Cls Holdings Plc 5,521 0.0124,300 Cobham Plc 53,071 0.13


79





Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

5,445 Communisis Plc 2,559 0.0134,503 Compass Group Plc 424,042 1.001,414 Computacenter Plc 11,828 0.031,046 Consort Medical Plc 11,129 0.031,601 Costain Group Plc 5,620 0.013,281 Countrywide Plc Shs 12,648 0.031,058 Cranswick Plc 22,588 0.055,205 Crest Nicholson

Holdings29,434 0.07

2,877 Croda Intl Plc 87,116 0.213,231 Custodian Reit Shs 3,441 0.01

20,047 D S Smith Plc 81,992 0.19102 Daejan Holdings Plc 5,794 0.01

2,940 Dairy Crest Group Plc 18,301 0.043,667 Davis Service Group 44,004 0.102,337 De La Rue Plc 10,411 0.02

26,160 Debenhams Plc 19,424 0.051,872 Dechra

Pharmaceuticals Plc22,632 0.05

2,131 Derwent London Plc 67,190 0.163,934 Development Securities 7,357 0.023,663 Devro Plc 10,678 0.031,750 Dfs Furniture Plc 5,471 0.01

52,744 Diageo Plc 994,224 2.35954 Dialight Plc 5,457 0.01

1,049 Dignity Plc 25,858 0.062,417 Diploma Plc 17,656 0.04

28,793 Direct Line 106,707 0.252,905 Domino S Pizza Uk & Irl

Plc29,006 0.07

8,662 Drax Group Plc 24,176 0.061,941 Dunelm Group Plc 17,556 0.046,165 E2v Technologies Plc 13,209 0.035,203 Easyjet Plc 79,606 0.19730 Edinburgh Us Tracker

Trust Plc6,461 0.02

9,362 Electrocomponents 22,684 0.059,782 Elementis Plc 23,555 0.06

19,455 Enquest Plc 4,572 0.015,159 Ensure Group 13,945 0.03

10,843 Entreprise Inns Plc 10,328 0.024,082 Equiniti Group Plc 6,317 0.01798 Euromoney Institut.

Investor7,741 0.02

9,334 Evraz 8,298 0.022,291 Exova Group Limited 3,557 0.011,867 Fdm Group (Holdings)

Plc10,558 0.02

5,820 Fenner 7,770 0.024,800 Ferrexpo Plc 1,272 0.00814 Fidessa Group Plc 20,326 0.05

5,559 Filtrona Plc MiltonKeynes

46,195 0.11

2,486 Findel Plc 4,599 0.0125,700 Firstgroup Plc 24,749 0.064,387 Flybe Group 2,775 0.015,540 Foxtons Group Plc 8,989 0.023,598 Fresnillo Plc 34,235 0.08686 Fuller Smith & Turner A 7,210 0.02

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

33,113 G4s Plc 63,345 0.1513,244 Galiform Plc 62,883 0.151,740 Galliford Try Plc 24,986 0.061,775 Game Digital Plc 2,223 0.01655 Games Workshop

Group3,178 0.01

1,292 Genus Plc Hampshire 19,613 0.0536,058 Gkn Plc 105,181 0.25

101,807 Glaxosmithkline Plc 1,435,479 3.408,768 Grainger Plc 19,728 0.057,341 Great Portland Est Plc 53,553 0.13

10,608 Greencoat Uk Wind Plc 11,138 0.036,589 Greene King Plc 57,423 0.142,165 Greggs Plc 23,598 0.062,756 Gulf Marine Services

Plc1,771 0.00

3,933 H. Brammer Plc 6,902 0.024,255 Halfords Group Plc 16,675 0.048,034 Halma Plc 73,310 0.17

16,423 Hammerson Plc 95,007 0.2214,633 Hansteen Holdings Plc 15,511 0.044,594 Hargreaves Lansdown

Plc61,560 0.15

2,845 Hastings GroupHoldings Plc

4,882 0.01

30,052 Hays Plc 36,844 0.091,809 Headlam Group Plc 9,253 0.022,181 Helical Bar Plc 8,402 0.022,099 Henry Boot Plc 4,754 0.012,873 Hikma Pharmaceuticals

Plc56,627 0.13

1,705 Hill & Smith Holdings 15,345 0.041,066 Hilton Food Group Plc 5,330 0.017,251 Hochschild Mining Plc 6,598 0.025,240 Hogg Robinson Group 3,144 0.01

17,520 Home Retail Group Plc 29,101 0.075,427 Homeserve Plc 23,287 0.05

408,674 Hsbc Holdings Plc 1,773,645 4.202,932 Hunting Plc 9,141 0.024,085 Ibstock Plc 8,178 0.02

11,445 Icap Plc 53,769 0.137,753 Ig Group Holdings Plc 61,946 0.155,175 Imagination

Technologies Group9,703 0.02

5,824 Imi Plc 55,736 0.134,841 Impax Environmental

Mkts Plc8,133 0.02

20,174 Imperial TobaccoGroup Plc

779,826 1.85

9,424 Inchcape 67,853 0.1613,767 Indivior Plc 22,743 0.0513,589 Informa Plc 94,715 0.229,380 Inmarsat Plc 90,329 0.214,950 Intercontinental Htl Grp

Plc138,105 0.33

6,952 Intermediate CapitalGroup Plc

42,755 0.10

4,968 International PersonalFi. Plc

14,298 0.03


80

UK Equity Index TrackingPortfolio of Investments as at 31 March 2016 - continued






Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

3,071 Interserve Plc 13,479 0.033,361 Intertek Group Plc 106,846 0.25

10,859 Investec Plc 54,838 0.1311,448 Ip Group Plc 20,080 0.057,634 Ite Group Plc 11,241 0.03

78,393 Itv Plc 188,770 0.451,808 J D Wetherspoon Plc 12,647 0.03

29,572 J.Sainsbury Plc 82,269 0.19933 James Fisher & Sons

Plac12,092 0.03

2,609 Jardine LloydThompson Gr.Plc

21,994 0.05

1,246 Jd Sports Fashion Plc 13,905 0.032,456 Jimmy Choo Plc 3,193 0.017,901 John Laing Group Plc 18,014 0.041,907 John Menzies Plc 9,125 0.024,052 Johnson Matthey Plc 111,308 0.262,040 Johnston Press Plc 836 0.008,890 Jupiter / Ipo 36,538 0.099,215 Just Eat - Shs 34,814 0.085,983 Just Retirement Group

Plc9,214 0.02

5,383 Kazakhmys Limited 9,189 0.0211,265 Kcom Group Plc 12,251 0.031,516 Keller Group 13,038 0.038,726 Kesa Electricals 11,366 0.031,950 Kier Group Plc 25,330 0.06

48,839 Kingfisher Plc 183,928 0.4421,687 Ladbrokes Plc 25,504 0.065,688 Laird Plc 21,620 0.05

16,473 Land Securities GroupPlc

179,226 0.42

5,771 Lavendon Group Plc 7,502 0.02124,342 Legal & General Group

Plc291,831 0.69

19,850 Liberty International Plc 62,647 0.151,337,045 Lloyds Tsb Group Plc 910,929 2.16

2,587 Lms Capital Plc 1,688 0.0012,467 Lon & Stam Pty Shs 19,847 0.055,763 Lonmin Plc 7,377 0.026,783 Lookers Plc 10,941 0.03

11,000 Low & Bonar Plc 6,875 0.026,535 Lse Group 185,594 0.441,774 Lsl Property Services

Plc4,883 0.01

32,695 Man Strategic HoldingsPlc

50,154 0.12

34,456 Marks and Spencer /New

139,340 0.33

4,256 Marshalls Plc 15,092 0.0412,221 Marston S Plc 18,564 0.043,885 Mcbride Plc 6,294 0.014,720 Mccarthy & Stone

Limited12,031 0.03

1,343 Mckay Securities Plc 3,092 0.012,154 Mears Group Plc 8,982 0.02

16,611 Meggitt Plc 68,072 0.16

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

14,860 Merlin EntertainmentsPlc

68,698 0.16

6,530 Michael Page Intl Plc 28,014 0.074,026 Micro Focus

International Plc62,685 0.15

2,561 Millennium & CopthorneHotels

10,587 0.03

5,002 Mitchells & Butlers Plc 13,791 0.037,726 Mitie Group Plc 19,794 0.053,745 Modwen Propert.Plc.St. 11,351 0.037,691 Mondi Plc 102,521 0.249,420 Moneysupermarket.

Com29,908 0.07

6,080 Morgan Crucible Co Plc 13,935 0.03827 Morgan Sindall Plc 6,542 0.02

3,163 Mothercare Plc 5,685 0.0133 Mountview Estates Plc 3,861 0.01

3,180 N Brown Group Plc 10,335 0.024,525 Nanoco Group Plc 1,844 0.009,000 National Express Group

Plc30,843 0.07

78,988 National Grid Plc 782,218 1.856,290 Ncc Group Plc 15,756 0.043,097 New Melrose Industries

Plc11,093 0.03

3,083 Next Plc 168,023 0.401,356 Nmc Health Plc 14,238 0.032,830 Northgate Plc 11,450 0.031,356 Nostrum Oil & Gas Plc 3,329 0.011,331 Novae Group 11,620 0.038,618 Ocado Group 24,923 0.06

102,342 Old Mutual Plc 197,008 0.472,059 Onesavings Bank Plc 6,898 0.02

14,596 Ophir Energy Plc 11,443 0.039,920 Optimal Payments Plc 41,466 0.10

56,376 Oxford Biomedica Ltd 3,129 0.011,322 Oxford Instruments Plc 8,937 0.021,845 P2p Global Investment

Plc Ipo15,968 0.04

6,359 Paragon Group ofCompanies Plc

20,139 0.05

4,709 Partnership AssuranceGrp Shs

5,969 0.01

1,383 Paypoint Plc 10,372 0.0217,027 Pearson Plc 149,838 0.3530,739 Pendragon Plc 11,069 0.038,773 Pennon Group Plc 71,149 0.17810 Perform Group Plc 1,974 0.00

6,405 Persimmon Plc 133,352 0.3261,896 Peter Hambro Mining

Plc4,339 0.01

5,525 Petrofac Ltd 50,333 0.127,791 Pets At Home Group

Plc20,997 0.05

3,998 Photo-Me InternationalPlc

7,216 0.02

3,340 Polypipe Group Plc 10,731 0.033,816 Poundland Group Plc 5,867 0.01


81







Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

9,111 Premier Farnell Plc 10,273 0.0224,209 Premier Foods 14,283 0.0310,641 Premier Oil Plc 4,629 0.019,616 Prim Health /Reit 9,880 0.023,061 Provident Financial 90,422 0.21

53,433 Prudential Plc 692,492 1.644,731 Punch Taverns Plc 4,447 0.011,470 Puretech Health Plc 2,106 0.006,406 Pz Cussons Plc 19,590 0.05

12,750 Qinetic Group Plc 29,223 0.073,556 Rank Group Plc 9,139 0.021,016 Rathbone Brothers Plc 21,438 0.05

13,132 Reckitt BenckiserGroup Plc

881,026 2.09

20,522 Redefine International -Shs

9,592 0.02

4,657 Redrow Plc 18,758 0.0423,428 Reed Elsevier Plc 303,861 0.72

777 Renishaw Plc 14,273 0.035,618 Renold Plc 1,826 0.00

38,631 Rentokil Initial Plc 67,913 0.164,255 Restaurant Group Plc 16,667 0.04

14,663 Rexam Plc 92,230 0.221,152 Ricardo Plc 9,562 0.021,959 Rightmove Plc 82,102 0.19

25,263 Rio Tinto Plc / Reg. 496,671 1.182,712 Rit Capital Partners Plc 44,423 0.111,448 Robert Walters Plc 4,431 0.01

38,502 Rolls Royce Hld 264,316 0.6318,419 Rotork Plc 33,541 0.0866,034 Royal Bank of Scotland

Group146,529 0.35

78,314 Royal Dutch Shell / B 1,335,645 3.1688,062 Royal Dutch Shell Plc /

A1,490,009 3.53

19,067 Royal Mail Plc 91,846 0.226,410 Rpc Group Plc 48,940 0.125,835 Rps Group Plc 12,064 0.03

21,268 Rsa Insurance GroupPlc

100,959 0.24

19,797 Sabmiller Plc 842,362 1.994,412 Safestore Holdings Plc 14,846 0.04

13,038 Saga Plc 25,320 0.0622,554 Sage Grp 141,526 0.332,737 Savills Plc 20,870 0.052,367 Schroders Plc 63,933 0.15

20,677 Scottish & SouthernEnergy Plc

307,881 0.73

2,911 Scottish Amer.Inv.CoGbp 0.25

7,426 0.02

1,779 Sdl Plc 7,303 0.0215,829 Segro Plc / Reit 65,184 0.158,906 Senior Plc 20,475 0.052,883 Sepura Plc 5,651 0.01

23,443 Serco Group Plc 23,701 0.061,450 Servelec Group Plc 5,405 0.016,293 Severfield-Rowen Plc 3,461 0.014,978 Severn Trent Plc 108,222 0.26

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

9,093 Sgcln 23,096 0.055,929 Shaftesbury Plc / Reit 53,954 0.138,471 Shanks Group Plc 6,989 0.022,009 Shawbrook Group Plc 5,987 0.01

11,979 Sig Plc 17,573 0.042,578 Skyepharma Plc 11,472 0.03

18,777 Smith and Nephew Plc 215,184 0.518,353 Smiths Group Plc 89,962 0.215,339 Smiths New Plc 8,449 0.025,150 Soco Intl 8,279 0.021,741 Softcat Plc 5,428 0.013,646 Sophos Group Plc 8,076 0.022,529 Spectris Plc 46,584 0.11

11,366 Speedy Hire Plc 4,234 0.011,556 Spirax-Sarco

Engineering Plc56,576 0.13

5,992 Spire Healthcare GroupPlc

21,571 0.05

13,465 Spirent CommunicationPlc

11,883 0.03

4,169 Sportech Plc 2,658 0.015,365 Sports Direct

International20,162 0.05

10,036 Ssp Group Plc 29,124 0.074,663 St.Ives Plc 10,620 0.03

10,853 St.James S Place Plc 99,956 0.2456,208 Standard Chartered Plc 262,576 0.621,729 Standard Life Europ.

Private Eq3,527 0.01

40,959 Standard Life Ord 145,159 0.342,600 Sthree Plc 8,008 0.023,214 Stock Spirits Group Plc 4,725 0.01645 Supergroup Plc 9,320 0.02

3,593 Svg Capital Plc 18,001 0.0411,210 Talk Talk Telecom

Group Plc26,657 0.06

9,945 Tate & Lyle Plc 57,432 0.1467,651 Taylor Wimpey Plc 128,537 0.30

559 Ted Baker Plc London 15,255 0.041,277 Telecom Plus Plc 11,914 0.03

170,099 Tesco Plc 326,335 0.77910 The Go-Ahead Group

Plc24,288 0.06

810 The Vitec Group Plc 4,605 0.0132,776 Thomas Cook Gp 30,039 0.074,730 Topps Tiles Plc 6,929 0.021,500 Town Centre Securities

Plc4,500 0.01

5,170 Travis Perkins Plc 94,611 0.225,476 Trinity Mirror Plc 7,297 0.023,381 Tt Electronics Plc 5,139 0.014,989 Tullet Prebon Plc 17,571 0.04

19,290 Tullow Oil Plc 37,828 0.093,614 Tyman Plc 10,679 0.031,483 Ultra Electronics Hldgs

Plc26,976 0.06

25,264 Unilever Plc 799,732 1.894,735 Unite Group Plc 30,304 0.07


82







Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

14,277 United Utilities GroupPlc

131,777 0.31

1,089 Value & Income TrustPlc

2,396 0.01

8,632 Vectura Group Plc 14,087 0.032,250 Vedanta Resources Plc 7,592 0.025,809 Vesuvius Plc 19,199 0.051,716 Victrex Plc 28,537 0.074,901 Virgin Money Holdings

(Uk) Plc18,085 0.04

556,315 Vodafone Group Plc 1,229,178 2.918,008 Vpc Specialty Lending

Shs6,927 0.02

4,535 Weir Group Plc 49,885 0.122,373 Wh Smith Plc 43,165 0.103,821 Whitbread Plc 151,273 0.36

18,825 William Hill Plc 61,558 0.152,302 Wincanton Plc 3,545 0.012,644 Wireless Group Plc 4,825 0.01

45,244 Wm MorrisonSupermarkets Plc

91,257 0.22

7,804 Wood Group 47,526 0.112,475 Workspace Gp Reit 19,280 0.05

21,917 Worldpay Group Plc 60,118 0.142,145 Ws Atkins Plc 29,451 0.071,638 Xaar 7,981 0.025,179 Xchanging Plc 9,827 0.025,748 Yule Catto&Co Plc 20,791 0.054,865 Zoopla 12,260 0.03

Guernsey - Guernsey 0.067,553 Bacit Shs 9,895 0.029,223 Raven Russia Plc 2,675 0.014,479 Regional Reit Limited

/Reit4,602 0.01

1,908 Sqn Asset Fin Inc -C-Gbp

1,984 0.00

6,087 Stobart Group Ltd 6,300 0.02

Ireland - Irland 1.6917,062 Crh Plc 336,292 0.801,848 Dcc 113,652 0.274,566 Grafton Group Plc /

Units33,058 0.08

8,671 Greencore Group Plc 32,507 0.08744 Paddy Power Plc 71,840 0.17984 Paddy Power Plc 95,104 0.22

5,300 United Drug Plc 31,005 0.07

Isle of Man - Man Inseln 0.113,796 Exillon Energy 2,771 0.015,623 Lamprell Plc 4,836 0.014,475 Playtech Limited 38,709 0.09

Jersey - Jersey 5.1511,058 Beazley Plc 39,941 0.093,930 Cape 8,882 0.02

23,050 Centamin Shs 20,422 0.05

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

20,386 Experian Plc 253,602 0.60244,163 Glencore Intl 372,715 0.8822,515 Henderson Group Plc 58,314 0.145,478 Polymetal 37,305 0.091,945 Randgold Resources

Ltd123,507 0.29

13,292 Regus Plc 42,335 0.101,528 Sanne Group Plc 5,822 0.01

12,310 Shire Shs 484,029 1.159,364 United Business Media

Ltd56,980 0.13

870 Wizz Air Holdings Plc 16,078 0.045,451 Wolseley Plc 214,933 0.51

27,140 Wpp Plc Shs 441,568 1.05

Luxembourg - Luxemburg 0.0914,513 B&M European Value

Retail Sa.38,401 0.09

Singapore - Singapur 0.01305 Xp Power Ltd 4,859 0.01

Spain - Spanien 0.5138,370 Int Air Group 214,104 0.51

Switzerland - Schweiz 0.154,134 Coca-Cola Hbc 61,721 0.15

Virgin Islands - Virgin Inseln 0.012,326 Gem Diamonds Ltd 2,547 0.01



Great Britain - Großbritannien 2.771,070 A & J Mucklow Group

Plc5,136 0.01

2,334 Aber Gear Inc -Gbp-30.06.17

4,238 0.01

1,124 Aberdeen Asian SmallerCos Inv

8,712 0.02

2,740 Aberdeen New DawnInvest Trust

4,090 0.01

458 Aberdeen New Thai Inv.Tr Plc

1,855 0.00

2,036 Aberforth Smaller CosTrust

20,466 0.05

11,841 Alliance Trust Plc 59,323 0.141,631 Baillie Gifford Japan Tr

/ Dis7,567 0.02

2,382 Bankers Invest.TrustGbp0.25

13,827 0.03

389 Baring EmergingEurope Ordin.

1,966 0.01

2,254 Blackro Great.Eur.Inv.Trust

5,500 0.01


83







Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

1,698 Blackrock Lat.Amer.Inv.

5,378 0.01

1,052 Blackrock Smaller CoTrust Plc

9,152 0.02

4,645 Blackrock Wld MiningTrust Plc

10,097 0.02

2,970 Blkrock Com Inc - Shs /Dist

1,825 0.00

3,213 Br Front Invt 3,374 0.012,069 Br Thrgmrtn — Shs

Gbp6,558 0.02

2,886 Brit.Empire Secur.and.Gral.Tr.

13,377 0.03

6,361 British Assets Trust Plc 7,603 0.02407 Brunner Invest Trust Plc 2,099 0.01698 Caledonia Investments

Plc15,817 0.04

6,665 City of LondonInvestment

24,711 0.06

9,848 Div Inc Trst Gbp-12- 9,196 0.023,324 Dunedin Income Grth

Invest.Tr.7,047 0.02

4,621 Ecofin Water & PowerOpport.

5,083 0.01

4,291 Edinburgh Dragon TrustPlc

10,492 0.03

4,187 Edinburgh InvestmentTrust Plc

27,789 0.07

2,249 Edinburgh Uk TrackerTrust

6,529 0.02

692 Edinburgh WorldwideInv.Trust

2,970 0.01

760 Electra Private EquityPlc

26,278 0.06

9,209 Empiric Stu /Reit 9,992 0.02866 F&C cap. And income

inv.tr.plc2,229 0.01

1,000 F&C Global Small.Companies Plc

9,907 0.02

2,045 F&C Private EquityTrust Plc

4,949 0.01

11,901 Fid China Sp / Gbp 16,102 0.045,494 Fideli Spec Val Gbp 10,224 0.028,919 Fidelity European - Gbp 14,493 0.032,506 Finsbury Growth &

Income Trust15,154 0.04

1,025 Finsbury WorldwidePharmac.Plc

17,425 0.04

897 Foreign & ColonialEurotr.Plc

5,880 0.01

12,060 Foreign & ColonialInvest.Tr.

52,150 0.12

413 Fundsm Emer Eq -Gbp-/Cap

4,020 0.01

398 Gartmore European Inv.Trust

3,848 0.01

844 Gartmore Global TrustPlc

3,204 0.01

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

1,607 Graphite EnterpriseTrust Plc

8,334 0.02

250 Hansa Trust Plc 1,819 0.00441 Henderson Euro Trust

Plc3,805 0.01

2,331 Henderson High IncomeTrust

3,985 0.01

1,653 Henderson SmallerCies Inv.

9,976 0.02

1,561 Henderson Tr PacificInv.Trust

3,204 0.01

1,133 Henderson Value TrustPlc

2,386 0.01

1,710 Herald Invest Trust Plc 11,628 0.03740 Hgcapital Trust Plc 8,591 0.02869 Intl Biotechnology Trust

Plc3,620 0.01

2,517 Invesco Asia Trust 4,655 0.011,249 Invesco Income Growth

Trust3,247 0.01

876 Invesco Perpetual UkSmaller

3,186 0.01

2,323 Jp Morgan IndianInvestment

11,749 0.03

3,552 Jp Morgan JapaneseInves.Trust

9,839 0.02

495 Jp Morgan Mid CapInvestm.Trst

4,604 0.01

509 Jpm / Sm.Cies Inv.Trust Plc

4,209 0.01

5,871 Jpm Amer Inv Trust -Gbp

17,087 0.04

3,520 Jpm Eur Sm Co Gbp 9,567 0.028,586 Jpm Gl Em Mkt Income

Gbp / Dis8,025 0.02

2,530 Jpm Overseas Gbp 5,080 0.012,103 Jpmorgan Asian

Investm. Trust4,548 0.01

1,208 Jpmorgan ClaverhouseInv.Tr.

6,680 0.02

2,756 Jpmorgan Emerg.Mark.Inv.Tr.

15,829 0.04

1,947 Jpmorgan Europ.Inv. /Growth Cl.

4,494 0.01

2,229 Jpmorgan Jp SmComps Trust Plc

6,085 0.01

1,788 Jpmorgan RussianSecurities

5,947 0.01

2,682 Jupiter EuropeanOpport.Trust

14,317 0.03

326 Keystone InvestmentTrust Plc

5,395 0.01

2,324 Law Debenture CorpPlc

10,690 0.03

591 Lowland Investment Co 7,594 0.022,247 Martin Currie Ptf Inv

Trust4,050 0.01

2,415 Merchants Trust Plc 9,610 0.02


84







Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

4,566 Monks Investment TrustPlc

18,899 0.05

678 Montanaro Uk Sml / Dis 3,186 0.011,483 Murray Income Trust

Plc9,598 0.02

2,718 Murray InternationalTrust Plc

24,027 0.06

1,260 New India InvestmentTrust Plc

4,007 0.01

220 North Atlantic SmallerCo Tr

5,242 0.01

1,831 Pacific Assets Trust Plc 3,520 0.01734 Pantheon Intl Particip.

Plc9,091 0.02

5,055 Perpetual Inc&GwthInvest Tr.

18,860 0.04

27 Personal Assets TrustPlc

9,979 0.02

2,602 Polar Cap Gl Health G&I/Dis

4,205 0.01

3,710 Polar Cap Glob Fin Gbp 3,454 0.013,728 Schroder Asiapacific Fd

Plc10,078 0.02

1,402 Schroder IncomeGrowth Fd Plc

3,360 0.01

2,666 Schroder Japan GrowthFund Plc

3,692 0.01

3,433 Schroder Uk GrowthFund

5,160 0.01

772 Schroder Uk Mid CapFd/Gbp

3,335 0.01

27,477 Scott Mort Inv Trst -Gbp

71,688 0.17

2,278 Scottish InvestmentTrust Plc

13,645 0.03

695 Scottish OrientalSmaller Comp

5,223 0.01

3,123 Securit.Trust ScotlandRed Shs

4,169 0.01

1,795 Standard Lif.Uk Smal.Com.Trust

6,039 0.01

864 Standard Life EquityInc.Trust

3,645 0.01

1,382 Temple Bar InvestmentTrust

13,917 0.03

6,648 Templeton EmergingMarkets Inv

29,883 0.07

2,054 The Mercantile Inv.Trust Plc

34,084 0.08

2,825 The Polar CapitalTechnolo.Tr

16,241 0.04

1,069 Tr European GrowthTrust Plc

6,672 0.02

6,821 Tr Property InvestmentTrust

20,164 0.05

15,508 Tritax Big Box Reit Plc/Reit

20,858 0.05

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

5,344 Troy Incone Growth-Gbp- /Dis

3,871 0.01

4,185 Witan Investment TrustPlc

30,948 0.07

1,160 Witan PacificInvestment Trust

2,646 0.01

17,267 Woodfor Pat Cap Gbp /Dis

16,280 0.04

Guernsey - Guernsey 0.741,500 Advance Developing

Mkt Gbp / Dis6,090 0.01

20,528 Babcock & Brown Plubl.Partnsh

29,417 0.07

598 Bh Global Limited NpvGbp

7,420 0.02

770 Bh Macro Ltd / GbpClass-

15,369 0.04

2,616 Bluecrest Allblue FundLtd / Gbp

4,792 0.01

6,119 Bluef Sol Inc Gbp Dis 6,119 0.0111,260 F&C Commercial Pty

Trust Ltd14,683 0.04

5,379 F&C Uk Rl Es In GbpShs

5,241 0.01

2,880 Genesis EmergingMarkets / Dis

14,020 0.03

28,599 Hsbc Infrastucture Cos 45,587 0.118,343 Ing Uk Real Estate

Income Tr5,861 0.01

11,397 Invista FoundationProp.Trust

6,895 0.02

3,444 Jhn Lai Env Ass-Gbp/Dis

3,423 0.01

15,207 John Laing Infra -Gbp- /Dis

18,370 0.04

4,813 Jpm Gl Con In -Gbp/Dist 4,332 0.0111,943 Medicx Fund Ltd 10,420 0.0326,130 Nb Glb Flot Rteredgbp /

Dis23,543 0.06

5,280 Nextenergy Sol Red.Ptg Gbp/Dis

5,162 0.01

13,874 Renewables Infr Grp-Gbp-

14,151 0.03

1,043 River Energy Acc Gbp 8,500 0.024,723 Ruffer Invest Co / Dis 9,535 0.024,802 Schroder Oriental

Income Fund8,932 0.02

5,960 Sequ Econ Infra Gbp 6,347 0.023,817 Sqn Ass Fin Inc Gbp 4,161 0.016,080 Standard Life Inv.Prop.

Income5,259 0.01

5,230 Starwood European ReFin -Gbp-

5,539 0.01

9,011 Twentyfour Income FdGbp Dis

9,642 0.02

3,680 Twentyfour Sel Mtly Inc17.2.15

3,245 0.01


85







Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

12,687 Uk Commercial PropReit

10,606 0.03

Ireland - Irland 0.26110,310 Swip Sterling Liq -Adv- 110,310 0.26

Isle of Man - Man Inseln 0.021,401 The Biotech Growth

Trust Plc8,258 0.02

Jersey - Jersey 0.2311,343 3i Infrastruct Gbp 19,703 0.054,589 Aberdeen Asian Income

Fund7,399 0.02

153 City Mer Hig-Shs Gbp 270 0.007,440 Cqs New Ci Hi Shs

Gbp/Dis4,129 0.01

5,759 Cvc Cred Ptr Opp-Gbp-/Dis

5,522 0.01

5,362 Foresight Solar FundGbp/Dis

5,235 0.01

12,287 Gcp Infra Invest Gbp Dis 14,451 0.032,355 Henderson Far East

Income6,653 0.02

2,512 Ken Wil Eur Re - Gbp 29,491 0.073,540 Middlefield Canadian

Income2,637 0.01

Luxembourg - Luxemburg 0.039,733 Bilfinger Berger Gl Infra

Ord12,864 0.03



Bermuda Islands - Bermudas 0.001,454 Right Utilico Eme

31.01.18240 0.00



Guernsey - Guernsey 0.041,739 Hv Gbl Priv A Usd/Dis 15,825 0.04

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Great Britain - Großbritannien 0.021,990 Carr S Milling Industries

Plc3,085 0.01

954 Mj Gleeson Plc 5,676 0.01



Great Britain - Großbritannien 0.00101 Right Jpm Sma Com

30.06.1725 0.00

961 Right Prim Health12.04.16

27 0.00


41,932,501 99.27


308,566 0.73


42,241,067 100.00


86







UK Equity Index Tracking



SectorSektor


Petrol - Treibstoff 10.27Banks and financial institutions - Banken,Kreditinstitute 9.31Tobacco and spirits - Tabak undalkoholische Getranke 8.15News transmission -Nachrichtenubertragung 6.40Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 6.27Insurance - Versicherungen 5.34Holding and finance companies - Holding-und Finanzgesellschaften 4.65Investment funds - Investmentfonds 4.38Public services - Energie undWasserversorgung 4.00Construction, building materials - Bau,Baustoffe 3.84Retail - Einzelhandel und Warenhauser 3.59Leisure - Freizeit 3.50Food and distilleries - Nahrungsmittel,alkoholische Getranke 3.40Graphic art, publishing - Grafik undVerlage 2.65Aerospace technology - Luft- undRaumfahrttechnologie 2.60Real estate companies - Immobilien 2.43Consumer goods - Konsumguter 2.18Non-ferrous metals - Nichteisenmetalle 1.78Mines, heavy industries - Kohlebergbau,Schwerindustrie 1.46Mechanics, machinery - Maschinen- undApparatebau 1.45Other services - SonstigeDienstleistungen 1.38Electronic semiconductor - Halbleiter 1.27Biotechnology - Biotechnologie 1.16Internet software - Internet, Software 1.16Other business houses - SonstigeHandelshauser 1.11Miscellaneous - Andere 0.96Textile - Textil- und Bekleidungsindustrie 0.72Transportation - Verkehr und Transport 0.72Healthcare, education and socialservices - Gesundheitsversorgung,Bildung und soziale Einrichtungen 0.71Forest products and paper industry -Papier und Holz 0.57Package and container industry -Verpackungsindustrie 0.54Chemicals - Chemie 0.39Precious metals - Edelmetalle 0.27Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 0.24Various capital goods - VerschiedeneProduktionsguter 0.17Agriculture and fishing - Landwirtschaftund Fischerei 0.06Environmental services & recycling -Umwelt und Recycling 0.05Automobile industry - Automobilindustrie 0.04

SectorSektor


Electronics and electrical equipment -Elektrotechnik und Elektronik 0.03Photography and optics - Foto und Optik 0.03Office equipment, computers -Buroausstattung, Computer 0.02Tyres & rubber - Gummi und Reifen 0.02


99.27


0.73


100.00


87




US Equity Index TrackingPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Bermuda Islands - Bermudas 0.131,632 Invesco Ltd 51,016 0.07321 Signet Jewelers Ltd 38,417 0.06

Great Britain - Großbritannien 0.271,079 Aon Plc 112,173 0.161,396 Nielsen Holdings Plc 73,709 0.11

Ireland - Irland 2.262,409 Accenture Plc 277,926 0.40346 Allegion Plc 22,089 0.03

1,479 Allergan Plc 406,636 0.581,734 Eaton Corporation

Public Ltd108,808 0.16

793 Endo International - Shs 22,561 0.031,038 Ingersoll-Rand Plc Shs 64,429 0.09426 Mallinckrodt Plc 25,522 0.04

5,389 Medtronic HoldingsLimited

406,438 0.58

702 Pentair Plc 37,957 0.061,150 Seagate Technologie

Plc39,296 0.06

1,605 Tyco International Plc 58,775 0.08531 Willis Towers Wats Npv 63,051 0.09

1,121 Xl Group 41,354 0.06

Jersey - Jersey 0.121,082 Delphi Automotive Plc 81,053 0.12

Liberia - Liberia 0.07598 Royal Caribbean

Cruises Ltd48,049 0.07

Netherlands - Niederlande 0.281,419 Lyondellbasell Ind Nv A 121,892 0.181,572 Mylan Nv 72,941 0.10

Netherlands Antilles - Niederlandische Antillen 0.514,819 Schlumberger Ltd 358,582 0.51

Panama - Panama 0.131,763 Carnival Corp 92,328 0.13

Singapore - Singapur 0.331,486 Broadcom Limited 233,198 0.33

Switzerland - Schweiz 0.481,781 Ace Ltd 213,257 0.31394 Garmin 15,705 0.02

1,537 Te Connectivity / RegShs

94,033 0.13

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

1,311 Transocean Ltd 11,655 0.02

United States - Vereinigte Staaten 94.534,649 21st Century -Shs A

*Opa*129,754 0.19

1,660 21st Century B 46,812 0.072,379 3m Co 396,698 0.575,707 Abbott Laboratories Inc 237,697 0.346,303 Abbvie Inc 359,271 0.521,967 Activision Blizzard Inc 67,016 0.101,894 Adobe Systems Inc 177,619 0.26647 Adt Corporation 26,721 0.04287 Advance Auto Parts Inc 47,008 0.07

2,735 Aes Corp. 31,781 0.051,327 Aetna Inc 151,530 0.22214 Affiliated Managers


1,640 Aflac Inc. 104,517 0.151,122 Agilent Technologies 45,015 0.06449 Agl Resources Inc 29,149 0.04

4,398 Aig 239,779 0.34742 Air Products &

Chemicals107,776 0.15

288 Airgas Inc. 40,853 0.06680 Akamai Technologies

Inc37,468 0.05

4,987 Alcoa Inc 48,274 0.07863 Alexion

Pharmaceuticals Inc116,350 0.17

242 Alliance Data SystemCorp

52,262 0.08

1,525 Allstate Corp 103,273 0.151,099 Alphabet Inc A 844,406 1.211,126 Alphabet Inc C 845,097 1.217,466 Altria Group 467,222 0.671,465 Amazon Com Inc 877,081 1.26812 Ameren Corp 40,397 0.06

2,558 American AirlinesGroup Inc

105,850 0.15

1,867 American ElectricPower Co.Inc

123,259 0.18

3,241 American Express Co. 195,400 0.281,626 American Tower Corp 166,356 0.24677 American Water Works

Co Inc46,449 0.07

679 Ameriprise Financial Inc 64,892 0.09803 Amerisourcebergen

Corp69,933 0.10

957 Ametek Inc 48,156 0.072,887 Amgen Inc. 431,549 0.621,177 Amphenol Corporation

A67,925 0.10

1,895 Anadarko Petrol.Corp. 87,909 0.131,190 Analog Devices Inc 70,341 0.10996 Anthem Inc 139,410 0.20

1,396 Apache Corp. 67,901 0.10480 Apartment Inv.&

Manag. A20,002 0.03

21,336 Apple Inc 2,337,572 3.35


88





Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

4,559 Applied Materials Inc 95,921 0.142,319 Archer-Daniels Midland

Co.84,922 0.12

254 Assurant Inc 19,903 0.0323,422 At&T 922,124 1.32

926 Autodesk Inc. 53,615 0.081,770 Automatic Data Proces. 157,796 0.23298 Autonation Inc 14,295 0.02116 Autozone Inc 93,092 0.13508 Avalonbay Communities

Inc.95,926 0.14

350 Avery Dennison Corp 25,340 0.041,615 Baker Hughes Inc 70,043 0.10529 Ball Corp. 37,506 0.05

39,990 Bank of America Corp 539,065 0.774,287 Bank of Ny Mellon Corp

Shs159,219 0.23

284 Bard (C.R.) Inc 57,618 0.082,620 Baxalta Incorporated 105,193 0.151,999 Baxter Intl Inc. 82,479 0.122,968 Bb&T Corporation 99,517 0.14791 Becton Dickinson & Co. 120,659 0.17646 Bed Bath & Beyond Inc. 32,035 0.05

7,134 Berkshire Hathaway B 1,016,310 1.461,169 Best Buy Co Inc. 36,905 0.05895 Biogen Idec Inc 227,491 0.33488 Blackrock Inc 166,589 0.24898 Block Inc. H&R 23,716 0.03

2,432 Boeing Co 312,707 0.45862 Borg Warner Inc 32,687 0.05590 Boston Properties 74,765 0.11

5,120 Boston Scientific Corp. 96,358 0.146,397 Bristol Myers Squibb

Co405,826 0.58

398 Brown-Forman Corp. B/ Non-Vot.

39,215 0.06

563 C.H.RobinsonWorldwide Inc

41,972 0.06

915 Cablevision SystemsCorp / A

30,195 0.04

1,642 Cabot Oil&Gas Inc. / Cl. 37,290 0.05275 California Resources

Corp289 0.00

729 Cameron InternationalCorp

49,339 0.07

709 Campbell Soup Co. 45,489 0.072,065 Capital One Financial

Corp.142,795 0.20

1,247 Cardinal Health Inc. 101,980 0.15792 Carmax 40,242 0.06

2,240 Caterpillar Inc. 171,382 0.25952 Cbre Group A 27,313 0.04

1,761 Cbs Corp B 96,168 0.143,010 Celgene Corp. 297,388 0.43675 Centene Corp. De 42,161 0.06

1,660 Centerpoint Energy Inc 34,611 0.052,220 Centurytel 70,751 0.101,152 Cerner Corp 60,733 0.09

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

920 Cf Industries HoldingsInc

29,422 0.04

4,558 Charles Schwab Corp 128,399 0.181,908 Chesapeake Energy 7,651 0.017,165 Chevron Corporation 682,466 0.98115 Chipotle Mexican Grill

Inc53,607 0.08

512 Church & Dwight Co Inc 47,165 0.07980 Cigna Corp. 134,711 0.19337 Cimarex Energy Co /

When Issued32,541 0.05

611 Cincinnati FinancialCorp

40,247 0.06

375 Cintas 33,649 0.0519,366 Cisco Systems Inc. 551,156 0.7911,461 Citigroup Inc 479,987 0.691,915 Citizens Financial Group

Inc40,694 0.06

612 Citrix Systems Inc 47,607 0.07490 Clorox Co 62,705 0.09

1,286 Cme Group Inc 122,903 0.181,053 Cms Energy Corp. 44,458 0.06928 Coach Inc 37,417 0.05

14,985 Coca-Cola Co. 698,001 1.00803 Coca-Cola Enterprises

Inc41,025 0.06

2,274 Cognizant TechnologySol.Corp

142,011 0.20

3,427 Colgate-Palmolive Co. 242,357 0.35992 Columbia Pipeline


9,453 Comcast Corp / A 574,742 0.82677 Comerica Inc. 25,882 0.04

1,257 Computer AssociatesIntl Inc

38,829 0.06

1,596 Conagra Foods Inc 71,740 0.10505 Concho Resources Inc 51,485 0.07

4,739 Conocophillips 189,939 0.271,149 Consolidated Edison Inc 87,876 0.13646 Constellation Brand A 97,934 0.14

4,668 Corning Inc. 97,281 0.141,693 Costco Wholesale Corp 266,817 0.381,285 Crown Castle Intl Shs 111,705 0.16527 Csra Inc 14,329 0.02

3,812 Csx Corp. 100,256 0.14633 Cummins Inc 69,193 0.10

4,244 Cvs Caremark Corp 441,588 0.632,264 Danaher Corp 215,148 0.31434 Darden Restaurants 28,896 0.04648 Davita Inc 47,323 0.07

1,187 Deere & Co. 95,102 0.143,014 Delta Air Lines 148,681 0.21930 Dentsply Sirona Inc 57,716 0.08

1,376 Devon Energy Corp.(New)

36,051 0.05

331 Diamond OffshoreDrilling

7,077 0.01

1,658 Discover Fin Svc 83,331 0.12569 Discovery Com Inc / A 15,983 0.02


89

US Equity Index TrackingPortfolio of Investments as at 31 March 2016 - continued






Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

903 Discovery Com Inc /-C- 24,056 0.031,168 Dollar General


894 Dollar Tree Inc 74,381 0.112,218 Dominion Resources

Inc165,796 0.24

596 Dover Corp. 38,341 0.064,313 Dow Chemical Co. 222,033 0.321,134 Dr Horton Inc 34,213 0.05727 Dr Pepper Snapple


664 Dte Energy Company 60,238 0.093,484 Du Pont De Nem.& Co /

E.I.223,568 0.32

2,652 Duke Energy 213,088 0.31138 Dun and Bradstreet

Corp14,286 0.02

1,111 E Trade Financial Corp 27,397 0.04566 Eastman Chemical Co 41,471 0.06

4,252 Ebay Inc 102,218 0.15963 Ecolab Inc. 108,260 0.16

1,193 Edison International 85,419 0.12818 Edwards Lifesciences 72,712 0.10

1,187 Electronic Arts 78,829 0.117,329 Emc Corp 195,684 0.282,502 Emerson Electric Co. 136,509 0.20648 Entergy Corp. 51,341 0.07

2,051 Eog Resources Inc. 151,077 0.22580 Eqt 38,471 0.06450 Equifax Inc 51,255 0.07228 Equinix Inc / Reit 74,809 0.11

1,400 Equity Residential Sbi 104,790 0.15235 Essex Property Trust 54,602 0.08788 Estee Lauder Cos A 74,403 0.11

1,220 Eversource Energy 71,236 0.103,281 Exelon Corp 116,246 0.17338 Expedia Inc Del 36,436 0.05770 Expeditors Intl Wash. 37,507 0.05

2,604 Express ScriptsHolding Co

179,806 0.26

480 Extra Space StorageInc

44,405 0.06

15,876 Exxon Mobil Corp 1,341,840 1.93225 F5 Networks Inc. 23,731 0.03

8,826 Facebook Inc A 1,012,342 1.451,026 Fastenal 50,202 0.07273 Fed.Realty Inv.Tr./Sbi 42,572 0.06

1,014 Fedex Corp. 163,832 0.241,010 Fidelity National Inform

Serv63,812 0.09

3,016 Fifth Third Bancorp 50,880 0.07192 First Solar Inc 13,242 0.02

1,609 Firstenergy Corp 57,586 0.08919 Fiserv Inc. 93,812 0.13576 Flir Systems 19,457 0.03512 Flowserve Corp 22,548 0.03615 Fluor Corp 33,431 0.05576 Fmc Corp. 23,777 0.03

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

960 Fmc Technologies Inc 26,006 0.0414,839 Ford Motor Co 198,101 0.281,530 Franklin Resources Inc. 59,884 0.094,329 Freeport Mcmoran

Copper & Gold44,545 0.06

3,890 FrontierCommunications Co

21,901 0.03

406 Gamestop Corp A 12,895 0.02906 Gap Inc. 26,872 0.04

1,155 General Dynamics Corp 152,148 0.2235,799 General Electric Co 1,139,482 1.642,226 General Growth

Properties Inc65,689 0.09

2,280 General Mills Inc 144,347 0.215,488 General Motors 170,073 0.24577 Genuine Parts Co 57,192 0.08

5,226 Gilead Sciences Inc. 480,635 0.691,533 Goldman Sachs Group

Inc.239,914 0.34

1,025 Goodyear Tire &Rubber

33,589 0.05

221 Grainger Inc.Ww 51,604 0.073,255 Halliburton Co 117,245 0.171,544 Hanesbrands Inc 43,973 0.06817 Harley Davidson Inc. 40,425 0.06288 Harman Intl Industries

Inc25,059 0.04

510 Harris Corp. 40,142 0.061,606 Hartford Fin.Serv.

Group74,374 0.11

428 Hasbro Inc. 33,619 0.051,217 Hca Holdings Inc 95,048 0.141,603 Hcp Inc 52,001 0.07384 Helmerich & Payne 22,391 0.03327 Henry Schein Inc. 56,528 0.08935 Hess Corp 47,657 0.07

6,995 Hewlett Packard Ent Co 125,141 0.18952 Hologic Inc 32,844 0.05

4,890 Home Depot Inc. 652,424 0.942,977 Honeywell International

Inc.333,930 0.48

1,026 Hormel FoodsCorporati

45,093 0.06

2,581 Host Hotels & ResortsInc

42,483 0.06

6,995 Hp Inc 86,039 0.12576 Humana Inc. 106,497 0.15361 Hunt J.B..Transp.Serv. 30,375 0.04

2,881 Huntington BancsharesInc.

27,629 0.04

3,431 Ibm Corp 509,195 0.731,255 Illinois Tool Works 128,801 0.18562 Illumina Inc 88,476 0.13

18,187 Intel Corp. 594,897 0.85431 Interconexch Gr 100,514 0.14

1,576 International Paper Co 64,616 0.091,563 Interpublic Group 35,761 0.05294 Intl Flavors & Fragr. 33,687 0.05


90







Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

1,068 Intuit 110,196 0.16141 Intuitive Surgical Inc 84,357 0.12731 Iron Mountain Reit Inc /

Reit24,569 0.04

487 Jacobs Engineer.Group 21,316 0.03471 Jm Smucker Co 61,315 0.09

10,544 Johnson & Johnson 1,149,085 1.652,545 Johnson Controls Inc. 98,950 0.14

14,082 Jpmorgan Chase & Co 840,836 1.211,394 Juniper Networks Inc. 35,561 0.05452 Kansas City Southern 38,782 0.06969 Kellogg Co 74,448 0.11

3,459 Keycorp 38,568 0.061,387 Kimberly Clark Corp 188,230 0.271,506 Kimco Realty Corp. 43,162 0.066,844 Kinder Morgan Inc 122,234 0.18600 Kla Tencor Corporation 43,536 0.06777 Kohl S Corp. 35,781 0.05

3,699 Kroger Co. 140,895 0.20978 L Brands Inc 86,426 0.12318 L-3 Communications

Hlds Inc38,163 0.05

383 Laboratory Corp ofAmer.Hld

45,137 0.06

613 Lam Research Corp 50,382 0.07418 Legg Mason Inc. 14,475 0.02521 Leggett & Platt Inc. 24,982 0.04592 Lennar Corp. A 28,304 0.04

1,213 Leucadia NationalCorp.

19,323 0.03

1,079 Level 3Communications Inc

57,014 0.08

3,715 Lilly (Eli) & Co 266,663 0.38956 Lincoln National Corp. 38,211 0.05846 Linear Technology 37,884 0.05998 Lockheed Martin Corp 222,514 0.32

1,092 Loews Corp 42,097 0.063,523 Lowe S Companies Inc. 267,818 0.38664 M&T Bank Corporation 74,348 0.11528 Macerich 41,733 0.06

1,264 Macy S 55,742 0.082,654 Marathon Oil Corp. 27,947 0.042,102 Marathon Petroleum


798 Marriott Intl Inc. A 57,097 0.082,018 Marsh & Mc-Lennan

Cos Inc122,573 0.18

240 Martin MariettaMaterials Inc.

37,159 0.05

1,156 Masco Corp. 36,530 0.053,832 Mastercard Inc. A 359,480 0.521,401 Mattel Inc. 47,060 0.07456 Mc-Cormick&Co / N.

Voting45,486 0.07

3,586 Mcdonald S Corp. 451,226 0.651,011 Mcgraw Hill Companies

Inc100,028 0.14

885 Mckesson Corp 139,591 0.20

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

752 Mead Johnson A 63,912 0.0910,725 Merck 570,784 0.824,300 Metlife Inc 192,339 0.28794 Microchip Technology

Inc.38,779 0.06

4,146 Micron Technology Inc 43,450 0.0630,455 Microsoft Corp 1,676,548 2.41

227 Mohawk Industries 43,384 0.06557 Molson Coors Brew B

Non-Vot53,511 0.08

6,098 Mondelez InternationalInc Wi

246,725 0.35

1,781 Monsanto Co 162,231 0.23563 Monster Beverage

Corp75,949 0.11

684 Moody S Corp 65,568 0.095,809 Morgan Stanley 145,632 0.211,275 Mosaic Co 35,853 0.05612 Motorola Soltn / Ex-

Distr45,833 0.07

618 Murphy Oil Corp. 15,092 0.02432 Nasdaq Omx Group Inc 28,153 0.04

1,461 National Oilwell VarcoInc

45,437 0.07

1,424 Navient Corp 17,045 0.021,143 Netapp Inc 30,472 0.041,622 Netflix Inc 165,752 0.241,020 Newell Rubbermaid Inc. 45,257 0.06525 Newfield Exploration Co 17,147 0.02

1,820 Newmont Mining Corp. 48,685 0.071,451 News Corporation A 18,500 0.031,752 Nextera Energy 207,612 0.305,162 Nike Inc B 320,250 0.46992 Nisource Inc 23,203 0.03

1,618 Noble Energy 49,802 0.07563 Nordstrom Inc 32,373 0.05

1,183 Norfolk Southern Corp. 100,259 0.14833 Northern Trust Corp 54,545 0.08714 Northrop Grumman

Corp141,893 0.20

1,056 Nrg Energy Inc *Ope* 13,665 0.021,238 Nucor Corp. 59,808 0.091,950 Nvidia Corp. 69,732 0.10379 O Reilly Automotive Inc 104,847 0.15

2,938 Occidental PetroleumCorp

201,547 0.29

925 Omnicom Group Inc. 77,071 0.11768 Oneok Inc 22,303 0.03

12,327 Oracle Corp 505,037 0.72672 Owens-Illinois Inc. 10,577 0.02

1,364 Paccar Inc. 74,433 0.11527 Parker-Hannifin 58,492 0.08330 Patterson Companies

Inc15,282 0.02

1,224 Paychex Inc. 65,227 0.094,252 Paypal Holdings Inc 165,998 0.241,270 People S United

Financial Inc20,434 0.03


91







Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

5,594 Pepsico Inc 574,448 0.82469 Perkinelmer Inc 23,140 0.03

23,529 Pfizer Inc. 707,517 1.021,833 Pg&E Corp (Holding Co) 108,954 0.165,899 Philip Morris Int. 582,172 0.841,843 Phillips 66 - Shs 161,484 0.23297 Phillips-Van Heusen

Corp29,379 0.04

401 Pinnacle West Cap.Corp.

29,951 0.04

573 Pioneer NaturalResourc.

80,455 0.12

781 Pitney Bowes Inc 16,573 0.021,956 Pnc Financial Services

Group166,945 0.24

221 Polo Ralph Lauren 21,419 0.031,031 Ppg Industries Inc. 115,369 0.172,551 Ppl Corp 96,173 0.141,091 Praxair 125,465 0.18193 Priceline Com Inc 254,187 0.36

1,044 Principal FinancialGroup Inc

41,520 0.06

10,329 Procter & Gamble Co. 854,002 1.232,045 Progressive Corp 71,636 0.101,971 Prologis Inc 86,074 0.121,733 Prudential Financial Inc 126,422 0.181,926 Publ.Serv.Enterprise 89,636 0.13559 Public Storage Inc. 152,724 0.22

1,222 Pulte Homes Inc 22,497 0.03569 Qorvo Inc 29,150 0.04

5,983 Qualcomm Inc. 305,073 0.44768 Quanta Services Inc 17,372 0.02596 Quest Diagnostics Inc. 43,067 0.06709 Range Resources 22,943 0.03

1,156 Raytheon Company 143,067 0.21699 Red Hat Inc 51,754 0.07284 Regeneron Pharma.

Inc.102,149 0.15

4,538 Regions Financial Corp 35,850 0.05965 Republic Services Inc. 46,658 0.07

3,206 Reynolds American Inc 161,839 0.23512 Robert Half Intl Inc. 23,475 0.03511 Rockwell Automation 58,433 0.08502 Rockwell Collins 46,440 0.07384 Roper Industries 69,892 0.10

1,606 Ross Stores Inc. 93,694 0.13192 Ryder System Inc. 12,374 0.02

2,329 Salesforce Com Inc 173,045 0.25798 Sandisk Corp 60,608 0.09480 Scana Corporation 33,360 0.05355 Scripps Networks

Interactive Inc23,015 0.03

809 Sealed Air Corp 38,856 0.06916 Sempra Energy 94,779 0.14315 Sherwin-Williams Co. 89,595 0.13

1,178 Simon Property /Paired Shs

242,350 0.35

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

730 Skyworks Solutions Inc*Opa*

56,831 0.08

391 SL Green RealtyCorporation

37,481 0.05

224 Snap-On Inc 35,513 0.053,502 Southern Co. 179,337 0.262,511 Southwest Airlines Co 112,945 0.161,324 Southwestern Energy

Co10,195 0.01

2,402 Spectra Energy Corp*Opa*

73,381 0.11

1,089 St Jude Medical Inc 59,949 0.09584 Stanley Black & Decker

Inc61,419 0.09

2,574 Staples Inc 28,340 0.045,652 Starbucks Corp. 339,177 0.49649 Starwood Hotels

Resorts Ww54,295 0.08

1,587 State Street Corp 92,871 0.13283 Stericycle Inc 35,567 0.05

1,204 Stryker Corp. 128,888 0.182,021 Suntrust Banks Inc. 73,746 0.112,692 Symantec Corp. 49,479 0.073,314 Synchrony Financial 94,051 0.132,107 Sysco Corp. 98,249 0.141,023 T Rowe Price Group

Inc.75,600 0.11

2,385 Target Corp 199,386 0.29810 Teco Energy Inc. 22,299 0.03768 Tegna Inc 18,202 0.03431 Tenet Healthcare 12,469 0.02657 Teradata 17,154 0.02469 Tesoro Corp. 40,554 0.06

3,908 Texas Instruments Inc 228,110 0.33960 Textron Inc. 34,867 0.05556 The Hershey Co 51,069 0.07

2,263 The Kraft HeinzCompany

178,551 0.26

1,488 Thermo FisherScientific Inc

209,496 0.30

427 Tiffany & Co 30,996 0.043,106 Time Warner 224,129 0.321,078 Time Warner Cable 221,842 0.322,568 Tjx Cos Inc. 202,050 0.29443 Torchmark Corp. 24,276 0.03644 Total System Services

Inc30,107 0.04

544 Tractor Supply Co 49,341 0.071,185 Travelers Companies

Inc139,155 0.20

429 Tripadvisor Inc 28,563 0.041,158 Tyson Foods Inc. A 78,234 0.111,013 Udr Inc /Reit 38,747 0.06685 Under Armour Inc A 58,663 0.08

3,304 Union Pacific Corp. 266,170 0.381,444 United Continental

Holdings86,380 0.12

370 United Rentals Inc.. 23,232 0.03


92







Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

3,099 United TechnologiesCorp

310,675 0.45

3,631 Unitedhealth Group Inc 470,868 0.68353 Univ.Health Serv.Inc B 44,241 0.06

1,038 Unum Group 32,479 0.05480 Urban Outfitters Inc. 15,859 0.02

6,346 Us Bancorp 260,123 0.372,674 Utd Parcel Service Inc

B282,722 0.41

1,893 Valero Ener. Corp 121,114 0.17376 Varian Medical Systems

Inc30,005 0.04

1,273 Ventas Inc. 80,148 0.12369 Verisign Inc 33,059 0.05565 Verisk Anlytcs 44,482 0.06

15,481 VerizonCommunications Inc

836,593 1.20

923 Vertex Pharmaceuticals 72,363 0.101,222 Vf Corp 79,723 0.111,323 Viacom Inc B 53,066 0.087,432 Visa Inc A 570,629 0.82627 Vornado Real.Trust 58,919 0.08507 Vulcan Materials Co

(Hold. Co)53,483 0.08

6,009 Wal-Mart Stores Inc 413,419 0.593,356 Walgreens Boots

Alliance Inc280,662 0.40

5,913 Walt Disney / DisneySer.

584,855 0.84

1,602 Waste ManagementInc.

95,527 0.14

313 Waters Corporation 41,366 0.061,230 Wec Energy Group Inc 73,320 0.11

17,788 Wells Fargo & Co 865,386 1.241,345 Welltower Inc /Reit 92,644 0.13836 Western Digital Corp. 38,573 0.06

2,007 Western UnionCompany

38,795 0.06

1,005 Westrock Co 38,441 0.063,078 Weyerhaeuser Co 95,572 0.14288 Whirlpool Corp. 51,077 0.07

1,388 Whole Foods MarketInc.

44,236 0.06

2,598 Williams Companies Inc 40,685 0.06450 Wyndham Worldwide

Corp34,385 0.05

288 Wynn Resorts Ltd 27,069 0.041,931 Xcel Energy Inc 80,252 0.124,023 Xerox Corp. 43,569 0.061,014 Xilinx Inc. 48,540 0.07691 Xylem Inc 28,359 0.04

3,298 Yahoo Inc 120,575 0.171,661 Yum Brands 136,617 0.20644 Zimmer Holdings Inc 68,715 0.10777 Zions Bancorp 19,138 0.03

1,748 Zoetis Inc A 76,947 0.11

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

Virgin Islands - Virgin Inseln 0.05679 Michael Kors Holdings

Ltd38,615 0.05



United States - Vereinigte Staaten 0.08878 Realty Income Corp 54,620 0.08

Shares -Aktien


Ireland - Irland 0.11557 Perrigo Company

Limited72,198 0.11

United States - Vereinigte Staaten 0.001,018 Safeway Inc Casa Ley

Cvr1,033 0.00

1,018 Safeway Inc Pdc Cvr 50 0.00


69,240,766 99.35


454,139 0.65


69,694,905 100.00


93







US Equity Index Tracking



SectorSektor


Internet software - Internet, Software 10.22Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 9.49Holding and finance companies - Holding-und Finanzgesellschaften 9.45Banks and financial institutions - Banken,Kreditinstitute 8.13Office equipment, computers -Buroausstattung, Computer 6.25Petrol - Treibstoff 6.04Retail - Einzelhandel und Warenhauser 5.84News transmission -Nachrichtenubertragung 4.03Food and distilleries - Nahrungsmittel,alkoholische Getranke 3.76Public services - Energie undWasserversorgung 3.31Real estate companies - Immobilien 2.70Electronic semiconductor - Halbleiter 2.65Biotechnology - Biotechnologie 2.49Aerospace technology - Luft- undRaumfahrttechnologie 2.38Consumer goods - Konsumguter 2.16Transportation - Verkehr und Transport 2.14Tobacco and spirits - Tabak undalkoholische Getranke 2.02Insurance - Versicherungen 2.01Leisure - Freizeit 1.95Graphic art, publishing - Grafik undVerlage 1.79Mechanics, machinery - Maschinen- undApparatebau 1.79Healthcare, education and socialservices - Gesundheitsversorgung,Bildung und soziale Einrichtungen 1.76Chemicals - Chemie 1.72Automobile industry - Automobilindustrie 0.99Other services - SonstigeDienstleistungen 0.86Textile - Textil- und Bekleidungsindustrie 0.80Electronics and electrical equipment -Elektrotechnik und Elektronik 0.53Construction, building materials - Bau,Baustoffe 0.47Forest products and paper industry -Papier und Holz 0.42Environmental services & recycling -Umwelt und Recycling 0.26Miscellaneous - Andere 0.15Other business houses - SonstigeHandelshauser 0.14Package and container industry -Verpackungsindustrie 0.13Precious metals - Edelmetalle 0.13Various capital goods - VerschiedeneProduktionsguter 0.10Mines, heavy industries - Kohlebergbau,Schwerindustrie 0.09Non-ferrous metals - Nichteisenmetalle 0.07Agriculture and fishing - Landwirtschaftund Fischerei 0.05

SectorSektor


Tyres & rubber - Gummi und Reifen 0.05Investment funds - Investmentfonds 0.03


99.35


0.65


100.00


94




CMI Euro BondPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Austria - Osterreich 3.1611,000 Austria 2.4% 13-

23.05.3413,646 0.09

28,000 Austria 3.15% 12-20.06.44

41,299 0.28

295,000 Austria 3.4% 12-22.11.22

362,599 2.47

29,000 Austria 4.15% 06-15.03.37

46,035 0.32

Belgium - Belgien 11.29390,000 Belgium 0% 16-

22.06.26409,090 2.79

140,000 Belgium 1% 15-22.06.31 / Olo

140,973 0.96

125,000 Belgium 2.25% 13-22.06.23

145,075 0.99

565,000 Belgium 3.5% 11-28.06.17 Olo

592,487 4.04

89,000 Belgium 3.75% 10-28.09.20 Olo

105,225 0.72

65,000 Belgium 3.75%22.06.45 Regs

102,014 0.69

130,000 Belgium 4.25% 11-28.09.21

161,896 1.10

Finland - Finnland 0.8110,000 Finland 2.625% 12-

04.07.4213,747 0.09

29,000 Finland 0.75% 15-15.04.31

28,855 0.20

73,000 Finnish Gov 0.875% 15-15.09.25

76,562 0.52

France - Frankreich 20.94469,634 France 0.25%

25.07.24 Oat/Inf508,146 3.46

65,000 France 0.5% 14-25.05.25 /Oat

66,056 0.45

295,000 France 1% 12-25.07.17 Btan

300,590 2.05

972,000 France 1% 13-25.05.19

1,013,213 6.90

302,000 France 2.5% 13-25.05.30 / Oat

369,316 2.52

138,000 France 3% 11-25.04.22 Oat

163,827 1.12

206,000 France 3.25% 12-25.05.45 Oat

298,483 2.03

59,000 France 4% 06-25.10.38 Oat

91,338 0.62

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

151,000 France 5.75% 01-25.10.32

262,861 1.79

Germany - Deutschland 18.291,179,000 Germany 0% 15-

17.04.201,199,574 8.17

696,000 Germany 1% 15-15.08.25

755,125 5.14

267,000 Germany 2.25% 11-04.09.21

304,821 2.08

93,000 Germany 2.5% 14-15.08.46

134,524 0.92

134,000 Germany 4% 05-04.01.37

219,907 1.50

41,000 Germany 5.5% 00-04.01.31

70,510 0.48

Ireland - Irland 1.76237,000 Ireland 0.8% 15-

15.03.22245,757 1.67

12,000 Ireland 2% 15-18.02.45

12,865 0.09

Italy - Italien 24.98820,000 Btps 2% 15-01.12.25

/Btp879,081 5.99

572,000 Italy 1.05% 14-01.12.19 /Btp

591,333 4.03

544,000 Italy 2.15% 14-15.12.21 /Btp

594,973 4.05

80,000 Italy 2.7% 16-01.03.47/Btp

85,809 0.58

505,000 Italy 4.5% 07-01.02.18Btp

546,511 3.72

312,000 Italy 4.75% 13-01.09.28

424,429 2.89

152,000 Italy 5% 09-01.09.40Btp

230,280 1.57

201,000 Italy 5.75% 02-01.02.33 Btp

314,927 2.15

Netherlands - Niederlande 5.4188,000 Netherlands 0.25% 15-

15.07.2588,185 0.60

220,000 Netherlands 2.25% 12-15.07.22

253,363 1.73

27,000 Netherlands 2.5% 12-15.01.33

34,736 0.24

89,000 Netherlands 2.75% 14-15.01.47

131,493 0.89

112,000 Netherlands 3.5% 10-15.07.20

130,586 0.89

141,000 Netherlands 4% 08-15.07.18

155,410 1.06


95





Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Portugal - Portugal 2.21214,000 Portugal 4.8% 10-

15.06.20242,323 1.65

83,000 Portuguese 2.875% 16-21.07.26

82,415 0.56

Spain - Spanien 14.24203,000 Spain 0.5% 14-

31.10.17204,614 1.39

201,000 Spain 1.95% 16-30.04.26

210,769 1.44

321,000 Spain 4% 10-30.04.20 369,070 2.51296,000 Spain 4.5% 12-

31.01.18320,301 2.18

68,000 Spain 4.9% 07-30.07.40

98,267 0.67

207,000 Spain 5.5% 11-30.04.21

259,423 1.77

40,000 Spain 5.75% 02-30.07.32

60,942 0.42

400,000 Spanish Gov 3.8% 14-30.04.24

480,720 3.27

57,000 Spanish Gov 5.15% 13-31.10.44

86,785 0.59


15,133,161 103.09


(454,239) (3.09)


14,678,922 100.00


96





CMI Euro BondPortfolio of Investments as at 31 March 2016 - continued


CMI Euro Bond



SectorSektor




103.09


(3.09)


100.00


97




CMI UK BondPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Great Britain - Großbritannien 95.05216,000 Great-Brit. 4.25% 08-

07.12.49 Tsy Gilt320,425 1.64

1,064,000 Uk 1.25% 13-22.07.18 1,083,418 5.54800 Uk 1.75% 11-22.01.17 808 0.00

3,055,000 Uk 1.75% 13-22.07.19 3,167,271 16.19165,000 Uk 2% 14-22.07.20 173,646 0.89

1,165,000 Uk 3.25% 12-22.01.44/ Rpi

1,395,903 7.13

292,000 Uk 3.5% 13-22.07.68Tbo

417,487 2.13

899,000 UK 3.5% 14-22.01.45 1,128,470 5.77343,000 Uk 3.75% 09-07.09.19 380,490 1.94734,000 Uk 3.75% 11-07.09.21

Gilt846,265 4.32

537,000 Uk 3.75% 11-22.07.52Treasury

747,021 3.82

391,000 Uk 4% 09-22.01.60 599,931 3.071,120,000 Uk 4.25% 00-07.06.32 1,474,984 7.54497,000 Uk 4.25% 09-07.09.39 679,324 3.47825,000 Uk 4.25% 10-07.12.40 1,139,449 5.8254,871 Uk 4.5% 07-07.12.42 79,554 0.41

111,000 Uk 4.75% 07-07.12.30 152,420 0.782,862,000 Uk Tsy 4% 06-

07.09.16 Tsy2,906,218 14.85

138,000 Uk Tsy 4.25% 03-07.03.36

185,134 0.95

894,000 Uk Tsy 4.5% 09-07.09.34

1,225,361 6.26

340,000 Uk Tsy 4.75% 04-07.12.38

494,207 2.53

Italy - Italien 1.78412,000 Btps 2% 15-01.12.25

/Btp349,152 1.78

Portugal - Portugal 0.94230,000 Portuguese 2.875% 15-

15.10.25183,179 0.94

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Spain - Spanien 1.83423,000 Spanish Gov 2.15% 15-

31.10.25358,006 1.83


19,488,123 99.60


78,836 0.40


19,566,959 100.00


98





CMI UK Bond



SectorSektor




99.60


0.40


100.00


99




CMI US BondPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Mexico - Mexiko 0.6783,000 Mexico 10% 05-

05.12.24 -M-618,776 0.67

United States - Vereinigte Staaten 40.352,255,000 Usa 0.5% 14-30.06.16

/Tbo2,256,057 2.44

13,863,000 Usa 0.875% 15-15.10.18 /Tbo

13,874,914 15.00

7,748,000 Usa 1.375% 15-31.08.20 /Tbo

7,812,163 8.45

6,689,000 Usa 1.75% 15-30.09.22 /Tbo

6,778,883 7.33

5,280,000 Usa 2.5% 15-15.02.45/Tbo

5,128,200 5.55

1,073,600 Usa 5.25% 98-15.11.28 Tbo

1,464,290 1.58

Bonds -Anleihen


United States - Vereinigte Staaten 59.57969,835 Usa 0.375% 15-

15.07.25 /Infl989,309 1.07

13,660,000 Usa 0.625% 15-31.07.17 /Tbo

13,648,795 14.76

22,081,000 Usa 1% 12-30.11.19 22,046,498 23.847,076,000 Usa 2.125% 15-

15.05.25 / Tbo7,275,012 7.86

3,455,000 Usa 3.75% 13-15.11.43 / Tbo

4,277,722 4.62

5,015,700 Usa 4.5% 06-15.02.36 6,858,970 7.42


93,029,589 100.59


(548,479) (0.59)


92,481,110 100.00


100





CMI US Bond



SectorSektor




100.59


(0.59)


100.00


101




CMI Sterling Currency ReservePortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Australia - Australien 11.292,000,000 Anz Bk Frn 16-

11.02.192,001,280 3.77

1,000,000 Cba Frn 14-24.01.18 999,260 1.881,000,000 Cba Frn 15-26.10.18 1,000,240 1.881,000,000 Nab Aus Frn 13-

12.11.161,001,830 1.88

1,000,000 Nat Aus Bk Frn 16-01.03.19

999,240 1.88

Canada - Kanada 10.331,000,000 Cibc Frn 15-15.01.18 997,560 1.881,000,000 Rbc Tor Frn 16-

11.03.191,000,440 1.88

2,000,000 Scotiabk Frn 15-07.08.18

1,996,020 3.75

500,000 Scotiabk Frn 16-14.01.19

499,935 0.94

1,000,000 Toronto Dom Frn 15-19.01.18

997,770 1.88

Finland - Finnland 1.881,000,000 Pohjola Bk Frn 15-

21.05.18998,890 1.88

France - Frankreich 0.96500,000 Bnpp 3.50% 11-

07.12.16508,230 0.96

Great Britain - Großbritannien 18.91225,000 Arkle Master 4.681%

10-17.05.60231,228 0.43

800,000 Cs Ag Ldn Frn 14-15.07.16

799,960 1.50

200,000 Demamare Frn 14-19.05.19 1 A1

198,565 0.37

260,443 Fosse Mas Frn18.10.54 11-1X A6

261,666 0.49

500,000 Fossm 4.635% (Frn)10-18.10.54

513,237 0.97

868,249 Friary 1 Frn 11-21.10.43 1 A2

870,889 1.64

77,813 Holmes M Frn15.10.54 2011-1X

77,969 0.15

529,353 Kenri Frn 12-11.01.431 A2

535,705 1.01

1,374,000 Lanark Mast Frn22.12.54 2x 2a

1,386,641 2.61

1,000,000 Lloyds Frn 16-14.01.19 999,680 1.881,000,000 Lloyds Gblib & 1.65 12-

22.03.181,013,560 1.91

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

1,000,000 Nationwide Frn 14-17.07.17

999,590 1.88

163,000 Nationwide Frn 15-27.04.18

162,687 0.31

2,000,000 Wstp Frn 15-23.06.17 1,998,340 3.76

Ireland - Irland 4.71500,000 Ge Cap Intl 1.363% 15-

15.04.16500,070 0.94

2,000,000 Ge Cap Uk Frn 13-09.05.16

2,001,040 3.77

Netherlands - Niederlande 3.351,000,000 Rabobk Frn 15-

18.09.17998,880 1.88

785,000 Vw Fin Serv 1.25% 13-23.05.16

784,521 1.47

Singapore - Singapur 0.94500,000 Ocbc Frn 14-15.05.17 500,045 0.94

Sweden - Schweden 9.792,000,000 Shb Frn 13-10.05.16 2,000,780 3.76604,000 Svsk Hdbk 5.5% 09-

26.05.16608,157 1.14

1,600,000 Swedbank Frn 15-02.06.17

1,598,736 3.01

1,000,000 Swedbk Frn 15-02.04.18

997,230 1.88

United States - Vereinigte Staaten 2.44300,000 Bmw Us Cap Frn 15-

06.02.17299,424 0.56

1,000,000 Ny Life Gbl Frn 15-28.09.17

999,556 1.88




Bonds -Anleihen


Australia - Australien 0.57300,000 Cba Frn 13-22.07.16 300,345 0.57

Great Britain - Großbritannien 3.86200,000 Asb Fin Frn 15-

01.05.18199,750 0.37


102





Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

104,131 Darrowby Frn 20.02.442012-1 A

105,058 0.20

41,765 E-Carat 2 Frn 13-18.10.21 2 A

41,756 0.08

104,600 Ecara 3 A Frn 14-18.03.22 3 A

104,391 0.20

492,838 Ecara 5 A Frn 15-18.04.23 5 A

491,606 0.92

350,000 Gfund Frn 16-15.02.581x A1b

349,565 0.66

743,000 Permm 4.805% 10-15.07.42 10-1 3a

762,266 1.43

Luxembourg - Luxemburg 0.52280,058 Drvuk 2 A Frn 14-

25.01.23 2 A277,510 0.52

Certificate ofDeposit -Schatzwech-sel

Financial Instruments - LiquiditatsahnlicheFinanzinstrumente

Canada - Kanada 1.881,000,000 Bmo 0.95% 15-

15.12.16 Cd1,000,000 1.88

Emirates arabes - Vereinigte ArabischeEmirate

3.76

1,000,000 Nbaduh 0.88% 16-25.10.16 Cd

1,000,000 1.88

1,000,000 Nbaduh 0.97% 16-03.02.17 Cd

1,000,000 1.88

France - Frankreich 2.821,500,000 Socgen 0.99% 16-

01.02.17 Cd1,500,000 2.82

Great Britain - Großbritannien 6.591,000,000 Bnpp Uk 0.87% 15-

05.08.16 Cd1,000,000 1.89

1,000,000 Bnpp Uk 1% 15-16.12.16 Cd

1,000,000 1.88

1,000,000 Rabobk Ln 0.73% 15-20.06.16 Cd

1,000,000 1.88

500,000 St Chart Ln 1.045%25.11.16 Cd

500,000 0.94

Switzerland - Schweiz 2.821,000,000 Cs 1.04% 15-16.06.16

Cd1,000,000 1.88

500,000 Ubs Inc 15-27.05.16Cd

500,000 0.94

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

CommercialPaper -CommercialPaper



1.88

1,000,000 Abudhabi Bk 0% 15-21.04.16 Cp

999,484 1.88

France - Frankreich 1.881,000,000 Bfcm 0% 15-01.07.16

Cp997,733 1.88

Bonds -Anleihen


Great Britain - Großbritannien 0.46250,000 Demamare Frn 15-

19.04.20 1 A1247,531 0.46


51,152,465 96.22


2,006,928 3.78


53,159,393 100.00


103

CMI Sterling Currency ReservePortfolio of Investments as at 31 March 2016 - continued






CMI Sterling Currency Reserve



SectorSektor


Banks and financial institutions - Banken,Kreditinstitute 62.67Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 13.01Holding and finance companies - Holding-und Finanzgesellschaften 12.76Investment funds - Investmentfonds 4.58Real estate companies - Immobilien 2.19Miscellaneous - Andere 1.01


96.22


3.78


100.00


104




CMI US Dollar Currency ReservePortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Australia - Australien 12.851,300,000 Anz Bk 0.875% 12-

16.05.161,299,936 3.75

250,000 Aust & Nz B Frn 14-10.01.17

250,038 0.72

1,200,000 Cba Frn 14-13.03.17 1,200,180 3.471,700,000 Westpac Bk Frn 14-

19.05.171,698,521 4.91

Canada - Kanada 9.451,620,000 Cibc Frn 07-21.02.17

Emtn1,618,234 4.67

1,250,000 Td Bk Frn 13-09.09.16 1,251,388 3.62400,000 Td Bk Frn 14-13.07.16 400,088 1.16

France - Frankreich 1.44500,000 Dexia Clf Frn 16-

23.03.18499,850 1.44

Germany - Deutschland 4.331,500,000 Nrw Bk Frn 13-

08.07.161,500,285 4.33

Great Britain - Großbritannien 3.94271,294 Fosse Ma Frn 11-

18.10.54 1x A5272,056 0.79

582,000 Fosse Mas Frn 12-18.10.54

588,677 1.70

500,000 Hsbc 3.1% 11-24.05.16

501,615 1.45

Sweden - Schweden 5.071,250,000 Nordea Frn 13-

13.05.161,250,612 3.61

500,000 Swed Exp Cr 1.75% 12-30.11.12

504,840 1.46

United States - Vereinigte Staaten 7.42500,000 Dexia Cr Frn 13-

11.01.17500,145 1.45

1,000,000 Gecc 5.4% 07-15.02.17 Sr

1,039,180 3.00

1,030,000 Toyota Frn 15-12.01.18

1,028,084 2.97

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Australia - Australien 1.44500,000 Cba Frn 14-08.09.17 498,170 1.44

Canada - Kanada 5.94650,000 Bmo Frn 15.07.16 650,773 1.88405,000 Scotia Bk Frn 13-

15.07.16 SrScotia BkFrn 13-15.07.16SrScotia Bk Frn 13-15.07.16 Sr

405,555 1.17

1,000,000 Scotiabk Frn 13-13.12.16

1,000,990 2.89

France - Frankreich 2.891,000,000 Bpce Frn 13-25.04.16 1,000,660 2.89

Japan - Japan 1.75600,000 Sumibk 2.65% 11-

12.01.17605,622 1.75

Netherlands - Niederlande 4.431,500,000 Ing Nv 3.75% 12-

07.03.171,533,930 4.43

Sweden - Schweden 5.06400,000 Nordea Frn 14-

04.04.17399,824 1.16

1,350,000 Shb Frn 13-23.09.16 1,351,580 3.90

United States - Vereinigte Staaten 4.341,500,000 Wells Fargo Frn 14-

02.06.161,500,360 4.34



Australia - Australien 4.041,400,000 Mizuho Syd 0% 16-

21.04.16 Cd1,399,437 4.04

France - Frankreich 1.45500,000 Natixis 0.86% 16-

01.08.16 Cd500,000 1.45

Great Britain - Großbritannien 8.661,000,000 Bk Mtl Ln 0% 15-

19.05.16 Cd999,266 2.89


105





Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens

1,500,000 Nab Ln 0% 15-27.05.16 Cd

1,498,579 4.33

500,000 Sumit Trbk 0% 16-14.07.16 Cd

498,808 1.44



Finland - Finnland 4.331,500,000 Pohjola Bk 0% 16-

11.04.16 Cp1,499,725 4.33

France - Frankreich 8.651,500,000 Acoss 0% 16-09.05.16

Cp1,498,978 4.33

1,500,000 Bfcm 0% 16-25.08.16Cp

1,494,634 4.32


33,740,620 97.48


871,184 2.52


34,611,804 100.00


106

CMI US Dollar Currency ReservePortfolio of Investments as at 31 March 2016 - continued






CMI US Dollar Currency Reserve



SectorSektor


Banks and financial institutions - Banken,Kreditinstitute 81.78Holding and finance companies - Holding-und Finanzgesellschaften 4.43Healthcare, education and socialservices - Gesundheitsversorgung,Bildung und soziale Einrichtungen 4.33Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 3.94Electronics and electrical equipment -Elektrotechnik und Elektronik 3.00


97.48


2.52


100.00


107




CMI Euro Currency ReservePortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Australia - Australien 16.3810,631,000 Anz Bk 3.75% 10-

10.03.1711,010,952 4.82

2,000,000 Cba 4.25% 09-10.11.16

2,053,260 0.90

846,000 Cba 4.25% 11-06.04.18

918,485 0.40

2,950,000 Cba Frn 13-21.10.16 2,953,776 1.29800,000 Nab 4.75% 09-

15.07.16811,192 0.36

5,000,000 Nat Aus Bk Frn 13-24.01.18

5,008,950 2.19

3,700,000 Nat Aus Bk Frn 15-16.01.18

3,699,926 1.62

2,300,000 Westpac Bk 4.125%11-25.05.18

2,499,019 1.09

7,100,000 Westpac Bk 4.25% 09-22.09.16

7,247,609 3.18

1,200,000 Westpac Bk Frn 13-10.11.16

1,201,644 0.53

Canada - Kanada 11.511,500,000 Bmo Frn 13-04.11.16 1,502,460 0.66

10,038,000 Cibc Frn 15-08.09.17 10,040,108 4.405,000,000 Rbc Tor Frn 15-

22.10.185,012,200 2.19

6,110,000 Scotiabk Frn 13-30.09.16

6,116,232 2.68

1,500,000 Scotiabk Frn 15-15.09.17

1,500,495 0.66

2,100,000 Td Bk Frn 14-16.06.17 2,103,276 0.92

Finland - Finnland 2.815,642,000 Pohjola Bk 1.25%

14.05.18 Regs5,778,988 2.53

600,000 Pohjola Bk 3% 10-08.09.17

625,962 0.28

France - Frankreich 5.293,000,000 Bfcm 2.875% 12-

21.06.173,105,000 1.36

2,900,000 Bfcm Frn 15-23.03.17 2,900,580 1.273,000,000 Bnpp 3% 12-24.02.17 3,081,690 1.352,900,000 Socgen 3.75% 12-

01.03.172,999,963 1.31

Germany - Deutschland 0.18408,000 Basf Ag 4.5% 06-

29.06.16412,610 0.18

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Great Britain - Großbritannien 13.542,000,000 Anglian Wat 6.25% 08-

27.06.162,029,780 0.89

1,000,000 Asb Fin Frn 14-03.07.17

1,001,048 0.44

1,250,000 Cs Ag Ldn Frn 15-10.11.17

1,251,825 0.55

2,000,000 Cs Ag Ldn Frn 15-18.06.18

1,998,340 0.87

720,000 Cs Ag Ldn Frn 15-22.07.16

720,432 0.31

1,667,000 Cs Ag Ldn Frn 15-30.03.17

1,667,667 0.73

81,388 Fossem Frn 11-18.10.54 1x A7

81,754 0.03

3,112,532 Holmes M Frn 11-15.10.54 1X A4

3,119,068 1.37

6,500,000 Hsbc 3.125% 10-15.11.17

6,824,155 2.99

1,000,000 Hsbc Bk 3.75% 09-30.11.16

1,025,420 0.45

3,033,334 Lanark Frn 14-22.12.54 1x 1a

3,028,041 1.33

5,000,000 Nationwide 3.125% 12-03.04.17

5,156,450 2.26

3,000,000 Nationwide Frn 16-23.03.18

3,013,770 1.32

Netherlands - Niederlande 8.801,070,000 Bmw Fin 3.875% 10-

18.01.171,103,331 0.48

3,518,000 Dt Bahn Fin 4.25% 04-23.11.16

3,617,665 1.58

2,500,000 Rabobank Ned.4.75%08-15.01.18

2,712,225 1.19

2,200,000 Rabobk 3.875% 11-20.04.16

2,204,532 0.97

4,500,000 Rabobk Frn 15-12.10.17

4,502,115 1.97

1,000,000 Rabobk Frn 16-15.01.18

1,000,870 0.44

386,000 Rdsaln 4.375% 09-14.05.18

422,477 0.19

4,500,000 Vw Intl Fin 1% 26.10.16Emtn

4,521,960 1.98

South Korea - Sudkorea 0.661,500,000 Eibk 0.375% 16-

15.03.191,503,690 0.66

Sweden - Schweden 12.531,226,000 Nordea 3.75% 10-

24.02.171,268,015 0.56

4,000,000 Nordea Frn 16-22.02.19

4,006,600 1.75

5,500,000 Seb 3.75% 11-19.05.16

5,527,555 2.42


108





Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

1,500,000 Seb 4.25% 11-21.02.18

1,620,060 0.71

500,000 Seb Frn 13-26.08.16 500,320 0.225,000,000 Svsk Hdbk 3.75% 10-

24.02.175,171,200 2.27

5,451,000 Swedbank 2.375% 12-04.04.16 Gmtn

5,452,417 2.39

5,000,000 Swedbank Frn 16-11.03.19

5,052,500 2.21

United States - Vereinigte Staaten 1.801,620,000 Toyota Frn 15-

08.09.171,620,292 0.71

2,450,000 Wells Fargo 4.375%06-01.08.16

2,486,431 1.09



Ireland - Irland 3.748,530,584 Swip Euro Liquidity -G-

Eur Dis8,530,584 3.74



France - Frankreich 2.195,000,000 Natixis 0.1% 15-

15.09.16 Cd5,000,000 2.19

Great Britain - Großbritannien 3.949,000,000 Qatar Nt Ln 0% 15-

01.09.16 Cd8,995,002 3.94

Netherlands - Niederlande 2.195,000,000 Ing Nv 0.09% 15-

08.09.16 Cd5,000,000 2.19




6.56

10,000,000 Abudhabi Bk 0% 15-12.09.16 Cp

9,992,678 4.37

5,000,000 Nbaduh 0% 15-09.08.16 Cp

4,998,909 2.19

Germany - Deutschland 2.412,000,000 Dgz Dekabk 0% 15-

06.06.16 Cp1,999,814 0.88

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

2,500,000 Dgz Dekabk 0% 15-16.08.16 Cp

2,499,713 1.09

1,000,000 Dgz Dekabk 0% 15-24.10.16 Cp

999,885 0.44

United States - Vereinigte Staaten 2.195,000,000 Metlife 0% 15-08.04.16

Cp4,999,956 2.19


220,812,923 96.72


7,490,269 3.28


228,303,192 100.00


109

CMI Euro Currency ReservePortfolio of Investments as at 31 March 2016- continued






CMI Euro Currency Reserve



SectorSektor


Banks and financial institutions - Banken,Kreditinstitute 78.03Holding and finance companies - Holding-und Finanzgesellschaften 6.27Investment funds - Investmentfonds 3.74Real estate companies - Immobilien 3.58Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 2.73Insurance - Versicherungen 2.19Chemicals - Chemie 0.18


96.72


3.28


100.00


110




CMI Global BondPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Australia - Australien 1.31307,000 Australia 1.75% 14-

21.11.20161,785 1.31

Belgium - Belgien 1.66170,000 Belgium 2.25% 13-

22.06.23155,967 1.26

40,000 Belgium 3.75%22.06.45 Regs

49,626 0.40

Canada - Kanada 7.521,545,000 Canada 1.25% 14-

01.02.18840,364 6.80

110,000 Canada 5% 04-01.06.37

89,659 0.72

France - Frankreich 6.72560,000 France 0% 14-

25.05.20 /Oat447,284 3.62

165,000 France 0.5% 14-25.05.25 /Oat

132,552 1.07

213,000 France 1.5% 15-25.05.31 /Oat

182,352 1.47

60,000 France 3.25% 12-25.05.45 Oat

68,724 0.56

Germany - Deutschland 2.23116,000 Germany 0.5% 15-

15.02.2595,554 0.77

83,930 Germany 2.5% 14-15.08.46

95,970 0.78

62,000 Germany 5.5% 00-04.01.31

84,287 0.68


07.12.49 Tsy Gilt252,187 2.04

192,000 Uk 2% 14-22.07.20 202,061 1.64154,000 Uk 2.75% 14-07.09.24 171,564 1.3994,000 Uk 4.25% 00-07.06.32 123,793 1.0046,000 Uk Tsy 4.75% 04-

07.12.3866,863 0.54


18.03.2487,103 0.71

Italy - Italien 5.83557,000 Italy 0.7% 15-01.05.20

/Btp449,379 3.63

135,000 Italy 1.5% 15-01.06.25/Btp

110,213 0.89

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

157,000 Italy 2.7% 16-01.03.47/Btp

133,120 1.08

30,000 Italy 3.25% 14-01.09.46 / Btp

28,446 0.23

Japan - Japan 19.1075,900,000 Japan 0.3% 13-

20.03.18474,398 3.84

56,300,000 Japan 0.4% 15-20.03.25

364,039 2.94

80,500,000 Japan 1.1% 11-20.03.21

530,184 4.29

34,600,000 Japan 1.5% 15-20.03.45

268,182 2.17

92,800,000 Japan 2.1% 09-20.06.29

723,931 5.86


05.12.24 -M-153,463 1.24


15.07.23107,140 0.87

41,000 Netherlands 3.75% 10-15.01.42

54,088 0.44

Spain - Spanien 2.77316,000 Spain 1.15% 15-

30.07.20258,541 2.09

70,000 Spanish Gov 5.15% 13-31.10.44

84,250 0.68

Sweden - Schweden 0.44515,000 Sweden 5% 03-

01.12.2054,612 0.44

United States - Vereinigte Staaten 15.96289,000 Usa 0.5% 14-30.06.16

/Tbo201,075 1.63

1,199,000 Usa 1.375% 15-31.08.20 /Tbo

840,731 6.80

690,000 Usa 2.5% 15-15.02.45/Tbo

466,054 3.77

391,800 Usa 4.5% 06-15.02.36 372,604 3.0198,000 Usa 5.25% 98-

15.11.28 Tbo92,954 0.75

Bonds -Anleihen



20.03.37 N.26227,248 1.84


111





Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens


30.04.25219,315 1.77


15.07.25 /Infl170,227 1.38

2,970,000 Usa 0.625% 15-31.07.17 / Tbo

2,063,746 16.69

790,000 Usa 2.125% 15-15.05.25 / Tbo

564,845 4.57


12,320,480 99.66


42,209 0.34


12,362,689 100.00


112

CMI Global BondPortfolio of Investments as at 31 March 2016 - continued






CMI Global Bond



SectorSektor




99.66


0.34


100.00


113




CMI Global MixedPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Bermuda Islands - Bermudas 1.2915,100 Jardine Matheson

Hldgs590,370 1.29

Brazil - Brasilien 1.1294,952 Banco Bradesco / Sadr 512,415 1.12

Canada - Kanada 2.0611,900 Canadian National

Railway519,194 1.14

34,900 Potash CorpSaskatchewan

423,059 0.92

France - Frankreich 1.0310,700 Schneider Electric Sa 471,469 1.03

Germany - Deutschland 2.167,300 Fresenius Medical Care

Ag450,099 0.99

6,900 Henkel / Vorzug 534,160 1.17

Great Britain - Großbritannien 8.0829,300 Bhp Billiton Plc 230,269 0.5022,500 British American

Tobacco (25p)918,675 2.01

59,400 Hsbc Holdings Plc 257,796 0.5662,559 Rolls Royce Hld 429,467 0.9437,700 Royal Dutch Shell / B 642,973 1.4194,384 Standard Chartered Plc 440,915 0.97

348,600 Vodafone Group Plc 770,232 1.69

Guernsey - Guernsey 1.0511,500 Amdocs 480,410 1.05

Hong Kong - Hongkong 2.93172,800 Aia Group 681,115 1.4999,500 Mass Transit Railway

Corp342,667 0.75

42,000 Swire Pacific Ltd A 314,524 0.69

India - Indien 1.4224,700 Housing Devt Fin Corp 286,970 0.63

105,000 Itc Ltd / Demat 360,765 0.79

Israel - Israel 1.3710,400 Check Point Software

Techno624,456 1.37

Japan - Japan 5.684,700 Daito Trust Construct. 464,857 1.024,100 Fanuc Ltd Jpy 50 443,705 0.97

31,800 Japan Tobacco Inc. 923,090 2.0221,200 Shin-Etsu Chemical Co 764,190 1.67

Jersey - Jersey 1.0839,800 Experian Plc 495,112 1.08

Quantity -Anzahl


MarketValue GBPMarktwert

GBP


Nettover-mogens

Luxembourg - Luxemburg 0.9926,400 Tenaris / Adr 453,479 0.99

Mexico - Mexiko 1.409,500 Fomento Economico

Mexicano / Adr638,200 1.40


Singapore - Singapur 0.8794,500 City Developments Ltd 398,945 0.87

South Africa - Sudafrika 0.7555,400 Mtn Group Ltd 343,541 0.75

South Korea - Sudkorea 2.151,460 Samsung electr./ pfd n-

vot.982,354 2.15

Sweden - Schweden 1.0326,800 Atlas Copco Ab 468,370 1.03

Switzerland - Schweiz 5.9711,000 Nestle Sa 572,303 1.2521,200 Novartis Ag Basel /

Nam.1,072,345 2.35


1,079,831 2.37

Taiwan - Taiwan 2.16282,000 Taiwan Semiconductor

Manufact.987,895 2.16

Thailand - Thailand 0.6889,100 Kasikornbank Pub.

Comp. / ForeignRegistered

308,142 0.68

United States - Vereinigte Staaten 20.8915,500 Cognizant Technology

Sol.corp673,163 1.47

14,400 Comcast Corp / A 608,867 1.3315,300 Cvs Caremark Corp 1,107,107 2.4224,500 Eog Resources Inc. 1,255,030 2.752,500 Interconexch Gr 405,456 0.898,300 Johnson & Johnson 629,044 1.388,100 M&T Bank Corporation 630,729 1.38

29,500 Oracle Corp 840,512 1.8413,000 Pepsico Inc 928,384 2.0311,100 Philip Morris Int. 761,820 1.676,700 Praxair 535,832 1.178,800 Tjx Cos Inc. 481,508 1.06

12,800 Visa Inc A 683,462 1.50


114





Quantity -Anzahl



GBP


Nettover-mogens

Bonds -Anleihen


Australia - Australien 0.26210,000 Australia 3.25% 13-

21.04.25119,463 0.26

Belgium - Belgien 0.50194,023 Belgium 2.25% 13-

22.06.23178,007 0.39

40,000 Belgium 3.75%22.06.45 Regs

49,626 0.11

Canada - Kanada 0.20110,000 Canada 5% 04-

01.06.3789,660 0.20

France - Frankreich 1.91593,000 France 0% 14-

25.05.20 /Oat473,642 1.04

136,862 France 0.5% 14-25.05.25 /Oat

109,947 0.24

205,000 France 1.5% 15-25.05.31 /Oat

175,503 0.38

100,000 France 3.25% 12-25.05.45 Oat

114,540 0.25


15.02.2597,060 0.21

96,000 Germany 2.5% 14-15.08.46

109,772 0.24

71,000 Germany 5.5% 00-04.01.31

96,522 0.21


49tsy Gilt265,538 0.58

240,000 Uk 2% 14-22.07.20 252,576 0.5590,000 Uk 2.75% 14-07.09.24 100,265 0.22

116,000 Uk 4.25% 00-07.06.32 152,766 0.3393,000 Uk Tsy 4% 06-

07.09.16 Tsy94,437 0.21

75,000 Uk Tsy 4.75% 04-07.12.38

109,016 0.24

27,000 Uk 1% 12-07.09.17Treasury

27,228 0.06


18.03.2487,103 0.19

80,000 Ireland 1% 16-15.05.26

64,941 0.14

Italy - Italien 3.471,056,000 Italy 0.7% 15-01.05.20

/Btp851,965 1.86

150,000 Italy 1.5% 15-01.06.25/Btp

122,458 0.27

Quantity -Anzahl



GBP


Nettover-mogens

192,000 Italy 2.7% 16-01.03.47/Btp

162,797 0.36

30,000 Italy 3.25% 14-01.09.46 / Btp

28,446 0.06

530,000 Italy 3.75% 11-15.04.16 Btp

419,447 0.92


15.05.16461,180 1.01

30,900,000 Japan 0.3% 13-20.03.18

193,134 0.42

62,800,000 Japan 0.4% 15-20.03.25

406,069 0.89

104,800,000 Japan 1.1% 11-20.03.21

690,227 1.51

39,900,000 Japan 1.5% 15-20.03.45

309,261 0.68

104,600,000 Japan 2.1% 09-20.06.29

815,983 1.78


05.12.24 -M-176,793 0.39


15.07.23127,675 0.28

41,000 Netherlands 3.75% 10-15.01.42

54,088 0.12


31.10.44103,508 0.23

Sweden - Schweden 0.11500,000 Sweden 2.5% 13-

12.05.2550,263 0.11

United States - Vereinigte Staaten 5.501,480,000 Usa 1.375% 15-

31.08.20 /Tbo1,037,767 2.27

770,000 Usa 2.5% 15-15.02.45/Tbo

520,089 1.14

440,000 Usa 4.5% 06-15.02.36 418,443 0.92120,000 Usa 5.25% 98-

15.11.28 Tbo113,821 0.25

599,400 Usa 7.25% 86-15.05.16 Tbo

420,328 0.92

Bonds -Anleihen


Canada - Kanada 0.20170,000 Canada 4% 05-

01.06.1691,767 0.20


115

CMI Global MixedPortfolio of Investments as at 31 March 2016 - continued






Quantity -Anzahl



GBP


Nettover-mogens


20.03.37 N.26275,944 0.60


30.04.25226,626 0.50


15.07.25 /Infl191,505 0.42

3,402,000 Usa 0.625% 15-31.07.17 /Tbo

2,363,927 5.18

910,000 Usa 2.125% 15-15.05.25 / Tbo

650,644 1.42

Shares -Aktien



Limited441,697 0.97


45,307,831 99.19


370,424 0.81


45,678,255 100.00


116

CMI Global MixedPortfolio of Investments as at 31 March 2016 - continued






CMI Global Mixed



SectorSektor


States, provinces and municipalities -Staats- und Kommunalanleihen 31.90Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 8.06Tobacco and spirits - Tabak undalkoholische Getranke 7.89Banks and financial institutions - Banken,Kreditinstitute 6.84Internet software - Internet, Software 5.73Petrol - Treibstoff 5.46Electronic semiconductor - Halbleiter 4.31Chemicals - Chemie 3.76Food and distilleries - Nahrungsmittel,alkoholische Getranke 3.28Holding and finance companies - Holding-und Finanzgesellschaften 2.87News transmission -Nachrichtenubertragung 2.44Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 2.42Retail - Einzelhandel und Warenhauser 2.14Electronics and electrical equipment -Elektrotechnik und Elektronik 2.00Insurance - Versicherungen 1.49Graphic art, publishing - Grafik undVerlage 1.33Consumer goods - Konsumguter 1.17Mechanics, machinery - Maschinen- undApparatebau 1.03Construction, building materials - Bau,Baustoffe 1.02Mines, heavy industries - Kohlebergbau,Schwerindustrie 0.99Aerospace technology - Luft- undRaumfahrttechnologie 0.94Real estate companies - Immobilien 0.87Transportation - Verkehr und Transport 0.75Precious metals - Edelmetalle 0.50


99.19


0.81


100.00


117




CMI Global EquityPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Bermuda Islands - Bermudas 1.656,500 Jardine Matheson

Hldgs254,133 1.65

Brazil - Brasilien 1.6547,104 Banco Bradesco / Sadr 254,200 1.65

Canada - Kanada 3.066,000 Canadian National

Railway261,778 1.69

17,400 Potash CorpSaskatchewan

210,924 1.37

France - Frankreich 1.515,300 Schneider Electric Sa 233,531 1.51

Germany - Deutschland 3.103,500 Fresenius Medical Care

Ag215,801 1.40

3,400 Henkel / Vorzug 263,209 1.70

Great Britain - Großbritannien 11.8213,600 Bhp Billiton Plc 106,882 0.6911,800 British American

Tobacco (25p)481,794 3.12

29,500 Hsbc Holdings Plc 128,030 0.8331,588 Rolls Royce Hld 216,852 1.4017,800 Royal Dutch Shell / B 303,579 1.9745,052 Standard Chartered Plc 210,460 1.36

171,100 Vodafone Group Plc 378,046 2.45

Guernsey - Guernsey 1.545,700 Amdocs 238,116 1.54

Hong Kong - Hongkong 4.0479,800 Aia Group 314,543 2.0447,500 Mass Transit Railway

Corp163,585 1.06

19,500 Swire Pacific Ltd A 146,029 0.94

India - Indien 1.8312,000 Housing Devt Fin Corp 139,418 0.9041,900 Itc Ltd / Demat 143,963 0.93

Israel - Israel 1.945,000 Check Point Software

Techno300,219 1.94

Japan - Japan 8.432,400 Daito Trust Construct. 237,373 1.542,300 Fanuc Ltd Jpy 50 248,907 1.61

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

15,200 Japan Tobacco Inc. 441,226 2.8510,400 Shin-Etsu Chemical Co 374,886 2.43

Jersey - Jersey 1.6320,200 Experian Plc 251,288 1.63

Luxembourg - Luxemburg 1.4513,000 Tenaris / Adr 223,304 1.45

Mexico - Mexiko 2.004,600 Fomento Economico

Mexicano / Adr309,023 2.00


Singapore - Singapur 0.9836,000 City Developments Ltd 151,979 0.98

South Africa - Sudafrika 1.1127,700 Mtn Group Ltd 171,771 1.11

South Korea - Sudkorea 3.22740 Samsung electr./ pfd n-

vot.497,906 3.22

Sweden - Schweden 1.5013,300 Atlas Copco Ab 232,437 1.50

Switzerland - Schweiz 8.825,600 Nestle Sa 291,354 1.89

10,500 Novartis Ag Basel /Nam.

531,114 3.44


539,916 3.49

Taiwan - Taiwan 3.11137,000 Taiwan Semiconductor

Manufact.479,935 3.11

Thailand - Thailand 0.9843,900 Kasikornbank Pub.

Comp. / ForeignRegistered

151,823 0.98

United States - Vereinigte Staaten 30.387,600 Cognizant Technology

Sol.corp330,067 2.14

7,200 Comcast Corp / A 304,433 1.977,400 Cvs Caremark Corp 535,464 3.46

11,700 Eog Resources Inc. 599,341 3.881,200 Interconexch Gr 194,619 1.264,100 Johnson & Johnson 310,732 2.014,000 M&T Bank Corporation 311,471 2.02

14,200 Oracle Corp 404,586 2.626,300 Pepsico Inc 449,909 2.91


118





Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens

5,400 Philip Morris Int. 370,615 2.403,200 Praxair 255,920 1.665,400 Tjx Cos Inc. 295,471 1.916,200 Visa Inc A 331,052 2.14

Shares -Aktien



Limited225,356 1.46


15,313,329 99.12


135,784 0.88


15,449,113 100.00


119





CMI Global EquityPortfolio of Investments as at 31 March 2016 - continued


CMI Global Equity



SectorSektor


Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 11.80Tobacco and spirits - Tabak undalkoholische Getranke 11.30Banks and financial institutions - Banken,Kreditinstitute 9.88Internet software - Internet, Software 8.24Petrol - Treibstoff 7.76Electronic semiconductor - Halbleiter 6.33Chemicals - Chemie 5.46Food and distilleries - Nahrungsmittel,alkoholische Getranke 4.80Holding and finance companies - Holding-und Finanzgesellschaften 3.85News transmission -Nachrichtenubertragung 3.56Retail - Einzelhandel und Warenhauser 3.54Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 3.46Electronics and electrical equipment -Elektrotechnik und Elektronik 3.12Mines, heavy industries - Kohlebergbau,Schwerindustrie 2.14Insurance - Versicherungen 2.04Graphic art, publishing - Grafik undVerlage 1.97Consumer goods - Konsumguter 1.70States, provinces and municipalities -Staats- und Kommunalanleihen 1.69Construction, building materials - Bau,Baustoffe 1.54Mechanics, machinery - Maschinen- undApparatebau 1.50Aerospace technology - Luft- undRaumfahrttechnologie 1.40Transportation - Verkehr und Transport 1.06Real estate companies - Immobilien 0.98


99.12


0.88


100.00


120




CMI European Enhanced EquityPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien



Sa643,389 3.35


France - Frankreich 34.771,609 Air Liquide 159,999 0.83

26,502 Axa 540,641 2.8110,745 Bnp Paribas 472,834 2.4611,358 Carrefour Sa 274,523 1.43

651 Essilor International 70,438 0.3728,783 France Telecom Sa 441,675 2.3010,278 Gdf Suez 140,038 0.738,264 Groupe Danone 521,045 2.711,811 L Oreal 286,047 1.493,540 Lvmh Moet Hennessy

Eur 0.3538,611 2.80

2,931 Safran Sa 181,810 0.948,834 Saint-Gobain 337,636 1.76

13,121 Sanofi-Aventis 938,676 4.882,434 Schneider Electric Sa 135,671 0.716,524 Ste Gen.Paris A 211,345 1.10


7,722 Vinci 504,401 2.625,556 Vivendi 102,758 0.53






482,462 2.51


326,982 1.70


52,372 0.27


357,814 1.86


Kgaa404,581 2.10

2,284 Muenchener Rueckvers/ Namensakt

408,436 2.12

11,165 Sap Ag 793,486 4.135,769 Siemens Ag / Nam. 538,617 2.802,726 Volkswagen Ag /

Vorzug.308,692 1.61


Spa47,018 0.24

47,883 Enel 189,521 0.99

Quantity -Anzahl


MarketValue EURMarktwert

EUR


Nettover-mogens

35,549 Eni Spa Roma 469,958 2.4476,744 Intesa Sanpaolo Spa 182,804 0.9574,572 Unicredit Az 232,366 1.21


Defence & Sp.443,995 2.31


512,086 2.66


63,789 0.33



Reg.374,302 1.95


195,962 1.02

36,802 Iberdrola Sa 216,322 1.1214,461 Inditex 431,733 2.2524,024 Telefonica Sa 238,390 1.24


18,374,915 95.55


856,255 4.45


19,231,170 100.00


121





CMI European Enhanced Equity



SectorSektor


Banks and financial institutions - Banken,Kreditinstitute 13.05Insurance - Versicherungen 8.92Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 8.84News transmission -Nachrichtenubertragung 8.25Chemicals - Chemie 7.94Petrol - Treibstoff 6.44Food and distilleries - Nahrungsmittel,alkoholische Getranke 4.93Construction, building materials - Bau,Baustoffe 4.38Public services - Energie undWasserversorgung 4.38Holding and finance companies - Holding-und Finanzgesellschaften 4.31Internet software - Internet, Software 4.13Automobile industry - Automobilindustrie 4.12Retail - Einzelhandel und Warenhauser 3.68Tobacco and spirits - Tabak undalkoholische Getranke 3.35Textile - Textil- und Bekleidungsindustrie 2.80Various capital goods - VerschiedeneProduktionsguter 2.80Electronic semiconductor - Halbleiter 1.42Electronics and electrical equipment -Elektrotechnik und Elektronik 0.71Graphic art, publishing - Grafik undVerlage 0.53Real estate companies - Immobilien 0.30Transportation - Verkehr und Transport 0.27


95.55


4.45


100.00


122




CMIG Focus Euro BondPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


Australia - Australien 0.323,000,000 Bhp Finance 0.75% 15-

28.10.222,954,250 0.32

Austria - Osterreich 2.344,643,000 Austria 1.2% 15-

20.10.255,013,047 0.54

2,340,000 Austria 2.4% 13-23.05.34

2,902,887 0.32

1,889,000 Austria 3.15% 12-20.06.44

2,786,181 0.30

6,710,000 Austria 3.4% 12-22.11.22

8,247,596 0.90

1,620,000 Austria 4.15% 06-15.03.37

2,571,588 0.28

Belgium - Belgien 12.562,500,000 Ab Inbev 2% 16-

17.03.282,603,075 0.28

2,800,000 Ab Inbev 2.75% 16-17.03.36

2,974,636 0.32

3,500,000 Ab Inbev 0.625% 16-17.03.20

3,527,860 0.38

1,998,000 Ab Inbev 1.25% 12-24.03.17

2,020,977 0.22

2,600,000 Ag Insur 3.5% 15-30.06.47

2,435,576 0.27

18,529,000 Belgium 0% 16-22.06.26

19,435,994 2.12

7,591,000 Belgium 1% 15-22.06.31 / Olo

7,643,757 0.83

7,262,000 Belgium 2.25% 13-22.06.23

8,428,277 0.92

43,329,000 Belgium 3.5% 11-28.06.17 Olo

45,436,956 4.95

5,323,000 Belgium 3.75% 10-28.09.20 Olo

6,293,383 0.69

3,773,000 Belgium 3.75%22.06.45 Regs

5,921,535 0.64

6,899,000 Belgium 4.25% 11-28.09.21

8,591,670 0.94

Denmark - Danemark 0.292,200,000 Ap Moeller Frn 16-

18.03.192,229,392 0.24

400,000 Danica Pens 4.375%15-29.09.45

399,812 0.05

Finland - Finnland 0.772,186,000 Finland 0.75% 15-

15.04.312,175,070 0.24

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

638,000 Finland 2.625% 12-04.07.42

877,059 0.09

3,860,000 Finnish Gov 0.875% 15-15.09.25

4,048,368 0.44

France - Frankreich 27.404,200,000 Ald Intl 0.75% 15-

26.01.184,215,330 0.46

500,000 Ald Intl 2% 13-26.05.17 509,435 0.065,000,000 Axa 3.875% 14-Perp 4,999,800 0.543,600,000 Axa 5.25% (Frn) 10-

16.04.40 / Sub3,980,520 0.43

4,200,000 Bfcm 3% 14-21.05.24 4,506,852 0.49534,000 Bfcm 4.375% 06-

31.05.16 Emtn537,594 0.06

500,000 Bnpp 7.781% 08-Perp 548,590 0.062,800,000 Cap Gem 2.5% 15-

01.07.233,021,900 0.33

400,000 Carrefour B Frn 15-20.03.20

396,212 0.04

950,000 Edf 4.625% 10-26.04.30

1,263,215 0.14

3,300,000 Edf 5% 14-Perp 3,127,971 0.343,900,000 Edf Frn 13-Pert / Ftf

Emtn3,881,202 0.42

15,903,191 France 0.25%25.07.24 Oat/Inf

17,207,319 1.87

15,812,000 France 0.5% 14-25.05.25 /Oat

16,068,945 1.75

17,021,000 France 1% 12-25.07.17 Btan

17,343,548 1.89

13,299,000 France 1% 13-25.05.18 Oat

13,701,295 1.49

43,334,000 France 1% 13-25.05.19

45,171,362 4.92

15,320,000 France 2.5% 13-25.05.30 / Oat

18,734,828 2.04

18,585,000 France 3% 11-25.04.22 Oat

22,063,183 2.40

11,174,000 France 3.25% 12-25.05.45 Oat

16,190,567 1.76

4,244,000 France 4% 06-25.10.38 Oat

6,570,136 0.72

8,428,000 France 5.75% 01-25.10.32

14,671,462 1.60

837,000 France Tel 5.625% 08-22.05.18

936,193 0.10

1,400,000 Gdf Suez 0% 15-13.03.17

1,399,720 0.15

3,800,000 Gdf Suez 3.875% 14-Perp

3,900,016 0.43

5,500,000 Gdf Suez 6.375% 09-18.01.21

7,071,405 0.77

3,300,000 Orange 5% 14-Perp 3,408,306 0.37200,000 Orange 5.25% 14-Perp 212,646 0.02

1,020,000 Rci Bq 1.375% 15-17.11.20

1,053,262 0.12

2,220,000 Renault 3.625% 13-19.09.18

2,393,404 0.26


123





Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

2,600,000 Tdf Infrast 2.875% 15-19.10.22

2,773,732 0.30

5,000,000 Total Sa 2.625% 15-29.12.49

4,545,050 0.50

500,000 Unibail Rod 2.5% 14-26.02.24

557,665 0.06

700,000 Valeo Sa 1.625% 16-18.03.26

713,195 0.08

3,400,000 Valeo Sa 3.25% 14-22.01.24

3,950,732 0.43

Germany - Deutschland 18.431,400,000 Bayer Ag 3% 14-

01.07.751,427,412 0.16

3,000,000 Crh Finance 1.75% 14-16.07.21

3,153,240 0.34

3,270,000 Daimler 1.4% 16-12.01.24

3,418,458 0.37

2,800,000 Eurogrid 1.875% 15-10.06.25

2,973,768 0.32

56,901,000 Germany 0% 15-17.04.20

57,893,922 6.30

24,260,000 Germany 1% 15-15.08.25

26,320,887 2.87

20,011,000 Germany 2.25% 11-04.09.21

22,845,558 2.49

5,226,000 Germany 2.5% 14-15.08.46

7,559,409 0.82

8,129,000 Germany 4% 05-04.01.37

13,340,502 1.45

6,917,000 Germany 5.5% 00-04.01.31

11,895,511 1.30

3,500,000 Kfw 0.05% 14-30.11.17

3,523,205 0.38

6,400,000 Kfw 0.375% 16-15.03.23

6,575,872 0.72

392,000 Kfw 1.25% 16-04.07.36

409,413 0.04

4,674,000 Merck Fin 0.75% 15-02.09.19

4,761,591 0.52

2,970,000 Sap Ag 1.75% 14-22.02.27

3,169,257 0.35

Great Britain - Großbritannien 10.503,900,000 3i Grp 5.625% 10-

17.03.174,099,797 0.45

800,000 Abbey Natl 1.125% 15-14.01.22

793,704 0.09

5,300,000 Abbey Natl 2.625% 13-16.07.20

5,676,671 0.62

2,800,000 Aviva 3.375% 15-04.12.45

2,528,680 0.28

2,060,000 Aviva Plc 6.875% (Tv)08-38 Emtn

2,239,344 0.24

3,100,000 Barclays 4% 10-20.01.17

3,198,425 0.35

2,700,000 Barclays 6.625% 11-30.03.22

3,195,045 0.35

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

485,000 Barclays Bk 8.25% 08-Perp

660,588 0.07

360,000 Bk Sctld 7.281% (Tv)01-Perp

512,817 0.06

3,437,000 Bpcm 1.573% 15-16.02.27

3,445,936 0.37

3,870,000 Britel 1.75% 16-10.03.26

3,986,371 0.43

440,000 Centrica Plc 7% 08-19.09.18

626,319 0.07

350,000 Cov Bd Soc 2.25% 12-04.12.17

360,784 0.04

2,050,000 Cs Ldn 5.125% 07-18.09.17

2,197,989 0.24

3,206,000 Easyjet 1.75% 16-09.02.23

3,333,054 0.36

2,200,000 Everything 3.25% 12-03.08.18

2,351,712 0.26

2,853,000 Fce Bk 1.114% 15-13.05.20

2,871,801 0.31

598,000 Fce Bk 1.528% 15-09.11.20

608,262 0.07

1,900,000 Fce Bk Frn 15-17.09.19

1,889,569 0.21

4,266,000 Hbos Plc 4.5% 05-18.03.30

4,676,645 0.51

2,738,000 Hsbc 3.125% 10-15.11.17

2,871,943 0.31

822,000 Hsbc Hldg 6.5% 09-20.05.24

1,269,155 0.14

100,000 Lloyds 1% 14-19.11.21 100,352 0.013,100,000 Lloyds 1.25% 15-

13.01.253,117,298 0.34

279,000 Lloyds 7% / Frn 14-Perp

335,866 0.04

400,000 Motability 1.625% 15-09.06.23

423,396 0.05

5,999,000 Nationwide 1.125% 15-03.06.22

6,001,280 0.65

1,000,000 Nationwide 1.25% 15-03.03.25

978,820 0.11

388,000 Nationwide 6.75% 10-22.07.20

459,815 0.05

2,250,000 Ngg Fin 4.25% (Frn) 13-18.06.76

2,340,877 0.25

5,100,000 Rbs 5.5% 10-23.03.20 6,068,490 0.66600,000 Rio Tinto Fin 2%

11.05.20 Emtn634,434 0.07

200,000 Smithkline 0.625% 14-02.12.19

204,038 0.02

4,300,000 Sse 1.75% 15-08.09.23

4,454,456 0.48

3,600,000 Sse 2.375% 15-Perp 3,350,880 0.362,500,000 Sse Plc 2% 13-

17.06.202,640,175 0.29

800,000 Ubs Ag Lond 0.5% 15-15.05.18

806,392 0.09

5,100,000 Ubs Ag Lond 1.125%15-30.06.20

5,283,192 0.57


124

CMIG Focus Euro BondPortfolio of Investments as at 31 March 2016 - continued






Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

2,750,000 Utd Util Wat 4.25% 05-24.01.20

3,138,520 0.34

2,700,000 Wellcome Tr 1.125%15-21.01.27

2,698,002 0.29

Ireland - Irland 2.07250,000 Fga Cap Ie 2% 14-

23.10.19257,657 0.03

3,200,000 Fga Cap Ie 4% 13-17.10.18

3,447,360 0.38

920,000 Ge Cap Eur 4.35% 06-03.11.21

1,112,317 0.12

200,000 Ge Cap Eur 6% 08-15.01.19

232,550 0.02

2,746,000 Ge Cap.Eur.Fd 4.125%06-16 Emtn

2,810,229 0.31

8,253,000 Ryanair 1.875% 14-17.06.21

8,739,102 0.95

712,000 Ryanair Ltd 1.125% 15-10.03.23

715,161 0.08

1,600,000 Swisscom Ag 1.75%15-15.09.25

1,696,304 0.18

Italy - Italien 5.8810,900,000 2i Rete Gas 1.125% 14-

02.01.2011,123,886 1.21

1,400,000 Assgen 5.5% 15-27.10.47

1,441,958 0.16

2,800,000 Atlim 2.875% 13-26.02.21

3,121,832 0.34

1,500,000 Autostrade 1.125% 15-04.11.21

1,543,665 0.17

4,900,000 Enel 5% 14-15.01.75 5,118,099 0.56520,000 Enel 6.25% 07-

20.06.19749,109 0.08

2,080,000 Eni 3.625% 14-29.01.29

2,511,787 0.27

3,400,000 Eni 4.25% 12-03.02.20 3,892,830 0.421,480,000 Intesa San 1.125% 15-

14.01.201,498,026 0.16

4,900,000 Intesa San Frn 15-15.06.20

4,910,976 0.53

2,980,000 Luxottica 3.625% 12-19.03.19

3,285,987 0.36

2,500,000 Snam 1.5% 14-21.04.23

2,631,725 0.29

6,600,000 Snam 3.5% 12-13.02.20 Emtn

7,395,234 0.80

4,200,000 Terna 0.875% 15-02.02.22

4,274,340 0.47

500,000 Unicredit 2.25% 13-16.12.16

507,320 0.06

Japan - Japan 0.464,200,000 Bk of Tokyo 0.875%

15-11.03.224,193,742 0.46

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Luxembourg - Luxemburg 4.1322,825,000 Efsf 2.75% 11-

05.12.1623,294,054 2.54

12,540,000 Eib 0.5% 14-15.09.17 12,690,731 1.381,000,000 Glencore Fin Frn 12-

03.04.181,016,720 0.11

560,000 Heidlrg 8.5% 09-31.10.19

693,683 0.07

250,000 Prologis In 2.875% 14-04.04.22

270,477 0.03

Mexico - Mexiko 0.615,600,000 Amer Movil 2.125% 16-

10.03.285,596,584 0.61

Netherlands - Niederlande 10.772,500,000 Abn Amro 2.875% 15-

30.06.252,550,775 0.28

4,900,000 Abn Amro 2.875% 16-18.01.28

4,942,679 0.54

3,400,000 Abn Amro 5.75% 15-Perp

3,249,414 0.35

5,900,000 Allianz Fin 5.75% 11-08.07.41

6,814,264 0.74

400,000 Amadeus Fin 0.625%14-02.12.17

402,408 0.04

600,000 Crh Fin 5% 12-25.01.19

679,488 0.07

2,100,000 Deut Tel If 1.5% 16-03.04.28

2,137,485 0.23

2,900,000 Dt An Fin 0.875% 15-30.03.20

2,926,593 0.32

500,000 Dt An Fin 2.125% 14-09.07.22

531,975 0.06

1,500,000 Enel Fin 1.966% 15-27.01.25

1,622,220 0.18

2,500,000 Enel Fin 5.75% 11-24.10.18

2,862,125 0.31

1,600,000 Enexis 1.5% 15-20.10.23

1,687,632 0.18

2,200,000 Gas Nat Fen 1.375%15-21.01.25

2,237,224 0.24

2,900,000 Gas Nat Fen 3.375%15-29.12.49

2,594,021 0.28

2,724,000 Gen Motors 0.85% 15-23.02.18

2,722,829 0.30

1,700,000 Iberdrola I 1.75% 15-17.09.23

1,818,456 0.20

390,000 Kon Dsm 1% 15-09.04.25

386,595 0.04

7,868,000 Netherlands 0% 15-15.04.18

7,939,599 0.86

10,985,000 Netherlands 2.25% 12-15.07.22

12,650,875 1.38

1,675,000 Netherlands 2.5% 12-15.01.33

2,154,887 0.24


125







Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

4,220,000 Netherlands 2.75% 14-15.01.47

6,234,839 0.68

6,133,000 Netherlands 3.5% 10-15.07.20

7,150,771 0.78

729,000 Netherlands 4% 05-15.01.37

1,181,673 0.13

4,661,000 Rabobank Ned. 4.75%07-06.06.22

5,796,187 0.63

2,600,000 Rabobk 1.25% 16-23.03.26

2,611,102 0.28

2,176,000 Rabobk 3.375% 10-21.04.17

2,253,248 0.25

4,169,000 Rabobk 4.125% 11-12.01.21

4,883,692 0.53

1,950,000 Swiss Life 4.375% 15-Perp

1,904,877 0.21

2,600,000 Vesteda Fin 2.5% 15-27.10.22

2,714,920 0.30

600,000 Vw Intl Fin 0.875% 15-16.01.23

579,018 0.06

500,000 Vw Intl Fin 3.75% 14-Perp

459,285 0.05

250,000 Vw Intl Fin 4.625% 14-Perp

228,772 0.03

Spain - Spanien 0.312,800,000 San Con 0.9% 15-

18.02.202,800,336 0.31

Sweden - Schweden 0.494,127,000 Shb 2.25% 13-

27.08.20 Regs4,465,043 0.49

United States - Vereinigte Staaten 4.09500,000 Americ Hond Frn 15-

11.03.19499,160 0.05

4,500,000 Apple Inc 2% 15-17.09.27

4,842,315 0.53

5,010,000 Att 1.45% 14-01.06.22 5,133,547 0.561,380,000 Bank of Ame 1.625%

15-14.09.221,414,748 0.15

500,000 Boa 4.75% 10-03.04.17

523,385 0.06

5,200,000 Citigp 1.75% 15-28.01.25

5,264,844 0.57

869,000 Coca Cola 1.125% 15-09.03.27

870,721 0.10

4,680,000 Gs 2% 15-27.07.23 4,826,157 0.533,300,000 Hj Heinz Co 2% 15-

30.06.233,441,009 0.37

600,000 Jpm 1.375% 14-16.09.21

617,754 0.07

4,224,000 Jpm Chase Co 2.75%12-24.08.22

4,683,233 0.51

400,000 Merr.Lyn &Co 7.75%08-30.04.18

566,254 0.06

3,300,000 Met Life 2.375% 12-30.09.19

3,511,695 0.38

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

100,000 Oracle 3.125% 13-10.07.25

118,348 0.01

500,000 Thermo Fish 1.5% 15-01.12.20

512,045 0.06

700,000 Verizon Com 1.625%14-01.03.24

730,975 0.08

Virgin Islands - Virgin Inseln 0.04400,000 Eastern Cre 1% 15-

19.03.18396,968 0.04

Bonds -Anleihen


Australia - Australien 0.262,100,000 Apt Pipelin 1.375% 15-

22.03.222,026,332 0.22

333,000 Ausnet Svcs 1.5% 15-26.02.27

332,161 0.04

Jersey - Jersey 0.07480,000 Qbe Cqp Fd 7.5% 11-

24.05.41653,869 0.07

Luxembourg - Luxemburg 0.595,300,000 Pentair Fin 2.45% 15-

17.09.195,415,381 0.59

Netherlands - Niederlande 0.151,400,000 Dt An Fin 4% / Ftf 14-

Perp1,379,840 0.15

United States - Vereinigte Staaten 1.16680,000 At&T Inc 2.75% 15-

19.05.23748,462 0.08

4,200,000 Att Frn 14-04.06.19 4,201,302 0.465,350,000 Verizon Com 2.625%

14-01.12.315,746,863 0.62


952,250,557 103.69


(33,871,420) (3.69)


918,379,137 100.00


126







CMIG Focus Euro Bond



SectorSektor


States, provinces and municipalities -Staats- und Kommunalanleihen 53.94Banks and financial institutions - Banken,Kreditinstitute 13.46Holding and finance companies - Holding-und Finanzgesellschaften 7.15Public services - Energie undWasserversorgung 5.83Supranational - Supranational 3.92News transmission -Nachrichtenubertragung 3.89Insurance - Versicherungen 2.71Petrol - Treibstoff 2.44Transportation - Verkehr und Transport 2.36Real estate companies - Immobilien 1.40Tobacco and spirits - Tabak undalkoholische Getranke 1.20Automobile industry - Automobilindustrie 1.14Other services - SonstigeDienstleistungen 0.84Food and distilleries - Nahrungsmittel,alkoholische Getranke 0.81Internet software - Internet, Software 0.69Office equipment, computers -Buroausstattung, Computer 0.53Photography and optics - Foto und Optik 0.36Mortgage and funding institutions -Hypotheken- und Finanzierungsinstitute 0.28Miscellaneous - Andere 0.21Chemicals - Chemie 0.20Electronics and electrical equipment -Elektrotechnik und Elektronik 0.20Precious metals - Edelmetalle 0.07Electronic semiconductor - Halbleiter 0.06


103.69


(3.69)


100.00


127




CMIG Access 80%Portfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Bonds -Anleihen


France - Frankreich 19.662,209,000 Bnpp 2.625% 10-

16.09.162,235,155 2.75

12,000,000 France 3.25% 05-25.04.16 Oat

12,025,200 14.81

1,700,000 Socgen 4% 11-20.04.16

1,702,754 2.10

Germany - Deutschland 12.335,000,000 Germany 0.25% 14-

10.06.165,006,500 6.17

5,000,000 Germany 2.75% 11-08.04.16 (Rbg)

5,001,250 6.16

Great Britain - Großbritannien 0.62500,000 Lloyds 6.375% 09-

17.06.16506,405 0.62

Netherlands - Niederlande 14.083,900,000 Abn Amro 4.25% 11-

11.04.163,902,886 4.81

3,699,000 Ing Nv 3.875% 11-24.05.16

3,718,346 4.58

1,521,000 Rabobk 3.875% 11-20.04.16

1,523,449 1.87

2,282,000 Rabobk 4.375% 09-05.05.16

2,290,352 2.82

Sweden - Schweden 4.791,579,000 Seb 3.75% 11-

19.05.161,586,184 1.96

2,300,000 Swedbank 2.375% 12-04.04.16 Gmtn

2,300,414 2.83



France - Frankreich 6.161,500,000 Bfcm 0% 15-01.06.16

Cd1,500,750 1.85

3,500,000 Bpce 0% 16-02.09.16Cd

3,502,866 4.31

Great Britain - Großbritannien 9.854,000,000 Dz Bank Ag 0% 15-

14.04.16 Cd4,000,031 4.92

4,000,000 Mits Ufj Tr 0% 16-16.05.16 Cd

4,000,869 4.93

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens



Germany - Deutschland 4.934,000,000 Dgz Dekabk 0% 16-

02.05.16 Cp4,000,356 4.93

Treasury Bills- Schatzbriefe


France - Frankreich 12.3210,000,000 France 0% 16-

01.06.16 Btf10,006,800 12.32



Ireland - Irland 9.858,000,302 Ilf Eur Cash -C.2- Eur

Dis7,994,861 9.85


76,805,428 94.59


4,396,572 5.41


81,202,000 100.00


128





CMIG Access 80%



SectorSektor


States, provinces and municipalities -Staats- und Kommunalanleihen 39.46Banks and financial institutions - Banken,Kreditinstitute 31.12Holding and finance companies - Holding-und Finanzgesellschaften 9.85Investment funds - Investmentfonds 9.85Miscellaneous - Andere 4.31


94.59


5.41


100.00


129




CMIG Access 70% FlexiblePortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien



Sa131,401 0.81


France - Frankreich 6.66532 Air Liquide 52,902 0.32

3,249 Axa 66,280 0.411,730 Bnp Paribas 76,129 0.47859 Carrefour Sa 20,762 0.13334 Essilor International 36,139 0.22

3,156 France Telecom Sa 48,429 0.302,515 Gdf Suez 34,267 0.21945 Groupe Danone 59,582 0.37378 L Oreal 59,705 0.37421 Lvmh Moet Hennessy

Eur 0.364,055 0.39

529 Safran Sa 32,814 0.20770 Saint-Gobain 29,429 0.18

1,839 Sanofi-Aventis 131,562 0.81909 Schneider Electric Sa 50,668 0.31

1,247 Ste Gen.Paris A 40,396 0.253,775 Total Sa 152,567 0.94153 Unibail-Rodamco Se 37,148 0.23862 Vinci 56,306 0.35

1,813 Vivendi 33,531 0.20

Germany - Deutschland 6.07707 Allianz Se / Nam.


1,421 Basf Namen-Akt. 94,261 0.581,280 Bayer 132,563 0.82496 Bmw-Bayer.



104,044 0.64


31,876 0.20


36,319 0.22


77,588 0.48

3,097 E.On - Namen Akt. 26,167 0.16619 Fresenius Se & Co

Kgaa39,834 0.24

258 Muenchener Rueckvers/ Namensakt

46,137 0.28

1,522 Sap Ag 108,167 0.671,242 Siemens Ag / Nam. 115,958 0.71283 Volkswagen Ag /

Vorzug.32,047 0.20

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens


Spa27,191 0.17

10,845 Enel 42,925 0.263,932 Eni Spa Roma 51,981 0.32

22,247 Intesa Sanpaolo Spa 52,992 0.338,768 Unicredit Az 27,321 0.17

Netherlands - Niederlande 1.85574 Asml Holding Nv 51,029 0.31903 Eads.Eur.Aeronaut.

Defence & Sp.52,907 0.33


63,704 0.39


36,901 0.23



Reg.86,774 0.53


57,668 0.35

9,112 Iberdrola Sa 53,560 0.331,627 Inditex 48,574 0.306,816 Telefonica Sa 67,635 0.42



France - Frankreich 0.784,249 Lyxor Etf Dj Eur.Stoxx

50126,280 0.78

Germany - Deutschland 0.754,062 Ishares Dj Euro Stoxx

50 (De)122,470 0.75

Ireland - Irland 0.743,943 Ishares Ii / Dj Euro

Stoxx 50119,670 0.74

Luxembourg - Luxemburg 0.633,231 Db X-T Djeur- 1D- 102,374 0.63

Bonds -Anleihen


France - Frankreich 29.521,700,000 France 2.5% 10-

25.07.161,715,300 10.56

3,075,000 France 3.25% 05-25.04.16 Oat

3,081,458 18.96


130





Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens


10.06.1610,013 0.06

Netherlands - Niederlande 0.0610,000 Netherlands 4% 06-

15.07.1610,125 0.06




01.06.16 Btf3,102,108 19.09

1,000,000 France 0% 16-06.04.16 Btf

1,000,020 6.15

2,100,000 France 0% 16-08.06.16 Btf

2,101,617 12.93

10,000 France 0% 16-20.04.16 Btf

10,002 0.06



France - Frankreich 0.873,252 E St50 E Uc Etf -Act-

Eur142,240 0.87

Luxembourg - Luxemburg 0.09101 Bnp P Insticash Inst. /

Cap14,225 0.09


14,722,722 90.59


1,528,566 9.41


16,251,288 100.00


131

CMIG Access 70% FlexiblePortfolio of Investments as at 31 March 2016 - continued






CMIG Access 70% Flexible



SectorSektor


States, provinces and municipalities -Staats- und Kommunalanleihen 67.87Investment funds - Investmentfonds 3.86Banks and financial institutions - Banken,Kreditinstitute 2.69Chemicals - Chemie 1.72News transmission -Nachrichtenubertragung 1.69Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 1.64Insurance - Versicherungen 1.48Petrol - Treibstoff 1.26Food and distilleries - Nahrungsmittel,alkoholische Getranke 0.96Public services - Energie undWasserversorgung 0.96Automobile industry - Automobilindustrie 0.84Tobacco and spirits - Tabak undalkoholische Getranke 0.81Various capital goods - VerschiedeneProduktionsguter 0.71Internet software - Internet, Software 0.67Holding and finance companies - Holding-und Finanzgesellschaften 0.58Electronic semiconductor - Halbleiter 0.54Construction, building materials - Bau,Baustoffe 0.53Retail - Einzelhandel und Warenhauser 0.43Textile - Textil- und Bekleidungsindustrie 0.39Electronics and electrical equipment -Elektrotechnik und Elektronik 0.31Real estate companies - Immobilien 0.23Transportation - Verkehr und Transport 0.22Graphic art, publishing - Grafik undVerlage 0.20


90.59


9.41


100.00


132






Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien



Sa307,746 0.21


France - Frankreich 1.771,247 Air Liquide 124,002 0.097,605 Axa 155,142 0.114,052 Bnp Paribas 178,308 0.122,011 Carrefour Sa 48,606 0.03783 Essilor International 84,721 0.06

7,387 France Telecom Sa 113,353 0.085,887 Gdf Suez 80,210 0.062,212 Groupe Danone 139,466 0.10885 L Oreal 139,786 0.10986 Lvmh Moet Hennessy

Eur 0.3150,020 0.10

1,238 Safran Sa 76,793 0.051,804 Saint-Gobain 68,949 0.054,307 Sanofi-Aventis 308,123 0.212,129 Schneider Electric Sa 118,670 0.082,921 Ste Gen.Paris A 94,626 0.078,837 Total Sa 357,147 0.25357 Unibail-Rodamco Se 86,680 0.06

2,019 Vinci 131,881 0.094,244 Vivendi 78,493 0.06






243,490 0.17


74,620 0.05


85,015 0.06


181,619 0.13


Kgaa93,310 0.06


108,189 0.08

3,565 Sap Ag 253,361 0.182,908 Siemens Ag / Nam. 271,502 0.19663 Volkswagen Ag /

Vorzug.75,078 0.05

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens


Spa63,645 0.04

25,388 Enel 100,486 0.079,206 Eni Spa Roma 121,703 0.09

52,078 Intesa Sanpaolo Spa 124,050 0.0920,535 Unicredit Az 63,987 0.04


Defence & Sp.123,859 0.09


149,135 0.10


86,396 0.06



Reg.203,124 0.14


135,000 0.09

21,353 Iberdrola Sa 125,513 0.093,808 Inditex 113,688 0.08

15,961 Telefonica Sa 158,381 0.11




50785,589 0.55


50 (De)779,980 0.54


Stoxx 50784,032 0.55


Bonds -Anleihen



25.07.1620,180,000 14.06

23,400,000 France 3.25% 05-25.04.16 Oat

23,449,140 16.33


133





Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens


10.06.1610,013 0.01

Netherlands - Niederlande 14.1720,100,000 Netherlands 4% 06-

15.07.1620,351,250 14.17




01.06.16 Btf18,012,240 12.55

17,800,000 France 0% 16-06.04.16 Btf

17,800,356 12.40

12,000,000 France 0% 16-08.06.16 Btf

12,009,240 8.36

10,000 France 0% 16-20.04.16 Btf

10,002 0.01




Eur774,667 0.54

Luxembourg - Luxemburg 1.5615,923 Bnp P Insticash Inst. /

Cap2,242,685 1.56


125,161,982 87.18


18,412,088 12.82


143,574,070 100.00


134

CMIG Access 80% FlexiblePortfolio of Investments as at 31 March 2016 - continued









SectorSektor


States, provinces and municipalities -Staats- und Kommunalanleihen 77.89Investment funds - Investmentfonds 4.29Banks and financial institutions - Banken,Kreditinstitute 0.70Chemicals - Chemie 0.46News transmission -Nachrichtenubertragung 0.45Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 0.43Insurance - Versicherungen 0.39Petrol - Treibstoff 0.34Food and distilleries - Nahrungsmittel,alkoholische Getranke 0.26Public services - Energie undWasserversorgung 0.26Automobile industry - Automobilindustrie 0.22Tobacco and spirits - Tabak undalkoholische Getranke 0.21Various capital goods - VerschiedeneProduktionsguter 0.19Internet software - Internet, Software 0.18Holding and finance companies - Holding-und Finanzgesellschaften 0.16Construction, building materials - Bau,Baustoffe 0.14Electronic semiconductor - Halbleiter 0.14Retail - Einzelhandel und Warenhauser 0.11Textile - Textil- und Bekleidungsindustrie 0.10Electronics and electrical equipment -Elektrotechnik und Elektronik 0.08Graphic art, publishing - Grafik undVerlage 0.06Real estate companies - Immobilien 0.06Transportation - Verkehr und Transport 0.06


87.18


12.82


100.00


135






Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens



France - Frankreich 0.0385 Lyxor Etf Dj Eur.Stoxx

502,526 0.03

Germany - Deutschland 0.04109 Ishares Dj Euro Stoxx

50 (De)3,287 0.04

Ireland - Irland 0.0255 Ishares Ii / Dj Euro

Stoxx 501,669 0.02

Luxembourg - Luxemburg 0.0495 Db X-T Djeur- 1D- 3,010 0.04

Bonds -Anleihen


France - Frankreich 28.68300,000 France 2.5% 10-

25.07.16302,700 3.76

2,000,000 France 3.25% 05-25.04.16 Oat

2,004,200 24.92


10.06.1610,013 0.12


15.07.1610,125 0.13




01.06.16 Btf1,410,959 17.54

800,000 France 0% 16-06.04.16 Btf

800,016 9.95

1,800,000 France 0% 16-08.06.16 Btf

1,801,386 22.40

200,000 France 0% 16-20.04.16 Btf

200,038 2.49

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens



France - Frankreich 0.0590 E St50 E Uc Etf -Act-

Eur3,937 0.05


Cap747,478 9.29


7,301,344 90.78


741,756 9.22


8,043,100 100.00


136








SectorSektor


States, provinces and municipalities -Staats- und Kommunalanleihen 81.31Investment funds - Investmentfonds 9.47


90.78


9.22


100.00


137




HLE Euro-Garant 80 FlexPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Shares -Aktien


Belgium - Belgien 0.25356 Anheuser-Bush Inbev

Sa39,409 0.25


France - Frankreich 2.03159 Air Liquide 15,811 0.10974 Axa 19,870 0.12519 Bnp Paribas 22,839 0.14257 Carrefour Sa 6,212 0.04100 Essilor International 10,820 0.07946 France Telecom Sa 14,516 0.09753 Gdf Suez 10,260 0.06282 Groupe Danone 17,780 0.11114 L Oreal 18,006 0.11126 Lvmh Moet Hennessy

Eur 0.319,171 0.12

158 Safran Sa 9,801 0.06231 Saint-Gobain 8,829 0.06551 Sanofi-Aventis 39,418 0.25273 Schneider Electric Sa 15,217 0.09373 Ste Gen.Paris A 12,083 0.08


258 Vinci 16,852 0.11543 Vivendi 10,043 0.06

Germany - Deutschland 1.85212 Allianz Se / Nam.


426 Basf Namen-Akt. 28,258 0.18383 Bayer 39,665 0.25148 Bmw-Bayer.


462 Daimler Ag / Namen-Akt.

31,153 0.19

639 Deutsche Bank Ag /Nam.

9,540 0.06

444 Deutsche Post Ag.Bonn

10,881 0.07


23,248 0.14

928 E.On - Namen Akt. 7,841 0.05185 Fresenius Se & Co

Kgaa11,905 0.07


13,770 0.09

456 Sap Ag 32,408 0.20372 Siemens Ag / Nam. 34,731 0.2284 Volkswagen Ag /

Vorzug.9,512 0.06

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Italy - Italien 0.38626 Assicurazioni Generali

Spa8,144 0.05

3,250 Enel 12,864 0.081,178 Eni Spa Roma 15,573 0.106,669 Intesa Sanpaolo Spa 15,886 0.102,629 Unicredit Az 8,192 0.05

Netherlands - Niederlande 0.56172 Asml Holding Nv 15,291 0.09271 Eads.Eur.Aeronaut.

Defence & Sp.15,878 0.10


19,090 0.12

441 Roy.Philips Electr. / Eur0.2

11,040 0.07

724 Unilever Cert.of Shs 28,736 0.18


Reg.26,012 0.16


17,284 0.11

2,737 Iberdrola Sa 16,088 0.10487 Inditex 14,539 0.09

2,042 Telefonica Sa 20,263 0.13




5042,589 0.27


50 (De)42,511 0.26


Stoxx 5041,519 0.26


Bonds -Anleihen



25.07.162,270,250 14.21

3,250,000 France 3.25% 05-25.04.16 Oat

3,256,825 20.39


138





Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens


10.06.1610,013 0.06


15.07.16101,250 0.64




01.06.16 Btf3,202,176 20.05

1,900,000 France 0% 16-06.04.16 Btf

1,900,038 11.89

1,500,000 France 0% 16-08.06.16 Btf

1,501,155 9.40

10,000 France 0% 16-20.04.16 Btf

10,002 0.06




Eur45,008 0.28


Cap262,666 1.65


13,647,141 85.44


2,326,245 14.56


15,973,386 100.00


139

HLE Euro-Garant 80 FlexPortfolio of Investments as at 31 March 2016 - continued









SectorSektor


States, provinces and municipalities -Staats- und Kommunalanleihen 76.70Investment funds - Investmentfonds 2.99Banks and financial institutions - Banken,Kreditinstitute 0.82Chemicals - Chemie 0.53News transmission -Nachrichtenubertragung 0.51Pharmaceuticals and cosmetics -Pharmazeutika und Kosmetik 0.50Insurance - Versicherungen 0.45Petrol - Treibstoff 0.39Food and distilleries - Nahrungsmittel,alkoholische Getranke 0.29Public services - Energie undWasserversorgung 0.29Automobile industry - Automobilindustrie 0.25Tobacco and spirits - Tabak undalkoholische Getranke 0.25Various capital goods - VerschiedeneProduktionsguter 0.22Internet software - Internet, Software 0.20Holding and finance companies - Holding-und Finanzgesellschaften 0.18Construction, building materials - Bau,Baustoffe 0.17Electronic semiconductor - Halbleiter 0.16Retail - Einzelhandel und Warenhauser 0.13Textile - Textil- und Bekleidungsindustrie 0.12Electronics and electrical equipment -Elektrotechnik und Elektronik 0.09Real estate companies - Immobilien 0.07Transportation - Verkehr und Transport 0.07Graphic art, publishing - Grafik undVerlage 0.06


85.44


14.56


100.00


140




CMI Euro Adventurous Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens



Luxembourg - Luxemburg 40.864,250 CMI Continental

European Equity ShareClass 3

114,244 14.91

966 CMI Japan EnhancedEquity Share Class 3

29,603 3.86

459 CMI Pacific BasinEnhanced Equity ShareClass 3

15,799 2.06

2,544 CMI UK Equity ShareClass 3

37,320 4.87

1,667 CMI US EnhancedEquity Share Class 3

116,151 15.16



Great Britain - Großbritannien 59.2439,776 Hbos Europ Gbp-I Gbp/

Dis114,171 14.90

7,944 Sc Wid Eme Mkt -X-Gbp/Cap

15,970 2.08

67,077 Scottish Widows Eur EqGbp-X-Acc

96,987 12.66

16,714 Scottish Widows Eur GrGbp-X-Acc

112,228 14.64

51,097 Scottish Widows Us EqGbp-X-Acc

98,962 12.91

12,655 Sw Ftl Idx Em -X- NetGbp/Cap

12,943 1.69

1,818 Sw Fun Lw Vl Id EmgMkt-X-Gbp

2,739 0.36


767,117 100.10


(769) (0.10)


766,348 100.00


141





CMI Euro Adventurous Managed Fund



SectorSektor


Investment funds - Investmentfonds 100.10


100.10


(0.10)


100.00


142




CMI Euro Balanced Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens






282,316 14.60

6,393 CMI Euro Bond ShareClass 3

306,138 15.84

4,671 CMI Euro CurrencyReserve Share Class 3

115,415 5.97

29,992 CMI Global Bond -3- 42,911 2.221,258 CMI Japan Enhanced

Equity Share Class 338,579 2.00

532 CMI Pacific BasinEnhanced Equity ShareClass 3

18,323 0.95

3,784 CMI UK Bond ShareClass 3

39,487 2.04


58,255 3.01

6,692 CMI US Bond ShareClass 3

79,520 4.11


267,388 13.83



Great Britain - Großbritannien 25.4612,676 Sc Wid Eme Mkt -X-

Gbp/Cap25,480 1.32


277,752 14.37

24,859 Scottish Widows Eur GrGbp-X-Acc

166,919 8.63


17,673 0.91


4,427 0.23

Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens

Luxembourg - Luxemburg 9.093,972 U Cmign F Eur B-Shs-3-

Eur / Dist175,658 9.09


1,946,353 100.68


(13,092) (0.68)


1,933,261 100.00


143





CMI Euro Balanced Managed Fund



SectorSektor




100.68


(0.68)


100.00


144




CMI Euro Cautious Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value EUR

Marktwert

EUR

% of Net

Assets

- % des

Nettover-

mogens



Ireland - Irland 35.55669 Ishs Cr Eu Crp Eur Shs

Etf85,913 15.34

696 Ishs Cr Eu Gov Eur ShsEur

86,457 15.43

261 Ishs Eur H Yid Co BdUci Dis

26,789 4.78



79,811 14.24


86,579 15.45

3,053 CMI Euro CurrencyReserve Share Class 3

75,441 13.47



Great Britain - Großbritannien 5.8922,820 Scottish Widows Eur Eq

Gbp-X-Acc32,996 5.89

Luxembourg - Luxemburg 15.271,934 U Cmign F Eur B-Shs-3-

Eur / Dist85,537 15.27


559,523 99.87


753 0.13


560,276 100.00


145





CMI Euro Cautious Managed Fund



SectorSektor




99.87


0.13


100.00


146




CMI Sterling Adventurous Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens





254,083 8.04

3,739 CMI Japan EnhancedEquity Share Class 3

90,605 2.86

2,391 CMI Pacific BasinEnhanced Equity ShareClass 3

65,040 2.06


476,727 15.08


471,294 14.90



Great Britain - Großbritannien 56.83604,936 Halifax Ftse All -I- 351,770 11.1340,758 Sc Wid Eme Mkt -X-

Gbp/Cap64,764 2.05

218,865 Scottish Widows Uk AllShare-X-Net Gbp Acc

466,621 14.76

174,105 Scottish Widows UkTracker B Scc

465,906 14.73


382,819 12.11


54,302 1.72


10,523 0.33


3,154,454 99.77


7,332 0.23


3,161,786 100.00


147





CMI Sterling Adventurous Managed Fund



SectorSektor




99.77


0.23


100.00


148




CMI Sterling Balanced Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens






1,293,568 4.88


586,229 2.21




248,460 0.94

303,384 CMI Sterling CurrencyReserve Share Class 3

1,493,257 5.64


1,264,188 4.77


3,920,935 14.81


518,049 1.96


3,950,042 14.92



Great Britain - Großbritannien 42.235,721,571 Halifax Ftse All -I- 3,327,094 12.56279,401 Sc Wid Eme Mkt -X-

Gbp/Cap443,968 1.68

1,806,733 Scottish Widows Uk AllShare-X-Net Gbp Acc

3,851,956 14.54


2,588,017 9.77


557,750 2.11


361,895 1.37

Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens


52,941 0.20


26,430,404 99.81


50,581 0.19


26,480,985 100.00


149





CMI Sterling Balanced Managed Fund



SectorSektor




99.81


0.19


100.00


150




CMI Sterling Cautious Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value GBP

Marktwert

GBP

% of Net

Assets

- % des

Nettover-

mogens




Luxembourg - Luxemburg 37.08827,617 CMI Sterling Currency

Reserve Share Class 34,073,534 14.25


2,313,825 8.10


4,210,328 14.73



Great Britain - Großbritannien 47.917,257,580 Halifax Ftse All -I- 4,220,283 14.77513,769 Scotisht Widows T/S

Uk Idx Link-I-C1,418,517 4.96

933,601 Scottish Widows T/SUk Fix Int /-I-Cap

2,187,426 7.65

1,962,126 Scottish Widows Uk AllShare-X-Net Gbp Acc

4,183,252 14.64


1,684,098 5.89


28,436,263 99.50


144,148 0.50


28,580,411 100.00


151





CMI Sterling Cautious Managed Fund



SectorSektor




99.50


0.50


100.00


152




CMI Dollar Adventurous Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens





184,444 15.13

2,558 CMI Japan EnhancedEquity Share Class 3

89,136 7.31


46,660 3.83


73,816 6.06


181,708 14.91

3,203 CMI US Equity ShareClass 3

185,739 15.24



Great Britain - Großbritannien 36.5910,661 Sc Wid Eme Mkt -X-

Gbp/Cap24,360 2.00


34,395 2.82

9,222 Scottish Widows Ov AmAc –X

181,532 14.90


181,180 14.87


21,344 1.75


3,064 0.25


1,207,378 99.07


11,330 0.93


1,218,708 100.00


153





CMI Dollar Adventurous Managed Fund



SectorSektor




99.07


0.93


100.00


154




CMI Dollar Balanced Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens






592,164 10.18


119,785 2.06




119,820 2.06


63,551 1.09


394,349 6.78


532,366 9.15


872,623 14.99

34,869 CMI USD CurrencyReserve Share Class 3

342,588 5.89



Great Britain - Großbritannien 41.1168,610 Hbos No Am Gbp-I-

Hbos No Am Gbp-I-441,198 7.58

43,009 Sc Wid Eme Mkt -X-Gbp/Cap

98,272 1.69


871,111 14.97


891,290 15.32


77,066 1.32

Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens


13,516 0.23


5,812,786 99.89


6,643 0.11


5,819,429 100.00


155





CMI Dollar Balanced Managed Fund



SectorSektor




99.89


0.11


100.00


156




CMI Dollar Cautious Managed FundPortfolio of Investments as at 31 March 2016


Quantity -

Anzahl

Description -


Market

Value USD

Marktwert

USD

% of Net

Assets

- % des

Nettover-

mogens



Ireland - Irland 19.993,104 Ishs Usd Co Bd Ucits

Usd Etf353,080 14.84

990 Ishs Usd Gov Usd-Ac 122,522 5.15

Luxembourg - Luxemburg 43.8626,421 CMI US Bond Share

Class 3356,871 15.00


358,228 15.05

33,454 CMI USD CurrencyReserve Share Class 3

328,683 13.81



Great Britain - Großbritannien 35.99160,964 Scottish Widows Us Eq

Gbp-X-Acc354,362 14.89

22,822 Hbos No Am Gbp-I-Hbos No Am Gbp-I-

146,759 6.16


355,483 14.94


2,375,988 99.84


3,750 0.16


2,379,738 100.00


157





CMI Dollar Cautious Managed Fund



SectorSektor




99.84


0.16


100.00


158




EXPLANATORY NOTES

. Universe, The CMI Global Network Fund, is an authorised Securities Fund formed as an open-ended Investment Company (SICAV).

. It was incorporated in Luxembourg under the laws regulating Collective Investment Schemes on 12 April 1990 and complies with theEuropean Community directive on the cross-border selling of Collective Investment Schemes (UCITS).

. The Fund is recognised by the Financial Services Authority whose rules and regulations are made under the Financial Services and Markets Act2000.

. Investors should note that the value of shares and income from them are not guaranteed and may fluctuate from time to time. Pastperformance is not necessarily a guide to future performance.

. Further information, including full terms and conditions, is available from the addresses listed overleaf.

ERLAUTERUNGEN

. Universe, The CMI Global Network Fund ist ein als offene Investmentgesellschaft (SICAV) strukturierter zugelassener Wertpapierfonds.

. Er wurde am 12. April 1990 in Luxemburg gemaß dem Gesetz uber Organismen fur gemeinsame Anlagen in Wertpapieren gegrundet underfullt die Bestimmungen der EG-Richtlinie uber den grenzuberschreitenden Verkauf von Organismen fur gemeinsame Anlagen in Wertpapieren(UCITS).

. Der Fonds untersteht der Aufsicht der Financial Services Authority, deren Bestimmungen gemaß dem Financial Services Act(Finanzdienstleistungsgesetz) von 2000 erlassen werden.

. Anleger sollten beachten, daß der Wert und die Ertrage der Aktien nicht garantiert werden und von Zeit zu Zeit schwanken konnen. Diebisherige Entwicklung lasst nicht zuverlassig auf die zukunftige Entwicklung schließen.

. Weitere Informationen konnen Sie an den Adressen auf der Ruckseite erhalten.


159

Universe, The CMI Global Network Fund - Fundsquare

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