GROUPAMA ENTREPRISES - caixabank.es file2 STATEMENT OF ASSETS IN EUR Statement of assets – details...

French mutual fund (Fonds Commun de Placement, FCP)

GROUPAMA

ENTREPRISES

Semi-annual report

as at 28/09/2017

Groupama Asset Management – 25 rue de la Ville l’Evêque – 75008 Paris, France

2

STATEMENT OF ASSETS IN EUR

Statement of assets – details Amount at time of

interim report*

a) Eligible financial securities described in paragraph 1, section I of Article L. 214-20 of the French

Monetary and Financial Code. 2,770,245,455.77

b) Bank assets 515,344,669.71

c) Other assets held by the UCI 430,028,102.93

d) Total assets held by the UCI (lines a + b + c) 3,715,618,228.41

e) Liabilities -18,041,211.40

f) Net asset value (lines d + e = net assets of the UCI) 3,697,577,017.01

* The amounts have been signed off

NUMBER OF UNITS OUTSTANDING AND NET ASSET VALUE PER UNIT

Unit Type of unit Net assets per

unit Number of units

outstanding Net asset value per

unit

GROUPAMA ENTREPRISES IC IC 2,936,907,122.16 1,285,268.42300 2,285.05

GROUPAMA ENTREPRISES M M 685,846,220.14 654,807.08400 1,047.40

GROUPAMA ENTREPRISES N N 69,090,147.72 122,291.64810 564.96

GROUPAMA ENTREPRISES ID O 5,733,526.99 576.12730 9,951.84

3

SECURITIES PORTFOLIO ITEMS

Securities portfolio items Percentage of

net assets * Total

percentage of

assets **

A) Eligible financial securities and money market instruments admitted to trading on a

regulated market, within the meaning of Article L. 422-1 of the French Monetary and

Financial Code.

74.92 74.56

And B) Eligible financial securities and money market instruments admitted to trading on another regulated market that operates regularly, is recognised, open to the public and

has its registered office in a Member State of the European Union or in another State

party to the agreement on the European Economic Area.

C) Eligible financial securities and money market instruments admitted to official listing on

a stock exchange in a third country or traded on another market in a third country that is

regulated, operates regularly, recognised and open to the public, provided that said stock

exchange or market does not appear on the list drawn up by the Autorité des marchés

financiers (French Financial Markets Authority – AMF) or that the selection of said stock

exchange or market is made in accordance with the law or the regulations or the Articles

of Association of the undertaking for collective investment in transferable securities.

D) Newly issued eligible financial securities described in paragraph 4, section I of Article

R. 214-11 of the French Monetary and Financial Code.

E) Other assets: These are assets described in section II of Article R. 214-11 of the French

Monetary and Financial Code.

* Please refer to f) in the statement of assets

** Please refer to d) in the statement of assets

4

BREAKDOWN OF ASSETS A), B), C), D) OF THE SECURITIES PORTFOLIO, BY CURRENCY

Securities Currency Amount (EUR) Percentage of

net assets *

Total percentage of

assets **

Euro EUR 2,770,245,455.77 74.92 74.56

TOTAL 2,770,245,455.77 74.92 74.56



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BREAKDOWN OF ASSETS A), B), C), D) IN THE SECURITIES PORTFOLIO, BY ISSUER COUNTRY

OF RESIDENCE

Country Percentage of

net assets *

Total percentage of

assets **

France 30.07 29.93

Ireland 12.72 12.66

Germany 5.41 5.39

United Kingdom 5.14 5.12

Denmark 5.14 5.11

Netherlands 4.54 4.52

Italy 3.79 3.77

Belgium 3.77 3.76

Spain 2.70 2.69

Luxembourg 1.62 1.62

TOTAL 74.92 74.56



6

DISTRIBUTION OF OTHER ASSETS E) OF THE SECURITIES PORTFOLIO, BY TYPE

Type of assets Percentage of

net assets *

Total percentage of

assets **

Undertakings for collective investment

Retail UCITS and AIFs intended for non-professional investors and equivalents

from other countries

Other funds intended for non-professional investors and equivalents from other

EU Member States

Professional investment funds and equivalents from other EU Member States and listed special purpose vehicles

Other professional investment funds and equivalents from other EU Member

States and unlisted special purpose vehicles

Other non-European undertakings

Other

TOTAL



7

CHANGES IN THE SECURITIES PORTFOLIO DURING THE PERIOD IN EUR

Securities portfolio items Changes (amount)

Purchases Sales

A) Eligible financial securities and money market instruments admitted to trading on a

regulated market, within the meaning of Article L. 422-1 of the French Monetary and

Financial Code.

3,896,945,000.05 3,904,242,632.55

And B) Eligible financial securities and money market instruments admitted to trading on

another regulated market that operates regularly, is recognised, open to the public and

has its registered office in a Member State of the European Union or in another State

party to the agreement on the European Economic Area.

C) Eligible financial securities and money market instruments admitted to official listing on

a stock exchange in a third country or traded on another market in a third country that is

regulated, operates regularly, recognised and open to the public, provided that said stock

exchange or market does not appear on the list drawn up by the Autorité des marchés

financiers (French Financial Markets Authority – AMF) or that the selection of said stock

exchange or market is made in accordance with the law or the regulations or the Articles

of Association of the undertaking for collective investment in transferable securities.

40,001,138.80 105,702,272.20

D) Newly issued eligible financial securities described in paragraph 4, section I of Article

R. 214-11 of the French Monetary and Financial Code.

E) Other assets: These are assets described in section II of Article R. 214-11 of the French

Monetary and Financial Code.

DISTRIBUTION DURING THE PERIOD

Unit

Net amount per

unit

€

Tax credit

(1)

€

Gross amount per

unit (2)

€

Dividends paid

GROUPAMA ENTREPRISES ID

Dividends payable

GROUPAMA ENTREPRISES ID

(1) The tax credit per unit will not be determined until the dividend payment date, in accordance with the tax regulations in

force.

(2) The gross amount per unit will not be determined until the dividend payment date, in accordance with the tax regulations in force.

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GENERAL INFORMATION

Custodian: Caceis Bank – 1-3 place Valhubert – 75013 – Paris, France

The itemised semi-annual statement of assets is available within eight weeks of the end of the period. It is available on

request from the management company:

Groupama Asset Management – 25 rue de la Ville l’Evêque – 75008 – Paris, France

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TRANSPARENCY OF SECURITIES FINANCING TRANSACTIONS AND OF THE REUSE OF

FINANCIAL INSTRUMENTS – SFTR REGULATION – in the accounting currency of the UCI (EUR)

Securities

lending Securities

borrowing Repurchase

agreements

Reverse repurchase agreements

TRS

a) Securities and commodities lending

Amount

% of net assets*

*% excluding cash and cash equivalents

b) Assets committed for each type of securities financing transaction and TRS, expressed in terms of

absolute value

Amount 299,908,788.51

% of net assets 8.11%

c) Top 10 issuers of collateral received (excluding cash) for all types of financing transactions

CREDIT AGRICOLE SA

LONDON BRANCH

UNITED KINGDOM

297,888,888.50

d) Top 10 counterparties in terms of absolute value of assets and liabilities without offsetting CACEIS BANK LUXEMBOURG

LUXEMBOURG 299,908,788.51

e) Type and quality of collateral

Type

- Equities

- Bonds 297,888,888.50

- UCIs

- Negotiable debt securities

- Cash

Rating

Collateral currency

- EURO 297,888,888.50

f) Settlement and offsetting of contracts

Tripartite

Central counterparty

Bilateral X X

10

Securities

lending

Securities


agreements Reverse

repurchase

agreements TRS

g) Collateral maturity broken down by tranche

Less than one day

1 day to 1 week

1 week to 1 month

1 to 3 months

3 months to 1 year

More than one year 297,888,888.50

Open-ended

h) Maturity of securities financing transactions and TRS broken down by tranche

Less than one day

1 day to 1 week 299,908,788.51

1 week to 1 month

1 to 3 months

3 months to 1 year

More than one year

Open-ended

i) Data on the reuse of collateral

Maximum amount (%)

Amount used (%)

Income for the UCI following reinvestment of cash

collateral in EUR

j) Data on the custody of collateral received by the UCI

Caceis Bank

Securities 297,888,888.50

Cash

k) Data on the custody of collateral provided by the UCI

Securities

Cash

11

Securities

lending Securities


agreements

Reverse

repurchase

agreements

TRS

l) Data on income and costs, broken down

Income

- UCIs -51.49

- Manager

- Third parties

Costs

- UCIs 396,975.80

- Manager

- Third parties

e) Data on the type and quality of collateral Groupama Asset Management prefers to only accept securities with a high credit quality and to enhance the value of its

collateral by applying valuation discounts to the securities received.

This system is regularly reviewed and updated.

i) Data on the reuse of collateral Collateral received in cash is reinvested in the following five vehicles:

o Short-term money market funds (as defined by ESMA in its guidelines on listed funds and other issues related to UCITS)

o Deposits

o High-quality long-term government securities

o High-quality short-term government securities

o Reverse repurchase agreements

The maximum reuse amount is 0% for securities and 100% of the amount received for cash.

The amount used is 0% for securities and 100% for cash received.

k) Data on the custody of collateral provided by the UCI Groupama Asset Management prefers to work with a small number of custodians, selected to ensure proper custody of the

securities and cash received.

l) Data on income and costs, broken down Any proceeds resulting from temporary purchases and sales of securities are paid to the UCI, net of operational costs.

Temporary sales of securities are made with market counterparties through the intermediary of Groupama Asset

Management.

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SECURITIES PORTFOLIO AS AT 28/09/2017 IN EUR

Security name Currency

Quantity

or nominal

value

Current value % Net

assets

Deposits

DEPOT -0.1% 06-11-17 EUR 130,000,000 129,881,194.44 3.51

TOTAL Deposits 129,881,194.44 3.51

Bonds and equivalent securities

Bonds and equivalent securities traded on a regulated or equivalent market

ITALY

UBI BANCA UNIONE DI BANCHE ITALIANE E3R+0.32%

09-11-17

EUR 50,000,000 50,007,777.78 1.35

TOTAL ITALY 50,007,777.78 1.35

TOTAL Bonds & equiv. securities traded on reg. or

equiv. markets

50,007,777.78 1.35

TOTAL Bonds and equivalent securities 50,007,777.78 1.35

Debt securities

Debt securities traded on a regulated or equivalent market GERMANY

METR WHOL FOOD SPE ZCP 11-12-17 EUR 10,000,000 10,000,859.11 0.27

METR WHOL FOOD SPE ZCP 15-12-17 EUR 20,000,000 20,001,809.70 0.54

TOTAL GERMANY 30,002,668.81 0.81

BELGIUM

BARR CALL SERV NV ZCP 01-12-17 EUR 20,000,000 20,005,427.14 0.54

VOLKSWAGEN GROUP SERVICES SA 040518 FIX 0.035 EUR 23,500,000 23,511,178.20 0.64



TOTAL BELGIUM 103,539,594.11 2.80

DENMARK

JYSKE BANK DNK 090518 OIS 0.1 EUR 30,000,000 29,975,054.21 0.81





TOTAL DENMARK 189,883,968.53 5.14

FRANCE

BANQ P OIS+-0.02% 20-11-17 EUR 30,000,000 29,986,783.30 0.81

BANQUE PALATINE 050118 OIS 0.19 EUR 17,000,000 16,990,756.35 0.46







13

SECURITIES PORTFOLIO AS AT 28/09/2017 IN EUR (continued)


Quantity

or nominal

value

Current value % Net

assets

BNP PARIBAS 010818 OIS 0.08 EUR 20,000,000 19,991,078.31 0.54



BPCE OIS+0.25% 06-10-17 EUR 50,000,000 49,951,737.32 1.35

BPCE 060618 OIS 0.08 EUR 20,000,000 19,983,959.47 0.54

BPCE 090818 OIS 0.11 EUR 50,000,000 49,992,378.81 1.35

CA CONSUMER FINANCE 231117 FIX -0.38 EUR 20,000,000 20,011,622.46 0.54

CASINO GUICHARD PERRACHON 041017 FIX 0.11 EUR 30,000,000 29,999,541.80 0.81






CFCM MAINE ANJOU BASSE NORMANDIE 021117 EUR 25,000,000 24,968,864.35 0.68

CFCM MAINE ANJOU BASSE NORMANDIE 150218 OIS 0.12 EUR 10,000,000 9,989,565.45 0.27

CFCM NORD EUROPE 211117 OIS -0.02 EUR 10,000,000 9,995,909.33 0.27

ELECTRICITE DE FRANCE EDF 291117 FIX -0.355 EUR 75,000,000 75,045,155.75 2.02

ELIS SA (EX HOLDELIS SA) 041017 FIX 0.33 EUR 7,000,000 6,999,660.77 0.19




ENGIE SA 170118 OIS 0.04 EUR 16,600,000 16,589,167.22 0.45

GENE OIS+0.21% 27-02-18 EUR 5,000,000 5,001,659.52 0.14

LE NOBLE AGE 071117 FIX 0.03 EUR 2,000,000 1,999,935.01 0.05

NATIXIS 030818 OIS 0.1 EUR 30,000,000 29,991,031.77 0.81

PERNOD RICARD 220118 FIX -0.195 EUR 30,000,000 30,019,395.13 0.81

RENAULT CREDIT I 240718 FIX -0.21 EUR 20,000,000 20,039,693.69 0.54

RENAULT SA 051217 FIX -0.315 EUR 10,000,000 10,005,867.14 0.27







SAVENCIA SA 091117 FIX -0.175 EUR 10,000,000 10,001,993.94 0.27

SAVENCIA SA 141117 FIX -0.18 EUR 15,000,000 15,003,451.58 0.41

SOCIETE GENERALE 021117 FIX -0.36 EUR 50,000,000 50,017,010.79 1.34

UNION FINANCES GRAINS (UFG) 161017 FIX -0.28 EUR 1,500,000 1,500,198.38 0.04


14



Quantity

or nominal

value

Current value % Net

assets



VALEO SA 201117 FIX -0.345 EUR 10,000,000 10,004,987.61 0.27

VALEO SA 201217 FIX -0.345 EUR 14,800,000 14,811,639.59 0.40

ZODIAC AEROSPACE 090218 FIX 0.155 EUR 10,000,000 9,997,902.93 0.27





TOTAL FRANCE 1,111,928,710.57 30.07

ITALY

UNICREDIT SPA 061017 FIX -0.02 EUR 30,000,000 30,001,692.90 0.81

UNICREDIT SPA 120118 OIS 0.35 EUR 40,000,000 40,043,555.80 1.09

UNICREDIT SPA 260118 FIX 0.0 EUR 20,000,000 20,020,533.90 0.54

TOTAL ITALY 90,065,782.60 2.44

LUXEMBOURG

MEDI INTL LUX ZCP 25-05-18 EUR 30,000,000 30,035,152.15 0.81

MEDIOBANCA INTERNATIONAL (LUX) 100918 FIX -0.14 EUR 30,000,000 30,040,661.26 0.81

TOTAL LUXEMBOURG 60,075,813.41 1.62

UNITED KINGDOM

BARCLAYS BANK PLC 171117 OIS 0.18 EUR 30,000,000 29,976,111.42 0.81

BARCLAYS BANK PLC 310518 OIS 0.23 EUR 50,000,000 50,025,029.51 1.35

TOTAL UNITED KINGDOM 80,001,140.93 2.16

TOTAL Debt securities traded on reg. or equiv. markets 1,665,497,678.96 45.04

Debt securities not traded on a regulated or equivalent market

GERMANY

DEUTSCHE BANK AG 040718 FIX -0.09 EUR 30,000,000 30,029,141.72 0.81

DEUTSCHE BANK AG 050218 FIX 0.195 EUR 20,000,000 20,016,227.53 0.54





TOTAL GERMANY 170,167,177.01 4.61

BELGIUM

VOLKSWAGEN GROUP SERVICES SA 131017 FIX EUR 16,000,000 16,001,151.65 0.43

VOLKSWAGEN GROUP SERVICES SA 251017 FIX EUR 20,000,000 20,002,673.48 0.54

TOTAL BELGIUM 36,003,825.13 0.97

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Quantity

or nominal

value

Current value % Net

assets

SPAIN

BANCO SANTANDER S.A 051017 FIX -0.36 EUR 100,000,000 100,006,002.57 2.70

TOTAL SPAIN 100,006,002.57 2.70

IRELAND

ARABELLA FINANCE LTD 131217 FIX -0.22 EUR 30,000,000 30,013,757.64 0.81



INTESA SANPAOLO BANK IRELAND PLC 030518 FIX -0.03 EUR 50,000,000 50,070,407.53 1.36

INTESA SANPAOLO BANK IRELAND PLC 050118 FIX 0.01 EUR 30,000,000 30,026,695.25 0.81


INTESA SANPAOLO BANK IRELAND PLC 070918 EUR 30,000,000 30,047,782.60 0.81






TOTAL IRELAND 470,438,926.02 12.73

NETHERLANDS

IBERDROLA INTERNATIONAL BV 221117 FIX -0.365 EUR 25,000,000 25,013,695.86 0.68

INTERNATIONAL ENDESA BV 201017 FIX -0.265 EUR 53,000,000 53,008,198.45 1.43

TELEFONICA EUROPE BV 071117 FIX -0.345 EUR 10,000,000 10,003,739.46 0.27

VOLKSWAGEN INTER 120218 FIX 0.145 EUR 20,000,000 20,001,061.11 0.54

VOLKSWAGEN INTER 220218 FIX 0.145 EUR 30,000,000 30,000,741.09 0.81

VOLKSWAGEN INTERN 010218 FIX 0.1475 EUR 30,000,000 30,001,664.49 0.81

TOTAL NETHERLANDS 168,029,100.46 4.54

UNITED KINGDOM

DEUT BANK AG LOND ZCP 05-01-18 EUR 30,000,000 30,020,684.85 0.81


ROYAL BANK OF SCOTLAND PLC 110118 FIX -0.27 EUR 50,000,000 50,044,467.99 1.36


TOTAL Debt securities not traded on a reg. or equiv.

mkt 1,054,739,999.03 28.53

TOTAL Debt securities 2,720,237,677.99 73.57

Securities received under repurchase agreements

UNITED KINGDOM

CRED AGRI LON 1.24% 02-12-22 EUR 35,100,000 37,074,788.51 1.00

CREDIT AGRICOLE LONDON 1.168% 18-01-23 EUR 250,000,000 262,834,000.00 7.11


TOTAL Securities received under repurchase

agreements 299,908,788.51 8.11

Charges for securities received under repurchase agreements -3,007.42

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Security name Currency Quantity

or nominal

value

Current value % Net

assets

Forward financial instruments

Other forward financial instruments

Interest-rate swaps

OIS/0.0/FIX/-0.335 EUR 20,000,000 -3,960.00

OIS/0.0/FIX/-0.336 EUR 30,000,000 -5,310.00

OIS/0.0/FIX/-0.336 EUR 40,000,000 -7,240.00

OIS/0.0/FIX/-0.338 EUR 20,000,000 -3,640.00

OIS/0.0/FIX/-0.346 EUR 30,000,000 -2,070.00

TOTAL Interest-rate swaps -22,220.00

TOTAL Other forward financial instruments -22,220.00

TOTAL Forward financial instruments -22,220.00

Receivables 241,127.40 0.01

Debts -18,018,991.40 -0.49

Financial accounts 515,344,669.71 13.94

Net assets 3,697,577,017.01 100.00

GROUPAMA ENTREPRISES - caixabank.es file2 STATEMENT OF ASSETS IN EUR Statement of assets – details...

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