ANIMA Funds Plc
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ANIMA Funds Plc Annual Report and Audited Financial Statements For the financial year ended 31 December 2020 ANIMA Funds Plc Contents Page Organisation 4 Background to the Company 5 Directors’ Report 8 Manager’s Report (unaudited) 12 Report of the Depositary to the Shareholders 47 Independent Auditors Report 47B Statement of Comprehensive Income 48 Statement of Financial Position 67 Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares 86 Statement of Cash Flows 105 Notes to the Financial Statements 124 Schedule of Investments 503 ANIMA Liquidity 505 ANIMA Short Term Bond 509 ANIMA Medium Term Bond 516 ANIMA Bond Dollar 519 ANIMA Global Bond 527 ANIMA Short Term Corporate Bond 533 ANIMA Europe Equity 544 ANIMA U.S. Equity 550 ANIMA Asia/Pacific Equity 558 ANIMA Global Equity Value 568 ANIMA Emerging Markets Equity 578 ANIMA Global Selection 588 ANIMA Euro Equity 596 ANIMA Global Currencies 598 ANIMA Variable Rate Bond 600 ANIMA Hybrid Bond 604 ANIMA Euro Government Bond 610 ANIMA Star High Potential Europe 619 ANIMA Star Bond 622 ANIMA Smart Volatility Europe 624 ANIMA Smart Volatility Global 626 ANIMA Smart Volatility Italy 628 ANIMA Smart Volatility USA 630 ANIMA Smart Volatility Emerging Markets 631 ANIMA Credit Opportunities 639 ANIMA Star High Potential Italy 643 ANIMA Trading Fund 651 ANIMA Active Selection 653 ANIMA Smart Dividends Europe 659 ANIMA Flexible Bond 664 ANIMA Solution 2022-I 666 ANIMA Solution 2022-II 668 ANIMA Solution 2022-III 671 ANIMA Solution 2023-I 673 ANIMA Solution EM 674 ANIMA Italian Bond 676 ANIMA Italian Equity 681 ANIMA High Yield Bond 1 ANIMA Funds Plc Contents (continued) Page Schedule of Investments (continued) ANIMA Bond 2022 Opportunities 688 ANIMA Global Macro 693 ANIMA Brightview 2023-I 698 ANIMA Brightview 2023-II 703 ANIMA Brightview 2023-III 705 ANIMA Brightview 2023-IV 707 ANIMA Brightview 2024-I 709 ANIMA Brightview 2024-II 711 ANIMA Brightview 2024-III 713 ANIMA Brightview 2024-IV 715 ANIMA Brightview 2024-V 717 ANIMA Brightview 2025-I 719 ANIMA Brightview 2027-I 721 ANIMA Brightview-II 723 ANIMA Brightview-III 725 ANIMA Brightview-IV 727 ANIMA Brightview-V 729 ANIMA Brightview-VI 731 ANIMA Brightview-VII 733 ANIMA Brightview-VIII 735 ANIMA Orizzonte Europa 2022 737 ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato 739 ANIMA Orizzonte Sostenibile 2023 741 ANIMA Orizzonte Benessere 2023 743 ANIMA Orizzonte Consumi 2023 745 ANIMA Orizzonte Energia 2023 747 ANIMA Defensive 749 ANIMA Zephyr Global 750 ANIMA Zephyr Global Allocation 752 ANIMA Zephyr New 754 ANIMA Zephyr Real Assets 757 ANIMA International Bond 760 Schedule of Material Portfolio Changes (unaudited) ANIMA Liquidity 764 ANIMA Short Term Bond 766 ANIMA Medium Term Bond 768 ANIMA Bond Dollar 770 ANIMA Global Bond 772 ANIMA Life Bond 774 ANIMA Short Term Corporate Bond 775 ANIMA Europe Equity 776 ANIMA U.S. Equity 777 ANIMA Asia/Pacific Equity 779 ANIMA Global Equity Value 780 ANIMA Emerging Markets Equity 781 ANIMA Global Selection 782 ANIMA Euro Equity 783 ANIMA Global Currencies 785 ANIMA Variable Rate Bond 786 ANIMA Hybrid Bond 787 ANIMA Euro Government Bond 789 ANIMA Star High Potential Europe 791 ANIMA Star Bond 792 ANIMA Smart Volatility Europe 793 ANIMA Smart Volatility Global 794 2 ANIMA Funds Plc Contents (continued) Page Schedule of Material Portfolio Changes (unaudited) (continued) ANIMA Smart Volatility Italy 795 ANIMA Smart Volatility USA 796 ANIMA Credit Opportunities 798 ANIMA Star High Potential Italy 799 ANIMA Trading Fund 800 ANIMA Active Selection 801 ANIMA Smart Dividends Europe 802 ANIMA Flexible Bond 803 ANIMA Flexible Income 804 ANIMA Infrastructure 805 ANIMA Solution 2022-I 806 ANIMA Solution 2022-II 807 ANIMA Solution 2022-III 808 ANIMA Solution 2023-I 809 ANIMA Solution EM 810 ANIMA Italian Bond 811 ANIMA Italian Equity 812 ANIMA High Yield Bond 814 ANIMA Bond 2022 Opportunities 816 ANIMA Global Macro 818 ANIMA Brightview 2023-I 820 ANIMA Brightview 2023-II 821 ANIMA Brightview 2023-III 822 ANIMA Brightview 2023-IV 823 ANIMA Brightview 2024-I 824 ANIMA Brightview 2024-II 825 ANIMA Brightview 2024-III 826 ANIMA Brightview 2024-IV 827 ANIMA Brightview 2024-V 828 ANIMA Brightview 2025-I 829 ANIMA Brightview 2027-I 830 ANIMA Brightview-II 831 ANIMA Brightview-III 832 ANIMA Brightview-IV 833 ANIMA Brightview-V* 834 ANIMA Brightview-VI* 835 ANIMA Brightview-VII* 836 ANIMA Brightview-VIII** 837 ANIMA Orizzonte Europa 2022 838 ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato 839 ANIMA Orizzonte Sostenibile 2023 840 ANIMA Orizzonte Benessere 2023 841 ANIMA Orizzonte Consumi 2023 842 ANIMA Orizzonte Energia 2023 843 ANIMA Defensive 844 ANIMA Zephyr Global 845 ANIMA Zephyr Global Allocation 846 ANIMA Zephyr New* 847 ANIMA Zephyr Real Assets 848 ANIMA International Bond 849 Appendix I – UCITS V Directive Annual Report Disclosures (Unaudited) 850 Appendix II – Securities Financing Transactions Regulations (Unaudited) 875 ANIMA Funds Plc 3 ANIMA Funds Plc Organisation Registered Office of the Company Directors of the Company 78 Sir John Rogerson’s Quay Andrew Bates, Chairman (Irish) Dublin 2 Rory Mason* (Irish) Ireland Pierluigi Giverso (Italian) Davide Sosio (Italian) Manager, Promoter and Distributor Agostino Ricucci (Italian, Irish resident) ANIMA SGR S.p.A. Corso Garibaldi, 99 Depositary 20121 Milan (MI) State Street Custodial Services (Ireland) Limited Italy 78 Sir John Rogerson’s Quay Dublin 2 Administrator, Registrar and Transfer Agent Ireland State Street Fund Services (Ireland) Limited 78 Sir John Rogerson’s Quay Secretary to the Company Dublin 2 Tudor Trust Limited Ireland 33 Sir John Rogerson’s Quay Dublin 2 Independent Auditors Ireland Deloitte Ireland LLP Chartered Accountants and Statutory Audit Firm Deloitte & Touche House 29 Earlsfort Terrace Dublin 2 Ireland Legal Advisor to the Company Dillon Eustace 33 Sir John Rogerson’s Quay Dublin 2 Ireland Registered No: 308009 * Independent Director ANIMA Funds Plc 4 ANIMA Funds Plc Background to the Company Description ANIMA Funds Plc (the ЉCompany”) is an open ended umbrella investment company with variable capital and segregated liability between sub-funds (each a “Fund”, collectively the “Funds”) incorporated with limited liability in Ireland under the Companies Act, 2014 with registration number 308009 and authorised under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (as amended) (the “UCITS Regulations”) and subject to the Central Bank (Supervision & Enforcement) Act 2013 (Section 48(1) (Undertakings for Collective Investment in Transferable Securities)) Regulations 2019 (the “Central Bank UCITS Regulations”). The Company is structured as an umbrella investment company in that different Funds may be established with the prior approval of the Central Bank. In addition, each Fund may issue more than one Share Class. The Shares of each class issued by a Fund will rank pari passu with each other in all respects except as to all or any of the following: - currency of denomination of the class; - hedging strategies; - dividend policy; - the level of fees and expenses to be charged; and - the minimum subscription and minimum holding applicable. The assets of each Fund will be separate from one another and will be invested in accordance with the investment objectives and policies applicable to each such Fund. The Funds in existence during the financial year were as follows: ANIMA Liquidity ANIMA Solution EM ANIMA Short Term Bond ANIMA Italian Bond ANIMA Medium Term Bond ANIMA Italian Equity ANIMA Bond Dollar ANIMA High Yield Bond ANIMA Global Bond ANIMA Bond 2022 Opportunities ANIMA Life Bond* ANIMA Global Macro ANIMA Short Term Corporate Bond ANIMA Brightview 2023-I ANIMA Europe Equity ANIMA Brightview 2023-II ANIMA U.S. Equity ANIMA Brightview 2023-III ANIMA Asia/Pacific Equity ANIMA Brightview 2023-IV ANIMA Global Equity Value ANIMA Brightview 2024-I ANIMA Emerging Markets Equity ANIMA Brightview 2024-II ANIMA Global Selection* ANIMA Brightview 2024-III ANIMA Euro Equity ANIMA Brightview 2024-IV ANIMA Global Currencies ANIMA Brightview 2024-V ANIMA Variable Rate Bond ANIMA Brightview 2025-I ANIMA Hybrid Bond ANIMA Brightview 2027-I ANIMA Euro Government Bond ANIMA Brightview-II ANIMA Star High Potential Europe ANIMA Brightview-III ANIMA Star Bond ANIMA Brightview-IV ANIMA Smart Volatility Europe ANIMA Brightview-V* ANIMA Smart Volatility Global ANIMA Brightview-VI* ANIMA Smart Volatility Italy ANIMA Brightview-VII* ANIMA Smart Volatility USA ANIMA Brightview-VIII* ANIMA Smart Volatility Emerging Markets ANIMA Orizzonte Europa 2022 ANIMA Credit Opportunities ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato ANIMA Star High Potential Italy ANIMA Orizzonte Sostenibile 2023 ANIMA Trading Fund ANIMA Orizzonte Benessere 2023 ANIMA Active Selection ANIMA Orizzonte Consumi 2023 ANIMA Smart Dividends Europe ANIMA Orizzonte Energia 2023 ANIMA Flexible Bond ANIMA Defensive ANIMA Flexible Income* ANIMA Zephyr Global ANIMA Infrastructure* ANIMA Zephyr Global Allocation ANIMA Solution 2022-I ANIMA Zephyr New* ANIMA Solution 2022-II ANIMA Zephyr Real Assets ANIMA Solution 2022-III ANIMA International Bond ANIMA Solution 2023-I * Please refer to note 22 to the financial statements for details of Fund launches and Fund terminations during the financial year. ANIMA Funds Plc 5 ANIMA Funds Plc Background to the Company (continued) Categories of Funds The Funds are detailed below under three headings as per the Prospectus: Markets Funds, Strategies Funds