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

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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

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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 and Solution Funds.

• Markets Funds: means a traditional bond or equity type Fund, which seeks to achieve its objective through investment in transferable securities and financial derivative instruments. • Strategies Funds: means a Fund the policy of which has been formulated with a view to following a particular trading or investment strategy. • Solution Funds: means a Fund, the policy of which has been formulated with a view to providing investment solutions over a specific timeframe.

Markets Funds

ANIMA Liquidity ANIMA Emerging Markets Equity ANIMA Short Term Bond ANIMA Global Selection* ANIMA Medium Term Bond ANIMA Euro Equity ANIMA Bond Dollar ANIMA Global Currencies ANIMA Global Bond ANIMA Variable Rate Bond ANIMA Life Bond* ANIMA Hybrid Bond ANIMA Short Term Corporate Bond ANIMA Euro Government Bond ANIMA Europe Equity ANIMA Italian Bond ANIMA U.S. Equity ANIMA Italian Equity ANIMA Asia/Pacific Equity ANIMA High Yield Bond ANIMA Global Equity Value ANIMA International Bond

Solution Funds

ANIMA Solution 2022-I ANIMA Brightview-II ANIMA Solution 2022-II ANIMA Brightview-III ANIMA Solution 2022-III ANIMA Brightview-IV ANIMA Solution 2023-I ANIMA Brightview-V* ANIMA Bond 2022 Opportunities ANIMA Brightview-VI* ANIMA Brightview 2023-I ANIMA Brightview-VII* ANIMA Brightview 2023-II ANIMA Brightview VIII* ANIMA Brightview 2023-III ANIMA Orizzonte Europa 2022 ANIMA Brightview 2023-IV ANIMA Orizzonte Europa 2023 - ANIMA Brightview 2024-I Rendimento Bilanciato ANIMA Brightview 2024-II ANIMA Orizzonte Sostenibile ANIMA Brightview 2024-III 2023 ANIMA Brightview 2024-IV ANIMA Orizzonte ANIMA Brightview 2024-V Benessere 2023 ANIMA Brightview 2025-I ANIMA Orizzonte Consumi 2023 ANIMA Brightview 2027-I ANIMA Orizzonte Energia 2023

Strategies Funds

ANIMA Star High Potential Europe ANIMA Smart Dividends Europe ANIMA Star Bond ANIMA Flexible Bond ANIMA Smart Volatility Emerging Markets ANIMA Flexible Income* ANIMA Smart Volatility Europe ANIMA Infrastructure* ANIMA Smart Volatility Global ANIMA Solution EM ANIMA Smart Volatility Italy ANIMA Global Macro ANIMA Smart Volatility USA ANIMA Defensive ANIMA Credit Opportunities ANIMA Zephyr Global ANIMA Star High Potential Italy ANIMA Zephyr Global Allocation ANIMA Trading Fund ANIMA Zephyr New* ANIMA Active Selection ANIMA Zephyr Real Assets

* Please refer to note 22 to the financial statements for details of Fund launches and Fund terminations during the financial year.

ANIMA Funds Plc 6 ANIMA Funds Plc Background to the Company (continued)

Segregated Liability

The Company is structured as an open-ended umbrella investment company with segregated liability between its Funds. While the provisions of the Companies Act, 2014, as amended provide for segregated liability between Funds, these provisions have not been tested in foreign courts, in particular in satisfying local creditors’ claims. Accordingly it is not free from doubt that the assets of any Fund of the Company may not be exposed to the liabilities of other Funds.

Investment Objectives

Please refer to the Prospectus for each Fund’s investment objectives and policies.

Manager

The Company has appointed ANIMA SGR S.p.A. as manager of the Company (the ЉManagerЉ) pursuant to the Management Agreement. Under the terms of the Management Agreement the Manager is responsible, subject to the overall supervision and control of the Directors, for the management, investment management and administration of the Company’s affairs, and the distribution of Shares.

ANIMA SGR S.p.A. is regulated as a funds management company by Bank of Italy and is a 100% direct subsidiary of ANIMA Holding S.p.A.. Ordinary shares of ANIMA Holding S.p.A. are listed on the MTA (Mercato Telematico Azionario) of the Italian Stock Exchange.

Net Asset Value

The Net Asset Value of a Fund is determined by valuing the assets of each relevant Fund (including income accrued but not collected) and deducting the liabilities of each relevant Fund (including a provision for duties and charges, accrued expenses and fees and other liabilities). The Net Asset Value of a class is determined by calculating that portion of the Net Asset Value of the relevant Fund attributable to the relevant class subject to adjustment to take account of assets and/or liabilities attributable to the Class. The Net Asset Value of a Fund is expressed in the base currency of the Fund. The base currency of each Fund may vary as a result of the primary economic environment in which it operates.

The Net Asset Value per Share is calculated by dividing the Net Asset Value of the relevant Fund or Class by the total number of Shares in issue in the Fund or Class at the relevant Valuation Point rounded to four decimal places.

Issue and Redemption of Shares

Issue of Shares

Applications for Shares should be made to the Administrator or to the Distributor for onward transmission to the Administrator. Applications received by the Administrator or by the Distributor prior to the Dealing Deadline for any Dealing Day are dealt with on that Dealing Day. Any applications received after the Dealing Deadline will be dealt with on the following Dealing Day unless the Directors in their absolute discretion determine otherwise provided that the application is received before the Valuation Point. Minimum Subscription amounts are disclosed in the Fund or Class Information Card in the Prospectus.

Redemption of Shares

Applications for the redemption of Shares are made to the Administrator or to the Distributor for onward transmission to the Administrator. Requests for redemptions received prior to the Dealing Deadline for any Dealing Day are dealt with on that Dealing Day. Any requests for redemptions received after the Dealing Deadline for a Dealing Day will be dealt with on the next Dealing Day unless the Directors in their absolute discretion determine otherwise provided that the application is received before the Valuation Point. Redemption requests will only be accepted where cleared Funds and completed documents are in place for original subscriptions. There is no minimum redemption transaction size for any Class of Share in any Fund. Shareholders should note that if a redemption request would, if processed, leave the Shareholder holding Shares having a Net Asset Value of less than the Minimum Holding, the Directors may, in their discretion, redeem the whole of the Shareholder’s holding. The redemption price per Share shall be the Net Asset Value per Share less applicable duties and charges.

Published Information

The Net Asset Value per Share is made available at the registered office of the Administrator during normal business hours and at the following website www.animafunds.ie not later than the third Business Day following the relevant Valuation Point. The Prospectus also allows for publication in such other places as may be determined by the Directors from time to time. The Directors of the Company have approved the daily publication of the Net Asset Value per Share in “Il Sole-24 Ore” (Italian daily newspaper).

ANIMA Funds Plc 7 ANIMA Funds Plc Directors’ Report

The Directors submit their report together with the audited financial statements of the Company for the financial year ended 31 December 2020.

Statement of Directors’ Responsibilities The Directors are responsible for preparing the Directors’ report and the financial statements in accordance with Irish law. Irish law requires the Directors to prepare financial statements for each financial year that gives a true and fair view of the Company’s assets, liabilities and financial position as at the end of the financial year and of the profit or loss of the Company for the financial year. Under that law the Directors have prepared the financial statements in accordance with International Financial Reporting Standards and Irish law.

Under Irish law, the Directors shall not approve the financial statements unless they are satisfied that they give a true and fair view of the Company’s assets, liabilities and financial position as at the end of the financial year and the profit or loss of the Company for the financial year.

In preparing these financial statements, the Directors are required to: • select suitable accounting policies and then apply them consistently; • make judgements and estimates that are reasonable and prudent; • state whether the financial statements have been prepared in accordance with applicable accounting standards and identify the standards in question, subject to any material departures from those standards being disclosed and explained in the notes to the financial statements; and • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors are responsible for keeping proper books of account that disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2014, as amended.

The Directors confirm that they believe that they have complied with the above requirements in preparing the financial statements.

The Directors are responsible for the maintenance and integrity of the corporate and financial information relating to the Company which may be included on the Manager’s website. Legislation in the Republic of Ireland governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In carrying out the above requirements the Company has appointed ANIMA SGR S.p.A. as Manager of the Company (the “Manager”) and the Manager has appointed State Street Fund Services (Ireland) Limited to act as administrator (the “Administrator”) of the Company.

The Directors are also responsible for safeguarding the assets of the Company. In this regard they have appointed State Street Custodial Services (Ireland) Limited (the “Depositary”) as depositary to the Company pursuant to the terms of a depositary agreement. The Directors have a responsibility for taking such steps as are reasonably open to them to prevent and detect fraud and other irregularities. The Directors believe that they have complied with the requirements of the Companies Act, 2014, as amended, with regard to accounting records by employing an experienced administrator with appropriate expertise and by providing adequate resources to the financial function. The accounting records of the Company are maintained by the Administrator at 78 Sir John Rogerson’s Quay, Dublin 2, Ireland.

Compliance statement The Directors acknowledge that they are responsible for securing compliance by the Company with its Relevant Obligations as defined with the Companies Act 2014 (the “Relevant Obligations”). The Directors confirm that they have drawn up and adopted a compliance policy statement setting out the Company’s policies that, in the Directors’ opinion, are appropriate to the Company in respect of its compliance with its Relevant Obligations.

The Directors further confirm the Company has put into place appropriate arrangements or structures that are, in the Directors’ opinion, designed to secure material compliance with its Relevant Obligations and that measures have been taken throughout the financial year to which this Report relates to meet and satisfy the Company’s compliance with the Relevant Obligations.

Relevant audit information The Directors have taken all the steps that they ought to have taken as Directors in order to make themselves aware of any relevant audit information and to ensure that the Company’s Statutory Auditors are aware of this information.

Audit Committee The Company has not established a separate Audit Committee as the Directors operate as a unitary Board whilst considering such related matters. The Directors believe that the Company’s straightforward structure together with the delegation of responsibilities to the Manager does not warrant such a function. This is reviewed by the Board annually.

ANIMA Funds Plc 8 ANIMA Funds Plc Directors’ Report (continued)

Transactions with Connected Persons Regulation 43(1) of the Central Bank UCITS Regulations “Restrictions of transactions with connected persons” states that “A responsible person shall ensure that any transaction between a UCITS and a connected person is conducted a) at arm’s length; and b) in the best interest of the unit-holders of the UCITS”.

As required under Central Bank UCITS Regulation 81.(4), the Directors, as responsible persons, are satisfied that there are arrangements in place, evidenced by written procedures, to ensure that the obligations that are prescribed by Regulation 43(1) are applied to all transactions with a connected person; and all transactions with connected persons that were entered into during the period to which the report relates complied with the obligations that are prescribed by Regulation 43(1).

Employees There were no persons employed by the Company during the financial year.

Review of performance of the business, principal activities and future developments of the business A detailed performance review of the business, the Funds’ principal activities and future developments is included in the Manager’s Report for each Fund.

Principal risks and uncertainties Under Companies Act 2014, as amended, the Company is required to give a description of the principal risks and uncertainties which it faces. Investment in the Company carries with it a degree of risk, including, but not limited to, the risks referred to below and in Notes 2 and 3 of these Financial Statements. Information about the financial risk management objectives and policies of the Company is also discussed in Notes 2 and 3.

The principal risks and uncertainties facing the Company include Market risk, Credit risk and Liquidity risk. These risks should not be regarded as a complete and comprehensive statement of all potential risks and uncertainties. The Prospectus issued by the Company discloses a variety of other risks and uncertainties which investors should consider before investing. Other risks may arise of which the Board is not aware or which it deems immaterial.

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risks: currency risk, interest rate risk and other price risk. Market risks are referred to in Note 3 of these Financial Statements.

Credit risk is the risk that the issuer or the counterparty of a financial instrument will be unable to pay amounts in full when they fall due. Credit risk comprises two types of risks: issuer risk and counterparty risk.

All securities, cash at bank balances are held by the Depositary, State Street Custodial Services (Ireland) Limited. Bankruptcy or insolvency of the Depositary, State Street Custodial Services (Ireland) Limited, may cause the Company’s rights with respect to cash and securities held by these entities to be delayed or limited and the Company would be treated as a general creditor of that entity in respect of its cash balances. Periodic monitoring and an annual review are performed on the Depositary by an outsourcing monitoring team of the Manager. This review may include as appropriate an assessment of the Depositary’s liquidity position, income streams, asset quality and credit ratings. Credit risk is referred to in Note 3 of these Financial Statements.

Liquidity risk is the risk that the Funds will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial assets. Delivery obligation may arise from: account payable (i.e.management fees, depositary fees, etc.), financial derivative instruments, cash redemptions of redeemable participating shares. Liquidity risks are referred to in Note 3 of these Financial Statements.

COVID-19 Beginning in January 2020, global financial markets have experienced significant volatility resulting from the spread of a novel coronavirus known as COVID-19. The outbreak of COVID-19 resulted in travel and border restrictions, quarantines, supply chain disruptions, lower consumer demand and general market uncertainty. The effects of COVID-19 has adversely affected the economies of the entire world.

Going Concern The Directors have made an assessment of the Company and its sub-funds’ ability to continue as a going concern and are satisfied that the Company and its sub-funds’ will continue in business for the foreseeable future. Notwithstanding the challenging global financial environment, the management is not aware of any material uncertainties that may cast doubt upon the Company and its sub-funds’ ability to continue as a going concern. Therefore the financial statements continue to be prepared on a going concern basis. The Directors consider that the financial statements taken as a whole are fair, balanced and understandable.

Accordingly, having assessed its principal risks, the Directors of the Company believe that the Company is well placed to manage its risks successfully and it is thus appropriate to prepare the financial statements on a going concern basis. The Company does not have a fixed life. The Directors of the Company consider that the financial statements taken as a whole are fair, balanced and understandable and they provide the information necessary for the shareholder to assess the Company’s position, performance, business model and strategy.

ANIMA Funds Plc 9 ANIMA Funds Plc Directors’ Report (continued)

Going Concern (continued) The Directors of the Company do not believe that there is any material uncertainty that casts any doubts on the Company’s ability to continue as a going concern.

Results and distributions The results and distributions for the financial year are set out in the Statement of Comprehensive Income for each Fund.

Distribution Policy The Articles of Association of the Company empower the Directors to declare dividends in respect of any Shares in the following Funds out of the net income, realised gains or capital standing to the credit account of the Fund:

ANIMA Life Bond ANIMA Brightview 2024-IV ANIMA Variable Rate Bond ANIMA Brightview 2024-V ANIMA Credit Opportunities ANIMA Brightview 2025-I ANIMA Star Bond ANIMA Brightview 2027-I ANIMA Active Selection ANIMA Brightview-II ANIMA Smart Dividends Europe ANIMA Brightview-III ANIMA Flexible Income ANIMA Brightview-IV ANIMA Flexible Bond ANIMA Brightview-V ANIMA Solution 2022-I ANIMA Brightview-VI ANIMA Solution 2022-II ANIMA Brightview-VII ANIMA Solution 2022-III ANIMA Orizzonte Europa 2022 ANIMA Solution 2023-I ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato ANIMA Solution EM ANIMA Bond 2022 Opportunities ANIMA Orizzonte Sostenibile 2023 ANIMA Global Macro ANIMA Orizzonte Benessere 2023 ANIMA Brightview 2023-I ANIMA Orizzonte Consumi 2023 ANIMA Brightview 2023-II ANIMA Orizzonte Energia 2023 ANIMA Brightview 2023-III ANIMA Zephyr Global ANIMA Brightview 2023-IV ANIMA Zephyr Global Allocation ANIMA Brightview 2024-I ANIMA Zephyr Real Assets ANIMA Brightview 2024-II ANIMA Zephyr New ANIMA Brightview 2024-III

The above details are in summary form only and must be read in conjunction with the detailed information contained within the Prospectus of the Funds.

Significant events during the financial year Significant events during the financial year are disclosed in Note 22 to the financial statements.

Significant events after the financial year end Significant events after the financial year end are disclosed in Note 23 of the financial statements.

Corporate Governance Code The Irish Funds association (“IF”) in association with the Central Bank has published a corporate governance code (the “IF Code”) that may be adopted on a voluntary basis by Irish authorised collective investment schemes. The Company adheres to theIFCode.

Directors The name and nationality of persons who were Directors at any time during the financial year ended 31 December 2020 are set out below. All Directors are non-executive directors.

Andrew Bates, Chairman (Irish) Rory Mason (Irish - Independent Director) Pierluigi Giverso (Italian) Davide Sosio (Italian) Agostino Ricucci (Italian, Irish resident)

Directors’ and Secretary’s interests None of the Directors or the Company Secretary hold or held any beneficial interest in the shares of the Company during the financial year.

Other than as disclosed in Note 17, no Directors had at any time during the financial year or at the financial year end, a material interest in any contract of significance, in relation to the business of the Company.

ANIMA Funds Plc 10

ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020

Financial markets

2020 was a year effected predominately by the Covid-19 pandemic even if it started on a positive note for the main asset classes. The climate of optimism was supported by the announcement of the signing of the US/China trade agreement and by signs of the stabilization of macroeconomic conditions. From the second half of January, the performance of the financial markets was heavily influenced by the fears and developments connected with the rapid and progressive spread of the COVID-19 epidemic around the world. Risk aversion gradually overwhelmed the stock markets and generated strong volatility. The sectors most affected were energy and finance. Fears about the adverse effects of the pandemic on growth, with direct impacts on consumption, the production of goods and businesses and household confidence were largely borne out. Uncertainties about the extent and duration of the pandemic prompted expectations of a sharp contraction in growth. After early April, stock markets globally predominantly returned to posting gains, strengthening in the late spring and summer months and gradually recouping previous losses. This trend was sustained by changes in infection data in a number of developed areas, by the gradual easing of lockdown measures, by the reopening of economies, by the strengthening of support measures implemented by central banks and governments, and by positive surprises in macroeconomic data. However, the recovery was not free of setbacks. Fears of a new wave of the pandemic and warnings issued by the authorities about the threat posed to the economic outlook repeatedly put pressure on equity markets: in July, the performance of equities in Japan and Europe was burdened by fears for growth, before regaining momentum in August and then turning downwards again between September and October, together with markets in the entire developed world. In November, the success of Joe Biden in the US presidential elections and the announcement of significant advances in vaccine trials were greeted by a rally in the equity sector. In general, the markets were buffeted by opposing stresses connected with the alternation of good and bad news for growth, due to the epidemiological situation and developments in macroeconomic conditions.

Government bonds experienced alternating phases of upward pressure (attributable to the risk-on environment or to the outlook for a deterioration in public finances as a result of fiscal stimulus measures) and downward momentum (especially for the core sectors, where greater caution and risk aversion prevailed). Sometimes divergent trends emerged between US government securities, supported by the Fed’s interventions, and those issued by European governments, especially in the peripheral countries, which were penalized by a massive flow of new issues. The spread between German yields and those in France, Italy and Spain varied between the peak reached before the ECB announced the Pandemic Emergency Purchase Programme in mid-March and the more recent lows. BTPs, in particular, were subject to profit taking and had to incorporate significant price drops. The ten-year BTP/Bund spread exceeded 260 basis points after the second ten days of April, penalized in particular by the domestic political debate on the use of the ESM and the weakness of the economy. From mid-May, the differential narrowed, with the fall continuing until the end of the year (111 basis points) thanks to the strengthening of the PEPP safety net and the definitive approval of the Recovery Fund. Yields on BTPs then posted record lows for securities with maturities of between 3 and 30 years (around 0.54% on ten-year paper).

In the end, notwithstanding the difficult social and economic environment due to the worldwide spread of the pandemic, the equity markets overall surprisingly registered positive performances in 2020, essentially driven by the United States and Japan. The strong support of monetary and fiscal policies around the world and the progress in the development of Covid vaccines made the markets first recoup the heavy losses of February and March and then finish the year on a strong note, with gains of more than 10% both in the US, Japan and Emerging Markets. Positive performances were registered also by government bond markets, where expectations of a growth revival prevailed over fears of increasing fiscal deficits, keeping interest rates low through the year after their deep dive in February. On the currency side, after a strong US dollar phase during the first months of the pandemic, US dollar weakness against Euro and Yen ensued once expectations of growth recovery set in.

Macroeconomic conditions

At the beginning of 2020, the continuation of expansionary monetary policies had fostered the emergence of signs of stabilization of the cycle, despite certain unclear indications of weakness in manufacturing. A number of economic indicators appeared to be pointing to recovery, and risk factors seemed to be easing slightly. The “Phase 1” agreement signed in January between the United States and China had provided for mutual commitments concerning the purchase of goods, the gradual reduction of tariffs and undertakings regarding currency management and the protection of intellectual property. The pre-crisis fundamentals appeared solid: a few weeks after the spread of the COVID-19 epidemic to the West, the unemployment rate in the advanced economies was at an all-time low. Global manufacturing continued shake off the effects of the trade war between the United States and China, anticipating a resumption of world trade. Since the second half of January, the scenario has changed radically in the wake of the rapid spread of the coronavirus epidemic, which very rapidly became a global pandemic with the consequent imposition of containment measures to stem the health emergency. This had a direct impact on the demand and production of goods and services, with negative repercussions for economic growth, triggering a severe global recession. The peak of the disease in late spring seemed to have passed, with the situation improving in China and the euro area. With the start of the summer, alarm over the deterioration the COVID-19 situation in America increased, while at the same time macroeconomic data continued to provide encouraging surprises and boosted confidence in progress on the medical/scientific front. In the autumn, the significant increase in COVID-19 cases in some US states, the worsening of the health crisis in Latin America and Asia, and the rise in infections in Europe triggered heightened uncertainty about the evolution of the pandemic and the possibility that the fragile recovery could be derailed. The spread of the pandemic in the summer and autumn indicated that without effective vaccines a return to pre-crisis levels of activity in certain sectors would be incompatible with controlling the health threat. In Europe, the spread of the pandemic forced a resumption of drastic containment measures. The rush to develop a vaccine has yielded favourable results. At the end of the year, the pharmaceutical companies Pfizer, Moderna and AstraZeneca gave comforting signals in this regard. At the beginning of 2021, the vaccines had been cleared by regulatory authorities for public use in many countries.

ANIMA Funds Plc 12 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

The reactions of the monetary and fiscal authorities to the progress of the pandemic initially appeared poorly coordinated. Since the end of February, governments had announced large-scale fiscal stimulus packages and central banks had intervened aggressively by cutting rates, expanding their quantitative easing measures and injecting liquidity into the banking system. In March, the Fed held two extraordinary meetings at which it cut rates by 1.5 percentage points to a range of 0%-0.25%, subsequently announcing interventions totaling more than $1.2 trillion and removing limits on maturities and amounts in its QE plan. The US Congress approved substantial support, with fiscal measures worth over $2 trillion. Other central banks also implemented significant measures: the Bank of England and the Bank of Canada adjusted their official rates (with decreases of 0.65 points and 1 point respectively), while the Bank of Japan injected liquidity into the interbank market. The ECB, while leaving rates unchanged, announced substantial purchases of government securities, eased bank capital requirements and introduced the Pandemic Emergency Purchase Programme (PEPP, progressively increasing its envelope up to €1,850 billion, extending net purchases until at least the end of March 2022 and the reinvestment of principal payments until at least the end of 2023). The European Commission had also invoked the general escape clause of the Stability Pact, granting maximum flexibility to governments in their budget decisions. Although the European Council had charged the European Commission with the task of preparing an operational proposal for the Recovery Fund, until mid-July the euro-area countries could not agree on the creation of a joint debt instrument. The desired agreement - the result of a compromise that emerged from the European Council in July – includes a plan to raise €750 billion on the markets and the distribution of €390 billion in grants and €360 billion in loans. Aid from the EU budget will be repaid by all Member States as a whole. The Fund will remain open until 2026, while the repayment of the loans will begin in 2027. Italy will be eligible for about €80 billion in grants and over €120 billion in loans for a total of €209 billion: the resources will be disbursed between the second half of 2021 and 2023.

After the spring collapse, during the summer the United States registered improvements on both the supply side and the domestic demand side, with industrial production, orders and retail sales rising sharply. Earlier subsidies and the strength of the labor market helped support household spending, although consumer confidence began to reflect growing uncertainty over earnings prospects. Towards the close of 2020, the US economy began to display signs of a slowdown while the pandemic surged again. The OECD and IMF estimated an annual decrease in US GDP of -3.7% and -4.3% respectively in 2020, with a recovery of more than 3% forecast for 2021. The December FOMC meeting ended without changes in the monetary policy stance, with unchanged rates and securities purchases. The Fed announced that it had relaxed its 2% inflation target to preserve greater freedom over rates. The US elections were won by Joe Biden, although the handover of power has been embroiled in internal political turmoil (Trump had not recognized the challenger’s victory, complaining of irregularities and fraud). After winning the House, the Democrats also gained a narrow majority in the Senate, thanks to the outcome of run-off elections in Georgia at the beginning of January. This could facilitate smoother US government action.

The contraction in GDP in the euro area also appeared to be largely attributable to a collapse in private consumption. Retail sales in the late spring and summer helped offset the previous collapse. Industrial production continued to decline on an annual basis, despite the emergence of some signs of recovery in the summer. The slight gain of new car registrations in September after the plunge in August was swamped by another decrease in the final part of the year. As in the US, signs of stabilization related to the earlier easing of lockdown measures also emerged in the euro area. However, domestic demand slowed in the second half of 2020. Economic activity slumped rapidly, foreshadowing a contraction in GDP in the fourth quarter. The most recent OECD and IMF estimates point to a contraction in euro-area GDP of around 7.5% and 8.3% in 2020, respectively, and growth of 3.6% and 5.2% in 2021 . According to these forecasts, Italy’s GDP is expected to drop by 9.1% (10.6%) in 2020, and then rise by 4.3% (5.2%) in 2021. The weakness could be attenuated by official intervention: the ECB has undertaken to strengthen its stimulus measures and governments appear willing to launch new support measures.

As the end of the year approached, some progress emerged in the negotiations over Brexit, with the brinksmanship finally producing an agreement between the EU and the United Kingdom.

In Japan, the change in prime minister (with Suga succeeding Abe) was a prelude to continuity in the country’s embrace of “Abenomics”, at least in the short term. Seasonally-adjusted GDP growth in the third quarter rebounded to 22.9% on an annual basis, while unemployment stood at 3.1%. OECD and IMF estimates point to a contraction of 5.3% in 2020 and a recovery of 2.3% in 2021.

China continued to record growth, supported by the recovery in demand, which strengthened gradually in all sectors, in particular in infrastructure and real estate investment, and in exports (not only COVID-related goods). The supply side kept pace, with retail sales and industrial production signaling a sound continuation of the recovery, supported by levels of the PMI that have risen into the area indicating an expansion for both manufacturing and services. The Asian giant could be the only systemic economy capable of recording GDP growth (the OECD estimate is for a gain of about 1.8% for 2020 and an acceleration to 8% in 2021).

On the global inflation front, the COVID pandemic continues to exert downward pressure, with price pressures generally remaining subdued, with signs of considerable weakness in the euro area. The Fed’s statements concerning its inflation target were accompanied by those of the ECB, which confirmed the need to monitor exchange rate developments due to their implications for the medium-term outlook for inflation.

The outlook

News about vaccine research and availability in the fight against COVID-19 have reduced uncertainty about the medium-term prospects for growth, buoying risky assets and supporting the possibility of an acceleration of the global economic recovery in the second half of 2021. Political developments also appear more favorable: the outcome of the US elections has reduced the risks to trade, encouraging expectations of a considerable pandemic stimulus in the short term. Furthermore, the accommodative

ANIMA Funds Plc 13 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued) monetary and fiscal stance is set to remain highly supportive, as underlying inflation is unlikely to strengthen in the next six to twelve months. With inflation currently below its target level, central banks (both the Fed and the ECB) will retain their accommodative stance for much of 2021, if not longer, while governments remain focused on supporting economic activity. Regardless of the differences in the impact of the pandemic on different areas, economic activity could return to pre-pandemic levels faster than previously assumed: the exogenous shock represented by the pandemic hit a global economy that was originally healthy and has proved resilient, which increases the chances of recovery, albeit with differences in timing and approaches in the various geographical areas. The Chinese economy in particular has managed to rebound earlier than the rest of the world, and should continue to expand at a pace in line with potential. The United States could return to pre-crisis levels in less than a year, while Europe, albeit with more difficulty as a result of the lack of greater fiscal stimuli in the first half of 2021, the consequences of the more severe lockdowns imposed and the prospect of an adjustment of labor market conditions, has taken major steps towards fiscal union: this should help the region unleash some of its growth potential as early as the second half of 2021. The main driver in 2021 could be the services industry in the advanced economies, particularly in the euro area and the United Kingdom, where restrictions severely impacted many segments of the sector. The health crisis and the weakening of fiscal support measures have undermined consumer confidence and strengthened the tendency to increase precautionary savings, slowing or depressing global growth. At the same time, the accumulated resources (which are substantial, especially in the USA) could constitute an important reserve to draw upon to finance consumption once the numerous factors of uncertainty have dissipated.

In the United States, forecasts for economic recovery in the first half of 2021 are based on support from fiscal policy, while vaccine developments have paved the way for more sustainable growth in the second half of 2021. President-elect Biden’s approach appears to be founded on pursuing greater balance and collaboration in international relations (with expectations of an improvement in relations with trading partners and less heated rhetoric between the United States and China) and managing the health crisis.

On the monetary policy front, the Fed remains very accommodative, and no new developments are expected in the short term. Rates are expected to remain close to zero for a considerable time, especially after the transition to the average inflation target. It is also conceivable that the Fed could modify its forward guidance to qualitatively link the asset purchases to economic conditions, while maintaining the current pace of overall purchases unchanged.

In the euro area, the short-term outlook is not promising: the fears associated with the spread of the virus are high, the main leading indicators point to an economic slowdown and investment and private consumption remain at risk, connected with the lack of support for the labor market, which will remain in precarious condition. However, the deployment of the Recovery Fund suggests a more optimistic view for the second half of next year. In this context, the ECB is expected to maintain a particularly accommodative stance: after the expansion of monetary policy measures, it could adopt a more wait-and-see approach, with a focus on monitoring economic data and developments in the COVID pandemic.

Growth is expected to continue in China, provided that the health situation remains under control. In the absence of any easing or tightening, the neutral macroeconomic policy context appears appropriate to support the continued growth of domestic demand, with a steady rise in investment and an expansion of spending on consumption and services. The recovery in global demand following the development of vaccines and the rebalancing of the composition of growth will continue to support the Chinese economy in the second half of 2021 as well.

Inflationary pressures are not expected to materialize until the services sector normalizes. This could happen after vaccines are widely distributed and the economy returns to pre-pandemic conditions.

In consideration of the risks still present, it is possible that the dynamics of the financial markets, as well as those of the real economy, remain exposed to variability, which will have to be managed prudently and tactically. The allocative approach considers the existing imbalances, which could alter the outlook.

A constructive stance is being maintained in equities in the medium term, due in part to the structural liquidity support. Managing the very short-term equity position remains exposed to the impact of developments on the health front, after benefiting from a number of major catalysts (the outcome of the US elections, the announcements on vaccines). Any periods of weakness in equity markets could reflect profit taking, and be exploited tactically to rebalance risk exposure. Despite the apparent absence of new catalysts for an acceleration of the positive trend in the immediate future, the elimination of uncertainties about Brexit, the strengthening of central bank support programs, and the expectations for substantial fiscal intervention nevertheless appear capable of sustaining gains during the first quarter of 2021. However, a recovery in consumption will be decisive for sustainable growth looking forward: developments in labor market conditions will therefore remain a crucial factor. Any retrenchment could represent favorable investment opportunities, taking a tactical approach to identify the companies and sectors with the greatest potential for recovery after having suffered the most in the past.

Government issues have proved to be extremely sensitive to the massive stimulus measures announced and implemented by central banks. A neutral stance is being maintained for the sector as a whole: the current trading range is expected to continue with the ongoing consolidation of yields in light of the central banks’ careful control of official rates (which are expected to remain low for a long time).

In the corporate bond market, the neutral stance on investment grade paper is supported by the consideration that the segment, while enjoying the protection of central banks as a result of the purchase programs targeting the sector and benefiting from the possibility of issuing debt at negative rates, has seen spreads narrowing progressively, with both rates and spreads close to

ANIMA Funds Plc 14 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued) all-time lows. The scope for further narrowing appears rather limited, counseling a preference for quality issuers. The neutral stance in respect of the high yield corporate bond segment is essentially connected with a generally constructive orientation in the broader risky-asset sector. The relative caution towards emerging-market issues is linked to trends in fundamentals.

Among the main currencies, the euro/dollar exchange rate appears unlikely to be impacted by news from the Fed and the ECB concerning the rate differential. However, a negative position in respect of the US dollar under the assumption of a continuation of the weakness in the greenback is connected with the expectation that official rates will remain low for an extended period, in conjunction with a stronger euro (the Recovery Fund should reduce political risk within the EU). At the same time, the progressive strengthening of the euro has been facilitated by the wait-and-see attitude of the ECB in response to the appreciation of the single currency. The neutral view of the British pound reflects consideration of the potential benefits of the Brexit agreement.

The global growth outlook appears to selectively support an increase in commodity prices.

ANIMA Liquidity

During 2020 the Fund kept an average Duration higher than the benchmark, with overweight in Italian, Spanish and Portuguese issues, in order to maximize the portfolio’s yield to maturity in an environment of deeply negative money markets yields. Core countries have been kept underweight, compared to the benchmark.

In the year the Fund reported a net negative absolute performance and below its benchmark. The overweight of Italian notes, in an environment of deeply negative yields, gave a positive contribution in relative terms, but only partially helped to recover the costs.

In 2021 we foresee to keep overweighting Italian and other peripheral countries notes, in order to maximize the yield to maturity of the Fund. At the same time, we expect to invest only a small part of the portfolio in Core countries, which pay yields much lower than the ECB official rates. We expect the ECB to stay on hold along the course of the year.

Fund Share Class Performance ANIMA Liquidity A -0.79% I -0.59% Prestige -0.81% Silver -0.92%

ANIMA Short Term Bond

The management of the Fund relies on a quantitative investment process based on a risk budget with constraint of tracking error. During the year, on average, the Fund had a bond exposure equal to 95% of the portfolio, fully allocated on government securities. The portfolio was country neutral relative to the benchmark: at the end of December, the fixed income component was mainly allocated in Italy (25%), France (22%), Germany (19%) and Spain (11%).

During the year, the Fund duration was aligned with the one of the benchmark: at the end of December, it was 1.81 (with respect to the BMK Duration 1.81). The net active performance against the reference Benchmark was -0.45% (Class I).

The Fund will follow a management style characterized by a limited level of Tracking Error compared to the reference Benchmark.

Fund Share Class Performance ANIMA Short Term Bond I -0.44% Prestige -0.75% Silver -0.87%

ANIMA Medium Term Bond

The portfolio was country neutral relative to the benchmark: at the end of December, the fixed income component was mainly allocated in France (24%), Italy (21%), Germany (17%) and Spain (13%).

During the year, the Fund duration was aligned with the one of the benchmark: at the end of December, it was 8.42 (with respect to the BMK Duration 8.36).

The net active performance against the reference Benchmark was -0.59% (Class I).

The Fund will follow a management style characterized by a limited level of Tracking Error compared to the reference Benchmark.

ANIMA Funds Plc 15 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Medium Term Bond (continued)

Fund Share Class Performance ANIMA Medium Term Bond I 4.08% Prestige 3.60% Silver 3.21%

ANIMA Bond Dollar

The management of the Fund relies on a quantitative investment process based on a risk budget with constraint of tracking error. During the year, on average, the Fund had a bond exposure equal to 95% of the portfolio, mainly allocated on US Treasuries. During the year, the Fund duration was aligned with the one of the benchmark: at the end of December, it was 7.11 (with respect to the BMK Duration 7.03).

The net active performance against the reference Benchmark was -0.39% (Class I).

The Fund will follow a management style characterized by a limited level of Tracking Error compared to the reference Benchmark.

Fund Share Class Performance ANIMA Bond Dollar I -1.08% Prestige -1.57% Silver -1.91%

ANIMA Global Bond

The portfolio was country neutral relative to the benchmark: at the end of December, the fixed income component was mainly allocated in USA (36%) and Japan (24%).

During the year, the Fund duration was aligned with the one of the benchmark: at the end of December, it was 8.41 (with respect to the BMK Duration 8.37).

The net active performance against the reference Benchmark was -0.70% (Class I).

The Fund will follow a management style characterized by a limited level of Tracking Error compared to the reference Benchmark.

Fund Share Class Performance ANIMA Global Bond I -0.52% Prestige -0.89% Silver -1.26%

ANIMA Short Term Corporate Bond

The Fund has achieved an absolute positive net performance (Class I), slightly lower than the benchmark over the past twelve months.

Interest rates are lower than one year ago, while corporate spreads are still higher, even if they partially recovered some of the losses occurred during March 2020. The global pandemic, indeed, caused a rise in corporate spread and, in general, a sell-off on risky assets that has been drastic in March. European governments took many measures to contain contagion. These measures reduced dramatically the economic activity, primarily in countries like Italy, one of the first to be hit by the pandemic. The gradual recovery in economic activity determined a renewed trust among investors, but not sufficiently to recover all the losses.

During the second half of 2020, the second wave in October and the return of containment measures, reduced during summer, caused a renewed panic on the markets, even if the movement was lower than the one that took place in March. Subsequent news about the discovery of a vaccine restored trust in financial markets, together with the market-friendly outcome of USA elections. Besides this, looser fiscal and monetary policies determined a decrease in interest rates and backed equity markets, and risky assets in general.

ANIMA Funds Plc 16 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Short Term Corporate Bond (continued) The shorter duration of the Fund relative to the benchmark benefited the Fund, but not enough to cover all the losses coming from the overweight of high beta securities, which were the most hit during periods of tensions. At the end of 2020 the duration of the Fund is approximately 0.8 years- the sector which are mostly overweight are insurances, utilities and communications. Moreover, there is an overweight of subordinated securities, both financial and non-financial. The percentage weight of corporate securities is lower than the benchmark by approximately 10%.

The Fund will exploit periods of high volatility to increase the percentage positioning of corporate securities, keeping a preference for those with close maturities/call. The Fund will maintain its overweight of subordinated securities issued by high credit quality firms, in order to generate yield and contain risk.

Fund Share Class Performance ANIMA Short Term Corporate Bond I 0.45% Silver -0.22%

ANIMA Funds Plc 17 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Europe Equity

The first weeks of 2020 saw a favorable financial environment, characterized by the reduction in geopolitical tensions between the United States and China, and by improving macro leading indicators. However, the situation deteriorated rapidly in mid-February, with an average correction of global equity markets of -30%, once the danger of the Covid-19 virus and the speed of its expansion beyond China’s borders were better understood by the investment community.

The investment team quickly reduced the equity exposure, taking an underweight position with respect to the benchmark, favoring the defensive sectors (in particular the pharmaceutical, telecommunications and utilities sectors) and the technology sector. In stock picking, particular attention was paid to identifying the companies that could benefit from the trends that emerged during the lockdowns, such as the ЉWork From HomeЉ and the acceleration of online penetration.

Considering the strong monetary and fiscal stimulus, which were followed by an improvement in the macro leading indicators, in the second quarter the Fund increased its equity exposure but maintained a bias towards the technology and utilities sectors, and brought to underweight the exposure to the pharmaceutical sector.

However, during the third quarter of 2020, the European stock market enters into a trading range: the so-called ЉCovid WinnersЉ reach very high valuations and lose the momentum of the first part of the year, while the uncertainties about the prospects of the stocks most negatively affected by the pandemic remains alive. Considering the potential positive developments on the Covid vaccine approval process and the publication of the ЉRecovery FundЉ in Europe, the Fund has gradually increased its ЉvalueЉ tilt (mainly through the banking and oil sectors) and selectively reduced the overweight of the “growth” style (in particular, taking some profit on the “Covid winners”).

The last quarter was characterized by the euphoria deriving from the positive newsflow on the effectiveness of the anti-Covid vaccines, the geopolitical uncertainties surrounding the US elections (with the market welcoming the victory of the democratic candidate Joe Biden) and the Brexit negotiation (with an agreement reached at the last minute on December 24th). In this context, the sectoral and style rotation towards “value” has found strength. The investment team selectively took profits in some banking stocks but kept the exposure to the financial sector unchanged by increasing the weight of the insurance sector, and selectively increased the exposure to stocks related to the reopening, such as those in the hotel sector.

Over the last twelve months, the Fund has achieved a positive net performance compared to the benchmark. In terms of sector allocation, the overweight to Tech and Utilities sectors, and an underweight to Consumer Discretionary contributed positively to the Fund’s annual performance.

In 2021, we should see an acceleration of the economic recovery, thanks to both the accommodative monetary and fiscal policies, and to the Covid-19 vaccine rollout.

We believe that the rotation towards the ЉvalueЉ style and towards Љreopening tradesЉ still have room in the first part of the year, although there may be volatility coming from the increase in Covid-19 cases. The stocks most affected by the pandemic in 2020 will benefit from vaccine administration and the gradual reopening of global economies, while Љcovid winnersЉ generally find themselves with high valuations and a growth profile that could be weaker in 2021 than in 2020.

Fund Share Class Performance ANIMA Europe Equity I 1.40% Prestige 0.35% Silver -0.18%

ANIMA U.S. Equity

In 2020, the US Equity Fund outperformed the benchmark and had a positive net performance, thanks to its balanced portfolio, which indeed was capable of face any scenario that could occur during pandemic, especially the positive trends that arose during the period. The investment policy consisted in being overweight information technology, in particular those stocks of companies that allowed to maintain communications during the lockdown, and consumer discretionary, especially those companies that have a high growth and remained resilient during the lockdown. In order to offset the cyclicality of this portfolio, we also invested in consumer staples stocks, characterized by high demand, high growth, and elevated opportunities for international expansion. In terms of sector allocation, the sectors that contributed most positively to the outperformance were information technology, consumer discretionary and the market weight position in industrials, which benefitted from the cyclical recovery that started towards the end of the year. The stock picking also contributed positively, for instance the decision not to invest in specific stocks of the financial sector or the communication sector.

The management team’s priority is that of continuing to select the best stocks on the American equity market, especially those that have specific characteristics, such as a sustainable topline growth, elevated cash generation, clean and unlevered balance sheets, with ample liquidity and flexibility to capture interesting opportunities that allow for the firm’s growth. We still care a lot

ANIMA Funds Plc 18 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA U.S. Equity (continued) about valuations and indeed we seek stocks with these characteristics at interesting valuations or even undervalued. Our goal is that to select the stocks of companies that are able to obtain a performance that is superior to that of the benchmark, in order to generate alpha.

Fund Share Class Performance ANIMA U.S. Equity I 15.20% Prestige 14.05% Silver 13.50%

ANIMA Asia/Pacific Equity

Asia-Pacific market equities returned around 17% (in USD) in 2020, overperforming developed markets as a whole. At regional level, a marked dispersion in distribution of results was observed: strong over-performance of Japan (+ 13%) stands out both against Australia (+6%), Hong Kong (-3%) and Singapore (-10%). Looking at sector performance tech with semiconductors, pharma with med-tech and telemedicine, on line commerce and development of electric vehicle and hybrid technology were the sectors with the highest yield, while banks, energy, utilities, real estate and transport reported the most negative performances. The highly accommodative monetary policies pursued by almost all Central Banks in emerging countries, determined by the need to face the massive and totally unexpected negative economic impact of the COVID-19 pandemic, allowed stock markets to recover the losses recorded in the first half of 2020, as nominal and real interest rates dropped to lowest ever levels and major central bank balance sheets at all-time highs. Japan and Australia, in particular, by resorting to expansive fiscal and monetary policies to restart its economy has managed to return at levels of economic activity registered before the outbreak of the pandemic. Also “negatively important” has been difficulties in political and commercial relations between USA and China. Main protagonist of financial markets have been companies engaged in running digital platforms active in e-commerce, online games and innovative digital services. Even a significant contribution to full year’s results also came from companies developing and selling electric vehicles and related components.

The Fund’s equity exposure was marginally overweight all year long, significantly more pronounced in the fourth quarter than in previous quarters.

During the course of the year, the strategically preferred countries were Japan (one of the economy less affected by the pandemic effects) and Australia for the success in containing the infections, but also for the strong exposure to technology, much less impacted by pandemic than services and, indeed, promoted by progressive worldwide ’smart working’ business process adoption. Hong Kong and Singapore markets were structurally underweight. Always underweight, financial sector, particularly in the last months of the year has been tactically increased to overweight, while overweight in Technology was structural all year long.

The Fund achieved a net positive performance in 2020 in absolute terms and negative above reference benchmark. Main positive contributors to Fund’s performance relative to its benchmark were overweight equity exposure and overweight, sector and stock selection in Japan and Australia.

Thanks to start of vaccination programs and still expansionary monetary and fiscal policies, economic outlook remains constructive for the main emerging countries and their respective financial markets. It is believed to maintain current exposure (overall equity overweight favoring Japan and Australia), but closely monitoring upcoming fiscal policies of new US administration (due to the impact they could have on global interest rates and the USD ) and evolution of economic policy in China (due to the impact on the demand for the main raw materials and semi-finished products to which other economies like Australia are deeply exposed).

Fund Share Class Performance ANIMA Asia/Pacific Equity I 1.81% Prestige 0.79% Silver 0.30%

ANIMA Global Equity Value

On 27th of November the Fund changed its benchmark to better reflect the investment style and approach used to manage the fund. It represents a better reference to the investment activity of the fund.

The Fund underperformed its benchmark in 2020 because the portfolio composition favored a balanced approach between economically sensitive companies (that turned out to be most penalized by the COVID19 in terms of earnings revisions) and more prudent names like those in healthcare, telecommunications and consumer staples. The market rewarded technology and other high growth stocks that directly benefited from the structural acceleration towards a more digital economy. Only when the Pfizer vaccine was announced on the 9th of November, did we see a significant reversal in the Covid winner/cyclical impact trade.

ANIMA Funds Plc 19 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Global Equity Value (continued) Starting from 27th of November the Fund outperformed under the new benchmark regime. The reason for the outperformance since the change in the benchmark to 45% MSCI Enhanced Value and 50% MSCI World was that the weight differential between the technology sector versus healthcare and staples was lower as was the difference in the weight of the US versus Europe and Japan.

The Fund is focused on improving shareholder returns by investing in companies that have used the COVID crisis to accelerate the transformation of their companies to become more competitive, productive and ESG orientated. Sectors like retail have seen significant bankruptcies which allows these winners to gain more share. Companies focusing on green policies like energy and buildings are able to gain government support as well as more share from companies that are polluting. Financials are consolidating to gain scale and using digital channels to deliver their services similar to large internet companies. All these sectors mentioned will see higher returns, cash flows than the market estimates and this can translate into higher stock performance.

The Fund name changed from Anima Global Equity to Anima Global Equity Value on 27th November 2020.

Fund Share Class Performance ANIMA Global Equity Value I -6.39% Prestige -7.34% Silver -7.83%

ANIMA Emerging Markets Equity

Emerging market equities returned around 16% (in USD) in 2020, over performing developed markets as a whole. At regional level, a marked dispersion in distribution of results was observed: strong over-performance of Asia (+ 22.5%) stands out both against CEEMEA markets (-9.8%) and LatAm countries (-16%). Autos (+ 73.1%), Semiconductors (+ 67.5%) and Biotech (+ 58%) were the sectors with the highest yield, while Banks (-13.5%), Communication Services (-14.2%), Energy ( -18.3%) and Real Estate (-20.3%) reported the most negative performances. The highly accommodative monetary policies pursued by almost all Central Banks in emerging countries, determined by the need to face the massive and totally unexpected negative economic impact of the COVID-19 pandemic, allowed stock markets to recover the losses recorded in the first half of 2020, as nominal and real interest rates dropped to lowest ever levels and major central bank balance sheets at all-time highs. China, in particular, by resorting to expansive fiscal and monetary policies to restart its economy (the first affected by the so-called lockdown, i.e. mandatory stop of main economic activities and of personal mobility to contain the spread of the disease), has managed to return , already at the end of 2020, at levels of economic activity registered before the outbreak of the pandemic. Also important, in terms of contribution to the performance of the Chinese market, has been the growth, strongly supported by Chinese leadership as a counterweight to lasting difficulties in political and commercial relations with USA, of companies engaged in running digital platforms active in e-commerce, online games and innovative digital services. In China and Korea, a significant contribution to full year’s results also came from companies developing and selling electric vehicles and related components.

The Fund’s equity exposure was marginally overweight all year long, significantly more pronounced in the fourth quarter than in previous quarters.

During the course of the year, the strategically preferred countries were China, the first economy to be affected by the pandemic (but also the first to deal with it effectively), Taiwan and Korea, for the success in containing the infections, but also for the strong exposure to technology, much less impacted by pandemic than services and, indeed, promoted by progressive worldwide ’smart working’ business process adoption. ASEAN countries, Middle East and LatAm markets were structurally underweight. Tactically, particularly in the last months of the year, Brazil has been overweight, while overweight in Technology was structural all year long.

The Fund achieved a positive performance in 2020 in absolute terms and above reference benchmark.

Main positive contributors to Fund’s performance relative to its benchmark were overweight equity exposure and overweight, sector and stock selection in China, Korea and Taiwan.

Thanks to start of vaccination programs and still expansionary monetary and fiscal policies, economic outlook remains constructive for the main emerging countries and their respective financial markets. It is believed to maintain current exposure (overall equity overweight favoring China, Korea, Taiwan and Brazil), but closely monitoring upcoming fiscal policies of new US administration (due to the impact they could have on global interest rates and the USD ) and evolution of economic policy in China (due to the impact on the demand for the main raw materials and semi-finished products to which other emerging economies are exposed).

Fund Share Class Performance ANIMA Emerging Markets Equity I 10.54% Prestige 9.42% Silver 8.86%

ANIMA Funds Plc 20 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Global Selection

The fund started its activity during the month of December 2020, reporting a net positive absolute performance and above the reference index.

The fund owns positions in stocks with exposure to the reopening and easing of lockdown measures including Travel & Leisure and on some relevant ESG themes and stocks exposed to the Green Deal including renewable energy, hydrogen, auto electrical and energy efficiency. The overall approach is balanced, selecting stocks characterized by solid balance sheets, high cash generation, visibility on earnings growth and which offer sustainable dividends with a tilt towards cyclical sectors. The fund is tactically overweight relative to the benchmark in the consumer discretionary, industrials and healthcare sectors.

The geographical exposure is allocated to the USA (69.0%), Japan (8.9%) and Switzerland (4.0%). The main sectors in the portfolio are: Information Technology (22.1%), Consumer Discretionary (14.4%) and Healthcare (13.6%).

2020 was certainly an unpredictable year. The global economy has experienced what is arguably the deepest and fastest recession since World War II. However, most equity markets closed the year near historic highs. While waiting for moments of greater volatility, since valuations are not particularly attractive, we continue to believe that the sectoral and geographical rotation that characterized the last period can continue. Growth expectations for 2021 have been revised upwards: accommodative policies, earnings recovery and a successful vaccination campaign should support our constructive medium-term orientation and any weaknesses will continue to be used to increase exposure to the cyclical part of the portfolio (industrials, materials, financials and consumer discretionary). However, the fund continues to maintain significant exposure to sectors exposed to structural issues such as healthcare and IT.

Fund Share Class Performance ANIMA Global Selection I 2.05% Prestige 2.03% Silver 2.00%

ANIMA Euro Equity

Overall, Index MSCI Eur in 2020 was negative at -1.0% but on the whole it staged an incredible recovery from mid-March lows (~ 50%).

Stock markets have reacted sharply to the global spread of Covid-19: between February and March, the Eurozone equity index declined by almost 40%. Policymakers announced unprecedented support to the economy, providing enormous amounts of stimulus. Equity markets have rallied on the back of fiscal and monetary stimulus, combined with the reopening of economies. During the first half of 2020, best sectors have been technology, pharma and utilities and worst sectors have been banks, auto and energy. Switzerland has been the best performing country in Europe. During the third quarter, equity markets have stabilized and after a correction in October, they sharply rebounded because of the positive vaccine news flow and hopes for an end to the corona crisis. In November the euro equity indexes appreciated by 17% mainly driven by “value” stocks. A big sector rotation happened, cyclical names outperformed and quality and growth names underperformed. At the end of October we have reduced the weight of utilities and pharma stocks and we have bought banks and oil integrated companies.

In 2020 Anima Euro Equity net performance was -1.16%, slightly lower than its benchmark (-1%). In 1H Anima Euro Equity outperformed its benchmark by 1.5% thanks to its exposure to Switzerland and thanks to the overweight in utility and technology. In 2H we rebalanced the sector allocation to get more exposure to cyclical names but the rotation in November was quick and our exposure to value names was too small.

We forecast a positive performance in 2021 even if we expect volatility to raise in 1H. We will stay mainly invested in quality companies with a solid balance sheet and a focus on sustainability.

Fund Share Class Performance ANIMA Euro Equity I -1.16%

ANIMA Global Currencies

During the 2020 the Fund achieved a negative net performance in absolute terms and lower than the reference benchmark. During the first quarter, government bond yields in the United States and Europe fell significantly , in the wake of lower than expected economic data, the spread of the Covid epidemic and a huge expansive monetary policy.

As regards investment policies, the allocation of the portfolio at the beginning of the year was characterized by a dynamic management of currency risk. The dollar’s exposure was strategically managed, creating an underweight US dollar against the benchmark during the quarter. At the moment the currency position is still underweight Usd by 1% compared to the reference benchmark.

ANIMA Funds Plc 21 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Global Currencies (continued) We have also included an overweight Japanese yen respect the benchmark (around 3%), because the volatility of risky assets can rise again over the next months and this currency has proven to be an excellent protection in the event of a flight to quality.

In the 2021 the future outlook remains uncertain , due to the strong spread of Covid contagion in many areas of the globe, and due to the fears about a weak global economic growth. In this context, the Fund maintains a duration aligned with that of the benchmark and a slight underweight to the US dollar.

Fund Share Class Performance ANIMA Global Currencies I -3.29% Prestige -4.04%

ANIMA Variable Rate Bond

Since the beginning of the year the Fund has kept an average exposure of around 80% to Italian CCTs. The remaining part of the portfolio has been invested in Italian Government Bills and also some Fixed Coupon BTPs. During the year we tactically switched part of the portfolio to Fixed Coupon BTPs a few times, when we judged CCTs to be relatively expensive, in order to give some yield enhancement to the Fund.

The Fund has had an average Duration slightly higher than the benchmark; indeed, we had a positive stance on peripheral-core spreads, which are positively correlated to CCTs, justified by a combination of deep support from the ECB purchases, a slowing but still ongoing economic cycle, and an attractive carry to exploit.

In the year the Fund reported a net positive absolute performance, slightly below its benchmark. The extreme volatility in the Italian bond market in the first quarter has been offset by the compression, since May, of Italy-Germany spread.

In 2021 we expect European yields to remain quite stable at historically very low levels, with very compressed volatility, particularly in the short-end, thanks to the strong support by the ECB, which will aim to keep very accommodative financial conditions in the economy. The long-end will eventually suffer a little as US yields will probably be under pressure because of the huge stimulus package that should be launched by the Biden administration, and expectation of reflation in the economy. Looking at Italy, we think that the bulk of the tightening in spreads versus Core countries has already taken place in 2020, reducing room for over-performance going forward. Nevertheless, as there is some extra carry attached yet, we suspect many investors will be attracted again by BTPs, so we think that any widening caused by endogenous factors or by sell-offs in risky assets will be considered a buying opportunity.

Therefore, we expect to keep the exposure to Italian assets moderately above the Benchmark, looking to increase it during the year.

Fund Share Class Performance ANIMA Variable Rate Bond I 1.24%

ANIMA Hybrid Bond

The Fund has realized a positive absolute performance during 2020 + 1.97%, however the relative performance over the year was slightly negative (-41bps). 2020 has been characterized by two different phases, the first quarter and the rest of the year. 1Q20 the performance was strongly negative due to uncertainties related to spread out of the pandemic Covid-19. After this difficult quarter, combined actions taken by central banks and governments has mitigated the impacts on the real economy bringing the volatility down in the markets. Indeed, during the rest of the year the Fund has gradually recovered all the losses, closing up at the end of the year. The Fund has mostly invested in corporate hybrids, almost 88% of the Fund is invested in this asset class, only a negligible percentage in invested in additional tier 1 and other HY bonds. The liquidity at the end of the year was close to 10%. Preferred sectors are: communications (+2.5% above benchmark), real estate (+12%), technology (+2%), while, the less preferred sectors are: consumers (-7%), Oil & Gas (-5%) and Utilities (-4.5%). The Fund is allocated through a button-up process, indeed the portfolio is very concentrated towards those companies that we believe the most undervalued. The total amount of High Yield allocated is around 50%, while the remaining are Investment Grade bonds. Thus the Fund result to have a Beta that’s slightly above the benchmark.

Over the year the Fund has always had a currency exposure close to the benchmark, the majority of issues with a foreign currency has been covered. Indeed, the Fund has utilized Forward to hedge the currency exposure.

ANIMA Funds Plc 22 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Hybrid Bond (continued) Notwithstanding the good performance realized in 2020 after a very challenging first quarter, the asset classes where the Fund mainly invest still offer good relative value in the market. In this context there are several uncertainties, above all those related to the capacity of world to vaccinate the global population as soon as possible. However, in a very low yield environment we believe that corporate hybrids may perform well in the coming months and spread could further tighten. Thus we maintain a moderately positive view on the Fund for the foreseeable futures.

Fund Share Class Performance ANIMA Hybrid Bond Class I 1.97%

ANIMA Euro Government Bond

The Fund started the year with a Duration broadly in line with the benchmark, as we predicted European yields to be stuck in tight ranges near the levels seen in late 2019, given ample liquidity guaranteed by most relevant Central Banks which we expected to keep rates unchanged for the foreseeable future. Looking at the intra-Emu composition of the Portfolio, the Fund had a significant overweight in peripheral countries, Italy in particular, balanced by underweights in basically all core and semi-core countries; indeed, we had a positive stance on peripheral-core spreads justified by a combination of deep support from the ECB purchases, a slowing but still ongoing economic cycle, and an attractive carry to exploit. We also increased somewhat the exposure to Italy in January, after the positive outcome of Regional elections allowed the ruling parties to keep governing the country without calling for early elections. In addition, we invested a relevant, even if lower than in 2019, portion of the portfolio in Inflation-linked issues, as expected inflation priced in bond markets was still quite low. The Corporate bond component has been kept in line with the benchmark in terms of both weight and Duration.

Between February and early March financial markets were profoundly hit by the global health emergency caused by the spread of Coronavirus. The consequence of this emergency has been the almost complete lockdown of the population in many countries, that has clearly caused a massive fall in economic activity in basically every sector and recorded the worst recession since World War II. Such a strong hit to the economic environment forced both Governments and Central Banks to intervene with powerful and exceptional supporting measures to avoid a complete collapse and foster the recovery. The sharpest intervention happened in the US where the FED cut rates to 0, and started huge buying programs of Treasuries and other securities; in Euro area the ECB after a first shy reaction, launched a new QE scheme (Pandemic Emergency Purchase Program) in order to prevent peripheral countries spreads to rise disorderly to too high levels.

Risky assets experienced a sudden, sharp and extended fall in prices in March, discounting awful losses in growth and the financial consequences on companies and also Sovereigns. Then, after all the measures taken by public authorities throughout the world, a generalized strong rebound started and basically went on unabated for months, with macro data showing signs of recovery and Governments succeeding in curbing the Virus speed of contagion.

We faced the most severe phase in the markets by buying Duration in safe heaven countries (mainly Germany), particularly in the longer maturities, in order to hedge the big decline in peripheral bond prices. We didn’t cut the exposure to Italy, Spain and Portugal, partly because liquidity in the market disappeared for weeks, but also because we judged the supporting measures taken by both the ECB, the domestic Governments, and the European Institution, as sufficient to counter the forced selling in the markets, Rating downgrades and increased public debt issuance. Indeed, after the storm ceased, we also increased somewhat the weight of Italian BTPs in the Fund, focusing on the short end of the curve where yields had reached very cheap levels. On the opposite, since late March we started to reduce Duration in Germany and other core countries re-establishing pure long peripheral-core spread positions. Lately, as long as the recovery went through and spreads came back to more fair levels (Italy-Germany below 200 basis points) we reduced the size of this position in gradual steps.

During Summer, as long as fiscal and monetary stimulus started to affect the real economy, and new Virus contagion kept slowing, financial markets have been marked by very low volatility and very positive returns for risky assets. While bond yields in Germany and other Euro Core countries were consolidating in very tight ranges, Peripheral ones kept sliding slowly to lower levels. This dynamic was also accelerated by market friendly results in the Italian Constitutional Referendum and regional elections held in late September. The Joe Biden win in the US Presidential elections in the end, had the effect to pull global bond yields somewhat higher, even in the Euro area; this movement has been largely offset by a further compression of Peripheral spreads, so that Italian yields basically consolidated near the year lows, to end December with the 10 year rate around 0.55%, while Bunds closed 2020 at -0.57%.

During the second half we kept taking profit on our long Italy strategic position, as long as yields were falling, to close the year on a neutral position. At the same time we also gradually removed the Core countries underweight, after Biden victory and the initial vaccine production from Pfizer caused a jump in global bond yields. Finally, we also reduced somewhat our exposure to Inflation-linked bonds, given the good performance produced since May.

In the year the Fund reported a net positive absolute performance which came in slightly below the benchmark. The underperformance was mainly due to the big volatility in peripheral bonds prices, even if spreads kept tightening along the rest of the year. Other negative contributions came from the sharp decline of Breakeven Inflation, partially recovered in the second semester.

ANIMA Funds Plc 23 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Euro Government Bond (continued) In 2021 we expect European yields to remain quite stable at historically very low levels, with very compressed volatility, particularly in the short-end, thanks to the strong support by the ECB, which will aim to keep very accommodative financial conditions in the economy. The long-end will eventually suffer a little as US yields will probably be under pressure because of the huge stimulus package that should be launched by the Biden administration, and expectation of reflation in the economy. Looking at Italy, we think that the bulk of the tightening in spreads versus Core countries has already taken place in 2020, reducing room for overperformance going forward. Nevertheless, as there is some extra carry attached yet, we suspect many investors will be attracted again by BTPs, so we think that any widening caused by endogenous factors or by sell-offs in risky assets will be considered a buying opportunity. Therefore, we expect to keep the exposure to Italian assets moderately above the Benchmark, looking to increase it during the year, while keeping an average underweight in Core countries.

Fund Share Class Performance ANIMA Euro Government Bond I 4.77%

ANIMA Star High Potential Europe

The first weeks of 2020 saw a favorable financial environment, characterized by the reduction in geopolitical tensions between the United States and China, and by improving macro leading indicators. The Fund started the year with a net equity exposure of 20%. However, the situation deteriorated rapidly in mid-February, with an average correction of global equity markets of -30%, once the danger of the Covid-19 virus and the speed of its expansion beyond China’s borders were better understood by the investment community.

The investment team quickly reduced the net equity exposure to zero, favoring the defensive sectors (in particular the pharmaceutical, telecommunications and utilities sectors) and the technology sector. In stock picking, particular attention was paid to identifying the companies that could benefit from the trends that emerged during the lockdowns, such as the ЉWork From HomeЉ and the acceleration of online penetration.

Considering the strong monetary and fiscal stimulus, which were followed by an improvement in the macro leading indicators, the net exposure was increased to 15% in march and then was gradually brought to 30% by the end of the semester. Moreover, the sector allocation was tactically changed with an increase in the exposure of more cyclical sectors, while maintaining a strong bias towards the technology sector, which remained the main overweight.

However, during the third quarter of 2020, the European stock market enters into a trading range: the so-called ЉCovid WinnersЉ reach very high valuations and lose the momentum of the first part of the year, while the uncertainties about the prospects of the stocks most negatively affected by the pandemic remains alive. Considering the potential positive developments on the Covid vaccine approval process and the publication of the ЉRecovery FundЉ in Europe, the Fund has gradually increased its ЉvalueЉ tilt (mainly through the banking and oil sectors), the exposure to the materials sector, and selectively reduced the overweight of the “growth” style (in particular, taking some profit on the “Covid winners”).

The last quarter was characterized by the euphoria deriving from the positive news flow on the effectiveness of the anti-Covid vaccines , the geopolitical uncertainties surrounding the US elections (with the market welcoming the victory of the democratic candidate Joe Biden) and the Brexit negotiation (with an agreement reached at the last minute on December 24th). In this context, the sectoral and style rotation towards “value” has found strength. The investment team selectively took profits in some banking stocks but kept the exposure to the financial sector unchanged, selectively increased the exposure to stocks related to the reopening, such as those in the hotel sector, and brought the tech exposure to neutrality.

The net equity exposure during the second half of the year has been around 30/35%. The Fund used derivatives to tactically increase or decrease the Fund’s net exposure. The Fund has consequently achieved an absolute positive net performance over the past twelve months. In terms of sector allocation, the overweight to Tech and Utilities sectors, and the underweight to Healthcare contributed positively to the Fund’s annual performance.

In 2021, we should see an acceleration of the economic recovery, thanks to both the accommodative monetary and fiscal policies, and to the Covid-19 vaccine rollout. We believe that the rotation towards the ЉvalueЉ style and towards Љreopening tradesЉ still have room in the first part of the year, although there may be volatility coming from the increase in Covid-19 cases. The stocks most affected by the pandemic in 2020 will benefit from vaccine administration and the gradual reopening of global economies, while Љcovid winnersЉ generally find themselves with high valuations and a growth profile that could be weaker in 2021 than in 2020. The Fund’s net equity exposure will continue to be managed tactically.

Fund Share Class Performance ANIMA Star High Potential Europe A 15.36% Classic A 12.53% Classic B 13.07% I 13.76% Prestige 13.20% Silver 13.17%

ANIMA Funds Plc 24 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Star Bond

The year began with plenty of optimism. Consequently, Anima Star bond allocation to risky asset (Emerging bonds and corporate bonds) was 25% at the beginning of the year. Duration was 4 years, mainly invested in US Treasury and BTPs, partially hedged through futures on German bund.

By early March, the pandemic had gone truly global, sending financial markets into a tailspin. Risk-off movements penalized the part of the portfolio most sensitive to the economic cycle. We considered the solutions that may be available to policymakers to ease economic and financial market strains (among them asset purchases) to switch part of the portfolio in high yield securities (17.5%) and in investment grade corporate bonds (7.5%). We maintained some allocation in emerging bonds by selecting countries with low beta, aiming to increase the yield of the Fund.

During the second quarter, the persistence of lockdown measures at global level despite the intervention of the monetary authorities led us to prefer a more prudent portfolio composition. We cut our exposition to credit (to 15%) and to Emerging bond (to 5%) and switched to US Treasury and Italian government bonds (supported by the monetary policy measures). Portfolio duration increased to a high level of 7.8 years.

During the third quarter, we kept a prudent approach given the persistence of several factors whose outcome and implications remained a source of uncertainty for markets: rising new virus cases, the lack of additional U.S. fiscal stimulus, Brexit, US presidential elections. We took profit on Emerging bonds and we gradually reduced overall corporate allocation. Since major central bank policy had been largely an exercise in reassuring markets that they will remain highly accommodative for as long as necessary, we kept our allocation on US treasury and Italian BTPs, calibrating short duration on Bund.

In terms of allocation, our main bet was on US Treasuries. Subdued growth, low inflation and ultra-accommodative monetary policy should reduce the risk of a sudden rise in interest rates for the near future.

In FX, EUR-USD remained strong during the last quarter of the year. Hopes of final approval of the US fiscal package and positive news on COVID-19 vaccine continued to support sentiment. We kept a currency exposure to USD (10%) as a countercyclical currency during bouts of “risk off”.

The Fund’s return during the period was negative. The first semester of the year, allocation to risky assets penalized Fund performance. We then switch to a more bearish allocation in terms of asset class and by tactically managing duration on rates but it was not enough for the complete recovery of accumulated losses. During last quarter, currency exposure was the main detractor to portfolio performance.

The Fund began the year with a prudent approach in terms of duration: given the extremely expensive level of euro Area yield, the main contribution comes from the allocation in US Treasuries. Current environment (the persistence of lockdown measures at global level on one hand and the widespread distribution of vaccines against the Covid-19 virus on the other hand) does not change the trading-range scenario for rates. The focus of central banks to maintain accommodative financial conditions and the need for investors to find attractive returns make any deep sell off of bond markets a buying opportunity.

Fund Share Class Performance ANIMA Star Bond Classic A -6.26% Classic B -5.72% I Dis -4.45% I -4.44% Prestige -5.14% Silver -5.32%

ANIMA Smart Volatility Europe

The Fund follows a quantitative approach, using a proprietary risk control model to determine exposure to European Stock Markets.

In the first semester, equity exposure has been particularly dynamic because of the pandemic crisis. The risk allocation moved from a maximum of 90% (January) to a minimum of 10% (mid-March). The subsequent market rebound allowed increasing the equity exposure, which was approximately 20% at the end of June.

Market recovery pushed through the second semester and the risk exposure increased to a maximum of 45% in mid-October. U.S. Presidential Elections and vaccine approval slowed down markets volatility normalization and equity allocation stabilized around 45% until the end of December.

During the year, overall equity exposure has been on average approximately 35%.

ANIMA Funds Plc 25 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Smart Volatility Europe (continued) The Fund will follow indications provided by the proprietary quantitative model.

Fund Share Class Performance ANIMA Smart Volatility Europe I -4.44%

ANIMA Smart Volatility Global

The Fund follows a quantitative approach, using a proprietary risk control model to determine exposure to Global Stock Markets.

In the first semester, equity exposure has been particularly dynamic because of the pandemic crisis. The risk allocation moved from a maximum of 90% (January) to a minimum of 10% (March). Due to high levels of volatility, the exposure has been stable until the end of June.

Market recovery pushed through the second semester and the risk exposure increased to a maximum of 35% in mid-October. U.S. Presidential Elections and vaccine approval slowed down markets volatility normalization and equity allocation stabilized around 45% until the end of December.

During the year, overall equity exposure has been on average approximately 30%.

The Fund will follow indications provided by the proprietary quantitative model.

Fund Share Class Performance ANIMA Smart Volatility Global I 1.72%

ANIMA Smart Volatility Italy

The Fund follows a quantitative approach, using a proprietary risk control model to determine exposure to Italian Stock Markets.

In the first semester, equity exposure has been particularly dynamic because of the pandemic crisis. The risk allocation moved from a maximum of 70% (January) to a minimum of 10% (March). The subsequent market rebound allowed increasing the equity exposure, which was approximately 20% at the end of June.

During the year, overall equity exposure has been on average approximately 30%.

The Fund will follow indications provided by the proprietary quantitative model.

Fund Share Class Performance ANIMA Smart Volatility Italy I -1.70%

ANIMA Smart Volatility USA

The Fund follows a quantitative approach, using a proprietary risk control model to determine exposure to U.S. Stock Markets.

In the first semester, equity exposure has been particularly dynamic because of the pandemic crisis. The risk allocation moved from a maximum of 90% (January) to a minimum of 10% (March). Due to high levels of volatility, the exposure has been stable until the end of June.

Market recovery pushed through the second semester and the risk exposure increased to a maximum of 40% in mid-October. U.S. Presidential Elections and vaccine approval slowed down markets volatility normalization, but in December equity allocation rose until 55% at the end of December.

During the year, overall equity exposure has been on average approximately 35%.

The Fund will follow indications provided by the proprietary quantitative model.

Fund Share Class Performance ANIMA Smart Volatility USA I 4.03%

ANIMA Funds Plc 26 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Smart Volatility Emerging Markets

The Fund follows a quantitative approach, using a proprietary risk control model to determine exposure to Emerging Countries Stock Markets.

In the first semester, equity exposure has been particularly dynamic because of the pandemic crisis. The risk allocation moved from a maximum of 75% (January) to a minimum of 10% (March). The subsequent market rebound allowed increasing the equity exposure, which was approximately 35% at the end of June.

Market recovery pushed through the second semester and the risk exposure constantly increased. At the end of December the equity allocation was around 65%.

During the year, overall equity exposure has been on average approximately 40%.

The Fund will follow indications provided by the proprietary quantitative model.

Fund Share Class Performance ANIMA Smart Volatility Emerging Markets I 0.22%

ANIMA Credit Opportunities

The net absolute performance achieved by the Fund as of 31/12/2020 is equal to 1.66%. The strong compression of the spread, which characterized the first two months of the year, saw an abrupt interruption due to the spread of the Covid-19 globally. Given the inability of healthcare systems to face the contagion, governments have found themselves forced to lock down entire countries, leading to the total and sudden collapse of consumption and global trade. The market reaction has been dramatic, due to repeated market participants attempting to reduce portfolio risk.

The correction took place with a force and speed perhaps never recorded before. The spread of the Xover index went from 300bps to 700bps in just two weeks, driven by the sales in the entire credit universe.

In addition to the problems deriving from the virus, other parallel issues have contributed to exacerbate the situation, including the failure of the agreement regarding the cut in oil production between the OPEC countries and Russia and the strong signs of stress recorded in the money market.

During the correction, the Fund eased its exposure to companies belonging to particularly affected sectors such as tourism, cars, raw materials, gaming and airlines; preferring instead companies exposed to food, packaging, telephony and technology. At the same time, all those companies that presented a high risk of facing a liquidity crisis, due to particularly weak cash flows or the amount of debt that had become unsustainable in the new context, were identified and sold.

The massive monetary and fiscal response from the authorities subsequently made it possible to stop the market correction. The intervention of the regulators aimed directly at supporting fundamental aspects such as employment, income, sovereign spreads and the cost of funding of companies. In this context, the exposure to the subordinated financial bonds and a recovery in the prices of the lower rating bands allowed the Fund to recover strongly from the lows reached at the peak of the sell off.

At the beginning of the recovery, some bonds previously sold at higher levels, were repurchased, especially in the financial, automotive, and consumer sectors.

The compression movement of the spread continued during the second half, thanks also to the improvement in the numbers relating to infections recorded at the beginning of the summer, which allowed for a reduction in limitations from governments.

The Fund benefited from this context thanks to the positive contribution provided by the subordinated financial and corporate bonds and to the exposure to BB sector.

Volatility began to rise again during the end of September, because of the worsening of the pandemic and investors’ expectations about deterioration in Macro data. At this time, the Fund did not materially modify its exposures by considering the increase in volatility as a temporary aspect related more to technical factors.

This choice allowed the Fund to benefit from the highly positive context that characterized the last quarter and in particular the month of November; justified by the expectations (which later occurred) for new interventions by the regulators (Monetary and Tax) and by the great confidence (subsequently rewarded) in the effectiveness of vaccines.

The portfolio continues to allocate its holdings mainly in the BB and BBB rating sectors. Financial sector is an important part of the portfolio; banks are the main players in monetary transmission and they are under direct supervision of the ECB. This may expose to a lower risk of default but still offering an interesting return. National champions and systemic issuers are preferred.

The Fund has a sufficient liquidity buffer to exploit any market opportunities.

ANIMA Funds Plc 27 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Credit Opportunities (continued) For the 2021 expansionary policies are expected to be maintained at both fiscal and monetary levels. The accommodative environment could favor temporary upward movements in expected inflation and nominal rates, which would likely be limited by the search for yield as well as by purchases by the ECB. A substantially lateral movement in spreads is expected for the current year, driven more by the Central Banks actions and by the technical aspects rather than by issuers’ fundamentals. It is expected a market weakness during the first half of the year, justified by the worsening of the pandemic numbers and by possible problems in the global vaccines distributions. Furthermore, the strong rally that have characterized risky assets could lead some investors to realize profits in the short term.

Fund Share Class Performance ANIMA Credit Opportunities I 1.66%

ANIMA Star High Potential Italy

The first weeks of 2020 saw a favorable financial environment, characterized by the reduction in geopolitical tensions between the United States and China, and by improving macro leading indicators. The Fund started the year with a net equity exposure of around 30%. However, the situation deteriorated rapidly in mid-February, with an average correction of global equity markets of -30%, once the danger of the Covid-19 virus and the speed of its expansion beyond China’s borders were better understood by the investment community. In particular, the FTSE MIB dropped 45%.

The investment team quickly reduced the net equity exposure, favoring the defensive sectors (in particular the pharmaceutical, telecommunications and utilities sectors) and the technology sector. In stock picking, particular attention was paid to identifying the companies that could benefit from the trends that emerged during the lockdowns, favoring those with a stronger financial profile.

Considering the strong monetary and fiscal stimulus, which were followed by an improvement in the macro leading indicators, the Fund maintained a positive net exposure with a tilt toward defensive sectors, in particular the pharmaceutical and utilities ones. Moreover, some themes supported by the new EU plan entered the portfolio, in particular those related to the renewables, digitalization, and infrastructure investments. After the strong recovery of the markets from the lows, the equity exposure has been progressively reduced since April, reaching a net exposure of about 15%.

However, during the third quarter of 2020, the European stock market enters into a trading range: the so-called ЉCovid WinnersЉ reach very high valuations and lose the momentum of the first part of the year, while the uncertainties about the prospects of the stocks most negatively affected by the pandemic remains alive. Considering the potential positive developments on the Covid vaccine approval process and the publication of the ЉRecovery FundЉ in Europe, the Fund has gradually increased its ЉvalueЉ tilt (mainly through the banking and insurance sectors), while maintaining its exposure to the themes supported by the new European plan. The net exposure during the period has been stable at around 15%.

The last quarter was characterized by the euphoria deriving from the positive news flow on the effectiveness of the anti-Covid vaccines, the geopolitical uncertainties surrounding the US elections (with the market welcoming the victory of the democratic candidate Joe Biden) and the Brexit negotiation (with an agreement reached at the last minute on December 24th). In this context, the sectoral and style rotation towards “value” has found strength. The investment team increased the exposure to the banking, oil, insurance and materials sectors. The net exposure was raised to 30% in November, and was further increased to 45% after the market correction in December.

The Fund used derivatives to tactically increase or decrease the Fund’s net exposure.

The Fund has consequently achieved an absolute negative net performance over the last twelve months, mainly due to sector allocation, rather than stock picking, with a negative contribution coming from the utilities and consumers discretionary sectors.

In 2021, we should see an acceleration of the economic recovery, thanks to both the accommodative monetary and fiscal policies, and to the Covid-19 vaccine rollout.

The Fund’s net equity exposure will continue to be managed tactically.

Fund Share Class Performance ANIMA Star High Potential Italy Classic A -7.29% Classic B -4.34% I -3.12% Prestige -4.00% Silver -4.23%

ANIMA Funds Plc 28 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Trading Fund

The Fund achieved a net positive performance in absolute terms. Equity markets started 2020 on a positive note, building on the 2019 strong run, only for Covid-19 to dramatically alter the setup. Originating in China in mid-December, Covid-19 spread rapidly in all countries from mid-February, causing strong uncertainty about the global economic growth and the global supply disruption, due to restrictive measures on economic activities implied by the social lockdown. Markets were supported by a positive reopening narrative, central bank-driven liquidity, potential vaccines/treatments, and economic data that surprised on the upside (PMI, Consumer Confidence). The MSCI All Country World Index rallied by +35% from the march bottom to complete the strongest 2Q since 2009.

During first half of the year, the net equity exposure of the Fund has been on average around 25%.

With the beginning of autumn and the approach of the US presidential elections, the percentage of equity investments gradually increased, supported by the positive news that promised the approval of several vaccines by the end of the year and the democratic victory in the presidential elections; a victory that would have allowed further fiscal stimuli in favor of the American economy, especially with a view to 2021. At the end of December, the equity exposure was over 60%.

The equity allocation contributed positively to the Fund’s performance. At sector level, the major contributions are attributable to health care, industrials and technology, while financials and consumer staples have had a negative impact.

Derivatives were used in order to protect the Fund in case of market correction.

The Fund name changed from ANIMA Star High Potential Global to ANIMA Trading Fund on 27th November 2020.

2020 was certainly an unpredictable year. The global economy has experienced what is arguably the deepest and fastest recession since World War II. However, most equity markets closed the year near historic highs. While waiting for moments of greater volatility, since the valuations are not particularly attractive, we continue to believe that the sectoral and geographical rotation that characterized the last period can continue. Growth expectations for 2021 have been revised upwards: accommodative policies, earnings recovery and a successful vaccination campaign should support our constructive medium-term orientation and any weaknesses will continue to be used to increase exposure to the cyclical part of the portfolio (industrials, raw materials, energy and discretionary consumption). However, we continue to maintain significant exposure to sectors exposed to structural issues (health and technology).

Fund Share Class Performance ANIMA Trading Fund Classic A 9.38% Classic B 10.68% I 11.39% Prestige 10.38% Silver 10.21%

ANIMA Active Selection

The investment objective of the Fund is to generate stable long-term rates of return and acceptable liquidity. The Fund seeks to achieve this objective by investing its assets primarily in funds, which invest in a variety of markets across several strategies. The investment allocation in collective investment schemes is based on a proprietary model that provides a dynamic allocation between two portfolios, a medium to high volatility portfolio (“satellite portfolio”) and a low to medium volatility portfolio (“core portfolio”). The satellite portfolio has a global asset allocation. The objective of the core portfolio is to limit the total volatility of the Fund, through the selection of collective investment schemes, which invest across fixed income and/or flexible/absolute return strategies (strategies that seeks to make positive returns in any market condition).

During the year the Fund invested in a range of funds managed by ANIMA Asset Management, ANIMA SGR S.p.A., AXA and Alliance Bernstein. The Fund started the year with a high exposure to the satellite portfolio (around 90%), due to a low level of equity volatility at the end of 2019. During the first quarter, more specifically in March, the equity volatility significantly increased, therefore the weight of the satellite portfolio was significantly reduced (at around 3%). During the second quarter the equity volatility remained relatively high, therefore the exposure to the satellite portfolio was maintained at a relatively low level, whereas in the third quarter the equity volatility started to decrease and the exposure to the satellite portfolio was increased to more than 40%. In the last two months of the year the equity volatility continued to gradually decrease and therefore the satellite portfolio was slightly increased further. The Fund’s negative return over the year is attributable to the negative return generated in the first quarter, and in particular it’s attributable to the negative contribution of the satellite portfolio during February and March, whereas in the following quarters of the year the Fund was able to generate a positive return and to partially recover the losses of the first quarter.

ANIMA Funds Plc 29 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Active Selection (continued) The Fund will continue to aim achieving its investment objectives by investing in two different components, core and satellite portfolio, following the indication of the proprietary allocation model. Within the two components, the strategy will continue implementing a flexible approach. The strategy will focus both in active management of asset allocation and in active fund selection of managers.

Fund Share Class Performance ANIMA Active Selection I -5.01%

ANIMA Smart Dividends Europe

The Fund follows a quantitative approach to determine the equity exposure using a proprietary risk control model and select European companies that provide high & stable dividends.

In the first semester, equity exposure has been particularly dynamic because of the pandemic crisis. The risk allocation moved from a maximum of 80% (January) to a minimum of 10% (March). The subsequent market rebound allowed increasing the equity exposure, which was approximately 20% at the end of June.

Market recovery pushed through the second semester and the risk exposure increased to a maximum of 50% in mid-October. U.S. Presidential Elections and vaccine approval slowed down markets volatility normalization and equity allocation stabilized around 60% until the end of December.

During the year, overall equity exposure has been on average approximately 40%.

The Fund will follow indications provided by the proprietary quantitative model.

Fund Share Class Performance ANIMA Smart Dividends Europe I -5.62%

ANIMA Flexible Bond

Anima Flexible Bond started the year with an exposure to the riskiest asset classes (em and corporate bond) equal to 25%. The duration was 4 years, mainly US treasury and BTP, only partially hedged by German debt futures.

This approach was modified during the first quarter following a two-phase strategy linked to the two different market responses to coronavirus diffusion. The first phase can be traced back to the period when Coronavirus was confined to China: rates were falling globally, but the spreads of corporate bonds, periphery bonds and emerging markets remained at the minimum levels of the year. The Fund reduced the duration exposure by hedging the portion deriving from inflation-linked securities, thus transforming the position from ЉlongЉ real rates to a position on the break even inflation. In this phase, BTP spread tightening also provided an opportunity to hedge the position by selling BTP futures. EM local currency bond was the only asset class negatively affected and the Fund increased the exposure in Brl and Huf, two countries (in February/March) away from the infection epicenter.

In the second phase the virus arrived in Italy and then in Europe and United States with the consequent generalized risk-off movement. The Fund gradually increased duration buying back BTPs. The position in credit securities was increased first with high yield securities and subsequently focusing on investment grade securities, the emerging component was also increased by selecting low beta countries, in order to increase yield to maturity and duration of the Fund.

In the second quarter, markets began to normalize after the circuit-break induced by high volatility due to the (first time ever) global implementation of lockdown measures.

In this context, we decided to tackle the second half maintaining the risk profile achieved during the crisis without further increasing and with a moderate duration risk concentrated on BTP.

During the third quarter we cut duration reducing BTPs and zeroing EM bonds exposure. Credits were increased to 40%.

The performance was slightly negative (about -0.03%) due to the fall in the price of emerging markets bonds and the depreciation of emerging currencies, the latest asset class to rebound.

The Fund was set up to face 2021 flatting duration and maintaining credit component at 40%.

Fund Share Class Performance ANIMA Flexible Bond I -0.03% Prestige -0.61% Silver -0.74%

ANIMA Funds Plc 30 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Solution 2022-I

The Fund aims to provide Shareholders with capital appreciation and with distributions at such times as the Company may determine, as detailed in the Prospectus. The Fund aims to achieve investment objectives by investing in two different components being a portfolio of government and corporate bonds and “active equity” (i.e. a portfolio which includes investment in collective investment schemes (including exchange-traded funds) with equity (satellite) and/or fixed income underlying, Euro money market Instruments, government bonds (core)).

Within the Љactive equityЉ component, the Fund started the year with a high exposure to the satellite portfolio (around 40%), due to a low level of equity volatility at the end of 2019. In March the equity volatility significantly increased and, as a result, the weight of the satellite portfolio has been strongly reduced (at around 5%). During the second quarter, the equity volatility remained relatively high, therefore the exposure to the satellite portfolio was maintained constantly at a low level (between 6% and 10%), whereas in the third quarter the equity volatility started to decrease and the exposure to the satellite portfolio was slightly increased. In the last two months of the year the equity volatility continued to gradually decrease and therefore the satellite portfolio was slightly increased up to around 15%. The Fund’s negative return over the year is attributable to the negative return generated in the first quarter, and in particular it’s attributable to the negative contribution of the Active Equity’s satellite portfolio during February and March, whereas in the following quarters of the year the Fund was able to generate a positive return and to partially recover the losses of the first quarter.

The Fund will continue to aim achieving its investment objectives by investing in two different components being a portfolio of government and corporate bonds and “active equity” . Within the active equity component, the Fund will continue to allocate to the satellite and core portfolios in a flexible and dynamic way, following the quantitative volatility model and drawdown protection model the strategy is based on. The fixed income component will continue to be allocated in a blend of Italian BTPs and Investment Grade Corporate Bonds with maturities close to the Fund time horizon.

Fund Share Class Performance ANIMA Solution 2022-I I -2.91%

ANIMA Solution 2022-II

The Fund aims to provide Shareholders with capital appreciation and with distributions at such times as the Company may determine, as detailed in the Prospectus. The Fund aims to achieve investment objectives by investing in two different components being a portfolio of government and corporate bonds and “active equity” (i.e. portfolio which includes investment in: collective investment schemes (including exchange-traded funds) with equity (satellite) and/or fixed income underlying, Euro money market Instruments, government bonds (core)).

Within the Љactive equityЉ component, the Fund started the year with a high exposure to the satellite portfolio (around 40%), due to a low level of equity volatility at the end of 2019. In March the equity volatility significantly increased and as a result, the weight of the satellite portfolio has been strongly reduced (at around 5%). During the second quarter, the equity volatility remained relatively high, therefore the exposure to the satellite portfolio was maintained constantly at a low level (between 6% and 10%), whereas in the third quarter the equity volatility started to decrease and the exposure to the satellite portfolio was slightly increased. In the last two months of the year the equity volatility continued to gradually decrease and therefore the satellite portfolio was slightly increased up to around 15%. The Fund’s negative return over the year is attributable to the negative return generated in the first quarter, and in particular it’s attributable to the negative contribution of the Active Equity’s satellite portfolio during February and March, whereas in the following quarters of the year the Fund was able to generate a positive return and to partially recover the losses of the first quarter.

The Fund will continue to aim achieving its investment objectives by investing in two different components being a portfolio of government and corporate bonds and “active equity”. Within the active equity component, the Fund will continue to allocate to the satellite and core portfolios in a flexible and dynamic way, following the quantitative volatility model and drawdown protection model the strategy is based on. The fixed income component will continue to be allocated in a blend of Italian BTPs and Investment Grade Corporate Bonds with maturities close to the Fund time horizon.

Fund Share Class Performance ANIMA Solution 2022-II I -3.15%

ANIMA Solution 2022-III

The Fund aims to provide Shareholders with capital appreciation and with distributions at such times as the Company may determine, as detailed in the Prospectus. The Fund aims to achieve investment objectives by investing in two different components being a portfolio of government and corporate bonds and “active equity” (i.e. a portfolio which includes investment in: collective investment schemes (including exchange-traded funds) with equity (satellite) and/or fixed income underlying, Euro money market Instruments, government bonds (core)).

ANIMA Funds Plc 31 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Solution 2022-III (continued) Within the Љactive equityЉ component, the Fund started the year with a high exposure to the satellite portfolio (around 50%), due to a low level of equity volatility at the end of 2019. In March the equity volatility significantly increased and as a result, the weight of the satellite portfolio has been strongly reduced (at around 7%). During the second quarter, the equity volatility remained relatively high, therefore the exposure to the satellite portfolio was maintained constantly at a low level (between 8% and 13%), whereas in the third quarter the equity volatility started to decrease and the exposure to the satellite portfolio was slightly increased. In the last two months of the year the equity volatility continued to gradually decrease and therefore the satellite portfolio was slightly increased up to around 20%. The Fund’s negative return over the year is attributable to the negative return generated in the first quarter, and in particular it’s attributable to the negative contribution of satellite portfolio during February and March, whereas in the following quarters of the year the Fund was able to generate a positive return and to partially recover the losses of the first quarter.

The Fund will continue to aim achieving its investment objectives by investing in two different components being a portfolio of government and corporate bonds and “active equity”. Within the active equity component, the Fund will continue to allocate to the satellite and core portfolios in a flexible and dynamic way, following the quantitative volatility model and drawdown protection model the strategy is based on. The fixed income component will continue to be allocated in a blend of Italian BTPs and Investment Grade Corporate Bonds with maturities close to the Fund time horizon.

Fund Share Class Performance ANIMA Solution 2022-III I -5.45%

ANIMA Solution 2023-I

The Fund aims to provide Shareholders with capital appreciation through investment in collective investment schemes, and, where market conditions so warrant, in money market and debt instruments. The investment allocation in collective investment schemes is based on a proprietary model that provides a dynamic allocation between two portfolios, a medium to high volatility portfolio (“satellite portfolio”) and a low to medium volatility portfolio (“core portfolio”). The objective of the core portfolio is to limit the total volatility of the Fund, through the selection of collective investment schemes, which invest across fixed income and/or flexible/absolute return strategies (strategies that seeks to make positive returns in any market condition). The satellite portfolio, which is expected to be the main driver of the Fund’s performance, will be mainly allocated to collective investment schemes investing in European equities markets with a long only approach.

During year the Fund invested in a range of funds managed by ANIMA Asset Management, ANIMA SGR S.p.A., AXA and Alliance Bernstein. The Fund started the year with a high exposure to the satellite portfolio (around 82%), due to a low level of equity volatility at the end of 2019. During the first quarter, more specifically in March, the equity volatility significantly increased and, as a result, the weight of the satellite portfolio was strongly reduced (at around 3%). During the second quarter the equity volatility remained relatively high, therefore the exposure to the satellite portfolio was maintained at a relatively low level, whereas in the third quarter the equity volatility started to decrease and the exposure to the satellite portfolio was increased to around 15%. In the last two months of the year the European equity volatility continued to gradually decrease and therefore the satellite portfolio was increased further up to around 22%. The Fund’s negative return over the year is attributable to the negative return generated in the first quarter, and in particular it’s attributable to the negative contribution of the satellite portfolio during February and March, whereas in the following quarters of the year the Fund was able to generate a positive return and to partially recover the losses of the first quarter.

The Fund will continue to aim achieving its investment objectives by investing in two different components, core and satellite portfolio, following the indication of the proprietary allocation model. Within the two components, the strategy will continue implementing a flexible approach. The strategy will focus both in active management of asset allocation and in active fund selection of managers.

Fund Share Class Performance ANIMA Solution 2023-I I -6.13%

ANIMA Solution EM

The Fund aims to provide Shareholders with capital appreciation through investment in collective investment schemes, and, where market conditions so warrant, in money market and debt instruments. The investment allocation in collective investment schemes is based on a proprietary model that provides a dynamic allocation between two portfolios, a medium to high volatility portfolio (“satellite portfolio”) and a low to medium volatility portfolio (“core portfolio”). The objective of the core portfolio is to limit the total volatility of the Fund, through the selection of collective investment schemes, which invest across fixed income and/or flexible/absolute return strategies (strategies that seeks to make positive returns in any market condition). The satellite portfolio, which is expected to be the main driver of the Fund’s performance, will be mainly allocated to collective investment schemes investing in Emerging equities markets with a long only approach.

ANIMA Funds Plc 32 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Solution EM (continued) During year the Fund invested in a range of funds managed by ANIMA Asset Management, ANIMA SGR S.p.A., AXA and Alliance Bernstein. The Fund started the year with a high exposure to the satellite portfolio (around 88%), due to a low level of equity volatility at the end of 2019. During the first quarter, more specifically in March, the equity volatility significantly increased and, as a result, the weight of the satellite portfolio was strongly reduced (at around 4%). During the second quarter the equity volatility remained relatively high, therefore the exposure to the satellite portfolio was maintained at a low level, whereas in the third quarter the equity volatility started to decrease and the exposure to the satellite portfolio was increased to around 18%. In the last two months of the year the Emerging Markets equity volatility continued to gradually decrease and therefore the satellite portfolio was increased further up to around 27%. The Fund’s negative return over the year is attributable to the negative return generated in the first quarter, and in particular it’s attributable to the negative contribution of the satellite portfolio during February and March, whereas in the following quarters of the year the Fund was able to generate a positive return and partially recovered the losses of the first quarter.

Fund Share Class Performance ANIMA Solution EM I -5.43%

ANIMA Italian Bond

The Fund started the year with a Duration broadly in line with the benchmark, as we predicted European yields to be stuck in tight ranges near the levels seen in late 2019, given ample liquidity guaranteed by most relevant Central Banks which we expected to keep rates unchanged for the foreseeable future. More specifically, the Fund had a significant overweight in Italian bonds, counterbalanced by short positions in Germany and France; indeed, we had a positive stance on peripheral-core spreads justified by a combination of deep support from the ECB purchases, a slowing but still ongoing economic cycle, and an attractive carry to exploit. We also increased somewhat the exposure to Italy in January, after the positive outcome of Regional elections allowed the ruling parties to keep governing the country without calling for early elections. In addition, we invested a relevant, even if lower than in 2019, portion of the portfolio in Inflation-linked issues, as expected inflation priced in bond markets was still quite low.

Equity markets and spread products enjoyed a quite good start of the year as macroeconomic data were encouraging and US and China signed a Phase-One trade deal, but between February and early March financial markets were profoundly hit by the global health emergency caused by the spread of Coronavirus. While apparently contained within China and some Asian neighbors, the Virus finally reached Western countries, starting from Italy, where it was officially detected in late February. The consequence of this emergency has been the almost complete lockdown of the population in many countries, that has clearly caused a massive fall in economic activity in basically every sector and recorded the worst recession since World War II. Such a strong hit to the economic environment forced both Governments and Central Banks to intervene with powerful and exceptional supporting measures to avoid a complete collapse and foster the recovery. The sharpest intervention happened in the US where the FED cut rates to 0, and started huge buying programs of Treasuries and other securities; in Euro area the ECB after a first shy reaction, launched a new QE scheme (Pandemic Emergency Purchase Program) in order to prevent peripheral countries spreads to rise disorderly to too high levels.

We faced the most severe phase in the markets by buying Duration in safe heaven countries (mainly Germany), particularly in the longer maturities, in order to hedge the big decline in peripheral bond prices. We didn’t cut the exposure to Italy, partly because liquidity in the market disappeared for weeks, but also because we judged the supporting measures taken by both the ECB, the domestic Government, and the European Institution, as sufficient to counter the forced selling in the markets, Rating downgrades and increased public debt issuance. Indeed, after the storm ceased, we also increased somewhat the weight of Italian BTPs in the Fund, focusing on the short end of the curve where yields had reached very cheap levels. On the opposite, since late March we started to reduce Duration in Germany re-establishing pure long spread positions. Lately, as long as the recovery went through and spreads came back to more fair levels (Italy-Germany below 200 basis points) we reduced the size of this position in gradual steps.

During Summer, as long as fiscal and monetary stimulus started to affect the real economy, and new Virus contagion kept slowing, financial markets have been marked by very low volatility and very positive returns for risky assets. While bond yields in Germany and other Euro Core countries were consolidating in very tight ranges, Peripheral ones kept sliding slowly to lower levels. This dynamic was also accelerated by market friendly results in the Constitutional Referendum and regional elections held in late September, which pushed international investor to finally increase their holding of Italian debt securities after many months. The

ANIMA Funds Plc 33 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Italian Bond (continued) Joe Biden win in the US Presidential elections in the end, had the effect to pull global bond yields somewhat higher, even in the Euro area; this movement has been largely offset by a further compression of Peripheral spreads, so that Italian yields basically consolidated near the year lows, to end December with the 10 year rate around 0.55%, while Bunds closed 2020 at -0.57%.

During the second half we kept taking profit on our long Italy strategic position, as long as yields were falling, to close the year on a neutral position. At the same time we also gradually removed the Core countries short positions, after Biden victory and the initial vaccine production from Pfizer caused a jump in global bond yields. Finally, we also reduced somewhat our exposure to Inflation-linked bonds, given the good performance produced since May.

In the year the Fund reported a net positive absolute performance which came in below the benchmark. The underperformance was mainly due to the big volatility in Italian bonds prices, even if spreads kept tightening along the rest of the year. Other negative contributions came from the sharp decline of Breakeven Inflation, partially recovered in the second semester.

In 2021 we expect European yields to remain quite stable at historically very low levels, with very compressed volatility, particularly in the short-end, thanks to the strong support by the ECB, which will aim to keep very accommodative financial conditions in the economy. The long-end will eventually suffer a little as US yields will probably be under pressure because of the huge stimulus package that should be launched by the Biden administration, and expectation of reflation in the economy. Looking at Italy, we think that the bulk of the tightening in spreads versus Core countries has already taken place in 2020, reducing room for overperformance going forward. Nevertheless, as there is some extra carry attached yet, we suspect many investors will be attracted again by BTPs, so we think that any widening caused by endogenous factors or by sell-offs in risky assets will be considered a buying opportunity. Therefore, we expect to keep the exposure to Italian assets moderately above the Benchmark, looking to increase it during the year.

Fund Share Class Performance ANIMA Italian Bond I 4.61% Silver 3.66%

ANIMA Italian Equity

During year 2020, the Fund had a net absolute negative and a relative negative performance against the benchmark.

After a positive start, the year was affected by the explosion of the Covid-19 epidemic affected with the FTSE MIB index losing more than 40 percentage points from the top. During this correction phase, absolute and relative performance deteriorated. In particular, an underweight position on some pharma stocks hit the Fund performance: in our opinion, these stocks were showing high and unattractive multiples despite strong fundamentals. The lockdown imposed by the epidemic led many companies to suspend, either as a precaution or as a regulator imposition as in the financial sector, the distribution of dividends, penalizing the portfolio dividend-driven approach. For these reasons, also stocks with a strong domestic exposure underperformed in relative terms. From the middle of March, the main equity markets began a gradual recovery, supported by vigorous monetary policies of the main central banks and by the substantial fiscal stimulus adopted by the different governments. In Europe, the crisis created the opportunity to find a unity of purpose and to transform a huge challenge into an opportunity through the proposal of a Recovery Fund of € 750bn, including grants and loans, and financed through the issue of European bonds. In the purposes of the European Commission, this should represent an investment for the future through the project financing in fields like the green economy, the digitalization and the healthcare sectors. Italy should receive the highest absolute share of the Recovery Fund, about 20%, obtaining, if approved, a significant boost for economic recovery and modernization of some parts of the economy. Since the beginning of November, market sentiment has further improved with the fading of some important risk factors (eg. US elections) and the first evidence of vaccine effectiveness. The recovery of the market allowed the Italian market to limit losses for the whole 2020. During the year, the portfolio has been hit hard by the underweight in the pharmaceutical sector, where there was an underweight position, for valuation reasons, on some stocks that were positively impacted by the market environment. The contribution of the Telecom sector was also negative. In Financials, the negative contribution is driven by the underweight on commercial banks against an exposure on stocks more resilient on the current environment. Positive contribution from the consumer discretionary sector that benefited by the underweight position on some stocks massively hit by the pandemic (eg. luxury or exposed to people mobility). Positive contribution also by the underweight position in the energy sector and the overweight in the technology and utilities sectors. Finally, also the basic materials sector contributed positively driven by both the stock picking and the allocation.

Looking forward in 2021, the market conditions are supportive given a normalization of the economic activity linked to the vaccines distribution and supportive monetary and fiscal policies. Given this expected environment, the Fund starts the year with an overweight equity exposure. It should benefit on those themes and sectors that would benefit of the structural investments identified by the Recovery Fund and that, in the near term, should prove resilient to face a context of social distancing. As example, the technology sector, which should benefit from the extraordinary acceleration of the digitization process, the telecommunications sector, which should benefit from the greater perception of the strategic importance of an infrastructure that

ANIMA Funds Plc 34 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Italian Equity (continued) guarantees efficient connectivity. Overweight also in the healthcare sector given the increase in investments, both to manage the emergency phase and, in the future, to cover the potential risk of a future health emergency. A cautious approach has been maintained on the most cyclical sectors (industrials, luxury) since we believe they are properly priced.

Fund Share Class Performance ANIMA Italian Equity I -2.36% Silver -3.49%

ANIMA High Yield Bond

The net performance achieved by the fund as of 31/12/2020 is positive and above the reference index. The strong compression of the spread, which characterized the first two months of the year, saw an abrupt interruption due to the spread of the Covid-19 globally. Given the inability of healthcare systems to face the contagion, governments have found themselves forced to lock down entire countries, leading to the total and sudden collapse of consumption and global trade.

The market reaction has been dramatic, due to repeated market participants attempting to reduce portfolio risk.

During the correction, the fund eased its exposure to companies belonging to particularly affected sectors such as tourism, cars, raw materials, gaming and airlines; preferring instead companies exposed to food, packaging, telephony and technology. At the same time, all those companies that presented a high risk of facing a liquidity crisis, due to particularly weak cash flows or the amount of debt that had become unsustainable in the new context, were identified and sold.

The massive monetary and fiscal response from the authorities subsequently made it possible to stop the market correction. The intervention of the regulators aimed directly at supporting fundamental aspects such as employment, income, sovereign spreads and the cost of funding of companies. In this context, the exposure to the subordinated financial bonds and a recovery in the prices of the lower rating bands allowed the fund to recover strongly from the lows reached at the peak of the sell off.

At the beginning of the recovery, to further support the fund’s performance, some convertible bonds of companies operating in sectors that ЉbenefitedЉ from the current context (delivery or technology companies) were purchased tactically. With the same objective, other bonds previously sold at higher levels, were repurchased, especially in the Auto and Consumer sectors.

The fund benefited from this context thanks to the positive contribution provided by the subordinated financial bonds and to the overweight on the single Bs and subordinated corporate bonds. In addition, the convertible bond portfolio also contributed positively.

Volatility began to rise again during the end of September, because of the worsening of the pandemic and investors’ expectations about deterioration in Macro data. At this time, the fund did not materially modify its exposures by considering the increase in volatility as a temporary aspect related more to technical factors.

This choice allowed the fund to benefit from the highly positive context that characterized the last quarter and in particular the month of November; justified by the expectations (which later occurred) for new interventions by the regulators (Monetary and Tax) and by the great confidence (subsequently rewarded) in the effectiveness of vaccines.

The portfolio continues to hold an overweight on the financial sector (including subordinated bonds); banks are the main players in monetary transmission and they are under direct supervision of the ECB. This may expose to a lower risk of default but still offering an interesting return. National champions and systemic issuers are preferred.

The fund remains exposed to the BB segment even if with an underweight position compared to the reference benchmark; these bonds have a tight spread when compared to historical levels and offer a limited upside. An overweight on the single B is maintained even if using stringent fundamental analysis parameters in the selection.

The convertible portfolio was reduced after the sharp rally in the stock market, but it is not ruled out to buy again the asset class in line with market developments.

The duration of the portfolio is slightly below that of its benchmark. The fund has a sufficient liquidity buffer to exploit any market opportunities.

ANIMA Funds Plc 35 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA High Yield Bond (continued) For the 2021 expansionary policies are expected to be maintained at both fiscal and monetary levels. The accommodative environment could favor temporary upward movements in expected inflation and nominal rates, which would likely be limited by the search for yield as well as by purchases by the ECB. A substantially lateral movement in spreads is expected for the current year, driven more by the Central Banks actions and by the technical aspects rather than by issuers’ fundamentals. It is expected a market weakness during the first half of the year, justified by the worsening of the pandemic numbers and by possible problems in the global vaccines distributions. Furthermore, the strong rally that have characterized risky assets could lead some investors to realize profits in the short term.

Fund Share Class Performance ANIMA High Yield Bond Class I 2.09%

ANIMA Bond 2022 Opportunities

The net result achieved by the Fund as of 31/12/2020 is equal to 1.00%. The strong compression of the spread, which characterized the first two months of the year, saw an abrupt interruption due to the spread of the Covid-19 globally. Given the inability of healthcare systems to face the contagion, governments have found themselves forced to lock down entire countries, leading to the total and sudden collapse of consumption and global trade. The market reaction has been dramatic, due to repeated market participants attempting to reduce portfolio risk.

At the beginning of the recovery, some bonds previously sold at higher levels, were repurchased, especially in the Auto and Consumer sectors.

The Fund benefited from this context thanks to the positive contribution provided by BBs and single Bs, and the recovery of sectors mostly impacted by the crisis.

The portfolio continues to allocate its holdings mainly in the BB and single B rating sectors. Financial sector represent an important part of the portfolio; banks are the main players in monetary transmission and they are under direct supervision of the ECB. This may expose to a lower risk of default but still offering an interesting return. National champions and systemic issuers are preferred.

The duration of the portfolio is closely aligned with the objective of the mandate. The Fund has a sufficient liquidity buffer to exploit any market opportunities.

For the current year, expansionary policies are expected to be maintained at both fiscal and monetary levels. The accommodative environment could favor temporary upward movements in expected inflation and nominal rates, which would likely be limited by the search for yield as well as by purchases by the ECB. A substantially lateral movement in spreads is expected for the current year, driven more by the Central Banks actions and by the technical aspects rather than by issuers’ fundamentals. It is expected

ANIMA Funds Plc 36 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Bond 2022 Opportunities (continued) a market weakness during the first half of the year, justified by the worsening of the pandemic numbers and by possible problems in the global vaccines distributions. Furthermore, the strong rally that have characterized risky assets could lead some investors to realize profits in the short term.

Fund Share Class Performance ANIMA Bond 2022 Opportunities I 1.00%

ANIMA Global Macro

The market reaction has been dramatic, due to repeated market participants attempting to reduce portfolio risk.

The massive monetary and fiscal response from the authorities subsequently made it possible to stop the market correction. The intervention of the regulators aimed directly at supporting fundamental aspects such as employment, income, sovereign spreads and the cost of funding of companies. In this context, the exposure to the subordinated financial bonds and a recovery in the prices of the lower rating bands allowed the fund to recover strongly from the lows reached at the peak of the sell off.

Volatility began to rise again during the end of September, because of the worsening of the pandemic and investors’ expectations about deterioration in Macro data. At this time, the fund did not materially modify its exposures by considering the increase in volatility as a temporary aspect related more to technical factors.

The convertible portfolio was reduced after the sharp rally in the stock market, but it is not ruled out to buy again the asset class in line with market developments.

The duration of the portfolio is slightly below that of its benchmark. The fund has a sufficient liquidity buffer to exploit any market opportunities.

ANIMA Funds Plc 37 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Global Macro (continued) For the 2021 expansionary policies are expected to be maintained at both fiscal and monetary levels. The accommodative environment could favor temporary upward movements in expected inflation and nominal rates, which would likely be limited by the search for yield as well as by purchases by the ECB. A substantially lateral movement in spreads is expected for the current year, driven more by the Central Banks actions and by the technical aspects rather than by issuers’ fundamentals. It is expected a market weakness during the first half of the year, justified by the worsening of the pandemic numbers and by possible problems in the global vaccines distributions. Furthermore, the strong rally that have characterized risky assets could lead some investors to realize profits in the short term.

Fund Share Class Performance ANIMA Global Macro Classic A 3.29% I 5.04%

ANIMA Brightview 2023-I

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Euro Equity Instruments, (ii) entering in a Total Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net negative absolute performance.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2023-I I -1.50%

ANIMA Brightview 2023-II

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2023-II I 1.75%

ANIMA Brightview 2023-III

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2023-III I 0.78%

ANIMA Brightview 2023-IV

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance.

ANIMA Funds Plc 38 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Brightview 2023-IV (continued) The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2023-IV I 1.92%

ANIMA Brightview 2024-I

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 85% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 1.56% in January.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2024-I I 2.21%

ANIMA Brightview 2024-II

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 1.04% in April.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2024-II I 1.71%

ANIMA Brightview 2024-III

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 2.6% in July.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2024-III I 5.50%

ANIMA Brightview 2024-IV

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 3.37% in September.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2024-IV I 1.85%

ANIMA Funds Plc 39 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Brightview 2024-V

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 100% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 1.30% in January.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2024-V I 3.45%

ANIMA Brightview 2025-I

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 2.60% in June.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2025-I I 3.16%

ANIMA Brightview 2027-I

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 100% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 0.83% in March.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview 2027-I I 6.36%

ANIMA Brightview-II

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 1.04% in October.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview-II I 2.18%

ANIMA Brightview-III

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance.

ANIMA Funds Plc 40 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Brightview-III (continued) The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview-III I 2.65%

ANIMA Brightview-IV

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview-IV I 3.30%

ANIMA Brightview-V

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview-V I 2.70%

ANIMA Brightview-VI

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

In 2020 the Fund reported a net positive absolute performance.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview-VI I 5.07%

ANIMA Brightview-VII

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 90% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview-VII I 3.47%

ANIMA Funds Plc 41 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Brightview-VIII

The objective of the Fund is to seek to provide a positive investment return linked to an exposure to a dynamically managed basket of equity and fixed income indices, while aiming to protect the Fund’s NAV per Share at 85% of the initial offer price at the Maturity Date. The Fund aims to achieve its investment objectives by (i) direct investment in Debt Instruments, (ii) entering in an Interest Return Swap, (iii) exposure to the Actively Managed Portfolio and achieving the protection element.

The effective investment strategy of the Fund will start in 2021; during the 2020, the Fund is in its subscription period and it is managed mainly in money market instruments.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Brightview-VIII I -0.11%

ANIMA Orizzonte Europa 2022

The Fund is being primarily structured as a fund seeking to provide a positive return to investors at the Maturity Date. The objective of the Fund is (i) to seek to provide Shareholders with two Dividends on the Dividend Payment Dates; (ii) to seek to provide Shareholders with capital appreciation at the Maturity Date, while trying to limit downside in adverse market conditions. After the Maturity Date, the objective of the Fund will be to provide liquidity and current income, to the extent of preservation of capital. The Fund will seek to achieve its investment objectives by investing in different components: (i) Debt Instruments; (ii) Interest Rate Swap; (iii) Equity Swap. In 2020 the Fund reported a net negative absolute performance.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Orizzonte Europa 2022 Silver -2.91%

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato

In 2020 the Fund reported a net negative absolute performance. The Fund paid a coupon of 1% in October.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Orizzonte Europa 2023 - Rendimento Silver -2.37% Bilanciato

ANIMA Orizzonte Sostenibile 2023

In 2020 the Fund reported a net negative absolute performance. The Fund paid a coupon of 1% in April.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Orizzonte Sostenibile 2023 Silver -1.53%

ANIMA Funds Plc 42 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Orizzonte Benessere 2023

In 2020 the Fund reported a net negative absolute performance. The Fund paid a coupon of 1% in July.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Orizzonte Benessere 2023 Silver -0.88%

ANIMA Orizzonte Consumi 2023

In 2020 the Fund reported a net negative absolute performance. The Fund paid a coupon of 1.25% in December.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Orizzonte Consumi 2023 Silver -0.98%

ANIMA Orizzonte Energia 2023

In 2020 the Fund reported a net positive absolute performance. The Fund paid a coupon of 1.25% in October.

The management of the Fund is linked to a buy to hold strategy for the whole portfolio.

Fund Share Class Performance ANIMA Orizzonte Energia 2023 Silver 3.90%

ANIMA Defensive

The Fund’s investment objective is to seek to provide Shareholders with medium term capital growth and to deliver protection at Minimum Target NAV over the life of the Fund. The Fund aims to achieve investment objectives by investing in two different components being, an actively managed portfolio of UCITS Collective Investment Schemes, including both Equity or Bond funds (the Satellite Portfolio) and Money Market Instruments and a portfolio of UCITS Collective Investment Schemes investing in Money Market Instruments (Core Portfolio).

The Fund started the year with an exposure to the Satellite Portfolio of around 60%, represented mainly by long only fixed income funds (government bond and corporate investment grade bond funds). The exposure and the composition of the Satellite Portfolio was not changed significantly during the first quarter, whereas during the second quarter, due to a decrease of the volatility in the fixed income market, the Satellite Portfolio has been increased mainly through corporate investment grade funds, and at a lesser extent, high yield, hybrid and emerging market bond funds. The weight of the Core Portfolio has been decreased accordingly. In the third quarter the equity volatility started to decrease, therefore the composition of the Satellite Portfolio was slightly changed, through a relatively small equity funds allocation and a reduction in the fixed income funds allocation. In the last

ANIMA Funds Plc 43 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Defensive (continued) two months of the year the market volatility continued to gradually decrease and therefore the Satellite Portfolio was slightly increased through global equity funds. The Fund’s positive return over the year is attributable to the positive return generated during the second part of the year, and in particular it is attributable to the positive contribution of Satellite Portfolio.

The Fund will continue to aim achieving its investment objectives (medium term capital growth and to deliver protection at Minimum Target NAV) by investing in two different components, the Satellite Portfolio (an actively managed portfolio of UCITS Collective Investment Schemes, including both Equity and Fixed Income funds) and the core Portfolio (Money Market Instruments and a portfolio of UCITS Collective Investment Schemes investing in Money Market Instruments). The Fund will continue to maintain a relatively defensive profile in the short term, with a conservative allocation to equity funds and a balanced allocation between government and corporate bond funds, but it’s ready to exploit market opportunities that may possibly arise both in equity and in fixed income markets, in order to achieve its goals of capital growth and at the same time robust capital protection.

Fund Share Class Performance ANIMA Defensive Silver 2.12%

ANIMA Zephyr Global

In 2020 the Fund delivered a net positive performance of 0.40%. The investment activity followed the quantitative methods developed by the team. The Fund started 2020 with an equity exposure of 27%, which varied during the year from a minimum of 17% in April to a maximum of 33% reached in November. The Fund concluded the year with this equity exposure.

In the Fixed Income component, around 80% of the portfolio has been invested in Italian Government debt, while the remaining part has been invested in other Eurozone government bonds, mainly Spain, Portugal and Ireland in the 3-5 year bucket of the curve. A significant part of the investment in Italy was dedicated to floating rates CCTs, in order to have more exposure to Italy-Germany spread rather than to outright interest rates, and inflation-linked BTP Italia, as we judge Italian inflation as mispriced; as a result the portfolio had a remarkable exposure to peripheral-core spreads with a moderate Duration. During the year the structure of the portfolio has been kept stable, while we added some Duration to Italian holdings when the stress in the market pushed yields to very attractive levels, and lengthened somewhat the average maturity after yields in the short-end fell sharply below zero.

The Fund will continue to adopt the investment strategies provided by the quantitative models internally developed. The fixed-income component is expected to continue to privilege the higher carry offered by the Italian debt market. The Duration of the Fund will be kept low as we expect European yields to gradually drift higher from record low levels.

Fund Share Class Performance ANIMA Zephyr Global I 0.40%

ANIMA Zephyr Global Allocation

In 2020 the Fund delivered a net positive performance of 1.22%. The investment activity followed the quantitative methods developed by the team. About the multi-asset component, the Fund started 2020 with an equity exposure of about 25%, which varied during the year from a minimum of 13% in April to a maximum of almost 30% reached in November. The Fund concluded the year with this equity exposure. Corporate bond exposure, that started the 2020 at almost 5% of NAV, was reduced to its minimum value of 2% during April and then progressively increased to the level of 4% November.

Fund Share Class Performance ANIMA Zephyr Global Allocation I 1.22%

ANIMA Funds Plc 44 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA Zephyr New

In 2020 the Fund delivered a net positive performance of 4.62%. The Fund has been launched in February (first NAV: 02/12/2020) The investment activity followed the quantitative methods developed by the team. About the multi-asset component, the Fund started with an equity exposure of 0% due to the high level of uncertainty during the period of the launch. Then this exposure has been increased starting from May to a maximum of almost 45% reached in December. The Fund concluded the year with this equity exposure. Moreover, the multi-assets component presented a duration of almost 1.5 years, increased progressively starting from May.

Fund Share Class Performance ANIMA Zephyr New I 4.62%

ANIMA Zephyr Real Assets

In 2020 the Fund delivered a net negative performance of -0.52%. The investment activity followed the quantitative methods developed by the team. About the multi-asset component, the Fund started 2020 with an equity exposure of about 20%, which varied during the year from a minimum of 10% in April to a maximum of almost 20% reached in November. The Fund concluded the year with this equity exposure. Commodity exposure, that started the 2020 at almost 10% of NAV, was reduced to its minimum value of 6% during April and then progressively increased to the level of 14% November.

Fund Share Class Performance ANIMA Zephyr Real Assets I -0.52%

ANIMA International Bond

During the 2020 the Fund achieved a negative net performance in absolute terms and lower than the reference benchmark, in fact the Fund was penalized by the increase in government bond yields worldwide, even if it maintained a lower duration exposure compared to the benchmark. During the first quarter, government bond yields in the United States and Europe fell significantly, in the wake of lower than expected economic data, the spread of the Covid epidemic and a huge expansive monetary policy. As regards investment policies, the portfolio allocation at the beginning of the year was characterized by a gradual decrease in the portfolio duration compared to the benchmark, in conjunction with the phase of drop in government bond yields, followed by an increase in duration in the second semester, closing the month of December with an overall duration of 8.5 years using derivative instruments to hedge the underlying position in government bonds.

The portfolio was constructed with an underweight in US, German fixed-rate securities. From the point of view of currency risk, exposure to the dollar was strategically managed, creating an underweight US dollar against the benchmark during the first quarter. At the moment the currency position is underweight usd by 1% compared to the reference benchmark.

ANIMA Funds Plc 45 ANIMA Funds Plc Manager’s Report for the financial year ended 31 December 2020 (continued)

ANIMA International Bond (continued) In the 2021 the future outlook remains uncertain, due to the strong spread of Covid contagion in many areas of the globe, and due to the fears about a weak global economic growth. Anyway, we don’t forget the help of monetary and fiscal authorities through further stimulus measures during the next months.

In this context, the Fund maintains an underweight duration exposure compared to the benchmark and a slight underweight to the US dollar.

Fund Share Class Performance ANIMA International Bond Class I -1.40%

The Manager ANIMA SGR S.p.A. Milan, 21 April 2021

ANIMA Funds Plc 46 ANIMA Funds Plc Report of the Depositary to the Shareholders

We have enquired into the conduct of ANIMA Funds Plc (the ЉCompanyЉ) for the financial year ended 31 December 2020, in our capacity as Depositary to the Company.

This report including the opinion has been prepared for and solely for the shareholders in the Company as a body, in accordance with Regulation 34, (1), (3) and (4) in Part 5 of the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended, (‘the UCITS Regulations’), and under the Central Bank (Supervision Enforcement) Act 2013 (Section 48 (i)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 (the “Central Bank UCITS Regulations”), and for no other purpose. We do not, in giving this opinion, accept or assume responsibility for any other purpose or to any other person to whom this report is shown.

Responsibilities of the Depositary

Our duties and responsibilities are outlined in Regulation 34, (1), (3) and (4) in Part 5 of the UCITS Regulations. One of those duties is to enquire into the conduct of the Company in each annual accounting period and report thereon to the shareholders.

Our report shall state whether, in our opinion, the Company has been managed in that financial year in accordance with the provisions of the Company’s constitution (the “Constitution”) and the UCITS Regulations. It is the overall responsibility of the Company to comply with these provisions. If the Company has not so complied, we as Depositary must state why this is the case and outline the steps which we have taken to rectify the situation.

Basis of Depositary Opinion

The Depositary conducts such reviews as it, in its reasonable opinion, considers necessary in order to comply with its duties as outlined in Regulation 34, (1), (3) and (4) in Part 5 of the UCITS Regulations and to ensure that, in all material respects, the Company has been managed (i) in accordance with the limitations imposed on its investment and borrowing powers by the provisions of the Constitution and the UCITS Regulations and (ii) otherwise in accordance with the Constitution and the appropriate regulations.

Opinion

In our opinion, the Company has been managed during the financial year, in all material respects:

(i) in accordance with the limitations imposed on the investment and borrowing powers of the Company by the Constitution, the UCITS Regulations and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019, (‘the Central Bank UCITS Regulations’); and

(ii) otherwise in accordance with the provisions of the Constitution, the UCITS Regulations and the Central Bank UCITS Regulations.

State Street Custodial Services (Ireland) Limited 78 Sir John Rogerson’s Quay Dublin 2 Ireland

21 April 2021

ANIMA Funds Plc 47

Deloitte Ireland LLP Chartered Accountants & Statutory Audit Firm

INDEPENDENT AUDITOR’S REPORT TO THE SHAREHOLDERS OF ANIMA FUNDS PLC

Report on the audit of the financial statements

Opinion on the financial statements of Anima Funds plc (the “company”) In our opinion the financial statements:  give a true and fair view of the assets, liabilities and financial position of the company as at 31 December 2020 and of the profit for the financial year then ended; and  have been properly prepared in accordance with the relevant financial reporting framework and, in particular, with the requirements of the Companies Act 2014.

The financial statements we have audited comprise:  the Statement of Comprehensive Income;  the Statement of Financial Position;  the Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares;  the Statement of Cash Flows; and  the related notes 1 to 27, including a summary of significant accounting policies as set out in note 1.

The relevant financial reporting framework that has been applied in their preparation is the Companies Act 2014 and International Financial Reporting Standards (IFRS) as adopted by the European Union (“the relevant financial reporting framework”).

The applicable regulations that have been applied in their preparation is the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 and Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations, 2019 (“the applicable Regulations”).

Basis for opinion We conducted our audit in accordance with International Standards on Auditing (Ireland) (ISAs (Ireland)) and applicable law. Our responsibilities under those standards are described below in the “Auditor's responsibilities for the audit of the financial statements” section of our report.

We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in Ireland, including the Ethical Standard issued by the Irish Auditing and Accounting Supervisory Authority, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively , may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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INDEPENDENT AUDITOR’S REPORT TO THE SHAREHOLDERS OF ANIMA FUNDS PLC

Other information The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

Responsibilities of directors As explained more fully in the Statement of Directors’ Responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and otherwise comply with the Companies Act 2014, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (Ireland) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (Ireland), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.

 Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

 Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of the auditor’s report. However, future events or conditions may cause the entity (or where relevant, the group) to cease to continue as a going concern.

 Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that the auditor identifies during the audit.

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ANIMA Funds Plc 47B

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INDEPENDENT AUDITOR’S REPORT TO THE SHAREHOLDERS OF ANIMA FUNDS PLC

Report on other legal and regulatory requirements

Opinion on other matters prescribed by the Companies Act 2014 Based solely on the work undertaken in the course of the audit, we report that:

 We have obtained all the information and explanations which we consider necessary for the purposes of our audit.  In our opinion the accounting records of the company were sufficient to permit the financial statements to be readily and properly audited.  The financial statements are in agreement with the accounting records.  In our opinion the information given in the directors’ report is consistent with the financial statements and the directors’ report has been prepared in accordance with the Companies Act 2014.

Matters on which we are required to report by exception Based on the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the provisions in the Companies Act 2014 which require us to report to you if, in our opinion, the disclosures of directors’ remuneration and transactions specified by law are not made.

Use of our report This report is made solely to the company’s members, as a body, in accordance with Section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Brian Forrester For and on behalf of Deloitte Ireland LLP Chartered Accountants and Statutory Audit Firm Deloitte & Touche House, Earlsfort Terrace, Dublin 2

Date: 29 April 2021

ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020

ANIMA ANIMA Short Term ANIMA Medium Term ANIMA Bond1 CorporateANIMA Global Bond Total Company ANIMA Liquidity Short Term Bond Bond Year endedDollar Year endedBond ANIMA Life Bond Year ended Year ended Year ended Year ended 31 DecemberYear ended 2020 31 DecemberYear ended 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 DecemberEUR 2020 31 DecemberEUR 2020 Income Notes EUR EUR EUR EUR EUR EUR Operating income/(loss) 4 90,964,694 (1,603,639) (494,237) 2,287,469 2,254,512 1,365,593 1,163,536 6,552,093 Net gains/(losses) on financial assets and liabilities at fair value through profit and loss 5 219,003,499 497,062 1,412,647 13,676,757 (4,082,230) (1,173,600) 2,643,289 (980,034)

Net income/(loss) 309,968,193 (1,106,577) 918,410 15,964,226 (1,827,718) 191,993 3,806,825 5,572,059

Operating expenses 6 (79,031,718) (2,083,303) (1,021,314) (2,124,685) (863,345) (1,131,012) (2,385,034) (3,507,732)

Operating income/(loss) 230,936,475 (3,189,880) (102,904) 13,839,541 (2,691,063) (939,019) 1,421,791 2,064,327

Finance costs Distributions to Holders of Redeemable Participating Shares 22 (24,338,118) ------Interest expense (5,276,468) (711,720) (108,664) (161,114) (71,311) (74,115) (138,864) (487,104)

Profit/(loss) for the financial year before tax 201,321,889 (3,901,600) (211,568) 13,678,427 (2,762,374) (1,013,134) 1,282,927 1,577,223

Non-reclaimable withholding tax (3,455,988) - - - - (1,022) - -

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 197,865,901 (3,901,600) (211,568) 13,678,427 (2,762,374) (1,014,156) 1,282,927 1,577,223

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 48 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA EmergingANIMA ANIMAANIMA Euro ANIMA ANIMA ANIMA Asia/Pacific1 MarketsGlobal Equity Equity 2Global Selection Equity Global Currencies Europe Equity U.S. Equity Year endedEquity Year endedValueYear ended Year ended Year ended Year ended Year ended 31 DecemberYear 2020 ended 31 December31 December 2020 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 DecemberEUR 2020 EUR EUR EUR EUR Income Notes EUR EUR EUR Operating income 4 7,144,025 3,853,996 1,250,639 889,587 704,069 1,770 2,125,037 24,109 Net (losses)/gains on financial assets and liabilities at fair value through profit and loss 5 (1,494,203) 41,529,325 1,066,482 (3,755,051) 3,820,245 207,789 707,516 (160,416)

Net income/(loss) 5,649,822 45,383,321 2,317,121 (2,865,464) 4,524,314 209,559 2,832,553 (136,307)

Operating expenses 6 (3,983,679) (3,050,514) (660,544) (627,715) (641,864) (3,895) (1,667,222) (75,468)

Operating income/(loss) 1,666,143 42,332,807 1,656,577 (3,493,179) 3,882,450 205,664 1,165,331 (211,775)

Finance costs Distributions to Holders of Redeemable Participating Shares 22 ------Interest expense (75,164) (30,661) (63,417) (3,663) (23,028) - (17,342) (1,897)

Profit/(loss) for the financial year before tax 1,590,979 42,302,146 1,593,160 (3,496,842) 3,859,422 205,664 1,147,989 (213,672)

Non-reclaimable withholding tax (676,419) (1,108,844) (130,169) (184,306) (96,128) (362) (197,693) -

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 914,560 41,193,302 1,462,991 (3,681,148) 3,763,294 205,302 950,296 (213,672)

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

There are no recognised gains or losses arising in the financial year other than the increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares of the Company. In arriving at the results of the financial year, all amounts above relate to continuing operations. NM ud Plc Funds ANIMA The accompanying notes form an integral part of the Financial Statements. 49 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA Variable Rate ANIMA ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart Bond Hybrid Bond Government Bond Potential Europe ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 Notes EUR EUR EUR EUR EUR EUR EUR EUR Income Operating income/(loss) 4 199,517 3,229,313 1,801,951 8,365,228 3,023,046 13,508 (124,047) 11,604 Net gains/(losses) on financial assets and liabilities at fair value through profit and loss 5 263,447 (205,192) 4,468,209 116,402,306 (7,703,269) (617,333) 3,931,472 (221,281)

Net income/(loss) 462,964 3,024,121 6,270,160 124,767,534 (4,680,223) (603,825) 3,807,425 (209,677)

Operating expenses 6 (128,088) (646,218) (955,009) (21,963,563) (1,965,757) (92,724) (823,700) (146,788)

Operating income/(loss) 334,876 2,377,903 5,315,151 102,803,971 (6,645,980) (696,549) 2,983,725 (356,465)

Finance costs Distributions to Holders of Redeemable Participating Shares 22 ------Interest expense (3,727) (35,014) (51,684) (1,197,399) (361,051) (6,024) (84,222) (5,230)

Profit/(loss) for the financial year before tax 331,149 2,342,889 5,263,467 101,606,572 (7,007,031) (702,573) 2,899,503 (361,695)

Non-reclaimable withholding tax - - - (886,714) - - - -

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 331,149 2,342,889 5,263,467 100,719,858 (7,007,031) (702,573) 2,899,503 (361,695)

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 50 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA Smart ANIMA ANIMA Smart Smart Volatility ANIMA Credit ANIMA1 Star HighActive SelectionANIMA TradingDividends Europe Flexible Bond Volatility USA Emerging Markets Opportunities Year endedPotential Italy Year ended Fund Year ended Year ended Year ended Year ended Year ended31 December 2020Year ended31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 DecemberEUR 2020 EUR EUR EUR Income Notes EUR EUR EUR EUR Operating (loss)/income 4 (78,179) (72,717) 7,311,691 275,962 573,925 77 83,938 953,229 Net gains/(losses) on financial assets and liabilities at fair value through profit and loss 5 3,185,635 4,317,813 1,899,802 (1,192,917) 6,405,195 (1,031,745) (808,288) (1,349,930)

Net income/(loss) 3,107,456 4,245,096 9,211,493 (916,955) 6,979,120 (1,031,668) (724,350) (396,701)

Operating expenses 6 (402,682) (317,302) (1,546,058) (269,590) (847,910) (97,708) (159,950) (404,910)

Operating income/(loss) 2,704,774 3,927,794 7,665,435 (1,186,545) 6,131,210 (1,129,376) (884,300) (801,611)

Finance costs DistributionstoHoldersofRedeemableParticipatingShares22------Interest expense (23,734) (17,452) (629,160) (20,734) (47,258) (6,885) (5,893) (18,171)

Profit/(loss) for the financial year before tax 2,681,040 3,910,342 7,036,275 (1,207,279) 6,083,952 (1,136,261) (890,193) (819,782)

Non-reclaimable withholding tax - - - (35,025) (52,509) - (6,706) -

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 2,681,040 3,910,342 7,036,275 (1,242,304) 6,031,443 (1,136,261) (896,899) (819,782)

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 51 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA 1 ANIMA Infrastructure1 Solution 2022-I Solution 2022-II Solution 2022-III Solution 2023-I Solution EM Italian Bond FlexibleYear ended IncomeYear ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Income Notes Operating income 4 420,155 216,497 339,333 109,019 231,761 5,868 34,372 314,563 Net (losses)/gains on financial assets and liabilities at fair value through profit and loss 5 (344,549) 174,108 (1,329,511) (686,353) (1,610,675) (2,614,911) (1,834,449) 1,293,363

Net income/(loss) 75,606 390,605 (990,178) (577,334) (1,378,914) (2,609,043) (1,800,077) 1,607,926

Operating expenses 6 (339,110) (749,211) (104,534) (54,965) (74,794) (80,122) (66,449) (429,128)

Operating (loss)/income (263,504) (358,606) (1,094,712) (632,299) (1,453,708) (2,689,165) (1,866,526) 1,178,798

Finance costs DistributionstoHoldersofRedeemableParticipatingShares22------Interest expense (16,292) (152,358) (31,417) (15,123) (18,758) (22,129) (11,855) (5,437)

(Loss)/profit for the financial year before tax (279,796) (510,964) (1,126,129) (647,422) (1,472,466) (2,711,294) (1,878,381) 1,173,361

Non-reclaimablewithholdingtax -(28,624)------

(Decrease)/increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations (279,796) (539,588) (1,126,129) (647,422) (1,472,466) (2,711,294) (1,878,381) 1,173,361

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 52 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA Brightview Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III 2023-IV Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 Notes EUR EUR EUR EUR EUR EUR EUR EUR Income Operating income 4 312,680 574,551 1,351,424 534,566 511,458 1,234,264 580,462 886,521 Net (losses)/gains on financial assets and liabilities at fair value through profit and loss 5 (1,916,594) (118,410) (656,692) 13,148,491 (798,640) 1,284,776 (177,343) 281,673

Net (loss)/income (1,603,914) 456,141 694,732 13,683,057 (287,182) 2,519,040 403,119 1,168,194

Operating expenses 6 (225,997) (117,837) (189,364) (3,158,628) (99,779) (398,958) (125,555) (163,602)

Operating (loss)/income (1,829,911) 338,304 505,368 10,524,429 (386,961) 2,120,082 277,564 1,004,592

Finance costs Distributions to Holders of Redeemable Participating Shares 22 ------Interest expense (1,408) (6,855) (26,720) (196,087) (698) (3,582) (2,450) (2,753)

(Loss)/profit for the financial year before tax (1,831,319) 331,449 478,648 10,328,342 (387,659) 2,116,500 275,114 1,001,839

Non-reclaimable withholding tax (49,107) - - (2,360) - - - -

(Decrease)/increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations (1,880,426) 331,449 478,648 10,325,982 (387,659) 2,116,500 275,114 1,001,839

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 53 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA ANIMA Brightview ANIMA ANIMA ANIMA ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III 2024-IV Brightview 2024-V Brightview 2025-I Brightview 2027-I Brightview-II Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 Notes EUR EUR EUR EUR EUR EUR EUR EUR Income Operating income 4 1,140,737 1,363,151 1,565,101 1,589,113 1,846,660 4,239,111 2,246,571 877,862 Net gains on financial assets and liabilities at fair value through profit and loss 5 567,016 296,949 4,085,533 372,404 3,105,408 3,944,977 5,110,192 602,474

Net income 1,707,753 1,660,100 5,650,634 1,961,517 4,952,068 8,184,088 7,356,763 1,480,336

Operating expenses 6 (190,399) (249,573) (287,919) (288,138) (361,750) (672,832) (308,692) (151,512)

Operating income 1,517,354 1,410,527 5,362,715 1,673,379 4,590,318 7,511,256 7,048,071 1,328,824

Finance costs Distributions to Holders of Redeemable Participating Shares 22 (1,135,934) (941,031) (2,523,065) (3,122,248) (1,842,247) (6,235,604) (987,675) (660,123) Interest expense (4,179) (1,586) (4,982) (5,206) (4,646) (4,560) (5,152) (1,663)

Profit/(loss) for the financial year before tax 377,241 467,910 2,834,668 (1,454,075) 2,743,425 1,271,092 6,055,244 667,038

Non-reclaimablewithholdingtax ------

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 377,241 467,910 2,834,668 (1,454,075) 2,743,425 1,271,092 6,055,244 667,038

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 54 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA Orizzonte Europa 2023 ANIMA ANIMA ANIMAANIMA Orizzonte - Rendimento ANIMA ANIMA1 ANIMA BrightviewBrightview-VI1 Brightview1 VII Brightview1 VIII Europa 2022 Bilanciato Brightview-III BrightviewYear ended IV Year ended V Year ended Year ended Year ended Year ended Year ended 31 DecemberYear ended 202031 December 202031 December 202031 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020EUR EUR EUR EUR EUR EUR Income Notes EUR EUR Operating income/(loss) 4 842,480 699,303 184,006 378,324 (77,070) - 673,783 697,541 Net gains/(losses) on financial assets and liabilities at fair value through profit and loss 5 895,522 2,165,386 1,127,396 9,827,296 3,447,444 (138) (1,191,029) (1,101,755)

Net income/(loss) 1,738,002 2,864,689 1,311,402 10,205,620 3,370,374 (138) (517,246) (404,214)

Operating expenses 6 (145,239) (171,687) (61,027) (205,417) (43,140) (143) (519,262) (554,932)

Operating income/(loss) 1,592,763 2,693,002 1,250,375 10,000,203 3,327,234 (281) (1,036,508) (959,146)

Finance costs Distributions to Holders of Redeemable Participating Shares 22 ------(380,681) Interest expense (1,149) (2,285) (6,039) (31,092) - - (4,206) (5,083)

Profit/(loss) for the financial year before tax 1,591,614 2,690,717 1,244,336 9,969,111 3,327,234 (281) (1,040,714) (1,344,910)

Non-reclaimable withholding tax ------

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 1,591,614 2,690,717 1,244,336 9,969,111 3,327,234 (281) (1,040,714) (1,344,910)

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

NM ud Plc Funds ANIMA The accompanying notes form an integral part of the Financial Statements. 55 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte 1 ANIMA ANIMA Zephyr ANIMA Zephyr Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 ANIMA Defensive YearZephyr ended Global Global Allocation New Year ended Year ended Year ended Year ended Year ended31 December 2020Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 DecemberEUR 2020 31 December 2020 Income Notes EUR EUR EUR EUR EUR EUR EUR Operating income 4 3,586,135 5,723,803 402,994 1,612,368 - 113,929 144,625 51,775 Net (losses)/gains on financial assets and liabilities at fair value through profit and loss 5 (3,354,075) (3,499,861) (275,585) 3,557,911 1,846,581 192,295 775,066 1,150,352

Net income 232,060 2,223,942 127,409 5,170,279 1,846,581 306,224 919,691 1,202,127

Operating expenses 6 (3,570,918) (5,544,981) (485,204) (2,895,476) (648,932) (154,643) (215,528) (71,161)

Operating (loss)/income (3,338,858) (3,321,039) (357,795) 2,274,803 1,197,649 151,581 704,163 1,130,966

Finance costs Distributions to Holders of Redeemable Participating Shares 22 (2,433,044) (2,804,299) (270,463) (1,001,704) - - - - Interest expense (15,163) (21,949) (2,811) (14,944) (48,874) (20,528) (39,390) (16,969)

(Loss)/profit for the financial year before tax (5,787,065) (6,147,287) (631,069) 1,258,155 1,148,775 131,053 664,773 1,113,997

Non-reclaimable withholding tax ------

(Decrease)/increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations (5,787,065) (6,147,287) (631,069) 1,258,155 1,148,775 131,053 664,773 1,113,997

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 56 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2020 (continued)

ANIMA Zephyr ANIMA Real Assets International Bond Year ended Year ended 31 December 2020 31 December 2020 Notes EUR EUR Income Operating income 4 130,299 187,994 Net losses on financial assets and liabilities at fair value through profit and loss 5 (182,037) (495,919)

Net loss (51,738) (307,925)

Operating expenses 6 (101,927) (157,970)

Operating loss (153,665) (465,895)

Finance costs Distributions to Holders of Redeemable Participating Shares 22 - - Interest expense (13,411) (4,977)

Loss for the financial year before tax (167,076) (470,872)

Non-reclaimable withholding tax - -

Decrease in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations (167,076) (470,872)

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 57 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019

ANIMA ANIMA Medium Term ANIMA Bond ANIMA Global ANIMA Short Term Total Company ANIMA Liquidity Short Term Bond Bond Dollar Bond ANIMA Life Bond Corporate Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Income Operating income 4 82,310,511 (1,321,970) (3,133,336) (1,064,414) 2,554,371 858,930 (2,367,853) (553,334) Net gains on financial assets and liabilities at fair value through profit and loss 5 555,362,648 568,616 3,623,860 30,473,785 5,859,424 4,559,003 8,466,966 9,234,877

Net income/loss 637,673,159 (753,354) 490,524 29,409,371 8,413,795 5,417,933 6,099,113 8,681,543

Operating expenses 6 (68,922,808) (1,857,741) (692,230) (2,566,668) (610,808) (793,678) (2,978,029) (3,106,198)

Operating income/(loss) 568,750,351 (2,611,095) (201,706) 26,842,703 7,802,987 4,624,255 3,121,084 5,575,345

Finance costs Distributions to Holders of Redeemable Participating Shares 22 (21,018,274) ------Interest expense (4,516,049) (598,333) (32,744) (81,519) (19,869) (26,919) (107,948) (428,834)

Profit/(loss) for the financial year before tax 543,216,028 3,209,428 (234,450) 26,761,184 7,783,118 4,597,336 3,013,136 5,146,511

Non-reclaimable withholding tax (4,596,239) - - - - (1,169) - -

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 538,619,789 (3,209,428) (234,450) 26,761,184 7,783,118 4,596,167 3,013,136 5,146,511

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 58 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019 (continued)

ANIMA ANIMA ANIMA ANIMA Asia/Pacific ANIMA ANIMA Emerging ANIMA Euro ANIMA Variable Rate Europe Equity U.S. Equity Equity Global Equity Markets Equity Equity Global Currencies Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Income Operating income 4 13,158,695 3,624,525 1,676,729 1,519,653 1,007,051 4,112,879 (97,808) 298,558 Net gains on financial assets and liabilities at fair value through profit and loss 5 78,071,474 57,237,687 10,619,942 8,272,443 7,379,991 22,576,246 275,336 1,039,096

Net income 91,230,169 60,862,212 12,296,671 9,792,096 8,387,042 26,689,125 177,528 1,337,654

Operating expenses 6 (5,769,321) (2,402,728) (726,847) (836,910) (753,756) (2,105,421) (97,610) (154,281)

Operating income 85,460,848 58,459,484 11,569,824 8,955,186 7,633,286 24,583,704 79,918 1,183,373

Finance costs DistributionstoHoldersofRedeemableParticipatingShares22------Interest expense (245,509) (55,725) (47,526) (3,646) (27,095) (45,536) (3,060) (6,274)

Profit for the financial year before tax 85,215,339 58,403,759 11,522,298 8,951,540 7,606,191 24,538,168 76,858 1,177,099

Non-reclaimable withholding tax (1,189,436) (1,064,324) (153,108) (253,392) (121,359) (352,510) - -

Increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 84,025,903 57,339,435 11,369,190 8,698,148 7,484,832 24,185,658 76,858 1,177,099

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 59 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019 (continued)

Net income 6,393,845 12,591,275 38,037,332 4,273,580 2,276,860 6,424,536 3,011,729 2,253,639

Operating expenses 6 (460,508) (1,316,569) (11,043,292) (2,338,263) (104,841) (355,310) (167,568) (104,979)

Operating income 5,933,337 11,274,706 26,994,040 1,935,317 2,172,019 6,069,226 2,844,161 2,148,660

Finance costs DistributionstoHoldersofRedeemableParticipatingShares22------Interest expense (23,162) (96,593) (905,715) (217,927) (6,057) (13,229) (5,468) (3,316)

Profit for the financial year before tax 5,910,175 11,178,113 26,088,325 1,717,390 2,165,962 6,055,997 2,838,693 2,145,344

Non-reclaimable withholding tax (798) - (827,976) - ----

Increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 5,909,377 11,178,113 25,260,349 1,717,390 2,165,962 6,055,997 2,838,693 2,145,344

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 60 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019 (continued)

ANIMA ANIMA Smart Volatility ANIMA Credit TesoreriaANIMA Star High ANIMA Star High ANIMA ANIMA Smart ANIMA Emerging1 Opportunities 2 ImpresePotential Italy Potential Global Active Selection Dividends Europe Flexible Bond Year endedMarkets Year endedYear ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Income Notes Operating income 4 (971) 3,373,544 183,944 (387,478) 449,894 4,650 349,560 469,785 Net gains/(losses) on financial assets and liabilities at fair value through profit and loss 5 614,715 8,007,516 (84,583) 2,836,445 2,857,214 3,169,211 1,734,113 226,451

Net income/loss 613,744 11,381,060 99,361 2,448,967 3,307,108 3,173,861 2,083,673 696,236

Operating expenses 6 (137,330) (993,516) (62,333) (500,977) (782,864) (143,063) (197,593) (340,213)

Operating income/(loss) 476,414 10,387,544 37,028 1,947,990 2,524,244 3,030,798 1,886,080 356,023

Finance costs DistributionstoHoldersofRedeemableParticipatingShares22------Interest expense (1,221) (383,050) (15,473) (51,695) (41,094) (7,889) (4,453) (25,673)

Profit/(loss) for the financial year before tax 475,193 10,004,494 21,555 1,896,295 2,483,150 3,022,909 1,881,627 330,350

Non-reclaimable withholding tax - - - (67,102) (72,332) - (19,379) (1,275)

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 475,193 10,004,494 21,555 1,829,193 2,410,818 3,022,909 1,862,248 329,075

1 This Fund launched during the financial year ended 31 December 2019.

2 This Fund was terminated during financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. 61 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019 (continued)

Net income 864,849 2,968,200 2,475,122 3,411,928 2,865,391 3,907,610 3,361,825 1,873,460

Operating expenses 6 (321,040) (960,524) (133,182) (105,732) (92,626) (90,692) (76,586) (508,515)

Operating income 543,809 2,007,676 2,341,940 3,306,196 2,772,765 3,816,918 3,285,239 1,364,945

Finance costs DistributionstoHoldersofRedeemableParticipatingShares22------Interest expense (24,032) (98,198) (47,846) (19,870) (18,477) (33,700) (12,883) (9,727)

Profit for the financial year before tax 519,777 1,909,478 2,294,094 3,286,326 2,754,288 3,783,218 3,272,356 1,355,218

Non-reclaimablewithholdingtax -(311,615)------

Increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 519,777 1,597,863 2,294,094 3,286,326 2,754,288 3,783,218 3,272,356 1,355,218

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 62 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019 (continued)

ANIMA ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA Brightview Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III 2023-IV Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Income Operating income 4 698,675 518,777 67,994 574,884 803,842 2,846,567 1,273,085 1,288,335 Net gains on financial assets and liabilities at fair value through profit and loss 5 5,414,174 900,725 2,223,632 9,325,816 144,375 10,988,475 5,156,930 4,569,486

Net income 6,112,849 1,419,502 2,291,626 9,900,700 948,217 13,835,042 6,430,015 5,857,821

Operating expenses 6 (292,590) (105,547) (195,989) (911,656) (109,381) (459,009) (153,242) (171,890)

Operating income 5,820,259 1,313,955 2,095,637 8,989,044 838,836 13,376,033 6,276,773 5,685,931

Finance costs Distributions to Holders of Redeemable Participating Shares 22 - - - - (329,348) (1,678,183) (576,201) (633,500) Interest expense (6,799) (3,072) (40,769) (102,514) (548) (2,997) (1,628) (1,710)

Profit for the financial year before tax 5,813,460 1,310,883 2,054,868 8,886,530 508,940 11,694,853 5,698,944 5,050,721

Non-reclaimable withholding tax (107,081) - - (6,378) (47,005) - - -

Increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 5,706,379 1,310,883 2,054,868 8,880,152 461,935 11,694,853 5,698,944 5,050,721

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 63 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Brightview 1 BrightviewANIMA1 2027-I Brightview-II1 ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III 2024-IVYear endedBrightviewYear ended2024-V YearBrightview ended 2025-I Year ended Year ended Year ended 31Year December ended 201931 DecemberYear ended 201931 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR31 DecemberEUR 2019 EUR Income Notes EUR EUR EUR EUR EUR Operating income 4 1,528,074 1,815,527 2,718,260 3,062,767 1,982,877 931,111 1,617,333 (23,133) Net gains on financial assets and liabilities at fair value through profit and loss 5 7,959,808 7,818,060 10,494,814 9,240,046 19,752,273 13,337,505 15,374,332 865

Net income/loss 9,487,882 9,633,587 13,213,074 12,302,813 21,735,150 14,268,616 16,991,665 (22,268)

Operating expenses 6 (201,574) (263,790) (324,802) (351,962) (443,464) (252,350) (289,250) (22,835)

Operating income/(loss) 9,286,308 9,369,797 12,888,272 11,950,851 21,291,686 14,016,266 16,702,415 (45,103)

Finance costs Distributions to Holders of Redeemable Participating Shares 22 (1,203,725) (994,590) (3,008,887) (4,084,021) ---- Interest expense (1,815) (1,496) (1,640) (18,301) (23,213) (162,666) (72,509) (2,791)

Profit/(loss) for the financial year before tax 8,080,768 8,373,711 9,877,745 7,848,529 21,268,473 13,853,600 16,629,906 (47,894)

Non-reclaimablewithholdingtax ------

Increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 8,080,768 8,373,711 9,877,745 7,848,529 21,268,473 13,853,600 16,629,906 (47,894)

1 This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 64 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019 (continued)

ANIMA Orizzonte Europa 2023 ANIMAANIMA Orizzonte - Rendimento ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte 1 ANIMA Brightview1 IV Europa 2022 Bilanciato Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 YearBrightview-III ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 201931 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Income Notes Operating income 4 (22,792) (182) 707,649 980,283 3,322,188 5,512,373 492,327 1,982,809 Net gains on financial assets and liabilities at fair value through profit and loss 5 1,627 12 1,639,322 2,221,298 25,184,539 30,672,030 2,943,722 13,923,066

Net loss/income (21,165) (170) 2,346,971 3,201,581 28,506,727 36,184,403 3,436,049 15,905,875

Operating expenses 6 (22,463) (68) (542,364) (584,049) (3,708,127) (6,170,292) (940,213) (4,369,725)

Operating (loss)/income (43,628) (238) 1,804,607 2,617,532 24,798,600 30,014,111 2,495,836 11,536,150

Finance costs Distributions to Holders of Redeemable Participating Shares 22 - - (570,408) (400,024) (2,519,331) (3,021,029) (329,260) (1,669,767) Interest expense (2,631) - (4,978) (5,780) (7,157) (8,027) (5,962) (8,580)

(Loss)/profit for the financial year before tax (46,259) (238) 1,229,221 2,211,728 22,272,112 26,985,055 2,160,614 9,857,803

Non-reclaimablewithholdingtax ------

(Decrease)/increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations (46,259) (238) 1,229,221 2,211,728 22,272,112 26,985,055 2,160,614 9,857,803

1 This Fund launched during the financial year ended 31 December 2019.

There are no recognised gains or losses arising in the financial year other than the increase/(decrease) in Net Assets Attributable to Holders of Redeemable Participating Shares of the Company. In arriving at the results of the financial year, all amounts above relate to continuing operations. NM ud Plc Funds ANIMA The accompanying notes form an integral part of the Financial Statements. 65 ANIMA Funds Plc Statement of Comprehensive Income for the financial year ended 31 December 2019 (continued)

ANIMA Zephyr ANIMA ANIMA1 ANIMAReal Zephyr Assets International Bond ANIMA Defensive ZephyrYear Global ended Global AllocationYear ended Year ended Year ended 31 DecemberYear ended 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019EUR EUR EUR Income Notes EUR EUR Operating income 4 9,249 (80,783) (10,014) 91,578 241,899 Net gains on financial assets and liabilities at fair value through profit and loss 5 1,813,189 5,364,057 1,657,738 1,373,321 1,133,881

Net income 1,822,438 5,283,274 1,647,724 1,464,899 1,375,780

Operating expenses 6 (668,966) (168,176) (123,017) (117,414) (168,261)

Operating income 1,153,472 5,115,098 1,524,707 1,347,485 1,207,519

Finance costs Distributions to Holders of Redeemable Participating Shares 22 - - - - - Interest expense (100,665) (36,320) (63,055) (18,971) (12,170)

Profit for the financial year before tax 1,052,807 5,078,778 1,461,652 1,328,514 1,195,349

Non-reclaimable withholding tax - - - - -

Increase in Net Assets Attributable to Holders of Redeemable Participating Shares resulting from operations 1,052,807 5,078,778 1,461,652 1,328,514 1,195,349

1This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 66

ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

ANIMA EmergingANIMA ANIMA ANIMA ANIMA ANIMA1 MarketsGlobal Equity Equity Global2 ANIMA Selection Euro Equity Global Currencies Europe Equity ANIMA U.S. Equity Asia/PacificAs atEquity As atValueAs at As at As at As at As at31 December 2020As at31 December31 December 2020 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 DecemberEUR 2020 EUR EUR EUR EUR Assets Notes EUR EUR EUR Cash and cash equivalents 7 3,753,185 3,503,652 4,915,452 1,208,846 6,556,205 1,118,016 345,476 346,534 Due from broker 8 - 540,000 255,473 10,000 88,207 - - - Debtors 9 2,644,276 677,369 58,356 532,211 173,084 911 552,433 39,524 Financial assets at fair value through profit and loss 2 334,348,529 347,667,092 57,765,135 30,346,220 40,470,906 10,084,062 109,350,939 4,515,591

Total Assets 340,745,990 352,388,113 62,994,416 32,097,277 47,288,402 11,202,989 110,248,848 4,901,649

Liabilities Creditors 10 (2,846,209) (2,530,487) (590,522) (228,902) (215,276) (995,227) (444,780) (23,540) Financial liabilities at fair value through profit and loss 2 (471,299) (1,680,165) (5,676) (578,500) (10,472) (460) (52,370) (11,853)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (3,317,508) (4,210,652) (596,198) (807,402) (225,748) (995,687) (497,150) (35,393)

Net Assets Attributable to Holders of Redeemable Participating Shares 337,428,482 348,177,461 62,398,218 31,289,875 47,062,654 10,207,302 109,751,698 4,866,256

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 68 ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

Total Assets 23,708,882 101,436,453 165,058,020 888,541,854 264,487,850 12,047,057 154,287,967 13,876,160

Liabilities Creditors 10 (41,737) (374,026) (2,905,294) (9,646,003) (324,674) (21,657) (309,549) (19,034) Financial liabilities at fair value through profit and loss 2 - (22,553) (90,291) (5,152,548) (94,500) (13,864) (12,379) -

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (41,737) (396,579) (2,995,585) (14,798,551) (419,174) (35,521) (321,928) (19,034)

Net Assets Attributable to Holders of Redeemable Participating Shares 23,667,145 101,039,874 162,062,435 873,743,303 264,068,676 12,011,536 153,966,039 13,857,126

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 69 ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

ANIMA ANIMA ANIMA Smart ANIMA ANIMA Smart Smart Volatility ANIMA Credit ANIMA1 StarActive High SelectionANIMA TradingDividends Europe Flexible Bond Volatility USA Emerging Markets Opportunities AsPotential at Italy As at Fund As at As at As at As at 31As December at 2020 31As December at 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31EUR December 2020 EUR EUR EUR Assets Notes EUR EUR EUR EUR Cash and cash equivalents 7 3,888,681 8,765,482 48,629,345 1,596,331 17,757,898 398,222 857,582 6,708,467 Due from broker 8 1,921,748 4,364,981 - 228,648 - - - 195,354 Debtors 9 2,453,513 308,588 3,351,172 52,338 4,803,505 - 21,664 347,556 Financial assets at fair value through profit and loss 2 69,902,905 93,540,270 320,579,315 16,048,811 76,051,525 18,904,248 12,233,008 36,078,103

Total Assets 78,166,847 106,979,321 372,559,832 17,926,128 98,612,928 19,302,470 13,112,254 43,329,480

Liabilities Creditors 10 (196,511) (2,480,850) (204,087) (60,857) (521,255) (113,801) (16,411) (34,397) Financial liabilities at fair value through profit and loss 2 - - (29,471) - (305,776) - - (213,180)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (196,511) (2,480,850) (233,558) (60,857) (827,031) (113,801) (16,411) (247,577)

Net Assets Attributable to Holders of Redeemable Participating Shares 77,970,336 104,498,471 372,326,274 17,865,271 97,785,897 19,188,669 13,095,843 43,081,903

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 70 ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA 1 ANIMA Infrastructure1 Solution 2022-I Solution 2022-II Solution 2022-III Solution 2023-I Solution EM Italian Bond FlexibleAs at Income As at As at As at As at As at As at As at 31 December 202031 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Assets Notes Cash and cash equivalents 7 15,967 41,885 497,630 1,149,427 1,337,335 1,707,317 1,001,826 649,588 Duefrombroker 8------68,951 Debtors 9 11,988 - 247,595 106,131 133,560 - - 142,152 Financial assets at fair value through profit and loss 2 - - 31,053,361 14,142,435 21,402,812 35,908,395 30,272,494 31,708,205

Total Assets 27,955 41,885 31,798,586 15,397,993 22,873,707 37,615,712 31,274,320 32,568,896

Liabilities Creditors 10 (27,955) (41,885) (81,664) (15,040) (231,684) (12,329) (9,248) (38,098) Financial liabilities at fair value through profit and loss 2 ------(9,118)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (27,955) (41,885) (81,664) (15,040) (231,684) (12,329) (9,248) (47,216)

Net Assets Attributable to Holders of Redeemable Participating Shares - - 31,716,922 15,382,953 22,642,023 37,603,383 31,265,072 32,521,680

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 71 ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA ANIMA Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV As at As at As at As at As at As at As at As at 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 Notes EUR EUR EUR EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 325,379 2,536,092 2,080,362 21,178,190 68,395 243,214 566,828 263,534 Due from broker 8 - - - 5,150,058 ---- Debtors 9 133,924 223,263 767,871 6,483,124 48,091 1,152,418 123,195 474,067 Financial assets at fair value through profit and loss 2 15,549,152 17,350,628 45,695,307 183,121,774 29,321,032 134,616,077 43,265,881 60,842,278

Total Assets 16,008,455 20,109,983 48,543,540 215,933,146 29,437,518 136,011,709 43,955,904 61,579,879

Liabilities Creditors 10 (246,149) (16,848) (33,562) (919,416) (93,397) (761,301) (147,705) (286,903) Financial liabilities at fair value through profit and loss 2 - (2,676) (15,879) (1,716,768) (1,973,939) (12,532,948) (5,048,809) (8,453,582)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (246,149) (19,524) (49,441) (2,636,184) (2,067,336) (13,294,249) (5,196,514) (8,740,485)

Net Assets Attributable to Holders of Redeemable Participating Shares 15,762,306 20,090,459 48,494,099 213,296,962 27,370,182 122,717,460 38,759,390 52,839,394

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 72 ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

Total Assets 81,516,982 103,624,829 113,453,267 115,335,937 143,078,977 291,317,767 124,621,008 79,476,018

Liabilities Creditors 10 (231,597) (259,997) (479,827) (284,666) (376,822) (589,948) (170,309) (33,266) Financial liabilities at fair value through profit and loss 2 (12,260,232) (15,795,468) (15,403,953) (14,914,607) (18,691,096) (47,167,059) (20,450,601) (15,274,690)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (12,491,829) (16,055,465) (15,883,780) (15,199,273) (19,067,918) (47,757,007) (20,620,910) (15,307,956)

Net Assets Attributable to Holders of Redeemable Participating Shares 69,025,153 87,569,364 97,569,487 100,136,664 124,011,059 243,560,760 104,000,098 64,168,062

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 73 ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

ANIMA Orizzonte Europa 2023 ANIMA ANIMA ANIMAANIMA Orizzonte - Rendimento ANIMA ANIMA1 ANIMABrightview-VI Brightview1 Brightview1 VII Brightview1 VIII Europa 2022 Bilanciato Brightview-III BrightviewAs IV at As at V As at As at As at As at As at 31 DecemberAs 2020 at31 December 202031 December 202031 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020EUR EUR EUR EUR EUR EUR Assets Notes EUR EUR Cash and cash equivalents 7 185,499 304,212 148,535 931,064 4,693,026 19,311 434,056 657,132 Duefrombroker 8------Debtors 9 374,237 280,925 99,154 653,532 1,159 31 881,395 964,982 Financial assets at fair value through profit and loss 2 76,464,866 94,238,742 45,702,859 246,719,092 92,166,658 230,388 35,303,541 39,814,298

Total Assets 77,024,602 94,823,879 45,950,548 248,303,688 96,860,843 249,730 36,618,992 41,436,412

Liabilities Creditors 10 (31,733) (38,005) (20,924) (234,537) (37,850) - (312,305) (179,662) Financial liabilities at fair value through profit and loss 2 (14,625,751) (16,863,315) (7,897,948) (39,911,158) (1) (11) (4,467,452) (6,248,139)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (14,657,484) (16,901,320) (7,918,872) (40,145,695) (37,851) (11) (4,779,757) (6,427,801)

Net Assets Attributable to Holders of Redeemable Participating Shares 62,367,118 77,922,559 38,031,676 208,157,993 96,822,992 249,719 31,839,235 35,008,611

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 74 ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte 1 ANIMA ANIMA Zephyr ANIMA Zephyr Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 ANIMA Defensive AsZephyr at Global Global Allocation New As at As at As at As at As31 Decemberat 2020 As at As at 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 DecemberEUR 2020 31 December 2020 Assets Notes EUR EUR EUR EUR EUR EUR EUR Cash and cash equivalents 7 4,055,089 5,217,142 329,961 741,522 3,101,273 5,020,700 3,182,234 1,299,751 Due from broker 8 ------19,956 39,061 Debtors 9 6,521,777 8,538,798 908,688 4,017,076 - 576,900 577,463 260,947 Financial assets at fair value through profit and loss 2 243,933,598 313,753,047 25,967,431 89,126,736 48,883,034 38,205,428 53,748,400 19,923,445

Total Assets 254,510,464 327,508,987 27,206,080 93,885,334 51,984,307 43,803,028 57,528,053 21,523,204

Liabilities Creditors 10 (852,850) (1,311,072) (358,645) (2,093,913) (798,309) (84,453) (73,625) (65,940) Financial liabilities at fair value through profit and loss 2 (35,781,180) (54,013,522) (4,468,605) (13,179,705) - - (2,373) -

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (36,634,030) (55,324,594) (4,827,250) (15,273,618) (798,309) (84,453) (75,998) (65,940)

Net Assets Attributable to Holders of Redeemable Participating Shares 217,876,434 272,184,393 22,378,830 78,611,716 51,185,998 43,718,575 57,452,055 21,457,264

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 75 ANIMA Funds Plc Statement of Financial Position as at 31 December 2020 (continued)

ANIMA Zephyr ANIMA Real Assets International Bond As at As at 31 December 2020 31 December 2020 Notes EUR EUR Assets Cash and cash equivalents 7 1,084,135 3,244,662 Due from broker 8 51,644 77,121 Debtors 9 238,533 153,887 Financial assets at fair value through profit and loss 2 24,019,687 28,394,432

Total Assets 25,393,999 31,870,102

Liabilities Creditors 10 (12,169) (33,630) Financial liabilities at fair value through profit and loss 2 (6,412) (56,144)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (18,581) (89,774)

Net Assets Attributable to Holders of Redeemable Participating Shares 25,375,418 31,780,328

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 76 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019

ANIMA ANIMA ANIMA Global ANIMA Short Term Total Company ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar Bond ANIMA Life Bond Corporate Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 516,026,605 35,517,287 3,910,367 9,179,188 9,666,403 5,399,920 11,373,084 70,362,475 Due from broker 8 18,772,190 ------330,000 Debtors 9 90,988,612 5,030,753 1,701,426 4,812,952 901,999 1,555,692 1,358,211 6,598,538 Reverse repurchase agreements ------Financial assets at fair value through profit and loss 2 7,498,466,736 376,549,467 142,435,661 385,844,091 161,911,693 163,638,023 232,190,512 332,384,142

Total Assets 8,124,254,143 417,097,507 148,047,454 399,836,231 172,480,095 170,593,635 244,921,807 409,675,155

Liabilities Creditors 10 (36,300,201) (4,950,678) (844,431) (1,207,446) (607,536) (311,614) (456,857) (681,176) Bank overdraft (4,725) ------Financial liabilities at fair value through profit and loss 2 (387,199,319) ------(664,304)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (423,504,245) (4,950,678) (844,431) (1,207,446) (607,536) (311,614) (456,857) (1,345,480)

Net Assets Attributable to Holders of Redeemable Participating Shares 7,700,749,898 412,146,829 147,203,023 398,628,785 171,872,559 170,282,021 244,464,950 408,329,675

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 77 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019 (continued)

ANIMA ANIMA ANIMA ANIMA Emerging ANIMA ANIMA Europe Equity ANIMA U.S. Equity Asia/Pacific Equity Global Equity Markets Equity ANIMA Euro Equity Global Currencies Variable Rate Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 7,206,528 12,842,381 8,074,838 1,288,034 4,587,183 937,091 1,784,820 408,870 Due from broker 8 1,055,615 688,727 344,606 - 368,522 784 - 19,790 Debtors 9 2,737,937 1,181,112 94,105 105,558 82,813 459,521 39,806 47,425 Reverse repurchase agreements ------Financial assets at fair value through profit and loss 2 347,637,273 249,976,972 50,981,103 44,949,689 39,854,933 97,005,774 5,314,107 26,333,923

Total Assets 358,637,353 264,689,192 59,494,652 46,343,281 44,893,451 98,403,170 7,138,733 26,810,008

Liabilities Creditors 10 (1,910,496) (1,028,865) (275,138) (183,545) (294,585) (221,793) (30,711) (105,906) Financial liabilities at fair value through profit and loss 2 (1,736,536) (525,769) (96,779) (323,846) (3,759) (40,236) (77,225) (1,400)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (3,647,032) (1,554,634) (371,917) (507,391) (298,344) (262,029) (107,936) (107,306)

Net Assets Attributable to Holders of Redeemable Participating Shares 354,990,321 263,134,558 59,122,735 45,835,890 44,595,107 98,141,141 7,030,797 26,702,702

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 78 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019 (continued)

ANIMA ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Hybrid Bond Government Bond Potential Europe ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 2,935,560 6,088,097 120,814,052 21,917,437 1,000,607 10,417,428 685,280 2,442,393 Due from broker 8 - 550,015 4,108,528 277,536 646,214 3,228,130 559,158 1,424,442 Debtors 9 1,387,695 2,528,355 4,949,878 3,313,157 44,012 390,451 50,353 56,536 Reverse repurchase agreements ------Financial assets at fair value through profit and loss 2 82,994,066 236,182,886 535,467,062 236,774,963 13,294,441 104,369,965 15,776,463 41,665,848

Total Assets 87,317,321 245,349,353 665,339,520 262,283,093 14,985,274 118,405,974 17,071,254 45,589,219

Liabilities Creditors 10 (106,412) (533,662) (4,402,669) (723,065) (36,602) (102,522) (67,315) (42,622) Bank overdraft - - - (4,725) ---- Financial liabilities at fair value through profit and loss 2 (189,909) (189,764) (3,210,737) (3,496,582) (23,040) (30,180) (82,620) -

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (296,321) (723,426) (7,613,406) (4,224,372) (59,642) (132,702) (149,935) (42,622)

Net Assets Attributable to Holders of Redeemable Participating Shares 87,021,000 244,625,927 657,726,114 258,058,721 14,925,632 118,273,272 16,921,319 45,546,597

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 79 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019 (continued)

ANIMA ANIMA Credit ANIMAANIMA Star High ANIMA Star High ANIMA ANIMA Smart ANIMA Smart1 Volatility Opportunities Tesoreria2 ImpresePotential Italy Potential Global Active Selection Dividends Europe Flexible Bond EmergingAs atMarkets As at As at As at As at As at As at As at 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Assets Notes Cash and cash equivalents 7 961,736 54,719,657 7,694 2,478,356 9,190,144 1,209,867 856,624 5,457,073 Due from broker 8 528,491 260,000 5 497,201 9,333 - - 473,270 Debtors 9 128,081 2,883,290 462 107,519 186,980 - 33,171 462,836 Reverse repurchase agreements ------Financial assets at fair value through profit and loss 2 13,190,177 254,621,997 - 30,388,525 39,412,833 21,790,753 15,077,196 66,288,845

Total Assets 14,808,485 312,484,944 8,161 33,471,601 48,799,290 23,000,620 15,966,991 72,682,024

Liabilities Creditors 10 (815,853) (220,500) (8,161) (139,155) (174,114) (116,635) (111,155) (156,211) Financial liabilities at fair value through profit and loss 2 - (474,445) - (1,061) (156,832) - - (694,671)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (815,853) (694,945) (8,161) (140,216) (330,946) (116,635) (111,155) (850,882)

Net Assets Attributable to Holders of Redeemable Participating Shares 13,992,632 311,789,999 - 33,331,385 48,468,344 22,883,985 15,855,836 71,831,142

This Fund launched during the financial year ended 31 December 2019. 1 This Fund was terminated during the financial year ended 31 December 2019. 2

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 80 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Flexible Income Infrastructure Solution 2022-I Solution 2022-II Solution 2022-III Solution 2023-I Solution EM Italian Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 3,899,305 16,855,538 3,026,869 1,018,036 1,920,834 3,373,462 2,207,684 887,520 Due from broker 8 49,234 1,178,757 - - - - - 65,657 Debtors 9 244,375 332,882 244,544 120,265 146,760 - - 152,854 Reverse repurchase agreements ------Financial assets at fair value through profit and loss 2 32,043,290 91,114,785 38,028,296 21,066,389 27,332,153 40,638,371 33,618,055 33,226,571

Total Assets 36,236,204 109,481,962 41,299,709 22,204,690 29,399,747 44,011,833 35,825,739 34,332,602

Liabilities Creditors 10 (238,017) (2,355,292) (2,416,040) (207,200) (415,821) (107,230) (56,689) (93,832) Financial liabilities at fair value through profit and loss 2 (223,498) (624,747) - - - - - (6,927)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (461,515) (2,980,039) (2,416,040) (207,200) (415,821) (107,230) (56,689) (100,759)

Net Assets Attributable to Holders of Redeemable Participating Shares 35,774,689 106,501,923 38,883,669 21,997,490 28,983,926 43,904,603 35,769,050 34,231,843

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 81 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019 (continued)

ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA ANIMA Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 791,536 589,179 6,431,769 8,907,040 12,068 376,856 173,985 219,127 Due from broker 8 - - - 1,858,357 ---- Debtors 9 51,363 159,761 617,206 5,196,873 165,935 1,280,556 564,854 358,449 Reverse repurchase agreements ------Financial assets at fair value through profit and loss 2 21,228,240 12,123,447 41,080,977 124,894,329 34,679,109 171,931,923 59,676,424 69,705,085

Total Assets 22,071,139 12,872,387 48,129,952 140,856,599 34,857,112 173,589,335 60,415,263 70,282,661

Liabilities Creditors 10 (779,058) (24,742) (50,618) (187,182) (201,895) (610,284) (435,692) (74,327) Financial liabilities at fair value through profit and loss 2 - (36,217) (63,883) (477,430) (4,435,480) (18,240,862) (7,783,039) (9,617,378)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (779,058) (60,959) (114,501) (664,612) (4,637,375) (18,851,146) (8,218,731) (9,691,705)

Net Assets Attributable to Holders of Redeemable Participating Shares 21,292,081 12,811,428 48,015,451 140,191,987 30,219,737 154,738,189 52,196,532 60,590,956

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 82 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA

Brightview 2024-IBrightview 2024-IIBrightview 2024-IIIBrightview 2024-IVBrightview 2024-VBrightview 2025-I1 Brightview 2027-I1 Brightview-II1 As at As at As at As at As at As at As at As at 31 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 1,293,989 162,835 381,424 632,605 313,609 142,205 666,620 209,843 Duefrombroker 8------Debtors 9 405,875 865,314 1,232,683 1,136,403 1,221,913 1,280,736 1,080,865 1,723,588 Reverse repurchase agreements ------Financial assets at fair value through profit and loss 2 85,805,498 109,812,210 130,524,730 134,941,45670,226 191,491,429 310,735,860 165,862,989 63,7

Total Assets 87,505,362 110,840,359 132,138,837 136,710,464 193,026,951 312,158,801 167,610,474 65,703,657

Liabilities Creditors 10 (143,416) (249,940) (739,052) (833,496) (858,646) (243,471) (720,397) (18,941) Financial liabilities at fair value through profit and loss 2 (12,896,972) (17,104,533) (19,037,826) (18,490,057),841,342) (27,376,038) (1,602) (50,823,129) (30

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (13,040,388) (17,354,473) (19,776,878) (19,323,553) (28,234,684) (51,066,600) (31,561,739) (20,543)

Net Assets Attributable to Holders of Redeemable Participating Shares 74,464,974 93,485,886 112,361,959 117,386,911 164,792,267 261,092,201 136,048,735 65,683,114

1 This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 83 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019 (continued)

ANIMA Orizzonte Europa 2023 ANIMA ANIMA ANIMA Orizzonte - RendimentoANIMA OrizzonteANIMA OrizzonteANIMA OrizzonteANIMA Orizzonte

Brightview-III1 Brightview1 IV Europa 2022 Bilanciato Sostenibile 2023Benessere 2023 Consumi 2023 Energia 2023 As at As at As at As at As at As at As at As at 31 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 2019 Notes EUR EUR EUR EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 209,003 15,033 760,860 796,925 1,996,804 3,626,144 688,038 2,746,917 Duefrombroker 8------Debtors 9 1,654,865 4,647 930,094 1,133,009 8,342,283 10,394,826 972,116 4,103,250 Reverse repurchase agreements ------Financial assets at fair value through profit and loss 2 61,120,192 230,619 39,666,650 44,063,104 271,245,776 359,002,744 32,573,865 138,751,498

Total Assets 62,984,060 250,299 41,357,604 45,993,038 281,584,863 373,023,714 34,234,019 145,601,665

Liabilities Creditors 10 (18,571) (64) (97,077) (74,081) (532,968) (1,365,531) (231,759) (1,527,531) Financial liabilities at fair value through profit and loss 2 (1,627) (473) (5,883,964) (7,558,338)0,075) (45,954,898) (67,057,588) (6,397,061) (24,16

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (20,198) (537) (5,981,041) (7,632,419) (46,487,866) (68,423,119) (6,628,820) (25,687,606)

Net Assets Attributable to Holders of Redeemable Participating Shares 62,963,862 249,762 35,376,563 38,360,619 235,096,997 304,600,595 27,605,199 119,914,059

1 This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 84 ANIMA Funds Plc Statement of Financial Position as at 31 December 2019 (continued)

ANIMA ANIMA Zephyr ANIMA Zephyr ANIMA ANIMA Defensive Zephyr GlobalGlobal Allocation Real AssetsInternational Bond As at As at As at As at As at 31 December 201931 December 201931 December 201931 December 201931 December 2019 Notes EUR EUR EUR EUR EUR Assets Cash and cash equivalents 7 9,559,132 5,742,548 7,886,118 3,317,163 467,508 Due from broker 8 - - 162,667 53,278 33,873 Debtors 9 68,526 614,169 590,048 245,828 120,273 Reverse repurchase agreements - - - - - Financial assets at fair value through profit and loss 2 70,908,222 39,940,578 51,930,888 23,838,605 17,114,128

Total Assets 80,535,880 46,297,295 60,569,721 27,454,874 17,735,782

Liabilities Creditors 10 (345,715) (69,871) (109,586) (60,567) (38,172) Financial liabilities at fair value through profit and loss 2 - (33) (65,976) (11,221) (7,410)

Total Liabilities (excluding Net Assets Attributable to Holders of Redeemable Participating Shares) (345,715) (69,904) (175,562) (71,788) (45,582)

Net Assets Attributable to Holders of Redeemable Participating Shares 80,190,165 46,227,391 60,394,159 27,383,086 17,690,200

1 This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 85 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 7,700,749,898 412,146,829 147,203,023 398,628,785 171,872,559 170,282,021 244,464,950 408,329,675

Increase/(decrease) in Net Assets resulting from operations 197,865,901 (3,901,600) (211,568) 13,678,427 (2,762,374) (1,014,156) 1,282,927 1,577,223

Issue of Redeemable Participating Shares 3,398,251,839 601,713,978 252,056,012 173,413,086 242,258,154 69,918,139 - 93,848,576

Redemption of Redeemable Participating Shares (2,846,159,169) (347,810,135) (70,576,757) (165,594,902) (146,808,987) (83,011,668) (245,747,877) (98,652,357)

Increase/(decrease) in Net Assets resulting from Share transactions 552,092,670 253,903,843 181,479,255 7,818,184 95,449,167 (13,093,529) (245,747,877) (4,803,781)

Net increase/(decrease) in Shareholders’ funds 749,958,571 250,002,243 181,267,687 21,496,611 92,686,793 (14,107,685) (244,464,950) (3,226,558)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 8,450,708,469 662,149,072 328,470,710 420,125,396 264,559,352 156,174,336 - 405,103,117

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 86 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA Global Equity Europe Equity ANIMA U.S. Equity Asia/Pacific Equity ANIMAValue Emerging ANIMAANIMA Euro ANIMA Year ended Year ended Year ended1 Markets Equity 2Global Selection Equity Global Currencies 31 December 2020 31 December 2020 31 DecemberYear 2020 ended Year endedYear ended Year ended Year ended EUR EUR 31 DecemberEUR 2020 31 December31 December 2020 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 354,990,321 263,134,558 59,122,735 45,835,890 44,595,107 - 98,141,141 7,030,797

Increase/(decrease) in Net Assets resulting from operations 914,560 41,193,302 1,462,991 (3,681,148) 3,763,294 205,302 950,296 (213,672)

Issue of Redeemable Participating Shares 161,313,999 195,845,364 16,576,314 14,727,823 11,555,958 10,002,000 54,978,729 2,286

Redemption of Redeemable Participating Shares (179,790,398) (151,995,763) (14,763,822) (25,592,690) (12,851,705) - (44,318,468) (1,953,155)

(Decrease)/increase in Net Assets resulting from Share transactions (18,476,399) 43,849,601 1,812,492 (10,864,867) (1,295,747) 10,002,000 10,660,261 (1,950,869)

Net (decrease)/increase in Shareholders’ funds (17,561,839) 85,042,903 3,275,483 (14,546,015) 2,467,547 10,207,302 11,610,557 (2,164,541)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 337,428,482 348,177,461 62,398,218 31,289,875 47,062,654 10,207,302 109,751,698 4,866,256

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 87 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 26,702,702 87,021,000 244,625,927 657,726,114 258,058,721 14,925,632 118,273,272 16,921,319

Increase/(decrease) in Net Assets resulting from operations 331,149 2,342,889 5,263,467 100,719,858 (7,007,031) (702,573) 2,899,503 (361,695)

Issue of Redeemable Participating Shares 2,578,376 32,431,150 54,597,746 444,873,955 118,555,690 806,610 50,526,411 -

Redemption of Redeemable Participating Shares (5,945,082) (20,755,165) (142,424,705) (329,576,624) (105,538,704) (3,018,133) (17,733,147) (2,702,498)

(Decrease)/increase in Net Assets resulting from Share transactions (3,366,706) 11,675,985 (87,826,959) 115,297,331 13,016,986 (2,211,523) 32,793,264 (2,702,498)

Net (decrease)/increase in Shareholders’ funds (3,035,557) 14,018,874 (82,563,492) 216,017,189 6,009,955 (2,914,096) 35,692,767 (3,064,193)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 23,667,145 101,039,874 162,062,435 873,743,303 264,068,676 12,011,536 153,966,039 13,857,126

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 88 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 45,546,597 13,992,632 311,789,999 33,331,385 48,468,344 22,883,985 15,855,836 71,831,142

Increase/(decrease) in Net Assets resulting from operations 2,681,040 3,910,342 7,036,275 (1,242,304) 6,031,443 (1,136,261) (896,899) (819,782)

Issue of Redeemable Participating Shares 36,289,439 89,711,768 53,500,000 1,609,921 62,816,724 - 4,022,000 11,230,529

Redemption of Redeemable Participating Shares (6,546,740) (3,116,271) - (15,833,731) (19,530,614) (2,559,055) (5,885,094) (39,159,986)

Increase/(decrease) in Net Assets resulting from Share transactions 29,742,699 86,595,497 53,500,000 (14,223,810) 43,286,110 (2,559,055) (1,863,094) (27,929,457)

Net increase/(decrease) in Shareholders’ funds 32,423,739 90,505,839 60,536,275 (15,466,114) 49,317,553 (3,695,316) (2,759,993) (28,749,239)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 77,970,336 104,498,471 372,326,274 17,865,271 97,785,897 19,188,669 13,095,843 43,081,903

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 89 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 35,774,689 106,501,923 38,883,669 21,997,490 28,983,926 43,904,603 35,769,050 34,231,843

(Decrease)/increase in Net Assets resulting from operations (279,796) (539,588) (1,126,129) (647,422) (1,472,466) (2,711,294) (1,878,381) 1,173,361

Issue of Redeemable Participating Shares 1,233,176 2,431,700 - - - - - 652,250

Redemption of Redeemable Participating Shares (36,728,069) (108,394,035) (6,040,618) (5,967,115) (4,869,437) (3,589,926) (2,625,597) (3,535,774)

Decrease in Net Assets resulting from Share transactions (35,494,893) (105,962,335) (6,040,618) (5,967,115) (4,869,437) (3,589,926) (2,625,597) (2,883,524)

Net decrease in Shareholders’ funds (35,774,689) (106,501,923) (7,166,747) (6,614,537) (6,341,903) (6,301,220) (4,503,978) (1,710,163)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year - - 31,716,922 15,382,953 22,642,023 37,603,383 31,265,072 32,521,680

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 90 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 21,292,081 12,811,428 48,015,451 140,191,987 30,219,737 154,738,189 52,196,532 60,590,956

(Decrease)/increase in Net Assets resulting from operations (1,880,426) 331,449 478,648 10,325,982 (387,659) 2,116,500 275,114 1,001,839

Issue of Redeemable Participating Shares 2,857,420 11,698,948 - 116,167,917 - - - -

Redemption of Redeemable Participating Shares (6,506,769) (4,751,366) - (53,388,924) (2,461,896) (34,137,229) (13,712,256) (8,753,401)

(Decrease)/increase in Net Assets resulting from Share transactions (3,649,349) 6,947,582 - 62,778,993 (2,461,896) (34,137,229) (13,712,256) (8,753,401)

Net (decrease)/increase in Shareholders’ funds (5,529,775) 7,279,031 478,648 73,104,975 (2,849,555) (32,020,729) (13,437,142) (7,751,562)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 15,762,306 20,090,459 48,494,099 213,296,962 27,370,182 122,717,460 38,759,390 52,839,394

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 91 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 74,464,974 93,485,886 112,361,959 117,386,911 164,792,267 261,092,201 136,048,735 65,683,114

Increase/(decrease) in Net Assets resulting from operations 377,241 467,910 2,834,668 (1,454,075) 2,743,425 1,271,092 6,055,244 667,038

IssueofRedeemableParticipatingShares ------

Redemption of Redeemable Participating Shares (5,817,062) (6,384,432) (17,627,140) (15,796,172) (43,524,633) (18,802,533) (38,103,881) (2,182,090)

Decrease in Net Assets resulting from Share transactions (5,817,062) (6,384,432) (17,627,140) (15,796,172) (43,524,633) (18,802,533) (38,103,881) (2,182,090)

Net decrease in Shareholders’ funds (5,439,821) (5,916,522) (14,792,472) (17,250,247) (40,781,208) (17,531,441) (32,048,637) (1,515,052)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 69,025,153 87,569,364 97,569,487 100,136,664 124,011,059 243,560,760 104,000,098 64,168,062

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 92 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 62,963,862 249,762 - - - - 35,376,563 38,360,619

Increase/(decrease) in Net Assets resulting from operations 1,591,614 2,690,717 1,244,336 9,969,111 3,327,234 (281) (1,040,714) (1,344,910)

Issue of Redeemable Participating Shares - 76,790,059 37,243,705 200,151,357 93,495,758 250,000 - -

Redemption of Redeemable Participating Shares (2,188,358) (1,807,979) (456,365) (1,962,475) - - (2,496,614) (2,007,098)

(Decrease)/increase in Net Assets resulting from Share transactions (2,188,358) 74,982,080 36,787,340 198,188,882 93,495,758 250,000 (2,496,614) (2,007,098)

Net (decrease)/increase in Shareholders’ funds (596,744) 77,672,797 38,031,676 208,157,993 96,822,992 249,719 (3,537,328) (3,352,008)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 62,367,118 77,922,559 38,031,676 208,157,993 96,822,992 249,719 31,839,235 35,008,611

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 93 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 235,096,997 304,600,595 27,605,199 119,914,059 80,190,165 46,227,391 60,394,159 -

(Decrease)/increase in Net Assets resulting from operations (5,787,065) (6,147,287) (631,069) 1,258,155 1,148,775 131,053 664,773 1,113,997

Issue of Redeemable Participating Shares - - - - 7,945,117 - - 20,894,629

Redemption of Redeemable Participating Shares (11,433,498) (26,268,915) (4,595,300) (42,560,498) (38,098,059) (2,639,869) (3,606,877) (551,362)

(Decrease)/increase in Net Assets resulting from Share transactions (11,433,498) (26,268,915) (4,595,300) (42,560,498) (30,152,942) (2,639,869) (3,606,877) 20,343,267

Net (decrease)/increase in Shareholders’ funds (17,220,563) (32,416,202) (5,226,369) (41,302,343) (29,004,167) (2,508,816) (2,942,104) 21,457,264

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 217,876,434 272,184,393 22,378,830 78,611,716 51,185,998 43,718,575 57,452,055 21,457,264

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 94 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2020 (continued)

ANIMA Zephyr ANIMA Real Assets International Bond Year ended Year ended 31 December 2020 31 December 2020 EUR EUR

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 27,383,086 17,690,200

Decrease in Net Assets resulting from operations (167,076) (470,872)

Issue of Redeemable Participating Shares - 14,561,000

Redemption of Redeemable Participating Shares (1,840,592) -

(Decrease)/increase in Net Assets resulting from Share transactions (1,840,592) 14,561,000

Net (decrease)/increase in Shareholders’ funds (2,007,668) 14,090,128

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 25,375,418 31,780,328

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 95 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 6,713,204,628 476,686,102 166,065,847 486,089,114 126,808,465 76,299,244 241,451,814 322,316,295

Increase/(decrease) in Net Assets resulting from operations 538,619,789 (3,209,428) (234,450) 26,761,184 7,783,118 4,596,167 3,013,136 5,146,511

Issue of Redeemable Participating Shares 3,030,715,323 395,524,114 32,878,371 109,968,465 80,311,642 156,217,018 - 189,579,311

Redemption of Redeemable Participating Shares (2,581,789,842) (456,853,959) (51,506,745) (224,189,978) (43,030,666) (66,830,408) - (108,712,442)

Increase/(decrease) in Net Assets resulting from Share transactions 448,925,481 (61,329,845) (18,628,374) (114,221,513) 37,280,976 89,386,610 - 80,866,869

Net increase/(decrease) in Shareholders’ funds 987,545,270 (64,539,273) (18,862,824) (87,460,329) 45,064,094 93,982,777 3,013,136 86,013,380

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 7,700,749,898 412,146,829 147,203,023 398,628,785 171,872,559 170,282,021 244,464,950 408,329,675

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 96 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 480,064,530 199,499,750 51,117,562 38,843,574 45,890,566 114,631,797 7,875,491 36,133,655

Increase in Net Assets resulting from operations 84,025,903 57,339,435 11,369,190 8,698,148 7,484,832 24,185,658 76,858 1,177,099

Issue of Redeemable Participating Shares 99,814,035 124,246,351 35,024,732 10,995,224 13,677,229 52,360,399 4,521 3,441,445

Redemption of Redeemable Participating Shares (308,914,147) (117,950,978) (38,388,749) (12,701,056) (22,457,520) (93,036,713) (926,073) (14,049,497)

(Decrease)/increase in Net Assets resulting from Share transactions (209,100,112) 6,295,373 (3,364,017) (1,705,832) (8,780,291) (40,676,314) (921,552) (10,608,052)

Net (decrease)/increase in Shareholders’ funds (125,074,209) 63,634,808 8,005,173 6,992,316 (1,295,459) (16,490,656) (844,694) (9,430,953)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 354,990,321 263,134,558 59,122,735 45,835,890 44,595,107 98,141,141 7,030,797 26,702,702

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 97 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 32,284,548 275,995,518 632,876,849 358,974,913 20,321,798 47,978,116 26,412,614 10,161,501

Increase in Net Assets resulting from operations 5,909,377 11,178,113 25,260,349 1,717,390 2,165,962 6,055,997 2,838,693 2,145,344

Issue of Redeemable Participating Shares 51,771,908 56,994,687 254,716,517 68,341,002 892,102 83,671,532 1,400,000 34,047,000

Redemption of Redeemable Participating Shares (2,944,833) (99,542,391) (255,127,601) (170,974,584) (8,454,230) (19,432,373) (13,729,988) (807,248)

Increase/(decrease) in Net Assets resulting from Share transactions 48,827,075 (42,547,704) (411,084) (102,633,582) (7,562,128) 64,239,159 (12,329,988) 33,239,752

Net increase/(decrease) in Shareholders’ funds 54,736,452 (31,369,591) 24,849,265 (100,916,192) (5,396,166) 70,295,156 (9,491,295) 35,385,096

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 87,021,000 244,625,927 657,726,114 258,058,721 14,925,632 118,273,272 16,921,319 45,546,597

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 98 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year - 153,035,505 29,708,779 48,204,168 74,352,846 23,893,608 14,502,652 10,056,603

Increase/(decrease) in Net Assets resulting from operations 475,193 10,004,494 21,555 1,829,193 2,410,818 3,022,909 1,862,248 329,075

Issue of Redeemable Participating Shares 16,045,000 148,750,000 - 3,303,517 4,769,307 - 1,859,386 69,003,700

Redemption of Redeemable Participating Shares (2,527,561) - (29,730,334) (20,005,493) (33,064,627) (4,032,532) (2,368,450) (7,558,236)

Increase/(decrease) in Net Assets resulting from Share transactions 13,517,439 148,750,000 (29,730,334) (16,701,976) (28,295,320) (4,032,532) (509,064) 61,445,464

Net increase/(decrease) in Shareholders’ funds 13,992,632 158,754,494 (29,708,779) (14,872,783) (25,884,502) (1,009,623) 1,353,184 61,774,539

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 13,992,632 311,789,999 - 33,331,385 48,468,344 22,883,985 15,855,836 71,831,142

1 This Fund launched during the financial year ended 31 December 2019.

2 This fund was terminated during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 99 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 44,862,884 84,441,885 45,535,869 40,960,767 30,267,571 43,821,705 34,265,852 39,749,260

Increase in Net Assets resulting from operations 519,777 1,597,863 2,294,094 3,286,326 2,754,288 3,783,218 3,272,356 1,355,218

Issue of Redeemable Participating Shares 4,259,617 39,552,134 - - - - - 1,150,757

Redemption of Redeemable Participating Shares (13,867,589) (19,089,959) (8,946,294) (22,249,603) (4,037,933) (3,700,320) (1,769,158) (8,023,392)

(Decrease)/increase in Net Assets resulting from Share transactions (9,607,972) 20,462,175 (8,946,294) (22,249,603) (4,037,933) (3,700,320) (1,769,158) (6,872,635)

Net (decrease)/increase in Shareholders’ funds (9,088,195) 22,060,038 (6,652,200) (18,963,277) (1,283,645) 82,898 1,503,198 (5,517,417)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 35,774,689 106,501,923 38,883,669 21,997,490 28,983,926 43,904,603 35,769,050 34,231,843

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 100 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 18,960,915 10,850,436 45,960,583 83,750,603 31,786,855 155,641,595 54,253,052 59,683,381

Increase in Net Assets resulting from operations 5,706,379 1,310,883 2,054,868 8,880,152 461,935 11,694,853 5,698,944 5,050,721

Issue of Redeemable Participating Shares 2,538,693 2,493,361 - 84,706,855 - - - -

Redemption of Redeemable Participating Shares (5,913,906) (1,843,252) - (37,145,623) (2,029,053) (12,598,259) (7,755,464) (4,143,146)

(Decrease)/increase in Net Assets resulting from Share transactions (3,375,213) 650,109 - 47,561,232 (2,029,053) (12,598,259) (7,755,464) (4,143,146)

Net increase/(decrease) in Shareholders’ funds 2,331,166 1,960,992 2,054,868 56,441,384 (1,567,118) (903,406) (2,056,520) 907,575

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 21,292,081 12,811,428 48,015,451 140,191,987 30,219,737 154,738,189 52,196,532 60,590,956

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 101 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 70,566,639 89,928,534 111,464,356 129,745,647 260,660 - - -

Increase/(decrease) in Net Assets resulting from operations 8,080,768 8,373,711 9,877,745 7,848,529 21,268,473 13,853,600 16,629,906 (47,894)

Issue of Redeemable Participating Shares - - - - 189,408,944 249,760,984 161,828,087 65,731,008

Redemption of Redeemable Participating Shares (4,182,433) (4,816,359) (8,980,142) (20,207,265) (46,145,810) (2,522,383) (42,409,258) -

(Decrease)/increase in Net Assets resulting from Share transactions (4,182,433) (4,816,359) (8,980,142) (20,207,265) 143,263,134 247,238,601 119,418,829 65,731,008

Net increase/(decrease) in Shareholders’ funds 3,898,335 3,557,352 897,603 (12,358,736) 164,531,607 261,092,201 136,048,735 65,683,114

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 74,464,974 93,485,886 112,361,959 117,386,911 164,792,267 261,092,201 136,048,735 65,683,114

1 This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 102 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019 (continued)

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year - - 35,436,535 37,510,653 219,261,787 289,759,299 30,433,710 140,917,415

(Decrease)/increase in Net Assets resulting from operations (46,259) (238) 1,229,221 2,211,728 22,272,112 26,985,055 2,160,614 9,857,803

Issue of Redeemable Participating Shares 63,010,121 250,000 ------

Redemption of Redeemable Participating Shares - - (1,289,193) (1,361,762) (6,436,902) (12,143,759) (4,989,125) (30,861,159)

Increase/(decrease) in Net Assets resulting from Share transactions 63,010,121 250,000 (1,289,193) (1,361,762) (6,436,902) (12,143,759) (4,989,125) (30,861,159)

Net increase/(decrease) in Shareholders’ funds 62,963,862 249,762 (59,972) 849,966 15,835,210 14,841,296 (2,828,511) (21,003,356)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 62,963,862 249,762 35,376,563 38,360,619 235,096,997 304,600,595 27,605,199 119,914,059

1 This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 103 ANIMA Funds Plc Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares for the financial year ended 31 December 2019 (continued)

ANIMA ANIMA ZephyrANIMA Zephyr ANIMA ANIMA Defensive Zephyr Global Global Allocation 1 Real Assets International Bond Year ended Year endedYear ended Year ended Year ended 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR

Net Assets Attributable to Holders of Redeemable Participating Shares at beginning of financial year 46,105,555 45,657,739 - 28,228,502 20,493,631

Increase in Net Assets resulting from operations 1,052,807 5,078,778 1,461,652 1,328,514 1,195,349

Issue of Redeemable Participating Shares 57,153,623 - 60,150,312 - -

Redemption of Redeemable Participating Shares (24,121,820) (4,509,126) (1,217,805) (2,173,930) (3,998,780)

Increase/(decrease) in Net Assets resulting from Share transactions 33,031,803 (4,509,126) 58,932,507 (2,173,930) (3,998,780)

Net increase/(decrease) in Shareholders’ funds 34,084,610 569,652 60,394,159 (845,416) (2,803,431)

Net Assets Attributable to Holders of Redeemable Participating Shares at end of financial year 80,190,165 46,227,391 60,394,159 27,383,086 17,690,200

1This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. NM ud Plc Funds ANIMA 104 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020

ANIMA ANIMA Medium Term ANIMA Bond ANIMA Global ANIMA Short Term

Total CompanyANIMA LiquidityShort Term Bond Bond Dollar Bond ANIMA Life Bond3 Corporate Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 222,204,019 (3,901,600) (211,568) 13,678,427 (2,762,374) (1,014,156) 1,282,927 1,577,223 redeemable shares before distributions

Movement in cash with/due to broker (7,842,971) ------330,000 Movement in financial assets at fair value through profit or loss (755,197,767) (244,906,589) (162,920,254)1 (13,048,380) 232,190,512 (85,922,753) (33,316,230) 16,500,03 Unrealised movement on derivative assets and liabilities 30,108,862 - - - (15,691) (4,107) - (582,821)

Movement in receivables 1,640,003 (842,737) (1,452,835) 824,682 (377,130) 269,612 1,358,211 (1,220,034) Movement in payables 6,855,879 (98,614) 4,229 (209,198) (12,740) (59,639) (407,475) (54,564)

Net cash (outflow)/inflow from operating activities (502,231,975) (249,749,540) (164,580,428) 1,245,531 (89,090,688) 15,691,741 234,424,175 (33,266,426)

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 3,382,739,690 596,339,817 248,997,731 173,473,782 241,499,933,734 68,468,402 - 93,847 Amounts paid on redemption of Redeemable Participating Shares (2,821,009,334) (324,166,157) (70,674,689),195) (164,011,900) (245,747,877) (147,262,850) (98,652,021) (82,551 Distributions paid to shareholders (24,338,118) ------

Net cash inflow/(outflow) from financing activities 537,392,238 272,173,660 178,323,042 9,461,882 94,237,083 (14,082,793) (245,747,877) (4,804,287)

Net increase/(decrease) in cash and cash equivalents 35,160,263 22,424,120 13,742,614 10,707,413 5,146,395 1,608,948 (11,323,702) (38,070,713)

Cash and cash equivalents at beginning of year 1 516,021,880 35,517,287 3,910,367 9,179,188 9,666,403 5,399,920 11,373,084 70,362,475

Cash and cash equivalents at end of1 financial year 551,182,143 57,941,407 17,652,981 19,886,601 14,812,798 7,008,868 49,382 32,291,762

Supplementary information

Taxation paid2 (3,228,172) - - - - (1,047) - - Interest received 66,625 - - - 777 78 30,050 438 Interest paid (5,276,468) (711,720) (108,664) (161,114) (71,311) (74,115) (138,864) (487,104) Dividend received 28,292,968 ------

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax. NM ud Plc Funds ANIMA 3 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

The accompanying notes form an integral part of the Financial Statements. 105 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA Global EquityANIMA Emerging ANIMA ANIMA Euro ANIMA

Europe EquityANIMA U.S. EquityAsia/Pacific Equity Markets EquityGlobal Selection4 Equity Global Currencies Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 914,560 41,193,302 1,462,991 (3,681,148) 3,763,294 205,302 950,296 (213,672) redeemable shares before distributions

Movement in cash with/due to broker 1,055,615 148,727 89,133 (10,000) 280,315 - 784 - Movement in financial assets at fair value through profit or loss 10,814,102 (96,728,065) (6,731,469) 14,758,50499) (369,044) 778,759 (9,085,686) (12,362,1 Unrealised movement on derivative assets and liabilities 788,867 192,341 (143,666) 99,619 (313,106) (6,336) 1,274 (45,615)

Movement in receivables 192,556 (13,936) (215) 16,132 (18,475) (911) 778 282 Movement in payables (312,272) (37,110) (34,961) (51,143) (48,377) 3,647 (43,969) (6,811)

Net cash inflow/(outflow) from operating activities 13,453,428 (55,244,741) (5,358,187) 11,131,964 3,294,607 (8,883,984) (11,453,036) 512,943

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 161,990,249 196,363,043 16,612,278 14,285,038 11,537,701286 10,002,000 54,912,933 2, Amounts paid on redemption of Redeemable Participating Shares (178,897,020) (150,457,031) (14,413,477) (25,496,190)2) (12,863,286) (1,953,515) - (44,051,51 Distributions paid to shareholders ------

Net cash (outflow)/inflow from financing activities (16,906,771) 45,906,012 2,198,801 (11,211,152) (1,325,585) 10,002,000 10,861,421 (1,951,229)

Net (decrease)/increase in cash and cash equivalents (3,453,343) (9,338,729) (3,159,386) (79,188) 1,969,022 1,118,016 (591,615) (1,438,286)

Cash and cash equivalents at beginning of year 1 7,206,528 12,842,381 8,074,838 1,288,034 4,587,183 - 937,091 1,784,820

Cash and cash equivalents at end of1 financial year 3,753,185 3,503,652 4,915,452 1,208,846 6,556,205 1,118,016 345,476 346,534

Supplementary information

Taxation paid2 (486,144) (1,101,964) (130,115) (177,908) (95,740) (459) (196,865) - Interest received 827 983 95 15 4,056 - 22 98 Interest paid (75,164) (30,661) (63,417) (3,663) (23,028) - (17,342) (1,897) Dividend received 7,303,804 3,839,236 1,251,327 905,695 675,452 610 2,119,060 -

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts.

NM ud Plc Funds ANIMA 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax.

The accompanying notes form an integral part of the Financial Statements. 106 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA Variable Rate ANIMA ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart Bond Hybrid BondGovernment BondPotential EuropeANIMA Star BondVolatility EuropeVolatility Global Volatility Italy Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 331,149 2,342,889 5,263,467 100,719,858 (7,007,031) (702,573) 2,899,503 (361,695) redeemable shares before distributions

Movement in cash with/due to broker 12,546 - 65,385 (2,830,909) (1,205,892) 180,309 (296,906) (139,121) Movement in financial assets at fair value through profit or loss 3,012,450 (4,932,363) 76,062,566 (182,055,571)) 3,461,326 9,327,825 2,571,999 (33,463,153 Unrealised movement on derivative assets and liabilities 9,700 (295,331) 125,654 (1,303,313) 2,462,709 (42,886) (1,002,304) (122,920)

Movement in receivables 9,570 (65,365) 404,078 (173,942) 1,072,358 (243) (1,318) (278) Movement in payables (22,177) (18,451) (160,043) 5,529,685 (217,274) (14,945) 6,171 (48,281)

Net cash inflow/(outflow) from operating activities 3,353,238 (2,968,621) 81,761,107 (80,114,192) 4,432,695 1,991,661 (31,858,007) 2,789,031

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 2,512,736 32,308,523 55,676,935 440,922,891 120,218,881 796,591 50,678,411 - Amounts paid on redemption of Redeemable Participating Shares (5,987,074) (20,469,100) (139,893,030) (331,416,285)(17,532,291) (105,719,821) (2,702,498) (3,018,133) Distributions paid to shareholders ------

Net cash (outflow)/inflow from financing activities (3,474,338) 11,839,423 (84,216,095) 109,506,606 14,499,060 (2,221,542) 33,146,120 (2,702,498)

Net (decrease)/increase in cash and cash equivalents (121,100) 8,870,802 (2,454,988) 29,392,414 18,931,755 (229,881) 1,288,113 86,533

Cash and cash equivalents at beginning of year 1 408,870 2,935,560 6,088,097 120,814,052 21,912,712 1,000,607 10,417,428 685,280

Cash and cash equivalents at end of1 financial year 287,770 11,806,362 3,633,109 150,206,466 40,844,467 770,726 11,705,541 771,813

Supplementary information

Taxation paid2 - 21,029 - (915,793) - - - - Interest received - 179 119 2,512 198 - 335 - Interest paid (3,727) (35,014) (51,684) (1,197,399) (361,051) (6,024) (84,222) (5,230) Dividend received - - 3,396 9,568,749 270,006 - - -

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax.

NM ud Plc Funds ANIMA

The accompanying notes form an integral part of the Financial Statements. 107 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA Smart Smart Volatility ANIMA Credit ANIMA ANIMA Star HighANIMA Trading ANIMA ANIMA Smart

Volatility USAEmerging Markets OpportunitiesTesoreria Imprese3 Potential Italy Fund4 Active SelectionDividends Europe Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 2,681,040 3,910,342 7,036,275 - (1,242,304) 6,031,443 (1,136,261) (896,899) redeemable shares before distributions

Movement in cash with/due to broker (497,306) (3,836,490) 260,000 5 268,553 9,333 - - Movement in financial assets at fair value through profit or loss (27,685,544) (79,427,473) (65,826,557) -4,188 14,381,041 (35,849,648) 2,981,333 2,84 Unrealised movement on derivative assets and liabilities (551,513) (922,620) (575,735) - (30,265) (943,992) - -

Movement in receivables (44,977) (23,507) (467,882) 462 13,188 52,121 - 11,507 Movement in payables 21,645 (1,340) (16,413) (8,161) (42,701) 237,218 (25,986) (94,744)

Net cash (outflow)/inflow from operating activities (26,076,655) (80,301,088) (59,590,312) (7,694) 13,347,512 (30,463,525) 1,819,086 1,864,052

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 33,937,439 89,554,768 53,500,000 - 1,639,791 58,571,675 - 4,022,000 Amounts paid on redemption of Redeemable Participating Shares (6,414,496) (1,449,934) - - (15,869,328) (19,540,396) (2,630,731) (5,885,094) Distributions paid to shareholders ------

Net cash inflow/(outflow) from financing activities 27,522,943 88,104,834 53,500,000 - (14,229,537) 39,031,279 (2,630,731) (1,863,094)

Net increase/(decrease) in cash and cash equivalents 1,446,288 7,803,746 (6,090,312) (7,694) (882,025) 8,567,754 (811,645) 958

Cash and cash equivalents at beginning of year 1 2,442,393 961,736 54,719,657 7,694 2,478,356 9,190,144 1,209,867 856,624

Cash and cash equivalents at end of1 financial year 3,888,681 8,765,482 48,629,345 - 1,596,331 17,757,898 398,222 857,582

Supplementary information

Taxation paid2 - - 12,444 - (35,405) (52,783) - (1,040) Interest received 251 - 46 462 4 228 77 - Interest paid (23,734) (17,452) (629,160) - (20,734) (47,258) (6,885) (5,893) Dividend received - - - - 233,118 340,811 - 107,360

The accompanying notes form an integral part of the Financial Statements. 108 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA

Flexible BondFlexible Income3 Infrastructure3 Solution 2022-I Solution 2022-IISolution 2022-III Solution 2023-I Solution EM Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of (819,782) (279,796) (539,588) (1,126,129) (647,422) (1,472,466) (2,711,294) (1,878,381) redeemable shares before distributions

Movement in cash with/due to broker 277,916 49,234 1,178,757 - - - - - Movement in financial assets at fair value through profit or loss 28,836,600 31,417,433 91,046,771 4,759,935561 6,923,954 6,100,044 4,729,976 3,345, Unrealised movement on derivative assets and liabilities 892,651 402,359 (373,034) - - - - -

Movement in receivables 115,280 232,387 149,183 (3,051) 14,134 13,200 - - Movement in payables (39,879) (43,547) (139,848) (19,277) (16,219) (13,158) (17,089) (13,986)

Net cash inflow from operating activities 29,262,786 31,778,070 91,322,241 3,611,478 6,274,447 4,627,620 2,001,593 1,453,194

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 11,230,529 1,233,176 2,431,700 - - - - - Amounts paid on redemption of Redeemable Participating Shares (39,241,921) (36,894,584) (110,567,594) (6,140,717)667,738) (6,143,056) (2,659,052) (5,211,119) (3, Distributions paid to shareholders ------

Net cash outflow from financing activities (28,011,392) (35,661,408) (108,135,894) (6,140,717) (6,143,056) (5,211,119) (3,667,738) (2,659,052)

Net increase/(decrease) in cash and cash equivalents 1,251,394 (3,883,338) (16,813,653) (2,529,239) 131,391 (583,499) (1,666,145) (1,205,858)

Cash and cash equivalents at beginning of year 1 5,457,073 3,899,305 16,855,538 3,026,869 1,018,036 1,920,834 3,373,462 2,207,684

Cash and cash equivalents at end of1 financial year 6,708,467 15,967 41,885 497,630 1,149,427 1,337,335 1,707,317 1,001,826

Supplementary information

Taxation paid2 - - (7,012) - - - - - Interest received 737 256 9,012 - - 93 - 134 Interest paid (18,171) (16,292) (152,358) (31,417) (15,123) (18,758) (22,129) (11,855) Dividend received 59,974 10,045 502,353 16,733 12,703 76,507 9,261 32,587

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax. 3ThisFundlaunchedduringthefinancialyearthereforetherearenocomparatives,seenote2 forfurtherdetails. NM ud Plc Funds ANIMA 2

The accompanying notes form an integral part of the Financial Statements. 109 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA HighANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA Italian Bond Italian Equity Yield Bond Opportunities Global MacroBrightview 2023-IBrightview 2023-IIBrightview 2023-III Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 1,173,361 (1,880,426) 331,449 478,648 10,325,982 (387,659) 2,116,500 275,114 redeemable shares before distributions

Movement in cash with/due to broker (3,294) - - - (3,291,701) - - - Movement in financial assets at fair value through profit or loss 1,481,943 5,641,896 (5,231,269) (4,609,662)5,170,729 (54,496,382) 5,426,202 35,271,445 1 Unrealised movement on derivative assets and liabilities 38,614 - (29,453) (52,672) (2,491,725) (2,461,541) (3,951,437) (1,189,199)

Movement in receivables 17,142 (7,242) (63,502) (150,665) (290,917) 35,558 389,956 74,179 Movement in payables (44,244) (26,327) (8,178) (17,056) 719,382 (13,600) (94,670) (33,555)

Net cash inflow/(outflow) from operating activities 2,663,522 3,727,901 (5,000,953) (4,351,407) (49,525,361) 2,598,960 33,731,794 14,297,268

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 645,810 2,763,236 11,698,948 - 115,172,583 - - - Amounts paid on redemption of Redeemable Participating Shares (3,547,264) (6,957,294) (4,751,082) -904,425) (53,376,072) (2,542,633) (33,865,436) (13, Distributions paid to shareholders ------

Net cash (outflow)/inflow from financing activities (2,901,454) (4,194,058) 6,947,866 - 61,796,511 (2,542,633) (33,865,436) (13,904,425)

Net (decrease)/increase in cash and cash equivalents (237,932) (466,157) 1,946,913 (4,351,407) 12,271,150 56,327 (133,642) 392,843

Cash and cash equivalents at beginning of year 1 887,520 791,536 589,179 6,431,769 8,907,040 12,068 376,856 173,985

Cash and cash equivalents at end of1 financial year 649,588 325,379 2,536,092 2,080,362 21,178,190 68,395 243,214 566,828

Supplementary information

Taxation paid2 - (49,727) (4) - (1,994) (7,644) - - Interest received 1 - 2 58 1,097 - 41 - Interest paid (5,437) (1,408) (6,855) (26,720) (196,087) (698) (3,582) (2,450) Dividend received - 305,624 - - 38,618 547,054 - -

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax.

NM ud Plc Funds ANIMA The accompanying notes form an integral part of the Financial Statements. 110 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Brightview 2023-IVBrightview 2024-IBrightview 2024-IIBrightview 2024-IIIBrightview 2024-IVBrightview 2024-VBrightview 2025-IBrightview 2027-I Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 1,001,839 1,513,175 1,408,941 5,357,733 1,668,173 4,585,672 7,506,696 7,042,919 redeemable shares before distributions

Movement in cash with/due to broker ------Movement in financial assets at fair value through profit or loss 8,131,229 4,296,848 4,835,944 16,289,0007,587 13,984,603 41,712,399 10,955,983 35,31 Unrealised movement on derivative assets and liabilities (580,583) 1,872 1,269,397 (1,579,450) 3,217,700 (520,175) 6,857,619 (3,371,590)

Movement in receivables 30,563 14,747 83,528 102,613 69,416 142,843 67,347 138,071 Movement in payables (29,226) (38,220) (46,217) (60,781) (70,120) (101,915) (16,699) (29,349)

Net cash inflow from operating activities 8,553,822 5,788,421 7,551,593 20,109,115 18,869,772 45,818,824 25,370,946 39,097,638

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares ------Amounts paid on redemption of Redeemable Participating Shares (8,509,415) (5,690,661) (6,328,158) (17,713,896)429,560) (16,146,539) (38,525,168) (43,873,967) (18, Distributions paid to shareholders - (1,135,934) (941,031) (2,523,065) (3,122,248) (1,842,247) (6,235,604) (987,675)

Net cash outflow from financing activities (8,509,415) (6,826,595) (7,269,189) (20,236,961) (19,268,787) (45,716,214) (24,665,164) (39,512,843)

Net increase/(decrease) in cash and cash equivalents 44,407 (1,038,174) 282,404 (127,846) (399,015) 102,610 705,782 (415,205)

Cash and cash equivalents at beginning of year 1 219,127 1,293,989 162,835 381,424 632,605 313,609 142,205 666,620

Cash and cash equivalents at end of1 financial year 263,534 255,815 445,239 253,578 233,590 416,219 847,987 251,415

Supplementary information

Taxation paid2 ------Interest received 879 - - - - 6,633 3,673 - Interest paid (2,753) (4,179) (1,586) (4,982) (5,206) (4,646) (4,560) (5,152) Dividend received ------

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax.

NM ud Plc Funds ANIMA The accompanying notes form an integral part of the Financial Statements. 111 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA ANIMA ANIMA ANIMA Brightview ANIMA ANIMA ANIMA ANIMA Orizzonte

Brightview-II Brightview-III Brightview IV V3 Brightview-VI3 Brightview3 VII Brightview3 VIII Europa 2022 Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 1,327,161 1,591,614 2,690,717 1,244,336 9,969,111 3,327,234 (281) (1,040,714) redeemable shares before distributions

Movement in cash with/due to broker ------Movement in financial assets at fair value through profit or loss (12,195,098) (11,596,813) (88,191,147)) (42,575,990) (230,380) (228,540,440) 3,112,220 (88,719,702 Unrealised movement on derivative assets and liabilities 12,299,120 10,876,263 11,045,866 4,771,079 21,732,506 (3,446,955) 3 (165,623)

Movement in receivables (386,861) (370,972) (276,278) (99,154) (653,532) (1,159) (31) 48,699 Movement in payables 14,325 13,162 37,941 20,924 125,852 37,850 - 232,089

Net cash inflow/(outflow) from operating activities 1,058,647 513,254 (74,692,901) (36,638,805) (197,366,503) (88,802,732) (230,689) 2,186,671

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 1,720,323 1,651,600 76,790,059 37,243,705 200,151,357 93,495,758 250,000 - Amounts paid on redemption of Redeemable Participating Shares (2,182,090) (2,188,358) (1,807,979) (456,365) (1,853,790) - - (2,513,475) Distributions paid to shareholders (660,123) ------

Net cash (outflow)/inflow from financing activities (1,121,890) (536,758) 74,982,080 36,787,340 198,297,567 93,495,758 250,000 (2,513,475)

Net (decrease)/increase in cash and cash equivalents (63,243) (23,504) 289,179 148,535 931,064 4,693,026 19,311 (326,804)

Cash and cash equivalents at beginning of year 1 209,843 209,003 15,033 - - - - 760,860

Cash and cash equivalents at end of1 financial year 146,600 185,499 304,212 148,535 931,064 4,693,026 19,311 434,056

Supplementary information

Taxation paid2 ------Interest received - - 2,665 91 - (1,395) - - Interest paid (1,663) (1,149) (2,285) (6,039) (31,092) - - (4,206) Dividend received ------

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax. 3ThisFundlaunchedduringthefinancialyearthereforetherearenocomparatives,seenote22forfurtherdetails.

NM ud Plc Funds ANIMA

The accompanying notes form an integral part of the Financial Statements. 112 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA Orizzonte Europa 2023 - RendimentoANIMA OrizzonteANIMA OrizzonteANIMA OrizzonteANIMA Orizzonte ANIMA ANIMA Zephyr Bilanciato Sostenibile 2023Benessere 2023 Consumi 2023 Energia 2023ANIMA Defensive Zephyr GlobalGlobal Allocation Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 202031 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of (964,229) (3,354,021) (3,342,988) (360,606) 2,259,859 1,148,775 131,053 664,773 redeemable shares before distributions

Movement in cash with/due to broker ------142,711 Movement in financial assets at fair value through profit or loss 2,460,854 23,419,550 36,905,526 5,607,8401,320) 47,003,931 22,541,572 2,191,591 (1,37 Unrealised movement on derivative assets and liabilities 477,753 (6,281,090) (4,699,895) (929,862) (8,359,539) - 25,144 (68,023)

Movement in receivables 168,027 1,820,506 1,856,028 63,428 86,174 - (444,349) (429,187) Movement in payables 122,465 380,683 599,483 236,566 1,623,450 (55,813) (43,619) (19,887)

Net cash inflow/(outflow) from operating activities 2,264,870 15,985,628 31,318,154 4,617,366 42,613,875 23,634,534 1,859,820 (1,080,933)

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares - - - - - 8,013,643 - - Amounts paid on redemption of Redeemable Participating Shares (2,023,982) (11,494,299) (26,922,857) (4,704,980)581,668) (43,617,566) (3,622,951) (38,106,036) (2, Distributions paid to shareholders (380,681) (2,433,044) (2,804,299) (270,463) (1,001,704) - - -

Net cash outflow from financing activities (2,404,663) (13,927,343) (29,727,156) (4,975,443) (44,619,270) (30,092,393) (2,581,668) (3,622,951)

Net (decrease)/increase in cash and cash equivalents (139,793) 2,058,285 1,590,998 (358,077) (2,005,395) (6,457,859) (721,848) (4,703,884)

Cash and cash equivalents at beginning of year 1 796,925 1,996,804 3,626,144 688,038 2,746,917 9,559,132 5,742,548 7,886,118

Cash and cash equivalents at end of1 financial year 657,132 4,055,089 5,217,142 329,961 741,522 3,101,273 5,020,700 3,182,234

Supplementary information

Taxation paid2 ------Interest received ------594170 Interest paid (5,083) - (21,949) (2,811) (14,944) (48,874) (20,528) (39,390) Dividend received ------21,240

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts.

NM ud Plc Funds ANIMA 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax.

The accompanying notes form an integral part of the Financial Statements. 113 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2020 (continued)

ANIMA Zephyr ANIMA Zephyr ANIMA

New3 Real AssetsInternational Bond Year ended Year ended Year ended 31 December 202031 December 202031 December 2020 EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 1,113,997 (167,076) (470,872) redeemable shares before distributions

Movement in cash with/due to broker (39,061) 1,634 (43,248) Movement in financial assets at fair value through profit or loss (19,924,972) 53,088 (11,293,248) Unrealised movement on derivative assets and liabilities (9,070) (77,790) 61,678

Movement in receivables (250,350) (153,894) (33,614) Movement in payables 21,399 (27,877) (4,542)

Net cash outflow from operating activities (19,088,057) (371,915) (11,783,846)

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 20,894,629 - 14,561,000 Amounts paid on redemption of Redeemable Participating Shares (506,821) (1,861,113) - Distributions paid to shareholders - - -

Net cash inflow/(outflow) from financing activities 20,387,808 (1,861,113) 14,561,000

Net increase/(decrease) in cash and cash equivalents 1,299,751 (2,233,028) 2,777,154

Cash and cash equivalents at beginning of year 1 - 3,317,163 467,508

Cash and cash equivalents at end of1 financial year 1,299,751 1,084,135 3,244,662

Supplementary information

Taxation paid2 --- Interest received (1) 33 2 Interest paid (16,969) (13,411) (4,977) Dividend received - 41,653 -

1 Cash and cash equivalents include cash at bank and in hand and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax. 3 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA

The accompanying notes form an integral part of the Financial Statements. 114 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019

ANIMA ANIMA Medium Term ANIMA Bond ANIMA Global ANIMA Short Term Total CompanyANIMA LiquidityShort Term Bond Bond Dollar Bond ANIMA Life BondCorporate Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 559,638,063 (3,209,428) (234,450) 26,761,184 7,783,118 4,596,167 3,013,136 5,146,511 redeemable shares before distributions

Movement in cash with/due to broker 3,956,358 ------(330,000) Movement in financial assets at fair value through profit or loss (1,086,655,386) 29,361,900 20,187,578 85,537,7279,866) (37,376,790) (98,645,815) (89,818,051) (48 Unrealised movement on derivative assets and liabilities (71,493,471) ------625,567

Movement in receivables 3,810,577 (973,715) 187,791 1,185,970 (174,540) (628,691) 79,279 (511,481) Movement in payables 3,563,394 135,528 43,495 135,206 68,809 112,854 195,815 283,554

Net cash (outflow)/inflow from operating activities (587,180,465) 25,314,285 20,184,414 113,620,087 (29,699,403) (85,737,721) 2,798,364 (93,431,664)

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 3,069,161,441 397,686,628 32,869,829 113,522,210,056 80,336,262 155,801,636 - 222,226 Amounts paid on redemption of Redeemable Participating Shares (2,566,686,926) (452,988,589) (51,118,157)660) (225,776,892) - (42,702,800) (108,664,415) (66,776, Distributions paid to shareholders (21,018,274) ------

Net cash inflow/(outflow) from financing activities 481,456,241 (55,301,961) (18,248,328) (112,254,682) 37,633,462 89,024,976 - 113,561,641

Net (decrease)/increase in cash and cash equivalents (105,724,224) (29,987,676) 1,936,086 1,365,405 7,934,059 3,287,255 2,798,364 20,129,977

Cash and cash equivalents at beginning of year 1 621,746,104 65,504,963 1,974,281 7,813,783 1,732,344 2,112,665 8,574,720 50,232,498

Cash and cash equivalents at end of1 financial year 516,021,880 35,517,287 3,910,367 9,179,188 9,666,403 5,399,920 11,373,084 70,362,475

Supplementary information

Taxation paid2 (5,198,988) - - - - (1,173) - - Interest received 213,431 - - 174 5,933 2,308 - 25,971 Interest paid (4,516,049) (598,333) (32,744) (81,519) (19,869) (26,919) (107,948) (428,834) Dividend received 41,594,750 ------

1 Cash and cash equivalents include cash at bank and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax NM ud Plc Funds ANIMA

The accompanying notes form an integral part of the Financial Statements. 115 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA Emerging ANIMA Euro ANIMA Variable Rate Europe EquityANIMA U.S. EquityAsia/Pacific Equity Global Equity Markets Equity Equity Global Currencies Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 84,025,903 57,339,435 11,369,190 8,698,148 7,484,832 24,185,658 76,858 1,177,099 redeemable shares before distributions

Movement in cash with/due to broker 394,148 275,126 (2,068) - (335,328) (784) - 306,795 Movement in financial assets at fair value through profit or loss 53,665,335 (67,011,642) (7,614,873) (5,651,899)9,172,327 (758,000) 13,888,022 1,120,324 Unrealised movement on derivative assets and liabilities (1,679,020) (1,073,466) (281,092) (112,127) (150,086) 25,677 25,420 (203,368)

Movement in receivables (69,965) 225,341 (3,694) (13,095) (5,397) (64,873) 32,078 45,172 Movement in payables 79,128 205,692 62,070 51,681 57,035 51,871 17,444 13,593

Net cash inflow/(outflow) from operating activities 136,415,529 (10,039,514) 3,529,533 2,972,708 6,293,056 38,085,571 1,272,124 10,511,618

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 100,048,315 123,514,197 35,029,048 11,070,398 13,686,23407 52,343,770 4,521 3,436,5 Amounts paid on redemption of Redeemable Participating Shares (308,664,679) (117,496,411) (38,260,267)) (12,658,772) (925,713) (22,346,328) (14,024,628) (93,064,863 Distributions paid to shareholders ------

Net cash (outflow)/inflow from financing activities (208,616,364) 6,017,786 (3,231,219) (1,588,374) (8,660,094) (40,721,093) (921,192) (10,588,121)

Net (decrease)/increase in cash and cash equivalents (72,200,835) (4,021,728) 298,314 1,384,334 (2,367,038) (2,635,522) 350,932 (76,503)

Cash and cash equivalents at beginning of year 1 79,407,363 16,864,109 7,776,524 (96,300) 6,954,221 3,572,613 1,433,888 485,373

Cash and cash equivalents at end of1 financial year 7,206,528 12,842,381 8,074,838 1,288,034 4,587,183 937,091 1,784,820 408,870

Supplementary information

Taxation paid2 (1,471,446) (1,019,673) (153,097) (247,108) (130,641) 486,223 - - Interest received 21,039 21,966 977 97 6,146 235 779 - Interest paid (245,509) (55,725) (47,526) (3,646) (27,095) (45,536) (3,060) (6,274) Dividend received 13,050,606 3,769,655 1,670,814 1,502,498 956,612 4,042,225 - -

1 Cash and cash equivalents include cash at bank and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax NM ud Plc Funds ANIMA

The accompanying notes form an integral part of the Financial Statements. 116 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019 (continued)

Movement in cash with/due to broker - 4,486,211 1,561,205 1,951,982 249,602 (1,730,341) 700,122 (1,092,258) Movement in financial assets at fair value through profit or loss (51,633,167) 29,991,529 (29,359,983) 71,198,31072 (32,913,587) 5,803,419 (58,908,177) 8,966,4 Unrealised movement on derivative assets and liabilities 126,785 (3,239,007) 8,401,576 (4,718,987) (226,143) (1,200,590) (181,450) (499,599)

Movement in receivables (759,503) 70,966 (1,102,985) 681,492 (44,012) (238,451) (50,353) (56,536) Movement in payables 77,247 118,206 93,410 201,757 128 29,382 27,017 28,525

Net cash (outflow)/inflow from operating activities (46,279,261) 42,606,018 4,853,572 71,031,944 7,948,956 (55,992,180) 12,300,501 (32,388,111)

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 51,766,869 59,324,421 255,919,170 66,693,458000 892,102 83,529,532 1,400,000 34,047, Amounts paid on redemption of Redeemable Participating Shares (2,944,833) (99,594,548) (254,108,653) (170,776,609)13,729,988) (8,463,036) (807,248) (19,432,373) ( Distributions paid to shareholders ------

Net cash inflow/(outflow) from financing activities 48,822,036 (40,270,127) 1,810,517 (104,083,151) (7,570,934) 64,097,159 (12,329,988) 33,239,752

Net increase/(decrease) in cash and cash equivalents 2,542,775 2,335,891 6,664,089 (33,051,207) 378,022 8,104,979 (29,487) 851,641

Cash and cash equivalents at beginning of year 1 392,785 3,752,206 114,149,963 54,963,919 622,585 2,312,449 714,767 1,590,752

Cash and cash equivalents at end of1 financial year 2,935,560 6,088,097 120,814,052 (21,912,712) 1,000,607 10,417,428 685,280 2,442,393

Supplementary information

Taxation paid2 (20,774) - (833,321) (155,909) - - - - Interest received 786 1,551 36,887 28,527 - 2,379 - 896 Interest paid (23,162) (96,593) (905,715) (217,927) (6,057) (13,229) (5,468) (3,316) Dividend received - 11,087 10,493,057 774,746 - - - -

1 Cash and cash equivalents include cash at bank and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax NM ud Plc Funds ANIMA The accompanying notes form an integral part of the Financial Statements. 117 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019 (continued)

ANIMA Smart Volatility ANIMA Credit ANIMA ANIMA Star HighANIMA Star High ANIMA ANIMA Smart ANIMA

Emerging Markets3 OpportunitiesTesoreria Imprese4 Potential Italy Potential GlobalActive SelectionDividends Europe Flexible Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 475,193 10,004,494 21,555 1,829,193 2,410,818 3,022,909 1,862,248 329,075 redeemable shares before distributions

Movement in cash with/due to broker (528,491) (260,000) 257,839 (246,185) 94,164 - - (473,270) Movement in financial assets at fair value through profit or loss (13,068,077) (132,692,467) 25,349,739 12,972,33260) (56,544,276) 20,764,276 (914,590) (1,926,0 Unrealised movement on derivative assets and liabilities (122,100) 255,188 (145,230) 457,170 (299,263) - - (1,011,657)

Movement in receivables (31,081) (1,200,523) 213,596 253,666 5,638 - (4,081) (401,174) Movement in payables 73,913 146,313 (15,023) 1,315 28,100 23,661 94,120 68,122

Net cash (outflow)/inflow from operating activities (13,200,643) (123,746,995) 25,682,476 15,267,491 23,003,733 2,131,980 26,227 (58,033,180)

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 15,948,000 148,750,000 - 3,306,766 4,763,737 - 1,859,386 69,003,700 Amounts paid on redemption of Redeemable Participating Shares (1,785,621) - (29,730,334) (20,018,620)476,301) (33,055,440) (3,949,320) (2,368,450) (7, Distributions paid to shareholders ------

Net cash inflow/(outflow) from financing activities 14,162,379 148,750,000 (29,730,334) (16,711,854) (28,291,703) (3,949,320) (509,064) 61,527,399

Net increase/(decrease) in cash and cash equivalents 961,736 25,003,005 (4,047,858) (1,444,363) (5,287,970) (1,817,340) (482,837) 3,494,219

Cash and cash equivalents at beginning of year 1 - 29,716,652 4,055,552 3,922,719 14,478,114 3,027,207 1,339,461 1,962,854

Cash and cash equivalents at end of1 financial year 961,736 54,719,657 7,694 2,478,356 9,190,144 1,209,867 856,624 5,457,073

Supplementary information

Taxation paid2 - (6,676) - (67,102) (70,743) - (23,698) 2,546 Interest received - 2,683 23 57 8,564 4,261 - 1,091 Interest paid (1,221) (383,050) (15,473) (51,695) (41,094) (7,889) (4,453) (25,673) Dividend received - - - 442,285 409,239 - 347,411 9,709

1 Cash and cash equivalents include cash at bank and bank overdrafts. 2WithholdingtaxshownintheStatementofComprehensiveIncomerepresentsamountspaidfortax NM ud Plc Funds ANIMA

The accompanying notes form an integral part of the Financial Statements. 118 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019 (continued)

Movement in cash with/due to broker 342,710 (758,439) - - - - - 716,976 Movement in financial assets at fair value through profit or loss 4,554,244 (24,108,087) 3,734,082 17,289,287) (1,557,346) 4,947,064 (1,068,093) (3,556,498 Unrealised movement on derivative assets and liabilities (611,354) 1,248,438 - - - - - (513,995)

Movement in receivables 71,751 (48,261) 51,535 164,071 60,424 - 1,453 84,276 Movement in payables 34,325 120,256 10,566 3,335 8,403 11,063 9,964 30,090

Net cash inflow/(outflow) from operating activities 4,911,453 (21,948,230) 6,090,277 20,743,019 1,265,769 2,726,188 (272,725) 6,619,629

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 4,259,617 39,552,134 - - - - - 1,150,245 Amounts paid on redemption of Redeemable Participating Shares (13,701,074) (16,916,400) (8,783,758) (22,073,662)35,703) (3,646,164) (8,035,157) (3,622,508) (1,7 Distributions paid to shareholders ------

Net cash (outflow)/inflow from financing activities (9,441,457) 22,635,734 (8,783,758) (22,073,662) (3,646,164) (3,622,508) (1,735,703) (6,884,912)

Net (decrease)/increase in cash and cash equivalents (4,530,004) 687,504 (2,693,481) (1,330,643) (2,380,395) (896,320) (2,008,428) (265,283)

Cash and cash equivalents at beginning of year 1 8,429,309 16,168,034 5,720,350 2,348,679 4,301,229 4,269,782 4,216,112 1,152,803

Cash and cash equivalents at end of1 financial year 3,899,305 16,855,538 3,026,869 1,018,036 1,920,834 3,373,462 2,207,684 887,520

Supplementary information

Taxation paid2 - (333,223) ------Interest received 6,225 10,382 - - 532 - 3,813 - Interest paid (24,032) (98,198) (47,846) (19,870) (18,477) (33,700) (12,883) (9,727) Dividend received 13,598 1,770,608 27,990 130,074 404,048 77,323 33,590 -

1 Cash and cash equivalents include cash at bank and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax NM ud Plc Funds ANIMA The accompanying notes form an integral part of the Financial Statements. 119 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019 (continued)

Movement in cash with/due to broker - - - (1,580,350) - - - - Movement in financial assets at fair value through profit or loss (2,970,631) (2,468,403) (1,328,400) (57,313,930),407 (3,890,811) 5,472,364 19,240,466 10,220 Unrealised movement on derivative assets and liabilities - 22,172 26,954 335,943 5,355,119 (18,640,337) (8,737,424) (6,532,851)

Movement in receivables - (18,325) 39,742 2,000 (30,132) 157,935 338,607 247,577 Movement in payables 24,819 12,826 25,466 93,804 16,131 (4,382) (14,367) 33,505

Net cash inflow/(outflow) from operating activities 2,760,567 (1,140,847) 818,630 (49,582,381) 2,241,590 14,126,718 8,082,368 4,904,816

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 2,538,252 2,493,361 - 79,746,066 - - - - Amounts paid on redemption of Redeemable Participating Shares (5,389,310) (1,843,252) - (37,149,265)43,146) (1,948,316) (12,210,994) (7,448,345) (4,1 Distributions paid to shareholders - - - - (329,348) (1,678,183) (576,201) (633,500)

Net cash (outflow)/inflow from financing activities (2,851,058) 650,109 - 42,596,801 (2,277,664) (13,889,177) (8,024,546) (4,776,646)

Net (decrease)/increase in cash and cash equivalents (90,491) (490,738) 818,630 (6,985,580) (36,074) 237,541 57,822 128,170

Cash and cash equivalents at beginning of year 1 882,027 1,079,917 5,613,139 15,892,620 48,142 139,315 116,163 90,957

Cash and cash equivalents at end of1 financial year 791,536 589,179 6,431,769 8,907,040 12,068 376,856 173,985 219,127

Supplementary information

Taxation paid2 (107,081) (1,504) - (5,100) (43,102) - - - Interest received 135 576 663 6,089 - - - - Interest paid (6,799) (3,072) (40,769) (102,514) (548) (2,997) (1,628) (1,710) Dividend received 697,938 - - 91,117 774,558 - - -

1 Cash and cash equivalents include cash at bank and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax NM ud Plc Funds ANIMA The accompanying notes form an integral part of the Financial Statements. 120 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019 (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA

Brightview 2024-IBrightview 2024-IIBrightview 2024-IIIBrightview 2024-IVBrightview 2024-VBrightview 2025-I3 Brightview 2027-I3 Brightview-II3 Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 9,284,493 9,368,301 12,886,632 11,932,550 21,268,473 13,853,600 16,629,906 (47,894) redeemable shares before distributions

Movement in cash with/due to broker ------Movement in financial assets at fair value through profit or loss 4,419,768 5,607,670 10,816,714 (15,127,237)24,879) (167,590,452) (63,767,956) (283,788,475) (142,2 Unrealised movement on derivative assets and liabilities (8,562,807) (9,325,680) (12,360,211) 7,447,234 3,116,001 23,821,447 6,727,291 (668)

Movement in receivables 202,490 51,403 401,096 (425,549) (571,622) (1,216,642) (505,472) (3,265) Movement in payables (4,990) 35,594 64,076 96,401 180,162 178,721 136,134 18,941

Net cash inflow/(outflow) from operating activities 5,338,954 5,737,288 11,808,307 3,923,399 (143,597,438) (247,151,349) (119,237,020) (63,800,842)

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares - - - 7,355,728 189,408,944 249,760,984 161,828,087 64,010,685 Amounts paid on redemption of Redeemable Participating Shares (4,126,858) (4,677,096) (8,485,553) (19,642,630)24,447) (45,497,973) - (2,467,430) (41,9 Distributions paid to shareholders (1,203,725) (994,590) (3,008,887) (4,084,021) - - - -

Net cash (outflow)/inflow from financing activities (5,330,583) (5,671,686) (11,494,440) (16,370,923) 143,910,971 247,293,554 119,903,640 64,010,685

Net increase/(decrease) in cash and cash equivalents 8,371 65,602 313,867 (12,447,524) 313,533 142,205 666,620 209,843

Cash and cash equivalents at beginning of year 1 1,285,618 97,233 67,557 13,080,129 76 - - -

Cash and cash equivalents at end of1 financial year 1,293,989 162,835 381,424 632,605 313,609 142,205 666,620 209,843

Supplementary information

Taxation paid2 ------Interest received --3,760----- Interest paid (1,815) (1,496) (1,640) (18,301) (23,213) (162,666) (72,509) (2,791) Dividend received ------

1 Cash and cash equivalents include cash at bank and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax. 3 This Fund launched during the financial year ended 31 December 2019. NM ud Plc Funds ANIMA

The accompanying notes form an integral part of the Financial Statements. 121 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019 (continued)

ANIMA Orizzonte Europa 2023 ANIMA ANIMA ANIMA Orizzonte - RendimentoANIMA OrizzonteANIMA OrizzonteANIMA OrizzonteANIMA Orizzonte

Brightview-III3 Brightview3 IV Europa 2022 Bilanciato Sostenibile 2023Benessere 2023 Consumi 2023 Energia 2023 Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 201931 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of (46,259) (238) 1,799,629 2,611,752 24,791,443 30,006,084 2,489,874 11,527,570 redeemable shares before distributions

Movement in cash with/due to broker ------Movement in financial assets at fair value through profit or loss (61,117,606) (230,119) (2,804,400) (4,229,681),766,262 (1,509,698) 931,991 4,253,555 29 Unrealised movement on derivative assets and liabilities (959) (27) (145,703) (509,280) (16,803,499) (18,120,402) (2,672,380) (10,898,158)

Movement in receivables (3,265) (4,647) 296,723 321,227 2,265,413 2,775,854 407,714 2,159,578 Movement in payables 18,571 64 23,606 25,135 180,808 493,714 (1,116,695) 102,728

Net cash (outflow)/inflow from operating activities (61,149,518) (234,967) (830,145) (1,780,847) 8,924,467 16,087,241 3,362,068 32,657,980

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 61,358,521 250,000 ------Amounts paid on redemption of Redeemable Participating Shares - - (1,248,910) (1,344,878) (6,319,468) (11,693,441) (4,830,408) (29,795,321) Distributions paid to shareholders - - (570,408) (400,024) (2,519,331) (3,021,029) (329,260) (1,669,767)

Net cash inflow/(outflow) from financing activities 61,358,521 250,000 (1,819,318) (1,744,902) (8,838,799) (14,714,470) (5,159,668) (31,465,088)

Net increase/(decrease) in cash and cash equivalents 209,003 15,033 (2,649,463) (3,525,749) 85,668 1,372,771 (1,797,600) 1,192,892

Cash and cash equivalents at beginning of year 1 - - 3,410,323 4,322,674 1,911,136 2,253,373 2,485,638 1,554,025

Cash and cash equivalents at end of1 financial year 209,003 15,033 760,860 796,925 1,996,804 3,626,144 688,038 2,746,917

Supplementary information

Taxation paid2 ------Interest received ------Interest paid (2,631) - (4,978) (5,780) (7,157) (8,027) (5,962) (8,580) Dividend received ------

1 Cash and cash equivalents include cash at bank and bank overdrafts.

NM ud Plc Funds ANIMA 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax. 3 This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. 122 ANIMA Funds Plc Statement of Cash Flows for the financial year ended 31 December 2019 (continued)

ANIMA ANIMA Zephyr ANIMA Zephyr ANIMA

ANIMA Defensive Zephyr GlobalGlobal Allocation3 Real AssetsInternational Bond Year ended Year ended Year ended Year ended Year ended 31 December 201931 December 201931 December 201931 December 201931 December 2019 EUR EUR EUR EUR EUR Cash flows from operating activities Total comprehensive income attributable to holders of 1,052,807 5,078,778 1,461,652 1,328,514 1,195,349 redeemable shares before distributions

Movement in cash with/due to broker - 206,810 (162,667) (53,278) (33,873) Movement in financial assets at fair value through profit or loss (41,646,288) 726,418 (52,372,660) (1,665,345) 487,060 Unrealised movement on derivative assets and liabilities - 80,978 65,976 (9,296) (70,191)

Movement in receivables 81,358 (15,933) (148,276) (32,445) 5,345 Movement in payables 76,901 47,898 58,955 30,125 28,876

Net cash (outflow)/inflow from operating activities (40,435,222) 6,124,949 (51,097,020) (401,725) 1,612,566

Cash flows from financing activities Amounts received on issue of Redeemable Participating Shares 57,134,448 - 60,150,312 271,993 - Amounts paid on redemption of Redeemable Participating Shares (23,985,954) (4,509,126) (1,167,174) (2,153,409) (3,998,780) Distributions paid to shareholders - - - - -

Net cash inflow/(outflow) from financing activities 33,148,494 (4,509,126) 58,983,138 (1,881,416) (3,998,780)

Net (decrease)/increase in cash and cash equivalents (7,286,728) 1,615,823 7,886,118 (2,283,141) (2,386,214)

Cash and cash equivalents at beginning of year 1 16,845,860 4,126,725 - 5,600,304 2,853,722

Cash and cash equivalents at end of1 financial year 9,559,132 5,742,548 7,886,118 3,317,163 467,508

Supplementary information

Taxation paid2 ----- Interest received - 4,333 218 1,595 1,780 Interest paid (100,665) (36,320) (63,055) (18,971) (12,170) Dividend received - - 9,529 84,433 -

1 Cash and cash equivalents include cash at bank and bank overdrafts. 2 Withholding tax shown in the Statement of Comprehensive Income represents amounts paid for tax. NM ud Plc Funds ANIMA 3 This Fund launched during the financial year ended 31 December 2019.

The accompanying notes form an integral part of the Financial Statements. 123 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020

1. Significant Accounting Policies

ANIMA Funds Plc (“the Company”) is an open ended umbrella investment company with variable capital and segregated liability between Funds incorporated with limited liability in Ireland under the Companies Act, 2014 with registration number 308009 and registered office 78 Sir John Rogerson’s Quay, Dublin 2,Ireland.

a) Basis of preparation

These Financial Statements have been prepared on a going concern basis in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union (EU) and in accordance with the provisions of the Companies Act, 2014 and authorised by the Central Bank under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (as amended) (the “UCITS Regulations”) and under 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 significant accounting policies are set out below.

The preparation of Financial Statements in conformity with IFRS requires the use of certain critical estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the Financial Statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management’s best knowledge of the amount, event or actions, actual results ultimately may differ from those estimates.

International Financial Reporting Standards:

(i) New standards, amendments and interpretations issued and effective for the financial year beginning on or after 1 January 2020 and not early adopted

• Amendments to IAS 1 and IAS 8: Definition of Material, in October 2018, the IASB issued amendments to IAS 1 Presentation of Financial Statements and IAS 8 to align the definition of ‘material’ across the standards and to clarify certain aspects of the definition and is effective for accounting periods beginning on or after 1 January 2020. The new definition states that, ’Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.’ The amendments clarify that materiality will depend on the nature or magnitude of information, or both. An entity will need to assess whether the information, either individually or in combination with other information, is material in the context of the financial statements. The amendments must be applied prospectively. Early application is permitted and must be disclosed. The amendments to the definition of material is not expected to have a significant impact on an Company’s financial statements.

• Amendments to IFRS 9, IAS 39 and IFRS 7: Interest Rate Benchmark Reform, in September 2019, the IASB issued amendments to IFRS 9, IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures, which concludes phase one of its work to respond to the effects of Interbank Offered Rates (ЉIBORЉ) reform on financial reporting and is effective for accounting periods beginning on or after 1 January 2020. The amendments provide temporary reliefs which enable hedge accounting to continue during the period of uncertainty before the replacement of an existing interest rate benchmark with an alternative nearly risk-free interest rate. The amendments must be applied retrospectively. However, any hedge relationships that have previously been de-designated cannot be reinstated upon application, nor can any hedge relationships be designated with the benefit of hindsight. Early application is permitted and must be disclosed. The application of these amendments have no significant impact on the Company’s financial statements.

There are no other new standards, amendments or interpretations issued and effective for the financial year beginning 1 January 2020 that have a significant impact on the Company’s financial position, performance or disclosures in its financial statements.

(ii) New standards, amendments and interpretations issued but not effective for financial periods beginning on or after 1 January 2020 and not early adopted

• IFRS 17 “Insurance Contracts” was issued in May 2017 and will become effective for accounting periods beginning on or after 1 January 2023. It applies to: insurance contracts, including reinsurance contracts, issued by an entity; reinsurance contracts held by an entity; and investment contracts with discretionary participation features issued by an entity that issues insurance contracts. An insurance contract is defined as “a contract under

ANIMA Funds Plc 124 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

1. Significant Accounting Policies (continued)

a) Basis of preparation (continued)

(ii) New standards, amendments and interpretations issued but not effective for financial periods beginning on or after 1 January 2020 and not early adopted (continued)

which one party (the issuer) accepts significant insurance risk from another party (the policyholder) by agreeing to compensate the policyholder if a specified uncertain future event (the insured event) adversely affects the policyholder”. The new standard is not expected to have a significant impact on the Company’s financial position, performance or disclosures in its financial statements.

There are no other standards, interpretations or amendments to existing standards that are not yet effective that would be expected to have a significant impact on the Company.

b) Financial Instruments

(i) Classification

IFRS 9 sets out the requirements for recognition and measurement of all financial assets and financial liabilities including derivative instruments. The Company has classified all financial instruments as financial assets or financial liabilities at fair value through profit or loss. These include equity instruments, bonds, futures, exchange traded funds, forward contracts, equity swaps, portfolio swaps, interest rates swaps and coupon swaps. These assets are acquired principally for the purpose of generating a profit from short-term fluctuations in price. All derivatives and liabilities from short sales of financial instruments are classified as held for trading. The Company’s policy is not to apply hedge accounting.

Financial instruments at fair value through profit or loss include Investment Funds. These financial instruments are measured on the basis that their fair value can be reliably measured and their performance has been evaluated on a fair value basis in accordance with the risk management and/or investment strategy as set out in the Company’s offering document.

(ii) Recognition

All regular way purchases and sales of financial instruments are recognised on the trade date, which is the date that the Company commits to purchase or sell an asset. Regular way purchases or sales are purchases or sales of financial instruments that require delivery of assets within the period generally established by regulation or convention in the market place. Realised gains and losses on disposals of financial instruments are calculated using average cost method.

(iii) Derecognition

A financial asset (or, where applicable part of a financial asset or part of group of similar assets) is derecognised where;

• The rights to receive cash flows from the assets have been expired; or

• The Company transferred its rights to receive cash flows from assets or has assumed an obligation to pay the received cashflows in full without material delay to a third party under ‘pass through’ arrangements; or

• Either (a) the Company has transferred substantially all the risks and rewards of the assets, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the assets, but has transferred control of the asset.

When the Company has transferred its right to receive cash flows from an asset or has entered into a pass through arrangement and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognised to the extent of the Company’s continuing involvement in the asset. In that case, the Company also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the right and obligations that the Company has retained.

The Company derecognises a financial liability when the obligation specified in the contract is discharged, cancelled or expires.

ANIMA Funds Plc 125 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

1. Significant Accounting Policies (continued)

b) Financial Instruments (continued)

(iv) Initial Measurement

Financial instruments categorised at fair value through profit or loss are recognised initially at fair value, with transaction costs for such instruments being recognised directly in the Statement of Comprehensive Income.

(v) Subsequent measurement

After initial measurement, the Company measures financial instruments which are classified as at fair value through profit or loss at their fair values. Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction. The fair value of financial instruments is based on their quoted market price on a recognised exchange or sourced from a reputable broker/counterparty in the case of nonexchange traded instruments, at the statement of financial position date without any deduction for estimated future selling costs. Financial assets and financial liabilities are priced at their last traded prices.

If a quoted market price is not available on a recognised stock exchange or from a broker/counterparty, the fair value of the financial instruments may be estimated by the Company using valuation techniques, including the use of recent arm’s length market transactions, reference to the current fair value of another instrument that is substantially the same, discounted cashflow techniques, option pricing models or any other valuation technique that provides a reliable estimate of prices obtained in actual market transactions.

Where the Company has assets and liabilities with offsetting market risks, it uses mid-market prices as a basis for establishing fair values for the offsetting risk positions.

Investments in investment funds are recorded at the NAV per share as reported by the Administrator of such Funds at period end, as this is deemed by the Directors to approximate fair value for these investments.

If necessary, the Funds make adjustments to the NAV of various Investment funds based on their audited NAV versus dealing NAV to obtain the best estimates of fair value.

Subsequent changes in the fair value of financial instruments at fair value through profit or loss are recognised in the Statement of Comprehensive Income. Interest earned or incurred is accrued in interest income or expense, respectively, according to the terms of contract.

c) Offsetting Financial Instruments

Financial assets and liabilities are offset and the net amount reported in the statement of financial position where there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis, or realise the assets and settle the liability simultaneously. Refer to Note 3 on page 311 for further details of the Funds where Offsetting is applicable.

d) Cash and Cash Equivalents

Cash comprises current deposits with bank or Depositary and bank overdrafts. Cash equivalents are short-term highly liquid investments that are readily convertible to known amounts of cash, are subject to an insignificant risk of changes in value, and are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.

e) Income

(i) Bond income

Income earned arising on fixed interest securities and liquidity instruments is recognised on an effective yield basis. Bond income on securities classified as financial assets at fair value through profit or loss are accounted for through the Statement of Comprehensive Income under net gains/(losses) on financial assets and liabilities at fair value through profit and loss.

(ii) Dividend income

Dividends, gross of withholding taxes, where applicable, are included as income when the security is declared to be ex-dividend. Withholding tax is recorded separately in the Statement of Comprehensive Income.

ANIMA Funds Plc 126 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

1. Significant Accounting Policies (continued)

e) Income (continued)

(iii) Deposit interest

Deposit interest is accounted for on an accruals basis.

(iv) Investment Fund income

Investment fund income is derived from the underlying funds distributions and accounted for when announced by the underlying funds.

(v) Securities Lending income

Securities lending income is accounted for on an accruals basis.

(vi) Swap income

Swap income is calculated on a discounted cash flow basis. It is released from the swap on a quarterly basis to meet the expenses of the Company.

f) Fees and Charges

In accordance with the Prospectus, management fees, administration fees, Depositary fees and other operating expenses are charged to the Statement of Comprehensive Income on an accruals basis.

g) Derivative Instruments

Changes in the value of the derivatives are recognised as gains and losses by marking to market on a daily basis to reflect the value of the derivative at the end of each day’s trading. All listed derivatives are valued at official settlement price established each day on which they are traded. Non-listed derivative instruments are valued as per counterparty price. The Company’s investment therein, representing unrealised gain or loss on such contracts, is included in the Statement of Comprehensive Income within the Net gains/(losses) on financial assets and liabilities and on the Statement of Financial Position within financial assets at fair value through profit or loss and financial liabilities at fair value through profit or loss.

Typically, financial derivative instruments (“FDIs”) serve as components of the Company’s investment strategy and are utilised primarily to structure and economically hedge investments to enhance performance and reduce risk to the Company (the Company does not designate any FDIs as hedges for hedge accounting purposes as described under IFRS 9 Financial Instruments: Recognition and Measurement). The Company records its FDI activities on a mark to market basis. Fair values are determined using counterparty prices. For Over The Counter (“OTC”) FDIs, the Company may enter into master netting agreements with its counterparties, therefore, assets represent the Company’s unrealised gains, less unrealised losses for OTC FDI in which the Company has a master netting agreement. There is no netting in the Statement of Financial Position on any of the Funds. (Please refer to Note 3 for details).

h) Redeemable Participating Shares

Redeemable Participating Shares are redeemable at the Shareholder’s option and are classified as financial liabilities. These shares can be put back to the Company on any Dealing Day for cash equal to a proportionate share of the Fund’s net asset value.

i) Gains and Losses on Investments

Realised gains or losses on disposal of investments during the financial year and unrealised gains and losses on valuation of investments held at the financial year end are accounted for through the Statement of Comprehensive Income under net gains/(losses) on financial assets and liabilities at fair value through profit and loss.

j) Taxation

The Company is exempt from all forms of taxation in Ireland, including income, capital gains and withholding taxes. However, in some jurisdictions, investment income and capital gains are subject to withholding tax deducted at the source of the income. Withholding tax is a generic term used for the amount of withholding tax deducted at the source of

ANIMA Funds Plc 127 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

1. Significant Accounting Policies (continued)

j) Taxation (continued)

the income and is not significant for the Company. The Company presents the withholding tax separately from the gross investment income in the Statement of Comprehensive Income. For the purpose of the Statement of Cash Flows, cash inflows from investments are presented net of withholding taxes, when applicable.

k) Foreign Exchange

The functional and presentation currency of the Company is Euro. The Directors have determined that this reflects the Company’s primary economic environment, as the majority of the Company’s Net Assets Attributable to Holders of Redeemable Participating Shares are denominated in Euro.

Foreign exchange gains and losses on financial assets and financial liabilities at fair value through profit or loss are recognised together with other changes in the fair value. Net currency gains/(losses) as set out in Note 5, these include net foreign exchange gains and losses on monetary financial assets and liabilities other than those classified at fair value through profit or loss.

Assets and liabilities denominated in foreign currencies, other than the functional currency of the Company, have been translated at the rate of exchange ruling at 31 December 2020. Refer to Note 15 on page 489 for further details. Transactions in foreign currencies are translated into Euro at the exchange rate ruling at the date of the transaction. Gains and losses on foreign exchange transactions are recognised in the Statement of Comprehensive Income in determining the result for the financial year.

l) Distributions to Holders of Redeemable Participating Shares

Distributions to Holders of Redeemable Participating Shares are recognised as financial costs in the Statement of Comprehensive Income when declared to Holders of Redeemable Shares.

m) Collateral

The Company’s assets may be pledged as collateral to, and be held by a counterparty and/or brokers for open futures and swap contracts. A Fund may also receive collateral in the form of cash or stock from counterparties for derivative contracts. This collateral is held ultimately for the benefit of the Company’s trading counterparties, and therefore does not form part of the net assets of the relevant Fund.

n) Subscriber Shares

The Company’s Subscriber Shares are classified as equity in accordance with the Company’s Articles of Association. These shares do not participate in the profits of the Company.

o) Amounts due to/from broker

Amounts due from and amounts due to brokers represents cash held with brokers, for financial derivative contracts on the Statement of Financial Position date.

p) Options

Each Fund may purchase and sell (write) call and put options on securities, securities indices and foreign currencies traded on a national securities exchange or in an over-the-counter market.

When a Fund writes a call or a put option, a premium is received by the Fund. The premium is subsequently marked-to market to reflect the fair value of the option written, which is reported within financial assets or liabilities at fair value through profit or loss on the Statement of Financial Position for each relevant Fund. The difference between the premium amount and the fair value reported on the Statement of Financial Position gives rise to an unrealised gain (loss).

When a Fund purchases a call or a put option, a premium is paid by the Fund. The premium on purchased put options exercised is subtracted from the proceeds of the sale of the underlying security or foreign currency in determining the realised gain or loss. The premium on purchased call options exercised is included in determining initial fair value of the securities or foreign currency purchased. Premiums paid on the purchase of options which expire unexercised are treated as realised losses. The option is subsequently marked to market to reflect the fair value of the option purchased, which is reported within financial assets at fair value through profit or loss on the Statement of Financial Position for each relevant Fund. The over-the-counter options are valued at close of business on the dealing day at the settlement price as provided by the counterparty/broker and the values are independently valued, at a minimum, weekly. The fair value of exchange

ANIMA Funds Plc 128 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

1. Significant Accounting Policies (continued)

p) Options (continued)

traded options are based upon their quoted daily settlement prices on the relevant exchange. In the event of it being impossible or incorrect to carry out a valuation of a specific investment in accordance with the valuation rules, or if such valuation is not representative of a security’s fair market value, the Directors are entitled to use other generally recognised valuation methods in order to reach a proper valuation of that specific instrument, provided that such method of valuation has been approved by the Depositary.

If an option which a Fund has written either expires on its stipulated expiration date or a Fund enters into a closing purchase transaction, a Fund realises a gain (or loss, if the cost of a closing purchase transaction exceeds the premium received when the option was sold) without regard to any unrealised gain or loss on the underlying security, and the liability related to such option is extinguished. If a call option which a Fund has written is exercised, a Fund realises a capital gain or loss from the sale of the underlying security, and the proceeds from such sales are increased by the premium originally received. When a put option which a Fund has written is exercised, the amount of the premium originally received will reduce the cost of the security which a Fund purchases upon exercise of the option.

q) Futures Contracts

Initial margin deposits are made upon entering into futures contracts and are generally made in cash or cash equivalents. The fair value of futures contracts is based upon their current quoted daily settlement prices on the relevant exchange as of the Statement of Financial Position date under net gain/(losses) in the financial assets and liabilities at fair value through profit or loss. Changes in the value of open futures contracts are recognised as unrealised gains or losses on futures contracts until the contracts are terminated, at which time realised gains and losses are recognised. For each relevant Fund, gains or losses on open futures contracts are shown in the Schedule of Investments and as appropriate, on the Statement of Financial Position as financial assets or liabilities at fair value through profit or loss.

r) Forward and Spot Foreign Currency Exchange Contracts

The fair value of open forward foreign currency exchange contracts and open foreign currency exchange spot contracts is calculated as the difference between the contracted rate and the current forward rate that would close out the contract on the Statement of Financial Position date. For each relevant Fund, gains or losses on open foreign currency exchange spot contracts are included in cash at bank in the Statement of Financial Position and gains or losses on open forward foreign currency exchange contracts are included in financial assets or liabilities at fair value through profit or loss, as appropriate, on the Statement of Financial Position and Schedule of Investments.

s) Unfunded Swaps

Realised gains or losses depend on the prices used to value the underlying financial instruments within the swaps at the swaps’ settlement dates and are recorded as net realised gains or losses in the Statement of Comprehensive Income for each relevant Fund.

Unrealised gains or losses are fair valued for the amounts expected to be received or paid under the swap agreements if such amounts were terminated at the valuation date.

Unrealised gains or losses are recorded as investments held at fair value through profit or loss in the Statement of Financial Position and the resulting movements in the unrealised gains or losses are recorded as net gains or losses in financial assets and liabilities at fair value through profit or loss in the Statement of Comprehensive Income for each relevant Fund.

t) Funded Swaps

For funded swaps, there is a transfer of the notional amount on inception to the Approved Counterparties, the principal amounts will be returned on the maturity of the swap together with any mark to market value of the underlying index (equity, hedge fund, commodity or real estate).

Unrealised gains or losses are fair valued for the amounts expected to be received or paid under the swap agreements if such amounts were terminated at the valuation date.

Unrealised gains or losses are recorded as investments held at fair value through Profit or loss in the Statement of Financial Position and the resulting movements in the unrealised gains or losses are recorded as net gains or losses in financial assets and liabilities at fair value through profit or loss in the Statement of Comprehensive Income for each relevant Fund.

ANIMA Funds Plc 129 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

1. Significant Accounting Policies (continued)

u) Warrants

The valuation of the warrants depends on the level of trading. If the warrants are actively traded in the market then the market price is used. If the warrants are not actively traded in the market then either the intrinsic value of the warrant based on underlying equity price and warrant strike price or modified Black Scholes derived value, adjusted for liquidity/other risks deemed appropriate are used.

v) Total Return Swaps

A total return swap is an agreement in which one party makes payments based on a set rate, either fixed or variable, while the other party makes payments based on the return of an underlying asset, which includes both the income it generates and any capital gains. In total return swaps, the underlying asset, referred to as the reference asset, is usually a stock or fixed income index. This is owned by the party receiving the set rate payment. Total return swaps allow the party receiving the total return to gain exposure and benefit from a reference asset without actually having to own it. The fair value of these swaps is determined based on the mark to market valuation provided by the counterparty and validated by the Administrator. In determining the mark to market valuation, the counterparty makes assumptions that are based on market conditions existing on each Statement of Financial Position date and uses valuation techniques which include the use of comparable recent arm’s length transactions, discounted cash flow techniques, option pricing models and other valuation techniques commonly used by market participants. Movements in the fair value of swaps are recorded as unrealised gains or losses when marked to market, and are recorded as a realised gain or loss when the position is closed.

2. Fair Value of Financial Instruments

IFRS 13 requires disclosures relating to fair value measurements using a three-level fair value hierarchy. The level within which the fair value measurement is categorised in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement. Assessing the significance of a particular input requires judgement, considering factors specific to the asset or liability. The following table shows financial instruments recognised at fair value, categorised between those whose fair value is based on:

Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities;

Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable; and

Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

Inputs are used in applying the various valuation techniques and broadly refer to the assumptions that market participants use to make valuation decisions, including assumptions about risk. Inputs may include price information, volatility statistics, specific and broad credit data, liquidity statistics, and other factors. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. However, the determination of what constitutes “observable” requires significant judgement by the Company.

The Company considers observable data to be that market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. The categorisation of a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the Manager’s perceived risk of that instrument.

The Company uses widely recognised valuation models for determining fair values of over the counter derivatives. The most frequently applied techniques include forward pricing and swap models using present value calculations. The models incorporate various inputs including the credit quality of counterparties, foreign exchange spot and forward rates and interest rate curves. Where inputs in the models are market observable, such financial instruments are included within Level 2. For certain derivatives the valuation is carried out using counterparty prices.

The Company may invest in other Investment Funds from time to time. These investments are not quoted on an active market (with exception of exchange traded funds which are classified within Level 1) and which may be subject to restrictions such as lock up period, redemption gates and/or side pockets. Such investments are valued at the net asset value (NAV) per share published by the appointed third party administrator to those schemes. Such NAV’s may be

ANIMA Funds Plc 130 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

adjusted where necessary, to reflect the effect of time passed since the calculation date, liquidity risk, limitations on redemptions and other factors. Depending on the fair value of the underlying Fund’s assets and liabilities and on the adjustments needed to the NAV per share published by such scheme, the Company classifies the fair value of that investment as either Level 2 or Level 3.

Valuation Techniques

Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, Manager’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Manager uses prices and inputs that are current as of the measurement date, including periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many securities. This condition could cause a security to be reclassified to a higher level within the fair value hierarchy.

When fair values of listed equities as well as publicly traded derivatives at the reporting date are based on quoted market prices or binding dealer price quotations, without any deduction for transaction costs, the instruments are included within Level 1 of the hierarchy. When the Company has assets and liabilities with offsetting market risks, it uses last traded prices as a basis for establishing fair values for the off-setting risk positions.

The Company uses valuation models for determining fair values of OTC derivatives. For these financial instruments, inputs into models are market observable and are therefore included within Level 2. For certain derivatives the valuation is carried using counterparty prices.

On a day to day basis, counterparties provide the Administrator with mark to market valuations of their FDI. The Administrator will then compare these valuations against their own internal analysis, assessing the coherence of the variation against movements in market parameters. The Administrator was appointed by the Manager as the competent person to carry out such valuation reviews.

All structured products are valued using weighted average counterparty prices. Structured products refer to OTC FDI which include swaps, options and reverse triparty repurchase agreements held on Funds. The list of Funds’ investments can be viewed in the Schedule of Investments.

The following is a summary of the fair valuations according to the inputs as at 31 December 2020 and 31 December 2019 in valuing the Funds assets and liabilities:

There have been no transfers between level 1 and level 2 on any of the Funds during the current financial year and prior financial year under review.

ANIMA Liquidity Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 604,390,257 - - 604,390,257 Total Financial Assets at Fair Value Through Profit or Loss 604,390,257 - - 604,390,257

ANIMA Short Term Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 306,331,990 - - 306,331,990 Total Financial Assets at Fair Value Through Profit or Loss 306,331,990 - - 306,331,990

ANIMA Funds Plc 131 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Medium Term Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 397,171,967 - - 397,171,967 Total Financial Assets at Fair Value Through Profit or Loss 397,171,967 - - 397,171,967

ANIMA Bond Dollar Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 251,362,069 - - 251,362,069 Total Financial Assets at Fair Value Through Profit or Loss 251,362,069 - - 251,362,069

ANIMA Global Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR Government Bonds 147,289,551 - - 147,289,551 Total Financial Assets at Fair Value Through Profit or Loss 147,289,551 - - 147,289,551

ANIMA Short Term Corporate Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 44,482,011 - - 44,482,011 Corporate Bonds - 322,058,490 - 322,058,490 Derivatives: Forward Currency Contracts - 344,225 - 344,225 Total Financial Assets at Fair Value Through Profit or Loss 44,482,011 322,402,715 - 366,884,726

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (85,276) - (85,276) Total Financial Liabilities at Fair Value Through Profit or Loss - (85,276) - (85,276)

ANIMA Funds Plc 132 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Europe Equity Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 333,155,023 - - 333,155,023 Derivatives: Forward Currency Contracts - 1,193,506 - 1,193,506 Total Financial Assets at Fair Value Through Profit or Loss 333,155,023 1,193,506 - 334,348,529

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (471,299) - (471,299) Total Financial Liabilities at Fair Value Through Profit or Loss - (471,299) - (471,299)

ANIMA U.S. Equity Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 345,887,508 - - 345,887,508 Derivatives: Forward Currency Contracts - 1,779,584 - 1,779,584 Total Financial Assets at Fair Value Through Profit or Loss 345,887,508 1,779,584 - 347,667,092

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (1,680,165) - (1,680,165) Total Financial Liabilities at Fair Value Through Profit or Loss - (1,680,165) - (1,680,165)

ANIMA Asia/Pacific Equity Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds 4,068,594 - - 4,068,594 Equities 53,616,233 - - 53,616,233 Derivatives: Futures Contracts 80,308 - - 80,308 Total Financial Assets at Fair Value Through Profit or Loss 57,765,135 - - 57,765,135

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (5,676) - - (5,676) Total Financial Liabilities at Fair Value Through Profit or Loss (5,676) - - (5,676)

ANIMA Funds Plc 133 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Global Equity Value Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 29,870,707 - - 29,870,707 Rights/Warrants 9,544 - - 9,544 Derivatives: Forward Currency Contracts - 465,969 - 465,969 Total Financial Assets at Fair Value Through Profit or Loss 29,880,251 465,969 - 30,346,220

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (578,500) - (578,500) Total Financial Liabilities at Fair Value Through Profit or Loss - (578,500) - (578,500)

ANIMA Emerging Markets Equity Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 1,106,265 - - 1,106,265 Investment Funds 1,595,967 - - 1,595,967 Equities 37,350,235 - 1,979 37,352,214 Derivatives: Futures Contracts 371,486 - - 371,486 Forward Currency Contracts - 44,974 - 44,974 Total Financial Assets at Fair Value Through Profit or Loss 40,423,953 44,974 1,979 40,470,906

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (10,472) - (10,472) Total Financial Liabilities at Fair Value Through Profit or Loss - (10,472) - (10,472)

ANIMA Global Selection Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 10,077,266 - - 10,077,266 Derivatives: Forward Currency Contracts - 6,796 - 6,796 Total Financial Assets at Fair Value Through Profit or Loss 10,077,266 6,796 - 10,084,062

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (460) - (460) Total Financial Liabilities at Fair Value Through Profit or Loss - (460) - (460)

ANIMA Funds Plc 134 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Euro Equity Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 109,307,452 - - 109,307,452 Rights/Warrants 19,088 - - 19,088 Derivatives: Forward Currency Contracts - 24,399 - 24,399 Total Financial Assets at Fair Value Through Profit or Loss 109,326,540 24,399 - 109,350,939

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (52,370) - (52,370) Total Financial Liabilities at Fair Value Through Profit or Loss - (52,370) - (52,370)

ANIMA Global Currencies Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 4,477,171 - - 4,477,171 Derivatives: Forward Currency Contracts - 38,420 - 38,420 Total Financial Assets at Fair Value Through Profit or Loss 4,477,171 38,420 - 4,515,591

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (11,853) - (11,853) Total Financial Liabilities at Fair Value Through Profit or Loss - (11,853) - (11,853)

ANIMA Variable Rate Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 23,309,623 - - 23,309,623 Derivatives: Futures Contracts 750 - - 750 Total Financial Assets at Fair Value Through Profit or Loss 23,310,373 - - 23,310,373

ANIMA Funds Plc 135 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Hybrid Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Corporate Bonds - 87,841,453 - 87,841,453 Derivatives: Forward Currency Contracts - 212,951 - 212,951 Total Financial Assets at Fair Value Through Profit or Loss - 88,054,404 - 88,054,404

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (22,553) - (22,553) Total Financial Liabilities at Fair Value Through Profit or Loss - (22,553) - (22,553)

ANIMA Euro Government Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 132,301,120 - - 132,301,120 Corporate Bonds - 27,567,073 - 27,567,073 Derivatives: Futures Contracts 27,000 - - 27,000 Total Financial Assets at Fair Value Through Profit or Loss 132,328,120 27,567,073 - 159,895,193

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (90,291) - - (90,291) Total Financial Liabilities at Fair Value Through Profit or Loss (90,291) - - (90,291)

ANIMA Star High Potential Europe Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 227,895,650 - - 227,895,650 Equities 491,994,044 - - 491,994,044 Derivatives: Futures Contracts 35,550 - - 35,550 Forward Currency Contracts - 3,390,367 - 3,390,367 Total Financial Assets at Fair Value Through Profit or Loss 719,925,244 3,390,367 - 723,315,611

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (1,294,498) - - (1,294,498) Forward Currency Contracts - (3,858,050) - (3,858,050) Total Financial Liabilities at Fair Value Through Profit or Loss (1,294,498) (3,858,050) - (5,152,548)

ANIMA Funds Plc 136 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Star Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 217,117,928 - - 217,117,928 Corporate Bonds - 3,613,591 - 3,613,591 Derivatives: Futures Contracts 87,995 - - 87,995 Forward Currency Contracts - 762,833 - 762,833 Total Financial Assets at Fair Value Through Profit or Loss 217,205,923 4,376,424 - 221,582,347

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (94,500) - - (94,500) Total Financial Liabilities at Fair Value Through Profit or Loss (94,500) - - (94,500)

ANIMA Smart Volatility Europe Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 10,689,521 - - 10,689,521 Derivatives: Futures Contracts 66,631 - - 66,631 Total Financial Assets at Fair Value Through Profit or Loss 10,756,152 - - 10,756,152

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (13,864) - - (13,864) Total Financial Liabilities at Fair Value Through Profit or Loss (13,864) - - (13,864)

ANIMA Smart Volatility Global Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 137,189,828 - - 137,189,828 Derivatives: Futures Contracts 1,627,793 - - 1,627,793 Total Financial Assets at Fair Value Through Profit or Loss 138,817,621 - - 138,817,621

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (12,379) - - (12,379) Total Financial Liabilities at Fair Value Through Profit or Loss (12,379) - - (12,379)

ANIMA Funds Plc 137 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Smart Volatility Italy Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 12,264,817 - - 12,264,817 Derivatives: Futures Contracts 90,620 - - 90,620 Total Financial Assets at Fair Value Through Profit or Loss 12,355,437 - - 12,355,437

ANIMA Smart Volatility USA Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 68,982,728 - - 68,982,728 Derivatives: Futures Contracts 920,177 - - 920,177 Total Financial Assets at Fair Value Through Profit or Loss 69,902,905 - - 69,902,905

ANIMA Smart Volatility Emerging Markets Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 92,495,550 - - 92,495,550 Derivatives: Futures Contracts 1,044,720 - - 1,044,720 Total Financial Assets at Fair Value Through Profit or Loss 93,540,270 - - 93,540,270

ANIMA Credit Opportunities Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 40,495,776 - - 40,495,776 Corporate Bonds - 279,654,850 - 279,654,850 Derivatives: Forward Currency Contracts - 428,689 - 428,689 Total Financial Assets at Fair Value Through Profit or Loss 40,495,776 280,083,539 - 320,579,315

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (29,471) - (29,471) Total Financial Liabilities at Fair Value Through Profit or Loss - (29,471) - (29,471)

ANIMA Funds Plc 138 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Star High Potential Italy Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 6,360,947 - - 6,360,947 Corporate Bonds - 1,444,556 - 1,444,556 Investment Funds - 882,319 - 882,319 Equities 7,310,973 - - 7,310,973 Rights/Warrants 4,256 - - 4,256 Derivatives: Futures Contracts 45,760 - - 45,760 Total Financial Assets at Fair Value Through Profit or Loss 13,721,936 2,326,875 - 16,048,811

ANIMA Trading Fund^ Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 17,551,039 - - 17,551,039 Equities 57,182,221 - - 57,182,221 Derivatives: Forward Currency Contracts - 1,318,265 - 1,318,265 Total Financial Assets at Fair Value Through Profit or Loss 74,733,260 1,318,265 - 76,051,525

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (305,776) - (305,776) Total Financial Liabilities at Fair Value Through Profit or Loss - (305,776) - (305,776)

^ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Active Selection Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds* - 18,904,248 - 18,904,248 Total Financial Assets at Fair Value Through Profit or Loss - 18,904,248 - 18,904,248

*The indicated holdings include cross holdings in the ANIMA Funds Plc.

ANIMA Smart Dividends Europe Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 4,334,189 - - 4,334,189 Equities 7,898,819 - - 7,898,819 Total Financial Assets at Fair Value Through Profit or Loss 12,233,008 - - 12,233,008

ANIMA Funds Plc 139 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Flexible Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 19,521,333 - - 19,521,333 Corporate Bonds - 16,445,789 - 16,445,789 Derivatives: Futures Contracts 28,600 - - 28,600 Forward Currency Contracts - 82,381 - 82,381 Total Financial Assets at Fair Value Through Profit or Loss 19,549,933 16,528,170 - 36,078,103

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (23,120) - - (23,120) Forward Currency Contracts - (190,060) - (190,060) Total Financial Liabilities at Fair Value Through Profit or Loss (23,120) (190,060) - (213,180)

ANIMA Solution 2022-I Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 19,366,977 - - 19,366,977 Corporate Bonds - 7,023,510 - 7,023,510 Investment Funds 2,510,066 2,152,808 - 4,662,874 Total Financial Assets at Fair Value Through Profit or Loss 21,877,043 9,176,318 - 31,053,361

ANIMA Solution 2022-II Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 7,941,250 - - 7,941,250 Corporate Bonds - 3,859,108 - 3,859,108 Investment Funds* 1,028,540 1,313,537 - 2,342,077 Total Financial Assets at Fair Value Through Profit or Loss 8,969,790 5,172,645 - 14,142,435

*The indicated holdings include cross holdings in the ANIMA Funds Plc.

ANIMA Solution 2022-III Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 11,512,504 - - 11,512,504 Corporate Bonds - 5,381,877 - 5,381,877 Investment Funds* 3,481,753 1,026,678 - 4,508,431 Total Financial Assets at Fair Value Through Profit or Loss 14,994,257 6,408,555 - 21,402,812

*The indicated holdings include cross holdings in the ANIMA Funds Plc.

ANIMA Funds Plc 140 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Solution 2023-I Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds* 756,167 35,152,228 - 35,908,395 Total Financial Assets at Fair Value Through Profit or Loss 756,167 35,152,228 - 35,908,395

*The indicated holdings include cross holdings in the ANIMA Funds Plc.

ANIMA Solution EM Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds* 2,837,599 27,434,895 - 30,272,494 Total Financial Assets at Fair Value Through Profit or Loss 2,837,599 27,434,895 - 30,272,494

*The indicated holdings include cross holdings in the ANIMA Funds Plc.

ANIMA Italian Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 31,707,755 - - 31,707,755 Derivatives: Futures Contracts 450 - - 450 Total Financial Assets at Fair Value Through Profit or Loss 31,708,205 - - 31,708,205

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (9,118) - - (9,118) Total Financial Liabilities at Fair Value Through Profit or Loss (9,118) - - (9,118)

ANIMA Italian Equity Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds 44,525 - - 44,525 Equities 15,504,627 - - 15,504,627 Total Financial Assets at Fair Value Through Profit or Loss 15,549,152 - - 15,549,152

ANIMA Funds Plc 141 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA High Yield Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Corporate Bonds - 17,330,053 - 17,330,053 Equities 3,775 - - 3,775 Derivatives: Forward Currency Contracts - 16,800 - 16,800 Total Financial Assets at Fair Value Through Profit or Loss 3,775 17,346,853 - 17,350,628

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (2,676) - (2,676) Total Financial Liabilities at Fair Value Through Profit or Loss - (2,676) - (2,676)

ANIMA Bond 2022 Opportunities Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Corporate Bonds - 45,631,324 - 45,631,324 Derivatives: Forward Currency Contracts - 63,983 - 63,983 Total Financial Assets at Fair Value Through Profit or Loss - 45,695,307 - 45,695,307

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (15,879) - (15,879) Total Financial Liabilities at Fair Value Through Profit or Loss - (15,879) - (15,879)

ANIMA Global Macro Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 155,461,404 - - 155,461,404 Investment Funds 22,428,973 1,195,222 - 23,624,195 Derivatives: Futures Contracts 1,457,782 - - 1,457,782 Forward Currency Contracts - 2,578,393 - 2,578,393 Total Financial Assets at Fair Value Through Profit or Loss 179,348,159 3,773,615 - 183,121,774

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (159,130) - - (159,130) Forward Currency Contracts - (1,557,638) - (1,557,638) Total Financial Liabilities at Fair Value Through Profit or Loss (159,130) (1,557,638) - (1,716,768)

ANIMA Funds Plc 142 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview 2023-I Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 29,308,427 - - 29,308,427 Rights/Warrants 12,605 - - 12,605 Total Financial Assets at Fair Value Through Profit or Loss 29,321,032 - - 29,321,032

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (1,973,939) - (1,973,939) Total Financial Liabilities at Fair Value Through Profit or Loss - (1,973,939) - (1,973,939)

ANIMA Brightview 2023-II Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 129,465,756 - - 129,465,756 Derivatives: Swaps - 5,150,321 - 5,150,321 Total Financial Assets at Fair Value Through Profit or Loss 129,465,756 5,150,321 - 134,616,077

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (12,532,948) - (12,532,948) Total Financial Liabilities at Fair Value Through Profit or Loss - (12,532,948) - (12,532,948)

ANIMA Brightview 2023-III Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 41,201,716 - - 41,201,716 Derivatives: Swaps - 2,064,165 - 2,064,165 Total Financial Assets at Fair Value Through Profit or Loss 41,201,716 2,064,165 - 43,265,881

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (5,048,809) - (5,048,809) Total Financial Liabilities at Fair Value Through Profit or Loss - (5,048,809) - (5,048,809)

ANIMA Funds Plc 143 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview 2023-IV Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 59,439,341 - - 59,439,341 Derivatives: Swaps - 1,402,937 - 1,402,937 Total Financial Assets at Fair Value Through Profit or Loss 59,439,341 1,402,937 - 60,842,278

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (8,453,582) - (8,453,582) Total Financial Liabilities at Fair Value Through Profit or Loss - (8,453,582) - (8,453,582)

ANIMA Brightview 2024-I Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 77,758,533 - - 77,758,533 Derivatives: Swaps - 2,979,592 - 2,979,592 Total Financial Assets at Fair Value Through Profit or Loss 77,758,533 2,979,592 - 80,738,125

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (12,260,232) - (12,260,232) Total Financial Liabilities at Fair Value Through Profit or Loss - (12,260,232) - (12,260,232)

ANIMA Brightview 2024-II Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 100,223,848 - - 100,223,848 Derivatives: Swaps - 2,310,406 - 2,310,406 Total Financial Assets at Fair Value Through Profit or Loss 100,223,848 2,310,406 - 102,534,254

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (15,795,468) - (15,795,468) Total Financial Liabilities at Fair Value Through Profit or Loss - (15,795,468) - (15,795,468)

ANIMA Funds Plc 144 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview 2024-III Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 103,636,114 - - 103,636,114 Derivatives: Swaps - 8,652,568 - 8,652,568 Total Financial Assets at Fair Value Through Profit or Loss 103,636,114 8,652,568 - 112,288,682

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (15,403,953) - (15,403,953) Total Financial Liabilities at Fair Value Through Profit or Loss - (15,403,953) - (15,403,953)

ANIMA Brightview 2024-IV Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 107,024,583 - - 107,024,583 Derivatives: Swaps - 7,451,019 - 7,451,019 Total Financial Assets at Fair Value Through Profit or Loss 107,024,583 7,451,019 - 114,475,602

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (14,914,607) - (14,914,607) Total Financial Liabilities at Fair Value Through Profit or Loss - (14,914,607) - (14,914,607)

ANIMA Brightview 2024-V Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 126,189,843 - - 126,189,843 Derivatives: Swaps - 16,044,136 - 16,044,136 Total Financial Assets at Fair Value Through Profit or Loss 126,189,843 16,044,136 - 142,233,979

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (18,691,096) - (18,691,096) Total Financial Liabilities at Fair Value Through Profit or Loss - (18,691,096) - (18,691,096)

ANIMA Funds Plc 145 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview 2025-I Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 272,828,433 - - 272,828,433 Derivatives: Swaps - 16,492,052 - 16,492,052 Total Financial Assets at Fair Value Through Profit or Loss 272,828,433 16,492,052 - 289,320,485

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (47,167,059) - (47,167,059) Total Financial Liabilities at Fair Value Through Profit or Loss - (47,167,059) - (47,167,059)

ANIMA Brightview 2027-I Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 106,893,214 - - 106,893,214 Derivatives: Swaps - 17,108,978 - 17,108,978 Total Financial Assets at Fair Value Through Profit or Loss 106,893,214 17,108,978 - 124,002,192

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (20,450,601) - (20,450,601) Total Financial Liabilities at Fair Value Through Profit or Loss - (20,450,601) - (20,450,601)

ANIMA Brightview-II Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 75,963,054 - - 75,963,054 Derivatives: Swaps - 2,976,238 - 2,976,238 Total Financial Assets at Fair Value Through Profit or Loss 75,963,054 2,976,238 - 78,939,292

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (15,274,690) - (15,274,690) Total Financial Liabilities at Fair Value Through Profit or Loss - (15,274,690) - (15,274,690)

ANIMA Funds Plc 146 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview-III Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 72,714,419 - - 72,714,419 Derivatives: Swaps - 3,750,447 - 3,750,447 Total Financial Assets at Fair Value Through Profit or Loss 72,714,419 3,750,447 - 76,464,866

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (14,625,751) - (14,625,751) Total Financial Liabilities at Fair Value Through Profit or Loss - (14,625,751) - (14,625,751)

ANIMA Brightview-IV Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 88,421,266 - - 88,421,266 Derivatives: Swaps - 5,817,476 - 5,817,476 Total Financial Assets at Fair Value Through Profit or Loss 88,421,266 5,817,476 - 94,238,742

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (16,863,315) - (16,863,315) Total Financial Liabilities at Fair Value Through Profit or Loss - (16,863,315) - (16,863,315)

ANIMA Brightview-V Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 42,575,990 - - 42,575,990 Derivatives: Swaps - 3,126,869 - 3,126,869 Total Financial Assets at Fair Value Through Profit or Loss 42,575,990 3,126,869 - 45,702,859

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (7,897,948) - (7,897,948) Total Financial Liabilities at Fair Value Through Profit or Loss - (7,897,948) - (7,897,948)

ANIMA Funds Plc 147 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview-VI Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 228,540,440 - - 228,540,440 Derivatives: Swaps - 18,178,652 - 18,178,652 Total Financial Assets at Fair Value Through Profit or Loss 228,540,440 18,178,652 - 246,719,092

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (39,911,158) - (39,911,158) Total Financial Liabilities at Fair Value Through Profit or Loss - (39,911,158) - (39,911,158)

ANIMA Brightview-VII Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 88,719,702 - - 88,719,702 Derivatives: Swaps - 3,446,956 - 3,446,956 Total Financial Assets at Fair Value Through Profit or Loss 88,719,702 3,446,956 - 92,166,658

Financial Liabilities at fair value through profit or loss Derivatives: Swaps -(1)-(1) Total Financial Liabilities at Fair Value Through Profit or Loss -(1)-(1)

ANIMA Brightview-VIII Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 230,380 - - 230,380 Derivatives: Swaps -8 -8 Total Financial Assets at Fair Value Through Profit or Loss 230,380 8 - 230,388

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (11) - (11) Total Financial Liabilities at Fair Value Through Profit or Loss - (11) - (11)

ANIMA Funds Plc 148 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Orizzonte Europa 2022 Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 31,039,993 - - 31,039,993 Corporate Bonds - 774,554 - 774,554 Investment Funds - 2,879,111 - 2,879,111 Derivatives: Swaps - 609,883 - 609,883 Total Financial Assets at Fair Value Through Profit or Loss 31,039,993 4,263,548 - 35,303,541

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (4,467,452) - (4,467,452) Total Financial Liabilities at Fair Value Through Profit or Loss - (4,467,452) - (4,467,452)

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 34,979,598 - - 34,979,598 Corporate Bonds - 734,673 - 734,673 Investment Funds - 3,160,672 - 3,160,672 Derivatives: Swaps - 939,355 - 939,355 Total Financial Assets at Fair Value Through Profit or Loss 34,979,598 4,834,700 - 39,814,298

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (6,248,139) - (6,248,139) Total Financial Liabilities at Fair Value Through Profit or Loss - (6,248,139) - (6,248,139)

ANIMA Orizzonte Sostenibile 2023 Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 242,843,767 - - 242,843,767 Derivatives: Swaps - 1,089,831 - 1,089,831 Total Financial Assets at Fair Value Through Profit or Loss 242,843,767 1,089,831 - 243,933,598

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (35,781,180) - (35,781,180) Total Financial Liabilities at Fair Value Through Profit or Loss - (35,781,180) - (35,781,180)

ANIMA Funds Plc 149 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Orizzonte Benessere 2023 Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 301,724,123 - - 301,724,123 Derivatives: Swaps - 12,028,924 - 12,028,924 Total Financial Assets at Fair Value Through Profit or Loss 301,724,123 12,028,924 - 313,753,047

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (54,013,522) - (54,013,522) Total Financial Liabilities at Fair Value Through Profit or Loss - (54,013,522) - (54,013,522)

ANIMA Orizzonte Consumi 2023 Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 24,238,379 - - 24,238,379 Derivatives: Swaps - 1,729,052 - 1,729,052 Total Financial Assets at Fair Value Through Profit or Loss 24,238,379 1,729,052 - 25,967,431

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (4,468,605) - (4,468,605) Total Financial Liabilities at Fair Value Through Profit or Loss - (4,468,605) - (4,468,605)

ANIMA Orizzonte Energia 2023 Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 78,752,935 - - 78,752,935 Derivatives: Swaps - 10,373,801 - 10,373,801 Total Financial Assets at Fair Value Through Profit or Loss 78,752,935 10,373,801 - 89,126,736

Financial Liabilities at fair value through profit or loss Derivatives: Swaps - (13,179,705) - (13,179,705) Total Financial Liabilities at Fair Value Through Profit or Loss - (13,179,705) - (13,179,705)

ANIMA Funds Plc 150 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Defensive Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds* - 48,883,034 - 48,883,034 Total Financial Assets at Fair Value Through Profit or Loss - 48,883,034 - 48,883,034

*The indicated holdings include cross holdings in the ANIMA Funds Plc.

ANIMA Zephyr Global Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 38,205,428 - - 38,205,428 Total Financial Assets at Fair Value Through Profit or Loss 38,205,428 - - 38,205,428

ANIMA Zephyr Global Allocation Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 49,829,986 - - 49,829,986 Investment Funds 3,913,994 - - 3,913,994 Derivatives: Futures Contracts 4,420 - - 4,420 Total Financial Assets at Fair Value Through Profit or Loss 53,748,400 - - 53,748,400

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (2,373) - - (2,373) Total Financial Liabilities at Fair Value Through Profit or Loss (2,373) - - (2,373)

ANIMA Zephyr New Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 16,754,981 - - 16,754,981 Investment Funds 3,159,394 - - 3,159,394 Derivatives: Futures Contracts 9,070 - - 9,070 Total Financial Assets at Fair Value Through Profit or Loss 19,923,445 - - 19,923,445

ANIMA Funds Plc 151 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Zephyr Real Assets Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 22,280,922 - - 22,280,922 Investment Funds 1,645,267 - - 1,645,267 Derivatives: Futures Contracts 93,498 - - 93,498 Total Financial Assets at Fair Value Through Profit or Loss 24,019,687 - - 24,019,687

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (6,412) - - (6,412) Total Financial Liabilities at Fair Value Through Profit or Loss (6,412) - - (6,412)

ANIMA International Bond Level 1 Level 2 Level 3 Total As at 31 December 2020 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 28,338,411 - - 28,338,411 Derivatives: Futures Contracts 1,342 - - 1,342 Forward Currency Contracts - 54,679 - 54,679 Total Financial Assets at Fair Value Through Profit or Loss 28,339,753 54,679 - 28,394,432

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (4,152) - - (4,152) Forward Currency Contracts - (51,992) - (51,992) Total Financial Liabilities at Fair Value Through Profit or Loss (4,152) (51,992) - (56,144)

The following is a summary of the fair valuations according to the inputs as at 31 December 2019 in valuing the Funds’ assets and liabilities:

ANIMA Liquidity Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 376,549,467 - - 376,549,467 Total Financial Assets at Fair Value Through Profit or Loss 376,549,467 - - 376,549,467

ANIMA Funds Plc 152 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Short Term Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 142,435,661 - - 142,435,661 Total Financial Assets at Fair Value Through Profit or Loss 142,435,661 - - 142,435,661

ANIMA Medium Term Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 385,844,091 - - 385,844,091 Total Financial Assets at Fair Value Through Profit or Loss 385,844,091 - - 385,844,091

ANIMA Bond Dollar Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 161,911,693 - - 161,911,693 Total Financial Assets at Fair Value Through Profit or Loss 161,911,693 - - 161,911,693

ANIMA Global Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 163,638,023 - - 163,638,023 Total Financial Assets at Fair Value Through Profit or Loss 163,638,023 - - 163,638,023

ANIMA Life Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 168,686,899 - - 168,686,899 Corporate Bonds - 63,503,613 - 63,503,613 Total Financial Assets at Fair Value Through Profit or Loss 168,686,899 63,503,613 - 232,190,512

ANIMA Funds Plc 153 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Short Term Corporate Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 69,643,902 - - 69,643,902 Corporate Bonds - 262,399,808 - 262,399,808 Derivatives: Forward Currency Contracts - 340,432 - 340,432 Total Financial Assets at Fair Value Through Profit or Loss 69,643,902 262,740,240 - 332,384,142

Corporate Bonds ----

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (664,304) - (664,304) Total Financial Liabilities at Fair Value Through Profit or Loss - (664,304) - (664,304)

ANIMA Europe Equity Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds - 1,613,340 - 1,613,340 Equities 342,714,121 - - 342,714,121 Derivatives: Futures Contracts 67,826 - - 67,826 Forward Currency Contracts - 3,179,784 - 3,179,784 Rights/Warrants 62,202 - - 62,202 Total Financial Assets at Fair Value Through Profit or Loss 342,844,149 4,793,124 - 347,637,273

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (1,736,536) - (1,736,536) Total Financial Liabilities at Fair Value Through Profit or Loss - (1,736,536) - (1,736,536)

ANIMA U.S. Equity Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 249,241,548 - - 249,241,548 Derivatives: Futures Contracts 232,510 - - 232,510 Forward Currency Contracts - 502,914 - 502,914 Total Financial Assets at Fair Value Through Profit or Loss 249,474,058 502,914 - 249,976,972

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (525,769) - (525,769) Total Financial Liabilities at Fair Value Through Profit or Loss - (525,769) - (525,769)

ANIMA Funds Plc 154 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Asia/Pacific Equity Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds 1,188,450 - - 1,188,450 Equities 49,764,908 - - 49,764,908 Derivatives: Futures Contracts 6,689 - - 6,689 Forward Currency Contracts - 21,056 - 21,056 Total Financial Assets at Fair Value Through Profit or Loss 50,960,047 21,056 - 50,981,103

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (96,779) - - (96,779) Total Financial Liabilities at Fair Value Through Profit or Loss (96,779) - - (96,779)

ANIMA Global Equity

ANIMA Global Equity Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 44,610,163 - - 44,610,163 Derivatives: Forward Currency Contracts - 310,934 - 310,934 Rights/Warrants 28,592 - - 28,592 Total Financial Assets at Fair Value Through Profit or Loss 44,638,755 310,934 - 44,949,689

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (323,846) - (323,846) Total Financial Liabilities at Fair Value Through Profit or Loss - (323,846) - (323,846)

ANIMA Funds Plc 155 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Emerging Markets Equity Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 1,900,140 - - 1,900,140 Investment Funds 3,401,625 - - 3,401,625 Equities 34,454,502 - 2,026 34,456,528 Derivatives: Futures Contracts 96,640 - - 96,640 Total Financial Assets at Fair Value Through Profit or Loss 39,852,907 - 2,026 39,854,933

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (2,993) - - (2,993) Forward Currency Contracts - (766) - (766) Total Financial Liabilities at Fair Value Through Profit or Loss (2,993) (766) - (3,759)

ANIMA Euro Equity Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 96,947,962 - - 96,947,962 Derivatives: Forward Currency Contracts - 13,427 - 13,427 Rights/Warrants 44,385 - - 44,385 Total Financial Assets at Fair Value Through Profit or Loss 96,992,347 13,427 - 97,005,774

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (40,236) - (40,236) Total Financial Liabilities at Fair Value Through Profit or Loss - (40,236) - (40,236)

ANIMA Global Currencies Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 5,255,930 - - 5,255,930 Derivatives: Forward Currency Contracts - 58,177 - 58,177 Total Financial Assets at Fair Value Through Profit or Loss 5,255,930 58,177 - 5,314,107

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (77,225) - (77,225) Total Financial Liabilities at Fair Value Through Profit or Loss - (77,225) - (77,225)

ANIMA Funds Plc 156 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Variable Rate Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 26,322,073 - - 26,322,073 Derivatives: Futures Contracts 11,850 - - 11,850 Total Financial Assets at Fair Value Through Profit or Loss 26,333,923 - - 26,333,923

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (1,400) - - (1,400) Total Financial Liabilities at Fair Value Through Profit or Loss (1,400) - - (1,400)

ANIMA Hybrid Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Corporate Bonds - 82,909,090 - 82,909,090 Derivatives: Forward Currency Contracts - 84,976 - 84,976 Total Financial Assets at Fair Value Through Profit or Loss - 82,994,066 - 82,994,066

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (189,909) - (189,909) Total Financial Liabilities at Fair Value Through Profit or Loss - (189,909) - (189,909)

ANIMA Euro Government Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 193,173,940 - - 193,173,940 Corporate Bonds - 41,983,787 - 41,983,787 Investment Funds 773,032 - - 773,032 Derivatives: Futures Contracts 41,800 - - 41,800 Forward Currency Contracts - 210,327 - 210,327 Total Financial Assets at Fair Value Through Profit or Loss 193,988,772 42,194,114 - 236,182,886

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (86,412) - - (86,412) Forward Currency Contracts - (103,352) - (103,352) Total Financial Liabilities at Fair Value Through Profit or Loss (86,412) (103,352) - (189,764)

ANIMA Funds Plc 157 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Star High Potential Europe Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 187,247,316 - - 187,247,316 Equities 348,038,953 - - 348,038,953 Derivatives: Futures Contracts 15,332 - - 15,332 Forward Currency Contracts - 165,155 - 165,155 Total Return Swaps - 306 - 306 Total Financial Assets at Fair Value Through Profit or Loss 535,301,601 165,461 - 535,467,062

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (74,372) - - (74,372) Forward Currency Contracts - (3,136,365) - (3,136,365) Total Financial Liabilities at Fair Value Through Profit or Loss (74,372) (3,136,365) - (3,210,737)

ANIMA Star Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 174,601,400 - - 174,601,400 Corporate Bonds - 45,836,057 - 45,836,057 Investment Funds 9,621,887 - - 9,621,887 Derivatives: Futures Contracts 786,830 - - 786,830 Forward Currency Contracts - 5,928,789 - 5,928,789 Total Financial Assets at Fair Value Through Profit or Loss 185,010,117 51,764,846 - 236,774,963

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (25,547) - - (25,547) Forward Currency Contracts - (3,471,035) - (3,471,035) Total Financial Liabilities at Fair Value Through Profit or Loss (25,547) (3,471,035) - (3,496,582)

ANIMA Funds Plc 158 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Smart Volatility Europe Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 13,261,520 - - 13,261,520 Derivatives: Futures Contracts 32,921 - - 32,921 Total Financial Assets at Fair Value Through Profit or Loss 13,294,441 - - 13,294,441

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (23,040) - - (23,040) Total Financial Liabilities at Fair Value Through Profit or Loss (23,040) - - (23,040)

ANIMA Smart Volatility Global Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 103,726,675 - - 103,726,675 Derivatives: Futures Contracts 643,290 - - 643,290 Total Financial Assets at Fair Value Through Profit or Loss 104,369,965 - - 104,369,965

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (30,180) - - (30,180) Total Financial Liabilities at Fair Value Through Profit or Loss (30,180) - - (30,180)

ANIMA Smart Volatility Italy Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 15,726,143 - - 15,726,143 Derivatives: Options Purchased - 50,320 - 50,320 Total Financial Assets at Fair Value Through Profit or Loss 15,726,143 50,320 - 15,776,463

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (76,500) - - (76,500) Options Written - (6,120) - (6,120) Total Financial Liabilities at Fair Value Through Profit or Loss (76,500) (6,120) - (82,620)

ANIMA Funds Plc 159 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Smart Volatility USA Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 41,297,184 - - 41,297,184 Derivatives: Futures Contracts 368,664 - - 368,664 Total Financial Assets at Fair Value Through Profit or Loss 41,665,848 - - 41,665,848

ANIMA Smart Volatility Emerging Markets Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 13,068,077 - - 13,068,077 Derivatives: Futures Contracts 122,100 - - 122,100 Total Financial Assets at Fair Value Through Profit or Loss 13,190,177 - - 13,190,177

ANIMA Credit Opportunities Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 43,350,637 - - 43,350,637 Corporate Bonds - 210,973,432 - 210,973,432 Derivatives: Forward Currency Contracts - 297,928 - 297,928 Total Financial Assets at Fair Value Through Profit or Loss 43,350,637 211,271,360 - 254,621,997

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (474,445) - (474,445) Total Financial Liabilities at Fair Value Through Profit or Loss - (474,445) - (474,445)

ANIMA Funds Plc 160 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Star High Potential Italy Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 15,215,961 - - 15,215,961 Corporate Bonds - 1,794,361 - 1,794,361 Equities 11,994,291 - - 11,994,291 Investment Funds - 1,343,967 - 1,343,967 Derivatives: Rights/Warrants 23,390 - - 23,390 Futures Contracts 16,555 - - 16,555 Total Financial Assets at Fair Value Through Profit or Loss 27,250,197 3,138,328 - 30,388,525

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps -(1)-(1) Futures Contracts (1,060) - - (1,060) Total Financial Liabilities at Fair Value Through Profit or Loss (1,060) (1) - (1,061)

ANIMA Star High Potential Global Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 15,447,189 - - 15,447,189 Corporate Bonds - 1,527,131 - 1,527,131 Equities 21,183,704 - - 21,183,704 Investment Funds 1,029,480 - - 1,029,480 Derivatives: Forward Currency Contracts - 225,329 - 225,329 Total Financial Asstes at Fair Value Through Profit or Loss 37,660,373 1,752,460 - 39,412,833

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (156,832) - (156,832) Total Financial Liabilities at Fair Value Through Profit or Loss - (156,832) - (156,832)

ANIMA Active Selection Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds* - 21,790,753 - 21,790,753 Total Financial Assets at Fair Value Through Profit or Loss - 21,790,753 - 21,790,753

*The indicated holdings include cross holdings in the Company.

ANIMA Funds Plc 161 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Smart Dividends Europe Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 4,903,530 - - 4,903,530 Equities 10,173,666 - - 10,173,666 Total Financial Assets at Fair Value Through Profit or Loss 15,077,196 - - 15,077,196

ANIMA Flexible Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 47,920,211 - - 47,920,211 Corporate Bonds - 13,006,213 - 13,006,213 Investment Funds 3,877,298 - - 3,877,298 Derivatives: Futures Contracts 265,809 - - 265,809 Forward Currency Contracts - 1,200,596 - 1,200,596 Options Purchased - 18,718 - 18,718 Total Financial Assets at Fair Value Through Profit or Loss 52,063,318 14,225,527 - 66,288,845

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (458,159) - (458,159) Options Written - (236,512) - (236,512) Total Financial Liabilities at Fair Value Through Profit or Loss - (694,671) - (694,671)

ANIMA Flexible Income Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 28,793,048 - - 28,793,048 Corporate Bonds - 1,892,885 - 1,892,885 Investment Funds 731,500 - - 731,500 Derivatives: Futures Contracts 177,335 - - 177,335 Forward Currency Contracts - 448,522 - 448,522 Total Financial Assets at Fair Value Through Profit or Loss 29,701,883 2,341,407 - 32,043,290

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (2,100) - - (2,100) Forward Currency Contracts - (221,398) - (221,398) Total Financial Liabilities at Fair Value Through Profit or Loss (2,100) (221,398) - (223,498)

ANIMA Funds Plc 162 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Infrastructure Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 21,521,362 - - 21,521,362 Corporate Bonds - 1,166,772 - 1,166,772 Equities 63,855,970 - - 63,855,970 Investment Funds 4,318,968 - - 4,318,968 Derivatives: Futures Contracts 22,050 - - 22,050 Forward Currency Contracts - 229,663 - 229,663 Total Financial Assets at Fair Value Through Profit or Loss 89,718,350 1,396,435 - 91,114,785

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (215,460) - - (215,460) Forward Currency Contracts - (405,277) - (405,277) Total Return Swaps - (4,010) - (4,010) Total Financial Liabilities at Fair Value Through Profit or Loss (215,460) (409,287) - (624,747)

ANIMA Solution 2022-I Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 16,461,223 - - 16,461,223 Corporate Bonds - 7,213,177 - 7,213,177 Investment Funds* 4,238,252 10,115,644 - 14,353,896 Total Financial Assets at Fair Value Through Profit or Loss 20,699,475 17,328,821 - 38,028,296

*The indicated holdings include cross holdings in the Company.

ANIMA Solution 2022-II Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 8,311,158 - - 8,311,158 Corporate Bonds - 4,734,517 - 4,734,517 Investment Funds 2,010,708 6,010,006 - 8,020,714 Total Financial Assets at Fair Value Through Profit or Loss 10,321,866 10,744,523 - 21,066,389

ANIMA Solution 2022-III Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 6,829,316 - - 6,829,316 Corporate Bonds - 6,531,493 - 6,531,493 Investment Funds* 11,871,504 2,099,840 - 13,971,344 Total Financial Assets at Fair Value Through Profit or Loss 18,700,820 8,631,333 - 27,332,153

ANIMA Funds Plc 163 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

*The indicated holdings include cross holdings in the Company.

ANIMA Solution 2023-I Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds* 10,997,037 29,641,334 - 40,638,371 Total Financial Assets at Fair Value Through Profit or Loss 10,997,037 29,641,334 - 40,638,371

*The indicated holdings include cross holdings in the Company.

ANIMA Solution EM Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds* 10,628,620 22,989,435 - 33,618,055 Total Financial Assets at Fair Value Through Profit or Loss 10,628,620 22,989,435 - 33,618,055

*The indicated holdings include cross holdings in the Company.

ANIMA Italian Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 33,189,698 - - 33,189,698 Derivatives: Futures Contracts 36,873 - - 36,873 Total Financial Assets at Fair Value Through Profit or Loss 33,226,571 - - 33,226,571

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (6,927) - - (6,927) Total Financial Liabilities at Fair Value Through Profit or Loss (6,927) - - (6,927)

ANIMA Italian Equity Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds 18,300 - - 18,300 Equities 21,203,709 - - 21,203,709 Derivatives: Rights/Warrants 6,231 - - 6,231 Total Financial Assets at Fair Value Through Profit or Loss 21,228,240 - - 21,228,240

ANIMA Funds Plc 164 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA High Yield Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Corporate Bonds - 11,225,770 - 11,225,770 Investment Funds - 876,789 - 876,789 Derivatives: Forward Currency Contracts - 20,888 - 20,888 Total Financial Assets at Fair Value Through Profit or Loss - 12,123,447 - 12,123,447

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (36,217) - (36,217) Total Financial Liabilities at Fair Value Through Profit or Loss - (36,217) - (36,217)

ANIMA Bond 2022 Opportunities Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 7,290,664 - - 7,290,664 Corporate Bonds - 33,730,997 - 33,730,997 Derivatives: Forward Currency Contracts - 59,316 - 59,316 Total Financial Assets at Fair Value Through Profit or Loss 7,290,664 33,790,313 - 41,080,977

Financial Liabilities at fair value through profit or loss Derivatives: Forward Currency Contracts - (63,883) - (63,883) Total Financial Liabilities at Fair Value Through Profit or Loss - (63,883) - (63,883)

ANIMA Global Macro Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 116,788,365 - - 116,788,365 Investment Funds 6,577,812 1,223,040 - 7,800,852 Derivatives: Futures Contracts 202,779 - - 202,779 Forward Currency Contracts - 102,333 - 102,333 Total Financial Assets at Fair Value Through Profit or Loss 123,568,956 1,325,373 - 124,894,329

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (443,362) - - (443,362) Forward Currency Contracts - (34,068) - (34,068) Total Financial Liabilities at Fair Value Through Profit or Loss (443,362) (34,068) - (477,430)

ANIMA Funds Plc 165 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview 2023-I Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Equities 34,660,335 - - 34,660,335 Derivatives: Rights/Warrants 18,774 - - 18,774 Total Financial Assets at Fair Value Through Profit or Loss 34,679,109 - - 34,679,109

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (4,435,480) - (4,435,480) Total Financial Liabilities at Fair Value Through Profit or Loss - (4,435,480) - (4,435,480)

ANIMA Brightview 2023-II Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 165,025,126 - - 165,025,126 Derivatives: Total Return Swaps - 6,906,797 - 6,906,797 Total Financial Assets at Fair Value Through Profit or Loss 165,025,126 6,906,797 - 171,931,923

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (18,240,862) - (18,240,862) Total Financial Liabilities at Fair Value Through Profit or Loss - (18,240,862) - (18,240,862)

ANIMA Brightview 2023-III Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 56,067,228 - - 56,067,228 Derivatives: Total Return Swaps - 3,609,196 - 3,609,196 Total Financial Assets at Fair Value Through Profit or Loss 56,067,228 3,609,196 - 59,676,424

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (7,783,039) - (7,783,039) Total Financial Liabilities at Fair Value Through Profit or Loss - (7,783,039) - (7,783,039)

ANIMA Funds Plc 166 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview 2023-IV Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 67,718,934 - - 67,718,934 Derivatives: Total Return Swaps - 1,986,151 - 1,986,151 Total Financial Assets at Fair Value Through Profit or Loss 67,718,934 1,986,151 - 69,705,085

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (9,617,378) - (9,617,378) Total Financial Liabilities at Fair Value Through Profit or Loss - (9,617,378) - (9,617,378)

ANIMA Brightview 2024-I Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 82,187,295 - - 82,187,295 Derivatives: Total Return Swaps - 3,618,203 - 3,618,203 Total Financial Assets at Fair Value Through Profit or Loss 82,187,295 3,618,203 - 85,805,498

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (12,896,972) - (12,896,972) Total Financial Liabilities at Fair Value Through Profit or Loss - (12,896,972) - (12,896,972)

ANIMA Brightview 2024-II Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 104,923,342 - - 104,923,342 Derivatives: Total Return Swaps - 4,888,868 - 4,888,868 Total Financial Assets at Fair Value Through Profit or Loss 104,923,342 4,888,868 - 109,812,210

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (17,104,533) - (17,104,533) Total Financial Liabilities at Fair Value Through Profit or Loss - (17,104,533) - (17,104,533)

ANIMA Funds Plc 167 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Brightview 2024-III Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 119,817,738 - - 119,817,738 Derivatives: Total Return Swaps - 10,706,992 - 10,706,992 Total Financial Assets at Fair Value Through Profit or Loss 119,817,738 10,706,992 - 130,524,730

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (19,037,826) - (19,037,826) Total Financial Liabilities at Fair Value Through Profit or Loss - (19,037,826) - (19,037,826)

ANIMA Brightview 2024-IV Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 120,697,287 - - 120,697,287 Derivatives: Total Return Swaps - 14,244,169 - 14,244,169 Total Financial Assets at Fair Value Through Profit or Loss 120,697,287 14,244,169 - 134,941,456

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (18,490,057) - (18,490,057) Total Financial Liabilities at Fair Value Through Profit or Loss - (18,490,057) - (18,490,057)

ANIMA Brightview 2024-V Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 167,282,526 - - 167,282,526 Derivatives: Total Return Swaps - 24,208,903 - 24,208,903 Total Financial Assets at Fair Value Through Profit or Loss 167,282,526 24,208,903 - 191,491,429

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (27,376,038) - (27,376,038) Total Financial Liabilities at Fair Value Through Profit or Loss - (27,376,038) - (27,376,038)

ANIMA Funds Plc 168 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Orizzonte Europa 2022 Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 33,500,143 - - 33,500,143 Corporate Bonds - 1,262,079 - 1,262,079 Investment Funds* - 3,043,656 - 3,043,656 Derivatives: Total Return Swaps - 1,860,772 - 1,860,772 Total Financial Assets at Fair Value Through Profit or Loss 33,500,143 6,166,507 - 39,666,650

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (5,883,964) - (5,883,964) Total Financial Liabilities at Fair Value Through Profit or Loss - (5,883,964) - (5,883,964)

*The indicated holdings include cross holdings in the Company.

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 36,729,241 - - 36,729,241 Corporate Bonds - 954,168 - 954,168 Investment Funds* - 3,652,388 - 3,652,388 Derivatives: Total Return Swaps - 2,727,307 - 2,727,307 Total Financial Assets at Fair Value Through Profit or Loss 36,729,241 7,333,863 - 44,063,104

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (7,558,338) - (7,558,338) Total Financial Liabilities at Fair Value Through Profit or Loss - (7,558,338) - (7,558,338)

*The indicated holdings include cross holdings in the Company.

ANIMA Funds Plc 169 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Orizzonte Sostenibile 2023 Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 266,263,317 - - 266,263,317 Derivatives: Total Return Swaps - 4,982,459 - 4,982,459 Total Financial Assets at Fair Value Through Profit or Loss 266,263,317 4,982,459 - 271,245,776

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (45,954,898) - (45,954,898) Total Financial Liabilities at Fair Value Through Profit or Loss - (45,954,898) - (45,954,898)

ANIMA Orizzonte Benessere 2023 Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 338,629,650 - - 338,629,650 Derivatives: Total Return Swaps - 20,373,094 - 20,373,094 Total Financial Assets at Fair Value Through Profit or Loss 338,629,650 20,373,094 - 359,002,744

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (67,057,588) - (67,057,588) Total Financial Liabilities at Fair Value Through Profit or Loss - (67,057,588) - (67,057,588)

ANIMA Orizzonte Consumi 2023 Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 29,846,219 - - 29,846,219 Derivatives: Total Return Swaps - 2,727,646 - 2,727,646 Total Financial Assets at Fair Value Through Profit or Loss 29,846,219 2,727,646 - 32,573,865

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (6,397,061) - (6,397,061) Total Financial Liabilities at Fair Value Through Profit or Loss - (6,397,061) - (6,397,061)

ANIMA Funds Plc 170 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Orizzonte Energia 2023 Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 125,756,866 - - 125,756,866 Derivatives: Total Return Swaps - 12,994,632 - 12,994,632 Total Financial Assets at Fair Value Through Profit or Loss 125,756,866 12,994,632 - 138,751,498

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (24,160,075) - (24,160,075) Total Financial Liabilities at Fair Value Through Profit or Loss - (24,160,075) - (24,160,075)

ANIMA Defensive Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Investment Funds* - 70,908,222 - 70,908,222 Total Financial Assets at Fair Value Through Profit or Loss - 70,908,222 - 70,908,222

*The indicated holdings include cross holdings in the Company.

ANIMA Zephyr Global Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 39,915,401 - - 39,915,401 Derivatives: Total Return Swaps - 25,177 - 25,177 Total Financial Assets at Fair Value Through Profit or Loss 39,915,401 25,177 - 39,940,578

Financial Liabilities at fair value through profit or loss Derivatives: Total Return Swaps - (33) - (33) Total Financial Liabilities at Fair Value Through Profit or Loss - (33) - (33)

ANIMA Zephyr Real Assets Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 22,146,465 - - 22,146,465 Investment Funds 1,671,622 - - 1,671,622 Derivatives: Futures Contracts 20,517 - - 20,517

ANIMA Funds Plc 171 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

Valuation Techniques (continued)

ANIMA Zephyr Real Assets Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR Total Return Swaps -1 -1 Total Financial Assets at Fair Value Through Profit or Loss 23,838,604 1 - 23,838,605

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (11,205) - - (11,205) Total Return Swaps - (16) - (16) Total Financial Liabilities at Fair Value Through Profit or Loss (11,205) (16) - (11,221)

ANIMA International Bond Level 1 Level 2 Level 3 Total As at 31 December 2019 EUR EUR EUR EUR

Financial Assets at fair value through profit or loss Government Bonds 17,045,162 - - 17,045,162 Derivatives: Futures Contracts 25,336 - - 25,336 Forward Currency Contracts - 38,389 - 38,389 Options Purchased - 5,241 - 5,241 Total Financial Assets at Fair Value Through Profit or Loss 17,070,498 43,630 - 17,114,128

Financial Liabilities at fair value through profit or loss Derivatives: Futures Contracts (164) - - (164) Forward Currency Contracts - (7,246) - (7,246) Total Financial Liabilities at Fair Value Through Profit or Loss (164) (7,246) - (7,410)

Securities Classified as Level 3

ANIMA Asia/Pacific Equity

The Fund holds 172,228 shares in BGP Holdings Plc, a Maltese, unlisted, private limited company that was expected to list on a public exchange in 2009, however to date this has not occurred. The BGP Holdings Plc shares are considered to have no current value, are not transferrable, are not currently listed on any exchange, have no intention to list on any exchange in the future. They have been valued at nil in these and the Company’s previous audited financial statements.

ANIMA Emerging Markets Equity

The Fund holds 66,000 shares in Sound Global Ltd which provides water and wastewater treatment solutions in China. The shares are listed on the Hong Kong Stock Exchange. Trading was suspended for the first time on 5 February 2015, again on 16 March 2015 and also on 12 April 2016. Due to the merger with ANIMA SICAV during the financial year 2016, the Sound Global Ltd shares were transferred into the Fund at a value of EUR 24,051, no trading took place on the investment during the financial years ended 31 December 2020 and 31 December 2019 the shares have a value of EUR 1,979 and EUR 2,026, respectively, and are classified as Level 3 in the financial statements.

The Fund also holds 172 shares in the India Magnum Fund. This security has been delisted since 2004 where the Board of Directors of the India Magnum Fund (the “Fund”) announced during the annual general meeting held on 30 March 2004, that the stockholders of the Fund have approved the voluntary liquidation of the Fund. Accordingly the Fund no longer required a listing and an application has been made for the Shares of the Fund to be removed from the Official List

ANIMA Funds Plc 172 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

2. Fair Value of Financial Instruments (continued)

ANIMA Emerging Markets Equity (continued)

of the Irish Stock Exchange (source: www.investigate.co.uk). Due to the merger with ANIMA SICAV during the financial year 2016, the India Magnum Fund shares were transferred into the Fund at a fair value of nil, no trading took place on the investment during the financial year, the shares are considered to have no current value and have been classified as Level 3 in the financial statements.

ANIMA Star High Potential Europe

The Fund holds 50,000 shares in Squarestone Brasil Ltd, a company which provides real estate services, specialising in acquiring and developing shopping malls in Brazil. Squarestone Brasil Ltd is involved in construction of Golden Square shopping center in Sao Paulo. The current view on the Company suggests that repayment of ordinary shares issued by Squarestone Brasil Ltd is highly unlikely in view of the fact that, according to the information collected, the proceeds of the sale of the main assets of Squarestone Brasil Ltd are not sufficient to repay in full the privileged shares issued by Squarestone Brasil Ltd. The Squarestone Brasil shares are considered to have no current value and have been classified as Level 3 in the financial statements.

ANIMA High Yield Bond

The Funds holds 102,258 shares in Astaldi S.p.A. Participative Financial Instruments (“SFP”). The Astaldi S.p.a. SFPs are considered to have no current value, are not trading on the market and derive from the conversion of the Astaldi S.p.a. defaulted bonds. These have been valued at nil in the Company’s audited financial statements.

The following table shows a reconciliation of all movements in the fair value of financial instruments categorised within Level 3 during the financial year ended 31 December 2020:

ANIMA Europe ANIMA Emerging ANIMA Star High Equity Markets Equity Potential Europe EUR EUR EUR Opening Balance Fair Value - 2,026 - Transfer from Level 1 to Level 3 --- Realised gains --- Unrealised losses - (47) - Purchases --- Sales --- Closing Balance Fair Value - 1,979 -

The following table shows a reconciliation of all movements in the fair value of financial instruments categorised within Level 3 during the financial year ended 31 December, 2019:

ANIMA Europe ANIMA Emerging ANIMA Star High Equity Markets Equity Potential Europe EUR EUR EUR Opening Balance Fair Value 35,727 2,018 41,367 Transfer from Level 1 to Level 3 --- Realised gains 264 - 307 Unrealised gains -8 - Purchases --- Sales (35,991) - (41,674) Closing Balance Fair Value - 2,026 -

No Level 3 sensitivity analysis of assumptions used in determining the fair value have been included for these positions these are immaterial to the Company at the financial years ended 31 December 2020 and 31 December 2019.

ANIMA Funds Plc 173 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management

Strategy in using Financial Derivative Instruments

The Company trades in financial instruments, including FDIs, both traded and over-the-counter. The investment objectives of each Fund are detailed in the Prospectus.

During the financial year ended 31 December 2020, the following FDIs have been used in the Funds:

• futures on bonds; • futures on equity indices; • futures on equities; • futures on commodity indices; • over-the-counter currency forwards; • over-the-counter currency options; • options on equity indices; • options on futures on bonds; • interest rate swaps; • total return swaps; • swaps on bond coupons and principals; and • swaps on baskets of indices or stocks

In relation to FDIs, the methodology used to determine the incremental exposure and leverage generated by each fund through the use of FDIs is the Global Exposure under the Commitment Approach as set out in the relevant UCITS Regulation (The Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 ) and Guidance Notes issued by the Central Bank.

In pursuing its investment objectives, the Company is exposed to a variety of financial risks: market risk (including currency risk, interest rate risk, and other price risk), credit risk, liquidity risk and depositary risk, which could result in a reduction in the Company’s net assets or a reduction of the profits available for distribution. The Company’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Company’s financial performance.

The risks, and the Company’s approach to the management of the risks, are described in the following sections.

Market Risk

(a) Currency risk

The Funds may invest in financial instruments and enter into transactions denominated in currencies other than their respective financial currency. Furthermore, the Funds may enter into financial derivative transactions on foreign currencies. Consequently, the Funds may be exposed to the risk that the exchange rate of its currency relative to other foreign currencies may change in a matter that has an adverse effect on Funds’ net asset value.

(b) Interest rate risk

The Funds may invest in debt securities and enter into FDI transactions on debt securities or interest rates. Consequently, the Funds may be exposed to the risk that interest rates may change in a manner that has an adverse effect on the Funds’ net asset values.

The Funds may invest in equity securities and other funds. The Funds may also enter into FDI transactions on equity securities and financial indices including commodity indices. Consequently, the Funds may be exposed to the risk that the price of equity securities, financial indices or other funds may change (whether caused by factors specific to the instrument, to the issuer or to the whole market), in a manner that has an adverse effect on the Funds’ net asset values.

In regards to the management of market risk, a distinction can be made depending on the Fund type.

ANIMA Funds Plc 174 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Market Risk (continued)

(i) Market and Absolute Return Funds

For Market Funds (i.e. Funds which are specialised in a specific asset class and with a benchmark) and Absolute Return Funds* (i.e. Funds with an absolute return objective and an absolute risk limit), market risk is monitored firstly by the Manager of each Fund during the continuing process of implementation of the investment policy.

Market risk is also monitored daily by Risk Manager of the Manager.

For each Fund, a risk limit is established by the Board of Directors of the Company, taking into consideration the Fund’s risk profile. The risk limit is expressed in term of tracking error for Market Funds and in terms of volatility for Absolute Return Funds. Such risk limit is monitored on a daily basis through a risk management system.

*UCITS that are managed according to investment policies or strategies which envisage a variable allocation of the portfolio of the fund across asset classes, under the constraint of a predetermined risk limit, shall be considered as absolute return funds.

The risk management system used for monitoring market risk is called “Risk Manager” and is developed by the company MSCI Inc. (from here on called RiskMetrics) to deliver a suite of fixed income, equity and currency risk models within an integrated solution. RiskMetrics is a risk management tool used to aggregate, manage and mitigate risks across asset classes. The risk management system did not change during the reporting period.

RiskMetrics is a widely understood software for risk management and is used by a number of primary asset managers worldwide. The system is used as application service provider (“ASP”), over the Internet. The provider maintains models and data, whilst the Risk Manager provides position and over-the counter term and conditions data.

RiskMetrics is able to calculate a variety of risk indicators, both absolute and relative, using three methodologies: parametric, Monte Carlo simulation and historical simulation. For equities and investment funds, the actual time series of returns is used as risk factor, whilst for bonds both risk-free interest rate curves and spread curves are used. For options volatility surfaces are also used. The system is flexible in establishing the length of historical data series used, the frequency of data (up to daily) and their decay factor.

For each Fund, minimum and/or maximum level of exposure to the principal risk factors to which each Fund is exposed to are also established by the Board of Directors of the Manager, taking into consideration the Funds’ risk profile. Such exposure limits are monitored on a daily basis of the Manager through the risk management proprietary systems.

(ii) Total Return Funds

For Total Return Return Funds (i.e. Funds with an absolute return objective but without an absolute risk limit, including Funds with a pre-determined time horizon and which are specialised in bonds which mature at about the same date as the time horizon but which may take additional exposure to other asset classes), market risk is managed firstly by the Manager during the initial portfolio construction process and during the continuing process of implementation of the investment policy.

Market risk is also monitored daily by Risk Manager of the Manager.

For each Fund, minimum and/or maximum level of exposure to the principal risk factors to which each Fund is exposed to are established by the Board of Directors of the Manager, taking into consideration the Funds’ risk profile. Such exposure limits are monitored on a daily basis of the Manager through the risk management proprietary systems.

Credit risk

ANIMA Funds Plc 175 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Credit risk (continued)

treated as a general creditor of that entity in respect of its cash balances. Periodic monitoring and an annual review are performed on the Depositary by an outsourcing monitoring team of the Manager. This review may include as appropriate an assessment of the Depositary’s liquidity position, income streams, asset quality and credit ratings.

Risk is managed by monitoring the credit quality and financial positions of the Fund.

(a) Issuer risk

The Funds may invest in debt securities and FDIs on debt securities. Consequently, the Funds may be exposed to the risk that the issuer of the debt securities may be unable to repay in full the periodic coupons and/or the principal.

(b) Counterparty risk

The Funds may enter into OTC FDIs, security lending and reverse repurchase agreement transactions. Consequently, the Funds may be exposed to the risk that the counterparty of those transactions may be unable to discharge in full any obligation or commitment that it has entered with the Funds.

Issuer risk is monitored by the Manager during the initial and continuing process of implementation of the investment policy. Issuer risk is monitored primarily through the use of the credit rating of one or more rating agencies (External Credit Assessment Institutions), but through the use of the internal credit rating attributed by the Manager according to an internal policy approved by the Board of Directors of the Manager. When a security is not compliant anymore with the risk profile of a Fund (i.e. due to the downgrade below the minimum external or internal rating requirement), the Manager will dispose of the holding, as soon as practical, considering the interest of the shareholders.

Counterparty risk is monitored by the Manager during the initial and continuing process of implementation of the investment policy. Counterparty risk is monitored primarily through the use of an internal counterparty rating attributed by the Manager according to an internal policy approved by the Board of Directors of the Manager. When a counterparty is not compliant anymore with the counterparty authorisation policy (i.e. due to the downgrade below the minimum internal rating requirement), the Manager will terminate the transaction, as soon as practical, considering the interest of the shareholders.

Counterparty risk related to OTC FDIs is also mitigated by the daily receipt of collateral, of adequate level, quality and diversification and with the application of appropriate haircuts, according to an internal policy approved by the Board of Directors of the Manager, in compliance with EMIR regulations. Counterparty risk related to security lending and reverse repo transactions is also mitigated by the daily receipt of collateral, of adequate level, quality and diversification and with the application of appropriate haircuts, according to an internal policy approved by the Board of Directors of the Manager.

The below table discloses the Standard & Poor’s long term debt ratings of the counterparties as at the financial year end and also it discloses the Counterparty Risk exposure across all the Funds within the Company as a percentage of the NAV:

As at 31 December 2020 As at 31 December 2019 BNP Paribas A+ 0.05% BNP Paribas A+ 0.03% Credit Agricole A+ 0.00% Credit Agricole A+ 0.02% Goldman Sachs A+ 0.19% Goldman Sachs A+ 0.14% JP Morgan A+ 0.21% JP Morgan A+ 0.28% Morgan Stanley A+ 0.01% Morgan Stanley A+ 0.02% MPS Capital Service B+ 3.21% MPS Capital Service B+ 3.11% Nomura International BBB+ 0.01% Nomura International BBB+ 0.01% Unicredit Bank AG BBB 0.00% Unicredit Bank AG BBB 0.00%

Liquidity risk

Liquidity risk is the risk that the Funds will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial assets. Delivery obligation may arise from: accounts payable (i.e. management fees, depositary fees, etc.), FDIs, cash redemptions of redeemable participating shares.

ANIMA Funds Plc 176 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

The investment processes of the Manager are organised in a way whereby a liquidity profile for each Fund is identified taking into account all relevant factors: investment policy (i.e. instrument type in which the Fund is mainly invested), risk classification, diversification of shareholders, frequency of NAV price calculation, recent trend of subscription and redemption. According to that profile, a desired Fund’s minimum liquidity level is defined. In making an investment decision, high priority is given to the liquidity of each eligible investment.

For each Fund, maximum levels of exposure to less liquid assets are established by the Board of Directors of the Manager, taking into consideration the Fund’s risk profile. Such exposure limits are monitored on a daily basis of the Manager through the risk management proprietary systems.

The liquidity of equities is mainly estimated from volumes traded in regulated exchanges, whilst the liquidity of fixed income securities is mainly estimated using a variety of information (issuer type, amount outstanding, bid/ask spreads, credit rating, etc). For FDIs, the liquidity of the underlying asset is used. For Underlying Investment Fund (UIF), the Manager carry out a specific due diligence process to ensure that the dealing profile of the target UIF meets the dealing and the liquidity requirements of the investing Fund.

Risk Monitoring

In addition to the risk monitoring performed by the Manager, other risk review activities are scheduled.

The risk and return of the Funds is also analysed by the Board of Directors of the Manager on a regular basis at periodic board meetings.

The Board of Directors of the Company supervises the Manager and is ultimately responsible for the risk management within the Company.

Exposure Analysis / Sensitivity Analysis

In this section, an exposure analysis is presented for each risk type to which the Fund is exposed at the reporting date and at the previous period reporting date. In addition to that, a sensitivity analysis in presented for each risk type of market risk to which the Fund is exposed at the report date and at previous period reporting date, showing how the net asset value of the Fund would have been affected by changes in the relevant risk variable that were reasonably possible.

A risk concentration analysis for each financial instrument type is also present in the “Schedule of Investments” section.

Capital risk management

The capital of the Company is represented by the net assets attributable to holders of redeemable shares. The amount of net asset attributable to holders of redeemable shares can change significantly on a daily/weekly basis, as the Company is subject to daily/weekly subscriptions and redemptions at the discretion of shareholders. The Fund’s objective when managing capital is to safeguard the Fund’s ability to continue as a going concern in order to provide returns for shareholders, provide benefits for other stakeholders and maintain a strong capital base to support the development of the investment activities of the Company.

(a) Currency risk

The tables below summarise the currency exposure as a percentage of the Funds’ net asset value, which is calculated with the inclusion of currency forwards. The percentages below are net of the effect of FX contracts.

As at 31 December 2020 ANIMA Short Term ANIMA Medium ANIMA Global ANIMA Short Term Currency ANIMA Liquidity Bond Term Bond ANIMA Bond Dollar Bond Corporate Bond AED ------ARS ------AUD ----1.70%-

ANIMA Funds Plc 177 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Short Term ANIMA Medium ANIMA Global ANIMA Short Term Currency ANIMA Liquidity Bond Term Bond ANIMA Bond Dollar Bond Corporate Bond BNG ------BRL ------CAD ----1.87%- CHF ----0.15%- CLP ------CNY ------COP ------CZK ------DKK ----0.45%- EGP ------EUR 100.00% 100.00% 100.00% 4.48% 29.48% 99.16% GBP ----6.74%0.06% HKD ------HUF ------IDR ------ILS ------INR ------JPY ----24.02%- KRW ------KWD ------KZT ------MUR ------MXN ------MYR ------NOK ------NZD ------PEN ------PHP ------PKR ------PLN ------PLZ ------QAR ------RON ------RUB ------SAR ------SEK ------SGD ------THB ------TRY ------TWD ------USD - - - 95.52% 35.59% 0.78%

ANIMA Funds Plc 178 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Short Term ANIMA Medium ANIMA Global ANIMA Short Term Currency ANIMA Liquidity Bond Term Bond ANIMA Bond Dollar Bond Corporate Bond VEF ------ZAR ------Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2020 ANIMA Europe ANIMA Asia/Pacific ANIMA Global ANIMA Emerging ANIMA Global

Currency Equity ANIMA U.S. Equity Equity Equity Value1 Markets Equity Selection 2 AED ----0.04%- ARS ----0.01%- AUD - - 17.83% 1.23% - 1.84% BNG ------BRL ----7.17%- CAD - - - 3.23% - 3.71% CHF 15.69% 2.19% - 1.65% - 2.80% CLP ----0.40%- CNY - 0.92% - - 38.90% - COP ----0.02%- CZK ----0.02%- DKK 3.91% - - 0.65% - 0.41% EGP ----0.01%- EUR 51.01% -0.69% 5.86% 19.39% 4.14% 15.92% GBP 22.63% - - 6.63% 0.45% 4.75% HKD - - 5.93% 0.95% 2.78% 0.92% HUF ----0.02%- IDR ----0.63%- ILS -1.88%---- INR ----9.27%- JPY - - 67.86% 13.88% 0.03% 7.29% KRW ----15.42%- KWD ----0.04%- KZT ------

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 179 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Europe ANIMA Asia/Pacific ANIMA Global ANIMA Emerging ANIMA Global

Currency Equity ANIMA U.S. Equity Equity Equity Value1 Markets Equity Selection 2 MUR ------MXN ----2.02%- MYR ----0.31%- NOK 1.03% - - 0.54% - - NZD --0.14%--- PEN ----0.02%- PHP ----0.06%- PKR ------PLN ----0.67%- PLZ ------QAR ----0.06%- RON ------RUB 0.51% - - - 3.04% - SAR ----0.19%- SEK 5.22% - - 1.01% - 0.44% SGD - - 2.35% - 0.02% - THB ----0.59%- TRY ----0.03%- TWD ----12.65%- USD - 95.70% 0.03% 50.84% -2.53% 61.92% VEF ------ZAR ----3.52%- Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 180 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Global ANIMA Variable ANIMA Hybrid ANIMA Euro ANIMA Star High Currency ANIMA Euro Equity Currencies Rate Bond Bond Government Bond Potential Europe BNG ------BRL ------CAD - 0.17% - - - 0.06% CHF 0.01% 10.54% - - - 2.29% CLP ------CNY ------COP ------CZK -----0.01% DKK 0.59% 10.77% - - - 0.77% EGP ------EUR 95.94% -2.97% 100.00% 99.86% 99.93% 94.62% GBP 2.80% 10.00% - 0.05% - 0.95% HKD - 9.82% - - - 0.07% HUF ------IDR ------ILS ------INR ------JPY - 10.52% - - - 0.02% KRW ------KWD ------KZT ------MUR ------MXN -0.04%---- MYR ------NOK 0.31% 9.98% - - - -0.16% NZD -11.15%---- PEN ------PHP ------PKR ------PLN -----0.19% PLZ ------QAR ------RON ------RUB -----0.74% SAR ------SEK 0.34% 10.03% - - - 0.45% SGD ------THB ------TRY -0.01%---- TWD ------USD 0.01% 9.79% - 0.09% 0.07% -0.01%

ANIMA Funds Plc 181 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Global ANIMA Variable ANIMA Hybrid ANIMA Euro ANIMA Star High Currency ANIMA Euro Equity Currencies Rate Bond Bond Government Bond Potential Europe VEF ------ZAR -0.02%---- Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2020 ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Volatility Emerging Currency ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA Markets AED -----0.33% ARS -----0.08% AUD0.03%----- BNG ------BRL -----3.18% CAD0.02%----- CHF 0.08% 1.25% 0.23% - - - CLP -----0.31% CNY -----24.24% COP -----0.12% CZK -----0.06% DKK ------EGP -----0.05% EUR 87.85% 97.65% 96.57% 100.00% 97.32% 38.03% GBP 0.26% 1.10% 0.45% - - - HKD -----0.01% HUF -----0.13% IDR -----0.83% ILS ------INR -----5.74% JPY - - 0.73% - - - KRW -----8.35% KWD -----0.30% KZT ------MUR ------MXN -----1.07% MYR -----0.94% NOK ------NZD0.07%----- PEN -----0.15% PHP -----0.46% PKR -----0.01% PLN -----0.42%

ANIMA Funds Plc 182 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Volatility Emerging Currency ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA Markets PLZ ------QAR -----0.43% RON ------RUB -----1.83% SAR -----1.51% SEK0.01%----- SGD ------THB -----1.13% TRY -----0.23% TWD -----7.91% USD 11.68% - 2.02% - 2.68% - VEF ------ZAR -----2.15% Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2020 ANIMA Credit ANIMA Star High ANIMA Trading ANIMA Active ANIMA Smart ANIMA Flexible

Currency Opportunities Potential Italy Fund1 Selection Dividends Europe Bond AED ------ARS ------AUD - - - 0.50% - - BNG ------BRL - - - 0.29% - - CAD - - -0.04% 0.31% - - CHF - 0.08% 0.59% 0.99% 7.57% - CLP - - - 0.01% - - CNY - - 1.68% 2.43% - - COP ------CZK ------DKK - - 0.08% 0.27% 5.67% - EGP ------

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Funds Plc 183 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Credit ANIMA Star High ANIMA Trading ANIMA Active ANIMA Smart ANIMA Flexible

Currency Opportunities Potential Italy Fund1 Selection Dividends Europe Bond EUR 99.03% 99.76% 96.54% 46.89% 66.78% 98.88% GBP 0.32% 0.08% - 2.22% 15.11% 0.20% HKD - - -0.91% 0.24% - - HUF -----0.01% IDR - - - 0.04% - - ILS - - - 0.10% - - INR - - -1.20% 0.56% - - JPY - - 1.03% 3.45% - 0.30% KRW - - 0.93% 0.93% - - KWD ------KZT ------MUR - - - 23.12% - - MXN - - - 0.09% - - MYR - - - 0.02% - - NOK - - 0.10% 0.10% 1.90% - NZD - - - 0.01% - - PEN ------PHP - - - 0.01% - - PKR ------PLN - - - 0.05% - 0.56% PLZ ------QAR ------RON -----0.03% RUB - - - 0.20% - - SAR - - - 0.02% - - SEK - - 0.37% 0.45% 2.97% - SGD - - - 0.06% - - THB - - - 0.03% - - TRY ------TWD - - - 0.71% - - USD 0.65% 0.08% 0.83% 15.75% - 0.02% VEF ------ZAR - - - 0.15% - - Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Funds Plc 184 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Solution ANIMA Solution ANIMA Solution ANIMA Solution Currency 2022-I 2022-II 2022-III 2023-I ANIMA Solution EM ANIMA Italian Bond AED ------ARS ------AUD - - - 0.12% 0.48% - BNG ------BRL ----0.32%- CAD - - - 0.10% 0.09% - CHF 0.45% 0.07% 0.34% 0.83% - - CLP ----0.01%- CNY ----2.81%- COP ------CZK ------DKK 0.11% 0.02% 0.26% 0.24% 0.02% - EGP ------EUR 92.97% 99.88% 87.60% 76.60% 63.35% 99.96% GBP 0.64% 0.03% 0.68% 1.85% 0.51% - HKD ----0.23%- HUF ------IDR ----0.05%- ILS ------INR ----0.65%- JPY - - - 1.18% 2.49% - KRW ----1.10%- KWD ------KZT ------MUR 5.64% - 4.93% 15.21% 23.45% - MXN ----0.10%- MYR ----0.02%- NOK 0.03% - 0.09% 0.09% - - NZD ----0.01%- PEN ------PHP ----0.01%- PKR ------PLN - - - 0.01% 0.04% - PLZ ------QAR ------RON ------RUB 0.01% - - 0.03% 0.14% -

ANIMA Funds Plc 185 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Solution ANIMA Solution ANIMA Solution ANIMA Solution Currency 2022-I 2022-II 2022-III 2023-I ANIMA Solution EM ANIMA Italian Bond SAR ----0.02%- SEK 0.15% - 0.13% 0.38% 0.01% - SGD ----0.09%- THB ----0.04%- TRY ------TWD ----0.84%- USD - - 5.97% 3.36% 2.95% 0.04% VEF ------ZAR ----0.17%- Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2020 ANIMA Italian ANIMA High Yield ANIMA Bond ANIMA Global ANIMA Brightview ANIMA Brightview Currency Equity Bond 2022 Opportunities Macro 2023-I 2023-II AED - - - 0.02% - - ARS - - - 0.01% - - AUD - - - -0.66% 0.58% 0.20% BNG ------BRL - - - 0.23% - - CAD ----2.01%-- CHF 0.84% 0.02% 0.03% - 1.55% 0.52% CLP - - - 0.02% - - CNY - - - 1.72% 0.32% 0.11% COP - - - 0.01% - - CZK ------DKK 0.01% - - - 0.54% 0.18% EGP ------EUR 98.51% 99.15% 99.12% 97.41% 68.94% 87.59% GBP 0.64% 0.44% 0.25% 0.12% 3.39% 0.90% HKD ----0.25%0.09% HUF - - - 0.01% - - IDR - - - 0.07% 0.04% 0.01% ILS ------INR - - - 0.41% 0.23% 0.08% JPY - - - -5.80% 1.82% 0.61% KRW - - - 0.59% 0.03% 0.01% KWD - - - 0.02% - - KZT ------

ANIMA Funds Plc 186 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Italian ANIMA High Yield ANIMA Bond ANIMA Global ANIMA Brightview ANIMA Brightview Currency Equity Bond 2022 Opportunities Macro 2023-I 2023-II MUR - - - 0.57% 4.81% 1.63% MXN - - - 0.09% - - MYR - - - 0.09% 0.02% 0.01% NOK ----0.17%0.06% NZD ----0.04%0.01% PEN - - - 0.01% - - PHP - - - 0.03% - - PKR ------PLN - - - 0.08% - - PLZ ------QAR - - - 0.03% - - RON ------RUB - - - 0.13% - - SAR - - - 0.11% - - SEK - - - 0.01% 0.54% 0.18% SGD ----0.08%0.03% THB - - - 0.09% 0.02% 0.01% TRY - - - 0.02% - - TWD - - - 0.56% 0.16% 0.05% USD - 0.39% 0.60% 5.85% 16.47% 7.72% VEF ------ZAR - - - 0.16% - - Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview Currency 2023-III 2023-IV 2024-I 2024-II 2024-III 2024-IV AED ------ARS ------AUD - - 0.07% - - 0.62% BNG ------BRL -0.08%---- CAD - - 0.02% - - 0.05% CHF - - 0.02% 0.17% 2.79% 0.22% CLP ------CNY - 0.80% - - 2.65% 0.63% COP ------CZK ------DKK ----0.68%0.04% EGP ------

ANIMA Funds Plc 187 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview Currency 2023-III 2023-IV 2024-I 2024-II 2024-III 2024-IV EUR 82.19% 91.12% 80.53% 98.00% 78.20% 75.83% GBP - - 0.06% 0.35% - 1.25% HKD - - 0.07% - - 0.27% HUF ------IDR -----0.02% ILS ------INR - 0.15% - - - 0.15% JPY - - 0.28% - 1.96% 2.09% KRW -----0.22% KWD ------KZT ------MUR - 6.40% 13.92% - - 7.45% MXN ------MYR -----0.02% NOK -----0.02% NZD -----0.03% PEN ------PHP -----0.01% PKR ------PLN ------PLZ - - - 0.08% - - QAR ------RON ------RUB -0.08%---- SAR ------SEK - - 0.01% 0.25% - 0.07% SGD - - 0.02% - - 0.09% THB -----0.03% TRY ------TWD ----0.64%0.21% USD 17.81% 1.37% 5.00% 1.15% 13.08% 10.68% VEF ------ZAR ------Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA ANIMA ANIMA Currency 2024-V 2025-I 2027-I Brightview-II Brightview-III Brightview-IV AED ------ARS ------AUD 0.01% - 0.04% - - 0.22%

ANIMA Funds Plc 188 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA ANIMA ANIMA Currency 2024-V 2025-I 2027-I Brightview-II Brightview-III Brightview-IV BNG ------BRL ----0.91%- CAD ----0.93%0.17% CHF -----0.08% CLP ------CNY 0.01% - 0.11% - - 0.32% COP ------CZK ------DKK -----0.03% EGP ------EUR 99.61% 83.93% 96.89% 88.76% 87.47% 83.84% GBP 0.01% - 0.13% - - 0.64% HKD - - 0.02% - - 0.11% HUF ------IDR -----0.01% ILS ------INR - - 0.03% - - 0.08% JPY 0.02% - 0.21% - - 0.71% KRW - - 0.04% - - 0.11% KWD ------KZT ------MUR 0.22% 13.93% 1.49% 10.07% 4.78% 7.82% MXN ----0.95%- MYR -----0.01% NOK -----0.02% NZD -----0.01% PEN ------PHP -----0.01% PKR ------PLN ------PLZ ------QAR ------RON ------RUB ------SAR ------SEK -----0.02% SGD - - 0.01% - - 0.05% THB - - 0.01% - - 0.02% TRY ------TWD - - 0.04% - - 0.11% USD 0.12% 2.14% 0.98% 1.17% 4.96% 5.61%

ANIMA Funds Plc 189 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA ANIMA ANIMA Currency 2024-V 2025-I 2027-I Brightview-II Brightview-III Brightview-IV VEF ------ZAR ------Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2020 ANIMA Orizzonte Europa 2023 - ANIMA ANIMA ANIMA ANIMA ANIMA Orizzonte Rendimento

Currency Brightview-V1 Brightview-VI1 Brightview-VII1 Brightview-VIII1 Europa 2022 Bilanciato AED ------ARS ------AUD0.32%0.03%---- BNG ------BRL ------CAD0.13%0.01%---- CHF0.12%0.01%---- CLP ------CNY0.63%----- COP ------CZK ------DKK0.03%----- EGP ------EUR 84.09% 91.04% 100.00% 100.00% 99.66% 99.65% GBP 0.94% 0.03% - - 0.27% 0.28% HKD0.15%0.04%---- HUF ------IDR0.02%----- ILS0.01%----- INR0.15%----- JPY1.56%0.15%---- KRW0.22%----- KWD ------KZT ------

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 190 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Orizzonte Europa 2023 - ANIMA ANIMA ANIMA ANIMA ANIMA Orizzonte Rendimento

Currency Brightview-V1 Brightview-VI1 Brightview-VII1 Brightview-VIII1 Europa 2022 Bilanciato MUR4.45%7.42%---- MXN ------MYR0.02%----- NOK0.01%----- NZD0.01%----- PEN ------PHP0.01%----- PKR ------PLN ------PLZ ------QAR ------RON ------RUB ------SAR ------SEK0.04%0.01%---- SGD0.05%0.01%---- THB0.03%----- TRY ------TWD0.20%----- USD 6.81% 1.25% - - 0.07% 0.07% VEF ------ZAR ------Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 191 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Zephyr Currency Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 ANIMA Defensive Global BNG ------BRL - 0.13% - 0.01% 0.09% 0.65% CAD - - 0.07% 0.25% 0.17% - CHF 0.19% - 0.40% 0.02% 0.43% 0.70% CLP ------CNY - 4.95% - 0.97% 0.64% 2.15% COP ------CZK ------DKK 0.06% - 0.02% 1.42% 0.13% - EGP ------EUR 80.63% 77.19% 84.09% 84.65% 88.23% 91.59% GBP 0.65% - 0.52% 0.01% 1.30% 0.50% HKD - - 0.02% 0.04% 0.06% -1.75% HUF -0.03%---- IDR - 0.02% - - 0.01% - ILS - - - 0.04% 0.03% - INR - 0.41% - - 0.15% - JPY 9.11% 5.67% 0.34% 0.21% 1.92% 1.60% KRW - 0.71% - 0.19% 0.25% - KWD ------KZT ------MUR 5.87% 3.68% 7.54% 7.89% 0.05% 0.04% MXN ----0.03%- MYR - 0.18% - - 0.01% - NOK 0.08% - 0.02% 0.08% 0.03% - NZD - 0.40% 0.01% - - - PEN ------PHP ------PKR ------PLN ----0.01%- PLZ ------QAR ------RON ----0.01%- RUB ----0.05%0.01% SAR -0.01%---- SEK 0.28% - 0.04% 0.02% 0.15% - SGD - - 0.01% - 0.01% - THB - 0.09% - 0.09% 0.01% - TRY ------TWD - 0.02% - 0.03% 0.19% - USD 3.13% 3.65% 6.85% 4.08% 5.77% 3.94%

ANIMA Funds Plc 192 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Zephyr ANIMA Zephyr ANIMA Zephyr Real ANIMA

Currency Global Allocation New1 Assets International Bond AED - 0.02% 0.01% - ARS ---- AUD 0.34% - 0.53% 1.78% BNG ---- BRL 0.04% 0.15% 0.11% - CAD 0.38% - 0.73% 1.46% CHF 0.69% - 0.23% - CLP - 0.02% 0.01% - CNY 0.47% 1.18% 0.88% - COP - 0.01% - - CZK ---- DKK 0.19% - 0.05% 0.25% EGP ---- EUR 90.30% 85.39% 90.70% 31.29% GBP 1.01% - 1.75% 7.16% HKD 0.17% - 0.22% - HUF - 0.01% - - IDR 0.02% 0.04% 0.03% - ILS 0.02% - 0.01% - INR 0.11% 0.28% 0.21% - JPY 1.19% - 1.49% 18.63% KRW 0.16% 0.41% 0.30% - KWD - 0.01% 0.01% - KZT ---- MUR 1.65% 1.48% 5.96% - MXN 0.01% 0.05% 0.04% - MYR 0.02% 0.05% 0.03% - NOK 0.03% - 0.05% - NZD 0.03%--- PEN - 0.01% 0.01% - PHP 0.01% 0.02% 0.02% -

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 193 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2020 ANIMA Zephyr ANIMA Zephyr ANIMA Zephyr Real ANIMA

Currency Global Allocation New1 Assets International Bond PKR ---- PLN 0.01% 0.02% 0.02% - PLZ ---- QAR 0.01% 0.02% 0.02% - RON ---- RUB 0.02% 0.09% 0.07% - SAR 0.02% 0.07% 0.05% - SEK 0.10% - 0.07% 0.19% SGD 0.04% - 0.08% - THB 0.02% 0.05% 0.04% - TRY - 0.01% 0.01% - TWD 0.15% 0.38% 0.29% - USD 2.76% 10.13% -4.11% 39.24% VEF ---- ZAR 0.03% 0.10% 0.08% - Total Exposure 100.00% 100.00% 100.00% 100.00%

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 194 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 ANIMA Global ANIMA Short Term ANIMA Europe ANIMA Asia/Pacific Currency ANIMA Bond Dollar Bond Corporate Bond Equity ANIMA U.S. Equity Equity AUD - 1.26% - - - 16.60% BRL ------CAD -1.49%---- CHF - 0.14% - 14.76% 1.50% - CNY ----0.80%- DKK - 0.37% - 3.16% - - EUR 4.78% 28.80% 99.37% 51.01% 0.17% 8.85% GBP - 6.24% 0.04% 25.04% - - HKD -----6.16% ILS ----1.41%- JPY - 26.50% - - - 64.88% NOK - - - 1.40% - - RUB ------SEK - 0.12% - 4.39% - - SGD -----3.44% USD 95.22% 35.08% 0.59% 0.24% 96.12% 0.07% Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 195 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 ANIMA Global ANIMA Emerging ANIMA Global ANIMA Variable ANIMA Hybrid Currency Equity Markets Equity ANIMA Euro Equity Currencies Rate Bond Bond AED -0.05%---- ARS -0.01%---- AUD 2.41% - - 11.22% - - BRL -10.83%---- CAD 5.14% - - 0.43% - - CHF 3.20% - 0.31% 11.70% - - CLP -0.71%---- CNY0.41%38.26%---- COP -0.03%---- CZK -0.02%---- DKK 0.88% - 0.89% 15.23% - - EGP -0.01%---- GBP 10.25% -1.56% 97.41% -13.69% 100.00% 99.40% EUR 5.48% 0.01% 0.86% 11.28% - 0.15% HKD 1.01% 0.25% - 12.77% - - HUF -0.03%---- IDR -1.44%---- ILS ------INR -8.29%---- JPY 8.21% 0.04% - 12.10% - - KRW -16.27%---- KZT - 2.47% - 0.03% - - MXN -0.83%---- MYR 0.55% - 0.08% 10.25% - - NOK - - - 11.69% - - NZD -0.03%---- PEN -0.07%---- PHP -0.70%---- PLN -0.07%---- QAR -5.34%---- RUB -0.20%---- SEK 0.81% - - 11.26% - - SGD -0.02%---- THB -1.20%---- TRY - 0.04% - 0.01% - - TWD -10.83%---- USD 61.65% -0.93% 0.45% 5.69% - 0.45% ZAR - 4.44% - 0.03% - - Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 196 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Credit Currency Government Bond Potential Europe ANIMA Star Bond Volatility USA ANIMA Solution EM Opportunities AED ----0.01%- AUD - - 0.03% - 0.72% - BGN ----0.02%- BRL - - 1.33% - 1.41% - CAD - 0.02% 0.02% - 0.03% - CHF - 1.69% 0.08% - - - CLP ----0.08%- CNY ----6.05%- COP ----0.01%- CZK - 0.01% - - 0.01% - DKK - 0.18% - - 0.01% - EGP ------EUR 99.73% 100.68% 100.53% 97.93% 21.72% 99.74% GBP 0.14% -2.04% -3.32% - 0.13% 0.09% HKD ----0.26%- HUF - - 1.24% - 0.04% - IDR ----0.25%- ILS ------INR ----1.37%- JPY - 0.02% 0.02% - 2.94% - KRW ----2.44%- MUL - - 1.80% - 56.13% - MXN - - 0.01% - 0.31% - MYR ----0.13%- NOK - -0.13% 5.07% - 0.19% - NZD - - 0.08% - 0.01% - PEN ----0.01%- PHP ----0.02%- PLN ----0.09%- QAR ----0.02%- RUB ----0.62%- SAR ----0.06%- SEK - -0.37% 0.01% - 0.01% - SGD ----0.14%- THB ----0.19%- TRY ----0.01%- TWD ----1.58%- USD 0.13% -0.06% -6.90% 2.07% 2.43% 0.17% ZAR ----0.55%- Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 197 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 ANIMA Star High ANIMA Star High ANIMA Flexible ANIMA Flexible ANIMA Smart ANIMA Smart Currency Potential Italy Potential Global Bond Income Volatility Europe Volatility Global AED ------AUD - 0.01% - -0.49% - - BRL - 0.27% 1.57% - - - CAD - 0.90% - 0.10% - - CHF 0.02% 0.15% - 0.32% 0.57% 0.22% CLP --0.54%--- CNY -3.90%---- COP ------CZK --1.10%--- DKK -0.16%---- EUR 99.91% 97.64% 99.30% 97.31% 98.60% 97.66% GBP 0.03% 0.32% -5.71% -0.49% 0.83% 0.27% HKD --1.79%---- HUF - - 3.71% -0.11% - - IDR ------ILS ------INR --0.59%---- JPY - 0.92% - -0.49% - 0.39% KRW ------MUL --2.32%--- MXN - - 0.01% 2.79% - - MYR ------NOK - 0.22% 5.07% - - - NZD - - - 0.03% - - PEN ------PHP ------PLN --0.36%--- QAR ------RON --0.02%--- RUB ----0.21%-- SEK --0.04%---- SGD ------THB ------TRY ------TWD ------USD 0.04% -2.07% -8.29% 0.92% - 1.46% ZAR - - - 0.32% - - Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 198 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 ANIMA Smart ANIMA Solution ANIMA Solution ANIMA Solution ANIMA Solution ANIMA Italian Currency Dividends Europe 2022-I 2022-II 2022-III 2022-III Equity AUD ----0.04%- BRL ----0.03%- CAD ----0.07%- CHF 7.82% 1.86% - 0.57% 2.23% 0.09% DKK 4.37% 0.33% - 0.32% 0.57% - EUR 58.52% 80.77% 99.99% 64.56% 59.82% 99.91% GBP 25.02% 3.12% - 1.81% 4.70% - HUF ----0.03%- JPY ----0.49%- MUL - 13.21% - 12.58% 29.68% - NOK 1.03% 0.15% - 0.07% 0.50% - RUB ------SEK 3.24% 0.53% - 0.23% 0.97% - USD - 0.03% 0.01% 19.86% 0.87% - Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 199 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 Currency ANIMA Bond ANIMA Global ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview 2022 Opportunities Macro 2023-I 2023-II 2023-III 2023-IV AED -0.01%---- AUD --0.01%---- BRL -0.50%---- CAD -0.02%---- CHF0.03%----- CLP -0.01%---- CNY -0.53%---- COP -0.20%---- CZK ------DKK ------EGP ------EUR 99.66% 90.37% 100.00% 100.00% 100.00% 100.00% GBP0.10%0.05%---- HKD ------HUF -0.17%---- IDR -0.21%---- ILS ------INR -0.14%---- JPY -0.05%---- KRW -0.18%---- MXN -0.44%---- MYR -0.19%---- NOK ------NZD ------PEN -0.01%---- PHP -0.01%---- PLN -0.36%---- QAR -0.02%---- RUB -0.28%---- SAR -0.04%---- SEK ------SGD ------THB -0.19%---- TRY -0.02%---- TWD -0.18%---- USD0.21%5.40%---- ZAR -0.43%---- Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 200 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 Currency ANIMA Brightview ANIMA Orizzonte ANIMA Orizzonte ANIMA Active ANIMA Italian Bond ANIMA Medium 2024-I Europa 2022 Europa 2023 - Selection Term Bond Rendimento Bilanciato AED - - - 0.01% - - AUD - - - 1.01% - - BGN - - - 0.01% - - BRL - - - 0.99% - - CAD - - - 0.47% - - CHF - - - 0.74% - - CLP - - - 0.05% - - CNY - - - 5.00% - - COP - - - 0.01% - - CZK - - - 0.01% - - DKK - - - 0.15% - - EGP ------EUR 100.00% 99.95% 99.94% 32.49% 100.00% 100.00% GBP - - - 1.60% - - HKD - - - 0.40% - - HUF - - - 0.02% - - IDR - - - 0.20% - - ILS - - - 0.17% - - INR - - - 1.10% - - JPY - - - 4.14% - - KRW - - - 1.98% - - MUL - - - 13.36% - - MXN - - - 0.22% - - MYR - - - 0.10% - - NOK - - - 0.24% - - NZD - - - 0.01% - - PEN - - - 0.01% - - PHP - - - 0.02% - - PLN - - - 0.06% - - QAR - - - 0.01% - - RUB - - - 0.43% - - SAR - - - 0.04% - - SEK - - - 0.30% - - SGD - - - 0.16% - - THB - - - 0.15% - - TRY - - - 0.01% - - TWD - - - 1.26% - - USD - 0.05% 0.06% 32.68% - -

ANIMA Funds Plc 201 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 ZAR - - - 0.39% - - Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2019 Currency ANIMA Short Term ANIMA Life Bond ANIMA Liquidity ANIMA Smart ANIMA High Yield ANIMA Defensive Bond Volatility Italy Bond AED ------AUD -----0.13% BRL -----0.02% CAD -----0.09% CHF ----0.03%- CLP -----0.02% CNY ------COP ------CZK ------DKK -----0.03% EGP ------EUR 100.00% 100.00% 100.00% 100.00% 98.86% 94.33% GBP ----0.63%0.57% HKD ------HUF -----0.03% IDR ------ILS ------INR ------JPY -----1.57% KRW ------MUL ----0.02%0.03% MXN ------MYR ------NOK -----0.20% NZD ------PEN ------PHP ------PLN ------QAR ------RUB ------SEK -----0.02% SGD ------THB ------TRY ------TWD ------USD ----0.46%2.96%

ANIMA Funds Plc 202 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 ZAR ------Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2019 Currency ANIMA ANIMA ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte Infrastructure International Bond Sostenibile 2023 Benessere 2023 Energia 2023 Consumi 2023 AED ------AUD0.17%2.09%---- BRL ------CAD0.12%1.76%---- CHF0.07%----- CLP ------CNY1.14%----- COP ------CZK ------DKK-0.03%0.45%---- EGP ------EUR 96.59% 30.00% 100.00% 100.00% 100.00% 100.00% GBP0.13%6.72%---- HKD-1.03%----- HUF ------IDR ------ILS ------INR ------JPY0.26%20.27%---- KRW ------MUL0.91%----- MXN ------MYR ------NOK0.10%2.52%---- NZD-0.11%----- PEN ------PHP ------PLN ------QAR ------RUB ------SEK0.09%0.32%---- SGD-0.05%----- THB ------TRY ------TWD ------USD1.64%35.87%----

ANIMA Funds Plc 203 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 ZAR ------Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

As at 31 December 2019 Currency ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Zephyr ANIMA Zephyr Real 2024-II 2024-III 2024-IV 2024 - V Global Assets AED -----0.01% ARS ------AUD ----0.60%0.45% BRL ----0.56%0.16% CAD -----0.57% CHF ----0.69%0.21% CLP -----0.02% CNY ----2.06%0.75% COP -----0.01% CZK ---- - DKK -----0.04% EGP -----0.01% EUR 100.00% 100.00% 100.00% 100.00% 91.57% 93.35% GBP ----0.92%1.65% HKD -----1.61%0.25% HUF -----0.01% IDR -----0.04% ILS -----0.01% INR -----0.19% JPY ----1.28%1.49% KRW -----0.26% MUL ----0.02%6.00% MXN -----0.05% MYR -----0.04% NOK -----0.04% NZD -----0.01% PEN -----0.01% PHP -----0.02% PLN -----0.02% QAR -----0.02% RUB ----0.01%0.09% SAR -----0.06% SEK -----0.04% SGD -----0.08% THB -----0.06% TRY -----0.01% TWD -----0.25%

ANIMA Funds Plc 204 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 USD ----3.90%-6.38% ZAR -----0.10% Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 205 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 Currency ANIMA ANIMA ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA

Brightview2025 - I1 Brightview2027-I1 2024-II 2024-III 2024-IV SmartVolatility

EmergingMarkets1 AED -----0.42% ARS -----0.11% AUD ------BRL -----5.26% CAD ------CHF ------CLP -----0.52% CNY -----24.13% COP -----0.26% CZK -----0.09% DKK ------EGP -----0.10% EUR 100.00% 100.00% 100.00% 100.00% 100.00% 29.81% GBP ------HKD ------HUF -----0.21% IDR -----1.36% ILS ------INR -----6.07% JPY ------KRW -----8.25% MUL ------MXN -----1.60% MYR -----1.27% NOK ------NZD ------PEN -----0.24% PHP -----0.67% PKR -----0.02% PLN -----0.62% QAR -----0.65% RUB -----2.76% SAR -----1.83% SEK ------SGD ------THB -----1.82% TRY -----0.35% TWD -----8.24% USD ------ZAR -----3.34%

ANIMA Funds Plc 206 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 Total Exposure 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

1This Fund launched during the financial year ended 31 December 2019.

As at 31 December 2019 Currency ANIMA Zephyr

Global Allocation1 AED 0.00% ARS 0.00% AUD 0.65% BRL 0.05% CAD 0.37% CHF 0.68% CLP 0.01% CNY 1.03% COP 0.00% CZK 0.00% DKK 0.15% EGP 0.01% EUR 94.40% GBP 0.94% HKD 0.37% HUF 0.00% IDR 0.06% ILS 0.02% INR 0.26% JPY 1.09% KRW 0.35% MUL 1.52% MXN 0.02% MYR 0.05% NOK 0.03% NZD 0.04% PEN 0.00% PHP 0.03% PLN 0.01% QAR 0.01% RUB 0.03% SAR 0.02% SEK 0.08% SGD 0.10% THB 0.08% TRY 0.00%

ANIMA Funds Plc 207 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

As at 31 December 2019 TWD 0.35% USD -2.85% ZAR 0.04% Total Exposure 100.00%

1This Fund launched during the financial year ended 31 December 2019.

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Short Term ANIMA Medium ANIMA Global ANIMA Short Term Currency ANIMA Liquidity Bond Term Bond ANIMA Bond Dollar Bond Corporate Bond AED ------ARS ------AUD ----0.09%- BNG ------BRL ------CAD ----0.09%- CHF ----0.01%- CLP ------CNY ------COP ------CZK ------DKK ----0.02%- EGP ------EUR 5.00% 5.00% 5.00% 0.22% 1.47% 4.96% GBP ----0.34%- HKD ------HUF ------IDR ------ILS ------INR ------JPY ----1.20%- KRW ------KWD ------KZT ------MUR ------MXN ------MYR ------NOK ------NZD ------PEN ------

ANIMA Funds Plc 208 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Short Term ANIMA Medium ANIMA Global ANIMA Short Term Currency ANIMA Liquidity Bond Term Bond ANIMA Bond Dollar Bond Corporate Bond PHP ------PKR ------PLN ------PLZ ------QAR ------RON ------RUB ------SAR ------SEK ------SGD ------THB ------TRY ------TWD ------USD - - - 4.78% 1.78% 0.04% VEF ------ZAR ------

As at 31 December 2020 ANIMA Europe ANIMA Asia/Pacific ANIMA Global ANIMA Emerging ANIMA Global

Currency Equity ANIMA U.S. Equity Equity Equity Value1 Markets Equity Selection 2 AED ------ARS ------AUD - - 0.89% 0.06% - 0.09% BNG ------BRL ----0.36%- CAD - - - 0.16% - 0.19% CHF 0.78% 0.11% - 0.08% - 0.14% CLP ----0.02%- CNY - 0.05% - - 1.94% - COP ------CZK ------DKK 0.20% - - 0.03% - 0.02% EGP ----0.01%- EUR 2.55% -0.03% 0.29% 0.98% 0.21% 0.80% GBP 1.13% - - 0.33% 0.02% 0.24% HKD - - 0.30% 0.05% 0.14% 0.05% HUF ------IDR ----0.03%-

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 209 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Europe ANIMA Asia/Pacific ANIMA Global ANIMA Emerging ANIMA Global

Currency Equity ANIMA U.S. Equity Equity Equity Value1 Markets Equity Selection 2 ILS -0.09%---- INR ----0.47%- JPY - - 3.39% 0.69% - 0.35% KRW ----0.77%- KWD ------KZT ------MUR ------MXN ----0.10%- MYR ----0.02%- NOK 0.05% - - 0.03% - - NZD --0.01%--- PEN ------PHP ------PKR ------PLN ----0.03%- PLZ ------QAR ------RON ------RUB 0.03% - - - 0.15% - SAR ----0.01%- SEK 0.26% - - 0.05% - 0.02% SGD --0.12%--- THB ----0.03%- TRY ------TWD ----0.64%- USD - 4.78% - 2.54% -0.13% 3.10% VEF ------ZAR ----0.18%-

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 210 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Global ANIMA Variable ANIMA Hybrid ANIMA Euro ANIMA Star High Currency ANIMA Euro Equity Currencies Rate Bond Bond Government Bond Potential Europe AED ------ARS ------AUD -0.51%---- BNG ------BRL ------CAD -0.01%---- CHF - 0.53% - - - 0.11% CLP ------CNY ------COP ------CZK ------DKK 0.03% 0.54% - - - 0.04% EGP ------EUR 4.79% -0.15% 5.00% 5.00% 5.00% 4.74% GBP 0.14% 0.50% - - - 0.05% HKD -0.49%---- HUF ------IDR ------ILS ------INR ------JPY -0.53%---- KRW ------KWD ------KZT ------MUR ------MXN ------MYR ------NOK 0.02% 0.50% - - - -0.01% NZD -0.56%---- PEN ------PHP ------PKR ------PLN -----0.01% PLZ ------QAR ------RON ------RUB -----0.04% SAR ------SEK 0.02% 0.50% - - - 0.02% SGD ------THB ------

ANIMA Funds Plc 211 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Global ANIMA Variable ANIMA Hybrid ANIMA Euro ANIMA Star High Currency ANIMA Euro Equity Currencies Rate Bond Bond Government Bond Potential Europe TRY ------TWD ------USD -0.48%---- VEF ------ZAR ------

As at 31 December 2020 ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Volatility Emerging Currency ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA Markets AED -----0.02% ARS ------AUD ------BNG ------BRL -----0.16% CAD ------CHF - 0.06% 0.01% - - - CLP -----0.02% CNY -----1.21% COP -----0.01% CZK ------DKK ------EGP ------EUR 4.40% 4.88% 4.83% 5.00% 4.87% 1.90% GBP 0.01% 0.06% 0.02% - - - HKD ------HUF -----0.01% IDR -----0.04% ILS ------INR -----0.29% JPY - - 0.04% - - - KRW -----0.42% KWD -----0.02% KZT ------MUR ------MXN -----0.05% MYR -----0.05% NOK ------NZD ------PEN -----0.01% PHP -----0.02%

ANIMA Funds Plc 212 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Volatility Emerging Currency ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA Markets PKR ------PLN -----0.02% PLZ ------QAR -----0.02% RON ------RUB -----0.09% SAR -----0.08% SEK ------SGD ------THB -----0.06% TRY -----0.01% TWD -----0.39% USD 0.59% - 0.10% - 0.13% - VEF ------ZAR -----0.10%

As at 31 December 2020 ANIMA Credit ANIMA Star High ANIMA Trading ANIMA Active ANIMA Smart ANIMA Flexible

Currency Opportunities Potential Italy Fund1 Selection Dividends Europe Bond AED ------ARS ------AUD - - - 0.02% - - BNG ------BRL - - - 0.01% - - CAD - - - 0.02% - - CHF - - 0.03% 0.05% 0.38% - CLP ------CNY - - 0.08% 0.12% - - COP ------CZK ------DKK - - - 0.01% 0.28% - EGP ------EUR 4.95% 5.00% 4.83% 2.34% 3.34% 4.94% GBP 0.02% - - 0.11% 0.76% 0.01% HKD - - -0.05% 0.01% - - HUF ------IDR ------ILS ------

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Funds Plc 213 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Credit ANIMA Star High ANIMA Trading ANIMA Active ANIMA Smart ANIMA Flexible

Currency Opportunities Potential Italy Fund1 Selection Dividends Europe Bond INR - - -0.06% 0.03% - - JPY - - 0.05% 0.17% - 0.02% KRW - - 0.05% 0.05% - - KWD ------KZT ------MUR - - - 1.16% - - MXN ------MYR ------NOK - - 0.01% - 0.10% - NZD ------PEN ------PHP ------PKR ------PLN -----0.03% PLZ ------QAR ------RON ------RUB - - - 0.01% - - SAR ------SEK - - 0.02% 0.03% 0.14% - SGD ------THB ------TRY ------TWD - - - 0.05% - - USD 0.03% - 0.04% 0.79% - - VEF ------ZAR - - - 0.02% - -

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Funds Plc 214 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Solution ANIMA Solution ANIMA Solution ANIMA Solution Currency 2022-I 2022-II 2022-III 2023-I ANIMA Solution EM ANIMA Italian Bond AED ------ARS ------AUD - - - 0.01% 0.02% - BNG ------BRL ----0.02%- CAD ------CHF 0.02% - 0.02% 0.04% - - CLP ------CNY ----0.14%- COP ------CZK ------DKK 0.01% - 0.01% 0.01% - - EGP ------EUR 4.65% 5.00% 4.38% 3.83% 3.17% 5.00% GBP 0.03% - 0.03% 0.09% 0.03% - HKD ----0.01%- HUF ------IDR ------ILS ------INR ----0.03%- JPY - - - 0.06% 0.13% - KRW ----0.05%- KWD ------KZT ------MUR 0.28% - 0.25% 0.77% 1.18% - MXN ------MYR ------NOK ------NZD ------PEN ------PHP ------PKR ------PLN ------PLZ ------QAR ------RON ------RUB ----0.01%- SAR ------SEK 0.01% - 0.01% 0.02% - - SGD ------THB ------

ANIMA Funds Plc 215 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

In relation to Brightview and Orizzonte funds, the simulation does not take into account any currency exposure included in the equity structured derivatives.

As at 31 December 2020 ANIMA Solution ANIMA Solution ANIMA Solution ANIMA Solution Currency 2022-I 2022-II 2022-III 2023-I ANIMA Solution EM ANIMA Italian Bond TRY ------TWD ----0.04%- USD - - 0.30% 0.17% 0.16% - VEF ------ZAR ----0.01%-

As at 31 December 2020 ANIMA Italian ANIMA High Yield ANIMA Bond ANIMA Global ANIMA Brightview ANIMA Brightview Currency Equity Bond 2022 Opportunities Macro 2023-I 2023-II AED ------ARS ------AUD - - - -0.03% 0.03% 0.01% BNG ------BRL - - - 0.01% - - CAD ------CHF 0.04% - - - 0.08% 0.03% CLP ------CNY - - - 0.08% 0.02% 0.01% COP ------CZK ------DKK ----0.03%0.01% EGP ------EUR 4.93% 4.96% 4.96% 4.83% 3.45% 4.38% GBP 0.03% 0.02% 0.01% 0.01% 0.17% 0.05% HKD ----0.01%- HUF ------IDR ------ILS ------INR - - - 0.02% 0.01% - JPY - - - -0.31% 0.09% 0.03% KRW - - - 0.02% - - KWD ------KZT ------MUR - - - 0.02% 0.24% 0.08% MXN ------MYR ------NOK ----0.01%- NZD ------

ANIMA Funds Plc 216 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

In relation to Brightview and Orizzonte funds, the simulation does not take into account any currency exposure included in the equity structured derivatives.

As at 31 December 2020 ANIMA Italian ANIMA High Yield ANIMA Bond ANIMA Global ANIMA Brightview ANIMA Brightview Currency Equity Bond 2022 Opportunities Macro 2023-I 2023-II PEN ------PHP ------PKR ------PLN ------PLZ ------QAR ------RON ------RUB - - - 0.01% - - SAR - - - 0.01% - - SEK ----0.03%0.01% SGD ------THB ------TRY ------TWD - - - 0.03% 0.01% - USD - 0.02% 0.03% 0.29% 0.82% 0.39% VEF ------ZAR - - - 0.01% - -

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview Currency 2023-III 2023-IV 2024-I 2024-II 2024-III 2024-IV AED ------ARS ------AUD -----0.03% BNG ------BRL ------CAD ------CHF - - - 0.01% 0.14% 0.01% CLP ------CNY - 0.04% - - 0.13% 0.03% COP ------CZK ------DKK ----0.03%- EGP ------EUR 4.11% 4.56% 4.03% 4.90% 3.91% 3.79% GBP - - - 0.02% - 0.06% HKD -----0.01% HUF ------

ANIMA Funds Plc 217 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

In relation to Brightview and Orizzonte funds, the simulation does not take into account any currency exposure included in the equity structured derivatives.

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA Brightview Currency 2023-III 2023-IV 2024-I 2024-II 2024-III 2024-IV IDR ------ILS ------INR - 0.01% - - - 0.01% JPY - - 0.01% - 0.10% 0.11% KRW -----0.01% KWD ------KZT ------MUR - 0.32% 0.71% - - 0.38% MXN ------MYR ------NOK ------NZD ------PEN ------PHP ------PKR ------PLN ------PLZ ------QAR ------RON ------RUB ------SAR ------SEK - - - 0.01% - - SGD ------THB ------TRY ------TWD ----0.03%0.01% USD 0.89% 0.07% 0.25% 0.06% 0.66% 0.55% VEF ------ZAR ------

ANIMA Funds Plc 218 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

In relation to Brightview and Orizzonte funds, the simulation does not take into account any currency exposure included in the equity structured derivatives.

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA ANIMA ANIMA Currency 2024-V 2025-I 2027-I Brightview-II Brightview-III Brightview-IV CAD ----0.05%0.01% CHF ------CLP ------CNY - - 0.01% - - 0.02% COP ------CZK ------DKK ------EGP ------EUR 4.98% 4.20% 4.85% 4.44% 4.37% 4.19% GBP - - 0.01% - - 0.03% HKD -----0.01% HUF ------IDR ------ILS ------INR ------JPY - - 0.01% - - 0.04% KRW -----0.01% KWD ------KZT ------MUR 0.01% 0.70% 0.07% 0.50% 0.23% 0.39% MXN ----0.05%- MYR ------NOK ------NZD ------PEN ------PHP ------PKR ------PLN ------PLZ ------QAR ------RON ------RUB ------SAR ------SEK ------SGD ------THB ------TRY ------

ANIMA Funds Plc 219 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

In relation to Brightview and Orizzonte funds, the simulation does not take into account any currency exposure included in the equity structured derivatives.

As at 31 December 2020 ANIMA Brightview ANIMA Brightview ANIMA Brightview ANIMA ANIMA ANIMA Currency 2024-V 2025-I 2027-I Brightview-II Brightview-III Brightview-IV TWD -----0.01% USD 0.01% 0.10% 0.05% 0.06% 0.25% 0.28% VEF ------ZAR ------

As at 31 December 2020 ANIMA Orizzonte Europa 2023 - ANIMA ANIMA ANIMA ANIMA ANIMA Orizzonte Rendimento

Currency Brightview-V1 Brightview-VI1 Brightview-VII1 Brightview-VIII1 Europa 2022 Bilanciato AED ------ARS ------AUD0.02%----- BNG ------BRL ------CAD0.01%----- CHF0.01%----- CLP ------CNY0.03%----- COP ------CZK ------DKK ------EGP ------EUR 4.20% 4.55% 5.00% 5.00% 4.99% 4.99% GBP 0.05% - - - 0.01% 0.01% HKD0.01%----- HUF ------IDR ------ILS ------INR0.01%----- JPY0.08%0.01%---- KRW0.01%----- KWD ------KZT ------MUR0.22%0.38%---- MXN ------MYR ------NOK ------

ANIMA Funds Plc 220 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

In relation to Brightview and Orizzonte funds, the simulation does not take into account any currency exposure included in the equity structured derivatives.

As at 31 December 2020 ANIMA Orizzonte Europa 2023 - ANIMA ANIMA ANIMA ANIMA ANIMA Orizzonte Rendimento

Currency Brightview-V1 Brightview-VI1 Brightview-VII1 Brightview-VIII1 Europa 2022 Bilanciato NZD ------PEN ------PHP ------PKR ------PLN ------PLZ ------QAR ------RON ------RUB ------SAR ------SEK ------SGD ------THB ------TRY ------TWD0.01%----- USD0.34%0.06%---- VEF ------ZAR ------

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. As at 31 December 2020 ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Zephyr Currency Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 ANIMA Defensive Global AED ------ARS ------AUD - 0.14% - - 0.01% 0.02% BNG ------BRL - 0.01% - - - 0.03% CAD - - - 0.01% 0.01% - CHF 0.01% - 0.02% - 0.02% 0.04% CLP ------CNY - 0.25% - 0.05% 0.03% 0.11% COP ------CZK ------DKK - - - 0.07% 0.01% - EGP ------

ANIMA Funds Plc 221 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

In relation to Brightview and Orizzonte funds, the simulation does not take into account any currency exposure included in the equity structured derivatives.

As at 31 December 2020 ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Zephyr Currency Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 ANIMA Defensive Global EUR 4.03% 3.86% 4.21% 4.23% 4.42% 4.58% GBP 0.03% - 0.03% - 0.07% 0.02% HKD ------0.09% HUF ------IDR ------ILS ------INR - 0.02% - - 0.01% - JPY 0.46% 0.28% 0.02% 0.02% 0.10% 0.08% KRW - 0.04% - 0.01% 0.01% - KWD ------KZT ------MUR 0.29% 0.18% 0.38% 0.40% - - MXN ------MYR -0.01%---- NOK ------NZD -0.02%---- PEN ------PHP ------PKR ------PLN ------PLZ ------QAR ------RON ------RUB ------SAR ------SEK 0.01% - - - 0.01% - SGD ------THB ------TRY ------TWD ----0.01%- USD 0.17% 0.19% 0.34% 0.21% 0.29% 0.21% VEF ------ZAR ------

ANIMA Funds Plc 222 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Zephyr ANIMA Zephyr ANIMA Zephyr Real ANIMA

Currency Global Allocation New1 Assets International Bond AED ---- ARS ---- AUD 0.02% - 0.03% 0.09% BNG ---- BRL - 0.01% 0.01% - CAD 0.02% - 0.04% 0.07% CHF 0.03% - 0.01% - CLP ---- CNY 0.02% 0.06% 0.04% - COP ---- CZK ---- DKK 0.01% - - 0.01% EGP ---- EUR 4.51% 4.27% 4.54% 1.56% GBP 0.05% - 0.09% 0.36% HKD 0.01% - 0.01% - HUF ---- IDR ---- ILS ---- INR 0.01% 0.01% 0.01% - JPY 0.06% - 0.08% 0.93% KRW 0.01% 0.02% 0.02% - KWD ---- KZT ---- MUR 0.08% 0.08% 0.31% - MXN ---- MYR ---- NOK ---- NZD ---- PEN ---- PHP ---- PKR ---- PLN ---- PLZ ---- QAR ---- RON ---- RUB ---- SAR ---- SEK 0.01% - - 0.01%

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 223 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2020 ANIMA Zephyr ANIMA Zephyr ANIMA Zephyr Real ANIMA

Currency Global Allocation New1 Assets International Bond SGD ---- THB ---- TRY ---- TWD 0.01% 0.02% 0.01% - USD 0.15% 0.52% -0.20% 1.97% VEF ---- ZAR - 0.01% - -

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2019 ANIMA Global ANIMA Short Term ANIMA Currency ANIMA Bond Dollar Bond Corporate Bond Europe Equity ANIMA U.S. Equity AED ----- AUD - 0.06% - - - BGN ----- BRL ----- CAD - 0.07% - - - CHF - 0.01% - 0.70% 0.07% CLP ----- CNY ----0.04% COP ----- CZK ----- DKK - 0.02% - 0.15% - EGP ----- EUR ----- GBP - 0.30% - 1.19% - HKD ----- HUF ----- IDR ----- ILS ----0.07% INR ----- JPY - 1.26% - - - KRW ----- MUL ----- MXN ----- MYR -----

ANIMA Funds Plc 224 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2019 ANIMA Global ANIMA Short Term ANIMA Currency ANIMA Bond Dollar Bond Corporate Bond Europe Equity ANIMA U.S. Equity NOK - - - 0.07% - NZD ----- PEN ----- PHP ----- PLN ----- QAR ----- RUB ----- SAR ----- SEK - 0.01% - 0.21% - SGD ----- THB ----- TRY ----- TWD ----- USD 4.53% 1.67% 0.03% 0.01% 4.58% ZAR ----- MUL -----

As at 31 December 2019 ANIMA ANIMA ANIMA Emerging ANIMA Global ANIMA Variable Currency Asia/Pacific Equity Global Equity Markets Equity ANIMA Euro Equity Currencies Rate Bond AED ------ARS ------AUD 0.79% 0.11% - - 0.53% - BRL --0.52%--- CAD - 0.24% - - 0.02% - CHF - 0.15% - 0.01% 0.56% - CLP --0.03%--- CNY - 0.02% 1.82% - - - COP ------CZK ------DKK - 0.04% - 0.04% 0.73% - EGP ------EUR ------GBP - 0.26% - 0.04% 0.54% - HKD 0.29% 0.05% 0.01% - 0.61% - HUF ------IDR - - 0.07% - - - ILS ------INR - - 0.39% - - - JPY 3.09% 0.39% - - 0.58% - KRW --0.77%---

ANIMA Funds Plc 225 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2019 ANIMA ANIMA ANIMA Emerging ANIMA Global ANIMA Variable Currency Asia/Pacific Equity Global Equity Markets Equity ANIMA Euro Equity Currencies Rate Bond MXN --0.12%--- MYR --0.04%--- NOK - 0.03% - - 0.49% - NZD ----0.56%- PEN ------PHP ------PLN - - 0.03% - - - QAR ------RUB --0.25%--- SEK - 0.04% - - 0.54% - SGD0.16%----- THB - - 0.06% - - - TRY ------TWD - - 0.52% - - - USD - 2.94% -0.04% 0.02% 0.27% - ZAR - - 0.21% - - - PKR ------SAR - - 0.01% - - -

As at 31 December 2019 ANIMA Hybrid ANIMA Euro ANIMA Star High ANIMA Star Bond ANIMA Smart ANIMA Credit Currency Bond Government Bond Potential Europe Volatility USA Opportunities BRL - - - 0.06% - - CHF --0.08%--- DKK --0.01%--- EUR ------GBP 0.01% 0.01% -0.10% -0.16% - - HUF - - - 0.07% - - NOK - - -0.01% 0.24% - - SEK - - -0.02% - - - USD 0.02% 0.01% - -0.33% 0.10% 0.01% MUL - - - 0.09% - -

ANIMA Funds Plc 226 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2019 Currency ANIMATesoreria ANIMA Star High ANIMA Star High ANIMA Flexible ANIMA Smart ANIMA Smart

Imprese1 Potential Italy Potential Global Income Volatility Global Dividends Europe AUD ----0.02%-- BRL --0.01%--- CAD --0.04%--- CHF - - 0.01% 0.02% 0.01% 0.37% CNY --0.19%--- DKK - - 0.01% - - 0.21% EUR ------GBP - - 0.02% -0.02% 0.01% 1.19% HKD - - -0.09% - - - HUF ----0.01%-- IDR ------INR - - -0.03% - - - JPY - - 0.04% -0.02% 0.02% - KRW ------MUL ------MXN - - - 0.13% - - NOK - - 0.01% - - 0.05% NZD ------RUB ----0.01%-- SEK -----0.15% TWD ------USD - - -0.10% 0.04% 0.07% - ZAR - - - 0.02% - -

1 This Fund was terminated during the financial year ended 31 December 2019.

As at 31 December 2019 Currency ANIMA Solution ANIMA Solution ANIMA Solution ANIMA Solution ANIMA Italian ANIMA Global 2022-I 2022-II 2022-III 2023-I Equity Macro BRL -----0.02% CHF 0.09% - 0.03% 0.11% - - CNY -----0.03% COP -----0.01% DKK 0.02% - 0.02% 0.03% - - EUR ------GBP 0.15% - 0.09% 0.22% - - HUF -----0.01% IDR -----0.01% INR -----0.01% JPY - - - 0.02% - - KRW -----0.01%

ANIMA Funds Plc 227 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

MXN -----0.02% MYR -----0.01% NOK 0.01% - - 0.02% - - PLN -----0.02% RUB -----0.01% SEK 0.03% - 0.01% 0.05% - - THB -----0.01% TWD -----0.01% USD - - 0.95% 0.04% - 0.26% ZAR -----0.02% MUL 0.63% - 0.60% 1.41% - -

As at 31 December 2019 ANIMA Brightview ANIMA Brightview ANIMA Active ANIMA Brightview ANIMA Brightview ANIMA Brightview Currency 2023-I 2023-II Selection 2023-III 2023-IV 2024-I AUD --0.05%--- BRL - - 0.05% - - - CAD --0.02%--- CHF --0.04%--- CNY --0.24%--- DKK --0.01%--- EUR ------GBP --0.08%--- HKD --0.02%--- IDR - - 0.01% - - - ILS - - 0.01% - - - INR - - 0.05% - - - JPY - - 0.20% - - - KRW --0.09%--- MXN --0.01%--- NOK --0.01%--- RUB --0.02%--- SEK - - 0.01% - - - SGD --0.01%--- THB - - 0.01% - - - TWD - - 0.06% - - - USD --1.56%--- ZAR - - 0.02% - - - MUL --0.64%---

ANIMA Funds Plc 228 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

As at 31 December 2019 ANIMA Orizzonte ANIMA Orizzonte ANIMA Smart ANIMA Italian Bond ANIMA Bond ANIMA Medium Currency Europa 2022 Europa 2023 - Volatility Europe 2022 Opportunities Term Bond Rendimento Bilanciato AED ------ARS ------AUD ------BRL ------CAD ------CHF --0.03%--- CLP ------CNY ------COP ------CZK ------DKK ------EGP ------EUR ------GBP --0.04%--- HKD ------HUF ------IDR ------ILS ------INR ------JPY ------KRW ------MXN ------MYR ------NOK ------NZD ------PEN ------PHP ------PLN ------QAR ------RUB ------SEK ------SGD ------THB ------TRY ------TWD ------USD ----0.01%- ZAR ------MUL ------PKR ------BGN ------

ANIMA Funds Plc 229 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

RON ------SAR ------

As at 31 December 2019 Currency ANIMA Short Term ANIMA Life Bond ANIMA Liquidity ANIMA Smart ANIMA High Yield ANIMA Defensive Bond Volatility Italy Bond AED ------ARS ------AUD -----0.01% BRL ------CAD ------CHF ------CLP ------CNY ------COP ------CZK ------DKK ------EGP ------EUR ------GBP ----0.03%0.03% HKD ------HUF ------IDR ------ILS ------INR ------JPY -----0.07% KRW ------MXN ------MYR ------NOK -----0.01% NZD ------PEN ------PHP ------PLN ------QAR ------RUB ------SEK ------SGD ------THB ------TRY ------TWD ------USD ----0.02%0.14% ZAR ------MUL ------

ANIMA Funds Plc 230 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

PKR ------BGN ------RON ------SAR ------

As at 31 December 2019 ANIMA ANIMA ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte Currency Infrastructure International Bond Sostenibile 2023 Benessere 2023 Energia 2023 Consumi 2023 AED ------ARS ------AUD0.01%0.10%---- BRL ------CAD0.01%0.08%---- CHF ------CLP ------CNY0.05%----- COP ------CZK ------DKK -0.02%---- EGP ------EUR ------GBP0.01%0.32%---- HKD-0.05%----- HUF ------IDR ------ILS ------INR ------JPY0.01%0.96%---- KRW ------MXN ------MYR ------NOK -0.12%---- NZD-0.01%----- PEN ------PHP ------PLN ------QAR ------RUB ------SEK -0.02%---- SGD ------THB ------TRY ------TWD ------USD0.08%1.71%----

ANIMA Funds Plc 231 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

ZAR ------MUL0.04%----- PKR ------BGN ------RON ------SAR ------

As at 31 December 2019 Currency ANIMA Flexible ANIMA Solution EM ANIMA Zephyr ANIMA Zephyr Real ANIMA Brightview ANIMA Brightview Bond Global Assets 2024-II 2024-III AED ------ARS ------AUD - 0.03% 0.03% 0.02% - - BRL 0.07% 0.07% 0.03% 0.01% - - CAD - - - 0.03% - - CHF - - 0.03% 0.01% - - CLP0.03%----- CNY - 0.29% 0.10% 0.04% - - COP ------CZK0.05%----- DKK ------EGP ------EUR ------GBP -0.27% 0.01% 0.04% 0.08% - - HKD - 0.01% -0.08% 0.01% - - HUF0.18%----- IDR -0.01%---- ILS -0.01%---- INR - 0.07% - 0.01% - - JPY - 0.14% 0.06% 0.07% - - KRW - 0.12% - 0.01% - - MUL - 2.67% - 0.29% - - MXN -0.01%---- MYR0.24%0.01%---- NOK -0.01%---- NZD ------PEN ------PHP0.02%----- PLN ------QAR ------RUB -0.03%---- SEK -0.01%---- SGD -0.01%---- THB -0.01%----

ANIMA Funds Plc 232 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

TRY ------TWD 0.39% 0.08% - 0.01% - - USD - 0.12% 0.19% 0.30% - - ZAR0.11%0.03%----

As at 31 December 2019 Currency ANIMA Brightview ANIMA Brightview ANIMA ANIMA 2024-IV 2024-V Brightview2025-I1 Brightview2027-I1 EUR ----

1 This Fund launched during the financial year ended 31 December 2019.

As at 31 December 2019 ANIMABrightview-II ANIMABrightview-III ANIMABrightview-IV ANIMA ANIMA Currency 1 1 1 SmartVolatility ZephyrGlobal

Emerging1 Allocation1 AED - - - 0.02% - ARS - - - 0.01% - AUD ----0.03% BRL - - - 0.25% - CAD ----0.02% CLP ---0.02%- CNY - - - 1.15% 0.05% COP - - - 0.01% - DKK ----0.01% EUR ----- GBP ----0.04% HKD ----0.02% HUF - - - 0.01% - IDR ---0.06%- ILS ----- INR - - - 0.29% 0.01% JPY ----0.05% KRW - - - 0.39% 0.02% MUL ----0.07% MXN ---0.08%- MYR ---0.06%- PEN - - - 0.01% - PHP - - - 0.03% - PLN - - - 0.03% - QAR ---0.03%- RUB - - - 0.13% - SAR - - - 0.09% - SGD -----

ANIMA Funds Plc 233 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(a) Currency risk (continued)

The tables below summarise the impact on the Funds’ net asset value of a strengthening of the euro by 5% in relation to all other currencies, with all other variables held constant.

THB - - - 0.09% - TRY - - - 0.02% - TWD 0.02% 0.02% 0.02% 0.39% 0.02% USD 0.14% 0.14% 0.14% - 0.14% ZAR - - - 0.16% -

This Fund launched during the financial year ended 31 December 2019.

ANIMA Funds Plc 234 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(b) Interest rate risk

The tables below summarise the interest rate risk exposure of the Funds by bucket of maturity, which is calculated with the inclusion of interest rate derivatives. The values in the table below are expressed in term of effective interest rate duration.

As at 31 December 2020 Interest Rate Exposure Duration Less than 1-3 3-5 5-7 7-10 Greater than Total Portfolio 1 Year Years Years Years Years 10 Years Exposure ANIMALiquidity 0.33-----0.33 ANIMA Short Term Bond - 1.81 - - - - 1.81 ANIMA Medium Term Bond - 0.33 0.60 0.76 1.35 5.38 8.42 ANIMABondDollar ------ANIMA Global Bond - 0.42 0.64 0.67 1.05 5.63 8.41

ANIMA Life Bond4 ------ANIMA Short Term Corporate Bond 0.09 0.56 0.05 0.02 - 0.27 0.99 ANIMAEuropeEquity ------ANIMAU.S.Equity ------ANIMA Asia/Pacific Equity ------

ANIMA Global Equity Value1 ------ANIMAEmergingMarketsEquity0.01-----0.01

ANIMA Global Selection 2 ------ANIMAEuroEquity ------ANIMA Global Currencies 0.24 0.36 - - - - 0.60 ANIMA Variable Rate Bond 0.10 -0.15 0.10 0.01 - - 0.06 ANIMAHybridBond ----0.063.733.79 ANIMA Euro Government Bond 0.05 0.07 0.35 0.66 0.88 5.68 7.69 ANIMAStarHighPotentialEurope------ANIMA Star Bond 0.06 0.27 0.65 1.42 -1.35 2.10 3.15 ANIMA Smart Volatility Europe ------ANIMA Smart Volatility Global ------ANIMA Smart Volatility Italy ------ANIMA Smart Volatility USA ------ANIMA Smart Volatility Emerging Markets ------ANIMACreditOpportunities------ANIMAStarHighPotentialItaly------

ANIMA Trading Fund3 ------ANIMAActiveSelection ------ANIMA Smart Dividends Europe 2.50 0.15 - - - 0.09 2.74 ANIMA Flexible Bond 0.06 0.27 -1.11 0.66 -0.62 0.91 0.17

ANIMA Flexible Income4 ------

ANIMA Infrastructure4 ------ANIMASolution2022-I ------ANIMASolution2022-II ------ANIMASolution2022-III ------ANIMASolution2023-I ------ANIMASolutionEM ------ANIMA Italian Bond 0.05 0.07 0.91 0.61 0.38 3.74 5.76 ANIMAItalianEquity ------

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

3 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

4 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA Funds Plc 235 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(b) Interest rate risk (continued)

As at 31 December 2020 Interest Rate Exposure Duration Less than 1-3 3-5 5-7 7-10 Greater than Total Portfolio 1 Year Years Years Years Years 10 Years Exposure ANIMA High Yield Bond - 0.04 0.43 0.79 0.88 1.35 3.49 ANIMA Bond 2022 Opportunities ------ANIMA Global Macro - - 0.22 2.52 5.48 0.23 8.45 ANIMABrightview2023-I -----0.800.80 ANIMA Brightview 2023-II - 1.42 -0.24 - -0.40 0.28 1.06 ANIMA Brightview 2023-III - 2.13 -0.21 -0.06 -1.21 1.90 2.55 ANIMA Brightview 2023-IV - 2.48 -0.30 -0.05 -1.58 0.50 1.05 ANIMA Brightview 2024-I - 0.27 2.31 -0.49 -1.58 0.51 1.02 ANIMA Brightview 2024-II - - 2.95 -0.50 -1.94 0.10 0.61 ANIMA Brightview 2024-III - -0.03 2.83 -0.46 -1.39 0.40 1.35 ANIMA Brightview 2024-IV - -0.07 3.27 -0.43 -1.27 0.53 2.03 ANIMA Brightview 2024-V - - 3.26 -0.34 -0.44 -1.16 1.32 ANIMA Brightview 2025-I 0.01 0.03 4.26 -0.51 -0.73 -1.08 1.98 ANIMA Brightview 2027-I - -0.01 0.01 5.03 -0.62 -1.07 3.34 ANIMA Brightview-II 0.01 0.03 4.01 -0.46 -0.80 -1.26 1.53 ANIMA Brightview-III - 0.08 3.98 -0.46 -0.79 -1.24 1.57 ANIMA Brightview-IV 0.01 0.03 4.91 -0.47 -1.60 -1.11 1.77

ANIMA Brightview-V2 0.02 0.04 0.45 4.38 -1.94 -0.83 2.12

ANIMA Brightview-VI2 0.10 0.09 0.01 5.23 -2.06 -1.33 2.04

ANIMA Brightview-VII2 - 0.07 - 5.36 -1.98 -1.40 2.05

ANIMA Brightview-VIII2 0.28 - - 0.06 -0.08 -0.06 0.20 ANIMA Orizzonte Europa 2022 -0.16 1.51 -0.25 - - 0.02 1.12 ANIMA Orizzonte Europa 2023 - -0.08 1.90 -0.25 -0.42 - 0.02 1.17 Rendimento Bilanciato ANIMA Orizzonte Sostenibile 2023 - 1.84 -0.30 -0.26 - 1.14 2.42 ANIMA Orizzonte Benessere 2023 - 2.16 -0.32 -0.50 - 1.29 2.63 ANIMA Orizzonte Consumi 2023 - 2.43 -0.13 -0.47 - 1.09 2.92 ANIMA Orizzonte Energia 2023 - 2.13 -0.18 -0.45 - 1.40 2.90 ANIMADefensive ------ANIMAZephyrGlobal ------ANIMAZephyrGlobalAllocation------

ANIMA Zephyr New2 ------ANIMA Zephyr Real Assets ------ANIMA International Bond 0.09 0.26 0.36 1.51 -0.08 5.11 7.25

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 236 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(b) Interest rate risk (continued)

As at 31 December 2019 Interest Rate Exposure Duration Less than 1-3 3-5 5-7 7-10 Greater than Total Portfolio 1 Year Years Years Years Years 10 Years Exposure AnimaLiquidity 0.38%-----0.38% Anima Short Term Bond 0.01% 1.81% - - - - 1.82% Anima Medium Term Bond - 0.34% 0.62% 0.78% 1.29% 4.79% 7.82% Anima Bond Dollar 0.01% 0.59% 0.76% 0.67% 0.67% 3.60% 6.30% Anima Global Bond 0.01% 0.41% 0.61% 0.65% 0.98% 5.20% 7.86% Anima Life Bond 0.10% 0.85% 0.83% 0.50% 0.07% - 2.35% Anima Short Term Corporate Bond 0.05% 0.72% 0.16% 0.02% 0.01% 0.18% 1.14% AnimaEuropeEquity ------AnimaU.S.Equity ------Anima Asia/Pacific Equity ------Anima Global Equity ------AnimaEmergingMarketsEquity------Anima Global Currencies 0.37% 0.13% - - - - 0.50% Anima Variable Rate Bond 0.08% -0.23% 0.05% 0.06% -0.29% - -0.33% Anima Hybrid Bond 0.00% 0.03% 0.04% - 0.26% 3.41% 3.74% Anima Euro Government Bond 0.06% 0.25% 0.97% 1.45% 0.33% 4.43% 7.49% AnimaStarHighPotentialEurope0.22%-----0.22% Anima Star Bond 0.00% 0.34% 0.55% 0.87% -1.44% 3.04% 3.36% Anima Smart Volatility Europe 0.30% 0.36% - - - - 0.66% Anima Smart Volatility Global 0.29% 0.35% - - - - 0.64% Anima Smart Volatility Italy 0.32% 0.31% - - - - 0.63% Anima Smart Volatility USA 0.33% 0.22% - - - - 0.55% Anima Smart Volatility Emerging Markets 0.24% 0.41% - - - - 0.65% Anima Credit Opportunities 0.03% 0.40% 0.91% 0.10% 0.06% 0.50% 2.00% Anima Tesoreria Imprese ------Anima Star High Potential Italy 0.05% 0.72% - - - 0.09% 0.86% Anima Star High Potential Global 0.10% 0.01% 0.01% - - 0.17% 0.29% Anima Active Selection 0.01% 0.02% 0.01% 0.02% - 0.13% 0.19% Anima Smart Dividends Europe 0.07% 0.07% - - - - 0.14% Anima Flexible Bond 0.03% 0.36% 0.41% 1.07% 0.03% 1.14% 3.04% Anima Flexible Income 0.08% 0.13% 0.62% -0.86% -1.30% 2.58% 1.25% Anima Infrastructure 0.10% - - 0.06% - 0.01% 0.17% ANIMA Solution 2022-I 0.05% 0.67% 0.35% - - - 1.07% Anima Solution 2022-II 0.07% 0.83% 0.28% - - - 1.18% Anima Solution 2022-III - 0.99% 0.20% - - - 1.19% Anima Solution 2023 I - 0.05% 0.04% 0.04% - 0.23% 0.36% Anima Solution EM - 0.03% 0.03% 0.05% - 0.25% 0.36% Anima Italian Bond 0.15% 0.05% 1.15% 0.61% -0.78% 3.29% 4.47% Anima Italian Equity ------0.00% Anima High Yield Bond - 0.08% 0.36% 0.70% 0.61% 1.88% 3.63% Anima Bond 2022 Opportunities 0.07% 0.73% 0.61% 0.01% - 0.09% 1.51% Anima Global Macro 0.28% 0.01% 0.04% 0.74% 2.60% 0.91% 4.58% Anima Brightview 2023-I ------Anima Brightview 2023-II - -0.12% 2.40% 0.00% 0.00% -0.72% 1.56%

ANIMA Funds Plc 237 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(b) Interest rate risk (continued)

As at 31 December 2019 Interest Rate Exposure Duration Less than 1-3 3-5 5-7 7-10 Greater than Total Portfolio 1 Year Years Years Years Years 10 Years Exposure Anima Brightview 2023-III - 0.02 2.55% -0.06% -0.42% -0.96% 1.13% Anima Brightview 2023-IV - 0.02 3.00% -0.05% -0.60% -1.49% 0.88% Anima Brightview 2024-I - 0.02 3.44% -0.63% -0.59% -1.47% 0.77% Anima Brightview 2024-II - 0.03 3.65% -0.64% -0.55% -1.50% 0.99% Anima Brightview 2024-III 0.01 0.03 3.58% -0.62% -0.42% -1.33% 1.25% Anima Brightview 2024-IV 0.02 0.03 3.87% -0.56% -0.49% -1.13% 1.74% Anima Brightview 2024 - V 0.01 0.03 4.04% -0.51% -0.79% -1.21% 1.57% Anima Brightview 2025 - I - - -0.04% 4.47% -0.95% -1.73% 1.75% Anima Brightview 2027-I - - -0.05% -0.08% 5.00% -1.56% 3.31% Anima Brightview II 0.23% - - 0.01% -0.01% -0.02% 0.21% Anima Brightview III 0.23% - - 0.01% -0.01% -0.02% 0.21% Anima Brightview IV 0.09% - - 3.57% -1.47% -7.75% -5.56% Anima Orizzonte Europa 2022 0.01% 2.15% -0.63% 0.00% - 0.02% 1.55% Anima Orizzonte Europa 2023 - Rendimento Bilanciato 0.01% -0.36% 2.39% -0.53% - 0.02% 1.53% Anima Orizzonte Sostenibile 2023 - -0.02% 2.23% -0.34% - - 1.87% Anima Orizzonte Benessere 2023 - - 2.46% -0.66% - - 1.80% Anima Orizzonte Consumi 2023 - - 2.95% -0.69% - - 2.26% Anima Orizzonte Energia 2023 - - 2.68% -0.64% - - 2.04% Anima Defensive 0.18% 0.19% 0.22% 0.24% 0.20% 1.17% 2.20% Anima Zephyr Global 0.13% 0.23% 1.24% 0.53% - 0.00% 2.13% Anima Zephyr Global Allocation 0.08% 0.29% 1.17% 0.39% 0.76% 0.00% 2.69% Anima Zephyr Real Assets 0.06% 0.28% 1.28% 0.47% 0.23% 0.23% 2.55% Anima International Bond 0.04% 0.10% 0.60% -0.65% 0.70% 5.41% 6.20%

ANIMA Funds Plc 238 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(b) Interest rate risk (continued)

The tables below summarise the interest rate risk exposure of the Funds by bucket of maturity, which is calculated with the inclusion of interest rate FDIs. The percentages in the table below are percentage of the NAV of the Funds.

As at 31 December 2020 Sensitivity of 100 Basis Point increase in Interest Rates Less than 1-3 3-5 5-7 7-10 Greather Total 1 Year Years Years Years Years than Exposure Portfolio 10 Years ANIMALiquidity -0.33%------0.33% ANIMA Short Term Bond - -1.81% - - - - -1.81% ANIMA Medium Term Bond - -0.33% -0.60% -0.76% -1.35% -5.38% -8.42% ANIMABondDollar ------ANIMA Global Bond - -0.42% -0.64% -0.67% -1.05% -5.63% -8.41%

ANIMA Life Bond4 ------ANIMA Short Term Corporate Bond -0.09% -0.56% -0.05% -0.02% - -0.27% -0.99% ANIMAEuropeEquity ------ANIMAU.S.Equity ------ANIMA Asia/Pacific Equity ------

ANIMA Global Equity Value1 ------ANIMAEmergingMarketsEquity-0.01%------0.01%

ANIMA Global Selection 2 ------ANIMAEuroEquity ------ANIMA Global Currencies -0.24% -0.36% - - - - -0.60% ANIMA Variable Rate Bond -0.10% 0.15% -0.10% -0.01% - - -0.06% ANIMAHybridBond -----0.06%-3.73%-3.79% ANIMA Euro Government Bond -0.05% -0.07% -0.35% -0.66% -0.88% -5.68% -7.69% ANIMAStarHighPotentialEurope------ANIMA Star Bond -0.06% -0.27% -0.65% -1.42% 1.35% -2.10% -3.15% ANIMA Smart Volatility Europe ------ANIMA Smart Volatility Global ------ANIMA Smart Volatility Italy ------ANIMA Smart Volatility USA ------ANIMA Smart Volatility Emerging Markets ------ANIMACreditOpportunities------ANIMAStarHighPotentialItaly------

ANIMA Trading Fund3 ------ANIMAActiveSelection ------ANIMA Smart Dividends Europe -2.50% -0.15% - - - -0.09% -2.74% ANIMA Flexible Bond -0.06% -0.27% 1.11% -0.66% 0.62% -0.91% -0.17%

ANIMA Flexible Income4 ------

ANIMA Infrastructure4 ------ANIMASolution2022-I ------ANIMASolution2022-II ------ANIMASolution2022-III ------ANIMASolution2023-I ------ANIMASolutionEM ------ANIMA Italian Bond -0.05% -0.07% -0.91% -0.61% -0.38% -3.74% -5.76% ANIMAItalianEquity ------

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

3 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

4 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA Funds Plc 239 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(b) Interest rate risk (continued)

As at 31 December 2020 Sensitivity of 100 Basis Point increase in Interest Rates Less than 1-3 3-5 5-7 7-10 Greather Total 1 Year Years Years Years Years than Exposure Portfolio 10 Years ANIMA High Yield Bond - -0.04% -0.43% -0.79% -0.88% -1.35% -3.49% ANIMA Bond 2022 Opportunities ------ANIMA Global Macro - - -0.22% -2.52% -5.48% -0.23% -8.45% ANIMABrightview2023-I ------0.80%-0.80% ANIMA Brightview 2023-II - -1.42% 0.24% - 0.40% -0.28% -1.06% ANIMA Brightview 2023-III - -2.13% 0.21% 0.06% 1.21% -1.90% -2.55% ANIMA Brightview 2023-IV - -2.48% 0.30% 0.05% 1.58% -0.50% -1.05% ANIMA Brightview 2024-I - -0.27% -2.31% 0.49% 1.58% -0.51% -1.02% ANIMA Brightview 2024-II - - -2.95% 0.50% 1.94% -0.10% -0.61% ANIMA Brightview 2024-III - 0.03% -2.83% 0.46% 1.39% -0.40% -1.35% ANIMA Brightview 2024-IV - 0.07% -3.27% 0.43% 1.27% -0.53% -2.03% ANIMA Brightview 2024-V - - -3.26% 0.34% 0.44% 1.16% -1.32% ANIMA Brightview 2025-I -0.01% -0.03% -4.26% 0.51% 0.73% 1.08% -1.98% ANIMA Brightview 2027-I - 0.01% -0.01% -5.03% 0.62% 1.07% -3.34% ANIMA Brightview-II -0.01% -0.03% -4.01% 0.46% 0.80% 1.26% -1.53% ANIMA Brightview-III - -0.08% -3.98% 0.46% 0.79% 1.24% -1.57% ANIMA Brightview-IV -0.01% -0.03% -4.91% 0.47% 1.60% 1.11% -1.77%

ANIMA Brightview-V2 -0.02% -0.04% -0.45% -4.38% 1.94% 0.83% -2.12%

ANIMA Brightview-VI2 -0.10% -0.09% -0.01% -5.23% 2.06% 1.33% -2.04%

ANIMA Brightview-VII2 - -0.07% - -5.36% 1.98% 1.40% -2.05%

ANIMA Brightview-VIII2 -0.28% - - -0.06% 0.08% 0.06% -0.20% ANIMA Orizzonte Europa 2022 0.16% -1.51% 0.25% - - -0.02% -1.12% ANIMA Orizzonte Europa 2023 - 0.08% -1.90% 0.25% 0.42% - -0.02% -1.17% Rendimento Bilanciato ANIMA Orizzonte Sostenibile 2023 - -1.84% 0.30% 0.26% - -1.14% -2.42% ANIMA Orizzonte Benessere 2023 - -2.16% 0.32% 0.50% - -1.29% -2.63% ANIMA Orizzonte Consumi 2023 - -2.43% 0.13% 0.47% - -1.09% -2.92% ANIMA Orizzonte Energia 2023 - -2.13% 0.18% 0.45% - -1.40% -2.90% ANIMADefensive ------ANIMAZephyrGlobal ------ANIMAZephyrGlobalAllocation------

ANIMA Zephyr New2 ------ANIMA Zephyr Real Assets ------ANIMA International Bond -0.09% -0.26% -0.36% -1.51% 0.08% -5.11% -7.25%

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 240 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(b) Interest rate risk (continued)

As at 31 December 2019 Sensitivity of 100 Basis Point increase in Interest Rates Less than 1-3 3-5 5-7 7-10 Greather Total 1 Year Years Years Years Years than Exposure Portfolio 10 Years ANIMALiquidity 0.38%-----0.38% ANIMA Short Term Bond 0.01% 1.81% - - - - 1.82% ANIMA Medium Term Bond - 0.34% 0.62% 0.78% 1.29% 4.79% 7.82% ANIMA Bond Dollar 0.01% 0.59% 0.76% 0.67% 0.67% 3.60% 6.30% ANIMA Global Bond 0.01% 0.41% 0.61% 0.65% 0.98% 5.20% 7.86% ANIMA Life Bond 0.10% 0.85% 0.83% 0.50% 0.07% - 2.35% ANIMA Short Term Corporate Bond 0.05% 0.72% 0.16% 0.02% 0.01% 0.18% 1.14% ANIMAEuropeEquity ------ANIMAU.S.Equity ------ANIMA Asia/Pacific Equity ------ANIMAGlobalEquity ------ANIMAEmergingMarketsEquity------ANIMA Global Currencies 0.37% 0.13% - - - - 0.50% ANIMA Variable Rate Bond 0.08% 0.23% 0.05% 0.06% 0.29% - -0.33% ANIMA Hybrid Bond - 0.03% 0.04% - 0.26% 3.41% 3.74% ANIMA Euro Government Bond 0.06% 0.25% 0.97% 1.45% 0.33% 4.43% 7.49% ANIMAStarHighPotentialEurope0.22%-----0.22% ANIMA Star Bond - 0.34% 0.55% 0.87% 1.44% 3.04% 3.36% ANIMA Smart Volatility Europe 0.30% 0.36% - - - - 0.66% ANIMA Smart Volatility Global 0.29% 0.35% - - - - 0.64% ANIMA Smart Volatility Italy 0.32% 0.31% - - - - 0.63% ANIMA Smart Volatility USA 0.33% 0.22% - - - - 0.55% ANIMA Smart Volatility Emerging Markets 0.24% 0.41% - - - - 0.65% ANIMA Credit Opportunities 0.03% 0.40% 0.91% 0.10% 0.06% 0.50% 2.00% ANIMA Tesoreria Imprese ------ANIMA Star High Potential Italy 0.05% 0.72% - - - 0.09% 0.86% ANIMA Star High Potential Global 0.10% 0.01% 0.01% - - 0.17% 0.29% ANIMA Active Selection 0.01% 0.02% 0.01% 0.02% - 0.13% 0.19% ANIMA Smart Dividends Europe 0.07% 0.07% - - - - 0.14% ANIMA Flexible Bond 0.03% 0.36% 0.41% 1.07% 0.03% 1.14% 3.04% ANIMA Flexible Income 0.08% 0.13% 0.62% -0.86% -1.30% 2.58% 1.25% ANIMA Infrastructure 0.10% - - 0.06% - 0.01% 0.17% ANIMA Solution 2022-I 0.05% 0.67% 0.35% - - - 1.07% ANIMA Solution 2022-II 0.07% 0.83% 0.28% - - - 1.18% ANIMA Solution 2022-III - 0.99% 0.20% - - - 1.19% ANIMA Solution 2023 I - 0.05% 0.04% 0.04% - 0.23% 0.36% ANIMA Solution EM - 0.03% 0.03% 0.05% - 0.25% 0.36% ANIMA Italian Bond 0.15% 0.05% 1.15% 0.61% -0.78% 3.29% 4.47% ANIMAItalianEquity ------ANIMA High Yield Bond - 0.08% 0.36% 0.70% 0.61% 1.88% 3.63% ANIMA Bond 2022 Opportunities 0.07% 0.73% 0.61% 0.01% - 0.09% 1.51% ANIMA Global Macro 0.28% 0.01% 0.04% 0.74% 2.60% 0.91% 4.58%

ANIMA Funds Plc 241 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(b) Interest rate risk (continued)

As at 31 December 2019 Sensitivity of 100 Basis Point increase in Interest Rates Less than 1-3 3-5 5-7 7-10 Greather Total 1 Year Years Years Years Years than Exposure Portfolio 10 Years Anima Brightview 2023-I ------Anima Brightview 2023-II - -0.12% 2.40% - - -0.72% 1.56% Anima Brightview 2023-III - 0.02% 2.55% -0.06% -0.42% -0.96% 1.13% Anima Brightview 2023-IV - 0.02% 3.00% -0.05% -0.60% -1.49% 0.88% Anima Brightview 2024-I - 0.02% 3.44% -0.63% -0.59% -1.47% 0.77% Anima Brightview 2024-II - 0.03% 3.65% -0.64% -0.55% -1.50% 0.99% Anima Brightview 2024-III 0.01% 0.03% 3.58% -0.62% -0.42% -1.33% 1.25% Anima Brightview 2024-IV 0.02% 0.03% 3.87% -0.56% -0.49% -1.13% 1.74% Anima Brightview 2024-V 0.01% 0.03% 4.04% -0.51% -0.79% -1.21% 1.57% Anima Brightview 2025-I1 0.05% 0.04% -0.04% 4.48% -0.95% -1.72% 1.86% Anima Brightview 2027-I1 0.01% - 0.02% -0.08% 5.00% -1.56% 3.39% Anima Brightview-II1 0.23% - - 0.01% -0.01% -0.02% 0.21% Anima Brightview-III1 0.23% - - 0.02% - - 0.25% Anima Brightview-IV1 0.09% 0.03% 0.07% 6.02% - - 6.21% Anima Orizzonte Europa 2022 0.01% 2.15% -0.63% - - 0.02% 1.55% Anima Orizzonte Europa 2023 - Rendimento Bilanciato 0.01% -0.36% 2.39% -0.52% - 0.01% 1.53% Anima Orizzonte Sostenibile 2023 - -0.02% 2.23% -0.34% - - 1.87% Anima Orizzonte Benessere 2023 - 0.00% 2.45% -0.65% - - 1.80% Anima Orizzonte Consumi 2023 - 0.06% 2.95% -0.69% - - 2.32% Anima Orizzonte Energia 2023 - 0.08% 2.68% -0.63% - - 2.13% ANIMA Defensive 0.18% 0.19% 0.22% 0.24% 0.20% 1.17% 2.20% ANIMA Zephyr Global 0.13% 0.23% 1.24% 0.53% - - 2.13% ANIMA Zephyr Global Allocation1 0.08% 0.29% 1.17% 0.39% 0.76% - 2.69% ANIMA Zephyr Real Assets 0.06% 0.28% 1.28% 0.47% 0.23% 0.23% 2.55% ANIMA International Bond 0.04% 0.10% 0.60% -0.65% 0.70% 5.41% 6.20%

ANIMA Funds Plc 242 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

The tables below summarise the equity exposure of the Funds, which is calculated with the inclusion of equity FDIs.

As at 31 December 2020 Equity Risk Equity Exposure 10% Decrease Portfolio % of NAV of Equity ANIMA Europe Equity 98.73 % -9.87 % ANIMA U.S. Equity 99.34 % -9.93 % ANIMA Asia/Pacific Equity 97.81 % -9.78 %

ANIMA Global Equity Value1 95.49 % -9.55 % ANIMA Emerging Markets Equity 97.84 % -9.78 %

ANIMA Global Selection 2 97.78 % -9.78 % ANIMA Euro Equity 99.61 % -9.96 % ANIMA Star High Potential Europe 35.11 % -3.51 % ANIMA Smart Volatility Europe 41.63 % -4.16 % ANIMA Smart Volatility Global 42.55 % -4.25 % ANIMA Smart Volatility Italy 36.73 % -3.67 % ANIMA Smart Volatility USA 51.48 % -5.15 % ANIMA Smart Volatility Emerging Markets 62.04 % -6.20 % ANIMA Star High Potential Italy 46.67 % -4.67 %

ANIMA Trading Fund3 58.48 % -5.85 % ANIMA Active Selection 48.43 % -4.84 % ANIMA Smart Dividends Europe 60.32 % -6.03 % ANIMA Solution 2022-I 14.65 % -1.47 % ANIMA Solution 2022-II 15.29 % -1.53 % ANIMA Solution 2022-III 18.12 % -1.81 % ANIMA Solution 2023-I 22.13 % -2.21 % ANIMA Solution EM 26.72 % -2.67 % ANIMA Italian Equity 98.65 % -9.86 % ANIMA High Yield Bond 0.02 % - % ANIMA Global Macro 27.79 % -2.78 % ANIMA Brightview 2023-I 34.98 % -3.50 % ANIMA Brightview 2023-II 11.73 % -1.17 % ANIMA Brightview 2023-IV 7.52 % -0.75 % ANIMA Brightview 2024-I 16.41 % -1.64 % ANIMA Brightview 2024-II 3.41 % -0.34 % ANIMA Brightview 2024-III 20.43 % -2.04 % ANIMA Brightview 2024-IV 23.53 % -2.35 % ANIMA Brightview 2024-V 0.41 % -0.04 % ANIMA Brightview 2025-I 13.93 % -1.39 % ANIMA Brightview 2027-I 3.28 % -0.33 % ANIMA Brightview-II 10.07 % -1.01 % ANIMA Brightview-III 11.46 % -1.15 % ANIMA Brightview-IV 15.22 % -1.52 %

ANIMA Brightview-V2 18.45 % -1.84 %

ANIMA Brightview-VI2 8.74 % -0.87 % ANIMA Orizzonte Europa 2022 5.32 % -0.53 % ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato 5.43 % -0.54 %

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

3 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Funds Plc 243 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

The tables below summarise the equity exposure of the Funds, which is calculated with the inclusion of equity FDIs.

As at 31 December 2020 Equity Risk Equity Exposure 10% Decrease Portfolio % of NAV of Equity ANIMA Orizzonte Sostenibile 2023 23.98 % -2.40 % ANIMA Orizzonte Benessere 2023 27.18 % -2.72 % ANIMA Orizzonte Consumi 2023 22.95 % -2.30 % ANIMA Orizzonte Energia 2023 16.04 % -1.60 % ANIMA Defensive 6.89 % -0.69 % ANIMA Zephyr Global 34.96 % -3.50 % ANIMA Zephyr Global Allocation 28.66 % -2.87 %

ANIMA Zephyr New2 42.68 % -4.27 % ANIMA Zephyr Real Assets 19.16 % -1.92 %

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

A 10% increase would have resulted in an equal but opposite effect on the amounts shown above, on the basis that all other variables remain constant.

The tables below summarise the equity exposure of the Funds, which is calculated with the inclusion of equity FDIs.

As at 31 December 2019 Equity Risk Equity Exposure 10% Decrease Portfolio % of NAV of Equity Anima Europe Equity 100.84% -10.08% Anima U.S. Equity 100.24% -10.02% Anima Asia/Pacific Equity 101.14% -10.11% Anima Global Equity 97.39% -9.74% Anima Emerging Markets Equity 103.66% -10.37% Anima Euro Equity 98.83% -9.88% Anima Star High Potential Europe 43.22% -4.32% Anima Smart Volatility Europe 75.30% -7.53% Anima Smart Volatility Global 70.70% -7.07% Anima Smart Volatility Italy 47.66% -4.77% Anima Smart Volatility USA 86.90% -8.69% Anima Smart Volatility Emerging Markets 70.40% -7.04% Anima Star High Potential Italy 44.19% -4.42% Anima Star High Potential Global 46.84% -4.68% Anima Active Selection 84.35% -8.44% Anima Smart Dividends Europe 64.16% -6.42% Anima Infrastructure 28.38% -2.84% ANIMA Solution 2022-I 36.91% -3.69% Anima Solution 2022-II 36.65% -3.66% Anima Solution 2022-III 45.61% -4.56% Anima Solution 2023 I 70.64% -7.06% Anima Solution EM 76.13% -7.61% Anima Italian Equity 99.70% -9.97%

ANIMA Funds Plc 244 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

The tables below summarise the equity exposure of the Funds, which is calculated with the inclusion of equity FDIs.

As at 31 December 2019 Equity Risk Equity Exposure 10% Decrease Portfolio % of NAV of Equity Anima Global Macro 17.53% -1.75% Anima Brightview 2023 I 68.00% -6.80% ANIMA Brightview 2023-I 114.69% -11.47% Anima Brightview 2023-II 29.55% -2.96% Anima Brightview 2023-III 45.61% -4.56% Anima Brightview 2023-IV 14.09% -1.41% Anima Brightview 2024-I 44.48% -4.45% Anima Brightview 2024-II 22.09% -2.21% Anima Brightview 2024-III 36.39% -3.64% Anima Brightview 2024-IV 60.59% -6.06% Anima Brightview 2024-V 2.26% -0.23% Anima Brightview 2025-I1 35.62% -3.56% Anima Brightview 2027-I1 16.55% -1.65% Anima Orizzonte Europa 2022 18.87% -1.89% Anima Orizzonte Europa 2023 - Rendimento Bilanciato 20.40% -2.04% Anima Orizzonte Sostenibile 2023 65.73% -6.57% Anima Orizzonte Benessere 2023 53.02% -5.30% Anima Orizzonte Consumi 2023 78.88% -7.89% Anima Orizzonte Energia 2023 69.19% -6.92% Anima Zephyr Global 37.64% -3.76% Anima Zephyr Global Allocation 27.64% -2.76% Anima Zephyr Real Assets 18.11% -1.81%

A 10% increase would have resulted in an equal but opposite effect on the amounts shown above, on the basis that all other variables remain constant.

ANIMA Funds Plc 245 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2020 Credit Risk Rating in ANIMA ANIMA ANIMA Global

Portfolio ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar Bond ANIMA Life Bond1 AAA 8.45% 29.35% 26.24% 4.51% 14.79% - AA+ - 5.41% 4.86% 95.49% 36.85% - AA 5.09% 22.08% 23.60% - 12.96% - AA- 3.00% 4.10% 5.67% - 1.50% - A+ - 1.34% 1.86% - 24.35% - A - 0.36% 0.63% - 0.06% - A------BBB+ 27.08% 11.01% 13.53% - 3.49% - BBB 56.38% 26.35% 23.61% - 6.00% - BBB------BB+ ------BB ------BB------B+ ------B ------B------CCC+ ------CC ------N/R ------N/A ------Total 100.00 100.00 100.00 100.00 100.00 -

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA Funds Plc 246 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2020 Credit Risk ANIMA Rating in ANIMA Short Term ANIMA ANIMA Global Equity ANIMA Emerging

Portfolio Corporate Bond Europe Equity ANIMA U.S. Equity Asia/Pacific Equity Value2 Markets Equity AAA 7.90% 1.27% 0.66% 7.55% 4.51% 14.70% AA+ -----2.36% AA ------AA------A+1.53%----- A 1.62%----- A- 4.57%----- BBB+ 9.65% ----- BBB20.31%----- BBB- 23.41% ----- BB+14.38%----- BB7.13%----- BB-7.13%----- B+ ------B ------B- 0.39%----- CCC+ ------CC ------N/R4.56%----- N/A ------Total 102.58 1.27 0.66 7.55 4.51 17.06

2 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

ANIMA Funds Plc 247 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2020 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA Euro

Portfolio Global Selection1 ANIMA Euro Equity Global Currencies Variable Rate Bond Hybrid Bond Government Bond AAA -1.27% 0.39% 36.13% 1.37% 11.64% 17.06% AA+ 9.53% - 16.44% - - 1.85% AA - - 25.69% - - 17.42% AA------4.19% A+ 1.35% - 14.53% - - 1.00% A -----0.46% A- ----1.61%1.08% BBB+ 2.72% - - 2.12% 6.81% 11.81% BBB 74.20% - 7.21% 96.51% 2.15% 23.32% BBB- ----28.77%7.82% BB+ ----30.54%3.84% BB ----15.34%2.05% BB- ----15.34%2.05% B+ ------B ------B------0.31% CCC+ ----0.96%- CC ------N/R ----2.18%0.79% N/A ------Total 86.53 0.39 100.00 100.00 115.34 95.05

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 248 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2020 Credit Risk Rating in ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Portfolio Potential Europe ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA AAA 17.67% 18.87% 10.64% 10.74% 11.13% 11.40% AA+ - 32.84% - - - - AA - - 8.87% 3.92% 2.89% 9.67% AA-11.11%----- A+ -0.58%---- A ------A------BBB+ - - 12.13% 9.66% 10.15% 11.60% BBB 15.09% 46.90% 68.36% 75.68% 75.83% 67.33% BBB- - 0.46% - - - - BB+ ------BB -0.21%---- BB- - 0.21% - - - - B+ ------B ------B------CCC+ ------CC ------N/R ------N/A ------Total 43.87 100.21 100.00 100.00 100.00 100.00

ANIMA Funds Plc 249 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2020 Credit Risk ANIMA Rating in Smart Volatility ANIMA Credit ANIMA Star High ANIMA Trading ANIMA ANIMA Smart

Portfolio Emerging Markets Opportunities Potential Italy Fund1 Active Selection Dividends Europe AAA 11.43% 17.76% 10.31% 23.56% 7.30% 6.59% AA+ - - - 1.46% 6.44% - AA ----1.73%- AA- - - - 1.23% 0.89% - A+ - 0.55% - - 2.20% - A - 0.56% - - 0.26% - A- - 3.70% - - 0.42% - BBB+ 10.24% 3.78% - - 1.70% - BBB 78.33% 12.15% 35.64% 14.91% 6.87% 33.09% BBB- - 15.05% 2.27% 0.36% 2.19% - BB+ - 19.23% 4.83% - 1.41% - BB - 13.82% - - 0.82% - BB- - 13.82% - - 0.82% - B+ - 0.40% - - 0.36% - B - 0.29% - - 0.25% - B- - - 1.12% - 0.29% - CCC+ ----0.11%- CC ------N/R - 5.39% - - 0.45% - N/A ------Total 100.00 106.50 54.17 41.52 34.58 39.68

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Funds Plc 250 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2020 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA

Portfolio Flexible Bond Flexible Income2 Infrastructure2 Solution 2022-I Solution 2022-II Solution 2022-III AAA 27.73% - - 1.37% 7.43% 5.19% AA+ ------AA ------AA------A+ ------A ------A- 1.24% - - 1.63% - 1.14% BBB+ 8.43% - - 2.60% 2.68% 4.17% BBB 26.33% - - 70.58% 56.75% 59.41% BBB- 6.96% - - 1.96% 6.95% 2.63% BB+ 8.95% - - 4.00% 9.73% 8.18% BB 4.23% - - 3.22% - 0.49% BB- 4.23% - - 3.22% - 0.49% B+3.86%----- B 0.56%----- B- 3.14%----- CCC+ ------CC ------N/R1.53%----- N/A ------Total 97.19 - - 88.58 83.54 81.70

2 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA Funds Plc 251 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2020 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA High ANIMA Bond 2022 Portfolio Solution 2023-I Solution EM Italian Bond Italian Equity Yield Bond Opportunities AAA 9.89% 10.71% 11.66% 1.35% 12.66% 4.47% AA+ 4.85% 4.96% - - - - AA 0.92% 0.86% - - - - AA- 0.23% 0.22% - - - - A+ 1.74% 1.67% - - - - A 0.55% 0.56% - - - - A- 1.53% 1.55% - - 1.86% - BBB+ 3.38% 3.43% 5.23% - 0.94% 0.86% BBB 7.84% 8.53% 83.11% - 0.39% 7.34% BBB- 6.28% 6.54% - - 3.12% 5.15% BB+ 4.00% 4.23% - - 12.60% 20.75% BB 2.27% 2.45% - - 16.27% 14.96% BB- 2.27% 2.45% - - 16.27% 14.96% B+ 0.67% 0.69% - - 6.43% 5.68% B 0.44% 0.48% - - 7.17% 6.47% B- 0.67% 0.68% - - 10.28% 6.87% CCC+ 0.31% 0.32% - - 5.04% 1.70% CC - 0.01% - - - 0.43% N/R 1.51% 1.55% - - 6.89% 6.02% N/A ------Total 49.47 52.03 100.00 1.35 100.39 96.93

ANIMA Funds Plc 252 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2020 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Portfolio Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV Brightview 2024-I AAA -23.23% - -12.60% -15.35% -19.65% -22.31% AA+55.37%----- AA20.87%----- AA------A+11.74%----- A 1.19%----- A- 0.01%----- BBB+ 12.74% - 3.60% 10.95% 11.18% 10.26% BBB 11.80% - 105.21% 99.78% 105.85% 108.08% BBB------BB+ ------BB ------BB------B+ ------B ------B------CCC+ ------CC ------N/R6.68%----- N/A ------Total 97.17 - 96.21 95.38 97.38 96.03

ANIMA Funds Plc 253 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2020 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Portfolio Brightview 2024-II Brightview 2024-III Brightview 2024-IV Brightview 2024-V Brightview 2025-I Brightview 2027-I AAA -23.25% -19.64% -17.93% -19.71% -24.75% -22.49% AA+ ------AA ------AA------A+ ------A ------A------BBB+ 10.45% 6.75% 4.61% 8.77% 11.32% 8.31% BBB 110.60% 105.85% 106.12% 99.85% 109.79% 99.90% BBB------BB+ ------BB ------BB------B+ ------B ------B------CCC+ ------CC ------N/R ------N/A ------Total 97.80 92.96 92.80 88.91 96.36 85.72

ANIMA Funds Plc 254 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2020 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA Brightview ANIMA ANIMA

Portfolio Brightview-II Brightview-III Brightview IV V1 Brightview-VI1 Brightview VII1 AAA -25.99% -25.73% -25.52% -23.61% -24.06% -3.95% AA+ ------AA -----20.04% AA------A+ ------A ------A------BBB+ 17.01% 16.97% 12.40% 9.92% 8.33% 25.69% BBB 106.85% 106.13% 109.52% 109.02% 112.89% 58.22% BBB------BB+ ------BB ------BB------B+ ------B ------B------CCC+ ------CC ------N/R ------N/A ------Total 97.87 97.37 96.40 95.33 97.16 100.00

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 255 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2020 Credit Risk ANIMA Orizzonte Europa 2023 Rating in ANIMA ANIMA Orizzonte - Rendimento ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte

Portfolio Brightview VIII1 Europa 2022 Bilanciato Sostenibile 2023 Benessere 2023 Consumi 2023 AAA 7.60% -10.47% -15.15% -13.54% 0.36% -17.89% AA+ ------AA - - - 9.79% - 24.49% AA------A+ - 0.14% 0.14% - - - A - 0.15% 0.15% - - - A- - 0.41% 0.42% - - - BBB+ - 0.87% 0.88% 8.68% - 14.33% BBB 92.37% 101.30% 106.14% 94.05% 97.33% 72.91% BBB- - 2.12% 2.13% - - - BB+ - 1.80% 1.31% - - - BB - 0.65% 0.65% - - - BB- - 0.65% 0.65% - - - B+ ------B ------B- - 0.04% 0.04% - - - CCC+ ------CC ------N/R - 1.41% 1.50% - - - N/A ------Total 99.97 99.07 98.86 98.98 97.69 93.84

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 256 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2020 Credit Risk Rating in ANIMA Orizzonte ANIMA ANIMA Zephyr ANIMA Zephyr ANIMA Zephyr

Portfolio Energia 2023 ANIMA Defensive Zephyr Global Global Allocation New1 Real Assets AAA -7.69% 15.83% 11.29% 3.45% - 3.56% AA+ - 4.39% - 0.89% - 2.72% AA 23.01% 4.68% - 0.58% - 0.81% AA- -1.40%---- A+ - 2.61% - 1.41% - 0.39% A - 0.99% - - - - A- -2.34%---- BBB+ - 9.41% 5.44% 3.13% - 4.93% BBB 73.45% 17.00% 82.13% 82.94% - 80.36% BBB- - 11.41% - - - - BB+ - 7.74% - - - - BB -4.68%---- BB- - 4.68% - - - - B+ -1.12%---- B -0.97%---- B- -1.09%---- CCC+ - 0.59% - - - - CC -0.02%---- N/R -2.32%---- N/A ------Total 88.77 93.55 98.86 92.40 - 92.77

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 257 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2020 Credit Risk Rating in ANIMA Portfolio International Bond AAA 2.67% AA+ 44.31% AA 14.44% AA- 1.48% A+ 18.13% A - A- - BBB+ 4.42% BBB 14.55% BBB- - BB+ - BB - BB- - B+ - B - B- - CCC+ - CC - N/R - N/A - Total 100.00

As at 31 December 2019 Credit Risk Rating in ANIMA ANIMA ANIMA Global Portfolio ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar Bond ANIMA Life Bond AAA 8.47% 25.54% 21.95% 5.28% 11.15% 4.47% AA+ - 4.80% 4.92% 94.72% 36.12% - AA 6.14% 21.67% 23.72% - 11.80% - AA- - 4.11% 5.84% - 1.57% 0.90% A+ 5.71% 0.94% 1.72% - 26.70% 1.11% A - - 1.05% - - 6.28% A- 28.35% 11.58% 13.64% - 3.61% 2.24% BBB+ -----5.79% BBB 37.07% 29.50% 24.89% - 8.49% 76.21% BBB- 14.26% 1.86% 2.27% - 0.56% 2.57% NR -----0.43% Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 258 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2019 Credit Risk Rating in ANIMA Short Term ANIMA ANIMA ANIMA ANIMA Emerging Portfolio Corporate Bond Europe Equity ANIMA U.S. Equity Asia/Pacific Equity Global Equity Markets Equity AAA 17.07% 3.12% 5.28% 13.82% 2.61% 10.85% A+2.29%----- A 1.61%----- A- 1.31%----- BBB+ 9.46% ----- BBB28.99%----4.26% BBB- 19.76% ----- BB+11.57%----- BB1.78%----- BB-2.82%----- B- 0.26%----- NR3.08%----- Total 100.00% 3.12% 5.28% 13.82% 2.61% 15.11%

As at 31 December 2019 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA Euro ANIMA Star High Portfolio ANIMA Euro Equity Global Currencies Variable Rate Bond Hybrid Bond Government Bond Potential Europe AAA 1.17% 59.16% 5.53% 3.16% 1.14% 18.48% AA+ - 3.17% - - 7.92% - AA - 20.62% - - 15.58% - AA- ----1.78%8.63% A+ - 10.63% - - 3.86% - A- - - - 4.52% 14.15% 4.35% BBB+ - - - 6.62% 1.92% - BBB - - - 4.51% 33.66% 13.69% BBB- - 6.42% 94.47% 24.10% 5.65% - BB+ - - - 29.93% 2.88% - BB - - - 21.26% 2.50% - BB- ----7.47%1.97% B - - - 1.92% - - B- - - - 1.40% - - NR - - - 2.58% 1.16% - Total 1.17% 100.00% 100.00% 100.00% 99.67% 47.12%

ANIMA Funds Plc 259 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2019 Credit Risk ANIMA Rating in ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Smart Volatility Portfolio ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA Emerging Markets AAA 8.37% 10.85% 12.03% 6.50% 9.21% 6.39% AA+30.60%----- A+3.64%----- A 0.25%----- A- 3.14%----- BBB+ 1.75% ----- BBB 25.49% 89.15% 87.97% 93.23% 90.79% 93.61% BBB- 7.04% ----- BB+3.28%----- BB3.41%----- BB-4.59%----- B+1.26%----- B- 0.73%----- CCC+ 0.70% ----- NR2.01%----- Total 96.26% 100.00% 100.00% 99.73% 100.00% 100.00%

As at 31 December 2019 Credit Risk Rating in ANIMA Credit ANIMA ANIMA Star High ANIMA Star High ANIMA ANIMA Smart Portfolio Opportunities Tesoreria Imprese Potential Italy Potential Global Active Selection Dividends Europe AAA 18.16% - 8.59% 18.91% 13.10% 4.91% AA+ ----0.93%- AA ----0.27%- AA- ----0.12%- A+ ----0.51%- A ----0.03%- A- 0.33% - - 17.86% 0.34% - BBB+ 4.14% - - - 0.18% - BBB 18.33% - 45.68% 13.42% 1.19% 30.93% BBB- 14.21% - 1.88% 2.04% 0.51% - BB+ 19.33% - 2.39% - 0.29% - BB 14.35% - - 0.41% 0.15% - BB- 8.43% - - 1.08% 0.17% - B+ - - - 0.45% 0.03% - B- - - 0.61% - 0.03% - CCC+ ----0.01%- NR 2.72% - 0.61% - 0.14% - Total 100.00% - 59.76% 54.17% 18.00% 35.84%

ANIMA Funds Plc 260 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

As at 31 December 2019 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Portfolio Flexible Bond Flexible Income Infrastructure Solution 2022-I Solution 2022-II Solution 2022-III AAA -7.48% 45.38% 16.38% 2.16% 4.05% 5.55% AA+ 25.82% -1.92% - - - - AA 0.62% 4.17% - - - - A+ - 12.57% - - - - A 0.30%----- A- 5.26% 11.20% - 1.34% - 0.90% BBB+ 0.89% 2.95% - 3.96% - 3.32% BBB 40.18% 5.66% 19.80% 45.78% 44.07% 30.42% BBB- 8.19% 7.93% 1.09% 6.37% 10.85% 7.94% BB+ 4.97% 6.98% - 4.07% 4.93% 6.26% BB3.81%----- BB- 7.00% 2.48% - - - - B+1.63%----- B 0.35% 0.56% - - - - B- 1.41%----- CCC+ ------NR1.51%----- Total 94.46% 97.96% 37.27% 63.68% 63.90% 54.39%

As at 31 December 2019 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA High ANIMA Bond 2022 Portfolio Solution 2023-I Solution EM Italian Bond Italian Equity Yield Bond Opportunities AAA 12.04% 14.63% 16.43% 0.30% 4.67% 13.37% AA+ 1.47% 1.68% - - - - AA 0.30% 0.34% -7.13% - - - AA- 0.04% 0.05% - - - - A+ 0.66% 0.72% - - - - A 0.06% 0.03% - - 0.02% - A- 0.28% 0.27% - - 0.03% - BBB+ 0.51% 0.28% - - 0.05% 2.34% BBB 1.82% 1.39% 90.70% - 0.71% 17.17% BBB- 1.26% 0.81% - - 4.58% 9.40% BB+ 0.92% 0.68% - - 14.66% 18.26% BB 0.65% 0.60% - - 21.07% 8.25% BB- 0.54% 0.50% - - 14.90% 16.62% B+ 0.13% 0.13% - - 4.70% - B 0.11% 0.13% - - 14.23% 6.03% B- 0.17% 0.19% - - 8.92% 4.96% CCC+ 0.09% 0.10% - - 6.16% 1.21% NR 0.48% 0.39% - - 5.13% 2.39% Total 21.53% 22.92% 100.00% 0.30% 99.83% 100.00%

ANIMA Funds Plc 261 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2019 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Portfolio Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV Brightview 2024-I AAA -7.73% 0.13% 0.20% 0.29% 0.49% 1.70% AA+26.56%----- AA7.35%----- AA------A+5.93%----- A 2.07%----- A- 25.16% - 6.50% 8.68% 9.96% 8.62% BBB+ 0.53% ----- BBB 36.29% - 88.86% 84.03% 86.08% 84.61% BBB- 0.20% ----- BB+0.36%----- BB ------BB-0.38%----- B+ ------B ------B------NR N/A 1.02% 99.87% 4.44% 7.00% 3.47% 5.07% Total 98.12% 100.00% 100.00% 100.00% 100.00% 100.00% As at 31 December 2019 Credit Risk Rating in ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Portfolio Brightview 2024-II Brightview 2024-III Brightview 2024-IV Brightview 2024-V Brightview 2025-I Brightview 2027-I AAA 0.13% 0.31% 0.51% 0.14% - 0.37% A- 8.31% 6.01% 3.84% 5.74% 9.87% 5.85% BBB 86.17% 84.06% 83.46% 79.33% 79.57% 75.88% N/A 5.39% 9.62% 12.19% 14.79% 10.56% 17.90% Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 262 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2019 Credit Risk ANIMA Orizzonte Europa 2023 Rating in ANIMA ANIMA ANIMA ANIMA Orizzonte - Rendimento ANIMA Orizzonte Portfolio Brightview-II Brightview-III Brightview IV Europa 2022 Bilanciato Sostenibile 2023 AAA 2.91% 2.92% 98.15% 98.15% 5.53% 3.34% AA+ ------AA -----9.60% AA------A+ ----0.20%- A ----0.14%- A- - - -0.04% -0.04% 0.11% 9.09% BBB+ ----0.81%- BBB 97.08% 97.07% -0.14% -0.14% 81.92% 75.93% BBB- ----3.45%- BB+ ----1.98%- BB ----0.15%- BB- ----0.24%- B+ ------B ------B- ----0.02%- NR ----0.27%- N/A 0.01% 0.01% 2.03% 2.03% 5.18% 2.04% Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ANIMA Funds Plc 263 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Exposure Analysis / Sensitivity Analysis (continued)

(d) Credit risk (continued)

The tables below summarise the issuer risk exposure of the Funds by the S&P long term rating.

In relation to Brightview and Orizzonte funds, the market value of asset swaps has been attributed to the rating of the underlying asset.

As at 31 December 2019 Credit Risk Rating in ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA ANIMA Zephyr Portfolio Benessere 2023 Consumi 2023 Energia 2023 ANIMA Defensive Zephyr Global Global Allocation AAA 22.74% 4.72% 18.94% 22.47% 12.44% 6.09% AA+ - - - 3.66% - 3.76% AA - 18.65% 17.63% 5.60% - 1.63% AA- - - - 0.62% - - A+ - - - 4.48% 2.59% 1.38% A - - - 0.34% - - A- - 15.57% - 12.33% 5.18% 2.98% BBB+ - - - 1.99% - - BBB 70.65% 51.25% 52.60% 31.44% 77.45% 76.17% BBB- - - - 9.06% 2.29% 1.46% BB+ - - - 2.75% - - BB - - - 1.07% - - BB- - - - 2.31% - - B+ - - - 0.14% - - B - - - 0.10% - - B- - - - 0.17% - - CCC- - - - 0.05% NR - - - 1.00% - - N/A 6.61% 9.81% 10.83% - - - Total 100.00% 100.00% 100.00% 99.58% 99.95% 93.47%

As at 31 December 2019 Credit Risk Rating in ANIMA Zephyr ANIMA Portfolio Real Assets International Bond AAA 11.26% 31.35% AA+ 2.93% 27.18% AA 1.05% 13.28% AA- - 1.61% A+ 3.12% 13.18% A- 4.68% 2.89% BBB 69.26% 10.51% BBB- 1.94% - Total 94.24% 100.00%

Liquidity risk

The tables below summarise the liquidity risk exposure of the Funds in terms of assets and liabilities by maturity bucket. Balances due within six months equal their carrying amounts, as the impact of discounting is insignificant. The maturity groupings are based on the remaining period from the end of the reporting period to the contractual maturity date. Where the counterparty has a choice of when the payment required, the liability is allocated to the earliest timeframe in which the Fund could be required to pay.

ANIMA Funds Plc 264 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Liquidity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 8.75 - - - 8.75 Debtors - 4.28 - - 4.28 Financial assets at fair value through 14.96 76.32 - - 91.28 profit and loss

Liabilities Creditors (4.31) - - - (4.31) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (80.60) 80.60 - - -

ANIMA Short Term Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 5.37 - - - 5.37 Debtors - 5.02 - - 5.02 Financial assets at fair value through - - 93.26 - 93.26 profit and loss

Liabilities Creditors (3.65) - - - (3.65) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (98.28) 5.02 93.26 - -

The tables above analyses the Funds’ financial assets into relevant maturity groupings based on the remaining period at the Statement of Financial Position date to the bond maturity date. The percentages in the tables above are as a percentage of the NAV of the Funds.

ANIMA Funds Plc 265 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Medium Term Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 4.73 - - - 4.73 Debtors -2.55- -2.55 Financial assets at fair value through - 0.48 32.17 61.89 94.54 profit and loss

Liabilities Creditors (1.82) - - - (1.82) Financial liabilities at fair value through profit or loss ----- Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (97.09) 3.03 32.17 61.89 -

ANIMA Bond Dollar Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 5.60 - - - 5.60 Debtors -2.49- -2.49 Financial assets at fair value through 0.01 1.08 48.78 45.14 95.01 profit and loss

Liabilities Creditors (3.10) - - - (3.10) Financial liabilities at fair value through profit or loss ----- Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (97.49) 3.57 48.78 45.14 -

ANIMA Funds Plc 266 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Global Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 4.49 - - - 4.49 Debtors -6.18- -6.18 Financial assets at fair value through - 0.44 38.02 55.85 94.31 profit and loss

Liabilities Creditors (4.98) - - - (4.98) Financial liabilities at fair value through profit or loss ----- Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (100.49) 6.62 38.02 55.85 -

ANIMA Short Term Corporate Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 7.97 - - - 7.97 Debtors -1.64- -1.64 Financial assets at fair value through 4.86 28.47 35.63 21.60 90.56 profit and loss

Liabilities Creditors (0.15) - - - (0.15) Financial liabilities at fair value through profit or loss (0.02) - - - (0.02) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (87.34) 30.11 35.63 21.60 -

ANIMA Funds Plc 267 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Europe Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.11 - - - 1.11 Debtors - 0.78 - - 0.78 Financial assets at fair value through 99.09 - - - 99.09 profit and loss

Liabilities Creditors (0.84) - - - (0.84) Financial liabilities at fair value through profit or loss (0.14) - - - (0.14) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (0.78) 0.78 - - -

ANIMA U.S. Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.16 - - - 1.16 Debtors - 0.19 - - 0.19 Financial assets at fair value through 99.89 - - - 99.89 profit and loss

Liabilities Creditors (0.73) - - - (0.73) Financial liabilities at fair value through profit or loss (0.51) - - - (0.51) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (0.19) 0.19 - - -

ANIMA Funds Plc 268 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Asia/Pacific Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 8.29 - - - 8.29 Debtors - 0.09 - - 0.09 Financial assets at fair value through 92.58 - - - 92.58 profit and loss

Liabilities Creditors (0.95) - - - (0.95) Financial liabilities at fair value through profit or loss - (0.01) - - (0.01) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (0.08) 0.08 - - -

ANIMA Global Equity Value1 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 3.90 - - - 3.90 Debtors - 1.70 - - 1.70 Financial assets at fair value through 96.98 - - - 96.98 profit and loss

Liabilities Creditors (0.73) - - - (0.73) Financial liabilities at fair value through profit or loss (1.85) - - - (1.85) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (1.70) 1.70 - - -

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020. The tables above analyses the Funds’ financial assets into relevant maturity groupings based on the remaining period at the Statement of Financial Position date to the bond maturity date. The percentages in the tables above are as a percentage of the NAV of the Funds.

ANIMA Funds Plc 269 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Emerging Markets Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 14.12 - - - 14.12 Debtors - 0.37 - - 0.37 Financial assets at fair value through 82.91 3.08 - - 85.99 profit and loss

Liabilities Creditors (0.46) - - - (0.46) Financial liabilities at fair value through profit or loss (0.02) - - - (0.02) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (3.45) 3.45 - - -

ANIMA Global Selection 1 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 10.95 - - - 10.95 Debtors - 0.01 - - 0.01 Financial assets at fair value through 98.79 - - - 98.79 profit and loss

Liabilities Creditors (9.75) - - - (9.75) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (0.01) 0.01 - - -

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. The tables above analyses the Funds’ financial assets into relevant maturity groupings based on the remaining period at the Statement of Financial Position date to the bond maturity date. The percentages in the tables above are as a percentage of the NAV of the Funds.

ANIMA Funds Plc 270 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Euro Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.31 - - - 0.31 Debtors - 0.50 - - 0.50 Financial assets at fair value through 99.65 - - - 99.65 profit and loss

Liabilities Creditors (0.41) - - - (0.41) Financial liabilities at fair value through profit or loss (0.05) - - - (0.05) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (0.50) 0.50 - - -

ANIMA Global Currencies Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 7.12 - - - 7.12 Debtors - 0.81 - - 0.81 Financial assets at fair value through 25.58 41.90 25.31 - 92.79 profit and loss

Liabilities Creditors (0.48) - - - (0.48) Financial liabilities at fair value through profit or loss (0.24) - - - (0.24) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (68.02) 42.71 25.31 - -

ANIMA Funds Plc 271 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Variable Rate Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.25 - - - 1.25 Debtors -0.44- -0.44 Financial assets at fair value through - 14.84 79.42 4.23 98.49 profit and loss

Liabilities Creditors (0.18) - - - (0.18) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (98.93) 15.28 79.42 4.23 -

ANIMA Hybrid Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 11.68 - - - 11.68 Debtors -1.56- -1.56 Financial assets at fair value through 0.21 - - 86.94 87.15 profit and loss

Liabilities Creditors (0.37) - - - (0.37) Financial liabilities at fair value through profit or loss (0.02) - - - (0.02) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (88.50) 1.56 - 86.94 -

ANIMA Funds Plc 272 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Euro Government Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 2.54 - - - 2.54 Debtors -0.64- -0.64 Financial assets at fair value through - 9.60 24.05 65.02 98.67 profit and loss

Liabilities Creditors (1.79) - - - (1.79) Financial liabilities at fair value through profit or loss - (0.06) - - (0.06) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.25) 10.18 24.05 65.02 -

ANIMA Star High Potential Europe Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 17.99 - - - 17.99 Debtors - 0.92 - - 0.92 Financial assets at fair value through 56.87 26.07 - - 82.94 profit and loss

Liabilities Creditors (1.10) - - - (1.10) Financial liabilities at fair value through profit or loss (0.44) (0.15) - - (0.59) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (26.68) 26.84 - - 0.16

ANIMA Funds Plc 273 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Star Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 16.03 - - - 16.03 Debtors -0.22- -0.22 Financial assets at fair value through 0.29 11.99 28.55 43.08 83.91 profit and loss

Liabilities Creditors (0.12) - - - (0.12) Financial liabilities at fair value through profit or loss - (0.04) - - (0.04) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (83.80) 12.17 28.55 43.08 -

ANIMA Smart Volatility Europe Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 10.30 - - - 10.30 Debtors - 0.45 - - 0.45 Financial assets at fair value through - 89.55 - - 89.55 profit and loss

Liabilities Creditors (0.18) - - - (0.18) Financial liabilities at fair value through profit or loss - (0.12) - - (0.12) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (89.88) 89.88 - - -

ANIMA Funds Plc 274 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Smart Volatility Global Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 9.89 - - - 9.89 Debtors - 0.16 - - 0.16 Financial assets at fair value through 3.25 86.91 - - 90.16 profit and loss

Liabilities Creditors (0.20) - - - (0.20) Financial liabilities at fair value through profit or loss - (0.01) - - (0.01) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (87.06) 87.06 - - -

ANIMA Smart Volatility Italy Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 10.61 - - - 10.61 Debtors - 0.37 - - 0.37 Financial assets at fair value through 3.97 85.19 - - 89.16 profit and loss

Liabilities Creditors (0.14) - - - (0.14) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (85.56) 85.56 - - -

ANIMA Funds Plc 275 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Smart Volatility USA Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 7.45 - - - 7.45 Debtors - 3.15 - - 3.15 Financial assets at fair value through 3.98 85.67 - - 89.65 profit and loss

Liabilities Creditors (0.25) - - - (0.25) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (88.82) 88.82 - - -

ANIMA Smart Volatility Emerging Markets Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 12.57 - - - 12.57 Debtors - 0.30 - - 0.30 Financial assets at fair value through - 89.51 - - 89.51 profit and loss

Liabilities Creditors (2.38) - - - (2.38) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (89.81) 89.81 - - -

ANIMA Funds Plc 276 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Credit Opportunities Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 13.06 - - - 13.06 Debtors -0.90- -0.90 Financial assets at fair value through 0.12 7.64 34.79 43.55 86.10 profit and loss

Liabilities Creditors (0.05) - - - (0.05) Financial liabilities at fair value through profit or loss (0.01) - - - (0.01) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (86.88) 8.54 34.79 43.55 -

ANIMA Star High Potential Italy Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 10.22 - - - 10.22 Debtors -0.29- -0.29 Financial assets at fair value through 45.89 30.15 11.57 2.22 89.83 profit and loss

Liabilities Creditors (0.34) - - - (0.34) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (44.23) 30.44 11.57 2.22 -

ANIMA Funds Plc 277 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Trading Fund1 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 18.16 - - - 18.16 Debtors - 4.91 - - 4.91 Financial assets at fair value through 63.05 14.36 0.36 - 77.77 profit and loss

Liabilities Creditors (0.53) - - - (0.53) Financial liabilities at fair value through profit or loss (0.31) - - - (0.31) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (19.63) 19.27 0.36 - -

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Active Selection Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 2.08 - - - 2.08 Debtors ----- Financial assets at fair value through 98.52 - - - 98.52 profit and loss

Liabilities Creditors (0.60) - - - (0.60) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares -----

ANIMA Funds Plc 278 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Smart Dividends Europe Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 6.55 - - - 6.55 Debtors - 0.17 - - 0.17 Financial assets at fair value through 61.52 31.89 - - 93.41 profit and loss

Liabilities Creditors (0.13) - - - (0.13) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (32.06) 32.06 - - -

ANIMA Flexible Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 16.02 - - - 16.02 Debtors -0.81- -0.81 Financial assets at fair value through 2.51 15.42 28.54 37.27 83.74 profit and loss

Liabilities Creditors (0.08) - - - (0.08) Financial liabilities at fair value through profit or loss (0.44) (0.05) - - (0.49) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (81.99) 16.18 28.54 37.27 -

ANIMA Funds Plc 279 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Solution 2022-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.57 - - - 1.57 Debtors - 0.78 - - 0.78 Financial assets at fair value through 16.86 45.42 35.63 - 97.91 profit and loss

Liabilities Creditors (0.26) - - - (0.26) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (81.83) 46.20 35.63 - -

ANIMA Solution 2022-II Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 7.47 - - - 7.47 Debtors - 0.69 - - 0.69 Financial assets at fair value through 26.47 20.61 44.86 - 91.94 profit and loss

Liabilities Creditors (0.10) - - - (0.10) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (66.16) 21.30 44.86 - -

ANIMA Funds Plc 280 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Solution 2022-III Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 5.91 - - - 5.91 Debtors - 0.59 - - 0.59 Financial assets at fair value through 28.43 18.79 47.31 - 94.53 profit and loss

Liabilities Creditors (1.03) - - - (1.03) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (66.69) 19.38 47.31 - -

ANIMA Solution 2023-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 4.54 - - - 4.54 Debtors ----- Financial assets at fair value through 95.49 - - - 95.49 profit and loss

Liabilities Creditors (0.03) - - - (0.03) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares -----

ANIMA Funds Plc 281 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Solution EM Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 3.20 - - - 3.20 Debtors ----- Financial assets at fair value through 96.83 - - - 96.83 profit and loss

ANIMA Italian Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 2.21 - - - 2.21 Debtors -0.44- -0.44 Financial assets at fair value through 5.23 11.10 38.08 43.09 97.50 profit and loss

Liabilities Creditors (0.12) - - - (0.12) Financial liabilities at fair value through profit or loss - (0.03) - - (0.03) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (92.68) 11.51 38.08 43.09 -

ANIMA Funds Plc 282 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Italian Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 2.06 - - - 2.06 Debtors - 0.85 - - 0.85 Financial assets at fair value through 98.65 - - - 98.65 profit and loss

Liabilities Creditors (1.56) - - - (1.56) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (0.85) 0.85 - - -

ANIMA High Yield Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 12.62 - - - 12.62 Debtors -1.11- -1.11 Financial assets at fair value through 0.10 - 17.47 68.79 86.36 profit and loss

Liabilities Creditors (0.08) - - - (0.08) Financial liabilities at fair value through profit or loss (0.01) - - - (0.01) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (87.37) 1.11 17.47 68.79 -

ANIMA Funds Plc 283 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Bond 2022 Opportunities Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 4.29 - - - 4.29 Debtors -1.58- -1.58 Financial assets at fair value through 0.13 24.01 63.83 6.26 94.23 profit and loss

Liabilities Creditors (0.07) - - - (0.07) Financial liabilities at fair value through profit or loss (0.03) - - - (0.03) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (95.68) 25.59 63.83 6.26 -

ANIMA Global Macro Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 12.34 - - - 12.34 Debtors -3.04- -3.04 Financial assets at fair value through 11.10 1.86 7.89 65.00 85.85 profit and loss

Liabilities Creditors (0.43) - - - (0.43) Financial liabilities at fair value through profit or loss - (0.80) - - (0.80) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (76.99) 4.10 7.89 65.00 -

ANIMA Funds Plc 284 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2023-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.25 - - - 0.25 Debtors - 0.18 - - 0.18 Financial assets at fair value through 107.12 - - - 107.12 profit and loss

Liabilities Creditors (0.34) - - - (0.34) Financial liabilities at fair value through profit or loss - - (7.21) - (7.21) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares 7.03 0.18 (7.21) - -

ANIMA Brightview 2023-II Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.20 - - - 0.20 Debtors -0.94- -0.94 Financial assets at fair value through - - 88.09 21.60 109.69 profit and loss

Liabilities Creditors (0.62) - - - (0.62) Financial liabilities at fair value through profit or loss - - (10.21) - (10.21) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (100.42) 0.94 77.88 21.60 -

ANIMA Funds Plc 285 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2023-III Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.46 - - - 1.46 Debtors -0.32- -0.32 Financial assets at fair value through - - 71.50 40.13 111.63 profit and loss

Liabilities Creditors (0.38) - - - (0.38) Financial liabilities at fair value through profit or loss - - (13.03) - (13.03) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (98.92) 0.32 58.47 40.13 -

ANIMA Brightview 2023-IV Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.50 - - - 0.50 Debtors -0.90- -0.90 Financial assets at fair value through - - 66.06 49.08 115.14 profit and loss

Liabilities Creditors (0.54) - - - (0.54) Financial liabilities at fair value through profit or loss - - (16.00) - (16.00) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (100.04) 0.90 50.06 49.08 -

ANIMA Funds Plc 286 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2024-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.37 - - - 0.37 Debtors -0.76- -0.76 Financial assets at fair value through - - 43.89 73.08 116.97 profit and loss

Liabilities Creditors (0.34) - - - (0.34) Financial liabilities at fair value through profit or loss - - (17.76) - (17.76) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.97) 0.76 26.13 73.08 -

ANIMA Brightview 2024-II Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.51 - - - 0.51 Debtors -0.74- -0.74 Financial assets at fair value through - - 29.93 87.16 117.09 profit and loss

Liabilities Creditors (0.30) - - - (0.30) Financial liabilities at fair value through profit or loss - - (18.04) - (18.04) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.79) 0.74 11.89 87.16 -

ANIMA Funds Plc 287 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2024-III Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.26 - - - 0.26 Debtors -0.93- -0.93 Financial assets at fair value through - - 51.71 63.38 115.09 profit and loss

Liabilities Creditors (0.49) - - - (0.49) Financial liabilities at fair value through profit or loss - - (15.79) - (15.79) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (100.23) 0.93 35.92 63.38 -

ANIMA Brightview 2024-IV Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.23 - - - 0.23 Debtors -0.63- -0.63 Financial assets at fair value through - - 53.89 60.42 114.31 profit and loss

Liabilities Creditors (0.28) - - - (0.28) Financial liabilities at fair value through profit or loss - - (14.89) - (14.89) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (100.05) 0.63 39.00 60.42 -

ANIMA Funds Plc 288 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2024-V Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.34 - - - 0.34 Debtors -0.35- -0.35 Financial assets at fair value through 1.14 - 56.41 57.13 114.68 profit and loss

Liabilities Creditors (0.30) - - - (0.30) Financial liabilities at fair value through profit or loss - - (15.07) - (15.07) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (98.82) 0.35 41.34 57.13 -

ANIMA Brightview 2025-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.35 - - - 0.35 Debtors -0.47- -0.47 Financial assets at fair value through - 2.45 36.43 79.91 118.79 profit and loss

Liabilities Creditors (0.24) - - - (0.24) Financial liabilities at fair value through profit or loss - - (19.37) - (19.37) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.89) 2.92 17.06 79.91 -

ANIMA Funds Plc 289 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2027-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.24 - - - 0.24 Debtors -0.35- -0.35 Financial assets at fair value through - 0.71 4.67 113.85 119.23 profit and loss

Liabilities Creditors (0.16) - - - (0.16) Financial liabilities at fair value through profit or loss - - - (19.66) (19.66) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.92) 1.06 4.67 94.19 -

ANIMA Brightview-II Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.23 - - - 0.23 Debtors -0.61- -0.61 Financial assets at fair value through - 1.03 37.17 84.81 123.01 profit and loss

Liabilities Creditors (0.05) - - - (0.05) Financial liabilities at fair value through profit or loss - - (23.80) - (23.80) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.82) 1.64 13.37 84.81 -

ANIMA Funds Plc 290 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview-III Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.30 - - - 0.30 Debtors -0.60- -0.60 Financial assets at fair value through - - 39.14 83.46 122.60 profit and loss

Liabilities Creditors (0.05) - - - (0.05) Financial liabilities at fair value through profit or loss - - (23.45) - (23.45) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.75) 0.60 15.69 83.46 -

ANIMA Brightview-IV Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.39 - - - 0.39 Debtors -0.36- -0.36 Financial assets at fair value through - - 20.82 100.12 120.94 profit and loss

Liabilities Creditors (0.05) - - - (0.05) Financial liabilities at fair value through profit or loss - - (21.64) - (21.64) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.66) 0.36 (0.82) 100.12 -

ANIMA Funds Plc 291 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview-V1 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.39 - - - 0.39 Debtors -0.26- -0.26 Financial assets at fair value through - - 11.96 108.22 120.18 profit and loss

Liabilities Creditors (0.06) - - - (0.06) Financial liabilities at fair value through profit or loss - - (1.11) (19.66) (20.77) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.67) 0.26 10.85 88.56 -

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Brightview-VI1 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.45 - - - 0.45 Debtors -0.31- -0.31 Financial assets at fair value through - - 2.05 116.47 118.52 profit and loss

Liabilities Creditors (0.11) - - - (0.11) Financial liabilities at fair value through profit or loss - - (0.06) (19.11) (19.17) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (99.66) 0.31 1.99 97.36 -

ANIMA Funds Plc 292 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview-VII1 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 4.85 - - - 4.85 Debtors ----- Financial assets at fair value through 18.81 72.82 0.01 3.55 95.19 profit and loss

Liabilities Creditors (0.04) - - - (0.04) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (76.38) 72.82 0.01 3.55 -

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Brightview-VIII1 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 7.73 - - - 7.73 Debtors - 0.01 - - 0.01 Financial assets at fair value through - 92.26 - - 92.26 profit and loss

Liabilities Creditors - - - - - Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (92.27) 92.27 - - -

ANIMA Funds Plc 293 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Orizzonte Europa 2022 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.36 - - - 1.36 Debtors - 2.77 - - 2.77 Financial assets at fair value through 9.04 23.53 78.31 - 110.88 profit and loss

Liabilities Creditors (0.98) - - - (0.98) Financial liabilities at fair value through profit or loss - - (14.03) - (14.03) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (90.58) 26.30 64.28 - -

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.88 - - - 1.88 Debtors -2.76- -2.76 Financial assets at fair value through 9.03 12.53 69.71 22.45 113.72 profit and loss

Liabilities Creditors (0.51) - - - (0.51) Financial liabilities at fair value through profit or loss - - (17.85) - (17.85) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (89.60) 15.29 51.86 22.45 -

ANIMA Funds Plc 294 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Orizzonte Sostenibile 2023 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.86 - - - 1.86 Debtors -2.99- -2.99 Financial assets at fair value through - - 97.88 14.08 111.96 profit and loss

Liabilities Creditors (0.39) - - - (0.39) Financial liabilities at fair value through profit or loss - - (16.42) - (16.42) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (98.53) 2.99 81.46 14.08 -

ANIMA Orizzonte Benessere 2023 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.92 - - - 1.92 Debtors -3.14- -3.14 Financial assets at fair value through - - 88.79 26.47 115.26 profit and loss

Liabilities Creditors (0.48) - - - (0.48) Financial liabilities at fair value through profit or loss - - (19.84) - (19.84) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (98.56) 3.14 68.95 26.47 -

ANIMA Funds Plc 295 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Orizzonte Consumi 2023 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 1.47 - - - 1.47 Debtors -4.06- -4.06 Financial assets at fair value through - - 90.79 25.25 116.04 profit and loss

Liabilities Creditors (1.60) - - - (1.60) Financial liabilities at fair value through profit or loss - - (19.97) - (19.97) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (100.13) 4.06 70.82 25.25 -

ANIMA Orizzonte Energia 2023 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 0.94 - - - 0.94 Debtors -5.11- -5.11 Financial assets at fair value through - - 89.73 23.65 113.38 profit and loss

Liabilities Creditors (2.66) - - - (2.66) Financial liabilities at fair value through profit or loss - - (16.77) - (16.77) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (101.72) 5.11 72.96 23.65 -

ANIMA Funds Plc 296 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Defensive Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 6.06 - - - 6.06 Debtors ----- Financial assets at fair value through 95.50 - - - 95.50 profit and loss

ANIMA Zephyr Global Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 11.48 - - - 11.48 Debtors -1.32- -1.32 Financial assets at fair value through - - 75.75 11.64 87.39 profit and loss

Liabilities Creditors (0.19) - - - (0.19) Financial liabilities at fair value through profit or loss ----- Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (88.71) 1.32 75.75 11.64 -

ANIMA Funds Plc 297 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Zephyr Global Allocation Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 5.57 - - - 5.57 Debtors -1.01- -1.01 Financial assets at fair value through 6.81 2.63 73.66 10.45 93.55 profit and loss

Liabilities Creditors (0.13) - - - (0.13) Financial liabilities at fair value through profit or loss ----- Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (87.75) 3.64 73.66 10.45 -

ANIMA Zephyr New1 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 6.24 - - - 6.24 Debtors -1.22- -1.22 Financial assets at fair value through 14.72 6.58 61.36 10.19 92.85 profit and loss

Liabilities Creditors (0.31) - - - (0.31) Financial liabilities at fair value through profit or loss ----- Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (79.35) 7.80 61.36 10.19 -

ANIMA Funds Plc 298 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Zephyr Real Assets Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 4.48 - - - 4.48 Debtors -0.94- -0.94 Financial assets at fair value through 6.48 3.54 71.12 13.52 94.66 profit and loss

Liabilities Creditors (0.05) - - - (0.05) Financial liabilities at fair value through profit or loss - (0.03) - - (0.03) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (89.09) 4.45 71.12 13.52 -

ANIMA International Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2020 % % % % %

Assets Cash and cash equivalents 10.45 - - - 10.45 Debtors -0.48- -0.48 Financial assets at fair value through 0.68 11.72 22.04 54.91 89.35 profit and loss

Liabilities Creditors (0.11) - - - (0.11) Financial liabilities at fair value through profit or loss (0.16) (0.01) - - (0.17) Net Assets Attributable to Holders of (100.00) - - - (100.00) Redeemable Participating Shares (89.14) 12.19 22.04 54.91 -

ANIMA Funds Plc 299 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Liquidity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 8.61 - - - 8.61 Debtors - 1.22 - - 1.22 Financial assets at fair value through profit and loss 9.71 81.66 - - 91.37

Liabilities Creditors (1.20) - - - (1.20) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (82.88) 82.88 - - -

ANIMA Short Term Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.65 - - - 2.65 Debtors - 1.16 - - 1.16 Financial assets at fair value through profit and loss - 3.73 93.03 - 96.76

Liabilities Creditors (0.57) - - - (0.57) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (97.92) 4.89 93.03 - -

The tables above analyses the Fund’s financial assets into relevant maturity groupings based on the remaining period at the Statement of Financial Position date to the bond maturity date. The percentages in the tables above are as a percentage of the NAV of the Funds.

ANIMA Funds Plc 300 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Medium Term Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.30 - - - 2.30 Debtors -1.21- -1.21 Financial assets at fair value through profit and loss - 2.72 33.96 60.11 96.79

Liabilities Creditors (0.30) - - - (0.30) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (98.00) 3.93 33.96 60.11 -

ANIMA Bond Dollar Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 5.62 - - - 5.62 Debtors -0.53- -0.53 Financial assets at fair value through profit and loss - 1.13 51.47 41.60 94.20

Liabilities Creditors (0.35) - - - (0.35) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (94.73) 1.66 51.47 41.60 -

ANIMA Funds Plc 301 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Global Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 3.17 - - - 3.17 Debtors -0.91- -0.91 Financial assets at fair value through profit and loss - 3.15 38.58 54.37 96.10

Liabilities Creditors (0.18) - - - (0.18) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (97.01) 4.06 38.58 54.37 -

ANIMA Life Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 4.65 - - - 4.65 Debtors -0.56- -0.56 Financial assets at fair value through profit and loss 0.82 11.98 71.91 10.27 94.98

Liabilities Creditors (0.19) - - - (0.19) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (94.72) 12.54 71.91 10.27 -

ANIMA Funds Plc 302 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Short Term Corporate Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 17.31 - - - 17.31 Debtors -1.62- -1.62 Financial assets at fair value through profit and loss 0.57 19.32 51.68 9.83 81.40

Liabilities Creditors (0.17) - - - (0.17) Financial liabilities at fair value through profit or loss (0.16) - - - (0.16) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (82.45) 20.94 51.68 9.83 -

ANIMA Europe Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.33 - - - 2.33 Debtors - 0.77 - - 0.77 Financial assets at fair value through profit and loss 97.91 0.02 - - 97.93

Liabilities Creditors (0.54) - - - (0.54) Financial liabilities at fair value through profit or loss (0.49) - - - (0.49) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (0.79) 0.79 - - -

ANIMA Funds Plc 303 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA U.S. Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 5.14 - - - 5.14 Debtors - 0.45 - - 0.45 Financial assets at fair value through profit and loss 94.91 0.09 - - 95.00

Liabilities Creditors (0.39) - - - (0.39) Financial liabilities at fair value through profit or loss (0.20) - - - (0.20) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (0.54) 0.54 - - -

ANIMA Asia/Pacific Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 14.24 - - - 14.24 Debtors - 0.16 - - 0.16 Financial assets at fair value through profit and loss 86.23 - - - 86.23

Liabilities Creditors (0.47) - - - (0.47) Financial liabilities at fair value through profit or loss - (0.16) - - (0.16) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) -----

ANIMA Funds Plc 304 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Global Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.81 - - - 2.81 Debtors - 0.23 - - 0.23 Financial assets at fair value through profit and loss 98.07 - - - 98.07

Liabilities Creditors (0.40) - - - (0.40) Financial liabilities at fair value through profit or loss (0.71) - - - (0.71) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (0.23) 0.23 - - -

ANIMA Emerging Markets Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 11.11 - - - 11.11 Debtors - 0.20 - - 0.20 Financial assets at fair value through profit and loss 89.15 0.21 - - 89.36

Liabilities Creditors (0.66) - - - (0.66) Financial liabilities at fair value through profit or loss (0.01) - - - (0.01) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (0.41) 0.41 - - -

ANIMA Funds Plc 305 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Euro Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.96 - - - 0.96 Debtors - 0.47 - - 0.47 Financial assets at fair value through profit and loss 98.84 - - - 98.84

Liabilities Creditors (0.23) - - - (0.23) Financial liabilities at fair value through profit or loss (0.04) - - - (0.04) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (0.47) (0.47) - - -

ANIMA Global Currencies Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 25.39 - - - 25.39 Debtors - 0.57 - - 0.57 Financial assets at fair value through profit and loss 0.83 65.55 9.20 - 75.58

Liabilities Creditors (0.44) - - - (0.44) Financial liabilities at fair value through profit or loss (1.10) - - - (1.10) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (75.32) 66.12 9.20 - -

ANIMA Funds Plc 306 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Variable Rate Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 1.61 - - - 1.61 Debtors -0.18- -0.18 Financial assets at fair value through profit and loss - 11.49 51.69 35.44 98.62

Liabilities Creditors (0.40) - - - (0.40) Financial liabilities at fair value through profit or loss - (0.01) - - (0.01) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (98.79) 11.66 51.69 35.44 -

ANIMA Hybrid Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 3.37 - - - 3.37 Debtors -1.61- -1.61 Financial assets at fair value through profit and loss 0.10 0.78 3.00 91.48 95.36

Liabilities Creditors (0.12) - - - (0.12) Financial liabilities at fair value through profit or loss (0.22) - - - (0.22) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (96.87) 2.39 3.00 91.48 -

ANIMA Funds Plc 307 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Euro Government Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.70 - - - 2.70 Debtors -1.03- -1.03 Financial assets at fair value through profit and loss 1.63 11.89 17.20 65.84 96.56

Liabilities Creditors (0.22) - - - (0.22) Financial liabilities at fair value through profit or loss (0.03) (0.04) - - (0.07) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (95.92) 12.88 17.20 65.84 -

ANIMA Star High Potential Europe Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 18.99 - - - 18.99 Debtors - 0.75 - - 0.75 Financial assets at fair value through profit and loss 52.94 28.47 - - 81.41

Liabilities Creditors (0.66) - - - (0.66) Financial liabilities at fair value through profit or loss (0.48) (0.01) - - (0.49) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (29.21) 29.21 - - -

ANIMA Funds Plc 308 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Star Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 8.60 - - - 8.60 Debtors -1.28- -1.28 Financial assets at fair value through profit and loss 6.03 1.40 26.75 57.58 91.76

Liabilities Creditors (0.28) - - - (0.28) Financial liabilities at fair value through profit or loss (1.35) (0.01) - - (1.36) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (87.00) 2.67 26.75 57.58 -

ANIMA Smart Volatility Europe Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 11.03 - - - 11.03 Debtors - 0.30 - - 0.30 Financial assets at fair value through profit and loss 7.81 55.68 25.58 - 89.07

Liabilities Creditors (0.25) - - - (0.25) Financial liabilities at fair value through profit or loss - (0.15) - - (0.15) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (81.41) 55.83 25.58 - -

ANIMA Funds Plc 309 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Smart Volatility Global Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 11.54 - - - 11.54 Debtors - 0.33 - - 0.33 Financial assets at fair value through profit and loss 10.07 53.80 24.38 - 88.25

Liabilities Creditors (0.09) - - - (0.09) Financial liabilities at fair value through profit or loss - (0.03) - - (0.03) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (78.48) 54.10 24.38 - -

ANIMA Smart Volatility Italy Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 7.35 - - - 7.35 Debtors - 0.30 - - 0.30 Financial assets at fair value through profit and loss 12.59 58.22 22.43 - 93.24

Liabilities Creditors (0.40) - - - (0.40) Financial liabilities at fair value through profit or loss (0.04) (0.45) - - (0.49) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (80.50) 58.07 22.43 - -

ANIMA Funds Plc 310 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Smart Volatility USA Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 8.49 - - - 8.49 Debtors - 0.12 - - 0.12 Financial assets at fair value through profit and loss 12.15 63.93 15.40 - 91.48

Liabilities Creditors (0.09) - - - (0.09) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (79.45) 64.05 15.40 - -

ANIMA Credit Opportunities Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 17.63 - - - 17.63 Debtors -0.93- -0.93 Financial assets at fair value through profit and loss 0.10 5.78 48.95 26.83 81.66

Liabilities Creditors (0.07) - - - (0.07) Financial liabilities at fair value through profit or loss (0.15) - - - (0.15) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (82.49) 6.71 48.95 26.83 -

ANIMA Funds Plc 311 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Star High Potential Italy Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 8.93 - - - 8.93 Debtors -0.32- -0.32 Financial assets at fair value through profit and loss 40.09 11.91 36.73 2.44 91.17

Liabilities Creditors (0.42) - - - (0.42) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (51.40) 12.23 36.73 2.44 -

ANIMA Star High Potential Global Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 18.98 - - - 18.98 Debtors -0.39- -0.39 Financial assets at fair value through profit and loss 58.99 18.38 0.79 3.15 81.31

Liabilities Creditors (0.36) - - - (0.36) Financial liabilities at fair value through profit or loss (0.32) - - - (0.32) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (22.71) 18.77 0.79 3.15 -

ANIMA Funds Plc 312 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Active Selection Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 5.29 - - - 5.29 Financial assets at fair value through profit and loss 95.22 - - - 95.22

Liabilities Creditors (0.51) - - - (0.51) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) -----

ANIMA Smart Dividends Europe Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 5.40 - - - 5.40 Debtors - 0.21 - - 0.21 Financial assets at fair value through profit and loss 68.20 21.48 5.05 - 95.09

Liabilities Creditors (0.70) - - - (0.70) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (27.10) 22.05 5.05 - -

ANIMA Funds Plc 313 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Flexible Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 8.26 - - - 8.26 Debtors -0.64- -0.64 Financial assets at fair value through profit and loss 9.16 5.02 27.59 50.52 92.29

Liabilities Creditors (0.22) - - - (0.22) Financial liabilities at fair value through profit or loss (0.64) (0.33) - - (0.97) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (83.44) 5.33 27.59 50.52 -

ANIMA Flexible Income Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 11.04 - - - 11.04 Debtors -0.69- -0.69 Financial assets at fair value through profit and loss 9.74 16.76 29.35 33.72 89.57

Liabilities Creditors (0.67) - - - (0.67) Financial liabilities at fair value through profit or loss (0.62) (0.01) - - (0.63) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (80.51) 17.44 29.35 33.72 -

ANIMA Funds Plc 314 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Infrastructure Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 16.93 - - - 16.93 Debtors -0.31- -0.31 Financial assets at fair value through profit and loss 64.22 20.23 - 1.10 85.55

Liabilities Creditors (2.21) - - - (2.21) Financial liabilities at fair value through profit or loss (0.38) (0.20) - - (0.58) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (21.44) 20.34 - 1.10 -

ANIMA Solution 2022-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 7.78 - - - 7.78 Debtors - 0.63 - - 0.63 Financial assets at fair value through profit and loss 36.92 14.80 46.08 - 97.80

Liabilities Creditors (6.21) - - - (6.21) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (61.51) 15.43 46.08 - -

ANIMA Funds Plc 315 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Solution 2022-II Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 4.62 - - - 4.62 Debtors - 0.55 - - 0.55 Financial assets at fair value through profit and loss 36.46 12.44 46.87 - 95.77

Liabilities Creditors (0.94) - - - (0.94) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (59.86) 12.99 46.87 - -

ANIMA Solution 2022-III Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 6.63 - - - 6.63 Debtors - 0.50 - - 0.50 Financial assets at fair value through profit and loss 48.20 - 46.10 - 94.30

Liabilities Creditors (1.43) - - - (1.43) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (46.60) 0.50 46.10 - -

ANIMA Funds Plc 316 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Solution 2023-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 7.68 - - - 7.68 Debtors ----- Financial assets at fair value through profit and loss 92.56 - - - 92.56

Liabilities Creditors (0.24) - - - (0.24) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) -----

ANIMA Solution EM Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 6.17 - - - 6.17 Financial assets at fair value through profit and loss 93.99 - - - 93.99

Liabilities Creditors (0.16) - - - (0.16) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) -----

ANIMA Funds Plc 317 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Italian Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.78 - - - 2.78 Debtors -0.45- -0.45 Financial assets at fair value through profit and loss - 22.20 27.64 47.22 97.06

Liabilities Creditors (0.27) - - - (0.27) Financial liabilities at fair value through profit or loss - (0.02) - - (0.02) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (97.49) 22.63 27.64 47.22 -

ANIMA Italian Equity Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 3.72 - - - 3.72 Debtors - 0.24 - - 0.24 Financial assets at fair value through profit and loss 99.70 - - - 99.70

Liabilities Creditors (3.66) - - - (3.66) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (0.24) 0.24 - - -

ANIMA Funds Plc 318 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA High Yield Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 4.61 - - - 4.61 Debtors -1.25- -1.25 Financial assets at fair value through profit and loss 7.01 0.12 14.58 72.91 94.62

Liabilities Creditors (0.19) - - - (0.19) Financial liabilities at fair value through profit or loss (0.29) - - - (0.29) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (88.86) 1.37 14.58 72.91 -

ANIMA Bond 2022 Opportunities Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 13.40 - - - 13.40 Debtors -1.29- -1.29 Financial assets at fair value through profit and loss 0.96 18.93 59.77 5.89 85.55

Liabilities Creditors (0.11) - - - (0.11) Financial liabilities at fair value through profit or loss (0.13) - - - (0.13) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (85.88) 20.22 59.77 5.89 -

ANIMA Funds Plc 319 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Global Macro Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 7.68 - - - 7.68 Debtors -3.70- -3.70 Financial assets at fair value through profit and loss 5.56 52.33 1.90 29.29 89.08

Liabilities Creditors (0.13) - - - (0.13) Financial liabilities at fair value through profit or loss - (0.33) - - (0.33) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (86.89) 55.70 1.90 29.29 -

ANIMA Brightview 2023-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.04 - - - 0.04 Debtors - 0.55 - - 0.55 Financial assets at fair value through profit and loss 114.76 - - - 114.76

Liabilities Creditors (0.67) - - - (0.67) Financial liabilities at fair value through profit or loss - - (14.68) - (14.68) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) 14.13 0.55 (14.68) - -

ANIMA Funds Plc 320 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2023-II Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.24 - - - 0.24 Debtors -0.83- -0.83 Financial assets at fair value through profit and loss - - 96.98 14.13 111.11

Liabilities Creditors (0.39) - - - (0.39) Financial liabilities at fair value through profit or loss - - (11.79) - (11.79) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (100.15) 0.83 85.19 14.13 -

ANIMA Brightview 2023-III Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.33 - - - 0.33 Debtors -1.08- -1.08 Financial assets at fair value through profit and loss - - 80.89 33.44 114.33

Liabilities Creditors (0.83) - - - (0.83) Financial liabilities at fair value through profit or loss - - (14.91) - (14.91) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (100.50) 1.08 65.98 33.44 -

ANIMA Funds Plc 321 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2023-IV Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.36 - - - 0.36 Debtors -0.59- -0.59 Financial assets at fair value through profit and loss - - 66.42 48.62 115.04

Liabilities Creditors (0.12) - - - (0.12) Financial liabilities at fair value through profit or loss - - (15.87) - (15.87) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (99.76) 0.59 50.55 48.62 -

ANIMA Brightview 2024-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 1.74 - - - 1.74 Debtors -0.54- -0.54 Financial assets at fair value through profit and loss - - 43.49 71.74 115.23

Liabilities Creditors (0.19) - - - (0.19) Financial liabilities at fair value through profit or loss - - (17.32) - (17.32) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (98.45) 0.54 26.17 71.74 -

ANIMA Funds Plc 322 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2024-II Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.17 - - - 0.17 Debtors -0.93- -0.93 Financial assets at fair value through profit and loss - 1.02 44.79 71.66 117.47

Liabilities Creditors (0.27) - - - (0.27) Financial liabilities at fair value through profit or loss - - (18.30) - (18.30) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (100.10) 1.95 26.49 71.66 -

ANIMA Brightview 2024-III Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.34 - - - 0.34 Debtors -1.10- -1.10 Financial assets at fair value through profit and loss - 2.45 49.86 63.85 116.16

Liabilities Creditors (0.66) - - - (0.66) Financial liabilities at fair value through profit or loss - - (16.94) - (16.94) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (100.32) 3.55 32.92 63.85

ANIMA Funds Plc 323 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2024-IV Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.54 - - - 0.54 Debtors -0.96- -0.96 Financial assets at fair value through profit and loss - 3.09 52.56 59.31 114.96

Liabilities Creditors (0.71) - - - (0.71) Financial liabilities at fair value through profit or loss - - (15.75) - (15.75) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (100.17) 4.05 36.81 59.31 -

ANIMA Brightview 2024-V Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.19 - - - 0.19 Debtors -0.74- -0.74 Financial assets at fair value through profit and loss - - 54.15 62.05 116.20

Liabilities Creditors (0.52) - - - (0.52) Financial liabilities at fair value through profit or loss - - (16.61) - (16.61) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (100.33) 0.74 37.54 62.05 -

ANIMA Funds Plc 324 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview 2025-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.05 - - - 0.05 Debtors -0.49- -0.49 Financial assets at fair value through profit and loss - - 7.56 111.46 119.02

Liabilities Creditors (0.09) - - - (0.09) Financial liabilities at fair value through profit or loss - - - (19.47) (19.47) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (100.04) 0.49 7.56 91.99 -

ANIMA Brightview 2027-I Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.49 - - - 0.49 Debtors -0.79- -0.79 Financial assets at fair value through profit and loss - - 5.11 116.81 121.92

Liabilities Creditors (0.53) - - - (0.53) Financial liabilities at fair value through profit or loss - - - (22.67) (22.67) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (100.04) 0.79 5.11 94.14 -

ANIMA Funds Plc 325 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview-II Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.32 - - - 0.32 Debtors - 2.62 - - 2.62 Financial assets at fair value through profit and loss 17.57 79.52 - - 97.09

Liabilities Creditors (0.03) - - - (0.03) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (82.14) 82.14 - - -

ANIMA Brightview-III Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.33 - - - 0.33 Debtors - 2.63 - - 2.63 Financial assets at fair value through profit and loss 16.80 80.27 - - 97.07

ANIMA Funds Plc 326 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Brightview-IV Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 6.02 - - - 6.02 Debtors -1.86- -1.86 Financial assets at fair value through profit and loss 92.14 - - 0.20 92.34

Liabilities Creditors (0.03) - - - (0.03) Financial liabilities at fair value through profit or loss - - - (0.19) (0.19) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (1.87) 1.86 - 0.01 -

ANIMA Orizzonte Europa 2022 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.15 - - - 2.15 Debtors - 2.63 - - 2.63 Financial assets at fair value through profit and loss 8.60 0.83 102.69 - 112.12

Liabilities Creditors (0.27) - - - (0.27) Financial liabilities at fair value through profit or loss - - (16.63) - (16.63) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (89.52) 3.46 86.06 - -

ANIMA Funds Plc 327 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.08 - - - 2.08 Debtors -2.95- -2.95 Financial assets at fair value through profit and loss 9.52 - 83.88 21.46 114.86

Liabilities Creditors (0.19) - - - (0.19) Financial liabilities at fair value through profit or loss - - (19.70) - (19.70) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (88.59) 2.95 64.18 21.46 -

ANIMA Orizzonte Sostenibile 2023 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 0.85 - - - 0.85 Debtors -3.55- -3.55 Financial assets at fair value through profit and loss - - 101.74 13.64 115.38

Liabilities Creditors (0.23) - - - (0.23) Financial liabilities at fair value through profit or loss - - (19.55) - (19.55) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (99.38) 3.55 82.19 13.64 -

ANIMA Funds Plc 328 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Orizzonte Benessere 2023 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 1.19 - - - 1.19 Debtors -3.41- -3.41 Financial assets at fair value through profit and loss - - 90.92 26.94 117.86

Liabilities Creditors (0.45) - - - (0.45) Financial liabilities at fair value through profit or loss - - (22.01) - (22.01) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (99.26) 3.41 68.91 26.94 -

ANIMA Orizzonte Consumi 2023 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.49 - - - 2.49 Debtors -3.52- -3.52 Financial assets at fair value through profit and loss - - 89.62 28.38 118.00

Liabilities Creditors (0.84) - - - (0.84) Financial liabilities at fair value through profit or loss - - (23.17) - (23.17) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (98.35) 3.52 66.45 28.38 -

ANIMA Funds Plc 329 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Orizzonte Energia 2023 Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.29 - - - 2.29 Debtors -3.42- -3.42 Financial assets at fair value through profit and loss - - 89.49 26.22 115.71

Liabilities Creditors (1.27) - - - (1.27) Financial liabilities at fair value through profit or loss - - (20.15) - (20.15) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (98.98) 3.42 69.34 26.22 -

ANIMA Defensive Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 11.92 - - - 11.92 Debtors - 0.09 - - 0.09 Financial assets at fair value through profit and loss 88.42 - - - 88.42

Liabilities Creditors (0.43) - - - (0.43) Financial liabilities at fair value through profit or loss - - - - - Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (0.09) 0.09 - - -

ANIMA Funds Plc 330 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Zephyr Global Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 12.42 - - - 12.42 Debtors -1.33- -1.33 Financial assets at fair value through profit and loss - 21.34 52.99 12.07 86.40

Liabilities Creditors (0.15) - - - (0.15) Financial liabilities at fair value through profit or loss ----- Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (87.73) 22.67 52.99 12.07 -

ANIMA Zephyr Global Allocation Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 13.33 - - - 13.33 Debtors -0.98- -0.98 Financial assets at fair value through profit and loss 6.48 16.17 53.87 9.46 85.98

Liabilities Creditors (0.18) - - - (0.18) Financial liabilities at fair value through profit or loss - (0.11) - - (0.11) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (80.37) 17.04 53.87 9.46 -

ANIMA Funds Plc 331 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Liquidity risk (continued)

ANIMA Zephyr Real Assets Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 12.31 - - - 12.31 Debtors -0.90- -0.90 Financial assets at fair value through profit and loss 6.10 10.51 55.58 14.86 87.05

Liabilities Creditors (0.22) - - - (0.22) Financial liabilities at fair value through profit or loss - (0.04) - - (0.04) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (81.81) 11.37 55.58 14.86 -

ANIMA International Bond Less than 1 month to 1to5 1month 1year years >5 years Total As at 31 December 2019 % % % % %

Assets Cash and cash equivalents 2.84 - - - 2.84 Debtors -0.68- -0.68 Financial assets at fair value through profit and loss 0.21 23.41 19.35 53.77 96.74

Liabilities Creditors (0.22) - - - (0.22) Financial liabilities at fair value through profit or loss (0.04) - - - (0.04) Net Assets Attributable to Holders of Redeemable Participating Shares (100.00) - - - (100.00) (97.21) 24.09 19.35 53.77 -

Offsetting Financial Assets and Financial Liabilities

Each Fund may be eligible to present net on the Statement of Financial Position, certain financial assets and liabilities according to criteria described in Note 1 (c) to the Financial Statements.

As at 31 December 2020, none of the financial assets and financial liabilities met the eligibility criteria and therefore none were presented net on the Statement of Financial Position.

The following tables presents each Funds financial assets and financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements. The tables are presented by counterparty. MPS Capital Services Counterparty A JP Morgan Counterparty B BNP Paribas Counterparty C

ANIMA Funds Plc 332 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

Credit Agricole Counterparty E Credit Suisse Counterparty F Deutsche Bank Counterparty G Morgan Stanley Counterparty H Nomura International Counterparty K Goldman Sachs Counterparty Q Pictet and CIE Counterparty X Unicredit Bank Counterparty Z

ANIMA Short Term Corporate Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E 36,616 (21,076) - 15,540 Counterparty H 306,679 (64,200) - 242,479 Counterparty Q 930 - - 930

344,225 (85,276) - 258,949

(85,276) 210,824,200 - 210,738,924

ANIMA Europe Equity Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 151,057 (75,291) - 75,766 Counterparty H 295,661 (116,854) - 178,807 Counterparty Q 746,788 (279,154) - 467,634

1,193,506 (471,299) - 722,207

ANIMA Funds Plc 333 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (75,291) 75,291 - - Counterparty H (116,854) 116,854 - - Counterparty Q (279,154) 279,154 - -

(471,299) 471,299 - -

ANIMA U.S. Equity Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 417,082 (417,082) - - Counterparty H 1,164,559 (824,311) - 340,248 Counterparty Q 197,943 (5,898) - 192,045

1,779,584 (1,247,291) - 532,293

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (849,956) 417,082 432,874 - Counterparty H (824,311) 824,311 - - Counterparty Q (5,898) 5,898 - -

(1,680,165) 1,247,291 432,874 -

ANIMA Asia/Pacific Equity Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 80,308 (5,676) - 74,632

80,308 (5,676) - 74,632

ANIMA Funds Plc 334 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(5,676) 5,676 - -

ANIMA Global Equity Value1 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 222,400 (222,400) - - Counterparty H 79,827 (79,827) - - Counterparty Q 163,742 (12,716) - 151,026

465,969 (314,943) - 151,026

Counterparty B (352,785) 222,400 - (130,385) Counterparty H (212,999) 79,827 10,000 (123,172) Counterparty Q (12,716) 12,716 - -

(578,500) 314,943 10,000 (253,557)

1ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

ANIMA Funds Plc 335 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Emerging Markets Equity Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 371,486 - - 371,486 Counterparty H 44,974 (10,472) - 34,502

416,460 (10,472) - 405,988

(10,472) 10,472 - -

ANIMA Global Selection 1 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty Q 6,796 (460) - 6,336

6,796 (460) - 6,336

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

(460) 460 - -

ANIMA Funds Plc 336 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Euro Equity Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 4,073 (1,755) - 2,318 Counterparty H 3,753 (3,753) - - Counterparty Q 16,573 (16,573) - -

24,399 (22,081) - 2,318

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (1,755) 1,755 - - Counterparty H (14,384) 3,753 - (10,631) Counterparty Q (36,231) 16,573 - (19,658)

(52,370) 22,081 - (30,289)

ANIMA Global Currencies Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 23,534 - - 23,534 Counterparty H 41 (41) - - Counterparty K 14,845 - - 14,845

38,420 (41) - 38,379

(11,853) 41 - (11,812)

ANIMA Funds Plc 337 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Variable Rate Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 750 - - 750

750 - - 750

ANIMA Hybrid Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E 55,719 - - 55,719 Counterparty H 145,843 (21,689) - 124,154 Counterparty Z 11,389 (864) - 10,525

212,951 (22,553) - 190,398

(22,553) 22,553 - -

ANIMA Euro Government Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 27,000 (27,000) - -

27,000 (27,000) - -

ANIMA Funds Plc 338 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(90,291) 27,000 - (63,291)

ANIMA Star High Potential Europe Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 296,452 (253,110) - 43,342 Counterparty C 35,550 (35,550) - - Counterparty H 1,368,278 (1,368,278) - - Counterparty Q 1,725,637 (122,929) - 1,602,708

3,425,917 (1,779,867) - 1,646,050

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (253,110) 253,110 - - Counterparty C (1,294,498) 35,550 - (1,258,948) Counterparty H (3,482,011) 1,368,278 1,740,000 (373,733) Counterparty Q (122,929) 122,929 - -

(5,152,548) 1,779,867 1,740,000 (1,632,681)

ANIMA Star Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 762,833 - - 762,833 Counterparty C 87,995 (87,995) - -

850,828 (87,995) - 762,833

ANIMA Funds Plc 339 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(94,500) 87,995 - (6,505)

ANIMA Smart Volatility Europe Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 66,631 (13,864) - 52,767

66,631 (13,864) - 52,767

(13,864) 13,864 - -

ANIMA Smart Volatility Global Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 1,627,793 (12,379) - 1,615,414

1,627,793 (12,379) - 1,615,414

ANIMA Funds Plc 340 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(12,379) 12,379 - -

ANIMA Smart Volatility Italy Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 90,620 - - 90,620

90,620 - - 90,620

ANIMA Smart Volatility USA Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 920,177 - - 920,177

920,177 - - 920,177

ANIMA Smart Volatility Emerging Markets Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 1,044,720 - - 1,044,720

1,044,720 - - 1,044,720

ANIMA Funds Plc 341 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Credit Opportunities Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E 48,755 - - 48,755 Counterparty H 211,067 - - 211,067 Counterparty Z 168,867 (29,471) - 139,396

428,689 (29,471) - 399,218

(29,471) 29,471 - -

ANIMA Star High Potential Italy Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 45,760 - - 45,760

45,760 - - 45,760

ANIMA Funds Plc 342 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Trading Fund1 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 212,696 (212,695) - 1 Counterparty H 944,031 (65,651) - 878,380 Counterparty Q 161,538 (6,579) - 154,959

1,318,265 (284,925) - 1,033,340

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (233,546) 212,695 - (20,851) Counterparty H (65,651) 65,651 - - Counterparty Q (6,579) 6,579 - -

(305,776) 284,925 - (20,851)

ANIMA Flexible Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 7,919 (7,919) - - Counterparty C 28,600 (23,120) - 5,480 Counterparty E 42,072 (42,072) - - Counterparty H 32,390 (10,889) - 21,501

110,981 (84,000) - 26,981

ANIMA Funds Plc 343 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (79,620) 7,919 - (71,701) Counterparty C (23,120) 23,120 - - Counterparty E (76,693) 42,072 - (34,621) Counterparty H (10,889) 10,889 - - Counterparty K (22,858) - - (22,858)

(213,180) 84,000 - (129,180)

ANIMA Italian Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 450 (450) - -

450 (450) - -

(9,118) 450 - (8,668)

ANIMA High Yield Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E 7,912 - - 7,912 Counterparty H 8,888 (2,676) - 6,212

16,800 (2,676) - 14,124

ANIMA Funds Plc 344 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(2,676) 2,676 - -

ANIMA Bond 2022 Opportunities Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E 55,156 - - 55,156 Counterparty Z 8,827 (8,827) - -

63,983 (8,827) - 55,156

(15,879) 8,827 - (7,052)

ANIMA Global Macro Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 1,034,475 (280,315) - 754,160 Counterparty C 1,457,782 (159,130) - 1,298,652 Counterparty H 851,608 (52,334) - 799,274 Counterparty K 692,310 (692,310) - -

4,036,175 (1,184,089) - 2,852,086

ANIMA Funds Plc 345 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (280,315) 280,315 - - Counterparty C (159,130) 159,130 - - Counterparty H (52,334) 52,334 - - Counterparty K (1,224,989) 692,310 350,000 (182,679)

(1,716,768) 1,184,089 350,000 (182,679)

ANIMA Brightview 2023-I Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A (1,461,335) - - (1,461,335) Counterparty B (512,604) - - (512,604)

(1,973,939) - - (1,973,939)

ANIMA Brightview 2023-II Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,265,384 (2,265,384) - - Counterparty B 2,884,937 - - 2,884,937

5,150,321 (2,265,384) - 2,884,937

(12,532,948) 2,265,384 - (10,267,564)

ANIMA Funds Plc 346 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Brightview 2023-III Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,064,165 (2,064,165) - -

2,064,165 (2,064,165) - -

(5,048,809) 2,064,165 - (2,984,644)

ANIMA Brightview 2023-IV Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 782,218 (782,218) - - Counterparty B 620,719 - - 620,719

1,402,937 (782,218) - 620,719

(8,453,582) 782,218 - (7,671,364)

ANIMA Funds Plc 347 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Brightview 2024-I Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,979,592 (2,979,592) - -

2,979,592 (2,979,592) - -

(12,260,232) 2,979,592 - (9,280,640)

ANIMA Brightview 2024-II Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 1,555,746 (1,555,746) - - Counterparty B 754,660 - - 754,660

2,310,406 (1,555,746) - 754,660

(15,795,468) 1,555,746 - (14,239,722)

ANIMA Funds Plc 348 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Brightview 2024-III Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 5,407,923 (5,407,923) - - Counterparty Q 3,244,645 - - 3,244,645

8,652,568 (5,407,923) - 3,244,645

(15,403,953) 5,407,923 - (9,996,030)

ANIMA Brightview 2024-IV Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 3,673,884 (3,673,884) - - Counterparty B 3,777,135 - - 3,777,135

7,451,019 (3,673,884) - 3,777,135

(14,914,607) 3,673,884 - (11,240,723)

ANIMA Funds Plc 349 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Brightview 2024-V Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 12,669,790 (12,669,790) - - Counterparty Q 3,374,346 - - 3,374,346

16,044,136 (12,669,790) - 3,374,346

(18,691,096) 12,669,790 - (6,021,306)

ANIMA Brightview 2025-I Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 13,623,519 (13,623,519) - - Counterparty Q 2,868,533 - - 2,868,533

16,492,052 (13,623,519) - 2,868,533

(47,167,059) 13,623,519 - (33,543,540)

ANIMA Funds Plc 350 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Brightview 2027-I Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 7,281,765 (7,281,765) - - Counterparty B 9,827,213 - - 9,827,213

17,108,978 (7,281,765) - 9,827,213

(20,450,601) 7,281,765 - (13,168,836)

ANIMA Brightview-II Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,215,701 (2,215,701) - - Counterparty B 760,537 - - 760,537

2,976,238 (2,215,701) - 760,537

(15,274,690) 2,215,701 - (13,058,989)

ANIMA Funds Plc 351 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Brightview-III Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,915,132 (2,915,132) - - Counterparty B 835,315 - - 835,315

3,750,447 (2,915,132) - 835,315

(14,625,751) 2,915,132 - (11,710,619)

ANIMA Brightview-IV Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 4,198,851 (4,198,851) - - Counterparty Q 1,618,625 - - 1,618,625

5,817,476 (4,198,851) - 1,618,625

(16,863,315) 4,198,851 - (12,664,464)

ANIMA Funds Plc 352 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Brightview-V1 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 1,593,544 (1,593,544) - - Counterparty B 1,533,325 (1,533,325) - -

3,126,869 (3,126,869) - -

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A (3,740,118) 1,593,544 - (2,146,574) Counterparty B (4,157,830) 1,533,325 - (2,624,505)

(7,897,948) 3,126,869 - (4,771,079)

ANIMA Brightview-VI1 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 15,694,252 (15,694,252) - - Counterparty B 137,685 - - 137,685 Counterparty Q 2,346,715 - - 2,346,715

18,178,652 (15,694,252) - 2,484,400

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 353 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(39,911,158) 15,694,252 - (24,216,906)

ANIMA Brightview-VII1 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 3,446,956 (1) - 3,446,955

3,446,956 (1) - 3,446,955

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

(1) 1 - -

ANIMA Brightview-VIII1 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 8 (8) - -

8(8)--

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 354 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(11) 8 - (3)

ANIMA Orizzonte Europa 2022 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 609,883 (609,883) - -

609,883 (609,883) - -

(4,467,452) 609,883 - (3,857,569)

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 939,355 (939,355) - -

939,355 (939,355) - -

ANIMA Funds Plc 355 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(6,248,139) 939,355 - (5,308,784)

ANIMA Orizzonte Sostenibile 2023 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 1,089,831 (1,089,831) - -

1,089,831 (1,089,831) - -

(35,781,180) 1,089,831 - (34,691,349)

ANIMA Orizzonte Benessere 2023 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 12,028,924 (12,028,924) - -

12,028,924 (12,028,924) - -

ANIMA Funds Plc 356 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(54,013,522) 12,028,924 - (41,984,598)

ANIMA Orizzonte Consumi 2023 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 1,729,052 (1,729,052) - -

1,729,052 (1,729,052) - -

(4,468,605) 1,729,052 - (2,739,553)

ANIMA Orizzonte Energia 2023 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 10,373,801 (10,373,801) - -

10,373,801 (10,373,801) - -

ANIMA Funds Plc 357 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(13,179,705) 10,373,801 - (2,805,904)

ANIMA Zephyr Global Allocation Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 4,420 (2,373) - 2,047

4,420 (2,373) - 2,047

(2,373) 2,373 - -

ANIMA Zephyr New1 Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 9,070 - - 9,070

9,070 - - 9,070

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 358 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Zephyr Real Assets Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 93,498 (6,412) - 87,086

93,498 (6,412) - 87,086

(6,412) 6,412 - -

ANIMA International Bond Related amounts not set off in the As at 31 December 2020 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 43,369 (29,170) - 14,199 Counterparty C 1,342 (1,342) - - Counterparty K 9,710 - - 9,710 Counterparty Q 1,600 (1,600) - -

56,021 (32,112) - 23,909

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (29,170) 29,170 - - Counterparty C (4,151) 1,342 - (2,809) Counterparty H (15,264) - - (15,264) Counterparty Q (7,559) 1,600 - (5,959)

(56,144) 32,112 - (24,032)

ANIMA Funds Plc 359 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Short Term Corporate Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 340,432 (226,515) - 113,917

340,432 (226,515) - 113,917

(664,304) 226,515 330,000 (107,789)

ANIMA Europe Equity Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 67,826 - - - Counterparty E 1,887,964 (367,525) - 67,826 Counterparty H 334,811 (334,811) - 1,520,439 Counterparty Q 957,009 (609,205) - 347,804

3,247,610 (1,311,541) - 1,936,069

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E (367,525) 367,525 - - Counterparty H (759,806) 334,811 560,000 135,005 Counterparty Q (609,205) 609,205 - -

(1,736,536) 1,311,541 560,000 135,005

ANIMA Funds Plc 360 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA U.S. Equity Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 232,510 - - 232,510 Counterparty E 422,372 (86,279) - 336,093 Counterparty H 12,091 (12,091) - - Counterparty Q 68,451 (48,712) - 19,739

735,424 (147,082) - 588,342

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E (86,279) 86,279 - - Counterparty H (390,778) 12,091 260,000 (118,687) Counterparty Q (48,712) 48,712 - -

(525,769) 147,082 260,000 (118,687)

ANIMA Asia/Pacific Equity Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 21,056 - - 21,056 Counterparty C 6,689 (6,689) - -

27,745 (6,689) - 21,056

(96,779) 6,689 - (90,090)

ANIMA Funds Plc 361 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Global Equity Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 3,163 - - 3,163 Counterparty E 191,462 (191,462) - - Counterparty H 38,167 (38,140) - 27 Counterparty Q 78,142 (20,603) - 57,539

310,934 (250,205) - 60,729

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E (265,103) 191,462 - (73,641) Counterparty H (38,140) 38,140 - - Counterparty Q (20,603) 20,603 - -

(323,846) 250,205 - (73,641)

ANIMA Emerging Markets Equity Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 96,640 (2,993) - 93,647

96,640 (2,993) - 93,647

(3,759) 2,993 - (766)

ANIMA Funds Plc 362 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Euro Equity Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E 220 (220) - - Counterparty Q 13,207 (13,207) - -

13,427 (13,427) - -

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (21,906) - - (21,906) Counterparty E (2,398) 220 - (2,178) Counterparty Q (15,932) 13,207 - (2,725)

(40,236) 13,427 - (26,809)

ANIMA Global Currencies Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty H 15,360 (15,360) - - Counterparty Z 42,817 (14,519) - 28,298

58,177 (29,879) - 28,298

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty H (30,659) 15,360 - (15,299) Counterparty K (32,047) - - (32,047) Counterparty Z (14,519) 14,519 - -

(77,225) 29,879 - (47,346)

ANIMA Funds Plc 363 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Variable Rate Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 11,850 (1,400) - 10,450

11,850 (1,400) - 10,450

(1,400) 1,400 - -

ANIMA Hybrid Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 44,600 - - 44,600 Counterparty H 19,252 (19,252) - - Counterparty Z 21,124 - - 21,124

84,976 (19,252) - 65,724

(189,909) 19,252 - (170,657)

ANIMA Funds Plc 364 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Euro Government Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 41,800 (41,800) - - Counterparty Q 210,327 (103,352) - 106,975

252,127 (145,152) - 106,975

(189,764) 145,152 - (44,612)

ANIMA Star High Potential Europe Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 15,332 (15,332) - - Counterparty E 5,741 (5,741) - - Counterparty H 306 - - 306 Counterparty Q 159,414 (159,414) - -

180,793 (180,487) - 306

ANIMA Funds Plc 365 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C (74,372) 15,332 - (59,040) Counterparty E (221,249) 5,741 215,508 - Counterparty Q (2,915,116) 159,414 2,755,702 -

(3,210,737) 180,487 2,971,210 (59,040)

ANIMA Star Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 786,830 (25,547) - 761,284 Counterparty H 381,599 (284,366) - 97,233 Counterparty K 2,716,161 (2,220,202) - 495,959 Counterparty Q 2,748,719 (785,310) - 1,963,409 Counterparty Z 82,310 (82,310) - -

6,715,619 (3,397,735) - 3,317,885

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (56,135) - - (56,135) Counterparty C (25,547) 25,547 - - Counterparty H (284,366) 284,366 - - Counterparty K (2,220,202) 2,220,202 - - Counterparty Q (785,310) 785,310 - - Counterparty Z (125,022) 82,310 100,000 57,288

(3,496,582) 3,397,735 100,000 1,153

ANIMA Funds Plc 366 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Smart Volatility Europe Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 32,921 (23,040) - 9,881

32,921 (23,040) - 9,881

(23,040) 23,040 - -

ANIMA Smart Volatility Global Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 643,290 (30,180) - 613,110

643,290 (30,180) - 613,110

(30,180) 30,180 - -

ANIMA Funds Plc 367 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Smart Volatility Italy Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 50,320 (50,320) - -

50,320 (50,320) - -

(82,620) 50,320 - (32,300)

ANIMA Smart Volatility USA Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 368,664 - - 368,664

368,664 - - 368,664

ANIMA Funds Plc 368 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Smart Volatility Emerging Markets Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 122,100 - - 122,100

122,100 - - 122,100

ANIMA Credit Opportunities Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 195,967 (195,967) - - Counterparty H 11,224 - - 11,224 Counterparty Z 90,737 - - 90,737

297,928 (195,967) - 101,961

(474,445) 195,967 260,000 (18,478)

ANIMA Funds Plc 369 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Star High Potential Italy Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 16,555 (1,060) - 15,495

16,555 (1,060) - 15,495

(1,061) 1,060 - (1)

ANIMA Star High Potential Global Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 974 - - 974 Counterparty E 192,018 (135,175) - 56,843 Counterparty Q 6,524 - - 6,524 Counterparty Z 25,813 - - 25,813

225,329 (135,175) - 90,154

(156,832) 135,175 - (21,657)

ANIMA Funds Plc 370 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Flexible Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 265,809 - - 265,809 Counterparty E 56,389 (26,582) - 29,807 Counterparty H 413,866 (413,866) - - Counterparty K 537,173 (113,868) - 423,305 Counterparty Z 211,886 - - 211,886

1,485,123 (554,316) - 930,807

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty E (26,582) 26,582 - - Counterparty H (554,221) 413,866 140,355 - Counterparty K (113,868) 113,868 - -

(694,671) 554,316 140,355 -

ANIMA Flexible Income Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 177,335 (2,100) - 175,235 Counterparty K 285,329 (208,040) - 77,289 Counterparty Q 163,193 - - 163,193

625,857 (210,140) - 415,717

ANIMA Funds Plc 371 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (4,666) - - (4,666) Counterparty C (2,100) 2,100 - - Counterparty K (208,040) 208,040 - - Counterparty Z (8,692) - - (8,692)

(223,498) 210,140 - (13,358)

ANIMA Infrastructure Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 22,050 (22,050) - - Counterparty E 27,733 (27,733) - - Counterparty H 579 (579) - - Counterparty Q 201,351 (201,351) - -

251,713 (251,713) - -

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C (215,460) 22,050 - (193,410) Counterparty E (76,322) 27,733 - (48,589) Counterparty H (10,954) 579 - (10,375) Counterparty Q (322,011) 201,351 120,660 -

(624,747) 251,713 120,660 (252,374)

ANIMA Funds Plc 372 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Italian Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 36,873 (6,927) - 29,946

36,873 (6,927) - 29,946

(6,927) 6,927 - -

ANIMA High Yield Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 16,016 (16,016) - - Counterparty H 4,872 (1,034) - 3,838

20,888 (17,050) - 3,838

(36,217) 17,050 - (19,167)

ANIMA Funds Plc 373 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Bond 2022 Opportunities Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 59,316 (59,316) - -

59,316 (59,316) - -

(63,883) 59,316 - (4,567)

ANIMA Global Macro Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B 33,467 (5,402) - 28,065 Counterparty C 202,779 (202,779) - - Counterparty H 35,356 - - 35,356 Counterparty K 33,510 (28,666) - 4,844

305,112 (236,847) - 68,265

Related amounts not set off in the Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty B (5,402) 5,402 - - Counterparty C (443,362) 202,779 - (240,583) Counterparty K (28,666) 28,666 - -

(477,430) 236,847 - (240,583)

ANIMA Funds Plc 374 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA Brightview 2023-I Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A (3,944,512) - - (3,944,512) Counterparty B (490,968) - - (490,968)

(4,435,480) - - (4,435,480)

ANIMA Brightview 2023-II Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 3,794,430 (3,794,430) - - Counterparty B 3,112,367 - - 3,112,367

6,906,797 (3,794,430) - 3,112,367

(18,240,862) 3,794,430 - (14,446,432)

ANIMA Brightview 2023-III Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 3,609,196 (3,609,196) - -

3,609,196 (3,609,196) - -

ANIMA Funds Plc 375 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(7,783,039) 3,609,196 - (4,173,843)

ANIMA Brightview 2023-IV Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 1,262,449 (1,262,449) - - Counterparty B 723,702 - - 723,702

1,986,151 (1,262,449) - 723,702

(9,617,378) 1,262,449 - (8,354,929)

ANIMA Brightview 2024-I Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 3,618,203 (3,618,203) - -

3,618,203 (3,618,203) - -

ANIMA Funds Plc 376 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(12,896,972) 3,618,203 - 9,278,769

ANIMA Brightview 2024-II Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 3,547,833 (3,547,833) - - Counterparty B 1,341,035 - - 1,341,035

4,888,868 (3,547,833) - 1,341,035

(17,104,533) 3,547,833 - (13,556,700)

ANIMA Brightview 2024-III Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 7,532,265 (7,532,265) - - Counterparty B 350,019 - - 350,019 Counterparty Q 2,824,708 - - 2,824,708

10,706,992 (7,532,265) - 3,174,727

ANIMA Funds Plc 377 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(19,037,826) 7,532,265 - (11,505,561)

ANIMA Brightview 2024-IV Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 9,320,887 (9,320,887) - - Counterparty B 4,923,282 - - 4,923,282

14,244,169 (9,320,887) - 4,923,282

(18,490,057) 9,320,887 - (9,169,170)

ANIMA Brightview 2024-V Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 19,835,358 (19,835,358) - - Counterparty Q 4,373,545 - - 4,373,545

24,208,903 (19,835,358) - 4,373,545

ANIMA Funds Plc 378 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(27,376,038) 19,835,358 - (7,540,680)

ANIMA Brightview 2025-I Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 23,195,726 (23,195,726) - - Counterparty Q 3,810,015 - - 3,810,015

27,005,741 (23,195,726) - 3,810,015

(50,823,129) 23,195,726 - (27,627,403)

ANIMA Brightview 2027-I Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 12,558,021 (12,558,021) - - Counterparty B 11,570,108 - - 11,570,108

24,128,129 (12,558,021) - 11,570,108

ANIMA Funds Plc 379 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(30,841,342) 12,558,021 - (18,283,321)

ANIMA Brightview-II Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,270 (1,602) - 668

2,270 (1,602) - 668

(1,602) 1,602 - -

ANIMA Brightview-III Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,586 (1,627) - 959

2,586 (1,627) - 959

ANIMA Funds Plc 380 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(1,627) 1,627 - -

ANIMA Brightview-IV Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 500 (473) - 27

500 (473) - 27

(473) 473 - -

ANIMA Orizzonte Europa 2022 Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 1,860,772 (1,860,772) - -

1,860,772 (1,860,772) - -

ANIMA Funds Plc 381 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(5,883,964) 1,860,772 - (4,023,192)

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,727,307 (2,727,307) - -

2,727,307 (2,727,307) - -

(7,558,338) 2,727,307 - (4,831,031)

ANIMA Orizzonte Sostenibile 2023 Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 4,982,459 (4,982,459) - -

4,982,459 (4,982,459) - -

ANIMA Funds Plc 382 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(45,954,898) 4,982,459 - (40,972,439)

ANIMA Orizzonte Benessere 2023 Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 20,373,094 (20,373,094) - -

20,373,094 (20,373,094) - -

(67,057,588) 20,373,094 - (46,684,494)

ANIMA Orizzonte Consumi 2023 Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 2,727,646 (2,727,646) - -

2,727,646 (2,727,646) - -

ANIMA Funds Plc 383 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(6,397,061) 2,727,646 - (3,669,415)

ANIMA Orizzonte Energia 2023 Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty A 12,994,632 (12,994,632) - -

12,994,632 (12,994,632) - -

(24,160,075) 12,994,632 - (11,165,443)

ANIMA Zephyr Global Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty H 25,177 (33) - 25,144

25,177 (33) - 25,144

ANIMA Funds Plc 384 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

(33) 33 - -

ANIMA Zephyr Global Allocation Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Liabilities presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C (65,976) - - (65,976)

(65,976) - - (65,976)

ANIMA Zephyr Real Assets Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 20,517 (11,205) - 9,312 Counterparty H 1 (1) - -

20,518 (11,206) - 9,312

(11,221) 11,206 - (15)

ANIMA Funds Plc 385 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

3. Financial Risk Management (continued)

Offsetting Financial Assets and Financial Liabilities (continued)

ANIMA International Bond Related amounts not set off in the As at 31 December 2019 Statement of Financial Position Gross amounts Financial Assets presented in the Statement of Financial Cash Collateral Financial Position Instruments Pledged Net amount EUR EUR EUR EUR Counterparty C 25,336 (164) - 25,172 Counterparty H 23,313 (1,627) - 21,686 Counterparty K 20,317 (5,619) - 14,698

68,966 (7,410) - 61,556

(7,410) 7,410 - -

ANIMA Funds Plc 386 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income

ANIMA ANIMA Medium Term ANIMA Bond ANIMAANIMA Short Global Term Total Company ANIMA Liquidity Short Term Bond Bond Dollar Bond ANIMA Life Bond 1 Corporate Bond Year ended Year ended Year ended Year ended YearYear ended ended YearYear ended ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December31 December 2020 2020 31 December31 December 2020 2020 EUR EUR EUR EUR EUREUR EUREUR Deposit interest 66,163 - - - 777 78 30,050 438 Bond income 62,399,530 (1,603,639) (494,237) 2,287,469 2,253,735 1,365,515 1,133,486 6,552,007 Dividend income 28,415,827 ------Securities lending income (Note 13) 106,763 ------Sundry income (23,589) ------(352) 90,964,694 (1,603,639) (494,237) 2,287,469 2,254,512 1,365,593 1,163,536 6,552,093

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA ANIMA ANIMA ANIMA Asia/Pacific Global Equity Europe Equity U.S. Equity Equity ANIMAValue Emerging ANIMAANIMA Euro ANIMA Year ended Year ended Year ended2 Markets Equity 3Global Selection Equity Global Currencies 31 December 2020 31 December 2020 31 DecemberYear 2020 ended Year endedYear ended Year ended Year ended EUR EUR 31 DecemberEUR 2020 31 December31 December 2020 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR Deposit interest 827 983 95 15 4,056 - 22 98 Bond income - - (998) - 9,953 - - 24,011 Dividend income 7,111,246 3,853,172 1,251,542 889,563 690,626 1,770 2,118,282 - Securities lending income (Note 13) 31,952 - - - - - 6,733 - Sundry income - (159) - 9 (566) - - - 7,144,025 3,853,996 1,250,639 889,587 704,069 1,770 2,125,037 24,109

2 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

3 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 387 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

ANIMA Variable Rate ANIMA ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart Bond Hybrid Bond Government Bond Potential Europe ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Deposit interest - 179 119 2,512 198 - 335 - Bond income 199,517 3,229,325 1,798,436 (1,702,362) 2,754,585 13,508 (124,382) 11,604 Dividend income - - 3,396 9,999,397 270,006 - - - Securitieslendingincome(Note13) ---66,538---- Sundry income - (191) - (857) (1,743) - - - 199,517 3,229,313 1,801,951 8,365,228 3,023,046 13,508 (124,047) 11,604

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020. NM ud Plc Funds ANIMA 388 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA Brightview Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III 2023-IV Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Deposit interest - 2 58 1,097 - 41 - 879 Bond income - 574,549 1,351,366 502,359 - 1,234,223 580,462 885,642 Dividend income 312,866 - - 42,202 511,496 - - - Securitieslendingincome(Note13) ------Sundry income (186) - - (11,092) (38) - - - 312,680 574,551 1,351,424 534,566 511,458 1,234,264 580,462 886,521 NM ud Plc Funds ANIMA 389 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

ANIMA ANIMA ANIMA ANIMA Brightview ANIMA ANIMA ANIMA ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III 2024-IV Brightview 2024-V Brightview 2025-I Brightview 2027-I Brightview-II Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Deposit interest - - - - 6,633 3,673 - - Bond income 1,140,737 1,363,151 1,565,101 1,589,390 1,842,674 4,237,186 2,247,296 877,881 Dividend income ------Securitieslendingincome(Note13) ------Sundry income - - - (277) (2,647) (1,748) (725) (19) 1,140,737 1,363,151 1,565,101 1,589,113 1,846,660 4,239,111 2,246,571 877,862

ANIMA Orizzonte ANIMA ANIMA ANIMA Brightview Europa 2023 Brightview-III Brightview IV V ANIMA ANIMA ANIMAANIMA Orizzonte - Rendimento Year ended Year ended 1 Brightview-VI1 Brightview1 VII Brightview1 VIII Europa 2022 Bilanciato 31 December 2020 31 December 2020Year ended Year ended Year ended Year ended Year ended Year ended EUR 31 DecemberEUR 202031 December 202031 December 202031 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR Deposit interest - 2,665 91 - (1,395) - - - Bond income 842,499 697,563 183,915 378,324 (75,675) - 673,783 697,541 Dividend income ------Securitieslendingincome(Note13) ------Sundry income (19) (925) ------842,480 699,303 184,006 378,324 (77,070) - 673,783 697,541

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 390 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA ANIMA Zephyr ANIMA Zephyr Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 ANIMA Defensive Zephyr Global Global Allocation New Year ended Year ended Year ended Year ended Year ended Year1 ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 DecemberYear ended 2020 31 December 2020 EUR EUR EUR EUR EUR31 December 2020EUR EUR EUR Deposit interest - - - - - 594 170 (1) Bond income 3,586,135 5,723,803 402,994 1,612,368 - 113,529 123,269 51,776 Dividend income ------21,240 - Securitieslendingincome(Note13) ------Sundry income - - - - - (194) (54) - 3,586,135 5,723,803 402,994 1,612,368 - 113,929 144,625 51,775

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Zephyr ANIMA Real Assets International Bond Year ended Year ended 31 December 2020 31 December 2020 EUR EUR Deposit interest 33 2 Bond income 90,057 187,992 Dividend income 40,209 - Securities lending income (Note 13) - - Sundry income - - 130,299 187,994 NM ud Plc Funds ANIMA 391 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

ANIMA ANIMA Medium Term ANIMA Bond ANIMA Global ANIMA Short Term Total Company ANIMA Liquidity Short Term Bond Bond Dollar Bond ANIMA Life Bond Corporate Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Deposit interest 213,431 - - 174 5,933 2,308 - 25,971 Bond income 40,379,036 (1,322,035) (3,133,336) (1,064,588) 2,548,438 856,622 (2,367,853) (579,305) Dividend income 41,495,996 ------Securities lending income (Note 13) 104,138 ------Sundry income 117,910 65 ------82,310,511 (1,321,970) (3,133,336) (1,064,414) 2,554,371 858,930 (2,367,853) (553,334)

ANIMA ANIMA ANIMA ANIMA Asia/Pacific ANIMA ANIMA Emerging ANIMA Euro ANIMA Variable Rate Europe Equity U.S. Equity Equity Global Equity Markets Equity Equity Global Currencies Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Deposit interest 21,039 21,966 977 97 6,146 235 779 - Bond income (51,819) - 1,243 - 39,071 - (98,587) 298,558 Dividend income 13,120,571 3,544,314 1,674,508 1,515,593 961,824 4,107,098 - - Securities lending income (Note 13) 65,825 - - - - 4,388 - - Sundry income 3,079 58,245 1 3,963 10 1,158 - - 13,158,695 3,624,525 1,676,729 1,519,653 1,007,051 4,112,879 (97,808) 298,558 NM ud Plc Funds ANIMA 392 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

ANIMA Smart Volatility Emerging Markets ANIMA ANIMA Credit TesoreriaANIMA Star High ANIMA Star High ANIMA ANIMA Smart ANIMA 1 Opportunities 2 ImpresePotential Italy Potential Global Active Selection Dividends Europe Flexible Bond Year ended Year endedYear ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Deposit interest - 2,683 23 57 8,564 4,261 - 1,091 Bond income (971) 3,369,539 183,919 (829,876) 34,838 - (2,226) 460,621 Dividend income - - - 442,285 406,128 - 351,120 8,073 Securities lending income (Note 13) ------595 - Sundry income - 1,322 2 56 364 389 71 - (971) 3,373,544 183,944 (387,478) 449,894 4,650 349,560 469,785

1This Fund launched during the financial year ended 31 December 2019.

2This Fund was terminated during financial year ended 31 December 2019. NM ud Plc Funds ANIMA 393 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

ANIMA ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA Brightview Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III 2023-IV Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Depositinterest 1355766636,089---- Bond income - 518,201 53,948 474,905 - 2,846,567 1,273,085 1,288,335 Dividend income 697,938 - - 82,926 804,690 - - - Securitieslendingincome(Note13)566------Sundry income 36 - 13,383 10,964 (848) - - - 698,675 518,777 67,994 574,884 803,842 2,846,567 1,273,085 1,288,335

ANIMA ANIMA ANIMA ANIMA Brightview ANIMA ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III 2024-IV Brightview 2024-V BrightviewANIMA 2025-IANIMA Year ended Year ended Year ended Year ended 1 Year endedBrightview1 2027-I Brightview-II1 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Year31 ended DecemberYear 2019 ended Year ended EUR EUR EUR 31EUR December 201931 DecemberEUR 201931 December 2019 EUR EUR EUR Depositinterest --3,760----- Bond income 1,528,074 1,815,527 2,714,500 3,062,767 1,982,877 931,111 1,617,333 (23,133) Dividend income ------

Securitieslendingincome(Note13) Plc Funds ANIMA ------Sundryincome ------394 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

ANIMA ANIMA ANIMA ANIMA Brightview ANIMA ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III 2024-IV Brightview 2024-V BrightviewANIMA 2025-IANIMA Year ended Year ended Year ended Year ended 1 Year endedBrightview1 2027-I Brightview-II1 31 December 2019 31 December 2019 31 December 2019 31 December 2019 Year31 ended DecemberYear 2019 ended Year ended EUR EUR EUR 31EUR December 201931 DecemberEUR 201931 December 2019 EUR EUR EUR 1,528,074 1,815,527 2,718,260 3,062,767 1,982,877 931,111 1,617,333 (23,133)

1This Fund launched during the financial year ended 31 December 2019.

ANIMA ANIMAANIMA Zephyr Zephyr ANIMA ANIMA Defensive Zephyr Global Global Allocation 1 Real Assets International Bond Year ended Year endedYear ended Year ended Year ended 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR Deposit interest - 4,333 218 1,595 1,780 Bond income 9,249 (85,531) (19,761) 1,946 240,119 Dividend income - - 9,529 87,222 - Securities lending income (Note 13) - - - - - Sundry income - 415 - 815 - NM ud Plc Funds ANIMA 395 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

4. Operating Income (continued)

1This Fund launched during the financial year ended 31 December 2019. NM ud Plc Funds ANIMA 396 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss

ANIMA ANIMA ANIMA Short Term Total Company ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar ANIMA Global Bond ANIMA Life Bond 1 Corporate Bond Year ended Year ended Year ended Year ended YearYear ended ended YearYear ended ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December31 December 2020 2020 3131 December December 2020 2020 EUR EUR EUR EUR EUREUR EUREUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 259,671,244 98,543 845,010 10,545,974 9,759,878 4,179,690 5,458,823 (987,462) Realised gains/(losses) on forward currency contracts 14,008,518 - - - 125,949 (118,861) - 779,418 Realised (losses)/gains on sale of futures contracts (92,276,307) - - - 14,635 2,203 - - Realised gains on options ------Realised gains on swaps 31,795,183 ------Net currency (losses)/gains (14,856,000) - - (18) (1,360,262) (1,687,984) - 57,388 Net change in unrealised appreciation/depreciation on investments 25,717,346 398,519 567,637 3,130,801 (12,622,430) (3,548,648) (2,815,534) (1,412,199) Net change in unrealised appreciation on forward currency contracts 2,570,665 ------582,821 Net change in unrealised appreciation on futures contracts 2,002,290 ------Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised losses on sale of investment funds (5,685,995) ------Net change in unrealised depreciation on investment funds (3,943,445) ------219,003,499 497,062 1,412,647 13,676,757 (4,082,230) (1,173,600) 2,643,289 (980,034)

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year. NM ud Plc Funds ANIMA 397 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA ANIMA Europe Equity ANIMA U.S. Equity Asia/Pacific Equity GlobalANIMA Equity Emerging Value ANIMA ANIMA Year ended Year ended Year ended 1 Markets Equity 2Global SelectionANIMA Euro Equity Global Currencies 31 December 2020 31 December 2020 31 DecemberYear 2020 ended Year endedYear ended Year ended Year ended EUR EUR 31 DecemberEUR 2020 31 December31 December 2020 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised (losses)/gains on sale of investments (2,182,922) 28,107,591 308,533 (1,645,716) 327,476 2,379 (4,121,731) (155) Realised gains/(losses) on forward currency contracts 403,274 (196,672) (37,295) 12,914 (94,325) 5,101 8,371 26,889 Realised (losses)/gains on sale of futures contracts (91,968) (3,160,223) (196,451) - 397,440 - (78,138) - Realised gains on options ------Realised gains on swaps ------Net currency (losses)/gains (484,359) 1,219,293 81,348 (665,853) (672,372) 1,957 13,870 (38,668) Net change in unrealised appreciation/depreciation on investments 1,614,459 15,669,571 349,914 (1,356,777) 3,956,802 192,016 4,886,306 (194,098) Net change in unrealised (depreciation)/appreciation on forward currency contracts (721,041) 122,275 (21,056) (99,619) 35,268 6,336 (1,162) 45,616 Net change in unrealised (depreciation)/appreciation\ on futures contracts (67,826) (232,510) 164,723 - 277,839 - - - Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains/(losses) on sale of investment funds 749,520 - 70,531 - (410,891) - - - Net change in unrealised (depreciation)/appreciation on investment funds (713,340) - 346,235 - 3,008 - - - (1,494,203) 41,529,325 1,066,482 (3,755,051) 3,820,245 207,789 707,516 (160,416)

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 398 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart Variable Rate Bond Hybrid Bond Government Bond Potential Europe ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 133,443 (430,886) 4,423,324 61,297,604 9,093,225 391,087 4,034,644 297,095 Realised gains/(losses) on forward currency contracts - 487,038 170,659 4,089,904 2,635,075 (395) (4,555) - Realised gains/(losses) on sale of futures contracts 69,861 - (286,361) 17,102,842 (4,087,794) (1,010,627) (1,025,487) (728,942) Realised gains on options ------Realisedgainsonswaps ------Net currency losses - (267,866) (92,425) (5,186,259) (916,022) (15,657) (131,128) - Net change in unrealised appreciation/depreciation on investments 69,843 (288,809) 409,724 39,380,185 (9,936,992) (24,628) 55,694 43,446 Net change in unrealised appreciation/depreciation on forward currency contracts - 295,331 (106,975) 2,503,528 (1,694,920) - - - Net change in unrealised (depreciation)/appreciation\ on futures contracts (9,700) - (18,680) (2,785,498) (767,787) 42,887 1,002,304 167,120 Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains/(losses) on sale of investment funds - - 4,692 - (2,038,180) - - - Net change in unrealised appreciation/(depreciation) on investment funds - - (35,749) - 10,126 - - - 263,447 (205,192) 4,468,209 116,402,306 (7,703,269) (617,333) 3,931,472 (221,281) NM ud Plc Funds ANIMA 399 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA Smart Smart Volatility ANIMA Credit ANIMA Star High ANIMA Trading Volatility USA Emerging Markets Opportunities Potential Italy ANIMAFund ANIMA Smart ANIMA Year ended Year ended Year ended Year1 ended Active Selection Dividends Europe Flexible Bond 31 December 2020 31 December 2020 31 December 2020 31Year December ended 2020 Year ended Year ended Year ended EUR EUR EUR31 December 2020 EUR31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 2,438,179 1,575 (2,223,436) (1,305,054) 3,853,708 - (274,649) 1,631,744 Realised (losses)/gains on forward currency contracts (35,565) - 622,501 - 1,085,245 (69,062) (13,960) 69,049 Realised gains/(losses) on sale of futures contracts 175,238 3,343,247 - 287,605 1,028,647 - 52,571 (779,634) Realised gains on options ------Realised gains on swaps ------Net currency gains/(losses) 3,857 - (391,785) 1,511 (679,639) 81,486 (32,185) (284,795) Net change in unrealised appreciation/depreciation on investments 52,413 50,371 3,316,787 (77,316) (100,473) (128,319) (540,065) (637,003) Net change in unrealised appreciation/depreciation on forward currency contracts - - 575,735 - 943,992 - - (850,116) Net change in unrealised appreciation/(depreciation) on futures contracts 551,513 922,620 - 24,724 - - - (260,329) Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains/(losses) on sale of investment funds - - - (20,465) 306,295 (182,650) - (248,897) Net change in unrealised appreciation/(depreciation) on investment funds - - - (103,922) (32,580) (733,200) - 10,051 3,185,635 4,317,813 1,899,802 (1,192,917) 6,405,195 (1,031,745) (808,288) (1,349,930)

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020. NM ud Plc Funds ANIMA 400 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA Flexible Income ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA 1 Infrastructure1 Solution 2022-I Solution 2022-II Solution 2022-III Solution 2023-I Solution EM Italian Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 202031 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 1,865,220 3,079,335 (40,845) 33,063 28,683 2,660 7,201 779,627 Realised gains/(losses) on forward currency contracts 602,270 (666,188) - - (18,044) - (135,497) 42 Realised (losses)/gains on sale of futures contracts (1,045,163) 1,515,385 - - - - - (243,369) Realised gains on options ------Realised gains on swaps ------Net currency gains/(losses) 129,601 326,998 - - (255) - 387,164 (1,429) Net change in unrealised depreciation/appreciation on investments (1,447,429) (4,138,145) (182,247) (78,285) (83,593) - (94,876) 797,106 Net change in unrealised (depreciation)/appreciation on forward currency contracts (227,123) 175,614 ------Net change in unrealised (depreciation)/appreciation\ on futures contracts (175,235) 196,240 - - - - - (38,614) Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised (losses)/gains on sale of investment funds (35,317) 63,511 (589,939) 818,512 (652,003) (1,893,638) (1,568,404) - Net change in unrealised depreciation on investment funds (11,373) (378,642) (516,480) (1,459,643) (885,463) (723,933) (430,037) - (344,549) 174,108 (1,329,511) (686,353) (1,610,675) (2,614,911) (1,834,449) 1,293,363

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year. NM ud Plc Funds ANIMA 401 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA ANIMA Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised (losses)/gains on sale of investments (920,615) (146,375) (179,864) 3,261,949 316,058 22,223,824 9,056,931 8,550,617 Realised gains on forward currency contracts 8,678 3,517 69,824 4,444,908 - - - - Realised gains/(losses) on sale of futures contracts - - - 7,909,608 (417,972) (22,202,376) (10,447,952) (9,116,887) Realised gains on options ------Realised losses on swaps - - - - (516,129) (1,761,732) (446,662) (752,434) Net currency (losses)/gains (3,842) 4,833 (16,575) (4,170,365) - - - - Net change in unrealised depreciation/appreciation on investments (1,009,845) 55,667 (582,749) (539,426) (180,597) 3,025,060 1,660,340 1,600,377 Net change in unrealised appreciation on forward currency contracts - 29,454 52,672 952,490 - - - - Net change in unrealised appreciation on futures contracts - - - 1,539,235 - - - - Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains/(losses) on sale of investment funds 3,227 (48,197) - (666,317) - - - - Net change in unrealised appreciation/(depreciation) on investment funds 5,803 (17,309) - 416,409 - - - - (1,916,594) (118,410) (656,692) 13,148,491 (798,640) 1,284,776 (177,343) 281,673 NM ud Plc Funds ANIMA 402 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III Brightview 2024-IV Brightview 2024-V Brightview 2025-I Brightview 2027-I Brightview-II Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 9,562,908 12,211,739 16,069,468 17,005,444 1,505,102 2,036,910 9,298,275 (26,031) Realised gains on forward currency contracts ------Realised (losses)/gains on sale of futures contracts (9,617,515) (14,934,322) (16,043,851) (16,928,090) 1,169,426 (2,273,642) (5,692,676) (434,908) Realised gains on options ------Realised (losses)/gains on swaps (1,229,180) (634,407) 1,097,496 2,081,063 253,685 2,555,094 (875,972) 11,000,806 Net currency gains ------Net change in unrealised appreciation/depreciation on investments 1,850,803 3,653,939 2,962,420 (1,786,013) 177,195 1,626,615 2,380,565 (9,937,393) Net change in unrealised appreciation on forward currency contracts ------Net change in unrealised appreciation on futures contracts ------Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains on sale of investment funds ------Net change in unrealised appreciation on investment funds ------567,016 296,949 4,085,533 372,404 3,105,408 3,944,977 5,110,192 602,474 NM ud Plc Funds ANIMA 403 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA Orizzonte ANIMA ANIMA Europa 2023 Brightview-III Brightview IV ANIMA Brightview V ANIMA ANIMAANIMA Orizzonte - Rendimento Year ended Year ended 1 ANIMA Brightview-VI1 Brightview1 VII Brightview1 VIII Europa 2022 Bilanciato 31 December 2020 31 December 2020 Year ended Year ended Year ended Year ended Year ended Year ended EUR 31EUR December 202031 December 202031 December 202031 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 2,425 (25,796) 39,050 365,275 10,403 - (8,866) (156,021) Realised gains on forward currency contracts ------Realised (losses)/gains on sale of futures contracts (409,608) (265,592) (72,170) (361,932) - - (62,933) 134,654 Realised gains on options ------Realised gains/(losses) on swaps 9,924,404 8,634,728 3,417,174 8,597,261 - - (379,628) (132,517) Net currency gains ------Net change in unrealised depreciation/appreciation on investments (8,621,699) (6,177,954) (2,256,658) 1,226,692 3,437,041 (138) (752,429) (960,982) Net change in unrealised appreciation on forward currency contracts ------Net change in unrealised appreciation on futures contracts ------Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains on sale of investment funds ------3,329 7,147 Net change in unrealised appreciation on investment funds ------9,498 5,964 895,522 2,165,386 1,127,396 9,827,296 3,447,444 (138) (1,191,029) (1,101,755)

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 404 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA ANIMA Zephyr Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 ANIMA Defensive Zephyr Global Global Allocation ANIMA Zephyr New Year ended Year ended Year ended Year ended Year ended Year1 ended Year ended 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 DecemberYear ended 2020 31 December 2020 EUR EUR EUR EUR EUR 31 December 2020EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 431,309 5,636,894 (5,502) (881,477) - 3,858,789 230,378 79,958 Realised gains/(losses) on forward currency contracts - - - - - 16,100 (31,438) (9,561) Realised (losses)/gains on sale of futures contracts (850,478) (8,312,841) 498,782 9,761,623 - (4,313,785) (123,704) 619,712 Realised gains on options ------Realised losses on swaps (4,467,301) (3,249,064) (469,906) (851,596) - - - - Net currency losses - - - - - (141,861) (99,266) (33,545) Net change in unrealised appreciation/depreciation on investments 1,532,395 2,425,150 (298,959) (4,470,639) - 301,088 463,528 213,347 Net change in unrealised appreciation on forward currency contracts ------Net change in unrealised appreciation on futures contracts - - - - - 471,964 530,233 224,389 Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains/(losses) on sale of investment funds - - - - 756,824 - (111,194) 15,833 Net change in unrealised appreciation/(depreciation) on investment funds - - - - 1,089,757 - (83,471) 40,219 (3,354,075) (3,499,861) (275,585) 3,557,911 1,846,581 192,295 775,066 1,150,352

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 405 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA Zephyr ANIMA Real Assets International Bond Year ended Year ended 31 December 2020 31 December 2020 EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains on sale of investments 244,330 211,297 Realised losses on forward currency contracts (28,275) (198,515) Realised losses on sale of futures contracts (606,735) (135,660) Realised gains on options - - Realised gains on swaps - - Net currency gains 15,555 193,554 Net change in unrealised depreciation on investments (22,965) (510,158) Net change in unrealised depreciation on forward currency contracts - (28,455) Net change in unrealised appreciation/(depreciation) on futures contracts 270,660 (27,982) Net change in unrealised appreciation on options - - Net change in unrealised appreciation on interest rate swaps -- Net change in unrealised appreciation on swaps - - Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised losses on sale of investment funds (75,840) - Net change in unrealised appreciation on investment funds 21,233 - (182,037) (495,919) NM ud Plc Funds ANIMA 406 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA ANIMA Short Term Total Company ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar ANIMA Global Bond ANIMA Life Bond Corporate Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended 31 December 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 147,630,431 211,177 (782) 11,680,704 1,301,752 1,299,120 412,621 (1,795,534) Realised (losses)/gains on forward currency contracts (19,234,500) - - - 31,644 20,247 - (487,616) Realised (losses)/gains on sale of futures contracts (135,807,559) - (2) 3 25,186 1,074 - - Realised gains on options (2,873,201) ------Realised gains on swaps 25,116,427 ------Net currency gains/(losses) 21,385,665 - - - 2,372,188 932,027 - (244,826) Net change in unrealised appreciation on investments 430,563,300 357,439 3,624,644 18,793,078 2,128,654 2,306,535 8,054,345 12,388,420 Net change in unrealised appreciation/depreciation on forward currency contracts 1,822,885 ------(625,567) Net change in unrealised appreciation on futures contracts 2,841,012 ------Net change in unrealised appreciation on options (176,733) ------Net change in unrealised appreciation on interest rate swaps (6,017,464) ------Net change in unrealised appreciation on swaps 66,843,294 ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains on sale of investment funds 2,201,952 ------Net change in unrealised appreciation on investment funds 21,067,139 ------555,362,648 568,616 3,623,860 30,473,785 5,859,424 4,559,003 8,466,966 9,234,877 NM ud Plc Funds ANIMA 407 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA ANIMA ANIMA Emerging ANIMA ANIMA Europe Equity ANIMA U.S. Equity Asia/Pacific Equity Global Equity Markets Equity ANIMA Euro Equity Global Currencies Variable Rate Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 24,665,806 16,215,139 955,278 (899,236) 64,914 1,920,954 (292) (393,912) Realised (losses)/gains on forward currency contracts (1,030,793) 326,619 119,755 169,513 89,306 (135,073) (29,647) - Realised gains/(losses) on sale of futures contracts 1,592,676 2,417,630 1,016,705 - 1,034,032 (533,150) - (486,336) Realised gains on options ------Realised gains on swaps ------Net currency gains/(losses) 3,854,818 2,494,721 890,614 1,161,908 394,994 82,695 (111,165) - Net change in unrealised appreciation on investments 46,945,627 34,710,112 7,251,498 7,728,131 5,397,365 21,266,497 441,860 1,715,976 Net change in unrealised appreciation/depreciation on forward currency contracts 1,252,394 2,532 30,918 112,127 16,456 (25,677) (25,420) - Net change in unrealised appreciation on futures contracts 426,626 1,070,934 250,174 - 133,630 - - 203,368 Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains on sale of investment funds - - - - 135,054 - - - Net change in unrealised appreciation on investment funds 364,320 - 105,000 - 114,240 - - - 78,071,474 57,237,687 10,619,942 8,272,443 7,379,991 22,576,246 275,336 1,039,096 NM ud Plc Funds ANIMA 408 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Hybrid Bond Government Bond Potential Europe ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 1,448,628 13,828,390 28,273,572 2,264,121 4,484 10,024 14,524 (8,978) Realised (losses)/gains on forward currency contracts (129,842) 53,113 (1,561,699) (10,175,025) 7,762 42,063 - (750) Realised gains/(losses) on sale of futures contracts - (12,079,950) (29,908,089) (10,741,194) 2,120,417 5,274,845 2,569,605 1,811,991 Realised gains/(losses) on options - (101,274) (735,025) (1,142,202) (186,529) (301,396) 214,850 (97,687) Realisedgainsonswaps ------Net currency gains/(losses) 18,728 13,032 1,752,339 4,678,911 6,460 (14,882) - 3,777 Net change in unrealised appreciation/depreciation on investments 2,901,866 5,827,042 43,627,867 9,890,560 85,048 195,096 (38,150) 55,154 Net change in unrealised (depreciation)/appreciation on forward currency contracts (126,784) 67,318 (2,636,140) 3,057,530 ---- Net change in unrealised appreciation/(depreciation) on futures contracts - 3,171,688 (5,762,130) 1,671,296 226,144 1,200,590 181,450 499,599 Net change in unrealised appreciation/(depreciation) on options - - - (8,982) - - 44,200 - Net change in unrealised depreciation on interest rate swaps - - (5,088,927) - ---- Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains/(losses) on sale of investment funds - 21,450 - (743,069) ---- Net change in unrealised appreciation on investment funds - 39,312 - 406,795 ---- 4,112,596 10,840,121 27,961,768 (841,259) 2,263,786 6,406,340 2,986,479 2,263,106 NM ud Plc Funds ANIMA 409 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA Smart Volatility Emerging Markets ANIMA Credit ANIMAANIMA Star High ANIMA Star High ANIMA ANIMA Smart ANIMA 1 Opportunities Tesoreria2 ImpresePotential Italy Potential Global Active Selection Dividends Europe Flexible Bond Year ended Year endedYear ended Year ended Year ended Year ended Year ended Year ended December 31, 2019 DecemberDecember 31, 2019 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 314 (1,410,233) (693,190) (433,730) 558,036 (-) 477,693 906,833 Realised gains/(losses) on forward currency contracts - (471,428) (1,668) - (1,295,436) 50,661 15,063 (893,757) Realised gains/(losses) on sale of futures contracts 472,489 (11,810) (312,694) (744,430) (812,952) - 24,706 (2,047,122) Realised gains/(losses) on options - - 2,430 30,814 35,541 - (117,779) (20,118) Realised gains on swaps ------Net currency gains/(losses) - (174,102) 1,732 3,839 1,214,569 47,376 (294,848) 110,437 Net change in unrealised appreciation/depreciation on investments 19,812 10,330,277 775,118 4,565,805 2,871,675 (192,415) 1,629,278 1,260,684 Net change in unrealised appreciation/depreciation on forward currency contracts - (255,188) - - 280,918 - - 745,847 Net change in unrealised appreciation/(depreciation) on futures contracts 122,100 - 143,480 (457,169) 18,345 - - 265,809 Net change in unrealised depreciation on options - - 1,750 - - - - (217,794) Net change in unrealised depreciation on interest rate swaps - - - (195,401) (46,062) - - - Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains/(losses) on sale of investment funds - - (16,183) - - (134,618) - 122,606 Net change in unrealised appreciation/(depreciation) on investment funds - - 14,642 66,717 32,580 3,398,207 - (6,974) 614,715 8,007,516 (84,583) 2,836,445 2,857,214 3,169,211 1,734,113 226,451

1This Fund launched during the financial year ended 31 December 2019.

2This Fund was terminated during financial year ended 31 December 2019. NM ud Plc Funds ANIMA 410 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Flexible Income Infrastructure Solution 2022-I Solution 2022-II Solution 2022-III Solution 2023-I Solution EM Italian Bond Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised (losses)/gains on sale of investments (284,173) 6,624,445 (118,800) 151,905 110,721 - - 341,524 Realised (losses)/gains on forward currency contracts (1,162,945) (1,120,676) - - (1) - 48,156 - Realised losses on sale of futures contracts (1,091,648) (9,729,991) - - - - - (1,996,158) Realised(losses)/gainsonoptions(115,403)2,650------Realisedgainsonswaps ------Net currency gains/(losses) 39,250 810,785 - - 245 - (3,339) - Net change in unrealised appreciation on investments 2,524,960 5,916,153 538,716 542,245 392,762 - 11 3,130,870 Net change in unrealised appreciation/depreciation on forwardcurrencycontracts 275,721(167,760)------Net change in unrealised appreciation/(depreciation) on futures contracts 336,780 (1,079,499) - - - - - 513,995 Net change in unrealised depreciation on options (1,148) ------Net change in unrealised depreciation on interest rate swaps -(712,202)------Net change in unrealised appreciation on swaps ------Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised (losses)/gains on sale of investment funds (26,123) 224,427 322,980 930,212 122,248 481,078 4,173 - Net change in unrealised appreciation on investment funds 232,731 395,091 1,225,241 1,441,736 1,636,868 3,349,209 3,276,874 - 728,002 1,163,423 1,968,137 3,066,098 2,262,843 3,830,287 3,325,875 1,990,231 NM ud Plc Funds ANIMA 411 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA ANIMA Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 1,696,037 (413,873) (554,011) 2,046,406 939,280 3,521,438 1,666,984 2,376,386 Realised gains/(losses) on forward currency contracts 422 (34,645) (181,730) (1,399,462) ---- Realised (losses)/gains on sale of futures contracts (1) - - 6,779,043 (430,273) (21,955,670) (8,992,737) (8,438,466) Realised losses on options - - - (334,235) ---- Realised losses on swaps - - - - (381,057) (1,796,280) (836,701) (695,078) Net currency gains/(losses) 944 8,405 (32,799) 1,235,016 ---- Net change in unrealised appreciation on investments 3,717,378 1,256,724 3,019,127 650,955 5,371,544 12,578,650 4,581,960 4,793,793 Net change in unrealised depreciation on forward currency contracts - (22,172) (26,955) (152,231) ---- Net change in unrealised depreciation on futures contracts - - - (183,712) ---- Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation/(depreciation) on swaps - - - - (5,355,119) 18,640,337 8,737,424 6,532,851 Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised losses on sale of investment funds - (690) - (132,973) ---- Net change in unrealised appreciation on investment funds (606) 106,976 - 817,009 ---- 5,414,174 900,725 2,223,632 9,325,816 144,375 10,988,475 5,156,930 4,569,486 NM ud Plc Funds ANIMA 412 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III Brightview 2024-IV Brightview 2024-V BrightviewANIMA 2025-IANIMA Year ended Year ended Year ended Year ended 1 Year endedBrightview1 2027-I Brightview-II1 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 YearDecember ended 31,Year 2019 ended Year ended EUR EUR EUR DecemberEUR 31, 2019DecemberEUR 31, 2019December 31, 2019 EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains on sale of investments 579,781 977,430 4,669,601 5,600,896 4,939,056 231,056 6,361,043 257 Realised gains on forward currency contracts ------Realised (losses)/gains on sale of futures contracts (9,448,515) (12,849,844) (15,168,940) (16,045,378) 2,213,721 (322,832) (4,015,495) - Realisedgainsonoptions ------Realised (losses)/gains on swaps (459,287) (1,275,830) 34,584 17,267,589 1,283,521 19,342,473 2,727,136 - Netcurrencygains ------Net change in unrealised appreciation/depreciation on investments 8,725,022 11,640,623 8,599,358 9,864,173 14,431,976 17,908,255 17,028,939 (60) Net change in unrealised appreciation on forward currency contracts ------Net change in unrealised appreciation on futures contracts ------Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation/(depreciation) on swaps 8,562,807 9,325,681 12,360,211 (7,447,234) (3,116,001) (23,821,447) (6,727,291) 668 Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains on sale of investment funds ------Net change in unrealised appreciation on investment funds ------7,959,808 7,818,060 10,494,814 9,240,046 19,752,273 13,337,505 15,374,332 865

1This Fund launched during the financial year ended 31 December 2019. NM ud Plc Funds ANIMA 413 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA Orizzonte ANIMA Europa 2023 Brightview-III ANIMAANIMA Orizzonte - Rendimento ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte ANIMA Orizzonte 1 Brightview1 IV Europa 2022 Bilanciato Sostenibile 2023 Benessere 2023 Consumi 2023 Energia 2023 Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended December 31, 2019December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 EUR EUR EUR EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised gains/(losses) on sale of investments 257 - (27,320) (101,343) 627,755 1,516,982 264,023 2,066,338 Realised gains on forward currency contracts ------Realised gains/(losses) on sale of futures contracts - - 18,775 146,607 (1,038,971) (4,697,439) 276,662 3,462,443 Realisedgainsonoptions ------Realised gains/(losses) on swaps - - 173,858 (144,022) (4,749,456) (3,468,440) (647,297) (1,259,286) Netcurrencygains ------Net change in unrealised appreciation/depreciation on investments 411 (15) 1,284,650 1,758,388 13,541,712 19,200,525 377,954 (1,244,586) Net change in unrealised appreciation on forward currency contracts ------Net change in unrealised appreciation on futures contracts ------Net change in unrealised appreciation on options ------Net change in unrealised appreciation on interest rate swaps ------Net change in unrealised appreciation on swaps 959 27 145,703 509,280 16,803,499 18,120,402 2,672,380 10,898,157 Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains on sale of investment funds ------Net change in unrealised appreciation on investment funds - - 43,656 52,388 ---- 1,627 12 1,639,322 2,221,298 25,184,539 30,672,030 2,943,722 13,923,066

1This Fund launched during the financial year ended 31 December 2019. NM ud Plc Funds ANIMA 414 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

5. Net Gains/(Losses) on Financial Assets and Liabilities at Fair Value Through Profit or Loss (continued)

ANIMA ANIMAANIMA Zephyr Zephyr ANIMA ANIMA Defensive Zephyr Global Global Allocation 1 Real Assets International Bond Year ended Year endedYear ended Year ended Year ended December 31, 2019 DecemberDecember 31, 2019 31, 2019 December 31, 2019 December 31, 2019 EUR EUR EUR EUR EUR Net Gains/(Losses) on Financial Assets and Liabilities held for trading Realised (losses)/gains on sale of investments (27,505) 345,510 229,802 293,324 101,022 Realised gains/(losses) on forward currency contracts - 60,727 (1,425) (134,387) (21,546) Realised gains/(losses) on sale of futures contracts - 4,835,765 1,174,463 925,548 (101,858) Realised losses on options - - - - (7,838) Realised gains on swaps - - - - - Net currency gains/(losses) - 27,111 (4,973) 42,713 66,965 Net change in unrealised appreciation on investments 41,951 150,767 186,702 114,105 1,021,704 Net change in unrealised appreciation on forward currency contracts - - - - 45,018 Net change in unrealised appreciation/(depreciation) on futures contracts - (80,967) (65,987) 9,295 25,173 Net change in unrealised appreciation on options - - - - 5,241 Net change in unrealised appreciation/(depreciation) on interest rate swaps - 25,144 - (16) - Net change in unrealised appreciation on swaps - - - - - Net Gains/(Losses) on Financial Assets and Liabilities designated at Fair Value Through Profit or Loss Realised gains on sale of investment funds 857,524 - 3,824 30,032 - Net change in unrealised appreciation on investment funds 941,219 - 135,332 92,707 - 1,813,189 5,364,057 1,657,738 1,373,321 1,133,881

1This Fund launched during the financial year ended 31 December 2019. NM ud Plc Funds ANIMA 415 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

6. Operating Expenses

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 416 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

6. Operating Expenses (continued)

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020. NM ud Plc Funds ANIMA 417 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

6. Operating Expenses (continued)

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

6. Operating Expenses (continued)

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 419 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

6. Operating Expenses (continued)

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Zephyr ANIMA Real Assets International Bond Year ended Year ended December 31, 2020 December 31, 2020 EUR EUR Administration and Depositary fees 17,724 12,022 Auditors’ remuneration 1,199 986 Commission/Broker’s fees - - Directors’ fees 255 196 Investment Management fees 60,012 124,222 Performance fees - - Other expenses 22,737 20,544 101,927 157,970 NM ud Plc Funds ANIMA 420 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

6. Operating Expenses (continued)

1This Fund launched during the financial year ended 31 December 2019.

2This Fund was terminated during financial year ended 31 December 2019. NM ud Plc Funds ANIMA 422 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

6. Operating Expenses (continued)

1This Fund launched during the financial year ended 31 December 2019.

NM ud Plc Funds ANIMA 1This Fund launched during the financial year ended 31 December 2019. 424 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

6. Operating Expenses (continued)

1This Fund launched during the financial year ended 31 December 2019.

7. Cash and Cash Equivalents

Cash and Cash Equivalents recognised at the Statement of Financial Position as of 31 December 2020 and 31 December 2019 are held within the State Street Bank and Trust Company (“State Street”).

8. Balance due from/to brokers

Balances due from and due to brokers recognised at the Statement of Financial Position are due from/to BNP Paribas. BNP Paribas is a counterparty for future contracts on the Funds.

Cash is deposited by or on behalf of the Funds for margin purposes and held by brokers for exchange traded derivative instruments held by the Relevant Funds. As this amount is normally the minimum deemed by the brokers for collateral requirements the cash is as such restricted and is reported separately to the unrestricted cash and cash equivalents on the Funds’ Statement of Financial Position. NM ud Plc Funds ANIMA 425 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors

ANIMA ANIMA ANIMA Short Term Total Company ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar ANIMA Global Bond ANIMA Life Bond 1 Corporate Bond As at As at As at As at AsAs at at AsAs at at 31 December 2020 31 December 2020 31 December 2020 31 December 2020 3131 December December 2020 2020 3131 December December 2020 2020 EUR EUR EUR EUR EUREUR EUREUR Bond income receivable 39,514,417 1,816,452 2,764,852 3,726,212 1,278,640 867,811 - 6,620,557 Dividend income receivable 3,501,155 - - - - 8 - - Other receivables 18,014,389 - 10,079 - - - - - Sale of securities awaiting settlement 53,205,740 21,069,764 10,270,881 6,771,451 4,556,206 6,912,465 - - Subscriptions of Shares awaiting settlement 32,022,874 5,427,234 3,437,611 201,362 758,710 1,867,998 - 18,296 146,258,575 28,313,450 16,483,423 10,699,025 6,593,556 9,648,282 - 6,638,853

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA ANIMA ANIMA Europe Equity ANIMA U.S. Equity Asia/Pacific Equity GlobalANIMA Equity Emerging Value ANIMA ANIMA As at As at As at 1 Markets Equity Global2 SelectionANIMA Euro Equity Global Currencies 31 December 2020 31 December 2020 31 December 2020As at As at As at As at As at EUR EUR 31 DecemberEUR 2020 31 December31 December 2020 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR Bond income receivable 2 - - - 3,486 - - 39,524 Dividend income receivable 1,159,405 96,066 51,468 79,112 59,702 1,160 442,114 - Other receivables - - - - - (249) - - Sale of securities awaiting settlement 899,254 - - - 80,344 - 27,894 - Subscriptions of Shares awaiting settlement 585,615 581,303 6,888 453,099 29,552 - 82,425 - 2,644,276 677,369 58,356 532,211 173,084 911 552,433 39,524

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 426 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors (continued)

ANIMA ANIMA Smart Smart Volatility ANIMA Credit ANIMA Star High ANIMA Trading Volatility USA Emerging Markets Opportunities Potential Italy ANIMA Fund ANIMA Smart ANIMA As at As at As at 1 As atActive Selection Dividends Europe Flexible Bond 31 December 2020 31 December 2020 31 December 2020 31 DecemberAs at 2020 As at As at As at EUR EUR EUR31 December 2020 EUR31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR Bond income receivable 101,513 54,588 3,351,172 29,424 23,814 - - 347,556 Dividend income receivable - - - 380 87,161 - 21,664 - Otherreceivables ------Sale of securities awaiting settlement - - - 22,386 423,597 - - - Subscriptions of Shares awaiting settlement 2,352,000 254,000 - 148 4,268,933 - - - 2,453,513 308,588 3,351,172 52,338 4,803,505 - 21,664 347,556

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020. NM ud Plc Funds ANIMA 427 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors (continued)

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA ANIMA Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV As at As at As at As at As at As at As at As at 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Bond income receivable - 223,263 767,871 506,626 - 475,390 123,195 219,779 Dividend income receivable 7,242 - - 20,375 48,091 - - - Other receivables ------Sale of securities awaiting settlement 28,331 - - - - 677,028 - 254,288 Subscriptions of Shares awaiting settlement 98,351 - - 5,956,123 - - - - 133,924 223,263 767,871 6,483,124 48,091 1,152,418 123,195 474,067 NM ud Plc Funds ANIMA 428 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors (continued)

ANIMA Orizzonte ANIMA ANIMA Europa 2023 Brightview-III Brightview IV ANIMA Brightview V ANIMA ANIMAANIMA Orizzonte - Rendimento As at As at 1 ANIMA Brightview-VI1 Brightview1 VII Brightview1 VIII Europa 2022 Bilanciato 31 December 2020 31 December 2020 As at As at As at As at As at As at EUR 31 DecemberEUR 202031 December 202031 December 202031 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR Bond income receivable 374,237 281,276 101,619 654,563 - - 183,488 218,798 Other receivables - (351) (2,465) (1,031) 1,159 31 697,907 746,184 Sale of securities awaiting settlement ------Subscriptions of Shares awaiting settlement ------374,237 280,925 99,154 653,532 1,159 31 881,395 964,982

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 429 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors (continued)

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Zephyr ANIMA Real Assets International Bond As at As at 31 December 2020 31 December 2020 EUR EUR Bond income receivable 44,317 153,887 Dividend income receivable 1,345 - Other receivables 192,871 - Sale of securities awaiting settlement - - Subscriptions of Shares awaiting settlement - - 238,533 153,887 NM ud Plc Funds ANIMA 430 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors (continued)

ANIMA ANIMA ANIMA Short Term Total Company ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar ANIMA Global Bond ANIMA Life Bond Corporate Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Bond income receivable 39,600,263 973,715 1,312,017 4,550,894 901,510 1,137,431 1,358,211 5,400,523 Dividend income receivable 3,378,296 - - - - (-) - - Other receivables 19,691,279 - 10,079 - - - - - Sale of securities awaiting settlement 11,808,049 4,003,965 - - - - - 1,180,561 Subscriptions of Shares awaiting settlement 16,510,725 53,073 379,330 262,058 489 418,261 - 17,454 90,988,612 5,030,753 1,701,426 4,812,952 901,999 1,555,692 1,358,211 6,598,538

ANIMA ANIMA ANIMA ANIMA Emerging ANIMA ANIMA Europe Equity ANIMA U.S. Equity Asia/Pacific Equity Global Equity Markets Equity ANIMA Euro Equity Global Currencies Variable Rate Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Bond income receivable - - - - 185 - 39,806 42,487 Dividend income receivable 1,351,963 82,130 51,253 95,244 44,528 442,892 - - Other receivables ------Sale of securities awaiting settlement 124,109 - - - 26,805 - - - Subscriptions of Shares awaiting settlement 1,261,865 1,098,982 42,852 10,314 11,295 16,629 - 4,938 2,737,937 1,181,112 94,105 105,558 82,813 459,521 39,806 47,425

ANIMA ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Hybrid Bond Government Bond Potential Europe ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Bond income receivable 1,382,616 1,351,491 1,267,902 1,625,478 44,012 238,451 50,353 56,536 Dividend income receivable - - 993,755 - - - - - Other receivables 40 - 4,732 - - - - - Sale of securities awaiting settlement - - 1,336,265 - - - - - Subscriptions of Shares awaiting settlement 5,039 1,176,864 1,347,224 1,687,679 - 152,000 - - 1,387,695 2,528,355 4,949,878 3,313,157 44,012 390,451 50,353 56,536 NM ud Plc Funds ANIMA 431 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors (continued)

ANIMA Smart Volatility Emerging Markets ANIMA Credit ANIMAANIMA Star High ANIMA Star High ANIMA ANIMA Smart ANIMA 1 Opportunities Tesoreria2 ImpresePotential Italy Potential Global Active Selection Dividends Europe Flexible Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Bond income receivable 31,081 2,883,290 462 42,992 116,848 - 372 462,836 Dividend income receivable - - - - 46,248 - 32,799 - Other receivables (-) ------(-) Sale of securities awaiting settlement - - - 34,509 - - - - Subscriptions of Shares awaiting settlement 97,000 - - 30,018 23,884 - - - 128,081 2,883,290 462 107,519 186,980 - 33,171 462,836

1This Fund launched during the financial year ended 31 December 2019.

2This Fund was terminated during the financial year ended 31 December 2019.

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Flexible Income Infrastructure Solution 2022-I Solution 2022-II Solution 2022-III Solution 2023-I Solution EM Italian Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Bond income receivable 244,375 15,208 244,544 120,265 145,301 - - 144,782 Dividend income receivable - 132,796 - - 1,459 - - - Other receivables - 1,179 ------Sale of securities awaiting settlement - 183,699 ------Subscriptions of Shares awaiting settlement ------8,072 244,375 332,882 244,544 120,265 146,760 - - 152,854 NM ud Plc Funds ANIMA 432 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors (continued)

ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA ANIMA Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Bond income receivable - 159,761 617,206 219,293 - 865,346 197,374 250,342 Dividend income receivable - - - 16,791 83,649 - - - Other receivables ------Sale of securities awaiting settlement 47,196 - - - 82,286 415,210 367,480 108,107 Subscriptions of Shares awaiting settlement 4,167 - - 4,960,789 - - - - 51,363 159,761 617,206 5,196,873 165,935 1,280,556 564,854 358,449

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III Brightview 2024-IV Brightview 2024-V ANIMABrightview 2025-IANIMA As at As at As at As at 1 BrightviewAs at 1 2027-I Brightview-II1 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31As December at 2019As at As at EUR EUR EUR 31 DecemberEUR 201931 DecemberEUR 201931 December 2019 EUR EUR EUR Bond income receivable 351,096 728,864 611,266 425,549 571,622 1,214,884 505,472 - Other receivables - - - (-) (-) 1,758 - 3,265 Sale of securities awaiting settlement 54,779 136,450 621,417 710,854 650,291 64,094 575,393 - Subscriptions of Shares awaiting settlement ------1,720,323 405,875 865,314 1,232,683 1,136,403 1,221,913 1,280,736 1,080,865 1,723,588

1This Fund launched during the financial year ended 31 December 2019.

Sale of securities Plc awaiting Funds ANIMA settlement ------Subscriptions of Shares awaiting settlement 1,651,600 ------433 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

9. Debtors (continued)

1This Fund launched during the financial year ended 31 December 2019.

ANIMA ANIMAANIMA Zephyr Zephyr ANIMA ANIMA Defensive Zephyr Global Global Allocation 1 Real Assets International Bond As at As atAs at As at As at 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR Bond income receivable - 129,642 146,388 81,850 120,273 Dividend income receivable - - - 2,789 - Other receivables (-) 2,909 1,888 (-) - Sale of securities awaiting settlement - 481,618 441,772 161,189 - Subscriptions of Shares awaiting settlement 68,526 - - - - 68,526 614,169 590,048 245,828 120,273

1This Fund launched during the financial year ended 31 December 2019. NM ud Plc Funds ANIMA 434 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

10. Creditors (amounts falling due within one year)

ANIMA ANIMA ANIMA Short Term ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar1 ANIMACorporate Global Bond Bond ANIMA Life Bond Total Company As at As at As at AsAs at at AsAs at at As at31 December 2020 31 December 2020 31 December 2020 31 December 2020 3131 December December 2020 2020 3131 December December 2020 2020 EUR EUR EUR EUR EUREUR EUREUR Accrued expenses 18,526,541 305,949 178,615 296,911 132,617 119,416 49,382 485,729 Purchase of securities awaiting settlement 35,308,488 - 11,246,956 5,050,947 8,068,138 7,059,917 - - Redemptions of Shares awaiting settlement 48,022,984 28,190,093 572,113 2,284,339 8,316 593,032 - 141,219 101,858,013 28,496,042 11,997,684 7,632,197 8,209,071 7,772,365 49,382 626,948

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA ANIMA ANIMA Europe Equity ANIMA U.S. Equity Asia/Pacific Equity GlobalANIMA Equity Emerging Value ANIMA ANIMA As at As at As at 1 Markets Equity Global2 SelectionANIMA Euro Equity Global Currencies 31 December 2020 31 December 2020 31 December 2020As at As at As at As at As at EUR EUR 31 DecemberEUR 2020 31 December31 December 2020 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR Accrued expenses 512,997 390,347 83,292 86,459 84,248 3,647 140,320 23,540 Purchase of securities awaiting settlement 354,607 - - - - 991,580 - - Redemptions of Shares awaiting settlement 1,978,605 2,140,140 507,230 142,443 131,028 - 304,460 - 2,846,209 2,530,487 590,522 228,902 215,276 995,227 444,780 23,540

1 ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

2 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

10. Creditors (amounts falling due within one year) (continued)

ANIMA ANIMA Smart Smart Volatility ANIMA Credit ANIMA Star High ANIMA Trading Volatility USA Emerging Markets Opportunities Potential Italy ANIMA Fund ANIMA Smart ANIMA As at As at As at 1 As atActive Selection Dividends Europe Flexible Bond 31 December 2020 31 December 2020 31 December 2020 31 DecemberAs at 2020 As at As at As at EUR EUR EUR31 December 2020 EUR31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR Accrued expenses 64,267 72,573 204,087 60,857 374,319 7,437 16,411 34,397 Purchase of securities awaiting settlement - - - - 119,705 94,828 - - Redemptions of Shares awaiting settlement 132,244 2,408,277 - - 27,231 11,536 - - 196,511 2,480,850 204,087 60,857 521,255 113,801 16,411 34,397

1 ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

1 Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA ANIMA Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV As at As at As at As at As at As at As at As at 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR EUR EUR Accrued expenses 22,502 16,564 33,562 906,564 32,701 102,243 32,755 42,917 Purchase of securities awaiting settlement 20,717 - - - 60,696 - - - Redemptions of Shares awaiting settlement 202,930 284 - 12,852 - 659,058 114,950 243,986 NM ud Plc Funds ANIMA 246,149 16,848 33,562 919,416 93,397 761,301 147,705 286,903 436 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

10. Creditors (amounts falling due within one year) (continued)

ANIMA Orizzonte ANIMA ANIMA Europa 2023 Brightview-III Brightview IV ANIMA Brightview V ANIMA ANIMAANIMA Orizzonte - Rendimento As at As at 1 ANIMA Brightview-VI1 Brightview1 VII Brightview1 VIII Europa 2022 Bilanciato 31 December 2020 31 December 2020 As at As at As at As at As at As at EUR 31 DecemberEUR 202031 December 202031 December 202031 December 2020 31 December 2020 31 December 2020 EUR EUR EUR EUR EUR EUR Accrued expenses 31,733 38,005 20,924 125,852 37,850 - 288,883 179,662 Purchase of securities awaiting settlement ------Redemptions of Shares awaiting settlement - - - 108,685 - - 23,422 - 31,733 38,005 20,924 234,537 37,850 - 312,305 179,662

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. NM ud Plc Funds ANIMA 437 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

10. Creditors (amounts falling due within one year) (continued)

1 This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Zephyr ANIMA Real Assets International Bond As at As at 31 December 2020 31 December 2020 EUR EUR Accrued expenses 12,169 33,630 Purchase of securities awaiting settlement - - Redemptions of Shares awaiting settlement - - 12,169 33,630

ANIMA ANIMA ANIMA Short Term ANIMA Liquidity Short Term Bond Medium Term Bond ANIMA Bond Dollar ANIMA Global Bond ANIMA Life Bond Corporate Bond Total Company As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Accrued expenses 11,670,662 404,563 174,386 506,109 145,357 179,055 456,857 540,293 Purchase of securities awaiting settlement 1,756,390 ------Redemptions of Shares awaiting settlement 22,873,149 4,546,115 670,045 701,337 462,179 132,559 - 140,883 36,300,201 4,950,678 844,431 1,207,446 607,536 311,614 456,857 681,176 NM ud Plc Funds ANIMA 438 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

10. Creditors (amounts falling due within one year) (continued)

ANIMA ANIMA ANIMA ANIMA Emerging ANIMA ANIMA Europe Equity ANIMA U.S. Equity Asia/Pacific Equity Global Equity Markets Equity ANIMA Euro Equity Global Currencies Variable Rate Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Accrued expenses 825,269 427,457 118,253 137,602 132,625 184,289 30,351 40,972 Purchase of securities awaiting settlement - - - - 19,351 - - - Redemptions of Shares awaiting settlement 1,085,227 601,408 156,885 45,943 142,609 37,504 360 64,934 1,910,496 1,028,865 275,138 183,545 294,585 221,793 30,711 105,906

ANIMA ANIMA Euro ANIMA Star High ANIMA Smart ANIMA Smart ANIMA Smart ANIMA Smart Hybrid Bond Government Bond Potential Europe ANIMA Star Bond Volatility Europe Volatility Global Volatility Italy Volatility USA As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Accrued expenses 106,412 266,457 1,361,772 482,605 36,602 102,522 67,315 42,622 Purchase of securities awaiting settlement ------Redemptions of Shares awaiting settlement - 267,205 3,040,897 240,460 - - - - 106,412 533,662 4,402,669 723,065 36,602 102,522 67,315 42,622

ANIMA Smart Volatility Emerging Markets ANIMA Credit ANIMAANIMA Star High ANIMA Star High ANIMA ANIMA Smart ANIMA 1 Opportunities Tesoreria2 ImpresePotential Italy Potential Global Active Selection Dividends Europe Flexible Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Accrued expenses 73,913 220,500 8,161 103,558 137,101 33,423 111,155 74,276 Purchase of securities awaiting settlement ------Redemptions of Shares awaiting settlement 741,940 - - 35,597 37,013 83,212 - 81,935 815,853 220,500 8,161 139,155 174,114 116,635 111,155 156,211

NM ud Plc Funds ANIMA 1This Fund launched during the financial year ended 31 December 2019.

2This Fund was terminated during the financial year ended 31 December 2019. 439 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

10. Creditors (amounts falling due within one year) (continued)

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Flexible Income Infrastructure Solution 2022-I Solution 2022-II Solution 2022-III Solution 2023-I Solution EM Italian Bond As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Accrued expenses 71,502 181,733 38,504 31,259 24,052 29,418 23,234 82,106 Purchase of securities awaiting settlement - - 2,215,000 - - - - - Redemptions of Shares awaiting settlement 166,515 2,173,559 162,536 175,941 391,769 77,812 33,455 11,726 238,017 2,355,292 2,416,040 207,200 415,821 107,230 56,689 93,832

ANIMA ANIMA High ANIMA Bond 2022 ANIMA ANIMA ANIMA ANIMA ANIMA Italian Equity Yield Bond Opportunities Global Macro Brightview 2023-I Brightview 2023-II Brightview 2023-III Brightview 2023-IV As at As at As at As at As at As at As at As at 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR EUR EUR EUR Accrued expenses 48,829 24,742 50,618 187,182 46,301 196,913 66,310 72,143 Purchase of securities awaiting settlement 76,744 - - - 74,857 26,106 62,263 2,184 Redemptions of Shares awaiting settlement 653,455 - - - 80,737 387,265 307,119 - 779,058 24,742 50,618 187,182 201,895 610,284 435,692 74,327

ANIMA ANIMA ANIMA ANIMA ANIMA ANIMA Brightview 2024-I Brightview 2024-II Brightview 2024-III Brightview 2024-IV Brightview 2024-V ANIMABrightview 2025-IANIMA As at As at As at As at 1 BrightviewAs at 1 2027-I Brightview-II1 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31As December at 2019As at As at EUR EUR EUR 31 DecemberEUR 201931 DecemberEUR 201931 December 2019 EUR EUR EUR Accrued expenses 87,841 110,677 132,775 140,518 180,234 178,721 136,134 18,941 Purchase of securities awaiting settlement - - 111,688 128,343 30,575 9,797 99,452 - Redemptions of Shares awaiting settlement 55,575 139,263 494,589 564,635 647,837 54,953 484,811 - 143,416 249,940 739,052 833,496 858,646 243,471 720,397 18,941

1This Fund launched during the financial year ended 31 December 2019. NM ud Plc Funds ANIMA 440 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

10. Creditors (amounts falling due within one year) (continued)

1This Fund launched during the financial year ended 31 December 2019.

ANIMA ANIMAANIMA Zephyr Zephyr ANIMA ANIMA Defensive Zephyr Global Global Allocation 1 Real Assets International Bond As at As atAs at As at As at 31 December 2019 31 December31 December 2019 2019 31 December 2019 31 December 2019 EUR EUR EUR EUR EUR Accrued expenses 103,872 69,871 58,955 40,046 38,172 Purchase of securities awaiting settlement - - - - - Redemptions of Shares awaiting settlement 241,843 - 50,631 20,521 - 345,715 69,871 109,586 60,567 38,172

1This Fund launched during the financial year ended 31 December 2019. NM ud Plc Funds ANIMA 441 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020

11. Share Capital

Authorised

The Authorised Share Capital of the Company is EUR 40,000 divided into 40,000 Subscriber Shares of a par value of EUR1 each and 5 billion Participating Shares of no par value.

Exercise of Voting rights

The Company has appointed ANIMA SGR S.p.A. as Manager of the Company, pursuant to a Management Agreement, with effect from 1 January 2019. The Manager undertakes the responsibility for managing the assets and investments of each Fund within the Company and it is delegated by the Company to exercise such voting rights in the exclusive benefit of the Company. The Manager, taking into consideration the Company’s portfolio under management, monitors corporate events and decides whether or not to exercise the right of voting and how to vote.

The Company makes sure that the voting rights, carried out by the delegates on its behalf, will only be exercised in the interest of the relevant sub-fund and its shareholders and defines the strategies to follow when conflicts of interest or potential conflicts of interest may arise. Details of the actions taken on the basis of those strategies are made available to shareholders free of charge and on their request..

Subscriber Shares

The Company has issued 40,000 Subscriber Shares as a quarter paid up and as they are not part of the participating Shares of the Company, they do not form part of the Net Asset Value of the Company. Of these Subscriber Shares 39,994 are held with ANIMA Asset Management Limited and the remainder are held upon trust by nominees of ANIMA Asset Management Limited. ANIMA Asset Management Limited acted as Investment Manager and Promoter of the Company until 31 December 2018.

Redeemable Participating Shares

The Net Assets attributable to Redeemable Participating Shareholders of the Company are at all times equal to the Net Asset Value of the Company. The Participating Shares are in substance a liability of the Company to the Shareholders under IAS 32 and they can be redeemed at the option of the Shareholders. Every Shareholder or Holder of non-participating shares, present in person or by proxy, who votes on a show of hands shall be entitled to one vote. The rights attaching to the Shares issued in any Class or Fund may, whether or not the Company is being wound up, be varied or abrogated with the consent in writing of the Shareholders of three-quarters of the issued Shares or of that Class or Fund, or with the sanction of a resolution passed at a separate meeting of the Participating Shareholders of the Class by a majority of three-fourths of the votes cast at such a meeting of that Class or Fund.

Share Classes

The Company may create more than one class of Shares (each a “Class”) in relation to each Fund. The Company is structured as an umbrella fund consisting of different Funds comprising one or more Share Classes. A separate portfolio of assets is not maintained for each Class. The investment objective and policies and other details in relation to each Fund are set out in the relevant Information Cards, which form part of the Prospectus. Within the maximum permitted limit the Manager’s fees may differ between Funds and between Classes of the same Fund. The current fees charged by the Investment Manager for each class are specified in the Class Information Cards or in the relevant Information Cards. Shares issued in a Fund or Class will be denominated in the base currency or in such other currency as may be specified in the Class Information Cards or in the relevant Information Cards.

In accordance with the objectives listed in the Directors’ Report and in the risk management policies as discussed in Note 3, the Company strives to invest the subscriptions of redeemable participating shares in appropriate investments, while maintaining sufficient liquidity to meet Shareholder redemptions. Requests for redemptions received by the Administrator prior to the Dealing deadline for any Dealing Day will be dealt with on that Dealing Day.

ANIMA Funds Plc 442 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

SharesinIssue

ANIMA Liquidity Year ended 31 December 2020 Class A Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 7,887,240 59,066,037 150,095 5,962,683 Issued during financial year 2,150,179 104,591,612 224,219 591,901 Redeemed during financial year (3,582,056) (56,445,557) (159,503) (1,906,008)

Total number of Shares in issue at end of financial year 6,455,363 107,212,092 214,811 4,648,576

ANIMA Short Term Bond Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 24,244,877 1,580,172 332,217 Issued during financial year 44,688,404 348,792 220,524 Redeemed during financial year (11,918,745) (561,176) (122,095)

Total number of Shares in issue at end of financial year 57,014,536 1,367,788 430,646

ANIMA Medium Term Bond Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 37,938,549 10,372,988 929,221 Issued during financial year 19,858,450 1,472,759 342,197 Redeemed during financial year (14,369,911) (5,162,242) (350,622)

Total number of Shares in issue at end of financial year 43,427,088 6,683,505 920,796

ANIMA Bond Dollar Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 21,909,113 274,298 443,230 Issued during financial year 29,807,891 131,636 765,860 Redeemed during financial year (17,556,268) (144,239) (418,318)

Total number of Shares in issue at end of financial year 34,160,736 261,695 790,772

ANIMA Global Bond Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 22,797,862 153,311 1,430,292 Issued during financial year 9,111,281 89,749 591,519 Redeemed during financial year (11,154,652) (70,844) (453,450)

Total number of Shares in issue at end of financial year 20,754,491 172,216 1,568,361

ANIMA Life Bond1 Year ended 31 December 2020 Class Silver Number of Shares in issue at beginning of financial year 49,249,123 Issued during financial year -

ANIMA Funds Plc 443 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Life Bond1 Year ended 31 December 2020 Class Silver Redeemed during financial year (49,249,123)

Total number of Shares in issue at end of financial year -

1Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA Short Term Corporate Bond Year ended 31 December 2020 Class I Class Silver Number of Shares in issue at beginning of financial year 67,410,229 4,949,687 Issued during financial year 16,398,873 158,229 Redeemed during financial year (16,877,883) (595,653)

Total number of Shares in issue at end of financial year 66,931,219 4,512,263

ANIMA Europe Equity Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 19,624,606 8,206,637 1,664,142 Issued during financial year 12,694,998 728,965 56,753 Redeemed during financial year (12,482,949) (2,952,050) (426,718)

Total number of Shares in issue at end of financial year 19,836,655 5,983,552 1,294,177

ANIMA U.S. Equity Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 11,639,558 412,634 496,225 Issued during financial year 8,730,603 70,562 93,875 Redeemed during financial year (6,747,669) (188,179) (216,906)

Total number of Shares in issue at end of financial year 13,622,492 295,017 373,194

ANIMA Asia/Pacific Equity Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 3,799,033 59,296 287,444 Issued during financial year 1,208,135 20,049 50,820 Redeemed during financial year (1,032,658) (28,792) (71,836)

Total number of Shares in issue at end of financial year 3,974,510 50,553 266,428

ANIMA Global Equity Value1 Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 1,752,222 219,455 1,856,767 Issued during financial year 1,117,941 47,913 115,047

ANIMA Funds Plc 444 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Global Equity Value1 Year ended 31 December 2020 Class I Class Prestige Class Silver Redeemed during financial year (1,798,682) (75,539) (345,832)

Total number of Shares in issue at end of financial year 1,071,481 191,829 1,625,982

1ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020.

ANIMA Emerging Markets Equity Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 4,085,490 228,207 2,349,754 Issued during financial year 1,538,935 76,907 93,590 Redeemed during financial year (1,379,955) (127,776) (507,420)

Total number of Shares in issue at end of financial year 4,244,470 177,338 1,935,924

ANIMA Global Selection 1 Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year - - - Issued during financial year 2,000,000 200 200 Redeemed during financial year ---

Total number of Shares in issue at end of financial year 2,000,000 200 200

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Euro Equity Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 11,220,914 Issued during financial year 7,113,467 Redeemed during financial year (5,639,320)

Total number of Shares in issue at end of financial year 12,695,061

ANIMA Global Currencies Year ended 31 December 2020 Class I Class Prestige Number of Shares in issue at beginning of financial year 1,155,708 426,502 Issued during financial year 522 - Redeemed during financial year (364,787) (81,002)

Total number of Shares in issue at end of financial year 791,443 345,500

ANIMA Funds Plc 445 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Variable Rate Bond Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 5,207,322 Issued during financial year 515,777 Redeemed during financial year (1,164,061)

Total number of Shares in issue at end of financial year 4,559,038

ANIMA Hybrid Bond Year ended 31 December 2020 Class Class I Number of Shares in issue at beginning of financial year 14,550,281 Issued during financial year 5,570,184 Redeemed during financial year (3,551,807)

Total number of Shares in issue at end of financial year 16,568,658

ANIMA Euro Government Bond Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 45,673,303 Issued during financial year 10,137,484 Redeemed during financial year (26,931,484)

Total number of Shares in issue at end of financial year 28,879,303

ANIMA Star High Potential Europe Year ended 31 December 2020 Class Class A Class Classic Class Classic Class I Class Prestige Class Silver A B Number of Shares in issue at beginning 11,146,744 418,217 10,719,493 64,555,149 1,806,464 5,424,662 of financial year Issued during financial year 129,762 136,710 258,406 51,854,195 346,095 2,155,738 Redeemed during financial year (742,268) (238,400) (3,455,540) (35,442,375) (475,439) (1,523,437)

Total number of Shares in issue at end of financial year 10,534,238 316,527 7,522,359 80,966,969 1,677,120 6,056,963

ANIMA Star Bond Year ended 31 December 2020 Class Classic Class Classic Class I Dis Class I Class Prestige Class Silver A B Number of Shares in issue at beginning 130,598 324,253 8,008,716 38,112,165 877,357 1,988,068 of financial year Issued during financial year - 44,016 - 23,764,607 4,033 6,279

ANIMA Funds Plc 446 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Star Bond Year ended 31 December 2020 Class Classic Class Classic Class I Dis Class I Class Prestige Class Silver A B Redeemed during financial year (115,927) (123,118) - (19,215,004) (260,182) (707,865)

Total number of Shares in issue at end of financial year 14,671 245,151 8,008,716 42,661,768 621,208 1,286,482

ANIMA Smart Volatility Europe Year ended 31 December 2020 Class Class I Number of Shares in issue at beginning of financial year 2,682,620 Issued during financial year 154,858 Redeemed during financial year (578,403)

Total number of Shares in issue at end of financial year 2,259,075

ANIMA Smart Volatility Global Year ended 31 December 2020 Class Class I Number of Shares in issue at beginning of financial year 20,637,980 Issued during financial year 8,912,544 Redeemed during financial year (3,118,335)

Total number of Shares in issue at end of financial year 26,432,189

ANIMA Smart Volatility Italy Year ended 31 December 2020 Class Class I Number of Shares in issue at beginning of financial year 3,043,347 Issued during financial year - Redeemed during financial year (508,009)

Total number of Shares in issue at end of financial year 2,535,338

ANIMA Smart Volatility USA Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 8,851,524 Issued during financial year 6,988,796 Redeemed during financial year (1,274,917)

Total number of Shares in issue at end of financial year 14,565,403

ANIMA Funds Plc 447 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Smart Volatility Emerging Markets Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 2,705,741 Issued during financial year 18,071,271 Redeemed during financial year (615,347)

Total number of Shares in issue at end of financial year 20,161,665

ANIMA Credit Opportunities Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 62,434,461 Issued during financial year 10,902,359 Redeemed during financial year -

Total number of Shares in issue at end of financial year 73,336,820

ANIMA Star High Potential Italy Year ended 31 December 2020 Class Classic Class Classic Class I Class Prestige Class Silver A B Number of Shares in issue at beginning of financial year 36,869 981,010 5,068,694 121,636 293,575 Issued during financial year 2,141 26,304 323,815 - 5,963 Redeemed during financial year (33,469) (388,395) (2,702,185) (43,037) (74,851)

Total number of Shares in issue at end of financial year 5,541 618,919 2,690,324 78,599 224,687

ANIMA Trading Fund1 Year ended 31 December 2020 Class Classic Class Classic Class I Class Prestige Class Silver A B Number of Shares in issue at beginning of financial year 459,726 323,938 8,217,858 38,733 299,359 Issued during financial year 96,634 98,650 11,075,389 - 8,940 Redeemed during financial year (114,248) (212,508) (3,356,751) (22,026) (73,230)

Total number of Shares in issue at end of financial year 442,112 210,080 15,936,496 16,707 235,069

1ANIMA Star High Potential Global changed name to ANIMA Trading Fund during financial year ended 31 December 2020.

ANIMA Active Selection Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 3,992,177 Issued during financial year -

ANIMA Funds Plc 448 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Active Selection Year ended 31 December 2020 Class I Redeemed during financial year (471,931)

Total number of Shares in issue at end of financial year 3,520,246

ANIMA Smart Dividends Europe Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 2,992,637 Issued during financial year 813,947 Redeemed during financial year (1,187,734)

Total number of Shares in issue at end of financial year 2,618,850

ANIMA Flexible Bond Year ended 31 December 2020 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 14,262,902 1,000 1,000 Issued during financial year 2,275,969 - - Redeemed during financial year (7,982,344) - -

Total number of Shares in issue at end of financial year 8,556,527 1,000 1,000

ANIMA Flexible Income Year ended 31 December 2020 Class Class I Number of Shares in issue at beginning of financial year 7,340,126 Issued during financial year 269,152 Redeemed during financial year (7,609,278)

Total number of Shares in issue at end of financial year -

ANIMA Infrastructure1 Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 21,402,109 Issued during financial year 469,940 Redeemed during financial year (21,872,049)

Total number of Shares in issue at end of financial year -

1Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA Funds Plc 449 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Solution 2022-I Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 35,528,414 Issued during financial year - Redeemed during financial year (5,686,486)

Total number of Shares in issue at end of financial year 29,841,928

ANIMA Solution 2022-II Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 18,656,285 Issued during financial year - Redeemed during financial year (5,185,523)

Total number of Shares in issue at end of financial year 13,470,762

ANIMA Solution 2022-III Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 26,416,852 Issued during financial year - Redeemed during financial year (4,590,494)

Total number of Shares in issue at end of financial year 21,826,358

ANIMA Solution 2023-I Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 44,202,515 Issued during financial year - Redeemed during financial year (3,890,211)

Total number of Shares in issue at end of financial year 40,312,304

ANIMA Solution EM Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 7,175,913 Issued during financial year - Redeemed during financial year (555,257)

Total number of Shares in issue at end of financial year 6,620,656

ANIMA Funds Plc 450 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Italian Bond Year ended 31 December 2020 Class I Class Silver Number of Shares in issue at beginning of financial year 2,347 7,082,147 Issued during financial year 3,526 130,493 Redeemed during financial year (1,450) (724,103)

Total number of Shares in issue at end of financial year 4,423 6,488,537

ANIMA Italian Equity Year ended 31 December 2020 Class I Class Silver Number of Shares in issue at beginning of financial year 2,060,858 854,504 Issued during financial year 304,831 143,116 Redeemed during financial year (960,527) (207,779)

Total number of Shares in issue at end of financial year 1,405,162 789,841

ANIMA High Yield Bond Year ended 31 December 2020 Class Class I Number of Shares in issue at beginning of financial year 2,499,663 Issued during financial year 2,295,419 Redeemed during financial year (955,607)

Total number of Shares in issue at end of financial year 3,839,475

ANIMA Bond 2022 Opportunities Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 9,384,681 Issued during financial year - Redeemed during financial year -

Total number of Shares in issue at end of financial year 9,384,681

ANIMA Global Macro Year ended 31 December 2020 Class Classic Class I Class Classic A B Number of Shares in issue at beginning of financial year 112,753 27,434,474 8,822 Issued during financial year 206,551 22,640,530 - Redeemed during financial year (9,365) (10,461,848) (8,822)

Total number of Shares in issue at end of financial year 309,939 39,613,156 -

ANIMA Funds Plc 451 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Brightview 2023-I Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 3,094,720 Issued during financial year - Redeemed during financial year (258,114)

Total number of Shares in issue at end of financial year 2,836,606

ANIMA Brightview 2023-II Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 15,186,227 Issued during financial year 680 Redeemed during financial year (3,353,153)

Total number of Shares in issue at end of financial year 11,833,754

ANIMA Brightview 2023-III Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 4,981,270 Issued during financial year 288 Redeemed during financial year (1,312,318)

Total number of Shares in issue at end of financial year 3,669,240

ANIMA Brightview 2023-IV Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 6,013,523 Issued during financial year 241 Redeemed during financial year (870,284)

Total number of Shares in issue at end of financial year 5,143,480

ANIMA Brightview 2024-I Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 7,286,937 Issued during financial year 120 Redeemed during financial year (579,087)

Total number of Shares in issue at end of financial year 6,707,970

ANIMA Funds Plc 452 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Brightview 2024-II Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 9,195,846 Issued during financial year 241 Redeemed during financial year (637,386)

Total number of Shares in issue at end of financial year 8,558,701

ANIMA Brightview 2024-III Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 10,916,691 Issued during financial year 247 Redeemed during financial year (1,714,195)

Total number of Shares in issue at end of financial year 9,202,743

ANIMA Brightview 2024-IV Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 11,138,798 Issued during financial year 266 Redeemed during financial year (1,526,104)

Total number of Shares in issue at end of financial year 9,612,960

ANIMA Brightview 2024-V Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 14,261,239 Issued during financial year - Redeemed during financial year (3,773,352)

Total number of Shares in issue at end of financial year 10,487,887

ANIMA Brightview 2025-I Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 24,648,669 Issued during financial year - Redeemed during financial year (1,797,182)

Total number of Shares in issue at end of financial year 22,851,487

ANIMA Funds Plc 453 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Brightview 2027-I Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 12,253,993 Issued during financial year - Redeemed during financial year (3,377,369)

Total number of Shares in issue at end of financial year 8,876,624

ANIMA Brightview-II Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 6,504,794 Issued during financial year - Redeemed during financial year (222,031)

Total number of Shares in issue at end of financial year 6,282,763

ANIMA Brightview-III Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 6,232,826 Issued during financial year - Redeemed during financial year (219,252)

Total number of Shares in issue at end of financial year 6,013,574

ANIMA Brightview-IV Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 25,000 Issued during financial year 7,709,052 Redeemed during financial year (183,698)

Total number of Shares in issue at end of financial year 7,550,354

ANIMA Brightview-V1 Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 3,748,798 Redeemed during financial year (45,708)

Total number of Shares in issue at end of financial year 3,703,090

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Funds Plc 454 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Brightview-VI1 Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 19,999,497 Redeemed during financial year (189,553)

Total number of Shares in issue at end of financial year 19,809,944

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Brightview-VII1 Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 9,357,524 Redeemed during financial year -

Total number of Shares in issue at end of financial year 9,357,524

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Brightview-VIII Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 25,000 Redeemed during financial year -

Total number of Shares in issue at end of financial year 25,000

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Orizzonte Europa 2022 Year ended 31 December 2020 Class Silver Number of Shares in issue at beginning of financial year 7,411,262 Issued during financial year - Redeemed during financial year (548,881)

Total number of Shares in issue at end of financial year 6,862,381

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Year ended 31 December 2020 Class Silver Number of Shares in issue at beginning of financial year 7,938,584 Issued during financial year -

ANIMA Funds Plc 455 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Year ended 31 December 2020 Class Silver Redeemed during financial year (436,663)

Total number of Shares in issue at end of financial year 7,501,921

ANIMA Orizzonte Sostenibile 2023 Year ended 31 December 2020 Class Silver Number of Shares in issue at beginning of financial year 49,373,436 Issued during financial year - Redeemed during financial year (2,531,038)

Total number of Shares in issue at end of financial year 46,842,398

ANIMA Orizzonte Benessere 2023 Year ended 31 December 2020 Class Silver Number of Shares in issue at beginning of financial year 58,912,234 Issued during financial year - Redeemed during financial year (5,327,989)

Total number of Shares in issue at end of financial year 53,584,245

ANIMA Orizzonte Consumi 2023 Year ended 31 December 2020 Class Silver Number of Shares in issue at beginning of financial year 5,164,375 Issued during financial year - Redeemed during financial year (894,784)

Total number of Shares in issue at end of financial year 4,269,591

ANIMA Orizzonte Energia 2023 Year ended 31 December 2020 Class Silver Number of Shares in issue at beginning of financial year 22,218,556 Issued during financial year - Redeemed during financial year (8,056,560)

Total number of Shares in issue at end of financial year 14,161,996

ANIMA Funds Plc 456 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Defensive Year ended 31 December 2020 Class Silver Number of Shares in issue at beginning of financial year 15,747,982 Issued during financial year 1,555,139 Redeemed during financial year (7,459,501)

Total number of Shares in issue at end of financial year 9,843,620

ANIMA Zephyr Global Year ended 31 December 2020 Class Class I Number of Shares in issue at beginning of financial year 8,948,004 Issued during financial year - Redeemed during financial year (529,093)

Total number of Shares in issue at end of financial year 8,418,911

ANIMA Zephyr Global Allocation Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 11,776,497 Issued during financial year - Redeemed during financial year (718,494)

Total number of Shares in issue at end of financial year 11,058,003

ANIMA Zephyr New1 Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 4,206,895 Redeemed during financial year (108,774)

Total number of Shares in issue at end of financial year 4,098,121

ANIMA Zephyr Real Assets Year ended 31 December 2020 Class I Number of Shares in issue at beginning of financial year 5,196,328 Issued during financial year - Redeemed during financial year (360,707)

Total number of Shares in issue at end of financial year 4,835,621

ANIMA Funds Plc 457 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA International Bond Year ended 31 December 2020 Class Class I Number of Shares in issue at beginning of financial year 3,332,877 Issued during financial year 2,739,591 Redeemed during financial year -

Total number of Shares in issue at end of financial year 6,072,468

ANIMA Liquidity Year ended 31 December 2019 Class A Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 10,723,550 64,421,218 51,635 8,726,906 Issued during financial year 591,814 69,164,182 282,572 297,584 Redeemed during financial year (3,428,124) (74,519,363) (184,112) (3,061,807)

Total number of Shares in issue at end of financial year 7,887,240 59,066,037 150,095 5,962,683

ANIMA Short Term Bond Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 27,241,077 1,962,235 240,076 Issued during financial year 5,460,829 192,730 191,638 Redeemed during financial year (8,457,029) (574,793) (99,497)

Total number of Shares in issue at end of financial year 24,244,877 1,580,172 332,217

ANIMA Medium Term Bond Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 50,677,053 12,413,609 763,378 Issued during financial year 12,913,717 917,473 516,876 Redeemed during financial year (25,652,221) (2,958,094) (351,033)

Total number of Shares in issue at end of financial year 37,938,549 10,372,988 929,221

ANIMA Bond Dollar Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 17,061,275 317,904 635,751 Issued during financial year 10,105,355 159,116 196,799 Redeemed during financial year (5,257,517) (202,722) (389,320)

Total number of Shares in issue at end of financial year 21,909,113 274,298 443,230

ANIMA Global Bond Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 9,818,155 148,038 1,643,547 Issued during financial year 21,984,782 86,826 274,521

ANIMA Funds Plc 458 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Global Bond Year ended 31 December 2019 Class I Class Prestige Class Silver Redeemed during financial year (9,005,075) (81,553) (487,776)

Total number of Shares in issue at end of financial year 22,797,862 153,311 1,430,292

ANIMA Life Bond Year ended 31 December 2019 Class Silver Number of Shares in issue at beginning of financial year 49,249,123 Issued during financial year - Redeemed during financial year -

Total number of Shares in issue at end of financial year 49,249,123

ANIMA Short Term Corporate Bond Year ended 31 December 2019 Class I Class Silver Number of Shares in issue at beginning of financial year 52,358,790 5,884,566 Issued during financial year 33,213,918 193,712 Redeemed during financial year (18,162,479) (1,128,591)

Total number of Shares in issue at end of financial year 67,410,229 4,949,687

ANIMA Europe Equity Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 34,316,279 10,638,789 2,072,689 Issued during financial year 7,496,073 845,925 96,370 Redeemed during financial year (22,187,746) (3,278,077) (504,917)

Total number of Shares in issue at end of financial year 19,624,606 8,206,637 1,664,142

ANIMA U.S. Equity Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 11,456,600 327,283 661,997 Issued during financial year 5,976,783 243,153 195,606 Redeemed during financial year (5,793,825) (157,802) (361,378)

Total number of Shares in issue at end of financial year 11,639,558 412,634 496,225

ANIMA Asia/Pacific Equity Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 3,986,558 50,703 271,690 Issued during financial year 2,592,376 24,005 92,186

ANIMA Funds Plc 459 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Asia/Pacific Equity Year ended 31 December 2019 Class I Class Prestige Class Silver Redeemed during financial year (2,779,901) (15,412) (76,432)

Total number of Shares in issue at end of financial year 3,799,033 59,296 287,444

ANIMA Global Equity Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 1,739,274 271,055 1,987,886 Issued during financial year 699,887 44,921 171,889 Redeemed during financial year (686,939) (96,521) (303,008)

Total number of Shares in issue at end of financial year 1,752,222 219,455 1,856,767

ANIMA Emerging Markets Equity Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 5,429,935 190,589 2,407,458 Issued during financial year 1,652,634 92,928 432,234 Redeemed during financial year (2,997,079) (55,310) (489,938)

Total number of Shares in issue at end of financial year 4,085,490 228,207 2,349,754

ANIMA Euro Equity Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 16,013,972 Issued during financial year 6,605,585 Redeemed during financial year (11,398,643)

Total number of Shares in issue at end of financial year 11,220,914

ANIMA Global Currencies Year ended 31 December 2019 Class I Class Prestige Number of Shares in issue at beginning of financial year 1,160,897 637,374 Issued during financial year 1,015 - Redeemed during financial year (6,204) (210,872)

Total number of Shares in issue at end of financial year 1,155,708 426,502

ANIMA Variable Rate Bond Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 7,328,321 Issued during financial year 689,166

ANIMA Funds Plc 460 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Variable Rate Bond Year ended 31 December 2019 Class I Redeemed during financial year (2,810,165)

Total number of Shares in issue at end of financial year 5,207,322

ANIMA Hybrid Bond Year ended 31 December 2019 Class Class I Number of Shares in issue at beginning of financial year 5,984,185 Issued during financial year 9,069,266 Redeemed during financial year (503,170)

Total number of Shares in issue at end of financial year 14,550,281

ANIMA Euro Government Bond Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 53,659,712 Issued during financial year 10,754,801 Redeemed during financial year (18,741,210)

Total number of Shares in issue at end of financial year 45,673,303

ANIMA Star High Potential Europe Year ended 31 December 2019 Class Class A Class Classic Class Classic Class I Class Prestige Class Silver A B Number of Shares in issue at beginning 9,343,369 3,893,233 18,051,912 55,482,872 2,795,070 7,992,390 of financial year Issued during financial year 2,759,206 68,616 3,640,144 29,385,840 20,360 150,422 Redeemed during financial year (955,831) (3,543,632) (10,972,563) (20,313,563) (1,008,966) (2,718,150)

Total number of Shares in issue at end 11,146,744 418,217 10,719,493 64,555,149 1,806,464 5,424,662 of financial year

ANIMA Star Bond Year ended 31 December 2019 Class Classic Class Classic Class I Dis Class I Class Prestige Class Silver A B Number of Shares in issue at beginning 508,103 449,191 8,008,716 55,039,686 1,214,729 3,726,783 of financial year Issued during financial year - 365,213 - 12,568,513 22,717 13,914

ANIMA Funds Plc 461 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Star Bond Year ended 31 December 2019 Class Classic Class Classic Class I Dis Class I Class Prestige Class Silver A B Redeemed during financial year (377,505) (490,151) - (29,496,034) (360,089) (1,752,629)

Total number of Shares in issue at end 130,598 324,253 8,008,716 38,112,165 877,357 1,988,068 of financial year

ANIMA Smart Volatility Europe Year ended 31 December 2019 Class Class I Number of Shares in issue at beginning of financial year 4,111,838 Issued during financial year 165,884 Redeemed during financial year (1,595,102)

Total number of Shares in issue at end of financial year 2,682,620

ANIMA Smart Volatility Global Year ended 31 December 2019 Class Class I Number of Shares in issue at beginning of financial year 9,200,567 Issued during financial year 14,991,932 Redeemed during financial year (3,554,519)

Total number of Shares in issue at end of financial year 20,637,980

ANIMA Smart Volatility Italy Year ended 31 December 2019 Class Class I Number of Shares in issue at beginning of financial year 5,405,686 Issued during financial year 272,161 Redeemed during financial year (2,634,500)

Total number of Shares in issue at end of financial year 3,043,347

ANIMA Smart Volatility USA Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 2,184,211 Issued during financial year 6,833,664 Redeemed during financial year (166,351)

Total number of Shares in issue at end of financial year 8,851,524

ANIMA Funds Plc 462 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Smart Volatility Emerging Markets1 Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 3,205,033 Redeemed during financial year (499,292)

Total number of Shares in issue at end of financial year 2,705,741

1This Fund launched during the financial year ended 31 December 2019.

ANIMA Credit Opportunities Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 32,279,945 Issued during financial year 30,154,516 Redeemed during financial year -

Total number of Shares in issue at end of financial year 62,434,461

ANIMA Star High Potential Italy Year ended 31 December 2019 Class Classic Class Classic Class I Class Prestige Class Silver A B Number of Shares in issue at beginning of financial year 789,578 1,588,383 7,042,634 121,636 373,747 Issued during financial year 5,486 679,252 22,139 - 9,663 Redeemed during financial year (758,195) (1,286,625) (1,996,079) - (89,835)

Total number of Shares in issue at end of financial year 36,869 981,010 5,068,694 121,636 293,575

ANIMA Star High Potential Global Year ended 31 December 2019 Class Classic Class Classic Class I Class Prestige Class Silver A B Number of Shares in issue at beginning of financial year 689,795 470,009 13,190,869 46,627 497,994 Issued during financial year 94,239 254,452 592,470 - 9,541 Redeemed during financial year (324,308) (400,523) (5,565,481) (7,894) (208,176)

Total number of Shares in issue at end of financial year 459,726 323,938 8,217,858 38,733 299,359

ANIMA Active Selection Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 4,733,733 Issued during financial year - Redeemed during financial year (741,556)

Total number of Shares in issue at end of financial year 3,992,177

ANIMA Funds Plc 463 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Smart Dividends Europe Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 3,087,052 Issued during financial year 368,773 Redeemed during financial year (463,188)

Total number of Shares in issue at end of financial year 2,992,637

ANIMA Flexible Bond Year ended 31 December 2019 Class I Class Prestige Class Silver Number of Shares in issue at beginning of financial year 2,010,000 1,000 1,000 Issued during financial year 13,763,145 - - Redeemed during financial year (1,510,243) - -

Total number of Shares in issue at end of financial year 14,262,902 1,000 1,000

ANIMA Flexible Income Year ended 31 December 2019 Class Class I Number of Shares in issue at beginning of financial year 9,317,007 Issued during financial year 876,454 Redeemed during financial year (2,853,335)

Total number of Shares in issue at end of financial year 7,340,126

ANIMA Infrastructure Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 17,247,233 Issued during financial year 8,038,997 Redeemed during financial year (3,884,121)

Total number of Shares in issue at end of financial year 21,402,109

ANIMA Solution 2022-I Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 43,846,816 Issued during financial year - Redeemed during financial year (8,318,402)

Total number of Shares in issue at end of financial year 35,528,414

ANIMA Funds Plc 464 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Solution 2022-II Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 38,160,351 Issued during financial year - Redeemed during financial year (19,504,066)

Total number of Shares in issue at end of financial year 18,656,285

ANIMA Solution 2022-III Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 30,192,626 Issued during financial year - Redeemed during financial year (3,775,774)

Total number of Shares in issue at end of financial year 26,416,852

ANIMA Solution 2023-I Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 48,059,846 Issued during financial year - Redeemed during financial year (3,857,331)

Total number of Shares in issue at end of financial year 44,202,515

ANIMA Solution EM Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 7,551,831 Issued during financial year - Redeemed during financial year (375,918)

Total number of Shares in issue at end of financial year 7,175,913

ANIMA Italian Bond Year ended 31 December 2019 Class I Class Silver Number of Shares in issue at beginning of financial year 18,634 8,524,183 Issued during financial year 4,005 240,119 Redeemed during financial year (20,292) (1,682,155)

Total number of Shares in issue at end of financial year 2,347 7,082,147

ANIMA Funds Plc 465 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Italian Equity Year ended 31 December 2019 Class I Class Silver Number of Shares in issue at beginning of financial year 2,148,053 1,259,278 Issued during financial year 320,240 69,951 Redeemed during financial year (407,435) (474,725)

Total number of Shares in issue at end of financial year 2,060,858 854,504

ANIMA High Yield Bond Year ended 31 December 2019 Class Class I Number of Shares in issue at beginning of financial year 2,379,745 Issued during financial year 497,404 Redeemed during financial year (377,486)

Total number of Shares in issue at end of financial year 2,499,663

ANIMA Bond 2022 Opportunities Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 9,384,681 Issued during financial year - Redeemed during financial year -

Total number of Shares in issue at end of financial year 9,384,681

ANIMA Global Macro Year ended 31 December 2019 Class Classic Class I Class Classic A B Number of Shares in issue at beginning of financial year 5,581 18,211,898 - Issued during financial year 129,002 16,607,450 19,606 Redeemed during financial year (21,830) (7,384,874) (10,784)

Total number of Shares in issue at end of financial year 112,753 27,434,474 8,822

ANIMA Brightview 2023-I Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 3,306,604 Issued during financial year - Redeemed during financial year (211,884)

Total number of Shares in issue at end of financial year 3,094,720

ANIMA Funds Plc 466 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Brightview 2023-II Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 16,457,567 Issued during financial year - Redeemed during financial year (1,271,340)

Total number of Shares in issue at end of financial year 15,186,227

ANIMA Brightview 2023-III Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 5,736,362 Issued during financial year - Redeemed during financial year (755,092)

Total number of Shares in issue at end of financial year 4,981,270

ANIMA Brightview 2023-IV Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 6,437,211 Issued during financial year - Redeemed during financial year (423,688)

Total number of Shares in issue at end of financial year 6,013,523

ANIMA Brightview 2024-I Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 7,718,700 Issued during financial year - Redeemed during financial year (431,763)

Total number of Shares in issue at end of financial year 7,286,937

ANIMA Brightview 2024-II Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 9,687,746 Issued during financial year - Redeemed during financial year (491,900)

Total number of Shares in issue at end of financial year 9,195,846

ANIMA Funds Plc 467 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Brightview 2024-III Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 11,811,983 Issued during financial year - Redeemed during financial year (895,292)

Total number of Shares in issue at end of financial year 10,916,691

ANIMA Brightview 2024-IV Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 13,072,470 Issued during financial year - Redeemed during financial year (1,933,672)

Total number of Shares in issue at end of financial year 11,138,798

ANIMA Brightview 2024-V Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 11,138,798 Issued during financial year 18,247,941 Redeemed during financial year (4,011,702)

Total number of Shares in issue at end of financial year 14,261,239

ANIMA Brightview 2025-I1 Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 24,887,151 Redeemed during financial year (238,482)

Total number of Shares in issue at end of financial year 24,648,669

1This Fund launched during the financial year ended 31 December 2019.

ANIMA Brightview 2027-I1 Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 16,034,135 Redeemed during financial year (3,780,142)

ANIMA Funds Plc 468 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Brightview 2027-I1 Year ended 31 December 2019 Class I Total number of Shares in issue at end of financial year 12,253,993

1This Fund launched during the financial year ended 31 December 2019.

ANIMA Brightview-II1 Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 6,504,794 Redeemed during financial year -

Total number of Shares in issue at end of financial year 6,504,794

1This Fund launched during the financial year ended 31 December 2019.

ANIMA Brightview-III1 Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 6,232,826 Redeemed during financial year -

Total number of Shares in issue at end of financial year 6,232,826

1This Fund launched during the financial year ended 31 December 2019.

ANIMA Brightview-IV1 Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year - Issued during financial year 25,000 Redeemed during financial year -

Total number of Shares in issue at end of financial year 25,000

1This Fund launched during the financial year ended 31 December 2019.

ANIMA Orizzonte Europa 2022 Year ended 31 December 2019 Class Silver Number of Shares in issue at beginning of financial year 7,693,134 Issued during financial year -

ANIMA Funds Plc 469 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Orizzonte Europa 2022 Year ended 31 December 2019 Class Silver Redeemed during financial year (281,872)

Total number of Shares in issue at end of financial year 7,411,262

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato Year ended 31 December 2019 Class Silver Number of Shares in issue at beginning of financial year 8,235,089 Issued during financial year - Redeemed during financial year (296,505)

Total number of Shares in issue at end of financial year 7,938,584

ANIMA Orizzonte Sostenibile 2023 Year ended 31 December 2019 Class Silver Number of Shares in issue at beginning of financial year 50,837,936 Issued during financial year - Redeemed during financial year (1,464,500)

Total number of Shares in issue at end of financial year 49,373,436

ANIMA Orizzonte Benessere 2023 Year ended 31 December 2019 Class Silver Number of Shares in issue at beginning of financial year 61,433,249 Issued during financial year - Redeemed during financial year (2,521,015)

Total number of Shares in issue at end of financial year 58,912,234

ANIMA Orizzonte Consumi 2023 Year ended 31 December 2019 Class Silver Number of Shares in issue at beginning of financial year 6,128,559 Issued during financial year - Redeemed during financial year (964,184)

Total number of Shares in issue at end of financial year 5,164,375

ANIMA Funds Plc 470 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

ANIMA Orizzonte Energia 2023 Year ended 31 December 2019 Class Silver Number of Shares in issue at beginning of financial year 28,215,240 Issued during financial year - Redeemed during financial year (5,996,684)

Total number of Shares in issue at end of financial year 22,218,556

ANIMA Defensive Year ended 31 December 2019 Class Silver Number of Shares in issue at beginning of financial year 9,254,608 Issued during financial year 11,236,981 Redeemed during financial year (4,743,607)

Total number of Shares in issue at end of financial year 15,747,982

ANIMA Zephyr Global Year ended 31 December 2019 Class Class I Number of Shares in issue at beginning of financial year 9,848,295 Issued during financial year - Redeemed during financial year (900,291)

Total number of Shares in issue at end of financial year 8,948,004

ANIMA Zephyr Real Assets Year ended 31 December 2019 Class I Number of Shares in issue at beginning of financial year 5,616,075 Issued during financial year - Redeemed during financial year (419,747)

Total number of Shares in issue at end of financial year 5,196,328

ANIMA International Bond Year ended 31 December 2019 Class Class I Number of Shares in issue at beginning of financial year 4,080,000 Issued during financial year - Redeemed during financial year (747,123)

Total number of Shares in issue at end of financial year 3,332,877

ANIMA Funds Plc 471 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

11. Share Capital (continued)

Shares in Issue (continued)

As a result of the ability to issue, repurchase and resell shares, the capital of a Fund can vary depending on the demand for redemptions and subscriptions to the Fund. The Funds are not subject to externally imposed capital requirements and have no restrictions on the issue, repurchase or resale of redeemable shares.

12. Net Asset Value ANIMA Liquidity As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class A 39,869,889 6.1762 49,102,390 6.2255 67,272,295 6.2733 Share Class I 596,900,344 5.5675 330,809,160 5.6007 362,642,554 5.6292 Share Class Prestige 1,051,774 4.8963 740,948 4.9365 256,751 4.9724 Share Class Silver 24,327,065 5.2332 31,494,331 5.2819 46,514,502 5.3300 ANIMA Short Term Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 317,873,885 5.5753 135,776,089 5.6002 152,761,871 5.6078 Share Class Prestige 8,245,224 6.0281 9,596,993 6.0734 11,972,258 6.1013 Share Class Silver 2,351,601 5.4606 1,829,941 5.5083 1,331,718 5.5471 ANIMA Medium Term Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 344,893,030 7.9419 289,500,779 7.6308 364,728,832 7.1971 Share Class Prestige 68,353,880 10.2273 102,402,100 9.8720 116,105,443 9.3531 Share Class Silver 6,878,486 7.4702 6,725,906 7.2382 5,254,839 6.8836 ANIMA Bond Dollar As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 256,946,656 7.5217 166,586,597 7.6035 120,248,406 7.0480 Share Class Prestige 1,896,829 7.2482 2,019,915 7.3640 2,180,718 6.8597 Share Class Silver 5,715,867 7.2282 3,266,047 7.3687 4,379,341 6.8885 ANIMA Global Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 144,333,326 6.9543 159,379,844 6.9910 64,633,362 6.5830 Share Class Prestige 1,352,771 7.8551 1,215,041 7.9253 1,108,598 7.4886 Share Class Silver 10,488,239 6.6874 9,687,136 6.7728 10,557,284 6.4235

ANIMA Life Bond1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class Silver - - 244,464,950 4.9638 241,451,814 4.9027

1Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA Funds Plc 472 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

ANIMA Short Term Corporate Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 382,950,638 5.7216 383,975,582 5.6961 293,598,926 5.6074 Share Class Silver 22,152,479 4.9094 24,354,093 4.9203 28,717,369 4.8801 ANIMA Europe Equity As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 269,382,166 13.5800 262,814,001 13.3921 380,569,982 11.0901 Share Class Prestige 57,562,884 9.6202 78,671,907 9.5864 85,334,407 8.0211 Share Class Silver 10,483,432 8.1005 13,504,413 8.1149 14,160,141 6.8318 ANIMA U.S. Equity As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 337,496,833 24.7750 250,320,982 21.5061 189,032,398 16.4999 Share Class Prestige 5,482,447 18.5835 6,723,621 16.2944 4,132,565 12.6269 Share Class Silver 5,198,181 13.9289 6,089,955 12.2726 6,334,787 9.5692 ANIMA Asia/Pacific Equity As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 58,977,713 14.8390 55,371,225 14.5751 48,204,460 12.0918 Share Class Prestige 819,080 16.2026 953,195 16.0751 683,073 13.4719 Share Class Silver 2,601,425 9.7641 2,798,315 9.7352 2,230,029 8.2080

ANIMA Global Equity Value1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 13,930,739 13.0014 24,336,145 13.8887 19,591,543 11.2642 Share Class Prestige 1,721,765 8.9755 2,125,743 9.6865 2,151,296 7.9367 Share Class Silver 15,637,371 9.6172 19,374,002 10.4343 17,100,735 8.6025

1ANIMA Global Equity changed name to ANIMA Global Equity Value during financial year ended 31 December 2020 ANIMA Emerging Markets Equity As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 32,586,846 7.6775 28,376,060 6.9456 31,870,442 5.8694 Share Class Prestige 1,286,417 7.2541 1,512,917 6.6296 1,078,608 5.6594 Share Class Silver 13,189,391 6.8130 14,706,130 6.2586 12,941,516 5.3756

ANIMA Global Selection1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 10,205,262 5.1026 - - - - Share Class Prestige 1,020 5.1016 - - - -

ANIMA Funds Plc 473 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. ANIMA Euro Equity As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 109,751,698 8.6452 98,141,141 8.7463 114,631,797 7.1582 ANIMA Global Currencies As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 3,449,726 4.3588 5,208,639 4.5069 5,165,914 4.4499 Share Class Prestige 1,416,530 4.0999 1,822,158 4.2723 2,709,577 4.2512 ANIMA Variable Rate Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 23,667,145 5.1913 26,702,702 5.1279 36,133,655 4.9307 ANIMA Hybrid Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 101,039,874 6.0983 87,021,000 5.9807 32,284,548 5.3950 ANIMA Euro Government Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 162,062,435 5.6117 244,625,927 5.3560 275,995,518 5.1434 ANIMA Star High Potential Europe As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class A 62,171,644 5.9019 57,026,753 5.1160 45,972,529 4.9203 Share Classic A 1,975,567 6.2414 2,319,558 5.5463 21,242,828 5.4563 Share Classic B 41,433,791 5.5081 52,219,091 4.8714 85,356,018 4.7284 Share Class I 710,537,323 8.7756 497,984,715 7.7141 410,397,575 7.3968 Share Class Prestige 16,056,809 9.5740 15,278,582 8.4577 22,862,676 8.1796 Share Class Silver 41,568,169 6.8629 32,897,415 6.0644 47,045,223 5.8863

ANIMA Funds Plc 474 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

ANIMA Star Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Classic A 63,663 4.3394 604,589 4.6294 2,370,189 4.6648 Share Classic B 1,052,552 4.2935 1,476,613 4.5539 2,056,662 4.5786 Share Class I Dis 36,728,960 4.5861 38,437,485 4.7995 38,183,457 4.7677 Share Class I 216,928,082 5.0848 202,807,334 5.3213 290,944,868 5.2861 Share Class Prestige 3,065,809 4.9352 4,564,328 5.2024 6,315,440 5.1991 Share Class Silver 6,229,610 4.8424 10,168,372 5.1147 19,104,297 5.1262 ANIMA Smart Volatility Europe As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 12,011,536 5.3170 14,925,632 5.5638 20,321,798 4.9423 ANIMA Smart Volatility Global As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 153,966,039 5.8249 118,273,272 5.7309 47,978,116 5.2147 ANIMA Smart Volatility Italy As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 13,857,126 5.4656 16,921,319 5.5601 26,412,614 4.8861 ANIMA Smart Volatility USA As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 77,970,336 5.3531 45,546,597 5.1456 10,161,501 4.6523 ANIMA Smart Volatility Emerging Markets As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 104,498,471 5.1830 13,992,632 5.1715 - - ANIMA Credit Opportunities As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 372,326,274 5.0769 311,789,999 4.9939 153,035,505 4.7409

ANIMA Funds Plc 475 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

ANIMA Star High Potential Italy As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Classic A 23,478 4.2373 168,505 4.5703 3,538,814 4.4819 Share Classic B 2,768,106 4.4725 4,586,375 4.6752 7,164,531 4.5106 Share Class I 13,640,456 5.0702 26,526,533 5.2334 35,146,345 4.9905 Share Class Prestige 381,461 4.8533 614,945 5.0556 591,629 4.8639 Share Class Silver 1,051,770 4.6811 1,435,027 4.8881 1,762,849 4.7167

ANIMA Trading Fund1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Classic A 2,264,284 5.1215 2,152,647 4.6825 3,167,466 4.5882 Share Classic B 1,162,090 5.5317 1,619,064 4.9981 2,276,379 4.8433 Share Class I 93,014,338 5.8366 43,059,948 5.2398 66,335,963 5.0289 Share Class Prestige 87,067 5.2112 182,870 4.7213 213,934 4.5919 Share Class Silver 1,258,118 5.3521 1,453,815 4.8564 2,359,104 4.7372

1Please refer to note 22 to the financial statements for details of Fund terminations during the financial year. ANIMA Active Selection As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 19,188,669 5.4509 22,883,985 5.7322 23,893,608 5.0475 ANIMA Smart Dividends Europe As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 13,095,843 5.0006 15,855,836 5.2983 14,502,652 4.6979 ANIMA Flexible Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 43,071,977 5.0338 71,821,148 5.0355 10,046,612 4.9983 Share Class Prestige 4,972 4.9723 5,003 5.0026 4,996 4.9960 Share Class Silver 4,954 4.9540 4,991 4.9908 4,995 4.9950

ANIMA Flexible Income1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I - - 35,774,689 4.8739 44,862,884 4.8152

1Please refer to note 22 to the financial statements for details of Fund terminations during the financial year.

ANIMA Infrastructure1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I - - 106,501,923 4.9762 84,441,885 4.8960

ANIMA Funds Plc 476 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

1Please refer to note 22 to the financial statements for details of Fund terminations during the financial year. ANIMA Solution 2022-I As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 31,716,922 1.0628 38,883,669 1.0944 45,535,869 1.0385 ANIMA Solution 2022-II As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 15,382,953 1.1420 21,997,490 1.1791 40,960,767 1.0734 ANIMA Solution 2022-III As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 22,642,023 1.0374 28,983,926 1.0972 30,267,571 1.0025 ANIMA Solution 2023-I As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 37,603,383 0.9328 43,904,603 0.9933 43,821,705 0.9118 ANIMA Solution EM As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 31,265,072 4.7224 35,769,050 4.9846 34,265,852 4.5374 ANIMA Italian Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 23,091 5.2203 11,712 4.9901 88,668 4.7585 Share Class Silver 32,498,589 5.0086 34,220,131 4.8319 39,660,592 4.6527 ANIMA Italian Equity As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 9,506,032 6.7651 14,279,143 6.9287 11,134,602 5.1836 Share Class Silver 6,256,274 7.9209 7,012,938 8.2070 7,826,313 6.2149

ANIMA Funds Plc 477 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

ANIMA High Yield Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 20,090,459 5.2326 12,811,428 5.1253 10,850,436 4.5595 ANIMA Bond 2022 Opportunities As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 48,494,099 5.1674 48,015,451 5.1164 45,960,583 4.8974 ANIMA Global Macro As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Classic A 1,572,397 5.0733 553,784 4.9115 25,341 4.5406 Share Classic B - - 46,621 5.2847 - - Share Class I 211,724,565 5.3448 139,591,582 5.0882 83,725,262 4.5973 ANIMA Brightview 2023-I As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 27,370,182 9.6489 30,219,737 9.7650 31,786,855 9.6131 ANIMA Brightview 2023-II As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 122,717,460 10.3701 154,738,189 10.1894 155,641,595 9.4571 ANIMA Brightview 2023-III As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 38,759,390 10.5633 52,196,532 10.4786 54,253,052 9.4577 ANIMA Brightview 2023-IV As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 52,839,394 10.2731 60,590,956 10.0758 59,683,381 9.2716 ANIMA Brightview 2024-I As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 69,025,153 10.2900 74,464,974 10.2190 70,566,639 9.1423

ANIMA Funds Plc 478 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

ANIMA Brightview 2024-II As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 87,569,364 10.2316 93,485,886 10.1661 89,928,534 9.2827 ANIMA Brightview 2024-III As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 97,569,487 10.6022 112,361,959 10.2927 111,464,356 9.4365 ANIMA Brightview 2024-IV As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 100,136,664 10.4168 117,386,911 10.5386 129,745,647 9.9251 ANIMA Brightview 2024-V As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 124,011,059 11.8242 164,792,267 11.5553 260,660 10.4264 ANIMA Brightview 2025-I As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 243,560,760 10.6584 261,092,201 10.5925 - - ANIMA Brightview 2027-I As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 104,000,098 11.7162 136,048,735 11.1024 - - ANIMA Brightview-II As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 64,168,062 10.2134 65,683,114 10.0976 - - ANIMA Brightview-III As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 62,367,118 10.3711 62,963,862 10.1020 - - ANIMA Brightview-IV As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 77,922,559 10.3204 249,762 9.9905 - -

ANIMA Funds Plc 479 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

ANIMA Brightview-V1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 38,031,676 10.2703 - - - -

ANIMA Brightview-VI1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 208,157,993 10.5078 - - - -

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Brightview-VII1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 96,822,992 10.3471 - - - -

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details.

ANIMA Brightview-VIII1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 249,719 9.9888 - - - -

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. ANIMA Orizzonte Europa 2022 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class Silver 31,839,235 4.6397 35,376,563 4.7734 35,436,535 4.6063 ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class Silver 35,008,611 4.6666 38,360,619 4.8322 37,510,653 4.5550 ANIMA Orizzonte Sostenibile 2023 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class Silver 217,876,434 4.6535 235,096,997 4.7616 219,261,787 4.3130 ANIMA Orizzonte Benessere 2023 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class Silver 272,184,393 5.0796 304,600,595 5.1704 289,759,299 4.7167

ANIMA Funds Plc 480 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

12. Net Asset Value (continued)

ANIMA Orizzonte Consumi 2023 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class Silver 22,378,830 5.2414 27,605,199 5.3453 30,433,710 4.9659 ANIMA Orizzonte Energia 2023 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class Silver 78,611,716 5.5509 119,914,059 5.3970 140,917,415 4.9944 ANIMA Defensive As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class Silver 51,185,998 5.1999 80,190,165 5.0921 46,105,555 4.9819 ANIMA Zephyr Global As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 43,718,575 5.1929 46,227,391 5.1662 45,657,739 4.6361 ANIMA Zephyr Global Allocation As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 57,452,055 5.1955 60,394,159 5.1284 - -

ANIMA Zephyr New1 As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 21,457,264 5.2359 - - - -

1This Fund launched during the financial year therefore there are no comparatives, see note 22 for further details. ANIMA Zephyr Real Assets As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 25,375,418 5.2476 27,383,086 5.2697 28,228,502 5.0264 ANIMA International Bond As at 31 December 2020 As at 31 December 2019 As at 31 December 2018 Net Asset Net Asset Net Asset Net Asset Net Asset Net Asset Value Value Per Share Value Value Per Share Value Value Per Share EUR EUR EUR EUR EUR EUR Share Class I 31,780,328 5.2335 17,690,200 5.3078 20,493,631 5.0229

13. Securities Lending

On 23 March 2016, a stock lending agency agreement was signed between the Company, ANIMA Asset Management Limited (the “Stock Lending Agent”) and State Street Custodial Services (Ireland) Limited (the “Depositary”). On the same date, a stock lending sub-agency agreement was signed between the Stock Lending Agent, the Depositary, State Street GMBH London Branch (the “Stock Lending Sub-Agent”) and State Street Bank and Trust Company. On the basis of

ANIMA Funds Plc 481 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

13. Securities Lending (continued)

economic agreements between the parties, the Company will receive 70% of the securities lending income and the remaining 30% will be received by the Stock Lending Agent and its Sub-Agent.

The tables below provides details of the Funds which engaged in securities lending activities during the financial year.

ANIMA Funds Plc 482 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

13. Securities Lending (continued)

Total Company ANIMA ANIMA Star High ANIMA Trading ANIMA Smart ANIMA As at Europe Equity ANIMA Euro Equity Potential Europe Fund Dividends Europe Italian Equity 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 31 December 2020 year ended year ended year ended year ended year ended year ended year ended EUR EUR EUR EUR EUR EUR EUR Income earned during the year 106,763 31,952 6,733 66,538 1,540 - -

Value of securities on loan at year end ------

Value of non cash collateral held by the Fund at the year end in respect of securities on loan ------

Total Company ANIMA ANIMA Star High ANIMA Star High ANIMA Smart ANIMA As at Europe Equity ANIMA Euro Equity Potential Europe Potential Global Dividends Europe Italian Equity 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 31 December 2019 year ended year ended year ended year ended year ended year ended year ended EUR EUR EUR EUR EUR EUR EUR Income earned during the year 104,138 65,825 4,388 32,764 - 595 566

Value of securities on loan at year end ------

Value of non cash collateral held by the Fund at the year end in respect of securities on loan ------NM ud Plc Funds ANIMA 483 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020

14. Fees

Each Fund pays to the Manager a fee at an annual rate as set out below:

Fund Amount per Annum ANIMA Liquidity - Share Class A* 0.40% of NAV ANIMA Liquidity - Share Class I* 0.20% of NAV ANIMA Liquidity - Share Class Prestige* 0.40% of NAV ANIMA Liquidity - Share Class Silver* 0.40% of NAV ANIMA Short Term Bond - Share Class I* 0.30% of NAV ANIMA Short Term Bond - Share Class Prestige* 0.60% of NAV ANIMA Short Term Bond - Share Class Silver* 0.60% of NAV ANIMA Medium Term Bond - Share Class I* 0.36% of NAV ANIMA Medium Term Bond - Share Class Prestige* 0.82% of NAV ANIMA Medium Term Bond - Share Class Silver 1.20% of NAV ANIMA Bond Dollar - Share Class I* 0.36% of NAV ANIMA Bond Dollar - Share Class Prestige* 0.85% of NAV ANIMA Bond Dollar - Share Class Silver 1.20% of NAV ANIMA Global Bond - Share Class I* 0.50% of NAV ANIMA Global Bond - Share Class Prestige* 0.85% of NAV ANIMA Global Bond - Share Class Silver 1.20% of NAV ANIMA Life Bond - Share Class Silver 1.10% of NAV ANIMA Short Term Corporate Bond - Share Class I 0.70% of NAV ANIMA Short Term Corporate Bond - Share Class Silver 1.40% of NAV ANIMA Europe Equity - Share Class I* 0.86% of NAV ANIMA Europe Equity - Share Class Prestige* 1.90% of NAV ANIMA Europe Equity - Share Class Silver* 2.25% of NAV ANIMA U.S. Equity - Share Class I* 0.90% of NAV ANIMA U.S. Equity - Share Class Prestige* 1.90% of NAV ANIMA U.S. Equity - Share Class Silver* 2.25% of NAV ANIMA Asia/Pacific Equity - Share Class I* 0.90% of NAV ANIMA Asia/Pacific Equity - Share Class Prestige* 1.90% of NAV ANIMA Asia/Pacific Equity - Share Class Silver* 2.25% of NAV ANIMA Global Equity Value - Share Class I* 0.90% of NAV ANIMA Global Equity Value - Share Class Prestige* 1.90% of NAV ANIMA Global Equity Value - Share Class Silver* 2.25% of NAV ANIMA Emerging Markets Equity - Share Class I* 0.90% of NAV ANIMA Emerging Markets Equity - Share Class Prestige* 1.90% of NAV ANIMA Emerging Markets Equity - Share Class Silver* 2.25% of NAV ANIMA Euro Equity - Share Class I 0.90% of NAV ANIMA Global Currencies - Share Class I* 0.63% of NAV ANIMA Global Currencies - Share Class Prestige* 1.40% of NAV ANIMA Variable Rate Bond - Share Class I 0.36% of NAV ANIMA Hybrid Bond - Share Class I 0.60% of NAV ANIMA Euro Government Bond - Share Class I 0.40% of NAV ANIMA Star High Potential Europe - Share Class A* 0.90% of NAV ANIMA Star High Potential Europe - Share Classic A* 1.80% of NAV ANIMA Star High Potential Europe - Share Classic B* 1.80% of NAV ANIMA Star High Potential Europe - Share Class I* 0.60% of NAV ANIMA Star High Potential Europe - Share Class Prestige* 1.45% of NAV ANIMA Star High Potential Europe - Share Class Silver* 1.60% of NAV ANIMA Star Bond - Share Classic A* 1.80% of NAV ANIMA Star Bond - Share Classic B 1.80% of NAV ANIMA Star Bond - Share Class I Dis* 0.50% of NAV ANIMA Star Bond - Share Class I* 0.50% of NAV ANIMA Star Bond - Share Class Prestige* 1.20% of NAV ANIMA Star Bond - Share Class Silver* 1.25% of NAV ANIMA Smart Volatility Europe - Share Class I 0.45% of NAV ANIMA Smart Volatility Global - Share Class I* 0.45% of NAV ANIMA Smart Volatility Italy - Share Class I 0.45% of NAV ANIMA Smart Volatility USA - Share Class I 0.45% of NAV ANIMA Smart Volatility Emerging Markets - Share Class I 0.45% of NAV ANIMA Credit Opportunities - Share Class I 0.39% of NAV

ANIMA Funds Plc 484 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

14. Fees (continued)

Fund Amount per Annum ANIMA Star High Potential Italy - Share Classic A* 1.80% of NAV ANIMA Star High Potential Italy - Share Classic B* 1.80% of NAV ANIMA Star High Potential Italy - Share Class I* 0.60% of NAV ANIMA Star High Potential Italy - Share Class Prestige* 1.45% of NAV ANIMA Star High Potential Italy - Share Class Silver* 1.60% of NAV ANIMA Trading Fund - Share Classic A* 1.80% of NAV ANIMA Trading Fund - Share Classic B* 1.80% of NAV ANIMA Trading Fund - Share Class I* 0.86% of NAV ANIMA Trading Fund - Share Class Prestige* 2.10% of NAV ANIMA Trading Fund - Share Class Silver* 2.00% of NAV ANIMA Active Selection - Share Class I* up to 0.60% of NAV ANIMA Smart Dividends Europe - Share Class I 0.45% of NAV ANIMA Flexible Bond - Share Class I 0.50% of NAV ANIMA Flexible Bond - Share Class Prestige 1.20% of NAV ANIMA Flexible Bond - Share Class Silver 1.25% of NAV ANIMA Flexible Income - Share Class I 0.60% of NAV ANIMA Infrastructure - Share Class I 0.60% of NAV ANIMA Solution 2022-I - Share Class I* up to 0.25% of NAV ANIMA Solution 2022-II - Share Class I* up to 0.25% of NAV ANIMA Solution 2022-III - Share Class I* up to 0.25% of NAV ANIMA Solution 2023-I - Share Class I* up to 0.25% of NAV ANIMA Solution EM - Share Class I* up to 0.25% of NAV ANIMA Italian Bond - Share Class I 0.30% of NAV ANIMA Italian Bond - Share Class Silver 1.20% of NAV ANIMA Italian Equity - Share Class I* 0.85% of NAV ANIMA Italian Equity - Share Class Silver* 2.00% of NAV ANIMA High Yield Bond - Share Class I 0.70% of NAV ANIMA Bond 2022 Opportunities - Share Class I 0.30% of NAV ANIMA Global Macro - Share Classic A* 1.80% of NAV ANIMA Global Macro - Share Class I* 0.60% of NAV ANIMA Brightview 2023-I - Share Class I* up to 0.25% of NAV ANIMA Brightview 2023-II - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2023-III - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2023-IV - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2024-I - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2024-II - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2024-III - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2024-IV - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2024-V - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2025-I - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview 2027-I - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview-II - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview-III - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Brightview-IV - Share Class I* up to 0.25% of the notional value of the Fund ANIMA Orizzonte Europa 2022 - Share Class Silver up to 1.25% of the notional value of the Fund ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato - Share Class Silver up to 1.25% of the notional value of the Fund ANIMA Orizzonte Sostenibile 2023 - Share Class Silver* up to 1.25% of the notional value of the Fund ANIMA Orizzonte Benessere 2023 - Share Class Silver* up to 1.25% of the notional value of the Fund ANIMA Orizzonte Consumi 2023 - Share Class Silver* up to 1.25% of the notional value of the Fund ANIMA Orizzonte Energia 2023 - Share Class Silver* up to 1.25% of the notional value of the Fund ANIMA Defensive - Share Class Silver* up to 1.50% of NAV ANIMA Zephyr Global - Share Class I* up to 0.30% of NAV ANIMA Zephyr Global Allocation - Share Class I* up to 0.30% of NAV ANIMA Zephyr Real Assets - Share Class I* up to 0.30% of NAV ANIMA International Bond - Share Class I 0.60% of NAV *Fee changed during the financial year ended 31 December 2020.

ANIMA Funds Plc 485 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

14. Fees (continued)

The Investment Management Fee is accrued on a daily basis. The Fee is calculated each Dealing Day and the cumulative figure is paid weekly. The following Solutions Funds Investment Management Fees are paid on a quarterly basis;

ANIMA Brightview 2023-I ANIMA Brightview 2024-IV ANIMA Brightview 2023-II ANIMA Brightview 2024-V ANIMA Brightview 2023-III ANIMA Brightview 2025-I ANIMA Brightview 2023-IV ANIMA Brightview 2027-I ANIMA Brightview 2024-I ANIMA Brightview-II ANIMA Brightview 2024-II ANIMA Brightview-III ANIMA Brightview 2024-III ANIMA Brightview-IV

The notional value of the Fund is the number of shares outstanding multiplied the Initial Offer price (i.e. original issue price) as defined in the relevant Fund Information Card.

Incentive Fee

In addition to an annual Management Fee, the Manager is also entitled to receive an incentive fee from certain Funds. Some or all of the incentive fee were paid by the Company to the Manager. The fee applies to:

ANIMA Short Term Corporate Bond ANIMA Trading Fund ANIMA Euro Equity ANIMA Active Selection ANIMA Variable Rate Bond ANIMA Smart Dividends Europe ANIMA Hybrid Bond ANIMA Flexible Bond ANIMA Euro Government Bond ANIMA Flexible Income ANIMA Star High Potential Europe ANIMA Infrastructure ANIMA Star Bond ANIMA Global Macro ANIMA Smart Volatility Europe ANIMA Orizzonte Sostenibile 2023 ANIMA Smart Volatility Global ANIMA Orizzonte Benessere 2023 ANIMA Smart Volatility Italy ANIMA Orizzonte Energia 2023 ANIMA Smart Volatility USA ANIMA Orizzonte Consumi 2023 ANIMA Star High Potential Italy ANIMA International Bond ANIMA Smart Volatility Emerging Markets

Further details of how the fees are calculated are outlined in the Prospectus of the Funds.

On 27 November 2020, the Prospectus was updated in light of S.I. No. 230 of 2019, issued by CBI on performance fee.

Distribution Fee

Some of the Funds pay a distribution fee. The applicable distribution fee rates are as follows:

ANIMA Star High Potential Europe - Share Classic A - 1.20% per annum ANIMA Star Bond - Share Classic A - 0.20% per annum ANIMA Star High Potential Italy - Share Classic A - 1.20% per annum ANIMA Star High Potential Global - Share Classic A - 1.20% per annum ANIMA Global Macro – Share Classic A – 1.20% per annum ANIMA Orizzonte Europa 2022 - Share Class Silver - 0.6364% per annum ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato - Share Class Silver - 0.6364% per annum ANIMA Orizzonte Sostenibile 2023 - Share Class Silver - 0.70% per annum ANIMA Orizzonte Benessere 2023 – Share Class Silver – 0.70% per annum ANIMA Orizzonte Consumi 2023 - Share Class Silver - 0.70% per annum ANIMA Orizzonte Energia 2023 - Share Class Silver - 0.70% per annum

Management Company Fees

In addition to an annual Investment Management Fee, the Manager is also entitled to receive an annual Management Company Fee from all Funds of the Company at an annual rate equal to 0.02% of NAV.

ANIMA Funds Plc 486 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

14. Fees (continued)

Administration, Depositary and Transfer Agency Fees

The “All In” Fee structure for Administration, Depositary and Transfer Agency for each Fund is as follows:

ANIMA Liquidity 0.04% of NAV (4 basis points) ANIMA Short Term Bond 0.06% of NAV (6 basis points) ANIMA Medium Term Bond 0.06% of NAV (6 basis points) ANIMA Bond Dollar 0.06% of NAV (6 basis points) ANIMA Global Bond 0.06% of NAV (6 basis points) ANIMA Life Bond 0.08% of NAV (8 basis points) ANIMA Short Term Corporate Bond 0.07% of NAV (7 basis points) ANIMA Europe Equity 0.08% of NAV (8 basis points) ANIMA U.S. Equity 0.08% of NAV (8 basis points) ANIMA Asia/Pacific Equity 0.08% of NAV (8 basis points) ANIMA Global Equity Value 0.08% of NAV (8 basis points) ANIMA Emerging Markets Equity 0.10% of NAV (10 basis points) ANIMA Euro Equity 0.08% of NAV (8 basis points) ANIMA Global Currencies 0.06% of NAV (6 basis points) ANIMA Variable Rate Bond 0.06% of NAV (6 basis points) ANIMA Hybrid Bond 0.06% of NAV (6 basis points) ANIMA Euro Government Bond 0.06% of NAV (6 basis points) ANIMA Star High Potential Europe 0.08% of NAV (8 basis points) ANIMA Star Bond 0.06% of NAV (6 basis points) ANIMA Smart Volatility Europe 0.08% of NAV (8 basis points) ANIMA Smart Volatility Global 0.08% of NAV (8 basis points) ANIMA Smart Volatility Italy 0.08% of NAV (8 basis points) ANIMA Smart Volatility USA 0.08% of NAV (8 basis points) ANIMA Smart Volatility Emerging Markets 0.08% of NAV (8 basis points) ANIMA Credit Opportunities 0.05% of NAV (5 basis points) ANIMA Star High Potential Italy 0.08% of NAV (8 basis points) ANIMA Trading Fund 0.08% of NAV (8 basis points) ANIMA Active Selection 0.02% of NAV (2 basis points) ANIMA Smart Dividends Europe 0.08% of NAV (8 basis points) ANIMA Flexible Bond 0.06% of NAV (6 basis points) ANIMA Flexible Income 0.06% of NAV (6 basis points) ANIMA Solution 2022-I 0.05% of NAV (5 basis points) ANIMA Solution 2022-II 0.05% of NAV (5 basis points) ANIMA Solution 2022-III 0.05% of NAV (5 basis points) ANIMA Solution 2023-I 0.05% of NAV (5 basis points) ANIMA Solution EM 0.05% of NAV (5 basis points) ANIMA Italian Bond 0.06% of NAV (6 basis points) ANIMA Italian Equity 0.08% of NAV (8 basis points) ANIMA High Yield Bond 0.06% of NAV (6 basis points) ANIMA Bond 2022 Opportunities 0.06% of NAV (6 basis points) ANIMA Global Macro 0.08% of NAV (8 basis points) ANIMA Brightview 2023-I 0.07% of NAV (7 basis points) ANIMA Brightview 2023-II 0.07% of NAV (7 basis points) ANIMA Brightview 2023-III 0.07% of NAV (7 basis points) ANIMA Brightview 2023-IV 0.07% of NAV (7 basis points) ANIMA Brightview 2024-I 0.07% of NAV (7 basis points) ANIMA Brightview 2024-II 0.07% of NAV (7 basis points) ANIMA Brightview 2024-III 0.07% of NAV (7 basis points) ANIMA Brightview 2024-IV 0.07% of NAV (7 basis points) ANIMA Brightview 2024-V 0.07% of NAV (7 basis points) ANIMA Brightview 2025-I 0.07% of NAV (7 basis points) ANIMA Brightview 2027-I 0.07% of NAV (7 basis points) ANIMA Brightview-II 0.06% of NAV (6 basis points) ANIMA Brightview-III 0.06% of NAV (6 basis points) ANIMA Brightview-IV 0.06% of NAV (6 basis points) ANIMA Orizzonte Europa 2022 0.08% of NAV (8 basis points)

ANIMA Funds Plc 487 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

14. Fees (continued)

Administration, Depositary and Transfer Agency Fees (continued)

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato 0.08% of NAV (8 basis points) ANIMA Orizzonte Sostenibile 2023 0.08% of NAV (8 basis points) ANIMA Orizzonte Benessere 2023 0.08% of NAV (8 basis points) ANIMA Orizzonte Consumi 2023 0.08% of NAV (8 basis points) ANIMA Orizzonte Energia 2023 0.08% of NAV (8 basis points) ANIMA Defensive 0.05% of NAV (5 basis points) ANIMA Zephyr Global 0.07% of NAV (7 basis points) ANIMA Zephyr Global Allocation 0.07% of NAV (7 basis points) ANIMA Zephyr Real Assets 0.07% of NAV (7 basis points) ANIMA International Bond 0.06% of NAV (6 basis points)

Transaction Costs

Transaction costs are defined as the incremental costs that are directly attributable to the acquisition, issue or disposal of a financial asset or financial liability. An incremental cost is one that would not have been incurred if the entity had not acquired, issued or disposed of the financial instrument. When a financial asset or financial liability is recognised initially, an entity shall measure it at its fair value through profit or loss plus, transaction costs that are directly attributable to the acquisition or issue of the financial asset or financial liability.

Transaction costs relating to the brokers commission on the purchase and sale of a financial asset or financial liability, are included in its purchase and sale price. Transaction costs of the Depositary are embedded in the Depositary fees in the Statement of Comprehensive Income.

Transaction costs amounted to EUR 6,961,843 (2019: EUR 9,750,855) and includes EUR 3,756,344 (2019: EUR 6,122,712) of commission fees and EUR 3,205,499 (2019: EUR 3,628,143) trade expense fees for the financial year ended 31 December 2020.

In addition to these fees, order routing fees amounting to EUR 612,363 (2019: EUR 794,290) were paid to ANIMA Asset Management Limited.

Financial year Financial year ended ended 31 December 2020 31 December 2019 EUR EUR ANIMA Life Bond 155 - ANIMA Short Term Corporate Bond 199 389 ANIMA Europe Equity 1,620,267 4,477,136 ANIMA U.S. Equity 154,615 124,341 ANIMA Asia/Pacific Equity 38,530 79,783 ANIMA Global Equity 105,377 198,556 ANIMA Emerging Markets Equity 61,354 85,173 ANIMA Global Selection 4,300 - ANIMA Euro Equity 134,982 224,055 ANIMA Euro Government Bond 57 - ANIMA Star High Potential Europe 4,567,591 3,865,349 ANIMA Star Bond 204 - ANIMA Tesoreria Imprese - 553 ANIMA Star High Potential Italy 31,505 75,336 ANIMA Star High Potential Global 156,242 182,337 ANIMA Smart Dividends Europe 23,513 43,595 ANIMA Flexible Bond 367 - ANIMA Flexible Income 41 - ANIMA Infrastructure 33,253 336,391 ANIMA Solution 2022-I - 803 ANIMA Solution 2022-II 31 - ANIMA Solution EM 132 -

ANIMA Funds Plc 488 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

14. Fees (continued)

Transaction Costs (continued)

Financial year Financial year ended ended 31 December 2020 31 December 2019 EUR EUR ANIMA Italian Equity 25,300 42,261 ANIMA Global Macro 1,706 8,051 ANIMA Brightview 2023-I 1,703 4,876 ANIMA Zephyr New 346 - ANIMA Zephyr Real Assets 73 1,870

6,961,843 9,750,885

15. Exchange Rates

The following financial year end exchange rates were used to convert investments, assets and liabilities to the functional currency of the Company: As at As at 31 December 2020 31 December 2019 AUD 1.5856 1.5968 BRL 6.3554 4.5155 CAD 1.5588 1.4556 CHF 1.0816 1.0870 CLP 869.3322 844.0635 COP - 3,683.4821 CZK 26.2620 25.4140 DKK 7.4435 7.4725 GBP 0.8951 0.8473 HKD 9.4872 8.7463 HUF 362.6850 330.7098 IDR 17,190.8762 15,583.0992 ILS 3.9286 3.8771 INR 89.4017 80.1219 JPY 126.3254 121.9876 KRW 1,329.1423 1,298.1145 MXN 24.3798 21.1973 MYR 4.9217 4.5916 NOK 10.4760 9.8637 NZD 1.6994 1.6638 PLN 4.5589 4.2512 RON 4.8675 4.7862 RUB 90.4991 69.7198 SEK 10.0485 10.5078 SGD 1.6171 1.5094 THB 36.6576 33.6231 TRY 9.0940 6.6800 TWD 34.3793 33.6492 USD 1.2235 1.1225

ANIMA Funds Plc 489 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

15. Exchange Rates (continued)

As at As at 31 December 2020 31 December 2019 ZAR 17.9724 15.6965

16. Efficient Portfolio Management

The Company may, on behalf of each Fund, employ (subject to the conditions and within the limits laid down by the Central Bank of Ireland) techniques and instruments relating to transferable securities, provided that such techniques and instruments are used for efficient portfolio management purposes. The Company may also employ techniques and instruments intended to provide protection against exchange risks in the context of the management of its assets and liabilities or for the purposes of:

(a) hedging (b) risk reduction or management (c) performance enhancement such as reduction of cost and/or generation of additional capital or income (d) management of interest, currency and/or exchange risks (e) management of securities prices (f) management of target Funds (g) achieving a foreign exchange exposure different from the underlying securities in order to neutralise active risk against the benchmark (currency overlay) and/or (h) seeking active foreign exchange exposure in order to enhance portfolio performance

The types of instruments which each Fund may use for these purposes are disclosed in Appendix V to the Prospectus. Each Fund may invest in FDIs. The FDIs used by each Fund during the reference period include futures, swaps, forward currency contracts and options. Please refer to the Schedule of Investments of these Funds on pages 489 to 749 to view details of these instruments including the instruments. The names of counterparties are also disclosed in the Schedule of Investments where applicable.

The Company may utilise securities lending agreements and reverse repurchase agreements for efficient portfolio management purposes.

Financial Derivative Instruments

Typically, FDIs serve as components of the Company’s investment strategy and are utilised primarily to structure and economically hedge investments to enhance performance and reduce risk to the Company (the Company does not designate any derivatives as hedges for hedge accounting purposes as described under IAS 39 Financial Instruments: Measurement). The Company records its FDI activities on a mark to market basis. Fair values are determined using counterparty prices. For Over the Counter (“OTC”) FDIs, the Company may enter into master netting agreements with its counterparties, therefore, assets represent the Company’s unrealised gains, less unrealised losses for OTC FDIs in which the Company has a master netting agreement. There is no netting taking place in the Statement of Financial Position on any of the Funds.

The primary difference in the risk associated with OTC FDIs and exchange-traded contracts is counterparty risk. The Company is exposed to counterparty risk from OTC FDIs when two conditions are present; (i) the OTC FDIs have unrealised gains, net of any collateral and (ii) the counterparty to the contracts defaults. The counterparty risk related to exchange-traded FDIs is minimal because the exchange ensures that these FDIs are always honoured. Changes in the value of the FDIs are recognised as gains and losses by marking to market on a daily basis to reflect the value of the FDI at the end of each day’s trading. They are valued at the settlement price established each day on which they are traded, and the Company’s investment therein, representing unrealised gain or loss on such contracts, is included in the Statement of Comprehensive Income within the Net gains/(losses) on financial assets and liabilities and on the Statement of Financial Position within financial assets at fair value through profit or loss and Financial liabilities at fair value through profit or loss.

17. Related Party Transactions

IAS 24 “Related Party Transactions” requires the disclosure of information relating to material transactions with parties who are deemed to be related to the reporting entity.

ANIMA Funds Plc 490 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

17. Related Party Transactions (continued)

In the opinion of the Directors the following entities are required to be disclosed as related parties to the Company as at 31 December 2020:

Order Routing/Stock Lending Agent ANIMA Asset Management Limited (wholly owned by ANIMA SGR S.p.A.) Manager and Distributor ANIMA SGR S.p.A. Legal Advisor Dillon Eustace

Fees earned during the financial year and prior financial year by the Manager are as follows:

Year ended Year ended 31 December 2020 31 December 2019 EUR EUR Fees earned during the financial year are as follows: Investment Management fees 40,935,028 41,661,048 Management Company fees 1,605,101 1,472,419 Performance fees 16,869,251 5,136,303 Distributor fees 59,255 144,795

Year ended Year ended 31 December 2020 31 December 2019 EUR EUR Fees accrued at the year end are as follows: Investment Management fees 3,858,038 3,891,825 Management Company fees 142,438 129,472 Performance fees 5,086,273 713,015 Distributor fees 90,857 93,845

Fees earned during the financial year and prior financial year by ANIMA Asset Management Limited are as follows:

Year ended Year ended 31 December 2020 31 December 2019 EUR EUR Fees earned during the financial year are as follows: Order Routing/trade execution fees 612,363 794,290 Securities Lending fees 32,029 31,241

Year ended Year ended 31 December 2020 31 December 2019 EUR EUR Fees accrued at the year end are as follows: Order Routing/trade execution fees 96,848 54,363

Of the total securities on loan, lending fees have been apportioned as follows: EUR 32,029 (31 December 2019: EUR 31,241) was earned by ANIMA Asset Management Limited (and its Sub-Agent) and EUR 74,734 (31 December 2019: EUR 72,897) was earned by the Company.

The following related parties have shareholdings in the Company:

Shares held Shares held As at Shares purchased Shares sold As at 31 December 2019 during the year during the year 31 December 2020 ANIMA SGR S.p.A. 117,866,153 48,381,919 (27,458,818) 138,789,254

Shares held Shares held As at Shares purchased Shares sold As at 31 December 2018 during the year during the year 31 December 2019 ANIMA SGR S.p.A. 101,414,740 63,402,137 (46,950,724) 117,886,153

ANIMA Funds Plc 491 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

17. Related Party Transactions (continued)

ANIMA Funds Plc invest into a number of Investments Funds managed by ANIMA SGR S.p.A., these Investment Funds are identified and highlighted as a footnote on the individual Fund’s Schedule of Investments.

Rainbow QIF, Private Selection Fund and Multi Solution Fund are related parties to ANIMA Funds Plc as the Directors of the Company are the same as the Directors of the Manager of Rainbow QIF, Private Selection Fund and Multi Solution Fund (ANIMA Asset Management Limited) and ANIMA SGR S.p.A. acts as Investment Manager of Rainbow QIF, Private Selection Fund and Multi Solution Fund. Rainbow QIF, Private Selection Fund and Multi Solution Fund also hold shares in the Company.

The Rainbow Active Fund and Rainbow Fund Solution 2021-I sub funds of Rainbow QIF, a collective investment schemes, domiciled in Ireland and managed by ANIMA Asset Management Limited, have shareholdings in the following ANIMA Funds:

Shares held Shares held As at Shares purchased Shares sold As at Rainbow Active Fund 31 December 2019 during the year during the year 31 December 2020 ANIMA Short Term Bond 769,465 466,031 (1,235,496) - ANIMA Medium Term Bond 366,490 183,850 (276,548) 273,792 ANIMA Bond Dollar 223,900 142,110 (366,010) - ANIMA Global Bond 367,770 265,307 (222,855) 410,222 ANIMA Short Term Corporate Bond 524,451 316,827 (506,797) 334,481 ANIMA Europe Equity 400,781 135,995 (397,264) 139,512 ANIMA U.S. Equity 296,814 90,015 (315,696) 71,133 ANIMA Star High Potential Europe 273,174 210,871 (188,423) 295,622 ANIMA Star Bond 214,917 - (91,807) 123,110 ANIMA Star High Potential Italy 237,152 228,185 (465,337) - ANIMA Trading Fund 191,232 157,024 (348,256) - ANIMA Smart Volatility Global 227,108 147,599 (91,144) 283,563 ANIMA Global Equity Value 383,420 268,639 (500,907) 151,152 ANIMA High Yield Bond - 199,235 - 199,235 ANIMA Italian Equity - 65,603 - 65,603 ANIMA Hybrid Bond - 152,574 - 152,574 ANIMA Flexible Bond - 180,874 - 180,874 Rainbow Solution 2021-I ANIMA Europe Equity 406,322 17,232 (271,931) 151,623

Shares held Shares held As at Shares purchased Shares sold As at Rainbow Active Fund 31 December 2018 during the year during the year 31 December 2019 ANIMA Short Term Bond 1,543,562 194,591 (968,688) 769,465 ANIMA Medium Term Bond 1,021,150 - (654,660) 366,490 ANIMA Bond Dollar 513,745 - (289,845) 223,900 ANIMA Global Bond 1,015,923 109,536 (757,689) 367,770 ANIMA Short Term Corporate Bond 1,057,876 - (533,425) 524,451 ANIMA Europe Equity 533,362 219,262 (351,843) 400,781 ANIMA U.S. Equity 393,043 257,826 (354,055) 296,814 ANIMA Emerging Markets Equity 292,452 - (292,452) - ANIMA Star High Potential Europe 858,460 - (585,286) 273,174 ANIMA Star Bond 1,118,320 - (903,403) 214,917 ANIMA Star High Potential Italy 498,757 - (261,605) 237,152 ANIMA Trading Fund 676,393 - (485,161) 191,232 ANIMA Smart Volatility Global 301,000 - (73,892) 227,108 ANIMA Global Equity Value 309,014 371,416 (297,010) 383,420 ANIMAHighYieldBond ---- ANIMAItalianEquity ---- ANIMAHybridBond ---- ANIMAFlexibleBond ----

ANIMA Funds Plc 492 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

17. Related Party Transactions (continued)

Shares held Shares held As at Shares purchased Shares sold As at Rainbow Active Fund 31 December 2018 during the year during the year 31 December 2019 Rainbow Solution 2021-I ANIMA Europe Equity 353,000 53,322 - 406,322

The sub funds of Multi Solution Fund, collective investment scheme, domiciled in Ireland and managed by ANIMA Asset Management Limited, have shareholdings in the following Funds:

Shares held Shares held As at Shares purchased Shares sold As at MPS Private Solution Absolute 31 December 2019 during the year during the year 31 December 2020 ANIMA Flexible Bond 426,580 159,116 (287,206) 298,490 ANIMA Star High Potential Europe 611,980 258,208 (590,485) 279,703 ANIMA Star Bond 343,171 112,362 (70,672) 384,861 ANIMA Trading Fund 355,481 566,539 (491,301) 430,719 ANIMA Smart Volatility Global 334,108 71,652 (138,817) 266,943 ANIMA Flexible Income 551,889 - (551,889) - ANIMA Global Macro 493,298 306,101 (312,227) 487,172 ANIMA Infrastructure 588,839 68,558 (657,397) - Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Flexible 31 December 2019 during the year the year 31 December 2020 ANIMA Global Macro 605,048 100,945 - 705,993 ANIMA Global Equity Value 469,490 299,361 (560,876) 207,975 ANIMA Smart Volatility Global 675,500 - (50,228) 625,272 ANIMA Star Bond 446,960 - (58,932) 388,028 ANIMA U.S. Equity 161,250 132,077 (151,660) 141,667 ANIMA Euro Government Bond 527,692 526,455 (496,200) 557,947 ANIMA Trading Fund 700,000 416,667 (700,000) 416,667 ANIMA Flexible Bond 470,121 - (59,213) 410,908 ANIMA Europe Equity - 102,757 - 102,757 ANIMA Hybrid Bond - 319,763 - 319,763 Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Multi Asset 31 December 2019 during the year the year 31 December 2020 ANIMA Europe Equity 178,404 47,344 (81,494) 144,254 ANIMA Global Macro 485,784 60,604 (95,670) 450,718 ANIMA Global Equity Value 333,768 78,745 (255,812) 156,701 ANIMA Smart Volatility Global 218,000 108,920 (76,000) 250,920 ANIMA U.S. Equity 63,188 63,012 (73,315) 52,885 ANIMA Star High Potential Europe 374,331 109,130 (270,631) 212,830 Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Global 31 December 2019 during the year the year 31 December 2020 ANIMA Europe Equity 139,300 29,968 (89,382) 79,886 ANIMA Global Equity Value 189,084 77,518 (176,310) 90,292 ANIMA U.S. Equity 103,304 15,827 (60,415) 58,716 Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Flexible Bond 31 December 2019 during the year the year 31 December 2020 ANIMA Flexible Income 36,463 - (36,463) - ANIMA Liquidity 33,043 12,525 - 45,568 ANIMA Variable Rate Bond - 17,517 - 17,517 ANIMA Short Term Corporate Bond 33,885 2,804 - 36,689 ANIMA Euro Government Bond 21,377 12,222 - 33,599 ANIMA High Yield Bond 11,526 23,872 (17,022) 18,376 ANIMA Hybrid Bond - 14,120 (3,415) 10,705

ANIMA Funds Plc 493 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

17. Related Party Transactions (continued)

Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Absolute 31 December 2018 during the year the year 31 December 2019 ANIMA Flexible Income 714,062 - (162,173) 551,889 ANIMA Liquidity 250,000 - (250,000) - ANIMA Global Macro 290,363 342,066 (139,131) 493,298 ANIMA Smart Volatility Global 602,869 - (268,761) 334,108 ANIMA Star Bond 662,359 - (319,188) 343,171 ANIMA Trading Fund 630,573 - (275,092) 355,481 ANIMA Star High Potential Europe 611,980 - - 611,980 ANIMA Flexible Bond - 426,580 - 426,580 ANIMA Infrastructure - 675,819 (86,980) 588,839 Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Flexible 31 December 2018 during the year the year 31 December 2019 ANIMA Global Macro 390,092 214,956 - 605,048 ANIMA Global Equity Value 467,000 108,774 (106,284) 469,490 ANIMA Smart Volatility Global 675,500 - - 675,500 ANIMA Star Bond 903,755 - (456,795) 446,960 ANIMA U.S. Equity 274,000 - (112,750) 161,250 ANIMA Euro Government Bond 613,000 - (85,308) 527,692 ANIMA Trading Fund 700,000 - - 700,000 ANIMA Flexible Bond - 470,121 - 470,121 Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Multi Asset 31 December 2018 during the year the year 31 December 2019 ANIMA Europe Equity 108,082 112,501 (42,179) 178,404 ANIMA Global Macro 342,300 143,484 - 485,784 ANIMA Global Equity Value 344,875 51,011 (62,118) 333,768 ANIMA Smart Volatility Global 218,000 - - 218,000 ANIMA U.S. Equity 201,200 - (138,012) 63,188 ANIMA Liquidity 275,000 355,454 (630,454) - ANIMA Star High Potential Europe 235,325 139,006 - 374,331 Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Global 31 December 2018 during the year the year 31 December 2019 ANIMA Europe Equity 131,406 52,484 (44,590) 139,300 ANIMA Global Equity Value 300,404 - (111,320) 189,084 ANIMA U.S. Equity 222,794 - (119,490) 103,304 ANIMA Liquidity - 355,454 (355,454) - Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Flexible Bond 31 December 2018 during the year the year 31 December 2019 ANIMA Flexible Income 28,500 7,963 - 36,463 ANIMA Liquidity 28,266 35,343 (30,566) 33,043 ANIMA Variable Rate Bond - 13,777 (13,777) - ANIMA Short Term Corporate Bond 18,000 18,335 (2,450) 33,885 ANIMA Euro Government Bond 24,500 4,476 (7,599) 21,377 ANIMA High Yield Bond 13,000 2,726 (4,200) 11,526

Shares held As at Shares purchased Shares sold Shares held As at Private Selection Conservative 31 December 2019 during the year during the year 31 December 2020 ANIMA Flexible Income 215,444 - (215,444) - ANIMA Global Macro 109,724 119,513 (58,652) 170,585 ANIMA Star Bond 194,691 36,856 (63,675) 167,872 ANIMA Star High Potential Europe 189,668 27,324 - 216,992 ANIMA Trading Fund 141,597 - (141,597) -

ANIMA Funds Plc 494 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

17. Related Party Transactions (continued)

Shares held As at Shares Purchased Shares Sold during Shares held As at Private Selection Income 31 December 2019 during the year the year 31 December 2020 ANIMA Euro Government Bond 30,681 9,596 (5,606) 34,671 ANIMA Europe Equity 12,755 1,262 (3,968) 10,049 ANIMA Flexible Income 46,710 - (46,710) - ANIMA Global Equity Value 18,937 5,424 (19,494) 4,867 ANIMA Star High Potential Europe 28,905 13,393 - 42,298 ANIMA U.S. Equity 6,624 4,184 (5,884) 4,924 ANIMA Hybrid Bond - 17,600 - 17,600 ANIMA High Yield Bond - 33,460 (13,595) 19,865 Shares held As at Shares Purchased Shares Sold during Shares held As at Private Selection Equity 31 December 2019 during the year the year 31 December 2020 ANIMA Europe Equity 2,831 497 - 3,328 ANIMA Global Equity Value 5,515 1,476 (5,214) 1,777 ANIMA U.S. Equity 1,150 888 (278) 1,760 ANIMA Star High Potential Europe - 4,984 - 4,984

Shares held Shares held As at Shares purchased Shares sold As at Private Selection Conservative 31 December 2018 during the year during the year 31 December 2019 ANIMA Flexible Income 30,335 185,109 - 215,444 ANIMA Global Macro - 109,724 - 109,724 ANIMA Star Bond 27,712 166,979 - 194,691 ANIMA Star High Potential Europe 29,356 160,312 - 189,668 ANIMA Trading Fund 36,695 104,902 - 141,597 Shares held As at Shares Purchased Shares Sold during Shares held As at Private Selection Income 31 December 2018 during the year the year 31 December 2019 ANIMA Euro Government Bond - 30,681 - 30,681 ANIMA Europe Equity 400 12,355 - 12,755 ANIMA Flexible Income - 46,710 - 46,710 ANIMA Global Equity Value 696 18,241 - 18,937 ANIMA Star High Potential Europe 1,103 27,802 - 28,905 ANIMA U.S. Equity 377 6,247 - 6,624 Shares held As at Shares Purchased Shares Sold during Shares held As at Private Selection Equity 31 December 2018 during the year the year 31 December 2019 ANIMA Europe Equity 443 2,388 - 2,831 ANIMA Global Equity Value 623 4,892 - 5,515 ANIMA U.S. Equity 427 958 (235) 1,150

The sub funds of Private Selection Fund, collective investment scheme, domiciled in Ireland and managed by ANIMA Asset Management Limited, have shareholdings in the following Funds:

Shares held Shares held As at Shares purchased Shares sold As at MPS Private Solution Flexible Bond 31 December 2019 during the year during the year 31 December 2020 ANIMA Flexible Income 36,463 - (36,463) 0 ANIMA Liquidity 33,043 12,525 - 45,568 ANIMA Variable Rate Bond - 4,035 - 4,035 ANIMA Short Term Corporate Bond 33,885 2,804 - 36,689 ANIMA Euro Government Bond 21,377 12,222 - 33,599 ANIMA High Yield Bond 11,526 23,872 (17,022) 18,376 ANIMA Hybrid Bond - 14,120 (3,415) 10,705 Shares held As at Shares Purchased Shares Sold during Shares held As at MPS Private Solution Flexible Bond 31 December 2018 during the year the year 31 December 2019 ANIMA Flexible Income 28,500 7,963 - 36,463

ANIMA Funds Plc 495 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

17. Related Party Transactions (continued)

Shares held Shares held As at Shares purchased Shares sold As at MPS Private Solution Flexible Bond 31 December 2019 during the year during the year 31 December 2020 ANIMA Liquidity 28,266 35,343 (30,566) 33,043 ANIMA Variable Rate Bond 18,000 13,777 (13,777) - ANIMA Short Term Corporate Bond 24,500 18,335 (2,450) 33,885 ANIMA Euro Government Bond 13,000 4,476 (7,599) 21,377 ANIMA High Yield Bond - 2,726 (4,200) 11,526

Transactions Involving Directors

There were no contracts or arrangements of any significance in relation to the business of the Company in which the Directors or Company Secretary had any interest (as defined in the Companies Act, 2014), at any time during the financial year or prior financial year.

Mr. Davide Sosio is CFO and HR Director of ANIMA Holding S.p.A., the parent company of ANIMA SGR S.p.A., and a Director of ANIMA Asset Management Limited. He is Finance Director of ANIMA SGR S.p.A..

Mr. Pierluigi Giverso is Joint General Manager at ANIMA Holding S.p.A., a Director of ANIMA Asset Management Limited, and also a Deputy General Manager and Commercial Director of ANIMA SGR. S.p.A.

Mr. Rory Mason is a Director and the Chairman of the Board of Directors of ANIMA Asset Management Limited.

Mr. Andrew Bates is a Director of ANIMA Asset Management Limited, and was, during the year, a partner and then a consultant in the Company’s legal advisors, Dillon Eustace, Solicitors. Dillon Eustace is considered to be a related party by virtue of the former employment/current consultancy of Andrew Bates. Fees paid to the Company’s legal advisors, including Company Secretarial Fees, during the year amounted to EUR 152,230 (December 2019: EUR 264,872).

Mr. Agostino Ricucci is a Director and the General Manager of ANIMA Asset Management Limited.

Collateral Positions

The counterparties and the Company have in place certain OTC derivatives transactions. Considering the exposure that the Company and the counterparties have vis-a-vis each other, collateral is posted in order to hedge counterparty exposure. The following table reports the market value of the collateral provided by the Company to counterparties (negative signs represent collateral held by the Company). Collateral Mark Collateral Mark to Market Value to Market Value As at As at December 31, 2020 December 31, 2019 Counterparty EUR EUR ANIMA Short Term Corporate Bond Morgan Stanley & Co. International Plc 300,000 (330,000) ANIMA Europe Equity Morgan Stanley & Co. International Plc 280,000 (560,000) ANIMA Europe Equity Credit Agricole - 1,450,000 ANIMA Europe Equity Goldman Sachs International 260,000 260,000 ANIMA U.S. Equity JP Morgan Securities plc (540,000) - ANIMA U.S. Equity Morgan Stanley & Co. International Plc 310,000 (260,000) ANIMA Global Equity Value Morgan Stanley & Co. International Plc (10,000) - ANIMA Star High Potential Europe Morgan Stanley & Co. International Plc (1,740,000) - ANIMA Star High Potential Europe Goldman Sachs International 990,000 (3,360,000) ANIMA Star High Potential Europe Credit Agricole - (260,000) ANIMA Star Bond JP Morgan Securities plc 910,000 - ANIMA Star Bond Unicredit Bank AG - (100,000) ANIMA Star Bond Nomura International - 850,000 ANIMA Star Bond Goldman Sachs International - 390,000 ANIMA Credit Opportunities Unicredit Bank AG 280,000 - ANIMA Credit Opportunities JP Morgan Securities plc - (260,000) ANIMA Credit Opportunities Morgan Stanley & Co. International Plc 270,000 - ANIMA Trading Fund Morgan Stanley & Co. International Plc 1,130,000 -

ANIMA Funds Plc 496 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

17. Related Party Transactions (continued)

Collateral Positions (continued)

Collateral Mark Collateral Mark to Market Value to Market Value As at As at December 31, 2020 December 31, 2019 Counterparty EUR EUR Anima Flexible Bond Morgan Stanley & Co. International Plc - (300,000) Anima Flexible Bond Nomura International - 270,000 ANIMA Infrastructure Goldman Sachs International - (280,000) ANIMA Global Macro Nomura International (350,000) - ANIMA Global Macro Morgan Stanley & Co. International Plc 980,000 - ANIMA Global Macro JP Morgan Securities plc 960,000 - ANIMA Brightview 2023-I MPSCS (1,684,255) (2,858,009) ANIMA Brightview 2023-II MPSCS (9,808,303) (13,944,540) ANIMA Brightview 2023-II JP Morgan Securities plc 3,196,949 3,505,696 ANIMA Brightview 2023-III MPSCS (2,841,493) (4,218,209) ANIMA Brightview 2023-IV MPSCS (7,338,232) (8,427,882) ANIMA Brightview 2023-IV JP Morgan Securities plc 786,653 1,027,925 ANIMA Brightview 2024-I MPSCS (9,512,575) (8,510,159) ANIMA Brightview 2024-II MPSCS (13,936,706) (13,990,254) ANIMA Brightview 2024-II JP Morgan Securities plc 1,025,522 1,529,699 ANIMA Brightview 2024-III MPSCS (11,102,398) (11,497,817) ANIMA Brightview 2024-III JP Morgan Securities plc - 503,109 ANIMA Brightview 2024-III Goldman Sachs International 2,590,000 3,210,000 ANIMA Brightview 2024-IV MPSCS (12,624,594) (11,496,665) ANIMA Brightview 2024-IV JP Morgan Securities plc 4,035,879 5,473,562 ANIMA Brightview 2024-V MPSCS (5,283,105) (8,418,867) ANIMA Brightview 2024-V Goldman Sachs International 3,510,000 4,640,000 ANIMA Brightview 2025-I MPSCS (35,838,512) (29,927,455) ANIMA Brightview 2025-I Goldman Sachs International 3,140,000 3,730,000 ANIMA Brightview 2027-I MPSCS (13,582,026) (18,691,708) ANIMA Brightview 2027-I JP Morgan Securities plc 10,534,415 12,922,333 ANIMA Brightview II MPSCS (12,257,418) - ANIMA Brightview III MPSCS (11,747,756) - ANIMA Brightview IV MPSCS (13,870,706) - ANIMA Brightview IV Goldman Sachs International 1,480,000 - ANIMA Brightview V MPSCS (2,000,004) - ANIMA Brightview V JP Morgan Securities plc (2,281,490) - ANIMA Brightview VI MPSCS (23,786,868) - ANIMA Brightview VI Goldman Sachs International 2,370,000 - ANIMA Orizzonte Europa 2022 MPSCS (3,577,596) (4,001,371) ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato MPSCS (5,194,235) (5,024,750) ANIMA Orizzonte Sostenibile 2023 MPSCS (34,022,190) (44,648,538) ANIMA Orizzonte Benessere 2023 MPSCS (43,854,572) (58,545,346) ANIMA Orizzonte Energia 2023 MPSCS (3,511,036) (12,145,961) ANIMA Zephyr Global Morgan Stanley & Co. International Plc 320,000 350,000 ANIMA Zephyr Global Allocation Morgan Stanley & Co. International Plc 240,000 (300,000) ANIMA Zephyr Real Assets Morgan Stanley & Co. International Plc 180,000 -

ANIMA Funds Plc 497 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

18. Auditor’s Remuneration

The remuneration for all work carried out by the statutory audit firm in respect of the financial years under review was as follows:

Year ended Year ended 31 December 2020 31 December 2019 EUR EUR Statutory audit of the company financial statements 321,200 299,000 Tax Advisory Services --

321,200 299,000

The above amount reflects the audit fee (exclusive of VAT) agreed for the current financial statement year, however amounts disclosed in the Statement of Comprehensive Income and Note 6 are reflective of amounts accrued in the financial year.

19. Taxation

Under current Irish law and practice the Company qualifies as an investment undertaking under Section 739B of the Taxes Consolidation Act, 1997 and is not therefore chargeable to Irish tax on its relevant income or relevant gains. No stamp, transfer or registration tax is payable in Ireland on the issue, redemption or transfer of Shares in the Company. Distributions and interest on securities issued in countries other than Ireland may be subject to taxes including withholding taxes imposed by such countries. The Company may not be able to benefit from a reduction in the rate of withholding tax by virtue of the double taxation agreement in operation between Ireland and other countries. The Company may not, therefore, be able to reclaim withholding tax suffered by it in particular countries.

To the extent that a chargeable event arises in respect of a Shareholder, the Company may be required to deduct tax in connection with that chargeable event and pay the tax to the Irish Revenue Commissioners. A chargeable event can include dividend payments to Shareholders, appropriation, cancellation, redemption, repurchase or transfer of shares, or a deemed disposal of Shares every 8 years beginning from the date of acquisition of those Shares. Certain exemptions can apply. To the extent that Shareholders have appropriate tax declarations in place with the Company there may be no requirement to deduct tax.

20. Cross Investment between Funds

Under the Investment Funds, Companies and Miscellaneous Provisions Act 2005, the Company is permitted to engage in cross-investment between Funds within the umbrella structure.

Please refer to the Schedule of Investments of these Funds on pages 489 to 749 to view their holdings in the other Funds. The cross holdings are indicated with an asterix on the applicable Funds’ Schedule of Investments of these Funds. The cross holdings have the nominal amounts and market value disclosed on the Schedules of Investments. No distributions were paid out of the cross holding during the current or prior periods. For the purpose of producing the combined financial statements these cross holdings were eliminated in order to prevent double counting.

These holdings are removed from the Company totals on the primary statements.

The management and investment management fees were waived on the cross holding portion of the Funds. Please refer to the table below which details the amounts of the management fees waived in relation to the cross holdings.

Year ended Year ended 31 December 2020 31 December 2019 EUR EUR ANIMA Tesoreria Imprese - 49,925 ANIMA Active Selection 55,653 60,824 ANIMA Defensive 368,511 388,322 ANIMA Orizzonte Europa 2022 225,148 238,975 ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato 249,473 260,504 ANIMA Solution 2022-I 3,865 6,235 ANIMA Solution 2022-III 2,572 3,945 ANIMA Solution 2023-I 43,257 49,197

ANIMA Funds Plc 498 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

20. Cross Investment between Funds (continued)

Year ended Year ended 31 December 2020 31 December 2019 EUR EUR ANIMA Solution EM 33,531 32,699

ANIMA Tesoreria Imprese was terminated on 28 June 2019 after its Shares were fully redeemed.

21. Soft Commission Arrangements and Directed Brokerage

There were no soft commission arrangements or directed brokerage arrangements affecting the Company during the financial year or prior financial year.

22. Significant events during the financial year

New Funds and addenda approved by the Central Bank

Second Addendum to the Prospectus was approved on 31 January 2020.

ANIMA Zephyr New was approved on 6 February 2020.

The updated Prospectus was issued on 9 July 2020.

ANIMA Zephyr New II was approved on 9 July 2020.

ANIMA Brightview IX was approved on 28 August 2020.

ANIMA Brightview X was approved on 28 August 2020.

The updated Prospectus was issued on 27 November 2020.

Funds launched during the financial year

ANIMA Zephyr New was launched on 12 February 2020.

ANIMA Brightview V was launched on 28 February 2020.

ANIMA Brightview VI was launched on 12 May 2020.

ANIMA Brightview VII was launched on 29 July 2020.

ANIMA Brightview VIII was launched on 30 September 2020.

ANIMA Global Selection was launched on 15 December 2020.

Funds revoked by the Central Bank of Ireland

ANIMA Flex 50 was revoked by the Central Bank of Ireland on 26 March 2020.

ANIMA Attiva Cedola Plus 2018 was revoked by the Central Bank of Ireland on 26 March 2020.

ANIMA Traguardo 2017 Global Bonds was revoked by the Central Bank of Ireland on 26 March 2020.

ANIMA Cedola BRIC 2018 was revoked by the Central Bank of Ireland on 26 March 2020.

PRIMA Bond 2017 Crescita Imprese was revoked by the Central Bank of Ireland on 26 March 2020.

Funds terminated during the financial year

The Shares of ANIMA Flexible Income were fully redeemed on 08 October 2020.

The Shares of ANIMA Infrastructure were fully redeemed on 20 October 2020.

The Shares of ANIMA Life Bond were fully redeemed on 22 October 2020.

ANIMA Funds Plc 499 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

22. Significant events during the financial year (continued)

Dividends Paid during the financial year

ANIMA Brightview 2024-I paid a dividend of EUR 0.156 per share on 23 January 2020.

ANIMA Brightview 2024-V paid a dividend of EUR 0.130 per share on 30 January 2020.

ANIMA Brightview 2027-I paid a dividend of EUR 0.083 per share on 26 March 2020.

ANIMA Brightview 2024-II paid a dividend of EUR 0.104 per share on 23 April 2020.

ANIMA Orizzonte Sostenibile 2023 paid a dividend of EUR 0.050 per share on 06 May 2020.

ANIMA Brightview 2025-I paid a dividend of EUR 0.260 per share on 2 July 2020.

ANIMA Orizzonte Benessere 2023 paid a dividend of EUR 0.050 per share on 22 July 2020.

ANIMA Brightview 2024-III paid a dividend of EUR 0.246 per share on 23 July 2020.

ANIMA Orizzonte Energia 2023 paid a dividend of EUR 0.0625 per share on 7 October 2020.

ANIMA Brightview 2024-IV paid a dividend of EUR 0.308 per share on 8 October 2020

ANIMA Brightview II paid a dividend of EUR 0.104 per share on 22 October 2020.

ANIMA Orizzonte Europa 2023 Rendimento Bilanciato paid a dividend of EUR 0.050 per share on 27 October 2020.

ANIMA Orizzonte Consumi 2023 paid a dividend of EUR 0.0625 per share on 16 December 2020.

Other significant events during the financial year

ANIMA Global Equity changed name to Anima Global Equity Value on 27 November 2020.

ANIMA Star High Potential Global changed name to ANIMA Trading Fund 27 November 2020.

Beginning in January 2020, global financial markets have experienced significant volatility resulting from the spread of a novel coronavirus known as COVID-19. The outbreak of COVID-19 resulted in travel and border restrictions, quarantines, supply chain disruptions, lower consumer demand and general market uncertainty. The effects of COVID-19 has adversely affected the economies of the entire world.

There have been no other significant events affecting the Company during the financial year.

23. Significant events after the financial year

New Funds and addenda approved by the Central Bank

ANIMA Selection Conservative was approved on 23 February 2021.

ANIMA Zephyr New III was approved on 1 March 2021.

First Addendum to the Prospectus was approved on 4 March 2021.

Second Addendum to the Prospectus was approved on 19 March 2021.

Dividends Paid after the financial year

ANIMA Brightview 2024-V paid a dividend of EUR 0.138 per share on 20 January 2021.

ANIMA Brightview IV paid a dividend of EUR 0.103 per share on 20 January 2021.

ANIMA Brightview 2027-I paid a dividend of EUR 0.083 per share on 18 March 2021.

ANIMA Brightview V paid a dividend of EUR 0.105 per share on 14 April 2021.

ANIMA Funds Plc 500 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

23. Significant events after the financial year (continued)

Other Significant events after the financial year

On 19 March 2021 the Second Addendum to Prospectus was approved by the CBI. Specifically, through the aforementioned Addendum, the Fund Information Card for ANIMA Active Allocation (inactive sub-fund) has been deleted in its entirety and replaced with the Fund Information Card for ANIMA Selection Moderate, a sub-fund which invests in Collective Investment Schemes.

On 16 March 2021 the Fund Information Card in respect of “ANIMA Thematic” (formerly “ANIMA Brightview XI”) was approved by CBI the. The main changes have concerned:

• the name, from “ANIMA Brightview IX” to “ANIMA Thematic”;

• the protection level range, from between 80%-100% to between 40%-100%.

On 4 March 2021 the First Addendum to Prospectus of ANIMA Funds Plc was approved by the CBI via fast-track process, in order to address Article 6 of the Sustainable Finance Disclosure Regulation (SFDR). The changes have concerned the:

• Introduction of the “Sustainability Risk” disclosure in the “Risk Factors” paragraph; in line with the aforementioned disclosure, the Sub-Funds have been classified according to the estimated level of sustainability risk.

• Revision of the “Environmental, Social and Corporate Governance Factors” paragraph in accordance with the new “ESG Policy” updated by the Manager.

• Removal of reference to the “ESG Policy” from each Fund Information Card.

On 1 March 2021 the Fund Information Card in respect of “ANIMA Zephyr New III” was approved by the CBI.

On 23 February 2021 the Fund Information Card in respect of “ANIMA Selection Conservative” was approved by the CBI.

Anima Bond Flex was approved on 22 April 2021.

The two following mergers involving four Company’s Sub-Funds were proposed during the Board meeting of the Company held on 21 April 2021:

• The merger of ANIMA Global Currencies as merging Sub-Fund into ANIMA Global Bond as receiving Sub-Fund;

• The merger of ANIMA Star Bond as merging Sub-Fund into ANIMA Bond Flex as receiving Sub-Fund.

These proposed mergers are subject to:

• The approval by the shareholders of each merging Sub-Funds via two different Extraordinary General Meetings;

• The approval of the proposed merger by the Central Bank.

24. Segregated Liability

The Company is structured as an open-ended umbrella investment company with segregated liability between its Funds. While the provisions of the Companies Act 2014 provide for segregated liability between Funds, these provisions have not been tested in foreign courts, in particular in satisfying local creditors’ claims. Accordingly it is not free from doubt that the assets of any Fund of the Company may not be exposed to the liabilities of other Funds of the Company.

25. Off Statement of Financial Position risk

Securities sold short and options written represent obligations of the Company to deliver the specified security at the contracted price and thereby create a liability to repurchase the security in the market at prevailing prices. Accordingly, these securities may result in off Statement of Financial Position risk as the Company’s satisfaction of the obligation may exceed the amount recognised in the Statement of Financial Position.

26. Prospectus Update

Please refer to the Company’s website www.animafunds.ie to obtain a copy of the Company’s most recent prospectus.

ANIMA Funds Plc 501 ANIMA Funds Plc Notes to the Financial Statements for the financial year ended 31 December 2020 (continued)

27. Approval of Financial Statements

The Financial Statements were approved by the Board of Directors on 21 April 2021.

ANIMA Funds Plc 502 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Liquidity

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 91.28% (2019: 91.36%)

Belgium: 2.97%

Government Bonds: 2.97% 19,000,000 Belgium Government Bond 4.25% 28/09/2021 19,687,770 2.97

Total Belgium 19,687,770 2.97

France: 5.06%

Government Bonds: 5.06% 1,000,000 France Government Bond OAT Zero Coupon 25/02/2021 1,000,860 0.15 5,000,000 France Government Bond OAT 3.75% 25/04/2021 5,066,550 0.77 5,000,000 France Government Bond OAT Zero Coupon 25/05/2021 5,012,950 0.76 13,000,000 France Government Bond OAT 3.25% 25/10/2021 13,405,600 2.02 6,000,000 France Treasury Bill BTF Zero Coupon 24/03/2021 6,009,512 0.91 1,000,000 France Treasury Bill BTF Zero Coupon 16/06/2021 1,003,050 0.15 2,000,000 France Treasury Bill BTF Zero Coupon 14/07/2021 2,007,166 0.30

Total France 33,505,688 5.06

Italy: 38.11%

Government Bonds: 38.11% 8,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 8,501,209 1.28 26,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/01/2021 26,010,636 3.93 28,400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 28,418,693 4.29 45,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 26/02/2021 45,041,638 6.80 53,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2021 53,075,190 8.02 11,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 11,017,996 1.66 15,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 15,030,729 2.27 18,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 18,053,358 2.73 10,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 10,034,983 1.52 15,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/11/2021 15,064,863 2.28 22,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 22,053,020 3.33

Total Italy 252,302,315 38.11

Portugal: 18.25%

Government Bonds: 18.25% 5,000,000 Portugal Obrigacoes do Tesouro OT 3.85% 15/04/2021 5,063,060 0.76 16,500,000 Portugal Treasury Bill Zero Coupon 05/01/2021 16,503,279 2.49 23,000,000 Portugal Treasury Bill Zero Coupon 19/03/2021 23,029,113 3.48 21,000,000 Portugal Treasury Bill Zero Coupon 21/05/2021 21,048,505 3.18 20,000,000 Portugal Treasury Bill Zero Coupon 16/07/2021 20,065,279 3.03 35,000,000 Portugal Treasury Bill Zero Coupon 17/09/2021 35,151,885 5.31

Total Portugal 120,861,121 18.25

ANIMA Funds Plc 503 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Liquidity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 91.28% (2019: 91.36%)

Spain: 26.89%

Government Bonds: 26.89% 38,000,000 Spain Government Bond 0.05% 31/01/2021 38,013,452 5.74 32,000,000 Spain Government Bond 5.50% 30/04/2021 32,616,576 4.93 20,000,000 Spain Government Bond 0.75% 30/07/2021 20,151,000 3.04 40,000,000 Spain Government Bond 0.05% 31/10/2021 40,207,040 6.07 10,000,000 Spain Letras Del Tesoro Zero Coupon 15/01/2021 10,002,696 1.51 37,000,000 Spain Letras Del Tesoro Zero Coupon 05/03/2021 37,042,599 5.60

Total Spain 178,033,363 26.89

Total Bonds 604,390,257 91.28

Total Value of Investments (Cost: EUR 604,064,299) 604,390,257 91.28

Cash and Cash Equivalents 57,941,407 8.75

Other Net Liabilities (182,592) (0.03)

Net Assets Attributable to Holders of Redeemable Participating Shares 662,149,072 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 87.51 Other Assets 12.49

100.00

ANIMA Funds Plc 504 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 93.26% (2019: 96.76%)

Austria: 3.94%

Government Bonds: 3.94% 1,859,000 Austria Government Bond 3.65% 20/04/2022 1,962,546 0.60 1,873,000 Austria Government Bond Zero Coupon 20/09/2022 1,894,939 0.58 2,402,000 Austria Government Bond 3.40% 22/11/2022 2,588,545 0.79 1,349,000 Austria Government Bond Zero Coupon 20/04/2023 1,370,169 0.42 2,183,000 Austria Government Bond Zero Coupon 15/07/2023 2,221,137 0.67 2,720,000 Austria Government Bond 1.75% 20/10/2023 2,907,729 0.88

Total Austria 12,945,065 3.94

Belgium: 4.05%

Government Bonds: 4.05% 3,189,000 Belgium Government Bond 4.00% 28/03/2022 3,373,956 1.03 3,631,000 Belgium Government Bond 4.25% 28/09/2022 3,945,445 1.20 2,987,000 Belgium Government Bond 2.25% 22/06/2023 3,207,297 0.98 2,711,000 Belgium Government Bond 0.20% 22/10/2023 2,780,179 0.84

Total Belgium 13,306,877 4.05

Finland: 1.45%

Government Bonds: 1.45% 1,144,000 Finland Government Bond Zero Coupon 15/04/2022 1,153,953 0.35 1,122,000 Finland Government Bond 1.63% 15/09/2022 1,166,896 0.36 1,089,000 Finland Government Bond 1.50% 15/04/2023 1,144,515 0.35 1,258,000 Finland Government Bond Zero Coupon 15/09/2023 1,282,928 0.39

Total Finland 4,748,292 1.45

France: 21.85%

Government Bonds: 21.85% 6,083,000 France Government Bond OAT Zero Coupon 25/02/2022 6,131,798 1.87 6,783,000 France Government Bond OAT 3.00% 25/04/2022 7,112,450 2.16 3,687,000 France Government Bond OAT 8.25% 25/04/2022 4,120,960 1.25 6,870,000 France Government Bond OAT Zero Coupon 25/05/2022 6,937,120 2.11 8,232,000 France Government Bond OAT 2.25% 25/10/2022 8,679,607 2.64 9,168,000 France Government Bond OAT Zero Coupon 25/03/2023 9,313,854 2.84 2,863,000 France Government Bond OAT 8.50% 25/04/2023 3,475,711 1.06 10,118,000 France Government Bond OAT 1.75% 25/05/2023 10,718,402 3.26 10,233,000 France Government Bond OAT 4.25% 25/10/2023 11,679,557 3.56 3,555,000 French Republic Government Bond OAT Zero Coupon 25/02/2023 3,610,045 1.10

Total France 71,779,504 21.85

ANIMA Funds Plc 505 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 93.26% (2019: 96.76%)

Germany: 18.86%

Government Bonds: 18.86% 4,182,000 Bundesobligation Zero Coupon 08/04/2022 4,220,056 1.28 6,264,000 Bundesobligation Zero Coupon 07/10/2022 6,341,674 1.93 4,407,000 Bundesobligation Zero Coupon 14/04/2023 4,483,109 1.37 4,211,000 Bundesobligation Zero Coupon 13/10/2023 4,301,070 1.31 4,591,000 Bundesrepublik Deutschland Bundesanleihe 2.00% 04/01/2022 4,718,318 1.44 5,303,000 Bundesrepublik Deutschland Bundesanleihe 1.75% 04/07/2022 5,499,699 1.67 4,734,000 Bundesrepublik Deutschland Bundesanleihe 1.50% 04/09/2022 4,913,400 1.50 4,669,000 Bundesrepublik Deutschland Bundesanleihe 1.50% 15/02/2023 4,893,037 1.49 4,938,000 Bundesrepublik Deutschland Bundesanleihe 1.50% 15/05/2023 5,204,119 1.58 5,124,000 Bundesrepublik Deutschland Bundesanleihe 2.00% 15/08/2023 5,498,031 1.67 3,741,000 Bundesschatzanweisungen Zero Coupon 11/03/2022 3,772,237 1.15 3,899,000 Bundesschatzanweisungen Zero Coupon 10/06/2022 3,938,084 1.20 4,105,000 Bundesschatzanweisungen Zero Coupon 16/09/2022 4,154,859 1.27

Total Germany 61,937,693 18.86

Ireland: 1.32%

Government Bonds: 1.32% 1,479,000 Ireland Government Bond 0.80% 15/03/2022 1,504,735 0.46 1,147,000 Ireland Government Bond Zero Coupon 18/10/2022 1,161,161 0.35 1,526,000 Ireland Government Bond 3.90% 20/03/2023 1,681,481 0.51

Total Ireland 4,347,377 1.32

Italy: 24.36%

Government Bonds: 24.36% 4,702,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/03/2022 5,001,677 1.52 3,663,000 Italy Buoni Poliennali Del Tesoro 1.20% 01/04/2022 3,739,542 1.14 3,796,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 3,883,794 1.18 4,412,000 Italy Buoni Poliennali Del Tesoro 1.00% 15/07/2022 4,510,388 1.37 2,571,000 Italy Buoni Poliennali Del Tesoro 0.90% 01/08/2022 2,625,685 0.80 4,621,000 Italy Buoni Poliennali Del Tesoro 5.50% 01/09/2022 5,075,762 1.55 5,746,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 5,932,239 1.81 4,871,000 Italy Buoni Poliennali Del Tesoro 5.50% 01/11/2022 5,397,475 1.64 3,171,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 3,200,863 0.98 3,911,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/03/2023 4,025,592 1.23 3,806,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 3,919,761 1.19 3,623,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/05/2023 4,038,558 1.23 3,691,000 Italy Buoni Poliennali Del Tesoro 0.60% 15/06/2023 3,783,275 1.15 4,319,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/08/2023 4,896,882 1.49 4,581,000 Italy Buoni Poliennali Del Tesoro 0.30% 15/08/2023 4,659,335 1.42 9,180,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 9,889,798 3.01 1,022,000 Italy Buoni Poliennali Del Tesoro 9.00% 01/11/2023 1,293,981 0.39 4,113,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 4,137,999 1.26

Total Italy 80,012,606 24.36

ANIMA Funds Plc 506 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 93.26% (2019: 96.76%)

Netherlands: 4.42%

Government Bonds: 4.42% 3,501,000 Netherlands Government Bond Zero Coupon 15/01/2022 3,526,354 1.07 3,473,000 Netherlands Government Bond 2.25% 15/07/2022 3,631,254 1.11 2,640,000 Netherlands Government Bond 7.50% 15/01/2023 3,085,632 0.94 4,011,000 Netherlands Government Bond 1.75% 15/07/2023 4,264,935 1.30

Total Netherlands 14,508,175 4.42

Portugal: 1.83%

Government Bonds: 1.83% 2,582,000 Portugal Obrigacoes do Tesouro OT 2.20% 17/10/2022 2,717,131 0.83 2,833,000 Portugal Obrigacoes do Tesouro OT 4.95% 25/10/2023 3,278,348 1.00

Total Portugal 5,995,479 1.83

Slovakia: 0.20%

Government Bonds: 0.20% 614,000 Slovakia Government Bond 3.00% 28/02/2023 661,452 0.20

Total Slovakia 661,452 0.20

Slovenia: 0.15%

Government Bonds: 0.15% 494,000 Slovenia Government Bond 0.20% 31/03/2023 501,716 0.15

Total Slovenia 501,716 0.15

Spain: 10.83%

Government Bonds: 10.83% 5,224,000 Spain Government Bond 5.85% 31/01/2022 5,587,068 1.70 4,759,000 Spain Government Bond 0.40% 30/04/2022 4,822,851 1.47 4,252,000 Spain Government Bond 0.45% 31/10/2022 4,332,023 1.32 4,806,000 Spain Government Bond 5.40% 31/01/2023 5,405,741 1.64 4,962,000 Spain Government Bond Zero Coupon 30/04/2023 5,027,169 1.53 4,823,000 Spain Government Bond 0.35% 30/07/2023 4,934,585 1.50 4,800,000 Spain Government Bond 4.40% 31/10/2023 5,478,317 1.67

Total Spain 35,587,754 10.83

Total Bonds 306,331,990 93.26

Total Value of Investments (Cost: EUR 305,046,992) 306,331,990 93.26

ANIMA Funds Plc 507 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 17,652,981 5.37

Other Net Assets 4,485,739 1.37

Net Assets Attributable to Holders of Redeemable Participating Shares 328,470,710 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 89.97 Other Assets 10.03

100.00

ANIMA Funds Plc 508 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Medium Term Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 94.54% (2019: 96.79%)

Austria: 3.39%

Government Bonds: 3.39% 1,009,000 Austria Government Bond 3.65% 20/04/2022 1,065,201 0.26 447,000 Austria Government Bond 3.40% 22/11/2022 481,715 0.11 1,336,000 Austria Government Bond 1.75% 20/10/2023 1,428,208 0.34 889,000 Austria Government Bond 1.65% 21/10/2024 969,374 0.23 640,000 Austria Government Bond 1.20% 20/10/2025 698,936 0.17 294,000 Austria Government Bond 4.85% 15/03/2026 380,391 0.09 562,000 Austria Government Bond 0.75% 20/10/2026 607,983 0.15 1,193,000 Austria Government Bond 6.25% 15/07/2027 1,740,289 0.41 1,586,000 Austria Government Bond 0.50% 20/02/2029 1,718,539 0.41 446,000 Austria Government Bond 2.40% 23/05/2034 607,858 0.15 720,000 Austria Government Bond 4.15% 15/03/2037 1,231,451 0.29 530,000 Austria Government Bond 3.15% 20/06/2044 927,748 0.22 560,000 Austria Government Bond 3.80% 26/01/2062 1,361,063 0.32 453,000 Austria Government Bond 2.10% 31/12/2099 1,009,965 0.24

Total Austria 14,228,721 3.39

Belgium: 5.60%

Government Bonds: 5.60% 845,000 Belgium Government Bond 4.00% 28/03/2022 894,008 0.21 789,209 Belgium Government Bond 4.25% 28/09/2022 857,554 0.20 493,000 Belgium Government Bond 2.25% 22/06/2023 529,360 0.13 674,000 Belgium Government Bond 0.20% 22/10/2023 691,199 0.16 1,240,000 Belgium Government Bond 2.60% 22/06/2024 1,383,744 0.33 1,159,000 Belgium Government Bond 0.80% 22/06/2025 1,236,894 0.29 890,000 Belgium Government Bond 4.50% 28/03/2026 1,133,703 0.27 1,567,000 Belgium Government Bond 0.80% 22/06/2027 1,711,161 0.41 996,000 Belgium Government Bond 5.50% 28/03/2028 1,441,519 0.34 2,291,000 Belgium Government Bond 0.90% 22/06/2029 2,557,368 0.61 1,424,000 Belgium Government Bond 1.00% 22/06/2031 1,625,151 0.39 1,708,269 Belgium Government Bond 5.00% 28/03/2035 2,979,509 0.71 1,395,000 Belgium Government Bond 4.25% 28/03/2041 2,541,294 0.61 732,000 Belgium Government Bond 3.75% 22/06/2045 1,344,609 0.32 1,233,000 Belgium Government Bond 1.60% 22/06/2047 1,643,498 0.39 568,000 Belgium Government Bond 2.15% 22/06/2066 958,881 0.23

Total Belgium 23,529,452 5.60

Finland: 1.42%

Government Bonds: 1.42% 159,000 Finland Government Bond 1.63% 15/09/2022 165,362 0.04 712,000 Finland Government Bond 1.50% 15/04/2023 748,296 0.18 518,000 Finland Government Bond 2.00% 15/04/2024 565,015 0.13 475,000 Finland Government Bond 4.00% 04/07/2025 577,834 0.14 817,000 Finland Government Bond 0.50% 15/04/2026 869,345 0.21 1,125,000 Finland Government Bond 2.75% 04/07/2028 1,412,692 0.34 530,000 Finland Government Bond 0.75% 15/04/2031 594,957 0.14

ANIMA Funds Plc 509 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Medium Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.54% (2019:96.79%)

Finland (continued): 1.42%

Government Bonds (continued): 1.42% 476,000 Finland Government Bond 2.63% 04/07/2042 756,933 0.18 200,000 Finland Government Bond 1.38% 15/04/2047 273,979 0.06

Total Finland 5,964,413 1.42

France: 23.40%

Government Bonds: 23.40% 2,958,000 France Government Bond OAT 3.00% 25/04/2022 3,101,670 0.74 3,097,000 France Government Bond OAT Zero Coupon 25/05/2022 3,127,258 0.74 2,042,000 France Government Bond OAT 2.25% 25/10/2022 2,153,032 0.51 1,748,000 France Government Bond OAT Zero Coupon 25/03/2023 1,775,809 0.42 1,457,500 France Government Bond OAT 8.50% 25/04/2023 1,769,420 0.42 1,193,000 France Government Bond OAT 1.75% 25/05/2023 1,263,792 0.30 3,083,775 France Government Bond OAT 4.25% 25/10/2023 3,519,704 0.84 491,000 France Government Bond OAT Zero Coupon 25/03/2024 502,317 0.12 1,252,000 France Government Bond OAT 2.25% 25/05/2024 1,379,444 0.33 5,608,000 France Government Bond OAT 1.75% 25/11/2024 6,150,866 1.46 3,201,000 France Government Bond OAT 0.50% 25/05/2025 3,366,428 0.80 1,161,000 France Government Bond OAT 6.00% 25/10/2025 1,540,531 0.37 2,273,000 France Government Bond OAT 1.00% 25/11/2025 2,460,454 0.59 1,458,000 France Government Bond OAT 3.50% 25/04/2026 1,785,107 0.43 3,974,000 France Government Bond OAT 0.50% 25/05/2026 4,220,038 1.00 4,641,000 France Government Bond OAT 0.25% 25/11/2026 4,878,336 1.16 4,358,000 France Government Bond OAT 0.75% 25/05/2028 4,775,714 1.14 1,605,000 France Government Bond OAT 5.50% 25/04/2029 2,424,096 0.58 3,192,000 France Government Bond OAT 2.50% 25/05/2030 4,077,281 0.97 1,081,000 France Government Bond OAT 1.50% 25/05/2031 1,290,238 0.31 2,340,798 France Government Bond OAT 5.75% 25/10/2032 4,038,616 0.96 2,266,000 France Government Bond OAT 1.25% 25/05/2034 2,698,625 0.64 1,769,716 France Government Bond OAT 4.75% 25/04/2035 3,033,881 0.72 1,078,000 France Government Bond OAT 1.25% 25/05/2036 1,296,694 0.31 1,060,025 France Government Bond OAT 4.00% 25/10/2038 1,824,623 0.43 3,793,000 France Government Bond OAT 4.50% 25/04/2041 7,186,233 1.71 1,635,000 France Government Bond OAT 3.25% 25/05/2045 2,824,606 0.67 1,860,000 France Government Bond OAT 2.00% 25/05/2048 2,710,199 0.65 823,000 France Government Bond OAT 4.00% 25/04/2055 1,784,280 0.43 2,221,000 France Government Bond OAT 4.00% 25/04/2060 5,101,881 1.21 663,000 France Government Bond OAT 1.75% 25/05/2066 1,008,284 0.24 2,672,000 French Republic Government Bond OAT 2.75% 25/10/2027 3,288,048 0.78 5,746,000 French Republic Government Bond OAT Zero Coupon 25/11/2029 5,959,142 1.42

Total France 98,316,647 23.40

Germany: 17.13%

Government Bonds: 17.13% 2,782,000 Bundesobligation Zero Coupon 08/04/2022 2,807,316 0.67 1,486,000 Bundesobligation Zero Coupon 13/10/2023 1,517,784 0.36

ANIMA Funds Plc 510 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Medium Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.54% (2019:96.79%)

Germany (continued): 17.13%

Government Bonds (continued): 17.13% 554,000 Bundesrepublik Deutschland Bundesanleihe 2.00% 04/01/2022 569,364 0.14 3,253,000 Bundesrepublik Deutschland Bundesanleihe 1.75% 04/07/2022 3,373,660 0.80 1,599,000 Bundesrepublik Deutschland Bundesanleihe 1.50% 04/09/2022 1,659,596 0.40 3,975,000 Bundesrepublik Deutschland Bundesanleihe 1.50% 15/02/2023 4,165,736 0.99 837,000 Bundesrepublik Deutschland Bundesanleihe 2.00% 15/08/2023 898,098 0.21 297,000 Bundesrepublik Deutschland Bundesanleihe 6.25% 04/01/2024 360,720 0.09 2,608,000 Bundesrepublik Deutschland Bundesanleihe 1.75% 15/02/2024 2,814,726 0.67 607,268 Bundesrepublik Deutschland Bundesanleihe 1.50% 15/05/2024 654,134 0.16 1,540,000 Bundesrepublik Deutschland Bundesanleihe 1.00% 15/08/2024 1,639,576 0.39 3,455,000 Bundesrepublik Deutschland Bundesanleihe 0.50% 15/02/2025 3,636,975 0.87 3,460,000 Bundesrepublik Deutschland Bundesanleihe 1.00% 15/08/2025 3,744,827 0.89 257,000 Bundesrepublik Deutschland Bundesanleihe 0.50% 15/02/2026 273,713 0.07 5,737,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/08/2026 5,979,560 1.42 2,821,000 Bundesrepublik Deutschland Bundesanleihe 0.50% 15/08/2027 3,053,123 0.73 764,000 Bundesrepublik Deutschland Bundesanleihe 0.50% 15/02/2028 830,751 0.20 149,000 Bundesrepublik Deutschland Bundesanleihe 4.75% 04/07/2028 211,983 0.05 629,000 Bundesrepublik Deutschland Bundesanleihe 0.25% 15/08/2028 674,618 0.16 6,260,000 Bundesrepublik Deutschland Bundesanleihe 0.25% 15/02/2029 6,732,617 1.60 1,782,000 Bundesrepublik Deutschland Bundesanleihe 6.25% 04/01/2030 2,927,274 0.70 1,204,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/08/2030 1,271,932 0.30 594,000 Bundesrepublik Deutschland Bundesanleihe 5.50% 04/01/2031 968,458 0.23 2,313,000 Bundesrepublik Deutschland Bundesanleihe 4.75% 04/07/2034 4,013,749 0.95 449,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/05/2035 474,536 0.11 1,036,875 Bundesrepublik Deutschland Bundesanleihe 4.00% 04/01/2037 1,796,075 0.43 808,000 Bundesrepublik Deutschland Bundesanleihe 4.25% 04/07/2039 1,525,286 0.36 2,089,261 Bundesrepublik Deutschland Bundesanleihe 4.75% 04/07/2040 4,254,800 1.01 346,000 Bundesrepublik Deutschland Bundesanleihe 3.25% 04/07/2042 622,558 0.15 1,676,000 Bundesrepublik Deutschland Bundesanleihe 2.50% 04/07/2044 2,814,696 0.67 1,167,000 Bundesrepublik Deutschland Bundesanleihe 2.5% 15/08/2046 2,011,700 0.48 2,241,000 Bundesrepublik Deutschland Bundesanleihe 1.25% 15/08/2048 3,156,453 0.75 480,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/08/2050 503,612 0.12

Total Germany 71,940,006 17.13

Ireland: 1.83%

Government Bonds: 1.83% 205,000 Ireland Government Bond 0.80% 15/03/2022 208,567 0.05 731,000 Ireland Government Bond 3.90% 20/03/2023 805,480 0.19 322,000 Ireland Government Bond 3.40% 18/03/2024 364,281 0.09 622,000 Ireland Government Bond 5.40% 13/03/2025 781,043 0.19 499,000 Ireland Government Bond 1.00% 15/05/2026 542,031 0.13 463,000 Ireland Government Bond 0.20% 15/05/2027 483,909 0.11 1,029,000 Ireland Government Bond 1.10% 15/05/2029 1,161,469 0.28 744,000 Ireland Government Bond 2.40% 15/05/2030 939,263 0.22 779,000 Ireland Government Bond 1.30% 15/05/2033 924,751 0.22 325,000 Ireland Government Bond 1.70% 15/05/2037 417,040 0.10 444,000 Ireland Government Bond 2.00% 18/02/2045 637,902 0.15

ANIMA Funds Plc 511 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Medium Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.54% (2019:96.79%)

Ireland (continued): 1.83%

Government Bonds (continued): 1.83% 325,000 Ireland Government Bond 1.50% 15/05/2050 435,305 0.10

Total Ireland 7,701,041 1.83

Italy: 21.24%

Government Bonds: 21.24% 1,946,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 1,995,815 0.47 601,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/03/2022 639,304 0.15 4,853,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 4,965,240 1.18 1,460,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 1,507,322 0.36 2,492,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 2,566,486 0.61 2,006,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/05/2023 2,236,088 0.53 3,938,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/08/2023 4,464,904 1.06 1,286,000 Italy Buoni Poliennali Del Tesoro 9.00% 01/11/2023 1,628,238 0.39 373,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/03/2024 429,547 0.10 597,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/05/2024 639,506 0.15 2,294,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/09/2024 2,626,859 0.63 3,578,000 Italy Buoni Poliennali Del Tesoro 2.50% 01/12/2024 3,953,003 0.94 2,697,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/03/2025 3,279,282 0.78 2,935,000 Italy Buoni Poliennali Del Tesoro 1.50% 01/06/2025 3,145,440 0.75 636,000 Italy Buoni Poliennali Del Tesoro 2.00% 01/12/2025 700,739 0.17 358,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/03/2026 441,441 0.11 2,509,000 Italy Buoni Poliennali Del Tesoro 1.60% 01/06/2026 2,725,025 0.65 1,830,000 Italy Buoni Poliennali Del Tesoro 7.25% 01/11/2026 2,596,016 0.62 5,540,000 Italy Buoni Poliennali Del Tesoro 2.20% 01/06/2027 6,267,180 1.49 935,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2028 1,249,263 0.30 2,187,000 Italy Buoni Poliennali Del Tesoro 5.25% 01/11/2029 3,109,074 0.74 6,609,000 Italy Buoni Poliennali Del Tesoro 3.50% 01/03/2030 8,425,735 2.01 1,238,000 Italy Buoni Poliennali Del Tesoro 6.00% 01/05/2031 1,912,180 0.46 1,788,000 Italy Buoni Poliennali Del Tesoro 1.65% 01/03/2032 1,984,247 0.47 1,614,000 Italy Buoni Poliennali Del Tesoro 5.75% 01/02/2033 2,556,415 0.61 1,964,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/09/2033 2,364,821 0.56 1,186,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/08/2034 1,824,656 0.43 822,000 Italy Buoni Poliennali Del Tesoro 2.25% 01/09/2036 978,361 0.23 931,000 Italy Buoni Poliennali Del Tesoro 4.00% 01/02/2037 1,345,388 0.32 1,588,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/08/2039 2,636,429 0.63 2,979,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/09/2040 4,995,080 1.19 1,241,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2044 2,119,752 0.50 952,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 1,348,318 0.32 1,089,000 Italy Buoni Poliennali Del Tesoro 2.70% 01/03/2047 1,412,098 0.34 1,919,000 Italy Buoni Poliennali Del Tesoro 3.45% 01/03/2048 2,823,985 0.67 1,002,000 Italy Buoni Poliennali Del Tesoro 2.80% 01/03/2067 1,342,592 0.32

Total Italy 89,235,829 21.24

ANIMA Funds Plc 512 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Medium Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.54% (2019:96.79%)

Netherlands: 4.35%

Government Bonds: 4.35% 1,871,000 Netherlands Government Bond 2.25% 15/07/2022 1,956,256 0.47 1,301,283 Netherlands Government Bond 3.75% 15/01/2023 1,420,361 0.34 1,746,000 Netherlands Government Bond 2.00% 15/07/2024 1,916,083 0.46 567,000 Netherlands Government Bond 0.25% 15/07/2025 591,905 0.14 1,034,000 Netherlands Government Bond 0.50% 15/07/2026 1,102,198 0.26 1,212,000 Netherlands Government Bond 0.75% 15/07/2027 1,324,193 0.31 1,069,368 Netherlands Government Bond 5.50% 15/01/2028 1,540,059 0.37 1,820,000 Netherlands Government Bond Zero Coupon 15/07/2030 1,906,973 0.45 710,000 Netherlands Government Bond 2.50% 15/01/2033 966,523 0.23 615,000 Netherlands Government Bond 4.00% 15/01/2037 1,055,340 0.25 1,361,000 Netherlands Government Bond 3.75% 15/01/2042 2,543,573 0.60 837,000 Netherlands Government Bond 2.75% 15/01/2047 1,496,189 0.36 436,000 Netherlands Government Bond Zero Coupon 15/01/2052 448,135 0.11

Total Netherlands 18,267,788 4.35

Portugal: 2.18%

Government Bonds: 2.18% 524,000 Portugal Obrigacoes do Tesouro OT 2.20% 17/10/2022 551,424 0.13 687,000 Portugal Obrigacoes do Tesouro OT 4.95% 25/10/2023 794,996 0.19 402,000 Portugal Obrigacoes do Tesouro OT 5.65% 15/02/2024 480,334 0.11 1,051,000 Portugal Obrigacoes do Tesouro OT 2.88% 15/10/2025 1,219,202 0.29 1,400,000 Portugal Obrigacoes do Tesouro OT 4.13% 14/04/2027 1,791,894 0.43 850,000 Portugal Obrigacoes do Tesouro OT 2.13% 17/10/2028 1,001,317 0.24 640,000 Portugal Obrigacoes do Tesouro OT 3.88% 15/02/2030 867,310 0.20 566,000 Portugal Obrigacoes do Tesouro OT 0.48% 18/10/2030 590,321 0.14 609,000 Portugal Obrigacoes do Tesouro OT 2.25% 18/04/2034 766,426 0.18 339,000 Portugal Obrigacoes do Tesouro OT 4.10% 15/04/2037 535,627 0.13 330,000 Portugal Obrigacoes do Tesouro OT 4.10% 15/02/2045 573,541 0.14

Total Portugal 9,172,392 2.18

Slovakia: 0.37%

Government Bonds: 0.37% 214,000 Slovakia Government Bond 3.38% 15/11/2024 247,178 0.06 189,000 Slovakia Government Bond 4.35% 14/10/2025 234,109 0.05 490,000 Slovakia Government Bond 3.63% 16/01/2029 657,533 0.16 346,000 Slovakia Government Bond 1.63% 21/01/2031 421,449 0.10

Total Slovakia 1,560,269 0.37

Slovenia: 0.25%

Government Bonds: 0.25% 218,000 Slovenia Government Bond 2.13% 28/07/2025 244,029 0.06 217,000 Slovenia Government Bond 1.25% 22/03/2027 239,088 0.06

ANIMA Funds Plc 513 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Medium Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.54% (2019:96.79%)

Slovenia (continued): 0.25%

Government Bonds (continued): 0.25% 193,000 Slovenia Government Bond 1.50% 25/03/2035 232,777 0.05 261,000 Slovenia Government Bond 1.75% 03/11/2040 338,702 0.08

Total Slovenia 1,054,596 0.25

Spain: 13.38%

Government Bonds: 13.38% 476,000 Spain Government Bond 5.85% 31/01/2022 509,082 0.12 1,384,000 Spain Government Bond 0.40% 30/04/2022 1,402,569 0.33 2,162,000 Spain Government Bond 0.45% 31/10/2022 2,202,689 0.52 1,559,000 Spain Government Bond 5.40% 31/01/2023 1,753,548 0.42 913,000 Spain Government Bond 0.35% 30/07/2023 934,123 0.22 1,313,000 Spain Government Bond 4.40% 31/10/2023 1,498,548 0.36 463,000 Spain Government Bond 4.80% 31/01/2024 539,741 0.13 2,225,000 Spain Government Bond 3.8% 30/04/2024 2,549,005 0.61 1,931,000 Spain Government Bond 2.75% 31/10/2024 2,173,727 0.52 621,000 Spain Government Bond 1.6% 30/04/2025 677,383 0.16 1,417,000 Spain Government Bond 4.65% 30/07/2025 1,751,610 0.42 2,053,000 Spain Government Bond 2.15% 31/10/2025 2,311,731 0.55 537,000 Spain Government Bond 5.90% 30/07/2026 726,883 0.17 4,208,000 Spain Government Bond 1.30% 31/10/2026 4,621,865 1.10 2,523,000 Spain Government Bond 1.50% 30/04/2027 2,815,592 0.67 598,000 Spain Government Bond 5.15% 31/10/2028 847,371 0.20 1,692,377 Spain Government Bond 6.00% 31/01/2029 2,534,463 0.60 4,579,000 Spain Government Bond 1.45% 30/04/2029 5,172,370 1.23 3,422,000 Spain Government Bond 1.95% 30/07/2030 4,056,989 0.97 317,000 Spain Government Bond 5.75% 30/07/2032 520,849 0.12 3,172,000 Spain Government Bond 2.35% 30/07/2033 4,000,724 0.95 838,000 Spain Government Bond 4.20% 31/01/2037 1,332,843 0.32 1,294,000 Spain Government Bond 4.90% 30/07/2040 2,337,870 0.56 1,197,000 Spain Government Bond 4.70% 30/07/2041 2,143,281 0.51 1,022,000 Spain Government Bond 5.15% 31/10/2044 2,018,301 0.48 1,689,000 Spain Government Bond 2.9% 31/10/2046 2,529,278 0.61 1,239,000 Spain Government Bond 3.45% 30/07/2066 2,238,378 0.53

Total Spain 56,200,813 13.38

Total Bonds 397,171,967 94.54

Total Value of Investments (Cost: EUR 370,607,354) 397,171,967 94.54

Cash and Cash Equivalents 19,886,601 4.73

Other Net Assets 3,066,828 0.73

Net Assets Attributable to Holders of Redeemable Participating Shares 420,125,396 100.00

ANIMA Funds Plc 514 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Medium Term Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 92.85 Other Assets 7.15

100.00

ANIMA Funds Plc 515 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Bond Dollar

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 95.01% (2019: 94.20%)

United States: 95.01%

Government Bonds: 95.01% 613,500 United States Treasury Note/Bond 4.50% 01/06/2021 735,173 0.28 2,250,000 United States Treasury Note/Bond 1.75% 30/11/2021 1,866,064 0.71 444,000 United States Treasury Note/Bond 2.00% 31/12/2021 369,654 0.14 741,000 United States Treasury Note/Bond 2.13% 31/12/2021 617,680 0.23 2,784,000 United States Treasury Note/Bond 1.50% 31/01/2022 2,309,121 0.87 2,119,000 United States Treasury Note/Bond 1.88% 31/01/2022 1,764,589 0.67 2,408,000 United States Treasury Note/Bond 2.00% 15/02/2022 2,009,327 0.76 2,571,000 United States Treasury Note/Bond 1.88% 28/02/2022 2,143,945 0.81 3,486,000 United States Treasury Note/Bond 1.75% 31/03/2022 2,906,959 1.10 3,364,000 United States Treasury Note/Bond 1.75% 15/05/2022 2,810,594 1.06 3,737,000 United States Treasury Note/Bond 1.75% 31/05/2022 3,124,499 1.18 4,469,000 United States Treasury Note/Bond 1.88% 31/05/2022 3,742,943 1.41 2,045,000 United States Treasury Note/Bond 2.13% 30/06/2022 1,721,311 0.65 1,664,000 United States Treasury Note/Bond 1.88% 31/07/2022 1,397,483 0.53 3,473,000 United States Treasury Note/Bond 2.00% 31/07/2022 2,921,953 1.10 1,699,000 United States Treasury Note/Bond 1.63% 15/08/2022 1,422,266 0.54 1,775,500 United States Treasury Note/Bond 7.25% 15/08/2022 1,618,663 0.61 1,200,000 United States Treasury Note/Bond 1.88% 31/08/2022 1,009,141 0.38 2,525,000 United States Treasury Note/Bond 1.75% 30/09/2022 2,121,869 0.80 2,403,000 United States Treasury Note/Bond 1.88% 31/10/2022 2,026,635 0.77 2,975,000 United States Treasury Note/Bond 1.63% 15/11/2022 2,499,074 0.94 5,465,000 United States Treasury Note/Bond 2.00% 30/11/2022 4,626,329 1.75 654,000 United States Treasury Note/Bond 2.13% 31/12/2022 555,745 0.21 864,000 United States Treasury Note/Bond 1.75% 31/01/2023 729,864 0.28 1,517,000 United States Treasury Note/Bond 2.38% 31/01/2023 1,297,468 0.49 1,473,000 United States Treasury Note/Bond 2.00% 15/02/2023 1,251,183 0.47 1,779,000 United States Treasury Note/Bond 1.50% 28/02/2023 1,496,676 0.57 1,341,000 United States Treasury Note/Bond 2.63% 28/02/2023 1,154,687 0.44 1,182,000 United States Treasury Note/Bond 1.50% 31/03/2023 995,400 0.38 906,000 United States Treasury Note/Bond 2.50% 31/03/2023 779,632 0.29 1,437,000 United States Treasury Note/Bond 2.75% 25/04/2023 1,453,613 0.55 923,000 United States Treasury Note/Bond 1.63% 30/04/2023 780,323 0.29 1,565,000 United States Treasury Note/Bond 2.75% 30/04/2023 1,356,309 0.51 1,873,000 United States Treasury Note/Bond 1.75% 15/05/2023 1,588,914 0.60 1,799,000 United States Treasury Note/Bond 1.63% 31/05/2023 1,522,634 0.58 2,864,000 United States Treasury Note/Bond 1.38% 30/06/2023 2,412,232 0.91 2,221,000 United States Treasury Note/Bond 1.25% 31/07/2023 1,866,759 0.71 1,872,000 United States Treasury Note/Bond 2.75% 31/07/2023 1,632,291 0.62 2,540,000 United States Treasury Note/Bond 2.50% 15/08/2023 2,203,402 0.83 5,553,000 United States Treasury Note/Bond 2.75% 31/08/2023 4,850,628 1.83 8,408,000 United States Treasury Note/Bond 1.38% 30/09/2023 7,102,389 2.68 252,000 United States Treasury Note/Bond 2.25% 31/12/2023 218,790 0.08 502,000 United States Treasury Note/Bond 2.50% 31/01/2024 439,530 0.17 1,370,000 United States Treasury Note/Bond 2.75% 15/02/2024 1,209,356 0.46 1,909,000 United States Treasury Note/Bond 2.13% 29/02/2024 1,655,716 0.63 1,658,000 United States Treasury Note/Bond 2.13% 31/03/2024 1,439,554 0.54 4,112,000 United States Treasury Note/Bond 2.00% 30/04/2024 3,561,699 1.35 3,433,000 United States Treasury Note/Bond 2.00% 31/05/2024 2,977,295 1.13 3,333,000 United States Treasury Note/Bond 2.00% 30/06/2024 2,894,081 1.09 6,845,000 United States Treasury Note/Bond 2.13% 31/07/2024 5,975,931 2.26

ANIMA Funds Plc 516 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Bond Dollar (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 95.01% (2019: 94.20%)

United States (continued): 95.01%

Government Bonds (continued): 95.01% 3,751,000 United States Treasury Note/Bond 1.50% 30/11/2024 3,214,283 1.21 799,000 United States Treasury Note/Bond 2.25% 31/12/2024 704,647 0.27 550,000 United States Treasury Note/Bond 2.75% 28/02/2025 495,394 0.19 455,000 United States Treasury Note/Bond 4.38% 07/03/2025 569,235 0.21 2,571,000 United States Treasury Note/Bond 2.63% 31/03/2025 2,308,270 0.87 6,884,000 United States Treasury Note/Bond 2.13% 15/05/2025 6,071,517 2.29 3,948,000 United States Treasury Note/Bond 2.88% 31/05/2025 3,589,552 1.36 2,565,000 United States Treasury Note/Bond 6.88% 15/08/2025 2,726,086 1.03 5,948,000 United States Treasury Note/Bond 0.25% 31/08/2025 4,844,554 1.83 6,391,000 United States Treasury Note/Bond 2.25% 15/11/2025 5,702,811 2.16 1,671,000 United States Treasury Note/Bond 1.63% 15/02/2026 1,452,228 0.55 1,247,000 United States Treasury Note/Bond 6.00% 15/02/2026 1,310,743 0.50 6,949,000 United States Treasury Note/Bond 1.63% 15/05/2026 6,045,651 2.29 8,281,000 United States Treasury Note/Bond 1.50% 15/08/2026 7,164,575 2.71 740,000 United States Treasury Note/Bond 2.25% 15/02/2027 668,301 0.25 2,784,000 United States Treasury Note/Bond 2.38% 15/05/2027 2,537,100 0.96 853,000 United States Treasury Note/Bond 2.88% 04/07/2027 879,827 0.33 707,000 United States Treasury Note/Bond 3.63% 15/07/2027 816,835 0.31 7,450,000 United States Treasury Note/Bond 2.25% 15/08/2027 6,748,861 2.55 836,000 United States Treasury Note/Bond 3.38% 01/11/2027 932,754 0.35 8,158,000 United States Treasury Note/Bond 2.25% 15/11/2027 7,400,387 2.80 1,173,000 United States Treasury Note/Bond 2.25% 15/01/2028 1,094,849 0.41 1,572,000 United States Treasury Note/Bond 2.75% 15/02/2028 1,472,686 0.56 1,386,000 United States Treasury Note/Bond 2.75% 28/03/2028 1,417,378 0.54 3,712,000 United States Treasury Note/Bond 2.88% 15/05/2028 3,513,396 1.33 2,380,000 United States Treasury Note/Bond 3.13% 15/11/2028 2,301,899 0.87 1,066,000 United States Treasury Note/Bond 3.88% 07/12/2028 1,246,888 0.47 924,000 United States Treasury Note/Bond 3.00% 31/01/2029 985,568 0.37 2,100,000 United States Treasury Note/Bond 2.38% 25/04/2029 2,012,047 0.76 6,202,000 United States Treasury Note/Bond 2.38% 15/05/2029 5,725,433 2.16 3,470,000 United States Treasury Note/Bond 6.25% 01/06/2029 3,289,329 1.24 2,337,000 United States Treasury Note/Bond 1.63% 15/08/2029 2,042,076 0.77 188,000 United States Treasury Note/Bond 1.75% 15/11/2029 165,961 0.06 10,609,000 United States Treasury Note/Bond 0.63% 15/05/2030 8,471,518 3.20 1,142,000 United States Treasury Note/Bond 2.75% 07/06/2032 1,154,401 0.44 974,000 United States Treasury Note/Bond 3.13% 07/03/2036 1,042,134 0.39 374,000 United States Treasury Note/Bond 4.75% 15/02/2037 465,487 0.18 508,500 United States Treasury Note/Bond 5.00% 15/05/2037 650,681 0.25 349,000 United States Treasury Note/Bond 4.38% 15/02/2038 423,553 0.16 766,000 United States Treasury Note/Bond 4.50% 15/05/2038 944,378 0.36 1,175,000 United States Treasury Note/Bond 4.25% 15/05/2039 1,423,300 0.54 1,283,000 United States Treasury Note/Bond 4.38% 15/11/2039 1,583,655 0.60 36,000 United States Treasury Note/Bond 4.63% 15/02/2040 45,807 0.02 998,000 United States Treasury Note/Bond 1.13% 15/05/2040 773,092 0.29 1,844,000 United States Treasury Note/Bond 4.38% 15/05/2040 2,284,125 0.86 3,243,000 United States Treasury Note/Bond 1.13% 15/08/2040 2,505,122 0.95 1,406,000 United States Treasury Note/Bond 4.25% 15/11/2040 1,723,583 0.65 1,109,000 United States Treasury Note/Bond 4.75% 15/02/2041 1,445,887 0.55 380,200 United States Treasury Note/Bond 5.38% 01/06/2041 446,451 0.17 1,245,000 United States Treasury Note/Bond 3.75% 15/08/2041 1,443,702 0.55

ANIMA Funds Plc 517 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Bond Dollar (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 95.01% (2019: 94.20%)

United States (continued): 95.01%

Government Bonds (continued): 95.01% 1,283,200 United States Treasury Note/Bond 3.13% 15/11/2041 1,369,440 0.52 587,000 United States Treasury Note/Bond 3.00% 15/05/2042 616,012 0.23 569,000 United States Treasury Note/Bond 3.13% 15/02/2043 608,930 0.23 1,409,000 United States Treasury Note/Bond 3.63% 15/08/2043 1,623,620 0.61 1,071,000 United States Treasury Note/Bond 3.75% 15/11/2043 1,257,796 0.48 1,265,000 United States Treasury Note/Bond 3.13% 15/08/2044 1,361,123 0.51 1,170,000 United States Treasury Note/Bond 3.00% 15/11/2044 1,235,335 0.47 817,000 United States Treasury Note/Bond 2.50% 15/02/2045 794,806 0.30 782,000 United States Treasury Note/Bond 3.00% 15/05/2045 827,715 0.31 1,344,000 United States Treasury Note/Bond 2.88% 15/08/2045 1,394,980 0.53 1,014,000 United States Treasury Note/Bond 3.00% 15/11/2045 1,076,483 0.41 1,161,000 United States Treasury Note/Bond 3.50% 01/12/2045 1,286,842 0.49 849,000 United States Treasury Note/Bond 2.50% 15/02/2046 827,374 0.31 766,000 United States Treasury Note/Bond 2.50% 15/05/2046 746,463 0.28 1,148,000 United States Treasury Note/Bond 2.25% 15/08/2046 1,068,876 0.40 1,156,000 United States Treasury Note/Bond 2.88% 15/11/2046 1,204,757 0.46 701,000 United States Treasury Note/Bond 3.00% 15/05/2047 748,851 0.28 993,000 United States Treasury Note/Bond 2.75% 15/11/2047 1,016,463 0.38 986,000 United States Treasury Note/Bond 3.00% 15/02/2048 1,055,823 0.40 649,000 United States Treasury Note/Bond 3.13% 15/05/2048 710,644 0.27 3,139,000 United States Treasury Note/Bond 3.00% 15/08/2048 3,368,303 1.27 1,675,000 United States Treasury Note/Bond 3.00% 15/02/2049 1,802,224 0.68 639,000 United States Treasury Note/Bond 2.88% 15/05/2049 672,928 0.25 1,594,000 United States Treasury Note/Bond 2.00% 15/02/2050 1,411,924 0.53 5,014,000 United States Treasury Note/Bond 1.38% 15/08/2050 3,828,987 1.45

Total United States 251,362,069 95.01

Total Bonds 251,362,069 95.01

Total Value of Investments (Cost: EUR 259,786,093) 251,362,069 95.01

Cash and Cash Equivalents 14,812,798 5.60

Other Net Liabilities (1,615,515) (0.61)

Net Assets Attributable to Holders of Redeemable Participating Shares 264,559,352 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 92.15 Other Assets 7.85

100.00

ANIMA Funds Plc 518 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 94.31% (2019: 96.10%)

Australia: 1.69%

Government Bonds: 1.69% 566,000 Australia Government Bond 5.50% 21/04/2023 401,081 0.26 508,000 Australia Government Bond 2.75% 21/04/2024 348,267 0.22 457,000 Australia Government Bond 4.25% 21/04/2026 346,552 0.22 62,000 Australia Government Bond 4.75% 21/04/2027 49,322 0.03 114,000 Australia Government Bond 2.75% 21/11/2027 82,282 0.05 932,000 Australia Government Bond 3.25% 21/04/2029 703,911 0.45 509,000 Australia Government Bond 4.50% 21/04/2033 445,535 0.29 164,000 Australia Government Bond 3.75% 21/04/2037 137,887 0.09 151,000 Australia Government Bond 3.00% 21/03/2047 117,286 0.08

Total Australia 2,632,123 1.69

Austria: 0.96%

Government Bonds: 0.96% 260,000 Austria Government Bond 3.40% 22/11/2022 280,192 0.18 223,000 Austria Government Bond 1.65% 21/10/2024 243,162 0.15 277,000 Austria Government Bond 0.75% 20/10/2026 299,664 0.19 7,000 Austria Government Bond 6.25% 15/07/2027 10,211 0.01 167,000 Austria Government Bond 0.50% 20/02/2029 180,956 0.12 44,000 Austria Government Bond 2.40% 23/05/2034 59,968 0.04 71,000 Austria Government Bond 4.15% 15/03/2037 121,435 0.08 47,000 Austria Government Bond 3.15% 20/06/2044 82,272 0.05 44,000 Austria Government Bond 3.80% 26/01/2062 106,941 0.07 50,000 Austria Government Bond 2.10% 31/12/2099 111,475 0.07

Total Austria 1,496,276 0.96

Belgium: 1.48%

Government Bonds: 1.48% 158,000 Belgium Government Bond 4.00% 28/03/2022 167,164 0.11 117,000 Belgium Government Bond 0.20% 22/10/2023 119,985 0.08 43,000 Belgium Government Bond 2.60% 22/06/2024 47,985 0.03 156,000 Belgium Government Bond 0.80% 22/06/2025 166,484 0.11 290,000 Belgium Government Bond 1.00% 22/06/2026 316,231 0.20 317,000 Belgium Government Bond 5.50% 28/03/2028 458,797 0.29 135,200 Belgium Government Bond 4.00% 28/03/2032 201,660 0.13 149,000 Belgium Government Bond 5.00% 28/03/2035 259,881 0.17 113,000 Belgium Government Bond 4.25% 28/03/2041 205,854 0.13 92,000 Belgium Government Bond 3.75% 22/06/2045 168,995 0.11 116,000 Belgium Government Bond 2.15% 22/06/2066 195,828 0.12

Total Belgium 2,308,864 1.48

ANIMA Funds Plc 519 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.31% (2019: 96.10%)

Canada: 1.74%

Government Bonds: 1.74% 587,000 Canadian Government Bond 2.50% 01/06/2024 404,739 0.26 249,000 Canadian Government Bond 0.50% 01/06/2026 156,345 0.10 214,000 Canadian Government Bond 1.50% 01/06/2026 144,958 0.09 264,000 Canadian Government Bond 2.00% 01/06/2026 204,269 0.13 98,000 Canadian Government Bond 4.00% 01/06/2026 96,741 0.06 211,000 Canadian Government Bond 5.75% 01/06/2026 198,040 0.13 1,143,000 Canadian Government Bond 2.75% 01/12/2051 760,019 0.49 1,063,000 Canadian Government Bond 3.25% 01/12/2051 690,874 0.44 58,000 Canadian Government Bond 3.50% 01/12/2051 56,247 0.04

Total Canada 2,712,232 1.74

Denmark: 0.38%

Government Bonds: 0.38% 1,228,000 Denmark Government Bond 1.50% 15/11/2023 175,082 0.11 1,205,000 Denmark Government Bond 0.50% 15/11/2027 173,371 0.11 576,000 Denmark Government Bond 0.50% 15/11/2029 83,966 0.05 639,000 Denmark Government Bond 4.50% 15/11/2039 164,324 0.11

Total Denmark 596,743 0.38

Finland: 0.30%

Government Bonds: 0.30% 118,000 Finland Government Bond 4.00% 04/07/2025 143,546 0.09 121,000 Finland Government Bond 2.75% 04/07/2028 151,943 0.10 49,000 Finland Government Bond 1.13% 15/04/2034 58,049 0.04 46,000 Finland Government Bond 2.63% 04/07/2042 73,149 0.05 25,000 Finland Government Bond 1.38% 15/04/2047 34,248 0.02

Total Finland 460,935 0.30

France: 6.17%

Government Bonds: 6.17% 402,500 France Government Bond OAT 3.00% 25/04/2022 422,050 0.27 251,000 France Government Bond OAT 8.50% 25/04/2023 304,717 0.19 396,900 France Government Bond OAT 1.75% 25/05/2023 420,452 0.27 323,000 France Government Bond OAT 4.25% 25/10/2023 368,660 0.24 124,600 France Government Bond OAT 2.25% 25/05/2024 137,283 0.09 707,000 France Government Bond OAT 1.75% 25/11/2024 775,439 0.50 570,000 France Government Bond OAT 0.50% 25/05/2025 599,458 0.38 68,000 France Government Bond OAT 3.50% 25/04/2026 83,256 0.05 1,118,100 France Government Bond OAT 0.50% 25/05/2026 1,187,324 0.76 159,000 France Government Bond OAT 0.75% 25/05/2028 174,240 0.11 243,000 France Government Bond OAT 5.50% 25/04/2029 367,013 0.23 743,700 France Government Bond OAT 2.5% 25/05/2030 949,960 0.61

ANIMA Funds Plc 520 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.31% (2019: 96.10%)

France (continued): 6.17%

Government Bonds (continued): 6.17% 309,100 France Government Bond OAT 1.50% 25/05/2031 368,929 0.24 398,312 France Government Bond OAT 4.75% 25/04/2035 682,839 0.44 585,755 France Government Bond OAT 4.50% 25/04/2041 1,109,774 0.71 109,700 France Government Bond OAT 3.25% 25/05/2045 189,516 0.12 440,000 France Government Bond OAT 4.00% 25/04/2060 1,010,728 0.65 240,000 French Republic Government Bond OAT 2.75% 25/10/2027 295,334 0.19 182,000 French Republic Government Bond OAT Zero Coupon 25/11/2029 188,751 0.12

Total France 9,635,723 6.17

Germany: 4.46%

Government Bonds: 4.46% 277,000 Bundesrepublik Deutschland Bundesanleihe 2.00% 04/01/2022 284,682 0.18 1,050,100 Bundesrepublik Deutschland Bundesanleihe 1.50% 15/02/2023 1,100,488 0.71 400,000 Bundesrepublik Deutschland Bundesanleihe 1.75% 15/02/2024 431,706 0.28 249,600 Bundesrepublik Deutschland Bundesanleihe 1.00% 15/08/2024 265,739 0.17 508,000 Bundesrepublik Deutschland Bundesanleihe 1.00% 15/08/2025 549,819 0.35 24,100 Bundesrepublik Deutschland Bundesanleihe 0.50% 15/02/2026 25,667 0.02 580,000 Bundesrepublik Deutschland Bundesanleihe 0.25% 15/02/2027 615,517 0.39 1,081,000 Bundesrepublik Deutschland Bundesanleihe 0.25% 15/08/2028 1,159,398 0.74 169,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/08/2030 178,535 0.11 295,000 Bundesrepublik Deutschland Bundesanleihe 4.75% 04/07/2034 511,914 0.33 27,900 Bundesrepublik Deutschland Bundesanleihe 4.25% 04/07/2039 52,668 0.03 397,000 Bundesrepublik Deutschland Bundesanleihe 4.75% 04/07/2040 808,494 0.52 125,000 Bundesrepublik Deutschland Bundesanleihe 2.50% 04/07/2044 209,927 0.14 68,000 Bundesrepublik Deutschland Bundesanleihe 2.5% 15/08/2046 117,220 0.07 309,000 Bundesrepublik Deutschland Bundesanleihe 1.25% 15/08/2048 435,227 0.28 152,000 Bundesrepublik Deutschland Bundesanleihe 6.50% 01/12/2051 225,452 0.14

Total Germany 6,972,453 4.46

Ireland: 0.34%

Government Bonds: 0.34% 95,000 Ireland Government Bond 1.00% 15/05/2026 103,192 0.07 162,000 Ireland Government Bond 2.40% 15/05/2030 204,517 0.13 77,000 Ireland Government Bond 1.30% 15/05/2033 91,407 0.06 65,000 Ireland Government Bond 2.00% 18/02/2045 93,386 0.06 30,000 Ireland Government Bond 1.50% 15/05/2050 40,182 0.02

Total Ireland 532,684 0.34

Italy: 5.55%

Government Bonds: 5.55% 260,000 Italy Buoni Poliennali Del Tesoro 5.50% 01/09/2022 285,587 0.18 759,000 Italy Buoni Poliennali Del Tesoro 5.50% 01/11/2022 841,036 0.54

ANIMA Funds Plc 521 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.31% (2019: 96.10%)

Italy (continued): 5.55%

Government Bonds (continued): 5.55% 592,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/08/2023 671,210 0.43 893,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 954,706 0.61 35,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/09/2024 40,079 0.02 229,000 Italy Buoni Poliennali Del Tesoro 2.50% 01/12/2024 253,001 0.16 131,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/03/2025 159,283 0.10 193,000 Italy Buoni Poliennali Del Tesoro 2.00% 01/12/2025 212,645 0.14 260,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/03/2026 320,600 0.20 457,000 Italy Buoni Poliennali Del Tesoro 2.20% 01/06/2027 516,986 0.33 452,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2028 603,922 0.39 600,000 Italy Buoni Poliennali Del Tesoro 1.35% 01/04/2030 649,270 0.42 97,000 Italy Buoni Poliennali Del Tesoro 6.00% 01/05/2031 149,823 0.10 200,000 Italy Buoni Poliennali Del Tesoro 5.75% 01/02/2033 316,780 0.20 372,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/08/2034 572,321 0.37 533,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/08/2039 884,897 0.57 168,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2044 286,961 0.18 364,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 515,533 0.33 193,000 Italy Buoni Poliennali Del Tesoro 6.50% 01/12/2051 275,125 0.18 123,000 Italy Buoni Poliennali Del Tesoro 2.80% 01/03/2067 164,809 0.10

Total Italy 8,674,574 5.55

Japan: 23.94%

Government Bonds: 23.94% 57,100,000 Japan Government Five Year Bond 0.10% 20/03/2023 454,312 0.29 4,500,000 Japan Government Forty Year Bond 2.20% 20/03/2051 50,662 0.03 290,650,000 Japan Government Forty Year Bond 1.70% 20/03/2054 3,008,968 1.93 100,000 Japan Government Ten Year Bond 1.00% 20/12/2021 800 0.00 434,250,000 Japan Government Ten Year Bond 0.80% 20/09/2022 3,491,486 2.24 67,000,000 Japan Government Ten Year Bond 0.80% 20/12/2022 539,912 0.35 63,200,000 Japan Government Ten Year Bond 0.60% 20/03/2023 508,270 0.33 107,750,000 Japan Government Ten Year Bond 0.80% 20/09/2023 874,305 0.56 75,250,000 Japan Government Ten Year Bond 0.60% 20/03/2024 609,486 0.39 58,700,000 Japan Government Ten Year Bond 0.60% 20/06/2024 476,267 0.30 197,250,000 Japan Government Ten Year Bond 0.50% 20/09/2024 1,597,388 1.02 94,450,000 Japan Government Ten Year Bond 0.40% 20/09/2025 765,968 0.49 97,650,000 Japan Government Ten Year Bond 0.30% 20/12/2025 788,642 0.51 178,900,000 Japan Government Ten Year Bond 0.10% 20/06/2027 1,434,028 0.92 10,250,000 Japan Government Ten Year Bond 0.10% 20/03/2028 82,190 0.05 25,300,000 Japan Government Thirty Year Bond 1.10% 01/12/2030 223,857 0.14 168,300,000 Japan Government Thirty Year Bond 2.40% 20/09/2038 1,802,113 1.15 87,050,000 Japan Government Thirty Year Bond 2.00% 20/09/2040 897,716 0.57 106,400,000 Japan Government Thirty Year Bond 2.00% 20/09/2041 1,104,206 0.71 60,300,000 Japan Government Thirty Year Bond 2.00% 20/03/2042 627,844 0.40 41,100,000 Japan Government Thirty Year Bond 1.90% 20/09/2042 422,822 0.27 137,950,000 Japan Government Thirty Year Bond 1.50% 20/12/2044 1,338,807 0.86 47,450,000 Japan Government Thirty Year Bond 0.80% 20/03/2048 396,141 0.25 169,350,000 Japan Government Twenty Year Bond 2.10% 20/03/2025 1,466,118 0.94 272,700,000 Japan Government Twenty Year Bond 2.10% 20/12/2026 2,441,933 1.56

ANIMA Funds Plc 522 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.31% (2019: 96.10%)

Japan (continued): 23.94%

Government Bonds (continued): 23.94% 68,150,000 Japan Government Twenty Year Bond 2.10% 20/09/2028 629,972 0.40 447,800,000 Japan Government Twenty Year Bond 2.10% 20/09/2029 4,204,113 2.69 93,550,000 Japan Government Twenty Year Bond 1.90% 20/09/2030 875,372 0.56 143,700,000 Japan Government Twenty Year Bond 0.80% 01/12/2030 1,163,497 0.75 159,950,000 Japan Government Twenty Year Bond 1.80% 20/09/2031 1,500,277 0.96 79,250,000 Japan Government Twenty Year Bond 1.70% 20/12/2032 745,076 0.48 124,700,000 Japan Government Twenty Year Bond 1.60% 20/12/2033 1,169,210 0.75 77,100,000 Japan Government Twenty Year Bond 1.50% 20/06/2034 717,112 0.46 57,700,000 Japan Government Twenty Year Bond 1.20% 20/09/2035 520,899 0.33 18,900,000 Japan Government Twenty Year Bond 1.00% 20/12/2035 166,294 0.11 35,850,000 Japan Government Twenty Year Bond 0.40% 20/03/2036 290,063 0.19

Total Japan 37,386,126 23.94

Netherlands: 1.20%

Government Bonds: 1.20% 29,500 Netherlands Government Bond Zero Coupon 15/01/2022 29,714 0.02 276,500 Netherlands Government Bond 1.75% 15/07/2023 294,005 0.19 292,000 Netherlands Government Bond 2.00% 15/07/2024 320,445 0.21 246,000 Netherlands Government Bond 0.50% 15/07/2026 262,225 0.17 121,000 Netherlands Government Bond 5.50% 15/01/2028 174,259 0.11 141,000 Netherlands Government Bond Zero Coupon 15/07/2030 147,738 0.09 79,800 Netherlands Government Bond 2.50% 15/01/2033 108,632 0.07 63,000 Netherlands Government Bond 4.00% 15/01/2037 108,108 0.07 128,000 Netherlands Government Bond 3.75% 15/01/2042 239,219 0.15 87,000 Netherlands Government Bond 2.75% 15/01/2047 155,518 0.10 28,000 Netherlands Government Bond Zero Coupon 15/01/2052 28,779 0.02

Total Netherlands 1,868,642 1.20

Portugal: 0.39%

Government Bonds: 0.39% 138,000 Portugal Obrigacoes do Tesouro OT 2.88% 15/10/2025 160,085 0.10 179,000 Portugal Obrigacoes do Tesouro OT 2.13% 17/10/2028 210,866 0.13 35,000 Portugal Obrigacoes do Tesouro OT 3.88% 15/02/2030 47,431 0.03 64,000 Portugal Obrigacoes do Tesouro OT 2.25% 18/04/2034 80,544 0.05 56,000 Portugal Obrigacoes do Tesouro OT 4.10% 15/04/2037 88,481 0.06 15,000 Portugal Obrigacoes do Tesouro OT 4.10% 15/02/2045 26,070 0.02

Total Portugal 613,477 0.39

ANIMA Funds Plc 523 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.31% (2019: 96.10%)

Slovakia: 0.06%

Government Bonds: 0.06% 74,000 Slovakia Government Bond 4.35% 14/10/2025 91,662 0.06

Total Slovakia 91,662 0.06

Spain: 3.44%

Government Bonds: 3.44% 71,000 Spain Government Bond 0.40% 30/04/2022 71,953 0.05 629,000 Spain Government Bond 5.40% 31/01/2023 707,493 0.45 76,000 Spain Government Bond 3.8% 30/04/2024 87,067 0.05 461,000 Spain Government Bond 2.75% 31/10/2024 518,948 0.33 322,000 Spain Government Bond 2.15% 31/10/2025 362,580 0.23 660,000 Spain Government Bond 1.50% 30/04/2027 736,540 0.47 185,000 Spain Government Bond 5.15% 31/10/2028 262,146 0.17 252,000 Spain Government Bond 6.00% 31/01/2029 377,389 0.24 568,000 Spain Government Bond 0.50% 30/04/2030 595,035 0.38 33,000 Spain Government Bond 5.75% 30/07/2032 54,221 0.04 304,000 Spain Government Bond 2.35% 30/07/2033 383,424 0.25 43,000 Spain Government Bond 4.20% 31/01/2037 68,392 0.04 244,000 Spain Government Bond 4.90% 30/07/2040 440,835 0.28 128,000 Spain Government Bond 5.15% 31/10/2044 252,781 0.16 161,000 Spain Government Bond 2.90% 31/10/2046 241,097 0.15 121,000 Spain Government Bond 3.45% 30/07/2066 218,599 0.15

Total Spain 5,378,500 3.44

Switzerland: 0.12%

Government Bonds: 0.12% 64,000 Switzerland Government Bond 1.25% 11/06/2024 63,322 0.04 29,000 Switzerland Government Bond 2.50% 08/03/2036 38,662 0.03 40,000 Switzerland Government Bond 4.00% 01/12/2051 83,812 0.05

Total Switzerland 185,796 0.12

United Kingdom: 6.68%

Government Bonds: 6.68% 424,000 United Kingdom Gilt 4.00% 07/03/2022 496,758 0.32 73,500 United Kingdom Gilt 1.75% 07/09/2022 84,748 0.05 157,000 United Kingdom Gilt 0.75% 22/07/2023 179,296 0.11 355,900 United Kingdom Gilt 2.25% 07/09/2023 422,786 0.27 141,700 United Kingdom Gilt 2.75% 07/09/2024 174,893 0.11 355,000 United Kingdom Gilt 2.00% 07/09/2025 435,848 0.28 698,000 United Kingdom Gilt 1.25% 22/07/2027 842,572 0.54 38,000 United Kingdom Gilt 4.25% 07/12/2027 54,909 0.03 555,000 United Kingdom Gilt 0.88% 22/10/2029 659,530 0.42 249,000 United Kingdom Gilt 4.75% 07/12/2030 402,651 0.26

ANIMA Funds Plc 524 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.31% (2019: 96.10%)

United Kingdom (continued): 6.68%

Government Bonds (continued): 6.68% 351,900 United Kingdom Gilt 4.50% 07/09/2034 607,572 0.39 450,000 United Kingdom Gilt 4.25% 07/09/2039 827,155 0.53 211,000 United Kingdom Gilt 4.50% 07/12/2042 419,290 0.27 70,000 United Kingdom Gilt 3.25% 22/01/2044 120,348 0.08 287,000 United Kingdom Gilt 3.50% 22/01/2045 517,057 0.33 310,000 United Kingdom Gilt 4.25% 07/12/2049 664,893 0.43 245,100 United Kingdom Gilt 4.25% 01/12/2051 414,228 0.27 425,000 United Kingdom Gilt 5.00% 01/12/2051 576,330 0.37 177,000 United Kingdom Gilt 6.00% 01/12/2051 289,827 0.19 161,300 United Kingdom Gilt 3.75% 22/07/2052 334,561 0.21 278,800 United Kingdom Gilt 4.25% 07/12/2055 654,359 0.42 517,000 United Kingdom Gilt 3.50% 22/07/2068 1,255,639 0.80

Total United Kingdom 10,435,250 6.68

United States: 35.41%

Government Bonds: 35.41% 764,000 United States Treasury Note/Bond 4.50% 01/06/2021 915,521 0.59 1,099,000 United States Treasury Note/Bond 2.00% 15/02/2022 917,047 0.59 1,837,000 United States Treasury Note/Bond 1.75% 31/03/2022 1,531,866 0.98 565,000 United States Treasury Note/Bond 1.75% 30/04/2022 471,800 0.30 1,062,300 United States Treasury Note/Bond 1.75% 15/05/2022 887,543 0.57 288,000 United States Treasury Note/Bond 4.50% 01/06/2022 359,673 0.23 3,170,000 United States Treasury Note/Bond 1.63% 15/08/2022 2,653,670 1.70 1,748,000 United States Treasury Note/Bond 1.88% 31/10/2022 1,474,223 0.94 2,747,500 United States Treasury Note/Bond 1.63% 15/11/2022 2,307,969 1.48 2,141,700 United States Treasury Note/Bond 1.75% 31/01/2023 1,809,201 1.16 866,300 United States Treasury Note/Bond 2.75% 25/04/2023 876,315 0.56 3,239,000 United States Treasury Note/Bond 1.75% 15/05/2023 2,747,727 1.76 900,000 United States Treasury Note/Bond 1.25% 31/07/2023 756,453 0.48 2,450,000 United States Treasury Note/Bond 1.38% 30/09/2023 2,069,559 1.33 367,000 United States Treasury Note/Bond 2.75% 15/02/2024 323,966 0.21 394,000 United States Treasury Note/Bond 2.50% 15/05/2024 346,957 0.22 1,384,000 United States Treasury Note/Bond 2.38% 15/08/2024 1,218,975 0.78 8,576,400 United States Treasury Note/Bond 2.25% 15/11/2024 7,549,934 4.83 286,700 United States Treasury Note/Bond 4.38% 07/03/2025 358,681 0.23 806,000 United States Treasury Note/Bond 0.25% 31/08/2025 656,474 0.42 908,000 United States Treasury Note/Bond 2.25% 15/11/2025 810,226 0.52 641,000 United States Treasury Note/Bond 2.88% 30/11/2025 588,082 0.38 4,626,000 United States Treasury Note/Bond 2.00% 15/11/2026 4,113,837 2.63 255,000 United States Treasury Note/Bond 2.88% 04/07/2027 263,020 0.17 1,170,000 United States Treasury Note/Bond 3.63% 15/07/2027 1,351,764 0.87 3,297,000 United States Treasury Note/Bond 2.25% 15/08/2027 2,986,711 1.91 2,195,000 United States Treasury Note/Bond 3.38% 01/11/2027 2,449,036 1.57 1,024,000 United States Treasury Note/Bond 2.25% 15/01/2028 955,776 0.61 1,999,000 United States Treasury Note/Bond 2.75% 28/03/2028 2,044,256 1.31 488,000 United States Treasury Note/Bond 2.88% 15/05/2028 461,890 0.30 76,000 United States Treasury Note/Bond 3.88% 07/12/2028 88,896 0.06

ANIMA Funds Plc 525 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.31% (2019: 96.10%)

United States (continued): 35.41%

Government Bonds (continued): 35.41% 310,000 United States Treasury Note/Bond 3.00% 31/01/2029 330,656 0.21 1,275,000 United States Treasury Note/Bond 2.38% 25/04/2029 1,221,600 0.78 148,000 United States Treasury Note/Bond 2.38% 15/05/2029 136,627 0.09 116,000 United States Treasury Note/Bond 6.25% 01/06/2029 109,960 0.07 2,428,000 United States Treasury Note/Bond 1.75% 15/11/2029 2,143,374 1.37 1,308,000 United States Treasury Note/Bond 0.63% 15/08/2030 1,041,627 0.67 315,600 United States Treasury Note/Bond 2.75% 07/06/2032 319,027 0.20 1,312,700 United States Treasury Note/Bond 5.25% 01/06/2033 1,453,644 0.93 509,100 United States Treasury Note/Bond 3.13% 07/03/2036 544,713 0.35 85,000 United States Treasury Note/Bond 5.38% 01/06/2041 99,812 0.06 753,200 United States Treasury Note/Bond 3.50% 01/12/2045 834,840 0.53 818,000 United States Treasury Note/Bond 2.00% 15/02/2050 724,563 0.46

Total United States 55,307,491 35.41

Total Bonds 147,289,551 94.31

Total Value of Investments (Cost: EUR 148,193,816) 147,289,551 94.31

Cash and Cash Equivalents 7,008,868 4.49

Other Net Assets 1,875,917 1.20

Net Assets Attributable to Holders of Redeemable Participating Shares 156,174,336 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 89.84 Other Assets 10.16

100.00

ANIMA Funds Plc 526 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Corporate Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 90.48% (2019: 81.32%)

Australia: 1.42%

Corporate Bonds: 1.42% 3,400,000 BHP Billiton Finance Ltd FRN 22/04/2076 3,440,392 0.85 2,000,000 BHP Billiton Finance Ltd FRN 22/10/2079 2,329,072 0.57

Total Australia 5,769,464 1.42

Austria: 0.46%

Corporate Bonds: 0.46% 1,800,000 Telekom Finanzmanagement GmbH 3.13% 03/12/2021 1,855,980 0.46

Total Austria 1,855,980 0.46

Belgium: 0.14%

Corporate Bonds: 0.14% 500,000 Solvay SA 2.75% 02/12/2027 584,785 0.14

Total Belgium 584,785 0.14

China: 1.61%

Corporate Bonds: 1.61% 6,500,000 Bank of China Ltd 0.50% 13/03/2022 6,527,729 1.61

Total China 6,527,729 1.61

Denmark: 1.03%

Corporate Bonds: 1.03% 3,000,000 Danske Bank A/S 1.38% 24/05/2022 3,061,380 0.75 1,000,000 Orsted A/S FRN 31/12/2099 1,132,500 0.28

Total Denmark 4,193,880 1.03

France: 3.12%

Corporate Bonds: 3.12% 3,900,000 BNP Paribas SA FRN 20/03/2026 3,922,043 0.97 2,400,000 BNP Paribas SA FRN 29/12/2049 2,544,000 0.63 4,000,000 Orange SA 0.50% 15/01/2022 4,030,800 1.00 500,000 Solvay Finance SA FRN 29/12/2049 570,657 0.14 1,000,000 Total Capital SA 3.13% 16/09/2022 1,058,278 0.26 500,000 Total SA FRN 31/12/2049 500,840 0.12

Total France 12,626,618 3.12

ANIMA Funds Plc 527 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Corporate Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 90.48% (2019: 81.32%)

Germany: 9.72%

Corporate Bonds: 9.72% 2,000,000 Bertelsmann SE & Co KGaA FRN 23/04/2075 2,064,040 0.51 11,800,000 Commerzbank AG 7.75% 16/03/2021 11,963,760 2.95 2,000,000 Deutsche Bank AG 0.38% 18/01/2021 2,000,392 0.50 7,598,000 EnBW Energie Baden-Wuerttemberg AG FRN 02/04/2076 7,651,186 1.89 5,000,000 Infineon Technologies AG 0.75% 24/06/2023 5,108,530 1.26 4,500,000 Schaeffler AG 1.13% 26/03/2022 4,533,750 1.12 6,000,000 Volkswagen Leasing GmbH 0.50% 20/06/2022 6,048,780 1.49

Total Germany 39,370,438 9.72

Italy: 45.14%

Corporate Bonds: 34.16% 2,500,000 Aeroporti di Roma SpA 3.25% 20/02/2021 2,509,780 0.62 5,500,000 Agenzia Nazionale per l’Attrazione degli Investimenti e lo Sviluppo d’Impresa 5,597,746 1.38 1.38% 20/07/2022 4,500,000 AMCO - Asset Management Co SpA 1.50% 07/07/2023 4,663,067 1.15 2,000,000 Assicurazioni Generali SpA FRN 29/12/2049 2,339,416 0.58 10,000,000 Autostrade per l’Italia SpA 2.88% 26/02/2021 9,979,480 2.46 2,000,000 Autostrade per l’Italia SpA 1.13% 04/11/2021 1,977,600 0.49 2,500,000 Banca Farmafactoring SpA 1.75% 23/05/2023 2,544,290 0.63 5,000,000 Banca Monte dei Paschi di Siena SpA 2.88% 16/04/2021 5,044,890 1.25 1,500,000 Banca Monte dei Paschi di Siena SpA 4.00% 10/07/2022 1,552,762 0.38 1,500,000 Banco BPM SpA 7.13% 01/03/2021 1,513,248 0.37 5,000,000 Banco BPM SpA 2.00% 08/03/2022 5,095,720 1.26 3,100,000 CDP Reti SpA 1.88% 29/05/2022 3,157,226 0.78 3,000,000 Credito Valtellinese SpA 2.00% 27/11/2022 3,070,989 0.76 2,000,000 Enel SpA FRN 24/09/2073 1,908,872 0.47 4,298,000 Enel SpA FRN 10/01/2074 4,834,175 1.19 9,177,000 Enel SpA FRN 24/05/2080 10,014,401 2.47 2,000,000 Eni SpA FRN 31/12/2099 2,086,500 0.52 4,000,000 FCA Bank SpA 0.63% 24/11/2022 4,042,400 1.00 1,000,000 FCA Bank SpA 0.50% 08/09/2023 1,009,280 0.25 2,500,000 Illimity Bank SpA 3.38% 11/12/2023 2,545,079 0.63 1,000,000 Intesa Sanpaolo SpA 6.50% 24/02/2021 823,799 0.20 1,000,000 Intesa Sanpaolo SpA FRN 29/12/2049 1,001,250 0.25 400,000 Iren SpA 2.75% 02/11/2022 419,682 0.10 1,000,000 Kedrion SpA 3.00% 12/07/2022 995,500 0.25 1,500,000 Mediobanca Banca di Credito Finanziario SpA 1.63% 19/01/2021 1,501,113 0.37 3,000,000 Poste Italiane SpA Zero Coupon 10/12/2024 2,996,070 0.74 9,400,000 Telecom Italia SpA 4.50% 25/01/2021 9,437,600 2.33 4,100,000 Terna Rete Elettrica Nazionale SpA 4.75% 15/03/2021 4,139,401 1.02 5,400,000 UniCredit SpA 6.13% 19/04/2021 5,488,560 1.35 12,000,000 UniCredit SpA 6.57% 14/01/2022 10,335,341 2.55 2,000,000 UniCredit SpA 6.95% 31/10/2022 2,224,832 0.55 3,000,000 Unione di Banche Italiane SpA 1.00% 22/07/2022 3,051,000 0.75 3,500,000 Unione di Banche Italiane SpA 0.75% 17/10/2022 3,551,940 0.88 1,000,000 Unione di Banche Italiane SpA 1.75% 12/04/2023 1,032,152 0.25 500,000 Unione di Banche Italiane SpA FRN 05/05/2026 505,977 0.13

ANIMA Funds Plc 528 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Corporate Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 90.48% (2019: 81.32%)

Italy (continued): 45.14%

Corporate Bonds (continued): 34.16% 11,681,000 Unipol Gruppo SpA 4.38% 05/03/2021 11,761,132 2.90 3,633,000 UnipolSai Assicurazioni SpA FRN 15/06/2021 3,630,355 0.90

Government Bonds: 10.98% 4,000,000 Cassa Depositi e Prestiti SpA 1.50% 20/04/2023 4,152,856 1.03 15,000,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/09/2021 17,398,484 4.29 18,000,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 18,914,707 4.67 1,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 1,503,615 0.37 2,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 2,512,349 0.62

Total Italy 182,864,636 45.14

Luxembourg: 2.37%

Corporate Bonds: 2.37% 2,000,000 ArcelorMittal SA 1.00% 19/05/2023 2,016,336 0.50 3,000,000 CK Hutchison Group Telecom Finance SA 0.38% 17/10/2023 3,026,502 0.75 4,500,000 Fiat Chrysler Finance Europe SENC 4.75% 22/03/2021 4,543,110 1.12

Total Luxembourg 9,585,948 2.37

Mexico: 0.21%

Corporate Bonds: 0.21% 1,000,000 America Movil SAB de CV 3.13% 16/07/2022 847,714 0.21

Total Mexico 847,714 0.21

Netherlands: 7.83%

Corporate Bonds: 7.83% 3,000,000 Cooperatieve Rabobank UA FRN 26/05/2026 3,029,412 0.75 1,000,000 ING Bank NV FRN 25/02/2026 1,004,910 0.25 1,000,000 JT International Financial Services BV FRN 07/04/2081 1,063,760 0.26 2,000,000 LeasePlan Corp NV 1.00% 25/02/2022 2,025,700 0.50 5,002,000 Repsol International Finance BV FRN 29/12/2049 5,033,153 1.24 6,000,000 Upjohn Finance BV 0.82% 23/06/2022 6,080,016 1.50 2,000,000 Upjohn Finance BV 1.02% 23/06/2024 2,059,820 0.51 9,800,000 Volkswagen International Finance NV FRN 29/03/2049 9,856,487 2.44 1,500,000 Vonovia Finance BV FRN 29/12/2049 1,548,708 0.38

Total Netherlands 31,701,966 7.83

ANIMA Funds Plc 529 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Corporate Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 90.48% (2019: 81.32%)

Romania: 1.24%

Corporate Bonds: 1.24% 5,000,000 UniCredit Leasing Corp IFN SA 0.50% 18/10/2022 5,019,110 1.24

Total Romania 5,019,110 1.24

Spain: 3.00%

Corporate Bonds: 3.00% 1,000,000 Banco Bilbao Vizcaya Argentaria SA FRN 29/12/2049 1,020,500 0.25 5,500,000 Banco de Sabadell SA FRN 29/06/2023 5,636,290 1.39 2,000,000 Banco Santander SA FRN 09/11/2049 2,042,844 0.51 3,000,000 Telefonica Emisiones SA 3.96% 26/03/2021 3,027,750 0.75 400,000 Telefonica Emisiones SA 2.24% 27/05/2022 413,880 0.10

Total Spain 12,141,264 3.00

Switzerland: 1.07%

Corporate Bonds: 1.07% 3,500,000 UBS AG FRN 12/02/2026 3,513,937 0.87 1,000,000 UBS Group AG FRN 29/12/2049 839,769 0.20

Total Switzerland 4,353,706 1.07

United Kingdom: 10.89%

Corporate Bonds: 10.89% 6,400,000 Barclays Bank Plc 6.00% 04/01/2021 6,409,280 1.58 4,100,000 Barclays Bank Plc 10.00% 21/05/2021 4,729,110 1.17 2,400,000 Barclays Plc 1.50% 01/04/2022 2,449,032 0.60 2,000,000 FCE Bank Plc 1.66% 11/02/2021 2,000,000 0.49 500,000 International Game Technology Plc 4.75% 15/02/2023 522,500 0.13 2,000,000 NatWest Markets Plc 0.63% 02/03/2022 2,016,208 0.50 8,000,000 NatWest Markets Plc FRN 18/06/2021 8,020,000 1.98 2,500,000 NatWest Markets Plc FRN 27/09/2021 2,512,960 0.62 4,205,000 Santander UK Group Holdings Plc FRN 29/12/2049 4,903,354 1.21 4,300,000 Sky Ltd 1.50% 15/09/2021 4,354,042 1.08 6,179,000 SSE Plc FRN 29/12/2049 6,203,098 1.53

Total United Kingdom 44,119,584 10.89

United States: 1.23%

Corporate Bonds: 1.23% 1,000,000 Ford Motor Co 8.50% 21/04/2023 921,564 0.23 3,600,000 General Motors Financial Co Inc 4.38% 25/09/2021 3,021,685 0.75

ANIMA Funds Plc 530 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Corporate Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 90.48% (2019: 81.32%)

United States (continued): 1.23%

Corporate Bonds (continued): 1.23% 1,000,000 Goldman Sachs Group Inc 4.75% 12/10/2021 1,034,430 0.25

Total United States 4,977,679 1.23

Total Bonds 366,540,501 90.48

Forward Currency Contracts: 0.07% (2019: (0.08%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Credit EUR 766,769 USD 900,000 12/01/2021 31,342 0.01 Agricole Credit GBP 1,000,000 EUR 1,111,797 12/01/2021 5,274 0.00 Agricole Goldman EUR 8,490,671 GBP 7,600,000 12/01/2021 930 0.00 Sachs Morgan EUR 16,403,725 USD 19,700,000 12/01/2021 306,060 0.08 Stanley Morgan GBP 100,000 EUR 111,088 12/01/2021 619 0.00 Stanley

Total Fair Value Gains on Forward Currency Contracts 344,225 0.09

Credit USD 800,000 EUR 674,789 12/01/2021 (21,076) (0.01) Agricole Morgan EUR 4,970,562 GBP 4,500,000 12/01/2021 (56,259) (0.01) Stanley Morgan USD 200,000 EUR 171,369 12/01/2021 (7,941) (0.00) Stanley

Total Fair Value Losses on Forward Currency Contracts (85,276) (0.02)

Total Forward Currency Contracts 258,949 0.07

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 364,980,808) 366,799,450 90.55

Cash and Cash Equivalents 32,291,762 7.97

Other Net Assets 6,011,905 1.48

Net Assets Attributable to Holders of Redeemable Participating Shares 405,103,117 100.00

ANIMA Funds Plc 531 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Short Term Corporate Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 90.32 Over the counter financial derivative instruments 0.09 Other Assets 9.59

100.00

ANIMA Funds Plc 532 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 98.73% (2019: 96.54%)

Belgium: 1.71%

Banks: 0.26% 15,128 KBC Group NV 866,532 0.26

Beverages: 0.53% 31,466 Anheuser-Busch InBev SA 1,793,876 0.53

Chemicals: 0.58% 50,000 Umicore SA 1,964,500 0.58

Pharmaceuticals: 0.34% 13,662 UCB SA 1,154,166 0.34

Total Belgium 5,779,074 1.71

Cyprus: 0.51%

Mining: 0.51% 90,767 Polymetal International Plc 1,708,165 0.51

Total Cyprus 1,708,165 0.51

Denmark: 2.31%

Beverages: 0.52% 13,384 Carlsberg A/S 1,753,495 0.52

Computers & Peripherals: 0.67% 26,872 Netcompany Group A/S 2,247,316 0.67

Electric: 0.22% 4,341 Orsted A/S 725,204 0.22

Pharmaceuticals: 0.90% 53,258 Novo Nordisk A/S 3,052,681 0.90

Total Denmark 7,778,696 2.31

Finland: 0.78%

Banks: 0.35% 177,791 Nordea Bank Abp 1,189,347 0.35

Insurance: 0.22% 21,201 Sampo OYJ 732,918 0.22

Machinery - Diversified: 0.03% 1,595 Kone OYJ 106,004 0.03

ANIMA Funds Plc 533 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73 % (2019: 96.54%)

Finland (continued): 0.78%

Paper & Forest Products: 0.18% 20,000 UPM-Kymmene OYJ 609,400 0.18

Total Finland 2,637,669 0.78

France: 20.79%

Aerospace & Defense: 0.46% 13,323 Safran SA 1,544,802 0.46

Apparel Retail: 1.94% 12,821 LVMH Moet Hennessy Louis Vuitton SE 6,550,249 1.94

Banks: 1.55% 76,159 BNP Paribas SA 3,282,834 0.97 90,577 Credit Agricole SA 934,754 0.28 60,000 Societe Generale SA 1,021,320 0.30

Beverages: 0.50% 10,632 Pernod Ricard SA 1,667,098 0.50

Building Products: 0.33% 30,000 Cie de Saint-Gobain 1,125,000 0.33

Chemicals: 0.85% 21,249 Air Liquide SA 2,852,678 0.85

Commercial Services & Supplies: 1.61% 29,189 Edenred 1,354,662 0.40 51,662 Worldline SA 4,086,464 1.21

Computers & Peripherals: 1.14% 30,305 Capgemini SE 3,842,674 1.14

Construction & Engineering: 1.77% 75,638 Bouygues SA 2,545,219 0.75 23,872 Eiffage SA 1,886,843 0.56 18,971 Vinci SA 1,543,480 0.46

Cosmetics & Personal Care: 0.56% 6,024 L’Oreal SA 1,872,259 0.56

Diversified Financial Services: 0.30% 15,354 Amundi SA 1,025,647 0.30

Electical Components & Equipment: 1.08% 11,771 Legrand SA 859,283 0.25 23,611 Schneider Electric SE 2,793,181 0.83

ANIMA Funds Plc 534 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73 % (2019: 96.54%)

France (continued): 20.79%

Electric: 1.64% 209,422 Electricite de France SA 2,700,497 0.80 226,128 Engie SA 2,831,122 0.84

Food: 0.39% 93,287 Carrefour SA 1,308,817 0.39

Healthcare Products: 1.13% 29,964 EssilorLuxottica SA 3,821,908 1.13

Insurance: 0.56% 97,055 AXA SA 1,893,737 0.56

Media: 1.00% 127,898 Vivendi SA 3,373,949 1.00

Miscellaneous Manufacturers: 0.27% 19,750 Alstom SA 920,548 0.27

Oil & Gas: 1.36% 130,144 Total SA 4,594,083 1.36

Pharmaceuticals: 1.12% 48,000 Sanofi 3,777,600 1.12

Software: 0.61% 26,031 Ubisoft Entertainment SA 2,052,284 0.61

Telecommunications: 0.44% 152,329 Orange SA 1,482,771 0.44

Water: 0.18% 30,000 Veolia Environnement SA 600,300 0.18

Total France 70,146,063 20.79

Germany: 13.30%

Apparel Retail: 0.73% 8,235 adidas AG 2,453,206 0.73

Automobile Manufacturers: 1.03% 39,353 Daimler AG 2,274,210 0.67 7,898 Volkswagen AG Pref 1,203,813 0.36

Chemicals: 0.70% 36,316 BASF SE 2,350,372 0.70

Diversified Financial Services: 0.43% 10,488 Deutsche Boerse AG 1,460,454 0.43

ANIMA Funds Plc 535 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73 % (2019: 96.54%)

Germany (continued): 13.30%

Electric: 1.14% 111,531 RWE AG 3,855,627 1.14

Insurance: 1.93% 19,357 Allianz SE 3,884,950 1.15 5,000 Hannover Rueck SE 651,500 0.20 8,068 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 1,958,910 0.58

Miscellaneous Manufacturers: 1.61% 46,223 Siemens AG 5,432,127 1.61

Pharmaceuticals: 0.95% 40,136 Bayer AG 1,932,749 0.57 9,104 Merck KGaA 1,277,746 0.38

Retail: 0.86% 32,000 Zalando SE 2,913,920 0.86

Semiconductors: 0.81% 86,924 Infineon Technologies AG 2,728,544 0.81

Software: 1.51% 36,016 SAP SE 3,861,636 1.14 28,440 TeamViewer AG 1,246,525 0.37

Telecommunications: 0.64% 143,469 Deutsche Telekom AG 2,145,579 0.64

Transportation: 0.96% 80,000 Deutsche Post AG 3,240,000 0.96

Total Germany 44,871,868 13.30

Ireland: 1.79%

Building Products: 0.48% 30,000 CRH Plc 1,020,600 0.30 10,400 Kingspan Group Plc 596,960 0.18

Chemicals: 0.56% 8,942 Linde Plc 1,904,646 0.56

Forest Products: 0.75% 66,381 Smurfit Kappa Group Plc 2,525,133 0.75

Total Ireland 6,047,339 1.79

ANIMA Funds Plc 536 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73 % (2019: 96.54%)

Italy: 2.16%

Construction & Engineering: 0.50% 168,916 Infrastrutture Wireless Italiane SpA 1,677,336 0.50

Electric: 1.24% 504,254 Enel SpA 4,173,206 1.24

Insurance: 0.42% 100,852 Assicurazioni Generali SpA 1,438,149 0.42

Total Italy 7,288,691 2.16

Jersey, Channel Islands: 1.14%

Advertising: 0.81% 303,878 WPP Plc 2,715,939 0.81

Commercial Services & Supplies: 0.33% 36,250 Experian Plc 1,124,643 0.33

Total Jersey, Channel Islands 3,840,582 1.14

Luxembourg: 1.06%

Iron & Steel: 0.51% 90,000 ArcelorMittal SA 1,699,200 0.51

Oil & Gas Services: 0.55% 222,708 Subsea 7 SA 1,867,385 0.55

Total Luxembourg 3,566,585 1.06

Netherlands: 8.76%

Aerospace & Defense: 0.65% 24,598 Airbus SE 2,208,408 0.65

Banks: 0.37% 164,992 ING Groep NV 1,260,704 0.37

Chemicals: 0.99% 18,279 Akzo Nobel NV 1,605,993 0.48 12,262 Koninklijke DSM NV 1,726,490 0.51

Commercial Services & Supplies: 0.73% 1,287 Adyen NV 2,451,735 0.73

Food: 0.68% 24,667 Just Eat Takeaway.com NV 2,279,231 0.68

ANIMA Funds Plc 537 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73 % (2019: 96.54%)

Netherlands (continued): 8.76%

Health Care Providers & Services: 1.04% 80,137 Koninklijke Philips NV 3,508,398 1.04

Insurance: 0.35% 32,925 NN Group NV 1,169,825 0.35

Internet: 0.57% 21,864 Prosus NV 1,931,903 0.57

Media: 0.23% 11,400 Wolters Kluwer NV 787,284 0.23

Semiconductors: 2.90% 18,449 ASML Holding NV 7,334,400 2.17 80,555 STMicroelectronics NV 2,460,955 0.73

Telecommunications: 0.25% 340,000 Koninklijke KPN NV 845,580 0.25

Total Netherlands 29,570,906 8.76

Norway: 0.29%

Oil & Gas: 0.29% 71,206 Equinor ASA 985,236 0.29

Total Norway 985,236 0.29

Portugal: 1.77%

Electric: 1.77% 1,159,711 EDP - Energias de Portugal SA 5,979,470 1.77

Total Portugal 5,979,470 1.77

Spain: 3.10%

Banks: 1.05% 300,000 Banco Bilbao Vizcaya Argentaria SA 1,210,500 0.36 914,371 Banco Santander SA 2,320,673 0.69

Commercial Services & Supplies: 0.33% 19,003 Amadeus IT Group SA 1,131,819 0.33

Construction & Engineering: 0.33% 22,423 Cellnex Telecom SA 1,101,418 0.33

Electric: 1.22% 352,594 Iberdrola SA 4,125,350 1.22

ANIMA Funds Plc 538 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73 % (2019: 96.54%)

Spain (continued): 3.10%

Retail: 0.17% 21,983 Industria de Diseno Textil SA 572,437 0.17

Total Spain 10,462,197 3.10

Sweden: 3.22%

Agriculture: 0.72% 38,180 Swedish Match AB 2,423,375 0.72

Automobile Manufacturers: 0.52% 91,096 Volvo AB 1,756,926 0.52

Banks: 0.50% 198,844 Skandinaviska Enskilda Banken AB 1,672,128 0.50

Machinery Construction & Mining: 0.28% 47,023 Sandvik AB 942,008 0.28

Miscellaneous Manufacturers: 0.35% 52,946 Alfa Laval AB 1,192,389 0.35

Telecommunications: 0.85% 155,208 Tele2 AB 1,677,429 0.49 124,432 Telefonaktiebolaget LM Ericsson 1,209,094 0.36

Total Sweden 10,873,349 3.22

Switzerland: 15.92%

Banks: 1.45% 242,240 Credit Suisse Group AG 2,553,297 0.76 201,700 UBS Group AG 2,325,535 0.69

Beverages: 0.53% 67,101 Coca-Cola HBC AG 1,781,923 0.53

Building Products: 0.77% 1,512 Geberit AG 774,763 0.23 40,843 LafargeHolcim Ltd 1,836,045 0.54

Diversified Financial Services: 0.58% 41,466 Julius Baer Group Ltd 1,955,298 0.58

Electronics: 0.56% 82,303 ABB Ltd 1,880,351 0.56

Food: 4.50% 157,659 Nestle SA 15,198,023 4.50

ANIMA Funds Plc 539 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73 % (2019: 96.54%)

Switzerland (continued): 15.92%

Healthcare Services: 0.52% 3,333 Lonza Group AG 1,752,853 0.52

Insurance: 1.48% 22,127 Swiss RE AG 1,705,009 0.50 9,559 Zurich Insurance Group AG 3,301,062 0.98

Pharmaceuticals: 5.53% 98,480 Novartis AG 7,616,660 2.26 38,614 Roche Holding AG 11,031,991 3.27

Total Switzerland 53,712,810 15.92

United Kingdom: 20.12%

Agriculture: 1.67% 186,104 British American Tobacco Plc 5,630,346 1.67

Banks: 1.85% 1,129,972 Barclays Plc 1,851,695 0.55 859,030 HSBC Holdings Plc 3,635,853 1.08 143,577 Standard Chartered Plc 747,323 0.22

Beverages: 0.94% 98,643 Diageo Plc 3,171,669 0.94

Commercial Services & Supplies: 1.09% 183,216 RELX Plc 3,669,047 1.09

Computers & Peripherals: 0.52% 292,469 Avast Plc 1,756,261 0.52

Cosmetics & Personal Care: 1.67% 50,848 Unilever Plc 2,494,979 0.74 63,664 Unilever Plc 3,155,506 0.93

Diversified Financial Services: 0.41% 13,615 London Stock Exchange Group Plc 1,370,177 0.41

Electric: 0.41% 82,525 SSE Plc 1,382,953 0.41

Food: 0.49% 75,639 Compass Group Plc 1,151,787 0.34 199,120 Tesco Plc 514,765 0.15

Forest Products: 0.35% 61,286 Mondi Plc 1,177,319 0.35

ANIMA Funds Plc 540 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73 % (2019: 96.54%)

United Kingdom (continued): 20.12%

Gas: 0.41% 143,694 National Grid Plc 1,388,627 0.41

Healthcare Products: 0.20% 40,229 Smith & Nephew Plc 678,652 0.20

Household Products/Wares: 1.23% 56,772 Reckitt Benckiser Group Plc 4,149,306 1.23

Insurance: 1.66% 798,911 Aviva Plc 2,902,550 0.86 408,264 Legal & General Group Plc 1,214,171 0.36 99,236 Prudential Plc 1,493,370 0.44

Internet: 0.41% 26,200 ASOS Plc 1,400,014 0.41

Mining: 1.67% 47,851 Anglo American Plc 1,296,116 0.39 58,379 BHP Group Plc 1,255,504 0.37 50,426 Rio Tinto Plc 3,081,574 0.91

Miscellaneous Manufacturers: 0.25% 65,483 IMI Plc 852,286 0.25

Oil & Gas: 2.13% 647,808 BP Plc 1,844,066 0.55 195,172 Royal Dutch Shell Plc 2,829,802 0.84 178,446 Royal Dutch Shell Plc 2,510,737 0.74

Pharmaceuticals: 1.37% 56,352 AstraZeneca Plc 4,610,929 1.37

Retail: 0.40% 443,795 Kingfisher Plc 1,340,664 0.40

Telecommunications: 0.99% 560,000 BT Group Plc 827,398 0.24 1,865,739 Vodafone Group Plc 2,520,877 0.75

Total United Kingdom 67,906,323 20.12

Total Equities 333,155,023 98.73

ANIMA Funds Plc 541 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts: 0.22% (2019: 0.02%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Goldman EUR 2,979,690 CHF 3,200,000 22/01/2021 20,633 0.01 Sachs Goldman EUR 1,680,623 GBP 1,500,000 22/01/2021 5,293 0.00 Sachs Goldman GBP 20,000,000 EUR 21,680,792 22/01/2021 656,951 0.19 Sachs Goldman NOK 12,000,000 EUR 1,093,454 22/01/2021 51,528 0.02 Sachs Goldman SEK 7,000,000 EUR 684,111 22/01/2021 12,383 0.00 Sachs J.P. Morgan DKK 1,500,000 EUR 201,504 22/01/2021 7 0.00 J.P. Morgan EUR 466,386 CHF 500,000 22/01/2021 4,034 0.00 J.P. Morgan EUR 698,699 DKK 5,200,000 22/01/2021 128 0.00 J.P. Morgan GBP 2,850,000 EUR 3,144,292 22/01/2021 38,836 0.01 J.P. Morgan NOK 8,900,000 EUR 822,027 22/01/2021 27,168 0.01 J.P. Morgan SEK 25,300,000 EUR 2,436,443 22/01/2021 80,883 0.03 Morgan DKK 5,500,000 EUR 738,709 22/01/2021 164 0.00 Stanley Morgan EUR 3,889,527 CHF 4,200,000 22/01/2021 5,766 0.00 Stanley Morgan EUR 5,393,331 GBP 4,800,000 22/01/2021 32,272 0.01 Stanley Morgan EUR 586,698 USD 700,000 22/01/2021 14,834 0.00 Stanley Morgan GBP 1,600,000 EUR 1,767,347 22/01/2021 19,673 0.01 Stanley Morgan SEK 63,600,000 EUR 6,105,189 22/01/2021 222,953 0.07 Stanley

Total Fair Value Gains on Forward Currency Contracts 1,193,506 0.36

Goldman CHF 3,250,000 EUR 3,010,570 22/01/2021 (5,278) (0.00) Sachs Goldman DKK 25,700,000 EUR 3,454,169 22/01/2021 (1,619) (0.00) Sachs Goldman EUR 536,866 DKK 4,000,000 22/01/2021 (496) (0.00) Sachs Goldman EUR 11,532,043 GBP 10,450,000 22/01/2021 (139,428) (0.05) Sachs Goldman EUR 1,106,488 NOK 12,000,000 22/01/2021 (38,494) (0.01) Sachs Goldman EUR 2,800,621 SEK 29,000,000 22/01/2021 (84,853) (0.03) Sachs Goldman GBP 3,500,000 EUR 3,918,092 22/01/2021 (8,987) (0.00) Sachs J.P. Morgan CHF 1,800,000 EUR 1,680,847 22/01/2021 (16,377) (0.00) J.P. Morgan DKK 2,000,000 EUR 268,755 22/01/2021 (74) (0.00) J.P. Morgan EUR 3,001,458 GBP 2,700,000 22/01/2021 (14,137) (0.00) J.P. Morgan EUR 118,531 NOK 1,300,000 22/01/2021 (5,508) (0.00) J.P. Morgan EUR 785,305 SEK 8,100,000 22/01/2021 (20,638) (0.01) J.P. Morgan USD 700,000 EUR 590,419 22/01/2021 (18,555) (0.01) Morgan CHF 3,850,000 EUR 3,567,137 22/01/2021 (7,021) (0.00) Stanley

ANIMA Funds Plc 542 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Europe Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts (continued): 0.22%(2019: 0.02%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Morgan DKK 7,200,000 EUR 967,415 22/01/2021 (164) (0.00) Stanley Morgan EUR 8,617,809 GBP 7,800,000 22/01/2021 (93,911) (0.03) Stanley Morgan EUR 112,271 NOK 1,200,000 22/01/2021 (2,227) (0.00) Stanley Morgan EUR 297,494 SEK 3,100,000 22/01/2021 (10,954) (0.00) Stanley Morgan GBP 900,000 EUR 1,007,776 22/01/2021 (2,578) (0.00) Stanley

Total Fair Value Losses on Forward Currency Contracts (471,299) (0.14)

Total Forward Currency Contracts 722,207 0.22

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 302,380,129) 333,877,230 98.95

Cash and Cash Equivalents 3,753,185 1.11

Other Net Liabilities (201,933) (0.06)

Net Assets Attributable to Holders of Redeemable Participating Shares 337,428,482 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 97.77 Over the counter financial derivative instruments 0.35 Other Assets 1.88

100.00

ANIMA Funds Plc 543 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA U.S. Equity

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 99.34% (2019: 94.72%)

Cayman Islands: 0.92%

Internet: 0.92% 54,340 Tencent Holdings Ltd ADR 3,192,761 0.92

Total Cayman Islands 3,192,761 0.92

Ireland: 1.69%

Auto Components: 0.95% 31,200 Aptiv Plc 3,322,339 0.95

Healthcare Products: 0.47% 17,190 Medtronic Plc 1,645,733 0.47

Miscellaneous Manufacturers: 0.27% 5,100 Eaton Corp Plc 500,768 0.15 3,600 Trane Technologies Plc 427,098 0.12

Total Ireland 5,895,938 1.69

Israel: 1.88%

Computers & Peripherals: 1.18% 37,670 Check Point Software Technologies Ltd 4,091,962 1.18

Internet: 0.70% 12,000 Wix.com Ltd 2,451,490 0.70

Total Israel 6,543,452 1.88

Switzerland: 3.97%

Computers & Peripherals: 2.19% 96,175 Logitech International SA 7,639,450 2.19

Electronics: 1.78% 63,230 Garmin Ltd 6,183,730 1.78

Total Switzerland 13,823,180 3.97

United States: 90.88%

Apparel Retail: 2.20% 175,145 Levi Strauss & Co 2,874,351 0.82 17,410 NIKE Inc 2,012,989 0.58 228,485 Under Armour Inc 2,778,682 0.80

Automobile Manufacturers: 1.20% 581,380 Ford Motor Co 4,176,642 1.20

ANIMA Funds Plc 544 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA U.S. Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.34% (2019: 94.72%)

United States (continued): 90.88%

Banks: 3.02% 23,750 Citigroup Inc 1,196,866 0.34 15,740 Goldman Sachs Group Inc 3,392,420 0.98 14,490 Morgan Stanley 811,573 0.23 31,355 Northern Trust Corp 2,386,829 0.69 5,240 PNC Financial Services Group Inc 638,110 0.18 16,630 US Bancorp 633,233 0.18 58,840 Wells Fargo & Co 1,451,343 0.42

Beverages: 3.44% 4,570 Boston Beer Co Inc 3,713,707 1.07 32,960 Coca-Cola Co 1,477,280 0.42 61,560 Monster Beverage Corp 4,652,911 1.34 17,690 PepsiCo Inc 2,144,111 0.61

Biotechnology: 0.13% 1,150 Regeneron Pharmaceuticals Inc 454,069 0.13

Chemicals: 0.98% 3,100 Air Products and Chemicals Inc 692,234 0.20 15,345 Ecolab Inc 2,713,452 0.78

Commercial Services & Supplies: 2.02% 33,320 PayPal Holdings Inc 6,377,789 1.83 3,700 Square Inc 658,141 0.19

Computers & Peripherals: 9.55% 275,500 Apple Inc 29,877,077 8.58 74,725 Western Digital Corp 3,382,794 0.97

Cosmetics & Personal Care: 0.10% 3,020 Procter & Gamble Co 343,429 0.10

Distributors: 0.11% 9,200 Fastenal Co 367,158 0.11

Diversified Financial Services: 3.05% 89,340 AllianceBernstein Holding LP 2,465,786 0.71 8,770 American Express Co 866,643 0.25 1,890 BlackRock Inc 1,114,552 0.32 8,410 Mastercard Inc 2,453,407 0.70 20,870 Visa Inc 3,730,861 1.07

Electrical Equipment: 0.13% 7,000 Emerson Electric Co 459,801 0.13

Food: 0.75% 51,535 Kellogg Co 2,621,081 0.75

Hand & Machine Tools: 0.09% 2,180 Stanley Black & Decker Inc 318,141 0.09

ANIMA Funds Plc 545 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA U.S. Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.34% (2019: 94.72%)

United States (continued): 90.88%

Health Care Providers & Services: 0.14% 16,475 Boston Scientific Corp 484,064 0.14

Healthcare Products: 3.15% 18,480 Abbott Laboratories 1,653,692 0.47 5,210 Danaher Corp 945,895 0.27 8,430 Intuitive Surgical Inc 5,636,536 1.62 4,400 Stryker Corp 881,187 0.25 4,900 Thermo Fisher Scientific Inc 1,865,328 0.54

Healthcare Services: 1.18% 3,100 Anthem Inc 813,517 0.23 11,480 UnitedHealth Group Inc 3,290,268 0.95

Home Furnishings: 0.55% 24,040 Dolby Laboratories Inc 1,908,386 0.55

Household Products/Wares: 3.27% 87,300 Church & Dwight Co Inc 6,223,840 1.79 31,294 Clorox Co 5,164,386 1.48

Insurance: 1.31% 16 Berkshire Hathaway Inc 4,548,274 1.31

Internet: 9.17% 3,830 Alphabet Inc 5,483,798 1.58 5,605 Alphabet Inc 8,028,726 2.31 5,460 Amazon.com Inc 14,533,807 4.17 35,000 eBay Inc 1,437,416 0.41 4,730 Netflix Inc 2,090,354 0.60 8,158 Twitter Inc 361,044 0.10

Leisure Time: 0.79% 35,470 Polaris Inc 2,762,112 0.79

Machinery - Diversified: 0.40% 3,600 Deere & Co 791,615 0.23 1,600 Rockwell Automation Inc 327,977 0.10 3,100 Xylem Inc 257,896 0.07

Machinery Construction & Mining: 0.28% 6,500 Caterpillar Inc 966,965 0.28

Media: 1.61% 53,960 Comcast Corp 2,310,902 0.66 22,230 Walt Disney Co 3,291,759 0.95

Miscellaneous Manufacturers: 2.30% 7,925 3M Co 1,132,124 0.32 662,360 General Electric Co 5,846,503 1.68

ANIMA Funds Plc 546 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA U.S. Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.34% (2019: 94.72%)

United States (continued): 90.88%

Miscellaneous Manufacturers (continued): 2.30% 4,245 Illinois Tool Works Inc 707,344 0.20 1,500 Parker-Hannifin Corp 333,959 0.10

Oil & Gas: 1.22% 25,360 Chevron Corp 1,750,359 0.50 15,000 ConocoPhillips 490,254 0.14 10,000 EOG Resources Inc 407,585 0.12 47,170 Exxon Mobil Corp 1,589,103 0.46

Pharmaceuticals: 7.61% 22,145 AbbVie Inc 1,939,305 0.56 48,625 Agios Pharmaceuticals Inc 1,721,974 0.49 7,900 Amgen Inc 1,484,507 0.43 3,900 Becton Dickinson and Co 797,563 0.23 17,205 Biogen Inc 3,443,109 0.99 29,400 Bristol-Myers Squibb Co 1,490,484 0.43 4,400 Cigna Corp 748,635 0.21 75,820 CVS Health Corp 4,232,362 1.21 11,780 Eli Lilly and Co 1,625,545 0.47 33,570 Johnson & Johnson 4,317,966 1.24 26,850 Merck & Co Inc 1,795,047 0.51 67,965 Pfizer Inc 2,044,699 0.59 8,433 Viatris Inc 129,161 0.04 5,400 Zoetis Inc 730,416 0.21

Retail: 8.87% 5,955 Best Buy Co Inc 485,677 0.14 11,780 Burlington Stores Inc 2,518,131 0.72 8,555 Dollar General Corp 1,470,407 0.42 13,485 Home Depot Inc 2,927,454 0.84 8,300 McDonald’s Corp 1,455,612 0.42 4,025 O’Reilly Automotive Inc 1,488,778 0.43 62,000 Shake Shack Inc 4,295,991 1.24 50,435 Target Corp 7,276,606 2.09 75,950 Walmart Inc 8,947,892 2.57

Semiconductors: 2.87% 73,525 Advanced Micro Devices Inc 5,510,996 1.58 6,700 NVIDIA Corp 2,859,499 0.82 13,100 QUALCOMM Inc 1,631,036 0.47

Software: 14.71% 76,760 Activision Blizzard Inc 5,824,990 1.67 37,025 Citrix Systems Inc 3,936,866 1.13 31,800 Cloudflare Inc 1,974,976 0.57 247,690 Dropbox Inc 4,492,045 1.29 18,700 Intuit Inc 5,805,399 1.67 111,030 Microsoft Corp 20,183,314 5.80 40,235 Paychex Inc 3,064,115 0.88 9,825 salesforce.com Inc 1,786,897 0.51

ANIMA Funds Plc 547 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA U.S. Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.34% (2019: 94.72%)

United States (continued): 90.88%

Software (continued): 14.71% 23,350 VMware Inc 2,676,696 0.77 5,375 Zoom Video Communications Inc 1,481,832 0.42

Telecommunications: 1.03% 40,800 Corning Inc 1,200,441 0.35 49,290 Verizon Communications Inc 2,366,710 0.68

Toys, Games & Hobbies: 0.96% 43,720 Hasbro Inc 3,342,380 0.96

Transportation: 2.69% 71,140 Expeditors International of Washington Inc 5,529,914 1.59 3,100 FedEx Corp 657,776 0.19 3,100 Norfolk Southern Corp 602,011 0.17 7,925 Union Pacific Corp 1,348,652 0.39 8,965 United Parcel Service Inc 1,233,874 0.35

Total United States 316,432,177 90.88

Total Equities 345,887,508 99.34

Forward Currency Contracts: 0.03% (2019: (0.01%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Goldman EUR 5,017,940 USD 5,900,000 22/01/2021 197,943 0.06 Sachs J.P. Morgan EUR 15,448,933 USD 18,400,000 22/01/2021 417,082 0.11 Morgan EUR 37,804,698 USD 44,850,000 22/01/2021 1,164,559 0.34 Stanley

Total Fair Value Gains on Forward Currency Contracts 1,779,584 0.51

Goldman USD 2,500,000 EUR 2,048,269 22/01/2021 (5,897) (0.00) Sachs J.P. Morgan USD 32,350,000 EUR 27,278,239 22/01/2021 (849,956) (0.25) Morgan USD 37,400,000 EUR 31,378,183 22/01/2021 (824,312) (0.23) Stanley

Total Fair Value Losses on Forward Currency Contracts (1,680,165) (0.48)

Total Forward Currency Contracts 99,419 0.03

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 262,405,953) 345,986,927 99.37

ANIMA Funds Plc 548 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA U.S. Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents and Due From Broker 4,043,652 1.16

Other Net Liabilities (1,853,118) (0.53)

Net Assets Attributable to Holders of Redeemable Participating Shares 348,177,461 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 98.16 Over the counter financial derivative instruments 0.50 Other Assets 1.34

100.00

ANIMA Funds Plc 549 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Asia/Pacific Equity

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 85.92% (2019: 84.17%)

Austraclear New Zealand: 0.14%

Food: 0.14% 12,312 a2 Milk Co Ltd 88,906 0.14

Total Austraclear New Zealand 88,906 0.14

Australia: 17.26%

Banks: 5.95% 54,642 Australia & New Zealand Banking Group Ltd 782,260 1.25 16,086 Commonwealth Bank of Australia 832,996 1.34 3,278 Macquarie Group Ltd 286,283 0.46 70,623 National Australia Bank Ltd 1,006,592 1.61 65,863 Westpac Banking Corp 804,581 1.29

Commercial Services & Supplies: 0.76% 17,585 Brambles Ltd 117,557 0.19 41,233 Transurban Group 355,217 0.57

Electric: 0.11% 24,139 Origin Energy Ltd 72,464 0.11

Entertainment: 0.36% 11,429 Aristocrat Leisure Ltd 223,444 0.36

Food: 1.29% 26,668 Coles Group Ltd 305,089 0.49 20,241 Woolworths Group Ltd 501,804 0.80

Insurance: 0.37% 21,818 QBE Insurance Group Ltd 117,372 0.19 18,638 Suncorp Group Ltd 114,487 0.18

Iron & Steel: 1.17% 49,258 Fortescue Metals Group Ltd 727,860 1.17

Mining: 2.70% 37,891 BHP Group Ltd 1,013,930 1.62 11,822 Newcrest Mining Ltd 192,208 0.31 6,650 Rio Tinto Ltd 477,394 0.77

Oil & Gas: 0.46% 19,887 Woodside Petroleum Ltd 285,206 0.46

Pharmaceuticals: 1.61% 5,627 CSL Ltd 1,004,936 1.61

Real Estate Investment Trust: 1.33% 33,316 Dexus 197,506 0.32 53,085 Goodman Group 633,085 1.01

ANIMA Funds Plc 550 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Asia/Pacific Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 85.92% (2019: 84.17%)

Australia (continued): 17.26%

Retail: 0.88% 17,214 Wesfarmers Ltd 547,156 0.88

Telecommunications: 0.27% 89,617 Telstra Corp Ltd 168,424 0.27

Total Australia 10,767,851 17.26

Cayman Islands: 0.65%

Holding Companies - Diversified Operations: 0.41% 44,756 CK Hutchison Holdings Ltd 255,217 0.41

Lodging: 0.24% 42,400 Sands China Ltd 152,175 0.24

Total Cayman Islands 407,392 0.65

Hong Kong: 4.52%

Diversified Financial Services: 0.88% 12,312 Hong Kong Exchanges & Clearing Ltd 551,542 0.88

Electric: 0.54% 26,500 CLP Holdings Ltd 200,274 0.32 30,322 Power Assets Holdings Ltd 134,236 0.22

Gas: 0.32% 164,255 Hong Kong & China Gas Co Ltd 200,488 0.32

Hand & Machine Tools: 0.48% 25,573 Techtronic Industries Co Ltd 298,125 0.48

Insurance: 2.30% 143,400 AIA Group Ltd 1,435,931 2.30

Total Hong Kong 2,820,596 4.52

Japan: 61.05%

Aerospace & Defense: 0.38% 12,800 Kawasaki Heavy Industries Ltd 235,481 0.38

Agriculture: 0.29% 10,700 Japan Tobacco Inc 178,043 0.29

Airlines: 0.34% 13,600 Japan Airlines Co Ltd 214,779 0.34

ANIMA Funds Plc 551 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Asia/Pacific Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 85.92% (2019: 84.17%)

Japan (continued): 61.05%

Auto Components: 1.17% 5,400 Aisin Seiki Co Ltd 132,301 0.21 5,000 Bridgestone Corp 133,940 0.22 8,300 Denso Corp 403,024 0.65 5,300 Sumitomo Electric Industries Ltd 57,332 0.09

Automobile Manufacturers: 3.69% 30,000 Hino Motors Ltd 208,747 0.33 28,500 Honda Motor Co Ltd 649,186 1.04 5,700 Subaru Corp 93,063 0.15 4,900 Suzuki Motor Corp 185,488 0.30 18,500 Toyota Motor Corp 1,165,280 1.87

Banks: 2.14% 122,100 Mitsubishi UFJ Financial Group Inc 440,844 0.70 27,040 Mizuho Financial Group Inc 279,871 0.45 70,000 Resona Holdings Inc 199,707 0.32 13,300 Sumitomo Mitsui Financial Group Inc 335,644 0.54 3,200 Sumitomo Mitsui Trust Holdings Inc 80,478 0.13

Beverages: 1.29% 16,600 Asahi Group Holdings Ltd 557,690 0.89 12,900 Kirin Holdings Co Ltd 248,553 0.40

Building Products: 1.36% 4,300 Daikin Industries Ltd 780,175 1.25 3,400 Taiheiyo Cement Corp 69,413 0.11

Chemicals: 2.04% 25,500 Asahi Kasei Corp 212,861 0.34 5,300 Shin-Etsu Chemical Co Ltd 756,871 1.21 92,000 Sumitomo Chemical Co Ltd 302,235 0.49

Commercial Services & Supplies: 1.02% 14,000 Recruit Holdings Co Ltd 478,874 0.77 2,100 Secom Co Ltd 158,208 0.25

Computers & Peripherals: 1.21% 3,300 Fujitsu Ltd 389,364 0.62 9,000 Itochu Techno-Solutions Corp 262,536 0.42 2,400 NEC Corp 105,252 0.17

Construction & Engineering: 0.32% 8,300 Kajima Corp 90,802 0.15 15,500 Obayashi Corp 109,202 0.17

Cosmetics & Personal Care: 2.15% 10,800 Kao Corp 681,383 1.09 8,900 Shiseido Co Ltd 502,753 0.81 4,100 Unicharm Corp 158,774 0.25

ANIMA Funds Plc 552 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Asia/Pacific Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 85.92% (2019: 84.17%)

Japan (continued): 61.05%

Distributors: 2.23% 15,000 ITOCHU Corp 351,948 0.56 15,800 Marubeni Corp 85,813 0.14 29,600 Mitsubishi Corp 595,396 0.96 16,100 Mitsui & Co Ltd 240,814 0.39 10,600 Sumitomo Corp 114,580 0.18

Diversified Financial Services: 1.63% 20,000 Credit Saison Co Ltd 187,769 0.30 125,700 Nomura Holdings Inc 542,302 0.87 22,800 ORIX Corp 285,980 0.46

Electric: 0.14% 11,500 Kansai Electric Power Co Inc 88,641 0.14

Electronics: 4.16% 7,000 Hoya Corp 790,735 1.27 2,800 Kyocera Corp 140,216 0.22 6,600 Murata Manufacturing Co Ltd 486,933 0.78 6,200 Nidec Corp 637,053 1.02 4,400 TDK Corp 541,269 0.87

Entertainment: 0.26% 1,200 Oriental Land Co Ltd 161,868 0.26

Food: 0.32% 6,900 Seven & i Holdings Co Ltd 199,858 0.32

Gas: 0.19% 6,100 Tokyo Gas Co Ltd 115,119 0.19

Hand & Machine Tools: 0.50% 35,000 Amada Co Ltd 313,911 0.50

Health Care Providers & Services: 0.89% 30,900 Olympus Corp 551,954 0.89

Healthcare Products: 1.43% 3,500 Sysmex Corp 343,557 0.55 16,000 Terumo Corp 546,145 0.88

Home Builders: 0.43% 7,100 Daiwa House Industry Co Ltd 172,209 0.27 5,900 Sekisui House Ltd 98,080 0.16

Home Furnishings: 2.96% 28,300 Panasonic Corp 266,702 0.43 19,400 Sony Corp 1,579,484 2.53

Insurance: 1.71% 11,200 Dai-ichi Life Holdings Inc 137,600 0.22

ANIMA Funds Plc 553 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Asia/Pacific Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 85.92% (2019: 84.17%)

Japan (continued): 61.05%

Insurance (continued): 1.71% 6,900 MS&AD Insurance Group Holdings Inc 171,564 0.27 4,700 Sompo Holdings Inc 155,259 0.25 14,400 Tokio Marine Holdings Inc 605,066 0.97

Internet: 0.41% 2,400 M3 Inc 185,103 0.30 13,800 Z Holdings Corp 68,210 0.11

Iron & Steel: 0.80% 17,000 Hitachi Metals Ltd 210,741 0.34 27,600 Nippon Steel Corp 290,146 0.46

Leisure Time: 0.21% 700 Shimano Inc 133,461 0.21

Machinery - Diversified: 4.80% 2,100 FANUC Corp 421,578 0.67 2,400 Keyence Corp 1,101,916 1.77 18,600 Kubota Corp 331,434 0.53 11,000 Nabtesco Corp 393,587 0.63 1,500 SMC Corp 747,474 1.20

Machinery Construction & Mining: 1.66% 11,000 Hitachi Ltd 353,967 0.57 21,300 Komatsu Ltd 475,065 0.76 17,000 Mitsubishi Electric Corp 209,530 0.33

Miscellaneous Manufacturers: 0.91% 24,900 Toshiba Corp 568,662 0.91

Office/Business Equipment: 0.48% 8,900 Canon Inc 139,356 0.22 3,700 FUJIFILM Holdings Corp 159,276 0.26

Oil & Gas: 0.61% 130,600 ENEOS Holdings Inc 382,934 0.61

Pharmaceuticals: 3.39% 17,400 Astellas Pharma Inc 219,557 0.35 7,800 Chugai Pharmaceutical Co Ltd 339,784 0.55 18,100 Daiichi Sankyo Co Ltd 506,497 0.81 3,600 Eisai Co Ltd 210,086 0.34 3,700 Kyowa Kirin Co Ltd 82,420 0.13 4,100 Otsuka Holdings Co Ltd 143,390 0.23 5,500 Shionogi & Co Ltd 245,339 0.39 12,400 Takeda Pharmaceutical Co Ltd 368,588 0.59

Real Estate: 1.25% 19,500 Mitsubishi Estate Co Ltd 255,780 0.41

ANIMA Funds Plc 554 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Asia/Pacific Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 85.92% (2019: 84.17%)

Japan (continued): 61.05%

Real Estate (continued): 1.25% 22,200 Mitsui Fudosan Co Ltd 379,327 0.61 5,700 Sumitomo Realty & Development Co Ltd 143,532 0.23

Retail: 1.31% 3,600 Aeon Co Ltd 96,465 0.16 600 Fast Retailing Co Ltd 439,199 0.70 1,000 Lawson Inc 38,037 0.06 1,100 Nitori Holdings Co Ltd 188,260 0.30 3,000 Pan Pacific International Holdings Corp 56,710 0.09

Semiconductors: 2.30% 2,000 Advantest Corp 122,382 0.19 4,200 Rohm Co Ltd 332,142 0.53 26,000 SUMCO Corp 465,766 0.75 1,700 Tokyo Electron Ltd 516,761 0.83

Software: 1.98% 5,500 Capcom Co Ltd 291,707 0.47 10,000 JMDC Inc 462,298 0.74 19,000 Nexon Co Ltd 478,289 0.77

Telecommunications: 4.03% 16,000 KDDI Corp 388,330 0.62 15,200 Nippon Telegraph & Telephone Corp 318,318 0.51 17,100 Softbank Corp 175,026 0.28 25,600 SoftBank Group Corp 1,632,964 2.62

Toys, Games & Hobbies: 1.59% 1,900 Nintendo Co Ltd 990,117 1.59

Transportation: 1.07% 2,300 Central Japan Railway Co 265,639 0.43 5,990 East Japan Railway Co 326,468 0.52 1,800 West Japan Railway Co 76,930 0.12

Total Japan 38,094,527 61.05

Malta: 0.00%

Holding Companies - Diversified Operations: 0.00% 172,228 Az. Bgp Holdings -0.00

Total Malta -0.00

Singapore: 2.30%

Airlines: 0.12% 28,700 Singapore Airlines Ltd 75,960 0.12

ANIMA Funds Plc 555 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Asia/Pacific Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 85.92% (2019: 84.17%)

Singapore (continued): 2.30%

Banks: 1.57% 34,118 DBS Group Holdings Ltd 528,299 0.85 36,600 Oversea-Chinese Banking Corp Ltd 227,688 0.36 16,000 United Overseas Bank Ltd 223,511 0.36

Construction & Engineering: 0.27% 50,600 Keppel Corp Ltd 168,343 0.27

Lodging: 0.06% 7,600 City Developments Ltd 37,457 0.06

Telecommunications: 0.28% 123,000 Singapore Telecommunications Ltd 175,703 0.28

Total Singapore 1,436,961 2.30

Total Equities 53,616,233 85.92

Investment Funds: 6.52% (2019:2.01%)

Ireland: 6.52% 97,944 iShares Core MSCI Japan IMI UCITS ETF 4,068,594 6.52

Total Ireland 4,068,594 6.52

Total Investment Funds 4,068,594 6.52

Futures contracts: 0.12% (2019: (0.15%)) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 2,645,258 19 Hang Seng Index Futures January 2021 80,308 0.13

Total Fair Value Gains on Open Futures Contracts 80,308 0.13

624,075 6 SPI 200 Futures March 2021 (5,676) (0.01)

Total Fair Value Losses on Open Futures Contracts (5,676) (0.01)

Total Futures Contracts 74,632 0.12

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 52,244,706) 57,759,459 92.56

Cash and Cash Equivalents and Due From Broker 5,170,925 8.29

Other Net Liabilities (532,166) (0.85)

Net Assets Attributable to Holders of Redeemable Participating Shares 62,398,218 100.00

ANIMA Funds Plc 556 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Asia/Pacific Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 85.11 UCITS and non-UCITS Investment Funds 6.46 Financial derivative instruments dealt in on a regulated market 0.13 Other Assets 8.30

100.00

ANIMA Funds Plc 557 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 95.46% (2019: 97.34%)

Australia: 2.09%

Commercial Services & Supplies: 0.65% 30,200 Brambles Ltd 201,888 0.65

Construction & Engineering: 0.60% 22,800 Lendlease Corp Ltd 188,367 0.60

Mining: 0.84% 169,250 South32 Ltd 263,648 0.84

Total Australia 653,903 2.09

Belgium: 0.57%

Beverages: 0.31% 1,700 Anheuser-Busch InBev SA 96,917 0.31

Pharmaceuticals: 0.26% 971 UCB SA 82,030 0.26

Total Belgium 178,947 0.57

Canada: 0.67%

Oil & Gas: 0.67% 10,591 Canadian Natural Resources Ltd 208,176 0.67

Total Canada 208,176 0.67

Denmark: 1.14%

Transportation: 1.14% 195 AP Moller - Maersk A/S 356,155 1.14

Total Denmark 356,155 1.14

France: 6.38%

Advertising: 0.63% 4,800 Publicis Groupe SA 195,648 0.63

Banks: 1.30% 9,414 BNP Paribas SA 405,791 1.30

Beverages: 0.94% 1,883 Pernod Ricard SA 295,254 0.94

Commercial Services & Supplies: 0.43% 6,250 Bureau Veritas SA 136,000 0.43

ANIMA Funds Plc 558 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 95.46% (2019: 97.34%)

France (continued): 6.38%

Electric: 0.98% 24,429 Engie SA 305,851 0.98

Food: 0.67% 14,885 Carrefour SA 208,837 0.67

Oil & Gas: 0.58% 5,170 Total SA 182,501 0.58

Pharmaceuticals: 0.85% 3,382 Sanofi 266,163 0.85

Total France 1,996,045 6.38

Germany: 5.04%

Automobile Manufacturers: 1.28% 6,930 Daimler AG 400,485 1.28

Chemicals: 0.78% 9,158 Evonik Industries AG 244,335 0.78

Electric: 0.76% 26,157 E.ON SE 237,087 0.76

Household Products/Wares: 0.78% 2,638 Henkel AG & Co KGaA Pref 243,487 0.78

Machinery Construction & Mining: 0.07% 788 Siemens Energy AG 23,640 0.07

Miscellaneous Manufacturers: 0.99% 2,642 Siemens AG 310,488 0.99

Transportation: 0.38% 2,931 Deutsche Post AG 118,706 0.38

Total Germany 1,578,228 5.04

Guernsey: 0.49%

Computers & Peripherals: 0.49% 2,620 Amdocs Ltd 151,883 0.49

Total Guernsey 151,883 0.49

ANIMA Funds Plc 559 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 95.46% (2019: 97.34%)

Ireland: 1.70%

Healthcare Products: 0.72% 2,344 Medtronic Plc 224,409 0.72

Pharmaceuticals: 0.98% 2,281 Jazz Pharmaceuticals Plc 307,694 0.98

Total Ireland 532,103 1.70

Italy: 1.69%

Retail: 0.64% 12,549 Salvatore Ferragamo SpA 199,027 0.64

Telecommunications: 1.05% 461,663 Telecom Italia SpA 174,232 0.56 366,133 Telecom Italia SpA Pref 155,167 0.49

Total Italy 528,426 1.69

Japan: 16.13%

Auto Components: 1.83% 5,400 Aisin Seiki Co Ltd 132,301 0.42 6,000 Denso Corp 291,343 0.93 13,700 Sumitomo Electric Industries Ltd 148,197 0.48

Automobile Manufacturers: 1.08% 14,900 Honda Motor Co Ltd 339,399 1.08

Banks: 1.01% 12,500 Sumitomo Mitsui Financial Group Inc 315,455 1.01

Beverages: 0.86% 8,000 Asahi Group Holdings Ltd 268,766 0.86

Building Products: 0.40% 4,400 AGC Inc 125,390 0.40

Chemicals: 0.82% 78,000 Sumitomo Chemical Co Ltd 256,243 0.82

Computers & Peripherals: 0.38% 4,100 Itochu Techno-Solutions Corp 119,600 0.38

Construction & Engineering: 0.31% 3,500 Taisei Corp 98,496 0.31

Cosmetics & Personal Care: 0.75% 3,700 Kao Corp 233,437 0.75

ANIMA Funds Plc 560 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 95.46% (2019: 97.34%)

Japan (continued): 16.13%

Distributors: 1.71% 13,900 Mitsubishi Corp 279,594 0.89 17,100 Mitsui & Co Ltd 255,772 0.82

Electronics: 1.46% 3,500 Kyocera Corp 175,270 0.56 2,300 TDK Corp 282,936 0.90

Insurance: 0.94% 7,000 Tokio Marine Holdings Inc 294,129 0.94

Machinery Construction & Mining: 1.73% 11,200 Hitachi Ltd 360,403 1.15 14,700 Mitsubishi Electric Corp 181,182 0.58

Miscellaneous Manufacturers: 0.68% 9,300 Toshiba Corp 212,392 0.68

Office/Business Equipment: 0.54% 3,900 FUJIFILM Holdings Corp 167,885 0.54

Pharmaceuticals: 0.44% 4,600 Takeda Pharmaceutical Co Ltd 136,734 0.44

Retail: 0.40% 26,300 Isetan Mitsukoshi Holdings Ltd 126,997 0.40

Telecommunications: 0.79% 4,800 KDDI Corp 116,499 0.37 3,100 Nippon Telegraph & Telephone Corp 64,920 0.21 6,300 Softbank Corp 64,484 0.21

Total Japan 5,047,824 16.13

Jersey, Channel Islands: 0.94%

Advertising: 0.94% 33,000 WPP Plc 294,941 0.94

Total Jersey, Channel Islands 294,941 0.94

Netherlands: 2.77%

Beverages: 0.58% 2,000 Heineken NV 182,440 0.58

Chemicals: 0.65% 2,700 LyondellBasell Industries NV 202,265 0.65

ANIMA Funds Plc 561 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 95.46% (2019: 97.34%)

Netherlands (continued): 2.77%

Electical Components & Equipment: 0.58% 5,232 Signify NV 180,661 0.58

Semiconductors: 0.96% 2,313 NXP Semiconductors NV 300,593 0.96

Total Netherlands 865,959 2.77

Spain: 2.51%

Banks: 1.05% 129,478 Banco Santander SA 328,615 1.05

Oil & Gas: 0.89% 34,000 Repsol SA 280,500 0.89

Retail: 0.57% 6,810 Industria de Diseno Textil SA 177,333 0.57

Total Spain 786,448 2.51

Sweden: 0.64%

Automobile Manufacturers: 0.64% 10,460 Volvo AB 201,737 0.64

Total Sweden 201,737 0.64

Switzerland: 1.72%

Banks: 0.99% 29,310 Credit Suisse Group AG 308,938 0.99

Pharmaceuticals: 0.73% 730 Novartis AG 56,460 0.18 609 Roche Holding AG 173,991 0.55

Total Switzerland 539,389 1.72

United Kingdom: 9.60%

Apparel Retail: 0.70% 10,988 Burberry Group Plc 219,675 0.70

Banks: 0.65% 48,100 HSBC Holdings Plc 203,584 0.65

Chemicals: 0.47% 5,430 Johnson Matthey Plc 147,110 0.47

ANIMA Funds Plc 562 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 95.46% (2019: 97.34%)

United Kingdom (continued): 9.60%

Cosmetics & Personal Care: 0.01% 55 Unilever Plc 2,698 0.01

Electric: 1.39% 26,000 SSE Plc 435,708 1.39

Food: 1.80% 10,000 Associated British Foods Plc 252,934 0.81 120,000 Tesco Plc 310,224 0.99

Insurance: 0.04% 900 Prudential Plc 13,544 0.04

Oil & Gas: 0.95% 104,610 BP Plc 297,785 0.95

Pharmaceuticals: 1.13% 23,540 GlaxoSmithKline Plc 352,931 1.13

Telecommunications: 2.46% 261,524 BT Group Plc 386,401 1.24 282,445 Vodafone Group Plc 381,623 1.22

Total United Kingdom 3,004,217 9.60

United States: 41.38%

Agriculture: 0.81% 3,749 Philip Morris International Inc 253,671 0.81

Apparel Retail: 1.37% 1,205 PVH Corp 92,467 0.30 3,950 Ralph Lauren Corp 334,905 1.07

Banks: 5.07% 7,943 Bank of New York Mellon Corp 275,511 0.88 9,491 Citigroup Inc 478,293 1.53 5,291 Morgan Stanley 296,344 0.95 3,991 State Street Corp 237,395 0.76 7,850 US Bancorp 298,910 0.95

Beverages: 0.76% 1,960 PepsiCo Inc 237,561 0.76

Biotechnology: 1.10% 10,920 Corteva Inc 345,570 1.10

Chemicals: 0.46% 4,500 CF Industries Holdings Inc 142,369 0.46

ANIMA Funds Plc 563 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 95.46% (2019: 97.34%)

United States (continued): 41.38%

Computers & Peripherals: 1.62% 7,500 Hewlett Packard Enterprise 72,637 0.23 3,140 International Business Machines Corp 323,046 1.03 2,437 Western Digital Corp 110,323 0.36

Cosmetics & Personal Care: 0.23% 12,500 Coty Inc 71,718 0.23

Diversified Financial Services: 1.92% 2,778 Affiliated Managers Group Inc 230,904 0.74 1,830 Capital One Financial Corp 147,845 0.47 10,910 Franklin Resources Inc 222,828 0.71

Food: 1.57% 6,654 Kellogg Co 338,424 1.08 3,200 Mondelez International Inc 152,919 0.49

Health Care Providers & Services: 0.75% 3,600 Baxter International Inc 236,087 0.75

Insurance: 1.49% 10,990 Equitable Holdings Inc 229,851 0.74 4,890 Voya Financial Inc 235,038 0.75

Internet: 1.63% 6,934 eBay Inc 284,773 0.91 904 Expedia Group Inc 97,821 0.31 4,500 NortonLifeLock Inc 76,425 0.25 2,114 TripAdvisor Inc 49,725 0.16

Leisure Time: 0.48% 5,000 Harley-Davidson Inc 149,973 0.48

Machinery - Diversified: 0.64% 3,637 Otis Worldwide Corp 200,792 0.64

Media: 1.30% 6,012 Comcast Corp 257,471 0.82 4,906 ViacomCBS Inc 149,399 0.48

Miscellaneous Manufacturers: 1.60% 56,700 General Electric Co 500,478 1.60

Paper & Forest Products: 0.51% 3,920 International Paper Co 159,293 0.51

Pharmaceuticals: 8.91% 5,183 AbbVie Inc 453,891 1.45 1,883 Alexion Pharmaceuticals Inc 240,448 0.77 1,078 Biogen Inc 215,732 0.69 9,514 Bristol-Myers Squibb Co 482,329 1.54

ANIMA Funds Plc 564 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 95.46% (2019: 97.34%)

United States (continued): 41.38%

Pharmaceuticals (continued): 8.91% 780 Cigna Corp 132,713 0.42 3,137 CVS Health Corp 175,111 0.56 5,593 Elanco Animal Health Inc 140,196 0.45 6,938 Gilead Sciences Inc 330,357 1.06 1,869 Johnson & Johnson 240,401 0.77 11,746 Pfizer Inc 353,374 1.13 1,461 Viatris Inc 22,377 0.07

Pipelines: 2.31% 16,903 Enterprise Products Partners LP 270,630 0.86 7,841 Magellan Midstream Partners LP 271,973 0.87 10,988 Williams Cos Inc 180,058 0.58

Retail: 2.26% 9,000 Kohl’s Corp 299,301 0.96 2,832 Target Corp 408,592 1.30

Semiconductors: 1.76% 10,463 Intel Corp 426,028 1.36 1,000 QUALCOMM Inc 124,507 0.40

Software: 0.80% 260 Akamai Technologies Inc 22,310 0.07 2,000 VMware Inc 229,267 0.73

Telecommunications: 1.54% 31,860 CenturyLink Inc 253,880 0.81 7,747 Corning Inc 227,937 0.73

Transportation: 0.49% 1,120 United Parcel Service Inc 154,148 0.49

Total United States 12,946,326 41.38

Total Equities 29,870,707 95.46

Rights: 0.03%

Spain: 0.03% (2019:0.03%) 34,000 Repsol SA 9,544 0.03

Total Spain 9,544 0.03

Total Rights 9,544 0.03

ANIMA Funds Plc 565 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts: (0.36%) (2019: (0.04%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Goldman EUR 389,374 CHF 420,000 22/01/2021 997 0.00 Sachs Goldman EUR 224,083 GBP 200,000 22/01/2021 706 0.00 Sachs Goldman EUR 452,980 JPY 56,500,000 22/01/2021 5,815 0.03 Sachs Goldman EUR 5,789,449 USD 6,900,000 22/01/2021 152,505 0.48 Sachs Goldman GBP 140,000 EUR 152,646 22/01/2021 3,718 0.01 Sachs J.P. Morgan AUD 1,086,000 EUR 668,752 22/01/2021 15,993 0.05 J.P. Morgan CAD 1,445,000 EUR 922,038 22/01/2021 4,634 0.02 J.P. Morgan EUR 644,967 DKK 4,800,000 22/01/2021 132 0.00 J.P. Morgan EUR 112,519 GBP 100,000 22/01/2021 831 0.00 J.P. Morgan EUR 2,938,976 JPY 366,750,000 22/01/2021 36,369 0.12 J.P. Morgan EUR 4,032,264 USD 4,760,000 22/01/2021 143,588 0.47 J.P. Morgan GBP 1,385,000 EUR 1,537,396 22/01/2021 9,491 0.03 J.P. Morgan NOK 1,750,000 EUR 163,700 22/01/2021 3,277 0.01 J.P. Morgan SEK 2,450,000 EUR 235,689 22/01/2021 8,085 0.03 Morgan EUR 340,209 CHF 365,000 22/01/2021 2,692 0.01 Stanley Morgan EUR 1,255,613 JPY 156,550,000 22/01/2021 16,615 0.06 Stanley Morgan EUR 2,243,814 USD 2,675,000 22/01/2021 58,477 0.17 Stanley Morgan GBP 125,000 EUR 137,635 22/01/2021 1,976 0.00 Stanley Morgan SEK 50,000 EUR 4,907 22/01/2021 68 0.00 Stanley

Total Fair Value Gains on Forward Currency Contracts 465,969 1.49

Goldman EUR 434,038 GBP 400,000 22/01/2021 (12,716) (0.04) Sachs J.P. Morgan CHF 795,000 EUR 739,190 22/01/2021 (4,050) (0.01) J.P. Morgan DKK 2,200,000 EUR 295,673 22/01/2021 (124) (0.00) J.P. Morgan EUR 480,592 AUD 786,000 22/01/2021 (14,997) (0.05) J.P. Morgan EUR 128,243 CAD 200,000 22/01/2021 (16) (0.00) J.P. Morgan EUR 1,999,845 GBP 1,830,000 22/01/2021 (44,059) (0.15) J.P. Morgan EUR 248,045 JPY 31,400,000 22/01/2021 (467) (0.00) J.P. Morgan EUR 134,311 SEK 1,400,000 22/01/2021 (4,988) (0.02) J.P. Morgan HKD 2,810,000 EUR 304,080 22/01/2021 (7,998) (0.03) J.P. Morgan JPY 104,000,000 EUR 837,743 22/01/2021 (14,645) (0.05) J.P. Morgan USD 10,015,000 EUR 8,443,177 22/01/2021 (261,441) (0.83) Morgan CHF 295,000 EUR 274,682 22/01/2021 (1,893) (0.00) Stanley Morgan DKK 1,400,000 EUR 188,142 22/01/2021 (65) (0.00) Stanley Morgan EUR 463,011 AUD 750,000 22/01/2021 (9,879) (0.03) Stanley Morgan EUR 373,287 CHF 405,000 22/01/2021 (1,219) (0.00) Stanley

ANIMA Funds Plc 566 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Equity Value (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts (continued): (0.36%) (2019: (0.04%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Morgan EUR 437,747 GBP 400,000 22/01/2021 (9,007) (0.03) Stanley Morgan GBP 130,000 EUR 145,568 22/01/2021 (372) (0.00) Stanley Morgan JPY 396,100,000 EUR 3,177,610 22/01/2021 (42,715) (0.13) Stanley Morgan USD 5,870,000 EUR 4,942,040 22/01/2021 (146,552) (0.48) Stanley Morgan USD 200,000 EUR 164,660 29/01/2021 (1,297) (0.00) Stanley

Total Fair Value Losses on Forward Currency Contracts (578,500) (1.85)

Total Forward Currency Contracts (112,531) (0.36)

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 28,958,633) 29,767,720 95.13

Cash and Cash Equivalents and Due From Broker 1,218,846 3.90

Other Net Assets 303,309 0.97

Net Assets Attributable to Holders of Redeemable Participating Shares 31,289,875 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 93.09 Over the counter financial derivative instruments 1.45 Other Assets 5.46

100.00

ANIMA Funds Plc 567 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 79.37% (2019: 77.27%)

Bermuda: 0.76%

Gas: 0.04% 5,477 China Gas Holdings Ltd 17,781 0.04

Oil & Gas: 0.42% 277,588 Kunlun Energy Co Ltd 196,036 0.42

Retail: 0.25% 50,000 Alibaba Health Information Technology Ltd 120,689 0.25

Water: 0.05% 68,686 Beijing Enterprises Water Group Ltd 22,588 0.05

Total Bermuda 357,094 0.76

Brazil: 6.18%

Banks: 1.11% 36,399 Banco Bradesco SA ADR 156,478 0.33 33,800 Banco do Brasil SA 206,352 0.44 32,366 Itau Unibanco Holding SA Pref 161,082 0.34

Beverages: 0.17% 32,607 Ambev SA ADR 81,547 0.17

Chemicals: 0.21% 26,851 Braskem SA 99,582 0.21

Diversified Financial Services: 0.75% 36,118 B3 SA - Brasil Bolsa Balcao 352,237 0.75

Food: 0.21% 8,121 Cia Brasileira de Distribuicao 95,900 0.21

Iron & Steel: 1.25% 42,893 Vale SA ADR 587,542 1.25

Machinery - Diversified: 0.61% 24,124 WEG SA 287,498 0.61

Oil & Gas: 0.98% 50,382 Petroleo Brasileiro SA ADR 462,417 0.98

Retail: 0.69% 46,891 Atacadao SA 143,063 0.30 25,000 Lojas Americanas SA 103,417 0.22 20,000 Magazine Luiza SA 78,516 0.17

ANIMA Funds Plc 568 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 79.37% (2019: 77.27%)

Brazil (continued): 6.18%

Transportation: 0.20% 31,000 Rumo SA 93,848 0.20

Total Brazil 2,909,479 6.18

Cayman Islands: 18.56%

Apparel Retail: 0.50% 14,736 Shenzhou International Group Holdings Ltd 236,093 0.50

Automobile Manufacturers: 1.48% 137,042 Geely Automobile Holdings Ltd 382,790 0.81 5,492 Li Auto Inc 129,406 0.28 5,305 XPeng Inc 185,700 0.39

Environmental Control: 0.18% 21,500 China Conch Venture Holdings Ltd 85,436 0.18

Food: 1.27% 55,883 China Mengniu Dairy Co Ltd 275,668 0.59 46,700 Tingyi Cayman Islands Holding Corp 65,173 0.14 434,292 Want Want China Holdings Ltd 256,806 0.54

Healthcare Products: 0.47% 38,295 Hengan International Group Co Ltd 221,603 0.47

Internet: 12.35% 13,825 Alibaba Group Holding Ltd ADR 2,629,637 5.59 1,641 Baidu Inc ADR 290,017 0.62 6,691 Lufax Holding Ltd 77,653 0.16 2,816 Pinduoduo Inc ADR 408,907 0.87 40,451 Tencent Holdings Ltd 2,404,746 5.11

Miscellaneous Manufacturers: 0.39% 10,300 Sunny Optical Technology Group Co Ltd 184,238 0.39

Pharmaceuticals: 1.24% 61,437 Innovent Biologics Inc 531,336 1.13 64,000 Sino Biopharmaceutical Ltd 50,595 0.11

Retail: 0.22% 8,000 ANTA Sports Products Ltd 103,634 0.22

Software: 0.46% 6,040 Kingsoft Cloud Holdings Ltd ADR 214,983 0.46

Total Cayman Islands 8,734,421 18.56

ANIMA Funds Plc 569 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 79.37% (2019: 77.27%)

Chile: 0.19%

Beverages: 0.19% 41,974 Embotelladora Andina SA Pref 88,310 0.19

Total Chile 88,310 0.19

China: 13.31%

Airlines: 0.37% 268,000 Air China Ltd 172,316 0.37

Automobile Manufacturers: 1.46% 32,000 BYD Co Ltd 685,385 1.46

Banks: 1.97% 593,000 Bank of China Ltd 165,639 0.35 696,930 China Construction Bank Corp 432,678 0.92 19,367 China Merchants Bank Co Ltd 100,027 0.21 428,669 Industrial & Commercial Bank of China Ltd 227,275 0.49

Building Products: 0.72% 53,000 Anhui Conch Cement Co Ltd 271,223 0.58 67,000 China National Building Material Co Ltd 65,819 0.14

Commercial Services & Supplies: 0.97% 1,871 New Oriental Education & Technology Group Inc ADR 284,133 0.60 2,930 TAL Education Group ADR 171,243 0.37

Construction & Engineering: 0.17% 223,000 China Railway Group Ltd 80,388 0.17

Diversified Financial Services: 0.60% 153,961 CITIC Securities Co Ltd 283,670 0.60

Health Care Providers & Services: 0.34% 10,100 WuXi AppTec Co Ltd 161,605 0.34

Insurance: 1.83% 38,672 China Life Insurance Co Ltd 69,704 0.15 79,100 Ping An Insurance Group Co of China Ltd 792,065 1.68

Internet: 1.36% 20,700 Meituan Dianping 642,782 1.36

Mining: 0.22% 114,000 Zijin Mining Group Co Ltd 105,502 0.22

Miscellaneous Manufacturers: 0.64% 11,500 Airtac International Group 301,053 0.64

ANIMA Funds Plc 570 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 79.37% (2019: 77.27%)

China (continued): 13.31%

Oil & Gas: 0.07% 128,617 PetroChina Co Ltd 32,536 0.07

Real Estate: 0.40% 66,847 China Vanke Co Ltd 188,481 0.40

Software: 0.75% 4,528 NetEase Inc ADR 354,417 0.75

Telecommunications: 0.79% 1,930 GDS Holdings Ltd ADR 147,706 0.31 63,816 Xiaomi Corp 223,320 0.48

Transportation: 0.65% 310,500 COSCO SHIPPING Holdings Co Ltd 304,372 0.65

Total China 6,263,339 13.31

Hong Kong: 2.23%

Beverages: 0.46% 29,000 China Resources Beer Holdings Co Ltd 218,251 0.46

Diversified Financial Services: 0.39% 4,100 Hong Kong Exchanges & Clearing Ltd 183,668 0.39

Hand & Machine Tools: 0.50% 20,000 Techtronic Industries Co Ltd 233,156 0.50

Oil & Gas: 0.20% 125,750 CNOOC Ltd 95,169 0.20

Real Estate: 0.29% 78,000 China Overseas Land & Investment Ltd 138,616 0.29

Telecommunications: 0.39% 39,231 China Mobile Ltd 182,773 0.39

Total Hong Kong 1,051,633 2.23

India: 5.72%

Agriculture: 0.39% 78,056 ITC Ltd 182,564 0.39

Auto Components: 0.27% 70,000 Motherson Sumi Systems Ltd 129,192 0.27

Automobile Manufacturers: 0.22% 97,514 Ashok Leyland Ltd 104,438 0.22

ANIMA Funds Plc 571 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 79.37% (2019: 77.27%)

India (continued): 5.72%

Banks: 1.63% 33,941 Bandhan Bank Ltd 152,599 0.32 18,528 ICICI Bank Ltd 225,022 0.48 126,881 State Bank of India 389,435 0.83

Computers & Peripherals: 0.88% 29,540 Infosys Ltd 414,180 0.88

Construction & Engineering: 0.41% 13,236 Larsen & Toubro Ltd 190,712 0.41

Diversified Financial Services: 0.60% 9,919 Housing Development Finance Corp Ltd 282,913 0.60

Insurance: 0.33% 9,051 ICICI Lombard General Insurance 154,249 0.33

Oil & Gas: 0.99% 21,007 Reliance Industries Ltd 465,669 0.99

Total India 2,690,973 5.72

Indonesia: 0.52%

Banks: 0.52% 49,700 Bank Central Asia Tbk PT 97,863 0.21 601,310 Bank Rakyat Indonesia Persero Tbk PT 145,860 0.31

Total Indonesia 243,723 0.52

Korea: 14.35%

Auto Components: 0.31% 759 Hyundai Mobis Co Ltd 145,902 0.31

Automobile Manufacturers: 0.48% 1,560 Hyundai Motor Co 225,348 0.48

Banks: 0.17% 3,419 Shinhan Financial Group Co Ltd 82,443 0.17

Chemicals: 1.44% 1,090 LG Chem Ltd 675,744 1.44

Construction & Engineering: 0.45% 2,035 Samsung C&T Corp 211,287 0.45

Cosmetics & Personal Care: 1.39% 2,313 Amorepacific Corp 358,485 0.76 242 LG Household & Health Care Ltd 294,957 0.63

ANIMA Funds Plc 572 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 79.37% (2019: 77.27%)

Korea (continued): 14.35%

Diversified Financial Services: 0.43% 3,834 Hana Financial Group Inc 99,518 0.21 3,108 KB Financial Group Inc 101,484 0.22

Electical Components & Equipment: 0.69% 2,380 LG Innotek Co Ltd 326,790 0.69

Electric: 0.28% 6,400 Korea Electric Power Corp 131,935 0.28

Internet: 0.79% 1,692 NAVER Corp 372,353 0.79

Semiconductors: 6.53% 38,320 Samsung Electronics Co Ltd 2,335,280 4.96 8,269 SK Hynix Inc 737,225 1.57

Telecommunications: 1.39% 1,387 Samsung SDI Co Ltd 655,337 1.39

Total Korea 6,754,088 14.35

Luxembourg: 0.23%

Internet: 0.23% 5,856 Allegro.eu SA 108,798 0.23

Total Luxembourg 108,798 0.23

Malaysia: 0.18%

Banks: 0.11% 30,500 Malayan Banking Bhd 52,427 0.11

Electric: 0.07% 16,400 Tenaga Nasional Bhd 34,721 0.07

Total Malaysia 87,148 0.18

Mexico: 1.84%

Banks: 0.26% 26,800 Grupo Financiero Banorte SAB de CV 120,535 0.26

Beverages: 0.39% 2,952 Fomento Economico Mexicano SAB de CV ADR 182,806 0.39

Building Products: 0.23% 25,882 Cemex SAB de CV ADR 109,362 0.23

ANIMA Funds Plc 573 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 79.37% (2019: 77.27%)

Mexico (continued): 1.84%

Retail: 0.39% 79,660 Walmart De Mexico SAB De CV 182,651 0.39

Telecommunications: 0.57% 22,614 America Movil SAB de CV ADR 268,732 0.57

Total Mexico 864,086 1.84

Poland: 0.17%

Oil & Gas: 0.17% 6,224 Polski Koncern Naftowy ORLEN SA 78,801 0.17

Pharmaceuticals: 0.00% 1 Bioton SA 10.00

Real Estate: 0.00% 1 Echo Investment SA 1 0.00

Total Poland 78,803 0.17

Russia: 2.80%

Banks: 0.52% 20,691 Sberbank of Russia PJSC ADR 245,542 0.52

Mining: 0.71% 628 MMC Norilsk Nickel PJSC ADR 16,158 0.03 12,475 MMC Norilsk Nickel PJSC ADR 318,107 0.68

Oil & Gas: 1.57% 6,051 Gazprom PJSC ADR 27,694 0.06 54,762 Gazprom PJSC ADR 250,369 0.53 1,611 LUKOIL PJSC ADR 90,007 0.19 2,307 LUKOIL PJSC ADR 128,591 0.28 52,000 Rosneft Oil Co PJSC (US listed) 239,696 0.51

Total Russia 1,316,164 2.80

Singapore: 0.00%

Environmental Control: 0.00% 66,000 Sound Global Ltd 1,979 0.00

Total Singapore 1,979 0.00

ANIMA Funds Plc 574 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 79.37% (2019: 77.27%)

South Africa: 3.17%

Banks: 0.87% 74,261 FirstRand Ltd 210,895 0.45 28,152 Standard Bank Group Ltd 199,058 0.42

Internet: 1.47% 4,110 Naspers Ltd 690,476 1.47

Mining: 0.83% 34,822 Impala Platinum Holdings Ltd 391,186 0.83

Total South Africa 1,491,615 3.17

Taiwan: 8.28%

Chemicals: 0.45% 40,095 Formosa Plastics Corp 112,427 0.24 47,000 Nan Ya Plastics Corp 98,295 0.21

Electronics: 0.78% 137,381 Hon Hai Precision Industry Co Ltd 367,635 0.78

Insurance: 0.46% 173,991 Cathay Financial Holding Co Ltd 213,824 0.46

Miscellaneous Manufacturers: 0.21% 1,077 Largan Precision Co Ltd 100,090 0.21

Semiconductors: 5.39% 22,575 MediaTek Inc 490,514 1.04 132,676 Taiwan Semiconductor Manufacturing Co Ltd 2,045,366 4.35

Telecommunications: 0.25% 65,648 Far EasTone Telecommunications Co Ltd 116,863 0.25

Transportation: 0.74% 295,276 Evergreen Marine Corp Taiwan Ltd 349,563 0.74

Total Taiwan 3,894,577 8.28

Thailand: 0.45%

Banks: 0.16% 9,700 Kasikornbank PCL 29,901 0.06 18,500 Siam Commercial Bank PCL 44,159 0.10

Holding Companies - Diversified Operations: 0.29% 13,300 Siam Cement PCL NVDR 137,145 0.29

Total Thailand 211,205 0.45

ANIMA Funds Plc 575 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 79.37% (2019: 77.27%)

Turkey: 0.00%

Banks: 0.00% 1 Turkiye Is Bankasi AS 1 0.00

Construction & Engineering: 0.00% 1 Enka Insaat ve Sanayi AS - 0.00

Total Turkey 10.00

United States: 0.43%

Internet: 0.22% 78 MercadoLibre Inc 106,793 0.22

Retail: 0.21% 2,100 Yum China Holdings Inc 97,985 0.21

Total United States 204,778 0.43

Total Equities 37,352,214 79.37

Bonds: 2.35% (2019: 4.26%)

United States: 2.35%

Government Bonds: 2.35% 1,350,000 United States Treasury Note/Bond 1.25% 31/03/2021 1,106,265 2.35

Total United States 1,106,265 2.35

Total Bonds 1,106,265 2.35

Investment Funds: 3.39% (2019:7.63%)

France: 2.81% 74,325 Lyxor MSCI India UCITS ETF 1,325,066 2.81

Total France 1,325,066 2.81

Luxembourg: 0.58% 16,580 Lyxor MSCI Brazil UCITS ETF 270,901 0.58

Total Luxembourg 270,901 0.58

Total Investment Funds 1,595,967 3.39

ANIMA Funds Plc 576 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Emerging Markets Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Futures contracts: 0.79% (2019: 0.21%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 945,725 22 MSCI China Free Index Futures March 2021 115,033 0.24 2,745,348 54 MSCI Emerging Market Index Futures March 2021 97,315 0.21 782,013 19 MSCI Emerging Market Index Futures March 2021 126,806 0.27 2,169,262 46 MSCI Taiwan Index Futures January 2021 32,332 0.07

Total Fair Value Gains on Open Futures Contracts 371,486 0.79

Total Futures Contracts 371,486 0.79

Forward Currency Contracts: 0.07% (2019: (0.00%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Morgan EUR 1,760,566 USD 2,100,000 22/01/2021 44,974 0.09 Stanley

Total Fair Value Gains on Forward Currency Contracts 44,974 0.09

Morgan TWD 43,590,000 EUR 1,278,112 15/01/2021 (10,472) (0.02) Stanley

Total Fair Value Losses on Forward Currency Contracts (10,472) (0.02)

Total Forward Currency Contracts 34,502 0.07

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 30,788,594) 40,460,434 85.97

Cash and Cash Equivalents and Due From Broker 6,644,412 14.12

Other Net Liabilities (42,192) (0.09)

Net Assets Attributable to Holders of Redeemable Participating Shares 47,062,654 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 81.33 UCITS and non-UCITS Investment Funds 3.37 Financial derivative instruments dealt in on a regulated market 0.79 Over the counter financial derivative instruments 0.09 Other Assets 14.42

100.00

ANIMA Funds Plc 577 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 98.73% (2019: 0.00%)

Canada: 0.92%

Banks: 0.46% 700 Royal Bank of Canada 46,967 0.46

Chemicals: 0.46% 1,200 Nutrien Ltd 47,144 0.46

Total Canada 94,111 0.92

Denmark: 0.28%

Energy Sources: 0.28% 150 Vestas Wind Systems A/S 29,009 0.28

Total Denmark 29,009 0.28

France: 4.34%

Apparel Retail: 0.68% 135 LVMH Moet Hennessy Louis Vuitton SE 68,972 0.68

Banks: 0.51% 1,200 BNP Paribas SA 51,726 0.51

Beverages: 0.41% 270 Pernod Ricard SA 42,336 0.41

Building Products: 0.29% 800 Cie de Saint-Gobain 30,000 0.29

Commercial Services & Supplies: 0.47% 600 Worldline SA 47,460 0.47

Electical Components & Equipment: 0.70% 600 Schneider Electric SE 70,980 0.70

Healthcare Products: 0.32% 260 EssilorLuxottica SA 33,163 0.32

Oil & Gas: 0.62% 1,800 Total SA 63,540 0.62

Telecommunications: 0.34% 3,600 Orange SA 35,042 0.34

Total France 443,219 4.34

ANIMA Funds Plc 578 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

Germany: 3.57%

Automobile Manufacturers: 0.45% 300 Volkswagen AG Pref 45,726 0.45

Electric: 0.51% 1,500 RWE AG 51,855 0.51

Insurance: 0.45% 230 Allianz SE 46,161 0.45

Machinery Construction & Mining: 0.50% 1,700 Siemens Energy AG 51,000 0.50

Miscellaneous Manufacturers: 0.46% 400 Siemens AG 47,008 0.46

Pharmaceuticals: 0.41% 300 Merck KGaA 42,105 0.41

Software: 0.31% 300 SAP SE 32,166 0.31

Transportation: 0.48% 1,200 Deutsche Post AG 48,600 0.48

Total Germany 364,621 3.57

Ireland: 3.69%

Auto Components: 0.42% 400 Aptiv Plc 42,594 0.42

Chemicals: 0.84% 400 Linde Plc 85,200 0.84

Electical Components & Equipment: 0.45% 1,200 Johnson Controls International Plc 45,693 0.45

Healthcare Products: 0.56% 600 Medtronic Plc 57,443 0.56

Miscellaneous Manufacturers: 0.44% 380 Trane Technologies Plc 45,083 0.44

Pharmaceuticals: 0.98% 1,000 Horizon Therapeutics Plc 59,785 0.58 300 Jazz Pharmaceuticals Plc 40,468 0.40

Total Ireland 376,266 3.69

ANIMA Funds Plc 579 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

Italy: 0.73%

Electric: 0.73% 9,000 Enel SpA 74,484 0.73

Total Italy 74,484 0.73

Japan: 8.37%

Aerospace & Defense: 0.31% 1,700 Kawasaki Heavy Industries Ltd 31,275 0.31

Auto Components: 0.57% 1,200 Denso Corp 58,268 0.57

Automobile Manufacturers: 0.20% 900 Honda Motor Co Ltd 20,501 0.20

Beverages: 0.29% 900 Asahi Group Holdings Ltd 30,236 0.29

Building Products: 0.71% 400 Daikin Industries Ltd 72,574 0.71

Commercial Services & Supplies: 0.23% 700 Recruit Holdings Co Ltd 23,944 0.23

Computers & Peripherals: 0.17% 400 NEC Corp 17,542 0.17

Cosmetics & Personal Care: 0.39% 700 Shiseido Co Ltd 39,542 0.39

Diversified Financial Services: 0.37% 8,700 Nomura Holdings Inc 37,534 0.37

Electronics: 0.28% 900 Shimadzu Corp 28,569 0.28

Health Care Providers & Services: 0.65% 3,700 Olympus Corp 66,092 0.65

Home Furnishings: 0.64% 800 Sony Corp 65,133 0.64

Insurance: 0.37% 900 Tokio Marine Holdings Inc 37,817 0.37

Machinery - Diversified: 0.49% 100 SMC Corp 49,832 0.49

ANIMA Funds Plc 580 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

Japan (continued): 8.37%

Machinery Construction & Mining: 0.60% 700 Hitachi Construction Machinery Co Ltd 16,236 0.16 1,400 Hitachi Ltd 45,050 0.44

Pharmaceuticals: 0.30% 1,100 Daiichi Sankyo Co Ltd 30,782 0.30

Real Estate: 0.27% 1,600 Mitsui Fudosan Co Ltd 27,339 0.27

Semiconductors: 0.65% 3,700 SUMCO Corp 66,282 0.65

Toys, Games & Hobbies: 0.51% 100 Nintendo Co Ltd 52,111 0.51

Transportation: 0.37% 700 East Japan Railway Co 38,151 0.37

Total Japan 854,810 8.37

Liberia: 0.36%

Leisure Time: 0.36% 600 Royal Caribbean Cruises Ltd 36,626 0.36

Total Liberia 36,626 0.36

Netherlands: 2.55%

Beverages: 0.36% 400 Heineken NV 36,488 0.36

Commercial Services & Supplies: 0.38% 20 Adyen NV 38,100 0.38

Food: 0.27% 300 Just Eat Takeaway.com NV 27,720 0.27

Semiconductors: 1.54% 200 ASML Holding NV 79,510 0.78 400 NXP Semiconductors NV 51,983 0.51 850 STMicroelectronics NV 25,968 0.25

Total Netherlands 259,769 2.55

ANIMA Funds Plc 581 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

Portugal: 0.40%

Electric: 0.40% 7,900 EDP - Energias de Portugal SA 40,732 0.40

Total Portugal 40,732 0.40

Spain: 0.70%

Banks: 0.39% 15,700 Banco Santander SA 39,847 0.39

Retail: 0.31% 1,200 Industria de Diseno Textil SA 31,248 0.31

Total Spain 71,095 0.70

Sweden: 0.41%

Telecommunications: 0.41% 4,300 Telefonaktiebolaget LM Ericsson 41,783 0.41

Total Sweden 41,783 0.41

Switzerland: 4.46%

Banks: 0.53% 4,700 UBS Group AG 54,189 0.53

Building Products: 0.81% 1,200 LafargeHolcim Ltd 53,944 0.53 130 Sika AG 29,064 0.28

Electronics: 0.85% 2,100 ABB Ltd 47,978 0.47 400 Garmin Ltd 39,119 0.38

Food: 0.85% 900 Nestle SA 86,758 0.85

Healthcare Services: 0.31% 60 Lonza Group AG 31,555 0.31

Insurance: 0.46% 135 Zurich Insurance Group AG 46,620 0.46

Pharmaceuticals: 0.65% 230 Roche Holding AG 65,711 0.65

Total Switzerland 454,938 4.46

ANIMA Funds Plc 582 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

United Kingdom: 4.01%

Banks: 0.46% 29,100 Barclays Plc 47,686 0.46

Cosmetics & Personal Care: 0.39% 800 Unilever Plc 39,652 0.39

Healthcare Products: 0.30% 1,800 Smith & Nephew Plc 30,366 0.30

Home Builders: 0.30% 1,000 Persimmon Plc 30,913 0.30

Insurance: 0.32% 11,000 Legal & General Group Plc 32,714 0.32

Lodging: 0.34% 1,000 Whitbread PLC 34,633 0.34

Mining: 0.72% 1,200 Rio Tinto Plc 73,333 0.72

Pharmaceuticals: 0.64% 800 AstraZeneca Plc 65,459 0.64

Telecommunications: 0.54% 40,700 Vodafone Group Plc 54,991 0.54

Total United Kingdom 409,747 4.01

United States: 63.94%

Airlines: 0.26% 800 Delta Air Lines Inc 26,291 0.26

Apparel Retail: 1.01% 600 NIKE Inc 69,374 0.68 400 Ralph Lauren Corp 33,914 0.33

Automobile Manufacturers: 0.60% 1,800 General Motors Co 61,258 0.60

Banks: 4.00% 4,300 Bank of America Corp 106,520 1.04 1,400 JPMorgan Chase & Co 145,395 1.43 1,700 Morgan Stanley 95,216 0.93 500 PNC Financial Services Group Inc 60,888 0.60

Beverages: 1.93% 1,600 Coca-Cola Co 71,713 0.70

ANIMA Funds Plc 583 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

United States (continued): 63.94%

Beverages (continued): 1.93% 700 Monster Beverage Corp 52,908 0.52 600 PepsiCo Inc 72,723 0.71

Biotechnology: 1.29% 300 BioMarin Pharmaceutical Inc 21,500 0.21 600 Global Blood Therapeutics Inc 21,238 0.21 900 Halozyme Therapeutics Inc 31,416 0.31 300 Vertex Pharmaceuticals Inc 57,948 0.56

Building Products: 0.36% 300 Vulcan Materials Co 36,364 0.36

Chemicals: 0.30% 250 Albemarle Corp 30,142 0.30

Commercial Services & Supplies: 0.94% 500 PayPal Holdings Inc 95,705 0.94

Computers & Peripherals: 5.35% 4,700 Apple Inc 509,700 4.99 800 Western Digital Corp 36,216 0.36

Cosmetics & Personal Care: 0.94% 600 Procter & Gamble Co 68,231 0.67 120 Ulta Beauty Inc 28,163 0.27

Diversified Financial Services: 3.52% 1,600 Charles Schwab Corp/The 69,359 0.68 500 Fidelity National Information Services Inc 57,807 0.57 800 Intercontinental Exchange Inc 75,381 0.74 150 S&P Global Inc 40,300 0.39 650 Visa Inc 116,198 1.14

Electric: 1.32% 700 Duke Energy Corp 52,382 0.52 1,300 NextEra Energy Inc 81,971 0.80

Electronics: 0.70% 700 Trimble Inc 38,200 0.38 1,200 Vontier Corp 32,757 0.32

Energy Sources: 0.32% 575 Sunrun Inc 32,605 0.32

Environmental Control: 0.47% 500 Waste Management Inc 48,192 0.47

Food: 0.77% 600 Kellogg Co 30,516 0.30 1,000 Mondelez International Inc 47,787 0.47

ANIMA Funds Plc 584 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

United States (continued): 63.94%

Health Care Providers & Services: 0.48% 300 Teladoc Health Inc 49,028 0.48

Healthcare Products: 1.58% 2,000 Avantor Inc 46,013 0.45 300 Danaher Corp 54,466 0.53 160 Thermo Fisher Scientific Inc 60,909 0.60

Healthcare Services: 2.26% 700 Centene Corp 34,344 0.34 300 IQVIA Holdings Inc 43,930 0.43 400 UnitedHealth Group Inc 114,643 1.12 300 Zimmer Biomet Holdings Inc 37,781 0.37

Insurance: 0.60% 1,600 MetLife Inc 61,395 0.60

Internet: 7.52% 150 Alphabet Inc 214,863 2.10 120 Amazon.com Inc 319,424 3.13 30 Booking Holdings Inc 54,610 0.54 800 Facebook Inc 178,602 1.75

Lodging: 1.05% 1,100 Las Vegas Sands Corp 53,582 0.52 500 Marriott International Inc 53,909 0.53

Machinery - Diversified: 1.80% 300 Deere & Co 65,968 0.64 140 Rockwell Automation Inc 28,698 0.28 800 Westinghouse Air Brake Technologies Corp 47,861 0.47 500 Xylem Inc 41,596 0.41

Machinery Construction & Mining: 0.73% 500 Caterpillar Inc 74,382 0.73

Media: 2.22% 2,400 Comcast Corp 102,783 1.01 835 Walt Disney Co 123,644 1.21

Mining: 0.29% 1,400 Freeport-McMoRan Inc 29,772 0.29

Miscellaneous Manufacturers: 0.44% 200 Parker-Hannifin Corp 44,528 0.44

Oil & Gas: 1.26% 800 Chevron Corp 55,217 0.54 700 Concho Resources Inc 33,382 0.33 700 Phillips 66 40,013 0.39

ANIMA Funds Plc 585 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

United States (continued): 63.94%

Oil & Gas Services: 0.43% 2,600 Baker Hughes Co 44,306 0.43

Pharmaceuticals: 3.13% 800 AbbVie Inc 70,058 0.69 1,300 Bristol-Myers Squibb Co 65,782 0.64 540 Eli Lilly and Co 74,515 0.73 700 Iovance Biotherapeutics Inc 26,546 0.26 200 McKesson Corp 28,429 0.28 400 Zoetis Inc 54,105 0.53

Real Estate Investment Trust: 1.46% 100 Equinix Inc 58,369 0.57 600 Prologis Inc 48,871 0.48 180 SBA Communications Corp 41,505 0.41

Retail: 2.01% 400 McDonald’s Corp 70,150 0.68 60 O’Reilly Automotive Inc 22,193 0.22 360 Target Corp 51,939 0.51 520 Walmart Inc 61,263 0.60

Semiconductors: 3.35% 700 Advanced Micro Devices Inc 52,468 0.52 900 Applied Materials Inc 63,479 0.62 1,400 Micron Technology Inc 86,022 0.84 190 NVIDIA Corp 81,090 0.80 470 QUALCOMM Inc 58,518 0.57

Software: 5.90% 500 Activision Blizzard Inc 37,943 0.37 150 Autodesk Inc 37,433 0.37 170 DocuSign Inc 30,886 0.30 1,200 Medallia Inc 32,581 0.32 2,070 Microsoft Corp 376,290 3.68 300 Splunk Inc 41,655 0.41 400 VMware Inc 45,853 0.45

Specialty Retail: 0.64% 500 Lowe’s Cos Inc 65,592 0.64

Telecommunications: 0.52% 1,100 Verizon Communications Inc 52,818 0.52

Toys, Games & Hobbies: 0.30% 400 Hasbro Inc 30,580 0.30

Transportation: 1.89% 300 Expeditors International of Washington Inc 23,320 0.23 470 Union Pacific Corp 79,983 0.78 370 United Parcel Service Inc 50,924 0.50

ANIMA Funds Plc 586 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.73% (2019: 0.00%)

United States (continued): 63.94%

Transportation (continued): 1.89% 400 XPO Logistics Inc 38,969 0.38

Total United States 6,526,056 63.94

Total Equities 10,077,266 98.73

Forward Currency Contracts: 0.06% (2019: 0.00%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Goldman AUD 300,000 EUR 185,269 22/01/2021 3,887 0.04 Sachs Goldman CAD 300,000 EUR 190,307 22/01/2021 2,082 0.02 Sachs Goldman EUR 572,691 USD 700,000 22/01/2021 827 0.01 Sachs

Total Fair Value Gains on Forward Currency Contracts 6,796 0.07

Goldman EUR 138,504 CHF 150,000 22/01/2021 (202) (0.01) Sachs Goldman EUR 79,063 JPY 10,000,000 22/01/2021 (81) (0.00) Sachs Goldman HKD 900,000 EUR 95,008 22/01/2021 (177) (0.00) Sachs

Total Fair Value Losses on Forward Currency Contracts (460) (0.01)

Total Forward Currency Contracts 6,336 0.06

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 9,884,907) 10,083,602 98.79

Cash and Cash Equivalents 1,118,016 10.95

Other Net Liabilities (994,316) (9.74)

Net Assets Attributable to Holders of Redeemable Participating Shares 10,207,302 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 89.95 Over the counter financial derivative instruments 0.06 Other Assets 9.99

100.00

ANIMA Funds Plc 587 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Equity

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 99.60% (2019: 98.78%)

Belgium: 2.20%

Banks: 0.66% 12,635 KBC Group NV 723,733 0.66

Beverages: 0.60% 11,539 Anheuser-Busch InBev SA 657,838 0.60

Chemicals: 0.94% 26,341 Umicore SA 1,034,938 0.94

Total Belgium 2,416,509 2.20

Denmark: 0.58%

Electric: 0.58% 3,844 Orsted A/S 642,176 0.58

Total Denmark 642,176 0.58

Finland: 1.55%

Oil & Gas: 0.99% 18,397 Neste OYJ 1,088,366 0.99

Paper & Forest Products: 0.56% 20,059 UPM-Kymmene OYJ 611,198 0.56

Total Finland 1,699,564 1.55

France: 29.82%

Apparel Retail: 3.76% 8,068 LVMH Moet Hennessy Louis Vuitton SE 4,121,941 3.76

Banks: 2.69% 45,373 BNP Paribas SA 1,955,803 1.78 57,350 Credit Agricole SA 591,852 0.54 23,731 Societe Generale SA 403,949 0.37

Beverages: 0.78% 5,450 Pernod Ricard SA 854,560 0.78

Building Products: 1.22% 35,577 Cie de Saint-Gobain 1,334,138 1.22

Chemicals: 2.12% 17,327 Air Liquide SA 2,326,150 2.12

Commercial Services & Supplies: 0.40% 20,357 Bureau Veritas SA 442,968 0.40

ANIMA Funds Plc 588 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.60% (2019: 98.78%)

France (continued): 29.82%

Computers & Peripherals: 0.86% 7,433 Capgemini SE 942,504 0.86

Distributors: 0.48% 40,714 Rexel SA 525,007 0.48

Diversified Financial Services: 0.67% 11,040 Amundi SA 737,472 0.67

Electical Components & Equipment: 3.70% 15,843 Legrand SA 1,156,539 1.06 24,525 Schneider Electric SE 2,901,307 2.64

Electric: 0.56% 49,495 Engie SA 619,677 0.56

Food: 2.34% 90,320 Carrefour SA 1,267,190 1.15 24,241 Danone SA 1,303,196 1.19

Healthcare Products: 1.05% 9,081 EssilorLuxottica SA 1,158,282 1.05

Insurance: 0.35% 19,775 AXA SA 385,850 0.35

Lodging: 0.47% 17,516 Accor SA 518,474 0.47

Media: 0.92% 38,299 Vivendi SA 1,010,328 0.92

Miscellaneous Manufacturers: 1.03% 24,325 Alstom SA 1,133,788 1.03

Oil & Gas: 2.50% 77,644 Total SA 2,740,833 2.50

Pharmaceuticals: 2.96% 41,258 Sanofi 3,247,005 2.96

Telecommunications: 0.63% 70,951 Orange SA 690,637 0.63

Water: 0.33% 17,846 Veolia Environnement SA 357,098 0.33

Total France 32,726,548 29.82

ANIMA Funds Plc 589 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.60% (2019: 98.78%)

Germany: 24.36%

Apparel Retail: 1.61% 5,931 adidas AG 1,766,845 1.61

Auto Components: 0.61% 12,596 Hella GmbH & Co KGaA 666,328 0.61

Automobile Manufacturers: 1.23% 10,437 Daimler AG 603,154 0.55 4,885 Volkswagen AG Pref 744,572 0.68

Chemicals: 1.70% 13,131 BASF SE 849,838 0.77 12,435 Brenntag AG 787,633 0.72 1,938 Wacker Chemie AG 226,262 0.21

Electric: 2.21% 57,592 E.ON SE 522,014 0.47 55,206 RWE AG 1,908,471 1.74

Healthcare Services: 0.90% 26,012 Fresenius SE & Co KGaA 984,294 0.90

Insurance: 4.08% 15,839 Allianz SE 3,178,887 2.90 5,348 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 1,298,495 1.18

Machinery Construction & Mining: 0.38% 13,783 Siemens Energy AG 413,490 0.38

Miscellaneous Manufacturers: 2.95% 27,568 Siemens AG 3,239,791 2.95

Pharmaceuticals: 1.30% 29,611 Bayer AG 1,425,918 1.30

Retail: 0.24% 2,926 Zalando SE 266,442 0.24

Semiconductors: 1.50% 52,616 Infineon Technologies AG 1,651,616 1.50

Software: 2.89% 29,558 SAP SE 3,169,209 2.89

Telecommunications: 1.00% 73,532 Deutsche Telekom AG 1,099,671 1.00

Transportation: 1.76% 47,605 Deutsche Post AG 1,928,002 1.76

Total Germany 26,730,932 24.36

ANIMA Funds Plc 590 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.60% (2019: 98.78%)

Ireland: 3.98%

Building Products: 2.51% 55,219 CRH Plc 1,878,550 1.71 15,379 Kingspan Group Plc 882,755 0.80

Chemicals: 0.66% 3,400 Linde Plc 724,200 0.66

Forest Products: 0.81% 23,271 Smurfit Kappa Group Plc 885,229 0.81

Total Ireland 4,370,734 3.98

Italy: 9.06%

Banks: 2.45% 85,175 FinecoBank Banca Fineco SpA 1,141,345 1.04 35,063 Illimity Bank SpA 315,216 0.29 641,886 Intesa Sanpaolo SpA 1,227,671 1.12

Commercial Services & Supplies: 0.90% 60,657 Nexi SpA 991,135 0.90

Construction & Engineering: 0.81% 104,969 Enav SpA 377,679 0.34 51,999 Infrastrutture Wireless Italiane SpA 516,350 0.47

Electric: 4.07% 389,830 Enel SpA 3,226,233 2.94 135,585 Hera SpA 404,043 0.37 133,059 Terna Rete Elettrica Nazionale SpA 831,619 0.76

Insurance: 0.35% 26,953 Assicurazioni Generali SpA 384,350 0.35

Oil & Gas: 0.48% 61,549 Eni SpA 526,121 0.48

Total Italy 9,941,762 9.06

Luxembourg: 0.34%

Oil & Gas Services: 0.34% 44,495 Subsea 7 SA 373,086 0.34

Total Luxembourg 373,086 0.34

ANIMA Funds Plc 591 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.60% (2019: 98.78%)

Netherlands: 11.71%

Aerospace & Defense: 1.77% 21,678 Airbus SE 1,946,251 1.77

Banks: 1.00% 143,351 ING Groep NV 1,095,345 1.00

Beverages: 1.45% 14,991 Heineken NV 1,367,479 1.25 6,115 JDE Peet’s BV 225,949 0.20

Chemicals: 0.94% 7,350 Koninklijke DSM NV 1,034,880 0.94

Food: 1.21% 8,778 Corbion NV 405,105 0.37 39,887 Koninklijke Ahold Delhaize NV 921,788 0.84

Health Care Providers & Services: 0.94% 23,559 Koninklijke Philips NV 1,031,413 0.94

Internet: 1.02% 12,620 Prosus NV 1,115,103 1.02

Semiconductors: 3.38% 9,326 ASML Holding NV 3,707,552 3.38

Total Netherlands 12,850,865 11.71

Norway: 0.75%

Environmental Control: 0.47% 12,881 Tomra Systems ASA 519,619 0.47

Oil & Gas: 0.28% 21,753 Equinor ASA 300,984 0.28

Total Norway 820,603 0.75

Portugal: 1.48%

Electric: 1.48% 315,361 EDP - Energias de Portugal SA 1,626,001 1.48

Total Portugal 1,626,001 1.48

ANIMA Funds Plc 592 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 99.60% (2019: 98.78%)

Spain: 6.71%

Banks: 1.54% 122,610 Banco Bilbao Vizcaya Argentaria SA 494,731 0.45 469,945 Banco Santander SA 1,192,721 1.09

Construction & Engineering: 0.25% 5,677 Cellnex Telecom SA 278,854 0.25

Electric: 2.94% 275,818 Iberdrola SA 3,227,070 2.94

Oil & Gas: 0.51% 67,239 Repsol SA 554,722 0.51

Pharmaceuticals: 0.31% 14,060 Grifols SA 335,753 0.31

Retail: 1.16% 49,052 Industria de Diseno Textil SA 1,277,314 1.16

Total Spain 7,361,165 6.71

Sweden: 0.57%

Telecommunications: 0.57% 64,025 Telefonaktiebolaget LM Ericsson 622,125 0.57

Total Sweden 622,125 0.57

Switzerland: 3.69%

Food: 0.51% 5,827 Nestle SA 561,712 0.51

Insurance: 0.78% 2,499 Zurich Insurance Group AG 862,993 0.78

Pharmaceuticals: 2.40% 15,832 Novartis AG 1,224,482 1.12 4,924 Roche Holding AG 1,406,783 1.28

Total Switzerland 4,055,970 3.69

United Kingdom: 2.80%

Cosmetics & Personal Care: 2.80% 61,927 Unilever Plc 3,069,412 2.80

Total United Kingdom 3,069,412 2.80

Total Equities 109,307,452 99.60

ANIMA Funds Plc 593 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Rights: 0.02%

Spain: 0.02% (2019:0.05%) 68,001 Repsol SA 19,088 0.02

Total Spain 19,088 0.02

Total Rights 19,088 0.02

Forward Currency Contracts: (0.03%) (2019: (0.03%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Goldman EUR 3,854,026 CHF 4,150,000 22/01/2021 16,500 0.02 Sachs Goldman EUR 235,170 DKK 1,750,000 22/01/2021 74 0.00 Sachs J.P. Morgan DKK 1,750,000 EUR 234,996 22/01/2021 100 0.00 J.P. Morgan EUR 278,960 CHF 300,000 22/01/2021 1,548 0.00 J.P. Morgan SEK 1,300,000 EUR 126,925 22/01/2021 2,424 0.00 Morgan SEK 4,400,000 EUR 434,043 22/01/2021 3,753 0.00 Stanley

Total Fair Value Gains on Forward Currency Contracts 24,399 0.02

Goldman EUR 785,757 NOK 8,450,000 22/01/2021 (20,501) (0.03) Sachs Goldman EUR 422,066 SEK 4,400,000 22/01/2021 (15,730) (0.01) Sachs J.P. Morgan EUR 65,035 NOK 700,000 22/01/2021 (1,755) (0.00) Morgan CHF 50,000 EUR 46,588 22/01/2021 (353) (0.00) Stanley Morgan EUR 378,991 SEK 3,950,000 22/01/2021 (14,031) (0.01) Stanley

Total Fair Value Losses on Forward Currency Contracts (52,370) (0.05)

Total Forward Currency Contracts (27,971) (0.03)

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 93,224,035) 109,298,569 99.59

Cash and Cash Equivalents 345,476 0.31

Other Net Assets 107,653 0.10

Net Assets Attributable to Holders of Redeemable Participating Shares 109,751,698 100.00

ANIMA Funds Plc 594 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 99.17 Over the counter financial derivative instruments 0.02 Other Assets 0.81

100.00

ANIMA Funds Plc 595 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Currencies

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 92.00% (2019: 74.75%)

Australia: 7.93%

Government Bonds: 7.93% 600,000 Australia Government Bond 5.75% 15/05/2021 386,178 7.93

Total Australia 386,178 7.93

Italy: 7.21%

Government Bonds: 7.21% 150,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 150,525 3.09 200,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/04/2021 200,298 4.12

Total Italy 350,823 7.21

Japan: 14.53%

Government Bonds: 14.53% 88,000,000 Japan Government Ten Year Bond 0.90% 20/06/2022 706,875 14.53

Total Japan 706,875 14.53

Norway: 9.74%

Government Bonds: 9.74% 4,900,000 Norway Government Bond 3.75% 25/05/2021 474,185 9.74

Total Norway 474,185 9.74

Sweden: 10.78%

Government Bonds: 10.78% 5,000,000 Sweden Government Bond 3.50% 01/06/2022 524,735 10.78

Total Sweden 524,735 10.78

United Kingdom: 25.48%

Government Bonds: 25.48% 750,000 United Kingdom Gilt 1.50% 22/01/2021 838,553 17.23 350,000 United Kingdom Gilt 3.75% 07/09/2021 401,220 8.25

Total United Kingdom 1,239,773 25.48

United States: 16.33%

Government Bonds: 16.33% 200,000 United States Treasury Note/Bond 2.00% 05/01/2021 163,550 3.36 250,000 United States Treasury Note/Bond 1.38% 31/01/2021 204,508 4.20 200,000 United States Treasury Note/Bond 1.13% 30/09/2021 164,691 3.39

ANIMA Funds Plc 596 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Currencies (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued) :92.00% (2019: 74.75%)

United States (continued): 16.33%

Government Bonds (continued): 16.33% 300,000 United States Treasury Note/Bond 8.00% 15/11/2021 261,853 5.38

Total United States 794,602 16.33

Total Bonds 4,477,171 92.00

Forward Currency Contracts: 0.55% (2019: (0.27%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets J.P. Morgan NZD 905,000 EUR 508,954 12/01/2021 23,534 0.48 Morgan DKK 3,900,000 EUR 523,897 12/01/2021 41 0.00 Stanley Nomura AUD 25,000 EUR 15,430 12/01/2021 335 0.01 Nomura CHF 550,000 EUR 508,435 12/01/2021 116 0.00 Nomura EUR 802,460 GBP 715,000 12/01/2021 3,754 0.08 Nomura EUR 206,261 JPY 26,000,000 12/01/2021 462 0.01 Nomura EUR 377,891 USD 450,000 12/01/2021 10,178 0.21

Total Fair Value Gains on Forward Currency Contracts 38,420 0.79

Morgan EUR 96,538 SEK 1,000,000 12/01/2021 (2,973) (0.06) Stanley Morgan HKD 4,480,000 EUR 481,021 12/01/2021 (8,880) (0.18) Stanley

Total Fair Value Losses on Forward Currency Contracts (11,853) (0.24)

Total Forward Currency Contracts 26,567 0.55

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 4,535,029) 4,503,738 92.55

Cash and Cash Equivalents 346,534 7.12

Other Net Assets 15,984 0.33

Net Assets Attributable to Holders of Redeemable Participating Shares 4,866,256 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 91.34 Over the counter financial derivative instruments 0.78 Other Assets 7.88

100.00

ANIMA Funds Plc 597 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Variable Rate Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 98.49% (2019: 98.57%)

Italy: 96.37%

Government Bonds: 96.37% 2,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 2,004,820 8.47 1,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 1,004,940 4.25 1,100,000 Italy Certificati di Credito Del Tesoro FRN 15/06/2022 1,107,884 4.68 1,800,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2022 1,819,181 7.69 1,500,000 Italy Certificati di Credito Del Tesoro FRN 15/07/2023 1,518,221 6.42 1,500,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 1,512,450 6.39 1,200,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 1,216,080 5.14 3,100,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 3,183,569 13.45 3,000,000 Italy Certificati di Credito Del Tesoro FRN 15/01/2025 3,166,830 13.38 2,700,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2025 2,755,904 11.64 2,500,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 2,515,200 10.63 1,000,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 1,001,956 4.23

Total Italy 22,807,035 96.37

Spain: 2.12%

Government Bonds: 2.12% 500,000 Spain Government Bond 0.05% 31/10/2021 502,588 2.12

Total Spain 502,588 2.12

Total Bonds 23,309,623 98.49

Futures contracts: 0.00% (2019: 0.04%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets (2,807,625) (25) Euro-Schatz Futures March 2021 750 0.00

Total Fair Value Gains on Open Futures Contracts 750 0.00

Total Futures Contracts 750 0.00

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 22,720,133) 23,310,373 98.49

Cash and Cash Equivalents and Due From Broker 295,014 1.25

Other Net Assets 61,758 0.26

Net Assets Attributable to Holders of Redeemable Participating Shares 23,667,145 100.00

ANIMA Funds Plc 598 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Variable Rate Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 98.32 Other Assets 1.68

100.00

ANIMA Funds Plc 599 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Hybrid Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 86.94% (2019: 95.27%)

Australia: 2.11%

Corporate Bonds: 2.11% 2,000,000 Scentre Group Trust 2 FRN 24/09/2080 1,703,876 1.69 500,000 Scentre Group Trust 2 FRN 24/09/2080 430,756 0.42

Total Australia 2,134,632 2.11

Austria: 2.70%

Corporate Bonds: 2.70% 700,000 AT&S Austria Technologie & Systemtechnik AG FRN 31/12/2099 661,500 0.65 1,000,000 Lenzing AG FRN 31/12/2099 1,020,800 1.01 1,000,000 OMV AG FRN 31/12/2099 1,048,750 1.04

Total Austria 2,731,050 2.70

France: 14.01%

Corporate Bonds: 14.01% 400,000 Electricite de France SA FRN 31/12/2099 420,000 0.42 600,000 Electricite de France SA FRN 31/12/2099 653,100 0.65 2,000,000 Electricite de France SA FRN 31/12/2099 2,160,000 2.14 2,000,000 La Banque Postale SA FRN 31/12/2099 2,040,000 2.02 2,000,000 La Poste SA FRN 31/12/2099 2,145,000 2.12 1,500,000 Solvay Finance SA FRN 29/12/2049 1,711,971 1.69 2,500,000 Unibail-Rodamco-Westfield SE FRN 31/12/2099 2,343,750 2.32 800,000 Unibail-Rodamco-Westfield SE FRN 31/12/2099 759,000 0.75 1,900,000 Veolia Environnement SA FRN 31/12/2099 1,919,000 1.90

Total France 14,151,821 14.01

Germany: 11.63%

Corporate Bonds: 11.63% 4,000,000 Bayer AG FRN % 02/04/2075 4,069,600 4.03 1,500,000 Bayer AG FRN 12/11/2079 1,573,125 1.56 500,000 BayWa AG FRN 31/12/2099 508,020 0.50 1,000,000 EnBW Energie Baden-Wuerttemberg AG FRN 05/04/2077 845,703 0.84 1,500,000 EnBW Energie Baden-Wuerttemberg AG FRN 29/06/2080 1,550,625 1.53 1,000,000 Infineon Technologies AG FRN 31/12/2099 1,036,030 1.02 1,000,000 Infineon Technologies AG FRN 31/12/2099 1,071,250 1.06 1,000,000 Merck KGaA FRN 25/06/2079 1,100,000 1.09

Total Germany 11,754,353 11.63

Italy: 8.69%

Corporate Bonds: 8.69% 3,000,000 Enel SpA FRN 24/09/2073 2,863,308 2.84 1,000,000 Enel SpA FRN 10/01/2074 1,124,750 1.11

ANIMA Funds Plc 600 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Hybrid Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 86.94% (2019: 95.27%)

Italy (continued): 8.69%

Corporate Bonds (continued): 8.69% 1,000,000 Enel SpA FRN 24/05/2080 1,091,250 1.08 2,000,000 Eni SpA FRN 31/12/2099 2,086,500 2.07 1,500,000 Eni SpA FRN 31/12/2099 1,608,750 1.59

Total Italy 8,774,558 8.69

Luxembourg: 2.80%

Corporate Bonds: 2.80% 1,000,000 Altice France Holding SA 4.00% 15/02/2028 950,000 0.94 1,000,000 Aroundtown SA FRN 31/12/2099 1,045,000 1.03 800,000 CPI Property Group SA FRN 31/12/2099 835,920 0.83

Total Luxembourg 2,830,920 2.80

Mexico: 0.45%

Corporate Bonds: 0.45% 400,000 America Movil SAB de CV FRN 06/09/2073 458,337 0.45

Total Mexico 458,337 0.45

Netherlands: 18.55%

Corporate Bonds: 18.55% 500,000 AT Securities BV FRN 31/12/2099 426,423 0.42 2,000,000 ATF Netherlands BV FRN 29/12/2049 2,077,500 2.06 1,000,000 Ferrovial Netherlands BV FRN 31/12/2099 987,500 0.98 1,000,000 JT International Financial Services BV FRN 07/04/2081 1,063,760 1.05 500,000 JT International Financial Services BV FRN 07/10/2083 552,500 0.55 500,000 Naturgy Finance BV FRN 29/11/2049 526,875 0.52 1,000,000 Repsol International Finance BV FRN 25/03/2075 1,095,910 1.08 300,000 Repsol International Finance BV FRN 31/12/2099 321,637 0.32 500,000 Repsol International Finance BV FRN 31/12/2099 554,375 0.55 3,000,000 Telefonica Europe BV FRN 31/03/2049 3,371,250 3.34 1,000,000 Telefonica Europe BV FRN 31/12/2099 1,018,660 1.01 300,000 Telefonica Europe BV FRN 31/12/2099 306,661 0.30 500,000 TenneT Holding BV FRN 31/12/2099 520,000 0.51 2,000,000 Volkswagen International Finance NV FRN 29/09/2049 2,180,000 2.16 1,000,000 Volkswagen International Finance NV FRN 31/12/2099 1,046,340 1.04 2,500,000 Volkswagen International Finance NV FRN % 31/12/2099 2,690,600 2.66

Total Netherlands 18,739,991 18.55

Portugal: 2.07%

Corporate Bonds: 2.07% 1,000,000 EDP - Energias de Portugal SA FRN 30/04/2079 1,097,000 1.09

ANIMA Funds Plc 601 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Hybrid Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 86.94% (2019: 95.27%)

Portugal (continued): 2.07%

Corporate Bonds (continued): 2.07% 1,000,000 EDP - Energias de Portugal SA FRN 20/07/2080 995,000 0.98

Total Portugal 2,092,000 2.07

Sweden: 8.70%

Corporate Bonds: 8.70% 1,000,000 Akelius Residential Property AB FRN 05/10/2078 1,060,000 1.05 1,000,000 Akelius Residential Property AB FRN 17/05/2081 1,009,250 1.00 2,500,000 Heimstaden Bostad AB FRN 31/12/2099 2,568,750 2.54 1,000,000 Heimstaden Bostad AB FRN 31/12/2099 1,038,080 1.03 1,000,000 Samhallsbyggnadsbolaget i Norden AB FRN 31/12/2099 996,750 0.99 1,000,000 Samhallsbyggnadsbolaget i Norden AB FRN 31/12/2099 1,068,092 1.06 500,000 Telia Co AB FRN 11/05/2081 506,250 0.50 500,000 Vattenfall AB FRN 19/03/2077 538,125 0.53

Total Sweden 8,785,297 8.70

United Kingdom: 12.25%

Corporate Bonds: 12.25% 2,000,000 BP Capital Markets Plc FRN 31/12/2099 2,130,000 2.11 1,500,000 BP Capital Markets Plc FRN 31/12/2099 1,638,750 1.62 1,000,000 BP Capital Markets Plc FRN 31/12/2099 874,545 0.87 500,000 British Telecommunications Plc FRN 18/08/2080 490,000 0.48 1,500,000 SSE Plc FRN 31/12/2099 1,593,048 1.58 1,500,000 SSE Plc FRN 31/12/2099 1,768,667 1.75 2,000,000 Vodafone Group Plc FRN 03/10/2078 1,807,037 1.79 2,000,000 Vodafone Group Plc FRN 03/01/2079 2,072,947 2.05

Total United Kingdom 12,374,994 12.25

United States: 2.98%

Corporate Bonds: 2.98% 3,000,000 AT&T Inc FRN 31/12/2099 3,013,500 2.98

Total United States 3,013,500 2.98

Total Bonds 87,841,453 86.94

Forward Currency Contracts: 0.19% (2019: (0.13%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Credit EUR 1,363,144 USD 1,600,000 12/01/2021 55,719 0.06 Agricole

ANIMA Funds Plc 602 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Hybrid Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts(continued): 0.19% (2019: (0.13%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Morgan EUR 7,786,106 USD 9,350,000 12/01/2021 145,843 0.14 Stanley Unicredit EUR 4,413,378 GBP 3,950,000 12/01/2021 947 0.00 Bank Unicredit EUR 909,297 USD 1,100,000 12/01/2021 10,442 0.01 Bank

Total Fair Value Gains on Forward Currency Contracts 212,951 0.21

Morgan USD 900,000 EUR 757,115 12/01/2021 (21,689) (0.02) Stanley Unicredit GBP 2,300,000 EUR 2,570,128 12/01/2021 (864) (0.00) Bank

Total Fair Value Losses on Forward Currency Contracts (22,553) (0.02)

Total Forward Currency Contracts 190,398 0.19

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 85,966,264) 88,031,851 87.13

Cash and Cash Equivalents 11,806,362 11.68

Other Net Assets 1,201,661 1.19

Net Assets Attributable to Holders of Redeemable Participating Shares 101,039,874 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 86.60 Over the counter financial derivative instruments 0.21 Other Assets 13.19

100.00

ANIMA Funds Plc 603 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Government Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 98.65% (2019: 96.13%)

Australia: 0.45%

Corporate Bonds: 0.45% 400,000 Scentre Group Trust 1 / Scentre Group Trust 2 1.45% 28/03/2029 423,499 0.26 300,000 Vicinity Centres Trust 1.13% 07/11/2029 310,029 0.19

Total Australia 733,528 0.45

Austria: 1.36%

Corporate Bonds: 0.33% 500,000 Raiffeisen Bank International AG FRN 18/06/2032 538,502 0.33

Government Bonds: 1.03% 600,000 Austria Government Bond Zero Coupon 20/02/2030 623,651 0.39 750,000 Austria Government Bond 1.50% 20/02/2047 1,036,095 0.64

Total Austria 2,198,248 1.36

Belgium: 4.17%

Government Bonds: 4.17% 1,500,000 Belgium Government Bond 0.80% 22/06/2028 1,652,313 1.02 800,000 Belgium Government Bond 0.10% 22/06/2030 837,593 0.52 1,350,000 Belgium Government Bond 1.90% 22/06/2038 1,793,669 1.11 1,850,000 Belgium Government Bond 1.60% 22/06/2047 2,465,914 1.52

Total Belgium 6,749,489 4.17

British Virgin Islands: 0.19%

Corporate Bonds: 0.19% 300,000 State Grid Overseas Investment 2016 Ltd 0.80% 05/08/2026 305,924 0.19

Total British Virgin Islands 305,924 0.19

Finland: 0.13%

Corporate Bonds: 0.13% 200,000 Nokia OYJ 2.00% 15/03/2024 207,020 0.13

Total Finland 207,020 0.13

France: 15.05%

Corporate Bonds: 1.41% 300,000 Engie SA FRN 31/12/2099 328,575 0.20 200,000 Klepierre SA 2.00% 12/05/2029 223,383 0.14 300,000 La Poste SA FRN 31/12/2099 321,750 0.20 400,000 Tikehau Capital SCA 2.25% 14/10/2026 413,411 0.25

ANIMA Funds Plc 604 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Government Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 98.65% (2019: 96.13%)

France (continued): 15.05%

Corporate Bonds (continued): 1.41% 200,000 Total SA FRN 31/12/2099 205,060 0.13 300,000 Unibail-Rodamco-Westfield SE 1.38% 04/12/2031 301,995 0.19 200,000 Unibail-Rodamco-Westfield SE FRN 31/12/2099 187,500 0.11 300,000 Veolia Environnement SA FRN 31/12/2099 303,000 0.19

Government Bonds: 13.64% 4,000,000 France Government Bond OAT 0.25% 25/11/2026 4,204,556 2.59 1,600,000 France Government Bond OAT 0.70% 25/07/2030 2,034,523 1.26 1,400,000 France Government Bond OAT 1.25% 25/05/2034 1,667,288 1.03 1,250,000 France Government Bond OAT 1.25% 25/05/2036 1,503,587 0.93 1,500,000 France Government Bond OAT 2.00% 25/05/2048 2,185,644 1.35 4,000,000 French Republic Government Bond OAT Zero Coupon 25/03/2025 4,114,480 2.54 1,250,000 French Republic Government Bond OAT 0.10% 01/03/2026 1,343,708 0.83 1,000,000 French Republic Government Bond OAT 1.75% 25/06/2039 1,321,160 0.81 3,350,000 French Republic Government Bond OAT 0.75% 25/05/2052 3,731,900 2.30

Total France 24,391,520 15.05

Germany: 5.25%

Corporate Bonds: 1.20% 200,000 Allianz SE FRN 31/12/2099 205,640 0.13 300,000 Bayer AG FRN 02/04/2075 305,220 0.19 500,000 Bayer AG FRN 12/11/2079 507,500 0.31 300,000 BayWa AG 3.13% 26/06/2024 316,500 0.19 300,000 EnBW Energie Baden-Wuerttemberg AG FRN 29/06/2080 310,125 0.19 300,000 Merck KGaA FRN 25/06/2079 307,500 0.19

Government Bonds: 4.05% 3,000,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/05/2035 3,170,619 1.96 250,000 Bundesrepublik Deutschland Bundesanleihe 3.25% 04/07/2042 449,825 0.28 2,800,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/08/2050 2,937,738 1.81

Total Germany 8,510,667 5.25

Greece: 5.87%

Government Bonds: 5.87% 5,000,000 Hellenic Republic Treasury Bill Zero Coupon 12/03/2021 5,001,605 3.09 4,500,000 Hellenic Republic Treasury Bill Zero Coupon 11/06/2021 4,501,885 2.78

Total Greece 9,503,490 5.87

ANIMA Funds Plc 605 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Government Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 98.65% (2019: 96.13%)

Ireland: 0.80%

Government Bonds: 0.80% 900,000 Ireland Government Bond 2.00% 18/02/2045 1,293,044 0.80

Total Ireland 1,293,044 0.80

Italy: 45.15%

Corporate Bonds: 8.41% 500,000 Acquirente Unico SpA 2.80% 20/02/2026 552,881 0.34 2,250,000 AMCO - Asset Management Co SpA 1.38% 27/01/2025 2,339,474 1.44 500,000 Assicurazioni Generali SpA FRN 30/11/2049 561,000 0.35 400,000 ASTM SpA 1.63% 08/02/2028 412,867 0.25 100,000 Autostrade per l’Italia SpA 1.63% 12/06/2023 99,552 0.06 500,000 Autostrade per l’Italia SpA 2.00% 04/12/2028 501,250 0.31 500,000 Banca Monte dei Paschi di Siena SpA 1.88% 09/01/2026 495,257 0.31 1,000,000 Banca Popolare di Sondrio SCPA 2.38% 03/04/2024 1,035,160 0.64 500,000 Banco BPM SpA 7.13% 01/03/2021 504,416 0.31 500,000 Banco BPM SpA 2.50% 21/06/2024 526,765 0.33 700,000 Banco BPM SpA 1.63% 18/02/2025 692,789 0.43 500,000 Credito Emiliano SpA FRN 25/10/2025 510,226 0.32 300,000 Eni SpA FRN 31/12/2099 312,975 0.19 200,000 Eni SpA FRN 31/12/2099 214,500 0.13 200,000 FCA Bank SpA 0.50% 08/09/2023 201,856 0.12 500,000 Infrastrutture Wireless Italiane SpA 1.88% 08/07/2026 523,208 0.32 200,000 Infrastrutture Wireless Italiane SpA 1.63% 21/10/2028 205,266 0.13 500,000 Intesa Sanpaolo SpA 6.63% 13/09/2023 569,848 0.35 500,000 Mediobanca Banca di Credito Finanziario SpA 1.13% 23/04/2025 511,002 0.32 300,000 Telecom Italia SpA 2.50% 19/07/2023 313,500 0.19 300,000 UniCredit SpA FRN 22/07/2027 318,245 0.20 400,000 Unione di Banche Italiane SpA 2.63% 20/06/2024 427,259 0.26 1,000,000 Unione di Banche Italiane SpA FRN 15/09/2027 1,050,000 0.65 500,000 Unipol Gruppo SpA 3.00% 18/03/2025 533,267 0.33 200,000 Unipol Gruppo SpA 3.50% 29/11/2027 215,254 0.13

Government Bonds: 36.74% 5,000,000 Cassa Depositi e Prestiti SpA 1.50% 20/04/2023 5,191,070 3.20 1,200,000 Cassa Depositi e Prestiti SpA 2.00% 20/04/2027 1,322,556 0.82 1,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 1,505,247 0.93 2,500,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 2,521,633 1.56 4,000,000 Italy Buoni Poliennali Del Tesoro 5.13% 31/07/2024 4,727,952 2.92 4,000,000 Italy Buoni Poliennali Del Tesoro 1.85% 01/07/2025 4,352,736 2.69 1,500,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/07/2026 1,670,925 1.03 2,000,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 2,697,315 1.66 1,500,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 1,574,550 0.97 6,550,000 Italy Buoni Poliennali Del Tesoro 1.35% 01/04/2030 7,087,866 4.37 1,300,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/08/2030 1,358,698 0.84 3,300,000 Italy Buoni Poliennali Del Tesoro 1.65% 01/12/2030 3,660,789 2.26 4,000,000 Italy Buoni Poliennali Del Tesoro 0.90% 01/04/2031 4,139,594 2.55 1,000,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 1,073,705 0.66 1,500,000 Italy Buoni Poliennali Del Tesoro 3.10% 01/03/2040 2,003,098 1.24

ANIMA Funds Plc 606 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Government Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 98.65% (2019: 96.13%)

Italy (continued): 45.15%

Government Bonds (continued): 36.74% 1,500,000 Italy Buoni Poliennali Del Tesoro 1.80% 01/03/2041 1,658,484 1.02 1,200,000 Italy Buoni Poliennali Del Tesoro 5.35% 27/01/2048 2,121,636 1.31 1,500,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/09/2050 1,871,100 1.15 300,000 Italy Buoni Poliennali Del Tesoro 2.80% 01/03/2067 401,974 0.25 4,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 4,019,759 2.48 4,550,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 4,577,655 2.83

Total Italy 73,166,159 45.15

Luxembourg: 1.71%

Corporate Bonds: 1.71% 200,000 Aroundtown SA 1.50% 28/05/2026 211,498 0.13 875,000 European Financial Stability Facility 0.88% 10/04/2035 1,008,749 0.62 600,000 European Union Zero Coupon 04/10/2030 624,919 0.38 690,000 European Union Zero Coupon 04/07/2035 708,445 0.44 200,000 Helvetia Europe SA FRN 30/09/2041 220,278 0.14

Total Luxembourg 2,773,889 1.71

Netherlands: 3.40%

Corporate Bonds: 1.13% 500,000 JT International Financial Services BV FRN 07/04/2081 531,880 0.33 500,000 Telefonica Europe BV FRN 31/03/2049 561,875 0.35 200,000 Telefonica Europe BV FRN 31/12/2099 204,441 0.12 500,000 Upjohn Finance BV 1.36% 23/06/2027 529,801 0.33

Government Bonds: 2.27% 1,300,000 Netherlands Government Bond 0.25% 15/07/2029 1,391,262 0.86 2,000,000 Netherlands Government Bond 0.50% 15/01/2040 2,296,800 1.41

Total Netherlands 5,516,059 3.40

Portugal: 2.44%

Government Bonds: 2.44% 750,000 Portugal Obrigacoes do Tesouro OT 2.88% 21/07/2026 885,937 0.55 700,000 Portugal Obrigacoes do Tesouro OT 0.70% 15/10/2027 745,084 0.46 500,000 Portugal Obrigacoes do Tesouro OT 1.95% 15/06/2029 586,297 0.36 1,000,000 Portugal Obrigacoes do Tesouro OT 0.48% 18/10/2030 1,042,970 0.64 400,000 Portugal Obrigacoes do Tesouro OT 4.10% 15/02/2045 695,201 0.43

Total Portugal 3,955,489 2.44

ANIMA Funds Plc 607 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Government Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 98.65% (2019: 96.13%)

Spain: 11.82%

Corporate Bonds: 1.18% 300,000 Abertis Infraestructuras SA 2.25% 29/03/2029 328,744 0.20 500,000 Banco de Sabadell SA FRN 12/12/2028 544,652 0.34 300,000 Cellnex Telecom SA 2.88% 18/04/2025 324,252 0.20 200,000 Cepsa Finance SA 0.75% 12/02/2028 190,960 0.12 200,000 Inmobiliaria Colonial Socimi SA 2.00% 17/04/2026 215,037 0.13 300,000 Inmobiliaria Colonial Socimi SA 1.35% 14/10/2028 309,694 0.19

Government Bonds: 10.64% 2,400,000 Spain Government Bond 2.75% 31/10/2024 2,701,680 1.67 1,200,000 Spain Government Bond 1.60% 30/04/2025 1,308,953 0.81 500,000 Spain Government Bond 2.15% 31/10/2025 563,013 0.35 750,000 Spain Government Bond 1.40% 30/07/2028 840,057 0.52 2,300,000 Spain Government Bond 1.45% 30/04/2029 2,598,046 1.60 2,100,000 Spain Government Bond 0.50% 30/04/2030 2,199,952 1.36 1,000,000 Spain Government Bond 1.85% 30/07/2035 1,210,548 0.74 2,000,000 Spain Government Bond 1.20% 31/10/2040 2,214,414 1.36 1,500,000 Spain Government Bond 2.70% 31/10/2048 2,203,410 1.36 1,200,000 Spain Government Inflation Linked Bond 0.65% 30/11/2027 1,408,357 0.87

Total Spain 19,161,769 11.82

Sweden: 0.06%

Corporate Bonds: 0.06% 100,000 Scania CV AB 0.50% 06/10/2023 101,090 0.06

Total Sweden 101,090 0.06

United Kingdom: 0.80%

Corporate Bonds: 0.80% 500,000 BP Capital Markets Plc FRN 31/12/2099 532,500 0.33 200,000 FCE Bank Plc 1.62% 11/05/2023 200,102 0.12 500,000 Lloyds Banking Group Plc FRN 01/04/2026 568,206 0.35

Total United Kingdom 1,300,808 0.80

Total Bonds 159,868,193 98.65

Futures contracts: (0.04%) (2019: (0.01%)) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets (10,140,000) (75) Euro-Bobl Futures March 2021 1,500 0.00 5,010,300 30 Euro-OAT Futures March 2021 25,500 0.02

Total Fair Value Gains on Open Futures Contracts 27,000 0.02

ANIMA Funds Plc 608 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Euro Government Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Futures contracts: (0.04%) (2019: (0.01%)) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets (2,664,450) (15) Euro Bund Futures March 2021 (150) (0.00) (15,873,379) (105) Euro-BTP Futures March 2021 (87,670) (0.06) (5,093,329) (45) Short Euro-BTP Futures March 2021 (2,471) (0.00)

Total Fair Value Losses on Open Futures Contracts (90,291) (0.06)

Total Futures Contracts (63,291) (0.04)

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 153,254,361) 159,804,902 98.61

Cash and Cash Equivalents and Due From Broker 4,117,739 2.54

Other Net Liabilities (1,860,206) (1.15)

Net Assets Attributable to Holders of Redeemable Participating Shares 162,062,435 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 96.85 Financial derivative instruments dealt in on a regulated market 0.02 Other Assets 3.13

100.00

ANIMA Funds Plc 609 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 56.31% (2019: 52.92%)

Cyprus: 0.74%

Mining: 0.74% 344,564 Polymetal International Plc 6,484,428 0.74

Total Cyprus 6,484,428 0.74

Finland: 0.27%

Paper & Forest Products: 0.27% 78,000 UPM-Kymmene OYJ 2,376,660 0.27

Total Finland 2,376,660 0.27

France: 12.79%

Advertising: 0.19% 42,000 Publicis Groupe SA 1,711,920 0.19

Aerospace & Defense: 0.48% 36,000 Safran SA 4,174,200 0.48

Automobile Manufacturers: 1.01% 393,250 Peugeot SA 8,797,003 1.01

Banks: 0.49% 250,500 Societe Generale SA 4,264,011 0.49

Chemicals: 1.02% 66,198 Air Liquide SA 8,887,081 1.02

Commercial Services & Supplies: 0.68% 75,500 Bureau Veritas SA 1,642,880 0.19 43,000 Edenred 1,995,630 0.23 29,000 Worldline SA 2,293,900 0.26

Computers & Peripherals: 0.21% 14,700 Capgemini SE 1,863,960 0.21

Construction & Engineering: 0.40% 103,425 Bouygues SA 3,480,251 0.40

Diversified Financial Services: 0.50% 65,883 Amundi SA 4,400,984 0.50

Electical Components & Equipment: 0.25% 30,500 Legrand SA 2,226,500 0.25

Electric: 1.79% 471,887 Electricite de France SA 6,084,983 0.70 761,895 Engie SA 9,538,925 1.09

ANIMA Funds Plc 610 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 56.31% (2019: 52.92%)

France (continued): 12.79%

Food: 1.56% 314,921 Carrefour SA 4,418,342 0.51 80,000 Danone SA 4,300,800 0.49 70,500 Sodexo SA 4,880,010 0.56

Healthcare Products: 0.99% 67,750 EssilorLuxottica SA 8,641,513 0.99

Insurance: 0.90% 280,000 AXA SA 5,463,360 0.63 90,000 SCOR SE 2,377,800 0.27

Media: 0.61% 201,190 Vivendi SA 5,307,392 0.61

Oil & Gas: 0.91% 225,447 Total SA 7,958,279 0.91

Real Estate Investment Trust: 0.10% 7,350 Gecina SA 928,305 0.10

Telecommunications: 0.70% 627,000 Orange SA 6,103,218 0.70

Total France 111,741,247 12.79

Germany: 9.74%

Apparel Retail: 0.68% 64,081 Puma SE 5,913,395 0.68

Automobile Manufacturers: 0.29% 17,000 Volkswagen AG Pref 2,591,140 0.29

Chemicals: 0.45% 34,000 Covestro AG 1,716,320 0.20 20,500 Symrise AG 2,222,200 0.25

Electric: 1.45% 368,039 RWE AG 12,723,108 1.45

Healthcare Products: 0.61% 126,500 Siemens Healthineers AG 5,310,470 0.61

Household Products/Wares: 0.32% 30,000 Henkel AG & Co KGaA Pref 2,769,000 0.32

Iron & Steel: 0.52% 560,000 Thyssenkrupp AG 4,549,440 0.52

ANIMA Funds Plc 611 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 56.31% (2019: 52.92%)

Germany (continued): 9.74%

Machinery Construction & Mining: 0.69% 201,298 Siemens Energy AG 6,038,940 0.69

Pharmaceuticals: 1.22% 221,000 Bayer AG 10,642,255 1.22

Retail: 0.62% 59,501 Zalando SE 5,418,161 0.62

Semiconductors: 1.62% 450,587 Infineon Technologies AG 14,143,926 1.62

Software: 0.54% 107,473 TeamViewer AG 4,710,542 0.54

Transportation: 0.73% 157,009 Deutsche Post AG 6,358,864 0.73

Total Germany 85,107,761 9.74

Greece: 0.23%

Telecommunications: 0.23% 150,969 Hellenic Telecommunications Organization SA 1,989,772 0.23

Total Greece 1,989,772 0.23

Guernsey: 0.00%

Real Estate: 0.00% 50,000 Squarestone Brasil Ltd - 0.00

Total Guernsey -0.00

Ireland: 0.53%

Forest Products: 0.53% 121,753 Smurfit Kappa Group Plc 4,631,484 0.53

Total Ireland 4,631,484 0.53

Isle of Man: 0.56%

Entertainment: 0.56% 386,776 Entain Plc 4,897,921 0.56

Total Isle of Man 4,897,921 0.56

ANIMA Funds Plc 612 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 56.31% (2019: 52.92%)

Italy: 5.50%

Auto Components: 0.29% 582,000 Pirelli & C SpA 2,580,006 0.29

Banks: 0.63% 378,000 Banca Mediolanum SpA 2,683,800 0.31 212,848 FinecoBank Banca Fineco SpA 2,852,163 0.32

Commercial Services & Supplies: 0.30% 160,000 Nexi SpA 2,614,400 0.30

Construction & Engineering: 0.40% 352,045 Infrastrutture Wireless Italiane SpA 3,495,807 0.40

Electric: 2.22% 2,348,161 Enel SpA 19,433,380 2.22

Electrical Equipment: 0.63% 188,010 Prysmian SpA 5,467,331 0.63

Energy Sources: 0.21% 77,838 ERG SpA 1,821,409 0.21

Insurance: 0.82% 499,830 Assicurazioni Generali SpA 7,127,576 0.82

Total Italy 48,075,872 5.50

Jersey, Channel Islands: 2.11%

Advertising: 1.04% 1,021,267 WPP Plc 9,127,672 1.04

Mining: 1.07% 3,581,382 Glencore Plc 9,322,605 1.07

Total Jersey, Channel Islands 18,450,277 2.11

Luxembourg: 0.79%

Iron & Steel: 0.79% 362,358 ArcelorMittal SA 6,841,319 0.79

Total Luxembourg 6,841,319 0.79

Netherlands: 2.07%

Beverages: 0.30% 28,500 Heineken NV 2,599,770 0.30

ANIMA Funds Plc 613 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 56.31% (2019: 52.92%)

Netherlands (continued): 2.07%

Chemicals: 0.26% 15,900 Koninklijke DSM NV 2,238,720 0.26

Commercial Services & Supplies: 1.08% 4,969 Adyen NV 9,465,945 1.08

Retail: 0.43% 25,672 Shop Apotheke Europe NV 3,804,590 0.43

Total Netherlands 18,109,025 2.07

Portugal: 1.48%

Electric: 1.48% 2,500,770 EDP - Energias de Portugal SA 12,893,970 1.48

Total Portugal 12,893,970 1.48

Spain: 0.74%

Banks: 0.59% 2,022,173 Banco Santander SA 5,132,275 0.59

Iron & Steel: 0.15% 146,000 Acerinox SA 1,318,964 0.15

Total Spain 6,451,239 0.74

Sweden: 1.73%

Banks: 1.09% 513,980 Skandinaviska Enskilda Banken AB 4,322,184 0.49 635,000 Svenska Handelsbanken AB 5,219,802 0.60

Machinery - Diversified: 0.36% 74,500 Atlas Copco AB 3,122,064 0.36

Miscellaneous Manufacturers: 0.28% 110,000 Alfa Laval AB 2,477,294 0.28

Total Sweden 15,141,344 1.73

Switzerland: 4.34%

Banks: 0.57% 430,473 UBS Group AG 4,963,214 0.57

Beverages: 0.20% 67,000 Coca-Cola HBC AG 1,779,241 0.20

ANIMA Funds Plc 614 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 56.31% (2019: 52.92%)

Switzerland (continued): 4.34%

Building Products: 0.79% 4,725 Geberit AG 2,421,135 0.28 100,000 LafargeHolcim Ltd 4,495,371 0.51

Commercial Services & Supplies: 0.51% 1,800 SGS SA 4,443,594 0.51

Electronics: 0.24% 90,000 ABB Ltd 2,056,202 0.24

Healthcare Products: 0.45% 73,000 Alcon Inc 3,971,423 0.45

Insurance: 0.97% 110,250 Swiss RE AG 8,495,378 0.97

Retail: 0.61% 71,750 Cie Financiere Richemont SA 5,312,471 0.61

Total Switzerland 37,938,029 4.34

United Kingdom: 9.49%

Agriculture: 0.63% 321,505 Imperial Brands Plc 5,515,289 0.63

Apparel Retail: 0.61% 268,500 Burberry Group Plc 5,367,929 0.61

Banks: 0.63% 1,055,000 Standard Chartered Plc 5,491,310 0.63

Commercial Services & Supplies: 0.87% 119,731 Ashtead Group Plc 4,598,786 0.53 151,000 RELX Plc 3,024,530 0.34

Electric: 0.51% 263,000 SSE Plc 4,407,352 0.51

Food: 0.69% 77,000 Associated British Foods Plc 1,947,591 0.22 1,578,430 Tesco Plc 4,080,557 0.47

Healthcare Products: 0.50% 257,000 Smith & Nephew Plc 4,335,516 0.50

Home Builders: 0.51% 144,902 Persimmon Plc 4,479,343 0.51

ANIMA Funds Plc 615 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 56.31% (2019: 52.92%)

United Kingdom (continued): 9.49%

Insurance: 0.80% 1,915,319 Aviva Plc 6,958,608 0.80

Internet: 0.10% 16,500 ASOS Plc 881,688 0.10

Mining: 1.21% 390,188 Anglo American Plc 10,568,828 1.21

Miscellaneous Manufacturers: 0.19% 129,000 IMI Plc 1,678,983 0.19

Oil & Gas: 1.14% 684,000 Royal Dutch Shell Plc 9,995,976 1.14

Real Estate Investment Trust: 0.20% 163,000 Segro Plc 1,725,613 0.20

Telecommunications: 0.90% 5,800,000 Vodafone Group Plc 7,836,618 0.90

Total United Kingdom 82,894,517 9.49

United States: 3.20%

Commercial Services & Supplies: 0.41% 20,500 Global Payments Inc 3,609,260 0.41

Computers & Peripherals: 0.65% 120,000 Dxc Technology Co 2,525,439 0.29 70,000 Western Digital Corp 3,168,894 0.36

Internet: 0.59% 126,000 Snap Inc 5,156,161 0.59

Semiconductors: 1.03% 146,699 Micron Technology Inc 9,013,797 1.03

Software: 0.52% 16,250 Twilio Inc 4,495,628 0.52

Total United States 27,969,179 3.20

Total Equities 491,994,044 56.31

ANIMA Funds Plc 616 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 26.08% (2019: 28.45%)

Belgium: 10.99%

Government Bonds: 10.99% 92,700,000 Belgium Government Bond 4.25% 28/09/2021 96,055,592 10.99

Total Belgium 96,055,592 10.99

Italy: 15.09%

Government Bonds: 15.09% 131,600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/04/2021 131,840,058 15.09

Total Italy 131,840,058 15.09

Total Bonds 227,895,650 26.08

Futures contracts: (0.15%) (2019: (0.01%)) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets (4,108,000) (395) STOXX 600 TLCM Futures March 2021 35,550 0.00

Total Fair Value Gains on Open Futures Contracts 35,550 0.00

(22,462,772) (68) DAX Index Futures March 2021 (905,428) (0.11) (21,752,376) (620) Euro STOXX 50 Futures March 2021 (257,624) (0.03) (471,052) (130) Stadler Rail AG March 2021 (12,871) (0.00) (2,527,275) (310) STOXX 600 Real Estate Futures March 2021 (118,575) (0.01)

Total Fair Value Losses on Open Futures Contracts (1,294,498) (0.15)

Total Futures Contracts (1,258,948) (0.15)

Forward Currency Contracts: (0.05%) (2019: (0.46%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Goldman EUR 33,296,418 GBP 29,700,000 22/01/2021 124,869 0.02 Sachs Goldman EUR 40,602,104 USD 48,100,000 22/01/2021 1,306,883 0.16 Sachs Goldman GBP 18,500,000 EUR 20,368,527 22/01/2021 293,886 0.03 Sachs J.P. Morgan GBP 18,400,000 EUR 20,254,273 22/01/2021 296,452 0.03 Morgan EUR 29,772,147 CHF 32,000,000 22/01/2021 181,579 0.02 Stanley Morgan EUR 6,047,087 DKK 45,000,000 22/01/2021 1,765 0.00 Stanley Morgan EUR 22,422,037 GBP 20,000,000 22/01/2021 84,293 0.01 Stanley

ANIMA Funds Plc 617 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts(continued): (0.05%) (2019: (0.46%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Morgan EUR 35,141,459 USD 41,700,000 22/01/2021 1,074,707 0.12 Stanley Morgan GBP 2,500,000 EUR 2,766,285 22/01/2021 25,933 0.00 Stanley

Total Fair Value Gains on Forward Currency Contracts 3,390,367 0.39

Goldman EUR 12,274,518 GBP 11,100,000 22/01/2021 (122,930) (0.01) Sachs J.P. Morgan EUR 19,069,039 GBP 17,300,000 22/01/2021 (253,109) (0.02) Morgan EUR 77,221,945 GBP 71,000,000 22/01/2021 (2,077,045) (0.24) Stanley Morgan EUR 6,548,176 NOK 70,000,000 22/01/2021 (130,884) (0.02) Stanley Morgan EUR 20,096,455 SEK 209,600,000 22/01/2021 (758,555) (0.09) Stanley Morgan USD 23,900,000 EUR 20,040,595 22/01/2021 (515,527) (0.06) Stanley

Total Fair Value Losses on Forward Currency Contracts (3,858,050) (0.44)

Total Forward Currency Contracts (467,683) (0.05)

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 650,941,807) 718,163,063 82.19

Cash and Cash Equivalents and Due From Broker 157,145,903 17.99

Other Net Liabilities (1,565,663) (0.18)

Net Assets Attributable to Holders of Redeemable Participating Shares 873,743,303 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 81.02 Over the counter financial derivative instruments 0.38 Other Assets 18.60

100.00

ANIMA Funds Plc 618 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 83.59% (2019: 85.43%)

Canada: 0.14%

Corporate Bonds: 0.14% 500,000 Bombardier Inc 7.45% 01/05/2034 357,566 0.14

Total Canada 357,566 0.14

France: 0.20%

Corporate Bonds: 0.20% 500,000 La Mondiale SAM FRN 31/12/2099 540,625 0.20

Total France 540,625 0.20

Germany: 6.00%

Government Bonds: 6.00% 15,000,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/05/2035 15,853,095 6.00

Total Germany 15,853,095 6.00

Italy: 55.64%

Corporate Bonds: 0.25% 600,000 Enel SpA FRN 24/05/2080 654,750 0.25

Government Bonds: 55.39% 5,000,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 5,254,085 1.99 14,000,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 14,223,621 5.39 7,500,000 Italy Buoni Poliennali Del Tesoro 0.60% 15/06/2023 7,687,500 2.91 2,500,000 Italy Buoni Poliennali Del Tesoro 0.35% 01/02/2025 2,554,725 0.97 15,500,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/05/2025 16,568,012 6.28 19,350,000 Italy Buoni Poliennali Del Tesoro 1.85% 01/07/2025 21,056,360 7.97 13,000,000 Italy Buoni Poliennali Del Tesoro 0.50% 01/02/2026 13,332,800 5.05 10,500,000 Italy Buoni Poliennali Del Tesoro 0.65% 28/10/2027 10,776,508 4.08 6,600,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/08/2030 6,898,003 2.61 2,000,000 Italy Buoni Poliennali Del Tesoro 5.20% 31/07/2034 3,036,800 1.15 3,650,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 3,919,024 1.48 2,000,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 2,832,600 1.07 30,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 30,072,300 11.39 8,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 28/09/2022 8,054,480 3.05

Total Italy 146,921,568 55.64

Portugal: 0.21%

Corporate Bonds: 0.21% 500,000 EDP - Energias de Portugal SA FRN 30/04/2079 548,500 0.21

Total Portugal 548,500 0.21

ANIMA Funds Plc 619 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 83.59% (2019: 85.43%)

United States: 20.83%

Government Bonds: 20.83% 50,000 United States Treasury Note/Bond 2.25% 15/02/2027 45,155 0.02 10,000,000 United States Treasury Note/Bond 0.63% 31/03/2027 8,218,913 3.11 50,000 United States Treasury Note/Bond 2.38% 15/05/2027 45,566 0.02 50,000 United States Treasury Note/Bond 2.25% 15/08/2027 45,294 0.02 50,000 United States Treasury Note/Bond 2.25% 15/11/2027 45,357 0.02 45,000,000 United States Treasury Note/Bond 1.75% 15/11/2029 39,724,798 15.04 9,000,000 United States Treasury Note/Bond 1.38% 15/08/2050 6,872,932 2.60

Total United States 54,998,015 20.83

Venezuela: 0.57%

Corporate Bonds: 0.57% 1,500,000 Corp Andina de Fomento 1.88% 29/05/2021 1,512,150 0.57

Total Venezuela 1,512,150 0.57

Total Bonds 220,731,519 83.59

Futures contracts: (0.01%) (2019: 0.3%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets (62,606,560) (352) Euro Bund Futures March 2021 77,280 0.03 31,587,403 280 U.S. 10 Years Note Futures March 2021 10,715 0.00

Total Fair Value Gains on Open Futures Contracts 87,995 0.03

(22,707,000) (150) Euro-BTP Futures March 2021 (94,500) (0.04)

Total Fair Value Losses on Open Futures Contracts (94,500) (0.04)

Total Futures Contracts (6,505) (0.01)

Forward Currency Contracts: 0.29% (2019: 0.95%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets J.P. Morgan EUR 27,891,894 USD 33,200,000 12/01/2021 762,833 0.29

Total Fair Value Gains on Forward Currency Contracts 762,833 0.29

Total Forward Currency Contracts 762,833 0.29

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 223,684,574) 221,487,847 83.87

ANIMA Funds Plc 620 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents and Due From Broker 42,327,895 16.03

Other Net Assets 252,934 0.10

Net Assets Attributable to Holders of Redeemable Participating Shares 264,068,676 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 83.46 Financial derivative instruments dealt in on a regulated market 0.03 Over the counter financial derivative instruments 0.29 Other Assets 16.22

100.00

ANIMA Funds Plc 621 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility Europe

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 88.99% (2019: 88.85%)

France: 8.87%

Government Bonds: 8.87% 1,060,000 France Treasury Bill BTF Zero Coupon 04/11/2021 1,065,991 8.87

Total France 1,065,991 8.87

Italy: 67.99%

Government Bonds: 67.99% 1,490,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 1,492,438 12.43 540,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/05/2021 541,221 4.51 1,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 1,454,956 12.11 1,580,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/03/2021 1,590,586 13.24 1,540,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 1,593,900 13.27 1,490,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 1,493,591 12.43

Total Italy 8,166,692 67.99

Spain: 12.13%

Government Bonds: 12.13% 1,450,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 1,456,838 12.13

Total Spain 1,456,838 12.13

Total Bonds 10,689,521 88.99

Futures contracts: 0.44% (2019: 0.07%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 2,875,740 82 Euro STOXX 50 Futures March 2021 35,260 0.30 854,352 9 Swiss Market Index Futures March 2021 31,371 0.26

Total Fair Value Gains on Open Futures Contracts 66,631 0.56

1,233,176 17 FSTE 100 Index Futures March 2021 (13,864) (0.12)

Total Fair Value Losses on Open Futures Contracts (13,864) (0.12)

Total Futures Contracts 52,767 0.44

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 10,665,107) 10,742,288 89.43

Cash and Cash Equivalents and Due From Broker 1,236,631 10.30

Other Net Assets 32,617 0.27

Net Assets Attributable to Holders of Redeemable Participating Shares 12,011,536 100.00

ANIMA Funds Plc 622 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 88.73 Financial derivative instruments dealt in on a regulated market 0.55 Other Assets 10.72

100.00

ANIMA Funds Plc 623 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility Global

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 89.10% (2019: 87.70%)

France: 3.92%

Government Bonds: 3.92% 6,000,000 France Treasury Bill BTF Zero Coupon 01/12/2021 6,036,965 3.92

Total France 6,036,965 3.92

Italy: 75.52%

Government Bonds: 75.52% 5,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 5,000,711 3.25 18,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 18,312,045 11.89 18,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 18,321,171 11.90 17,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 17,228,139 11.19 5,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 5,310,858 3.45 17,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 17,559,820 11.40 8,590,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/03/2021 8,647,553 5.62 8,320,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 8,611,200 5.59 17,250,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 17,291,573 11.23

Total Italy 116,283,070 75.52

Spain: 9.66%

Government Bonds: 9.66% 14,800,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 14,869,793 9.66

Total Spain 14,869,793 9.66

Total Bonds 137,189,828 89.10

Futures contracts: 1.05% (2019: 0.52%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 7,907,320 226 Euro STOXX 50 Futures March 2021 115,680 0.08 6,353,275 30 Nikkei 225 Futures March 2021 163,229 0.11 42,884,844 288 S&P 500 E Mini Futures March 2021 1,234,909 0.80 2,838,436 30 Swiss Market Index Futures March 2021 113,975 0.07

Total Fair Value Gains on Open Futures Contracts 1,627,793 1.06

3,957,210 55 FSTE 100 Index Futures March 2021 (12,379) (0.01)

Total Fair Value Losses on Open Futures Contracts (12,379) (0.01)

Total Futures Contracts 1,615,414 1.05

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 137,015,519) 138,805,242 90.15

ANIMA Funds Plc 624 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility Global (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents and Due From Broker 15,230,577 9.89

Other Net Liabilities (69,780) (0.04)

Net Assets Attributable to Holders of Redeemable Participating Shares 153,966,039 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 88.92 Financial derivative instruments dealt in on a regulated market 1.05 Other Assets 10.03

100.00

ANIMA Funds Plc 625 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility Italy

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 88.51% (2019: 92.94%)

France: 2.89%

Government Bonds: 2.89% 400,000 France Treasury Bill BTF Zero Coupon 05/05/2021 400,901 2.89

Total France 400,901 2.89

Italy: 75.47%

Government Bonds: 75.47% 550,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 550,078 3.97 2,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 2,002,314 14.45 2,070,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 2,074,241 14.97 430,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/05/2021 430,972 3.11 1,750,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 1,755,982 12.67 1,810,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/03/2021 1,822,127 13.15 1,760,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 1,821,600 13.15

Total Italy 10,457,314 75.47

Spain: 10.15%

Government Bonds: 10.15% 1,400,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 1,406,602 10.15

Total Spain 1,406,602 10.15

Total Bonds 12,264,817 88.51

Futures contracts: 0.65% (2019: (0.45%)) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 4,999,050 46 FSTE/MIB Index Futures March 2021 90,620 0.65

Total Fair Value Gains on Open Futures Contracts 90,620 0.65

Total Futures Contracts 90,620 0.65

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 12,238,906) 12,355,437 89.16

Cash and Cash Equivalents and Due From Broker 1,470,092 10.61

Other Net Assets 31,597 0.23

Net Assets Attributable to Holders of Redeemable Participating Shares 13,857,126 100.00

ANIMA Funds Plc 626 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility Italy (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 88.39 Financial derivative instruments dealt in on a regulated market 0.65 Other Assets 10.96

100.00

ANIMA Funds Plc 627 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility USA

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 88.47% (2019: 90.67%)

France: 9.67%

Government Bonds: 9.67% 7,500,000 France Treasury Bill BTF Zero Coupon 04/11/2021 7,542,392 9.67

Total France 7,542,392 9.67

Italy: 67.20%

Government Bonds: 67.20% 3,100,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 3,100,441 3.98 8,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 8,009,255 10.27 8,400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 8,413,742 10.79 8,600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 8,617,618 11.05 8,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 8,478,885 10.88 3,640,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/03/2021 3,664,388 4.70 3,520,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 3,643,200 4.67 8,450,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 8,470,365 10.86

Total Italy 52,397,894 67.20

Spain: 11.60%

Government Bonds: 11.60% 9,000,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 9,042,442 11.60

Total Spain 9,042,442 11.60

Total Bonds 68,982,728 88.47

Futures contracts: 1.18% (2019: 0.81%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 39,216,543 262 S&P 500 E Mini Futures March 2021 920,177 1.18

Total Fair Value Gains on Open Futures Contracts 920,177 1.18

Total Futures Contracts 920,177 1.18

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 68,904,150) 69,902,905 89.65

Cash and Cash Equivalents and Due From Broker 5,810,429 7.45

Other Net Assets 2,257,002 2.90

Net Assets Attributable to Holders of Redeemable Participating Shares 77,970,336 100.00

ANIMA Funds Plc 628 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility USA (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 88.25 Financial derivative instruments dealt in on a regulated market 1.18 Other Assets 10.57

100.00

ANIMA Funds Plc 629 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Volatility Emerging Markets

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 88.51% (2019: 93.39%)

Italy: 78.27%

Government Bonds: 78.27% 9,738,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 9,744,410 9.33 11,398,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 11,411,186 10.92 12,421,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 12,441,321 11.91 12,421,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 12,446,446 11.91 11,600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 11,634,386 11.13 11,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 11,038,481 10.56 1,923,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/03/2021 1,935,884 1.85 1,920,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 1,987,200 1.90 9,134,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 9,156,013 8.76

Total Italy 81,795,327 78.27

Spain: 10.24%

Government Bonds: 10.24% 10,650,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 10,700,223 10.24

Total Spain 10,700,223 10.24

Total Bonds 92,495,550 88.51

Futures contracts: 1.00% (2019:0.87%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 63,786,200 1,358 MSCI Emerging Net Return Index March 2021 1,044,720 1.00

Total Fair Value Gains on Open Futures Contracts 1,044,720 1.00

Total Futures Contracts 1,044,720 1.00

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 92,425,366) 93,540,270 89.51

Cash and Cash Equivalents and Due From Broker 13,130,463 12.57

Other Net Liabilities (2,172,262) (2.08)

Net Assets Attributable to Holders of Redeemable Participating Shares 104,498,471 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 86.46 Financial derivative instruments dealt in on a regulated market 0.98 Other Assets 12.56

100.00

ANIMA Funds Plc 630 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Credit Opportunities

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 85.98% (2019: 81.57%)

Australia: 1.01%

Corporate Bonds: 1.01% 1,500,000 Scentre Group Trust 2 FRN 24/09/2080 1,277,907 0.34 500,000 Scentre Group Trust 2 FRN 24/09/2080 430,756 0.12 2,000,000 Vicinity Centres Trust 1.13% 07/11/2029 2,066,856 0.55

Total Australia 3,775,519 1.01

Austria: 1.12%

Corporate Bonds: 1.12% 1,000,000 Erste Group Bank AG FRN 08/09/2031 1,042,428 0.28 1,000,000 Erste Group Bank AG FRN 31/12/2099 1,071,250 0.29 1,500,000 OMV AG FRN 31/12/2099 1,558,170 0.42 500,000 Sappi Papier Holding GmbH 3.13% 15/04/2026 485,000 0.13

Total Austria 4,156,848 1.12

Belgium: 0.56%

Corporate Bonds: 0.56% 1,000,000 Elia Group SA FRN 31/12/2049 1,048,750 0.28 1,000,000 Solvay SA FRN 31/12/2099 1,025,000 0.28

Total Belgium 2,073,750 0.56

Brazil: 0.29%

Corporate Bonds: 0.29% 1,000,000 Vale SA 3.75% 10/01/2023 1,063,218 0.29

Total Brazil 1,063,218 0.29

British Virgin Islands: 0.55%

Corporate Bonds: 0.55% 2,000,000 State Grid Overseas Investment 2016 Ltd 0.80% 05/08/2026 2,039,496 0.55

Total British Virgin Islands 2,039,496 0.55

France: 9.16%

Corporate Bonds: 9.16% 2,000,000 AXA SA FRN 29/08/2049 1,356,708 0.36 3,000,000 BNP Paribas SA FRN 29/09/2049 2,031,066 0.55 2,000,000 BNP Paribas SA FRN 29/12/2049 2,120,000 0.57 2,000,000 Credit Agricole SA FRN 29/04/2049 2,043,500 0.55 1,700,000 Electricite de France SA FRN 22/07/2049 2,201,693 0.59 1,000,000 Electricite de France SA FRN 31/12/2099 1,050,000 0.28

ANIMA Funds Plc 631 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Credit Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 85.98% (2019: 81.57%)

France (continued): 9.16%

Corporate Bonds (continued): 9.16% 1,000,000 Electricite de France SA FRN 31/12/2099 1,088,500 0.29 500,000 Elis SA 1.88% 15/02/2023 508,940 0.14 1,000,000 Elis SA 1.75% 11/04/2024 1,012,500 0.27 2,300,000 Faurecia SE 3.75% 05/06/2028 2,412,125 0.65 1,000,000 La Banque Postale SA FRN 31/12/2099 1,020,000 0.27 1,000,000 Orange SA FRN 29/10/2049 1,210,000 0.33 1,500,000 Orano SA 4.88% 23/09/2024 1,719,480 0.46 1,500,000 Peugeot SA 2.00% 23/03/2024 1,581,653 0.43 700,000 RCI Banque SA FRN 12/03/2025 680,512 0.18 1,000,000 Renault SA 1.25% 24/06/2025 976,250 0.26 1,000,000 Renault SA 2.38% 25/05/2026 1,011,250 0.27 2,000,000 Societe Generale SA FRN 29/11/2049 1,439,794 0.39 2,000,000 Total SA FRN 29/12/2049 2,090,000 0.56 3,000,000 Unibail-Rodamco-Westfield SE 1.38% 04/12/2031 3,019,950 0.81 600,000 Unibail-Rodamco-Westfield SE FRN 31/12/2099 562,500 0.15 1,000,000 Unibail-Rodamco-Westfield SE FRN 31/12/2099 948,750 0.26 2,000,000 Veolia Environnement SA FRN 31/12/2099 2,020,000 0.54

Total France 34,105,171 9.16

Germany: 10.00%

Corporate Bonds: 5.38% 1,000,000 ADLER Real Estate AG 1.50% 06/12/2021 1,000,000 0.27 1,500,000 ADLER Real Estate AG 1.50% 17/04/2022 1,494,930 0.40 1,500,000 ADLER Real Estate AG 2.13% 06/02/2024 1,515,000 0.41 3,000,000 Allianz SE FRN 31/12/2099 3,084,600 0.83 1,000,000 Bayer AG FRN 12/11/2079 1,048,750 0.28 1,800,000 Bilfinger SE 5.75% 14/06/2024 1,879,272 0.50 1,000,000 Commerzbank AG FRN 05/12/2030 1,091,832 0.29 500,000 Deutsche Wohnen SE 1.00% 30/04/2025 522,405 0.14 2,500,000 IHO Verwaltungs GmbH 3.88% 15/05/2027 2,593,430 0.70 1,000,000 Kaefer Isoliertechnik GmbH & Co KG 5.50% 10/01/2024 1,000,000 0.27 1,200,000 Schaeffler AG 1.88% 26/03/2024 1,236,266 0.33 2,500,000 Schaeffler AG 2.75% 02/10/2025 2,643,830 0.71 900,000 ZF Finance GmbH 2.75% 25/05/2027 914,625 0.25

Government Bonds: 4.62% 17,000,000 Bundesobligation Zero Coupon 07/10/2022 17,210,800 4.62

Total Germany 37,235,740 10.00

Hong Kong: 0.16%

Corporate Bonds: 0.16% 600,000 CNRC Capital Ltd 1.87% 07/12/2021 602,262 0.16

Total Hong Kong 602,262 0.16

ANIMA Funds Plc 632 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Credit Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 85.98% (2019: 81.57%)

Ireland: 0.18%

Corporate Bonds: 0.18% 600,000 Russian Railways Via RZD Capital Plc 4.60% 06/03/2023 654,012 0.18

Total Ireland 654,012 0.18

Isle of Man: 0.55%

Corporate Bonds: 0.55% 2,000,000 Playtech Plc 4.25% 07/03/2026 2,064,600 0.55

Total Isle of Man 2,064,600 0.55

Italy: 27.99%

Corporate Bonds: 21.73% 1,000,000 Assicurazioni Generali SpA FRN 27/10/2047 1,230,250 0.33 2,000,000 Autostrade per l’Italia SpA 2.00% 04/12/2028 2,005,000 0.54 1,500,000 Banca Farmafactoring SpA 1.75% 23/05/2023 1,526,574 0.41 2,000,000 Banca IFIS SpA 2.00% 24/04/2023 1,995,835 0.54 2,500,000 Banca IFIS SpA 1.75% 25/06/2024 2,430,000 0.65 2,000,000 Banca Popolare di Sondrio SCPA 2.38% 03/04/2024 2,070,320 0.56 3,500,000 Banca Popolare di Sondrio SCPA FRN 30/07/2029 3,570,070 0.96 2,000,000 Banco BPM SpA 1.75% 24/04/2023 2,052,600 0.55 2,000,000 Banco BPM SpA 2.50% 21/06/2024 2,107,060 0.57 1,500,000 CDP Reti SpA 1.88% 29/05/2022 1,527,690 0.41 1,500,000 Credito Emiliano SpA FRN 10/07/2027 1,516,500 0.41 1,800,000 doValue SpA 5.00% 04/08/2025 1,875,600 0.50 3,000,000 Enel SpA FRN 24/09/2073 2,863,308 0.77 1,500,000 Enel SpA FRN 10/01/2074 1,687,125 0.45 832,000 Enel SpA FRN 24/05/2080 907,920 0.24 2,000,000 Enel SpA FRN 31/12/2099 2,082,100 0.56 4,700,000 Eni SpA FRN 31/12/2099 5,040,750 1.35 3,000,000 FCA Bank SpA 0.50% 13/09/2024 3,029,820 0.81 2,000,000 FinecoBank Banca Fineco SpA FRN 31/12/2099 2,120,000 0.57 1,500,000 Immobiliare Grande Distribuzione SIIQ SpA 2.13% 28/11/2024 1,406,685 0.38 957,333 Inter Media and Communication SpA 4.88% 31/12/2022 950,058 0.25 1,100,000 Intesa Sanpaolo SpA 6.50% 24/02/2021 906,179 0.24 1,000,000 Intesa Sanpaolo SpA 6.63% 13/09/2023 1,139,696 0.31 2,000,000 Intesa Sanpaolo SpA 3.25% 23/09/2024 1,746,322 0.47 1,000,000 Intesa Sanpaolo SpA FRN 31/12/2099 946,750 0.25 1,500,000 Intesa Sanpaolo SpA FRN 31/12/2099 1,631,250 0.44 3,000,000 Intesa Sanpaolo Vita SpA FRN 31/12/2049 3,273,000 0.88 1,000,000 Mediobanca Banca di Credito Finanziario SpA FRN 25/01/2024 1,014,800 0.27 2,000,000 Poste Italiane SpA 0.50% 10/12/2028 2,008,992 0.54 2,000,000 RAI-Radiotelevisione Italiana SpA 1.38% 04/12/2024 2,056,200 0.55 1,500,000 Sisal Pay SpA FRN 17/12/2026 1,495,500 0.40 1,600,000 Telecom Italia SpA 3.25% 16/01/2023 1,685,824 0.45 2,500,000 Telecom Italia SpA 4.00% 11/04/2024 2,700,850 0.73 3,000,000 UniCredit SpA 6.95% 31/10/2022 3,337,248 0.90 1,000,000 UniCredit SpA FRN 23/09/2029 988,180 0.27

ANIMA Funds Plc 633 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Credit Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 85.98% (2019: 81.57%)

Italy (continued): 27.99%

Corporate Bonds (continued): 21.73% 1,000,000 UniCredit SpA FRN 15/01/2032 1,010,018 0.27 1,500,000 Unione di Banche Italiane SpA 2.63% 20/06/2024 1,602,222 0.43 1,000,000 Unione di Banche Italiane SpA FRN 15/09/2027 1,050,000 0.28 2,000,000 Unione di Banche Italiane SpA FRN 04/03/2029 2,234,156 0.60 600,000 Unipol Gruppo SpA 3.50% 29/11/2027 645,761 0.17 800,000 Unipol Gruppo SpA 3.25% 23/09/2030 846,611 0.23 1,000,000 UnipolSai Assicurazioni SpA FRN 28/07/2023 997,820 0.27 1,800,000 UnipolSai Assicurazioni SpA FRN 31/12/2049 1,941,300 0.52 800,000 Webuild SpA 1.75% 06/10/2024 736,416 0.20 1,000,000 Webuild SpA 3.63% 28/01/2027 930,000 0.25

Government Bonds: 6.26% 2,000,000 Cassa Depositi e Prestiti SpA 1.50% 20/04/2023 2,076,428 0.56 6,000,000 Italy Buoni Poliennali Del Tesoro 2.30% 15/10/2021 6,134,453 1.65 15,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 15,074,095 4.05

Total Italy 104,205,336 27.99

Japan: 1.27%

Corporate Bonds: 1.27% 2,000,000 Nissan Motor Co Ltd 3.20% 17/09/2028 2,168,040 0.58 2,500,000 SoftBank Group Corp 3.13% 19/09/2025 2,561,500 0.69

Total Japan 4,729,540 1.27

Jersey, Channel Islands: 0.52%

Corporate Bonds: 0.52% 1,400,000 HSBC Capital Funding Dollar 1 LP FRN 29/12/2049 1,953,741 0.52

Total Jersey, Channel Islands 1,953,741 0.52

Lithuania: 0.28%

Corporate Bonds: 0.28% 1,000,000 Maxima Grupe UAB 3.25% 13/09/2023 1,045,000 0.28

Total Lithuania 1,045,000 0.28

Luxembourg: 2.39%

Corporate Bonds: 2.39% 3,000,000 CK Hutchison Group Telecom Finance SA 0.38% 17/10/2023 3,026,502 0.81 1,500,000 ContourGlobal Power Holdings SA 3.38% 01/08/2023 1,522,500 0.41 2,000,000 CPI Property Group SA FRN 31/12/2099 2,089,800 0.56 400,000 Sberbank of Russia Via SB Capital SA 5.72% 16/06/2021 334,111 0.09 500,000 SES SA FRN 29/12/2049 548,564 0.15

ANIMA Funds Plc 634 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Credit Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 85.98% (2019: 81.57%)

Luxembourg (continued): 2.39%

Corporate Bonds (continued): 2.39% 1,500,000 Vivion Investments Sarl 3.00% 08/08/2024 1,381,500 0.37

Total Luxembourg 8,902,977 2.39

Mexico: 0.94%

Corporate Bonds: 0.94% 1,000,000 Petroleos Mexicanos 1.88% 21/04/2022 990,000 0.26 1,500,000 Petroleos Mexicanos 3.75% 01/02/2024 1,518,360 0.41 1,000,000 Petroleos Mexicanos 4.75% 26/02/2029 1,006,350 0.27

Total Mexico 3,514,710 0.94

Netherlands: 7.28%

Corporate Bonds: 7.28% 1,000,000 Aegon NV FRN 29/07/2049 789,750 0.21 1,000,000 Fiat Chrysler Automobiles NV 3.38% 07/07/2023 1,064,568 0.29 1,000,000 Fiat Chrysler Automobiles NV 3.75% 29/03/2024 1,096,126 0.29 3,500,000 Fiat Chrysler Automobiles NV 4.50% 07/07/2028 4,270,000 1.15 1,000,000 Iberdrola International BV FRN 31/12/2099 1,093,986 0.29 2,500,000 JT International Financial Services BV FRN 07/04/2081 2,659,400 0.71 1,000,000 JT International Financial Services BV FRN 07/10/2083 1,105,000 0.30 1,000,000 Naturgy Finance BV FRN 29/11/2049 1,053,750 0.28 1,350,000 NIBC Bank NV FRN 29/03/2049 1,159,880 0.31 1,000,000 NN Group NV FRN 29/06/2049 1,106,250 0.30 1,000,000 Repsol International Finance BV FRN 31/12/2099 1,108,750 0.30 1,000,000 Saipem Finance International BV 3.75% 08/09/2023 1,060,000 0.28 700,000 Telefonica Europe BV FRN 31/03/2049 786,625 0.21 1,000,000 Telefonica Europe BV FRN 31/12/2099 1,022,204 0.27 2,000,000 Teva Pharmaceutical Finance Netherlands II BV 1.13% 15/10/2024 1,853,560 0.50 1,000,000 Teva Pharmaceutical Finance Netherlands II BV 6.00% 31/01/2025 1,085,000 0.29 1,500,000 Volkswagen International Finance NV FRN 29/12/2049 1,582,875 0.43 3,000,000 Volkswagen International Finance NV FRN 31/12/2099 3,220,800 0.87

Total Netherlands 27,118,524 7.28

Portugal: 0.29%

Corporate Bonds: 0.29% 1,000,000 EDP - Energias de Portugal SA FRN 30/04/2079 1,097,000 0.29

Total Portugal 1,097,000 0.29

ANIMA Funds Plc 635 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Credit Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 85.98% (2019: 81.57%)

Romania: 0.54%

Corporate Bonds: 0.54% 2,000,000 UniCredit Leasing Corp IFN SA 0.50% 18/10/2022 2,007,644 0.54

Total Romania 2,007,644 0.54

Spain: 8.16%

Corporate Bonds: 8.16% 1,000,000 Abertis Infraestructuras SA 1.13% 26/03/2028 1,015,950 0.27 4,000,000 Banco Bilbao Vizcaya Argentaria SA FRN % 31/12/2099 4,138,284 1.11 1,000,000 Banco Bilbao Vizcaya Argentaria SA FRN 31/12/2099 1,071,250 0.29 1,000,000 Banco Bilbao Vizcaya Argentaria SA FRN 31/12/2099 860,856 0.23 2,300,000 Banco de Sabadell SA 1.75% 10/05/2024 2,378,540 0.64 1,000,000 Banco de Sabadell SA 5.63% 06/05/2026 1,166,940 0.32 2,000,000 Banco de Sabadell SA FRN 29/06/2023 2,049,560 0.55 3,000,000 Banco de Sabadell SA FRN 11/03/2027 3,098,724 0.83 2,000,000 Banco de Sabadell SA FRN 12/12/2028 2,178,608 0.59 2,000,000 Banco de Sabadell SA FRN 17/01/2030 1,939,432 0.52 2,000,000 Banco Santander SA FRN 09/11/2049 2,042,844 0.55 2,000,000 Banco Santander SA FRN 31/12/2099 2,085,000 0.56 2,000,000 CaixaBank SA FRN 31/12/2099 2,207,500 0.59 1,000,000 Criteria Caixa SA 1.38% 10/04/2024 1,041,600 0.28 1,000,000 El Corte Ingles SA 3.00% 15/03/2024 1,008,784 0.27 2,000,000 El Corte Ingles SA 3.63% 15/03/2024 2,081,080 0.56

Total Spain 30,364,952 8.16

Sweden: 2.53%

Corporate Bonds: 2.53% 2,000,000 Intrum AB 4.88% 15/08/2025 2,065,000 0.55 3,000,000 Intrum AB 3.50% 15/07/2026 2,970,000 0.80 1,200,000 Telia Co AB FRN 04/04/2078 1,260,259 0.34 1,500,000 Volvo Car AB 2.13% 02/04/2024 1,545,492 0.41 1,500,000 Volvo Car AB 2.50% 07/10/2027 1,585,950 0.43

Total Sweden 9,426,701 2.53

Turkey: 0.14%

Corporate Bonds: 0.14% 500,000 Arcelik AS 3.88% 16/09/2021 507,500 0.14

Total Turkey 507,500 0.14

United Kingdom: 5.48%

Corporate Bonds: 5.48% 1,000,000 Barclays Bank Plc 10.00% 21/05/2021 1,153,442 0.31

ANIMA Funds Plc 636 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Credit Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 85.98% (2019: 81.57%)

United Kingdom (continued): 5.48%

Corporate Bonds (continued): 5.48% 3,000,000 BP Capital Markets Plc FRN 31/12/2099 3,195,000 0.86 1,500,000 BP Capital Markets Plc FRN 31/12/2099 1,638,750 0.44 1,500,000 International Game Technology Plc 4.75% 15/02/2023 1,567,500 0.42 1,000,000 International Game Technology Plc 2.38% 15/04/2028 992,074 0.27 2,000,000 NatWest Markets Plc 2.75% 02/04/2025 2,219,720 0.60 2,000,000 NatWest Markets Plc FRN 18/06/2021 2,005,000 0.54 2,000,000 Rolls-Royce Plc 0.88% 09/05/2024 1,880,000 0.50 1,000,000 Rolls-Royce Plc 4.63% 16/02/2026 1,080,000 0.29 1,000,000 SSE Plc FRN 31/12/2099 1,062,032 0.28 1,000,000 Standard Chartered Plc 3.63% 23/11/2022 1,062,346 0.28 1,500,000 Victoria Plc 5.25% 15/07/2024 1,550,250 0.42 1,000,000 Vodafone Group Plc FRN 04/04/2079 1,017,102 0.27

Total United Kingdom 20,423,216 5.48

United States: 4.59%

Corporate Bonds: 4.59% 2,200,000 AT&T Inc FRN 31/12/2099 2,209,900 0.59 2,000,000 Avantor Funding Inc 2.63% 01/11/2025 2,045,000 0.55 1,000,000 Avantor Funding Inc 3.88% 15/07/2028 1,050,000 0.28 2,000,000 Ford Motor Credit Co LLC 3.02% 06/03/2024 2,067,500 0.56 1,000,000 Ford Motor Credit Co LLC 3.25% 15/09/2025 1,049,303 0.28 1,500,000 General Electric Co 0.38% 17/05/2022 1,508,436 0.41 2,500,000 General Motors Financial Co Inc 2.20% 01/04/2024 2,644,660 0.71 700,000 Goldman Sachs Group Inc 4.75% 12/10/2021 724,101 0.20 1,000,000 Jefferies Group LLC 1.00% 19/07/2024 1,016,334 0.27 1,200,000 UGI International LLC 3.25% 01/11/2025 1,232,760 0.33 1,500,000 ZF North America Capital Inc 2.75% 27/04/2023 1,535,175 0.41

Total United States 17,083,169 4.59

Total Bonds 320,150,626 85.98

Forward Currency Contracts: 0.11% (2019: (0.06%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Credit EUR 1,192,751 USD 1,400,000 12/01/2021 48,755 0.01 Agricole Morgan EUR 11,079,035 USD 13,300,000 12/01/2021 211,068 0.06 Stanley Unicredit EUR 7,710,471 GBP 6,900,000 12/01/2021 2,679 0.00 Bank Unicredit EUR 3,054,134 USD 3,600,000 12/01/2021 112,428 0.03 Bank

ANIMA Funds Plc 637 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Credit Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts (continued): 0.11% (2019: (0.06%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Unicredit GBP 1,500,000 EUR 1,621,848 12/01/2021 53,759 0.02 Bank

Total Fair Value Gains on Forward Currency Contracts 428,689 0.12

Unicredit EUR 1,869,550 GBP 1,700,000 12/01/2021 (29,471) (0.01) Bank

Total Fair Value Losses on Forward Currency Contracts (29,471) (0.01)

Total Forward Currency Contracts 399,218 0.11

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 314,211,163) 320,549,844 86.09

Cash and Cash Equivalents 48,629,345 13.06

Other Net Assets 3,147,085 0.85

Net Assets Attributable to Holders of Redeemable Participating Shares 372,326,274 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 85.93 Over the counter financial derivative instruments 0.12 Other Assets 13.95

100.00

ANIMA Funds Plc 638 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Italy

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 40.92% (2019: 35.98%)

France: 1.33%

Commercial Services & Supplies: 1.33% 3,000 Worldline SA 237,300 1.33

Total France 237,300 1.33

Italy: 33.56%

Banks: 6.37% 12,000 Banca Generali SpA 326,880 1.83 40,000 Banca Mediolanum SpA 284,000 1.59 70,000 Mediobanca Banca di Credito Finanziario SpA 527,800 2.95

Beverages: 0.71% 52,505 Masi Agricola SpA 127,587 0.71

Building Products: 4.04% 55,000 Buzzi Unicem SpA Pref 721,600 4.04

Commercial Services & Supplies: 1.62% 3,320 ASTM SpA 68,392 0.38 13,500 Nexi SpA 220,590 1.24

Computers & Peripherals: 0.05% 2,500 Doxee SpA 8,750 0.05

Construction & Engineering: 1.95% 35,000 Infrastrutture Wireless Italiane SpA 347,550 1.95

Diversified Financial Services: 0.11% 4,000 Banca Farmafactoring SpA 19,760 0.11

Electric: 9.28% 240,000 A2A SpA 313,080 1.75 105,000 Enel SpA 868,980 4.86 150,000 Iren SpA 318,900 1.79 25,000 Terna Rete Elettrica Nazionale SpA 156,250 0.88

Energy Sources: 1.96% 15,000 ERG SpA 351,000 1.96

Gas: 1.03% 40,000 Snam SpA 184,040 1.03

Holding Companies - Diversified Operations: 0.25% 3,610 SICIT Group SpA 44,583 0.25

Insurance: 3.49% 30,000 Assicurazioni Generali SpA 427,800 2.40 50,000 Unipol Gruppo SpA 195,500 1.09

ANIMA Funds Plc 639 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Italy (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 40.92% (2019: 35.98%)

Italy (continued): 33.56%

Machinery Construction & Mining: 0.99% 18,436 Danieli & C Officine Meccaniche SpA Pref 176,986 0.99

Metal Fabricate/Hardware: 0.06% 500 SAES Getters SpA 11,525 0.06

Telecommunications: 0.95% 400,000 Telecom Italia SpA Pref 169,520 0.95

Transportation: 0.70% 15,000 Poste Italiane SpA 124,800 0.70

Total Italy 5,995,873 33.56

Luxembourg: 0.93%

Metal Fabricate/Hardware: 0.93% 25,000 Tenaris SA 165,600 0.93

Total Luxembourg 165,600 0.93

Netherlands: 3.95%

Investment Companies: 3.34% 9,000 EXOR NV 595,980 3.34

Semiconductors: 0.61% 3,600 STMicroelectronics NV 109,980 0.61

Total Netherlands 705,960 3.95

Portugal: 1.15%

Electric: 1.15% 40,000 EDP - Energias de Portugal SA 206,240 1.15

Total Portugal 206,240 1.15

Total Equities 7,310,973 40.92

Warrants: 0.02% (2019: 0.07%)

Italy: 0.02%

Software: 0.01% 11,000 Doxee SpA 1,617 0.01

ANIMA Funds Plc 640 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Italy (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Warrants (continued): 0.02% (2019: 0.07%)

Italy (continued): 0.02%

Textiles: 0.01% 15,525 Aquafil SpA 2,639 0.01

Total Italy 4,256 0.02

Warrants 4,256 0.02

Bonds: 43.69% (2019: 51.03%)

Italy: 38.40%

Corporate Bonds: 2.79% 100,000 Banca Farmafactoring SpA 2.00% 29/06/2022 100,875 0.56 365,000 Enel SpA FRN 24/05/2080 398,306 2.23

Government Bonds: 35.61% 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 500,818 2.80 1,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 1,503,073 8.41 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/11/2021 1,305,621 7.31 1,000,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 1,025,599 5.74 1,000,000 Italy Buoni Poliennali Del Tesoro 1.20% 01/04/2022 1,020,896 5.72 1,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 1,004,940 5.63

Total Italy 6,860,128 38.40

Luxembourg: 5.29%

Corporate Bonds: 5.29% 700,000 Fiat Chrysler Finance Europe SENC 4.75% 15/07/2022 746,375 4.18 200,000 Rossini Sarl FRN 30/10/2025 199,000 1.11

Total Luxembourg 945,375 5.29

Total Bonds 7,805,503 43.69

Investment Funds: 4.94% (2019:4.03%)

Italy: 4.94% 105,946 ANIMA Iniziativa Italia PMI** 882,319 4.94

Total Italy 882,319 4.94

Total Investment Funds 882,319 4.94

ANIMA Funds Plc 641 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Star High Potential Italy (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Futures contracts: 0.26% (2019: 0.06%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 1,724,560 16 FSTE/MIB Index Futures March 2021 45,760 0.26

Total Fair Value Gains on Open Futures Contracts 45,760 0.26

Total Futures Contracts 45,760 0.26

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 15,565,513) 16,048,811 89.83

Cash and Cash Equivalents and Due From Broker 1,824,979 10.22

Other Net Liabilities (8,519) (0.05)

Net Assets Attributable to Holders of Redeemable Participating Shares 17,865,271 100.00

** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 84.35 UCITS and non-UCITS Investment Funds 4.92 Financial derivative instruments dealt in on a regulated market 0.26 Other Assets 10.47

100.00

ANIMA Funds Plc 642 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Trading Fund

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 58.48% (2019: 43.71%)

Canada: 0.41%

Mining: 0.41% 27,000 First Quantum Minerals Ltd 395,785 0.41

Total Canada 395,785 0.41

Cayman Islands: 1.26%

Internet: 1.26% 2,527 Alibaba Group Holding Ltd ADR 480,658 0.49 12,700 Tencent Holdings Ltd 754,994 0.77

Total Cayman Islands 1,235,652 1.26

China: 0.42%

Insurance: 0.42% 40,500 Ping An Insurance Group Co of China Ltd 405,546 0.42

Total China 405,546 0.42

France: 4.76%

Banks: 0.75% 17,120 BNP Paribas SA 737,958 0.75

Commercial Services & Supplies: 0.87% 10,754 Worldline SA 850,641 0.87

Cosmetics & Personal Care: 0.46% 1,441 L’Oreal SA 447,863 0.46

Electical Components & Equipment: 0.51% 4,230 Schneider Electric SE 500,409 0.51

Electric: 0.44% 34,100 Engie SA 426,932 0.44

Healthcare Products: 0.57% 4,370 EssilorLuxottica SA 557,393 0.57

Oil & Gas: 0.72% 20,000 Total SA 706,000 0.72

Telecommunications: 0.44% 44,080 Orange SA 429,075 0.44

Total France 4,656,271 4.76

ANIMA Funds Plc 643 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Trading Fund (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 58.48% (2019: 43.71%)

Germany: 3.74%

Automobile Manufacturers: 0.64% 10,860 Daimler AG 627,599 0.64

Electric: 0.63% 17,700 RWE AG 611,889 0.63

Machinery Construction & Mining: 0.64% 21,000 Siemens Energy AG 630,000 0.64

Miscellaneous Manufacturers: 0.48% 3,950 Siemens AG 464,204 0.48

Pharmaceuticals: 0.54% 3,790 Merck KGaA 531,927 0.54

Transportation: 0.81% 19,500 Deutsche Post AG 789,750 0.81

Total Germany 3,655,369 3.74

Guernsey: 0.65%

Computers & Peripherals: 0.65% 10,980 Amdocs Ltd 636,518 0.65

Total Guernsey 636,518 0.65

Ireland: 1.70%

Chemicals: 0.57% 2,620 Linde Plc 558,060 0.57

Healthcare Products: 1.13% 11,500 Medtronic Plc 1,100,985 1.13

Total Ireland 1,659,045 1.70

Italy: 0.84%

Electric: 0.84% 99,400 Enel SpA 822,634 0.84

Total Italy 822,634 0.84

Japan: 3.79%

Beverages: 0.43% 12,400 Asahi Group Holdings Ltd 416,588 0.43

ANIMA Funds Plc 644 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Trading Fund (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 58.48% (2019: 43.71%)

Japan (continued): 3.79%

Electronics: 0.88% 7,000 TDK Corp 861,109 0.88

Home Furnishings: 0.74% 8,930 Sony Corp 727,051 0.74

Machinery - Diversified: 0.35% 8,500 Yaskawa Electric Corp 345,180 0.35

Machinery Construction & Mining: 0.91% 27,800 Hitachi Ltd 894,571 0.91

Semiconductors: 0.48% 7,600 Advantest Corp 465,053 0.48

Total Japan 3,709,552 3.79

Korea: 0.93%

Semiconductors: 0.93% 14,983 Samsung Electronics Co Ltd 913,087 0.93

Total Korea 913,087 0.93

Portugal: 0.67%

Electric: 0.67% 126,496 EDP - Energias de Portugal SA 652,213 0.67

Total Portugal 652,213 0.67

Switzerland: 1.79%

Building Products: 0.78% 16,923 LafargeHolcim Ltd 760,752 0.78

Food: 0.33% 3,400 Nestle SA 327,753 0.33

Pharmaceuticals: 0.68% 2,320 Roche Holding AG 662,822 0.68

Total Switzerland 1,751,327 1.79

United Kingdom: 2.13%

Insurance: 0.59% 160,000 Aviva Plc 581,301 0.59

ANIMA Funds Plc 645 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Trading Fund (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 58.48% (2019: 43.71%)

United Kingdom (continued): 2.13%

Mining: 0.63% 22,600 Anglo American Plc 612,155 0.63

Pharmaceuticals: 0.48% 5,700 AstraZeneca Plc 466,395 0.48

Telecommunications: 0.43% 315,000 Vodafone Group Plc 425,610 0.43

Total United Kingdom 2,085,461 2.13

United States: 35.39%

Apparel Retail: 0.49% 5,641 Ralph Lauren Corp 478,278 0.49

Banks: 3.65% 48,189 Bank of America Corp 1,193,747 1.22 11,960 JPMorgan Chase & Co 1,242,088 1.27 20,200 Morgan Stanley 1,131,385 1.16

Beverages: 0.75% 16,450 Coca-Cola Co 737,296 0.75

Biotechnology: 1.49% 6,169 Global Blood Therapeutics Inc 218,364 0.22 7,216 Ionis Pharmaceuticals Inc 333,450 0.34 4,695 Vertex Pharmaceuticals Inc 906,883 0.93

Commercial Services & Supplies: 1.92% 5,430 PayPal Holdings Inc 1,039,357 1.06 14,190 Quanta Services Inc 835,245 0.86

Computers & Peripherals: 1.91% 12,400 Apple Inc 1,344,740 1.38 11,500 Western Digital Corp 520,604 0.53

Diversified Financial Services: 0.92% 9,519 Intercontinental Exchange Inc 896,936 0.92

Electric: 0.98% 15,210 NextEra Energy Inc 959,055 0.98

Electronics: 1.55% 14,400 Fortive Corp 833,483 0.85 25,120 Vontier Corp 685,716 0.70

Food: 0.88% 18,069 Mondelez International Inc 863,466 0.88

ANIMA Funds Plc 646 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Trading Fund (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 58.48% (2019: 43.71%)

United States (continued): 35.39%

Health Care Providers & Services: 0.74% 4,400 Teladoc Health Inc 719,075 0.74

Healthcare Products: 0.41% 17,628 Avantor Inc 405,564 0.41

Healthcare Services: 1.31% 16,600 Centene Corp 814,432 0.83 1,400 Humana Inc 469,435 0.48

Home Builders: 0.71% 12,280 DR Horton Inc 691,707 0.71

Insurance: 0.58% 14,750 MetLife Inc 565,986 0.58

Internet: 3.79% 1,340 Alphabet Inc 1,919,446 1.96 435 Amazon.com Inc 1,157,913 1.19 2,820 Facebook Inc 629,571 0.64

Machinery - Diversified: 0.44% 5,112 Xylem Inc 425,279 0.44

Media: 0.56% 3,701 Walt Disney Co 548,034 0.56

Miscellaneous Manufacturers: 0.84% 3,690 Parker-Hannifin Corp 821,538 0.84

Oil & Gas: 0.53% 8,990 Phillips 66 513,882 0.53

Pharmaceuticals: 1.49% 18,350 Bristol-Myers Squibb Co 930,285 0.95 3,790 Eli Lilly and Co 522,990 0.54

Semiconductors: 2.09% 6,200 Advanced Micro Devices Inc 464,715 0.47 18,774 Micron Technology Inc 1,153,553 1.18 1,000 NVIDIA Corp 426,791 0.44

Software: 4.57% 2,500 Alteryx Inc 248,846 0.25 4,900 Fiserv Inc 455,980 0.47 7,850 Microsoft Corp 1,426,993 1.46 980 Snowflake Inc 225,387 0.23 3,419 Splunk Inc 474,728 0.48 4,583 Synopsys Inc 971,024 0.99 2,423 Twilio Inc 670,333 0.69

ANIMA Funds Plc 647 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Trading Fund (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 58.48% (2019: 43.71%)

United States (continued): 35.39%

Toys, Games & Hobbies: 0.70% 8,999 Hasbro Inc 687,971 0.70

Transportation: 2.09% 2,150 FedEx Corp 456,200 0.47 4,740 Union Pacific Corp 806,639 0.82 8,000 XPO Logistics Inc 779,371 0.80

Total United States 34,603,761 35.39

Total Equities 57,182,221 58.48

Bonds: 17.95% (2019: 35.02%)

Belgium: 1.22%

Government Bonds: 1.22% 1,150,000 Belgium Government Bond 4.25% 28/09/2021 1,191,628 1.22

Total Belgium 1,191,628 1.22

Italy: 14.91%

Government Bonds: 14.91% 2,800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 2,800,398 2.86 350,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/01/2021 350,143 0.36 400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2021 400,567 0.41 4,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/04/2021 4,007,297 4.10 1,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 1,455,073 1.49 5,550,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 5,563,376 5.69

Total Italy 14,576,854 14.91

Russia: 0.36%

Government Bonds: 0.36% 200,000 Russian Foreign Bond - Eurobond 4.50% 04/04/2022 170,610 0.18 200,000 Russian Foreign Bond - Eurobond 4.88% 16/09/2023 179,566 0.18

Total Russia 350,176 0.36

ANIMA Funds Plc 648 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Trading Fund (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 17.95% (2019: 35.02%)

United States: 1.46%

Government Bonds: 1.46% 1,750,000 United States Treasury Note/Bond 1.13% 28/02/2021 1,432,381 1.46

Total United States 1,432,381 1.46

Total Bonds 17,551,039 17.95

Forward Currency Contracts: 1.03% (2019: 0.14%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Goldman EUR 1,514,027 GBP 1,350,000 22/01/2021 6,229 0.01 Sachs Goldman EUR 430,057 HKD 4,000,000 22/01/2021 8,588 0.01 Sachs Goldman EUR 1,193,969 INR 105,000,000 15/01/2021 21,218 0.02 Sachs Goldman EUR 56,088 JPY 7,000,000 22/01/2021 688 0.00 Sachs Goldman EUR 3,882,778 USD 4,600,000 22/01/2021 124,816 0.13 Sachs J.P. Morgan EUR 96,653 CAD 150,000 22/01/2021 459 0.00 J.P. Morgan EUR 201,058 JPY 25,000,000 22/01/2021 3,198 0.00 J.P. Morgan EUR 4,541,046 USD 5,350,000 22/01/2021 170,370 0.18 J.P. Morgan GBP 2,400,000 EUR 2,641,862 22/01/2021 38,668 0.04 Morgan EUR 97,389 CAD 150,000 22/01/2021 1,194 0.00 Stanley Morgan EUR 651,132 CHF 700,000 22/01/2021 3,839 0.00 Stanley Morgan EUR 2,013,631 GBP 1,800,000 22/01/2021 3,234 0.00 Stanley Morgan EUR 983,516 HKD 9,100,000 22/01/2021 24,674 0.02 Stanley Morgan EUR 2,375,587 JPY 296,900,000 22/01/2021 25,802 0.02 Stanley Morgan EUR 38,746,134 USD 46,350,000 22/01/2021 880,570 0.92 Stanley Morgan GBP 350,000 EUR 386,193 22/01/2021 4,718 0.00 Stanley

Total Fair Value Gains on Forward Currency Contracts 1,318,265 1.35

Goldman EUR 1,221,997 GBP 1,100,000 22/01/2021 (6,578) (0.01) Sachs J.P. Morgan EUR 31,903 CAD 50,000 22/01/2021 (162) (0.00) J.P. Morgan EUR 554,229 CHF 600,000 22/01/2021 (594) (0.00) J.P. Morgan EUR 111,103 GBP 100,000 22/01/2021 (586) (0.00) J.P. Morgan EUR 345,382 SEK 3,600,000 22/01/2021 (12,814) (0.01) J.P. Morgan USD 8,150,000 EUR 6,877,520 22/01/2021 (219,390) (0.23) Morgan EUR 319,081 CAD 500,000 22/01/2021 (1,567) (0.00) Stanley

ANIMA Funds Plc 649 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Trading Fund (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts (continued): 1.03% (2019: 0.14%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Morgan EUR 853,613 GBP 785,000 22/01/2021 (23,143) (0.03) Stanley Morgan EUR 426,799 JPY 54,000,000 22/01/2021 (579) (0.00) Stanley Morgan EUR 71,673 SEK 750,000 22/01/2021 (2,952) (0.00) Stanley Morgan USD 1,700,000 EUR 1,426,223 22/01/2021 (37,411) (0.04) Stanley

Total Fair Value Losses on Forward Currency Contracts (305,776) (0.32)

Total Forward Currency Contracts 1,012,489 1.03

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 72,537,482) 75,745,749 77.46

Cash and Cash Equivalents 17,757,898 18.16

Other Net Assets 4,282,250 4.38

Net Assets Attributable to Holders of Redeemable Participating Shares 97,785,897 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 75.78 Over the counter financial derivative instruments 1.34 Other Assets 22.88

100.00

ANIMA Funds Plc 650 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Active Selection

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Investment Funds: 98.52% (2019: 95.22%)

Ireland: 30.96% 40,513 ANIMA U.S. Equity*/** 994,963 5.18 66,425 ANIMA Global Equity*/** 858,787 4.48 121,580 ANIMA Star High Potential Europe*/** 1,068,726 5.57 38,329 ANIMA Europe Equity Value 522,335 2.72 1 AXA Rosenberg Global Small Cap Alpha Fund 18 0.00 60,941 ANIMA Short Term Corporate Bond*/** 348,624 1.82 137,325 ANIMA Star Bond*/** 697,707 3.64 28,365 ANIMA Italian Equity 191,936 1.00 66,735 ANIMA Smart Volatility Global 388,064 2.02 18,521 ANIMA High Yield Bond 96,904 0.50 63,110 ANIMA Hybrid Bond 384,819 2.01 77,175 ANIMA Flexible Bond 388,377 2.02

Total Ireland 5,941,260 30.96

Italy: 27.55% 47,411 ANIMA Obbligazionario Corporate** 500,802 2.61 64,602 ANIMA Pacifico** 600,023 3.13 18,224 ANIMA Iniziativa Europa** 306,679 1.60 53,089 ANIMA Emergenti** 797,498 4.16 7,095 ANIMA Selezione Globale** 487,882 2.54 52,650 ANIMA Global Macro Diversified 290,471 1.51 67,396 ANIMA Obbligazionario Emergente 582,029 3.03 139,819 ANIMA Pianeta** 1,720,061 8.97

Total Italy 5,285,445 27.55

Luxembourg: 40.01% 3,518 AB FCP I - Emerging Markets Growth Portfolio 195,752 1.02 58,912 AB SICAV I - European Equity Portfolio 1,241,269 6.47 1,323 AXA World Funds - Framlington Eurozone 358,838 1.87 449 AXA World Funds - Global High Yield Bonds 96,524 0.50 7,619 AXA World Funds - Euro Credit Short Duration 1,049,240 5.47 6,282 AXA World Funds - Defensive Optimal Income 682,871 3.56 12,798 AB SICAV I - Select U.S. Equity Portfolio 496,645 2.59 1,404 AXA World Funds - Framlington Emerging Markets 194,238 1.01 1,681 AXA World Funds - Global Flexible Property 189,750 0.99 2,157 AXA World Funds - Global Factors - Sustainable Equity 478,375 2.49 57,436 AB SICAV I - Global Core Equity Portfolio 1,192,793 6.22 9,876 AXA World Funds - Global Green Bonds 1,116,503 5.82 2,904 AXA World Funds - Global Strategic Bonds 384,745 2.00

Total Luxembourg 7,677,543 40.01

Total Investment Funds 18,904,248 98.52

Total Value of Investments (Cost: EUR 17,940,275) 18,904,248 98.52

ANIMA Funds Plc 651 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Active Selection (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 398,222 2.07

Other Net Liabilities (113,801) (0.59)

Net Assets Attributable to Holders of Redeemable Participating Shares 19,188,669 100.00

* The indicated holdings are cross holdings in the ANIMA Funds Plc. ** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets UCITS and non-UCITS Investment Funds 97.94 Other Assets 2.06

100.00

ANIMA Funds Plc 652 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Dividends Europe

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 60.31% (2019: 64.16%)

Belgium: 2.79%

Investment Companies: 1.90% 1,470 Groupe Bruxelles Lambert SA 121,305 0.93 460 Sofina SA 127,420 0.97

Pharmaceuticals: 0.89% 1,384 UCB SA 116,920 0.89

Total Belgium 365,645 2.79

Denmark: 5.66%

Building Products: 1.01% 430 ROCKWOOL International A/S 131,597 1.01

Chemicals: 0.95% 2,657 Novozymes A/S 124,757 0.95

Healthcare Products: 1.85% 976 Coloplast A/S 121,891 0.93 1,848 GN Store Nord A/S 120,958 0.92

Pharmaceuticals: 0.90% 2,066 Novo Nordisk A/S 118,420 0.90

Transportation: 0.95% 904 DSV A/S 123,878 0.95

Total Denmark 741,501 5.66

Finland: 0.94%

Oil & Gas: 0.94% 2,079 Neste OYJ 122,994 0.94

Total Finland 122,994 0.94

France: 3.82%

Apparel Retail: 0.95% 142 Hermes International 124,903 0.95

Computers & Peripherals: 0.95% 456 Teleperformance 123,713 0.95

Pharmaceuticals: 0.94% 1,570 Sanofi 123,559 0.94

ANIMA Funds Plc 653 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Dividends Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 60.31% (2019: 64.16%)

France (continued): 3.82%

Software: 0.98% 771 Dassault Systemes SE 128,102 0.98

Total France 500,277 3.82

Germany: 13.19%

Chemicals: 3.72% 1,880 BASF SE 121,673 0.93 1,926 Brenntag AG 121,993 0.93 2,547 Fuchs Petrolub SE Pref 118,283 0.90 1,160 Symrise AG 125,744 0.96

Computers & Peripherals: 0.94% 688 Bechtle AG 122,739 0.94

Construction & Engineering: 0.95% 1,572 Hochtief AG 125,053 0.95

Healthcare Services: 1.84% 1,777 Fresenius Medical Care AG & Co KGaA 121,191 0.93 3,166 Fresenius SE & Co KGaA 119,802 0.91

Insurance: 0.94% 612 Allianz SE 122,828 0.94

Real Estate: 2.86% 2,836 Deutsche Wohnen SE 123,905 0.95 990 LEG Immobilien AG 125,789 0.96 2,085 Vonovia SE 124,600 0.95

Software: 1.94% 2,086 Nemetschek SE 125,994 0.96 1,194 SAP SE 128,021 0.98

Total Germany 1,727,615 13.19

Ireland: 0.92%

Food: 0.92% 1,016 Kerry Group Plc 120,396 0.92

Total Ireland 120,396 0.92

ANIMA Funds Plc 654 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Dividends Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 60.31% (2019: 64.16%)

Italy: 0.95%

Pharmaceuticals: 0.95% 2,738 Recordati SpA 124,113 0.95

Total Italy 124,113 0.95

Jersey, Channel Islands: 0.95%

Commercial Services & Supplies: 0.95% 4,021 Experian Plc 124,750 0.95

Total Jersey, Channel Islands 124,750 0.95

Netherlands: 2.81%

Media: 0.94% 1,790 Wolters Kluwer NV 123,618 0.94

Pipelines: 0.91% 2,783 Koninklijke Vopak NV 119,641 0.91

Semiconductors: 0.96% 315 ASML Holding NV 125,228 0.96

Total Netherlands 368,487 2.81

Norway: 1.90%

Banks: 0.98% 8,020 DNB ASA 128,614 0.98

Telecommunications: 0.92% 8,615 Telenor ASA 119,982 0.92

Total Norway 248,596 1.90

Spain: 1.76%

Electric: 0.93% 7,277 Red Electrica Corp SA 122,072 0.93

Gas: 0.83% 6,015 Enagas SA 108,059 0.83

Total Spain 230,131 1.76

ANIMA Funds Plc 655 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Dividends Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 60.31% (2019: 64.16%)

Sweden: 2.95%

Entertainment: 1.00% 1,576 Evolution Gaming Group AB 130,930 1.00

Food: 0.94% 3,023 ICA Gruppen AB 123,616 0.94

Machinery - Diversified: 1.01% 1,767 Hexagon AB 131,850 1.01

Total Sweden 386,396 2.95

Switzerland: 7.57%

Chemicals: 0.95% 36 Givaudan SA 124,155 0.95

Equity Investment Instruments: 0.97% 132 Partners Group Holding AG 126,928 0.97

Food: 1.88% 15 Chocoladefabriken Lindt & Spruengli AG 119,689 0.92 1,307 Nestle SA 125,992 0.96

Insurance: 0.92% 1,562 Swiss RE AG 120,361 0.92

Pharmaceuticals: 1.89% 1,624 Novartis AG 125,604 0.96 427 Roche Holding AG 121,993 0.93

Software: 0.96% 1,105 Temenos AG 126,330 0.96

Total Switzerland 991,052 7.57

United Kingdom: 14.10%

Agriculture: 0.90% 3,872 British American Tobacco Plc 117,143 0.90

Beverages: 0.92% 3,755 Diageo Plc 120,734 0.92

Chemicals: 0.98% 1,746 Croda International Plc 128,664 0.98

Commercial Services & Supplies: 2.83% 3,289 Ashtead Group Plc 126,328 0.96 1,905 Intertek Group Plc 120,205 0.92 6,200 RELX Plc 124,160 0.95

ANIMA Funds Plc 656 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Dividends Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 60.31% (2019: 64.16%)

United Kingdom (continued): 14.10%

Cosmetics & Personal Care: 0.96% 2,540 Unilever Plc 125,895 0.96

Distributors: 0.98% 4,695 Bunzl Plc 128,141 0.98

Electronics: 0.96% 4,576 Halma Plc 125,200 0.96

Gas: 0.92% 12,511 National Grid Plc 120,903 0.92

Insurance: 0.95% 41,974 Legal & General Group Plc 124,830 0.95

Machinery - Diversified: 0.92% 958 Spirax-Sarco Engineering Plc 120,888 0.92

Pharmaceuticals: 0.95% 4,408 Hikma Pharmaceuticals PLC 124,002 0.95

Software: 0.95% 19,173 Sage Group Plc 124,665 0.95

Water: 0.88% 11,512 United Utilities Group Plc 115,108 0.88

Total United Kingdom 1,846,866 14.10

Total Equities 7,898,819 60.31

Bonds: 33.10% (2019: 30.93%)

Italy: 33.10%

Government Bonds: 33.10% 158,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 158,022 1.21 780,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 780,513 5.96 800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 800,926 6.12 790,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 791,618 6.04 770,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 772,632 5.90 1,028,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 1,030,478 7.87

Total Italy 4,334,189 33.10

Total Bonds 4,334,189 33.10

Total Value of Investments (Cost: EUR 11,911,207) 12,233,008 93.41

ANIMA Funds Plc 657 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Smart Dividends Europe (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 857,582 6.55

Other Net Assets 5,253 0.04

Net Assets Attributable to Holders of Redeemable Participating Shares 13,095,843 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 93.29 Other Assets 6.71

100.00

ANIMA Funds Plc 658 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Flexible Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 83.49% (2019: 84.82%)

France: 7.08%

Corporate Bonds: 7.08% 220,000 Altice France SA 5.88% 01/02/2027 234,047 0.54 500,000 AXA SA FRN 16/01/2054 743,745 1.73 200,000 BNP Paribas SA FRN 20/11/2030 215,770 0.50 200,000 Electricite de France SA 2.00% 02/10/2030 232,710 0.54 200,000 La Poste SA FRN 31/12/2099 214,500 0.50 200,000 Orange SA FRN 29/12/2049 227,250 0.53 200,000 Peugeot SA 2.00% 23/03/2024 210,887 0.49 400,000 Societe Generale SA 2.13% 27/09/2028 449,304 1.04 500,000 Total SA FRN 29/12/2049 523,125 1.21

Total France 3,051,338 7.08

Germany: 0.95%

Corporate Bonds: 0.95% 200,000 Bayer AG FRN 12/11/2079 203,000 0.47 200,000 Volkswagen Financial Services AG 1.38% 16/10/2023 206,922 0.48

Total Germany 409,922 0.95

Greece: 3.48%

Government Bonds: 3.48% 1,000,000 Hellenic Republic Treasury Bill Zero Coupon 29/01/2021 1,000,288 2.32 500,000 Hellenic Republic Treasury Bill Zero Coupon 11/06/2021 500,209 1.16

Total Greece 1,500,497 3.48

Italy: 48.39%

Corporate Bonds: 15.77% 200,000 Assicurazioni Generali SpA 2.12% 01/10/2030 212,500 0.49 300,000 Assicurazioni Generali SpA FRN 08/06/2048 362,250 0.84 200,000 Banca Farmafactoring SpA 1.75% 23/05/2023 203,543 0.47 800,000 Banca Monte dei Paschi di Siena SpA 4.00% 10/07/2022 828,140 1.92 220,000 Banco BPM SpA 2.00% 08/03/2022 224,212 0.52 150,000 Banco BPM SpA 1.75% 24/04/2023 153,945 0.36 400,000 Banco BPM SpA 2.50% 21/06/2024 421,412 0.98 500,000 Banco BPM SpA 1.63% 18/02/2025 494,849 1.15 200,000 BPER Banca FRN 31/05/2027 207,500 0.48 220,000 Enel SpA FRN 10/01/2074 247,445 0.57 400,000 Intesa Sanpaolo Vita SpA FRN 31/12/2049 436,400 1.01 300,000 Servizi Assicurativi Del Commercio Estero SpA FRN 02/10/2049 314,400 0.73 220,000 UniCredit SpA 6.95% 31/10/2022 244,732 0.57 200,000 UniCredit SpA FRN 03/01/2027 207,010 0.48 250,000 UniCredit SpA FRN 29/12/2049 254,062 0.59 1,000,000 UniCredit SpA FRN 31/12/2099 897,500 2.08 250,000 Unione di Banche Italiane SpA 2.63% 20/06/2024 267,037 0.62

ANIMA Funds Plc 659 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Flexible Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 83.49% (2019: 84.82%)

Italy (continued): 48.39%

Corporate Bonds (continued): 15.77% 100,000 Unione di Banche Italiane SpA FRN 05/05/2026 101,195 0.24 220,000 Unione di Banche Italiane SpA FRN 15/09/2027 231,000 0.54 250,000 Unipol Gruppo SpA 3.50% 29/11/2027 269,067 0.63 200,000 UnipolSai Assicurazioni SpA FRN 31/12/2049 215,700 0.50

Government Bonds: 32.62% 2,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 26/02/2021 2,502,313 5.81 1,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/06/2021 1,202,975 2.79 2,400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 2,407,114 5.59 4,000,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 4,063,892 9.43 3,050,000 Italy Buoni Poliennali Del Tesoro 0.35% 01/02/2025 3,116,765 7.24 500,000 Italy Buoni Poliennali Del Tesoro 5.20% 31/07/2034 759,200 1.76

Total Italy 20,846,158 48.39

Japan: 0.62%

Corporate Bonds: 0.62% 250,000 SoftBank Group Corp 4.00% 19/09/2029 264,820 0.62

Total Japan 264,820 0.62

Luxembourg: 0.43%

Corporate Bonds: 0.43% 200,000 Vivion Investments Sarl 3.00% 08/08/2024 184,200 0.43

Total Luxembourg 184,200 0.43

Netherlands: 4.87%

Corporate Bonds: 4.87% 300,000 Dufry One BV 2.50% 15/10/2024 287,220 0.67 200,000 NN Group NV FRN 13/01/2048 240,500 0.56 200,000 OCI NV 3.13% 01/11/2024 205,500 0.48 200,000 Telefonica Europe BV FRN 31/12/2099 202,500 0.47 500,000 Volkswagen International Finance NV FRN 29/03/2049 555,000 1.29 100,000 Volkswagen International Finance NV FRN 29/12/2049 105,525 0.24 500,000 Ziggo Bond Co BV 3.38% 28/02/2030 502,375 1.16

Total Netherlands 2,098,620 4.87

Portugal: 4.88%

Corporate Bonds: 0.76% 300,000 Caixa Geral de Depositos SA FRN 28/06/2028 328,558 0.76

ANIMA Funds Plc 660 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Flexible Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 83.49% (2019: 84.82%)

Portugal (continued): 4.88%

Government Bonds: 4.12% 1,500,000 Portugal Obrigacoes do Tesouro OT 2.88% 21/07/2026 1,771,873 4.12

Total Portugal 2,100,431 4.88

Spain: 6.06%

Corporate Bonds: 0.96% 200,000 Bankinter SA 0.63% 06/10/2027 203,517 0.47 200,000 Liberbank SA FRN 14/03/2027 211,240 0.49

Government Bonds: 5.10% 2,000,000 Spain Government Bond 1.30% 31/10/2026 2,196,704 5.10

Total Spain 2,611,461 6.06

Sweden: 2.04%

Corporate Bonds: 2.04% 500,000 Intrum AB 3.50% 15/07/2026 495,000 1.15 200,000 Skandinaviska Enskilda Banken AB FRN 13/11/2099 168,158 0.39 200,000 Vattenfall AB FRN 19/03/2077 215,250 0.50

Total Sweden 878,408 2.04

United Kingdom: 3.07%

Corporate Bonds: 3.07% 250,000 INEOS Finance Plc 2.13% 15/11/2025 246,755 0.57 250,000 International Game Technology Plc 3.50% 15/07/2024 260,375 0.61 350,000 Tesco Corporate Treasury Services Plc 2.50% 01/07/2024 378,935 0.88 420,000 Vodafone Group Plc FRN 03/01/2079 435,319 1.01

Total United Kingdom 1,321,384 3.07

United States: 1.62%

Corporate Bonds: 1.62% 400,000 AT&T Inc FRN 31/12/2099 401,800 0.93 300,000 Ford Motor Credit Co LLC 1.74% 19/07/2024 298,083 0.69

Total United States 699,883 1.62

Total Bonds 35,967,122 83.49

ANIMA Funds Plc 661 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Flexible Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Futures contracts: 0.01% (2019: 0.37%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets (14,898,400) (110) Euro-Bobl Futures March 2021 28,600 0.07

Total Fair Value Gains on Open Futures Contracts 28,600 0.07

(5,145,220) (34) Euro-BTP Futures March 2021 (23,120) (0.06)

Total Fair Value Losses on Open Futures Contracts (23,120) (0.06)

Total Futures Contracts 5,480 0.01

Forward Currency Contracts: (0.25%) (2019: 1.03%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Credit EUR 1,118,514 GBP 1,000,000 12/01/2021 1,443 0.00 Agricole Credit EUR 2,155,834 USD 2,590,000 12/01/2021 39,441 0.09 Agricole Credit JPY 60,000,000 EUR 473,732 12/01/2021 1,188 0.00 Agricole J.P. Morgan EUR 747,337 BRL 4,700,000 15/01/2021 7,919 0.02 Morgan EUR 1,193,694 HUF 430,000,000 12/01/2021 8,255 0.02 Stanley Morgan EUR 482,865 JPY 60,000,000 12/01/2021 7,945 0.02 Stanley Morgan MXN 8,000,000 EUR 311,605 12/01/2021 16,190 0.04 Stanley

Total Fair Value Gains on Forward Currency Contracts 82,381 0.19

Credit EUR 300,549 MXN 8,000,000 12/01/2021 (27,246) (0.06) Agricole Credit HUF 430,000,000 EUR 1,207,343 12/01/2021 (21,904) (0.05) Agricole Credit USD 1,000,000 EUR 844,683 12/01/2021 (27,543) (0.07) Agricole J.P. Morgan EUR 1,397,656 BRL 9,300,000 15/01/2021 (65,447) (0.15) J.P. Morgan EUR 483,559 RUB 45,000,000 15/01/2021 (13,462) (0.03) J.P. Morgan RUB 45,000,000 EUR 497,733 15/01/2021 (711) (0.00) Morgan BRL 5,700,000 EUR 907,629 15/01/2021 (10,889) (0.03) Stanley Nomura BRL 8,300,000 EUR 1,328,638 15/01/2021 (22,858) (0.05)

Total Fair Value Losses on Forward Currency Contracts (190,060) (0.44)

Total Forward Currency Contracts (107,679) (0.25)

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 35,555,588) 35,864,923 83.25

ANIMA Funds Plc 662 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Flexible Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents and Due From Broker 6,903,821 16.02

Other Net Assets 313,159 0.73

Net Assets Attributable to Holders of Redeemable Participating Shares 43,081,903 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 83.01 Financial derivative instruments dealt in on a regulated market 0.06 Over the counter financial derivative instruments 0.19 Other Assets 16.74

100.00

ANIMA Funds Plc 663 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2022-I

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 83.21% (2019: 60.88%)

Germany: 2.24%

Corporate Bonds: 2.24% 700,000 Commerzbank AG 7.75% 16/03/2021 709,639 2.24

Total Germany 709,639 2.24

Italy: 71.79%

Corporate Bonds: 10.73% 500,000 Banco BPM SpA 2.00% 08/03/2022 509,400 1.61 500,000 FCA Bank SpA 1.00% 21/02/2022 506,054 1.59 375,000 Intesa Sanpaolo SpA 3.50% 17/01/2022 389,476 1.23 500,000 Intesa Sanpaolo SpA 1.13% 04/03/2022 507,287 1.60 500,000 Telecom Italia SpA 5.25% 10/02/2022 528,670 1.67 500,000 Unione di Banche Italiane SpA 1.00% 22/07/2022 508,241 1.60 450,000 Unipol Gruppo SpA 4.38% 05/03/2021 453,315 1.43

Government Bonds: 61.06% 686,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 686,110 2.16 5,700,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 5,703,853 17.98 3,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 3,457,123 10.90 2,000,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 2,051,008 6.47 4,150,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/03/2022 4,414,479 13.92 1,650,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/03/2023 1,698,164 5.35 1,350,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 1,356,240 4.28

Total Italy 22,769,420 71.79

Jersey, Channel Islands: 2.56%

Corporate Bonds: 2.56% 800,000 Glencore Finance Europe Ltd 1.63% 18/01/2022 810,608 2.56

Total Jersey, Channel Islands 810,608 2.56

Spain: 1.60%

Corporate Bonds: 1.60% 500,000 Banco Santander SA 1.38% 09/02/2022 508,936 1.60

Total Spain 508,936 1.60

United Kingdom: 1.87%

Corporate Bonds: 1.87% 550,000 Barclays Bank Plc 6.63% 30/03/2022 594,128 1.87

Total United Kingdom 594,128 1.87

ANIMA Funds Plc 664 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2022-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 83.21% (2019: 60.88%)

United States: 3.15%

Corporate Bonds: 3.15% 650,000 Goldman Sachs Group Inc 4.75% 12/10/2021 671,996 2.12 320,000 Kinder Morgan Inc 1.50% 16/03/2022 325,760 1.03

Total United States 997,756 3.15

Total Bonds 26,390,487 83.21

Investment Funds: 14.70% (2019:36.76%)

Ireland: 7.69% 65,257 ANIMA Europe Equity Value*/** 889,300 2.80 48,533 iShares FTSE MIB UCITS ETF EUR Dist 644,130 2.03 36,822 iShares Core MSCI Europe UCITS ETF 906,373 2.86

Total Ireland 2,439,803 7.69

Italy: 0.58% 28,602 ANIMA Italia** 183,026 0.58

Total Italy 183,026 0.58

Luxembourg: 6.43% 1,709 AXA World Funds - Framlington Italy 190,944 0.60 44,128 Xtrackers Spain UCITS ETF 959,563 3.03 3,291 AXA World Funds - Framlington Europe 889,538 2.80

Total Luxembourg 2,040,045 6.43

Total Investment Funds 4,662,874 14.70

Total Value of Investments (Cost: EUR 30,933,817) 31,053,361 97.91

Cash and Cash Equivalents 497,630 1.57

Other Net Assets 165,931 0.52

Net Assets Attributable to Holders of Redeemable Participating Shares 31,716,922 100.00

* The indicated holdings are cross holdings in the ANIMA Funds Plc. ** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 82.99 UCITS and non-UCITS Investment Funds 14.67 Other Assets 2.34

100.00

ANIMA Funds Plc 665 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2022-II

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 76.71% (2019: 59.31%)

Germany: 3.30%

Corporate Bonds: 3.30% 500,000 Commerzbank AG 7.75% 16/03/2021 506,885 3.30

Total Germany 506,885 3.30

Italy: 59.20%

Corporate Bonds: 7.58% 200,000 Autostrade per l’Italia SpA 1.63% 12/06/2023 199,480 1.30 400,000 Banco BPM SpA 2.00% 08/03/2022 407,520 2.65 300,000 Intesa Sanpaolo SpA 1.13% 04/03/2022 304,372 1.98 250,000 Unione di Banche Italiane SpA 1.00% 22/07/2022 254,121 1.65

Government Bonds: 51.62% 1,730,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,730,277 11.25 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 1,300,879 8.46 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 1,002,980 6.52 350,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 358,926 2.33 300,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/03/2022 319,119 2.07 2,150,000 Italy Buoni Poliennali Del Tesoro 1.20% 01/04/2022 2,194,862 14.27 1,000,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 1,023,062 6.65 10,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/05/2023 11,145 0.07

Total Italy 9,106,743 59.20

Luxembourg: 3.46%

Corporate Bonds: 3.46% 500,000 Fiat Chrysler Finance Europe SENC 4.75% 15/07/2022 532,990 3.46

Total Luxembourg 532,990 3.46

Spain: 1.34%

Corporate Bonds: 1.34% 200,000 Merlin Properties Socimi SA 2.38% 23/05/2022 205,577 1.34

Total Spain 205,577 1.34

United Kingdom: 6.16%

Corporate Bonds: 6.16% 500,000 Barclays Bank Plc 6.63% 30/03/2022 540,116 3.51 400,000 Barclays Plc 1.50% 01/04/2022 408,103 2.65

Total United Kingdom 948,219 6.16

ANIMA Funds Plc 666 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2022-II (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 76.71% (2019: 59.31%)

United States: 3.25%

Corporate Bonds: 3.25% 500,000 Flowserve Corp 1.25% 17/03/2022 499,944 3.25

Total United States 499,944 3.25

Total Bonds 11,800,358 76.71

Investment Funds: 15.23% (2019:36.17%)

Ireland: 6.69% 77,497 iShares FTSE MIB UCITS ETF EUR Dist 1,028,540 6.69

Total Ireland 1,028,540 6.69

Italy: 4.61% 110,889 ANIMA Italia** 709,577 4.61

Total Italy 709,577 4.61

Luxembourg: 3.93% 5,406 AXA World Funds - Framlington Italy 603,960 3.93

Total Luxembourg 603,960 3.93

Total Investment Funds 2,342,077 15.23

Total Value of Investments (Cost: EUR 13,577,275) 14,142,435 91.94

Cash and Cash Equivalents 1,149,427 7.47

Other Net Assets 91,091 0.59

Net Assets Attributable to Holders of Redeemable Participating Shares 15,382,953 100.00

** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 76.64 UCITS and non-UCITS Investment Funds 15.21 Other Assets 8.15

100.00

ANIMA Funds Plc 667 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2022-III

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 74.62% (2019: 46.10%)

France: 2.28%

Corporate Bonds: 2.28% 400,000 CNP Assurances 1.88% 20/10/2022 413,182 1.82 100,000 TDF Infrastructure SASU 2.88% 19/10/2022 103,861 0.46

Total France 517,043 2.28

Germany: 0.90%

Corporate Bonds: 0.90% 200,000 Commerzbank AG 7.75% 16/03/2021 202,754 0.90

Total Germany 202,754 0.90

Guernsey: 0.90%

Corporate Bonds: 0.90% 200,000 Credit Suisse Group Funding Guernsey Ltd 1.25% 14/04/2022 203,650 0.90

Total Guernsey 203,650 0.90

Ireland: 1.04%

Corporate Bonds: 1.04% 200,000 Bank of Ireland 10.00% 19/12/2022 236,369 1.04

Total Ireland 236,369 1.04

Italy: 59.34%

Corporate Bonds: 8.49% 150,000 Autostrade per l’Italia SpA 1.63% 12/06/2023 149,610 0.66 400,000 Banco BPM SpA 2.00% 08/03/2022 407,520 1.80 200,000 Intesa Sanpaolo SpA 3.50% 17/01/2022 207,720 0.92 200,000 Leonardo SpA 5.25% 21/01/2022 209,700 0.93 100,000 Telecom Italia SpA 5.25% 10/02/2022 105,734 0.47 300,000 UniCredit SpA 6.95% 31/10/2022 333,618 1.47 500,000 Unione di Banche Italiane SpA 1.00% 22/07/2022 508,241 2.24

Government Bonds: 50.85% 1,929,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,929,309 8.52 4,050,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 4,052,738 17.90 500,000 Italy Buoni Poliennali Del Tesoro 1.00% 15/07/2022 511,120 2.26 500,000 Italy Buoni Poliennali Del Tesoro 0.90% 01/08/2022 510,611 2.25 1,100,000 Italy Buoni Poliennali Del Tesoro 5.50% 01/09/2022 1,208,225 5.34 1,000,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 1,032,378 4.56 900,000 Italy Buoni Poliennali Del Tesoro 5.50% 01/11/2022 997,200 4.40 800,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 807,513 3.57

ANIMA Funds Plc 668 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2022-III (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 74.62% (2019: 45.48%)

Italy (continued): 59.34%

Government Bonds (continued): 50.85% 450,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 463,410 2.05

Total Italy 13,434,647 59.34

Luxembourg: 1.85%

Corporate Bonds: 1.85% 200,000 ArcelorMittal SA 3.13% 14/01/2022 206,334 0.91 200,000 Fiat Chrysler Finance Europe SENC 4.75% 15/07/2022 213,196 0.94

Total Luxembourg 419,530 1.85

Netherlands: 1.42%

Corporate Bonds: 1.42% 300,000 Cooperatieve Rabobank UA 4.13% 14/09/2022 321,150 1.42

Total Netherlands 321,150 1.42

Spain: 2.26%

Corporate Bonds: 2.26% 300,000 Criteria Caixa SA 1.63% 21/04/2022 306,693 1.35 200,000 Merlin Properties Socimi SA 2.38% 23/05/2022 205,577 0.91

Total Spain 512,270 2.26

United Kingdom: 4.63%

Corporate Bonds: 4.63% 200,000 Anglo American Capital Plc 3.50% 28/03/2022 208,804 0.92 250,000 Barclays Bank Plc 6.63% 30/03/2022 270,058 1.20 200,000 DS Smith Plc 2.25% 16/09/2022 206,612 0.91 250,000 Leeds Building Society 1.38% 05/05/2022 255,225 1.13 100,000 Standard Chartered Plc 3.63% 23/11/2022 106,269 0.47

Total United Kingdom 1,046,968 4.63

Total Bonds 16,894,381 74.62

Investment Funds: 19.91% (2019:47.56%)

Ireland: 19.91% 35,564 iShares Asia Pacific Dividend UCITS ETF 678,437 3.00 34,118 SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF 437,256 1.93 205,016 ANIMA Smart Dividends Europe*/** 1,026,678 4.53 41,422 Xtrackers MSCI North America High Dividend Yield UCITS ETF 1,347,250 5.95

ANIMA Funds Plc 669 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2022-III (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Investment Funds (continued): 19.91% (2019:47.56%)

Ireland (continued): 19.91% 48,561 SPDR S&P Euro Dividend Aristocrats UCITS ETF 1,018,810 4.50

Total Ireland 4,508,431 19.91

Total Investment Funds 4,508,431 19.91

Total Value of Investments (Cost: EUR 21,080,676) 21,402,812 94.53

Cash and Cash Equivalents 1,337,335 5.90

Other Net Liabilities (98,124) (0.43)

Net Assets Attributable to Holders of Redeemable Participating Shares 22,642,023 100.00

* The indicated holdings are cross holdings in the ANIMA Funds Plc. ** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 73.86 UCITS and non-UCITS Investment Funds 19.71 Other Assets 6.43

100.00

ANIMA Funds Plc 670 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2023-I

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Investment Funds: 95.49% (2019: 92.56%)

Ireland: 26.15% 125,018 ANIMA Europe Equity Value*/** 1,703,690 4.53 41,802 ANIMA Euro Equity*/** 363,412 0.97 591,410 ANIMA Short Term Corporate Bond*/** 3,383,281 9.00 396,242 ANIMA Star Bond*/** 2,013,185 5.35 162,035 ANIMA High Yield Bond 847,784 2.25 124,456 ANIMA Hybrid Bond 758,881 2.02 151,559 ANIMA Flexible Bond 762,706 2.03

Total Ireland 9,832,939 26.15

Italy: 26.35% 532,136 ANIMA Obbligazionario Corporate** 5,620,957 14.95 22,205 ANIMA Iniziativa Europa** 373,658 0.99 27,955 ANIMA Obbligazionario High Yield** 405,650 1.08 88,007 ANIMA Obbligazionario Emergente 760,029 2.02 189,671 ANIMA Pianeta** 2,333,332 6.20 65,176 ANIMA Italia 417,064 1.11

Total Italy 9,910,690 26.35

Luxembourg: 42.99% 74,835 AB SICAV I - European Equity Portfolio 1,576,771 4.19 4,563 AXA World Funds - Framlington Eurozone 1,237,937 3.29 2,909 AXA World Funds - Global High Yield Bonds 503,769 1.34 24,821 AXA World Funds - Euro Credit Short Duration 3,418,357 9.09 25,554 AB SICAV I - Eurozone Equity Portfolio 765,587 2.04 18,029 AB SICAV I - Short Duration High Yield Portfolio 369,956 0.99 31,654 AB FCP I - Emerging Markets Debt Portfolio 751,780 2.00 12,062 Xtrackers MSCI Europe UCITS ETF 756,167 2.01 26,089 AXA World Funds - Global Green Bonds 2,949,308 7.84 20,012 AXA World Funds - Global Strategic Bonds 2,651,058 7.05 4,380 AXA World Funds - Framlington Europe 1,184,076 3.15

Total Luxembourg 16,164,766 42.99

Total Investment Funds 35,908,395 95.49

Total Value of Investments (Cost: EUR 34,950,144) 35,908,395 95.49

Cash and Cash Equivalents 1,707,317 4.54

Other Net Liabilities (12,329) (0.03)

Net Assets Attributable to Holders of Redeemable Participating Shares 37,603,383 100.00

* The indicated holdings are cross holdings in the ANIMA Funds Plc. ** The indicated holdings are managed by ANIMA SGR S.p.A.

ANIMA Funds Plc 671 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution 2023-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets UCITS and non-UCITS Investment Funds 95.46 Other Assets 4.54

100.00

ANIMA Funds Plc 672 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Solution EM

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Investment Funds: 96.83 %(2019: 93.99%)

Ireland: 23.21% 598,881 ANIMA Short Term Corporate Bond*/** 3,426,016 10.96 392,029 ANIMA Star Bond*/** 1,991,783 6.37 110,329 ANIMA High Yield Bond 577,251 1.85 103,748 ANIMA Hybrid Bond 632,612 2.02 125,036 ANIMA Flexible Bond 629,232 2.01

Total Ireland 7,256,894 23.21

Italy: 32.54% 413,233 ANIMA Obbligazionario Corporate** 4,364,986 13.96 146,037 ANIMA Pacifico** 1,356,393 4.34 95,170 ANIMA Emergenti** 1,429,638 4.57 40,047 ANIMA Obbligazionario High Yield** 581,117 1.86 73,478 ANIMA Obbligazionario Emergente 634,556 2.03 146,750 ANIMA Pianeta** 1,805,319 5.78

Total Italy 10,172,009 32.54

Luxembourg: 41.08% 26,055 AB FCP I - Emerging Markets Growth Portfolio 1,449,526 4.64 5,040 AXA World Funds - Global High Yield Bonds 872,976 2.79 11,249 AXA World Funds - Euro Credit Short Duration 1,549,240 4.96 10,044 AXA World Funds - Framlington Emerging Markets 1,389,658 4.44 15,402 AB SICAV I - Short Duration High Yield Portfolio 316,044 1.01 25,556 AB FCP I - Emerging Markets Debt Portfolio 606,952 1.94 295,678 Amundi Msci Emerging Markets UCITS ETF 1,422,655 4.55 13,600 UBS ETF-MSCI Emerging Markets UCITS ETF 1,414,944 4.53 14,448 AXA World Funds - Global Green Bonds 1,633,375 5.22 16,519 AXA World Funds - Global Strategic Bonds 2,188,221 7.00

Total Luxembourg 12,843,591 41.08

Total Investment Funds 30,272,494 96.83

Total Value of Investments (Cost: EUR 28,923,999) 30,272,494 96.83

Cash and Cash Equivalents 1,001,826 3.20

Other Net Liabilities (9,248) (0.03)

Net Assets Attributable to Holders of Redeemable Participating Shares 31,265,072 100.00

* The indicated holdings are cross holdings in the ANIMA Funds Plc. ** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets UCITS and non-UCITS Investment Funds 96.80 Other Assets 3.20

100.00

ANIMA Funds Plc 673 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Italian Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 97.50% (2019: 96.95%)

Italy: 92.27%

Government Bonds: 92.27% 1,100,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2021 1,101,560 3.39 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 501,749 1.54 2,200,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/05/2023 2,452,340 7.54 2,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 2,017,306 6.20 1,670,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/09/2024 1,912,317 5.88 425,000 Italy Buoni Poliennali Del Tesoro 1.40% 26/05/2025 449,726 1.38 1,900,000 Italy Buoni Poliennali Del Tesoro 1.85% 01/07/2025 2,067,550 6.36 1,200,000 Italy Buoni Poliennali Del Tesoro 2.00% 01/12/2025 1,322,148 4.06 300,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/07/2026 334,185 1.03 250,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 337,164 1.04 500,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 522,287 1.61 1,700,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 1,784,490 5.49 400,000 Italy Buoni Poliennali Del Tesoro 0.65% 28/10/2027 410,534 1.26 350,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 409,707 1.26 1,300,000 Italy Buoni Poliennali Del Tesoro 1.35% 01/04/2030 1,406,752 4.33 500,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/08/2030 522,576 1.61 500,000 Italy Buoni Poliennali Del Tesoro 1.65% 01/12/2030 554,665 1.71 1,000,000 Italy Buoni Poliennali Del Tesoro 0.90% 01/04/2031 1,034,898 3.18 500,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 536,853 1.65 1,280,000 Italy Buoni Poliennali Del Tesoro 2.25% 01/09/2036 1,523,482 4.68 250,000 Italy Buoni Poliennali Del Tesoro 3.10% 01/03/2040 333,850 1.03 710,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/09/2040 1,190,502 3.66 700,000 Italy Buoni Poliennali Del Tesoro 1.80% 01/03/2041 773,959 2.38 500,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 708,150 2.18 750,000 Italy Buoni Poliennali Del Tesoro 2.70% 01/03/2047 972,519 2.99 100,000 Italy Buoni Poliennali Del Tesoro 3.85% 01/09/2049 157,938 0.49 400,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/09/2050 498,960 1.53 2,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 2,004,820 6.16 650,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 653,951 2.01 1,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 28/09/2022 1,510,215 4.64

Total Italy 30,007,153 92.27

Spain: 5.23%

Government Bonds: 5.23% 1,700,000 Spain Government Bond 0.05% 31/01/2021 1,700,602 5.23

Total Spain 1,700,602 5.23

Total Bonds 31,707,755 97.50

ANIMA Funds Plc 674 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Italian Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Futures contracts: (0.03%) (2019: 0.09%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets (1,684,575) (15) Euro-Schatz Futures March 2021 450 0.00

Total Fair Value Gains on Open Futures Contracts 450 0.00

(1,511,750) (10) Euro-BTP Futures March 2021 (8,349) (0.03) (1,584,591) (14) Short Euro-BTP Futures March 2021 (769) (0.00)

Total Fair Value Losses on Open Futures Contracts (9,118) (0.03)

Total Futures Contracts (8,668) (0.03)

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 29,951,194) 31,699,087 97.47

Cash and Cash Equivalents and Due From Broker 718,539 2.21

Other Net Assets 104,054 0.32

Net Assets Attributable to Holders of Redeemable Participating Shares 32,521,680 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 97.36 Other Assets 2.64

100.00

ANIMA Funds Plc 675 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Italian Equity

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 98.37% (2019: 99.58%)

France: 3.30%

Building Products: 0.29% 1,200 Cie de Saint-Gobain 45,000 0.29

Computers & Peripherals: 0.44% 550 Capgemini SE 69,740 0.44

Healthcare Products: 0.28% 350 EssilorLuxottica SA 44,643 0.28

Oil & Gas: 0.67% 3,000 Total SA 105,900 0.67

Pharmaceuticals: 1.62% 3,250 Sanofi 255,775 1.62

Total France 521,058 3.30

Germany: 1.24%

Automobile Manufacturers: 0.29% 300 Volkswagen AG Pref 45,726 0.29

Electric: 0.78% 13,500 E.ON SE 122,364 0.78

Software: 0.17% 250 SAP SE 26,805 0.17

Total Germany 194,895 1.24

Italy: 91.87%

Apparel Retail: 0.84% 28,538 BasicNet SpA 118,718 0.75 2,000 Cover 50 SpA 13,900 0.09

Auto Components: 1.29% 8,000 Freni Brembo SpA 86,400 0.55 26,322 Pirelli & C SpA 116,685 0.74

Banks: 22.31% 17,050 Banca Generali SpA 464,442 2.95 32,800 Banca Mediolanum SpA 232,880 1.48 220,000 Banco BPM SpA 397,760 2.52 56,516 Banco di Desio e della Brianza SpA 145,811 0.93 55,944 Banco di Desio e della Brianza SpA Pref 129,790 0.82 30,000 Credito Emiliano SpA 132,300 0.84 31,894 FinecoBank Banca Fineco SpA 427,380 2.71 64,000 Intesa Sanpaolo SpA 122,406 0.78 194,094 Mediobanca Banca di Credito Finanziario SpA 1,463,469 9.28

ANIMA Funds Plc 676 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Italian Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.37% (2019: 99.58%)

Italy (continued): 91.87%

Building Products: 2.87% 29,524 Buzzi Unicem SpA Pref 387,355 2.46 30,173 Panariagroup Industrie Ceramiche SpA 27,457 0.17 6,402 SIT SpA 37,644 0.24

Chemicals: 0.96% 10,856 SOL SpA 151,984 0.96

Commercial Services & Supplies: 4.04% 18,215 ASTM SpA 375,229 2.38 1,774 Autostrade Meridionali SpA 33,883 0.22 5,700 Fiera Milano SpA 16,188 0.10 4,676 Gruppo MutuiOnline SpA 162,959 1.03 12,318 Italian Exhibition Group SpA 32,150 0.21 1,000 Nexi SpA 16,340 0.10

Computers & Peripherals: 0.56% 56,818 Be Shaping The Future SpA 82,954 0.53 1,000 Eurotech SpA 5,155 0.03

Construction & Engineering: 5.34% 2,703 Aeroporto Guglielmo Marconi di Bologna SpA 22,922 0.15 97,018 Caltagirone SpA 292,024 1.85 23,383 Enav SpA 84,132 0.53 25,224 Infrastrutture Wireless Italiane SpA 250,474 1.59 16,452 Salcef SpA 191,666 1.22

Containers & Packaging: 0.76% 124,260 Reno de Medici SpA 120,532 0.76

Cosmetics & Personal Care: 0.17% 1,834 Farmae’ SpA 27,327 0.17

Distributors: 0.50% 4,634 MARR SpA 78,129 0.50

Diversified Financial Services: 2.82% 52,371 Banca Farmafactoring SpA 258,713 1.64 76,286 Equita Group SpA 185,375 1.18

Electical Components & Equipment: 0.12% 1,254 Sabaf SpA 18,873 0.12

Electric: 10.33% 269,858 A2A SpA 352,030 2.23 20,000 ACEA SpA 343,000 2.18 254,000 Iren SpA 540,004 3.42 63,000 Terna Rete Elettrica Nazionale SpA 393,750 2.50

Electrical Equipment: 0.24% 1,688 Indel B SpA 38,318 0.24

ANIMA Funds Plc 677 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Italian Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.37% (2019: 99.58%)

Italy (continued): 91.87%

Electronics: 5.32% 1,200 Cembre SpA 22,620 0.15 2,313 El.En. SpA 61,410 0.39 7,319 Sesa SpA 753,857 4.78

Energy Sources: 3.56% 18,514 ERG SpA 433,228 2.75 19,526 Falck Renewables SpA 128,676 0.81

Entertainment: 0.62% 18,000 RAI Way SpA 98,280 0.62

Food: 0.89% 4,495 La Doria SpA 61,492 0.39 5,947 Valsoia SpA 78,203 0.50

Gas: 2.11% 21,315 Acsm - Agam SpA 48,598 0.31 20,000 Ascopiave SpA 72,700 0.46 46,000 Snam SpA 211,646 1.34

Healthcare Services: 0.27% 5,627 GPI SpA 41,977 0.27

Holding Companies - Diversified Operations: 1.09% 30,150 CIR SpA-Compagnie Industriali 13,266 0.08 12,900 SICIT Group SpA 159,315 1.01

Home Furnishings: 1.79% 8,946 De’ Longhi SpA 230,628 1.46 16,597 Elica SpA 51,368 0.33

Housewares: 0.18% 10,000 Neodecortech SpA 28,000 0.18

Insurance: 3.05% 122,848 Unipol Gruppo SpA 480,336 3.05

Internet: 2.69% 17,329 Cerved Group SpA 129,101 0.82 35,521 Openjobmetis SpA 250,778 1.59 457 Reply SpA 43,552 0.28

Investment Companies: 1.38% 7,420 Italmobiliare SpA 217,406 1.38

Leisure Time: 1.62% 47,500 Piaggio & C SpA 128,060 0.81 13,773 Technogym SpA 127,262 0.81

ANIMA Funds Plc 678 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Italian Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.37% (2019: 99.58%)

Italy (continued): 91.87%

Machinery - Diversified: 1.00% 3,010 Biesse SpA 56,678 0.36 8,000 Gefran SpA 49,280 0.31 4,234 Piovan SpA 20,662 0.13 2,249 Prima Industrie SpA 31,396 0.20

Machinery Construction & Mining: 1.19% 19,488 Danieli & C Officine Meccaniche SpA Pref 187,085 1.19

Media: 0.33% 34,000 Arnoldo Mondadori Editore SpA 51,340 0.33

Metal Fabricate/Hardware: 0.79% 7,394 SAES Getters SpA Pref 123,849 0.79

Oil & Gas: 0.22% 4,000 Eni SpA 34,192 0.22

Packaging & Containers: 0.16% 1,894 Zignago Vetro SpA 25,910 0.16

Pharmaceuticals: 1.37% 3,292 Enervit SpA 11,061 0.07 9,192 Fine Foods & Pharmaceuticals NTM 96,516 0.61 2,900 Pharmanutra SpA 109,040 0.69

Real Estate: 1.22% 29,200 Tecma Solutions SpA 192,720 1.22

Retail: 0.52% 6,000 UniCredit SpA 82,560 0.52

Software: 0.98% 9,647 Piteco SpA 90,875 0.58 3,000 Tinexta SpA 63,000 0.40

Telecommunications: 5.82% 1,268 Intred SpA 12,173 0.08 40,000 Planetel SPA 187,160 1.19 1,693,594 Telecom Italia SpA Pref 717,745 4.55

Textiles: 0.48% 11,321 Ratti SpA 42,567 0.27 19,225 Vincenzo Zucchi SpA 33,413 0.21

Transportation: 0.07% 18,852 FNM SpA 10,746 0.07

Total Italy 14,480,235 91.87

ANIMA Funds Plc 679 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Italian Equity (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 98.37% (2019: 99.58%)

Netherlands: 0.89%

Automobile Manufacturers: 0.41% 4,400 Fiat Chrysler Automobiles NV 64,504 0.41

Investment Companies: 0.48% 1,150 EXOR NV 76,153 0.48

Total Netherlands 140,657 0.89

Switzerland: 0.43%

Pharmaceuticals: 0.43% 235 Roche Holding AG 67,139 0.43

Total Switzerland 67,139 0.43

United Kingdom: 0.64%

Pharmaceuticals: 0.64% 1,230 AstraZeneca Plc 100,643 0.64

Total United Kingdom 100,643 0.64

Total Equities 15,504,627 98.37

Investment Funds: 0.28% (2019:0.09%)

Switzerland: 0.28% 650 BB Biotech AG 44,525 0.28

Total Switzerland 44,525 0.28

Total Investment Funds 44,525 0.28

Total Value of Investments (Cost: EUR 14,143,272) 15,549,152 98.65

Cash and Cash Equivalents 325,379 2.06

Other Net Liabilities (112,225) (0.71)

Net Assets Attributable to Holders of Redeemable Participating Shares 15,762,306 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 97.13 Other Assets 2.87

100.00

ANIMA Funds Plc 680 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA High Yield Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 0.02% (2019: 0.00%)

Italy: 0.02%

Construction & Engineering: 0.02% 12,776 Astaldi SpA 3,775 0.02 102,258 Astaldi SpA -0.00

Total Italy 3,775 0.02

Total Equities 3,775 0.02

Bonds: 86.26% (2019: 87.62%)

Austria: 0.53%

Corporate Bonds: 0.53% 100,000 ams AG 6.00% 31/07/2025 105,855 0.53

Total Austria 105,855 0.53

Czech Republic: 0.48%

Corporate Bonds: 0.48% 100,000 Sazka Group AS 3.88% 15/02/2027 96,000 0.48

Total Czech Republic 96,000 0.48

France: 11.11%

Corporate Bonds: 11.11% 100,000 Accor SA FRN 31/12/2099 92,500 0.46 100,000 Altice France SA 5.88% 01/02/2027 106,385 0.53 100,000 AXA SA FRN 29/12/2049 78,330 0.39 100,000 Banque Federative du Credit Mutuel SA FRN 28/02/2049 88,980 0.44 100,000 Banque Federative du Credit Mutuel SA FRN 29/12/2049 89,178 0.44 100,000 Casino Guichard Perrachon SA 4.50% 07/03/2024 97,275 0.48 200,000 Casino Guichard Perrachon SA 6.63% 15/01/2026 201,500 1.00 100,000 CMA CGM SA 7.50% 05/01/2026 107,000 0.53 100,000 Credit Agricole SA FRN 29/12/2049 92,221 0.46 100,000 Crown European Holdings SA 2.88% 01/02/2026 107,063 0.53 100,000 Electricite de France SA FRN 22/01/2049 114,750 0.57 200,000 Electricite de France SA FRN 22/07/2049 259,023 1.29 200,000 La Banque Postale SA FRN 31/12/2099 204,000 1.02 100,000 La Financiere Atalian SA 4.00% 15/05/2024 92,130 0.46 100,000 La Mondiale SAM FRN 31/12/2099 108,125 0.54 100,000 Loxam SAS 2.88% 15/04/2026 98,450 0.49 200,000 Renault SA 2.38% 25/05/2026 202,250 1.01 100,000 Renault SA 1.13% 04/10/2027 93,700 0.47

Total France 2,232,860 11.11

ANIMA Funds Plc 681 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA High Yield Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 86.26% (2019: 87.62%)

Germany: 9.15%

Corporate Bonds: 9.15% 200,000 Allianz SE FRN 31/12/2099 205,640 1.02 200,000 Allianz SE FRN 31/12/2099 166,523 0.83 100,000 Bayer AG FRN 12/11/2079 104,875 0.52 100,000 Bilfinger SE 5.75% 14/06/2024 104,404 0.52 100,000 Commerzbank AG FRN 05/12/2030 109,183 0.54 200,000 Deutsche Bank AG FRN 29/05/2049 154,920 0.77 200,000 Deutsche Bank AG FRN 29/12/2049 199,121 0.99 100,000 KME SE 6.75% 01/02/2023 80,000 0.40 100,000 Techem Verwaltungsgesellschaft 674 mbH 6.00% 30/07/2026 104,760 0.52 100,000 Techem Verwaltungsgesellschaft 675 mbH 2.00% 15/07/2025 99,320 0.50 100,000 Tele Columbus AG 3.88% 02/05/2025 100,180 0.50 100,000 Vertical Midco GmbH 4.38% 05/07/2027 105,225 0.52 300,000 ZF Finance GmbH 2.75% 25/05/2027 304,875 1.52

Total Germany 1,839,026 9.15

Ireland: 0.50%

Corporate Bonds: 0.50% 100,000 Ardagh Packaging Finance Plc / Ardagh Holdings USA Inc 2.13% 100,100 0.50 15/08/2026

Total Ireland 100,100 0.50

Isle of Man: 0.50%

Corporate Bonds: 0.50% 100,000 Playtech Plc 3.75% 12/10/2023 101,300 0.50

Total Isle of Man 101,300 0.50

Italy: 15.94%

Corporate Bonds: 15.94% 100,000 Atlantia SpA 1.63% 03/02/2025 99,304 0.49 100,000 Atlantia SpA 1.88% 13/07/2027 98,368 0.49 150,000 Autostrade per l’Italia SpA 2.00% 04/12/2028 150,375 0.75 100,000 Autostrade per l’Italia SpA 1.88% 26/09/2029 98,750 0.49 100,000 Banca Monte dei Paschi di Siena SpA 3.63% 24/09/2024 105,289 0.52 100,000 Banca Monte dei Paschi di Siena SpA 1.88% 09/01/2026 99,051 0.49 100,000 Banca Monte dei Paschi di Siena SpA 10.50% 23/07/2029 122,600 0.61 100,000 Banca Popolare di Sondrio SCPA FRN 30/07/2029 102,002 0.51 100,000 Banco BPM SpA FRN 01/10/2029 103,832 0.52 100,000 Banco BPM SpA FRN 14/09/2030 107,254 0.53 100,000 Banco BPM SpA FRN 14/01/2031 99,175 0.49 200,000 Banco BPM SpA FRN 31/12/2099 216,100 1.08 100,000 BPER Banca FRN 30/11/2030 102,000 0.51 100,000 Centurion Bidco SpA 5.88% 30/09/2026 102,875 0.51

ANIMA Funds Plc 682 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA High Yield Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 86.26% (2019: 87.62%)

Italy (continued): 15.94%

Corporate Bonds (continued): 15.94% 100,000 doValue SpA 5.00% 04/08/2025 104,200 0.52 100,000 International Design Group SpA 6.50% 15/11/2025 103,558 0.52 250,000 Intesa Sanpaolo SpA FRN 31/12/2099 236,688 1.18 200,000 Intesa Sanpaolo Vita SpA FRN 31/12/2049 218,200 1.09 100,000 Pro-Gest SpA 3.25% 05/12/2024 93,495 0.47 100,000 Sisal Pay SpA FRN 17/12/2026 99,700 0.50 100,000 Societa Cattolica di Assicurazioni SC FRN 14/12/2047 106,052 0.53 100,000 Sofima Holding SPA 3.75% 05/01/2028 101,390 0.50 200,000 UniCredit SpA FRN 31/12/2099 231,750 1.15 100,000 Unione di Banche Italiane SpA FRN 15/09/2027 105,000 0.52 100,000 Webuild SpA 1.75% 06/10/2024 92,052 0.46 100,000 Webuild SpA 5.88% 15/12/2025 103,000 0.51

Total Italy 3,202,060 15.94

Japan: 1.59%

Corporate Bonds: 1.59% 100,000 SoftBank Group Corp 3.13% 19/09/2025 102,460 0.51 100,000 SoftBank Group Corp 5.00% 15/04/2028 111,350 0.55 100,000 SoftBank Group Corp 4.00% 19/09/2029 105,928 0.53

Total Japan 319,738 1.59

Jersey, Channel Islands: 1.66%

Corporate Bonds: 1.66% 100,000 Avis Budget Finance Plc 4.50% 15/05/2025 97,500 0.49 100,000 Avis Budget Finance Plc 4.75% 30/01/2026 97,450 0.48 100,000 HSBC Capital Funding Dollar 1 LP FRN 29/12/2049 139,553 0.69

Total Jersey, Channel Islands 334,503 1.66

Luxembourg: 6.78%

Corporate Bonds: 6.78% 100,000 ADLER Group SA 3.25% 05/08/2025 104,090 0.52 100,000 Altice Financing SA 3.00% 15/01/2028 96,143 0.48 100,000 Altice France Holding SA 4.00% 15/02/2028 95,000 0.47 100,000 ARD Finance SA 5.00% 30/06/2027 101,790 0.51 100,000 ContourGlobal Power Holdings SA 2.75% 01/01/2026 99,292 0.50 100,000 ContourGlobal Power Holdings SA 3.13% 01/01/2028 100,445 0.50 100,000 CPI Property Group SA FRN 31/12/2099 104,490 0.52 100,000 Lincoln Financing SARL 3.63% 01/04/2024 100,950 0.50 200,000 Mitsubishi UFJ Investor Services & Banking Luxembourg SA FRN 101,072 0.50 15/12/2050 100,000 Rossini Sarl 6.75% 30/10/2025 106,500 0.53 100,000 SES SA FRN 29/12/2049 109,713 0.55

ANIMA Funds Plc 683 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA High Yield Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 86.26% (2019: 87.62%)

Luxembourg (continued): 6.78%

Corporate Bonds (continued): 6.78% 90,105 Summer BC Holdco A Sarl 9.25% 01/10/2027 95,043 0.47 100,000 Telecom Italia Finance SA 7.75% 24/01/2033 147,042 0.73

Total Luxembourg 1,361,570 6.78

Mexico: 2.52%

Corporate Bonds: 2.52% 100,000 Petroleos Mexicanos 5.13% 15/03/2023 103,884 0.52 400,000 Petroleos Mexicanos 4.75% 26/02/2029 402,540 2.00

Total Mexico 506,424 2.52

Netherlands: 12.85%

Corporate Bonds: 12.85% 100,000 Aegon NV FRN 29/07/2049 78,975 0.39 100,000 Dufry One BV 2.50% 15/10/2024 95,740 0.48 200,000 Fiat Chrysler Automobiles NV 4.50% 07/07/2028 244,000 1.21 100,000 Intertrust Group BV 3.38% 15/11/2025 101,977 0.51 200,000 NIBC Bank NV FRN 31/12/2099 200,629 1.00 100,000 OCI NV 3.13% 01/11/2024 102,750 0.51 100,000 Repsol International Finance BV FRN 25/03/2075 109,591 0.55 200,000 Saipem Finance International BV 3.38% 15/07/2026 208,412 1.04 100,000 Sigma Holdco BV 5.75% 15/05/2026 98,500 0.49 104,875 Summer BidCo BV 9.00% 05/11/2025 108,126 0.54 100,000 Telefonica Europe BV FRN 31/03/2049 112,375 0.56 100,000 Telefonica Europe BV FRN 31/12/2099 107,750 0.54 100,000 Teva Pharmaceutical Finance Netherlands II BV 1.13% 15/10/2024 92,678 0.46 100,000 Teva Pharmaceutical Finance Netherlands II BV 6.00% 31/01/2025 108,500 0.54 100,000 Teva Pharmaceutical Finance Netherlands II BV 4.50% 01/03/2025 103,250 0.51 100,000 United Group BV 3.63% 15/02/2028 97,750 0.49 200,000 UPC Holding BV 3.88% 15/06/2029 205,000 1.02 100,000 Volkswagen International Finance NV FRN 29/12/2049 105,525 0.52 200,000 VZ Vendor Financing II BV 2.88% 15/01/2029 198,900 0.99 100,000 Ziggo Bond Co BV 3.38% 28/02/2030 100,475 0.50

Total Netherlands 2,580,903 12.85

Norway: 1.21%

Corporate Bonds: 1.21% 100,000 Adevinta ASA 3.00% 15/11/2027 103,340 0.52 200,000 DNB Bank ASA FRN 29/11/2049 139,329 0.69

Total Norway 242,669 1.21

ANIMA Funds Plc 684 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA High Yield Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 86.26% (2019: 87.62%)

Panama: 0.99%

Corporate Bonds: 0.99% 100,000 Carnival Corp 1.88% 07/11/2022 94,125 0.47 100,000 Carnival Corp 7.63% 01/03/2026 105,790 0.52

Total Panama 199,915 0.99

Portugal: 2.19%

Corporate Bonds: 2.19% 200,000 Caixa Geral de Depositos SA FRN 31/12/2099 219,625 1.10 200,000 EDP - Energias de Portugal SA FRN 30/04/2079 219,400 1.09

Total Portugal 439,025 2.19

Spain: 6.03%

Corporate Bonds: 6.03% 200,000 Banco Bilbao Vizcaya Argentaria SA FRN 31/12/2099 208,950 1.04 200,000 Banco de Sabadell SA FRN 31/12/2099 196,550 0.98 200,000 Banco de Sabadell SA FRN 31/12/2099 198,000 0.99 200,000 Banco Santander SA FRN 31/12/2099 199,900 0.99 100,000 El Corte Ingles SA 3.63% 15/03/2024 104,054 0.52 100,000 Grupo Antolin-Irausa SA 3.38% 30/04/2026 96,440 0.48 200,000 Ibercaja Banco SA FRN 31/12/2099 206,900 1.03

Total Spain 1,210,794 6.03

Sweden: 2.00%

Corporate Bonds: 2.00% 100,000 Heimstaden Bostad AB FRN 31/12/2099 102,750 0.51 200,000 Intrum AB 3.50% 15/07/2026 198,000 0.99 100,000 Verisure Midholding AB 5.75% 01/12/2023 101,050 0.50

Total Sweden 401,800 2.00

United Kingdom: 6.05%

Corporate Bonds: 6.05% 100,000 Algeco Global Finance Plc 6.50% 15/02/2023 101,246 0.50 200,000 Barclays Plc FRN 31/12/2099 175,718 0.88 100,000 BP Capital Markets Plc FRN 31/12/2099 109,250 0.54 100,000 eG Global Finance Plc 6.25% 30/10/2025 102,690 0.51 100,000 International Game Technology Plc 2.38% 15/04/2028 99,207 0.49 100,000 International Personal Finance Plc 9.75% 02/11/2025 96,950 0.48 100,000 Jaguar Land Rover Automative Plc 6.88% 15/11/2026 102,330 0.51 100,000 Jerrold Finco Plc 4.88% 15/01/2026 110,357 0.55 200,000 Rolls-Royce Plc 4.63% 16/02/2026 216,000 1.08

ANIMA Funds Plc 685 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA High Yield Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 86.26% (2019: 87.62%)

United Kingdom (continued): 6.05%

Corporate Bonds (continued): 6.05% 100,000 Vodafone Group Plc FRN 04/04/2079 101,710 0.51

Total United Kingdom 1,215,458 6.05

United States: 4.18%

Corporate Bonds: 4.18% 100,000 AT&T Inc FRN 31/12/2099 100,450 0.50 100,000 Avantor Funding Inc 3.88% 15/07/2028 105,000 0.52 100,000 Belden Inc 3.38% 15/07/2027 102,219 0.51 100,000 Catalent Pharma Solutions Inc 2.38% 01/03/2028 100,452 0.50 100,000 Clarios Global LP / Clarios US Finance Co 4.38% 15/05/2026 103,590 0.52 100,000 Ford Motor Credit Co LLC 1.74% 19/07/2024 99,361 0.49 100,000 Netflix Inc 4.63% 15/05/2029 120,825 0.60 100,000 Refinitiv US Holdings Inc 6.88% 15/11/2026 108,156 0.54

Total United States 840,053 4.18

Total Bonds 17,330,053 86.26

Forward Currency Contracts: 0.07% (2019: (0.13%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Credit EUR 457,339 USD 550,000 12/01/2021 7,912 0.04 Agricole Morgan EUR 145,377 GBP 130,000 12/01/2021 158 0.00 Stanley Morgan EUR 417,301 USD 500,000 12/01/2021 8,730 0.04 Stanley

Total Fair Value Gains on Forward Currency Contracts 16,800 0.08

Morgan EUR 220,738 GBP 200,000 12/01/2021 (2,676) (0.01) Stanley

Total Fair Value Losses on Forward Currency Contracts (2,676) (0.01)

Total Forward Currency Contracts 14,124 0.07

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 16,988,602) 17,347,952 86.35

Cash and Cash Equivalents 2,536,092 12.62

Other Net Assets 206,415 1.03

Net Assets Attributable to Holders of Redeemable Participating Shares 20,090,459 100.00

ANIMA Funds Plc 686 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA High Yield Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 86.20 Over the counter financial derivative instruments 0.08 Other Assets 13.72

100.00

ANIMA Funds Plc 687 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Bond 2022 Opportunities

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 94.10% (2019: 85.43%)

Austria: 0.88%

Corporate Bonds: 0.88% 400,000 Erste Group Bank AG FRN 29/12/2049 424,500 0.88

Total Austria 424,500 0.88

Brazil: 1.32%

Corporate Bonds: 1.32% 600,000 Vale SA 3.75% 10/01/2023 637,931 1.32

Total Brazil 637,931 1.32

Bulgaria: 1.48%

Corporate Bonds: 1.48% 700,000 Bulgarian Energy Holding EAD 4.88% 02/08/2021 715,571 1.48

Total Bulgaria 715,571 1.48

Canada: 1.12%

Corporate Bonds: 1.12% 550,000 Bombardier Inc 6.13% 15/05/2021 543,136 1.12

Total Canada 543,136 1.12

Denmark: 0.86%

Corporate Bonds: 0.86% 400,000 TDC A/S 5.00% 02/03/2022 419,330 0.86

Total Denmark 419,330 0.86

France: 4.99%

Corporate Bonds: 4.99% 188,572 3AB Optique Developpement SAS FRN 01/10/2023 188,113 0.39 900,000 Casino Guichard Perrachon SA 1.87% 13/06/2022 909,000 1.88 200,000 Casino Guichard Perrachon SA 4.56% 25/01/2023 208,150 0.43 300,000 Loxam SAS 3.50% 15/04/2022 302,250 0.62 600,000 Societe Generale SA FRN 04/07/2049 607,202 1.25 300,000 Vallourec SA 6.63% 15/10/2022 205,500 0.42

Total France 2,420,215 4.99

ANIMA Funds Plc 688 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Bond 2022 Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.10% (2019: 85.43%)

Germany: 10.29%

Corporate Bonds: 10.29% 300,000 ADLER Real Estate AG 1.50% 06/12/2021 300,000 0.62 1,000,000 ADLER Real Estate AG 1.50% 17/04/2022 996,620 2.05 500,000 Commerzbank AG 7.75% 16/03/2021 506,939 1.05 300,000 Douglas GmbH 6.25% 15/07/2022 268,794 0.55 300,000 K&S AG 4.13% 06/12/2021 305,475 0.63 1,100,000 Schaeffler AG 1.13% 26/03/2022 1,108,250 2.28 1,100,000 Thyssenkrupp AG 1.38% 03/03/2022 1,094,856 2.26 400,000 Volkswagen Leasing GmbH 2.13% 04/04/2022 411,156 0.85

Total Germany 4,992,090 10.29

Greece: 1.50%

Corporate Bonds: 1.50% 700,000 Alpha Bank AE 2.50% 05/02/2023 729,811 1.50

Total Greece 729,811 1.50

Ireland: 2.44%

Corporate Bonds: 2.44% 1,000,000 Bank of Ireland 10.00% 19/12/2022 1,181,000 2.44

Total Ireland 1,181,000 2.44

Italy: 41.00%

Corporate Bonds: 41.00% 350,000 Almaviva-The Italian Innovation Co SpA 7.25% 15/10/2022 356,125 0.74 600,000 Autostrade per l’Italia SpA 2.88% 26/02/2021 598,769 1.24 800,000 Autostrade per l’Italia SpA 1.13% 04/11/2021 791,040 1.63 500,000 Autostrade per l’Italia SpA 6.25% 09/06/2022 589,569 1.22 500,000 Azimut Holding SpA 2.00% 08/03/2022 508,540 1.05 1,600,000 Banca Monte dei Paschi di Siena SpA 4.00% 10/07/2022 1,656,280 3.42 900,000 Banco BPM SpA 7.13% 01/03/2021 907,949 1.87 600,000 Banco BPM SpA 6.38% 31/05/2021 611,910 1.26 1,000,000 CDP Reti SpA 1.88% 29/05/2022 1,018,460 2.10 1,800,000 Credito Valtellinese SpA 2.00% 27/11/2022 1,842,593 3.80 500,000 FCA Bank SpA 0.63% 24/11/2022 505,300 1.04 500,000 Iccrea Banca SpA 1.50% 11/10/2022 503,750 1.04 382,933 Inter Media and Communication SpA 4.88% 31/12/2022 380,023 0.78 800,000 Intesa Sanpaolo SpA FRN 29/12/2049 801,000 1.65 400,000 Leonardo SpA 5.25% 21/01/2022 418,574 0.86 300,000 Marcolin SpA FRN 15/02/2023 277,500 0.57 500,000 Mediobanca Banca di Credito Finanziario SpA FRN 04/03/2022 405,589 0.84 350,000 Rekeep SpA 9.00% 15/06/2022 358,750 0.74 1,000,000 Telecom Italia SpA 5.25% 10/02/2022 1,057,500 2.18 1,000,000 Telecom Italia SpA 3.25% 16/01/2023 1,053,640 2.17

ANIMA Funds Plc 689 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Bond 2022 Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.10% (2019: 85.43%)

Italy (continued): 41.00%

Corporate Bonds (continued): 41.00% 1,050,000 UniCredit SpA 6.57% 14/01/2022 904,342 1.87 1,000,000 UniCredit SpA 6.95% 31/10/2022 1,112,416 2.29 1,000,000 UniCredit SpA 1.00% 18/01/2023 1,019,008 2.10 1,100,000 UniCredit SpA FRN 29/12/2049 1,204,500 2.48 1,000,000 UnipolSai Assicurazioni SpA FRN 15/06/2021 999,272 2.06

Total Italy 19,882,399 41.00

Japan: 0.53%

Corporate Bonds: 0.53% 300,000 SoftBank Group Corp 5.38% 30/07/2022 254,996 0.53

Total Japan 254,996 0.53

Luxembourg: 4.29%

Corporate Bonds: 4.29% 100,000 Codere Finance 2 Luxembourg SA 10.75% 01/11/2023 65,200 0.14 500,000 Fiat Chrysler Finance Europe SENC 4.75% 22/03/2021 504,790 1.04 1,200,000 Fiat Chrysler Finance Europe SENC 4.75% 15/07/2022 1,279,500 2.64 243,000 LSF9 Balta Issuer SARL 7.75% 15/09/2022 229,887 0.47

Total Luxembourg 2,079,377 4.29

Mexico: 2.87%

Corporate Bonds: 2.87% 1,400,000 Petroleos Mexicanos 2.50% 24/11/2022 1,391,460 2.87

Total Mexico 1,391,460 2.87

Netherlands: 4.80%

Corporate Bonds: 4.80% 500,000 CBR Fashion Finance BV 5.13% 01/10/2022 495,500 1.02 800,000 Saipem Finance International BV 2.75% 05/04/2022 820,000 1.69 1,000,000 Teva Pharmaceutical Finance Netherlands II BV 3.25% 15/04/2022 1,012,500 2.09

Total Netherlands 2,328,000 4.80

Panama: 0.58%

Corporate Bonds: 0.58% 300,000 Carnival Corp 1.88% 07/11/2022 282,375 0.58

Total Panama 282,375 0.58

ANIMA Funds Plc 690 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Bond 2022 Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 94.10% (2019: 85.43%)

Romania: 1.03%

Corporate Bonds: 1.03% 500,000 UniCredit Leasing Corp IFN SA 0.50% 18/10/2022 501,911 1.03

Total Romania 501,911 1.03

Sweden: 1.81%

Corporate Bonds: 1.81% 170,000 Intrum AB 2.75% 15/07/2022 169,993 0.35 700,000 Volvo Car AB 3.25% 18/05/2021 707,840 1.46

Total Sweden 877,833 1.81

United Kingdom: 7.15%

Corporate Bonds: 7.15% 800,000 Algeco Global Finance Plc 6.50% 15/02/2023 809,968 1.67 642,735 EnQuest Plc 7.00% 15/10/2023 346,806 0.71 300,000 FCE Bank Plc 1.66% 11/02/2021 300,000 0.62 500,000 FCE Bank Plc 1.88% 24/06/2021 500,000 1.03 500,000 National Westminster Bank Plc 6.50% 07/09/2021 580,184 1.20 700,000 Rolls-Royce Plc 2.13% 18/06/2021 701,750 1.45 200,000 Very Group Funding Plc 7.75% 15/11/2022 226,255 0.47

Total United Kingdom 3,464,963 7.15

United States: 5.16%

Corporate Bonds: 5.16% 1,800,000 Ford Motor Credit Co LLC 5.88% 02/08/2021 1,505,701 3.10 500,000 General Motors Financial Co Inc FRN 10/05/2021 500,090 1.03 500,000 General Motors Financial Co Inc FRN 26/03/2022 498,635 1.03

Total United States 2,504,426 5.16

Total Bonds 45,631,324 94.10

Forward Currency Contracts: 0.10% (2019: (0.01%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Credit EUR 2,343,149 USD 2,800,000 12/01/2021 55,156 0.11 Agricole Unicredit EUR 614,490 GBP 550,000 12/01/2021 101 0.00 Bank

ANIMA Funds Plc 691 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Bond 2022 Opportunities (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Forward Currency Contracts (continued): 0.10% (2019: (0.01%)) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Unicredit EUR 335,582 USD 400,000 12/01/2021 8,726 0.02 Bank

Total Fair Value Gains on Forward Currency Contracts 63,983 0.13

Unicredit EUR 1,045,634 GBP 950,000 12/01/2021 (15,585) (0.03) Bank Unicredit EUR 1,143,702 USD 1,400,000 12/01/2021 (294) (0.00) Bank

Total Fair Value Losses on Forward Currency Contracts (15,879) (0.03)

Total Forward Currency Contracts 48,104 0.10

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 45,711,000) 45,679,428 94.20

Cash and Cash Equivalents 2,080,362 4.29

Other Net Assets 734,309 1.51

Net Assets Attributable to Holders of Redeemable Participating Shares 48,494,099 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 94.00 Over the counter financial derivative instruments 0.13 Other Assets 5.87

100.00

ANIMA Funds Plc 692 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Macro

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 72.88% (2019: 83.30%)

Australia: 4.57%

Government Bonds: 4.57% 5,878,000 Australia Government Bond 0.75% 21/11/2027 4,389,591 2.06 7,635,000 Australia Government Bond 2.25% 21/05/2028 5,358,945 2.51

Total Australia 9,748,536 4.57

Canada: 1.05%

Government Bonds: 1.05% 1,659,000 Canadian Government Real Return Bond 3.00% 01/12/2036 2,231,818 1.05

Total Canada 2,231,818 1.05

France: 7.53%

Government Bonds: 7.53% 7,392,000 France Government Bond OAT 0.10% 01/03/2025 8,087,708 3.79 3,909,000 France Government Bond OAT 1.85% 25/07/2027 5,360,956 2.51 1,210,000 France Government Bond OAT 0.75% 25/05/2028 1,325,979 0.62 1,176,000 French Republic Government Bond OAT 0.75% 25/11/2028 1,293,795 0.61

Total France 16,068,438 7.53

Germany: 5.48%

Government Bonds: 5.48% 1,502,000 Bundesrepublik Deutschland Bundesanleihe 0.50% 15/02/2028 1,633,230 0.77 5,565,000 Deutsche Bundesrepublik Inflation Linked Bond 0.10% 15/04/2026 6,362,118 2.98 2,916,000 Deutsche Bundesrepublik Inflation Linked Bond 0.50% 15/04/2030 3,696,164 1.73

Total Germany 11,691,512 5.48

Italy: 6.82%

Government Bonds: 6.82% 4,733,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 6,383,196 2.99 1,585,000 Italy Buoni Poliennali Del Tesoro 2.00% 01/02/2028 1,782,006 0.84 4,140,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 4,846,245 2.27 1,153,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2028 1,540,535 0.72

Total Italy 14,551,982 6.82

Japan: 3.85%

Government Bonds: 3.85% 547,100,000 Japanese Government CPI Linked Bond 0.10% 10/03/2028 4,365,839 2.05

ANIMA Funds Plc 693 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Macro (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 72.88% (2019: 83.30%)

Japan (continued): 3.85%

Government Bonds (continued): 3.85% 484,200,000 Japanese Government CPI Linked Bond 0.10% 10/03/2029 3,844,863 1.80

Total Japan 8,210,702 3.85

Netherlands: 0.60%

Government Bonds: 0.60% 1,205,000 Netherlands Government Bond 0.25% 15/07/2029 1,289,593 0.60

Total Netherlands 1,289,593 0.60

Spain: 12.68%

Government Bonds: 12.68% 6,204,000 Spain Government Bond 1.40% 30/07/2028 6,948,951 3.26 5,643,000 Spain Government Bond 1.45% 30/04/2029 6,374,248 2.99 7,409,000 Spain Government Inflation Linked Bond 1.80% 30/11/2024 8,737,571 4.10 4,246,000 Spain Government Inflation Linked Bond 0.65% 30/11/2027 4,983,237 2.33

Total Spain 27,044,007 12.68

United Kingdom: 4.85%

Government Bonds: 4.85% 851,000 United Kingdom Gilt 3.50% 22/01/2045 1,533,154 0.72 3,311,000 United Kingdom Gilt Inflation Linked 0.13% 22/03/2026 4,938,849 2.31 1,727,000 United Kingdom Gilt Inflation Linked 1.25% 22/11/2027 3,876,980 1.82

Total United Kingdom 10,348,983 4.85

United States: 25.45%

Government Bonds: 25.45% 8,328,000 United States Treasury Inflation Indexed Bonds 0.13% 15/07/2026 8,128,686 3.81 6,124,000 United States Treasury Inflation Indexed Bonds 0.38% 15/01/2027 6,018,562 2.82 11,362,000 United States Treasury Inflation Indexed Bonds 0.38% 15/07/2027 11,116,821 5.21 8,617,000 United States Treasury Inflation Indexed Bonds 1.75% 15/01/2028 10,732,893 5.03 12,413,000 United States Treasury Inflation Indexed Bonds 0.75% 15/07/2028 12,234,505 5.74 4,644,000 United States Treasury Inflation Indexed Bonds 2.50% 15/01/2029 6,044,366 2.84

Total United States 54,275,833 25.45

Total Bonds 155,461,404 72.88

ANIMA Funds Plc 694 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Macro (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Investment Funds: 11.08% (2019: 5.57%)

Ireland: 6.31% 24,495 iShares JP Morgan EM Local Government Bond UCITS ETF 1,206,983 0.56 56,200 UBS ETFs Plc - CMCI Composite SF UCITS ETF 2,979,604 1.40 125,300 Invesco Bloomberg Commodity UCITS ETF 1,679,858 0.79 125,590 iShares Physical Gold ETC 3,794,490 1.78 25,350 Invesco Physical Gold ETC 3,800,791 1.78

Total Ireland 13,461,726 6.31

Italy: 0.56% 237,760 ANIMA Commodities** 1,195,222 0.56

Total Italy 1,195,222 0.56

Jersey, Channel Islands: 3.04% 589,100 WisdomTree Energy 1,030,823 0.48 64,420 WisdomTree Precious Metals 1,220,955 0.57 40,020 WisdomTree Industrial Metals 427,822 0.20 25,310 Xtrackers Physical Gold ETC 3,803,999 1.79

Total Jersey, Channel Islands 6,483,599 3.04

Switzerland: 1.17% 32,470 UBS ETC linked to the UBS Bloomberg CMCI Composite USD Total Return 2,483,648 1.17 Index

Total Switzerland 2,483,648 1.17

Total Investment Funds 23,624,195 11.08

Futures contracts: 0.61% (2019: (0.17%)) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 2,387,635 389 Bcom Comdty Ind March 2021 89,020 0.04 5,921,372 62 Canadian 10 Years Bond Futures March 2021 8,949 0.00 9,204,000 52 Euro Bund Futures March 2021 33,280 0.02 16,486,177 471 Euro STOXX 50 Futures March 2021 234,323 0.11 10,427,970 69 Euro-BTP Futures March 2021 60,720 0.03 9,361,520 56 Euro-OAT Futures March 2021 38,640 0.02 8,534,041 57 Long Gilt Futures March 2021 97,196 0.05 9,016,845 176 MSCI Emerging Market Index Futures March 2021 248,130 0.12 5,303,763 25 Nikkei 225 Futures March 2021 126,657 0.06 15,231,017 102 S&P 500 E Mini Futures March 2021 394,728 0.18 3,660,467 26 TOPIX Index Futures March 2021 53,513 0.02 37,619,416 334 U.S. 10 Years Note Futures March 2021 72,626 0.03

Total Fair Value Gains on Open Futures Contracts 1,457,782 0.68

3,627,826 50 FSTE 100 Index Futures March 2021 (41,616) (0.02)

ANIMA Funds Plc 695 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Macro (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Futures contracts: 0.61% (2019: (0.17%)) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 16,846,486 14 Japan 10 Years Bond Futures March 2021 (9,974) (0.00) 2,932,312 22 S&P/TSX 60 Index Futures March 2021 (28,058) (0.01) 1,770,356 17 SPI 200 Futures March 2021 (18,226) (0.01) 26,002,947 203 U.S. 10 Years Ultra Futures March 2021 (61,256) (0.03)

Total Fair Value Losses on Open Futures Contracts (159,130) (0.07)

Total Futures Contracts 1,298,652 0.61

Forward Currency Contracts: 0.48% (2019: 0.05%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets J.P. Morgan AUD 700,000 EUR 428,394 26/02/2021 12,744 0.01 J.P. Morgan EUR 1,164,729 CAD 1,800,000 26/02/2021 11,197 0.00 J.P. Morgan EUR 16,280,320 JPY 2,000,000,000 26/02/2021 458,140 0.22 J.P. Morgan EUR 17,286,748 USD 20,500,000 26/02/2021 552,394 0.26 Morgan AUD 2,300,000 EUR 1,400,085 26/02/2021 49,370 0.02 Stanley Morgan EUR 13,129,862 JPY 1,621,400,000 26/02/2021 302,821 0.14 Stanley Morgan EUR 15,264,343 USD 18,100,000 26/02/2021 489,133 0.23 Stanley Morgan GBP 2,400,000 EUR 2,668,692 26/02/2021 10,284 0.01 Stanley Nomura CAD 3,700,000 EUR 2,368,576 26/02/2021 2,574 0.00 Nomura EUR 48,035,712 USD 58,000,000 26/02/2021 689,736 0.32

Total Fair Value Gains on Forward Currency Contracts 2,578,393 1.21

J.P. Morgan EUR 8,376,201 AUD 13,700,000 26/02/2021 (257,505) (0.12) J.P. Morgan EUR 1,986,422 GBP 1,800,000 26/02/2021 (22,810) (0.01) Morgan EUR 1,223,201 AUD 2,000,000 26/02/2021 (37,194) (0.02) Stanley Morgan EUR 8,636,352 CAD 13,500,000 26/02/2021 (15,140) (0.01) Stanley Nomura EUR 3,187,347 AUD 5,300,000 26/02/2021 (152,700) (0.07) Nomura EUR 11,985,925 GBP 10,900,000 26/02/2021 (181,092) (0.08) Nomura JPY 740,000,000 EUR 5,954,488 26/02/2021 (100,282) (0.05) Nomura USD 22,000,000 EUR 18,749,734 26/02/2021 (790,915) (0.37)

Total Fair Value Losses on Forward Currency Contracts (1,557,638) (0.73)

Total Forward Currency Contracts 1,020,755 0.48

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 178,875,204) 181,405,006 85.05

ANIMA Funds Plc 696 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Global Macro (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents and Due From Broker 26,328,248 12.34

Other Net Assets 5,563,708 2.61

Net Assets Attributable to Holders of Redeemable Participating Shares 213,296,962 100.00

** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 72.00 UCITS and non-UCITS Investment Funds 10.94 Financial derivative instruments dealt in on a regulated market 0.67 Over the counter financial derivative instruments 1.19 Other Assets 15.20

100.00

ANIMA Funds Plc 697 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-I

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities: 107.08% (2019: 114.69%)

Belgium: 0.39%

Chemicals: 0.39% 1,083 Solvay SA 105,614 0.39

Total Belgium 105,614 0.39

France: 59.34%

Advertising: 0.45% 2,989 Publicis Groupe SA 123,206 0.45

Apparel Retail: 8.50% 1,108 Kering SA 651,504 2.38 3,266 LVMH Moet Hennessy Louis Vuitton SE 1,675,784 6.12

Auto Components: 1.44% 2,655 Cie Generale des Etablissements Michelin SCA 281,563 1.03 3,488 Valeo SA 113,255 0.41

Automobile Manufacturers: 0.93% 7,184 Peugeot SA 161,065 0.59 2,639 Renault SA 94,859 0.34

Banks: 4.56% 19,568 BNP Paribas SA 847,392 3.10 16,596 Credit Agricole SA 172,018 0.63 13,442 Societe Generale SA 228,272 0.83

Beverages: 1.83% 3,129 Pernod Ricard SA 500,953 1.83

Building Products: 1.21% 8,701 Cie de Saint-Gobain 330,899 1.21

Chemicals: 3.65% 7,390 Air Liquide SA 999,867 3.65

Computers & Peripherals: 1.13% 2,407 Capgemini SE 308,698 1.13

Construction & Engineering: 3.19% 3,023 Bouygues SA 102,661 0.37 9,290 Vinci SA 771,256 2.82

Cosmetics & Personal Care: 4.98% 4,353 L’Oreal SA 1,363,360 4.98

Electical Components & Equipment: 5.18% 3,927 Legrand SA 289,577 1.06 9,340 Schneider Electric SE 1,128,739 4.12

ANIMA Funds Plc 698 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 107.08% (2019: 114.69%)

France (continued): 59.34%

Food: 2.79% 7,879 Carrefour SA 112,237 0.41 10,263 Danone SA 556,665 2.03 1,352 Sodexo SA 94,748 0.35

Healthcare Products: 1.71% 3,626 EssilorLuxottica SA 467,210 1.71

Insurance: 2.45% 34,045 AXA SA 669,869 2.45

Lodging: 0.27% 2,501 Accor SA 74,905 0.27

Media: 1.63% 16,899 Vivendi SA 446,134 1.63

Oil & Gas: 5.29% 40,650 Total SA 1,446,733 5.29

Pharmaceuticals: 5.78% 20,060 Sanofi 1,581,932 5.78

Real Estate Investment Trust: 0.63% 3,227 Klepierre SA 60,216 0.22 1,721 Unibail-Rodamco-Westfield 111,865 0.41

Telecommunications: 1.22% 33,973 Orange SA 333,071 1.22

Water: 0.52% 7,063 Veolia Environnement SA 142,249 0.52

Total France 16,242,762 59.34

Germany: 6.83%

Apparel Retail: 0.55% 508 adidas AG 151,333 0.55

Automobile Manufacturers: 0.95% 841 Bayerische Motoren Werke AG 60,745 0.22 2,602 Daimler AG 150,370 0.55 329 Volkswagen AG Pref 50,146 0.18

Chemicals: 0.57% 2,405 BASF SE 155,652 0.57

Electric: 0.16% 4,862 E.ON SE 44,069 0.16

ANIMA Funds Plc 699 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 107.08% (2019: 114.69%)

Germany (continued): 6.83%

Healthcare Services: 0.15% 1,065 Fresenius SE & Co KGaA 40,300 0.15

Insurance: 1.50% 1,534 Allianz SE 307,874 1.12 427 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 103,675 0.38

Machinery Construction & Mining: 0.12% 1,123 Siemens Energy AG 33,690 0.12

Miscellaneous Manufacturers: 0.97% 2,247 Siemens AG 264,067 0.97

Software: 1.02% 2,607 SAP SE 279,523 1.02

Telecommunications: 0.46% 8,390 Deutsche Telekom AG 125,472 0.46

Transportation: 0.38% 2,539 Deutsche Post AG 102,830 0.38

Total Germany 1,869,746 6.83

Ireland: 0.28%

Building Products: 0.28% 2,216 CRH Plc 77,183 0.28

Total Ireland 77,183 0.28

Italy: 5.52%

Banks: 0.27% 38,436 Intesa Sanpaolo SpA 73,513 0.27

Diversified Financial Services: 2.08% 32,100 Azimut Holding SpA 570,417 2.08

Electric: 0.62% 20,440 Enel SpA 169,162 0.62

Oil & Gas: 0.21% 6,780 Eni SpA 57,955 0.21

Pharmaceuticals: 2.34% 14,100 Recordati SpA 639,153 2.34

Total Italy 1,510,200 5.52

ANIMA Funds Plc 700 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 107.08% (2019: 114.69%)

Netherlands: 5.13%

Banks: 0.29% 10,432 ING Groep NV 80,472 0.29

Food: 0.29% 3,411 Koninklijke Ahold Delhaize NV 79,715 0.29

Machinery - Diversified: 3.18% 84,400 CNH Industrial NV 871,430 3.18

Semiconductors: 1.37% 937 ASML Holding NV 373,395 1.37

Total Netherlands 1,405,012 5.13

Spain: 28.83%

Banks: 7.48% 198,630 Banco Bilbao Vizcaya Argentaria SA 809,218 2.96 407,892 Banco Santander SA 1,050,322 3.84 49,671 Bankia SA 72,222 0.26 25,841 Bankinter SA 114,372 0.42

Commercial Services & Supplies: 2.68% 12,066 Amadeus IT Group SA 732,648 2.68

Construction & Engineering: 2.83% 1,320 Acciona SA 154,440 0.56 9,046 ACS Actividades de Construccion y Servicios SA 248,041 0.91 2,589 Aena SME SA 372,298 1.36

Electric: 8.20% 12,242 Endesa SA 276,547 1.01 145,111 Iberdrola SA 1,703,603 6.23 15,619 Red Electrica Corp SA 263,883 0.96

Gas: 1.20% 17,296 Naturgy Energy Group SA 329,489 1.20

Media: 0.12% 7,820 Mediaset Espana Comunicacion SA 33,673 0.12

Oil & Gas: 1.34% 44,383 Repsol SA 367,758 1.34

Real Estate Investment Trust: 0.38% 13,443 Merlin Properties Socimi SA 104,183 0.38

ANIMA Funds Plc 701 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Equities (continued): 107.08% (2019: 114.69%)

Spain (continued): 28.83%

Retail: 4.60% 47,687 Industria de Diseno Textil SA 1,258,460 4.60

Total Spain 7,891,157 28.83

United Kingdom: 0.76%

Cosmetics & Personal Care: 0.76% 4,155 Unilever Plc 206,753 0.76

Total United Kingdom 206,753 0.76

Total Equities 29,308,427 107.08

Rights: 0.05%

Spain: 0.05% (2019:0.06%) 44,383 Repsol SA 12,605 0.05

Total Spain 12,605 0.05

Total Rights 12,605 0.05

Swaps: (7.21%) (2019 :14.68%) Notional Amount 16,642,987 Equity Swap (JP Morgan) (512,604) (1.87) (28,362,369) Equity Swap (MPS Capital Services) (1,316,014) (4.81) 11,719,382 Equity Swap (MPS Capital Services) (145,321) (0.53)

Total Fair Value Loss on Swaps with values (1,973,939) (7.21)

Total Swaps (1,973,939) (7.21)

Total Value of Investments (Cost: EUR 28,309,538) 27,347,093 99.92

Cash and Cash Equivalents 68,395 0.25

Other Net Liabilities (45,306) (0.17)

Net Assets Attributable to Holders of Redeemable Participating Shares 27,370,182 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 99.60 Other Assets 0.40

100.00

ANIMA Funds Plc 702 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-II

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 105.50% (2019: 106.64%)

Italy: 102.04%

Government Bonds: 102.04% 25,236,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2022 26,928,273 21.94 7,551,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 7,776,020 6.34 24,348,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 25,591,785 20.85 9,708,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 12,730,394 10.37 21,873,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 25,683,372 20.93 24,722,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 26,515,416 21.61

Total Italy 125,225,260 102.04

Spain: 3.46%

Government Bonds: 3.46% 3,770,000 Spain Government Bond 5.40% 31/01/2023 4,240,496 3.46

Total Spain 4,240,496 3.46

Total Bonds 129,465,756 105.50

Swaps: (6.02%) (2019: (7.32%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (25,236,000) Coupon Swap 0.1% 15/05/2022 (MPS Capital Services) (1,549,491) (1.26) (24,348,000) Coupon Swap 0.1% 19/04/2023 (MPS Capital Services) (1,285,575) (1.05) (7,551,000) Coupon Swap 0.95% 15/03/2023 (MPS Capital Services) (198,591) (0.16) (21,873,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (3,996,197) (3.26) (9,708,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (3,116,268) (2.54) (3,770,000) Coupon Swap 5.4% 31/01/2023 (MPS Capital Services) (627,328) (0.51) 25,353,000 Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) (1,759,498) (1.43)

Total Fair Value Losses on Swaps with values (12,532,948) (10.21)

62,906,266 Equity Swap (JP Morgan) 456,971 0.37 28,665,479 Equity Swap (JP Morgan) 2,427,966 1.98 54,935,251 Equity Swap (MPS Capital Services) 401,027 0.32 21,429,389 Equity Swap (MPS Capital Services) 1,864,357 1.52

Total Fair Value Gains on Swaps with values 5,150,321 4.19

Total Swaps (7,382,627) (6.02)

Total Value of Investments (Cost: EUR 124,445,408) 122,083,129 99.48

Cash and Cash Equivalents 243,214 0.20

Other Net Assets 391,117 0.32

Net Assets Attributable to Holders of Redeemable Participating Shares 122,717,460 100.00

ANIMA Funds Plc 703 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-II (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 95.19 Over the counter financial derivative instruments 3.78 Other Assets 1.03

100.00

ANIMA Funds Plc 704 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-III

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 106.30% (2019: 106.64%)

Italy: 95.39%

Government Bonds: 95.39% 6,996,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 7,353,381 18.97 5,307,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 6,959,230 17.96 6,051,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 7,105,111 18.33 1,000,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 1,348,811 3.48 5,500,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 6,438,988 16.61 7,241,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 7,766,286 20.04

Total Italy 36,971,807 95.39

Spain: 10.91%

Government Bonds: 10.91% 4,134,000 Spain Government Bond 0.35% 30/07/2023 4,229,909 10.91

Total Spain 4,229,909 10.91

Total Bonds 41,201,716 106.30

Swaps: (7.70%) (2019: 7.32%) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (6,996,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (372,887) (0.96) (4,134,000) Coupon Swap 0.35% 30/07/2023 (MPS Capital Services) (58,289) (0.15) (5,500,000) Coupon Swap 1.3% 15/05/2028 (MPS Capital Services) (938,850) (2.42) (6,051,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (1,105,518) (2.85) (5,307,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (1,714,692) (4.43) (1,000,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (354,600) (0.92) (7,241,000) Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) (503,973) (1.30)

Total Fair Value Losses on Swaps with values (5,048,809) (13.03)

36,224,435 Equity Swap (MPS Capital Services) 358,622 0.93 19,947,879 Equity Swap (MPS Capital Services) 1,705,543 4.40

Total Fair Value Gains on Swaps with values 2,064,165 5.33

Total Swaps (2,984,644) (7.70)

Total Value of Investments (Cost: EUR 40,200,217) 38,217,072 98.60

Cash and Cash Equivalents 566,828 1.46

Other Net Liabilities (24,510) (0.06)

Net Assets Attributable to Holders of Redeemable Participating Shares 38,759,390 100.00

ANIMA Funds Plc 705 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-III (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 93.73 Over the counter financial derivative instruments 4.70 Other Assets 1.57

100.00

ANIMA Funds Plc 706 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-IV

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 112.49% (2019: 111.76%)

Italy: 101.26%

Government Bonds: 101.26% 500,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 525,542 1.00 10,280,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 13,480,475 25.51 11,547,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 13,558,538 25.66 1,000,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 1,348,811 2.55 9,200,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 10,770,671 20.38 12,885,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 13,819,721 26.16

Total Italy 53,503,758 101.26

Spain: 11.23%

Government Bonds: 11.23% 5,801,000 Spain Government Bond 0.35% 30/07/2023 5,935,583 11.23

Total Spain 5,935,583 11.23

Total Bonds 59,439,341 112.49

Swaps: (13.34%) (2019: (12.59%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (500,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (26,650) (0.05) (5,801,000) Coupon Swap 0.35% 30/07/2023 (MPS Capital Services) (81,794) (0.15) (9,200,000) Coupon Swap 1.3% 15/05/2028 (MPS Capital Services) (1,597,120) (3.02) (11,547,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (2,124,648) (4.02) (10,280,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (3,338,944) (6.32) (1,000,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (356,700) (0.68) 13,122,000 Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) (927,726) (1.76)

Total Fair Value Losses on Swaps with values (8,453,582) (16.00)

18,310,291 Equity Swap (JP Morgan) 620,719 1.18 51,456,498 Equity Swap (MPS Capital Services) 432,235 0.82 9,588,587 Equity Swap (MPS Capital Services) 349,983 0.66

Total Fair Value Gains on Swaps 1,402,937 2.66

Total Swaps (7,050,645) (13.34)

Total Value of Investments (Cost: EUR 57,452,676) 52,388,696 99.15

Cash and Cash Equivalents 263,534 0.50

Other Net Assets 187,164 0.35

Net Assets Attributable to Holders of Redeemable Participating Shares 52,839,394 100.00

ANIMA Funds Plc 707 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2023-IV (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 96.52 Over the counter financial derivative instruments 2.28 Other Assets 1.20

100.00

ANIMA Funds Plc 708 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-I

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 112.65%( 2019: 110.37%)

Italy: 102.43%

Government Bonds: 102.43% 500,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 525,542 0.76 1,000,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 1,311,330 1.90 15,687,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 18,419,743 26.69 13,693,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 18,469,275 26.76 11,014,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 12,894,366 18.68 17,791,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 19,081,619 27.64

Total Italy 70,701,875 102.43

Spain: 10.22%

Government Bonds: 10.22% 6,183,000 Spain Government Bond 4.40% 31/10/2023 7,056,658 10.22

Total Spain 7,056,658 10.22

Total Bonds 77,758,533 112.65

Swaps: (17.76%) (2019: (12.46%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (500,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (26,650) (0.04) (11,014,000) Coupon Swap 1.3% 15/05/2028 (MPS Capital Services) (1,936,261) (2.80) (15,687,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (2,913,076) (4.22) (1,000,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (322,900) (0.47) (13,693,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (4,913,048) (7.12) (6,183,000) Coupon Swap 4.4% 31/10/2023 (MPS Capital Services) (845,834) (1.22) (17,965,000) Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) (1,302,463) (1.89)

Total Fair Value Losses on Swaps with values (12,260,232) (17.76)

Total Swaps (12,260,232) (17.76)

Total Return Swaps: 4.32% (2019: 0.00%)

66,046,692 Equity Swap (MPS Capital Services) 601,025 0.87 33,266,680 Equity Swap (MPS Capital Services) 2,378,567 3.45

Total Fair Value Gains on Total Return Swaps 2,979,592 4.32

Total Return Swaps 2,979,592 4.32

Total Value of Investments (Cost: EUR 74,994,997) 68,477,893 99.21

Cash and Cash Equivalents 255,815 0.37

Other Net Assets 291,445 0.42

Net Assets Attributable to Holders of Redeemable Participating Shares 69,025,153 100.00

ANIMA Funds Plc 709 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 95.39 Over the counter financial derivative instruments 3.65 Other Assets 0.96

100.00

ANIMA Funds Plc 710 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-II

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 114.45% (2019: 112.23%)

Italy: 104.36%

Government Bonds: 104.36% 1,000,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 1,311,330 1.50 9,459,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 11,106,799 12.68 17,739,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 23,926,566 27.32 22,117,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 25,892,927 29.57 24,709,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 26,501,473 30.26 2,614,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 2,648,975 3.03

Total Italy 91,388,070 104.36

Spain: 10.09%

Government Bonds: 10.09% 7,579,000 Spain Government Bond 4.80% 31/01/2024 8,835,778 10.09

Total Spain 8,835,778 10.09

Total Bonds 100,223,848 114.45

Swaps: (18.04%) (2019: (13.06%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (2,614,000) Coupon Swap 0.229% 15/02/2024 (MPS Capital Services) (33,721) (0.04) (9,459,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (1,773,562) (2.02) (1,000,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (322,800) (0.37) (17,739,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (6,412,648) (7.32) (7,579,000) Coupon Swap 4.8% 31/01/2024 (MPS Capital Services) (1,493,821) (1.71) 24,709,000 Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) (1,830,937) (2.09) 22,117,000 Interest Rate Swap 1.3% 15/05/2028 (MPS Capital Services) (3,927,979) (4.49)

Total Fair Value Losses on Swaps with values (15,795,468) (18.04)

Total Swaps (15,795,468) (18.04)

Total Return Swaps: 2.64% (2019: 0.00%)

26,294,786 Equity Swap (JP Morgan) 754,660 0.86 85,138,245 Equity Swap (MPS Capital Services) 893,952 1.02 21,009,345 Equity Swap (MPS Capital Services) 661,794 0.76

Total Fair Value Gains on Total Return Swaps 2,310,406 2.64

Total Return Swaps 2,310,406 2.64

Total Value of Investments (Cost: EUR 94,609,846) 86,738,786 99.05

Cash and Cash Equivalents 445,239 0.51

Other Net Assets 385,339 0.44

Net Assets Attributable to Holders of Redeemable Participating Shares 87,569,364 100.00

ANIMA Funds Plc 711 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-II (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 96.72 Over the counter financial derivative instruments 2.23 Other Assets 1.05

100.00

ANIMA Funds Plc 712 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-III

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 106.22% (2019: 106.64%)

Italy: 99.70%

Government Bonds: 99.70% 5,755,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 6,048,987 6.20 20,481,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 24,048,879 24.65 17,565,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 23,691,872 24.28 11,924,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 13,959,726 14.31 22,552,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 24,187,998 24.79 5,272,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 5,342,539 5.47

Total Italy 97,280,001 99.70

Spain: 6.52%

Government Bonds: 6.52% 5,549,000 Spain Government Bond 3.80% 30/04/2024 6,356,113 6.52

Total Spain 6,356,113 6.52

Total Bonds 103,636,114 106.22

Swaps: (15.79%) (2019: (7.42%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (5,755,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (290,052) (0.30) (5,272,000) Coupon Swap 0.229% 15/02/2024 (MPS Capital Services) (68,009) (0.07) 22,927,000 Coupon Swap 0.4% 15/05/2030 (MPS Capital Services) (1,740,159) (1.78) (11,924,000) Coupon Swap 1.3% 15/05/2028 (MPS Capital Services) (2,143,935) (2.20) (20,481,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (3,905,727) (4.00) (17,565,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (6,384,878) (6.55) (5,549,000) Coupon Swap 3.8% 30/04/2024 (MPS Capital Services) (871,193) (0.89)

Total Fair Value Losses on Swaps with values (15,403,953) (15.79)

Total Swaps (15,403,953) (15.79)

Total Return Swaps: 8.87% (2019: 0.00%)

30,182,743 Equity Swap (Goldman Sachs) 3,244,645 3.33 89,562,021 Equity Swap (MPS Capital Services) 994,138 1.02 40,680,044 Equity Swap (MPS Capital Services) 4,413,785 4.52

Total Fair Value Gains on Total Return Swaps 8,652,568 8.87

Total Return Swaps 8,652,568 8.87

Total Value of Investments (Cost: EUR 96,647,469) 96,884,729 99.30

Cash and Cash Equivalents 253,578 0.26

Other Net Assets 431,180 0.44

Net Assets Attributable to Holders of Redeemable Participating Shares 97,569,487 100.00

ANIMA Funds Plc 713 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-III (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 91.35 Over the counter financial derivative instruments 7.62 Other Assets 1.03

100.00

ANIMA Funds Plc 714 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-IV

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 106.88% (2019: 102.82%)

Italy: 102.26%

Government Bonds: 102.26% 12,664,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 13,310,923 13.29 18,598,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 21,837,852 21.81 6,333,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/11/2024 6,741,099 6.73 16,530,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 22,295,852 22.27 13,972,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 16,357,371 16.33 20,377,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 21,855,216 21.83

Total Italy 102,398,313 102.26

Spain: 4.62%

Government Bonds: 4.62% 4,500,000 Spain Government Bond 0.25% 30/07/2024 4,626,270 4.62

Total Spain 4,626,270 4.62

Total Bonds 107,024,583 106.88

Swaps: (14.89%) (2019: (3.61%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (12,664,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (639,532) (0.64) (4,500,000) Coupon Swap 0.25% 30/07/2024 (MPS Capital Services) (61,200) (0.06) 20,377,000 Coupon Swap 0.4% 15/05/2030 (MPS Capital Services) (1,573,104) (1.57) (13,972,000) Coupon Swap 1.3% 15/05/2028 (MPS Capital Services) (2,533,124) (2.53) (6,333,000) Coupon Swap 1.45% 15/11/2024 (MPS Capital Services) (379,980) (0.38) (18,598,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (3,609,872) (3.60) (16,729,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (6,117,795) (6.11)

Total Fair Value Losses on Swaps with values (14,914,607) (14.89)

Total Swaps (14,914,607) (14.89)

Total Return Swaps: 7.44% (2019: 0.00%)

53,049,642 Equity Swap (JP Morgan) 3,777,135 3.77 93,172,975 Equity Swap (MPS Capital Services) 1,034,220 1.03 (93,172,975) Equity Swap (MPS Capital Services) 0 0.00 38,933,103 Equity Swap (MPS Capital Services) 2,639,664 2.64

Total Fair Value Gains on Total Return Swaps 7,451,019 7.44

Total Return Swaps 7,451,019 7.44

Total Value of Investments (Cost: EUR 98,739,707) 99,560,995 99.43

ANIMA Funds Plc 715 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-IV (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 233,590 0.23

Other Net Assets 342,079 0.34

Net Assets Attributable to Holders of Redeemable Participating Shares 100,136,664 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 92.79 Over the counter financial derivative instruments 6.46 Other Assets 0.75

100.00

ANIMA Funds Plc 716 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-V

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 101.75% (2019: 101.51%)

Italy: 93.18%

Government Bonds: 93.18% 3,777,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 3,969,943 3.20 10,780,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 12,657,923 10.21 27,530,000 Italy Buoni Poliennali Del Tesoro 0.35% 24/10/2024 28,067,386 22.63 16,593,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 22,380,828 18.05 17,107,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 20,027,594 16.15 23,408,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 28,454,832 22.94

Total Italy 115,558,506 93.18

Spain: 8.57%

Government Bonds: 8.57% 9,444,000 Spain Government Bond 2.75% 31/10/2024 10,631,337 8.57

Total Spain 10,631,337 8.57

Total Bonds 126,189,843 101.75

Swaps: (15.07%) (2019: (1.92%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (3,777,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (188,472) (0.15) (27,530,000) Coupon Swap 0.35% 24/10/2024 (MPS Capital Services) (735,051) (0.59) (23,408,000) Coupon Swap 1.25% 15/09/2032 (MPS Capital Services) (5,418,952) (4.37) (17,107,000) Coupon Swap 1.3% 15/05/2028 (MPS Capital Services) (3,122,028) (2.52) (10,780,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (2,056,824) (1.66) (9,444,000) Coupon Swap 2.75% 31/10/2024 (MPS Capital Services) (1,085,116) (0.87) (16,593,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (6,084,653) (4.91)

Total Fair Value Losses on Swaps with values (18,691,096) (15.07)

Total Swaps (18,691,096) (15.07)

Total Return Swaps: 12.94% (2019: 0.00%)

13,886,197 Equity Swap (Goldman Sachs) 3,374,346 2.72 108,643,163 Equity Swap (MPS Capital Services) 1,358,040 1.10 108,643,162 Equity Swap (MPS Capital Services) 1,412,361 1.14 40,389,185 Equity Swap (MPS Capital Services) 9,899,389 7.98

Total Fair Value Gains on Total Return Swaps 16,044,136 12.94

Total Return Swaps 16,044,136 12.94

Total Value of Investments (Cost: EUR 112,038,981) 123,542,883 99.62

ANIMA Funds Plc 717 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2024-V (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 416,219 0.34

Other Net Assets 51,957 0.04

Net Assets Attributable to Holders of Redeemable Participating Shares 124,011,059 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 88.20 Over the counter financial derivative instruments 11.21 Other Assets 0.59

100.00

ANIMA Funds Plc 718 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2025-I

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 112.02% (2019: 108.67%)

Italy: 101.11%

Government Bonds: 101.11% 1,100,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 1,442,463 0.59 4,550,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 5,342,630 2.20 41,850,000 Italy Buoni Poliennali Del Tesoro 1.50% 01/06/2025 44,846,460 18.41 48,346,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 65,209,636 26.77 54,736,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 64,080,808 26.31 53,754,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 65,343,518 26.83

Total Italy 246,265,515 101.11

Spain: 10.91%

Government Bonds: 10.91% 24,352,000 Spain Government Bond 1.60% 30/04/2025 26,562,918 10.91

Total Spain 26,562,918 10.91

Total Bonds 272,828,433 112.02

Swaps: (19.37%) (2019: (9.12%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (53,754,000) Coupon Swap 1.25% 15/09/2032 (MPS Capital Services) (12,718,196) (5.22) (54,736,000) Coupon Swap 1.3% 15/05/2028 (MPS Capital Services) (10,208,264) (4.19) (41,850,000) Coupon Swap 1.5% 01/06/2025 (MPS Capital Services) (3,009,015) (1.24) (24,352,000) Coupon Swap 1.6% 30/04/2025 (MPS Capital Services) (2,057,744) (0.84) (4,550,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (867,230) (0.36) (1,100,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (355,740) (0.15) (48,346,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (17,950,870) (7.37)

Total Fair Value Losses on Swaps with values (47,167,059) (19.37)

Total Swaps (47,167,059) (19.37)

Total Return Swaps: 6.77% (2019: 0.00%)

65,943,276 Equity Swap (Goldman Sachs) 2,868,533 1.18 228,687,502 Equity Swap (MPS Capital Services) 5,968,744 2.45 228,687,501 Equity Swap (MPS Capital Services) 1,006,225 0.41 228,687,501 Equity Swap (MPS Capital Services) 3,178,756 1.31 81,642,208 Equity Swap (MPS Capital Services) 3,469,794 1.42

Total Fair Value Gains on Total Return Swaps 16,492,052 6.77

Total Return Swaps 16,492,052 6.77

Total Value of Investments (Cost: EUR 246,440,002) 242,153,426 99.42

ANIMA Funds Plc 719 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2025-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 847,987 0.35

Other Net Assets 559,347 0.23

Net Assets Attributable to Holders of Redeemable Participating Shares 243,560,760 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 93.65 Over the counter financial derivative instruments 5.66 Other Assets 0.69

100.00

ANIMA Funds Plc 720 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2027-I

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 102.78% (2019: 104.19%)

Italy: 94.62%

Government Bonds: 94.62% 809,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 1,060,866 1.02 3,235,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 3,798,551 3.65 17,052,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 22,999,932 22.12 20,928,000 Italy Buoni Poliennali Del Tesoro 2.20% 01/06/2027 23,675,511 22.76 20,230,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 23,683,769 22.77 19,076,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 23,188,841 22.30

Total Italy 98,407,470 94.62

Spain: 8.16%

Government Bonds: 8.16% 7,726,000 Spain Government Bond 1.30% 31/10/2026 8,485,744 8.16

Total Spain 8,485,744 8.16

Total Bonds 106,893,214 102.78

Swaps: (19.66%) (2019: (4.94%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (19,076,000) Coupon Swap 1.25% 15/09/2032 (MPS Capital Services) (5,001,727) (4.81) (20,230,000) Coupon Swap 1.3% 15/05/2028 (MPS Capital Services) (4,236,162) (4.07) (7,726,000) Coupon Swap 1.3% 31/10/2026 (MPS Capital Services) (639,713) (0.61) (20,928,000) Coupon Swap 2.2% 01/06/2027 (MPS Capital Services) (2,965,498) (2.85) (3,235,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (651,206) (0.63) (809,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (270,206) (0.26) (17,052,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (6,686,089) (6.43)

Total Fair Value Losses on Swaps with values (20,450,601) (19.66)

Total Swaps (20,450,601) (19.66)

Total Return Swaps: 16.45% (2019: 0.00%)

50,344,327 Equity Swap (JP Morgan) 9,827,213 9.45 89,056,476 Equity Swap (MPS Capital Services) 1,665,356 1.60 89,056,476 Equity Swap (MPS Capital Services) 739,169 0.71 25,455,325 Equity Swap (MPS Capital Services) 4,877,240 4.69 (25,455,325) Equity Swap (MPS Capital Services) 0 0.00

Total Fair Value Gains on Total Return Swaps 17,108,978 16.45

Total Return Swaps 17,108,978 16.45

Total Value of Investments (Cost: EUR 90,869,378) 103,551,591 99.57

ANIMA Funds Plc 721 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview 2027-I (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 251,415 0.24

Other Net Assets 197,092 0.19

Net Assets Attributable to Holders of Redeemable Participating Shares 104,000,098 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 85.77 Over the counter financial derivative instruments 13.73 Other Assets 0.50

100.00

ANIMA Funds Plc 722 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-II

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 118.38% (2019: 97.09%)

Italy: 101.55%

Government Bonds: 101.55% 657,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 771,452 1.20 657,000 Italy Buoni Poliennali Del Tesoro 1.50% 01/06/2025 704,041 1.10 11,992,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 16,174,946 25.21 16,386,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 19,183,502 29.89 15,690,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 19,072,810 29.72 9,198,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 9,259,332 14.43

Total Italy 65,166,083 101.55

Spain: 16.83%

Government Bonds: 16.83% 8,734,000 Spain Government Bond 4.65% 30/07/2025 10,796,971 16.83

Total Spain 10,796,971 16.83

Total Bonds 75,963,054 118.38

Swaps: (21.40%) (2019: 0.00%) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (9,198,000) Interest Rate Swap 0.095% 15/09/2025 (MPS Capital Services) (74,504) (0.12) (15,690,000) Interest Rate Swap 1.25% 15/09/2032 (MPS Capital Services) (3,778,152) (5.89) (16,386,000) Interest Rate Swap 1.3% 15/05/2028 (MPS Capital Services) (3,113,340) (4.85) (657,000) Interest Rate Swap 1.5% 01/06/2025 (MPS Capital Services) (47,238) (0.07) (657,000) Interest Rate Swap 2.35% 15/09/2024 (MPS Capital Services) (127,721) (0.20) (11,992,000) Interest Rate Swap 3.1% 15/09/2026 (MPS Capital Services) (4,500,598) (7.01) (8,734,000) Interest Rate Swap 4.65% 30/07/2025 (MPS Capital Services) (2,088,299) (3.26)

Total Fair Value Losses on Swaps with values (13,729,852) (21.40)

Total Swaps (13,729,852) (21.40)

Total Return Swaps: 2.23% (2019: 0.00%)

23,473,379 Equity Swap (JP Morgan) 760,537 1.19 63,313,035 Equity Swap (MPS Capital Services) 658,456 1.03 63,313,035 Equity Swap (MPS Capital Services) 829,401 1.29 22,745,139 Equity Swap (MPS Capital Services) 727,844 1.13

Total Fair Value Gains on Total Return Swaps 2,976,238 4.64

63,313,035 Equity Swap (MPS Capital Services) (1,544,838) (2.41)

Total Fair Value Loss on Total Return Swaps (1,544,838) (2.41)

Total Return Swaps 1,431,400 2.23

Total Value of Investments (Cost: EUR 73,601,387) 63,664,602 99.21

ANIMA Funds Plc 723 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-II (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 146,600 0.23

Other Net Assets 356,860 0.56

Net Assets Attributable to Holders of Redeemable Participating Shares 64,168,062 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 95.58 Over the counter financial derivative instruments 3.74 Other Assets 0.68

100.00

ANIMA Funds Plc 724 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-III

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 116.59% (2019: 97.07%)

Italy: 99.96%

Government Bonds: 99.96% 630,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 739,749 1.19 630,000 Italy Buoni Poliennali Del Tesoro 1.50% 01/06/2025 675,108 1.08 11,537,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 15,561,237 24.95 15,664,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 18,338,238 29.40 14,934,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 18,153,813 29.11 8,817,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 8,875,792 14.23

Total Italy 62,343,937 99.96

Spain: 16.63%

Government Bonds: 16.63% 8,389,000 Spain Government Bond 4.65% 30/07/2025 10,370,482 16.63

Total Spain 10,370,482 16.63

Total Bonds 72,714,419 116.59

Swaps: (21.08%) (2019: 0.00%) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (8,817,000) Interest Rate Swap 0.095% 15/09/2025 (MPS Capital Services) (71,418) (0.11) (14,934,000) Interest Rate Swap 1.25% 15/09/2032 (MPS Capital Services) (3,596,107) (5.77) (15,664,000) Interest Rate Swap 1.3% 15/05/2028 (MPS Capital Services) (2,976,160) (4.77) (630,000) Interest Rate Swap 1.5% 01/06/2025 (MPS Capital Services) (45,297) (0.07) (630,000) Interest Rate Swap 2.35% 15/09/2024 (MPS Capital Services) (122,472) (0.20) (11,537,000) Interest Rate Swap 3.1% 15/09/2026 (MPS Capital Services) (4,329,836) (6.94) (8,389,000) Interest Rate Swap 4.65% 30/07/2025 (MPS Capital Services) (2,005,810) (3.22)

Total Fair Value Losses on Swaps with values (13,147,100) (21.08)

Total Swaps (13,147,100) (21.08)

Total Return Swaps: 3.64% (2019: 0.00%)

27,843,846 Equity Swap (JP Morgan) 835,315 1.34 (27,843,846) Equity Swap (JP Morgan) 0 0.00 60,600,469 Equity Swap (MPS Capital Services) 1,315,030 2.11 60,600,469 Equity Swap (MPS Capital Services) 793,866 1.27 26,696,536 Equity Swap (MPS Capital Services) 806,236 1.29

Total Fair Value Gains on Total Return Swaps 3,750,447 6.01

60,600,469 Equity Swap (MPS Capital Services) (1,478,651) (2.37)

Total Fair Value Loss on Total Return Swaps (1,478,651) (2.37)

Total Return Swaps 2,271,796 3.64

Total Value of Investments (Cost: EUR 70,459,445) 61,839,115 99.15

ANIMA Funds Plc 725 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-III (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 185,499 0.30

Other Net Assets 342,504 0.55

Net Assets Attributable to Holders of Redeemable Participating Shares 62,367,118 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 94.40 Over the counter financial derivative instruments 4.87 Other Assets 0.73

100.00

ANIMA Funds Plc 726 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-IV

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 113.47% (2019: 92.14%)

Italy: 101.24%

Government Bonds: 101.24% 385,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 452,069 0.58 385,000 Italy Buoni Poliennali Del Tesoro 2.00% 01/12/2025 424,143 0.54 14,393,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 19,413,442 24.91 11,136,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 13,037,195 16.73 21,647,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 23,217,346 29.80 18,385,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 22,348,859 28.68

Total Italy 78,893,054 101.24

Spain: 12.23%

Government Bonds: 12.23% 8,462,000 Spain Government Bond 2.15% 31/10/2025 9,528,212 12.23

Total Spain 9,528,212 12.23

Total Bonds 88,421,266 113.47

Swaps: (19.29%) (2019: 0.01%) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets 21,647,000 Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) (1,894,113) (2.43) 18,385,000 Interest Rate Swap 1.25% 15/09/2032 (MPS Capital Services) (4,478,586) (5.75) 11,136,000 Interest Rate Swap 1.3% 15/05/2028 (MPS Capital Services) (2,148,134) (2.76) 385,000 Interest Rate Swap 2% 01/12/2025 (MPS Capital Services) (40,387) (0.05) 8,462,000 Interest Rate Swap 2.15% 31/10/2025 (MPS Capital Services) (952,821) (1.22) 385,000 Interest Rate Swap 2.35% 15/09/2024 (MPS Capital Services) (74,844) (0.10) 14,393,000 Interest Rate Swap 3.1% 15/09/2026 (MPS Capital Services) (5,441,993) (6.98)

Total Fair Value Losses on Swaps with values (15,030,878) (19.29)

Total Swaps (15,030,878) (19.29)

Swaps: 5.12% (2019: 0.00%)

38,085,300 Equity Swap (Goldman Sachs) 1,618,625 2.08 74,793,338 Equity Swap (MPS Capital Services) 0 0.00 74,793,338 Equity Swap (MPS Capital Services) 1,024,669 1.31 74,793,338 Equity Swap (MPS Capital Services) 1,563,181 2.01 35,959,845 Equity Swap (MPS Capital Services) 1,611,001 2.07

Total Fair Value Gains on Total Return Swaps 5,817,476 7.47

(74,793,338) Equity Swap (MPS Capital Services) (1,832,437) (2.35)

Total Fair Value Loss on Total Return Swaps (1,832,437) (2.35)

Total Return Swaps 3,985,039 5.12

Total Value of Investments (Cost: EUR 83,553,369) 77,375,427 99.30

ANIMA Funds Plc 727 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-IV (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 304,212 0.39

Other Net Assets 242,920 0.31

Net Assets Attributable to Holders of Redeemable Participating Shares 77,922,559 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 93.25 Over the counter financial derivative instruments 6.13 Other Assets 0.62

100.00

ANIMA Funds Plc 728 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-V

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 111.95% (2019: 0.00%)

Italy: 102.04%

Government Bonds: 102.04% 186,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 218,402 0.57 2,976,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 4,014,063 10.56 9,674,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 11,325,594 29.78 10,667,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 11,440,820 30.08 9,251,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 11,245,542 29.57 558,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 561,721 1.48

Total Italy 38,806,142 102.04

Spain: 9.91%

Government Bonds: 9.91% 3,348,000 Spain Government Bond 2.15% 31/10/2025 3,769,848 9.91

Total Spain 3,769,848 9.91

Total Bonds 42,575,990 111.95

Swaps: (18.36%) (2019: 0.00%) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets 93,000 Interest Rate Swap 2.35% 15/09/2024 (MPS Capital Services) 0 0.00

Total Fair Value Gains on Swaps with values 0 0.00

279,000 Interest Rate Swap 0.095% 15/09/2025 (JP Morgan) (2,691) (0.01) 279,000 Interest Rate Swap 0.095% 15/09/2025 (MPS Capital Services) (2,260) (0.01) 5,395,000 Interest Rate Swap 0.4% 15/05/2030 (JP Morgan) (578,860) (1.52) 5,272,000 Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) (477,643) (1.26) 4,839,000 Interest Rate Swap 1.25% 15/09/2032 (JP Morgan) (1,302,728) (3.42) 4,412,000 Interest Rate Swap 1.25% 15/09/2032 (MPS Capital Services) (1,092,852) (2.87) 4,837,000 Interest Rate Swap 1.3% 15/05/2028 (JP Morgan) (1,007,120) (2.65) 4,837,000 Interest Rate Swap 1.3% 15/05/2028 (MPS Capital Services) (948,536) (2.49) 1,674,000 Interest Rate Swap 2.15% 31/10/2025 (JP Morgan) (191,213) (0.50) 1,674,000 Interest Rate Swap 2.15% 31/10/2025 (MPS Capital Services) (188,492) (0.50) 93,000 Interest Rate Swap 2.35% 15/09/2024 (JP Morgan) (18,190) (0.05) (93,000) Interest Rate Swap 2.35% 15/09/2024 (MPS Capital Services) (18,079) (0.05) 1,488,000 Interest Rate Swap 3.1% 15/09/2026 (JP Morgan) (585,392) (1.54) 1,488,000 Interest Rate Swap 3.1% 15/09/2026 (MPS Capital Services) (568,118) (1.49)

Total Fair Value Losses on Swaps with values (6,982,174) (18.36)

Total Swaps (6,982,174) (18.36)

ANIMA Funds Plc 729 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-V (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Swaps: 5.81% (2019: 0.00%)

18,605,000 Equity Swap (JP Morgan) 383,263 1.01 18,605,000 Equity Swap (JP Morgan) 266,610 0.70 (18,605,000) Equity Swap (JP Morgan) 0 0.00 18,443,690 Equity Swap (JP Morgan) 883,453 2.32 18,054,347 Equity Swap (MPS Capital Services) 267,204 0.70 18,054,347 Equity Swap (MPS Capital Services) 380,947 1.00 18,215,658 Equity Swap (MPS Capital Services) 945,392 2.49

Total Fair Value Gains on Total Return Swaps 3,126,869 8.22

18,605,000 Equity Swap (JP Morgan) (471,637) (1.24) 18,054,347 Equity Swap (MPS Capital Services) (444,137) (1.17)

Total Fair Value Loss on Total Return Swaps (915,774) (2.41)

Total Return Swaps 2,211,095 5.81

Total Value of Investments (Cost: EUR 40,061,569) 37,804,911 99.40

Cash and Cash Equivalents 148,535 0.39

Other Net Assets 78,230 0.21

Net Assets Attributable to Holders of Redeemable Participating Shares 38,031,676 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 92.66 Over the counter financial derivative instruments 6.80 Other Assets 0.54

100.00

ANIMA Funds Plc 730 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-VI

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 109.79% (2019: 0.00%)

Italy: 101.85%

Government Bonds: 101.85% 500,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 587,102 0.28 13,382,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 18,049,794 8.67 53,935,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 63,143,058 30.34 59,742,000 Italy Buoni Poliennali Del Tesoro 0.40% 15/05/2030 64,075,884 30.78 51,407,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 62,490,498 30.02 3,647,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 3,671,318 1.76

Total Italy 212,017,654 101.85

Spain: 7.94%

Government Bonds: 7.94% 14,666,000 Spain Government Bond 1.95% 30/04/2026 16,522,786 7.94

Total Spain 16,522,786 7.94

Total Bonds 228,540,440 109.79

Swaps: (17.49%) (2019: 0.00%) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets 3,647,000 Interest Rate Swap 0.095% 15/09/2025 (MPS Capital Services) (29,541) (0.01) 59,742,000 Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) (5,609,774) (2.70) 51,407,000 Interest Rate Swap 1.25% 15/09/2032 (MPS Capital Services) (12,918,579) (6.21) 53,935,000 Interest Rate Swap 1.3% 15/05/2028 (MPS Capital Services) (10,770,820) (5.17) 14,666,000 Interest Rate Swap 1.95% 30/04/2026 (MPS Capital Services) (1,792,185) (0.86) 500,000 Interest Rate Swap 2.35% 15/09/2024 (MPS Capital Services) (97,200) (0.05) 13,382,000 Interest Rate Swap 3.1% 15/09/2026 (MPS Capital Services) (5,181,510) (2.49)

Total Fair Value Losses on Swaps with values (36,399,609) (17.49)

Total Swaps (36,399,609) (17.49)

Swaps: 7.05% (2019: 0.00%)

51,576,154 Equity Swap (Goldman Sachs) 2,346,715 1.13 3,350,000 Equity Swap (JP Morgan) 137,685 0.07 197,278,067 Equity Swap (MPS Capital Services) 2,682,982 1.29 197,278,067 Equity Swap (MPS Capital Services) 10,416,282 5.00 54,402,276 Equity Swap (MPS Capital Services) 2,594,988 1.25

Total Fair Value Gains on Total Return Swaps 18,178,652 8.74

197,278,067 Equity Swap (MPS Capital Services) (3,511,549) (1.69)

Total Fair Value Loss on Total Return Swaps (3,511,549) (1.69)

Total Return Swaps 14,667,103 7.05

Total Value of Investments (Cost: EUR 205,581,242) 206,807,934 99.35

ANIMA Funds Plc 731 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-VI (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 931,064 0.45

Other Net Assets 418,995 0.20

Net Assets Attributable to Holders of Redeemable Participating Shares 208,157,993 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 92.04 Over the counter financial derivative instruments 7.32 Other Assets 0.64

100.00

ANIMA Funds Plc 732 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-VII

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 91.63% (2019: 0.00%)

France: 18.81%

Government Bonds: 18.81% 18,201,000 France Treasury Bill BTF Zero Coupon 27/01/2021 18,209,903 18.81

Total France 18,209,903 18.81

Italy: 16.87%

Government Bonds: 16.87% 16,325,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 16,336,036 16.87

Total Italy 16,336,036 16.87

Portugal: 31.83%

Government Bonds: 31.83% 30,784,000 Portugal Treasury Bill Zero Coupon 19/03/2021 30,822,966 31.83

Total Portugal 30,822,966 31.83

Spain: 24.12%

Government Bonds: 24.12% 23,332,000 Spain Letras Del Tesoro Zero Coupon 12/02/2021 23,350,797 24.12

Total Spain 23,350,797 24.12

Total Bonds 88,719,702 91.63

Swaps: 3.56% (2019: 0.00%) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets 420,000 Interest Rate Swap 0.095% 15/09/2025 (MPS Capital Services) 13,818 0.01 24,804,000 Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) 1,056,650 1.09 4,204,000 Interest Rate Swap 0.65% 15/05/2026 (MPS Capital Services) 145,458 0.15 22,282,000 Interest Rate Swap 1.25% 15/09/2032 (MPS Capital Services) 1,038,341 1.07 22,492,000 Interest Rate Swap 1.3% 15/05/2028 (MPS Capital Services) 928,920 0.96 3,363,000 Interest Rate Swap 3.1% 15/09/2026 (MPS Capital Services) 152,344 0.16 6,516,000 Interest Rate Swap 5.9% 30/07/2026 (MPS Capital Services) 111,424 0.12

Total Fair Value Gains on Swaps with values 3,446,955 3.56

Total Swaps 3,446,955 3.56

ANIMA Funds Plc 733 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-VII (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Swaps: 0.00% (2019: 0.00%)

1,000 Equity Swap (Morgan Stanley) 0 0.00 7,000 Equity Swap (MPS Capital Services) 0 0.00 7,000 Equity Swap (MPS Capital Services) - 0.00 1,000 Equity Swap (MPS Capital Services) 1 0.00

Total Fair Value Gains on Total Return Swaps 1 0.00

(7,000) Equity Swap (MPS Capital Services) (-) 0.00 7,000 Equity Swap (MPS Capital Services) (1) (0.00)

Total Fair Value Loss on Total Return Swaps (1) (0.00)

Total Return Swaps 0 0.00

Total Value of Investments (Cost: EUR 88,729,616) 92,166,657 95.19

Cash and Cash Equivalents 4,693,026 4.85

Other Net Liabilities (36,691) (0.04)

Net Assets Attributable to Holders of Redeemable Participating Shares 96,822,992 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 91.59 Over the counter financial derivative instruments 3.56 Other Assets 4.85

100.00

ANIMA Funds Plc 734 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-VIII

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 92.26% (2019: 0.00%)

Italy: 92.26%

Government Bonds: 92.26% 230,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 230,380 92.26

Total Italy 230,380 92.26

Total Bonds 230,380 92.26

Swaps: (0.00%) (2019: 0.00%) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets 1,000 Interest Rate Swap 0.4% 15/05/2030 (MPS Capital Services) 2 0.00 1,000 Interest Rate Swap 1.25% 01/12/2026 (MPS Capital Services) 5 0.00 1,000 Interest Rate Swap 3.1% 15/09/2026 (MPS Capital Services) 0 0.00

Total Fair Value Gains on Swaps with values 7 0.00

1,000 Interest Rate Swap 0.65% 15/05/2026 (MPS Capital Services) (1) (0.00) 1,000 Interest Rate Swap 1.25% 15/09/2032 (MPS Capital Services) (4) (0.00) 1,000 Interest Rate Swap 1.3% 15/05/2028 (MPS Capital Services) (4) (0.00) (1,000) Interest Rate Swap 3.1% 15/09/2026 (MPS Capital Services) (2) (0.00) 1,000 Interest Rate Swap 5.9% 30/07/2026 (MPS Capital Services) (0) 0.00

Total Fair Value Losses on Swaps with values (11) (0.00)

Total Swaps (4) (0.00)

Swaps: 0.00% (2019: 0.00%)

1,000 Equity Swap (JP Morgan) 0 0.00 7,000 Equity Swap (MPS Capital Services) 1 0.00 1,000 Equity Swap (MPS Capital Services) - 0.00 (1,000) Equity Swap (MPS Capital Services) 0 0.00 7,000 Equity Swap (MPS Capital Services) 0 0.00 7,000 Equity Swap (MPS Capital Services) 0 0.00

Total Fair Value Gains on Total Return Swaps 1 0.00

Total Return Swaps 1 0.00

Total Value of Investments (Cost: EUR 230,515) 230,377 92.26

Cash and Cash Equivalents 19,311 7.73

Other Net Assets 31 0.01

Net Assets Attributable to Holders of Redeemable Participating Shares 249,719 100.00

ANIMA Funds Plc 735 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Brightview-VIII (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 92.25 Other Assets 7.75

100.00

ANIMA Funds Plc 736 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Europa 2022

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 99.92% (2019: 98.26%)

Italy: 99.44%

Corporate Bonds: 1.95% 308,000 CDP Reti SpA 1.88% 29/05/2022 313,908 0.99 304,000 FCA Bank SpA 1.00% 15/11/2021 307,109 0.96

Government Bonds: 97.49% 6,191,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/09/2021 7,185,131 22.57 6,137,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2022 6,546,395 20.56 1,371,000 Italy Buoni Poliennali Del Tesoro 5.50% 01/09/2022 1,507,272 4.73 1,444,000 Italy Buoni Poliennali Del Tesoro 5.50% 01/11/2022 1,601,107 5.03 5,452,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 7,147,313 22.45 6,013,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 7,052,775 22.15

Total Italy 31,661,010 99.44

Luxembourg: 0.48%

Corporate Bonds: 0.48% 144,000 Fiat Chrysler Finance Europe SENC 4.75% 15/07/2022 153,537 0.48

Total Luxembourg 153,537 0.48

Total Bonds 31,814,547 99.92

Investment Funds: 9.04% (2019:8.60%)

Ireland: 9.04% 503,350 ANIMA Short Term Corporate Bond*/** 2,879,111 9.04

Total Ireland 2,879,111 9.04

Total Investment Funds 2,879,111 9.04

Swaps: (12.56%) (2019: (11.37%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets 35,875,449 Interest Rate Swap 0.73% 10/11/2022 (MPS Capital Services) 466,381 1.47

Total Fair Value Gains on Swaps with values 466,381 1.47

(6,137,000) Coupon Swap 0.1% 15/05/2022 (MPS Capital Services) (387,858) (1.22) (6,191,000) Coupon Swap 2.1% 15/09/2021 (MPS Capital Services) (1,001,085) (3.14) (6,013,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (1,086,549) (3.41) (5,242,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (1,675,343) (5.26) (1,371,000) Coupon Swap 5.5% 01/09/2022 (MPS Capital Services) (152,867) (0.48) (1,444,000) Coupon Swap 5.5% 01/11/2022 (MPS Capital Services) (163,750) (0.52)

Total Fair Value Losses on Swaps with values (4,467,452) (14.03)

Total Swaps (4,001,071) (12.56)

ANIMA Funds Plc 737 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Europa 2022 (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Total Return Swaps: 0.45% (2019: 0.00%)

35,875,449 Equity Swap (MPS Capital Services) 143,502 0.45

Total Fair Value Gains on Total Return Swaps 143,502 0.45

Total Return Swaps 143,502 0.45

Total Value of Investments (Cost: EUR 34,639,443) 30,836,089 96.85

Cash and Cash Equivalents 434,056 1.36

Other Net Assets 569,090 1.79

Net Assets Attributable to Holders of Redeemable Participating Shares 31,839,235 100.00

* The indicated holdings are cross holdings in the ANIMA Funds Plc. ** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 86.88 UCITS and non-UCITS Investment Funds 7.86 Over the counter financial derivative instruments 1.67 Other Assets 3.59

100.00

ANIMA Funds Plc 738 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 102.02% (2019: 98.23%)

Italy: 102.02%

Corporate Bonds: 2.10% 365,000 CDP Reti SpA 1.88% 29/05/2022 372,001 1.06 359,000 FCA Bank SpA 1.00% 15/11/2021 362,672 1.04

Government Bonds: 99.92% 3,468,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/09/2021 4,024,880 11.50 3,200,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2022 3,413,470 9.75 4,298,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/05/2023 4,792,270 13.69 5,524,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 7,241,702 20.69 6,519,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 7,646,273 21.84 5,837,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 7,861,003 22.45

Total Italy 35,714,271 102.02

Total Bonds 35,714,271 102.02

Investment Funds: 9.03% (2019:9.52%)

Ireland: 9.03% 552,575 ANIMA Short Term Corporate Bond*/** 3,160,672 9.03

Total Ireland 3,160,672 9.03

Total Investment Funds 3,160,672 9.03

Swaps: (17.85%) (2019: (12.59%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (3,200,000) Coupon Swap 0.1% 15/05/2022 (MPS Capital Services) (193,920) (0.55) (3,468,000) Coupon Swap 2.1% 15/09/2021 (MPS Capital Services) (551,412) (1.58) (6,519,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (1,179,939) (3.37) (5,524,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (1,768,232) (5.05) (5,837,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (2,055,208) (5.87) (4,298,000) Coupon Swap 4.5% 01/05/2023 (MPS Capital Services) (499,428) (1.43)

Total Fair Value Losses on Swaps with values (6,248,139) (17.85)

Total Swaps (6,248,139) (17.85)

Swaps: 2.68% (2019: 0.00%)

39,803,163 Equity Swap (MPS Capital Services) 660,733 1.89 39,803,163 Equity Swap (MPS Capital Services) 278,622 0.79

Total Fair Value Gains on Total Return Swaps 939,355 2.68

Total Return Swaps 939,355 2.68

Total Value of Investments (Cost: EUR 38,694,854) 33,566,159 95.88

ANIMA Funds Plc 739 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Cash and Cash Equivalents 657,132 1.88

Other Net Assets 785,320 2.24

Net Assets Attributable to Holders of Redeemable Participating Shares 35,008,611 100.00

* The indicated holdings include cross holdings in the ANIMA Funds Plc. ** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 86.19 UCITS and non-UCITS Investment Funds 7.63 Over the counter financial derivative instruments 2.27 Other Assets 3.91

100.00

ANIMA Funds Plc 740 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Sostenibile 2023

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 111.46% (2019: 113.26%)

France: 9.88%

Government Bonds: 9.88% 21,190,000 France Government Bond OAT Zero Coupon 25/03/2023 21,520,081 9.88

Total France 21,520,081 9.88

Italy: 93.18%

Government Bonds: 93.18% 1,658,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2022 1,768,604 0.81 2,442,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/05/2023 2,722,830 1.25 54,946,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 57,729,585 26.50 40,834,688 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 53,565,021 24.58 48,218,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 56,555,914 25.96 22,781,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 30,680,402 14.08

Total Italy 203,022,356 93.18

Spain: 8.40%

Government Bonds: 8.40% 16,256,000 Spain Government Bond 5.40% 31/01/2023 18,301,330 8.40

Total Spain 18,301,330 8.40

Total Bonds 242,843,767 111.46

Swaps: (16.42%) (2019: (17.43%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (1,658,000) Coupon Swap 0.1% 15/05/2022 (MPS Capital Services) (99,977) (0.05) (54,946,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (2,879,171) (1.32) (48,218,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (8,727,458) (4.00) (40,834,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (13,070,964) (6.00) (22,781,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (8,023,468) (3.68) (2,442,000) Coupon Swap 4.5% 01/05/2023 (MPS Capital Services) (283,272) (0.13) (16,256,000) Coupon Swap 5.4% 31/01/2023 (MPS Capital Services) (2,696,870) (1.24)

Total Fair Value Losses on Swaps with values (35,781,180) (16.42)

Total Swaps (35,781,180) (16.42)

Swaps: 0.50% (2019: 0.00%)

201,820,567 Equity Swap (MPS Capital Services) 666,008 0.31 201,820,567 Equity Swap (MPS Capital Services) 423,823 0.19

Total Fair Value Gains on Total Return Swaps 1,089,831 0.50

Total Return Swaps 1,089,831 0.50

ANIMA Funds Plc 741 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Sostenibile 2023 (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 244,278,388) 208,152,418 95.54

Cash and Cash Equivalents 4,055,089 1.86

Other Net Assets 5,668,927 2.60

Net Assets Attributable to Holders of Redeemable Participating Shares 217,876,434 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 95.41 Over the counter financial derivative instruments 0.43 Other Assets 4.16

100.00

ANIMA Funds Plc 742 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Benessere 2023

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 110.85% (2019: 111.17%)

Germany: 17.68%

Government Bonds: 17.68% 45,666,000 Bundesrepublik Deutschland Bundesanleihe 1.50% 15/05/2023 48,132,330 17.68

Total Germany 48,132,330 17.68

Italy: 93.17%

Government Bonds: 93.17% 14,900,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 15,654,839 5.75 14,375,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/08/2023 16,302,146 5.99 58,685,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 76,933,252 28.27 61,870,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 72,568,635 26.66 53,523,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 72,082,312 26.48 50,000 Italy Certificati di Credito Del Tesoro FRN 15/07/2023 50,609 0.02

Total Italy 253,591,793 93.17

Total Bonds 301,724,123 110.85

Swaps: (19.84%) (2019: (15.32%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (14,900,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (746,490) (0.27) (45,666,000) Coupon Swap 1.5% 15/05/2023 (MPS Capital Services) (2,205,668) (0.81) (61,870,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (11,204,657) (4.12) (58,685,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (18,890,702) (6.94) (53,523,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (18,861,505) (6.93) (14,375,000) Coupon Swap 4.75% 01/08/2023 (MPS Capital Services) (2,104,500) (0.77)

Total Fair Value Losses on Swaps with values (54,013,522) (19.84)

Total Swaps (54,013,522) (19.84)

Total Return Swaps: 4.42% (2019: 0.00%)

243,008,570 Equity Swap (MPS Capital Services) 3,013,306 1.11 243,008,570 Equity Swap (MPS Capital Services) 4,884,472 1.79 243,008,570 Equity Swap (MPS Capital Services) 4,131,146 1.52

Total Fair Value Gains on Total Return Swaps 12,028,924 4.42

Total Return Swaps 12,028,924 4.42

Total Value of Investments (Cost: EUR 290,038,512) 259,739,525 95.43

Cash and Cash Equivalents 5,217,142 1.92

Other Net Assets 7,227,726 2.65

Net Assets Attributable to Holders of Redeemable Participating Shares 272,184,393 100.00

ANIMA Funds Plc 743 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Benessere 2023 (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 92.13 Over the counter financial derivative instruments 3.67 Other Assets 4.20

100.00

ANIMA Funds Plc 744 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Consumi 2023

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 108.31% (2019: 108.12%)

France: 24.01%

Government Bonds: 24.01% 4,708,000 France Government Bond OAT 4.25% 25/10/2023 5,373,024 24.01

Total France 5,373,024 24.01

Italy: 70.23%

Government Bonds: 70.23% 870,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 914,075 4.08 4,549,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 5,963,523 26.65 290,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 312,417 1.40 290,000 Italy Buoni Poliennali Del Tesoro 4.50% 01/03/2024 333,906 1.49 2,168,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 2,542,893 11.36 4,195,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 5,649,633 25.25

Total Italy 15,716,447 70.23

Spain: 14.07%

Government Bonds: 14.07% 2,757,000 Spain Government Bond 4.40% 31/10/2023 3,148,908 14.07

Total Spain 3,148,908 14.07

Total Bonds 24,238,379 108.31

Swaps: (19.97%) (2019: (13.29%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (870,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (42,804) (0.19) (2,168,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (399,129) (1.78) (290,000) Coupon Swap 2.45% 01/10/2023 (MPS Capital Services) (21,895) (0.10) (4,549,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (1,467,052) (6.56) (4,195,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (1,495,937) (6.68) (4,708,000) Coupon Swap 4.25% 25/10/2023 (MPS Capital Services) (620,044) (2.77) (2,757,000) Coupon Swap 4.4% 31/10/2023 (MPS Capital Services) (375,779) (1.68) (290,000) Coupon Swap 4.5% 01/03/2024 (MPS Capital Services) (45,965) (0.21)

Total Fair Value Losses on Swaps with values (4,468,605) (19.97)

Total Swaps (4,468,605) (19.97)

Total Return Swaps: 7.73% (2019: 0.00%)

19,971,000 Equity Swap (MPS Capital Services) 503,269 2.25 17,461,300 Equity Swap (MPS Capital Services) 1,225,783 5.48

Total Fair Value Gains on Total Return Swaps 1,729,052 7.73

Total Return Swaps 1,729,052 7.73

ANIMA Funds Plc 745 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Consumi 2023 (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 22,993,762) 21,498,826 96.07

Cash and Cash Equivalents 329,961 1.47

Other Net Assets 550,043 2.46

Net Assets Attributable to Holders of Redeemable Participating Shares 22,378,830 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 89.09 Over the counter financial derivative instruments 6.36 Other Assets 4.55

100.00

ANIMA Funds Plc 746 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Energia 2023

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 100.18% (2019: 104.87%)

France: 22.35%

Government Bonds: 22.35% 16,593,000 France Government Bond OAT 1.75% 25/05/2023 17,570,328 22.35

Total France 17,570,328 22.35

Germany: 7.48%

Government Bonds: 7.48% 5,476,000 Bundesrepublik Deutschland Bundesanleihe 2.00% 15/08/2023 5,877,599 7.48

Total Germany 5,877,599 7.48

Italy: 70.35%

Government Bonds: 70.35% 2,720,000 Italy Buoni Poliennali Del Tesoro 0.10% 15/05/2023 2,857,796 3.64 1,000,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/08/2023 1,134,062 1.44 14,660,000 Italy Buoni Poliennali Del Tesoro 2.60% 15/09/2023 19,218,565 24.45 1,360,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 1,465,130 1.86 10,264,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 12,038,863 15.31 13,804,000 Italy Buoni Poliennali Del Tesoro 3.10% 15/09/2026 18,590,592 23.65

Total Italy 55,305,008 70.35

Total Bonds 78,752,935 100.18

Swaps: (16.77%) (2019: (9.31%)) Notional Fair Value %of Amount Financial assets at fair value through profit or loss EUR Net Assets (2,720,000) Coupon Swap 0.1% 15/05/2023 (MPS Capital Services) (133,280) (0.17) (16,593,000) Coupon Swap 1.75% 25/05/2023 (MPS Capital Services) (927,549) (1.18) (5,476,000) Coupon Swap 2% 15/08/2023 (MPS Capital Services) (347,726) (0.44) (10,264,000) Coupon Swap 2.35% 15/09/2024 (MPS Capital Services) (1,875,233) (2.39) (1,360,000) Coupon Swap 2.45% 01/10/2023 (MPS Capital Services) (104,584) (0.13) (14,660,000) Coupon Swap 2.6% 15/09/2023 (MPS Capital Services) (4,748,374) (6.04) (13,804,000) Coupon Swap 3.1% 15/09/2026 (MPS Capital Services) (4,897,659) (6.23) (1,000,000) Coupon Swap 4.75% 01/08/2023 (MPS Capital Services) (145,300) (0.19)

Total Fair Value Losses on Swaps with values (13,179,705) (16.77)

Total Swaps (13,179,705) (16.77)

ANIMA Funds Plc 747 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Orizzonte Energia 2023 (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Total Return Swaps: 13.20% (2019: 0.00%)

66,798,458 Equity Swap (MPS Capital Services) 788,222 1.01 66,798,458 Equity Swap (MPS Capital Services) 1,683,321 2.14 66,798,458 Equity Swap (MPS Capital Services) 7,902,258 10.05

Total Fair Value Gains on Total Return Swaps 10,373,801 13.20

Total Return Swaps 10,373,801 13.20

Total Value of Investments (Cost: EUR 73,301,194) 75,947,031 96.61

Cash and Cash Equivalents 741,522 0.94

Other Net Assets 1,923,163 2.45

Net Assets Attributable to Holders of Redeemable Participating Shares 78,611,716 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 83.88 Over the counter financial derivative instruments 11.05 Other Assets 5.07

100.00

ANIMA Funds Plc 748 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Defensive

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Investment Funds: 95.50% (2019: 88.42%)

Ireland: 58.28% 1,012,849 ANIMA Liquidity*/** 5,639,339 11.02 27,590 ANIMA U.S. Equity 677,583 1.32 47,603 ANIMA Global Equity 615,450 1.20 326,888 ANIMA Medium Term Bond*/** 2,595,787 5.07 88,159 ANIMA Europe Equity Value 1,201,402 2.35 855,188 ANIMA Euro Government Bond*/** 4,798,628 9.37 1,725,053 ANIMA Short Term Corporate Bond*/** 9,868,513 19.28 154,515 ANIMA High Yield Bond 808,437 1.58 594,880 ANIMA Hybrid Bond*/** 3,627,343 7.09

Total Ireland 29,832,482 58.28

Italy: 37.22% 754,623 ANIMA Obbligazionario Corporate** 7,971,079 15.57 31,074 ANIMA Pacifico 288,613 0.56 43,152 ANIMA Emergenti 648,222 1.27 179,744 ANIMA Obbligazionario High Yield** 2,608,258 5.10 349,020 ANIMA Obbligazionario Emergente** 3,014,140 5.89 344,435 ANIMA Pianeta** 4,237,245 8.28 4,109 ANIMA Selezione Globale 282,995 0.55

Total Italy 19,050,552 37.22

Total Investment Funds 48,883,034 95.50

Total Value of Investments (Cost: EUR 46,841,505) 48,883,034 95.50

Cash and Cash Equivalents 3,101,273 6.06

Other Net Liabilities (798,309) (1.56)

Net Assets Attributable to Holders of Redeemable Participating Shares 51,185,998 100.00

* The indicated holdings are cross holdings in the ANIMA Funds Plc. ** The indicated holdings are managed by ANIMA SGR S.p.A.

% of Gross Analysis of Gross Assets Assets UCITS and non-UCITS Investment Funds 94.03 Other Assets 5.97

100.00

ANIMA Funds Plc 749 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr Global

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 87.39% (2019: 86.35%)

Italy: 79.59%

Government Bonds: 79.59% 1,750,000 Italy Buoni Poliennali Del Tesoro 1.45% 26/11/2022 1,810,375 4.14 2,000,000 Italy Buoni Poliennali Del Tesoro 0.50% 20/04/2023 2,028,049 4.64 1,750,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 1,778,124 4.07 2,000,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 2,154,522 4.93 2,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 2,017,200 4.61 1,300,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/05/2024 1,392,440 3.18 1,000,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 1,069,020 2.45 500,000 Italy Buoni Poliennali Del Tesoro 2.50% 01/12/2024 552,350 1.26 212,000 Italy Buoni Poliennali Del Tesoro 1.40% 26/05/2025 224,361 0.51 1,700,000 Italy Buoni Poliennali Del Tesoro 1.50% 01/06/2025 1,821,720 4.17 1,150,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/07/2026 1,280,893 2.93 1,000,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 1,044,500 2.39 1,200,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 1,259,698 2.88 2,850,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 2,866,585 6.56 2,400,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2022 2,425,618 5.55 1,200,000 Italy Certificati di Credito Del Tesoro FRN 15/07/2023 1,214,640 2.78 1,500,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 1,512,600 3.46 2,500,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 2,533,450 5.79 3,000,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 3,081,264 7.05 1,200,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2025 1,225,176 2.80 1,500,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 1,502,460 3.44

Total Italy 34,795,045 79.59

Portugal: 2.39%

Government Bonds: 2.39% 900,000 Portugal Obrigacoes do Tesouro OT 2.88% 15/10/2025 1,043,973 2.39

Total Portugal 1,043,973 2.39

Spain: 5.41%

Government Bonds: 5.41% 1,300,000 Spain Government Bond 0.35% 30/07/2023 1,330,160 3.04 950,000 Spain Government Bond 1.60% 30/04/2025 1,036,250 2.37

Total Spain 2,366,410 5.41

Total Bonds 38,205,428 87.39

Total Value of Investments (Cost: EUR 37,588,184) 38,205,428 87.39

Cash and Cash Equivalents 5,020,700 11.48

Other Net Assets 492,447 1.13

Net Assets Attributable to Holders of Redeemable Participating Shares 43,718,575 100.00

ANIMA Funds Plc 750 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr Global (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 87.22 Other Assets 12.78

100.00

ANIMA Funds Plc 751 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr Global Allocation

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 86.73% (2019: 79.50%)

Ireland: 1.38%

Government Bonds: 1.38% 700,000 Ireland Government Bond 3.40% 18/03/2024 791,886 1.38

Total Ireland 791,886 1.38

Italy: 80.73%

Government Bonds: 80.73% 2,250,000 Italy Buoni Poliennali Del Tesoro 1.45% 26/11/2022 2,327,625 4.05 2,900,000 Italy Buoni Poliennali Del Tesoro 0.50% 20/04/2023 2,940,672 5.12 2,250,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 2,286,159 3.98 3,000,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 3,231,783 5.63 1,500,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 1,512,900 2.63 1,500,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/05/2024 1,606,662 2.80 1,850,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 1,977,687 3.44 500,000 Italy Buoni Poliennali Del Tesoro 2.50% 01/12/2024 552,350 0.96 425,000 Italy Buoni Poliennali Del Tesoro 1.40% 26/05/2025 449,779 0.78 2,200,000 Italy Buoni Poliennali Del Tesoro 1.50% 01/06/2025 2,357,520 4.11 1,150,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/07/2026 1,280,893 2.23 1,400,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 1,462,300 2.55 1,200,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 1,259,698 2.19 1,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 1,506,933 2.62 4,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 4,023,277 7.00 3,250,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2022 3,284,691 5.72 1,500,000 Italy Certificati di Credito Del Tesoro FRN 15/07/2023 1,518,300 2.64 2,000,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 2,016,800 3.51 3,000,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 3,040,140 5.29 4,000,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 4,108,352 7.15 1,600,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2025 1,633,568 2.84 2,000,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 2,003,280 3.49

Total Italy 46,381,369 80.73

Portugal: 1.51%

Government Bonds: 1.51% 750,000 Portugal Obrigacoes do Tesouro OT 2.88% 15/10/2025 869,978 1.51

Total Portugal 869,978 1.51

Spain: 3.11%

Government Bonds: 3.11% 1,000,000 Spain Government Bond 0.35% 30/07/2023 1,023,200 1.78 700,000 Spain Government Bond 1.60% 30/04/2025 763,553 1.33

Total Spain 1,786,753 3.11

Total Bonds 49,829,986 86.73

ANIMA Funds Plc 752 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr Global Allocation (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Investment Funds: 6.81% (2019:6.48%)

Ireland: 1.15% 6,120 iShares USD Corp Bond UCITS ETF 660,643 1.15

Total Ireland 660,643 1.15

Luxembourg: 5.66% 8,895 Amundi Msci Europe Minimum Volatility Factor UCITS ETF 945,538 1.64 39,044 Amundi MSCI USA Minimum Volatility Factor UCITS ETF 2,307,813 4.02

Total Luxembourg 3,253,351 5.66

Total Investment Funds 3,913,994 6.81

Futures contracts: 0.01% (2019: (0.11%)) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 354,000 2 Euro Bund Futures March 2021 1,280 0.00 302,260 2 Euro-BTP Futures March 2021 1,760 0.01 334,340 2 Euro-OAT Futures March 2021 1,380 0.00

Total Fair Value Gains on Open Futures Contracts 4,420 0.01

512,825 4 U.S. 10 Years Ultra Futures March 2021 (2,373) (0.00)

Total Fair Value Losses on Open Futures Contracts (2,373) (0.00)

Total Futures Contracts 2,047 0.01

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 53,041,914) 53,746,027 93.55

Cash and Cash Equivalents and Due From Broker 3,202,190 5.57

Other Net Assets 503,838 0.88

Net Assets Attributable to Holders of Redeemable Participating Shares 57,452,055 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 86.62 UCITS and non-UCITS Investment Funds 6.80 Financial derivative instruments dealt in on a regulated market 0.01 Other Assets 6.57

100.00

ANIMA Funds Plc 753 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr New

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 78.09% (2019: 0.00%)

Ireland: 1.32%

Government Bonds: 1.32% 250,000 Ireland Government Bond 3.40% 18/03/2024 282,817 1.32

Total Ireland 282,817 1.32

Italy: 72.72%

Government Bonds: 72.72% 400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 400,470 1.87 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 501,490 2.34 500,000 Italy Buoni Poliennali Del Tesoro 1.45% 26/11/2022 517,250 2.41 300,000 Italy Buoni Poliennali Del Tesoro 0.50% 20/04/2023 304,207 1.42 800,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 812,857 3.79 900,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 969,535 4.52 1,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 1,008,600 4.70 300,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/05/2024 321,332 1.50 400,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 427,608 1.99 300,000 Italy Buoni Poliennali Del Tesoro 2.50% 01/12/2024 331,410 1.54 212,000 Italy Buoni Poliennali Del Tesoro 1.40% 26/05/2025 224,361 1.05 850,000 Italy Buoni Poliennali Del Tesoro 1.50% 01/06/2025 910,860 4.24 300,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/07/2026 334,146 1.56 500,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 522,250 2.43 600,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 629,849 2.93 500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 501,218 2.34 1,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 1,508,729 7.03 500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 28/09/2022 503,304 2.34 800,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2022 808,539 3.77 500,000 Italy Certificati di Credito Del Tesoro FRN 15/07/2023 506,100 2.36 1,000,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 1,013,380 4.72 1,000,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 1,027,088 4.79 800,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2025 816,784 3.81 700,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 701,148 3.27

Total Italy 15,602,515 72.72

Portugal: 1.35%

Government Bonds: 1.35% 250,000 Portugal Obrigacoes do Tesouro OT 2.88% 15/10/2025 289,992 1.35

Total Portugal 289,992 1.35

Spain: 2.70%

Government Bonds: 2.70% 300,000 Spain Government Bond 0.35% 30/07/2023 306,960 1.43

ANIMA Funds Plc 754 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr New (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 78.09% (2019: 0.00%)

Spain (continued): 2.70%

Government Bonds (continued): 2.70% 250,000 Spain Government Bond 1.60% 30/04/2025 272,697 1.27

Total Spain 579,657 2.70

Total Bonds 16,754,981 78.09

Investment Funds: 14.72% (2019:0.00%)

Ireland: 6.35% 39,784 Xtrackers MSCI EMU Minimum Volatility UCITS ETF 1,046,916 4.88 11,871 iShares Edge MSCI EM Minimum Volatility UCITS ETF 316,540 1.47

Total Ireland 1,363,456 6.35

Luxembourg: 8.37% 30,384 Amundi MSCI USA Minimum Volatility Factor UCITS ETF 1,795,938 8.37

Total Luxembourg 1,795,938 8.37

Total Investment Funds 3,159,394 14.72

Futures contracts: 0.04% (2019: 0.00%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 1,060,800 6 Euro Bund Futures March 2021 5,040 0.02 2,037,775 16 U.S. 10 Years Ultra Futures March 2021 4,030 0.02

Total Fair Value Gains on Open Futures Contracts 9,070 0.04

Total Futures Contracts 9,070 0.04

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 19,660,692) 19,923,445 92.85

Cash and Cash Equivalents and Due From Broker 1,338,812 6.24

Other Net Assets 195,007 0.91

Net Assets Attributable to Holders of Redeemable Participating Shares 21,457,264 100.00

ANIMA Funds Plc 755 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr New (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 77.85 UCITS and non-UCITS Investment Funds 14.68 Financial derivative instruments dealt in on a regulated market 0.04 Other Assets 7.43

100.00

ANIMA Funds Plc 756 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr Real Assets

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 87.81% (2019: 80.88%)

France: 0.12%

Government Bonds: 0.12% 22,256 France Government Bond OAT 1.85% 25/07/2027 30,532 0.12

Total France 30,532 0.12

Germany: 0.12%

Government Bonds: 0.12% 24,247 Deutsche Bundesrepublik Inflation Linked Bond 0.50% 15/04/2030 30,743 0.12

Total Germany 30,743 0.12

Italy: 78.20%

Government Bonds: 78.20% 1,000,000 Italy Buoni Poliennali Del Tesoro 1.45% 26/11/2022 1,034,500 4.08 1,350,000 Italy Buoni Poliennali Del Tesoro 0.50% 20/04/2023 1,368,933 5.40 1,000,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 1,016,071 4.00 1,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 1,008,600 3.97 1,000,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/05/2024 1,071,108 4.22 1,000,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 1,069,020 4.21 250,000 Italy Buoni Poliennali Del Tesoro 2.50% 01/12/2024 276,175 1.09 212,000 Italy Buoni Poliennali Del Tesoro 1.40% 26/05/2025 224,360 0.88 950,000 Italy Buoni Poliennali Del Tesoro 1.50% 01/06/2025 1,018,020 4.01 575,000 Italy Buoni Poliennali Del Tesoro 2.10% 15/07/2026 640,447 2.52 600,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 626,700 2.47 600,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 629,849 2.48 28,000 Italy Buoni Poliennali Del Tesoro 1.30% 15/05/2028 32,780 0.13 800,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 803,698 3.17 1,300,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 1,307,565 5.15 1,350,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2022 1,364,410 5.38 650,000 Italy Certificati di Credito Del Tesoro FRN 15/07/2023 657,930 2.59 850,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 857,140 3.38 1,250,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 1,266,725 4.99 2,000,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 2,054,176 8.10 700,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2025 714,686 2.82 800,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 801,312 3.16

Total Italy 19,844,205 78.20

Japan: 0.39%

Government Bonds: 0.39% 12,300,000 Japanese Government CPI Linked Bond 0.10% 10/03/2028 98,291 0.39

Total Japan 98,291 0.39

ANIMA Funds Plc 757 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr Real Assets (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 87.81% (2019: 80.88%)

Portugal: 2.06%

Government Bonds: 2.06% 450,000 Portugal Obrigacoes do Tesouro OT 2.88% 15/10/2025 521,986 2.06

Total Portugal 521,986 2.06

Spain: 4.90%

Government Bonds: 4.90% 600,000 Spain Government Bond 0.35% 30/07/2023 613,920 2.42 550,000 Spain Government Bond 1.60% 30/04/2025 599,935 2.36 27,000 Spain Government Bond 1.45% 31/10/2027 30,140 0.12

Total Spain 1,243,995 4.90

United Kingdom: 0.69%

Government Bonds: 0.69% 77,323 United Kingdom Gilt Inflation Linked 1.25% 22/11/2027 173,360 0.69

Total United Kingdom 173,360 0.69

United States: 1.33%

Government Bonds: 1.33% 271,800 United States Treasury Inflation Indexed Bonds 1.75% 15/01/2028 337,810 1.33

Total United States 337,810 1.33

Total Bonds 22,280,922 87.81

Investment Funds: 6.48% (2019:6.10%)

Ireland: 4.52% 2,842 iShares USD High Yield Corp Bond UCITS ETF 239,592 0.94 2,128 iShares EUR High Yield Corp Bond UCITS ETF 218,694 0.86 2,228 iShares USD Corp Bond UCITS ETF 240,509 0.95 4,106 UBS ETFs Plc - CMCI ex-Agriculture SF UCITS ETF 447,967 1.77

Total Ireland 1,146,762 4.52

Luxembourg: 1.96% 29,191 Lyxor Commodities Thomson Reuters/CoreCommodity CRB EX-Energy TR 498,505 1.96 UCITS ETF

Total Luxembourg 498,505 1.96

Total Investment Funds 1,645,267 6.48

ANIMA Funds Plc 758 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA Zephyr Real Assets (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019.

Futures contracts: 0.34% (2019: 0.03%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 2,700,667 440 Bcom Comdty Ind March 2021 93,498 0.37

Total Fair Value Gains on Open Futures Contracts 93,498 0.37

354,273 2 U.S. Ultra Futures March 2021 (6,412) (0.03)

Total Fair Value Losses on Open Futures Contracts (6,412) (0.03)

Total Futures Contracts 87,086 0.34

Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 23,565,283) 24,013,275 94.63

Cash and Cash Equivalents and Due From Broker 1,135,779 4.48

Other Net Assets 226,364 0.89

Net Assets Attributable to Holders of Redeemable Participating Shares 25,375,418 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 87.74 UCITS and non-UCITS Investment Funds 6.48 Financial derivative instruments dealt in on a regulated market 0.37 Other Assets 5.41

100.00

ANIMA Funds Plc 759 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA International Bond

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds: 89.17% (2019: 96.35%)

Australia: 1.38%

Government Bonds: 1.38% 640,000 Australia Government Bond 2.75% 21/04/2024 438,762 1.38

Total Australia 438,762 1.38

Belgium: 1.47%

Government Bonds: 1.47% 410,000 Belgium Government Bond 1.00% 22/06/2031 467,916 1.47

Total Belgium 467,916 1.47

Canada: 0.48%

Government Bonds: 0.48% 150,000 Canadian Government Bond 5.75% 01/06/2026 152,082 0.48

Total Canada 152,082 0.48

France: 7.90%

Government Bonds: 7.90% 930,000 France Government Bond OAT 1.75% 25/11/2024 1,020,026 3.21 700,000 France Government Bond OAT 5.75% 25/10/2032 1,207,721 3.80 150,000 France Government Bond OAT 4.50% 25/04/2041 284,191 0.89

Total France 2,511,938 7.90

Italy: 14.51%

Government Bonds: 14.51% 160,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 160,023 0.50 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2021 1,003,932 3.16 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/11/2021 1,004,324 3.16 700,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 717,919 2.26 380,000 Italy Buoni Poliennali Del Tesoro 2.50% 01/12/2024 419,827 1.32 350,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/09/2033 421,429 1.33 200,000 Italy Buoni Poliennali Del Tesoro 5.00% 01/09/2040 335,353 1.05 350,000 Italy Buoni Poliennali Del Tesoro 6.50% 01/12/2051 498,932 1.57 50,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 50,247 0.16

Total Italy 4,611,986 14.51

Japan: 18.10%

Government Bonds: 18.10% 20,000,000 Japan Government Forty Year Bond 1.70% 20/03/2054 207,051 0.65 65,000,000 Japan Government Ten Year Bond 0.60% 20/03/2023 522,746 1.65

ANIMA Funds Plc 760 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA International Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 89.17% (2019: 96.35%)

Japan (continued): 18.10%

Government Bonds (continued): 18.10% 250,000,000 Japan Government Ten Year Bond 0.10% 20/03/2026 1,999,815 6.29 40,000,000 Japan Government Thirty Year Bond 2.00% 20/12/2033 391,250 1.23 130,000,000 Japan Government Thirty Year Bond 2.00% 20/03/2042 1,353,560 4.26 30,000,000 Japan Government Thirty Year Bond 1.50% 20/12/2044 291,150 0.92 105,000,000 Japan Government Twenty Year Bond 2.10% 20/09/2029 985,779 3.10

Total Japan 5,751,351 18.10

Netherlands: 1.55%

Government Bonds: 1.55% 450,000 Netherlands Government Bond 0.75% 15/07/2027 491,656 1.55

Total Netherlands 491,656 1.55

Spain: 4.38%

Government Bonds: 4.38% 200,000 Spain Government Bond 5.85% 31/01/2022 213,900 0.67 800,000 Spain Government Bond 1.30% 31/10/2026 878,681 2.77 200,000 Spain Government Bond 2.90% 31/10/2046 299,500 0.94

Total Spain 1,392,081 4.38

United Kingdom: 6.47%

Government Bonds: 6.47% 250,000 United Kingdom Gilt 3.75% 07/09/2021 286,586 0.90 410,000 United Kingdom Gilt 4.75% 07/12/2030 663,000 2.09 380,000 United Kingdom Gilt 4.50% 07/12/2042 755,119 2.37 150,000 United Kingdom Gilt 4.25% 07/12/2055 352,058 1.11

Total United Kingdom 2,056,763 6.47

United States: 32.93%

Government Bonds: 32.93% 800,000 United States Treasury Note/Bond 2.00% 31/05/2021 658,867 2.07 200,000 United States Treasury Note/Bond 4.50% 01/06/2021 239,665 0.75 3,700,000 United States Treasury Note/Bond 2.00% 15/02/2023 3,142,821 9.89 100,000 United States Treasury Note/Bond 2.75% 15/11/2023 87,786 0.28 1,300,000 United States Treasury Note/Bond 2.50% 31/01/2025 1,158,645 3.65 900,000 United States Treasury Note/Bond 2.38% 15/05/2027 820,183 2.58 300,000 United States Treasury Note/Bond 4.75% 15/02/2037 373,385 1.18 1,900,000 United States Treasury Note/Bond 5.38% 01/06/2041 2,231,082 7.02 1,600,000 United States Treasury Note/Bond 2.50% 15/02/2045 1,556,536 4.90

ANIMA Funds Plc 761 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA International Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of Holdings Financial assets at fair value through profit or loss EUR Net Assets

Bonds (continued): 89.17% (2019: 96.35%)

United States (continued): 32.93%

Government Bonds (continued): 32.93% 200,000 United States Treasury Note/Bond 2.50% 15/02/2046 194,906 0.61

Total United States 10,463,876 32.93

Total Bonds 28,338,411 89.17

Futures contracts: (0.01%) (2019: 0.14%) Unrealised Notional No. of Gain/(Loss) %of Amount Contracts EUR Net Assets 3,384,171 30 U.S. 10 Years Note Futures March 2021 1,342 0.00

Total Fair Value Gains on Open Futures Contracts 1,342 0.00

(1,772,900) (10) Euro Bund Futures March 2021 (3,500) (0.01) 142,197 1 U.S. Long Bond Futures March 2021 (652) (0.00)

Total Fair Value Losses on Open Futures Contracts (4,152) (0.01)

Total Futures Contracts (2,810) (0.01)

Forward Currency Contracts: 0.01% (2019: 0.18%) Unrealised Maturity Gain/(Loss) %of Counterparty Currency Buys Currency Sells Date EUR Net Assets Goldman SEK 600,000 EUR 58,107 12/01/2021 1,600 0.01 Sachs J.P. Morgan EUR 485,654 JPY 60,000,000 12/01/2021 10,734 0.03 J.P. Morgan EUR 849,776 USD 1,000,000 12/01/2021 32,635 0.10 Nomura EUR 254,851 USD 300,000 12/01/2021 9,710 0.03

Total Fair Value Gains on Forward Currency Contracts 54,679 0.17

Goldman DKK 600,000 EUR 80,608 12/01/2021 (2) (0.00) Sachs Goldman EUR 166,278 AUD 270,000 12/01/2021 (3,985) (0.01) Sachs Goldman USD 240,000 EUR 199,685 12/01/2021 (3,572) (0.01) Sachs J.P. Morgan GBP 27,000 EUR 30,200 12/01/2021 (39) (0.00) J.P. Morgan USD 1,700,000 EUR 1,418,269 12/01/2021 (29,130) (0.09) Morgan USD 820,000 EUR 685,319 12/01/2021 (15,264) (0.05) Stanley

Total Fair Value Losses on Forward Currency Contracts (51,992) (0.16)

Total Forward Currency Contracts 2,687 0.01

ANIMA Funds Plc 762 ANIMA Funds Plc Schedule of Investments as at 31 December 2020 ANIMA International Bond (continued)

The percentages in brackets show the equivalent sector holdings at 31 December 2019. Fair Value %of EUR Net Assets Total Value of Investments (Cost: EUR 27,773,326) 28,338,288 89.17

Cash and Cash Equivalents and Due From Broker 3,321,783 10.45

Other Net Assets 120,257 0.38

Net Assets Attributable to Holders of Redeemable Participating Shares 31,780,328 100.00

% of Gross Analysis of Gross Assets Assets Transferable securities admitted to an official stock exchange listing 88.92 Over the counter financial derivative instruments 0.17 Other Assets 10.91

100.00

ANIMA Funds Plc 763 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Liquidity

Material Portfolio changes Disclosed in the following pages are the aggregate purchase value of a security exceeding one per cent of the aggregate value of purchases for the financial year or the aggregate sale value of a security greater than one per cent of the total value of sales for the financial year. If there are fewer than twenty purchases or twenty sales that are greater than one percent, those purchases and such number of the next largest purchases/sales so that at least twenty purchases/sales are disclosed.

Largest Purchases

Principal Cost Amount EUR 53,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2021 53,109,723 50,000,000 Spain Letras Del Tesoro Zero Coupon 09/10/2020 50,131,890 45,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 26/02/2021 45,067,309 44,900,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 44,980,813 40,000,000 Spain Government Bond 0.05% 31/10/2021 40,230,800 40,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 40,032,454 38,000,000 Spain Government Bond 0.05% 31/01/2021 38,151,045 37,000,000 Spain Letras Del Tesoro Zero Coupon 05/03/2021 37,072,792 37,000,000 Spain Letras Del Tesoro Zero Coupon 13/11/2020 37,064,003 35,000,000 Portugal Treasury Bill Zero Coupon 17/09/2021 35,175,699 33,500,000 Spain Letras Del Tesoro Zero Coupon 04/12/2020 33,573,442 32,000,000 Spain Government Bond 5.5% 30/04/2021 33,476,880 32,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 32,552,775 32,000,000 Spain Letras Del Tesoro Zero Coupon 15/01/2021 32,033,036 30,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 30,078,543 30,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 29,820,563 26,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/01/2021 26,031,681 26,000,000 Spain Letras Del Tesoro Zero Coupon 06/03/2020 26,006,747 25,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 25,505,516 24,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 23,964,076 23,000,000 Portugal Treasury Bill Zero Coupon 20/11/2020 23,039,549 23,000,000 Portugal Treasury Bill Zero Coupon 19/03/2021 23,015,228 22,000,000 Spain Government Bond 1.15% 30/07/2020 22,165,145 22,000,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2020 22,111,590 22,000,000 Portugal Treasury Bill Zero Coupon 15/01/2021 22,070,624 22,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 22,027,630 21,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 21,497,539 21,000,000 Portugal Treasury Bill Zero Coupon 21/05/2021 21,070,569 21,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/10/2020 20,999,458 20,000,000 Spain Government Bond 0.75% 30/07/2021 20,246,000 19,500,000 Spain Government Bond 4.85% 31/10/2020 20,089,720 20,000,000 Portugal Treasury Bill Zero Coupon 16/07/2021 20,086,991 20,000,000 Italy Buoni Poliennali Del Tesoro 0.65% 01/11/2020 20,071,900 20,000,000 Portugal Treasury Bill Zero Coupon 18/09/2020 20,025,311 20,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 20,013,675 19,000,000 Belgium Government Bond 4.25% 28/09/2021 19,928,720 19,000,000 Belgium Government Bond 3.75% 28/09/2020 19,354,730 18,000,000 Italy Buoni Ordinari del Tesoro BOT Zero Coupon 14/07/2021 18,026,325 16,500,000 France Government Bond OAT 3.25% 25/10/2021 17,160,825 16,000,000 Spain Government Bond 4% 30/04/2020 16,177,600 15,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/11/2021 15,072,849 15,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 14,998,994 15,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/06/2021 14,997,900 15,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 14,966,111

Largest Sales

Principal Proceeds Amount EUR 44,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 44,522,193 40,000,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2020 40,025,385 37,000,000 Spain Letras Del Tesoro Zero Coupon 13/11/2020 37,004,281 32,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 32,505,800 31,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 31,513,646 30,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 30,011,252

764 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Liquidity (continued)

Principal Proceeds Amount EUR 28,500,000 Spain Letras Del Tesoro Zero Coupon 04/12/2020 28,502,300 27,500,000 Spain Government Bond 4.85% 31/10/2020 27,533,630 24,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 24,047,572 22,000,000 Spain Letras Del Tesoro Zero Coupon 15/01/2021 22,014,288 22,000,000 Portugal Treasury Bill Zero Coupon 20/11/2020 22,002,754 21,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/10/2020 21,001,185 20,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 20,069,540 20,000,000 Italy Buoni Poliennali Del Tesoro 0.65% 01/11/2020 20,008,000 19,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 19,040,705 18,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 18,544,437 18,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 18,006,593 16,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 16,479,459 15,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/06/2021 15,047,007 15,000,000 Italy Buoni Ordinari del Tesoro BOT Zero Coupon 14/07/2020 15,005,013 14,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/04/2020 14,004,780 13,000,000 Spain Government Bond 1.15% 30/07/2020 13,002,340 12,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 12,515,383 11,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 11,504,604 11,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/08/2020 11,504,205 10,000,000 Spain Letras Del Tesoro Zero Coupon 09/10/2020 10,010,598 10,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 10,003,225 8,000,000 France Treasury Bill BTF Zero Coupon 15/07/2020 8,019,452 7,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/09/2020 7,506,180 7,000,000 French Republic Government Bond OAT 0.25% 25/11/2020 7,000,670

765 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Short Term Bond

Largest Purchases

Principal Cost Amount EUR 12,136,000 France Government Bond OAT 1.75% 25/05/2023 12,957,425 10,233,000 France Government Bond OAT 4.25% 25/10/2023 11,773,292 9,180,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 9,896,405 9,683,000 France Government Bond OAT Zero Coupon 25/03/2023 9,854,209 6,184,000 Bundesrepublik Deutschland Bundesanleihe 1.5% 15/02/2023 6,562,905 6,479,000 France Government Bond OAT Zero Coupon 25/05/2022 6,549,713 5,995,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 6,313,225 5,856,000 Bundesrepublik Deutschland Bundesanleihe 1.5% 15/05/2023 6,225,788 5,690,000 France Government Bond OAT 2.25% 25/10/2022 6,066,213 5,259,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/08/2023 5,971,727 5,542,000 France Government Bond OAT 3% 25/04/2022 5,892,599 5,196,000 Italy Buoni Poliennali Del Tesoro 4.5% 01/05/2023 5,795,507 5,016,000 Spain Government Bond 5.4% 31/01/2023 5,793,323 5,614,000 Spain Government Bond Zero Coupon 30/04/2023 5,664,904 5,124,000 Bundesrepublik Deutschland Bundesanleihe 2% 15/08/2023 5,534,579 4,800,000 Spain Government Bond 4.4% 31/10/2023 5,500,013 5,391,000 Italy Buoni Poliennali Del Tesoro 1% 15/07/2022 5,475,319 5,387,000 Bundesobligation Zero Coupon 07/10/2022 5,472,045 5,152,000 France Government Bond OAT 3.25% 25/10/2021 5,424,649 5,117,000 Spain Government Bond 0.35% 30/07/2023 5,227,388 4,999,000 Bundesobligation Zero Coupon 14/04/2023 5,111,536 4,907,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 4,936,638 4,795,000 Bundesobligation Zero Coupon 08/10/2021 4,840,179 4,782,000 Bundesschatzanweisungen Zero Coupon 11/03/2022 4,838,362 4,560,000 Bundesrepublik Deutschland Bundesanleihe 1.75% 04/07/2022 4,796,972 4,581,000 Italy Buoni Poliennali Del Tesoro 0.3% 15/08/2023 4,612,892 4,255,000 Netherlands Government Bond 1.75% 15/07/2023 4,558,747 4,386,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 4,471,417 4,292,000 Italy Buoni Poliennali Del Tesoro 0.6% 15/06/2023 4,350,802 4,211,000 Bundesobligation Zero Coupon 13/10/2023 4,315,712 4,105,000 Bundesschatzanweisungen Zero Coupon 16/09/2022 4,159,717 3,318,000 France Government Bond OAT 8.5% 25/04/2023 4,158,910 3,534,000 France Government Bond OAT 8.25% 25/04/2022 4,152,274 4,113,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 4,110,460 3,920,000 Bundesrepublik Deutschland Bundesanleihe 2.25% 04/09/2021 4,063,574 4,017,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 3,983,199 3,911,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/03/2023 3,974,113 3,899,000 Bundesschatzanweisungen Zero Coupon 06/10/2022 3,947,747 3,874,000 French Republic Government Bond OAT Zero Coupon 25/02/2023 3,928,694 3,518,000 Italy Buoni Poliennali Del Tesoro 5.5% 01/09/2022 3,896,310 3,832,000 Bundesschatzanweisungen Zero Coupon 10/12/2021 3,877,028 3,727,000 Bundesrepublik Deutschland Bundesanleihe 2% 04/01/2022 3,875,533 3,482,000 Bundesrepublik Deutschland Bundesanleihe 1.5% 04/09/2022 3,656,084

Largest Sales

Principal Proceeds Amount EUR 9,444,000 France Government Bond OAT 3.25% 25/10/2021 9,824,226 8,415,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 8,835,248 7,388,000 Bundesobligation Zero Coupon 08/10/2021 7,443,370 6,997,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/08/2021 7,269,870 6,568,000 French Republic Government Bond OAT 3.75% 25/04/2021 6,838,930 6,631,000 Bundesrepublik Deutschland Bundesanleihe 2.25% 04/09/2021 6,815,959 5,563,000 France Government Bond OAT Zero Coupon 25/05/2021 5,591,757 5,216,000 Spain Government Bond 5.5% 30/04/2021 5,500,752 5,024,000 Spain Government Bond 0.05% 31/10/2021 5,051,551 4,871,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/03/2021 5,012,600 4,775,000 Spain Government Bond 0.75% 30/07/2021 4,833,672 4,669,000 Italy Buoni Poliennali Del Tesoro 2.3% 15/10/2021 4,792,671 4,510,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 4,627,002

766 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Short Term Bond (continued)

Principal Proceeds Amount EUR 4,422,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/05/2021 4,573,699 4,400,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 4,420,504 3,686,000 France Government Bond OAT 3% 25/04/2022 3,936,546 3,832,000 Bundesschatzanweisungen Zero Coupon 10/12/2021 3,858,249 3,608,000 Belgium Government Bond 4.25% 28/09/2021 3,791,082 3,742,000 Bundesobligation Zero Coupon 09/04/2021 3,762,244 3,586,000 Netherlands Government Bond 3.25% 15/07/2021 3,721,379 3,669,000 Bundesschatzanweisungen Zero Coupon 11/06/2021 3,692,552 3,538,000 Austria Government Bond 3.5% 15/09/2021 3,684,221 3,304,000 Bundesrepublik Deutschland Bundesanleihe 3.25% 04/07/2021 3,425,219 3,269,000 Italy Buoni Poliennali Del Tesoro 0.35% 01/11/2021 3,289,797 3,136,000 France Government Bond OAT Zero Coupon 25/05/2022 3,172,052 3,108,000 Italy Buoni Poliennali Del Tesoro 1% 15/07/2022 3,170,760 3,082,000 France Government Bond OAT Zero Coupon 25/02/2021 3,101,232 3,032,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 3,032,250 3,005,000 Italy Buoni Poliennali Del Tesoro 0.45% 01/06/2021 3,020,656 2,528,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/04/2021 2,523,555 2,509,000 Bundesschatzanweisungen Zero Coupon 12/03/2021 2,522,072 2,263,000 Spain Government Bond 0.05% 31/01/2021 2,274,000 2,018,000 France Government Bond OAT 1.75% 25/05/2023 2,149,180 2,091,000 Italy Buoni Poliennali Del Tesoro 0.9% 01/08/2022 2,127,473 1,933,000 Bundesrepublik Deutschland Bundesanleihe 2.5% 04/01/2021 1,989,540 1,890,000 Portugal Obrigacoes do Tesouro OT 3.85% 15/04/2021 1,968,443 1,826,000 Bundesrepublik Deutschland Bundesanleihe 1.75% 04/07/2022 1,910,944

767 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Medium Term Bond

Largest Purchases

Principal Cost Amount EUR 5,578,000 Italy Buoni Poliennali Del Tesoro 3.5% 01/03/2030 6,922,584 6,240,000 French Republic Government Bond OAT Zero Coupon 25/11/2029 6,388,310 5,324,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/08/2026 5,569,412 4,905,000 France Government Bond OAT 0.75% 25/05/2028 5,381,646 4,671,000 Italy Buoni Poliennali Del Tesoro 2.2% 01/06/2027 5,212,912 4,589,000 Bundesrepublik Deutschland Bundesanleihe 0.25% 15/02/2029 4,951,306 3,779,000 Bundesrepublik Deutschland Bundesanleihe 0.5% 15/08/2027 4,079,266 3,551,000 Bundesrepublik Deutschland Bundesanleihe 1.5% 15/02/2023 3,766,337 2,672,000 France Government Bond OAT 2.75% 25/10/2027 3,304,684 3,142,000 France Government Bond OAT 0.25% 25/11/2026 3,279,760 2,494,000 France Government Bond OAT 2.5% 25/05/2030 3,193,206 2,871,000 France Government Bond OAT 1.75% 25/11/2024 3,169,971 2,777,000 Spain Government Bond 1.3% 31/10/2026 3,043,994 2,541,000 Spain Government Bond 1.95% 30/07/2030 3,000,880 1,690,000 Bundesrepublik Deutschland Bundesanleihe 4.75% 04/07/2034 2,948,744 2,345,000 Spain Government Bond 2.35% 30/07/2033 2,887,500 2,513,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/08/2023 2,862,111 2,463,000 France Government Bond OAT 1% 25/11/2025 2,658,849 1,281,000 Bundesrepublik Deutschland Bundesanleihe 4.75% 04/07/2040 2,633,543 1,659,000 Italy Buoni Poliennali Del Tesoro 5.75% 01/02/2033 2,541,846 1,751,000 France Government Bond OAT 2% 25/05/2048 2,467,425 2,211,000 France Government Bond OAT 3% 25/04/2022 2,360,309 2,153,000 Bundesrepublik Deutschland Bundesanleihe 1% 15/08/2025 2,340,371 2,119,000 Bundesrepublik Deutschland Bundesanleihe 0.5% 15/02/2025 2,248,990 2,031,000 Spain Government Bond 1.5% 30/04/2027 2,242,889 2,217,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 2,242,494 2,169,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 2,232,681 2,044,000 Bundesrepublik Deutschland Bundesanleihe 1.75% 15/02/2024 2,222,646 1,149,000 France Government Bond OAT 4.5% 25/04/2041 2,182,160 1,296,000 Bundesrepublik Deutschland Bundesanleihe 6.25% 04/01/2030 2,151,864 1,257,000 Italy Buoni Poliennali Del Tesoro 5% 01/09/2040 2,052,335 1,775,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/09/2024 2,039,226

Largest Sales

Principal Proceeds Amount EUR 7,360,000 France Government Bond OAT 0.75% 25/05/2028 7,975,879 5,536,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2028 7,228,072 2,932,000 France Government Bond OAT 5.5% 25/04/2029 4,536,684 3,581,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/08/2023 4,046,969 2,612,315 Bundesrepublik Deutschland Bundesanleihe 5.625% 04/01/2028 3,852,886 3,462,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 3,550,166 2,993,648 Bundesrepublik Deutschland Bundesanleihe 3.25% 04/07/2021 3,112,132 2,971,578 France Government Bond OAT 3.25% 25/10/2021 3,108,269 2,786,000 Spain Government Bond 5.5% 30/04/2021 2,943,378 1,770,000 Spain Government Bond 5.75% 30/07/2032 2,843,263 2,650,000 France Government Bond OAT 3% 25/04/2022 2,830,100 2,665,236 Bundesrepublik Deutschland Bundesanleihe 2.5% 04/01/2021 2,746,046 2,633,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/08/2021 2,735,584 2,650,000 France Government Bond OAT Zero Coupon 25/05/2021 2,662,720 1,820,000 Netherlands Government Bond 5.5% 15/01/2028 2,637,852 2,390,000 France Government Bond OAT 3.75% 25/04/2021 2,489,448 2,364,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 2,473,500 2,266,000 France Government Bond OAT Zero Coupon 25/03/2024 2,304,912 2,155,000 Bundesobligation Zero Coupon 08/10/2021 2,178,051 1,268,000 France Government Bond OAT 5.75% 25/10/2032 2,156,122 1,921,000 French Republic Government Bond OAT 0.75% 25/05/2028 2,106,549 2,037,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 2,105,932 2,041,000 Bundesobligation Zero Coupon 13/10/2023 2,097,586 1,770,000 Bundesrepublik Deutschland Bundesanleihe 0.5% 15/08/2027 1,933,239

768 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Medium Term Bond (continued)

Principal Proceeds Amount EUR 1,260,000 Italy Buoni Poliennali Del Tesoro 5.75% 01/02/2033 1,927,380 1,594,000 Italy Buoni Poliennali Del Tesoro 4.5% 01/03/2026 1,897,308 1,749,000 Netherlands Government Bond 1.75% 15/07/2023 1,875,645

769 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Bond Dollar

Largest Purchases

Principal Cost Amount EUR 11,013,000 United States Treasury Note/Bond 0.625% 15/05/2030 9,163,545 8,492,000 United States Treasury Note/Bond 2.25% 15/11/2027 7,833,380 8,116,000 United States Treasury Note/Bond 2.125% 31/07/2024 7,368,962 7,948,000 United States Treasury Note/Bond 2.25% 15/11/2025 7,334,669 8,089,000 United States Treasury Note/Bond 1.5% 15/08/2026 7,212,683 7,434,000 United States Treasury Note/Bond 2.125% 15/05/2025 6,915,491 7,528,000 United States Treasury Note/Bond 1.375% 30/09/2023 6,556,092 6,841,000 United States Treasury Note/Bond 2.25% 15/08/2027 6,515,081 6,301,000 United States Treasury Note/Bond 3.125% 15/11/2028 6,482,976 6,326,000 United States Treasury Note/Bond 2.375% 15/05/2029 5,977,394 5,800,000 Italy Buoni Poliennali Del Tesoro 4% 01/09/2020 5,892,858 6,536,000 United States Treasury Note/Bond 0.25% 31/08/2025 5,461,141 6,059,000 United States Treasury Note/Bond 1.625% 15/05/2026 5,444,263 5,399,000 United States Treasury Note/Bond 2.375% 15/05/2027 5,277,645 4,258,000 United States Treasury Note/Bond 3% 15/08/2048 5,002,244 5,613,000 United States Treasury Note/Bond 2% 30/11/2022 4,983,700 4,887,000 United States Treasury Note/Bond 2.25% 15/02/2027 4,769,959 4,756,000 United States Treasury Note/Bond 2.625% 31/03/2025 4,620,383 5,053,000 United States Treasury Note/Bond 2.75% 31/08/2023 4,543,589 4,599,000 United States Treasury Note/Bond 1.75% 15/11/2029 4,535,513 4,833,000 United States Treasury Note/Bond 1.875% 31/05/2022 4,183,614 4,503,000 United States Treasury Note/Bond 1.625% 15/08/2029 4,177,664 4,321,000 United States Treasury Note/Bond 2.875% 31/05/2025 4,176,078 4,078,000 United States Treasury Note/Bond 2.875% 15/05/2028 4,052,971 5,014,000 United States Treasury Note/Bond 1.375% 15/08/2050 3,893,399 4,304,000 United States Treasury Note/Bond 1.75% 30/11/2021 3,744,585 3,833,000 United States Treasury Note/Bond 2% 15/11/2026 3,690,960 3,650,000 United States Treasury Note/Bond 2% 15/02/2050 3,608,234 3,861,000 United States Treasury Note/Bond 2.125% 31/12/2022 3,606,196 4,089,000 United States Treasury Note/Bond 1.5% 30/11/2024 3,538,887 3,600,000 United States Treasury Note/Bond 2.25% 31/12/2024 3,387,420 3,878,000 United States Treasury Note/Bond 1.75% 31/05/2022 3,344,291 3,352,000 United States Treasury Note/Bond 2.75% 15/02/2028 3,337,013

Largest Sales

Principal Proceeds Amount EUR 5,800,000 Italy Buoni Poliennali Del Tesoro 4% 01/09/2020 5,862,118 5,729,000 United States Treasury Note/Bond 3.125% 15/11/2028 5,804,960 5,471,000 United States Treasury Note/Bond 2.375% 15/05/2029 5,554,140 4,768,000 United States Treasury Note/Bond 2.25% 15/02/2027 4,517,359 4,904,000 United States Treasury Note/Bond 1.375% 31/05/2021 4,425,079 4,453,000 United States Treasury Note/Bond 2% 15/11/2026 4,301,130 4,411,000 United States Treasury Note/Bond 1.75% 15/11/2029 4,008,311 4,082,000 United States Treasury Note/Bond 2.375% 15/05/2027 3,820,794 3,764,000 United States Treasury Note/Bond 2.75% 15/02/2028 3,808,092 4,116,000 United States Treasury Note/Bond 1.125% 28/02/2021 3,740,867 4,013,000 United States Treasury Note/Bond 2.125% 31/12/2022 3,712,284 3,725,000 United States Treasury Note/Bond 1.625% 15/05/2026 3,554,560 3,855,000 United States Treasury Note/Bond 2% 15/11/2021 3,359,261 3,522,000 United States Treasury Note/Bond 2.25% 31/12/2024 3,291,793 3,069,000 United States Treasury Note/Bond 2.25% 15/08/2049 3,194,412 3,429,000 United States Treasury Note/Bond 1.5% 15/08/2026 3,190,171 2,747,000 United States Treasury Note/Bond 3% 15/02/2049 3,150,928 3,425,000 United States Treasury Note/Bond 2% 31/10/2021 3,035,826 3,086,000 United States Treasury Note/Bond 2.25% 31/12/2023 2,904,248 3,279,000 United States Treasury Note/Bond 1.75% 30/11/2021 2,900,582 2,914,000 United States Treasury Note/Bond 2.875% 30/11/2025 2,856,850 3,208,000 United States Treasury Note/Bond 2% 31/12/2021 2,820,134 2,927,000 United States Treasury Note/Bond 2.25% 15/11/2025 2,802,298

770 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Bond Dollar (continued)

Principal Proceeds Amount EUR 2,987,000 United States Treasury Note/Bond 1.75% 31/01/2023 2,657,762 2,891,000 United States Treasury Note/Bond 1.625% 15/02/2026 2,627,503 2,705,000 United States Treasury Note/Bond 2.25% 15/11/2024 2,545,563 2,694,000 United States Treasury Note/Bond 2.75% 28/02/2025 2,542,166 2,513,000 United States Treasury Note/Bond 2% 15/08/2025 2,432,605 2,209,000 United States Treasury Note/Bond 6% 15/02/2026 2,415,660 2,773,000 United States Treasury Note/Bond 2% 31/08/2021 2,402,957 2,539,000 United States Treasury Note/Bond 2.25% 31/10/2024 2,394,880

771 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Global Bond

Largest Purchases

Principal Cost Amount EUR 8,177,000 United States Treasury Note/Bond 2.25% 15/11/2024 7,826,070 5,199,000 United States Treasury Note/Bond 2% 15/11/2026 4,980,343 435,200,000 Japan Government Twenty Year Bond 2.1% 20/09/2029 4,251,126 329,100,000 Japan Government Twenty Year Bond 2.1% 20/12/2026 3,093,856 3,297,000 United States Treasury Note/Bond 2.25% 15/08/2027 3,089,578 331,000,000 Japan Government Ten Year Bond 0.8% 20/09/2022 2,652,513 2,428,000 United States Treasury Note/Bond 1.75% 15/11/2029 2,363,443 2,392,000 United States Treasury Note/Bond 1.75% 15/05/2023 2,159,093 2,450,000 United States Treasury Note/Bond 1.375% 30/09/2023 2,110,882 2,094,000 United States Treasury Note/Bond 1.75% 15/05/2022 1,937,358 177,100,000 Japan Government Forty Year Bond 1.7% 20/03/2054 1,918,768 1,928,000 United States Treasury Note/Bond 1.75% 31/01/2023 1,791,063 1,355,000 United States Treasury Note/Bond 3.375% 15/05/2044 1,657,547 183,000,000 Japan Government Ten Year Bond 0.6% 20/06/2024 1,556,797 163,200,000 Japan Government Twenty Year Bond 2.1% 20/03/2025 1,477,356 177,950,000 Japan Government Ten Year Bond 1% 20/12/2021 1,455,062 1,642,000 United States Treasury Note/Bond 1.625% 15/08/2022 1,438,256 1,318,000 United States Treasury Note/Bond 2.375% 15/11/2049 1,437,143 1,537,000 United States Treasury Note/Bond 1.625% 15/11/2022 1,429,052 1,453,000 United States Treasury Note/Bond 2.375% 15/08/2024 1,333,111 161,650,000 Japan Government Ten Year Bond 0.1% 20/06/2027 1,315,736 1,430,000 United States Treasury Note/Bond 1.75% 31/03/2022 1,295,024 125,100,000 Japan Government Thirty Year Bond 1.5% 20/12/2044 1,245,295 1,349,000 United States Treasury Note/Bond 2% 15/02/2022 1,243,588 123,300,000 Japan Government Twenty Year Bond 1.6% 20/12/2033 1,214,020 1,322,000 United States Treasury Note/Bond 1.875% 31/10/2022 1,180,147

Largest Sales

Principal Proceeds Amount EUR 392,250,000 Japan Government Ten Year Bond 1% 20/12/2021 3,137,303 3,032,000 United States Treasury Note/Bond 1.25% 31/07/2023 2,809,341 2,653,000 United States Treasury Note/Bond 2.5% 15/05/2024 2,454,889 2,531,000 United States Treasury Note/Bond 3.125% 15/05/2021 2,372,389 2,398,000 United States Treasury Note/Bond 2.375% 15/05/2029 2,346,072 2,395,000 United States Treasury Note/Bond 3.625% 15/02/2021 2,215,960 2,279,000 United States Treasury Note/Bond 2.25% 15/11/2025 2,203,490 2,398,000 United States Treasury Note/Bond 1.125% 30/09/2021 2,102,029 1,902,000 United States Treasury Note/Bond 6.25% 15/08/2023 1,969,151 1,670,000 United States Treasury Note/Bond 3% 15/02/2047 1,960,842 227,600,000 Japan Government Ten Year Bond 0.3% 20/12/2025 1,902,233 1,682,000 United States Treasury Note/Bond 2.75% 15/08/2047 1,895,862 2,185,000 United States Treasury Note/Bond 2% 15/11/2021 1,872,917 2,050,000 United States Treasury Note/Bond 1.75% 15/05/2022 1,778,546 1,712,000 United States Treasury Note/Bond 2.875% 15/05/2028 1,728,677 209,000,000 Japan Government Ten Year Bond 0.1% 20/03/2028 1,702,610 176,200,000 Japan Government Twenty Year Bond 2.1% 20/09/2028 1,696,219 205,650,000 Japan Government Ten Year Bond 1% 20/09/2021 1,676,882 1,719,000 United States Treasury Note/Bond 2.75% 15/02/2024 1,585,375 1,556,000 United States Treasury Note/Bond 2.875% 30/11/2025 1,493,077 1,586,000 United States Treasury Note/Bond 1.375% 30/04/2021 1,478,264 1,585,000 United States Treasury Note/Bond 2% 15/11/2026 1,472,343 179,150,000 Japan Government Ten Year Bond 0.6% 20/06/2024 1,467,287 1,601,000 United States Treasury Note/Bond 2.375% 15/08/2024 1,464,382 1,597,000 United States Treasury Note/Bond 2% 31/05/2021 1,441,103 1,634,000 United States Treasury Note/Bond 1.625% 15/08/2022 1,418,548 1,619,000 United States Treasury Note/Bond 2% 15/02/2022 1,405,573 132,700,000 Japan Government Twenty Year Bond 2.1% 20/12/2027 1,289,055 1,341,000 United States Treasury Note/Bond 2% 15/08/2025 1,279,058 1,104,000 United States Treasury Note/Bond 6% 15/02/2026 1,257,877

772 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Global Bond (continued)

Principal Proceeds Amount EUR 1,051,000 United States Treasury Note/Bond 3.125% 15/02/2042 1,216,779

773 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Life Bond*

Largest Purchases

Principal Cost Amount EUR 18,500,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 19,699,725 18,200,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 18,307,597 15,200,000 Italy Buoni Poliennali Del Tesoro 0.35% 01/02/2025 15,271,744 14,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 13,999,160 12,000,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/05/2024 12,860,160 10,000,000 Italy Buoni Poliennali Del Tesoro 0.5% 02/01/2026 9,960,000 4,000,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 3,997,680 2,000,000 Telefonica Emisiones SA 0.664% 03/02/2030 1,958,550 1,300,000 Abertis Infraestructuras SA 2.25% 29/03/2029 1,289,587 1,000,000 Volkswagen Bank GmbH 2.5% 31/07/2026 1,097,390 1,000,000 Scentre Management Ltd 1.45% 28/03/2029 1,004,080 1,000,000 Upjohn Finance BV 1.362% 23/06/2027 1,000,000 1,000,000 Takeda Pharmaceutical Co Ltd 1% 09/07/2029 998,030 1,000,000 La Poste SA 1.375% 21/04/2032 997,800 1,000,000 ASTM SpA 1.625% 08/02/2028 997,430 1,000,000 Bankinter SA 0.625% 06/10/2027 996,916 1,000,000 FCA Bank SpA 0.5% 18/09/2023 996,800 1,000,000 Deutsche Wohnen SE 1% 30/04/2025 996,780 1,000,000 Aroundtown SA 0.625% 09/07/2025 996,660 1,000,000 SAP SE 0.125% 18/05/2026 993,750

Largest Sales

Principal Proceeds Amount EUR 24,000,000 Italy Buoni Poliennali Del Tesoro 0.65% 01/11/2020 24,042,360 18,500,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 19,711,565 18,000,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/05/2021 18,888,120 18,200,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 18,828,082 18,000,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 18,579,780 16,000,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 16,111,520 15,000,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/03/2023 15,416,700 15,200,000 Italy Buoni Poliennali Del Tesoro 0.35% 01/02/2025 15,174,464 15,000,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2022 15,150,350 14,000,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 15,080,100 14,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 14,065,100 12,000,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/09/2024 13,732,800 12,000,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/05/2024 12,820,320 12,600,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 12,655,566 11,300,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 11,864,096 10,000,000 Italy Buoni Poliennali Del Tesoro 5.5% 01/11/2022 11,172,900 10,000,000 Italy Buoni Poliennali Del Tesoro 0.5% 01/02/2026 10,142,900 2,750,000 International Business Machines Corp 0.95% 23/05/2025 2,891,790 2,500,000 Solvay SA 1.625% 02/12/2022 2,586,250 2,250,000 International Business Machines Corp 0.5% 07/09/2021 2,266,565 *This Fund was terminated on 22 October 2020, see note 22 for further details.

774 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Short Term Corporate Bond

Largest Purchases

Principal Cost Amount EUR 9,800,000 Volkswagen International Finance NV FRN 29/03/2049 9,876,670 9,500,000 Allied Irish Banks Plc FRN 26/11/2025 9,332,600 7,900,000 Commerzbank AG 7.75% 16/03/2021 8,218,600 7,697,000 Barclays Plc FRN 11/11/2025 7,735,303 7,598,000 EnBW Energie Baden-Wuerttemberg AG FRN 02/04/2076 7,724,129 6,500,000 Credit Suisse AG FRN 18/09/2025 6,582,875 6,500,000 Nordea Bank Abp 4.5% 26/03/2020 6,510,825 6,179,000 SSE Plc FRN 29/12/2049 6,223,172 6,000,000 AXA SA FRN 16/04/2040 6,006,000 6,000,000 Upjohn Finance BV 0.816% 23/06/2022 6,000,000 5,500,000 Agenzia Nazionale per l’Attrazione degli Investimenti e lo Sviluppo d’Impresa 1.375% 5,614,400 20/07/2022 5,500,000 Lloyds Banking Group Plc FRN 31/12/2049 5,603,375 5,533,000 UniCredit SpA FRN 28/10/2025 5,586,670 5,500,000 Banco de Sabadell SA FRN 29/06/2023 5,498,405 5,000,000 Italy Buoni Poliennali Del Tesoro 0.1% 15/05/2023 5,256,851 5,100,000 Standard Chartered Plc FRN 21/10/2025 5,137,990 5,000,000 Infineon Technologies AG 0.75% 24/06/2023 4,991,600 5,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 4,962,950 4,205,000 Santander UK Group Holdings Plc FRN 29/12/2049 4,876,330 5,002,000 Repsol International Finance BV FRN 29/12/2049 4,861,072 4,500,000 AMCO - Asset Management Co SpA 1.5% 17/07/2023 4,488,840 4,100,000 Terna Rete Elettrica Nazionale SpA 4.75% 15/03/2021 4,217,875 4,000,000 Fiat Chrysler Finance Europe SENC 4.75% 22/03/2021 4,058,400 4,000,000 Ferrovie dello Stato Italiane SpA 4% 22/07/2020 4,029,400 4,000,000 Cassa Depositi e Prestiti SpA 1.5% 20/04/2023 3,994,760 3,900,000 BNP Paribas SA FRN 20/03/2026 3,952,494 3,500,000 UBS AG FRN 12/02/2026 3,626,350 3,200,000 Enel SpA FRN 10/01/2074 3,580,560 3,500,000 Deutsche Bank AG 5% 24/06/2020 3,553,550 3,400,000 BHP Billiton Finance Ltd FRN 22/04/2076 3,485,405 3,000,000 Unipol Gruppo SpA 4.375% 05/03/2021 3,120,300 3,000,000 CDP Reti SpA 1.875% 29/05/2022 3,112,050 3,000,000 La Banque Postale SA 4.375% 30/11/2020 3,046,500 3,000,000 Cooperatieve Rabobank UA FRN 26/05/2026 3,039,000 3,000,000 CNP Assurances FRN 14/09/2040 3,034,200 3,000,000 Nationwide Building Society 6.75% 22/07/2020 3,019,200 3,000,000 ABN AMRO Bank NV FRN 30/06/2025 3,003,600 3,000,000 Poste Italiane SpA Zero Coupon 10/12/2024 3,003,000 2,500,000 Schaeffler Finance BV 3.25% 15/05/2025 2,542,500 2,500,000 Aeroporti di Roma SpA 3.25% 20/02/2021 2,533,850 2,500,000 Total SA FRN 31/12/2049 2,532,065 2,400,000 BNP Paribas SA FRN 29/12/2049 2,531,520 2,500,000 Illimity Bank SpA 3.375% 11/12/2023 2,500,000

All Sales

Principal Proceeds Amount EUR 7,500,000 Lloyds Banking Group Plc FRN 31/12/2049 7,534,250 3,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 3,509,755 1,900,000 Banca Monte dei Paschi di Siena SpA 2.875% 16/04/2021 1,932,376 500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 502,260

775 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Europe Equity

Largest Purchases

Principal Cost Amount EUR 154,893 Nestle SA 15,110,583 43,416 ASML Holding NV 11,850,430 6,380 Amazon.com Inc 11,744,069 236,442 Micron Technology Inc 11,346,920 3,552,311 Banco Santander SA 11,047,415 35,426 Roche Holding AG 10,640,362 79,044 SAP SE 9,528,104 121,927 Novartis AG 8,860,357 123,888 Danone SA 7,529,812 330,685 Infineon Technologies AG 7,496,528 4,462,044 Vodafone Group Plc 7,215,076 50,475 Microsoft Corp 7,073,945 44,138 salesforce.com Inc 7,052,500 96,989 Prosus NV 6,872,069 1,473,307 HSBC Holdings Plc 6,856,893 271,362 Vivendi SA 6,400,348 188,331 British American Tobacco Plc 6,330,689 155,022 Koninklijke Philips NV 6,300,414 281,792 STMicroelectronics NV 6,292,486 113,854 BASF SE 5,924,811

Largest Sales

Principal Proceeds Amount EUR 163,148 Nestle SA 15,719,101 46,965 Roche Holding AG 14,047,105 6,380 Amazon.com Inc 12,657,206 8,977 Alphabet Inc 11,635,720 236,442 Micron Technology Inc 10,783,689 462,076 AXA SA 9,345,890 9,014 Adyen NV 9,261,291 2,159,291 BP Plc 8,722,364 79,386 SAP SE 8,721,161 427,634 Infineon Technologies AG 8,623,686 21,417 LVMH Moet Hennessy Louis Vuitton SE 8,597,221 59,486 Volkswagen AG Pref 8,444,135 95,633 AstraZeneca Plc 8,228,744 2,011,579 Banco Bilbao Vizcaya Argentaria SA 8,042,862 92,387 Sanofi 7,825,540 50,475 Microsoft Corp 7,782,127 654,118 UniCredit SpA 7,591,679 320,139 STMicroelectronics NV 7,571,955 2,666,959 Banco Santander SA 7,505,871 123,888 Danone SA 7,460,618 44,138 salesforce.com Inc 7,314,867 24,967 ASML Holding NV 7,286,609 897,823 ING Groep NV 7,171,639 5,106,841 Vodafone Group Plc 7,030,562

776 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA U.S. Equity

Largest Purchases

Principal Cost Amount EUR 4,277 Amazon.com Inc 8,960,875 44,198 Apple Inc 6,664,875 35,398 Microsoft Corp 5,719,167 257,490 Dropbox Inc 4,797,257 3,594 Alphabet Inc 4,589,994 13,824 Netflix Inc 4,368,388 77,725 Advanced Micro Devices Inc 4,220,529 52,359 Activision Blizzard Inc 3,592,944 78,825 Western Digital Corp 3,130,209 16,840 Goldman Sachs Group Inc 2,960,313 6,700 NVIDIA Corp 2,900,189 31,200 Aptiv Plc 2,870,724 15,585 Ecolab Inc 2,705,854 15,725 salesforce.com Inc 2,648,301 12,000 Wix.com Ltd 2,535,601 20,510 PayPal Holdings Inc 2,516,738 21,877 Walmart Inc 2,437,562 52,425 Agios Pharmaceuticals Inc 2,423,098 345,760 General Electric Co 2,370,415 34,570 Church & Dwight Co Inc 2,365,081 19,415 Target Corp 2,332,522 9,132 Biogen Inc 2,292,170 31,650 Expeditors International of Washington Inc 2,280,701 12,632 Clorox Co 2,259,137 12,780 Burlington Stores Inc 2,222,038 58,260 Comcast Corp 2,183,782 4,930 Boston Beer Co Inc 2,033,220 16,801 PepsiCo Inc 2,017,582 7,099 Intuit Inc 1,958,796 17,230 Walt Disney Co 1,897,777 16,738 Procter & Gamble Co 1,854,939 4,900 Thermo Fisher Scientific Inc 1,852,674 8,720 Amgen Inc 1,786,110 12,780 Eli Lilly and Co 1,749,885

Largest Sales

Principal Proceeds Amount EUR 39,010 Apple Inc 10,377,664 59,700 Microsoft Corp 10,353,124 91,200 Procter & Gamble Co 9,943,732 2,970 Amazon.com Inc 7,516,825 14,340 Netflix Inc 5,258,277 3,850 Alphabet Inc 4,872,475 27,300 McDonald’s Corp 4,579,121 20,026 Estee Lauder Companies Inc 3,178,209 23,700 Walmart Inc 2,730,684 20,000 PayPal Holdings Inc 2,479,907 75,900 Twitter Inc 2,423,954 58,100 Exxon Mobil Corp 2,417,791 40,144 Intel Corp 2,134,768 15,000 Citrix Systems Inc 1,948,386 41,558 Cisco Systems Inc 1,817,381 19,500 Garmin Ltd 1,709,103 23,200 Church & Dwight Co Inc 1,706,656 16,000 Walt Disney Co 1,683,489 2,800 Boston Beer Co Inc 1,678,299 26,900 Logitech International SA 1,601,972 31,770 Oracle Corp 1,550,187 16,900 Best Buy Co Inc 1,494,379

777 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA U.S. Equity (continued)

Principal Proceeds Amount EUR 12,900 Square Inc 1,491,654 76,076 Cheesecake Factory Inc 1,407,751 20,200 Paychex Inc 1,325,869 62,908 Yelp Inc 1,316,081 4,900 Intuit Inc 1,257,469 5,700 Home Depot Inc 1,251,731 10,300 PepsiCo Inc 1,230,433

778 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Asia/Pacific Equity

Largest Purchases

Principal Cost Amount EUR 98,444 iShares Core MSCI Japan IMI UCITS ETF 3,660,364 275,000,000 Japan Government Five Year Bond 0.1% 20/03/2021 2,329,388 30,200 SoftBank Group Corp 1,498,846 54,900 Nexon Co Ltd 1,228,588 17,200 Sony Corp 1,115,983 256,800 Z Holdings Corp 1,103,093 27,400 Hitachi Ltd 851,913 50,700 Olympus Corp 847,065 100,000,000 Japan Government Ten Year Bond 1.2% 20/12/2020 839,540 9,300 Hoya Corp 816,940 47,300 SUMCO Corp 768,130 78,624 Fortescue Metals Group Ltd 727,709 40,100 Yamato Holdings Co Ltd 721,353 27,500 KDDI Corp 695,520 13,900 Murata Manufacturing Co Ltd 681,919 51,246 Australia & New Zealand Banking Group Ltd 646,306 62,300 Panasonic Corp 621,859 52,374 National Australia Bank Ltd 603,985 2,800 Tokyo Electron Ltd 596,637 18,645 Wesfarmers Ltd 518,387 2,706 CSL Ltd 494,859 16,500 Itochu Techno-Solutions Corp 483,933 221,746 Telstra Corp Ltd 478,964 36,100 NTT Data Corp 466,317

Largest Sales

Principal Proceeds Amount EUR 275,000,000 Japan Government Five Year Bond 0.1% 20/03/2021 2,331,554 23,900 Murata Manufacturing Co Ltd 1,301,146 21,600 Sony Corp 1,282,450 44,100 Hitachi Ltd 1,242,626 30,500 iShares Core MSCI Japan IMI UCITS ETF 1,196,985 243,000 Z Holdings Corp 1,090,703 30,600 Takeda Pharmaceutical Co Ltd 984,150 60,100 Yamato Holdings Co Ltd 982,049 100,000,000 Japan Government Ten Year Bond 1.2% 20/12/2020 852,576 20,700 SoftBank Group Corp 850,985 35,900 Nexon Co Ltd 835,254 6,800 Oriental Land Co Ltd 814,614 31,700 KDDI Corp 789,972 25,100 Taisei Corp 744,206 3,000 Tokyo Electron Ltd 711,999 10,200 Hitachi High-Technologies Corp 687,021 21,000 Seven & i Holdings Co Ltd 672,459 8,500 Hoya Corp 671,727 41,100 Pan Pacific International Holdings Corp 667,880 46,600 Hitachi Metals Ltd 657,899 11,200 M3 Inc 650,485 10,200 Toyota Motor Corp 615,369 18,500 NTT DOCOMO Inc 572,274 1,300 SMC Corp 550,338 2,907 CSL Ltd 536,897 14,200 Recruit Holdings Co Ltd 498,240 60,600 AIA Group Ltd 483,747 7,742 Rio Tinto Ltd 466,964 37,200 Astellas Pharma Inc 450,514 37,300 Softbank Corp 444,665 18,531 BHP Group Ltd 420,173 5,608 Macquarie Group Ltd 407,559

779 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Global Equity Value*

Largest Purchases

Principal Cost Amount EUR 14,100 Siemens AG 1,199,411 6,500 Microsoft Corp 1,076,204 12,210 AbbVie Inc 991,904 22,040 BNP Paribas SA 975,248 3,000 Apple Inc 917,807 24,684 eBay Inc 865,947 236,683 BP Plc 810,917 8,970 Alexion Pharmaceuticals Inc 802,288 28,580 Kroger Co 795,719 112,390 General Electric Co 792,319 15,743 Mondelez International Inc 763,632 265,362 Tesco Plc 691,686 31,960 Enterprise Products Partners LP 673,421 7,542 Medtronic Plc 663,540 41,460 Volvo AB 663,203 12,330 Unilever NV 650,210 5,000 VMware Inc 598,878 13,797 Magellan Midstream Partners LP 593,102 33,492 GlaxoSmithKline Plc 579,544 23,250 Corteva Inc 575,230

Largest Sales

Principal Proceeds Amount EUR 13,880 Alexion Pharmaceuticals Inc 1,386,279 42,468 Kroger Co 1,159,185 11,460 Apple Inc 1,152,887 6,500 Microsoft Corp 1,149,402 29,166 eBay Inc 1,139,468 24,808 BNP Paribas SA 1,062,774 11,458 Siemens AG 970,260 24,726 Cisco Systems Inc 943,502 764 Alphabet Inc 920,138 10,220 Medtronic Plc 895,739 7,409 Citrix Systems Inc 883,099 49,152 Williams Cos Inc 864,399 17,890 Mondelez International Inc 860,898 6,361 Johnson & Johnson 799,902 116,290 General Electric Co 793,973 972,870 Centrica Plc 773,916 14,286 Bristol-Myers Squibb Co 773,091 231,987 BP Plc 757,987 16,008 Exxon Mobil Corp 754,325 4,793 Volkswagen AG Pref 687,975 *ANIMA Global Equity changed name to ANIMA Global Equity Value on 27 November 2020.

780 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Emerging Markets Equity

Largest Purchases

Principal Cost Amount EUR 3,900,000 United States Treasury Note/Bond 1.375% 30/09/2020 3,622,036 3,100,000 United States Treasury Note/Bond 1.125% 30/04/2020 2,823,876 1,350,000 United States Treasury Note/Bond 1.25% 31/03/2021 1,151,158 62,805 Lyxor MSCI India UCITS ETF 928,096 3,509 Naspers Ltd 557,059 95,757 Rosneft Oil Co PJSC 549,271 28,150 Reliance Industries Ltd 548,144 57,351 Impala Platinum Holdings Ltd 491,780 7,401 LUKOIL PJSC ADR 465,198 18,669 MMC Norilsk Nickel PJSC ADR 452,520 68,277 Shoprite Holdings Ltd 445,961 22,718 Polymetal International Plc 415,410 1,980 Alibaba Group Holding Ltd ADR 410,272 35,395 Infosys Ltd 388,403 16,884 Housing Development Finance Corp Ltd 378,256 5,973 SK Hynix Inc 356,030 37,094 ICICI Bank Ltd ADR 352,385 32,910 Larsen & Toubro Ltd 348,925 20,700 Meituan Dianping 340,154 126,881 State Bank of India 323,395 29,908 Sberbank of Russia PJSC ADR 305,732 7,729 Samsung Electronics Co Ltd 303,190 49,859 Bharti Airtel Ltd 299,098

Largest Sales

Principal Proceeds Amount EUR 186,733 Lyxor MSCI India UCITS ETF 2,538,715 17,900 Tencent Holdings Ltd 896,656 17,376 Samsung Electronics Co Ltd 764,556 10,023 LUKOIL PJSC ADR 634,928 3,954 Naspers Ltd 604,700 80,025 Shoprite Holdings Ltd 549,993 48,000 Taiwan Semiconductor Manufacturing Co Ltd 517,057 1,521 LG Chem Ltd 515,098 15,623 Shinhan Financial Group Co Ltd 443,182 10,069 LG Electronics Inc 441,674 22,718 Polymetal International Plc 435,528 1,630 Samsung SDI Co Ltd 430,756 37,201 Petroleo Brasileiro SA ADR 424,024 19,563 AngloGold Ashanti Ltd 403,691 9,586 Yum China Holdings Inc 387,952 77,040 Gazprom PJSC ADR 384,521 36,131 Sberbank of Russia PJSC ADR 368,869 13,096 Hana Financial Group Inc 325,358 76,131 Banco Bradesco SA ADR 307,572 1,686,400 Bank Rakyat Indonesia Persero Tbk PT 297,003 3,089 Samsung Electro-Mechanics Co Ltd 284,855 49,859 Bharti Airtel Ltd 278,181 8,773 X5 Retail Group NV GDR 277,379 1,387 Alibaba Group Holding Ltd ADR 266,958 106,984 Xiaomi Corp 265,131 5,167 UltraTech Cement Ltd 264,460 72,000 China Gas Holdings Ltd 262,859 14,500 BYD Co Ltd 261,829

781 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Global Selection *

Largest Purchases

Principal Cost Amount EUR 4,900 Apple Inc 510,034 2,070 Microsoft Corp 377,582 120 Amazon.com Inc 315,628 150 Alphabet Inc 212,563 800 Facebook Inc 178,626 1,400 JPMorgan Chase & Co 142,388 300 NVIDIA Corp 130,856 900 Walt Disney Co 126,193 700 Visa Inc 119,940 400 UnitedHealth Group Inc 110,020 4,300 Bank of America Corp 105,318 1,700 Rio Tinto Plc 103,663 2,400 Comcast Corp 99,161 500 PayPal Holdings Inc 97,546 1,700 Morgan Stanley 94,587 700 Walmart Inc 83,804 900 Nestle SA 83,766 500 Union Pacific Corp 83,045 400 Linde Plc 82,432 1,400 Micron Technology Inc 81,772

Largest Sales

Principal Proceeds Amount EUR 110 NVIDIA Corp 46,996 500 Rio Tinto Plc 30,876 900 Delta Air Lines Inc 29,155 200 Apple Inc 21,557 180 Walmart Inc 21,327 40 Lonza Group AG 20,488 12,000 Barclays Plc 19,508 150 Albemarle Corp 18,109 550 STMicroelectronics NV 16,619 130 QUALCOMM Inc 15,710 40 Thermo Fisher Scientific Inc 15,357 40 O’Reilly Automotive Inc 14,871 50 S&P Global Inc 13,154 50 Autodesk Inc 12,547 50 Vestas Wind Systems A/S 9,846 65 Walt Disney Co 9,407 50 Visa Inc 8,468 30 Docusign Inc 5,761 40 Target Corp 5,739 40 EssilorLuxottica SA 5,166 30 Union Pacific Corp 5,026 30 Pernod Ricard SA 4,803 20 SBA Communications Corp 4,500 30 United Parcel Service Inc 4,212 *This Fund launched on 15 December 2020, see note 22 for further details.

782 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Euro Equity

Largest Purchases

Principal Cost Amount EUR 6,502 LVMH Moet Hennessy Louis Vuitton SE 2,421,791 7,891 adidas AG 1,749,498 5,824 ASML Holding NV 1,714,620 51,934 BNP Paribas SA 1,704,600 17,205 Siemens AG 1,693,024 53,338 Deutsche Post AG 1,624,845 22,912 Airbus SE 1,598,647 8,964 Allianz SE 1,588,515 209,059 Enel SpA 1,495,543 168,760 Telefonaktiebolaget LM Ericsson 1,324,225 50,500 Industria de Diseno Textil SA 1,236,590 36,630 Total SA 1,188,342 621,763 Intesa Sanpaolo SpA 1,144,638 13,872 Prosus NV 1,134,788 22,322 Unilever NV 1,102,557 46,341 Koninklijke Ahold Delhaize NV 1,091,017 7,958 SAP SE 1,053,411 9,367 EssilorLuxottica SA 1,052,768 10,760 Schneider Electric SE 1,040,872 26,926 Koninklijke Philips NV 1,016,621 544,092 Banco Santander SA 1,005,184 8,536 Koninklijke DSM NV 999,852 11,989 Heineken NV 971,838 25,474 Neste OYJ 928,784 6,208 Volkswagen AG Pref 926,566 166,296 ING Groep NV 891,965 68,363 UniCredit SpA 889,926 8,861 Nestle SA 881,072 149,579 Terna Rete Elettrica Nazionale SpA 879,792 12,169 Legrand SA 873,449 9,776 Sanofi 844,729 5,711 Pernod Ricard SA 830,598 31,545 CRH Plc 829,347 89,619 Infrastrutture Wireless Italiane SpA 814,297 76,725 Iberdrola SA 808,016 5,583 Air Liquide SA 756,635 43,121 Infineon Technologies AG 713,941

Largest Sales

Principal Proceeds Amount EUR 63,997 Total SA 2,385,793 44,989 HeidelbergCement AG 2,284,149 52,502 BNP Paribas SA 1,880,314 16,019 Sanofi 1,407,962 3,373 LVMH Moet Hennessy Louis Vuitton SE 1,322,038 11,562 SAP SE 1,308,344 141,534 Eni SpA 1,303,445 11,719 Capgemini SE 1,244,306 7,927 Volkswagen AG Pref 1,187,974 157,633 Enel SpA 1,165,190 582,039 Banco Santander SA 1,140,017 5,987 Allianz SE 1,081,704 104,735 Telefonaktiebolaget LM Ericsson 964,993 120,448 UniCredit SpA 945,780 8,504 Siemens AG 911,347 26,885 Cie de Saint-Gobain 908,139 52,522 AXA SA 861,003 20,739 Umicore SA 837,465 15,633 BASF SE 830,348

783 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Euro Equity (continued)

Principal Proceeds Amount EUR 38,601 Infineon Technologies AG 811,781 7,768 Schneider Electric SE 801,341 348,953 Koninklijke KPN NV 781,056 19,499 Daimler AG 766,350 25,423 CRH Plc 751,772 78,488 Iberdrola SA 750,522 11,914 Bayerische Motoren Werke AG 738,545 17,423 Fresenius SE & Co KGaA 735,234 16,340 Alstom SA 730,484 101,254 ING Groep NV 702,351 22,217 Corbion NV 700,072 12,755 Anheuser-Busch InBev SA 699,745 21,672 Smurfit Kappa Group Plc 688,437 97,489 Credit Agricole SA 677,285 20,667 RWE AG 652,305 5,946 Orsted A/S 647,064 66,708 Tenaris SA 626,104 4,842 Air Liquide SA 605,191 122,373 Telefonica SA 594,444 167,489 Nokia Oyj 593,677 76,911 Repsol SA 581,022 10,077 Danone SA 574,506

784 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Global Currencies

All Purchases

Principal Cost Amount EUR 750,000 United Kingdom Gilt 1.5% 22/01/2021 839,116 88,000,000 Japan Government Ten Year Bond 0.9% 20/06/2022 708,452 5,000,000 Sweden Government Bond 3.5% 01/06/2022 517,215 400,000 United Kingdom Gilt 3.75% 07/09/2020 465,143 350,000 United Kingdom Gilt 3.75% 07/09/2021 404,758 400,000 Canadian Government Bond 0.75% 01/03/2021 275,795 300,000 United States Treasury Note/Bond 8% 15/11/2021 268,297 400,000 Australia Government Bond 5.75% 15/05/2021 245,998 250,000 United States Treasury Note/Bond 1.375% 31/01/2021 230,222 200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 200,497 200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 200,412 200,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/04/2021 200,408 200,000 United States Treasury Note/Bond 2% 15/01/2021 185,208 200,000 United States Treasury Note/Bond 1.5% 31/05/2020 178,507 200,000 United States Treasury Note/Bond 1.125% 30/04/2020 178,276 200,000 United States Treasury Note/Bond 1.375% 30/09/2020 178,242 200,000 United States Treasury Note/Bond 1.125% 30/09/2021 171,696 150,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 150,638 150,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 26/02/2021 150,278

All Sales

Principal Proceeds Amount EUR 400,000 Canadian Government Bond 0.75% 01/03/2021 263,937 400,000 Canadian Government Bond 3.5% 01/06/2020 263,559 150,000 Italy Buoni Poliennali Del Tesoro 0.35% 15/06/2020 150,348 150,000 Italy Buoni Ordinari del Tesoro BOT Zero Coupon 26/02/2021 150,176 1,000,000 Sweden Government Bond 5% 01/12/2020 97,540 50,000 United Kingdom Gilt 2% 22/07/2020 54,610

785 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Variable Rate Bond

All Purchases

Principal Cost Amount EUR 2,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 2,003,080 1,500,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 1,487,952 1,000,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/03/2023 1,019,180 1,000,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 1,001,900 900,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 904,347 800,000 Italy Certificati di Credito Del Tesoro FRN 15/01/2025 838,488 650,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 649,857 600,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 598,992 500,000 Spain Government Bond 0.05% 31/10/2021 500,000 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/09/2020 499,355

All Sales

Principal Proceeds Amount EUR 2,050,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 2,056,408 1,800,000 Italy Certificati di Credito Del Tesoro FRN 15/07/2023 1,815,999 1,250,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 1,218,588 1,000,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/03/2023 1,024,120 1,000,000 Italy Buoni Poliennali Del Tesoro 0.9% 01/08/2022 1,016,260 1,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 1,000,644 850,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 852,090 800,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2025 800,632 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/09/2020 500,305 400,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 402,970 300,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 299,871

786 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Hybrid Bond

Largest Purchases

Principal Cost Amount EUR 3,000,000 AT&T Inc FRN 31/12/2099 3,003,700 2,000,000 BP Capital Markets Plc FRN 31/12/2099 2,064,630 2,000,000 Akelius Residential Property AB FRN 17/05/2081 2,000,000 2,000,000 Eni SpA NC5.25 FRN 31/12/2099 1,988,060 1,900,000 Veolia Environnement SA FRN 31/12/2099 1,887,760 1,574,000 Enel SpA FRN 10/01/2074 1,753,121 2,000,000 Scentre Group Trust 2 FRN 24/09/2080 1,690,832 1,500,000 SSE Plc FRN Class B 31/12/2099 1,635,693 1,500,000 SSE Plc FRN Class A 31/12/2099 1,536,265 1,500,000 La Poste SA FRN 31/12/2099 1,513,650 1,500,000 BP Capital Markets Plc FRN 31/12/2099 1,500,000 1,500,000 Eni SpA NC9 FRN 31/12/2099 1,496,400 1,500,000 EnBW Energie Baden-Wuerttemberg AG FRN 29/06/2080 1,489,500 900,000 Virgin Media Secured Finance Plc 6.25% 28/03/2029 1,127,427 1,000,000 Volkswagen International Finance NV FRN 31/12/2099 1,083,600 1,000,000 JT International Financial Services BV FRN 04/07/2081 1,000,000 1,000,000 Lenzing AG FRN 31/12/2099 1,000,000 1,000,000 Ypso Finance Bis 4% 15/02/2028 1,000,000 1,000,000 Altice Financing SA 3% 15/01/2028 1,000,000 1,000,000 Fiat Chrysler Automobiles NV 3.375% 07/07/2023 1,000,000 1,000,000 Samhallsbyggnadsbolaget i Norden AB FRN 31/12/2099 1,000,000 1,000,000 Telefonica Europe BV FRN 31/12/2099 1,000,000 1,000,000 Ziggo Bond Co BV 3.375% 28/02/2030 1,000,000 1,000,000 OMV AG FRN 31/12/2099 1,000,000 1,000,000 EDP - Energias de Portugal SA FRN 20/07/2080 997,440 1,000,000 Heimstaden Bostad AB FRN 31/12/2099 993,990 1,000,000 Eurofins Scientific SE 3.75% 17/07/2026 993,360 1,000,000 Klepierre SA 2% 12/05/2029 990,420 1,000,000 Volkswagen International Finance NV FRN 31/12/2099 987,500 1,000,000 Enel SpA FRN 24/09/2073 974,108 1,000,000 Deutsche Bahn Finance GMBH FRN 31/12/2099 965,000 1,000,000 TLG Finance Sarl FRN 31/12/2099 958,750 1,000,000 Autostrade per l’Italia SpA 1.625% 12/06/2023 925,062 1,000,000 Phoenix Group Holding Plc FRN Perpetual 902,894 1,000,000 BP Capital Markets Plc FRN 31/12/2099 891,067 800,000 CPI Property Group SA FRN 31/12/2099 801,705 800,000 Unibail-Rodamco-Westfield SE 698,700 700,000 Galp Energia SGPS SA 2% 15/01/2026 698,278 700,000 BAT Netherlands Finance BV 2.375% 07/10/2024 696,339 700,000 Telstra Corp Ltd 1% 23/04/2030 694,918 700,000 Telia Co AB FRN 11/05/2081 694,834 700,000 Auchan Holding SA 2.875% 29/01/2026 693,973 700,000 Elia Transmission Belgium SA 0.875% 28/04/2030 691,117

Largest Sales

Principal Proceeds Amount EUR 3,000,000 Orange SA FRN 29/12/2049 3,393,800 2,000,000 Orsted A/S FRN 31/12/2099 2,274,500 2,000,000 Vonovia Finance BV FRN 29/12/2049 2,074,750 2,000,000 AES Gener SA FRN 07/10/2079 1,852,638 1,500,000 Total SA (Germany) FRN 29/12/2049 1,578,900 1,500,000 La Poste SA FRN 31/12/2099 1,561,875 1,500,000 Total SA (France) FRN 29/12/2049 1,554,465 1,500,000 Koninklijke KPN NV FRN 31/12/2099 1,528,710 1,000,000 CK Hutchison Group Telecom Finance SA 2% 17/10/2027 1,134,106 1,000,000 Altice France SA 5.875% 01/02/2027 1,075,900 1,000,000 OMV AG FRN 29/12/2049 1,048,750 1,000,000 Fiat Chrysler Automobiles NV 3.375% 07/07/2023 1,011,875 1,000,000 Eurofins Scientific SE 3.75% 12/07/2026 1,008,550

787 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Hybrid Bond (continued)

Principal Proceeds Amount EUR 1,000,000 Altice Financing SA 3% 15/01/2028 1,007,600 1,000,000 Ziggo Bond Co BV 3.375% 28/02/2030 1,004,590 1,000,000 UniCredit SpA FRN 03/05/2025 1,004,500 1,000,000 Banco Bilbao Vizcaya Argentaria SA FRN 29/12/2049 1,001,170 1,000,000 Klepierre SA 2% 12/05/2029 995,980 1,000,000 Deutsche Bahn Finance GmbH FRN 31/12/2099 988,800 1,000,000 Autostrade per l’Italia SpA 1.625% 12/06/2023 988,380 1,000,000 CK Hutchison Group Telecom Finance SA 1.125% 17/10/2028 986,330 1,000,000 Akelius Residential Property AB FRN 17/05/2081 953,850 1,000,000 Phoenix Group Holding Plc FRN 31/12/2099 929,564 700,000 BAT Netherlands Finance BV 2.375% 07/10/2024 720,634 700,000 Auchan Holding SA 2.875% 29/01/2026 718,996 700,000 Elia Transmission Belgium SA 0.875% 28/04/2030 701,808 700,000 Telstra Corp Ltd 1% 23/04/2030 701,370 700,000 Galp Energia SGPS SA 2% 15/01/2026 699,726 700,000 America Movil SAB de CV Zero Coupon 28/05/2020 698,940 700,000 Telefonica Participaciones SAU Zero Coupon 09/03/2021 697,845 700,000 Telecom Italia SpA 1.125% 26/03/2022 657,220 574,000 Enel SpA FRN 10/01/2074 631,400 790,000 Petron Corp FRN 31/12/2099 623,498 500,000 OMV AG FRN 29/12/2049 585,500 500,000 Enel SpA FRN 15/09/2076 575,360 500,000 Naturgy Finance BV FRN 29/11/2049 542,500 500,000 Electricite de France SA 2% 09/12/2049 540,000 1,000,000 Vallourec SA 2.25% 30/09/2024 539,100 500,000 Electricite de France SA FRN 29/01/2049 538,350 450,000 Virgin Media Secured Finance Plc 6.25% 28/03/2029 527,748

788 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Euro Government Bond

Largest Purchases

Principal Cost Amount EUR 15,400,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/08/2030 14,493,963 13,300,000 Italy Buoni Poliennali Del Tesoro 0.6% 15/06/2023 13,192,680 12,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 12,495,980 9,350,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 9,278,210 9,000,000 Spain Government Bond 0.25% 30/07/2024 9,192,420 7,800,000 France Government Bond OAT 1.25% 25/05/2034 9,098,553 8,550,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 8,312,678 7,300,000 France Government Bond OAT 0.25% 25/11/2026 7,529,831 7,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 6,997,360 6,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 6,012,875 4,700,000 Italy Buoni Poliennali Del Tesoro 3% 01/08/2029 5,456,595 5,000,000 Italy Buoni Poliennali Del Tesoro 1.65% 1/12/2030 5,247,966 5,000,000 Cassa Depositi e Prestiti SpA 1.5% 20/04/2023 4,993,450 5,000,000 Hellenic Republic Treasury Bill Zero Coupon 12/03/2021 4,987,900 4,500,000 French Republic Government Bond OAT 0.75% 25/05/2052 4,836,134 4,500,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 4,793,895 4,000,000 Italy Buoni Poliennali Del Tesoro 5.125% 31/07/2024 4,734,000 4,600,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/09/2050 4,697,591 4,550,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 4,503,226 4,500,000 Hellenic Republic Treasury Bill Zero Coupon 11/06/2021 4,488,705 4,000,000 Italy Buoni Poliennali Del Tesoro 1.85% 01/07/2025 4,210,040 4,000,000 France Government Bond OAT Zero Coupon 25/03/2025 4,099,520 4,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 4,011,413 4,000,000 Italy Buoni Poliennali Del Tesoro 0.9% 01/04/2031 4,005,200 4,000,000 Spain Government Bond Zero Coupon 31/01/2025 3,920,440 2,850,000 Belgium Government Bond 1.9% 22/06/2038 3,658,653 3,500,000 Portugal Obrigacoes do Tesouro OT 0.475% 18/10/2030 3,512,640 3,000,000 Netherlands Government Bond 0.5% 15/01/2040 3,500,310 3,000,000 France Government Bond OAT 0.75% 25/05/2028 3,205,200 3,000,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/05/2035 3,161,790 3,000,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 3,000,900 2,800,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 15/08/2050 2,893,300 2,400,000 Spain Government Bond 2.75% 31/10/2024 2,730,288

Largest Sales

Principal Proceeds Amount EUR 14,100,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/08/2030 13,534,204 13,300,000 Italy Buoni Poliennali Del Tesoro 0.6% 15/06/2023 13,235,155 13,850,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 13,106,141 12,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 12,514,224 11,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 11,024,950 10,300,000 France Government Bond OAT 0.25% 25/11/2026 10,678,213 9,000,000 Spain Government Bond 0.25% 30/07/2024 9,060,750 8,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 7,951,180 7,250,000 Italy Buoni Poliennali Del Tesoro 2.1% 15/07/2026 7,815,082 6,400,000 France Government Bond OAT 1.25% 25/05/2034 7,417,970 7,000,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 7,325,920 6,600,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 7,211,318 7,550,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 7,071,048 6,000,000 Italy Buoni Poliennali Del Tesoro 3% 01/08/2029 7,061,880 5,800,000 Spain Government Bond 2.15% 31/10/2025 6,472,568 4,500,000 France Government Bond OAT 1.75% 25/06/2039 5,752,056 4,750,000 Spain Government Bond 1.85% 30/07/2035 5,358,702 5,000,000 France Government Bond OAT 0.1% 01/03/2025 5,318,814 5,000,000 Italy Buoni Poliennali Del Tesoro 1.65% 23/04/2020 4,999,095 5,000,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 4,837,950 4,500,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 4,709,970 4,000,000 Ireland Government Bond 3.4% 18/03/2024 4,560,160 4,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 4,511,638

789 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Euro Government Bond (continued)

Principal Proceeds Amount EUR 4,000,000 Spain Government Bond Zero Coupon 31/01/2025 4,047,440 3,450,000 Spain Government Bond 1.4% 30/07/2028 3,692,954 3,200,000 Spain Government Bond 1.45% 30/04/2029 3,423,854 3,100,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/09/2050 3,379,488 2,500,000 France Government Bond OAT 2% 25/05/2048 3,325,238

790 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Star High Potential Europe

Largest Purchases

Principal Cost Amount EUR 131,600,000 Italy Buoni Ordinari del Tesoro BOT Zero Coupon 30/04/2021 131,876,870 92,700,000 Belgium Government Bond 4.25% 28/09/2021 97,056,015 23,739 Amazon.com Inc 53,293,072 43,000,000 French Republic Government Bond OAT Zero Coupon 25/05/2020 43,070,670 40,000,000 French Republic Government Bond OAT 2.5% 25/10/2020 40,376,400 323,648 Nestle SA 31,959,856 1,670,645 Infineon Technologies AG 31,292,901 611,640 Micron Technology Inc 27,658,968 81,636 Roche Holding AG 26,280,817 121,346 Alibaba Group Holding Ltd ADR 23,756,613 22,000,000 Belgium Government Bond 3.75% 28/09/2020 22,443,160 1,420,470 Peugeot SA 21,768,504 142,925 Volkswagen AG Pref 21,198,395 294,180 Prosus NV 21,128,203 256,762 Swiss Re AG 20,768,334 226,867 AstraZeneca Plc 20,577,364 882,238 Vivendi SA 20,511,879 229,860 Siemens AG 20,019,148 624,940 Total SA 19,997,810 641,674 RWE AG 18,837,096

Largest Sales

Principal Proceeds Amount EUR 23,739 Amazon.com Inc 58,166,386 462,836 Nestle SA 44,550,099 128,962 Roche Holding AG 39,228,666 366,188 Sanofi 31,959,557 289,220 Siemens AG 29,524,439 1,534,168 Infineon Technologies AG 28,785,371 121,346 Alibaba Group Holding Ltd ADR 27,344,277 324,112 AstraZeneca Plc 27,101,894 3,307,218 ING Groep NV 26,013,973 19,999 Alphabet Inc 25,960,837 294,180 Prosus NV 24,467,159 1,185,807 AXA SA 23,833,097 173,252 Volkswagen AG Pref 23,712,815 464,941 Micron Technology Inc 20,914,518 536,605 Total SA 19,812,890 115,384 Allianz SE 19,540,728 60,961 ASML Holding NV 19,020,013 46,442 LVMH Moet Hennessy Louis Vuitton SE 18,880,824 93,217 Facebook Inc 18,636,133 17,172 Adyen NV 16,734,919

791 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Star Bond

Largest Purchases

Principal Cost Amount EUR 45,000,000 United States Treasury Note/Bond 1.75% 15/11/2029 45,722,212 30,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 30,075,400 26,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 25,995,320 26,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/09/2020 25,976,654 19,350,000 Italy Buoni Poliennali Del Tesoro 1.85% 01/07/2025 19,848,550 20,000,000 United States Treasury Note/Bond 1.375% 30/04/2020 18,143,395 15,500,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/05/2025 16,176,510 15,000,000 Bundesrepublik Deutschland Bundesanleihe Zero Coupon 05/15/2035 15,835,950 15,050,000 United States Treasury Note/Bond 2.25% 15/02/2027 15,547,084 15,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 30/06/2020 14,998,438 13,000,000 Italy Buoni Poliennali Del Tesoro 0.5% 01/02/2026 13,276,510 10,000,000 United Kingdom Gilt 3.75% 07/09/2021 12,511,363 110,000 iShares EUR High Yield Corp Bond UCITS ETF 11,590,986 13,000,000 United States Treasury Note/Bond 1.375% 15/08/2050 10,673,826 10,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 10,007,834 9,000,000 France Government Bond OAT 1% 25/11/2025 9,678,960 9,500,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 9,620,431 10,000,000 United States Treasury Note/Bond 2.25% 30/04/2021 9,175,613 7,000,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 9,018,457 10,000,000 United States Treasury Note/Bond 0.625% 31/03/2027 8,998,826 8,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 28/09/2022 8,046,510 7,500,000 Italy Buoni Poliennali Del Tesoro 0.6% 15/06/2023 7,427,250 6,600,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/08/2030 6,163,797 5,650,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 5,622,484 5,000,000 Italy Buoni Poliennali Del Tesoro 0.1% 15/05/2023 5,168,869 5,000,000 Bundesobligation Zero Coupon 18/10/2024 5,116,675 90,000 iShares JP Morgan EM Local Government Bond UCITS ETF 4,977,255 54,000 iShares JP Morgan $ EM Bond EUR Hedged UCITS ETF 4,459,320

Largest Sales

Principal Proceeds Amount EUR 31,600,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 31,677,736 16,500,000 Italy Buoni Poliennali Del Tesoro 2.7% 01/03/2047 19,983,450 19,500,000 United States Treasury Inflation Indexed Bonds 0.125% 15/01/2023 19,542,908 20,000,000 United States Treasury Note/Bond 1.375% 30/04/2020 17,693,350 15,000,000 United States Treasury Note/Bond 2.25% 15/02/2027 14,138,490 14,000,000 United States Treasury Note/Bond 2.25% 30/04/2024 13,142,380 12,500,000 United States Treasury Inflation Indexed Bonds 0.625% 15/01/2026 12,721,315 10,000,000 United Kingdom Gilt 3.75% 07/09/2021 12,118,243 9,400,000 United States Treasury Note/Bond 3.375% 15/11/2048 10,747,031 8,200,000 United States Treasury Inflation Indexed Bonds 1% 15/02/2049 10,576,964 110,000 iShares EUR High Yield Corp Bond UCITS ETF 10,183,910 9,000,000 France Government Bond OAT 1% 25/11/2025 9,631,530 10,000,000 United States Treasury Note/Bond 2.25% 30/04/2021 9,090,524 174,000 iShares JP Morgan EM Local Government Bond UCITS ETF 8,888,104 7,500,000 Spain Government Bond 1.3% 31/10/2026 7,888,425 7,500,000 Italy Buoni Poliennali Del Tesoro 1.35% 01/04/2030 7,829,775 920,000,000 Japanese Government CPI Linked Bond 0.1% 10/03/2026 7,811,804 6,000,000 Italy Buoni Poliennali Del Tesoro 3% 01/08/2029 7,187,400 52,000 iShares Core EUR Corp Bond UCITS ETF 6,998,491 5,000,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 6,867,700 5,000,000 United States Treasury Inflation Indexed Bonds 1.75% 15/01/2028 6,314,666 5,000,000 Portugal Obrigacoes do Tesouro OT 2.875% 21/07/2026 5,687,400 5,000,000 United States Treasury Inflation Indexed Bonds 0.875% 15/01/2029 5,219,519 5,000,000 Bundesobligation Zero Coupon 18/10/2024 5,147,800 5,000,000 United States Treasury Inflation Indexed Bonds 0.375% 15/01/2027 4,945,310 54,000 iShares J.P. Morgan USD EM Bond UCITS ETF 4,449,654 2,500,000 Portugal Obrigacoes do Tesouro OT 4.1% 15/02/2045 3,699,800 3,900,000 Brazilian Government International Bond 4.875% 22/01/2021 3,684,246

792 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Smart Volatility Europe

All Purchases

Principal Cost Amount EUR 1,490,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 1,491,580 1,480,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,484,395 1,450,000 Spain Letras Del Tesoro Zero Coupon 08/18/2021 1,457,011 1,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 1,453,365 1,150,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 1,152,180 1,060,000 France Treasury Bill BTF Zero Coupon 04/11/2021 1,066,394 990,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 991,596 540,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/05/2021 541,195 450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 450,567

All Sales

Principal Proceeds Amount EUR 2,430,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 2,431,056 1,980,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 1,980,596 1,960,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 1,961,204 1,750,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 1,750,439 1,480,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,480,682 1,470,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 28/02/2020 1,470,126 1,165,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/01/2020 1,165,255

793 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Smart Volatility Global

All Purchases

Principal Cost Amount EUR 18,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 18,332,451 18,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 18,292,926 17,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 17,541,959 17,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 17,201,026 16,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 16,040,874 14,800,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 14,874,627 14,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 14,019,365 6,400,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 6,405,536 6,000,000 France Treasury Bill BTF Zero Coupon 01/12/2021 6,037,643 5,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 5,314,049 4,100,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 4,106,485 3,600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 3,605,151 3,400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 3,406,346 2,100,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 2,102,520

All Sales

Principal Proceeds Amount EUR 16,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 16,504,430 15,520,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 15,522,832 15,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 15,501,746 14,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 14,003,485 11,910,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/01/2020 11,912,377 11,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 28/02/2020 11,301,526 11,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 11,004,111 10,750,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 10,751,760

794 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Smart Volatility Italy

All Purchases

Principal Cost Amount EUR 2,900,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/05/2020 2,903,042 2,070,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 2,073,798 2,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 1,999,951 1,950,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,954,824 1,750,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 1,754,091 1,550,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/03/2020 1,551,023 1,400,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 1,406,733 430,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/05/2021 430,952 400,000 France Treasury Bill BTF Zero Coupon 05/05/2021 400,967

All Sales

Principal Proceeds Amount EUR 2,950,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 2,950,434 2,900,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/05/2020 2,901,396 2,130,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 2,130,811 2,080,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/01/2020 2,080,393 1,970,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 1,970,380 1,950,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/03/2020 1,950,185 1,770,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/02/2020 1,770,205 1,400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,400,470

795 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Smart Volatility USA

All Purchases

Principal Cost Amount EUR 9,000,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 9,045,478 8,600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 8,608,745 8,600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 8,600,341 8,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 8,469,715 8,400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 8,417,514 8,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 7,995,768 7,500,000 France Treasury Bill BTF Zero Coupon 04/11/2021 7,543,461 6,660,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 6,669,303 5,700,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 5,715,718 5,200,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 5,209,886 4,330,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/04/2020 4,334,273 2,870,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 2,873,709 1,600,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/03/2021 1,661,440 1,550,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 1,658,903 1,020,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 1,021,697 880,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 881,246

All Sales

Principal Proceeds Amount EUR 7,960,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 7,962,156 7,950,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 7,951,704 7,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/04/2020 7,302,344 6,750,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 6,750,897 6,660,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 6,660,948 6,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 6,500,876 5,530,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/01/2020 5,531,091 5,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 5,502,050 4,400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/02/2020 4,400,788

796 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Smart Volatility USA

All Purchases

Principal Cost Amount EUR 12,421,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 12,447,056 12,421,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 12,437,979 11,600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 11,632,941 11,398,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 11,410,734 11,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 11,039,779 10,650,000 Spain Letras Del Tesoro Zero Coupon 08/10/2021 10,702,789 9,738,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 9,750,966 7,514,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 7,525,436 4,412,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 4,419,749 3,402,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 3,406,798 3,361,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 3,365,905 1,405,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2020 1,406,456 1,405,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/03/2020 1,405,629 965,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 966,166 820,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 874,539 823,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/03/2021 851,522

All Sales

Principal Proceeds Amount EUR 4,981,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 4,981,768 4,412,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 4,412,955 3,402,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 3,402,505 3,275,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2020 3,276,100 2,835,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 2,835,520 2,790,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/03/2020 2,790,625 700,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2020 700,046

797 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Credit Opportunities

Largest Purchases

Principal Cost Amount EUR 17,000,000 Bundesobligation Zero Coupon 07/10/2022 17,306,380 10,000,000 Italy Buoni Poliennali Del Tesoro 0.35% 01/02/2025 9,896,900 5,000,000 SoftBank Group Corp 3.125% 19/09/2025 4,983,750 4,700,000 Eni SpA FRN 31/12/2099 4,700,000 4,500,000 Nexi SpA 1.75% 31/10/2024 4,481,000 3,500,000 Fiat Chrysler Automobiles NV 4.5% 07/07/2028 4,002,000 3,500,000 Banca Popolare di Sondrio SCPA FRN 30/07/2029 3,786,625 3,000,000 Volkswagen International Finance NV FRN 31/12/2099 3,095,000 3,000,000 BP Capital Markets Plc FRN 31/12/2099 3,086,250 3,000,000 Allianz SE FRN 31/12/2099 3,000,240 3,000,000 Fiat Chrysler Automobiles NV 3.375% 07/07/2023 3,000,000 3,000,000 Banco de Sabadell SA FRN 11/03/2027 2,994,810 3,000,000 Unibail-Rodamco-Westfield SE 1.375% 04/12/2031 2,992,110 3,000,000 FCA Bank SpA 0.5% 13/09/2024 2,841,250 2,700,000 Autostrade per l’Italia SpA 5.875% 09/06/2024 2,740,365 2,800,000 Webuild SpA 1.75% 26/10/2024 2,669,640 2,500,000 JT International Financial Services BV FRN 07/04/2081 2,541,250 2,500,000 Schaeffler AG 2.75% 12/10/2025 2,500,000 2,500,000 Banca IFIS SpA 1.75% 25/06/2024 2,492,300 2,000,000 Enel SpA FRN 10/09/2075 2,438,473

Largest Sales

Principal Proceeds Amount EUR 12,700,000 Italy Buoni Poliennali Del Tesoro 0.7% 01/05/2020 12,729,591 10,000,000 Italy Buoni Poliennali Del Tesoro 0.35% 01/02/2025 9,824,500 5,000,000 Italy Buoni Poliennali Del Tesoro 2.3% 15/10/2021 5,191,950 4,500,000 Nexi Spa 1.75% 31/10/2024 4,395,100 4,000,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 4,174,200 3,200,000 Thyssenkrupp AG 1.375% 03/03/2022 3,030,500 2,700,000 Autostrade per l’Italia SpA 5.875% 09/06/2024 2,875,500 2,500,000 SoftBank Group Corp 3.125% 19/09/2025 2,537,500 2,000,000 Bank of Ireland 10% 19/12/2022 2,537,500 2,500,000 Thyssenkrupp AG 2.875% 22/02/2024 2,534,515 2,500,000 LHC3 Plc 4.125% 15/08/2024 2,528,600 2,400,000 Grifols SA 1.625% 15/02/2025 2,379,150 2,200,000 Intesa Sanpaolo SpA FRN 29/12/2049 2,278,200 2,000,000 Electricite de France SA FRN 29/01/2049 2,218,000 2,000,000 BAT Netherlands Finance BV 2.375% 07/10/2024 2,147,640 2,000,000 Fiat Chrysler Automobiles NV 3.375% 07/07/2023 2,132,500 2,000,000 Crown European Holdings SA 2.25% 01/02/2023 2,093,800 2,000,000 Bundesobligation Zero Coupon 05/04/2024 2,065,900 2,000,000 Clarios Global LP / Clarios US Finance Co 4.375% 15/05/2026 2,025,200 2,000,000 Ball Corp 0.875% 15/03/2024 2,005,000 2,000,000 Banco BPM SpA 1.625% 18/02/2025 1,999,600 2,000,000 BPER Banca 1.875% 07/07/2025 1,995,500 2,000,000 Fnac Darty SA 1.875% 30/05/2024 1,988,300 2,000,000 OCI NV 3.125% 01/11/2024 1,960,000 1,900,000 Goodyear Europe BV 3.75% 15/12/2023 1,928,690 2,000,000 Webuild SpA 1.75% 26/10/2024 1,868,000 2,000,000 Caixa Geral de Depositos SA 1.25% 25/11/2024 1,835,500 2,000,000 ING Groep NV FRN 29/12/2049 1,806,385 1,500,000 William Hill Plc 4.875% 07/09/2023 1,642,974 1,750,000 Banco Santander SA FRN 29/09/2049 1,627,500 1,500,000 Auchan Holding SA 2.625% 30/01/2024 1,595,205 1,600,000 Bankia SA FRN 31/12/2099 1,589,900 1,600,000 Tenneco Inc 4.875% 15/04/2022 1,586,560 1,500,000 Saipem Finance International BV 2.75% 05/04/2022 1,536,825 1,500,000 Mediobanca Banca di Credito Finanziario SpA 5% 15/11/2020 1,515,000

798 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Star High Potential Italy

Largest Purchases

Principal Cost Amount EUR 1,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 1,503,481 182,000 Enel SpA 1,364,932 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/11/2021 1,306,065 160,000 Mediobanca Banca di Credito Finanziario SpA 1,161,004 104,000 Poste Italiane SpA 971,071 913,000 Italy Buoni Poliennali Del Tesoro 0.65% 01/11/2020 914,883 435,000 Intesa Sanpaolo SpA 694,064 52,000 Assicurazioni Generali SpA 688,907 70,000 Infrastrutture Wireless Italiane SpA 660,374 160,000 Unipol Gruppo SpA 586,790 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 500,992 9,000 EXOR NV 496,085 41,000 Fiat Chrysler Automobiles NV 486,332 18,300 STMicroelectronics NV 469,836 16,000 Banca Generali SpA 429,447 38,000 FinecoBank Banca Fineco SpA 428,409 50,000 Banca Mediolanum SpA 305,691 75,000 Snam SpA 304,305 50,000 Terna Rete Elettrica Nazionale SpA 297,338 16,000 Prysmian SpA 294,804 4,000 Worldline SA 283,655 15,000 Nexi SpA 232,872 220,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 219,849 100,000 Iren SpA 217,809 45,000 Pirelli & C SpA 184,051

Largest Sales

Principal Proceeds Amount EUR 7,000,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 7,226,987 2,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/03/2020 2,001,500 3,300,000 Telecom Italia SpA Pref 1,400,824 95,000 Buzzi Unicem SpA Pref 1,311,237 120,000 UniCredit SpA 1,218,700 585,000 Intesa Sanpaolo SpA 1,068,209 1,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 1,003,460 83,000 Fiat Chrysler Automobiles NV 855,301 89,000 Poste Italiane SpA 801,727 65,000 Eni SpA 742,134 41,000 Assicurazioni Generali SpA 637,442 600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 601,173 600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 601,030 77,000 Enel SpA 589,912 55,000 Infrastrutture Wireless Italiane SpA 569,805 90,000 Mediobanca Banca di Credito Finanziario SpA 535,067 110,000 Unipol Gruppo SpA 450,596 13,000 Moncler SpA 429,525 38,000 FinecoBank Banca Fineco SpA 421,398 40,000 Life Care Capital SpA 387,670 14,700 STMicroelectronics NV 384,003 100,000 Saipem SpA 358,499 44,000 ANIMA Iniziativa Italia** 337,260 5,500 EXOR NV 306,267 55,000 Enav SpA 292,460 190,000 Banco BPM SpA 286,472

799 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Trading Fund*

Largest Purchases

Principal Cost Amount EUR 5,550,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 5,565,766 3,648 Alphabet Inc 4,734,360 4,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/04/2021 4,008,371 195,073 iShares MSCI Brazil UCITS ETF USD Dist 3,929,538 19,545 Microsoft Corp 3,140,375 1,303 Amazon.com Inc 3,082,588 2,800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 2,807,363 2,800,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 2,804,113 2,050,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 2,053,695 37,100 Tencent Holdings Ltd 2,046,791 659,006 Xtrackers MSCI Mexico UCITS ETF 2,016,721 14,422 PayPal Holdings Inc 2,003,463 2,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 2,003,156 8,585 Alibaba Group Holding Ltd ADR 1,789,856 37,643 Micron Technology Inc 1,768,750 14,251 Apple Inc 1,654,279 1,750,000 United States Treasury Note/Bond 1.375% 30/09/2020 1,624,483 1,750,000 United States Treasury Note/Bond 1.125% 30/04/2020 1,571,783 65,853 Bank of America Corp 1,503,628 1,750,000 United States Treasury Note/Bond 1.125% 28/02/2021 1,498,125

Largest Sales

Principal Proceeds Amount EUR 195,073 iShares MSCI Brazil UCITS ETF USD Dist 4,172,171 2,803 Alphabet Inc 3,506,542 16,095 Microsoft Corp 2,471,955 2,300,000 Spain Government Bond 4.85% 31/10/2020 2,364,584 659,006 Xtrackers MSCI Mexico UCITS ETF 2,179,232 868 Amazon.com Inc 2,076,586 9,058 Alibaba Group Holding Ltd ADR 1,927,522 10,356 salesforce.com Inc 1,753,331 59,374 Infineon Technologies AG 1,508,845 12,531 Baidu Inc ADR 1,478,938 1,400,000 Italy Buoni Ordinari del Tesoro BOT Zero Coupon 12/06/2020 1,400,168 24,400 Tencent Holdings Ltd 1,381,878 5,116 Mastercard Inc 1,344,272 11,351 Walmart Inc 1,309,778 1,300,000 French Republic Government Bond OAT Zero Coupon 25/05/2020 1,300,806 8,992 PayPal Holdings Inc 1,214,894 13,149 Sanofi 1,124,385 25,119 Micron Technology Inc 1,107,250 1,000,000 Intesa Sanpaolo SpA FRN 31/12/2049 1,097,500 78,602 ArcelorMittal SA 1,058,124 21,990 Citigroup Inc 1,053,676 1,000,000 Commerzbank AG FRN 31/12/2099 1,052,500 * ANIMA Star High Potential Global changed name to ANIMA Trading Fund on 27 November 2020.

800 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Active Selection

Largest Purchases

Principal Cost Amount EUR 638,456 ANIMA Liquidity*/** 3,565,728 250,423 ANIMA Pianeta** 3,228,680 366,840 ANIMA Risparmio** 2,786,000 25,994 AXA World Funds - Defensive Optimal Income 2,685,000 119,781 AB SICAV I - Global Core Equity Portfolio 2,460,389 173,819 ANIMA Fix Obbligazionario Globale** 2,152,000 139,373 ANIMA Global Equity*/** 1,757,633 173,255 ANIMA Star High Potential Europe*/** 1,349,000 265,716 ANIMA Star Bond*/** 1,343,000 57,751 AB SICAV I - European Equity Portfolio 1,111,646 9,876 AXA World Funds - Global Green Bonds 1,084,000 7,038 AXA World Funds - Euro Credit Short Duration 967,000 40,972 ANIMA U.S. Equity*/** 929,253 3,915 AXA World Funds - Global Factors - Sustainable Equity 835,411 13,298 ANIMA Selezione Globale** 833,010 64,493 ANIMA Emergenti** 804,484 81,797 ANIMA Pacifico** 654,908 67,396 ANIMA Obbligazionario Emergente** 564,260 14,599 AB SICAV I - Select U.S. Equity Portfolio 526,743 47,411 ANIMA Obbligazionario Corporate** 482,501 1,937 AXA World Funds - Framlington Eurozone 479,672 38,329 ANIMA Europe Equity*/** 479,432 28,779 ANIMA Iniziativa Europa** 405,898 77,175 ANIMA Flexible Bond*/** 387,000 2,904 AXA World Funds - Global Strategic Bonds 380,562 66,735 ANIMA Smart Volatility Global*/** 378,527 63,110 ANIMA Hybrid Bond*/** 373,143

Largest Sales

Principal Proceeds Amount EUR 658,692 ANIMA Liquidity*/** 3,677,052 399,412 ANIMA Risparmio** 3,088,518 87,023 AB SICAV I - Select U.S. Equity Portfolio 2,992,348 134,774 AB SICAV I - European Equity Portfolio 2,740,480 25,250 AXA World Funds - Defensive Optimal Income 2,676,991 211,723 ANIMA Fix Obbligazionario Globale** 2,652,340 207,461 ANIMA Global Equity*/** 2,473,682 161,173 ANIMA Emergenti** 2,071,118 233,032 ANIMA Pacifico** 1,822,065 55,067 AB SICAV I - Eurozone Equity Portfolio 1,538,073 24,424 ANIMA Selezione Globale** 1,523,257 72,842 ANIMA U.S. Equity*/** 1,466,401 110,603 ANIMA Pianeta** 1,390,263 5,659 AXA World Funds - Framlington Eurozone 1,342,498 35,858 ANIMA America** 1,053,468 62,346 AB SICAV I - Global Core Equity Portfolio 1,018,566 169,148 ANIMA Star Bond*/** 869,356 81,038 ANIMA Star High Potential Europe*/** 681,591 43,485 ANIMA Iniziativa Europa** 657,863 1,758 AXA World Funds - Global Factors - Sustainable Equity 390,627 *The indicated holdings are cross holdings in the Company. **The indicated holdings are managed by ANIMA SGR S.p.A.

801 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Smart Dividends Europe

Largest Purchases

Principal Cost Amount EUR 1,960,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 1,962,412 1,960,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 1,961,926 1,930,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,933,832 1,560,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 1,561,635 1,560,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 1,560,223 1,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 1,502,547 1,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/10/2020 1,449,660 1,080,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 1,081,621 1,070,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 1,072,963 1,050,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 1,053,006 780,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 780,140 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 499,815 22,545 National Grid Plc 222,071 3,539 Hexagon AB 214,401 3,634 Novozymes A/S 173,726 2,398 Fresenius Medical Care AG & Co KGaA 170,332 22,458 Sage Group Plc 168,948 1,446 Kerry Group Plc 163,722 9,610 Red Electrica Corp SA 161,605 5,251 Experian Plc 160,750

Largest Sales

Principal Proceeds Amount EUR 1,960,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 1,960,746 1,960,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 1,960,670 1,772,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,773,613 1,560,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 1,560,325 1,560,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 1,560,286 1,540,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 28/02/2020 1,540,521 1,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/10/2020 1,450,734 1,299,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 1,299,243 1,100,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2020 1,100,708 700,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 700,977 640,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/01/2020 640,164 552,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 553,072 300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 300,265 26,177 National Grid Plc 282,785 280,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 280,910 280,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 280,597 1,436 Sartorius Stedim Biotech 279,760 16,750 SSE Plc 264,460 6,504 L E Lundbergforetagen AB 252,978 4,910 Hexagon AB 251,530

802 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Flexible Bond

Largest Purchases

Principal Cost Amount EUR 7,500,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 8,669,561 7,500,000 United States Treasury Note/Bond 2.25% 30/04/2021 6,865,130 7,500,000 United States Treasury Note/Bond 1.25% 31/01/2020 6,747,762 4,500,000 Bundesobligation Zero Coupon 18/10/2024 4,605,015 5,000,000 United States Treasury Note/Bond 1.375% 30/04/2020 4,538,521 3,300,000 United Kingdom Gilt 3.75% 07/09/2021 4,128,750 4,000,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 4,050,708 2,000,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 2,576,702 2,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 26/02/2021 2,504,438 2,400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 2,407,894 2,300,000 Italy Buoni Poliennali Del Tesoro 0.35% 01/02/2025 2,254,920 19,500 iShares EUR High Yield Corp Bond UCITS ETF 2,058,830 1,600,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 1,592,208 1,500,000 United States Treasury Inflation Indexed Bonds 0.75% 15/02/2045 1,565,969 24,000 iShares JP Morgan EM Local Government Bond UCITS ETF 1,327,268 1,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/06/2021 1,204,752 14,000 iShares JP Morgan $ EM Bond EUR Hedged UCITS ETF 1,156,120 1,000,000 Hellenic Republic Treasury Bill Zero Coupon 31/07/2020 1,000,260 1,000,000 UniCredit SpA FRN 31/12/2099 1,000,000 1,000,000 Hellenic Republic Treasury Bill Zero Coupon 29/01/2021 999,910 500,000 AXA SA FRN 16/01/2054 761,429

Largest Sales

Principal Proceeds Amount EUR 7,500,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 8,620,635 7,600,000 United States Treasury Inflation Indexed Bonds 0.25% 15/01/2025 7,507,269 7,500,000 United States Treasury Note/Bond 2.25% 30/04/2021 7,004,295 6,150,000 United States Treasury Inflation Indexed Bonds 0.375% 15/01/2027 6,082,731 6,000,000 Italy Buoni Poliennali Del Tesoro 0.5% 20/04/2023 6,070,178 4,500,000 Bundesobligation Zero Coupon 18/10/2024 4,633,020 5,000,000 United States Treasury Note/Bond 1.375% 30/04/2020 4,542,500 4,200,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 4,210,332 3,300,000 United Kingdom Gilt 3.75% 07/09/2021 3,997,264 3,700,000 Italy Buoni Poliennali Del Tesoro 0.1% 15/05/2022 3,968,693 21,000 iShares Core EUR Corp Bond UCITS ETF 2,826,767 54,000 iShares JP Morgan EM Local Government Bond UCITS ETF 2,795,501 2,000,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 2,445,488 1,850,000 United States Treasury Inflation Indexed Bonds 0.875% 15/02/2047 2,224,425 2,350,000 United States Treasury Note/Bond 1.625% 15/08/2029 2,133,681 19,500 iShares EUR High Yield Corp Bond UCITS ETF 1,908,465 1,500,000 United States Treasury Inflation Indexed Bonds 0.75% 15/02/2045 1,762,598 1,450,000 United States Treasury Note/Bond 3.375% 15/11/2048 1,691,941 1,500,000 Spain Government Bond 1.3% 31/10/2026 1,633,095 1,600,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 1,597,232 850,000 Portugal Obrigacoes do Tesouro OT 4.1% 15/02/2045 1,350,608 14,000 iShares J.P. Morgan USD EM Bond UCITS ETF 1,222,060 26,000,000 European Investment Bank 7.75% 30/01/2025 1,089,335

803 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Flexible Income*

Largest Purchases

Principal Cost Amount EUR 3,800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/11/2020 3,803,596 3,100,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/01/2021 3,104,288 2,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 2,303,034 2,250,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 2,253,475 1,750,000 Spain Government Bond 0.05% 31/01/2021 1,753,288 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 1,301,567 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 1,301,054 1,200,000 Intesa Sanpaolo SpA FRN 29/12/2049 1,256,040 1,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/12/2020 1,201,426 600,000 Lloyds Banking Group Plc FRN 31/12/2049 608,700 500,000 Spain Government Bond 5.5% 30/04/2021 516,950 500,000 Spain Letras Del Tesoro Zero Coupon 13/11/2020 500,293 400,000 BHP Billiton Finance Ltd FRN 22/04/2076 408,720 400,000 Standard Chartered Plc FRN 21/10/2025 403,000 300,000 Volkswagen International Finance NV FRN 29/03/2049 303,900 300,000 Banco BPM SpA 6% 05/11/2020 303,120 300,000 SSE Plc FRN 29/12/2049 302,325 300,000 Total SA FRN 31/12/2049 302,250 300,000 Barclays Plc FRN 11/11/2025 301,355 250,000 Spain Government Bond 0.75% 30/07/2021 252,515

Largest Sales

Principal Proceeds Amount EUR 3,800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/11/2020 3,802,800 3,100,000 Italy Buoni Ordinari Del Tesoro BOT Zero coupon 29/01/2021 3,104,570 2,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 2,302,972 2,300,000 United States Treasury Note/Bond 0.125% 15/01/2023 2,300,968 1,850,000 Italy Buoni Poliennali Del Tesoro 2.7% 01/03/2047 2,261,105 2,250,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 2,253,502 2,400,000 United States Treasury Note/Bond 2.75% 30/09/2020 2,132,755 1,600,000 Italy Buoni Poliennali Del Tesoro 3% 01/08/2029 1,922,752 1,750,000 Spain Government Bond 0.05% 31/01/2021 1,753,132 1,330,000 United States Treasury Note/Bond 3.375% 15/11/2048 1,668,022 1,450,000 European Financial Stability Facility 0.5% 20/01/2023 1,489,672 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 1,301,178 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 1,300,122 1,200,000 Intesa Sanpaolo SpA FRN 29/12/2049 1,206,000 1,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/12/2020 1,201,360 115,000,000 Japanese Government CPI Linked Bond 0.1% 10/03/2024 996,765 115,000,000 Japanese Government CPI Linked Bond 0.1% 10/03/2027 970,785 115,000,000 Japanese Government CPI Linked Bond 0.1% 10/03/2025 966,130 700,000 United States Treasury Inflation Indexed Bonds 1% 15/02/2049 863,057 90,000,000 Japanese Government CPI Linked Bond 0.1% 10/03/2026 757,159 90,000,000 Japanese Government CPI Linked Bond 0.1% 10/09/2024 756,056 750,000 United States Treasury Note/Bond 2.25% 30/04/2024 686,705 450,000 Deutsche Bundesrepublik Inflation Linked Bond 0.1% 15/04/2046 671,896 550,000 Portugal Obrigacoes do Tesouro OT 2.875% 21/07/2026 647,482 600,000 Lloyds Banking Group Plc FRN 31/12/2049 610,620 350,000 Portugal Obrigacoes do Tesouro OT 4.1% 15/02/2045 589,858 500,000 Spain Government Bond 5.5% 30/04/2021 516,740 500,000 Austria Government Bond Zero Coupon 15/07/2023 509,250 500,000 Spain Letras Del Tesoro Zero Coupon 13/11/2020 500,250 *This Fund was terminated on 8 October 2020, see note 22 for further details.

804 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Infrastructure*

All Purchases

Principal Cost Amount EUR 15,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 15,222,048 11,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 11,220,468 9,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 9,021,739 9,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 9,019,765 9,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 9,015,805 9,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 9,015,401 5,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 5,311,076 5,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 5,310,216 5,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/12/2020 5,305,993 5,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 5,210,112 5,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 5,006,692 5,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/11/2020 5,005,802 5,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/05/2020 4,998,418 5,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/07/2020 4,997,947 3,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2020 3,202,404

Largest Sales

Principal Proceeds Amount EUR 15,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 15,220,936 12,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 12,204,458 11,200,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 11,202,519 9,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/08/2021 9,029,649 9,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 9,007,005 1,386,801 EDP - Energias de Portugal SA 5,892,168 5,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 5,313,841 5,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 5,312,732 5,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/12/2020 5,305,194 5,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/11/2020 5,003,347 4,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 4,001,800 15,475 NextEra Energy Inc 3,610,871 836,336 3i Infrastructure Plc 2,878,615 137,992 ERG SpA 2,844,637 517,821 Enav SpA 2,764,728 133,466 Williams Cos Inc 2,502,588 8,643 Canadian Pacific Railway Ltd 2,041,979 89,380 ASTM SpA 1,859,895 16,454 American Water Works Co Inc 1,850,338 160,033 SES SA 1,819,340 65,377 Ferrovial SA 1,766,150 90,075 Masmovil Ibercom SA 1,763,231 166,000 E.ON SE 1,717,941 11,720 Crown Castle International Corp 1,570,755 15,346 Entergy Corp 1,568,208 *This Fund was terminated on 20 October 2020, see note 22 for further details.

805 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Solution 2022-I

All Purchases

Principal Cost Amount EUR 5,700,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 5,708,632 3,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2021 3,450,258 2,000,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 2,084,640 72,822 iShares Core MSCI Europe UCITS ETF 1,580,496 48,913 ANIMA Selezione Europa** 1,096,000 967,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 967,766 47,728 Xtrackers Spain UCITS ETF 963,054 47,720 AXA Rosenberg Pan-European Equity Alpha Fund 900,000 3,291 AXA World Funds - Framlington Europe 827,083 650,000 Italy Buoni Poliennali Del Tesoro 5% 01/03/2022 694,766 686,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 683,681 48,533 iShares FTSE MIB UCITS ETF EUR Dist 544,138 500,000 FCA Bank SpA 1% 21/02/2022 506,215 350,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 346,916 10,600 Lyxor FTSE MIB UCITS ETF 242,179 28,602 ANIMA Italia** 143,011

All Sales

Principal Proceeds Amount EUR 240,219 AXA Rosenberg Pan-European Equity Alpha Fund 4,127,999 3,150,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2020 3,153,338 203,702 ANIMA Europe Equity*/** 2,493,475 110,767 ANIMA Selezione Europa** 2,110,691 2,000,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 1,989,360 26,970 iShares Core MSCI Europe UCITS ETF 1,464,795 15,251 Lyxor IBEX 35 DR UCITS ETF 1,231,398 1,100,000 Italy Buoni Poliennali Del Tesoro 2.3% 15/10/2021 1,133,919 36,000 iShares Core MSCI Europe UCITS ETF 809,467 37,350 Lyxor FTSE MIB UCITS ETF 766,470 31,600 Xtrackers Spain UCITS ETF 718,164 650,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/03/2023 658,195 26,679 ANIMA Geo Italia** 655,377 5,205 AXA World Funds - Framlington Italy 502,728 320,000 Italy Buoni Poliennali Del Tesoro 4.75% 01/09/2021 334,595 *The indicated holdings are cross holdings in the Company. **The indicated holdings are managed by ANIMA SGR S.p.A.

806 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Solution 2022-II

All Purchases

Principal Cost Amount EUR 1,730,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,734,698 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 1,299,122 117,497 iShares FTSE MIB UCITS ETF EUR Dist 1,293,272 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 1,002,183 950,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 990,204 110,889 ANIMA Italia* 568,395 300,000 Italy Buoni Poliennali Del Tesoro 5% 01/03/2022 332,145 13,000 Lyxor FTSE MIB UCITS ETF 296,980

All Sales

Principal Proceeds Amount EUR 104,483 Anima Geo Italia* 2,501,521 22,151 AXA World Funds - Framlington Italy 2,055,555 117,116 iShares FTSE MIB UCITS ETF EUR Dist 1,485,509 54,162 Lyxor FTSE MIB UCITS ETF 1,153,567 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 1,001,263 1,000,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 994,680 690,000 Italy Buoni Poliennali Del Tesoro 4.5% 01/05/2023 774,630 600,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 626,004 300,000 Italy Buoni Poliennali Del Tesoro 5.5% 01/09/2022 342,702 250,000 Unione di Banche Italiane SpA 1% 22/07/2022 254,213 200,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 207,052 100,000 Barclays Plc 1.5% 01/04/2022 100,094 100,000 Banco BPM SpA 2% 08/03/2022 97,510 *The indicated holdings are managed by ANIMA SGR SpA.

807 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Solution 2022-III

All Purchases

Principal Cost Amount EUR 4,050,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 4,053,547 1,929,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 1,923,040 59,561 SPDR S&P Euro Dividend Aristocrats UCITS ETF 1,150,485 33,239 Xtrackers MSCI North America High Dividend Yield UCITS ETF 1,055,843 22,389 iShares Asia Pacific Dividend UCITS ETF 401,275 8,500 iShares MSCI USA Quality Dividend UCITS ETF 286,685 23,779 SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF 264,250 11,400 iShares STOXX Europe Select Dividend 30 UCITS ETF DE 212,341 34,842 ANIMA Smart Dividends Europe*/** 185,000 3,000 SPDR S&P Pan Asia Dividend Aristocrats UCITS ETF 136,253

All Sales

Principal Proceeds Amount EUR 67,978 iShares MSCI USA Quality Dividend UCITS ETF 2,050,856 39,906 SPDR S&P US Dividend Aristocrats UCITS ETF 1,868,146 102,657 iShares STOXX Europe Select Dividend 30 UCITS ETF DE 1,689,356 80,554 iShares Euro Dividend UCITS ETF 1,490,783 226,000 ANIMA Smart Dividends Europe*/** 1,135,367 29,242 Xtrackers MSCI North America High Dividend Yield UCITS ETF 953,424 23,677 SPDR S&P Pan Asia Dividend Aristocrats UCITS ETF 931,249 43,181 iShares Asia Pacific Dividend UCITS ETF 906,004 43,326 SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF 538,757 500,000 Italy Buoni Poliennali Del Tesoro 1% 15/07/2022 513,293 300,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 310,119 11,000 SPDR S&P Euro Dividend Aristocrats UCITS ETF 224,341 200,000 Standard Chartered PLC 3.625% 23/11/2022 214,640 200,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 200,856 200,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 200,572 100,000 Telecom Italia SpA 5.25% 10/02/2022 104,600 100,000 TDF Infrastructure SASU 2.875% 19/10/2022 101,200 100,000 Banco BPM SpA 2% 08/03/2022 97,510 *The indicated holdings are cross holdings in the Company. **The indicated holdings are managed by ANIMA SGR SpA.

808 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Solution 2023-I

Largest Purchases

Principal Cost Amount EUR 653,710 ANIMA Obbligazionario Corporate** 6,637,143 5,900,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 5,908,748 453,332 ANIMA Pianeta** 5,895,587 700,947 ANIMA Risparmio** 5,394,077 421,668 ANIMA Fix Obbligazionario Globale** 5,220,000 773,460 ANIMA Star Bond*/** 4,015,000 534,642 ANIMA Short Term Corporate Bond*/** 3,056,656 22,011 AXA World Funds - Euro Credit Short Duration 3,023,000 26,089 AXA World Funds - Global Green Bonds 2,875,000 20,013 AXA World Funds - Global Strategic Bonds 2,618,963 113,943 AB SICAV I - European Equity Portfolio 2,397,449 180,239 ANIMA Europe Equity*/** 2,324,706 32,854 Xtrackers MSCI Europe UCITS ETF 1,931,582 7,316 AXA World Funds - Framlington Eurozone 1,926,118 74,780 AB FCP I - Emerging Markets Debt Portfolio 1,703,000 51,537 AB SICAV I - Eurozone Equity Portfolio 1,527,138 4,380 AXA World Funds - Framlington Europe 1,091,756 62,931 ANIMA Iniziativa Europa** 973,000 162,035 ANIMA High Yield Bond*/** 808,160 151,559 ANIMA Flexible Bond*/** 760,000 124,456 ANIMA Hybrid Bond*/** 736,476 88,007 ANIMA Obbligazionario Emergente** 735,117 6,093 AXA World Funds - Framlington Italy 675,000

Largest Sales

Principal Proceeds Amount EUR 828,448 ANIMA Risparmio** 6,450,624 514,664 ANIMA Fix Obbligazionario Globale** 6,442,858 5,900,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 5,908,015 466,610 ANIMA Europe Equity*/** 5,706,401 276,608 AB SICAV I - European Equity Portfolio 5,619,192 184,911 iShares Core MSCI Europe UCITS ETF 4,540,687 72,045 Xtrackers MSCI Europe UCITS ETF 4,368,373 14,600 Amundi Msci Europe UCITS ETF 3,420,352 263,661 ANIMA Pianeta** 3,306,662 549,251 ANIMA Star Bond*/** 2,803,861 93,286 AB SICAV I - Eurozone Equity Portfolio 2,503,509 9,250 AXA World Funds - Framlington Eurozone 2,256,743 100,037 AB FCP I - Emerging Markets Debt Portfolio 2,245,523 154,970 ANIMA Iniziativa Europa** 2,154,442 272,037 ANIMA Euro Equity*/** 2,056,111 121,573 ANIMA Obbligazionario Corporate** 1,265,783 118,521 ANIMA Fix Imprese** 1,123,099 10,171 AXA World Funds - Framlington Italy 893,787 6,179 AXA World Funds - Euro Credit Short Duration 848,869 33,119 ANIMA Geo Italia** 700,999 *The indicated holdings are cross holdings in the Company. **The indicated holdings are managed by ANIMA SGR S.p.A.

809 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Solution EM

Largest Purchases

Principal Cost Amount EUR 514,176 ANIMA Obbligazionario Corporate** 5,216,488 5,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 4,994,791 378,089 ANIMA Pianeta** 4,917,052 498,375 ANIMA Risparmio** 3,762,000 304,824 ANIMA Fix Obbligazionario Globale** 3,756,000 724,749 ANIMA Star Bond*/** 3,671,000 539,827 ANIMA Short Term Corporate Bond*/** 3,086,160 503,952 Amundi Msci Emerging Markets UCITS ETF 2,165,854 16,519 AXA World Funds - Global Strategic Bonds 2,163,342 14,448 AXA World Funds - Global Green Bonds 1,600,000 13,600 UBS ETF-MSCI Emerging Markets UCITS ETF 1,273,440 220,079 ANIMA Liquidity*/** 1,226,940 21,876 AB FCP I - Emerging Markets Growth Portfolio 1,077,248 8,449 AXA World Funds - Framlington Emerging Markets 1,044,718 65,255 ANIMA Emergenti** 849,222 37,047 AB FCP I - Emerging Markets Debt Portfolio 848,000 99,692 ANIMA Pacifico** 838,227 5,546 AXA World Funds - Euro Credit Short Duration 763,000 49,629 ANIMA Obbligazionario High Yield** 635,000 125,036 ANIMA Flexible Bond* 627,000 103,748 ANIMA Hybrid Bond*/** 614,036 73,478 ANIMA Obbligazionario Emergente** 613,853 29,999 AB SICAV I - Short Duration High Yield Portfolio 598,201 110,329 ANIMA High Yield Bond* 550,000

Largest Sales

Principal Proceeds Amount EUR 5,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 5,003,643 391,675 ANIMA Fix Obbligazionario Globale** 4,917,052 617,387 ANIMA Risparmio** 4,805,427 97,035 AB FCP I - Emerging Markets Growth Portfolio 4,216,547 958,105 Amundi Msci Emerging Markets UCITS ETF 3,994,733 35,424 AXA World Funds - Framlington Emerging Markets 3,899,066 301,595 ANIMA Emergenti** 3,661,391 33,750 UBS ETF-MSCI Emerging Markets UCITS ETF 2,991,190 231,339 ANIMA Pianeta** 2,902,579 493,073 ANIMA Star Bond*/** 2,512,849 254,932 ANIMA Pacifico** 1,855,826 42,953 Amundi MSCI EM Asia UCITS ETF 1,240,863 220,079 ANIMA Liquidity*/** 1,226,456 100,943 ANIMA Obbligazionario Corporate** 1,054,521 88,737 Amundi MSCI EM Latin America UCITS ETF 1,013,313 59,478 Lyxor MSCI Eastern Europe Ex Russia UCITS ETF 998,973 42,099 AB FCP I - Emerging Markets Debt Portfolio 937,858 66,216 ANIMA Fix Imprese** 615,530 39,208 ANIMA Obbligazionario High Yield** 536,674 23,201 AB SICAV I - Short Duration High Yield Portfolio 430,359 *The indicated holdings are cross holdings in the Company. **The indicated holdings are managed by ANIMA SGR S.p.A.

810 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Italian Bond

Largest Purchases

Principal Cost Amount EUR 2,500,000 Spain Government Bond 0.05% 31/01/2021 2,501,725 2,300,000 Italy Buoni Poliennali Del Tesoro 0.6% 15/06/2023 2,291,628 2,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 2,009,400 2,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 2,002,760 1,900,000 Italy Buoni Poliennali Del Tesoro 1.85% 01/07/2025 1,964,258 1,700,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 1,748,510 1,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 28/09/2022 1,505,765 1,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2021 1,302,813 1,000,000 Italy Buoni Poliennali Del Tesoro 0.9% 01/04/2031 1,001,300 800,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 796,104 650,000 Italy Buoni Poliennali Del Tesoro 3% 01/08/2029 765,563 700,000 Italy Buoni Poliennali Del Tesoro 1.8% 01/03/2041 698,355 650,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 643,318 500,000 Italy Buoni Poliennali Del Tesoro 1.65% 01/12/2030 534,700 500,000 Italy Buoni Poliennali Del Tesoro 0.95% 01/08/2030 501,605 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2021 501,087 425,000 Italy Buoni Poliennali Del Tesoro 1.4% 26/05/2025 425,000 400,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/09/2050 421,598 300,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 346,506 250,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 327,831 250,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 310,700 250,000 Italy Buoni Poliennali Del Tesoro 3.1% 01/03/2040 307,061

Largest Sales

Principal Proceeds Amount EUR 3,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 2,998,934 2,300,000 Italy Buoni Poliennali Del Tesoro 0.6% 15/06/2023 2,352,141 1,800,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 2,007,581 1,740,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 1,793,244 1,450,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 1,450,556 1,200,000 Italy Buoni Poliennali Del Tesoro 2.1% 15/07/2026 1,314,365 1,150,000 Italy Buoni Poliennali Del Tesoro 1.35% 01/04/2030 1,210,375 1,150,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 1,178,801 900,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 922,086 750,000 Italy Buoni Poliennali Del Tesoro 2.05% 01/08/2027 835,815 800,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 809,834 800,000 Spain Government Bond 0.05% 31/01/2021 801,977 650,000 Italy Buoni Poliennali Del Tesoro 3% 01/08/2029 783,365 750,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 751,114 750,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 750,435 600,000 Italy Buoni Poliennali Del Tesoro 2% 01/12/2025 640,338 500,000 Italy Buoni Poliennali Del Tesoro 3.25% 01/09/2046 635,185 550,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 609,673 400,000 Italy Buoni Poliennali Del Tesoro 3.85% 01/09/2049 563,840 550,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 553,388 500,000 Italy Buoni Poliennali Del Tesoro 0.65% 01/11/2020 500,715 300,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 340,749 200,000 Italy Buoni Poliennali Del Tesoro 2.55% 15/09/2041 305,735 300,000 Italy Buoni Poliennali Del Tesoro 1.45% 01/03/2036 298,425

811 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Italian Equity

Largest Purchases

Principal Cost Amount EUR 125,104 Mediobanca Banca di Credito Finanziario SpA 862,015 4,815 DiaSorin SpA 706,207 42,500 FinecoBank Banca Fineco SpA 451,471 4,750 Sanofi 424,015 209,000 Intesa Sanpaolo SpA 367,214 82,500 BPER Banca 293,717 12,773 Banca Generali SpA 293,591 80,348 Unipol Gruppo SpA 283,186 13,000 ACEA SpA 259,185 26,500 Infrastrutture Wireless Italiane SpA 251,974 39,800 Banca Mediolanum SpA 233,080 20,100 Fiat Chrysler Automobiles NV 230,762 21,000 E.ON SE 220,021 9,614 ERG SpA 211,739 35,000 Terna Rete Elettrica Nazionale SpA 204,891 2,950 EXOR NV 186,943 550 Roche Holding AG 178,561 39,400 Pirelli & C SpA 173,447 95,000 A2A SpA 166,534 390,000 Telecom Italia SpA Pref 163,039 1,680 AstraZeneca Plc 161,747 42,000 Planetel SpA 151,291 16,500 TXT e-solutions SpA 148,626 80,000 Societa Sportiva Lazio SpA 148,222 46,500 Cy4gate SpA 146,475 14,173 Technogym SpA 144,088 56,075 Banco di Desio e della Brianza SpA 142,917 95,000 Banco BPM SpA 134,025 30,000 Tecma Solutions SpA 120,000 22,875 Banca Farmafactoring SpA 117,095 10,006 Unieuro SpA 114,421

Largest Sales

Principal Proceeds Amount EUR 560,500 Intesa Sanpaolo SpA 1,026,586 4,815 DiaSorin SpA 818,654 1,058,337 FNM SpA 611,460 60,276 Infrastrutture Wireless Italiane SpA 593,707 6,675 Covivio 548,789 59,426 UniCredit SpA 509,837 48,733 Technogym SpA 434,119 76,500 Mediobanca Banca di Credito Finanziario SpA 418,758 281,000 A2A SpA 334,956 123,000 BPER Banca 328,177 260,000 Banco BPM SpA 315,454 134,165 Iren SpA 309,942 764,786 Telecom Italia SpA 304,717 67,617 Enav SpA 278,604 179,000 Societa Sportiva Lazio SpA 270,954 5,130 Sesa SpA 253,955 39,984 Gefran SpA 253,162 84,463 Banco di Desio e della Brianza SpA 244,204 89,252 Acsm - Agam SpA 235,840 8,746 Italmobiliare SpA 232,747 46,500 Cy4gate SpA 209,001 11,920 Biesse SpA 188,407 10,226 De’ Longhi SpA 176,256 30,500 Terna Rete Elettrica Nazionale SpA 176,217 16,527 Salcef SpA 174,895

812 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Italian Equity (continued)

Principal Proceeds Amount EUR 5,727 Pharmanutra SpA 171,692 75,000 Mediaset SpA 169,092 27,500 Cerved Group SpA 164,200 15,734 FinecoBank Banca Fineco SpA 162,493 86,000 Cairo Communication SpA 161,709 16,500 TXT e-solutions SpA 154,067 9,493 MARR SpA 151,052 28,919 Banca Farmafactoring SpA 149,766

813 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA High Yield Bond

Largest Purchases

Principal Cost Amount EUR 400,000 Petroleos Mexicanos 4.75% 26/02/2029 336,470 300,000 ZF Finance GmbH 2.75% 25/05/2027 302,253 200,000 Electricite de France SA FRN 22/07/2049 257,939 250,000 Intesa Sanpaolo SpA FRN 29/03/2049 250,000 250,000 Intesa Sanpaolo SpA FRN 31/12/2099 236,875 200,000 Fiat Chrysler Automobiles NV 4.5% 07/07/2028 224,750 200,000 Banco BPM SpA FRN 31/12/2099 217,480 200,000 Rolls-Royce Plc 4.625% 16/02/2026 210,250 200,000 Saipem Finance International BV 3.375% 15/07/2026 209,810 200,000 Deutsche Bank AG FRN 29/12/2049 200,750 200,000 Allianz SE FRN 31/12/2099 200,016 200,000 Renault SA 2.375% 25/05/2026 200,000 200,000 Casino Guichard Perrachon SA 6.625% 15/01/2026 200,000 200,000 VZ Vendor Financing II BV 2.875% 15/01/2026 199,680 200,000 Banco de Sabadell SA FRN 31/12/2099 192,000 200,000 Banco Santander SA FRN 31/12/2099 182,500 200,000 Allianz SE FRN 31/12/2099 170,229 200,000 Banco de Sabadell SA FRN 31/12/2099 157,000 200,000 Deutsche Bank AG FRN 29/05/2049 156,750 150,000 Autostrade per l’Italia SpA 2% 12/04/2028 151,308 100,000 HSBC Capital Funding Dollar 1 LP FRN 29/12/2049 144,869 200,000 DNB Bank ASA FRN 29/11/2049 143,521 100,000 Jerrold Finco Plc 4.875% 15/01/2026 118,727

Largest Sales

Principal Proceeds Amount EUR 61,164 ANIMA Obbligazionario High Yield* 811,283 250,000 Intesa Sanpaolo SpA FRN 31/12/2099 249,850 200,000 Pinnacle Bidco Plc 6.375% 15/02/2025 245,265 200,000 Danske Bank A/S FRN 29/10/2049 208,020 200,000 Intesa Sanpaolo SpA FRN 29/12/2049 203,000 200,000 UniCredit SpA FRN 31/12/2099 193,100 200,000 Volkswagen International Finance NV FRN 29/12/2049 189,620 200,000 Barclays Bank Plc FRN 29/03/2049 188,300 200,000 Credit Agricole SA FRN 31/12/2099 186,605 200,000 Barclays Plc FRN 31/12/2099 181,210 200,000 Superior Industries International Inc 6% 15/06/2025 180,000 150,000 Telecom Italia SpA 4% 11/04/2024 162,000 150,000 UGI International LLC 3.25% 01/11/2025 152,475 100,000 Newday Bondco Plc 7.375% 01/02/2024 113,179 100,000 Crown European Holdings SA 3.375% 15/05/2025 110,400 100,000 Very Group Funding Plc 7.75% 15/11/2022 107,267 100,000 La Poste SA FRN 31/12/2099 105,550 100,000 Playtech Plc 4.25% 07/03/2026 104,320 100,000 Naturgy Finance BV FRN 29/11/2049 104,005 100,000 Banca Monte dei Paschi di Siena SpA 4% 10/07/2022 103,250 100,000 Cemex SAB de CV 3.125% 19/03/2026 103,150 100,000 SoftBank Group Corp 5% 15/04/2028 102,760 100,000 Kraton Polymers LLC / Kraton Polymers Capital Corp 5.25% 15/05/2026 102,750 100,000 Deutsche Bank AG 2.75% 17/02/2025 101,548 100,000 Teva Pharmaceutical Finance Netherlands II BV 3.25% 15/04/2022 99,900 100,000 Ziggo BV 2.875% 15/01/2030 99,300 100,000 Telefonica Europe BV FRN 31/12/2099 99,150 100,000 Tenneco Inc 5% 15/07/2024 99,030 100,000 Lloyds Bank Plc FRN 29/12/2049 98,057 100,000 Sunshine Mid BV 6.5% 15/05/2026 97,125 100,000 SGL Carbon SE 4.625% 30/09/2024 95,030 100,000 Autostrade per l’Italia SpA 1.625% 12/06/2023 93,550 100,000 Banco Santander SA FRN 29/09/2049 93,000

814 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA High Yield Bond (continued)

Principal Proceeds Amount EUR 100,000 Garrett LX I Sarl / Garrett Borrowing LLC 5.125% 15/10/2026 84,750 100,000 Cirsa Finance International Sarl 4.75% 22/05/2025 84,275 100,000 Motion Bondco DAC 4.5% 15/11/2027 83,510 100,000 Aegon NV FRN 29/07/2049 71,250 50,000 Orano SA 4.875% 23/09/2024 57,802 *The indicated holdings are managed by ANIMA SGR S.p.A.

815 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Bond 2022 Opportunities

Largest Purchases

Principal Cost Amount EUR 1,800,000 Credito Valtellinese SpA 2% 27/11/2022 1,824,740 1,800,000 Ford Motor Credit Co LLC 5.875% 02/08/2021 1,518,066 1,200,000 Banca Monte dei Paschi di Siena SpA 4% 10/07/2022 1,250,224 1,216,940 Teva Pharmaceutical Finance Netherlands II BV 0.375% 25/07/2020 1,213,660 1,000,000 UniCredit SpA 6.95% 31/10/2022 1,132,163 1,100,000 Thyssenkrupp AG 1.375% 03/03/2022 1,090,622 1,100,000 Schaeffler AG 1.125% 26/03/2022 1,081,442 1,000,000 Banco BPM SpA 2% 08/03/2022 1,021,100 1,000,000 Teva Pharmaceutical Finance Netherlands II BV 3.25% 15/04/2022 1,013,230 1,000,000 UnipolSai Assicurazioni SpA FRN 15/06/2021 1,010,000 900,000 Banco BPM SpA 7.125% 01/03/2021 923,850 900,000 Casino Guichard Perrachon SA 1.865% 13/06/2022 834,900 800,000 Autostrade per l’Italia SpA 1.125% 04/11/2021 780,500 800,000 Crown European Holdings SA 0.75% 15/02/2023 772,825 700,000 UniCredit SpA FRN 29/12/2049 755,650 700,000 Bulgarian Energy Holding EAD 4.875% 02/08/2021 745,486 700,000 Fiat Chrysler Finance Europe SENC 4.75% 15/07/2022 735,875 700,000 Volvo Car AB 3.25% 18/05/2021 713,350 700,000 Rolls-Royce Plc 2.125% 18/06/2021 692,650 600,000 Banco BPM SpA 6.375% 31/05/2021 634,574 600,000 Vale SA 3.75% 10/01/2023 621,675 600,000 ArcelorMittal SA 3.125% 14/01/2022 607,593 500,000 Autostrade per l’Italia SpA 6.25% 09/06/2022 591,017 600,000 Volkswagen Bank GmbH FRN 15/06/2021 590,100 600,000 Autostrade per l’Italia SpA 2.875% 26/02/2021 580,500 500,000 National Westminster Bank Plc 6.5% 07/09/21 578,087 550,000 Intrum AB 2.75% 15/07/2022 547,565 500,000 Commerzbank AG 7.75% 16/03/2021 521,250 500,000 International Game Technology Plc 4.75% 15/02/2023 516,324 500,000 Barclays Bank Plc 6% 14/01/2021 514,600 500,000 Iccrea Banca SpA 1.5% 11/10/2022 509,000 500,000 Azimut Holding SpA 2% 28/03/2022 506,250 500,000 FCA Bank SpA 0.625% 24/11/2022 505,450 500,000 Intesa Sanpaolo SpA FRN 29/12/2049 504,500 500,000 Webuild SpA 3.75% 24/06/2021 501,800 500,000 Fiat Chrysler Finance Europe SENC 4.75% 22/03/2021 499,375 500,000 General Motors Financial Co Inc FRN 10/05/2021 493,250 500,000 ADLER Real Estate AG 1.5% 17/04/2022 493,125 500,000 UniCredit Leasing Corp IFN SA 0.502% 18/10/2022 490,300 500,000 Petroleos Mexicanos 2.5% 24/11/2022 489,670 400,000 Enel SpA FRN 10/09/2075 487,695 500,000 Algeco Global Finance Plc 6.5% 15/02/2023 487,000 500,000 Barclays Bank Plc 7.625% 21/11/2022 469,366 500,000 General Motors Financial Co Inc FRN 26/03/2022 468,370 500,000 Mediobanca Banca di Credito Finanziario SpA FRN 04/03/2022 448,753 400,000 Volkswagen Leasing GmbH 2.125% 04/04/2022 402,800 400,000 TDC A/S 5% 02/03/2022 401,760 387,333 Inter Media and Communication SpA 4.875% 31/12/2022 399,438

Largest Sales

Principal Proceeds Amount EUR 4,000,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 3,956,666 2,000,000 Hellenic Republic Government Bond 4.375% 01/08/2022 2,172,880 1,000,000 Hellenic Republic Government Bond 3.5% 30/01/2023 1,080,950 1,000,000 Banco BPM SpA 2% 08/03/2022 1,021,920 1,000,000 International Game Technology Plc 4.75% 15/02/2023 1,018,073 1,000,000 Banco BPM SpA 6% 05/11/2020 1,015,437 1,000,000 Mediobanca Banca di Credito Finanziario SpA 5% 15/11/2020 1,005,100 1,000,000 Thyssenkrupp AG 1.375% 03/03/2022 999,930

816 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Bond 2022 Opportunities (continued)

Principal Proceeds Amount EUR 1,000,000 Casino Guichard Perrachon SA 4.561% 25/01/2023 918,800 800,000 OTE Plc 3.5% 09/07/2020 810,960 800,000 General Electric Co 0.375% 17/05/2022 805,760 800,000 Crown European Holdings SA 0.75% 15/02/2023 780,400 700,000 Intesa Sanpaolo SpA FRN 29/12/2049 735,100 600,000 Volkswagen Bank GmbH FRN 15/06/2021 600,246 500,000 Barclays Bank Plc 6% 14/01/2021 506,500 400,000 Enel SpA FRN 10/09/2075 494,112 400,000 Banco BPM SpA 2.75% 27/07/2020 404,400 400,000 Elis SA 1.875% 15/02/2023 398,620 300,000 Catalent Pharma Solutions Inc 4.75% 15/12/2024 308,445 300,000 Dufry One BV 2.5% 15/10/2024 306,000 304,235 Teva Pharmaceutical Finance Netherlands II BV 0.375% 25/07/2020 302,927 300,000 EC Finance Plc 2.375% 15/11/2022 264,000 400,000 Maxeda DIY Holding BV 6.125% 15/07/2022 236,000 200,000 UGI International LLC 3.25% 01/11/2025 210,600

817 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Global Macro

Largest Purchases

Principal Cost Amount EUR 38,615,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 38,639,517 35,000,000 Spain Letras Del Tesoro Zero Coupon 04/12/2020 35,091,687 30,153,000 Spain Letras Del Tesoro Zero Coupon 15/01/2021 30,240,384 26,366,000 United States Treasury Inflation Indexed Bonds 0.75% 15/07/2028 26,619,547 25,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 25,452,866 23,840,000 United States Treasury Inflation Indexed Bonds 0.375% 15/07/2027 23,854,513 18,263,000 United States Treasury Inflation Indexed Bonds 1.75% 15/01/2028 23,427,135 21,082,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 21,098,302 17,542,000 United States Treasury Inflation Indexed Bonds 0.125% 15/07/2026 17,511,875 17,400,000 Spain Letras Del Tesoro Zero Coupon 14/08/2020 17,427,467 14,271,000 Spain Government Inflation Linked Bond 1.8% 30/11/2024 16,723,661 15,887,000 Spain Letras Del Tesoro Zero Coupon 05/03/2021 15,920,733 14,247,000 France Government Bond OAT 0.1% 01/03/2025 15,515,945 14,945,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 14,967,613 13,311,000 Spain Government Bond 1.4% 30/07/2028 14,648,248 9,919,000 United States Treasury Inflation Indexed Bonds 2.5% 15/01/2029 13,322,865 11,948,000 Spain Government Bond 1.45% 30/04/2029 13,224,974 253,530 UBS ETFs Plc - CMCI Composite SF UCITS ETF 13,187,353 12,797,000 United States Treasury Inflation Indexed Bonds 0.375% 15/01/2027 12,867,031 10,972,000 Deutsche Bundesrepublik Inflation Linked Bond 0.1% 15/04/2026 12,440,425 9,462,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 12,383,905 12,300,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2020 12,307,411 7,661,000 United Kingdom Gilt Inflation Linked 0.125% 22/03/2026 11,501,899 16,459,000 Australia Government Bond 2.25% 21/05/2028 11,197,692 1,301,700,000 Japanese Government CPI Linked Bond 0.1% 10/03/2028 10,832,466 10,653,000 Spain Letras Del Tesoro Zero coupon 11/06/2021 10,690,707 7,755,000 France Government Bond OAT 1.85% 25/07/2027 10,539,477 10,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2021 10,020,474 8,489,000 Spain Government Inflation Linked Bond 0.65% 30/11/2027 9,732,635 1,160,700,000 Japanese Government CPI Linked Bond 0.1% 10/03/2029 9,596,685 8,257,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 9,196,410 4,028,000 United Kingdom Gilt Inflation Linked 1.25% 22/11/2027 9,122,501 8,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 8,003,274 11,056,000 Australia Government Bond 0.75% 21/11/2027 7,702,480 5,885,000 Deutsche Bundesrepublik Inflation Linked Bond 0.5% 15/04/2030 7,325,786 7,000,000 Spain Letras Del Tesoro Zero Coupon 12/06/2020 7,008,525

Largest Sales

Principal Proceeds Amount EUR 37,180,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 37,226,872 35,000,000 Spain Letras Del Tesoro Zero Coupon 04/12/2020 35,062,160 30,532,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 30,551,762 30,153,000 Spain Letras Del Tesoro Zero Coupon 15/01/2021 30,217,313 25,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 25,545,633 16,820,000 United States Treasury Inflation Indexed Bonds 0.75% 15/07/2028 16,905,228 16,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 16,005,523 15,887,000 Spain Letras Del Tesoro Zero Coupon 05/03/2021 15,916,841 15,050,000 United States Treasury Inflation Indexed Bonds 0.375% 15/07/2027 14,961,752 14,945,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 14,959,988 11,610,000 United States Treasury Inflation Indexed Bonds 1.75% 15/01/2028 14,824,707 13,800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2020 13,807,116 10,940,000 United States Treasury Inflation Indexed Bonds 0.125% 15/07/2026 10,853,896 10,653,000 Spain Letras Del Tesoro Zero Coupon 11/06/2021 10,683,746 10,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2021 10,016,942 9,940,000 Spain Letras Del Tesoro Zero Coupon 14/08/2020 9,962,332 197,330 UBS ETFs Plc - CMCI Composite SF UCITS ETF 9,819,341 8,610,000 Spain Government Bond 1.4% 30/07/2028 9,464,624 8,060,000 Spain Government Inflation Linked Bond 1.8% 30/11/2024 9,413,944 8,050,000 France Government Bond OAT 0.1% 01/03/2025 8,762,306

818 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Global Macro (continued)

Principal Proceeds Amount EUR 7,690,000 Spain Government Bond 1.45% 30/04/2029 8,511,622 6,290,000 United States Treasury Inflation Indexed Bonds 2.5% 15/01/2029 8,435,716 7,960,000 United States Treasury Inflation Indexed Bonds 0.375% 15/01/2027 7,970,556 5,004,000 United Kingdom Gilt Inflation Linked 0.125% 22/03/2026 7,481,984 883,000,000 Japanese Government CPI Linked Bond 0.1% 10/03/2028 7,467,517 6,410,000 Deutsche Bundesrepublik Inflation Linked Bond 0.1% 15/04/2026 7,288,767 5,570,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 7,195,088 10,250,000 Australia Government Bond 2.25% 21/05/2028 6,847,678 792,000,000 Japanese Government CPI Linked Bond 0.1% 10/03/2029 6,650,853 6,500,000 Spain Letras Del Tesoro Zero Coupon 06/03/2020 6,505,528 4,573,000 France Government Bond OAT 1.85% 25/07/2027 6,219,509 2,609,000 United Kingdom Gilt Inflation Linked 1.25% 22/11/2027 5,886,726 5,050,000 Spain Government Inflation Linked Bond 0.65% 30/11/2027 5,754,071 4,940,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 5,391,935 4,004,000 United States Treasury Note/Bond 3.375% 15/11/2048 5,345,821

819 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2023-I

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 1,552 LVMH Moet Hennessy Louis Vuitton SE 645,625 92,426 Nokia Oyj 343,579 12,281 Grifols SA 336,776 27,400 Iberdrola SA 310,765 161,668 CaixaBank SA 270,317 24,400 CNH Industrial NV 164,038 6,876 Enagas SA 148,849 31,800 Banco Santander SA 118,623 42,989 International Consolidated Airlines Group SA 106,234 739 Air Liquide SA 83,994 8,783 Telefonica SA 52,676 1,344 Repsol SA 11,065 *There were no purchases during the financial year.

820 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2023-II

All Purchases

Principal Cost Amount EUR 5,300,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 4,780,808

All Sales

Principal Proceeds Amount EUR 17,111,000 Italy Buoni Poliennali Del Tesoro 0.1% 15/05/2023 17,724,904 11,194,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 12,808,754 6,230,000 Spain Government Bond 5.4% 31/01/2023 7,191,787 2,578,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 2,691,307 1,271,000 Italy Buoni Poliennali Del Tesoro 0.1% 15/05/2022 1,349,855

821 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2023-III

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 4,122,000 Italy Buoni Poliennali Del Tesoro 2.6% 15/09/2023 5,377,494 4,433,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 5,147,987 2,759,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 2,832,268 1,695,000 Italy Buoni Poliennali Del Tesoro 0.1% 15/05/2023 1,771,972 366,000 Spain Government Bond 0.35% 30/07/2023 373,999 *There were no purchases during the financial year.

822 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2023-IV

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 5,011,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 5,082,544 1,919,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 2,223,007 1,525,000 Italy Buoni Poliennali Del Tesoro 2.6% 15/09/2023 1,971,476 199,000 Spain Government Bond 0.35% 30/07/2023 203,153 *There were no purchases during the financial year.

823 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2024-I

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 4,272,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 4,349,310 739,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 856,904 601,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 772,405 217,000 Spain Government Bond 4.4% 31/10/2023 253,773 *There were no purchases during the financial year.

824 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2024-II

All Purchases

Principal Cost Amount EUR 11,525,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 11,646,202

All Sales

Principal Proceeds Amount EUR 11,447,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 12,445,521 3,218,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 3,272,222 2,408,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 2,716,681 676,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 845,165 171,000 Spain Government Bond 4.8% 31/01/2024 204,360

825 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2024-III

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 7,208,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 7,382,931 3,885,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 5,146,666 3,996,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 4,613,912 1,201,000 Spain Government Bond 3.8% 30/04/2024 1,401,275 76,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 78,885 *There were no purchases during the financial year.

826 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2024-IV

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 6,107,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 6,292,287 3,622,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 4,794,067 3,993,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 4,632,320 579,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 627,015 *There were no purchases during the financial year.

827 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2024-V

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 15,746,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 17,487,476 8,928,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 11,626,930 9,683,000 Italy Buoni Poliennali Del Tesoro 0.35% 24/10/2024 9,663,232 4,445,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 5,116,109 353,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 409,605 *There were no purchases during the financial year.

828 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2025-I

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 8,737,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 10,280,375 7,564,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 8,420,225 1,473,000 Spain Government Bond 1.6% 30/04/2025 1,603,517 501,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 606,574 *There were no purchases during the financial year.

829 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview 2027-I

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 10,402,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 12,053,735 9,590,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 10,683,320 6,783,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 8,822,112 6,570,000 Italy Buoni Poliennali Del Tesoro 2.2% 01/06/2027 7,231,317 360,000 Spain Government Bond 1.3% 31/10/2026 390,928 *There were no purchases during the financial year.

830 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview-II

All Purchases

Principal Cost Amount EUR 17,082,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 19,465,406 17,082,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 19,378,554 12,155,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 16,217,369 8,869,000 Spain Government Bond 4.65% 30/07/2025 11,315,877 9,198,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 8,916,012 657,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 769,944 657,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 690,245

All Sales

Principal Proceeds Amount EUR 11,535,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/01/2020 11,537,968 10,926,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 28/02/2020 10,931,997 10,315,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 10,328,786 10,316,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2020 10,325,643 10,315,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2020 10,325,601 10,318,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/03/2020 10,325,195 1,392,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 1,608,196 696,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 750,244 163,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 198,931 135,000 Spain Government Bond 4.65% 30/07/2025 169,429

831 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview-III

All Purchases

Principal Cost Amount EUR 16,375,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 18,659,761 16,375,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 18,576,503 11,651,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 15,544,926 8,502,000 Spain Government Bond 4.65% 30/07/2025 10,847,625 8,817,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 8,546,692 630,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 738,302 630,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 661,879

All Sales

Principal Proceeds Amount EUR 10,569,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/03/2020 10,578,879 10,574,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/01/2020 10,576,721 9,982,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 9,995,341 9,982,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2020 9,992,259 9,984,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/03/2020 9,990,963 9,985,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 28/02/2020 9,990,481 1,441,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 1,683,095 711,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 770,783 113,000 Spain Government Bond 4.65% 30/07/2025 141,818 114,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 139,130

832 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview-IV

All Purchases

Principal Cost Amount EUR 22,313,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 22,073,955 19,620,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 21,910,020 14,619,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 19,277,777 13,447,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/05/2020 13,457,580 13,447,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2020 13,456,283 11,156,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 12,478,987 12,262,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 12,278,292 12,260,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 12,274,854 11,613,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 11,626,000 11,613,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 11,624,708 8,462,000 Spain Government Bond 2.15% 31/10/2025 9,444,797 385,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 448,576 385,000 Italy Buoni Poliennali Del Tesoro 2% 01/12/2025 409,331

All Sales

Principal Proceeds Amount EUR 13,447,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2020 13,448,386 13,447,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/05/2020 13,447,187 12,260,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2020 12,257,581 12,262,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 12,254,651 11,613,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 11,613,434 11,613,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/06/2020 11,612,445 1,235,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 1,435,802 666,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 652,107 226,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 273,722 20,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 20,636

833 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview-V*

All Purchases

Principal Cost Amount EUR 9,678,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 10,799,934 9,674,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 10,771,106 10,790,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 10,721,661 8,097,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 8,098,969 8,097,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/07/2020 8,098,871 5,676,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 5,677,260 4,824,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 4,825,279 2,976,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 3,899,555 3,837,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 3,839,351 3,836,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 3,838,699 3,348,000 Spain Government Bond 2.15% 31/10/2025 3,744,020 558,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 541,510 186,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 215,607

All Sales

Principal Proceeds Amount EUR 8,097,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/08/2020 8,099,362 8,097,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/07/2020 8,098,289 5,676,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/09/2020 5,679,360 4,824,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 4,827,729 3,837,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 3,840,841 3,836,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 3,840,252 427,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 501,872 123,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 125,607 *This Fund launched on 28 February 2020, see note 22 for further details.

834 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview-VI*

All Purchases

Principal Cost Amount EUR 53,935,000 Italy Buoni Poliennali Del Tesoro 1.3% 15/05/2028 57,445,490 59,930,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 57,047,126 53,693,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 56,646,802 42,402,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 42,432,130 42,385,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/10/2020 42,421,966 37,145,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 37,183,170 29,353,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 29,390,522 24,676,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 24,714,834 23,116,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 23,152,403 13,382,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 16,721,358 14,666,000 Spain Government Bond 1.95% 30/04/2026 16,319,122 3,647,000 Italy Certificati di Credito Del Tesoro FRN 15/09/2025 3,504,364 500,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 549,915

All Sales

Principal Proceeds Amount EUR 42,402,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 42,406,825 42,385,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/10/2020 42,400,118 37,145,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 37,162,526 29,353,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/12/2020 29,379,738 24,676,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 24,714,032 23,116,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 23,145,731 2,286,000 Italy Buoni Poliennali Del Tesoro 1.25% 15/09/2032 2,728,594 188,000 Italy Buoni Poliennali Del Tesoro 0.4% 15/05/2030 195,885 *This Fund launched on 12 May 2020, see note 22 for further details.

835 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview-VII*

All Purchases

Principal Cost Amount EUR 30,784,000 Portugal Treasury Bill Zero Coupon 19/03/2021 30,827,034 23,332,000 Spain Letras Del Tesoro Zero Coupon 12/02/2021 23,355,350 18,201,000 France Treasury Bill BTF Zero Coupon 27/01/2021 18,214,644 18,050,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/01/2021 18,072,803 17,581,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 17,601,100 17,325,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 17,349,538 13,113,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 13,141,360 12,213,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 12,233,931 12,026,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/04/2021 12,051,177 9,263,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/12/2020 9,272,207

All Sales

Principal Proceeds Amount EUR 18,050,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 29/01/2021 18,058,864 17,581,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 17,586,791 13,113,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 13,135,522 12,213,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 12,227,943 12,026,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 30/04/2021 12,046,690 9,263,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/12/2020 9,267,742 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 1,000,703 *This Fund launched on 29 July 2020, see note 22 for further details.

836 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Brightview-VIII**

All Purchases

Principal Cost Amount EUR 230,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/04/2021 230,515

All Sales*

Principal Proceeds Amount EUR *There were no sales during the financial year. **This Fund launched on 30 September 2020, see note 22 for further details.

837 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Orizzonte Europa 2022

All Purchases***

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 946,000 Italy Buoni Poliennali Del Tesoro 2.6% 15/09/2023 1,235,329 591,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 680,952 294,000 Autostrada Brescia Verona Vicenza Padova SpA 2.375% 20/03/2020 293,821 31,000 ANIMA Short Term Corporate Bond*/** 177,373 *The indicated holdings are cross holdings in the Company. **The indicated holdings are managed by ANIMA SGR S.p.A. ***There were no purchases during the financial year.

838 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato

All Purchases***

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 566,000 Italy Buoni Poliennali Del Tesoro 2.6% 15/09/2023 729,549 88,645 ANIMA Short Term Corporate Bond*/** 504,826 320,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 431,824 100,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 119,108 100,000 Italy Buoni Poliennali Del Tesoro 4.5% 01/05/2023 113,668 *The indicated holdings are cross holdings in the Company. **The indicated holdings are managed by ANIMA SGR S.p.A. ***There were no purchases during the financial year.

839 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Orizzonte Sostenibile 2023

All Purchases*

Principal Cost Amount EUR

All Sales

Principle Proceeds Amount EUR 7,011,066 Italy Buoni Poliennali Del Tesoro 2.6% 15/09/2023 8,564,292 4,993,000 Spain Government Bond 5.4% 31/01/2023 5,795,879 4,062,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 4,714,878 1,197,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 1,559,525 996,000 France Government Bond OAT Zero Coupon 25/03/2023 1,012,357 *There were no purchases during the financial year.

840 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Orizzonte Benessere 2023

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 12,034,000 Bundesrepublik Deutschland Bundesanleihe 1.5% 15/05/2023 12,892,730 7,838,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 10,291,826 8,420,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 9,726,610 1,067,000 Italy Buoni Poliennali Del Tesoro 2.6% 15/09/2023 1,388,551 *There were no purchases during the financial year.

841 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Orizzonte Consumi 2023

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 1,663,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 2,211,011 1,535,000 Spain Government Bond 4.4% 31/10/2023 1,799,776 438,000 Italy Buoni Poliennali Del Tesoro 2.6% 15/09/2023 571,435 361,000 France Government Bond OAT 4.25% 25/10/2023 419,708 182,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 210,312 *There were no purchases during the financial year.

842 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Orizzonte Energia 2023

All Purchases*

Principal Cost Amount EUR

All Sales

Principal Proceeds Amount EUR 10,345,000 Italy Buoni Poliennali Del Tesoro 2.6% 15/09/2023 13,468,350 12,321,000 Bundesrepublik Deutschland Bundesanleihe 2% 15/08/2023 13,468,158 9,705,000 Italy Buoni Poliennali Del Tesoro 3.1% 15/09/2026 12,840,881 4,243,000 France Government Bond OAT 1.75% 25/05/2023 4,526,435 1,296,000 Italy Buoni Poliennali Del Tesoro 2.35% 15/09/2024 1,497,603 *There were no purchases during the financial year.

843 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Defensive

All Purchases

Principal Cost Amount EUR 594,337 ANIMA Obbligazionario Corporate** 5,998,206 449,471 ANIMA Pianeta** 5,845,373 901,145 ANIMA Short Term Corporate Bond*/** 5,070,141 764,245 ANIMA Liquidity*/** 4,257,499 655,721 ANIMA Hybrid Bond*/** 3,711,186 203,571 ANIMA Obbligazionario High Yield** 2,573,877 249,379 ANIMA Obbligazionario Emergente** 1,930,404 30,313 Anima Liquidita Euro** 1,506,643 88,159 ANIMA Europe Equity*/** 1,084,684 154,515 ANIMA High Yield Bond*/** 791,862 27,590 ANIMA U.S. Equity*/** 670,454 47,151 ANIMA Global Equity*/** 614,562 43,151 ANIMA Emergenti** 557,474 31,074 ANIMA Pacifico** 270,963 4,109 Anima Selezione Globale** 270,963

All Sales

Principal Proceeds Amount EUR 289,967 ANIMA Liquidita Euro I (Class IM)** 14,399,456 2,329,493 ANIMA Liquidity*/** 13,009,723 1,036,628 ANIMA Fix Obbligazionario Euro BT** 9,085,864 543,697 ANIMA Fix Obbligazionario Globale** 6,818,178 416,859 ANIMA Obbligazionario Corporate** 4,363,983 627,219 ANIMA Short Term Corporate Bond*/** 3,562,794 485,031 ANIMA Euro Government Bond*/** 2,613,643 209,841 ANIMA Medium Term Bond*/** 1,669,206 30,313 ANIMA Liquidita Euro I (Class FM)** 1,506,885 105,036 ANIMA Pianeta** 1,318,724 60,841 ANIMA Hybrid Bond*/** 354,361 23,827 ANIMA Obbligazionario High Yield** 323,242 *The indicated holdings are cross holdings in the Company. **The indicated holdings are managed by ANIMA SGR S.p.A.

844 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Zephyr Global

All Purchases

Principal Cost Amount EUR 2,900,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 3,069,787 3,000,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 3,038,990 2,900,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 2,901,628 2,850,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 2,835,128 2,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 2,508,090 2,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 2,009,400 1,750,000 Italy Buoni Poliennali Del Tesoro 1.45% 26/11/2022 1,816,409 1,750,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 1,757,387 1,500,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 1,502,850 1,250,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 1,259,838 1,200,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 1,248,360 1,100,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 1,120,812 1,000,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 1,022,200 800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/08/2020 799,444 212,000 Italy Buoni Poliennali Del Tesoro 1.4% 26/05/2025 212,000

All Sales

Principal Proceeds Amount EUR 3,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 3,003,864 2,500,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 2,515,400 2,500,000 Italy Buoni Poliennali Del Tesoro 0.7% 01/05/2020 2,505,750 2,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 2,503,411 2,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 2,503,271 2,200,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 2,311,100 2,100,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 2,161,278 1,800,000 Italy Buoni Poliennali Del Tesoro 1% 15/07/2022 1,849,032 1,400,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/09/2024 1,599,346 1,400,000 Italy Buoni Poliennali Del Tesoro 0.9% 01/08/2022 1,434,767 1,400,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 1,412,054 1,350,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 1,352,452 1,000,000 Ireland Government Bond 3.4% 18/03/2024 1,137,960 1,100,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 1,127,379 800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/08/2020 800,376 500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 501,370

845 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Zephyr Global Allocation

All Purchases

Principal Cost Amount EUR 4,000,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 4,232,648 4,000,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 4,054,184 4,000,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 4,002,818 4,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 3,978,102 2,250,000 Italy Buoni Poliennali Del Tesoro 1.45% 26/11/2022 2,335,383 2,250,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 2,259,498 2,000,000 Italy Certificati di Credito del Tesoro FRN 15/04/2026 2,003,800 1,500,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 1,528,380 1,500,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 1,511,805 1,500,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 1,507,050 1,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 1,504,854 1,400,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 1,431,080 23,965 Amundi MSCI USA Minimum Volatility Factor UCITS ETF 1,426,070 1,200,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 1,248,360 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/08/2020 999,304 425,000 Italy Buoni Poliennali Del Tesoro 1.4% 26/05/2025 425,000 4,097 Amundi Msci Europe Minimum Volatility Factor UCITS ETF 421,381 1,295 iShares USD Corp Bond UCITS ETF 143,569

All Sales

Principal Proceeds Amount EUR 3,000,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 3,151,500 3,000,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 3,017,400 2,500,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 2,571,366 2,500,000 Italy Buoni Poliennali Del Tesoro 0.9% 01/08/2022 2,562,715 2,500,000 Italy Buoni Poliennali Del Tesoro 0.7% 01/05/2020 2,506,400 2,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 2,503,720 2,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/03/2020 2,501,775 2,000,000 Italy Buoni Poliennali Del Tesoro 1% 15/07/2022 2,054,480 2,000,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 2,017,220 1,700,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/09/2024 1,942,063 1,500,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 1,537,335 1,500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 1,501,790 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/06/2020 1,001,309 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 31/08/2020 1,000,470 15,213 Amundi MSCI USA Minimum Volatility Factor UCITS ETF 841,414 600,000 Italy Buoni Poliennali Del Tesoro 1.45% 15/09/2022 623,814 5,480 iShares USD Corp Bond UCITS ETF 604,223 3,406 Amundi Msci Europe Minimum Volatility Factor UCITS ETF 316,287

846 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Zephyr New*

Largest Purchases

Principal Cost Amount EUR 2,250,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 2,241,330 34,147 Amundi MSCI USA Minimum Volatility Factor UCITS ETF 2,034,572 1,500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 27/11/2020 1,493,275 1,400,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 1,485,080 49,911 Xtrackers MSCI EMU Minimum Volatility UCITS ETF 1,246,703 1,250,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 1,238,298 1,200,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 1,210,850 1,000,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 1,015,606 1,000,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 1,008,054 1,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 1,004,700 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 1,001,259 900,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 955,692 800,000 Italy Buoni Poliennali Del Tesoro 2.5% 01/12/2024 867,056 800,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2025 809,880 800,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 804,755 800,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 799,942 800,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2022 799,901 800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 795,889 700,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 701,330 600,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 624,180 600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 601,772 600,000 Italy Buoni Poliennali Del Tesoro 0.6% 15/06/2023 594,180 500,000 Italy Buoni Poliennali Del Tesoro 1.45% 26/11/2022 509,398 500,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 504,460 500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 28/09/2022 503,405 500,000 Italy Certificati di Credito Del Tesoro FRN 15/07/2023 499,825 500,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/06/2021 497,945 500,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 495,362 400,000 Italy Buoni Poliennali Del Tesoro 1.75% 01/07/2024 424,956 400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 400,854 15,257 iShares Edge MSCI EM Minimum Volatility UCITS ETF 386,839 300,000 Italy Buoni Poliennali Del Tesoro 2.1% 15/07/2026 328,178 300,000 Italy Buoni Poliennali Del Tesoro 1.85% 15/05/2024 319,191 300,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 305,676 300,000 Italy Buoni Poliennali Del Tesoro 0.5% 20/04/2023 303,722 300,000 Spain Government Bond 0.35% 30/07/2023 302,697

All Sales

Principal Proceeds Amount EUR 1,250,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 1,255,612 1,200,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 1,234,092 800,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 806,888 750,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 754,530 600,000 Italy Buoni Poliennali Del Tesoro 0.6% 15/06/2023 613,602 600,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/02/2021 600,716 550,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 577,775 500,000 Italy Buoni Poliennali Del Tesoro 2.5% 01/12/2024 545,225 500,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 503,080 500,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/07/2021 501,375 400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/03/2021 400,563 400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 400,406 300,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 307,467 10,127 Xtrackers MSCI EMU Minimum Volatility UCITS ETF 256,977 3,763 Amundi MSCI USA Minimum Volatility Factor UCITS ETF 219,337 3,386 iShares Edge MSCI EM Minimum Volatility UCITS ETF 88,459 *This Fund launched on 12 February 2020, see note 22 for further details.

847 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA Zephyr Real Assets

Largest Purchases

Principal Cost Amount EUR 2,000,000 Italy Certificati di Credito Del Tesoro FRN 15/10/2024 2,026,268 1,700,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 1,799,035 1,650,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 1,650,975 1,300,000 Italy Certificati di Credito Del Tesoro Zero Coupon 30/05/2022 1,293,286 1,000,000 Italy Buoni Poliennali Del Tesoro 1.45% 26/11/2022 1,037,948 1,000,000 Italy Buoni Poliennali Del Tesoro Zero Coupon 15/01/2024 1,004,700 1,000,000 Italy Buoni Poliennali Del Tesoro 0.45% 22/05/2023 1,004,221 800,000 Italy Certificati di Credito Del Tesoro FRN 15/04/2026 801,520 700,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 713,244 600,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/09/2027 624,180 600,000 Italy Buoni Poliennali Del Tesoro 0.85% 15/01/2027 613,320 500,000 Italy Certificati di Credito Del Tesoro FRN 15/02/2024 503,935 2,317 UBS ETFs Plc - CMCI ex-Agriculture SF UCITS ETF 238,412 13,999 Lyxor Commodities Thomson Reuters/CoreCommodity CRB EX-Energy TR UCITS ETF 226,458 212,000 Italy Buoni Poliennali Del Tesoro 1.4% 26/05/2025 212,000 1,265 iShares USD High Yield Corp Bond UCITS ETF 109,432 917 iShares EUR High Yield Corp Bond UCITS ETF 90,843 66,000 United States Treasury Inflation Indexed Bonds 1.75% 15/01/2028 83,726 588 iShares USD Corp Bond UCITS ETF 65,188 24,000 United Kingdom Gilt Inflation Linked 1.25% 22/11/2027 53,932

Largest Sales

Principal Proceeds Amount EUR 1,500,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/01/2023 1,508,160 1,250,000 Italy Buoni Poliennali Del Tesoro 1.5% 01/06/2025 1,313,125 1,300,000 Italy Buoni Poliennali Del Tesoro 0.7% 01/05/2020 1,303,835 1,000,000 Italy Buoni Poliennali Del Tesoro 3.75% 01/09/2024 1,142,390 1,100,000 Italy Buoni Poliennali Del Tesoro 1% 15/07/2022 1,129,964 1,000,000 Italy Buoni Poliennali Del Tesoro 0.9% 01/08/2022 1,024,915 900,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/10/2023 970,416 900,000 Italy Buoni Poliennali Del Tesoro 0.95% 15/03/2023 925,074 800,000 Italy Certificati di Credito Del Tesoro FRN 15/12/2023 806,888 800,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 13/11/2020 801,453 750,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2020 751,572 700,000 Italy Buoni Poliennali Del Tesoro 1.35% 15/04/2022 713,258 550,000 Ireland Government Bond 3.4% 18/03/2024 627,132 174,200 United States Treasury Inflation Indexed Bonds 1.75% 15/01/2028 229,240 11,482 Lyxor Commodities Thomson Reuters/CoreCommodity CRB EX-Energy TR UCITS ETF 170,281 1,396 iShares USD Corp Bond UCITS ETF 153,964 1,327 UBS ETFs Plc - CMCI ex-Agriculture SF UCITS ETF 122,983 1,184 iShares EUR High Yield Corp Bond UCITS ETF 106,574 1,258 iShares USD High Yield Corp Bond UCITS ETF 105,602 44,677 United Kingdom Gilt Inflation Linked 1.25% 22/11/2027 101,652

848 ANIMA Funds Plc Schedule of Material Portfolio Changes for the financial year ended 31 December 2020 (Unaudited) ANIMA International Bond

Largest Purchases

Principal Cost Amount EUR 3,700,000 United States Treasury Note/Bond 2% 15/02/2023 3,272,373 1,900,000 United States Treasury Note/Bond 5.375% 15/02/2031 2,321,728 2,000,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 2,002,020 200,000,000 Japan Government Ten Year Bond 0.1% 20/03/2026 1,613,999 1,300,000 United States Treasury Note/Bond 2.5% 31/01/2025 1,259,578 700,000 France Government Bond OAT 5.75% 25/10/2032 1,212,637 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 12/11/2021 1,004,460 1,000,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/10/2021 1,004,350 1,000,000 United States Treasury Note/Bond 2% 31/05/2021 932,650 1,000,000 United States Treasury Note/Bond 1.625% 30/06/2020 924,355 800,000 Spain Government Bond 1.3% 31/10/2026 877,294 600,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 617,562 360,000 United Kingdom Gilt 4.75% 07/12/2030 582,565 560,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 561,735 50,000,000 Japan Government Thirty Year Bond 2% 20/03/2042 532,441 300,000 Italy Buoni Poliennali Del Tesoro 6.5% 01/11/2027 427,827 40,000,000 Japan Government Thirty Year Bond 2% 20/12/2033 399,095 300,000 United States Treasury Note/Bond 4.75% 15/02/2037 396,118 200,000 United Kingdom Gilt 4.5% 07/12/2042 389,147 300,000 Italy Buoni Poliennali Del Tesoro 2.45% 01/09/2033 354,980 250,000 United Kingdom Gilt 3.75% 07/09/2021 315,135 30,000,000 Japan Government Thirty Year Bond 1.5% 20/12/2044 296,571 200,000 United States Treasury Note/Bond 4.5% 15/02/2036 255,170

All Sales

Principal Proceeds Amount EUR 1,950,000 Italy Certificati di Credito Del Tesoro Zero Coupon 29/11/2021 1,942,252 900,000 United States Treasury Note/Bond 2.375% 15/05/2027 888,485 500,000 Italy Buoni Poliennali Del Tesoro 2.15% 15/12/2021 514,765 45,000,000 Japan Government Twenty Year Bond 2.1% 20/09/2029 440,272 400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/05/2020 400,375 400,000 Italy Buoni Ordinari Del Tesoro BOT Zero Coupon 14/01/2021 400,182 180,000 Bundesrepublik Deutschland Bundesanleihe 4.75% 04/07/2040 367,020 200,000 United Kingdom Gilt 5% 07/03/2025 291,513 300,000 United States Treasury Note/Bond 2% 31/05/2021 283,225 100,000 United States Treasury Note/Bond 2.5% 15/02/2045 105,234

849 ANIMA Funds Plc Appendix I – UCITS V Directive Annual Report Disclosures (Unaudited)

Remuneration Policy of the Company

The Manager has established, implements and maintains an appropriate remuneration policy which is consistent with and promotes sound and effective risk management and does not induce excessive risktaking which is inconsistent with the risk profile of a Fund. This policy identifies staff members of the Manager involved in the management of each Fund whose professional activities have a material impact on the risk profile of the relevant Fund. The remuneration policy of the Manager shall provide that where it pays its staff performance related pay with respect to the management of any Fund, the following requirements will be applied: a) where remuneration relating to the management of the Fund(s) is performance related, the total amount of remuneration is based on a combination of the assessment of the performance of the individual and of the business unit or the relevant Fund(s) and of the overall results of the Manager, and when assessing individual performance, financial as well as non-financial criteria are taken into account; b) the assessment of performance is based on longer term performance and takes into account the outstanding risk associated with the performance. The assessment of performance may be set in a multi-year framework in order to ensure that the assessment process is based on longer term performance is spread over the business cycle of the Firm; c) the Manager maintains a fully flexible policy on variable remuneration, and variable remuneration may not be paid as a result of negative performance by the relevant individual, the relevant business unit or the Manager itself; d) payments related to the early termination of a contract reflect performance achieved over time and are designed in a way that does not reward failure; e) the assessment of performance-based components of remuneration takes into account outstanding risks associated with the performance.

The remuneration policy of the Manager describes how remuneration and benefits are determined, the persons responsible for awarding such remuneration and benefits and the controls in place to comply with the provisions of the UCITS Directive in relation to remuneration, further details of which are available on www.animasgr.it or, upon request, free of charge from the Manager.

Total remuneration, broken down into the fixed and variable component, accrued for the year 2020, the number of beneficiaries.

Total remuneration, broken down by the categories of ‘‘key personnel’’ (KP), as identified pursuant to Bank of Italy/ConsobJoint Regulation, annex 2.

Total remuneration, broken down into the fixed and variable component, accrued for the year 2020, the number of beneficiaries

Total remuneration Fixed remuneration 2020 Variable remuneration 2020 Number of beneficiaries 26,059,949 17,332,595 8,727,354 263

Total remuneration, broken down by the categories of ‘‘key personnel’’ (KP), as identified pursuant to Bank of Italy/ConsobJoint Regulation, annex 2.

Total remuneration Beneficiaries 2020 Members of the Board of Directors 236,311 General Manager and Heads of the main Business Lines - 4 - 2,349,988 Control Functions (Heads of these functions and cost of related outsourced functions) 1,712,565 Risk Takers 4,661,246

ANIMA Funds Plc 850 ANIMA Funds Plc

ANIMA Liquidity

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 5 11,213 4,326

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 5 0.06 0.05

ANIMA Short Term Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14,198 9,452

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Medium Term Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14,034 9,445

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Funds Plc 851 ANIMA Funds Plc

ANIMA Bond Dollar

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 12,494 8,685

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.07 0.10

ANIMA Global Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14,128 9,452

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Short Term Corporate Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 8,217 3,596

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.05 0.04

ANIMA Funds Plc 852 ANIMA Funds Plc

ANIMA Europe Equity

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 30,261 20,156

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.17 0.23

ANIMA U.S. Equity

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 40,628 11,346

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.23 0.13

ANIMA Asia/Pacific Equity

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 22,977 6,436

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.13 0.07

ANIMA Funds Plc 853 ANIMA Funds Plc

ANIMA Global Equity Value

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 26,681 3,966

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.15 0.05

ANIMA Emerging Markets Equity

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 5 50,181 15,846

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 5 0.29 0.18

ANIMA Global Selection

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 7 24,651 7,846

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 7 0.14 0.09

ANIMA Funds Plc 854 ANIMA Funds Plc

ANIMA Euro Equity

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 24,945 3,581

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.14 0.04

ANIMA Global Currencies

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 14,285 5,526

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.08 0.06

ANIMA Variable Rate Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 5 11,029 2,776

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 5 0.06 0.03

ANIMA Funds Plc 855 ANIMA Funds Plc

ANIMA Hybrid Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 12,297 5,996

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.07 0.07

ANIMA Euro Government Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 20,261 7,646

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.12 0.09

ANIMA Star High Potential Europe

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 98.575 14.726

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.57 0.17

ANIMA Funds Plc 856 ANIMA Funds Plc

ANIMA Star Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 4 49,015 1,576

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 4 0.28 0.02

ANIMA Smart Volatility Europe

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14,198 9,452

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Smart Volatility Global

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14.198 9.452

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Funds Plc 857 ANIMA Funds Plc

ANIMA Smart Volatility Italy

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14,198 9,452

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Smart Volatility USA

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14,198 9,452

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Smart Volatility Emerging Markets

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14,198 9,452

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Funds Plc 858 ANIMA Funds Plc

ANIMA Credit Opportunities

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 5 23,158 15,126

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 5 0.13 0.17

ANIMA Star High Potential Italy

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 31,143 21,216

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.18 0.24

ANIMA Trading Fund

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 27,353 11,246

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.16 0.13

ANIMA Funds Plc 859 ANIMA Funds Plc

ANIMA Active Selection

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 8,856 5,280

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.05 0.06

ANIMA Smart Dividends Europe

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 14,583 9,642

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Flexible Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 4 10,015 1,576

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 4 0.06 0.02

ANIMA Funds Plc 860 ANIMA Funds Plc

ANIMA Flexible Income

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 4 10,015 1,576

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 4 0.06 0.02

ANIMA Infrastructure

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 4 8,800 1,506

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 4 0.05 0.02

ANIMA Solution 2022-I

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 8,973 5,299

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.05 0.06

ANIMA Funds Plc 861 ANIMA Funds Plc

ANIMA Solution 2022-II

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 8,973 5,299

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.05 0.06

ANIMA Solution 2022-III

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 8,973 5,299

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.05 0.06

ANIMA Solution 2023-I

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 8,973 5,299

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.05 0.06

ANIMA Funds Plc 862 ANIMA Funds Plc

ANIMA Solution EM

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 8,973 5,299

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.05 0.06

ANIMA Italian Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 5 14,879 5,226

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 5 0.09 0.06

ANIMA Italian Equity

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 45,528 34,791

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.26 0.40

ANIMA Funds Plc 863 ANIMA Funds Plc

ANIMA High Yield Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 5 32,251 23,326

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 5 0.19 0.27

ANIMA Bond 2022 Opportunities

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 5 14,386 8,976

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 5 0.08 0.10

ANIMA Global Macro

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 8 13,565 9,605

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 8 0.08 0.11

ANIMA Funds Plc 864 ANIMA Funds Plc

ANIMA Brightview 2023-I

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview 2023-II

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview 2023-III

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Funds Plc 865 ANIMA Funds Plc

ANIMA Brightview 2023-IV

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview 2024-I

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview 2024-II

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Funds Plc 866 ANIMA Funds Plc

ANIMA Brightview 2024-III

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview 2024-IV

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview 2024-V

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Funds Plc 867 ANIMA Funds Plc

ANIMA Brightview 2025-I

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview 2027-I

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview-II

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Funds Plc 868 ANIMA Funds Plc

ANIMA Brightview-III

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview-IV

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview-V

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Funds Plc 869 ANIMA Funds Plc

ANIMA Brightview-VI

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview-VII

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Brightview-VIII

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,677 3,170

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.04

ANIMA Funds Plc 870 ANIMA Funds Plc

ANIMA Orizzonte Europa 2022

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,695 3,050

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.03

ANIMA Orizzonte Europa 2023 - Rendimento Bilanciato

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,695 3,050

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.03

ANIMA Orizzonte Sostenibile 2023

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,695 3,050

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.03

ANIMA Funds Plc 871 ANIMA Funds Plc

ANIMA Orizzonte Benessere 2023

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,695 3,050

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.03

ANIMA Orizzonte Consumi 2023

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,695 3,050

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.03

ANIMA Orizzonte Energia 2023

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 6,695 3,050

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.04 0.03

ANIMA Funds Plc 872 ANIMA Funds Plc

ANIMA Defensive

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 9 9,898 6,225

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 9 0.06 0.07

ANIMA Zephyr Global

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 9 14,158 9,430

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 9 0.08 0.11

ANIMA Zephyr Global Allocation

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 9 14,158 9,430

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 9 0.08 0.11

ANIMA Funds Plc 873 ANIMA Funds Plc

ANIMA Zephyr New

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 9 14,158 9,430

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 9 0.08 0.11

ANIMA Zephyr Real Assets

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 9 14,158 9,430

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 9 0.08 0.11

ANIMA International Bond

Total remuneration, broken down into the fixed and variable component, of the personnel involved in managing the Fund’s activities.

Number of beneficiaries Fixed remuneration 2020 Euro Variable remuneration 2020 Euro 6 14,864 5,826

Proportion of total remuneration of personnel attributable to the Fund, with indication of the number of beneficiaries.

Ratio to total fixed Ratio to total variable Number of beneficiaries remuneration 2020 remuneration 2020 6 0.09 0.07

ANIMA Funds Plc 874 ANIMA Funds Plc Appendix II – Securities Financing Transactions Regulations

Securities Financing Transactions Regulations (“SFTR”)

Article 13 of Regulation (EU) 2015/2365 on transparency of securities financing transactions (SFTs) and of reuse and amending Regulation (EU) No 648/2012, requires UCITS management companies/UCITS investment companies/AIFMs to provide the following information on the use made of SFTs and total return swaps (TRSs).

1. Market value of assets engaged in securities financing transactions and the market value of securities on loan as at 31 December 2020 There were no assets engaged in securities financing transactions or securities on loan as at 31 December 2020.

2. Top 10 Counterparties used for the SFT held as at 31 December 2020* There were no SFT held as at 31 December 2020.

3. Settlement/clearing for each SFT There were no SFT held as at 31 December 2020.

4. Maturity tenor of each SFT Securities lending activities For all Funds, the maturity tenor of securities on loan is open, as these are equity positions and are not subject to a contractual maturity date. There was no securities on loan as at 31 December 2020. Total return swaps There were no TRS positions as at 31 December 2020.

5. Type, Quality and Currency of Collateral received in respect of each SFT as at 31 December 2020 All TRS positions are collateralised using cash denominated in Euros, the base currency of the Company. The actual collateral pledged/received for the Company’s TRS positions is not separately identifiable. The Company’s collateral management process is to pledge or receive collateral to each relevant counterparty based on the total net exposure to that counterparty which includes exposures from other FDIs such as forward currency contracts. The total collateral pledged/received as at the reporting date is disclosed in note 17. There was no TRS positions as at 31 December 2020.

6. Ten largest Collateral Issuers (for Collateral received) There was no Collateral received in respect of securities lending activities as at 31 December 2020.

7. Re-investment of Collateral received in respect of each SFT There was no re-hypothecation of Collateral received in respect of reverse repurchase agreements held or securities lending activities during the financial year ended 31 December 2020.

8. Safe-keeping of Collateral received in respect of each SFT State Street Custodial Services (Ireland) Limited is responsible for the safe-keeping of all collateral received in relation to the SFTs held on the Funds.

9. Returns and costs of the SFTs

Total return swaps ANIMA Star High ANIMA Star High ANIMA ANIMA ANIMA Zephyr Potential Europe Potential Italy Infrastructure*** Zephyr Global Real Assets EUR EUR EUR EUR EUR Income received* ----- Gains/Losses (306) 1 4,010 (25,144) 16 Costs incurred** ----- Net returns (306) 1 4,010 (25,144) 16 % of Overall SFT Return 100% 100% 100% 100% 100%

*There was no income in respect of total return swaps during the financial year ended 31 December 2020.

**Costs incurred in relation to total return swaps are not separately identifiable for disclosure within the financial statements.

*** This Fund was terminated on 20 October 2020, see note 22 for further details.

ANIMA Funds Plc 875