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Bnp Paribas Funds Sicav BNP PARIBAS FUNDS SICAV SEMI -ANNUAL REPORT at 30/06/2021 R.C.S. Luxembourg B 33 363 The Theasset asset manager manager for for a changinga changing world world BNP PARIBAS FUNDS SICAV Table of contents Page Organisation 3 Information 5 Financial statements at 30/06/2021 6 Key figures relating to the last 3 years 13 Securities portfolio at 30/06/2021 Aqua 25 Asia ex-Japan Bond 26 Asia ex-Japan Equity 28 Brazil Equity 29 China Equity 30 Consumer Innovators 31 Disruptive Technology 32 Emerging Bond Opportunities 33 Emerging Equity 38 Emerging Multi-Asset Income 39 Energy Transition 45 Euro Equity 47 Euro Mid Cap 48 Europe Dividend 49 Europe Emerging Equity 50 Europe Equity 51 Europe Growth 52 Europe Multi-Asset Income 53 Europe Small Cap 61 Global Convertible 62 Global Environment 65 Global High Yield Bond 66 Global Inflation-Linked Bond 70 Global Low Vol Equity 72 Green Tigers 73 Health Care Innovators 74 India Equity 75 Latin America Equity 76 Local Emerging Bond 78 Russia Equity 80 US Growth 81 US Mid Cap 82 US Short Duration Bond 83 Page 1 BNP PARIBAS FUNDS SICAV Table of contents Page Notes to the financial statements 85 1 No subscription can be received on the basis of the financial statements alone. Subscriptions are only valid if made on the basis of the current prospectus, accompanied by the latest annual report and the most recent semi-annual report, if published thereafter. Page 2 BNP PARIBAS FUNDS SICAV Organisation Registered office 10 Rue Edward Steichen, L-2540 Luxembourg, Grand Duchy of Luxembourg Board of Directors Chairman Mr Pierre MOULIN, Global Head of Products and Strategic Marketing, BNP PARIBAS ASSET MANAGEMENT France, Paris Members Mrs Jane AMBACHTSHEER, Global Head of Sustainability, BNP PARIBAS ASSET MANAGEMENT France, Paris Mr Marnix ARICKX, Chief Executive Officer, BNP PARIBAS ASSET MANAGEMENT Belgium, Brussels Mrs Giorgia D’ANNA, Head of Group Networks Italy and International, BNP PARIBAS ASSET MANAGEMENT France, Paris Mrs Cecile du MERLE, Global Head of Product Engineering, BNP PARIBAS ASSET MANAGEMENT France, Paris Mr Emmanuel COLLINET DE LA SALLE, Head of Group Networks, BNP PARIBAS ASSET MANAGEMENT France, Paris Mrs Marianne HUVE-ALLARD, Head of Brand and Communication, BNP PARIBAS ASSET MANAGEMENT France, Paris Mr Roger MINERS, Global Chief Marketing Officer, BNP PARIBAS ASSET MANAGEMENT UK, London Mr Christian VOLLE, Independent director, Paris, France Company Secretary (non-member of the Board) Mr Stephane BRUNET, Chief Executive Officer, BNP PARIBAS ASSET MANAGEMENT Luxembourg, Luxembourg Management Company BNP PARIBAS ASSET MANAGEMENT Luxembourg, 10 Rue Edward Steichen, L-2540 Luxembourg, Grand Duchy of Luxembourg BNP PARIBAS ASSET MANAGEMENT Luxembourg is a Management Company as defined in Chapter 15 of the Luxembourg Law of 17 December 2010 concerning undertakings for collective investment, as amended. The Management Company performs the functions of administration, portfolio management and marketing duties. Portfolio management is delegated to: Effective Investment Manager BNP Paribas Group management entities (generally named BNP PARIBAS ASSET MANAGEMENT) • Alfred Berg Kapitalforvaltning AS Støperigata 2, Postboks 1294 Vika, 0250 Oslo, Norway • BNP PARIBAS ASSET MANAGEMENT France, 1 Boulevard Haussmann, F-75009 Paris, France • BNP PARIBAS ASSET MANAGEMENT Asia Ltd., 17/F, Lincoln House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong • BNP PARIBAS ASSET MANAGEMENT Brasil Ltda, Av. Juscelino Kubitchek 510-11 Andar, 04543-00 Sao Paulo - SP, Brazil • BNP PARIBAS ASSET MANAGEMENT UK Ltd., 5 Aldermanbury Square, London EC2V 7BP, United Kingdom • BNP PARIBAS ASSET MANAGEMENT USA, Inc., 200 Park Avenue, 11th floor, New York, NY 10166, United States of America Non-group management entities • Impax Asset Management Limited, 7th Floor, 30 Panton Street, London, SW1Y 4AJ, United Kingdom, Manager for the “Aqua”, “Global Environment” and “Green Tigers” sub-funds The Company may also seek advice from the following investment advisor • FundQuest Advisor, 1 Boulevard Haussmann, F-75009 Paris, France, Advisor for the selection of investment managers from outside the Group Page 3 BNP PARIBAS FUNDS SICAV Organisation NAV Calculation, Registrar and Transfer Agent BNP Paribas Securities Services, Luxembourg Branch, 60 Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg Depositary BNP Paribas Securities Services, Luxembourg Branch, 60 Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg Auditor PricewaterhouseCoopers, Société coopérative, 2 Rue Gerhard Mercator, B.P. 1443, L-1014 Luxembourg, Grand Duchy of Luxembourg Page 4 BNP PARIBAS FUNDS SICAV Information Establishement BNP Paribas Funds (the “Fund”, the “Company”) is an open-ended investment company ( Société d’Investissement à Capital Variable - abbreviated to “SICAV”), incorporated under Luxembourg law on 27 March 1990 for an indefinite period under the name PARVEST. The current name BNP Paribas Funds is effective as from 30 August 2019. The Company is currently governed by the provisions of Part I of the Law of 17 December 2010 governing undertakings for collective investment as well as by Directive 2009/65 amended by Directive 2014/91 and the provisions of Regulation 2017/1131. The Company’s capital is expressed in euros (EUR) and is at all times equal to the total net assets of the various sub-funds. It is represented by fully paid-up shares issued without a designated par value, described below under “The Shares”. The capital varies automatically without the notification and specific recording measures required for increases and decreases in the capital of limited companies. Its minimum capital is defined by the Law. The Company is registered in the Luxembourg Trade and Companies Register under the number B 33 363. Information to the Shareholders Net Asset Values and Dividends Net Assets values are calculated every full bank business day in Luxembourg, excepted for some sub-funds. Additional information can be found in the Prospectus. The Company publishes the legally required information in the Grand Duchy of Luxembourg and in all other countries where the shares are publicly offered. This information is also available on the website: www.bnpparibas-am.com. Financial Year The Company’s financial year starts on 1 January and ends on 31 December. Financial Reports The Company publishes an annual report closed on the last day of the financial year, certified by the auditors, as well as a non-certified, semi-annual interim report closed on the last day of the sixth month of the financial year. The Company is authorised to publish a simplified version of the financial report when required. The financial reports of each sub-fund are published in the accounting currency of the sub-fund, although the combined accounts of the Company are expressed in euro. The annual report is made public within four months of the end of the financial year and the interim report within two months of the end of the half-year. Documents for Consultation The Articles of Association, the Prospectus, the KIIDs, and periodic reports may be consulted at the Company’s registered office and at the establishments responsible for the Company’s financial service. Copies of the Articles of Association and the annual and interim reports are available on request. Except for the newspaper publications required by Law, the official media to obtain any notice to shareholders will be our website www.bnpparibas-am.com. Documents and information are also available on the website: www.bnpparibas-am.com. Page 5 BNP PARIBAS FUNDS SICAV Financial statements at 30/06/2021 Aqua Asia ex-Japan Bond Asia ex-Japan Equity Brazil Equity Expressed in EUR USD USD USD Notes Statement of net assets Assets 3 219 199 623 51 878 191 860 025 122 128 422 600 Securities portfolio at cost price 2 206 542 375 48 219 919 639 740 856 105 711 499 Unrealised gain/(loss) on securities portfolio 887 836 668 918 547 165 641 264 10 056 780 Securities portfolio at market value 2 3 094 379 043 49 138 466 805 382 120 115 768 279 Options at market value 2,13 0 0 0 0 Net Unrealised gain on financial instruments 2,10,11,12 170 890 0 0 0 Cash at banks and time deposits 101 143 786 2 043 721 52 841 997 2 221 447 Other assets 23 505 904 696 004 1 801 005 10 432 874 Liabilities 36 043 060 304 931 3 980 094 9 448 063 Bank overdrafts 0 0 0 0 Net Unrealised loss on financial instruments 2,10,11,12 0 124 577 6 497 0 Other liabilities 36 043 060 180 354 3 973 597 9 448 063 Net asset value 3 183 156 563 51 573 260 856 045 028 118 974 537 Statement of operations and changes in net assets Income on investments and assets, net 22 461 253 1 133 337 5 943 071 1 959 053 Management fees 3 17 611 945 315 283 4 448 783 872 184 Bank interest 217 307 996 477 4 980 Interest on swaps 2 0 0 0 0 Other fees 5 4 241 699 76 491 1 503 501 200 693 Taxes 6 754 843 18 674 268 661 42 160 Transaction fees 19 1 212 648 0 1 402 520 216 536 Distribution fees 4 309 326 643 9 242 6 601 Total expenses 24 347 768 412 087 7 633 184 1 343 154 Net result from investments (1 886 515) 721 250 (1 690 113) 615 899 Net realised result on: Investments securities 2 59 727 682 145 798 111 066 621 4 295 187 Financial instruments 2 1 354 510 (347 593) (278 809) 13 900 Net realised result 59 195 677 519 455 109 097 699 4 924 986 Movement on net unrealised gain/(loss) on: Investments securities 396 790 029 (1 941 321) (82 232 132) 2 097 124 Financial instruments 295 668 (154 769) (33 957) 0 Change in net assets due to operations 456 281 374 (1
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