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Monthly Reports Institutional Investors September 2016 RETURNS a DEDICATED TEAM

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Monthly Reports Institutional Investors September 2016 RETURNS a DEDICATED TEAM Monthly Reports Institutional Investors September 2016 RETURNS A DEDICATED TEAM Ann. Vol. NAV Sept. 2016 3 Years Inception SUSTAINABLE equities Ret. 3 Yr Sycomore Francecap (I) 481.89 € Performance 2.3% 4.8% 43.1% 381.9% 11.1% 14.9% FR0010111724 - Equity Savings Plan (PEA) France - Inception: Oct 01 CAC All-Tradable NR 0.5% -1.1% 18.8% 89.2% 4.4% 19.1% Laurent DELTOUR Sycomore Sélection Responsable (I) 351.02 € Performance 0.0% 3.8% 37.1% 75.5% 10.4% 13.8% Founding Partner FR0010971705 - Equity Savings Plan (PEA) Phone: +33 1 44 40 16 02 European Union - Inception: Jan 11 EUROSTOXX TR -0.1% -3.5% 19.3% 32.4% 5.1% 19.5% [email protected] Sycomore European Growth (I) 362.97 € Performance 1.2% -0.1% 32.1% 142.0% 6.4% 13.4% FR0010117085 - Equity Savings Plan (PEA) European Union - Inception: Jun 02 EUROSTOXX TR -0.1% -3.5% 19.3% 85.7% 4.4% 19.4% Christine KOLB Sycomore European Recovery (I) 315.37 € Performance 0.1% -8.6% 16.5% 57.7% 3.9% 20.2% Founding Partner FR0010148015 - Equity Savings Plan (PEA) European Union - Inception: Dec 04 EUROSTOXX 50 TR -0.6% -5.7% 12.6% 45.5% 3.2% 20.9% Phone: +33 1 44 40 16 06 Sycomore Sélection PME (I) 4 776.77 € Performance 3.9% 15.9% 77.3% 131.6% 8.6% 7.6% [email protected] FR0011707470 - Equity Savings Plan (PEA-PME) European Union - Inception: Jul 06¹ EUROSTOXX TMI Small TR 0.9% -1.8% 32.4% 51.1% 4.1% 16.8% David CZUPRYNA Ann. Vol. THEMATIC equities NAV Sept. 2016 3 Years Inception International Sales Ret. 3 Yr Phone: +33 1 44 40 16 13 Sycomore Happy@Work (I) 108.13 € Performance 1.2% 8.1% - 14.6% - - [email protected] LU1301026206 - Equity Savings Plan (PEA) European Union - Inception: Nov 15² EUROSTOXX TR -0.1% -3.5% - -4.4% - - Sycomore Eco Solutions (I) 105.09 € Performance 1.3% 1.2% - 5.1% - - Maximilian RIESSER LU1183791281 - Equity Savings Plan (PEA) International Sales Europe - Inception: Aug 15 MSCI Europe NR 0.0% -3.3% - -2.6% - - Phone: +33 1 73 54 16 13 Synergy Smaller Cies (A) 600.47 € Performance 0.5% 0.6% 39.1% 200.2% 9.0% 13.5% [email protected] FR0010376343 - Equity Savings Plan (PEA) European Union - Inception: Dec 03 MSCI EMU Small NR 1.2% -0.6% 39.8% 203.5% 9.0% 16.7% Ann. Vol. Jean-Pierre GRIGNON NAV Sept. 2016 3 Years Inception FLEXIBLE strategies Ret. 3 Yr Institutional Sales Sycomore Partners (I) 1 649.12 € Performance 0.5% 3.4% 23.9% 64.9% 6.1% 6.3% Phone: +33 1 44 40 16 09 FR0010601898 - Equity Savings Plan (PEA) [email protected] European Union - Inception: Mar 08 EUROSTOXX TR -0.1% -3.5% 19.3% 20.2% 2.2% 19.4% Sycomore Partners (IB) 1 643.68 € Performance 0.4% 3.2% 23.2% 61.4% 5.8% 6.3% Christophe HOURTOULLE FR0012365013 - Equity Savings Plan (PEA) European Union - Inception: Mar 08 EUROSTOXX TR -0.1% -3.5% 19.3% 20.2% 2.2% 19.4% Institutional Sales Sycomore Allocation Patrimoine (I) 140.36 € Performance 0.1% 2.3% 24.0% 40.3% 5.1% 4.2% Phone: +33 1 44 40 16 07 FR0010474015 - Balanced Fund [email protected] Global Asset Allocation - Dec 09³ Compounded Eonia+2% 0.0% 1.1% 5.8% 15.7% 2.2% - Sycomore L/S Opportunities (I) 356.72 € Performance 0.5% 2.2% 17.6% 78.4% 4.9% 7.0% FR0010473991 - Equity Savings Plan (PEA) Fidy RAMAMONJISOA Europe&US - Long/Short - Inception: Oct 04 Compounded Eonia 0.0% -0.2% -0.2% 16.7% 1.3% - Institutional Sales Sycomore L/S Market Neutral (I) 109.17 € Performance 0.2% 1.8% 4.3% 9.2% 0.8% 2.7% Phone: +33 1 44 40 16 04 FR0010473876 - Equity Savings Plan (PEA) Europe - Long/Short - Inception: Sep 05 Compounded Eonia 0.0% -0.2% -0.2% 14.4% 1.2% - [email protected] Ann. Vol. NAV Sept. 2016 3 Years 12.12⁴ CREDIT crossover Ret. 3 Yr Laszlo BANIER Institutional Sales Sycomore Sélection Crédit (I) 122.55 € Performance -0.4% 4.8% 17.6% 22.6% 5.5% 2.2% FR0011288489 - Corporate Bond Fund Phone: +33 1 44 40 16 37 European Union - Inception: Sep 12⁴ Barclays Eur Corp exFin. 0.0% 7.2% 16.1% 17.9% 4.4% 2.4% [email protected] 1 I share was created on 27/01/14, previous data represents a simulation of performance by the fund’s X share. 2 Data calculated since 6/7/15. The performance shown prior 4/11/2015 is the track record of an identical French-domiciled fund 3 New investment strategy implemented: 29.12.09 4 Data calculated since 05/12/12, investment start date Past performance is not a reliable indicator of future returns. The fund does not guarantee returns or performance and the capital is not guaranteed. Before investing, please consult the Key Investor Information Document (KIID) for each fund which is available on our site www.sycomore-am.com SYCOMORE FRANCECAP I SEPTEMBER 2016 OUR TOP CONVICTIONS ON THE FRENCH MARKET Cyril CHARLOT PERFORMANCE (as of 30.09.2016) Sept.: 2.3% | 2016: 4.8% Founding Partner ESTP, ESSEC, SFAF Sept. 2016 1 yr 3 yrs 5 yrs Incep. Annua. 2015 2014 2013 2012 Fund 2.3% 4.8% 13.4% 43.1% 127.7% 381.9% 11.1% 23.4% 3.3% 31.7% 26.5% Thomas DHAINAUT Senior portfolio manager Bench. 0.5% -1.1% 3.9% 18.8% 76.0% 89.2% 4.4% 11.7% 3.0% 22.5% 19.8% Mastère ESCP, SFAF 490 SYCOMORE FRANCECAP : 381.9% 490 CAC ALL-TRADABLE NR : 89.2% (Bench.) Sycomore Francecap seeks to beat the French equity market by outperforming the 440 440 CAC All-Tradable NR index over the long term. 390 390 The investment universe comprises all listed French stocks with no sector, style or size constraints. 340 340 Depending on the fund manager’s expectations, a large part of the portfolio may be 290 290 invested in mid cap stocks. 240 240 190 190 140 140 90 90 40 40 FUND INFO NAV: 481.89 | Assets: €396 M STATISTICS ENENENENENENENEN ENESGC FOOTPRINT 3 years Inception Inception date PEA Eligibility Cut-Off ENVIRONMENT / SOCIAL / GOVERNANCE 30.10.2001 Yes D-12pm (BPSS) Correlation 0.97 0.88 Beta 0.76 0.66 E 3.2 Benchmark UCITS V Cash settlement ESG Alpha 7.4% 7.6% S 3.4 CAC All Tradable NR Yes T+2 3.3 / 5 Volatility 14.9% 16.8% G 3.4 ISIN Pricing Fixed mgmt fees Vol. bench. 19.1% 22.5% FR0010111724 Daily 1.00% Fund Tracking Error 5.9% 11.2% CARBON IMPACT* (t eq. CO₂/year/€m invested) Bloomberg Quote currency Performance fees Sharpe Ratio 0.85 0.57 SYCMICI FP Equity EUR 20% > Benchmark Info. Ratio 1.14 0.60 220 C AMF classification Investment horizon Turnover fees Max Drawdown -17.2% -56.9% 529 French equities 5 years None Drawdown bench. -23.9% -57.5% Fund Bench. *Weighted average of scope 1, 2 and part of scope 3 greenhouse gas emissions. The figure does not take into account all of the company’s emissions and does not include emissions that were avoided. Past performance is not a reliable indicator of future returns. The fund does not guarantee returns or performance and might entail capital loss. Before investing, please consult the Key Investor Information Document (KIID) for each fund which is available on our site www.sycomore-am.com. *Weighted average of scope 1, 2 and part of scope 3 greenhouse gas emissions. The figure does not take into account all of the company’s emissions and does not include emissions that were avoided. Past performance is not a reliable indicator of future returns. The fund does not guarantee returns or performance and might entail capital loss. Before investing, please consult the Key Investor Information Document (KIID) for each fund which is available on our site www.sycomore-am.com. SYCOMORE FRANCECAP I FUND COMMENTARY PORTFOLIO VALUATION RATIOS The fund performed well, driven in particular by the strong appreciation of digital Net equity exposure 97% PER 2016 16.0x services stocks. Beyond the takeover offer on Octo, a fairly small position in the Overlap with benchmark 23% EPS growth 2016 17.5% fund, we note the solid result publications of Neurones and Groupe Open. Number of holdings 87 P/BV 2016 1.5x Additonally, Chargeurs was the best contributor this month. Operational efficiency Weight of top 20 stocks 46% Return on Equity 2016 9.4% has continued to improve and the results seen since the arrival of Michael Fribourg Median market cap 1.7 bn€ Dividend Yield 2016 2.1% to head the group are promising. Conversely, two companies disappointed in September. Firstly, Korian lost ground following the publication of mixed half-year MARKET CAP STYLE results and an investor day which presented disappointing financial targets. 4% Secondly, Ingenico cut its 2016 targets due to a sudden and temporary fall in the US 14% 10% market and challenges in Latin America. 15% CONTRIBUTIONS Below €150 m 34% Growth/Visibility €150 m - €1 bn Recovery 44% €1-3 bn Positive Wgt avg Contrib. Negative Wgt avg Contrib. Assets €3-20 bn Chargeurs 2.4% 0.57% Ingenico 0.8% -0.19% 31% Dividend yield Above €20 bn Maisons du Mo.
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