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Semi-Annual Report 2009

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Semi-Annual Report 2009 Unaudited Semi-Annual Report 2010 Nordea 1, SICAV Socie´te´ d’Investissement a` Capital Variable a` compartiments multiples Investment Fund under Luxembourg Law 562, rue de Neudorf L-2220 Luxembourg Grand Duchy of Luxembourg R.C.S. number : Luxembourg B-31442 No subscriptions can be received on the basis of these fi nancial reports. 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. Table of Contents Statement of Net Assets as of 30/06/2010 2 Statement of Operations and Changes in Net Assets for the period ended 30/06/2010 8 Statement of Changes for the period ended 30/06/2010 and Statistics 20 Statement of Investments in Securities and Other Net Assets as of 30/06/2010 Nordea 1 - African Equity Fund 51 Nordea 1 - Biotech Fund 53 Nordea 1 - Central & Eastern European Equity Fund 54 Nordea 1 - Climate and Environment Equity Fund 55 Nordea 1 - Danish Bond Fund 57 Nordea 1 - Danish Equity Fund 58 Nordea 1 - Danish Kroner Reserve 59 Nordea 1 - Danish Long Bond Fund 60 Nordea 1 - Danish Mortgage Bond Fund 61 Nordea 1 - Emerging Consumer Fund 62 Nordea 1 - Euro Bond Fund 63 Nordea 1 - Euro Reserve 64 Nordea 1 - European Alpha Fund 65 Nordea 1 - European Corporate Bond Fund (formerly Corporate Bond Fund) 67 Nordea 1 - European Equity Fund 69 Nordea 1 - European High Yield Bond Fund 70 Nordea 1 - European Small & Mid Cap Equity Fund 72 Nordea 1 - European Value Fund 74 Nordea 1 - Far Eastern Equity Fund 75 Nordea 1 - Global Bond Fund 77 Nordea 1 - Global Equity Fund 79 Nordea 1 - Global High Yield Bond Fund 80 Nordea 1 - Global Portfolio Fund 82 Nordea 1 - Global Stable Equity Fund 83 Nordea 1 - Global Stable Equity Fund - Unhedged (formerly Global Core Equity Fund) 85 Nordea 1 - Global Value Fund 87 Nordea 1 - Heracles Long/Short MI Fund 88 Nordea 1 - Japanese Value Fund 89 Nordea 1 - Latin American Equity Fund 90 Nordea 1 - Multi Asset Fund 91 Nordea 1 - Nordic Equity Fund 92 Nordea 1 - Nordic Equity Small Cap Fund 94 Nordea 1 - North American Growth Fund 96 Nordea 1 - North American Relative Value Fund 97 Nordea 1 - North American Value Fund 99 Nordea 1 - Norwegian Bond Fund 100 Nordea 1 - Norwegian Equity Fund 101 Nordea 1 - Norwegian Kroner Reserve 103 Nordea 1 - Stable Return Fund 104 Nordea 1 - Swedish Bond Fund 108 Nordea 1 - Swedish Equity Fund 109 Nordea 1 - Swedish Kroner Reserve 110 Nordea 1 - US Corporate Bond Fund 111 Nordea 1 - US High Yield Bond Fund 113 Nordea 1 - US-Dollar Reserve 116 Notes to the Financial Statements as of 30/06/2010 117 Shareholder’s Information 174 Nordea 1, SICAV - Unaudited Semi-Annual Report 2010 1 Statement of Net Assets as of 30/06/2010 Combined Statement Nordea 1 - African Nordea 1 - Biotech Fund Equity Fund (in EUR) (in EUR) (in USD) Assets Shares portfolio at market value (Note 2) 3,038,631,792.82 22,797,195.49 35,671,454.63 Funds portfolio at market value (Note 2) 5,648,963.01 Bonds portfolio at market value (Note 2) 3,400,337,781.32 Cash at banks 582,092,716.16 4,040,842.98 1,516,227.92 Dividends and interest receivable 56,635,564.54 19,968.43 92.07 Receivable for investments sold 15,781,644.95 633.46 Receivable for purchased shares under settlement 75,521,312.53 265,819.53 200.65 Receivable other 2,172,823.43 Receivable on swing factor (Note 15) 7,998,953.41 Unrealised gain on derivatives (Note 6) 408,753.02 Unrealised gain on forward exchange contracts (Note 6) 13,426,442.81 Unrealised gain on foreign currencies receivables and payables 215,352.26 70.35 7,198,872,100.25 27,124,530.24 37,187,975.27 Liabilities Premium paid on credit default swaps contracts (Note 6 b) 1,551,158.80 Overdraft at banks 965.48 Payable other 18,431.02 980.34 Unrealised loss on derivatives (Note 6) 4,626,224.30 Unrealised loss on forward exchange contracts (Note 6) 62,047,579.01 20,042.29 Unrealised loss on foreign currencies receivables and payables 111,265.89 2.37 Payable for investments purchased 71,864,369.28 20,620.94 1,317,369.14 Accrued fees 23,494,549.45 135,523.32 186,598.31 Payable for redeemed shares under settlement 32,236,785.24 53,242.02 1,466.84 195,951,328.48 209,386.28 1,526,459.29 Net Assets 7,002,920,771.78 26,915,143.96 35,661,515.98 Portfolio at acquisition cost 6,297,888,796.45 21,720,592.79 41,245,095.86 Nordea 1 - Danish Long Nordea 1 - Danish Nordea 1 - Emerging Bond Fund Mortgage Consumer Fund Bond Fund (in DKK) (in DKK) (in EUR) Assets Shares portfolio at market value (Note 2) 180,664,257.69 Funds portfolio at market value (Note 2) Bonds portfolio at market value (Note 2) 100,328,533.87 1,654,373,639.94 Cash at banks 2,103,675.34 85,023,446.03 1,888,415.95 Dividends and interest receivable 1,268,222.57 19,928,835.79 227,922.70 Receivable for investments sold Receivable for purchased shares under settlement 4,606,814.35 5,284,303.32 Receivable other Receivable on swing factor (Note 15) Unrealised gain on derivatives (Note 6) Unrealised gain on forward exchange contracts (Note 6) Unrealised gain on foreign currencies receivables and payables 6.16 103,700,431.78 1,763,932,742.27 188,064,899.66 Liabilities Premium paid on credit default swaps contracts (Note 6 b) Overdraft at banks Payable other Unrealised loss on derivatives (Note 6) Unrealised loss on forward exchange contracts (Note 6) 15,364.77 Unrealised loss on foreign currencies receivables and payables 28,191.41 Payable for investments purchased 48,705,434.78 3,274,641.70 Accrued fees 162,216.48 2,829,691.48 554,058.98 Payable for redeemed shares under settlement 230,732.46 797,701.68 791,174.30 392,948.94 52,348,192.71 4,648,066.39 Net Assets 103,307,482.84 1,711,584,549.56 183,416,833.27 Portfolio at acquisition cost 94,760,142.56 1,606,476,599.74 173,224,853.09 The accompanying notes form an integral part of these fi nancial statements. 2 Nordea 1, SICAV - Unaudited Semi-Annual Report 2010 Nordea 1 - Central & Eastern Nordea 1 - Climate and Nordea 1 - Danish Nordea 1 - Danish Nordea 1 - Danish European Equity Fund Environment Bond Fund Equity Fund Kroner Reserve Equity Fund (in EUR) (in EUR) (in DKK) (in DKK) (in DKK) 13,624,656.49 31,547,810.38 89,304,033.42 147,730,151.31 239,395,115.95 219,370.93 409,960.86 1,882,543.27 3,149,509.43 3,200,908.80 167,955.85 82,450.68 2,742,481.26 30,921.77 2,856,974.74 756,902.18 36,743.81 625,365.49 111,006.13 336,898.49 102,832.20 3,530.95 9,605.21 14,052,258.03 33,432,094.80 152,466,181.97 92,821,363.11 245,555,831.69 65.36 60.39 121.55 579,129.21 70,575.84 164,481.66 379,380.51 477,775.62 263,837.02 21,966.07 776,913.51 510,495.84 17,110.00 222,611.94 92,541.91 1,520,524.38 889,941.71 494,946.01 486,570.51 13,959,716.12 31,911,570.42 151,576,240.26 92,326,417.10 245,069,261.18 14,476,595.12 31,224,230.44 142,280,146.82 85,395,721.56 240,443,827.05 Nordea 1 - Euro Nordea 1 - Euro Reserve Nordea 1 - European Nordea 1 - European Nordea 1 - European Bond Fund Alpha Fund Corporate Bond Equity Fund Fund (in EUR) (in EUR) (in EUR) (in EUR) (in EUR) 89,584,071.09 18,463,873.18 11,419,200.58 12,352,067.00 726,559,797.53 354,576.59 299,426.61 1,272,431.01 12,911,506.26 168,991.23 252,171.33 7,053.84 105,699.62 14,873,646.70 49,213.83 999,288.84 4,161,097.73 326,580.15 368,000.00 4,948.62 64,158.94 982,174.05 149.99 3,796,629.78 11,350,183.25 12,393,948.50 13,662,784.91 95,187,458.39 770,473,937.57 19,008,808.38 1,260,488.69 200.00 321,203.80 11,956.27 4,652.39 589.90 1,128,630.82 37,294.79 18,189.74 365,624.38 1,303,862.32 97,171.24 2,052.25 521,186.97 223,523.97 3,332,928.70 219,514.36 39,347.04 539,576.71 601,104.62 7,351,766.72 317,275.50 12,354,601.46 13,123,208.20 94,586,353.77 763,122,170.85 18,691,532.88 11,183,481.80 12,899,892.68 88,943,965.65 704,722,938.04 16,424,309.94 The accompanying notes form an integral part of these fi nancial statements. Nordea 1, SICAV - Unaudited Semi-Annual Report 2010 3 Statement of Net Assets as of 30/06/2010 Nordea 1 - European High Nordea 1 - European Small Nordea 1 - European Yield Bond Fund and Mid Cap Equity Fund Value Fund (in EUR) (in EUR) (in EUR) Assets Shares portfolio at market value (Note 2) 143,263,649.68 730,856,951.73 Funds portfolio at market value (Note 2) 2,325,000.00 Bonds portfolio at market value (Note 2) 951,920,115.26 Cash at banks 75,614,129.98 1,923,836.50 222,025,090.65 Dividends and interest receivable 17,621,796.65 369,564.05 545,719.33 Receivable for investments sold 373,288.77 Receivable for purchased shares under settlement 6,998,895.53 315,253.59 892,721.76 Receivable other 1,367,488.64 654,325.75 Receivable on swing factor (Note 15) Unrealised gain on derivatives (Note 6) 12,203.57 Unrealised gain on forward exchange contracts (Note 6) Unrealised gain on foreign currencies receivables and payables 12,227.59 1,053,522,426.06 148,582,796.16 954,987,036.81 Liabilities Premium paid on credit default swaps contracts (Note 6 b) Overdraft at banks Payable other Unrealised loss on derivatives (Note 6) Unrealised loss on forward exchange contracts (Note 6) 3,542,665.59 Unrealised loss on foreign currencies receivables and payables 12,835.01 848.60 Payable for investments purchased 23,094,980.00 274.00 Accrued fees 2,408,965.73 664,115.22 4,395,873.76 Payable for redeemed shares under settlement 6,972,155.74 424,203.74 1,481,696.04 36,031,602.07 1,089,441.56 5,877,569.80 Net Assets 1,017,490,823.99 147,493,354.60 949,109,467.01 Portfolio at acquisition cost 932,042,302.47 134,581,348.86 584,340,582.12 Nordea 1 - Global Stable Nordea 1 - Global Stable Nordea 1 - Global Value Equity Fund Equity Fund - Unhedged
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