Amundi Interinvest

Home , Ipsen

SEMI-ANNUAL REPORT SEPTEMBER 2019

AMUNDI INTERINVEST

SICAV with sub-funds under Luxembourg law

Alternative Investment Funds Manager AIFM Amundi Luxembourg S.A.

Depositary Bank CACEIS Bank, Luxembourg Branch

Réviseur d'Entreprises Agréé PricewaterhouseCoopers, Société coopérative

AMUNDI INTERINVEST

Unaudited semi-annual report

R.C.S. Luxembourg B26004

For the period from 01/04/19 to 30/09/19

No subscription may be accepted on the basis of the financial reports. Subscriptions are accepted only if they have been made on the basis of the current prospectus dated May 2018, which will be accompanied by the latest annual report, including audited financial statements and the latest semi-annual report if this is more recent than the annual report.

Table of Contents

Page

Organisation 4

Securities Portfolio as at 30/09/19

AMUNDI INTERINVEST - CHINA A SHARES 5 AMUNDI INTERINVEST - DIVERSIFIE 6 AMUNDI INTERINVEST - CAPITAL BALANCED 8 AMUNDI INTERINVEST - BOND GLOBAL INFLATION 9

Statement of Net Assets as at 30/09/19 10

Financial Details Relating to the Last 3 Years 11

Statement of Operations and Changes in Net Assets from 01/04/19 to 30/09/19 12

Notes to the Financial Statements as at 30/09/19 14

Supplementary Information 19

Organisation

NAME AND REGISTERED OFFICE AMUNDI INTERINVEST 5, Allée Scheffer L-2520 Luxembourg

BOARD OF DIRECTORS OF THE SICAV

Managing Directors Monsieur Julien FAUCHER Administrateur délégué Amundi Luxembourg S.A., Luxembourg

Directors Monsieur Christophe LEMARIE Directeur adjoint du marketing de détail Amundi Irland Limited, 1, George’s Quay Plaza, Dublin 2 Ireland

Monsieur Didier CLERMONT Directeur adjoint de l’audit interne du groupe Amundi Asset Management, S.A.S., Paris

General Manager Monsieur Olivier GUILBAULT PCO Director Amundi Luxembourg S.A., Luxembourg

MANAGER ALTERNATIVE INVESTMENT FUNDS AMUNDI LUXEMBOURG S.A. (« AIFM ») 5, Allée Scheffer L-2520 Luxembourg

INVESTMENT MANAGERS AMUNDI ASSET MANAGEMENT S.A.S., succursale de Londres (until 1 October 2019): Head office : 90, Boulevard Pasteur 75015 Paris - France

London branch : 41 Lothbury London EC2R 7HF - United Kingdom

Amundi (UK) Limited (since 01 October 2019) 41 Lothbury London EC2R 7HF - United Kingdom

SUB-INVESTMENT MANAGERS Amundi Japan Limited 1-2-2 Uchisaiwaicho chyioda-ku Tokyo 100-0011 Japon

REVISEUR D’ENTREPRISES AGREE PricewaterhouseCoopers, Société coopérative 2, rue Gerhard Mercator, B.P. 1443 L-1014 Luxembourg

CUSTODIAN BANK AND CACEIS Bank, Luxembourg Branch CENTRAL ADMINISTRATION 5, Allée Scheffer L-2520 Luxembourg

TRANSFERT AGENT, REGISTRAR, DOMICILIARY CACEIS Bank, Luxembourg Branch AND PAYING AGENT 5, Allée Scheffer L-2520 Luxembourg

4 AMUNDI INTERINVEST - CHINA A SHARES

Securities Portfolio as at 30/09/19 Quantity Market Value % of NAV Quantity Market Value % of NAV

USD USD 11.204 WULIANGYE YIBIN CO LTD -A- 210.538 3,54 Transferable securities admitted to an official stock 5.857.297 98,57 25.811 XI AN LONGI SILICON MATERIALS CORP 95.953 1,61 exchange listing and/or dealt in another regulated market Shares 5.857.297 98,57 6.976 YAXIA AUTO CORP-A 16.244 0,27 10.100 YUNNAN BAIYAO GROUP -A- 108.457 1,83 China 5.857.297 98,57 1.300 ZHEJIANG HANGMIN COSHS -A- 1.117 0,02 252.037 BANK OF CHNA LTD -A- 127.429 2,14 4.945 ZHUHAI GREE ELECTRICAL APPLIANCES INC-A- 39.517 0,67 211.272 BANK OF COMMUNICATIONS-A- 162.898 2,74 86.800 ZIJIN MINING GROUP CO LTD 40.107 0,67 119.000 BANK OF JIANGSU CO LTD 113.480 1,91 27.700 ZTE CORPORATION -A- 129.157 2,17 39.000 BAOSHAN IRON AND STEEL -A- 32.426 0,55 Total securities portfolio 5.857.297 98,57 26.500 BEIJING ORIENTAL YUHONG WATERPROOF -A- 77.636 1,31 115.906 CHINA CONSTRUCTION BANK CORPORATION -A- 115.087 1,94 223.100 CHINA EVERBRIGHT BANK CO LTD -A- 125.958 2,12 16.865 CHINA MERCHANTS BANK CO LTD -A- 83.374 1,40 21.100 CHINA MERCHANTS SECURITIES -A- 50.199 0,84 27.500 CHINA PACIFIC INSURANCE -A- 137.494 2,31 23.900 CN SOUTH PUBLIS -A- 41.555 0,70 185.000 CN STATE CEC -A- 142.122 2,39 50.200 CNPC CAPITALREGISTERED SHS -A- 86.789 1,46 8.700 CONTEMPORARY AMPEREX TECHNO. CO LTD A 87.314 1,47 116.000 CRRC CORP -A- 119.905 2,02 600 C&S PAPER CO LTD 1.044 0,02 25.100 GD WEN S FOOD -A- 129.372 2,18 63.900 GEMDALE CORP -A- 103.923 1,75 18.200 GOERTEK INC. -A- 46.444 0,78 22.667 GREENLAND HLDGS -A- 22.475 0,38 13.700 HAFEI AVIATION -A- 86.699 1,46 3.200 HAITIAN FLAVOUR -A- 49.122 0,83 48.600 HENGLI PETROCHEMICAL CO LTD 103.953 1,75 3.700 HITHINK ROYALFLUSH INFORMATION NETWORK C 53.009 0,89 145.000 HUANENG LANCANG RIVER HYDROPOWER INC 86.548 1,46 37.800 HUANGSHAN TOURISM DEVELOPMENT CO LTD -A- 48.788 0,82 192.695 INDUSTRIAL AND COMMERCIAL BANK CHINA -A- 149.928 2,52 41.183 INDUSTRIAL BANK-A- 102.317 1,72 43.410 INNER MONGOLIA YI LI INDUSTRY CO LTD -A- 172.474 2,90 55.900 JIANGSU GUOTAI INTERNATIONAL GROUP-A- 42.237 0,71 11.000 JIANGSU HENGRUI MEDICINE CO LTD -A- 125.212 2,11 47.400 JIANGXI COPPER CO LTD -A- 95.861 1,61 12.300 JOYOUNG CO LTD 37.814 0,64 1.182 KWEICHOW MOUTAI CO LTD 195.013 3,28 21.300 LIUZHOU IRON & STEEL CO LTD 15.376 0,26 27.768 MIDEA GROUP CO -A- 200.140 3,37 15.800 NEW CHINA LIFE INSURANCE CO LTD -A- 109.619 1,84 2.700 PETROCHINA CO LTD SHS.A 2.317 0,04 77.600 PICC HOLDING CO-A 94.707 1,59 44.022 PING AN INSURANCE GROUP CO.SHS.A 545.924 9,19 72.069 POLY DEVELOP AND HOLDINGS GRP CO-SHS- A 144.132 2,43 28.300 SHANDONG SHANDA WIT SCIANCE AND TECH A 84.419 1,42 6.600 SHANGHAI INTL AIRPORT 74.089 1,25 120.000 SHANGHAI INTL PORT -A- 97.075 1,63 34.000 SHANGHAI TUNNEL ENGINEERING -A- 28.316 0,48 3.400 SHENZHEN GOODIX A 107.296 1,81 36.600 SHENZHEN LUXSHARE PRECISION INDUSTRY -A- 143.412 2,41 50.560 SICHUAN GUOGUOANG AGROCHEMICALS-A 83.506 1,41 66.000 SUZHOU CHUNQIU-REGISTERED SHS A 91.766 1,54 3.380 SZ MINDRAY BIO --- REGISTERED SHS -A- 90.117 1,52 64.400 WASU MEDIA HLDGSHS -A- 85.562 1,44 39.300 WEICHAI POWER CO LTD-A- 62.535 1,05

The accompanying notes form an integral part of these financial statements

5 AMUNDI INTERINVEST - DIVERSIFIE

Securities Portfolio as at 30/09/19 Quantity Market Value % of NAV Quantity Market Value % of NAV

EUR EUR 200.000 NOMURA EUROPE FINANC 1.125 15-20 03/06A 201.843 0,40 Transferable securities admitted to an official stock 24.035.539 47,57 300.000 WINTERSHALL DEA 1.8230 19-31 25/09A 306.342 0,61 exchange listing and/or dealt in another regulated market Bonds 18.707.067 37,02 Portugal 107.107 0,21

Denmark 424.532 0,84 100.000 BRISA CONCESSAO ROD 2.00 16-23 22/03A 107.107 0,21 160.000 DANSKE 1.625 19-24 15/03A 167.981 0,33 Spain 2.193.435 4,34 250.000 SYDBANK A/S 1.25 19-22 04/02A 256.551 0,51 400.000 ABERTIS INFRAESTRUCT 1.875 19-32 26/03A 398.188 0,79 France 9.215.437 18,24 200.000 ABERTIS INFRAESTRUCT 2.375 19-27 27/09A 218.506 0,43 100.000 AMADEUS IT GROUP 0.875 18-23 18/09A 103.276 0,20 200.000 ACCOR 1.75 19-26 04/02A 211.454 0,42 200.000 BANCO DE SABADELL SA 0.875 17-23 05/03A 203.573 0,40 300.000 AIR FRANCE KLM 3.875 14-21 18/06A 317.308 0,63 700.000 BANCO SANTANDER SA 2.125 18-28 08/02A 750.604 1,50 200.000 AUCHAN SA EMTN 2.375 12-22 12/12A 210.682 0,42 100.000 BANKIA SA 0.8750 19-24 25/03A 102.842 0,20 500.000 BNP PAR 2.375 15-25 17/02A 545.523 1,08 200.000 ENAGAS FIN REGS 1.25 15-25 06/02A 212.234 0,42 400.000 BNP PARIBAS 1.25 18-25 19/03A 420.973 0,83 200.000 IBERDROLA FINANZAS 4.125 10-20 23/03A 204.212 0,40 400.000 BNP PARIBAS 1.125 17-23 10/10A 415.603 0,82 200.000 BPCE SA 1.375 18-26 23/03A 213.195 0,42 United Kingdom 1.615.325 3,20 200.000 CAIXABANK SA 2.3750 19-24 01/02A 215.322 0,43 100.000 AVIVA PLC SUB 6.125 13-43 05/07A 117.264 0,23 1.100.000 EDF 3.875 12-22 18/01A 1.201.400 2,37 300.000 BARCLAYS BANK 1.50 14-22 01/04A 309.865 0,61 100.000 EUTELSAT S.A. 2.625 13-20 13/01A 100.091 0,20 200.000 CREDIT AGRICOLE LDN 1.875 16-26 20/12A 221.041 0,44 290.000 FAURECIA 2.625 18-25 15/06S 302.828 0,60 300.000 CREDIT AGRICOLE LDN 2.375 13-20 27/11A 309.348 0,61 120.000 FAURECIA 3.1250 19-26 15/06S 127.664 0,25 300.000 CREDIT AGRICOLE LDN 2.375 14-24 20/05A 333.071 0,67 500.000 FAURECIA 3.625 16-23 15/06S 510.007 1,01 300.000 INTERCONTINENTAL 2.125 18-27 15/11A 324.736 0,64 400.000 IMERYS SA 1.50 17-27 15/01A 426.119 0,84 Floating rate bonds 5.328.472 10,55 200.000 IPSEN 1.875 16-23 16/06A 207.982 0,41 200.000 LA BANQUE POSTALE 1.00 17-24 16/10A 207.786 0,41 Denmark 136.994 0,27 200.000 ORANGE SA 1.1250 19-24 15/07A 209.838 0,42 130.000 DANSKE BANK A/S FL.R 19-29 21/06A 136.994 0,27 400.000 PERNOD RICARD 1.50 16-26 18/05A 432.408 0,86 France 3.664.240 7,25 150.000 PSA BANQUE FRAN 0.7500 18-23 19/04A 152.971 0,30 100.000 PSA BANQUE FRANCE 0.50 17-20 17/01A 100.192 0,20 600.000 AXA FL.R 10-40 16/04A 616.816 1,22 130.000 PSA BANQUE FRANCE 0.625 17-22 10/10A 132.261 0,26 500.000 BNP PARIBAS FL.R 14-26 20/03A 519.863 1,03 240.000 RENAULT SA 1.00 17-23 08/03A 246.426 0,49 400.000 BNP PARIBAS FL.R 18-23 19/01Q 400.080 0,79 200.000 SOCIETE GENERALE 1.00 16-22 01/04A 204.896 0,41 200.000 CARREFOUR BQUE FL.R 18-22 15/06Q 200.652 0,40 600.000 SOCIETE GENERALE 4.00 13-23 07/06A 679.456 1,34 100.000 CREDIT AGRICOLE ASSUR FL.R 18-48 29/01U 101.622 0,20 200.000 SOCIETE GENERALE EMTN 4.75 11-21 02/03A 214.253 0,42 100.000 DANONE SA EMTN FL.R 17-XX 23/06A 102.384 0,20 100.000 VALEO EMTN 3.25 14-24 22/01A 112.889 0,22 200.000 EDF SA FL.R 14-XX 22/01A 213.744 0,42 300.000 VEOLIA ENVIRONNEMENT 0.892 19-24 14/01A 310.986 0,62 450.000 ORANGE EMTN SUB REGS FL.R 14-XX 01/10A 549.153 1,09 200.000 VEOLIA ENVIRONNEMENT 1.59 15-28 10/01A 222.012 0,44 100.000 ORANGE SA FL.R 19-XX XX/XXA 105.001 0,21 200.000 VINCI SA 1.625 19-29 18/01A 224.847 0,45 200.000 SCOR SUB FL.R 14-XX 01/10A 228.666 0,45 300.000 WENDEL 2.50 15-27 09/02A 338.065 0,67 400.000 TOTAL SA FL.R 15-XX 26/02A 411.006 0,81 Germany 219.087 0,43 200.000 TOTAL S.A. FL.R 16-XX 05/05A 215.253 0,43 Germany 857.149 1,70 70.000 FRESENIUS SE 1.8750 19-25 15/02A 75.788 0,15 140.000 SCHAEFFLER AG 1.1250 19-22 26/03A 143.299 0,28 400.000 ALLIANZ FL.R 14-24 19/08A 443.049 0,88 Italy 3.763.107 7,45 300.000 ENBW ENERGIE FL.R 14-76 02/04A 314.929 0,62 100.000 ENBW ENERGIE BADEN FL.R 19-79 05/08A 99.171 0,20 200.000 ASSICURAZ GEN SUB 4.125 14-26 04/05A 234.639 0,46 Italy 257.762 0,51 150.000 ASSICURAZIONI GENER 3.875 19-29 29/01A 174.089 0,34 200.000 ENI 1.50 15-26 02/02A 216.494 0,43 250.000 UNICREDIT SPA FL.R 19-25 03/07A 257.762 0,51 500.000 INTESA SANPAOLO SPA 1.75 18-28 20/03A 533.951 1,06 Netherlands 412.327 0,82 500.000 ITALY 0.35 16-21 01/11S 505.838 1,00 300.000 IBERDROLA INTL FL.R 17-XX 22/02A 308.413 0,61 1.200.000 ITALY 4.50 13-23 01/05S 1.391.849 2,76 100.000 ING GROEP FL.R 17-29 26/09A 103.914 0,21 300.000 TELECOM ITALIA REGS 4.00 12-20 21/01A 303.755 0,60 400.000 UNIONE DI BANCHE ITA 0.750 17-22 17/10A 402.492 0,80 Other transferable securities 400.658 0,79 Netherlands 1.169.037 2,31 Floating rate bonds 400.658 0,79 278.000 ENEL FINANCE INTL 1.966 15-25 27/01A 303.994 0,60 150.000 HEINEKEN NV 1.25 15-21 10/09A 153.529 0,30 Germany 400.658 0,79 200.000 KPN 0625 16-25 09/04A 203.329 0,40 400.000 ALLIANZ SE FL.R 19-49 25/09A 400.658 0,79

The accompanying notes form an integral part of these financial statements

6 AMUNDI INTERINVEST - DIVERSIFIE

Securities Portfolio as at 30/09/19 Quantity Market Value % of NAV

EUR

Shares/Units of UCITS/UCIS 25.156.548 49,79

France 18.631.478 36,88

France 18.631.478 36,88 12 AMUNDI CASH INSTITUTIONS SRI - I (C) 2.696.132 5,34 220 AMUNDI RENDEMENT PLUS FCP 3 DEC CAP 3.602.779 7,13 20 AMUNDI STAR 2 - I 2.508.330 4,96 50 AMUNDI 12 M - I (C) 5.349.255 10,59 110 AMUNDI 6 M I 2.474.390 4,90 1.800 BFT S HT RDM 21 -IC- 3 DEC 2.000.592 3,96 Luxembourg 6.525.070 12,91

Luxembourg 6.525.070 12,91 23 AF BD GLB EM HARD CUR IE CAP 1.037.332 2,05 350 AMUNDI -EQ.EMERG.WORLD IE CAP 469.994 0,93 1.090 AMUNDI FUNDS BFT OPTIMAL INCOME - IE-C 1.122.929 2,22 400 AMUNDI FUNDS BOND EURO HIGH YIELD -I- CAP 1.097.868 2,17 900 AMUNDI FUNDS EQUITY EUROLAND SMALL CAP - 1.908.792 3,78 IE- CAP 500 AMUNDI INDEX MSCI EMU - IE CAP 888.155 1,76 Total securities portfolio 49.592.745 98,15

The accompanying notes form an integral part of these financial statements

7 AMUNDI INTERINVEST - CAPITAL BALANCED

Securities Portfolio as at 30/09/19 Quantity Market Value % of NAV

EUR

Transferable securities admitted to an official stock 416.369 77,34 exchange listing and/or dealt in another regulated market Bonds 416.369 77,34

Belgium 69.010 12,82 60.000 BELGIUM 4.25 12-22 28/09A 69.010 12,82 France 62.024 11,52 60.000 FRANCE OAT 2.50 09-20 25/10A 62.024 11,52 Italy 101.275 18,81 30.000 ITALY 5.25 98-29 01/11S 42.734 7,94 50.000 ITALY BTP 5.50 12-22 01/11S 58.541 10,87 Spain 71.715 13,32 60.000 SPAIN 4.40 13-23 31/10A 71.715 13,32 United States of America 112.345 20,87 80.000 UNITED STATES 4.375 08-38 15/02S 101.937 18,94 10.000 US TREASURY NOTES 2.750 17-47 15/11S 10.408 1,93

Shares/Units of UCITS/UCIS 75.235 13,97

Luxembourg 75.235 13,97

Luxembourg 75.235 13,97 89 AM IS EHYLBI UEC 20.651 3,84 5.757 AM IS M EM M UEC 23.669 4,40 147 AM IS MSCI EMU UCITS ETF DR CAP 30.915 5,73 Total securities portfolio 491.604 91,31

The accompanying notes form an integral part of these financial statements

8 AMUNDI INTERINVEST - BOND GLOBAL INFLATION

Securities Portfolio as at 30/09/19 Quantity Market Value % of NAV

EUR

Shares/Units of UCITS/UCIS 630.784 83,07

Luxembourg 630.784 83,07

Luxembourg 630.784 83,07 723 AMUNDI FUNDS BOND GLOBAL INFLATION-OE DH 630.784 83,07 Total securities portfolio 630.784 83,07

The accompanying notes form an integral part of these financial statements

9 Statement of Net Assets as at 30/09/19

Note AMUNDI AMUNDI AMUNDI AMUNDI Combined INTERINVEST - INTERINVEST - INTERINVEST - INTERINVEST - CHINA A SHARES DIVERSIFIE CAPITAL BOND GLOBAL BALANCED INFLATION

30/09/19 30/09/19 30/09/19 30/09/19 30/09/19 USD EUR EUR EUR EUR Assets 5.976.756 50.560.502 574.645 759.636 57.377.040 Securities portfolio at market value 2 5.857.297 49.592.745 491.604 630.784 56.087.814 Acquisition cost 5.572.378 46.010.596 425.375 701.315 52.248.621 Unrealised gain/(loss) on the securities 284.919 3.582.150 66.230 -70.532 3.839.193 portfolio Cash at banks and liquidities 119.452 634.066 76.931 127.911 948.477 Interest receivable 7 281.155 6.110 - 287.272 Unrealised net appreciation on forward 2,8 - - - 941 941 foreign exchange contracts Unrealised net appreciation on 2,7 - 52.536 - - 52.536 financial futures Liabilities 34.678 34.416 36.278 259 102.762 Bank overdrafts - - 30.956 32 30.988 Interest payable - 153 - - 153 Unrealised net depreciation on 2,7 - - 2.724 - 2.724 financial futures Management fees payable 3 17.859 24.395 2.359 204 43.340 Performance fees payable 6 14.660 - - - 13.447 Administration fees payable 5 2.012 4.551 180 19 6.595 Taxe d'abonnement payable 4 149 5.317 58 3 5.515 Net asset value 5.942.078 50.526.086 538.368 759.377 57.274.278

The accompanying notes form an integral part of these financial statements

10 Financial Details Relating to the Last 3 Years

AMUNDI INTERINVEST - CHINA A SHARES Period/Year ending as at: 30/09/19 31/03/19 31/03/18

Total Net Assets USD 5.942.078 6.080.744 7.783.917

CHINA A SHARES-Institutionel « Classe I » Number of shares 3.277,942 3.277,942 3.847,630 Net asset value per share USD 1.812,75 1.855,05 2.023,04

AMUNDI INTERINVEST - DIVERSIFIE Period/Year ending as at: 30/09/19 31/03/19 31/03/18

Total Net Assets EUR 50.526.086 49.529.268 50.117.470

DIVERSIFIE-Classic « Classe C » Number of shares 10.040,000 10.093,000 10.209,000 Net asset value per share EUR 5.032,48 4.907,29 4.909,15

AMUNDI INTERINVEST - CAPITAL BALANCED Period/Year ending as at: 30/09/19 31/03/19 31/03/18

Total Net Assets EUR 538.368 574.318 1.193.494

CAPITAL BALANCED-Classic I « Classe C » Number of shares 229,167 264,167 610,167 Net asset value per share EUR 1.881,54 1.788,42 1.788,98

CAPITAL BALANCED-Classic II « Classe C(2) » Number of shares 75,000 75,000 75,000 Net asset value per share USD 1.558,00 1.525,25 1.671,24

AMUNDI INTERINVEST - BOND GLOBAL INFLATION Period/Year ending as at: 30/09/19 31/03/19 31/03/18

Total Net Assets EUR 759.377 652.946 689.184

BOND GLOBAL INFLATION-Institutionel XVI « Classe I(16)E » Number of shares 583,553 481,715 373,367 Net asset value per share EUR 875,95 902,19 979,02

BOND GLOBAL INFLATION-Institutionel XVI « Classe I(16) HU » Number of shares 284,213 253,649 390,193 Net asset value per share USD 952,12 966,59 1.020,11

11 Statement of Operations and Changes in Net Assets from 01/04/19 to 31/03/19

Note AMUNDI AMUNDI AMUNDI AMUNDI INTERINVEST - INTERINVEST - INTERINVEST - INTERINVEST - CHINA A SHARES DIVERSIFIE CAPITAL BALANCED BOND GLOBAL INFLATION

30/09/19 30/09/19 30/09/19 30/09/19 USD EUR EUR EUR Income 117.708 269.101 8.100 - Net dividends 2 117.391 - - - Bond interest 2 - 266.460 7.755 - Bank interest 317 2.641 345 - Expenses 129.031 93.888 6.404 684 Management fees 3 35.647 49.339 4.885 398 Performance fees 6 14.611 - - - Administration fees 5 11.882 29.603 1.117 108 Taxe d'abonnement 4 293 10.915 122 8 Broker and transactions fees 2 65.972 2.605 152 - Bank interest & similar charges - 1.425 128 171 Other expenses 626 - - - Net realised profit/(loss) from investments -11.323 175.214 1.695 -684 Realised profit on sales of investment securities 2 954.448 55.984 9.173 - Realised loss on sales of investment securities 2 -472.391 -29.544 - -32 Realised loss on options - -35.500 - - Realised profit on options - 19.752 - - Realised profit on forward foreign exchnage contracts 2 - - - 17.090 Realised loss on forward foreign exchnage contracts 2 - - - -5.347 Realised profit on financial futures 2 - 355.235 10.348 - Realised loss on financial futures 2 - -177.102 -5.534 - Realised profit on foreign exchange 2 51.714 12.480 7.690 20.706 Realised loss on foreign exchange 2 -273.681 -1.405 -326 -21.710 Net realised profit/(loss) 248.767 375.115 23.048 10.024 Movement in unrealised appreciation on investments 2 -284.883 776.236 11.027 - Movement in unrealised depreciation on investments 2 -102.550 74.527 -1.358 -21.117 Movement in unrealised apprection on options 2 - -8.042 - - Movement in unrealised depreciation on options 2 - 15.900 - - Movement in unrealised appreciation on forex 2 - - - 92 Movement in unrealised depreciation on forex 2 - - - 7 Movement in unrealised apppreciation on futures 2 - -21.421 -2.723 - Movement in unrealised depreciation on futures 2 - 49.407 -1.567 - Result of operations -138.666 1.261.722 28.428 -10.995 Subscriptions - - - 124.535 Redemptions - -264.905 -64.378 -7.110 Increase/(decrease) in net assets -138.666 996.817 -35.951 106.431

Reevaluation of consolidated Net Assets 1 - - - - Net assets at the beginning of the period 6.080.744 49.529.268 574.318 652.946 Net assets at the end of the period 5.942.078 50.526.086 538.368 759.377

The accompanying notes form an integral part of these financial statements

12 Combined

30/09/19 EUR 385.170 107.678 274.215 3.277 219.332 87.319 13.402 41.727 11.313 63.271 1.724 574 165.838 940.637 -462.883 -35.500 19.752 17.090 -5.347 365.584 -182.636 88.312 -274.478 636.370 525.951 -42.013 -8.042 15.900 92 7 -24.144 47.841 1.151.961 124.535 -336.393 940.104 162.186 56.171.988 57.274.278

The accompanying notes form an integral part of these financial statements

Notes to the Financial Statements as at 30/09/19

1 GENERALITIES

AMUNDI INTERINVEST (hereinafter referred to as "the SICAV" or "the Company") is an Luxembourg law Investment Company with Variable Capital with multiple sub-funds, constituted in accordance with the law of 10 August 1915, in the form of a Limited Company ("société anonyme") and initially regulated by the provisions of part II of the law of 30 March 1988 relating to Collective Investment Undertakings.

It is subject to Part II of the Law of 2010 concerning collective investment undertakings, as amended (the "Law of 2010"), and qualifies itself as an alternative investment fund within the meaning of directive 2011/61/EU concerning alternative investment fund managers ("AIFM"), as transposed into Luxembourg law by the Law of 12 July 2013 (the "Law of 2013"). The Company has appointed Amundi Luxembourg S.A. as Alternative Investment Fund Manager (hereinafter referred to as "Amundi Luxembourg" or "AIFM").

As of 10 November 2014, the Company has signed an agreement of appointment for alternative fund management with Amundi Luxembourg, whereby the latter is appointed to be responsible for the day-to-day management, risk management, and all other functions (including the Company's administration and distribution) that an AIFM may carry out, pursuant to the provisions of Appendix 1 of Directive 2011/61/EU, it being free to carry out directly or to delegate all the operational functions relating to the joint management of the Company. In agreement with the Company, the AIFM has decided to delegate some of its functions, as described in the present prospectus dated May 2018.

The articles of incorporation of the SICAV, as amended most recently on 27 April 2012 and published on 22 June 2012 in the Series C Mémorial, the Compendium of Companies and Associations (hereinafter referred to as "the Mémorial"), where they may be examined and where copies thereof may be obtained after payment of the fees.

The SICAV was entered in the Luxembourg Trade and Companies Register under number B 26004. A legal notice was deposited with the Registrar of the District Court of and in Luxembourg where it may be consulted and where copies thereof may be obtained against payment of the Registrar's costs.

For AMUNDI INTERINVEST- CHINA A SHARES The A-market shares acquired by the sub-fund will be kept by a sub-custodian established in the PRC (the “ PRC Sub-Custodian”) which is responsible for providing the services of asset custody in the PRC. The PRC Sub-Custodian is also responsible for opening a special account in RMB and a corresponding exchange account in the joint names of the Sub-Fund and Amundi Hong Kong Ltd in accordance with Decree No. 36 on Qualified Foreign Institutional Investors (“QFII”). The PRC Sub- Custodian is responsible for fulfilling Amundi Hong Kong’s obligations to make declarations to the SAFE (State Administration of Foreign Exchange) and the CSRC (China Securities Regulatory Commission) and for establishing the ordinary securities account of the sub-fund opened with Amundi Hong Kong Ltd with the CSDCC (China Securities Depository and Clearing Corporation). The Board has been informed that the sub-custodian established in the Republic of China and appointed by Caceis Bank Luxembourg Branch, China Construction Bank, will be replaced by the Agricultural Bank of China. The Board decided to ass the Shenzhen Hong Kong Stock Connect system for investment in shares on the A market.

The financial year begins on 1 April and ends on 31 March of the following year.

At 30 September 2019, four sub-funds were open: AMUNDI INTERINVEST - CHINA A SHARES AMUNDI INTERINVEST - DIVERSIFIE AMUNDI INTERINVEST - CAPITAL BALANCED AMUNDI INTERINVEST - BOND GLOBAL INFLATION

On 30 September 2019, following accumulation shares are afforded at the investors: Accumulation shares Description For the sub-fund AMUNDI INTERINVEST - CHINA A SHARES Institutional « Class I » Class of shares reserved to institutional investors within the meaning of Luxembourg law and denominated in USD.

For the sub-fund AMUNDI INTERINVEST - DIVERSIFIE

Classic « Class C » Accumulation share accessible at all investors and denominated in Euro.

For the sub-fund AMUNDI INTERINVEST - CAPITAL BALANCED Classic « Class C » Accumulation share accessible at all investors and denominated in Euro.

Shares of this class are only offered within the context of the AMUNDI INTERINVEST - CAPITAL BALANCED sub-fund. This class of shares differs from the Classic "C Class" class by its use of the US Dollar as reference currency, instead of Classic II « Class C(2) » the Euro. The choice of a different reference currency for this class will not lead the investment manager to specifically cover the assets of this class against exchange rate risk.

For the sub-fund AMUNDI INTERINVEST - BOND GLOBAL INFLATION Institutional XVI « Class I(16) E» Class of shares reserved to institutional investors authorised by the Board of Directors, pursuant to Luxembourg law and denominated in euros. The shares of this class will be exclusively available in the AMUNDI INTERINVEST - BOND GLOBAL INFLATION sub-fund. Institutional XVI « Class I(16) HU» Class of shares reserved to institutional investors authorised by the Board of Directors, pursuant to Luxembourg law and denominated in dollars and hedged for foreign exchange risk against the reference currency of the sub-fund concerned. The shares of this class will be exclusively available in the AMUNDI INTERINVEST - BOND GLOBAL INFLATION sub-fund.

Note to the Financial Statements as at 30/09/19 (continued)

1 GENERALITIES (continued)

DEFINITION AND CALCULATION OF THE NET ASSET VALUE.

The net asset value shall be calculated for each sub-fund. The net asset value of shares is obtained by dividing the net asset value of the assets of each sub-fund by the number of shares in circulation on the same date for the sub-fund concerned. It is determined at Luxembourg, by the Administrative Agent, under the responsibility of the Board of Directors of Amundi Luxembourg (hereinafter referred to as the "Board of Directors").

every banking working day in Luxembourg for the sub-fund AMUNDI INTERINVEST - CHINA A SHARES. the banking working day in Luxembourg according to the date of applicable VNI for the sub-funds : AMUNDI INTERINVEST - CAPITAL BALANCED and AMUNDI INTERINVEST - BOND GLOBAL INFLATION. every Monday (if Monday is not a working day, the last banking day before the Monday) for the sub-fund AMUNDI INTERINVEST - DIVERSIFIE.

The net asset value of each sub-fund is expressed in the reference currency of the sub-fund concerned.

INFORMATION TO SHAREHOLDERS

Financial reports Annual reports including the financial statements audited by the statutory auditors and unaudited half-yearly reports will be held at shareholders’ disposal at the Company’s registered office and at such other establishments as it may designate. The annual reports including audited financial statements will be available within four months of the end of the financial year. The half-yearly reports will be published within two months of the end of the half-year in question. These periodic reports contain financial information relating to the various share classes of the Company’s various sub-funds, the composition of and changes in their net asset values, and the Company’s consolidated position. Financial statements are drawn up separately for each of the sub-funds, in their respective reference currencies

Net Asset Value The net asset value and the issue and redemption price of the shares of each of the sub-funds are available at the registered office of the SICAV, as well at the other establishments designated by it.

Other information Other information to shareholders will be published in the Mémorial (official state gazette) if such publication is prescribed by the laws of 10 August 1915 and 2010 as amended, or the Articles of Association or the prospectus

CONVERSION OF FOREIGN CURRENCIES

Bank deposits, other net assets and the value of portfolio securities denominated in currencies other than the base currency of the fund are converted to the reference currency of the sub-fund at the exchange rate prevailing at the closing date. Income and expenses in a currency other than the base currency of the fund are converted to the base currency of the fund at the exchange rate prevailing at the date of recognition.

The combined financial statements are expressed in Euros (EUR), and are calculated by summing the net assets of each sub-funds. The exchange rates used for the consolidation of 30 September 2019 are :

1 EUR = 1,0902 USD 1 EUR = 117,82335 JPY

For each sub-fund, the net asset value at the start of the period is converted into ("EUR") based on the exchange rates used at 31 March 2019.The exchange differences between the net asset value at the start of the period converted at the exchange rates used at 31 March 2019 and this value converted at the exchange rates used at 30 September 2019, if applicable, figure in the "revaluation of the opening balance sheet" in the statement of transactions and of variations in net assets.

2 PRINCIPLE ACCOUNTING METHODS

PRESENTATION OF THE FINANCIAL STATEMENTS

The SICAV’s financial statements are prepared in accordance with the regulatory provisions and the generally accepted accounting principles in force in Luxembourg concerning Undertakings for Collective Investment. The financial statements are presented on the basis of the latest Net Asset Value (“NAV”) calculated during the financial exercise. In accordance with the prospectus dated May 2018, the NAV were calculated using the latest market values and exchange rates known at the time of the calculation.

SECURITIES PORTFOLIO-ASSESSMENT

Securities listed or negotiated on an official Stock Market or other regulated market are assessed on the basis of the last known rate or, if there are several markets, on the basis of the last known rate of the main market for the security being considered, unless this rate is not representative. Securities not listed on a Stock Exchange or other regulated market and listed securities the rates of which are not representative are assessed at their last known trading value or, in the absence of a trading value, on the basis of the probable realisable value, which is estimated with caution and in good faith by the Board of Directors. Money market instruments with a maturity date of less than twelve months are assessed according to the “amortized cost basis”, a method consisting in taking account, after the purchase, of a constant amortized cost in order to reach the redemption price at the final maturity date. Increases in value are recognized as interest. Recording the purchase price of stock market securities includes the acquisition costs and excludes accrued coupons, except in cases where the stock market price takes account of the accrued coupons. The value of units in open-ended Collective Investment Undertakings, listed or unlisted, is determined according to the last available Total Net Asset Value.

Notes to the Financial Statements as at 30/09/19 (continued)

2 PRINCIPLE ACCOUNTING METHODS (continued)

EVALUATION OF FUTURES

During the financial period, the SICAV concluded a series of futures contracts. At the end of the period, the outstanding contracts are valued at their net liquidation value based on the closing price of the exchange on which the futures contracts are traded. The change in unrealised net gains or losses appears in the Statement of Operations and Changes in the Net Asset

VALUATION OF FORWARD FOREIGN EXCHANGE CONTRACTS

During the financial period, outstanding forward foreign exchange contracts are valued on the basis of exchange rates applicable on the valuation date or closing date and the resulting unrealised capital gain or loss are recorded in the Statement of Operations and Changes in Net Assets.

REPURCHASE / REVERSE REPURCHASE AGREEMENTS

Repurchase agreements ("Repos") are similar to secured borrowings of cash equal to the sales price of the related collateral. The underlying securities are accounted for in the investment portfolio of the SICAV, which remains exposed to the risk of depreciation in value. Reverse repurchase agreements (“reverse repos”) are similar to secured lending of cash. In this case, the SICAV is not exposed to the risk of depreciation in value. Repos and reverse repos transactions are accounted for as borrowings and loans, respectively, for the amount of cash received and/or paid. Interest is accrued separately and is included under the appropriate assets and liabilities heading.

NET REALISED PROFIT/ (LOSS) ON SALES OF SECURITIES

The profits or losses made on sales of securities are calculated on the basis of the average purchasing cost of these securities.

ASSETS AND OVERDRAFTS AT BROKERS

The assets on deposit at brokers are made up of blocked margins relating to forward-based and option-based contracts, as well as the available cash balance managed by the various brokers. Overdrafts at brokers are made up of margins advanced by the brokers on behalf of the SICAV for the forward-based and option- based contracts. At 30 September 2019, the assets of the SICAV with Caceis Paris amounted to €165,955 for the AMUNDI INTERINVEST - DIVERSIFIE sub-fund and €11,337 for the AMUNDI INTERINVEST - CAPITAL BALANCED sub-fund, which gives a net exposure of €177,292.

DISTRIBUTION OF COSTS AND EXPENSES

Each sub-fund is charged with costs or expenses specifically attributable to it. Costs and expenses not attributable to a specific sub-fund are distributed between the sub-funds on an equitable basis, in proportion to their respective Net Assets

TRANSACTION FEES

Transaction fees include broker fees, forex fees, stock exchange fees, handling charges, settlement fees and trading fees linked to transactions on portfolio securities, forward foreign exchange contracts and futures contracts

NET DIVIDENDS AND INCOME

The dividends are recognised as revenues net of withholding tax on the day they are declared, inasmuch as the information pertaining thereto is reasonably accessible to the SICAV. Interest is provisioned on a prorata basis at the time of each assessment of the net assets.

3 MANAGEMENT FEE

The management fees charged by the AIFM and payable monthly are calculated on each asset valuation on the basis of the rates set out hereunder as a percentage of net assets:

Share Class Management fee % p.a. max. Effective rates AMUNDI INTERINVEST - CHINA A SHARES Institutional « Class I » 1,20% 1,20% AMUNDI INTERINVEST - DIVERSIFIE Classic « Class C » 0,20% 0,20% AMUNDI INTERINVEST - CAPITAL BALANCED Classic « Class C » 1,75% 1,75% Classic II « Class C(2) » 1,75% 1,75% AMUNDI INTERINVEST - BOND GLOBAL INFLATION Institutional XVI « Class I(16) E» 0,11% 0,11% Institutional XVI « Class I(16) HU» 0,11% 0,11%

4 TAXE D'ABONNEMENT

The SICAV is governed by Luxembourg tax laws. Pursuant to the legislation and regulations currently in force, the SICAV is subject to local “taxe d’abonnement” at an annual rate of 0,05% on its credits, which is calculated and payable quarterly on the basis of the net asset of each sub-fund at the end of each quarter, with the exception of the shares “Institutional”, the sub-fund AMUNDI INTERINVEST - CHINA A SHARES which benefit from a reduced rate at 0,01% and the sub-fund AMUNDI INTERINVEST - BOND GLOBAL INFLATION, a feeder fund, that is not subject to the “taxe d’abonnement” for the portion paid for the sub-fund Amundi Funds Bond Global Inflation, the master fund, but is taxed at the reduced rate of 0,01% on the residual 15% portion that includes liquidities and derivative financial instruments. Further, the value of the assets represented by parts held in other undertakings for collective investment is exempt, as these units are already subject to the Luxembourg “taxe d’abonnement”.

Note to the Financial Statements as at 30/09/19 (continued)

5 ADMINISTRATIVE FEES

The administrative fees of the SICAV are expressed as a percentage of the net asset value of the sub-funds and share classes, payable monthly and calculated at each assets valuation. Such fee includes the remuneration of the Administration Agent, Domiciliary Agent, Transfer Agent and Registrar for its services rendered to the SICAV, the remuneration of the Custodian for its services rendered to the SICAV as well as all other administrative expenses incurred in the operation of the SICAV including, but not limited to: - the fees of auditors and legal advisers of the SICAV (including costs associated with compliance with legal and regulatory requirements); - the cost of translation, printing and distributing to investors the annual and semi-annual reports and of the prospectus of the SICAV; - any costs related to the information of the shareholders including costs related to the publication of prices of shares in the financial press, the production of information material for the subscribers and distributors; - any fees and expenses involved in registering and maintaining the registration of the SICAV with any governmental agency or stock exchange and to comply with any regulatory requirements and the reimbursement of such fees and expenses incurred by any local representative; - the fees of any local representative/correspondent, of which the services are required pursuant to the applicable law; - the costs related to extraordinary measures, in particular any expertise or trial aiming at the protection of the shareholders’ interests; - the costs related to the translation, distribution and publication of any notice to the shareholders.

The Administrative Fee is payable monthly in arrears to Amundi Luxembourg, S.A. and is calculated every day for each sub-fund and each class of shares, except for the AMUNDI INTERINVEST - DIVERSIFIE sub-fund, which is calculated every Monday or on the last business day in Luxembourg before the Monday, if it is not a business day in Luxembourg.

Amundi Luxembourg S.A. will pay the fees of the Custodian, the Administration Agent, the Domiciliary Agent, the Transfer Agent and the Registrar and the administrative expenses of the SICAV.

The subscription taxes, royalties due to the control authorities and the broker fees and commissions incurred by transactions on portfolio securities were not covered by these administrative fees.

The maximum amount of the administrative fees, expressed in percentage of the net asset value, is detailed below:

Share Class Administrative fees % p.a. max. Effective rates Indirect fees AMUNDI INTERINVEST - CHINA A SHARES Institutional « Class I » 0,40% 0,40% - AMUNDI INTERINVEST - DIVERSIFIE Classic « Class C » 0,12% 0,12% - AMUNDI INTERINVEST - CAPITAL BALANCED Classic « Class C » 0,40% 0,40% - Classic II « Class C(2) » 0,40% 0,40% - AMUNDI INTERINVEST - BOND GLOBAL INFLATION Institutional XVI « Class I(16) E» 0,03% 0,03% 0,06% Institutional XVI « Class I(16) HU» 0,03% 0,03% 0,06%

6 PERFORMANCE FEE

Performance fees are calculated independently for each class of shares. They are accrued daily and paid annually to Amundi Luxembourg S.A..

Performance fee

AMUNDI INTERINVEST - CHINA A SHARES (*) 15% applied for all performances exceeding the CSI300 index increased by 2%.

AMUNDI INTERINVEST - CAPITAL BALANCED (**) 20% of performance above the benchmark performance (EONIA +5%).

(*) No performance fee for Share PU2. (**) The outperformance of a class of shares is calculated based on the change in the net asset value of the share class in relation to the performance benchmark: performance fees are deducted in accordance with the High Water Mark principle.

7 FUTURES

As 30 September 2019, the open positions on futures contracts arranged by sub-fund were as follows:

AMUNDI INTERINVEST - DIVERSIFIE

Bond Futures

Unrealised Quantity Description Position Currency Maturity Date Commitment in EUR appreciation/depreciation in EUR -8 EURO SCHATZ FUT DEC1 Short EUR 12/2019 -898.600 2.840 -12 EURO BUND FUTURE Short EUR 12/2019 -2.090.520 12.120 Total -2.989.120 14.960

Notes to the Financial Statements as at 30/09/19 (continued)

7 FUTURES (continued)

Index Futures

Unrealised Quantity Description Position Currency Maturity Date Commitment in EUR appreciation/depreciation in EUR 12 NIKKEI 225 ( /201912 Long USD 12/2019 1.190.957 28.226 55 DJ EURO STOX /201912 Long EUR 12/2019 1.941.500 9.350 Total 3.132.457 37.576

As at 30 September 2019, the unrealised appreciation / depreciation is EUR 52.536.

AMUNDI INTERINVEST - CAPITAL BALANCED

Index Futures

Quantity Unrealised Description Position Currency Maturity Date Commitment in EUR (Buy/(Sell)) appreciation/depreciation in EUR 1 SP 500 EMINI INDEX Long USD 12/2019 136.523 -1.624 Total 136.523 -1.624

Currency Futures

Quantity Unrealised Description Position Currency Maturity Date Commitment in EUR (Buy/(Sell)) appreciation/depreciation in EUR EURO E-MINI 2 /201912 Long USD 12/2019125.699 -1.101 Total 125.699 -1.101

As at 30 September 2019, the unrealised appreciation / depreciation is EUR 2.724. All futures contracts are listed with the broker CACEIS BANK PARIS.

8 FORWARD FOREIGN EXCHANGE CONTRATS

As 30 September 2019, the open forward foreign exchange contract was as follows:

AMUNDI INTERINVEST - BOND GLOBAL INFLATION

Unrealised Purchase Currency Sale Currency Maturity Date appreciation/depreciation in EUR 268.284 USD 244.613 EUR 31/10/2019 941 Total 941

The counterparty of the forward foreign exchange contracts is CACEIS BANK PARIS.

9 COLLATERAL

At 30 September 2019, the statement of collateral received and given, consisting of deposits in guarantee for futures and options contracts or cash deposited by or received from brokers and counterparties in respect of OTC (over-the-counter) transactions is as follows:

Currency of the Amount of collateral given (in Sub-fund Counterparty sub-fund the currency of the sub-fund) AMUNDI INTERINVEST - CHINA A SHARES USD China Construction Bank 5.666

10 CHANGES IN THE COMPOSITION OF THE PORTFOLIO

The list of changes in the composition of the investment portfolio from 1 April 2019 to 30 September 2019 is available free of charge at the office of the Administrative Agent.

Supplementary Information

1 SFTR (Securities Financing Transactions and of Reuse Regulation)

The Company does not use any instruments falling into the scope of “SFTR”.

19 AMUNDI INTERINVEST Société d'investissement à capital variable R.C.S. Luxembourg B 26.004 5, allée Scheffer - L-2520 Luxembourg Tel. + 352 26 86 80 99 Fax + 352 26 86 80 80