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A Mutual Fund (“Fonds Commun de Placement”) governed by theLaw
of Luxembourg
Subscriptions cannot be accepted on the basis of this financial
report.Subscriptions are only valid if made on the basis of the
current Prospectus, the Key InvestorInformation Document,
accompanied by a copy of the latest annual report or a copy of
thesubsequent semi-annual report if it has been published.
Annual report as at 31 December 2015
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Eurizon EasyFund
Table of contents
Organisation of the Fund 6
Board of Directors of the Management Company'sReport on the
management of the Fund
16
Report of the Réviseur d’Entreprises Agréé 21
Comparative Net Asset Values over the last threeyears
23
Combined Statement of Net Assets 28
Combined Statement of Changes in Net Assets 29
Line “Limited Tracking Error”
Eurizon EasyFund - Cash EUR 30Statement of Net Assets
30Statement of Changes in Net Assets 31Portfolio 32Commitments on
future contracts 34
Eurizon EasyFund - Treasury USD 35Statement of Net Assets
35Statement of Changes in Net Assets 36Portfolio 37
Eurizon EasyFund - Bond EUR Short Term LTE 39Statement of Net
Assets 39Statement of Changes in Net Assets 40Portfolio
41Commitments on future contracts 44
Eurizon EasyFund - Bond EUR Medium Term LTE 45Statement of Net
Assets 45Statement of Changes in Net Assets 46Portfolio
47Commitments on future contracts 50
Eurizon EasyFund - Bond EUR Long Term LTE 51Statement of Net
Assets 51Statement of Changes in Net Assets 52Portfolio
53Commitments on future contracts 57
Eurizon EasyFund - Bond EUR Floating Rate LTE 58Statement of Net
Assets 58Statement of Changes in Net Assets 59Portfolio 60
Eurizon EasyFund - Bond GBP LTE 61Statement of Net Assets
61Statement of Changes in Net Assets 62Portfolio 63Commitments on
future contracts 64
Forward foreign exchange contracts 65
Eurizon EasyFund - Bond JPY LTE 66
Statement of Net Assets 66Statement of Changes in Net Assets
67Portfolio 68Commitments on future contracts 70Forward foreign
exchange contracts 71
Eurizon EasyFund - Bond USD LTE 72Statement of Net Assets
72Statement of Changes in Net Assets 73Portfolio 74Commitments on
future contracts 77Forward foreign exchange contracts 78
Eurizon EasyFund - Bond International LTE 79Statement of Net
Assets 79Statement of Changes in Net Assets 80Portfolio
81Commitments on future contracts 88Forward foreign exchange
contracts 89
Eurizon EasyFund - Equity Italy LTE 90Statement of Net Assets
90Statement of Changes in Net Assets 91Portfolio 92Commitments on
future contracts 95
Eurizon EasyFund - Equity Euro LTE 96Statement of Net Assets
96Statement of Changes in Net Assets 97Portfolio 98Commitments on
future contracts 104
Eurizon EasyFund - Equity Europe LTE 105Statement of Net Assets
105Statement of Changes in Net Assets 106Portfolio 107Commitments
on future contracts 117Forward foreign exchange contracts 118
Eurizon EasyFund - Equity North America LTE 119Statement of Net
Assets 119Statement of Changes in Net Assets 120Portfolio
121Commitments on future contracts 130Forward foreign exchange
contracts 131
Eurizon EasyFund - Equity Japan LTE 132Statement of Net Assets
132Statement of Changes in Net Assets 133Portfolio 134Commitments
on future contracts 139Forward foreign exchange contracts 140
Eurizon EasyFund - Equity Oceania LTE 141Statement of Net Assets
141Statement of Changes in Net Assets 142Portfolio 143Commitments
on future contracts 147
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Eurizon EasyFund
Forward foreign exchange contracts 148
Eurizon EasyFund - Equity Latin America LTE 149Statement of Net
Assets 149Statement of Changes in Net Assets 150Portfolio
151Commitments on future contracts 155Forward foreign exchange
contracts 156
Eurizon EasyFund - Equity China LTE 157Statement of Net Assets
157Statement of Changes in Net Assets 158Portfolio 159Commitments
on future contracts 163Forward foreign exchange contracts 164
Eurizon EasyFund - Equity Emerging Markets LTE 165Statement of
Net Assets 165Statement of Changes in Net Assets 166Portfolio
167Commitments on future contracts 187Forward foreign exchange
contracts 188
Eurizon EasyFund - Equity Emerging Markets EMEALTE
189
Statement of Net Assets 189Statement of Changes in Net Assets
190Portfolio 191Commitments on future contracts 196Forward foreign
exchange contracts 197
Eurizon EasyFund - Equity Emerging Markets AsiaLTE
198
Statement of Net Assets 198Statement of Changes in Net Assets
199Portfolio 200Commitments on future contracts 212Forward foreign
exchange contracts 213
Eurizon EasyFund - Equity Emerging Markets NewFrontiers LTE
214
Statement of Net Assets 214Statement of Changes in Net Assets
215Portfolio 216Forward foreign exchange contracts 222
Eurizon EasyFund - Equity Energy & Materials LTE
223Statement of Net Assets 223Statement of Changes in Net Assets
224Portfolio 225Commitments on future contracts 231Forward foreign
exchange contracts 232
Eurizon EasyFund - Equity Industrials LTE 233Statement of Net
Assets 233Statement of Changes in Net Assets 234Portfolio
235Commitments on future contracts 241Forward foreign exchange
contracts 242
Eurizon EasyFund - Equity Consumer DiscretionaryLTE
243
Statement of Net Assets 243Statement of Changes in Net Assets
244Portfolio 245Forward foreign exchange contracts 251
Eurizon EasyFund - Equity Consumer Staples LTE 252Statement of
Net Assets 252Statement of Changes in Net Assets 253Portfolio
254Forward foreign exchange contracts 257
Eurizon EasyFund - Equity Pharma LTE 258Statement of Net Assets
258Statement of Changes in Net Assets 259Portfolio 260Commitments
on future contracts 263Forward foreign exchange contracts 264
Eurizon EasyFund - Equity Financial LTE 265Statement of Net
Assets 265Statement of Changes in Net Assets 266Portfolio
267Commitments on future contracts 275Forward foreign exchange
contracts 276
Eurizon EasyFund - Equity High Tech LTE 277Statement of Net
Assets 277Statement of Changes in Net Assets 278Portfolio
279Forward foreign exchange contracts 283
Eurizon EasyFund - Equity Telecommunication LTE 284Statement of
Net Assets 284Statement of Changes in Net Assets 285Portfolio
286Commitments on future contracts 288Forward foreign exchange
contracts 289
Eurizon EasyFund - Equity Utilities LTE 290Statement of Net
Assets 290Statement of Changes in Net Assets 291Portfolio
292Commitments on future contracts 294Forward foreign exchange
contracts 295
Line “Active - Market”
Eurizon Easyfund - Treasury EUR T1(4) 296Statement of Net Assets
296Statement of Changes in Net Assets 297Portfolio 298
Eurizon EasyFund - Bond Inflation Linked 300Statement of Net
Assets 300Statement of Changes in Net Assets 301Portfolio 302
Eurizon EasyFund - Bond Corporate EUR ShortTerm
304
Statement of Net Assets 304
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Eurizon EasyFund
Statement of Changes in Net Assets 305Portfolio 306Commitments
on future contracts 314Forward foreign exchange contracts 315
Swap contracts 316
Eurizon EasyFund - Bond Corporate EUR 317Statement of Net Assets
317Statement of Changes in Net Assets 318Portfolio 319Commitments
on future contracts 330
Forward foreign exchange contracts 331Swap contracts 332
Eurizon EasyFund - Bond High Yield 333Statement of Net Assets
333Statement of Changes in Net Assets 334Portfolio 335Forward
foreign exchange contracts 343Swap contracts 344
Eurizon EasyFund - Bond Emerging Markets 345Statement of Net
Assets 345Statement of Changes in Net Assets 346Portfolio
347Commitments on future contracts 355Forward foreign exchange
contracts 356Swap contracts 357
Eurizon EasyFund - Bond Emerging Markets inLocal Currencies
358
Statement of Net Assets 358Statement of Changes in Net Assets
359Portfolio 360Option contracts 364Forward foreign exchange
contracts 365Swap contracts 367
Eurizon EasyFund - Bond Flexible 368Statement of Net Assets
368Statement of Changes in Net Assets 369Portfolio 370Commitments
on future contracts 380Option contracts 381Forward foreign exchange
contracts 382Swap contracts 383
Eurizon EasyFund - Equity Italy 384Statement of Net Assets
384Statement of Changes in Net Assets 385Portfolio 386Commitments
on future contracts 389Option contracts 390
Eurizon EasyFund - Equity Europe 391Statement of Net Assets
391Statement of Changes in Net Assets 392Portfolio 393Commitments
on future contracts 397Forward foreign exchange contracts 398
Eurizon EasyFund - Equity Small Cap Europe 400
Statement of Net Assets 400
Statement of Changes in Net Assets 401Portfolio 402Commitments
on future contracts 409Forward foreign exchange contracts 410Swap
contracts 412
Eurizon EasyFund - Equity Eastern Europe 4139Statement of Net
Assets 413
Statement of Changes in Net Assets 414Portfolio 415Commitments
on future contracts 418Forward foreign exchange contracts 419
Line “Active - Strategy”
Eurizon EasyFund - Azioni Strategia Flessibile 420Statement of
Net Assets 420Statement of Changes in Net Assets 421Portfolio
422Forward foreign exchange contracts 426
Eurizon EasyFund - Orizzonte Protetto 6(1) 427Statement of
Changes in Net Assets 427
Eurizon EasyFund - Orizzonte Protetto 12(2) 428Statement of
Changes in Net Assets 428
Eurizon EasyFund - Orizzonte Protetto 24(3) 429Statement of
Changes in Net Assets 429
Eurizon EasyFund - Absolute Prudente 430Statement of Net Assets
430Statement of Changes in Net Assets 431Portfolio 432Commitments
on future contracts 434Forward foreign exchange contracts 435
Eurizon EasyFund - Absolute Attivo 436Statement of Net Assets
436Statement of Changes in Net Assets 437Portfolio 438Commitments
on future contracts 439Forward foreign exchange contracts 440
Eurizon EasyFund - GT Asset Allocation 441Statement of Net
Assets 441Statement of Changes in Net Assets 442Portfolio
443Commitments on future contracts 444Forward foreign exchange
contracts 445
Eurizon EasyFund - Trend 446Statement of Net Assets 446Statement
of Changes in Net Assets 447Portfolio 448Commitments on future
contracts 449Forward foreign exchange contracts 450
Eurizon EasyFund - Equity Absolute Return 451Statement of Net
Assets 451Statement of Changes in Net Assets 452
Portfolio 453
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Eurizon EasyFund
Commitments on future contracts 458Forward foreign exchange
contracts 459Swap contracts 460
Eurizon EasyFund - Multiasset 461Statement of Net Assets
461Statement of Changes in Net Assets 462Portfolio 463Commitments
on future contracts 470Option contracts 471Forward foreign exchange
contracts 472
Eurizon EasyFund - Flexible Beta Total Return 473Statement of
Net Assets 473Statement of Changes in Net Assets 474Portfolio
475Commitments on future contracts 480Option contracts 481Forward
foreign exchange contracts 482Swap contracts 483
Eurizon Easyfund - Dynamic Asset Allocation 484Statement of Net
Assets 484Statement of Changes in Net Assets 485Portfolio
486Commitments on future contracts 488Forward foreign exchange
contracts 489Swap contracts 490
Notes to the financial statements 491
(1) The Sub-fund has merged into Eurizon Opportunità -
Flessibile15 on 10 July 2015(2) The Sub-fund has merged into
Eurizon Opportunità - Flessibile15 on 10 July 2015(3) The Sub-fund
has merged into into Eurizon Opportunità -Flessibile 15 on 10 July
2015(4) The Sub-fund was launched on 24 March 2015
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ORGANISATION OF THE FUND Eurizon EasyFund
MANAGEMENT COMPANY AND PROMOTER
Eurizon Capital S.A.8, avenue de la LibertéL-1930 Luxembourg
(Grand Duchy of Luxembourg)
R.C.S Luxembourg B 28536
BOARD OF DIRECTORS OF THE MANAGEMENT COMPANY
Chairman of the Board of DirectorsMr. Tommaso CORCOSManaging
Director ofEurizon Capital SGR S.p.A., MilanResident of Milan
(Italy)
Vice-Chairman of the Board of DirectorsMr. Daniel
GROSIndependent DirectorResident of Brussels (Belgium)
Managing DirectorMr. Massimo MAZZINIGeneral Manager of Eurizon
Capital S.A., LuxembourgResident of Luxembourg (Grand Duchy of
Luxembourg)(until 7 July 2015)
Managing DirectorMr. Bruno ALFIERIGeneral Manager of Eurizon
Capital S.A., LuxembourgResident of luxembourg (Grand Duchy of
Luxembourg)(since 8 July 2015)
DirectorMr. Massimo MAZZINIHead of Marketing and Business
Development of Eurizon Capital SGRS.p.A., MilanResident of Milan
(Italy)(since 8 July 2015)
DirectorMr. Bruno ALFIERIGeneral Manager and Director of
Fideuram Bank Luxembourg S.A.,LuxembourgResident of Luxembourg
(Grand Duchy of Luxembourg)(until 7 July 2015)
DirectorMr. Massimo TORCHIANACo-General Manager ofEurizon
Capital S.A., LuxembourgResident of Luxembourg (Grand Duchy of
Luxembourg)
DirectorMr. Alex SCHMITTIndependent Director, Lawyer,
LuxembourgResident of Luxembourg (Grand Duchy of Luxembourg)
DirectorMr. Claudio SOZZINIIndependent DirectorResident of Milan
(Italy)
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ORGANISATION OF THE FUND Eurizon EasyFund
DirectorMs. Zhen GAOIndependent Director, Managing Partner of
Mandarin Capital Partners,Resident of Beijing, People’s Republic of
China(since 10 September 2015)
DEPOSITARY BANK AND PAYING AGENTState Street Bank Luxembourg
S.C.A.49, avenue J.F. KennedyL-1855 Luxembourg (Grand Duchy of
Luxembourg)
ADMINISTRATIVE AGENT, REGISTRAR AND TRANSFER AGENTState Street
Bank Luxembourg S.C.A.49, avenue J.F. KennedyL-1855 Luxembourg
(Grand Duchy of Luxembourg)
(these functions have been delegated by Eurizon Capital
S.A.)
INVESTMENT MANAGERSEurizon Capital S.A.8, avenue de la
LibertéL-1930 Luxembourg (Grand Duchy of Luxembourg)
Eurizon Capital SGR S.p.A.3, piazzetta Giordano
dell’AmoreI-20121 Milan (Italy)
(this function has been delegated by Eurizon Capital S.A. to
Eurizon CapitalSGR S.p.A. for the Sub-Funds Eurizon EasyFund -
Equity Small CapEurope, Eurizon EasyFund - Bond High Yield, Eurizon
EasyFund - BondCorporate EUR Short Term, Eurizon EasyFund - Bond
Emerging Markets,Eurizon EasyFund - Bond Corporate EUR, Eurizon
EasyFund - BondEmerging Markets in Local Currencies, Eurizon
EasyFund - GT AssetAllocation, Eurizon EasyFund - Trend, Eurizon
EasyFund - Azioni StrategiaFlessibile, Eurizon EasyFund - Equity
Italy, Eurizon EasyFund - EquityEurope, Eurizon EasyFund - Bond
Flexible, Eurizon EasyFund - EquityAbsolute Return, Eurizon
EasyFund - Multiasset, Eurizon EasyFund -Flexible Beta Total
Return, and Eurizon EasyFund - Dynamic AssetAllocation)
Epsilon Associati SGR S.p.A.3, piazzetta Giordano
dell’AmoreI-20121 Milan (Italy)
(this function has been delegated by Eurizon Capital S.A. to
EpsilonAssociati SGR S.p.A. for the Sub-Funds Eurizon EasyFund -
AbsolutePrudente, Eurizon EasyFund - Absolute Attivo, Eurizon
EasyFund -Orizzonte Protetto 6, Eurizon EasyFund - Orizzonte
Protetto 12 and EurizonEasyFund - Orizzonte Protetto 24)
INDEPENDENT AUDITOR OF THE INVESTMENT FUND AND OF THE MANAGEMENT
COMPANYKPMG Luxembourg, Société coopérative39, avenue John F.
KennedyL-1855 Luxembourg (Grand Duchy of Luxembourg)
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ORGANISATION OF THE FUND Eurizon EasyFund
CONSTITUTIONEurizon Capital S.A., the Management Company, was
incorporated as a Limited Company under the Lawsof the Grand Duchy
of Luxembourg. The Management Regulations were published in the
“Memorial” on 28September 1988.
Eurizon EasyFund (the “Fund”) was created in the Grand Duchy of
Luxembourg on 27 July 1988 and isadministered by Eurizon Capital
S.A. (the “Management Company”) by virtue of Management
Regulationspublished on 28 September 1988 in the “Mémorial, Recueil
Spécial des Sociétés et Associations” in theGrand Duchy of
Luxembourg, after submission to the “Registre de Commerce et des
Sociétés” inLuxembourg. Amendments were made to the Management
regulations and were published in the “Mémorial,Recueil Spécial des
Sociétés et Associations” in the Grand Duchy of Luxembourg on 20
January 1991, 13November 1992, 10 September 1998, 10 June 2000, 20
September 2002, 17 October 2003, 9 September2005 and 3 July 2006.
The notification of the filing with the “Registre de Commerce et
des Sociétés” inLuxembourg of the latest modifications to the
Management Regulations were published in the “Mémorial,Recueil
Spécial des Sociétés et Associations” on 14 May 2007, 14 December
2007, 20 March 2008, 27February 2009, 20 October 2009, 22 March
2010, 11 June 2010, 20 June 2011, 1 February 2012 , 29 June2012, on
28 April 2014, on 8 August 2014 and on 16 January 2015. The
Management Regulations in forcehave been filed with the “Registre
de Commerce et des Sociétés” in Luxembourg, where they may
beconsulted and where copies may be obtained.
The name of the Fund was modified pursuant to the decision made
by the Board of Directors of theManagement Company on 24 August
1998 from “Sanpaolo ECU Fund” to “Sanpaolo International Fund”.The
Management Company has decided to modify the Fund’s name from
“Sanpaolo International Fund” to“Eurizon EasyFund” with effective
date 26 February 2008.
The Fund is an umbrella fund. The Sub-Funds which are active on
31 December 2015 are listed below:
Line “Limited Tracking Error”:
Eurizon EasyFund - Cash EUREurizon EasyFund - Treasury
USDEurizon EasyFund - Bond EUR Short Term LTEEurizon EasyFund -
Bond EUR Medium Term LTEEurizon EasyFund - Bond EUR Long Term
LTEEurizon EasyFund - Bond EUR Floating Rate LTEEurizon EasyFund -
Bond GBP LTEEurizon EasyFund - Bond JPY LTEEurizon EasyFund - Bond
USD LTEEurizon EasyFund - Bond International LTEEurizon EasyFund -
Equity Italy LTEEurizon EasyFund - Equity Euro LTEEurizon EasyFund
- Equity Europe LTEEurizon EasyFund - Equity North America
LTEEurizon EasyFund - Equity Japan LTEEurizon EasyFund - Equity
Oceania LTEEurizon EasyFund - Equity Latin America LTEEurizon
EasyFund - Equity China LTEEurizon EasyFund - Equity Emerging
Markets LTEEurizon EasyFund - Equity Emerging Markets EMEA
LTEEurizon EasyFund - Equity Emerging Markets Asia LTEEurizon
EasyFund - Equity Emerging Markets New Frontiers LTEEurizon
EasyFund - Equity Energy & Materials LTEEurizon EasyFund -
Equity Industrials LTEEurizon EasyFund - Equity Consumer
Discretionary LTEEurizon EasyFund - Equity Consumer Staples
LTEEurizon EasyFund - Equity Pharma LTEEurizon EasyFund - Equity
Financial LTEEurizon EasyFund - Equity High Tech LTE
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ORGANISATION OF THE FUND Eurizon EasyFund
Eurizon EasyFund - Equity Telecommunication LTEEurizon EasyFund
- Equity Utilities LTE
Line “Active - Market”:
Eurizon EasyFund - Treasury EUR T11Eurizon EasyFund - Bond
Inflation LinkedEurizon EasyFund - Bond Corporate EUR Short
TermEurizon EasyFund - Bond Corporate EUREurizon EasyFund - Bond
FlexibleEurizon EasyFund - Bond High YieldEurizon EasyFund - Bond
Emerging MarketsEurizon EasyFund - Bond Emerging Markets in Local
CurrenciesEurizon EasyFund - Equity ItalyEurizon EasyFund - Equity
EuropeEurizon EasyFund - Equity Small Cap EuropeEurizon EasyFund -
Equity Eastern Europe
Line “Active - Strategy”:
Eurizon EasyFund - Azioni Strategia FlessibileEurizon EasyFund -
Orizzonte Protetto 6 2Eurizon EasyFund - Orizzonte Protetto 12
3Eurizon EasyFund - Orizzonte Protetto 24 4Eurizon EasyFund -
Absolute Prudente 5Eurizon EasyFund - Absolute AttivoEurizon
EasyFund - GT Asset AllocationEurizon EasyFund - TrendEurizon
EasyFund - Equity Absolute ReturnEurizon EasyFund -
MultiassetEurizon EasyFund - Flexible Beta Total ReturnEurizon
EasyFund - Dynamic Asset Allocation
1 The Sub-Fund was launched launched on 24 March 20152 The
Sub-Fund has merged into Eurizon Opportunità - Flessibile 15 on 10
July 20153 The Sub-Fund has merged into Eurizon Opportunità -
Flessibile 15 on 10 July 20154 The Sub-Fund has merged into Eurizon
Opportunità - Flessibile 15 on 10 July 20155 The Sub-Funds Eurizon
Investment SICAV – Scudo and Eurizon Investment SICAV – Strategic
Europe have mergedinto The Sub-fund on 16 January 2015
The Sanpaolo Ecu Fund - Obligations and Sanpaolo Ecu Fund -
Mixte Sub-Funds were launched on 29November 1988.
The Sanpaolo Ecu Fund - Obligations France and Sanpaolo Ecu Fund
- Actions France Sub-Funds werelaunched on 16 February 1990.
The Sanpaolo Ecu Fund - Actions Sub-Fund was launched on 20
February 1990.
The Sanpaolo Ecu Fund - Obligations Italie Sub-Fund was launched
on 8 February 1993. The Sanpaolo EcuFund - Actions Italie Sub-Fund
was launched on 6 April 1993 while the Sanpaolo Ecu Fund -
ActionsAllemagne and Sanpaolo Ecu Fund - Obligations Ibérie
Sub-Funds were launched on 7 December 1993.
The Fund was renamed Sanpaolo International Fund pursuant to the
decision made by the Board ofDirectors of the Management Company on
24 August 1998.
The Sub-Funds named Sanpaolo Ecu Fund - Obligations, Sanpaolo
Ecu Fund - Mixte, Sanpaolo Ecu Fund -Actions, Sanpaolo Ecu Fund -
Actions Allemagne, Sanpaolo Ecu Fund - Obligations Italie, Sanpaolo
EcuFund - Actions Italie and Sanpaolo Ecu Fund - Actions France
were respectively renamed SanpaoloInternational Fund - Bonds Euro,
Sanpaolo International Fund - Mixed, Sanpaolo International Fund -
EquityEurope Small Cap, Sanpaolo International Fund - Equity
Germany, Sanpaolo International Fund - BondsItaly, Sanpaolo
International Fund - Equity Italy and Sanpaolo International Fund -
Equity France pursuant tothe decision made by the Board of
Directors of the Management Company on 24 August 1998.
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ORGANISATION OF THE FUND Eurizon EasyFund
The Sanpaolo Ecu Fund - Obligations France and Sanpaolo Ecu Fund
- Obligations Ibérie Sub-Fundsmerged with effect from 26 September
1998 into the Sanpaolo International Fund - Bonds Euro
Sub-Fundpursuant to the decision made by the Board of Directors of
the Management Company on 24 August 1998.
The Sanpaolo International Fund - Equity USA, Sanpaolo
International Fund - Equity Japan and SanpaoloInternational Fund -
Equity Europe Sub-Funds were launched on 15 October 1998.
The Sanpaolo International Fund - Bonds US$, Sanpaolo
International Fund - Bonds Yen and SanpaoloInternational Fund -
Equity Emerging Markets Far East Sub-Funds were launched on 20
October 1998.
The Sanpaolo International Fund - Bonds Italy Sub-Fund was
renamed Euro Short Term on 1 February1999.
The Sanpaolo International Fund - Bonds UK£, Sanpaolo
International Fund - Bonds Emerging Markets,Sanpaolo International
Fund - Equity Great Britain, and Sanpaolo International Fund -
Equity Latin AmericaSub-Funds were launched on 15 February
1999.
The Sanpaolo International Fund - Equity Switzerland, Sanpaolo
International Fund - Equity Scandinavia,Sanpaolo International Fund
- Equity Canada, Sanpaolo International Fund - Equity Australia and
SanpaoloInternational Fund - Equity Africa Sub-Funds were launched
on 15 July 1999.
The Sanpaolo International Fund - Bonds FrSw, Sanpaolo
International Fund - Bonds Equity EmergingMarkets Europe, Sanpaolo
International Fund - Equity China, Sanpaolo International Fund -
Euro MediumTerm, Sanpaolo International Fund - Euro Long Term and
Sanpaolo International Fund - Dollar Short TermSub-Funds were
launched on 16 July 1999.
The Sanpaolo International Fund - World Convertible Bonds
Sub-Fund was launched on 16 September1999.
The Sanpaolo International Fund - Autumn 36-100 Sub-Fund was
launched on 18 October 1999.
The Sanpaolo International Fund - Winter 36-100 Sub-Fund was
launched on 15 January 2000.
The Sanpaolo International Fund - Bond High Yield, Sanpaolo
International Fund - Equity Energy andMaterials, Sanpaolo
International Fund - Equity Biotech, Sanpaolo International Fund -
Equity Utilities,Sanpaolo International Fund - Equity Information
Technology, Sanpaolo International Fund - Equity Finance,Sanpaolo
International Fund - Equity Telecommunications, Sanpaolo
International Fund - Equity HighGrowth, Sanpaolo International Fund
- Equity Media, Sanpaolo International Fund - Equity World Small
Cap,Sanpaolo International Fund - Equity US Small Cap, Sanpaolo
International Fund - Equity Pacific Small Cap,Sanpaolo
International Fund - Equity Eastern Europe and Sanpaolo
International Fund - Equity India Sub-Funds were launched on 14
July 2000.
The Sanpaolo International Fund - Obiettivo USA, Sanpaolo
International Fund - Obiettivo Euro, SanpaoloInternational Fund -
Obiettivo Europa, Sanpaolo International Fund - Obiettivo Giappone,
SanpaoloInternational Fund - Obiettivo Italia and Sanpaolo
International Fund - Obiettivo Paesi Emergenti Sub-Fundswere
launched on 11 June 2001.
The Sub-Funds known as Sanpaolo International Fund - Equity
Biotech, Sanpaolo International Fund -Equity Energy and Materials,
Sanpaolo International Fund - Equity Finance, Sanpaolo
International Fund -Equity Media, Sanpaolo International Fund -
Euro Short Term, Sanpaolo International Fund - Euro MediumTerm,
Sanpaolo International Fund - Euro Long Term, Sanpaolo
International Fund - Bonds US$ andSanpaolo International Fund -
Bonds Yen were respectively renamed Sanpaolo International Fund
-Obiettivo Biofarma, Sanpaolo International Fund - Obiettivo
Materie Prime, Sanpaolo International Fund -Obiettivo Finanza,
Sanpaolo International Fund - Obiettivo Media, Sanpaolo
International Fund - ObiettivoEuro Breve Termine, Sanpaolo
International Fund - Obiettivo Euro Medio Termine, Sanpaolo
InternationalFund - Obiettivo Euro Lungo Termine, Sanpaolo
International Fund - Obiettivo Obbligazionario Dollari,Sanpaolo
International Fund - Obiettivo Obbligazionario Yen pursuant to the
decision made by the Board ofDirectors of the Management Company on
15 November 2001.
The Sub-Funds known as Sanpaolo International Fund - Equity
Information Technology, SanpaoloInternational Fund - Equity
Telecommunications, Sanpaolo International Fund - Equity Utilities
wererespectively renamed Sanpaolo International Fund - Obiettivo
Alta Tecnologia, Sanpaolo International Fund- Obiettivo
Telecomunicazioni, Sanpaolo International Fund - Obiettivo
Utilities pursuant to the decisionmade by the Board of Directors of
the Management Company on 26 November 2001.
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ORGANISATION OF THE FUND Eurizon EasyFund
On 27 September 2002, the Sub-Funds Sanpaolo International Fund
- Obiettivo USA, SanpaoloInternational Fund - Equity Emerging
Markets Europe, Sanpaolo International Fund - Equity
EmergingMarkets Far East, Sanpaolo International Fund - Equity
World Small Cap, Sanpaolo International Fund -Equity Great Britain,
Sanpaolo International Fund - Equity Australia, Sanpaolo
International Fund - EquityLatin America, Sanpaolo International
Fund - Equity China, Sanpaolo International Fund - Obiettivo
MateriePrime, Sanpaolo International Fund - Obiettivo Media,
Sanpaolo International Fund - Obiettivo Biofarma,Sanpaolo
International Fund - Obiettivo Finanza, Sanpaolo International Fund
- Equity Europe Small Cap,Sanpaolo International Fund - Equity US
Small Cap, Sanpaolo International Fund - Mixed,
SanpaoloInternational Fund - Obiettivo Euro Breve Termine, Sanpaolo
International Fund - Obiettivo Euro MedioTermine, Sanpaolo
International Fund - Bonds Euro, Sanpaolo International Fund -
Bonds FrSw, SanpaoloInternational Fund - Bonds UK£, Sanpaolo
International Fund - Dollar Short Term, Sanpaolo InternationalFund
- World Convertible Bonds, Sanpaolo International Fund - Bonds
Emerging Markets, SanpaoloInternational Fund - Bond High Yield,
were respectively renamed Sanpaolo International Fund -
ObiettivoNord America, Sanpaolo International Fund - Obiettivo
Paesi Emergenti Europa, Medio Oriente ed Africa,Sanpaolo
International Fund - Obiettivo Paesi Emergenti Asia, Sanpaolo
International Fund - Small CapInternazionale, Sanpaolo
International Fund - Obiettivo Gran Bretagna, Sanpaolo
International Fund -Obiettivo Oceania, Sanpaolo International Fund
- Obiettivo America Latina, Sanpaolo International Fund -Obiettivo
Cina, Sanpaolo International Fund - Obiettivo Energia & Materie
Prime, Sanpaolo InternationalFund - Obiettivo Multimedia, Sanpaolo
International Fund - Obiettivo Farma, Sanpaolo International Fund
-Obiettivo Banche, Sanpaolo International Fund - Small Cap Europa,
Sanpaolo International Fund - SmallCap USA, Sanpaolo International
Fund - Obiettivo Bilanciato, Sanpaolo International Fund -
ObiettivoLiquidità Euro, Sanpaolo International Fund - Obiettivo
Euro Breve Termine, Sanpaolo International Fund -Obiettivo Euro
Medio Termine, Sanpaolo International Fund - Obiettivo
Obbligazionario Franchi Svizzeri,Sanpaolo International Fund -
Obiettivo Obbligazionario Sterline, Sanpaolo International Fund -
ObiettivoLiquidità Dollari, Sanpaolo International Fund -
Obbligazioni Convertibili, Sanpaolo International Fund
-Obbligazionario Paesi Emergenti, Sanpaolo International Fund -
Obbligazionario High Yield.
On 27 September 2002, the Sub-Fund Sanpaolo International Fund -
Equity Italy merged into the SanpaoloInternational Fund - Obiettivo
Italia Sub-Fund, the Sub-Funds Sanpaolo International Fund - Equity
Euro,Sanpaolo International Fund - Equity France and Sanpaolo
International Fund - Equity Germany mergedinto the Sanpaolo
International Fund - Obiettivo Euro Sub-Fund, the Sub-Funds
Sanpaolo InternationalFund - Equity Scandinavia and Sanpaolo
International Fund - Equity Switzerland merged into the
SanpaoloInternational Fund - Obiettivo Europa Sub-Fund, the
Sub-Funds Sanpaolo International Fund - Equity USAand Sanpaolo
International Fund - Equity Canada merged into the Sanpaolo
International Fund - ObiettivoNord America Sub-Fund, the Sub-Fund
Sanpaolo International Fund - Equity Japan merged into theSanpaolo
International Fund - Obiettivo Giappone Sub-Fund, the Sub-Funds
Sanpaolo International Fund -Equity Africa and Sanpaolo
International Fund - Equity Eastern Europe merged into the
SanpaoloInternational Fund - Obiettivo Paesi Emergenti Europa,
Medio Oriente ed Africa Sub-Fund, the Sub-FundsSanpaolo
International Fund - Equity India and Sanpaolo International Fund -
Obiettivo Paesi Emergentimerged into the Sanpaolo International
Fund - Obiettivo Paesi Emergenti Asia Sub-Fund, the
Sub-FundsSanpaolo International Fund - Equity High Growth and
Sanpaolo International Fund - Equity Pacific Smallmerged into the
Sanpaolo International Fund - Small Cap Internazionale
Sub-Fund.
The Sub-Funds Sanpaolo International Fund - Obiettivo Industria,
Sanpaolo International Fund - ObiettivoBeni Durevoli, Sanpaolo
International Fund - Obiettivo Beni di Consumo and Sanpaolo
International Fund -Obiettivo Assicurazioni were launched on 30
September 2002.
The Sub-Funds Sanpaolo International Fund - Orizzonte Protetto
6, Sanpaolo International Fund - OrizzonteProtetto 12, Sanpaolo
International Fund - Orizzonte Protetto 24 and Sanpaolo
International Fund - EuroInflation Linked were launched on 31 March
2003.
On 7 November 2003, the Sub-Funds Sanpaolo International Fund -
Obiettivo Liquidità Euro, SanpaoloInternational Fund - Euro
Inflation Linked and Sanpaolo International Fund - Autumn 36-100
wererespectively renamed Sanpaolo International Fund - Valore
Liquidità, Sanpaolo International Fund - ValoreReale and Sanpaolo
International Fund - Valore Equilibrio.
On 7 November 2003, the Sub-Funds Sanpaolo International Fund -
Small Cap USA and SanpaoloInternational Fund - Small Cap
Internazionale merged into the Sanpaolo International Fund - Small
CapEuropa Sub-Fund and the Sub-Fund Sanpaolo International Fund -
Winter 36-100 merged into the SanpaoloInternational Fund - Valore
Equilibrio Sub-Fund.
-
ORGANISATION OF THE FUND Eurizon EasyFund
The Sub-Funds Sanpaolo International Fund - ABS Prudente and
Sanpaolo International Fund - ABS Attivowere put into operation on
30 September 2005.
On 26 February 2008, the Sub-Funds Sanpaolo International Fund -
Obiettivo Italia, Sanpaolo InternationalFund - Obiettivo Euro,
Sanpaolo International Fund - Obiettivo Europa, Sanpaolo
International Fund -Obiettivo Gran Bretagna, Sanpaolo International
Fund - Obiettivo Nord America, Sanpaolo InternationalFund -
Obiettivo Giappone, Sanpaolo International Fund - Obiettivo
Oceania, Sanpaolo International Fund -Obiettivo Paesi Emergenti
Europa, Sanpaolo International Fund - Medio Oriente ed Africa,
SanpaoloInternational Fund - Obiettivo Paesi Emergenti Asia,
Sanpaolo International Fund - Obiettivo America Latina,Sanpaolo
International Fund - Obiettivo Cina, Sanpaolo International Fund -
Obiettivo Energia & MateriePrime, Sanpaolo International Fund -
Obiettivo Industria, Sanpaolo International Fund - Obiettivo
BeniDurevoli, Sanpaolo International Fund - Obiettivo Multimedia,
Sanpaolo International Fund - Obiettivo Benidi Consumo, Sanpaolo
International Fund - Obiettivo Farma, Sanpaolo International Fund -
ObiettivoBanche, Sanpaolo International Fund - Obiettivo
Assicurazioni, Sanpaolo International Fund - Obiettivo
AltaTecnologia, Sanpaolo International Fund - Obiettivo
Telecomunicazioni, Sanpaolo International Fund -Obiettivo
Utilities, Sanpaolo International Fund - Small Cap Europa, Sanpaolo
International Fund - ValoreLiquidità, Sanpaolo International Fund -
Obiettivo Euro Breve Termine, Sanpaolo International Fund
-Obiettivo Euro Medio Termine, Sanpaolo International Fund -
Obiettivo Euro Lungo Termine, SanpaoloInternational Fund -
Obiettivo Obbligazionario Franchi Svizzeri, Sanpaolo International
Fund - ObiettivoObbligazionario Sterline, Sanpaolo International
Fund - Obiettivo Liquidità Dollari, Sanpaolo InternationalFund -
Obiettivo Obbligazionario Dollari, Sanpaolo International Fund -
Obiettivo Obbligazionario Yen,Sanpaolo International Fund -
Obbligazioni Convertibili, Sanpaolo International Fund -
Obbligazionario PaesiEmergenti, Sanpaolo International Fund -
Obbligazionario High Yield, Sanpaolo International Fund -
ValoreReale were respectively renamed Sanpaolo International Fund -
Equity Italy, Sanpaolo International Fund -Equity Euro, Sanpaolo
International Fund - Equity Europe, Sanpaolo International Fund -
Equity GreatBritain, Sanpaolo International Fund - Equity North
America, Sanpaolo International Fund - Equity Japan,Sanpaolo
International Fund - Equity Oceania, Sanpaolo International Fund -
Equity Emerging MarketsEurope, Sanpaolo International Fund - Middle
East & Africa, Sanpaolo International Fund - Equity
EmergingMarkets Asia, Sanpaolo International Fund - Equity Latin
America, Sanpaolo International Fund - EquityChina, Sanpaolo
International Fund - Equity Energy & Materials, Sanpaolo
International Fund - EquityIndustrials, Sanpaolo International Fund
- Equity Durable Goods, Sanpaolo International Fund - EquityMedia,
Sanpaolo International Fund - Equity Consumer Staples, Sanpaolo
International Fund - EquityPharma, Sanpaolo International Fund -
Equity Banks, Sanpaolo International Fund - Equity
Insurance,Sanpaolo International Fund - Equity High Tech, Sanpaolo
International Fund - Equity Telecommunication,Sanpaolo
International Fund - Equity Utilities, Sanpaolo International Fund
- Equity Small Cap Europe,Sanpaolo International Fund - Cash EUR,
Sanpaolo International Fund - Bond EUR Short Term,
SanpaoloInternational Fund - Bond EUR Medium Term, Sanpaolo
International Fund - Bond EUR Long Term,Sanpaolo International Fund
- Bond CHF, Sanpaolo International Fund - Bond GBP, Sanpaolo
InternationalFund - Cash USD, Sanpaolo International Fund - Bond
USD, Sanpaolo International Fund - Bond JPY,Sanpaolo International
Fund - Bond Convertible, Sanpaolo International Fund - Bond
Emerging Markets,Sanpaolo International Fund - Bond High Yield,
Sanpaolo International Fund - Bond Inflation Linked.
On 7 July 2008, Eurizon Capital S.A. transfered the branch of
activity corresponding to its FundAdministration activities to
Sanpaolo Bank S.A. and has decided to delegate to the latter,
according to theManagement Company of the Fund, the functions of
administrative agent, registrar and transfer agent onbehalf of the
Fund from this date on.
On 27 February 2009, the Sub-Funds Eurizon EasyFund - Obiettivo
Bilanciato, Eurizon EasyFund - ValoreEquilibrio and Eurizon
EasyFund - Equity Great Britain merged into the Sub-Funds Eurizon
EasyFund - ABSAttivo, Eurizon EasyFund - ABS Prudente and Eurizon
EasyFund - Equity Europe respectively. Furthermore,a new investment
policy was adopted by the incorporating Sub-Fund Eurizon EasyFund -
ABS Prudente.
On the same date, the Sub-Funds Eurizon EasyFund - Bond
Convertible and Eurizon EasyFund - BondCHF were respectively
renamed Eurizon EasyFund - Bond Corporate EUR Short Term and
EurizonEasyFund - Bond International. Furthermore, a new investment
policy was adopted by the two renamedSub-Funds.
On 24 April 2009, the Sub-Funds Eurizon Capital Corporate Fund -
Premium 5 and Eurizon CapitalCorporate Fund - Premium 25 merged
into the Sub-Fund Eurizon EasyFund - Bond Corporate EUR
ShortTerm.
-
ORGANISATION OF THE FUND Eurizon EasyFund
On 27 November 2009, the Sub-Funds Eurizon EasyFund - Equity
Durable Goods and Eurizon EasyFund -Equity Banks were respectively
renamed Eurizon EasyFund - Equity Consumer Discretionary and
EurizonEasyFund - Equity Financial.On the same date, the Sub-Funds
Eurizon EasyFund - Equity Media and Eurizon EasyFund -
EquityInsurance merged into the Eurizon EasyFund - Equity Consumer
Discretionary and Eurizon EasyFund -Equity Financial Sub-Funds
respectively.
The Sub-Funds Eurizon EasyFund - Equity Emerging Markets and
Eurizon EasyFund - Bond EUR FloatingRate were launched on 11
December 2009.
On 11 December 2009, the Sub-Fund Giotto Lux Fund - Monetario
Plus merged into the Eurizon EasyFund -Cash EUR Sub-Fund, the
Sub-Fund Giotto Lux Fund - Euro Medium Term merged into the
EurizonEasyFund - Bond EUR Medium Term Sub-Fund, the Sub-Fund
Giotto Lux Fund - Euro Long Term mergedinto the Eurizon EasyFund -
Bond EUR Long Term Sub-Fund, the Sub-Fund Giotto Lux Fund - Euro
TVmerged into the Eurizon EasyFund - Bond EUR Floating Rate
Sub-Fund, the Sub-Fund Giotto Lux Fund -Global Credit Bond merged
into the Eurizon EasyFund - Bond Corporate EUR Short Term Sub-Fund,
theSub-Fund Giotto Lux Fund - Global Government Bond merged into
the Eurizon EasyFund - BondInternational Sub-Fund, the Sub-Fund
Giotto Lux Fund - Equity Italy merged into the Eurizon EasyFund
-Equity Italy Sub-Fund, the Sub-Fund Giotto Lux Fund - Equity Euro
merged into the Eurizon EasyFund -Equity Euro Sub-Fund, the
Sub-Fund Giotto Lux Fund - Equity Europe ex Euro merged into the
EurizonEasyFund - Equity Europe Sub-Fund, the Sub-Fund Giotto Lux
Fund - Equity Europe Small Cap merged intothe Eurizon EasyFund -
Equity Small Cap Europe Sub-Fund, the Sub-Fund Giotto Lux Fund -
Equity NorthAmerica merged into the Eurizon EasyFund - Equity North
America Sub-Fund, the Sub-Fund Giotto LuxFund - Equity Japan merged
into the Eurizon EasyFund - Equity Japan Sub-Fund, the Sub-Fund
Giotto LuxFund - Equity Pacific merged into the Eurizon EasyFund -
Equity Oceania Sub-Fund, the Sub-Fund GiottoLux Fund - Equity
Emerging Markets merged into the Eurizon EasyFund - Equity Emerging
Markets Sub-Fund, the Sub-Fund Giotto Lux Fund - Absolute Bond
merged into the Eurizon EasyFund - ABS PrudenteSub-Fund.
The Sub-Fund Eurizon EasyFund - Focus Azioni Strategia
Flessibile was launched on 20 May 2010.
The Sub-Funds Eurizon EasyFund - GT Asset Allocation and Eurizon
EasyFund - Trend were launched on19 January 2012.
A rebranding of the below listed Sub-Funds occurred on 1
February 2012:
Previous name Current nameEurizon EasyFund - Equity Italy
Eurizon EasyFund - Equity Italy LTEEurizon EasyFund - Equity Euro
Eurizon EasyFund - Equity Euro LTEEurizon EasyFund - Equity Europe
Eurizon EasyFund - Equity Europe LTEEurizon EasyFund - Equity North
America Eurizon EasyFund - Equity North America LTEEurizon EasyFund
- Equity Japan Eurizon EasyFund - Equity Japan LTEEurizon EasyFund
- Equity Oceania Eurizon EasyFund - Equity Oceania LTEEurizon
EasyFund - Equity Emerging Markets Eurizon EasyFund - Equity
Emerging Markets LTEEurizon EasyFund - Equity Emerging
MarketsEurope Middle East & Africa
Eurizon EasyFund - Equity Emerging Markets EMEALTE
Eurizon EasyFund - Equity Emerging MarketsAsia
Eurizon EasyFund - Equity Emerging Markets Asia LTE
Eurizon EasyFund - Equity Latin America Eurizon EasyFund -
Equity Latin America LTEEurizon EasyFund - Equity China Eurizon
EasyFund - Equity China LTEEurizon EasyFund - Equity Energy &
Materials Eurizon EasyFund - Equity Energy & Materials
LTEEurizon EasyFund - Equity Industrials Eurizon EasyFund - Equity
Industrials LTEEurizon EasyFund - Equity ConsumerDiscretionary
Eurizon EasyFund - Equity Consumer DiscretionaryLTE
Eurizon EasyFund - Equity Consumer Staples Eurizon EasyFund -
Equity Consumer Staples LTEEurizon EasyFund - Equity Pharma Eurizon
EasyFund - Equity Pharma LTE
-
ORGANISATION OF THE FUND Eurizon EasyFund
Previous name Current nameEurizon EasyFund - Equity Financial
Eurizon EasyFund - Equity Financial LTEEurizon EasyFund - Equity
High Tech Eurizon EasyFund - Equity High Tech LTEEurizon EasyFund -
Equity Telecommunication Eurizon EasyFund - Equity
Telecommunication LTEEurizon EasyFund - Equity Utilities Eurizon
EasyFund - Equity Utilities LTEEurizon EasyFund - Bond EUR Floating
Rate Eurizon EasyFund - Bond EUR Floating Rate LTEEurizon EasyFund
- Bond EUR Short Term Eurizon EasyFund - Bond EUR Short Term
LTEEurizon EasyFund - Bond EUR Medium Term Eurizon EasyFund - Bond
EUR Medium Term LTEEurizon EasyFund - Bond EUR Long Term Eurizon
EasyFund - Bond EUR Long Term LTEEurizon EasyFund - Bond
International Eurizon EasyFund - Bond International LTEEurizon
EasyFund - Bond GBP Eurizon EasyFund - Bond GBP LTEEurizon EasyFund
- Cash USD Eurizon EasyFund - Treasury USDEurizon EasyFund - Bond
USD Eurizon EasyFund - Bond USD LTEEurizon EasyFund - Bond JPY
Eurizon EasyFund - Bond JPY LTEEurizon EasyFund - Focus Azioni
StrategiaFlessibile
Eurizon EasyFund - Azioni Strategia Flessibile
Eurizon EasyFund - ABS Prudente Eurizon EasyFund - Absolute
PrudenteEurizon EasyFund - ABS Attivo Eurizon EasyFund - Absolute
Attivo
On 10 February 2012, the Sub-Fund Eurizon Liquidity Fund - EUR
T0 merged into the Eurizon EasyFund -EUR Liquidity Sub-Fund
launched on this date, and the Sub-Fund Eurizon Capital Corporate
Fund -Corporate Bond merged into the Eurizon EasyFund - Bond
Corporate EUR Sub-Fund launched on this date.
On 7 March 2012, the Sub-Fund Eurizon EasyFund - Bond Emerging
Markets in Local Currencies waslaunched.
On 23 April 2012, the Sub-Fund Eurizon EasyFund - Equity
Emerging Markets New Frontiers LTE waslaunched.
On 29 June 2012, the Sub-Fund Eurizon Stars Fund - Euro Floating
merged into the Eurizon EasyFund -Bond EUR Floating Rate LTE
Sub-Fund, the Sub-Fund Eurizon Stars Fund - Bond European High
Yieldmerged into the Eurizon EasyFund - Bond High Yield Sub-Fund,
the Sub-Fund Eurizon Stars Fund -European Small Cap Equity merged
into the Eurizon EasyFund - Equity Small Cap Europe Sub-Fund,
theSub-Fund Eurizon Stars Fund - Total Return merged into the
Eurizon EasyFund - Absolute Attivo Sub-Fund,Eurizon Stars Fund -
Italian Equity Sub-Fund merged into Eurizon EasyFund - Equity Italy
Sub-Fundlaunched on this date and Eurizon Stars Fund - European
Equity Sub-Fund merged into Eurizon EasyFund -Equity Europe
Sub-Fund launched on this date.
The Sub-Fund Eurizon EasyFund - Equity Eastern Europe was
launched on 24 July 2012.
The Sub-Fund Eurizon EasyFund - EUR Liquidity was liquidated on
23 April 2014.
The Sub-Fund Eurizon EasyFund - Flexible Beta Total Return was
launched on 19 September 2014 due toa merger from Eurizon
Investment Sicav - Flexible Beta Total Return on the same date.
The Sub-Fund Eurizon EasyFund - Dynamic Asset Allocation was
launched on 19 September 2014 due to amerger from Eurizon
Investment Sicav - Dynamic Asset Allocation on the same date.
The Sub-Fund Eurizon EasyFund - Bond Flexible was launched on 28
July 2014 and first NAV wascalculated on 3 October 2014.
The Sub-Fund Eurizon EasyFund - Equity Absolute Return was
launched on 28 July 2014 and first NAV wascalculated on 6 October
2014.
-
ORGANISATION OF THE FUND Eurizon EasyFund
The Sub-Fund Eurizon EasyFund - Multiasset was launched on 28
July 2014 and first NAV was calculatedon 6 October 2014.
On 16 January 2015, the Sub-Funds Eurizon Investment SICAV -
Scudo and Eurizon Investment SICAV -Strategic Europe merged into
the Sub-fund Eurizon EasyFund - Absolute Prudente, the Sub-Fund
EurizonInvestment SICAV - Europe Equities merged into the Sub-fund
Eurizon EasyFund - Equity Europe LTE andthe Sub-Funds Eurizon
Investment SICAV - EMU Cash, Eurizon Multiasset Fund - Euro Cash
and EurizonInvestment SICAV - Euro Short Term merged into the
Sub-fund Eurizon EasyFund - Cash EUR.
The Sub-Fund Eurizon EasyFund - Treasury EUR T1 was launched on
24 March 2015.
As at 10 July 2015, the Sub-Funds Eurizon EasyFund - Orizzonte
Protetto 6, Eurizon EasyFund - OrizzonteProtetto 12, and Eurizon
EasyFund - Orizzonte Protetto 24 merged into the Sub-Fund Eurizon
OpportunitàFlessibile 15.
The different Units which are available to investors for all
Sub-Funds are detailed in note 11 “Units of theFund” of the notes
to the financial statements.
GENERAL MEETINGSThe Annual General Meeting of the Management
Company is held in Luxembourg, at the registered office,on the last
Tuesday in March at 15.00 hours and if such day is not a business
day in the Grand Duchy ofLuxembourg, the next business day.
INFORMATION FOR FUND UNITHOLDERSCopies of audited annual reports
as at 31 December and copies of the unaudited semi-annual reports
as at30 June are available free of charge to Unitholders at the
Depositary Bank, other establishments specifiedby the latter, and
at the registered office of the Management Company.
The periodic reports contain all information relative to the
Fund, to the composition and development of itsassets.
The financial year begins on 1 January and ends on 31
December.
The Net Asset Value is published every day in the daily
newspaper “Il Sole 24 Ore” in Italy.
The Net Asset Value as well as the subscription and redemption
prices of the Fund Units can also beobtained from the Depositary
Bank.
Other information intended for participants is published in the
“Mémorial, Recueil Spécial des Sociétés etAssociations” and in the
“Registre de Commerce et des Sociétés” in Luxembourg, if this
publication isspecified by the Management Regulations or by
law.
GLOBAL EXPOSURE AND EXPECTED LEVEL OF LEVERAGE
The method used to calculate the global exposure is the
commitment approach for all the Sub-Funds exceptfor Eurizon
EasyFund - GT Asset Allocation, Eurizon EasyFund - Trend and for
Eurizon EasyFund - FlexibleBeta Total Return which are using the
method of the absolute historical Value at Risk ("VaR").
Historical VaR (1m, 99%)
02/01/2015 - 31/12/2015
LeverageSum of Notionals
02/01/2015 - 31/12/2015
Sub-Funds Min Max Average Average
Eurizon EasyFund - GT Asset Allocation 0,73% 2,53% 1,50%
68,65%Eurizon EasyFund - Trend 1,61% 4,75% 3,11% 315,90%Eurizon
EasyFund - Flexible Beta TotalReturn 3,64% 9,73% 5,52% 74,37%
-
To the Unitholders of Eurizon EasyFund8, Avenue de la
Liberté
L-1930 Luxembourg
REPORT OF THE REVISEUR D’ENTREPRISES AGREE
We have audited the accompanying financial statements of Eurizon
EasyFund and each of itssub-funds, which comprise the statement of
net assets, the portfolio, the commitments on futurecontracts, the
option contracts, the forward foreign exchange contracts and the
swap contracts asat 31 December 2015 and the statement of changes
in net assets for the year then ended, and asummary of significant
accounting policies and other explanatory information.
Board of Directors of the Management Company responsibility for
the financial statements
The Board of Directors of the Management Company is responsible
for the preparation and fairpresentation of these financial
statements in accordance with Luxembourg legal and
regulatoryrequirements relating to the preparation of the financial
statements, and for such internal controlas the Board of Directors
of the Management Company determines is necessary to enable
thepreparation of financial statements that are free from material
misstatement, whether due tofraud or error.
Responsibility of the Réviseur d’Entreprises agréé
Our responsibility is to express an opinion on these financial
statements based on our audit. Weconducted our audit in accordance
with International Standards on Auditing as adopted forLuxembourg
by the Commission de Surveillance du Secteur Financier. Those
standards requirethat we comply with ethical requirements and plan
and perform the audit to obtain reasonableassurance about whether
the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence
about the amounts anddisclosures in the financial statements. The
procedures selected depend on the judgement of theRéviseur
d’Entreprises agréé, including the assessment of the risks of
material misstatement ofthe financial statements, whether due to
fraud or error. In making those risk assessments, theRéviseur
d’Entreprises agréé considers internal control relevant to the
entity’s preparation andfair presentation of the financial
statements in order to design audit procedures that areappropriate
in the circumstances, but not for the purpose of expressing an
opinion on theeffectiveness of the entity’s internal control.
An audit also includes evaluating the appropriateness of
accounting policies used and thereasonableness of accounting
estimates made by the Board of Directors of the ManagementCompany,
as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is
sufficient and appropriate to provide abasis for our audit
opinion.
-
Eurizon EasyFund
COMPARATIVE NET ASSET VALUES OVER THE LAST THREE YEARS
31 December 2015 31 December 2014 31 December 2013
Currency Total NAV per Unit Total NAV per Unit Total NAV per
UnitEurizon EasyFund - EUR LiquidityClass P Units EUR – – – – 172
849 592,76 100,92Total net assets EUR – – 172 849 592,76Eurizon
EasyFund - Cash EURClass A Units EUR 24 908 177,24 116,33 8 760
061,50 116,46 11 180 108,69 116,06Class I Units EUR 144 314 456,46
113,46 139 206 965,35 113,87 161 400 725,35 114,05Class R Units EUR
222 885 933,56 113,17 152 681 319,47 113,62 218 946 208,80
113,86Class Z Units EUR 3 164 328 661,19 119,50 2 894 162 978,41
119,49 2 968 301 108,07 118,84Total net assets EUR 3 556 437 228,45
3 194 811 324,73 3 359 828 150,91Eurizon EasyFund - Treasury
USDClass I Units EUR 4 629 538,70 115,51 5 729 179,26 104,53 3 798
215,90 92,48Class R Units EUR 60 049 754,30 115,14 79 327 203,00
104,24 67 595 092,28 92,27Class Z Units EUR 113 230 220,47 122,11
185 743 741,99 109,72 177 378 837,17 96,39Total net assets EUR 177
909 513,47 270 800 124,25 248 772 145,35Eurizon EasyFund - Bond EUR
Short Term LTEClass I Units EUR 87 760 107,02 145,00 105 610 100,80
145,17 109 411 928,79 143,08Class R Units EUR 24 666 006,04 143,65
28 484 925,71 143,95 36 130 648,33 142,00Class Z Units EUR 843 455
990,52 155,18 777 300 809,75 154,02 871 342 160,88 150,51Total net
assets EUR 955 882 103,58 911 395 836,26 1 016 884 738,00Eurizon
EasyFund - Bond EUR Medium Term LTEClass I Units EUR 51 142 166,75
344,12 53 492 899,88 343,13 51 585 822,83 326,21Class R Units EUR
24 672 254,69 340,47 35 574 053,05 339,78 45 259 119,35 323,32Class
Z Units EUR 1 082 481 709,78 370,75 973 419 145,24 366,22 910 414
395,43 344,91Total net assets EUR 1 158 296 131,22 1 062 486 098,17
1 007 259 337,61Eurizon EasyFund - Bond EUR Long Term LTEClass I
Units EUR 141 036 235,46 230,32 154 176 498,73 228,14 142 935
045,15 189,96Class R Units EUR 38 221 392,20 228,14 47 769 707,26
226,18 38 858 831,86 188,51Class Z Units EUR 3 681 555 603,67
247,29 3 209 814 056,20 242,79 2 545 665 012,85 200,40Total net
assets EUR 3 860 813 231,33 3 411 760 262,19 2 727 458
889,86Eurizon EasyFund - Bond EUR Floating Rate LTEClass R Units
EUR 35 393 021,25 131,38 53 814 629,71 130,37 80 233 819,19
127,55Class Z Units EUR 151 861 260,29 137,65 155 361 493,06 135,52
130 887 589,85 131,53Total net assets EUR 187 254 281,54 209 176
122,77 211 121 409,04Eurizon EasyFund - Bond GBP LTEClass I Units
EUR 1 488 740,30 174,03 1 578 653,28 165,90 1 599 420,27
137,63Class IH Units EUR 763 966,58 170,89 830 280,23 172,83 802
860,07 154,39Class R Units EUR 11 001 970,48 172,46 13 316 363,77
164,55 14 130 979,27 136,64Class RH Units EUR 1 600 830,88 168,61 1
667 095,93 170,69 1 522 380,18 152,61Class Z Units EUR 5 223 642,99
189,25 4 503 504,05 178,52 3 154 766,10 146,56Class ZD Units EUR
1,067,558,39 115,40 1 172 250,58 117,23 – –Class ZH Units EUR 74
826 445,69 185,64 72 666 500,00 185,80 43 439 967,17 164,24Total
net assets EUR 95 973 155,31 95 734 647,84 64 650 373,06Eurizon
EasyFund - Bond JPY LTEClass I Units EUR 2 028 070,65 108,19 2 126
385,77 96,64 2 483 196,18 94,19Class IH Units EUR 1 912 154,30
194,17 2 100 537,67 194,61 2 609 727,07 188,08Class R Units EUR 4
736 369,22 107,30 4 758 326,97 95,94 6 148 059,88 93,59Class RH
Units EUR 252 957,48 157,74 503 709,58 158,24 1 381 844,86
153,07Class Z Units EUR 78 614 398,17 117,53 31 973 399,00 103,90
23 426 707,85 100,20Class ZH Units EUR 239 342 034,88 211,07 237
364 154,92 209,34 219 476 039,12 200,20Total net assets EUR 326 885
984,70 278 826 513,91 255 525 574,96Eurizon EasyFund - Bond USD
LTEClass I Units EUR 6 214 344,91 181,02 5 968 151,09 163,21 5 650
054,86 137,06Class IH Units EUR 3 908 009,45 210,02 4 032 798,78
211,97 3 937 069,39 203,07Class R Units EUR 26 061 660,90 179,27 22
867 885,31 161,78 19 654 577,67 135,99Class RH Units EUR 3 091
993,09 208,20 5 201 504,63 210,31 7 345 130,13 201,66Class Z Units
EUR 165 386 137,64 196,88 120 819 915,93 175,66 74 869 327,16
145,97Class ZD Units EUR 1 205 147,39 128,88 1 661 370,13 118,67 –
–Class ZH Units EUR 444 513 886,89 228,42 313 551 662,94 228,14 226
144 264,95 216,28Total net assets EUR 650 381 180,27 474 103 288,81
337 600 424,16Eurizon EasyFund - Bond International LTEClass IH
Units EUR 7 721 467,24 159,51 8 147 418,89 159,39 7 172 117,48
147,76Class R Units EUR 21 719 323,46 154,53 26 072 956,81 144,49
25 756 279,69 127,45Class RH Units EUR 2 210 869,87 156,75 2 267
915,78 156,77 3 249 623,96 145,46Class Z Units EUR 183 558 373,25
164,18 163 909 350,86 152,23 133 233 295,19 133,15Class ZH Units
EUR 13 389 622,85 166,50 15 276 462,66 165,13 13 854,25 151,95Total
net assets EUR 228 599 656,67 215 674 105,00 169 425 170,57Eurizon
EasyFund - Equity Italy LTEClass I Units EUR 947 561,74 85,76 867
147,15 72,85 2 213 409,38 72,98Class R Units EUR 16 910 520,83
84,94 16 375 622,08 72,22 17 982 584,50 72,41Class R2 Units USD 4
390 901,93 92,54 6 551 055,32 87,60 982 405,61 99,98
-
Eurizon EasyFund
COMPARATIVE NET ASSET VALUES OVER THE LAST THREE YEARS
Class Z Units EUR 41 280 387,67 96,13 26 148 198,78 80,48 26 762
784,59 79,46Total net assets EUR 63 180 541,36 48 804 838,74 47 671
725,94Eurizon EasyFund - Equity Euro LTEClass I Units EUR 23 604
532,63 105,41 11 066 324,38 98,69 11 284 031,66 96,12Class R Units
EUR 39 970 763,49 104,47 43 499 240,19 97,90 54 918 298,78
95,44Class Z Units EUR 98 610 052,34 117,90 79 161 523,19 108,85 70
554 110,31 104,55Total net assets EUR 162 185 348,46 133 727 087,76
136 756 440,75Eurizon EasyFund - Equity Europe LTEClass I Units EUR
43 621 455,35 117,85 221 438 258,30 111,41 209 110 548,22
105,91Class IH Units EUR 93 930 126,81 112,15 97 382 140,99 109,69
103 831 126,63 106,68Class R Units EUR 79 987 156,19 117,16 46 768
464,32 110,86 49 133 909,51 105,48Class RH Units EUR 22 305 971,41
109,12 18 880 909,75 106,82 4 006 824,54 103,99Class Z Units EUR
405 208 997,78 131,96 235 268 972,37 123,02 424 452 880,75
115,32Class ZH Units EUR 29 434 859,06 125,34 31 219 560,56 120,88
50 211 504,15 115,93Total net assets EUR 674 488 566,60 650 958
306,29 840 746 793,80Eurizon EasyFund - Equity North America
LTEClass I Units EUR 187 322 209,58 116,41 181 534 638,68 108,45
169 136 665,52 87,32Class IH Units EUR 149 043 289,67 136,67 115
595 940,00 140,72 106 267 120,54 128,50Class R Units EUR 58 046
095,98 115,30 71 301 681,21 107,51 69 842 982,60 86,63Class RH
Units EUR 10 652 907,52 135,52 14 919 990,73 139,66 17 200 568,64
127,65Class Z Units EUR 644 709 923,65 130,14 564 093 791,12 119,55
481 985 606,72 94,91Class ZH Units EUR 103 014 942,67 152,40 85 043
666,94 154,74 76 157 851,25 139,34Total net assets EUR 1 152 789
369,07 1 032 489 708,68 920 590 795,27Eurizon EasyFund - Equity
Japan LTEClass I Units EUR 51 886 574,41 80,87 45 258 907,04 67,99
45 345 666,51 64,84Class IH Units EUR 30 775 933,50 103,99 29 737
057,16 97,75 38 058 158,01 93,67Class R Units EUR 29 736 734,36
80,26 28 540 071,76 67,53 33 718 062,45 64,47Class R2 Units USD 757
649,57 86,96 823 615,21 81,43 138 210,04 88,21Class RH Units EUR 12
995 565,79 102,78 17 742 168,21 96,70 23 735 831,77 92,74Class Z
Units EUR 127 845 520,27 89,95 98 130 432,29 74,64 175 751 707,32
70,27Class ZH Units EUR 153 995 108,47 115,63 86 211 327,49 107,28
101 532 379,76 101,47Total net assets EUR 407 932 895,66 306 304
570,21 418 242 995,61Eurizon EasyFund - Equity Oceania LTEClass I
Units EUR 1 899 519,44 223,82 2 665 163,23 230,73 2 899 836,26
208,89Class IH Units EUR 17 279 505,67 166,20 16 758 571,73 178,17
15 819 734,17 174,78Class R Units EUR 22 126 554,05 219,93 29 122
742,32 226,93 34 132 792,63 205,63Class RH Units EUR 4 649 884,62
161,81 6 175 996,57 173,63 7 498 177,36 170,47Class Z Units EUR 88
866 649,72 250,18 80 439 943,83 254,58 47 067 274,28 227,51Class ZH
Units EUR 3 055 892,93 185,64 2 219 245,13 196,45 2 640 426,66
190,21Total net assets EUR 137 878 006,43 137 381 662,81 110 058
241,36Eurizon EasyFund - Equity Latin America LTEClass I Units EUR
118 183,11 217,82 165 911,76 289,35 219 140,45 295,81Class R Units
EUR 28 073 224,54 214,94 44 788 116,11 285,76 57 532 497,83
292,40Class R2 Units USD 645 540,45 234,16 1 298 260,83 346,60 1
094 945,93 403,68Class Z Units EUR 1 166 722,03 242,43 6 132 936,38
317,86 11 671 341,21 320,76Total net assets EUR 29 952 385,81 52
159 862,58 70 217 599,27Eurizon EasyFund - Equity China LTEClass R
Units EUR 59 992 493,71 103,29 103 885 166,99 108,49 116 489 240,71
87,62Class R2 Units USD 5 513 680,82 111,93 9 187 877,75 130,84 657
233,44 119,92Class Z Units EUR 1 101 327,20 112,67 4 746 249,07
116,70 10 294 490,50 92,95Total net assets EUR 66 169 472,87 116
268 564,62 127 264 921,39Eurizon EasyFund - Equity Emerging Markets
LTEClass R Units EUR 16 748 478,42 181,34 25 330 466,79 200,48 32
034 120,10 182,00Class Z Units EUR 106 548 084,05 196,47 77 138
808,39 214,42 68 962 711,37 192,17Total net assets EUR 123 296
562,47 102 469 275,18 100 996 831,47Eurizon EasyFund - Equity
Emerging Markets EMEA LTEClass I Units EUR 130 651,01 124,34 154
113,02 141,88 188 306,64 151,67Class R Units EUR 21 550 772,90
123,32 31 577 651,12 140,83 41 950 684,22 150,68Class R2 Units USD
2 633 200,57 134,36 3 388 024,88 170,84 4 998 400,68 208,03Class Z
Units EUR 5 115 843,51 138,36 10 720 378,38 155,83 21 667 774,22
164,42Total net assets EUR 29 221 276,00 45 252 037,80 67 434
184,43Eurizon EasyFund - Equity Emerging Markets Asia LTEClass I
Units EUR 429 946,87 167,18 452 073,61 177,89 472 259,24
148,68Class R Units EUR 58 019 951,80 165,91 75 937 655,42 176,71
79 332 070,15 147,82Class R2 Units USD 169 226,29 179,78 1 113
038,89 213,13 53 930,67 202,33Class Z Units EUR 39 877 900,71
186,07 40 443 131,99 195,45 40 309 327,48 161,24Total net assets
EUR 98 483 581,66 117 758 042,32 120 153 141,94Eurizon EasyFund -
Equity Emerging Markets New Frontiers LTEClass R Units EUR 5 059
601,17 106,73 5 914 638,34 116,19 1 536 890,98 105,00Class Z Units
EUR 79 793 351,09 126,03 113 955 578,55 135,32 71 569 271,77
120,59Total net assets EUR 84 852 952,26 119 870 216,89 73 106
162,75Eurizon EasyFund - Equity Energy & Materials LTEClass I
Units EUR 4 309 536,70 128,87 5 290 958,02 147,06 5 959 618,77
145,35Class IH Units EUR – – 10 576 797,38 135,10 12 542 036,33
145,90Class R Units EUR 12 307 730,75 127,56 12 778 584,24 145,71
17 017 321,22 144,14
-
Eurizon EasyFund
COMPARATIVE NET ASSET VALUES OVER THE LAST THREE YEARS
Class R2 Units USD 1 461 669,57 139,94 218 324,82 177,95 235
865,12 200,36Class RH Units EUR 9 461 084,83 108,84 10 390 025,21
132,99 13 640 655,43 143,75Class Z Units EUR 1 024 003,82 144,02
650 232,94 162,07 1 395 791,40 157,94Class ZH Units EUR 15 315
164,95 123,63 7 994 312,75 148,83 2 167 704,33 158,49Total net
assets EUR 43 763 069,74 47 861 336,81 52 894 298,57Eurizon
EasyFund - Equity Industrials LTEClass I Units EUR 4 240 757,29
225,75 4 648 501,76 210,66 4 730 476,95 188,50Class IH Units EUR –
– 8 772 780,13 210,08 9 398 134,16 203,37Class R Units EUR 5 526
643,10 223,75 3 578 820,51 208,98 2 937 363,42 187,17Class RH Units
EUR 1 463 169,06 205,68 1 425 782,10 207,50 2 648 406,74
201,03Class Z Units EUR 4 979 379,38 252,12 4 144 786,48 231,99 5
393 493,61 204,70Class ZH Units EUR 14 013,82 231,29 27 239,64
229,92 11 200 675,18 219,52Total net assets EUR 16 223 962,65 22
597 910,62 36 308 550,06Eurizon EasyFund - Equity Consumer
Discretionary LTEClass I Units EUR 5 140 097,19 282,62 5 136 190,26
245,26 5 578 612,51 211,64Class IH Units EUR – – 7 995 482,78
235,54 7 581 123,84 221,70Class R Units EUR 13 297 447,93 280,13 5
900 030,58 243,33 4 965 376,47 210,16Class RH Units EUR 3 693
133,81 245,05 3 529 847,77 231,58 6 621 971,97 218,16Class Z Units
EUR 3 369 465,35 315,67 2 889 942,07 270,13 8 630 425,26
229,87Class ZH Units EUR 4 292 333,19 278,51 25 484,46 259,33 19
673 005,57 240,66Total net assets EUR 29 792 477,47 25 476 977,92
53 050 515,62Eurizon EasyFund - Equity Consumer Staples LTEClass I
Units EUR 4 001 429,55 251,10 4 070 534,35 216,00 3 974 046,20
180,69Class IH Units EUR – – 7 491 098,50 216,57 6 155 730,54
197,43Class R Units EUR 11 889 041,58 248,85 8 063 205,92 214,26 6
108 090,82 179,40Class RH Units EUR 3 473 059,04 229,03 2 574
767,66 213,37 3 588 397,45 194,69Class Z Units EUR 1 241 873,97
280,72 4 788 858,30 238,12 171 662,08 196,42Class ZH Units EUR 9
928,01 259,71 6 012 793,63 238,31 45 156,30 214,23Total net assets
EUR 20 615 332,15 33 001 258,36 20 043 083,39Eurizon EasyFund -
Equity Pharma LTEClass I Units EUR 5 219 311,07 160,13 5 351 615,97
137,87 4 588 165,13 104,74Class IH Units EUR – – 11 967 111,32
141,48 10 432 268,61 117,91Class R Units EUR 35 707 508,53 158,68
23 769 069,47 136,76 12 435 646,44 103,99Class RH Units EUR 15 501
062,89 147,73 14 047 643,13 139,04 10 014 027,93 115,97Class Z
Units EUR 4 317 949,44 178,84 2 082 647,28 151,85 4 181 345,29
113,76Class ZH Units EUR 33 560,84 166,93 1 145 314,86 154,79 43
662,56 127,20Total net assets EUR 60 779 392,77 58 363 402,03 41
695 115,96Eurizon EasyFund - Equity Financial LTEClass I Units EUR
8 100 956,39 71,73 8 579 533,04 67,95 8 466 948,63 58,90Class IH
Units EUR – – 17 565 606,70 64,55 16 157 978,42 60,58Class R Units
EUR 5 627 744,54 71,00 5 348 904,30 67,32 5 313 074,36 58,41Class
R2 Units USD 230 024,67 77,42 145 156,04 81,74 118 635,68
80,71Class RH Units EUR 2 256 563,22 62,78 2 463 918,98 63,47 2 839
497,69 59,62Class Z Units EUR 17 404 489,14 80,23 31 843 287,67
74,95 43 080 216,47 64,06Class ZH Units EUR 27 054,43 70,98 32
553,40 70,71 80 427,77 65,47Total net assets EUR 33 628 558,31 65
953 762,80 76 024 239,17Eurizon EasyFund - Equity High Tech
LTEClass I Units EUR 5 372 655,64 106,22 5 472 358,84 92,62 4 770
402,78 72,27Class IH Units EUR – – 11 206 088,44 92,51 11 292
392,47 80,69Class R Units EUR 11 653 305,19 105,26 7 330 748,09
91,87 4 123 741,48 71,76Class RH Units EUR 2 582 937,30 94,52 3 111
651,43 90,77 2 399 727,91 79,24Class Z Units EUR 1 065 491,99
118,69 295 543,52 102,05 1 901 751,58 78,53Class ZH Units EUR 18
144,79 106,95 1 365 605,09 101,19 16 439 557,65 87,03Total net
assets EUR 20 692 534,91 28 781 995,41 40 927 573,87Eurizon
EasyFund - Equity Telecommunication LTEClass I Units EUR 1 296
519,13 83,03 1 357 120,20 74,89 1 493 843,14 68,25Class IH Units
EUR – – 2 786 989,53 76,34 2 747 568,37 73,29Class R Units EUR 2
410 190,30 82,24 2 148 156,44 74,24 2 330 755,15 67,71Class RH
Units EUR 745 311,81 78,73 922 809,11 75,03 2 016 228,92 72,09Class
Z Units EUR 63 665,95 92,76 154 100,63 82,50 81 198,74 74,14Class
ZH Units EUR 3 141,60 88,91 3 843,43 83,47 237 860,42 79,02Total
net assets EUR 4 518 828,79 7 373 019,34 8 907 454,74Eurizon
EasyFund - Equity Utilities LTEClass I Units EUR 1 207 566,61
133,33 1 367 632,89 130,23 1 236 061,89 101,31Class IH Units EUR –
– 2 463 019,36 130,46 2 192 999,65 110,48Class R Units EUR 4 098
552,13 132,18 4 349 881,34 129,21 3 557 023,57 100,61Class R2 Units
USD 150 702,76 144,06 228 295,95 156,79 158 443,73 138,92Class RH
Units EUR 2 592 773,55 121,78 3 706 498,33 128,37 3 612 761,76
108,81Class Z Units EUR 94 574,07 148,97 1 504 689,15 143,50 123
351,19 110,08Class ZH Units EUR 4 299,65 137,72 3 361,61 142,90 8
316,08 119,43Total net assets EUR 8 136 496,34 13 583 749,19 10 845
499,29
Eurizon EasyFund - Treasury EUR T1Class A Units EUR 522 854
566,46 99,93 – – – –Class Z Units EUR 2 286 656 685,48 100,13 – – –
–Total net assets EUR 2 809 511 251,94 – –
-
Eurizon EasyFund
COMPARATIVE NET ASSET VALUES OVER THE LAST THREE YEARS
Eurizon EasyFund - Bond Inflation LinkedClass I Units EUR 4 555
971,37 134,59 4 495 970,40 134,06 4 548 666,90 128,91Class R Units
EUR 42 285 591,31 133,68 46 019 537,34 133,27 61 312 920,06
128,27Class Z Units EUR 108 008 179,40 143,14 69 017 419,40 141,51
6 924 260,28 135,06Total net assets EUR 154 849 742,08 119 532
927,14 72 785 847,24Eurizon EasyFund - Bond Corporate EUR Short
TermClass R Units EUR 61 004 278,35 68,21 66 307 448,28 68,63 65
789 895,86 67,37Class Z Units EUR 1 000 571 386,44 74,04 946 076
487,03 73,91 501 479 630,96 71,98Class ZD Units EUR 42 175 007,93
100,44 2 022 153,88 101,37 – –Total net assets EUR 1 103 750 672,72
1 014 406 089,19 567 269 526,82Eurizon EasyFund - Bond Corporate
EURClass R Units EUR 9 717,09 97,17 – – – –Class Z Units EUR 916
417 702,54 123,34 806 060 211,32 123,50 482 235 871,09 114,47Total
net assets EUR 916 427 419,63 806 060 211,32 482 235 871,09Eurizon
EasyFund - Bond High YieldClass D Units EUR 28 184 411,16 152,51 26
216 640,97 156,02 468 759,53 153,54Class D2 Units USD 1 774 524,36
166,23 3 002 138,97 189,40 1 730 959,69 211,46Class Du2 Units USD
342 874,09 98,35 – – – –Class I Units EUR 6 920 352,37 205,46 6 885
302,44 201,12 7 653 336,24 189,69Class R Units EUR 174 941 169,01
203,75 171 065 050,88 199,63 194 936 763,14 188,42Class R2 Units
USD 12 508 864,92 222,90 1 545 679,14 243,17 495 635,10 260,21Class
Ru2 Units USD 246 593,79 99,56 – – – –Class Z Units EUR 2 270 188
690,33 222,15 1 093 745 118,05 215,42 599 287 971,29 201,54Class ZD
Units EUR 36 224 765,52 103,91 1 237 739,69 103,14 – –Total net
assets EUR 2 530 150 686,28 1 302 908 223,49 803 962 705,66Eurizon
EasyFund - Bond Emerging MarketsClass D Units EUR 87 477,90 257,22
170 257,91 241,22 134 403,12 210,78Class D2 Units USD 256 816,64
279,34 554 209,33 291,82 289 790,15 290,37Class I Units EUR 3 081
090,10 323,89 3 242 506,18 292,75 3 347 435,65 246,52Class IH Units
EUR 128 591 345,70 321,86 94 816 363,81 324,90 93 646 887,03
311,02Class R Units EUR 22 476 690,21 320,60 27 437 406,92 290,03
23 170 869,83 244,45Class R2 Units USD 359 882,48 349,86 902 754,35
352,37 141 435,23 337,99Class RH Units EUR 38 344 246,45 318,98 33
589 325,85 322,27 31 247 488,60 308,78Class Z Units EUR 173 055
751,24 348,48 115 445 252,25 312,46 103 151 694,26 261,03Class ZD
Units EUR 1 089 059,91 119,72 1 157 115,26 115,71 – –Class ZH Units
EUR 783 383 365,56 345,93 514 166 991,64 346,42 260 317 546,39
328,99Total net assets EUR 1 150 676 733,14 791 229 272,08 515 329
272,04Eurizon EasyFund - Bond Emerging Markets in Local
CurrenciesClass R Units EUR 1 954 763,87 82,32 2 404 378,30 88,91
864 801,72 86,39Class RU Units EUR 998 701,34 69,64 539 635,85
84,74 174 881,00 94,09Class Z Units EUR 1 558 077 658,63 86,85 496
830 095,61 92,98 55 304 523,24 89,54Class ZU Units EUR 20 416
437,69 70,08 20 981 273,60 84,50 35 203 986,64 92,99Total net
assets EUR 1 581 447 561,53 520 755 383,36 91 548 192,60Eurizon
EasyFund - Bond FlexibleClass R Units EUR 14 802 822,29 100,18 651
714,26 99,64 – –Class RD Units EUR 60 259 253,24 99,22 9 813 882,20
99,59 – –Class Z Units EUR 50 708 745,71 101,39 22 969 044,50 99,87
– –Class ZD Units EUR 34 885 967,32 100,65 40 907 238,37 99,86 –
–Total net assets EUR 160 656 788,56 74 341 879,33 –Eurizon
EasyFund - Equity ItalyClass R Units EUR 33 178 604,44 97,97 18 908
563,11 81,93 7 376 393,64 81,27Class Z Units EUR 277 004 250,49
105,06 139 167 992,98 87,03 69 473 819,86 85,45Total net assets EUR
310 182 854,93 158 076 556,09 76 850 213,50Eurizon EasyFund -
Equity EuropeClass R Units EUR 9 274 799,34 148,32 9 920 103,25
136,98 12 841 594,86 133,17Class Z Units EUR 332 856 653,45 157,85
214 231 855,84 144,46 23 177 256,32 138,73Class ZD Units EUR 1 108
683,53 110,87 1 022 707,26 102,27 – –Total net assets EUR 343 240
136,32 225 174 666,35 36 018 851,18Eurizon EasyFund - Equity Small
Cap EuropeClass R Units EUR 40 332 615,84 625,72 41 987 198,00
547,27 49 909 361,23 530,53Class R2 Units USD 2 087 367,78 681,98 2
361 367,99 663,71 1 431 577,50 731,49Class RH2 Units USD 554 972,77
97,98Class Z Units EUR 53 519 027,82 692,32 38 262 842,48 600,02 35
353 015,35 575,78Total net assets EUR 96 284 066,11 82 201 503,67
86 301 295,59Eurizon EasyFund - Equity Eastern EuropeClass Z Units
EUR 11 146 890,90 101,81 11 118 627,10 103,95 11 914 606,44
106,89Total net assets EUR 11 146 890,90 11 118 627,10 11 914
606,44Eurizon EasyFund - Azioni Strategia FlessibileClass D Units
EUR 1 403 660,51 98,62 – – – –Class D2 Units USD 66 425,12 97,34 –
– – –Class D4 Units AUD 6 783,35 97,21 – – – –Class R Units EUR 1
451 312 736,85 143,91 1 246 025 555,88 140,23 745 940 002,74
133,91Class R2 Units USD 873 800,19 98,89 – – – –Class R4 Units AUD
29 433,54 97,53 – – – –Class RL Units EUR 80 748 906,90 146,68 95
228 231,49 142,43 107 955 070,05 135,61
-
Eurizon EasyFund
COMPARATIVE NET ASSET VALUES OVER THE LAST THREE YEARS
Class Ru2 Units USD 2 175 872,77 99,55 – – – –Class Z Units EUR
997 633 564,63 154,43 400 487 662,04 148,92 330 984 563,23
140,74Class ZD Units EUR 99 723 477,77 111,10 94 158 179,62 108,31
24 294 442,49 107,63Total net assets EUR 2 633 715 145,72 1 835 899
629,03 1 209 174 078,52Eurizon EasyFund - Orizzonte Protetto 6Class
R Units EUR – – 7 016 320,32 113,26 11 047 564,86 113,93Total net
assets EUR – 7 016 320,32 11 047 564,86Eurizon EasyFund - Orizzonte
Protetto 12Class R Units EUR – – 10 676 490,06 129,32 13 412 591,77
126,57Total net assets EUR – 10 676 490,06 13 412 591,77Eurizon
EasyFund - Orizzonte Protetto 24Class R Units EUR – – 12 662 562,95
133,77 16 257 392,82 130,68Total net assets EUR – 12 662 562,95 16
257 392,82Eurizon EasyFund - Absolute PrudenteClass R Units EUR 211
926 670,65 119,47 155 808 995,17 118,15 209 097 070,16 115,63Class
Z Units EUR 90 105 776,44 126,30 6 967 562,23 124,34 5 119,27
121,10Total net assets EUR 302 032 447,09 162 776 557,40 209 102
189,43Eurizon EasyFund - Absolute AttivoClass R Units EUR 120 581
771,47 120,48 161 115 015,10 118,44 207 062 916,04 114,88Class Z
Units EUR 12 268 649,92 129,86 303 560,63 126,88 301 671,64
122,52Total net assets EUR 132 850 421,39 161 418 575,73 207 364
587,68Eurizon EasyFund - GT Asset AllocationClass Z Units EUR 62
175 830,45 103,16 71 126 697,88 103,80 71 579 345,71 102,21Total
net assets EUR 62 175 830,45 71 126 697,88 71 579 345,71Eurizon
EasyFund - TrendClass Z Units EUR 23 089 299,32 106,81 26 384
096,48 107,97 28 544 729,66 106,53Total net assets EUR 23 089
299,32 26 384 096,48 28 544 729,66Eurizon EasyFund - Equity
Absolute ReturnClass Z Units EUR 353 485 820,07 101,02 130 918
090,54 99,29 – –Total net assets EUR 353 485 820,07 130 918 090,54
–Eurizon EasyFund - MultiassetClass R Units EUR 719 988,28 104,34
575 102,07 102,60 – –Class RD Units EUR 383 147,45 104,96 297
254,39 104,15 – –Class Z Units EUR 189 452 761,81 105,43 56 120
985,56 102,78 – –Total net assets EUR 190 555 897,54 56 993 342,02
–Eurizon EasyFund - Flexible Beta Total ReturnClass R Units EUR 61
564 457,51 106,62 363 788,45 101,28 – –Class Z Units EUR 1 355 121
159,84 739,74 714 114 600,16 693,53 – –Total net assets EUR 1 416
685 617,35 714 478 388,61 –Eurizon EasyFund - Dynamic Asset
AllocationClass R Units EUR 9 511,69 95,12 – – – –Class Z Units EUR
465 011 165,47 586,97 122 559 726,00 569,00 – –Total net assets EUR
465 020 677,16 122 559 726,00 –
-
Eurizon EasyFund
COMBINED STATEMENT OF NET ASSETS AS AT 31 DECEMBER 2015 IN
EUR
Assets NotesInvestments in securities (Note 2) 30 310 506
003,95Banks 834 090 206,81Amounts due from brokers 45 256
188,15Option contracts (Notes 2, 8) 6 824 378,35Swap premium paid
(Notes 2, 8) 2 905 231,64Unrealised profit on forward foreign
exchange contracts (Notes 2, 8) 47 474 796,79Unrealised profit on
future contracts (Notes 2, 8) 17 069 193,01Unrealised profit on
swap contracts (Notes 2, 8) 2 821 746,66Interest receivable on swap
contracts (Notes 2, 8) 1 522 757,35Other interest receivable 205
985 731,89Receivable on investments sold 341 097 412,10Receivable
on subscriptions 59 551 186,46Other assets (Note 10) 8 901
138,39Total assets 31 884 005 971,55
LiabilitiesBank overdrafts (8 192 329,49)Amounts due to brokers
(3 972 021,72)Option contracts (Notes 2, 8) (5 788 204,78)Swap
premium received (Notes 2, 8) (13 033 064,77)Unrealised loss on
forward foreign exchange contracts (Notes 2, 8) (70 556
506,26)Unrealised loss on future contracts (Notes 2, 8) (15 544
933,65)Unrealised loss on swap contracts (Notes 2, 8) (8 615
801,92)Interest payable on swap contracts (Notes 2, 8) (1 416
400,56)Payable on investments purchased (422 370 258,08)Payable on
redemptions (77 100 070,62)Other liabilities (42 466 341,15)Total
liabilities (669 055 933,00)
Total net assets 31 214 950 038,55
The accompanying notes form an integral part of these financial
statements.
-
Eurizon EasyFund
COMBINED STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED
31DECEMBER 2015 IN EUR
Net assets at the beginning of the year Notes 21 709 921
726,43
Net income from investments (Notes 2, 9) 643 867 958,47Interest
on bank accounts 17 659,60Interest received on swap contracts 13
256 068,20Other income 669 624,72Total income 657 811
310,99Management fee (Note 5) (141 272 000,57)Performance fee (Note
6) (23 411 256,90)Depositary fee (Note 7) (16 774
577,26)Subscription tax (Note 3) (4 223 866,87)Interest paid on
swap contracts (14 364 780,76)Interest on bank accounts (18
960,95)Other charges and taxes (Notes 4, 7) (30 720 774,53)Total
expenses (230 786 217,84)Net investment income / (loss) 427 025
093,15Net realised profit / (loss) on sales of investments,
currencies and otherfinancial instruments 562 735 234,28Change in
unrealised appreciation / (depreciation) on- investments (Note 2)
(703 234 750,76)- option contracts (Note 8) (1 419 594,23)- forward
foreign exchange contracts (Note 8) 32 081 440,99- foreign
currencies (3 271 454,40)- future contracts (Note 8) (3 662
766,45)- swap contracts (Note 8) (8 770 356,70)Net result of
operations for the year 301 482 845,88
Subscriptions for the year 31 187 298 007,65Redemptions for the
year (21 979 157 405,88)Dividend distributions (Note 14) (4 595
135,53)
Net assets at the end of the year 31 214 950 038,55
The accompanying notes form an integral part of these financial
statements.
-
Eurizon EasyFund - Cash EUR
STATEMENT OF NET ASSETS AS AT 31 DECEMBER 2015 IN EUR
The accompanying notes form an integral part of these financial
statements.
Assets NotesInvestments in securities (Note 2) 3 553 850
966,30Banks 7 838 868,48Amounts due from brokers 46 875,00Other
interest receivable 799 117,64Receivable on investments sold 166
023 508,25Receivable on subscriptions 11 062 492,10Total assets 3
739 621 827,77
LiabilitiesUnrealised loss on future contracts (Notes 2, 8) (1
875,00)Payable on investments purchased (164 709 407,32)Payable on
redemptions (17 499 827,97)Other liabilities (973 489,03)Total
liabilities (183 184 599,32)
Total net assets 3 556 437 228,45
Currency Net Asset Value per Unit Units outstanding
Class A Units EUR 116,33 214 125,188Class I Units EUR 113,46 1
271 991,963Class R Units EUR 113,17 1 969 440,036Class Z Units EUR
119,50 26 480 436,669
-
Eurizon EasyFund - Cash EUR
STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 31
DECEMBER2015 IN EUR
The accompanying notes form an integral part of these financial
statements.
Net assets at the beginning of the year Notes 3 194 811
324,73
Net income from investments (Note 2) 4 892 737,30Total income 4
892 737,30Management fee (Note 5) (5 514 325,51)Depositary fee
(Note 7) (1 378 546,39)Subscription tax (Note 3) (347 199,34)Other
charges and taxes (Notes 4, 7) (2 692 927,26)Total expenses (9 932
998,50)Net investment income / (loss) (5 040 261,20)Net realised
profit / (loss) on sales of investments, currencies and
otherfinancial instruments (Notes 2, 8) 7 759 783,33Change in
unrealised appreciation / (depreciation) on- investments (Note 2)
(4 225 656,52)- future contracts (Notes 2, 8) (1 875,00)Net result
of operations for the year (1 508 009,39)
Subscriptions for the year 2 329 389 015,82Redemptions for the
year (1 966 255 102,71)
Net assets at the end of the year 3 556 437 228,45
-
Eurizon EasyFund - Cash EUR
The accompanying notes form an integral part of these financial
statements.
PORTFOLIO AS AT 31 DECEMBER 2015 IN EUR
Nominal /Quantity Description Currency Acquisition cost Carrying
amount value
% ofNet Assets
PORTFOLIO 3 554 135 123,53 3 553 850 966,30 99,93
TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED
TOOFFICIAL STOCK EXCHANGE LISTING 3 554 135 123,53 3 553 850 966,30
99,93
Ordinary Bonds 28 360 585,00 27 932 792,00 0,79
ITALY 22 014 615,00 21 703 920,00 0,61
Government 22 014 615,00 21 703 920,00 0,6121 000 000,00 BTP
4.75% 15/09/2016 EUR 22 014 615,00 21 703 920,00 0,61
FRANCE 6 345 970,00 6 228 872,00 0,18
Finance 6 345 970,00 6 228 872,00 0,183 200 000,00 BPCE SA 1.75%
14/03/2016 EUR 3 248 800,00 3 210 272,00 0,093 000 000,00 CREDIT
AGRICOLE SA 3.625% 08/03/2016 EUR 3 097 170,00 3 018 600,00
0,09
Floating rate notes 404 193 649,48 403 202 262,70 11,34
ITALY 286 734 958,55 285 770 833,70 8,04
Government 286 734 958,55 285 770 833,70 8,04251 370 000,00 CCT
FRN 15/06/2017 EUR 261 394 958,55 260 421 833,70 7,3225 000 000,00
CCT FRN 15/10/2017 EUR 25 340 000,00 25 349 000,00 0,72
GERMANY 43 350 489,50 43 337 330,00 1,22
Finance 43 350 489,50 43 337 330,00 1,2216 500 000,00 DEUTSCHE
BANK AG FRN 11/03/2016 EUR 16 485 747,00 16 502 970,00 0,4614 750
000,00 LBBW FRN 22/09/2017 EUR 14 803 542,50 14 799 560,00 0,4212
000 000,00 DZ BANK AG DEUTSCHE ZENTRAL-
GENOSSENSCHAFTSBANK FRN 15/08/2016EUR 12 061 200,00 12 034
800,00 0,34
NETHERLANDS 29 956 250,00 29 960 445,50 0,84
Finance 29 956 250,00 29 960 445,50 0,8417 150 000,00 RABOBANK
NEDERLAND FRN 13/01/2017 EUR 17 153 375,00 17 152 229,50 0,4810 300
000,00 RABOBANK NEDERLAND FRN 12/10/2017 EUR 10 300 000,00 10 307
416,00 0,292 500 000,00 ING BANK NV FRN 04/11/2016 EUR 2 502 875,00
2 500 800,00 0,07
UNITED STATES 29 746 715,00 29 736 325,50 0,84
Finance 29 746 715,00 29 736 325,50 0,8412 650 000,00 JPMORGAN
CHASE & CO FRN 12/06/2017 EUR 12 747 405,00 12 711 605,50 0,368
000 000,00 JPMORGAN CHASE & CO FRN 20/11/2016 EUR 7 992 470,00
8 004 320,00 0,236 000 000,00 GOLDMAN SACHS GROUP INC FRN
27/07/2017 EUR 6 000 000,00 6 014 820,00 0,173 000 000,00 JPMORGAN
CHASE & CO FRN 19/02/2017 EUR 3 006 840,00 3 005 580,00
0,08
FRANCE 14 405 236,43 14 397 328,00 0,40
Finance 14 405 236,43 14 397 328,00 0,4011 600 000,00 BPCE SA
FRN 10/03/2017 EUR 11 600 000,00 11 596 404,00 0,321 400 000,00
SOCIETE GENERALE SA FRN 29/03/2016 EUR 1 403 150,00 1 400 756,00
0,041 400 000,00 BPCE SA FRN 13/01/2016 EUR 1 402 086,43 1 400
168,00 0,04
Zero-Coupon Bonds 3 121 580 889,05 3 122 715 911,60 87,80
ITALY 2 318 580 428,29 2 319 535 557,15 65,22
Government 2 318 580 428,29 2 319 535 557,15 65,22417 600 000,00
BOT 0.00% 31/03/2016 EUR 417 529 981,67 417 729 414,24 11,75324 000
000,00 BOT 0.00% 29/04/2016 EUR 324 079 288,84 324 084 240,00
9,11291 950 000,00 BOT 0.00% 14/11/2016 EUR 292 017 757,53 292 101
814,00 8,21228 100 000,00 BOT 0.00% 14/10/2016 EUR 228 092 578,78
228 225 455,00 6,42216 700 000,00 BOT 0.00% 31/05/2016 EUR 216 759
716,55 216 745 507,00 6,09150 000 000,00 BOT 0.00% 30/06/2016 EUR
150 022 191,75 150 028 500,00 4,22131 325 000,00 BOT 0.00%
29/02/2016 EUR 131 317 299,96 131 355 217,88 3,6987 150 000,00 BOT
0.00% 14/07/2016 EUR 87 086 278,47 87 177 888,00 2,4586 350 000,00
BOT 0.00% 12/02/2016 EUR 86 164 853,50 86 367 261,37 2,4378 375
000,00 BOT 0.00% 12/08/2016 EUR 78 355 985,44 78 396 945,00 2,2076
080 000,00 BOT 0.00% 14/09/2016 EUR 76 051 432,22 76 104 345,60
2,14
-
Eurizon EasyFund - Cash EUR
The accompanying notes form an integral part of these financial
statements.
PORTFOLIO AS AT 31 DECEMBER 2015 IN EUR
Nominal /Quantity Description Currency Acquisition cost Carrying
amount value
% ofNet Assets
70 500 000,00 BOT 0.00% 13/05/2016 EUR 70 525 179,89 70 534
545,00 1,9851 450 000,00 BOT 0.00% 14/06/2016 EUR 51 411 639,31 51
471 089,36 1,4550 775 000,00 BOT 0.00% 14/12/2016 EUR 50 772 941,07
50 796 325,50 1,4337 200 000,00 CTZ 0.00% 29/04/2016 EUR 37 182
516,00 37 204 464,00 1,0521 210 000,00 BOT 0.00% 29/01/2016 EUR 21
210 787,31 21 212 545,20 0,60
SPAIN 803 000 460,76 803 180 354,45 22,58
Government 803 000 460,76 803 180 354,45 22,58177 200 000,00
SPAIN LETRAS DEL TESORO 0.00% 19/08/2016 EUR 177 217 247,57 177 267
336,00 4,98175 300 000,00 SPAIN LETRAS DEL TESORO 0.00% 15/07/2016
EUR 175 359 656,94 175 359 602,00 4,93158 445 000,00 SPAIN LETRAS
DEL TESORO 0.00% 13/05/2016 EUR 158 439 694,67 158 502 040,20
4,46137 500 000,00 SPAIN LETRAS DEL TESORO 0.00% 17/06/2016 EUR 137
473 597,40 137 541 236,25 3,87128 500 000,00 SPAIN LETRAS DEL
TESORO 0.00% 09/12/2016 EUR 128 512 993,92 128 500 000,00 3,6126
000 000,00 SPAIN LETRAS DEL TESORO 0.00% 16/09/2016 EUR 25 997
270,26 26 010 140,00 0,73
Total Portfolio 3 554 135 123,53 3 553 850 966,30 99,93
-
Eurizon EasyFund - Cash EUR
The accompanying notes form an integral part of these financial
statements.
COMMITMENTS ON FUTURE CONTRACTS AS AT 31 DECEMBER 2015
Size Quantity
Purchase/
Sale Description Maturity Currency
Unrealisedprofit / (loss)
(EUR)Commitment
(EUR)
Total Unrealised profit / (loss) on future contracts and
commitment (1 875,00) 37 561 875,00
Unrealised loss on future contracts and commitment (1 875,00) 37
561 875,00
1 000 000,00 (150) Sale 3MO EURIBOR 14/03/2016 EUR (1 875,00) 37
561 875,00
-
Eurizon EasyFund - Treasury USD
STATEMENT OF NET ASSETS AS AT 31 DECEMBER 2015 IN EUR
The accompanying notes form an integral part of these financial
statements.
Assets NotesInvestments in securities (Note 2) 176 217
123,06Banks 7 016 288,44Other interest receivable 1 447
283,45Receivable on investments sold 7 713 470,11Receivable on
subscriptions 122 141,00Total assets 192 516 306,06
LiabilitiesBank overdrafts (38 769,68)Payable on investments
purchased (7 253 334,05)Payable on redemptions (7 217 825,20)Other
liabilities (96 863,66)Total liabilities (14 606 792,59)
Total net assets 177 909 513,47
Currency Net Asset Value per Unit Units outstanding
Class I Units EUR 115,51 40 078,104Class R Units EUR 115,14 521
544,365Class Z Units EUR 122,11 927 305,467
-
Eurizon EasyFund - Treasury USD
STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 31
DECEMBER2015 IN EUR
The accompanying notes form an integral part of these financial
statements.
Net assets at the beginning of the year Notes 270 800 124,25
Net income from investments (Note 2) 3 667 329,77Total income 3
667 329,77Management fee (Note 5) (786 238,05)Depositary fee (Note
7) (152 862,10)Subscription tax (Note 3) (22 172,88)Other charges
and taxes (Notes 4, 7) (244 281,05)Total expenses (1 205 554,08)Net
investment income / (loss) 2 461 775,69Net realised profit / (loss)
on sales of investments, currencies and otherfinancial instruments
(Notes 2, 8) 42 987 251,13Change in unrealised appreciation /
(depreciation) on- investments (Note 2) (16 223 296,91)- foreign
currencies (130 991,05)Net result of operations for the year 29 094
738,86
Subscriptions for the year 168 345 268,95Redemptions for the
year (290 330 618,59)
Net assets at the end of the year 177 909 513,47
-
Eurizon EasyFund - Treasury USD
The accompanying notes form an integral part of these financial
statements.
PORTFOLIO AS AT 31 DECEMBER 2015 IN EUR
Nominal /Quantity Description Currency Acquisition cost Carrying
amount value
% ofNet Assets
PORTFOLIO 172 380 231,02 176 217 123,06 99,05
TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED
TOOFFICIAL STOCK EXCHANGE LISTING 166 488 143,02 169 962 674,12
95,53
Ordinary Bonds 161 251 248,12 163 288 175,94 91,78
UNITED STATES 112 527 330,94 112 901 106,49 63,46
Government 112 527 330,94 112 901 106,49 63,4629 250 000,00
UNITED STATES TREASURY NOTE 1.50%
31/07/2016USD 26 522 169,38 27 060 894,31 15,21
29 000 000,00 UNITED STATES TREASURY NOTE 0.50%31/07/2016
USD 26 610 438,91 26 679 438,91 15,00
25 750 000,00 UNITED STATES TREASURY NOTE 0.50%30/09/2016
USD 23 760 910,43 23 669 131,01 13,30
21 500 000,00 UNITED STATES TREASURY NOTE 0.50%31/08/2016
USD 19 624 063,46 19 768 760,40 11,11
16 900 000,00 UNITED STATES TREASURY NOTE 4.50%15/02/2016
USD 15 917 811,83 15 630 929,36 8,79
100 000,00 UNITED STATES TREASURY NOTE 0.625%15/12/2016
USD 91 936,93 91 952,50 0,05
ITALY 42 100 484,51 43 297 185,11 24,34
Government 42 100 484,51 43 297 185,11 24,3438 800 000,00 ITALY
GOVERNMENT INTERNATIONAL BOND 4.75%
25/01/2016USD 34 567 802,98 35 780 435,72 20,11
7 950 000,00 ITALY GOVERNMENT INTERNATIONAL BOND
5.25%20/09/2016
USD 7 532 681,53 7 516 749,39 4,23
GERMANY 3 351 920,81 3 449 668,54 1,94
Finance 3 351 920,81 3 449 668,54 1,943 750 000,00 KFW 0.50%
19/04/2016 USD 3 351 920,81 3 449 668,54 1,94
LUXEMBOURG 1 948 481,99 1 980 099,84 1,11
Supranational 1 948 481,99 1 980 099,84 1,111 150 000,00 EIB
0.50% 15/08/2016 USD 1 021 195,61 1 056 257,46 0,591 000 000,00
EUROPEAN BANK FOR RECONSTRUCTION &
DEVELOPMENT 2.50% 15/03/2016USD 927 286,38 923 842,38 0,52
FRANCE 1 323 029,87 1 660 115,96 0,93
Finance 1 323 029,87 1 660 115,96 0,931 800 000,00 CREDIT
AGRICOLE SA 1.481% 15/04/2016 USD 1 323 029,87 1 660 115,96
0,93
Floating rate notes 5 236 894,90 6 674 498,18 3,75
NETHERLANDS 5 236 894,90 6 674 498,18 3,75
Finance 5 236 894,90 6 674 498,18 3,757 250 000,00 BANK
NEDERLANDSE GEMEENTEN NV FRN
08/02/2016USD 5 236 894,90 6 674 498,18 3,75
TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS DEALT IN
ONANOTHER REGULATED MARKET 5 892 088,00 6 254 448,94 3,52
Floating rate notes 4 567 599,56 4 961 353,13 2,79
UNITED STATES 2 151 196,26 2 202 595,93 1,24
Finance 2 151 196,26 2 202 595,93 1,241 200 000,00 MORGAN
STANLEY FRN 18/10/2016 USD 1 055 395,29 1 102 612,52 0,621 200
000,00 CITIGROUP INC FRN 01/05/2017 USD 1 095 800,97 1 099 983,41
0,62
FRANCE 1 321 899,38 1 660 894,75 0,93
Finance 1 321 899,38 1 660 894,75 0,931 800 000,00 BPCE SA FRN
25/04/2016 USD 1 321 899,38 1 660 894,75 0,93
-
Eurizon EasyFund - Treasury USD
The accompanying notes form an integral part of these financial
statements.