MAZARS
AGRESSOR FUND 53, Avenue d’IENA 75116 PARIS
Statement of the auditors Composition of the assets as at 30 June 2011
AGRESSOR FUND
Statement of the auditors
Composition of the assets as at 30 June 2011
As auditors of the AGRESSOR fund and in implementation of the provisions set down in article L. 214-8 of the French Monetary and Financial Code and in article 38 VI of AMF instruction no. 2005-01 adopted pursuant to the General Regulations of the AMF, we have verified the accuracy of the composition of the assets as appended to this statement. The composition of the assets was established under the responsibility of the management company. It falls to us, on the basis of our audits, to certify its accuracy. We have performed the procedures that we considered necessary in accordance with the professional standards of the French national audit body (Compagnie Nationale des Commissaires aux Comptes) relating to this assignment. These procedures involved appraising the accuracy of the information in terms of its coherence, its plausibility and its relevance. An audit of this nature, limited in terms of its objective, essentially consists of analytical procedures and meetings with the persons responsible for the information provided. We have no comments to make on the accuracy of the information provided in the appended document.
Executed at Courbevoie, 5 August 2011 The auditors
Mazars: Gilles DUNAND-ROUX
FR0010581702
IC
Total
1 259 956 142.69
14 183 814.78
Cash & Equivalent
71 012 635.00
Money Market
1 324 241.46
Coupons & Dividends
1 173 435 451.45
Securities
1 154 244 240.23
14 183 814.78
71 000 000.00
1 326 511.81
1 067 733 913.64
Book Cost FCY
FR0010321802
C
Market Value FCY
ISIN Code
Unit
Summary
105 699 267.46
-2 270.35
105 701 537.81
P&L
1 230.18000
1 333.67000
NAV per share
Code 74003
Fund description
AGRESSOR
Fund description
as of 30/06/2011
Statement of Holdings of AGRESSOR
12 635.00
12 635.00
Accruals
36 992 874.88000
1 222 963 267.81000 EUR
EUR
Class Net Asset Value NAV Ccy
1 259 956 142.69 EUR
Net asset value Ccy
NAV Status
30 071.09400
916 989.72900
Outstanding shares
OFF
28/02/2012 - Page 1 - Groupe Societe Générale
BOURBON
BOURBON DS
BUREAU VERITAS
CEGEDIM
CFAO
CLARIANT (NAMEN)
CONTINENTAL AG
CS COMMUNICATION & SYSTEMES
DANONE
DERICHEBOURG ACT.
EXACOMPTA CLAIREFONTAINE
FR0004548873
FR0011055888
FR0006174348
FR0000053506
FR0000060501
CH0012142631
DE0005439004
FR0007317813
FR0000120644
FR0000053381
FR0000064164
PIAGGIO & C
RALLYE
RECKITT BENCKISER GROUP PLC
REXEL
FR0000060618
GB00B24CGK77
FR0010451203
ORIFLAME COSMETICS SA SDB
SE0001174889
PROSEGUR COMPANIA DE SEGURIDAD-REGD
NORBERT DENTRESSANGLE (GROUPE)
FR0000052870
ES0175438235
NEXTRADIOTV
FR0010240994
IT0003073266
MICHELIN (CGDE)-SA
NEXANS SA
MICHAEL PAGE INTERNATIONAL
GB0030232317
FR0000121261
MANUTAN INTERNATIONAL
FR0000044448
LECTRA
FR0000032302
FR0000054231
FR0000065484
HIGH CO
KYG450481083
IMERYS SA
HENGDELI HOLDINGS LTD
FR0000032526
LAFARGE SA
GUERBET
FR0000072910
FR0000120859
GROUPE STERIA SCA
FR0000051831
FR0000120537
FOLLI FOLLIE GROUP
GROUPE GUILLIN
GRS294003009
EXEL INDUSTRIES
BENETEAU
FR0000035164
FAURECIA
AXA
FR0000120628
FR0004527638
ASSOCIATED BRITISH FOODS
GB0006731235
FR0000121147
ALTRAN TECHNOLOGIES
APERAM
FR0000034639
Asset description
LU0569974404
Equities
Securities
Security code
Holdings
1 652 000.00
720 000.00
997 003.00
560 000.00
10 000 000.00
660 000.00
439 545.00
913 000.00
580 000.00
412 601.00
4 100 000.00
229 887.00
2 475 000.00
670 000.00
100 000.00
980 000.00
22 128 000.00
126 850.00
1 350 000.00
136 600.00
688 000.00
1 100 000.00
420 000.00
69 200.00
3 500 000.00
530 000.00
331 815.00
510 000.00
2 100 000.00
680 000.00
455 000.00
440 000.00
990 000.00
990 000.00
940 000.00
1 700 000.00
2 400 000.00
710 000.00
6 230 000.00
Quantity / Amount
Statement of Holdings of AGRESSOR as of 30/06/2011
17.10000 EUR
34.40000 GBP
28.65000 EUR
36.67000 EUR
2.88800 EUR
311.30000 SEK
81.49000 EUR
14.64000 EUR
64.90000 EUR
67.44000 EUR
5.35000 GBP
53.20000 EUR
5.80000 EUR
43.94500 EUR
48.59500 EUR
8.97000 EUR
4.11000 HKD
78.00000 EUR
20.34000 EUR
68.50000 EUR
9.92000 EUR
29.53500 EUR
41.74000 EUR
79.00000 EUR
5.36500 EUR
51.45000 EUR
4.30000 EUR
72.45000 EUR
16.07000 CHF
29.88000 EUR
38.85000 EUR
58.24000 EUR
2.99800 EUR
29.98000 EUR
14.85000 EUR
15.67000 EUR
10.83000 GBP
22.33000 EUR
5.57900 EUR
Price Ccy
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
Price Date
20 280 578.71
28 920 646.61
32 835 928.39
24 367 371.15
22 917 890.00
26 471 815.78
18 817 949.38
15 682 875.27
32 925 937.68
20 374 904.33
13 243 963.51
9 297 593.70
13 596 914.25
29 218 988.45
5 303 753.35
8 164 091.46
5 487 993.56
8 910 857.64
37 485 194.90
6 325 687.74
7 224 406.20
20 837 676.09
9 562 181.72
9 005 448.29
12 268 198.90
21 285 711.50
5 504 584.91
23 567 428.71
21 077 624.24
19 116 433.73
26 219 856.38
17 945 134.53
26 235 920.76
8 823 599.65
22 940 995.00
27 245 774.38
20 852 552.00
31 504 058.64
Book Cost FCY
28 249 200.00
27 442 246.97
28 564 135.95
20 535 200.00
28 880 000.00
22 395 927.58
35 818 522.05
13 366 320.00
37 642 000.00
27 825 811.44
24 303 362.69
12 229 988.40
14 355 000.00
29 443 150.00
4 859 500.00
8 790 600.00
8 085 892.87
9 894 300.00
27 459 000.00
9 357 100.00
6 824 960.00
32 488 500.00
17 530 800.00
5 466 800.00
18 777 500.00
27 268 500.00
1 426 804.50
36 949 500.00
27 957 087.23
20 318 400.00
17 676 750.00
25 625 600.00
2 968 020.00
29 680 200.00
13 959 000.00
26 639 000.00
28 798 404.52
15 854 300.00
34 757 170.00
Market Value FCY
Accruals
7 968 621.29
-1 478 399.64
-4 271 792.44
-3 832 171.15
5 962 110.00
-4 075 888.20
17 000 572.67
-2 316 555.27
4 716 062.32
7 450 907.11
11 059 399.18
2 932 394.70
758 085.75
224 161.55
-444 253.35
626 508.54
2 597 899.31
983 442.36
-10 026 194.90
3 031 412.26
-399 446.20
11 650 823.91
7 968 618.28
-3 538 648.29
6 509 301.10
5 982 788.50
-4 077 780.41
13 382 071.29
6 879 462.99
1 201 966.27
-8 543 106.38
7 680 465.47
2 968 020.00
3 444 279.24
5 135 400.35
3 698 005.00
1 552 630.14
-4 998 252.00
3 253 111.36
P&L
2.24
2.18
2.27
1.63
2.29
1.78
2.84
1.06
2.99
2.21
1.93
0.97
1.14
2.34
0.39
0.70
0.64
0.79
2.18
0.74
0.54
2.58
1.39
0.43
1.49
2.16
0.11
2.93
2.22
1.61
1.40
2.03
0.24
2.36
1.11
2.11
2.29
1.26
2.76
% TNA
28/02/2012 - Page 2 - Groupe Societe Générale
SANOFI
SCOR SE ACT PROV
SEB
SEQUANA CAPITAL
SERCO GROUP
SINOTRUK (HONG KONG)
SODEXO
SOMFY
SPIR COMMUNICATION
TRIGANO
UPM KYMMENE OYJ
VIEL & CIE
VILMORIN & CIE
ZODIAC AEROSPACE
FR0000073272
FR0000120578
FR0010411983
FR0000121709
FR0000063364
GB0007973794
HK3808041546
FR0000121220
FR0000120495
FR0000131732
FR0005691656
FI0009005987
FR0000050049
FR0000052516
FR0000125684
ECHIQUIER MONETAIRE C
PHILEAS L/S EUROPE I
FR0010839282
FR0011023910
219 120.00
Vte diff titres EUR
SDS021EUR
PnInvstMgrFee
PnInvstMgrFee
PnVarFee
F110EURC
F110EURIC
F170EURIC
MANAGEMENT FEES
Total CURRENT ACCOUNTS + SUSPENSE ACCOUNTS
RedemPybl-Hedge
Sous recev EUR BPP
SR021EUR
BDS021EUR
RP021EUR
BkDep EUR BPP
DsPur-Sec
BK021EUR
CURRENT ACCOUNTS + SUSPENSE ACCOUNTS
Cash & Equivalent
-108 095.46
-21 343.27
-1 273 950.16
2 774 862.00
2 316 798.84
-18 067 430.65
-2 387 170.11
30 992 545.77
1.00000 EUR
1.00000 EUR
1.00000 EUR
1.00000 EUR
1.00000 EUR
1.00000 EUR
1.00000 EUR
1.00000 EUR
30/06/2011
30/06/2011
50 000 000.00
21 000 000.00
-108 095.46
-21 343.27
-1 273 950.16
15 629 605.85
2 774 862.00
2 316 798.84
-18 067 430.65
-2 387 170.11
30 992 545.77
71 000 000.00
0.93000 EUR
0.88000 EUR
71 000 000.00
50 000 000.00
21 000 000.00
Total Money Market
BRED 0.93% 01/07/11
FR0119816132
Total Non-discounted
BNP 0.88% 01/07/2011
FR0119673780
Non-discounted
Money Market
-108 095.46
-21 343.27
-1 273 950.16
15 629 605.85
2 774 862.00
2 316 798.84
-18 067 430.65
-2 387 170.11
30 992 545.77
71 012 635.00
71 012 635.00
50 009 041.67
21 003 593.33
1 324 241.46
1 324 241.46
30/06/2011
219 120.00
324 000.00
210 071.46
1 173 435 451.45
11 567 874.13
3 033 532.33
7 027 631.80
1 506 710.00
1 161 867 577.32
43 221 600.00
11 900 000.00
13 590 990.00
25 220 000.00
18 044 200.00
11 505 660.00
17 369 456.00
28 651 800.00
14 386 663.70
31 219 877.02
15 939 000.00
27 455 000.00
31 360 000.00
26 787 776.40
1 326 511.81
EUR
30/06/2011
324 000.00
212 341.81
1 067 733 913.64
11 661 834.80
2 999 999.98
7 000 278.00
1 661 556.82
1 056 072 078.84
29 131 823.54
10 401 269.00
14 240 857.42
27 445 708.09
19 281 957.97
32 646 897.06
9 921 716.20
22 316 768.75
21 048 412.89
34 989 443.34
31 248 226.79
15 762 535.29
28 194 401.68
27 788 737.10
34 751 000.00
Market Value FCY
1 326 511.81
3 807 000.00
EUR
30/06/2011
30/06/2011
29/06/2011
29/06/2011
24/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
19 804 802.23
Book Cost FCY
Total Equities
VIEL ET COMPAGNIE
FR0000050049
913 000.00
EUR
GBP
101.18000 EUR
100.39474 EUR
88.63000 EUR
60.03000 EUR
85.00000 EUR
3.57000 EUR
12.61000 EUR
21.74000 EUR
33.94000 EUR
208.00000 EUR
54.06000 EUR
5.43000 HKD
5.52500 GBP
10.35000 EUR
72.25000 EUR
19.60000 EUR
55.44000 EUR
Price Date 30/06/2011
Total Coupons & Dividends
NEXTRADIOTV
FR0010240994
2 400 000.00
1 350 000.00
Price Ccy 29.45000 EUR
571 050.00
GROUPE STERIA SCA
FR0000072910
29 981.54
70 000.00
17 000.00
720 000.00
140 000.00
3 807 000.00
2 000 000.00
830 000.00
339 000.00
83 507.00
530 000.00
29 800 000.00
5 100 000.00
1 540 000.00
380 000.00
1 600 000.00
483 185.00
1 180 000.00
Quantity / Amount
571 050.00
A.B FOODS
GB0006731235
Equities
Coupons & Dividends
Total Securities
Total Ucits
ECHIQUIER AMERIQUE
FR0010433805
Ucits
Total Equities
Asset description
SAFRAN
Security code
Statement of Holdings of AGRESSOR as of 30/06/2011
12 635.00
12 635.00
9 041.67
3 593.33
Accruals
-2 270.35
-2 270.35
-2 270.35
105 701 537.81
-93 960.67
33 532.35
27 353.80
-154 846.82
105 795 498.48
14 089 776.46
1 498 731.00
-649 867.42
-2 225 708.09
-1 237 757.97
-21 141 237.06
7 447 739.80
6 335 031.25
-6 661 749.19
-3 769 566.32
-15 309 226.79
11 692 464.71
3 165 598.32
-1 000 960.70
14 946 197.77
P&L
-0.01
0.00
-0.10
1.24
0.22
0.18
-1.43
-0.19
2.46
5.63
5.63
3.97
1.67
0.11
0.11
0.05
0.02
0.03
0.02
93.14
0.92
0.24
0.56
0.12
92.22
3.43
0.94
1.08
2.00
1.43
0.91
1.38
2.27
1.14
2.48
1.27
2.18
2.49
2.13
2.76
% TNA
28/02/2012 - Page 3 - Groupe Societe Générale
Price Date
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
30/06/2011
Currency
EUR/CHF
EUR/DKK
EUR/GBP
EUR/HKD
EUR/NOK
EUR/SEK
EUR/USD
Used FX Rates
1.44530000
9.17390000
7.78750000
11.24750000
0.90255000
7.45870000
1.20710000
0.69189788
0.10900489
0.12841091
0.08890865
1.10797186
0.13407162
0.82843178
Reverse FX Rate
Price Date -42 402.18
Book Cost FCY
14 183 814.78
Used FX Rate
Price Ccy 1.00000 EUR
Total Cash & Equivalent
-42 402.18
Quantity / Amount -1 445 791.07
PnVstdVarFee
F171EURIC
Total MANAGEMENT FEES
Asset description
Security code
Statement of Holdings of AGRESSOR as of 30/06/2011
14 183 814.78
-1 445 791.07
-42 402.18
Market Value FCY
Accruals
P&L
1.13
-0.12
0.00
% TNA
28/02/2012 - Page 4 - Groupe Societe Générale