JGF SICAV Interim Report

THE JUPITER
GLOBAL FUND
Société d’Investissement à Capital Variable (SICAV)
Semi-Annual Review and Unaudited Financial Statements

For the six month period ended 31 March 2022
R.C.S. B 110.737
THE JUPITER GLOBAL FUND | SEMI-ANNUAL REVIEW AND UNAUDITED FINANCIAL STATEMENTS
The Offering of the shares of Jupiter Global Sovereign Opportunities have not been notified to the Bundesanstalt
für Finanzdienstleistungsaufsicht (Federal Agency for Financial Services Supervision) in accordance with § 310 of
the German Investment Code (Kapitalanlagegesetzbuch - KAGB).
FOR THE SIX MONTH PERIOD ENDED 31 MARCH 2022
Contents
Investment Objectives 4
Management, Administration and Independent Auditor 6
Board of Directors’ Report 7
Statement of Net Assets 9
Statement of Operations and Changes in Net Assets 15
Statistical Information 21
Schedule of Investments
Jupiter Asia Pacific Income (1) 29
Jupiter Dynamic Bond 32
Jupiter Dynamic Bond ESG (1) 51
Jupiter European Growth 57
Jupiter Europe ex-UK Equity (1) 60
Jupiter Financial Innovation 62
Jupiter Flexible Income (1) 66
Jupiter Flexible Macro (LUX) (1) 80
Jupiter Global Convertibles 87
Jupiter Global Ecology Bond (1) 92
Jupiter Global Ecology Diversified (1) 96
Jupiter Global Ecology Growth 103
Jupiter Global Emerging Markets Corporate Bond (1) 106
Jupiter Global Emerging Markets Short Duration Bond 113
Jupiter Global Equity Growth Unconstrained (1) 120
Jupiter Global High Yield Bond (1) 123
Jupiter Global Sovereign Opportunities (1) 130
Jupiter Global Sustainable Equities (LUX) (1) 140
Jupiter Global Value 142
Jupiter India Select 144
Jupiter Japan Select 148
Jupiter Pan European Smaller Companies (1) 151
Notes to the Financial Statements 155
Additional Information 172
Subscriptions cannot be received on the basis of this report. Subscriptions can only be accepted on the basis of
the current prospectus accompanied by the key investor information document or (for Hong Kong investors) key
fact statements of the respective funds, supplemented by the latest annual report and semi-annual report if
published thereafter.
Historical performance is not representative of future results.
(1)
This Fund is not authorised in Hong Kong and not available to Hong Kong residents.
3
Investment Objectives
The Jupiter Global Fund – The investment objective of Jupiter Asia Pacific
Jupiter Asia Pacific Income Income is to achieve long-term capital growth and
income by investing primarily in quoted companies in
any economic sector involved directly or indirectly in
the Asian and Pacific Region (excluding Japan).
The Jupiter Global Fund – The investment objective of Jupiter Dynamic Bond is
Jupiter Dynamic Bond to achieve a high income with the prospect of capital
growth from a portfolio of investments in global fixed
interest securities.
The Jupiter Global Fund – The investment objective of Jupiter Dynamic Bond
Jupiter Dynamic Bond ESG ESG is to achieve a high income with the prospect of
capital growth over the long term from a portfolio of
investments in global debt securities in respect of
which consideration is given to certain environmental,
social and governance characteristics.
The Jupiter Global Fund – The investment objective of Jupiter European Growth
Jupiter European Growth is to achieve long-term capital growth by exploiting
special investment opportunities in Europe.
The Jupiter Global Fund – The investment objective of Jupiter Europe ex-UK
Jupiter Europe ex-UK Equity Equity is to achieve capital growth over the long-term
(that is, three to five years).
The Jupiter Global Fund – The investment objective of Jupiter Financial
Jupiter Financial Innovation Innovation is to achieve capital growth in the long-
term by investing in equity and equity related
securities linked to financial innovation.
The Jupiter Global Fund – The investment objective of Jupiter Flexible Income is to
Jupiter Flexible Income provide regular income together with the prospect of
capital growth over the long-term (three to five years).
The Jupiter Global Fund – The investment objective of Jupiter Flexible Macro
Jupiter Flexible Macro (LUX) (LUX) is to provide a total return in excess of Euro
Short-Term Rate (€STR) over a three year rolling period
through a combination of capital growth and income.
The Jupiter Global Fund – The investment objective of Jupiter Global
Jupiter Global Convertibles Convertibles is to achieve long-term capital growth
through investment on a global basis in a diversified
portfolio of convertible securities.
The Jupiter Global Fund – The investment objective of Jupiter Global Ecology
Jupiter Global Ecology Bond Bond is to generate income with the prospect of capital
appreciation by investing primarily in fixed income
securities issued by companies based anywhere in the
world that focus on making a positive impact towards
environmental and sustainable objectives.
Jupiter Global Ecology Diversified Diversified is to generate long-term capital
appreciation and income investing primarily in global
equity and fixed income securities, that focus on
making a positive impact towards environmental and
sustainable objectives.
Investment Objectives (continued)
Jupiter Global Ecology Growth Growth is to generate long-term capital appreciation
and income investing primarily in global equity
securities that focus on making a positive impact
towards environmental and sustainable objectives.
The Jupiter Global Fund – The investment objective of Jupiter Global Emerging
Jupiter Global Emerging Markets Markets Corporate Bond is to achieve long-term
Corporate Bond income and capital growth through investment in
fixed interest securities of issuers exposed directly or
indirectly to emerging market economies worldwide.
The Jupiter Global Fund – The investment objective of Jupiter Global Emerging
Jupiter Global Emerging Markets Markets Short Duration Bond is to achieve long-term
Short Duration Bond income and capital growth by investing in a portfolio
of debt securities from emerging market countries
that have, on average, short durations.
The Jupiter Global Fund – The investment objective of Jupiter Global Equity
Jupiter Global Equity Growth Unconstrained Growth Unconstrained is to achieve long term capital
growth through investment in equity and equity
related securities of innovative companies based
anywhere in the world.
The Jupiter Global Fund – The investment objective of Jupiter Global High Yield
Jupiter Global High Yield Bond Bond is to achieve income and capital gain over the
medium to long term by investing in a portfolio of
global high yield bonds.
The Jupiter Global Fund – The investment objective of Jupiter Global Sovereign
Jupiter Global Sovereign Opportunities Opportunities is to achieve income and capital
growth over the medium to long term by investing in
a portfolio of global sovereign bonds.
The Jupiter Global Fund – The investment objective of Jupiter Global
Jupiter Global Sustainable Equities (LUX) Sustainable Equities (LUX) is to generate long term
capital capital growth, by investment worldwide
in companies leading the transition to a more
sustainable world.
The Jupiter Global Fund – The investment objective of Jupiter Global Value is
Jupiter Global Value to achieve long-term total return principally through
investment in equities on an international basis.
The Jupiter Global Fund – The investment objective of Jupiter India Select
Jupiter India Select is to achieve long-term capital growth through
investment primarily in India and selected
opportunities in Pakistan, Bangladesh, Sri Lanka,
Bhutan, Nepal and the Maldives.
The Jupiter Global Fund – The investment objective of Jupiter Japan Select is to
Jupiter Japan Select achieve long-term capital growth through investing
primarily in Japan and in selected opportunities in Asia.
The Jupiter Global Fund – The investment objective of Jupiter Pan European
Jupiter Pan European Smaller Companies Smaller Companies is to achieve long-term capital
growth through investment in equity and equity
related securities of European smaller companies.
5
Management, Administration and Independent Auditor

Board of Directors Investment Manager
Garth Lorimer Turner (Chairman)* Jupiter Asset Management Limited
Jacques Elvinger* The Zig Zag Building
Paula Moore 70 Victoria Street
Simon Rowson London SW1E 6SQ
Revel Wood* United Kingdom
*Independent Authorised and regulated by the Financial Conduct Authority
Registered Office Distributor

The Jupiter Global Fund Jupiter Asset Management Limited
31 Z.A. Bourmicht The Zig Zag Building
L-8070 Bertrange 70 Victoria Street
Grand Duchy of Luxembourg London SW1E 6SQ
United Kingdom
Depositary, Paying Agent
and Administrator UK Representative
Citibank Europe plc, Luxembourg Branch Jupiter Asset Management Limited
(From 11 October 2021) The Zig Zag Building
31 Z.A. Bourmicht 70 Victoria Street
L-8070 Bertrange London SW1E 6SQ
Grand Duchy of Luxembourg United Kingdom
J.P. Morgan Bank Luxembourg S.A. Swiss Representative

(Prior to 11 October 2021) BNP Paribas Securities Services, Paris
6, route de Trèves succursale de Zurich
L-2633 Senningerberg Selnaustrasse 16
Grand Duchy of Luxembourg 8002 Zurich
Switzerland
Management Company
Jupiter Asset Management International S.A. Hong Kong Representative
5, rue Heienhaff Jupiter Asset Management (Hong Kong) Limited
L-1736 Senningerberg (From 11 October 2021)
Grand Duchy of Luxembourg Rooms 1705- 1706
Authorised and regulated by the CSSF Alexandra House 18
Chater Road
Independent Auditor Central, Hong Kong
PricewaterhouseCoopers, société coopérative
2, rue Gerhard Mercator JPMorgan Chase Bank, N.A. Hong Kong Branch
L-2182 Luxembourg (Prior to 11 October 2021)
Grand Duchy of Luxembourg 21/F, JPMorgan Tower
138 Shatin Rural Committee Road
Legal Adviser Shatin, New Territories
Elvinger Hoss Prussen, société anonyme Hong Kong
2, Place Winston Churchill
L-1340 Luxembourg
Grand Duchy of Luxembourg
You can find further information about the company, all available funds within the company and share classes at
www.jupiteram.com. The Prospectus, the key investor information documents (KIIDs), the articles of incorporation
and the latest annual (30 September) and half-yearly (31 March) report and accounts may be obtained from the
administrator or the local paying agents, representatives and information agents.
Please refer to the prospectus for the contact address of the addresses of the local paying agents, representatives
and information agents.
Board of Directors’ Report

The Board presents the Semi-Annual Review and PAULA MOORE
Unaudited Financial Statements of the Company for Director
the period ended 31 March 2022. Paula Moore (British) is a Chartered Accountant and a
member of the Institute of Chartered Accountants in
Structure of the Company England and Wales. She is the Chief Operating Officer
The board of directors of the Company (the ‘Board’) of JAML and a Director of JAMI, the Management
has designated Jupiter Asset Management Company.
International S.A. (‘JAMI’) as Management Company
SIMON ROWSON
of the Company to perform investment
Director
management, administration and marketing functions
Simon Rowson (British) is a Solicitor of the Supreme
for the Company (‘The Jupiter Global Fund’). JAMI is
Court of England & Wales. He is Head of Legal of JAML.
authorised as a management company managing
UCITS governed by the UCITS Directive and is REVEL WOOD
authorised and regulated by the Luxembourg Director
regulator, the CSSF. Revel Wood (British) is a Chartered Accountant and a
member of the South African Institute of Chartered
As at 31 March 2022, the Company comprised
Accountants. He is an independent director on
22 active Funds with multiple share classes. Details
Luxembourg based fund and corporate structures,
of fund launches, merger and liquidations during
co-chairman of the ILA conducting officer forum and
the period can be found in Note 1 to the Financial
ALFI Fund Governance forum. He is co-founder of ONE
Statements.
group solutions a specialized governance provider.
Corporate Governance and the ALFI
Code of Conduct Chairman’s Review
The Board undertakes an annual review of ongoing Over the last two years, many people will have
compliance with the principles of the Code and longed for the day when the Covid-19 pandemic
considers that the Company has been in compliance would cease to be the dominant global news story.
with its principles in all material aspects throughout Sadly, that has now happened in the most tragic of
the six month period ended 31 March 2022. circumstances, as Russia’s invasion of Ukraine has
brought war back to Europe with an enormous
Board Composition human cost, the full scale of which is still coming to
light. The world has, it seems, leapt from the frying
The Board is composed of five Board members, three
pan into the fire.
of them being independent from JAMI and JAML.
The geopolitical ramifications of the war could
GARTH LORIMER TURNER
completely re-shape the post-Cold War international
Director and Chairman
order. From an economic point of view, its effects
Garth Lorimer Turner (British) is a Solicitor of the
are already significant and are still evolving. Energy
Supreme Court of England & Wales, a Solicitor of the
and food prices, already rising in late 2021, have
Supreme Court of Hong Kong and a Bermuda
continued to soar and that impact is hitting people’s
Barrister & Attorney.
wallets all over the world. In investment markets, the
JACQUES ELVINGER uncertainty of war and the scale of economic
Director disruption sent asset prices tumbling in most areas,
Jacques Elvinger (Luxembourgish) is a partner of the although some sectors – most notably investments
Luxembourg law firm of Elvinger Hoss Prussen, exposed to oil, gold and other commodities – have
société anonyme. performed well.
7
Board of Directors’ Report (continued)

Chairman’s Review (continued) The majority of the Jupiter Global Fund’s sub-funds
are Article 6, meaning that sustainability risks are
The future contains, as the saying goes, many “known
integrated into investment decisions, while a couple
unknowns”. Could the tentative steps already taken
are Article 9, meaning they have sustainable
towards peace result in an end to the war in Ukraine,
investment as their explicit objective. During the past
or will the conflict continue or even widen in the
few months we have undertaken a transition from
months to come? Will rising inflation trigger a global
some of the Article 6 sub-funds to Article 8, which
recession? And will Covid-19 (which hasn’t gone away
means we can evidence that through its investment
just because we talk about it less) cause more
process the sub-funds promote positive
widespread lockdowns in China or elsewhere, and
environmental and social characteristics as well as
what are the chances of a new variant creating a
good governance practices. We anticipate more of
major setback?
the sub-funds following suit in due course.
Regarding Russia specifically, Jupiter does not intend
The following pages provide detail about how each
to make any new investments in Russian securities
of the Jupiter Global Fund’s sub-funds have
for the foreseeable future. We will continue to
performed across the period under review. We
manage our existing holdings in a way that balances
cannot know how the future will unfold, but what
our clients’ best interests with our broader duties
we do know is that, as active investors, Jupiter’s fund
and obligations to society, considering each
managers can use their experience, expertise and the
investment on a case-by case-basis. In addition to
flexibility they have within each of their investment
strictly adhering to all sanctions and restrictions,
mandates to navigate these troubled waters on
Jupiter has a robust evaluation process and would
behalf of our clients.
never knowingly invest in a manner that supports the
Russian war effort.
Annual General Meeting
Leaving war and inflation aside for a moment, climate The next annual general meeting of the Company
change – and environmental, social and governance will be held on 16 February 2023 at the registered
(ESG) issues more widely – remain an animating force office of the Company to consider matters relating
for politicians, policymakers and investors. Many to the year ended on 30 September 2022.he
hopes for the future of our planet were pinned on
the outcomes of the delayed COP 26 conference.
During the conference, nations made pledges to stop
public investment in coal power, end deforestation,
reduce carbon and methane emissions and do it all in
a shorter timescale than previously intended. Garth Lorimer Turner
However, there is no escaping from the fact that Chairman
these pledges did not go far enough to limit global Luxembourg, 27 March 2022
temperature increases to 1.5 degrees. Further policy
and regulation changes have been announced since,
and it seems clear that the momentum behind
sustainable investing, including on topics such as
biodiversity and natural capital, is as strong as ever.
ESG investment principles have been important

to Jupiter for a long time. Recently, however, a
new classification system has been introduced to
categorise funds according to how they incorporate
ESG into their investment processes. The EU’s
Sustainable Finance Disclosure Regulation classifies
funds as Article 6, Article 8 or Article 9.
Statement of Net Assets
As at 31 March 2022
Jupiter Jupiter Jupiter Jupiter
Asia Pacific Dynamic Dynamic European
Income Bond Bond ESG Growth
USD EUR EUR EUR
Assets
Investments in securities at cost 9,330,496 8,914,926,812 157,420,826 968,419,358
Unrealised gain/(loss) 1,503,832 ( 306,328,423) ( 3,596,657) 265,146,645
Investments in securities at market value 10,834,328 8,608,598,389 153,824,169 1,233,566,003
Cash at bank and at brokers 140,045 172,582,904 5,957,007 20,760,067
Receivables on subscriptions 28,872 13,808,730 1,348,673 1,010,198
Receivables on investments sold – 10,050,066 – –
Dividends receivable 28,359 – – 116,256
Interest receivable – 115,382,927 2,029,691 –
Tax reclaims receivable 6,833 31,992 – 4,502,009
Management fee rebates – 403,358 – –
Options contracts purchased at market value – – 47,750 –
Unrealised gain on financial future contracts – – – –
Unrealised gain on forward currency exchange contracts 3,461 58,832,316 628,338 93,737
Unrealised gain on contracts for difference – – – –
Unrealised gain on swap contracts – – – –
Other assets – – – –
Total assets 11,041,898 8,979,690,682 163,835,628 1,260,048,270
Liabilities
Bank overdrafts – 43,361,615 – –
Due to brokers – 179,150,000 209,058 7,700,000
Payables on redemptions 713 23,193,968 5,527 1,092,165
Payables on investments purchased – 7,359,083 600,000 –
Interest payable – – – –
Dividend distributions payable 63,072 32,846,128 – –
Management fees payable 17,586 11,820,154 95,010 2,229,012
Unrealised loss on financial future contracts – 1,355,405 91,885 –
Unrealised loss on forward currency exchange contracts 175 19,060,054 243,510 1,124,951
Unrealised loss on contracts for difference – – – –
Unrealised loss on swap contracts – – – –
Other liabilities 30,776 2,902,282 29,757 1,265,662
Total liabilities 112,322 321,048,689 1,274,747 13,411,790
Total net assets 10,929,576 8,658,641,993 162,560,881 1,246,636,480
The accompanying notes form an integral part of these financial statements.
9
Statement of Net Assets (continued)
As at 31 March 2022
Europe ex-UK Financial Flexible Flexible
Equity Innovation Income Macro (LUX)
EUR EUR EUR EUR
Assets
Investments in securities at cost 20,867,857 76,470,024 66,797,505 11,267,818
Unrealised gain/(loss) 3,343,539 1,946,059 2,903,397 1,665,591
Investments in securities at market value 24,211,396 78,416,083 69,700,902 12,933,409
Cash at bank and at brokers 761,591 16,926,469 5,805,832 1,355,300
Receivables on subscriptions – 626,125 – –
Receivables on investments sold 47,597 2,247,866 18,800 139,147
Dividends receivable 1,668 280,620 118,270 8,957
Interest receivable – – 540,041 5,665
Tax reclaims receivable 6,653 88,840 16,716 2,328
Management fee rebates – – 7,179 4,036
Options contracts purchased at market value – – 103,308 20,662
Unrealised gain on financial future contracts – – 634,667 55,366
Unrealised gain on forward currency exchange contracts – 2,244 278,964 90,025
Unrealised gain on contracts for difference – 1,462,686 – –
Total assets 25,028,905 100,050,933 77,224,679 14,614,895
Liabilities
Bank overdrafts – 4,875 82,977 –
Due to brokers – 7,235,425 1,012,401 211,136
Payables on redemptions 206,003 26,336 30,032 237
Payables on investments purchased 15,624 164,628 13,095 –
Dividend distributions payable – – 58,328 –
Management fees payable 29,163 219,580 77,239 14,957
Unrealised loss on financial future contracts – – 1,192,577 303,768
Unrealised loss on forward currency exchange contracts – 33,290 168,455 54,248
Unrealised loss on contracts for difference – 63,322 – –
Other liabilities 6,222 33,428 20,117 4,510
Total liabilities 257,012 7,780,884 2,655,221 588,856
Total net assets 24,771,893 92,270,049 74,569,458 14,026,039
As at 31 March 2022
Jupiter Jupiter Jupiter
Jupiter Global Global Global
Global Ecology Ecology Ecology
Convertibles Bond Diversified Growth
EUR EUR EUR EUR
Assets
Unrealised gain/(loss) 25,126,694 ( 657,779) 628,183 4,913,222
Cash at bank and at brokers 24,763,059 709,789 3,674,061 722,605
Receivables on subscriptions 578,747 – 54,024 32,588
Receivables on investments sold – – – –
Dividends receivable – – 13,797 14,771
Interest receivable 625,677 113,319 191,569 –
Tax reclaims receivable 70,356 – 8,493 12,233
Management fee rebates – – – –
Options contracts purchased at market value – – – –
Unrealised gain on financial future contracts – – – –
Unrealised gain on forward currency exchange contracts 2,845,993 58,591 166,522 –
Total assets 421,528,793 17,068,365 49,667,245 21,832,117
Liabilities
Bank overdrafts – – – –
Due to brokers 9,650,000 – 660,000 –
Payables on redemptions 247,257 – 232 41,903
Payables on investments purchased 2,587,154 – – –
Dividend distributions payable – – 28,482 –
Unrealised loss on financial future contracts 293,118 – – –
Unrealised loss on forward currency exchange contracts 1,264,967 10,677 197,134 –
Total liabilities 14,682,205 22,533 966,373 99,812
Total net assets 406,846,588 17,045,832 48,700,872 21,732,305
11
As at 31 March 2022
Jupiter
Jupiter Global
Global Emerging
Emerging Markets Jupiter Jupiter
Markets Short Global Equity Global
Corporate Duration Growth High Yield
Bond Bond Unconstrained Bond
USD USD USD EUR
Assets
Unrealised gain/(loss) ( 20,762,378) ( 18,790,346) ( 10,442,248) ( 1,540,157)
Cash at bank and at brokers 7,660,471 14,197,850 4,261,399 3,746,538
Receivables on subscriptions 2,764,338 59,660 14,452 100
Receivables on investments sold 2,300,553 827,674 – –
Dividends receivable – – 177,733 –
Interest receivable 4,618,445 4,467,877 – 857,600
Tax reclaims receivable – – – –
Options contracts purchased at market value – – – –
Unrealised gain on financial future contracts 28,675 34,275 – 188,945
Unrealised gain on forward currency exchange contracts 297,867 853,104 262 130,047
Total assets 300,200,066 303,128,653 260,215,941 51,516,082
Liabilities
Bank overdrafts – – – –
Due to brokers – 6,940,038 – 780,190
Payables on redemptions 209,297 781,476 141 –
Payables on investments purchased 4,286,963 1,456,306 – 425,773
Dividend distributions payable 29,181 583,227 – 16,047
Unrealised loss on forward currency exchange contracts 47,163 110,912 51 225,236
Total liabilities 4,976,834 10,244,775 280,060 1,505,503
Total net assets 295,223,232 292,883,878 259,935,881 50,010,579
As at 31 March 2022
Jupiter Jupiter
Global Global Jupiter
Sovereign Sustainable Jupiter India
Opportunities Equities (LUX) Global Value Select
USD USD USD USD
Assets
Unrealised gain/(loss) ( 2,497,898) ( 2,173,637) 7,522,986 34,000,296
Cash at bank and at brokers 7,510,899 314,954 1,800,536 7,232,349
Receivables on subscriptions – 54 24,702 19,943
Receivables on investments sold 860,585 – – 133,960
Dividends receivable – 12,316 1,230,285 9,904
Interest receivable 509,824 – – –
Tax reclaims receivable 744 770 563,745 –
Options contracts purchased at market value 31,563 – – –
Unrealised gain on financial future contracts 286,092 – – –
Unrealised gain on forward currency exchange contracts 282,093 – – –
Unrealised gain on swap contracts 466,276 – – –
Other assets – – – 1,558
Total assets 58,411,434 13,833,281 399,169,269 163,619,835
Liabilities
Bank overdrafts 4,991,932 – 136,763 1
Due to brokers 1,265,280 – – –
Payables on redemptions – – 6,872 230,870
Payables on investments purchased 615,766 172,271 – –
Interest payable 7,095 – – –
Dividend distributions payable – – – –
Unrealised loss on forward currency exchange contracts 334,476 – – –
Unrealised loss on swap contracts 443,914 – – –
Total liabilities 7,844,534 214,743 784,549 553,009
Total net assets 50,566,900 13,618,538 398,384,720 163,066,826
13
As at 31 March 2022
Jupiter
Jupiter Pan European
Japan Smaller
Select Companies Combined
USD EUR EUR
Assets
Investments in securities at cost 223,825,242 198,015,987 12,422,795,532
Unrealised gain/(loss) ( 3,834,304) ( 438,423) ( 20,834,030)
Investments in securities at market value 219,990,938 197,577,564 12,401,961,502
Cash at bank and at brokers 3,191,178 1,102,326 300,604,901
Receivables on subscriptions 46,466 30,319,427 50,444,996
Receivables on investments sold – 336,812 16,556,002
Dividends receivable 2,232,440 31,147 3,912,093
Interest receivable – – 128,395,172
Tax reclaims receivable – 62,299 5,317,526
Management fee rebates – – 414,573
Options contracts purchased at market value – – 200,167
Unrealised gain on financial future contracts – – 1,193,558
Unrealised gain on forward currency exchange contracts 5,434 121 64,426,723
Unrealised gain on contracts for difference – – 1,462,686
Unrealised gain on swap contracts – – 420,239
Other assets – – 1,404
Total assets 225,466,456 229,429,696 12,975,311,542
Liabilities
Bank overdrafts – – 48,071,788
Due to brokers – – 214,003,386
Payables on redemptions 11,993 5,662 25,968,120
Payables on investments purchased 469,533 23,799,080 41,274,057
Interest payable – – 6,394
Dividend distributions payable – – 33,557,772
Management fees payable 436,807 234,751 17,372,783
Unrealised loss on financial future contracts – – 3,364,281
Unrealised loss on forward currency exchange contracts 118 1,446 22,828,198
Unrealised loss on contracts for difference – – 63,322
Unrealised loss on swap contracts – – 400,085
Other liabilities 74,919 50,086 4,911,168
Total liabilities 993,370 24,091,025 411,821,354
Total net assets 224,473,086 205,338,671 12,563,490,188
Statement of Operations and Changes in Net Assets

Asia Pacific Dynamic Dynamic European
Income Bond Bond ESG Growth
USD EUR EUR EUR
Net assets at the beginning of the period 9,584,253 9,996,084,887 – 1,482,924,094
Income
Dividend income, net of withholding taxes 189,319 1,081,140 – 4,076,189
Interest income from investments, net of withholding taxes – 211,823,671 959,270 –
Interest income on swap contracts – – – –
Bank interest – – – 406
Management fee rebates – 400,558 – –
Other income – 541,632 4 144
Total income 189,319 213,847,001 959,274 4,076,739
Expenses
Management fees 51,354 38,781,169 103,191 7,797,180
Bank and other interest expenses 26 626,602 10,022 85,142
Interest expense on swap contracts – – – –
Interest expense on contracts for difference – – – –
Aggregate operating fee 10,996 8,281,537 32,351 1,383,538
Total expenses 62,376 47,689,308 145,564 9,265,860
Net investment gain/(loss) 126,943 166,157,693 813,710 (5,189,121)
Net realised gain/(loss) on:
Sale of investments 101,097 103,756,441 (55,809) 65,714,665
Option contracts – – (154) –
Financial future contracts – 6,632,973 (17,673) –
Forward currency exchange contracts (13,163) (170,077,168) (1,516,777) 19,121,831
Swap contracts – – – –
Currency exchange (295) (10,647,168) (701,431) 18,533
Net realised gain/(loss) for the period 87,639 (70,334,922) (2,291,844) 84,855,029
Net change in unrealised appreciation/(depreciation) on:
Investments 505,718 (478,726,845) (3,596,657) (162,185,365)
Option contracts – – 608 –
Financial future contracts – (1,355,405) (91,885) –
Forward currency exchange contracts 17,832 6,781,632 384,828 (6,382,107)
Contracts for difference – – – –
Currency exchange (277) 320,746 (1) 7,242
Net change in unrealised appreciation/(depreciation)
523,273 (472,979,872) (3,303,107) (168,560,230)
for the period
Increase/(decrease) in net assets as a result of operations 737,855 (377,157,101) (4,781,241) (88,894,322)
Subscriptions 2,005,585 1,534,614,065 168,413,474 136,783,833
Redemptions (1,274,250) (2,409,886,393) (1,071,352) (284,177,125)
Increase/(decrease) in net assets as a result of movements
731,335 (875,272,328) 167,342,122 (147,393,292)
in share capital
Dividend distributions (123,867) (85,013,465) – –
Foreign currency translation difference
Net assets at the end of the period 10,929,576 8,658,641,993 162,560,881 1,246,636,480
15
Statement of Operations and Changes in Net Assets (continued)

Europe ex-UK Financial Flexible Flexible
Equity Innovation Income Macro (LUX)
EUR EUR EUR EUR
Net assets at the beginning of the period 23,323,415 92,755,584 78,787,983 14,503,887
Income
Dividend income, net of withholding taxes 74,178 1,175,858 552,596 56,995
Interest income from investments, net of withholding taxes – – 1,059,992 7,103
Bank interest – 1,704 918 313
Management fee rebates – – 7,111 4,037
Other income 4 94 2,853 447
Total income 74,182 1,177,656 1,623,470 68,895
Expenses
Management fees 93,832 693,069 253,701 47,859
Bank and other interest expenses 4,080 10,860 35,300 8,612
Interest expense on contracts for difference – 24,239 – –
Aggregate operating fee 20,021 105,459 67,340 14,430
Total expenses 117,933 833,627 356,341 70,901
Net investment gain/(loss) (43,751) 344,029 1,267,129 (2,006)
Sale of investments (78,425) (7,574,322) 1,550,382 578,316
Option contracts – – (328,383) 23,581
Financial future contracts – (6,494,202) (6,161,911) (893,976)
Forward currency exchange contracts – 403,248 251,374 (48,615)
Currency exchange (1,509) 143,749 (122,111) (52,855)
Net realised gain/(loss) for the period (79,934) (13,521,527) (4,810,649) (393,549)
Investments (827,518) (6,590,661) (1,930,435) 303,670
Option contracts – – 59,112 8,302
Financial future contracts – – (557,727) (344,741)
Forward currency exchange contracts – (139,750) 38,280 61,184
Contracts for difference – 2,013,360 – –
Currency exchange (2) (35,324) (127,314) (24,460)
(827,520) (4,752,375) (2,518,084) 3,955
for the period
Increase/(decrease) in net assets as a result of operations (951,205) (17,929,873) (6,061,604) (391,600)
Subscriptions 2,806,543 35,692,646 5,496,195 175,961
Redemptions (406,860) (18,248,308) (3,522,103) (260,535)
2,399,683 17,444,338 1,974,092 (84,574)
in share capital
Dividend distributions – – (131,013) (1,674)
Net assets at the end of the period 24,771,893 92,270,049 74,569,458 14,026,039

Jupiter Jupiter Jupiter
Jupiter Global Global Global
Global Ecology Ecology Ecology
Convertibles Bond Diversified Growth
EUR EUR EUR EUR
Net assets at the beginning of the period 440,230,628 – 44,212,902 16,976,236
Income
Dividend income, net of withholding taxes – – 74,937 65,250
Interest income from investments, net of withholding taxes 175,548,245 79,580 293,400 –
Bank interest – – – 7
Other income 4 1 261 788
Total income 175,548,249 79,581 368,598 66,045
Expenses
Management fees 1,672,783 9,506 204,310 153,997
Bank and other interest expenses 53,093 5,962 12,845 1,469
Total expenses 2,085,683 20,310 264,645 178,371
Net investment gain/(loss) 173,462,566 59,271 103,953 (112,326)
Sale of investments 12,289,978 (112,559) 1,598,326 527,906
Option contracts – – – –
Financial future contracts 190,457 – 53,089 –
Forward currency exchange contracts (7,471,221) (255,764) (1,052,244) (315)
Currency exchange 4,955,649 5,157 (37,397) 13,152
Net realised gain/(loss) for the period 9,964,863 (363,166) 561,774 540,743
Investments (23,511,901) (657,779) (3,627,370) (1,558,019)
Financial future contracts (352,464) – (116,108) –
Forward currency exchange contracts 3,701,283 47,914 377,699 (5)
Currency exchange (174,294,884) (1) 737 (2)
(194,457,966) (609,866) (3,365,042) (1,558,026)
for the period
Increase/(decrease) in net assets as a result of operations (11,030,537) (913,761) (2,699,315) (1,129,609)
Subscriptions 50,219,026 17,959,593 10,758,187 8,283,589
Redemptions (72,572,529) – (3,513,990) (2,397,911)
(22,353,503) 17,959,593 7,244,197 5,885,678
in share capital
Dividend distributions – – (56,912) –
17

Jupiter Jupiter
Global Global
Emerging Emerging Jupiter
Markets Markets Short Global Equity Jupiter
Corporate Duration Growth Global High
Bond Bond Unconstrained Yield Bond
USD USD USD EUR
Income
Dividend income, net of withholding taxes – – 735,267 –
Interest income from investments, net of withholding taxes 8,917,369 7,945,462 – 1,137,183
Bank interest 5 – 196 230
Other income 22 39 46 752
Total income 8,917,396 7,945,501 735,509 1,138,165
Expenses
Management fees 1,075,425 927,717 662,910 98,281
Bank and other interest expenses 339 142 8,619 10,682
Total expenses 1,302,021 1,151,022 875,298 137,363
Net investment gain/(loss) 7,615,375 6,794,479 (139,789) 1,000,802
Sale of investments (10,846,093) (9,947,965) (744,466) 689,002
Financial future contracts 806,651 411,429 – (95,802)
Forward currency exchange contracts (1,293,946) (12,678,531) (10,833) (665,336)
Swap contracts 75,258 58,197 – –
Currency exchange (87,727) 108,597 (1,606) (248,597)
Net realised gain/(loss) for the period (11,345,857) (22,048,273) (756,905) (320,733)
Investments (25,168,120) (20,819,591) (13,780,945) (2,090,178)
Financial future contracts 21,308 34,275 – 188,945
Forward currency exchange contracts 719,137 5,097,602 9,461 (34,858)
Currency exchange (318) 19,910 (3,269) (13,149)
(24,427,993) (15,667,804) (13,774,753) (1,949,240)
for the period
Increase/(decrease) in net assets as a result of operations (28,158,475) (30,921,598) (14,671,447) (1,269,171)
Subscriptions 36,852,822 86,947,896 49,189,577 32,350,615
Redemptions (39,518,397) (77,424,791) (2,336,318) (5,360,371)
(2,665,575) 9,523,105 46,853,259 26,990,244
in share capital
Dividend distributions (75,880) (1,109,511) – (32,708)

Jupiter Jupiter
Global Global Jupiter
Sovereign Sustainable Jupiter India
Opportunities Equities (LUX) Global Value Select
USD USD USD USD
Income
Dividend income, net of withholding taxes – 63,730 4,354,698 436,388
Interest income from investments, net of withholding taxes 735,367 – – –
Interest income on swap contracts 45,031 – – –
Bank interest 5,741 3 – –
Other income 96 1,551 90 2,363
Total income 786,235 65,284 4,354,788 438,751
Expenses
Management fees 125,027 74,994 1,674,062 873,355
Bank and other interest expenses 14,467 21 688 1,152
Interest expense on swap contracts 21,096 – – –
Total expenses 199,300 88,697 2,028,189 1,049,354
Net investment gain/(loss) 586,935 (23,413) 2,326,599 (610,603)
Sale of investments (37,919) 158 341,492 3,880,418
Option contracts (330) – – –
Financial future contracts 153,785 – – –
Forward currency exchange contracts 342,071 1 508 50
Swap contracts 1,260,745 – – –
Currency exchange (26,013) 597 23 (140,959)
Net realised gain/(loss) for the period 1,692,339 756 342,023 3,739,509
Investments (2,102,574) (1,321,289) (6,229,030) (9,872,345)
Option contracts (4,688) – – –
Financial future contracts 141,757 – – –
Forward currency exchange contracts (506,547) – – (78)
Swap contracts 205,654 – – –
Currency exchange (18,564) 2 962 (1,446)
(2,284,962) (1,321,287) (6,228,068) (9,873,869)
for the period
Increase/(decrease) in net assets as a result of operations (5,688) (1,343,944) (3,559,446) (6,744,963)
Subscriptions 163,851 2,364,627 10,496,847 6,434,243
Redemptions – (259,877) (57,254,348) (9,215,050)
163,851 2,104,750 (46,757,501) (2,780,807)
in share capital
Dividend distributions – – – –
19

Jupiter
Jupiter Pan European
Japan Smaller
Select Companies Combined
USD EUR EUR
Net assets at the beginning of the period 215,141,289 235,179,513 13,986,381,483
Income
Dividend income, net of withholding taxes 2,647,215 893,758 15,645,527
Interest income from investments, net of withholding taxes – – 406,769,106
Interest income on swap contracts – – 40,585
Bank interest 254 – 9,165
Management fee rebates – – 411,706
Other income 31 4,784 555,588
Total income 2,647,500 898,542 423,431,677
Expenses
Management fees 1,412,946 872,105 56,979,703
Bank and other interest expenses 10,220 17,582 914,403
Interest expense on swap contracts – – 19,013
Interest expense on contracts for difference – – 24,239
Aggregate operating fee 237,927 186,117 11,890,626
Total expenses 1,661,093 1,075,804 69,827,984
Net investment gain/(loss) 986,407 (177,262) 353,603,693
Sale of investments 4,538,506 504,210 167,928,716
Option contracts – – (305,253)
Financial future contracts – – (5,550,629)
Forward currency exchange contracts (4,286) 14,626 (173,605,972)
Swap contracts – – 1,256,545
Currency exchange 20,266 (51,054) (6,840,448)
Net realised gain/(loss) for the period 4,554,486 467,782 (17,117,041)
Investments (40,081,132) (41,821,811) (833,953,768)
Option contracts – – 63,797
Financial future contracts – – (2,451,529)
Forward currency exchange contracts 5,067 (4,914) 9,646,178
Contracts for difference – – 2,013,360
Swap contracts – – 185,349
Currency exchange 14,532 (133) (174,156,152)
(40,061,533) (41,826,858) (998,652,765)
for the period
Increase/(decrease) in net assets as a result of operations (34,520,640) (41,536,338) (662,166,113)
Subscriptions 192,159,806 52,521,268 2,404,518,286
Redemptions (148,307,369) (40,825,772) (3,144,699,560)
Increase/(decrease) in net assets as a result of movements 43,852,437 11,695,496 (740,181,274)
in share capital
Dividend distributions – – (86,415,762)
Foreign currency translation difference 65,871,854
Net assets at the end of the period 224,473,086 205,338,671 12,563,490,188
Statistical Information

Shares NAV per Share NAV per Share NAV per Share
outstanding as at as at as at
as at 31 March 30 September 30 September
31 March 2022 2021 2020
2022 (in class currency) (in class currency) (in class currency)
Jupiter Asia Pacific Income*
Class A USD Acc* 5,000 13.53 12.62 10.18
Class C USD Acc* 6,700 13.81 12.84 10.28
Class D EUR Q Inc Dist* 140,622 12.70 11.51 9.43
Class D GBP Acc* 95,723 17.69 16.03 13.40
Class D USD Acc* 51,503 14.01 13.00 10.37
Class D USD Q Inc Dist* 218,320 13.81 13.05 10.82
Class L EUR Q Inc Dist* 31,637 12.30 11.19 9.24
Class L GBP Q Inc* 11,053 20.65 19.14 16.75
Class L SGD Q Inc Dist HSC* 101,580 12.02 11.41 9.57
Class L USD Acc* 26,889 39.62 36.89 29.68
Class L USD Q Inc Dist* 5,000 12.65 12.00 10.03
Class N USD Acc* 5,000 13.35 12.47 10.09
Total net assets in USD 10,929,576 9,584,253 11,668,718
Jupiter Dynamic Bond

Class A USD Acc* 55,049 8.53 9.48 –
Class A USD Acc HSC* 4,080,337 10.89 11.57 11.31
Class A USD Q Inc Dist HSC* 585,945 9.17 9.97 10.15
Class C USD Acc HSC* 45,000 11.34 12.00 11.66
Class C USD Q Inc HSC* 6,704 9.78 10.60 10.72
Class D CHF Acc HSC 3,864,426 11.34 12.04 11.77
Class D CHF Q Inc HSC 1,348,813 8.47 9.20 9.37
Class D EUR Acc 51,478,349 13.11 13.90 13.54
Class D EUR Q Inc 10,533,704 9.04 9.81 9.96
Class D EUR Q Inc Dist 10,748,264 8.76 9.51 9.65
Class D GBP Acc HSC 7,382,640 13.98 14.77 14.30
Class D GBP Q Inc HSC 10,802,119 9.68 10.47 10.56
Class D SEK Acc HSC* – – 107.94 104.83
Class D USD Acc* 12,700 8.64 9.55 –
Class D USD Acc HSC 27,842,521 14.59 15.41 14.89
Class D USD M Inc HSC 5,457,576 10.12 10.93 11.01
Class D USD Q Inc HSC 8,603,624 10.21 11.03 11.11
Class D USD Q Inc IRD HSC 93,040 89.88 97.73 99.10
Class I CHF Acc HSC 1,377,186 10.41 11.06 10.80
Class I CHF Q Inc HSC 1,806,290 9.37 10.18 10.36
Class I EUR Acc 156,876,497 13.72 14.55 14.16
Class I EUR M Inc Dist* 248,731 9.28 10.06 –
Class I EUR Q Inc 39,248,393 9.90 10.74 10.90
Class I GBP Q Inc HSC 22,979,595 10.54 11.39 11.49
Class I SGD M Inc HSC 1,043,656 98.42 106.26 107.02
Class I USD Acc HSC 30,720,884 12.59 13.29 12.84
Class I USD Q Inc HSC 32,019,976 11.08 11.97 12.05
*This Fund/Share Class is not authorised in Hong Kong and not available to Hong Kong residents.
21
Statistical Information (continued)

31 March 2022 2021 2020
Jupiter Dynamic Bond (continued)
Class L AUD Acc HSC 2,238,532 24.98 26.52 25.89
Class L AUD M Inc HSC 3,264,786 19.31 20.97 21.33
Class L AUD M Inc IRD HSC 294,354 88.26 96.11 98.37
Class L CAD M Inc Dist IRD HSC 33,486 93.71 102.07 104.37
Class L CHF Acc HSC 3,228,940 11.48 12.24 12.05
Class L CHF Q Inc HSC 882,514 9.13 9.95 10.22
Class L CNH Acc HSC* 214,104 137.08 143.56 136.32
Class L CNH M Inc IRD HSC* 431,758 93.92 102.31 104.36
Class L EUR Acc 68,435,296 12.00 12.77 12.54
Class L EUR Q Inc 29,623,802 9.52 10.37 10.61
Class L EUR Q Inc Dist 29,350,024 8.62 9.39 9.61
Class L GBP Acc HSC 1,379,503 10.80 11.46 11.18
Class L GBP Q Inc HSC 5,739,485 10.12 10.98 11.17
Class L HKD Acc HSC 42,425 110.23 116.91 113.88
Class L HKD M Inc Dist HSC 1,737,157 94.26 102.25 103.87
Class L HKD M Inc IRD HSC 173,875 89.04 96.97 99.19
Class L JPY Acc HSC* 765 9,319.61 9,903.00 –
Class L SEK Acc HSC 2,350,223 110.53 117.49 114.97
Class L SGD Acc HSC 2,294,178 12.62 13.38 13.03
Class L SGD M Inc HSC 17,764,018 9.53 10.34 10.49
Class L SGD M Inc IRD HSC 743,090 88.48 96.38 98.62
Class L USD Acc* 53,265 8.56 9.51 –
Class L USD Acc HSC 45,911,906 13.51 14.33 13.95
Class L USD M Inc HSC 43,112,214 9.63 10.45 10.60
Class L USD M Inc IRD HSC 4,269,585 88.71 96.59 98.82
Class L USD Q Inc HSC 24,077,343 10.63 11.53 11.69
Class N USD Acc* 136 8.49 9.46 –
Class N USD Acc HSC* 2,512,514 10.77 11.45 11.22
Class N USD Q Inc Dist HSC* 66,801 9.07 9.87 10.08
Total net assets in EUR 8,658,641,993 9,996,084,887 9,084,840,640
Jupiter Dynamic Bond ESG*^

Class D CHF Acc HSC*^ 99,593 98.29 – –
Class D EUR Acc* 124,982 96.26 – –
Class D EUR Q Inc Dist*^ 12 98.32 – –
Class D GBP Acc HSC* 536 96.38 – –
Class D USD Acc HSC* 8,714 96.37 – –
Class I EUR Acc* 1,111,411 96.25 – –
Class I EUR Q Inc*^ 12 98.34 – –
Class I SEK Acc HSC*^ 6,093 100.11 – –
Class L EUR Acc* 10 96.11 – –
Class L EUR Q Inc Dist* 10 96.11 – –
Class L SEK Acc HSC* 6,224 96.17 – –
Class X GBP Acc HSC* 290,000 96.42 – –
Total net assets in EUR 162,560,881 – –
^This Fund/Share Class launched during the period.

31 March 2022 2021 2020
Jupiter European Growth
Class A EUR Acc* 2,338 10.71 11.55 –
Class A USD Acc* 15,449 9.70 10.91 –
Class A USD Acc HSC* 545,788 12.82 13.74 11.10
Class D EUR A Inc Dist 747,939 20.99 22.53 18.20
Class D EUR Acc 3,572,094 22.39 24.03 19.40
Class D GBP Acc 602,044 23.89 26.13 22.35
Class D USD Acc* – – 11.00 –
Class D USD Acc HSC 5,109,221 24.99 26.64 21.31
Class E USD Acc* 100 10.20 11.48 –
Class I EUR Acc 7,124,579 61.31 65.80 53.09
Class L EUR A Inc Dist 1,538,977 20.58 22.18 18.04
Class L EUR Acc 8,171,894 45.47 49.00 39.86
Class L GBP A Inc 744,206 40.33 44.28 38.16
Class L HKD Acc HSC 7,079 150.35 160.96 129.84
Class L SGD Acc HSC* 4,421,889 12.10 12.97 10.48
Class L USD Acc* 15 10.24 11.51 –
Class L USD Acc HSC 3,835,391 25.22 26.99 21.75
Class N EUR Acc* 5,948 10.67 11.53 –
Class N USD Acc* 136 9.65 10.89 –
Class N USD Acc HSC* 1,205,097 12.68 13.61 11.04
Total net assets in EUR 1,246,636,480 1,482,924,094 1,401,335,679
Jupiter Europe ex-UK Equity*

Class I EUR Acc* 95,232 132.02 136.68 107.98
Class I GBP Acc* 83,620 123.33 130.10 108.90
Total net assets in EUR 24,771,893 23,323,415 5,957,639
Jupiter Financial Innovation

Class A USD Acc HSC* 6,977 9.25 11.12 –
Class D EUR Acc 130,328 14.89 17.94 13.60
Class D GBP Acc 36,751 20.67 25.38 20.38
Class D USD Acc 274,510 16.80 21.11 16.19
Class D USD Acc HSC* 6,800 9.47 11.32 –
Class L EUR Acc 795,258 21.12 25.54 19.51
Class L GBP A Inc 198,505 22.67 27.94 22.61
Class L USD Acc 4,115,181 15.25 19.23 14.87
Class L USD Acc HSC 425,178 16.73 20.09 15.20
Class N USD Acc* 140 8.34 10.55 –
Class N USD Acc HSC* 6,977 9.22 11.10 –
23

31 March 2022 2021 2020
Jupiter Flexible Income*
Class A USD Acc HSC* 507 97.67 105.81 92.92
Class C USD Acc HSC* 507 98.62 106.64 93.34
Class D EUR Acc* 36,396 98.00 106.18 93.26
Class D EUR Q Inc* 120 90.29 99.98 91.69
Class D EUR Q Inc Dist* 459 85.18 94.31 86.49
Class D USD Acc HSC* 535 100.98 108.92 94.86
Class D USD Q Inc IRD HSC* 607 88.14 97.60 89.43
Class F EUR Acc* 43,450 107.73 116.60 102.22
Class I EUR Acc* 497,287 105.59 114.37 100.42
Class I EUR Q Inc* 50,000 89.93 99.56 91.26
Class I GBP Acc HSC* 36,037 92.88 100.31 –
Class L AUD M Inc IRD HSC* 902 85.42 95.10 88.11
Class L EUR Acc* 40,658 102.98 111.94 98.98
Class L EUR Q Inc Dist* 7,087 83.67 92.96 85.82
Class L SGD M Inc IRD HSC* 843 86.36 96.06 88.77
Class L USD Acc HSC* 996 99.37 107.55 94.30
Class L USD M Inc HSC* 523 92.51 102.38 93.71
Class L USD M Inc IRD HSC* 607 86.89 96.58 89.10
Class N USD Acc HSC* 698 97.11 105.31 92.72
Jupiter Flexible Macro (LUX)*

Class D EUR Acc* 53,999 108.22 111.99 101.41
Class D GBP Acc HSC* 16,635 106.67 110.01 99.21
Class D USD Acc HSC* 12,090 112.07 115.47 103.64
Class F EUR Acc* 10,917 108.75 112.44 101.63
Class I EUR Acc* 10,917 108.33 112.08 101.46
Class L EUR Acc* 12,341 106.34 110.42 100.66
Jupiter Global Convertibles

Class A USD Acc HSC* 5,000 11.04 11.67 10.38
Class D EUR A Inc 412,115 10.29 10.87 9.80
Class D EUR Acc 594,349 12.36 13.06 11.60
Class D GBP A Inc HSC 2,961,018 11.71 12.33 11.05
Class D USD A Inc HSC 2,242,806 11.37 11.95 10.67
Class I CHF Acc HSC 9,936,017 13.97 14.78 13.16
Class I EUR Acc 7,038,971 14.90 15.74 13.97
Class I EUR Q Inc Dist* – – 10.39 9.37
Class I GBP A Inc HSC 1,682,191 13.14 13.83 12.40
Class I USD Acc HSC 2,602,584 16.49 17.32 15.24
Class L CHF Acc HSC 214,844 12.71 13.50 12.12
Class L EUR Acc 1,513,052 13.56 14.39 12.87
Class L GBP A Inc HSC 13,842 12.75 13.47 12.08
Class L USD Acc HSC 202,557 15.00 15.83 14.04
Class N USD Acc HSC* 7,120 10.90 11.53 10.29

31 March 2022 2021 2020
Jupiter Global Ecology Bond*^
Class D EUR Acc* 6,000 94.91 – –
Class D GBP Acc HSC* 4,610 95.06 – –
Class G EUR Acc* 78,000 94.94 – –
Class G GBP Acc HSC* 5,000 95.10 – –
Class I EUR Acc* 78,000 94.91 – –
Class I USD Acc HSC* 6,850 95.04 – –
Total net assets in EUR 17,045,832 – –
Jupiter Global Ecology Diversified*

Class D EUR Acc* 185,542 9.63 10.27 –
Class D GBP Acc HSC* 1,276,082 12.58 13.37 12.24
Class D GBP Q Inc Dist HSC* 89,201 11.27 12.07 11.26
Class I EUR Acc* 333,178 12.42 13.24 12.18
Class I GBP Acc HSC* 105,982 12.61 13.39 12.26
Class I GBP Q Inc Dist HSC* 409,650 11.61 12.43 11.59
Class L EUR Acc* 1,287,554 11.95 12.79 11.84
Jupiter Global Ecology Growth

Class D EUR Acc* 115 10.54 10.83 –
Class D EUR A Inc Dist 27,009 18.67 19.18 14.01
Class L EUR A Inc Dist 42,918 18.05 18.64 13.70
Class L EUR Acc 576,574 21.56 22.26 16.37
Class L GBP A Inc 110,039 19.91 20.94 16.31
Class L USD Acc 387,351 15.55 16.74 12.46
Jupiter Global Emerging Markets Corporate Bond*

Class A USD Acc* 18,386 100.81 110.60 103.58
Class A USD Q Inc Dist* 11 96.52 109.06 107.67
Class C USD Acc* 2,322 102.44 112.01 104.23
Class D EUR Acc HSC* 58,108 97.89 107.41 100.44
Class D GBP A Inc HSC*^ 500 92.48 – –
Class D USD Acc* 16,297 104.01 113.53 105.25
Class D USD M Inc Dist* 9,186 88.21 99.09 –
Class I CHF Acc HSC* 650 91.35 100.29 –
Class I EUR Acc HSC* 82,710 95.92 105.23 98.36
Class I USD Acc* 2,058,317 120.78 131.81 122.14
Class I USD A Inc Dist* 171,250 92.37 100.80 98.57
Class L EUR Acc HSC* 5,820 9.14 10.07 –
Class L SEK Acc HSC* 414,219 91.50 100.58 –
Class L USD Acc* 42,021 100.24 109.83 102.59
Class L USD Q Inc Dist* 15,412 92.09 103.89 102.36
Class N USD Acc* 10,323 100.14 110.00 103.28
Class N USD Q Inc Dist* 1,764 96.06 108.65 107.56
25

31 March 2022 2021 2020
Jupiter Global Emerging Markets Short Duration Bond
Class A USD Acc* 80,155 99.00 107.01 101.86
Class A USD Q Inc Dist* 279 94.32 104.73 104.69
Class C USD Acc* 10 100.35 108.20 102.53
Class D EUR Acc HSC 5,129 96.17 103.94 98.78
Class D EUR Q Inc Dist HSC 51,696 86.30 95.83 95.61
Class D USD Acc 15,557 100.39 107.96 101.73
Class D USD M Inc Dist 3,551 88.29 97.50 96.33
Class F EUR Acc HSC* 261,489 103.76 112.08 106.37
Class F GBP Acc HSC* 46,889 107.19 115.33 108.81
Class F USD A Inc* 10,280 94.85 101.93 100.68
Class F USD Acc* 225,445 111.58 119.91 112.82
Class I EUR Acc HSC 864,398 101.68 109.86 104.36
Class I EUR Q Inc Dist HSC 327,668 90.76 100.77 100.49
Class I GBP A Inc HSC 502 90.96 97.92 97.15
Class I USD Acc 548,300 110.55 118.87 111.96
Class I USD A Inc Dist 10 96.87 104.14 102.94
Class L EUR Acc HSC 23,117 95.76 103.79 99.19
Class L EUR Q Inc Dist HSC 22,133 84.48 94.09 94.42
Class L USD Acc 113,655 98.84 106.60 100.96
Class L USD Q Inc Dist 2,369 98.29 108.89 108.29
Class L USD M Inc Dist 12,536 90.80 100.56 99.99
Class N USD Acc* 60,302 98.42 106.49 101.58
Class N USD Q Inc Dist* 4,867 94.02 104.51 104.61
Jupiter Global Equity Growth Unconstrained*

Class A USD Acc* 31 97.21 102.65 –
Class D EUR Acc* 10,447 107.31 108.07 –
Class D EUR Acc HSC* 504 97.05 102.75 –
Class D GBP Acc* 57,942 104.33 107.06 –
Class D USD Acc* 6,966 98.22 103.15 –
Class G EUR Acc* 23 107.61 108.20 –
Class G GBP Acc* 1,455,170 104.61 107.19 –
Class G USD Acc* 279,394 98.48 103.27 –
Class I EUR Acc* 31,715 107.35 108.09 –
Class I USD Acc* 190,260 98.22 103.15 –
Class L EUR Acc* 782 106.55 107.71 –
Class L USD Acc* 1,370 97.52 102.81 –
Class N USD Acc* 11 96.95 102.56 –
Total net assets in USD 259,935,881 227,754,069 –

31 March 2022 2021 2020
Jupiter Global High Yield Bond*
Class D EUR Acc* 111,561 114.92 116.77 102.64
Class D USD Acc HSC* 13,637 118.90 120.27 104.91
Class F EUR Acc* 10,000 115.50 117.24 102.86
Class I EUR Acc* 16,000 115.04 116.87 102.68
Class I GBP Acc HSC*^ 262,044 98.40 – –
Class I GBP Q Inc Dist HSC*^ 500 98.60 – –
Class I USD Acc HSC*^ 679 98.63 – –
Class L EUR Acc* 10,032 113.21 115.36 101.98
Jupiter Global Sovereign Opportunities*

Class A USD Acc* 13 98.44 98.97 100.11
Class D EUR Acc HSC* 560 98.79 99.24 100.21
Class D USD Acc* 13 100.08 100.14 100.35
Class I EUR Acc HSC* 560 98.86 99.29 100.21
Class I GBP Acc HSC* 2,220 100.00 100.04 100.33
Class I USD Acc* 500,000 100.30 100.29 100.39
Class L USD Acc* 13 99.07 99.41 100.23
Class N USD Acc* 13 98.02 98.67 100.11
Jupiter Global Sustainable Equities (LUX)*

Class A USD Acc* 1,000 85.05 93.81 –
Class D EUR A Inc* 10,000 91.23 95.97 –
Class D EUR Acc* 10,000 91.24 95.98 –
Class D USD Acc* 12,431 85.56 93.87 –
Class G EUR Acc* 10,000 91.44 96.00 –
Class G USD Acc* 10,000 85.75 93.89 –
Class I EUR Acc* 10,000 91.26 95.98 –
Class I USD Acc* 33,000 85.58 93.87 –
Class L EUR A Inc* 10,000 90.85 95.94 –
Class L EUR Acc* 10,000 90.85 95.94 –
Class L USD Acc* 10,069 85.20 93.82 –
Class N USD Acc* 20,926 84.91 93.79 –
Class T USD Acc* 1,000 85.66 93.88 –
Total net assets in USD 13,618,538 12,857,732 –
27

31 March 2022 2021 2020
Jupiter Global Value
Class D EUR Acc 1,149,931 12.83 12.29 8.73
Class D GBP Acc 101,622 15.44 15.08 11.35
Class D USD Acc 66,769 11.20 11.19 8.05
Class I GBP Acc 18,323,743 15.05 14.69 11.05
Class I USD Acc* 36,154 120.35 120.21 86.38
Class L EUR Acc 119,572 29.78 28.64 20.51
Class L GBP A Inc 179,435 23.45 22.98 17.58
Class L USD Acc 151,897 22.54 22.60 16.38
Jupiter India Select

Class D EUR Acc 20,776 15.30 15.26 9.51
Class D GBP Acc* 36,726 10.47 10.63 7.02
Class D USD Acc 7,892,239 14.95 15.54 9.80
Class L EUR Acc 285,004 20.52 20.56 12.94
Class L GBP A Inc 86,360 20.64 21.07 14.05
Class L USD A Inc 161,770 218.84 228.69 145.66
Jupiter Japan Select

Class A USD Acc* 130 9.38 11.00 –
Class D EUR Acc 3,949,319 15.42 17.24 13.38
Class D GBP Acc PHSC*^ 500 93.54 – –
Class D GBP S Inc PHSC*^ 500 93.54 – –
Class D USD Acc 820,927 17.73 20.67 16.25
Class I JPY Acc* 64,293 13,821.09 14,835.00 10,995.00
Class L EUR Acc 3,688,526 28.00 31.43 24.59
Class L GBP A Inc 189,837 26.61 30.44 25.34
Class L SEK Acc* 1,204,111 96.98 107.22 –
Class L USD Acc 45,903 22.42 26.24 20.78
Class N USD Acc* 16,580 9.36 10.98 –
Jupiter Pan European Smaller Companies*

Class A USD Acc HSC* 717 121.80 145.13 110.86
Class C USD Acc HSC* 404 123.65 146.79 111.33
Class D EUR Acc* 12,113 121.65 145.26 110.85
Class D GBP Acc HSC* 430 121.75 144.92 110.09
Class F EUR Acc* 41,635 122.26 145.86 111.10
Class I EUR Acc* 1,613,137 121.88 145.52 111.00
Class L EUR Acc* 15,773 119.83 143.65 110.47
Class L USD Acc HSC* 347 122.62 145.87 111.05
Class N USD Acc HSC* 407 121.02 144.41 110.66
Jupiter Asia Pacific Income
Schedule of Investments as at 31 March 2022

Quantity/ Market
Nominal Value % of
Investments Currency Value USD Net Assets
Transferable securities and money market instruments
admitted to an official exchange listing
Equities
Australia
BHP Group Limited AUD 17,000 658,888 6.02
Dexus AUD 44,000 360,844 3.30
Macquarie Group Limited AUD 4,400 669,851 6.13
Newcrest Mining Limited AUD 17,000 340,458 3.12
Suncorp-Metway Limited AUD 53,000 441,401 4.04
Transurban Group AUD 28,000 284,152 2.60
Woodside Petroleum Limited AUD 20,000 480,826 4.40
3,236,420 29.61
Bermuda
Nws Holdings Limited HKD 115,000 105,753 0.97
105,753 0.97
Cayman Islands
Hengan International Group Company Limited HKD 37,000 171,070 1.57
Sands China Limited HKD 79,000 191,507 1.75
Tingyi Cayman Islands Holding Corp. HKD 120,000 202,310 1.85
Want Want China Holdings Limited HKD 270,000 249,669 2.28
814,556 7.45
India
Embassy Office Parks REIT INR 55,000 269,125 2.46
ITC Limited INR 200,000 661,632 6.05
Power Grid Corp. of India Limited INR 140,000 400,602 3.67
1,331,359 12.18
Jersey – Channel Islands
Amcor plc AUD 37,000 424,258 3.88
424,258 3.88
Republic of Korea (South)
Hana Financial Group Inc. KRW 8,000 320,779 2.93
Macquarie Korea Infrastructure Fund KRW 28,000 316,489 2.90
Samsung Electronics Company Limited KRW 11,200 582,154 5.33
1,219,422 11.16
Singapore
DBS Group Holdings Limited SGD 19,000 502,729 4.60
Genting Singapore Limited SGD 250,000 150,464 1.38
Mapletree Logistics Trust SGD 120,000 163,941 1.50
Singapore Technologies Engineering Limited SGD 85,000 258,613 2.37
Singapore Telecommunications SGD 220,000 428,904 3.92
1,504,651 13.77
Taiwan
Hon Hai Precision Industry Company Limited TWD 180,000 665,930 6.09
MediaTek Inc. TWD 18,000 568,554 5.20
Taiwan Semiconductor Manufacturing Company Limited TWD 26,000 541,749 4.96
1,776,233 16.25
29
Schedule of Investments as at 31 March 2022 (continued)

Quantity/ Market
Nominal Value % of
Equities
Thailand
Thai Beverage pcl SGD 280,000 147,842 1.35
147,842 1.35
Total Equities 10,560,494 96.62
Funds
Hong Kong
Link Real Estate Investment Trust HKD 32,000 273,834 2.51
273,834 2.51
Total Funds 273,834 2.51
Total Transferable securities and money market
10,834,328 99.13
instruments admitted to an official exchange listing
Total investments 10,834,328 99.13
Cash 140,045 1.28
Other assets/(liabilities) (44,797) (0.41)
Total net assets 10,929,576 100.00

Forward Currency Exchange Contracts
Unrealised
Currency Amount Currency Amount Maturity Gain/(Loss) % of
Purchased Purchased Sold Sold Date Counterparty USD Net Assets
SGD 1,234,494 USD 908,100 14/04/2022 Citibank 3,461 0.03
Total unrealised gain on forward currency exchange contracts – Assets 3,461 0.03
SGD 25,765 USD 19,029 14/04/2022 Citibank (5) –
USD 19,982 SGD 27,293 14/04/2022 Citibank (170) –
Total unrealised loss on forward currency exchange contracts – Liabilities (175) –
Net unrealised gain on forward currency exchange contracts – Assets 3,286 0.03
31

Quantity/ Market
Nominal Value % of
Investments Currency Value EUR Net Assets
Bonds
Argentina
YPF SA 4.00% 12/02/2026 USD 15,000,000 12,091,050 0.14
12,091,050 0.14
Australia
Australia & New Zealand FRN 30/04/2167 USD 4,670,000 3,411,555 0.04
Australia (Govf of) 4.50% 21/04/2033 AUD 478,400,000 373,024,682 4.31
Australia (Govt of) 1.75% 21/06/2051 AUD 519,007,000 251,574,296 2.91
Westpac Banking Corp. FRN 30/03/2169 USD 6,000,000 4,405,029 0.05
1,024,331,970 11.83
Belgium
House of HR 7.50% 15/01/2027 EUR 4,432,000 4,501,480 0.05
4,501,480 0.05
Bermuda
Digicel Group Holdings Limited 10.00% 01/04/2024 USD 13,000,000 11,728,178 0.14
Gulf Keystone Petroleum Limited 10.00% 25/07/2023 USD 10,000,000 9,243,612 0.11
Lancashire Holdings Limited FRN 18/09/2041 USD 10,409,000 8,782,638 0.10
Latina Offshore Limited 8.88% 15/10/2022 USD 14,746,561 8,439,517 0.10
NCL Corp. Limited 3.63% 15/12/2024 USD 2,700,000 2,284,190 0.03
40,478,135 0.48
Brazil
Brazil (Govt of) 0.00% 01/01/2023 BRL 294,760 55,890,539 0.65
129,149,223 1.49
Bulgaria
Bulgarian Energy Holding EAD 2.45% 22/07/2028 EUR 10,731,000 9,479,330 0.11
Bulgarian Energy Holding EAD 3.50% 28/06/2025 EUR 6,000,000 5,939,964 0.07
15,419,294 0.18
Canada
Bausch Health Cos Inc. 6.13% 15/04/2025 USD 29,926,000 27,207,294 0.31
Baytex Energy Corp. 5.63% 01/06/2024 USD 6,909,000 6,241,686 0.07
Baytex Energy Corp. 8.75% 01/04/2027 USD 10,700,000 10,409,006 0.12
Enbridge Inc. 5.00% 19/01/2082 CAD 6,344,000 4,217,424 0.05
Enbridge Inc. FRN 15/07/2080 USD 7,800,000 7,300,637 0.08
First Quantum Minerals 7.50% 01/04/2025 USD 15,412,000 14,142,078 0.16
First Quantum Minerals Limited 7.25% 01/04/2023 USD 26,475,000 23,869,973 0.28
International Petroleum Corp.Sweden 7.25% 01/02/2027 USD 10,500,000 9,482,852 0.11
102,870,950 1.18
Cayman Islands
Nor Offshore SPV Limited 2.00% 03/06/2022 USD 163,331 14,720 0.00
NSA Bondco Limited 12.00% 31/08/2022 USD 9,727,652 227,947 0.00
Transocean Phoenix 2 Limited 7.75% 15/10/2024 USD 7,000,000 3,195,434 0.04
3,438,101 0.04

Quantity/ Market
Nominal Value % of
Bonds
Chile
Empresa Electrica Cochrane SpA 5.50% 14/05/2027 USD 2,029,000 1,391,438 0.02
1,391,438 0.02
Czech Republic
Energo-Pro AS 4.50% 04/05/2024 EUR 28,294,000 27,055,705 0.31
Energo-Pro AS 8.50% 04/02/2027 USD 7,272,000 6,279,696 0.07
33,335,401 0.38
Denmark
Danske Bank A/S FRN 26/12/2167 USD 2,732,000 2,550,004 0.03
Welltec International ApS 8.25% 15/10/2026 USD 6,347,000 5,861,915 0.07
8,411,919 0.10
France
Afflelou SAS FRN 19/05/2027 EUR 20,055,000 20,248,445 0.23
Altice France SA 2.50% 15/01/2025 EUR 6,700,000 6,457,893 0.07
Altice France SA 5.13% 15/07/2029 USD 25,468,000 20,445,211 0.24
Altice France SA 8.13% 01/02/2027 USD 9,543,000 8,878,675 0.10
Banijay Entertainment Sasu 3.50% 01/03/2025 EUR 5,836,000 5,837,221 0.07
Banijay Entertainment SASU 5.38% 01/03/2025 USD 12,372,000 11,018,055 0.13
Banijay Group SAS 6.50% 01/03/2026 EUR 10,183,000 10,237,994 0.12
BNP Paribas SA FRN Perp EUR 1,300,000 1,050,088 0.01
CAB Selas 3.38% 01/02/2028 EUR 22,475,000 21,428,340 0.24
Casino Guichard Perrachon SA FRN 20/01/2170 EUR 5,012,000 1,488,514 0.02
Casino Guichard Perrachon SA 1.87% 13/06/2022 EUR 7,000,000 7,010,366 0.08
Casino Guichard Perrachon SA FRN Perp EUR 14,700,000 7,065,555 0.08
Casino Guichard-Perrachon SA 4.50% 07/03/2024 EUR 13,200,000 12,363,032 0.14
Chrome Holding SASU 5.00% 31/05/2029 EUR 2,456,000 2,289,308 0.03
CNP Assurances FRN Perp USD 10,800,000 8,926,245 0.10
Electricite de France SA FRN Perp EUR 1,800,000 1,617,313 0.02
Electricite de France SA FRN Perp EUR 6,000,000 5,591,422 0.06
Electricite de France SA FRN Perp GBP 24,300,000 28,501,481 0.33
Electricite de France SA FRN Perp GBP 2,000,000 2,413,457 0.03
Goldstory SASU 5.38% 01/03/2026 EUR 5,221,000 5,242,586 0.06
Goldstory SASU FRN 01/03/2026 EUR 1,800,000 1,807,395 0.02
IM Group SAS 6.63% 01/03/2025 EUR 13,172,000 13,521,058 0.16
Iqera Group SAS 6.50% 30/09/2024 EUR 20,725,000 20,858,548 0.24
La Financiere Atalian SA 6.63% 15/05/2025 GBP 1,300,000 1,440,699 0.02
Laboratoire Eimer SE 5.00% 01/02/2029 EUR 2,420,000 2,262,833 0.03
33

Quantity/ Market
Nominal Value % of
Bonds
France (continued)
MACIF FRN Perp EUR 3,000,000 2,671,790 0.03
Midco GB SASU 7.75% 01/11/2027 EUR 9,830,000 10,016,463 0.12
Mobilux Finance SAS 4.25% 15/07/2028 EUR 4,369,000 4,064,565 0.05
Paprec Holding SA 4.00% 31/03/2025 EUR 13,983,000 14,104,136 0.16
Parts Europe SA FRN 20/07/2027 EUR 9,900,000 9,880,801 0.11
Parts Europe SA 6.50% 16/07/2025 EUR 30,843,000 31,895,684 0.37
Picard Groupe SAS 3.88% 01/07/2026 EUR 8,125,000 7,908,897 0.09
Quatrim Sasu 5.88% 15/01/2024 EUR 20,912,000 20,960,934 0.24
Societe Generale SA FRN 18/05/2170 USD 6,431,000 5,421,518 0.06
Tereos Finance Groupe I SA 7.50% 30/10/2025 EUR 6,050,000 6,291,560 0.07
Tereos Finance Groupe I SA 7.50% 30/10/2025 EUR 10,908,000 11,343,527 0.13
Vallourec SA 8.50% 30/06/2026 EUR 13,000,000 13,342,839 0.15
501,996,372 5.77
Germany
Adler Real Estate AG 1.50% 17/04/2022 EUR 27,700,000 27,449,535 0.32
Adler Real Estate AG 1.88% 27/04/2023 EUR 3,600,000 3,427,578 0.04
CT Investment GmbH 5.50% 15/04/2026 EUR 9,036,000 8,831,029 0.10
HT Troplast AG 9.25% 15/07/2025 EUR 1,978,000 1,981,350 0.02
IKB Deutsche Industriebank AG FRN 31/01/2028 EUR 3,000,000 2,970,313 0.03
Nidda Bondco GmbH 5.00% 30/09/2025 EUR 10,303,000 9,357,258 0.11
Nidda BondCo GmbH 7.25% 30/09/2025 EUR 11,520,000 11,025,164 0.13
Nidda Healthcare Holding GmbH 3.50% 30/09/2024 EUR 34,128,000 32,825,903 0.38
Nidda Healthcare Holding GmbH 3.50% 30/09/2024 EUR 15,790,000 15,136,406 0.17
Prestigebidco GmbH 6.25% 15/12/2023 EUR 23,181,000 23,259,058 0.27
Techem Verwaltungsgesellschaft 674 6.00% 30/07/2026 EUR 19,490,000 17,194,383 0.20
TK Elevator Midco GmbH 4.38% 15/07/2027 EUR 10,985,000 10,876,299 0.12
TK Elevator Midco GmbH FRN 15/07/2027 EUR 10,200,000 10,206,018 0.12
TUI Cruises GmbH 6.50% 15/05/2026 EUR 2,500,000 2,370,319 0.03
Vonovia SE 1.63% 01/09/2051 EUR 6,000,000 4,636,208 0.05
181,546,821 2.09
Greece
Alpha Bank SA 3.00% 14/02/2024 EUR 12,012,000 11,947,987 0.14
Greece (Govt of) 0.00% 15/10/2042 EUR 3,204,863,200 3,372,157 0.04
15,320,144 0.18
Hong Kong
Hongkong & Shanghai Banking Corp. Limited FRN Perp USD 18,190,000 13,463,600 0.16
13,463,600 0.16
India
Piramal Capital & Housing Finance Limited 0.00% 16/08/2026§ INR 845,000,000 3,316,444 0.04
Piramal Capital & Housing Finance Limited 8.50% 18/04/2023 INR 700,000,000 2,976,476 0.03
Piramal Capital & Housing Finance Limited 9.25% 09/09/2023§ INR 815,000,000 3,198,700 0.04
Reliance Capital Limited 9.00% 09/09/2026 INR 300,000,000 1,130,739 0.01
10,622,359 0.12
§
Security is currently in default.

Quantity/ Market
Nominal Value % of
Bonds
Ireland
ABH Financial Limited Via Alfa Holding Issuance plc CHF 10,400,000 2,381,935 0.03
2.88% 09/11/2022
AIB Group plc FRN Perp EUR 5,474,000 5,677,122 0.07
Alfa Bank AO Via Alfa Bond Issuance plc 5.95% 15/04/2030 USD 3,500,000 342,256 0.00
Ardagh Group 4.75% 15/07/2027 GBP 20,016,000 21,683,191 0.24
Beazley Insurance DAC 5.50% 10/09/2029 USD 10,169,000 9,199,345 0.12
Credit Bank of Moscow Via CBOM Finance plc 3.10% 21/01/2026 EUR 17,973,000 2,695,950 0.03
Credit Bank of Moscow Via CBOM Finance plc 5.15% 20/02/2024 EUR 9,500,000 1,045,000 0.01
Credit Bank of Moscow Via CBOM Finance plc 5.55% 14/02/2023 USD 5,957,000 499,302 0.01
Gtlk Europe Capital DAC 4.80% 26/02/2028 USD 4,500,000 952,075 0.01
Russian Railways Via RZD Capital plc 2.20% 23/05/2027 EUR 540,000 88,425 0.00
Virgin Media Vendor Financing Notes III 4.88% 15/07/2028 GBP 77,189,000 86,371,304 1.00
VTB Bank PJSC Via VTB Eurasia DAC FRN Perp USD 12,500,000 3,030,508 0.03
133,966,413 1.55
Italy
Almaviva-The Italian Innovation Company SpA 4.88% EUR 10,060,000 9,975,640 0.12
30/10/2026
Autostrade per l'Italia 2.00% 15/01/2030 EUR 22,840,000 21,471,228 0.25
Banca Monte dei Paschi di Siena SpA 1.88% 09/01/2026 EUR 14,500,000 13,187,740 0.15
doValue SpA 3.38% 31/07/2026 EUR 5,277,000 5,088,717 0.06
Eni SpA FRN Perp EUR 14,720,000 14,094,748 0.16
Eni Spa Var 13/01/2169 2.63% 13/01/2169 EUR 10,105,000 10,047,696 0.12
Gamma Bidco SpA 5.13% 15/07/2025 EUR 17,355,000 17,188,609 0.20
Golden Goose SpA FRN 14/05/2027 EUR 9,739,000 9,612,075 0.11
Guala Closures SpA 3.25% 15/06/2028 EUR 3,500,000 3,160,950 0.04
IMA Industria Macchine Automatiche SpA 3.75% 15/01/2028 EUR 11,292,000 10,606,866 0.12
Intesa Sanpaolo SpA 5.15% 10/06/2030 GBP 560,000 682,718 0.01
Intesa Sanpaolo SpA FRN 01/03/2169 EUR 11,130,000 11,038,593 0.13
Intesa Sanpaolo SpA 6.38% 30/09/2170 EUR 2,504,000 2,556,058 0.03
Mooney Group SpA FRN 17/12/2026 EUR 867,000 864,620 0.01
Pro-Gest SpA 3.25% 15/12/2024 EUR 25,000,000 19,208,215 0.22
Rekeep SpA 7.25% 01/02/2026 EUR 6,083,000 6,345,984 0.07
Sisal Group SpA 7.00% 31/07/2023 EUR 27,534,000 18,979,588 0.22
UniCredit SpA FRN 30/06/2035 USD 9,976,000 8,591,751 0.10
UniCredit SpA FRN 02/04/2034 USD 5,000,000 4,788,863 0.06
UniCredit SpA FRN Perp EUR 20,800,000 21,511,828 0.25
230,938,312 2.68
Japan
Rakuten Group Inc. FRN Perp EUR 9,018,000 7,853,994 0.09
SoftBank Group Corp. 3.38% 06/07/2029 EUR 8,386,000 7,106,849 0.08
SoftBank Group Corp. 3.88% 06/07/2032 EUR 8,231,000 6,950,099 0.08
21,910,942 0.25
35

Quantity/ Market
Nominal Value % of
Bonds
AA Bond Company Limited 5.50% 31/07/2027 GBP 11,174,000 13,837,272 0.16
Avis Budget Finance plc 4.50% 15/05/2025 EUR 6,600,000 6,701,888 0.08
Cpuk Finance Limited 4.88% 28/08/2025 GBP 11,792,000 13,615,048 0.16
CPUK Finance Limited 4.50% 28/08/2027 GBP 5,000,000 5,712,076 0.07
CPUK Finance Limited 6.50% 28/08/2026 GBP 7,576,000 9,049,562 0.10
HSBC Bank Perp 5.84% GBP 18,975,000 27,531,815 0.33
HSBC Capital Funding Dollar 1 LP FRN 29/12/2049 USD 2,254,000 3,021,829 0.03
Lithium Midco II Limited 6.75% 09/07/2025 EUR 8,951,403 8,145,777 0.09
Petropavlovsk 2016 Limited 8.13% 14/11/2022 USD 21,813,000 7,123,064 0.08
TVL Finance plc FRN 15/07/2025 GBP 18,423,000 21,142,806 0.24
TVL Finance plc 9.00% 15/01/2025 GBP 7,000,000 8,488,740 0.10
176,935,694 2.04
Lebanon
Lebanon (Govt of) 0.00% 25/05/2029§ USD 6,500,000 698,350 0.01
3,362,370 0.06
Luxembourg
Allied Universal Holdco LLC 4.88% 01/06/2028 GBP 20,587,000 22,359,136 0.26
Altice Financing SA 3.00% 15/01/2028 EUR 12,463,000 11,020,733 0.13
Altice Financing SA 4.25% 15/08/2029 EUR 16,097,000 14,401,181 0.17
Altice Financing SA 5.00% 15/01/2028 USD 20,000,000 16,141,679 0.19
Altice Financing SA 5.75% 15/08/2029 USD 19,353,000 15,756,679 0.18
Altice Finco SA 4.75% 15/01/2028 EUR 8,000,000 7,029,720 0.08
Altice France Holding SA 8.00% 15/05/2027 EUR 150,920,000 156,058,646 1.79
Altice France Holding SA 10.50% 15/05/2027 USD 2,497,000 2,358,765 0.03
Altice France Holding SA 10.50% 15/05/2027 USD 32,867,000 31,047,474 0.36
ARD Finance SA 5.00% 30/06/2027 EUR 9,985,120 9,102,125 0.11
ARD Finance SA 6.50% 30/06/2027 USD 5,500,000 4,525,956 0.05
B&M European Value Retail SA 3.63% 15/07/2025 GBP 4,500,000 5,220,746 0.06
B&M European Value Retail SA 4.00% 15/11/2028 GBP 1,959,000 2,178,868 0.03
BK LC Lux Finco1 Sarl 5.25% 30/04/2029 EUR 4,766,000 4,686,358 0.05
Cidron Aida Finco Sarl 5.00% 01/04/2028 EUR 9,121,000 8,578,521 0.10
Cidron Aida Finco Sarl 6.25% 01/04/2028 GBP 9,196,000 10,174,685 0.12
Cirsa Finance International Sarl 6.25% 20/12/2023 EUR 27,030,000 23,099,186 0.27
Codere Finance 2 Luxembourg SA 10.75% 30/09/2026 EUR 15,761,000 16,731,287 0.19
Codere Finance 2 Luxembourg SA 12.75% 30/11/2027 EUR 37,880,906 9,648,827 0.11
Codere Finance 2 Luxembourg SA 13.63% 30/11/2027 USD 17,997,091 4,045,392 0.05
§

Quantity/ Market
Nominal Value % of
Bonds
Luxembourg (continued)
ContourGlobal Power Holdings SA 2.75% 01/01/2026 EUR 2,916,000 2,750,278 0.03
ContourGlobal Power Holdings SA 3.13% 01/01/2028 EUR 4,193,000 3,891,715 0.04
Cosan Luxembourg 7.00% 20/01/2027 USD 1,435,000 1,336,406 0.02
CPI Property Group SA 1.50% 27/01/2031 EUR 3,000,000 2,472,023 0.03
CPI Property Group SA FRN 27/07/2170 EUR 5,000,000 4,164,341 0.05
CPI Property Group SA FRN 16/11/2168 EUR 19,791,000 18,037,106 0.21
CPI Property Group SA FRN Perp EUR 41,400,000 38,514,694 0.45
Euronav Luxembourg SA 6.25% 14/09/2026 USD 5,450,000 4,904,239 0.06
Gamma Bondco Sarl 8.13% 15/11/2026 EUR 22,602,000 22,133,009 0.25
Garfunkelux Holdingco 3 SA 6.75% 01/11/2025 EUR 6,575,000 6,561,725 0.08
Garfunkelux Holdingco 3 SA 7.75% 01/11/2025 GBP 15,316,000 18,037,878 0.21
HSE Finance Sarl 5.63% 15/10/2026 EUR 6,696,000 6,360,252 0.07
Kleopatra Finco Sarl 4.25% 01/03/2026 EUR 3,492,000 3,127,850 0.04
Kleopatra Holdings 2 6.50% 01/09/2026 EUR 9,489,000 7,180,582 0.08
Lhmc Finco 2 Sarl 7.25% 02/10/2025 EUR 21,415,680 20,952,566 0.24
Lune Holdings Sarl 5.63% 15/11/2028 EUR 8,142,000 7,325,018 0.08
MHP Lux SA 6.25% 19/09/2029 USD 24,500,000 10,229,255 0.12
Motion Finco Sarl 7.00% 15/05/2025 EUR 45,331,000 46,984,035 0.54
Offshore Drilling Holding SA 8.38% 31/12/2050 USD 6,050,000 354,423 0.00
Picard Bondco SA 5.38% 01/07/2027 EUR 16,638,000 15,785,594 0.18
PLT VII Finance sarl 4.63% 05/01/2026 EUR 8,250,000 8,177,584 0.09
PLT VII Finance Sarl FRN 05/01/2026 EUR 17,750,000 17,806,418 0.21
Rossini Sarl 3.88% 30/10/2025 EUR 4,500,000 4,476,249 0.05
Rossini Sarl 6.75% 30/10/2025 EUR 20,000,000 20,540,350 0.24
Sani/Ikos Financial Holdings 1 Sarl 5.63% 15/12/2026 EUR 12,137,000 11,920,213 0.14
Summer BC Holdingco A Sarl 9.25% 31/10/2027 EUR 12,000,000 11,171,237 0.13
Summer BC Holdingco B Sarl 5.75% 31/10/2026 EUR 28,450,000 28,919,533 0.33
Takko Luxembourg 2 SCA FRN 15/11/2023 EUR 5,075,000 4,854,007 0.06
Takko Luxembourg 2 SCA 5.38% 15/11/2023 EUR 4,590,000 4,398,398 0.05
Telenet Finance Luxembourg Notes Sarl 5.50% 01/03/2028 USD 31,000,000 27,228,799 0.31
Trafigura Funding SA 5.88% 23/09/2025 USD 21,032,000 17,924,636 0.21
Vivion Investments Sarl 3.00% 08/08/2024 EUR 10,200,000 9,806,849 0.11
782,493,226 9.04
Marshall Islands
Danaos Corp. 8.50% 01/03/2028 USD 11,042,000 10,723,460 0.12
Navigator Holdings Limited 8.00% 10/09/2025 USD 2,400,000 2,190,618 0.03
Seaspan Corp. 5.50% 01/08/2029 USD 2,561,000 2,179,546 0.03
Seaspan Corp. 6.50% 29/04/2026 USD 24,600,000 22,656,699 0.25
37,750,323 0.43
Mauritius
CA Magnum Holdings 5.38% 31/10/2026 USD 4,190,000 3,717,301 0.04
Greenko Mauritius Limited 6.25% 21/02/2023 USD 4,020,000 3,663,108 0.04
7,380,409 0.08
37

Quantity/ Market
Nominal Value % of
Bonds
Netherlands
Argentum Netherlands BV for Swiss Re Limited
USD 3,000,000 2,680,232 0.03
4.63% 15/08/2167
AT Securities BV FRN 21/07/2166 USD 11,000,000 9,848,945 0.11
Cooperatieve Rabobank UA 4.88% 06/10/2170 EUR 4,400,000 4,400,000 0.05
Dufry One BV 3.63% 15/04/2026 CHF 11,475,000 10,775,304 0.12
Koninklijke FrieslandCampina NV FRN 10/12/2169 EUR 6,231,000 6,100,801 0.07
Lebara Group BV 10.00% 17/12/2022 EUR 1,585,401 1,586,432 0.02
Maxeda DIY Holding BV 5.88% 01/10/2026 EUR 17,508,000 16,997,446 0.20
NatWest Markets NV 7.13% 15/10/2093 USD 12,000,000 19,467,352 0.22
Petrobras International Finance Company 6.25% 14/12/2026 GBP 17,420,000 21,383,296 0.25
Schoeller Packaging BV 6.38% 01/11/2024 EUR 9,885,000 9,460,125 0.11
Stichting AK Rabobank Certificaten Perp 6.50% EUR 28,606,025 33,432,233 0.39
Summer Bidco BV 9.00% 15/11/2025 EUR 11,292,000 11,824,501 0.14
Teva Pharmaceutical Finance Netherlands II BV 1.63% 15/10/2028 EUR 26,374,000 21,709,054 0.25
Teva Pharmaceutical Finance Netherlands II BV 4.50%
EUR 11,300,000 11,407,383 0.13
01/03/2025
EUR 22,388,000 23,495,646 0.27
31/01/2025
Teva Pharmaceutical Finance Netherlands IV BV 0.50%
CHF 14,550,000 14,072,636 0.16
28/07/2022
CHF 3,150,000 2,715,689 0.03
28/07/2025
Trivium Packaging Finance BV 8.50% 15/08/2027 USD 1,300,000 1,174,575 0.01
United Group BV 4.88% 01/07/2024 EUR 17,500,000 17,505,870 0.20
VZ Secured Financing BV 3.50% 15/01/2032 EUR 22,333,000 20,601,786 0.24
WP/AP Telecom Holdings III BV 5.50% 15/01/2030 EUR 9,667,000 9,104,567 0.11
WP/AP Telecom Holdings IV BV 3.75% 15/01/2029 EUR 15,000,000 14,296,086 0.17
344,984,392 3.99
New Zealand
New Zealand (Govt of) 1.50% 15/05/2031 NZD 43,369,000 23,454,828 0.27
209,069,250 2.41
Norway
Dnb Bank ASA FRN Perp USD 1,220,000 842,306 0.01
Dnb Bank ASA FRN Perp USD 13,920,000 9,610,577 0.11
Dnb Bank ASA FRN Perp USD 3,520,000 2,430,261 0.03
12,883,144 0.15

Quantity/ Market
Nominal Value % of
Bonds
Panama
Carnival Corp. 1.88% 07/11/2022 EUR 8,678,000 8,626,459 0.10
Carnival Corp. 9.88% 01/08/2027 USD 6,780,000 6,759,835 0.08
Carnival Corp. 10.50% 01/02/2026 USD 15,373,000 15,426,138 0.18
30,812,432 0.36
Poland
Synthos SA 2.50% 07/06/2028 EUR 300,000 265,010 0.00
265,010 0.00
Portugal
Banco Espirito Santo SA 0.00% 21/01/2030§ EUR 5,000,000 875,000 0.01
Banco Espirito Santo SA 0.00% 08/05/2030§ EUR 11,000,000 2,145,000 0.02
Novo Banco SA FRN 23/07/2024 EUR 2,143,000 2,053,171 0.02
Novo Banco SA 4.25% 15/09/2023 EUR 20,000,000 19,868,650 0.23
24,941,821 0.28
Singapore
NT Rig Holdingco Pte Limited 7.50% 31/12/2023 USD 7,488,676 877,408 0.01
Oro Negro Drilling Pte Limited 7.50% 31/12/2050§ USD 6,825,683 338,347 -
Trafigura Group Pte Limited FRN 31/01/2170 EUR 4,000,000 3,959,500 0.05
5,175,255 0.06
South Africa
South Africa (Govt of) 8.25% 31/03/2032 ZAR 380,000,000 21,136,910 0.24
21,136,910 0.24
Spain
Abanca Corp. Bancaria SA Perp 7.50% EUR 3,600,000 3,708,534 0.04
Banco de Sabadell SA FRN Perp EUR 5,000,000 5,016,788 0.06
Banco Santander SA FRN Perp EUR 10,800,000 9,197,853 0.11
Caixabank SA FRN Perp EUR 15,200,000 12,979,386 0.15
CaixaBank SA FRN Perp EUR 5,200,000 5,253,937 0.06
Cellnex Telecom SA 1.75% 23/10/2030 EUR 1,800,000 1,568,076 0.02
Ibercaja Banco SA FRN 23/07/2030 EUR 7,000,000 6,744,658 0.08
NH Hotel Group SA 4.00% 02/07/2026 EUR 1,500,000 1,464,054 0.02
Tendam Brands SAU 5.00% 15/09/2024 EUR 9,853,000 9,826,913 0.11
Tendam Brands SAU FRN 15/09/2024 EUR 10,141,000 10,100,427 0.12
Via Celere Desarrollos Inmobiliarios SA 5.25% 01/04/2026 EUR 2,103,000 2,098,510 0.02
67,959,136 0.79
Supranational
Clarios Global LP 8.50% 15/05/2027 USD 7,000,000 6,564,436 0.08
6,564,436 0.08
Sweden
Heimstaden Bostad AB FRN Perp EUR 25,361,000 21,454,952 0.25
33,523,601 0.39
§
The accompanying notes form an integral part of these financial statements..
39

Quantity/ Market
Nominal Value % of
Bonds
Switzerland
Credit Suisse Group AG FRN 11/08/2150 USD 4,069,000 3,400,390 0.04
Credit Suisse Group AG FRN 12/03/2167 USD 3,500,000 3,201,296 0.04
Credit Suisse Group AG FRN Perp USD 9,500,000 8,872,592 0.10
UBS Group AG FRN 29/12/2049 USD 4,000,000 3,785,116 0.04
UBS Group AG FRN Perp USD 3,000,000 2,882,702 0.03
22,142,096 0.25
United Kingdom
Air Berlin plc 0.00% 31/12/2050§ CHF 1,350,000 27,933 –
Air Berlin plc 0.00% 31/12/2050§ EUR 866,000 8,140 –
Ardagh Packaging Finance plc 5.25% 30/04/2025 USD 3,045,000 2,760,522 0.03
Arqiva Broadcast Finance plc 6.75% 30/09/2023 GBP 1,310,000 1,554,834 0.02
Barclays Bank plc FRN 02/01/2170 USD 3,000,000 2,348,635 0.03
Barclays Bank plc 6.86% 29/09/2049 USD 3,346,000 3,865,677 0.04
Barclays Bank plc FRN Perp EUR 1,540,000 1,318,163 0.02
Barclays Bank plc FRN Perp USD 4,510,000 3,530,948 0.04
Barclays plc FRN 15/03/2168 GBP 8,606,000 10,537,992 0.12
Barclays plc FRN 15/03/2023 GBP 800,000 973,293 0.01
Barclays plc FRN Perp USD 2,353,000 1,872,661 0.02
Barclays plc FRN Perp GBP 2,957,000 3,516,110 0.04
BCP V Modular Services 6.13% 30/11/2028 GBP 4,239,000 4,779,120 0.06
BCP V Modular Services 6.75% 30/11/2029 EUR 9,778,000 8,921,940 0.10
Bellis Acquisition Company plc 3.25% 16/02/2026 GBP 19,449,000 21,315,244 0.25
Boparan Finance plc 7.63% 30/11/2025 GBP 31,655,000 30,546,987 0.35
BP Capital Markets plc FRN Perp EUR 1,895,000 1,903,722 0.02
BP Capital Markets plc FRN Perp EUR 5,002,000 4,942,797 0.06
BP Capital Markets plc FRN Perp GBP 13,724,000 16,101,966 0.19
BUPA Finance plc FRN Perp GBP 3,991,000 3,971,648 0.05
Cheltenham & Gloucester plc Perp 11.75% GBP 2,000,000 4,672,680 0.05
Clarios Global LP 4.38% 15/05/2026 EUR 39,312,000 39,006,141 0.44
Connect Finco Sarl 6.75% 01/10/2026 USD 3,000,000 2,740,381 0.03
Co-operative Group FRN 08/07/2026 GBP 5,155,000 6,484,969 0.07
Co-Operative Group Limited 11.00% 18/12/2025 GBP 1,000,000 1,403,496 0.02
Coventry Building Society FRN 18/09/2169 GBP 5,187,000 6,371,449 0.07
Deuce Finco plc 5.50% 15/06/2027 GBP 18,949,000 21,465,271 0.25
Drax Finco plc 6.63% 01/11/2025 USD 13,100,000 11,993,476 0.14
Endeavour Mining plc 5.00% 14/10/2026 USD 4,947,000 4,117,819 0.05
Energia Group NI FinanceCo plc 4.00% 15/09/2025 EUR 3,850,000 3,689,222 0.04
Energia Group NI FinanceCo plc 4.75% 15/09/2024 GBP 14,125,000 16,251,988 0.19
Enquest plc 7.00% 15/10/2023 USD 8,700,008 7,877,070 0.09
EnQuest plc 7.00% 15/10/2023 GBP 11,400,000 13,648,502 0.16
§
The accompanying notes form an integral part of these financial statements..

Quantity/ Market
Nominal Value % of
Bonds
United Kingdom (continued)
Gazprom PJSC via Gaz Finance plc 1.50% 17/02/2027 EUR 3,000,000 1,170,210 0.01
Gazprom PJSC via Gaz Finance plc FRN 26/01/2170 EUR 14,600,000 3,876,300 0.04
GEMS MENASA Cayman Limited 7.13% 31/07/2026 USD 19,200,000 17,382,182 0.20
Genel Energy Finance 4 plc 9.25% 14/10/2025 USD 21,418,000 19,244,606 0.22
Greene King Finance plc FRN 15/03/2036 GBP 1,300,000 1,268,721 0.01
Greene King Finance plc FRN 15/12/2034 GBP 2,000,000 1,971,942 0.02
Heathrow Finance plc 4.75% 01/03/2024 GBP 10,000,000 11,667,740 0.13
HSBC Bank plc FRN Perp USD 30,320,000 22,470,876 0.26
HSBC Holdings plc FRN 29/12/2049 USD 7,000,000 6,554,023 0.08
HSBC Holdings plc FRN Perp USD 5,874,000 5,429,355 0.06
Inspired Entertainment Financing plc 7.88% 01/06/2026 GBP 9,750,000 11,678,148 0.13
Iron Mountain UK plc 3.88% 15/11/2025 GBP 25,310,000 29,857,184 0.34
Ithaca Energy North 9% 15/07/2026 9.00% 15/07/2026 USD 1,600,000 1,484,634 0.02
Jaguar Land Rover Automotive plc 4.50% 01/10/2027 USD 17,500,000 13,810,291 0.16
Jaguar Land Rover Automotive plc 4.50% 15/07/2028 EUR 21,788,000 19,760,143 0.22
Jaguar Land Rover Automotive plc 6.88% 15/11/2026 EUR 3,900,000 4,014,450 0.05
JBS USA Lux SA 3.75% 01/12/2031 USD 5,000,000 4,154,838 0.05
JBS USA Lux SA 5.50% 15/01/2030 USD 48,500,000 44,701,041 0.52
JBS USA Lux SA 6.50% 15/04/2029 USD 56,220,000 53,719,374 0.62
KCA Deutag UK Finance plc 9.88% 01/12/2025 USD 27,400,967 25,547,565 0.29
Legal & General Group plc FRN 01/11/2050 GBP 2,960,000 3,597,324 0.04
Lloyds Banking Group plc FRN 03/12/2035 GBP 22,172,000 24,022,869 0.28
Lloyds Banking Group plc 3.37% 14/12/2046 USD 48,522,000 36,539,906 0.42
Lloyds Banking Group plc FRN Perp GBP 10,625,000 12,528,518 0.14
Lloyds Banking Group plc FRN Perp GBP 1,900,000 2,538,076 0.03
Maison Finco plc 6.00% 31/10/2027 GBP 13,561,000 15,470,169 0.18
Marb Bondco plc 3.95% 29/01/2031 USD 4,801,000 3,805,038 0.04
Marston's Issuer plc FRN 15/10/2031 GBP 1,550,000 924,376 0.01
Marston's Issuer plc FRN 15/10/2027 GBP 15,608,000 13,717,762 0.16
Matalan Finance plc 6.75% 31/01/2023 GBP 23,906,000 26,982,943 0.31
Montenegro (Govt of) 2.88% 16/12/2027 EUR 13,008,000 11,228,839 0.13
National Express Group plc FRN 26/02/2169 GBP 2,143,000 2,485,689 0.03
Nationwide Building Society FRN Perp GBP 3,755,000 4,491,700 0.05
Nationwide Building Society FRN Perp GBP 70,000 14,279,154 0.17
41

Quantity/ Market
Nominal Value % of
Bonds
NatWest Group plc FRN 14/08/2030 GBP 7,368,000 8,695,092 0.10
NatWest Group plc FRN 31/03/2169 GBP 12,638,000 13,907,462 0.16
NatWest Group plc FRN 29/12/2049 USD 5,740,000 5,636,939 0.07
NatWest Group plc FRN Perp GBP 5,686,000 6,651,570 0.08
NatWest Group plc FRN Perp USD 8,761,000 8,085,408 0.09
Neptune Energy Bondco plc 6.63% 15/05/2025 USD 27,550,000 25,117,168 0.29
Newday Bondco plc 7.38% 01/02/2024 GBP 19,995,000 23,539,691 0.27
Ocado Group plc 3.88% 08/10/2026 GBP 17,240,000 18,239,955 0.21
Pension Insurance Corp. plc 3.63% 21/10/2032 GBP 8,168,000 9,022,557 0.10
Pension Insurance Corp. plc FRN 25/01/2168 GBP 3,500,000 4,448,350 0.05
PeopleCert Wisdom Issuer plc 5.75% 15/09/2026 EUR 9,659,000 9,569,493 0.11
Pinewood Finance Company Limited 3.25% 30/09/2025 GBP 30,408,000 34,843,144 0.40
Pinnacle Bidco plc 5.50% 15/02/2025 EUR 25,902,000 26,049,877 0.30
Pinnacle Bidco plc 6.38% 15/02/2025 GBP 30,935,000 36,643,941 0.41
Premier Foods Finance plc 3.50% 15/10/2026 GBP 9,652,000 10,659,077 0.12
Punch Finance plc 6.13% 30/06/2026 GBP 11,476,000 13,388,994 0.15
Rac Bond Company plc 4.87% 06/05/2026 GBP 23,881,000 29,396,425 0.33
RAC Bond Company plc 5.25% 04/11/2027 GBP 1,567,000 1,712,841 0.02
Rl Finance Bonds No 4 plc FRN 07/10/2049 GBP 8,335,000 9,885,338 0.12
Shawbrook Group plc FRN 08/06/2170 GBP 4,000,000 4,588,075 0.05
Spirit Issuer plc 5.47% 28/12/2028 GBP 10,050,000 13,125,145 0.15
Standard Chartered plc FRN 04/06/2170 USD 7,800,000 6,362,039 0.07
Standard Chartered plc FRN Perp USD 2,500,000 1,945,654 0.02
Standard Chartered plc FRN Perp USD 9,000,000 9,656,084 0.11
Standard Chartered plc Perp 7.01% USD 5,500,000 5,900,940 0.07
Tesco plc 5.13% 10/04/2047 EUR 1,225,000 1,537,072 0.02
Tesco plc 6.15% 15/11/2037 USD 15,926,000 17,217,067 0.20
Tesco Property Finance 4 plc 5.80% 13/10/2040 GBP 2,000,000 2,666,733 0.03
Tesco Property Finance 5 plc 5.66% 13/10/2041 GBP 23,500,000 31,794,074 0.37
Thames Water Kemble Finance plc 4.63% 19/05/2026 GBP 4,184,000 4,781,432 0.06
Thames Water Kemble Finance plc 5.88% 15/07/2022 GBP 7,692,000 9,180,612 0.11
TransDigm UK Holdings plc 6.88% 15/05/2026 USD 14,381,000 13,219,360 0.15
United Kingdom Gilt 0.25% 31/07/2031 GBP 38,000,000 39,684,962 0.46
Utmost Group plc 6.13% 15/06/2170 GBP 2,500,000 2,755,304 0.03
Very Group Funding plc 6.50% 01/08/2026 GBP 30,145,000 33,755,983 0.40
Virgin Media Secured Finance plc 4.13% 15/08/2030 GBP 33,973,000 36,901,244 0.42

Quantity/ Market
Nominal Value % of
Bonds
Virgin Money UK plc FRN 08/06/2169 GBP 33,270,000 40,259,098 0.46
Virgin Money UK plc FRN 08/06/2167 GBP 5,650,000 7,096,426 0.08
Vmed O2 UK Financing I plc 4.00% 31/01/2029 GBP 4,670,000 5,064,049 0.06
Vmed O2 UK Financing I plc 4.50% 15/07/2031 GBP 7,700,000 8,399,581 0.10
William Hill plc 4.75% 01/05/2026 GBP 10,000,000 11,974,036 0.14
1,559,465,585 17.96
United States
Albertsons Companies Inc. 3.50% 15/03/2029 USD 1,333,000 1,086,941 0.01
Albertsons Companies Inc. 4.88% 15/02/2030 USD 24,828,000 21,910,086 0.25
Allied Universal Holdco LLC 6.00% 01/06/2029 USD 2,990,000 2,420,969 0.03
Allied Universal Holdco LLC 9.75% 15/07/2027 USD 12,104,000 11,277,103 0.13
AMC Entertainment Holdings Inc. 7.50% 15/02/2029 USD 4,340,000 3,789,809 0.04
Ardagh Metal Packaging 2.00% 01/09/2028 EUR 4,921,000 4,549,755 0.05
Ardagh Metal Packaging 3.00% 01/09/2029 EUR 10,000,000 8,946,251 0.10
Arrow Bidco LLC 9.50% 15/03/2024 USD 17,884,000 16,460,759 0.19
Boxer Parent Company Inc. 9.13% 01/03/2026 USD 3,500,000 3,267,766 0.04
Caesars Entertainment Inc. 8.13% 01/07/2027 USD 27,516,000 26,694,525 0.31
Centene Corp. 3.38% 15/02/2030 USD 2,206,000 1,873,713 0.02
ChampionX Corp. 6.38% 01/05/2026 USD 3,273,000 3,012,990 0.03
Chobani LLC 7.50% 15/04/2025 USD 68,447,000 60,146,749 0.69
CHS Community Health Systems Inc. 4.75% 15/02/2031 USD 3,000,000 2,536,032 0.03
CHS Community Health Systems Inc. 6.00% 15/01/2029 USD 600,000 548,360 0.01
Clydesdale Acquisition 6.63% 15/04/2029 USD 633,000 570,502 0.01
Cnx Resources Corp. 7.25% 14/03/2027 USD 8,408,000 8,027,213 0.09
Coty Inc. 3.88% 15/04/2026 EUR 6,030,000 5,878,587 0.07
Crestwood Midstream Partners LP Crestwood Midstream
USD 7,985,000 7,161,190 0.08
Finance Corp. 5.63% 01/05/2027
USD 3,233,000 2,942,291 0.03
Finance Corp. 5.75% 01/04/2025
Dresdner Funding Trust I 8.15% 30/06/2031 USD 11,122,000 12,684,122 0.15
Dresdner Funding Trust I 8.15% 30/06/2031 USD 1,275,000 1,454,078 0.02
Encore Capital Group Inc. 4.25% 01/06/2028 GBP 18,830,000 20,613,151 0.24
Encore Capital Group Inc. 5.38% 15/02/2026 GBP 29,096,000 34,326,451 0.40
Endeavor Energy Resources LP 6.63% 15/07/2025 USD 4,000,000 3,761,579 0.04
Energy Transfer LP FRN 15/05/2169 USD 12,500,000 10,970,101 0.13
Energy Transfer LP FRN Perp USD 24,875,000 22,136,208 0.26
Energy Ventures Gom LLC 11.75% 15/04/2026 USD 17,596,000 16,372,503 0.19
43

Quantity/ Market
Nominal Value % of
Bonds
United States (continued)
Fenix Marine Services Holdings 8.00% 15/01/2024 USD 4,525,000 4,502,366 0.05
Ford Motor Company 9.63% 22/04/2030 USD 10,000,000 11,773,213 0.14
Fresh Market Inc 9.75% 01/05/2023 USD 70,521,000 62,159,919 0.72
Gates Global LLC 6.25% 15/01/2026 USD 7,245,000 6,571,029 0.08
GC EOS Buyer Inc. 9.25% 01/08/2025 USD 4,182,000 3,960,299 0.05
Iqvia Inc. 2.25% 15/03/2029 EUR 1,250,000 1,149,273 0.01
Iqvia Inc. 2.88% 15/06/2028 EUR 2,335,000 2,258,119 0.03
Iron Mountain Inc. 5.63% 15/07/2032 USD 902,000 799,618 0.01
JPMorgan Chase & Company FRN Perp USD 1,887,000 1,730,324 0.02
Legacy LifePoint Health LLC 4.38% 15/02/2027 USD 6,049,000 5,288,207 0.06
Legacy LifePoint Health LLC 6.75% 15/04/2025 USD 11,200,000 10,453,031 0.12
Life Time Inc. 5.75% 15/01/2026 USD 2,306,000 2,079,988 0.02
Life Time Inc. 8.00% 15/04/2026 USD 9,374,000 8,455,203 0.10
LifePoint Health Inc. 5.38% 15/01/2029 USD 6,818,000 5,814,549 0.07
Likewize Corp. 9.75% 15/10/2025 USD 3,500,000 3,195,834 0.04
Magnolia Oil & Gas Operating LLC 6.00% 01/08/2026 USD 5,467,000 5,035,210 0.06
Mauser Packaging Solutions Holding Company 4.75%
EUR 5,500,000 5,473,706 0.06
15/04/2024
Mozart Debt Merger Sub Inc. 3.88% 01/04/2029 USD 3,400,000 2,849,804 0.04
MPT Operating Partnership 2.50% 24/03/2026 GBP 1,750,000 1,962,899 0.02
MPT Operating Partnership 3.50% 15/03/2031 USD 7,280,000 6,069,127 0.07
MPT Operating Partnership 4.63% 01/08/2029 USD 12,500,000 11,224,363 0.13
NBM US Holdings Inc. 7.00% 14/05/2026 USD 71,500,000 67,038,619 0.78
NBM USA Holdings Inc. 6.63% 06/08/2029 USD 17,998,000 17,081,345 0.20
Netflix Inc. 3.63% 15/06/2030 EUR 1,691,000 1,794,723 0.02
New Albertsons LP 7.45% 01/08/2029 USD 6,885,000 6,647,340 0.08
New Albertsons LP 7.75% 15/06/2026 USD 226,000 221,835 0.00
Nielsen Finance LLC 5.63% 01/10/2028 USD 1,936,000 1,750,531 0.02
Organon & Company 2.88% 30/04/2028 EUR 11,451,000 10,941,606 0.13
PetSmart Inc. 4.75% 15/02/2028 USD 2,400,000 2,096,243 0.02
PetSmart Inc. 7.75% 15/02/2029 USD 1,974,000 1,838,904 0.02
Pilgrim's Pride Corp. 4.25% 15/04/2031 USD 22,367,000 18,684,493 0.22
Pilgrim's Pride Corp. 5.88% 30/09/2027 USD 16,240,000 14,810,374 0.17
Plains All America Pipe FRN Perp USD 8,827,000 6,628,851 0.08
Prime Healthcare Services Inc. 7.25% 01/11/2025 USD 21,123,000 19,508,585 0.22
Prime Security Services Borrower LLC 6.25% 15/01/2028 USD 3,461,000 3,066,036 0.04
RegionalCare Hospital Partners Holdings Inc. 9.75%
USD 2,225,000 2,106,457 0.02
01/12/2026
Safeway Inc. 7.25% 01/02/2031 USD 4,233,000 4,127,776 0.05
Safeway Inc. 7.45% 15/09/2027 USD 300,000 294,432 0.00
Scientific Games International Inc. 8.63% 01/07/2025 USD 2,798,000 2,660,250 0.03

Quantity/ Market
Nominal Value % of
Bonds
SCIL IV LLC 4.38% 01/11/2026 EUR 9,200,000 8,864,931 0.11
Seg Holding LLC 5.63% 15/10/2028 USD 2,377,000 2,146,059 0.02
Simmons Food Inc. 4.63% 01/03/2029 USD 20,231,000 17,117,869 0.20
SM Energy Company 10.00% 15/01/2025 USD 21,490,000 21,182,444 0.24
Spectrum Brands Inc. 4.00% 01/10/2026 EUR 3,092,000 3,082,455 0.04
Talos Production Inc. 12.00% 15/01/2026 USD 15,039,000 14,674,445 0.17
Tenet Healthcare Corp 4.88% 01/01/2026 USD 8,300,000 7,585,574 0.09
Tenet Healthcare Corp. 4.25% 01/06/2029 USD 16,667,000 14,460,881 0.17
TransDigm Inc. 7.50% 15/03/2027 USD 30,474,000 28,491,341 0.33
TreeHouse Foods Inc. 4.00% 01/09/2028 USD 2,998,000 2,252,339 0.03
Trident Merger Sub 6.63% 01/11/2025 USD 6,650,000 5,815,679 0.07
Trident TPI Holdings Inc. 9.25% 01/08/2024 USD 4,300,000 3,903,436 0.05
Tronox Inc. 4.63% 15/03/2029 USD 7,000,000 5,905,925 0.07
United States Treasury N/B 0.63% 15/05/2030 USD 45,000,000 35,404,976 0.41
WMG Acquisition Corp. 2.25% 15/08/2031 EUR 3,497,000 3,094,745 0.04
XPO Logistics Inc. 6.25% 01/05/2025 USD 572,000 533,060 0.01
1,811,138,259 20.96
Virgin Islands (British)
Telegram Group Inc. 7.00% 22/03/2026 USD 30,500,000 24,890,946 0.29
24,890,946 0.29
Total Bonds 7,668,058,219 88.55
Collateralized debt obligations, loans
and assimilated instruments
United Kingdom
Greene King Finance plc 5.11% 15/03/2034 GBP 3,160,000 3,916,406 0.05
Greene King Finance plc 5.32% 15/09/2031 GBP 8,833,000 6,762,431 0.07
Unique Pub Finance Company plc 5.66% 30/06/2027 GBP 4,950,000 3,135,318 0.04
47,088,373 0.54
Total Collateralized debt obligations, loans
47,088,373 0.54
and assimilated instruments
Mortgage and Asset Backed Securities
United Kingdom
30,609,490 0.35
45

Quantity/ Market
Nominal Value % of
Equities
South Africa
Sibanye Stillwater Limited ZAR 11,133,406 40,907,617 0.48
40,907,617 0.48
United States
Agnc Investment Corp Preferred USD 84,865 1,814,247 0.02
Chesapeake Energy Corp. USD 16,168 1,283,910 0.01
Chesapeake Energy Corp. USD 30,506 1,559,736 0.02
Fannie Mae Perp USD 694,984 1,922,943 0.02
6,580,836 0.07
Bonds – convertibles
Cornwall Jersey Limited 0.75% 16/04/2026 GBP 10,000,000 9,441,476 0.11
9,441,476 0.11
Total Bonds – convertibles 9,441,476 0.11
Funds
Luxembourg
The Jupiter Global Fund – Jupiter Global Emerging Markets
USD 730,000 79,464,107 0.92
Corporate Bond – Class I USD Acc†
The Jupiter Global Fund – Jupiter Dynamic Bond ESG –
EUR 655,000 63,043,750 0.73
Class I EUR Acc†
The Jupiter Global Fund – Jupiter Global Sovereign
USD 375,000 33,898,878 0.39
Opportunities – Class I USD Acc†
176,406,735 2.04
Total Funds 176,406,735 2.04
Total Transferable securities and money market instruments
7,979,092,746 92.14
Other transferable securities and money market instruments
Bonds
Luxembourg
Baghlan Group FZCO Via Aquarius Investments 0.00%
USD 350,000 – –
29/12/2049§*
Codere SA 7.50% 30/11/2027* EUR 5,068,564 4,434,994 0.05
Codere SA 7.50% 30/11/2027* EUR 12,299,149 10,761,755 0.13
15,196,749.00 0.18
Singapore
Oro Negro Drilling Pte. Ltd. 7.5% 24/01/2020* USD 265,799 – –
– –
Russian Federation
Russia (Govt of) 5.70% 17/05/2028* RUB 1,130,000,000 – –
Russia (Govt of) 8.15% 03/02/2027* RUB 960,000,000 – –
– –
* Security is valued at its fair value under the direction of the Board of Directors.
§
†
Related Party Fund

Quantity/ Market
Nominal Value % of
Equities
United Kingdom
ICBC Standard Bank plc 2.68% 23/05/2030* CNY 816,000,000 114,146,694 1.32
114,146,694 1.32
United States
JPMorgan Chase Bank 3.13% 23/11/2029* CNY 786,900,000 114,011,713 1.32
JPMorgan Chase Bank 3.27% 21/11/2030* CNH 1,678,000,000 245,555,041 2.84
JPMorgan Chase Bank 3.81% 16/09/2050* CNH 878,000,000 133,272,606 1.54
492,839,360 5.70
Total Bonds 622,182,803 7.20
Equities
France
Lithium Topco* EUR 8,731,179 7,322,840 0.08
7,322,840 0.08
Luxembourg
Codere SA* EUR 647,254 – –
– –
Norway
Island Drilling Company ASA* NOK 3,099 – –
– –
United Kingdom
Agrokor* EUR 10,000,000 – –
Agrokor* EUR 6,000,000 – –
Oro Negro Drilling Pte Limited* USD 265,799 – –
– –
United States
Chesapeake Energy Corp.* USD 30,945,000 – –
Chesapeake Energy Corp.* USD 1,106,000 – –
– –
Total Other transferable securities and money
629,505,643 7.28
market instruments
Total investments 8,608,598,389 99.42
Cash (49,928,711) (0.58)
Other assets/(liabilities) 99,972,315 1.16
Total net assets 8,658,641,993 100.00
47

Unrealised
Purchased Purchased Sold Sold Date Counterparty EUR Net Assets
AUD 150,884,672 EUR 100,151,776 14/04/2022 Citibank 1,670,602 0.02
CAD 3,168,668 EUR 2,236,141 14/04/2022 Citibank 43,070 –
CHF 951,266 EUR 924,528 14/04/2022 Citibank 2,634 –
CNH 217,326 EUR 30,701 14/04/2022 Citibank 101 –
EUR 1,429,213 AUD 2,099,420 14/04/2022 Citibank 12,452 –
EUR 287,012,106 AUD 420,474,170 29/04/2022 Citibank 3,340,364 0.04
EUR 288,032,405 AUD 420,474,170 29/04/2022 HSBC 4,361,196 0.05
EUR 286,748,904 AUD 420,474,170 29/04/2022 J.P. Morgan 3,077,025 0.04
EUR 285,570,613 AUD 420,474,170 29/04/2022 Northern Trust 1,898,119 0.02
EUR 4,532,678 CAD 6,257,500 29/04/2022 HSBC 34,228 –
EUR 581,101 CHF 594,098 14/04/2022 Citibank 2,057 –
EUR 36,892,348 CHF 37,647,771 29/04/2022 HSBC 196,159 –
EUR 553,678 CNH 3,888,549 14/04/2022 Citibank 2,550 –
EUR 12,535,504 GBP 10,524,445 14/04/2022 Citibank 91,924 –
EUR 396,435,245 GBP 332,134,995 29/04/2022 Citibank 3,949,145 0.05
EUR 397,413,643 GBP 332,134,995 29/04/2022 HSBC 4,928,567 0.06
EUR 397,464,578 GBP 332,134,995 29/04/2022 J.P. Morgan 4,979,557 0.06
EUR 393,478,721 GBP 332,134,995 29/04/2022 Northern Trust 989,523 0.01
EUR 820,622 HKD 7,059,563 14/04/2022 Citibank 8,223 –
EUR 400 JPY 51,778 14/04/2022 Citibank 16 –
EUR 56,449,714 NZD 89,726,934 29/04/2022 Citibank 433,047 0.01
EUR 56,654,365 NZD 89,726,934 29/04/2022 HSBC 637,978 0.01
EUR 56,627,645 NZD 89,726,934 29/04/2022 J.P. Morgan 611,222 0.01
EUR 56,089,149 NZD 89,726,934 29/04/2022 Northern Trust 71,988 –
EUR 38,623 SEK 398,886 14/04/2022 Citibank 42 –
EUR 7,807,987 SGD 11,683,065 14/04/2022 Citibank 36,043 –
EUR 121,981,025 USD 134,150,893 14/04/2022 Citibank 1,124,919 0.01
EUR 738,945,204 USD 810,755,899 29/04/2022 Citibank 8,876,268 0.10
EUR 737,348,438 USD 810,755,899 29/04/2022 HSBC 7,278,123 0.08
EUR 735,477,697 USD 810,755,899 29/04/2022 J.P. Morgan 5,405,767 0.06
EUR 733,712,426 USD 810,755,899 29/04/2022 Northern Trust 3,638,970 0.04
GBP 795,471 EUR 938,453 14/04/2022 Citibank 2,077 –
GBP 25,192,701 EUR 29,675,598 29/04/2022 Citibank 95,096 –
HKD 1,007,636 EUR 115,332 14/04/2022 Citibank 625 –
JPY 42,466 EUR 312 14/04/2022 Citibank 3 –
SEK 271,496,682 EUR 25,291,596 14/04/2022 Citibank 967,983 0.01
SGD 2,045,006 EUR 1,355,139 14/04/2022 Citibank 5,267 –
USD 14,808,512 EUR 13,288,487 14/04/2022 Citibank 52,504 –
USD 1,590,250 EUR 1,428,670 29/04/2022 Citibank 3,332 –
USD 1,725,390 EUR 1,550,144 29/04/2022 Northern Trust 3,550 –
Total unrealised gain on forward currency exchange contracts – Assets 58,832,316 0.68

Unrealised
CHF 144,838,132 EUR 141,585,311 14/04/2022 Citibank (417,403) –
CNH 74,838,174 EUR 10,678,086 14/04/2022 Citibank (71,121) –
EUR 2,365,149 AUD 3,572,507 14/04/2022 Citibank (45,715) –
EUR 14,945 CAD 20,982 14/04/2022 Citibank (147) –
EUR 12,940,322 CHF 13,294,207 14/04/2022 Citibank (17,007) –
EUR 167,871 CNH 1,189,465 14/04/2022 Citibank (715) –
EUR 660,901,632 CNY 4,671,384,914 29/04/2022 Citibank (659,496) (0.01)
EUR 583,415 GBP 494,356 14/04/2022 Citibank (1,089) –
EUR 114 HKD 997 14/04/2022 Citibank – –
EUR 265 JPY 35,875 14/04/2022 Citibank (1) –
EUR 1,248,773 SEK 13,190,405 14/04/2022 Citibank (27,030) –
EUR 202,809 SGD 305,747 14/04/2022 Citibank (584) –
EUR 3,781,248 USD 4,209,119 14/04/2022 Citibank (10,752) –
EUR 618,157 USD 688,134 29/04/2022 Citibank (1,501) –
EUR 50,952,601 ZAR 826,878,064 29/04/2022 Northern Trust (169,624) –
GBP 536,822,079 EUR 639,159,336 14/04/2022 Citibank (4,445,064) (0.05)
HKD 190,574,925 EUR 22,058,114 14/04/2022 Citibank (127,092) –
JPY 7,168,146 EUR 55,983 14/04/2022 Citibank (2,899) –
SEK 1,634,004 EUR 158,132 14/04/2022 Citibank (89) –
SGD 377,685,724 EUR 251,418,185 14/04/2022 Citibank (169,225) –
USD 3,178,174,319 EUR 2,876,085,484 14/04/2022 Citibank (12,867,957) (0.15)
USD 3,617,351 EUR 3,282,927 29/04/2022 J.P. Morgan (25,543) –
Total unrealised loss on forward currency exchange contracts – Liabilities (19,060,054) (0.21)
Net unrealised gain on forward currency exchange contracts – Assets 39,772,262 0.47
49

Financial Futures Contracts
Unrealised
Number of Gain/(Loss) % of
Security Description Contracts Currency EUR Net Assets
US Long Bond, 21/06/2022 133 USD (1,355,405) (0.02)
Total unrealised loss on financial future contracts - Liabilities (1,355,405) (0.02)
Net unrealised loss on financial future contracts - Liabilities (1,355,405) (0.02)
Jupiter Dynamic Bond ESG

Quantity/ Market
Nominal Value % of
Bonds
Australia
Australia (Govf of) 4.50% 21/04/2033 AUD 9,000,000 7,017,605 4.32
16,809,293 10.35
Bermuda
Lancashire Holdings Limited FRN 18/09/2041 USD 500,000 421,877 0.26
421,877 0.26
Czech Republic
Energo-Pro AS 4.50% 04/05/2024 EUR 700,000 669,364 0.41
Energo-Pro AS 8.50% 04/02/2027 USD 916,000 791,007 0.49
1,460,371 0.90
France
Afflelou SAS 4.25% 19/05/2026 EUR 900,000 881,114 0.54
Altice France SA 5.13% 15/07/2029 USD 600,000 481,668 0.30
Altice France SA 5.88% 01/02/2027 EUR 750,000 769,254 0.47
Altice France SA 8.13% 01/02/2027 USD 534,000 496,826 0.31
Banijay Entertainment Sasu 3.50% 01/03/2025 EUR 600,000 600,126 0.37
Banijay Entertainment SASU 5.38% 01/03/2025 USD 400,000 356,226 0.22
Banijay Group SAS 6.50% 01/03/2026 EUR 700,000 703,780 0.43
BNP Paribas SA 4.50% 25/08/2168 USD 450,000 365,880 0.23
CAB Selas 3.38% 01/02/2028 EUR 600,000 572,058 0.35
Casino Guichard Perrachon SA 1.87% 13/06/2022 EUR 400,000 400,592 0.25
Casino Guichard Perrachon SA FRN Perp EUR 300,000 144,195 0.09
Casino Guichard-Perrachon SA 4.50% 07/03/2024 EUR 200,000 187,319 0.12
Chrome Holding SASU 5.00% 31/05/2029 EUR 400,000 372,851 0.23
CNP Assurances FRN Perp USD 800,000 661,203 0.41
Credit Agricole Sa Var 23/06/2169 7.50% 23/06/2169 GBP 950,000 1,202,818 0.73
IM Group SAS 6.63% 01/03/2025 EUR 399,000 409,573 0.25
Iqera Group SAS 6.50% 30/09/2024 EUR 700,000 704,511 0.43
Loxam Sas 3.25% 14/01/2025 3.25% 14/01/2025 EUR 1,000,000 986,190 0.61
MACIF FRN Perp EUR 800,000 712,478 0.43
Paprec Holding SA 4.00% 31/03/2025 EUR 1,250,000 1,260,829 0.78
Quatrim Sasu 5.88% 15/01/2024 EUR 1,550,000 1,553,627 0.96
14,565,179 8.97
Germany
CT Investment GmbH 5.50% 15/04/2026 EUR 300,000 293,195 0.18
IHO Verwaltungs GmbH 6.00% 15/05/2027 USD 1,400,000 1,244,108 0.77
Nidda BondCo GmbH 7.25% 30/09/2025 EUR 900,000 861,341 0.53
Nidda Healthcare Holding GmbH 3.50% 30/09/2024 EUR 950,000 913,754 0.57
Techem Verwaltungsgesellschaft 674 6.00% 30/07/2026 EUR 1,300,000 1,146,881 0.71
4,459,279 2.76
51

Quantity/ Market
Nominal Value % of
Bonds
Ireland
Ardagh Group 4.75% 15/07/2027 GBP 885,000 958,714 0.59
Virgin Media Vendor Financing Notes III 4.88% 15/07/2028 GBP 800,000 895,167 0.55
1,853,881 1.14
Italy
Almaviva-The Italian Innovation Company SpA 4.88% EUR 700,000 694,130 0.43
30/10/2026
Eni SpA FRN Perp EUR 700,000 670,267 0.41
Intesa Sanpaolo SpA 6.38% 30/09/2170 EUR 200,000 204,158 0.13
1,568,555 0.97
AA Bond Company Limited 4.88% 31/07/2024 GBP 300,000 361,696 0.22
CPUK Finance Limited 4.50% 28/08/2027 GBP 200,000 228,483 0.14
CPUK Finance Limited 6.50% 28/08/2026 GBP 850,000 1,015,328 0.62
2,421,468 1.48
Luxembourg
Altice Financing SA 5.00% 15/01/2028 USD 1,100,000 887,792 0.55
Altice France Holding SA 8.00% 15/05/2027 EUR 650,000 672,132 0.41
Altice France Holding SA 10.50% 15/05/2027 USD 300,000 283,392 0.17
ARD Finance SA 5.00% 30/06/2027 EUR 600,000 546,941 0.34
ARD Finance SA 6.50% 30/06/2027 USD 600,000 493,741 0.30
B&M European Value Retail SA 4.00% 15/11/2028 GBP 450,000 500,506 0.31
Cidron Aida Finco Sarl 5.00% 01/04/2028 EUR 850,000 799,446 0.49
CPI Property Group SA FRN 27/07/2170 EUR 1,200,000 999,442 0.61
CPI Property Group SA FRN 16/11/2168 EUR 750,000 683,534 0.42
Kleopatra Finco Sarl 4.25% 01/03/2026 EUR 600,000 537,431 0.33
Kleopatra Holdings 2 6.50% 01/09/2026 EUR 200,000 151,345 0.09
Motion Finco Sarl 7.00% 15/05/2025 EUR 1,250,000 1,295,582 0.80
PLT VII Finance sarl 4.63% 05/01/2026 EUR 850,000 842,539 0.52
PLT VII Finance Sarl FRN 05/01/2026 EUR 500,000 501,589 0.31
Rossini Sarl 6.75% 30/10/2025 EUR 1,350,000 1,386,473 0.86
Sani/Ikos Financial Holdings 1 Sarl 5.63% 15/12/2026 EUR 1,100,000 1,080,352 0.66
Summer BC Holdingco A Sarl 9.25% 31/10/2027 EUR 1,150,000 1,070,577 0.66
Summer BC Holdingco B Sarl 5.75% 31/10/2026 EUR 891,000 905,705 0.56
Telenet Finance Luxembourg Notes Sarl 5.50% 01/03/2028 USD 1,800,000 1,581,026 0.97
15,219,545 9.36
Marshall Islands
Seaspan Corp. 6.50% 29/04/2026 USD 600,000 552,602 0.34
552,602 0.34
Mauritius
Greenko Mauritius Limited 6.25% 21/02/2023 USD 1,650,000 1,503,515 0.92
1,503,515 0.92

Quantity/ Market
Nominal Value % of
Bonds
Netherlands
Cooperatieve Rabobank UA 4.88% 06/10/2170 EUR 600,000 600,000 0.37
Maxeda DIY Holding BV 5.88% 01/10/2026 EUR 500,000 485,419 0.30
Schoeller Packaging BV 6.38% 01/11/2024 EUR 1,050,000 1,004,869 0.62
Stichting AK Rabobank Certificaten Perp 6.50% EUR 350,000 409,050 0.25
EUR 400,000 396,283 0.24
31/03/2023
EUR 500,000 474,047 0.29
09/05/2027
EUR 700,000 734,633 0.45
31/01/2025
CHF 840,000 812,441 0.50
28/07/2022
Trivium Packaging Finance BV 3.75% 15/08/2026 EUR 1,050,000 1,032,058 0.64
Trivium Packaging Finance BV 8.50% 15/08/2027 USD 500,000 451,760 0.28
United Group BV 4.88% 01/07/2024 EUR 500,000 500,168 0.31
VZ Secured Financing BV 3.50% 15/01/2032 EUR 1,000,000 922,482 0.57
WP/AP Telecom Holdings III BV 5.50% 15/01/2030 EUR 150,000 141,273 0.09
WP/AP Telecom Holdings IV BV 3.75% 15/01/2029 EUR 613,000 584,233 0.36
10,014,736 6.17
New Zealand
6,268,563 3.86
Panama
Carnival Corp. 10.50% 01/02/2026 USD 439,000 440,517 0.27
440,517 0.27
Spain
Banco de Sabadell SA FRN Perp EUR 1,000,000 1,003,358 0.62
Banco Santander SA FRN Perp EUR 1,200,000 1,021,984 0.63
Caixabank SA FRN Perp EUR 1,000,000 853,907 0.53
Tendam Brands SAU 5.00% 15/09/2024 EUR 250,000 249,338 0.15
Tendam Brands SAU FRN 15/09/2024 EUR 400,000 398,400 0.25
Via Celere Desarrollos Inmobiliarios SA 5.25% 01/04/2026 EUR 1,200,000 1,197,438 0.74
4,724,425 2.92
Sweden
Svenska Handelsbanken AB FRN 01/03/2170 USD 400,000 348,333 0.21
1,532,708 0.94
Switzerland
UBS Group AG FRN 29/12/2049 USD 650,000 615,081 0.38
615,081 0.38
53

Quantity/ Market
Nominal Value % of
Bonds
United Kingdom
Ardagh Packaging Finance plc 5.25% 30/04/2025 USD 850,000 770,589 0.47
Barclays Bank plc FRN 15/12/2034 USD 500,000 579,289 0.36
Bellis Acquisition Company plc 3.25% 16/02/2026 GBP 650,000 712,371 0.44
Clarios Global LP 4.38% 15/05/2026 EUR 1,400,000 1,389,108 0.85
Coventry Building Society FRN 18/09/2169 GBP 950,000 1,166,932 0.72
Deuce Finco plc 5.50% 15/06/2027 GBP 1,150,000 1,302,711 0.80
Drax Finco plc 6.63% 01/11/2025 USD 400,000 366,213 0.23
HSBC Bank plc FRN Perp USD 420,000 311,272 0.19
HSBC Holdings plc FRN Perp EUR 1,000,000 1,013,956 0.62
HSBC Holdings plc FRN Perp USD 400,000 369,721 0.23
Iron Mountain UK plc 3.88% 15/11/2025 GBP 350,000 412,881 0.25
Jaguar Land Rover Automotive plc 4.50% 01/10/2027 USD 600,000 473,496 0.29
Jaguar Land Rover Automotive plc 4.50% 15/07/2028 EUR 800,000 725,542 0.45
Lloyds Banking Group plc FRN 03/12/2035 GBP 150,000 162,522 0.10
Lloyds Banking Group plc FRN Perp GBP 600,000 707,493 0.44
Maison Finco plc 6.00% 31/10/2027 GBP 1,450,000 1,654,137 1.02
Matalan Finance plc 6.75% 31/01/2023 GBP 350,000 395,049 0.24
National Express Group plc FRN 26/02/2169 GBP 600,000 695,947 0.43
NatWest Group plc FRN 14/08/2030 GBP 700,000 826,081 0.51
NatWest Group plc FRN 29/12/2049 USD 400,000 392,818 0.24
Newday Bondco plc 7.38% 01/02/2024 GBP 1,200,000 1,412,734 0.86
Ocado Group plc 3.88% 08/10/2026 GBP 1,400,000 1,481,203 0.91
PeopleCert Wisdom Issuer plc 5.75% 15/09/2026 EUR 1,250,000 1,238,417 0.76
Pinewood Finance Company Limited 3.63% 15/11/2027 GBP 1,650,000 1,832,565 1.13
Pinnacle Bidco plc 5.50% 15/02/2025 EUR 700,000 703,996 0.43
Rac Bond Company plc 4.87% 06/05/2026 GBP 350,000 430,834 0.27
RAC Bond Company plc 4.57% 06/05/2023 GBP 400,000 479,453 0.29
Tesco plc 5.13% 10/04/2047 EUR 200,000 250,950 0.15
Tesco plc 6.15% 15/11/2037 USD 650,000 702,693 0.43
Thames Water Kemble Finance plc 4.63% 19/05/2026 GBP 550,000 628,534 0.39
United Kingdom Gilt 0.25% 31/07/2031 GBP 2,700,000 2,819,721 1.73
Very Group Funding plc 6.50% 01/08/2026 GBP 350,000 391,926 0.24
Virgin Media Secured Finance plc 4.13% 15/08/2030 GBP 600,000 651,716 0.40
Virgin Money UK plc FRN 08/06/2169 GBP 250,000 302,518 0.19
33,960,944 20.89

Quantity/ Market
Nominal Value % of
Bonds
United States
Albertsons Companies Inc. 4.88% 15/02/2030 USD 449,000 396,231 0.24
AMC Entertainment Holdings Inc. 7.50% 15/02/2029 USD 140,000 122,252 0.08
Ardagh Metal Packaging 2.00% 01/09/2028 EUR 800,000 739,647 0.45
Chobani LLC 7.50% 15/04/2025 USD 899,000 789,982 0.49
CHS Community Health Systems Inc. 6.88% 01/04/2028 USD 505,000 414,746 0.26
CHS Community Health Systems Inc. 8.00% 15/03/2026 USD 1,049,000 989,755 0.61
Coty Inc. 4.00% 15/04/2023 EUR 1,300,000 1,302,055 0.80
Del Monte Foods Inc. 11.88% 15/05/2025 USD 617,000 608,927 0.37
Encore Capital Group Inc. 4.25% 01/06/2028 GBP 250,000 273,674 0.17
Houghton Mifflin Harcourt Publishers Inc. 9.00% 15/02/2025 USD 400,000 376,846 0.23
Iqvia Inc. 2.88% 15/06/2028 EUR 1,000,000 967,075 0.59
JPMorgan Chase & Company Perp 3.77% USD 1,750,000 1,577,609 0.96
JPMorgan Chase & Company FRN Perp USD 1,373,000 1,259,000 0.76
Life Time Inc. 5.75% 15/01/2026 USD 730,000 658,452 0.41
Mpt Oper Partnersp/finl 5% 15/10/2027 5.00% 15/10/2027 USD 750,000 689,890 0.42
MPT Operating Partnership 3.38% 24/04/2030 GBP 500,000 553,291 0.34
MPT Operating Partnership 3.50% 15/03/2031 USD 500,000 416,836 0.26
Nielsen Finance LLC 5.63% 01/10/2028 USD 350,000 316,470 0.19
Organon & Company 2.88% 30/04/2028 EUR 500,000 477,758 0.29
Prime Healthcare Services Inc. 7.25% 01/11/2025 USD 1,442,000 1,331,789 0.82
RegionalCare Hospital Partners Holdings Inc. 9.75%
USD 500,000 473,361 0.29
01/12/2026
Safeway Inc. 7.45% 15/09/2027 USD 289,000 283,637 0.17
TreeHouse Foods Inc. 4.00% 01/09/2028 USD 1,000,000 751,281 0.46
WMG Acquisition Corp. 2.25% 15/08/2031 EUR 1,250,000 1,106,214 0.69
XPO Logistics Inc. 6.25% 01/05/2025 USD 33,000 30,753 0.02
35,431,630 21.75
Total Bonds 153,824,169 94.63
153,824,169 94.63
Cash 5,747,949 3.54
55

Unrealised
CHF 9,734,646 EUR 9,475,027 14/04/2022 Citibank 12,941 0.01
EUR 17,991,666 AUD 26,477,072 29/04/2022 Northern Trust 128,941 0.08
EUR 48,187 CHF 49,403 14/04/2022 Citibank 36 –
EUR 358,572 GBP 301,698 14/04/2022 Citibank 1,859 –
EUR 1,110,129 NZD 1,757,367 29/04/2022 Citibank 13,008 0.01
EUR 4,364 USD 4,803 14/04/2022 Citibank 36 –
EUR 47,178,312 USD 52,047,535 29/04/2022 Northern Trust 310,361 0.19
GBP 181,788 EUR 214,422 14/04/2022 Citibank 516 –
SEK 601,094 EUR 55,990 14/04/2022 Citibank 2,149 –
CHF 61,579 EUR 60,196 14/04/2022 Citibank (178) –
EUR 332 CHF 341 14/04/2022 Citibank – –
EUR 804,289 CHF 830,177 29/04/2022 Northern Trust (4,904) –
EUR 5,338,220 NZD 8,551,401 29/04/2022 Northern Trust (491) –
EUR 660 SEK 6,926 14/04/2022 Citibank (11) –
GBP 28,103,010 EUR 33,459,623 14/04/2022 Citibank (231,888) (0.14)
SEK 613,061 EUR 59,307 14/04/2022 Citibank (11) –
USD 840,428 EUR 763,168 14/04/2022 Citibank (6,027) –
Total unrealised loss on forward currency exchange contracts – Liabilities (243,510) (0.14)

Unrealised
Korea 10 Year Bond, 21/06/2022 28 KRW (43,455) (0.03)
US Long Bond, 21/06/2022 5 USD (48,430) (0.03)
Total unrealised loss on financial future contracts – Liabilities (91,885) (0.06)
Net unrealised loss on financial future contracts – Liabilities (91,885) (0.06)
Option Purchased Contracts

Market
Value % of
Quantity Security Description Currency Counterparty EUR Net Assets
70 EUR/USD, Call, 98.25, 19/12/2022 USD UBS 23,658 0.01
Total market value on option purchased contracts – Assets 47,750 0.03


Quantity/ Market
Nominal Value % of
Equities
Belgium
Azelis Group NV EUR 226,822 5,097,257 0.41
5,097,257 0.41
Denmark
DSV A/S DKK 74,181 13,119,350 1.05
Novo-Nordisk A/S DKK 741,916 76,273,666 6.12
89,393,016 7.17
France
Air Liquide SA EUR 89,714 14,253,760 1.14
Biomerieux EUR 123,960 12,177,830 0.98
Dassault Systemes SE EUR 1,557,588 70,173,234 5.64
Edenred EUR 1,287,129 58,094,568 4.66
Legrand SA EUR 238,513 20,717,239 1.66
Louis Vuitton Moet Hennessy SE EUR 62,624 40,927,915 3.28
Michelin EUR 129,125 15,988,903 1.28
Pernod-Ricard SA EUR 283,357 56,997,260 4.57
289,330,709 23.21
Germany
Adidas AG EUR 250,116 53,662,387 4.30
Knorr-Bremse AG EUR 129,932 9,112,131 0.73
62,774,518 5.03
Ireland
Kingspan Group plc EUR 321,734 28,679,369 2.30
28,679,369 2.30
Italy
Davide Campari-Milano NV EUR 2,240,644 23,834,851 1.91
doValue SpA EUR 695,780 5,524,493 0.44
Finecobank Banca Fineco SpA EUR 2,600,849 36,554,933 2.93
Nexi SpA EUR 1,716,729 18,416,210 1.48
84,330,487 6.76
Experian plc GBP 1,045,039 37,130,356 2.98
37,130,356 2.98
Luxembourg
Eurofins Scientific SE EUR 213,359 19,359,129 1.55
19,359,129 1.55
Netherlands
ASML Holding NV EUR 79,285 48,843,524 3.92
IMCD NV EUR 251,623 39,171,411 3.15
Universal Music Group NV EUR 635,387 15,377,954 1.23
Wolters Kluwer NV EUR 427,185 41,535,198 3.33
144,928,087 11.63
Spain
Amadeus IT Holding SA - A EUR 974,758 57,042,838 4.58
Grifols SA EUR 1,172,537 19,053,726 1.53
76,096,564 6.11
57

Quantity/ Market
Nominal Value % of
Equities
Sweden
Assa Abloy AB SEK 1,132,257 27,979,851 2.24
Atlas Copco AB - A SEK 513,409 23,991,094 1.93
51,970,945 4.17
Switzerland
Lonza Group AG CHF 50,601 33,416,514 2.68
Partners Group Holding AG CHF 20,737 23,423,835 1.88
Sika AG CHF 89,564 26,998,650 2.17
Temenos Group AG CHF 209,280 18,473,141 1.48
Vat Group AG CHF 53,406 18,696,272 1.50
121,008,412 9.71
United Kingdom
Allfunds Group plc EUR 3,003,133 31,589,956 2.53
Aveva Group plc GBP 831,295 24,230,638 1.94
Dechra Pharmaceuticals plc GBP 229,690 11,020,696 0.88
Dr. Martens plc GBP 5,970,286 17,056,160 1.37
Genus plc GBP 459,678 15,432,457 1.24
RELX plc EUR 3,103,972 88,478,723 7.10
Rentokil Initial plc GBP 3,827,182 23,927,267 1.92
Weir Group plc GBP 591,700 11,731,257 0.94
223,467,154 17.92
Total Equities 1,233,566,003 98.95
1,233,566,003 98.95
Total investments 1,233,566,003 98.95
Cash 13,060,067 1.05
Other assets/(liabilities) 10,410 –
Total net assets 1,246,636,480 100.00

Unrealised
EUR 2,533 HKD 21,797 14/04/2022 Citibank 25 –
EUR 745,772 SGD 1,115,140 14/04/2022 Citibank 3,945 –
EUR 9,575,114 USD 10,537,955 14/04/2022 Citibank 81,499 –
HKD 18,139 EUR 2,086 14/04/2022 Citibank 2.00 –
SGD 1,505,593 EUR 999,698 14/04/2022 Citibank 1,872 –
USD 7,137,925 EUR 6,424,165 14/04/2022 Citibank 6,394 –
Total unrealised gain on forward currency exchange contracts – Assets 93,737 –
EUR 752 HKD 6,570 14/04/2022 Citibank (4) –
EUR 260,860 SGD 394,017 14/04/2022 Citibank (1,254) –
EUR 1,434,447 USD 1,601,538 14/04/2022 Citibank (8,383) –
HKD 1,072,277 EUR 124,120 14/04/2022 Citibank (726) –
SGD 53,407,848 EUR 35,565,272 14/04/2022 Citibank (36,617) –
USD 251,220,095 EUR 227,402,177 14/04/2022 Citibank (1,077,967) (0.08)
Net unrealised loss on forward currency exchange contracts – Liabilities (1,031,214) (0.08)
59
Jupiter Europe ex-UK Equity

Quantity/ Market
Nominal Value % of
Equities
Belgium
Azelis Group NV EUR 4,004 89,980 0.36
89,980 0.36
Denmark
Coloplast A/S DKK 2,936 404,584 1.63
Novo-Nordisk A/S DKK 14,649 1,506,010 6.08
1,910,594 7.71
France
Air Liquide SA EUR 3,005 477,434 1.93
Biomerieux EUR 1,117 109,734 0.44
Dassault Systemes SE EUR 29,983 1,350,809 5.44
Edenred EUR 26,866 1,212,597 4.89
Legrand SA EUR 4,895 425,180 1.72
L'Oreal SA EUR 1,473 544,016 2.20
Louis Vuitton Moet Hennessy SE EUR 1,495 977,057 3.94
Michelin EUR 2,534 313,773 1.27
Pernod-Ricard SA EUR 6,272 1,261,612 5.09
6,672,212 26.92
Germany
Adidas AG EUR 4,768 1,022,974 4.13
Knorr-Bremse AG EUR 2,749 192,787 0.78
Symrise AG EUR 1,885 206,172 0.83
1,421,933 5.74
Ireland
Kingspan Group plc EUR 6,414 571,744 2.31
Linde plc EUR 1,786 521,958 2.11
1,093,702 4.42
Italy
Davide Campari-Milano NV EUR 42,652 453,711 1.83
Diasorin SpA EUR 297 42,219 0.17
Finecobank Banca Fineco SpA EUR 51,664 726,138 2.93
Nexi SpA EUR 29,688 318,478 1.29
1,540,546 6.22
Experian plc GBP 21,493 763,649 3.09
763,649 3.09
Luxembourg
Eurofins Scientific SE EUR 4,145 376,097 1.52
376,097 1.52
Netherlands
IMCD NV EUR 4,623 719,686 2.91
Universal Music Group NV EUR 15,484 374,752 1.51
Wolters Kluwer NV EUR 8,692 845,123 3.41
3,078,637 12.43
Jupiter Europe ex-UK Equity

Quantity/ Market
Nominal Value % of
Equities
Spain
Amadeus IT Holding SA - A EUR 19,879 1,163,319 4.70
Grifols SA EUR 17,823 289,624 1.17
1,452,943 5.87
Sweden
Assa Abloy AB SEK 23,299 575,755 2.32
Atlas Copco AB - A SEK 10,447 488,178 1.97
1,063,933 4.29
Switzerland
Lonza Group AG CHF 984 649,826 2.62
Partners Group Holding AG CHF 413 466,511 1.88
Sika AG CHF 1,653 498,289 2.01
Temenos Group AG CHF 3,832 338,251 1.37
Vat Group AG CHF 1,102 385,786 1.56
2,338,663 9.44
United Kingdom
Allfunds Group plc EUR 59,566 626,575 2.53
RELX plc EUR 62,513 1,781,932 7.20
2,408,507 9.73
24,211,396 97.74
Cash 761,591 3.07
61

Quantity/ Market
Nominal Value % of
Equities
Automobile parts and equipment
Indie Semiconductor Inc. USD 26,000 183,714 0.20
183,714 0.20
Banks
Bank Central Asia Tbk Pt IDR 1,858,300 930,028 1.01
Bankinter SA EUR 125,000 675,625 0.73
Bawag Group AG EUR 83,800 3,944,465 4.28
BNP Paribas SA EUR 31,000 1,626,725 1.76
Commerzbank AG EUR 265,000 1,911,313 2.07
DBS Group Holdings Limited SGD 40,200 958,649 1.04
Five Star Bancorp USD 99,000 2,648,209 2.87
Intesa Sanpaolo SpA EUR 452,889 961,936 1.04
Macquarie Group Limited AUD 20,161 2,766,249 3.00
Metropolitan Bank Holding Corp. USD 8,108 752,596 0.82
Nordea Bank Abp SEK 369,000 3,497,862 3.79
Regions Financial Corp. USD 45,021 919,044 1.00
Signature Bank USD 11,872 3,279,178 3.55
Silvergate Capital Corp. USD 22,500 3,098,553 3.36
Svb Financial Group USD 6,700 3,424,062 3.71
Toronto-Dominion Bank CAD 16,200 1,182,357 1.28
Unicaja Banco SA EUR 2,215,500 2,101,956 2.28
34,678,807 37.59
Commercial services
Accenture plc USD 453 138,184 0.15
Allfunds Group plc EUR 118,000 1,241,242 1.35
UBS Group AG CHF 152,000 2,741,701 2.97
4,121,127 4.47
Financial services
American Express Company USD 19,100 3,266,564 3.54
Blackstone Group Inc. USD 6,123 702,113 0.76
Charles Schwab Corp. USD 47,500 3,799,828 4.13
CME Group Inc. USD 15,300 3,334,271 3.61
Deutsche Boerse AG EUR 16,700 2,747,985 2.98
Pensionbee Group plc GBP 885,000 1,402,869 1.52
S&P Global Inc. USD 4,300 1,623,618 1.76
Stonex Group Inc. USD 6,700 456,449 0.49
Swissquote Group Holding SA CHF 22,000 3,630,014 3.93
20,963,711 22.72
Insurance
Arch Capital Group Limited USD 67,201 2,933,816 3.18
Berkshire Hathaway Inc. USD 1,463 471,528 0.51
Lincoln National Corp. USD 23,000 1,388,437 1.50
Swiss Life Holding AG CHF 2,900 1,689,877 1.83
Zurich Insurance Group AG CHF 2,100 938,501 1.02
7,422,159 8.04

Quantity/ Market
Nominal Value % of
Equities
Internet software and services
Auction Technology Group plc GBP 70,000 818,961 0.89
818,961 0.89
Investment companies
NFT Investments plc GBP 21,538,462 611,498 0.66
611,498 0.66
Semiconductors
1,649,166 1.79
Software
Atlassian Corp. plc USD 1,780 485,511 0.53
Endava plc USD 3,157 378,225 0.41
Intuit Inc. USD 440 187,155 0.20
Microsoft Corp. USD 6,100 1,725,517 1.87
2,776,408 3.01
Telecommunication services
Alphabet Inc. - C USD 140 359,970 0.39
359,970 0.39
Funds
Closed-ended Funds
Augmentum Fintech plc GBP 775,000 1,203,289 1.30
1,203,289 1.30
Open-ended Funds
Northern Trust Global US Dollar D USD 1,200,000 1,081,520 1.17
1,081,520 1.17
Total Funds 2,284,809 2.47
Warrants Equity
Financial services
Indie Semiconductor Inc. - Wts USD 79,625 142,809 0.15
142,809 0.15
Total Warrants Equity 142,809 0.15
76,013,139 82.38
Undertakings for collective investments in
transferable securities
Funds
Open-ended Funds
Northern Trust Global Funds plc GBP 1,000,000 1,182,957 1.29
1,182,957 1.29
Total Funds 1,182,957 1.29
Total Undertakings for collective investments in
1,182,957 1.29
transferable securities
63

Quantity/ Market
Nominal Value % of
Other transferable securities and money
market instruments
Equities
Financial services
Kraken* USD 22,943 1,219,987 1.32
1,219,987 1.32
1,219,987 1.32
market instruments
Cash 9,686,169 10.50

Unrealised
EUR 248,637 USD 273,707 14/04/2022 Citibank 2,056 –
USD 167,868 EUR 151,044 14/04/2022 Citibank 188 –
EUR 809 USD 900 14/04/2022 Citibank (2) –
USD 7,490,923 EUR 6,781,857 14/04/2022 Citibank (33,288) (0.03)
Net unrealised loss on forward currency exchange contracts – Liabilities (31,046) (0.03)
Contracts for Difference

Unrealised
Gain/(Loss) % of
Country Security Description Currency Holdings Counterparty EUR Net Assets
Ireland Accenture Plc USD 1,000 J.P. Morgan 12,636 0.01
London Stock Exchange Bank of America
United Kingdom GBP 18,000 113,638 0.12
Group plc Merrill Lynch
United States of America Alphabet, Inc. USD 1,100 J.P. Morgan 177,093 0.19
United States of America Ameriprise Financial, Inc. USD 4,200 J.P. Morgan 76,267 0.08
United States of America Apple Inc. USD 18,900 J.P. Morgan 322,729 0.35
United States of America Arch Capital Group Ltd. USD 21,509 J.P. Morgan 62,808 0.07
United States of America Global Payments Inc. USD 4,500 J.P. Morgan 2,328 –
United States of America Goldman Sachs Group, Inc. USD 4,500 J.P. Morgan 23,077 0.03
Intercontinental
United States of America USD 15,265 J.P. Morgan 50,264 0.05
Exchange, Inc.
United States of America Mastercard, Inc. USD 4,923 J.P. Morgan 61,331 0.07
United States of America Morningstar, Inc. USD 11,000 J.P. Morgan 159,912 0.17
United States of America Nvidia Corp. USD 5,500 J.P. Morgan 123,367 0.13
United States of America Palo Alto Networks, Inc. USD 1,440 J.P. Morgan 54,444 0.06
United States of America Silvergate Capital Corp. USD 4,800 J.P. Morgan 82,951 0.09
The Bank of America
United States of America USD 72,227 J.P. Morgan 83,578 0.09
Corporation
United States of America Wells Fargo & Co. USD 56,751 J.P. Morgan 56,263 0.06
Total unrealised gain on contracts for difference – Assets 1,462,686 1.57
Bank of America
Jersey Experian Plc GBP 33,000 (11,074) (0.01)
Merrill Lynch
Bank of America
United Kingdom Lloyds Banking Group Plc GBP 776,800 (4,052) –
Merrill Lynch
United States of America Customers Bancorp, Inc. USD 15,542 J.P. Morgan (30,957) (0.03)
United States of America PayPal Holdings, Inc. USD 2,200 J.P. Morgan (4,345) –
United States of America Signature Bank USD 4,830 J.P. Morgan (12,450) (0.01)
United States of America Zscaler, Inc. USD 1,280 J.P. Morgan (444) –
Total unrealised loss on contracts for difference – Liabilities (63,322) (0.05)
Net unrealised gain on contracts for difference – Assets 1,399,364 1.52
65
Jupiter Flexible Income

Quantity/ Market
Nominal Value % of
Bonds
Belgium
House of HR 7.50% 15/01/2027 EUR 205,000 208,214 0.28
208,214 0.28
Bermuda
Lancashire Holdings Limited FRN 18/09/2041 USD 221,000 186,470 0.25
186,470 0.25
Canada
Baytex Energy Corp. 8.75% 01/04/2027 USD 60,000 58,368 0.08
Enbridge Inc. FRN 15/07/2080 USD 300,000 280,793 0.38
International Petroleum Corp.Sweden 7.25% 01/02/2027 USD 200,000 180,626 0.24
519,787 0.70
Cayman Islands
Transocean Phoenix 2 Limited 7.75% 15/10/2024 USD 200,000 91,298 0.12
91,298 0.12
Czech Republic
Energo-Pro AS 4.50% 04/05/2024 EUR 300,000 286,870 0.38
286,870 0.38
Denmark
Welltec International ApS 8.25% 15/10/2026 USD 293,000 270,607 0.37
270,607 0.37
Ecuador
Ecuador (Govt of) 0.00% 31/07/2030 USD 35,430 17,973 0.02
174,678 0.23
Finland
Nordea Bank Abp FRN 01/03/2170 USD 200,000 154,520 0.21
154,520 0.21
France
Afflelou SAS FRN 19/05/2027 EUR 300,000 302,894 0.41
AXA SA FRN 16/01/2054 GBP 100,000 128,804 0.17
Banijay Group SAS 6.50% 01/03/2026 EUR 292,000 293,577 0.39
BNP Paribas SA FRN 24/05/2031 GBP 100,000 110,890 0.15
CNP Assurances FRN Perp USD 400,000 330,602 0.44
Goldstory SASU 5.38% 01/03/2026 EUR 172,000 172,711 0.23
IM Group SAS 6.63% 01/03/2025 EUR 200,000 205,300 0.28
Loxam SAS 4.50% 15/02/2027 EUR 100,000 99,318 0.13
Midco GB SASU 7.75% 01/11/2027 EUR 100,000 101,897 0.14
Mobilux Finance SAS 4.25% 15/07/2028 EUR 100,000 93,032 0.12
Parts Europe SA 6.50% 16/07/2025 EUR 400,000 413,652 0.56
Societe Generale SA FRN 18/05/2170 USD 200,000 168,606 0.23
Tereos Finance Groupe I SA 7.50% 30/10/2025 EUR 200,000 207,985 0.28
Vallourec SA 8.50% 30/06/2026 EUR 200,000 205,275 0.28
3,212,988 4.32

Quantity/ Market
Nominal Value % of
Bonds
Germany
Deutsche Bank AG Perp 4.50% EUR 200,000 185,295 0.25
Deutsche Bank AG Perp 7.50% USD 200,000 185,622 0.25
TUI Cruises GmbH 6.50% 15/05/2026 EUR 100,000 94,813 0.13
989,409 1.33
Ireland
AIB Group plc FRN Perp EUR 400,000 414,842 0.56
ASG Finance Designated Activity Company
USD 200,000 171,089 0.23
7.88% 03/12/2024
Bank of Ireland Group plc FRN 19/09/2027 USD 434,000 390,860 0.52
Beazley Insurance DAC 5.50% 10/09/2029 USD 403,000 364,572 0.49
1,341,363 1.80
Italy
Almaviva-The Italian Innovation Company SpA
EUR 224,000 222,122 0.30
4.88% 30/10/2026
Golden Goose SpA FRN 14/05/2027 EUR 400,000 394,787 0.53
Intesa Sanpaolo SpA 3.88% 14/07/2027 USD 200,000 176,882 0.24
Intesa Sanpaolo SpA FRN 01/03/2169 EUR 250,000 247,947 0.33
Marcolin SpA 6.13% 15/11/2026 EUR 240,000 233,479 0.31
Pro-Gest SpA 3.25% 15/12/2024 EUR 200,000 153,666 0.21
Rekeep SpA 7.25% 01/02/2026 EUR 200,000 208,646 0.28
UniCredit SpA FRN 30/06/2035 USD 200,000 172,248 0.23
UniCredit SpA FRN Perp EUR 200,000 206,845 0.28
2,016,622 2.71
Ivory Coast
Ivory Coast (Govt of) 5.75% 31/12/2032 USD 400,000 233,041 0.32
233,041 0.32
Japan
SoftBank Group Corp. 3.38% 06/07/2029 EUR 304,000 257,629 0.35
257,629 0.35
Luxembourg
Altice France Holding SA 6.00% 15/02/2028 USD 300,000 234,068 0.31
ARD Finance SA 5.00% 30/06/2027 EUR 150,000 136,735 0.18
ARD Finance SA 6.50% 30/06/2027 USD 200,000 164,580 0.22
B&M European Value Retail SA 3.63% 15/07/2025 GBP 200,000 232,033 0.31
BK LC Lux Finco1 Sarl 5.25% 30/04/2029 EUR 20,000 19,666 0.03
BK LC Lux Finco1 Sarl 5.25% 30/04/2029 EUR 130,000 127,828 0.17
Cidron Aida Finco Sarl 5.00% 01/04/2028 EUR 352,000 331,065 0.44
CPI Property Group SA FRN Perp EUR 100,000 93,031 0.12
Fage International 5.63% 15/08/2026 USD 215,000 191,689 0.26
Garfunkelux Holdingco 3 SA 6.75% 01/11/2025 EUR 200,000 199,596 0.27
HSE Finance Sarl 5.63% 15/10/2026 EUR 253,000 240,314 0.32
Kleopatra Finco Sarl 4.25% 01/03/2026 EUR 105,000 94,050 0.13
67

Quantity/ Market
Nominal Value % of
Bonds
Luxembourg (continued)
Lune Holdings Sarl 5.63% 15/11/2028 EUR 156,000 140,346 0.19
Motion Finco Sarl 7.00% 15/05/2025 EUR 100,000 103,647 0.14
Picard Bondco SA 5.38% 01/07/2027 EUR 250,000 237,192 0.32
Sani/Ikos Financial Holdings 1 Sarl 5.63% 15/12/2026 EUR 243,000 238,660 0.32
Summer BC Holdingco A Sarl 9.25% 31/10/2027 EUR 200,000 186,187 0.25
Summer BC Holdingco B Sarl 5.75% 31/10/2026 EUR 204,000 207,367 0.28
3,343,021 4.48
Marshall Islands
Danaos Corp. 8.50% 01/03/2028 USD 232,000 225,307 0.30
Seaspan Corp. 5.50% 01/08/2029 USD 200,000 170,211 0.23
Seaspan Corp. 6.50% 29/04/2026 USD 200,000 184,201 0.25
579,719 0.78
Netherlands
Argentum Netherlands BV for Swiss Re Limited FRN
USD 200,000 186,830 0.25
15/08/2052
IPD 3 BV 5.50% 01/12/2025 EUR 200,000 200,409 0.27
Schoeller Packaging BV 6.38% 01/11/2024 EUR 100,000 95,702 0.13
Sigma Holdco BV 5.75% 15/05/2026 EUR 300,000 246,375 0.33
Summer Bidco BV 9.00% 15/11/2025 EUR 150,000 157,074 0.21
EUR 429,000 399,570 0.53
09/05/2030
1,480,128 1.98
Panama
Carnival Corp. 10.50% 01/02/2026 USD 250,000 250,864 0.33
250,864 0.33
Poland
Synthos SA 2.50% 07/06/2028 EUR 100,000 88,337 0.12
88,337 0.12
Spain
Abanca Corp. Bancaria SA FRN Perp EUR 200,000 197,426 0.26
Banco de Sabadell SA FRN 12/12/2028 EUR 100,000 104,591 0.14
Banco de Sabadell SA FRN Perp EUR 200,000 201,330 0.27
Banco Santander SA FRN Perp EUR 200,000 170,331 0.23
Caixabank SA FRN Perp EUR 200,000 170,781 0.23
Caixabank SA FRN Perp EUR 200,000 208,344 0.28
Tendam Brands SAU FRN 15/09/2024 EUR 200,000 199,200 0.27
Via Celere Desarrollos Inmobiliarios SA 5.25% 01/04/2026 EUR 169,000 168,639 0.23
1,420,642 1.91
Switzerland
Credit Suisse Group AG FRN 11/08/2150 USD 200,000 167,136 0.22
Credit Suisse Group AG FRN 12/03/2167 USD 200,000 182,931 0.25
UBS Group AG FRN 31/07/2167 USD 400,000 377,440 0.51
727,507 0.98

Quantity/ Market
Nominal Value % of
Bonds
United Kingdom
Aviva plc FRN 03/06/2055 GBP 100,000 116,285 0.16
Barclays Bank plc FRN 15/12/2034 USD 150,000 173,787 0.23
Barclays plc 4.84% 09/05/2028 USD 200,000 184,481 0.25
BCP V Modular Services 6.13% 30/11/2028 GBP 113,000 127,398 0.17
BCP V Modular Services 6.75% 30/11/2029 EUR 100,000 91,245 0.12
Boparan Finance plc 7.63% 30/11/2025 GBP 400,000 385,999 0.51
BUPA Finance plc FRN Perp GBP 200,000 199,030 0.27
Close Brothers Group plc FRN 11/09/2031 GBP 100,000 109,812 0.15
Coventry Building Society FRN 18/09/2169 GBP 400,000 491,340 0.66
Deuce Finco plc 5.50% 15/06/2027 GBP 150,000 169,919 0.23
GEMS MENASA Cayman Limited 7.13% 31/07/2026 USD 300,000 271,596 0.36
HSBC Holdings plc FRN Perp EUR 200,000 202,791 0.27
JBS USA Lux SA 5.50% 15/01/2030 USD 200,000 184,334 0.25
Legal & General Group plc FRN 01/11/2050 GBP 100,000 121,531 0.16
Maison Finco plc 6.00% 31/10/2027 GBP 100,000 114,078 0.15
Marston's Issuer plc FRN 16/07/2035 GBP 200,000 189,865 0.25
Nationwide Building Society FRN Perp GBP 200,000 239,238 0.32
Nationwide Building Society FRN Perp GBP 605 123,413 0.17
NatWest Group plc FRN Perp GBP 200,000 233,963 0.31
Neptune Energy Bondco plc 6.63% 15/05/2025 USD 200,000 182,339 0.24
Newday Bondco plc 7.38% 01/02/2024 GBP 300,000 353,183 0.48
Ocado Group plc 3.88% 08/10/2026 GBP 200,000 211,600 0.28
Pension Insurance Corp. plc FRN 25/01/2168 GBP 200,000 254,191 0.34
Pension Insurance Corp. plc 8.00% 23/11/2026 GBP 100,000 140,972 0.19
PeopleCert Wisdom Issuer plc 5.75% 15/09/2026 EUR 241,000 238,767 0.32
Pinnacle Bidco plc 5.50% 15/02/2025 EUR 200,000 201,142 0.26
Punch Finance plc 6.13% 30/06/2026 GBP 200,000 233,339 0.31
Rl Finance Bonds No 4 plc FRN 07/10/2049 GBP 207,000 245,503 0.33
Sherwood Financing plc 6.00% 15/11/2026 GBP 100,000 112,397 0.15
Tp Icap plc 5.25% 29/05/2026 GBP 120,000 147,854 0.20
Very Group Funding plc 6.50% 01/08/2026 GBP 200,000 223,957 0.30
Virgin Money UK plc 7.88% 14/12/2028 GBP 100,000 126,470 0.17
7,019,711 9.38
69

Quantity/ Market
Nominal Value % of
Bonds
United States
Allied Universal Holdco LLC 9.75% 15/07/2027 USD 125,000 116,461 0.16
American Airlines Group Inc. 5.00% 01/06/2022 USD 100,000 90,634 0.12
Chobani LLC 7.50% 15/04/2025 USD 170,000 149,385 0.20
Citigroup Inc. FRN Perp USD 200,000 182,732 0.25
Cleveland-Cliffs Inc. 9.88% 17/10/2025 USD 150,000 150,856 0.20
Coty Inc. 3.88% 15/04/2026 EUR 200,000 194,978 0.26
Coty Inc. 4.00% 15/04/2023 EUR 300,000 300,474 0.40
USD 120,000 109,210 0.15
Finance Corp. 5.75% 01/04/2025
CVR Energy Inc. 5.75% 15/02/2028 USD 250,000 214,051 0.30
Del Monte Foods Inc. 11.88% 15/05/2025 USD 260,000 256,598 0.34
Energy Ventures Gom LLC 11.75% 15/04/2026 USD 100,000 93,047 0.12
Ford Motor Company 9.63% 22/04/2030 USD 100,000 117,732 0.16
Fresh Market Inc 9.75% 01/05/2023 USD 250,000 220,360 0.30
Genesis Energy LP Genesis Energy Finance Corp.
USD 200,000 179,226 0.24
6.50% 01/10/2025
Goldman Sachs Group Inc. FRN 10/08/2170 USD 100,000 90,325 0.12
Goldman Sachs Group Inc. FRN 10/11/2169 USD 150,000 137,783 0.18
Houghton Mifflin Harcourt Publishers Inc. 9.00% 15/02/2025 USD 100,000 94,212 0.13
Iea Energy Services LLC 6.63% 15/08/2029 USD 125,000 105,969 0.14
iHeartCommunications Inc. 8.38% 01/05/2027 USD 170,000 159,046 0.21
JPMorgan Chase & Company Perp 3.77% USD 100,000 90,149 0.12
JPMorgan Chase & Company FRN Perp USD 431,000 395,214 0.53
Life Time Inc. 5.75% 15/01/2026 USD 170,000 153,338 0.21
Life Time Inc. 8.00% 15/04/2026 USD 170,000 153,337 0.21
LifePoint Health Inc. 5.38% 15/01/2029 USD 340,000 289,960 0.38
Michaels Cos Inc 7.88% 01/05/2029 USD 170,000 131,718 0.18
Plains All America Pipe FRN Perp USD 170,000 127,666 0.17
Prime Healthcare Services Inc. 7.25% 01/11/2025 USD 160,000 147,771 0.20
Rite Aid Corp. 7.50% 01/07/2025 USD 170,000 145,431 0.20
Sizzling Platter LLC 8.50% 28/11/2025 USD 340,000 282,299 0.38
SM Energy Company 10.00% 15/01/2025 USD 170,000 167,567 0.22
Surgery Center Holdings Inc. 10.00% 15/04/2027 USD 140,000 133,036 0.18
Talos Production Inc. 12.00% 15/01/2026 USD 170,000 165,879 0.22
Tenet Healthcare Corp. 6.13% 01/10/2028 USD 250,000 228,788 0.31
TransDigm Inc. 7.50% 15/03/2027 USD 170,000 158,940 0.21
Wells Fargo & Company FRN Perp USD 126,000 114,232 0.15
6,526,252 8.75
Total Bonds 31,379,677 42.08

Quantity/ Market
Nominal Value % of
United Kingdom
Unique Pub Finance Company plc 6.46% 30/03/2032 GBP 200,000 282,401 0.38
282,401 0.38
Total Mortgage and Asset Backed Securities 282,401 0.38
Equities
Australia
Dexus AUD 16,246 120,079 0.16
Scentre Group AUD 49,277 101,450 0.14
221,529 0.30
Bermuda
Bunge Limited USD 3,293 325,605 0.44
325,605 0.44
Denmark
Novo-Nordisk A/S DKK 3,728 383,262 0.51
Tryg A/S DKK 7,144 157,176 0.21
540,438 0.72
Finland
UPM-Kymmene Oyj EUR 4,880 146,839 0.20
146,839 0.20
France
Amundi SA EUR 2,132 133,996 0.18
AXA SA EUR 6,917 185,358 0.24
Edenred EUR 3,071 138,610 0.19
Gecina SA EUR 790 90,692 0.12
Louis Vuitton Moet Hennessy SE EUR 310 202,600 0.27
Michelin EUR 1,027 127,168 0.17
Pernod-Ricard SA EUR 1,163 233,937 0.32
Schneider Electric SA EUR 2,670 406,454 0.55
Spie SA EUR 7,217 156,537 0.21
TotalEnergies SE EUR 10,203 471,863 0.63
Vinci SA EUR 3,826 355,646 0.48
2,502,861 3.36
Germany
Allianz SE EUR 1,362 296,200 0.39
Deutsche Boerse AG EUR 1,868 307,379 0.40
Deutsche Post AG EUR 4,526 200,378 0.27
Infineon Technologies AG EUR 5,481 170,472 0.23
RWE AG EUR 6,324 252,865 0.34
Siemens AG EUR 1,799 229,193 0.31
Siemens Healthineers AG EUR 2,835 158,930 0.22
Vonovia SE EUR 7,309 311,985 0.42
1,927,402 2.58
71

Quantity/ Market
Nominal Value % of
Equities
Greece
Hellenic Telecommunications Organization SA EUR 10,375 171,188 0.23
OPAP SA EUR 14,037 184,447 0.25
355,635 0.48
Ireland
Accenture plc USD 169 51,552 0.07
CRH plc GBP 2,535 93,428 0.12
Linde plc EUR 1,027 300,141 0.40
445,121 0.59
Isle of Man
Entain plc GBP 10,516 206,877 0.28
206,877 0.28
Italy
Banca Generali SpA EUR 4,419 150,666 0.20
Eni SpA EUR 16,971 225,952 0.30
Infrastrutture Wireless Italiane SpA EUR 14,393 147,673 0.20
Intesa Sanpaolo SpA EUR 41,424 87,985 0.12
Marr SpA EUR 7,170 109,737 0.15
722,013 0.97
Japan
Aruhi Corp. JPY 6,800 50,213 0.07
Bridgestone Corp. JPY 3,900 137,438 0.18
Direct Marketing MiX Inc. JPY 3,500 47,335 0.06
eGuarantee Inc. JPY 2,300 34,939 0.05
Fanuc Corp. JPY 900 144,283 0.19
Hazama Ando Corp. JPY 16,500 110,476 0.15
Iriso Electronics Company Limited JPY 2,300 56,897 0.08
Jmdc Inc. JPY 1,100 55,075 0.07
Katitas Company Limited JPY 2,600 65,089 0.09
KDDI Corp. JPY 5,800 172,047 0.23
Kh Neochem Company JPY 3,100 63,393 0.09
Kubota Corp. JPY 15,800 269,505 0.36
Mitsubishi Estate Company Limited JPY 7,100 95,655 0.13
Mitsui Fudosan Company Limited JPY 5,300 102,847 0.14
Nakanishi Inc. JPY 3,600 60,206 0.08
NEC Corp. JPY 3,300 125,874 0.17
Net Protections Holdings Inc. JPY 8,200 43,060 0.06
Nippon Densetsu Kogyo Company Limited JPY 2,200 25,794 0.03
Nomura Company Limited JPY 7,600 51,674 0.07
Orix Corp. JPY 8,200 148,646 0.20
Pan Pacific International Holdings Corp. JPY 2,900 42,185 0.06
Prestige International Inc. JPY 7,600 40,810 0.05
Recruit Holdings Company Limited JPY 3,300 132,327 0.18
Retty Inc. JPY 2,800 8,938 0.01
Roland Corp. JPY 3,300 98,622 0.13

Quantity/ Market
Nominal Value % of
Equities
Japan (continued)
Sekisui House Limited JPY 6,600 115,902 0.16
Shin-Etsu Chemical Company Limited JPY 1,100 153,086 0.21
Ship Healthcare Holdings Inc JPY 2,900 42,700 0.06
Simplex Holdings Inc. JPY 2,500 35,700 0.05
Softbank Corp. JPY 15,800 167,110 0.22
Sony Group Corp. JPY 2,100 197,999 0.26
Star Asia Investment Corp. JPY 277 127,405 0.17
Sumitomo Mitsui Financial Group Inc. JPY 6,100 176,518 0.24
Sumitomo Realty & Development Company Limited JPY 3,900 97,893 0.13
Technopro Holdings Inc. JPY 2,700 66,592 0.09
Tokio Marine Holdings Inc. JPY 3,500 184,779 0.25
Toyota Motor Corp. JPY 12,700 209,055 0.28
Tsubaki Nakashima Company JPY 4,700 33,662 0.05
Visional Inc. JPY 1,500 83,990 0.11
Wealthnavi Inc. JPY 2,800 42,991 0.06
WingArc1st Inc. JPY 3,300 34,683 0.05
3,953,393 5.32
Digital 9 Infrastructure plc GBP 1,484,573 1,919,512 2.57
Glencore plc GBP 49,701 292,310 0.39
IWG plc GBP 32,815 102,229 0.14
WPP plc GBP 10,794 131,935 0.18
2,445,986 3.28
Luxembourg
Aperam EUR 2,651 107,697 0.14
107,697 0.14
Netherlands
Flow Traders EUR 4,204 129,189 0.17
ING Groep NV EUR 21,738 210,989 0.27
Wolters Kluwer NV EUR 1,872 182,014 0.25
629,433 0.83
Portugal
Energias de Portugal SA EUR 42,693 190,133 0.25
190,133 0.25
Spain
Amadeus IT Holding SA - A EUR 2,677 156,658 0.21
156,658 0.21
Sweden
Coor Service Management Holding AB SEK 21,744 160,915 0.21
Tele2 AB SEK 13,757 187,112 0.25
520,410 0.69
73

Quantity/ Market
Nominal Value % of
Equities
Switzerland
Nestle SA CHF 3,745 442,258 0.60
Roche Holding AG CHF 1,137 411,586 0.55
Sika AG CHF 488 147,105 0.20
1,215,567 1.64
United Kingdom
Astrazeneca plc GBP 2,018 244,044 0.33
Aviva plc GBP 18,926 102,339 0.14
Barclays plc GBP 89,046 158,975 0.21
Biffa plc GBP 19,815 76,767 0.10
BP plc GBP 56,364 250,102 0.34
British American Tobacco plc GBP 3,907 148,106 0.20
Centrica plc GBP 208,417 201,183 0.27
Direct Line Insurance Group plc GBP 29,073 95,438 0.13
Diversified Gas & Oil plc GBP 184,683 255,175 0.34
Drax Group plc GBP 34,923 324,096 0.43
DS Smith plc GBP 27,192 104,334 0.14
Dunelm Group plc GBP 6,239 82,477 0.11
Glaxosmithkline plc GBP 13,490 265,527 0.36
HSBC Holdings plc GBP 17,964 112,490 0.15
Ibstock plc GBP 31,310 66,002 0.09
Imi plc GBP 4,342 70,908 0.10
Imperial Brands plc GBP 10,477 200,408 0.27
JPMorgan Global Core Real Assets Limited GBP 477,445 514,530 0.69
Land Securities Group plc GBP 11,496 108,454 0.15
Melrose Industries plc GBP 34,185 51,125 0.07
Micro Focus International plc GBP 27,598 133,805 0.18
Moneysupermarket.com Group plc GBP 28,540 64,839 0.09
National Express Group plc GBP 41,699 115,329 0.15
NCC Group Limited GBP 20,254 43,702 0.06
Next plc GBP 868 62,440 0.08
Phoenix Group Holdings plc GBP 13,811 101,066 0.14
Prudential plc GBP 4,495 60,126 0.08
RELX plc EUR 12,763 363,810 0.48
Rio Tinto plc GBP 1,719 123,932 0.17
Rotork plc GBP 36,081 139,187 0.19
Sage Group plc GBP 20,120 169,344 0.23
Segro plc GBP 12,114 193,961 0.26
Shell plc GBP 20,571 509,688 0.68
Smith & Nephew plc GBP 8,237 119,316 0.16
SSE plc GBP 7,506 156,209 0.21
SSP Group plc GBP 22,125 60,983 0.08
St James's Place plc GBP 7,270 125,153 0.17
Standard Chartered Bank GBP 31,627 192,754 0.26

Quantity/ Market
Nominal Value % of
Equities
Synthomer plc GBP 18,537 67,123 0.09
Tate & Lyle plc GBP 8,627 75,387 0.10
Taylor Wimpey plc GBP 67,676 104,796 0.14
Tesco plc GBP 43,839 144,948 0.19
THG plc GBP 18,045 19,943 0.03
Unibail-Rodamco-Westfield SE EUR 864 58,951 0.08
Virgin Money UK plc GBP 30,735 63,390 0.09
Vodafone Group plc GBP 106,238 157,798 0.21
WH Smith plc GBP 4,809 82,844 0.11
Whitbread plc GBP 5,452 184,971 0.25
7,128,275 9.58
United States
Abbott Laboratories USD 364 39,492 0.05
Agco Corp. USD 2,505 327,679 0.44
Alliance Capital Management Holding LP USD 971 41,201 0.06
Alphabet Inc. - C USD 16 41,139 0.06
American Campus Communities USD 5,966 305,035 0.41
Amphenol Corp. USD 567 39,200 0.05
Anthem Inc. USD 122 55,250 0.07
Apartment Income REIT Corp. USD 6,695 327,102 0.44
Apple Inc. USD 684 109,590 0.15
Applied Materials Inc. USD 328 40,145 0.05
Archer-Daniels-Midland Company USD 4,244 341,570 0.46
BlackRock Inc. USD 43 30,126 0.04
Blackstone Group Inc. USD 270 30,960 0.04
Cadence Design Systems Inc. USD 289 42,537 0.06
CBRE Group Inc. USD 3,411 285,195 0.38
Chevron Corp. USD 1,476 220,133 0.30
CME Group Inc. USD 371 80,851 0.11
Comerica Inc. USD 689 57,639 0.08
Conocophillips USD 2,396 218,319 0.29
Corteva Inc. USD 6,364 334,790 0.45
Deere & Company USD 830 310,853 0.42
Dollar General Corp. USD 264 54,123 0.07
Emerson Electric Company USD 443 39,519 0.05
Enterprise Products Partners LP USD 3,767 88,509 0.12
Eog Resources Inc. USD 2,061 224,926 0.30
Equity Residential USD 4,005 330,276 0.44
Exxon Mobil Corp. USD 3,034 229,092 0.31
Federal Realty Investment Trust USD 2,684 300,198 0.40
Fidelity National Information Services Inc. USD 325 29,590 0.04
Home Depot Inc. USD 75 20,850 0.03
Ingredion Inc. USD 3,770 298,970 0.40
75

Quantity/ Market
Nominal Value % of
Equities
Interpublic Group of Companies Inc. USD 1,576 51,844 0.07
Intuitive Surgical Inc. USD 157 43,078 0.06
Iqvia Holdings Inc. USD 311 64,838 0.09
Johnson & Johnson USD 426 68,952 0.09
JPMorgan Chase & Company USD 464 58,772 0.08
Kimco Realty Corp. USD 15,062 339,372 0.46
Lamar Advertising Company - A USD 2,859 301,425 0.40
McDonald's Corp. USD 131 29,402 0.04
Medical Properties Trust Inc. USD 14,699 283,103 0.38
Merck & Company Inc. USD 259 19,234 0.03
Microsoft Corp. USD 413 116,826 0.16
Moody's Corp. USD 81 24,698 0.03
Mosaic Company USD 7,326 432,608 0.57
National Storage Affiliates REIT USD 5,080 291,921 0.39
NextEra Energy Operating Partners USD 1,179 89,417 0.12
Nike Inc. USD 590 73,668 0.10
Old Republic International Corp. USD 3,495 83,001 0.11
Palo Alto Networks Inc. USD 79 43,841 0.06
Paypal Holdings Inc. USD 128 13,669 0.02
PepsiCo Inc. USD 304 46,019 0.06
Procter & Gamble Company USD 436 60,668 0.08
Rayonier Inc. USD 8,593 322,872 0.43
Regency Centers Corp. USD 4,547 296,658 0.40
Simon Property Group Inc. USD 2,280 276,978 0.37
Starwood Property Trust Inc. USD 2,248 48,119 0.06
Sysco Corp. USD 439 32,835 0.04
Thermo Fisher Scientific Inc. USD 112 60,076 0.08
Transunion USD 430 40,231 0.05
Visa Inc. - A USD 159 32,092 0.04
Walt Disney Company USD 322 40,908 0.05
Welltower Inc. USD 4,139 365,051 0.49
8,947,035 11.98
Funds
3i Infrastructure plc GBP 571,160 2,359,734 3.16
2,359,734 3.16
Luxembourg
The Jupiter Global Fund – Jupiter Global Emerging Markets USD 16,984 1,413,949 1.90
Corporate Bond – Class I USD A Inc Dist †
The Jupiter Global Fund – Jupiter Asia Pacific Income – USD 46,861 583,249 0.78
Class D USD Q Inc Dist†
1,997,198 2.68
†
Related Party Fund

Quantity/ Market
Nominal Value % of
Funds
United Kingdom
Secure Income REIT plc GBP 12,219 66,238 0.09
66,238 0.09
United States
Brixmor Property Group Inc. USD 13,765 325,284 0.44
Life Storage Inc. USD 2,277 292,457 0.39
National Retail Properties Inc. USD 7,504 309,006 0.41
926,747 1.24
Total Funds 5,349,917 7.17
Total Transferable securities and money market instruments 69,700,902 93.47
Cash 4,710,454 6.32
Other assets/(liabilities) 158,102 0.21
77

Unrealised
AUD 77,953 EUR 51,730 14/04/2022 Citibank 876 –
EUR 800,651 GBP 673,291 14/04/2022 Citibank 4,585 0.01
EUR 16,819,729 GBP 14,219,135 31/05/2022 HSBC 42,853 0.05
EUR 805 SGD 1,206 14/04/2022 Citibank 3 –
EUR 7,139 USD 7,827 14/04/2022 Citibank 89 –
GBP 141,369 EUR 166,462 31/05/2022 Citibank 338 –
USD 8,103,854 JPY 959,999,997 31/05/2022 HSBC 182,152 0.24
AUD 410 EUR 279 14/04/2022 Citibank (2) –
CAD 1,942,860 EUR 1,406,138 31/05/2022 Citibank (11,462) (0.02)
EUR 846 AUD 1,290 14/04/2022 Citibank (24) –
GBP 4,006,029 EUR 4,770,224 14/04/2022 Citibank (33,677) (0.04)
SGD 74,065 EUR 49,304 14/04/2022 Citibank (33) –
USD 481,884 EUR 436,104 14/04/2022 Citibank (1,973) –
USD 8,871,880 EUR 8,009,491 31/05/2022 Northern Trust (32,070) (0.04)
USD 8,639,785 GBP 6,600,000 31/05/2022 HSBC (18,586) (0.02)
USD 4,736,451 JPY 584,999,999 31/05/2022 HSBC (70,628) (0.09)

Unrealised
EURO STOXX Banks Index, 17/06/2022 1,023 EUR 42,772 0.06
FTSE 100 Index, 17/06/2022 4 GBP 13,888 0.02
FTSE China A50 Index, 28/04/2022 177 USD 48,097 0.06
Hang Seng Index, 28/04/2022 13 HKD 15,974 0.02
MSCI Singapore Index, 28/04/2022 66 SGD 13,529 0.02
MSCI Taiwan Index, 28/04/2022 53 USD 14,803 0.02
Nifty 50 Index, 28/04/2022 (51) USD 3,394 0.00
S&P 500 Emini Index, 17/06/2022 20 USD 223,789 0.30
UK Treasury 4.25% 07/06/2032, 28/06/2022 (176) GBP 258,421 0.35
Total unrealised gain on financial future contracts – Assets 634,667 0.85
EURO STOXX 50 Index, 17/06/2022 (294) EUR (184,577) (0.25)
Nikkei 225 Index, 09/06/2022 (136) JPY (317,549) (0.43)
US 10 Year Note, 21/06/2022 52 USD (140,964) (0.19)
US Long Bond, 21/06/2022 145 USD (549,487) (0.73)
Total unrealised loss on financial future contracts – Liabilities (1,192,577) (1.60)

Market
Value % of
35 S&P 500 Index, Call, 4,650, 13/04/2022 USD UBS 103,308 0.14
79
Jupiter Flexible Macro (LUX)

Quantity/ Market
Nominal Value % of
Bonds
Japan
Japan (Govt of) 0.01% 01/03/2024 JPY 26,000,000 192,774 1.37
192,774 1.37
United Kingdom
United Kingdom Gilt 0.13% 31/01/2023 GBP 350,000 410,644 2.93
666,799 4.76
United States
United States Treasury N/B 1.88% 15/11/2051 USD 730,100 574,425 4.09
574,425 4.09
Total Bonds 1,433,998 10.22
Equities
Austria
Verbund AG EUR 1,773 170,341 1.21
170,341 1.21
Bermuda
Bunge Limited USD 899 88,891 0.63
88,891 0.63
Cayman Islands
JD.com Inc. HKD 14 377 0.00
377 0.00
Curacao
Schlumberger Limited USD 2,251 85,634 0.61
85,634 0.61
Finland
Fortum Oyj EUR 5,319 89,173 0.64
89,173 0.64
France
Air Liquide SA EUR 254 40,356 0.29
Compagnie de Saint-Gobain EUR 620 34,221 0.24
Engie SA EUR 9,934 121,086 0.86
Louis Vuitton Moet Hennessy SE EUR 84 54,898 0.39
Schneider Electric SA EUR 330 50,236 0.36
TotalEnergies SE EUR 1,865 86,252 0.61
Veolia Environnement SA EUR 1,364 40,286 0.29
427,335 3.04
Germany
RWE AG EUR 4,554 182,092 1.30
182,092 1.30
Ireland
Eaton Corp. plc USD 254 35,588 0.25
Kingspan Group plc EUR 510 45,461 0.32
Linde plc EUR 192 56,112 0.40
137,161 0.97

Quantity/ Market
Nominal Value % of
Equities
Italy
Finecobank Banca Fineco SpA EUR 2,303 32,369 0.23
32,369 0.23
Japan
Keyence Corp. JPY 100 42,403 0.30
Tokyo Electron Limited JPY 100 46,846 0.33
89,249 0.63
Digital 9 Infrastructure plc GBP 219,507 283,817 2.03
283,817 2.03
Netherlands
Alfen Beheer BV EUR 437 39,800 0.28
ASML Holding NV EUR 97 59,757 0.42
NXP Semiconductor NV USD 107 18,065 0.13
Signify NV EUR 833 35,832 0.26
Stellantis NV EUR 3,390 51,013 0.36
257,374 1.83
Norway
Aker Carbon Capture ASA NOK 18,777 44,525 0.32
Equinor ASA NOK 2,623 87,449 0.62
NEL ASA NOK 26,926 41,147 0.29
173,121 1.23
Samsung Electronics Company Limited KRW 813 38,086 0.27
SK hynix Inc. KRW 481 42,205 0.30
80,291 0.57
Sweden
Lundin Petroleum AB SEK 1,840 70,051 0.50
70,051 0.50
Switzerland
ABB Limited CHF 1,468 43,172 0.31
Chubb Limited USD 152 29,796 0.21
Sika AG CHF 121 36,475 0.26
UBS Group AG CHF 4,093 73,828 0.53
183,271 1.31
Taiwan
Taiwan Semiconductor Manufacturing Company Limited USD 404 38,862 0.28
38,862 0.28
United Kingdom
Astrazeneca plc GBP 500 60,467 0.43
BP plc GBP 19,684 87,343 0.62
Drax Group plc GBP 21,164 196,408 1.40
Seraphim SpAce Investment Trust plc GBP 209,005 259,853 1.85
Shell plc GBP 3,686 91,328 0.66
695,399 4.96
81

Quantity/ Market
Nominal Value % of
Equities
United States
Abbott Laboratories USD 457 49,582 0.35
Advanced Micro Devices Inc. USD 347 37,285 0.27
Agco Corp. USD 684 89,474 0.63
Albemarle Corp. USD 299 60,134 0.43
Ally Financial Inc. USD 1,978 79,437 0.56
Alphabet Inc. - A USD 71 181,653 1.30
Amazon.com Inc. USD 45 134,893 0.96
Ameriprise Financial Inc. USD 153 42,830 0.31
Amphenol Corp. USD 1,249 86,351 0.62
Analog Devices Inc. USD 333 49,964 0.36
Apple Inc. USD 940 150,605 1.07
Applied Materials Inc. USD 408 49,936 0.36
Archer-Daniels-Midland Company USD 1,158 93,200 0.67
Caterpillar Inc. USD 306 61,523 0.44
CF Industries Holdings Inc. USD 1,295 117,893 0.84
Chevron Corp. USD 594 88,590 0.63
Comerica Inc. USD 446 37,310 0.27
Conocophillips USD 946 86,198 0.61
Corteva Inc. USD 1,736 91,326 0.65
Costco Wholesale Corp. USD 121 62,866 0.45
CSX Corp. USD 3,325 113,276 0.81
Deere & Company USD 227 85,016 0.61
Devon Energy Corp. USD 1,628 88,857 0.63
Emerson Electric Company USD 594 52,989 0.37
Exxon Mobil Corp. USD 1,207 91,138 0.66
First Republic Bank USD 209 31,272 0.22
Hess Corp. USD 727 71,131 0.51
Ingredion Inc. USD 1,028 81,523 0.58
JB Hunt Transport Services Inc. USD 439 81,608 0.58
Knight-Swift Transportation USD 1,427 67,392 0.48
Lam Research Corp. USD 71 35,102 0.25
Livent Corp. USD 2,594 61,229 0.44
Marvell Technology Inc. USD 704 46,324 0.33
McDonald's Corp. USD 239 53,642 0.38
Micron Technology Inc. USD 730 52,081 0.37
Microsoft Corp. USD 644 182,169 1.30
Mosaic Company USD 1,999 118,042 0.84
Norfolk Southern Corp. USD 428 111,537 0.80
Nvidia Corp. USD 200 49,912 0.36
Old Dominion Freight Line Inc. USD 237 66,498 0.47
Piedmont Lithium Inc. USD 567 38,275 0.27
Pioneer Natural Resources Company USD 395 91,822 0.66
Quanta Services Inc. USD 700 83,377 0.59

Quantity/ Market
Nominal Value % of
Equities
Svb Financial Group USD 64 32,707 0.23
Union Pacific Corp. USD 499 124,435 0.90
United Rentals Inc. USD 257 83,198 0.59
Wells Fargo & Company USD 799 36,085 0.26
Zions Bancorporation USD 601 36,492 0.26
3,718,179 26.53
Funds
Canada
Sprott Physical Uranium Trust CAD 35,673 472,097 3.37
472,097 3.37
3i Infrastructure plc GBP 103,171 426,249 3.04
WisdomTree Agriculture USD 74,053 474,365 3.38
WisdomTree Copper USD 5,452 205,761 1.47
1,106,375 7.89
Luxembourg
USD 4,727 393,533 2.81
Corporate Bond – Class I USD A Inc Dist†
The Jupiter Global Fund – Jupiter Japan Select –
JPY 6,617 677,339 4.82
Class I JPY Acc†
1,070,872 7.63
Total Funds 2,649,344 18.89
Structured Instruments – Commodities
Ireland
Invesco Physical Gold ETC 0.00% USD 3,932 661,482 4.72
661,482 4.72
United Kingdom
UBS ETC on UBS Bloomberg CMCI Components Emissions
EUR 783 782,021 5.57
EUR Total Return 0.00%
782,021 5.57
Total Structured Instruments – Commodities 1,443,503 10.29
Other undertakings for collective investments
Funds
WisdomTree Industrial Metals USD 14,581 273,012 1.95
273,012 1.95
†
Related Party Fund
83

Quantity/ Market
Nominal Value % of
Structured Instruments – Commodities
Ireland
iShares Physical Gold ETC 0.00% USD 9,745 330,565 2.36
330,565 2.36
Total Structured Instruments – Commodities 330,565 2.36
Total Other undertakings for collective investments 603,577 4.31
Cash 1,144,164 8.16

Unrealised
EUR 374,636 CAD 517,634 31/05/2022 Citibank 3,061 0.02
EUR 195,392 GBP 163,511 14/04/2022 Citibank 2,067 0.01
EUR 1,816,652 GBP 1,535,769 31/05/2022 HSBC 4,628 0.04
EUR 8,962 HKD 77,621 31/05/2022 Northern trust 40 –
EUR 147,137 NOK 1,405,897 31/05/2022 Citibank 2,605 0.02
EUR 24,602 USD 26,967 14/04/2022 Citibank 307 –
EUR 6,542,582 USD 7,247,028 31/05/2022 Northern trust 26,258 0.19
USD 7,462 EUR 6,715 14/04/2022 Citibank 8 –
USD 801,995 GBP 600,000 31/05/2022 HSBC 13,240 0.09
USD 764,891 GBP 580,000 31/05/2022 Northern trust 3,449 0.02
USD 1,537,811 JPY 182,200,000 31/05/2022 HSBC 34,362 0.25
EUR 169,873 CHF 175,559 31/05/2022 HSBC (1,278) (0.01)
EUR 16,257 GBP 13,752 14/04/2022 Citibank (3) –
EUR 1,013,156 JPY 138,417,308 31/05/2022 HSBC (11,259) (0.08)
EUR 5,259 MXN 117,916 31/05/2022 HSBC (13) –
EUR 54,884 SEK 568,760 31/05/2022 Northern trust (91) –
EUR 8,844 USD 9,832 14/04/2022 Citibank (14) –
GBP 1,947,018 EUR 2,317,981 14/04/2022 Citibank (15,915) (0.10)
GBP 64,626 EUR 77,082 31/05/2022 Northern trust (830) (0.01)
USD 1,380,628 EUR 1,249,492 14/04/2022 Citibank (5,685) (0.04)
USD 911,300 EUR 822,717 31/05/2022 Northern trust (3,294) (0.02)
USD 1,034,156 GBP 790,000 31/05/2022 HSBC (2,225) (0.02)
USD 914,904 JPY 113,000,001 31/05/2022 HSBC (13,641) (0.10)

Unrealised
EURO STOXX Banks Index, 17/06/2022 193 EUR 1,652 0.01
FTSE China A50 Index, 28/04/2022 34 USD 9,239 0.07
Hang Seng Index, 28/04/2022 2 HKD 2,458 0.02
MSCI Singapore Index, 28/04/2022 13 SGD 2,665 0.02
MSCI Taiwan Index, 28/04/2022 9 USD 2,514 0.02
Nifty 50 Index, 28/04/2022 (9) USD 599 0.00
UK Treasury 4.25% 07/06/2032, 28/06/2022 (28) GBP 36,239 0.26
Nikkei 225 Index, 09/06/2022 (28) JPY (65,379) (0.47)
S&P 500 Emini Index, 17/06/2022 (11) USD (123,069) (0.88)
US 10 Year Note, 21/06/2022 10 USD (27,108) (0.19)
US Long Bond, 21/06/2022 14 USD (53,054) (0.38)
85

Market
Value % of
7 S&P 500 Index, Call, 4,650, 13/04/2022 USD UBS 20,662 0.15


Quantity/ Market
Nominal Value % of
Bonds
Ireland
Glanbia Co-operative Society Limited 1.88% 27/01/2027 EUR 2,000,000 1,905,000 0.47
1,905,000 0.47
Total Bonds 1,905,000 0.47
Belgium
Umicore SA 0.00% 23/06/2025 EUR 4,000,000 3,999,000 0.98
3,999,000 0.98
Bermuda
Jazz Investments I Limited 2.00% 15/06/2026 USD 5,600,000 6,165,538 1.52
6,165,538 1.52
Cayman Islands
Bosideng International Holdings Limited 1.00% 17/12/2024 USD 4,300,000 3,956,092 0.97
Cathay Pacific Finance III Limited 2.75% 05/02/2026 HKD 38,000,000 4,455,127 1.10
CIMC Enric Holdings Limited 0.00% 30/11/2026 HKD 24,000,000 2,956,214 0.73
Kingsoft Corp. Limited 0.63% 29/04/2025 HKD 35,000,000 4,252,391 1.05
Meituan 0.00% 27/04/2027 USD 3,000,000 2,273,543 0.56
17,893,367 4.41
France
Accor SA 0.70% 07/12/2027 EUR 4,000,000 2,001,428 0.49
Atos SE 0.00% 06/11/2024 EUR 4,200,000 3,997,700 0.98
Electricite de France SA 0.00% 14/09/2024 EUR 44,000,000 5,663,900 1.39
Engie SA 0.00% 02/06/2024 EUR 5,755,900 6,121,400 1.51
Kering SA 0.00% 30/09/2022 EUR 5,000,000 5,086,550 1.26
Orpar SA 0.00% 20/06/2024 EUR 2,900,000 3,814,708 0.94
Safran SA 0.88% 15/05/2027 EUR 3,000,000 4,046,513 0.99
Schneider Electric SE 0.00% 15/06/2026 EUR 9,000 1,885,068 0.46
32,617,267 8.02
Germany
Adidas AG 0.05% 12/09/2023 EUR 3,600,000 3,722,630 0.91
Delivery Hero SE 0.25% 23/01/2024 EUR 4,300,000 3,972,125 0.98
Deutsche Lufthansa AG 2.00% 17/11/2025 EUR 4,000,000 4,347,572 1.07
HelloFresh SE 0.75% 13/05/2025 EUR 1,700,000 1,913,758 0.47
RAG-Stiftung 0.00% 16/03/2023 EUR 5,100,000 5,117,231 1.26
Zalando SE 0.05% 06/08/2025 EUR 4,000,000 3,737,143 0.92
22,810,459 5.61
Hong Kong
Lenovo Group Limited 3.38% 24/01/2024 USD 2,900,000 3,495,787 0.86
3,495,787 0.86
Israel
CyberArk Software Limited 0.00% 15/11/2024 USD 4,000,000 4,453,851 1.10
Fiverr International Limited 0.00% 01/11/2025 USD 2,500,000 1,918,125 0.47
6,371,976 1.57
87

Quantity/ Market
Nominal Value % of
Italy
Diasorin SpA 0.00% 05/05/2028 EUR 2,500,000 2,435,447 0.60
Nexi SpA 0.00% 24/02/2028 EUR 4,200,000 3,479,438 0.86
Pirelli & C SpA 0.00% 22/12/2025 EUR 5,000,000 5,407,292 1.33
11,322,177 2.79
Japan
ANA Holdings Inc. 0.00% 10/12/2031 JPY 400,000,000 3,049,055 0.75
CyberAgent Inc. 0.00% 19/02/2025 JPY 340,000,000 2,988,507 0.73
Koei Tecmo Holdings Company Limited 0.00% 20/12/2024 JPY 300,000,000 2,320,103 0.57
Medipal Holdings Corp. 0.00% 07/10/2022 JPY 500,000,000 3,717,163 0.91
Menicon Company Limited 0.00% 29/01/2025 JPY 450,000,000 3,564,588 0.87
Minebea Mitsumi Inc. 0.00% 03/08/2022 JPY 290,000,000 2,809,856 0.69
Nippon Steel Corp. 0.00% 05/10/2026 JPY 480,000,000 3,835,779 0.94
SBI Holdings Inc. 0.00% 13/09/2023 JPY 480,000,000 3,796,673 0.93
Senko Group Holdings Company Limited 0.00% 18/03/2025 JPY 500,000,000 3,722,255 0.91
Ship Healthcare Holdings Inc. 0.00% 13/12/2023 JPY 430,000,000 3,243,206 0.80
33,047,185 8.10
Cornwall Jersey Limited 0.75% 16/04/2026 GBP 2,400,000 2,265,954 0.56
2,265,954 0.56
Liberia
Royal Caribbean Cruises Limited 4.25% 15/06/2023 USD 4,000,000 4,629,790 1.14
4,629,790 1.14
Luxembourg
Citigroup Global Markets Funding Luxembourg SCA 0.00%
HKD 28,000,000 3,529,163 0.87
25/07/2024
Lagfin SCA 2.00% 02/07/2025 EUR 3,000,000 3,534,249 0.87
7,063,412 1.74
Netherlands
BE Semiconductor 0.75% 05/08/2027 EUR 1,900,000 3,142,619 0.77
BE Semiconductor 1.88% 06/04/2029 EUR 2,000,000 2,077,740 0.51
Iberdrola International BV 0.00% 11/11/2022 EUR 2,800,000 3,420,725 0.84
STMicroelectronics NV 0.00% 04/08/2025 USD 6,000,000 6,745,979 1.66
15,387,063 3.78
Kakao Corp. 0.00% 28/04/2023 USD 4,300,000 4,437,385 1.09
LG Display Company Limited 1.50% 22/08/2024 USD 2,000,000 2,062,359 0.51
Posco 0.00% 01/09/2026 EUR 2,000,000 1,985,000 0.49
8,484,744 2.09
Singapore
Sgx Treasury I Pte Limited 0.00% 01/03/2024 EUR 3,100,000 3,163,504 0.78
Singapore Airlines Limited 1.63% 03/12/2025 SGD 5,500,000 4,037,461 0.99
7,200,965 1.77

Quantity/ Market
Nominal Value % of
Spain
Amadeus IT Group SA 1.50% 09/04/2025 EUR 3,500,000 4,527,634 1.10
International Consolidated Airlines Group SA 1.13% EUR 2,300,000 2,010,583 0.49
18/05/2028
6,538,217 1.59
Sweden
Geely Sweden Financials Holding AB 0.00% 19/06/2024 EUR 3,500,000 4,066,650 1.00
4,066,650 1.00
Taiwan
Globalwafers Company Limited 0.00% 01/06/2026 USD 4,400,000 3,887,252 0.96
Taiwan Cement Corp. 0.00% 07/12/2026 USD 2,000,000 1,834,584 0.45
Win Semiconductors Corp. 0.00% 14/01/2026 USD 4,800,000 4,121,671 1.01
9,843,507 2.42
United Kingdom
Barclays Bank plc 0.00% 24/01/2025 EUR 1,800,000 1,913,967 0.47
WH Smith plc 1.63% 07/05/2026 GBP 3,000,000 3,326,180 0.82
5,240,147 1.29
United States
Airbnb Inc. 0.00% 15/03/2026 USD 3,250,000 2,845,952 0.70
Akamai Technologies Inc. 0.13% 01/05/2025 USD 6,000,000 7,191,189 1.76
Block Inc. 0.00% 01/05/2026 USD 4,500,000 3,787,414 0.93
Booking Holdings Inc. 0.75% 01/05/2025 USD 3,500,000 4,577,722 1.12
Burlington Stores Inc. 2.25% 15/04/2025 USD 2,400,000 2,511,949 0.62
Chegg Inc. 0.13% 15/03/2025 USD 3,500,000 3,168,469 0.78
Coinbase Global Inc. 0.50% 01/06/2026 USD 4,000,000 3,396,660 0.83
DexCom Inc. 0.25% 15/11/2025 USD 2,750,000 2,848,465 0.70
Dish Network Corp. Conv 0.00% 15/12/2025 USD 6,000,000 5,231,851 1.29
Dropbox Inc. 0.00% 01/03/2028 USD 4,250,000 3,646,949 0.90
Five9 Inc. 0.50% 01/06/2025 USD 3,000,000 2,930,357 0.72
Ford Motor Company 0.00% 15/03/2026 USD 5,500,000 5,983,800 1.47
FTI Consulting Inc. 2.00% 15/08/2023 USD 2,150,000 3,083,270 0.76
Glencore Funding LLC 0.00% 27/03/2025 USD 5,200,000 5,391,634 1.33
Illumina Inc. 0.00% 15/08/2023 USD 5,000,000 4,957,911 1.22
Insight Enterprises Inc. 0.75% 15/02/2025 USD 3,200,000 4,640,999 1.14
InterDigital Inc. 2.00% 01/06/2024 USD 5,250,000 4,828,145 1.19
Jetblue Airways Corp. 0.50% 01/04/2026 USD 3,500,000 2,943,936 0.72
JPMorgan Chase Bank 0.00% 07/08/2022 USD 3,000,000 2,786,562 0.68
JPMorgan Chase Bank 0.00% 18/02/2024 EUR 4,700,000 5,062,781 1.24
JPMorgan Chase Bank 0.00% 10/06/2024 EUR 5,100,000 5,633,460 1.39
Kaman Corp. 3.25% 01/05/2024 USD 5,000,000 4,670,661 1.15
KBR Inc. 2.50% 01/11/2023 USD 1,650,000 3,186,924 0.78
Liberty Media Corp. 2.13% 31/03/2048 USD 6,000,000 5,478,572 1.34
Live Nation Entertainment Inc. 2.00% 15/02/2025 USD 4,000,000 4,670,645 1.15
Liveperson Inc. 0.00% 15/12/2026 USD 4,000,000 2,869,030 0.71
Macom Technology Solutions Holdings 0.25% 15/03/2026 USD 4,750,000 4,401,682 1.08
89

Quantity/ Market
Nominal Value % of
Middleby Corp. 1.00% 01/09/2025 USD 3,000,000 3,825,875 0.94
Omnicell Inc. 0.25% 15/09/2025 USD 2,700,000 3,528,007 0.87
ON Semiconductor Corp. 0.00% 01/05/2027 USD 5,350,000 6,669,567 1.64
Palo Alto Networks Inc. 0.75% 01/07/2023 USD 1,850,000 3,872,401 0.95
Parsons Corp. 0.25% 15/08/2025 USD 4,500,000 4,303,522 1.06
Rapid7 Inc. 0.25% 15/03/2027 USD 2,000,000 2,255,491 0.55
Repay Holdings Corp. 0.00% 01/02/2026 USD 2,500,000 1,898,107 0.47
Shift4 Payments Inc. 0.00% 15/12/2025 USD 3,750,000 3,620,556 0.89
Snap Inc. 0.00% 01/05/2027 USD 4,000,000 3,084,302 0.76
Southwest Airlines Company 1.25% 01/05/2025 USD 2,300,000 2,814,343 0.69
Splunk Inc. 0.50% 15/09/2023 USD 6,000,000 6,080,141 1.49
Uber Technologies Inc. 0.00% 15/12/2025 USD 2,500,000 2,019,725 0.50
Winnebago Industries Inc. 1.50% 01/04/2025 USD 4,750,000 4,715,652 1.16
Zynga Inc. 0.25% 01/06/2024 USD 2,800,000 3,081,880 0.76
164,496,558 40.43
ADM AG Holding Limited 0.00% 26/08/2023 USD 3,800,000 3,655,130 0.90
Anllian Capital Limited 0.00% 05/02/2025 EUR 3,000,000 3,410,250 0.84
China Conch Venture Holdings International Limited 0.00%
HKD 34,000,000 4,313,291 1.06
05/09/2023
Sail Vantage Limited 0.00% 13/01/2027 HKD 31,000,000 3,433,543 0.84
Smart Insight International Limited 4.50% 05/12/2023 HKD 30,000,000 2,987,984 0.73
17,800,198 4.37
Total Bonds – convertibles 390,739,961 96.04
Cash 15,113,059 3.71

Unrealised
CHF 5,880,579 EUR 5,696,105 14/04/2022 Citibank 35,460 0.01
EUR 1,380,113 CHF 1,413,126 14/04/2022 Citibank 2,795 –
EUR 1,946,557 GBP 1,632,021 14/04/2022 Citibank 16,936 –
EUR 6,672,400 GBP 5,554,441 25/04/2022 HSBC 107,764 0.03
EUR 711,669 HKD 6,126,247 25/04/2022 Citibank 6,843 –
EUR 29,421,647 HKD 253,053,289 25/04/2022 Northern Trust 307,811 0.08
EUR 33,476,335 JPY 4,448,810,728 25/04/2022 HSBC 534,278 0.13
EUR 3,727,198 SGD 5,566,798 25/04/2022 HSBC 25,419 0.01
EUR 1,408,598 USD 1,547,992 14/04/2022 Citibank 14,014 –
EUR 46,515,675 USD 51,173,104 25/04/2022 Citibank 429,585 0.11
EUR 46,520,145 USD 51,173,104 25/04/2022 HSBC 434,058 0.11
EUR 46,541,024 USD 51,173,104 25/04/2022 J.P. Morgan 454,953 0.11
GBP 420,611 EUR 496,139 14/04/2022 Citibank 1,174 –
HKD 23,000,000 EUR 2,631,111 25/04/2022 Citibank 15,059 –
USD 1,634,233 EUR 1,468,272 14/04/2022 Citibank 4,010 –
Total unrealised gain on forward currency exchange contracts – Assets 2,845,993 0.70
CHF 139,502,090 EUR 136,369,926 14/04/2022 Citibank (402,843) (0.10)
EUR 1,774,581 CHF 1,827,371 14/04/2022 Citibank (6,484) –
EUR 2,260 USD 2,515 14/04/2022 Citibank (6) –
EUR 12,089,404 USD 13,500,000 25/04/2022 J.P. Morgan (68,724) (0.02)
EUR 659,400 USD 734,755 25/04/2022 Northern Trust (2,321) –
GBP 58,398,177 EUR 69,528,034 14/04/2022 Citibank (480,661) (0.12)
USD 71,862,348 EUR 65,037,709 14/04/2022 Citibank (296,913) (0.07)
USD 941,017 EUR 854,493 25/04/2022 J.P. Morgan (7,015) –
Net unrealised gain on forward currency exchange contracts – Assets 1,581,026 0.39

Unrealised
91
Jupiter Global Ecology Bond

Quantity/ Market
Nominal Value % of
Bonds
Austria
Mondi Finance Europe GmbH 2.38% 01/04/2028 EUR 350,000 359,103 2.11
Verbund AG 0.90% 01/04/2041 EUR 200,000 172,714 1.01
531,817 3.12
Canada
Canadian National Railway Company 3.60% 31/07/2048 CAD 250,000 169,681 1.00
Canadian National Railway Company 4.45% 20/01/2049 USD 200,000 203,640 1.19
373,321 2.19
Cayman Islands
MAF Sukuk Limited 3.93% 28/02/2030 USD 375,000 338,061 1.98
338,061 1.98
Chile
Empresa De Transporte Me 4.7% 07/05/2050 4.70%
USD 200,000 181,830 1.07
07/05/2050
181,830 1.07
Czech Republic
Energo-Pro AS 4.50% 04/05/2024 EUR 100,000 95,623 0.56
95,623 0.56
Finland
Stora Enso Oyj 0.63% 02/12/2030 EUR 300,000 264,271 1.55
UPM-Kymmene Oyj 0.13% 19/11/2028 EUR 275,000 246,914 1.45
511,185 3.00
France
Paprec Holding SA 4.00% 31/03/2025 EUR 100,000 100,866 0.59
Spcm SA 2.00% 01/02/2026 EUR 100,000 97,341 0.57
Veolia Environnement SA 2.50% 20/04/2169 EUR 100,000 92,420 0.54
290,627 1.70
Germany
Berlin Hyp AG 0.63% 22/10/2025 EUR 100,000 99,226 0.58
Germany (Govt of) 0.00% 15/08/2031 EUR 300,000 285,659 1.67
Infineon Technologies AG 1.13% 24/06/2026 EUR 100,000 99,797 0.59
Mercedes-Benz Group AG 0.75% 10/09/2030 EUR 250,000 234,277 1.37
Techem Verwaltungsgesellschaft 674 2.00% 15/07/2025 EUR 100,000 96,382 0.57
ZF Finance GmbH 2.25% 03/05/2028 EUR 100,000 89,107 0.52
904,448 5.30
Ireland
AIB Group plc FRN 30/05/2031 EUR 100,000 98,699 0.58
ESB Finance DAC 1.13% 11/06/2030 EUR 250,000 242,380 1.42
Johnson Controls International plc 1.75% 15/09/2030 USD 400,000 322,560 1.89
Smurfit Kappa Treasury Ulc 0.50% 22/09/2029 EUR 350,000 314,222 1.84
977,861 5.73
Aptiv plc 4.35% 15/03/2029 USD 150,000 139,192 0.82
139,192 0.82

Quantity/ Market
Nominal Value % of
Bonds
Luxembourg
SIG Combibloc Purchaseco Sarl 2.13% 18/06/2025 EUR 100,000 100,201 0.59
100,201 0.59
Mauritius
Azure Power Energy Limited 3.58% 19/08/2026 USD 200,000 165,566 0.97
Greenko Power II Limited 4.30% 13/12/2028 USD 200,000 170,094 1.00
335,660 1.97
Netherlands
de Volksbank NV 0.01% 16/09/2024 EUR 400,000 394,355 2.32
E.ON International Finance BV 1.25% 19/10/2027 EUR 300,000 298,165 1.75
EDP Finance BV 1.88% 21/09/2029 EUR 200,000 200,501 1.18
Koninklijke DSM NV 0.25% 23/06/2028 EUR 250,000 233,398 1.37
Netherlands (Govt of) 0.50% 15/01/2040 EUR 250,000 234,773 1.38
Signify NV 2.00% 11/05/2024 EUR 170,000 173,058 1.02
TenneT Holding BV 0.50% 09/06/2031 EUR 370,000 336,946 1.98
Triodos Bank NV FRN 05/02/2032 EUR 100,000 94,336 0.55
Trivium Packaging Finance BV 3.75% 15/08/2026 EUR 100,000 98,291 0.58
2,063,823 12.13
New Zealand
Housing New Zealand Limited 1.53% 10/09/2035 NZD 600,000 277,443 1.63
498,310 2.93
Norway
Statkraft AS 1.50% 26/03/2030 EUR 250,000 245,956 1.44
245,956 1.44
Portugal
EDP - Energias de Portugal SA FRN 20/07/2080 EUR 100,000 95,731 0.56
95,731 0.56
Singapore
Vena Energy Capital Pte Limited 3.13% 26/02/2025 USD 500,000 438,919 2.58
438,919 2.58
Supranational
European Investment Bank 0.75% 23/09/2030 USD 300,000 236,399 1.39
Inter-American Investment Corp. 0.63% 10/02/2026 USD 150,000 124,523 0.73
International Bank for Reconstruction & Development 3.13% USD 150,000 137,766 0.81
20/11/2025
796,082 4.67
Sweden
Sweden (Govt of) 0.13% 09/09/2030 SEK 2,000,000 177,482 1.04
Volvo Car AB 2.50% 07/10/2027 EUR 100,000 100,396 0.59
277,878 1.63
93

Quantity/ Market
Nominal Value % of
Bonds
United Kingdom
Aster Treasury plc 1.41% 27/01/2036 GBP 300,000 295,931 1.74
Bazalgette Finance plc 2.75% 10/03/2034 GBP 358,000 417,679 2.45
Cascades Inc. 5.13% 15/01/2026 USD 100,000 90,276 0.53
Clarios Global LP 4.38% 15/05/2026 EUR 100,000 99,222 0.58
Go-Ahead Group plc 2.50% 06/07/2024 GBP 100,000 114,394 0.67
National Express Group plc 2.38% 20/11/2028 GBP 200,000 225,396 1.32
NXP BV 3.40% 01/05/2030 USD 475,000 417,341 2.44
Scottish Hydro Electri 2.125% 24/03/2036 2.13% 24/03/2036 GBP 300,000 314,382 1.84
TC Dudgeon Ofto plc 3.16% 12/11/2038 GBP 200,000 225,245 1.32
Tritax Big Box REIT plc 1.50% 27/11/2033 GBP 300,000 304,966 1.79
Zenith Finco plc 6.50% 30/06/2027 GBP 100,000 108,869 0.63
2,946,294 17.26
United States
Advanced Drainage Systems 5.00% 30/09/2027 USD 100,000 90,308 0.53
American Water Capital Corp. 6.59% 15/10/2037 USD 350,000 410,438 2.41
Avangrid Inc. 3.20% 15/04/2025 USD 300,000 269,380 1.58
Burlington Northern Santa Fe LLC 4.05% 15/06/2048 USD 200,000 192,546 1.13
Darling Ingredients Inc. 5.25% 15/04/2027 USD 100,000 92,147 0.54
Ecolab Inc. 2.13% 01/02/2032 USD 250,000 206,764 1.21
HAT Holdings I LLC 3.75% 15/09/2030 USD 100,000 81,040 0.48
Leeward Renewable Energy Operations LLC 4.25% 01/07/2029 USD 100,000 84,308 0.49
Mueller Water Products Inc. 4.00% 15/06/2029 USD 100,000 85,500 0.50
Norfolk Southern Corp. 2.30% 15/05/2031 USD 500,000 419,428 2.47
Oncor Electric Delivery Company LLC 3.80% 01/06/2049 USD 375,000 342,360 2.02
Owens Corning 3.95% 15/08/2029 USD 350,000 320,593 1.88
Pattern Energy Operations LP 4.50% 15/08/2028 USD 100,000 87,766 0.51
Republic Services Inc. 2.38% 15/03/2033 USD 400,000 324,188 1.90
Waste Management Inc. 4.15% 15/07/2049 USD 100,000 96,746 0.57
Welltower Inc. 2.70% 15/02/2027 USD 200,000 176,077 1.03
Xylem Inc. 2.25% 30/01/2031 USD 500,000 409,519 2.40
3,778,571 22.17
Total Bonds 15,921,390 93.40
Collateralized debt obligations, loans and
assimilated instruments
United Kingdom
Eversholt Funding plc 6.70% 22/02/2035 GBP 200,000 265,276 1.56
265,276 1.56
Total Collateralized debt obligations, loans and
265,276 1.56
16,186,666 94.96
Cash 709,789 4.16

Unrealised
EUR 186,885 CAD 257,715 29/04/2022 Northern Trust 1,617 0.01
EUR 36,108 GBP 30,271 14/04/2022 Citibank 317 –
EUR 19,673 USD 21,645 14/04/2022 Citibank 173 –
GBP 4,834 EUR 5,701 14/04/2022 Citibank 14 –
USD 3,502 EUR 3,137 14/04/2022 Citibank 18 –
EUR 529,160 NZD 847,672 29/04/2022 Northern Trust (49) –
EUR 188,013 SEK 1,946,894 29/04/2022 Northern Trust (260) –
GBP 935,094 EUR 1,113,292 14/04/2022 Citibank (7,681) (0.04)
USD 666,259 EUR 602,920 14/04/2022 Citibank (2,687) (0.02)
95
Jupiter Global Ecology Diversified

Quantity/ Market
Nominal Value % of
Bonds
Austria
Mondi Finance Europe GmbH 2.38% 01/04/2028 EUR 100,000 102,601 0.21
Verbund AG 0.90% 01/04/2041 EUR 500,000 431,784 0.89
534,385 1.10
Canada
Canadian National Railway Company 3.20% 31/07/2028 CAD 100,000 70,671 0.15
357,108 0.73
Cayman Islands
MAF Sukuk Limited 3.93% 28/02/2030 USD 500,000 450,748 0.94
450,748 0.94
Chile
Chile (Govt of) 2.55% 27/01/2032 USD 570,000 484,105 0.99
Empresa De Transporte Me 4.7% 07/05/2050 4.70%
USD 200,000 181,830 0.37
07/05/2050
665,935 1.36
Czech Republic
Energo-Pro AS 4.50% 04/05/2024 EUR 200,000 191,246 0.39
191,246 0.39
Denmark
Orsted A/S FRN 09/12/3019 EUR 100,000 95,776 0.20
95,776 0.20
Finland
Fingrid Oyj 1.13% 23/11/2027 EUR 100,000 98,567 0.20
UPM-Kymmene Oyj 0.13% 19/11/2028 EUR 500,000 448,935 0.92
547,502 1.12
France
Paprec Holding SA 4.00% 31/03/2025 EUR 400,000 403,466 0.83
588,307 1.21
Germany
Berlin Hyp AG 0.13% 05/05/2022 EUR 400,000 400,249 0.83
Berlin Hyp AG 0.63% 22/10/2025 EUR 100,000 99,226 0.20
Infineon Technologies AG 1.13% 24/06/2026 EUR 100,000 99,797 0.20
Kreditanstalt fuer Wiederaufbau 0.75% 30/09/2030 USD 640,000 503,978 1.03
Kreditanstalt fuer Wiederaufbau 1.75% 14/09/2029 USD 350,000 300,614 0.62
ZF Finance GmbH 2.25% 03/05/2028 EUR 300,000 267,321 0.55
1,956,844 4.02
Ireland
AIB Group plc FRN 30/05/2031 EUR 400,000 394,797 0.81
394,797 0.81

Quantity/ Market
Nominal Value % of
Bonds
Luxembourg
Prologis International Funding II SA 0.75% 23/03/2033 EUR 150,000 126,697 0.26
SIG Combibloc Purchaseco Sarl 1.88% 18/06/2023 EUR 300,000 301,675 0.62
428,372 0.88
Mauritius
Azure Power Energy Limited 3.58% 19/08/2026 USD 200,000 165,566 0.34
Greenko Power II Limited 4.30% 13/12/2028 USD 200,000 170,094 0.35
335,660 0.69
Netherlands
EDP Finance BV 1.88% 21/09/2029 EUR 300,000 300,751 0.62
Koninklijke DSM NV 0.25% 23/06/2028 EUR 150,000 140,039 0.29
Nederlandse Waterschapsbank NV 1.00% 28/05/2030 USD 300,000 239,699 0.49
Nederlandse Waterschapsbank NV 2.38% 24/03/2026 USD 200,000 178,561 0.37
Netherlands (Govt of) 0.50% 15/01/2040 EUR 700,000 657,365 1.35
Signify NV 2.00% 11/05/2024 EUR 100,000 101,799 0.21
TenneT Holding BV 0.50% 09/06/2031 EUR 500,000 455,332 0.93
TenneT Holding BV FRN Perp EUR 300,000 307,108 0.63
Triodos Bank NV FRN 05/02/2032 EUR 200,000 188,672 0.39
Wabtec Transportation Netherlands BV 1.25% 03/12/2027 EUR 500,000 474,397 0.97
3,240,305 6.65
New Zealand
1,389,395 2.85
Norway
Mowi ASA FRN 31/01/2025 EUR 100,000 100,914 0.21
Statkraft AS 1.13% 20/03/2025 EUR 200,000 200,242 0.41
301,156 0.62
Portugal
474,223 0.97
Singapore
Vena Energy Capital Pte Limited 3.13% 26/02/2025 USD 499,000 438,042 0.90
438,042 0.90
Supranational
Asian Development Bank 3.13% 26/09/2028 USD 325,000 304,548 0.63
Inter-American Investment Corp. 0.63% 10/02/2026 USD 200,000 166,031 0.34
International Bank for Reconstruction & Development 1.25%
USD 400,000 325,342 0.67
10/02/2031
1,150,519 2.36
97

Quantity/ Market
Nominal Value % of
Bonds
Sweden
Sweden (Govt of) 0.13% 09/09/2030 SEK 9,000,000 798,670 1.65
798,670 1.65
United Kingdom
Aster Treasury plc 1.41% 27/01/2036 GBP 101,000 99,630 0.20
Atlantica Sustainable Infrastructure plc 4.13% 15/06/2028 USD 200,000 174,622 0.36
Barclays plc FRN 03/11/2026 GBP 300,000 337,612 0.69
Cascades Inc. 5.13% 15/01/2026 USD 100,000 90,276 0.19
Clarios Global LP 4.38% 15/05/2026 EUR 300,000 297,666 0.61
Go-Ahead Group plc 2.50% 06/07/2024 GBP 100,000 114,394 0.23
Mondi Finance plc 1.63% 27/04/2026 EUR 500,000 505,661 1.04
National Express Group plc 2.38% 20/11/2028 GBP 300,000 338,094 0.69
NXP BV 3.40% 01/05/2030 USD 482,000 423,491 0.87
Scottish Hydro Electri 2.125% 24/03/2036 2.13% 24/03/2036 GBP 600,000 628,763 1.28
TC Dudgeon Ofto plc 3.16% 12/11/2038 GBP 100,000 112,622 0.23
Tritax Big Box REIT plc 1.50% 27/11/2033 GBP 400,000 406,622 0.83
5,189,611 10.63
United States
Advanced Drainage Systems 5.00% 30/09/2027 USD 300,000 270,923 0.56
Aquarion Company 4.00% 15/08/2024 USD 100,000 91,296 0.19
Avangrid Inc. 3.15% 01/12/2024 USD 200,000 180,038 0.37
Avangrid Inc. 3.20% 15/04/2025 USD 200,000 179,587 0.37
Avangrid Inc. 3.80% 01/06/2029 USD 500,000 456,652 0.94
Ecolab Inc. 2.13% 01/02/2032 USD 500,000 413,528 0.85
Mueller Water Products Inc. 4.00% 15/06/2029 USD 450,000 384,751 0.79
National Rural Utilities Cooperative Finance Corp. 1.35%
USD 300,000 227,704 0.47
15/03/2031
Niagara Mohawk Power Corp. 1.96% 27/06/2030 USD 575,000 462,574 0.95
Oncor Electric Delivery Company LLC 3.80% 01/06/2049 USD 150,000 136,944 0.28
Owens Corning 3.95% 15/08/2029 USD 500,000 457,990 0.94
Pattern Energy Operations LP 4.50% 15/08/2028 USD 400,000 351,066 0.72

Quantity/ Market
Nominal Value % of
Bonds
Stericycle Inc. 5.38% 15/07/2024 USD 140,000 128,497 0.26
Toyota Motor Credit Corp. 2.15% 13/02/2030 USD 250,000 209,104 0.43
Xylem Inc. 2.25% 30/01/2031 USD 500,000 409,520 0.84
Xylem Inc. 3.25% 01/11/2026 USD 125,000 112,592 0.23
7,190,244 14.78
Total Bonds 26,718,845 54.86
United Kingdom
Eversholt Funding plc 6.70% 22/02/2035 GBP 400,000 530,552 1.09
Greater Gabbard OFTO plc 4.14% 29/11/2032 GBP 340,000 316,649 0.65
847,201 1.74
847,201 1.74
Equities
Belgium
Umicore SA EUR 3,101 120,815 0.25
120,815 0.25
Canada
Canadian National Railway Company CAD 1,174 144,046 0.30
Innergex Renewable Energy Inc. CAD 34,065 490,040 1.00
634,086 1.30
China
Flat Glass Group Company Limited - H HKD 76,000 265,077 0.54
265,077 0.54
Denmark
Orsted A/S DKK 4,078 457,128 0.94
Vestas Wind Systems AS DKK 25,180 677,041 1.39
1,134,169 2.33
France
1,423,758 2.93
Germany
236,829 0.49
99

Quantity/ Market
Nominal Value % of
Equities
Ireland
Greencoat Renewables plc EUR 256,643 290,648 0.60
Johnson Controls International plc USD 8,347 504,033 1.03
Kingspan Group plc EUR 4,631 412,807 0.85
Kingspan Group plc EUR 859 76,571 0.16
Linde plc EUR 1,434 419,087 0.86
Pentair Limited USD 4,071 207,008 0.43
1,910,154 3.93
Isle of Man
Agronomics Limited GBP 291,945 67,345 0.14
67,345 0.14
Italy
Prysmian SpA EUR 18,483 575,191 1.18
575,191 1.18
Japan
Azbil Corp. JPY 13,000 393,806 0.81
Daikin Industries Limited JPY 2,800 464,746 0.95
Kubota Corp. JPY 15,900 271,211 0.56
1,129,763 2.32
Aptiv plc USD 4,420 486,636 1.00
486,636 1.00
Netherlands
Koninklijke DSM NV EUR 4,857 799,583 1.64
799,583 1.64
Norway
Borregaard ASA NOK 21,728 399,411 0.82
Tomra Systems ASA NOK 8,401 396,814 0.81
796,225 1.63
Sweden
Alfa Laval AB SEK 10,384 324,460 0.67
Re:newcell AB SEK 6,082 75,192 0.15
744,559 1.53
United Kingdom
Ceres Power Holdings plc GBP 17,369 151,481 0.31
National Grid plc GBP 21,181 295,413 0.61
446,894 0.92

Quantity/ Market
Nominal Value % of
Equities
United States
Acuity Brands Inc. USD 3,226 564,256 1.16
Advanced Drainage Systems USD 5,618 628,459 1.29
CSX Corp. USD 13,926 474,430 0.97
Ecolab Inc. USD 2,066 335,908 0.69
Emerson Electric Company USD 6,247 557,278 1.14
Essential Utilities Inc. USD 6,992 327,623 0.67
First Solar Inc. USD 4,719 348,497 0.72
Monolithic Power Systems Inc. USD 944 415,528 0.85
MSA Safety Inc. USD 4,169 511,755 1.05
Mueller Water Products Inc. – A USD 21,388 248,857 0.51
NextEra Energy Operating Partners USD 3,992 302,759 0.62
Regal Rexnord Corp. USD 4,737 647,439 1.33
Republic Services Inc. USD 4,100 497,706 1.03
Thermo Fisher Scientific Inc. USD 1,598 857,149 1.76
Trimble Navigation Limited USD 7,670 504,005 1.03
7,221,649 14.82
Warrants Equity
United Kingdom
Agronomics Limited – Wts GBP 267,527 – –
– –
Total Warrants Equity – –
Cash 3,014,061 6.19
101

Unrealised
EUR 706,004 CAD 973,581 29/04/2022 Northern Trust 6,108 0.01
EUR 611,161 GBP 513,174 14/04/2022 Citibank 4,412 –
EUR 4,298,195 GBP 3,624,787 29/04/2022 HSBC 14,730 0.03
EUR 316,485 HKD 2,729,352 29/04/2022 Northern Trust 2,499 0.01
EUR 1,056,666 NOK 10,079,391 29/04/2022 Citibank 18,809 0.04
GBP 258,797 EUR 305,263 14/04/2022 Citibank 726 –
EUR 35 GBP 30 14/04/2022 Citibank – –
EUR 139,956 JPY 19,062,024 02/05/2022 HSBC (1,182) –
EUR 1,398,536 NZD 2,240,183 29/04/2022 HSBC (29) –
EUR 1,630,137 SEK 16,884,716 29/04/2022 HSBC (2,690) (0.01)
GBP 23,393,437 EUR 27,852,579 14/04/2022 Citibank (193,233) (0.38)

Quantity/ Market
Nominal Value % of
Equities
Aptiv plc USD 3,754 413,310 1.91
Borgwarner Inc. USD 5,925 211,571 0.97
624,881 2.88
Biotechnology
Novozymes A/S DKK 4,403 275,193 1.27
275,193 1.27
Building materials
AO Smith Corp. USD 6,864 409,842 1.89
Daikin Industries Limited JPY 3,200 531,139 2.44
Johnson Controls International plc USD 8,849 534,345 2.46
Owens Corning USD 5,240 446,242 2.05
1,921,568 8.84
Chemicals
Borregaard ASA NOK 24,193 444,723 2.05
Koninklijke DSM NV EUR 4,272 703,278 3.23
Linde plc EUR 1,756 513,191 2.36
Umicore SA EUR 6,750 262,980 1.21
1,924,172 8.85
Commercial services
Brambles Limited AUD 24,946 166,871 0.77
166,871 0.77
Consumer goods
Shimano Inc. JPY 1,400 291,944 1.34
291,944 1.34
Distribution and wholesale
Lkq Corp. USD 11,120 468,733 2.16
468,733 2.16
Electrical equipment
Acuity Brands Inc. USD 2,252 393,894 1.81
1,074,819 4.95
Electrical utilities
Orsted A/S DKK 3,750 420,361 1.93
420,361 1.93
Electronic equipment
Azbil Corp. JPY 9,200 278,694 1.28
Flat Glass Group Company Limited - H HKD 97,000 338,322 1.56
Horiba Limited JPY 5,500 272,931 1.26
Sensata Technologies Holding plc USD 7,775 364,452 1.68
Thermo Fisher Scientific Inc. USD 1,255 673,168 3.10
Trimble Navigation Limited USD 6,902 453,539 2.08
2,381,106 10.96
103

Quantity/ Market
Nominal Value % of
Equities
Energy – alternate sources
First Solar Inc. USD 5,140 379,588 1.75
Ormat Technologies Inc. USD 3,106 223,023 1.03
Vestas Wind Systems AS DKK 22,809 613,288 2.81
1,215,899 5.59
Engineering and construction
Stantec Inc. CAD 10,039 456,075 2.10
456,075 2.10
Environment control and services
Befesa SA EUR 5,965 433,059 1.99
Casella Waste Systems Inc. - A USD 4,113 327,691 1.51
Clean Harbors Inc. USD 3,421 347,172 1.60
Daiseki Company Limited JPY 10,340 353,817 1.63
Renewi plc GBP 47,076 373,672 1.72
Republic Services Inc. USD 4,715 572,361 2.63
Tomra Systems ASA NOK 9,864 465,918 2.14
Waste Connections Inc. USD 4,917 619,040 2.85
3,492,730 16.07
Food
Corbion NV EUR 7,458 234,554 1.08
234,554 1.08
Hand and Machine Tools
Regal Rexnord Corp. USD 4,646 635,001 2.92
635,001 2.92
Healthcare services
Eurofins Scientific SE EUR 3,063 277,921 1.28
277,921 1.28
Industrials
Alfa Laval AB SEK 15,173 474,098 2.18
474,098 2.18
Agronomics Limited GBP 421,445 97,218 0.45
97,218 0.45
Machinery
Roper Industries Inc. USD 900 387,984 1.79
Xylem Inc. USD 3,996 317,289 1.45
984,993 4.53
Metal fabrication
Advanced Drainage Systems USD 4,496 502,946 2.31
502,946 2.31
Miscellaneous Machinery
194,961 0.90

Quantity/ Market
Nominal Value % of
Equities
Semiconductors
Infineon Technologies AG EUR 18,785 584,261 2.69
Monolithic Power Systems Inc. USD 1,043 459,106 2.11
1,043,367 4.80
Water utilities
Pentair Limited USD 3,990 202,889 0.93
Watts Water Technologies Inc. USD 3,089 399,199 1.84
1,224,746 5.64
Wires and Ropes
Prysmian SpA EUR 15,667 487,557 2.24
487,557 2.24
Funds
Closed–ended Funds
Jupiter Green Investment Trust plc† GBP 69,103 178,206 0.82
178,206 0.82
Warrants Equity
Agronomics Limited – Wts GBP 393,939 – –
– –
Total Warrants Equity – –
21,049,920 96.86
Cash 722,605 3.33
†
Related Party Fund
105
Jupiter Global Emerging Markets Corporate Bond

Quantity/ Market
Nominal Value % of
Bonds
Angola
Angola (Govt of) 8.25% 09/05/2028 USD 1,500,000 1,537,511 0.52
1,537,511 0.52
Argentina
Argentina (Govt of) 2.00% 09/01/2038 USD 3,900,000 1,466,274 0.50
Pampa Energia SA 7.50% 24/01/2027 USD 2,300,000 2,005,313 0.68
YPF SA 4.00% 12/02/2026 USD 1,550,000 1,386,281 0.47
YPF SA 6.95% 21/07/2027 USD 2,200,000 1,632,114 0.55
6,489,982 2.20
Austria
Iochpe-Maxion Austria GmbH Maxion Wheels de Mexico S
USD 1,550,000 1,408,353 0.48
de RL de CV 5.00% 07/05/2028
1,408,353 0.48
Bahrain
Bahrain (Govt of) 5.25% 25/01/2033 USD 2,000,000 1,848,682 0.63
Kingdom of Bahrain 6.00% 19/09/2044 USD 2,150,000 1,893,209 0.64
3,741,891 1.27
Bermuda
China Oil & Gas Group 4.70% 30/06/2026 USD 2,298,000 2,198,878 0.74
Geopark Limited 5.50% 17/01/2027 USD 2,400,000 2,277,000 0.77
Inkia Energy Limited 5.88% 09/11/2027 USD 3,050,000 2,960,024 1.01
Investment Energy Resources Limited 6.25% 26/04/2029 USD 1,600,000 1,628,373 0.55
Qatar Reinsurance Company Limited FRN 13/09/2169 USD 3,200,000 3,164,271 1.07
Tengizchevroil Finance Company 3.25% 15/08/2030 USD 1,600,000 1,275,000 0.43
18,841,144 6.38
Brazil
1,514,778 0.51
Canada
Canacol Energy Limited 5.75% 24/11/2028 USD 3,200,000 2,983,552 1.01
First Quantum Minerals 7.50% 01/04/2025 USD 1,500,000 1,527,188 0.52
First Quantum Minerals Limited 6.88% 15/10/2027 USD 700,000 735,263 0.25
International Petroleum Corp.Sweden 7.25% 01/02/2027 USD 1,500,000 1,503,100 0.51
MEGlobal Canada ULCDL 5.88% 18/05/2030 USD 1,000,000 1,107,853 0.38
9,282,331 3.15
Cayman Islands
Alibaba Group Holding 3.25% 09/02/2061 USD 2,100,000 1,585,298 0.53
Alpha Star Holding III Limited 6.25% 20/04/2022 USD 1,500,000 1,501,786 0.51
Arabian Centres Sukuk II Limited 5.63% 07/10/2026 USD 2,300,000 2,176,758 0.74
CK Hutchison International 19 Limited 3.63% 11/04/2029 USD 2,100,000 2,123,290 0.72
Country Garden Hldgs 5.125% 17/01/2025 5.13% 17/01/2025 USD 400,000 311,288 0.11

Quantity/ Market
Nominal Value % of
Bonds
Cayman Islands (continued)
Country Garden Holdings 5.40% 27/05/2025 USD 500,000 385,205 0.13
Country Garden Holdings Company Limited 2.70%
USD 2,200,000 1,583,010 0.54
12/07/2026
Dar Al-Arkan Sukuk Company Limited 6.88% 10/04/2022 USD 2,600,000 2,608,576 0.87
Dar Al-Arkan Sukuk Company Limited 6.88% 21/03/2023 USD 800,000 808,503 0.27
DP World Salaam FRN Perp USD 3,000,000 3,110,391 1.06
Energuate Trust 5.88% 03/05/2027 USD 3,400,000 3,342,413 1.13
Kaisa Group Holdings Limited 11.25% 09/04/2022 USD 570,000 109,600 0.04
Melco Resorts Finance 5.75% 21/07/2028 5.75% 21/07/2028 USD 2,500,000 2,219,271 0.76
MGM China Holdings Limited 4.75% 01/02/2027 USD 2,124,000 1,869,112 0.63
Redsun Properties Group Limited 7.30% 13/01/2025 USD 500,000 80,000 0.03
Redsun Properties Group Limited 9.70% 16/04/2023 USD 2,000,000 356,000 0.12
Sable International Finance Limited 5.75% 07/09/2027 USD 1,633,000 1,639,328 0.56
Sands China Limited 3.10% 08/03/2029 USD 2,300,000 1,950,087 0.66
Shui On Development Holding Limited 5.50% 29/06/2026 USD 2,200,000 2,003,996 0.68
Times China Holdings Limited 5.55% 04/06/2024 USD 2,000,000 900,540 0.31
Zhenro Properties Group Limited 6.63% 07/01/2026 USD 2,000,000 238,250 0.08
Zhenro Properties Group Limited 9.15% 06/05/2023 USD 900,000 106,602 0.04
32,334,595 10.96
Chile
AES Andes SA FRN 26/03/2079 USD 1,900,000 1,921,945 0.65
VTR Comunicaciones SpA 5.13% 15/01/2028 USD 2,500,000 2,381,802 0.81
4,303,747 1.46
Colombia
Colombia Telecomunicaciones SA 4.95% 17/07/2030 USD 3,000,000 2,754,678 0.93
Ecopetrol Sa 4.625% 02/11/2031 4.63% 02/11/2031 USD 1,600,000 1,458,520 0.49
4,213,198 1.42
Czech Republic
Energo-Pro AS 8.50% 04/02/2027 USD 2,880,000 2,759,461 0.94
2,759,461 0.94
Dominican Republic
Empresa Generadora de Electricidad Haina SA 5.63%
USD 2,593,000 2,405,645 0.81
08/11/2028
2,405,645 0.81
Ecuador
Ecuador (Govt of) 5.00% 31/07/2030 USD 3,650,000 3,061,736 1.04
3,061,736 1.04
Egypt
Egypt (Govt of) 6.59% 21/02/2028 USD 1,600,000 1,481,436 0.50
1,481,436 0.50
107

Quantity/ Market
Nominal Value % of
Bonds
Georgia
Georgia Global Utilities JSC 7.75% 30/07/2025 USD 2,400,000 2,423,100 0.82
2,423,100 0.82
Guatemala
CT Trust 5.13% 03/02/2032 USD 1,837,000 1,839,296 0.62
1,839,296 0.62
Hong Kong
Airport Authority Hong Kong 2.63% 04/02/2051 USD 1,005,000 810,822 0.27
Gemdale Ever Prosperity 4.95% 12/08/2024 USD 800,000 748,488 0.25
Yanlord Land HK Company Limited 5.13% 20/05/2026 USD 1,700,000 1,521,288 0.52
3,080,598 1.04
India
Adani Green Energy Limited 4.38% 08/09/2024 USD 2,933,000 2,876,893 0.97
JSW Hydro Energy Limited 4.13% 18/05/2031 USD 1,550,000 1,407,961 0.48
Jsw Steel Ltd 3.95% 05/04/2027 3.95% 05/04/2027 USD 1,500,000 1,423,299 0.48
5,708,153 1.93
Indonesia
Pakuwon Jati Tbk Pt 4.88% 29/04/2028 USD 2,350,000 2,254,633 0.76
2,254,633 0.76
Ireland
Aragvi Finance International DAC 8.45% 29/04/2026 USD 3,200,000 2,652,944 0.90
C&W Senior Financing DAC 6.88% 15/09/2027 USD 1,550,000 1,540,313 0.52
Gtlk Europe Capital DAC 4.65% 10/03/2027 USD 3,100,000 727,725 0.25
4,920,982 1.67
Isle of Man
Gohl Capital Limited 4.25% 24/01/2027 USD 2,100,000 1,994,536 0.68
1,994,536 0.68
Israel
Energean Israel Finance Limited 5.38% 30/03/2028 USD 1,600,000 1,540,133 0.52
ICL Group Limited 6.38% 31/05/2038 USD 1,518,000 1,675,493 0.57
3,215,626 1.09
Petropavlovsk 2016 Limited 8.13% 14/11/2022 USD 2,000,000 724,650 0.25
West China Cement Limited 4.95% 08/07/2026 USD 1,500,000 1,317,390 0.45
2,042,040 0.70
Jordan
Jordan (Govt of) 5.85% 07/07/2030 USD 3,100,000 2,891,383 0.99
2,891,383 0.99
Luxembourg
Adecoagro SA 6.00% 21/09/2027 USD 3,300,000 3,321,586 1.13
CSN Resources SA 4.63% 10/06/2031 USD 3,300,000 3,008,383 1.02
Gol Finance SA 7.00% 31/01/2025 USD 1,600,000 1,307,829 0.44
Kenbourne Invest SA 4.70% 22/01/2028 USD 3,172,000 2,797,158 0.95
Kernel Holding SA 6.50% 17/10/2024 USD 1,800,000 882,000 0.30
Nexa Resources SA 5.38% 04/05/2027 USD 3,000,000 3,056,837 1.04
Puma International Financing SA 5.00% 24/01/2026 USD 3,400,000 3,216,192 1.09
Unigel Luxembourg SA 8.75% 01/10/2026 USD 1,800,000 1,905,120 0.65
19,495,105 6.62

Quantity/ Market
Nominal Value % of
Bonds
Marshall Islands
Nakilat Inc. 6.07% 31/12/2033 USD 1,750,000 1,886,156 0.64
1,886,156 0.64
Mauritius
Axian Telecom 7.38% 16/02/2027 USD 2,859,000 2,798,246 0.95
Clean Renewable Power Mauritius Pte Limited 4.25%
USD 1,578,000 1,490,553 0.50
25/03/2027
Greenko Power II Limited 4.30% 13/12/2028 USD 1,500,000 1,415,456 0.48
HTA Group Limited 7.00% 18/12/2025 USD 3,025,000 2,983,376 1.01
Network I2i Limited FRN Perp USD 2,190,000 2,185,620 0.74
12,393,126 4.19
Mexico
Alsea SAB de CV 7.75% 14/12/2026 USD 3,150,000 3,263,539 1.11
America Movil Sab de CV 5.38% 04/04/2032 USD 1,149,000 1,149,000 0.39
Banco Mercantil del Norte SA 5.88% 31/12/2049 USD 2,870,000 2,651,975 0.90
Braskem Idesa SAPI 7.45% 15/11/2029 USD 3,100,000 3,157,454 1.06
Cibanco SA 4.38% 22/07/2031 USD 2,667,000 2,223,611 0.75
Cydsa SAB de CV 6.25% 04/10/2027 USD 3,200,000 3,068,000 1.03
Grupo KUO SAB De CV 5.75% 07/07/2027 USD 3,000,000 2,970,534 1.01
Mexico City Airport Trust 5.50% 31/07/2047 USD 3,300,000 2,906,063 0.98
21,390,176 7.23
Netherlands
BOI Finance BV 7.50% 16/02/2027 EUR 2,196,000 2,415,397 0.82
Braskem Netherlands 8.50% 23/01/2081 USD 1,850,000 2,039,172 0.69
Embraer Netherlands Finance BV 6.95% 17/01/2028 USD 2,600,000 2,764,463 0.94
Equate Petrochemical BV 2.63% 28/04/2028 USD 2,000,000 1,858,458 0.63
IHS Netherlands Holdco BV 8.00% 18/09/2027 USD 3,000,000 3,011,125 1.02
Mong Duong Finance Holdings BV 5.13% 07/05/2029 USD 1,500,000 1,348,125 0.46
NGD Holdings BV 6.75% 31/12/2026 USD 1,000,000 337,500 0.11
Prosus NV 3.83% 08/02/2051 USD 2,000,000 1,462,128 0.50
Teva Pharmaceutical Finance Netherlands III BV 5.13%
USD 1,493,000 1,433,342 0.49
09/05/2029
USD 1,400,000 1,469,113 0.50
01/03/2028
USD 1,400,000 1,473,653 0.49
31/01/2025
19,612,476 6.65
Nigeria
Seplat Energy plc 7.75% 01/04/2026 USD 2,300,000 2,212,066 0.75
2,212,066 0.75
Oman
Oman (Govt of) 6.50% 08/03/2047 USD 800,000 781,173 0.26
Oq Saoc 5.13% 06/05/2028 USD 3,000,000 2,972,055 1.01
3,753,228 1.27
109

Quantity/ Market
Nominal Value % of
Bonds
Panama
Global Bank Corp. FRN 16/04/2029 USD 2,145,000 2,040,431 0.69
2,040,431 0.69
Peru
Banco de Credito del Peru FRN 01/07/2030 USD 2,700,000 2,546,438 0.86
Camposol SA 6.00% 03/02/2027 USD 2,200,000 2,076,745 0.70
4,623,183 1.56
Philippines
Globe Telecom Inc. FRN Perp USD 2,600,000 2,549,300 0.86
2,549,300 0.86
Saudi Arabia
Saudi Arabian Oil Company 4.25% 16/04/2039 USD 2,300,000 2,356,096 0.80
2,356,096 0.80
Singapore
Medco Bell Pte Limited 6.38% 30/01/2027 USD 3,200,000 3,115,189 1.06
TML Holdings Pte Limited 4.35% 09/06/2026 USD 1,613,000 1,534,560 0.52
United Overseas Bank Limited FRN Perp USD 2,300,000 2,298,778 0.78
6,948,527 2.36
South Africa
Absa Group Limited 6.38% 27/11/2169 USD 3,100,000 3,026,023 1.02
South Africa (Govt of) 8.00% 31/01/2030 ZAR 11,000,000 694,073 0.24
3,720,096 1.26
Spain
AI Candelaria Spain SA 7.50% 15/12/2028 USD 2,750,000 2,701,256 0.91
2,701,256 0.91
Thailand
Bangkok Bank pcl FRN 25/09/2034 USD 2,400,000 2,245,637 0.76
GC Treasury Center Company Limited 4.30% 18/03/2051 USD 1,500,000 1,399,229 0.47
3,644,866 1.23
Turkey
Aydem Yenilenebilir Enerji AS 7.75% 02/02/2027 USD 1,400,000 1,111,250 0.38
Turkey (Govt of) 4.88% 16/04/2043 USD 1,700,000 1,214,287 0.41
Turkiye Vakiflar Bankasi TAO 6.50% 08/01/2026 USD 2,100,000 2,012,652 0.68
4,338,189 1.47
Ukraine
Ukraine (Govt of) 7.75% 01/09/2026 USD 900,000 395,854 0.13
Ukraine (Govt of) 8.99% 01/02/2024 USD 1,500,000 691,113 0.23
1,086,967 0.36
United Arab Emirates
ACWA Power Management and Investments One Limited
USD 2,600,000 2,785,084 0.94
5.95% 15/12/2039
DAE Sukuk Difc Limited 3.75% 15/02/2026 USD 2,265,000 2,221,394 0.75
Emirates NBD PJSC FRN Perp USD 3,000,000 3,054,845 1.04
NBK Tier 1 Limited FRN 31/12/2049 USD 3,200,000 2,968,960 1.01
11,030,283 3.74

Quantity/ Market
Nominal Value % of
Bonds
United Kingdom
Energean plc 6.50% 30/04/2027 USD 1,600,000 1,529,900 0.52
Liquid Telecommunications Financing plc 5.50% 04/09/2026 USD 2,325,000 2,246,468 0.76
Tullow Oil plc 10.25% 15/05/2026 USD 1,500,000 1,526,077 0.52
Vedanta Resources Finance II plc 8.95% 11/03/2025 USD 1,959,000 1,913,404 0.65
Vedanta Resources plc 6.38% 30/07/2022 USD 800,000 780,729 0.26
11,573,279 3.93
United States
DAE Funding LLC 3.38% 20/03/2028 USD 1,004,000 945,226 0.32
Mercury Chile Holdingco LLC 6.50% 24/01/2027 USD 2,500,000 2,402,813 0.81
Sasol Financing USA LLC 6.50% 27/09/2028 USD 2,800,000 2,859,327 0.97
Stillwater Mining Company 4.50% 16/11/2029 USD 3,400,000 3,180,250 1.07
Teva Pharmaceutical Finance Company LLC 6.15%
USD 700,000 704,121 0.24
01/02/2036
10,091,737 3.41
Uzbekistan
Uzbekneftegaz Jsc 4.75% 16/11/2028 USD 3,200,000 2,606,260 0.88
2,606,260 0.88
Huarong Finance 2019 Company Limited 4.50% 29/05/2029 USD 1,000,000 947,837 0.32
Huarong Finance II 5.50% 16/01/2025 USD 1,200,000 1,218,054 0.41
RKPF Overseas 2019 A Limited 6.00% 04/09/2025 USD 1,329,000 1,021,669 0.35
Studio City Finance Limited 5.00% 15/01/2029 USD 2,100,000 1,627,752 0.55
4,815,312 1.63
Total Bonds 278,614,270 94.38
Mexico
Cometa Energia SA 6.38% 24/04/2035 USD 2,900,000 2,640,927 0.89
2,640,927 0.89
Total Mortgage and Asset Backed Securities 2,640,927 0.89
281,255,197 95.27
Funds
WisdomTree WTI Crude Oil USD 129,000 1,274,520 0.43
1,274,520 0.43
Total Funds 1,274,520 0.43
Total Other undertakings for collective investments 1,274,520 0.43
Cash 7,660,471 2.59
111

Unrealised
CHF 59,720 USD 64,499 14/04/2022 Citibank 109 –
EUR 14,232,508 USD 15,728,494 14/04/2022 Citibank 69,607 0.02
SEK 38,688,132 USD 3,986,768 14/04/2022 Citibank 166,827 0.05
USD 357 GBP 271 14/04/2022 Citibank 1 –
USD 3,035,714 TWD 85,000,000 31/05/2022 Citibank 61,323 0.02
CHF 329 USD 357 14/04/2022 Citibank (1) –
EUR 242,222 USD 269,650 14/04/2022 Citibank (783) –
GBP 46,750 USD 61,509 14/04/2022 Citibank (153) –
SEK 696,342 USD 75,076 14/04/2022 Citibank (315) –
TWD 85,000,000 USD 2,995,067 31/05/2022 Citibank (20,832) (0.01)
USD 907 CHF 847 14/04/2022 Citibank (11) –
USD 926,037 EUR 840,248 14/04/2022 Citibank (6,637) –
USD 2,425,596 EUR 2,196,000 29/04/2022 Northern Trust (13,068) –
USD 493 GBP 378 14/04/2022 Citibank (3) –
USD 165,751 SEK 1,593,819 14/04/2022 Citibank (5,360) –

Unrealised
Security Description Contracts Currency USD Net Assets
US 5 Year Note, 30/06/2022 (169) USD 28,675 0.01
US Ultra 10 Year Note, 21/06/2022 (23) USD (7,367) –
Total unrealised loss on financial future contracts – Liabilities (7,367) –
Net unrealised gain on financial future contracts – Assets 21,308 0.01

Quantity/ Market
Nominal Value % of
Bonds
Angola
Angola (Govt of) 9.50% 12/11/2025 USD 3,000,000 3,292,802 1.11
3,292,802 1.11
Argentina
Pampa Energia SA 7.38% 21/07/2023 USD 1,600,000 1,583,000 0.54
YPF SA 4.00% 12/02/2026 USD 2,500,000 2,235,938 0.76
3,818,938 1.30
Bahrain
Bahrain (Govt of) 7.00% 26/01/2026 USD 2,700,000 2,921,347 1.00
Oil and Gas Holding Company BSC 7.63% 07/11/2024 USD 2,900,000 3,066,798 1.06
5,988,145 2.06
Bermuda
China Oil & Gas Group 4.70% 30/06/2026 USD 3,102,000 2,968,199 1.02
Inkia Energy Limited 5.88% 09/11/2027 USD 2,800,000 2,717,400 0.93
Qatar Reinsurance Company Limited FRN 13/09/2169 USD 3,050,000 3,015,946 1.03
Tengizchevroil Finance Company 2.63% 15/08/2025 USD 3,100,000 2,736,874 0.93
15,858,861 5.42
Brazil
1,577,894 0.54
Canada
MEGlobal Canada ULCDL 5.00% 18/05/2025 USD 2,800,000 2,892,726 0.99
4,204,995 1.44
Cayman Islands
Almarai Sukuk Limited 4.31% 05/03/2024 USD 1,600,000 1,633,952 0.56
Alpha Star Holding III Limited 6.25% 20/04/2022 USD 1,204,000 1,205,434 0.41
Alpha Star Holding V Limited 6.63% 18/04/2023 USD 600,000 610,304 0.21
Arabian Centres Sukuk II Limited 5.63% 07/10/2026 USD 300,000 283,925 0.10
Arabian Centres Sukuk Limited 5.38% 26/11/2024 USD 2,700,000 2,612,588 0.88
BOS Funding Limited 4.00% 18/09/2024 USD 3,000,000 3,007,146 1.03
Country Garden Hldgs 5.125% 17/01/2025 5.13% 17/01/2025 USD 400,000 311,288 0.11
Country Garden Holdings 5.40% 27/05/2025 USD 500,000 385,205 0.13
Country Garden Holdings Company Limited 2.70%
USD 2,000,000 1,439,100 0.49
12/07/2026
Dar Al-Arkan Sukuk Company Limited 6.88% 10/04/2022 USD 2,300,000 2,307,587 0.79
Dar Al-Arkan Sukuk Company Limited 6.88% 21/03/2023 USD 800,000 808,503 0.28
DP World Salaam FRN Perp USD 2,117,000 2,194,899 0.75
Golden Eagle Retail Group Limited 4.63% 21/05/2023 USD 2,500,000 2,424,875 0.83
Industrial Senior Trust 5.50% 01/11/2022 USD 3,000,000 3,014,614 1.03
Kaisa Group Holdings Limited 11.25% 09/04/2022 USD 960,000 184,589 0.06
KWG Group Holdings Limited 5.95% 10/08/2025 USD 1,800,000 720,234 0.25
113

Quantity/ Market
Nominal Value % of
Bonds
Cayman Islands (continued)
Lamar Funding Limited 3.96% 07/05/2025 USD 2,400,000 2,358,516 0.81
MAF Sukuk Limited 4.50% 03/11/2025 USD 1,900,000 1,961,988 0.67
MAR Sukuk Limited 2.21% 02/09/2025 USD 2,236,000 2,161,175 0.74
Meituan 2.125% 28/10/2025 2.13% 28/10/2025 USD 1,600,000 1,418,966 0.48
QIB Sukuk Limited 1.95% 27/10/2025 USD 2,100,000 2,007,333 0.69
QIB Sukuk Limited 3.98% 26/03/2024 USD 1,766,000 1,795,823 0.61
QIIB Senior Sukuk Limited 4.26% 05/03/2024 USD 1,700,000 1,738,835 0.59
Sable International Finance Limited 5.75% 07/09/2027 USD 2,178,000 2,186,440 0.75
Sands China Ltd 5.125% 08/08/2025 5.13% 08/08/2025 USD 1,500,000 1,487,355 0.51
Saudi Electricity Global Sukuk Company 4.22% 27/01/2024 USD 1,929,000 1,970,452 0.67
Shui On Development Holding Limited 5.50% 29/06/2026 USD 2,200,000 2,003,996 0.68
Times China Holdings Limited 5.55% 04/06/2024 USD 500,000 225,135 0.08
Zhenro Properties Group Limited 9.15% 06/05/2023 USD 850,000 100,679 0.03
46,867,523 16.01
Chile
AES Andes SA FRN 26/03/2079 USD 1,600,000 1,618,480 0.55
GNL Quintero SA 4.63% 31/07/2029 USD 2,774,000 2,489,598 0.85
4,108,078 1.40
Colombia
Bancolombia SA 3.00% 29/01/2025 USD 2,400,000 2,345,340 0.80
Ecopetrol SA 5.38% 26/06/2026 USD 2,800,000 2,845,626 0.97
5,190,966 1.77
Cyprus
MHP SE 7.75% 10/05/2024 USD 900,000 409,349 0.14
409,349 0.14
Czech Republic
Energo-Pro AS 8.50% 04/02/2027 USD 2,736,000 2,621,487 0.89
2,621,487 0.89
Dominican Republic
Empresa Generadora de Electricidad Haina SA 5.63%
USD 2,390,000 2,217,313 0.76
08/11/2028
2,217,313 0.76
Egypt
Egypt (Govt of) 3.88% 16/02/2026 USD 1,700,000 1,527,726 0.52
1,527,726 0.52
France
Loxam SAS 4.25% 15/04/2024 EUR 1,000,000 1,114,646 0.38
Quatrim Sasu 5.88% 15/01/2024 EUR 1,000,000 1,112,146 0.38
2,226,792 0.76

Quantity/ Market
Nominal Value % of
Bonds
Georgia
Georgia Global Utilities JSC 7.75% 30/07/2025 USD 1,600,000 1,615,400 0.55
1,615,400 0.55
Hong Kong
Gemdale Ever Prosperity 4.95% 12/08/2024 USD 800,000 748,488 0.26
748,488 0.26
India
Adani Green Energy Limited 4.38% 08/09/2024 USD 3,067,000 3,008,330 1.03
3,008,330 1.03
Indonesia
Cikarang Listrindo Tbk PT 4.95% 14/09/2026 USD 1,750,000 1,739,809 0.59
1,739,809 0.59
Ireland
Aragvi Finance International DAC 8.45% 29/04/2026 USD 3,100,000 2,570,040 0.88
C&W Senior Financing DAC 6.88% 15/09/2027 USD 600,000 596,250 0.20
3,166,290 1.08
Israel
Energean Israel Finance Limited 4.50% 30/03/2024 USD 3,000,000 2,976,499 1.02
ICL Group Limited 4.50% 02/12/2024 USD 1,600,000 1,663,216 0.57
4,639,715 1.59
Petropavlovsk 2016 Limited 8.13% 14/11/2022 USD 1,800,000 652,185 0.22
West China Cement Limited 4.95% 08/07/2026 USD 1,300,000 1,141,738 0.39
1,793,923 0.61
Jordan
Jordan (Govt of) 6.13% 29/01/2026 USD 2,800,000 2,831,903 0.97
2,831,903 0.97
Luxembourg
Adecoagro SA 6.00% 21/09/2027 USD 2,850,000 2,868,643 0.99
Aegea Finance Sarl 5.75% 10/10/2024 USD 2,750,000 2,783,092 0.95
CSN Resources SA 7.63% 17/04/2026 USD 2,300,000 2,393,984 0.81
Kenbourne Invest SA 6.88% 26/11/2024 USD 3,650,000 3,592,356 1.22
Kernel Holding SA 6.50% 17/10/2024 USD 2,300,000 1,127,000 0.38
MHP Lux SA 6.95% 03/04/2026 USD 900,000 416,061 0.14
Puma International Financing SA 5.13% 06/10/2024 USD 3,100,000 2,962,067 1.01
16,143,203 5.50
Mauritius
Axian Telecom 7.38% 16/02/2027 USD 2,859,000 2,798,246 0.96
Clean Renewable Power Mauritius Pte Limited 4.25%
USD 1,572,000 1,484,885 0.51
25/03/2027
Greenko Power II Limited 4.30% 13/12/2028 USD 1,500,000 1,415,456 0.48
HTA Group Limited 7.00% 18/12/2025 USD 3,100,000 3,057,344 1.04
Network I2i Limited FRN Perp USD 2,260,000 2,255,480 0.77
13,183,927 4.50
115

Quantity/ Market
Nominal Value % of
Bonds
Mexico
Alsea SAB de CV 7.75% 14/12/2026 USD 2,750,000 2,849,121 0.97
Axtel SAB de CV 6.38% 14/11/2024 USD 3,000,000 3,071,535 1.05
Cydsa SAB de CV 6.25% 04/10/2027 USD 2,950,000 2,828,313 0.97
Electricidad Firme de Mexico Holdings SA 4.90% 20/11/2026 USD 2,700,000 2,509,313 0.86
Grupo Bimbo SAB de CV FRN 17/07/2166 USD 3,050,000 3,109,119 1.06
Grupo KUO SAB De CV 5.75% 07/07/2027 USD 3,200,000 3,168,569 1.07
Petroleos Mexicanos 6.88% 04/08/2026 USD 2,800,000 2,934,304 1.00
Trust Fibra Uno 5.25% 30/01/2026 USD 2,800,000 2,896,250 0.99
23,366,524 7.97
Netherlands
BOI Finance BV 7.50% 16/02/2027 EUR 2,195,000 2,414,297 0.82
Embraer Netherlands Fina 5.05% 15/06/2025 USD 2,600,000 2,630,875 0.90
IHS Netherlands Holdco BV 8.00% 18/09/2027 USD 2,900,000 2,910,754 0.99
Lukoil International Finance BV 4.75% 02/11/2026 USD 2,000,000 1,117,718 0.38
NGD Holdings BV 6.75% 31/12/2026 USD 1,200,000 405,000 0.14
USD 2,900,000 3,052,569 1.04
31/01/2025
Vivo Energy Investments BV 5.13% 24/09/2027 USD 3,066,000 3,050,670 1.04
15,581,883 5.31
Nigeria
Seplat Energy plc 7.75% 01/04/2026 USD 2,300,000 2,212,066 0.76
2,212,066 0.76
Oman
Oman (Govt of) 4.75% 15/06/2026 USD 3,000,000 3,026,522 1.03
Oq Saoc 5.13% 06/05/2028 USD 2,000,000 1,981,370 0.68
5,007,892 1.71
Panama
Banistmo SA 3.65% 19/09/2022 USD 3,000,000 3,018,749 1.03
Carnival Corp. 10.13% 01/02/2026 EUR 1,000,000 1,239,298 0.42
Multibank Inc. 4.38% 09/11/2022 USD 2,200,000 2,223,375 0.76
6,481,422 2.21
Paraguay
Telefonica Celular del Paraguay SA 5.88% 15/04/2027 USD 3,182,000 3,235,171 1.10
3,235,171 1.10
Saudi Arabia
Arab National Bank FRN 28/10/2030 USD 2,212,000 2,167,626 0.74
2,167,626 0.74
Singapore
BOC Aviation Limited 3.25% 29/04/2025 USD 2,025,000 2,006,196 0.68
Medco Platinum Road Pte Limited 6.75% 30/01/2025 USD 2,250,000 2,262,944 0.77
TML Holdings Pte Limited 4.35% 09/06/2026 USD 1,487,000 1,414,688 0.48
United Overseas Bank Limited FRN Perp USD 3,000,000 2,998,406 1.02
8,682,234 2.95

Quantity/ Market
Nominal Value % of
Bonds
South Africa
Absa Group Limited 6.38% 27/11/2169 USD 2,867,000 2,798,584 0.96
FirstRand Bank Limited FRN 23/04/2028 USD 2,800,000 2,855,881 0.98
South Africa (Govt of) 10.50% 21/12/2026 ZAR 9,600,000 721,722 0.25
6,376,187 2.19
Spain
AI Candelaria Spain SA 7.50% 15/12/2028 USD 2,600,000 2,553,915 0.87
2,553,915 0.87
Supranational
Africa Finance Corp. 3.13% 16/06/2025 USD 3,100,000 3,006,846 1.03
African Export-Import Bank 2.63% 17/05/2026 USD 1,300,000 1,212,823 0.41
African Export-Import Bank 4.13% 20/06/2024 USD 1,900,000 1,900,540 0.65
Eastern & Southern African Trade & Development Bank
USD 2,200,000 2,213,479 0.76
4.88% 23/05/2024
8,333,688 2.85
Thailand
Bangkok Bank pcl FRN Perp USD 2,100,000 2,060,054 0.70
2,060,054 0.70
Turkey
Ulker Biskuvi Sanayi AS 6.95% 30/10/2025 USD 2,400,000 2,106,997 0.72
2,106,997 0.72
United Arab Emirates
DAE Sukuk Difc Limited 3.75% 15/02/2026 USD 2,180,000 2,138,031 0.74
First Abu Dhabi Bank PJSC FRN 05/04/2169 USD 2,700,000 2,681,797 0.92
NBK Tier 1 Limited FRN 31/12/2049 USD 3,100,000 2,876,180 0.98
7,696,008 2.64
United Kingdom
Liquid Telecommunications Financing plc 5.50% 04/09/2026 USD 2,940,000 2,840,695 0.97
State Savings Bank of Ukraine Via SSB #1 plc 9.63%
USD 2,400,000 337,560 0.12
20/03/2025
Tullow Oil plc 10.25% 15/05/2026 USD 1,600,000 1,627,815 0.56
Vedanta Resources Finance II plc 8.95% 11/03/2025 USD 1,845,000 1,802,058 0.62
Vedanta Resources plc 6.38% 30/07/2022 USD 750,000 731,933 0.25
11,614,151 3.97
United States
ATP Tower Holdings LLC 4.05% 27/04/2026 USD 1,500,000 1,427,438 0.49
BOC Aviation USA Corp. 1.63% 29/04/2024 USD 1,000,000 964,080 0.33
DAE Funding LLC 1.55% 01/08/2024 USD 1,000,000 945,657 0.32
Mercury Chile Holdingco LLC 6.50% 24/01/2027 USD 2,400,000 2,306,700 0.79
NBM USA Holdings Inc. 6.63% 06/08/2029 USD 2,700,000 2,843,207 0.97
Periama Holdings LLC 5.95% 19/04/2026 USD 2,200,000 2,245,604 0.77
Stillwater Mining Company 4.00% 16/11/2026 USD 3,200,000 3,086,170 1.05
13,818,856 4.72
117

Quantity/ Market
Nominal Value % of
Bonds
Enn Clean Energy International Investment Limited 3.38%
USD 2,000,000 1,876,589 0.64
12/05/2026
Huarong Finance II 5.50% 16/01/2025 USD 2,100,000 2,131,594 0.73
RKPF Overseas 2019 A Limited 6.00% 04/09/2025 USD 1,371,000 1,053,956 0.36
Studio City Finance Limited 6.00% 15/07/2025 USD 1,500,000 1,384,650 0.47
6,446,789 2.20
Total Bonds 276,523,320 94.41
Luxembourg
Millicom International Cellular 5.13% 15/01/2028 USD 3,150,000 2,803,799 0.96
2,803,799 0.96
Total Mortgage and Asset Backed Securities 2,803,799 0.96
Loans
Georgia
Bank of Georgia JSC 6.00% 26/07/2023 USD 2,000,000 2,017,414 0.69
2,017,414 0.69
Total Loans 2,017,414 0.69
281,344,533 96.06
Funds
WisdomTree WTI Crude Oil USD 136,000 1,343,680 0.46
1,343,680 0.46
Total Funds 1,343,680 0.46
Total Other undertakings for collective investments 1,343,680 0.46
Cash 7,257,812 2.48

Unrealised
EUR 156,513,669 USD 172,944,785 14/04/2022 Citibank 785,539 0.26
GBP 315,000 USD 412,341 14/04/2022 Citibank 1,070 –
USD 701,055 EUR 629,794 14/04/2022 Citibank 1,982 –
USD 209,030 GBP 158,489 14/04/2022 Citibank 1,026 –
USD 3,142,857 TWD 87,999,999 31/05/2022 Citibank 63,487 0.02
EUR 2,010,367 USD 2,241,246 14/04/2022 Citibank (9,738) –
GBP 4,929,501 USD 6,485,820 14/04/2022 Citibank (16,265) (0.01)
TWD 88,000,000 USD 3,100,775 31/05/2022 Citibank (21,567) (0.01)
USD 4,363,614 EUR 3,959,412 14/04/2022 Citibank (31,320) –
USD 35,021 GBP 26,862 14/04/2022 Citibank (232) –
Total Unrealised Loss on Forward Currency Exchange Contracts – Liabilities (110,912) (0.03)
Net Unrealised Gain on Forward Currency Exchange Contracts – Assets 742,192 0.25

Unrealised
US 5 Year Note, 30/06/2022 (202) USD 34,275 0.01
119
Jupiter Global Equity Growth Unconstrained

Quantity/ Market
Nominal Value % of
Equities
Cayman Islands
Farfetch Limited - A USD 45,422 723,118 0.28
MELI Kaszek Pioneer Corp. USD 48,442 494,593 0.19
1,217,711 0.47
France
Constellium SE USD 157,556 2,914,786 1.12
Soitec EUR 6,324 1,199,521 0.46
4,114,307 1.58
Ireland
Trane Technologies plc USD 14,047 2,227,714 0.86
2,227,714 0.86
Israel
Cyberark Software Limited USD 11,044 1,865,773 0.72
1,865,773 0.72
Japan
Nexon Company Limited JPY 88,222 2,125,709 0.82
Nintendo Company Limited JPY 6,540 3,314,474 1.28
Sony Group Corp. JPY 34,074 3,564,630 1.37
9,004,813 3.47
Netherlands
Adyen NV EUR 1,664 3,425,055 1.32
6,472,269 2.49
New Zealand
Xero Limited AUD 8,461 651,113 0.25
651,113 0.25
Taiwan
Taiwan Semiconductor Manufacturing Company Limited TWD 307,515 6,407,534 2.47
6,407,534 2.47
United States
Advanced Micro Devices Inc. USD 12,861 1,533,288 0.59
Affirm Holdings Inc. USD 17,370 812,048 0.31
Airbnb Inc. USD 15,617 2,711,580 1.04
Alphabet Inc. - C USD 4,309 12,293,103 4.73
Amazon.com Inc. USD 3,052 10,151,013 3.90
Amphenol Corp. USD 94,966 7,284,842 2.80
Ansys Inc. USD 2,184 699,557 0.27
Autodesk Inc. USD 8,660 1,913,860 0.74
Avalara Inc. USD 20,857 2,092,999 0.81
Ball Corp. USD 124,123 11,356,013 4.37
Box Inc. USD 26,122 761,456 0.29
Cadence Design Systems Inc. USD 26,301 4,295,217 1.65
Catalent Inc. USD 25,648 2,842,568 1.09
Chipotle Mexican Grill Inc. USD 1,918 3,019,105 1.16
Cloudflare Inc. USD 10,520 1,308,688 0.50

Quantity/ Market
Nominal Value % of
Equities
Costar Group Inc. USD 28,423 1,932,480 0.74
Crown Castle International Corp. USD 48,618 8,972,938 3.45
Fiserv Inc. USD 39,465 4,030,955 1.55
Heliogen Inc. USD 45,770 254,481 0.10
Intuitive Surgical Inc. USD 7,578 2,307,046 0.89
KLA Corp. USD 19,189 7,173,232 2.76
Lam Research Corp. USD 14,384 7,890,487 3.04
Mercadolibre Inc. USD 2,684 3,247,237 1.25
Microchip Technology Inc. USD 106,488 8,134,619 3.13
Micron Technology Inc. USD 38,138 3,019,004 1.16
Microsoft Corp. USD 33,170 10,410,737 4.00
Momentive Global Inc. USD 61,638 1,034,902 0.40
nCino Inc. USD 24,592 1,057,456 0.41
NetFlix Inc. USD 9,655 3,683,093 1.42
NextEra Energy Inc. USD 41,578 3,554,919 1.37
Nvidia Corp. USD 5,606 1,552,301 0.60
Okta Inc. USD 21,403 3,266,098 1.26
Paramount Global USD 186,577 7,108,584 2.73
Paypal Holdings Inc. USD 33,300 3,945,717 1.51
Redfin Corp. USD 46,833 884,207 0.34
Sailpoint Technologies Holding Inc. USD 91,379 4,590,881 1.77
Salesforce.com Inc. USD 51,905 11,156,462 4.28
Silicon Laboratories Inc. USD 9,664 1,468,058 0.56
Snap Inc. USD 55,312 2,037,694 0.78
Sun Communities Inc. USD 46,308 8,247,918 3.17
Teradyne Inc. USD 17,854 2,160,870 0.83
Tesla Motors Inc. USD 2,463 2,694,497 1.04
Texas Instruments Inc. USD 43,368 8,129,332 3.13
Thor Industries Inc. USD 18,953 1,584,281 0.61
T-Mobile USA Inc. USD 76,935 9,894,610 3.81
Tyler Technologies Inc. USD 4,483 1,990,452 0.77
Unity Software Inc. USD 6,902 698,551 0.27
Walt Disney Company USD 49,189 6,933,681 2.67
Wolfspeed Inc. USD 12,866 1,487,310 0.57
Workday Inc. - A USD 39,445 9,528,334 3.67
YETI Holdings Inc. USD 10,694 679,176 0.26
Zendesk Inc. USD 33,277 3,982,924 1.53
223,800,861 86.08
255,762,095 98.39
Cash 4,261,399 1.64
121

Unrealised
EUR 50,178 USD 55,437 14/04/2022 Citibank 262 –
Total unrealised gain on forward currency exchange contracts – Assets 262 –
EUR 3,135 USD 3,490 14/04/2022 Citibank (10) –
USD 3,945 EUR 3,589 14/04/2022 Citibank (41) –
Total Unrealised Loss on Forward Currency Exchange Contracts – Liabilities (51) –
Net Unrealised Gain on Forward Currency Exchange Contracts – Assets 211 –
Jupiter Global High Yield Bond

Quantity/ Market
Nominal Value % of
Bonds
Australia
Perenti Finance Pty Limited 6.50% 07/10/2025 USD 600,000 540,422 1.08
540,422 1.08
Austria
OMV AG Perp 6.25% EUR 200,000 220,581 0.44
Sappi Papier Holding GmbH 3.63% 15/03/2028 EUR 100,000 95,346 0.19
Suzano Austria GmbH 3.75% 15/01/2031 USD 200,000 170,227 0.34
486,154 0.97
Bermuda
Gulf Keystone Petroleum Limited 10.00% 25/07/2023 USD 400,000 369,745 0.74
369,745 0.74
Canada
Bausch Health Cos Inc. 5.25% 30/01/2030 USD 250,000 177,899 0.36
Bausch Health Cos Inc. 9.00% 15/12/2025 USD 725,000 676,458 1.35
Garda World Security Corp 9.50% 01/11/2027 USD 350,000 324,197 0.65
International Petroleum Corp.Sweden 7.25% 01/02/2027 USD 688,000 621,353 1.24
Primo Water Corp 3.875% 31/10/2028 3.88% 31/10/2028 EUR 100,000 93,396 0.19
1,893,303 3.79
Colombia
Colombia Telecomunicaciones SA 4.95% 17/07/2030 USD 900,000 744,809 1.49
744,809 1.49
Czech Republic
Energo-Pro AS 8.50% 04/02/2027 USD 470,000 405,866 0.81
405,866 0.81
France
Afflelou SAS FRN 19/05/2027 EUR 100,000 100,965 0.20
Altice France SA 5.88% 01/02/2027 EUR 200,000 205,134 0.41
Faurecia 2.375% 15/06/2029 2.38% 15/06/2029 EUR 100,000 86,608 0.17
Imerys SA 1.00% 15/07/2031 EUR 200,000 171,564 0.34
Iqera Group SAS 6.50% 30/09/2024 EUR 800,000 805,156 1.62
La Financiere Atalian SA 4.00% 15/05/2024 EUR 150,000 139,040 0.28
La Financiere Atalian SA 6.63% 15/05/2025 GBP 100,000 110,823 0.22
Quatrim Sasu 5.88% 15/01/2024 EUR 600,000 601,404 1.20
Societe Generale SA Perp 7.88% USD 200,000 188,924 0.38
Vallourec SA 8.50% 30/06/2026 EUR 700,000 718,460 1.44
3,569,589 7.14
123

Quantity/ Market
Nominal Value % of
Bonds
Germany
HT Troplast AG 9.25% 15/07/2025 EUR 500,000 500,847 1.00
Kaefer Isoliertechnik GmbH & Company KG 5.50%
EUR 300,000 299,975 0.60
10/01/2024
Nidda Bondco GmbH 5.00% 30/09/2025 EUR 314,000 285,177 0.57
Nidda BondCo GmbH 7.25% 30/09/2025 EUR 779,000 745,537 1.49
2,202,347 4.40
India
Adani Renewable Energy 4.63% 15/10/2039 USD 200,000 147,062 0.29
147,062 0.29
Ireland
ASG Finance Designated Activity Company 7.88%
USD 400,000 342,178 0.68
03/12/2024
Eircom Finance Dac 2.63% 15/02/2027 EUR 100,000 93,259 0.19
435,437 0.87
Italy
Gamma Bidco SpA 5.13% 15/07/2025 EUR 100,000 99,041 0.20
Guala Closures SpA 3.25% 15/06/2028 EUR 400,000 361,251 0.72
Unicredit Spa Var 03/12/2169 4.45% 03/12/2169 EUR 200,000 184,070 0.37
644,362 1.29
Petrofac Limited 9.75% 15/11/2026 USD 1,000,000 822,072 1.64
1,054,562 2.10
Luxembourg
Albion Financing 1 sarl 5.25% 15/10/2026 EUR 400,000 395,393 0.80
Altice France Holding SA 8.00% 15/05/2027 EUR 300,000 310,215 0.62
Aroundtown SA 1.63% 15/07/2170 EUR 100,000 87,528 0.18
ContourGlobal Power Holdings SA 2.75% 01/01/2026 EUR 400,000 377,267 0.76
Cullinan Holdingco Scsp 4.75% 15/10/2026 EUR 300,000 284,973 0.57
Gamma Bondco Sarl 8.13% 15/11/2026 EUR 242,000 236,979 0.47
Garfunkelux Holdingco 3 SA 6.75% 01/11/2025 EUR 400,000 399,192 0.80
HSE Finance Sarl 5.63% 15/10/2026 EUR 200,000 189,971 0.38
Ideal Standard International SA 6.38% 30/07/2026 EUR 100,000 83,747 0.17
Logicor Financing Sarl 1.63% 17/01/2030 EUR 200,000 184,249 0.37
Lune Holdings Sarl 5.63% 15/11/2028 EUR 450,000 404,846 0.82
Motion Finco Sarl 7.00% 15/05/2025 EUR 400,000 414,586 0.83
PLT VII Finance sarl 4.63% 05/01/2026 EUR 200,000 198,244 0.40
Rossini Sarl 6.75% 30/10/2025 EUR 500,000 513,509 1.03
Rumo Luxembourg Sarl 4.20% 18/01/2032 USD 400,000 313,719 0.63
Simpar Europe SA 5.20% 26/01/2031 USD 200,000 162,003 0.32
Summer BC Holdingco A Sarl 9.25% 31/10/2027 EUR 500,000 465,468 0.93
5,943,958 11.92

Quantity/ Market
Nominal Value % of
Bonds
Mauritius
Axian Telecom 7.38% 16/02/2027 USD 461,000 406,654 0.81
406,654 0.81
Mexico
Petroleos Mexicanos 2.75% 21/04/2027 EUR 100,000 88,702 0.18
88,702 0.18
Netherlands
BOI Finance BV 7.50% 16/02/2027 EUR 506,000 501,603 1.01
Cooperatieve Rabobank UA 4.88% 06/10/2170 EUR 200,000 200,000 0.40
Digital Dutch Finco Bv 1% 15/01/2032 1.00% 15/01/2032 EUR 200,000 168,772 0.34
Global Switch Finance 1.38% 07/10/2030 EUR 200,000 184,073 0.37
IHS Netherlands Holdco BV 8.00% 18/09/2027 USD 500,000 452,304 0.90
Louis Dreyfus Finance 1.625% 28/04/2028 1.63% 28/04/2028 EUR 100,000 92,551 0.19
Metinvest BV 5.63% 17/06/2025 EUR 200,000 88,833 0.18
Metinvest BV 7.75% 23/04/2023 USD 800,000 326,403 0.65
Petrobras Global Finance BV 6.63% 16/01/2034 GBP 200,000 238,132 0.48
Q-Park Holding I BV 2.00% 01/03/2027 EUR 100,000 91,579 0.18
Schoeller Packaging BV 6.38% 01/11/2024 EUR 500,000 478,509 0.95
Sigma Holdco BV 5.75% 15/05/2026 EUR 400,000 328,500 0.66
Summer Bidco BV 9.00% 15/11/2025 EUR 800,000 837,726 1.68
Sunshine Mid BV 6.50% 15/05/2026 EUR 500,000 503,068 1.00
Telefonica Europe BV Perp 5.88% EUR 300,000 319,039 0.64
EUR 1,015,000 945,368 1.90
09/05/2030
United Group BV 5.25% 01/02/2030 EUR 200,000 187,148 0.37
Viterra Finance Bv 1% 24/09/2028 1.00% 24/09/2028 EUR 200,000 177,456 0.35
Volkswagen International Finance NV Perp 3.88% EUR 100,000 98,679 0.20
Volkswagen Intl Fin Nv Var 27/06/2169 4.63% 27/06/2167 EUR 100,000 104,430 0.21
VZ Secured Financing BV 3.50% 15/01/2032 EUR 200,000 184,496 0.37
ZF Europe Finance BV 3.00% 23/10/2029 EUR 100,000 89,615 0.18
6,987,827 13.99
Panama
Carnival Corp. 10.13% 01/02/2026 EUR 500,000 558,469 1.11
558,469 1.11
Poland
Synthos SA 2.50% 07/06/2028 EUR 200,000 176,673 0.35
176,673 0.35
Spain
Banco Santander SA FRN Perp EUR 400,000 340,661 0.68
Cellnex Finance Company SA 1.25% 15/01/2029 EUR 100,000 87,400 0.17
Tendam Brands SAU 5.00% 15/09/2024 EUR 400,000 398,941 0.80
Via Celere Desarrollos Inmobiliarios SA 5.25% 01/04/2026 EUR 500,000 498,933 0.99
1,325,935 2.64
125

Quantity/ Market
Nominal Value % of
Bonds
Sweden
Heimstaden Bostad AB FRN Perp EUR 200,000 169,196 0.34
169,196 0.34
Turkey
Aydem Yenilenebilir Enerji AS 7.75% 02/02/2027 USD 400,000 286,152 0.57
286,152 0.57
Ukraine
126,433 0.25
United Kingdom
Ardagh Packaging Finance plc 2.13% 15/08/2026 EUR 200,000 188,579 0.38
Barclays plc 8.00% 15/09/2167 USD 200,000 191,349 0.38
BCP V Modular Services 6.75% 30/11/2029 EUR 126,000 114,969 0.23
Bellis Acquisition Company plc 4.50% 16/02/2026 GBP 300,000 340,396 0.68
EG Global Finance plc 6.25% 30/10/2025 EUR 400,000 400,166 0.80
Endeavour Mining plc 5.00% 14/10/2026 USD 800,000 665,910 1.33
Enquest plc 7.00% 15/10/2023 USD 1,200,000 1,086,491 2.17
Heathrow Finance plc 4.63% 01/09/2029 GBP 100,000 108,268 0.22
Heathrow Finance plc 6.25% 03/03/2025 GBP 100,000 118,457 0.24
Ineos Finance Plc 2.875% 01/05/2026 2.88% 01/05/2026 EUR 200,000 191,127 0.38
JBS USA Lux SA 3.75% 01/12/2031 USD 200,000 166,194 0.33
KCA Deutag UK Finance plc 9.88% 01/12/2025 USD 400,000 372,944 0.75
Lloyds Banking Group plc Perp 7.63% GBP 200,000 246,790 0.49
Maison Finco plc 6.00% 31/10/2027 GBP 200,000 228,157 0.46
Marb Bondco plc 3.95% 29/01/2031 USD 200,000 158,510 0.32
Neptune Energy Bondco plc 6.63% 15/05/2025 USD 700,000 638,186 1.28
Newday Bondco plc 7.38% 01/02/2024 GBP 300,000 353,184 0.71
Ocado Group plc 3.88% 08/10/2026 GBP 150,000 158,700 0.32
Pinewood Finance Company Limited 3.63% 15/11/2027 GBP 150,000 166,597 0.33
Punch Finance plc 6.13% 30/06/2026 GBP 150,000 175,004 0.35
RAC Bond Company plc 5.25% 04/11/2027 GBP 200,000 218,614 0.44
Sherwood Financing plc 6.00% 15/11/2026 GBP 300,000 337,192 0.67
SIG plc 5.25% 30/11/2026 EUR 400,000 388,905 0.78
Stonegate Pub Finance 8.25% 31/07/2025 GBP 200,000 241,367 0.48
Victoria Plc 3.75% 15/03/2028 3.75% 15/03/2028 EUR 100,000 92,656 0.19
Vmed O2 UK Financing I plc 3.25% 31/01/2031 EUR 500,000 462,289 0.92
Vodafone Group plc 3.00% 27/08/2080 EUR 100,000 91,732 0.18
9,175,787 18.36

Quantity/ Market
Nominal Value % of
dealt in on another regulated market
Bonds
United States
Adams Homes Inc. 7.50% 15/02/2025 USD 300,000 271,064 0.54
ADT Security Corp. 4.88% 15/07/2032 USD 200,000 166,509 0.33
Allied Universal Holdco LLC 9.75% 15/07/2027 USD 300,000 279,505 0.56
Ball Corp. 2.88% 15/08/2030 USD 575,000 461,871 0.92
Bausch Health Americas Inc. 9.25% 01/04/2026 USD 450,000 415,087 0.83
Belden Inc. 3.38% 15/07/2031 EUR 200,000 187,024 0.37
Belden Inc. 3.88% 15/03/2028 EUR 200,000 196,963 0.39
Catalent Pharma Solutions Inc. 2.38% 01/03/2028 EUR 200,000 187,747 0.38
Cco Holdings LLC 4.25% 15/01/2034 USD 200,000 156,609 0.31
Charter Communications Operating LLC 3.95% 30/06/2062 USD 200,000 145,213 0.29
Clean Harbors Inc. 5.13% 15/07/2029 USD 125,000 113,393 0.23
Energy Transfer LP FRN Perp USD 300,000 266,969 0.53
Energy Ventures Gom LLC 11.75% 15/04/2026 USD 300,000 279,140 0.56
Iqvia Inc. 2.25% 15/03/2029 EUR 100,000 91,942 0.18
Iron Mountain Inc. 5.63% 15/07/2032 USD 500,000 443,247 0.89
Kaiser Aluminum Corp. 4.50% 01/06/2031 USD 125,000 100,533 0.20
Labl Inc. 8.25% 01/11/2029 USD 500,000 401,345 0.80
Mauser Packaging Solutions Holding Company 4.75%
EUR 300,000 298,566 0.60
15/04/2024
Mercury Chile Holdingco LLC 6.50% 24/01/2027 USD 300,000 259,869 0.52
MPLX LP Perp 6.88% USD 300,000 268,322 0.53
Netflix Inc. 3.63% 15/06/2030 EUR 100,000 106,134 0.21
New Fortress Energy Inc. 6.50% 30/09/2026 USD 300,000 267,845 0.54
Nielsen Finance LLC 4.50% 15/07/2029 USD 150,000 135,432 0.27
Olympus Wtr Us Hldg Co 3.875% 01/10/2028 3.88%
EUR 100,000 91,402 0.18
01/10/2028
Pic Au Holdings LLC 10.00% 31/12/2024 USD 200,000 185,605 0.38
PIC AU Holdings LLC 10.00% 31/12/2024 USD 94,000 87,234 0.17
Plains All America Pipe FRN Perp USD 160,000 120,156 0.24
Radiology Partners Inc. 9.25% 01/02/2028 USD 100,000 90,749 0.18
Scotts Miracle-Gro Company 4.38% 01/02/2032 USD 100,000 79,749 0.16
Standard Industries Inc. 2.25% 21/11/2026 EUR 200,000 187,824 0.37
Stillwater Mining Company 4.50% 16/11/2029 USD 200,000 168,603 0.34
Superior Industries 6.00% 15/06/2025 EUR 200,000 188,599 0.38
Talos Production Inc. 12.00% 15/01/2026 USD 340,000 331,758 0.66
Tempur Sealy International Inc. 3.88% 15/10/2031 USD 150,000 116,770 0.23
US Renal Care Inc. 10.63% 15/07/2027 USD 300,000 258,412 0.52
127

Quantity/ Market
Nominal Value % of
dealt in on another regulated market
Bonds
WMG Acquisition Corp. 2.25% 15/08/2031 EUR 200,000 176,994 0.35
WMG Acquisition Corp. 2.25% 15/08/2031 EUR 300,000 265,491 0.53
WW International Inc. 4.50% 15/04/2029 USD 150,000 110,087 0.22
8,853,408 17.68
Total Bonds 46,592,852 93.17
46,592,852 93.17
Cash 2,966,348 5.93

Unrealised
EUR 272,166 USD 300,000 14/04/2022 Citibank 1,897 –
GBP 179,589 EUR 211,815 14/04/2022 Citibank 522.00 –
USD 31,769 EUR 28,538 14/04/2022 Citibank 83 –
USD 805,808 EUR 723,092 29/04/2022 Northern Trust 2,529 0.01
GBP 25,639,516 EUR 30,526,317 14/04/2022 Citibank (211,307) (0.42)
GBP 144,563 EUR 171,040 29/04/2022 Northern Trust (208) –
USD 1,955,767 EUR 1,769,855 14/04/2022 Citibank (7,902) (0.02)

Unrealised
Euro-Bund, 08/06/2022 (23) EUR 188,945 0.38
129
Jupiter Global Sovereign Opportunities

Quantity/ Market
Nominal Value % of
Bonds
Argentina
Argentina (Govt of) 0.00% 15/12/2035 USD 2,500,000 18,950 0.04
Argentina (Govt of) 0.50% 09/07/2030 USD 100,000 33,716 0.07
Argentina (Govt of) FRN 09/07/2035 USD 500,000 153,125 0.30
Provincia de Buenos Aires 3.90% 01/09/2037 USD 533,818 231,359 0.46
Provincia de Cordoba 5.00% 10/12/2025 USD 150,000 118,323 0.23
Provincia de Neuquen 4.63% 27/04/2030 USD 100,000 61,036 0.12
YPF SA 2.50% 30/06/2029 USD 90,000 67,032 0.13
YPF SA 4.00% 12/02/2026 USD 374,525 334,966 0.66
1,164,067 2.30
Australia
Australia (Govt of) 1.00% 21/11/2031 AUD 500,000 317,104 0.63
Australia (Govt of) 1.75% 21/06/2051 AUD 700,000 376,477 0.74
693,581 1.37
Austria
Austria (Govt of) 0.00% 20/02/2031 EUR 75,000 76,730 0.15
76,730 0.15
Bahamas
Bahamas (Govt of) 6.00% 21/11/2028 USD 300,000 235,998 0.47
Bahamas (Govt of) 6.95% 20/11/2029 USD 150,000 123,234 0.24
359,232 0.71
Bermuda
Qatar Reinsurance Company Limited FRN 13/09/2169 USD 400,000 395,534 0.78
395,534 0.78
Brazil
Brazil (Govt of) 0.00% 01/01/2023 BRL 1,332 280,234 0.55
2,320,746 4.58
Cameroon
Cameroon (Govt of) 5.95% 07/07/2032 EUR 100,000 97,892 0.19
Cameroon (Govt of) 9.50% 19/11/2025 USD 200,000 210,235 0.42
308,127 0.61
Chile
Chile (Govt of) 0.00% 01/03/2023 CLP 3,000 121,456 0.24
Chile (Govt of) 0.00% 01/03/2026 CLP 3,000 118,914 0.24
Chile (Govt of) 0.00% 01/09/2030 CLP 1,350,000,000 1,544,976 3.06
Chile (Govt of) 0.00% 01/10/2033 CLP 540,000,000 491,404 0.97
2,276,750 4.51

Quantity/ Market
Nominal Value % of
Bonds
China
Agricultural Development Bank of China 2.60% 11/08/2023 CNY 1,000,000 157,266 0.31
Agricultural Development Bank of China 3.25% 27/10/2025 CNY 1,000,000 159,527 0.32
Bank of China Limited 2.75% 29/09/2023 CNY 1,000,000 157,030 0.31
China Construction Bank Corp. 2.85% 22/04/2023 CNH 1,000,000 157,136 0.31
China Construction Bank Corp. 2.85% 22/04/2023 CNY 1,000,000 157,322 0.31
788,281 1.56
Colombia
Colombia (Govt of) 3.00% 30/01/2030 USD 200,000 173,118 0.34
Colombia (Govt of) 5.00% 15/06/2045 USD 400,000 340,704 0.67
Colombia (Govt of) 5.75% 03/11/2027 COP 1,742,700,000 391,054 0.77
Ecopetrol SA 5.88% 28/05/2045 USD 225,000 198,692 0.39
Ecopetrol Sa 4.625% 02/11/2031 4.63% 02/11/2031 USD 100,000 91,158 0.18
1,973,722 3.89
Czech Republic
Czech Republic (Govt of) 1.20% 13/03/2031 CZK 15,000,000 553,239 1.09
553,239 1.09
Ecuador
311,201 0.62
Egypt
Egypt (Govt of) 0.00% 10/01/2023 EGP 27,500,000 1,351,297 2.67
Egypt (Govt of) 3.88% 16/02/2026 USD 200,000 179,732 0.36
Egypt (Govt of) 7.30% 30/09/2033 USD 200,000 176,312 0.35
Egypt (Govt of) 7.63% 29/05/2032 USD 200,000 181,705 0.36
Egypt (Govt of) 8.88% 29/05/2050 USD 200,000 176,643 0.35
2,065,689 4.09
El Salvador
El Salvador (Govt of) 7.65% 15/06/2035 USD 100,000 47,573 0.09
47,573 0.09
Ethiopia
Ethiopia (Govt of) 6.63% 11/12/2024 USD 800,000 582,352 1.15
582,352 1.15
Finland
Finnish T-Bill 0% 12/08/2022 0.00% 12/08/2022 EUR 2,000,000 2,225,435 4.41
2,225,435 4.41
Gabon
Gabon (Govt of) 6.95% 16/06/2025 USD 200,000 203,386 0.40
Gabon (Govt of) 6.95% 16/06/2025 USD 200,000 203,386 0.40
406,772 0.80
131

Quantity/ Market
Nominal Value % of
Bonds
Germany
444,822 0.88
Ghana
Ghana (Govt of) 8.63% 07/04/2034 USD 400,000 286,500 0.57
Ghana (Govt of) 20.75% 16/01/2023 GHS 1,370,000 181,628 0.36
468,128 0.93
Greece
Greece (Govt of) 0.00% 15/10/2042 EUR 30,000,000 35,024 0.07
Greece (Govt of) 1.88% 24/01/2052 EUR 300,000 253,768 0.50
Piraeus Bank SA 3.88% 03/11/2027 EUR 200,000 198,205 0.39
486,997 0.96
Hong Kong
Bank of China Hong Kong Limited 2.80% 09/07/2023 CNY 1,000,000 157,035 0.31
157,035 0.31
Hungary
Hungary (Govt of) 3.00% 27/10/2038 HUF 75,700,000 153,186 0.30
Hungary (Govt of) 3.25% 22/10/2031 HUF 105,720,000 251,648 0.50
404,834 0.80
India
Indian Renewable Energy Development Agency Limited
INR 20,000,000 263,469 0.52
7.13% 10/10/2022
263,469 0.52
Indonesia
Indonesia (Govt of) 6.38% 15/04/2032 IDR 3,520,000,000 239,203 0.47
239,203 0.47
Iraq
Iraq (Govt of) 5.80% 15/01/2028 USD 250,000 183,385 0.36
183,385 0.36
Ireland
Ireland (Govt of) 0.00% 18/10/2031 EUR 1,000,000 1,006,260 1.99
Ireland (Govt of) 0.20% 18/10/2030 EUR 400,000 418,369 0.83
1,424,629 2.82
Israel
Israel (Govt of) 0.00% 31/03/2047 ILS 600,000 214,776 0.42
214,776 0.42
Italy
Eni SpA FRN Perp EUR 100,000 106,242 0.21
106,242 0.21
Ivory Coast
Ivory Coast (Govt of) 6.38% 03/03/2028 USD 200,000 204,312 0.40
204,312 0.40
Jordan
Jordan (Govt of) 5.75% 31/01/2027 USD 200,000 199,000 0.39
199,000 0.39

Quantity/ Market
Nominal Value % of
Bonds
Kazakhstan
Kazmunaygas National Co 3.5% 14/04/2033 3.50%
USD 200,000 166,500 0.33
14/04/2033
Kazmunaygas National Company 6.38% 24/10/2048 USD 200,000 187,000 0.37
KazMunayGas National Company JSC 5.75% 19/04/2047 USD 200,000 176,950 0.35
530,450 1.05
Lebanon
Lebanon (Govt of) 0.00% 22/04/2024§ USD 300,000 36,360 0.07
199,773 0.39
Mexico
Mexico (Govt of) 5.75% 05/03/2026 MXN 111,030 507,749 1.00
Mexico (Govt of) 7.50% 03/06/2027 MXN 9,149,800 439,289 0.87
Petroleos Mexicanos 5.50% 27/06/2044 USD 150,000 113,916 0.23
2,443,307 4.83
Mongolia
Mongolia (Govt of) 3.50% 07/07/2027 USD 200,000 182,922 0.36
182,922 0.36
Mozambique
Mozambique (Govt of) 5.00% 15/09/2031 USD 400,000 345,319 0.68
345,319 0.68
Netherlands
BOI Finance BV 7.50% 16/02/2027 EUR 200,000 219,981 0.44
219,981 0.44
New Zealand
New Zealand (Govt of) 1.50% 15/05/2031 NZD 350,000 210,023 0.42
New Zealand (Govt of) 2.00% 15/05/2032 NZD 1,000,000 620,906 1.23
3,007,377 5.95
Nigeria
Nigeria (Govt of) 6.13% 28/09/2028 USD 200,000 184,447 0.36
555,086 1.09
§
133

Quantity/ Market
Nominal Value % of
Bonds
Peru
Banco de Credito del Peru 4.65% 17/09/2024 PEN 440,000 113,929 0.23
Peru (Govt of) 5.70% 12/08/2024 PEN 588,000 160,154 0.32
Peru (Govt of) 6.35% 12/08/2028 PEN 1,072,000 287,803 0.57
Peru (Govt of) 6.95% 12/08/2031 PEN 3,506,000 967,068 1.91
1,528,954 3.03
Poland
Poland (Govt of) 1.25% 25/10/2030 PLN 6,040,000 1,069,290 2.11
Poland (Govt of) 2.50% 25/07/2027 PLN 2,215,000 459,022 0.91
1,528,312 3.02
Portugal
Novo Banco SA 0.00% 09/04/2052 EUR 920,000 263,207 0.52
Novo Banco SA FRN 23/07/2024 EUR 200,000 212,608 0.42
475,815 0.94
Korea (Govt of) 0.00% 10/06/2024 KRW 2,418,060,000 1,945,994 3.86
Korea (Govt of) 0.00% 10/09/2026 KRW 1,250,000,000 986,305 1.95
Korea (Govt of) 0.00% 10/06/2031 KRW 290,000,000 223,243 0.44
Korea (Govt of) 1.38% 10/12/2029 KRW 500,000,000 369,235 0.73
3,524,777 6.98
Romania
Romania (Govt of) 2.00% 14/04/2033 EUR 550,000 490,864 0.97
Romania (Govt of) 3.38% 28/01/2050 EUR 300,000 266,650 0.53
Romania (Govt of) 3.65% 24/09/2031 RON 575,000 106,722 0.21
864,236 1.71
Serbia
Serbia (Govt of) 1.50% 26/06/2029 EUR 100,000 94,123 0.19
Serbia (Govt of) 2.05% 23/09/2036 EUR 100,000 85,173 0.17
179,296 0.36
Sri Lanka
Sri Lanka (Govt of) 5.75% 18/04/2023 USD 400,000 203,330 0.40
Sri Lanka (Govt of) 7.55% 28/03/2030 USD 400,000 192,396 0.38
395,726 0.78
Supranational
Eastern & Southern African Trade & Development Bank
USD 200,000 187,556 0.37
4.13% 30/06/2028
European Union 0.00% 02/06/2028 EUR 100,000 105,406 0.21
International Bank for Reconstruction & Development
USD 200,000 174,247 0.34
0.75% 26/08/2030
New Development Bank 1.13% 27/04/2026 USD 200,000 182,868 0.36
650,077 1.28
Tunisia
Banque Centrale de Tunisie SA 5.75% 30/01/2025 USD 400,000 272,431 0.54
Tunisia (Govt of) 6.38% 15/07/2026 EUR 300,000 211,139 0.42
Tunisia (Govt of) 6.75% 31/10/2023 EUR 200,000 162,472 0.32
646,042 1.28

Quantity/ Market
Nominal Value % of
Bonds
Turkey
Qnb Finansbank AS 4.88% 19/05/2022 USD 200,000 200,556 0.40
QNB Finansbank AS 6.88% 07/09/2024 USD 200,000 208,019 0.41
Turk Telekomunikasyon AS 4.88% 19/06/2024 USD 200,000 191,903 0.38
Turkey (Govt of) 6.00% 14/01/2041 USD 500,000 395,228 0.78
Turkey (Govt of) 11.70% 13/11/2030 TRY 387,958 14,784 0.03
Turkey (Govt of) 12.40% 08/03/2028 TRY 1,000,000 43,732 0.09
Turkiye Garanti Bankasi AS 6.13% 24/05/2027 USD 200,000 198,250 0.39
Turkiye Petrol Rafinerileri AS 4.50% 18/10/2024 USD 200,000 191,357 0.38
Yapi ve Kredi Bankasi AS 5.50% 06/12/2022 USD 200,000 200,642 0.40
1,644,471 3.26
Ukraine
Ukraine (Govt of) 6.75% 20/06/2026 EUR 100,000 46,661 0.09
431,084 0.85
United Kingdom
GEMS MENASA Cayman Limited 7.13% 31/07/2026 USD 200,000 200,900 0.40
Montenegro (Govt of) 2.55% 03/10/2029 EUR 100,000 87,141 0.17
288,041 0.57
United States
Puerto Rico (Govt of) 0.00% 01/07/2033 USD 100,000 56,000 0.11
Puerto Rico (Govt of) 8.00% 01/07/2035 USD 250,000 224,375 0.44
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue
USD 75,000 79,115 0.16
5.00% 01/07/2058
United States Treasury N/B 1.13% 15/08/2040 USD 1,270,800 994,897 1.97
United States Treasury N/B 1.25% 15/05/2050 USD 1,215,500 904,503 1.79
3,243,675 6.43
Zambia
Zambia (Govt of) 5.38% 20/09/2022 USD 200,000 138,556 0.27
Zambia (Govt of) 11.00% 27/04/2025 ZMW 2,500,000 104,000 0.21
Zambia (Govt of) 11.00% 25/01/2026 ZMW 5,000,000 185,996 0.37
574,292 1.14
Total Bonds 44,804,876 88.60
135

Quantity/ Market
Nominal Value % of
Argentina
Provincia de Mendoza 4.25% 19/03/2029 USD 200,000 134,250 0.27
134,250 0.27
134,250 0.27
Guernsey – Channel Islands
Congo (Govt of) 6.00% 30/06/2029 USD 200,000 83,604 0.17
83,604 0.17
Zambia
143,526 0.28
Total Mortgage and Asset Backed Securities 227,130 0.45
Equities
United States
Fannie Mae Perp USD 5,000 15,350 0.03
15,350 0.03
Total Equities 15,350 0.03
45,181,606 89.35
Bonds
United Kingdom
ICBC Standard Bank plc 0.00% 23/05/2030* CNY 10,530,000 1,634,362 3.23
1,634,362 3.23
Total Bonds 1,634,362 3.23
Structured notes
United States
JPMorgan Chase Bank 3.27% 21/11/2030* CNH 3,300,000 535,818 1.06
JPMorgan Chase Bank 3.81% 16/09/2050* CNH 6,600,000 1,111,572 2.20
1,647,390 3.26
Total Structured notes 1,647,390 3.26
3,281,752 6.49
market instruments
Cash 1,253,687 2.48

Unrealised
BRL 1,753,926 USD 336,646 31/05/2022 Citibank 24,528 0.05
BRL 4,491,287 USD 851,626 29/07/2022 Citibank 57,670 0.11
CHF 458,330 USD 490,860 29/04/2022 HSBC 5,254 0.01
CNY 16,151,260 USD 2,511,034 31/08/2022 Citibank 12,310 0.02
EUR 110,514 USD 122,128 14/04/2022 Citibank 542 –
ILS 3,598,387 USD 1,127,474 29/07/2022 Citibank 11,046 0.02
JPY 120,784,155 USD 978,098 30/06/2022 HSBC 17,192 0.03
KRW 622,894,096 USD 504,776 31/05/2022 Citibank 8,264 0.02
PEN 1,134,058 USD 302,174 31/05/2022 Citibank 1,830 –
THB 8,283,199 USD 245,967 30/09/2022 Citibank 4,492 0.01
TRY 1,110,636 USD 68,912 30/06/2022 Citibank 1,548 –
TRY 929,285 USD 51,240 30/09/2022 Citibank 3,363 0.01
USD 500,886 CLP 392,123,473 29/04/2022 Citibank 6,307 0.01
USD 4,491,079 CNY 28,674,486 31/08/2022 Citibank 11,309 0.02
USD 305,428 EUR 274,580 29/04/2022 HSBC 504 –
USD 1,250,519 HKD 9,733,953 29/07/2022 HSBC 4,583 0.01
USD 3,607,548 KRW 4,307,339,675 31/05/2022 Citibank 59,952 0.12
USD 499,009 SAR 1,873,435 28/07/2022 Citibank 23 –
USD 500,108 TWD 13,801,373 30/06/2022 Citibank 16,258 0.03
UYU 10,777,325 USD 248,297 31/05/2022 Citibank 14,250 0.03
UYU 21,654,157 USD 506,648 30/09/2022 Citibank 20,868 0.04
GBP 222,610 USD 292,882 14/04/2022 Citibank (725) –
HUF 141,420,179 USD 423,322 29/04/2022 Citibank (1,774) –
KZT 52,129,245 USD 114,168 30/06/2022 Citibank (3,602) (0.01)
PLN 1,644,211 USD 390,801 29/04/2022 Citibank (215) –
THB 8,327,983 USD 258,716 31/08/2022 Citibank (7,202) (0.01)
TRY 1,117,379 USD 74,260 29/07/2022 Citibank (5,029) (0.01)
USD 710,900 AUD 949,016 29/04/2022 Northern Trust (109) –
USD 1,176,784 BRL 6,142,858 31/05/2022 Citibank (89,734) (0.18)
USD 1,305,719 CNY 8,425,577 31/08/2022 Citibank (10,722) (0.02)
USD 683,705 COP 2,601,297,609 29/04/2022 Citibank (6,581) (0.01)
USD 331,436 CZK 7,450,961 29/04/2022 Citibank (5,531) (0.01)
USD 851,351 EGP 15,760,639 28/04/2022 Citibank (10,800) (0.02)
USD 808 EUR 738 14/04/2022 Citibank (10) –
USD 7,249,480 EUR 6,601,818 29/04/2022 HSBC (81,822) (0.17)
USD 1,921 GBP 1,473 14/04/2022 Citibank (13) –
USD 291,536 GBP 222,733 29/04/2022 HSBC (758) –
USD 1,247,213 HKD 9,737,012 30/09/2022 HSBC (845) –
USD 316,120 HUF 108,335,946 29/04/2022 Citibank (6,837) (0.01)
USD 1,135,700 ILS 3,598,387 29/07/2022 Citibank (2,806) (0.01)
USD 483,783 KES 59,747,211 30/09/2022 Citibank (12,024) (0.02)
USD 247,315 KRW 302,416,916 31/05/2022 Citibank (1,771) –
USD 1,785,149 MXN 36,074,014 29/04/2022 Northern Trust (19,623) (0.04)
USD 2,991,778 NZD 4,337,369 29/04/2022 HSBC (15,324) (0.03)
USD 250,112 OMR 96,469 28/07/2022 Citibank (425) –
USD 822,676 PEN 3,110,539 31/05/2022 Citibank (11,218) (0.02)
USD 1,376,794 PLN 5,927,636 29/04/2022 Citibank (31,414) (0.06)
USD 104,380 RON 473,561 29/04/2022 Citibank (1,428) –
USD 2,489,168 SAR 9,353,795 29/03/2023 Citibank (45) –
USD 998,246 TWD 28,652,651 30/06/2022 Citibank (6,089) (0.01)
137

Unrealised
Euro-OAT, 08/06/2022 (10) EUR 81,552 0.16
Euro-Schatz, 08/06/2022 (60) EUR 75,094 0.15
US 2 Year Note, 30/06/2022 30 USD 18,633 0.04
US 5 Year Note, 30/06/2022 126 USD 110,813 0.22
Korea 10 Year Bond, 21/06/2022 10 KRW (19,059) (0.04)
UK Treasury 4.25% 07/06/2032, 28/06/2022 4 GBP (8,112) (0.02)
US 10 Year Note, 21/06/2022 (32) USD (57,250) (0.11)
US Ultra 10 Year Note, 21/06/2022 (21) USD (49,711) (0.10)
Total unrealised gain on financial future contracts – Assets (134,132) (0.27)
Credit Default Swap Contracts

Interest
(Paid)/ Unrealised % of
Nominal Reference Buy/ Received Maturity gain/(loss) Net
Amount Currency Counterparty Entity Sell Rate Date USD Assets
Bank of America Bahrain Government
1,000,000 USD Buy (1.00)% 20/06/2027 88,071 0.17
Merrill Lynch Bond 7% 26/01/2026
2,000,000 USD Bank of America Egypt Government Bond Buy (1.00)% 20/06/2027 349,415 0.69
Merrill Lynch 4.55% 20/11/2023
Total unrealised gain on credit default swap contracts – Assets 437,486 0.86
2,000,000 USD UBS CDX.NA.IG.38-V1 Buy (1.00)% 20/06/2027 (32,637) (0.06)
2,000,000 USD Bank of America Emirate of Abu Dhabi Buy (1.00)% 20/06/2027 (50,260) (0.10)
Merrill Lynch 3.125% 03/05/2026
Bank of America Finland Government
2,000,000 USD Buy (1.00)% 20/12/2026 (11,759) (0.02)
Merrill Lynch Bond 6.95% 15/02/2026
2,000,000 EUR UBS iTraxx Europe.37-V1 Buy (1.00)% 20/06/2027 (31,503) (0.06)
10,000,000 USD J.P. Morgan Kingdom of Saudi Arabia Buy (1.00)% 20/06/2027 (241,234) (0.48)
Bond 4% 17/04/2025
2,000,000 USD Bank of America Mexico Government Buy (1.00)% 20/06/2027 (3,306) (0.01)
Merrill Lynch Bond 4.15% 28/03/2027
Bank of America Peru Government Bond
1,500,000 USD Buy (1.00)% 20/06/2027 (17,227) (0.03)
Merrill Lynch 8.75% 21/11/2033
Total unrealised loss on credit default swap contracts – Liabilities (387,926) (0.76)
Net unrealised gain on credit default swap contracts – Assets 49,560 0.10


Interest Rate Swap Contracts
Unrealised % of
Nominal Maturity gain/(loss) Net
Amount Currency Counterparty Security Description Date USD Assets
Pay floating HUF-BUBOR 6 month
400,000,000 HUF UBS 29/03/2027 28,790 0.06
Receive fixed 7.0807%
Total unrealised gain on interest rate swap contracts – Assets 28,790 0.06
Bank of America Pay floating MIBOR 1 day
75,000,000 INR 11/02/2026 (21,148) (0.04)
Merrill Lynch Receive fixed 5.125%
Pay floating NZD-BBR 3 month
3,600,000 NZD UBS 02/11/2023 (34,840) (0.07)
Receive fixed 2.20%
Total unrealised loss on interest rate swap contracts – Liabilities (55,988) (0.11)
Net unrealised loss on interest rate swap contracts – Liabilities (27,198) (0.05)

Market
Value % of
Quantity Security Description Currency Counterparty USD Net Assets
50 EUR/USD, Call, 99, 19/06/2023 USD UBS 7,500 0.01
Total market value on option purchased contracts - Assets 31,563 0.06
139
Jupiter Global Sustainable Equities (LUX)

Quantity/ Market
Nominal Value % of
Equities
Australia
Cochlear Limited AUD 2,351 396,757 2.91
CSL Limited AUD 2,770 556,302 4.08
953,059 6.99
Brazil
Itau Unibanco Holding BRL 11,750 68,530 0.50
68,530 0.50
France
Amundi SA EUR 2,647 184,589 1.36
Legrand SA EUR 3,885 374,419 2.75
559,008 4.11
Germany
Siemens AG EUR 1,526 215,710 1.58
215,710 1.58
Ireland
Accenture plc USD 1,885 637,996 4.69
637,996 4.69
Japan
Kao Corp. JPY 2,708 111,827 0.82
Keyence Corp. JPY 642 302,046 2.22
Murata Manufacturing Company Limited JPY 4,435 295,837 2.17
Omron Corp. JPY 4,692 316,720 2.32
1,026,430 7.53
Sweden
Essity AB SEK 7,797 186,752 1.37
Hexagon AB SEK 21,846 309,519 2.27
Svenska Handelsbanken AB - A SEK 24,441 230,096 1.69
726,367 5.33
Switzerland
Chubb Limited USD 2,109 458,708 3.37
927,446 6.81
Taiwan
Taiwan Semiconductor Manufacturing Company Limited TWD 5,000 104,182 0.77
104,182 0.77
United Kingdom
Unilever plc EUR 8,264 381,123 2.80
381,123 2.80
Jupiter Global Sustainable Equities (LUX)

Quantity/ Market
Nominal Value % of
Equities
United States
Adobe Inc. USD 1,044 480,303 3.53
Agilent Technologies Inc. USD 4,877 660,639 4.86
American Water Works Company Inc. USD 2,766 458,741 3.37
AO Smith Corp. USD 4,201 278,316 2.04
Automatic Data Processing Inc. USD 1,440 327,974 2.41
Chemed Corp. USD 607 308,629 2.27
Danaher Corp. USD 2,530 752,321 5.52
Ecolab Inc. USD 1,949 351,600 2.58
Estee Lauder Companies Inc. USD 1,008 281,394 2.07
Honeywell International Inc. USD 1,037 203,812 1.50
Jack Henry & Associates Inc. USD 2,594 511,692 3.75
Mastercard Inc. - A USD 834 302,108 2.22
Mettler-Toledo International Inc. USD 375 527,153 3.87
Paypal Holdings Inc. USD 2,402 284,613 2.09
Rockwell Automation Inc. USD 1,239 347,812 2.56
Sherwin-Williams Company USD 1,601 405,069 2.97
Texas Instruments Inc. USD 2,867 537,420 3.94
Tractor Supply Company USD 1,386 322,730 2.37
Visa Inc. - A USD 2,514 563,010 4.14
7,905,336 58.06
13,505,187 99.17
Cash 314,954 2.31
141

Quantity/ Market
Nominal Value % of
Equities
Brazil
Banco do Brasil SA BRL 1,150,000 8,411,052 2.11
Grendene SA BRL 2,000,000 4,191,380 1.05
M Dias Branco SA BRL 1,300,000 6,674,773 1.68
19,277,205 4.84
Canada
Barrick Gold Corp. USD 470,000 11,679,500 2.93
11,679,500 2.93
Czech Republic
Philip Morris International Inc. CZK 10,000 7,927,886 1.99
7,927,886 1.99
Denmark
Scandinavian Tobacco Group AS DKK 450,000 9,713,074 2.44
9,713,074 2.44
Finland
Nokia Oyj EUR 1,750,000 9,727,009 2.44
9,727,009 2.44
France
Societe Bic SA EUR 190,000 9,826,064 2.47
9,826,064 2.47
Germany
Bayer AG EUR 200,000 13,834,979 3.48
Continental AG EUR 100,000 7,392,932 1.85
Henkel AG & Company KGaA EUR 110,000 7,384,055 1.85
Hugo Boss AG EUR 180,000 10,661,000 2.68
Vitesco Technologies Group AG EUR 90,000 3,694,801 0.93
Volkswagen AG EUR 36,000 6,364,246 1.60
49,332,013 12.39
Hong Kong
Swire Pacific Limited HKD 1,760,000 10,767,391 2.70
10,767,391 2.70
Ireland
AIB Group plc EUR 5,400,000 12,016,093 3.02
12,016,093 3.02
Japan
Hazama Ando Corp. JPY 1,000,000 7,429,018 1.86
HI-LEX Corp. JPY 450,000 4,430,291 1.11
Kato Sangyo Company Limited JPY 300,000 7,815,261 1.96
Nippon Television Network Corp. JPY 660,000 6,909,973 1.73
Tadano Limited JPY 700,000 5,925,135 1.49
Toagosei Company Limited JPY 720,000 6,384,353 1.60
Ts Tech Company Limited JPY 630,000 7,118,791 1.79
46,012,822 11.54

Quantity/ Market
Nominal Value % of
Equities
Tp Icap Group plc GBP 4,000,000 7,927,802 1.99
WPP plc GBP 900,000 12,205,731 3.06
20,133,533 5.05
Netherlands
Airbus SE EUR 63,000 7,708,055 1.93
7,708,055 1.93
New Zealand
Sky Network Television Limited NZD 5,700,000 11,466,034 2.88
11,466,034 2.88
Spain
Grupo Catalana Occidente SA EUR 230,000 7,164,642 1.80
Prosegur Compania de Seguridad EUR 3,100,000 6,776,022 1.70
13,940,664 3.50
Turkey
Coca-Cola Icecek AS TRY 1,200,000 9,444,410 2.37
9,444,410 2.37
United Kingdom
Aviva plc GBP 1,800,000 10,799,399 2.71
BP plc GBP 2,300,000 11,323,763 2.84
BT Group plc GBP 4,320,000 10,339,639 2.60
Glaxosmithkline plc GBP 525,000 11,465,748 2.88
Kingfisher plc GBP 2,160,000 7,454,916 1.87
Shell plc GBP 470,000 12,920,939 3.25
Standard Chartered Bank GBP 1,960,000 13,254,024 3.33
77,558,428 19.48
United States
H&R Block Inc. USD 490,000 12,842,900 3.22
Harley-Davidson Inc. USD 260,000 10,389,600 2.61
Intel Corp. USD 160,000 8,228,800 2.07
Kyndryl Holdings Inc. USD 600,000 7,890,000 1.98
Molson Coors Brewing Company USD 180,000 9,774,000 2.45
Ralph Lauren Corp. USD 81,000 9,697,320 2.43
Western Union Company USD 530,000 10,197,200 2.56
69,019,820 17.32
395,550,001 99.29
Cash 1,663,773 0.42
143

Quantity/ Market
Nominal Value % of
Bonds
Governments
Mauritius (Govt of) 0.00% 10/03/2023 MUR 4,500,000 99,979 0.06
99,979 0.06
Total Bonds 99,979 0.06
Equities
Advertising
Bharat Petroleum Corp. Limited INR 1,309,326 6,207,975 3.81
Biocon Limited INR 385,408 1,707,702 1.05
7,915,677 4.86
Airlines
Interglobe Aviation Limited INR 173,521 4,605,275 2.82
4,605,275 2.82
Auto manufacturers
Force Motors Limited INR 47,135 631,387 0.39
Sml Isuzu Limited INR 40,790 267,524 0.16
898,911 0.55
Banks
Bank of Baroda INR 1,820,771 2,682,205 1.64
Canara Bank INR 655,773 1,971,651 1.21
Icici Bank Limited INR 575,579 5,544,449 3.40
Indian Bank INR 596,359 1,209,642 0.74
State Bank of India INR 1,340,506 8,726,360 5.35
20,134,307 12.34
Beverages
Varun Beverages Limited INR 172,833 2,132,563 1.32
2,132,563 1.32
Chemicals
Chemplast Sanmar Limited INR 90,497 795,576 0.49
Heranba Industries Limited INR 78,063 623,269 0.38
Tata Chemicals Limited INR 226,474 2,919,961 1.79
4,338,806 2.66
Commercial services
Adani Ports & Special Economic Zone INR 174,634 1,781,259 1.09
One 97 Communications Limited INR 134,427 934,295 0.57
Quess Corp. Limited INR 89,091 773,604 0.47
3,489,158 2.13
Construction and Building materials
Prism Johnson Limited INR 2,290,732 3,471,250 2.13
3,471,250 2.13
Cosmetics and personal care
Procter & Gamble Hygiene and Health Care Limited INR 15,196 2,891,810 1.77
Ttk Healthcare Limited INR 45,411 496,736 0.30
3,388,546 2.07

Quantity/ Market
Nominal Value % of
Equities
Bodal Chemicals Limited INR 344,221 457,789 0.28
457,789 0.28
Elpro International Limited INR 1,622,750 1,293,492 0.79
Exide Industries Limited INR 702,447 1,400,263 0.86
2,693,755 1.65
Apollo Micro Systems Limited INR 57,266 89,971 0.06
89,971 0.06
Larsen & Toubro Limited INR 260,120 6,067,137 3.72
Texmaco Rail & Engineering Limited INR 830,945 457,007 0.28
6,524,144 4.00
Financial services
Bajaj Consumer Care Limited INR 402,231 852,371 0.52
Bse Limited INR 80,715 1,002,722 0.61
Bse Limited INR 190,158 2,362,333 1.45
Container Corp. of India Limited INR 155,915 1,380,502 0.85
Sbi Cards & Payment Services INR 110,183 1,235,754 0.76
6,833,682 4.19
Food
Adani Wilmar Limited INR 342,187 2,334,239 1.43
Milkfood Limited INR 58,154 288,948 0.18
Tasty Bite Eatables Limited INR 15,754 2,261,290 1.39
4,884,477 3.00
Healthcare services
Fortis Healthcare Limited INR 2,212,762 8,459,037 5.19
8,459,037 5.19
Insurance
ICICI Lombard General Insurance Company Limited INR 69,894 1,223,114 0.75
Max Financial Services Limited INR 348,123 3,454,823 2.12
Sbi Life Insurance Company Limited INR 303,720 4,480,257 2.75
Star Health and Allied Insurance Company Limited INR 55,568 521,692 0.32
9,679,886 5.94
Cartrade Tech Limited INR 92,230 699,319 0.43
699,319 0.43
Lodging
Eih Associated Hotels INR 979,302 5,680,032 3.48
Royal Orchid Hotels Limited INR 221,773 353,477 0.22
The Byke Hospitality Limited INR 306,509 148,350 0.09
6,181,859 3.79
145

Quantity/ Market
Nominal Value % of
Equities
Machinery
Triveni Turbine Limited INR 555,918 1,484,347 0.91
1,484,347 0.91
Medical
Sun Pharmaceutical Industries Limited INR 610,189 7,389,326 4.53
7,389,326 4.53
Mining (non precious)
Deccan Gold Mines Limited INR 657,764 289,495 0.18
289,495 0.18
Escorts Limited INR 23,941 531,743 0.33
531,743 0.33
Oil and gas producers
Hindustan Petroleum Corp. INR 2,191,083 7,796,402 4.77
7,796,402 4.77
Pharmaceuticals
Dr. Reddy's Laboratories INR 14,265 807,897 0.50
Glenmark Life Sciences Limited INR 94,581 571,076 0.35
Natco Pharma Limited INR 203,301 2,024,229 1.24
3,403,202 2.09
Plastics and Rubber
Olectra Greentech Limited INR 308,270 2,715,651 1.67
2,715,651 1.67
Real estate
Indiabulls Real Estate Limited INR 1,067,551 1,424,344 0.87
1,424,344 0.87
Real estate investment trust
Anant Raj Limited INR 124,232 106,034 0.07
106,034 0.07
Retail
Kddl Limited INR 140,772 1,812,717 1.11
1,812,717 1.11
Software
HCL Technologies Limited INR 497,081 7,627,615 4.68
Nazara Technologies Limited INR 38,107 824,212 0.51
Pb Fintech Limited INR 118,206 1,076,532 0.66
Rategain Travel Technologies INR 116,379 513,397 0.31
Tech Mahindra Limited INR 282,879 5,588,905 3.43
15,630,661 9.59
Bharti Airtel Limited INR 31,499 164,780 0.10
Bharti Airtel Limited INR 431,689 4,314,053 2.65
4,478,833 2.75

Quantity/ Market
Nominal Value % of
Equities
Textiles
Arvind Limited INR 364,249 555,929 0.34
Himatsingka Seide Limited INR 306,671 612,737 0.38
Lux Industries Limited INR 61,169 1,767,730 1.08
2,936,396 1.80
Tobacco
Godfrey Phillips India Limited INR 694,103 9,244,579 5.66
9,244,579 5.66
156,222,121 95.80
Equities
Non–Profit Charity
Hirco plc* GBP 50,000 – –
– –
Total Equities – –
– –
market instruments
Cash 7,232,348 4.44
147

Quantity/ Market
Nominal Value % of
Equities
Advertising
Direct Marketing MiX Inc. JPY 203,300 3,050,711 1.36
3,050,711 1.36
Auto manufacturers
Toyota Motor Corp. JPY 771,200 14,085,483 6.27
14,085,483 6.27
Bridgestone Corp. JPY 225,800 8,828,996 3.93
8,828,996 3.93
Banks
Sumitomo Mitsui Financial Group Inc. JPY 357,200 11,468,796 5.11
11,468,796 5.11
Chemicals
Kh Neochem Company JPY 180,100 4,086,421 1.82
Shin-Etsu Chemical Company Limited JPY 63,800 9,851,683 4.39
13,938,104 6.21
Commercial services
Net Protections Holdings Inc. JPY 484,500 2,822,949 1.26
Nomura Company Limited JPY 443,100 3,342,777 1.49
Visional Inc. JPY 81,500 5,063,401 2.25
11,229,127 5.00
Construction and Building materials
Hazama Ando Corp. JPY 998,500 7,417,874 3.30
7,417,874 3.30
Fanuc Corp. JPY 50,400 8,965,016 3.99
8,965,016 3.99
Iriso Electronics Company Limited JPY 129,700 3,559,995 1.59
NEC Corp. JPY 193,000 8,168,221 3.64
Sony Group Corp. JPY 125,400 13,118,644 5.83
24,846,860 11.06
Nippon Densetsu Kogyo Company Limited JPY 102,700 1,336,024 0.60
1,336,024 0.60
Financial services
Aruhi Corp. JPY 397,000 3,252,735 1.45
eGuarantee Inc. JPY 140,300 2,364,756 1.05
Orix Corp. JPY 476,700 9,588,062 4.28
Wealthnavi Inc. JPY 163,700 2,788,759 1.24
17,994,312 8.02
Healthcare services
Ship Healthcare Holdings Inc JPY 167,100 2,729,957 1.22
2,729,957 1.22

Quantity/ Market
Nominal Value % of
Equities
Home Builders
Sekisui House Limited JPY 383,100 7,464,602 3.33
7,464,602 3.33
Insurance
Tokio Marine Holdings Inc. JPY 204,500 11,979,094 5.34
11,979,094 5.34
Recruit Holdings Company Limited JPY 200,100 8,902,834 3.96
Retty Inc. JPY 131,800 466,827 0.21
9,369,661 4.17
Leisure and entertainment
Roland Corp. JPY 190,800 6,326,811 2.82
6,326,811 2.82
Medical
Nakanishi Inc. JPY 214,100 3,972,863 1.77
3,972,863 1.77
Metal fabrication
Tsubaki Nakashima Company JPY 282,000 2,240,983 1.00
2,240,983 1.00
Real estate investment trust
Katitas Company Limited JPY 150,700 4,185,939 1.86
Star Asia Investment Corp. JPY 15,894 8,111,250 3.62
12,297,189 5.48
Retail
Pan Pacific International Holdings Corp. JPY 169,800 2,740,578 1.22
2,740,578 1.22
Software
Jmdc Inc. JPY 62,100 3,449,859 1.54
Prestige International Inc. JPY 456,600 2,720,425 1.21
Simplex Holdings Inc. JPY 144,400 2,287,901 1.02
Technopro Holdings Inc. JPY 154,200 4,219,797 1.88
WingArc1st Inc. JPY 193,000 2,250,623 1.00
14,928,605 6.65
KDDI Corp. JPY 351,600 11,572,158 5.16
Softbank Corp. JPY 955,000 11,207,134 4.99
22,779,292 10.15
219,990,938 98.00
Cash 3,191,178 1.42
149

Unrealised
GBP 95,812 JPY 14,637,757 14/04/2022 Citibank 5,420 –
JPY 250,710 GBP 1,560 14/04/2022 Citibank 14 –
GBP 6,390 JPY 1,026,537 14/04/2022 Citibank (50) –
JPY 185,488 GBP 1,214 14/04/2022 Citibank (68) –
Total Unrealised Loss on Forward Currency Exchange Contracts – Liabilities (118) –
Net Unrealised Gain on Forward Currency Exchange Contracts – Assets 5,316 –
Jupiter Pan European Smaller Companies

Quantity/ Market
Nominal Value % of
Equities
Agriculture
Genus plc GBP 185,793 6,237,502 3.04
6,237,502 3.04
Apparel
Brunello Cucinelli SpA EUR 82,918 4,494,156 2.19
Dr. Martens plc GBP 1,360,312 3,886,195 1.89
Puma AG Rudolf Dassler Sport EUR 47,213 3,672,227 1.79
12,052,578 5.87
Dometic Group AB SEK 281,624 2,212,179 1.08
2,212,179 1.08
Banks
Finecobank Banca Fineco SpA EUR 476,663 6,699,499 3.26
6,699,499 3.26
Beverages
Davide Campari-Milano NV EUR 92,432 983,245 0.48
Remy Cointreau EUR 8,454 1,584,280 0.77
2,567,525 1.25
Biotechnology
Abcam plc GBP 224,911 3,638,371 1.77
Vitrolife AB SEK 84,221 2,506,931 1.22
6,145,302 2.99
Building materials
Belimo Holding AG CHF 5,775 2,790,251 1.36
Carel Industries SpA EUR 74,953 1,800,746 0.88
4,590,997 2.24
Chemicals
IMCD NV EUR 37,182 5,788,308 2.82
5,788,308 2.82
Commercial services
Allfunds Group plc EUR 564,221 5,935,041 2.89
Karnov Group AB SEK 271,046 1,565,351 0.76
Wag Payment Solutions plc GBP 1,681,369 2,034,734 0.99
9,535,126 4.64
Computers and peripherals
Cherry AG EUR 108,841 1,703,362 0.83
1,703,362 0.83
Consumer goods
Fluidra SA EUR 241,611 6,444,973 3.14
6,444,973 3.14
Azelis Group NV EUR 149,123 3,351,167 1.63
Marr SpA EUR 370,094 5,664,288 2.76
9,015,455 4.39
151

Quantity/ Market
Nominal Value % of
Equities
Somfy SA EUR 31,518 4,595,324 2.24
4,595,324 2.24
Comet Holding AG CHF 26,708 7,197,226 3.51
LEM Holding SA CHF 1,034 2,259,861 1.10
9,457,087 4.61
Financial services
Avanza Bank Holding AB SEK 48,854 1,144,640 0.56
doValue SpA EUR 271,256 2,153,773 1.05
Elis SA EUR 485,721 6,523,233 3.18
GVS SpA EUR 183,719 1,500,066 0.73
IntegraFin Holdings plc GBP 681,028 3,408,607 1.66
Nordnet AB SEK 126,708 2,043,309 1.00
VZ Holding AG CHF 61,717 5,242,046 2.54
22,015,674 10.72
Healthcare products
Skan Group AG CHF 34,243 2,124,217 1.03
2,124,217 1.03
Healthcare services
Eurofins Scientific SE EUR 16,400 1,488,054 0.72
1,488,054 0.72
Healthcare supplies and equipment
Diasorin SpA EUR 3,172 450,900 0.22
Stratec Biomedical AG EUR 20,787 2,228,366 1.09
Tecan Group AG CHF 9,598 3,464,818 1.68
6,144,084 2.99
Home furnishings
Howden Joinery Group plc GBP 467,243 4,310,176 2.10
4,310,176 2.10
Industrials
Stabilus GmbH EUR 48,822 2,250,206 1.10
2,250,206 1.10
Insurance
Tryg A/S DKK 239,409 5,267,266 2.57
5,267,266 2.57
Rightmove plc GBP 494,143 3,764,502 1.83
3,764,502 1.83
Leisure
Thule Group AB SEK 99,873 3,631,741 1.77
3,631,741 1.77
Leisure and entertainment
CTS Eventim AG EUR 51,698 3,207,344 1.56
3,207,344 1.56

Quantity/ Market
Nominal Value % of
Equities
Machinery
Interroll Holding AG CHF 1,407 4,250,935 2.06
Marel HF ISK 329,166 1,764,112 0.86
Marel HF EUR 222,431 1,183,333 0.58
SIG Combibloc Group AG CHF 80,893 1,862,171 0.91
Weir Group plc GBP 189,776 3,762,567 1.83
12,823,118 6.24
Medical
Fagron EUR 263,343 4,387,294 2.14
4,387,294 2.14
Metal fabrication
Vat Group AG CHF 11,915 4,171,181 2.03
4,171,181 2.03
Knorr-Bremse AG EUR 29,166 2,045,412 1.00
2,045,412 1.00
Packaging and containers
Corticeira Amorim SGPS SA EUR 140,851 1,426,821 0.69
Gerresheimer AG EUR 38,338 2,566,729 1.25
3,993,550 1.94
Pharmaceuticals
Dechra Pharmaceuticals plc GBP 33,008 1,583,748 0.77
1,583,748 0.77
Software
Atoss Software AG EUR 14,175 2,567,093 1.25
Aveva Group plc GBP 123,546 3,601,126 1.75
Lectra EUR 69,007 3,031,133 1.48
Nexus AG EUR 46,980 2,534,571 1.23
Reply SpA EUR 22,876 3,441,694 1.68
Simcorp A/S DKK 34,393 2,289,011 1.11
Temenos Group AG CHF 54,296 4,792,707 2.34
Vitec Software Group AB SEK 26,381 1,214,128 0.59
23,471,463 11.43
Telecommunication equipment
Infrastrutture Wireless Italiane SpA EUR 375,567 3,853,317 1.88
3,853,317 1.88
197,577,564 96.22
Cash 1,102,326 0.54
153

Unrealised
EUR 2,735 GBP 2,295 14/04/2022 Citibank 21 –
EUR 9,190 USD 10,098 14/04/2022 Citibank 93 –
USD 6,497 EUR 5,848 14/04/2022 Citibank 7 –
Total unrealised gain on forward currency exchange contracts – Assets 121 –
GBP 54,851 EUR 65,298 14/04/2022 Citibank (444) –
USD 233,733 EUR 211,570 14/04/2022 Citibank (1,002) –
Total unrealised loss on forward currency exchange contracts – Liabilities (1,446) –
Net unrealised loss on forward currency exchange contracts – Liabilities (1,325) –
Notes to the Financial Statements

1. General Information
The Jupiter Global Fund (the ‘Company’) is an open-ended investment company which qualifies as an undertaking
for collective investment in transferable securities (UCITS) under part I of the law of 17 December 2010 (as
amended) regarding undertakings for collective investment. The Company was incorporated in Luxembourg as a
société d’investissement à capital variable (SICAV) on 22 September 2005 for an unlimited duration.
The Company may issue multiple classes of Shares in several funds (the ‘Funds’). A separate pool of assets and
liabilities is maintained for each Fund and is invested in accordance with the investment objective applicable to
the relevant Fund. All liabilities attributable to a particular Fund are binding solely upon that Fund.
As at 31 March 2022 the Company was comprised of the following Funds with the following Share Classes in issue:
Share Class
Jupiter Asia Pacific Income (1) A C D – – – – L N – –
Jupiter Dynamic Bond A C D – – – I L N – –
Jupiter Dynamic Bond ESG (1) – – D – – – I L – – X
Jupiter European Growth A C D E – – I L N – –
Jupiter Europe ex-UK Equity (1) – – – – – – I – – – –
Jupiter Financial Innovation A – D – – – – L N – –
Jupiter Flexible Income (1) A C D – F – I L N – –
Jupiter Flexible Macro (LUX) (1) – – D – F – I L – – –
Jupiter Global Convertibles A C D – – – I L N – –
Jupiter Global Ecology Bond (1) – – D – – G I – – – –
Jupiter Global Ecology Diversified (1) – – D – – – I L – – –
Jupiter Global Ecology Growth – – D – – – – L – – –
Jupiter Global Emerging Markets Corporate Bond (1) A C D – – – I L N – –
Jupiter Global Emerging Markets Short Duration Bond A C D – F – I L N – –
Jupiter Global Equity Growth Unconstrained (1) A – D – – G I L N – –
Jupiter Global High Yield Bond (1) – – D – F – I L – – –
Jupiter Global Sovereign Opportunities (1) A – D – – – I L N – –
Jupiter Global Sustainable Equities (LUX) (1) A – D – – G I L N T –
Jupiter Global Value – – D – – – I L – – –
Jupiter India Select – – D – – – – L – – –
Jupiter Japan Select A – D – – – I L N – –
Jupiter Pan European Smaller Companies (1) A C D – F – I L N – –
(1)
This Fund is not authorised in Hong Kong and not available to Hong Kong residents.
Institutional Only Retail Only Either

F, G, I & X Z A, C, D, E, L, N, S & T
Full details of Share Class features disclosed in the prospectus.

The Share Class names reflect the specifications of each Class, including their respective (i) categories (A, C, D, E, F,
G, I, L, N, S, T, X or Z), (ii) reference currencies, (iii) distribution policies (accumulation or distribution of income)
and if the latter case, the frequency thereof, i.e. annually (‘A Inc’), quarterly (‘Q Inc’) or monthly (‘M Inc’) and (iv)
hedging status (Hedged Share Class (HSC) or Portfolio Hedged Share Class (PHSC)).
For example:
Share Class L EUR A Inc Dist distributes income annually with payment (no automatic reinvestment by default).
Share Class D USD Acc HSC is a non-distributing hedged Share Class.
Share Class L GBP Q Inc HSC is a hedged class distributing income quarterly.
For more information please refer to the Key Features section of the prospectus under the sub-heading Share
Classes and Features.
155

1. General Information (continued)
Fund Rename
Jupiter Flexible Macro (LUX) renamed from Jupiter Flexible Macro on 1 November 2021.
Jupiter Europe ex-UK Equity renamed from Jupiter Eurozone Equity on 16 December 2021.
Fund Launch
Fund Base Currency Launched Date

Jupiter Dynamic Bond ESG EUR 25 January 2022
Jupiter Global Ecology Bond EUR 19 January 2022
2. Summary of Significant Accounting Policies

a) Basis of preparation
The financial statements have been prepared in conformity with Luxembourg generally accepted accounting principles
applicable to investment funds. The financial statements have been prepared on a going concern basis.
b) Financial Statements
Financial statements are presented for each Fund in the base currency of the Fund, the combined Statement of
Net Assets and combined Statement of Operations and Changes in Net Assets of the Company are presented in
Euro (€), based on the exchange rate ruling at the date of these financial statements.
The net asset values have been calculated by reference to the valuation day which might differ from their value
on a dealing day. The financial statements presented in this report have been prepared on the basis of the latest
calculated net asset values in the period.
The difference between opening Net Assets stated at exchange rates ruling at the beginning of the period and
their value at the end of the period is shown as a ‘Foreign currency translation difference’ in the Statement of
Operations and Changes in Net Assets.
c) Foreign currency translation
Assets and liabilities denominated in currencies other than a Fund’s base currency are translated into that base
currency at exchange rates ruling at the date of these financial statements. Transactions occurring during the
period in currencies other than the base currency are translated at rates of exchange ruling on the transaction
dates. Differences arising on translation are included in the Statement of Operations and Changes in Net Assets.
d) Investments
Securities are initially recognised at cost, being the fair value of the consideration given.
Securities listed on an official stock exchange or dealt in on any regulated market are valued at the last available
price at the company’s valuation point.
Closed-ended funds are valued at their last available price. Wherever practicable, the last available Net Asset
Value is deemed to include the Net Asset Value calculated on the same Valuation day for any underlying fund
which itself has a valuation point at or before the Company’s Valuation Point being 1pm Luxembourg time.
In the event that any of the securities held by a Fund on the relevant day are not listed on any stock exchange or
dealt in on any regulated market or if, with respect to securities listed on any stock exchange or dealt in on any
other regulated market, the basis of the price as determined above is not representative of the fair market value
of the relevant securities, the value of such securities will be determined based on the reasonably foreseeable
sales price determined prudently and in good faith, as delegated by the Board of Directors of the Company, by
Jupiter Asset Management International S.A..

2. Summary of Significant Accounting Policies (continued)
d) Investments (continued)
Fund Number of Market % of

Fund Currency Fair Valued Assets Holding Value Net Assets
Jupiter Dynamic Bond EUR 21 6,325,379,240 629,505,643 7.28
Jupiter Financial Innovation EUR 1 22,943 1,219,987 1.32
Jupiter Global Sovereign Opportunities USD 3 20,430,000 3,281,752 6.49
Jupiter India Select USD 1 50,000 – –
Gains or losses arising on the disposal of investments are calculated by reference to the first-in-first-out (FIFO)
methodology.
All purchases and sales of securities are recognised on the trade date, i.e. the date the Fund commits to purchase
or sell the security.
e) Contracts for difference
Contracts for difference are valued using the local daily price of the underlying listed equity then converted into
the currency of the relevant Fund. The unrealised gain/(loss) on contracts for difference is included in the
Statement of Net Assets as ‘Unrealised gain on contracts for difference’ or ‘Unrealised loss on contracts for
difference’. Contracts for difference are reset at month end after the Valuation Point.
Dividends on contracts for difference on underlying securities of contracts for difference are included in the
Statement of Net Assets in ‘Dividends receivable’ for long positions and in ‘Dividends payable’ for short positions.
Interest calculated on contracts for difference is included in the Statement of Net Assets in ‘Interest receivable’
for short positions and in ‘Interest payable’ for long positions.
f) Credit default swap contracts
A credit default swap contracts (‘CDS’) is a transaction in which two parties enter into an agreement, whereby the
buyer pays the seller a periodic payment for the specified life of the agreement. The seller makes no payments
unless a credit event, relating to a predetermined reference asset, occurs. If such an event does occur, the seller
will then make a payment to the buyer, and the swap contract will terminate.
CDS contracts are valued by reference to service data providers, market data and algorithms.
The unrealised gain/(loss) on credit default swap contracts is included in the Statement of Net Assets as
‘Unrealised gain on swap contracts’ or ‘Unrealised loss on swap contracts’’.
The notional amount represents the highest potential liability of a contract and is not shown in the Statement of
Net Assets.
g) Interest Rate Swap Contracts
An interest rate swap contract (‘IRS’) is a bilateral agreement in which each of the parties agree to exchange a
series of interest payments for another series of interest payments (usually fixed/floating) based on a notional
amount that serves as a computation basis and that is usually not exchanged.
The unrealised gain/(loss) on interest rate swap contracts is included in the Statement of Net Assets as
‘Unrealised gain on swap contracts’ or ‘Unrealised loss on swap contracts’.
157

h) Options
Options are contractual agreements that convey the right, but not the obligation, for the purchaser either to buy
or sell a specific amount of a financial instrument at a fixed price, either at a fixed future date or at any time
before maturity.
The value of options which are listed on any official stock exchange or dealt in on any Regulated Market are
valued at the last available price at the company’s valuation point.
Over-The-Counter (‘OTC’) options are valued using the Black-Scholes model. Options are valued by reference to
the expected future cash flow based on the market implied performance, spot level and the volatility of the
underlying asset(s).
The Company may purchase and sell put and call options through regulated exchanges and OTC markets. Options
purchased by the Company provide the Company with the opportunity to purchase (call options) or sell (put
options) the underlying asset at an agreed-upon value either on or before the expiration of the option. The
Company is exposed to credit risk on purchased options only to the extent of their carrying amount, which is
their market value.
i) Forward currency exchange contracts
The Company may enter into forward currency exchange contracts to hedge against exposures to foreign
currency fluctuations. The carrying value of these contracts is the gain or loss that would be realised if the
position was closed out on the valuation date, and is included in the Statement of Net Assets as ‘Unrealised
gain on forward currency exchange contracts’ and ‘Unrealised loss on forward currency exchange contracts’.
Upon the closing of the contract, the gain or loss is recorded in the ‘Net realised gain/(loss) on forward
currency exchange contracts’.
j) Financial future contracts
Regulated financial future contracts are valued at the exchange quoted settlement price. Initial margin deposits are
made upon entering into the contracts and can be either in cash or securities. During the period the contracts are open,
changes in the value of the contracts are recognised as unrealised gains and losses by ‘marking-to-market’ on a daily
basis to reflect the market value of the contracts at the end of each business day’s trading. The unrealised gain/(loss) on
financial futures contracts is included in the Statement of Net Assets as ‘Unrealised gain on financial future contracts’ or
‘Unrealised loss on financial future contracts’. Variation margin payments are made or received, depending upon
whether losses or gains are incurred. When a contract is closed, the Company records a realised gain or loss equal to
the difference between the proceeds from, or cost of, the closing transaction and the initial cost of the contract.
k) Income recognition
Bonds may be purchased at a discount or at a premium. Such discount or premium is amortised over the life of
the bond using straight line amortisation. Amortisation is recorded as part of interest income included in ‘Interest
income from investments, net of withholding taxes’ in the Statement of Operations and Changes in Net Assets.
Interest income is recognised as the interest accrues unless collectability is in doubt.
Dividend income is recognised when the right to receive the dividend is established.
Income is presented net of withholding taxes in the Statement of Operations and Changes in Net Assets.

l) Expense recognition
Expenses are accounted for on an accrual basis. Expenses are charged to the Statement of Operations and Changes in
Net Assets except for expenses incurred on the acquisition of an investment which are included within the cost of that
investment and expenses arising on the disposal of investments, which are deducted from the disposal proceeds.
m) Dividend distributions payable
Dividend distributions payable by the Company are recorded on the ex-date.
n) Net Asset Value per Share
The Net Asset Value per Share is calculated by dividing the Net Assets of the relevant Class of Shares in a Fund included
in the Statement of Net Assets by the number of Shares of the relevant Class in that Fund in issue at the period end.
o) Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in Luxembourg
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. Actual results could differ from those estimates.
3. Exchange rate
The exchange rate used for the financial statements as at 31 March 2022 is as follows:
Currency Rate
EUR = 1
USD 1.10955
159

4. Investment Management
The Management Company appointed Jupiter Asset Management Limited (‘JAML’) as Investment Manager to
provide certain administrative and management services.
The Investment Management Fee is calculated and accrued per Fund on the basis of the daily Net Asset Value of
each Fund and is payable monthly in arrears. The fee rates per annum charged and applicable to each Class of
Shares during the period ended 31 March 2022 are as follows:
A C D E F G I
Fund % % % % % % %
Jupiter Asia Pacific Income 1.800 1.100 0.750 – – – 0.750
Jupiter Dynamic Bond 1.650 1.000 0.500 – – – 0.500
Jupiter Dynamic Bond ESG 1.650 1.000 0.500 – – – 0.500
Jupiter European Growth 1.800 1.100 0.750 2.000 – – 0.750
Jupiter Europe ex-UK Equity – – 0.750 – – – 0.750
Jupiter Financial Innovation 1.800 – 0.750 – – – 0.750
Jupiter Flexible Income 1.450 1.100 0.600 – 0.450 – 0.600
Jupiter Flexible Macro (LUX) – – 0.600 – 0.450 – 0.600
Jupiter Global Convertibles 1.800 1.100 0.750 – – 0.500 0.750
Jupiter Global Ecology Bond 1.650 – 0.350 – – 0.200 0.350
Jupiter Global Ecology Diversified – – 0.650 – – – 0.650
Jupiter Global Ecology Growth – – 0.500 – – – 0.500
Jupiter Global Emerging Markets Corporate Bond 1.650 1.000 0.650 – – – 0.650
Jupiter Global Emerging Markets Short Duration Bond 1.550 1.000 0.550 – 0.450 – 0.550
Jupiter Global Equity Growth Unconstrained 1.800 1.100 0.750 – – 0.500 0.750
Jupiter Global High Yield Bond – – 0.550 – 0.400 – 0.550
Jupiter Global Sovereign Opportunities 1.550 1.000 0.500 – 0.350 – 0.500
Jupiter Global Sustainable Equities (LUX) 1.800 – 0.750 – – 0.400 0.750
Jupiter Global Value – – 0.750 – – – 0.750
Jupiter India Select – – 0.750 – – – 0.750
Jupiter Japan Select 1.800 – 0.750 – – – 0.750
Jupiter Pan European Smaller Companies 1.800 1.100 0.750 – 0.600 – 0.750
1 Fund liquidated on 15 December 2020.

2 Jupiter European Opportunities merged into Jupiter European Growth on 18 December 2020.

4. Investment Management (continued)
L N S T X Z
Fund % % % % % %
Jupiter Asia Pacific Income 1.500 2.100 – – – –
Jupiter Dynamic Bond 1.250 1.900 0.000 – – 0.475
Jupiter Dynamic Bond ESG 1.250 1.900 – – 0.500 –
Jupiter European Growth 1.500 2.100 – – – –
Jupiter Europe ex-UK Equity 1.500 – – – – –
Jupiter Financial Innovation 1.500 2.100 – – – –
Jupiter Flexible Income 1.250 1.650 – – – –
Jupiter Flexible Macro (LUX) 1.250 – – – – –
Jupiter Global Convertibles 1.500 2.100 – – – –
Jupiter Global Ecology Bond 0.700 1.900 – – – –
Jupiter Global Ecology Diversified 1.250 – – – – –
Jupiter Global Ecology Growth 1.500 – – – – –
Jupiter Global Emerging Markets Corporate Bond 1.400 1.900 – – – –
Jupiter Global Emerging Markets Short Duration Bond 1.100 1.750 – – – –
Jupiter Global Equity Growth Unconstrained 1.500 2.100 – – – –
Jupiter Global High Yield Bond 1.100 – – – – –
Jupiter Global Sovereign Opportunities 1.100 1.750 – – – –
Jupiter Global Sustainable Equities (LUX) 1.500 2.100 – 0.550 – –
Jupiter Global Value 1.500 – – – – –
Jupiter India Select 1.750 – – – – –
Jupiter Japan Select 1.500 2.100 – – – –
Jupiter Pan European Smaller Companies 1.500 2.100 – – – –
Where a Fund invests in other funds managed by the same Investment Manager, the Fund will not be subject to
additional management fees. These related management fee reimbursements are included in ‘Management fee
rebates’ in the Statement of Operations and Changes in Net Assets and amounted to €411,706 for the six month
period ended 31 March 2022 as follows:
Fund Fund Currency Amount

Jupiter Dynamic Bond EUR 400,558
Jupiter Flexible Income EUR 7,111
Jupiter Flexible Macro (LUX) EUR 4,037
Where a Feeder Fund invests in a Master Fund managed by the same Investment Manager, the management fees
are charged at the Feeder Fund level only.
None of the Funds are entitled to accrue a performance fee on any of the Classes of Shares.
161

5. Aggregate Operating Fee
To seek to protect the Shareholders from fluctuations in ordinary operating expenses, the Company shall pay to
the Management Company a fixed level of fee (the ‘Aggregate Operating Fee’), which will be determined as an
annual percentage of the Net Asset Value of the Class of Shares for each Fund, and the Management Company
will be responsible for paying all of the ordinary fees and expenses out of the Aggregate Operating Fee received
by it, including (but not limited to) the following:
Management Company fees and expenses;
Depositary, fund accounting, transfer agency and fiduciary fees payable to J.P. Morgan Bank Luxembourg S.A.
(until 11 October 2021) and Citibank Europe plc, Luxembourg Branch (since 11 October 2021). The depositary fee
consists of safekeeping, administration and transaction charges;
Set up costs incurred in connection with the launch of a new Fund;
Costs of operating special purpose subsidiaries;
Any fees and expenses involved in registering and maintaining the registration of the Fund with any
governmental agencies or stock exchanges in the Grand Duchy of Luxembourg and in any other country
together with associated support fees;
Paying agent fees;
Dividend/income distribution fees;
Costs of agents employed by the Company, Correspondents and permanent representatives in places of
registration;
Financial and regulatory reporting costs;
Governmental charges, taxes and duties;
Costs related to the preparation and filing of tax or other reports in respect of the operations of the Company
or its Shareholders;
Costs related to the preparation and publication of data, literature and shareholder communications, including
the costs of preparing, printing and distributing prospectuses, Key Investor Information Documents (‘KIIDs’), Key
Facts Statements (‘KFSs’) (for Hong Kong investors), explanatory memoranda, periodical reports or registration
statements, and the costs of any reports to Shareholders;
Directors’ remuneration, their insurance coverage and reasonable travelling costs and out-of-pocket expenses
in connection with board meetings;
Legal fees; and
Audit fees.
Save for the payment of the Aggregate Operating Fee, the Company shall have no obligation with respect to the
ordinary operating expenses.
The Aggregate Operating Fee will accrue on a daily basis. The application of the Aggregate Operating Fee against
capital or income is fund specific and further details are published in the Company’s prospectus which is available
at www.jupiteram.com. The Aggregate Operating Fee is accrued at each calculation of the Net Asset Value and is
disclosed in the relevant KIIDs and (for Hong Kong Investors) KFSs from time to time by comprising part of the
ongoing charges of a Share Class.


5. Aggregate Operating Fee (continued)
The Aggregate Operating Fee is calculated and accrued per Fund on the basis of the daily Net Asset Value of each
Fund at each Valuation Point and is payable monthly. The fee rates per annum charged and applicable to each
Class of Shares during the period ended 31 March 2022 are as follows:
A C D E F G I
Fund % % % % % % %
Jupiter Asia Pacific Income 0.22 0.20 0.20 – – – 0.16
Jupiter Dynamic Bond 0.20 0.18 0.18 – – – 0.14
Jupiter Dynamic Bond ESG 0.20 0.18 0.18 – – – 0.14
Jupiter European Growth 0.22 0.20 0.20 0.16 – – 0.16
Jupiter Europe ex-UK Equity – – 0.20 – – – 0.16
Jupiter Financial Innovation 0.22 – 0.20 – – – 0.16
Jupiter Flexible Income 0.22 0.20 0.20 – 0.16 – 0.16
Jupiter Flexible Macro (LUX) – – 0.20 – 0.16 – 0.16
Jupiter Global Convertibles 0.22 0.20 0.20 – – 0.16 0.16
Jupiter Global Ecology Bond 0.20 – 0.18 – – 0.14 0.14
Jupiter Global Ecology Diversified – – 0.20 – – – 0.16
Jupiter Global Ecology Growth – – 0.20 – – – 0.16
Jupiter Global Emerging Markets Corporate Bond 0.20 0.18 0.18 – – – 0.14
Jupiter Global Emerging Markets Short Duration Bond 0.20 0.18 0.18 – 0.14 – 0.14
Jupiter Global Equity Growth Unconstrained 0.22 0.20 0.20 – – 0.16 0.16
Jupiter Global High Yield Bond – – 0.18 – 0.14 – 0.14
Jupiter Global Sovereign Opportunities 0.20 0.18 0.18 – 0.14 – 0.14
Jupiter Global Sustainable Equities (LUX) 0.22 – 0.20 – – 0.16 0.16
Jupiter Global Value – – 0.20 – – – 0.16
Jupiter India Select – – 0.20 – – – 0.16
Jupiter Japan Select 0.22 – 0.20 – – – 0.16
Jupiter Pan European Smaller Companies 0.22 0.20 0.20 – 0.16 – 0.16
163

5. Aggregate Operating Fee (continued)
L N S T X Z
Fund % % % % % %
Jupiter Asia Pacific Income 0.22 0.22 – – – –
Jupiter Dynamic Bond 0.20 0.20 0.14 – – 0.18
Jupiter Dynamic Bond ESG 0.20 0.20 – – 0.14 –
Jupiter European Growth 0.22 0.22 – – – –
Jupiter Europe ex-UK Equity 0.22 – – – – –
Jupiter Financial Innovation 0.22 0.22 – – – –
Jupiter Flexible Income 0.22 0.22 – – – –
Jupiter Flexible Macro (LUX) 0.22 – – – – –
Jupiter Global Convertibles 0.22 0.22 – – – –
Jupiter Global Ecology Bond 0.20 0.20 – – – –
Jupiter Global Ecology Diversified 0.22 – – – – –
Jupiter Global Ecology Growth 0.22 – – – – –
Jupiter Global Emerging Markets Corporate Bond 0.20 0.20 – – – –
Jupiter Global Emerging Markets Short Duration Bond 0.20 0.20 – – – –
Jupiter Global Equity Growth Unconstrained 0.22 0.22 – – – –
Jupiter Global High Yield Bond 0.20 – – – – –
Jupiter Global Sovereign Opportunities 0.20 0.20 – – – –
Jupiter Global Sustainable Equities (LUX) 0.22 0.22 – 0.20 – –
Jupiter Global Value 0.22 – – – – –
Jupiter India Select 0.22 – – – – –
Jupiter Japan Select 0.22 0.22 – – – –
Jupiter Pan European Smaller Companies 0.22 0.22 – – – –
Further details of the Aggregate Operating Fee are published in the Company’s prospectus which is available at
www.jupiteram.com.
6. Management Company Responsibilities

Jupiter Asset Management International S.A. (‘JAMI’) is appointed as the Management Company.
The list of the funds managed by the Management Company may be obtained, on request, at the registered
office of the Management Company.
The Management Company may market the Shares directly to investors and may enter into agreements to
appoint distributors to act as intermediaries or nominees for investors subscribing for Shares through their
facilities. The Management Company has also entered into a distribution agreement with Jupiter Asset
Management Limited.


6. Management Company Responsibilities (continued)
The Management Company has delegated its investment management functions to Jupiter Asset Management
Limited, the Investment Manager.
In the context of its administration functions, the Management Company has delegated its administration
functions to J.P. Morgan Bank Luxembourg S.A. (until 11 October 2021) and Citibank Europe plc, Luxembourg Branch
(since 11 October 2021), the Administrator.
In the context of its marketing function, the Management Company may enter into agreements with Distributors
pursuant to which the Distributors agree to act as intermediaries or nominees for investors subscribing for Shares
through their facilities.
The Management Company will monitor on a continual basis the activities of the delegates. The agreements
entered into between the Management Company and the relevant third parties provide that the Management
Company can give at any time further instructions to such third parties, and that it can withdraw their mandate
with immediate effect if this is in the interest of the Shareholders. The Management Company’s liability towards
the Company is not affected by the fact that it has delegated certain functions to third parties.
The Company pays to the Management Company the Aggregate Operating Fee and the Management Company
will be responsible for paying certain Company costs out of the Aggregate Operating Fee received by it. Refer to
Note 5 for further information. Full details are published in the Company’s prospectus which is available at
www.jupiteram.com.
7. Administration, Custodian and Depositary Fees

On 11 October 2021, Citibank Europe plc, Luxembourg Branch was appointed to perform central administration
duties for the Company pursuant to a delegation of such duties to it by the Management Company.
Prior to 11 October 2021, J.P. Morgan Bank Luxembourg S.A. was appointed to perform central administration
duties for the Company pursuant to a delegation of such duties to it by the Management Company.
J.P. Morgan Bank Luxembourg S.A. and then Citibank Europe plc, Luxembourg Branch as Administrator, Custodian and
Depositary was entitled to receive custodian fees, fund accounting fees, transfer agency fees and fiduciary fees.
The custodian fee consists of safekeeping, administration and transaction charges. Safekeeping and administration
charges are applied to the market value of the assets of the country of the underlying investments held in
custody at the end of the billing period. The transaction charges are based on the number of transactions in a
particular country. The safekeeping and administration fee rate varies according to the country of the underlying
investments and decreases depending on the thresholds in a particular country.
The fund accounting fee is the sum of the base NAV calculation fee plus the total of all other fees, including but
not limited to financial reporting, share class valuation, tax reporting and all other fees detailed in the fee
schedule agreement.
The transfer agency fee is based on the number of transactions processed, the number of holdings (shareholder
accounts), the number of new investor accounts opened and include fund/class set-up and annual maintenance
fees, enhanced fund distribution support, platform connectivity fee and out-of-pocket expenses.
The fiduciary fee per Fund is calculated as the greater of the minimum annual fee or an ad valorem fee based
upon the Fund’s month-end NAV.
These fees are included under the Aggregate Operating Fee. Refer to Note 5 for further details.
165

8. Auditor Fees and Terms of Engagement
PricewaterhouseCoopers, société coopérative has been appointed by the shareholders at their annual general
meeting as Auditor of the Company for the current accounting period and the shareholders have authorised the
Board to agree with the Auditor on its terms of appointment.
The fees of the Auditor are included under the Aggregate Operating Fee. Refer to Note 5 for further details.
9. Other Expenses
There are certain other fees that are payable in addition to the Aggregate Operating Fee and the Investment
Manager fees.
Each Share Class bears the costs relating to certain transactions such as the costs of buying and selling underlying
securities, costs charged by any financial institution or organisation in relation to swap agreements or over-the-
counter transactions, bank charges relating to delivery, receipt of securities or to foreign exchange transactions
and fees relating to collateral management, transaction costs, stock lending charges, interest on bank overdraft
and any other extraordinary fees and expenses.
Each Share Class also bears any extraordinary expenses incurred due to external factors, some of which may not
be reasonably foreseeable in the normal course of activity of the Company such as, without limitation, any
litigation expenses or any tax, levy, duty or similar charge of fiscal nature imposed on the Company or its assets
by virtue of a change of laws or regulations.
For so long as the Company and any of the Funds remain authorised by the Securities and Futures Commission
(‘SFC’) in Hong Kong, the Company has undertaken that no marketing or advertising expenses will be paid by the
Company. Any marketing and advertising expenses will instead be paid by the Investment Manager.
10. Directors’ Fees, Expenses and Interests

Mr. Jacques Elvinger is a partner of the Luxembourg law firm of Elvinger Hoss Prussen, société anonyme, which
provides legal services to the Company.
The Chairman receives fees of €35,500 and each Director receives fees of €30,000 (including taxes) per annum.
Mrs. Paula Moore and Mr Simon Rowson are employed by the Investment Manager JAML although the fees due
to them have been waived. In addition, all Directors are entitled to reimbursement by the Company of any
expenses directly incurred in the execution of their duties as Directors.
Save as referred to above, no Director holds any shares in the Company nor has any interest in any transaction
which, during the period under review, has been affected by the Company and is unusual in its nature or
conditions, or is significant to the business of the Company.
Directors’ remuneration, insurance coverage and reasonable expenses directly incurred in the execution of their
duties as Directors are included under the Aggregate Operating Fee. Refer to Note 5 for further details.
11. Taxe d’abonnement and Other Operational Taxes

The Company is liable in Luxembourg to a tax (taxe d’abonnement), such tax being payable quarterly and
calculated on the Net Asset Value of the Company at the end of the relevant calendar quarter. The taxe
d’abonnement is levied at a rate of 0.01% per annum on Funds or Classes reserved to Institutional Investors (Class
F, G, I and X) and at 0.05% per annum on other Funds or Share Classes (Class A, C, D, E, L, N, S, T and Z). No such
tax is payable in respect of the portion of the assets of each Fund invested in other Luxembourg collective
investment undertakings which are subject to this tax. Taxe d’abonnement is included under the Aggregate
Operating Fee, refer to Note 5 for further details.

11. Taxe d’abonnement and Other Operational Taxes (continued)
Under current law and practice, the Company is not liable to Luxembourg taxes on income or capital gains, nor
are dividends paid by the Company liable to any Luxembourg withholding tax.
Interest, dividends and capital gains on securities may be subject to withholding or capital gains taxes in certain
countries.
Where the withholding tax in certain jurisdictions has been raised at a rate higher than the rate applicable to
comparable domestic UCITS funds, the Company has launched a withholding tax reclaim with the national tax
authorities of those countries, with no guarantee of success. If and when those tax reclaims are successful, the
proceeds of tax reimbursement are recognised in the Statement of Operations and Changes in Net Assets as
‘Dividend income, net of withholding taxes’.
Withholding tax reclaims accrued by the Company during the period ended 31 March 2022 amounted to:

Jupiter Asia Pacific Income USD 6,833
Jupiter Dynamic Bond EUR 31,992
Jupiter European Growth EUR 4,502,009
Jupiter Europe ex-UK Equity EUR 6,653
Jupiter Financial Innovation EUR 88,840
Jupiter Global Convertibles EUR 70,356
Jupiter Global Ecology Diversified EUR 8,493
Jupiter Global Ecology Growth EUR 12,233
Jupiter Global Sovereign Opportunities USD 744
Jupiter Global Sustainable Equities (LUX) USD 770
Jupiter Global Value USD 563,745
Jupiter Pan European Smaller Companies EUR 62,299
12. Transactions with Connected Parties
All transactions with connected parties were carried out on an arm’s length basis. The Investment Manager and its
affiliates, the Directors, Management Company and other related agents of the Company are considered
connected parties.
13. Use of Dealing Commission

The Investment Manager pays for research services from its own resources and its clients take on no research
costs at all.
During the period ended 31 March 2022, no brokerage commission rebates were obtained by the Funds’ Managers
or any of their connected persons and no soft commission arrangements were in place.
167

14. Swing Pricing
The Funds adopted a partial swing pricing process. Under certain circumstances (for example, large volumes of
deals) investment and/or disinvestment costs may have an adverse effect on the Shareholders’ interests in a
Fund. In order to prevent this effect, the Investment Manager, as delegated by the Board of Directors, has the
discretion to allow for the Net Asset Value per Share to be adjusted by effective dealing and other costs and
fiscal charges which would be payable on the acquisition or disposal of assets in the relevant Fund if the net
capital activity exceeds, as a consequence of the sum of all subscriptions, redemptions or switches in such a Fund,
such threshold percentage (the ‘Threshold’) as may be determined from time to time by the Investment Manager,
as delegated by the Board of Directors, of the Fund’s total Net Assets on a given Valuation Day.
If the net capital activity on a given Valuation Day leads to a net inflow of assets above the threshold in the
relevant Fund, the Net Asset Value used to process all subscriptions, redemptions or switches in such a Fund is
adjusted upwards by a swing factor that shall be determined from time to time by the Investment Manager, as
delegated by the Board of Directors.
If the net capital activity on a given Valuation Day leads to a net outflow of assets above the threshold in the
relevant Fund, the Net Asset Value used to process all subscriptions, redemptions or switches in such a Fund is
adjusted downwards by a swing factor that shall be determined from time to time by the Investment Manager, as
delegated by the Board of Directors.
A factor is calculated for each fund based on the prices of the first business day of the month preceding the
relevant quarter and the average transaction costs over the previous 12 months.
The swing factor calculation is based on:

The bid-offer spread of the underlying portfolio of investments;
The transaction costs;
Any taxes
The price of each class in each Fund will be calculated separately but any dilution adjustment will affect the price
of shares of each class of the relevant Fund identically, up to a maximum of 2%.
The dilution adjustment is recorded as the ‘Net Realised Gains/(Losses) on Investments in securities’ in the
Statement of Operations and Change in Net Assets.
The following Funds applied swing pricing as at 31 March 2022 as follows:

Share Class Unswung NAV Swung NAV
Fund Currency per share per share
Class A EUR Acc EUR 10.71 10.71
Class A USD Acc USD 9.70 9.70
Class A USD Acc HSC USD 12.83 12.82
Class C USD Acc HSC USD 13.16 13.15
Class D EUR A Inc Dist EUR 21.01 20.99
Class D EUR Acc EUR 22.40 22.39
Class D GBP Acc GBP 23.91 23.89
Class D USD Acc HSC USD 25.01 24.99
Class E USD Acc USD 10.21 10.20
Class I EUR Acc EUR 61.35 61.31
Class L EUR A Inc Dist EUR 20.59 20.58
Class L EUR Acc EUR 45.51 45.47
Class L GBP A Inc GBP 40.35 40.33
Class L HKD Acc HSC HKD 150.46 150.35

14. Swing Pricing (continued)
Share Class Unswung NAV Swung NAV

Fund Currency per share per share
Jupiter European Growth (continued)
Class L SGD Acc HSC SGD 12.11 12.10
Class L USD Acc USD 10.25 10.24
Class L USD Acc HSC USD 25.24 25.22
Class N EUR Acc EUR 10.67 10.67
Class N USD Acc USD 9.66 9.65
Class N USD Acc HSC USD 12.69 12.68
The maximum factor applied to each fund (the same factor being applied to every share class within each fund)
where an application took place during the period was as follows:
Bid Offer
Fund % %
Jupiter Asia Pacific Income (0.32) 0.22
Jupiter Dynamic Bond (0.28) 0.28
Jupiter Dynamic Bond ESG (0.25) 0.25
Jupiter European Growth (0.07) 0.19
Jupiter Europe ex-UK Equity (0.06) 0.18
Jupiter Financial Innovation (0.18) 0.18
Jupiter Flexible Income (0.25) 0.27
Jupiter Flexible Macro (LUX) (0.10) 0.09
Jupiter Global Convertibles (0.32) 0.32
Jupiter Global Ecology Bond (0.21) 0.21
Jupiter Global Ecology Diversified (0.16) 0.18
Jupiter Global Ecology Growth (0.12) 0.09
Jupiter Global Emerging Markets Corporate Bond (0.19) 0.19
Jupiter Global Emerging Markets Short Duration Bond (0.16) 0.16
Jupiter Global Equity Growth Unconstrained (0.03) 0.03
Jupiter Global High Yield Bond (0.33) 0.33
Jupiter Global Sovereign Opportunities (0.17) 0.19
Jupiter Global Sustainable Equities (LUX) (0.06) 0.06
Jupiter Global Value (0.14) 0.17
Jupiter India Select (0.34) 0.33
Jupiter Japan Select (0.23) 0.20
Jupiter Pan European Smaller Companies (0.14) 0.25
15. Statement of Changes in the Portfolio

A listing of the statement of changes in the portfolio during the period is available upon request to any investor
at the registered office of the Company free of charge.
169

16. Transaction Costs
For the period ended 31 March 2022 the applicable Funds incurred transaction costs related to purchase or sale of
transferable securities as follows:

Jupiter Asia Pacific Income USD 2,691
Jupiter Dynamic Bond ESG EUR 150
Jupiter European Growth EUR 302,669
Jupiter Europe ex-UK Equity EUR 5,502
Jupiter Financial Innovation EUR 239,624
Jupiter Global Convertibles EUR 1
Jupiter Global Ecology Diversified EUR 9,429
Jupiter Global Ecology Growth EUR 5,907
Jupiter Global Emerging Markets Corporate Bond USD 1,681
Jupiter Global Emerging Markets Short Duration Bond USD 1,728
Jupiter Global Equity Growth Unconstrained USD 31,232
Jupiter Global Sovereign Opportunities USD 1,098
Jupiter Global Sustainable Equities (LUX) USD 1,436
Jupiter Global Value USD 124,271
Jupiter India Select USD 54,315
Jupiter Japan Select USD 15,839
Jupiter Pan European Smaller Companies EUR 133,595
The above transaction costs include brokers’ fees, depositary’s transaction specific fees, stamp duty fees, or
security transaction taxes, where applicable. These costs are directly linked to the acquisition or sale of
investments, to the extent that such costs are shown separately on transaction confirmations.
The transaction costs consisting of brokers’ fees, stamp duty fees, or security transaction taxes, where applicable
are included in the Statement of Net Assets as ‘ Investments in securities at cost’ and in the Statement of
Operations and Changes in Net Assets in ‘Net change in unrealised appreciation/(depreciation) on investments’
for the purchase of securities. For the sale of securities, they are netted from the ‘Due to brokers’ amount and
from the ‘Net realised gain/(loss) on sale of investments’ in the Statement of Operations and Changes in Net
Assets. Costs related to the acquisition and disposal of fixed income instruments are not separately identifiable
from the transaction price.

17. Cross-investments
The value of the cross-investments of the Funds has not been deducted for the calculation of the combined
total net assets of the Company.
As at 31 March 2022, the total cross-investments between Funds amounts to EUR 179,474,805.
The details of the cross-investments between Funds are disclosed in EUR in the following table:
Investment Fund Currency Market Value % of Net Assets

Jupiter Dynamic Bond EUR 176,406,735 2.04
The Jupiter Global Fund – Jupiter Dynamic Bond ESG –
63,043,750 0.73
Class I EUR Acc
79,464,107 0.92
Corporate Bond – Class I USD Acc
The Jupiter Global Fund – Jupiter Global Sovereign
33,898,878 0.39
Opportunities – Class I USD Acc
Jupiter Flexible Income EUR 1,997,198 2.68

The Jupiter Global Fund – Jupiter Asia Pacific Income –
583,249 0.78
Class D USD Q Inc Dist
1,413,949 1.90
Corporate Bond – Class I USD A Inc Dist
Jupiter Flexible Macro (LUX) EUR 1,070,872 7.63

393,533 2.81
Corporate Bond – Class I USD A Inc Dist
The Jupiter Global Fund – Jupiter Japan Select – Class I JPY Acc 677,339 4.82
18. Subsequent Events

There are no significant events after the reporting date.
171
Additional Information (not forming part of the Notes to the Financial

Statements)
PEA Compliance Note
Jupiter European Opportunities – French PEA restriction Jupiter European Opportunities has been eligible to be
held within a French ‘Plan d’Épargne en Actions’ (‘PEA’) since 6 July 2010. The Fund has undertaken, by virtue of the
application of article 91, paragraph L of Annex II of the French ‘Code général des impôts’, to ensure that at least
75% of the assets of the Fund are permanently invested in the eligible securities mentioned in paragraphs a, b and
c of section 1° of article L.221-31 of the French ‘Code monétaire et financier’. Jupiter is monitoring the PEA
eligibility requirements in light of Brexit developments. Investments purchased before Brexit will be considered
eligible for up to 12 months. Any purchases after Brexit will not be eligible.
At all times the Fund was invested in more than 75% of PEA eligible assets. As at the date of this report, the Fund
had 86.65% in PEA eligible assets.
UK Tax Reporting Fund Regime

All Funds are Reporting Funds for UK taxation purposes for the period ended 31 March 2022. Tax reporting
information for the year ended 30 September 2021 in respect of these Funds is available at www.jupiteram.com.
Securities Financing Transaction Regulation (SFTR)

Currently, none of the sub funds of The Jupiter Global Fund make use of the financial instruments to which this
regulation pertains. Further details are published in the Company’s prospectus which is available at
www.jupiteram.com.
173
The Jupiter Global Fund, 31 Z.A. Bourmicht, L-8070 Bertrange
5648 - 03.22
Grand Duchy of Luxembourg

www.jupiteram.com

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THE JUPITER

Semi-Annual Review and Unaudited Financial Statements

Investment Objectives (continued)

Management, Administration and Independent Auditor

Registered Office Distributor

J.P. Morgan Bank Luxembourg S.A. Swiss Representative

Board of Directors’ Report

Board of Directors’ Report (continued)

ESG investment principles have been important

Statement of Net Assets

Statement of Net Assets (continued)

Statement of Net Assets (continued)

Statement of Net Assets (continued)

Statement of Net Assets (continued)

Statement of Net Assets (continued)

Statement of Operations and Changes in Net Assets

For the six month period ended 31 March 2022

Statement of Operations and Changes in Net Assets (continued)

For the six month period ended 31 March 2022

Statement of Operations and Changes in Net Assets (continued)

For the six month period ended 31 March 2022

Statement of Operations and Changes in Net Assets (continued)

For the six month period ended 31 March 2022

Statement of Operations and Changes in Net Assets (continued)

For the six month period ended 31 March 2022

Statement of Operations and Changes in Net Assets (continued)

For the six month period ended 31 March 2022

For the six month period ended 31 March 2022

Jupiter Dynamic Bond

Statistical Information (continued)

For the six month period ended 31 March 2022

Jupiter Dynamic Bond ESG*^

Statistical Information (continued)

For the six month period ended 31 March 2022

Jupiter Europe ex-UK Equity*

Jupiter Financial Innovation

Statistical Information (continued)

For the six month period ended 31 March 2022

Jupiter Flexible Macro (LUX)*

Jupiter Global Convertibles

Statistical Information (continued)

For the six month period ended 31 March 2022

Jupiter Global Ecology Diversified*

Jupiter Global Ecology Growth

Jupiter Global Emerging Markets Corporate Bond*

Statistical Information (continued)

For the six month period ended 31 March 2022

Jupiter Global Equity Growth Unconstrained*

Statistical Information (continued)

For the six month period ended 31 March 2022

Jupiter Global Sovereign Opportunities*

Jupiter Global Sustainable Equities (LUX)*

Statistical Information (continued)

For the six month period ended 31 March 2022

Jupiter India Select

Jupiter Japan Select

Jupiter Pan European Smaller Companies*

Jupiter Asia Pacific Income

Schedule of Investments as at 31 March 2022