OBJECTIF
SMALL CAPS EURO
French open-end investment company
(Société d'Investissement à Capital Variable)
Half-year report
as at 31 March 2015
Lazard Group fund
Registered office: 121, Boulevard Haussmann, 75008 Paris, France
Paris Trade and Companies Register 449 972 835
OBJECTIF SMALL CAPS EURO
Half-year report
as at 31 March 2015
OBJECTIF SMALL CAPS EURO
SICAV
Half-year disclosure document
1º
Statement of assets and liabilities
Amount as at
31/03/2015
a)
Eligible financial securities and money-market instruments
referred to in Article R.214-11
652 744 385,59
b)
Bank balances
0,00
c)
Other assets held
UCITS
Coupons
Other
18 273 895,72
17 558 511,54
711 637,34
3 746,84
d)
Total assets
671 018 281,31
e)
Liabilities
Bank overdrafts
Other
-987 704,91
-938 052,85
-49 652,06
f)
Net asset value
670 030 576,40
2º
Number of shares outstanding
“A” shares 901 645,466
“R” shares 86 172,026
3º
Net asset value/unit
“A” NAV 627,41
“R” NAV 1 210,66
4º
Securities portfolio
Components of the securities portfolio
Percentage:
Net assets Total assets
Eligible financial securities and money-market instruments
admitted to trading on a French regulated market or a
regulated market of a Member State of the European Union
(EU) or the European Economic Area (EEA).
97,42
97,28
French equities
European equities
29,58
67,84
29,54
67,74
Eligible financial securities and money-market instruments
admitted to trading on another regulated market of the
European Union (EU) or the European Economic Area (EEA),
which is recognised, operates regularly and is open to the
public: these include regulated multilateral trading systems
(MTS).
0.00
0.00
Eligible financial securities and money-market instruments
For countries outside the EU and the EEA, official listing on a
stock exchange or another regulated market which operates
regularly.
0.00
0.00
Newly issued eligible financial securities
0.00
0.00
Other assets
2,62
2,62
OBJECTIF SMALL CAPS EURO
Half-year report
as at 31 March 2015
5º
Changes in the composition of
the portfolio over the period:
a)
Acquisitions (in euros):
Securities
Transferable debt securities
76 502 039,19
0.00
b)
Disposals (in euros):
Securities
Negotiable debt securities
102 386 152,62
0.00
6º
Dividends paid or payable
“A” shares Accumulation
“R” shares Accumulation
OBJECTIF
SMALL CAPS EURO
French open-end investment company
(Société d'Investissement à Capital Variable)
Composition of assets
as at 31 March 2015
ALE
Off-balance sheet items as at 31 March 2015 (in euros)
Year ended
31/03/2015
Year ended
31/12/2014
HEDGING TRANSACTIONS
COMMITMENTS ON REGULATED OR EQUIVALENT
MARKETS
OVER-THE-COUNTER COMMITMENTS
OTHER COMMITMENTS
OTHER TRANSACTIONS
COMMITMENTS ON REGULATED OR EQUIVALENT
MARKETS
OVER-THE-COUNTER COMMITMENTS
COMPOSITION OF OBJECTIF SMALL CAPS EURO'S ASSETS
AS AT TUESDAY 31 MARCH 2015
DESCRIPTION ISIN Price Coupon Curr. Exch.
rate Qty. Value (€) %
TOTAL 670 302 897,13 100,04
EQUITIES 652 744 385,59 97,42
EUROPE 454 541 215,09 67,84 ALTRI SGPS SA PTALT0AE0002 3,9690 EUR 5 991 393,00 23 779 838,81 3,55 AMADEUS FIRE AG. DE0005093108 73,7000 EUR 172 650,00 12 724 305,00 1,90 ATRESMEDIA CORP. DE MEDIOS SA ES0109427734 14,0700 EUR 760 000,00 10 693 200,00 1,60 BETER BED HOLDING NV NL0000339703 20,4150 EUR 921 000,00 18 802 215,00 2,81 BIJOU BRIGITTE MODISCHE ACC.AG DE0005229504 56,8340 EUR 186 720,00 10 612 044,48 1,58 BOLZONI SPA IT0004027279 3,6600 EUR 1 130 000,00 4 135 800,00 0,62 CARGOTEC OYJ -B- FI0009013429 32,2000 EUR 760 000,00 24 472 000,00 3,65 DARTY PLC GB0033040113 0,6550 GBP 0,7273 13 005 000,00 11 712 188,92 1,75 DE LONGHI SPA IT0003115950 20,1900 EUR 1 202 000,00 24 268 380,00 3,62 DECEUNINCK NV BE0003789063 1,9500 EUR 6 420 000,00 12 519 000,00 1,87 DECEUNINCK NV (STRIP VVPR) BE0005632063 0,0000 EUR 938 708,00 0,00 0,00 DRAEGERWERK AG & CO KGAA (N) DE0005550602 82,8800 EUR 298 700,00 24 756 256,00 3,69 ELECTRONIKI ATHINON SA (REGR.) GRS352003008 0,4800 EUR 261 666,00 125 599,68 0,02 GFK SE DE0005875306 34,3450 EUR 426 000,00 14 630 970,00 2,18 GRENKELEASING AG DE0005865901 107,5000 EUR 84 477,00 9 081 277,50 1,36 INTERPUMP GROUP SPA IT0001078911 15,1300 EUR 2 200 000,00 33 286 000,00 4,97 KSB AG (PFD.) DE0006292030 440,2500 EUR 27 222,00 11 984 485,50 1,79 LPKF LASER & ELECTRONICS AG DE0006450000 10,4250 EUR 740 000,00 7 714 500,00 1,15 LUCAS BOLS NV NL0010998878 17,8700 EUR 571 430,00 10 211 454,10 1,52 ORDINA N.V. NL0000440584 1,7770 EUR 5 033 800,00 8 945 062,60 1,34 PRIMA INDUSTRIE S.P.A. IT0003124663 19,0000 EUR 535 195,00 10 168 705,00 1,52 RAPALA VMC OYJ FI0009007355 5,1100 EUR 1 160 000,00 5 927 600,00 0,88 ROSENBAUER INTERNATIONAL AG AT0000922554 79,4500 EUR 341 850,00 27 159 982,50 4,05 STO SE AND CO.KGAA (PREF.) DE0007274136 156,0000 EUR 108 000,00 16 848 000,00 2,51 SURTECO SE DE0005176903 27,5000 EUR 500 200,00 13 755 500,00 2,05 TECHNOTRANS AG (N) DE000A0XYGA7 12,7000 EUR 434 500,00 5 518 150,00 0,82 USG PEOPLE N.V. NL0000354488 12,8900 EUR 1 740 000,00 22 428 600,00 3,35 VAN DE VELDE NV BE0003839561 51,6000 EUR 370 700,00 19 128 120,00 2,85 VOSSLOH AG. DE0007667107 57,0800 EUR 401 000,00 22 889 080,00 3,42 WASHTEC A.G. DE0007507501 18,7900 EUR 565 000,00 10 616 350,00 1,58 ZUMTOBEL GROUP AG. AT0000837307 23,1050 EUR 1 110 000,00 25 646 550,00 3,83 FRANCE 198 203 170,50 29,58 ALTEN FR0000071946 42,7150 EUR 530 000,00 22 638 950,00 3,38 BENETEAU FR0000035164 13,1450 EUR 1 417 300,00 18 630 408,50 2,78 EXEL INDUSTRIES -A- FR0004527638 46,8000 EUR 175 300,00 8 204 040,00 1,22 GROUPE CRIT FR0000036675 48,8200 EUR 428 550,00 20 921 811,00 3,12 HAVAS FR0000121881 7,0600 EUR 1 625 000,00 11 472 500,00 1,71 IPSOS SA FR0000073298 26,0100 EUR 993 700,00 25 846 137,00 3,86 MANITOU FR0000038606 15,4800 EUR 992 320,00 15 361 113,60 2,29 MANUTAN INTERNATIONAL FR0000032302 45,4400 EUR 282 000,00 12 814 080,00 1,91 NORBERT DENTRESSANGLE (GROUPE) FR0000052870 157,6000 EUR 169 759,00 26 754 018,40 3,99 SARTORIUS STEDIM BIOTECH FR0000053266 197,7500 EUR 40 000,00 7 910 000,00 1,18 SOMFY SA FR0000120495 226,0500 EUR 49 000,00 11 076 450,00 1,65 SOPRA STERIA GROUP FR0000050809 69,2300 EUR 239 400,00 16 573 662,00 2,47
UCIs 17 558 511,54 2,62
General UCITS aimed at non-professionals and their equivalent in other countries 17 558 511,54 2,62
FCP INVESTISSEMENT PEA-PME-A2D (*) FR0011637156 114,4600 EUR 15 000,00 1 716 900,00 0,26 FCP INVESTISSEMENT PEA-PME-R2D (*) FR0011637164 113,8400 EUR 1,00 113,84 0,00 FCP OBJ.COURT TERME EURO -C-3D (*) FR0011291657 2 013,8400 EUR 5 200,00 10 471 968,00 1,56 FCP OBJ.INVESTIS.MICROCAPS(2D) (*) FR0011042811 137,1900 EUR 15 000,00 2 057 850,00 0,31 FCP OBJECTIF MID CAP.EUR-A(2D) (*) FR0011429521 133,5300 EUR 24 800,00 3 311 544,00 0,49 FCP OBJECTIF MID CAP.EUR-R(2D) (*) FR0011429539 135,7000 EUR 1,00 135,70 0,00
Securities sold under repurchase agreements 0.00 0.00
Receivables on securities purchased under repurchase
agreements 0.00 0.00
Liabilities on securities sold under repurchase agreements 0.00 0.00
Forward financial instruments 0.00 0.00
Swaps 0.00 0.00 Receivables 715 384,18 0,11 Other 715 384,18 0,11 Liabilities -49 652,06 -0,01 Other -49 652,06 -0,01 Financial accounts -938 052,85 -0,14
Cash and cash equivalents -938 052,85 -0,14
TOTAL NET ASSETS 868 535 968,56 100,00
(*) Financial instruments issued or managed by a Lazard Group entity Number of A shares as at 31/03/2015 901 645,466 Estimate based on stock prices available on 31/03/2015 Net asset value as at 31/03/2015 627,41
Net assets as at 31/03/2015 565 705 202,85
Number of R shares as at 31/03/2015 86 172,026 Net asset value as at 31/03/2015 1 210,66 Net assets as at 31/03/2015 104 325 373,55
