Altamir - 2018 Registration document

3

Financial statements

Consolidated financial statements

31 December 2018

31 December 2017

Investment portfolio Hong Kong dollars (HKD)

Sundry receivables Hong Kong dollars (HKD)

Investment portfolio Hong Kong dollars (HKD)

Sundry receivables Hong Kong dollars (HKD)

(in euros)

Assets

3,570,401

4,413,099

Liabilities Net position before management Off-balance-sheet position Net position after management

3,570,401

0

4,413,099

0

3,570,401

0

4,413,099

0

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

357,040

0

441,310

0

31 December 2018

31 December 2017

Investment portfolio Indian rupee (INR)

Sundry receivables Indian rupee (INR)

Investment portfolio Indian rupee (INR)

Sundry receivables Indian rupee (INR)

(in euros)

Assets

7,131,716

4,592,961

Liabilities Net position before management Off-balance-sheet position Net position after management

7,131,716

0

4,592,961

0

7,131,716

0

4,592,961

0

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

713,172

0

459,296

0

31 December 2018

31 December 2017

Investment portfolio Norwegian krone (NOK)

Sundry receivables Norwegian krone (NOK)

Investment portfolio Norwegian krone (NOK)

Sundry receivables Norwegian krone (NOK)

(in euros)

Assets

4,142,109

4,300,822

Liabilities Net position before management Off-balance-sheet position Net position after management

4,142,109

0

4,300,822

0

4,142,109

0

4,300,822

0

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

414,211

0

430,082

0

31 December 2018

31 December 2017

Investment portfolio Pounds sterling (GBP)

Sundry receivables Pounds sterling (GBP)

Investment portfolio Pounds sterling (GBP)

Sundry receivables Pounds sterling (GBP)

(in euros)

Assets

19,118,838

13,409,309

Liabilities Net position before management Off-balance-sheet position Net position after management

19,118,838

0

13,409,309

0

19,118,838

0

13,409,309

0

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

1,911,884

0

1,340,931

0

Altamir does not hedge against currency fluctuations, because the foreign exchange impact is notmaterial with respect to the expected gains on the securities in absolute value. It is also taken into account when decisions to invest or divest are made and is therefore factored into the calculation of expected return.

126 Registration document ALTAMIR 2018

www.altamir.fr