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II 1: INTRODUCCIÓN

II.1.1. Fases de la micropropagación

31,320,535 HUF 112,863.11 0.01% PERU 8.75 03-33 21/11S 198,245 USD 179,280.63 0.02%

Peru

677,030.67

0.08%

PERU BONO SOBERANO 6.90 07-37 12/08S

1,008,924 PEN 272,080.88 0.03% PERU (REP OF) 7.35 05-25 21/07S

170,935 USD 136,414.41 0.02% REPUBLIC OF PERU 7.125 09-19 30/03S 111,355 USD 89,254.75 0.01% MALAISIE S 0307 3.502 07-27 31/05S 350,930 MYR 60,148.00 0.01%

Malaysia

667,950.92

0.08%

MALAISIE S 07/0002 3.814 07-17 15/02S 570,261 MYR 112,831.03 0.01% MALAYSIAN GOV'T 4.24 03-18 07/02S 2,166,995 MYR 440,063.41 0.05% PETROLIAM NASIO.REG S 7.625 96-26 15/10S 65,025 USD 54,908.48 0.01%

RUSSIA REG-S STEP UP 7.50 00-30 31/03S

758,889 USD 596,373.84 0.07%

Russia

596,373.84

0.07%

URUGUAY 6.875 09-25 28/09S 56,897 USD 41,639.20 0.00%

Uruguay

594,796.52

0.07%

URUGUAY 8.00 05-22 18/11S 113,794 USD 90,614.84 0.01% URUGUAY 9.25 05-17 17/05S 74,372 USD 64,147.31 0.01% URUGUAY INDEXEE 5.00 06-18 14/09S 6,603,349 UYU 291,124.58 0.04% URUGUAY (REP.ORIEN.OF)7.625 06-36 21/03S 142,506 USD 107,270.59 0.01% COLOMBIA 7.375 06-37 18/09S 2,926 USD 2,222.93 0.00%

Colombia

589,804.77

0.07%

COLOMBIA 7.375 09-19 18/03S 124,360 USD 97,728.45 0.01% COLOMBIA 8.125 04-24 21/05S 71,121 USD 58,492.97 0.01% COLOMBIA 12.00 05-15 22/10A 350,930,373 COP 150,012.46 0.02% ECOPETROL 7.625 09-19 23/07S 146,306 USD 112,425.42 0.01% REP OF COLOMBIA-GLB- 11.75 04-10 01/03A

149,145,408 COP 56,536.65 0.01% REPUBLIC OF COLOMBIE 9.85 07-27 28/06A

271,971,039 COP 112,385.89 0.01% ELECTRICIDAD CARACAS 8.50 08-18 10/04S 203,203 USD 86,394.02 0.01%

Venezuela

553,327.04

0.06%

PETROLEOS VENEZUELA 5.50 07-37 12/04S 260,100 USD 79,312.60 0.01% VENEZUELA 6.00 05-20 09/12S 65,025 USD 24,926.83 0.00% VENEZUELA 9.25 97-27 15/09S 138,178 USD 70,786.44 0.01% VENEZUELA 9.375 04-34 13/01S 254,736 USD 120,288.31 0.01% VENEZUELA 13.625 01-18 15/08S 263,197 USD 167,851.72 0.02% VENEZUELA OIL OBLIG.CERT. 91-20 15/04S

203 USD 3,767.12 0.00% COMMERCIAL BK QATAR 7.50 09-19 18/11S 113,794 USD 77,528.24 0.01%

Bermuda

496,055.47

0.06%

GLB CROSSING -144A- 12.00 09-15 15/09S 152,973 USD 117,548.51 0.01% INTELSAT 8.50 09-13 15/01S 295,747 USD 210,425.72 0.03% TYCO INTL 7.00 08-19 15/06S 113,800 USD 90,553.00 0.01% INDONESIA REGS 11.625 09-19 04/03S 36,576 USD 36,901.03 0.00%

Indonesia

490,088.01

0.06%

INDONESIE 6.625 07-37 17/02S 214,989 USD 146,847.35 0.02% INDONESIE REG S 6.875 08-18 17/01S 97,537 USD 74,780.06 0.01% INDONESIE REG S 10.375 09-14 04/05S 56,897 USD 49,173.92 0.01% PERUSAHAAN 8.80 09-14 23/04S 178,819 USD 144,575.74 0.02% PT ADARO INDONESIA 7.625 09-19 22/10S 54,865 USD 37,809.91 0.00%

ARGENTINA REPU DIS 5.83 05-33 31/12S

754,500 ARS 154,981.37 0.02%

Argentina

484,590.50

0.06%

ARGENTINA REPU $DIS 8.28 05-33 31/12S

401,328 USD 209,090.56 0.03% BUENOS AIRES REGS 9.375 06-18 14/09S

42,347 USD 20,070.37 0.00% IMPSA REGS 11.25 07-14 22/10S

189,629 USD 100,448.20 0.01%

DASA FINANCE REG S 8.75 08-18 29/05S

142,567 USD 102,348.15 0.02%

Cayman Islands

471,366.35

0.06%

EEB INTL REG-S 8.75 07-14 31/10S

44,704 USD 33,650.69 0.00% FIBRIA OVERSEAS 9.25 09-19 30/10S

107,698 USD 84,071.62 0.01% HUTCHISON WHAMPOA 4.125 05-15 28/06A

56,270 EUR 55,784.28 0.01% HUTCHISON WHAMPOA 4.75 09-16 14/11A

71,616 EUR 71,731.15 0.01% KUWAIT PROJECTS CO 8.875 09-16 17/10S

14,630 USD 10,298.87 0.00% TGI INTERNAT. REG S 9.5 07-17 03/10S

29,423 USD 22,148.00 0.00% VALE OVERSEAS GTD 6.25 06-17 23/01S

125,181 USD 91,333.59 0.01%

DNB NOR BANK ASA 5.875 08-13 20/06A

268,459 EUR 295,084.76 0.03%

Norway

468,137.99

0.05%

Quantity

Denomination

Quotationcurrency

Market value

% of netassets

STATOILHYDRO ASA 2.90 09-14 15/10S

51,210 USD 35,626.63 0.00% STATOILHYDRO EMTN 4.375 09-15 11/03A

130,060 EUR 137,426.60 0.02%

ERSTE GROUP BANK AG 4.375 07-12 25/04A

107,424 EUR 110,840.08 0.01%

Austria

412,262.67

0.05%

RAIFF ZENTRALBK REG S 5.875 08-11 20/06A

127,886 EUR 133,665.17 0.02% SAPPI PAPIER EMTN 11.75 09-14 01/08S

71,276 EUR 78,358.91 0.01% TELEKOM FINANZ 6.375 09-16 29/01A

80,721 EUR 89,398.51 0.01%

NATIONAL POWER REG S 6.875 06-16 02/11S

134,927 USD 99,214.49 0.01%

Philippines

382,213.34

0.04%

PHILIPPINES REPUBLIC 7.50 06-24 25/09S

29,269 USD 23,052.07 0.00% POWER SECTOR REG-S 7.25 09-19 27/05S

300,741 USD 224,809.00 0.03% PWR SECTOR REG S 7.39 09-24 02/12S 48,768 USD 35,137.78 0.00% AFRICAN EXPORT-IMPORT 8.75 09-14 13/11S 292,613 USD 213,889.44 0.03%

Egypt

213,889.44

0.03%

HANA BANK REGS 6.50 09-12 09/04S

73,153 USD 54,938.04 0.01%

South Korea

204,490.87

0.02%

KOOKMIN BANK EMTN 5.875 09-12 11/06S

97,537 USD 70,701.15 0.00% KOOKMIN BANK REG S 7.25 09-14 14/05S

56,897 USD 44,216.87 0.01% KOREA EXPRESSWAY CORP 4.50 09-15 23/03S

48,768 USD 34,634.81 0.00% PANAMA (REP.OF) 5.20 09-20 30/01S 154,434 USD 107,907.36 0.01%

Panama

191,680.79

0.02%

PANAMA (REP.OF) 7.25 04-15 15/03S 105,665 USD 83,773.43 0.01%

BCO ESPIRITO SANTO 5.625 09-14 05/06A

76,731 EUR 81,925.68 0.01%

Portugal

171,247.89

0.02%

BCP SA 5.625 09-14 23/04A 83,126 EUR 89,322.21 0.01% TURKEY 7.50 09-19 07/11S 79,655 USD 63,152.16 0.01%

Turkey

131,700.62

0.02%

TURQUIE (REPU OF ) 7.00 05-20 05/06S 89,409 USD 68,548.46 0.01% FLEXTRONICS SUB. 6.50 03-13 15/05S 158,990 USD 110,944.49 0.01%

Singapore

110,944.49

0.01%

ALFA MTN INVEST 9.25 08-13 24/06S 130,050 USD 91,889.31 0.01%

Cyprus

91,889.31

0.01%

TENGIZCHEVROIL REGS 6.124 04-14 15/11S 130,678 USD 91,080.67 0.01%

Kazakstan

91,080.67

0.01%

PETR TRIN&TOBAC.REG S 9.75 09-19 14/08S 113,794 USD 88,731.17 0.01%

Trinidad & Tobago

88,731.17

0.01%

NOKIA CORPORATION 5.50 09-14 04/02A

62,127 EUR 67,348.16 0.01%

Finland

82,845.44

0.01%

STORA ENSO 144A 6.404 06-16 15/04S

24,767 USD 15,497.28 0.00%

POLAND 6.375 09-19 15/07S

105,665 USD 79,870.16 0.01%

Poland

79,870.16

0.01%

CODELCO INC CL.-REGS- 5.625 05-35 21/09S

105,665 USD 69,877.22 0.01%

Chile

69,877.22

0.01%

WPP GROUP EMTN 6.625 08-16 12/05A

57,906 EUR 62,656.62 0.01%

Jersey Island

62,656.62

0.01%

LIBAN EMTN 8.25 06-21 12/04S

73,153 USD 55,957.78 0.01%

Lebanon

55,957.78

0.01%

EL SALVADOR REP REGS 7.375 09-19 01/12S

73,153 USD 52,388.71 0.01%

El Salvador

52,388.71

0.01%

GABONESE REPUBLIC 8.20 07-17 12/12S 56,897 USD 41,589.64 0.00%

Gabon

41,589.64

0.00%

QATAR STATE OF 6.40 09-40 20/01S 47,874 USD 33,450.90 0.00%

Qatar

33,450.90

0.00%

GEORGIA 7.50 08-13 15/04S 40,640 USD 28,608.74 0.00%

Democratic Republic of

Congo

28,608.74

0.00%

SRI LANKA REGSS 7.40 09-15 22/01S

32,512 USD 23,566.82 0.00%

Sri Lanka

23,566.82

0.00%

Securities portfolio at 31/12/09

FORTIS L FUND Bond Europe Plus

Expressed in EUR

BANK OF AMERICA-SUB- FL.R 06-18 28/03A

212,291 EUR 188,159.89 0.02%

Floating rate bonds

28,764,259.94

3.37%

United States of America

10,498,102.97

1.22%

CITIGROUP EMTN VAR FL.R 05-17 30/11A

84,174 EUR 72,413.21 0.01% CITIGROUP INC FL.R 04-19 10/02Q

85,070 EUR 73,822.90 0.01% CITIGROUP SUB C EMTN FL.R 05-30 25/02A

38,365 EUR 27,595.94 0.00% DEUTSCHE CAP TR.EMTN FL.R 03-XX 19/09A

43,481 EUR 31,453.29 0.00% GENERAL ELECTRIC SUB FL.R 07-67 15/09A

127,886 EUR 98,472.22 0.01% HANESBRANDS NOTES S B FL.R 06-14 15/12S

67,698 USD 44,648.36 0.01% HSBC FINANCE CORP FL.R 06-13 05/04Q

4,700,000 EUR 4,486,793.89 0.52% JP MORGAN CHASE FL.R 06-18 31/03A

214,849 EUR 213,525.54 0.03% NORANDA ALU (PIK)-144A-FL.R 07-15 15/05S

294,259 USD 159,204.43 0.02% SAN PAOLO IMI PERP.REG FL.R 00-XX 29/12A

58,213 EUR 57,703.64 0.01% SESI LLC CV FL-R 06-26 15/12S

206,513 USD 131,881.89 0.02% SG CAPITAL TRUST SUB FL.R 03-49 10/11A

135,559 EUR 108,447.20 0.01% UNICREDITO ITAL PERP. FL.R 00-XX 29/10A

138,373 EUR 136,938.49 0.02% WACHOVIA CAP TRT III FL.R 06-XX 15/03S

386,923 USD 206,304.99 0.02% WACHOVIA CORP FL.R 07-14 23/02Q

4,700,000 EUR 4,460,737.09 0.51%

FORTIS BANK SA/NV FL.R 05-18 14/02Q

5,200,000 EUR 4,723,851.60 0.54%

Belgium

4,794,444.11

0.55%

FORTIS BANK SUB FL.R 01-XX 26/09A

76,731 EUR 70,592.51 0.01% AVIVA PLC FL.R 04-XX 29/11A 29,925 EUR 23,245.75 0.00%

United Kingdom

4,312,852.36

0.51%

AVIVA PLC FL.R 08-38 22/05A 84,149 EUR 81,624.53 0.01% BARCLAYS BANK SUB FL.R 00-XX 29/04A

115,097 EUR 111,294.42 0.01% BARCLAYS BANK SUB FL.R 04-XX 15/12A

76,731 EUR 48,497.05 0.01% IMPERIAL TOBACCO FIN FL.R 09-16 17/02A

226,614 EUR 274,189.37 0.04% LEGAL AND GENERAL SUB FL.R 05-25 08/06A

51,154 EUR 42,319.70 0.00% LLYODS TSB SUB FL.R 08-18 05/03A

52,433 EUR 49,629.41 0.01% REXAM PLC FL.R 07-67 29/06A

145,717 EUR 120,577.90 0.01% SL FINANCE SUB FL.R 02-22 12/07A

37,087 EUR 35,527.12 0.00% STANDARD CHART. EMTN FL.R 06-18 28/03Q

3,900,000 EUR 3,525,947.11 0.42%

CORP ANDINA DE FOM. FL.R 06-11 16/11Q

4,100,000 EUR 3,951,375.00 0.46%

Venezuela

3,951,375.00

0.46%

ALLIANZ EMTN FL.R 04-XX 29/01A

53,712 EUR 49,549.33 0.01%

Germany

1,182,918.75

0.14%

BAYER LBK EMTN SUB FL.R 96-07 19/06S

248,099 EUR 246,114.21 0.03% BAYER SUB FL.R 05-XX 29/07A

56,270 EUR 51,824.67 0.01% COMMERZBANK EMTN FL.R 07-17 29/11A

95,914 EUR 93,087.42 0.01% DEUTSCHE BANK EMTN FL.R 05-17 09/03A

120,213 EUR 118,957.98 0.01% DRESDNER BANK AG FL.R 07-11 12/12S

280,486 USD 142,819.35 0.02% MUNICH RE FINANCE FL.R 03-23 21/06A

127,886 EUR 135,153.74 0.02% MUNICH RE SUB FL.R 07-XX 29/06A

65,222 EUR 58,373.69 0.01% TUI AG REG-S FL.R 05-10 10/12Q

301,947 EUR 287,038.36 0.02%

ALLIANZ IARD SA FL.R 05-XX 10/06A

10,230 EUR 8,184.00 0.00%

France

933,970.35

0.11%

AXA EMTN PERP. SUB FL.R 06-XX 06/07A

122,770 EUR 103,495.11 0.01% BNP PARIBAS SUB FL.R 06-XX 12/04A

23,019 EUR 18,250.62 0.00% BPCE FL.R 09-XX 30/09S

56,858 EUR 65,955.28 0.01% CREDIT AGRICOLE FL.R 09-XX 26/10A

12,788 EUR 13,626.76 0.00% FRANCE TELECOM FL.R 01-31 01/03S

318,642 USD 296,033.96 0.03% LA MONDIAL PERPETUAL FL.R 06-49 15/11A

98,472 EUR 60,067.92 0.01% LAFARGE EMTN FL.R 09-16 24/11A

51,742 EUR 59,157.66 0.01% RHODIA SA REG-S FL.R 06-13 15/10Q

111,702 EUR 104,157.53 0.01% SANOFI AVENTIS EMTN 4.50 09-16 18/05A

127,170 EUR 134,276.26 0.02% SOCIETE GENE SA SUB FL.R 09-XX 04/09A

51,154 EUR 58,104.80 0.01% SOCIETE GENERALE FL.R 05-49 29/01A

7,673 EUR 5,447.84 0.00% SOLVAY FINANCE FL.R 06-04 02/06A

7,673 EUR 7,212.61 0.00%

ALLIANZ FINANCE SUB FL.R 02-22 31/05A

33,506 EUR 34,678.70 0.00%

The Netherlands

563,311.81

0.07%

BOATS INV.NETHLD.(PIK)FL.R 07-15 18/12Q 150,367 EUR 62,402.31 0.01% ELM BV FL.R 06-XX 25/11S 101,030 EUR 83,349.74 0.01% GENERALI FINANCE BV FL.R 07-XX 08/02A

149,627 EUR 133,542.10 0.02%

Quantity

Denomination

Quotationcurrency

Market value

% of netassets

SIEMENS FIN NV FL.R 06-66 14/09A

40,923 EUR 39,656.43 0.00% SUEDZUCKER INT FINANCE FL.R 05-XX

30/06A

248,145 EUR 209,682.53 0.03%

DANSKE BANK EMTN FL.R 05-18 16/03A

33,352 EUR 30,535.09 0.00%

Denmark

495,164.01

0.06%

DANSKE BANK EMTN-SUB FL.R 07-XX 15/05A

53,661 EUR 41,318.97 0.00% DEN NORSKE BANK EMTN FL.R 03-13 20/06A

41,946 EUR 38,732.09 0.00% NORDIC TEL CO HLDG FL.R 06-16 01/05Q

385,139 EUR 384,577.86 0.06%

ASSICURAZ GENERAL SUB FL.R 00-22 20/07A

88,267 EUR 93,504.76 0.01%

Italy

424,206.06

0.05%

LOTTOMATICA EMTN FL.R 06-66 31/03A

241,788 EUR 230,000.84 0.03% UNICREDITO ITAL.EMTN FL.R 04-19 22/09A

99,930 EUR 100,700.46 0.01%

CREDIT SUISSE GR FIN. FL.R 06-18 23/01A

170,344 EUR 169,277.66 0.02%

Jersey Island

403,285.54

0.05%

HSBC CAP FDG FL.R 03-XX 31/12A

63,943 EUR 53,712.12 0.01% HSBC CAP FDG REG-S FL.R 00-XX 31/12A

58,878 EUR 58,878.00 0.01% UBS CAP SECS FL.R 08-XX 11/04A

125,328 EUR 121,417.76 0.01% ARGENTINA $ 15 FL.R 09-15 10/09Q 1,052,791 ARS 164,743.89 0.02%

Argentina

349,789.50

0.04%

ARGENTINA REPU OF FL.R 09-14 30/01Q 1,154,405 ARS 185,045.61 0.02%

BBVA INTL PREF. -E- FL.R 09-XX 21/10A

40,923 EUR 43,053.04 0.01%

Spain

251,850.86

0.03%

BCO BILBAO VIZCAYA FL.R 04-19 20/10A

140,675 EUR 143,965.38 0.01% SANT.ISSUANCE EMTN FL.R 07-19 29/05A

63,943 EUR 64,832.44 0.01% BOMBARDIER INC FL.R 06-13 15/11Q 225,111 EUR 216,153.38 0.03%

Canada

216,153.38

0.03%

SVENSKA HANDELSBK-SUB-FL.R 06-16 20/04A 141,953 EUR 141,062.96 0.02%

Sweden

153,307.46

0.02%

VATTENFALL TREASURY FL.R 05-XX 29/06A

12,788 EUR 12,244.50 0.00%

BANCO BRAZIL REGS SUB 8.50 09-XX 31/12S

146,306 USD 108,219.02 0.02%

Cayman Islands

149,520.84

0.02%

BBVA BANCOMER SA-REGS- FL.R 07-17 17/05A

23,786 EUR 21,452.60 0.00% BES FINANCE EMTN FL.R 03-XX 02/07A

23,019 EUR 19,849.22 0.00%

M-REAL CORP FL.R 06-10 15/12Q

63,818 EUR 62,876.69 0.01%

Finland

62,876.69

0.01%

MITSUBISHI UFJ SUB. FL.R 05-15 16/12A

20,461 EUR 20,532.01 0.00%

Japan

20,532.01

0.00%

TIM HELLAS TEL (PIK) FL.R 06-15 15/07Q

119,647 EUR 598.24 0.00%

Greece

598.24

0.00%

AIREM 2006-1X -1C2- FL.R 06-66 20/09Q

127,886 EUR 27,808.68 0.00%

Mortgage and asset backed

securities

291,911.21

0.03%

United Kingdom

172,362.37

0.01%

AIREM 2006-1X -2C2- FL.R 06-66 20/09Q 255,772 EUR 63,943.01 0.00% LEEK FIN.-15X- -CC- FL.R 06-37 21/03Q 79,289 EUR 11,910.14 0.00% PARAGON -13X- -C1B- FL.R 06-39 15/01Q 79,877 EUR 25,360.95 0.00% PARGN 7X B1B FL.R 04-43 15/05Q 109,809 EUR 43,339.59 0.01% SPARF 2007-1 C FL.R 07-13 15/07Q 89,520 EUR 74,727.71 0.01%

France

74,727.71

0.01%

CRSM 11 -CA- FL.R 06-48 14/12Q 176,483 EUR 44,821.13 0.01%

Ireland

44,821.13

0.01%

GMAC CUM PERP PFD SHS -G- 144A

95 USD 43,643.06 0.01%

Other transferable securities

1,877,552.86

0.22%

Shares

43,643.06

0.01%

United States of America

43,643.06

0.01%

AMD 144A 8.125 09-17 15/12S

232,009 USD 161,100.52 0.02%

Bonds

1,764,571.74

0.20%

United States of America

1,503,083.36

0.17%

ARCH COAL INC 144A 8.75 09-16 01/08S

132,576 USD 97,716.75 0.01% BELDEN INC SUB 144A 9.25 09-19 15/06S

160,621 USD 118,247.73 0.01%

The accompanying notes form an integral part of these financial statements

Securities portfolio at 31/12/09

FORTIS L FUND Bond Europe Plus

Expressed in EUR

BUMBLE BEE FOODS 144A 7.75 09-12 15/12S

20,396 USD 14,251.25 0.00% CALPINE -144A- 7.25 09-17 15/10S

91,783 USD 61,412.58 0.01% CC HOLDING 7.75 09-17 01/05Q

135,126 USD 100,302.63 0.01% GXS WORLD INC 144A 9.75 09-15 15/06S

66,288 USD 45,393.25 0.01% HCA 144A 7.875 09-20 15/02S

152,973 USD 111,018.04 0.01% KOPPERS INC 144A 7.875 09-19 01/12S

136,655 USD 96,199.02 0.01% MCJUNKIN RED MAN 144A 9.50 09-16 15/12S

112,180 USD 76,428.61 0.01% NII CAPITAL 144A 8.875 09-19 15/12S

224,360 USD 152,270.82 0.02% SOUTHERN STAR CENTRAL 6.75 08-16 01/03S

239,657 USD 161,191.15 0.01% TEACHERS INS ANN 6.85 09-39 16/12S

121,539 USD 87,599.56 0.01% TRIUMPH GROUP 144A 8.00 09-17 15/11S

45,891 USD 32,265.24 0.00% UNISYS CORP -144A- 14.25 09-15 15/09S

173,369 USD 140,773.58 0.02% VERSO PAPER HLDG 144A 11.50 09-14 01/07S

61,189 USD 46,912.63 0.01%

WIND ACQUI.FIN REG-S 12.25 09-17 15/07S

94,943 EUR 90,670.55 0.00%

Luxembourg

90,670.55

0.00%

INTELSAT 144A 8.50 09-19 01/11S

86,684 USD 62,230.02 0.01%

Bermuda

62,230.02

0.01%

OPTI CANADA 144A 9.00 09-12 15/12S

79,036 USD 56,326.41 0.01%

Canada

56,326.41

0.01%

TURANALEM FINANCE 11.50 08-13 10/04Q 243,844 USD 52,261.40 0.01%

The Netherlands

52,261.40

0.01%

CITIGROUP FDG FL.R 07-10 02/04S 175,465 USD 69,338.06 0.01%

Floating rate bonds

69,338.06

0.01%

United States of America

69,338.06

0.01%

EGYPT TREASURY BILL -91- -10 23/02U

877,325 EGP 107,735.92 0.01%

Money market instruments

107,735.92

0.01%

Bonds

107,735.92

0.01%

Egypt

107,735.92

0.01%

EUR(C)/USD(P)OTC AUG 1.70 06.08.10 CALL

3,965,513 USD 8,142.46 0.00%

Derivative instruments

363,092.91

0.04%

Options, Warrants, Rights

363,092.91

0.04%

Luxembourg

363,092.91

0.04%

EUR(P)/USD(C)OTC AUG 1.30 06.08.10 PUT

4,958,172 USD 51,266.41 0.01% EUR(P)/USD(C)OTC AUG 1.30 06.08.10 PUT

(4,958,172) USD (51,266.41) (0.01%) EUR(P)/USD(C)OTC FEB 1.40 08.02.10 PUT

3,965,513 USD 19,488.29 0.00% SWAPTION BNP USD MAR 4.88 31.03.10 PUT

31,000,000 USD 71,301.62 0.01% SWAPTION BNP USD MAR 5.38 31.03.10 PUT

(62,000,000) USD (38,891.79) 0.00% SWAPTION CITI OCT 3.75 04.10.10 CALL

11,907,127 EUR 364,358.09 0.04% SWAPTION CITI OCT 3.75 04.10.10 CALL

11,907,127 EUR 223,853.98 0.03% SWAPTION CITI OCT 4.40 04.10.10 CALL

(29,767,818) EUR (312,562.09) (0.04%) SWAPTION PY NOV 2.75 01.11.10 CALL

161,045,717 GBP 743,190.32 0.09% SWAPTION REC NOV 2.05 01.11.10 PUT

(322,091,434) GBP (1,073,094.32) (0.13%) SWAPTION REC NOV 2.75 01.11.10 CALL

161,045,717 GBP 1,141,975.39 0.13% SWAPTION REC 1Y10Y OCT 3 04.10.10 CALL

(29,767,818) EUR (65,489.20) (0.01%) SWAPTION 1Y1Y BNP NOV3.45 01.11.10 PUT

(322,091,434) GBP (870,076.47) (0.10%) SWAPTION 15Y15Y JUN 3.872 02.06.23 PUT

2,320,000 GBP 155,371.71 0.02% USD(C)/INR(P)OTC DEC 46.5 31.12.09 CALL

(684,314) USD 0.00 0.00% USD(C)/KRW(P)OTC JAN 1000 07.01.10 CALL

114,052 USD 2,782.32 0.00% USD(C)/PHP(P) OTC JAN 48 08.01.10 CALL

991,378 USD 0.00 0.00% USD(C)/PHP(P) OTC JAN 48 08.01.10 CALL

(991,378) USD 0.00 0.00% USD(C)/RUB(P)OTC FEB 30 11.02.10 CALL

(640,447) USD (9,868.62) 0.00% USD(P)/INR(C) OTC DEC 46 31.12.09 PUT

684,314 USD 0.00 0.00% USD(P)/PHP(C) OTC JAN 46 08.01.10 PUT

991,378 USD 1,790.32 0.00% USD(P)/RUB(C)OTC FEB 28 11.02.10 PUT

640,447 USD 820.90 0.00%

FORTIS CREDIT EURO 2011 -C-

93 EUR 9,696,500.85 1.14%

Shares/Units of UCITS/UCIS

11,580,000.94

1.36%

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