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Unaudited semi-annual report as at 30th June 2016

METHOD INVESTMENTS SICAV Société d'Investissement à Capital Variable with multiple Sub-Funds Luxembourg

R.C.S. Luxembourg B 165 419

No subscription can be received on the basis of this financial report. Subscriptions are only valid if made on the basis of the prospectus and key investor information document ("KIID"), supplemented by the latest annual report and the most recent semi-annual report, if published thereafter. Subscription, redemption and conversion forms are available on request from: - the Registered Office of the Company at 2, Rue d'Alsace, L-1122 Luxembourg - the Sub-Transfer Agent, EUROPEAN FUND ADMINISTRATION, 2, Rue d'Alsace, L-1122 Luxembourg.

METHOD INVESTMENTS SICAV

Contents

1

Organisation ........................................................................................................................................... 2

General information ............................................................................................................................... 4

Combined statement of net assets ....................................................................................................... 6

Method Investments SICAV - Attractive Global Opportunities .......................................................... 7 Statement of net assets ........................................................................................................................ 7 Statement of investments and other net assets ................................................................................... 8 Industrial and geographical classification of investments ...................................................................10

Method Investments SICAV - Xingtai China Consumer ...................................................................11 Statement of net assets ......................................................................................................................11 Statement of investments and other net assets .................................................................................12 Industrial and geographical classification of investments ...................................................................13

Method Investments SICAV - Global Brands .....................................................................................14 Statement of net assets ......................................................................................................................14 Statement of investments and other net assets .................................................................................15 Industrial and geographical classification of investments ...................................................................16

Method Investments SICAV - Equity Rebalance ...............................................................................17 Statement of net assets ......................................................................................................................17

Method Investments SICAV - Target Selection (sleeping since 23rd May 2016) ...........................18 Statement of net assets ......................................................................................................................18

Notes to the financial statements .......................................................................................................19


2

Organisation

Registered Office 2, Rue d’Alsace L-1122 Luxembourg Board of Directors Chairman Daniel VAN HOVE

Managing Director ORIONIS MANAGEMENT S.A. 370, Route de Longwy L-1940 LUXEMBOURG

Members Elisa BIANCHI Financial Controller and Head of Accounting METHOD INVESTMENTS & ADVISORY LTD 40 New Bond Street W1S 2RX LONDON (since 5th February 2016)

Paolo ZUOLO FASANARA CAPITAL LTD

40 New Bond Street W1S 2RX LONDON UNITED KINGDOM Annalisa MENICATTI Financial Controller and Head of Accounting METHOD INVESTMENTS & ADVISORY LTD 40 New Bond Street W1S 2RX LONDON (until 5th February 2016) Conducting persons Eric GRENOUILLET Managing Director ORIONIS MANAGEMENT S.A. 370, Route de Longwy L-1940 LUXEMBOURG Carlo Alberto MONTAGNA Independent Director THE DIRECTORS’ OFFICE 19, Rue de Bitbourg L-1273 LUXEMBOURG Promoter METHOD INVESTMENTS & ADVISORY LTD 40 New Bond Street W1S 2RX LONDON UNITED KINGDOM


Organisation (continued)

3

Investment Manager METHOD INVESTMENTS & ADVISORY LTD 40 New Bond Street W1S 2RX LONDON UNITED KINGDOM FASANARA CAPITAL LTD 40 New Bond Street W1S 2RX LONDON UNITED KINGDOM XINGTAI CAPITAL MANAGEMENT LIMITED 55th Floor, The Center 99 Queen’s Road HONG KONG Depositary and Paying Agent KBL EUROPEAN PRIVATE BANKERS S.A.

43, Boulevard Royal L-2955 LUXEMBOURG

Administrative Agent EUROPEAN FUND ADMINISTRATION and Domiciliary Agent Société Anonyme 2, Rue d’Alsace L-1122 LUXEMBOURG Legal adviser DECHERT (LUXEMBOURG) LLP

Avocats à la Cour 1, Allée Scheffer B.P. 709 L-2017 LUXEMBOURG

Cabinet de révision agréé DELOITTE Audit Société à responsabilité limitée 560, Rue de Neudorf L-2220 LUXEMBOURG


4

General information

METHOD INVESTMENTS SICAV (the "Company") is an open-ended investment company organised under the laws of Luxembourg as a "Société d’Investissement à Capital Variable" (SICAV). The Company was incorporated under the form of a public limited liability company (Société Anonyme) on 14th December 2011 and is authorised under Part I of the amended law of 17th December 2010 (the "2010 Act") relating to Undertakings for Collective Investment under the Council Directive 2009/65/EC, as amended. The Company is a self-managed SICAV in accordance with article 27 of the 2010 Act. The Directive 2014/91/EU of the European Parliament and of the Council of 23rd July 2014 amending the Directive 2009/65/EC had been transposed by the law of 10th May 2016 coming into force on 1st June 2016 and amending the amended law of 17th December 2010. The original Articles of the Company were published in the "Mémorial, Recueil des Sociétés et Associations" on 23rd December 2011. As from 1st June 2016, publications are made in the “Recueil électronique des sociétés et associations (“RESA“)“ through the website of “Registre de Commerce et des Sociétés” of Luxembourg. At the date of the present report, the following Sub-Funds are open:

Method Investments SICAV - Xingtai China Consumer in USD

Method Investments SICAV - Global Brands in EUR

Method Investments SICAV - Attractive Global Opportunities in EUR Method Investments SICAV - Equity Rebalance (launched on 10th March 2016) in EUR

Method Investments SICAV - Target Selection (sleeping since 23rd May 2016) in EUR By order of the Board of Directors on 15th January 2016, the reference currency of the Sub-Fund Method Investments SICAV - Global Brands was changed from USD to EUR since the Net Asset Value as of 29th January 2016. The Company reserves the right to create new Sub-Funds. If such Sub-Funds are created, the prospectus shall be amended accordingly. The following classes of shares are open at the date of the report:

class I EUR shares, class I USD shares, class I-Acc EUR shares, class I-Acc USD H shares, class P-Acc EUR shares and class P-Acc EUR H shares: accumulation shares dedicated to institutional investors;

class A-Acc EUR shares and class Listing - Acc EUR shares : accumulation shares dedicated to retail investors.

The Net Asset Value of the Sub-Fund Method Investments SICAV - Xingtai China Consumer is determined twice a month as at each fifteenth and the last calendar day of each month (each a "Valuation Day"). If such a day is not a Business Day, then the Net Asset Value of the Sub-Fund is calculated as at the immediately preceding Business Day in Luxembourg. The Net Asset Value of the Sub-Funds Method Investments SICAV - Target Selection (sleeping since 23rd May 2016) is determined each Business Day (each a "Valuation Day"). The Net Asset Value of the Sub-Funds Method Investments SICAV - Global Brands, Method Investments SICAV - Attractive Global Opportunities and Method Investment - Equity Rebalance (launched on 10th March 2016) is determined daily (each a "Valuation Day"). If such a day is not a Business Day, then the Net Asset Value of the Sub-Funds is calculated as at the immediately preceding Business Day in Luxembourg. The combined accounts of the Company are held in euro (EUR). The accounts of the Company are closed on 31st December each year.


General information (continued)

5

The complaint settlement procedure foreseen by the CSSF Regulation N° 13-02 relating to the out-of-court resolution of complaints is available at the registered office of the Company. The following documents are available for inspection by Shareholders during normal business hours on any Business Day at the Registered Office of the Company: - the Articles of incorporation, - the Investment Management Agreement, - the General Agreement, and - the most recent annual and semi-annual financial statements of the Company. A copy of the Prospectus, the key investor information document ("KIID"), the most recent financial statements and the Articles of incorporation may be obtained free of charge upon request at the Registered Office of the Company.


Combined statement of net assets (in EUR) as at 30th June 2016

The accompanying notes are an integral part of these financial statements.

6

Assets Securities portfolio at market value 109,592,746.47 Option contracts at market value 18,505.50 Deposits on futures contracts 2,749,233.82 Deposits on swaps contracts 2,670,000.00 Cash at banks 21,301,025.78 Other liquid assets 3,839,231.72 Formation expenses, net 12,481.95 Receivable on sales of securities 242,755.09 Receivable on swaps contracts 1,426,108.39 Receivable on treasury transactions 5,113.17 Receivable on issues of shares 27,041.62 Income receivable on portfolio 1,378,211.95 Interest receivable on bank accounts 175.83 Unrealised gain on swaps contracts 156,198.48 Results receivable on contracts for difference (CFD) 99,015.12

Total assets 143,517,844.89

Liabilities Bank overdrafts 267,174.59 Other liquid liabilities 0.44 Payable on swaps contracts 1,105,364.46 Payable on treasury transactions 28,638.10 Interest payable on credit default swap (CDS) 134,069.03 Interest payable on bank overdrafts 3,004.83 Unrealised loss on futures contracts 618,297.83 Unrealised loss on forward foreign exchange contracts 484,541.09 Expenses payable 287,757.27 Payable on credit default swap (CDS) 575,568.08 Result on underlying of swaps contracts payable 32,398.34 Results payable on contracts for difference (CFD) 89,153.83

Total liabilities 3,625,967.89

Net assets at the end of the period 139,891,877.00

Method Investments SICAV - Attractive Global Opportunities

Statement of net assets (in EUR) as at 30th June 2016


7

Assets Securities portfolio at market value 89,723,907.97 Option contracts at market value 18,505.50 Deposits on futures contracts 2,749,233.82 Cash at banks 3,735,322.56 Other liquid assets 3,819,314.33 Formation expenses, net 4,681.87 Income receivable on portfolio 1,237,247.84 Results receivable on contracts for difference (CFD) 99,015.12


Liabilities Bank overdrafts 267,174.59 Other liquid liabilities 0.44 Payable on treasury transactions 28,638.10 Interest payable on credit default swap (CDS) 101,111.12 Interest payable on bank overdrafts 231.37 Unrealised loss on futures contracts 618,297.83 Unrealised loss on forward foreign exchange contracts 473,442.63 Expenses payable 194,594.23 Payable on credit default swap (CDS) 575,568.08 Results payable on contracts for difference (CFD) 89,153.83



Number of class A-Acc EUR shares outstanding 14,541.1550 Net asset value per class A-Acc EUR share 987.68944

Number of class I-Acc EUR shares outstanding 63,073.7457 Net asset value per class I-Acc EUR share 1,072.07791

Number of class I-Acc USD H shares outstanding 13,359.4388 Net asset value per class I-Acc USD H share USD 998.23835

Number of class Listing-Acc EUR shares outstanding 5,130.0000 Net asset value per class Listing-Acc EUR share 981.69118


Statement of investments and other net assets (in EUR) as at 30th June 2016


8

Currency Number / nominal value

Description Cost Market value % of total net

assets

Investments in securities

Transferable securities admitted to an official stock exchange listing

Bonds

EUR 3,000,000 Banco do Brasil SA Gran KY 3.75% EMTN Reg S 13/25.07.18 2,969,400.00 3,011,580.00 3.04 EUR 400,000 Bayer AG VAR Sub 14/01.07.74 392,000.00 407,518.00 0.41 EUR 2,400,000 Cred Suisse Gr Fd (Guer) Ltd 1.25% EMTN Sen 15/14.04.22 2,303,400.00 2,347,080.00 2.37 EUR 25,200,000 Deutschland 0.5% Sen 16/15.02.26 25,985,740.00 26,740,350.00 27.00 EUR 3,000,000 Deutschland 6.5% Ser 97 97/04.07.27 5,114,100.00 5,229,075.00 5.28 EUR 2,000,000 Fiat Chrysler Fin Europe SA 4.75% EMTN Sen 14/15.07.22 2,198,500.00 2,149,440.00 2.17 EUR 2,000,000 Fiat Chrysler Fin Europe SA 7% Ser GMTN 12/23.03.17 2,101,000.00 2,082,880.00 2.10 EUR 100,000 HSBC Holdings Plc VAR Reg S Sub 14/16.03.Perpetual 98,250.00 90,519.50 0.09 EUR 1,750,000 Telecom Italia Finance SA 7.75% EMTN 03/24.01.33 2,374,592.00 2,340,108.75 2.36 EUR 1,000,000 Telefonica Europe BV VAR Sub 14/31.03.Perpetual 1,018,600.00 1,023,260.00 1.03 EUR 1,000,000 Vodafone Group Plc 4.65% 10/20.01.22 1,214,500.00 1,212,425.00 1.23

45,770,082.00 46,634,236.25 47.08

USD 3,600,000 Apple Inc 2.25% Sen 16/23.02.21 3,277,999.01 3,341,227.69 3.37 USD 7,600,000 Bank of America Funding Corp 6.5% Sen 09/01.08.16 7,188,714.74 6,876,958.72 6.94 USD 3,300,000 Du Pont de Nemours (EI) & Co 6% Sen 08/15.07.18 3,335,648.78 3,255,202.82 3.29 USD 1,000,000 EA Partners I BV 6.875% Reg S Sen 15/28.09.20 905,754.95 918,960.70 0.93 USD 800,000 Ford Motor Cred Co LLC 2.943% Ser MTN 16/08.01.19 733,069.56 741,910.95 0.75 USD 3,700,000 Ford Motor Cred Co LLC 5% Sen 11/15.05.18 3,564,076.55 3,536,061.39 3.57 USD 1,500,000 General Electric Co 3.45% 14/15.05.24 1,419,487.69 1,482,524.34 1.50 USD 3,200,000 General Electric Co 5.4% Ser A 07/15.02.17 3,079,328.19 2,964,153.60 2.99 USD 2,000,000 Goldman Sachs Group Inc 5.75% Sen 12/24.01.22 2,034,421.89 2,094,041.83 2.12 USD 1,100,000 Meccanica Holdings USA Inc 7.375% Reg S 09/15.07.39 1,090,966.70 1,069,609.69 1.08 USD 4,800,000 Nestle Holdings Inc 2.25% Reg S Ser 73 13/12.03.19 4,490,200.26 4,465,116.27 4.51 USD 2,200,000 Société Générale 2.625% Sen 13/01.10.18 2,020,129.28 2,031,212.37 2.05 USD 100,000 Tesco Plc 6.15%Reg S Sen 07/15.11.37 93,286.57 84,697.59 0.09 USD 400,000 Volkswagen Gr of Am Fin LLC FRN Reg S Sen 15/22.11.16 364,288.35 359,834.14 0.36

33,597,372.52 33,221,512.10 33.55

Total bonds 79,367,454.52 79,855,748.35 80.63

Warrants and rights

EUR 95,000 Alpha Bank SA Call Wts AlphaBk 10.12.17 2,755.00 95.00 0.00 EUR 119,000 Bank of Piraeus Call Wts 02.01.18 19,956.30 119.00 0.00

Total warrants and rights 22,711.30 214.00 0.00

Transferable securities dealt in on another regulated market

Bonds

USD 8,000,000 Intesa Sanpaolo SpA 3.875% MTN Sen X 13/16.01.18 7,521,728.90 7,388,065.62 7.46

Total bonds 7,521,728.90 7,388,065.62 7.46

Open-ended investment funds

Tracker funds (UCITS)

EUR 19,000 iShares III Plc Core EUR Corporate Bond UCITS ETF Dist 2,466,200.00 2,479,880.00 2.50

Total tracker funds (UCITS) 2,466,200.00 2,479,880.00 2.50

Total investments in securities 89,378,094.72 89,723,907.97 90.59


Statement of investments and other net assets (in EUR) (continued) as at 30th June 2016


9


Description Cost Market value % of total net

assets

Options

OTC financial instruments

Currency options

USD 1 USDJPY Binary call 113 07/07/2016 18,999.30 0.00 0.00 USD 1 USDSAR Call 6.7 16/06/2017 13,094.92 8,800.25 0.01 USD 1,600,000 USDSAR OTC option 3.815 14/02/2017 26,449.20 9,418.61 0.01 USD 1 Dual Binary USD/EUR <= 1.13 and USD/GBP >= 1.5 9/08/2016 17,546.94 286.64 0.00

Total options 76,090.36 18,505.50 0.02

Cash at banks 3,735,322.56 3.77

Bank overdrafts -267,174.59 -0.27

Other net assets/(liabilities) 5,828,455.35 5.89

Total 99,039,016.79 100.00


Industrial and geographical classification of investments as at 30th June 2016

10

Industrial classification

(in percentage of net assets)

Countries and governments 32.28 %

Banks 19.58 %

Diversified financial services 14.10 %

Food, beverage and tobacco 4.51 %

Capital goods 4.49 %

Special Purpose Vehicle (SPV) 4.38 %

Technology hardware and equipment 3.37 %

Raw materials 3.29 %

Investment funds 2.50 %

Telecommunication services 1.23 %

Pharmaceuticals and biotechnology 0.41 %

Automobiles and components 0.36 %

Retailing 0.09 %

Total 90.59 %

Geographical classification

(by domicile of the issuer) (in percentage of net assets)

Germany 32.69 %

United States of America 30.48 %

Italy 7.46 %

Luxembourg 6.63 %

Cayman Islands 3.04 %

Ireland 2.50 %

Guernsey 2.37 %

France 2.05 %

The Netherlands 1.96 %

United Kingdom 1.41 %

Total 90.59 %

Method Investments SICAV - Xingtai China Consumer

Statement of net assets (in USD) as at 30th June 2016


11

Assets Securities portfolio at market value 9,996,081.76 Cash at banks 1,080,167.93 Other liquid assets 22,096.35 Formation expenses, net 1,203.09 Receivable on issues of shares 29,999.97 Income receivable on portfolio 29,268.29 Interest receivable on bank accounts 98.82


Liabilities Expenses payable 31,290.09

Total liabilities 31,290.09


Number of class I EUR shares outstanding 1,850.0000 Net asset value per class I EUR share EUR 938.66120

Number of class I USD shares outstanding 11,913.2433 Net asset value per class I USD share 772.34444


Statement of investments and other net assets (in USD) as at 30th June 2016


12


Description Cost Market value % of total net assets



Shares

HKD 2,330,000 361 Degrees Intl Ltd 755,436.74 666,795.58 5.99 HKD 210,000 Anta Sports Products Ltd 528,931.09 419,599.35 3.77 HKD 6,200,000 Bosideng International Hgs Ltd 520,701.34 527,496.33 4.74 HKD 600,000 Chaowei Power Holdings Ltd 379,616.50 369,711.50 3.32 HKD 1,050,500 China Aircraft Leas Gr Hgs Ltd 1,029,282.02 984,496.74 8.85 HKD 2,800,000 China Dongxiang Group Co Ltd 607,933.40 494,495.58 4.44 HKD 560,000 China Lilang Ltd 504,340.18 355,892.44 3.20 HKD 300,000 Great Wall Motor Co Ltd H 246,655.88 248,279.06 2.23 HKD 3,564,500 Guangdong Land Hgs Ltd 1,042,682.57 1,056,842.50 9.50 HKD 3,000,000 Ozner Water Intl Holding Ltd 556,609.55 506,613.04 4.55 HKD 300,000 Pax Global Technology Ltd 241,442.25 261,814.53 2.35 HKD 1,850,000 Peak Sport Products Co Ltd 460,810.61 553,278.16 4.97 HKD 2,000,000 Perfect Shape Beauty Tec Ltd 225,207.47 198,520.12 1.78 HKD 3,500,000 Pou Sheng Intl (Hgs) Ltd 826,585.21 1,010,647.90 9.08 HKD 460,000 Red Star Mac Gr Corp Ltd Reg-S 452,861.24 498,105.04 4.48 HKD 1,200,000 Sound Global Ltd 751,661.15 460,979.20 4.14 HKD 330,000 Sun Art Retail Group Ltd 220,435.14 230,992.34 2.08 HKD 1,000,000 Xtep Intl Hgs Ltd 473,823.93 534,973.06 4.81 HKD 1,800,000 Yadea Group Hgs Ltd Reg S Ser 144A 326,284.47 313,249.29 2.82

10,151,300.74 9,692,781.76 87.10

USD 30,000 eHi Car Serv Ltd spons ADR repr 2 Shares A 398,919.00 303,300.00 2.73


Cash at banks 1,080,167.93 9.71

Other net assets/(liabilities) 51,376.43 0.46

Total 11,127,626.12 100.00



13



Consumer durables and apparel 36.47 %

Investment companies 9.50 %

Retailing 9.08 %

Commercial services and supplies 8.85 %

Capital goods 5.67 %


Real estate 4.48 %

Utilities 4.14 %

Transportation 2.73 %

Food retailing, drugstores and pharmacies 2.08 %

Pharmaceuticals and biotechnology 1.78 %

Total 89.83 %



Cayman Islands 55.97 %

Bermuda 20.93 %

China 6.71 %

Singapore 4.14 %

Hong Kong 2.08 %

Total 89.83 %

Method Investments SICAV - Global Brands



14

Assets Securities portfolio at market value 10,858,488.98 Cash at banks 2,352,213.73 Formation expenses, net 2,000.44 Receivable on sales of securities 242,755.09 Receivable on treasury transactions 5,113.17 Income receivable on portfolio 80,609.14 Interest receivable on bank accounts 86.75


Liabilities Unrealised loss on forward foreign exchange contracts 8,550.11 Expenses payable 26,907.78



Number of class P-Acc EUR H shares outstanding 14,871.0842 Net asset value per class P-Acc EUR H share 908.19265


Statement of investments and other net assets (in EUR) as at 30th June 2016


15


Description Cost Market value % of total net assets



Bonds

EUR 400,000 Banco Bilbao Vizcaya Argent SA VAR Sub 14/19.05.Perpetual 400,000.00 346,592.00 2.57 EUR 200,000 Fiat Chrysler Fin Europe SA 6.625% EMTN Sen 13/15.03.18 219,900.00 214,749.00 1.59 EUR 600,000 GE Capital European Funding Co 5.375% EMTN Sen

09/23.01.20 717,720.00 714,543.00 5.29

EUR 200,000 Goldman Sachs Group Inc FRN EMTN 07/30.01.17 200,200.00 200,126.00 1.48 EUR 800,000 Italia ILB Ser ICPI 13/12.11.17 832,203.71 824,175.36 6.10 EUR 800,000 Italia ILB Ser ICPI Sen 13/22.04.17 824,612.19 815,626.12 6.04 EUR 100,000 Onorato Armatori SpA 7.75% Reg S Sen 16/15.02.23 96,050.00 96,213.50 0.71 EUR 250,000 Repsol Intl Finance BV VAR Sub Sen 15/25.03.75 216,875.00 213,260.00 1.58 EUR 350,000 Société Générale VAR Reg S Sub 07.10.Perpetual 359,187.50 331,920.75 2.46 EUR 500,000 Unicredit SpA VAR EMTN Reg S Sub 13/28.10.25 550,250.00 520,845.00 3.86 EUR 350,000 Wind Acquisition Finance SA 4% Reg S 14/15.07.20 351,750.00 347,011.00 2.57

4,768,748.40 4,625,061.73 34.25

USD 350,000 Credit Suisse Group AG VAR Reg S Sub 14/18.12.Perpetual 321,382.43 297,925.90 2.21 USD 200,000 EA Partners I BV 6.875% Reg S Sen 15/28.09.20 182,144.46 183,792.14 1.36 USD 250,000 General Motors Financial Co 4.75% Sen 14/15.08.17 227,850.33 232,650.53 1.72 USD 400,000 Nestle Holdings Inc 2.25% Reg S Ser 73 13/12.03.19 367,013.64 372,093.02 2.76 USD 250,000 Novartis Sec Investment Ltd 5.125% Sen 09/10.02.19 241,936.19 248,722.28 1.84 USD 250,000 Vodafone Group Plc 2.5% Sen Tr 2 12/26.09.22 216,419.54 222,293.58 1.65 USD 500,000 Volkswagen Gr of Am Fin LLC 2.4% Reg S Sen 15/22.05.20 439,666.52 455,509.74 3.37

1,996,413.11 2,012,987.19 14.91

Total bonds 6,765,161.51 6,638,048.92 49.16

Transferable securities dealt in on another regulated market

Bonds

EUR 200,000 Telefonica Europe BV VAR Reg S Sub 14/31.03.Perpetual 206,500.00 202,202.00 1.50

Total bonds 206,500.00 202,202.00 1.50

Other transferable securities

Shares

GBP 2,523,220 Rolls-Royce Holdings PLC C 0.00 3,032.69 0.02

Total shares 0.00 3,032.69 0.02

Money market instruments

Money market instruments

EUR 6,000 Italia 0% BOT 15/12.08.16 6,001.20 6,001.74 0.04 EUR 756,000 Italia 0% BOT 15/14.09.16 756,427.53 756,457.38 5.60 EUR 1,250,000 Italia 0% BOT 15/14.12.16 1,251,547.13 1,251,268.75 9.26 EUR 1,250,000 Italia 0% BOT Sen 15/14.10.16 1,251,273.38 1,250,918.75 9.26 EUR 750,000 Italia 0% BOT Sen 16/30.09.16 750,629.25 750,558.75 5.56

Total money market instruments 4,015,878.49 4,015,205.37 29.72


Cash at banks 2,352,213.73 17.42

Other net assets/(liabilities) 295,106.70 2.18

Total 13,505,809.41 100.00



16



Countries and governments 41.86 %

Diversified financial services 15.73 %

Banks 11.10 %

Special Purpose Vehicle (SPV) 3.91 %


Food, beverage and tobacco 2.76 %

Telecommunication services 1.65 %

Total 80.40 %



Italy 46.43 %

United States of America 9.33 %

Ireland 5.29 %

The Netherlands 4.44 %

Luxembourg 4.16 %

Spain 2.57 %

France 2.46 %

Switzerland 2.21 %

Bermuda 1.84 %

United Kingdom 1.67 %

Total 80.40 %

Method Investments SICAV - Equity Rebalance



17

Assets Deposits on swaps contracts 2,670,000.00 Cash at banks 14,232,778.48 Formation expenses, net 4,715.19 Receivable on swaps contracts 1,426,108.39 Income receivable on portfolio 33,972.88 Unrealised gain on swaps contracts 156,198.48


Liabilities Payable on swaps contracts 1,105,364.46 Interest payable on credit default swap (CDS) 32,957.91 Interest payable on bank overdrafts 2,773.46 Expenses payable 33,538.64 Result on underlying of swaps contracts payable 32,398.34



Number of class A-Acc EUR shares outstanding 2,025.2861 Net asset value per class A-Acc EUR share 1,010.32756

Number of class I-Acc EUR shares outstanding 1,605.4700 Net asset value per class I-Acc EUR share 1,011.64472

Number of class P-Acc EUR shares outstanding 13,504.2493 Net asset value per class P-Acc EUR share 1,010.52436

Method Investments SICAV - Target Selection (sleeping since 23rd May 2016)



18

Assets Cash at banks 7,060.45

Total assets 7,060.45

Liabilities Unrealised loss on forward foreign exchange contracts 2,548.35 Expenses payable 4,512.10


Net assets at the end of the period 0.00


Notes to the financial statements as at 30th June 2016

19

Note 1 - Significant accounting policies a) Presentation of the financial statements

The financial statements of the Company are established in accordance with Luxembourg legal and regulatory requirements concerning Undertakings for Collective Investment.

b) Valuation of assets

The value of any cash in hand or on deposit, notes and bills payable on demand and accounts receivable (including reimbursements of fees and expenses payable by any UCI in which the Company may invest), prepaid expenses and cash dividends declared and interest accrued but not yet collected, is deemed the nominal value of these assets unless it is improbable that it can be paid and collected in full; in which case, the value will be arrived at after deducting such amounts as the Board may consider appropriate to reflect the true value of these assets.

Securities and Money Market Instruments listed on an official stock exchange or dealt on any other Regulated Market are valued at their last available price on the Valuation Day and, if the security or Money Market Instrument is traded on several markets, on the basis of the last known price on the main market of this security. If the last known price is not representative, valuation is based on the fair value at which it is expected it can be sold, as determined with prudence and in good faith by the Board.

Unlisted securities and securities or Money Market Instruments not traded on a stock exchange or any other Regulated Market as well as listed securities and securities or Money Market Instruments listed on a Regulated Market for which no price is available, or securities or Money Market Instruments whose quoted price is, in the opinion of the Board, not representative of actual market value, are valued at their last known price or, in the absence of such price, on the basis of their probable realisation value, as determined with prudence and in good faith by the Board.

The valuation of investments reaching maturity within a maximum period of 90 days may include straight-line daily amortisation of the difference between the principal 91 days before maturity and the value at maturity.

The liquidation value of futures, spot, forward or option contracts that are not traded on stock exchanges or other Regulated Markets is equal to their net liquidation value determined in accordance with the policies established by the Board on a basis consistently applied to each type of contract. The liquidation value of futures, spot, forward or option contracts traded on stock exchanges or other Regulated Markets is based on the latest available price for these contracts on the stock exchanges and Regulated Markets on which these option, spot, forward or futures contracts are traded, provided that if an option or futures contract cannot be liquidated on the date on which the net assets are valued, the basis for determining the liquidation value of said contract shall be determined by the Board in a fair and reasonable manner.

Liquid assets and money market instruments are valued at their nominal value plus accrued interest, or on the basis of amortised costs.

Any other securities and assets are valued in accordance with the procedures put in place by the Board and with the help of specialist valuers, as the case may be, who are instructed by the Board to carry out the said valuations.

Shares or Units in underlying open-ended investment funds are valued at their last available Net Asset Value.


Notes to the financial statements (continued) as at 30th June 2016

20

c) Acquisition cost of securities in the portfolio

The acquisition cost of the securities held by each Sub-Fund that are denominated in currencies other than the reference currency of the Sub-Fund is converted into this currency at the exchange rate prevailing on the date of purchase.

d) Net realised gain (loss) on sales of securities

The realised gains and losses on sales of securities are calculated on the basis of the average acquisition cost.

e) Investment portfolio income

Dividend income is recorded at the ex-date, net of any withholding tax.

Interest income accrued on a pro-rata temporis basis and payable is recorded, net of any withholding tax.

f) Valuation of forward foreign exchange contracts

Forward foreign exchange contracts are valued at forward rates for the remaining period from valuation date to the maturity of the contracts. Net unrealised gains or losses are recorded in the statement of net assets..

g) Valuation of futures contracts

Futures contracts are posted off-balance sheet and valued at the last settlement or close price on the stock exchanges or regulated markets. Unrealised gains or losses are recorded in the statement of net assets.

h) Valuation of option contracts

Premiums paid on the purchase of options are recorded under the item ʺOption contracts at market valueʺ in the statement of net assets and are presented a cost in the statement of investments and other net assets. Premiums received on issued options are recorded under the item ʺShort option contracts at market valueʺ in the statement of net assets and are presented a cost received in the statement of investments and other net assets. Option contracts outstanding at the date of the report are valued at the last settlement or closing price on the stock exchanges or regulated markets.

i) Valuation of Contracts For Differences (CFD)

Contracts For Differences (CFD) are registered in the off-balance sheet and valued on the basis of the last available price of their underlying. Net unrealised gains or losses are recorded in the statement of net assets.

j) Valuation of swaps contracts

Swaps contracts are registered on the off-balance sheet and valued on the basis of the recalculated market prices by using the traditional elements of pricing, considering the value, the volatility of the underlying, the interest rates and the residual value of the swap. Unrealised gains or losses are recorded in the statement of net assets.



21

k) Formation expenses

Formation expenses are amortised on a straight line basis over a period of 5 years.

If the launch of a Sub-Fund occurs after the launch date of the Company, the costs of formation in relation to the launch of the new Sub-Fund is charged to such Sub-Fund alone and may be amortised over a maximum of 5 years with effect from the Sub-Fund’s launch date.

l) Conversion of foreign currencies

Cash at banks, other net assets and liabilities and the market value of the securities in portfolio expressed in currencies other than the currency of the Sub-Fund are converted into this currency at the exchange rate prevailing on the date of the report. Income and expenses expressed in currencies other than the currency of the Sub-Fund are converted into this currency at the exchange rate prevailing on the date of the transaction.

At the date of the report, the exchange rates were as follows: 1 EUR = 1.4899275 AUD Australian Dollar 3.5628381 BRL Brazilian Real 1.4409442 CAD Canadian Dollar 7.3957042 CNH Chinese Offshore Yuan 7.3754576 CNY Chinese Yuan Renminbi 0.8320084 GBP Pound Sterling 8.6060595 HKD Hong Kong Dollar 74.9207791 INR Indian Rupee 113.7356915 JPY Japanese Yen 1,281.5240595 KRW South Korean Won 9.2982142 NOK Norwegian Krona 1.5577085 NZD New Zealand Dollar 70.9072990 RUB Russian Rouble 9.4089878 SEK Swedish Krona 1.4939735 SGD Singapore Dollar 3.1918547 TRY New Turkish Lira

(1 TRY=1,000,000 TRL) 35.7481958 TWD New Taiwan Dollar 1.1094000 USD US Dollar

1 USD = 6.6481500 CNY Chinese Yuan Renminbi 0.9013881 EUR Euro 7.7574000 HKD Hong Kong Dollar

m) Combined financial statements

The combined financial statements of the Company are expressed in EUR and are equal to the sum of the corresponding items in the financial statements of each Sub-Fund converted into this currency at the exchange rates prevailing at the date of the report. At the date of the report, the exchange rate used for the combined statement is the following:

1 EUR = 1.1094000 USD US Dollar



22

Note 2 - Investment Management Fee The Investment Manager is entitled to receive out of the assets of each share Class an Investment Management Fee accrued on each Valuation Day and payable monthly in arrears at the following rates p.a.:

Sub-Funds Effective rate

- Method Investments SICAV - Attractive Global Opportunities - for class A-Acc EUR 2.25% - for class I-Acc EUR shares and class I-Acc USD H shares 1.75% - for class Listing-Acc EUR 1.75%

- Method Investments SICAV - Xingtai China Consumer - for class I EUR and class I USD shares 1.50%

- Method Investments SICAV - Global Brands -for class P-Acc EUR H shares 1.00%

- Method Investment SICAV - Equity Rebalance (launched on 10th March 2016) - for class A-Acc EUR 2.25% - for class I-Acc EUR 1.75% - for class P-Acc EUR 1.25%

- Method Investments SICAV - Target Selection (sleeping since 23rd May 2016) - for class H-Acc EUR shares 0.50%. - for class Listing-Acc EUR 1.20%

Note 3 - Performance Fee In addition to the Investment Management Fee, the Investment Manager is entitled to receive a Performance Fee out of the appreciation of the Net Asset Value per share and which is due as of each Valuation Day and is payable monthly in arrears. The Performance Fee is calculated with the following rates:

Sub-Funds Rates

- Method Investments SICAV - Attractive Global Opportunities - for class A-Acc EUR 20% above Bofa* 1M EUR LIBID - for class I-Acc EUR shares - for class I-Acc USD H shares - for class Listing-Acc EUR

20% above Bofa* 1M EUR LIBID 20% above Bofa* 1M USD LIBID 20% above Bofa* 1M EUR LIBID

- Method Investments SICAV - Xingtai China Consumer - for class I EUR and class I USD shares 15%

- Method Investments SICAV - Global Brands - for class P-Acc EUR H shares 10%

- Method Investments SICAV - Equity Rebalance (launched on 10th March 2016)

- for class A-Acc EUR shares - for class I-Acc EUR shares - for class P-Acc EUR shares

20% above Bofa* 1M EUR LIBID 20% above Bofa* 1M EUR LIBID 15% above Bofa* 1M EUR LIBID

- Method Investments SICAV - Target Selection(sleeping since 23rd May 2016)

- for class H-Acc EUR shares 10%. - for class Listing-Acc EUR 10%

*Bofa=Bank of America



23

With effective date on 29th February 2016, the Investment Manager of the Sub-Fund Method Investments SICAV - Equity Rebalance (launched on 10th March 2016) decided to reduce the Performance Fee for class P-Acc EUR shares from 20% above Bofa* 1M EUR LIBID to 15% above Bofa* 1M EUR LIBID. The Performance Fee accrues only on the Valuation Day on which the Net Asset Value per share exceeds the "High Water Mark", which is equal to the highest Net Asset Value per share on any previous Valuation Day. As of each Valuation Day, the Performance Fee (if any) which shall accrue is the amount equal to:

(i) The difference (if positive) between:

(A) the Net Asset Value per Share (before deducting the Performance Fee, if any, which accrues as of the same Valuation Day) as of such Valuation Day; and (B) the High Water Mark; multiplied by

(ii) The number of shares, which are issued on the Valuation Day; and multiplied by

(iii) The percentage rate applicable to the calculation of the Performance Fee.

At the date of the report, the performance fee was recorded for the following Sub-Funds and amounted to:

Method Investments SICAV - Attractive Global Opportunities EUR 1,549.42

Method Investments SICAV - Equity Rebalance (launched on 10th March 2016)

EUR 46,534.40

Method Investments SICAV - Target Selection (sleeping since 23rd May 2016)

EUR 182.50

Note 4 - Commission on shares issued, redeemed and converted The following sales charges out of the Net Asset Value per class I-Acc EUR shares, class I-Acc USD H shares, class A-Acc EUR shares, class H-Acc EUR shares, class P-Acc EUR shares, class P-Acc EUR H shares may be added to the subscription price to be paid to distributors, sub-distributors or intermediaries:

Method Investments SICAV - Attractive Global Opportunities: up to 5% Method Investments SICAV - Xingtai China Consumer: up to 5% Method Investments SICAV - Global Brands: up to 5% Method Investments SICAV - Equity Rebalance (launched on 10th March 2016): up to 5% Method Investments SICAV - Target Selection (sleeping since 23rd May 2016): up to 5%

No sales charge is added for the subscription of class I EUR, Listing-Acc EUR and class I USD shares. Shares are redeemed at an amount which equals the Net Asset Value per Share as of the applicable Valuation Day. No conversion fee and no redemption fee are levied.



24

Note 5 - Subscription duty ("taxe d’abonnement") The Company is governed by Luxembourg laws. Pursuant to the legislation and regulations in force, the Company is subject to an annual subscription duty ("taxe d’abonnement") of 0.05% of its net assets, calculated and payable quarterly, on the basis of the net assets at the end of each quarter. A lower rate of 0.01% is applied to the classes reserved to institutional investors according to Article 174 (2) of the amended law of 17th December 2010. Pursuant to Article 175 (a) of the amended law of 17th December 2010 the net assets invested in undertakings for collective investment already subject to the "taxe d’abonnement" are exempt from this tax. Note 6 - Forward foreign exchange contracts As at 30th June 2016, the Sub-Funds are committed in the following forward foreign exchange contracts:

Method Investments SICAV - Attractive Global Opportunities Currency Purchases Currency Sales Maturity Unrealised

result (in EUR)

Forward foreign exchange contracts BRL 3,208,500.00 USD 900,000.00 08.07.2016 88,302.65 CAD 649,915.50 USD 500,000.00 08.07.2016 344.43 CNH 6,560,500.00 USD 1,000,000.00 08.07.2016 -14,393.53 EUR 53,547,523.43 USD 60,000,000.00 08.07.2016 -531,312.19 NZD 2,897,740.20 USD 2,000,000.00 08.07.2016 57,269.04 USD 500,000.00 CAD 654,012.50 08.07.2016 -3,187.71 USD 1,000,000.00 CNH 6,603,500.00 08.07.2016 8,579.34 USD 9,000,000.00 EUR 8,060,182.70 08.07.2016 51,640.31 USD 4,448,148.00 EUR 4,000,000.00 08.07.2016 9,175.23 USD 2,000,000.00 NZD 2,938,756.32 08.07.2016 -83,600.10 KRW 1,746,225,000.00 USD 1,500,000.00 12.07.2016 10,404.32 USD 900,000.00 BRL 3,303,000.00 12.07.2016 -113,832.32 USD 500,000.00 KRW 597,115,000.00 12.07.2016 -15,204.13 USD 1,000,000.00 KRW 1,194,200,000.00 12.07.2016 -30,384.86 USD 500,000.00 RUB 32,457,350.00 12.07.2016 -6,084.19 USD 500,000.00 TWD 16,322,000.00 12.07.2016 -5,990.29 USD 1,000,000.00 TWD 32,658,000.00 12.07.2016 -12,372.20 USD 500,000.00 KRW 576,150,000.00 22.07.2016 1,195.88 USD 1,000,000.00 TWD 32,436,000.00 22.07.2016 -6,353.25 INR 77,629,000.00 EUR 1,000,000.00 03.01.2017 -1,872.09 INR 155,138,000.00 EUR 2,000,000.00 03.01.2017 -5,345.86 TRY 5,054,383.50 EUR 1,500,000.00 03.01.2017 10,476.40

-592,545.12 Forward foreign exchange contracts linked to class I-Acc USD H USD 13,450,000.00 EUR 12,003,569.83 08.07.2016 119,102.49

119,102.49



25

Method Investments SICAV - Global Brands Currency Purchases Currency Sales Maturity Unrealised

result (in EUR)

Forward foreign exchange contracts

EUR 700,000.00 GBP 556,605.00 27.10.2016 33,297.50

EUR 100,000.00 GBP 81,020.00 27.10.2016 2,947.91 EUR 1,006,432.42 USD 1,150,000.0

0 27.10.2016 -25,832.13

EUR 231,925.43 USD 260,000.00 27.10.2016 -1,437.25

EUR 232,936.32 USD 265,000.00 27.10.2016 -4,928.95 EUR 750,353.11 USD 850,000.00 27.10.2016 -12,597.19

-8,550.11

Method Investments SICAV - Target Selection (sleeping since 23rd May 2016) Currency Purchases Currency Sales Maturity Unrealised

result (in EUR)

EUR 230,000.00 GBP 182,884.50 27.10.2016 10,940.61

GBP 50,290.50 EUR 65,000.00 27.10.2016 -4,767.68

GBP 130,473.75 EUR 165,000.00 27.10.2016 -8,721.28

-2,548.35

Note 7 - Futures contracts As at 30th June 2016, the following Sub-Fund of the Company is committed in the following futures contracts with GOLDMAN SACHS GROUP, London:

Method Investments SICAV - Attractive Global Opportunities Number

of contracts

Denomination Currency Exposure (in EUR)

Unrealised result

(in EUR)

Sale 4 DAX Germany Index FUT 09/16 EUX

EUR -966,850.00 -6,837.50

Sale 9 Euro BTP 10 Years FUT 09/16 EUX

EUR -1,283,490.00 -7,920.00

Sale 196 Euro Bund 10 Years FUT 09/16 EUX

EUR -32,755,520.00

-536,650.00

Sale 12 FTSE 100 Index FUT 09/16 ICE

GBP -926,312.76 -71,597.83

Purchase 50 MSCI Emerging Markets Index FUT 09/16 ICE

USD 1,880,971.70 51,523.35

Sale 30 S&P 500 Index FUT 09/16 CME

USD -2,826,189.83 -46,815.85

-618,297.83

At the date of the report, the Sub-Fund has pledged assets, recorded in the items "Deposits on futures contracts" represented in the statement of net assets in favour of GOLDMAN SACHS GROUP, London , acting as counterparty to the Sub-Fund for derivatives Futures.



26

Note 8 - Contracts For Differences (CFD) As at 30th June 2016, the SICAV is not committed in any Contracts For Differences. Note 9 - Swaps contracts At the date of the report, the following Sub-Fund has pledged assets, recorded in the items "Deposits on swaps contracts", in favour of SOCIETE GENERALE, acting as counterparty to the SICAV for derivatives Swaps. Method Investments SICAV - Equity Rebalance (launched on 10th March 2016)

Quantity Currency Underlying Underlying exposure (in EUR)

Variable rate Maturity Unrealised

result (in EUR)

86,000,00 JPY Es-con Japan Ltd 254,062.73 LIBOR JPY 1

Month 18.04.2018

24,359.92

15,400,00 JPY Escrow Agent Japan Inc 262,679.20

LIBOR JPY 1 Month 18.04.2018

19,574.15

30,000,00 JPY Intellex Co Ltd 229,743.19 LIBOR JPY 1

Month 18.04.2018

7,373.09

16,800,00 JPY Nojima Corp Ltd 248,154.29 LIBOR JPY 1

Month 18.04.2018

18,535.06

16,800,00 JPY Osaka Kohki Co Ltd 120,384.37 LIBOR JPY 1

Month 18.04.2018

5,728.83

20,300,00 JPY Solasto Corp 209,718.69 LIBOR JPY 1

Month 18.04.2018

10,861.99

22,600,00 JPY Solxyz Co Ltd 106,904.00 LIBOR JPY 1

Month 18.04.2018

1,613.10

18,000,00 JPY Sotoh Co Ltd 174,087.83 LIBOR JPY 1

Month 18.04.2018

3,469.13

16,800,00 JPY World Holdings Co Ltd 253,471.88 LIBOR JPY 1

Month 18.04.2018

21,613.85

1,859,206.18 113,129.12

- 97,517,00 JPY Topix Total Return JPY Index 1,507,043.69

LIBOR JPY 1 Month 18.04.2018

43,069.36

3,366,249.87 156,198.48

Note 10 - Statement of changes in investments The statement of changes in investments for the period in reference to the report is available free of charge at the registered office of the Company.



27

Note 11 - Illiquid asset As at 30th June 2016, the Sub-Fund Method Investments SICAV - Xingtai China Consumer is invested in Sound Global Ltd. The security is valued with its pre-suspension price at 2.98 HKD and represent 4.14% of the Total Net Assets. The Board of Directors believes the following reasons justify that price at 2.98 HKD as of 30th June 2016: 1. All pre-conditions required issued by the HKEx on 10th July 2015 were met by the company. Although the reason for the current suspension order from the HK SFC is unclear, we believe it is very likely this could be related to the old issues that HKEx had looked into. 2. The company’s 2014 fiscal year results and 2015 first-half results indicated strong growth with revenue up 12.5% (FY14) and 12.6% (1H15), and net income up 16.3% (FY14) and 30.9% (1H15). 2H15 results for the company are still pending due to the suspension ordered by HK SFC; however, based on our discussions with the company, business is on track in 2H15 and 1H16. 3. The company’s business development was on track in terms of adding capacity and projects. Total capacity addition for 2015 was 1.2 million tons/day. 4. Comparable peer companies had strong fundamental financial performance and strong share price performance between Jan 2015 and Aug 2016. 5. SOE company Beijing Enterprise Water (371 HK) is currently a 12% stakeholder of Sound Global, which could lead to a potential general offer to Sound Global's other current shareholders with a decent premium. Note 12 - Events By Circular Resolution on 23rd May 2016 and with effective date at the same date, the Board of Directors decided to approve the Redemption for the account of the Sub-Fund Method Investment SICAV - Target Selection (sleeping since 23rd May 2016). Further to the Redemption, the Board acknowledged that there was no investor in the Sub-Fund as of the effective date of the Redemption and decided to maintain the Sub-Fund under CSSF circular 12/540 during a maximum period of 18 months starting with the day where the last outstanding shares have been redeemed, with the view to be able to accept further subscription request. Note 13 - Subsequent Events

By Circular Resolution on 13rd July 2016 and with the consent of the investors who want to proceed to

a full redemption of their shares from the Sub-Fund Method Investment SICAV- Xingtai china Consumer,

the Board of Directors decided to approve the Redemption. The board resolved to maintain the Sub-

Fund active and find new investors before the last Redemption Day on 14th October 2016.

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