AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF · to 10% of its assets in the following: - Euro-denominated debt instruments and money-market instruments: Cash flow will be managed through

AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF

Annual report June 2015

AMUNDI’S UCITS Fund Manager: AMUNDI Delegated fund accountant: CACEIS FUND ADMINISTRATION FRANCE Custodian: CACEIS BANK FRANCE Auditors: PRICEWATERHOUSECOOPERS AUDIT

Annual Report on 06/30/15 2- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Contents

Informations about the Fund 3

Annual Report 8

Significant events during the financial period 10

Specific details 14

Regulatory informations 15

Auditor's Certification 16

Annual accounts 19

Balance Sheet 20

Balance Sheet Liabilities 21

Off-balance sheet 22

Income Statement 23

Notes to the annual accounts 24

Accouting rules and methods 25

Changes in net assets 28

Table of profit (loss) of the fund over the past five financial periods 35

Portfolio Listing 36

Pages

UCITS AMUNDI ETF MSCI EUROPE ENERGYUCITS ETF

UCITS AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF

Annual Report on 06/30/15 3

Informations about the Fund AMF classification International equities. Allocation of net profit Accumulation and/or distribution at the discretion of the Management Company. Allocation of net capital gains realised Accumulation and/or distribution at the discretion of the Management Company. Tax treatment The Fund is eligible for the Plan d’Epargne en Actions ("PEA" reserved for French investors) and life insurance policies. The Fund may provide a support vehicle for life insurance policies denominated in units of account. The UCITS, by its nature, is not subject to taxation. However, unitholders may be taxed on any income distributed by the Fund or when they sell Fund units. The tax treatment applicable to amounts distributed by the Fund or unrealised or realised capital gains or losses will depend on the individual unitholder's tax situation, residence for tax purposes and/or the investment jurisdiction of the Fund. If an investor is uncertain of his or her tax position, the investor should consult a financial advisor or a professional investment consultant to determine the tax rules applicable to his or her particular situation before any investment. Some income distributed by the UCITS to unitholders residing outside France may be subject to withholding tax in France. Benchmark index The Fund’s benchmark index is the USD-denominated, euro-adjusted MSCI Europe Energy Index with net dividends reinvested (net return). The MSCI Europe Energy Index is an "equities" index calculated and published by the international index supplier MSCI Inc. ("MSCI"). The equities constituting the MSCI Europe Energy Index are taken from a portfolio of European companies in the energy sector. The MSCI Europe Energy Index investment focus is derived from the MSCI Europe focus, covering approximately 85% (+/- 5%) of all market capitalisation, float-adjusted to the European markets. The MSCI Europe Energy Index is a sub-category of the MSCI Europe Index. The MSCI Europe Energy Index shares the following basic features with the MSCI indices: a) it belongs to MSCI’s range of “investable” equity indices, which are segmented by size, style and industry; b) securities included in the MSCI Europe Energy Index are float-adjusted; c) classified by sector according to the Global Industry Classification Standard (GICS). MSCI’s methodology and calculation methods mean that the number of stocks making up the MSCI Europe Energy Index varies. On 28/11/2014*, the MSCI Europe Energy Index consisted of 22 components from the following 15 European countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and United Kingdom. * Source: MSCI The full methodology of the construction of the MSCI Europe Energy Index is available on the MSCI website: mscibarra.com. The performance tracked is the closing price of the MSCI Europe Energy Index. Management fees and commissions Administrative and management fees: 0.25% including tax. Subscription fees received by the Fund: None.



In compliance with current regulations, this mutual fund has, during the financial period just ended, levied charges at rates which are in line with those stated in the Prospectus and set out in the paragraph “Management Fees” and use under the following headings: - Notes to the annual accounts/Management fees. - Further Details/Subscription and/or redemption fees/Management fees. Investment objective The Fund’s investment objective is to replicate as closely as possible the value in euro of the MSCI Europe Energy Index (see section “Benchmark index”), whether the MSCI Europe Energy Index rises or falls. The Fund is managed so as to achieve a gap between changes in its NAV and changes in the value of the euro-adjusted MSCI Europe Energy Index (referred to below as the “MSCI Europe Energy Index”) as small as possible. The target for maximum tracking error between the Fund’s NAV and the value of the euro-adjusted MSCI Europe Energy Index is 2%. If the “tracking error” exceeds 2%, the objective would nevertheless be to remain below 15% of the volatility of the euro-adjusted MSCI Europe Energy Index. Investment strategy The Fund is managed by “index tracking” 1. Strategy employed: The Fund is managed by a technique known as “index-tracking” with the objective to replicate changes in the performance of the euro-adjusted MSCI Europe Energy Index using a swap-based replication method. To maintain the closest possible correlation with the performance of the euro-adjusted MSCI Europe Energy Index, the Fund will buy a diversified portfolio of equities (the "Portfolio") and an over-the-counter (OTC) total return swap, a financial derivative instrument which turns the exposure to the Portfolio into an exposure to the euro-adjusted MSCI Europe Energy Index. The Fund will comply with the investment rules set forth in Articles R 214-21 and R214-22 of the French Monetary and Financial Code (CMF). The Portfolio comprising directly held assets described in the "Assets used" section, complies with the provisions of Article R 214-21 of the French Monetary and Financial Code (CMF). The Fund's exposure to the Index achieved through the total return swap may be eligible for exemption ratios applicable to the index-tracking UCITS referred to in Article R214-22 of the French Monetary and Financial Code (CMF). That Article stipulates that an index may comprise up to 20% equities or debt securities issued by the same entity; this limit may be raised to 35% maximum for a single issuing entity, when such increase is justified by special market circumstances such as the regulated markets where some marketable securities or some money-market instruments are largely dominant. 2. Asset used (except embedded derivatives): The Fund's exposure to the Index is achieved through the total return swap. The Portfolio consists of the Fund's directly held assets described below. - Equities: The Fund will be permanently exposed at least 60% on a foreign equities market or on equity markets in a number of countries, including the French market when appropriate. Up to 100% of the Fund’s net assets will be invested, subject to the legal and regulatory ratios, in international equities (any economic sector, traded on any market). The equities in the Fund's assets will be the equities forming the MSCI Europe Energy Index and other international equities, from all economic sectors, listed on all markets, including smallcap markets. The equities in the Fund's assets will be chosen to limit costs associated with reproducing the MSCI Europe Energy Index.



Over 75% of the portfolio’s value will, at all times, consist of stocks of companies registered in a Member State of the European Union, or in another State which is part of the European Economic Area (EEA) and has signed a tax convention with France that provides for administrative assistance to prevent fraud and tax evasion. This minimum level of equity exposure makes the Plan d’Epargne en Actions (French Stock Savings Plan - PEA). - Interest-rate instruments: Up to 25% of the Fund’s net assets may be invested in any kind of bond instruments. Portfolio securities will be selected according to management decision and in compliance with the internal credit risk monitoring policy of the Management Company. For the purpose of stock-picking, management does not, neither exclusively nor mechanically, rely on the ratings issued by rating agencies, but bases its buy and sell convictions of a security on its own credit and market analyses. For information, management may specifically deal in securities with minimum ratings, at the time of purchase, of BBB- in the S&P and Moody’s scale ("investment grade" rating). The bond issuers selected may be from the private sector or from the public sector (national or local governments, etc.), and private sector debt may account for up to 100% of all debt instruments. Foreign debt instruments will be denominated in the currency of one of the OECD member countries. In order to meet its investment objective and/or manage intermediate financial flows, the Fund may hold up to 10% of its assets in the following: - Euro-denominated debt instruments and money-market instruments: Cash flow will be managed through money-market instruments. Portfolio securities will be selected according to management decision and in compliance with the internal credit risk monitoring policy of the Management Company. For the purpose of stock-picking, management does not, neither exclusively nor mechanically, rely on the ratings issued by rating agencies, but bases its buy and sell convictions of a security on its own credit and market analyses. For information, management may specifically deal in securities with minimum ratings of AA in the S&P and Moody’s scale. The bond issuers selected may be from the private sector or from the public sector (national or local governments, etc.), and private sector debt may account for up to 100% of all debt instruments. The average maturity of these instruments will not exceed ten years. - UCITS units or shares: The Fund may hold up to 10% of its assets in UCITS units and/or shares. These UCITS are representative of all asset classes, in compliance with the Fund's requirements. They may be UCITS managed by the Management Company, or by other entities, regardless of whether they belong to the Crédit Agricole SA Group, including related companies. 3. Derivatives: The Fund will use derivative financial instruments, including total return equity swaps that swap the value of equities held by the Fund for the MSCI Europe Energy Index value. Off-balance sheet commitments are calculated by the accrual method of accounting. The Fund may take positions in the following derivatives: Type of market: regulated organised over-the-counter



Categories of risk in which the Fund intends to take a position: equity risk interest rate risk currency risk credit risk other risks Nature of positions to be taken, which must be limited to those required to meet the management objective: hedging exposure arbitrage other Types of instruments used: futures: on equities and indices options: on equities and indices total return swap: on equities and indices total return swap: credit derivatives: credit default swaps other Strategies for use of incorporated derivatives to achieve the management objective: constructing synthetic exposure to a particular security, sector and/or to the MSCI Europe Energy Index via the use of swaps. management of intermediate cash flows (dividends, subscriptions/redemptions, etc.) to reach the desired degree of exposure to a particular stock and/or sector and/or to the MSCI Europe Energy Index via the use of futures. management of intermediate cash flows (dividends, subscriptions/redemptions, etc.) to reach the desired degree of exposure to a particular stock and/or sector and/or to the MSCI Europe Energy Index via the use of options. These instruments may be used to hedge up to 100% of the Fund’s net assets. 4. Securities incorporating derivatives (“embedded derivatives: None. 5. Deposits and liquid assets: The Fund may hold up to 20% of its net assets in deposits for a maximum term of twelve months. The deposits are used for cash management purposes and help the Fund achieve its management objectives. 6. Borrowing: The Fund may temporarily, and in exceptional cases, borrow up to 10% of its net assets in order to optimise its cash flow management. 7. Temporary acquisitions and sales of securities: None. Over-exposure of the assets: None All its commitments on derivatives and embedded derivatives may not exceed 110% of the Fund's net assets. Information on UCITS financial guarantees (collateral) None.



Overview of the procedure for choosing intermediaries/counterparties and comments The Management Company generally issues a bid tender. In this case, a comprehensive Request For Proposal (“RFP”) (total return swap and market making) was issued for a portion of the AMUNDI ETF Fund product line. For this reason, neither the Management Company nor the Delegated Fund Manager have undertaken or shall undertake, for this particular Fund, a formal competitive bidding procedure that can be tracked and monitored among counterparties for OTC derivative financial instruments, as the counterparty has already been selected during the comprehensive RFP. The Fund may carry out these transactions with BNP Paribas SA or any other Company of the BNP Paribas SA group as counterparties or intermediaries. Risk profile Equity risk Capital risk Factors that may influence the ability of the Fund to track the performance of the MSCI Europe Energy Index Credit risk Counterparty risk related to the tracking method selected Credit Risk Sector/industry risk Liquidity risk Liquidity risk in a stock market



Annual Report June 2015 The fund’s objective is to track the MSCI Europe Energy index while remaining eligible for the PEA (i.e. the fund undertakes to hold 75% of its assets in PEA-eligible equities at all times). It therefore holds a basket of shares and a performance swap which turns the Fund’s equity exposure into an exposure to the MSCI Europe Energy. For the period under review, the portfolio AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF performance is -14.33%. The benchmark performance is -14.38% with a tracking error of 0.14%. Past performance is no guarantee of future performance.



Efficient portfolio management (EPM) techniques and Financial derivative instruments a) Exposure obtained through the EPM techniques and Financial derivative instruments • Exposure obtained through the EPM techniques: None. • Underlying exposure reached through financial derivative instruments: 11,028,356.16.

- Other Swaps: 11,028,356.16. b) Identity of the counterparty(ies) to EPM techniques and Financial derivatives instruments

EPM techniques Financial derivative instruments (*)

BNP PARIBAS FRANCE

(*) Excepted derivative listed c) Type and amount of collateral received by the UCITS to reduce counterparty risk

Type of financial instruments Amount portfolio currency

EPM Securities Cash Total

Financial derivative instruments Securities Cash Total

d) Revenues and operational cost/fees from EPM

Revenues and operational cost/fees Amount portfolio currency

Revenues (**) Total revenues Direct operational fees Indirect operationnal fees Total fees

(**) Revenues received from loans, repurchase and reverse repurchase agreements



Significant events during the financial period 05 February 2015. Change. Indication of the place where you can get the latest annual report and the last periodic statement: The latest annual and periodic documents are sent out within eight working days on simple written request from the holder to: Amundi ETF 90 boulevard Pasteur CS 21564 75730 Paris Cedex 15 Tel: 01 76 32 47 74 e-mail: [email protected] Additional information can be obtained from Amundi, as well as on the website amundietf.com. The "Autorité des Marchés Financiers" ("AMF") amf-france.org website contains additional information about the list of regulatory documents and all of the provisions relating to protection of investors. 05 February 2015. Change. Listing of the units on the Euronext Paris NextTrack market: Listing of the units on the Euronext Paris NextTrack market: 05 February 2015. Change. Listing of the units on the Euronext Paris NextTrack market: By reference to article D.214-22-1 of the French Monetary and Financial Code ("CMF") whereby shares or units in undertakings for collective investment in transferable securities may be the subject of an admission to listing provided that organisations have implemented a plan ensuring that the Stock Exchange price of the shares or units does not differ significantly from their net asset value, the following operating rules, determined by Euronext Paris SA, apply to the listing of the Fund's units: reservation thresholds are set by applying a percentage change of xxx% either side of the Indicative Net Asset Value or "NAV" (see "Indicative Net Asset Value" section) of the Fund, published by Euronext Paris SA and updated as an estimate during the session depending on the variation of the MSCI Europe Energy Index; trading of the Fund's units on the Euronext Paris NextTrack market is suspended in the following cases: suspension or halt of the listing or calculation of the MSCI Europe Energy Index by the index provider; suspension of the market(s) on which the securities included in the MSCI Europe Energy Index; unavailability of the MSCI Europe Energy Index price for NYSE Euronext; impossibility for Euronext Paris to obtain the daily net asset value of the Fund and/or publish the "NAV"; violation of the rules applicable on the Euronext Paris market by a market maker; failure of the Euronext Paris systems, namely computer or electronic systems; disruption or difficulty of the stock market making normal market management impossible; any other event preventing the calculation of the NAV of the Fund or trading of Fund units. Similarly, "Market makers" must ensure that the unit price of the Fund units does not deviate by more than plus or minus xxx% from the Indicative Net Asset Value of the Fund, in order to observe the reservation thresholds set by Euronext Paris SA (see "Indicative net asset value" section). 05 February 2015. Deletion. Revision of the MSCI Europe Energy Index. The MSCI Europe Energy Index is also calculated each Stock Exchange trading day. The MSCI Europe Energy Index is available via Reuters and Bloomberg. Via Reuters: .dMIEU0EN00NUS. Via Bloomberg: NDRUENR. 05 February 2015. Change. Publication of the MSCI Europe Energy Index. The Fund's benchmark is the MSCI Europe Energy Index, denominated in USD, with an exchange value in euro, net dividends reinvested (net return). The MSCI Europe Energy Index is a "shares" index calculated and published by the international index provider MSCI Inc. ("MSCI"). The shares used in the composition of the MSCI Europe Energy Index are derived from the universe of European companies of the energy sector. The investment universe of the index MSCI Europe Energy is derived from the investment universe of the MSCI Europe index covering about 85% +/- 5% of any market capitalisation adjusted to the floating of the European markets. The MSCI Europe Energy Index is a sub-category of the MSCI Europe index. The MSCI Europe Energy Index retains the basic features of the MSCI indices, namely: a) belonging to the range of share indices termed "investable" by MSCI, segmented by size, style and type of industry; b) adjustment of the values included in the MSCI Europe Energy Index on the basis of the floating capital; c) a sectoral classification according to the GICS (Global Industry Classification Standard) classification. The MSCI methodology and its method of calculation involves a variable number of companies constituting the MSCI Europe Energy Index. As at 28/11/2014*, the MSCI Europe Energy Index held 22 securities of the 15 following European countries: Germany, Austria, Belgium, Denmark, Spain, Finland, France, Ireland,



Italy, Norway, Netherlands, Portugal, United Kingdom, Sweden and Switzerland. * Source: MSCI. The complete construction methodology of the MSCI Europe Energy Index is available on the MSCI website: mscibarra.com. The monitored performance is that of the closing prices of the MSCI Europe Energy Index. 05 February 2015. Addition. 4. Securities including derivatives: None. 4. Securities including derivatives: None. 05 February 2015. Addition. 7. Temporary acquisitions and transfers of securities: None. 7. Temporary acquisitions and transfers of securities: None. 05 February 2015. Change. 7. Temporary acquisitions and transfers of securities: None. Total liabilities on derivatives and embedded derivatives are limited to 110% of the assets. 05 February 2015. Change. Method of determining and allocating distributable sums: Method of determining and allocating distributable sums: 05 February 2015. Deletion. Listing and trading of the Fund's units in the secondary market: On 11 December 2012, the "Market maker" financial institution is: BNP Paribas Arbitrage partnership Registered office: 160-162 boulevard Mac Donald - 75019 Paris. "Market makers" undertake to maintain the market value of the Fund's units from the time of their listing on the place where the Fund is listed for trading. "Market makers" undertake in particular to perform animation operations ("market-making") by a permanent presence on the market, which is reflected through the provision of a bid and ask price range and sufficient liquidity. In particular, "Market maker" financial institutions having signed a market making agreement for the Fund are committed to Euronext Paris SA to meet the following requirements for the Fund: a maximum global spread of 2% between the sale price and the purchase price in the centralised order book and a minimum nominal amount for purchase and sale corresponding to the value in euro of 1200 Fund units. The obligations of "Market makers" will be suspended when the value of the MSCI Europe Energy Index is not available, or if one of its component values is suspended. Generally, the "Market makers" obligations will be suspended in case of anomaly or difficulty on the relevant stock market making it impossible to manage the market normally (e.g. disruptions in listing, etc.). "Market makers" are also required to ensure that the stock market price of the Fund's unit does not deviate by more than xxx% either side of the Indicative Net Asset Value (see "Indicative net asset value" section). The Management Company may request termination of trading in the Fund's units by "Market makers" when exceptional circumstances so require and when required by the interests of unit holders. 05 February 2015. Change. "Market makers" financial institutions: The secondary market is the market on which units already created in the Fund are exchanged. It encompasses all the stock exchanges (market enterprises) where the Fund is listed or will be admitted to continuous trading. Purchases and sales on the secondary market are not subject to any subscription or redemption fee. Orders to buy and sell units can be placed on the market where the Fund is listed (or will be listed) for trading with an authorized intermediary. Placing a market order is a cost generator over which the Management Company has no influence. There is no minimum purchase/sale on orders placed on the secondary market other than that imposed as necessary by the market place where the Fund's units are listed. The price of a unit traded on the secondary market is a function of supply and demand and roughly corresponds to the Indicative Net Asset Value (see "Indicative net asset value" section). Some "Market makers" (see "Market maker financial institutions" section) manage the secondary market by acting as a counterparty for the market. They are committed contractually with the market enterprises concerned to ensure a maximum spread between the best offer and the best supply. Their intervention ensures the liquidity of the Fund's units. In addition, by their trade-offs between the primary market and the secondary market, "Market makers" ensure that the Fund's Stock Exchange Price does not deviate significantly from its Indicative Net Asset Value. If the listing of the MSCI Europe Energy Index is interrupted or suspended, listing of the Fund is suspended simultaneously. Upon resumption of trading of the MSCI Europe Energy Benchmark Index, listing of the Fund is resumed and takes into account any change to the Fund’s Net Asset Value and the Indicative Net Asset value since the interruption. Units acquired on the secondary market may not, generally, be directly resold on the primary market. Bearers must buy and sell units on a secondary market with the assistance of an intermediary (e.g. a broker) and may bear the corresponding costs. In addition, holders may pay more than the current net asset value when they buy units, and may receive less than the current net asset value when they sell them. The Fund's units will be listed for



trading on Euronext Paris. The Management Company has the option to request that these units be listed on other stock exchanges. On Euronext Paris, the Fund's units will be traded on a segment of products dedicated to Trackers: NextTrack. 05 February 2015. Change. Place and conditions of publication or communication of the net asset value: The net asset value is calculated and published every day when the Euronext Paris place of listing is open or if one of the places on which the Fund is listed is open (including Borsa Italiana, Deutsche Börse, London Stock Exchange and SIX Swiss Exchange), provided the hedging of orders placed on the primary and secondary markets will be made possible. The net asset value of the Fund is available on request from the Management Company and the amundietf.com website. In addition to the days on which the net asset value is published, an Indicative Net Asset Value (see "Indicative net asset value" section) in euro will be published by Euronext Paris. 05 February 2015. Change. Indicative net asset value: On Euronext Paris, the "NAV" is published every 15 seconds throughout the trading session in Paris (from 9 a.m. to 5.35 p.m.). The "NAV" is published continuously on the Euronext Paris website (euronext.com) and by most financial information providers (Reuters, Bloomberg, among others). 05 February 2015. Deletion. Indicative net asset value: Reservation thresholds are set by applying a percentage change of xxx % either side of the "NAV" of the Fund's units, published by Euronext Paris SA, and updated as an estimate during the session depending on the variation of the MSCI Europe Energy Index. 05 February 2015. Change. V. INVESTMENT RULES. AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF (THE "FUND") IS IN NO WAY SPONSORED, ENDORSED, SOLD OR PROMOTED BY MSCI INC. ("MSCI"), OR BY ANY OF ITS SUBSIDIARIES, ITS SUPPLIERS OF INFORMATION, OR BY ANY OF THE ENTITIES INVOLVED IN THE ESTABLISHMENT, THE CALCULATION OR THE CREATION OF THE MSCI INDICES (JOINTLY "MSCI PARTIES"). THE MSCI INDICES ARE THE EXCLUSIVE PROPERTY OF MSCI AND ARE TRADEMARKS OF MSCI OR ITS AFFILIATES. THE MSCI INDICES HAVE BEEN SUBJECT TO A LICENCE GRANTED, FOR CERTAIN PURPOSES, TO AMUNDI. THE MSCI PARTIES MAKE NO RECOMMENDATION AND ISSUE NO WARRANTIES, EXPRESS OR IMPLIED, TO THE ISSUER OF THE FUND, OF THE HOLDERS OF SHARES OF THE FUND OR ANY THIRD PARTY, WHETHER A NATURAL PERSON OR LEGAL ENTITY, AS TO THE OPPORTUNITY OF AN INVESTMENT IN THE UNITS IN A MUTUAL FUND IN GENERAL, OR FUND UNITS IN PARTICULAR, OR THE ABILITY OF ANY MSCI INDEX TO REPLICATE THE PERFORMANCE OF THE CORRESPONDING STOCK MARKET. MSCI OR ITS AFFILIATES ARE HOLDERS OF CERTAIN NAMES AND TRADEMARKS AS WELL AS THE MSCI INDICES WHICH ARE DETERMINED, COMPOSED AND CALCULATED BY MSCI WITHOUT CONSULTATION WITH AMUNDI OR THE FUND, OR HOLDERS OF ITS UNITS, OR ANY THIRD PARTY, WHETHER NATURAL PERSON OR LEGAL ENTITY. THE MSCI PARTIES ARE NOT REQUIRED TO TAKE INTO ACCOUNT THE NEEDS OF AMUNDI, HOLDERS OF THE FUND'S UNITS, OR ANY THIRD PARTY, WHETHER NATURAL PERSON OR LEGAL ENTITY, FOR DETERMINING, COMPOSING OR CALCULATING THE MSCI INDICES. THE MSCI PARTIES ARE NOT RESPONSIBLE FOR AND DO NOT DETERMINE THE DATE OF LAUNCH, THE PRICE, OR THE AMOUNT OF THE FUND'S UNITS, OR EVEN THE CHOICE AND THE CALCULATION OF THE FORMULA FOR DETERMINING THE NAV OF THE FUND. THE MSCI PARTIES HAVE NO LIABILITY OR OBLIGATION TO THE ISSUER OF THE FUND, ITS UNIT HOLDERS OR ANY THIRD PARTY, WHETHER NATURAL PERSON OR LEGAL ENTITY, REGARDING THE FUND'S ADMINISTRATION, MANAGEMENT OR MARKETING ALTHOUGH MSCI OBTAINS INFORMATION INCORPORATED OR USED IN CALCULATING INDICES FROM SOURCES THAT MSCI CONSIDERS RELIABLE, THE MSCI PARTIES DO NOT GUARANTEE THE ORIGINALITY, ACCURACY AND/OR COMPREHENSIVE NATURE OF THE MSCI INDICES OR ANY DATA INCLUDED IN THESE INDICES. THE MSCI PARTIES GIVE NO WARRANTIES, EXPRESS OR IMPLIED, AS TO THE RESULTS THAT THE ISSUER OF THE FUND, HOLDERS OF ITS UNITS, OR ANY THIRD PARTY, WHETHER NATURAL PERSON OR LEGAL ENTITY, WILL ACHIEVE BY USING THE INDICES OR ANY DATA INCLUDED IN THESE INDICES. THE MSCI PARTIES DISCLAIM ANY RESPONSIBILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS RELATING TO ANY MSCI INDEX OR ANY INFORMATION THEY MIGHT INCLUDE. IN ADDITION THE MSCI PARTIES GIVE NO EXPRESS OR IMPLIED WARRANTIES AND DISCLAIM ANY WARRANTY ON THE MERCHANTABILITY OR SUITABILITY FOR A SPECIFIC USE OF INDICES OR ANY DATA INCLUDED IN THE LATTER. WITHOUT PREJUDICE TO THE



FOREGOING, UNDER NO CIRCUMSTANCES WILL THE MSCI PARTIES BE LIABLE FOR ANY DAMAGES, WHETHER DIRECT, CONSEQUENTIAL OR OTHERWISE (INCLUDING LOSS OF PROFITS AND INCOME) EVEN IF THE MSCI PARTIES HAD BEEN AWARE OF THE POSSIBILITY OF SUCH DAMAGE. 05 February 2015. Addition. V. INVESTMENT RULES. STOXX AND ITS LICENSORS DISCLAIM ANY LIABILITY RELATING TO THE AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF. MORE SPECIFICALLY, • STOXX AND ITS LICENSORS DO NOT PROVIDE OR ENSURE ANY WARRANTY, EXPRESS OR IMPLIED, WHATSOEVER REGARDING: • THE RESULTS TO BE OBTAINED BY AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF, HOLDERS OF UNITS IN AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF OR ANYONE INVOLVED IN THE USE OF THE MSCI EUROPE ENERGY® INDEX AND DATA INCLUDED IN THE MSCI EUROPE ENERGY®. • THE ACCURACY OR COMPLETENESS OF THE MSCI EUROPE ENERGY® INDEX AND THE DATA CONTAINED THEREIN; • THE NEGOTIABILITY OF THE MSCI EUROPE ENERGY® INDEX AND ITS DATA AS WELL AS THEIR SUITABILITY FOR A SPECIFIC USE OR FOR A PARTICULAR PURPOSE; • STOXX AND ITS LICENSORS CANNOT BE LIABLE FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS WHATSOEVER IN THE MSCI EUROPE ENERGY® INDEX OR THE DATA THAT IT CONTAINS. • UNDER NO CIRCUMSTANCES MAY STOXX OR ITS LICENSORS BE HELD LIABLE FOR ANY LOSS OF PROFITS WHATSOEVER. THE SAME APPLIES FOR ANY INDIRECT DAMAGE OR LOSS, EVEN IF STOXX AND ITS LICENSORS WERE ADVISED OF THE EXISTENCE OF SUCH RISKS. THE LICENCE AGREEMENT BETWEEN AMUNDI AND STOXX WAS ESTABLISHED IN THEIR SOLE INTEREST AND NOT IN THAT OF HOLDERS OF AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF OR OF THIRD PARTIES. 05 February 2015. Addition. V. INVESTMENT RULES. STOXX AND ITS LICENSORS HAVE NO OTHER LINK WITH THE LICENSEE THAN THE LICENCE WHICH WAS AWARDED FOR THE MSCI EUROPE ENERGY® INDEX AND ASSOCIATED TRADEMARKS FOR USE IN CONNECTION WITH THE AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF. STOXX AND ITS LICENSORS: MAKE NO REPRESENTATION OR WARRANTY AS TO THE APPROPRIATENESS OF A TRANSACTION ON THE AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF, WHICH THEY ALSO REFRAIN FROM SELLING AND PROMOTING. DO NOT ISSUE ANY INVESTMENT RECOMMENDATION TO ANYONE REGARDING THE AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF OR ANY OTHER SECURITY WHATSOEVER. ACCEPT NO LIABILITY OR OBLIGATION WITH RESPECT TO THE LAUNCH DATE, THE QUANTITY AND THE PRICE OF THE UNITS OF AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF, AND DO NOT MAKE ANY DECISION THEREUPON. ACCEPT NO LIABILITY OR OBLIGATION REGARDING THE ADMINISTRATION, MANAGEMENT OR MARKETING OF THE AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF. ARE NOT REQUIRED TO TAKE INTO ACCOUNT THE NEEDS OF THE AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF OR ITS UNIT HOLDERS IN DETERMINING, COMPOSING OR CALCULATING THE MSCI EUROPE ENERGY® INDEX. 05 February 2015. Change. Prospectus updated: 05 February 2015. Prospectus updated: 05 February 2015.



Specific details Voting rights In accordance with the Fund’s Rules and the Fund Manager’s stated policy, the Fund Manager exercises the voting rights attached to the securities held by the Fund and decides on contributions in the form of securities, except where the securities are those of the Fund Manager itself or of any associate company as defined in Art L. 444-3 of the French Labour Code (Code du Travail). Two documents, “Voting Policy” and “Report on the Exercise of Voting Rights”, prepared by the Fund Manager in compliance with the current regulations are available upon request. This mutual fund (OPC) has not been selected as one of the funds which currently exercise voting rights. Soft commissions The Fund Manager has received no “soft” commissions. Movement commission The Fund Manager has received no commissions on trade. Use of credit derivatives The Fund has not used credit derivatives during the period under consideration. Group funds Details of the financial instruments held by the Fund which are issued by the Fund Manager or its associates will be found in the Auditor’s Report for the latest financial period (enclosed herein) under the following headings of annuals accounts: • Further details. • Group financial instruments held by the Fund. Off-balance sheet commitments calculation Off-Balance Sheet commitments are calculated with a Commitment calculation method.



Regulatory informations The Broker Selection Policy draws up and implements a policy which enables it to comply with the Fund’s obligation under Art.314-75 (iv) while meeting the requirements set out in ArtL.533-18 of the French CMF. For each class of instrument, the policy selects the organizations that will be commissioned to execute orders. AMUNDI execution policy may be consulted on the AMUNDI website. Investment advice service The Fund Manager has not prepared a “Report on Brokerage Expenses” since it has not used any investment advice services. Information on environmental, social and governance quality criteria (ESG) Throughout its active management* Amundi, like the entire group, applies strict rules for the integration of extrafinancial criteria (ESG) that form the basis of its liability. Thus it: - excludes direct investment in companies involved in the manufacture or trade in antipersonnel mines and cluster munitions, in accordance with the Ottawa and Oslo Conventions - excludes firms that violate grossly and repeatedly one or more of the 10 principles of the Global Compact. Issuers falling under these two categories are rated G on Amundi's scale (scale from A to G, A being the best and G the worst). Further information on how to take Amundi's ESG criteria into account is available on its websit.

Annual Report on 06/30/15 16- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -


Certificate drafted by the Auditor on the annual accounts

AUDITOR’S REPORT FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2015 AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF Mutual Fund Governed by the Code monétaire et financier Fund Manager AMUNDI 91-93, boulevard Pasteur 75710 Paris Cedex 15 Dear Madam, dear Sir, We submit herewith our report for the financial period ended 31 MARCH 2015 on the following matters, as commissioned by the Fund Manager’s Board of Directors: − our audit on the annual accounts of the mutual fund AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF, as attached hereto; − the grounds for our opinion;

− the auditing checks and specific details required by law.

The annual accounts have been drawn up by the Fund Manager; it is our task to give an opinion on these accounts, based on our audit. 1. - OPINION ON THE ANNUAL ACCOUNTS We have carried out our audit according to the standards of professional practice applicable in France; those standards require the implementation of due diligence sufficient to give a reasonable assurance that the annual accounts in question contain no significant discrepancies. An audit involves checking, by sampling or other selective means, the evidence for the entries (amounts and other details) which appear in the annual accounts. It also involves assessing the accounting standards that have been followed, the significant estimates made, and the way in which the accounts as a whole have been presented. We reckon that the evidence we have gathered is appropriate and sufficient as a basis for our opinion. We hereby certify that the annual accounts have been reliably drafted and are in good order under French accounting rules and standards, and give a fair picture of the outcome of all transactions during the period recently ended, as well as of the mutual fund’s assets, liabilities and financial situation at the end of that period. 2. – GROUNDS FOR OUR OPINION In accordance with the requirements of article L. 823-9 of the French Commercial Code (Code de commerce) relating to the justification of our assessments, we bring to your attention that our assessments were conducted with regard to evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made. PwC: 63 rue de Villiers – 92208 Neuilly-sur-Seine Cedex – France Tel. + 33 1 56 57 58 59 – Fax. + 33 1 56 57 58 60 Public Joint-Stock company (SA); share capital €2 510 460 Siret No. 672 006 483 00362

AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF These assessments were made as part of our audit of the financial statements taken as a whole, and therefore contributed to the opinion we formed which is expressed in the first part of this report. 3. - CHECKS AND SPECIFIC DETAILS We have also made the specific checks required by law. We have no qualifications to add concerning the trustworthiness and consistency of the annual accounts with the information given in the Annual Report and in the documents submitted to unit holders concerning the financial situation and the annual accounts. Neuilly sur Seine, date of the electronic signature

Document authenticated by electronic signature The Auditor

PricewaterouseCoopers Audit

Benjamin Moïse

Annual Report on 06/30/15 19- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -


Annual accounts

Annual Report on 06/30/15 20- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

FIXED ASSETS, NET

06/30/15 06/30/14

DEPOSITS FINANCIAL INSTRUMENTS 10,092,575.50 38,953,804.04

Equities and similar securities 10,077,420.74 38,748,149.73Traded in a regulated market or equivalent 10,077,420.74 38,748,149.73Not traded in a regulated market or equivalent

Bonds and similar securities Traded in a regulated market or equivalent Not traded in a regulated market or equivalent

Credit instruments Traded in a regulated market or equivalent

Negotiable credit instruments (Notes) Other credit instruments

Not traded in a regulated market or equivalent Collective investment undertakings

General-purpose UCITS and alternative investment funds intended for non-professionals and equivalents in other countries

Other Funds intended for non-professionals and equivalents in other EUMember States

General-purpose professional funds and equivalents in other EU MemberStates and listed securitisation entities

Other professional investment funds and equivalents in other EU MemberStates and listed securitisation agencies

Other non-European entities

Temporary transactions in securities Credits for securities held under sell-back deals Credits for loaned securities Borrowed securities Securities sold under buy-back deals Other temporary transactions

Hedges 15,154.76 205,654.31Hedges in a regulated market or equivalent Other hedges 15,154.76 205,654.31

Other financial instruments RECEIVABLES 889,135.68 1,266,742.20

Forward currency transactions Other 889,135.68 1,266,742.20

FINANCIAL ACCOUNTS 320,048.20Cash and cash equivalents 320,048.20

TOTAL ASSETS 10,981,711.18 40,540,594.44

Balance Sheet on 06/30/15Portfolio : 730135 AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF

Balance sheet - asset in EUR


Annual Report on 06/30/15 21- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SHAREHOLDERS' FUNDS

06/30/15 06/30/14

32,317,115.398,381,711.70Capital

Allocation Report of distributed items (a) 2,021,160.35

Brought forward (a)

Allocation Report of distributed items on Net Income (a,b) 6,682,604.07-401,843.78

-73,607.1385,591.28Result (a,b)

38,926,112.3310,086,619.55Total net shareholders' funds

* Net Assets

FINANCIAL INSTRUMENTS

Transfers of financial instruments

Temporary transactions in securities

Sums owed for securities sold under buy-back deals

Sums owed for borrowed securities

Other temporary transactions

Hedges

Hedges in a regulated market or equivalent

Other hedges

PAYABLES 1,614,482.11895,090.92

Forward currency transactions

Other 1,614,482.11895,090.92

FINANCIAL ACCOUNTS 0.71

Short-term credit 0.71

Loans received

TOTAL LIABILITIES 40,540,594.4410,981,711.18

(a) Including adjusment(b) Decreased interim distribution paid during the business year

Balance Sheet Liabilities on 06/30/15Portfolio : 730135 AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF

Balance sheet - liabilities in EUR


Annual Report on 06/30/15 22- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

06/30/15 06/30/14

HEDGES

Contracts in regulated markets or similar

OTC contracts

Other commitments

OTHER OPERATIONS

Contracts in regulated markets or similar

OTC contracts

Performance swap

BNP-30-11-17 11,028,356.16 39,289,541.50

Other commitments

Off-balance sheet on 06/30/15Portfolio : 730135 AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF

Off balance sheet in EUR


Annual Report on 06/30/15 23- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

06/30/15

Revenues from financial operations

06/30/14

Revenues from deposits and financial accounts 0.19

75,629.50Revenues from equities and similar securities 11,024.16

Revenues from bonds and similar securities

Revenues from credit instruments

Revenues from temporary acquisition and disposal of securities

Revenues from hedges

Other financial revenues

75,629.50TOTAL (1) 11,024.35

Charges on financial operations

Charges on temporary acquisition and disposal of securities

Charges on hedges

0.17Charges on financial debts 0.20

Other financial charges

0.17TOTAL (2) 0.20

75,629.33NET INCOME FROM FINANCIAL OPERATIONS (1 - 2) 11,024.15

Other income (3)

45,241.48Management fees and depreciation provisions (4) 101,094.35

30,387.85NET INCOME OF THE BUSINESS YEAR (L.214-17-1) (1-2+3-4) -90,070.20

55,203.43Revenue adjustment (5) 16,463.07

Interim Distribution on Net Income paid during the business year (6)

NET PROFIT (1 - 2 + 3 - 4 + 5 + 6) 85,591.28 -73,607.13

Income Statement on 06/30/15Portfolio : 730135 AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF

Income statement in EUR


Annual Report on 06/30/15 24- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -


Notes to the annual accounts



Accounting rules and methods The annual financial statements are presented in the form stipulated by ANC Regulation 2014-1, which annuls CRC Regulation 2003-02 as amended. The regulation includes the new AIFM classification of mutual funds, but does not alter the applicable accounting standards or the methods for evaluating assets and liabilities. As indicated in the introductory note of the French accounting standards authority (ANC), the terminology and the distribution of the mutual fund heading under assets in the statement of financial position were amended as follows and can be detailed in the following way: • The sub-heading "UCITS and general-purpose investment funds intended for non-professionals and equivalents in other countries" corresponds to the former sub-heading "Coordinated European UCITS and general-purpose French UCITS". • The sub-heading "Other Funds for non-professionals and equivalents in other Member States of the European Union" corresponds to the former sub-heading "UCITS reserved for certain investors - venture capital funds - futures funds". • The sub-heading "General-purpose professional funds and equivalents in other Member States of the European Union and listed securitisation entities" corresponds to the former sub-heading "Investment funds and listed SPVs." • The sub-heading "Other professional funds and equivalents in other Member States of the European Union and unlisted securitisation entities" corresponds to the former sub-heading "Investment funds and unlisted SPVs." • The sub-heading "Other non-European entities" was introduced by Regulation 2014-01. General accounting principles apply, viz: - fair picture, comparability, ongoing business, - proper practice & trustworthiness, - prudence, - no unreported change in methods from one period to the next. Revenues from fixed-yield securities are recognized on the basis of interest actually received. Acquisitions and disposals of securities are recognized of costs. The accounting currency of the portfolio is the EURO. The accounting period reported on is 12 months. Asset valuation rules: Financial instruments are initially recognized at historic cost and carried on the Balance Sheet at their current value: this is their latest known market value or, in the absence of a market, is determined by any external means or by recourse to financial models. Differences between the securities’ current values determined as above and their original historic cost are recognized in the accounts as “differences on estimation”. Securities denominated in a currency other than that of the portfolio are valued in accordance with the above principle and then converted into the currency of the portfolio at the exchange rate obtained on the valuation date. Deposit: Deposits maturing in three months or sooner are valued according to the linear method.



Equities, bonds and other securities traded in a regulated market or equivalent: When calculating the NAV, the equities and other securities traded in a regulated market or equivalent are valued based on the day’s closing market price. Bonds and similar securities are valued at the closing price notified by various financial service providers. Interest accrued on bonds and similar securities is calculated up to the date of asset valuation. Equities, bonds and other securities not traded in a regulated market or equivalent: Securities not traded in a regulated market are valued by the Fund Manager using methods based on net equity and yield, taking into account the prices retained in significant recent transactions.. Negotiable credit instruments (Notes): Negotiable credit instruments which are not actively traded in significant amounts are actuarially valued on the basis of a reference rate as specified below, plus any enhancement to represent the issuer’s intrinsic characteristics: Notes maturing in one year’s time or less: euro interbank offered rate (Euribor); Notes maturing in more than one year’s time: the prevailing rate on medium-term interest-bearing Treasury notes (BTAN) or, for the longest Notes, on near-term fungible Treasury bonds (OAT). Negotiable credit instruments maturing in three months or sooner may be valued according to the linear method. French Treasury notes are valued using the market rate published daily by the Banque de France. UCITS held: UCITS units or shares are valued at the latest known NAV. Temporary transactions in securities: Securities held under sell-back deals are carried in Assets under “credits for securities held under sell-back deals” at the amount provided for in the contract, plus accrued interest receivable. Securities sold under buy-back deals are booked to the buying portfolio at their current value. The corresponding debt is booked to the selling portfolio at the value set in the contract plus accrued interest payable. Loaned securities are valued at their current value and carried in Assets under “credits for loaned securities” at their current value plus accrued interest receivable. Borrowed securities are carried in Assets under “borrowed securities” at the amount provided for in the contract, and in Liabilities under “debts for borrowed securities” at the amount provided for in the contract plus accrued interest payable. Hedges: Hedges traded in a regulated market or equivalent: Hedge instruments traded in regulated markets are valued at the day’s settlement price.



Hedges not trades in a regulated market or equivalent: Swaps: Rate swaps and/or forward currency transactions are valued at their market value according to the price calculated by discounting future interest streams at market interest (and/or exchange) rates. This price is adjusted for default risk. Index swaps are valued actuarially on the basis of a reference rate provided by the counterparty. Other swaps are valued at their market value or are estimated as specified by the Fund Manager. Off-Balance Sheet Commitments: Firm hedging contracts are stated among “Off-Balance Sheet Commitments” at their market value at the rate used in the portfolio. Conditional hedges are converted into their underlying equivalents. Swap commitments are stated at their nominal value or at an equivalent amount, where there is no nominal value. Management fees: Management fees are calculated on the nominal capital on each valuation. These fees are imputed to the fund’s Income Statement. Management fees are paid in full to the Fund Manager, which bears all the fund’s operating costs. The management fees do not include dealing costs. The percentage of nominal capital charged is 0.25% including taxes. Allocation of net profit: The net profit (loss) for the period is the total of interest, arrears, premiums, allotments and dividends, plus income on ready cash, minus management fees and financial dealing costs. Latent or realised capital gains or losses are not counted as revenue; nor are subscription/redemption fees. The amounts available for distribution are the net profit for the period, plus any sums brought forward, plus or minus the balance of any revenue adjustment accounts relating to the financial period in question. Gains and losses: The net realised gains (deducted from management fees and realised losses) from the financial year will increase the same type of net realized gains from earlier financial years, if the fund hasn’t distributed or accumulated its gains and will also increase or reduce the equalization accounts for realised gains. Appropriation methods for the distributable amounts:

Distributable amounts Unit C and/or D

Appropriation of the net income Accumulation and/or distribution and/or carry forward a decision taken by the management

Appropriation of the net realized gains and losses Accumulation and/or distribution and/or carry forward a decision taken by the management

Annual Report on 06/30/15 28- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

06/30/15

38,926,112.33NET ASSETS IN START OF PERIOD 23,043,840.51

06/30/14

21,622,030.40Subscriptions (including subscription fees received by the fund) 100,302,835.00

-44,958,583.00Redemptions (net of redemption fees received by the fund) -95,653,729.72

4,743,154.71Capital gains realised on deposits and financial instruments 13,634,521.22

-977,814.27Capital losses realised on deposits and financial instruments -2,260,804.68

76,804,896.36Capital gains realised on hedges 223,799,406.26

-84,205,224.86Capital losses realised on hedges -226,106,675.74

-3,537.66Dealing costs -394.79

22,744.36Exchange gains/losses 119,216.03

-1,727,047.12Changes in difference on estimation (deposits and financial instruments) 1,876,308.79

-487,727.04Difference on estimation, period N 1,239,320.08

-1,239,320.08Difference on estimation, period N-1 636,988.71

-190,499.55Changes in difference on estimation (hedges) 261,959.65

15,154.76Difference on estimation, period N 205,654.31

-205,654.31Difference on estimation, period N-1 56,305.34

Net Capital gains and losses Accumulated from Previous business year

Distribution on Net Capital Gains and Losses from previous business year

30,387.85Net profit for the period, before adjustment prepayments -90,070.20

Allocation Report of distributed items on Net Income

Interim Distribution on Net Income paid during the business year

Other items -300.00

NET ASSETS IN END OF PERIOD 10,086,619.55 38,926,112.33

Change in net assets on 06/30/15Portfolio : 730135 AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF

Changes in net asset in EUR




BREAKDOWN OF FINANCIAL INSTRUMENTS BY LEGAL OR COMMERCIAL TYPE

Amount %

ASSETS

BONDS AND SIMILAR SECURITIES

TOTAL BONDS AND SIMILAR SECURITIES

CREDIT INSTRUMENTS

TOTAL CREDIT INSTRUMENTS

LIABILITIES

TRANSACTIONS INVOLVING TRANSFER OF FINANCIAL INSTRUMENTS

TOTAL TRANSACTIONS INVOLVING TRANSFER OF FINANCIAL INSTRUMENTS

OFF-BALANCE SHEET

HEDGES

TOTAL HEDGES

OTHER OPERATIONS

Other 11,028,356.16 109.34

TOTAL OTHER OPERATIONS 11,028,356.16 109.34

BREAKDOWN OF ASSET, LIABILITY AND OFF-BALANCE SHEET ITEMS, BY TYPE

Fixed rate % Variable rate % Rate subject to

review % Other %

Assets

Deposits

Bonds and similar securities

Credit instruments


Financial accounts

Liabilities


Financial accounts 0.71

Off-balance sheet

Hedges

Other operations



BREAKDOWN OF ASSET, LIABILITY AND OFF-BALANCE SHEET ITEMS, BY TIME TO MATURITY

< 3 Months % ]3 Months -

1 Year] %

]1 - 3 Years]

% ]3 - 5 Years] % > 5 Years %

Assets

Deposits


Credit instruments


Financial accounts

Liabilities


Financial accounts 0.71

Off-balance sheet

Hedges

Other operations

All hedges are shown in terms of time to maturity of the underlying securities. BREAKDOWN OF ASSET, LIABILITY AND OFF-BALANCE SHEET ITEMS, BY LISTING OR EVALUATION CURRENCY

Currency 1

%

Currency 2

%

Currency 3

%

Currency N Others

currencies

%

Assets

Deposits

Equities and similar securities


Credit instruments

Mutual fund units


Liabilities

Financial accounts

Liabilities

Transactions involving transfer of financial instruments


Debts

Financial accounts

Off-balance sheet

Hedges

Other operations

Annual Report on 06/30/15 31- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

BREAKDOWN BY ITEMS OF RECEIVABLES AND PAYABLES

Sales deferred settlement 889,135.68

06/30/15Type

ReceivablesTotal receivables 889,135.68

Purchases deferred settlement - 889,135.68PayablesManagement fees - 5,955.24

Total of Payables - 895,090.92

Total payables and receivables - 5,955.24


Number of units issued or redeemed

Units subscribed during the period 105,600 21,622,030.40

Units in circulation at the end of the period 50,470

Units redeemed during the period -222,000 -44,958,583.00

Units Value

SHAREHOLDERS’ FUNDS

SUBSCRIPTION AND/OR REDEMPTION FEES

Total of subscription and/or redemption fees received

Total of subscription fees received

Total of redemption fees received

Value

MANAGEMENT FEES CHARGEABLE TO THE FUND

06/30/15

45,241.48Cost of functioning and management fees (fixed management fees)

Commission of performance (variable management fees)

Management fees rebated

0.25Percentage set for fixed management fees

Underwriting commission

Annual Report on 06/30/15 32- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

COMMITMENTS RECEIVED AND GIVEN06/30/15

Guarantees received by the fund

- including capital guarantees

Other commitments received

Other commitments given


Annual Report on 06/30/15 33- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Securities held under sell-back deals

Borrowed securities

06/30/15

Stock market values of pledged securities

Financial instruments pledged but not reclassified

Financial instruments received as pledges but not recognized in the Balance Sheet

06/30/15

Group financial instruments held by the Fund

06/30/15Name of securityIsin code

Equities

Bonds

Notes

UCITS

Hedges

Total group financial instruments

FUTHER DETAILS

Stock market values of temporarily acquired securities


Annual Report on 06/30/15 34- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

TABLE OF ALLOCATION OF THE DISTRIBUTABLE SHARE OF THE SUMS CONCERNED TOPROFIT (LOSS)

06/30/15 06/30/14

Sums not yet allocated

Brought forward

Profit (loss) 85,591.28 -73,607.13

Total 85,591.28 -73,607.13

Distribution

Brought forward 85,591.28

Allocation

Capitalized -73,607.13

Total 85,591.28 -73,607.13

06/30/15 06/30/14


Distribution

Allocation

Capitalized

Total 1,619,316.57 6,682,604.07

06/30/15 06/30/14

Sums not yet allocated

Net Capital gains and losses Accumulated from Previous business year 2,021,160.35

Total 1,619,316.57 6,682,604.07

Net Capital gains and losses of the business year -401,843.78 6,682,604.07

Allocation Report of distributed items on Net Capital Gains and Losses

06/30/15 06/30/14

Net capital gains and losses accumulated per share 1,619,316.57 6,682,604.07

TABLE OF ALLOCATION OF THE DISTRIBUTABLE SHARE OF THE SUMS CONCERNED TOCAPITAL GAINS AND LOSSES

Annual Report on 06/30/15 35- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

TABLE OF PROFIT (LOSS) ANS OTHER TYPICAL FEATURES OF THE FUND OVER THE PASTFIVE FINANCIAL PERIODS

06/30/11 06/29/12 06/28/13 06/30/14 06/30/15

25,625,153.87Net assets in EUR 46,436,274.94 23,043,840.51 38,926,112.33 10,086,619.55

142,201Number of shares/units 250,001 126,100 166,870 50,470

180.2000NAV per share/unit in EUR inEUR

185.7400 182.7400 233.2700 199.8537

Net capital gains and lossesaccumulated per share in EUR

40.04 32.08

-0.33Net income Accumulated pershare in EUR

-0.45 -0.47 -0.44

Unit brought forward in EUR onthe result

1.69


Annual Report on 06/30/15 36- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Equities and similar securities

Listed equities & similar securitieBELGIUM

ANHEUSER-BUSCH INBEV EUR 8,884 955,030.00 9.47TOTAL BELGIUM 955,030.00 9.47

Currency Quantity Market value %Name of security

FRANCEL'OREAL EUR 1,823 291,680.00 2.89LVMH (LOUIS VUITTON - MOET HENNESSY) EUR 1,800 282,870.00 2.80TOTAL EUR 3,005 130,927.85 1.30

TOTAL FRANCE 705,477.85 6.99

GERMANYALLIANZ SE EUR 6,545 914,336.50 9.06BASF SE EUR 5,280 416,169.60 4.13BAYER EUR 3,411 428,251.05 4.25DAIMLER AG EUR 5,514 450,162.96 4.46DEUTSCHE POST AG NAMEN EUR 16,723 438,226.22 4.34E.ON AG NOM. EUR 36,673 438,242.35 4.34LINDE AG EUR 2,309 392,299.10 3.89SIEMENS AG NAMEN EUR 10,406 940,182.10 9.33

TOTAL GERMANY 4,417,869.88 43.80

LUXEMBURGTENARIS SA EUR 9,884 119,398.72 1.18

TOTAL LUXEMBURG 119,398.72 1.18

NETHERLANDSAIRBUS GROUP EUR 7,357 428,177.40 4.25ASML HOLDING NV EUR 10,018 928,668.60 9.20ING GROEP EUR 29,306 434,021.86 4.30ROYAL PHILIPS EUR 20,622 470,594.04 4.67UNILEVER EUR 11,765 439,481.58 4.36

TOTAL NETHERLANDS 2,700,943.48 26.78

SPAINBANCO SANTANDER S.A. EUR 73,954 463,247.86 4.59INDUSTRIA DE DISENO TEXTIL EUR 9,657 281,549.84 2.79

TOTAL SPAIN 744,797.70 7.38

UNITED KINGDOMROYAL DUTCH SHELL EUR 17,103 433,903.11 4.30

TOTAL listed equities & similar securities traded in a regulatedmarket or equivalent 10,077,420.74 99.90

Total equities & similar securities 10,077,420.74 99.90

TOTAL UNITED KINGDOM 433,903.11 4.30

Portfolio listing of financial instruments in EUR


Annual Report on 06/30/15 37- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Hedges

Other hedgesOther swaps

BNP-30-11-17 EUR 11,028,356.16 15,154.76 0.15

Total other hedges 15,154.76 0.15

Total hedges 15,154.76 0.15

Total Other SWAPS 15,154.76 0.15

Currency Quantity Market value %Name of security

Receivables 889,135.68 8.82

Debts -895,090.92 -8.87

Financial accounts -0.71

Net assets 10,086,619.55 100.00

Portfolio listing of financial instruments in EUR


AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF 50,470 199.8537EUR

Amundi Anonymous Inc. 596 262 615 Euros. capital amount

Licensed by the French Market Regulator (AMF) as a portfolio management company reg N° GP 04000036

437 574 452 RCS Paris. Registered Office social: 90, boulevard Pasteur 75015 Paris France

Documents

AMUNDI ETF MSCI EUROPE ENERGY UCITS ETF · to 10% of its assets in the following: - Euro-denominated debt instruments and money-market instruments: Cash flow will be managed through