Descrição Qtd/MntNom VAquiUnit VAquiTot TpPrc PrcUnit Vl Merc Juros +/- Val VAqui MAct/Cot CmbMSel Valor Carteira Val

1 - Títulos de Rendimento Variável

26 810 825.54

19.32

1.1 - Europa

14 612 890.95

10.53

1.1.1 - Acções

8 420 356.07

6.07

1.1.1.1 - Acções Nacionais

2 938 811.34

2.12

4 650.00 7.57 35 215.01 P 0.2650 0.00 -33 982.76 EUR Martifer SGPS SA 0.69 0.00 -1 976.25 1 232.25 0.00 12100009847 - PTMFR0AM0003 0.00 1 232.25 2014-10-31 1.00000000 0.00 3 208.50 30 000.00 2.75 82 500.00 P 2.4730 0.00 -8 310.00 EUR REN SGPS SA 2.24 0.00 7 050.00 74 190.00 0.05 12100009899 - PTREL0AM0008 0.00 74 190.00 2014-10-31 1.00000000 0.00 67 140.00 4 500.00 0.50 2 271.06 P 0.2890 0.00 -970.56EUR Sonae Capital 0.33 0.00 -184.50 1 300.50 0.00 12100011995 - PTSNP0AE0008 0.00 1 300.50 2014-10-31 1.00000000 0.00 1 485.00 420.00 0.39 164.69 P 2.7100 0.00 973.51EUR F. Ramada Inv SGPS 1.38 0.00 558.60 1 138.20 0.00 12100013224 - PTFRV0AE0004 0.00 1 138.20 2014-10-31 1.00000000 0.00 579.60 7 825.00 1.34 10 495.99 P 0.7860 0.00 -4 345.54 EUR Teixeira Duarte SA 0.89 0.00 -813.80 6 150.45 0.00 12100019601 - PTTD10AM0000 0.00 6 150.45 2014-10-31 1.00000000 0.00 6 964.25 20 099.00 1.79 36 013.18 P 2.9660 0.00 23 600.45EUR Portucel SA 2.91 0.00 1 125.54 59 613.63 0.04 12121024802 - PTPTI0AM0006 0.00 59 613.63 2014-10-31 1.00000000 0.00 58 488.09 45 000.00 2.51 112 765.46 P 3.4310 0.00 41 629.54EUR EDP-Nom. 2.67 0.00 34 245.00 154 395.00 0.11 12140000102 - PTEDP0AM0009 0.00 154 395.00 2014-10-31 1.00000000 0.00 120 150.00 1 100 000.00 0.16 180 310.83 P 0.0900 0.00 -81 310.83 EUR BCP-NO 0.10 0.00 -13 060.00 99 000.00 0.07 12165003502 - PTBCP0AM0007 0.00 99 000.00 2014-10-31 1.00000000 0.00 112 060.00 84 194.00 1.11 93 424.51 I 0.0000 0.00 -93 424.51 EUR BESCL 0.93 0.00 -78 120.03 0.00 0.00 12165007802 - PTBES0AM0007 0.00 0.00 1.00000000 0.00 78 120.03 49 500.00 1.81 89 624.48 P 1.5610 0.00 -12 354.98 EUR BPI SGPS -NoPr 1.22 0.00 17 077.50 77 269.50 0.06 12165096902 - PTBPI0AM0004 0.00 77 269.50 2014-10-31 1.00000000 0.00 60 192.00 60 000.00 0.90 54 112.06 P 1.0690 0.00 10 027.94EUR SONAE 1.05 0.00 1 200.00 64 140.00 0.05 12174009201 - PTSON0AM0001 0.00 64 140.00 2014-10-31 1.00000000 0.00 62 940.00 6 000.00 1.90 11 403.09 P 4.1800 0.00 13 676.91EUR Mota Engil SGPS 3.92 0.00 1 571.24 25 080.00 0.02 12174256001 - PTMEN0AE0005 0.00 25 080.00 2014-10-31 1.00000000 0.00 23 508.76 13 000.00 2.47 32 143.28 P 6.9790 0.00 58 583.72EUR Jer.Martins-SGPS 14.22 0.00 -94 068.00 90 727.00 0.07 12174258701 - PTJMT0AE0001 0.00 90 727.00 2014-10-31 1.00000000 0.00 184 795.00 7 000.00 2.90 20 322.50 P 9.6490 0.00 47 220.50EUR Semapa - Nominativas 8.14 0.00 10 542.00 67 543.00 0.05 12174263002 - PTSEM0AM0004 0.00 67 543.00 2014-10-31 1.00000000 0.00 57 001.00

15 189.00 7.73 117 352.15 P 4.5730 0.00 -47 892.85 EUR NOS SGPS 5.40 0.00 -12 561.30 69 459.30 0.05 12174274202 - PTZON0AM0006 0.00 69 459.30 2014-10-31 1.00000000 0.00 82 020.60 12 000.00 6.88 82 609.01 P 11.5650 0.00 56 170.99EUR Galp Energia 11.92 0.00 -4 200.00 138 780.00 0.10 12174325202 - PTGAL0AM0009 0.00 138 780.00 2014-10-31 1.00000000 0.00 142 980.00 5 000.00 1.23 6 167.22 P 1.0000 0.00 -1 167.22 EUR IMPRESA 1.09 0.00 -450.00 5 000.00 0.00 12174332302 - PTIPR0AM0000 0.00 5 000.00 2014-10-31 1.00000000 0.00 5 450.00 25 000.00 5.88 147 012.28 P 1.3070 0.00 -114 337.28 EUR Portugal Telecom 3.16 0.00 -46 325.00 32 675.00 0.02 12174334602 - PTPTC0AM0009 0.00 32 675.00 2014-10-31 1.00000000 0.00 79 000.00 3 360.00 0.20 658.76 P 2.2310 0.00 6 837.40EUR ALTRI SGPS SA 2.24 0.00 -30.24 7 496.16 0.01 12174340501 - PTALT0AE0002 0.00 7 496.16 2014-10-31 1.00000000 0.00 7 526.40 2 440.00 0.57 1 387.55 P 0.1800 0.00 -948.35EUR Sonae Indústria SGPS 0.56 0.00 -934.52 439.20 0.00 12174340701 - PTS3P0AM0017 0.00 439.20 2014-10-31 1.00000000 0.00 1 373.72 10 000.00 5.52 55 200.00 P 7.3900 0.00 18 700.00EUR CTT CORREIOS PORT 5.59 0.00 18 000.00 73 900.00 0.05 12199990002 - PTCTT0AM0001 0.00 73 900.00 2014-10-31 1.00000000 0.00 55 900.00 6 000.00 0.20 1 178.32 P 0.4320 0.00 1 413.47EUR

Mota Engil Dtos Afri

0.40 0.00 162.55 2 591.79 0.00 12674256001 - PTMEN0AEI001 0.00 2 591.79 2014-10-31 1.00000000 0.00 2 429.24 2 193 826.00 0.97 2 132 652.12 P 0.8600 0.00 -245 961.76 EUR

Fundo Particip CEMG

0.97 0.00 -230 351.73 1 886 690.36 1.36 14165099914 - PTCMHUIM0015 0.00 1 886 690.36 2014-10-31 1.00000000 0.00 2 117 042.09

1.1.1.2 - Acções Zona Euro

5 056 475.30

3.64

13 000.00 7.40 96 201.68 P 5.1840 0.00 -28 809.68 EUR EDP Renováveis SA 3.86 0.00 17 199.00 67 392.00 0.05 12100012865 - ES0127797019 0.00 67 392.00 2014-10-31 1.00000000 0.00 50 193.00 4 500.00 32.46 146 074.35 P 47.4200 0.00 67 315.65EUR TOTAL SA 44.53 0.00 13 005.00 213 390.00 0.15 92199990008 - FR0000120271 0.00 213 390.00 2014-10-31 1.00000000 0.00 200 385.00 1 500.00 49.02 73 523.76 P 89.9100 0.00 61 341.24EUR SIEMENS AG 99.29 0.00 -14 070.00 134 865.00 0.10 92199990011 - DE0007236101 0.00 134 865.00 2014-10-31 1.00000000 0.00 148 935.00 3 100.00 3.97 12 313.10 P 6.6600 0.00 8 332.90EUR NOKIA OYJ 5.82 0.00 2 604.00 20 646.00 0.01 92199990012 - FI0009000681 0.00 20 646.00 2014-10-31 1.00000000 0.00 18 042.00 10 000.00 8.91 89 087.50 P 11.4100 0.00 25 012.50EUR ING GROEP N.V. 10.10 0.00 13 100.00 114 100.00 0.08 92199990013 - NL0000303600 0.00 114 100.00 2014-10-31 1.00000000 0.00 101 000.00 3 000.00 49.77 149 304.44 P 50.1400 0.00 1 115.56EUR

BANQUE NATION. PARIS

56.65 0.00 -19 530.00 150 420.00 0.11 92199990015 - FR0000131104 0.00 150 420.00 2014-10-31 1.00000000 0.00 169 950.00 2 769.00 8.69 24 049.46 P 13.3400 0.00 12 889.00EUR AHOLD NV 14.14 0.00 -2 211.54 36 938.46 0.03 92199990017 - NL0010672325 0.00 36 938.46 2014-10-31 1.00000000 0.00 39 150.00

13 000.00 8.91 115 818.19 P 8.9080 0.00 -14.19EUR BBVA 8.95 0.00 -520.00 115 804.00 0.08 92199990018 - ES0113211835 0.00 115 804.00 2014-10-31 1.00000000 0.00 116 324.00 2 000.00 14.38 28 760.35 P 17.8150 0.00 6 869.65EUR REPSOL SA 18.32 0.00 -1 010.00 35 630.00 0.03 92199990020 - ES0173516115 0.00 35 630.00 2014-10-31 1.00000000 0.00 36 640.00 1 000.00 33.00 33 000.70 P 85.3200 0.00 52 319.30EUR BMW AG 85.22 0.00 100.00 85 320.00 0.06 92199990022 - DE0005190003 0.00 85 320.00 2014-10-31 1.00000000 0.00 85 220.00 3 000.00 31.35 94 063.78 P 54.2400 0.00 68 656.22EUR SAP SE 62.31 0.00 -24 210.00 162 720.00 0.12 92199990023 - DE0007164600 0.00 162 720.00 2014-10-31 1.00000000 0.00 186 930.00 4 000.00 15.84 63 344.66 P 30.9450 0.00 60 435.34EUR UNILEVER NV-CVA 29.28 0.00 6 680.00 123 780.00 0.09 92199990026 - NL0000009355 0.00 123 780.00 2014-10-31 1.00000000 0.00 117 100.00 3 603.00 19.65 70 793.03 P 70.2400 0.00 182 281.69EUR BASF SE 77.49 0.00 -26 121.75 253 074.72 0.18 92199990028 - DE000BASF111 0.00 253 074.72 2014-10-31 1.00000000 0.00 279 196.47 2 000.00 10.26 20 517.96 P 6.5750 0.00 -7 367.96 EUR

STORA ENSO OYJ

7.30 0.00 -1 440.00 13 150.00 0.01 92199990029 - FI0009005961 0.00 13 150.00 2014-10-31 1.00000000 0.00 14 590.00 2 000.00 40.69 81 389.87 P 23.3700 0.00 -34 649.87 EUR CARREFOUR SA 28.81 0.00 -10 880.00 46 740.00 0.03 92199990031 - FR0000120172 0.00 46 740.00 2014-10-31 1.00000000 0.00 57 620.00 2 000.00 25.50 51 000.79 P 113.4500 0.00 175 899.21EUR BAYER AG 101.95 0.00 23 000.00 226 900.00 0.16 92199990032 - DE000BAY0017 0.00 226 900.00 2014-10-31 1.00000000 0.00 203 900.00 1 500.00 32.91 49 368.11 P 62.0300 0.00 43 676.89EUR DAIMLER AG 62.90 0.00 -1 305.00 93 045.00 0.07 92199990034 - DE0007100000 0.00 93 045.00 2014-10-31 1.00000000 0.00 94 350.00 3 000.00 54.14 162 430.36 P 73.6600 0.00 58 549.64EUR SANOFI 77.12 0.00 -10 380.00 220 980.00 0.16 92199990036 - FR0000120578 0.00 220 980.00 2014-10-31 1.00000000 0.00 231 360.00 1 300.00 97.64 126 935.48 P 126.7000 0.00 37 774.52EUR ALLIANZ SE-REG 130.35 0.00 -4 745.00 164 710.00 0.12 92199990039 - DE0008404005 0.00 164 710.00 2014-10-31 1.00000000 0.00 169 455.00 6 000.00 22.26 133 555.66 P 12.7150 0.00 -57 265.66 EUR ORANGE 9.00 0.00 22 290.00 76 290.00 0.05 92199990040 - FR0000133308 0.00 76 290.00 2014-10-31 1.00000000 0.00 54 000.00 6 648.00 8.13 54 030.35 P 6.4940 0.00 -10 858.24 EUR AEGON NV 6.86 0.00 -2 446.47 43 172.11 0.03 92199990042 - NL0000303709 0.00 43 172.11 2014-10-31 1.00000000 0.00 45 618.58 5 000.00 14.03 70 155.53 P 18.4100 0.00 21 894.47EUR AXA 20.21 0.00 -9 000.00 92 050.00 0.07 92199990044 - FR0000120628 0.00 92 050.00 2014-10-31 1.00000000 0.00 101 050.00 3 580.00 43.51 155 769.87 P 24.8800 0.00 -66 699.47 EUR DEUTSCHE BANK AG 32.03 0.00 -25 582.52 89 070.40 0.06 92199990046 - DE0005140008 0.00 89 070.40 2014-10-31 1.00000000 0.00 114 652.92 3 000.00 17.55 52 662.09 P 16.3400 0.00 -3 642.09 EUR ASSICURA GENERALI 17.10 0.00 -2 280.00 49 020.00 0.04 92199990051 - IT0000062072 0.00 49 020.00 2014-10-31 1.00000000 0.00 51 300.00

1 000.00 61.53 61 528.85 P 125.1000 0.00 63 571.15EUR LOREAL 127.70 0.00 -2 600.00 125 100.00 0.09 92199990054 - FR0000120321 0.00 125 100.00 2014-10-31 1.00000000 0.00 127 700.00 500.00 88.24 44 122.46 P 156.8500 0.00 34 302.54EUR MUENCHENER RUECKVER 160.15 0.00 -1 650.00 78 425.00 0.06 92199990057 - DE0008430026 0.00 78 425.00 2014-10-31 1.00000000 0.00 80 075.00 400.00 66.14 26 454.14 P 153.9500 0.00 35 125.86EUR KERING 153.65 0.00 120.00 61 580.00 0.04 92199990058 - FR0000121485 0.00 61 580.00 2014-10-31 1.00000000 0.00 61 460.00 2 000.00 40.82 81 636.88 P 38.4150 0.00 -4 806.88 EUR SOCIETE GENERALE-A 42.22 0.00 -7 610.00 76 830.00 0.06 92199990061 - FR0000130809 0.00 76 830.00 2014-10-31 1.00000000 0.00 84 440.00 14 000.00 9.35 130 867.86 P 5.7600 0.00 -50 227.86 EUR UNICREDITO IT (ITAL) 5.38 0.00 5 320.00 80 640.00 0.06 92199990062 - IT0004781412 0.00 80 640.00 2014-10-31 1.00000000 0.00 75 320.00 6 189.00 2.89 17 889.93 P 2.6170 0.00 -1 693.32 EUR KPN NV 2.34 0.00 1 695.78 16 196.61 0.01 92199990070 - NL0000009082 0.00 16 196.61 2014-10-31 1.00000000 0.00 14 500.83 800.00 45.17 36 136.09 P 55.3100 0.00 8 111.91EUR LAFARGE 54.47 0.00 672.00 44 248.00 0.03 92199990074 - FR0000120537 0.00 44 248.00 2014-10-31 1.00000000 0.00 43 576.00 4 000.00 15.79 63 163.15 P 13.7300 0.00 -8 243.15 EUR E.ON SE 13.42 0.00 1 260.00 54 920.00 0.04 92199990081 - DE000ENAG999 0.00 54 920.00 2014-10-31 1.00000000 0.00 53 660.00 7 944.00 13.32 105 791.66 P 12.0200 0.00 -10 304.78 EUR DEUTSCHE TELEKOM AG 12.43 0.00 -3 257.04 95 486.88 0.07 92199990083 - DE0005557508 0.00 95 486.88 2014-10-31 1.00000000 0.00 98 743.92 3 000.00 18.59 55 780.39 P 22.2900 0.00 11 089.61EUR KONINKL. PHILIPS NV 26.65 0.00 -13 065.00 66 870.00 0.05 92199990101 - NL0000009538 0.00 66 870.00 2014-10-31 1.00000000 0.00 79 935.00 2 000.00 16.42 32 843.12 P 19.4750 0.00 6 106.88EUR VIVENDI 19.16 0.00 640.00 38 950.00 0.03 92199990105 - FR0000127771 0.00 38 950.00 2014-10-31 1.00000000 0.00 38 310.00 27 273.00 3.24 88 238.39 P 2.6540 0.00 -15 855.85 EUR

VODAFONE Cot. EUR

5.20 0.00 -69 367.46 72 382.54 0.05 92199990106 - GB00BH4HKS39 0.00 72 382.54 2014-10-31 1.00000000 0.00 141 750.00 500.00 104.24 52 119.47 P 169.7000 0.00 32 730.53EUR Volkswagen Ag 196.90 0.00 -13 600.00 84 850.00 0.06 92199990107 - DE0007664005 0.00 84 850.00 2014-10-31 1.00000000 0.00 98 450.00 7 000.00 14.18 99 280.21 P 17.0000 0.00 19 719.79EUR ENI SPA 17.49 0.00 -3 430.00 119 000.00 0.09 92199990111 - IT0003132476 0.00 119 000.00 2014-10-31 1.00000000 0.00 122 430.00 20 000.00 4.69 93 840.46 P 4.0700 0.00 -12 440.46 EUR ENEL SPA - 2001 3.17 0.00 17 920.00 81 400.00 0.06 92199990112 - IT0003128367 0.00 81 400.00 2014-10-31 1.00000000 0.00 63 480.00 1 000.00 53.24 53 241.78 P 135.3500 0.00 82 108.22EUR LVMH MOET HEN. SA 132.60 0.00 2 750.00 135 350.00 0.10 92199990113 - FR0000121014 0.00 135 350.00 2014-10-31 1.00000000 0.00 132 600.00 8 000.00 9.83 78 623.17 P 11.9950 0.00 17 336.83EUR Telefonica 11.84 0.00 1 280.00 95 960.00 0.07 92199990117 - ES0178430E18 0.00 95 960.00 2014-10-31 1.00000000 0.00 94 680.00

25 000.00 5.79 144 830.15 P 7.0280 0.00 30 869.85EUR BSCH - Espanha 6.51 0.00 13 050.00 175 700.00 0.13 92199990119 - ES0113900J37 0.00 175 700.00 2014-10-31 1.00000000 0.00 162 650.00 1 000.00 30.67 30 670.07 P 28.2600 0.00 -2 410.07 EUR RWE AG 26.61 0.00 1 655.00 28 260.00 0.02 92199990124 - DE0007037129 0.00 28 260.00 2014-10-31 1.00000000 0.00 26 605.00 500.00 55.15 27 577.34 P 65.3300 0.00 5 087.66EUR PORSCHE AUT H-PRF 75.66 0.00 -5 165.00 32 665.00 0.02 92199990125 - DE000PAH0038 0.00 32 665.00 2014-10-31 1.00000000 0.00 37 830.00 40 247.00 2.37 95 205.91 P 0.9025 0.00 -58 882.99 EUR

TELECOM ITALIA SPA

0.72 0.00 7 304.83 36 322.92 0.03 92199990129 - IT0003497168 0.00 36 322.92 2014-10-31 1.00000000 0.00 29 018.09 292.00 24.52 7 160.94 P 30.1100 0.00 1 631.18EUR BELGACOM SA 21.51 0.00 2 512.66 8 792.12 0.01 92199990133 - BE0003810273 0.00 8 792.12 2014-10-31 1.00000000 0.00 6 279.46 9 000.00 4.98 44 860.56 P 5.6410 0.00 5 908.44EUR IBERDROLA SA 4.64 0.00 9 054.00 50 769.00 0.04 92199990135 - ES0144580Y14 0.00 50 769.00 2014-10-31 1.00000000 0.00 41 715.00 2 000.00 16.12 32 234.94 P 11.7950 0.00 -8 644.94 EUR CREDIT AGRICOLE SA 9.31 0.00 4 980.00 23 590.00 0.02 92199990139 - FR0000045072 0.00 23 590.00 2014-10-31 1.00000000 0.00 18 610.00 3 000.00 15.81 47 423.50 P 19.3550 0.00 10 641.50EUR GDF SUEZ 17.10 0.00 6 780.00 58 065.00 0.04 92199990192 - FR0010208488 0.00 58 065.00 2014-10-31 1.00000000 0.00 51 285.00 1 000.00 52.65 52 651.93 P 59.2300 0.00 6 578.07EUR RENAULT SA 58.45 0.00 780.00 59 230.00 0.04 92199990195 - FR0000131906 0.00 59 230.00 2014-10-31 1.00000000 0.00 58 450.00 7 017.00 18.50 129 846.00 P 28.4900 0.00 70 068.33EUR

Royal D. Shell A EUR

25.91 0.00 18 138.94 199 914.33 0.14 92199990196 - GB00B03MLX29 0.00 199 914.33 2014-10-31 1.00000000 0.00 181 775.39 872.00 38.94 33 953.69 P 23.5500 0.00 -13 418.09 EUR Electricite de Franc 25.69 0.00 -1 861.72 20 535.60 0.01 92199990205 - FR0010242511 0.00 20 535.60 2014-10-31 1.00000000 0.00 22 397.32 30 000.00 2.90 86 988.04 P 2.3380 0.00 -16 848.04 EUR INTESA SANPAOLO 1.79 0.00 16 320.00 70 140.00 0.05 92199990224 - IT0000072618 0.00 70 140.00 2014-10-31 1.00000000 0.00 53 820.00 650.00 39.43 25 632.40 P 62.8800 0.00 15 239.60EUR SCHNEIDER ELECTRIC 63.40 0.00 -338.00 40 872.00 0.03 92199990410 - FR0000121972 0.00 40 872.00 2014-10-31 1.00000000 0.00 41 210.00 5 000.00 5.80 29 015.31 P 22.4150 0.00 83 059.69EUR INDITEX 23.96 0.00 -7 725.00 112 075.00 0.08 92199990433 - ES0148396007 0.00 112 075.00 2014-10-31 1.00000000 0.00 119 800.00 1 269.00 5.69 7 217.24 P 13.4300 0.00 9 825.43EUR SUEZ ENVIRONMENT SA 13.03 0.00 513.94 17 042.67 0.01 92199990436 - FR0010613471 0.00 17 042.67 2014-10-31 1.00000000 0.00 16 528.73 800.00 49.19 39 353.62 P 27.7600 0.00 -17 145.62 EUR ALSTOM 26.48 0.00 1 028.00 22 208.00 0.02 92199990444 - FR0010220475 0.00 22 208.00 2014-10-31 1.00000000 0.00 21 180.00 3 000.00 26.94 80 816.48 P 10.4400 0.00 -49 496.48 EUR ArcelorMittal 12.97 0.00 -7 590.00 31 320.00 0.02 92199990457 - LU0323134006 0.00 31 320.00 2014-10-31 1.00000000 0.00 38 910.00

825.00 36.18 29 846.68 P 88.1100 0.00 42 844.07EUR ANHEUSER-BUSCH INBEV 77.26 0.00 8 951.25 72 690.75 0.05 92199990480 - BE0003793107 0.00 72 690.75 2014-10-31 1.00000000 0.00 63 739.50 167.00 26.94 4 498.78 P 22.9250 0.00 -670.30EUR APERAM - W/I 13.43 0.00 1 586.50 3 828.48 0.00 92199990515 - LU0569974404 0.00 3 828.48 2014-10-31 1.00000000 0.00 2 241.98 163.00 51.38 8 374.44 P 54.3200 0.00 479.72EUR Heidelbergcement AG 55.15 0.00 -135.29 8 854.16 0.01 92199990521 - DE0006047004 0.00 8 854.16 2014-10-31 1.00000000 0.00 8 989.45 2 332.00 3.40 7 928.80 P 5.0640 0.00 3 880.45EUR DISTRIBUIDORA INTERN 6.50 0.00 -3 348.75 11 809.25 0.01 92199990541 - ES0126775032 0.00 11 809.25 2014-10-31 1.00000000 0.00 15 158.00 50.00 66.14 3 306.77 P 33.4500 0.00 -1 634.27 EUR Groupe FNAC 23.84 0.00 480.50 1 672.50 0.00 92199990657 - FR0011476928 0.00 1 672.50 2014-10-31 1.00000000 0.00 1 192.00 455.00 49.02 22 302.21 P 27.9600 0.00 -9 580.41 EUR OSRAM LICHT AG 41.00 0.00 -5 933.20 12 721.80 0.01 92199990702 - DE000LED4000 0.00 12 721.80 2014-10-31 1.00000000 0.00 18 655.00

1.1.1.3 - Fora Zona Euro

425 069.43

0.31

8 000.00 47.71 381 663.44 P 87.0000 0.00 314 336.56SEK ERICSSON LM-B SHS 78.50 0.00 68 000.00 75 110.08 0.05 92199990019 - SE0000108656 0.00 696 000.00 2014-10-31 0.10791677 0.00 628 000.00 4 000.00 10.57 42 280.37 P 14.1750 0.00 14 419.63GBP GLAXO SMITHKLINE PLC 16.12 0.00 -7 760.00 72 298.37 0.05 92199990064 - GB0009252882 0.00 56 700.00 2014-10-31 1.27510360 0.00 64 460.00 3 000.00 29.16 87 488.60 P 70.4000 0.00 123 711.40CHF NESTLE SA 65.30 0.00 15 300.00 175 022.79 0.13 92199990128 - CH0038863350 0.00 211 200.00 2014-10-31 0.82870639 0.00 195 900.00 2 000.00 13.34 26 676.32 P 29.7150 0.00 32 753.68GBP RIO TINTO PLC 34.10 0.00 -8 760.00 75 779.41 0.05 92199990204 - GB0007188757 0.00 59 430.00 2014-10-31 1.27510360 0.00 68 190.00 1 600.00 24.91 39 856.53 P 13.1650 0.00 -18 792.53 GBP ANGLO AMERICAN PLC 13.20 0.00 -56.00 26 858.78 0.02 92199990225 - GB00B1XZS820 0.00 21 064.00 2014-10-31 1.27510360 0.00 21 120.00

1.1.2 - Fundos de Investimento de Acções

2 040 667.54

1.47

1.1.2.1 - Unidades de Participação - Acções

2 040 667.54

1.47

12 645.00 72.50 916 735.95 P 67.5276 87 690.55 -62 849.45 EUR

Montepio Euro Telcos

72.50 87 690.55 -62 849.45 941 577.05 0.68 141650999993 - PTYMGLLM0008 0.00 853 886.50 2014-10-31 1.00000000 0.00 916 735.95 12 645.00 72.40 915 523.29 P 70.3051 82 114.10 -26 515.30 EUR Montepio E Utilities 72.40 82 114.10 -26 515.30 971 122.09 0.70 141650999994 - PTYMGMLM0007 0.00 889 007.99 2014-10-31 1.00000000 0.00 915 523.29 14.00 19957.34 279 402.72 P 9140.6000 0.00 -151 434.32 EUR Explorer III-CapRisc 13521.58 0.00 -61 333.72 127 968.40 0.09 94199990209 0.00 127 968.40 2014-10-31 1.00000000 0.00 189 302.12

1.1.4.2 - Acções Não Cotadas

4 151 867.34

2.99

45.46 52656.80 2 393 672.84 P 91334.1400 0.00 1 758 194.50 EUR NovEnergia II 86796.81 0.00 206 257.95 4 151 867.34 2.99 92199990258 - LU0296922973 0.00 4 151 867.34 2014-10-31 1.00000000 0.00 3 945 609.39

1.2 - Fora da Europa

12 197 934.59

8.79

1.2.1 - Acções

52 709.20

0.04

1 315.00 0.00 0.00 P 50.2000 0.00 66 013.00USD

VERIZON COM INC-XLON

0.00 0.00 66 013.00 52 709.20 0.04 92199990718 - US92343V1044 0.00 66 013.00 2014-10-31 0.79846694 0.00 0.00

1.2.2 - Fundos de Investimento de Acções

12 145 225.39

8.75

1.2.2.1 - EUA

8 962 977.15

6.46

1.2.2.1.1 - Merrill Lynch/BGF

6 812 937.15

4.91

79 979.00 51.65 4 130 758.56 P 50.9700 0.00 -54 228.93 EUR

BGF US BASIC VAL A2H

51.65 0.00 -54 228.93 4 076 529.63 2.94 94199990213 - LU0200685153 0.00 4 076 529.63 2014-10-31 1.00000000 0.00 4 130 758.56 160 776.00 16.78 2 698 415.78 P 17.0200 0.00 37 991.74EUR BGF US FLEXIBLE A2H 16.78 0.00 37 991.74 2 736 407.52 1.97 94199990214 - LU0200684693 0.00 2 736 407.52 2014-10-31 1.00000000 0.00 2 698 415.78

1.2.2.1.2 - Morgan Stanley

2 150 040.00

1.55

35 834.00 58.46 2 094 855.64 P 60.0000 0.00 55 184.36EUR MS US ADVANT ZH 58.46 0.00 55 184.36 2 150 040.00 1.55 94199990215 - LU0360484769 0.00 2 150 040.00 2014-10-31 1.00000000 0.00 2 094 855.64

1.2.2.3 - Mercados Emergentes

3 182 248.24

2.29

1.2.2.3.1 - Globais

250 651.32

0.18

5 421.00 44.63 241 957.66 I 46.2371 0.00 8 693.66EUR

Multi Gestã Emergent

44.63 0.00 8 693.66 250 651.32 0.18 141650999995 - PTYMGNLM0006 0.00 250 651.32 1.00000000 0.00 241 957.66

1.2.2.3.2 - América Latina

779 181.01

0.56

19 534.00 27.38 534 743.25 P 23.2780 0.00 -80 030.80 USD HSBC Brazil $ 27.38 0.00 -80 030.80 363 072.86 0.26 94199990063 - LU0196696701 0.00 454 712.45 2014-10-31 0.79846694 0.00 534 743.25 5 302.00 76.84 407 411.67 P 71.6800 0.00 -27 364.31 USD BGF Latin American $ 76.84 0.00 -27 364.31 303 455.25 0.22 94199990069 - LU0072463663 0.00 380 047.36 2014-10-31 0.79846694 0.00 407 411.67 1 279.00 121.48 155 372.92 P 110.3100 0.00 -14 286.43 USD PARVEST EQ BRA$ 121.48 0.00 -14 286.43 112 652.90 0.08 94199990199 - LU0265266980 0.00 141 086.49 2014-10-31 0.79846694 0.00 155 372.92

1.2.2.3.3 - Ásia

2 152 415.91

1.55

31 335.00 74.01 2 318 946.68 P 77.5670 0.00 111 615.27USD HSBC Chinese $ 74.01 0.00 111 615.27 1 940 723.37 1.40 94199990045 - LU0039217434 0.00 2 430 561.95 2014-10-31 0.79846694 0.00 2 318 946.68 12 358.00 17.02 210 333.16 P 17.1300 0.00 1 359.38EUR

HSBC ASIA EXJPN AHC

17.02 0.00 1 359.38 211 692.54 0.15 94199990218 - LU0212851702 0.00 211 692.54 2014-10-31 1.00000000 0.00 210 333.16

2 - Títulos de Dívida

90 528 285.11

65.24

2.1 - Obrigações Taxa Fixa

61 705 118.25

44.47

2.1.1 - Divida Pública (ou equiparada)

51 071 949.14

36.80

2.1.1.1 - Nacionais

43 927 239.34

31.66

11 148 000.00 115.19% 12 841 905.11 B 114.2200% 9 071.11 -108 659.51 EUR OT 4.95% 25/Out/2023 - Tx. 4.95% 115.19% 0.00 -108 659.51 12 742 316.71 9.18 11100012878 - PTOTEAOE0021 0.00 12 733 245.60 2014-10-31 1.00000000 0.00 12 841 905.11 5 763 000.00 76.43% 4 404 436.13 B 114.1250% 104 586.61 2 172 587.62 EUR OT 4.8% 15JUN20 - Tx. 4.80% 102.05% 0.00 695 969.95 6 681 610.36 4.81 11100018048 - PTOTECOE0029 0.00 6 577 023.75 2014-10-31 1.00000000 0.00 5 881 053.80 10 149 269.00 83.43% 8 467 515.18 B 108.8700% 213 037.33 2 581 993.98 EUR OT 3.85% 04/15/21 - Tx. 3.85% 99.45% 0.00 956 493.79 11 262 546.49 8.12 11175900944 - PTOTEYOE0007 0.00 11 049 509.16 2014-10-31 1.00000000 0.00 10 093 015.37 10 744 000.00 120.29% 12 923 765.93 B 119.2450% 429 082.98 -112 083.13 EUR PGB 5.65% 15/02/24 - Tx. 5.65% 120.29% 0.00 -112 083.13 13 240 765.78 9.54 81199990355 - PTOTEQOE0015 0.00 12 811 682.80 2014-10-31 1.00000000 0.00 12 923 765.93

2.1.1.2 - Europa Zona Euro

7 144 709.80

5.15

2 896 000.00 127.36% 3 688 420.50 B 128.1300% 116 966.66 22 224.30EUR SPGB 5.4% 31/01/23 - Tx. 5.40% 127.36% 0.00 22 224.30 3 827 611.46 2.76 81199990340 - ES00000123U9 0.00 3 710 644.80 2014-10-31 1.00000000 0.00 3 688 420.50 2 470 000.00 129.39% 3 195 871.25 B 129.9200% 108 074.34 13 152.75EUR SPGB 5.85% 31/1/2022 - Tx. 5.85% 129.39% 0.00 13 152.75 3 317 098.34 2.39 81199990432 - ES00000123K0 0.00 3 209 024.00 2014-10-31 1.00000000 0.00 3 195 871.25

2.1.2 - Outros Emitentes (credit)

10 633 169.11

7.66

2.1.2.1 - Nacionais

6 099 926.77

4.40

900 000.00 101.70% 915 300.00 B 100.4980% 23 159.59 -10 818.00 EUR BPIPL 3.25% 15/01/15 - Tx. 3.25% 101.33% 0.00 -7 470.00 927 641.59 0.67 11300017856 - PTBB5JOE0000 0.00 904 482.00 2014-10-31 1.00000000 0.00 911 952.00 400 000.00 104.23% 416 900.00 B 104.3210% 20 404.11 384.00EUR CXGD 5.625% 04/12/15 - Tx. 5.63% 104.23% 0.00 384.00 437 688.11 0.32 81599990903 - PTCG25OM0029 0.00 417 284.00 2014-10-31 1.00000000 0.00 416 900.00 1 300 000.00 99.79% 1 297 250.00 B 109.6870% 38 198.63 128 681.00EUR CXGD 3.75% 18/01/18 - Tx. 3.75% 102.69% 0.00 90 987.00 1 464 129.63 1.06 81599990908 - PTCGHUOE0015 0.00 1 425 931.00 2014-10-31 1.00000000 0.00 1 334 944.00 1 600 000.00 102.91% 1 646 615.38 B 97.8580% 91 682.19 -80 887.38 EUR BESPL 5.875% 9/11/15 - Tx. 5.88% 104.42% 0.00 -104 923.69 1 657 410.19 1.19 81599990966 - PTBESWOM0013 0.00 1 565 728.00 2014-10-31 1.00000000 0.00 1 670 651.69

400 000.00 99.44% 397 772.00 B 105.9450% 12 612.33 26 008.00EUR GALPPL 4.125 25/1/19 - Tx. 4.13% 101.47% 0.00 17 900.00 436 392.33 0.31 81599990990 - PTGALIOE0009 0.00 423 780.00 2014-10-31 1.00000000 0.00 405 880.00 200 000.00 99.45% 198 904.00 B 109.0590% 4 750.68 19 214.00EUR CXGD 3% 15/01/2019 - Tx. 3.00% 99.45% 0.00 19 214.00 222 868.68 0.16 81599991001 - PTCGHAOE0019 0.00 218 118.00 2014-10-31 1.00000000 0.00 198 904.00 300 000.00 99.87% 299 604.00 B 99.0570% 6 823.97 -2 433.00 EUR BCPPL 3.375 27/02/17 - Tx. 3.38% 99.87% 0.00 -2 433.00 303 994.97 0.22 81599991017 - PTBITIOM0057 0.00 297 171.00 2014-10-31 1.00000000 0.00 299 604.00 700 000.00 99.82% 698 705.00 B 91.5630% 8 860.27 -57 764.00 EUR BESPL 2.625%08/05/17 - Tx. 2.63% 99.82% 0.00 -57 764.00 649 801.27 0.47 81599991029 - PTBEQKOM0019 0.00 640 941.00 2014-10-31 1.00000000 0.00 698 705.00

2.1.2.2 - Europa Zona Euro

3 544 914.57

2.55

50 000.00 111.88% 55 940.50 B 111.7410% 0.00 -70.00EUR ABIBB 4% 26/04/18 - Tx. 4.00% 111.88% 0.00 -70.00 55 870.50 0.04 81599990773 - BE6000782712 0.00 55 870.50 2014-10-31 1.00000000 0.00 55 940.50 111 000.00 110.99% 123 198.90 B 111.1570% 4 059.86 185.37EUR RABOBK 3.75% 9/11/20 - Tx. 3.75% 110.99% 0.00 185.37 127 444.13 0.09 81599990793 - XS0557252417 0.00 123 384.27 2014-10-31 1.00000000 0.00 123 198.90 1 200 000.00 105.72% 1 268 640.00 B 105.0550% 21 287.67 -7 980.00 EUR ELEPOR 4.625 13/6/16 - Tx. 4.63% 105.72% 0.00 -7 980.00 1 281 947.67 0.92 81599990874 - XS0256997007 0.00 1 260 660.00 2014-10-31 1.00000000 0.00 1 268 640.00 175 000.00 103.60% 181 300.00 B 103.6240% 7 146.83 42.00EUR PORTEL 5.625% 02/16 - Tx. 5.63% 106.63% 0.00 -5 257.00 188 488.83 0.14 81599990900 - XS0587805457 0.00 181 342.00 2014-10-31 1.00000000 0.00 186 599.00 500 000.00 99.86% 499 295.00 B 103.8210% 9 972.60 19 810.00EUR BBVASM 3.25% 21/3/16 - Tx. 3.25% 103.73% 0.00 475.00 529 077.60 0.38 81599990928 - XS0901738392 0.00 519 105.00 2014-10-31 1.00000000 0.00 518 630.00 200 000.00 99.75% 199 498.00 B 106.5520% 3 669.86 13 606.00EUR BBVASM 2.375 22/1/19 - Tx. 2.38% 99.75% 0.00 13 606.00 216 773.86 0.16 81599991005 - XS1016720853 0.00 213 104.00 2014-10-31 1.00000000 0.00 199 498.00 500 000.00 99.79% 498 950.00 B 100.7080% 4 821.92 4 590.00EUR BKIR 2% 05/08/2017 - Tx. 2.00% 99.79% 0.00 4 590.00 508 361.92 0.37 81599991038 - XS1059619012 0.00 503 540.00 2014-10-31 1.00000000 0.00 498 950.00 100 000.00 100.80% 100 800.00 B 100.9940% 157.19 194.00EUR SANFP 1.125% 10/3/22 - Tx. 1.13% 100.80% 0.00 194.00 101 151.19 0.07 81599991075 - FR0012146777 0.00 100 994.00 2014-10-31 1.00000000 0.00 100 800.00 100 000.00 99.82% 99 817.00 B 100.3200% 181.51 503.00EUR DBank 1.25% 08/09/21 - Tx. 1.25% 99.82% 0.00 503.00 100 501.51 0.07 81599991077 - DE000DB7XJB9 0.00 100 320.00 2014-10-31 1.00000000 0.00 99 817.00 129 000.00 106.92% 137 926.80 B 107.1570% 2 314.05 305.73EUR BNP 2.25%13/01/2021 - Tx. 2.25% 106.92% 0.00 305.73 140 546.58 0.10 81599991078 - XS1014704586 0.00 138 232.53 2014-10-31 1.00000000 0.00 137 926.80 53 000.00 103.68% 54 950.40 B 103.6330% 563.03 -24.91EUR BASF1.375% 22/01/19 - Tx. 1.38% 103.68% 0.00 -24.91 55 488.52 0.04 81599991082 - XS1017828911 0.00 54 925.49 2014-10-31 1.00000000 0.00 54 950.40 100 000.00 107.98% 107 980.00 B 108.1890% 2 199.32 209.00EUR ACAFP 2.375 27/11/20 - Tx. 2.38% 107.98% 0.00 209.00 110 388.32 0.08 81599991084 - XS0997520258 0.00 108 189.00 2014-10-31 1.00000000 0.00 107 980.00

102 000.00 126.87% 129 407.40 B 126.3470% 0.00 -533.46EUR POHBK 5.75% 28/2/22 - Tx. 5.75% 126.87% 0.00 -533.46 128 873.94 0.09 81599991085 - XS0750702507 0.00 128 873.94 2014-10-31 1.00000000 0.00 129 407.40

2.1.2.3 - Fora Zona Euro

988 327.77

0.71

100 000.00 100.48% 100 480.00 B 100.4770% 132.53 -3.00EUR TOTALCA1.125%18/3/22 - Tx. 1.13% 100.48% 0.00 -3.00 100 609.53 0.07 81599991069 - XS1111559768 0.00 100 477.00 2014-10-31 1.00000000 0.00 100 480.00 143 000.00 100.57% 143 814.28 B 100.5710% 199.81 2.25EUR TOYOTA 1.00 10/09/21 - Tx. 1.00% 100.57% 0.00 2.25 144 016.34 0.10 81599991073 - XS1107890763 0.00 143 816.53 2014-10-31 1.00000000 0.00 143 814.28 178 000.00 116.03% 206 540.10 B 115.6730% 5 931.91 -642.16EUR NAB 4.625% 10/02/20 - Tx. 4.63% 116.03% 0.00 -642.16 211 829.85 0.15 81599991074 - XS0485326085 0.00 205 897.94 2014-10-31 1.00000000 0.00 206 540.10 114 000.00 122.09% 139 182.60 B 122.1190% 973.68 33.06EUR LLOYDS 5.375% 3/9/19 - Tx. 5.38% 122.09% 0.00 33.06 140 189.34 0.10 81599991079 - XS0449361350 0.00 139 215.66 2014-10-31 1.00000000 0.00 139 182.60 103 000.00 106.34% 109 530.20 B 106.2170% 2 014.85 -126.69EUR BHP 2.125% 29/11/18 - Tx. 2.13% 106.34% 0.00 -126.69 111 418.36 0.08 81599991080 - XS0787785715 0.00 109 403.51 2014-10-31 1.00000000 0.00 109 530.20 114 000.00 101.99% 116 268.60 B 102.0500% 576.25 68.40EUR DGELN 1.125% 20/5/19 - Tx. 1.13% 101.99% 0.00 68.40 116 913.25 0.08 81599991081 - XS1069539374 0.00 116 337.00 2014-10-31 1.00000000 0.00 116 268.60 103 000.00 102.77% 105 853.10 B 102.8540% 597.54 86.52EUR CS 1.375% 29/11/19 - Tx. 1.38% 102.77% 0.00 86.52 106 537.16 0.08 81599991083 - XS1074053130 0.00 105 939.62 2014-10-31 1.00000000 0.00 105 853.10 54 000.00 105.35% 56 886.30 B 105.2110% 0.00 -72.36EUR NESNVX 1.50 19/07/19 - Tx. 1.50% 105.35% 0.00 -72.36 56 813.94 0.04 81599991086 - XS0805500062 0.00 56 813.94 2014-10-31 1.00000000 0.00 56 886.30

2.2 - Obrigações Taxa Indexada

28 823 166.86

20.77

2.2.1 - Divida Pública (ou equiparada)

143 842.00

0.10

2.2.1.2 - Europa Zona Euro

143 842.00

0.10

138 000.00 100.00% 138 000.00 B 103.7000% 736.00 5 106.00EUR KFW Float 24/07/2018 - Tx. 2.00% 99.61% 0.00 5 644.20 143 842.00 0.10 81299990598 - DE000A0E83L5 0.00 143 106.00 2014-10-31 1.00000000 0.00 137 461.80

2.2.2 - Outros Emitentes (credit)

28 647 303.00

20.64

2.2.2.1 - Nacionais

208 962.44

0.15

200 000.00 102.50% 205 000.00 I 102.7000% 3 562.44 400.00EUR GALPPL Flt 20/05/17 - Tx. 3.91% 102.00% 0.00 1 405.51 208 962.44 0.15 31560033585 - PTGALGOM0001 0.00 205 400.00 1.00000000 0.00 203 994.49

2.2.2.2 - Europa Zona Euro

10 283 233.86

7.41

1 100 000.00 100.00% 1 100 000.00 B 100.6150% 1 813.84 6 765.00EUR SANTAN Flt 23/5/2016 - Tx. 0.89% 100.00% 0.00 6 765.00 1 108 578.84 0.80 91365028357 - XS1069236716 0.00 1 106 765.00 2014-10-31 1.00000000 0.00 1 100 000.00

1 000 000.00 99.65% 996 500.00 B 97.7770% 299.75 -18 730.00 EUR BNP Float 18/04/2018 - Tx. 0.98% 99.65% 0.00 -18 730.00 978 069.75 0.70 91365051328 - XS0354181058 0.00 977 770.00 2014-10-31 1.00000000 0.00 996 500.00 600 000.00 100.00% 600 000.00 B 100.7690% 429.87 4 614.00EUR ARRFP Flaot 31/03/19 - Tx. 0.83% 100.00% 0.00 4 614.00 605 043.87 0.44 91399900570 - FR0011884899 0.00 604 614.00 2014-10-31 1.00000000 0.00 600 000.00 550 000.00 98.09% 539 495.00 B 98.5130% 0.00 2 326.50EUR TELEFO Flt 31/1/2018 - Tx. 0.79% 98.09% 0.00 2 326.50 541 821.50 0.39 91399904310 - XS0283056215 0.00 541 821.50 2014-10-31 1.00000000 0.00 539 495.00 1 500 000.00 99.90% 1 498 500.00 B 100.1000% 1 068.96 3 000.00EUR TELEFO Flt 26/03/16 - Tx. 0.73% 99.90% 0.00 3 000.00 1 502 568.96 1.08 91399904311 - XS1046491657 0.00 1 501 500.00 2014-10-31 1.00000000 0.00 1 498 500.00 1 280 000.00 91.23% 1 167 763.44 B 99.7190% 1 223.04 108 639.76EUR Deutsche Bk 09/20/16 - Tx. 0.88% 98.73% 0.00 12 723.20 1 277 626.24 0.92 91399906018 - DE0003933685 0.00 1 276 403.20 2014-10-31 1.00000000 0.00 1 263 680.00 1 000 000.00 99.90% 998 990.00 B 99.9990% 470.83 1 000.00EUR DB Float 11/03/2016 - Tx. 0.34% 99.90% 0.00 1 000.00 1 000 460.83 0.72 91399906044 - DE000DB7XLS9 0.00 999 990.00 2014-10-31 1.00000000 0.00 998 990.00 200 000.00 96.00% 192 000.00 B 100.0010% 135.37 8 002.00EUR BACR Flt 02/12/14 - Tx. 0.41% 99.81% 0.00 376.47 200 137.37 0.14 91399928400 - XS0194963848 0.00 200 002.00 2014-10-31 1.00000000 0.00 199 625.53 500 000.00 99.94% 499 700.00 B 100.7090% 0.00 3 845.00EUR UCGIM Flt 31/01/2017 - Tx. 0.64% 99.94% 0.00 3 845.00 503 545.00 0.36 91399950421 - IT0004988538 0.00 503 545.00 2014-10-31 1.00000000 0.00 499 700.00 300 000.00 100.75% 302 241.00 B 100.6130% 180.25 -402.00EUR UCGIM Float 10/04/17 - Tx. 1.03% 100.75% 0.00 -402.00 302 019.25 0.22 91399950424 - XS1055725730 0.00 301 839.00 2014-10-31 1.00000000 0.00 302 241.00 900 000.00 97.62% 878 580.00 B 98.8200% 643.80 10 800.00EUR ISPIM Float 18/05/17 - Tx. 0.35% 97.62% 0.00 10 800.00 890 023.80 0.64 91399993648 - XS0300196879 0.00 889 380.00 2014-10-31 1.00000000 0.00 878 580.00 900 000.00 99.61% 896 493.00 B 96.6390% 1 882.80 -26 742.00 EUR IBSANP Flt 20/02/18 - Tx. 1.05% 92.28% 0.00 39 231.00 871 633.80 0.63 91399994397 - XS0243399556 0.00 869 751.00 2014-10-31 1.00000000 0.00 830 520.00 500 000.00 100.00% 500 000.00 B 100.3110% 149.65 1 555.00EUR BMW Float 04/04/2017 - Tx. 0.43% 100.00% 0.00 1 555.00 501 704.65 0.36 91399995512 - XS1052683353 0.00 501 555.00 2014-10-31 1.00000000 0.00 500 000.00

2.2.2.3 - Fora Zona Euro

18 155 106.70

13.08

1 250 000.00 43.00% 537 500.00 B 67.5050% 393.78 306 312.50EUR Montpi Float 04/16 - Tx. 1.03% 45.16% 0.00 279 312.50 844 206.28 0.61 91365008721 - XS0250907218 0.00 843 812.50 2014-10-31 1.00000000 0.00 564 500.00 1 810 000.00 92.26% 1 669 898.50 B 99.4790% 595.39 130 671.40EUR HSBC Float 09/20 - Tx. 0.38% 97.48% 0.00 36 145.70 1 801 165.29 1.30 91396040022 - XS0230370339 0.00 1 800 569.90 2014-10-31 1.00000000 0.00 1 764 424.20 1 000 000.00 102.70% 1 027 000.00 B 106.1580% 22 361.11 34 580.00EUR CBAAU Float 08/12/18 - Tx. 2.50% 102.28% 0.00 38 762.50 1 083 941.11 0.78 91399000203 - XS0556969854 0.00 1 061 580.00 2014-10-31 1.00000000 0.00 1 022 817.50 900 000.00 98.76% 888 850.00 B 99.9190% 215.55 10 421.00EUR JPM Float 12/10/15 - Tx. 0.48% 98.95% 0.00 8 730.00 899 486.55 0.65 91399003505 - XS0231555672 0.00 899 271.00 2014-10-31 1.00000000 0.00 890 541.00

200 000.00 98.25% 196 500.00 B 99.7940% 0.00 3 088.00EUR JPM Var 03/31/18 - Tx. 1.23% 98.44% 0.00 2 712.00 199 588.00 0.14 91399003700 - XS0246862485 0.00 199 588.00 2014-10-31 1.00000000 0.00 196 876.00 1 100 000.00 99.99% 1 099 890.00 B 99.8430% 0.00 -1 617.00 EUR JPM Float 31/05/17 - Tx. 0.77% 99.99% 0.00 -1 617.00 1 098 273.00 0.79 91399003701 - XS0301885603 0.00 1 098 273.00 2014-10-31 1.00000000 0.00 1 099 890.00 1 000 000.00 100.10% 1 001 000.00 B 100.2270% 1 578.89 1 270.00EUR ABBEYFloat 05/19 - Tx. 0.81% 100.10% 0.00 1 270.00 1 003 848.89 0.72 91399003726 - XS1070235004 0.00 1 002 270.00 2014-10-31 1.00000000 0.00 1 001 000.00 1 000 000.00 99.60% 995 977.00 B 100.0990% 226.19 5 013.00EUR MSFloat 13/04/16 - Tx. 0.48% 99.03% 0.00 10 700.00 1 001 216.19 0.72 91399004619 - XS0250971222 0.00 1 000 990.00 2014-10-31 1.00000000 0.00 990 290.00 1 050 000.00 95.20% 999 600.00 B 99.1640% 181.53 41 622.00EUR BAC Float 23/05/2017 - Tx. 0.78% 96.64% 0.00 26 523.00 1 041 403.53 0.75 91399005884 - XS0301928262 0.00 1 041 222.00 2014-10-31 1.00000000 0.00 1 014 699.00 1 150 000.00 95.45% 1 097 675.00 B 98.9130% 942.49 39 824.50EUR BAC Float 28/03/2018 - Tx. 0.92% 96.08% 0.00 32 545.00 1 138 441.99 0.82 91399005889 - XS0249443879 0.00 1 137 499.50 2014-10-31 1.00000000 0.00 1 104 954.50 600 000.00 99.26% 595 560.00 B 98.8420% 0.00 -2 508.00 EUR CITIGROUP Flt31/5/17 - Tx. 0.75% 99.26% 0.00 -2 508.00 593 052.00 0.43 91399006305 - XS0303074883 0.00 593 052.00 2014-10-31 1.00000000 0.00 595 560.00 1 000 000.00 98.88% 988 800.00 B 99.2940% 847.17 4 140.00EUR LLOYDS Flt 21/03/17 - Tx. 0.78% 98.88% 0.00 4 140.00 993 787.17 0.72 91399912267 - XS0292269544 0.00 992 940.00 2014-10-31 1.00000000 0.00 988 800.00 1 555 000.00 99.11% 1 541 112.00 B 99.5960% 2 506.14 7 605.80EUR Lloyds Float 01/9/16 - Tx. 0.97% 99.11% 0.00 7 605.80 1 551 223.94 1.12 91399912287 - XS0192560653 0.00 1 548 717.80 2014-10-31 1.00000000 0.00 1 541 112.00 500 000.00 98.12% 490 600.00 B 100.7590% 5 211.11 13 195.00EUR NDASS Flt 02/02/2016 - Tx. 1.40% 98.75% 0.00 10 045.00 509 006.11 0.37 91399923255 - XS0479357419 0.00 503 795.00 2014-10-31 1.00000000 0.00 493 750.00 1 000 000.00 100.00% 1 000 000.00 B 100.5050% 964.44 5 050.00EUR ANZ Float 05/12/2016 - Tx. 0.62% 99.96% 0.00 5 470.00 1 006 014.44 0.72 91399927451 - XS1000337128 0.00 1 005 050.00 2014-10-31 1.00000000 0.00 999 580.00 750 000.00 100.00% 750 000.00 B 99.3080% 17.46 -5 190.00 EUR RBS Float 30/01/2017 - Tx. 0.84% 94.83% 0.00 33 562.50 744 827.46 0.54 91399990907 - XS0259579547 0.00 744 810.00 2014-10-31 1.00000000 0.00 711 247.50 750 000.00 104.30% 782 250.00 B 103.3950% 172.08 -6 787.50 EUR RBS Flt 25/07/2017 - Tx. 2.07% 103.61% 0.00 -1 612.50 775 634.58 0.56 91399990914 - XS0552018037 0.00 775 462.50 2014-10-31 1.00000000 0.00 777 075.00 1 400 000.00 94.00% 1 316 000.00 B 97.4580% 731.34 48 412.00EUR RBS Flt 08/10/2019 - Tx. 0.83% 93.30% 0.00 58 212.00 1 365 143.34 0.98 91399990915 - NL0009062215 0.00 1 364 412.00 2014-10-31 1.00000000 0.00 1 306 200.00 500 000.00 100.70% 503 500.00 B 100.7070% 1 311.83 35.00EUR RBS Float 22/02/2016 - Tx. 1.39% 100.70% 0.00 35.00 504 846.83 0.36 91399990917 - NL0009354513 0.00 503 535.00 2014-10-31 1.00000000 0.00 503 500.00

2.2.3 - Unidades de Participação - Obrigações

32 021.86

0.02

296.63 78.76 23 362.10 P 93.6435 4 244.21 4 415.55EUR Montepio Obrigações 91.75 4 244.21 562.83 32 021.86 0.02 14165099902 - PTYMGBLM0000 0.00 27 777.65 2014-10-31 1.00000000 0.00 27 214.82

3 - Imobiliário

16 007 025.94

11.54

3.1 - Directo

5 040 000.00

3.63

EUR -190 760.57 0.00 P 664 760.57 664760.57

Gen Firm Miguel 10ºB

474000.00 0.00 0.00 474 000.00 0.34 50019900002 474 000.00 1.00000000 0.00 474 000.00 EUR -3 000.00 0.00 P 19 000.00 19000.00 Firm Miguel 5-5c 3ªC 16000.00 0.00 0.00 16 000.00 0.01 50019900003 16 000.00 1.00000000 0.00 16 000.00 EUR -1 125 684.57 0.00 P 5 675 684.57 5675684.57

EPAC Cde Valbom 96

4566297.50 0.00 -16 297.50 4 550 000.00 3.28 50019900004 4 550 000.00 1.00000000 0.00 4 566 297.50

3.2 - Fundos de Investimento Imobiliário

8 710 016.53

6.28

604 050.00 9.04 5 461 171.78 P 9.4175 0.00 227 469.10EUR VIP 9.42 0.00 785.27 5 688 640.88 4.10 14165010301 - PTVIPAHM0005 0.00 5 688 640.88 2014-10-31 1.00000000 0.00 5 687 855.61 100.00 1000.00 100 000.00 P 690.0000 0.00 -31 000.00 EUR FUNDIESTAMO I (FEI) 690.00 0.00 0.00 69 000.00 0.05 14200013411 - PTGFIBIM0004 0.00 69 000.00 2014-10-31 1.00000000 0.00 69 000.00 873 019.00 5.78 5 047 428.35 P 3.3818 0.00 -2 095 052.70EUR Vision Escrt-FII.Fec 3.91 0.00 -461 652.45 2 952 375.65 2.13 14265099991 - PTNOFAIM0008 0.00 2 952 375.65 2014-10-31 1.00000000 0.00 3 414 028.10

3.3 - Fundos de Investimento Mobiliário

2 257 009.41

1.63

54 281.00 51.21 2 779 471.50 I 41.5801 0.00 -522 462.09 EUR

Multigestão Imob FEI

42.80 0.00 -66 190.25 2 257 009.41 1.63 141650999996 - PTYMGOHM0001 0.00 2 257 009.41 1.00000000 0.00 2 323 199.66

5 - Liquidez

5 770 593.79

4.16

5.3 - Depósitos à Ordem

5 770 593.79

4.16

0.00 55.41 0.00 0.00 EUR 0600170214Popular - Banco Popular

DEPOSITOS ORDEM 55.41 1.00000000 0.00 -171 157.38 -0.12 0.00 EUR 07.549462.9 - Montepio EURO DEPOSITOS ORDEM -171 157.38 1.00000000 0.00 5 940 920.63 4.28 0.00 EUR 10.549462.9 - CEMG(EUR) DEPOSITOS ORDEM 5 940 920.63 1.00000000 0.00 0.01 0.00 0.00 EUR 3.28572170020Sant - Santander Totta

0.00 116.95 0.00 0.00

EUR 39867005BANIFP - BANIF Privado

DEPOSITOS ORDEM 116.95 1.00000000 0.00 658.17 0.00 0.00 EUR 10.549462.9 - CEMG(EUR) Pendente de Juro DO 658.17 1.00000000

6 - Encargos

-202 986.09

-0.15

6.1 - Comissionamento

-202 986.09

-0.15

0.00 -3 249.38 0.00 0.00 EUR BD - EUR Comissao de Depósito -3 249.38 1.00000000 0.00 -195 139.28 -0.14 0.00 EUR CG - EUR Comissao de Gestao -195 139.28 1.00000000 0.00 -2 365.27 0.00 0.00 EUR CR - EUR Comissão Resgate -2 365.27 1.00000000 0.00 2 698.30 0.00 0.00 EUR DC - EUR Difer. Contribuições 2 698.30 1.00000000 0.00 -82.70 0.00 0.00 EUR IS - EUR

Taxa Supervisão ISP -82.70 1.00000000

0.00 -4 847.76 0.00 0.00 EUR AC - EUR Auditoria 2014 -4 847.76 1.00000000

7 - Pendentes e Deved/Cred

-146 741.51

-0.11

7.1 - Devedores e Credores

91 793.07

0.07

0.00 -9 636.22 -0.01 0.00 EUR IP - EUR IMPOSTOS -9 636.22 1.00000000 0.00 -4 697.25 0.00 0.00 EUR RR - EUR Rendas a receber -4 697.25 1.00000000 0.00 106 126.54 0.08 0.00 EUR RT - EUR Respons. Terceiros 106 126.54 1.00000000

7.2 - Operações a Liquidar

-238 534.58

-0.17

0.00 490.87 0.00 0.00 USD 02.549462.4 - Dólares PENDENTE A LIQUIDAR 614.76 0.79846694 0.00 -239 025.45 -0.17 0.00 EUR 10.549462.9 - CEMG(EUR) PENDENTE A LIQUIDAR -239 025.45 1.00000000

TOTAL:

138 767 002.78

100.00

Valor da Unidade de Participação bruta em EUR: Valor da Unidade de Participação líquida em EUR: 24.0694

Número de Unidades de Participação: 5 765 290.486100 24.1471

Imposto Retido por UP: 0.0777 Imposto Retido Global: 727 382.6000

Rendimento EUSD por UP: 0.0000 Rendimento EUSD Global: 0.0000

Imposto EUSD por UP: 0.0000 Imposto EUSD Global: 0.0000

Diferenças entre Valorização histórica e não histórica: