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

1 - Títulos de Rendimento Variável

858 550.30

12.78

1.1 - Europa

384 296.20

5.72

1.1.1 - Acções

234 996.07

3.50

1.1.1.1 - Acções Nacionais

37 718.55

0.56

245.00 5.13 1 257.21 P 0.3100 0.00 -1 181.26 EUR Martifer SGPS SA 0.19 0.00 30.13 75.95 0.00 12100009847 - PTMFR0AM0003 0.00 75.95 2015-04-30 1.00000000 0.00 45.82 700.00 2.72 1 904.00 P 2.7900 0.00 49.00EUR REN SGPS SA 2.41 0.00 268.80 1 953.00 0.03 12100009899 - PTREL0AM0008 0.00 1 953.00 2015-04-30 1.00000000 0.00 1 684.20 112.00 1.46 163.53 P 0.3900 0.00 -119.85EUR Sonae Capital 0.26 0.00 14.45 43.68 0.00 12100011995 - PTSNP0AE0008 0.00 43.68 2015-04-30 1.00000000 0.00 29.23 87.00 1.34 116.70 P 0.6860 0.00 -57.02EUR Teixeira Duarte SA 0.71 0.00 -2.18 59.68 0.00 12100019601 - PTTD10AM0000 0.00 59.68 2015-04-30 1.00000000 0.00 61.86 500.00 2.79 1 397.30 P 4.3710 0.00 788.20EUR Portucel SA 3.09 0.00 643.00 2 185.50 0.03 12121024802 - PTPTI0AM0006 0.00 2 185.50 2015-04-30 1.00000000 0.00 1 542.50 1 000.00 2.86 2 862.24 P 3.5720 0.00 709.76EUR EDP-Nom. 3.22 0.00 354.00 3 572.00 0.05 12140000102 - PTEDP0AM0009 0.00 3 572.00 2015-04-30 1.00000000 0.00 3 218.00 41 219.00 0.12 4 816.41 P 0.0891 0.00 -1 143.80 EUR BCP-NO 0.07 0.00 964.52 3 672.61 0.05 12165003502 - PTBCP0AM0007 0.00 3 672.61 2015-04-30 1.00000000 0.00 2 708.09 11 200.00 1.18 13 238.16 I 0.0000 0.00 -13 238.16 EUR BESCL 0.00 0.00 0.00 0.00 0.00 12165007802 - PTBES0AM0007 0.00 0.00 1.00000000 0.00 0.00 853.00 1.73 1 474.08 P 1.4600 0.00 -228.70EUR BPI SGPS -NoPr 1.03 0.00 370.20 1 245.38 0.02 12165096902 - PTBPI0AM0004 0.00 1 245.38 2015-04-30 1.00000000 0.00 875.18 4 000.00 1.14 4 542.22 P 1.2420 0.00 425.78EUR SONAE 1.02 0.00 872.00 4 968.00 0.07 12174009201 - PTSON0AM0001 0.00 4 968.00 2015-04-30 1.00000000 0.00 4 096.00 110.00 3.96 435.71 P 3.0880 0.00 -96.03EUR Mota Engil SGPS 2.66 0.00 46.97 339.68 0.01 12174256001 - PTMEN0AE0005 0.00 339.68 2015-04-30 1.00000000 0.00 292.71 700.00 6.62 4 632.07 P 13.0250 0.00 4 485.43EUR Jer.Martins-SGPS 8.34 0.00 3 283.00 9 117.50 0.14 12174258701 - PTJMT0AE0001 0.00 9 117.50 2015-04-30 1.00000000 0.00 5 834.50 62.00 6.78 420.24 P 12.7900 0.00 372.74EUR Semapa - Nominativas 10.03 0.00 171.43 792.98 0.01 12174263002 - PTSEM0AM0004 0.00 792.98 2015-04-30 1.00000000 0.00 621.55 47.00 6.94 326.25 P 6.5000 0.00 -20.75EUR NOS SGPS 5.24 0.00 59.41 305.50 0.00 12174274202 - PTZON0AM0006 0.00 305.50 2015-04-30 1.00000000 0.00 246.09

300.00 11.60 3 479.04 P 12.1900 0.00 177.96EUR Galp Energia 8.43 0.00 1 127.70 3 657.00 0.05 12174325202 - PTGAL0AM0009 0.00 3 657.00 2015-04-30 1.00000000 0.00 2 529.30 22.00 1.45 31.96 P 0.9410 0.00 -11.26EUR IMPRESA 0.79 0.00 3.36 20.70 0.00 12174332302 - PTIPR0AM0000 0.00 20.70 2015-04-30 1.00000000 0.00 17.34 434.00 7.48 3 246.70 P 0.5730 0.00 -2 998.02 EUR Portugal Telecom 0.86 0.00 -126.30 248.68 0.00 12174334602 - PTPTC0AM0009 0.00 248.68 2015-04-30 1.00000000 0.00 374.98 53 571.00 0.01 565.20 P 0.0079 0.00 -141.99EUR Sonae Indústria SGPS 0.01 0.00 80.36 423.21 0.01 12174340701 - PTS3P0AM0017 0.00 423.21 2015-04-30 1.00000000 0.00 342.85 500.00 5.52 2 760.00 P 10.0750 0.00 2 277.50EUR CTT CORREIOS PORT 8.02 0.00 1 029.00 5 037.50 0.07 12199990002 - PTCTT0AM0001 0.00 5 037.50 2015-04-30 1.00000000 0.00 4 008.50

1.1.1.2 - Acções Zona Euro

191 255.39

2.85

200.00 6.88 1 375.90 P 6.2530 0.00 -125.30EUR EDP Renováveis SA 5.40 0.00 169.80 1 250.60 0.02 12100012865 - ES0127797019 0.00 1 250.60 2015-04-30 1.00000000 0.00 1 080.80 184.00 42.37 7 796.48 P 48.4850 0.00 1 124.76EUR TOTAL SA 42.52 0.00 1 097.56 8 921.24 0.13 92199990008 - FR0000120271 0.00 8 921.24 2015-04-30 1.00000000 0.00 7 823.68 50.00 61.21 3 060.35 P 97.5100 0.00 1 815.15EUR SIEMENS AG 93.75 0.00 188.00 4 875.50 0.07 92199990011 - DE0007236101 0.00 4 875.50 2015-04-30 1.00000000 0.00 4 687.50 315.00 11.34 3 572.12 P 6.0450 0.00 -1 667.94 EUR NOKIA OYJ 6.56 0.00 -162.22 1 904.18 0.03 92199990012 - FI0009000681 0.00 1 904.18 2015-04-30 1.00000000 0.00 2 066.40 278.00 9.72 2 701.23 P 13.7950 0.00 1 133.78EUR ING GROEP N.V. 10.83 0.00 824.27 3 835.01 0.06 92199990013 - NL0000303600 0.00 3 835.01 2015-04-30 1.00000000 0.00 3 010.74 100.00 50.58 5 057.85 P 56.4400 0.00 586.15EUR

BANQUE NATION. PARIS

49.26 0.00 718.00 5 644.00 0.08 92199990015 - FR0000131104 0.00 5 644.00 2015-04-30 1.00000000 0.00 4 926.00 19.00 8.41 159.81 P 17.3000 0.00 168.89EUR AHOLD NV 14.76 0.00 48.35 328.70 0.00 92199990017 - NL0010672325 0.00 328.70 2015-04-30 1.00000000 0.00 280.35 800.00 10.89 8 711.32 P 9.0000 0.00 -1 511.32 EUR BBVA 7.85 0.00 916.80 7 200.00 0.11 92199990018 - ES0113211835 0.00 7 200.00 2015-04-30 1.00000000 0.00 6 283.20 44.00 23.14 1 018.08 P 18.4150 0.00 -207.82EUR REPSOL SA 15.55 0.00 126.28 810.26 0.01 92199990020 - ES0173516115 0.00 810.26 2015-04-30 1.00000000 0.00 683.98 30.00 31.72 951.46 P 106.1000 0.00 2 231.54EUR BMW AG 89.77 0.00 489.90 3 183.00 0.05 92199990022 - DE0005190003 0.00 3 183.00 2015-04-30 1.00000000 0.00 2 693.10 77.00 33.94 2 613.55 P 67.9300 0.00 2 617.06EUR SAP SE 58.26 0.00 744.59 5 230.61 0.08 92199990023 - DE0007164600 0.00 5 230.61 2015-04-30 1.00000000 0.00 4 486.02

73.00 20.15 1 471.26 P 39.0650 0.00 1 380.49EUR UNILEVER NV-CVA 32.64 0.00 469.03 2 851.75 0.04 92199990026 - NL0000009355 0.00 2 851.75 2015-04-30 1.00000000 0.00 2 382.72 99.00 40.52 4 011.23 P 89.4800 0.00 4 847.29EUR BASF SE 69.88 0.00 1 940.40 8 858.52 0.13 92199990028 - DE000BASF111 0.00 8 858.52 2015-04-30 1.00000000 0.00 6 918.12 62.00 4.62 286.58 P 9.4300 0.00 298.08EUR

STORA ENSO OYJ

7.44 0.00 123.69 584.66 0.01 92199990029 - FI0009005961 0.00 584.66 2015-04-30 1.00000000 0.00 460.97 29.00 50.10 1 452.94 P 30.7900 0.00 -560.03EUR CARREFOUR SA 25.30 0.00 159.21 892.91 0.01 92199990031 - FR0000120172 0.00 892.91 2015-04-30 1.00000000 0.00 733.70 82.00 46.70 3 829.35 P 129.9000 0.00 6 822.45EUR BAYER AG 113.00 0.00 1 385.80 10 651.80 0.16 92199990032 - DE000BAY0017 0.00 10 651.80 2015-04-30 1.00000000 0.00 9 266.00 93.00 40.36 3 753.64 P 86.3300 0.00 4 275.05EUR DAIMLER AG 68.97 0.00 1 614.48 8 028.69 0.12 92199990034 - DE0007100000 0.00 8 028.69 2015-04-30 1.00000000 0.00 6 414.21 61.00 55.41 3 380.06 P 91.2000 0.00 2 183.14EUR SANOFI 75.66 0.00 947.94 5 563.20 0.08 92199990036 - FR0000120578 0.00 5 563.20 2015-04-30 1.00000000 0.00 4 615.26 38.00 90.77 3 449.36 P 152.6000 0.00 2 349.44EUR ALLIANZ SE-REG 137.35 0.00 579.50 5 798.80 0.09 92199990039 - DE0008404005 0.00 5 798.80 2015-04-30 1.00000000 0.00 5 219.30 243.00 18.00 4 373.71 P 14.7400 0.00 -791.89EUR ORANGE 14.15 0.00 143.37 3 581.82 0.05 92199990040 - FR0000133308 0.00 3 581.82 2015-04-30 1.00000000 0.00 3 438.45 138.00 5.65 780.21 P 7.0650 0.00 194.76EUR AEGON NV 6.26 0.00 111.23 974.97 0.01 92199990042 - NL0000303709 0.00 974.97 2015-04-30 1.00000000 0.00 863.74 156.00 16.84 2 627.61 P 22.6150 0.00 900.33EUR AXA 19.21 0.00 531.96 3 527.94 0.05 92199990044 - FR0000120628 0.00 3 527.94 2015-04-30 1.00000000 0.00 2 995.98 145.00 40.02 5 802.45 P 28.7250 0.00 -1 637.32 EUR DEUTSCHE BANK AG 24.99 0.00 542.30 4 165.13 0.06 92199990046 - DE0005140008 0.00 4 165.13 2015-04-30 1.00000000 0.00 3 622.83 47.00 26.31 1 236.75 P 17.4800 0.00 -415.19EUR ASSICURA GENERALI 17.00 0.00 22.56 821.56 0.01 92199990051 - IT0000062072 0.00 821.56 2015-04-30 1.00000000 0.00 799.00 17.00 76.84 1 306.30 P 170.4500 0.00 1 591.35EUR LOREAL 139.30 0.00 529.55 2 897.65 0.04 92199990054 - FR0000120321 0.00 2 897.65 2015-04-30 1.00000000 0.00 2 368.10 18.00 107.14 1 928.50 P 174.9000 0.00 1 219.70EUR MUENCHENER RUECKVER 165.75 0.00 164.70 3 148.20 0.05 92199990057 - DE0008430026 0.00 3 148.20 2015-04-30 1.00000000 0.00 2 983.50 9.00 79.76 717.87 P 165.0500 0.00 767.58EUR KERING 159.50 0.00 49.95 1 485.45 0.02 92199990058 - FR0000121485 0.00 1 485.45 2015-04-30 1.00000000 0.00 1 435.50 100.00 50.27 5 026.91 P 44.7050 0.00 -556.41EUR SOCIETE GENERALE-A 34.99 0.00 971.50 4 470.50 0.07 92199990061 - FR0000130809 0.00 4 470.50 2015-04-30 1.00000000 0.00 3 499.00

324.00 7.03 2 277.95 P 6.4500 0.00 -188.15EUR UNICREDITO IT (ITAL) 5.34 0.00 361.26 2 089.80 0.03 92199990062 - IT0004781412 0.00 2 089.80 2015-04-30 1.00000000 0.00 1 728.54 107.00 3.97 424.27 P 3.3090 0.00 -70.21EUR KPN NV 2.63 0.00 72.86 354.06 0.01 92199990070 - NL0000009082 0.00 354.06 2015-04-30 1.00000000 0.00 281.20 30.00 59.05 1 771.43 P 65.3300 0.00 188.48EUR LAFARGE 58.08 0.00 217.50 1 959.90 0.03 92199990074 - FR0000120537 0.00 1 959.90 2015-04-30 1.00000000 0.00 1 742.40 100.00 27.64 2 763.88 P 13.9600 0.00 -1 367.88 EUR E.ON SE 14.20 0.00 -23.50 1 396.00 0.02 92199990081 - DE000ENAG999 0.00 1 396.00 2015-04-30 1.00000000 0.00 1 419.50 257.00 9.95 2 556.10 P 16.4750 0.00 1 677.98EUR DEUTSCHE TELEKOM AG 13.25 0.00 828.83 4 234.08 0.06 92199990083 - DE0005557508 0.00 4 234.08 2015-04-30 1.00000000 0.00 3 405.25 81.00 20.75 1 680.65 P 25.6550 0.00 397.41EUR KONINKL. PHILIPS NV 24.15 0.00 121.91 2 078.06 0.03 92199990101 - NL0000009538 0.00 2 078.06 2015-04-30 1.00000000 0.00 1 956.15 103.00 19.20 1 977.78 P 22.4150 0.00 330.97EUR VIVENDI 20.69 0.00 177.68 2 308.75 0.03 92199990105 - FR0000127771 0.00 2 308.75 2015-04-30 1.00000000 0.00 2 131.07 392.00 3.36 1 315.39 P 3.1640 0.00 -75.10EUR

VODAFONE Cot. EUR

2.83 0.00 130.15 1 240.29 0.02 92199990106 - GB00BH4HKS39 0.00 1 240.29 2015-04-30 1.00000000 0.00 1 110.14 30.00 113.86 3 415.87 P 227.3000 0.00 3 403.13EUR Volkswagen Ag 180.10 0.00 1 416.00 6 819.00 0.10 92199990107 - DE0007664005 0.00 6 819.00 2015-04-30 1.00000000 0.00 5 403.00 212.00 17.64 3 739.96 P 17.1800 0.00 -97.80EUR ENI SPA 14.51 0.00 566.04 3 642.16 0.05 92199990111 - IT0003132476 0.00 3 642.16 2015-04-30 1.00000000 0.00 3 076.12 468.00 4.33 2 025.58 P 4.2360 0.00 -43.13EUR ENEL SPA - 2001 3.70 0.00 252.72 1 982.45 0.03 92199990112 - IT0003128367 0.00 1 982.45 2015-04-30 1.00000000 0.00 1 729.73 16.00 73.95 1 183.16 P 156.6000 0.00 1 322.44EUR LVMH MOET HEN SE 132.25 0.00 389.60 2 505.60 0.04 92199990113 - FR0000121014 0.00 2 505.60 2015-04-30 1.00000000 0.00 2 116.00 400.00 16.39 6 555.64 P 13.6400 0.00 -1 099.64 EUR Telefonica 11.86 0.00 713.41 5 456.00 0.08 92199990117 - ES0178430E18 0.00 5 456.00 2015-04-30 1.00000000 0.00 4 742.59 1 142.00 8.79 10 043.29 P 6.7560 0.00 -2 327.94 EUR BSCH - Espanha 7.00 0.00 -274.08 7 715.35 0.11 92199990119 - ES0113900J37 0.00 7 715.35 2015-04-30 1.00000000 0.00 7 989.43 23.00 59.72 1 373.51 P 22.2900 0.00 -860.84EUR RWE AG 25.65 0.00 -77.28 512.67 0.01 92199990124 - DE0007037129 0.00 512.67 2015-04-30 1.00000000 0.00 589.95 24.00 56.66 1 359.88 P 85.3000 0.00 687.32EUR PORSCHE AUT H-PRF 67.16 0.00 435.36 2 047.20 0.03 92199990125 - DE000PAH0038 0.00 2 047.20 2015-04-30 1.00000000 0.00 1 611.84 2 411.00 1.27 3 064.88 P 1.0590 0.00 -511.63EUR

TELECOM ITALIA SPA

0.88 0.00 426.75 2 553.25 0.04 92199990129 - IT0003497168 0.00 2 553.25 2015-04-30 1.00000000 0.00 2 126.50

24.00 7.52 180.51 P 12.1450 0.00 110.97EUR Commerzbank AG 10.98 0.00 27.96 291.48 0.00 92199990132 - DE000CBK1001 0.00 291.48 2015-04-30 1.00000000 0.00 263.52 1.00 24.50 24.50 P 33.3050 0.00 8.81EUR BELGACOM SA 30.10 0.00 3.21 33.31 0.00 92199990133 - BE0003810273 0.00 33.31 2015-04-30 1.00000000 0.00 30.10 50.00 34.65 1 732.69 P 40.7000 0.00 302.31EUR SAINT-GOBAIN (COMP) 35.23 0.00 273.50 2 035.00 0.03 92199990134 - FR0000125007 0.00 2 035.00 2015-04-30 1.00000000 0.00 1 761.50 328.00 5.24 1 717.44 P 5.9770 0.00 243.02EUR IBERDROLA SA 5.60 0.00 124.64 1 960.46 0.03 92199990135 - ES0144580Y14 0.00 1 960.46 2015-04-30 1.00000000 0.00 1 835.82 70.00 14.06 984.05 P 13.9050 0.00 -10.70EUR CREDIT AGRICOLE SA 10.76 0.00 220.15 973.35 0.01 92199990139 - FR0000045072 0.00 973.35 2015-04-30 1.00000000 0.00 753.20 200.00 28.49 5 697.14 P 18.2050 0.00 -2 056.14 EUR GDF SUEZ 19.43 0.00 -245.00 3 641.00 0.05 92199990192 - FR0010208488 0.00 3 641.00 2015-04-30 1.00000000 0.00 3 886.00 67.00 33.91 2 271.78 P 94.1000 0.00 4 032.92EUR RENAULT SA 60.53 0.00 2 249.19 6 304.70 0.09 92199990195 - FR0000131906 0.00 6 304.70 2015-04-30 1.00000000 0.00 4 055.51 153.00 23.87 3 651.72 P 28.3700 0.00 688.89EUR

Royal D. Shell A EUR

27.66 0.00 108.63 4 340.61 0.06 92199990196 - GB00B03MLX29 0.00 4 340.61 2015-04-30 1.00000000 0.00 4 231.98 12.00 38.94 467.25 P 22.7300 0.00 -194.49EUR Electricite de Franc 22.83 0.00 -1.14 272.76 0.00 92199990205 - FR0010242511 0.00 272.76 2015-04-30 1.00000000 0.00 273.90 761.00 2.89 2 196.86 P 3.0160 0.00 98.32EUR INTESA SANPAOLO 2.42 0.00 452.04 2 295.18 0.03 92199990224 - IT0000072618 0.00 2 295.18 2015-04-30 1.00000000 0.00 1 843.14 8.00 39.44 315.48 P 66.8400 0.00 219.24EUR SCHNEIDER ELECTRIC 60.61 0.00 49.84 534.72 0.01 92199990410 - FR0000121972 0.00 534.72 2015-04-30 1.00000000 0.00 484.88 23.00 10.81 248.57 P 12.4000 0.00 36.63EUR Deutsche Lufthansa 13.83 0.00 -32.89 285.20 0.00 92199990415 - DE0008232125 0.00 285.20 2015-04-30 1.00000000 0.00 318.09 35.00 5.77 201.80 P 28.6750 0.00 801.83EUR INDITEX 23.71 0.00 173.95 1 003.63 0.01 92199990433 - ES0148396007 0.00 1 003.63 2015-04-30 1.00000000 0.00 829.68 11.00 10.18 111.95 P 18.2000 0.00 88.25EUR SUEZ ENVIRONMENT SA 14.44 0.00 41.41 200.20 0.00 92199990436 - FR0010613471 0.00 200.20 2015-04-30 1.00000000 0.00 158.79 15.00 49.16 737.34 P 28.0350 0.00 -316.81EUR ALSTOM 26.86 0.00 17.63 420.53 0.01 92199990444 - FR0010220475 0.00 420.53 2015-04-30 1.00000000 0.00 402.90 57.00 38.21 2 177.81 P 54.8200 0.00 946.93EUR VINCI SA 45.51 0.00 530.67 3 124.74 0.05 92199990453 - FR0000125486 0.00 3 124.74 2015-04-30 1.00000000 0.00 2 594.07 111.00 26.50 2 941.18 P 9.5170 0.00 -1 884.79 EUR ArcelorMittal 9.09 0.00 47.62 1 056.39 0.02 92199990457 - LU0323134006 0.00 1 056.39 2015-04-30 1.00000000 0.00 1 008.77

6.00 22.08 132.49 P 34.1200 0.00 72.23EUR APERAM - W/I 24.59 0.00 57.21 204.72 0.00 92199990515 - LU0569974404 0.00 204.72 2015-04-30 1.00000000 0.00 147.51 29.00 3.40 98.60 P 7.1760 0.00 109.50EUR DISTRIBUIDORA INTERN 5.63 0.00 44.92 208.10 0.00 92199990541 - ES0126775032 0.00 208.10 2015-04-30 1.00000000 0.00 163.18 80.00 13.11 1 049.05 P 13.4900 0.00 30.15EUR SUEDZUCKER AG 13.11 0.00 30.15 1 079.20 0.02 92199990600 - DE0007297004 0.00 1 079.20 2015-04-30 1.00000000 0.00 1 049.05 2.00 44.10 88.20 P 53.6400 0.00 19.08EUR Groupe FNAC 41.50 0.00 24.28 107.28 0.00 92199990657 - FR0011476928 0.00 107.28 2015-04-30 1.00000000 0.00 83.00 9.00 61.21 550.86 P 47.1600 0.00 -126.42EUR OSRAM LICHT AG 32.76 0.00 129.60 424.44 0.01 92199990702 - DE000LED4000 0.00 424.44 2015-04-30 1.00000000 0.00 294.84 11.00 3.96 43.57 P 7.0110 0.00 33.55EUR

MOTA -ENGIL AFRICA B

7.16 0.00 -1.62 77.12 0.00 92199990742 - NL0010969408 0.00 77.12 2015-04-30 1.00000000 0.00 78.74

1.1.1.3 - Fora Zona Euro

6 022.13

0.09

75.00 100.58 7 543.72 P 91.4500 0.00 -684.97SEK ERICSSON LM-B SHS 94.35 0.00 -217.50 735.44 0.01 92199990019 - SE0000108656 0.00 6 858.75 2015-04-30 0.10722596 0.00 7 076.25 38.00 11.42 433.99 P 15.1450 0.00 141.52GBP GLAXO SMITHKLINE PLC 13.76 0.00 52.63 791.95 0.01 92199990064 - GB0009252882 0.00 575.51 2015-04-30 1.37608367 0.00 522.88 30.00 28.30 849.12 P 72.9000 0.00 1 337.88CHF NESTLE SA 72.95 0.00 -1.50 2 085.64 0.03 92199990128 - CH0038863350 0.00 2 187.00 2015-04-30 0.95365249 0.00 2 188.50 40.00 28.85 1 153.94 P 28.8500 0.00 0.06GBP RIO TINTO PLC 30.00 0.00 -46.00 1 588.00 0.02 92199990204 - GB0007188757 0.00 1 154.00 2015-04-30 1.37608367 0.00 1 200.00 54.00 23.82 1 286.32 P 11.0500 0.00 -689.62GBP ANGLO AMERICAN PLC 12.01 0.00 -51.57 821.11 0.01 92199990225 - GB00B1XZS820 0.00 596.70 2015-04-30 1.37608367 0.00 648.27

1.1.2 - Fundos de Investimento de Acções

6 832.21

0.10

1.1.2.1 - Unidades de Participação - Acções

6 832.21

0.10

40.00 72.50 2 899.92 P 79.0436 292.98 261.82EUR

Montepio Euro Telcos

70.42 292.98 344.92 3 454.72 0.05 141650999993 - PTYMGLLM0008 0.00 3 161.74 2015-04-30 1.00000000 0.00 2 816.82 40.00 72.40 2 896.08 P 77.4842 278.12 203.29EUR Montepio E Utilities 70.85 278.12 265.47 3 377.49 0.05 141650999994 - PTYMGMLM0007 0.00 3 099.37 2015-04-30 1.00000000 0.00 2 833.90

1.1.4 - Outros Títulos de Rendimento Variável

142 467.92

2.12

1.50 83835.20 125 752.80 P 94978.6100 0.00 16 715.12EUR NovEnergia II 94978.61 0.00 0.00 142 467.92 2.12 92199990258 - LU0296922973 0.00 142 467.92 2015-04-30 1.00000000 0.00 142 467.92

1.2 - Fora da Europa

474 254.10

7.06

1.2.1 - EUA

363 911.91

5.42

1.2.1.1 - Acções EUA

857.08

0.01

19.00 0.00 0.00 P 50.5900 0.00 961.21USD

VERIZON COM INC-XLON

47.02 0.00 67.83 857.08 0.01 92199990718 - US92343V1044 0.00 961.21 2015-04-30 0.89166295 0.00 893.38

1.2.1.2 - Merrill Lynch/BGF

95 867.76

1.43

1.2.1.2.1 - Unidades de Participação

95 867.76

1.43

1 207.00 51.37 62 008.48 P 54.5400 0.00 3 821.30EUR

BGF US BASIC VAL A2H

52.95 0.00 1 921.46 65 829.78 0.98 94199990213 - LU0200685153 0.00 65 829.78 2015-04-30 1.00000000 0.00 63 908.32 1 666.00 16.70 27 820.28 P 18.0300 0.00 2 217.70EUR BGF US FLEXIBLE A2H 17.94 0.00 155.22 30 037.98 0.45 94199990214 - LU0200684693 0.00 30 037.98 2015-04-30 1.00000000 0.00 29 882.76

1.2.1.3 - Morgan Stanley

90 016.92

1.34

1.2.1.3.1 - Unidades de Participação

90 016.92

1.34

1 323.00 58.46 77 342.58 P 68.0400 0.00 12 674.34EUR MS US ADVANT ZH 63.03 0.00 6 628.23 90 016.92 1.34 94199990215 - LU0360484769 0.00 90 016.92 2015-04-30 1.00000000 0.00 83 388.69

1.2.1.4 - Outros

177 170.15

2.64

51.00 1714.71 87 450.21 P 1856.3600 0.00 7 224.15EUR ALLIANZ RCM US WT H 1808.61 0.00 2 435.25 94 674.36 1.41 94199990216 - IE00B4L9GL64 0.00 94 674.36 2015-04-30 1.00000000 0.00 92 239.11 6 161.00 12.74 78 467.58 P 13.3900 0.00 4 028.21EUR Fidelity America AH 13.08 0.00 1 879.91 82 495.79 1.23 94199990257 - LU0945775517 0.00 82 495.79 2015-04-30 1.00000000 0.00 80 615.88

1.2.3 - Mercados Emergentes

110 342.19

1.64

1.2.3.2 - América Latina

31 334.00

0.47

844.00 23.36 19 714.16 P 19.3500 0.00 -3 382.76 USD HSBC Brazil $ 19.76 0.00 -341.87 14 562.10 0.22 94199990063 - LU0196696701 0.00 16 331.40 2015-04-30 0.89166295 0.00 16 673.27 218.00 69.41 15 130.29 P 63.4200 0.00 -1 304.73 USD BGF Latin American $ 62.94 0.00 105.73 12 327.74 0.18 94199990069 - LU0072463663 0.00 13 825.56 2015-04-30 0.89166295 0.00 13 719.83

53.00 107.05 5 673.69 P 94.0400 0.00 -689.57USD PARVEST EQ BRA$ 93.30 0.00 38.99 4 444.16 0.07 94199990199 - LU0265266980 0.00 4 984.12 2015-04-30 0.89166295 0.00 4 945.13

1.2.3.3 - Ásia

79 008.19

1.18

1.2.3.3.1 - Ásia Ex-Japan

49 321.79

0.73

2 611.00 17.24 45 023.98 P 18.8900 0.00 4 297.81EUR

HSBC ASIA EXJPN AHC

17.12 0.00 4 609.17 49 321.79 0.73 94199990218 - LU0212851702 0.00 49 321.79 2015-04-30 1.00000000 0.00 44 712.62

1.2.3.3.2 - China

29 686.40

0.44

315.00 74.01 23 311.58 P 105.6930 0.00 9 981.73USD HSBC Chinese $ 83.29 0.00 7 056.64 29 686.40 0.44 94199990045 - LU0039217434 0.00 33 293.30 2015-04-30 0.89166295 0.00 26 236.66

2 - Títulos de Dívida

5 111 549.41

76.09

2.1 - Obrigações Taxa Fixa

3 140 441.87

46.75

2.1.1 - Divida Pública (ou equiparada)

2 508 674.04

37.34

2.1.1.1 - Nacionais

2 170 467.99

32.31

271 700.00 88.15% 239 509.41 B 119.0850% 11 398.00 84 044.54EUR OT 4.8% 15JUN20 - Tx. 4.80% 115.98% 0.00 8 425.69 334 951.95 4.99 11100018048 - PTOTECOE0029 0.00 323 553.95 2015-04-30 1.00000000 0.00 315 128.26 471 100.00 91.00% 428 694.93 B 114.9850% 743.33 112 999.41EUR OT 3.85% 04/15/21 - Tx. 3.85% 110.86% 0.00 19 412.60 542 437.67 8.07 11175900944 - PTOTEYOE0007 0.00 541 694.34 2015-04-30 1.00000000 0.00 522 281.74 983 700.00 122.33% 1 203 358.36 B 130.3050% 11 268.08 78 451.93EUR PGB 5.65% 15/02/24 - Tx. 5.65% 124.41% 0.00 57 966.99 1 293 078.37 19.25 81199990355 - PTOTEQOE0015 0.00 1 281 810.29 2015-04-30 1.00000000 0.00 1 223 843.30

2.1.1.2 - Europa Zona Euro

338 206.05

5.03

137 000.00 120.37% 164 908.75 B 131.1050% 1 803.90 14 705.10EUR SPGB 5.4% 31/01/23 - Tx. 5.40% 130.33% 0.00 1 061.75 181 417.75 2.70 81199990340 - ES00000123U9 0.00 179 613.85 2015-04-30 1.00000000 0.00 178 552.10 118 000.00 129.39% 152 677.25 B 131.4450% 1 683.20 2 427.85EUR SPGB 5.85% 31/1/2022 - Tx. 5.85% 131.33% 0.00 135.70 156 788.30 2.33 81199990432 - ES00000123K0 0.00 155 105.10 2015-04-30 1.00000000 0.00 154 969.40

2.1.2 - Outros Emitentes (credit)

631 767.83

9.40

2.1.2.1 - Nacionais

307 653.17

4.58

100 000.00 105.80% 105 800.00 B 102.6910% 2 265.41 -3 109.00 EUR CXGD 5.625% 04/12/15 - Tx. 5.63% 104.03% 0.00 -1 336.00 104 956.41 1.56 81599990903 - PTCG25OM0029 0.00 102 691.00 2015-04-30 1.00000000 0.00 104 027.00 100 000.00 102.16% 102 155.00 B 101.9480% 573.29 -207.00EUR BCPPL 3.375 27/02/17 - Tx. 3.38% 102.16% 0.00 -207.00 102 521.29 1.53 81599991017 - PTBITIOM0057 0.00 101 948.00 2015-04-30 1.00000000 0.00 102 155.00

100 000.00 99.82% 99 815.00 B 97.6080% 2 567.47 -2 207.00 EUR BESPL 2.625%08/05/17 - Tx. 2.63% 94.60% 0.00 3 007.00 100 175.47 1.49 81599991029 - PTBEQKOM0019 0.00 97 608.00 2015-04-30 1.00000000 0.00 94 601.00

2.1.2.2 - Europa Zona Euro

317 077.16

4.72

100 000.00 99.79% 99 790.00 B 101.7670% 1 956.16 1 977.00EUR BKIR 2% 05/08/2017 - Tx. 2.00% 101.78% 0.00 -12.00 103 723.16 1.54 81599991038 - XS1059619012 0.00 101 767.00 2015-04-30 1.00000000 0.00 101 779.00 100 000.00 99.58% 99 577.00 B 104.9820% 2 316.44 5 405.00EUR CAIXAB 2.375% 05/19 - Tx. 2.38% 104.21% 0.00 769.00 107 298.44 1.60 81599991042 - ES0314970239 0.00 104 982.00 2015-04-30 1.00000000 0.00 104 213.00 100 000.00 104.53% 104 530.00 B 105.3220% 733.56 792.00EUR ELEPOR 2.625%18/1/22 - Tx. 2.63% 104.53% 0.00 792.00 106 055.56 1.58 81599991110 - XS1111324700 0.00 105 322.00 2015-04-30 1.00000000 0.00 104 530.00

2.1.2.3 - Fora Zona Euro

7 037.50

0.10

7 000.00 100.03% 7 002.10 B 100.2960% 16.78 18.62EUR NAB 0.875%20/01/2022 - Tx. 0.88% 100.03% 0.00 18.62 7 037.50 0.10 81599991106 - XS1167352613 0.00 7 020.72 2015-04-30 1.00000000 0.00 7 002.10

2.2 - Obrigações Taxa Indexada

1 971 107.54

29.34

2.2.1 - Divida Pública (ou equiparada)

69 777.65

1.04

2.2.1.2 - Europa Zona Euro

69 777.65

1.04

3 000.00 100.00% 3 000.00 B 104.1000% 46.00 123.00EUR KFW Float 24/07/2018 - Tx. 2.00% 103.55% 0.00 16.50 3 169.00 0.05 81299990598 - DE000A0E83L5 0.00 3 123.00 2015-04-30 1.00000000 0.00 3 106.50 65 000.00 99.98% 64 989.60 B 102.1050% 240.40 1 378.65EUR CCTS Float 12/20 - Tx. 0.98% 99.54% 0.00 1 667.25 66 608.65 0.99 91399901456 - IT0005056541 0.00 66 368.25 2015-04-30 1.00000000 0.00 64 701.00

2.2.2 - Outros Emitentes (credit)

1 901 329.89

28.30

2.2.2.1 - Nacionais

105 128.64

1.56

100 000.00 102.50% 102 500.00 I 102.9000% 1 646.23 400.00EUR GALPPL Flt 20/05/17 - Tx. 3.68% 101.58% 0.00 1 318.57 104 546.23 1.56 31560033585 - PTGALGOM0001 0.00 102 900.00 1.00000000 0.00 101 581.43 588.03 100.16% 588.95 B 99.0054% 0.23 -6.77EUR PELICAN 1 A - Tx. 0.31% 98.66% 0.00 2.03 582.41 0.01 91399904420 - XS0159861078 0.00 582.18 2015-04-30 1.00000000 0.00 580.15

2.2.2.2 - Europa Zona Euro

775 156.85

11.54

50 000.00 95.00% 47 500.00 B 95.3170% 7.37 158.50EUR BBVSM Float 10/20 - Tx. 0.31% 94.50% 0.00 408.50 47 665.87 0.71 91365010925 - XS0230662628 0.00 47 658.50 2015-04-30 1.00000000 0.00 47 250.00 200 000.00 100.45% 200 900.00 B 101.1170% 128.50 1 334.00EUR ARRFP Flaot 31/03/19 - Tx. 0.77% 100.71% 0.00 810.00 202 362.50 3.01 91399900570 - FR0011884899 0.00 202 234.00 2015-04-30 1.00000000 0.00 201 424.00

100 000.00 99.90% 99 900.00 B 100.1180% 65.24 218.00EUR TELEFO Flt 26/03/16 - Tx. 0.67% 100.10% 0.00 21.00 100 183.24 1.49 91399904311 - XS1046491657 0.00 100 118.00 2015-04-30 1.00000000 0.00 100 097.00 53 000.00 93.43% 49 519.85 B 99.9260% 49.80 3 440.93EUR Deutsche Bk 09/20/16 - Tx. 0.83% 99.75% 0.00 95.40 53 010.58 0.79 91399906018 - DE0003933685 0.00 52 960.78 2015-04-30 1.00000000 0.00 52 865.38 15 000.00 99.48% 14 922.00 B 99.5500% 0.17 10.50EUR DB Float 08/01/2016 - Tx. 0.02% 99.32% 0.00 35.10 14 932.67 0.22 91399906046 - XS0457738176 0.00 14 932.50 2015-04-30 1.00000000 0.00 14 897.40 100 000.00 105.29% 105 290.00 B 104.7310% 303.33 -559.00EUR UCGIM Float 21/09/18 - Tx. 2.80% 105.29% 0.00 -559.00 105 034.33 1.56 91399950430 - IT0004633001 0.00 104 731.00 2015-04-30 1.00000000 0.00 105 290.00 50 000.00 97.62% 48 810.00 B 99.2170% 19.53 798.50EUR ISPIM Float 18/05/17 - Tx. 0.20% 98.67% 0.00 272.00 49 628.03 0.74 91399993648 - XS0300196879 0.00 49 608.50 2015-04-30 1.00000000 0.00 49 336.50 100 000.00 101.35% 101 350.00 B 100.9610% 348.23 -389.00EUR ISPIM Float 28/05/18 - Tx. 2.02% 101.35% 0.00 -389.00 101 309.23 1.51 91399993677 - XS0365303675 0.00 100 961.00 2015-04-30 1.00000000 0.00 101 350.00 100 000.00 101.73% 101 730.00 B 100.8590% 171.40 -871.00EUR ISPIM Float 18/09/17 - Tx. 1.44% 100.61% 0.00 251.00 101 030.40 1.50 91399993678 - XS0620177088 0.00 100 859.00 2015-04-30 1.00000000 0.00 100 608.00

2.2.2.3 - Fora Zona Euro

1 021 044.40

15.20

150 000.00 98.92% 148 375.00 B 99.6690% 41.46 1 128.50EUR HSBC Float 09/20 - Tx. 0.32% 99.21% 0.00 696.00 149 544.96 2.23 91396040022 - XS0230370339 0.00 149 503.50 2015-04-30 1.00000000 0.00 148 807.50 50 000.00 102.70% 51 350.00 B 106.0110% 493.06 1 655.50EUR CBAAU Float 08/12/18 - Tx. 2.50% 105.72% 0.00 143.50 53 498.56 0.80 91399000203 - XS0556969854 0.00 53 005.50 2015-04-30 1.00000000 0.00 52 862.00 100 000.00 100.00% 100 000.00 B 100.9940% 145.25 994.00EUR MS Float 19/11/19 - Tx. 0.75% 99.94% 0.00 1 053.00 101 139.25 1.51 91399004629 - XS1139320151 0.00 100 994.00 2015-04-30 1.00000000 0.00 99 941.00 50 000.00 100.34% 50 171.00 B 101.0230% 1.04 340.50EUR GS Float 29/10/2019 - Tx. 0.75% 100.21% 0.00 408.50 50 512.54 0.75 91399004721 - XS1130101931 0.00 50 511.50 2015-04-30 1.00000000 0.00 50 103.00 50 000.00 100.75% 50 377.32 B 101.7880% 4.16 516.68EUR GS Float 26/07/2022 - Tx. 1.00% 100.75% 0.00 516.68 50 898.16 0.76 91399004722 - XS1173867323 0.00 50 894.00 2015-04-30 1.00000000 0.00 50 377.32 50 000.00 95.20% 47 600.00 B 99.6110% 7.16 2 205.50EUR BAC Float 23/05/2017 - Tx. 0.74% 99.00% 0.00 305.50 49 812.66 0.74 91399005884 - XS0301928262 0.00 49 805.50 2015-04-30 1.00000000 0.00 49 500.00 50 000.00 95.45% 47 725.00 B 99.4940% 37.07 2 022.00EUR BAC Float 28/03/2018 - Tx. 0.86% 98.75% 0.00 374.00 49 784.07 0.74 91399005889 - XS0249443879 0.00 49 747.00 2015-04-30 1.00000000 0.00 49 373.00 50 000.00 99.82% 49 910.00 B 100.0170% 159.43 98.50EUR CTIGROUP 4.75% 02/19 - Tx. 1.45% 99.82% 0.00 98.50 50 167.93 0.75 91399006291 - XS0185490934 0.00 50 008.50 2015-04-30 1.00000000 0.00 49 910.00 75 000.00 95.68% 71 758.50 B 99.6040% 0.00 2 944.50EUR CITIGROUP Flt31/5/17 - Tx. 0.71% 98.88% 0.00 540.75 74 703.00 1.11 91399006305 - XS0303074883 0.00 74 703.00 2015-04-30 1.00000000 0.00 74 162.25

30 000.00 95.00% 28 500.00 B 99.9110% 17.98 1 473.30EUR LLOYDS Float 29/3/16 - Tx. 0.70% 99.54% 0.00 110.10 29 991.28 0.45 91399912266 - XS0249026682 0.00 29 973.30 2015-04-30 1.00000000 0.00 29 863.20 200 000.00 99.49% 198 976.00 B 99.8700% 275.33 764.00EUR Lloyds Float 01/9/16 - Tx. 0.84% 99.74% 0.00 270.00 200 015.33 2.98 91399912287 - XS0192560653 0.00 199 740.00 2015-04-30 1.00000000 0.00 199 470.00 50 000.00 104.36% 52 177.50 B 102.9350% 8.24 -710.00EUR RBS Flt 25/07/2017 - Tx. 1.98% 103.30% 0.00 -181.00 51 475.74 0.77 91399990914 - XS0552018037 0.00 51 467.50 2015-04-30 1.00000000 0.00 51 648.50 110 000.00 97.28% 107 007.50 B 99.5000% 50.92 2 442.50EUR RBS Flt 08/10/2019 - Tx. 0.77% 98.86% 0.00 709.50 109 500.92 1.63 91399990915 - NL0009062215 0.00 109 450.00 2015-04-30 1.00000000 0.00 108 740.50

3 - Imobiliário

166 016.08

2.47

3.2 - Fundos de Investimento Imobiliário

166 016.08

2.47

3 285.00 9.09 29 844.41 P 9.4305 0.00 1 134.78EUR VIP 9.41 0.00 64.38 30 979.19 0.46 14165010301 - PTVIPAHM0005 0.00 30 979.19 2015-04-30 1.00000000 0.00 30 914.81 18 535.00 5.67 105 150.07 P 3.4235 0.00 -41 695.50 EUR Vision Escrt-FII.Fec 3.39 0.00 537.51 63 454.57 0.94 14265099991 - PTNOFAIM0008 0.00 63 454.57 2015-04-30 1.00000000 0.00 62 917.06 355.00 10.14 3 599.92 P 9.8500 0.00 -103.17EUR

DEGI Global Business

10.14 0.00 -103.17 3 496.75 0.05 94199990117 - DE000A0ETSR6 0.00 3 496.75 2015-04-30 1.00000000 0.00 3 599.92 148.00 86.83 12 850.22 I 85.1970 0.00 -241.07EUR Segurfondo Inversion 86.83 0.00 -241.07 12 609.15 0.19 94199990119 - ES0175444035 0.00 12 609.15 1.00000000 0.00 12 850.22 862.00 32.14 27 704.68 P 31.5900 0.00 -474.10EUR CS EUROREAL A 32.14 0.00 -474.10 27 230.58 0.41 94299990016 - DE0009805002 0.00 27 230.58 2015-04-30 1.00000000 0.00 27 704.68 516.00 54.36 28 049.76 P 54.7400 0.00 196.08EUR Deka ImmobilienGloba 54.36 0.00 196.08 28 245.84 0.42 94299990018 - DE0007483612 0.00 28 245.84 2015-04-30 1.00000000 0.00 28 049.76

5 - Liquidez

600 894.78

8.94

5.3 - Depósitos à Ordem

600 894.78

8.94

1 435.00 121 435.00 1.81 0.00 EUR DP - EUR DP CEMG 1,75%27AGO15 1.75 120 000.00 1.00000000 0.00 200 000.00 2.98 0.00 EUR DP - EUR DP CEMG 0,15%01JUN15 0.15 200 000.00 1.00000000 0.00 314 596.40 4.68 0.00 EUR 02.000401.8 - CEMG (EUR) DEPOSITOS ORDEM 314 596.40 1.00000000 0.00 76.74 0.00 0.00 EUR 060017042157Popular - Banco Popular

0.00 -35 393.26 -0.53 0.00 EUR 07.000401.8 - Montepio EURO DEPOSITOS ORDEM -35 393.26 1.00000000 0.00 179.75 0.00 0.00 EUR 39867200BANIFP - BANIF Privado

DEPOSITOS ORDEM 179.75 1.00000000 0.00 0.15 0.00 0.00 EUR 02.000401.8 - CEMG (EUR) Pendente de Juro DO 0.15 1.00000000

6 - Encargos

-10 370.57

-0.15

6.1 - Comissionamento

-10 370.57

-0.15

0.00 -826.53 -0.01 0.00 EUR BD - EUR Comissao de Depósito -826.53 1.00000000 0.00 -6 975.66 -0.10 0.00 EUR CG - EUR Comissao de Gestao -6 975.66 1.00000000 0.00 -9.25 0.00 0.00 EUR IS - EUR

Taxa Supervisão ISP -9.25 1.00000000

0.00 -2 017.20 -0.03

0.00

EUR XA - EUR

Custos com Auditoria -2 017.20 1.00000000

0.00 -541.93 -0.01 0.00 EUR AC - EUR Auditoria 2015 -541.93 1.00000000

7 - Pendentes e Deved/Cred

-8 481.55

-0.13

7.1 - Devedores e Credores

-8 770.29

-0.13

0.00 -769.41 -0.01 0.00 EUR IP - EUR IMPOSTOS -769.41 1.00000000 0.00 -8 000.88 -0.12 0.00 EUR RT - EUR Respons. Terceiros -8 000.88 1.00000000

7.2 - Operações a Liquidar

288.74

0.00

0.00 280.82 0.00 0.00 EUR 02.000401.8 - CEMG (EUR) PENDENTE A LIQUIDAR 280.82 1.00000000 0.00 7.92 0.00 0.00 USD 11.001022.0 - CEMG (USD) PENDENTE A LIQUIDAR 8.88 0.89166295

TOTAL:

6 718 158.45

100.00

Valor da Unidade de Participação bruta em EUR: Valor da Unidade de Participação líquida em EUR: 16.0179

Número de Unidades de Participação: 419 414.925800 16.0503

Imposto Retido por UP: 0.0324 Imposto Retido Global: 10 078.1900

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: