# AXA IM WAVE CAT BONDS FUND
## SCHEDULE OF INVESTMENTS AS OF 30 June 2021 (continued)
Long Term Bonds and Notes - 98.11% (31 December 2020: 90.02%) 
(continued)
% of
Principal
Amount Security
United Kingdom - 1.81% (31 December 2020: 0.95%)
Coupon
Rate
Maturity
Date
Fair value
USD
Net Assets
1,000,000 Atlas Capital UK 2018	6.14%	09/06/2025	1,003,500	0.81
1,200,000 Sussex Capital UK	7.83%	08/01/2025 	1,230,480	1.00
	2,233,980	1.81
| United States - 9.55% (31 December 2020: 7.47%) |
| --- |
| 2,286,000 | Tailwind | 7.41% | 08/01/2022 | 2,268,398 | 1.84 |
| 2,385,000 | Tailwind | 9.15% | 08/01/2022 | 2,345,647 | 1.90 |
| 1,700,000 | Tailwind | 11.11% | 08/01/2022 | 1,653,420 | 1.34 |
| 3,000,000 | United States Treasury Bill | 0.00% | 22/07/2021 | 2,999,930 | 2.44 |
| 1,000,000 | United States Treasury Bill | 0.00% | 05/08/2021 | 999,962 | 0.81 |
| 1,500,000 | United States Treasury Bill | 0.00% | 12/08/2021 	1,499,917	1.22 |
|  |  |  | 	11,767,274	9.55 |
| Total Long Term Bonds and Notes | 	120,891,616	98.11 |
| Total Transferable Securities | 	120,891,616	98.11 |
| Total Investments excluding Financial Derivative Instruments | 	120,891,616	98.11 |
| Financial Derivative Instruments - (0.54)% (31 December 2020: 2.28%) |  |
| Open Forward Foreign Currency Exchange Contracts - (0.54)% (31 December 2020: 2.28%) |
| Settlement | Currency | Amount | Currency | Amount | Unrealised Gain/(Loss) | % of Net |
| Date | Bought | Bought | Sold | Sold | USD | Assets |
| 16/07/2021 | USD | 849,844 | EUR | 714,000 | 2,861 | 0.00 |
| 16/07/2021 | USD | 2,938,238 | EUR | 2,451,522 | 30,122 | 0.03 |
| 21/07/2021 | CHF | 77,039 | USD | 83,766 | (379) | (0.00) |
| 21/07/2021 | CHF | 17,032,311 | USD | 18,519,521 | (83,890) | (0.07) |
| 21/07/2021 | EUR | 33 | USD | 39 | - | 0.00 |
| 21/07/2021 | EUR | 166 | USD | 199 | (2) | (0.00) |
| 21/07/2021 | EUR | 260 | USD | 310 | (2) | (0.00) |
| 21/07/2021 | EUR | 870 | USD | 1,044 | (11) | (0.00) |
| 21/07/2021 | EUR | 4,140 | USD | 5,040 | (128) | (0.00) |
| 21/07/2021 | EUR | 19,478 | USD | 23,362 | (254) | (0.00) |
| 21/07/2021 | EUR | 19,524 | USD | 23,417 | (255) | (0.00) |
| 21/07/2021 | EUR | 19,673 | USD | 23,596 | (257) | (0.00) |
| 21/07/2021 | EUR | 22,158 | USD | 26,596 | (309) | (0.00) |
| 21/07/2021 | EUR | 35,000 | USD | 42,011 | (488) | (0.00) |
| 21/07/2021 | EUR | 35,000 | USD | 42,558 | (1,035) | (0.00) |
| 21/07/2021 | EUR | 126,000 | USD | 153,207 | (3,724) | (0.00) |
| 21/07/2021 | EUR | 1,794,419 | USD | 2,152,244 | (23,398) | (0.02) |
| 21/07/2021 | EUR | 3,379,177 | USD | 4,053,019 | (44,063) | (0.03) |
| 21/07/2021 | EUR | 3,750,795 | USD | 4,498,740 | (48,908) | (0.04) |
| 21/07/2021 | EUR | 15,943,854 | USD | 19,123,217 | (207,900) | (0.17) |
| 21/07/2021 | EUR | 25,728,460 | USD | 30,858,972 | (335,486) | (0.27) |
| 21/07/2021 | GBP | 158 | USD | 218 | - | 0.00 |
| 21/07/2021 | GBP | 20,292 | USD | 27,998 | 36 | 0.00 |
| 21/07/2021 | USD | 3,237 | CHF | 2,977 | 14 | 0.00 |
| 21/07/2021 | USD | 39,496 | CHF | 36,206 | 306 | 0.00 |
| 21/07/2021 | USD | 572,565 | CHF | 514,500 | 15,674 | 0.01 |
| 21/07/2021 | USD | 690,481 | CHF | 635,069 | 3,088 | 0.00 |
| 21/07/2021 | USD | 374 | EUR | 312 | 4 | 0.00 |

Translation (ENFR, 2021-06-30):
# AXA IM WAVE CAT BONDS FUND
TABLEAU DES INVESTISSEMENTS AU 30 juin 2021 (suite)
| Obligations et billets à long terme - 98,11 % (31 décembre 2020 : 90,02 %) (suite) |
| --- |
| Montant en principal | Titre | Taux de coupon | Date d’échéance | Juste valeur USD | % de l’actif net |
| Bermudes - 66,68 % (31 décembre 2020 : 56,55 %) (suite) |
| 1 853 000 | Phoenician | 3,06 % | 14/12/2023 | 1 888 207 | 1,53 |
| 3 420 000 | Sanders | 2,93 % | 06/12/2021 | 3 401 190 | 2,76 |
| 750 000 | Sanders | 4,55 % | 07/04/2024 | 760 275 | 0,62 |
| 1 571 000 | Sierra | 3,30 % | 28/12/2022 | 1 590 323 | 1,29 |
| 844 000 | Sierra | 5,80 % | 28/12/2022 | 860 458 | 0,70 |
| 550 000 | Sierra | 2,70 % | 31/01/2025 | 553 960 | 0,45 |
| 1 688 000 | Titania | 4,52 % | 21/06/2024 | 1 691 376 | 1,37 |
| 1 643 000 | Torrey Pines | 4,00 % | 07/06/2029 | 1 649 079 | 1,34 |
| 1 946 000 | Torrey Pines | 5,25 % | 07/06/2029 | 1 953 395 | 1,59 |
| 687 000 | Umigame | 4,79 % | 07/04/2029 | 688 580 | 0,56 |
| 1 643 000 | Ursa | 5,80 % | 10/12/2022 | 1 686 211 | 1,37 |
| 1 429 000 | Ursa II | 3,81 % | 07/12/2023 | 1 476 729 | 1,20 |
| 1 429 000 | Ursa II | 6,31 % | 07/12/2023 | 1 475 728 | 1,20 |
| 1 529 000 | Ursa II | 6,25 % | 06/12/2028 | 1 550 253 | 1,26 |
| 1 683 000 | Vista | 0,50 % | 21/05/2024 | 1 692 761 | 1,37 |
| 341 000 | Wrigley | 2,44 % | 08/07/2025 | 341 443	 | 0,28 |
|  |  |  |  |    82 164 919	 | 66,68 |
| Îles Caïmans - 12,97 % (31 décembre 2020 : 13,98 %) |
| 818 000 | Caelus | 3,24 % | 07/06/2021 | 618 817 | 0,50 |
| 1 500 000 | Caelus | 4,08 % | 07/06/2021 | 295 500 | 0,24 |
| 1 185 000 | Caelus | 7,29 % | 07/06/2021 | 20 737 | 0,02 |
| 778 000 | Caelus | 5,55 % | 07/06/2023 | 797 761 | 0,65 |
| 1 042 000 | Caelus | 5,55 % | 07/06/2024 | 1 077 324 | 0,87 |
| 308 000 | Caelus B | 0,55 % | 05/06/2024 | 18 295 | 0,01 |
| 250 000 | Caelus C | 0,55 % | 05/06/2024 | 18 750 | 0,01 |
| 1 438 000 | Long Point | 2,80 % | 01/06/2022 | 1 445 478 | 1,17 |
| 2 371 000 | Residential Reinsurance 2017 | 5,98 % | 06/12/2021 | 2 363 887 | 1,92 |
| 3 556 000 | Residential Reinsurance 2018 | 3,41 % | 06/06/2022 | 3 507 994 | 2,85 |
| 750 000 | Residential Reinsurance 2020 | 6,31 % | 06/12/2024 | 761 325 | 0,62 |
| 292 000 | Residential Reinsurance 2020 | 8,31 % | 06/12/2024 | 291 066 | 0,24 |
| 1 250 000 | Residential Reinsurance 2021 | 0,50 % | 06/06/2028 | 1 251 500 | 1,02 |
| 1 131 000 | Residential Reinsurance 2021 | 0,50 % | 06/06/2028 | 1 133 375 | 0,92 |
| 500 000 | Vitality | 1,65 % | 10/01/2022 | 494 350 | 0,40 |
| 1 909 000 | Vitality | 1,80 % | 10/01/2022 | 1 880 938	 | 1,53 |
|  |  |  |  |    15 977 097	 | 12,97 |
| International - 1,41 % (31 décembre 2020 : 7,10 %) |
|  | International Bank for Reconstruction |  |  |  |  |
| 1 429 000 | & Development | 3,64 % | 13/03/2024 | 1 439 717 | 1,17 |
|  | International Bank for Reconstruction |  |  |  |  |
| 292 000 | & Development | 6,64 % | 13/03/2024 | 295 650	 | 0,24 |
|  |  |  |  |     1 735 367	 | 1,41 |
| Irlande - 4,72 % (31 décembre 2020 : 3,97 %) |
| 2 000 000 | Atlas Capital Reinsurance 2020 | 8,32 % | 10/06/2024 | 2 100 400 | 1,70 |
| 750 000 | Azzurro | 4,50 % | 17/01/2024 | 892 894 | 0,72 |
| 1 668 000 | Lion II | 3,57 % | 15/07/2021 | 1 978 082 | 1,61 |
| 714 000 | Lion III | 0,50 % | 16/07/2025 | 848 257	 | 0,69 |
|  |  |  |  |     5 819 633	 | 4,72 |
| Singapour - 0,97 % (31 décembre 2020 : 0,00 %) |
| 1 188 000 | First Coast | 6,00 % | 07/04/2025 | 1 193 346	 | 0,97 |