# HOLDINGS: % OF PORTFOLIO
Main Holdings (%)
by Country (%)
Against Benchmark
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 11.99 |
| --- | --- |
| BNPP FLX I ABS ERP IG X C | 7.41 |
| EUROPEAN FINANCIAL STABILITY FACILITY 0.00 | 5.36 |
| EUROPEAN UNION 0.00 PCT 02-JUN-2028 | 3.35 |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 2.18 |
| PETROLEOS MEXICANOS 1.88 PCT 21-APR-2022 | 2.11 |
| FRANCE (REPUBLIC OF) 0.00 PCT 25-MAR-2025 | 1.76 |
| FRANCE (REPUBLIC OF) 1.75 PCT 25-JUN-2039 | 1.71 |
| ITALY (REPUBLIC OF) 9.00 PCT 01-NOV-2023 | 1.55 |
| ITALY (REPUBLIC OF) 1.65 PCT 01-MAR-2032 | 1.43 |
| No. of Holdings in Portfolio | 411 |

| Germany | 21.05 | + 2.08 |
| --- | --- | --- |
| France | 11.36 | - 10.84 |
| Supranational | 10.87 | + 5.29 |
| Italy | 8.87 | - 5.15 |
| Spain | 7.41 | - 2.59 |
| Eurolands | 7.41 | + 7.41 |
| United States | 5.80 | + 2.13 |
| Netherlands | 4.98 | + 0.04 |
| Belgium | 3.71 | - 0.14 |
| China | 2.57 | + 2.32 |
| Derivatives | -0.07 | - 0.07 |
| Forex contracts | -0.09 | - 0.09 |
| Other | 13.80 | - 2.72 |
| Cash | 2.34 | + 2.34 |
| Total | 100.00 |  |

by Rating (%)
by Currency (%)
Against Benchmark
| AAA | 28.43 |
| --- | --- |
| AA+ | 2.38 |
| AA | 12.91 |
| AA- | 4.01 |
| A- | 9.21 |
| BBB+ | 4.73 |
| BBB | 15.56 |
| BBB- | 3.63 |
| BB- | 2.62 |
| Other | 6.86 |
| Not rated | 7.49 |
| Derivatives | -0.07 |
| Forex contracts | -0.09 |
| Cash | 2.34 |
| Total | 100.00 |

| PLN | - | + 0.00 |
| --- | --- | --- |
| THB | - | + 0.00 |
| ZAR | - | + 0.00 |
| EUR | 98.02 | - 1.98 |
| USD | 1.09 | + 1.09 |
| SEK | 1.04 | + 1.04 |
| INR | 1.02 | + 1.02 |
| BRL | 0.51 | + 0.51 |
| CHF | 0.02 | + 0.02 |
| JPY | 0.02 | + 0.02 |
| Other | -1.72 | - 1.72 |
| Total | 100.00 |  |

Source of data: BNP Paribas Asset Management, as at 31.01.2022
Sources: Fitch, Moody’s, S&P. Ratings lower than BBB- refer to high-yield or speculative-grade bonds.
The above mentioned securities are for illustrative purpose only and do not constitute any investment recommendation.

Translation (ENFR, 2022-01-31):
# POSITIONS : % DU PORTEFEUILLE
Principales positions
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 11,99 |
| --- | --- |
| BNPP FLX I ABS ERP IG X C | 7,41 |
| EUROPEAN FINANCIAL STABILITY FACILITY 0.00 | 5,36 |
| EUROPEAN UNION 0.00 PCT 02-JUN-2028 | 3,35 |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 2,18 |
| PETROLEOS MEXICANOS 1.88 PCT 21-APR-2022 | 2,11 |
| FRANCE (REPUBLIC OF) 0.00 PCT 25-MAR-2025 | 1,76 |
| FRANCE (REPUBLIC OF) 1.75 PCT 25-JUN-2039 | 1,71 |
| ITALY (REPUBLIC OF) 9.00 PCT 01-NOV-2023 | 1,55 |
| ITALY (REPUBLIC OF) 1.65 PCT 01-MAR-2032 | 1,43 |
| Nb de positions dans le portefeuille | 411 |

par Notation
par Pays	Contre l'Indice
| Allemagne | 21,05 | + 2,08 |
| --- | --- | --- |
| France | 11,36 | - 10,84 |
| Supranational | 10,87 | + 5,29 |
| Italie | 8,87 | - 5,15 |
| Espagne | 7,41 | - 2,59 |
| Zone Euro | 7,41 | + 7,41 |
| États-Unis | 5,80 | + 2,13 |
| Pays-Bas | 4,98 | + 0,04 |
| Belgique | 3,71 | - 0,14 |
| Chine | 2,57 | + 2,32 |
| Produits dérivés | -0,07 | - 0,07 |
| Contrats de change | -0,09 | - 0,09 |
| Autres | 13,80 | - 2,72 |
| Liquidités | 2,34 | + 2,34 |
| Total | 100,00 |  |

par Devise	Contre l'Indice
| AAA | 28,43 |
| --- | --- |
| AA+ | 2,38 |
| AA | 12,91 |
| AA- | 4,01 |
| A- | 9,21 |
| BBB+ | 4,73 |
| BBB | 15,56 |
| BBB- | 3,63 |
| BB- | 2,62 |
| Autres | 6,86 |
| Non noté | 7,49 |
| Produits dérivés | -0,07 |
| Contrats de change | -0,09 |
| Liquidités | 2,34 |
| Total | 100,00 |

| PLN | - | + 0,00 |
| --- | --- | --- |
| THB | - | + 0,00 |
| ZAR | - | + 0,00 |
| EUR | 98,02 | - 1,98 |
| USD | 1,09 | + 1,09 |
| SEK | 1,04 | + 1,04 |
| INR | 1,02 | + 1,02 |
| BRL | 0,51 | + 0,51 |
| CHF | 0,02 | + 0,02 |
| JPY | 0,02 | + 0,02 |
| Autres | -1,72 | - 1,72 |
| Total | 100,00 |  |

Source : BNP Paribas Asset Management, en date du 31.01.2022
Sources : Fitch, Moody's, S&P. Les notations < BBB- correspondent à la catégorie de titres à haut rendement ou titres spéculatifs
Les titres ci-dessus sont mentionnés à titre d’information uniquement et ne doivent pas être considérés comme une recommandation d’investissement.