# Portfolio analysis
## Sector breakdown
Sector over/underweight
Financials Consumer Goods Industrials Technology Health Care Basic Materials Oil & Gas
Consumer Services Telecoms
Utilities
-3%	-2%	-1%	0%	1%	2%	3%	4%

## Geographical breakdown
Country over/underweight
France Germany Netherlands Spain
Italy Belgium Ireland Finland Austria
Luxemburg
Portugal
-8%	-6%	-4%	-2%	0%	2%	4%	6%	8%	10%

## Average ESG score
10
8
6
4
2
0
| Environment score | Social score | Governance score | ESG score |
| --- | --- | --- | --- |
|  | Portfolio | Performance Indicator* |  |

Coverage of the portfolio as a value: Environment rating 100.0%, Social rating 100.0%, Governance rating 100.0%
Coverage of the performance indicator as a value: Environment rating 100.0%, Social rating 100.0%, Governance rating 100.0% The ESG rating is calculated on a scale of 0 to 10 using different weightings for each E, S and G rating depending on the sector.
| Main stocks |  |
| --- | --- |
| Equity |  | Weighting |  | Sector | Country | ESG score |
|  | Portfolio | Perf. indicator* | Spread |  |  | Portfolio |
| TOTAL SA | 6.23% | 3.40% | 2.83% | Oil & Gas | France | 6.7 |
| Allianz SE | 5.01% | 1.92% | 3.09% | Financials | Germany | 7.6 |
| SAP SE | 3.49% | 2.65% | 0.83% | Technology | Germany | 6.2 |
| LVMH Moet Hennessy Louis Vu... | 3.45% | 1.93% | 1.52% | Consumer Goods | France | 4.8 |
| Siemens AG | 3.23% | 2.26% | 0.97% | Industrials | Germany | 5.6 |
| L'Oreal SA | 3.05% | 1.21% | 1.84% | Consumer Goods | France | 9.6 |
| Unilever N.V. | 3.00% | 1.78% | 1.23% | Consumer Goods | Netherlands | 7.4 |
| Asml Holding NV | 2.94% | 1.80% | 1.15% | Technology | Netherlands | 4.9 |
| Ing Groep NV | 2.76% | 1.08% | 1.69% | Financials | Netherlands | 7.4 |
| Koninklijke Philips NV | 2.64% | 0.86% | 1.79% | Health Care | Netherlands | 3.3 |
| Number of Holdings | 50 | 302 |  |  |  |  |
| Turnover (1 rolling year) | 17.23% |  |  |  |  |  |
| Active Share | 60.15% |  |  |  |  |  |
| % Cash | 2.78% |  |  |  |  |  |

Top 5 overweight	Top 5 underweight
| Portfolio Performance Indicator* Spread |  | Portfolio Performance Indicator* Spread |
| --- | --- | --- |
| Allianz SE | 5.01% | 1.92% | 3.09% |  | Sanofi | 0.00% | 1.98% | -1.98% |
| TOTAL SA | 6.23% | 3.40% | 2.83% |  | Bayer AG | 0.00% | 1.78% | -1.78% |
| L'Oreal SA | 3.05% | 1.21% | 1.84% |  | BASF SE | 0.00% | 1.74% | -1.74% |
| Koninklijke Philips NV | 2.64% | 0.86% | 1.79% |  | Banco Santander SA | 0.00% | 1.64% | -1.64% |
| Intesa Sanpaolo SpA | 2.46% | 0.74% | 1.72% |  | Anheuser-Busch InBev SA | 0.00% | 1.45% | -1.45% |

Translation (ENFR, 2018-08-31):
# Analyse du portefeuille
Exposition sectorielle
Sur/sous-pondération sectorielle
Sociétés Financières Biens de Consommation Industries
Technologie Santé
Matériaux de Base Pétrole et Gaz
Services aux Consommateurs Télécommunications
Services aux Collectivités
-3%	-2%	-1%	0%	1%	2%	3%	4%
Exposition géographique
Sur/sous-pondération pays
France Allemagne Pays-Bas Espagne
Italie Belgique Irlande Finlande Autriche
Luxembourg
Portugal
-8%	-6%	-4%	-2%	0%	2%	4%	6%	8%	10%
Score ESG moyen
10
8
6
4
2
0
| Score Environnement | Score Social | Score Gouvernance | Score ESG |
| --- | --- | --- | --- |
|  | Portefeuille | Indicateur de performance* |  |

Couverture du Portefeuille en valeur: 100.0% score Environnement, 100.0% score Social, 100.0% score Gouvernance
Couverture de l'indicateur de performance en valeur: 100.0% score Environnement, 100.0% score Social, 100.0% score Gouvernance Le score ESG est calculé sur une échelle de 0 à 10 en utilisant différentes pondérations pour chaque score E, S et G selon le secteur.
| Les principales valeurs |  |
| --- | --- |
| Action |  | Pondération |  | Secteur | Pays | Score ESG |
|  | Portefeuille | Indice de perf.* | Ecart |  |  | Portefeuille |
| TOTAL SA | 6.23% | 3.40% | 2.83% | Pétrole et Gaz | France | 6.7 |
| Allianz SE | 5.01% | 1.92% | 3.09% | Sociétés Financières | Allemagne | 7.6 |
| SAP SE | 3.49% | 2.65% | 0.83% | Technologie | Allemagne | 6.2 |
| LVMH Moet Hennessy Louis Vu... | 3.45% | 1.93% | 1.52% | Biens de Consommation | France | 4.8 |
| Siemens AG | 3.23% | 2.26% | 0.97% | Industries | Allemagne | 5.6 |
| L'Oreal SA | 3.05% | 1.21% | 1.84% | Biens de Consommation | France | 9.6 |
| Unilever N.V. | 3.00% | 1.78% | 1.23% | Biens de Consommation | Pays-Bas | 7.4 |
| Asml Holding NV | 2.94% | 1.80% | 1.15% | Technologie | Pays-Bas | 4.9 |
| Ing Groep NV | 2.76% | 1.08% | 1.69% | Sociétés Financières | Pays-Bas | 7.4 |
| Koninklijke Philips NV | 2.64% | 0.86% | 1.79% | Santé | Pays-Bas | 3.3 |
| Nombre de lignes | 50 | 302 |  |  |  |  |
| Turnover (1 an glissant) | 17.23% |  |  |  |  |  |
| Active Share | 60.15% |  |  |  |  |  |
| % Liquidités | 2.78% |  |  |  |  |  |

5 principales surpondérations	5 principales sous-pondérations
| Portefeuille Indicateur de performance* Ecart |  | Portefeuille Indicateur de performance* Ecart |
| --- | --- | --- |
| Allianz SE | 5.01% | 1.92% | 3.09% |  | Sanofi | 0.00% | 1.98% | -1.98% |
| TOTAL SA | 6.23% | 3.40% | 2.83% |  | Bayer AG | 0.00% | 1.78% | -1.78% |
| L'Oreal SA | 3.05% | 1.21% | 1.84% |  | BASF SE | 0.00% | 1.74% | -1.74% |
| Koninklijke Philips NV | 2.64% | 0.86% | 1.79% |  | Banco Santander SA | 0.00% | 1.64% | -1.64% |
| Intesa Sanpaolo SpA | 2.46% | 0.74% | 1.72% |  | Anheuser-Busch InBev SA | 0.00% | 1.45% | -1.45% |