# CI-EUR - Eur | FIXED INCOME - CONVERTIBLE BONDS - EUROPE
Assets Under Management	108 M€
NAV per Unit	1,284.44€
Evolution vs M-1	1.06€
Morningstar™ Category: Convertible Bond - Europe 
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## Rating at 6/30/21

## Rating at 5/31/21

## Risk/return scale (¹)
| Fund | 2.5% | 1.5% | 2.8% | 0.1% | 2.3% | 8.4% | 7.6% | 7.8% | 28.4% |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Benchmark | 3.1% | 2.2% | 3.4% | 0.3% | 1.5% | 8.3% | 9.7% | 11.7% | 34.6% |


## The ISR label mentioned above is only valid within the EU.
| Portfolio Managers | Investment strategy |
| --- | --- |
| Olivier BECKER, Christophe SANCHEZ | The Fund’s objective is to outperform the benchmark index, the Exane ECI Euro Index, over a minimum investment horizon of two years, while taking ESG criteria into account. |
| Management company |
| Net annual performance (12-months rolling) |
| ODDO BHF Asset Management SAS |
| from | 7/29/16 | 7/31/17 | 7/31/18 | 7/31/19 | 7/31/20 |
| Key features | to | 7/31/17 | 7/31/18 | 7/31/19 | 7/31/20 | 7/30/21 |
| Benchmark Exane ECI Eurozone Recommended investment horizon: 2 Years Inception date (1st NAV): 8/16/12 Inception date of the fund: 9/14/00 | Fund | 2.2% | -2.1% | 0.0% | -0.7% | 8.4% |
| Benchmark | 4.2% | -2.3% | 1.1% | 0.1% | 8.3% |
| Calendar performance (from January 01 to December 31) |
| Legal structure | FCP |  | 2016 | 2017 | 2018 | 2019 | 2020 |
| ISIN code | FR0011294586 | Fund | -1.7% | -0.9% | -6.1% | 6.7% | 4.6% |
| Bloomberg code | ODDCONB FP |
| Benchmark | -1.1% | 0.0% | -5.2% | 7.6% | 6.1% |
| Currency | Euro |
| Dividend policy | Accumulation unit | Cumulative and annualized net returns |
| Minimum (initial) investment | 250000 EUR |  | Annualized performance | Cumulative performance |
| Later minimal subscription | 1 thousandth of a unit | 3 years	5 years  Inception 1 month	YTD	1 year	3 years	5 years  Inception Past performance is not an indication of future results. Performance may vary over time. |
| Management company (by delegation) | - |
| Custodian | ODDO BHF SCA, France (Paris) |
| Administration and Accounting | EFA |
| Net change in performance since inception (base 100) |
| Subscriptions/ redemptions | 11:15am D |
| Fund	Benchmark |
| NAV calculation frequency | Daily |
| Country of domicile | France |
| Management fees | Maximum 0.65% of the net assets, inclusive of tax. |
| Performance fees | N/A |
| Subscription fees | 4 % (maximum) |
| Redemption fees | Nil |
| Ongoing charges | 0.65 % |
| Transaction fees received by the Management Company | Transaction fees are listed in the prospectus and may be applied in addition to the fees shown above. |
| Annualized volatility |
| 1 year	3 years	5 years |
|  |  | Fund | 6.2% | 6.0% | 5.4% |
| Key indicators |
| Fund	Benchmark | Benchmark | 6.4% | 6.4% | 5.8% |
| Main portfolio derivatives |
| Product	Type	Exposure (%) |
| Put Euro Stoxx 50 (Eux) Dec21 P3800 | Equity Option | -2.9% |
| Put Euro Stoxx 50 (Eux) Mars22 P3850 | Equity Option | -2.5% |
| Call Euro Stoxx Banks (Eux) Sept21 C95 | Equity Option | 0.2% |

| Equity sensitivity | 38 | 43 |
| --- | --- | --- |
| Modified duration* | 2.6 | 2.8 |
| Average maturity (year) | 3.9 | 4.1 |


## New benchmark index since 02/01/2014. Previous benchmark index : Exane ECI eurozone.
*Definitions of the financial indicators used are available for download on the website www.am.oddo-bhf.com under the heading 'Regulatory information'. | Sources : ODDO BHF AM SAS, Bloomberg, Morningstar®

## Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score.
(1) Risk/return scale in a range from 1 (lowest risk) to 7 (highest risk). This indicator is not constant and is updated if the risk/reward profile of the fund changes over time. The lowest category does not mean a risk-free investment. Historical data, such as is used to calculate the risk/return ratio, may not be a reliable indication of the future risk profile of the Fund. There is no guarantee that the management objectives in terms of risk and return will actually be met.
Source MSCI. We use scopes 1 (direct emissions) and 2 (indirect emissions related to electricity, heat or steam consumption) to calculate the carbon intensity, expressed in tonnes of CO2 equivalent per million euros of revenues.Cash and other derivatives are not covered.

## Fund	Overweight	Underweight against benchmark
| Main portfolio holdings |
| --- |
|  | Weight in the fund (%) | Weight in the benchmark (%) | Country | Sector | ESG rank* |
| Cellnex Telecom Sa 1.50% 01/2026 | 4.73 | 1.92 | Spain | Telecoms | 4 |
| Worldline Sa/France 0.00% 07/2026 | 3.94 | 2.12 | France | IT | 4 |
| Amadeus It Group Sa 1.50% 04/2025 | 3.42 | 2.54 | Spain | IT | 4 |
| Safran Sa 0,00% 04/2028 | 3.38 |  | France | Industrials | 3 |
| Nexi Spa | 2.98 | 1.58 | Italy | IT | 4 |
| Electricite De France Sa 0.00% 09/2024 | 2.95 | 3.54 | France | Utilities | 2 |
| Leg Immobilien Ag 0.88% 09/2025 | 2.85 | 1.31 | Germany | Real Estate | 4 |
| Rag-Stiftung 0.00% 06/2026 | 2.82 | 1.50 | Germany | Materials | 5 |
| Deutsche Post Ag 0.05% 06/2025 | 2.74 | 3.14 | Germany | Industrials | 4 |
| Archer Obligations 0.00% 03/2023 | 2.73 | 1.77 | France | C. Discretionary | - |
| Number of holdings51 |  |
| Weight of combined convertible bonds (3):	0.6% |


## (3) This refers to Fund Manager ’s combined purchase of a traditional bond (or even cash) and an equity call option and not a structured product.
* : rebased on the rated part of the fund | In accordance with the update to our ESG integration policy published, the internal ESG rating scale now ranks the investment universe from 1 (High Risk) to 5 (Strong Opportunity) in ascending order.
The ESG approach consists in selecting companies with the best environmental, social and governance policies by favouring the best-rated issuers within an investment universe in terms of non-financial criteria (Best in Universe) and/or issuers showing an improvement in their ESG practices over time (Best Effort).

## Past performance is not an indication of future results. Performance may vary over time.
| SUSTAINABLE REPORT - OVERVIEW |
| --- |
| Weighted average ESG rank | Weighted average E,S and G rank* |
|  | Fund	Benchmark |  |
| July 2021 | July 2020 | July 2021 | July 2020 |
| ESG rank | 3.6 | 3.4 | 3.2 | 3.3 |
| ESG coverage** | 95.0% | 94.8% | 93.3% | 98.4% |


## In accordance with the update to our ESG integration policy, the internal ESG rating scale now ranks the investment universe from 1 (High Risk) to 5 (Strong Opportunity) in ascending order.

## Benchmark : Exane ECI Eurozone

## Fund	Benchmark

Translation (ENFR, 2021-07-30):
# CI-EUR - Eur | OBLIGATIONS - OBLIGATIONS CONVERTIBLES - EUROPE
## Le label ISR ci dessus mentionné est valable exclusivement au sein de l'UE.
|  | Fonds | Indicateur de référence |
| --- | --- | --- |
| Intensité carbone pondérée | 160,8 | 211,6 |
| Taux de couverture | 81,6% | 86,9% |

Source MSCI. nous retenons les scopes 1 (émissions directes) et 2 (émissions indirectes liées à la consommation d’électricité, de chaleur ou de vapeur) pour le calcul de l’intensité carbone, exprimée en tonnes équivalent CO2 par million d’euro de chiffres d’affaires. Le cash et autres produits dérivés ne sont pas couverts.

## Fonds	Sur-pondération	Sous-pondération par rapport à l'indice
| Principales lignes du portefeuille |
| --- |
|  | Poids dans le fonds (%) | Poids dans l'indicateur de référence* (%) | Pays | Secteur | Notation ESG* |
| Cellnex Telecom Sa 1.50% 01/2026 | 4,73 | 1,92 | Espagne | Telecoms | 4 |
| Worldline Sa/France 0.00% 07/2026 | 3,94 | 2,12 | France | IT | 4 |
| Amadeus It Group Sa 1.50% 04/2025 | 3,42 | 2,54 | Espagne | IT | 4 |
| Safran Sa 0,00% 04/2028 | 3,38 |  | France | Industrie | 3 |
| Nexi Spa | 2,98 | 1,58 | Italie | IT | 4 |
| Electricite De France Sa 0.00% 09/2024 | 2,95 | 3,54 | France | Utilities | 2 |
| Leg Immobilien Ag 0.88% 09/2025 | 2,85 | 1,31 | Allemagne | Immobilier | 4 |
| Rag-Stiftung 0.00% 06/2026 | 2,82 | 1,50 | Allemagne | Matériaux de Base | 5 |
| Deutsche Post Ag 0.05% 06/2025 | 2,74 | 3,14 | Allemagne | Industrie | 4 |
| Archer Obligations 0.00% 03/2023 | 2,73 | 1,77 | France | C. Discrétionnaire | - |
| Nombre de lignes51 |  |
| Poids des obligations convertibles composées (3):	0,6% |


## (3) Il s'agit de l'achat combiné par l'équipe de gestion d'une obligation traditionnelle (voire de cash) et d'une option d'achat d'action et non pas d'un produit structuré.
*le poids des titres couverts est rebasé à 100 | Conformément à la mise à jour de notre politique d’intégration ESG, l’échelle de notation interne ESG distribue désormais l’univers d’investissement des rangs 1 (risque élevé) à 5 (opportunité forte) de manière ascendante.
L’approche ESG consiste à sélectionner les entreprises ayant les meilleures pratiques environnementales, sociales ou de gouvernance en privilégiant les émetteurs les mieux notés d’un point de vue extra-financier au sein d’un univers d’investissement(Best-in-Universe) et/ou les émetteurs démontrant une amélioration de leur pratique ESG dans le temps (Best effort).

## Les performances passées ne présagent pas des performances futures et ne sont pas constantes dans le temps.
| REPORTING INVESTISSEMENT DURABLE - GENERAL |
| --- |
| Notation moyenne ESG | Notation moyenne E, S et G* |
|  | Fonds	Indicateur de référence |  |
| juillet 2021 | juillet 2020 | juillet 2021 | juillet 2020 |
| Notation ESG | 3,6 | 3,4 | 3,2 | 3,3 |
| Couverture ESG** | 95,0% | 94,8% | 93,3% | 98,4% |

Conformément à la mise à jour de notre politique d’intégration ESG, l’échelle de notation interne ESG distribue désormais l’univers d’investissement des rangs 1 (risque élevé) à 5 (opportunité forte) de manière ascendante.

## Indicateur de référence : Exane ECI Eurozone

## Fonds	Indicateur de référence