# Portfolio Analysis
## Asset Allocation (%)
50
40
30
20
10
0	30/04/2021	28/05/2021	30/06/2021
| Equity (100%<delta<75%) | 30.45 | 26.92 | 25.02 |
| --- | --- | --- | --- |
| Mixed Equity (75%<delta<50%) | 44.10 | 43.55 | 45.32 |
| Mixed Bonds (50%<delta<25%) | 19.26 | 23.68 | 24.50 |
| Bonds ( 25%<delta<0%) | 6.18 | 5.86 | 5.15 |


## Historical delta of the fund over 1 year
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |

62.50
60.00
57.50
55.00
52.50
50.00
31/07/20
31/08/20
30/09/20
31/10/20
30/11/20
31/12/20
31/01/21 28/02/21
31/03/21
30/04/21
31/05/21
30/06/21
| Sector Breakdown (%) |  |  |  | Geographical Breakdown (%) |  |
| --- | --- | --- | --- | --- | --- |
|  | Portfolio | Benchmark |  |  | Portfolio | Benchmark |
| Information Technology | 30.56 | 24.52 |  | United States | 40.86 | 46.12 |
| Consumer Discretionary | 21.16 | 17.10 |  | France | 12.25 | 8.99 |
| Industrials | 12.65 | 7.86 |  | Germany | 7.00 | 7.42 |
| Communication Services | 11.08 | 9.27 |  | Cayman Islands | 5.57 | 7.52 |
| Health Care | 10.82 | 10.51 |  | Japan | 4.72 | 5.15 |
| Materials | 4.95 | 5.08 |  | Spain | 4.40 | 2.22 |
| Utilities | 3.47 | 4.31 |  | Netherlands | 3.44 | 3.57 |
| Real Estate | 2.96 | 5.12 |  | Italy | 3.22 | 2.60 |
| Energy | 1.43 | 1.64 |  | United Kingdom | 2.84 | 2.91 |
| Financials | 0.95 | 2.56 |  | China | 2.24 | 0.45 |
| Not classified | 0.00 | 10.44 |  | South Korea | 2.12 | 0.71 |
| Consumer Staples | 0.00 | 1.60 |  | Israel | 1.59 | 1.14 |
|  |  |  |  | Other | 9.74 | 11.20 |
| Rating breakdown |  |  |  |  |  |  |
| 100 |  |  |  |  |  |  |

80
60
40
20
0	AA	A+	A	A-	BBB+	BBB	BBB-	BB+	BB	BB-	B+	B-	NR
Portfolio	1.61	1.09	-	5.85	3.12	6.13	6.43	1.18	0.83	1.87	-	-	71.88
Benchmark	0.33	-	1.32	3.73	3.70	2.64	3.96	1.91	0.64	1.13	1.87	1.14	77.64

## 10 Largest Holdings
Name	Weighting (%)	Currency	Geography
Portfolio	Benchmark	Relative
STMicroelectronics NV 08/04/2025	1.61	0.44	1.17	USD	Netherlands
Meituan Dianping 0.01% 04/27/2027	1.58	0.79	0.79	USD	Cayman Islands
Amadeus IT Holding SA 1.5% 04/09...	1.54	0.59	0.95	EUR	Spain
Palo Alto Networks Inc 0.75% 07/...	1.49		-	1.49	USD	United States JPMorgan Chase Bank NA 06/10/2024	1.48		-	1.48	EUR	United States Singapore Airlines Ltd 1.625% 12...	1.46	0.34	1.11	SGD	Singapore Sika AG	1.40		-	1.40	CHF	Switzerland Pioneer Natural Resources Co 0.2...	1.38		-	1.38	USD	United States LG Display Co Ltd 1.5% 08/22/2024	1.29	0.45	0.84	USD	South Korea
Zalando SE 0.05% 08/06/2025	1.27	0.38	0.88	EUR	Germany
Total (%)	14.50	3.00
Source(s): AXA Investment Managers - GICS as at 30/06/2021
For further information please visit www.axa-im.com

Translation (ENFR, 2021-06-30):
# Analyse du portefeuille
## Répartition par classe d'actifs (%)
50
40
30
20
10
0	30/04/2021	28/05/2021	30/06/2021
| Action (100%<delta<75%) | 30.45 | 26.92 | 25.02 |
| --- | --- | --- | --- |
| Mixte Action (75%<delta<50%) | 44.10 | 43.55 | 45.32 |
| Mixte Obligataire (50%<delta<25%) | 19.26 | 23.68 | 24.50 |
| Obligataire ( 25%<delta<0%) | 6.18 | 5.86 | 5.15 |


## Historique du delta du fonds sur 1 an glissant
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |

62.50
60.00
57.50
55.00
52.50
50.00
31/07/20
31/08/20
30/09/20
31/10/20
30/11/20
31/12/20
31/01/21 28/02/21
31/03/21
30/04/21
31/05/21
30/06/21
|  | Portefeuille | Indice de réference |  |  | Portefeuille | Indice de réference |
| --- | --- | --- | --- | --- | --- | --- |
| Technologie | 30.56 | 24.52 |  | Etats-Unis | 40.86 | 46.12 |
| Biens de conso. Cycliques | 21.16 | 17.10 |  | France | 12.25 | 8.99 |
| Industrie | 12.65 | 7.86 |  | Allemagne | 7.00 | 7.42 |
| Services de Communication | 11.08 | 9.27 |  | Iles Caïmans | 5.57 | 7.52 |
| Santé | 10.82 | 10.51 |  | Japon | 4.72 | 5.15 |
| Matériaux | 4.95 | 5.08 |  | Espagne | 4.40 | 2.22 |
| Services aux collectivités | 3.47 | 4.31 |  | Pays-Bas | 3.44 | 3.57 |
| Immobilier | 2.96 | 5.12 |  | Italie | 3.22 | 2.60 |
| Energie | 1.43 | 1.64 |  | Royaume-Uni | 2.84 | 2.91 |
| Finance | 0.95 | 2.56 |  | Chine | 2.24 | 0.45 |
| Non Classés | 0.00 | 10.44 |  | Corée du sud | 2.12 | 0.71 |
| Biens de conso. de base | 0.00 | 1.60 |  | Israel | 1.59 | 1.14 |
|  |  |  |  | Autres | 9.74 | 11.20 |
| Exposition par rating |  |  |  |  |  |  |
| 100 |  |  |  |  |  |  |


## Exposition sectorielle (%)	Exposition géographique (%)
| 80 |  |
| --- | --- |
| 60 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 40 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 20 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 0 | AA | A+ | A | A- | BBB+ | BBB | BBB- | BB+ | BB | BB- | B+ | B- | NR |  |
| Portefeuille	1.61 | 1.09 | - | 5.85 | 3.12 | 6.13 | 6.43 | 1.18 | 0.83 | 1.87 | - | -	71.88 |
| Benchmark	0.33 | - | 1.32 | 3.73 | 3.70 | 2.64 | 3.96 | 1.91 | 0.64 | 1.13 | 1.87 | 1.14	77.64 |
| Les 10 principales lignes |  |  |  |  |  |
| Libellé |  |  | Pondération (%) | Devise | Géographie |
|  | Portefeuille | Benchmark | Relative |  |  |
| STMicroelectronics NV 08/04/2025 | 1.61 | 0.44 | 1.17 | USD | Pays-Bas |
| Meituan Dianping 0.01% 04/27/2027 | 1.58 | 0.79 | 0.79 | USD | Iles Caïmans |
| Amadeus IT Holding SA 1.5% 04/09... | 1.54 | 0.59 | 0.95 | EUR | Espagne |
| Palo Alto Networks Inc 0.75% 07/... | 1.49 | - | 1.49 | USD | Etats-Unis |
| JPMorgan Chase Bank NA 06/10/2024 | 1.48 | - | 1.48 | EUR | Etats-Unis |
| Singapore Airlines Ltd 1.625% 12... | 1.46 | 0.34 | 1.11 | SGD | Singapour |
| Sika AG | 1.40 | - | 1.40 | CHF | Suisse |
| Pioneer Natural Resources Co 0.2... | 1.38 | - | 1.38 | USD | Etats-Unis |
| LG Display Co Ltd 1.5% 08/22/2024 | 1.29 | 0.45 | 0.84 | USD | Corée du sud |
| Zalando SE 0.05% 08/06/2025 | 1.27 | 0.38 | 0.88 | EUR | Allemagne |
| Total (%) | 14.50 | 3.00 |  |  |  |

Source(s) : AXA Investment Managers - GICS au 30/06/2021
Pour plus d'information merci de consulter www.axa-im.com