# Portfolio Analysis
## Asset Allocation (%)
0	10	20	30	40	50	60	70	80	90	100	110	120
| Investment Grade Credit Bonds | 17.02 | 16.53 | 16.68 | 19.64 | 23.11 | 23.01 | 22.77 | 22.39 | 22.66 | 25.14 | 24.33 | 24.72 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Emerging and High Yield Bonds | 30.97 | 29.95 | 30.25 | 26.17 | 25.53 | 25.60 | 26.13 | 25.28 | 26.18 | 26.23 | 26.23 | 26.43 |
| Index Linked Bonds | 5.25 | 5.16 | 5.23 | 5.04 | 5.10 | 5.26 | 5.09 | 4.97 | 0.41 | 0.13 | 0.12 | 0.12 |
| Cash | 7.48 | 6.46 | 4.97 | 6.12 | 3.45 | 2.22 | 3.25 | 5.35 | 2.32 | 2.97 | 5.68 | 7.99 |
| Diversification | 9.45 | 10.85 | 14.93 | 22.97 | 22.13 | 7.22 | 5.67 | 14.29 | 9.84 | 8.70 | 11.08 | 6.01 |
| Global Equities | 29.79 | 32.88 | 31.20 | 31.67 | 30.51 | 29.43 | 22.98 | 31.13 | 30.44 | 26.92 | 26.08 | 21.19 |
| Emerging and Commodities Equities | 4.42 | 4.26 | 4.27 | 4.31 | 4.28 | 4.26 | 4.22 | 4.08 | 3.93 | 4.11 | 5.83 | 7.43 |
| Real Estate and Healthcare Equity sector | 1.19 | 1.36 | 1.48 | 1.44 | 1.34 | 1.54 | 1.45 | 1.52 | 1.54 | 1.51 | 1.29 | 1.51 |


## Currency Breakdown (%)
70
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |  |  |
|  |  |  |  |  |

60
50
40
30
20
10
| 0 | EUR | USD | JPY | HKD | CHF | TWD | Other |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 59.83 | 19.13 | 7.31 | 2.29 | 1.86 | 1.17 | 8.41 |

| Equity : 26% of the Overall Portfolio |  |
| --- | --- |
| Sector Breakdown (%) |
|  | Portfolio |
| Financials | 6.56 |
| Health Care | 4.61 |
| Materials | 3.33 |
| Communication Services | 2.94 |
| Cons. stap. | 2.87 |
| IT | 1.55 |
| Real estate | 1.52 |
| Cons. disc. | 0.87 |
| Industrials | 0.75 |
| Energy | 0.71 |
| Utilities | 0.49 |
| MarketCap Breakdown (EUR - %) |  |

14
12
10
8
6
4
2
0	1bn To
3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Port.	0.44	0.44	2.33	6.26	11.84	4.83	4.29

## Other information
Portfolio
Current dividend yield (%)	5.73
Fixed Income : 52% of the Overall Portfolio

## Fund Key Metrics
Portfolio
Number of Holdings	490
Number of Issuers	338
Linear Average Rating	BBB-
Portfolio
Mod. Duration To Worst	2.85
Yield To Worst (%)	6.08
Fixed Income : 52% of the Overall Portfolio 
(Continued)

## Maturity Breakdown (%)
20
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |

16
12
8
4
0	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	1.75	15.67	15.00	8.19	4.81	4.90	6.83

## Rating Breakdown (%)
30
20
10
0	AAA	AA	A	BBB	BB	B	CCC	CC	C	D	NR
Portfolio	0.31	1.82	7.80	24.23	12.30	9.59	1.08	0.19	0.14	0.12	0.14

## Instrument Type Breakdown (%)
35
30
25
20
15
10
5
0	Industrials	Financial	Quasi & Foreign Government
Utility	Sovereign	Not Classified
Portfolio	32.48	15.64	5.48	2.81	0.66	0.08

Translation (ENFR, 2023-01-31):
# Analyse du portefeuille
## Répartition par classe d'actifs (%)
0	10	20	30	40	50	60	70	80	90	100	110	120
| Obligations d’entreprises investment grade | 17.02 | 16.53 | 16.68 | 19.64 | 23.11 | 23.01 | 22.77 | 22.39 | 22.66 | 25.14 | 24.33 | 24.72 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Obligations émergentes et à haut rendement | 30.97 | 29.95 | 30.25 | 26.17 | 25.53 | 25.60 | 26.13 | 25.28 | 26.18 | 26.23 | 26.23 | 26.43 |
| Obligations indexées | 5.25 | 5.16 | 5.23 | 5.04 | 5.10 | 5.26 | 5.09 | 4.97 | 0.41 | 0.13 | 0.12 | 0.12 |
| Liquidités | 7.48 | 6.46 | 4.97 | 6.12 | 3.45 | 2.22 | 3.25 | 5.35 | 2.32 | 2.97 | 5.68 | 7.99 |
| Diversification | 9.45 | 10.85 | 14.93 | 22.97 | 22.13 | 7.22 | 5.67 | 14.29 | 9.84 | 8.70 | 11.08 | 6.01 |
| Actions mondiales | 29.79 | 32.88 | 31.20 | 31.67 | 30.51 | 29.43 | 22.98 | 31.13 | 30.44 | 26.92 | 26.08 | 21.19 |
| Actions émergentes et liées aux matières premières | 4.42 | 4.26 | 4.27 | 4.31 | 4.28 | 4.26 | 4.22 | 4.08 | 3.93 | 4.11 | 5.83 | 7.43 |
| Actions du secteur immobilier et du secteur de la santé | 1.19 | 1.36 | 1.48 | 1.44 | 1.34 | 1.54 | 1.45 | 1.52 | 1.54 | 1.51 | 1.29 | 1.51 |


## Exposition par devise (%)
70
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |  |  |
|  |  |  |  |  |

60
50
40
30
20
10
0	EUR	USD	JPY	HKD	CHF	TWD	Autres
Portefeuille	59.83	19.13	7.31	2.29	1.86	1.17	8.41
Actions : 24% du portefeuille global

## Exposition sectorielle (%)
Portefeuille
| Finance | 6.56 |
| --- | --- |
| Santé | 4.61 |
| Matériaux | 3.33 |
| Services de Communication | 2.94 |
| Conso. Base | 2.87 |
| Technologie | 1.55 |
| Immobilier | 1.52 |
| Conso. cycl. | 0.87 |
| Industrie | 0.75 |
| Energie | 0.71 |
| Serv. aux collect. | 0.49 |
| Ventilation par capitalisation boursière (EUR - %) |  |

14
12
10
8
6
4
2
0	De 1 à
3 mds
De 3 à
5 mds
De 5 à
10 mds
De 10 à
25 mds
De 25 à
100 mds
De 100 à
250 mds
Plus de 250 mds
Port.	0.44	0.44	2.33	6.26	11.84	4.83	4.29

## Autres informations
Portefeuille
Current dividend yield (%)	5.73
Obligations : 52% du portefeuille global

## Caractéristiques du portefeuille
Portefeuille
Nombre de lignes	490
Nombre d'émetteurs	338
Rating moyen linéaire	BBB-
Portefeuille
Mod. Duration To Worst	2.85
Yield to worst (%)	6.08
Obligations : 52% du portefeuille global 
(suite)

## Exposition par maturité (%)
20
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |

16
12
8
4
0	0-1 an	1-3 ans	3-5 ans	5-7 ans	7-10 ans	10-20 ans	+ 20 ans
Portefeuille	1.75	15.67	15.00	8.19	4.81	4.90	6.83

## Exposition par rating (%)
30
20
10
0	AAA	AA	A	BBB	BB	B	CCC	CC	C	D	NR
Portefeuille	0.31	1.82	7.80	24.23	12.30	9.59	1.08	0.19	0.14	0.12	0.14

## Exposition par type d'instrument (%)
35
30
25
20
15
10
5
0	Industrie	Finance	Quasi & Foreign Government
Services aux Collectivités
Souverain	Hors catégorie
Portefeuille	32.48	15.64	5.48	2.81	0.66	0.08