# Portfolio Analysis
## Asset Allocation (%)
0	10	20	30	40	50	60	70	80	90	100	110
| Equities | 72.08 | 68.98 | 69.68 | 64.89 | 45.72 | 48.78 | 26.51 | 36.55 | 35.59 | 34.75 | 32.02 | 34.59 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 1.88 | 1.90 | 2.96 | 5.43 | 6.67 | 6.57 | 6.65 | 6.83 | 6.71 | 6.76 | 9.21 | 7.05 |
| Bonds | 0.78 | 4.66 | 4.84 | 4.45 | 4.71 | 3.99 | 7.33 | 9.34 | 9.27 | 8.02 | 10.77 | 13.68 |
| Monetary | 25.26 | 24.47 | 22.52 | 25.23 | 42.90 | 40.65 | 59.52 | 47.29 | 48.42 | 50.47 | 48.00 | 44.68 |

28/02/2022
31/03/2022
29/04/2022
31/05/2022
30/06/2022
29/07/2022
31/08/2022
30/09/2022
31/10/2022
30/11/2022
30/12/2022
31/01/2023
For the Asset allocation, the equities derivatives exposure is included in the equities part . The counterpart of this exposure is included in the monetary part and gives an overall exposure of 100%.

## Currency Breakdown (%)
60
50
40
30
20
10
0	EUR	USD	JPY	GBP	AUD	SEK	Other
Portfolio	56.58	17.90	9.25	7.03	2.53	2.46	4.25
| Equity : 35% of the overall Portfolio |  |
| --- | --- |
| Sector Breakdown (%) |
|  | Portfolio |
| IT | 25.26 |
| Industrials | 18.49 |
| Financials | 15.76 |
| Cons. disc. | 12.04 |
| Health Care | 10.03 |
| Cons. stap. | 9.58 |
| Materials | 8.49 |
| Energy | 2.12 |
| Communication Services | 1.44 |
| Real estate | -0.75 |
| Not classified | -0.97 |
| Utilities | -1.49 |
| MarketCap Breakdown (EUR - %) |  |

33
30
27
24
21
18
15
12
9
6
3
0	0 To
250mn
250mn To 500mn
500mn To 1bn
1bn To 3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Port.	0.14	0.42	0.18	1.39	3.31	4.69	12.73	29.90	10.43	9.23
| Top 10 Holdings |  |
| --- | --- |
| Equity | Weighting (%) | Sector | Issuer country | Currency |
| Prysmian SpA | 2.40 | Industrials | European Economic Area | EUR |
| Keyence Corp | 1.84 | IT | Japan | JPY |
| Diageo PLC | 1.55 | Cons. stap. | Others | GBP |
| Nestle SA | 1.51 | Cons. stap. | European Economic Area | CHF |
| Roche Holding AG | 1.50 | Health Care | European Economic Area | CHF |
| Cie Financiere Richemont SA | 1.50 | Cons. disc. | European Economic Area | CHF |
| MSCI Inc | 1.43 | Financials | North America | USD |
| Moody's Corp | 1.42 | Financials | North America | USD |
| Check Point Software Technologies Ltd | 1.30 | IT | Emerging Markets | USD |
| MasterCard Inc | 1.24 | IT | North America | USD |
| Total (%) | 15.70 |  |  |  |

Companies shown are for illustrative purposes only at the date of this report and may no longer be in the portfolio later. It should not be considered a recommendation to purchase or sell any security.
Fixed Income : 14% of the overall portfolio
| Fund Key Metrics |  |
| --- | --- |
|  | Portfolio |  |  | Portfolio |
| Number of Holdings | 109 | Mod. Duration |  | 4.64 |
| Number of Issuers | 74 | Yield To Worst (%) |  | 5.10 |
| Linear Average Rating | BBB+ |  |  |  |
| Top 10 Holdings |  |  |  |  |
| Name | Weighting (%) | Issuer country | Modified duration | Contribution |
| German Inflation Linked Bond 0.1% 04/15/2026 | 0.41 | European Economic Area | 3.3 | 0.00 |
| F00008649 IRS EUR R F 2.60650 | 0.32 | European Economic Area | 10.0 | 0.00 |
| France Government Bond OAT 1.85% 07/25/2027 | 0.30 | European Economic Area | 4.4 | 0.00 |
| HSBC Holdings PLC VAR 11/13/2026 | 0.26 | Others | 2.7 | 0.00 |
| US Treasury Note 4.5% 11/30/2024 | 0.24 | North America | 1.8 | 0.00 |
| F00008692 IRS USD R F 2.45300 | 0.24 | North America | 5.0 | 0.00 |
| F00008705 IRS EUR R F 2.60500 | 0.23 | European Economic Area | 5.0 | 0.00 |
| F00008688 IRS EUR R F 2.60300 | 0.21 | European Economic Area | 5.0 | 0.00 |
| Total SA VAR PERP | 0.19 | European Economic Area | 0.3 | 0.00 |
| UK Gilt Inflation Linked 0.125% 03/22/2026 | 0.19 | Others | 3.2 | 0.00 |
| Total (%) | 2.58 |  |  |  |

Companies shown are for illustrative purposes only at the date of this report and may no longer be in the portfolio later. It should not be considered a recommendation to purchase or sell any security.

## Maturity Breakdown (%)
5
4
3
2
1
0	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	0.55	2.73	3.95	2.61	2.22	1.25	1.00

## Rating Breakdown (%)
8
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |  |  |  |  |  |  |

6
4
2
| 0 | AAA | AA | A | BBB | BB | B | CCC | CC | C | D | NR |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 0.74 | 1.54 | 1.99 | 6.39 | 1.83 | 0.77 | 0.10 | 0.05 | 0.03 | 0.01 | 0.98 |


## Instrument Type Breakdown (%)
5
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |

4
3
2
1
0	Industrials	Financial	Sovereign	Quasi & Foreign
Government
Utility	Not Classified	Fund
Portfolio	4.30	4.12	2.19	1.62	1.28	0.77	0.03
Diversification : 7% of the overall portfolio

## Top 10 Holdings
| Equity | Weighting (%) | Issuer country | Currency |
| --- | --- | --- | --- |
| iShares Physical Gold ETC | 4.94 | European Economic Area | USD |
| AXA WF Dynamic Optimal Income | 1.03 | European Economic Area | USD |
| AXA IM WAVe Cat Bonds Fund | 0.66 | Others | USD |
| AXA IM WAVe Cat Bonds Fund | 0.41 | Others | EUR |
| Total (%) | 7.05 |  |  |

Companies shown are for illustrative purposes only at the date of this report and may no longer be in the portfolio later. It should not be considered a recommendation to purchase or sell any security.

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
| Actions | 72.08 | 68.98 | 69.68 | 64.89 | 45.72 | 48.78 | 26.51 | 36.55 | 35.59 | 34.75 | 32.02 | 34.59 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 1.88 | 1.90 | 2.96 | 5.43 | 6.67 | 6.57 | 6.65 | 6.83 | 6.71 | 6.76 | 9.21 | 7.05 |
| Obligations | 0.78 | 4.66 | 4.84 | 4.45 | 4.71 | 3.99 | 7.33 | 9.34 | 9.27 | 8.02 | 10.77 | 13.68 |
| Monétaire | 25.26 | 24.47 | 22.52 | 25.23 | 42.90 | 40.65 | 59.52 | 47.29 | 48.42 | 50.47 | 48.00 | 44.68 |

28/02/2022
31/03/2022
29/04/2022
31/05/2022
30/06/2022
29/07/2022
31/08/2022
30/09/2022
31/10/2022
30/11/2022
30/12/2022
31/01/2023
Pour l'Evolution de la composition, l'exposition des produits de type dérivés actions est incluse dans la partie actions. La contrepartie de cette exposition est incluse dans la partie monétaire et permet d'obtenir une exposition totale à 100%.

## Exposition par devise (%)
60
50
40
30
20
10
0	EUR	USD	JPY	GBP	AUD	SEK	Autres
Portefeuille	56.58	17.90	9.25	7.03	2.53	2.46	4.25
Actions : 35% du portefeuille global

## Exposition sectorielle (%)
Portefeuille
| Technologie | 25.26 |
| --- | --- |
| Industrie | 18.49 |
| Finance | 15.76 |
| Conso. cycl. | 12.04 |
| Santé | 10.03 |
| Conso. Base | 9.58 |
| Matériaux | 8.49 |
| Energie | 2.12 |
| Services de Communication | 1.44 |
| Immobilier | -0.75 |
| Non Classé | -0.97 |
| Serv. aux collect. | -1.49 |
| Ventilation par capitalisation boursière (EUR - %) |  |

33
30
27
24
21
18
15
12
9
6
3
0	De 0 à
250 mns
De 250 à
500 mns
De 500 mns
à 1 md
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.	0.14	0.42	0.18	1.39	3.31	4.69	12.73	29.90	10.43	9.23
| 10 principaux titres |  |
| --- | --- |
| Action | Pondération (%) | Secteur | Pays émetteur | Devise |
| Prysmian SpA | 2.40 | Industrie | Pays membres de la zone EEE | EUR |
| Keyence Corp | 1.84 | Technologie | Japon | JPY |
| Diageo PLC | 1.55 | Conso. Base | Autres | GBP |
| Nestle SA | 1.51 | Conso. Base | Pays membres de la zone EEE | CHF |
| Roche Holding AG | 1.50 | Santé | Pays membres de la zone EEE | CHF |
| Cie Financiere Richemont SA | 1.50 | Conso. cycl. | Pays membres de la zone EEE | CHF |
| MSCI Inc | 1.43 | Finance | Amérique du Nord | USD |
| Moody's Corp | 1.42 | Finance | Amérique du Nord | USD |
| Check Point Software Technologies Ltd | 1.30 | Technologie | Marchés émergents | USD |
| MasterCard Inc | 1.24 | Technologie | Amérique du Nord | USD |
| Total (%) | 15.70 |  |  |  |

Les informations sur cette société sont données à titre illustratif uniquement, sont valables à la date du reporting et ne constituent pas une recommandation à l’achat ou à la vente. Il est possible que cette entreprise ne soit plus présente en portefeuille à une date ultérieure.
Obligations : 14% du portefeuille global
| Caractéristiques du portefeuille |  |
| --- | --- |
|  | Portefeuille |  |  | Portefeuille |
| Nombre de lignes | 109 | Mod. Duration |  | 4.64 |
| Nombre d'émetteurs | 74 | Yield to worst (%) |  | 5.10 |
| Rating moyen linéaire | BBB+ |  |  |  |
| 10 principaux titres |  |  |  |  |
| Libellé | Pondération (%) | Pays émetteur | Sensibilité | Contribution |
| German Inflation Linked Bond 0.1% 04/15/2026 | 0.41 | Pays membres de la zone EEE | 3.3 | 0.00 |
| F00008649 IRS EUR R F 2.60650 | 0.32 | Pays membres de la zone EEE | 10.0 | 0.00 |
| France Government Bond OAT 1.85% 07/25/2027 | 0.30 | Pays membres de la zone EEE | 4.4 | 0.00 |
| HSBC Holdings PLC VAR 11/13/2026 | 0.26 | Autres | 2.7 | 0.00 |
| US Treasury Note 4.5% 11/30/2024 | 0.24 | Amérique du Nord | 1.8 | 0.00 |
| F00008692 IRS USD R F 2.45300 | 0.24 | Amérique du Nord | 5.0 | 0.00 |
| F00008705 IRS EUR R F 2.60500 | 0.23 | Pays membres de la zone EEE | 5.0 | 0.00 |
| F00008688 IRS EUR R F 2.60300 | 0.21 | Pays membres de la zone EEE | 5.0 | 0.00 |
| Total SA VAR PERP | 0.19 | Pays membres de la zone EEE | 0.3 | 0.00 |
| UK Gilt Inflation Linked 0.125% 03/22/2026 | 0.19 | Autres | 3.2 | 0.00 |
| Total (%) | 2.58 |  |  |  |

Les informations sur cette société sont données à titre illustratif uniquement, sont valables à la date du reporting et ne constituent pas une recommandation à l’achat ou à la vente. Il est possible que cette entreprise ne soit plus présente en portefeuille à une date ultérieure.

## Exposition par maturité (%)
5
4
3
2
1
0	0-1 an	1-3 ans	3-5 ans	5-7 ans	7-10 ans	10-20 ans	+ 20 ans
Portefeuille	0.55	2.73	3.95	2.61	2.22	1.25	1.00

## Exposition par rating (%)
8
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |  |  |  |  |  |  |

6
4
2
| 0 | AAA | AA | A | BBB | BB | B | CCC | CC | C | D | NR |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 0.74 | 1.54 | 1.99 | 6.39 | 1.83 | 0.77 | 0.10 | 0.05 | 0.03 | 0.01 | 0.98 |


## Exposition par type d'instrument (%)
5
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |

4
3
2
1
| 0 | Industrie | Finance | Souverain | Quasi & Foreign Government | Services aux Collectivités | Hors catégorie | Fonds |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 4.30 | 4.12 | 2.19 | 1.62 | 1.28 | 0.77 | 0.03 |

Diversification : 7% du portefeuille global

## 10 principaux titres
| Action | Pondération (%) | Pays émetteur | Devise |
| --- | --- | --- | --- |
| iShares Physical Gold ETC | 4.94 | Pays membres de la zone EEE | USD |
| AXA WF Dynamic Optimal Income | 1.03 | Pays membres de la zone EEE | USD |
| AXA IM WAVe Cat Bonds Fund | 0.66 | Autres | USD |
| AXA IM WAVe Cat Bonds Fund | 0.41 | Autres | EUR |
| Total (%) | 7.05 |  |  |

Les informations sur cette société sont données à titre illustratif uniquement, sont valables à la date du reporting et ne constituent pas une recommandation à l’achat ou à la vente. Il est possible que cette entreprise ne soit plus présente en portefeuille à une date ultérieure.