OVHaiLLM/Flipper huggingface dataset:
| Top 10 holdings | (%) | Country breakdown | (%)  Sector breakdown | (%) |
| --- | --- | --- | --- | --- |
| Swire Properties | 5.0 | Japan | 38.7  Real Estate | 91.8 |
| New World Development | 4.9 | Hong Kong | 22.2  Cash | 3.6 |
| Industrial & Infrastructure Fund Investment | 4.5 | Australia | 12.8  Industrials | 2.9 |
| Japan Metropolitan Fund Invest | 4.4 | Singapore | 11.7  Information Technology | 1.7 |
| Nomura Real Estate Master Fund | 4.3 | China | 6.5 |  |
| Sino Land | 3.9 | United Kingdom | 2.4 |  |
| Nomura Real Estate | 3.8 | India | 2.1 |  |
| Vicinity Centres | 3.6 | Cash | 3.6 |  |
| LaSalle Logiport REIT | 3.4 |  |  |  |
| CK Asset | 3.4 |  |  |  |
| Total number of positions | 34 |  |  |  |

Translation (ENFR, 2021-07-31):
| Top 10 des sociétés de portefeuille | (%) | Répartition géographique | (%) Ventilation sectorielle | (%) |
| --- | --- | --- | --- | --- |
| Swire Properties | 5.0 | Japon | 38.7  Immobilier | 91.8 |
| New World Development | 4.9 | Hong-Kong | 22.2  Liquidités | 3.6 |
| Industrial & Infrastructure Fund Investment | 4.5 | Australie | 12.8  Industrie | 2.9 |
| Japan Metropolitan Fund Invest | 4.4 | Singapour | 11.7 Technologies de l'Information | 1.7 |
| Nomura Real Estate Master Fund | 4.3 | Chine | 6.5 |  |
| Sino Land | 3.9 | Royaume-Uni | 2.4 |  |
| Nomura Real Estate | 3.8 | Inde | 2.1 |  |
| Vicinity Centres | 3.6 | Liquidités | 3.6 |  |
| LaSalle Logiport REIT | 3.4 |  |  |  |
| CK Asset | 3.4 |  |  |  |
| Nombre total de positions | 34 |  |  |  |
# Past performance is not a guide to future performance. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.
See next page for breakdowns and risks.
| Top 10 holdings | (%) | Country breakdown | (%) | Sector breakdown | (%) |
| --- | --- | --- | --- | --- | --- |
| Roche | 5.5 | Italy | 17.5 | Consumer Discretionary | 18.8 |
| Novo Nordisk | 5.0 | Germany | 17.4 | Financials | 16.1 |
| Stellantis | 4.5 | United Kingdom | 14.3 | Communication Services | 14.1 |
| BAWAG Group | 4.2 | Switzerland | 11.3 | Health Care | 12.3 |
| Nestlé | 3.6 | France | 9.2 | Industrials | 10.7 |
| Worldline | 3.1 | Netherlands | 7.7 | Information Technology | 9.0 |
| Delivery Hero | 3.1 | Spain | 6.7 | Consumer Staples | 8.7 |
| Cellnex Telecom | 3.1 | Denmark | 5.0 | Utilities | 4.0 |
| CNH Industrial | 2.9 | Austria | 4.2 | Materials | 3.5 |
| Nexi | 2.8 | Sweden | 4.1 | Cash | 2.7 |
| Total number of positions | 43 | Cash | 2.7 |  |  |

Translation (ENFR, 2021-07-31):
# Les performances passées ne préjugent pas des performances futures. La valeur d’un investissement et ses revenus peuvent augmenter ou diminuer et vous pourriez ne pas récupérer le montant investi à l’origine.
Veuillez vous reporter à la page suivante pour nos répartitions et risques.
| Top 10 des sociétés de portefeuille | (%) | Répartition géographique | (%) | Ventilation sectorielle | (%) |
| --- | --- | --- | --- | --- | --- |
| Roche | 5.5 | Italie | 17.5 | Consommation Discrétionnaire | 18.8 |
| Novo Nordisk | 5.0 | Allemagne | 17.4 | Sociétés Financières | 16.1 |
| Stellantis | 4.5 | Royaume-Uni | 14.3 | Services de communication | 14.1 |
| BAWAG Group | 4.2 | Suisse | 11.3 | Soins de Santé | 12.3 |
| Nestlé | 3.6 | France | 9.2 | Industrie | 10.7 |
| Worldline | 3.1 | Pays-Bas | 7.7 | Technologies de l'Information | 9.0 |
| Delivery Hero | 3.1 | Espagne | 6.7 | Consommation de base | 8.7 |
| Cellnex Telecom | 3.1 | Danemark | 5.0 | Services aux Collectivités | 4.0 |
| CNH Industrial | 2.9 | Autriche | 4.2 | Matériaux | 3.5 |
| Nexi | 2.8 | Suède | 4.1 | Liquidités | 2.7 |
| Nombre total de positions | 43 | Liquidités | 2.7 |  |  |
| Top 10 holdings | (%) | Top 10 countries | (%) | Top 10 sectors | (%) |
| --- | --- | --- | --- | --- | --- |
| Van Lanschot Kempen | 3.7 | United Kingdom | 21.4 | Industrials | 32.8 |
| TKH Group | 2.7 | Germany | 16.6 | Consumer Services | 15.0 |
| Aareal Bank | 2.5 | France | 12.1 | Consumer Goods | 12.3 |
| Dfds | 2.0 | Netherlands | 9.5 | Core Financials | 10.8 |
| BFF Bank | 1.6 | Sweden | 8.5 | Technology | 8.1 |
| FLEX LNG | 1.4 | Italy | 6.1 | Financial Services | 7.9 |
| Fnac Darty | 1.4 | Belgium | 4.3 | Basic Materials | 3.4 |
| Grenergy Renovables | 1.3 | Spain | 4.1 | Health Care | 3.0 |
| Crest Nicholson | 1.3 | Ireland | 3.7 | Utilities | 2.3 |
| Nexans | 1.3 | Denmark | 3.1 | Energy | 2.0 |
| Total number of positions | 119 | Cash | 0.4 |  |  |

Translation (ENFR, 2021-09-30):
| Top 10 des sociétés de portefeuille | (%) | Top 10 des pays | (%) | Top 10 des secteurs | (%) |
| --- | --- | --- | --- | --- | --- |
| Van Lanschot Kempen | 3.7 | Royaume-Uni | 21.4 | Industrie | 32.8 |
| TKH Group | 2.7 | Allemagne | 16.6 | Services aux consommateurs | 15.0 |
| Aareal Bank | 2.5 | France | 12.1 | Biens de consommation | 12.3 |
| Dfds | 2.0 | Pays-Bas | 9.5 | Core Financials | 10.8 |
| BFF Bank | 1.6 | Suède | 8.5 | Technologie | 8.1 |
| FLEX LNG | 1.4 | Italie | 6.1 | Services financiers | 7.9 |
| Fnac Darty | 1.4 | Belgique | 4.3 | Matériaux de base | 3.4 |
| Grenergy Renovables | 1.3 | Espagne | 4.1 | Soins de Santé | 3.0 |
| Crest Nicholson | 1.3 | Irlande | 3.7 | Services aux Collectivités | 2.3 |
| Nexans | 1.3 | Danemark | 3.1 | Énergie | 2.0 |
| Nombre total de positions | 119 | Liquidités | 0.4 |  |  |
| Top 10 holdings | (%) | Country breakdown | (%) | Sector breakdown | (%) |
| --- | --- | --- | --- | --- | --- |
| Toyota Motor | 7.5 | Japan | 93.2 | Consumer Discretionary | 21.0 |
| Sony Group | 6.3 | Cash | 6.8 | Information Technology | 17.7 |
| Tokio Marine | 4.9 |  |  | Industrials | 15.4 |
| Shin-Etsu Chemical | 4.4 |  |  | Communication Services | 11.3 |
| SoftBank Group | 4.4 |  |  | Health Care | 9.3 |
| Mitsubishi | 4.0 |  |  | Financials | 8.2 |
| Nintendo | 3.7 |  |  | Cash | 6.8 |
| Renesas Electronics | 3.6 |  |  | Consumer Staples | 6.0 |
| Olympus | 3.4 |  |  | Materials | 4.4 |
| Nitori | 3.3 |  |  |  |  |
| Total number of positions | 30 |  |  |  |  |

Translation (ENFR, 2021-07-31):
| Top 10 des sociétés de portefeuille | (%) | Répartition géographique | (%) | Ventilation sectorielle | (%) |
| --- | --- | --- | --- | --- | --- |
| Toyota Motor | 7.5 | Japon | 93.2 | Consommation Discrétionnaire | 21.0 |
| Sony Group | 6.3 | Liquidités | 6.8 | Technologies de l'Information | 17.7 |
| Tokio Marine | 4.9 |  |  | Industrie | 15.4 |
| Shin-Etsu Chemical | 4.4 |  |  | Services de communication | 11.3 |
| SoftBank Group | 4.4 |  |  | Soins de Santé | 9.3 |
| Mitsubishi | 4.0 |  |  | Sociétés Financières | 8.2 |
| Nintendo | 3.7 |  |  | Liquidités | 6.8 |
| Renesas Electronics | 3.6 |  |  | Consommation de base | 6.0 |
| Olympus | 3.4 |  |  | Matériaux | 4.4 |
| Nitori | 3.3 |  |  |  |  |
| Nombre total de positions | 30 |  |  |  |  |
| A2 EUR |  |
| --- | --- |
| (continued) |
| Top 10 holdings | (%) | Top 10 countries | (%) | Sector breakdown | (%) |
| Roche | 3.9 | United Kingdom | 21.5 | Consumer Discretionary | 21.4 |
| UPM-Kymmene | 3.8 | France | 21.2 | Materials | 15.9 |
| ASML | 3.7 | Switzerland | 10.6 | Industrials | 15.7 |
| Holcim | 3.5 | Netherlands | 10.1 | Consumer Staples | 14.6 |
| Nestlé | 3.2 | Sweden | 8.5 | Health Care | 11.8 |
| LVMH Moet Hennessy Louis Vuitton | 2.8 | Germany | 7.4 | Financials | 9.4 |
| Sanofi | 2.6 | Denmark | 5.3 | Information Technology | 4.6 |
| Nordea Bank Abp | 2.4 | Finland | 5.1 | Energy | 4.5 |
| Novo Nordisk | 2.3 | Spain | 2.4 | Cash | 2.0 |
| adidas | 2.3 | Norway | 2.3 |  |  |
| Total number of positions | 63 | Cash | 2.0 |  |  |

Translation (ENFR, 2021-07-31):
| A2 EUR |  |
| --- | --- |
| (suite) |
| Top 10 des sociétés de portefeuille | (%) | Top 10 des pays | (%) | Ventilation sectorielle | (%) |
| Roche | 3.9 | Royaume-Uni | 21.5 | Consommation Discrétionnaire | 21.4 |
| UPM-Kymmene | 3.8 | France | 21.2 | Matériaux | 15.9 |
| ASML | 3.7 | Suisse | 10.6 | Industrie | 15.7 |
| Holcim | 3.5 | Pays-Bas | 10.1 | Consommation de base | 14.6 |
| Nestlé | 3.2 | Suède | 8.5 | Soins de Santé | 11.8 |
| LVMH Moet Hennessy Louis Vuitton | 2.8 | Allemagne | 7.4 | Sociétés Financières | 9.4 |
| Sanofi | 2.6 | Danemark | 5.3 | Technologies de l'Information | 4.6 |
| Nordea Bank Abp | 2.4 | Finlande | 5.1 | Énergie | 4.5 |
| Novo Nordisk | 2.3 | Espagne | 2.4 | Liquidités | 2.0 |
| adidas | 2.3 | Norvège | 2.3 |  |  |
| Nombre total de positions | 63 | Liquidités | 2.0 |  |  |
|  | MSCI All Countries Asia Pacific (ex Japan) NR (60.7%) Asia-Pacific ex-Japan Equity - OE (55.2%) |
| --- | --- |
|  |
| Performance % | A2 (Net) | Index | Sector A2 (Gross) | Target (Gross) |
| 1 month | -8.8 | -6.6 | -5.1 | - | - |
| YTD | -5.1 | 3.0 | 4.9 | - | - |
| 1 year | 14.2 | 20.3 | 24.2 | - | - |
| 3 years (annualised) | 5.8 | 8.5 | 9.2 | - | - |
| 5 years (annualised) | 8.0 | 10.0 | 9.2 | 10.3 | 12.2 |
| 10 years (annualised) | 7.2 | 8.1 | 7.7 | 9.5 | 10.2 |
| Since inception 01 Jul 2011 (annualised) | 7.5 | 8.1 | 7.8 | 9.8 | 10.3 |

Translation (ENFR, 2021-07-31):
|  | MSCI All Countries Asia Pacific (ex Japan) NR (60.7%) Asia-Pacific ex-Japan Equity - OE (55.2%) |
| --- | --- |
|  |
| Performance % | A2 (Nette) | Indice | Secteur | A2 (Brut) | Objectif (Brut) |
| 1 mois | -8.8 | -6.6 | -5.1 | - | - |
| Depuis le début de l’année | -5.1 | 3.0 | 4.9 | - | - |
| 1 an | 14.2 | 20.3 | 24.2 | - | - |
| 3 ans (annualisée) | 5.8 | 8.5 | 9.2 | - | - |
| 5 ans (annualisée) | 8.0 | 10.0 | 9.2 | 10.3 | 12.2 |
| 10 ans (annualisée) | 7.2 | 8.1 | 7.7 | 9.5 | 10.2 |
| Depuis création 01 juil. 2011 (annualisée) | 7.5 | 8.1 | 7.8 | 9.8 | 10.3 |
| Top 10 holdings | (%) | Country breakdown | (%) | Sector breakdown | (%) |
| --- | --- | --- | --- | --- | --- |
| Samsung Electronics | 9.5 | China | 26.3 | Information Technology | 31.4 |
| Taiwan Semiconductor Manufacturing | 8.2 | Taiwan | 18.5 | Financials | 24.3 |
| Tencent | 5.8 | South Korea | 16.6 | Consumer Discretionary | 14.8 |
| AIA Group | 5.1 | India | 14.4 | Communication Services | 9.7 |
| Alibaba Group | 4.9 | Hong Kong | 12.4 | Consumer Staples | 6.0 |
| Housing Development Finance | 4.0 | Singapore | 4.1 | Industrials | 5.5 |
| HDFC Bank | 3.8 | Indonesia | 1.9 | Cash | 2.4 |
| Yum China | 2.5 | United Kingdom | 1.8 | Real Estate | 2.3 |
| Largan Precision | 2.4 | Philippines | 1.6 | Energy | 2.1 |
| LG Household & Health Care | 2.4 | Cash | 2.4 | Health Care | 1.4 |
| Total number of positions | 40 |  |  |  |  |

Translation (ENFR, 2021-07-31):
| Top 10 des sociétés de portefeuille | (%) | Répartition géographique | (%) | Ventilation sectorielle | (%) |
| --- | --- | --- | --- | --- | --- |
| Samsung Electronics | 9.5 | Chine | 26.3 | Technologies de l'Information | 31.4 |
| Taiwan Semiconductor Manufacturing | 8.2 | Taïwan | 18.5 | Sociétés Financières | 24.3 |
| Tencent | 5.8 | Corée du Sud | 16.6 | Consommation Discrétionnaire | 14.8 |
| AIA Group | 5.1 | Inde | 14.4 | Services de communication | 9.7 |
| Alibaba Group | 4.9 | Hong-Kong | 12.4 | Consommation de base | 6.0 |
| Housing Development Finance | 4.0 | Singapour | 4.1 | Industrie | 5.5 |
| HDFC Bank | 3.8 | Indonésie | 1.9 | Liquidités | 2.4 |
| Yum China | 2.5 | Royaume-Uni | 1.8 | Immobilier | 2.3 |
| Largan Precision | 2.4 | Philippines | 1.6 | Énergie | 2.1 |
| LG Household & Health Care | 2.4 | Liquidités | 2.4 | Soins de Santé | 1.4 |
| Nombre total de positions | 40 |  |  |  |  |
| Credit rating breakdown | (%) | Top 10 countries | (%) | Top 10 sectors | (%) |
| --- | --- | --- | --- | --- | --- |
| AA | 3.2 | China | 8.6 | Financial | 18.1 |
| A | 9.1 | Brazil | 7.0 | Oil & Gas | 15.8 |
| BBB | 28.2 | Mexico | 6.4 | Consumer | 10.7 |
| BB | 21.9 | Qatar | 4.9 | TMT | 9.9 |
| B | 18.7 | Turkey | 4.8 | Industrial | 9.3 |
| CCC & Below | 8.2 | Cash | 4.7 | Metals & Mining | 8.9 |
| Not Rated | 6.4 | United Arab Emirates | 4.2 | Utilities | 7.6 |
| Other Swaps | -0.4 | Russia | 3.9 | Government | 5.5 |
| Cash | 4.7 | Philippines | 3.7 | Real Estate | 5.4 |
|  |  | Hong Kong | 3.3 | Cash | 4.7 |

Translation (ENFR, 2021-09-30):
| Ventilation des notations de crédit | (%) | Top 10 des pays | (%) | Top 10 des secteurs | (%) |
| --- | --- | --- | --- | --- | --- |
| AA | 3.2 | Chine | 8.6 | Finance | 18.1 |
| A | 9.1 | Brésil | 7.0 | Pétrole Et Gaz | 15.8 |
| BBB | 28.2 | Mexique | 6.4 | Consommation | 10.7 |
| BB | 21.9 | Qatar | 4.9 | T(echnologie), M(edia), T(elecom) | 9.9 |
| B | 18.7 | Turquie | 4.8 | Industriel | 9.3 |
| CCC et inférieure | 8.2 | Liquidités | 4.7 | Métaux et Exploitation Minière | 8.9 |
| Pas de notation | 6.4 | Émirats Arabes Unis | 4.2 | Services aux Collectivités | 7.6 |
| Swaps autres | -0.4 | Russie | 3.9 | Gouvernement | 5.5 |
| Liquidités | 4.7 | Philippines | 3.7 | Immobilier | 5.4 |
|  |  | Hong-Kong | 3.3 | Liquidités | 4.7 |
# Characteristics
Weighted average market cap	96.42bn
Number of holdings: Equity issues	44
| Risk statistics (3 years) | Fund | Index |
| --- | --- | --- |
| Beta | 1.04 | 1.00 |
| Standard deviation | 29.05 | 27.48 |
| Sharpe ratio | -0.12 | -0.03 |

Price-to-book ratio	3.09

Translation (ENFR, 2023-01-31):
# Caractéristiques
Capitalisation boursière moyenne pondérée	96.42Mds
Nombre de positions: Émissions d'actions	44
Ratio cours/valeur comptable	3,09
Statistiques de risque (3 ans)	
Fonds  Indice
Écart-type	29,05	—
Bêta	1,04	—
Ratio de Sharpe	-0,12	—
| Top 10 holdings | (%) | Top 10 countries | (%) | Top 10 sectors | (%) |
| --- | --- | --- | --- | --- | --- |
| Microsoft | 5.6 | United States | 61.6 | Information Technology | 42.7 |
| Autodesk | 3.6 | Japan | 7.9 | Industrials | 13.6 |
| Adobe | 3.4 | Canada | 4.8 | Financials | 12.4 |
| NVIDIA | 2.7 | France | 4.2 | Consumer Discretionary | 8.1 |
| Taiwan Semiconductor Manufacturing | 2.6 | Netherlands | 3.5 | Health Care | 6.8 |
| Aon | 2.5 | Germany | 3.4 | Utilities | 4.1 |
| Humana | 2.5 | United Kingdom | 3.1 | Real Estate | 4.0 |
| Evoqua Water Technologies | 2.4 | Taiwan | 2.6 | Materials | 2.8 |
| TE Connectivity | 2.3 | Hong Kong | 2.0 | Cash | 2.8 |
| IPG Photonics | 2.3 | Australia | 1.8 | Communication Services | 2.4 |
| Total number of positions | 57 | Cash | 2.8 |  |  |

Translation (ENFR, 2021-07-31):
| Top 10 des sociétés de portefeuille | (%) | Top 10 des pays | (%) | Top 10 des secteurs | (%) |
| --- | --- | --- | --- | --- | --- |
| Microsoft | 5.6 | États-Unis | 61.6 | Technologies de l'Information | 42.7 |
| Autodesk | 3.6 | Japon | 7.9 | Industrie | 13.6 |
| Adobe | 3.4 | Canada | 4.8 | Sociétés Financières | 12.4 |
| NVIDIA | 2.7 | France | 4.2 | Consommation Discrétionnaire | 8.1 |
| Taiwan Semiconductor Manufacturing | 2.6 | Pays-Bas | 3.5 | Soins de Santé | 6.8 |
| Aon | 2.5 | Allemagne | 3.4 | Services aux Collectivités | 4.1 |
| Humana | 2.5 | Royaume-Uni | 3.1 | Immobilier | 4.0 |
| Evoqua Water Technologies | 2.4 | Taïwan | 2.6 | Matériaux | 2.8 |
| TE Connectivity | 2.3 | Hong-Kong | 2.0 | Liquidités | 2.8 |
| IPG Photonics | 2.3 | Australie | 1.8 | Services de communication | 2.4 |
| Nombre total de positions | 57 | Liquidités | 2.8 |  |  |
| Discrete year performance % | A4m (Net) | Index | A4m (Gross) | Target (Gross) |
| --- | --- | --- | --- | --- |
| 30 Jun 2020 to 30 Jun 2021 | 0.6 | -0.5 | 1.6 | 2.5 |
| 30 Jun 2019 to 30 Jun 2020 | 0.0 | -0.4 | 1.3 | 2.6 |
| 30 Jun 2018 to 30 Jun 2019 | -1.7 | -0.4 | 0.1 | 2.6 |
| 30 Jun 2017 to 30 Jun 2018 | -5.5 | -0.5 | -3.6 | 2.5 |
| 30 Jun 2016 to 30 Jun 2017 | 0.4 | -0.5 | 2.4 | 2.5 |

Translation (ENFR, 2021-07-31):
| Performances annuelles en % | A4m (Nette) | Indice | A4m (Brut) | Objectif (Brut) |
| --- | --- | --- | --- | --- |
| 30 juin 2020 au 30 juin 2021 | 0.6 | -0.5 | 1.6 | 2.5 |
| 30 juin 2019 au 30 juin 2020 | 0.0 | -0.4 | 1.3 | 2.6 |
| 30 juin 2018 au 30 juin 2019 | -1.7 | -0.4 | 0.1 | 2.6 |
| 30 juin 2017 au 30 juin 2018 | -5.5 | -0.5 | -3.6 | 2.5 |
| 30 juin 2016 au 30 juin 2017 | 0.4 | -0.5 | 2.4 | 2.5 |
# Top countries (%)
Communications Consumer Cyclical Capital Goods
REITS
3.23
3.03
2.97
1.81
7.69
7.21
4.69
2.73
United States United Kingdom
France Germany
Fund 65.68
7.07
4.52
4.41
Index 56.16
7.42
6.25
4.55
| Aaa | 11.05 | 0.96 |
| --- | --- | --- |
| Aa | 2.94 | 7.55 |
| A | 33.65 | 42.00 |
| Baa | 45.67 | 49.49 |
| Ba | 2.87 | — |
| B | 0.33 | — |

Translation (ENFR, 2023-01-31):
# Principaux pays (%)
Communications Consommation, cyclique Biens d’équipement
REITs
3.23
3.03
2.97
1.81
7.69
7.21
4.69
2.73
États-Unis Royaume-Uni
France Allemagne
Fonds 65.68
7.07
4.52
4.41
Indice 56.16
7.42
6.25
4.55
| Aaa | 11,05 | 0,96 |
| --- | --- | --- |
| Aa | 2,94 | 7,55 |
| A | 33,65 | 42,00 |
| Baa | 45,67 | 49,49 |
| Ba | 2,87 | — |
| B | 0,33 | — |
# Investment policy
The Fund invests at least 80% of its assets in a global portfolio of investment grade (equivalent to BBB rated or higher) corporate bonds, issued by companies and issuers. The Fund may also hold other assets including other types of bonds (including convertible bonds), preference shares, cash and money market instruments. The investment manager may use derivatives (complex financial instruments), including total return swaps, with the aim of making investment gains in line with the Fund's objective, to reduce risk or to manage the Fund more efficiently. The Fund is actively managed with reference to the Bloomberg Global Aggregate Corporate Bond Hedged USD Index, which is broadly representative of the bonds in which it may invest, as this forms the basis of the Fund's performance target. The investment manager has discretion to choose investments for the Fund with weightings different to the index or not in the index, but at times the Fund may hold investments similar to the index.

Translation (ENFR, 2023-01-31):
# Politique d'investissement
Le Fonds investit au moins 80 % de ses actifs dans un portefeuille international d’obligations d’entreprise «investment grade» (soit une notation de BBB ou toute notation supérieure), émises par des sociétés et d’autres émetteurs. Le Fonds peut également détenir dans d’autres actifs, y compris d'autres types d'obligations (notamment des obligations convertibles), des actions privilégiées, des liquidités et des instruments du marché monétaire. Le gestionnaire d’investissement peut utiliser des dérivés (instruments financiers complexes) y compris des swaps de rendement total, dans le but de réaliser des gains sur les placements conformes à l’objectif du Fonds, pour réduire le risque ou pour gérer le Fonds plus efficacement. Le Fonds est géré de façon active en se référant à l’indice Bloomberg Global Aggregate Corporate Bond Hedged USD Index, qui est largement représentatif des obligations dans lesquelles le Fonds est susceptible d’investir, dans la mesure où ledit indice constitue la base de l’objectif de performance du Fonds. Le gestionnaire d’investissement a le pouvoir discrétionnaire de choisir des investissements pour le Fonds ayant des pondérations différentes de celles de l’indice ou n’étant pas présents dans l’indice, mais le Fonds peut occasionnellement détenir des investissements similaires à ceux de l’indice.
# Investment strategy
The investment manager has a forward-looking fundamental approach to credit research and seeks to create a portfolio of best ideas across all fixed income sectors to express their high-conviction views. A fundamental company research-driven investment process focused on investment-grade corporate bonds from companies around the world committed to transforming and improving their balance sheets, free cash flow generation, quality of management and security valuation drive security selection. A dynamic 'top down' (market and economic analysis) framework enables the investment manager to assess the stage of credit cycle, identify opportunities and take an appropriate amount of risk.

Translation (ENFR, 2023-01-31):
# Stratégie d'investissement
Le gestionnaire d’investissement utilise une approche fondamentale prospective en ce qui concerne la recherche de crédit et vise à créer un portefeuille de bonnes idées pour tous les secteurs de titres à revenu fixe afin d’exprimer leurs opinions à haute conviction. Un processus d’investissement de recherche axé sur les fondamentaux des sociétés et focalisé sur les obligations d’entreprise «investment grade» de sociétés du monde entier engagées dans la transformation et l’amélioration de leurs bilans, la génération de flux de trésorerie disponibles, la qualité de gestion et la valorisation des titres contribuent à la sélection des titres. Un cadre (analyse de marché et économique) dynamique «descendant» permet au gestionnaire d’investissement d’évaluer l’étape du cycle de crédit, d’identifier des opportunités et de prendre juste ce qu’il faut de risque.
-5
-10
-15
-20
Jan-13  Jan-14  Jan-15  Jan-16  Jan-17  Jan-18  Jan-19 Jan-20 Jan-21  Jan-22 Jan-23 Global Investment Grade Bond Fund A2 HEUR (Net)
Bloomberg Global Agg Corp Bond Hgd EUR

Translation (ENFR, 2023-01-31):
-5
-10
-15
-20
Jan-13  Jan-14  Jan-15  Jan-16  Jan-17  Jan-18  Jan-19 Jan-20 Jan-21  Jan-22 Jan-23 Global Investment Grade Bond Fund A2 HEUR (Nette)
Bloomberg Global Agg Corp Bond Hgd EUR
# Codes
Canada Switzerland Australia Netherlands
Japan
Spain
Taiwan, Province Of China
2.97
2.73
1.49
1.38
1.31
1.13
1.00
5.26
1.70
2.04
2.06
2.67
1.80
0.16
Maturity of fixed income holdings (%)	
Fund  Index
< 1 yr	4.86	0.92
1 - 3 yrs	13.94  24.09
3 - 5 yrs	18.76  21.89
5 - 7 yrs	13.98  12.83
7 - 10 yrs	28.24  15.41
ISIN	IE00B3ZM0R87
Bloomberg	JGIGAEA ID
Cusip	G5011C508
SEDOL	B3ZM0R8
WKN	A1C8VF
Valoren	11966472

Translation (ENFR, 2023-01-31):
# Codes
Canada Suisse Australie Pays-Bas
Japon
Espagne
Taïwan, Province de Chine
2.97
2.73
1.49
1.38
1.31
1.13
1.00
5.26
1.70
2.04
2.06
2.67
1.80
0.16
Maturité des positions obligataires (%)	
Fonds  Indice
< 1 an	4,86	0,92
1 à 3 ans	13,94  24,09
3 à 5 ans	18,76  21,89
5 à 7 ans	13,98  12,83
7 à 10 ans	28,24  15,41
Code ISIN	IE00B3ZM0R87
Bloomberg	JGIGAEA ID
Cusip	G5011C508
SEDOL	B3ZM0R8
WKN	A1C8VF
Valoren	11966472
| Top 10 holdings | (%) | Asset allocation | (%) | Credit rating breakdown | (%) |
| --- | --- | --- | --- | --- | --- |
| United States Treasury Note/Bond 0.13 06/30/2023 | 1.5 | Credit-Investment Grade | 74.6 | Aaa | 4.5 |
| United States Treasury Note/Bond 1.63 05/15/2031 | 1.3 | Credit-High Yield | 13.8 | Aa | 2.4 |
| JPMorgan Chase & Co 0.99 04/28/2026 | 1.1 | Treasuries | 4.5 | A | 17.6 |
| United States Treasury Note/Bond 0.75 04/30/2026 | 1.1 | ABS | 1.0 | Baa | 55.8 |
| SVB Financial Group 3.13 06/05/2030 | 0.9 | Government Related | 0.5 | Ba | 11.7 |
| Worley US Finance Sub Ltd 0.88 06/09/2026 | 0.9 | Cash & Equivalents | 5.7 | B | 2.1 |
| Canary Wharf Group Investment Holdings PLC 3.38 | 0.9 |  |  | Not Rated | 0.3 |
| 04/23/2028 Banque Federative du Credit Mutuel SA 0.01 05/11/2026 | 0.9 |  |  | Cash & Equivalents | 5.7 |
| GLP Capital LP / GLP Financing II Inc 4.00 01/15/2031 | 0.8 |  |  |  |  |
| HSBC Holdings PLC 1.59 05/24/2027 | 0.8 |  |  |  |  |
| Total number of positions | 297 |  |  |  |  |

Translation (ENFR, 2021-07-31):
| Top 10 des sociétés de portefeuille | (%) | Allocation des actifs | (%) | Ventilation des notations de crédit | (%) |
| --- | --- | --- | --- | --- | --- |
| United States Treasury Note/Bond 0.13 06/30/2023 | 1.5 | Crédit-Investment Grade | 74.6 | Aaa | 4.5 |
| United States Treasury Note/Bond 1.63 05/15/2031 | 1.3 | Crédit-High Yield | 13.8 | Aa | 2.4 |
| JPMorgan Chase & Co 0.99 04/28/2026 | 1.1 | Trésoreries | 4.5 | A | 17.6 |
| United States Treasury Note/Bond 0.75 04/30/2026 | 1.1 | ABS | 1.0 | Baa | 55.8 |
| SVB Financial Group 3.13 06/05/2030 | 0.9 | Lié à l'Etat | 0.5 | Ba | 11.7 |
| Worley US Finance Sub Ltd 0.88 06/09/2026 | 0.9 | Trésorerie & Equivalents | 5.7 | B | 2.1 |
| Canary Wharf Group Investment Holdings PLC 3.38 | 0.9 |  |  | Pas de notation | 0.3 |
| 04/23/2028 Banque Federative du Credit Mutuel SA 0.01 05/11/2026 | 0.9 |  |  | Trésorerie & Equivalents | 5.7 |
| GLP Capital LP / GLP Financing II Inc 4.00 01/15/2031 | 0.8 |  |  |  |  |
| HSBC Holdings PLC 1.59 05/24/2027 | 0.8 |  |  |  |  |
| Nombre total de positions | 297 |  |  |  |  |
# Returns
1
Month
3
Month  YTD
1
Year
3
Year
5
Year
10
Year
inception
(03/06/20)
I2 HUSD (Net)	-0.59  -0.56  -0.59	-1.42	—	—	—1.95

Translation (ENFR, 2023-01-31):
# Rendements
1
Mois
3
Mois
Dep. début année
1
Année
3
Année
5
Année
10
Année
Depuis le lancement
(03/06/20)
I2 HUSD (Nette)	-0,59  -0,56  -0,59	-1,42	—	—	—	1,95