# Portfolio analysis
## Fund indicators

## Fund indicators

## Sector breakdown
12.19%
10.11%
15.00%
9.10%
9.02%
7.47%
12.50%
6.97%
6.87%
5.06%
4.96%
10.00%
4.48%
4.17%
3.50%
2.79%
2.57%
2.29%
2.93%
7.50%
1.50%
1.45%
1.14%
0.75%
0.67%
5.00%
2.50%
Automotive
Retail
Capital Goods
Financial Services
Telecommunications
Services
Basic Industry
Real Estate
Banking
Technology &
Electronics
Healthcare
Leisure
Utility
Transportation
Energy
Media
Insurance
Not Classified
Consumer Goods
ABS
Cash
0.00%
Portfolio

## Modified duration to worst breakdown
70%
60%
50%
40%
30%
20%
10%
0%
Cash	0-1	1-3	3-5
Portfolio

## Maturity breakdown
80%
70%
60%
50%
40%
30%
20%
10%
0%
Cash	0-1 year	1-3 years	3-5 years
Portfolio
Source(s): AXA Investment Managers as at 28/05/2021
| Portfolio analysis |  |
| --- | --- |
| Top 10 holdings |  |  |  |  |  |  |
| Issuer | Coupon rate | Maturity | Sector | Modified duration to worst | Rating | Weight |
| BALL CORP | 4.375 | 15/12/23 | Capital Goods | 2.41 | BB | 2.05% |
| LOXAM SAS | 4.250 | 15/04/24 | Services | 0.87 | B | 1.86% |
| SEALED AIR CORP | 4.500 | 15/09/23 | Capital Goods | 1.97 | BB | 1.77% |
| ARQIVA BROADC FINANCE PL | 6.750 | 30/09/23 | Technology & Electronics | 0.34 | B | 1.75% |
| ANGLIAN WATER OSPREY FIN | 5.000 | 30/04/23 | Utility | 1.64 | B | 1.70% |
| SOFTBANK GROUP CORP | 4.000 | 20/04/23 | Financial Services | 1.61 | BB | 1.68% |
| ZF NA CAPITAL | 2.750 | 27/04/23 | Automotive | 1.89 | BB | 1.67% |
| HOIST FINANCE AB | 2.750 | 03/04/23 | Financial Services | 1.82 | BBB | 1.65% |
| ELIS SA | 1.750 | 11/04/24 | Services | 2.58 | BB | 1.64% |
| CROWN EURO HOLDINGS SA | 2.625 | 30/09/24 | Capital Goods | 2.76 | BB | 1.63% |
| Number of Holdings | 88 |  |  |  |  |  |


## Rating breakdown
55%
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%

## Currency breakdown
BBB	BB	B	CCC	Cash
Portfolio
EUR	GBP	Cash
Portfolio

## Country Breakdown
20.79%
22%
15.27%
14.42%
20%
18%
16%
14%
8.03%
7.52%
12%
10%
4.97%
4.95%
4.04%
8%
2.33%
2.16%
2.07%
1.87%
1.80%
1.63%
1.35%
1.23%
1.22%
2.93%
6%
1.00%
0.41%
4%
2%
United
Kingdom
United
States
France
Germany
Italy
Spain
Sweden
Netherlands
Denmark
Greece
Mexico
Ireland
Luxemburg
Japan
Finland
Israel
Russia
Austria
Other
Cash
0%
Portfolio
Source(s): AXA Investment Managers as at 28/05/2021

Translation (ENFR, 2021-05-28):
# Analyse du portefeuille
## Caractéristique du portefeuille

## Caractéristique du portefeuille

## Exposition sectorielle
12.19%
10.11%
14%
9.10%
9.02%
12%
7.47%
6.97%
6.87%
10%
5.06%
4.96%
4.48%
4.17%
8%
3.50%
2.79%
2.57%
2.29%
2.93%
6%
1.50%
1.45%
1.14%
0.75%
0.67%
4%
2%
Automobile
Produits de
détail
Biens d’équip.
Services
Financiers
Télécom.
Services
Industrie
Immobilier
Bancaires
Tech. & Elec.
Sante
Loisirs
Serv. aux
collect.
Transport
Energie
Médias
Assurances
Non Classé
Biens de
consommation
ABS
Cash
0%
Portefeuille

## Exposition à la Modified Duration to Worst
70%
60%
50%
40%
30%
20%
10%
0%
Cash	0-1	1-3	3-5
Portefeuille

## Exposition par maturité
80%
70%
60%
50%
40%
30%
20%
10%
0%
Cash	0-1 an	1-3 ans	3-5 ans
Portefeuille
Source(s) : AXA Investment Managers au 28/05/2021
| Analyse du portefeuille |  |
| --- | --- |
| Les 10 principales lignes |  |  |  |  |  |  |
| Emetteur | Coupon | Maturité | Secteur | Modified duration to worst | Rating | Poids |
| BALL CORP | 4.375 | 15/12/23 | Biens d’équip. | 2.41 | BB | 2.05% |
| LOXAM SAS | 4.250 | 15/04/24 | Services | 0.87 | B | 1.86% |
| SEALED AIR CORP | 4.500 | 15/09/23 | Biens d’équip. | 1.97 | BB | 1.77% |
| ARQIVA BROADC FINANCE PL | 6.750 | 30/09/23 | Tech. & Elec. | 0.34 | B | 1.75% |
| ANGLIAN WATER OSPREY FIN | 5.000 | 30/04/23 | Serv. aux collect. | 1.64 | B | 1.70% |
| SOFTBANK GROUP CORP | 4.000 | 20/04/23 | Services Financiers | 1.61 | BB | 1.68% |
| ZF NA CAPITAL | 2.750 | 27/04/23 | Automobile | 1.89 | BB | 1.67% |
| HOIST FINANCE AB | 2.750 | 03/04/23 | Services Financiers | 1.82 | BBB | 1.65% |
| ELIS SA | 1.750 | 11/04/24 | Services | 2.58 | BB | 1.64% |
| CROWN EURO HOLDINGS SA | 2.625 | 30/09/24 | Biens d’équip. | 2.76 | BB | 1.63% |
| Nombre de lignes | 88 |  |  |  |  |  |


## Exposition par rating
55%
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%

## Exposition par devise
BBB	BB	B	CCC	Cash
Portefeuille
EUR	GBP	Cash
Portefeuille

## Exposition par pays
20.79%
22%
15.27%
14.42%
20%
18%
16%
14%
8.03%
7.52%
12%
10%
4.97%
4.95%
4.04%
8%
2.33%
2.16%
2.07%
1.87%
1.80%
1.63%
1.35%
1.23%
1.22%
2.93%
6%
1.00%
0.41%
4%
2%
Royaume-Uni
Etats-Unis
France
Allemagne
Italie
Espagne
Suède
Pays-Bas
Danemark
Grèce
Mexique
Irlande
Luxembourg
Japon
Finlande
Israel
Russie
Autriche
Autres
Cash
0%
Portefeuille
Source(s) : AXA Investment Managers au 28/05/2021