# Portfolio analysis (including derivatives)
63.76%
62.64%
63.98%
35.15%
36.32%
33.88%
97.81%

## Asset allocation	Currency exposure
70%
60%
50%
40%
30%
20%
10%
0%
1.09%
1.03%
2.14%
Equity	Bonds	Cash
29/10/2021	30/11/2021	31/12/2021
120%
100%
80%
60%
40%
20%
0%
1.65%
0.20%
0.09%
0.05%
0.04%
0.03%
USD	EUR	AUD	GBP	HKD	SGD	Other
Portfolio
Breakdown by asset class / region
|  | Equity | Bonds | Cash | Total |
| --- | --- | --- | --- | --- |
| North America | 40.06% | 11.51% | 1.06% | 52.63% |
| Euro Zone | 7.18% | 14.45% | 0.92% | 22.54% |
| Pacific ex-Japan | 11.62% | 3.44% | 0.11% | 15.17% |
| Europe ex Euro Zone | 2.75% | 4.48% | 0.05% | 7.28% |
| Japan | 2.36% |  | 0.01% | 2.37% |
| Total | 63.98% | 33.88% | 2.14% |  |

| Equities |  |
| --- | --- |
| Main stocks |  |  |  |  |
| Equity | Weighting | Sector | Issuer country | Currency |
| Prologis Inc | 5.61% | Real estate | United States | USD |
| Equinix Inc | 3.06% | Real estate | United States | USD |
| Goodman Group | 3.04% | Real estate | Australia | AUD |
| AvalonBay Communities Inc | 2.71% | Real estate | United States | USD |
| Duke Realty Corp | 2.47% | Real estate | United States | USD |
| American Homes 4 Rent | 2.04% | Real estate | United States | USD |
| Capitaland Investment Ltd | 1.95% | Cons. disc. | Singapore | SGD |
| Link REIT | 1.85% | Real estate | Hong Kong | HKD |
| Xior Student Housing NV | 1.84% | Real estate | Belgium | EUR |
| Number of Holdings | 60 |  |  |  |

| Fixed income |  |
| --- | --- |
| Largest holdings (except cash) |  |  |  |  |
| Name | Weighting | Issuer country | Modified duration | Contribution** |
| Sun Hung Kai Properties 2.875% 01/21/2030 | 1.34% | Hong Kong | 7.1 | 0.10 |
| Segro Capital Sarl 0.5% 09/22/2031 | 1.16% | United Kingdom | 9.2 | 0.10 |
| Fonciere des Murs SCA 1% 07/27/2029 | 1.12% | France | 7.0 | 0.10 |
| Inmobiliaria Colonial SA 0.75% 06/22/2029 | 1.05% | Spain | 6.9 | 0.10 |
| Sagax AB 2.25% 03/13/2025 | 0.93% | Sweden | 2.8 | 0.00 |
| UDR Inc 4.4% 01/26/2029 | 0.90% | United States | 5.9 | 0.10 |
| SELP FINANCE Sarl 1.5% 12/20/2026 | 0.85% | Luxemburg | 4.6 | 0.00 |
| Alstria Office REIT-AG 1.5% 11/15/2027 | 0.85% | Germany | 5.3 | 0.00 |
| Physicians Realty LP 4.3% 03/15/2027 | 0.82% | United States | 4.4 | 0.00 |
| Scentre Group Trust 1 / Trust 2 3.625% 01... | 0.80% | Australia | 3.7 | 0.00 |
| Sensitivity (Fixed Income) Number of Holdings | 95 |  | 0.4 |  |
| **Contribution to portfolio risk (%) |  |  |  |  |
| Allocation by rating / maturity - Fixed income |  |  |  |  |
| A | BBB | BB | Cash | Total |
| Cash |  |  | 5.95% | 5.95% |
| 0-1 year	1.05% | 0.70% |  |  | 1.74% |
| 1-3 years | 1.78% | 1.30% |  | 3.08% |
| 3-5 years	4.86% | 19.02% | 0.31% |  | 24.19% |
| 5-7 years	3.95% | 21.80% |  |  | 25.75% |
| 7-10 years	9.86% | 29.43% |  |  | 39.28% |
| Total	19.71% | 72.72% | 1.62% | 5.95% |  |

Translation (ENFR, 2021-12-31):
# Analyse du portefeuille (y compris produits dérivés)
63.76%
62.64%
63.98%
35.15%
36.32%
33.88%
97.81%

## Evolution de la composition	Exposition par devise
70%
60%
50%
40%
30%
20%
10%
0%
1.09%
1.03%
2.14%
Actions	Obligations	Monétaire
29/10/2021	30/11/2021	31/12/2021
120%
100%
80%
60%
40%
20%
0%
1.65%
0.20%
0.09%
0.05%
0.04%
0.03%
USD	EUR	AUD	GBP	HKD	SGD	Autres
Portefeuille
Exposition par classe d'actif / zone géographique
|  | Actions | Obligations | Monétaire | Total |
| --- | --- | --- | --- | --- |
| Amérique du Nord | 40.06% | 11.51% | 1.06% | 52.63% |
| Zone Euro | 7.18% | 14.45% | 0.92% | 22.54% |
| Pacifique hors Japon | 11.62% | 3.44% | 0.11% | 15.17% |
| Europe hors Euro | 2.75% | 4.48% | 0.05% | 7.28% |
| Japon | 2.36% |  | 0.01% | 2.37% |
| Total | 63.98% | 33.88% | 2.14% |  |

| Poche actions |  |
| --- | --- |
| Les principales valeurs |  |  |  |  |
| Action | Pondération | Secteur | Pays émetteur | Devise |
| Prologis Inc | 5.61% | Immobilier | Etats-Unis | USD |
| Equinix Inc | 3.06% | Immobilier | Etats-Unis | USD |
| Goodman Group | 3.04% | Immobilier | Australie | AUD |
| AvalonBay Communities Inc | 2.71% | Immobilier | Etats-Unis | USD |
| Duke Realty Corp | 2.47% | Immobilier | Etats-Unis | USD |
| American Homes 4 Rent | 2.04% | Immobilier | Etats-Unis | USD |
| Capitaland Investment Ltd | 1.95% | Conso. cycl. | Singapour | SGD |
| Link REIT | 1.85% | Immobilier | Hong-Kong | HKD |
| Xior Student Housing NV | 1.84% | Immobilier | Belgique | EUR |
| Nombre de lignes | 60 |  |  |  |

| Poche obligations |  |
| --- | --- |
| Les principales lignes (hors liquidités) |  |  |  |  |
| Libellé | Pondération | Pays émetteur | Sensibilité | Contribution** |
| Sun Hung Kai Properties 2.875% 01/21/2030 | 1.34% | Hong-Kong | 7.1 | 0.10 |
| Segro Capital Sarl 0.5% 09/22/2031 | 1.16% | Royaume-Uni | 9.2 | 0.10 |
| Fonciere des Murs SCA 1% 07/27/2029 | 1.12% | France | 7.0 | 0.10 |
| Inmobiliaria Colonial SA 0.75% 06/22/2029 | 1.05% | Espagne | 6.9 | 0.10 |
| Sagax AB 2.25% 03/13/2025 | 0.93% | Suède | 2.8 | 0.00 |
| UDR Inc 4.4% 01/26/2029 | 0.90% | Etats-Unis | 5.9 | 0.10 |
| SELP FINANCE Sarl 1.5% 12/20/2026 | 0.85% | Luxembourg | 4.6 | 0.00 |
| Alstria Office REIT-AG 1.5% 11/15/2027 | 0.85% | Allemagne | 5.3 | 0.00 |
| Physicians Realty LP 4.3% 03/15/2027 | 0.82% | Etats-Unis | 4.4 | 0.00 |
| Scentre Group Trust 1 / Trust 2 3.625% 01... | 0.80% | Australie | 3.7 | 0.00 |
| Sensibilité de la poche TAUX Nombre de lignes | 95 |  | 0.4 |  |
| **Contribution au risque portefeuille (%) |  |  |  |  |
| Exposition rating / échéance - Obligations |  |  |  |  |
| A | BBB | BB | Monétaire | Total |
| Monétaire |  |  | 5.95% | 5.95% |
| 0-1 an	1.05% | 0.70% |  |  | 1.74% |
| 1-3 ans | 1.78% | 1.30% |  | 3.08% |
| 3-5 ans	4.86% | 19.02% | 0.31% |  | 24.19% |
| 5-7 ans	3.95% | 21.80% |  |  | 25.75% |
| 7-10 ans	9.86% | 29.43% |  |  | 39.28% |
| Total	19.71% | 72.72% | 1.62% | 5.95% |  |