# PROFILE
SFDR Fund Classification: Article 8
Domicile: France
Dividend Policy: Distribution
Fund Type: UCITS Legal Form: FCP Fiscal Year End: 30/06
Subscription/Redemption: Daily
Order Placement Cut-Off Time: Before 13:00 (CET/CEST)
Fund Inception Date: 02/05/2022 Date of 1st NAV: 03/05/2022 Base Currency: EUR
Fund AUM: 70M€ / 77M$ (1) Share class AUM: 29007€ NAV: 105.19€

## FUND MANAGER(S)
Pierre Verlé since 02/05/2022 Alexandre Deneuville since 02/05/2022 Florian Viros since 02/05/2022
* For the share class Carmignac Credit 2027 E EUR Ydis. Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. (1) Exchange Rate EUR/USD as of 31/01/2023.
| ASSET ALLOCATION |  |  | RATING BREAKDOWN |  |
| --- | --- | --- | --- | --- |
| Bonds | 94.8% |  |  | AA | 0.5% |
| Developed Countries Corporate Bonds | 51.2% |  |  | A | 3.0% |

Consumer Discretionary	4.7%
Energy	7.0%
BBB
50.4%
| Financials | 23.6% |  | BB |  |
| --- | --- | --- | --- | --- |
| Real Estate | 5.4% |  | B |  |  | 12.8% |
| Industrials | 4.3% |  | CCC |  | 4.9% |  |
| Materials | 1.5% | Rebased weights |  |  |  |  |
| Healthcare | 2.1% |  |  |  |  |  |

Utilities	0.4%
Communication Services	1.3%
Information Technology	1.1%

## GEOGRAPHIC BREAKDOWN
Europe
86.5%
Emerging Markets Corporate Bonds	9.8%
Latin America
| Consumer Staples | 2.0% | Eastern Europe | 3.2% |
| --- | --- | --- | --- |
| Consumer Discretionary | 2.5% | North America | 2.8% |
| Energy | 0.5% | Middle East | 2.2% |
| Financials | 3.7% | Asia | 1.7% |
| Real Estate Healthcare |  | 0.5% 0.3% |  | Rebased weights |  |  |  |
| Communication Services |  | 0.2% |  |  |  |  |  |
| ABS |  | 33.8% |  |  |  |  |  |
| Cash, Cash Equivalents and Derivatives Operations |  | 5.2% |  |  |  |  |  |
| TOP TEN - BONDS |  |  |  | FIXED INCOME BREAKDOWN |  |  |  |
|  |  |  |  |  |  |  |  |
| Name	Country | Sector | % |  | Fixed Rate Corporate Bonds |  |  | 62.5% |
| BNP PARIBAS S 6.88% 06/12/2029 France | BBB | 2.9% |  | ABS |  | 35.6% |  |

FINNAIR OYJ 4.25% 19/02/2025	Finland	BB	2.5%
BK LC LUX FIN 5.25% 30/04/2024  Germany	CCC+	2.5%
Floating Rate Corporate Bonds
| EMERIA SASU 7.75% 07/02/2025 | France | B+ | 2.1% | Convertible Corporate Bonds Rebased weights |
| --- | --- | --- | --- | --- |
| BNP PARIBAS S 7.38% 11/06/2030 | France | BBB | 1.8% |  |
| EUROFINS SCIE 6.75% 14/04/2028 | Luxembourg | BB | 1.7% |  |
| CREDIT AGRICO 7.25% 23/09/2028 | France | BBB | 1.6% |  |
| ENI SPA 3.38% 13/07/2029 | Italy | BBB | 1.6% |  |
| PROSUS NV 1.54% 03/05/2028 | China | BBB- | 1.4% |  |
| ENQUEST PLC 11.62% 01/11/2024 | United Kingdom | B+ | 1.3% |  |
| Total |  |  | 19.5% |  |

Translation (ENFR, 2023-01-31):
# PROFIL
Classification SFDR : Article 8
Domicile : France
Affectation des résultats : Distribution
Type de fonds : UCITS
Forme juridique : FCP
Fin de l’exercice fiscal : 30/06
Souscription/Rachat : Jour ouvrable
Heure limite de passation d’ordres : avant 13:00 heures (CET/CEST)
Date de lancement du Fonds : 02/05/2022
Date de la 1ère VL : 03/05/2022
Devise de cotation : EUR
Actifs sous gestion du Fonds : 70M€ / 77M$ (1)
Encours de la part : 29007€
VL : 105.19€

## GÉRANT(S) DU FONDS
Pierre Verlé depuis le 02/05/2022 Alexandre Deneuville depuis le 02/05/2022 Florian Viros depuis le 02/05/2022
* Pour la part Carmignac Credit 2027 E EUR Ydis. Echelle de risque du KID (Document d’Informations Clés). Le risque 1 ne signifie pas un investissement sans risque. Cet indicateur pourra évoluer dans le temps.
(1) Taux de change EUR/USD au 31/01/2023.
| ALLOCATION D'ACTIFS |  |  | RÉPARTITION PAR NOTATION |  |
| --- | --- | --- | --- | --- |
| Obligations | 94.8% |  |  | AA | 0.5% |
| Emprunts privés pays développés | 51.2% |  |  | A | 3.0% |

Consommation Discrétionnaire	4.7%
Energie	7.0%
BBB
50.4%
| Finance | 23.6% |  | BB |  |
| --- | --- | --- | --- | --- |
| Immobilier | 5.4% |  | B |  |  | 12.8% |
| Industrie | 4.3% |  | CCC |  | 4.9% |  |
| Matériaux | 1.5% | Poids rebasés |  |  |  |  |
| Santé | 2.1% |  |  |  |  |  |

Services aux collectivités	0.4%
Services de Communication	1.3%
Technologies de l'Information	1.1%
| Biens de Consommation de Base | 2.0% | Europe de l'Est | 3.2% |
| --- | --- | --- | --- |
| Consommation Discrétionnaire | 2.5% | Amérique du Nord | 2.8% |
| Energie | 0.5% | Moyen-Orient | 2.2% |
| Finance | 3.7% | Asie | 1.7% |
| Immobilier Santé | 0.5% 0.3% |  | Poids rebasés |  |  |
| Services de Communication | 0.2% |  |  |  |  |
| ABS | 33.8% |  |  |  |  |
| Liquidités, emplois de trésorerie et opérations sur dérivés | 5.2% |  |  |  |  |
| PRINCIPALES POSITIONS - OBLIGATIONS |  |  | RÉPARTITION PAR TYPE D'EMPRUNTS - POCHE TAUX |  |  |
|  |  |  |  |  |  |
| Nom	Pays	Secteur | % |  | Emprunts privés à taux fixe |  | 62.5% |
| BNP PARIBAS S 6.88% 06/12/2029 France	BBB | 2.9% |  | ABS | 35.6% |  |

Emprunts privés pays émergents	9.8%

## RÉPARTITION GÉOGRAPHIQUE
Europe Amérique Latine
86.5%
FINNAIR OYJ 4.25% 19/02/2025	Finlande	BB	2.5%
BK LC LUX FIN 5.25% 30/04/2024  Allemagne	CCC+	2.5%
Emprunts privés à taux variable
1.8%
| EMERIA SASU 7.75% 07/02/2025 | France | B+ | 2.1% | Poids rebasés |
| --- | --- | --- | --- | --- |
| BNP PARIBAS S 7.38% 11/06/2030 | France | BBB | 1.8% |  |
| EUROFINS SCIE 6.75% 14/04/2028 | Luxembourg | BB | 1.7% |  |
| CREDIT AGRICO 7.25% 23/09/2028 | France | BBB | 1.6% |  |
| ENI SPA 3.38% 13/07/2029 | Italie | BBB | 1.6% |  |
| PROSUS NV 1.54% 03/05/2028 | Chine | BBB- | 1.4% |  |
| ENQUEST PLC 11.62% 01/11/2024 | Royaume-Uni | B+ | 1.3% |  |
| Total |  |  | 19.5% |  |

Emprunts privés convertibles 0.1%