# Performance & Risk
## Performance Evolution (USD)
Assets Under Management (M)
| Fund Key Metrics |  |
| --- | --- |
|  | Port. | Bench. |
| Number of Holdings | 115 | 118 |
| Turnover: Rolling 1Y (%) | 128 | - |
| Active Share (%) | 41 | - |
| Fund Profile |  |  |
| ESG Rating |  |  |
| ESG Relative Rating |  |  |
| CO2 Relative rating |  |  |

USD

### 111.05
31/01/20
31/07/20
31/01/21
31/07/21
31/01/22
31/07/22 31/01/23
Portfolio* (13.20%)	Benchmark (15.87%)
Data is rebased to 100 by AXA IM on the graph start date.
Performance calculations are net of fees, based on the reinvestment of dividends. The benchmark, when there is one could be calculated on the basis of net or gross dividend. Please refer to the prospectus for more information.

## Risk Analysis
% of AUM covered by ESG absolute rating: Portfolio = 97.4% Benchmark = 99.9% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 98.0% Benchmark = 97.7% (not meaningful for coverage below 50%)
For more information about the methodology, please read the section 'ESG Metrics Definition' below
| Portfolio Volatility* (%) | 1Y 21.08 | 3Y 24.23 | 5Y 20.47 | Launch 19.88 | Fund Manager |
| --- | --- | --- | --- | --- | --- |
| Benchmark Volatility (%) | 21.78 | 23.98 | 20.12 | 19.98 | Equity QI Team |
| Relative Risk/Tracking Error  (%) | 2.28 | 3.31 | 2.92 | 3.39 |  |
| Sharpe Ratio | 0.14 | 0.20 | 0.07 | 0.33 |  |
| Information Ratio | -1.36 | 0.22 | -0.13 | 0.23 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 31/01/22 31/01/23 | 31/01/21 31/01/22 | 31/01/20 31/01/21 | 31/01/19 31/01/20 | 31/01/18 31/01/19 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 7.86 | 22.68 | 7.84 | 7.86 | 13.20 | 6.26 | 3.59 | -1.91 | 11.41 | 5.02 | -10.62 | 373.29 |
| Benchmark | 8.62 | 25.80 | 10.37 | 8.62 | 15.87 | 16.50 | 8.23 | -1.87 | 9.10 | 8.59 | -7.41 | 453.81 |
| Excess Return | -0.76 | -3.12 | -2.53 | -0.76 | -2.67 | -10.23 | -4.64 | -0.04 | 2.31 | -3.56 | -3.21 | -80.51 |

Annual Calendar Performance (%)
|  | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -10.32 | 6.35 | 8.13 | 15.37 | -13.12 | 25.22 | 7.08 | -11.09 | -5.12 | 5.42 |
| Benchmark | -5.94 | 4.68 | 6.55 | 18.36 | -10.30 | 25.88 | 7.85 | -8.47 | -0.47 | 5.49 |
| Excess Return | -4.38 | 1.67 | 1.58 | -2.99 | -2.82 | -0.66 | -0.77 | -2.62 | -4.65 | -0.07 |

Past performance is not a reliable indicator of future results. Performance calculations are net of fees, based on the reinvestment of dividends. The benchmark, when there is one could be calculated on the basis of net or gross dividend. Please refer to the prospectus for more information.
| Portfolio Analysis |  |
| --- | --- |
| Top 10 Holdings |
| Equity |  |  | Weighting (%) | Sector | Geography |
|  | Portfolio | Benchmark | Relative |  |  |
| BHP Group Ltd | 7.51 | 9.00 | -1.49 | Materials | Australia |
| Commonwealth Bank of Australia | 6.24 | 6.73 | -0.49 | Financials | Australia |
| AIA Group Ltd | 5.53 | 6.88 | -1.35 | Financials | Hong Kong |
| ANZ Group Holdings Ltd | 3.96 | 2.70 | 1.26 | Financials | Australia |
| Macquarie Group Ltd | 3.87 | 2.47 | 1.39 | Financials | Australia |
| Woodside Petroleum Ltd | 3.82 | 2.48 | 1.34 | Energy | Australia |
| Hong Kong Exchanges & Clear... | 3.80 | 2.76 | 1.04 | Financials | Hong Kong |
| DBS Group Holdings Ltd | 3.79 | 2.52 | 1.28 | Financials | Singapore |
| CSL Ltd | 3.74 | 5.16 | -1.42 | Health Care | Australia |
| Oversea-Chinese Banking Cor... | 3.06 | 1.70 | 1.36 | Financials | Singapore |
| Total (%) | 45.31 | 42.40 |  |  |  |

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.

## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Macquarie Group Ltd | 3.87 | 2.47 | 1.39 |  | Woolworths Group Ltd | 0.00 | 1.57 | -1.57 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Oversea-Chinese Banking Corp Ltd | 3.06 | 1.70 | 1.36 |  | Rio Tinto Ltd | 0.16 | 1.69 | -1.53 |
| Woodside Petroleum Ltd | 3.82 | 2.48 | 1.34 |  | BHP Group Ltd | 7.51 | 9.00 | -1.49 |
| Swire Properties Ltd | 1.48 | 0.17 | 1.31 |  | National Australia Bank Ltd | 2.13 | 3.62 | -1.49 |
| DBS Group Holdings Ltd | 3.79 | 2.52 | 1.28 |  | Westpac Banking Corp | 1.52 | 2.99 | -1.46 |
| Sector Breakdown (%) |  |  |  |  | Active Exposure by Sector (%) |  |  |  |

Portfolio	Benchmark
Financials	43.96	38.02
Materials	14.06	16.44
Industrials	8.00	7.35
Real Estate	7.42	10.29
Energy	6.38	4.12
Health Care	5.86	7.10
Consumer Discretionary	5.38	4.83
Information Technology	2.59	1.36
Consumer Staples	2.33	3.65
Communication Services	1.80	3.69
Utilities	0.94	3.14
Cash	1.29	0.00
-3	-2	-1	0	1	2	3	4	5	6

## Geographical Breakdown (%)
Portfolio	Benchmark
Australia	60.56	63.48
Hong Kong	19.91	22.83
Singapore	11.19	11.80
China	5.17	0.00
New Zealand	1.72	1.89
France	0.15	0.00
Cash	1.29	0.00

## Active Exposure by Geography (%)
-3	-2	-1	0	1	2	3	4	5	6
MarketCap Breakdown (USD - %)
50
40
30
20
10
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
Cash
Port.	0.12	0.30	1.74	7.24	7.10	10.37	10.75	41.81	19.28	1.29
Bench.	-	-	-	-	1.42	14.30	18.85	42.81	22.61	-

Translation (ENFR, 2023-01-31):
# Performance et risque
## Evolution de la performance (USD)
Valeur liquidative
Cap.

### 47.33
Actif net du fonds (M)
USD

### 111.05

## Indice de réference
Depuis le: 31/05/2000
100% MSCI Pacific Ex Japan Total Return Net
Le fonds est géré de manière active avec une déviation qui devrait être limitée en termes de constitution et performance comparée à l’indice de référence.
Port.

## Caractéristiques du portefeuille
Indice de réf.
Nombre de lignes	115	118
Turnover: Glissant 1an (%)	128	-
Active Share (%)	41	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
31/01/20
31/07/20
31/01/21
31/07/21
31/01/22
31/07/22 31/01/23
Intensité relative en CO2
Portefeuille* (13.20%)	Indice de réference (15.87%)
Les données sont rebasées à 100 par AXA IM à la date de début du graphique.
Les calculs de performances sont nets de frais et réalisés coupons réinvestis. L’indice de référence, le cas échéant, pourrait être calculé sur la base des coupons nets ou bruts. Veuillez consulter le prospectus pour obtenir plus d’informations.
| Analyse du risque |  |
| --- | --- |
|  | 1 an | 3 ans | 5 ans | Création |
| Volatilité du portefeuille* (%) | 21.08 | 24.23 | 20.47 | 19.88 |
| Volatilité de l'indice de référence (%) | 21.78 | 23.98 | 20.12 | 19.98 |
| Risque relatif/Tracking Error  (%) | 2.28 | 3.31 | 2.92 | 3.39 |
| Ratio de Sharpe | 0.14 | 0.20 | 0.07 | 0.33 |
| Ratio d'information | -1.36 | 0.22 | -0.13 | 0.23 |

% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 97.4% Indice de réf. = 99.9% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
% de l’encours sous gestion couvert par l’indicateur d’intensité en CO2 : Portefeuille = 98.0% Indice de réf.
= 97.7% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
Pour de plus amples informations à propos de la méthodologie, veuillez lire la section « Définition des indicateurs ESG » ci-dessous

## Gérant
Equity QI Team

## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 3 ans | 5 ans | 31/01/22 31/01/23 | 31/01/21 31/01/22 | 31/01/20 31/01/21 | 31/01/19 31/01/20 | 31/01/18 31/01/19 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 7.86 | 22.68 | 7.84 | 7.86 | 13.20 | 6.26 | 3.59 | -1.91 | 11.41 | 5.02 | -10.62 | 373.29 |
| Indice de référence | 8.62 | 25.80 | 10.37 | 8.62 | 15.87 | 16.50 | 8.23 | -1.87 | 9.10 | 8.59 | -7.41 | 453.81 |
| Ecarts | -0.76 | -3.12 | -2.53 | -0.76 | -2.67 | -10.23 | -4.64 | -0.04 | 2.31 | -3.56 | -3.21 | -80.51 |

Performance calendaire annuelle (%)
|  | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -10.32 | 6.35 | 8.13 | 15.37 | -13.12 | 25.22 | 7.08 | -11.09 | -5.12 | 5.42 |
| Indice de réference | -5.94 | 4.68 | 6.55 | 18.36 | -10.30 | 25.88 | 7.85 | -8.47 | -0.47 | 5.49 |
| Ecarts | -4.38 | 1.67 | 1.58 | -2.99 | -2.82 | -0.66 | -0.77 | -2.62 | -4.65 | -0.07 |

Les performances passées ne préjugent pas des résultats futurs. Les calculs de performances sont nets de frais et réalisés coupons réinvestis. L’indice de référence, le cas échéant, pourrait être calculé sur la base des coupons nets ou bruts. Veuillez consulter le prospectus pour obtenir plus d’informations.
| Analyse du portefeuille |  |
| --- | --- |
| 10 principaux titres |
| Action |  |  | Pondération (%) | Secteur | Géographie |
|  | Portefeuille | Indice de réference | Relative |  |  |
| BHP Group Ltd | 7.51 | 9.00 | -1.49 | Matériaux | Australie |
| Commonwealth Bank of Australia | 6.24 | 6.73 | -0.49 | Finance | Australie |
| AIA Group Ltd | 5.53 | 6.88 | -1.35 | Finance | Hong-Kong |
| ANZ Group Holdings Ltd | 3.96 | 2.70 | 1.26 | Finance | Australie |
| Macquarie Group Ltd | 3.87 | 2.47 | 1.39 | Finance | Australie |
| Woodside Petroleum Ltd | 3.82 | 2.48 | 1.34 | Energie | Australie |
| Hong Kong Exchanges & Clear... | 3.80 | 2.76 | 1.04 | Finance | Hong-Kong |
| DBS Group Holdings Ltd | 3.79 | 2.52 | 1.28 | Finance | Singapour |
| CSL Ltd | 3.74 | 5.16 | -1.42 | Santé | Australie |
| Oversea-Chinese Banking Cor... | 3.06 | 1.70 | 1.36 | Finance | Singapour |
| Total (%) | 45.31 | 42.40 |  |  |  |

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.

## 5 principales surpondérations (%)	5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| Macquarie Group Ltd | 3.87 | 2.47 | 1.39 |  | Woolworths Group Ltd | 0.00 | 1.57 | -1.57 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Oversea-Chinese Banking Corp Ltd | 3.06 | 1.70 | 1.36 |  | Rio Tinto Ltd | 0.16 | 1.69 | -1.53 |
| Woodside Petroleum Ltd | 3.82 | 2.48 | 1.34 |  | BHP Group Ltd | 7.51 | 9.00 | -1.49 |
| Swire Properties Ltd | 1.48 | 0.17 | 1.31 |  | National Australia Bank Ltd | 2.13 | 3.62 | -1.49 |
| DBS Group Holdings Ltd | 3.79 | 2.52 | 1.28 |  | Westpac Banking Corp | 1.52 | 2.99 | -1.46 |
| Exposition sectorielle (%) |  |  |  |  | Exposition sectorielle active (%) |  |  |  |

Portefeuille	Indice de réference
Finance	43.96	38.02
Matériaux	14.06	16.44
Industrie	8.00	7.35
Immobilier	7.42	10.29
Energie	6.38	4.12
Santé	5.86	7.10
Biens de conso. Cycliques	5.38	4.83
Technologie	2.59	1.36
Biens de conso. de base	2.33	3.65
Services de Communication	1.80	3.69
Services aux collectivités	0.94	3.14
Monétaire	1.29	0.00
-3	-2	-1	0	1	2	3	4	5	6

## Exposition géographique (%)
Portefeuille	Indice de réference
Australie	60.56	63.48
Hong-Kong	19.91	22.83
Singapour	11.19	11.80
Chine	5.17	0.00
Nlle-Zélande	1.72	1.89
France	0.15	0.00
Monétaire	1.29	0.00

## Exposition régionale active (%)
-3	-2	-1	0	1	2	3	4	5	6

## Ventilation par capitalisation boursière (USD - %)
50
40
30
20
10
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
Monétaire
Port.	0.12	0.30	1.74	7.24	7.10	10.37	10.75	41.81	19.28	1.29
Indice de réf.	-	-	-	-	1.42	14.30	18.85	42.81	22.61	-