# Portfolio analysis
## Fund indicators

## Fund indicators

## Sector breakdown
Non cyclical sector
7.54%
10.09%
12.50%
6.28%
5.86%
5.35%
5.46%
4.41%
10.00%
3.29%
3.67%
7.50%
1.85%
0.29%
0.69%
5.00%
2.50%
Telecommunications
Consumer Goods
Utility
Healthcare
Transportation
Services
0.00%
3.05%
4.61%
Portfolio	Performance Indicator*

## Cyclical sector
8.04%
8.07%
4.90%
6.87%
10%
8%
3.34%
2.37%
6%
4%
2%
Automotive
Basic
Industry
0%

## Financial sector
44%
40%
36%
32%
28%
24%
0.00%
0.54%
20%
16%
12%
8%
4%
0%
2.32%
2.26%
1.43%
1.02%
0.73%
1.09%
0.54%
0.91%
Real Estate
Energy
Capital
Goods
Technology
& Electronics
Retail
Media
Leisure
Portfolio	Performance Indicator*
Banking	Insurance	Financial Services
Portfolio	Performance Indicator*

## Regional breakdown
Country Breakdown
17.47%
19.33%
16.52%
11.31%
8.96%
16.87%
8.50%
6.08%
8.13%
8.98%
6.97%
5.46%
15.34%
21%
18%
15%
5.22%
6.88%
4.98%
3.39%
2.89%
0.75%
2.87%
1.62%
2.34%
0.31%
2.06%
3.57%
7.03%
6.06%
12%
9%
0.13%
6%
3%
France
United States
Germany
Italy
United Kingdom
Spain
Netherlands
Switzerland
Ireland
Belgium
Canada
Sweden
Other
Cash
0%
as at 31/08/2018
Portfolio	Performance Indicator*

Translation (ENFR, 2018-08-31):
# Analyse du portefeuille
## Caractéristique du portefeuille
Caractéristique du portefeuille
|  | Portefeuille | Indicateur de performance* |  |  | Portefeuille | Indicateur de performance* |
| --- | --- | --- | --- | --- | --- | --- |
| Cash | 6.06% | 0.13% |  | Duration to worst | 1.68 | 1.92 |
| Nombre de lignes | 291 | 645 |  | Spread duration | 1.52 | 1.93 |
| Nombre d'émetteurs | 171 | 308 |  | Coupon moyen | 2.16% | 2.67% |
| Rating moyen linéaire | BBB1 | A3 |  | Yield to worst | 0.36 | 0.24 |
| Rating moyen exponentiel | BBB1 | BBB1 |  | Asset swap spread | 51 | 40 |
| Maturité moyenne | 1.84 | 1.97 |  |  |  |  |

Répartition sectorielle
Secteurs non-cycliques
10.09%
12%
7.54%
6.28%
5.86%
10%
5.35%
5.46%
4.41%
8%
3.29%
1.85%
3.67%
6%
0.29%
0.69%
4%
2%
Télécom.
Biens de
consommation
Serv. aux
collect.
Sante
Transport
Services
0%
3.05%
4.61%
Portefeuille	Indicateur de performance*

## Secteurs cycliques
8.04%
8.07%
4.90%
6.87%
10%
8%
3.34%
2.37%
6%
4%
2%
Automobile
Industrie
Immobilier
d’équip.
Elec.
détail
0%

## Secteurs financiers
44%
40%
36%
32%
28%
24%
0.00%
0.54%
20%
16%
12%
8%
4%
0%
2.32%
2.26%
1.43%
1.02%
0.73%
1.09%
0.54%
0.91%
Energie
Biens
Tech. &
Ventes au
Médias
Loisirs
Portefeuille	Indicateur de performance*
Bancaires	Assurances	Services Financiers
Portefeuille	Indicateur de performance*

## Exposition par zone géographique
|  | Portefeuille | Indicateur de performance* |
| --- | --- | --- |
| Europe 'Core' | 35.31% | 46.28% |
| Europe 'Périphérie' | 19.62% | 12.77% |
| Etats-Unis | 16.52% | 11.31% |
| Reste du monde | 14.35% | 20.53% |
| Royaume-Uni | 8.13% | 8.98% |
| Cash | 6.06% | 0.13% |
| Total | 100.00% | 100.00% |

Europe 'core' : France, Pays-Bas, Allemagne, Suisse, Suède, Luxembourg, Norvège et Finlande
Europe 'périphérique' : Espagne, Italie, Portugal, Irlande et Grèce.

## Exposition par pays
17.47%
19.33%
16.52%
11.31%
8.96%
16.87%
8.50%
6.08%
8.13%
8.98%
6.97%
5.46%
15.34%
24%
20%
16%
5.22%
6.88%
4.98%
3.39%
2.89%
0.75%
2.87%
1.62%
2.34%
0.31%
2.06%
3.57%
7.03%
6.06%
0.13%
12%
8%
4%
France
Etats-Unis
Allemagne
Italie
Royaume-Uni
Espagne
Pays-Bas
Suisse
Irlande
Belgique
Canada
Suède
Autres
Cash
0%
Portefeuille	Indicateur de performance*