# PORTOFOLIO ANALYSIS
#### GLOBAL ANALYSIS
UCIT	
| WAM | 2 |
| --- | --- |
| WAL Regulatory | 69 |
| Agency average LT rating | A- |
| Nb of issuers | 34 |
| Number of lines | 50 |
| Liquidity inf. 7 days | 38.82% |
| Liquidités 24h | 31.84% |


#### BREAKDOWN BY INSTRUMENT TYPE (AS % OF TOTAL ASSETS)
MATURITY BREAKDOWN
0-1 month
1-3 months
> 3 months
Cash
0 %	10 %	20 %	30 %	40 %	50 %
Portfolio

#### PORTFOLIO STRUCTURE
38.82 %
48.06 %
TCN
Liquidities Putable DAT
Bond
15.92
42.02 %
38.8

#### EVOLUTION OF WAL AND WAM (IN DAYS)
10	60
Financials Liquidity Corporates Others Sovereigns/Supra/Agencies
7.5
50
5
WAL
WAM
40
2.5
30
0
12/20
01/21
02/21
03/21
04/21
05/21
06/21
07/21
08/21
09/21
10/21
11/21
12/21
-2.5	20
WAM (2) WAL (put days) (52)
WAL (Weighted Average Life) : credit duration in days
WAM (Weighted Average Maturity) : modified duration in days

#### BREAKDOWN BY EMISSION RATING
AA
A
BBB+
BBB
BBB-
Liquidites
| 0 % | 10 % |  | 20 % |  | 30 % | 40 % | 50 % |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |
| MAIN POSITIONS IN PORFOLIO |  |  |  |  |  |
|  | Portfolio | Maturity | Country | Instrument Group | Counterparty |
| SOCIETE GENERALE LUXEMBOURG | 6.23% | 12/12/2022 | Luxembourg | Bonds | - |
| BRED BANQUE POPULAIRE | 4.59% | 01/02/2022 | France | Money market | - |
| INTESA SANPAOLO BANK LUX SA | 4.27% | - | Luxembourg | Money market | - |
| LA BANQUE POSTALE | 3.94% | 07/03/2022 | France | Money market | - |
| SANTANDER CONSUMER FIN SA | 3.84% | - | Spain | Money market | - |
| SKANDINAVISKA ENSKILDA BANK AB | 3.29% | 10/03/2022 | Sweden | Money market | - |
| AAREAL BANK AG | 2.95% | 09/02/2022 | Germany | Money market | - |
| ENGIE SA | 2.95% | - | France | Money market | - |
| CASSA DEPOSITI E PRESTITI SPA | 2.63% | - | Italy | Money market | - |
| BANCO BILBAO VIZCAYA ARGENTARI | 2.43% | - | Spain | Money market | - |

Agency	Internal
For reverse repurchase, displayed maturity is of 1 day. It corresponds to the time necessary to settle the transaction
* Counterparty column: information only available for the reverse repurchase
| COUNTRY / SECTORS / MATURITIES MATRIX |  |
| --- | --- |
|  | 0-1 month | 1-3 months | > 3 months | Total |
| Euro Zone | 10.86% | 36.24% | 6.23% | 53.34% |
| France | 8.30% | 16.38% | 0.00% | 24.68% |
| Financials | 0.98% | 13.09% | 0.00% | 14.08% |
| Corporate | 6.69% | 3.28% | - | 9.98% |
|  | 0.62% | - | - | 0.62% |
| Germany | - | 2.95% | - | 2.95% |
| Financials | - | 2.95% | - | 2.95% |
| Italy | 0.98% | 3.48% | - | 4.47% |
| Financials | - | 2.63% | - | 2.63% |
| Corporate | 0.98% | 0.85% | - | 1.84% |
| Luxembourg | - | 4.27% | 6.23% | 10.50% |
| Financials | - | 4.27% | 6.23% | 10.50% |
| Spain | 1.58% | 9.16% | - | 10.73% |
| Financials | 1.58% | 6.20% | - | 7.78% |
| Govies & agencies | - | 1.31% | - | 1.31% |
| Corporate | - | 1.64% | - | 1.64% |
| Rest of the world | 1.64% | 6.21% | - | 7.85% |
| Sweden | - | 4.11% | - | 4.11% |
| Financials | - | 3.29% | - | 3.29% |
| Corporate | - | 0.82% | - | 0.82% |
| Switzerland | - | 1.31% | - | 1.31% |
|  | - | 1.31% | - | 1.31% |
| United Kingdom | - | 0.79% | - | 0.79% |
| Corporate | - | 0.79% | - | 0.79% |
| United States | 1.64% | - | - | 1.64% |
| Financials | 1.64% | - | - | 1.64% |
| Cash | 13.39% | 4.68% | 20.75% | 38.82% |

Translation (ENFR, 2021-12-31):
# ANALYSE DU PORTEFEUILLE GLOBAL
#### ANALYSE GLOBALE

##### 	Portefeuille	
WAM2
WAL Réglementaire69
Note Moy. Agence LT	A-
Nb. Emetteurs en PTF34
Nb. Lignes en PTF50
Liquidités	38,82%
Liquidités 24h	31,84%

#### REPARTITION PAR TYPES D'INSTRUMENTS (EN % DE L'ACTIF)
RÉPARTITION PAR MATURITÉS
0-1 mois
1-3 mois
> 3 mois
Liquidités
0 %	10 %	20 %	30 %	40 %	50 %
Portefeuille

#### REPARTITION PAR TYPES D'EMETTEURS
15,9
38,82 %
48,06 %
TCN
Liquidités Putable DAT
Obligations
42,02 %
38,8
Finance Liquidités Corporate Autres Etats et Agences

#### EVOLUTION DE LA WAL ET DE LA WAM (EN JOURS)	REPARTITION DES EMISSIONS PAR NOTATIONS LONG TERME
10
7,5
WAM
5
2,5
0
12/20
-2,5
60
AA
50
A
WAL
40	BBB+
BBB
30
BBB-
20
10/21
11/21
12/21
Liquidites
01/21
02/21
03/21
04/21
05/21
06/21
07/21
08/21
09/21
WAM (2) WAL (date de put) (52)
WAL (Weighted Average Life) : Durée de vie moyenne pondérée (DVMP) exprimée en nombre de jours WAM (Weighted Average Maturity) : Maturité moyenne pondérée (MMP) exprimée en nombre de jours
0 %	10 %	20 %	30 %	40 %	50 %
Agence Interne
| PRINCIPALES LIGNES EN PORTEFEUILLE |  |
| --- | --- |
|  | Portefeuille | Maturité | Pays | Groupe d'instrument | Contrepartie |
| SOCIETE GENERALE LUXEMBOURG | 6,23% | 12/12/2022 | Luxembourg | Obligations | - |
| BRED BANQUE POPULAIRE | 4,59% | 01/02/2022 | France | Monétaire | - |
| INTESA SANPAOLO BANK LUX SA | 4,27% | - | Luxembourg | Monétaire | - |
| LA BANQUE POSTALE | 3,94% | 07/03/2022 | France | Monétaire | - |
| SANTANDER CONSUMER FIN SA | 3,84% | - | Espagne | Monétaire | - |
| SKANDINAVISKA ENSKILDA BANK AB | 3,29% | 10/03/2022 | Suède | Monétaire | - |
| AAREAL BANK AG | 2,95% | 09/02/2022 | Allemagne | Monétaire | - |
| ENGIE SA | 2,95% | - | France | Monétaire | - |
| CASSA DEPOSITI E PRESTITI SPA | 2,63% | - | Italie | Monétaire | - |
| BANCO BILBAO VIZCAYA ARGENTARI | 2,43% | - | Espagne | Monétaire | - |

Pour les prises en pension, la maturité affichée correspond au temps nécessaire pour déboucler l'opération
* Colonne contrepartie: information uniquement disponible pour les prises en pension
| MATRICE PAYS / SECTEURS / MATURITES |  |
| --- | --- |
|  | 0-1 mois | 1-3 mois | > 3 mois | Total |
| Zone Euro | 10,86% | 36,24% | 6,23% | 53,34% |
| France | 8,30% | 16,38% | 0,00% | 24,68% |
| Finance | 0,98% | 13,09% | 0,00% | 14,08% |
| Corporate | 6,69% | 3,28% | - | 9,98% |
|  | 0,62% | - | - | 0,62% |
| Allemagne | - | 2,95% | - | 2,95% |
| Finance | - | 2,95% | - | 2,95% |
| Italie | 0,98% | 3,48% | - | 4,47% |
| Finance | - | 2,63% | - | 2,63% |
| Corporate | 0,98% | 0,85% | - | 1,84% |
| Luxembourg | - | 4,27% | 6,23% | 10,50% |
| Finance | - | 4,27% | 6,23% | 10,50% |
| Espagne | 1,58% | 9,16% | - | 10,73% |
| Finance | 1,58% | 6,20% | - | 7,78% |
| Etats & Agences | - | 1,31% | - | 1,31% |
| Corporate | - | 1,64% | - | 1,64% |
| Reste du monde | 1,64% | 6,21% | - | 7,85% |
| Suède | - | 4,11% | - | 4,11% |
| Finance | - | 3,29% | - | 3,29% |
| Corporate | - | 0,82% | - | 0,82% |
| Suisse | - | 1,31% | - | 1,31% |
|  | - | 1,31% | - | 1,31% |
| Royaume-Uni | - | 0,79% | - | 0,79% |
| Corporate | - | 0,79% | - | 0,79% |
| Etats-Unis | 1,64% | - | - | 1,64% |
| Finance | 1,64% | - | - | 1,64% |
| Liquidités | 13,39% | 4,68% | 20,75% | 38,82% |