# Portfolio analysis (including derivatives)
61.42%
59.98%
64.96%
35.43%
33.24%
99.70%

## Asset allocation	Currency exposure
70%
60%
50%
40%
30%
20%
10%
0%
32.49%
3.15%
6.78%
2.55%
Equity	Bonds	Cash
30/04/2021	28/05/2021	30/06/2021
120%
90%
60%
30%
0%
-30%
0.70%
0.08%
0.00%
0.00%
0.00%
-0.38%
USD	EUR	AUD	NOK	SEK	HKD	Other
Portfolio
Breakdown by asset class / region
|  | Equity | Bonds | Cash | Total |
| --- | --- | --- | --- | --- |
| North America | 38.50% | 12.06% | 0.56% | 51.12% |
| Euro Zone | 9.07% | 13.33% | 0.96% | 23.36% |
| Pacific ex-Japan | 11.01% | 4.10% | 0.07% | 15.18% |
| Europe ex Euro Zone | 3.73% | 2.99% | 0.97% | 7.69% |
| Japan | 2.66% |  | 0.00% | 2.66% |
| Total | 64.96% | 32.49% | 2.55% |  |

| Equities |  |
| --- | --- |
| Main stocks |  |  |  |  |
| Equity | Weighting | Sector | Issuer country | Currency |
| Prologis Inc | 4.27% | Real estate | United States | USD |
| Welltower Inc | 2.94% | Real estate | United States | USD |
| Equinix Inc | 2.57% | Real estate | United States | USD |
| Goodman Group | 2.54% | Real estate | Australia | AUD |
| AvalonBay Communities Inc | 2.44% | Real estate | United States | USD |
| American Homes 4 Rent | 2.23% | Real estate | United States | USD |
| Xior Student Housing NV | 2.17% | Real estate | Belgium | EUR |
| CapitaLand Ltd | 2.16% | Real estate | Singapore | SGD |
| Link REIT | 2.06% | Real estate | Hong Kong | HKD |
| Number of Holdings | 58 |  |  |  |

| Fixed income |  |
| --- | --- |
| Largest holdings (except cash) |  |  |  |  |
| Name | Weighting | Issuer country | Modified duration | Contribution** |
| Sun Hung Kai Properties 2.875% 01/21/2030 | 1.37% | Hong Kong | 7.5 | 0.10 |
| Vesteda Finance BV 2% 07/10/2026 | 1.18% | Netherlands | 4.5 | 0.10 |
| Inmobiliaria Colonial SA 0.75% 06/22/2029 | 1.12% | Spain | 7.5 | 0.10 |
| Sagax AB 2.25% 03/13/2025 | 0.98% | Sweden | 3.3 | 0.00 |
| Alstria Office REIT-AG 1.5% 11/15/2027 | 0.95% | Germany | 5.8 | 0.10 |
| UDR Inc 4.4% 01/26/2029 | 0.93% | United States | 6.3 | 0.10 |
| SELP FINANCE Sarl 1.5% 12/20/2026 | 0.92% | Luxemburg | 5.0 | 0.00 |
| Atrium European Real Estate Ltd 3% 09/11/... | 0.85% | Jersey | 3.7 | 0.00 |
| Physicians Realty LP 4.3% 03/15/2027 | 0.84% | United States | 4.9 | 0.00 |
| Scentre Group Trust 1 / Trust 2 3.625% 01... | 0.83% | Australia | 4.1 | 0.00 |
| Sensitivity (Fixed Income) Number of Holdings | 87 |  | 0.6 |  |
| **Contribution to portfolio risk (%) |  |  |  |  |
| Allocation by rating / maturity - Fixed income |  |  |  |  |
| A | BBB | BB | Cash | Total |
| Cash |  |  | 7.29% | 7.29% |
| 0-1 year	0.83% | 1.07% |  |  | 1.90% |
| 1-3 years	0.70% | 2.89% | 1.44% |  | 5.03% |
| 3-5 years	6.96% | 16.49% |  |  | 23.45% |
| 5-7 years	4.55% | 24.18% | 0.73% |  | 29.46% |
| 7-10 years	7.26% | 25.22% |  |  | 32.48% |
| 10-20 years | 0.40% |  |  | 0.40% |
| Total	20.30% | 70.24% | 2.17% | 7.29% |  |

Translation (ENFR, 2021-06-30):
# Analyse du portefeuille (y compris produits dérivés)
61.42%
59.98%
64.96%
35.43%
33.24%
99.70%

## Evolution de la composition	Exposition par devise
70%
60%
50%
40%
30%
20%
10%
0%
32.49%
3.15%
6.78%
2.55%
Actions	Obligations	Monétaire
30/04/2021	28/05/2021	30/06/2021
120%
90%
60%
30%
0%
-30%
0.70%
0.08%
0.00%
0.00%
0.00%
-0.38%
USD	EUR	AUD	NOK	SEK	HKD	Autres
Portefeuille
Exposition par classe d'actif / zone géographique
|  | Actions | Obligations | Monétaire | Total |
| --- | --- | --- | --- | --- |
| Amérique du Nord | 38.50% | 12.06% | 0.56% | 51.12% |
| Zone Euro | 9.07% | 13.33% | 0.96% | 23.36% |
| Pacifique hors Japon | 11.01% | 4.10% | 0.07% | 15.18% |
| Europe hors Euro | 3.73% | 2.99% | 0.97% | 7.69% |
| Japon | 2.66% |  | 0.00% | 2.66% |
| Total | 64.96% | 32.49% | 2.55% |  |

| Poche actions |  |
| --- | --- |
| Les principales valeurs |  |  |  |  |
| Action | Pondération | Secteur | Pays émetteur | Devise |
| Prologis Inc | 4.27% | Immobilier | Etats-Unis | USD |
| Welltower Inc | 2.94% | Immobilier | Etats-Unis | USD |
| Equinix Inc | 2.57% | Immobilier | Etats-Unis | USD |
| Goodman Group | 2.54% | Immobilier | Australie | AUD |
| AvalonBay Communities Inc | 2.44% | Immobilier | Etats-Unis | USD |
| American Homes 4 Rent | 2.23% | Immobilier | Etats-Unis | USD |
| Xior Student Housing NV | 2.17% | Immobilier | Belgique | EUR |
| CapitaLand Ltd | 2.16% | Immobilier | Singapour | SGD |
| Link REIT | 2.06% | Immobilier | Hong-Kong | HKD |
| Nombre de lignes | 58 |  |  |  |

| Poche obligations |  |
| --- | --- |
| Les principales lignes (hors liquidités) |  |  |  |  |
| Libellé | Pondération | Pays émetteur | Sensibilité | Contribution** |
| Sun Hung Kai Properties 2.875% 01/21/2030 | 1.37% | Hong-Kong | 7.5 | 0.10 |
| Vesteda Finance BV 2% 07/10/2026 | 1.18% | Pays-Bas | 4.5 | 0.10 |
| Inmobiliaria Colonial SA 0.75% 06/22/2029 | 1.12% | Espagne | 7.5 | 0.10 |
| Sagax AB 2.25% 03/13/2025 | 0.98% | Suède | 3.3 | 0.00 |
| Alstria Office REIT-AG 1.5% 11/15/2027 | 0.95% | Allemagne | 5.8 | 0.10 |
| UDR Inc 4.4% 01/26/2029 | 0.93% | Etats-Unis | 6.3 | 0.10 |
| SELP FINANCE Sarl 1.5% 12/20/2026 | 0.92% | Luxembourg | 5.0 | 0.00 |
| Atrium European Real Estate Ltd 3% 09/11/... | 0.85% | Jersey | 3.7 | 0.00 |
| Physicians Realty LP 4.3% 03/15/2027 | 0.84% | Etats-Unis | 4.9 | 0.00 |
| Scentre Group Trust 1 / Trust 2 3.625% 01... | 0.83% | Australie | 4.1 | 0.00 |
| Sensibilité de la poche TAUX Nombre de lignes | 87 |  | 0.6 |  |
| **Contribution au risque portefeuille (%) |  |  |  |  |
| Exposition rating / échéance - Obligations |  |  |  |  |
| A | BBB | BB | Monétaire | Total |
| Monétaire |  |  | 7.29% | 7.29% |
| 0-1 an	0.83% | 1.07% |  |  | 1.90% |
| 1-3 ans	0.70% | 2.89% | 1.44% |  | 5.03% |
| 3-5 ans	6.96% | 16.49% |  |  | 23.45% |
| 5-7 ans	4.55% | 24.18% | 0.73% |  | 29.46% |
| 7-10 ans	7.26% | 25.22% |  |  | 32.48% |
| 10-20 ans | 0.40% |  |  | 0.40% |
| Total	20.30% | 70.24% | 2.17% | 7.29% |  |