# HOLDINGS: % OF PORTFOLIO
## Main Holdings (%)

## by Country (%)
Against Benchmark
| GERMANY (FEDERAL REPUBLIC OF) 0.25 PCT | 7.79 |
| --- | --- |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 7.55 |
| FRANCE (REPUBLIC OF) 2.50 PCT 25-MAY-2030 | 5.34 |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 3.73 |
| SPAIN (KINGDOM OF) 0.35 PCT 30-JUL-2023 | 3.70 |
| ITALY (REPUBLIC OF) 0.60 PCT 01-AUG-2031 | 3.39 |
| GERMANY (FEDERAL REPUBLIC OF) 0.50 PCT | 3.21 |
| EUROPEAN UNION 0.00 PCT 04-OCT-2028 | 3.19 |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 3.09 |
| GERMANY (FEDERAL REPUBLIC OF) 1.25 PCT | 2.65 |
| No. of Holdings in Portfolio | 108 |

| Germany | 36.60 | + 17.63 |
| --- | --- | --- |
| Italy | 14.38 | + 0.36 |
| France | 13.17 | - 9.03 |
| Supranational | 7.38 | + 1.80 |
| Spain | 5.27 | - 4.73 |
| Romania | 3.49 | + 3.18 |
| Austria | 2.84 | + 0.16 |
| United States | 2.53 | - 1.15 |
| Belgium | 2.30 | - 1.55 |
| Mexico | 1.96 | + 1.78 |
| Derivatives | -0.05 | - 0.05 |
| Forex contracts | 0.07 | + 0.07 |
| Other | 6.05 | - 12.50 |
| Cash | 4.02 | + 4.02 |
| Total | 100.00 |  |


## by Rating (%)

## by Currency (%)
Against Benchmark
| AAA | 42.90 |
| --- | --- |
| AA+ | 2.14 |
| AA | 8.03 |
| AA- | 2.48 |
| A- | 7.27 |
| BBB+ | 2.20 |
| BBB | 17.57 |
| BBB- | 7.20 |
| B+ | 1.31 |
| Other | 4.11 |
| Not rated | 0.75 |
| Derivatives | -0.05 |
| Forex contracts | 0.07 |
| Cash | 4.02 |
| Total | 100.00 |

| EUR | 97.62 | - 2.38 |
| --- | --- | --- |
| USD | 2.78 | + 2.77 |
| GBP | 0.09 | + 0.09 |
| PLN | -0.48 | - 0.48 |
| Total | 100.00 |  |

Source of data: BNP Paribas Asset Management, as at 31.01.2022
Sources: Fitch, Moody’s, S&P. Ratings lower than BBB- refer to high-yield or speculative-grade bonds.
The above mentioned securities are for illustrative purpose only and do not constitute any investment recommendation.

Translation (ENFR, 2022-01-31):
# POSITIONS : % DU PORTEFEUILLE
Principales positions
| GERMANY (FEDERAL REPUBLIC OF) 0.25 PCT | 7,79 |
| --- | --- |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 7,55 |
| FRANCE (REPUBLIC OF) 2.50 PCT 25-MAY-2030 | 5,34 |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 3,73 |
| SPAIN (KINGDOM OF) 0.35 PCT 30-JUL-2023 | 3,70 |
| ITALY (REPUBLIC OF) 0.60 PCT 01-AUG-2031 | 3,39 |
| GERMANY (FEDERAL REPUBLIC OF) 0.50 PCT | 3,21 |
| EUROPEAN UNION 0.00 PCT 04-OCT-2028 | 3,19 |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 3,09 |
| GERMANY (FEDERAL REPUBLIC OF) 1.25 PCT | 2,65 |
| Nb de positions dans le portefeuille | 108 |

par Notation
par Pays	Contre l'Indice
| Allemagne | 36,60 | + 17,63 |
| --- | --- | --- |
| Italie | 14,38 | + 0,36 |
| France | 13,17 | - 9,03 |
| Supranational | 7,38 | + 1,80 |
| Espagne | 5,27 | - 4,73 |
| Roumanie | 3,49 | + 3,18 |
| Autriche | 2,84 | + 0,16 |
| États-Unis | 2,53 | - 1,15 |
| Belgique | 2,30 | - 1,55 |
| Mexique | 1,96 | + 1,78 |
| Produits dérivés | -0,05 | - 0,05 |
| Contrats de change | 0,07 | + 0,07 |
| Autres | 6,05 | - 12,50 |
| Liquidités | 4,02 | + 4,02 |
| Total | 100,00 |  |

par Devise	Contre l'Indice
| AAA | 42,90 |
| --- | --- |
| AA+ | 2,14 |
| AA | 8,03 |
| AA- | 2,48 |
| A- | 7,27 |
| BBB+ | 2,20 |
| BBB | 17,57 |
| BBB- | 7,20 |
| B+ | 1,31 |
| Autres | 4,11 |
| Non noté | 0,75 |
| Produits dérivés | -0,05 |
| Contrats de change | 0,07 |
| Liquidités | 4,02 |
| Total | 100,00 |

| EUR | 97,62 | - 2,38 |
| --- | --- | --- |
| USD | 2,78 | + 2,77 |
| GBP | 0,09 | + 0,09 |
| PLN | -0,48 | - 0,48 |
| Total | 100,00 |  |

Source : BNP Paribas Asset Management, en date du 31.01.2022
Sources : Fitch, Moody's, S&P. Les notations < BBB- correspondent à la catégorie de titres à haut rendement ou titres spéculatifs
Les titres ci-dessus sont mentionnés à titre d’information uniquement et ne doivent pas être considérés comme une recommandation d’investissement.