# Sector Positioning
Security Holdings (excl. Derivatives)
Contribution to Duration Times Spread (incl. Derivatives)
|  | Fund | Index | Relative | Fund | Index | Relative |
| --- | --- | --- | --- | --- | --- | --- |
| Treasury | 0.00 | 0.00 | 0.00 | 0 | 0 | 0 |
| Quasi / Sov / Supra / Agncy | 3.56 | 18.84 | -15.28 | 178 | 416 | -238 |
| Agency Mortgages | 0.00 | 0.00 | 0.00 | 0 | 0 | 0 |
| Banks & Brokers | 21.95 | 14.45 | 7.50 | 463 | 234 | 229 |
| Insurance | 0.50 | 2.07 | -1.57 | 11 | 37 | -26 |
| Property | 21.35 | 12.64 | 8.71 | 1534 | 684 | 850 |
| Other Financials | 2.73 | 5.44 | -2.70 | 215 | 124 | 91 |
| Basic Industry | 4.51 | 7.65 | -3.15 | 117 | 124 | -7 |
| Capital Goods | 0.72 | 2.97 | -2.24 | 7 | 29 | -22 |
| Consumer Cyclical | 14.88 | 14.01 | 0.87 | 489 | 321 | 168 |
| Consumer Non Cyclical | 0.41 | 1.38 | -0.96 | 13 | 23 | -9 |
| Energy | 1.13 | 2.73 | -1.59 | 45 | 44 | 1 |
| Transportation | 0.82 | 3.01 | -2.19 | 49 | 50 | -1 |
| Technology | 1.66 | 1.25 | 0.41 | 18 | 14 | 4 |
| Communications | 5.18 | 1.84 | 3.34 | 123 | 31 | 93 |
| Industrial Other | 2.19 | 3.28 | -1.08 | 89 | 71 | 18 |
| Utility | 6.99 | 8.45 | -1.46 | 123 | 153 | -30 |
| Covered | 0.00 | 0.00 | 0.00 | 0 | 0 | 0 |
| Non Agency | 0.00 | 0.00 | 0.00 | 0 | 0 | 0 |
| ABS / MBS | 0.00 | 0.00 | 0.00 | 0 | 0 | 0 |
| Unclassified | 0.00 | 0.00 | 0.00 | 0 | 0 | 0 |
| Index Credit Default Swaps | 0.00 | 0.00 | 0.00 | -66 | 0 | -66 |
| Interest Rate Derivatives | 0.00 | 0.00 | 0.00 | 0 | 0 | 0 |
| FX / Derivative P&L | 0.57 | 0.00 | 0.57 | 2 | 0 | 2 |
| Cash | 10.83 | 0.00 | 10.83 | 0 | 0 | 0 |
| Rounding adjustment | 0.02 | -0.01 | - | 2 | -1 | 1 |
| Total | 100.00 | 100.00 | - | 3412 | 2354 | 1058 |

Security Holdings as a percent of total net assets. Contribution to duration-times-spread (DTS) in the appropriate unit of measure. DTS includes the effect of derivatives. ‘FX / Derivative P&L’ includes collateral balances with counterparties arising from derivatives used in the fund (this can lead to a negative balance).

Translation (ENFR, 2022-09-30):
# Positionnement sectoriel
Participations (hors dérivés)
Contribution à la DTS (Duration Time Spread) (y compris dérivés)
|  | Fonds | Indice | Relatif | Fonds | Indice | Relatif |
| --- | --- | --- | --- | --- | --- | --- |
| Bons du Trésor | 0,00 | 0,00 | 0,00 | 0 | 0 | 0 |
| Souverains et assimilés | 3,56 | 18,84 | -15,28 | 178 | 416 | -238 |
| Créances hypothécaires / agences | 0,00 | 0,00 | 0,00 | 0 | 0 | 0 |
| Banques & courtiers | 21,95 | 14,45 | 7,50 | 463 | 234 | 229 |
| Assurance | 0,50 | 2,07 | -1,57 | 11 | 37 | -26 |
| Immobilier | 21,35 | 12,64 | 8,71 | 1534 | 684 | 850 |
| Autres financières | 2,73 | 5,44 | -2,70 | 215 | 124 | 91 |
| Industrie de base | 4,51 | 7,65 | -3,15 | 117 | 124 | -7 |
| Biens d'équipement | 0,72 | 2,97 | -2,24 | 7 | 29 | -22 |
| Consommation cyclique | 14,88 | 14,01 | 0,87 | 489 | 321 | 168 |
| Consommation non-cyclique | 0,41 | 1,38 | -0,96 | 13 | 23 | -9 |
| Énergie | 1,13 | 2,73 | -1,59 | 45 | 44 | 1 |
| Transport | 0,82 | 3,01 | -2,19 | 49 | 50 | -1 |
| Technologie | 1,66 | 1,25 | 0,41 | 18 | 14 | 4 |
| Communication | 5,18 | 1,84 | 3,34 | 123 | 31 | 93 |
| Autres industries | 2,19 | 3,28 | -1,08 | 89 | 71 | 18 |
| Services aux collectivités | 6,99 | 8,45 | -1,46 | 123 | 153 | -30 |
| Sécurisé | 0,00 | 0,00 | 0,00 | 0 | 0 | 0 |
| Non garantis par une agence | 0,00 | 0,00 | 0,00 | 0 | 0 | 0 |
| ABS / MBS | 0,00 | 0,00 | 0,00 | 0 | 0 | 0 |
| Non classifié | 0,00 | 0,00 | 0,00 | 0 | 0 | 0 |
| CDS sur indice | 0,00 | 0,00 | 0,00 | -66 | 0 | -66 |
| Dérivés sur taux d'intérêts | 0,00 | 0,00 | 0,00 | 0 | 0 | 0 |
| FX/Derivative P&L | 0,57 | 0,00 | 0,57 | 2 | 0 | 2 |
| Liquidités | 10,83 | 0,00 | 10,83 | 0 | 0 | 0 |
| Arrondis | 0,02 | -0,01 | - | 2 | -1 | 1 |
| TOTAL | 100,00 | 100,00 | - | 3412 | 2354 | 1058 |

Participations en pourcentage de l'actif net total. Contribution à la DTS (Duration Times Spread) dans l'unité de mesure appropriée. La DTS tient compte de l'effet des instruments dérivés. « FX / Derivative P&L » inclut les soldes de garanties avec des contreparties découlant des instruments dérivés utilisés dans le fonds (solde négatif possible).