# PORTOFOLIO ANALYSIS
#### GLOBAL ANALYSIS
UCIT	
| WAM | 41 |
| --- | --- |
| WAL Regulatory | 125 |
| Agency average LT rating | A- |
| Nb of issuers | 76 |
| Number of lines | 231 |
| Liquidity inf. 7 days | 34.03% |
| Liquidités 24h | 26.18% |


#### MATURITY BREAKDOWN
0-1 month
1-3 months
3-6 months
6-12 months
1-2 years
Cash
0 %	5 %	10 %	15 %	20 %	25 %	30 %	35 % 40 %
Portfolio

#### BREAKDOWN BY INSTRUMENT TYPE (AS % OF TOTAL ASSETS)	PORTFOLIO STRUCTURE
34.03
52.99 %
TCN
Liquidities Bond DAT
Putable
34.03
54.28
…
Financials Liquidity Corporates Others
Sovereigns/Supra/Agencies

#### EVOLUTION OF WAL AND WAM (IN DAYS)	BREAKDOWN BY EMISSION RATING
65	140
60	130
WAL
WAM
55	120
50	110
45	100
AA A BBB+ BBB BBB-
02/21
03/21
04/21
05/21
06/21
07/21
08/21
09/21
10/21
11/21
12/21
01/22
40	90
WAM (41) WAL (put days) (122)
NR
Liquidites
0 %	10 %	20 %	30 %	40 %	50 %
WAL (Weighted Average Life) : credit duration in days
WAM (Weighted Average Maturity) : modified duration in days
Agency Internal
| MAIN POSITIONS IN PORFOLIO |  |
| --- | --- |
|  | Portfolio | Maturity | Country | Instrument Group | Counterparty |
| BANQUE FED.CREDIT MUTUEL | 6.05% | - | France | Money market | - |
| BPCE SA | 5.63% | - | France | Money market | - |
| SOCIETE GENERALE | 5.55% | - | France | - | SOCIETE GENERALE |
| UNICREDIT SPA | 4.56% | - | Italy | Money market | - |
| BARCLAYS BANK PLC | 4.32% | - | United Kingdom | - | - |
| BNP PARIBAS SA | 3.57% | - | France | Money market | - |
| NORDEA BANK ABP | 2.62% | - | Finland | Money market | - |
| CASSA DEPOSITI E PRESTITI SPA | 2.49% | - | Italy | Money market | - |
| INTESA SANPAOLO BANK IRELAND | 2.34% | - | Italy | Money market | - |
| SVENSKA HANDELSBANKEN AB | 2.18% | - | Sweden | Money market | - |

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 | 3-6 months | 6-12 months | 1-2 years | Total |
| --- | --- | --- | --- | --- | --- | --- |
| Euro Zone | 5.06% | 14.81% | 8.00% | 23.98% | 1.53% | 53.37% |
| Belgium | - | 0.31% | - | 0.39% | - | 0.70% |
| Financials | - | 0.31% | - | 0.39% | - | 0.70% |
| Finland | - | 0.54% | - | 1.85% | - | 2.39% |
| Financials | - | 0.54% | - | 1.85% | - | 2.39% |
| France | 1.78% | 9.13% | 4.30% | 15.44% | 0.24% | 30.88% |
| Financials | 0.37% | 7.80% | 4.20% | 15.44% | - | 27.80% |
| Corporate | 1.41% | 0.86% | 0.10% | - | 0.24% | 2.61% |
| Govies & agencies | - | 0.47% | - | - | - | 0.47% |
| Germany | - | - | - | - | 0.56% | 0.56% |
| Corporate | - | - | - | - | 0.56% | 0.56% |
| Ireland | - | - | - | 0.30% | - | 0.30% |
| Financials | - | - | - | 0.30% | - | 0.30% |
| Italy | 1.14% | 2.31% | 1.93% | 3.70% | - | 9.09% |
| Financials | 0.65% | 1.71% | 1.93% | 3.70% | - | 7.99% |
| Govies & agencies | 0.00% | - | - | - | - | 0.00% |
| Corporate | 0.49% | 0.60% | - | - | - | 1.09% |
| Luxembourg | 0.10% | - | 0.80% | 1.25% | 0.29% | 2.45% |
| Financials | 0.10% | - | 0.80% | 1.25% | - | 2.15% |
| Corporate | - | - | - | - | 0.29% | 0.29% |
| Netherlands | - | 0.21% | 0.15% | 0.50% | 0.44% | 1.29% |
| Financials | - | 0.21% | 0.15% | 0.50% | - | 0.86% |
| Corporate | - | - | - | - | 0.44% | 0.44% |
| Spain | 2.03% | 2.31% | 0.82% | 0.54% | - | 5.71% |
| Financials | 0.71% | 1.40% | 0.40% | 0.54% | - | 3.05% |
| Govies & agencies | 0.30% | 0.10% | - | - | - | 0.40% |
| Corporate | 1.03% | 0.81% | 0.41% | - | - | 2.26% |
| Rest of the world | 1.19% | 1.85% | 1.28% | 6.27% | 2.02% | 12.60% |
| Australia | - | - | - | 0.70% | - | 0.70% |
| Corporate | - | - | - | 0.70% | - | 0.70% |
| Canada | - | - | - | - | 0.45% | 0.45% |
| Financials | - | - | - | - | 0.45% | 0.45% |
| Japan | - | - | 0.55% | 0.31% | 0.39% | 1.25% |
| Corporate | - | - | 0.55% | 0.31% | 0.39% | 1.25% |
| Sweden | 0.14% | 1.09% | - | 1.09% | 0.50% | 2.81% |
| Financials | - | 1.09% | - | 1.09% | - | 2.18% |
| Corporate | 0.14% | - | - | - | 0.50% | 0.63% |
| United Kingdom | 0.40% | - | 0.72% | 3.80% | - | 4.93% |
| Financials | 0.22% | - | 0.72% | 3.80% | - | 4.74% |
| Corporate | 0.19% | - | - | - | - | 0.19% |
| United States | 0.65% | 0.76% | - | 0.38% | 0.67% | 2.46% |
| Financials | 0.65% | - | - | - | - | 0.65% |
| Corporate | - | 0.76% | - | 0.38% | 0.67% | 1.81% |
| Cash | 34.03% | - | - | - | - | 34.03% |

Translation (ENFR, 2022-01-31):
# ANALYSE DU PORTEFEUILLE GLOBAL
#### ANALYSE GLOBALE
Portefeuille	
| WAM | 41 |
| --- | --- |
| WAL Réglementaire | 125 |
| Note Moy. Agence LT | A- |
| Nb. Emetteurs en PTF | 76 |
| Nb. Lignes en PTF | 231 |
| Liquidités | 34,03% |
| Liquidités 24h | 26,18% |


#### RÉPARTITION PAR MATURITÉS
0-1 mois
1-3 mois
3-6 mois
6-12 mois
1-2 ans Liquidités
0 %	5 %	10 %	15 %	20 %	25 %	30 %	35 % 40 %
Portefeuille

#### REPARTITION PAR TYPES D'INSTRUMENTS (EN % DE L'ACTIF)	REPARTITION PAR TYPES D'EMETTEURS
34,03
52,99 %
TCN
Liquidités Obligations DAT
Putable
34,03
54,28 %
Finance Liquidités Corporate Autres
Etats et Agences

#### EVOLUTION DE LA WAL ET DE LA WAM (EN JOURS)	REPARTITION DES EMISSIONS PAR NOTATIONS LONG TERME
65	140
60	130
WAL
WAM
55	120
50	110
45	100
AA A BBB+ BBB BBB-
02/21
03/21
04/21
05/21
06/21
07/21
08/21
09/21
10/21
11/21
12/21
01/22
40	90
WAM (41) WAL (date de put) (122)
NR
Liquidites
0 %	10 %	20 %	30 %	40 %	50 %
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
Agence Interne
| PRINCIPALES LIGNES EN PORTEFEUILLE |  |
| --- | --- |
|  | Portefeuille | Maturité | Pays | Groupe d'instrument | Contrepartie |
| BANQUE FED.CREDIT MUTUEL | 6,05% | - | France | Monétaire | - |
| BPCE SA | 5,63% | - | France | Monétaire | - |
| SOCIETE GENERALE | 5,55% | - | France | - | SOCIETE GENERALE |
| UNICREDIT SPA | 4,56% | - | Italie | Monétaire | - |
| BARCLAYS BANK PLC | 4,32% | - | Royaume-Uni | - | - |
| BNP PARIBAS SA | 3,57% | - | France | Monétaire | - |
| NORDEA BANK ABP | 2,62% | - | Finlande | Monétaire | - |
| CASSA DEPOSITI E PRESTITI SPA | 2,49% | - | Italie | Monétaire | - |
| INTESA SANPAOLO BANK IRELAND | 2,34% | - | Italie | Monétaire | - |
| SVENSKA HANDELSBANKEN AB | 2,18% | - | Suède | 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 | 3-6 mois | 6-12 mois | 1-2 ans | Total |
| Zone Euro | 5,06% | 14,81% | 8,00% | 23,98% | 1,53% | 53,37% |
| Belgique | - | 0,31% | - | 0,39% | - | 0,70% |
| Finance | - | 0,31% | - | 0,39% | - | 0,70% |
| Finlande | - | 0,54% | - | 1,85% | - | 2,39% |
| Finance | - | 0,54% | - | 1,85% | - | 2,39% |
| France | 1,78% | 9,13% | 4,30% | 15,44% | 0,24% | 30,88% |
| Finance | 0,37% | 7,80% | 4,20% | 15,44% | - | 27,80% |
| Corporate | 1,41% | 0,86% | 0,10% | - | 0,24% | 2,61% |
| Etats & Agences | - | 0,47% | - | - | - | 0,47% |
| Allemagne | - | - | - | - | 0,56% | 0,56% |
| Corporate | - | - | - | - | 0,56% | 0,56% |
| Irlande | - | - | - | 0,30% | - | 0,30% |
| Finance | - | - | - | 0,30% | - | 0,30% |
| Italie | 1,14% | 2,31% | 1,93% | 3,70% | - | 9,09% |
| Finance | 0,65% | 1,71% | 1,93% | 3,70% | - | 7,99% |
| Etats & Agences | 0,00% | - | - | - | - | 0,00% |
| Corporate | 0,49% | 0,60% | - | - | - | 1,09% |
| Luxembourg | 0,10% | - | 0,80% | 1,25% | 0,29% | 2,45% |
| Finance | 0,10% | - | 0,80% | 1,25% | - | 2,15% |
| Corporate | - | - | - | - | 0,29% | 0,29% |
| Pays-Bas | - | 0,21% | 0,15% | 0,50% | 0,44% | 1,29% |
| Finance | - | 0,21% | 0,15% | 0,50% | - | 0,86% |
| Corporate | - | - | - | - | 0,44% | 0,44% |
| Espagne | 2,03% | 2,31% | 0,82% | 0,54% | - | 5,71% |
| Finance | 0,71% | 1,40% | 0,40% | 0,54% | - | 3,05% |
| Etats & Agences | 0,30% | 0,10% | - | - | - | 0,40% |
| Corporate | 1,03% | 0,81% | 0,41% | - | - | 2,26% |
| Reste du monde | 1,19% | 1,85% | 1,28% | 6,27% | 2,02% | 12,60% |
| Australie | - | - | - | 0,70% | - | 0,70% |
| Corporate | - | - | - | 0,70% | - | 0,70% |
| Canada | - | - | - | - | 0,45% | 0,45% |
| Finance | - | - | - | - | 0,45% | 0,45% |
| Japon | - | - | 0,55% | 0,31% | 0,39% | 1,25% |
| Corporate | - | - | 0,55% | 0,31% | 0,39% | 1,25% |
| Suède | 0,14% | 1,09% | - | 1,09% | 0,50% | 2,81% |
| Finance | - | 1,09% | - | 1,09% | - | 2,18% |
| Corporate | 0,14% | - | - | - | 0,50% | 0,63% |
| Royaume-Uni | 0,40% | - | 0,72% | 3,80% | - | 4,93% |
| Finance | 0,22% | - | 0,72% | 3,80% | - | 4,74% |
| Corporate | 0,19% | - | - | - | - | 0,19% |
| Etats-Unis | 0,65% | 0,76% | - | 0,38% | 0,67% | 2,46% |
| Finance | 0,65% | - | - | - | - | 0,65% |
| Corporate | - | 0,76% | - | 0,38% | 0,67% | 1,81% |
| Liquidités | 34,03% | - | - | - | - | 34,03% |