# GROSS PERFORMANCE CONTRIBUTION	CAPITAL ALLOCATION BY STRATEGY
ALL
ALL ROADS
ALL ROADS
ALL ROADS
ROADS
ALL ROADS
CONSERVATIVE
GROWTH	STRATEGY	ALL ROADS
CONSERV. GROWTH
MTD	YTD	MTD	YTD	MTD	YTD 	Fixed Income – Sovereign	28.4%	14.2%	48.9%
| Fixed Income – Sovereign | 0.6% | -0.2% | 0.3% | -0.1% | 0.9% | -0.2% |  | Fixed Income – Inflation-Linked | 3.2% | 3.9% | 13.1% |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fixed Income – Inflation-Linked | 0.2% | -0.2% | 0.1% | -0.1% | 0.3% | -0.2% |  | Fixed Income – Developed CDS | 23.2% | 11.7% | 41.1% |
| Fixed Income – Developed CDS | 0.4% | 0.8% | 0.2% | 0.6% | 0.7% | 1.1% |  | Fixed Income – Emerging CDS | 11.4% | 5.8% | 20.3% |
| Fixed Income – Emerging CDS | 0.1% | 0.2% | 0.1% | 0.2% | 0.2% | 0.3% |  | Equities – Developed Markets | 16.6% | 8.4% | 28.2% |
| Equities – Developed Markets | 0.3% | 1.6% | 0.2% | 1.3% | 0.5% | 2.2% |  | Equities – Emerging Markets | 6.1% | 3.0% | 10.4% |
| Equities – Emerging Markets | 0.1% | -0.1% | 0.0% | -0.1% | 0.1% | -0.2% |  | Commodities | 10.3% | 5.1% | 17.7% |
| Commodities | 0.0% | 0.5% | 0.0% | 0.4% | 0.0% | 0.7% |  | Volatility | 9.1% | 4.6% | 16.1% |
| Volatility | 0.0% | 0.0% | 0.0% | 0.0% | -0.1% | 0.0% |  | LOF - All Roads Growth | - | - | - |
| FX | 0.3% | 2.9% | 0.2% | 2.5% | 0.4% | 3.1% |  | Exposure | 108.3% | 56.7% | 195.7% |
| Cash & Other | 0.3% | 1.8% | 0.2% | 1.4% | 0.5% | 2.5% |  | Non Euro Exposure | 1.7% | 1.0% | 2.4% |
| TOTAL | 2.2% | 7.3% | 1.3% | 5.9% | 3.4% | 9.3% |  |  |  |  |  |

Translation (ENFR, 2023-11-30):
# CONTRIBUTION À LA PERFORMANCE BRUTE	ALLOCATION DU CAPITAL PAR STRATÉGIE
ALL
ALL ROADS
ALL ROADS
ALL ROADS ROADS ALL CONSERVATI GROWT
STRATÉGIE	ALL ROADS
CONSERVATIVE
GROWTH	STRATÉGIE
ROADS
VE	H
MTD	YTD	MTD	YTD	MTD	YTD 	Revenu fixe – Obligations souveraines	28.4%	14.2%  48.9%
| Revenu fixe – Obligations souveraines | 0.6% | -0.2% | 0.3% | -0.1% | 0.9% | -0.2% |  | Revenu fixe – Indexé sur l’inflation | 3.2% | 3.9% | 13.1% |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenu fixe – Indexé sur l’inflation | 0.2% | -0.2% | 0.1% | -0.1% | 0.3% | -0.2% |  | Revenu fixe – CDS marchés développés | 23.2% | 11.7% | 41.1% |
| Revenu fixe – CDS marchés développés | 0.4% | 0.8% | 0.2% | 0.6% | 0.7% | 1.1% |  | Revenu fixe – CDS marchés émergents | 11.4% | 5.8% | 20.3% |
| Revenu fixe – CDS marchés émergents | 0.1% | 0.2% | 0.1% | 0.2% | 0.2% | 0.3% |  | Actions – Marchés développés | 16.6% | 8.4% | 28.2% |
| Actions – Marchés développés | 0.3% | 1.6% | 0.2% | 1.3% | 0.5% | 2.2% |  | Actions – Marchés émergents | 6.1% | 3.0% | 10.4% |
| Actions – Marchés émergents | 0.1% | -0.1% | 0.0% | -0.1% | 0.1% | -0.2% |  | Matières premières | 10.3% | 5.1% | 17.7% |
| Matières premières | 0.0% | 0.5% | 0.0% | 0.4% | 0.0% | 0.7% |  | Volatilité | 9.1% | 4.6% | 16.1% |
| Volatilité | 0.0% | 0.0% | 0.0% | 0.0% | -0.1% | 0.0% |  | Exposition | 108.3% | 56.7% | 195.7% |
| FX | 0.3% | 2.9% | 0.2% | 2.5% | 0.4% | 3.1% |  | Non Euro Exposure | 1.7% | 1.0% | 2.4% |
| Cash & Autres | 0.3% | 1.8% | 0.2% | 1.4% | 0.5% | 2.5% |  |  |  |  |  |
| TOTAL | 2.2% | 7.3% | 1.3% | 5.9% | 3.4% | 9.3% |  |  |  |  |  |