# PORTFOLIO BREAKDOWN
#### SECTOR BREAKDOWN *

#### GEOGRAPHICAL BREAKDOWN

#### BREAKDOWN BY CURRENCY *
Consumer discretionary
Industrials
Real estate Communication
Services
Information Technology
2.64
12.54
10.00
10.97
9.38
9.33
8.89
20.77
20.88
36.51
North America
Emerging countries
Europe ex-EMU
USD EUR HKD JPY
GBP
Financials
Health care
Consumer staples
Utilities Materials Energy Others
6.04
2.30
0.24
6.99
0.09
2.76
0.09
5.18
0.09
3.35
0.13
14.80
11.40
EMU
Asia ex-Japan
Japan
Others
AUD CAD CHF BRL SEK
Others
* % of assets
0 %	20 %	40 %
Portfolio  Benchmark
0 %	25 %	50 %	75 %
Portfolio  Benchmark
0 %	20 %	40 %	60 %  80 %
Portfolio  Benchmark
* As a percentage of the assets - including currency hedging

## ANALYSIS RATIOS
Issuer number (excluding cash)69
Cash as % of total assets	6.00%
Average market Cap (Bn €)
% Mid Caps + Small Caps
% Large Caps
Per 12 Month forward Price to Book
Price to Cash Flow Dividend Yield (%)
Annualized EPS Growth (n/n+2) (%) Annualized Revenue Growth (n/n+2) (%)
| MAIN POSITIONS IN PORFOLIO |  |
| --- | --- |
|  |  |  |  |
|  | Sector | Weight | Spread / Index |
| CHINA EDUCATION GR HLDG | Consumer discretionary | 3.20% | 3.20% |
| SLM CORP | Financials | 2.69% | 2.69% |
| NAVIENT CORPORATION | Financials | 2.58% | 2.58% |
| 2U INC | Consumer discretionary | 2.47% | 2.47% |
| MICROSOFT CORP | Information Technology | 2.37% | -0.36% |
| UNITE GROUP | Real estate | 2.28% | 2.28% |
| ASGN INC | Industrials | 2.27% | 2.27% |
| THOMSON REUTERS CORP (NYSE) | Industrials | 2.24% | 2.21% |
| COMPASS GROUP PLC - NEW | Consumer discretionary | 2.18% | 2.12% |
| CHEGG INC | Consumer discretionary | 2.15% | 2.15% |
| Excluding mutual funds |  |  |  |

Translation (ENFR, 2021-05-31):
# COMPOSITION DU PORTEFEUILLE
#### REPARTITION SECTORIELLE *

#### RÉPARTITION GÉOGRAPHIQUE

#### EXPOSITION PAR DEVISE *
Conso cyclique
Industrie
Immobilier
Services de communication
Technologies de
l'info.
2,64
12,54
10,00
10,97
9,38
9,33
8,89
20,77
20,88
36,51
Amérique du
nord
Pays émergents
Europe ex-EMU
USD EUR HKD JPY
GBP
Finance
Santé Conso non
6,04
2,30
0,24
14,80
11,40
Zone Euro
AUD CAD
cyclique Services publics
Matériaux Énergie Autres
6,99
0,09
2,76
0,09
5,18
0,09
3,35
0,13
0 %	20 %	40 %
Asie hors-Japon
Japon
Autres
CHF BRL SEK
Autres
0 %	20 %	40 %	60 %  80 %
Portefeuille Indice
0 %	25 %	50 %  75 %
|  |
| --- |
|  |
| * En pourcentage de l'actif |  |  |  |  | * En pourcentage de l’actif – avec couverture de change |  |
| RATIOS D'ANALYSE |  |  |  |  | Nombre d'émetteurs (hors liquidités) | 69 |
|  |  |  |  |  | Liquidités en % de l'actif | 6,00% |
|  |  |  | Portefeuille | Indice |  |  |
| Cap. boursière moy. (Mds €) |  |  | 49,92 | 258,37 |  |  |
| % Moyenne + Petite capitalisation |  |  | 85,42 | 29,69 |  |  |
| % Grande capitalisation |  |  | 14,58 | 70,31 |  |  |
| PER annuel anticipé |  |  | 19,79 | 18,85 |  |  |
| Prix sur actif net |  |  | 2,60 | 2,91 |  |  |
| Prix sur cashflow |  |  | 14,76 | 14,91 |  |  |
| Taux de rendement (en %) |  |  | 1,45 | 1,80 |  |  |
| Croissance BPA annualisé (n/n+2) (en %) |  |  | 28,91 | 14,40 |  |  |
| Croissance CA annualisé (n/n+2) (en %) |  |  | 13,03 | 8,44 |  |  |
| PRINCIPALES LIGNES EN PORTEFEUILLE |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  | Secteur |  | Poids (PTF) | Ecart / Indice |  |  |
| CHINA EDUCATION GR HLDG | Conso cyclique |  | 3,20% | 3,20% |  |  |
| SLM CORP | Finance |  | 2,69% | 2,69% |  |  |
| NAVIENT CORPORATION | Finance |  | 2,58% | 2,58% |  |  |
| 2U INC | Conso cyclique |  | 2,47% | 2,47% |  |  |
| MICROSOFT CORP | Technologies de l'info. |  | 2,37% | -0,36% |  |  |
| UNITE GROUP | Immobilier |  | 2,28% | 2,28% |  |  |
| ASGN INC | Industrie |  | 2,27% | 2,27% |  |  |
| THOMSON REUTERS CORP (NYSE) | Industrie |  | 2,24% | 2,21% |  |  |
| COMPASS GROUP PLC - NEW | Conso cyclique |  | 2,18% | 2,12% |  |  |
| CHEGG INC | Conso cyclique |  | 2,15% | 2,15% |  |  |
| Hors OPC |  |  |  |  |  |  |

Portefeuille Indice
Portefeuille Indice