# Portfolio Analysis
## Asset Allocation (%)
-10	0	10	20	30	40	50	60	70	80	90	100	110
| Equities | 96.52 | 97.07 | 97.55 | 97.75 | 95.79 | 93.26 | 84.47 | 98.20 | 76.21 | 89.82 | 80.42 | 72.08 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 4.31 | 1.62 | 1.60 | 0.89 | 1.64 | 1.62 | 1.65 | 1.65 | 1.68 | 1.62 | 1.68 | 1.88 |
| Bonds | 1.07 | 0.69 | 0.62 | 1.75 | 0.56 | 0.56 | 0.56 | 0.81 | 0.81 | 0.79 | 0.72 | 0.78 |
| Monetary | -1.90 | 0.62 | 0.24 | -0.40 | 2.01 | 4.56 | 13.32 | -0.65 | 21.30 | 7.78 | 17.19 | 25.26 |

31/03/2021
30/04/2021
31/05/2021
30/06/2021
30/07/2021
31/08/2021
30/09/2021
29/10/2021
30/11/2021
31/12/2021
31/01/2022
28/02/2022
For the Asset allocation, the equities derivatives exposure is included in the equities part . The counterpart of this exposure is included in the monetary part and gives an overall exposure of 100%.

## Currency Breakdown (%)
70
60
50
40
30
20
10
0	EUR	USD	GBP	HKD	SEK	CNH	Other
Portfolio	60.94	14.23	11.59	7.18	2.91	1.80	1.35
Source(s): AXA Investment Managers - GICS as at 28/02/2022
For more information about AXA IM, visit axa-im.com
| Equity : 72% of the overall Portfolio |  |
| --- | --- |
| Sector Breakdown (%) |  |  | Securities Exposure by geographical area (%) |  |
|  | Portfolio |  |  | Portfolio |
| IT | 24.40 |  | European Economic Area | 23.49 |
| Cons. disc. | 15.78 |  | North America | 20.64 |
| Financials | 15.61 |  | Others | 11.93 |
| Cons. stap. | 15.61 |  | Emerging Markets | 10.43 |
| Industrials | 13.16 |  | Japan | 5.19 |
| Health Care | 6.10 |  | Asia ex Japan | 0.56 |
| Communication Services | 5.67 |  |
| Materials | 3.47 |
| Real estate | 0.56 |
| Energy | 0.36 |
| Utilities | -0.73 |
| MarketCap Breakdown (EUR - %) |  |

40
36
32
28
24
20
16
12
8
4
- 0 To250mn250mn To 500mn500mn To 1bn1bn To 3bn3bn To 5bn5bn To 10bn10bn To 25bn25bn To 100bn100bn To 250bnMore Than 250bnPort.	0.13	0.01	0.55	2.88	5.08	9.01	12.76	34.59	7.37	12.02Source(s): AXA Investment Managers - GICS as at 28/02/2022For more information about AXA IM, visit axa-im.com

| Top 10 Holdings |  |
| --- | --- |
| Equity	Weighting (%) | Sector | Issuer country | Currency |
| Diageo PLC	3.61 | Cons. stap. | Others | GBP |
| Keyence Corp	2.05 | IT | Japan | JPY |
| Prysmian SpA	1.90 | Industrials | European Economic Area | EUR |
| Inner Mongolia Yili Industrial Group Co Ltd	1.80 | Cons. stap. | Emerging Markets | CNH |
| Nestle SA	1.72 | Cons. stap. | European Economic Area | CHF |
| Rio Tinto PLC	1.65 | Materials | Others | GBP |
| Moody's Corp	1.52 | Financials | North America | USD |
| MSCI Inc	1.45 | Financials | North America | USD |
| MasterCard Inc	1.44 | IT | North America | USD |
| Cie Financiere Richemont SA	1.42 | Cons. disc. | European Economic Area | CHF |
| Total (%)	18.54 |  |  |  |
| Fixed Income : 1% of the overall portfolio |  |  |  |
| Fund Key Metrics |  |  |  |  |
|  | Portfolio |  |  | Portfolio |
| Number of Holdings | 2 | Mod. Duration |  | 1.87 |
| Number of Issuers | 2 | Yield To Worst (%) |  | 5.16 |
| Linear Average Rating | A |  |  |  |
| Top 10 Holdings |  |  |  |  |
| Name | Weighting (%) | Issuer country | Modified duration | Contribution |
| France Treasury Bill BTF 04/06/2022 | 0.20 | European Economic Area | 0.1 | 0.00 |
| Frontline Re Ltd VAR 07/06/2022 | 0.03 | Others | 0.1 | 0.00 |
| Tailwind RE Ltd VAR 01/08/2025 | 0.03 | Others | 0.1 | 0.00 |
| Residential Reinsurance 2018 Ltd VAR 06/06/2022 | 0.02 | Others | 0.0 | 0.00 |
| FloodSmart Re Ltd VAR 03/01/2024 | 0.02 | Others | 0.0 | 0.00 |
| Nakama Re Pte Ltd VAR 10/13/2026 | 0.02 | Asia ex Japan | 0.1 | 0.00 |
| Sutter Re Ltd VAR 06/06/2022 | 0.02 | Others | 0.0 | 0.00 |
| Alamo Re Ltd VAR 06/07/2024 | 0.02 | Others | 0.0 | 0.00 |
| Colombia (Republic of) 3.875% 03/22/2026 | 0.02 | Emerging Markets | 3.4 | 0.00 |
| Merna Reinsurance II Ltd VAR 07/08/2024 | 0.02 | Others | 0.1 | 0.00 |
| Total (%) | 0.38 |  |  |  |

Source(s): AXA Investment Managers - GICS as at 28/02/2022
For more information about AXA IM, visit axa-im.com

## Maturity Breakdown (%)
0.6
0.4
0.2
0.0
- year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 yearsPortfolio	0.43	0.53	0.31	0.16	0.16	0.03	0.01


## Rating Breakdown (%)
1.0
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |  |  |  |  |  |  |  |  |

0.8
0.6
0.4
0.2
| 0.0 | AA | A | BBB | BB | B | CCC | NR |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 0.23 | 0.04 | 0.19 | 0.23 | 0.14 | 0.02 | 0.79 |


## Instrument Type Breakdown (%)
0.6
0.4
0.2
0.0
Not Classified	Industrials	Quasi & Foreign
Government
Financial	Sovereign	Utility	Securitized
Portfolio	0.48	0.35	0.29	0.29	0.21	0.01	0.01
| Diversification : 2% of the overall portfolio |  |
| --- | --- |
| Top 10 Holdings |
| Equity | Weighting (%) | Issuer country | Currency |
| MIRABAUD - CONVERTIBLE BONDS EUROPE | 0.97 | Others | EUR |
| AXA IM WAVE CAT BDS M CAPUSD | 0.00 | Others | USD |
| AXA IM WAVE CAT-MCEURH | 0.00 | Others | EUR |
| Total (%) | 0.97 |  |  |
| Source(s): AXA Investment Managers - GICS as at 28/02/2022 For more information about AXA IM, visit axa-im.com |  |  |  |

Translation (ENFR, 2022-02-28):
# Analyse du portefeuille
## Répartition par classe d'actifs (%)
-10	0	10	20	30	40	50	60	70	80	90	100	110
| Actions | 96.52 | 97.07 | 97.55 | 97.75 | 95.79 | 93.26 | 84.47 | 98.20 | 76.21 | 89.82 | 80.42 | 72.08 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 4.31 | 1.62 | 1.60 | 0.89 | 1.64 | 1.62 | 1.65 | 1.65 | 1.68 | 1.62 | 1.68 | 1.88 |
| Obligations | 1.07 | 0.69 | 0.62 | 1.75 | 0.56 | 0.56 | 0.56 | 0.81 | 0.81 | 0.79 | 0.72 | 0.78 |
| Monétaire | -1.90 | 0.62 | 0.24 | -0.40 | 2.01 | 4.56 | 13.32 | -0.65 | 21.30 | 7.78 | 17.19 | 25.26 |

31/03/2021
30/04/2021
31/05/2021
30/06/2021
30/07/2021
31/08/2021
30/09/2021
29/10/2021
30/11/2021
31/12/2021
31/01/2022
28/02/2022
Pour l'Evolution de la composition, l'exposition des produits de type dérivés actions est incluse dans la partie actions. La contrepartie de cette exposition est incluse dans la partie monétaire et permet d'obtenir une exposition totale à 100%.

## Exposition par devise (%)
70
60
50
40
30
20
10
0	EUR	USD	GBP	HKD	SEK	CNH	Autres
Portefeuille	60.94	14.23	11.59	7.18	2.91	1.80	1.35
Source(s) : AXA Investment Managers - GICS au 28/02/2022
Pour obtenir de plus amples informations sur AXA IM, rendez-vous sur axa-im.com
Actions : 72% du portefeuille global

## Exposition sectorielle (%)

## Exposition Actions par zone géographique (%)
|  | Portefeuille |  |  | Portefeuille |
| --- | --- | --- | --- | --- |
| Technologie | 24.40 |  | Pays membres de la zone EEE | 23.49 |
| Conso. cycl. | 15.78 |  | Amérique du Nord | 20.64 |
| Finance | 15.61 |  | Autres | 11.93 |
| Conso. Base | 15.61 |  | Marchés émergents | 10.43 |
| Industrie | 13.16 |  | Japon | 5.19 |
| Santé | 6.10 |  | Asie ex Japon | 0.56 |
| Services de Communication | 5.67 |  |
| Matériaux | 3.47 |
| Immobilier | 0.56 |
| Energie | 0.36 |
| Serv. aux collect. | -0.73 |

Ventilation par capitalisation boursière (EUR - %)
40
36
32
28
24
20
16
12
8
4
0	De 0 à
250 mns
De 250 à
500 mns
De 500 mns
à 1 md
De 1 à
3 mds
De 3 à
5 mds
De 5 à
10 mds
De 10 à
25 mds
De 25 à
100 mds
De 100 à
250 mds
Plus de 250 mds
Port.	0.13	0.01	0.55	2.88	5.08	9.01	12.76	34.59	7.37	12.02
Source(s) : AXA Investment Managers - GICS au 28/02/2022
Pour obtenir de plus amples informations sur AXA IM, rendez-vous sur axa-im.com
| 10 principaux titres |  |
| --- | --- |
| Action | Pondération (%) | Secteur	Pays émetteur | Devise |
| Diageo PLC | 3.61 | Conso. Base	Autres | GBP |
| Keyence Corp | 2.05 | Technologie	Japon | JPY |
| Prysmian SpA | 1.90 | Industrie	Pays membres de la zone EEE | EUR |
| Inner Mongolia Yili Industrial Group Co Ltd | 1.80 | Conso. Base	Marchés émergents | CNH |
| Nestle SA | 1.72 | Conso. Base	Pays membres de la zone EEE | CHF |
| Rio Tinto PLC | 1.65 | Matériaux	Autres | GBP |
| Moody's Corp | 1.52 | Finance	Amérique du Nord | USD |
| MSCI Inc | 1.45 | Finance	Amérique du Nord | USD |
| MasterCard Inc | 1.44 | Technologie	Amérique du Nord | USD |
| Cie Financiere Richemont SA | 1.42 | Conso. cycl.	Pays membres de la zone EEE | CHF |
| Total (%) | 18.54 |  |  |
| Obligations : 1% du portefeuille Caractéristiques du portefeuille | global |  |  |
|  | Portefeuille |  | Portefeuille |
| Nombre de lignes | 2 | Mod. Duration | 1.87 |
| Nombre d'émetteurs | 2 | Yield to worst (%) | 5.16 |
| Rating moyen linéaire | A |  |  |
| 10 principaux titres |  |  |  |
| Libellé | Pondération (%) | Pays émetteur	Sensibilité | Contribution |
| France Treasury Bill BTF 04/06/2022 | 0.20 | Pays membres de la zone EEE	0.1 | 0.00 |
| Frontline Re Ltd VAR 07/06/2022 | 0.03 | Autres	0.1 | 0.00 |
| Tailwind RE Ltd VAR 01/08/2025 | 0.03 | Autres	0.1 | 0.00 |
| Residential Reinsurance 2018 Ltd VAR 06/06/2022 | 0.02 | Autres	0.0 | 0.00 |
| FloodSmart Re Ltd VAR 03/01/2024 | 0.02 | Autres	0.0 | 0.00 |
| Nakama Re Pte Ltd VAR 10/13/2026 | 0.02 | Asie ex Japon	0.1 | 0.00 |
| Sutter Re Ltd VAR 06/06/2022 | 0.02 | Autres	0.0 | 0.00 |
| Alamo Re Ltd VAR 06/07/2024 | 0.02 | Autres	0.0 | 0.00 |
| Colombia (Republic of) 3.875% 03/22/2026 | 0.02 | Marchés émergents	3.4 | 0.00 |
| Merna Reinsurance II Ltd VAR 07/08/2024 | 0.02 | Autres	0.1 | 0.00 |
| Total (%) | 0.38 |  |  |

Source(s) : AXA Investment Managers - GICS au 28/02/2022
Pour obtenir de plus amples informations sur AXA IM, rendez-vous sur axa-im.com

## Exposition par maturité (%)
0.6
0.4
0.2
0.0
0-1 an	1-3 ans	3-5 ans	5-7 ans	7-10 ans	10-20 ans	+ 20 ans
Portefeuille	0.43	0.53	0.31	0.16	0.16	0.03	0.01

## Exposition par rating (%)
1.0
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |  |  |  |  |  |  |  |  |

0.8
0.6
0.4
0.2
| 0.0 | AA | A | BBB | BB | B | CCC | NR |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 0.23 | 0.04 | 0.19 | 0.23 | 0.14 | 0.02 | 0.79 |


## Exposition par type d'instrument (%)
0.6
0.4
0.2
0.0
Hors catégorie	Industrie	Quasi & Foreign
Government
Finance	Souverain	Services aux
Collectivités
Securitized
Portefeuille	0.48	0.35	0.29	0.29	0.21	0.01	0.01
| Diversification : 2% du portefeuille global |  |
| --- | --- |
| 10 principaux titres |
| Action | Pondération (%) | Pays émetteur | Devise |
| MIRABAUD - CONVERTIBLE BONDS EUROPE | 0.97 | Autres | EUR |
| AXA IM WAVE CAT BDS M CAPUSD | 0.00 | Autres | USD |
| AXA IM WAVE CAT-MCEURH | 0.00 | Autres | EUR |
| Total (%) | 0.97 |  |  |

Source(s) : AXA Investment Managers - GICS au 28/02/2022
Pour obtenir de plus amples informations sur AXA IM, rendez-vous sur axa-im.com