# Main issuers (Source: Amundi)
| Sector | % asset | Mod. duration | SWMD Portfolio | SWMD Benchmark |
| --- | --- | --- | --- | --- |
| Sovereigns	- | - | - | - | - |
| GERMANY | Sovereign EMU | 6.54% | 0.17 | 0.00% | - |
| FRANCE | Sovereign EMU | 2.30% | 0.42 | 0.32% | - |
| ITALIAN REPUBLIC | Sovereign EMU | 2.07% | 0.15 | 0.35% | - |
| NETHERLANDS | Sovereign EMU | 2.02% | 0.32 | 0.08% | - |
| BELGIUM | Sovereign EMU | 1.35% | 0.15 | 0.11% | - |
| IRELAND (REPUBLIC OF ) | Sovereign EMU | 1.19% | 0.09 | 0.04% | - |
| UNITED KINGDOM | Sovereign ex-EMU | 1.19% | 0.32 | 0.00% | - |
| CHILE | Sovereign ex-EMU | 1.01% | 0.09 | 0.13% | - |
| SPAIN (KINGDOM OF ) | Sovereign EMU | 0.90% | 0.15 | 0.20% | - |
| HONG KONG | Sovereign ex-EMU | 0.78% | 0.03 | 0.04% | - |
| AUSTRIA (REPUBLIC OF) | Sovereign EMU | 0.41% | 0.08 | 0.05% | - |
| KOREA (REPUBLIC OF ) | Sovereign ex-EMU | 0.32% | 0.01 | 0.01% | - |
| NEW ZEALAND | Sovereign ex-EMU | 0.24% | 0.02 | 0.00% | - |
| SWEDEN | Sovereign ex-EMU | 0.22% | 0.02 | 0.00% | - |
| HUNGARY (REPUBLIC OF) | Sovereign ex-EMU | 0.19% | 0.02 | 0.06% | - |
| Non Sovereigns | - | - | - | - | - |
| EUROPEAN UNION | Agencies & Supranationals | 4.34% | 0.65 | 0.52% | - |
| EUROPEAN INVESTMENT BANK | Agencies & Supranationals | 3.44% | 0.33 | 0.20% | - |
| KFW-KDT F WDERAUFBAU | Agencies & Supranationals | 3.09% | 0.20 | 0.10% | - |
| ELECTRICITE DE FRANCE SA | Industry | 2.21% | 0.16 | 0.35% | - |
| ASIAN DEVELOPMENT BANK | Agencies & Supranationals | 2.02% | 0.08 | 0.03% | - |
| ENGIE SA | Industry | 1.84% | 0.05 | 0.08% | - |
| ING GROEP NV | Financials | 1.74% | 0.06 | 0.13% | - |
| AIB GROUP PLC | Financials | 1.54% | 0.05 | 0.15% | - |
| BNP PARIBAS SA | Financials | 1.54% | 0.06 | 0.10% | - |
| ADIF ALTA VELOCIDAD | Industry | 1.51% | 0.06 | 0.06% | - |
| SNCF RESEAU | Agencies & Supranationals | 1.47% | 0.17 | 0.20% | - |
| UNICAJA (M PIE ROND) | Financials | 1.35% | 0.03 | 0.12% | - |
| ORSTED AS | Industry | 1.25% | 0.04 | 0.09% | - |
| CAIXABANK SA | Financials | 1.23% | 0.06 | 0.16% | - |
| BIRD - IBRD | Agencies & Supranationals | 1.20% | 0.04 | 0.01% | - |

Historical risk indicators (Source: Amundi)

## Modified duration (Source: Amundi)
8

## Spread Weighted Modified Duration (SWMD) (%, source: Amundi)
11
7.5	10
9
7
8
6.5	7
01/2022
02/2022
03/2022
04/2022
05/2022
06/2022
07/2022
08/2022
09/2022
10/2022
11/2022
12/2022
01/2022
02/2022
03/2022
04/2022
05/2022
06/2022
07/2022
08/2022
09/2022
10/2022
11/2022
12/2022
6	6

### Portfolio	Portfolio

Translation (ENFR, 2022-12-31):
# Les principaux émetteurs (Source : Amundi)
|  | Secteur | % d'actif | Sensibilité | SPS Portefeuille | SPS Indice |
| --- | --- | --- | --- | --- | --- |
| Emetteurs Etats | - | - | - | - | - |
| GERMANY | Etats Zone Euro | 6,54% | 0,17 | 0,00% | - |
| FRANCE | Etats Zone Euro | 2,30% | 0,42 | 0,32% | - |
| ITALIAN REPUBLIC | Etats Zone Euro | 2,07% | 0,15 | 0,35% | - |
| NETHERLANDS | Etats Zone Euro | 2,02% | 0,32 | 0,08% | - |
| BELGIUM | Etats Zone Euro | 1,35% | 0,15 | 0,11% | - |
| IRELAND (REPUBLIC OF ) | Etats Zone Euro | 1,19% | 0,09 | 0,04% | - |
| UNITED KINGDOM | Etats hors Zone Euro | 1,19% | 0,32 | 0,00% | - |
| CHILE | Etats hors Zone Euro | 1,01% | 0,09 | 0,13% | - |
| SPAIN (KINGDOM OF ) | Etats Zone Euro | 0,90% | 0,15 | 0,20% | - |
| HONG KONG | Etats hors Zone Euro | 0,78% | 0,03 | 0,04% | - |
| AUSTRIA (REPUBLIC OF) | Etats Zone Euro | 0,41% | 0,08 | 0,05% | - |
| KOREA (REPUBLIC OF ) | Etats hors Zone Euro | 0,32% | 0,01 | 0,01% | - |
| NEW ZEALAND | Etats hors Zone Euro | 0,24% | 0,02 | 0,00% | - |
| SWEDEN | Etats hors Zone Euro | 0,22% | 0,02 | 0,00% | - |
| HUNGARY (REPUBLIC OF) | Etats hors Zone Euro | 0,19% | 0,02 | 0,06% | - |
| Emetteurs hors Etats | - | - | - | - | - |
| EUROPEAN UNION | Quasi-Etat | 4,34% | 0,65 | 0,52% | - |
| EUROPEAN INVESTMENT BANK | Quasi-Etat | 3,44% | 0,33 | 0,20% | - |
| KFW-KDT F WDERAUFBAU | Quasi-Etat | 3,09% | 0,20 | 0,10% | - |
| ELECTRICITE DE FRANCE SA | Industrie | 2,21% | 0,16 | 0,35% | - |
| ASIAN DEVELOPMENT BANK | Quasi-Etat | 2,02% | 0,08 | 0,03% | - |
| ENGIE SA | Industrie | 1,84% | 0,05 | 0,08% | - |
| ING GROEP NV | Finance | 1,74% | 0,06 | 0,13% | - |
| AIB GROUP PLC | Finance | 1,54% | 0,05 | 0,15% | - |
| BNP PARIBAS SA | Finance | 1,54% | 0,06 | 0,10% | - |
| ADIF ALTA VELOCIDAD | Industrie | 1,51% | 0,06 | 0,06% | - |
| SNCF RESEAU | Quasi-Etat | 1,47% | 0,17 | 0,20% | - |
| UNICAJA (M PIE ROND) | Finance | 1,35% | 0,03 | 0,12% | - |
| ORSTED AS | Industrie | 1,25% | 0,04 | 0,09% | - |
| CAIXABANK SA | Finance | 1,23% | 0,06 | 0,16% | - |
| BIRD - IBRD | Quasi-Etat | 1,20% | 0,04 | 0,01% | - |
| Indicateurs de risque historique (Source : Amundi) |  |  |  |  |  |


## En sensibilité (Source : Amundi)
8

## SPS (%, source : Amundi)
11
7,5	10
9
7
8
6,5	7
01/2022
02/2022
03/2022
04/2022
05/2022
06/2022
07/2022
08/2022
09/2022
10/2022
11/2022
12/2022
01/2022
02/2022
03/2022
04/2022
05/2022
06/2022
07/2022
08/2022
09/2022
10/2022
11/2022
12/2022
6	6

### Portefeuille	Portefeuille