# Sector allocation
### % of assets *	% of assets (Index)

### CDS - Broad Market	-5.37%	-

### Government related	0.63%	0.47%

### Local authorities	-	0.00%

### Agencies	0.63%	0.46%

### Utilities	3.68%	6.49%

### Utilities	3.68%	6.49%

### Financials	43.30%	36.22%

### Insurers	7.01%	5.29%

### Real estate	8.84%	5.88%

### Banks & building societies	27.46%	25.06%

### Industrials	36.88%	55.52%

### Tobacco	-	1.07%

### Basic materials	1.63%	1.34%

### Chemicals	0.81%	1.62%

### Media	3.06%	2.71%

### Transportation	0.36%	3.05%

### Automobiles	6.65%	3.53%
| Consumer staples | 1.94% | 4.19% |
| --- | --- | --- |
| Pharmaceuticals & biotechnology | 2.41% | 4.27% |
| Capital goods | 1.29% | 4.47% |
| Consumer non-cyclical | 2.18% | 7.82% |
| Energy | 7.31% | 8.82% |


### Telecom. & technology	9.23%	12.62%

### * Includes Credit Default Swaps

## % of assets **
| CDS - High Yield | -5.37% | - |
| --- | --- | --- |
| Treasuries | 2.88% | - |
| Treasuries | 2.88% | - |

Financials Industrials Utilities Treasuries
Government related CDS - Broad Market
Others
-10 %	0 %	10 %	20 %	30 %	40 %  50 %

### Portfolio

### ** Includes Credit Default Swaps

## Spread Modified Duration **
Financials
Industrials
Utilities
Treasuries
Government related
CDS - Broad Market
Others
-1	0	1	2	3	4	5
| Top 15 issuers |  |  | ** Includes Credit Default Swaps | Portfolio |
| --- | --- | --- | --- | --- |
|  | Sector | % asset * |  |  |
| Bank of America Corp | Financials | 3.37% |  |  |
| United States of America | Treasuries | 2.88% |  |  |
| VERIZON COMMUNICATIONS INC | Industrials | 2.47% |  |  |
| Volkswagen Intl Fin NV | Industrials | 2.34% |  |  |
| NATWEST GROUP PLC | Financials | 2.24% |  |  |
| AT&T Inc | Industrials | 2.23% |  |  |
| Unicredit SPA | Financials | 1.97% |  |  |
| JPMORGAN CHASE & CO | Financials | 1.97% |  |  |
| T-MOBILE USA INC | Industrials | 1.66% |  |  |
| Anheuser-Busch Inbev Wrdwd Inc | Industrials | 1.55% |  |  |
| SIMON PROPERTY GROUP LP | Financials | 1.54% |  |  |
| Intesa SanPaolo Spa | Financials | 1.34% |  |  |
| CHARTER COMM OPT LLC/CAP | Industrials | 1.30% |  |  |
| ABBVIE INC | Industrials | 1.29% |  |  |
| General Motors Financial CO IN | Industrials | 1.28% |  |  |
| * Includes Credit Default Swaps |  |  |  |  |

Translation (ENFR, 2021-06-30):
# Allocation sectorielle
% d'actif *	% d'actifs (indice)
CDS - Broad Market	-5,37%	-
Collectivités locales	-	0,00%
Agences	0,63%	0,46%
Services publics	3,68%	6,49%
Services publics	3,68%	6,49%
Finance	43,30%	36,22%
Assurance	7,01%	5,29%
Immobilier	8,84%	5,88%
Epargne et prêts hypothécaires	27,46%	25,06%
Industrie	36,88%	55,52%
Tabac	-	1,07%
Matériaux de base	1,63%	1,34%
Chimie	0,81%	1,62%
Médias	3,06%	2,71%
Transports	0,36%	3,05%
Automobile	6,65%	3,53%
| Consommation cyclique | 1,94% | 4,19% |
| --- | --- | --- |
| Produits pharma. et biotech. | 2,41% | 4,27% |
| Biens d'équipement | 1,29% | 4,47% |
| Consommation non-cyclique | 2,18% | 7,82% |
| Énergie | 7,31% | 8,82% |

Télécom. et technologie	9,23%	12,62%
* Dérivés de credit inclus

## En pourcentage d'actif **
| CDS - High Yield | -5,37% | - |
| --- | --- | --- |
| Emprunts d'Etats | 2,88% | - |
| Emprunts d'Etats | 2,88% | - |
| Quasi-Etats | 0,63% | 0,47% |

Finance Industrie Services publics Emprunts d'Etats
Quasi-Etats CDS - Broad Market
Autres
-10 %	0 %	10 %	20 %	30 %	40 %  50 %
Portefeuille
** Dérivés de credit inclus

## Spread Modified Duration **
Finance
Industrie
Services publics
Emprunts d'Etats
Quasi-Etats
CDS - Broad Market
Autres
-1	0	1	2	3	4	5
| Top 15 émetteurs |  |  | ** Dérivés de credit inclus | Portefeuille |
| --- | --- | --- | --- | --- |
|  | Secteur | % d'actif * |  |  |
| Bank of America Corp | Finance | 3,37% |  |  |
| Etats-Unis | Emprunts d'Etats | 2,88% |  |  |
| VERIZON COMMUNICATIONS INC | Industrie | 2,47% |  |  |
| Volkswagen Intl Fin NV | Industrie | 2,34% |  |  |
| NATWEST GROUP PLC | Finance | 2,24% |  |  |
| AT&T Inc | Industrie | 2,23% |  |  |
| Unicredit SPA | Finance | 1,97% |  |  |
| JPMORGAN CHASE & CO | Finance | 1,97% |  |  |
| T-MOBILE USA INC | Industrie | 1,66% |  |  |
| Anheuser-Busch Inbev Wrdwd Inc | Industrie | 1,55% |  |  |
| SIMON PROPERTY GROUP LP | Finance | 1,54% |  |  |
| Intesa SanPaolo Spa | Finance | 1,34% |  |  |
| CHARTER COMM OPT LLC/CAP | Industrie | 1,30% |  |  |
| ABBVIE INC | Industrie | 1,29% |  |  |
| GENERAL MOTORS FINANCIAL CO IN | Industrie | 1,28% |  |  |
| * Dérivés de credit inclus |  |  |  |  |