# HOLDINGS: % OF PORTFOLIO
Main Holdings (%)
by Country (%)
Against Benchmark
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 11.85 |
| --- | --- |
| BNPP FLX I ABS ERP IG X C | 7.21 |
| EUROPEAN FINANCIAL STABILITY FACILITY 0.00 | 5.24 |
| EUROPEAN UNION 0.00 PCT 02-JUN-2028 | 3.31 |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 2.16 |
| PETROLEOS MEXICANOS 1.88 PCT 21-APR-2022 | 2.05 |
| FRANCE (REPUBLIC OF) 0.00 PCT 25-MAR-2025 | 1.72 |
| FRANCE (REPUBLIC OF) 1.75 PCT 25-JUN-2039 | 1.70 |
| ITALY (REPUBLIC OF) 9.00 PCT 01-NOV-2023 | 1.51 |
| ITALY (REPUBLIC OF) 1.65 PCT 01-MAR-2032 | 1.41 |
| No. of Holdings in Portfolio | 429 |

| Germany | 20.93 | + 2.01 |
| --- | --- | --- |
| France | 11.33 | - 10.79 |
| Supranational | 10.69 | + 5.08 |
| Italy | 9.05 | - 4.90 |
| Eurolands | 7.21 | + 7.21 |
| Spain | 7.12 | - 3.03 |
| United States | 6.28 | + 2.55 |
| Netherlands | 5.00 | - 0.03 |
| Belgium | 3.68 | - 0.18 |
| China | 2.99 | + 2.76 |
| Derivatives | 0.07 | + 0.07 |
| Forex contracts | -0.23 | - 0.23 |
| Other | 14.33 | - 2.05 |
| Cash | 1.53 | + 1.53 |
| Total | 100.00 |  |

by Rating (%)
by Currency (%)
Against Benchmark
| AAA | 27.80 |
| --- | --- |
| AA+ | 2.37 |
| AA | 12.77 |
| AA- | 3.97 |
| A- | 8.72 |
| BBB+ | 5.48 |
| BBB | 15.78 |
| BBB- | 4.75 |
| BB- | 2.57 |
| Other | 7.25 |
| Not rated | 7.17 |
| Derivatives | 0.07 |
| Forex contracts | -0.23 |
| Cash | 1.53 |
| Total | 100.00 |

| PLN | - | + 0.00 |
| --- | --- | --- |
| THB | - | + 0.00 |
| MXN | - | + 0.00 |
| EUR | 98.65 | - 1.35 |
| CAD | 0.99 | + 0.99 |
| AUD | 0.97 | + 0.97 |
| INR | 0.52 | + 0.52 |
| USD | 0.40 | + 0.40 |
| SEK | 0.03 | + 0.03 |
| CHF | 0.02 | + 0.02 |
| Other | -1.58 | - 1.58 |
| Total | 100.00 |  |

Source of data: BNP Paribas Asset Management, as at 31.12.2021
Sources: Fitch, Moody’s, S&P. Ratings lower than BBB- refer to high-yield or speculative-grade bonds.
The above mentioned securities are for illustrative purpose only and do not constitute any investment recommendation.

Translation (ENFR, 2021-12-31):
# POSITIONS : % DU PORTEFEUILLE
Principales positions
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 11,85 |
| --- | --- |
| BNPP FLX I ABS ERP IG X C | 7,21 |
| EUROPEAN FINANCIAL STABILITY FACILITY 0.00 | 5,24 |
| EUROPEAN UNION 0.00 PCT 02-JUN-2028 | 3,31 |
| GERMANY (FEDERAL REPUBLIC OF) 0.00 PCT | 2,16 |
| PETROLEOS MEXICANOS 1.88 PCT 21-APR-2022 | 2,05 |
| FRANCE (REPUBLIC OF) 0.00 PCT 25-MAR-2025 | 1,72 |
| FRANCE (REPUBLIC OF) 1.75 PCT 25-JUN-2039 | 1,70 |
| ITALY (REPUBLIC OF) 9.00 PCT 01-NOV-2023 | 1,51 |
| ITALY (REPUBLIC OF) 1.65 PCT 01-MAR-2032 | 1,41 |
| Nb de positions dans le portefeuille | 429 |

par Notation
par Pays	Contre l'Indice
| Allemagne | 20,93 | + 2,01 |
| --- | --- | --- |
| France | 11,33 | - 10,79 |
| Supranational | 10,69 | + 5,08 |
| Italie | 9,05 | - 4,90 |
| Zone Euro | 7,21 | + 7,21 |
| Espagne | 7,12 | - 3,03 |
| États-Unis | 6,28 | + 2,55 |
| Pays-Bas | 5,00 | - 0,03 |
| Belgique | 3,68 | - 0,18 |
| Chine | 2,99 | + 2,76 |
| Produits dérivés | 0,07 | + 0,07 |
| Contrats de change | -0,23 | - 0,23 |
| Autres | 14,33 | - 2,05 |
| Liquidités | 1,53 | + 1,53 |
| Total | 100,00 |  |

par Devise	Contre l'Indice
| AAA | 27,80 |
| --- | --- |
| AA+ | 2,37 |
| AA | 12,77 |
| AA- | 3,97 |
| A- | 8,72 |
| BBB+ | 5,48 |
| BBB | 15,78 |
| BBB- | 4,75 |
| BB- | 2,57 |
| Autres | 7,25 |
| Non noté | 7,17 |
| Produits dérivés | 0,07 |
| Contrats de change | -0,23 |
| Liquidités | 1,53 |
| Total | 100,00 |

| PLN | - | + 0,00 |
| --- | --- | --- |
| THB | - | + 0,00 |
| MXN | - | + 0,00 |
| EUR | 98,65 | - 1,35 |
| CAD | 0,99 | + 0,99 |
| AUD | 0,97 | + 0,97 |
| INR | 0,52 | + 0,52 |
| USD | 0,40 | + 0,40 |
| SEK | 0,03 | + 0,03 |
| CHF | 0,02 | + 0,02 |
| Autres | -1,58 | - 1,58 |
| Total | 100,00 |  |

Source : BNP Paribas Asset Management, en date du 31.12.2021
Sources : Fitch, Moody's, S&P. Les notations < BBB- correspondent à la catégorie de titres à haut rendement ou titres spéculatifs
Les titres ci-dessus sont mentionnés à titre d’information uniquement et ne doivent pas être considérés comme une recommandation d’investissement.