# Portfolio Analysis
## Asset Allocation (%)
0	10	20	30	40	50	60	70	80	90	100	110
| Equities | 32.14 | 31.71 | 34.63 | 33.62 | 30.70 | 30.02 | 26.62 | 32.49 | 24.84 | 34.64 | 26.35 | 18.91 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 2.77 | - | - | - | 0.68 | 0.68 | 0.70 | 0.73 | 0.75 | 0.75 | 0.78 | 0.80 |
| Bonds | 48.55 | 47.94 | 48.01 | 46.87 | 47.57 | 48.23 | 48.51 | 49.21 | 51.20 | 49.88 | 49.89 | 53.44 |
| Monetary | 16.54 | 20.35 | 17.37 | 19.51 | 21.05 | 21.07 | 24.16 | 17.57 | 23.21 | 14.72 | 22.98 | 26.85 |

31/03/2021
30/04/2021
28/05/2021
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 (%)
100
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |

80
60
40
20
| 0 | EUR | USD | GBP | HKD | SEK | CHF | Other |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 80.41 | 8.58 | 3.61 | 3.51 | 1.68 | 0.71 | 1.51 |

Source(s): AXA Investment Managers - GICS as at 28/02/2022
For more information about AXA IM, visit axa-im.com
| Equity : 19% of the overall Portfolio |  |
| --- | --- |
| Sector Breakdown (%) |  |  | Securities Exposure by geographical area (%) |  |
|  | Portfolio |  |  | Portfolio |
| Cons. disc. | 23.80 |  | European Economic Area | 6.64 |
| Financials | 19.16 |  | Emerging Markets | 3.82 |
| Industrials | 18.85 |  | Others | 3.54 |
| IT | 18.61 |  | North America | 2.66 |
| Cons. stap. | 18.25 |  | Japan | 2.01 |
| Communication Services | 3.33 |  | Asia ex Japan | 0.25 |
| Health Care | 2.52 |  |
| Materials | 0.85 |
| Real estate | -0.94 |
| Energy | -1.43 |
| Utilities | -2.98 |
| MarketCap Breakdown (EUR - %) |  |

16
14
12
10
8
6
4
2
0	0 To
250mn
250mn To 500mn
500mn To 1bn
1bn To 3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Port.	0.15	0.01	0.07	1.53	2.45	3.09	4.89	13.40	2.27	4.80
Fixed Income : 53% of the overall portfolio

## Fund Key Metrics
Portfolio
Number of Holdings	250
Number of Issuers	156
Linear Average Rating	BBB+
Portfolio
Mod. Duration	2.45
Yield To Worst (%)	1.53
Source(s): AXA Investment Managers - GICS as at 28/02/2022
For more information about AXA IM, visit axa-im.com
| Top 10 Holdings |  |
| --- | --- |
| Name | Weighting (%) | Issuer country | Modified duration | Contribution |
| FRENCH DISCOUNT T-BILL 0.000% 27/04/2022 | 3.00 | European Economic Area | 0.2 | 0.00 |
| France Treasury Bill BTF 04/21/2022 | 3.00 | European Economic Area | 0.1 | 0.00 |
| Schneider Electric SE 0.25% 09/09/2024 | 0.53 | European Economic Area | 2.3 | 0.00 |
| BNP Paribas SA 1.125% 11/22/2023 | 0.51 | European Economic Area | 1.7 | 0.00 |
| Societe Generale SA 1% 04/01/2022 | 0.40 | European Economic Area | 0.1 | 0.00 |
| LVMH Moet Hennessy Louis Vuitton 02/11/2024 | 0.40 | European Economic Area | 1.8 | 0.00 |
| ABN AMRO Bank NV 7.125% 07/06/2022 | 0.39 | European Economic Area | 0.3 | 0.00 |
| Belfius Bank SA/NV 0.75% 09/12/2022 | 0.37 | European Economic Area | 0.5 | 0.00 |
| Adler Real Estate AG 1.5% 04/17/2022 | 0.37 | European Economic Area | 0.0 | 0.00 |
| Merck Financial Services GmbH 0.005% 12/15/2023 | 0.37 | European Economic Area | 1.5 | 0.00 |
| Total (%) | 9.34 |  |  |  |
| Maturity Breakdown (%) |  |  |  |  |

20
16
12
8
4
0	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	11.60	18.30	15.01	6.85	1.19	0.09	0.82

## Rating Breakdown (%)
30
20
10
0	AA	A	BBB	BB	B	CCC	NR
Portfolio	6.62	10.23	25.66	6.24	3.97	0.36	0.75
Source(s): AXA Investment Managers - GICS as at 28/02/2022
For more information about AXA IM, visit axa-im.com

## Instrument Type Breakdown (%)
25
20
15
10
5
0	Industrials	Financial	Sovereign	Utility	Not Classified	Quasi & Foreign
Government
Securitized
Portfolio	23.53	19.07	6.21	4.16	0.45	0.41	0.01
| Diversification : 1% of the overall portfolio |  |
| --- | --- |
| Top 10 Holdings |
| Equity | Weighting (%) | Issuer country | Currency |
| AXA IM WAVE CAT BDS M CAPUSD | 0.00 | Others | USD |
| AXA IM WAVE CAT-MCEURH | 0.00 | Others | EUR |
| Total (%) | 0.00 |  |  |

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 (%)
0	10	20	30	40	50	60	70	80	90	100	110
| Actions | 32.14 | 31.71 | 34.63 | 33.62 | 30.70 | 30.02 | 26.62 | 32.49 | 24.84 | 34.64 | 26.35 | 18.91 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 3.41 | 0.64 | 0.64 | 0.67 | 0.68 | 0.68 | 0.70 | 0.73 | 0.75 | 0.75 | 0.78 | 0.80 |
| Obligations | 47.90 | 47.30 | 47.36 | 46.20 | 47.57 | 48.23 | 48.51 | 49.21 | 51.20 | 49.88 | 49.89 | 53.44 |
| Monétaire | 16.54 | 20.35 | 17.37 | 19.51 | 21.05 | 21.07 | 24.16 | 17.57 | 23.21 | 14.72 | 22.98 | 26.85 |

31/03/2021
30/04/2021
28/05/2021
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 (%)
100
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |

80
60
40
20
| 0 | EUR | USD | GBP | HKD | SEK | CHF | Autres |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 80.41 | 8.58 | 3.61 | 3.51 | 1.68 | 0.71 | 1.51 |

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 : 19% du portefeuille global

## Exposition sectorielle (%)

## Exposition Actions par zone géographique (%)
|  | Portefeuille |  |  | Portefeuille |
| --- | --- | --- | --- | --- |
| Conso. cycl. | 23.80 |  | Pays membres de la zone EEE | 6.64 |
| Finance | 19.16 |  | Marchés émergents | 3.82 |
| Industrie | 18.85 |  | Autres | 3.54 |
| Technologie | 18.61 |  | Amérique du Nord | 2.66 |
| Conso. Base | 18.25 |  | Japon | 2.01 |
| Services de Communication | 3.33 |  | Asie ex Japon | 0.25 |
| Santé | 2.52 |  |
| Matériaux | 0.85 |
| Immobilier | -0.94 |
| Energie | -1.43 |
| Serv. aux collect. | -2.98 |

Ventilation par capitalisation boursière (EUR - %)
16
14
12
10
8
6
4
2
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.	0.15	0.01	0.07	1.53	2.45	3.09	4.89	13.40	2.27	4.80
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 |
| Nestle SA | 1.36 | Conso. Base | Pays membres de la zone EEE | CHF |
| STELLANTIS NV | 1.03 | Conso. cycl. | Pays membres de la zone EEE | EUR |
| Diageo PLC | 0.96 | Conso. Base | Autres | GBP |
| Prysmian SpA | 0.87 | Industrie | Pays membres de la zone EEE | EUR |
| Keyence Corp | 0.84 | Technologie | Japon | JPY |
| Rio Tinto PLC | 0.84 | Matériaux | Autres | GBP |
| Volvo AB | 0.78 | Industrie | Pays membres de la zone EEE | SEK |
| Moody's Corp | 0.72 | Finance | Amérique du Nord | USD |
| Tencent Holdings Ltd | 0.72 | Services de Communication | Marchés émergents | HKD |
| L'Occitane Ltd | 0.68 | Conso. Base | Pays membres de la zone EEE | HKD |
| Total (%) | 8.81 |  |  |  |

Obligations : 53% du portefeuille global
| Caractéristiques du portefeuille |  |
| --- | --- |
|  | Portefeuille |  |  |  | Portefeuille |
| Nombre de lignes | 250 |  | Mod. Duration |  | 2.45 |
| Nombre d'émetteurs | 156 |  | Yield to worst (%) |  | 1.53 |
| Rating moyen linéaire | BBB+ |  |  |  |  |
| 10 principaux titres |  |  |  |  |  |
| Libellé | Pondération (%) |  | Pays émetteur | Sensibilité | Contribution |
| FRENCH DISCOUNT T-BILL 0.000% 27/04/2022 | 3.00 |  | Pays membres de la zone EEE | 0.2 | 0.00 |
| France Treasury Bill BTF 04/21/2022 | 3.00 |  | Pays membres de la zone EEE | 0.1 | 0.00 |
| Schneider Electric SE 0.25% 09/09/2024 | 0.53 |  | Pays membres de la zone EEE | 2.3 | 0.00 |
| BNP Paribas SA 1.125% 11/22/2023 | 0.51 |  | Pays membres de la zone EEE | 1.7 | 0.00 |
| Societe Generale SA 1% 04/01/2022 | 0.40 |  | Pays membres de la zone EEE | 0.1 | 0.00 |
| LVMH Moet Hennessy Louis Vuitton 02/11/2024 | 0.40 |  | Pays membres de la zone EEE | 1.8 | 0.00 |
| ABN AMRO Bank NV 7.125% 07/06/2022 | 0.39 |  | Pays membres de la zone EEE | 0.3 | 0.00 |
| Belfius Bank SA/NV 0.75% 09/12/2022 | 0.37 |  | Pays membres de la zone EEE | 0.5 | 0.00 |
| Adler Real Estate AG 1.5% 04/17/2022 | 0.37 |  | Pays membres de la zone EEE | 0.0 | 0.00 |
| Merck Financial Services GmbH 0.005% 12/15/2023 | 0.37 |  | Pays membres de la zone EEE | 1.5 | 0.00 |
| Total (%) | 9.34 |  |  |  |  |

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 (%)
20
16
12
8
4
0	0-1 an	1-3 ans	3-5 ans	5-7 ans	7-10 ans	10-20 ans	+ 20 ans
Portefeuille	11.60	18.30	15.01	6.85	1.19	0.09	0.82

## Exposition par rating (%)
30
20
10
0	AA	A	BBB	BB	B	CCC	NR
Portefeuille	6.62	10.23	25.66	6.24	3.97	0.36	0.75

## Exposition par type d'instrument (%)
25
20
15
10
5
0	Industrie	Finance	Souverain	Services aux Collectivités
Hors catégorie	Quasi & Foreign
Government
Securitized
Portefeuille	23.53	19.07	6.21	4.16	0.45	0.41	0.01
| Diversification : 1% du portefeuille global |  |
| --- | --- |
| 10 principaux titres |
| Action | Pondération (%) | Pays émetteur | Devise |
| AXA IM WAVE CAT BDS M CAPUSD | 0.00 | Autres | USD |
| AXA IM WAVE CAT-MCEURH | 0.00 | Autres | EUR |
| Total (%) | 0.00 |  |  |

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