# Performance & Risk
## Performance Evolution (EUR)
Current NAV
Acc.

### 116.72
Assets Under Management (M)
GBP

### 336.77

## Benchmark
Since: 02/03/2016
100% FTSE All Share Total Return Gross
The Fund is actively managed with deviation expected in term of constitution and performance compared to benchmark that is likely to be significant.

## Fund Key Metrics
Port.	Bench.
Number of Holdings	59	577
Turnover: Rolling 1Y (%)	17	-
Active Share (%)	68	-

## Fund Profile
ESG Rating
ESG Relative Rating
29/11/19
30/05/20
30/11/20
30/05/21
30/11/21
30/05/22 30/11/22
CO2 Relative rating
Portfolio* (-5.90%)	Benchmark (10.64%)
Data is rebased to 100 by AXA IM on the graph start date.
Performance calculations are net of fees, based on the reinvestment of dividends. The benchmark, when there is one could be calculated on the basis of net or gross dividend. Please refer to the prospectus for more information.
% of AUM covered by ESG absolute rating: Portfolio = 89.9% Benchmark = 93.0% (not meaningful for coverage below 50%)
| Risk Analysis |  |  |  |  | % of AUM covered by CO2 intensity indicator: Portfolio = 55.2% Benchmark = 62.1% (not meaningful for |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  | coverage below 50%) |
|  | 1Y | 3Y | 5Y | Launch |  |
| Portfolio Volatility* (%) | 19.95 | 22.51 | 19.10 | 18.12 |  |
| Benchmark Volatility (%) | 17.22 | 19.41 | 16.91 | 15.37 |  |
| Relative Risk/Tracking Error  (%) | 5.94 | 8.08 | 7.09 | 7.26 |  |
| Sharpe Ratio | -0.59 | 0.00 | 0.16 | 0.24 |  |
| Information Ratio | -2.86 | -0.46 | -0.25 | -0.15 |  |

Performance & Risk 
(Continued)

## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 30/11/21 30/11/22 | 30/11/20 30/11/21 | 30/11/19 30/11/20 | 30/11/18 30/11/19 | 30/11/17 30/11/18 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 6.96 | 1.25 | -5.13 | -18.70 | -5.90 | 5.30 | -13.63 | 21.08 | -10.02 | 21.44 | -7.86 | 16.72 |
| Benchmark | 6.37 | 3.92 | -1.42 | -1.16 | 10.64 | 25.07 | 4.84 | 23.64 | -14.65 | 15.57 | -2.19 | 40.55 |
| Excess Return | 0.60 | -2.67 | -3.71 | -17.53 | -16.54 | -19.77 | -18.47 | -2.56 | 4.63 | 5.87 | -5.67 | -23.83 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 20.87 | -10.03 | 36.25 | -14.39 | 12.28 | - | - | - | - | - |
| Benchmark | 26.15 | -14.63 | 26.22 | -10.47 | 8.76 | - | - | - | - | - |
| Excess Return | -5.27 | 4.60 | 10.02 | -3.92 | 3.52 | - | - | - | - | - |

Past performance is not a reliable indicator of future results. Performance calculations are net of fees, based on the reinvestment of dividends. The benchmark, when there is one could be calculated on the basis of net or gross dividend. Please refer to the prospectus for more information.
| Portfolio Analysis |  |
| --- | --- |
| Top 10 Holdings |
| Equity |  |  | Weighting (%) | Sector | Geography |
|  | Portfolio | Benchmark | Relative |  |  |
| AstraZeneca PLC | 4.94 | 7.01 | -2.06 | Health Care | United Kingdom |
| Shell PLC | 4.10 | 7.60 | -3.49 | Energy | United Kingdom |
| Diageo PLC | 4.09 | 3.65 | 0.44 | Consumer Staples | United Kingdom |
| London Stock Exchange Group... | 3.68 | 1.28 | 2.39 | Financials | United Kingdom |
| BP PLC | 3.62 | 3.92 | -0.30 | Energy | United Kingdom |
| Reckitt Benckiser Group PLC | 3.52 | 1.81 | 1.72 | Consumer Staples | United Kingdom |
| Experian PLC | 3.38 | 1.13 | 2.24 | Industrials | United Kingdom |
| GlaxoSmithKline PLC | 3.07 | 2.39 | 0.68 | Health Care | United Kingdom |
| Rentokil Initial PLC | 2.91 | 0.58 | 2.33 | Industrials | United Kingdom |
| Weir Group PLC | 2.50 | 0.19 | 2.31 | Industrials | United Kingdom |
| Total (%) | 35.81 | 29.56 |  |  |  |

Companies shown are for illustrative purposes only at the date of this report and may no longer be in the portfolio later. It should not be considered a recommendation to purchase or sell any security.
Portfolio Analysis 
(Continued)

## Top 5 Overweight (%)

## Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| London Stock Exchange Group PLC | 3.68 | 1.28 | 2.39 |  | Unilever PLC | 0.00 | 4.47 | -4.47 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Rentokil Initial PLC | 2.91 | 0.58 | 2.33 |  | HSBC Holdings PLC | 0.00 | 4.36 | -4.36 |
| Weir Group PLC | 2.50 | 0.19 | 2.31 |  | Shell PLC | 4.10 | 7.60 | -3.49 |
| Spirent Communications PLC | 2.32 | 0.07 | 2.24 |  | British American Tobacco PLC | 0.00 | 3.23 | -3.23 |
| Experian PLC | 3.38 | 1.13 | 2.24 |  | Glencore PLC | 0.00 | 3.13 | -3.13 |
| Sector Breakdown (%) |  |  |  |  | Active Exposure by Sector (%) |  |  |  |

Portfolio	Benchmark
Industrials	24.45	10.84
Financials	16.95	21.93
Energy	10.66	11.92
Technology	10.54	1.31
Health Care	10.25	11.13
Consumer Staples	8.19	16.01
Consumer Discretionary	7.88	10.52
Real Estate	3.12	2.54
Telecommunications	2.32	1.58
Basic Materials	2.10	8.78
Utilities	0.00	3.45
Cash	3.53	0.00
-8	-6	-4	-2	0	2	4	6	8	10	12	14
MarketCap Breakdown (GBP - %)
90
80
70
60
50
40
30
20
10
0	FTSE 100	FTSE 250	FTSE SmallCap	FTSE AIM	Cash
Port.	54.14	33.75	0.96	7.61	3.53
Bench.	83.45	13.98	2.58	-	-

Translation (ENFR, 2022-11-30):
# Performance et risque
## Evolution de la performance (EUR)
Valeur liquidative
Cap.

### 116.72
Actif net du fonds (M)
GBP

### 336.77

## Indice de réference
Depuis le: 02/03/2016
100% FTSE All Share Total Return Gross
Le fonds est géré de manière active avec une déviation qui pourra être importante en termes de constitution et performance comparée à l’indice de référence.
Port.

## Caractéristiques du portefeuille
Indice de réf.
Nombre de lignes	59	577
Turnover: Glissant 1an (%)	17	-
Active Share (%)	68	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
29/11/19
30/05/20
30/11/20
30/05/21
30/11/21
30/05/22 30/11/22
Intensité relative en CO2
Portefeuille* (-5.90%)	Indice de réference (10.64%)
Les données sont rebasées à 100 par AXA IM à la date de début du graphique.
Les calculs de performances sont nets de frais et réalisés coupons réinvestis. L’indice de référence, le cas échéant, pourrait être calculé sur la base des coupons nets ou bruts. Veuillez consulter le prospectus pour obtenir plus d’informations.

## Analyse du risque
1 an	3 ans	5 ans	Création
% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 89.9% Indice de réf. = 93.0% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
% de l’encours sous gestion couvert par l’indicateur d’intensité en CO2 : Portefeuille = 55.2% Indice de réf.
| Volatilité du portefeuille* (%) | 19.95 | 22.51 | 19.10 | 18.12 | = 62.1% (n'est pas significatif lor couverture est inférieur à 50%) |
| --- | --- | --- | --- | --- | --- |
| Volatilité de l'indice de référence (%) | 17.22 | 19.41 | 16.91 | 15.37 |  |
| Risque relatif/Tracking Error  (%) | 5.94 | 8.08 | 7.09 | 7.26 |  |
| Ratio de Sharpe | -0.59 | 0.00 | 0.16 | 0.24 |  |
| Ratio d'information | -2.86 | -0.46 | -0.25 | -0.15 |  |

sque le taux de
Performance et risque 
(suite)

## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 3 ans | 5 ans | 30/11/21 30/11/22 | 30/11/20 30/11/21 | 30/11/19 30/11/20 | 30/11/18 30/11/19 | 30/11/17 30/11/18 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 6.96 | 1.25 | -5.13 | -18.70 | -5.90 | 5.30 | -13.63 | 21.08 | -10.02 | 21.44 | -7.86 | 16.72 |
| Indice de référence | 6.37 | 3.92 | -1.42 | -1.16 | 10.64 | 25.07 | 4.84 | 23.64 | -14.65 | 15.57 | -2.19 | 40.55 |
| Ecarts | 0.60 | -2.67 | -3.71 | -17.53 | -16.54 | -19.77 | -18.47 | -2.56 | 4.63 | 5.87 | -5.67 | -23.83 |

Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 20.87 | -10.03 | 36.25 | -14.39 | 12.28 | - | - | - | - | - |
| Indice de réference | 26.15 | -14.63 | 26.22 | -10.47 | 8.76 | - | - | - | - | - |
| Ecarts | -5.27 | 4.60 | 10.02 | -3.92 | 3.52 | - | - | - | - | - |

Les performances passées ne préjugent pas des résultats futurs. Les calculs de performances sont nets de frais et réalisés coupons réinvestis. L’indice de référence, le cas échéant, pourrait être calculé sur la base des coupons nets ou bruts. Veuillez consulter le prospectus pour obtenir plus d’informations.
| Analyse du portefeuille |  |
| --- | --- |
| 10 principaux titres |
| Action |  |  | Pondération (%) | Secteur | Géographie |
|  | Portefeuille | Indice de réference | Relative |  |  |
| AstraZeneca PLC | 4.94 | 7.01 | -2.06 | Santé | Royaume-Uni |
| Shell PLC | 4.10 | 7.60 | -3.49 | Énergie | Royaume-Uni |
| Diageo PLC | 4.09 | 3.65 | 0.44 | Consommation courante | Royaume-Uni |
| London Stock Exchange Group... | 3.68 | 1.28 | 2.39 | Sociétés Financières | Royaume-Uni |
| BP PLC | 3.62 | 3.92 | -0.30 | Énergie | Royaume-Uni |
| Reckitt Benckiser Group PLC | 3.52 | 1.81 | 1.72 | Consommation courante | Royaume-Uni |
| Experian PLC | 3.38 | 1.13 | 2.24 | Industries | Royaume-Uni |
| GlaxoSmithKline PLC | 3.07 | 2.39 | 0.68 | Santé | Royaume-Uni |
| Rentokil Initial PLC | 2.91 | 0.58 | 2.33 | Industries | Royaume-Uni |
| Weir Group PLC | 2.50 | 0.19 | 2.31 | Industries | Royaume-Uni |
| Total (%) | 35.81 | 29.56 |  |  |  |

Les informations sur cette société sont données à titre illustratif uniquement, sont valables à la date du reporting et ne constituent pas une recommandation à l’achat ou à la vente. Il est possible que cette entreprise ne soit plus présente en portefeuille à une date ultérieure.
Analyse du portefeuille 
(suite)

## 5 principales surpondérations (%)

## 5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| London Stock Exchange Group PLC | 3.68 | 1.28 | 2.39 |  | Unilever PLC | 0.00 | 4.47 | -4.47 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Rentokil Initial PLC | 2.91 | 0.58 | 2.33 |  | HSBC Holdings PLC | 0.00 | 4.36 | -4.36 |
| Weir Group PLC | 2.50 | 0.19 | 2.31 |  | Shell PLC | 4.10 | 7.60 | -3.49 |
| Spirent Communications PLC | 2.32 | 0.07 | 2.24 |  | British American Tobacco PLC | 0.00 | 3.23 | -3.23 |
| Experian PLC | 3.38 | 1.13 | 2.24 |  | Glencore PLC | 0.00 | 3.13 | -3.13 |
| Exposition sectorielle (%) |  |  |  |  | Exposition sectorielle active (%) |  |  |  |

Portefeuille  Indice de réference
Industries	24.45	10.84
Sociétés Financières	16.95	21.93
Énergie	10.66	11.92
Technologie	10.54	1.31
Santé	10.25	11.13
Consommation courante	8.19	16.01
Consommation non essentielle	7.88	10.52
Immobilier	3.12	2.54
Télécommunications	2.32	1.58
Matériaux de Base	2.10	8.78
Services aux Collectivités	0.00	3.45
Monétaire	3.53	0.00
-8	-6	-4	-2	0	2	4	6	8	10	12	14

## Ventilation par capitalisation boursière (GBP - %)
90
80
70
60
50
40
30
20
10
0	FTSE 100	FTSE 250	FTSE SmallCap	FTSE AIM	Monétaire
Port.	54.14	33.75	0.96	7.61	3.53
Indice de réf.	83.45	13.98	2.58	-	-