# HOLDINGS: % OF PORTFOLIO
Main Holdings (%)
by Country (%)
Against Benchmark
| BNPP RMB BOND-X C | 8.18 |
| --- | --- |
| BRAZIL FEDERATIVE REPUBLIC OF | 3.08 |
| SOUTH AFRICA (REPUBLIC OF) 8.50 PCT | 2.29 |
| RUSSIAN FEDERATION 5.70 PCT 17-MAY-2028 | 2.20 |
| FED REPUBLIC OF BRAZIL 4.75 PCT 14-JAN-2050 | 2.15 |
| BAHRAIN (KINGDOM OF) 7.50 PCT 20-SEP-2047 | 2.06 |
| BRAZIL FEDERATIVE REPUBLIC OF | 1.78 |
| KENYA (REPUBLIC OF) 11.75 PCT 08-OCT-2035 | 1.12 |
| RUSSIAN FEDERATION 7.65 PCT 10-APR-2030 | 1.10 |
| SOUTH AFRICA (REPUBLIC OF) 8.75 PCT | 1.09 |
| No. of Holdings in Portfolio | 320 |

| Brazil | 9.33 | + 3.66 |
| --- | --- | --- |
| Hong Kong | 8.18 | + 8.17 |
| Russian Federation | 6.87 | + 1.89 |
| South Africa | 6.69 | + 1.18 |
| Mexico | 6.23 | - 0.93 |
| Indonesia | 5.70 | - 1.63 |
| China | 5.06 | - 2.19 |
| Malaysia | 4.60 | - 1.12 |
| Egypt | 4.17 | + 2.51 |
| Ukraine | 3.44 | + 2.32 |
| Derivatives | -0.03 | - 0.03 |
| Forex contracts | -0.10 | - 0.10 |
| Other | 42.05 | - 11.52 |
| Cash | -2.20 | - 2.20 |
| Total | 100.00 |  |

by Rating (%)
by Currency (%)
Against Benchmark
| A- | 5.47 |
| --- | --- |
| BBB+ | 6.90 |
| BBB | 17.86 |
| BBB- | 5.45 |
| BB | 6.61 |
| BB- | 15.56 |
| B+ | 6.72 |
| B | 10.90 |
| B- | 4.37 |
| Other | 14.07 |
| Not rated | 8.44 |
| Derivatives | -0.03 |
| Forex contracts | -0.10 |
| Cash | -2.20 |
| Total | 100.00 |

| USD | 50.32 | + 0.32 |
| --- | --- | --- |
| THB | 5.80 | + 1.26 |
| RUB | 5.08 | + 1.66 |
| IDR | 4.92 | - 0.08 |
| MXN | 4.81 | + 0.14 |
| ZAR | 4.73 | + 0.52 |
| BRL | 4.58 | + 0.41 |
| MYR | 4.34 | - 0.03 |
| PLN | 3.67 | + 0.16 |
| EGP | 2.64 | + 2.23 |
| Other | 9.10 | - 6.61 |
| Total | 100.00 |  |

Source of data: BNP Paribas Asset Management, as at 31.01.2022
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, 2022-01-31):
# POSITIONS : % DU PORTEFEUILLE
Principales positions
| BNPP RMB BOND-X C | 8,18 |
| --- | --- |
| BRAZIL FEDERATIVE REPUBLIC OF | 3,08 |
| SOUTH AFRICA (REPUBLIC OF) 8.50 PCT | 2,29 |
| RUSSIAN FEDERATION 5.70 PCT 17-MAY-2028 | 2,20 |
| FED REPUBLIC OF BRAZIL 4.75 PCT 14-JAN-2050 | 2,15 |
| BAHRAIN (KINGDOM OF) 7.50 PCT 20-SEP-2047 | 2,06 |
| BRAZIL FEDERATIVE REPUBLIC OF | 1,78 |
| KENYA (REPUBLIC OF) 11.75 PCT 08-OCT-2035 | 1,12 |
| RUSSIAN FEDERATION 7.65 PCT 10-APR-2030 | 1,10 |
| SOUTH AFRICA (REPUBLIC OF) 8.75 PCT | 1,09 |
| Nb de positions dans le portefeuille | 320 |

par Notation
par Pays	Contre l'Indice
| Brésil | 9,33 | + 3,66 |
| --- | --- | --- |
| Hong-Kong | 8,18 | + 8,17 |
| Fédération de Russie | 6,87 | + 1,89 |
| Afrique du Sud | 6,69 | + 1,18 |
| Mexique | 6,23 | - 0,93 |
| Indonésie | 5,70 | - 1,63 |
| Chine | 5,06 | - 2,19 |
| Malaisie | 4,60 | - 1,12 |
| Égypte | 4,17 | + 2,51 |
| Ukraine | 3,44 | + 2,32 |
| Produits dérivés | -0,03 | - 0,03 |
| Contrats de change | -0,10 | - 0,10 |
| Autres | 42,05 | - 11,52 |
| Liquidités | -2,20 | - 2,20 |
| Total | 100,00 |  |

par Devise	Contre l'Indice
| A- | 5,47 |
| --- | --- |
| BBB+ | 6,90 |
| BBB | 17,86 |
| BBB- | 5,45 |
| BB | 6,61 |
| BB- | 15,56 |
| B+ | 6,72 |
| B | 10,90 |
| B- | 4,37 |
| Autres | 14,07 |
| Non noté | 8,44 |
| Produits dérivés | -0,03 |
| Contrats de change | -0,10 |
| Liquidités | -2,20 |
| Total | 100,00 |

| USD | 50,32 | + 0,32 |
| --- | --- | --- |
| THB | 5,80 | + 1,26 |
| RUB | 5,08 | + 1,66 |
| IDR | 4,92 | - 0,08 |
| MXN | 4,81 | + 0,14 |
| ZAR | 4,73 | + 0,52 |
| BRL | 4,58 | + 0,41 |
| MYR | 4,34 | - 0,03 |
| PLN | 3,67 | + 0,16 |
| EGP | 2,64 | + 2,23 |
| Autres | 9,10 | - 6,61 |
| Total | 100,00 |  |

Source : BNP Paribas Asset Management, en date du 31.01.2022
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.