# Portfolio analysis
## Country Breakdown
36%
32%
28%
24%
20%
16%
12%
8%
4%
0%
United States	United Kingdom	Italy	Germany	France	Cash
Portfolio

## Maturity Breakdown
60%
50%
40%
30%
20%
10%
0%

## Contribution to duration by country
Cash	7-10 years	10-20 years
Portfolio

## Contribution to duration by currency and maturity
|  | 0-1 year | 7-10 years | 10-20 years | Total |
| --- | --- | --- | --- | --- |
|  | EUR | 0.01 | -0.94 | 1.44 | 0.52 |
|  | GBP | -0.01 | -1.55 | 2.03 | 0.47 |
|  | USD | -0.01 | -0.61 | 1.18 | 0.56 |
| Portfolio | Total | 0.00 | -3.11 | 4.66 | 1.55 |

Source(s): AXA Investment Managers as at 30/04/2021
| Portfolio analysis |  |
| --- | --- |
| Main holdings |  |  |  |  |
| Name | Weighting | Issuer country | Modified duration | Contribution** |
| UK Gilt Inflation Linked 0.125% 08/10/2031 | 20.64% | United Kingdom | 10.4 | 2.14 |
| US Treasury Inflation Idx Bonds 3.375% 04/15/2032 | 12.80% | United States | 9.6 | 1.23 |
| German Inflation Linked Bond 0.5% 04/15/2030 | 10.19% | Germany | 8.9 | 0.91 |
| US Treasury Inflation Idx Bonds 3.875% 04/15/2029 | 9.35% | United States | 7.1 | 0.67 |
| UK Gilt Inflation Linked 0.125% 03/22/2029 | 7.60% | United Kingdom | 8.0 | 0.61 |
| Italy (Republic of) 1.25% 09/15/2032 | 6.38% | Italy | 10.7 | 0.68 |
| US Treasury Inflation Idx Bonds 0.125% 07/15/2030 | 5.25% | United States | 9.2 | 0.48 |
| France Government Bond OAT 3.15% 07/25/2032 | 5.15% | France | 10.0 | 0.51 |
| Italy (Republic of) 0.4% 05/15/2030 | 4.34% | Italy | 8.9 | 0.39 |
| US Treasury Inflation Idx Bonds 0.125% 01/15/2031 | 4.05% | United States | 9.7 | 0.39 |
| **Contribution to portfolio risk (%) |  |  |  |  |

Source(s): AXA Investment Managers as at 30/04/2021

Translation (ENFR, 2021-04-30):
# Analyse du portefeuille
## Exposition par pays
36%
32%
28%
24%
20%
16%
12%
8%
4%
0%
Etats-Unis	Royaume-Uni	Italie	Allemagne	France	Cash
Portefeuille

## Exposition par maturité
60%
50%
40%
30%
20%
10%
0%

## Contribution à la duration par pays
Cash	7-10 ans	10-20 ans
Portefeuille

## Contribution à la duration par devise et par maturité
|  | 0-1 an | 7-10 ans | 10-20 ans | Total |
| --- | --- | --- | --- | --- |
|  | EUR | 0.01 | -0.94 | 1.44 | 0.52 |
|  | GBP | -0.01 | -1.55 | 2.03 | 0.47 |
|  | USD | -0.01 | -0.61 | 1.18 | 0.56 |
| Portefeuille | Total | 0.00 | -3.11 | 4.66 | 1.55 |

Source(s) : AXA Investment Managers au 30/04/2021
| Analyse du portefeuille |  |
| --- | --- |
| Les principales valeurs |  |  |  |  |
| Libellé | Pondération | Pays émetteur | Sensibilité | Contribution** |
| UK Gilt Inflation Linked 0.125% 08/10/2031 | 20.64% | Royaume-Uni | 10.4 | 2.14 |
| US Treasury Inflation Idx Bonds 3.375% 04/15/2032 | 12.80% | Etats-Unis | 9.6 | 1.23 |
| German Inflation Linked Bond 0.5% 04/15/2030 | 10.19% | Allemagne | 8.9 | 0.91 |
| US Treasury Inflation Idx Bonds 3.875% 04/15/2029 | 9.35% | Etats-Unis | 7.1 | 0.67 |
| UK Gilt Inflation Linked 0.125% 03/22/2029 | 7.60% | Royaume-Uni | 8.0 | 0.61 |
| Italy (Republic of) 1.25% 09/15/2032 | 6.38% | Italie | 10.7 | 0.68 |
| US Treasury Inflation Idx Bonds 0.125% 07/15/2030 | 5.25% | Etats-Unis | 9.2 | 0.48 |
| France Government Bond OAT 3.15% 07/25/2032 | 5.15% | France | 10.0 | 0.51 |
| Italy (Republic of) 0.4% 05/15/2030 | 4.34% | Italie | 8.9 | 0.39 |
| US Treasury Inflation Idx Bonds 0.125% 01/15/2031 | 4.05% | Etats-Unis | 9.7 | 0.39 |
| **Contribution au risque portefeuille (%) |  |  |  |  |

Source(s) : AXA Investment Managers au 30/04/2021