| Summary Statistics |  | Asset Allocation |  |  | Maturity Breakdown |  |
| --- | --- | --- | --- | --- | --- | --- |
| Average Yield to Maturity | 4,1% | Developed Countries Government Bonds | 14,5% |  | <1 Years | 18,1% |
| Modified Duration (before derivatives) | 4,7 | Asia Pacific | 0,0% |  | 1-3 Years | 24,2% |
| Modified Duration (after derivatives) | 4,5 | North America | 0,0% |  | 3-5 Years | 25,5% |
| Average Maturity | 4,9 years | Europe ex EMU | 1,5% |  | 5-7 Years | 12,9% |
| Average Rating (BLI) | BBB | EMU | 13,0% |  | 7-10 Years | 6,6% |
| Weight of Top 10 Holdings | 22,1% | Emerging Markets Government Bonds | 27,3% |  | >10 Years | 12,8% |
| Number of holdings | 110 | EEMEA | 18,0% |  |  |  |
|  |  | Asia Pacific | 4,0% |  | Currency Breakdown |  |
| Top Holdings |  | Latin America | 5,3% |  | EUR | 80,5% |
| Opportunity Sa 3,4% 31-10-2025 | 4,1% | Developed Countries Corporate Bonds | 45,2% |  | USD | 8,0% |
| France 1,25% 25-05-36 | 2,7% | Materials | 7,6% |  | CZK | 5,8% |
| France 0,5% 25-6-2044 | 2,6% | Industrials | 4,9% |  | MXN | 3,3% |
| Ireland 1% 15-05-26 | 2,3% | Consumer Discretionary | 6,7% |  | NOK | 2,1% |
| Czech Republic 5,5% 12-12-2028 | 2,2% | Consumer Staples | 1,8% |  |  | 0,2% |
| Czech Republic 4,2% 4-12-2036 | 2,0% | Health Care | 0,5% |  |  |  |
| Czech Republic 0,25% 10-2-2027 | 1,7% | Financials | 12,5% |  |  |  |
| Peru 2,75% 30-01-2026 | 1,6% | Technology | 1,8% |  |  |  |
| Nederlandse Waterschapsbank 1% 03-09-25 | 1,5% | Communications | 1,9% |  |  |  |
| Leaseplan Corp 3,5% 09-04-25 | 1,5% | Utilities | 5,1% |  |  |  |
|  |  | Energy | 2,4% |  | Regional Allocation |  |
| New Investments in January |  | Emerging Markets Corporate Bonds | 3,6% |  | EMU | 41,7% |
| Czech Republic 5,5% 12-12-2028 | 2,2% | Energy | 0,3% |  | Europe ex EMU | 9,3% |
| Czech Republic 4,2% 4-12-2036 | 2,0% | Materials | 0,0% |  | Supranational | 2,9% |
| Czech Republic 0,25% 10-2-2027 | 1,7% | Industrials | 0,3% |  | EEMEA | 21,7% |
| France (Govt Of) 1,25% 25-5-2038 | 1,3% | Financials | 0,8% |  | Asia Pacific | 5,0% |
| Bank Of America Corp 2,824% 27-4-2033 | 0,9% | Communications | 0,0% |  | North America | 7,6% |
|  |  | Utilities | 2,2% |  | Latin America | 5,3% |
| Investments sold in January |  | Supranational Bonds | 2,9% |  | Japan | 0,0% |
| US Treasuries 2,625% 15-4-2025 | 3,9% | Microfinance | 0,0% |  | Microfinance | 0,0% |
| Morocco 3,5% 19-06-2024 | 1,7% | Cash | 6,5% |  | Cash | 6,5% |
| Portugal 2,875% 15-10-25 | 1,6% |  |  |  |  |  |
| PPF Telecom Group 3,5% 20-05-24 | 1,3% |  |  |  |  |  |
| Amplifon 1,125% 13-02-27 | 1,2% |  |  |  |  |  |

Translation (ENFR, 2023-01-31):
| Statistiques principales |  | Allocation d'actifs |  |  | Répartition par maturités |  |
| --- | --- | --- | --- | --- | --- | --- |
| Rendement moyen à échéance | 4,1% | Obligations d'État pays développés | 14,5% |  | <1 An | 18,1% |
| Duration modifiée (avant couverture) | 4,7 | Asie-Pacifique | 0,0% |  | 1-3 Ans | 24,2% |
| Duration modifiée (après couverture) | 4,5 | Amérique du Nord | 0,0% |  | 3-5 Ans | 25,5% |
| Maturité moyenne | 4,9 years | Europe ex UEM | 1,5% |  | 5-7 Ans | 12,9% |
| Rating moyen (BLI) | BBB | UEM | 13,0% |  | 7-10 Ans | 6,6% |
| Poids des Top 10 | 22,1% | Obligations d'État marchés émergents | 27,3% |  | >10 Ans | 12,8% |
| # de positions | 110 | EEMEA | 18,0% |  |  |  |
|  |  | Asie-Pacifique | 4,0% |  | Répartition par devises |  |
| Principales positions |  | Amérique latine | 5,3% |  | EUR | 80,5% |
| Opportunity Sa 3,4% 31-10-2025 | 4,1% | Obligations d'entreprises pays développés | 45,2% |  | USD | 8,0% |
| France 1,25% 25-05-36 | 2,7% | Matériaux | 7,6% |  | CZK | 5,8% |
| France 0,5% 25-6-2044 | 2,6% | Produits industriels | 4,9% |  | MXN | 3,3% |
| Ireland 1% 15-05-26 | 2,3% | Consommation discrétionnaire | 6,7% |  | NOK | 2,1% |
| Czech Republic 5,5% 12-12-2028 | 2,2% | Consommation de base | 1,8% |  |  |  |
| Czech Republic 4,2% 4-12-2036 | 2,0% | Santé | 0,5% |  |  |  |
| Czech Republic 0,25% 10-2-2027 | 1,7% | Services financiers | 12,5% |  |  |  |
| Peru 2,75% 30-01-2026 | 1,6% | Technologie | 1,8% |  |  |  |
| Nederlandse Waterschapsbank 1% 03-09-2 | 1,5% | Communication | 1,9% |  |  |  |
| Leaseplan Corp 3,5% 09-04-25 | 1,5% | Services publics | 5,1% |  | Allocation géographique |  |
|  |  | Energie | 2,4% |  | UEM | 41,7% |
| Nouveaux investissements en janvier |  | Obligations d'entreprises marchés émergents | 3,6% |  | Europe ex UEM | 9,3% |
| Czech Republic 5,5% 12-12-2028 | 2,2% | Energie | 0,3% |  | Supranationale | 2,9% |
| Czech Republic 4,2% 4-12-2036 | 2,0% | Matériaux | 0,0% |  | EEMEA | 21,7% |
| Czech Republic 0,25% 10-2-2027 | 1,7% | Produits industriels | 0,3% |  | Asie-Pacifique | 5,0% |
| France (Govt Of) 1,25% 25-5-2038 | 1,3% | Financières | 0,8% |  | Amérique du Nord | 7,6% |
| Bank Of America Corp 2,824% 27-4-2033 | 0,9% | Communication | 0,0% |  | Amérique latine | 5,3% |
|  |  | Services publics | 2,2% |  | Japon | 0,0% |
| Investissements vendus en janvier |  | Obligations supranationales | 2,9% |  | Microfinance | 0,0% |
| US Treasuries 2,625% 15-4-2025 | 3,9% | Microfinance | 0,0% |  | Liquitidés | 6,5% |
| Morocco 3,5% 19-06-2024 | 1,7% | Liquitidés | 6,5% |  |  |  |
| Portugal 2,875% 15-10-25 | 1,6% |  |  |  |  |  |
| PPF Telecom Group 3,5% 20-05-24 | 1,3% |  |  |  |  |  |
| Amplifon 1,125% 13-02-27 | 1,2% |  |  |  |  |  |