# Portfolio Structure ⁶
Rating Breakdown (%) (weighted by market value) ⁷
| SWEDBANK AB GMTN FIX 4.250% 11.07.2028 | 1.89 |
| --- | --- |
| MEDTRONIC GLOBAL HLDINGS 0000 FIX 0.375% 07.03.2023 | 1.73 |
| CREDIT AGRICOLE SA EMTN FIX TO FLOAT 4.000% 12.10.2026 | 1.33 |
| SPAREBANK 1 SR BANK ASA EMTN FIX 3.750% 23.11.2027 | 1.15 |
| BURBERRY GROUP PLC FIX 1.125% 21.09.2025 | 1.11 |
| BANCO BILBAO VIZCAYA ARG GMTN FIX 4.375% 14.10.2029 | 1.09 |
| JYSKE BANK A/S FIX 5.500% 16.11.2027 | 1.08 |
| TAKEDA PHARMACEUTICAL FIX 0.750% 09.07.2027 | 1.07 |
| ACEA SPA *- FIX 3.875% 24.01.2031 | 1.04 |
| COMMERZBANK AG FIX TO FLOAT 3.000% 14.09.2027 | 1.02 |
| Total	12.51 |

Top 10 Holdings (%)
AAA AA A BBB
0.1
0.6
5.4
12.0
38.7
44.4
43.0
50.9
BB 
0.0
3.3
Others Cash
1.2
0.0
0.5
0.0
0	15	30	45	60
n
Fund 
n
Benchmark
Issuer/type of issue Breakdown (%) (weighted by market value)
Country/Location Breakdown (%) (weighted by market value)
Corporate
87.6
Netherl., Belg., Austria	15.4
Governments
Cash Emerging Markets
0.0
0.5
0.0
0.0
0.6
11.9
99.4
France	12.2
| Italy |  |  |  |  |  | 11.1 |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Germany |  |  |  |  | 9.3 |  |
| Spain |  |  |  |  | 9.3 |  |
| United Kingdom |  |  |  | 6.0 |  |  |
| Ireland |  |  | 4.2 |  |  |  |
| Portugal |  | 3.0 |  |  |  |  |
| Eastern Europe Developed | 0.5 |  |  |  |  |  |
| Developed ex Europe |  |  |  |  |  |  | 14.9 |
| Lux., Offshore Domiciles | 0.9 |  |  |  |  |  |  |
| Supranational | 0.7 |  |  |  |  |  |  |
| Cash, Other, NA | 0.6 |  |  |  |  |  |  |

Switzerland, Scandinavia	12.0
0	25	50	75	100
n
Fund 
n
Benchmark
0	4	8	12	16
n
Fund

Translation (ENIT, 2023-02-28):
# Struttura del fondo ⁸
Per solvibilità in % (ponderato in funzione del valore di mercato) ⁹
| SWEDBANK AB GMTN FIX 4.250% 11.07.2028 | 1,89 |
| --- | --- |
| MEDTRONIC GLOBAL HLDINGS 0000 FIX 0.375% 07.03.2023 | 1,73 |
| CREDIT AGRICOLE SA EMTN FIX TO FLOAT 4.000% 12.10.2026 | 1,33 |
| SPAREBANK 1 SR BANK ASA EMTN FIX 3.750% 23.11.2027 | 1,15 |
| BURBERRY GROUP PLC FIX 1.125% 21.09.2025 | 1,11 |
| BANCO BILBAO VIZCAYA ARG GMTN FIX 4.375% 14.10.2029 | 1,09 |
| JYSKE BANK A/S FIX 5.500% 16.11.2027 | 1,08 |
| TAKEDA PHARMACEUTICAL FIX 0.750% 09.07.2027 | 1,07 |
| ACEA SPA *- FIX 3.875% 24.01.2031 | 1,04 |
| COMMERZBANK AG FIX TO FLOAT 3.000% 14.09.2027 | 1,02 |
| Totale	12,51 |

10 titoli principali in %
AAA AA A BBB
0,1
0,6
5,4
12,0
38,7
44,4
43,0
50,9
BB 
0,0
3,3
Non specificato
Cash
1,2
0,0
0,5
0,0
0	15	30	45	60
n
Fondo  
n
Benchmark
Per emittente/tipo di obbligazione in % (ponderato in funzione del valore di mercato)
Per paesi/sedi in % (ponderato in funzione del valore di mercato)
Titoli corporate
87,6
P. Bassi, Belgio, Austria	15,4
Titoli governativi
Liquidità Mercati Emergenti
0,0
0,5
0,0
0,0
0,6
11,9
99,4
Francia	12,2
| Italia |  |  |  |  |  | 11,1 |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Germania |  |  |  |  | 9,3 |  |
| Spagna |  |  |  |  | 9,3 |  |
| Regno Unito |  |  |  | 6,0 |  |  |
| Irlanda |  |  | 4,2 |  |  |  |
| Portogallo |  | 3,0 |  |  |  |  |
| Europa Est Sviluppata | 0,5 |  |  |  |  |  |
| Sviluppati esclusa Europa |  |  |  |  |  |  | 14,9 |
| Luss., Domicili Offshore | 0,9 |  |  |  |  |  |  |
| Sovranazionale | 0,7 |  |  |  |  |  |  |
| Liquidità, Altro, ND | 0,6 |  |  |  |  |  |  |

Svizzera, Scandinavia	12,0
0	25	50	75	100
n
Fondo  
n
Benchmark
0	4	8	12	16
n
Fondo