# Portfolio Structure ⁶
Country/Location Breakdown (%) (weighted by market value)
| France |  |  |  | 29.2 |
| --- | --- | --- | --- | --- |
| Netherl., Belg., Austria |  |  | 12.8 |  |
| Germany |  |  | 10.8 |  |
| Switzerland, Scandinavia |  |  | 10.3 |  |
| Italy |  |  | 9.1 |  |
| United Kingdom |  |  | 9.1 |  |
| Spain |  | 6.0 |  |  |
| Ireland | 0.7 |  |  |  |
| Portugal | 0.2 |  |  |  |
| Eastern Europe Developed |  |  | 2.2 |  |  |  |
| Emerging Markets |  |  | 2.1 |  |  |  |
| Developed ex Europe |  |  |  | 7.1 |  |  |
| Lux., Offshore Domiciles |  |  | 1.9 |  |  |  |
| Cash, Other, NA -10 | -1.5 | 0 |  | 10 | 20 | 30 |

n
Fund
Issuer/type of issue Breakdown (%) (weighted by market value)
Top 10 Holdings (%)
| AROUNDTOWN SA EMTN PERP FIX TO FLOAT 1.625% 15.07.2198 | 0.94 |
| --- | --- |
| EIFFAGE SA FIX 1.625% 14.01.2027 | 0.92 |
| UNIBAIL-RODAMCO-WESTFLD PERP FIX TO FLOAT 2.125% 25.10.2198 | 0.65 |
| LA BANQUE POSTALE CONV FIX TO FLOAT 3.000% 20.05.2198 | 0.64 |
| ENI SPA NC6 PERP FIX TO FLOAT 2.000% 11.05.2198 | 0.57 |
| BNP PARIBAS EMTN FIX TO FLOAT 0.875% 31.08.2033 | 0.56 |
| TOTALENERGIES SE . PERP FIX TO FLOAT 2.000% 17.04.2198 | 0.49 |
| TORONTO-DOMINION BANK EMTN FIX 2.551% 03.08.2027 | 0.49 |
| ING GROEP NV EMTN FIX TO FLOAT 5.000% 30.08.2026 | 0.48 |
| BAYERISCHE LANDESBANK FIX TO FLOAT 1.375% 22.11.2032 | 0.47 |
| Total	6.21 |

Rating Breakdown (%) (weighted by market value) ⁷
| Corporate |  |  | 93.8 99.4 | AAA |  | 0.1 0.3 |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Governments |  | 6.0 0.0 |  | AA |  | 0.9 | 6.9 |
| Emerging Markets |  | 2.1 0.5 |  | A |  |  |  | 20.6 | 39.1 |  |  |
| Others | -0.2 | 0.0 |  | BBB |  |  |  |  |  | 53.7 | 70.2 |
| Cash | -1.7 | 0.0 |  | BB |  | 0.0 | 8.6 |  |  |  |  |
|  |  |  |  | Others |  | 1.3 0.0 |  |  |  |  |  |
|  |  |  |  | Cash | -1.7 | 0.0 |  |  |  |  |  |

-25	0	25	50	75	100
n
Fund 
n
Benchmark
Rating Breakdown (%) (weighted by duration) ⁷
-20	0	20	40	  60    80 
n
Fund 
n
Benchmark
AAA AA A BBB BB
Others
-23.1
-0.9
0.4
6.5
7.2
0.0
1.1
0.0
29.0
40.8
52.3
86.7

Translation (ENFR, 2022-08-31):
# Structure du fonds ⁷
par pays/répartition géographique en % (en fonction de la valeur sur le marché)
| France |  |  |  | 29,2 |
| --- | --- | --- | --- | --- |
| PB., Belg., Autriche |  |  | 12,8 |  |
| Allemagne |  |  | 10,8 |  |
| Suisse, Scandinavie |  |  | 10,3 |  |
| Italie |  |  | 9,1 |  |
| Royaume-Uni |  |  | 9,1 |  |
| Espagne |  | 6,0 |  |  |
| Irlande | 0,7 |  |  |  |
| Portugal | 0,2 |  |  |  |
| Eur. de l'Est développés |  |  | 2,2 |  |  |  |
| Marchés émergents |  |  | 2,1 |  |  |  |
| ex-Europe développés |  |  |  | 7,1 |  |  |
| Lux., Rés. offshores |  |  | 1,9 |  |  |  |
| Liqu., Autres, Non dispo. -10 | -1,5 | 0 |  | 10 | 20 | 30 |

n
Fonds
par émetteur/genre d’emprunt en % (en fonction de la valeur sur le marché)
10 principales lignes du fonds (%)
| AROUNDTOWN SA EMTN PERP FIX TO FLOAT 1.625% 15.07.2198 | 0,94 |
| --- | --- |
| EIFFAGE SA FIX 1.625% 14.01.2027 | 0,92 |
| UNIBAIL-RODAMCO-WESTFLD PERP FIX TO FLOAT 2.125% 25.10.2198 | 0,65 |
| LA BANQUE POSTALE CONV FIX TO FLOAT 3.000% 20.05.2198 | 0,64 |
| ENI SPA NC6 PERP FIX TO FLOAT 2.000% 11.05.2198 | 0,57 |
| BNP PARIBAS EMTN FIX TO FLOAT 0.875% 31.08.2033 | 0,56 |
| TOTALENERGIES SE . PERP FIX TO FLOAT 2.000% 17.04.2198 | 0,49 |
| TORONTO-DOMINION BANK EMTN FIX 2.551% 03.08.2027 | 0,49 |
| ING GROEP NV EMTN FIX TO FLOAT 5.000% 30.08.2026 | 0,48 |
| BAYERISCHE LANDESBANK FIX TO FLOAT 1.375% 22.11.2032 | 0,47 |
| Total	6,21 |

par notations financières en % (en fonction de la valeur sur le marché) ⁸
| Emprunts d'entreprises |  |  | 93,8 99,4 | AAA |  | 0,1 0,3 |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Emprunts d'Etat |  | 6,0 0,0 |  | AA |  | 0,9 | 6,9 |
| Marchés émergents |  | 2,1 0,5 |  | A |  |  |  | 20,6 | 39,1 |  |  |
| Autres | -0,2 | 0,0 |  | BBB |  |  |  |  |  | 53,7 | 70,2 |
| Liquidité | -1,7 | 0,0 |  | BB |  | 0,0 | 8,6 |  |  |  |  |
|  |  |  |  | Autres |  | 1,3 0,0 |  |  |  |  |  |
|  |  |  |  | Liquidité | -1,7 | 0,0 |  |  |  |  |  |

-25	0	25	50	75	100
n
Fonds  
n
Indice de référence
par notations financières en % (exprimé en fonction de la duration) ⁸
-20	0	20	40	  60    80 
n
Fonds  
n
Indice de référence
AAA AA A BBB BB
Autres
-23,1
-0,9
0,4
6,5
7,2
0,0
1,1
0,0
29,0
40,8
52,3
86,7
-50	-25	0	25	50	75	100
n
Fonds  
n
Indice de référence