# Portfolio analysis (including derivatives)
100.95%
63.60%
62.80%
60.71%
33.45%
33.35%
34.97%

## Asset allocation	Currency exposure
70%
60%
50%
40%
30%
20%
10%
0%
2.95%
3.85%
4.32%
Equity	Bonds	Cash
30/07/2021	31/08/2021	30/09/2021
120%
90%
60%
30%
0%
-30%
0.12%
0.00%
0.00%
0.00%
0.00%
-1.44%
USD	JPY	NOK	SEK	AUD	CHF	Other
Portfolio
Breakdown by asset class / region
|  | Equity | Bonds | Cash | Total |
| --- | --- | --- | --- | --- |
| North America | 37.45% | 12.52% | 3.47% | 53.44% |
| Euro Zone | 7.31% | 13.80% | 0.61% | 21.73% |
| Pacific ex-Japan | 10.73% | 4.06% | 0.12% | 14.92% |
| Europe ex Euro Zone | 2.52% | 4.59% | 0.09% | 7.19% |
| Japan | 2.70% |  | 0.02% | 2.72% |
| Total | 60.71% | 34.97% | 4.32% |  |

| Equities |  |
| --- | --- |
| Main stocks |  |  |  |  |
| Equity | Weighting | Sector | Issuer country | Currency |
| Prologis Inc | 4.29% | Real estate | United States | USD |
| Goodman Group | 2.52% | Real estate | Australia | AUD |
| AvalonBay Communities Inc | 2.41% | Real estate | United States | USD |
| Equinix Inc | 2.33% | Real estate | United States | USD |
| Xior Student Housing NV | 2.05% | Real estate | Belgium | EUR |
| American Homes 4 Rent | 2.00% | Real estate | United States | USD |
| Capitaland Investment Ltd | 1.97% | Cons. disc. | Singapore | SGD |
| Link REIT | 1.84% | Real estate | Hong Kong | HKD |
| Duke Realty Corp | 1.84% | Real estate | United States | USD |
| Number of Holdings | 60 |  |  |  |

| Fixed income |  |
| --- | --- |
| Largest holdings (except cash) |  |  |  |  |
| Name | Weighting | Issuer country | Modified duration | Contribution** |
| Sun Hung Kai Properties 2.875% 01/21/2030 | 1.35% | Hong Kong | 7.3 | 0.10 |
| Segro Capital Sarl 0.5% 09/22/2031 | 1.22% | United Kingdom | 9.4 | 0.10 |
| Inmobiliaria Colonial SA 0.75% 06/22/2029 | 1.11% | Spain | 7.2 | 0.10 |
| Sagax AB 2.25% 03/13/2025 | 0.97% | Sweden | 3.1 | 0.00 |
| Alstria Office REIT-AG 1.5% 11/15/2027 | 0.92% | Germany | 5.6 | 0.10 |
| UDR Inc 4.4% 01/26/2029 | 0.91% | United States | 6.1 | 0.10 |
| SELP FINANCE Sarl 1.5% 12/20/2026 | 0.90% | Luxemburg | 4.8 | 0.00 |
| Physicians Realty LP 4.3% 03/15/2027 | 0.84% | United States | 4.7 | 0.00 |
| Scentre Group Trust 1 / Trust 2 3.625% 01... | 0.83% | Australia | 3.9 | 0.00 |
| Rexford Industrial Realty LP 2.125% 12/01... | 0.81% | United States | 8.0 | 0.10 |
| Sensitivity (Fixed Income) Number of Holdings | 91 |  | 0.4 |  |
| **Contribution to portfolio risk (%) |  |  |  |  |
| Allocation by rating / maturity - Fixed income |  |  |  |  |
| A | BBB | BB | Cash | Total |
| Cash |  |  | 10.99% | 10.99% |
| 0-1 year	0.39% | 0.54% |  |  | 0.93% |
| 1-3 years	0.61% | 2.43% | 1.29% |  | 4.33% |
| 3-5 years	5.08% | 14.82% | 0.63% |  | 20.53% |
| 5-7 years	4.01% | 23.35% |  |  | 27.37% |
| 7-10 years	9.52% | 26.34% |  |  | 35.85% |
| Total	19.62% | 67.48% | 1.91% | 10.99% |  |

Translation (ENDE, 2021-09-30):
# Portfolioanalyse (inklusive Derivate)
100.95%
63.60%
62.80%
60.71%
33.45%
33.35%
34.97%

## Anlagenaufteilung	Währungsausrichtung (% des Portfolios)
70%
60%
50%
40%
30%
20%
10%
0%
2.95%
3.85%
4.32%
Aktien	Anleihen	Währungs-
30/07/2021	31/08/2021	30/09/2021
120%
90%
60%
30%
0%
-30%
0.12%
0.00%
0.00%
0.00%
0.00%
-1.44%
USD	JPY	NOK	SEK	AUD	CHF	Sonstige
Portfolio
Aufteilung nach Anlageklasse / Region
|  | Aktien | Anleihen | Währungs- | Summe |
| --- | --- | --- | --- | --- |
| Nordamerika | 37.45% | 12.52% | 3.47% | 53.44% |
| Euroland | 7.31% | 13.80% | 0.61% | 21.73% |
| Pazifik (ohne Japan) | 10.73% | 4.06% | 0.12% | 14.92% |
| Europa ex Euroland | 2.52% | 4.59% | 0.09% | 7.19% |
| Japan | 2.70% |  | 0.02% | 2.72% |
| Summe | 60.71% | 34.97% | 4.32% |  |
| Aktien |  |  |  |  |
| Die grössten Werte |  |  |  |  |
| Aktie | Gewichtung | Sektor | Investiert in | Währung |
| Prologis Inc | 4.29% | Immobilien | Nordamerika | USD |
| Goodman Group | 2.52% | Immobilien | Pazifik (ohne Japan) | AUD |
| AvalonBay Communities Inc | 2.41% | Immobilien | Nordamerika | USD |
| Equinix Inc | 2.33% | Immobilien | Nordamerika | USD |
| Xior Student Housing NV | 2.05% | Immobilien | Euroland | EUR |
| American Homes 4 Rent | 2.00% | Immobilien | Nordamerika | USD |
| Capitaland Investment Ltd | 1.97% | Dauerh. Konsumg. | Pazifik (ohne Japan) | SGD |
| Link REIT | 1.84% | Immobilien | Pazifik (ohne Japan) | HKD |
| Duke Realty Corp | 1.84% | Immobilien | Nordamerika | USD |
| Anzahl Positionen | 60 |  |  |  |

| Anleihen |  |
| --- | --- |
| Die grössten Werte |  |  |  |
| Name	Gewichtung | Investiert in | Sensitivität | Beitrag** |
| Sun Hung Kai Properties 2.875% 01/21/2030	1.35% | Hong-Kong | 7.3 | 0.10 |
| Segro Capital Sarl 0.5% 09/22/2031	1.22% | Großbritannien | 9.4 | 0.10 |
| Inmobiliaria Colonial SA 0.75% 06/22/2029	1.11% | Spanien | 7.2 | 0.10 |
| Sagax AB 2.25% 03/13/2025	0.97% | Schweden | 3.1 | 0.00 |
| Alstria Office REIT-AG 1.5% 11/15/2027	0.92% | Deutschland | 5.6 | 0.10 |
| UDR Inc 4.4% 01/26/2029	0.91% | Vereinigten Staaten | 6.1 | 0.10 |
| SELP FINANCE Sarl 1.5% 12/20/2026	0.90% | Luxemburg | 4.8 | 0.00 |
| Physicians Realty LP 4.3% 03/15/2027	0.84% | Vereinigten Staaten | 4.7 | 0.00 |
| Scentre Group Trust 1 / Trust 2 3.625% 01.	0.83% | Australien | 3.9 | 0.00 |
| Rexford Industrial Realty LP 2.125% 12/01.	0.81% | Vereinigten Staaten | 8.0 | 0.10 |
| Modified Duration Anzahl Positionen	91 |  | 0.4 |  |
| **Beitrag zum Portfoliorisiko |  |  |  |
| Aufteilung nach Rating / Laufzeit - Festverzinsliche |  |  |  |
|  | A | BBB | BB | Währungs- | Summe |
| Währungs- |  |  |  | 10.99% | 10.99% |
| 0-1 Jahre | 0.39% | 0.54% |  |  | 0.93% |
| 1-3 Jahre | 0.61% | 2.43% | 1.29% |  | 4.33% |
| 3-5 Jahre | 5.08% | 14.82% | 0.63% |  | 20.53% |
| 5-7 Jahre | 4.01% | 23.35% |  |  | 27.37% |
| 7-10 Jahre | 9.52% | 26.34% |  |  | 35.85% |
| Summe | 19.62% | 67.48% | 1.91% | 10.99% |  |