# Ostrum Euro High Income Fund
## PORTFOLIO ANALYSIS AS OF 31/01/2023
ASSET ALLOCATION	Fund %
Fixed-rate bonds	46.2
CHARACTERISTICS	Fund	Index
Yield to Maturity	6.6	6.5
SHARE CLASS : R/A (EUR)	
FEES	
All-in-Fee	1.30%
Max. Sales Charge	3.00%
Max. Redemption Charge	-
Minimum Investment	1,000 EUR
Adjustable-rate bonds	36.7
Cash	7.6
Average Coupon	1.1	1.6

##### NAV (31/01/2023)
or equivalent
144.92 EUR
Money Market Funds	6.4
Bonds Mutual Funds	3.1
Total	100.0
| TOP 10 HOLDINGS | Fund % | BBB BBB- | 1.2 4.5 | 0.0 0.0 |
| --- | --- | --- | --- | --- |
| EDF TR | 3.4 | BB+ | 18.6 | 34.5 |
| O.ST.GL.H.I H-IC EUR | 3.1 | BB | 19.0 | 23.8 |
| TELEFO TR | 2.7 | BB- | 12.9 | 14.0 |


###### in % of AuM

###### SNFF 2.625% 02-29	2.6
| EDPPL TR 03-82 | 2.6 |
| --- | --- |
| VOD TR 01-79 | 2.6 |
| VMED 5.250% 05-29 | 2.2 |
| ROLLS 1.625% 05-28 | 2.1 |
| RENAUL TR 02-30 | 2.0 |
| ATALIA 4.000% 05-24 | 1.9 |
| Total | 25.3 |
| Total number of holdings in portfolio | 75 |

<1 Y	25.6 30.5	0.6	0.8
>15 Y	0.0	0.2	0.0
| 1-3 Y | 20.8 | 38.2 | 0.6 | 1.0 |  | France | 24.1 | 16.2 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 3-5 Y | 23.3 | 21.0 | 0.8 | 0.8 |  | Spain | 14.2 | 10.2 |
| 5-7 Y | 13.2 | 7.4 | 0.7 | 0.4 |  | United Kingdom | 6.9 | 6.0 |
| 7-10 Y | 3.1 | 2.7 | 0.2 | 0.2 |  | Italy Portugal | 6.0 6.0 | 15.7 1.8 |

Cash & cash equivalent	14.0	0.0	0.0
Modified Duration	2.8	3.2
CREDIT QUALITY	Fund %	Index %

###### BBB+	0.9	0.0

###### B+	9.3	9.4

###### B	3.5	14.1

###### B-	2.3	4.1

###### CCC+	7.2	0.1

###### CCC	1.7	0.0

###### NR	1.7	0.0

###### Mutual Funds	3.1	0.0

###### Cash & cash equivalent	14.0	0.0
Credit Quality reflects the average credit rating assigned to individual holdings of the fund among Moody's, S&P's and Fitch Ratings
Germany	5.4	11.6
Luxembourg	4.1	3.4
Sweden	3.3	3.6
Israel	3.3	1.7

###### The All-in fee represents the sum of Management fees and Administration fees. For further details, please refer to the definition at the end of the document.

### MANAGEMENT
Management Company

##### NATIXIS INVESTMENT MANAGERS S.A.
Investment Manager

##### OSTRUM ASSET MANAGEMENT
A responsible (1) European institutional investment management leader (2), Ostrum Asset Management supports its clients in their liability-driven investments, offering both asset management solutions and investment services.
- Ostrum AM was one of the first French asset manager signatories to the PRI in 2008. More details; www.unpri.org
- IPE Top 500 Asset Managers 2020 ranked Ostrum AM as the 77th largest asset manager, as at 12/31/2019. Any reference to a ranking, a rating or an award provides no guarantee for future performance.

Ostrum Asset Management, a subsidiary of Natixis Investment Managers S.A., is a French asset manager authorized by the Autorité des Marchés Financiers (Agreement No. GP90009) and licensed to provide investment management services in the EU.
Headquarters	Paris
Founded	1984
United States	2.8	10.3
Switzerland	2.0	1.1
Austria	1.5	0.4
Belgium	1.3	0.8
Netherlands	1.1	4.9
Assets Under Management (Billion)
Portfolio Managers

##### US $ 364.6 / € 374.5
(30/09/2022)
South Africa	0.8	0.1
Greece	0.0	2.1
Japan	0.0	1.5
Mexico	0.0	2.3
Poland	0.0	0.7
Czech Republic	0.0	1.0
Ireland	0.0	1.3
Finland	0.0	1.8
Mutual Funds	3.1	0.0
Other countries	0.0	1.6
Cash & cash equivalent	14.0	0.0

###### in % of AuM
Erwan Guilloux, FRM: began investment career in 2005;joined Ostrum Asset Management in 2015; has co-managed the Fund since 2015; EDHEC Business School.
Emilie Huot started her career in finance in 2003, joining Ostrum AM in 2012; Emilie graduated with a Master's Degree in Banking and Finance from University Paris I - Panthéon-Sorbonne.
Julien Petit : started his career in finance in 2001. He joined Ostrum AM in 2017 ; he holds a Master's degree in Finance & Management from IAE AIX (Aix Marseille Graduate School of Management), and a Master's degree in Finance from University of Paris IX-Dauphine (Paris).
| BREAKDOWN BY TYPE OF ISSUER | Fund | % | Index | Fund	Index Duration |
| --- | --- | --- | --- | --- |
| Government related | 0.0 |  | 1.9 |  | 0.1 |
| Corporates | 82.8 |  | 97.9 | 2.8 | 3.1 |
| Cyclical | 33.1 |  | 44.4 | 1.1 | 1.4 |
| Defensive | 30.3 |  | 34.6 | 1.1 | 1.2 |
| Financial | 19.4 |  | 18.9 | 0.6 | 0.5 |
| Securitized | 0.0 |  | 0.2 |  | 0.0 |
| Mutual Funds | 3.1 |  | 0.0 | 0.1 |  |
| Cash & cash equivalent | 14.0 |  | 0.0 | 0.0 |  |


###### Source: Natixis Investment Managers International unless otherwise indicated

###### BCLASS Nomenclature Bond futures are embedded in government bonds

#### INFORMATION

###### Due to active management, portfolio characteristics are subject to change. References to specific securities or industries should not be considered a recommendation.

#### Prospectus Enquiries

###### E-mail	ClientServicingAM@natixis.com

Translation (ENDE, 2023-01-31):
# Ostrum Euro High Income Fund
## PORTFOLIOSTRUKTUR ZUM 31/01/2023
VERMÖGENSALLOKATION	Fonds %
Festverzinsliche Anleihen	46,2
revidierbar verzinsliche Anleihen	36,7
Liquidität	7,6
Geldmarkt-OGA	6,4
Anleihen-OGA	3,1
Gesamt	100,0

##### in % des Nettovermögens
Rendite auf Verfall	6,6	6,5
MERKMALE	Fonds	Index
Durchschnittlicher Kupon	1,1	1,6
Modifizierte Duration	2,8	3,2
BONITÄT	Fonds %	Index %

##### BBB+	0,9	0,0
|  | BBB | 1,2 | 0,0 |
| --- | --- | --- | --- |
| TOP 10 | Fonds % | BBB- | 4,5 | 0,0 |
| EDF TR | 3,4 | BB+ | 18,6 | 34,5 |
| O.ST.GL.H.I H-IC EUR | 3,1 | BB | 19,0 | 23,8 |
| TELEFO TR | 2,7 | BB- | 12,9 | 14,0 |

| EDPPL TR 03-82 | 2,6 |
| --- | --- |
| VOD TR 01-79 | 2,6 |
| VMED 5.250% 05-29 | 2,2 |
| ROLLS 1.625% 05-28 | 2,1 |
| RENAUL TR 02-30 | 2,0 |
| ATALIA 4.000% 05-24 | 1,9 |
| Gesamt | 25,3 |
| Anzahl der Positionen im Portfolio | 75 |


##### SNFF 2.625% 02-29	2,6
US $ 364.6 / € 374.5
(30/09/2022)
Verwaltetes Vermögen (Milliarden)
<1 jahr	25,6 30,5	0,6	0,8
Durchschnittliche Rating-Agenturen die Ausgabe S & P, Moodys und Fitch;
| B+ | 9,3 | 9,4 |
| --- | --- | --- |
| B | 3,5 | 14,1 |
| B- | 2,3 | 4,1 |
| CCC+ | 7,2 | 0,1 |
| CCC | 1,7 | 0,0 |
| NR | 1,7 | 0,0 |
| OGA | 3,1 | 0,0 |
| Liquidität & Sonstige | 14,0 | 0,0 |

Transkription Nomenklatur von S & P
| 1-3 jahre | 20,8 | 38,2 | 0,6 | 1,0 |  | LÄNDERN Frankreich | 24,1 | 16,2 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 3-5 jahre | 23,3 | 21,0 | 0,8 | 0,8 |  | Spanien | 14,2 | 10,2 |
| 5-7 jahre | 13,2 | 7,4 | 0,7 | 0,4 |  | Großbritannien | 6,9 | 6,0 |
| 7-10 jahre	3,1	2,7	0,2	0,2	Italien	6,0	15,7 Portugal	6,0	1,8 >15 jahre	0,0	0,2	0,0	Deutschland	5,4	11,6 Liquidität & Sonstige	14,0	0,0	0,0	Luxemburg	4,1	3,4 Schweden	3,3	3,6 Israel	3,3	1,7 USA	2,8	10,3 Schweiz	2,0	1,1 Österreich	1,5	0,4 Belgien	1,3	0,8 Niederlande	1,1	4,9 Südafrika	0,8	0,1 Griechenland	0,0	2,1 Japan	0,0	1,5 Mexiko	0,0	2,3 Polen	0,0	0,7 République Tchèque	0,0	1,0 Irland	0,0	1,3 Finlande	0,0	1,8 OGA	3,1	0,0 Sonstige Länder	0,0	1,6 Liquidität & Sonstige	14,0	0,0 |

Portfoliomanager
Erwan Guilloux, FRM: begann seine Laufbahn im Investmentbereich im Jahr 2005; seit 2015 bei Ostrum Asset Management; Mitverwalter des Fonds seit 2015; EDHEC Business School.
Emilie Huot begann ihre Karriere im Finanzwesen im Jahr 2003 und kam 2012 zu Ostrum AM. Sie hält einen Masterabschluss in Bank- und Finanzwesen der Universität Paris I - Panthéon-Sorbonne.
Julien Petit begann seine Karriere im Finanzwesen im Jahr 2001 und kam 2017 zu Ostrum AM. Er hält einen Masterabschluss in Finanzwesen und Management der IAE AIX (Aix Marseille Graduate School of Management) und in Finanzwesen der Universität Paris IX-Dauphine (Paris)

##### in % des Nettovermögens
| AUFTEILUNG NACH ART DES EMITTENTEN | Fonds | % | Index | Fonds	Ind Sensitivität | ex |
| --- | --- | --- | --- | --- | --- |
| Staatsanleihen | 0,0 |  | 1,9 |  | 0,1 |
| Unternehmensanleihen | 82,8 |  | 97,9 | 2,8 | 3,1 |
| Defensive | 30,3 |  | 34,6 | 1,1 | 1,2 |
| Finanzwerte | 19,4 |  | 18,9 | 0,6 | 0,5 |
| Zyklische | 33,1 |  | 44,4 | 1,1 | 1,4 |
| Besicherte Anleihen | 0,0 |  | 0,2 |  | 0,0 |
| OGA | 3,1 |  | 0,0 | 0,1 |  |
| Liquidität & Sonstige | 14,0 |  | 0,0 | 0,0 |  |


##### Datenquelle: Natixis Investment Managers International soweit nicht anders angegeben

##### Nomenklatur BCLASS Anleihe-Futures sind in Staatsanleihen eingebettet
INFORMATION
Verkaufsprospekt Anfrage

##### E-Mail	ClientServicingAM@natixis.com

##### Aufgrund des aktiven Verwaltungsstils können die Merkmale des Portfolios sich ändern. Der Verweis auf bestimmte Wertpapiere oder Branchen sollte nicht als Empfehlung angesehen werden