# Portfolio Analysis
## Asset Allocation (%)
-10	0	10	20	30	40	50	60	70	80	90	100	110
| Equities | 96.52 | 97.07 | 97.55 | 97.75 | 95.79 | 93.26 | 84.47 | 98.20 | 76.21 | 89.82 | 80.42 | 72.08 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 3.60 | 0.91 | 0.89 | 1.61 | 1.64 | 1.62 | 1.65 | 1.65 | 1.68 | 1.62 | 1.68 | 1.88 |
| Bonds | 1.78 | 1.40 | 1.32 | 1.03 | 0.56 | 0.56 | 0.56 | 0.81 | 0.81 | 0.79 | 0.72 | 0.78 |
| Monetary | -1.90 | 0.62 | 0.24 | -0.40 | 2.01 | 4.56 | 13.32 | -0.65 | 21.30 | 7.78 | 17.19 | 25.26 |

31/03/2021
30/04/2021
31/05/2021
30/06/2021
30/07/2021
31/08/2021
30/09/2021
29/10/2021
30/11/2021
31/12/2021
31/01/2022
28/02/2022
For the Asset allocation, the equities derivatives exposure is included in the equities part . The counterpart of this exposure is included in the monetary part and gives an overall exposure of 100%.

## Currency Breakdown (%)
70
60
50
40
30
20
10
0	EUR	USD	GBP	HKD	SEK	CNH	Other
Portfolio	60.94	14.23	11.59	7.18	2.91	1.80	1.35
Source(s): AXA Investment Managers - GICS as at 28/02/2022
For more information about AXA IM, visit axa-im.com
| Equity : 72% of the overall Portfolio |  |
| --- | --- |
| Sector Breakdown (%) |  |  | Securities Exposure by geographical area (%) |  |
|  | Portfolio |  |  | Portfolio |
| IT | 24.40 |  | European Economic Area | 23.49 |
| Cons. disc. | 15.78 |  | North America | 20.64 |
| Financials | 15.61 |  | Others | 11.93 |
| Cons. stap. | 15.61 |  | Emerging Markets | 10.43 |
| Industrials | 13.16 |  | Japan | 5.19 |
| Health Care | 6.10 |  | Asia ex Japan | 0.56 |
| Communication Services | 5.67 |  |
| Materials | 3.47 |
| Real estate | 0.56 |
| Energy | 0.36 |
| Utilities | -0.73 |
| MarketCap Breakdown (EUR - %) |  |

40
36
32
28
24
20
16
12
8
4
- 0 To250mn250mn To 500mn500mn To 1bn1bn To 3bn3bn To 5bn5bn To 10bn10bn To 25bn25bn To 100bn100bn To 250bnMore Than 250bnPort.	0.13	0.01	0.55	2.88	5.08	9.01	12.76	34.59	7.37	12.02Source(s): AXA Investment Managers - GICS as at 28/02/2022For more information about AXA IM, visit axa-im.com

| Top 10 Holdings |  |
| --- | --- |
| Equity	Weighting (%) | Sector | Issuer country | Currency |
| Diageo PLC	3.61 | Cons. stap. | Others | GBP |
| Keyence Corp	2.05 | IT | Japan | JPY |
| Prysmian SpA	1.90 | Industrials | European Economic Area | EUR |
| Inner Mongolia Yili Industrial Group Co Ltd	1.80 | Cons. stap. | Emerging Markets | CNH |
| Nestle SA	1.72 | Cons. stap. | European Economic Area | CHF |
| Rio Tinto PLC	1.65 | Materials | Others | GBP |
| Moody's Corp	1.52 | Financials | North America | USD |
| MSCI Inc	1.45 | Financials | North America | USD |
| MasterCard Inc	1.44 | IT | North America | USD |
| Cie Financiere Richemont SA	1.42 | Cons. disc. | European Economic Area | CHF |
| Total (%)	18.54 |  |  |  |
| Fixed Income : 1% of the overall portfolio |  |  |  |
| Fund Key Metrics |  |  |  |  |
|  | Portfolio |  |  | Portfolio |
| Number of Holdings | 2 | Mod. Duration |  | 1.87 |
| Number of Issuers | 2 | Yield To Worst (%) |  | 5.16 |
| Linear Average Rating | A |  |  |  |
| Top 10 Holdings |  |  |  |  |
| Name | Weighting (%) | Issuer country | Modified duration | Contribution |
| France Treasury Bill BTF 04/06/2022 | 0.20 | European Economic Area | 0.1 | 0.00 |
| Frontline Re Ltd VAR 07/06/2022 | 0.03 | Others | 0.1 | 0.00 |
| Tailwind RE Ltd VAR 01/08/2025 | 0.03 | Others | 0.1 | 0.00 |
| Residential Reinsurance 2018 Ltd VAR 06/06/2022 | 0.02 | Others | 0.0 | 0.00 |
| FloodSmart Re Ltd VAR 03/01/2024 | 0.02 | Others | 0.0 | 0.00 |
| Nakama Re Pte Ltd VAR 10/13/2026 | 0.02 | Asia ex Japan | 0.1 | 0.00 |
| Sutter Re Ltd VAR 06/06/2022 | 0.02 | Others | 0.0 | 0.00 |
| Alamo Re Ltd VAR 06/07/2024 | 0.02 | Others | 0.0 | 0.00 |
| Colombia (Republic of) 3.875% 03/22/2026 | 0.02 | Emerging Markets | 3.4 | 0.00 |
| Merna Reinsurance II Ltd VAR 07/08/2024 | 0.02 | Others | 0.1 | 0.00 |
| Total (%) | 0.38 |  |  |  |

Source(s): AXA Investment Managers - GICS as at 28/02/2022
For more information about AXA IM, visit axa-im.com

## Maturity Breakdown (%)
0.6
0.4
0.2
0.0
- year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 yearsPortfolio	0.43	0.53	0.31	0.16	0.16	0.03	0.01


## Rating Breakdown (%)
1.0
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |  |  |  |  |  |  |  |  |

0.8
0.6
0.4
0.2
| 0.0 | AA | A | BBB | BB | B | CCC | NR |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 0.23 | 0.04 | 0.19 | 0.23 | 0.14 | 0.02 | 0.79 |


## Instrument Type Breakdown (%)
0.6
0.4
0.2
0.0
Not Classified	Industrials	Quasi & Foreign
Government
Financial	Sovereign	Utility	Securitized
Portfolio	0.48	0.35	0.29	0.29	0.21	0.01	0.01
| Diversification : 2% of the overall portfolio |  |
| --- | --- |
| Top 10 Holdings |
| Equity | Weighting (%) | Issuer country | Currency |
| MIRABAUD - CONVERTIBLE BONDS EUROPE | 0.97 | Others | EUR |
| AXA IM WAVE CAT BDS M CAPUSD | 0.00 | Others | USD |
| AXA IM WAVE CAT-MCEURH | 0.00 | Others | EUR |
| Total (%) | 0.97 |  |  |
| Source(s): AXA Investment Managers - GICS as at 28/02/2022 For more information about AXA IM, visit axa-im.com |  |  |  |

Translation (ENDE, 2022-02-28):
# Portfolioanalyse
## Portfolio-Strukterierung (%)
-10	0	10	20	30	40	50	60	70	80	90	100	110
| Aktien | 96.52 | 97.07 | 97.55 | 97.75 | 95.79 | 93.26 | 84.47 | 98.20 | 76.21 | 89.82 | 80.42 | 72.08 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversifizierung | 3.60 | 0.91 | 0.89 | 1.61 | 1.64 | 1.62 | 1.65 | 1.65 | 1.68 | 1.62 | 1.68 | 1.88 |
| Anleihen | 1.78 | 1.40 | 1.32 | 1.03 | 0.56 | 0.56 | 0.56 | 0.81 | 0.81 | 0.79 | 0.72 | 0.78 |
| Geldmarkt | -1.90 | 0.62 | 0.24 | -0.40 | 2.01 | 4.56 | 13.32 | -0.65 | 21.30 | 7.78 | 17.19 | 25.26 |

31/03/2021
30/04/2021
31/05/2021
30/06/2021
30/07/2021
31/08/2021
30/09/2021
29/10/2021
30/11/2021
31/12/2021
31/01/2022
28/02/2022
Im Bereich 'Anlagenaufteilung' sind Aktienderivate im Aktienanteil berücksichtigt. Der Gegenpart dazu ist im Geldmarktanteil berücksichtigt, so dass die Aufteilung insgesamt 100% ergibt.

## Engagement nach Währung (%)
70
60
50
40
30
20
10
- EUR	USD	GBP	HKD	SEK	CNH	SonstigePortfolio	60.94	14.23	11.59	7.18	2.91	1.80	1.35Quellen : AXA Investment Managers - GICS per 28/02/2022Weitere Informationen über AXA IM finden Sie unter axa-im.com

| Aktien : 72% des Gesamtportfolios |  |
| --- | --- |
| Sektorengewichtung (%) |  |  | Geographische Ausrichtung (%) |  |
|  | Portfolio |  |  | Portfolio |
| Informatik | 24.40 |  | Europäischer Wirtschaftsraum | 23.49 |
| Dauerh. Konsumg. | 15.78 |  | Nordamerika | 20.64 |
| Finanzen | 15.61 |  | Sonstige | 11.93 |
| Kurzleb. Konsumg. | 15.61 |  | Aufstrebende Märkte | 10.43 |
| Industrie | 13.16 |  | Japan | 5.19 |
| Gesundheit | 6.10 |  | Asien ex Japan | 0.56 |
| Komm. Dienste | 5.67 |  |
| Werkstoffe | 3.47 |
| Immobilien | 0.56 |
| Energie | 0.36 |
| Öffentl. Dienste | -0.73 |


## Aufgliederung nach Marktkapitalisierung (EUR - %)
40
35
30
25
20
15
10
5
Von 0 bis
250 Moi
Von 250 bis
500 Moi
Von 500 Mio
bis 1 Mrd
Von 1 bis 3
Mrd
Von 3 bis 5
Mrd
Von 5 bis 10
Mrd
Von 10 bis
25 Mrd
Von 25 bis
100 Mrd
Von 100 bis
250 Mrd
Mehr als
250 Mrd.
0
Port.	0.13	0.01	0.55	2.88	5.08	9.01	12.76	34.59	7.37	12.02
Quellen : AXA Investment Managers - GICS per 28/02/2022
Weitere Informationen über AXA IM finden Sie unter axa-im.com

## Top 10 Positionen
Aktie	Gewichtung (%)	Kategorie	Investiert in	Währung
Diageo PLC	3.61	Kurzleb. Konsumg.	Sonstige	GBP
Keyence Corp	2.05	Informatik	Japan	JPY
Prysmian SpA	1.90  Industrie	Europäischer Wirtschaftsraum EUR Inner Mongolia Yili Industrial Group Co Ltd	1.80  Kurzleb. Konsumg.  Aufstrebende Märkte	CNH Nestle SA	1.72   Kurzleb. Konsumg.   Europäischer Wirtschaftsraum   CHF
Rio Tinto PLC	1.65   Werkstoffe	Sonstige	GBP
Moody's Corp	1.52   Finanzen	Nordamerika	USD
MSCI Inc	1.45   Finanzen	Nordamerika	USD
MasterCard Inc	1.44	Informatik	Nordamerika	USD
Cie Financiere Richemont SA	1.42	Dauerh. Konsumg.	Europäischer Wirtschaftsraum	CHF
Summe (%)	18.54
Anleihen : 1% des Gesamtportfolios

## Fondsindikatoren
Portfolio
Anzahl Positionen	2
Anzahl Emittenten	2
Portfolio
Mod. Duration	1.87
Yield-to-Worst (%)	5.16
| Durchschnittliches Rating (Linear) | A |  |
| --- | --- | --- |
| Die grössten Werte |  |
| Name | Gewichtung (%) | Investiert in | Sensitivität | Beitrag |
| France Treasury Bill BTF 04/06/2022 | 0.20 | Europäischer Wirtschaftsraum | 0.1 | 0.00 |
| Frontline Re Ltd VAR 07/06/2022 | 0.03 | Sonstige | 0.1 | 0.00 |
| Tailwind RE Ltd VAR 01/08/2025 | 0.03 | Sonstige | 0.1 | 0.00 |
| Residential Reinsurance 2018 Ltd VAR 06/06/2022 | 0.02 | Sonstige | 0.0 | 0.00 |
| FloodSmart Re Ltd VAR 03/01/2024 | 0.02 | Sonstige | 0.0 | 0.00 |
| Nakama Re Pte Ltd VAR 10/13/2026 | 0.02 | Asien ex Japan | 0.1 | 0.00 |
| Sutter Re Ltd VAR 06/06/2022 | 0.02 | Sonstige | 0.0 | 0.00 |
| Alamo Re Ltd VAR 06/07/2024 | 0.02 | Sonstige | 0.0 | 0.00 |
| Colombia (Republic of) 3.875% 03/22/2026 | 0.02 | Aufstrebende Märkte | 3.4 | 0.00 |
| Merna Reinsurance II Ltd VAR 07/08/2024 | 0.02 | Sonstige | 0.1 | 0.00 |
| Summe (%) | 0.38 |  |  |  |

Quellen : AXA Investment Managers - GICS per 28/02/2022
Weitere Informationen über AXA IM finden Sie unter axa-im.com

## Engagement nach Laufzeit (%)
0.6
0.4
0.2
0.0
- Jahre	1-3 Jahre	3-5 Jahre	5-7 Jahre	7-10 Jahre	10-20 Jahre	+20 JahrePortfolio	0.43	0.53	0.31	0.16	0.16	0.03	0.01


## Engagement nach Rating (%)
1.0
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |  |  |  |  |  |  |  |  |

0.8
0.6
0.4
0.2
| 0.0 | AA | A | BBB | BB | B | CCC | NR |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 0.23 | 0.04 | 0.19 | 0.23 | 0.14 | 0.02 | 0.79 |


## Titelstruktur (%)
0.6
0.4
0.2
0.0
Ohne Zuordnung	Industrie	Quasi & Foreign
Government
Finanzen	Sovereign	Versorgungsbetriebe	Securitized
Portfolio	0.48	0.35	0.29	0.29	0.21	0.01	0.01
| Diversifizierung : 2% des Gesamtportfolios |  |
| --- | --- |
| Top 10 Positionen |
| Aktie | Gewichtung (%) | Investiert in | Währung |
| MIRABAUD - CONVERTIBLE BONDS EUROPE | 0.97 | Sonstige | EUR |
| AXA IM WAVE CAT BDS M CAPUSD | 0.00 | Sonstige | USD |
| AXA IM WAVE CAT-MCEURH | 0.00 | Sonstige | EUR |
| Summe (%) | 0.97 |  |  |
| Quellen : AXA Investment Managers - GICS per 28/02/2022 Weitere Informationen über AXA IM finden Sie unter axa-im.com |  |  |  |