# Portfolio Analysis
## Asset Allocation (%)
-10	0	10	20	30	40	50	60	70	80	90	100	110
| Equities | 55.75 | 82.54 | 89.57 | 90.88 | 97.32 | 96.52 | 97.07 | 97.55 | 97.75 | 95.79 | 93.26 | 84.47 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 0.83 | 3.35 | 3.31 | 3.44 | 6.37 | 3.60 | 0.91 | 0.89 | 1.61 | 1.64 | 1.62 | 1.65 |
| Bonds | 23.60 | 19.45 | 12.05 | 6.50 | 1.75 | 1.78 | 1.40 | 1.32 | 1.03 | 0.56 | 0.56 | 0.56 |
| Monetary | 19.81 | -5.34 | -4.93 | -0.82 | -5.44 | -1.90 | 0.62 | 0.24 | -0.40 | 2.01 | 4.56 | 13.32 |

30/10/2020
30/11/2020
31/12/2020
29/01/2021
26/02/2021
31/03/2021
30/04/2021
31/05/2021
30/06/2021
30/07/2021
31/08/2021
30/09/2021
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 (%)
100
80
60
40
20
0
|  | EUR | GBP | JPY | CNH | HKD | CNY | Other |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Portfolio | 87.01 | 7.96 | 3.79 | 2.22 | 1.08 | 0.79 | -2.85 |

-20
Source(s): AXA Investment Managers - GICS as at 30/09/2021
For further information please visit www.axa-im.com
| Equity : 84% of the Overall Portfolio |  |
| --- | --- |
| Sector Breakdown (%) |  |  | Geographical Breakdown (%) |  |
|  | Portfolio |  |  | Portfolio |
| IT | 23.22 |  | European Economic Area | 43.49 |
| Financials | 19.56 |  | North America | 22.31 |
| Industrials | 15.04 |  | Emerging Markets | 12.68 |
| Cons. stap. | 13.60 |  | Japan | 6.39 |
| Cons. disc. | 13.10 |  | Asia ex Japan | 0.48 |
| Communication Services | 5.59 |  |
| Health Care | 5.41 |
| Materials | 3.68 |
| Real estate | 0.61 |
| Energy | 0.53 |
| Utilities | -0.35 |
| MarketCap Breakdown (EUR - %) |  |

44
40
36
32
28
24
20
16
12
8
4
- 0 To250mn500mn To 1bn1bn To 3bn3bn To 5bn5bn To 10bn10bn To 25bn25bn To 100bn100bn To 250bnMore Than 250bnPort.	0.13	0.59	2.63	5.38	7.37	15.85	38.53	7.70	13.63Source(s): AXA Investment Managers - GICS as at 30/09/2021For further information please visit www.axa-im.com

| Top 10 Holdings |  |
| --- | --- |
| Equity | Weighting (%) | Sector | Issuer country | Currency |
| Diageo PLC | 3.47 | Cons. stap. | European Economic Area | GBP |
| Keyence Corp | 2.41 | IT | Japan | JPY |
| MSCI Inc | 2.05 | Financials | North America | USD |
| Prysmian SpA | 2.03 | Industrials | European Economic Area | EUR |
| Moody's Corp | 1.68 | Financials | North America | USD |
| MasterCard Inc | 1.62 | IT | North America | USD |
| Nestle SA | 1.60 | Cons. stap. | European Economic Area | CHF |
| Alphabet Inc | 1.51 | Communication Services | North America | USD |
| Yihai International Holding Ltd | 1.51 | Cons. stap. | Emerging Markets | HKD |
| Inner Mongolia Yili Industrial Group Co Ltd | 1.40 | Cons. stap. | Emerging Markets | CNH |
| Total (%) | 19.29 |  |  |  |

Fixed Income : 1% of the Overall Portfolio
| Fund Key Metrics |  |
| --- | --- |
|  | Portfolio |  |  |  | Portfolio |
| Number of Holdings | 1 |  | Mod. Duration |  | 2.37 |
| Number of Issuers | 1 |  | Yield To Worst (%) |  | 4.83 |
| Linear Average Rating | A |  |  |  |  |
| Top 10 Holdings |  |  |  |  |  |
| Name | Weighting (%) |  | Issuer country | Modified duration | Contribution |
| Frontline Re Ltd VAR 07/06/2022 | 0.02 |  | Others | 0.2 | 0.00 |
| Residential Reinsurance 2018 Ltd VAR 06/06/2022 | 0.02 |  | Others | 0.2 | 0.00 |
| Sanders Re Ltd VAR 12/06/2021 | 0.02 |  | Others | 0.0 | 0.00 |
| FloodSmart Re Ltd VAR 03/01/2024 | 0.02 |  | Others | 0.0 | 0.00 |
| Alamo Re Ltd VAR 06/07/2024 | 0.01 |  | Others | 0.0 | 0.00 |
| Nakama Re Ltd VAR 10/13/2021 | 0.01 |  | Others | 0.0 | 0.00 |
| Tailwind Re Ltd 2017-1 VAR 01/08/2022 | 0.01 |  | Others | 0.2 | 0.00 |
| Residential Reinsurance 2017 Ltd VAR 12/06/2021 | 0.01 |  | Others | 0.2 | 0.00 |
| Tailwind Re Ltd 2017-1 VAR 01/08/2022 | 0.01 |  | Others | 0.2 | 0.00 |
| Merna Reinsurance II Ltd VAR 07/08/2024 | 0.01 |  | Others | 0.2 | 0.00 |
| Total (%) | 0.17 |  |  |  |  |

Source(s): AXA Investment Managers - GICS as at 30/09/2021
For further information please visit www.axa-im.com

## Maturity Breakdown (%)
0.4
0.3
0.2
0.1
0.0
- year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 yearsPortfolio	0.33	0.36	0.25	0.13	0.16	0.05


## Rating Breakdown (%)
0.8
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |  |  |  |  |  |  |

0.6
0.4
0.2
| 0.0 | AA | A | BBB | BB | B | NR |
| --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 0.02 | 0.02 | 0.19 | 0.22 | 0.17 | 0.66 |


## Instrument Type Breakdown (%)
0.6
0.4
0.2
0.0
Not Classified	Industrials	Quasi & Foreign Government
Financial	Utility
Portfolio	0.57	0.27	0.26	0.18	0.01
| Diversified |  |
| --- | --- |
| Top 10 Holdings |
| Equity | Weighting (%) | Issuer country | Currency |
| MIRABAUD - CONVERTIBLE BONDS EUROPE | 0.91 | Others | EUR |
| AXA IM WAVE CAT BDS M CAPUSD | 0.00 | Others | USD |
| AXA IM WAVE CAT-MCEURH | 0.00 | Others | EUR |
| Total (%) | 3 |  |  |
| Source(s): AXA Investment Managers - GICS as at 30/09/2021 For further information please visit www.axa-im.com |  |  |  |

Translation (ENDE, 2021-09-30):
# Portfolioanalyse
## Portfolio-Strukterierung (%)
-10	0	10	20	30	40	50	60	70	80	90	100	110
| Aktien | 55.75 | 82.54 | 89.57 | 90.88 | 97.32 | 96.52 | 97.07 | 97.55 | 97.75 | 95.79 | 93.26 | 84.47 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversifizierung | 0.83 | 3.35 | 3.31 | 3.44 | 6.37 | 3.60 | 0.91 | 0.89 | 1.61 | 1.64 | 1.62 | 1.65 |
| Anleihen | 23.60 | 19.45 | 12.05 | 6.50 | 1.75 | 1.78 | 1.40 | 1.32 | 1.03 | 0.56 | 0.56 | 0.56 |
| Geldmarkt | 19.81 | -5.34 | -4.93 | -0.82 | -5.44 | -1.90 | 0.62 | 0.24 | -0.40 | 2.01 | 4.56 | 13.32 |

30/10/2020
30/11/2020
31/12/2020
29/01/2021
26/02/2021
31/03/2021
30/04/2021
31/05/2021
30/06/2021
30/07/2021
31/08/2021
30/09/2021
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 (%)
100
80
60
40
20
0
|  | EUR | GBP | JPY | CNH | HKD | CNY | Sonstige |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Portfolio | 87.01 | 7.96 | 3.79 | 2.22 | 1.08 | 0.79 | -2.85 |

-20
Quellen : AXA Investment Managers - GICS per 30/09/2021
Mehr Information finden Sie unter: www.axa-im.com
| Aktien : 84% of the Overall Portfolio |  |
| --- | --- |
| Sektorengewichtung (%) |  |  | Geographische Ausrichtung (%) |  |
|  | Portfolio |  |  | Portfolio |
| Informatik | 23.22 |  | Europäischer Wirtschaftsraum | 43.49 |
| Finanzen | 19.56 |  | Nordamerika | 22.31 |
| Industrie | 15.04 |  | Aufstrebende Märkte | 12.68 |
| Kurzleb. Konsumg. | 13.60 |  | Japan | 6.39 |
| Dauerh. Konsumg. | 13.10 |  | Asien ex Japan | 0.48 |
| Komm. Dienste | 5.59 |  |
| Gesundheit | 5.41 |
| Werkstoffe | 3.68 |
| Immobilien | 0.61 |
| Energie | 0.53 |
| Öffentl. Dienste | -0.35 |


## Aufgliederung nach Marktkapitalisierung (EUR - %)
44
40
36
32
28
24
20
16
12
8
4
0	Von 0 bis
250 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.
Port.	0.13	0.59	2.63	5.38	7.37	15.85	38.53	7.70	13.63
Quellen : AXA Investment Managers - GICS per 30/09/2021
Mehr Information finden Sie unter: www.axa-im.com

## Top 10 Positionen
Aktie	Gewichtung (%)	Kategorie	Investiert in	Währung
Diageo PLC	3.47	Kurzleb. Konsumg.	Europäischer Wirtschaftsraum	GBP
Keyence Corp	2.41	Informatik	Japan	JPY
MSCI Inc	2.05	Finanzen	Nordamerika	USD
Prysmian SpA	2.03	Industrie	Europäischer Wirtschaftsraum	EUR
Moody's Corp	1.68	Finanzen	Nordamerika	USD
MasterCard Inc	1.62	Informatik	Nordamerika	USD
Nestle SA	1.60	Kurzleb. Konsumg.	Europäischer Wirtschaftsraum	CHF
Alphabet Inc	1.51	Komm. Dienste	Nordamerika	USD
Yihai International Holding Ltd	1.51  Kurzleb. Konsumg.  Aufstrebende Märkte	HKD Inner Mongolia Yili Industrial Group Co Ltd	1.40  Kurzleb. Konsumg.  Aufstrebende Märkte	CNH Summe (%)		19.29
Anleihen : 1% of the Overall Portfolio

## Fondsindikatoren
Portfolio
Anzahl Positionen	1
Anzahl Emittenten	1
Portfolio
Mod. Duration	2.37
Yield-to-Worst (%)	4.83
| Durchschnittliches Rating (Linear) | A |  |
| --- | --- | --- |
| Die grössten Werte |  |
| Name | Gewichtung (%) | Investiert in | Sensitivität | Beitrag |
| Frontline Re Ltd VAR 07/06/2022 | 0.02 | Sonstige | 0.2 | 0.00 |
| Residential Reinsurance 2018 Ltd VAR 06/06/2022 | 0.02 | Sonstige | 0.2 | 0.00 |
| Sanders Re Ltd VAR 12/06/2021 | 0.02 | Sonstige | 0.0 | 0.00 |
| FloodSmart Re Ltd VAR 03/01/2024 | 0.02 | Sonstige | 0.0 | 0.00 |
| Alamo Re Ltd VAR 06/07/2024 | 0.01 | Sonstige | 0.0 | 0.00 |
| Nakama Re Ltd VAR 10/13/2021 | 0.01 | Sonstige | 0.0 | 0.00 |
| Tailwind Re Ltd 2017-1 VAR 01/08/2022 | 0.01 | Sonstige | 0.2 | 0.00 |
| Residential Reinsurance 2017 Ltd VAR 12/06/2021 | 0.01 | Sonstige | 0.2 | 0.00 |
| Tailwind Re Ltd 2017-1 VAR 01/08/2022 | 0.01 | Sonstige | 0.2 | 0.00 |
| Merna Reinsurance II Ltd VAR 07/08/2024 | 0.01 | Sonstige | 0.2 | 0.00 |
| Summe (%) | 0.17 |  |  |  |

Quellen : AXA Investment Managers - GICS per 30/09/2021
Mehr Information finden Sie unter: www.axa-im.com

## Engagement nach Laufzeit (%)
0.4
0.3
0.2
0.1
0.0
0-1 Jahre	1-3 Jahre	3-5 Jahre	5-7 Jahre	7-10 Jahre	10-20 Jahre
Portfolio	0.33	0.36	0.25	0.13	0.16	0.05

## Engagement nach Rating (%)
0.8
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |  |  |  |  |  |  |

0.6
0.4
0.2
| 0.0 | AA | A | BBB | BB | B | NR |
| --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 0.02 | 0.02 | 0.19 | 0.22 | 0.17 | 0.66 |


## Titelstruktur (%)
0.6
0.4
0.2
0.0
Ohne Zuordnung	Industrie	Quasi & Foreign
Government
Finanzen	Versorgungsbetriebe
Portfolio	0.57	0.27	0.26	0.18	0.01
| Diversifizierung |  |
| --- | --- |
| Top 10 Positionen |
| Aktie | Gewichtung (%) | Investiert in | Währung |
| MIRABAUD - CONVERTIBLE BONDS EUROPE | 0.91 | Sonstige | EUR |
| AXA IM WAVE CAT BDS M CAPUSD | 0.00 | Sonstige | USD |
| AXA IM WAVE CAT-MCEURH | 0.00 | Sonstige | EUR |
| Summe (%) | 3 |  |  |
| Quellen : AXA Investment Managers - GICS per 30/09/2021 Mehr Information finden Sie unter: www.axa-im.com |  |  |  |