# Portfolio analysis
## Sector breakdown
Sector over/underweight
Financials
Health Care
Industrials
Consumer Goods
Technology
Basic Materials
Consumer Services
Telecoms
Utilities
| -2% | -1% | 0% | 1% | 2% |
| --- | --- | --- | --- | --- |
| Main stocks |  |  |  |  |  |
| Equity |  | Weighting |  | Sector | Country |
|  | Portfolio | Perf. indicator* | Spread |  |  |
| Nestle SA | 9.82% | 9.70% | 0.12% | Consumer Goods | Switzerland |
| Novartis AG | 7.71% | 7.38% | 0.33% | Health Care | Switzerland |
| Roche Holding AG | 6.08% | 6.48% | -0.41% | Health Care | Switzerland |
| Swiss Life Holding AG | 5.85% | 3.02% | 2.83% | Financials | Switzerland |
| Lonza Group AG | 4.72% | 0.89% | 3.83% | Health Care | Switzerland |
| Straumann Holding AG | 4.71% | 2.19% | 2.53% | Health Care | Switzerland |
| ABB Ltd | 4.54% | 1.59% | 2.94% | Industrials | Switzerland |
| Cie Financiere Richemont SA | 4.30% | 1.71% | 2.59% | Consumer Goods | Switzerland |
| Schindler Holding AG | 4.25% | 3.46% | 0.79% | Industrials | Switzerland |
| Sika AG | 4.07% | 0.70% | 3.38% | Industrials | Switzerland |
| Number of Holdings | 31 | 100 |  |  |  |
| Turnover (1 rolling year) | 36.92% |  |  |  |  |
| Active Share | 38.56% |  |  |  |  |
| Cash | 3.92% |  |  |  |  |


## Top 5 overweight	Top 5 underweight
| Portfolio Performance Indicator* Spread |  | Portfolio Performance Indicator* Spread |
| --- | --- | --- |
| Lonza Group AG | 4.54% | 0.89% | 3.65% |  | Sonova Holding AG | 0.00% | 2.54% | -2.54% |
| Sika AG | 3.92% | 0.70% | 3.22% |  | Lindt | 1.89% | 4.26% | -2.38% |
| Partners Group Holding AG | 3.49% | 0.66% | 2.83% |  | Vifor Pharma AG | 0.00% | 1.76% | -1.76% |
| ABB Ltd | 4.36% | 1.59% | 2.77% |  | Swatch Group AG | 0.00% | 1.74% | -1.74% |
| Swiss Life Holding AG | 5.63% | 3.02% | 2.60% |  | Swiss Prime Site AG | 0.00% | 1.61% | -1.61% |

* Performance indicator : Please refer to the Benchmark section in the characteristics/disclaimers part of the document. Source(s): AXA Investment Managers - ICB as at 31/08/2018

Translation (ENDE, 2018-08-31):
# Portfolioanalyse
## Sektorengewichtung
Portfolio	Vergleichsindex*

## Sektorüber-/-untergewichtung
Finanz-Dienstleistungen	23.73%	21.89%
Gesundheitswesen	23.21%	23.37%
Industrieunternehmen	21.96%	20.97%
Verbrauchsgüter	18.09%	19.75%
Technologie	6.34%	6.71%
Grundstoffe	3.04%	3.04%
Verbraucherservice	2.73%	2.74%
Telekommunikation	0.88%	1.18%
Versorger	0.00%	0.34%
Finanz-Dienstleistungen Gesundheitswesen Industrieunternehmen Verbrauchsgüter Technologie Grundstoffe
Verbraucherservice
Telekommunikation
Versorger
-2%	-1%	0%	1%	2%
| Die grössten Werte |  |
| --- | --- |
| Aktie |  | Gewichtung |  | Sektor | Land |
|  | Portfolio | Vergleichsindex* | Spanne |  |  |
| Nestle SA | 9.45% | 9.70% | -0.25% | Verbrauchsgüter | Schweiz |
| Novartis AG | 7.42% | 7.38% | 0.03% | Gesundheitswesen | Schweiz |
| Roche Holding AG | 5.85% | 6.48% | -0.63% | Gesundheitswesen | Schweiz |
| Swiss Life Holding AG | 5.63% | 3.02% | 2.60% | Finanz-Dienstleistungen | Schweiz |
| Lonza Group AG | 4.54% | 0.89% | 3.65% | Gesundheitswesen | Schweiz |
| Straumann Holding AG | 4.53% | 2.19% | 2.35% | Gesundheitswesen | Schweiz |
| ABB Ltd | 4.36% | 1.59% | 2.77% | Industrieunternehmen | Schweiz |
| Cie Financiere Richemont SA | 4.14% | 1.71% | 2.43% | Verbrauchsgüter | Schweiz |
| Schindler Holding AG | 4.09% | 3.46% | 0.63% | Industrieunternehmen | Schweiz |
| Sika AG | 3.92% | 0.70% | 3.22% | Industrieunternehmen | Schweiz |
| Anzahl Positionen | 31 | 100 |  |  |  |
| Umschlagsrate1 | 36.92% |  |  |  |  |
| Aktiver Anteil1 | 38.56% |  |  |  |  |
| Liquide Mittel | 3.77% |  |  |  |  |


## Top 5 übergewichtete Positionen	Top 5 untergewichtete Positionen
| Portfolio Interner Vergleichsindex* Spanne |  | Portfolio Interner Vergleichsindex* Spanne |
| --- | --- | --- |
| Lonza Group AG | 4.54% | 0.89% | 3.65% |  | Sonova Holding AG | 0.00% | 2.54% | -2.54% |
| Sika AG | 3.92% | 0.70% | 3.22% |  | Lindt | 1.89% | 4.26% | -2.38% |
| Partners Group Holding AG | 3.49% | 0.66% | 2.83% |  | Vifor Pharma AG | 0.00% | 1.76% | -1.76% |
| ABB Ltd | 4.36% | 1.59% | 2.77% |  | Swatch Group AG | 0.00% | 1.74% | -1.74% |
| Swiss Life Holding AG | 5.63% | 3.02% | 2.60% |  | Swiss Prime Site AG | 0.00% | 1.61% | -1.61% |

* Interner Vergleichsindex : Wir verweisen auf die Angaben unter der Überschrift Interner Vergleichsindex in den Charakteristika/Disclaimern weiter unten Quellen : AXA Investment Managers - ICB per 31/08/2018
1Komplexe Begriffe werden in einem Glossar auf unserer Webseite www.axa-im.de > Dokumente erläutert.