# Performance & Risk
## Performance Evolution (EUR)
% of AUM covered by ESG absolute rating: Portfolio = 85.3% (not meaningful for coverage below 50%)
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114
111
108
105
102
99
96
28/09/18
30/03/19
30/09/19
30/03/20
30/09/20
30/03/21 30/09/21
Portfolio* (9.79%)
Data is rebased to 100 by AXA IM on the graph start date.
Past performance is not a reliable indicator of future results. Performance calculations are net of fees, based on the reinvestment of dividends. The benchmark, when there is one could be calculated on the basis of net or gross dividend. Please refer to the prospectus for more information.
| Risk Analysis |  |
| --- | --- |
|  | 1Y | 3Y | 5Y | Launch |
| Portfolio Volatility* (%) | 2.22 | 4.43 | 3.65 | 3.36 |
| Sharpe Ratio | 0.58 | 0.97 | 0.72 | 0.93 |
| Rolling Performance (%) |  |  |  |  |
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Launch |
| Portfolio* | -1.39 | -1.02 | -0.97 | -1.69 | 9.79 | 7.66 | 0.08 | 3.39 | 6.11 | -3.35 | 1.46 | 13.92 |
| Annual Calendar Performance (%) |
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Portfolio* | 4.59 | 7.13 | -3.37 | 2.69 | 3.68 | - | - | - | - | - |

Past performance is not a reliable indicator of future results. Performance calculations are net of fees, based on the reinvestment of dividends. The benchmark, when there is one could be calculated on the basis of net or gross dividend. Please refer to the prospectus for more information.
| Portfolio Analysis |  |
| --- | --- |
| Top 10 Holdings |
| Name | Weighting (%) | Issuer country | Mod. Duration | Contribution |
| US Treasury Note 0.125% 08/31/2023 | 3.07 | United States | 1.9 | 0.06 |
| Chong Hing Bank Ltd VAR 07/26/2027 | 1.86 | China | 0.8 | 0.01 |
| BOC Aviation Pte Ltd 3.25% 04/29/2025 | 1.73 | China | 3.3 | 0.06 |
| Gemdale Ever Prosperity Inv Ltd 4.95% 08/12/2024 | 1.61 | China | 2.6 | 0.04 |
| Nanyang Commercial Bank Ltd VAR PERP | 1.58 | China | 0.6 | 0.01 |
| Minor International PCL VAR PERP | 1.58 | Thailand | 1.7 | 0.03 |
| Airport Authority Hong Kong VAR PERP | 1.52 | Hong Kong | 4.2 | 0.06 |
| Singapore Airlines Ltd 3% 07/20/2026 | 1.48 | Singapore | 4.4 | 0.06 |
| CAS Capital No 1 Ltd VAR PERP | 1.47 | Hong Kong | 4.3 | 0.06 |
| Saudi Government Intl Bond 2.9% 10/22/2025 | 1.44 | Saudi Arabia | 3.8 | 0.05 |
| Total (%) | 17.34 |  |  |  |


## Sector Breakdown (%)	Contribution to duration by sector
Portfolio
Industrials	46.32
Financial	31.79
Quasi & Foreign Gvt	5.76
Utility	5.61
Sovereign	3.01
Other	0.16
Cash	7.35
1.2
1.0
0.8
0.6
0.4
0.2
0.0
Industrials
Financial
Quasi &
Foreign Gvt
Utility
Sovereign
-0.2
Port.	1.0	0.9	0.2	0.2	-0.1

## Geographical Breakdown (%)	Contribution to Duration by Geography
Portfolio
China	41.79
Hong Kong	6.84
Thailand	5.62
India	5.54
United States	4.41
Singapore	4.23
South Korea	4.20
Malaysia	3.81
Cayman Islands	3.01
Indonesia	2.92
Other	10.28
Cash	7.35
1.0
0.8
0.6
0.4
0.2
China
India
Hong Kong Thailand
Singapore
South Korea Malaysia
Indonesia
Qatar
Other
0.0
Port. 0.9	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.2

## Maturity Breakdown (%)
50
40
30
20
10
0	Cash	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years
Portfolio	7.35	14.56	29.77	38.15	6.37	3.79

## Rating Breakdown (%)
35
30
25
20
15
10
5
0	AAA	AA	A	BBB	BB	B	NR	Cash
Portfolio	3.46	2.67	16.34	27.34	30.05	7.59	5.20	7.35

## Currency Breakdown (%)
120
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100
80
60
40
20
0
USD	CNY	INR
Portfolio	99.11	0.67	0.22

Translation (ENDE, 2021-09-30):
# Wertentwicklung & Risiken
Wertentwicklung (EUR)
% des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 85.3% (nicht bedeutend bei einer Abdeckung von weniger als 50
%)
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114
111
108
105
102
99
96
28/09/18
30/03/19
30/09/19
30/03/20
30/09/20
30/03/21 30/09/21
Portfolio* (9.79%)
Die Daten von AXA IM sind auf der Basis von 100 zum Anfangsdatum der Grafik angegeben.
Die Wertentwicklung in der Vergangenheit ist kein zuverlässiger Indikator für zukünftige Ergebnisse. Performanceberechnungen verstehen sich nach Abzug von Gebühren, bei Wiederanlage von Dividenden. Sofern eine Benchmark angegeben ist, könnte sie auf der Basis von Netto- oder Bruttodividenden berechnet sein. Weitere Informationen entnehmen Sie bitte dem Fondsprospekt.
| Risikoanalyse |  |
| --- | --- |
|  | 1J | 3J | 5J | Auflage |
| Portfolio Volatilität* (%) | 2.22 | 4.43 | 3.65 | 3.36 |
| Sharpe Ratio | 0.58 | 0.97 | 0.72 | 0.93 |
| Wertentwicklung (Brutto, Netto in %) |  |  |  |  |

9
6
3
0
-3
|  | 30/09/2016 - | 30/09/2017 - | 30/09/2018 - | 30/09/2019 - | 30/09/2020 - |  |
| --- | --- | --- | --- | --- | --- | --- |
| 30/09/2017 | 30/09/2018 | 30/09/2019 | 30/09/2020 | 30/09/2021 |  |
|  | Brutto-Wertentwicklung | 1.46 | -3.35 | 6.11 | 3.39 | 0.08 |  |
|  | Netto-Wertentwicklung | 1.46 | -3.35 | 6.11 | 3.39 | 0.08 |  |

-6
Berechnung nach BVI-Wertermittlungsstatistik (siehe Erläuterung unter 'Wichtige Hinweise')

## Rollierende Wertentwicklung (%)
|  | 1M | 3M | 6M | YTD | 3J | 5J | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Auflage |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.39 | -1.02 | -0.97 | -1.69 | 9.79 | 7.66 | 0.08 | 3.39 | 6.11 | -3.35 | 1.46 | 13.92 |

Wertentwicklung im Kalenderjahr (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 4.59 | 7.13 | -3.37 | 2.69 | 3.68 | - | - | - | - | - |

Die Wertentwicklung in der Vergangenheit ist kein zuverlässiger Indikator für zukünftige Ergebnisse. Performanceberechnungen verstehen sich nach Abzug von Gebühren, bei Wiederanlage von Dividenden. Sofern eine Benchmark angegeben ist, könnte sie auf der Basis von Netto- oder Bruttodividenden berechnet sein. Weitere Informationen entnehmen Sie bitte dem Fondsprospekt.
| Portfolioanalyse |  |
| --- | --- |
| Top 10 Positionen |
| Name | Gewichtung (%) | Investiert in | Mod. Duration | Beitrag |
| US Treasury Note 0.125% 08/31/2023 | 3.07 | Vereinigte Staaten Von Amerika | 1.9 | 0.06 |
| Chong Hing Bank Ltd VAR 07/26/2027 | 1.86 | China | 0.8 | 0.01 |
| BOC Aviation Pte Ltd 3.25% 04/29/2025 | 1.73 | China | 3.3 | 0.06 |
| Gemdale Ever Prosperity Inv Ltd 4.95% 08/12/2024 | 1.61 | China | 2.6 | 0.04 |
| Nanyang Commercial Bank Ltd VAR PERP | 1.58 | China | 0.6 | 0.01 |
| Minor International PCL VAR PERP | 1.58 | Thailand | 1.7 | 0.03 |
| Airport Authority Hong Kong VAR PERP | 1.52 | Hong-Kong | 4.2 | 0.06 |
| Singapore Airlines Ltd 3% 07/20/2026 | 1.48 | Singapur | 4.4 | 0.06 |
| CAS Capital No 1 Ltd VAR PERP | 1.47 | Hong-Kong | 4.3 | 0.06 |
| Saudi Government Intl Bond 2.9% 10/22/2025 | 1.44 | Saudi Arabien | 3.8 | 0.05 |
| Summe (%) | 17.34 |  |  |  |

| Sektorengewichtung (%) |  |
| --- | --- |
|  | Portfolio |
| Industrie | 46.32 |
| Finanzen | 31.79 |
| Quasi & Foreign Gvt | 5.76 |
| Versorgungsbetr. | 5.61 |
| Sovereign | 3.01 |


## Beitrag zur Duration nach Sektor
Sonstige	0.16
Liquide Mittel	7.35
1.2
0.9
0.6
0.3
0.0
Industrie
Finanzen
Quasi & Foreign
Gvt
Versorgungsbetr.
Sovereign
-0.3
Port.	1.0	0.9	0.2	0.2	-0.1

## Geographische Ausrichtung (%)	Beitrag zur Duration nach Land
Portfolio
China	41.79
Hong-Kong	6.84
Thailand	5.62
Indien	5.54
Vereinigte Staaten Von Amerika	4.41
Singapur	4.23
1.0
0.8
0.6
0.4
0.2
China
Indien
Hong-Kong
Thailand
Singapur
Südkorea
Malaysia
Indonesien
Qatar
Sonstige
0.0
| Südkorea | 4.20 |  |
| --- | --- | --- |
| Malaysia | 3.81 |
| Cayman Islands | 3.01 |  | Port. | 0.9	0.2 | 0.2 | 0.2	0.1	0.1 | 0.1 | 0.1	0.1	0.2 |
| Indonesien | 2.92 |  |
| Sonstige | 10.28 |
| Liquide Mittel | 7.35 |
| Engagement nach Laufzeit (%) |  |

50
40
30
20
10
0	Liquide Mittel	0-1 Jahre	1-3 Jahre	3-5 Jahre	5-7 Jahre	7-10 Jahre
Portfolio	7.35	14.56	29.77	38.15	6.37	3.79

## Engagement nach Rating (%)
35
30
25
20
15
10
5
0	AAA	AA	A	BBB	BB	B	NR	Liquide Mittel
Portfolio	3.46	2.67	16.34	27.34	30.05	7.59	5.20	7.35

## Engagement nach Währung (%)
120
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |

100
80
60
40
20
0
USD	CNY	INR
Portfolio	99.11	0.67	0.22