# Portfolio analysis
## Fund indicators

## Fund indicators

## Sector breakdown
10.01%
9.12%
8.78%
12%
7.67%
7.57%
7.00%
6.70%
6.50%
5.91%
10%
5.26%
5.24%
4.99%
3.74%
8%
3.55%
2.88%
6%
1.71%
1.00%
0.96%
0.88%
0.53%
0.00%
4%
2%
Basic Industry
Retail
Telecommunications
Media
Services
Capital Goods
Financial Services
Leisure
Utility
Healthcare
Automotive
Transportation
Banking
Energy
Technology &
Electronics
Real Estate
Sovereign
Consumer Goods
ABS
Not Classified
Cash
0%
Portfolio
47.19%
31.92%
14.08%

## Modified duration to worst breakdown	Years to maturity breakdown
50%
40%
30%
5.91%
20%
10%
Cash
Undetermined
0%
60%
48.60%
50%
25.90%
40%
10.24%
30%
5.91%
9.35%
0.00%
20%
0.00%
10%
0-1
1-3
3-5
5-7
Cash
0-1 year
1-3 years
3-5 years
5-7 years
Undetermined
0%
0.89%
Portfolio	Portfolio
Source(s): AXA Investment Managers as at 31/08/2018
| Portfolio analysis |  |
| --- | --- |
| Top 10 holdings |  |  |  |  |  |  |
| Issuer | Coupon rate | Maturity | Sector | Modified duration to worst | Rating | Weight |
| ZIGGO BOND CO | 7.125 | 15/05/24 | Media | 0.70 | B | 1.58% |
| BARCLAYS BANK PLC | 10.000 | 21/05/21 | Banking | 2.48 | BB | 1.52% |
| EIRCOM FINANCE DAC | 4.500 | 31/05/22 | Telecommunications | 0.75 | B | 1.51% |
| ARDAGH PKG FIN/HLDGS USA | 6.750 | 15/05/24 | Capital Goods | 0.70 | B | 1.51% |
| LINCOLN FINANCE LTD | 6.875 | 15/04/21 | Financial Services | 0.62 | B | 1.45% |
| IPD 3 BV | 4.500 | 15/07/22 | Technology & Electronics | 2.76 | B | 1.42% |
| TELECOM ITALIA SPA | 6.375 | 24/06/19 | Telecommunications | 0.81 | BB | 1.40% |
| THAMES WATER KEMBLE FINA | 7.750 | 01/04/19 | Utility | 0.57 | B | 1.40% |
| QUINTILES IMS INC | 3.500 | 15/10/24 | Healthcare | 2.99 | BB | 1.37% |
| JAGUAR LAND ROVER AUTOMO | 2.750 | 24/01/21 | Automotive | 2.37 | BB | 1.36% |
| Number of Holdings | 141 |  |  |  |  |  |

49.67%

## Rating breakdown
55%
50%
33.99%
45%
40%
35%
30%
25%
20%
5.09%
4.08%
5.91%
15%
1.27%
10%
5%
0%
BBB	BB	B	CCC	NR	Cash
Portfolio

## Currency breakdown
70%
60%
50%
40%
30%
20%
10%
0%
EUR	GBP	Other	Cash
Portfolio

## Country Breakdown
28.73%
33%
30%
27%
24%
21%
11.35%
18%
15%
7.42%
6.67%
5.97%
5.96%
5.88%
5.91%
12%
3.79%
3.49%
2.32%
2.07%
4.49%
9%
1.96%
1.47%
1.44%
1.07%
6%
3%
United
Kingdom
Luxemburg
Netherlands
Italy
France
United
States
Germany
Ireland
Sweden
Spain
Belgium
Greece
Mexico
Russia
South Africa
Other
Cash
0%
Portfolio
Source(s): AXA Investment Managers as at 31/08/2018

Translation (ENDE, 2018-08-31):
# Portfolioanalyse
## Merkmale des Portfolios1

## Merkmale des Portfolios1

## Sektorengewichtung (% des Portfolios)
10.01%
9.12%
8.78%
7.67%
7.57%
12%
7.00%
6.70%
6.50%
5.91%
10%
5.26%
5.24%
4.99%
3.74%
3.55%
8%
2.88%
1.71%
6%
1.00%
0.96%
0.88%
0.53%
0.00%
4%
2%
Basisindustrie
Einzelhandel
Telekommunikation
Media
Dienste
Investitionsgüter
Finanzdienstleistungen
Freizeit
Versorgungsbetr.
Gesundheitspflege
Automobil
Beförderung
Bankgeschäfte
Energie
Technol. und Elektr.
Regular Pfandbriefe
Staatgarantie
Verbraucher
ABS
Nicht Klassifiziert
Liquide Mittel
0%
Portfolio
47.19%

## Aufteilung nach Modified Duration to Worst1 (% des Portfolios)
50%
31.92%
40%

## Engagement nach Laufzeit (% des Portfolios)
48.60%
60%
50%
25.90%
40%
30%
14.08%
30%
20%
9.35%
10.24%
20%
5.91%
0.89%
0.00%
5.91%
0.00%
10%	10%
0%
Liquide Mittel
0-1	1-3	3-5	5-7	Nicht
definiert
Portfolio
0%
Liquide Mittel
0-1
Jahre
1-3
Jahre
Portfolio
3-5
Jahre
5-7
Jahre
Nicht definiert
Quellen : AXA Investment Managers per 31/08/2018
1Komplexe Begriffe werden in einem Glossar auf unserer Webseite www.axa-im.de > Dokumente erläutert.
| Portfolioanalyse |  |
| --- | --- |
| Die 10 Hauptpositionen |  |  |  |  |  |  |
| Emittent | Ausschüttung | Fälligkeit | Sektor | Modified Duration to Worst | Rating | Gewichtung |
| ZIGGO BOND CO | 7.125 | 15/05/24 | Media | 0.70 | B | 1.58% |
| BARCLAYS BANK PLC | 10.000 | 21/05/21 | Bankgeschäfte | 2.48 | BB | 1.52% |
| EIRCOM FINANCE DAC | 4.500 | 31/05/22 | Telekommunikation | 0.75 | B | 1.51% |
| ARDAGH PKG FIN/HLDGS USA | 6.750 | 15/05/24 | Investitionsgüter | 0.70 | B | 1.51% |
| LINCOLN FINANCE LTD | 6.875 | 15/04/21 | inanzdienstleistunge | 0.62 | B | 1.45% |
| IPD 3 BV | 4.500 | 15/07/22 | Technol. und Elektr. | 2.76 | B | 1.42% |
| TELECOM ITALIA SPA | 6.375 | 24/06/19 | Telekommunikation | 0.81 | BB | 1.40% |
| THAMES WATER KEMBLE FINA | 7.750 | 01/04/19 | Versorgungsbetr. | 0.57 | B | 1.40% |
| QUINTILES IMS INC | 3.500 | 15/10/24 | Gesundheitspflege | 2.99 | BB | 1.37% |
| JAGUAR LAND ROVER AUTOMO | 2.750 | 24/01/21 | Automobil | 2.37 | BB | 1.36% |
| Anzahl Positionen | 141 |  |  |  |  |  |

49.67%

## Engagement nach Rating (% des Portfolios)
55%
50%
33.99%
45%
40%
35%
30%
25%
20%
5.09%
4.08%
5.91%
15%
1.27%
10%
5%
0%
BBB	BB	B	CCC	NR	Liquide
Mittel
Portfolio

## Engagement nach Währung (% des Portfolios)
70%
60%
50%
40%
30%
20%
10%
0%
EUR	GBP	Sonstige	Liquide Mittel
Portfolio

## Länderallokation (% des Portfolios)
28.73%
33%
30%
27%
24%
21%
11.35%
18%
15%
7.42%
6.67%
5.97%
5.96%
5.88%
5.91%
12%
3.79%
3.49%
2.32%
2.07%
1.96%
4.49%
9%
1.47%
1.44%
1.07%
6%
3%
Großbritannien
Luxemburg
Niederlande
Italien
Frankreich
Vereinigten
Staaten
Deutschland
Irland
Schweden
Spanien
Belgien
Griechenland
Mexiko
Russland
Südafrika
Sonstige
Liquide Mittel
0%
Portfolio
Quellen : AXA Investment Managers per 31/08/2018