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AMUNDI INDEX J.P. MORGAN GBI GLOBAL GOVIES - IE
MONTHLY
REPORT
30/06/2017
BOND ■
Key information (source : Amundi)
Investment Objective
Risk & Reward Profile (S RRI)
The objective of this Sub-Fund is to track the
performance of J.P. Morgan Government Bond Index
Global (GBI Global), and to minimize the tracking error
between the net asset value of the Sub-Fund and the
performance of the Index. The Sub-Fund aims to achieve
a level of tracking error of the Sub-Fund and its index
that will not normally exceed 1%.
Net Asset Value (NAV) : 9 2 2 .4 9 ( EU R )
NAV and AUM as at : 3 0 /0 6 /2 0 1 7
Assets Under Management (AUM) :
6 3 5 .3 5 ( m i l l i on EU R )
ISIN code : (A ) L U 1 4 3 5 1 6 2 0 2 6
(D) L U 1 4 3 5 1 6 2 2 9 9
Bloomberg code : A MGRIEC L X
Benchmark : JP M GBI GL OBA L A L L MA TS
Returns
Performance (VL) *
102.5
A
B
100
97.5
95
Benchmark
06
/17
03
/17
09
/16
12
/16
92.5
Portfolio
A : Simulation effectuée sur la base des performances réalisées entre le 25 Septembre 2008 et le 30 Octobre 2016 par le
compartiment luxembourgeois « INDEX GLOBAL BOND» géré par Amundi Asset Management et absorbé par AMUNDI INDEX
J.P. MORGAN GBI GLOBAL GOVIES le 31 Octobre 2016.
B : Performance of the Sub-Fund since its launch date.
Cumulativ e returns *
Since
P ort f ol i o
Ben ch m a rk
S prea d
Y TD
30/12/2016
-3.83%
-3.76%
-0.07%
1 m on t h
31/05/2017
-1.65%
-1.63%
-0.02%
3 m on t h s
31/03/2017
-3.81%
-3.80%
-0.02%
1 yea r
-
3 yea rs
-
5 yea rs
-
S i n ce
12/07/2016
-7.00%
-6.80%
-0.20%
Calend ar y ear p erformance*
P ort f ol i o
Ben ch m a rk
S prea d
2016
-
2015
-
2014
-
2013
-
2012
-
* Source : Amundi. The above cover complete periods of 12 months for each calendar year. P a st perf orm a n ce i s n o
predi ct or of cu rren t a n d f u t u re resu l t s a n d does n ot gu a ra n t ee f u t u re yi el d . Any losses or gains do not take
into consideration any costs, commissions and fees incurred by the investor in the issue and buyout of the shares (e.g.
taxes, brokerage fees or other commissions deducted by the financial intermediary). If performance is calculated in a
currency other than the euro, any losses or gains generated can thereby be affected by exchange rate fluctuations (both
upward and downward). The discrepancy accounts for the performance difference between the portfolio and the index.
■ www.amundi.com
This material is s olely for the attention of “profes s ional” inves tors .
Lower risk, potentially lower rewards
Higher risk, potentially higher rewards
Th e S RRI represen t s t h e ri sk a n d ret u rn profil e a s
presen t ed i n t h e Key In vest or In f orm a t i on
Docu m en t (KIID) . Th e l owest ca t egory does n ot
i m pl y t h a t t h ere i s n o ri sk. Th e S RRI i s n ot
gu a ra n t eed a n d m a y ch a n ge over t i m e.
AMUNDI INDEX J.P. MORGAN GBI GLOBAL GOVIES - IE
MONTHLY
REPORT
30/ 06/ 2017
S t éph a n i e P l ess
Fa di l H a n n a n e
Head of fixed income index
management
Portfolio manager
Management commentary
US growth (again revised upward to 1.4% in Q1) is expected to continue to strengthen, underpinned mainly by household consumption and exports, prompting the Fed to raise its key
interest rates for the second time this year.
In the Eurozone, everything points to continuing strong growth as indicated by the European Economic Sentiment indicator which reached a ten-year high in June. The economic recovery
even appears to spilling over into the inflation figures with core inflation up to 1.1% (versus 0.9% in May). The general shift in central bank policies triggered a sudden rise in yields and a
steepening of the yield curve. It now seems certain that the ECB will reduce its securities purchases in 2018 and that the Fed will reduce its balance sheet and continue to raise interest
rates, particularly to ensure financial stability.
In these conditions, the German two-year yield rose from -0.73% to -0.56% and the ten-year yield from 0.29% to 0.44%. Moreover, the latest political developments in Italy are reassuring
for the markets and the prospect of early elections is fading. Peripheral country spreads therefore contracted, with Italy's 10-year spread down from 190bps to 172bps and Spain’s down
from 126bps to 112bps. Lastly, the US/German 10-year spread narrowed by 5bps to 186bps.
This portfolio is indexed to the JPM GBI Global Traded Index Euro Hedged. We are keeping the relative exposure in sensitivity between the portfolio and its index as low as possible by
investing in a limited number of securities, thus ensuring minimum risk.
Portfolio Data
Portfolio Ind icators
P ort f ol i o
Modi f i ed du ra t i on
A vera ge ra t i n g
Y i el d To Ma t u ri t y
7.78
A+
1.09%
The modified duration (expressed in basis points) estimates the price variation of an obligation based on a variation of 1% of the rates.
Holdings : 5 8 0
Portfolio B reakdown
By maturity
By rating (s ource : Amund i)
30%
60%
51.65%
25.09%
21.11%
20%
40%
12.49%
10.52%
10.03%
10%
9.64%
20%
16.46%
6.65%
20.20%
11.30%
4.47%
0%
0.39%
0%
Short-term
2Y
5Y
7Y
10Y
Portfolio
15Y
20Y
30Y
AAA
AA
A
Portfolio
Amundi As s et Management, Public Limited Company with a capital of 1 082 262 605 € - AMF approved Portfolio
Management Company- GP number 04000036 - Corporate addres s : 90, Boulevard Pas teur - 75015 Paris - France 437
574 452 RCS Paris
This material is s olely for the attention of “profes s ional” inves tors .
BBB
Others
AMUNDI INDEX J.P. MORGAN GBI GLOBAL GOVIES - IE
MONTHLY
REPORT
30/ 06/ 2017
By is s uer
By country (s ource : Amund i)
UnitedStates
40.71%
Japan
Sovereignex-EMU
71.91%
20.20%
France
7.32%
Italy
7.11%
UnitedKingdom
6.06%
Germany
5.50%
Spain
Belgium
SovereignEMU
27.70%
Netherlands
1.67%
Australia
1.62%
EuroZone
1.53%
Canada
1.34%
Others
0%
20%
40%
Portfolio
60%
80%
4.19%
1.90%
0.85%
0%
10%
20%
30%
40%
50%
Portfolio
Information
Fund structure
UCITS under Luxembourg law
Fund Manager
Amundi Luxembourg SA
Custodian
CACEIS Bank, Luxembourg Branch
Share-class inception date
29/06/2016
Share-class reference currency
EUR
Classification
-
Type of shares
(A) Accumulation
(D) Distribution
ISIN code
(A) LU1435162026
(D) LU1435162299
Bloomberg code
AMGRIEC LX
Minimum first subscription / subsequent
500000 Equivalent in EUR of USD / 1 thousandth(s) of (a) share(s)
Frequency of NAV calculation
Daily
Dealing times
Orders received each day D day before 14:00
Entry charge (maximum)
1.50%
Maximum direct annual management fees including taxes
Maximum indirect annual management fees including taxes
Performance fees
Maximum performance fees rate (% per year)
Exit charge (maximum)
Ongoing charge
Minimum recommended investment period
Benchmark index performance record
UCITS compliant
Current/Forward price
0.10% IAT
No
0%
0.20% ( Estimated ) - 29/06/2016
4 years
08/07/2016: 100.00% JPM GBI GLOBAL ALL MATS
25/09/2008: 100.00% JPM GBI GLOBAL TRADED INDEX HEDGED EURO
UCITS
Forward pricing
Redemption Date
D+4
Subscription Value Date
D+4
Amundi As s et Management, Public Limited Company with a capital of 1 082 262 605 € - AMF approved Portfolio
Management Company- GP number 04000036 - Corporate addres s : 90, Boulevard Pas teur - 75015 Paris - France 437
574 452 RCS Paris
This material is s olely for the attention of “profes s ional” inves tors .
AMUNDI INDEX J.P. MORGAN GBI GLOBAL GOVIES - IE
MONTHLY
REPORT
30/ 06/ 2017
Legal information
This document is provided for information purposes only and does not constitute a recommendation, a solicitation, an offer, advice or an invitation to purchase or sell any units or shares
of the fund (FCP), collective employee fund (FCPE), SICAV, SICAV sub-fund or SICAV investing primarily in real estate (SPPICAV) (collectively, “the Funds”) described herein and should in
no case be interpreted as such. This document is not a contract or commitment of any form. Information contained in this document may be altered without notice. The management
company accepts no liability whatsoever, whether direct or indirect, that may arise from the use of information contained in this document. The management company can in no way be
held responsible for any decision or investment made on the basis of information contained in this document. The information contained in this document is disclosed to you on a
confidential basis and shall not be copied, reproduced, modified, translated or distributed without the prior written approval of the management company, to any third person or entity in
any country or jurisdiction which would subject the management company or any of the funds, to any registration requirements within these jurisdictions or where it might be considered
as unlawful. Not all of the funds are systematically registered in all jurisdictions of all investors. Investment involves risk. The past performances shown in this document, and simulations
based on these, do not guarantee future results, nor are they reliable indicators of future performance. The value of an investment in units or shares of the funds may fluctuate according to
market conditions and cause the value of an investment to go up or down. As a result, fund investors may lose all or part of the capital originally invested. All potential investors in the
funds are advised to ascertain whether such an investment is compatible with the laws to which they are subject and the tax implications of such an investment prior to investing, and to
familiarise themselves with the legal documents in force for each fund. Unless stated otherwise, the management company is the source of the data in this document. Unless stated
otherwise, the data in this document are correct as at the date specified under MONTHLY REPORT at the beginning of this document.
This document is designed exclusively for institutional, professional, qualified or sophisticated investors and distributors. It is not meant for the general public or private clients of any
jurisdiction or those qualified as 'US Persons'. Approved investors in regard to the European Union are those which are defined as "Professional" investors in Directive 2004/39/EC of 21
April 2004 "MiFID" or, as the case may be, as defined under each local legislation and, insofar as the offer in Switzerland is concerned, "qualified investors" as set forth in the federal Law
on Collective Investments (LPCC), the Ordinance on collective investments of 22 November 2006 (OPCC) and the FINMA 08/8 Circular regarding the legislation on collective investments
of 20 November 2008. This document shall not, under any circumstance, be sent within the European Union to non "Professional" investors as defined by the MFI or under each local
legislation, or in Switzerland to those investors which are not defined as "qualified investors" in the applicable law and regulations.
Amundi As s et Management, Public Limited Company with a capital of 1 082 262 605 € - AMF approved Portfolio
Management Company- GP number 04000036 - Corporate addres s : 90, Boulevard Pas teur - 75015 Paris - France 437
574 452 RCS Paris
This material is s olely for the attention of “profes s ional” inves tors .