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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 .