Amundi Money Market Fund - Short Term (GBP) - XC

Transcription

1 30/11/2017 Key information (source : Amundi) Net Asset Value (NAV) : 1 ( GBP ) NAV and AUM as at : 30/11/2017 Assets Under Management (AUM) : 1, ( m illion GBP ) ISIN code : LU Bloomberg code : AMGBXCD LX Reuters code : LP SEDOL code : - Benchmark : UK SONIA CAPITALISED Investment Objective Rated AAAm by S&P, AAAmmf by Fitch and referenced by IMMFA, the sub-fund offers investors daily liquidity, limited risks and aims to outperform the UK SONIA index (minus fees applicable to each share class). The investment team seeks the best compromise between high performance and low risk. Risk & Reward Profile (SRRI) Lower risk, potentially lower rewards Higher risk, potentially higher rewards The SRRI represents the risk a nd return profile a s presented in the Key Investor Inform a tion Docum ent (KIID). The lowest ca tegory does not im ply tha t there is no risk. The SRRI is not guaranteed and may change over time. Returns 0.5 % 0.4 % 0.3 % 0.2 % % /16 01/17 02/17 03/17 04/17 05/17 06/17 07/17 08/17 09/17 10/17 11/17 Cumulative returns * YTD Benchmark Basis points spread 1 m onth 3 m onths 1 yea r 3 yea rs 5 years Since Since 30/12/ /10/ /08/ /11/ /11/ /11/ /07/ % 0.37% 0.27% 0.29% 0.40% 0.40% 0.41% Benchm a rk 0.23% 0.44% 0.29% 0.23% 0.36% 0.38% 0.39% Sprea d 0.05% -0.07% -0.02% 0.05% 0.04% 0.02% 0.02% Calendar year performance * % 0.47% 0.41% 0.41% - Benchm a rk 0.36% 0.46% 0.43% 0.43% - * Source : Amundi. Cumulative returns are calculated on a yearly basis on a 365 days (expressed with the round-off superior). The a bove results perta in to full 12-m onth period per ca lenda r yea r. All performances are calculated net income reinvested and net of all charges taken by the Sub-Fund. Past perform a nce is not a relia ble indica tor of future perform a nce. The va lue of investm ents m a y va ry upwards or downwards according to market conditions WAM and WAL in days WAM WAL 30/11/ /10/ /09/ /08/ /07/ /06/ /05/ /04/ /03/ /02/ /01/ /12/ WAL (Weighted Average Life) : credit duration in days WAM (Weighted Average Maturity) : modified duration in days Volatility 1 yea r 3 yea rs 5 yea rs volatility 0.01% 0.01% 0.01% Benchmark volatility 0.01% 0.02% 0.01% Volatility is a statistical indicator that measures an asset s variations around its average value. For example, market variations of +/- 1.5% per day correspond to a volatility of 25% per year. Fund statistics Modified duration 0.08 Average rating A+ Number of lines 71 Issuer number 39 Modified duration (in points) estimates a bond portfolio s percentage price change for 1% change in yield amundi.com

2 Patrick Simeon Head of Treasury Management Benoit Palliez manager Management commentary Monetary policy: On November 2, the Bank of England approved a 25bps rise in its Bank Rate to 0.50%. This rise, the first in ten years, had been foreseen by the markets. The MPC justified this rise by the need to bring inflation closer to the 2% target, by the very low unemployment and by the reduction in available production capacities. Inflation had risen to 3% in September and is expected to remain above the 2% mark due to depreciation of the British pound, whose level is dependent on the Brexit negotiations. For their part, the growth forecasts have been lowered. Nonetheless, several MPC members have called for additional monetary policy tightening over the coming two years. The Brexit negotiations have at last made substantial progress, with an agreement reached on the divorce bill. However, other stumbling blocks remain, such as the issue of the Irish borders, which could further weaken Theresa May (who relies on the Northern Ireland unionists to retain her majority). Investment policy: Liquidity: Instantaneous liquidity was provided by term deposits and overnight, tomorrow/next and weekly CDs. Overnight liquidity stands at 16.16% (1.59% UK Tbills) and one-week liquidity at 33.15% (10.37% SSA under three months). Investments maturing in less than three months accounted for 69.6% of the portfolio. Interest-rate risk The rise in interest rates, which had been amply foreseen by the markets, did not lead to any repricing of the interest-rate curve. The 3-month OIS swap rate therefore stayed at 0.46% while the one-year rate stood at 0.61%. The fund s relatively short WAM, particularly at the beginning of the month, enabled its performance to accompany the rise in the Bank Rate. Average life and average rating: The weighted average life (WAL) of this portfolio remains fairly stable at 75 days. The portfolio's average long-term rating is good, at A+. Issuers rated A-1+ account for more than half of the portfolio. The fund has an AAAm rating from Standard & Poor s. The sub-fund also benefits from Fitch s highest rating for money market funds: AAA-mmf. breakdown Principal lines in breakdown by maturity Ma turity ACOSS(AGCE CTL ORGAN SECU SOC) 3.71% 08/12/2017 SVENSKA HANDELSBANKEN AB 2.65% 21/12/2017 LLOYDS BANK PLC 2.65% 19/10/2018 STANDARD CHARTERED BANK 2.65% 19/03/2018 SBAB BANK AB 2.65% 12/02/2018 BNP PARIBAS 2.12% 23/02/2018 SOCIETE GENERALE 2.12% 06/02/2018 COUNCIL OF EUROPE DVPMT BK 2.12% 22/12/2017 MITSUBISHI CORP FIN PLC 2.12% 06/12/2017 TORONTO-DOMINION BANK/THE 2.12% 13/12/ days 8-30 days days days days days 6.62 % 8.31 % % % % % 0 % 5 % 10 % 15 % 20 % 25 % breakdown - Short term Rating : assets invested for one business day breakdown - Long term rating 60 % % % 40 % % % 20 % A1 (without repo) A1+ (Repo Callable) A1+ (without repo) 2.46 % 0 % 0.22 % AAA AA A Rating of the agency Standard & Poor's Median Rating calculated of the three agencies: Fitch, Moody's and Standard & Poor's

3 breakdown - Sector breakdown - Instrument Type % 2.47 % 5.02 % 1.59 % % % Financials Govies & agencies Corporate % Bonds Commercial Paper NEU CP Treasury Bills Countries / S ectors / Maturities matrix 0-1 month 1-3 months 3-6 months 6-12 months Total Euro Zone 10.41% 15.74% 8.45% 4.54% 39.15% Belgium % % Financials % % Finla nd 1.10% 1.59% % 3.53% Financials % % 2.43% Govies & agencies 1.10% % Fra nce 7.19% 10.06% 3.70% 1.58% 22.54% Financials 0% 10.06% 3.70% 1.58% 15.34% Govies & agencies 7.19% % Germ a ny 2.12% 2.48% 1.59% % Financials 1.59% 1.42% 1.59% % Govies & agencies 0.53% 1.06% % Luxem bourg % 2.11% Financials % 2.11% Netherla nds % % Financials % % Rest of the world 16.10% 12.84% 11.54% 5.81% 46.29% Austra lia % 1.58% 2.85% Financials % 1.58% 2.85% Ca na da 2.12% 0.22% 1.06% % Financials 2.12% 0.22% 1.06% % Ja pa n 0.21% 5.07% 1.06% % Financials 0.21% 2.65% % Govies & agencies % % Corporate % % New Zealand % % Financials % % Norwa y 1.01% % 2.59% Financials 1.01% % 2.59% Supra na tiona l 2.12% % Govies & agencies 2.12% % Sweden 5.31% 6.27% 2.64% % Financials 5.31% 6.27% 2.64% % Switzerla nd 0.21% 0.43% % Financials 0.21% 0.43% % United Kingdom 3.71% % 2.65% 9.01% Financials 2.12% % 2.65% 7.42% Govies & agencies 1.59% % United States 1.41% % % Financials % % Corporate 1.41% % O/N & repo 14.56% %

4 Long-Term ratings / maturity matrix AAA AA+ AA AA- A+ A Total 0-4 months 0.22% 3.22% 11.76% 14.95% 18.66% 18.34% 14.56% 81.72% 4-12 months % 6.65% 8.46% 1.06% % Tota l 0.22% 3.22% 13.87% 21.60% 27.12% 19.40% 14.56% 100% Information Fund structure Management Company Custodian UCITS under Luxembourg law Amundi Luxembourg SA CACEIS Bank, Luxembourg Branch Share-class inception date 16/07/2012 Share-class reference currency Type of shares ISIN code Bloomberg code Minimum first subscription / subsequent Frequency of NAV calculation GBP Distribution LU AMGBXCD LX GBP / 1 thousandth(s) of (a) share(s) Dealing times Orders received each day D day before 14:00 Entry charge (maximum) 0% 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) 0% Daily 0.03% IAT Ongoing charge 0.05% ( Estimated ) - 01/03/2017 Minimum recommended investment period Benchmark index performance record UCITS compliant Current/Forward price Redemption Date Subscription Value Date No 1 Day 16/07/2012: % UK SONIA (STERLING OVERNIGHT INTERBANK AVERAGE RATE) CAPITALISED UCITS Current price D D

5 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 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.