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MONTSÉGUR PATRIMOINE  Montségur Patrimoine Is a Fund Invested in a Selection of High Dividend Or European Low High Growth Stocks

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MONTSÉGUR PATRIMOINE  Montségur Patrimoine Is a Fund Invested in a Selection of High Dividend Or European Low High Growth Stocks ASSET MANAGEMENT COMPANY FACTSHEET I SEPTEMBER 2020 Risk and return profile MONTSÉGUR PATRIMOINE Montségur Patrimoine is a fund invested in a selection of high dividend or European Low High growth stocks. The balance of its assets is allocated to European money market or bond products, providing a cushion against sharp market declines in return for a lower expected return. TYPE OF PRODUCT: MIXTE In a context of sovereign rates remaining at low points despite central banks integrating more flexible inflation rates, we have opportunely ISIN code class A : FR0010121137 bought Air France perpetual 6.25% providing a 0.96% yield due one Recommended investment horizon: at least 2 years, week (anticipated reimbursement). Daily valuation Commentary Launch date 11/11/04 “Green” stocks such as Air Liquide, Alstom or EDP, the specialist in Portfolio manager : Marine MICHEL cryogenic membranes intended for the transport and storage of LNG, Investment committee: François CHAULET GTT, has shown strong confidence in its prospects by highlighting in particular the diversification of its orders, both in terms of facility cate- Investment Policy gories and geographies. Recognizing the expertise and technological While questions about the pace and form of the economic recovery leadership of the engineering company, the United States Department are growing, against a backdrop of intensifying Covid-19 infections and of Defense called on GTT to improve the bulk fuel storage tanks posi- political unrest, the oscillation of the equity markets within a restricted tioned at their base near Honolulu. quotation range over this quarter reflects a clear wait-and-see attitude (only 7 % variation between the high and low points of the Stoxx 600 since June 1). CHIFFRES CLÉS Within our stock selection, which accounts for 30% of Montségur Performances Indice de référence* FONDS Patrimoine’s assets, the top of the charts were characterized by ex- Monthly Performance - 0,42 % - 1,23 % tremely rich news (Lagardère was boosted by the evolution of its round table and sold at €20, Unilever relaunched the refocusing of its Performance 2020 (YTD) - 3,12 % - 7,61 % structure on a single head office, Scor and Sika reaffirmed convincing 1 Y performance - 1,42 % - 7,18 % strategic directions). 3 Y performances + 0,45 % - 10,12 % In trend, the least popular sectors in recent months have remained in 5 Y performances + 5,70 % - 5,53 % the background (real estate, oil and gas, financials). Sika was reinforced NAV as of 30-09-2020 - 124,76 € twice before a well-received «Investor Presentation» and the Siemens Average portfolio yield + 1,39 % Energy shares obtained in the context of its spin-off from Siemens *30 % STOXX® Europe 600 Net Return (code : SXXR ou ISIN : EU0009658210) + 70 % Eonia capitalisé have been kept. The performances presented are net of expenses. 1 YEAR PERFORMANCES ASSET ALLOCATION Montségur Patrimoine - 7,18 % Comparison index* - 1,42 % 4% 30,6% 2% 0% -2% -4% -6% -8% -10% 69,4% -12% sept.-19 déc.-19 mars-20 juin-20 sept.-20 Equity 30,6 % Change in the fund as at 01/01/2018. Past performance is no garantee of future results Interest rate and liquidity products 69,4 % EQUITY PORTFOLIO ANALYSIS SALES BREAKDOWN 5,9 % 18,0 18,1 11,2 % 23,1 % 4,3 % 4,7 % 3,1 % Portugal 1% Belgium 1% United Kingdom 2% Free cash-flow yield Netherlands 4% PER 12 M Earnings growth Dividend Yield estimates Germany 8% Switzerland 15% Montségur Patrimoine France 69% EURO STOXX 50 0% 20% 40% 60% 80% 16 ASSET MANAGEMENT COMPANY FACTSHEET I SEPTEMBER 2020 MAJOR CONTRIBUTORS’ PERFORMANCES RISK ANALYSIS LAGARDERE 0,07% RUBIS - 0,21% VOLATILITY 1 Y 6,9 % UNILEVER 0,07% ALSTOM - 0,17% BETA 1 Y 0,9 GTT 0,05% TOTAL - 0,14% ALPHA 1 Y -5,9 % SIKA 0,03% BNP PARIBAS - 0,13% DURATION LIFE AVERAGE POCKET RATE 1,1 year SCOR 0,03% ALLIANZ - 0,12% POCKET SENSITIVITY RATE 1,0 FUND HOLDINGS Security name Sector (ICB) Quantity Price (€) Perf. 1 M Market Value % NESTLE Food & Beverage 3 715 101,51 € + 0,8 % 377 104 1,9 % ALSTOM Industrial Goods & Services 8 400 42,52 € - 8,8 % 357 168 1,8 % VIVENDI Media 13 400 23,80 € + 0,0 % 318 920 1,6 % SANOFI Health Care 3 700 85,33 € + 0,5 % 315 721 1,6 % AIR LIQUIDE Chemicals 2 300 135,50 € - 2,6 % 311 650 1,6 % SIKA Construction & Materials 1 400 210,09 € + 4,5 % 294 128 1,5 % GAZTRANSPORT & TECHNIGAZ Oil & Gas 3 540 81,55 € + 3,4 % 288 687 1,5 % RUBIS Oil & Gas 7 940 34,24 € - 13,5 % 271 866 1,4 % ROCHE Health Care 875 292,58 € - 0,1 % 256 005 1,3 % UNILEVER Personal & Household Goods 4 660 51,50 € + 6,2 % 239 990 1,2 % ENGIE Utilities 20 000 11,42 € - 2,0 % 228 400 1,1 % NEXITY Real Estate 8 200 25,98 € - 9,7 % 213 036 1,1 % ALLIANZ Insurance 1 300 163,62 € - 9,9 % 212 706 1,1 % TOTAL Oil & Gas 7 165 29,20 € - 11,8 % 209 218 1,1 % SIEMENS Industrial Goods & Services 1 800 107,88 € - 6,7 % 194 184 1,0 % AXA Insurance 12 000 15,78 € - 7,6 % 189 312 1,0 % VINCI Construction & Materials 2 641 71,52 € - 9,0 % 188 884 1,0 % MICHELIN Automobiles & Parts 1 700 91,72 € - 3,1 % 155 924 0,8 % LVMH Personal & Household Goods 390 399,40 € + 1,7 % 155 766 0,8 % ORANGE Telecommunications 17 000 8,88 € - 4,8 % 151 028 0,8 % BNP PARIBAS Banks 4 650 30,98 € - 15,3 % 144 034 0,7 % VEOLIA ENVIRONNEMENT Utilities 7 000 18,42 € - 8,8 % 128 940 0,6 % SCOR Insurance 5 000 23,66 € + 5,5 % 118 300 0,6 % HERMES Personal & Household Goods 160 736,20 € + 2,3 % 117 792 0,6 % ORPEA Health Care 1 200 97,06 € - 3,6 % 116 472 0,6 % ICADE Real Estate 2 400 47,92 € - 11,7 % 115 008 0,6 % ROYAL DUTCH SHELL Oil & Gas 9 000 10,78 € - 13,6 % 97 002 0,5 % BMW Automobiles & Parts 1 300 61,99 € + 3,1 % 80 587 0,4 % AB INBEV Food & Beverage 1 600 46,23 € - 5,3 % 73 960 0,4 % KLEPIERRE Real Estate 5 860 11,99 € - 13,1 % 70 232 0,4 % EDP-ENERGIAS DE PORTUGAL Utilities 14 105 4,20 € - 1,1 % 59 170 0,3 % SIEMENS ENERGY Industrial Goods & Services 900 23,00 € + 8,44 % 20 700 0,1 % Total Equity 6 071 895 30,6 % BOND HOLDINGS Security Name Maturity Market value % Security Name Maturity Market value % OBL AIR FRANCE TV 01/10/2020 424 020 3,1 % OBL BOLLORE 2,875% 29/07/2021 101 555 0,7 % OBL BPCE 3,55% 08/10/2020 187 306 1,4 % OBL THALES 2,15% 23/09/2021 507 042 3,7 % OBL INTESA SANPAOLO 5% 17/10/2020 336 144 2,4 % OBL LVMH 1% 24/09/2021 403 860 2,9 % OBL JC DECAUX 24/10/2020 499 925 3,6 % OBL ILIAD 0,625% 25/11/2021 301 613 2,2 % OBL RCI BQUE 1,375% 17/11/2020 202 700 1,5 % OBL NATIXIS TV 15/12/2021 499 573 3,6 % OBL BPCE 0% 17/12/2020 437 561 3,2 % OBL PRYSMIAN 2,5% 11/04/2022 311 033 2,3 % BT FAURECIA 12/01/2021 599 988 4,3 % OBL ICADE 1,875% 14/09/2022 721 381 5,2 % OBL VERITAS 3,125% 21/01/2021 205 805 1,5 % OBL ILIAD 2,125% 05/12/2022 311 095 2,3 % OBL RADIAN 4,55% 28/01/2021 145 643 1,1 % OBL CREDIT AGRICOLE TV 06/03/2023 401 825 2,9 % BT VICAT 03/02/2021 400 009 2,9 % OBL BPCE TV 23/03/2023 400 544 2,9 % OBL FIAT CHRYSLER 4,75% 22/03/2021 522 333 3,8 % OBL TIKEHAU CAP. 3% 27/11/2023 525 535 3,8 % OBL ORANO 3,5% 23/03/2021 103 325 0,7 % OBL ORPEA 2,2% 15/12/2024 297 215 2,2 % OBL CARREFOUR TV 20/04/2021 400 598 2,9 % RENAULT TP 208 630 1,5 % OBL RADIAN 5,15% 17/06/2021 809 576 5,9 % Total Bonds and liquidity 13 796 898 69,4 % OBL CHRISTIAN DIOR 24/06/2021 502 517 3,6 % RENAULT TP TOTAL NET ASSET 19 868 793 100,0 % OBL LCL 4,4% 13/07/2021 681 597 4,9 % BT : Commercial paper - CD : Certifi cate of Deposit - OBL : Bond Perpetual bond : bond with no maturity date that can be redeemed at a specifi c future date *Average duration and sensivity based on managers’ assumptions Average duration based on the longest maturities (perpetual bond included : 4.5 years) This document is for information purpose only and does not constitute an offer to subscribe for any security. Figures used in this factsheet have been obtained from reliable sources, but cannot yet be guaranteed. 17 For further informations, please refer to the KIID (Key Investor Information Document) available on the website www.montsegurfinance.com.
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