| Asset Allocation Strategy |
| for a "Balanced" TAA portfolio |
| |
Portfolio split
|
Reference structure
|
SSgA France Opinion
|
| Equities |
54.4% |
50.8% |
+ |
overweighted |
| Real Estate |
2.0% |
4.3% |
- |
underweighted |
| Bonds |
34.1% |
30.3% |
+ |
overweighted |
| Cash |
6.7% |
11.8% |
- |
underweighted |
| Commodities |
2.7% |
2.8% |
- |
underweighted |
|
| Geographical Allocation Strategy |
| for a "100% equity" portfolio |
| |
Portfolio split
|
Reference structure
|
SSgA France Opinion
|
| USA/Canada |
26.2% |
26.3% |
- |
underweighted |
| Euroland |
24.5% |
25.2% |
- |
underweighted |
| Europe ex Euroland |
24.2% |
20.7% |
+ |
overweighted |
| Japan |
7.9% |
8.2% |
- |
underweighted |
| Rest of Asia (Dev) |
3.5% |
4.6% |
- |
underweighted |
| Emerging Markets |
5.9% |
6.1% |
- |
underweighted |
| Small / Midcap Europe |
5.8% |
5.1% |
+ |
overweighted |
| Commodities |
1.9% |
3.8% |
- |
underweighted |
| Cash |
0.1% |
0.0% |
|
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Tools |
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