Newsletter actions favorites des gérants

OBJECTIF DE CETTE NEWSLETTER

Notre newsletter met en exergue les entreprises cotées internationales les plus sélectionnées parmi les meilleurs fonds d’investissement^*, et synthétise leurs données boursières essentielles. 66 fonds (dont 13 fonds immobiliers et 11 fonds d’infrastructures) sont analysées quotidiennement, et les sociétés les plus présentes dans les premières positions du fonds sont retenues. Un filtre de recherche permet également d'identifier facilement les actions suceptibles de répondre à vos critères.

N.B. : assez naturellement, de nombreuses sociétés présentes dans cette newsletter le sont également dans la newsletter IH Score.

Girl vs Bull

lundi 27 janvier 2020

Le contenu de cette newsletter est réservé :
- aux abonnés “Newsletter Gérants” (obtenir un an d’accès),
- aux membres participant régulièrement aux forums et faisant parti du Top 20/50/100 Réputation.

Vous n’êtes pas identifié.

- Classement global -

Présence dans le Top 25 d’au moins 3 fonds

(seules les 30 premières actions identifiées sont listées)

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
u7AGhz	jbST	2,3%	A	19,1	22	87,8	afGB	fwYDd0Y6FK	64%
Roche Holding	258,2	2,7%	A	12,0	17	281,0	319,2	Drug Manufacturers - General	38%
ajQ	rjKt	1,2%	A	23,0	15	-	SgsF	ZK0kKL4zJK	50%
Gyo8e3dc	5oeh	1,4%	S	143,5	14	10,0	Yjl	I8hugSZeSc	35%
7Q1L0lDR	enr8	3,1%	A	12,8	13	94,1	LVU	wFktLYyrf0	26%
7aXLWE9Y	A5fu	-	T	20,5	12	1 549,1	5Vh2g	PF4RHuNm3l	40%
1Oqcw9WU	LGr	2,2%	T	31,4	12	97,2	60Q	o24U2xBqcf	47%
roSLF7Bz1V	Wh7C	-	T	-	11	237,2	MMH2	Ww2EeCcWvG	39%
B19jqaRq2x	FrlO	4,5%	A	12,7	11	262,9	tmc6	ZWJ1QmJ1Kr	28%
YxIcHFmarz	XXx2	1,5%	S	19,0	11	319,9	ssMR	0NFXv7WfWZ	22%
xPPC	xSwJ	0,6%	T	28,7	10	218,2	vCdq	hL1xpaYARX	38%
MdcneTb	bQD	1,7%	T	26,3	10	628,2	fcPI	udm5B2IzQC	23%
DThmzPuDbp	Tkq	4,0%	T	25,7	10	37,5	qkr	WONnBGjSoF	23%
4qVNQ1B6ou	oI8t	3,3%	T	-	10	4 513,0	P6rf2	BfAsgasout	29%
a9q0e9kNlB	wR8	1,6%	T	27,3	10	232,6	3m8b	NdsNaLnA7I	35%
XRfY2n1	Dfz	0,5%	S	29,4	9	71 375,0	numBwn	lvucg2wCTb	21%
PcntA	yUx	3,8%	A	23,5	9	121,0	gyK	57f9u47jLH	15%
Y1S5z	Jdte	5,6%	T	5,0	9	68,3	bBB	EeFUulRnyE	15%
1uHefMw12	w7YmZ	1,2%	T	21,0	9	174,0	NPoe	02XCaXmh2v	44%
RvO3ahjNqi	B7aX	0,5%	T	33,9	9	339,6	2LpE	TqtlbIhpQd	32%
Eg85aHOPgQ	VsAZ	0,3%	A	-	9	388,2	TlvQ	L4seFZBy8P	33%
ycTXoXGV7U	lDo	3,2%	T	32,5	9	143,2	GM7g	63oSYT6wxk	27%
Mjs8qBT	qPtm	1,4%	A	24,3	9	205,3	N743	mj47okWHNi	21%
P3hLR1UkOu	53VW	1,2%	A	42,9	9	185,8	HKqd	NVY3Wh6SiO	25%
muHfhWuVdn	Eut	5,7%	T	16,7	8	170,3	l92X	8KI6QCImQZ	17%
3O9dT97o9i	vf5	1,5%	S	17,6	8	2 391,4	090lb	xdJo6TCbel	17%
AHYtsBvpgH	EuL	2,5%	T	29,2	8	171,8	hfTI	0NgOOaouuF	18%
Q9SyUaUFtq	ylI	1,7%	T	27,0	8	32,7	zcD	LuCH9Vl9WM	21%
XswiMe5DT	ccV	4,0%	T	22,1	8	90,1	XQs	FEaaxKBbwY	18%
cyBkFVyARJ	34C	1,7%	T	31,3	8	74,0	by7	1zxHkqDWK6	21%
Médiane	119,8	1,7%		24,3					26%

- Classement Top 25 par secteur -

(seules les 30 premières actions identifiées sont listées pour chaque secteur)

Consommation discrétionnaire

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
wMJuYGcYPB	KDM5	-	T	-	11	237,2	yu5e	fwbTaO5Xvb	39%
bAn8Xp7NE6	OBbL	1,5%	S	19,0	11	319,9	vfBd	yGdu38FNMQ	22%
0xaZyr	rQB	1,1%	A	18,4	7	200,1	2Dk4	5j8ROl9XcK	24%
ls2IijOil	DmLP	-	T	27,9	6	2 181,6	N2XbD	HWQV9WkDIV	25%
hYDaW0fygB	ixN	-	T	14,5	6	2 124,6	aZfgx	WtuWidliJ3	15%
FfWmUzpGgF	lK5	2,1%	S	15,8	6	31,0	gPc	HqQt4Iy5L4	13%
Gprs	3XJF	1,0%	T	27,2	5	109,8	nPTE	VSAPDbtLtL	11%
wBdqbVjdlg	yLy	0,7%	S	16,0	5	1 741,3	NcQqw	CtaZoNr0Ty	10%
lQFgr1d83G	AzD	2,7%	A	9,3	3	195,4	r6kW	A5ic9Iy0vR	7%
Kdz9S	wfD	1,0%	T	13,0	3	100,3	3wf	eImIjg1PW	8%
gHyoj1ubse	f5Gg	2,5%	S	8,4	3	8 332,9	o0Mdf	erSvOcXUR2	3%
6M6Q	h28	0,5%	S	9,4	3	8 085,5	0PlMT	PSq49xyZfI	4%
Jhhm0xH5Mk	ami	-	A	10,4	3	14,8	4fZ	WtdHKx2j	9%
NOyRd0Gd4D	fV4	1,5%	A	21,4	3	124,8	d4Mf	mceuGm9FZT	6%
La1FP0	7OE	3,0%	A	11,4	3	87,1	UbY	pf5l6Cd4ZV	6%
Médiane	80,9	1,0%		15,2					10%

Biens de consommation de base

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
o8CSWt	1H86	2,3%	A	19,1	22	87,8	tXbI	XuvEB0WkVi	64%
Red7kyj3M3	NZzw	3,3%	T	-	10	4 513,0	QEbsX	NStmOMaHnj	29%
tfJXN10	aIGh	1,4%	A	24,3	9	205,3	PPOf	eRtzlovmJe	21%
E8W3U6	gsp	2,1%	S	20,3	8	2 916,1	EWIFd	fwkeVuaKY5	17%
PTspjKGOnh	7mB	1,9%	S	17,9	5	141,0	r4he	2LKlJqbgsU	10%
HaXJZCdVOx	bGQ	2,4%	S	14,3	4	7 085,6	GeSjn	HEZIP5me3w	14%
qTvrkL	v3e	2,7%	A	13,2	4	75,1	d3N	FoejV08fnw	7%
PvhoFI	0ss	2,1%	A	10,1	3	100,2	uDM	o0egcdn3v4	5%
pgZcaMcF6a	rQw	6,0%	T	11,5	3	3 825,3	ZeorH	VCWMJfp	8%
xVjGu	2ft	2,8%	S	11,0	3	269,9	vO3t	WpPDNgIyOH	6%
GKt4C7q0e7	aDQm	2,8%	T	26,2	3	59,5	4Xt	pjhtbmImQ4	8%
Médiane	89,8	2,4%		16,1					10%

Énergie

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
UrbtI	wmCc	5,6%	T	5,0	9	68,3	fXo	3fUWK3RBJa	15%
h5yW524BhB	xBmo	6,6%	T	4,7	7	3 611,0	yAc8X	Yemuz00I2X	10%
qBWfH2gR	5gZ	6,0%	T	16,3	7	55,4	dbU	bajrOcbPq2	24%
2DZTQJ8q	9fI	4,2%	T	13,8	7	70,5	XLE	eg23YeORtH	22%
kyJsvXk67r	gCh	4,6%	T	13,6	5	22,1	nTF	AqekYnCsFL	12%
ux	pZ3Y	6,5%	T	5,0	4	799,0	pJTL	Lb6DmTRFTs	8%
fPmI5dmHfm	QF2	-	T	18,8	3	81,2	1D9	YdJ2VpKeVA	8%
SFKzlmM4xt	3g8	6,7%	T	13,0	3	27,5	Sv5	qrkqXkOG4L	9%
vf9yV	Sxb	4,9%	T	18,3	3	76,0	8BL	fjTsZL1ATX	8%
Médiane	46,6	5,6%		13,6					10%

Finance

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
yF0Jkb3B	vBYI	1,4%	S	143,5	14	10,0	RWj	jYpppySMRn	35%
aheii4IlgI	IRU	6,1%	A	-	5	61,5	FQu	o3dOaWJZp9	13%
nEFpNJk4Ix	GVbW	2,3%	S	-	5	99,3	Lqh	goUSK9g7CP	6%
nlw0a5uc	vWk	0,6%	A	-	4	2 405,3	SPJ7F	whyHSTWFgE	14%
e8JhysbP	1EB	5,8%	A	-	4	17,6	sPZ	v0oWf72ud4	10%
arg984kSPs	6It	-	S	-	4	30,1	AJo	e	8%
3IV4QIlHE	3Gi	0,2%	S	-	4	398,3	GssV	Ye0t9hzv00	9%
GmtVm7AlLA	UT4y	-	T	-0,3	3	-	f7e4	A	7%
T6nXHDDpPL	CzPh	5,4%	T	-	3	920,0	ahZE	OPCcHIMw1O	3%
ILs6bnIUMk	uuR	3,6%	S	15,2	3	2 079,2	o7NBL	BE6RFWURZj	5%
5HjQX0ww8Z	Jed	4,6%	S	-	3	5 568,2	cO2sO	YWhCcuoPkz	5%
qZkFwuO7	wrw	6,6%	S	-	3	14,4	YJJ	zZ5K0uSCy4	6%
oYVXbIpOL	8B3	2,2%	A	-	3	16,4	DmT	rqIM7	8%
KBK6vJowKg	7L4	5,7%	S	-	3	75,4	f9i	ItW03GpIlu	7%
bhgaCou	w4R	4,1%	A	8,4	3	213,7	sjGf	ZzrnX2mbSD	7%
Médiane	47,7	3,6%		11,8					7%

Soins de santé

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
Hri0ZpMFBw	nyQG	2,7%	A	12,0	17	281,0	IOmN	pQLRDfbLR6	38%
vmpqeDXa	mSe2	3,1%	A	12,8	13	94,1	Xcc	Gph3aliKUJ	26%
xUNv8	t3y	3,8%	A	23,5	9	121,0	nCq	M3KOviRVhq	15%
27OMXV	NqbT	3,4%	A	12,6	7	82,6	80W	zwHbLAlpxZ	13%
ibkgfdssR	ygLy	1,8%	T	18,6	6	126,2	v7M2	DIQnYM2Pwk	17%
HvREoxLUKd	nfMP	5,1%	T	11,5	6	1 644,5	H3fe4	pxE8wBScWk	10%
RhwJnwuBnj	Htg8	2,9%	S	27,8	5	7 883,0	m52vp	Yo75jDoVJl	12%
8i5JE7quUW	cZq	0,7%	A	21,7	5	354,2	e2EI	BU3nSloHhN	12%
jmhg	V9q	0,8%	S	20,8	5	7 587,2	6CNx4F	ft9aUmOgIv	9%
rSpZ0se2Wd	Kze	4,1%	S	13,0	4	6 017,0	oZVak	qNeyrrQDLv	12%
64Yf138uRg	9uVR	1,6%	T	22,7	4	100,2	PrS	d0pvvqncto	9%
x8rrDCGscl	5nR	2,1%	S	8,7	4	1 968,5	OfXwD	hMNjtCHwUs	5%
4XTidML9m2	C8o	1,9%	A	18,9	4	38,5	x98	3GOW2HNYge	6%
T9ewUQEYzH	MFv	-	T	44,1	3	640,2	ANA5	HIYjeO3T3H	7%
LjH3hJnmnf	2LNc	2,6%	T	14,2	3	160,8	hGBZ	j9FBAwYk5J	5%
shLWiIdF	eBj	-	T	41,3	3	345,6	Qvfi	DepLEtbLM9	11%
zHmmK1	oNb	0,6%	T	28,9	3	142,6	Ia4O	oeY5rtMPN0	9%
mw8qlv	x4a	-	A	68,3	3	1 284,7	xD1i8	wI1N4Zei2Z	6%
sJ0FPonAlY	urZw	2,0%	S	17,1	3	327,0	TFyP	R6h43QMFRD	6%
Médiane	73,9	2,0%		18,9					10%

Industrie

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
bhYGc6gqF8	8ww	1,7%	T	13,4	8	119,9	NYWw	rE0drf1BA	17%
xkXzj	xkd	2,7%	S	11,9	8	95,4	y9z7	h8cnofnJN1	25%
KW8vRt	ByQ	1,3%	A	15,0	7	119,1	9Gwx	WVe8WmE2WD	20%
BMVT5O6bN7	DvKR	2,1%	T	14,3	5	194,9	t7Hc	SbMyuA4cJ	15%
XF0VWcxKf	nl1	0,8%	T	23,5	5	83,1	OJb	rXTjB2m5Z0	13%
O1Hq	U4s	2,2%	S	19,8	5	1 738,5	AYqQG	PUOxpsUsXZ	13%
nKhaDMN4XC	XKH	2,5%	A	13,5	5	76,4	xwJ	KGsheL95T9	11%
F8yfXeq	T5O	3,4%	A	12,2	4	-	ydpo	x9RGEkYfYi	8%
dX8	2vf	3,5%	A	21,8	4	24,1	bVa	cwnYBvMPFV	11%
uEevkU5GBV	lIk	1,8%	T	12,5	4	207,5	GE7p	jC5yKr2pc	15%
ebtnrkEH	BSK	1,0%	S	18,0	4	2 564,0	pfGUK	X0jxhhYrw4	10%
HOELCSXDWm	Zq4	1,8%	S	24,2	3	974,8	qDkj	rJ4G9PdBLq	6%
YDpaojKBGa	x5F	3,8%	A	6,3	3	44,4	GNP	BFN32gC0Si	7%
e7Y861X8Uo	Szk	2,5%	S	7,1	3	1 793,1	SKJbk	fIZtOZOWNp	5%
mIASGlOQ	Lc3	4,4%	A	8,4	3	22,8	HAY	cZYFDIIdpm	11%
qksRMXrl9P	tSC	1,0%	T	14,0	3	177,1	wEwX	RIPaEw4wO	7%
lVkP	ydo	4,1%	A	11,9	3	166,7	fR76	GZbHpCDqJL	10%
6ZUnr	yXN	1,2%	S	21,6	3	19 410,0	ol8zxB	kEQsumJzUF	7%
QsOCpf2SlP	g1D	0,7%	S	22,3	3	3 740,0	Y2Ff5	m5ekXHhREh	7%
Tta	VWD	0,4%	S	17,2	3	41 350,0	3FCqH3	OPCGeQP3jf	4%
m4ZIYlOCE	wlx	2,8%	S	312,8	3	20,9	HWF	0F3g3vg1cW	9%
N3IE5xI1Ht	TkX	1,7%	S	19,4	3	243,7	vYh1	gTk9sNTGgh	8%
Médiane	37,7	1,9%		14,7					10%

Matériaux

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
T5Jl2	Zl6h	1,7%	T	17,3	7	220,9	FLKL	eKQ4uQj9k5	17%
gU38	sDP	5,1%	A	11,3	3	-	krC	OdWNhVZGy	5%
D6PaCrPQgx	Lvx	1,9%	A	14,4	3	116,2	Lu2r	WS2PimC57	6%

Technologie

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
aS6	si2w	1,2%	A	23,0	15	-	FjSM	XwYbiZ1fXn	50%
FXPol8hPvQ	EBFn	4,5%	A	12,7	11	262,9	5iRd	RNBvxkIEcE	28%
QwX7	zwsx	0,6%	T	28,7	10	218,2	22ug	WtIGhNI0zY	38%
gK4ZrX5	HkO	0,5%	S	29,4	9	71 375,0	hEeycY	FrqosyLDJS	21%
QmW5vbZLq	lditx	1,2%	T	21,0	9	174,0	B7SS	xbggNLgejT	44%
3hU9WgWjK8	w9i1	0,5%	T	33,9	9	339,6	VYMw	bCRrbSwZsj	32%
rnoZ6ohMrm	LnOX	1,2%	A	42,9	9	185,8	fE4j	FFTD7oRtKi	25%
WZCavewM8	lxu8	1,5%	T	18,5	6	222,2	h0CQ	Mg6WrtOLZ9	20%
aQudSppNUB	e8Q	1,6%	S	16,6	5	62,1	iGC	BSsVh3W8Aj	10%
UedAS	FZ4x	-	T	44,2	4	352,7	SdVf	WcvRy15Bqq	15%
lvpZfgH	MhC	2,0%	S	5,7	3	4 903,6	pbI0S	t6P1ZKZnBX	6%
nwVobdDcv0	seR	0,9%	T	39,0	3	160,3	e29V	Xhgu19PWs7	9%
N7GOkT	rteF	1,8%	T	12,4	3	56,2	gdA	77fDq25ieP	4%
wQevvSNqrS	RjV	2,1%	T	21,9	3	183,3	YcTR	QRIYvR3YEO	8%
MmwNjfxyB3	wu4s	2,7%	T	18,3	3	134,2	B3zd	MCp9dMo5eC	8%
mmDK0WY8ya	n5x	-	T	17,3	3	118,7	fs4r	7Cyp3zKGyO	8%
Médiane	117,8	1,2%		21,5					18%

Services de communication

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
r68kkpAd	el6t	-	T	20,5	12	1 549,1	VXB7r	plLuQOFw0W	40%
ZcCsGRj5qf	sGwP	0,3%	A	-	9	388,2	liip	wVDfIIDGOB	33%
PJsB2dz1dK	igQ	0,2%	S	25,7	7	23,2	DUO	ickMBmKd7I	15%
vfV7H1qhDl	KGD	5,0%	S	-	6	201,0	yHo8	OlBcIgnC2j	10%
RcwzW	ucV	-	T	-	6	148,2	meO9	V3E93LEQSY	11%
rPRoVBEf	6LJ4	-	T	20,3	5	245,9	efKf	bJPiADlavX	18%
ADhgRCd	sUS	0,3%	T	-180,3	3	-	Yl8	uyyYkZtkeF	5%
i02chycqsi	Jbs	0,9%	S	8,9	3	13 753,0	ohlzo	j67QlDZqTj	3%
cuxg90XrbQ	k3C	6,7%	S	5,9	3	5 982,0	N8ezQ	v6duvWA9ev	4%
EV1kHzmx5P	7Dz	4,1%	A	7,2	3	17,4	ExE	kz5AruGbnm	3%
mxafjl3	YOPB	2,0%	T	9,1	3	51,1	Rw5	QhIJFrAKOd	9%
NnDS	dbO	3,4%	S	5,6	3	3 233,2	lKSjA	bsvdiE3HR2	6%
Médiane	76,3	0,6%		8,9					9%

Services aux collectivités

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
qFoNvFDDw4	4HQI	1,9%	T	17,7	8	253,5	fFsV	bHYr0EvaIP	37%
cVlZmStbg	0P9	3,8%	S	11,6	7	7,1	Ir	mei1IEaQec	13%
gjgLM0lI46	lkh	4,8%	S	12,8	6	912,9	F2qbw	3Wy6RogAZI	23%
s4crE2HI3d	dyK	3,3%	T	13,4	5	81,0	Ido	7tSKy57QJ5	12%
fzp6q0o5yp	u23	4,4%	T	16,9	5	86,3	1CN	ebtXwFu9wr	15%
YgJwms0ynW	FgN	2,4%	T	17,5	5	163,8	qSgK	boaqDv6ieM	15%
rBtJT5w3gd	tXt	3,9%	T	12,5	5	97,6	Psf	Ly1Rt3FcvE	11%
yw15B8POg5	AD6	2,8%	T	15,3	5	99,8	awru	PldXbxQT4I	17%
o3bM	ofK	4,2%	S	9,6	5	5,6	4f	0Ac5P496zj	11%
arSRQyqGu5	QZQ	1,5%	T	19,2	4	127,8	ft3v	GKOwzT6FzH	11%
1CVOJSzDcP	ix2	3,1%	T	13,4	3	52,5	zqb	RJ7A3LlTBn	9%
A5BbZy3Cr5	tEg	2,0%	T	15,8	3	117,3	RLDH	BGCPKkP8GQ	9%
2pEhg9tv4	SQ8	2,4%	T	15,5	3	66,5	f5q	Rtk9McjM1Z	6%
bC3bU	c51	3,9%	T	13,3	3	59,5	C19	OSD6TAhgnj	5%
lRJQt	7fT	4,9%	S	10,0	3	15,0	86l	nlQA9lkQMe	6%
xaVA5kmqVR	VLa	2,6%	T	18,2	3	92,4	27I	xD5L09IMVs	5%
CQC50WjBqO	tfr	3,8%	S	12,5	3	5,0	5H	G6d52Eznpd	10%
Médiane	37,9	3,3%		13,4					11%

Immobilier

Société	Cap.	Rdt.	Div.	VE/Ebitda	Nbr fonds	Cible	Cours	Industrie	Pon.
Tvh8qfdN	Nw0	2,2%	T	31,4	12	97,2	qx6	VkxLF4oopm	47%
RMquDwf	2uc	1,7%	T	26,3	10	628,2	PuRD	hD5J05J6ZM	23%
nCGJ0P3pp0	BaH	4,0%	T	25,7	10	37,5	v7t	7qcCDHIytr	23%
bpME7nKOzO	pSz	1,6%	T	27,3	10	232,6	q0mq	57quiHryyF	35%
3WE5xjGZim	pQI	3,2%	T	32,5	9	143,2	zZv2	7xmw05oTuZ	27%
FqprmorPim	sWI	5,7%	T	16,7	8	170,3	sGOx	MngZPsOJvE	17%
1HB6kDwzkZ	kfa	1,5%	S	17,6	8	2 391,4	UBEPM	HiH6xe2WsZ	17%
zfYJgb17kZ	IYi	2,5%	T	29,2	8	171,8	Z6fb	K6pj2nWOvR	18%
BOaMllBNiS	Ewn	1,7%	T	27,0	8	32,7	C9Q	5VtSUeQbaZ	21%
DrKREFZNk	lrj	4,0%	T	22,1	8	90,1	Vkh	90MIM5Unqd	18%
8eonducvRc	gCN	1,7%	T	31,3	8	74,0	rtX	r6nUp4kyFO	21%
FyfdooMX	jRz	3,5%	S	26,4	8	78,3	dsb	D24XP7fX4X	20%
j3kVGqBpUZ	WoC	1,6%	S	16,6	7	3 319,6	YKnPd	XZz8mWVjyq	16%
OqkiyNBIlU	NAT	2,7%	T	23,9	7	85,7	vJD	2WIgxof7vg	17%
Obrk1aayFe	aBU	1,9%	T	29,9	7	161,3	FGSg	A8iqaeHowO	14%
vx9P9dr	ury	2,8%	A	29,5	7	47,8	vFF	8Rh9dhoeMy	17%
sQC50KalIg	3j	2,3%	T	28,2	6	40,1	LI7	UO8BAlLhfJ	14%
l31S1UJkMB	pYJ	2,8%	T	25,6	6	226,7	nIcx	2CZlCbXj3f	16%
lvNDP	rbw	2,1%	S	43,0	6	719,3	hjwi	EPlcSsD5bZ	14%
50wRf99VuL	Daj	4,3%	S	10,4	5	145,0	UYAB	uCo8dEXDGE	9%
7ELH68QmwF	2p	1,5%	T	40,9	5	50,6	pFh	5JIhGjO1zk	11%
CEZnoCzjWs	KFa	0,6%	T	31,4	5	263,1	vq3D	Pat3uUdiRL	12%
1MWzmGN23r	9j	0,7%	T	20,6	5	28,3	vMJ	hytmzjz33v	10%
voSgYmsWtm	aEM	3,3%	T	23,1	5	111,9	eY1J	HvtAGnTbVf	8%
H3I3PENa7W	WzZ	2,3%	A	33,4	4	44,9	YmI	QRCqNLwdzt	11%
XS78cPUv7w	yu	2,3%	T	28,7	4	89,5	TSf	ACIbPq3HQR	6%
4LNkHqSgjA	qg4	2,5%	T	26,9	4	332,4	hV2F	WlSEIrF41C	7%
rBZvZkL3mW	TM6	4,5%	T	19,8	4	28,6	cwb	hm30Fy049s	10%
UPILYO7wwp	xA	3,6%	T	21,2	4	41,2	VpK	3XVXL1BO6F	7%
YRJs0Aqe4y	3R	2,9%	T	22,6	4	118,5	Jyil	NUOXV8YCsl	9%
Médiane	18,9	2,4%		26,7					16%

LÉGENDE

Abbréviation	Signification
Cap.	Capitalisation boursière en Md€, après conversion le cas échéant
Rdt.	Rendement sur dividendes prévisionnel d’après le consensus des analystes
Div.	Fréquence de distribution du dividende : Annuel, Semestriel, Trimestriel ou Mensuel
Bêta	Le ratio bêta est une mesure statistique basée sur l’évolution du cours de bourse. Plus le bêta est élevé, plus le cours de bourse a été fluctuant ces récentes années.
VE/Ebitda	Toute choses égales par ailleurs, plus le ratio Valeur d’Entreprise/Ebitda est faible, plus la société est bon marché. Mais les sociétés les plus qualitatives ou qui croissent plus vite se payent souvent plus chères. Enfin, ce ratio n’est pas pertinent pour les sociétés bancaires.
Nbr fonds	Nombre de fonds répondant aux critères détenant l’actions.
Cible	Cours cible moyen d’après le consensus des analystes des principales banques américaines. Ils peuvent se tromper :ce n'est pas une martingale !
+bas ↔ +haut	Cours de bourse par rapport au plus bas et au plus haut à 52 semaines
Pon.	Pondération cumulée de l’action pour chaque fonds répondant aux critères.

- Liste des fonds généralistes analysés -

1. Morgan Stanley Global Opportunity Portfolio

Notation Morningstar : Performance annualisée à 1/3/5 ans : 35,4% / 24,1% / 18,0%

“The investment seeks long-term capital appreciation. The fund seeks to achieve its investment objective by investing primarily in established and emerging companies located throughout the world, with capitalizations within the range of companies included in the MSCI All Country World Index. In selecting securities for investment, the Adviser seeks high-quality established and emerging companies that the Adviser believes are undervalued at the time of purchase. The fund may invest in equity securities. It may also invest in privately placed and restricted securities.”

1.	7%	h37IxtvbZF	6%	Uc4vFwPzX		rPy2Vq2dgg		TfzS6VuVC3	5%	r7zjgLCV
6.	5%	xymfbFap	4%	AxJx	4%	M41EUV408F	4%	c4MJF	4%	vLayaMQ1va
11.		rqwqG57d66	3%	JSxHtOH9HE	3%	fvwZPtT	3%	8mqlDD76	3%	rh2ujoZ
16.	2%	VgxrpfU8NV	2%	51d54Z3UMg	2%	bTa3Wo65Km		v5QatGWFuZ	2%	kbrTUNUVkl
21.	2%	DM3oMMpQPs		hf1yOH	1%	U1mqj6gFMf	1%	uD6ukHEdlO	1%	TiGE3cbV1b

2. Baillie Gifford Long Term Global Growth Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 33,5% / 26,6% / 17,3%

“The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets in equity securities. While the portfolio managers are not constrained by geographic limitations, it ordinarily invests in securities of issuers located in at least six different countries. In addition, under normal circumstances, the fund will invest at least 40% of its total assets in securities of companies located outside the U.S. when market conditions are favorable, but, when market conditions are not favorable, will invest at least 30% of its total assets in companies located outside the U.S. It is non-diversified.”

1.	8%	8wT1yhgKn	7%	bAN6yNAZXh	7%	5hR8Nra0	7%	ENoOyTabRQ	6%	UerFR
6.	5%	5t7wkWTS	5%	lAkCNK	4%	qZ6QXcSb	4%	7AshRTe	4%	3TYk9F
11.	4%	AAEgTIjpP2	3%	6fPimFx39L	3%	XKd3BoA4vq	2%	551pLf	2%	O47dzQKfM7
16.		5NwueMJDHA	2%	TqMRCrRo79	2%	l6S9Qu8G7	2%	as0Ve3tHsO	2%	jcvJ2ok0ze
21.	2%	c2P7OIJ	2%	90RoyZB6wx	2%	voiMjY6	2%	kcte5e6	2%	ERwoFy16

3. Polen Global Growth Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 35,5% / 22,2% / 14,9%

“The investment seeks to achieve long-term growth of capital. The fund typically invests in a focused portfolio of approximately 25 to 40 common stocks of large capitalization companies (market capitalizations greater than $5 billion at the time of purchase) that are located anywhere in the world, including companies in both developed and emerging markets. It will invest in at least three different countries and will typically invest at least 40% of its net assets in non-U.S. equity securities, or, if conditions are not favorable, invest at least 30% of its assets in non-U.S. equity securities. The fund is non-diversified.”

1.	8%	gLa	8%	LEdXzq	7%	IrVr8e56n	5%	cqjR8Jm1	5%	xWLbD
6.	5%	pK8eWIfkGJ	5%	7eO4A4y13e	5%	mSty	4%	mHn	4%	4izjEKYH4y
11.	4%	i0P4az	4%	sl4W71KhH	3%	TRmYQlBr	3%	wDWY9oj9xr	3%	6fIbYO
16.	3%	EsHIqezEar	3%	sw5Y	3%	B1sivuigPL	2%	61w8wpiG18	2%	Wno6NDeBc
21.	2%	esoRRM6DwO	2%	jT86wJaQPD	2%	dCnWHUGvQ	2%	t7mE4J	1%	0yBiQ3Lp88

4. Artisan Global Opportunities Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 35,6% / 17,4% / 12,8%

“The investment seeks maximum long-term capital growth. The fund's investment team employs a fundamental investment process to construct a diversified portfolio of U.S. and non-U.S. growth companies across a broad capitalization range. The team seeks to invest in companies that the advisor believes possess franchise characteristics, are benefiting from an accelerating profit cycle and are trading at a discount to its estimate of private market value.”

1.	6%	OqjI8CBGU	5%	YGtUtDxGGG	4%	8q7e9VBboN	4%	UH0RBd2WE	4%	E0ZhBReZMn
6.	3%	YB8VwNg5Az	3%	r9oZaU23KF	3%	gXgzGV4FKD	3%	4CExebgv58	3%	DYN5pH
11.	3%	bqzLFQLh5g	3%	ue2lRm	3%	LuGqp	3%	J67OU32pWL	2%	PKQNy2GWI8
16.	2%	DgIG06W3QP	2%	cR9EG7A63h	2%	5BYR6q	2%	X10HUQeX33	2%	W2j8YL3
21.	2%	mnjYdY	2%	tYBRx7C	2%	OTrRNOl8	2%	xOInpHKWmt	2%	GsLfgavT

5. Morgan Stanley Global Franchise Portfolio

Notation Morningstar : Performance annualisée à 1/3/5 ans : 29,6% / 17,1% / 12,6%

“The investment seeks long-term capital appreciation. The fund seeks long-term capital appreciation by investing primarily in equity securities of issuers located throughout the world that they believe have, among other things, sustainable competitive advantages, capable management and financial strength. Normally, it invests in securities of issuers from at least three different countries, which may include the United States. The fund may concentrate its holdings in a relatively small number of companies and may invest up to 25% of its total assets in a single issuer. It may utilize foreign currency forward exchange contracts. The fund is non-diversified.”

1.	8%	uXzCF3CqI	8%	VeFOKx5c5W	7%	0JrFcpxcHL	5%	Z6ej	5%	cXW
6.	5%	aGxbvy51M	5%	ED4fz0vd9H	4%	BqdLzz6XzN	4%	zxwFQ1z	4%	QjKayXACRf
11.	4%	Wa7LhcW5	3%	H2et	3%	DFHLeO9gdj	3%	z5bGHyFotK	3%	gLpGnv0ZhT
16.	3%	dtHbzt3AMk	3%	xfutmA3	3%	O1dTb3q5SE	3%	LTyr3KXV	3%	gIKqql
21.	2%	6wVH9YlPsh	2%	GROF3b00UR	2%	FCUI	1%	IwxBg9F	1%	P7CrZUlMVP

6. Harbor Global Leaders Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 35,8% / 22,2% / 12,3%

“The investment seeks long-term growth of capital. The fund invests primarily in the equity securities of companies located anywhere in the world, including in developed and emerging markets. Under normal market conditions, it is expected to invest in at least three countries, including the United States, and invest at least 40% of its assets in foreign companies. The fund may invest up to the greater of 30% of its assets or three times the emerging markets component of the MSCI All Country World Index, in securities of companies located in emerging markets.”

1.	5%	RZvz	4%	n2QDA	4%	UaJUb3Mn	4%	c9WSh4dg66	4%	IEdzzyy4vE
6.	4%	6Il0Mw37	4%	WXzCOYeEKn	4%	s2GWXTw	3%	9qqTZs	3%	C5R
11.	3%	NyXuRA3Kmz	3%	deKKKC	3%	kxO0qfr5tj	3%	DIQA3J	3%	zV0MjFqNBJ
16.	3%	K0avNdr2V	3%	fY2OX	3%	QMkWLJPUGa	2%	iHK0r0guse	2%	qWsIFto3rw
21.	2%	2X6Ax7k	2%	UyzvV16faX	2%	nvfxrQmd62	2%	o5CPlhm	2%	TbxA9JqAor

7. Virtus Vontobel Global Opportunities Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 27,2% / 16,0% / 11,2%

“The investment seeks capital appreciation. This fund seeks to provide investors with exposure to high-quality global companies. The securities selected for inclusion in the fund are those believed by the subadviser to be well-managed businesses with consistent operating histories and financial performance that have favorable long-term economic prospects and, in most cases, generate free cash flow. Under normal circumstances, the fund invests in equity securities or equity-linked instruments of issuers located throughout the world, including issuers in emerging markets countries and issuers in the United States.”

1.	4%	YjImpD	4%	Kk2Pfbl4NF	4%	OCkpL3Wj	4%	hSzwSicYXo	4%	ma8wMTAI
6.	4%	3VdWk1QPyl	4%	aEdIL9tfc	4%	J3nO	3%	J9l7txbeP	3%	J0n7azsLZf
11.	3%	6SC5ip	3%	WhTExH0fD	3%	9EJ	2%	5LdIg8WUE0	2%	YQhTuR6C8x
16.	2%	XdL11L	2%	E7bJFeZSMo		QDswDMdvcD	2%	mDyDXHui2G	2%	4B3JF1drhB
21.	2%	y9fy6YZV	2%	3Aei	2%	fuJ6QtgttN	2%	0S5QgR3	2%	lec2aG4PFU

8. BNY Mellon Global Stock Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 29,6% / 16,5% / 11,0%

“The investment seeks long-term total return. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in stocks. The fund's investments will be focused on companies located in the developed markets. Examples of "developed markets" are the United States, Canada, Japan, Australia, Hong Kong and Western Europe. It may invest in the securities of companies of any market capitalization. The fund's sub-investment adviser, Walter Scott & Partners Limited (Walter Scott), seeks investment opportunities in companies with fundamental strengths that indicate the potential for sustainable growth.”

1.	3%	qZstGY0	3%	MWPSQ1NQI	3%	2LsoYr7L9m	3%	DvcuRbAB	3%	ZtYRFXPm2X
6.	3%	Gu86NXJ6CY	2%	cFRplM8a	2%	a9jVQjRP4G	2%	c4rWaCl2	2%	muH9luS763
11.	2%	fmJSQ	2%	gF3	2%	3VEXzADsrb	2%	QAJP3uzANp	2%	9QiAhqBPTW
16.	2%	VX42yr	2%	NhZGETSXhj	2%	AxGQHF	2%	r07DY1gJ	2%	ne4JqC3h7c
21.	2%	6xupu	2%	4SE6	2%	3yFIMAkWLl	2%	f0Uhftg6Sj	2%	zDH7Z3fCRn

9. Vanguard International Growth Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 31,4% / 17,9% / 10,6%

“The investment seeks to provide long-term capital appreciation. The fund invests predominantly in the stocks of companies located outside the United States and the advisor expected to diversify its assets in countries across developed and emerging markets. In selecting stocks, the fund's advisors evaluate foreign markets around the world and choose large-, mid-, and small-capitalization companies considered to have above-average growth potential. The fund uses multiple investment advisors.”

1.	5%	HQlm8aLz0k	5%	IXlF1leynY	5%	gstie7xPUJ	3%	MZpoEBd6B	3%	z0ZLHQ3Q
6.	3%	nSXf1NfPeV	2%	MjiDEHbD	2%	JvlJzK	2%	xWhQDkU	2%	NmLLC01ItI
11.	2%	xLydbbV	2%	kQ		E19jfjB8tr	2%	7bJ	2%	PP3VGZ8qf5
16.	1%	BdpEtP	1%	Zv1KVI	1%	vPtBbBi	1%	d3eI3	1%	qQ4BS5dtlu
21.	1%	Sb3ePYdv5c	1%	dSZk8	1%	t7xf6Qi	1%	Aozv9GKWaL	1%	QI7F0M5vcR

10. Artisan Global Equity Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 31,1% / 18,5% / 10,6%

“The investment seeks maximum long-term capital growth. The fund invests no less than 80% of its net assets plus any borrowings for investment purposes at market value at the time of purchase in equity securities or instruments that have similar economic characteristics. It may invest in securities both within and outside the U.S., including emerging and less developed markets. Securities in which the fund may invest may include common stocks, preferred stocks, convertible securities, depositary receipts and rights and warrants to buy common stocks.”

1.	4%	AmKCWtU0bI	4%	Vuw8W	4%	qn0lzhHNrE	3%	qZIWFjfA6	3%	PQQOf5GrAu
6.	2%	0cecyCr3HK	2%	UY7ZJTjK3F	2%	wXwkozbCBh		yoDmD4IP8F		iDHd
11.	2%	RdEwzTTbG0	2%	JqZQQl	2%	0E0Tt6dBTA		agQfWF0GWT	2%	W6Ucf1L5F
16.	2%	5Ew36o	2%	AqLHu2sJr2	2%	7BjZRHXc	2%	yX2noOLJN	2%	A2EvaRn8
21.		KofbBaLt	2%	Z0uWXfFWY4	2%	nIXfx93l	2%	LrAgdb0A		krdGKTucQM

11. BNY Mellon Worldwide Growth Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 34,9% / 16,1% / 10,4%

“The investment seeks long-term capital growth consistent with the preservation of capital; current income is a secondary goal. To pursue its goals, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in the common stock of U.S. and foreign companies. It focuses on "blue chip" multinational companies with total market values of more than $5 billion. Normally at least 40% of the fund's assets will be invested in companies that have significant exposure to the economies of countries other than the United States.”

1.	7%	QveNsKnB8	7%	6saWC	5%	Bb3Rf2qJ	4%	wqkimIG	4%	qz6L
6.	4%	I3lBvP0ZnD	4%	7bQZ8mhZry	3%	SugzhDtL	3%	TYBVaFMsFm	3%	ER9oY6
11.	3%	hrRTwnewIF	3%	3GpCN9zPHl	3%	IffM5zDJpH	2%	b9qK2VnMuv	2%	JneTNK0RKZ
16.	2%	BruVL9T	2%	XqaylChJ6L	2%	u8wIzfkGo	2%	3NIJfzK	2%	aOrG8LpYHC
21.	2%	Xass9tFxFY	2%	RtrhdrBVIj	2%	tK9UY9o	2%	etuFC	2%	Jxn6Zzeg1K

12. Harding Loevner Global Equity Portfolio

Notation Morningstar : Performance annualisée à 1/3/5 ans : 28,8% / 14,9% / 10,2%

“The investment seeks long-term capital appreciation. The Portfolio invests in companies based in the United States and other developed markets, as well as in emerging and frontier markets. It normally holds investments across at least 15 countries. The Portfolio invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks, preferred stocks, rights and warrants issued by companies that are based both inside and outside the United States, securities convertible into such securities (including Depositary Receipts), and investment companies that invest in the types of securities in which the Portfolio would normally invest.”

1.	4%	Yd9879DHfl	3%	hqVKW23LRK	3%	52redziO	3%	tOR9yML2M6	3%	AqqK2dW5Dd
6.	3%	uoXhuT14	3%	ZawJ5TcTn4	2%	2wVWKYQHRa	2%	WyLbOZYFRY	2%	u5BC6Xsm87
11.	2%	Itmm7vV	2%	gPt84	2%	Qn5dhs0py	2%	00Izjia39Q	2%	6hCU
16.	2%	2C	2%	oJZ3qq8	2%	yww5t	2%	dyTRK1		yVRUk8DX2Q
21.	2%	U6HoBOuwfi	2%	M4rim	2%	BX7vcYT0np		qk25JOLHNE	1%	BpssguBhGM

13. Vanguard Global Minimum Volatility Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 22,7% / 11,9% / 10,0%

“The investment seeks to provide long-term capital appreciation with lower volatility relative to the global equity market. The fund invests primarily in U.S. and foreign stocks that are expected to generate lower volatility relative to the global equity market. The portfolio will include a diverse mix of companies located in many different countries and representing many different market sectors and industry groups. It generally will seek to hedge most of its currency exposure back to the U.S. dollar to reduce overall portfolio volatility.”

1.	2%	a9KLwzk7LQ	1%	iLHSSPzJo4	1%	y4N		8ttANIC	1%	RMdEB1WnXm
6.	1%	5L22pzQcOF	1%	k3ikEVu0GN	1%	Dfnhm8	1%	68byPYgA54	1%	mln3FZ
11.	1%	8fzORQUcpU	1%	c7TV20KZbA	1%	YberfKdejy	1%	pgqqWNL	1%	JQi0hAhDd4
16.	1%	aOdPXf2w	1%	U3PI0i4mb6	1%	2fD3OjAhJY	1%	8cfnloxObP	1%	1QBW36hPYZ
21.	1%	27JUlPa7ln	1%	BzFSY	1%	bfLfNvhBmw	1%	xC63I	1%	9xb5OvbBI4

14. MFS International Intrinsic Value Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 25,6% / 13,1% / 9,9%

“The investment seeks capital appreciation. The fund normally invests its assets primarily in foreign equity securities, including emerging market equity securities. Equity securities include common stocks and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. The advisor focuses on investing the fund's assets in the stocks of companies that it believes are undervalued compared to their intrinsic value.”

1.	5%	7OBVea	4%	OaPqfSN3	3%	IVbA1ffsXq	3%	P1EWgiIStp	2%	6TEGMW
6.	2%	I0NSIU	2%	OXBRiXClUh	2%	3s3KjrAB77	2%	Btre7rCgk6	2%	tk5
11.	2%	hlc86qPHZd	2%	yBZZcQ5cO4	2%	CeK2l	2%	nxmOr8f	2%	EcTnYE
16.	2%	K1xzB3URke	2%	Ud5Z9AP	2%	GrMBFXfu	1%	cyUvEQCTtz	1%	YR4rj45WgF
21.	1%	HjA	1%	NIXmLYW	1%	JMfnzsGJoR	1%	8QqsiLl0G4	1%	3UkzKSSlFw

15. Vanguard Global Equity Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 28,7% / 14,3% / 9,7%

“The investment seeks long-term capital appreciation. The fund invests primarily in U.S. and foreign equity securities chosen mainly on the basis of bottom-up stock analysis. It typically invests across a wide range of industries, and its holdings are expected to represent a mix of value and growth stocks, as well as a mix of developed and emerging markets stocks, across the capitalization spectrum. Under normal circumstances, at least 80% of the fund's assets will be invested in equity securities. The fund uses multiple investment advisors. Each advisor independently selects and maintains a portfolio of common stocks and other investments for the fund.”

1.	2%	ZnvgtsEK8	2%	amZss0ce	1%	3hPqJMnRwR	1%	E6HysjWWzp	1%	ikBCkP
6.	1%	wUApexxZWN	1%	s4o1kBI	1%	0Sln6ZEP	1%	Oftfbtf	1%	Nx4mGCCZWf
11.	1%	oO9uaGoe	1%	sGXw	1%	PLuLuS	1%	dfZOmwx82W	1%	VJKIi2
16.	1%	Xi1alOb8C5	1%	Hlw	1%	VrNQqHYNmP	1%	jDlMLLjYXv	1%	3KvAaQpdpS
21.	1%	J0sIMdE9y2	1%	HjCeFOqtcX	1%	m0RORl5yoF	1%	3wstzT	1%	4BQJW

16. T. Rowe Price International Discovery Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 24,6% / 12,7% / 9,7%

“The investment seeks long-term growth of capital through investments primarily in the common stocks of rapidly growing, small- to medium-sized companies outside the U.S. The managers expect to primarily invest outside the U.S. and to diversify broadly across a variety of industries in developed and emerging market countries throughout the world. Normally, at least 80% of the fund's net assets (including any borrowings for investment purposes) will be invested in non-U.S. stocks.”

1.		buTOLKaHWV	2%	r6ny2qm	2%	Xv2BCvMf	1%	8AocMHMqkI	1%	gkzCCymB7
6.	1%	ipA3tZvfrE	1%	dHQQn0I9sT	1%	Ar4FcP	1%	30vsC6TRFe		R9fIZJMm5W
11.	1%	w4WXV	1%	rGf8vII5nC	1%	zxaAGNq		mHe5moTrDs	1%	dNxj6Tr
16.	1%	5mhMP1g	1%	EesF	1%	53IjRUuIYM		IBNpSHpGke		tfqQppI
21.	1%	hYx	1%	DwX4coBh		IR3VF32fWl	1%	77ak5ejh2B	1%	pvxsryho6G

17. Fidelity International Capital Appreciation Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 33,0% / 16,5% / 9,5%

“The investment seeks long-term growth of capital. The fund normally invests primarily in non-U.S. securities, including securities of issuers located in emerging markets. It normally invests primarily in common stocks. The fund allocates investments across different countries and regions. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.”

1.	2%	1kk1Se	2%	Mt1MTii5Nx	2%	kVmgRxDiNg	2%	Q7mFMDvf5S	2%	uM9F3aqxVW
6.	2%	bKO	1%	ARMW6thmyX	1%	4cAATVxJ	1%	1cc2CaUdSg	1%	xSMB1m
11.	1%	51HnOV4	1%	OT5UP7j45	1%	K6QZCz	1%	7S8Y	1%	fOycLyW
16.	1%	UO4eEFoPjT	1%	d0nWztNuK4	1%	vAN1YDbwCY		88Lf0cFUcr	1%	fR1nZVPkOH
21.	1%	pI7RhjJ0HI	1%	KsjS	1%	dppkY	1%	jeJRZU3rOX	1%	NOMExghGQc

18. John Hancock Funds International Growth Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 27,5% / 15,1% / 9,1%

“The investment seeks high total return primarily through capital appreciation. The fund invests in equity investments that the manager believes will provide higher returns than the MSCI All Country World ex-USA Growth Index. Under normal market conditions, it invests at least 80% of its total assets in equity investments. The fund primarily invests in a diversified portfolio of equity securities of foreign companies in a number of developed and emerging markets outside of the U.S. It typically invests in companies with a market capitalization over $3 billion.”

1.	5%	IpbVow	4%	EMKfFjpEO8	4%	QgWcPpysOA	4%	ewm3ynDFHe	3%	t8XBrap0
6.	3%	HhwAvoOpQ0	3%	2u8O5HD6M2	2%	jYItJUpWEN	2%	wNTV8hKB	2%	fFKryE
11.	2%	UTjQBt	2%	YEdd	2%	ThgkAZeZWx	2%	17WHdE7onf	2%	swkQKmO2i
16.	2%	1EgXTMuoR	2%	QPu1VZ	2%	BbvCEXPYct	2%	haOvL434Q	2%	CtpH73ZmbU
21.	2%	alE		wthhIsj	2%	bWfQHd	2%	Z6Kdp6m95e	2%	erXEl6yVz

19. Fidelity International Growth Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 34,0% / 15,4% / 9,1%

“The investment seeks long-term growth of capital. The fund invests primarily in non-U.S. securities, including securities of issuers located in emerging markets. It invests primarily in common stocks. The fund invests in companies that Fidelity Management & Research Company (FMR) believes have above-average growth potential (stocks of these companies are often called "growth" stocks). It allocates investments across countries and regions. The fund uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.”

1.	5%	eZfzWg	4%	C623nlULPQ	4%	23l	4%	IAd9DBuRYf	3%	QCCKsRL
6.	3%	ypUkmwn0	3%	Pei	3%	s10QuFrxZz	3%	9cs6	2%	cp6on5a3N
11.	2%	p8yRH	2%	IPL1TjkiOj	2%	6cLv3WWofv	2%	j9xC6f	2%	fWOY
16.	2%	iyWKCIPPdq	2%	rep	2%	62tzWowZuP	2%	bD6tQwxdGz	2%	JXHn8LSwj8
21.	1%	8M81YFuUD9	1%	XThz04auqu	1%	Rfgmpy	1%	zNI7		A9ksnWe4p3

20. MFS Global Equity Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 30,2% / 13,2% / 8,9%

“The investment seeks capital appreciation. The fund normally invests at least 80% of its net assets in equity securities. Equity securities include common stocks and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. It may invest its assets in the stocks of companies the advisor believes to have above average earnings growth potential compared to other companies (growth companies), in the stocks of companies the advisor believes are undervalued compared to their perceived worth (value companies), or in a combination of growth and value companies.”

1.	3%	Mo8sZiRjSG	3%	yVOQ	3%	LZ0rGHQZk	3%	sS1VSDx	3%	lyseHALOH
6.	3%	B3Sbt1	3%	bkv5vhonjs	2%	OzqOzTPdkS	2%	MMUtFPvAKT	2%	dFaAWZumd0
11.	2%	3FxsUb	2%	RtQuWt	2%	93zJd	2%	r2AhPPWhmt	2%	hl0aIYGYfy
16.	2%	yudrz4Cweh	2%	NOduftlpRy	2%	r3Tgi	2%	sliyJu0iTH	2%	JgobpK0
21.	2%	VouXtwdEua	2%	ZI5k1N	1%	UVDH8fXymw	1%	BY13Wa	1%	N9

21. Fidelity Overseas Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 28,4% / 12,4% / 8,7%

“The investment seeks long-term growth of capital. The fund normally invests at least 80% of assets in non-U.S. securities. It normally invests primarily in common stocks. The fund allocates investments across different countries and regions. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.”

1.	2%	4Sbay42H7F	2%	RaUXYpe9kF	2%	bYWjwty7RH	2%	m7LI57	2%	4vVP2ydI
6.	2%	Qox	2%	SxXpHq	2%	y6np	2%	fD5rgeKtQw	1%	ncdIQ
11.	1%	yXa95x9	1%	2cNSyPKJrL	1%	lD1B3E	1%	uSmQbF	1%	qcBxkNMjIf
16.	1%	vD76723Qxp	1%	vHFigPLZ9I		C8xWJuNlS0	1%	KF9K0T5jSC	1%	LOOCkg4dv0
21.	1%	yxm9fcsxw	1%	MS7	1%	lyI2SJjq	1%	CmYtbaRu	1%	reIm7D4uN

22. MFS Institutional International Equity Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 28,4% / 13,7% / 8,1%

“The investment seeks capital appreciation. The fund normally invests at least 80% of the fund's net assets in equity securities. It normally invests the fund's assets primarily in foreign securities, including emerging market securities. The fund normally invests the fund's assets across different industries, sectors, countries, and regions, but it may invest a significant percentage of the fund's assets in issuers in a single industry, sector, country, or region.”

1.	4%	lMwlrv	3%	4biVs8cHBh	3%	rotpDQQIFf	3%	DAKXck9k	3%	mOCTcXAvHp
6.	3%	UQh	3%	lT7f	2%	lC1ekgp42l	2%	CsBDgCvRuM	2%	6fP9e5le
11.	2%	ouk58r0	2%	qRznjsb3zd	2%	xXhtfMheFK	2%	4D34ng	2%	OD73F
16.	2%	oDwyo3KGvB	2%	TbhiHaGpk7	2%	NRkToSnH	2%	BA5tj7	2%	Ruur0j4lqs
21.	2%	Lv7Z	2%	WTODVFXwrf	2%	Nlml1a5T	2%	e7Afw8Wx7	2%	jE6Esb2r

23. Harding Loevner International Equity Portfolio

Notation Morningstar : Performance annualisée à 1/3/5 ans : 25,2% / 11,9% / 7,7%

“The investment seeks long-term capital appreciation. The fund invests in companies based in developed markets outside the U.S. as well as in companies in emerging and frontier markets. It normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks, preferred stocks, rights and warrants issued by companies that are based outside the United States, securities convertible into such securities (including Depositary Receipts), and investment companies that invest in the types of securities in which the Portfolio would normally invest. The fund normally holds investments across at least 15 countries.”

1.	4%	JPuEMQeCLc	4%	rw7GDk	3%	SQ8336qj2V	3%	jFt9CxXF	3%	NuI
6.	3%	DApllur	3%	IVEtLo3	3%	OdT0Tw2TXC	3%	RGHMY4XUff	3%	jqbuG41FFZ
11.	2%	1tpPH96VPm	2%	xoy5rG7lKz	2%	RRosW	2%	qFqYBwcX	2%	KQxjJ
16.	2%	EZ6brtR6UB	2%	C9VK1qvAsJ	2%	JhmG00s	2%	fBDhm8	2%	oewMSF864L
21.	2%	kUhxGm	2%	gj12QK3SYd		bpO8yIKlKw	2%	d6n2FFbxM		xjPBQ2uqDY

24. FPA International Value Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 24,1% / 12,0% / 7,5%

“The investment seeks to provide above average capital appreciation over the long term while attempting to minimize the risk of capital loss. To pursue the fund's investment objective, the fund's portfolio manager (the "portfolio manager") primarily invests in equity securities of companies of all market capitalizations domiciled in jurisdictions outside of the United States. The fund invests in a selection of number of companies that the fund's portfolio manager believes are high quality and financially strong, and that have management teams that build shareholder value over time. The fund is non-diversified.”

1.	5%	IU23IW1Ofg	4%	1Q8T2V5TRb	3%	3X7	3%	8cyAd4uSd	3%	T7uENEI
6.	3%	lvAEYyLmvg	3%	DdAg2uasb	3%	ehZ4KSX4Fd	3%	5yTz9		MXlTA
11.	3%	K0bqDxGJd8	3%	yZZ0tgHTTl		dCGU7r8Vm9	2%	qyHDm4wU		2TWvajx7o
16.	2%	BtHyLUJdXk	2%	yZ0OVP		Wmkbu		9RiztsMLS4		4VDjA2o
21.	2%	jdQAdt6	1%	NElos71v	1%	eWYolD	1%	Dxz1IC

25. T. Rowe Price Institutional International Disciplined Equity Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 23,5% / 10,5% / 7,3%

“The investment seeks long-term growth of capital through investments in stocks of non-U.S. companies. The manager expects to primarily invest in stocks of companies located outside the U.S. Under normal conditions, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in stocks of non-U.S. companies and no more than 15% of its net assets will be invested in stocks of companies in emerging markets. It may purchase the stocks of companies of any size, but typically focuses on larger companies, and does not emphasize either a growth or value bias in selecting investments. The fund is non-diversified.”

1.	2%	LsrL6	2%	DYudcl9HE	2%	uturw4i4D3	2%	dKO4eyV2Yp		OyhpuiqV
6.	2%	lxLuD14		b7iA3ZGC7	2%	p3EYq2		X16WA3RyWC	2%	NBUrLUpoaw
11.	2%	k6NwlcFShd	2%	jKVS63XLuG	2%	LH958J9nUT	2%	XtMRCthhIy	2%	Lw6CdsYq3t
16.	2%	H5MPhWIsuf	2%	Bgtv1Ue2bG	2%	0L1	2%	76hIOhjKoc	2%	n8BeX2TzGZ
21.		TyLsxUwqXM	1%	xUgCtE6e9S	1%	L5Kse	1%	hjpWDVUjXd	1%	BAL8oVUYhk

26. JOHCM International Select Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 19,0% / 10,3% / 6,3%

“The investment seeks long-term capital appreciation. The fund invests, under normal market conditions, primarily in equity securities of companies headquartered outside the United States, including those in emerging market countries. The fund may invest in foreign companies of any size, including small- and mid-capitalization companies, in order to achieve its objective. Equity securities include common and preferred stocks, rights and warrants.”

1.	3%	v2PMWkmVtf	3%	JKbZgW	3%	CJsmfYy3J	3%	leVbTqaF0p	3%	jQPAR9O3le
6.	3%	24MbEj9Tg		ZTPeKuZjvh	3%	gCHNGlrrHS	3%	upIges4Sx		xabZYhytD
11.		mhUS	3%	GmMX7xlO9A	3%	kol2Lp	3%	2eNagXMy3O	3%	DTrw2PHjM
16.	3%	eo2QHeRFTy	3%	CVI	3%	ZgdMAoR	3%	H1KqkiXPTl	3%	SgE
21.	3%	KGZKQU7	3%	StvTM6QJ9	3%	54dqr		mLqvEim7dR	3%	M9lJ

27. DFA International Core Equity Portfolio

Notation Morningstar : Performance annualisée à 1/3/5 ans : 21,7% / 8,8% / 6,2%

“The investment seeks long-term capital appreciation. The fund purchases a broad and diverse group of securities of non-U.S. companies in developed markets with a greater emphasis on small capitalization, value and high profitability companies as compared to their representation in the International Universe. As a non-fundamental policy, under normal circumstances, it will invest at least 80% of its net assets in equity securities.”

1.	1%	4n18f8		m72awXBncV	1%	ON	1%	IwvpkDod4l	1%	x9zOE6UbgN
6.	0%	tucxsqL	0%	ju2DR	0%	MC2JPjQac6		nlxldf8cR2	0%	vIqL4Vmdxx
11.	0%	xhBTBY5Ygb	0%	XKLmDEB0S3	0%	KrgOT82I	0%	HFiUCAK0L9	0%	R5Zx51IbvG
16.	0%	XyPW	0%	DMvRWDo2D7	0%	DAew2ilKga	0%	GQGkSnOq	0%	DWc9YHC8XR
21.	0%	dqMJmdgioX	0%	M9G08wfMZ	0%	Klb5Wuv	0%	7cv5g	0%	KsVP6IaMnU

28. Artisan International Value Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 24,0% / 9,0% / 6,1%

“The investment seeks maximum long-term capital growth. The focus of the investment process is on individual companies, not on selection of countries or regions. Under normal market conditions, the fund invests no less than 80% of its total assets (excluding cash and cash equivalents), measured at market value at the time of purchase, in common stocks and other securities of non-U.S. companies. The fund invests primarily in developed markets but also may invest in emerging and less developed markets.”

1.		mHAgnW1FiE	5%	nbEhy74jlx	5%	un6	4%	SVeOGdUTUz	4%	BJg2f4oq
6.	4%	FUIJ	3%	GbOSyPQu	3%	u0JSw		f2BbH6QDly	3%	eJ5h1Wzp43
11.		eEi9X		linkrlqwxx	3%	ZuvFiQFOVh	3%	gKFBVVEKkS	3%	50vs26aG
16.	2%	25VP5	2%	X6w5eW5sfB	2%	3pHrvS	2%	O2jNvgAxul	2%	wWXgmq0Ngi
21.	2%	qdHEET	2%	aOp		3lDkJos4Fr	2%	ikXgvYnJRc	2%	6XnA0OkrTN

29. T. Rowe Price Overseas Stock Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 22,9% / 9,9% / 5,9%

“The investment seeks long-term growth of capital through investments in the common stocks of non-U.S. companies. The manager expects to invest significantly outside the U.S. and to diversify broadly among developed market and, to a lesser extent, emerging market countries throughout the world. It normally invests at least 80% of its net assets (including any borrowings for investment purposes) in non-U.S. stocks and at least 65% of its net assets in stocks of large-cap companies. The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.”

1.	3%	E14ks0	2%	2EnsANb7K4	2%	3OsyyEG7w3	2%	ngraoJv5	2%	WHounjjxs6
6.	2%	XmNPzznNYo	2%	n38ScNw	1%	kmzT7bKtpD	1%	gm1Gq	1%	BJBmvMUqTM
11.	1%	xAm7QNVizA		qZvnL3WpF5	1%	hO3ur8	1%	g8iLz	1%	ejY
16.	1%	AqOGXcaQ0k	1%	ntjomQQj	1%	CGUyXGay0C	1%	ut2fMgQ24r	1%	NOeP3
21.	1%	mW85WDpfe9	1%	PC58K56pL0	1%	W7aIwtq	1%	ZBGe5Hm4Is	1%	Uw1

30. Principal Diversified International Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 22,9% / 9,4% / 5,5%

“The investment seeks long-term growth of capital. The fund invests primarily in foreign equity securities. It has no limitation on the percentage of assets that are invested in any one country or denominated in any one currency, but the fund typically invests in foreign securities of at least 20 countries. The fund invests in equity securities regardless of market capitalization size (small, medium or large) and style (growth or value).”

1.	2%	9Sh2hh	2%	MT8F8w1hCz	2%	977eJsygEY		Jfx7q6g8VF	2%	pIQcr51iWZ
6.	2%	ziK5XhNt0u	2%	4fmdSy9w	2%	7wbA9fGPqf	2%	KA7i6hLhpy	1%	kNS5mz6eqr
11.	1%	x7En71aifZ		PzfON	1%	s6HdZ63CqK	1%	8IpoaLsvIl	1%	mmT
16.	1%	Tgmr	1%	Ctv8EI	1%	0rit6vq9F	1%	9OBle	1%	I1t3
21.	1%	j6aoVYbpzJ	1%	fBJ1	1%	CeO	1%	DRF0hKLeCM	1%	zW7UqYgWp4

31. First Eagle Overseas Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 17,6% / 6,4% / 5,4%

“The investment seeks long-term growth of capital by investing primarily in equities issued by non-U.S. corporations. The fund will invest primarily in equity securities of non-U.S. companies the majority of which are traded in mature markets (for example, Japan, Germany and France) and may invest in countries whose economies are still developing. It invests at least 80% of its net assets (plus any borrowings for investment purposes) in foreign securities and "counts" relevant derivative positions towards this "80% of assets" allocation, and in doing so, values each position at the price at which it is held on its books.”

1.		8rXydKa3zV	3%	6M9sS	2%	dwpuUb	2%	7w4l	2%	uCnmCJqRPh
6.	2%	XzzSjbPr76	2%	kxb8DcQYTh	2%	7O51U4	2%	D1lHD0r	2%	L0llb
11.	1%	JIAUK3fnvU	1%	pkoeDBYP1s	1%	B7Tjqu	1%	jUegIzSP8B	1%	1eCz0X
16.	1%	DpT8PRZDup	1%	E2ab9If73q	1%	uCRA5cl0T	1%	BQii	1%	UFpr9dqLvB
21.	1%	GdLRcD	1%	4PvjDku1Pw	1%	tvJUqKsZlz	1%	wwa4mEuQh0	1%	CMe

32. Vanguard International Value Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 20,4% / 9,6% / 5,2%

“The investment seeks to provide long-term capital appreciation. The fund invests mainly in common stocks of companies located outside the United States that are considered by an advisor to be undervalued. Such stocks, called value stocks, often are out of favor in periods when investors are drawn to companies with strong prospects for growth. It invests in large-, mid-, and small-capitalization companies and is expected to diversify its assets in countries across developed and emerging markets. The fund uses multiple investment advisors.”

1.	2%	fkjtYz	2%	Py8i1aLS		gwgyOZe0I6	2%	5Ch3UnxJTA	2%	RIrNPf9qO6
6.	1%	5zBy77cQPg	1%	BeewQz9Rcu	1%	USgm		rarAz0Hya9	1%	uopxLZAcyP
11.	1%	KvqBB8D3J6	1%	mMf	1%	dqeHoJO82	1%	XIBOZU	1%	0lMoXYazKH
16.	1%	Eu46F6akDU	1%	eaCS0rOhY	1%	LiDQXuW1yF	1%	BGU	1%	IkUDW
21.	1%	LLIUhl	1%	AXHWExf	1%	8yx15hNucu		g0owL0kqGV	1%	FBPiQ0XXun

33. Tweedy, Browne Global Value Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 14,6% / 7,3% / 5,2%

“The investment seeks long-term capital growth. The fund invests primarily in foreign equity securities that the adviser believes are undervalued but may invest in U.S. securities to a limited extent. The Adviser seeks to construct a diversified portfolio of stocks from a variety of industries and countries. The fund invests primarily in equity securities of foreign issuers, but also invests on a more limited basis in U.S. equity securities when opportunities appear attractive.”

1.	5%	U56tvo	5%	xJ6udL	4%	cNheEl	4%	WcDWJsSt6B	3%	TaTT1PTHDw
6.	3%	s4Pu3MdaOJ	3%	5t6A	3%	08Glr2MTct	3%	Lc8VbZtC	3%	NlpGD
11.	3%	GreZkXl5kz	3%	LyNFiFeITq	2%	ZQ06eVNuob	2%	OklEAVw5Dz	2%	sXdmUf
16.	2%	DMZalmaKcU	2%	sW85x2RmMK	2%	iRWQR4hoUc	2%	bOMd7l7wRS	2%	wr3i4ho4Kw
21.	2%	6GWV5VpAiT	2%	UvEtJfeN9d	2%	RWn	1%	gtyzXlcU25	1%	sjWNzts4Yz

34. Hartford Schroders International Multi-Cap Value Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 18,6% / 7,3% / 5,1%

“The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its total assets in a diversified portfolio of equity securities, or derivative investments that provide exposure to equity securities, of companies located outside of the United States that the fund's sub-advisers consider to offer attractive valuations. It invests in a variety of countries throughout the world including emerging market countries and may, from time to time, invest more than 25% of its assets in any one country or group of countries. The fund may invest in companies of any market capitalization.”

1.	1%	MHYIAo5vYj	1%	OsPgPxc4	1%	ef6h86	1%	xr7BHKAIRG	1%	ULh3Vf8hXH
6.	1%	6lTnCZVvdl	1%	MEtM8	1%	nQ5etz99Kq	1%	R8BnNiYfSq	1%	0O5cNzz
11.	1%	2wLIqOmsaO	1%	u7AyI1	1%	VtCe	1%	ZoMv4xNYAW	1%	uHgJnyZLO
16.	1%	BbaXql02sg	1%	wbuP2mknWf	1%	NZWxltoW	1%	5XfsD	1%	Cenk9txpKh
21.	1%	dfbkrm7Rc8	1%	WRqwwAhY	1%	bQgsBw2OQ6	1%	IIxauRi1ow	1%	lWtXbSYtev

35. Oakmark International Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 24,2% / 7,3% / 5,1%

“The investment seeks long-term capital appreciation. The fund invests primarily in a diversified portfolio of common stocks of non-U.S. companies. It may invest in non-U.S. markets throughout the world, including emerging markets. Ordinarily, the fund will invest in the securities of at least five countries outside of the U.S. There are no geographic limits on the fund's non-U.S. investments. The fund may invest in securities of large-, mid-, and small- capitalization companies.”

1.	4%	MvGVAmea	4%	Rs4VcStnVC	4%	powdULKipt	4%	VLRJlomjJh	4%	NF43ATa3pS
6.	3%	Ux0vBJy	3%	cyedEbMhMT	3%	qH08Z4ejmY	3%	4fMZJ3L6uT	3%	H6Okk
11.	3%	yoebizZlIJ	3%	LC2ICn9	2%	uaqa8lQmZO	2%	4vg0	2%	k5zQSr67Xt
16.	2%	k9dpc		rNlF2	2%	1r5qeha	2%	1O2KnEFA8E	2%	YJeC2aI
21.	2%	PGjjT	2%	RwJM3ctRqJ	2%	Yia2USa7fd	2%	AMA	2%	g6zaayb

36. Transamerica International Equity I

Notation Morningstar : Performance annualisée à 1/3/5 ans : 21,1% / 7,7% / 5,0%

“The investment seeks maximum long-term total return. The fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in equity securities of foreign companies representing at least three countries other than the United States. The sub-adviser will emphasize established companies in individual foreign markets and will attempt to stress companies and markets that the sub-adviser believes are undervalued. The fund will invest primarily in securities of companies domiciled in developed markets, but may invest up to 10% of its assets in securities of companies in emerging countries.”

1.	2%	o8wf	2%	79JfbK	2%	2PjQKInwBy	2%	dknVrFM	2%	uAvyh
6.	2%	uxFUi	2%	USdJB3JIAs	2%	49f576eLHD	2%	mCm33C	2%	s3B
11.	2%	aOsbUXU	2%	hsQ2	2%	2iVsEnN	2%	k4i7MHKkcw	2%	k0WiZf2M
16.	2%	mTrqP	2%	Z7yHRl6tUJ	2%	IqO	2%	LuyGD540sX	2%	MSg6l66VZ2
21.	1%	KfQDa4Po	1%	OuGT19QMWU	1%	qKHNhKrsqK	1%	PJrHooIH3	1%	FjXJzvNYJO

37. Wells Fargo International Equity Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 15,0% / 5,7% / 4,7%

“The investment seeks long-term capital appreciation. The fund invests at least 80% of the fund's net assets in equity securities of foreign issuers. It invests up to 30% of the fund's total assets in emerging market equity securities; and in securities of at least three different countries including the U.S. The types of securities in which the fund normally invests include common stock, preferred stock, rights, warrants and American Depositary Receipts (ADRs).”

1.	4%	usZyCQ8iI4	3%	EtNHAo5eWR	3%	5XtxRFwjSk	3%	MIN89w05ei		K3B62Nf9mI
6.	3%	kNtgRozCtJ	3%	po	3%	YgaWMxJrwI	3%	ciQrZrUN	3%	gAe8nsY
11.		BXyfbJk8my	3%	s90	3%	nHEf5Q	3%	vXXlwjDkTN	3%	Z2GbnzHU8A
16.		cWXXYsi8as		5oQ5pevvMb		1QMlYwT8mo		2oT5llTGXX	2%	nHrfX0nLFl
21.	2%	eWm6MH5ALI		XK4dnPdp2J	2%	MnktqJ5	2%	pfB	2%	Oo3

38. American Beacon International Equity Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 19,5% / 7,6% / 4,2%

“The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks and securities convertible into common stocks (collectively, "stocks") of issuers based in at least three different countries located outside the United States. It primarily invests in countries comprising the Morgan Stanley Capital International® Europe Australasia and Far East Index ("MSCI EAFE Index"). The MSCI EAFE Index is comprised of equity securities of companies from various industrial sectors whose primary trading markets are located outside the United States.”

1.	3%	25yTHq		TGg9iIqVj1	2%	VoRtKd7Kt0	2%	UljuwVE6lH	2%	bzbkzDO8
6.	2%	wL1HCA62WZ	2%	jzL	2%	NwXHyR	2%	6V1xYJzeyT	2%	qH
11.	2%	12tCOMw	2%	YC3kaH1qki	2%	4N5	2%	CZ6zYeQkAH	2%	6QbMt
16.	1%	OeGqGsR2GI	1%	APe1	1%	7QDBQ3FlyA	1%	0GB2uE9PU	1%	v7wKOGjBEd
21.	1%	NfxpidZA	1%	zjg6nBmvfj	1%	JXWjx	1%	Z1L1l6E1br	1%	Q7I3n

39. Causeway International Value Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 19,8% / 7,3% / 3,7%

“The investment seeks long-term growth of capital and income. The fund invests primarily in common stocks of companies in developed countries outside the U.S. Normally, it invests at least 80% of its total assets in stocks of companies in a number of foreign countries and invests the majority of its total assets in companies that pay dividends or repurchase their shares. The fund may invest up to 15% of its total assets in companies in emerging (less developed) markets.”

1.	5%	C3zUE3hKrY	4%	OlxLQmT0mY	4%	dOEx	4%	I4Dz2aZlH	3%	YiLntFL1DR
6.	3%	ic9eO	3%	fk0	3%	5ck05uE	3%	GQo6wLTCi4	3%	zjUr4UcT
11.		yABH4nh1M5	3%	vnTsT	2%	wC11W7xWHG	2%	UUKdnj1qJt	2%	xwjolH44
16.	2%	t5n3nKBbtu	2%	3jvUq	2%	z1	2%	Q3tJQ	2%	hDy2b3vUNh
21.	2%	4eQ		9I3XRRcKV	2%	BJMU4eK54z	2%	xMqtLAE7nU	2%	XXnM8

40. Dodge & Cox International Stock Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 22,8% / 7,7% / 3,7%

“The investment seeks long-term growth of principal and income. Under normal circumstances, the fund will invest at least 80% of its total assets in equity securities of non-U.S. companies, including common stocks, depositary receipts evidencing ownership of common stocks, preferred stocks, securities convertible into common stocks, and securities that carry the right to buy common stocks. The fund typically invests in medium-to-large well-established companies based on standards of the applicable market.”

1.	3%	0L1pcv	3%	s3v4D4uw82	3%	PCqezWdEs	3%	UlazUd0y	3%	MGtv7TVcLo
6.	3%	8lDFMEFnV	3%	IoT7r	3%	TtlYf233PY	3%	ggJcVtNgly	2%	RWOuvJZ5lf
11.	2%	VwElnWYa	2%	X4IxE28XfQ		zbh1MF0wwu	2%	lORdr4EUXQ	2%	FbmBaV5C
16.	2%	EaZ6ACJrSw	2%	YdLfzIt7BS	2%	jCOWt7K5IY	2%	duQh2	2%	gpItQ
21.	2%	bQwmrU0dy7	2%	dZSAj22	2%	onaUN9jvv6	2%	gHNqeOmuF7	2%	dwlNYyl

41. Brown Advisory Global Leaders Fund

Notation Morningstar : Performance annualisée à 1/3 ans : 34,0% / 20,5%

“The investment seeks to achieve long-term capital appreciation by investing primarily in global equities. The fund aims to achieve its investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities. It also will invest at least 40% of its assets outside the United States, or if market conditions are not favorable, at least 30% of its assets outside the United States. The fund will hold securities of issuers located in at least three countries. Its non-U.S. investments may include equity securities issued by companies that are established or operating in emerging market countries.”

1.	8%	3GflOVLKq	5%	IhM4OMM9	5%	XCT3	4%	eyOXM3ITj8	4%	GUYje3WoHR
6.	4%	KxUyhCnUpB	4%	oAElnImeVP	4%	BQwiy6ADIE	4%	RZ4UJfSbZc	3%	xuKXqUaSEP
11.	3%	Lzz9nZIH	3%	xjop87PaJn	3%	fkNSerGLr6	3%	lERIAhZGAV	3%	99tY4EILvG
16.	3%	4qqWm8IN0l	3%	SNV7nA	3%	TYIdzj	3%	vpv8p9mZRn	3%	o8MCZuTKdZ
21.	3%	1oUOU4Lj		b3Dy66kiDj	3%	NQEpm6MHen	2%	oSX3TXnvi8	2%	p6VElY9mi6

42. Polen International Growth Fund

Notation Morningstar : Performance annualisée à 1/3 ans : 25,9% / 16,6%

“The investment seeks to achieve long-term growth of capital. The fund typically invests in a focused portfolio of approximately 25 to 35 common stocks of large capitalization companies (market capitalizations greater than $5 billion at the time of purchase), including companies in both developed and emerging markets, that, in the Adviser's opinion, have a sustainable competitive advantage. It invests primarily in non-U.S. equity securities. The fund is non-diversified.”

1.	11%	jUO	8%	lb73Si	6%	sqZnpdxGos		Z5z2	5%	QRY4kaw9cw
6.	5%	9phNgP4r5	5%	VyLtKiZsM	5%	ork	4%	uL875BtMus	4%	GsWh4pafeU
11.	4%	tbPWCFh5	3%	9EQFTKxyNf	3%	mDqRp	3%	XEg0	3%	djdV6W
16.	3%	AgnZJJki1L	3%	dZF6LHtWoO	3%	2qXGB13fnX	3%	w3TAv21iyO	2%	65d0rWbfUP
21.	2%	ymG2Fnurhc	2%	ntbF3xot0S		LWIBu5qVmn	2%	xC75H6P2B

- Liste des fonds immobiliers analysés -

1. James Alpha Global Real Estate Investments Portfolio

Notation Morningstar : Performance annualisée à 1/3/5 ans : 31,2% / 11,8% / 8,8%

“The investment seeks total return through a combination of current income and capital appreciation. Under normal circumstances, the Portfolio invests at least 80% of its net assets (plus any borrowings for investment purposes) in real estate and real estate-related issuers or investments that provide exposure to real estate and real estate-related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities. Under normal circumstances, it invests at least 40% of its net assets in the securities of issuers located in at least three foreign countries.”

1.	5%	XdyZWPnIBX	5%	MBxwkQtFJd	5%	WArjjx3G	5%	R18OwnQJPc	4%	zDu8uP45Dr
6.	4%	f9Rc9v7nze		mLadtb	3%	rsZHo0rAnT	3%	BW1dr2lsO4	3%	pnJ62ZsyA6
11.	3%	wJpGv9rcW	2%	NLxz4GuNZe	2%	ZFzGE	2%	2BPXuXQhaA		t8LzdzvAdv
16.		reTrF32wB3	2%	PUF9z6MlCd		d90vrM4eyY	2%	ymRWIJMCKX	2%	qTwWVwY
21.	2%	b3LjC9Ks1N		uqsv0q4KBj	2%	mjF4iOUyud	2%	KixOQNE9	2%	ZHdjf4s3Tx

2. Janus Henderson Global Real Estate Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 30,9% / 14,3% / 8,7%

“The investment seeks total return through a combination of capital appreciation and current income. The fund pursues its investment objective by investing at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of real estate-related companies. Such companies may include those in the real estate industry or real estate-related industries. These securities may include common stocks, preferred stocks, and other equity securities, including, but not limited to, real estate investment trusts ("REITs") and similar REIT-like entities, such as foreign entities that have REIT characteristics.”

1.	4%	zPfH5jx0	4%	kYsg1rOJMF	3%	u9mFkzhmPb	3%	n8UZWFUgUY	3%	zFs53jhh1i
6.	3%	OSvq0L9zVn	3%	ArRmazPRv1		PMBJairx9z	3%	Hb1ZQubmbY	3%	1KkoRBOEwI
11.	3%	a87lZUVYsd	3%	RO4Hg3j6Ia	2%	FnPaQty5	2%	5J0	2%	moV6oumjr
16.	2%	Dx5RPlmeMg	2%	jE9rsMhngS	2%	YHIDoQm16U	2%	gM80bPFy7P	2%	xYqsnaUC2y
21.	2%	nB2XxXd37z	2%	EdZEs787cC	2%	Woz0dAUX7Y	2%	xE8KLBzN1O	2%	xLZeoPpRiz

3. Virtus Duff & Phelps Global Real Estate Securities Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 29,8% / 11,8% / 8,2%

“The investment seeks long-term capital appreciation with a secondary investment objective of income. The fund provides global exposure to the real estate securities market, focusing on owners and operators with recurring rental income. It invests at least 80% of its assets in equity securities issued by U.S. and non-U.S. companies of any capitalization that are principally engaged in the real estate industry, including common stock, preferred stock and other equity securities issued by real estate companies, such as REITs and similar REIT-like entities.”

1.	4%	2IGRIt9Xff	3%	YQPot4Fq	3%	qg5aBjDvqa	3%	DiC9j10MKO	3%	zRDENOHDmz
6.	3%	dZ4kGilcaH	2%	oyviLVIDcp	2%	C8GFNumS8k	2%	y4k7MXavLp	2%	mTY9C9LsjM
11.	2%	FI6Ky2OkIh	2%	IHyAapiDq2	2%	gXTWIjy	2%	GnK0LPJqVS	2%	qmcca7IXDb
16.	2%	WUrCK4eoT	2%	xBdWwVi0aT	2%	ucJqHQP	2%	OLcY8UXnHt	2%	fIajaCjDQn
21.	2%	ipsICeHXlR	2%	V2d8V	2%	vGwEeNI0wH	2%	KhaOSSwFjN	2%	5kg6cdkfTd

4. MFS Global Real Estate Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 26,3% / 11,2% / 8,2%

“The investment seeks total return. The fund normally invests at least 80% of the fund's net assets in U.S. and foreign real estate-related investments. It normally invests the fund's assets primarily in equity securities. The fund may invest the fund's assets in real estate-related investments of any size. MFS normally invests the fund's assets across different countries and regions, but MFS may invest a significant percentage of the fund's assets in issuers in a single country or region.”

1.	4%	FV2zxeON	4%	y8HK9CbkMf	3%	F2AKtdVILr	3%	kSqjrxl3	3%	R0CcdXtDp
6.	3%	uvCwaC4OWL	3%	WQuyvVfCGP	3%	CrhpEQEAOt	3%	4twDHjaGPW	3%	PnUNpRhF8h
11.	3%	CxwiuiD443	2%	MMSMNirEgj	2%	1HP4ko1wAi	2%	PLQ8aLhk6Y	2%	oS0w0m58RO
16.	2%	1FLdpkBU5F	2%	uozAKnQaNW	2%	Go9iDarl3m	2%	HUdzqKk	2%	Urpyeo9vsr
21.	2%	rOr4FfHGby	2%	V5xM4G4IEC	2%	U3jiuoBPYu	2%	2UnGbEkIZY	2%	1zyohfwAu6

5. Schwab Global Real Estate Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 27,8% / 10,8% / 7,8%

“The investment seeks capital growth and income consistent with prudent investment management. The fund invests at least 80% of its net assets in securities of real estate companies and companies related to the real estate industry. It invests in equity securities, primarily common stocks. The fund may invest a significant portion of its total assets in real estate investment trusts (REITs) and other similar REIT-like structures. It may invest in derivative securities, such as swaps, options, futures and options on futures, which are principally tied to the real estate industry, for hedging purposes and to seek returns on the fund's otherwise uninvested cash.”

1.	3%	xH3qKrqa		dieUhXK6uH	3%	uxeAPVKS1Z	2%	dx1HH550Aw	2%	AEN0iVyGku
6.	2%	nVa3xVikc9	2%	OU6NqYplfE		cETIAx7PJh		NPDpUBlf4q	2%	phv8qHOtFt
11.	2%	Gph7nXpe9B	2%	PeHOn39XlN	2%	LxACBCgrFv	2%	0BRguJ8sXI	2%	8oFzrnFvBI
16.	2%	pebmAgbpRA	2%	J63UkoVMBR		q8uK4NX7fI	2%	1KPoTs8W2e	2%	dnvH7dz
21.	2%	Go9yh	1%	5kN4sCavkX	1%	BdO0KL7ojy	1%	2M471Mqdfj	1%	v7wP78q0

6. Neuberger Berman Global Real Estate Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 26,6% / 11,4% / 7,6%

“The investment seeks total return. The fund normally invests at least 80% of its net assets in U.S. and non-U.S. equity securities issued by real estate investment trusts and common stocks and other securities issued by other real estate companies, including rights and warrants, and convertible and preferred securities. It will invest at least 40% of its total assets in securities that (a) are organized or located outside the U.S., (b) trade primarily in a market located outside the U.S., or (c) derive at least 50% of their revenue or profits from business outside the U.S. or have at least 50% of their assets outside the U.S.”

1.	4%	tek5oJWJol	4%	SfMGn	4%	oPYXZIr12s	4%	oxLBzYBl	3%	mhJEVLpVPX
6.	3%	nCbL7TF	3%	RHb3KfBH9D	3%	tGQiiHUQiP	3%	rsYne5bPj9	3%	bffCLAfQt4
11.	3%	WMRgEjQrqO	2%	TbMnyObwnU	2%	XyXleMERhi	2%	SCynd3blQ	2%	xNW3uGO2yb
16.	2%	y6Z7qKWoER	2%	N8jAncUbua	2%	aVPWj6qudI	2%	dk3Q6Kpa5q	2%	EpoGe8TRr4
21.	2%	7K1yQjc6vC	2%	YdMSC	2%	E97kabPYy0	2%	ycVcHgwISl	2%	evcZwaQZBs

7. DFA Global Real Estate Securities Portfolio

Notation Morningstar : Performance annualisée à 1/3/5 ans : 26,4% / 9,8% / 7,3%

“The investment seeks long-term capital appreciation. The Portfolio seeks to achieve exposure to a broad portfolio of securities of U.S. and non-U.S. companies in the real estate industry, with a focus on real estate investment trusts ("REITs") or companies that the Advisor considers to be REIT-like entities. It may pursue its investment objective by investing its assets in the DFA Real Estate Securities Portfolio, DFA International Real Estate Securities Portfolio (the "underlying funds"), and/or directly in securities of companies in the real estate industry.”

1.		uKOd4Fhzm3		T2ZYOhMCCt	4%	eKyUd5RHRF	2%	eCKauJCf	2%	RVuokzlfnT
6.	2%	RCR86Z2	2%	OTAFfG8F3z	1%	pLwChPR8B	1%	7DYAs7fC0A	1%	lEcYBwslri
11.	1%	Q0rpryqh2i	1%	VtRlg0O4hy	1%	xFOdBQEpV7	1%	tspRhM5Cof	1%	5F4BW1
16.	1%	QTO3GkpoSw	1%	j8oEhdVrma	1%	2rfndq72Ad	1%	F2PBIpXLgz	1%	ZmGr8Vauwx
21.	1%	Vd6GsS6FDQ	1%	hXlBaeX6kR	1%	0AbNx9s	1%	l5g	1%	QjnyReW6oK

8. American Century Global Real Estate Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 29,9% / 11,6% / 6,8%

“The investment seeks high total investment return through a combination of capital appreciation and current income. The fund invests at least 80% of its net assets in equity securities issued by real estate investment trusts (REITs) and other companies engaged in the real estate industry (collectively, real estate securities). It invests primarily in equity securities of companies located in developed countries world-wide (including the United States), but may also invest in emerging markets. Normally, the fund will invest at least 40% of its assets in securities of issuers located outside the United States.”

1.	4%	AgMuGqnA	3%	OCKEqjltdJ	3%	uDYItd473j	3%	faIYhEvN3s	3%	wfshNP5NRX
6.	2%	P5umq2M	2%	0Z1wjSFfSF	2%	cNoxvkDbif	2%	rFC6hmkdWb	2%	ONt2EL6oXU
11.	2%	glqNQXjSPQ	2%	bXKtGuTBmu	2%	FLwPm	2%	oBM9k1eS2q	2%	UYJM7kmeP
16.	2%	i4tI9jjpcZ	2%	crII7Z3a4i	2%	xFAddtQ	2%	YkgdOUvcEl	2%	o4GL1pfxG7
21.	2%	UwYE08IPXD	2%	nQmdYFJ51c	2%	4Ts1O0nFDE	2%	j8x	2%	qqSaUqrptY

9. DWS RREEF Global Real Estate Securities Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 25,1% / 10,2% / 6,8%

“The investment seeks total return. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity and debt securities issued by real estate companies, such as real estate investment trusts (REITs), REIT-like structures or real estate operating companies. It may invest without limitation in securities of companies engaged principally in the real estate industry. The fund may also invest a portion of its assets in other types of securities.”

1.	4%	5q5i3Ae7	3%	jvmrO6r6ad	2%	sOjdDHR	2%	Gee8rsEfs	2%	qgZjMMZ7mC
6.	2%	wrytxNf5YF	2%	VF6y0KcXJu	2%	d6ds2VqB8C	2%	YrlbjKyiH8	2%	M2jw37HnW3
11.	2%	HeMTsGLWcn	2%	1ElA2c9G	2%	mDB7ZLvWn6	2%	k6pwETQpoE	2%	aiL3JzZe6h
16.	2%	oVVldskYL3	2%	xU54NiiPWv	2%	sgtPIeWRyI	2%	klOjY3ARJg	2%	neK19cwrxP
21.	2%	zAmlVWJ5Rt	2%	S5xDoNADUz	2%	ySUujdZWHi	2%	NKLM7orDfF	2%	ICozN2Wv4T

10. Principal Global Real Estate Securities Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 23,9% / 10,9% / 6,7%

“The investment seeks to generate a total return. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of U.S. and non-U.S. companies principally engaged in the real estate industry at the time of purchase. For the fund's investment policies, a real estate company has at least 50% of its assets, income or profits derived from products or services related to the real estate industry.”

1.	4%	d23aTQ8Q	3%	tbNR2qh8ux	3%	5xdi7mk	3%	9ayfE	3%	Il5XI81rfS
6.	3%	OE4JC2sfIB	3%	vmxhY03GQ	3%	VbEBcJVmyp	2%	sKRXFGpYvw	2%	2hIa6cHu
11.	2%	GPQOmndf8K	2%	BzbUqHJHiC	2%	I4QTvBpSuO	2%	tLvPs6AltV	2%	lxuAtUnLMZ
16.	2%	6ioZzrwtLj	2%	3Vkvz0KcnC	2%	uew1RxzHuq	2%	o0XD9zoU3v	2%	4JEMAVV6vA
21.	1%	08GtGq4gdA	1%	9pN8bFKskc	1%	MpUgPgcwUl	1%	6PjlSsNxTM	1%	yxd5EGSkqr

11. GuideStone Funds Global Real Estate Securities Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 24,4% / 9,4% / 6,4%

“The investment seeks to provide long-term capital appreciation and current income. The fund invests mainly (at least, and typically more than, 80% of its net assets, plus borrowings for investment purposes, if any) in equity securities of real estate investment trusts ("REITs") and other real estate related companies. The adviser defines a real estate related company as one that derives at least 50% of its revenue from, or has at least 50% of the value of its assets in, real estate, including the ownership, construction, management or sale of real estate.”

1.	4%	XwzJcRl7		Nd8mrwCezu	2%	isJIbqbpE4	2%	y3ELd8P	2%	Oa4FN7TwRz
6.	2%	yZt7yuoaWe	2%	JlOeGeeVXu	2%	SmfAbar5xQ	2%	5tzCDACLNX	2%	9djl287CSJ
11.	2%	VrmB24NiVE	2%	W5n90Vz7yk	2%	obIPlMC5Rf	2%	fqiQPbWtG	1%	ojG6EFYd
16.	1%	aDyMeLZ1gQ	1%	GwR5YyhU	1%	HO2mrLcGy1	1%	SO6kHgBaWC	1%	husq2kzivt
21.	1%	UFTmiKyuTJ	1%	YVFmsXnzxn	1%	FbFOaowsfJ	1%	NuVTH1jrWh	1%	UnUacXh3h4

12. BNY Mellon Global Real Estate Securities Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 23,0% / 9,3% / 6,4%

“The investment seeks to maximize total return consisting of capital appreciation and current income. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in publicly-traded equity securities of companies principally engaged in the real estate sector. It normally invests in a global portfolio of equity securities of real estate companies, including real estate investment trusts (REITs) and real estate operating companies, with principal places of business located in, but not limited to, the developed markets of Europe, Australia, Asia and North America (including the United States).”

1.	6%	pyjqUFqU	3%	sKf1hs6o8j	3%	U0heBsvdkB	3%	uudCRf7	3%	nNz93sX0kp
6.	2%	9rOYji	2%	8ayvMued5P	2%	01NB6xMFCQ	2%	zSJ	2%	vzby6tcvkA
11.	2%	KkdHdJNLcr	2%	G182HqhTFz	2%	D2Q38DpodI	2%	W9NDp2d7YT	2%	ozUCb
16.	2%	7yB0GjVSVr	2%	YSbzqiQj6r	2%	HLAuWOSW6v	2%	wBG3nZwhza	1%	3B0Hfo7YKf
21.	1%	nDy3XZXII4	1%	cAVsc	1%	BGf8BcL7UT	1%	s9tqPMRIN0	1%	YwbTyVcL

13. PGIM Global Real Estate Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 24,8% / 9,8% / 6,0%

“The investment seeks capital appreciation and income. The fund normally invests at least 80% of its investable assets (net assets plus any borrowings made for investment purposes) in the equity-related securities of real estate companies, principally real estate investment trusts (REITs), and other real estate securities. Equity-related securities may also include common stock, convertible securities, nonconvertible preferred stock, American Depositary Receipts (ADRs), warrants and other rights that can be exercised to obtain stock, investments in various types of business ventures and similar securities. It is non-diversified.”

1.	5%	j36YCJRK	4%	M1BmFlvh4n	3%	NZLBcCmzYu	3%	mOdadB8kjv	3%	VWRNXyWVB5
6.	2%	hFbtHYE	2%	0Jl6oQkafr	2%	WnHBzRmuj3	2%	tjY65xEimU	2%	3hHC3FbE
11.	2%	TTyCWnPD5I	2%	gDp2HAcwu	2%	CVMVfcHgoZ	2%	jW3Og	2%	XyDqrQaXT6
16.	2%	8onys6R7Gj	2%	7CqKnU5PZJ	2%	SJ5MRMEBcF	2%	nBH2UI92p6	2%	ZGdRZoMgSw
21.	2%	SIsp1yQ1Fj	2%	IxaUf	2%	QBOjInhLeD	2%	iXkYPpsCFi	1%	TzdZweclZW

- Liste des fonds d’infrastructures analysés -

1. Lazard Global Listed Infrastructure Portfolio

Notation Morningstar : Performance annualisée à 1/3/5 ans : 22,3% / 12,5% / 11,2%

“The investment seeks total return. The fund invests primarily in equity securities, principally common stocks, of infrastructure companies and concentrates its investments in industries represented by infrastructure companies. It invests at least 80% of its assets in equity securities of infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, ports, telecommunications and other infrastructure companies, with securities listed on a national or other recognized securities exchange.”

1.	9%	44tFKupvnN	8%	HfVUlpF388	7%	auR4X65x	5%	ga7S	5%	aejvOxBvVR
6.	5%	KaHJjZWwif	5%	Lho1A	5%	e0zLhl9v8z	5%	S7aHvGkelj	5%	avUJiWfiu
11.	5%	3TR		1VGaHvlsru	3%	80P	3%	z7YuUbMvmK	3%	ChL7Oil
16.	2%	cslxphM	2%	x9DG	2%	dVmg5FUM1d	2%	SUswsiAFSD	2%	2JQt3ST9Xd
21.		BmhfNPAkPT		iLFKea6	1%	JI13AFTjXp	1%	iZ7YuvKIZY	1%	pTAs

2. Reaves Utilities and Energy Infrastructure Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 31,4% / 10,6% / 8,8%

“The investment seeks total return from income and capital growth. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities of domestic and foreign public utilities and energy companies. It has adopted a policy to concentrate its investments (invest at least 25% of its assets) in companies involved to a significant extent in the Utilities and/or Energy Industries. The fund may invest in municipal utility companies, including rural electric cooperatives and similar organizations.”

1.	5%	KzfpQhU1E5	5%	yRL2aKu4yd	5%	OLFtrqw	4%	deSTUjEOlx	4%	Fcmqe8DcYt
6.	4%	zKXjB08B	4%	jpMRLFrq6I	4%	p5kZIZVgmA	4%	tPHdO4o3		H0PkguNBQu
11.	4%	pyD8xA5P5i	4%	VLxRvKeG2b	4%	jGzrJ	4%	mrYIZCTkWh	4%	hhheyAF8
16.	4%	WKuB5	3%	EaJ0ZY58qj	3%	I88ux0EfTI		L0L	3%	V1X3U9r6lH
21.	3%	MZDrMCQ		y6BBl1XrDB	3%	DtmrvptsFv	2%	xKMJGJ2dbT	2%	YUpLwT2Wu

3. Voya CBRE Global Infrastructure Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 28,5% / 13,1% / 8,7%

“The investment seeks total return including capital appreciation and current income. The fund invests at least 80% of its net assets (plus borrowings for investment purposes) in securities issued by infrastructure companies. The Sub-Adviser expects to invest primarily in equity securities of companies located in a number of different countries, including the United States. The fund invests primarily in common stock, but may also invest in other equity securities including preferred stocks, convertible securities, rights or warrants to buy common stocks, and depositary receipts with characteristics similar to common stock.”

1.	5%	yS17X	4%	HQmPuZsnYW	4%	YCeMSMxrcD	4%	MjPWoBb0XI	4%	VAh8Gh62
6.	3%	gD4K	3%	vHI8yM8kIq	3%	CiCFggABar	3%	IzdMNC9HyW	3%	amrxCWllcP
11.	3%	1TMFGfQ79q	3%	gv2gStP	3%	QeTaJ05Mln	3%	7NJdGR	3%	HeBF4ZsXV2
16.	3%	6nZFSN	3%	meEK7FDr8	2%	H9zholh4QJ	2%	YOrK3rSLKv	2%	HIhtsiwIwe
21.	2%	jB9z7JX	2%	MvqvdDWUOL		U5wn0djU4Y	2%	poUUlgn2X8	2%	9qjfTRB72H

4. Frontier MFG Core Infrastructure Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 28,0% / 12,9% / 8,6%

“The investment seeks long-term capital appreciation. The fund invests at least 80% of its net assets in equity securities of infrastructure companies. It will concentrate in the infrastructure sector and utilities industry. The fund invests in a diversified portfolio of securities of infrastructure companies that subadviser has determined have an appropriate capital structure, are likely to generate reliable income streams and are likely to benefit from inflation protection. It is anticipated that the fund's portfolio will generally consist of 80 to 100 companies.”

1.	3%	5XU8M0Dw	3%	tfkC	3%	vrgJgrh5	3%	k5TnQpUQC2	3%	YBpZTDso0w
6.	3%	3pVIecTynY		xfGf5P	3%	pAA5		kr2LTl6yQD	2%	onaJC8mjFm
11.	2%	NVqF7oNi4D	2%	gKCJVIhtkP	2%	Eu90yq30so	2%	Zb06kleq58	2%	H6J9iZRmka
16.	2%	qW5RdPgpR1	2%	Yax1aM3kkw	2%	CUKXoFZApx	2%	KN2HaPn1wF	2%	Z9wSHTxfFU
21.	2%	GWlvgVpiRl	2%	YOQ15cc2OU		DPkOFaDY	2%	0jmFzMb7jW	2%	kiTGu

5. JHancock Infrastructure Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 23,4% / 12,6% / 7,6%

“The investment seeks total return from capital appreciation and income, with an emphasis on absolute returns over a full market cycle. The fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets in global securities of companies with infrastructure-related assets. For purposes of this policy, global securities include: common stock, depositary receipts, real estate securities, master limited partnerships (MLPs) (up to a maximum of 25% of the fund's net assets), preferred stock, rights, warrants, exchange-traded funds (ETFs), and debt securities (up to a maximum of 20% of the fund's net assets).”

1.	4%	Nnitw2GYt	4%	4k67z	4%	rQEGDUtR	4%	r47Ts0rCY5	4%	P24f7Ol
6.	4%	k6H6	4%	43KYy	4%	6ABDoT18BE	3%	97vvnPBsBs	3%	uUVtW0wyZN
11.		HUpLn4ieiL	3%	ZxKGJhOgju	3%	rKa		7lupIpTi7m		eiTLZc2rPL
16.	3%	gDbkzCklEg	3%	Pur6nwzToP	3%	PrmIA6J0Mn	3%	Gt83YoNa	3%	0XDcYLpSLw
21.		9QEvMWcx	3%	ZvELuY	3%	B0Iw3zRPSo	3%	wrNn	2%	oa1

6. Nuveen Global Infrastructure Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 29,7% / 12,7% / 7,6%

“The investment seeks long-term growth of capital and income. The fund normally invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in equity securities issued by U.S. and non-U.S. infrastructure-related companies. It normally will invest at least 40% of its net assets in securities of non-U.S. issuers and, in any case, will invest at least 30% of its net assets in such issuers. The fund diversifies its investments among a number of different countries throughout the world. Up to 25% of the fund's total assets may be invested in equity securities of emerging market issuers.”

1.	6%	oolwIqRylJ	5%	GhiX3TyEnV	5%	A24A	4%	iz6QRX1vhn	3%	ZXThnaNM
6.	3%	XLGvfZi4IW	3%	Frm7NXnP	3%	NXko3	3%	PzktTQ0X9	2%	V7nLNWA
11.	2%	BG4uEl42vz	2%	ExucWhTARp	2%	Sh8rs	2%	HTIr2ITYy7	2%	VRmO4ZTDBN
16.	2%	0zoKu2PYP3	2%	jZ6nR4SQcc	2%	5D0Yi13dTi	2%	GFzqMK1jqu	1%	VsLbZHsoAi
21.	1%	oj0raXdJu		2KErbgqtaS	1%	qKzzAhM98u	1%	sXIbk0ld2J	1%	1GciQVeJ

7. Aberdeen Global Infrastructure Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 28,4% / 13,4% / 7,4%

“The investment seeks capital appreciation; current income is a secondary objective. The fund normally invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of U.S. and non-U.S. infrastructure-related issuers. It maintains no less than 40% of its net assets (plus the amount of any borrowings for investment purposes) in the securities of issuers located outside of the United States and will allocate its assets among issuers located in no fewer than three different countries, one of which may be the United States.”

1.	3%	SQijnkfti1	3%	8edMDSRdwt	3%	3mOc2vwFj	3%	BAfnb	3%	HMsZodHA
6.	3%	lZdhN6efcO		4WLxfbKps4	2%	RltLfiXbr1	2%	Ro6m1Z5WCw		2xnCRzZKxQ
11.	2%	aNl7K5SUx4		Abz		IxbWenZIZh		PYdxCaOJ7s	2%	S72VBZ8qH
16.		Yum0kV7J	2%	BEs5cZrOkO	2%	P0JIC5bGbO	2%	Ed0lmR	2%	rlMxaJIzgl
21.	2%	yPwn		LX37P0S3du	2%	tojlVpD4qP	2%	2pgpTXFbl2	2%	2snx6feQcE

8. Cohen & Steers Global Infrastructure Fund, Inc. Class I

Notation Morningstar : Performance annualisée à 1/3/5 ans : 24,7% / 12,6% / 7,3%

“The investment seeks total return. The fund invests at least 80% of its total assets in U.S. and non-U.S. common stocks and other equity securities issued by infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, marine ports, telecommunications companies and other infrastructure companies. It invests at least 40%, unless market conditions are not deemed favorable by the Advisor, in which case the fund would invest at least 30%, of its total assets in companies organized or located outside the U.S. or doing a substantial amount of business outside of the U.S.”

1.	7%	KBzhrakzFs	4%	xhx7CQzcCX	4%	iPk79UWGR4	4%	2lm8tOFYlN	3%	5zE2EeMkON
6.	3%	Ctp9bpKOZY	3%	xJAfTWchzM	3%	Nop2KTBkB4		WQZsOiWnGc	3%	E8AHZdrc3G
11.		71AX0S1TWs	3%	8Fe6kUMWPL	3%	7RmGCzqtF2	2%	0tIYWf5SpR	2%	Z5cVS0jnKy
16.	2%	vfnBU12N		KIWz		HxCGge	2%	b3rawoFtDH	2%	cO5i8I3pIU
21.	2%	TXtnALZzzM	2%	1MCE18BAaO	2%	WZWkVR9kH4	2%	D7f8VH48Z4	2%	u6rUZXsBdF

9. Virtus Duff & Phelps Global Infrastructure Fund

Notation Morningstar : Performance annualisée à 1/3/5 ans : 27,9% / 12,1% / 7,1%

“The investment seeks capital appreciation and current income. The fund invests globally in infrastructure companies involved in the energy, utility, transportation, and communications industries. Under normal market conditions, it invests at least 80% of its assets in dividend paying equity securities of infrastructure companies that are located in three or more countries, one of which will be the United States. Under normal market conditions, the fund will invest at least 25% of its assets in securities of U.S. issuers.”

1.	6%	o0tkebenLZ	6%	kVNKSWh8Qt	5%	oZv4byKfE0	4%	qHHCusbPCB	4%	oWSU3U4ibq
6.	4%	hPZNtOz3uq	3%	uHPlA7erjM	3%	0pdEi	3%	c830ejyPF6	3%	AcjHGX
11.	3%	WrGt	2%	Uxy1yzhQ	2%	iQ8hAkQD	2%	HJXRlcWUuB	2%	HOaMBh2qEL
16.	2%	dGYRSXYXJh	2%	swmXB6LdlP	2%	jJ3xOLjDHz	2%	9vQRoMuFjC	2%	mcEU6yhXiQ
21.	2%	UNYF03dL6I	2%	f28TH6	2%	jbGPqUcrV	2%	VQ2CBQCfV	2%	CVrSnYGz6

10. First State Global Listed Infrastructure Fund

Notation Morningstar : n/a

“The investment seeks to achieve growth of capital and inflation-protected income. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in publicly traded equity securities of infrastructure companies listed on a domestic or foreign exchange, throughout the world (including emerging markets), including the United States. The advisor defines infrastructure companies as those companies that derive at least 65% of their operating earnings from the ownership or operation of infrastructure assets.”

1.	5%	k4qzxY3ISf	5%	zFzKgVXBT4	5%	oDcyNUf1dA	4%	PcEpkLNelH	3%	86JKK1GRhX
6.	3%	UFKNH2hVOD	3%	a7M0IzfGqh	3%	GiR3962kBC	3%	9UVK68WKCh	3%	OMIsgt3PwE
11.		sHSRF2VBXV	3%	m1COO6bhBm	3%	rpU	3%	tiiJx5	3%	OY1pUse8YK
16.	3%	hYAn3WbqI7	2%	uwxKgu4rCm	2%	ZYde93fDqP	2%	g3fQxLMB5T	2%	NXbfZ
21.	2%	km4xbSYt	2%	74Bwz	2%	SuT6RWPw	2%	sMzt6G3	2%	ty5uyxD60I

11. Centre Global Infrastructure Fund

Notation Morningstar : n/a

“The investment seeks long-term growth of capital and current income. The fund is a diversified fund that will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities issued by U.S. and foreign (non-U.S.) infrastructure-related companies. Under normal market conditions, it will invest at least 40% of its net assets, plus the amount of any borrowings for investment purposes, in securities of companies organized or located in at least three non-U.S. countries.”

1.	8%	Byp3	8%	FORfb1rUWL	6%	K0aGRVgX	4%	uh6xJqIj	3%	cqxJxDZV0A
6.	3%	NADNMIivER	3%	BVZT5hns2v	2%	Hcn1M	2%	56fpC9SVrS		oESgAwWFLj
11.	2%	lkqDsxGSWs	2%	5WkjwWATjg	2%	o24PtkUp4d	2%	hdrT2WCkQX	2%	7paDpp6Vrs
16.	2%	XtviGLhaGh	2%	aDmTc0Gfez	2%	u0RQ6GzJq9	2%	5jYnvknuXA	2%	Y2QwVe3dpZ
21.	2%	2VlEjJw6sU	2%	WzVSk6LGAx	2%	mBQeWKNvJ0	2%	wPt4RaP8W	2%	jOcjLYnA61

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