Comment tirer profit de la poche obligataire en 2018 ? Architas La gestion discrétionnaire :  facile et rentable, pour vous et vos clients Comment tirer profit de la poche obligataire en 2018 ?

€40mia ARCHITAS Qui sommes-nous? FILIALE A 100% du groupe AXA Nu, om te beginnen: wie is Architas? Architas is 100% onderdeel van de Axa-groep. €40mia AUM, waarvan €1,5mia discretionair beheer in België. Hoofdkantoor in London, maar vestigingen over gans de wereld. Architas voert dus het beheer uit voor 3 FoF’s binnen deze “Pension Plan Pro”-oplossing. Jullie vragen jullie misschien af waarom er gekozen werd voor Architas? Wel, omdat wij dé specialist zijn in selectie van fondsen (multi-manager aanpak), met daarbij als grote troef onze OPEN ARCHITECTUUR FILIALE A 100% du groupe AXA Actifs sous gestion & conseil Focus sur multi-management

LE POSITIONNEMENT D’ARCHITAS AU SEIN DU GROUPE AXA BUREAUX ARCHITAS Source: Architas, January 2018

ARCHITAS BELGIUM

AXA INVESTPLUS Une solution sur-mesure pour la gestion sous mandat Définir le profil d'investissement. Ce profil reflétera le niveau de risque que votre client est prêt à accepter. Architas a créé six stratégies d’investissement: FLEXIBLE ALLOCATION CONSERVATIVE DEFENSIVE NEUTRAL DYNAMIC AGRESSIVE

ARCHITECTURE OUVERTE List for illustration only.

L’IMPORTANCE DE LA DIVERSIFICATION DIFFERENT TYPES OF ASSETS EQUITIES BONDS CASH ALTERNATIVES

L’IMPORTANCE DE LA DIVERSIFICATION DIFFERENT TYPES OF ASSETS BONDS CORE EQUITY CORE BONDS SATELLITE EQUITY SATELLITE CASH ALTERNATIVE DEFENSIVE

L’IMPORTANCE DE LA DIVERSIFICATION DIFFERENT TYPES OF ASSETS Govies, high quality corporate bonds, Inflation Linked Bonds Low tracking error (benchmarked), geographic regions Convertibles, High Yield, Emerging Market Debt Themes, investment style, sectors, market capitalization, specific regions,… Equity Market Neutral, Event-Driven, Macro/CTA, Equity Long/Short, Multi-Strategy Cash

L’IMPORTANCE DE LA DIVERSIFICATION DIFFERENT TYPES OF ASSETS • 1000 individual equities • 3000 individual bonds

DISCLAIMERS: Source Sans Pro 14pt

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Wages in the United States increased 4 Wages in the United States increased 4.47 percent in November of 2017 over the same month in the previous year. Wage Growth in the United States averaged 6.21 percent from 1960 until 2017, reaching an all time high of 13.77 percent in January of 1979 and a record low of -5.77 percent in March of 2009. Zie ook fiscale maatregelen trump in begin zeker positief voor consumptie .

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Dit is een foto van 5th Avenue in New York, genomen in 1900 Dit is een foto van 5th Avenue in New York, genomen in 1900. Graag zou ik jullie aandacht willen vestigen op de manier waarop men zich transporteert: we zien dat men zich verplaatsen met paard en kar. (Ford T: 1908 | EV (electric vehicle): in productie eind 19de eeuw  weinig geluid, maar lage topsnelheid en beperkt bereik.) .

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Arguably this is a positive shift, given that the last US cycle saw far too much residential investment and insufficient business investment, to the detriment of US productivity. Nevertheless, despite the broader economic tailwinds, investors should be prepared for the homebuilding sector to disappoint in 2018. .

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. The share of retirees in the overall population is forecasted to rise rapidly. This change in demographics is weighing on rates and increasing demand for income solutions. By 2050, the UN estimates that in the developed world, for every person above the age of 65, there will be only be 2.2 people of working age (15-65). As the global population ages, income demands are expected to rise.

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ARCHITAS Asset alLocation Overall finally balanced, but we are not at the end of the market cycle. Expect more volatility but fundamentals remain supportive. So to summarise as you would expect there is a bull and a bear case for 2017:

Axa investplus POSITIONNEMENT ACTUEL (%) CONSERVATIVE DEFENSIVE NEUTRAL DYNAMIC AGGRESSIVE FLEXIBLE ALLOCATION EQUITIES 0.0 20.50 41.0 61.5 82.0 EQUITY CORE 14.8 29.6 44.4 59.2 EQUITY SATELLITE 5.7 11.4 17.1 22.8 FIXED INCOME 76.0 55.9 35.8 18.0 BONDS CORE 45.0 33.1 21.2 10.65 BONDS SATELLITE 31.0 14.6 7.35 ALTERNATIVES 19.0 15.0 ALTERNATIVE DEFENSIVE CASH 5.0 8.6 8.2 5.5 3.0 Source: Architas, January 2018 Internal. Please do not distribute to third parties

Axa investplus EQUITY EXPOSURE (%) Equity Core (70%) Core exposure to global equity markets, low tracking error Equity Satellite (30%) More satellite approach. Focus on different investment styles, sectors, market capitalization, specific regions,… Source: Architas. The Equity graph is a composite of 70% AXA InvestPlus Equity Core and 30% AXA InvestPlus Equity Satellite as reflected in the investment strategies. Data as of 29/12/2017.

Axa investplus FIXED INCOME EXPOSURE (%) Portfolio Benchmark Portfolio Bonds Core (60%) Exposed to Govies, Corporates and Inflation Linked Bonds Bonds Satellite (40%) Exposed to High Yield, Emerging Markets Debt (both in Hard and Local Currency, Convertibles) Portfolio Benchmark Duration 5.40y 6.67y Yield 1.60% 1.08% Avg Quality BBB A Portfolio Benchmark Duration 3.75y 4.18y Yield 4.99% 3.97% Avg Quality BB BBB Source: Architas. The Fixed Income graph is a composite of 60% AXA InvestPlus Bonds Core and 40% AXA InvestPlus Bonds Satellite as reflected in the investment strategies. Data as of 29/12/2017.

Axa investplus ALTERNATIVE EXPOSURE (%) Equity Long/Short (15-35%) Equity Risk with measured market sensitivity Event Driven (15-35%) M&A with neutral market direction, Event-Driven focusing on catalysts rather than price driven value creation Global Macro (10-30%) Limited equity correlation, benefits from cross-asset volatility, works well when other strategies are struggling Equity Market Neutral (5-20%) Defensive, diversification, low volatility exposure Multi-Strategy (5-15%) Robust alpha generation across strategies, solid downside protection Source: Architas. The Alternatives graph is referring to the AXA InvestPlus Alternative Defensive as reflected in the investment strategies. Data as of 29/12/2017.

Axa investplus 2017 Source: Architas. Returns are including fees. Data as of 31/12/2017. Past performance is not a guide to future performance. The value of investments, and any income, can go down as well as up and your client may not get back the amount they invested. Internal. Please do not distribute to third parties.

Avantages pour vous & VOTRE CLIENT Vous travaillez dans le cadre d’une relation d’apport de clientèle Votre chargé de relation s’occupe de l’analyse des besoins, du profile MiFID et du suivi complet de la relation client Vous restez impliqué Commission d’apport: 4,8% étalée sur 12 ans Aucun frais de souscription ou de rachat Aucun frais de transaction ou de garde 1,75 % de commission de gestion dans les fonds actions 1,25 % dans les fonds obligataires .

Processus de vente 2: ENTRETIEN A PROPOS DE L’INVESTISSEMENT 3: SUIVI 1: INTRODUCTION MEETING SUR ARCHITAS SUR LES BUILDING BLOCKS PROFIL MiFID CLIENT MEETING MEETINGS SEMESTRIELS UPDATES VIA BREAKING NEWS RAPPORT TRIMESTRIEL AGENT AXA BANK COURTIER INDÉPENDANT CLIENT FINAL ARCHITAS .

Rendez-vous sur notre stand ou contactez votre chargé de relations Benedikt van Parijs Bernard Nicaise Bruxelles/Brabant Wallon/Hainaut Philippe Mahy LINALUX François Dangreau Bruxelles / Brabant Wallon/Hainaut

Merci pour votre attention