Capital
allocation

Capital allocation

As outlined in the Introduction, we believe the case and opportunity remains strong for directing capital to support the transition towards a net zero economy. Our Climate Transition Global Credit Fund uses an active, fundamental, research-driven approach to capture opportunities arising from the transition to low-carbon economy and warmer world. The Fund’s key performance driver is bottom-up stock selection, which leverages the combined connected analytical resources of our ESG and credit investment teams.

The Fund invests in ‘Transition’ companies who are among leaders within their sector in transitioning business operations and value chain to be resilient for a warmer, lower-carbon future. The Transition-Risk (T-Risk) model combines a top-down sub-industry climate risk exposure assessment with a bottom-up company risk management score to identify the companies eligible for inclusion in the transition sleeve. Investment in ‘Solution’ companies is another focus of the Fund. These companies generate at least 20% of revenue from the provision of products or services that either help mitigate to or adapt against the adverse impacts of climate change.

In this capital allocation section of the report, we illustrate where we directed the Fund's capital in 2023, and how that relates to the climate change challenges we're aiming to support.

Holding Classification

Portfolio KPIs

2023 Data Summary Table		Climate Transition Global Credit Portfolio			Bloomberg Global Aggregate Corporate Index
2023 Data Summary Table		Dec 2021	Dec 2022	Dec 2023	Dec 2021	Dec 2022	Dec 2023
Fossil Fuels Reserves	Percentage weight of companies with fossil fuel reserves	6.3	0	0	7.0	6.2	6.2
Carbon Emissions¹⁰	Weighted average intensity (tCO₂e/$M Sales)	63.1	107.3	70.9	154.2	213.7	195.4
Carbon Emissions¹⁰	Carbon footprint (tCO₂e/$M invested)	52.6	71.1	58.1	100.7	152.4	122.4
Climate Governance	Percentage of companies with a CDP score >B	68.8	76.2	66.4	52.6	35.8	34.7
Climate Governance	Percentage of companies with SBTi¹¹ ambitions	32.0	56.2	56.3	26.0	33.4	39.3
As at date - 31/12/2023 Source: Aladdin and MSCI.

¹⁰Based on 97.5% data coverage for CTGE Fund and 92.9% data coverage for Bloomberg Global Aggregate Corporate Index.
¹¹ Science Based Targets initiative includes either set or commitment to set targets validated by the Science Based Targets initiative.

Principle Adverse Impact (PAI) indicators follow the guidelines released in the Regulatory Technical Standards (RTS) as part of the EU’s Sustainable Financial Disclosure Regulation (SFDR), which aims to increase transparency in how financial market participants and advisers consider sustainability risks and opportunities in their processes. In the context of this Fund, PAI data is used to ensure that the Fund’s investments do no significant harm (DNSH) to society and the environment and align with the sustainability objective. The following sample metrics follow Aviva Investor’s proprietary PAI framework, utilising MSCI’s SFDR Adverse Impact Metric Methodology¹², to assess companies against the Do No Significant Harm thresholds¹³.

Security Description Companies mentioned throughout this report are for illustrative purposes only, not intended as investment recommendations.	Environmental Impact Solutions - Max. % of Rev. (Wt Avg-PORT Delta NMV)	Company has SBTI approved Emission Target	PAI 02: Carbon Emissions Intensity (EVIC EUR Scope 1,2&3)	PAI 03: Carbon Emissions Intensity (Sales in EUR Scope 1,2&3)	PAI 05: Non-Renewables Consumption	PAI 06: Energy Consumption Intensity (EUR)
AIA GROUP LTD MTN RegS	0.00		Neutral	Neutral	No data	No data
AMAZON.COM INC	6.93		Neutral	Neutral	Green	Neutral
AMGEN INC	0.00	Yes	Neutral	Neutral	Neutral	No data
ANHEUSER-BUSCH COMPANIES	0.00	Yes	Neutral	Neutral	No data	Neutral
ANHEUSER-BUSCH INBEV WORLDWIDE INC	0.00	Yes	Neutral	Neutral	No data	Neutral
APPLE INC	0.00	Yes	Neutral	Neutral	Neutral	Neutral
ASHTEAD CAPITAL INC 144A	1.42		Neutral	Neutral	Neutral	No data
ASHTEAD CAPITAL INC 144A	1.42		Neutral	Neutral	Neutral	No data
AT&T INC	0.00	Yes	Neutral	Neutral	Neutral	No data
AT&T INC	0.00	Yes	Neutral	Neutral	Neutral	No data
AT&T INC	0.00	Yes	Neutral	Neutral	Neutral	No data
AT&T INC	0.00	Yes	Neutral	Neutral	Neutral	No data
AT&T INC	0.00	Yes	Neutral	Neutral	Neutral	No data
AUSTRALIA AND NEW ZEALAND BANKING RegS	0.00		Neutral	Neutral	Neutral	Low Population
BANCO SANTANDER SA	0.00		Neutral	Neutral	Neutral	No data
BANCO SANTANDER SA	0.00		Neutral	Neutral	Neutral	No data
BANCO SANTANDER SA MTN RegS	0.00		Neutral	Neutral	Neutral	No data
BANK OF AMERICA CORP	0.00		Neutral	Neutral	No data	No data
BANK OF AMERICA CORP	0.00		Neutral	Neutral	No data	No data
BANK OF AMERICA CORP	0.00		Neutral	Neutral	No data	No data
BANK OF AMERICA CORP MTN	0.00		Neutral	Neutral	No data	No data
BARCLAYS PLC	0.00		Neutral	Neutral	No data	No data
BARCLAYS PLC	0.00		Neutral	Neutral	No data	No data
BARCLAYS PLC	0.00		Neutral	Neutral	No data	No data
BARCLAYS PLC MTN RegS	0.00		Neutral	Neutral	No data	No data
BARCLAYS PLC MTN RegS	0.00		Neutral	Neutral	No data	No data
BELL CANADA INC	0.00	Yes	Neutral	Neutral	No data	No data
BELL CANADA INC MTN	0.00	Yes	Neutral	Neutral	No data	No data
BNI FINANCE BV RegS
BRAMBLES USA INC 144A	0.00	Yes	Neutral	Neutral	No data	No data
BURLINGTN NORTH SANTA FE	0.00		No data	Amber	Neutral	No data
CELLNEX FINANCE COMPANY SA MTN RegS	0.47	Yes	Neutral	Neutral	Green	No data
CHARTER COMMUNICATIONS OPERATING L	0.00		Neutral	Neutral	No data	No data
CIGNA CORP	0.00		Neutral	Neutral	No data	No data
CITIGROUP INC	0.00		Neutral	Neutral	Green	No data
CITIGROUP INC	0.00		Neutral	Neutral	Green	No data
CONNECTICUT LIGHT AND POWER COMPAN	0.05		Neutral	Neutral	Neutral	Neutral
CONSTELLATION ENERGY GENERATION LL	2.66		No data	Neutral	Neutral	Neutral
CREDIT AGRICOLE SA 144A	0.00		Neutral	Neutral	Neutral	No data
CREDIT AGRICOLE SA 144A	0.00		Neutral	Neutral	Neutral	No data
CREDIT AGRICOLE SA RegS	0.00		Neutral	Neutral	Neutral	No data
CVS HEALTH CORP	0.00	Yes	Neutral	Neutral	No data	No data
DANFOSS FINANCE II BV MTN RegS
DANFOSS FINANCE II BV MTN RegS
DANSKE BANK A/S MTN RegS	0.00		Green	Green	Neutral	No data
DEUTSCHE BAHN FINANCE GMBH MTN RegS	17.38	Yes	No data	Neutral	No data	Neutral
DEUTSCHE BANK AG MTN RegS	0.00		Neutral	Amber	Neutral	No data
DS SMITH PLC MTN RegS	10.00	Yes	Neutral	Neutral	No data	No data
EDP SERVICIOS FINANCIEROS ESPANA S MTN RegS	45.96	Yes	Neutral	Neutral	Neutral	Neutral
ENERGIAS DE PORTUGAL SA RegS	45.96	Yes	Neutral	Neutral	Neutral	Neutral
FORD MOTOR CREDIT COMPANY LLC MTN	16.18	Yes	Neutral	Neutral	No data	Neutral
GENERAL MOTORS FINANCIAL CO INC	13.12	Yes	Neutral	Neutral	No data	Neutral
GENERAL MOTORS FINANCIAL CO INC MTN RegS	13.12	Yes	Neutral	Neutral	No data	Neutral
GOLDMAN SACHS GROUP INC/THE	0.00		Neutral	Neutral	Green	No data
GSK CONSUMER HEALTHCARE CAPITAL NL MTN RegS	0.00	Yes	Neutral	Neutral	Neutral	Neutral
HOME DEPOT INC	0.00		Neutral	Neutral	No data	Neutral
HSBC HOLDINGS PLC	0.00		Neutral	Neutral	No data	No data
IBERDROLA INTERNATIONAL BV RegS	20.36	Yes	Neutral	Neutral	Neutral	Neutral
ING GROEP NV RegS	0.00		Neutral	Neutral	Neutral	No data
ITC HOLDINGS CORP 144A	0.00		Neutral	Neutral	Neutral	Neutral
JACOBS ENGINEERING GROUP INC.	15.18	Yes	Neutral	Neutral	Neutral	Low Population
KBC GROEP NV RegS	0.00		Neutral	Neutral	Neutral	No data
LLOYDS BANKING GROUP PLC	0.00		Neutral	Neutral	Neutral	No data
LLOYDS BANKING GROUP PLC	0.00		Neutral	Neutral	Neutral	No data
LLOYDS BANKING GROUP PLC MTN RegS	0.00		Neutral	Neutral	Neutral	No data
MICRON TECHNOLOGY INC	0.00		Neutral	Neutral	Neutral	Neutral
MICROSOFT CORPORATION	21.72	Yes	Neutral	Neutral	Green	No data
MONDI FINANCE PLC MTN RegS	0.00	Yes	Neutral	Neutral	No data	No data
MORGAN STANLEY	0.00		Neutral	Amber	No data	No data
MORGAN STANLEY	0.00		Neutral	Amber	No data	No data
MORGAN STANLEY MTN	0.00		Neutral	Amber	No data	No data
MORGAN STANLEY MTN	0.00		Neutral	Amber	No data	No data
MOSAIC CO/THE	0.00		Amber	Amber	Neutral	Neutral
NATWEST GROUP PLC MTN RegS	0.00	Yes	Neutral	Neutral	No data	No data
NBCUNIVERSAL MEDIA LLC	0.00		Neutral	Neutral	Neutral	No data
NBN CO LTD MTN 144A	0.00	Yes
NESTLE FINANCE INTERNATIONAL LTD MTN RegS	0.00	Yes	Neutral	Neutral	Neutral	Neutral
NEWMONT CORPORATION RegS	0.00	Yes	Neutral	Neutral	Neutral	Neutral
NXP BV	0.48		Neutral	Neutral	Neutral	Neutral
OCI NV 144A	8.66		Amber	Amber	Neutral	Amber
ORACLE CORPORATION RegS	17.78		Neutral	Neutral	Green	No data
PFIZER INVESTMENT ENTERPRISES PTE	0.00	Yes	Neutral	Neutral	Neutral	Neutral
PRUDENTIAL PLC RegS	0.00		Neutral	Green	No data	No data
RAYTHEON TECH CORP	0.04		Neutral	Neutral	Neutral	Neutral
RENTOKIL INITIAL FINANCE BV MTN RegS	0.00		Neutral	Neutral	Neutral	No data
REPUBLIC SERVICES INC	15.53	Yes	Neutral	Amber	Neutral	Neutral
REXEL SA RegS	0.00	Yes	Neutral	Neutral	Neutral	Neutral
ROYAL BANK OF CANADA	0.00		Neutral	Neutral	Neutral	No data
RTX CORP	0.04		Neutral	Neutral	Neutral	Neutral
STANDARD CHARTERED PLC MTN RegS	0.00		Neutral	Neutral	Neutral	No data
T-MOBILE USA INC	0.00	Yes	Neutral	Neutral	Neutral	No data
T-MOBILE USA INC	0.00	Yes	Neutral	Neutral	Neutral	No data
TAPESTRY INC	0.00		Neutral	Neutral	Neutral	Neutral
TAPESTRY INC	0.00		Neutral	Neutral	Neutral	Neutral
TELEFONICA EUROPE BV RegS	2.39	Yes	Neutral	Neutral	Green	No data
TRANE TECHNOLOGIES FINANCING LTD	1.80	Yes	Neutral	Neutral	Neutral	Neutral
UBS GROUP AG 144A	0.00		Neutral	Neutral	Green	No data
UBS GROUP AG RegS	0.00		Neutral	Neutral	Green	No data
UBS GROUP AG MTN RegS	0.00		Neutral	Neutral	Green	No data
UNION PACIFIC CORPORATION	0.00		Neutral	Neutral	Neutral	Neutral
UNITEDHEALTH GROUP INC	0.00		Neutral	Green	Neutral	No data
UNITEDHEALTH GROUP INC	0.00		Neutral	Green	Neutral	No data
UPJOHN FINANCE BV RegS	0.00	Yes	Neutral	Neutral	Neutral	Neutral
VERALTO CORP 144A	9.66		No data	No data	No data	No data
VERIZON COMMUNICATIONS INC	1.48	Yes	Neutral	Neutral	Neutral	No data
VERIZON COMMUNICATIONS INC	1.48	Yes	Neutral	Neutral	Neutral	No data
VERIZON COMMUNICATIONS INC	1.48	Yes	Neutral	Neutral	Neutral	No data
VMWARE INC	40.85	Yes	Neutral	Neutral	Green	No data
VODAFONE GROUP PLC	1.90	Yes	Neutral	Neutral	Neutral	No data
VODAFONE GROUP PLC MTN RegS	1.90	Yes	Neutral	Neutral	Neutral	No data
VOLKSWAGEN FINANCIAL SERVICES AG MTN RegS	9.05	Yes	Neutral	Neutral	Neutral	Neutral
VOLKSWAGEN LEASING GMBH MTN RegS	0.00	Yes	Neutral	Neutral	Neutral	Neutral
WASTE CONNECTIONS INC	4.64		Neutral	Amber	Neutral	Neutral
WEIR GROUP PLC RegS	0.00	Yes	Neutral	Neutral	Neutral	Neutral
XYLEM INC (INDIANA)	47.57		Neutral	Neutral	Neutral	Neutral
As at date - 31/12/2023 Source: The Aviva Investor PAI framework is based on a Red, Amber, Green (RAG) output, with “Reds” designating that a company is breaching our Do No Significant Harm test and therefore is ineligible for inclusion in this Fund.

¹² MSCI SFDR Adverse Impact Metrics Methodology
¹³ Do Not Significant Harm (DNSH) tests follow the requirements set out by the Sustainable Finance Disclosure Regulation (SFDR).
Data from third party data providers may be incomplete, inaccurate or unavailable. Where we seek to rely on proprietary models these may similarly rely on information which is incomplete, inaccurate or unavailable. As a result, there is a risk that AI may, from time to time, incorrectly assess a security, issuer or index. There is also a risk that AI, or the third-party data providers on which we may depend, may not interpret or apply the relevant characteristics correctly. AI does not warrant the fairness, accuracy or completeness of any data used, or assessment made in reference to this document.

Principle Adverse Indicators

Security Description

PAI 02: Carbon Emissions Intensity (EVIC in EUR Scope 1, 2 & 3)

PAI 03: Carbon Emissions Intensity (Sales in EUR Scope 1, 2 & 3)

PAI 04: Fossil Fuel (Strong Screen) *

PAI 05: PCT Non-Renewable Consumption

PAI 06: Energy Consumption Intensity (EUR)

PAI 07: Biodiversity Controversy

PAI 08: Water Efficiency

PAI 09: Hazardous Waste

PAI 10: Overall Flag

PAI 11: Mech UN Global Compact

PAI 12: Gender Pay Gap Ratio

PAI 13: Male \ Female Board Ratio

AMAZON.COM INC

Neutral

Green

Neutral

No data

Amber

Green

AMGEN INC

Neutral

No data

Neutral

No data

Amber

Neutral

ANHEUSER-BUSCH COMPANIES

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Neutral

ANHEUSER-BUSCH INBEV WORLDWIDE INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Neutral

APPLE INC

Neutral

No data

Neutral

Amber

No data

Neutral

AT&T INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Amber

AT&T INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Amber

AT&T INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Amber

AT&T INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Amber

AT&T INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Amber

AUSTRALIA AND NEW ZEALAND BANKING RegS

Neutral

Low Population

Neutral

No data

Amber

Neutral

Low Population

Green

BANCO SANTANDER SA

Neutral

No data

Neutral

No data

Amber

Neutral

Amber

Neutral

BANCO SANTANDER SA

Neutral

No data

Neutral

No data

Amber

Neutral

Amber

Neutral

BANCO SANTANDER SA MTN RegS

Neutral

No data

Neutral

No data

Amber

Neutral

Amber

Neutral

BANK OF AMERICA CORP

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

Amber

Neutral

BANK OF AMERICA CORP

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

Amber

Neutral

BANK OF AMERICA CORP

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

Amber

Neutral

BANK OF AMERICA CORP MTN

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

Amber

Neutral

BARCLAYS PLC

Neutral

No data

Neutral

No data

Amber

Neutral

BARCLAYS PLC

Neutral

No data

Neutral

No data

Amber

Neutral

BARCLAYS PLC

Neutral

No data

Neutral

No data

Amber

Neutral

BARCLAYS PLC MTN RegS

Neutral

No data

Neutral

No data

Amber

Neutral

BARCLAYS PLC MTN RegS

Neutral

No data

Neutral

No data

Amber

Neutral

BELL CANADA INC

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

No data

Neutral

BELL CANADA INC MTN

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

No data

Neutral

CHARTER COMMUNICATIONS OPERATING L

Neutral

No data

Neutral

No data

Amber

No data

Amber

CIGNA CORP

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Neutral

CITIGROUP INC

Neutral

Green

No data

Neutral

No data

Amber

Neutral

No data

Green

CITIGROUP INC

Neutral

Green

No data

Neutral

No data

Amber

Neutral

No data

Green

CONNECTICUT LIGHT AND POWER COMPAN

Neutral

Amber

Neutral

No data

Amber

No data

Neutral

CREDIT AGRICOLE SA 144A

Neutral

No data

Neutral

No data

Amber

Neutral

Amber

Green

CREDIT AGRICOLE SA 144A

Neutral

No data

Neutral

No data

Amber

Neutral

Amber

Green

CREDIT AGRICOLE SA RegS

Neutral

No data

Neutral

No data

Amber

Neutral

Amber

Green

CVS HEALTH CORP

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Neutral

DANSKE BANK A/S MTN RegS

Green

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Green

DEUTSCHE BANK AG MTN RegS

Neutral

Amber

Neutral

No data

Neutral

No data

Low Population

Amber

Neutral

Low Population

Neutral

FORD MOTOR CREDIT COMPANY LLC MTN

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Neutral

GENERAL MOTORS FINANCIAL CO INC

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

No data

Green

GENERAL MOTORS FINANCIAL CO INC MTN RegS

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

No data

Green

GOLDMAN SACHS GROUP INC/THE

Neutral

Green

No data

Neutral

No data

Amber

Red

Neutral

GSK CONSUMER HEALTHCARE CAPITAL NL MTN RegS

Neutral

No data

Amber

Neutral

Green

HOME DEPOT INC

Neutral

No data

Neutral

No data

Amber

No data

Neutral

HSBC HOLDINGS PLC

Neutral

No data

Neutral

No data

Amber

Neutral

Red

Green

IBERDROLA INTERNATIONAL BV RegS

Neutral

Amber

Neutral

No data

Neutral

Amber

Neutral

Green

ING GROEP NV RegS

Neutral

No data

Neutral

No data

Amber

Neutral

Low Population

Neutral

JACOBS ENGINEERING GROUP INC.

Neutral

Low Population

Neutral

No data

Amber

Neutral

No data

Neutral

LLOYDS BANKING GROUP PLC

Neutral

No data

Neutral

No data

Amber

Neutral

Green

LLOYDS BANKING GROUP PLC

Neutral

No data

Neutral

No data

Amber

Neutral

Green

LLOYDS BANKING GROUP PLC MTN RegS

Neutral

No data

Neutral

No data

Amber

Neutral

Green

MICROSOFT CORPORATION

Neutral

Green

No data

Neutral

No data

Low Population

Amber

Neutral

Green

MORGAN STANLEY

Neutral

Amber

Neutral

No data

Neutral

No data

Amber

No data

Neutral

MORGAN STANLEY

Neutral

Amber

Neutral

No data

Neutral

No data

Amber

No data

Neutral

MORGAN STANLEY MTN

Neutral

Amber

Neutral

No data

Neutral

No data

Amber

No data

Neutral

MORGAN STANLEY MTN

Neutral

Amber

Neutral

No data

Neutral

No data

Amber

No data

Neutral

MOSAIC CO/THE

Amber

Neutral

Low Population

No data

Amber

Neutral

No data

Neutral

NATWEST GROUP PLC MTN RegS

Neutral

No data

Neutral

No data

Amber

Neutral

Amber

Neutral

NESTLE FINANCE INTERNATIONAL LTD MTN RegS

Neutral

No data

Neutral

Amber

Neutral

Green

Neutral

NEWMONT CORPORATION RegS

Neutral

No data

Neutral

Amber

Neutral

No data

Green

ORACLE CORPORATION RegS

Neutral

Green

No data

Neutral

No data

Amber

No data

Neutral

PFIZER INVESTMENT ENTERPRISES PTE

Neutral

No data

Neutral

Amber

Neutral

RAYTHEON TECH CORP

Neutral

No data

Low Population

Amber

No data

Neutral

RENTOKIL INITIAL FINANCE BV MTN RegS

Neutral

No data

Neutral

No data

Amber

Neutral

ROYAL BANK OF CANADA

Neutral

No data

Neutral

No data

Amber

Low Population

Green

RTX CORP

Neutral

No data

Low Population

Amber

No data

Neutral

STANDARD CHARTERED PLC MTN RegS

Neutral

No data

Neutral

No data

Amber

No data

Neutral

T-MOBILE USA INC

Neutral

No data

Neutral

No data

Neutral

Amber

No data

Neutral

T-MOBILE USA INC

Neutral

No data

Neutral

No data

Neutral

Amber

No data

Neutral

TELEFONICA EUROPE BV RegS

Neutral

Green

No data

Neutral

No data

Neutral

Amber

Neutral

UBS GROUP AG 144A

Neutral

Green

No data

Neutral

No data

Amber

Neutral

No data

Neutral

UBS GROUP AG RegS

Neutral

Green

No data

Neutral

No data

Amber

Neutral

No data

Neutral

UBS GROUP AG MTN RegS

Neutral

Green

No data

Neutral

No data

Amber

Neutral

No data

Neutral

UNION PACIFIC CORPORATION

Neutral

Amber

Neutral

No data

Amber

No data

Neutral

UNITEDHEALTH GROUP INC

Neutral

Green

Neutral

No data

Neutral

No data

Amber

No data

Neutral

UNITEDHEALTH GROUP INC

Neutral

Green

Neutral

No data

Neutral

No data

Amber

No data

Neutral

UPJOHN FINANCE BV RegS

Neutral

No data

Neutral

Amber

Neutral

No data

Neutral

VERIZON COMMUNICATIONS INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Neutral

VERIZON COMMUNICATIONS INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Neutral

VERIZON COMMUNICATIONS INC

Neutral

No data

Neutral

No data

Amber

Neutral

No data

Neutral

VODAFONE GROUP PLC

Neutral

No data

Neutral

No data

Amber

Neutral

Green

VODAFONE GROUP PLC MTN RegS

Neutral

No data

Neutral

No data

Amber

Neutral

Green

AIA GROUP LTD MTN RegS

Neutral

No data

Neutral

No data

Neutral

No data

Neutral

ASHTEAD CAPITAL INC 144A

Neutral

No data

Neutral

No data

Neutral

Amber

Green

ASHTEAD CAPITAL INC 144A

Neutral

No data

Neutral

No data

Neutral

Amber

Green

BRAMBLES USA INC 144A

Neutral

No data

Neutral

No data

Neutral

No data

Neutral

BURLINGTN NORTH SANTA FE

No data

Amber

Neutral

No data

Neutral

No data

Neutral

Amber

No data

Neutral

CELLNEX FINANCE COMPANY SA MTN RegS

Neutral

Green

No data

Neutral

No data

Neutral

Green

CONSTELLATION ENERGY GENERATION LL

No data

Neutral

No data

Neutral

Amber

No data

Neutral

DEUTSCHE BAHN FINANCE GMBH MTN RegS

No data

Neutral

No data

Neutral

No data

Neutral

No data

Neutral

DS SMITH PLC MTN RegS

Neutral

No data

Neutral

No data

Neutral

Green

Neutral

EDP SERVICIOS FINANCIEROS ESPANA S MTN RegS

Neutral

No data

Neutral

No data

Neutral

ENERGIAS DE PORTUGAL SA RegS

Neutral

Red

Neutral

No data

Neutral

No data

Neutral

ITC HOLDINGS CORP 144A

Neutral

No data

Neutral

Amber

No data

Green

KBC GROEP NV RegS

Neutral

No data

Neutral

No data

Neutral

No data

Neutral

MICRON TECHNOLOGY INC

Neutral

No data

Amber

Neutral

Amber

No data

Green

MONDI FINANCE PLC MTN RegS

Neutral

No data

Neutral

No data

Neutral

No data

Neutral

NBCUNIVERSAL MEDIA LLC

Neutral

No data

Neutral

No data

Neutral

Amber

No data

Amber

NXP BV

Neutral

No data

Neutral

No data

Neutral

OCI NV 144A

Amber

Neutral

Amber

Neutral

No data

Neutral

Amber

No data

Neutral

PRUDENTIAL PLC RegS

Neutral

Green

Neutral

No data

Neutral

No data

Neutral

Amber

Neutral

Green

REPUBLIC SERVICES INC

Neutral

Amber

Neutral

No data

Neutral

Amber

No data

Neutral

REXEL SA RegS

Neutral

No data

Neutral

No data

Green

TAPESTRY INC

Neutral

No data

Neutral

No data

Green

TAPESTRY INC

Neutral

No data

Neutral

No data

Green

TRANE TECHNOLOGIES FINANCING LTD

Neutral

No data

Neutral

Amber

No data

Green

VERALTO CORP 144A

No data

Neutral

No data

Neutral

VMWARE INC

Neutral

Green

No data

Neutral

No data

Neutral

No data

Neutral

WASTE CONNECTIONS INC

Neutral

Amber

Neutral

No data

Neutral

Amber

No data

Neutral

WEIR GROUP PLC RegS

Neutral

No data

Neutral

Amber

Neutral

Green

XYLEM INC (INDIANA)

Neutral

No data

Neutral

No data

Neutral

VOLKSWAGEN FINANCIAL SERVICES AG MTN RegS

Neutral

No data

Red

Neutral

No data

Neutral

VOLKSWAGEN LEASING GMBH MTN RegS

Neutral

No data

Red

Neutral

No data

Neutral

As at date – 31/12/2023

Data sourced from third party providers, including MSCI, may be unavailable, incomplete, or inaccurate.