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0,2<modéré<0,9 COURS ROE %

AFMA 980 80.19


MICRODATA 246.5 33.63
ITISSALAT AL-MAGHRIB 140.55 28.89
OULMES 1431 28.46
HPS 2580 24.33
MINIERE TOUISSIT 1260 23.84
AFRIQUIA GAZ 3000 23.44
JET CONTRACTORS 325 20.07
ENNAKL 35.2 19.54
SMI 1449 16.85
TAQA MOROCCO 890 16.60
COLORADO 60.65 14.44
LABEL VIE 1901 14.02
ATLANTA 55.6 13.71
SAHAM ASSURANCE 1435 13.04
DELTA HOLDING 32.4 10.76
M2M Group 500 10.24
AUTO HALL 73 9.92
DISWAY 275 9.33
EQDOM 1020 8.90
BMCE BANK 166.5 8.25
CIH 294 8.23
REALISATIONS MECANIQUES 210 8.05
BMCI 720 6.37
MAGHREB OXYGENE 170 5.66
SONASID 464 2.26
STOKVIS NORD AFRIQUE 14.11 0.68
RISMA 167.5 -5.81
MED PAPER 20.85 -35.10
IB MAROC.COM 70 -341.50
STROC INDUSTRIE 24.5 -410.53
BPA PER PBR DIVIDEND
58.58 17.07 13.69 57.00
23.81 10.29 3.46 16.50
6.49 20.64 5.96 6.48
98.60 17.16 4.88 84.00
100.99 16.63 4.03 40.00
97.92 13.38 3.19 107.00
166.86 17.68 4.14 125.00
43.51 8.50 1.71 6.00
3.70 13.38 2.61 2.26
145.27 20.65 3.84 87.00
42.98 21.41 3.55 40.00
3.99 20.52 2.96 3.00
83.78 21.17 2.97 52.84
3.52 18.18 2.49 2.80
136.97 10.22 1.33 N/A
2.41 12.86 1.38 1.50
22.39 17.98 1.84 25.00
3.39 26.57 2.64 3.50
32.00 12.63 1.18 24.00
80.38 13.76 1.23 60.00
11.35 18.86 1.56 5.00
16.38 17.46 1.44 14.00
40.72 7.00 0.56 13.00
41.20 20.36 1.31 30.00
16.16 8.54 0.48 4.00
11.21 62.53 1.41 N/A
0.21 95.00 0.64 N/A
-6.03 N/A 1.39 N/A
2.86 11.49 N/A N/A
-98.41 N/A 4.23 N/A
-83.71 N/A 2.47 N/A
ACTION COURS ROE % BPA PER PBR DIVIDEND
AFMA 980 80.19 58.58 17.07 13.69 57
MICRODATA 246.5 33.63 23.81 10.29 3.46 16.5
ITISSALAT A 140.55 28.89 6.49 20.64 5.96 6.48
OULMES 1431 28.46 98.6 17.16 4.88 84
HPS 2580 24.33 100.99 16.63 4.03 40
MINIERE TOUI 1260 23.84 97.92 13.38 3.19 107
AFRIQUIA GA 3000 23.44 166.86 17.68 4.14 125
JET CONTRAC 325 20.07 43.51 8.5 1.71 6
ENNAKL 35.2 19.54 3.7 13.38 2.61 2.26
SMI 1449 16.85 145.27 20.65 3.84 87
TAQA MORO 890 16.6 42.98 21.41 3.55 40
COLORADO 60.65 14.44 3.99 20.52 2.96 3
LABEL VIE 1901 14.02 83.78 21.17 2.97 52.84
ATLANTA 55.6 13.71 3.52 18.18 2.49 2.8
SAHAM ASSU 1435 13.04 136.97 10.22 1.33 N/A
DELTA HOLDI 32.4 10.76 2.41 12.86 1.38 1.5
M2M Group 500 10.24 22.39 17.98 1.84 25
AUTO HALL 73 9.92 3.39 26.57 2.64 3.5
DISWAY 275 9.33 32 12.63 1.18 24
EQDOM 1020 8.9 80.38 13.76 1.23 60
ACTION COURS ROE % BPA PER PBR DIVIDEND
AFMA 980 80.19 58.58 17.07 13.69 57
ITISSALAT A 140.55 28.89 6.49 20.64 5.96 6.48
OULMES 1431 28.46 98.6 17.16 4.88 84
AFRIQUIA GA 3000 23.44 166.86 17.68 4.14 125
HPS 2580 24.33 100.99 16.63 4.03 40
SMI 1449 16.85 145.27 20.65 3.84 87
TAQA MORO 890 16.6 42.98 21.41 3.55 40
MICRODATA 246.5 33.63 23.81 10.29 3.46 16.5
MINIERE TOUI 1260 23.84 97.92 13.38 3.19 107
LABEL VIE 1901 14.02 83.78 21.17 2.97 52.84
COLORADO 60.65 14.44 3.99 20.52 2.96 3
AUTO HALL 73 9.92 3.39 26.57 2.64 3.5
ENNAKL 35.2 19.54 3.7 13.38 2.61 2.26
ATLANTA 55.6 13.71 3.52 18.18 2.49 2.8
M2M Group 500 10.24 22.39 17.98 1.84 25
JET CONTRAC 325 20.07 43.51 8.5 1.71 6
DELTA HOLDI 32.4 10.76 2.41 12.86 1.38 1.5
REJETER DU
SAHAM ASSU 1435 13.04 136.97 10.22 1.33 N/A
EQDOM 1020 8.9 80.38 13.76 1.23 60
DISWAY 275 9.33 32 12.63 1.18 24
REJETER DU CHAMPS D'ANALYSE
ACTION COURS ROE % BPA PER PBR DIVIDEND
AFRIQUIA GAZ 3000 23.44 166.86 17.68 4.14 125
SMI 1449 16.85 145.27 20.65 3.84 87
HPS 2580 24.33 100.99 16.63 4.03 40
OULMES 1431 28.46 98.6 17.16 4.88 84
MINIERE TOUISSIT 1260 23.84 97.92 13.38 3.19 107
LABEL VIE 1901 14.02 83.78 21.17 2.97 52.84
AFMA 980 80.19 58.58 17.07 13.69 57
TAQA MOROCCO 890 16.6 42.98 21.41 3.55 40
MICRODATA 246.5 33.63 23.81 10.29 3.46 16.5
ITISSALAT AL-MAGHRIB 140.55 28.89 6.49 20.64 5.96 6.48
COLORADO 60.65 14.44 3.99 20.52 2.96 3
ENNAKL 35.2 19.54 3.7 13.38 2.61 2.26
ATLANTA 55.6 13.71 3.52 18.18 2.49 2.8
AUTO HALL 73 9.92 3.39 26.57 2.64 3.5
REJETER DU CHAMPS D'ANALYSE
ACTION COURS ROE % BPA PER PBR
AFRIQUIA GAZ 3000 23.44 166.86 17.68 4.14
SMI 1449 16.85 145.27 20.65 3.84
HPS 2580 24.33 100.99 16.63 4.03
OULMES 1431 28.46 98.6 17.16 4.88
MINIERE TOUISSIT 1260 23.84 97.92 13.38 3.19
LABEL VIE 1901 14.02 83.78 21.17 2.97
AFMA 980 80.19 58.58 17.07 13.69
TAQA MOROCCO 890 16.6 42.98 21.41 3.55
MICRODATA 246.5 33.63 23.81 10.29 3.46
ITISSALAT AL-MAGHRIB 140.55 28.89 6.49 20.64 5.96
DIVIDEND NB d'action achetés dividende
125 16.95 2118.64
87 16.56 1440.40
40 31.23 1249.22
84 27.89 2342.44
107 32.30 3456.07
52.84 28.57 1509.71
57 50.25 2864.32
40 54.88 2195.15
16.5 191.57 3160.92
6.48 365.36 2367.56
22704.4357
4.5%
3.05% 14.0%
515250.00 570054.44

54804.44
ACTION AFRIQUIA GAZ SMI HPS OULMES
POIDS a T1 10% 10% 10% 10%
COURS 2950 3020 1601 1793
Nombre d'action Achetées 16.95 16.56 31.23 27.89
Montant investis a T1 50,000.00 50,000.00 50,000.00 50,000.00
Cours a T2 3305 3450 2000 1791
nouveau Portefeuille 56,016.95 57,119.21 62,460.96 49,944.23
NP % 10.12% 10.32% 11.28% 9.02%
rendement % 12% 14% 25% -0.1%
extra du poids 649.61 1751.87 7093.62 -5423.11
Action a vendre 0.196553641 0.507787226 3.546811266
Action a achetés 3.0279797968
Cours a T3 2808 3050 1880 1330
nouveau Portefeuille 47593.22 50496.69 58713.30 37088.68
NP % 9% 10% 11% 7%
rendement % -5% 1% 17% -26%
Extra du poids -4012.5010530842 -1109.03265035 7107.582792817 -14517.0431991
Action a vendre 3.7806291451
Action a achetés 1.4289533665 0.3636172624 10.9150700745
Cours a T4 2950 1510 2059 1211
nouveau Portefeuille 50000.00 25000.00 64303.56 33770.22
NP % 10% 5% 13% 7%
rendement % 0.00 -50% 29% -32%
Extra du poids 2236.01 -22763.99 16539.57 -13993.77
Action a vendre 0.7579700596 8.0328178488
Action a achetés 15.0754889564 11.5555498032
Cours a T5 (2019) 3233 1535 2649 1450
nouveau Portefeuille 54796.6101694915 25413.90728477 82729.54403498 40435.0250976
NP % 0.1094537034 0.0507631085 0.1652484515 0.0807670991
rendement % 0.0959322034 -0.4917218543 0.6545908807 -0.191299498
Extra du poids -2036.490846549 -296238.051082 277648.8994805 -145835.403839
Action a vendre 104.8127215857
Action a achetés 0.6299074688 192.9889583596 100.5761405786
PORTEFEUILLE FINALE 0.1681355932 -0.8394039735 1.3641474079 -0.7752370329

Cours a T6 (prevision) 3096.23 1173.79 2491.66 1493.27


nouveau Portefeuille 52478.4579216781 19433.66796558 77815.65108305 41641.6023801
NP % 11% 4% 16% 8%
rendement % 5% -61% 56% -17%
Extra du poids 2625.6799162564 -30419.1100398 27962.87307762 -8211.17562532
Action a vendre 0.8480250981 -25.9152132556 11.2226006309 -5.4987961891
Action a achetés 25.9152132556 5.4987961891
MINIERE TOUISSIT LABEL VIE AFMA TAQA MOROCCO MICRODATA
10% 10% 10% 10% 10%
1548 1750 995 911.1 261
32.30 28.57 50.25 54.88 191.57
50,000.00 50,000.00 50,000.00 50,000.00 50,000.00
1780 1990 1026 979 283.9
57,493.54 56,857.14 51,557.79 53,726.26 54,386.97
10.38% 10.27% 9.31% 9.70% 9.82%
15% 14% 3% 7% 9%
2126.20 1489.80 -3809.55 -1641.07 -980.37
1.194494766 0.748644970
3.7130121082 1.6762762138 3.4532095373
1699 2030 1077 876.1 293.9
54877.26 58000.00 54120.60 48079.24 56302.68
11% 11% 10% 9% 11%
10% 16% 8% -4% 13%
3271.5395898449 6394.278607933 2514.88162301 -3526.4765232274 4696.96060027
1.9255677398 3.1498909399 2.3350804299 15.9814923453
4.025198634
1476 1901 1000 867 275
47674.42 54314.29 50251.26 47579.85 52681.99
10% 11% 11% 10% 11%
-5% 9% 1% -5% 5%
-89.57 6550.30 2487.27 -184.14 4918.00
3.4457114098 2.4872679572 17.8836509562
0.0606840918 0.2123873004
1291 1940 990 890 260
41698.9664082687 55428.57142857 49748.7437186 48842.0590495006 49808.42911877
0.0832917636 0.1107160169 0.0993708228 0.097559762 0.0994900416
-0.1660206718 0.1085714286 -0.0050251256 -0.023158819 -0.0038314176
-133179.879699407 4291.177140943 -52579.498804 -61657.902698133 -51981.88401257
2.2119469799
103.160247637 53.1106048525 69.2785423575 199.9303231253
0.0348837209 0.492 0.1135678392 -0.0354516518 0.2636015326

1369.65 1952.67 1009.21 911.08 277.13


44239.3391906059 55790.47619048 50713.946124 49998.8836204601 53090.46596783
9% 11% 10% 10% 11%
-12% 12% 1% 0% 6%
-5613.4388148159 5937.698185054 861.168118533 146.1056150383 3237.68796241
-4.098447819 3.0408150487 0.8533112316 0.1603653576 11.6828271289
4.098447819 0.1603653576
ITISSALAT AL-MAGHRIB
10% 100%
136.85
365.36
50,000.00 500,000.00
148.1
54,110.34
9.77%
8% 10.73%
-1257.00 0.00

8.4875056018
139
50785.53
10%
2% 3.211%
-820.1897881213 - 0.00

5.9006459577
142.5
52064.30
11%
4% -4.47%
4300.32 0.00
30.1776537421

141.6
51735.4767994154
0.1033392306
0.034709536
-32686.8437803253

230.8392922339
0.1739130435 9.60%

145.95
53325.2896104841
11%
7% -2.944%
3472.5116050623
23.7922593687
MATR
AFRIQUIA GAZ SMI HPS OULMES
AFRIQUIA GAZ 1 0.139 0.374 0.264
SMI 0.139 1 0.027 0.135
HPS 0.374 0.027 1 0.245
OULMES 0.264 0.135 0.245 1
MINIERE TOUISSIT 0.190 0.670 -0.006 0.188
LABEL VIE 0.000 0.069 -0.148 0.107
AFMA 0.098 0.131 0.122 0.105
TAQA MOROCCO 0.182 -0.106 0.104 0.155
MICRODATA 0.000 0.296 0.505 0.081
0.039 0.093 0.106 -0.042
ITISSALAT AL-MAGHRIB

POIDS (wi)
AFRIQUIA GAZ 0.1
SMI 0.1
HPS 0.1 variance en % 0.18912802
OULMES 0.1 ECART TYPE % 0.43488852
MINIERE TOUISSIT 0.1
LABEL VIE 0.1
AFMA 0.1
TAQA MOROCCO 0.1
MICRODATA 0.1
ITISSALAT AL-MAGHRIB 0.1
MATRICE VARIANCE COVARIANCE
MINIERE TOUISSIT LABEL VIE AFMA TAQA MOROCCO
0.190 0.000 0.098 0.182
0.670 0.069 0.131 -0.106
-0.006 -0.148 0.122 0.104
0.188 0.107 0.105 0.155
1 -0.076 -0.304 0.233
-0.076 1 0.080 -0.072
-0.304 0.080 1 0.087
0.233 -0.072 0.087 1
0.059 -0.092 -0.063 0.114
0.224 -0.037 -0.029 0.176

variance en DH 36298.4128979508
ECART TYPE 190.5214237243
MICRODATA ITISSALAT AL-MAGHRIB
0.000 0.039
0.296 0.093
0.505 0.106
0.081 -0.042
0.059 0.224
-0.092 -0.037
-0.063 -0.029
0.114 0.176
1 0.032
0.032
1
AFRIQUIA GAZ SMI HPS OULMES
AFRIQUIA GAZ 1 53039.010 209179.214 64660.135
SMI 53039.010 1 -39225.608 99592.772
HPS 209179.214 -39225.608 1 69710.099
OULMES 64660.135 99592.772 69710.099 1
MINIERE TOUISSIT 80969.406 57278.433 124506.347 41587.968
LABEL VIE 121879.936 -3240.746 234297.215 40889.183
AFMA 41134.435 15819.944 68917.462 20196.321
TAQA MOROCCO 41326.097 22577.653 64755.183 20910.319
MICRODATA 21218.465 4416.313 38500.233 8791.634
ITISSALAT AL-MAGHRIB 2989.721 1456.101 4207.122 1373.921

variance en DH 36298.4128979508
ECART TYPE 190.5214237243
MINIERE TOUISSIT LABEL VIE AFMA TAQA MOROCCO MICRODATA
80969.406 121879.936 41134.435 41326.097 21218.465
57278.433 -3240.746 15819.944 22577.653 4416.313
124506.347 234297.215 68917.462 64755.183 38500.233
41587.968 40889.183 20196.321 20910.319 8791.634
1 78822.611 26776.185 26469.454 13540.536
78822.611 1 41427.459 37681.766 22695.323
26776.185 41427.459 1 12907.087 7198.281
26469.454 37681.766 12907.087 1 6716.087
13540.536 22695.323 7198.281 6716.087 1
2052.179 2592.472 899.099 984.873 437.947
ITISSALAT AL-MAGHRIB
2989.721
1456.101
4207.122
1373.921
2052.179
2592.472
899.099
984.873
437.947
1
montant impot net
impot/+value 547,350.00 54,735.00 492,615.00
impot/dividende 522,250.00 52,225.00 470,025.00
845,014.04
Obligation DUREE (ANNEE) cotation
28JUN2016 3,74% 10A 100K ATW 10 98.86%
11OCT2017 4,22% 10A 100K CAM 10 101.29%
28JUN2018 4,00% 10A 100K SOG 10 100.29%
8MAI2018 4,02% 10A 100K CIH 10 100.14%
17DEC2018 4,05% 10A 100K CDM 10 100.64%
01NOV2018 4,10% 10A 100K CAM 10 100.35%
28JUN2016 3,74% 10A 100K BCE 10 98.86%
12OCT2016 4,43% 10A 100K CAM 10 101.54%
23DEC16 3,44% 7A 100K ATW 7 100.05%
29JUN2018 3,57% 7A 100K ATW 7 100.29%
29JUN17 3,63% 7A 100K ATW 7 100.99%
29JUN2018 3,32% 7A 100K ATW 7 99.67%
28DEC2017 3,69% 7A 100K ATW 7 100.65%
2OCT2016 4,11% 7A 100K CAM 7 101.06%

periode 3,63% 7A 100K ATW 3,69% 7A 100K ATW


0 - 98,860.00 - 101,290.00
1 3,740.00 4,220.00
2 3,740.00 4,220.00
3 3,740.00 4,220.00
4 3,740.00 4,220.00
5 3,740.00 4,220.00
6 3,740.00 4,220.00
7 103,740.00 104,220.00
8
9
10
date anniversaire date d'echeabce coupon VA (DH)
6/28/2016 6/28/2026 3.74% 100,000.00
10/11/2017 10/11/2027 4.22% 100,000.00
6/28/2018 6/28/2028 4.00% 100,000.00
5/8/2018 5/8/2028 4.02% 100,000.00
12/17/2018 12/17/2028 4.05% 100,000.00
11/1/2018 11/1/2028 4.10% 100,000.00
6/28/2016 6/28/2023 3.74% 100,000.00
10/12/2016 10/12/2026 4.43% 100,000.00
12/23/2016 12/23/2023 3.44% 100,000.00
6/29/2018 6/29/2025 3.57% 100,000.00
6/29/2017 6/29/2024 3.63% 100,000.00
6/29/2018 6/29/2025 3.32% 100,000.00
12/28/2017 12/28/2024 3.69% 100,000.00
10/2/2016 10/2/2023 4.11% 100,000.00

3,57% 7A 100K ATW 3,32% 7A 100K ATW 3,44% 7A 100K ATW 3,74% 10A 100K BCE
- 100,290.00 - 100,140.00 - 100,640.00 - 100,350.00
4,000.00 4,020.00 4,050.00 4,100.00
4,000.00 4,020.00 4,050.00 4,100.00
4,000.00 4,020.00 4,050.00 4,100.00
4,000.00 4,020.00 4,050.00 4,100.00
4,000.00 4,020.00 4,050.00 4,100.00
4,000.00 4,020.00 4,050.00 4,100.00
104,000.00 104,020.00 104,050.00 4,100.00
4,100.00
4,100.00
104,100.00
TRI DURATION CONVEXITE duration modifiee
3.88% 8.51 81.9921988235 6.10
4.06% 8.37 81.1599827957 6.08
3.96% 8.44 80.8431056764 6.10
4.00% 8.43 80.6768756764 6.15
3.97% 8.42 80.6498212404 6.13
4.06% 8.40 79.4840601613 6.05
3.88% 6.28 79.3149165918 5.99
4.24% 8.31 78.6911821183 8.08
3.43% 6.34 45.803241754 8.05
3.52% 6.32 45.5089860044 8.10
3.47% 6.31 45.4808338135 8.11
3.37% 6.36 45.4472684235 8.12
3.58% 6.30 45.2653803146 8.20
3.98% 6.23 44.1312514053 7.97

4,11% 7A 100K CAM 4,10% 10A 100K CAM 4,22% 10A 100K CAM 4,05% 10A 100K CDM
- 98,860.00 - 101,540.00 - 100,050.00 - 100,290.00
3,740.00 4,430.00 3,440.00 3,570.00
3,740.00 4,430.00 3,440.00 3,570.00
3,740.00 4,430.00 3,440.00 3,570.00
3,740.00 4,430.00 3,440.00 3,570.00
3,740.00 4,430.00 3,440.00 3,570.00
3,740.00 4,430.00 3,440.00 3,570.00
103,740.00 4,430.00 3,440.00 3,570.00
4,430.00 3,440.00 3,570.00
4,430.00 3,440.00 3,570.00
104,430.00 103,440.00 103,570.00
les obligations choisies a part egal

4,02% 10A 100K CIH 4,00% 10A 100K SOG 3,74% 10A 100K ATW 4,43% 10A 100K CAM
- 100,990.00 - 99,670.00 - 100,650.00 - 101,060.00
3,630.00 3,320.00 3,690.00 4,110.00
3,630.00 3,320.00 3,690.00 4,110.00
3,630.00 3,320.00 3,690.00 4,110.00
3,630.00 3,320.00 3,690.00 4,110.00
3,630.00 3,320.00 3,690.00 4,110.00
3,630.00 3,320.00 3,690.00 4,110.00
3,630.00 3,320.00 3,690.00 4,110.00
3,630.00 3,320.00 3,690.00 4,110.00
3,630.00 3,320.00 3,690.00 4,110.00
103,630.00 103,320.00 103,690.00 104,110.00
taux depot a terme 3.02%
montant investi 100,000.00
3,020.00
nouveau montant 103,020.00
Mesures de performances du Portefeuille
Ratio SHARP (div inclus) 22.0900816891
Ratio Treyner (div inclus) 0.2212728819
ratio jensen 0.0809864005
ratio d'evaluation 0.3677953023
Rf 3.05%
Rp 9.60%
Rm -0.0361148%
VARIANCE MARCHE 0.0025215%
sd Market 0.5021463%
Beta Portefeuille 0.5013019145
dividende % 4.54%
variance portefeuille 18.91%
sd portefeuille 43.49%