54.2 54.1 53.5 53.5 53.6 55.5

13.4 13.6 13.7 13.4 13.1 12.2

15.5 16.4 16.9 17.5 17.9 17.8

16.9 15.9 15.9 15.6 15.4 14.5

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2011 2012 2013 2014 2015 1H16

MV%

Treasury Government-Related Corporate Securitized

50.8 46.1

41.2 41.3 40.7 39.1

28.6 29.3

32.3

16.7 17.3 16.6

13.8 10.7 10.8

26.2 26.0 28.6

6.8 13.9 15.7 15.9 16.0 15.8

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2011 2012 2013 2014 2015 1H16

MV%

Aaa Aa A Baa

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