Please find attached our Market views : Market view – Investment strategy
The oracle Frankfurt decreased the rate of -0.2 to -0.3% yesterday. It does not change the face of Europe… He might as well do nothing, because it was not (yet) really necessary. The ECB made thus a small gift. Apparently, “the markets” were expecting something more spectacular and more imaginative. And now the market makers […]
The managers of the Global Strategy Fund decide to buy 5% of Aberdeen European Convertible Bond Fund. The fund has now 58% “net” equity exposure. Net exposure = 100% long-only funds + 50% of flexible funds. Alternative funds (7%) are not included in the net exposure. The fund has also 30% exposure to the US […]
With a YTD performance in line with our competitors (mixed funds), we believe that it’s a calculated and acceptable risk to increase a little bit more the equity exposure. We decided to play the “momentum” essentially with ETF’s on EuroStoxx50 and StoxxEurope600, so that we can move quickly if necessary and monitor the downside risk […]
The “net” equity exposure has been increased to 53%. The “net” exposure is calculated as follows : 100% long-only funds + 50% mixed funds + 50% long/short funds – 100% short positions. Today we have no short positions anymore and The USD exposure has been increased to 30%.
Mr. Draghi did it again ! Amazing what influence this man can have. Even if he says nothing concrete, he moves the global markets. He barely finished his speech, and the stock markets are raised everywhere, in Europe with 2.50% (Stoxx 50) and the United States with 1.50% (S & P500). Everyone expected more QE, […]
Today, our major topic is that we have some short ETF’s in our portfolios. The aim of these positions is to stabilize the portfolios. But when the momentum becomes too strong we have to be careful. In these circumstances, indices often perform better than good stock picking funds, which means that short ETFs lose more […]
Following our weekly meeting, we therefore wait to strengthen our position in Europe. “Net equity exposure” of the Global Strategy fund is currently 26.50%.