NHS SICAV – MC Bolero Global Allocation Fund – Investment strategy update 16/03/16

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Improvement in US macro data, including signs of stabilization in manufacturing sector together with some evidence of inflationary pressures make us feel more confident that the US economy can escape a recession for now, a positive signal for the rest of the world as well.  The latest ECB’s measures also bolstered investors sentiment as the […]

NHS Sicav – NOVACAP Global Strategy fund – Fact sheet – February 2016

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Equity markets remained under pressure in February after a month of January already heckled. There were two distinct phases in February, subject to a very high volatility. Most developed countries stock markets have experienced massive sales during the first half of the month and then recovered during the second half. In Europe, the reasons behind this significant decline […]

Comité d’investissement extraordinaire – 11/03/2016.

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Présents : Thierry, Laurent, Jacques, Dennis, Bart, Hervé. Absent : M-C Vu la volatilité sur les marchés européens, le comité s’est réuni en réunion extraordinaire ce 11 mars. Jeudi 10 mars : la BCE annonce des taux encore plus bas (-0.4%) et encore plus d’achats d’obligations (60 > 80 mlds). Du coup, les ordinateurs-robots projettent le Stoxx50 […]

MC Bolero Global Allocation fund – Investment strategy update – 11/03/16

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Markets volatility around central banks’ comments and decisions remain elevated. We think the latest ECB’s actions should be supportive for risky assets and justify an Overweight in equities, at least for now. A rebound in oil prices has also contributed to a shift in sentiment. In this context, we have increased the net equity exposure […]

February report – Global Strategy Fund

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Please find attached our Global Strategy Fund – February report : From where will the growth come? The introduction of negative rates is a final act of desperation… It only compounds the risks of financial instability and sets the stage for the next crisis. Nowadays, markets are still completely de-correlated from fundamentals. That is unfortunately […]

MC Bolero Global Allocation Fund – Global Investment strategy update – 24/02/2016

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• In line with our expectations highlighted in our 17th February edition, markets enjoyed broad based gains last week. • The global macroeconomic backdrop however is not encouraging. Signs are increasing the US will fall into recession in the next 6 to 12 months. Disappointing euro zone PMI data is adding to doubt the region can withstand […]