Why cash isn’t king : https://okt.to/6f1SCL “While temporarily worthwhile, holding cash tends to be less rewarding than a diversified portfolio.” Kevin Thozet Cash and cash equivalents have been performing well over the past two years. Better than a diversified portfolio allocated to both equities and bonds (sections in grey correspond to cash faring better than a diversified portfolio) in an environment where there were few places to hide as the worst bear market in fixed income markets continued to unfold (1). This phenomenon has possibly contributed to the success of the recent tapping of domestic savings by European governments (2). While in hindsight holding cash has been temporarily more rewarding that holding bonds and equities, looking in the rear view mirror has seldom been the best guide for future returns : https://okt.to/9pnUmN #Investment #Investing #Marketingcommunication #Assetmanagement (1) A US 10 year bond has lost over the past 3 years as much as the S&P 500 from top to lows in the midst of the COVID crisis. And a US 30 year bond has lost over that same period as much as the S&P 500 from top to lows in the midst of the Great Financial Crisis. (2) Italian BTP Valore, Belgium Bons Van Peteghem raising close to EUR 20 billion each in a matter of days.
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📢 The recent surge in equity market volatility reflects investor concern about the health of the US economy and the hype surrounding artificial intelligence. These fears have been exacerbated by technical factors (a lack of liquidity, extreme concentration of investor positioning) favouring extreme volatility. 🔍 What conclusions can we draw from this for the coming months? As far as equity markets are concerned, the results season did not reveal any significant change in company fundamentals compared with market expectations, which remain high. The slowdown in the US economy, the continued deceleration in inflation and the prospects of monetary easing by central banks should continue to provide a favourable environment for equity markets. However, this macroeconomic scenario has already been largely taken into account by the markets, so it is essential to actively manage the drivers of equity performance. We therefore remain cautious about the legitimacy of high valuation levels in relation to future growth potential. 💡 What investment strategy should be adopted in light of this volatility? In this context, we believe it is preferable to favour stocks offering high visibility and to reduce investments in the most popular stocks, which are more prone to the risk of disappointment, in favour of defensive stocks and segments. It is also important to diversify investments towards less emphasised companies and sectors, as market rises are currently concentrated in a small number of stocks. #assetmanagement #marketingcommunication #finance #investment #investinginyourinterest
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Rising US unemployment, resurgent geopolitical tensions and overcrowded market trades have triggered a surge in volatility and a global sell-off of risky assets. A solution like Carmignac Sécurité has been prepared to navigate this kind of market turmoil thanks to a barbell strategy, balancing highly-rated and short-dated credit exposure with safe-haven assets and money-market instruments. Its active and flexible investment philosophy, time-tested over the past 35 years, is also a real plus in this uncertain environment. To know more : https://okt.to/TIau0L #Investment #Marketingcommunication #Assetmanagement #Finance
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The voting season represents an opportunity for Carmignac to make our voice heard. During the 2024 voting season, we increased our support for shareholder-led resolutions, with 64% of them being supported. We cast a vote against management in 61% of the meetings we voted. In the interest of transparency, we share how we voted at the shareholder meetings of the companies in our portfolios, with a focus on the following key topics: • Executive pay • Technology advancements • Future of nutrition • Climate transition • Protection of minority shareholders’ interests • Empowerment of employees 🔎 Find out more about our 2024 voting activity: https://okt.to/3t1D5B #assetmanagement #marketingcommunication #finance #investment #investinginyourinterest
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In his role, Christian Elliott will support the firm’s growth strategy, with a focus on the wholesale and institutional client segments in London and the Channel Islands. He reports to Gavin Ward, who joined the company in September 2023 as head of UK business development. Gavin Ward comments: “Christian is joining Carmignac at an exciting time in our UK development. We’ve recently celebrated the fifth anniversary of our UK OEIC range and implemented a new business development strategy focused primarily on wholesale and institutional investors. I am confident Christian’s wealth of experience across the UK distribution market will prove most valuable as we serve our growing client base. We’re delighted to have him on board.” To know more → https://okt.to/criPfW #Investment #finance #marketingcommunication #assetmanagement #investinginyourinterest
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2024 continues to be marked by the return of merger and acquisition activity, mega deals and increased bids, after three years of a down cycle. To take advantage of this promising environment, don't hesitate to read the interview of our Merger and Arbitrage portfolio managers Fabienne Cretin Stephane Dieudonne : https://okt.to/Y2ZcOC #Investment #Investing #Marketingcommunication #Assetmanagement
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2024 continues to be marked by the return of merger and acquisition activity, mega deals and increased bids, after three years of a down cycle. To take advantage of this promising environment, don't hesitate to read the interview of our Merger and Arbitrage portfolio managers Fabienne Cretin Stephane Dieudonne : https://okt.to/5vA6fL #Investment #Investing #Marketingcommunication #Assetmanagement
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2024 continues to be marked by the return of merger and acquisition activity, mega deals and increased bids, after three years of a down cycle. To take advantage of this promising environment, don't hesitate to read the interview of our Merger and Arbitrage portfolio managers Fabienne Cretin Stephane Dieudonne : https://okt.to/38wHxS #Investment #Investing #Marketingcommunication #Assetmanagement
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📝 We are pleased to present our 2023 Stewardship Report introduced by a foreword from our Chairman and CIO, Edouard Carmignac. 🔎 The report provides details on how we integrate stewardship considerations into each stage of our investment process, which we believe are more important than ever before. 🌱 Specific topics discussed include how we are considering climate change, ESG in sovereign bonds and investment aligned to the United Nation’s Sustainable Development Goals, amongst a range of other topics. #assetmanagement #marketingcommunication #finance #investment
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The role of currencies is often misunderstood, leading to a "home-currency bias" among most investors. However, incorporating currencies into a portfolio can optimise asset allocation. In fact, currencies can operate as both an alpha driver and a hedging strategy, thereby improving the risk-adjusted returns of a global allocation. #Investment #Investing #Marketingcommunication #Assetmanagement
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📢 Guillaume Rigeade is nominated for best Fund Manager of the year to the IV Edition of the RankiaPro Europe Awards. You can support him by voting here → https://lnkd.in/g2R_ssYm #assetmanagement #finance #marketingcommunication #investment #carmignac
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