ESG, SRI

Active Ownership: Persistence Pays

If some elements of our annual 2024 Annual Engagement and Voting Review sound familiar, that’s no coincidence. To maximize our impact, we focus on long-term core topics. Engagement and voting are central to our investment process, extending beyond the important responsibility of the investments we already hold.
Monthly Coffee Break, Fixed Income

De-correlation on both sides of the Atlantic

On rates markets, August and the first week of September were marked by a noticeable de-correlation on both sides of the Atlantic. While Euro rates moved sideways, Treasury yields declined significantly, especially at the short end of the curve. This shift and steepening of the curve reflects a weakening labour market, accelerating Fed rate cut expectations.
Monthly Coffee Break, Alternative Investments

Dovish Fed takes the upper hand

Activity paused leading up to the Jackson Hole Economic Symposium, where a potential pivot in Federal Reserve policy was revealed by Chairman Jerome Powell, hinting at a possible easing cycle.
Monthly Coffee Break, Equities

The US market still at the forefront

European equities were slightly higher in August but continue to underperform US equities. European macro data were mixed, with PMIs improving in manufacturing but weakening in services.
Nadège Dufossé, Asset Allocation

Europe: From Early Lead to Inflection

From January through the end of May, European equities reclaimed leadership. In local currency, the MSCI EMU beat the MSCI World by roughly six to seven percentage points, and the quality of that advance was unmistakably value-tilted: banks and insurers led from the front, with telecom services, utilities and industrials providing consistent breadth.
Coffee Break

Coffee Break

The ECB interest rate decision will be closely watched for how the bank balances inflation nearly at target with sluggish growth in the region.

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