Overweighting US equities has become a consensual choice that nobody can deny today. This position is however likely to change during the coming months.
The theme of resilience, i.e investing in companies able to withstand further disruptions to the global production chain and a firmer pursuit of sovereignty and security, now occupies a central place.
In the bond markets, we are unwinding our overweight on emerging bonds pending the arrival of the Trump administration, and increasing our exposure to subordinated financial bonds and corporate hybrids.
SUMMARY
Asset Allocation: Opportunities in a fragmented world
Benjamin Melman, Global CIO AM
Credit markets: Attractive opportunities for investors in 2025!
Alain Krief, Head of Fixed Income
European equities: The dawn of a new era
Caroline Gauthier, Co-Head of Equities
Asset Management philosophy: Thematics for 2025: Looking beyond the trinity
Jacques-Aurélien Marcireau, Co-Head of Equities