Multi-Asset & Overlay, our expertise.


A fundamental top-down approach, combined with rigorous risk management, offering a wide range of investment solutions and generating optimal risk-adjusted returns.
Wine cellars of Château de Malengin, Montagne Saint-Emilion
Our strength in Multi-Asset & Overlay is built upon our capacity to meet a wide range of specific investment objectives and risk diversification through a conviction-driven investment approach. In the words of our head of Multi-Asset & Overlay: 

We use a fundamental, top-down approach aimed at processing and anticipating global macroeconomic developments. Our objective is to achieve optimal diversification, in order to build efficient portfolios and to actively control risk.

Michael Nizard

Head of Multi-Asset & Overlay

Our strength in Multi-Asset & Overlay is built upon our capacity to meet a wide range of specific investment objectives and risk diversification through a conviction-driven investment approach. In the words of our head of Multi-Asset & Overlay: 

We use a fundamental, top-down approach aimed at processing and anticipating global macroeconomic developments. Our objective is to achieve optimal diversification, in order to build efficient portfolios and to actively control risk.

Michael Nizard

Head of Multi-Asset & Overlay

Optimal diversification
& risk management

056Chais 02 056Chais 02
Wine cellars of Château des Laurets, Saint-Emilion

Edmond de Rothschild Asset Management deploys an investment-led approach, bringing together complementary teams to offer investors exposure to many market segments within the Multi-Asset & Overlay division. The investment team creates strong synergies and interacts with all our equity and fixed income portfolio managers.

Our strategies allow investor to benefit from the advantages and opportunities of a wide range of asset classes and market instruments. The investment process is based both on conviction and on tactical and flexible investment management.

We draw on our proven expertise across the main asset classes and our capacity to use hedging tools to offer various investment solutions designed to meet specific investor needs.

Innovation is at the heart of our strategy. Our commitment is reflected in periodic strategic reviews of our processes, continuous enhancement of our tools, and by the introduction of new approaches & strategies.

Latest 
Multi-Asset & Overlay insights

EdR Fund Bond Allocation: A flexible approach amidst contrasting market dynamics

Thematic and product insights

EdR Fund Bond Allocation: A flexible approach amidst contrasting market dynamics

20/05/2025

Depuis le début de l’année, les marchés obligataires évoluent dans un environnement macroéconomique mouvant, marqué par des signaux contradictoires entre les grandes zones économiques. Alors que la Chine était confrontée aux mesures protectionnistes américaines, avec en toile de fond un ralentissement de l’activité économique, l’économie américaine, longtemps perçue comme résiliente, commence à montrer des signes d’essoufflement. Les craintes d’une récession outre-Atlantique se renforcent, alimentées par la perspective d’une baisse de la consommation et une résurgence de l’inflation. 
Les investisseurs doivent ainsi composer avec des dynamiques divergentes et une visibilité limitée sur les trajectoires des taux d’intérêt aux Etats-Unis, rendant, selon nous, les stratégies obligataires flexibles plus pertinentes que jamais.

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Letter from the CIO AM : Has the elephant smashed the China?

Market insights,

Letter from the CIO AM : Has the elephant smashed the China?

07/05/2025

So far this year, market performances have been essentially driven by political factors. Although the S&P500 index is now returning to its pre-Liberation Day levels, all indicators suggest that CEO and consumer confidence has dived since Trump’s announcements. The market rebound seems fuelled by a notion conveyed by the Trump administration that from July 4th, the government would turn the page on protectionism and switch to its tax cut and deregulation programmes

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Letter from the CIO AM : When politics spill over into markets and the economy

Market insights,

Letter from the CIO AM : When politics spill over into markets and the economy

11/03/2025

The first weeks of Donald Trump’s mandate are unfolding at a staggering pace and in chaotic fashion, leaving observers increasingly stunned. And yet, events are proceeding as planned according to his programme. Donald Trump is doing what he said he would.

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And Europe woke up

Market insights,

And Europe woke up

07/03/2025

There are decades when nothing happens, and there are weeks when decades happen. This is how one might sum up the general impression after the events of the past week, so profoundly have they upset geopolitical, economic and financial balances. The scene of tensions between V. Zelenskyy and D. Trump on Friday February 28 symbolized the break-up of the Atlantic alliance and the end of the peace dividend on which Western economies and financial markets have prospered in recent decades, leading Germany to overturn its entire fiscal and constitutional framework in order to gain the means to acquire strategic independence from the United States.

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