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

Outlook & Convictions - S1 2025

Market insights

Outlook & Convictions - S1 2025

05/02/2025

Benjamin Melman, our Global CIO AM, shares his insights for the upcoming months, focusing on major asset classes, essential themes, and priority regions as we enter the new year.

 

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Letter from the CIO AM : Tectonic movements and a reasonable allocation

Market insights

Letter from the CIO AM : Tectonic movements and a reasonable allocation

31/01/2025

Too many uncertainties are currently weighing on markets, amid unfavourable valuations, for us to expose our portfolios unduly to major market risks. In this regard, we have maintained our neutral view on the two main asset classes - bonds and equities - as well as our modest overexposure to Chinese equities. We kept up our equity exposure on account of the fading risk of a recession in the US, now all but removed, and of the stronger-than-expected resilience of the global economy.

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Letter from the CIO AM: The bull and the elephant in the (same) room

Market insights

Letter from the CIO AM: The bull and the elephant in the (same) room

18/11/2024

More than a victory, a triumph

Donald Trump and the Republicans have won full control of the White House and Congress. This scenario, which came with rather low odds in the opinion polls, has extended the “Trump trade” (bullish equity market and rising US long-term yields and dollar) and has this time around created a wider dichotomy between the United States and Europe (where equity indices and long-term yields are declining). Investors have focused on the Republican candidate’s promises of lower corporate taxes and deregulation in the US and rising tariffs for other trade partners – Europe included. 
They have also factored in deeper public deficits (rising real and nominal rates) and higher inflationary risks (rising inflation break-even rates). Markets have experienced violent swings since early October and the beginning of the “Trump trade”, with the S&P500 outperforming the Eurostoxx 50 by almost 9%.

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Special flash : US elections

Market insights

Special flash : US elections

06/11/2024

The Republican candidate's victory has now been confirmed. D. Trump becomes the 47th president in the history of the United States. He particularly benefited from the crisis of confidence among Americans regarding the economic situation in their country, with over 50% of them indicating it was their main concern, according to exit polls.

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