Step 1 : Environment Analysis
- We undertake a quantitative and qualitative analysis of market conditions and outlook
- This assessment of the economic environment helps us identify investment opportunities and risky areas
- The objective is to set an overall risk level for the portfolio, along with an equity exposure range
Step 2 : Ressource Allocation
- Our objective is to determine which strategies to overweight and underweight
- Our allocation is based on our convictions by asset class and geographical regions
- The combination of our convictions is reflected within the portfolio, while complying with the risk budget that has been set
Step 3 : Investment vehicle selection
Based on strategies and geographical regions, we select suitable investment vehicles:
- On euro zone equities, our choice is based on our management team’s strongest convictions, within the rules of our Equity management process
- Use of bonds, futures and ETFs within a listed, coordinated and eligible universe
- Mutual funds are selected on the basis of a thorough structured procedure within a proprietary tool
Step 4 : Portfolio Construction
- The portfolio is constructed on the basis of allocation decisions and selected investment tools
- Constant monitoring of positions and compliance with risk constraints
- Tactical adjustments of positions based on market opportunities