Edmond de Rothschild Asset Management

[English below] À l'aube de cette nouvelle année, nous tenons à vous remercier pour votre confiance et votre fidélité. Guidés par nos convictions et pleinement engagés pour le progrès, nous demeurons à vos côtés pour vous proposer nos solutions de gestion active et un accompagnement au plus proche de vos besoins. Nous vous souhaitons une année 2025 couronnée de succès, d’innovation et d’accomplissements. **** As we enter the new year, we would like to thank you for your trust and loyalty. Driven by our convictions and fully committed to progress, we remain at your side, offering our active investment solutions and support tailored to your needs. We wish you a year 2025 full of success, innovation, and achievements.   #MeilleursVoeux #BestWishes #NewYear

As long-term yields begin to stabilize and central banks embrace a more flexible approach in response to key economic indicators, the credit markets offer many interesting opportunities. Take part in our poll and share your insights on these opportunities!   To explore our insights in more detail, read our full outlook and convictions for 2025: https://lnkd.in/eNrRw-um   #EdRFixedIncome #Credit #MarketInsight

[𝗢𝘂𝘁𝗹𝗼𝗼𝗸 & 𝗖𝗼𝗻𝘃𝗶𝗰𝘁𝗶𝗼𝗻𝘀 𝗛𝟭 𝟮𝟬𝟮𝟱] – 𝗧𝗵𝗲𝗺𝗮𝘁𝗶𝗰𝘀 𝗳𝗼𝗿 𝟮𝟬𝟮𝟱: 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝗯𝗲𝘆𝗼𝗻𝗱 𝘁𝗵𝗲 𝘁𝗿𝗶𝗻𝗶𝘁𝘆 Momentum, generative #AI, and the #Trump Trade have reigned over equity markets in 2024. Sector and regional criteria, market capitalisations, and other thematics were relegated to the sidelines and fail to offer adequate means for interpreting the market’s performance drivers. The start of a new calendar year does not mean this will change. Nevertheless, this trio will only repeat its strong run in 2025 if it can overcome its own unique challenges. We shall examine these aspects in order of resilience, before turning to the possible thematic reading grids that are emerging for 2025. ­­­­­• The trump trade: the first victim in 2025? ­­­­­• Generative AI: torn between the prisoners’ dilemma and return on investment ­­­­­• Momentum: can this ‘ruler’ of us markets run out of steam?   To find out more, read the full article of Jacques-Aurélien Marcireau, CFA, our Co-Head of Equities. Version française : https://lnkd.in/eB9z7a55 #EdREquity #BigData #Resilience #TrumpTrade

#EdRMarketFlash: The US and Europe continue to diverge. ­­­­­• The latest developments in Europe have failed to improve political visibility. • In the US, the economy is still proving resilient. • We are sticking with our tactically positive stance on equities with the accent on the US and China. Our strategic view on investment grade credit is unchanged. To find out more, read our weekly Market Flash: https://lnkd.in/ei2-aGKf Version française : https://lnkd.in/e8Ab_arQ #AssetAllocation #USEquities #EuropeanEquities #CorporateDebt

[𝗢𝘂𝘁𝗹𝗼𝗼𝗸 & 𝗖𝗼𝗻𝘃𝗶𝗰𝘁𝗶𝗼𝗻𝘀 𝗛𝟭 𝟮𝟬𝟮𝟱] – 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗲𝗾𝘂𝗶𝘁𝗶𝗲𝘀 : 𝘁𝗵𝗲 𝗱𝗮𝘄𝗻 𝗼𝗳 𝗮 𝗻𝗲𝘄 𝗲𝗿𝗮 Europe is in the throes of a deep identity crisis blending economic stagnation, structural challenges and political instability. Investor sentiment is now so low that investors can find very good reasons to avoid European equities. Donald Trump’s election has accentuated investor scepticism, to the extent that the peak in negativity has either been, or is about to be, reached. And yet shouldn’t investors “buy on the sound of cannons” according to the conventional stock adage? Far from being doomed, Europe could surprise to the upside in 2025. The backdrop is less adverse that it seems at first sight, as support factors begin to fall into place. Furthermore, many of the options that could brighten up the outlook are now actually feasible. Admittedly - and this is rarely the case - all these options are political in nature, meaning it is difficult to factor them into a scenario. However, investors who fail to consider these factors run the risk of missing out on a market turnaround in 2025. To find out more, read the full article of Caroline Gauthier, our Co-Head of Equities. Version française : https://lnkd.in/eB9z7a55 #EdREquity #EuropeanEquities #Europe

[𝗢𝘂𝘁𝗹𝗼𝗼𝗸 & 𝗖𝗼𝗻𝘃𝗶𝗰𝘁𝗶𝗼𝗻𝘀 𝗛𝟭 𝟮𝟬𝟮𝟱] – 𝗖𝗿𝗲𝗱𝗶𝘁 𝗺𝗮𝗿𝗸𝗲𝘁𝘀: 𝗮𝘁𝘁𝗿𝗮𝗰𝘁𝗶𝘃𝗲 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗳𝗼𝗿 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀  As long-term yields begin to stabilise and central banks adopt a more flexible approach aligned with economic indicators (inflation, growth, unemployment...), despite a complex geopolitical context, Credit markets offer attractive opportunities notably within European High-Yield, financial subordinated debt, and corporate hybrids. It would be simple to say that thanks to carry yield, credit will deliver positive returns in 2025. However, pointing out opportunities this year will require digging a little deeper. These opportunities will undoubtedly play out over the short and mid-term. To find out more, read the full article of Alain Krief, our Head of Fixed Income Version française : https://lnkd.in/eB9z7a55 #EdRFixedIncome #HighYield #SubordinatedDebt #CorporateHybrids

By “rebuilding the city on the city”, Ginkgo contributes to limiting urban sprawl while delivering the quantity and quality of homes, offices and commercial premises needed in dynamic European urban centres. Partners like Ginkgo Advisor are essential to the Edmond de Rothschild Private Equity platform, enabling us to offer our customers innovative, visionary investment strategies that address the key issues of our time.

[𝗢𝘂𝘁𝗹𝗼𝗼𝗸 & 𝗖𝗼𝗻𝘃𝗶𝗰𝘁𝗶𝗼𝗻𝘀 𝗛𝟭 𝟮𝟬𝟮𝟱] - 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗶𝗻 𝗮 𝗳𝗿𝗮𝗴𝗺𝗲𝗻𝘁𝗲𝗱 𝘄𝗼𝗿𝗹𝗱 Discover our investment convictions for the first half of the year. Key takeaways: • Overweighting US equities has become a consensual choice that nobody can deny today. This position is however likely to change during the year. • 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 Fixed Income 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. To find out more, read the full article of Benjamin Melman, our Global Chief Investment Officer. Version française : https://lnkd.in/eB9z7a55 #EdRConvictions #AssetAllocation #InvestmentStrategy

We were thrilled to take part in the 5th Edition of Building Bridges held in #Geneva last week, in partnership with the UN Environment Programme.   Jean-Francis Dusch (#BRIDGE) highlighted how infrastructure debt supports the acceleration of major decarbonization and global warming reduction plans, like 'EU Fit for 55' in Europe and the development of sustainable infrastructure in Africa and Southeast Asia. Jean-Philippe Desmartin discussed the need for “Intergenerational Collaboration in Impact Investing.” Bruno Farber (Ginkgo Advisor) shared insights on Sustainable Urban Regeneration, emphasizing that Europe's built environment could generate EUR 1.1 trillion in economic and social benefits by 2035. Our panel on "Financing the Energy Transition in Emerging Markets" was introduced by Margarita Pirovska (Principles for Responsible Investment), who shared the latest trends in sustainable finance policies. She noted that since 2000, the G20 has introduced 20 distinct types of policies, with over 20 jurisdictions adopting ISSB standards. Policies supporting the transition to net zero have also tripled since 2020. Kay Hope, Daniela Savoia and Nathalie Wallace highlighted the advancements in emerging markets, particularly the rise of Green Bonds and innovative financing tools, while Maria Eugenia Sosa Taborda (United Nations Environment Programme Finance Initiative (UNEP FI)) emphasized the essential role of public-private partnerships in facilitating climate and social transitions.   A big thank you to the speakers and participants for their insightful contributions.   #BuildingBridges2024 #SustainableFinance #ImpactInvesting #EnergyTransition