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2019 Scenario : The deterioration of the risk/reward ratio for assets justifies a highly selective investment approach

With no cyclic excessive production, stocking and investment observed in corporate activity so far, the economic growth cycle is expected continue in 2019. However, the end of the accommodating monetary policies of central banks and the…

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Flash – Equity markets

Early October, we witnessed a global drawdown in equity markets. The Eurostoxx 50 lost about 5,50% since the end of September (as of 15/10/2018), while the Stoxx Europe 600 lost about 6,15% over the same period. In the US, on October 11th , the…

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Third-party distribution: Groupama Asset Management reports net inflow of 2.5 billion since the beginning of the year

Growth of the assets under management of Groupama Asset Management is in line with the targets of the "GAM 2.022" strategic development plan officially announced at the start of the year. During the first six months of the year, the efforts…

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Balancing between the economic fundamentals, which continue to look good, and a resurgence in risks

The fundamental environment, at both macroeconomic and microeconomic levels, has confirmed its robustness during this first half-year. However, an increase in political and geopolitical risks has also been observable for several months. Although…

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Return of political risk on Italy

Three months after the parliamentary elections and the attempt to form an atypical government between the Five Star Movement (M5S) and the League (formerly known as the Northern League), Italy will probably go to the polls again by the autumn…

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MIFID II – research funding “Distinguishing between “standard” research and “specific” research”

Jean-Marie Catala explains the challenges and consequences of the reform of research funding under MIFID II -which took effect on 3 January - and the choices made by Groupama Asset Management in this field.

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Strong macroeconomic fundamentals will continue to support high-risk assets in 2018

Month after month, the macroeconomic fundamentals are confirming their robustness; establishing favourable conditions for the continued appreciation of high-risk assets. However, investors must remain attentive to the valuation levels of certain…

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Growth and Confidence, but not Complacency

By Christophe Morel, Chief Economist at Groupama Asset Management.

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Asset Allocation: Our preference for risk assets is maintained

The fundamental economic environment remains very favourable, so that, as predicted, central banks have been able to loosen their monetary policy. Our investment strategies remain essentially unchanged in this context, maintaining a selective…

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