Julien Moutier

“Over the last month, our balanced portfolio has benefited from several bets such as European equities and corporate/emerging high yield. We have further noticed a strong momentum of the total return strategy managed by Crédit Agricole, CAAM Dynarbitrage VaR 20, which benefits from good shape of the US dollar versus the Canadian one. We maintain our under-sensitive strategy on governmental fixed income, which has protected the fund from a strong correction on bonds since the beginning of December. This bet has been recently confirmed by the last US growth figures for the fourth quarter and the FOMC Rate decision to keep them unchanged.”