The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.
The Fund is a common fund in contractual form (FCP) conforming to the UCITS Directive under French law.
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor), where applicable. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIDs (key information documents) and prospectuses available on this website. The KID must be made available to the subscriber prior to purchase.). The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager.
Market environment
• Wall Street outperformed other developed markets, driven by the technology sector, but was ultimately outpaced by emerging markets, which benefited from a weaker dollar.
• Ongoing concerns over the US deficit, declining consumption, repatriation flows from foreign investors, and increased currency hedging continued to weigh on the dollar.
• On the interest rate front, US Treasury yields declined across the curve, while German yields rose following the adoption of a record investment plan aimed at revitalizing Europe’s largest economy.
• The Fed kept rates unchanged but revised its inflation forecasts upward, while the ECB eased monetary policy by 25 basis points but remained vigilant regarding inflationary risks.