PATRIMOINE
Combining resilience & long-term growth
The 30-year history of Patrimoine has been built on anticipating big secular growth trends, and hands-on management style. Front-running the Emerging Market and commodities theme of the 1990s, increasing equity exposure coming out of the 2008 crisis, and cutting exposure sharply during summer 2011 were all fundamental to our success.
We have always emphasised resilience in down markets, while aiming to capture upside in strong markets.
A wide-ranging, highly flexible portfolio comprised of equities, bonds and currencies. Equity exposure can be between zero and 50%, while a modified duration approach to bonds spans from -4 to +10. Our managers have the tools
to weather different market
conditions.
Key long-term investment themes
1. https://www.mckinsey.com/~/media/mckinsey
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2. https://yaleglobal.yale.edu/content/world-population-2020-overview
3. https://www.mckinsey.com/~/media/mckinsey/business%20function
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insights%20into%20how%20to%20play%20it%20right/mgi-briefing-note-twenty-five-years-of-digitization-may-2019.ashx
At least 50% of the portfolio is in bonds at all times
The team has an unconstrained mandate and can range from sovereigns in developed and emerging markets as well as across the entire credit spectrum.
Cross-capital structure for best portfolio mix
David and Rose benefit from the input on three levels to build an optimal asset allocation: Cross asset team provides global macro, technical and quantitative analysis; the
Strategic Investment Committee frames convictions
and Front Office Risk Management optimizes
portfolio construction and
calibrates positions.
SOURCE: Citywire Discovery, as at 30.09.2020. Performance is based on total return in EUR calculated gross of tax, bid to bid, ignoring the effect of initial charges and with income reinvested at the ex-dividend date. Average manager is the based upon the managers tracked globally in Citywire's Mixed Assets - Flexible EUR sector.
Past performance is not necessarily indicative of future performance. The Fund presents a risk of loss of capital. Fund over calendar years: 0.7% for 2015, 3.9% for 2016, 0.1% for 2017, -11.3% for 2018 an 10.6% over 2019. The return may increase or decrease as a result of currency fluctuations.
Calendar performances of the Fund’s reference indicator (50% MSCI ACWI (USD) (Reinvested net dividends) +50% Citigroup WGBI All Maturities(EUR)): 8.3% for 2015, 8.0% for 2016, 1.5% for 2017, -0.1% for 201 and 18.2% for 2019.
Patrimoine: long term resilience and diversification
