The Fund's management is discretionary. The investment strategy is based on anticipating the evolution of the various markets (stocks, bonds) and/or the selection of securities. The portfolio is invested primarily in stocks, then in bonds and monetary instruments. The investment strategy is based on an approach that combines the analysis of sectoral developments and the selection of securities.
The analysis of economic statistics provides an image of the evolution of economic activity. It allows us to predict sectoral developments and ends with the selection of securities and/or the choice of companies best equipped to benefit from or suffer less from the expected developments. The selection of securities is based on a fundamental analysis of securities according to a microeconomic approach to the companies likely to be selected. The securities held may concern all economic sectors and will mainly relate to large and mid-cap companies. Selection is based on financial criteria (earnings growth, market ratios, etc.) and qualitative criteria (quality of the management team, fairness of information, etc.). Equity management favors reasonably priced growth stocks. It demonstrates flexibility in buying and selling based on opportunities and engages in trading operations aimed at improving performance. Issuer selection will be based on an analysis of company solvency and the risk/return ratio and may include securities of any rating or unrated securities.