A propos

A propos de H2O AM

Cofondée par quatre associés en 2010, H2O se positionne autour des valeurs fondamentales de performance, liquidité et transparence
1

Employés

1

Gérants

1 mds EUR

Actifs sous gestion au 31/01/2022

1

ans d'expérience en asset management

Historique

Une équipe global macro expérimentée.

H2O Asset Management LLP («H2O») est une société de gestion global macro lancée en août 2010. Outre son siège social à Londres, H2O a ouvert des bureaux à Monaco (H2O Monaco), à Singapour (H2O AM Asia), à Paris (H2O AM Europe) puis à Genève (H2O AM Switzerland SA).

Dès le lancement, H2O a conclu un triple partenariat avec Natixis Investment Managers («NIM» (*)): capitalistique car NIM détient 50,01% des actions et les partenaires de H2O les 49,99% restants; opérationnel car les gérants des fonds H2O ont intégré leurs systèmes de front-office, back-office et de suivi des risques du Groupe; commercial car NIM est le distributeur des UCITS gérés par H2O.

(*) Natixis Investment Managers propose aux professionnels de la finance des moyens plus efficients pour construire des portefeuilles. Propulsés par l’expertise de 26 gestionnaires d’investissement spécialisés, ils appliquent des solutions d’active thinking pour fournir des solutions proactives qui aident les clients à obtenir de meilleurs résultats sur  les marchés financiers.

un affilié de

ADN H2O

Nos valeurs

Philosophie

Une approche à long terme, top down, principalement  en valeur relative, et sans contrainte.

La perception du marché par les investisseurs et les biais de gestion constituent une source de performance robuste.

Style

Des décisions d’investissement discrétionnaires agrémentées d’une solide ingénierie.

Stratégies long / short déterminées par l’analyse de facteurs de marché.

Processus

Focus sur la construction de portefeuille: diversification par horizon, classes d’actifs et instruments.

Focus sur la construction de portefeuille: diversification par horizon, classes d’actifs et instruments. Cohérence totale entre l’établissement des vues, l’allocation de risques et l’attribution de performance.

Sustainable Finance Disclosures​

At a firm level at H2O Asset Management the integration of sustainability risks is done through a systematic exclusion based on regulatory requirements, client specific requests, and wider Natixis group policies across all funds. These exclusions apply to sectors and countries under international sanctions. In addition, countries identified by FATF require additional due diligence and approval from the Compliance team before any investments can take place. This is consistent with the risk based approach defined in the EU AML Directive. Some of these exclusions can overlap with other exclusions based on the list of forbidden investments from Oslo and Ottawa conventions that are also applied by H2O.

Where the funds invest into individual equity securities, H2O is committed to engagement on ESG matters with the management of the companies by exercising our proxy voting rights. H2O is working on setting up a process to utilise the advice of ISS in its proxy voting considerations. We are currently working on our firm-wide ESG policy, which will provide further information on these matters.

H2O’s investment approach is top-down and global macro. As such, the primary criteria used when making investment decisions relate to macroeconomic themes, market data and broad asset risk considerations rather than a bottom-up analysis of individual corporations and sectors. At present, H2O does not integrate ESG analysis in the management of the entire range of funds. Having said that, as H2O has continued to develop its business and created more market access products, including credit focused portfolios, the investment team has been working on integrating the sustainability factors into the investment process for some of the portfolios. We are also looking at integrating sustainability factors into our front office and risk management tools, with a view to progressively move towards a more broad-based assessment of sustainability risks on our portfolios.

We currently do not perform principal adverse impact assessment at both the firm and product levels on sustainability factors*. However, our policies and procedures will be reviewed accordingly as the opportunities to further incorporate sustainability risks and impact of our business on sustainability factors arise.

At the corporate level H2O promotes sustainability and environmental awareness, and has implemented the following in an effort to reduce our footprint:

  • Incorporate energy and water efficiency measures including the use of energy efficient lighting, computer monitors and electric appliances
  • Promote efficient use of resources in all areas of business activity
  • Implement waste management strategies that promote waste minimisation, including removal of plastic and paper cups, recycling programme across the office premises, use of reusable cups, water bottles and cutlery. We aim to ensure that our waste is disposed of in a way that minimises its impact on the environment
  • Promote the use of eco friendly transportation for business travel, as well as the use of the cycle-to-work scheme internally: a large proportion of our staff commutes to work an environment-friendly way (walking, running, cycling, taking the underground)
  • Take into account the environmental impact of products we use (carbon neutral paper, recycled office stationary and other office supplies)
  • Ensure that our staff is aware of the environmental impacts of their work activities and encourage them through awareness raising.

*”Sustainability factors” mean environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters according to SFDR.

Protection contre la dilution

Swing Pricing Policy

Soucieuse de préserver les intérêts de ses détenteurs à long terme, H2O Asset Management a mis en place depuis 2017 un mécanisme de swing pricing basé sur la méthodologie préconisée par la charte de l’AFG. L’introduction du swing pricing concerne uniquement les fonds UCITS suivants:

  • H2O Adagio FCP
  • H2O Moderato FCP
  • H2O MultiBonds FCP
  • H2O MultiStrategies FCP
  • H2O Vivace FCP
  • H2O Allegro FCP
  • H2O EuroAggregate
  • H2O MultiEquities FCP
  • H2O Largo
  • H2O MultiAggregate Fund
  • H2O Multi Emerging Debt Fund
  • H2O EuroSovereign
  • H2O EuroSovereign 3-5 years
  • H2O Barry Active Value
  • H2O MultiAsia