Generated by All in One SEO v4.9.4.1, this is an llms.txt file, used by LLMs to index the site. # H2O Asset Management An independent asset management company ## Sitemaps - [XML Sitemap](https://www.h2o-am.com/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [Insights & Views](https://www.h2o-am.com/insights/) - Explore the latest publications and insights from H2O Asset Management, including market analysis, corporate news, and press releases. - [Podcast ThinkMacro : Episode 6](https://www.h2o-am.com/fr/podcast-thinkmacro-episode-6/) - Entre politiques expansionnistes, dette croissante et dépendance aux mesures de soutien, l’économie américaine affiche une vigueur trompeuse. Vincent Chailley, Directeur des investissements d’H2O AM Groupe analyse les ressorts de cette croissance artificielle et les risques qui en découlent : jusqu’où la première économie mondiale peut-elle tenir sous perfusion ? - [ThinkMacro Podcast : Episode 6](https://www.h2o-am.com/thinkmacro-podcast-episode-6/) - Fueled by stimulus and debt, the U.S. economy appears resilient — but the foundations may be far weaker than they seem. Vincent Chailley, H2O AM Group CIO breaks down the drivers of this artificial high and the risks behind it: how long can America sustain its growth on borrowed momentum? - [H2O AM lance Generative Global Macro,un fonds discrétionnaire s’appuyant sur l’IA Générative pour identifier les biais de finance comportementale](https://www.h2o-am.com/fr/h2o-am-lance-generative-global-macroun-fonds-discretionnaire-sappuyant-sur-lia-generative-pour-identifier-les-biais-de-finance-comportementale/) - Paris, Londres, Monaco, 22/01/2026 En intégrant des outils d’IA Générative, ce nouveau fonds s’inscrit dans le savoir-faire historique d’H2O AM et vient enrichir l'expertise en finance comportementale de la société de gestion. S’appuyant sur une approche Global Macro et top-down, expertise historique de la société, son objectif sera de surperformer le taux quotidien ESTER +2.00% - [H2O AM launches Generative Global Macro, a discretionary fund supported by generative AI to identify behavioural finance biases](https://www.h2o-am.com/h2o-am-launches-generative-global-macro-a-discretionary-fund-supported-by-generative-ai-to-identify-behavioural-finance-biases/) - Paris, London, Monaco, 22/01/2026 By integrating Generative AI tools, this new fund builds on H2O AM's long-standing expertise and further enhances the asset management company's behavioural finance acumen. Based on a global macro and top-down approach, the company's historical expertise, its objective will be to outperform the ESTER daily rate +2.00% per year*1 over a - [Bilan 2025](https://www.h2o-am.com/fr/bilan-2025/) - En 2025, au sein de nos portefeuilles, nos stratégies sur les marchés émergents ont été les principales contributrices à la génération d'alpha - [2025 Performance Review](https://www.h2o-am.com/2025-performance-review/) - Within our allocation, the Emerging Markets segment has been the largest contributor to alpha generation this year. Our comprehensive assessment of the current investment landscape continues to favour emerging economies, which have recorded another year of improvement in both trade balances and capital accounts. This progress has materially reduced their reliance on foreign capital to correct historically persistent external imbalances. - [Podcast ThinkMacro : Episode 5](https://www.h2o-am.com/fr/podcast-thinkmacro-episode-5/) - Entre la perte d’efficacité des politiques économiques aux États-Unis, la résilience européenne, la transition chinoise et la montée en puissance des marchés émergents, notre nouvel épisode de Think Macro explore les dynamiques macroéconomiques qui redéfinissent l’équilibre mondial. - [ThinkMacro Podcast : Episode 5](https://www.h2o-am.com/thinkmacro-podcast-episode-5/) - Between the loss of effectiveness of economic policies in the United States, European resilience, China's transition and the rise of emerging markets, our new episode of Think Macro explores the macroeconomic dynamics that are reshaping the global balance. - [Podcast ThinkMacro : Episode 4](https://www.h2o-am.com/fr/podcast-thinkmacro-episode-4/) - Dans cet épisode de Think Macro, Vincent Chailley, CIO Groupe d’H2O AM, décrypte une anomalie de marché frappante : alors que les banques centrales baissent leurs taux directeurs, les taux longs continuent de grimper. - [ThinkMacro Podcast : Episode 4](https://www.h2o-am.com/thinkmacro-podcast-episode-4/) - In this episode of Think Macro, Vincent Chailley, CIO of H2O AM Group, explores an unusual market dynamic: central banks are cutting policy rates, yet long-term yields keep rising. - [ThinkMacro Podcast : Episode 3](https://www.h2o-am.com/thinkmacro-podcast-episode-3/) - We discuss a subject that has captured immense attention and investment: artificial intelligence. AI is often described as the new electricity and is frequently compared to past technological booms such as the dot-com bubble or the telecom surge. It has attracted vast amounts of capital and, in recent months, has provided a notable boost to the - [Podcast ThinkMacro : Episode 3](https://www.h2o-am.com/fr/podcast-thinkmacro-episode-3/) - Présentée comme une révolution comparable à celles d’Internet ou des smartphones, l’IA attire une vague d’investissements sans précédent et suscite de fortes attentes en matière de croissance et de productivité. La question centrale est donc la suivante : quel est l’impact de ces investissements sur les marchés, en particulier américains, et sur l’économie mondiale ? - [Avis internet - Adhésion au fonds de garantie des services de gestion](https://www.h2o-am.com/fr/avis-internet-adhesion-au-fonds-de-garantie-des-services-de-gestion/) - H2O AM adhère conformément à la loi, au fonds de garantie des services de gestion géré par le Fonds de Garantie des Dépôts et de résolution (FGDR). - [Internet Notice - Adhesion to the management services guarantee fund ](https://www.h2o-am.com/internet-notice-adhesion-to-the-management-services-guarantee-fund/) - H2O AM adheres, in accordance with the law, to the management services guarantee fund managed by the Fonds de Garantie des Dépôts et de Résolution (FGDR). - [H2O AM nomme un Responsable Innovation en IA Générative](https://www.h2o-am.com/fr/h2o-am-nomme-un-responsable-innovation-en-ia-generative/) - H2O AM annonce la nomination de Timothée Consigny au poste de Responsable Innovation en Intelligence Artificielle Générative (GenAI). - [H2O AM appoints Head of GenAI Innovation](https://www.h2o-am.com/h2o-am-appoints-head-of-genai-innovation/) - H2O AM announces the appointment of Timothée Consigny to the position of Head of Innovation in Generative Artificial Intelligence (GenAI). - [H2O INVEST - Assemblée Generale du 30/10/2025 (Belgique)](https://www.h2o-am.com/fr/h2o-invest-assemblee-generale-du-30-10-2025-belgique/) - [H2O INVEST - Assemblée Generale du 30/10/2025 (Suisse)](https://www.h2o-am.com/fr/h2o-invest-assemblee-generale-du-30-10-2025/) - [H2O INVEST - General Meeting of October 30th 2025 (Spain)](https://www.h2o-am.com/h2o-invest-general-meeting-of-october-30th-2025-spain/) - [H2O INVEST - General Meeting of October 30th 2025 (Germany)](https://www.h2o-am.com/h2o-invest-general-meeting-of-october-30th-2025-germany/) - [H2O INVEST - General Meeting of October 30th 2025 (Netherlands)](https://www.h2o-am.com/h2o-invest-general-meeting-of-october-30th-2025-netherlands/) - [H2O INVEST - General Meeting of October 30th 2025 (Luxembourg)](https://www.h2o-am.com/h2o-invest-general-meeting-of-october-30th-2025-luxembourg/) - [H2O INVEST - General Meeting of October 30th 2025 (Italy)](https://www.h2o-am.com/h2o-invest-general-meeting-of-october-30th-2025-italy/) - [H2O INVEST - General Meeting of October 30th 2025 (United Kingdom)](https://www.h2o-am.com/h2o-invest-general-meeting-of-october-30th-2025-united-kingdom/) - [Podcast ThinkMacro : Episode 2](https://www.h2o-am.com/fr/podcast-thinkmacro-episode-2/) - Il y a 15 ans, l’Europe frôlait le démantèlement. Aujourd’hui, la zone est économiquement solide : elle exporte, l’inflation est sous contrôle, et le chômage est plutôt bas. L’euro offre de la stabilité aux pays du sud et, par sa relative décote, de la compétitivité aux pays du nord. La dette est solidement détenue par des institutions locales, sa mutualisation a commencé. Elle ne peut plus vraiment être attaquée. - [ThinkMacro Podcast : Episode 2](https://www.h2o-am.com/thinkmacro-podcast-episode-2/) - In this episode, we will reflect on Europe: its apparent stability, its underlying vulnerabilities, and above all, how it can mobilise its capital to return to innovation and growth. Let's get started. - [L’Offre de sortie des fonds cantonnés d’H2O AM LLP a rencontré un vif succès avec un taux de participation de 79,54%](https://www.h2o-am.com/h2o-am-llps-offer-to-exit-side-pocketed-funds-achieves-substantial-endorsement-with-a-participation-rate-of-79-54/) - Le taux de participation à l’Offre proposée par H2O AM LLP, lancée le 15 octobre 2024 et clôturée le 24 janvier 2025, est de 79,54% des encours des fonds cantonnés. Les porteurs ayant participé à l’Offre restent éligibles à tout remboursement futur, processus dans lequel H2O AM reste pleinement engagé. Ainsi, les porteurs ayant vendu - [Information pour les actionnaires du compartiment Global L/S Opportunities (le « Compartiment ») de la SICAV H2O Lux Invest](https://www.h2o-am.com/fr/information-pour-les-actionnaires-du-compartiment-global-l-s-opportunities-le-compartiment-de-la-sicav-h2o-lux-invest/) - Londres, le 04/08/2025 H2O AM LLP informe les actionnaires du Compartiment qu'elle propose une solution pour céder leurs actions. À l'instar de celle proposée aux porteurs de parts des fonds français et tout en tenant compte des contraintes financières du groupe H2O AM, H2O AM LLP propose de racheter les actions du Compartiment dans le - [Information for shareholders of the Global L/S Opportunities sub-fund (the “Sub-Fund”) of the H2O Lux Invest SICAV](https://www.h2o-am.com/information-for-shareholders-of-the-global-l-s-opportunities-sub-fund-the-sub-fund-of-the-h2o-lux-invest-sicav/) - London, 04/08/2025 H2O AM LLP would like to inform shareholders of the Sub-Fund that it is offering a solution for the sale of their shares. Similar to the one proposed to unitholders of French side-pocketed funds, while taking into account the financial constraints of the H2O AM Group, H2O AM LLP is putting forward an - [ThinkMacro Podcast : Episode 1](https://www.h2o-am.com/thinkmacro-podcast-episod-1/) - After decades of US economic exceptionalism, driven by consumption, innovation, and financial dominance, cracks are appearing in the model. The return of inflation is constraining the Fed in its ability to sufficiently ease financial conditions in a downturn, and the US Treasury in its capacity to stimulate the economy without triggering a negative reaction from investors. - [Podcast ThinkMacro : Episode 1](https://www.h2o-am.com/thinkmacro-podcast-episod-1/) - Après des décennies d’exceptionnalisme économique américain, porté par la consommation, l'innovation et une domination financière, des fissures apparaissent dans ce modèle. Le retour de l’inflation limite la capacité de la Fed à assouplir suffisamment les conditions financières en période de ralentissement, tout comme celle du Trésor américain à stimuler l’économie sans provoquer une réaction négative des investisseurs. - [H2O AM LLP prend acte de la décision du Conseil d’État et se projette vers l’avenir](https://www.h2o-am.com/h2o-am-llp-acknowledges-the-conseil-detats-decision-and-looks-to-the-future/) - Londres / Paris, le 15/06/2025 H2O AM LLP prend acte de la décision du Conseil d’Etat relatif à la décision de la Commission des sanctions de l’Autorité des Marchés Financiers (AMF) du 30 décembre 2022. H2O AM LLP déplore, d’une part, que les arguments portant sur le fond comme sur des problématiques juridiques majeures soulevées - [H2O AM LLP acknowledges the Conseil d'État's decision and looks to the future](https://www.h2o-am.com/h2o-am-llp-acknowledges-the-conseil-detats-decision-and-looks-to-the-future/) - London / Paris, 15/06/2025 H2O AM LLP acknowledges the Conseil d'Etat's decision regarding the Enforcement Committee of the Autorité des Marchés Financiers’ (AMF) decision dated 30 December 2022. Firstly, H2O AM LLP deplores that its arguments on the substance of the decision were not accepted, as well as the major legal issues raised in its - [Fonds cantonnés](https://www.h2o-am.com/fr/fonds-cantonnes/) - Communiqué de Presse Vidéo : Retour sur l'Offre de sortie définitive des fonds cantonnés Le taux de participation à l’Offre proposée par H2O AM LLP, lancée le 15 octobre 2024 et clôturée le 24 janvier 2025, est de 79,54% des encours des fonds cantonnés. Les porteurs ayant participé à l’Offre restent éligibles à tout remboursement - [H2O AM Governance Evolution](https://www.h2o-am.com/h2o-am-governance-evolution/) - H2O AM is nearing the completion of its side pockets (SPs) resolution, following its comprehensive Offer to exit the SP funds. In alignment with this progress and to synchronise with its focus on growth dynamic, the company announces an evolution in its governance structure within the Global Executive Committee, with the introduction of the roles of Chair and Vice-Chair in lieu of the CEO role. - [Évolution de la gouvernance d’H2O AM](https://www.h2o-am.com/h2o-am-governance-evolution/) - H2O AM a franchi une nouvelle étape vers la résolution des fonds cantonnés (SP) avec la finalisation de l’offre de sortie des SP. Dans le prolongement de cette avancée majeure et portée par une ambition affirmée de croissance, la société annonce une évolution de sa structure de gouvernance au sein du Comité Exécutif Global, avec l’introduction des rôles de Président et de Vice-Président en lieu et place du rôle de Directeur Général. - [H2O AM LLP’s Offer to exit side-pocketed funds achieves substantial endorsement, with a participation rate of 79.54%](https://www.h2o-am.com/h2o-am-llps-offer-to-exit-side-pocketed-funds-achieves-substantial-endorsement-with-a-participation-rate-of-79-54/) - The participation rate for the Offer proposed by H2O AM LLP, which was launched on 15 October 2024 and closed on 24 January 2025, has reached 79.54% of the side-pocketed funds' assets under management. Participating unitholders remain eligible for any future reimbursements, a process to which H2O AM remains fully committed. As a result, unitholders - [H2O AM consolide son équipe Relations Investisseurs avec la nomination d’une Directrice commerciale, renforçant sa présence en Allemagne et en Autriche](https://www.h2o-am.com/h2o-am-strengthens-investor-relations-team-with-appointment-of-sales-director-consolidating-german-and-austrian-presence/) - H2O AM a le plaisir d'annoncer la nomination de Karina Perwald-Leroy en tant que Directrice Commerciale pour les marchés allemand et autrichien. Dans ses nouvelles fonctions, Karina assumera la distribution et la commercialisation des fonds dans ces régions et assurera un service client au quotidien, en veillant à ce que les clients allemands et autrichiens disposent d'un interlocuteur dédié pour répondre à leurs besoins. - [H2O AM strengthens Investor Relations Team with appointment of Sales Director, consolidating German and Austrian presence](https://www.h2o-am.com/h2o-am-strengthens-investor-relations-team-with-appointment-of-sales-director-consolidating-german-and-austrian-presence/) - H2O AM is pleased to announce the appointment of Karina Perwald-Leroy as Sales Director for German and Austrian markets. In this role, Karina will be responsible for the sale and distribution of funds across the region and provide day-to-day client services, ensuring that German and Austrian clients have a dedicated point of contact for their needs. - [The Two faces of American Exceptionalism](https://www.h2o-am.com/the-two-faces-of-american-exceptionalism/) - In the 1990s, the United States' openness to immigration and financial deregulation facilitated the extension of its neoliberal model that had been revitalised a decade earlier. - [Les deux visages de l’exceptionnalisme américain](https://www.h2o-am.com/fr/les-deux-visages-de-lexceptionnalisme-americain/) - Dans les années 1990, l’ouverture des États-Unis à l’immigration et la déréglementation financière ont favorisé l’expansion de son modèle néolibéral, revitalisé une décennie plus tôt. - [La Macro compte aussi pour les marchés actions](https://www.h2o-am.com/fr/la-macro-compte-aussi-pour-les-marches-actions/) - Les relocalisations et le retour de l’inflation marquent la fin d’une période d’exception : l’ère des taux zéro. Alors que les perspectives de rendement des actions restent solides, leur coût en termes de risque a durablement augmenté et la protection offerte par les obligations est plus aléatoire. Directionnellement, l’intérêt de la classe d’actifs a ainsi diminué. - [Macro also matters for equities](https://www.h2o-am.com/macro-also-matters-for-equities/) - The relocation of supply chains and the resurgence of inflation mark the end of an exceptional era: the zero-interest rates period. Although the outlook for equity returns remains promising, the associated risk has durably increased, while the protection traditionally offered by bonds is now more uncertain. On a directional basis, the attractiveness of this asset class has waned. - [Revue de Performance 2024](https://www.h2o-am.com/fr/revue-de-performance-2024/) - Principalement influencée par les dynamiques de marché, l’année 2024 a été notablement déconnectée des tendances macroéconomiques sous-jacentes. - [2024 Performance Review](https://www.h2o-am.com/2024-performance-review/) - Driven primarily by market dynamics, 2024 was notably disconnected from underlying macroeconomic trends. While it emerged as another year of sustained global growth, led by the United States, markets faced three significant anti-value events, an unusual combination for a single year. - [Offer to exit side-pocketed funds: three weeks from deadline, the participation rate indicates strong interest in H2O AM LLP's Offer, with an accelerated rate of 2,000 new participants per day](https://www.h2o-am.com/offer-to-exit-side-pocketed-funds-three-weeks-from-deadline-the-participation-rate-indicates-strong-interest-in-h2o-am-llps-offer-with-an-accelerated-rate-of-2000-new-participants-per-day/) - London/Paris, 07/01/2025 The offer to exit the side-pocketed funds, launched 11 weeks ago on 15 October 2024, has reached a significant milestone with a participation rate now estimated at over 60% of assets in the side-pocketed funds. This estimate is based on a projection taking into account subscriptions to the Offer recorded to date (over - [Offre de sortie des fonds cantonnés : À trois semaines de l'échéance, le taux de participation témoigne d’un fort intérêt pour l’Offre d’H2O AM LLP, avec un rythme accéléré de 2’000 nouveaux adhérents par jour](https://www.h2o-am.com/fr/offre-de-sortie-des-fonds-cantonnes-a-trois-semaines-de-lecheance-le-taux-de-participation-temoigne-dun-fort-interet-pour-loffre-dh2o-am-llp-avec-un-rythme-accelere-de/) - Londres, le 07/01/2025 L’Offre de sortie des fonds cantonnés, lancée il y a 11 semaines, le 15 octobre 2024, vient de franchir une étape significative avec un taux de participation pouvant désormais être estimé comme d’ores et déjà supérieur à 60% des encours . Cette estimation est basée sur une projection prenant en compte les - [H2O AM annonce l'ouverture de son offre de sortie définitive des fonds cantonnés](https://www.h2o-am.com/fr/h2o-am-annonce-louverture-de-son-offre-de-sortie-definitive-des-fonds-cantonnes/) - Londres / Paris, le 15/10/2024 Le 7 août 2024, dans le cadre d’un accord avec la Financial Conduct Authority (FCA), le Groupe H2O AM a annoncé avoir sécurisé un montant de €250 millions pour financer une offre (ci-après l’ « Offre ») proposée à tous les porteurs de fonds cantonnés. Cette Offre présentée par H2O AM LLP, dont - [Offre de rachat des fonds cantonnés](https://www.h2o-am.com/fr/offre-de-rachat-des-fonds-cantonnes/) - 1. Communiqué de presse Date : 07/08/2024 Lieu : Paris / Londres H2O AM LLP et la FCA concluent un accord permettant une sortie définitive des fonds cantonnés pour l’ensemble des porteurs Le Groupe H2O AM propose une offre assurant une sortie accélérée et définitive aux porteurs des fonds cantonnés. Au-delà des €229 millions déjà - [Offer to purchase units in side-pocketed funds](https://www.h2o-am.com/offer-to-purchase-units-in-side-pocketed-funds/) - 1. Press Release Date : 07/08/2024 Location : Paris / London H2O AM LLP and the FCA reach a settlement allowing a definitive exit from side-pocketed funds for all unitholders The H2O AM Group is offering an accelerated and definitive exit for unitholders of the side-pocketed funds. In addition to the €229 million already repaid, - [test](https://www.h2o-am.com/test/) - test https://www.h2o-am.com/wp-content/uploads/2024/11/Podcast_Equities_Audio.wav - [Our CEO's wishes](https://www.h2o-am.com/our-ceo-wishes/) - Dear Investor, Dear Stakeholder, 2023 has just ended with its share of challenges and also its successes and good moments. As we stand at the dawn of the new year, I would like to extend, on behalf of the H2O AM teams, our very best wishes for 2024. I would also like to reflect on the past 12 months with its achievements, of which we can be proud, and a note of necessary caution. - [Side-pocketed funds : H2O AM to carry out further reimbursement in the coming weeks](https://www.h2o-am.com/side-pocketed-funds-h2o-am-to-carry-out-further-reimbursement-in-the-coming-weeks/) - Learn about H2O's upcoming reimbursements for side-pocketed funds. - [Shifting Dynamics - The place of Emerging Markets in the Investment Landscape](https://www.h2o-am.com/shifting-dynamics-the-place-of-emerging-markets-in-the-investment-landscape/) - Read our latest H2O's insights into emerging markets in today's investment landscape. - [The Walker and his Dog - Navigating Market Noise](https://www.h2o-am.com/the-walker-and-his-dog-navigating-market-noise/) - Since the end of 2023, global growth has remained robust while becoming less dependent on the American economy. Europe has finally rebounded, and the recovery in the global manufacturing sector has supported growth in emerging markets, which also benefit from elevated commodity prices. - [H2O AM announces the opening of its offer to exit side-pocketed funds](https://www.h2o-am.com/h2o-am-announces-the-opening-of-its-offer-to-exit-side-pocketed-funds/) - Le 7 août 2024, dans le cadre d’un accord avec la Financial Conduct Authority (FCA), le Groupe H2O AM a annoncé avoir sécurisé un montant de €250 millions pour financer une offre (ci-après l’ « Offre ») proposée à tous les porteurs de fonds cantonnés. - [Fonds cantonnés : H2O AM va procéder à un nouveau remboursement dans les prochaines semaines](https://www.h2o-am.com/fr/fonds-cantonnes-h2o-am-va-proceder-a-un-nouveau-remboursement-dans-les-prochaines-semaines/) - Découvrez les remboursements supplémentaires prévus par H2O pour les fonds en compartiments distincts. - [Valeur significative sur les marchés émergents](https://www.h2o-am.com/significant-value-in-emerging-market/) - Vincent Chailley, directeur des investissements chez H2O Asset Management, a exposé son point de vue sur plusieurs indicateurs économiques et proposé un portefeuille diversifié de positions basées sur des actifs décotés, de bons rendements et un profil de risque amélioré lors d'une interview avec Delano. - [Significant value in emerging market](https://www.h2o-am.com/significant-value-in-emerging-market/) - Explore H2O's analysis of the significant value in emerging markets. - [H2O AM apporte des précisions concernant son offre aux porteurs de fonds cantonnés](https://www.h2o-am.com/fr/h2o-am-apporte-des-precisions-concernant-son-offre-aux-porteurs-de-fonds-cantonnes/) - Londres / Paris, le 19/09/2024 H2O AM est pleinement mobilisé sur la mise en œuvre opérationnelle, et dans les meilleurs délais, de l’offre de rachat des parts des fonds cantonnés (ci-après, l’« Offre »). Néanmoins face aux allégations erronées actuellement relayées, H2O AM se doit, pour une bonne compréhension de l’Offre, de rappeler les points suivants. Aucun - [H2O confirms that it is considering medium term solutions to re-organise its holdings in non-rated corporate bonds](https://www.h2o-am.com/press-release-27-06-2019/) - H2O confirms that it is considering medium term solutions to re-organise its holdings in non-rated corporate bonds, in order to eliminate entirely any liquidity concerns in H2O's UCITS funds. H2O has no plans to transfer these bonds to another investment vehicle. In the meantime, H2O sees value in these bonds and will not dispose of - [H2O Asset Management is pleased to confirm that there have been substantial inflows since Monday 24 June 2019](https://www.h2o-am.com/press-release-26-06-2019/) - H2O Asset Management is pleased to confirm that there have been substantial inflows since Monday 24 June 2019 and current AuM, as of 26th June, stands at €27 bn. Redemptions have markedly subsided to a level roughly five times less than at their peak (on 21 June), down to €450m today. As previously announced, H2O - [H2O AM hereby confirms that the net outflows have slowed significantly since Monday June 24th](https://www.h2o-am.com/press-release-25-06-2019/) - H2O AM hereby confirms that the net outflows have slowed significantly since Monday June 24th. In addition, H2O funds received some material inflows on Tuesday June 25th. - [Internet Notice H2O Vivace - 25/06/2019](https://www.h2o-am.com/en-internet-notice-h2o-vivace-25-06-2019/) - Creation of a new Q* unit class, reserved for employees of H2O AM Group companies: - [Press Release (update) - 24/06/2019](https://www.h2o-am.com/press-release-update-24-06-2019/) - H2O Asset Management hereby confirms that the aggregated value of non-rated corporate bonds represents less than €500m as of Monday 24th of June. - [Q&As on H2O’s exposure to non-rated private placements](https://www.h2o-am.com/qas-on-h2os-exposure-to-non-rated-private-placements-21-06-2019/) - Q&As on H2O’s exposure to non-rated private placements: The case for H2O Adagio, H2O Allegro & H2O MultiBonds. - [Le promeneur et son chien - Composer avec le bruit de marché](https://www.h2o-am.com/fr/le-promeneur-et-son-chien-composer-avec-le-bruit-de-marche/) - Depuis fin 2023, la croissance mondiale est restée robuste tout en devenant moins dépendante de l’économie américaine : l’Europe a enfin rebondi et la reprise du secteur manufacturier mondial a soutenu la croissance des marchés émergents qui bénéficient en outre des prix élevés des matières premières. - [H2O Communication - 08/07/2019](https://www.h2o-am.com/h2o-communication-08-07-2019/) - Chers investisseurs, Ces quinze derniers jours ont été une expérience constructive pour l'équipe de H2O Asset Management. À la suite d'un intérêt médiatique important et, dans de nombreux cas, profondément injuste pour une petite partie de nos actifs (environ 3,7 % de notre actif total à l'époque), nous avons subi des rachats importants qui ont - [Communication sur les frais d'inscription 19/07/2019](https://www.h2o-am.com/communication-on-entry-fees-19-07-2019/) - H2O AM LLP vous informe que : - [DIGITAL EVENT | INVITATION](https://www.h2o-am.com/fr/elementor-10509/) - DIGITAL EVENT | INVITATION Vincent ChailleyGroup CIO Tuesday 25th June8h30 / 9h30(London Time) Register Now >> Tuesday 25th June11h00 / 12h00(Paris Time) S'inscrire >> Monday 24th June15h00 / 16h00(Roma Time) Registrati Ora >> How to join? Please confirm your participation by registering to receive login details - [H2O has sold part of its non-rated private bonds](https://www.h2o-am.com/press-release-24-06-2019/) - H2O has sold part of its non-rated private bonds and, based on a valuation received by international banks, marked down the balance in compliance with UCITS regulation, thereby cutting their aggregate market value below 2% of H2O's AuM. As a result of this - [Interview : Mieux vaut ne pas anticiper une baisse linéaire des taux US](https://www.h2o-am.com/fr/mieux-vaut-ne-pas-anticiper-une-baisse-lineaire-des-taux-us/) - La Fed devra tenir compte d’un risque de résurgence de l’inflation par excès de la consommation. Entretien avec Vincent Chailley de H2O Asset Management. - [Changement de dynamiques - Un retour des marchés émergents au sein des allocations](https://www.h2o-am.com/fr/changement-de-dynamiques-un-retour-des-marches-emergents-au-sein-des-allocations/) - L’environnement économique de l’ère post-Covid arrive à son terme. La forte reflation observée depuis 2020, fruit de l'abondance de liquidités et de la réouverture des économies, s’essouffle. - [So far, so good](https://www.h2o-am.com/so-far-so-good/) - In the past months, growth across regions depicted mixed results with the US outdistancing other economies while EMU stalled, and China revealed worrying signs of slowdown. Core Inflation should continue to decelerate in the wake of lower demand and improved supply chains. - [Opportunités dans le steepening des courbes, aux titres AT1 et aux marchés émergents](https://www.h2o-am.com/fr/opportunites-dans-le-steepening-des-courbes-aux-titres-at1-et-aux-marches-emergents/) - Article uniquement en Anglais et en Italien - [Opportunities in steepening curves, AT1 securities and emerging markets](https://www.h2o-am.com/opportunities-in-steepening-curves-at1-securities-and-emerging-markets/) - H2O expects the Fed to pause between rate cuts to combat inflation fears and predicts a falling dollar in the long term. - [MONDOALTERNATIVE AWARDS 2024: L'ELENCO DEI VINCITORI](https://www.h2o-am.com/fr/mondoalternative-awards-2024-lelenco-dei-vincitori/) - Trente-sept produits alternatifs liquides et quatre hedge funds italiens ont été récompensés par la 20e édition des MondoAlternative Awards pour leurs performances au cours des 12 et 36 derniers mois. - [MONDOALTERNATIVE AWARDS 2024: L'ELENCO DEI VINCITORI](https://www.h2o-am.com/mondoalternative-awards-2024-lelenco-dei-vincitori/) - Thirty-seven liquid alternative products and four Italian hedge funds were honored by the 20th MondoAlternative Awards for their performance over the past 12 and 36 months. - [H2O Communication](https://www.h2o-am.com/h2o-communication-5/) - H2O AM entamera la première phase de remboursement des fonds de Side Pocket dans les prochains jours suite à un remboursement partiel de la FSSSN fin décembre 2022, atteignant le premier seuil d'une réduction de 250 millions d'euros de sa valeur nominale. - [H2O AM appoints head of Apac distribution](https://www.h2o-am.com/h2o-am-appoints-head-of-apac-distribution/) - Victor Kuoch has been hired as sales director and head of Asia Pacific (Apac) distribution. In his new role, Kuoch will be responsible for driving the company’s business development efforts in the region and leading sales activities across the Apac client landscape, according to a statement by the firm. Kuoch joins H2O AM from Natixis - [H2O AM intègre un ex-Natixis IM à la tête de la distribution Asie-Pacifique](https://www.h2o-am.com/fr/h2o-am-integre-un-ex-natixis-im-a-la-tete-de-la-distribution-asie-pacifique/) - H2O Asset Management vient de recruter Victor Kuoch en tant que directeur commercial et responsable de la distribution Asie-Pacifique. L’intéressé vient de Natixis IM, le futur ex-actionnaire de H2O AM. La société de gestion du groupe BPCE a dénoué ses liens avec H2O AM en mars 2022. Victor Kuoch dirigeait jusqu’à présent l’équipe solutions d’investissement multi-assets de la région APAC de Natixis IM à Singapour - [Le piège de la mécanisation des marchés](https://www.h2o-am.com/fr/all-news-le-piege-de-la-mecanisation-des-marches/) - Le pessimisme du marché observé début 2023 s’est ainsi avéré être davantage un piège qu’un avertissement salutaire pour les investisseurs. Au début de l’année 2023, il y a un an, les économistes avertissaient sur l’imminence d’une récession, renforçant ainsi les craintes d’investisseurs déjà inquiets. - [Revue de performance 2023](https://www.h2o-am.com/fr/revue-de-performance-2023/) - Au début de l'année 2023, il y a un an, les économistes avertissaient sur l'imminence d'une récession, renforçant ainsi les craintes d’investisseurs déjà inquiets. Et pour cause, puisque cet avertissement faisait suite à une année difficile (2022), marquée par l'une des pires périodes pour les marchés obligataires en raison de l'escalade de l'inflation et des ajustements des taux directeurs qui avaient suivi. - [H2O has six of the top 10 Global Macro funds of the past year](https://www.h2o-am.com/citywire-selector-h2o-has-six-of-the-top-10-global-macro-funds-of-the-past-year/) - The embattled firm’s funds are leading performance wise in Alternative Ucits – Global Macro. Here's a closer look at the strategies. - [H2O Press Release - 30/09/2021](https://www.h2o-am.com/h2o-press-release-30-09-2021/) - Please find below the latest communication from H2O AM: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/2021.09.30_H2O-AM_Press-Release_Distribution_EN.pdf" title="H2O Press Release 300921"] - [H2O Communication 17.03.2020](https://www.h2o-am.com/h2o-communication-17-03-20/) - Please find below the latest communication from H2O AM. - [H2O Communication - 08/07/2019](https://www.h2o-am.com/h2o-communication-08-07-2019/) - Dear investors, These last fifteen days were a constructive experience for the team at H2O Asset Management. Following significant and, in many cases, deeply-unfair media interest in a small portion of our assets (about 3.7% of our total AuM at the time), we suffered significant redemptions that reached approximately 8 billion euros. We are now - [Communication on entry fees 19/07/2019](https://www.h2o-am.com/communication-on-entry-fees-19-07-2019/) - H2O AM LLP informs you that: - [Temporary suspension of some H2O funds](https://www.h2o-am.com/temporary-suspension-of-h2o-funds/) - Please find below the latest communication from H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/08/Communique-H2O-280820-ENG-1.pdf" title="H2O Communication 280820"] - [H2O Communication - 04/09/2020](https://www.h2o-am.com/h2o-communication-04-09-2020/) - Please find below the latest communication from H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/09/Communique-H2O-040920-EN.pdf" title="H2O Communication 04092020"] - [H2O Communication - 16/09/2020](https://www.h2o-am.com/h2o-communication-16-09-2020/) - Please find below the latest communication from H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/09/Communique-H2O-160920-EN-1.pdf" title="H2O Communication 16092020"] - [H2O Communication - 22/09/2020](https://www.h2o-am.com/h2o-communication-22-09-2020/) - Following the on-going side-pocketing of their “private” instruments, which effectively began this week and should be completed on Thursday, October 8, 2020, the seven mirror-funds (namely H2O Adagio FCP, H2O Moderato FCP, H2O MultiBonds FCP, H2O Allegro FCP, H2O Vivace FCP, H2O MultiStrategies FCP & H2O MultiEquities FCP) whose subscriptions/redemptions were suspended on Friday, August - [Communication H2O - 09/10/2020](https://www.h2o-am.com/communication-h2o-09-10-2020-2/) - Dear clients. The side-pocketing process of your seven Global Macro FCPs is nearing completion. In three business days* the mirror-funds will open for daily subscriptions & redemptions. Totally liquid, they will carry the same ISIN codes as before. Upon conclusion of this process, you will be holding two investment vehicles instead of one: the mirror-fund - [H2O Communication - 16/10/2020](https://www.h2o-am.com/h2o-communication-16-10-2020/) - Please find below the latest communication from H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/Communique-H2O-1610-EN.pdf" title="H2O Communication 16102020"] - [H2O Communication - 06/11/2020](https://www.h2o-am.com/h2o-communication-06-11-2020/) - Please find below the latest communication from H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/11/Communication-H2O-EN-061120.pdf" title="H2O Communication 061120"] - [H2O Communication - 26/02/2021](https://www.h2o-am.com/h2o-communication-26-02-2021/) - Please find below the latest communication from H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/02/Communique-H2O-2602-EN-1.pdf" title="H2O Communication 260221"] - [Personnel & Fund Update - 02/03/2021](https://www.h2o-am.com/personnel-fund-update-02-03-2021/) - Please find below the latest communication from H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/03/H2O-Personnel-Fund-Update-020321-1.pdf" title="H2O Communication 020321"] - [H2O GLOBAL STRATEGIES ICAV – UK Deregistration Notice](https://www.h2o-am.com/h2o-global-strategies-icav-uk-deregistration-notice/) - Please find below the information concerning the UK deregistration - [FCP and Side Pocket Funds – UK Deregistration Notice](https://www.h2o-am.com/fcp-and-side-pocket-funds-uk-deregistration-notice/) - Please find below the information concerning the UK deregistration - [H2O INVEST – Ordinary general meeting](https://www.h2o-am.com/h2o-invest-ordinary-general-meeting/) - Please find below the information concerning the ordinary general meeting - [H2O INVEST – UK Deregistration Notice](https://www.h2o-am.com/h2o-invest-uk-deregistration-notice/) - Please find below the information concerning the UK deregistration - [Internet notice - Change to regulatory documentation](https://www.h2o-am.com/internet-notice-change-to-regulatory-documentation/) - We wish to inform unitholders and shareholders of the UCITS listed below that, as of 1 January 2023, the regulatory documentation of these UCITS will be changed as follows - [Communication H2O - 25/05/21](https://www.h2o-am.com/communication-h2o-25-05-21/) - Veuillez trouver ci-dessous la communication d'H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/05/Communication-H2O-25-mai-2021-FR-1.pdf" title="Communication H2O 250521"] - [H2O Communication - 25/05/2021](https://www.h2o-am.com/h2o-communication-25-05-2021/) - Please find below the latest communication from H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/05/H2O-Communication-25-May-2021-EN.pdf" title="H2O Communication 250521"] - [Communiqué de presse (mise à jour) - 24/06/2019](https://www.h2o-am.com/press-release-update-24-06-2019/) - H2O Asset Management confirme par la présente que la valeur agrégée des obligations d'entreprises non notées représente moins de 500 millions d'euros en date du lundi24 juin. - [Communiqué de presse - 25/06/2019](https://www.h2o-am.com/press-release-25-06-2019/) - H2O AM confirme par la présente que les sorties nettes ont ralenti de manière significative depuis le lundi 24 juin. Par ailleurs, les fonds H2O ont reçu des entrées importantes le mardi 25 juin. - [Communiqué de presse - 26/06/2019](https://www.h2o-am.com/press-release-26-06-2019/) - H2O Asset Management a le plaisir de confirmer qu'il y a eu des entrées substantielles depuis le lundi 24 juin 2019 et que les AuM actuels, au 26 juin, s'élèvent à 27 milliards d'euros. Les rachats ont nettement diminué pour atteindre un niveau environ cinq fois inférieur à celui du pic (le 21 juin), soit - [Communiqué de presse - 27/06/2019](https://www.h2o-am.com/press-release-27-06-2019/) - H2O confirme qu'elle envisage des solutions à moyen terme pour réorganiser ses avoirs en obligations d'entreprises non notées, afin d'éliminer totalement tout problème de liquidité dans les fonds OPCVM de H2O. H2O n'a pas l'intention de transférer ces obligations vers un autre véhicule d'investissement. Dans l'intervalle, H2O estime que ces obligations ont de la valeur - [Communiqué de presse - 24/06/2019](https://www.h2o-am.com/press-release-24-06-2019/) - H2O a vendu une partie de ses obligations privées non notées et, sur la base d'une évaluation reçue par des banques internationales, a déprécié le solde conformément à la réglementation OPCVM, réduisant ainsi leur valeur de marché globale en dessous de 2 % des actifs de H2O. En raison de cette réduction, déclenchée par les - [FR: Avis internet - H2O Invest - 09/10/2020](https://www.h2o-am.com/fr/fr-avis-internet-h2o-invest-09-10-2020/) - Veuillez trouver ci-dessous les avis internet concernant l'Assemblée Générale Ordinaire de la SICAV H2O Invest: Belgique (FR): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_FR_BELGIUM.pdf" title="News-09-10-2020-H2O INVEST -AGM-29.10.2020-ODJ Form_FR_BELGIUM"] Belgique (NL): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_NL_BELGIUM.pdf" title="News-09-10-2020-H2O INVEST -AGM-29.10.2020-ODJ Form_NL_BELGIUM"] Allemagne (DE): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_DE_GERMANY.pdf" title="News-09-10-2020-H2O INVEST -AGM-29.10.2020-ODJ Form_DE_GERMANY"] Espagne (ES): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_ES_SPAIN.pdf" title="News-09-10-2020-H2O INVEST -AGM-29.10.2020-ODJ Form_ES_SPAIN"] Italie (IT): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_IT_ITALY.pdf" - [FR: Avis Internet du 10 mars 2021](https://www.h2o-am.com/fr/fr-avis-internet-du-10-mars-2021/) - Veuillez trouver ci-dessous l'avis internet du 3 mars 2021, concernant notamment le règlement SFDR: France: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/03/Avis-internet-SFDR-Article-6-10-mars-2021_FR_FR.pdf" title="Avis internet SFDR - Article 6 - 10 mars 2021_FR_FR"] Belgique: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/03/Avis-internet-SFDR-Article-6-10-mars-2021_FR_BE_Clean.pdf" title="Avis internet SFDR - Article 6 - 10 mars 2021_FR_BE_Clean"] Luxembourg: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/03/Avis-internet-SFDR-Article-6-10-mars-2021_EN_LU-Clean-1.pdf" title="Avis internet SFDR - Article 6 - 10 mars - [FR: Avis Internet du 15 avril 2021](https://www.h2o-am.com/fr/fr-avis-internet-du-15-avril-2021/) - Veuillez trouver ci-dessous l’avis internet du 15 avril 2021, concernant la mise en place de nouvelles sous délégations de gestion : France : [pdf-embedder url=”https://www.h2o-am.com/wp-content/uploads/2021/04/Avis-Delegation-Monaco-19-Avril-2021-FR-FR.pdf” title=”Avis Délégation Monaco 19 Avril 2021 FR FR”] Belgique : [pdf-embedder url=”https://www.h2o-am.com/wp-content/uploads/2021/04/Avis-Delegation-Monaco-19-Avril-2021_BE-FR-Clean.pdf” title=”Avis Délégation Monaco 19 Avril 2021_BE FR – Clean”] Suisse : [pdf-embedder url=”https://www.h2o-am.com/wp-content/uploads/2021/04/Avis-Delegation-Monaco-19-Avril-2021_CH-FR-Clean.pdf” title=”Avis Délégation - [FR: Avis Internet du 27 août](https://www.h2o-am.com/fr/fr-avis-internet-du-27-aout/) - Veuillez trouver ci-dessous l'avis internet en date de vigueur du 1er septembre 2021 concernant les fonds: H2O ADAGIO FCP H2O MODERATO FCP H2O ALLEGRO FCP H2O MULTIBONDS FCP H2O MULTISTRATEGIES FCP H2O VIVACE FCP H2O EUROSOVEREIGN, compartiment de la SICAV H2O INVEST H2O EUROSOVEREIGN 3-5 year, compartiment de la SICAV H2O INVEST H2O LARGO, compartiment - [H2O Press Release - 30/09/2021](https://www.h2o-am.com/fr/h2o-press-release-30-09-2021-2/) - Veuillez trouver ci-dessous la dernière communication d'H2O AM : [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/2021.09.30_H2O-AM_Press-Release_Distribution_FR.pdf" title="H2O Press Release 300921"] - [Communiqué de presse - AMF, l’AFG, l’ASPIM, France Invest, l’Anacofi, la Cie CIF, la CNCGP et la CNCIF](https://www.h2o-am.com/fr/communique-de-presse-amf-lafg-laspim-france-invest-lanacofi-la-cie-cif-la-cncgp-et-la-cncif/) - L’AMF, l’AFG, l’ASPIM, France Invest, l’Anacofi, la Cie CIF, la CNCGP et la CNCIF mettent en garde le public contre la recrudescence des usurpations de noms d’acteurs autorisés L’Autorité des marchés financiers et les associations de professionnels du secteur de la gestion d’actifs et de patrimoine lancent un appel commun à la plus grande vigilance - [Personnel & Fund Update - 02/03/2021](https://www.h2o-am.com/fr/personnel-fund-update-02-03-2021-2/) - Veuillez trouver ci-dessous la communication d'H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/03/H2O-Personnel-Fund-Update-020321-1.pdf" title="H2O Communication 020321"] - [Communication H2O - 26/02/2021](https://www.h2o-am.com/fr/communication-h2o-26-02-2021/) - Veuillez trouver ci-dessous la communication d'H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/02/Communique-H2O-2602-FR.pdf" title="Communication H2O 260221"] - [Communication H2O - 06/11/2020](https://www.h2o-am.com/fr/communication-h2o-06-11-2020/) - Veuillez trouver ci-dessous la communication d'H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/11/Communication-H2O-FR-061120.pdf" title="H2O Communication 061120"] - [Communication H2O - 16/10/2020](https://www.h2o-am.com/fr/communication-h2o-16-10-2020/) - Veuillez trouver ci-dessous la communication d'H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/Communique-H2O-1610-FR.pdf" title="H2O Communication 16102020"] - [Communication H2O - 09/10/2020](https://www.h2o-am.com/fr/communication-h2o-09-10-2020/) - Chers investisseurs, L’opération de cantonnement de vos sept fonds suspendus touche à sa fin. Dans trois jours ouvrés*, les fonds-miroirs seront ouverts aux souscriptions et aux rachats quotidiens. Ces fonds seront totalement liquides et disposeront des mêmes codes ISIN que précédemment. Au terme de cette scission, au lieu d’avoir un seul support d’investissement, vous en - [Communication H2O - 22/09/2020](https://www.h2o-am.com/fr/communication-h2o-22-09-2020/) - Suite au cantonnement des instruments «privés», qui a effectivement débuté cette semaine et devrait s’achever le jeudi 8 octobre 2020, les sept fonds-miroirs (à savoir H2O Adagio FCP, H2O Moderato FCP, H2O MultiBonds FCP, H2O Allegro FCP, H2O Vivace FCP, H2O MultiStrategies FCP & H2O MultiEquities FCP) dont les souscriptions/rachats ont été suspendus le vendredi - [Communication H2O - 16/09/2020](https://www.h2o-am.com/fr/communication-h2o-16-09-2020/) - Veuillez trouver ci-dessous la communication d'H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/09/Communique-H2O-160920-FR-1.pdf" title="H2O Communication 16092020"] - [Communication H2O - 04/09/2020](https://www.h2o-am.com/fr/communication-h2o-04-09-2020/) - Veuillez trouver ci-dessous la communication d'H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/09/Communique-H2O-040920-FR.pdf" title="H2O Communication 04092020"] - [Suspension temporaire de certains fonds H2O](https://www.h2o-am.com/fr/suspension-temporaire-de-fonds-h2o/) - Veuillez trouver ci-dessous la communication d'H2O AM. [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/08/Communique-H2O-280820-FRF-1.pdf" title="H2O Communication 280820"] - [FR: Avis Internet H2O Invest - 25/10/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-invest-25-10-2019/) - Changement de la société de gestion de la SICAV H2O Invest géré par H2O AM LLP et mise en mise en place de nouvelles délégations de gestion: - [FR: Avis internet H2O Allegretto - 31/07/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-allegretto-31-07-2019-2/) - Augmentation du niveau de l’effet de levier indicatif moyen de l’OPCVM - [FR: Avis internet H2O Allegretto - 31/07/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-allegretto-31-07-2019/) - Augmentation du niveau de l’effet de levier indicatif moyen de l’OPCVM - [FR: Avis internet H2O Invest - 31/07/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-invest-31-07-2019/) - Modifications du compartiment H2O Largo du compartiment H2O ADAGIO FEEDER - [FR: Avis internet H2O Vivace - 25/06/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-vivace-25-06-2019/) - Création d’une nouvelle part de classe Q - Réservée aux collaborateurs des sociétés du groupe H2O AM - [Questions/Réponses sur les placements privés non-notés - 21/06/2019](https://www.h2o-am.com/fr/questions-reponses-sur-les-placements-prives-non-notes-21-06-2019/) - Questions/Réponses sur les placements privés non-notés. Le cas des fonds H2O Adagio, H2O Allegro & H2O MultiBonds Veuillez trouver la note ci-dessous : [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/06/News-21-06-2019-Note-NR-bonds-200619-FR-v-finale.pdf" title="News - 21 06 2019 - Note NR bonds 200619 FR v finale"] - [FR: Avis internet H2O EuroAggregate - 25/09/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-euroaggregate-25-09-2019/) - Avis internet concernant l'augmentation du niveau de l'effet de levier indicatif moyen de l'OPCVM - [FR: Avis internet H2O EuroAggregate - 25/09/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-euroaggregate-25-09-2019-2/) - Avis internet concernant l'augmentation du niveau de l'effet de levier indicatif moyen de l'OPCVM - [FR: Avis internet H2O Europea - 03 09 2020](https://www.h2o-am.com/fr/fr-avis-internet-h2o-europea-03-09-2020/) - Veuillez trouver l'avis ci-dessous: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/09/News-03-09-2020-Avis-internet-Europea-03-09-2020.pdf" title="News - 03 09 2020 - Avis internet Europea 03 09 2020"] - [Information importante concernant H2O EuroPEA, compartiment de la SICAV H2O Invest : Maintien de l’éligibilité au PEA](https://www.h2o-am.com/fr/information-importante-concernant-h2o-europea-compartiment-de-la-sicav-h2o-invest-maintien-de-leligibilite-au-pea/) - Suite à la sortie du Royaume-Uni de l’Union Européenne (« Brexit ») et en application de l’arrêté du 22 décembre 2020 portant fixation de la période d’adaptation mentionnée à l’article 3 de l’ordonnance no 2020-1595 du 16 décembre 2020 tirant les conséquences du retrait du Royaume-Uni de l’Union européenne en matière d’assurances, de placements collectifs et de - [FR: Avis Internet du 27 septembre](https://www.h2o-am.com/fr/fr-avis-internet-du-27-septembre/) - Veuillez trouver ci-dessous l'avis internet en date de vigueur du 1er octobre 2021 concernant les fonds: • H2OADAGIO FCP • H2O MODERATO FCP • H2O MULTIEQUITIES FCP France: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/Avis-internet-01-Octobre-2021-Adagio-Moderato-Multiequites-FR.pdf" title="Avis internet 1 er octobre"] Belgique: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/Avis-internet-01-Octobre-2021-Adagio-Moderato-Multiequites-FR-BE-Clean.pdf" title="Avis internet 1 er octobre"] Suisse: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/Avis-internet-01-Octobre-2021-Adagio-Moderato-Multiequites-FR-CH-Clean.pdf" title="Avis internet 1 er octobre"] - [FR: Avis internet H2O MultiStrategies - 31/07/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-multistrategies-31-07-2019/) - Avis internet en date du 31 juillet 2019 - FCP H2O MultiStrategies: - Augmentation du niveau de l'effet de levier indicatif moyen - Augmentation de la volatilité ex post - Modification de la commission de souscription - [FR: Avis internet H2O MultiStrategies - 04/10/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-multistrategies-04-10-2019/) - Utilisation des options sur indice échangées sur les marchés de gré à gré - [FR: Internet Notice H2O Adagio - 31/07/2019](https://www.h2o-am.com/fr/fr-internet-notice-h2o-adagio-31-07-2019/) - Avis internet en date du 31 juillet 2019 – FCP H2O ADAGIO - Augmentation du niveau de l’effet de levier indicatif moyen - Modification de l’objectif de gestion de la part M - Création d’une nouvelle part Institutionnelle, couverte en Livres Sterling - Création d’une nouvelle classe de part Q-EUR – Réservée aux collaborateurs des sociétés du groupe H2O AM. - [FR: Avis internet H2O Moderato – 31/07/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-moderato-31-07-2019/) - Augmentation du niveau de l’effet de levier indicatif moyen de l’OPCVM - [FR: Avis internet H2O MultiStrategies - 04/10/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-multistrategies-04-10-2019-2/) - Utilisation des options sur indice échangées sur les marchés de gré à gré - [FR: Internet Notice H2O Adagio - 31/07/2019](https://www.h2o-am.com/fr/fr-internet-notice-h2o-adagio-31-07-2019-2/) - Avis internet en date du 31 juillet 2019 – FCP H2O ADAGIO - Augmentation du niveau de l’effet de levier indicatif moyen - Modification de l’objectif de gestion de la part M - Création d’une nouvelle part Institutionnelle, couverte en Livres Sterling - Création d’une nouvelle classe de part Q-EUR – Réservée aux collaborateurs des sociétés du groupe H2O AM. - [FR: Avis internet H2O Invest - 31/07/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-invest-31-07-2019-2/) - Modifications du compartiment H2O Largo du compartiment H2O ADAGIO FEEDER - [FR: Avis internet H2O Moderato – 31/07/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-moderato-31-07-2019-2/) - Augmentation du niveau de l’effet de levier indicatif moyen de l’OPCVM - [FR: Avis internet H2O MultiStrategies - 31/07/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-multistrategies-31-07-2019-2/) - Avis internet en date du 31 juillet 2019 - FCP H2O MultiStrategies: - Augmentation du niveau de l'effet de levier indicatif moyen - Augmentation de la volatilité ex post - Modification de la commission de souscription - [FR: Avis Internet H2O Invest - 02/03/2020](https://www.h2o-am.com/fr/fr-avis-internet-h2o-invest-02-03-2020/) - Modification sur les compartiments H2O Largo, H2O EuroSovereign et H2O EuroSovereign 3-5 Years de la SICAV H2O INVEST - [FR: Avis Internet H2O Invest - 02/03/2020](https://www.h2o-am.com/fr/fr-avis-internet-h2o-invest-02-03-2020-2/) - Modification sur les compartiments H2O Largo, H2O EuroSovereign et H2O EuroSovereign 3-5 Years de la SICAV H2O INVEST - [FR: Avis Internet H2O Invest - 25/10/2019](https://www.h2o-am.com/fr/fr-avis-internet-h2o-invest-25-10-2019-2/) - Changement de la société de gestion de la SICAV H2O Invest géré par H2O AM LLP et mise en mise en place de nouvelles délégations de gestion: - [FR: Avis internet H2O Europea - 03 09 2020](https://www.h2o-am.com/fr/fr-avis-internet-h2o-europea-03-09-2020-2/) - Veuillez trouver l'avis ci-dessous: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/09/News-03-09-2020-Avis-internet-Europea-03-09-2020.pdf" title="News - 03 09 2020 - Avis internet Europea 03 09 2020"] - [EN: Internet Notice dated 10 March 2021](https://www.h2o-am.com/en-internet-notice-dated-10-march-2021/) - Please find below the internet notice dated 10 March 2021, regarding in part the SFDR regulation: France: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/03/Avis-internet-SFDR-Article-6-10-mars-2021_FR_FR.pdf" title="Avis internet SFDR - Article 6 - 10 mars 2021_FR_FR"] Belgium: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/03/Avis-internet-SFDR-Article-6-10-mars-2021_FR_BE_Clean.pdf" title="Avis internet SFDR - Article 6 - 10 mars 2021_FR_BE_Clean"] Luxembourg: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/03/Avis-internet-SFDR-Article-6-10-mars-2021_EN_LU-Clean-1.pdf" title="Avis internet SFDR - Article 6 - 10 - [EN: Internet Notice dated 15 April 2021](https://www.h2o-am.com/en-internet-notice-dated-15-april-2021/) - Please find below the internet notice dated 15 April 2021, regarding the implementation of new management sub-delegations:Germany:[pdf-embedder url=”https://www.h2o-am.com/wp-content/uploads/2021/04/Avis-Delegation-Monaco-19-Avril-2021v_DE-EN-Clean.pdf” title=”Avis Délégation Monaco 19 Avril 2021v_DE EN – Clean”]Spain:[pdf-embedder url=”https://www.h2o-am.com/wp-content/uploads/2021/04/Avis-Delegation-Monaco-19-Avril-2021v_ES_ES-Clean.pdf” title=”Avis Délégation Monaco 19 Avril 2021v_ES_ES – Clean”]Ireland:[pdf-embedder url=”https://www.h2o-am.com/wp-content/uploads/2021/04/Avis-Delegation-Monaco-19-Avril-2021v_IE-EN-Clean.pdf” title=”Avis Délégation Monaco 19 Avril 2021v_IE EN – Clean”]Italy:[pdf-embedder url=”https://www.h2o-am.com/wp-content/uploads/2021/04/Avis-Delegation-Monaco-19-Avril-2021v_IT_IT-Clean.pdf” title=”Avis Délégation Monaco 19 Avril 2021v_IT_IT – Clean”]Luxembourg:[pdf-embedder - [EN: Internet notice 27/08/2021](https://www.h2o-am.com/en-internet-notice-27-08-2021/) - Please find below the internet notice as from September 1, 2021 on the below funds: H2O ADAGIO FCP H2O MODERATO FCP H2O ALLEGRO FCP H2O MULTIBONDS FCP H2O MULTISTRATEGIES FCP H2O VIVACE FCP H2O EUROSOVEREIGN (H2O INVEST SICAV) H2O EUROSOVEREIGN 3-5 year (H2O INVEST SICAV) H2O LARGO (H2O INVEST SICAV) Austria: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/Avis-Paris-gestionnaire-financier-01-Septembre-2021-FR-FR-FCP-et-SICAV_EN-AT-Clean.pdf" title="Avis-Paris - [EN: Internet notice 27/09/2021](https://www.h2o-am.com/en-internet-notice-27-09-2021/) - Please find below the internet notice as from October 1, 2021 on the below funds: H2O ADAGIO FCP H2O MODERATO FCP H2O MULTIEQUITIES FCP Austria: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/Avis-internet-01-Octobre-2021-Adagio-Moderato-MultiEquites-ENG-AT-Clean.pdf" title="Internet notice 1st October"] Germany: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/Avis-internet-01-Octobre-2021-Adagio-Moderato-MultiEquites-ENG-DE-Clean.pdf" title="Internet notice 1st October"] Ireland: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/Avis-internet-01-Octobre-2021-Adagio-Moderato-MultiEquites-ENG-IE-Clean.pdf" title="Internet notice 1st October"] Luxembourg: [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2021/09/Avis-internet-01-Octobre-2021-Adagio-Moderato-MultiEquites-ENG-LU-Clean.pdf" title="Internet notice 1st - [EN: Internet Notice H2O Invest - 09/10/2020](https://www.h2o-am.com/en-internet-notice-h2o-invest-09-10-2020/) - Please find below the notices related to the upcoming Ordinary General Meeting of the H2O Invest SICAV: Belgium Document (FR): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_FR_BELGIUM.pdf" title="News-09-10-2020-H2O INVEST -AGM-29.10.2020-ODJ Form_FR_BELGIUM"] Belgium Document (NL): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_NL_BELGIUM.pdf" title="News-09-10-2020-H2O INVEST -AGM-29.10.2020-ODJ Form_NL_BELGIUM"] German Document (DE): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_DE_GERMANY.pdf" title="News-09-10-2020-H2O INVEST -AGM-29.10.2020-ODJ Form_DE_GERMANY"] Spanish Document (ES): [pdf-embedder url="https://www.h2o-am.com/wp-content/uploads/2020/10/News-09-10-2020-H2O-INVEST-AGM-29.10.2020-ODJ-Form_ES_SPAIN.pdf" title="News-09-10-2020-H2O INVEST - [EN: Internet Notice H2O Invest - 25/10/2019](https://www.h2o-am.com/uk-internet-notice-h2o-invest-25-10-2019/) - H2O AM LLP is informing shareholders of the H2O Invest SICAV that, from 31 October 2019, all sub-funds of the H2O Invest SICAV are changing their management company and will be managed by H2O AM EUROPE, a subsidiary of H2O AM LLP. - [EN: Internet Notice H2O EuroAggregate - 25/09/2019](https://www.h2o-am.com/en-internet-notice-h2o-euroaggregate-25-09-2019-2/) - Internet notice on the evolution of H2O Aggregate's average leverage level - [EN: Internet Notice H2O MultiStrategies - 31/07/2019](https://www.h2o-am.com/en-internet-notice-h2o-multistrategies-31-07-2019/) - Internet notice for H2O MultiStrategies on change in average level of leverage, ex-post volatility and entry fees. - [EN: Internet notice H2O MultiStrategies - 04/10/2019](https://www.h2o-am.com/en-internet-notice-h2o-multistrategies-04-10-2019/) - Use of index options traded on over-the-counter markets - [EN: Internet Notice H2O Adagio - 31/07/2019](https://www.h2o-am.com/en-internet-notice-h2o-adagio-31-07-2019/) - Internet notice – 31 July 2019 – H2O ADAGIO French mutual fund - Increase of the indicative average leverage level - Change to the management objective of the M* unit - Creation of a new institutional unit*, hedged in pounds sterling - Creation of a new Q-EUR* unit class, reserved for employees of H2O AM Group companies - [EN: Internet Notice H2O Moderato – 31/07/2019](https://www.h2o-am.com/en-internet-notice-h2o-moderato-31-07-2019/) - Increase of the Fund’s indicative average leverage level - [EN: Internet Notice H2O Invest - 31/07/2019](https://www.h2o-am.com/en-internet-notice-h2o-invest-31-07-2019/) - Changes to the H2O Largo and the H2O ADAGIO FEEDER Sub-funds: - [EN: Internet Notice H2O Invest - 02/03/2020](https://www.h2o-am.com/uk-internet-notice-h2o-invest-02-03-2020/) - Changes to the H2O LARGO Sub-fund of the H2O INVEST SICAV under French laws - [EN: Internet notice H2O Invest - 11/10/2019](https://www.h2o-am.com/h2o-invest-internet-notice-dated-11-10-2019/) - ORDINARY GENERAL MEETING OF 28 OCTOBER 2019 AGENDA • Reading of the Chairman and Statutory Auditor’s reports on the financial statements for the financial year ended 28 June 2019; • Reading of the Statutory Auditor’s special report on the agreements referred to in Article L. 227-10 of the French Commercial Code; • Review and approval of the annual financial statements, discharge of the Chairman; • Allocation of distributable income; • Powers for the completion of formalities. - [Finalisation de l'accord relatif au dénouement du partenariat avec Natixis Investment Managers](https://www.h2o-am.com/h2o-press-release/) - Natixis Investment Managers et H2O Asset Management finalisent leur accord sur le dénouement de leur partenariat. - [Mise à jour d'avis aux porteurs et aux actionnaires](https://www.h2o-am.com/h2o-communication-9/) - L'impact de la crise russe sur les portefeuilles de H2O AM - [Création d'un pôle Communication & Marketing et nomination d'un nouveau porte parole de la gestion](https://www.h2o-am.com/h2o-press-release-2/) - Après la nomination de Babak Abrar en tant que Chief Sales and Marketing Officer en août dernier et la création d’un département dédié aux relations investisseurs, H2O Asset Management réaffirme sa détermination à faire évoluer son organisation afin de mieux répondre aux besoins et attentes de ses clients et partenaires. - [Nomination et ouverture d'un nouveau bureau en Suisse](https://www.h2o-am.com/h2o-press-release-4/) - H2O AM accélère son développement avec la nomination d'un Chief Sales and Marketing Officer, membre du Global Executive Committee, et ouvre un nouveau bureau en Suisse. - [Information sur les sides pockets](https://www.h2o-am.com/h2o-press-release-3/) - Nous vous avions informé début octobre dernier de la suspension des valeurs estimatives des fonds cantonnés dits « SP » - [Rapport Annuel et Etats Financiers Audités au 31/05/2023 – H2O LUX INVEST](https://www.h2o-am.com/fr/rapport-annuel-et-etats-financiers-audites-au-31-05-2023-h2o-lux-invest/) - Veuillez trouver ci-dessous le rapport annuel et les états financiers audités des fonds H2O Lux Invest en date du 31/05/2023: - [H2O AM tient à réitérer sa politique de ne pas participer à des spéculations médiatiques](https://www.h2o-am.com/fr/h2o-am-tient-a-reiterer-sa-politique-de-ne-pas-participer-a-des-speculations-mediatiques/) - H2O AM tient à réitérer sa politique de ne pas participer à des spéculations médiatiques et de défendre ses intérêts dans les forums appropriés. Néanmoins, la récente série d'articles appelle une clarification nécessaire. - [Euro Stars](https://www.h2o-am.com/citywire-euro-stars/) - It’s here! Take your first look at Euro Stars 2023. Citywire reveals the 250 portfolio managers who stand out for their risk-adjusted outperformance. - [H2O has six of the top 10 Global Macro](https://www.h2o-am.com/h2o-has-six-of-the-top-10-global-macro/) - The embattled firm’s funds are leading performance wise in Alternative Ucits – Global Macro. Here's a closer look at the strategies. - [H2O AM will start the reimbursement phase of the side-pocketed funds](https://www.h2o-am.com/h2o-communication-5/) - In the next few days, H2O AM will star the reimbursment phase following a partial reimbursement of the FSSSN end of december 2022, reaching the first threshold of a €250 million reduction in its nominal value - [Side-pocket information](https://www.h2o-am.com/h2o-communication-en-16-10-2023/) - As of September 2023, the estimated valuations of the side-pocketed funds (« SP ») have been revised downwards. - [H2O’s Macro Insights - Emerging Markets Strike Back](https://www.h2o-am.com/h2os-macro-insights/) - The on-going growth cycle is strong, synchronised and well-balanced across all regions supportive for global trade and commodities; - [Les perspectives macroéconomiques de H2O](https://www.h2o-am.com/h2os-macro-insights/) - Les marchés émergents contre-attaquent - [Side-pocket information](https://www.h2o-am.com/h2o-communication/) - In March, we informed you of the suspension of estimated valuations for the segregated (“SP”) funds. The latest estimated valuations were published on 28 February 2023. - [Avis aux investisseurs](https://www.h2o-am.com/fr/le-temps-avis-aux-investisseurs/) - Avis aux investisseurs: 2023 devait être l’année des obligations, ce sera celle des devisesLe grand retour de l’obligataire prévu par les économistes après une décennie de taux négatif devra attendre, inflation oblige. Pour l’heure, place aux monnaies émergentes La semaine dernière, les marchés obligataires ont perdu tout le terrain gagné depuis le début de l’année. - [Trois nominations chez H2O](https://www.h2o-am.com/fr/profession-cgp-trois-nominations-chez-h2o/) - H2O Asset Management vient de faire évoluer son organisation : Stéphane Gaillard et Victoire Rougnon ont été promus, tandis que Gonzague Real del Sarte vient d’être recruté. - [Sous les projecteurs : les meilleurs gérants Global Macro sur trois ans](https://www.h2o-am.com/fr/citywire-france-sous-les-projecteurs-les-meilleurs-gerants-global-macro-sur-trois-ans/) - Citywire France a décidé de mettre en lumière les meilleurs gérants Global Macro sur trois ans. Du 30 juin 2020 au 30 juin 2023, le rendement moyen était de 8,8%, pour un total de 43 gérants répartis sur 44 fonds. Article complet disponible ici - [Devises émergents: Les planetes restent alignées](https://www.h2o-am.com/fr/investir-ch-devises-emergents-les-planetes-restent-alignees/) - En 2022, la croissance des économies émergentes a fait preuve de résilience malgré de forts vents contraires: i) la guerre Russie-Ukraine; ii) le ralentissement chinois lié aux restrictions Covid; iii) le resserrement des taux directeurs pour lutter contre les pressions inflationnistes. - [Le nouveau casse-tête des banques centrales](https://www.h2o-am.com/fr/allnews-le-nouveau-casse-tete-des-banques-centrales/) - Le stress bancaire du mois de mars fut un bon test pour l'économie mondiale: il a prouvé l'absence de canaux de contagion viables qui auraient pu accélérer le ralentissement auquel sont confrontées... - [La BOJ a-t-elle le temps d'attendre?](https://www.h2o-am.com/fr/investir-ch-la-boj-a-t-elle-le-temps-dattendre/) - Depuis le 21 octobre, la devise japonaise s’est appréciée fortement face au billet vert. La raison initiale de ce revirement se trouvait dans la révision des anticipations du marché avec des hausses de taux de la Fed moins conséquentes, combinée aux récentes indications d'assouplissement des restrictions sanitaires chinoises. - [H2O possède six des dix meilleurs fonds Global Macro depuis le début de l'année](https://www.h2o-am.com/fr/citywire-france-h2o-possede-six-des-dix-meilleurs-fonds-global-macro-depuis-le-debut-de-lannee/) - H2O possède six des dix meilleurs fonds Global Macro depuis le début de l'année. Ces bonnes performances attisent l’intérêt des investisseurs, mais ces derniers se heurtent à un mur, notamment lorsqu'il s'agit d'investir via l'assurance-vie. - [L’inflation «pot de colle»: Je t’aime, moi non plus!](https://www.h2o-am.com/fr/investir-ch-linflation-pot-de-colle-je-taime-moi-non-plus/) - Initié par la politique des banques centrales, un scenario de ralentissement progressif de l’économie mondiale semble se dessiner, couplé à une légère récession américaine fin 2023 ou au tournant de l’année 2024. - [Awards 2023 : les nommés de la catégorie Obligations - Euro](https://www.h2o-am.com/fr/citywire-france-awards-2023-les-nommes-de-la-categorie-obligations-euro/) - Retrouvez les cinq gérants de fonds et cinq groupes de gestion d’actifs nommés aux Citywire France Awards 2023 dans la catégorie Obligations - Euro. - [Le portefeuille idéal depuis le début de l'année](https://www.h2o-am.com/fr/h24-finance-le-portefeuille-ideal-depuis-le-debut-de-lannee/) - Le portefeuille idéal depuis le début de l'année… - [Le porte-feuille idéal pour bien commencer l'année](https://www.h2o-am.com/fr/h24-finance-le-porte-feuille-ideal-pour-bien-commencer-lannee/) - Le porte-feuille idéal pour bien commencer l'année - [Grand Prix de la Finance](https://www.h2o-am.com/fr/h24-finance-grand-prix-de-la-finance/) - Grand Prix de la Finance 2023 : les fonds de Gestion Alternative et Performance Absolue à choisir pour les prochains mois… - [Les confidences de Bruno Crastes](https://www.h2o-am.com/fr/h24-finance-les-confidences-de-bruno-crastes/) - Bruno Crastes commence par un constat : les commentateurs de marché ne cessent de changer d’avis, il y a 3 mois, on allait « vers la fin du monde » mais depuis le début de l’année, tout a changé, l’ambiance est désormais euphorique : nous allons éviter la récession et l’inflation va baisser. Mais selon le fondateur d’H2O AM... - [Les 5 fonds de Gestion Alternative dont vos clients ont entendu parler cette semaine…](https://www.h2o-am.com/fr/h24-les-5-fonds-de-gestion-alternative-dont-vos-clients-ont-entendu-parler-cette-semaine/) - Quels fonds de Gestion Alternative choisir pour votre épargne ? - [Le top collecte des fonds sur la plateforme Alpheys](https://www.h2o-am.com/fr/h24-finance-le-top-collecte-des-fonds-sur-la-plateforme-alpheys/) - Retrouvez les 10 OPCVM ayant réalisé la meilleure collecte sur le mois de juin chez ALPHEYS Article complet disponible ici - [H2O AM - Finding alternatives to US assets in the current macro landscape - Part 2](https://www.h2o-am.com/fr/h2o-am-finding-alternatives-to-us-assets-in-the-current-macro-landscape-part-2/) - En anglais uniquement - [ H2O AM - Higher risks in the US system - Part 1](https://www.h2o-am.com/fr/h2o-am-higher-risks-in-the-us-system-part-1/) - En anglais uniquement - [Commentaires sur les comptes 2022 de la Holding](https://www.h2o-am.com/fr/commentaires-sur-les-comptes-2022-de-la-holding/) - Quelques articles créent de la confusion et induisent potentiellement leurs lecteurs en erreur. Cela nécessite une mise au point du Groupe H2O. Lorsqu'il s'agit de commenter des comptes, il est indispensable de souligner l’année en question (2022 dans notre cas), de nommer précisément l'entité auditée et de ne pas volontairement (ou non) la confondre avec d’autres du même Groupe : la société en question dans ces articles n'est ni H2O Asset Management, ni H2O, mais H2O AM Holding SA, notre holding basée au Luxembourg, il s’agit de la mère de nos Sociétés de Gestion opérationnelles et réglementées. - [H2O AM Group's new gouvernance](https://www.h2o-am.com/h2o-press-release-3/) - As previously announced, H2O AM Group worked with a leading international consultant firm in order to improve its global organisation and strengthen its overall governance & control framework in line with the best industry standards.Also, H2O AM continues its development and its internationalization strategy. - [H2O AM - Communication following the hearing on Friday 25 November 2022 of the Enforcement Committee of the Autorité des Marchés Financiers](https://www.h2o-am.com/h2o-communication-6/) - The public hearing of the Autorité des Marchés Financiers’ (AMF) Enforcement Committee (EC) was held on Friday, 25 November 2022. Its decision is expected in the coming weeks. H2O AM therefore wishes to provide the following clarifications. - [H2O AM challenge the decision of the Autorité des Marchés Financiers (AMF) Enforcement Committee](https://www.h2o-am.com/h2o-communication-4/) - The company will lodge an appeal with the Conseil d'Etat and adapts its gourvernance - [H2O LUX INVEST – Annual Report and audited financial statements](https://www.h2o-am.com/h2o-lux-invest-annual-report-and-audited-financial-statements/) - H2O LUX INVEST – Annual Report and audited financial statements as at 31/05/2023 - [Emerging Market Currencies: Still a good investment](https://www.h2o-am.com/emerging-market-currencies-still-a-good-investment/) - In 2022, the growth of emerging economies has shown resilience despite strong headwinds: i) The Russia-Ukraine war; ii) the Chinese slowdown due to Covid restrictions; iii) Core rates tightening to combat inflationary pressure. - [H2O AM - Higher risks in the US system - Part 1](https://www.h2o-am.com/h2o-am-higher-risks-in-the-us-system/) - Together with the uncertainties surrounding America’s macro setup (e.g., more leverage, overvalued currency, regional bank mismanagement, twin deficits, etc.), this new environment of higher inflation and rates prognosticates the end of US exceptionalism. This should benefit discounted alternatives such as emerging assets, but also non-US cyclical value stocks and HY credit. - [Comments on the 2022 Financial Statements of the holding company](https://www.h2o-am.com/comments-on-the-2022-financial-statements-of-the-holding-company/) - Several articles are generating confusion and potentially misleads readers. That requires comment from the H2O Group. When commenting on accounts, one must precisely identify the audited entity and not to mix all of them up : the company in question is not H2O Asset Management nor H2O, but H2O AM Holding SA, our Holding entity based in Luxembourg, which serves as the parent of our operating and regulated asset management subsidiaries. - [Compte rendu relatif aux frais d’intermédiation pour l’exercice 2022](https://www.h2o-am.com/fr/h2o-communication-11/) - Nous portons à votre connaissance le compte rendu relatif aux frais d'intermédiation et les conditions dans lesquelles elle a eu recours à des services d'aide à la décision d'investissement et d'exécution d'ordres pour l'exercice de 2022. - [ Emerging Markets vs. Developed Economies: what has changed for investors?](https://www.h2o-am.com/fr/emerging-markets-vs-developed-economies-what-has-changed-for-investors/) - En anglais uniquement - [H2o AM conteste la décision de l'AMF](https://www.h2o-am.com/h2o-communication-4/) - Vous trouverez ci-dessous la communication de H2O AM - uniquement en anglais : - [H2O AM MacroNote - Jusqu’ici tout va bien](https://www.h2o-am.com/fr/h2o-am-macronote-jusquici-tout-va-bien/) - Au cours des derniers mois, la croissance a affiché des résultats contrastés en fonction des régions. Alors que la Zone Euro marquait le pas et que la Chine montrait des signes inquiétants de ralentissement, les Etats-Unis continuaient de se démarquer. Ainsi, l'inflation de base devrait continuer à décélérer en raison de la baisse de la demande et de l'amélioration des chaînes d'approvisionnement. - [H2O AM MacroNote - Devises émergentes : Les planètes restent alignées](https://www.h2o-am.com/fr/h2o-am-macronote-devises-emergentes-les-planetes-restent-alignees/) - En 2022, la croissance des économies émergentes a fait preuve de résilience malgré de forts vents contraires : i) la guerre Russie-Ukraine ; ii) le ralentissement chinois lié aux restrictions Covid ; iii) le resserrement des taux directeurs pour lutter contre les pressions inflationnistes. Pour autant, les indices des marchés émergents ont subi de fortes corrections en raison de la force du dollar, soutenue par la hausse des taux américains, combinée à la surperformance frappante de l'économie américaine. - [H2O LUX INVEST - Rapport annuel et états financiers audités au 31/05/2023](https://www.h2o-am.com/fr/h2o-lux-invest-rapport-annuel-et-etats-financiers-audites-au-31-05-2023/) - Veuillez trouver ci-dessous le rapport annuel et les états financiers audités des fonds H2O Lux Invest au 31/05/2023. - [H2O AM MacroNote - La Banque du Japon (BOJ) a-t-elle le temps d’attendre ?](https://www.h2o-am.com/fr/h2o-am-macronote-la-banque-du-japon-boj-a-t-elle-le-temps-dattendre/) - Depuis le 21 octobre, la devise japonaise s’apprécie fortement face au billet vert : +10% au 2 décembre. La raison principale de ce revirement est à trouver dans la révision des anticipations du marché avec des hausses de taux de la Fed moins conséquentes, combinée aux récentes indications d'assouplissement des restrictions sanitaires chinoises. Toutefois, ces événements pourraient toujours être considérés comme insuffisants pour justifier un renforcement pérenne de la devise, notamment si la Banque Centrale du Japon ne donne pas de signes concrets indiquant qu’elle prévoit de modifier la trajectoire de sa politique monétaire et de s'aligner sur les autres économies dans le cycle de resserrement mondial. - [H2O AM MacroNote - Un nouveau coup de pouce à la reflation](https://www.h2o-am.com/fr/h2o-am-macronote-un-nouveau-coup-de-pouce-a-la-reflation/) - La guerre dramatique en Ukraine a été une perturbation majeure de la paix mondiale, une réminiscence de la guerre froide que tout le monde espérait derrière nous pour de bon. Elle a également été un grand casse-tête pour les investisseurs, laissant deviner les conséquences de ce conflit dans un monde globalisé où chaque pays a besoin des autres pays ! Pas étonnant que l'on craigne le pire dans de telles circonstances où la géopolitique prend le dessus sur l'ordre économique, commercial et social existant. Mais, passé le choc, la réalité économique tend à revenir, plaidant pour plus de pragmatisme dans la réaction au conflit et à ses conséquences. Le temps est venu d'approfondir la situation, maintenant que cette boucle de rétroaction entre politique et économie a eu lieu. - [Information sur les sides pockets](https://www.h2o-am.com/h2o-communication/) - Veuillez trouver ci-dessous la dernière communication de H2O AM - [Information sur les sides pockets](https://www.h2o-am.com/h2o-communication-en-16-10-2023/) - Vous trouverez ci-dessous la dernière communication de H2O AM. - [Avis aux porteurs de parts et aux actionnaires](https://www.h2o-am.com/fr/modification-de-la-documentation-reglementaire-fr-22-12-2023/) - Nous informons les porteurs de parts et les actionnaires des OPCVM listés ci-après qu’à compter du 29 décembre 2023, la documentation réglementaire de ces OPCVM sera modifiée comme suit : - [H2O AM a pris connaissance de l’assignation du Collectif Porteurs H2O et conteste vigoureusement les allégations](https://www.h2o-am.com/fr/h2o-am-communication-dentreprise-22-12-2023/) - H2O AM a pris connaissance de l’assignation du Collectif Porteurs H2O (ci-après, ‘le Collectif’) et conteste vigoureusement les allégations sensationnelles du dossier. - [Avis aux porteurs de parts et aux actionnaires](https://www.h2o-am.com/fr/modification-de-la-documentation-reglementaire/) - Nous informons les porteurs de parts et les actionnaires des OPCVM listés ci-après qu’à compterdu 29 décembre 2023, la documentation réglementaire de ces OPCVM seramodifiée comme suit - [Voeux du CEO](https://www.h2o-am.com/fr/h2o-communication-12/) - L’année 2023 vient de se terminer avec son lot de défis et, heureusement, ses réussites et bons moments. A l’aube de la nouvelle année, je tiens à vous présenter, au nom des équipes d’H2O AM, tous nos meilleurs vœux pour 2024. Je tiens également à revenir sur les 12 derniers mois qui sont synonymes de fierté mais aussi d’une prudence indispensable. - [H2O AM wishes to reiterate its policy of defending its interests within the appropriate forums.](https://www.h2o-am.com/h2o-am-wishes-to-reiterate-its-policy-of-defending-its-interests-within-the-appropriate-forums/) - H2O AM wishes to reiterate its policy of not participating in media speculation and of defending its interests within the appropriate forums. Nevertheless, the recent series of published articles calls for a necessary clarification. - [Launch of Communication and Marketing department and Appointment](https://www.h2o-am.com/h2o-press-release-2/) - H2O AM takes its evolution one step further with the launch of its Communications& Marketing department and the appointment of a new spokesman of the investment team. - [Appointment of a Chief Sales and Marketing Officer, member of the Global Executive Committee, and opens a new office in Switzerland](https://www.h2o-am.com/h2o-press-release-4/) - H2O AM accelerates its development with the appointment of a Chief Sales and Marketing Officer, member of the Global Executive Committee, and opens a new office in Switzerland. - [The impact of the Russian Crisis on H2O AM Portfolios](https://www.h2o-am.com/h2o-communication-9/) - Until mid-February, under previously difficult market conditions with a notable decline in most stock market indices, H2O funds recorded significantly positive performances, demonstrating the capacity of global macro strategies to provide diversification within a portfolio allocation. Indeed, since March 2020, we have been developing a strong growth scenario which has proven to generate higher than expected inflation and a stronger reaction from central banks. - [The war in Ukraine, a non-systemic crisis for the markets](https://www.h2o-am.com/h2o-communication-8/) - The global economy saw 2021 end with a spectacular momentum (strong growth in the fourth quarter across all countries of the world, historically intense and synchronised). This momentum has continued into January-February 2022 thanks to the following factors: - [Update to the Internet notice](https://www.h2o-am.com/update-to-the-internet-notice/) - Please find below an update dated April, 21 2022 to the internet notice. - [Revue de performance 2023](https://www.h2o-am.com/fr/revue-de-performance-2023-2/) - Au début de l'année 2023, il y a un an, les économistes avertissaient sur l'imminence d'une récession, renforçant ainsi les craintes d’investisseurs déjà inquiets. Et pour cause, puisque cet avertissement faisait suite à une année difficile (2022), marquée par l'une des pires périodes pour les marchés obligataires en raison de l'escalade de l'inflation et des ajustements des taux directeurs qui avaient suivi. Pourtant, les tensions observées sur l’ensemble des marchés du travail mondiaux, l'absence de déséquilibres majeurs dans le bilan des ménages ou des entreprises, ainsi que l’impact différé des politiques monétaires restrictives, ont permis de contrer le cycle baissier redouté. Le pessimisme du marché observé début 2023 s’est ainsi avéré être davantage un piège qu’un avertissement salutaire pour les investisseurs. - [L’inflation « pot de colle » : Je t’aime, moi non plus !](https://www.h2o-am.com/fr/linflation-pot-de-colle-je-taime-moi-non-plus/) - Initié par la politique des banques centrales, un scenario de ralentissement progressif de l’économie mondiale semble se dessiner, couplé à une légère récession américaine fin 2023 ou au tournant de l’année 2024. - [Le nouveau casse-tête des banques centrales](https://www.h2o-am.com/fr/le-nouveau-casse-tete-des-banques-centrales/) - Le stress bancaire du mois de mars fut un bon test pour l'économie mondiale : il a prouvé l'absence de canaux de contagion viables qui auraient pu accélérer le ralentissement auquel sont confrontées la plupart des économies en phase de fin de cycle économique. Les dépôts américains en provenance de banques en difficulté ont été transférés vers d’autres institutions aux bilans plus solides, ce qui a davantage consolidé le secteur avec un impact marginal sur les standards de crédit des grands groupes bancaires au-delà des mesures prises par la Fed pour restreindre les liquidités. En Europe, l’enquête sur la distribution du crédit bancaire dans la zone euro (BLS) a indiqué que, bien que le rythme du durcissement financier ait considérablement augmenté, les conditions de resserrement ne se sont pas accentuées à la suite des récentes tensions bancaires. Outre la détermination des régulateurs à déployer des mesures macroprudentielles efficaces, l'absence de risque systémique trouve également son origine dans la solidité des bilans des agents économiques, soulignant la capacité des ménages et entreprises à faire face à des conditions financières plus restrictives. - [Revue de performance 2022](https://www.h2o-am.com/fr/revue-de-performance-2022/) - Comme anticipé, l'année 2022 s’est caractérisée par une croissance nominale élevée et une demande soutenue. L'économie des services est devenue un moteur important pour la croissance, notamment aux Etats-Unis. Les gouvernements ont maintenu leur politique du « quoi qu'il en coûte » afin de protéger les ménages contre l'inflation. La consommation privée n'a pas ralenti car les salaires ont fortement augmenté dans un marché du travail tendu. Aux Etats Unis, et même en Europe, les ménages ont continué à dépenser leur épargne cumulée pendant la pandémie. - [Les allumettes ne brûlent pas dans le vide](https://www.h2o-am.com/fr/les-allumettes-ne-brulent-pas-dans-le-vide/) - Depuis le début de l’année, les sujets de préoccupation ont changé à maintes reprises. Le premier trimestre a d’abord été marqué par la prise de conscience collective que le phénomène d’inflation se révélait durable, et non pas transitoire ; ceci déclenchant des débats autour d’un possible retour de la stagflation tant redoutée. - [Quelle allocation d’actifs face aux hausses de taux et à la montée de l’inflation cyclique?](https://www.h2o-am.com/fr/quelle-allocation-dactifs-face-aux-hausses-de-taux-et-a-la-montee-de-linflation-cyclique/) - Après un premier trimestre marqué par la prise de conscience que l’inflation était bien là pour durer (chute des valeurs de croissance, début de rotation en faveur des valeurs cycliques « décotée ») puis, par l’incrédulité mondiale face à la résurgence d’un conflit militaire sur le sol européen, les trois premiers mois de 2022 se sont achevés avec, en point d’orgue, l’inversion de la courbe 5 ans-30 ans américaine. - [Communication concerning the funds H2O Adagio SP,H2O Allegro SP, H2O Moderato SP, H2O MultibondsSP, H2O Multistrategies SP, H2O Multiequities SP, H2OVivace SP](https://www.h2o-am.com/h2o-communication-7/) - In August 2020, given the valuation uncertainties of several securities, 7 of our French funds were suspended while side pocket structures were created. - [Can the Bank of Japan afford to wait and see?](https://www.h2o-am.com/can-the-bank-of-japan-afford-to-wait-and-see/) - Since October 21st, the Japanese currency experienced a major appreciation against the greenback: +10% as of December 2nd. - [H2O GLOBAL STRATEGIES ICAV – France Deregistration Notice](https://www.h2o-am.com/h2o-global-strategies-icav-france-deregistration-notice/) - Please find below the information concerning the France deregistration - [H2O AM - Finding alternatives to US assets in the current macro landscape - Part 2](https://www.h2o-am.com/h2o-am-finding-alternatives-to-us-assets-in-the-current-macro-landscape-part-2/) - Finding alternatives to US assets in the current macro landscape H2O Asset Management 2023 Midyear Outlook - video excerpt 2/2 - [Another boost to reflation](https://www.h2o-am.com/another-boost-to-reflation/) - The dramatic war in Ukraine has been a major disturbance to world peace, a reminiscence of the cold war everyone could have hoped was behind us for good. It has also been a major headache for investors, left guessing the consequences of this conflict in a globalised world where every country needs other countries! - [Publication of H2O AM's 2022 annual accounts](https://www.h2o-am.com/h2o-communication-2/) - The 2022 financial statements of several H2O entites are now available. - [Sticky Inflation: A self-love story](https://www.h2o-am.com/sticky-inflation-a-self-love-story/) - Our analysis of the macro landscape depicts a scenario of gradual slowdown of the global economy initiated by central banks, with a mild US recession at the end of 2023 or early next year. - [Central Banks’ new conundrum](https://www.h2o-am.com/central-banks-new-conundrum/) - The March banking stress was a good test for the global economy: it proved the lack of viable channels of contagion which could have accelerated the downturn now faced by most economies in the late business cycle phase. US deposits are moving from failing banks into institutions with stronger balance sheets, thus further consolidating the sector with marginal impact on credit standards from large cap banks beyond the Fed’s own measures to restrict liquidity. In Europe, the euro area bank lending survey (BLS) indicated that, although the pace of financial tightening increased substantially, tightening conditions did not accelerate following the recent banking stress. And besides regulators’ resolve to deploy swift macro-prudential measures, the lack of systemic risk also finds roots in the sound balance sheet conditions of economic agents, underscoring the capacity of households and firms to weather stricter financial conditions. - [2022 Performance Review](https://www.h2o-am.com/2022-performance-review/) - As anticipated, the year 2022 was characterised by high nominal growth and sustained demand. The Services economy took the lead as a driving force for growth, especially in the United States. Governments maintained their “Whatever it takes” stance to protect their citizens against inflation. Private consumption did not fall behind as workers preserved their pricing power in a tight labour market environment. In the United States, and even in Europe, households have continued to spend their savings cumulated during the pandemic. - [Matches don’t burn in a vacuum](https://www.h2o-am.com/matches-dont-burn-in-a-vacuum/) - Looking back over the year, it is fair to say that focus has been shifting. Q1 was marked by the realisation that inflation was here to stay, prompting a debate on a potential return of the much-dreaded stagflation. Such anxiety grew stronger with the war in Ukraine adding another layer to supply-side inflation, especially on the energy front, but also as cyclical inflation anchored itself throughout most economies. Q2 debates were centred on the speed and persistence of said inflation combined with the dual concern of an eroding purchasing power and of potential monetary policy calibration mistakes (with the risk of hard landing). - [In the face of rising inflation and rates, which allocation to favour?](https://www.h2o-am.com/in-the-face-of-rising-inflation-and-rates-which-allocation-to-favour/) - After a first quarter marked by the realisation that inflation was here to stay (drop in value of growth stocks, upturn in favour of "discounted" cyclical stocks), followed by global disbelief in the resurgence of a military conflict on European soil, the first three months of 2022 ended with the inversion of the US 5-year 30-year curve. - [Notice to our unitholders and shareholders on UCITS’ regulatory documentation](https://www.h2o-am.com/change-to-regulatory-documentation/) - We would like to inform unitholders and shareholders of the UCITS listed below that, from 29 December 2023, these UCITS’ regulatory documentation will be amended as follows: - [Emerging Markets vs. Developed Economies: what has changed for investors?](https://www.h2o-am.com/emerging-markets-vs-developed-economies-what-has-changed-for-investors/) - In our first episode of Think Macro, we explore the changing dynamics between emerging markets and developed economies. Join Matthieu Genessay, Head of Client Portfolio Management and spokesperson of the investment team at H2O AM, as we delve into the impact of rising inflation and evolving central bank policies, providing insights into how these changes are influencing investment strategies. - [2023 Performance Review](https://www.h2o-am.com/2023-performance-review/) - One year ago, economists surveyed at the onset of 2023 issued cautionary warnings about an impending recession, heightening the concerns of already apprehensive investors. This came on the heels of a challenging year (2022), marked by one of the worst periods for bonds due to escalating inflation and the ensuing policy rate adjustments. Yet the synchronised tightening of labour markets globally, the absence of balance-sheet imbalances among households and corporations, and the delayed impact of restrictive monetary policies on growth, collectively served as countering factors against the anticipated downcycle. Indeed, the market pessimism observed in early 2023 proved to be more of a trap than a warning for investors. - [H2O AM announces the appointment of a Sales Director and Head of APAC Distribution](https://www.h2o-am.com/h2o-am-announces-the-appointment-of-a-sales-director-and-head-of-apac-distribution/) - H2O Asset Management (H2O AM) is pleased to announce the appointment of Victor Kuoch as Sales Director and Head of Asia Pacific (APAC) Distribution. H2O Asset Management (H2O AM) is pleased to announce the appointment of Victor Kuoch as Sales Director and Head of Asia Pacific (APAC) Distribution. In his new role, Victor will be responsible for driving the company’s business development efforts in the region and leading sales activities across the APAC client landscape. - [H2O AM renforce son équipe de gestion et continue d'améliorer son processus d'investissement](https://www.h2o-am.com/h2o-communication-3/) - Fort d'un processus d'investissement collégial développé depuis près de 30 ans, H2o Asset Management (H2o AM) annonce aujourd'hui avoir renforcé son équipe de gestion avec : - [H2O Communication suite à la commission des sanctions de l'autorité des marchés Financiers](https://www.h2o-am.com/h2o-communication-6/) - La séance publique de la commission des Sanctions de l'Autorité des Marchés Fiananciers (AMF) s'est tenue le vendredi 25 novembre 2022. - [Publication des comptes annuels 2022 des entités H2O AM](https://www.h2o-am.com/h2o-communication-2/) - Les états financiers 2022 de plusieurs entités de H2O AM vont être rendus public. - [Communication concernant les fonds suivants H2O Adagio SP, H2O Allegro SP, H2O Moderato SP, H2O MultibondsSP, H2O Multistrategies SP, H2O Multiequities SP, H2O Vivace SP](https://www.h2o-am.com/h2o-communication-7/) - Vous trouverez ci-dessous la communication de H2O AM - uniquement en anglais - [Mise à jour de l'avis Internet](https://www.h2o-am.com/update-to-the-internet-notice/) - Vous trouverez ci-dessous une mise à jour datée du 21 avril 2022 de l'avis sur Internet. - [H2O GLOBAL STRATEGIES ICAV - France Avis de radiation](https://www.h2o-am.com/h2o-global-strategies-icav-france-deregistration-notice/) - Veuillez trouver ci-dessous les informations concernant la radiation de la France - [La guerre en Ukraine, une crise non systémique pour les marchés](https://www.h2o-am.com/h2o-communication-8/) - L’économie mondiale a terminé l’année 2021 en fanfare (très forte croissance au quatrième trimestre dans tous les pays du monde, historique en intensité et synchronisée). - [H2O AM Group appointment and nominations](https://www.h2o-am.com/h2o-communication-3/) - H2O AM Group strengthens its portfolio management team and further improves its investment process. - [Agreement of the unwinding of our partnership with Natixis Investment Managers](https://www.h2o-am.com/h2o-press-release/) - Natixis Investment Managers and H2O Asset Management finalize their agreement on the unwinding of their partnership. ## Pages - [Homepage](https://www.h2o-am.com/) - H2O Asset Management's mission is to assist investors in achieving their objectives by placing performance and risk over the investment horizon at the heart of their considerations. - [About H2O](https://www.h2o-am.com/about-us/) - Founded in 2010 and with offices in Paris, Monaco, London, Geneva and Singapore, H2O AM is an independent asset management company, mainly specializing in Global Macro strategies. - [A propos de nous](https://www.h2o-am.com/about-us/) - à proposde nous h2o am en chiffres 0 années d’expériencedans la gestion d’actif 0 expertises : Absolute Return Unconstrained Benchmark Anchored 0 fondsouverts Notre mission est d'accompagner les investisseurs dans l’atteinte de leurs objectifs en plaçant la performance et le risque à l’horizon d’investissement au coeur de leurs considérations. QUI sommes-nous ? Fondée en 2010 et implantée - [Carriera](https://www.h2o-am.com/careers/) - Fondata nel 2010 e con uffici a Parigi, Monaco, Londra, Ginevra e Singapore, H2O AM è una società di gestione patrimoniale indipendente, specializzata principalmente in strategie Global Macro. - [Page d'accueil](https://www.h2o-am.com/) - Voir plus loin penser librement agir résolument Avertissement : Nous avons été alertés de l’utilisation sur les réseaux sociaux et dans des emails du nom de H2O Asset Management à des fins frauduleuses, extorsions de fonds, etc. Ces individus n’ont aucun lien avec notre société et une plainte a été déposée à leur encontre. Nous - [Fonds](https://www.h2o-am.com/funds/) - -- -- -- - -- Le fonds -- est géré par --. -- Other share classes for this fund Expertise --​ Univers d’investissement -- Horizon d’investissementrecommandé -- années Indicateur de risque(PRIIPs SRI) --​ / 7 Documents Aucun code ISIN fourni. Management regulation Article of incorporation KIID Prospectus Annual Report Semi-annual Report Vue d'ensemble Nom de - [Regulatory Information](https://www.h2o-am.com/regulatory-informations/) - Access H2O's regulatory information for transparency and compliance with industry standards. - [Regulatory information](https://www.h2o-am.com/regulatory-information/) - Access H2O Asset Management's regulatory information, guaranteeing transparency and compliance. - [Informations réglementaires](https://www.h2o-am.com/regulatory-information/) - Accédez aux informations réglementaires de H2O Asset Management, garantissant transparence et conformité. - [Mentions légales](https://www.h2o-am.com/legal-notice/) - Consultez nos mentions légales et informations importantes pour H2O Asset Management concernant nos conditions d'utilisation. - [Contactez nous](https://www.h2o-am.com/contact-us/) - Contactez-nous Vos contacts Alberto Lo Presti Investor Relations Manager France & Italy Alberto Lo Presti Investor Relations Manager France & Italy Alberto Lo Presti, in charge of Investors Relations for French family offices/asset managers and for the Italian market, started his career with Natixis CIB in 2008 in alternative structured products sales team. In 2010, - [Legal notice](https://www.h2o-am.com/legal-notice/) - Review our legal notices and important information for H2O Asset Management about our terms of use. - [Contact us](https://www.h2o-am.com/contact-us/) - At H2O AM, our Client Services team covers a wide range of investment areas and strives to answer all your questions. - [Explore Our Funds](https://www.h2o-am.com/funds/) - -- -- -- - -- The fund -- is managed by --. -- Other share classes for this fund Fund Category --​ Investment Universe -- Recommended InvestmentHorizon -- years Risk Indicator(PRIIPs SRI) --​ / 7 Documents Aucun code ISIN fourni. Management regulation Article of incorporation KIID Prospectus Annual Report Semi-annual Report Overview Share class name: - [Informazioni su H2O](https://www.h2o-am.com/about-us/) - Fondata nel 2010 e con uffici a Parigi, Monaco, Londra, Ginevra e Singapore, H2O AM è una società di gestione patrimoniale indipendente, specializzata principalmente in strategie Global Macro. - [Homepage](https://www.h2o-am.com/) - La missione di H2O Asset Management è quella di assistere gli investitori nel raggiungimento dei loro obiettivi ponendo al centro delle loro considerazioni la performance e il rischio nell'orizzonte di investimento. - [Homepage](https://www.h2o-am.com/) - La missione di H2O Asset Management è quella di assistere gli investitori nel raggiungimento dei loro obiettivi ponendo al centro delle loro considerazioni la performance e il rischio nell'orizzonte di investimento. - [Homepage](https://www.h2o-am.com/) - La missione di H2O Asset Management è quella di assistere gli investitori nel raggiungimento dei loro obiettivi ponendo al centro delle loro considerazioni la performance e il rischio nell'orizzonte di investimento. - [Avviso legale](https://www.h2o-am.com/legal-notice/) - Consulta le nostre note legali e le informazioni importanti per H2O Asset Management sulle nostre condizioni d'uso. - [Esplora i nostri fondi](https://www.h2o-am.com/funds/) - -- -- -- - -- Il fondo -- è gestito da --. -- Other share classes for this fund Categoria del fondo --​ Universo di investimento -- Investimento consigliatoOrizzonte -- anni Indicatore di rischio(PRIIPs SRI) --/ 7 Documenti Aucun code ISIN fourni. Management regulation Article of incorporation KIID Prospectus Annual Report Semi-annual Report Panoramica Nome - [Contattaci](https://www.h2o-am.com/contact-us/) - In H2O AM, il nostro team di servizi alla clientela copre un'ampia gamma di aree di investimento e si impegna a rispondere a tutte le tue domande. - [Le nostre strategie e i nostri fondi](https://www.h2o-am.com/our-strategies-and-funds/) - LE NOSTRE STRATEGIE E I NOSTRI FONDI Processo di investimento In H2O AM, le opportunità di investimento vengono identificate da un team di esperti che si occupa di fattori fondamentali (Macro, Valutazione, Micro) e tecnici (Flussi di capitale, Volatilità, Price Action e Stagionalità) in modo da non perdere nessuna forza che possa guidare le tendenze - [Le nostre strategie e i nostri fondi](https://www.h2o-am.com/our-strategies-and-funds/) - LE NOSTRE STRATEGIE E I NOSTRI FONDI Processo di investimento In H2O AM, le opportunità di investimento vengono identificate da un team di esperti che si occupa di fattori fondamentali (Macro, Valutazione, Micro) e tecnici (Flussi di capitale, Volatilità, Price Action e Stagionalità) in modo da non perdere nessuna forza che possa guidare le tendenze - [Le nostre strategie e i nostri fondi](https://www.h2o-am.com/our-strategies-and-funds/) - LE NOSTRE STRATEGIE E I NOSTRI FONDI Processo di investimento In H2O AM, le opportunità di investimento vengono identificate da un team di esperti che si occupa di fattori fondamentali (Macro, Valutazione, Micro) e tecnici (Flussi di capitale, Volatilità, Price Action e Stagionalità) in modo da non perdere nessuna forza che possa guidare le tendenze - [Informativa sui cookie](https://www.h2o-am.com/cookie-policy/) - Scopri la nostra politica sui cookie e come proteggiamo la tua privacy. - [Approfondimenti e opinioni](https://www.h2o-am.com/insights/) - Esplora le ultime pubblicazioni e approfondimenti di H2O Asset Management, tra cui analisi di mercato, notizie aziendali e comunicati stampa. - [Informazioni normative](https://www.h2o-am.com/regulatory-informations/) - Accedi alle informazioni normative di H2O per la trasparenza e la conformità agli standard del settore. - [Informazioni normative](https://www.h2o-am.com/regulatory-informations/) - Accedi alle informazioni normative di H2O per la trasparenza e la conformità agli standard del settore. - [Chi siamo - Copia](https://www.h2o-am.com/about-us-copy/) - chi siamo h2o sono in numeri 0 anni di esperienza ingestione delle risorse 0 categorie di fondi : Absolute Return Unconstrained Benchmark Ancorato 0 fondi aperti La nostra missione è assistere gli investitori nel raggiungimento dei loro obiettivi ponendo al centro delle loro considerazioni la performance e il rischio nell'orizzonte temporale dell'investimento. CHI SIAMO Fondata nel 2010 - [Grazie Richieste dei media](https://www.h2o-am.com/thank-you/) - Grazie per aver inviato a il tuo interesse Apprezziamo il tuo interesse per H2O Asset Management. Uno dei nostri rappresentanti ti contatterà presto. Nel frattempo, sentiti libero di esplorare ciò che abbiamo da offrire. chi siamo Fondata nel 2010 e con uffici a Parigi, Monaco, Londra, Ginevra e Singapore, H2O AM è una società di - [grazie Richieste generali](https://www.h2o-am.com/thank-you-general-enquiries/) - Grazie per aver inviato a il tuo interesse Apprezziamo il tuo interesse per H2O Asset Management. Un nostro rappresentante ti contatterà al più presto. Nel frattempo, sentiti libero di esplorare ciò che abbiamo da offrire. chi siamo Fondata nel 2010 e con uffici a Parigi, Monaco, Londra, Ginevra e Singapore, H2O AM è una società - [Simulatore SP](https://www.h2o-am.com/simulateur-sp/) - [display_funds_parts] - [Carrières](https://www.h2o-am.com/careers/) - Fondée en 2010 et disposant de bureaux à Paris, Monaco, Londres, Genève et Singapour, H2O AM est une société de gestion d'actifs indépendante, principalement spécialisée dans les stratégies macroéconomiques mondiales.Founded in 2010 and with offices in Paris, Monaco, London, Geneva and Singapore, H2O AM is an independent asset management company, mainly specializing in Global Macro strategies. - [Careers](https://www.h2o-am.com/careers/) - careers WHO we are Founded in 2010 and with offices in Paris, Monaco, London, Geneva and Singapore, H2O AM is an independent asset management company, mainly specialising in Global Macro strategies. Based on an investment process developed over more than thirty years and on solid quantitative engineering, the teams implement a discretionary investment process based - [Fonds cantonnés](https://www.h2o-am.com/fr/fonds-cantonnes/) - Fonds cantonnés Communiqué de Presse Vidéo : Retour sur l’Offre de sortie définitive des fonds cantonnés Le taux de participation à l’Offre proposée par H2O AM LLP, lancée le 15 octobre 2024 et clôturée le 24 janvier 2025, est de 79,54% des encours des fonds cantonnés. Les porteurs ayant participé à l’Offre restent éligibles à - [Politiques cookies](https://www.h2o-am.com/cookie-policy/) - Politique cookies Politiques en matière de CookieEn naviguant sur le site http://www.h2o-am.com, un ou plusieurs cookies sont susceptibles d’être enregistrés sur votre ordinateur, votre téléphone portable ou votre tablette. 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WHO we are Founded in 2010 and with - [Simulateur SP](https://www.h2o-am.com/simulateur-sp/) - [Simulateur SP](https://www.h2o-am.com/simulateur-sp/) - [display_funds_parts] - [Nos stratégies et nos fonds](https://www.h2o-am.com/our-strategies-and-funds/) - NOS STRATÉGIES & FONDS Processus d'investissement Chez H2O AM, les opportunités d’investissement sont identifiées par une équipe d’experts couvrant à la fois les facteurs fondamentaux (macro, valorisation, micro) et techniques (flux de capitaux, volatilité, action des prix et saisonnalité) afin de ne manquer aucune force susceptible d’orienter les tendances du marché. Chaque expert se concentre - [Our strategies and Funds](https://www.h2o-am.com/our-strategies-and-funds/) - OUR STRATEGIES & FUNDS Investment Process At H2O AM, investment opportunities are identified by a team of experts covering both fundamental (Macro, Valuation, Micro) and technical (Capital Flows, Volatility, Price Action & Seasonality) factors so as not to miss any force that may drive market trends. Each expert focuses on one factor, relying on both - [thank You Media Enquiries](https://www.h2o-am.com/thank-you/) - Thank You for your interest We appreciate your interest in H2O Asset Management. One of our representatives will contact you soon. In the meantime, feel free to explore what we have to offer. about us Founded in 2010 and with offices in Paris, Monaco, London, Geneva and Singapore, H2O AM is an independent asset management - [thank You General Enquiries](https://www.h2o-am.com/thank-you-general-enquiries/) - Thank You for your interest We appreciate your interest in H2O Asset Management. One of our representatives will contact you soon. 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[antoine](https://www.h2o-am.com/?pg_user_page=antoine-2) ## Teams - [Karina Perwald-Leroy](https://www.h2o-am.com/team-members/karina-perwald-leroy/) - Dr. Karina Perwald-Leroy is Sales Director at H2O AM Europe covering the German and Austrian markets. Karina Perwald-Leroy holds a CAPA and a doctorate in international economic law. She practised with the law firm Freshfields Bruckhaus Deringer from 2003 to 2005 and worked as a manager at Atos consulting before joining State Street to set - [Thomas Jouan](https://www.h2o-am.com/team-members/thomas-jouan/) - Before joining H2O AM in December 2021, Thomas Jouan worked 3 years at Natixis Investment Managers (NIM) in London as a Portfolio Analyst. He worked in the Portfolio Engineering team helping sales to promote affiliates’ funds, and also providing investment solutions and portfolio analysis for NIM clients. Thomas began his career as a junior quantitative - [Thomas Jouan](https://www.h2o-am.com/team-members/thomas-jouan-2/) - Before joining H2O AM in December 2021, Thomas Jouan worked 3 years at Natixis Investment Managers (NIM) in London as a Portfolio Analyst. He worked in the Portfolio Engineering team helping sales to promote affiliates’ funds, and also providing investment solutions and portfolio analysis for NIM clients. Thomas began his career as a junior quantitative - [Matthieu Genessay](https://www.h2o-am.com/team-members/matthieu-genessay-2/) - [Bruno Crastes](https://www.h2o-am.com/team-members/bruno-crastes/) - [William Fouques](https://www.h2o-am.com/team-members/william-fouques-2/) - [Gonzague Real del Sarte](https://www.h2o-am.com/team-members/gonzague-real-del-sarte/) - [Thomas Goury](https://www.h2o-am.com/team-members/thomas-goury/) - [Christophe Chappuis](https://www.h2o-am.com/team-members/christophe-chappuis/) - [Andrew Egan](https://www.h2o-am.com/team-members/andrew-egan/) - [Paul Chetboun](https://www.h2o-am.com/team-members/paul-chetboun/) - [Victoire Bruley Des Varannes](https://www.h2o-am.com/team-members/victoire-rougnon/) - [Thomas Delabre](https://www.h2o-am.com/team-members/thomas-delabre/) - [Pascal Dubreuil](https://www.h2o-am.com/team-members/pascal-dubreuil/) - [Stéphane Gaillard](https://www.h2o-am.com/team-members/stephane-gaillard/) - [Vincent Chailley](https://www.h2o-am.com/team-members/vincent-chailley-2/) - [Juliette Pianko](https://www.h2o-am.com/team-members/juliette-pianko/) - [Jean-Christophe Morandeau](https://www.h2o-am.com/team-members/jean-christophe-morandeau-2/) - [Loïc Guilloux](https://www.h2o-am.com/team-members/loic-guilloux-2/) - [Babak Abrar](https://www.h2o-am.com/team-members/babak-abrar/) - [Vincent Chailley](https://www.h2o-am.com/team-members/vincent-chailley/) - He started his career in 1995 in the Research & Development team of CPR Capital Markets department. In 1996, he joined CAAM, first as an analyst in the Strategy team, then as an investment manager in the Asset Allocation team. In July 1998, he transferred to the global fixed income department as an investment manager. - [Matthieu Genessay](https://www.h2o-am.com/team-members/matthieu-genessay/) - Matthieu Genessay started his career with NewAlpha Asset Management, the hedge fund seeding subsidiary of OFI Asset Management in Paris. Within the marketing team, he worked on all alternative strategies before specialising in client servicing. In 2010, he joined Edmond de Rothschild Investment Managers, a subsidiary of La Compagnie Financière Edmond de Rothschild as a - [Babak Abrar](https://www.h2o-am.com/team-members/babak-abrar-2/) - Before joining H2O AM in August 2021 as Group Chief Sales & Marketing officer, Babak Abrar worked for over 13 years at Natixis Investment Managers as an Executive Managing Director. Co-head of the distribution for Western Europe, he was leading a team of over 50 people, covering financial intermediaries, family offices, institutional and private banks in France, - [Raphael Presles](https://www.h2o-am.com/team-members/raphael-presles-2/) - After graduating from a Master’s degree in Paris, Raphael Presles joined H2O’s Client Portfolio Management team in January 2022. He began his career in the Middle Office of Cardif, the insurance subsidiary of BNP Paribas, where he oversaw the treatment of corporate actions and assisted in the valuation of investment portfolios. In 2020, he joined - [Victor Kuoch](https://www.h2o-am.com/team-members/victor-kuoch-2/) - Victor Kuoch, CFA is a Sales Director, Head of Asia Pacific (APAC) Distribution at H2O Asset Management. In his capacity, Victor will lead H2O AM distribution business development efforts and activities across the entire client landscape in APAC. Prior to joining H2O AM, Victor Kuoch was already based in Singapore and worked as a Director at - [Mickael Benzakin](https://www.h2o-am.com/team-members/mickael-benzakin-2/) - Before joining H2O AM in August 2021, Mickael Benzakin worked for over 9 years at Natixis Investment Managers as a Director Sales Manager. He was in charge of the fund distribution, covering private banks and independent asset managers based in the French-speaking part of Switzerland and Monaco. He also covers both institutional and wholesale markets - [Cedric Ludwig](https://www.h2o-am.com/team-members/cedric-ludwig-2/) - Before joining H2O AM in August 2021, Cedric Ludwig worked at Natixis Investment Managers as a Senior Director Sales Manager, in charge of the fund distribution across independent asset managers, family offices and domestic banks in the French-speaking part of Switzerland. Previously, Cédric worked for Credit Suisse as an Investment Advisor, managing a portfolio of - [Anthony Cimetiere](https://www.h2o-am.com/team-members/anthony-cimetiere-2/) - Anthony Cimetière, in charge of Investor Relations with French IFAs (CGPI), began his career in 2005 in an audit firm. He then joined Exane in 2007 and Natixis Investment Managers in 2008 in Customer Service. In 2013, Anthony became Head of Partnerships in the retail team to cover the French IFAs (CGPI), and external networks - [Alberto Lo Presti](https://www.h2o-am.com/team-members/alberto-lo-presti-2/) - Alberto Lo Presti, in charge of Investors Relations for French family offices/asset managers and for the Italian market, started his career with Natixis CIB in 2008 in alternative structured products sales team. In 2010, Alberto was in charge of asset managers, private banks and Family Offices in Switzerland, UK, France and Belgium for SIXTINA, the - [Yoann Meyer](https://www.h2o-am.com/team-members/yoann-meyer-2/) - Yoann Meyer, in charge of Investor Relations with French IFAs (CGPI), started his career in 2006 in the BNP Paribas BFI as sales assistant. In 2008, he became Head of Partnerships within APREP, a subsidiary of the AG2R La Mondiale group. In 2011, Yoann joined Natixis Investment Managers as Head of Partnerships. In 2014, he - [Mehdi Rachedi](https://www.h2o-am.com/team-members/mehdi-rachedi-2/) - Mehdi Rachedi: is Head of Investor Relations of H2O AM Europe. He joined H2O AM in January 2019. He holds a Master degree in Banking and Finance from the University of Tours and began his career in 1997 with AGF Assurances. In 2000, he became Head of Network Development and then Head of Network Marketing - [Mickael Benzakin](https://www.h2o-am.com/team-members/mickael-benzakin/) - Before joining H2O AM in August 2021, Mickael Benzakin worked for over 9 years at Natixis Investment Managers as a Director Sales Manager. He was in charge of the fund distribution, covering private banks and independent asset managers based in the French-speaking part of Switzerland and Monaco. He also covers both institutional and wholesale markets - [Cedric Ludwig](https://www.h2o-am.com/team-members/cedric-ludwig/) - Before joining H2O AM in August 2021, Cedric Ludwig worked at Natixis Investment Managers as a Senior Director Sales Manager, in charge of the fund distribution across independent asset managers, family offices and domestic banks in the French-speaking part of Switzerland. Previously, Cédric worked for Credit Suisse as an Investment Advisor, managing a portfolio of - [Mehdi Rachedi](https://www.h2o-am.com/team-members/mehdi-rachedi/) - Mehdi Rachedi: is Head of Investor Relations of H2O AM Europe. He joined H2O AM in January 2019. He holds a Master degree in Banking and Finance from the University of Tours and began his career in 1997 with AGF Assurances. In 2000, he became Head of Network Development and then Head of Network Marketing - [Alberto Lo Presti](https://www.h2o-am.com/team-members/alberto-lo-presti/) - Alberto Lo Presti, in charge of Investors Relations for French family offices/asset managers and for the Italian market, started his career with Natixis CIB in 2008 in alternative structured products sales team. In 2010, Alberto was in charge of asset managers, private banks and Family Offices in Switzerland, UK, France and Belgium for SIXTINA, the - [Raphael Presles](https://www.h2o-am.com/team-members/raphael-presles/) - After graduating from a Master’s degree in Paris, Raphael Presles joined H2O’s Client Portfolio Management team in January 2022. He began his career in the Middle Office of Cardif, the insurance subsidiary of BNP Paribas, where he oversaw the treatment of corporate actions and assisted in the valuation of investment portfolios. In 2020, he joined - [Victor Kuoch](https://www.h2o-am.com/team-members/victor-kuoch/) - Victor Kuoch, CFA is a Sales Director, Head of Asia Pacific (APAC) Distribution at H2O Asset Management. In his capacity, Victor will lead H2O AM distribution business development efforts and activities across the entire client landscape in APAC. Prior to joining H2O AM, Victor Kuoch was already based in Singapore and worked as a Director at - [Anthony Cimetiere](https://www.h2o-am.com/team-members/anthony-cimetiere/) - Anthony Cimetière, in charge of Investor Relations with French IFAs (CGPI), began his career in 2005 in an audit firm. He then joined Exane in 2007 and Natixis Investment Managers in 2008 in Customer Service. In 2013, Anthony became Head of Partnerships in the retail team to cover the French IFAs (CGPI), and external networks - [Yoann Meyer](https://www.h2o-am.com/team-members/yoann-meyer/) - Yoann Meyer, in charge of Investor Relations with French IFAs (CGPI), started his career in 2006 in the BNP Paribas BFI as sales assistant. In 2008, he became Head of Partnerships within APREP, a subsidiary of the AG2R La Mondiale group. In 2011, Yoann joined Natixis Investment Managers as Head of Partnerships. In 2014, he - [Jean-Christophe Morandeau](https://www.h2o-am.com/team-members/jean-christophe-morandeau/) - He began his career in 1988 as a wealth manager at Paribas Bank. He then joined Paribas Asset Management as the Head of Legal Department for French UCITS in 1992. In 1999 he joined Credit Agricole Asset Management as the Legal Head of Products & Corporate-France and in 2004 became the Deputy Head of Legal - [Juliette Pianko](https://www.h2o-am.com/team-members/juliette-pianko-2/) - She began her carrier in 2004 within the Middle Office department of Credit Agricole Asset Management (which became Amundi in 2010) in London. She became Head of the Middle office in 2005, managing a team of 10 people and has worked on various operational projects from collateral management to implementation of booking/ clearing systems and - [Loïc Guilloux](https://www.h2o-am.com/team-members/loic-guilloux/) - Before joining H2O AM, Loïc Guilloux spent 22 years in the Global Markets industry (FICC and Equities), 16 years at Merrill Lynch International, based in London and Paris, where he ran several activities (Asset/Liability & Investment Solutions for Global Equities in Europe, FICC for Belgium-France-Luxembourg, Complex Interest Rates & Forex Options Sales in EMEA, SVT representative…) and - [Marc Maudhuit](https://www.h2o-am.com/team-members/marc-maudhuit/) - He started his career in 1989 as a marketing officer with Finance Indosuez Techniques (FIT), a subsidiary company of Banque Indosuez specializing in the management of structured products. From 1990 to 1992, he was in charge of the marketing of Indosuez Asset Management fixed income products. In 1992 he took over the overall marketing support - [Loïc Guilloux](https://www.h2o-am.com/team-members/loic-guilloux-3/) - Before joining H2O AM, Loïc Guilloux spent 22 years in the Global Markets industry (FICC and Equities), 16 years at Merrill Lynch International, based in London and Paris, where he ran several activities (Asset/Liability & Investment Solutions for Global Equities in Europe, FICC for Belgium-France-Luxembourg, Complex Interest Rates & Forex Options Sales in EMEA, SVT representative…) and - [Jean-Christophe Morandeau](https://www.h2o-am.com/team-members/jean-christophe-morandeau-3/) - He began his career in 1988 as a wealth manager at Paribas Bank. He then joined Paribas Asset Management as the Head of Legal Department for French UCITS in 1992. In 1999 he joined Credit Agricole Asset Management as the Legal Head of Products & Corporate-France and in 2004 became the Deputy Head of Legal - [Melodie Blondel](https://www.h2o-am.com/team-members/melodie-blondel/) - [Stephane Leclerc](https://www.h2o-am.com/team-members/stephane-leclerc/) - [Andrew Galvin](https://www.h2o-am.com/team-members/andrew-galvin/) - [Delphine Jérôme](https://www.h2o-am.com/team-members/delphine-jerome/) - [Xavier Bihel](https://www.h2o-am.com/team-members/xavier-bihel/) - [Gaetana Ricotta](https://www.h2o-am.com/team-members/gaetana-ricotta/) - [Laurence Darracq](https://www.h2o-am.com/team-members/laurence-darracq/) - [Jean-Luc Fouvet](https://www.h2o-am.com/team-members/jean-luc-fouvet/) - [Timothée Consigny](https://www.h2o-am.com/team-members/timothee-consigny/) - [Nicolas Renaud](https://www.h2o-am.com/team-members/nicolas-renaud/) - [Sophie Mourton](https://www.h2o-am.com/team-members/sophie-mourton/) - [Laurence Lezy](https://www.h2o-am.com/team-members/laurence-lezy/) - [Florian Pelissou](https://www.h2o-am.com/team-members/florian-pelissou/) - [Niral Bharat](https://www.h2o-am.com/team-members/niral-bharat/) - [Thomas McGarry](https://www.h2o-am.com/team-members/thomas-mcgarry/) - [Ruta Samuel](https://www.h2o-am.com/team-members/ruta-samuel/) - [Haider Khan](https://www.h2o-am.com/team-members/haider-khan/) - [Jonathan Dillon](https://www.h2o-am.com/team-members/jonathan-dillon/) - [Nathalie Nguyen](https://www.h2o-am.com/team-members/nathalie-nguyen/) - [Adrien Gomez](https://www.h2o-am.com/team-members/adrien-gomez/) - [Kejia Zhang](https://www.h2o-am.com/team-members/kejia-zhang/) - [Yazid Lakhriba](https://www.h2o-am.com/team-members/yazid-lakhriba/) - [Joseph Wiggins](https://www.h2o-am.com/team-members/joseph-wiggins/) - [Yuen Kit Wan](https://www.h2o-am.com/team-members/yuen-kit-wan/) - [Zeinab Marashi](https://www.h2o-am.com/team-members/zeinab-marashi/) - [Fabrice Houzé](https://www.h2o-am.com/team-members/fabrice-houze/) - [Mehdi Messad](https://www.h2o-am.com/team-members/mehdi-messad/) - [William Fouques](https://www.h2o-am.com/team-members/william-fouques/) - [Olivia Blanchard](https://www.h2o-am.com/team-members/olivia-blanchard/) - [Poh Choon Lye](https://www.h2o-am.com/team-members/poh-choon-lye/) - [Estelle Koko](https://www.h2o-am.com/team-members/estelle-koko/) ## Categories - [Press](https://www.h2o-am.com/category/press/) - [News](https://www.h2o-am.com/category/news/) - [Markets](https://www.h2o-am.com/category/markets/) - [Press](https://www.h2o-am.com/category/press/) - [Marchés](https://www.h2o-am.com/fr/category/marches/) - [News](https://www.h2o-am.com/category/news/) - [Corporate](https://www.h2o-am.com/category/corporate/) - [All](https://www.h2o-am.com/category/all/) - [Toutes les publications](https://www.h2o-am.com/fr/category/toutes-les-publications/) - [Corporate](https://www.h2o-am.com/fr/category/corporate-fr/) - [Corporate](https://www.h2o-am.com/category/corporate/) ## Tags - [offer](https://www.h2o-am.com/tag/offer/) - [offre](https://www.h2o-am.com/fr/tag/offre/) ## Groups - [Macro and Investment](https://www.h2o-am.com/gs-team-group/macro-investment-distribution/) - [Global Executive Committee](https://www.h2o-am.com/gs-team-group/the-global-executive-committee/) - [Monaco](https://www.h2o-am.com/gs-team-group/h2o-monaco-sam/) - [Europe](https://www.h2o-am.com/gs-team-group/h2o-am-europe/) - [Switzerland](https://www.h2o-am.com/gs-team-group/h2o-am-switzerland/) - [Asia](https://www.h2o-am.com/gs-team-group/h2o-am-asia-pte-ltd/) - [LLP](https://www.h2o-am.com/gs-team-group/h2o-am-llp/) - [France](https://www.h2o-am.com/gs-team-group/france/) - [Germany](https://www.h2o-am.com/gs-team-group/germany/) - [Singapore](https://www.h2o-am.com/gs-team-group/singapore/) - [Belgium](https://www.h2o-am.com/gs-team-group/belgium/) - [Spain](https://www.h2o-am.com/gs-team-group/spain/) - [Italy](https://www.h2o-am.com/gs-team-group/italy/) - [Luxembourg](https://www.h2o-am.com/gs-team-group/luxembourg/) - [UK](https://www.h2o-am.com/gs-team-group/uk/) - [Netherlands](https://www.h2o-am.com/gs-team-group/netherlands/) - [Ireland](https://www.h2o-am.com/gs-team-group/ireland/) - [Austria](https://www.h2o-am.com/gs-team-group/austria/) - [South Korea](https://www.h2o-am.com/gs-team-group/south-korea/) - [International](https://www.h2o-am.com/gs-team-group/international/)