MSCI ESG Research downgraded Nissan from 'B' to 'CCC' on September 10, 2018, the lowest industry-relative rating on the scale of 'CCC' to 'AAA'. The downgrade was primarily attributed to systemic failures in governing its corporate behavior.

Demand from investors for this type of securities is explained by their attractive risk/return ratio. Indeed, even if yields depend on the issuing bank and the origin of the country, in general this yield offered is higher than that of government bonds issued for the same maturity in the same country.

L/S Equity and Event-Driven strategies underperformed due to their elevated market beta. L/S Equity strategies also suffered due to the rotation in risk factors which saw growth/ momentum stocks underperforming value and low beta stocks.

Mirova, the leading asset manager dedicated to sustainability investing and affiliate of Natixis Investment Managers, held 250M€ first close for Mirova Eurofideme 3 in late October.

Managed by financials veteran Guy de Blonay since 2015, the Jupiter Global Financials fund is being repositioned with the aim of continuing to take advantage of the digital transformation of the financial services sector – a structural shift the manager views as an unprecedented long-term opportunity.