CPR Asset Management maintains a bias favorable to value stocks. Nonetheless, the management company took some profits in some of these segments during the month, such as North American small caps and the oil sector.CPR Asset Management maintains a bias favorable to value stocks. Nonetheless, the management company took some profits in some of these segments during the month, such as North American small caps and the oil sector.

Global growth prospects are improving as fiscal support is stepped up sharply, economies adapt to social distancing and vaccination rollout gathers momentum, says Fitch Ratings in its latest Global Economic Outlook (GEO) released today.

Within its equity allocation, CPR Asset Management has accentuated its bias in favor of value and cyclical assets, for example via global Value ETFs, lines on European markets, in the banking sector, energy or ETFs on commodities ...

Jean-Louis Charles, Chief Investment Officer at AG2R LA MONDIALE, this strategy enabled the Group to remain calm in the first half of 2020 while remaining invested in equities. The strategy was carried out through the purchase of puts on the EuroStoxx50 index.

In recent months, Market Neutral L/S strategies underperformed other hedge fund strategies, in a context where risk assets rallied following the Pfizer vaccine announcement in November 2020. While the strategy is not designed to capture the equity market beta, the alpha contribution has declined since Q4-2020.