Perspectieven en actualiteiten.

Bond credit spreads have fallen over the past three years, prompting us to reassess the attractiveness of this asset class. 

Dominik Kremer joins Edmond de Rothschild Asset Management with the objective to further develop and drive business activities across liquid and illiquid capabilities in institutional and wholesale channels.

Making gold more responsible and traceable

•    The year began with Donald Trump’s shift to an interventionist and international policy.•    Within the zone, activity data has remained positive and credit has continued to recover.•    In this environment, we have maintained our approach with a modest positive allocation to fixed income, a neutral position on equities and a negative view on the dollar. Our constructive view on credit and emerging fixed income markets is unchanged.

The expenses race is stepping up, and not just among hyperscalers.

Please find below our 2026 investment strategy and the latest edition of our Outlook & Convictions, a publication by the Private Banking Investment team and our Group's experts. 

Anne-Laurence Roucher rejoint le comité exécutif d'Edmond de Rothschild Asset Management avec pour objectif de diriger et de développer les activités liées aux actifs non-cotés Cette création de poste vise à développer un plan stratégique ambitieux afin de favoriser la croissance de ces activités 

By Sébastien Cavernes, CIO Edmond de Rothschild Gestion (Monaco).

•    In the United States, the latest figures confirm a slowdown in jobs creation and inflation, reinforcing expectations of further rate cuts. However, equity markets remain under pressure due to lingering doubts about AI. •    In Europe, markets were briefly lifted by news on the Ukraine conflict. •    In Asia, Japan stood out in a positive way. The Tankan corporate confidence survey hit its highest level in 4 years despite trade tensions with the US.

Asset allocation: Investing amid a bubbleBenjamin Melman, Global CIO AM Credit market: 2026 is set to be a strong year for credit markets!Alain Krief, Head of Fixed Income European equities:  a three-step WaltzCaroline Gauthier, Co-Head of Equities  International equities: 2026, a structural year for equities and the end of the prologueJacques-Aurélien Marcireau, Co-Head of Equities Management philosophy: Decorrelate your portfolio by investing in European defenceAnthony Penel, European Equities Portfolio Manager

•    The Fed cut rates by 25 basis points for the third consecutive time, triggering a rise in equity markets.•    In Europe, the probability of an agreement with Russia increased after Volodymyr Zelensky said a referendum on ceding control of some Ukrainian territory could be held, which eurozone equities higher.•    In China, exports rebounded in November while imports remained flat, a sign that Chinese domestic demand is still soft.

Edmond de Rothschild Asset Management was recently awarded the prize for Best Regional Global Bond Company at the 7th edition of the Quantalys France Harvest Group Awards. This award, which concludes a trophy-filled 2025, recognizes our EdR SICAV Financial Bonds and EdR SICAV Corporate Hybrid Bonds funds. These two strategies, based on proven expertise, perfectly illustrate our commitment to offering our clients innovative investment solutions that provide diversification in the fixed income markets. Congratulations to our investment teams: Julien de Saussure, Benjamine Gouraud, Nicklaus Miguel Raminhos, Marc Lacraz, Vianney Hocquet, and Daniela Savoia.