{"id":64649,"date":"2017-07-20T02:20:00","date_gmt":"2017-07-20T00:20:00","guid":{"rendered":"http:\/\/beta.next-finance.net\/strategie\/anne-le-borgne-our-international-equity-thematic-fund-amundi-funds-cpr-global-lifestyles-aims-to-tap-into-the-boom-in-multi-generational-well-being\/"},"modified":"2017-07-20T02:20:00","modified_gmt":"2017-07-20T00:20:00","slug":"anne-le-borgne-our-international-equity-thematic-fund-amundi-funds-cpr-global-lifestyles-aims-to-tap-into-the-boom-in-multi-generational-well-being","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/strategie\/anne-le-borgne-our-international-equity-thematic-fund-amundi-funds-cpr-global-lifestyles-aims-to-tap-into-the-boom-in-multi-generational-well-being\/","title":{"rendered":"Anne Le Borgne : \u201cOur international equity thematic fund, Amundi Funds CPR Global Lifestyles aims to tap into the boom in multi-generational well-being.\u201d"},"content":{"rendered":"<p><em> <strong>Well-being and self-actualisation are structural societal<br \/>\ntrends whose growth potential CPR AM, a well-regarded<br \/>\nthematic manager, wants to tap into. <\/p>\n<p>Interview with Anne Le Borgne, Thematic Equities Portfolio Manager<\/strong> <\/em><\/p>\n<p><strong>What is the fund\u2019s philosophy?<\/strong><\/p>\n<p>Capitalise on the self-actualisation aspirations of individuals in the 21st century \u2013 that is what we are<br \/>\nseeking to do through our Lifestyles strategy.<\/p>\n<p><quote>Our international equity thematic fund, Amundi Funds CPR Global Lifestyles, for example, aims to<br \/>\ntap into the boom in multi-generational well-being.<\/quote><\/p>\n<p>This is a rich theme that is based on long-term structural trends, such as wealth creation, the expansion in the middle classes in emerging economies, and new consumer trends and shifts in those trends.<\/p>\n<p><strong>How did you identify the theme of \u201cwell-being\u201d?<\/strong><\/p>\n<p>Our idea of targeting well-being goes back to the American psychologist Abraham Maslow, who has<br \/>\nshown that individual motivation rises when certain emotional needs are satisfied. Within a<br \/>\npyramid he ranked needs while separating vital needs (food, health and safety) from selfactualisation<br \/>\nones.<\/p>\n<p>He focused on three, emotional needs that are especially important for individual well-being: <\/p>\n<ul>\n<li> the need to belong to a community: nowadays, millennials (18-35-year-olds born after 1980) exchange and share their experiences through apps or the social networks;<\/li>\n<li> the need for self-esteem or recognition: for example, through luxury products or sports cars that help one stand out from the crowd;<\/li>\n<li> the need for personal fulfilment or self-actualisation: the search for new experiences is increasingly prominent with travel, sports entertainment, artistic activities, and so on.<\/li>\n<\/ul>\n<p><strong>How does this play out in terms of investment opportunities?<\/strong><\/p>\n<p>Through this theme and its underlying trends, our investment universe is multi-sectorial; it goes<br \/>\nwell beyond consumption and into leisure, the digital economy, tourism, well-being, transport,<br \/>\nluxury goods, financials, sports and sporting equipment.<\/p>\n<p>Meanwhile, the rise of the millennials (18-35-year-olds), who are already more numerous than<br \/>\nbaby-boomers, offers new modes of consumption. In adopting various lifestyles, these eminent<br \/>\ninfluencers generate investment opportunities, particularly by seeking out new experiences in the<br \/>\nform of travel, video games, music, Internet movies, online retailing, etc.<\/p>\n<p><strong>What is your investment process?<\/strong><\/p>\n<p>Within a broad universe of 400 stocks, we determine our sector allocation on the basis of the<br \/>\neconomic environment and specific sector indicators, such as tourism flows, consumer confidence<br \/>\nsurveys, etc.<\/p>\n<p>Within each sector we pay special attention to each company\u2019s strategic vision, which we assess<br \/>\nduring regular one-on-one meetings with management.<\/p>\n<p>Our analysis also includes a fundamental approach that is based on an analysis of qualitative<br \/>\ncriteria (the attractiveness of the market on which the company operates, the company\u2019s ability to<br \/>\nstand out from the competition, its geographical exposure) and quantitative criteria (valuation,<br \/>\nearnings dynamics, analysis of profitability, etc.).<br \/>\n<br \/>The final portfolio consists of 60 to 100 shares. <\/p>\n<p><strong>What is your current sector and geographical exposure?<\/strong><\/p>\n<p>As the reforms that Trump promised are taking time being passed, we have reduced our US<br \/>\nexposure (to 59% from 63%) and raised our exposure to Europe (to 30% from 21%), where<br \/>\nmacroeconomic indicators are improving. In self-actualisation activities, we are currently<br \/>\noverweighting leisure (25%), which is being driven by solid confidence indicators; luxury (15%),<br \/>\nwhose sales have rebounded sharply with the improvement in tourist numbers; and tourism (12%),<br \/>\nwhich is being driven by structural growth in flows of travellers. After faring well in the first half of<br \/>\nthe year with growth sectors, we recently took up positions in lower-priced sectors, such as<br \/>\nfinancials via private banks and asset managers, which should benefit from higher US interest rates<br \/>\nand more favourable regulations.<\/p>\n<p><strong>What are the strengths of the Amundi Funds CPR Lifestyles fund for an investor?<\/strong><\/p>\n<p>Well-being is far more than a mere marketing concept. It\u2019s an actual aspiration for each of us with truly long-term sources of growth.<\/p>\n<blockquote><p>Our unique approach includes all facets of self-actualisation and not just consumption. It allows us to capture a multitude of investment opportunities while adjusting to economic cycles.<\/p><\/blockquote>\n<p>Amundi Funds CPR Global Lifestyles can therefore be a true source of diversification with \u201chappiness as a bonus\u201d.<\/p>\n<p><strong>And in terms of performances?<\/strong><\/p>\n<p>The fund has gained 6.33%[[Net performance of AE units \u2013 ISIN LU0568611817 (in euros)]] YTD as of end-June, thus outperforming its World Consumer Discretionary index benchmark (+2.83%).<\/p>\n<p>In July 2017 the fund adopted the MSCI World as its new benchmark.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well-being and self-actualisation are structural societal<br \/>\ntrends whose growth potential CPR AM, a well-regarded<br \/>\nthematic manager, wants to tap into.<\/p>\n","protected":false},"author":20,"featured_media":64647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1483],"tags":[1663,1655,1651,1667,1877,1650],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/64649"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=64649"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/64649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/64647"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=64649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=64649"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=64649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}