Embracing a new paradigm in fixed income markets

Webcast avec Meret Gaugler, Co-Gérante

Volatility is back. After a prolonged period of smooth sailing, 2018 has served as a sharp reminder that markets can be unpredictable. The big question is: where will volatility strike next? At Lombard Odier Investment Managers, we believe it could be the oil market. We see risk of a spike in oil prices given the overall increase in volatility in the Middle East, and especially in light of OPEC’s agreement to extend the cut in supply to the end of 2018. Excess inventories have been hoovered up and pressure on Iran and Venezuela is adding further risk on the supply side. And, oil being what it is, the ramifications could be felt well beyond the oil market specifically, particularly in emerging market assets.

Salman Ahmed, Chief Investment Strategist, will explore our views on the risks currently at play in the oil market and the implications that could have for investment strategies more broadly. Please join us for this brief webinar, which will also include an opportunity to ask Salman any questions you may have on the topic.

A sustainability revolution is underway.

The global economic model is, in our view, unsustainable. Changing demographics, climate change, scarcity of natural resources, inequality and the digital revolution are some of the structural forces that will transform our economies and the businesses that drive them in the coming years.

Consumer behaviour is already shifting as an increasingly informed, and increasingly formidable, social consciousness continues to build. Governments are adding pressure with an acceleration in new legislation, which is increasingly focussed on the role investors can play in financing the transition and holding companies to account. Meanwhile, the changing physical climate is also forcing companies to adapt.

This transition creates great opportunity, but it also creates great risk.

Sustainability is central to both economic outcomes and risk-adjusted returns. With that in mind, investors need to adapt how they run portfolios. After all, sustainability is not a product issue. It is a multi-jurisdictional, multi-asset-class, multi-sector and multi-strategy issue and thus needs to be looked at holistically.

In this webinar will consider how investors can:

* carry out their responsibility to society

* protect portfolios from risk

* gear their portfolios towards the return drivers of tomorrow

New paradigms in markets require new paradigms in investments
In the challenging new investment world investors are being forced to
broaden their horizons and take a longer-term approach in order to grow
their capital or earn yield. And by locking in their capital for longer investors
lose the ability to convert their investments to cash at short notice – they give
up liquidity. We believe All Roads can plug this gap in investors’ portfolios.That said, All Roads is much more than just a liquid investment...

Aurèle Storno, Lead Portfolio manager, and Alain Forclaz, Client Portfolio Manager, will present the All Roads strategy: a liquid, diversified multi-asset strategy with a strong focus on downside protection, which we believe to be best-placed to navigate the new fixed income paradigm.

Join Théodore Economou, CIO of Multi Asset and Chairman of LO Pension Fund Investment Committee, and Aurèle Storno, CIO of LO Pension Fund, in this webinar.
Charles St Arnaud, Senior Investment Strategist, will give a macro outlook at the beginning of the webinar.

Théodore and Aurele will then explain Lombard Odier Investment Managers’ innovative approach to asset allocation - our tried and tested ‘outcome-oriented’ approach, which means:

• Putting investors’ desired investment outcomes in the driving seat when constructing their portfolios
• Assembling fit-for-purpose portfolio building blocks according to investors’ objectives
• Finding a new liquid core portfolio allocation; a liquid, diversified multi-asset strategy with a strong focus on downside protection is best-placed to fulfill this role, in our view.

Vilas Gadkari, Co-CIO 1798 Global Macro Strategies, will review the
performance of the Fund for the third quarter of 2017 and discuss the current positioning and 2017 outlook.

Q3 Performance review and outlook

Didier Rabattu livrera un point macro des marchés émergents. Il expliquera aussi pourquoi, selon lui, les actions émergentes recèlent des opportunités à long terme, à condition de les chercher au bon endroit.

Jan Szilagyi, Co-CIO 1798 Global Macro Strategies, will review the
performance of the Fund for the second quarter of 2017 and discuss the current positioning and outlook.

Jan Szilagyi, Co-CIO 1798 Global Macro Strategies, will review the
performance of the Fund for the second quarter of 2017 and discuss the current positioning and 2017 outlook.

Emerging Market Debt: Strengthening fundamentals, an improved geopolitical outlook and attractive valuations

On 13 July 2017, join us to listen to Salman Ahmed’s insights on what makes emerging market debt attractive and why he favours local versus hard currencies. Salman will also explain why investors should rethink implementation when it comes to this asset class.

Don’t miss the opportunity to have your questions answered in this live presentation.

Q2 Performance review and outlook

Emerging market debt is on solid footing and current market valuations provide a cushion against risks such as an unexpectedly tightening of monetary policy in the US.

That said, emerging markets are a collection of very diverse economies; it follows that the impact of various risk scenarios will vary significantly from country to country. For us this means the approach to investing in the asset class has never been more critical.

Constructing a portfolio according to fundamentals rather than market cap can help to focus on quality issuers while reducing the reliance on trading. This latter point is especially important given the impaired liquidity environment.

Lors cette webconférence, Maxime Perrin, Analyste Sénior et Client Portfolio Manager, fera un point de gestion des différents portefeuilles en obligations convertibles de Lombard Odier IM et donnera ses perspectives trimestrielles.

Didier Rabattu, Head of Global equities at Lombard Odier IM, will discuss recent events in European and emerging markets and explain why he believes these equities currently present a long-term value opportunity but that investors must carefully consider what investment approach is most appropriate to capture it.

Amid a busy political agenda across Europe, high valuations and an historically-extended business cycle, we believe investors face an avalanche of information and noise but very little genuine advice on what is in their best interests.

On Monday 8th May, Salman Ahmed, Chief Investment Strategist, will host a webinar to discuss the implications of the final result of the French election and the wider geopolitical and macroeconomic landscape, focusing on European equities.

We believe there is real value on offer in Europe, but we also believe that deep uncertainty about the political environment and the global business cycle makes it sensible to invest, with high conviction, in the one thing that we think never really changes: what some call “quality”.

LO Funds-Global Macro - Q1 2017 performance review and outlook

Q1 Performance review and outlook

Jan Szilagyi, Co-CIO Global Macro Strategies, will review the
performance of the Global Macro Fund in 2016 and discuss the
current positioning and 2017 outlook.