L’investissement responsable est devenu incontournable

QUAERO Capital - Word from the CEO
Photo: DR

L’intégration de critères ESG dans la gestion d’actifs n’a rien de nouveau, puisque les fonds « verts » ont vu le jour dans les années 80 déjà. Cependant, sous la pression conjuguée des investisseurs, des consommateurs et des législateurs, la gestion durable est aujourd’hui passée du statut d’attribut sympathique mais complètement optionnel à celui d’impératif incontournable.

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Asia’s income attraction

Yield
Photo: Nick Youngson CC BY-SA 3.0 Alpha Stock Images

If Trump is thinking of running on the same slogan as two years ago, he will need to add something – “Make America Great Again – it should be easier from a lower base…” While it would be unfair to blame the President for the entirety of the ‘Trump dump’, the sniping at the Fed, the incompetence of the foreign policy (what policy?) and the totally unnecessary trade wars are material factors. Yet the main drivers of the recent turbulence in markets have been in place since last year.

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Infrastructure demonstrates its defensive ability

Copyright: Austrini. CC BY 2.0

Performance

The strategy has now been running for 77 months.  November provided some breathing space to markets after a very challenging October. The strategy rebounded, up 1.7% for the month, in-line with US stocks, but well ahead of the Eurostoxx 50 which was down 0.8% for the month. The S&P Global Infrastructure Index, the Infrastructure ETF’s and the major competitors all performed similarly to the strategy, gaining around 1.5%. Investment grade bonds were up 0.5%, and interest rate sensitive stocks gained, with the iShares International REIT ETF up 3.2% and the Dow Jones Total Market Utilities Index up 3.3%.  Year to date, the strategy is down -2.6%, whilst the average of the 7 largest competitors is -6.7%, the S&P Infrastructure index is -10%, the Stoxx50 is -9.4%, the S&P 500 is up 2.7% and the MSCI World LC is -2.3%.

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