Stephane Berthet

Shaw and Partners is delighted to be involved in NexGen Energy Ltd. A$250m capital raise with the objective of raising the liquidity of the stock on the ASX. Earlier this year we initiated coverage on NexGen, which is progressing a development of the extraordinary Arrow uranium deposit at the Rook I Project in the Athabasca Basin in Saskatchewan in Canada. Once operational, this mine will produce around 30Mlb/yr of uranium, supplying about 15% of global demand. There were two interesting pieces of news this week in the global uranium market: 1) The US Senate has unanimously passed the bill banning US imports of Russian enriched uranium (currently about 25% of US supply), and 2) Cameco reported a disappointing loss of C$7m for its 1Q24 result and has disclosed ongoing production issues with its Unkai JV with Kazatomprom. The uranium market remains structurally under-supplied and desperately needs new sources of supply. #nuclearenergy #uranium #energytransition #decarbonisation

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From a macro perspective, the fundamentals are very good for private assets. With a trend towards #energytransition and digital infrastructure. Why is now a perfect time to invest in #RealAssets? Karen Azoulay, Head of Real Assets at BNP Paribas Asset Management, talks to European Pensions about this evolving asset class and the opportunities for investors. https://lnkd.in/eWNgjYKX

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In the news this week: China unleashes stimulus blitz to lift growth. Shaniel Ramjee, co-head of multi-asset strategy at Pictet Asset Management, explains why China’s raft of monetary policy measures and new programmes are much needed steps to support the property sector and stock market. #Pictet #Inthenews #China #MultiAsset

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What a turnout, many thanks to all participants that came to our annual event that we held on the 6th of June. Eric Sturdza Investments offered a whole range of answers when we welcomed our #international guests to our annual conference. We were #delighted to present a truly #international line-up of speakers: Louis-Vincent Gave from Gavekal and Raphaël Sobotka from Amundi , along with our own portfolio specialists Yutaka Uda, Shasha Li Mafli, Scott Utzinger and Eric Vanraes who shared insights into Japan's #economy, opportunities in #Asia, investing in owner-operators and the role of hybrid #bonds in a portfolio. Warren Giles Damir Zjacic Jerome Sack Nicolas Huras Jerome Papailhau Pascal Perrone Alexandre DERUAZ, CFA Ludovic LABAL David Haynal, CFA, CQF Alexis Bitz Oana Buscaneanu Bertrand DIDIER Louis Rieu Coges Corraterie Gestion Banque Eric Sturdza SA Eric Sturdza Management Company S.A.

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Prix Pictet, the world's leading prize for photography and sustainability founded by the Pictet Group in 2008, has announced 'STORM' as the theme of its 11th cycle. The partners of the Pictet Group created the Prix Pictet prize to draw worldwide attention to and stimulate action on issues of sustainability through the medium of photography. To date, there have been ten cycles of the award, each of which has highlighted a particular facet of sustainability. Commenting on the new theme, executive director Isabelle von Ribbentrop said: ‘ Storm’ is increasingly the default setting for our lives. We seem to be perpetually balanced on the edge of some momentous event. It is as if the next environmental, medical, social or political calamity is mere moments away. ‘ Storm’ is the dramatic expression of nature’s wild side, yet it is also the defining characteristic of our age.' Learn more about the Prix and its new theme: https://lnkd.in/geZ_VKd7 #PrixPictet

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Monthly views: Conditions remain favourable for equity markets overall but we trim exposure to tech stocks following their stellar run. Read the full article https://lnkd.in/eKPnexKB #assetallocation #investmentoutlook #barometer

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Interesting article today considering the potential unintended consequences of fund names requirements on green bond issuers. The concern is that a significant proportion of green bonds are issued by utilities which may need to be excluded from sustainable funds in line with EU PAB criteria…

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‘Mako Macro’ launches on trademakers - https://lnkd.in/eiRHkTKH - JP Fund Services, the Swiss investment advisors, have launched a new Macro investment strategy here on trademakers - the fractionalised investment platform... - foreign exchange,fractionalised investments,FX,Mako Macro

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If you’re interested to learn more about Guarantees of Origin markets, you should definitely watch the following video 👇

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What does the UK election result mean for markets? It is often noted that a week is a long time in politics, and with elections in the UK and France in recent days the expression has rarely been truer. With the UK results now clear, what conclusions can investors take? By Simon Gergel, CIO UK Equities at Allianz Global Investors #NavigatingRates #Elections #Politics #UK

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Exciting News from the Responsible Investment Brand Index! Today marks the launch of our 6th edition, analysing once more 600 asset managers globally on their ability to translate commitment to responsible development into their brand.   A special congratulations to DPAM, Candriam, UBS Asset Management, Nordea Asset Management, Pictet Asset Management, Amundi, WHEB, Impax Asset Management, Ecofy and Robeco for not only reaching the Avant Gardist Category but also breaking into this year’s Global Top 10! 🏆   Want to dive deeper? Download the full report here: https://lnkd.in/epUYw8z   Don’t miss our live launch webinar at 3 PM CET/Geneva today. Register now to join the conversation and learn more about this years results, Top 10 by Region and more: https://lnkd.in/dS4KNuMc   #ResponsibleInvestment #RIbrandIndex #AssetManagement

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We're thrilled to achieve 1st place in the UK and 7th globally in the Responsible Investment Brand Index released today. The index takes the view that genuine involvement in responsible investment is demonstrated in two ways: 1) via concrete actions such as committing to collective initiatives on sustainable development, or publishing proxy voting activity (‘Commitment measure’) 2) the intent that emanates from within asset managers through their brand, best seen in open and transparently communicated purpose statements and value systems that genuinely encourage the creation of greater societal value besides monetary returns (‘Brand measure’) WHEB's mission is to ‘to advance sustainability and create prosperity through positive impact investments’ and it is supported by a strong culture and core values that guide our behaviour. Read the full report for detailed and thoughtful analysis of today's responsible investing market. #responsibleinvesting #impactinvesting #missiondriven

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Green shoots emerge in the #convertiblebonds world, as corporates, looking to plug gaps in their business, exhibit a heightened appetite for #acquisitions. This trend is especially noticeable among companies who aren’t reliant on third-party financing. #convertibles

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About 20 years ago, Caslin published a significant paper on appraising hedge funds, highlighting their potential in pension fund portfolios. Fast forward to 5 years ago, we launched our hedge fund, mirroring these desirable traits: - Achieving a solid 16% CAGR (net) since inception, outperforming the best balanced fund in AF Global large manager watch. - Notably, our fund delivered positive returns in 56% of negative market months and 85% of positive market months. Interested in leveraging hedge funds to minimize volatility in your portfolio? Reach out to explore how blending the right hedge funds with your existing managers can benefit you. Learn more about the Caslin paper here: https://lnkd.in/gGBatR9g

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Monthly views: Conditions remain favourable for equity markets overall but we trim exposure to tech stocks following their stellar run. Read the full article https://lnkd.in/gacRKnua #assetallocation #investmentoutlook #barometer

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Pleased to see #BBGI and the #infrastructure sector highlighted by analysts and wealth managers on which sectors and #Investmenttrusts investors should favour in the #AssocationofInvestmentCompanies (#AIC) release “Which sectors and trusts could benefit from lower rates? Infrastructure, renewable energy and property offer most scope for gains.” #IainScouller, #Stifel: “The infrastructure funds’ share prices are highly correlated with the trend in the gilt market – we think gilt yields are likely to see a ‘new normal’ level closer to 4% than the sub-2% level during the pandemic. However, many of the trusts are currently yielding 6% to 7%, which will be relatively attractive if interest rates fall.” #MattHose, #Jefferies: “We think infrastructure and renewables, given their assets with long duration cash flows, will see improving valuations as rates come down. It will be the funds in these sectors with relatively lower discount rates that benefit in particular, because there is less of a risk premium buffer embedded in their discount rates. That means that lower interest rates will directly translate into lower discount rates for those trusts, increasing published NAVs.” #DanBoardman-Weston, #BRIWealthManagement: Infrastructure funds’ “…high levels of income and scope for recovery still make them an attractive part of portfolios.” #JamesWallace, #Winterflood: “We are currently recommending BBGI Global Infrastructure for core infrastructure exposure. The fund is trading at a 10.6% discount, which we think offers value relative to its 13.3% average premium over the past five years. We view the fund’s all-weather portfolio as a key positive during the current period of elevated macro uncertainty, as its portfolio features a ‘mechanical’ inflation linkage and contracted cash flows...BBGI is well positioned with sector-leading dividend growth of 6% year-on-year guided for 2024 and strong cash coverage of 1.4x. The fund’s strong track record is shown by the fact it has delivered dividend growth that has outpaced CPI since its IPO and the long life of its assets and defensive nature puts it in a strong position to outperform should interest rates decline.” Please see the full release here: Which sectors and trusts could benefit from lower rates?: https://lnkd.in/g5H5CAeP #BBGI #investmentcompanies #ftse250 #coreinfrastructure #income #growth

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Monthly views: Conditions remain favourable for equity markets overall but we trim exposure to tech stocks following their stellar run. Read the full article https://lnkd.in/egY7mzmZ #assetallocation #investmentoutlook #barometer

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