Guillaume Senger’s Post

The first quarter of 2024 was the best for equity markets in 5 years. What is explaining this positive performance and even more important…is this sustainable? Are there still opportunities for long term investors ? The answer below in the latest version of our blog👇 AG Insurance and Ageas, #supporter of your #investments

#IntesaSanpaolo reports record net income of €7.2 billion for the first nine months of 2024—up 17% from last year. In Q3 alone, we achieved €2.4 billion in net income, led by robust growth in net interest and commission income. We’ve updated our outlook: for 2025, net income is now projected at around €9 billion, with 2024 guidance confirmed at over €8.5 billion. Our investment strategy continues to focus on people and technology—foundations that secure our position for both immediate and future growth.

#MarketWhispers Sectoral vs. Diversified Funds: Navigating the Balance Between Risk and Reward Mutual funds, the choice between sectoral and diversified funds is one of the most important decisions. Distinct opportunities, unique risks. Understanding is key to building a portfolio Sectoral Funds: High Risk, High Reward Sectoral funds focus on specific industries like infrastructure, technology, or healthcare. They allow investors to capitalize on growth trends in these sectors, but they come with significant risks. In 2023, sectoral funds gained massive traction among Indian retail investors. For example, the HDFC Defence Fund delivered 60% returns over a year, while the ICICI Prudential Infrastructure Fund grew by 43%. These returns are undeniably attractive, but they come with increased exposure to concentration risk. Advantages of Sectoral Funds Targeted Exposure: Investors can ride the wave of sectoral growth trends. For instance, the infrastructure sector boomed thanks to increased government spending on projects like railways and energy transition. Potential for High Returns: When sectors perform well, returns can significantly outpace diversified funds. Disadvantages of Sectoral Funds Volatility: Sector funds are more vulnerable to shocks, regulatory changes, and cyclical downturns. Timing Dependency: Retail investors often enter these funds after the initial growth, reducing potential gains. Sectoral funds should be seen as a high-octane addition to a portfolio, offering opportunities during industry booms but exposing investors to substantial risk during downturns. Diversified Funds: Stability and Growth Diversified funds invest across multiple sectors, spreading risk and providing consistent returns. They serve as the foundation of a stable portfolio. Advantages of Diversified Funds Risk Mitigation: By investing across sectors, diversified funds reduce the impact of underperformance in any one area. Consistency: These funds are less volatile and more suitable for long-term financial goals. Disadvantages of Diversified Funds Lower Peak Returns: Diversified funds often underperform sectoral funds during industry-specific booms. Finding the Right Balance For most investors, a mix of diversified and sectoral funds is ideal. Diversified funds provide stability, while sectoral funds can add high-growth opportunities to the portfolio. The key is to allocate thoughtfully, based on individual risk tolerance and market conditions. Final Thoughts Sectoral funds offer the allure of high returns, not without risks. Diversified funds, on the other hand, offer steady growth with reduced volatility. Retail investors should use sectoral funds sparingly and as a complement to a diversified portfolio, ensuring their investments align with both market trends and personal financial goals. By balancing these two, investors can navigate market cycles more effectively and build a portfolio that delivers both growth and resilience over time.

In L'AGEFI, our colleague Thomas Dilasser emphasizes the importance of a holistic approach in credit analysis for young, fast-growing companies. Beyond bold visions, credit analysts look for stable cash flows, financial stability, and ESG practices to ensure long-term success. Balancing ambition with financial health is key to sustainable, responsible growth. Read more: https://lnkd.in/gdzf5RNV #EthiFinance #DebtFinancing #CreditRisk #HighGrowthStartups #LAgefi

Mediobanca Group Results - The #WealthManagement Division, of which RAM Active Investments forms part, made a significant contribution to the record results posted by the Mediobanca Group in FY 2023-24, year 1 of the 2023-26 Strategic Plan #OneBrandOneCulture. TFAs totalled approx. €100bn (up 13% YoY), on the back of NNM which are consistently above market average and consisting primarily of indirect funding (€9bn) which is at best sector levels. Record performances at both top- and bottom-line levels, with revenues up 13% YoY to ~€925m, and net profit up 27% YoY to ~€210m. The division's growth has led to excellent progress being made on the Strategic Plan objectives, with Wealth Management, helped by the synergies developed between distribution networks and product factories, the leading contributor to Group fee income (more than half the total) and the second contributor to Group total revenues.

👏 Thank you very much Loan Market Association (LMA) for giving us the opportunity to present our proposal Sustainable Supply Chain Finance (#SSCF) in your #SustainableFinanceConference #2024. 🚀 It was a pleasure to be able to share our #innovative initiative and to have the presence of two leading figures such as José Luis Blasco and Dr. Niki Hutson on the panel. Thank you for your insights and valuable support. 📢 I want to share a summary of our proposal: From Sustainable Finance CaixaBank we want to promote the #Sustainability of our clients through Financing solutions. We have innovated to provide our clients efficient solutions in all the financing products, including #SupplyChainFinance.   Traditionally, the market has offered #SSCF (Sustainable Supply Chain Finance) solutions either based on a #Green or #Social use of proceeds, where traceability is unusual in this type of product, or through an #SLL structure linked to KPIs based on the #LMAPrinciples. These structures presented a relevant limitation, since they are linked to the performance of the #Client and not to the #Suppliers who are the ones that receive the incentives or penalties in its price.   Some companies and entities began incorporating the measurement of supplier performance based on external rating providers, a very expensive solution with limited coverage in terms of the rated universe.   At the beginning of 2024, #CaixaBank proposed #LMA to jointly promote an initiative that would solve the 3 main #limitations that are blocking the growth of this type of financings: 🔔 1st: Change the focus of measurement from Clients to Suppliers, the true protagonists of this financing; 🔔 2nd: Cover a universal scope (no supplier should be left out of the score due to size or geography); & 🔔 3rd: Provide simple and automatic access through the platform where the bank interacts with Clients and Suppliers involved in these deals.   LMA encouraged us to develop this initiative and published this article that in #LMAHorizons last June, which generated a high interest from different stakeholders and has served as the basis for the #SSCF product that we will launch in the near future. 📢 LMA Horizons June 2024: https://lnkd.in/dxvVXU-k With this solution we solve the three points described above, offering a comprehensive solution with an innovative double approach: 📌 1st: We support #Clients to measure the performance of their Supply Chain with total granularity, helping them to identify areas for improvement and promoting the sustainability of their supply chain; & 📌 2nd: We encourage #Suppliers to improve their ESG performance by incentivizing them with better financing conditions according to their individual performance and facilitating them access to their scoring.   We aim to promote this structure as a #benchmark with #LMA and its #members and push the financing market towards there.

DBS has provided CapitaLand Development (CLD) with a pioneering SGD300 million sustainability-linked loan (SLL), alongside another SGD300 million from another bank. These SLLs are among the first of their kind to be aligned with both WELL Certification for human well-being and Green Mark certification for environmental sustainability, across a selected real estate portfolio. This landmark financing underscores DBS' and CLD's joint commitment to sustainability and breaks new ground by combining health and environmental performance targets. The SLLs link financial incentives to CLD's achievement of sustainability milestones, including enhancements to the well-being of building occupants and environmental efficiency of the developer's portfolio. Giovanni Cossu, Head of Sustainability at CLD, stressed the broader impact of this financing strategy, “The SLLs exemplify our commitment to developing spaces that prioritise environmental sustainability, and also the health and wellbeing of occupants. By embedding health and green performance targets into our financial framework, we are reinforcing CLD's leadership in sustainable development, while aligning with Singapore's vision for net-zero and healthier communities.” “Amid a growing emphasis on sustainable development in the region, developers are looking to deliver spaces that are both good for the environment and the people that use them. We are honoured to have advised CLD on this innovative loan structure which links performance to both the WELL and Green Mark Certifications. This demonstrates how sustainable financing can be a powerful driver of change for the real estate segment," said Chong Lim Chew, Managing Director & Group Head of Real Estate & Shipping, Aviation, Logistics & Transportation, Institutional Banking Group at DBS. This landmark project is a testament to DBS' commitment to supporting sustainable development and highlights our role in driving positive change in the built environment. Read more about the SLLs here: https://go.dbs.com/4ejKPuN Add our strength to yours. #AddOurStrengthToYours #DBSCorporateBanking #RealEstate #GreenFinance

Mutual funds in spotlight: Industry grew at 23.65% CAGR since March 2021 https://lnkd.in/dNAAi9XU #india #mutualfunds #industry #investing #cagr #retail #sips #fiis #savings

#DemocratisationOfFinancialPlanning📱 #FinancialExpertiseAtScale🤝 #BiDimensionalGrowth🚀 #€1.000.000.000+💫🌳💫   We are committed to helping our customers do systematically more with their money.🧩🌳 I am very happy that thanks to our strategy we are able to do to in continuously higher pace.📱🚀 📈 The figures speak for themselves… 📈 …Raiffeisen Asset Management (RAM) has exceeded the €1 billion threshold in total #assets under management across 13 investment funds and the Raiffeisen Acumulare voluntary pension fund.🚀⭐️   📈 …The number of #clients investing in funds managed by RAM has also increased by more than 30+% since the beginning of the year, now reaching more than 95,000+.🚀🤝🚀 These #extraordinary #results show that our two-dimensional organic growth strategy is effective. We want to expand our scope, systematically offering all financial consulting services.📱🎯📲🚀   Big congratulations to Mihail Ion and to Adrian Negru for their leadership on this way, and extra big congratulation to #all Raiffeisen Bank Romania #teams 💛 for systematically helping our clients build more stable financial future, and for getting better and better in this👏🌳🙏. #FocusOnExpertise🎯 #DigitalAtScale🚀 #TransformationAtScale🧩

More than 2 in 5 businesses in Southeast Asia are prioritising the digitisation of their operations, according to a recent HSBC survey. To support the region’s booming digital economy, we recently launched a USD1 billion #ASEAN Growth Fund. Learn more from Amanda Murphy in FinanceAsia on how the first-of-its-kind fund will support platform players as they expand in the region and beyond. https://grp.hsbc/6048wsMAu #HSBCASEAN #ASEANInternationalBank #innovation #growth #businessgrowth