Philippe Setbon

GIF is a value-oriented manager which first follows a top-down approach to select undervalued equities with potential to produce superior returns. The firm's equity fund managers then follow a collective process to construct equity fund portfolios by stock-picking. For multifunds the firm utilizes a top-down approach to make an initial selection of funds and then selects stock from this universe to construct the fund portfolio. Fixed-income investments are selected following a macroeconomic analysis of markets and sectors, which are hedged with government and corporate bonds. GIF works closely with Generali Group's analyst and economists.

Groupama AM is an actively responsible, research-based manager which focuses on European equity and bond markets with specialist expertise in European large-caps and corporate investment grade bonds which aims to improve the risk/return ratio over the long term. For equities, the firm utilizes a bottom-up approach to select the most promising securities in line with market trends. Their fixed-income includes Eurozone or international sovereign debt, bonds indexed to euro or international inflation, investment grade credit management and aggregate asset management. Groupama AM offers short-term money market and bond funds tailored to the different cash needs of investors. An offer built to fully meet their main expectations on the asset class: low volatility, liquidity, regularity of performance.

Functions as a College/University

Acts as umbrella fund

NIM International is an active, growth-oriented, research-based manager which integrates top-down asset allocation with a bottom-up approach of sector weightings and stock selection. They define themselves as a global balanced manager with a strong focus on Europe and invest across asset classes. The firm has expertise in European equities, fixed-income global emerging equities and responsible investments.

Générali Gestion is an active, team-based manager which aims to obtain long-term returns with a reasonable level of risk. They manage portfolios through dedicated teams which specialize in different sectors and asset classes including European equities, fixed-income and advanced fixed-income in the context of yield, growth, small value and thematic strategies. The firm conducts medium-term fundamental analysis and macroeconomic research to help prepare scenarios for investment and asset allocation. They share research results among different centers of expertise to benefit all portfolios and all investors. Générali Gestion utilizes a comprehensive investment approach that analyzes macroeconomic indicators and the general political environment to assess their potential impact on major financial markets. Their fixed-income investment strategies include a range of different sources of alpha including interest rate risk, currency positions, positioning on the yield curve, relative value and credit analysis.

GTI France is an active manager which blends the tradition of the Generali Group with alternative investment experience. The firm selects hedge funds through a rigorous due diligence and continuous monitoring process, an integrated investment framework which integrates risk management in each stage of the investment process and in portfolio construction. They also offer tailor-made investment solutions and structured products and provide assistance in constructing customized hedge fund or structured product portfolios.

Provides investment services

Generali Investments France is an active manager which follows a risk-cautious, fundamentals-based approach in order to generate consistent, low volatility returns over the long-term and protect invested capital. The firm combines top-down and bottom-up inputs provided by in-house research teams. They first analyze macro-economic indicators and the general political environment to evaluate their potential impact on the main financial markets. Dedicated committees decide on the strategic asset allocation and provide short-term forecast on equity and fixed-income markets driving tactical allocation to be implemented by the portfolio managers who select securities based on inputs from proprietary bottom-up securities analysis, ESG screening and quantitative models. Their bottom-up research team covers mainly European, US and Asian companies, providing equity recommendations and internal credit ratings to portfolio managers, who combine the positive aspects of equity analysis (expectations on revenues and profitability evolution) and credit analysis (debt distribution and cash flows) to analyze companies in an organic manner and identify the financial instrument with the most attractive risk/return profile (equities, convertible bonds, corporate bonds). Risk management is fully integrated in the firm's investment process and provides daily inputs to portfolio managers along with ex-ante analysis (VaR, simulations, expected yield) and ex-post risk profile measurements (tracking error and tracking error volatility, turnovers, risk and return ratios). A risk platform runs various analyses including stress testing, VaR measurement, risk sources analysis, delta adjusted market exposures and sensitivities.