{"id":10891,"date":"2021-05-25T10:58:00","date_gmt":"2021-05-25T08:58:00","guid":{"rendered":"http:\/\/www.clgj9277.odns.fr\/?p=10891"},"modified":"2023-10-26T11:04:07","modified_gmt":"2023-10-26T09:04:07","slug":"rendement-protection-et-liquidite-les-avantages-de-la-strategie-short-duration","status":"publish","type":"post","link":"https:\/\/anaxis-am.com\/fr\/rendement-protection-et-liquidite-les-avantages-de-la-strategie-short-duration\/","title":{"rendered":"Rendement, protection et liquidit\u00e9, les avantages de la strat\u00e9gie Short Duration"},"content":{"rendered":"\n
L’un des meilleurs couples rendement \/ risque<\/h3>\n\n\n\n
Les march\u00e9s financiers ont connu ces derni\u00e8res semaines un regain de crainte sur les taux, notamment aux Etats-Unis sur la partie longue de la courbe, et en Europe dans une moindre mesure. Les hausses de taux nous rappelle \u00e0 quel point il peut \u00eatre d\u00e9licat pour les investisseurs de d\u00e9tenir des obligations long terme. Notre fonds Anaxis Short Duration apporte une solution avec son concept et sa strat\u00e9gie dans le contexte macro\u00e9conomique actuel.<\/p>\n\n\n\n
La strat\u00e9gie Short Duration offre trois grands avantages, trois raisons pour lesquelles il est pertinent de l’envisager dans une allocation d’actifs :<\/p>\n\n\n\n
1) L’un des meilleurs couples rendement \/ risque. Ce segment de l’obligataire offre un rendement attractif par rapport au risque, au sens duration du terme. C’est particuli\u00e8rement le cas en comparaison avec le segment Investment Grade et les obligations souveraines.<\/p>\n\n\n\n
2) La protection. Ce segment offre une protection en cas de baisse des march\u00e9s actions et obligations, notamment dans le cas d’un choc sur le cr\u00e9dit ou sur les taux.<\/p>\n\n\n\n
3) La liquidit\u00e9. Notre strat\u00e9gie Short Duration se concentre sur le segment de notation BB, constamment recherch\u00e9 par le march\u00e9. Les Bid \/ Ask sont serr\u00e9s et les \u00e9missions de taille cons\u00e9quente (en moyenne sup\u00e9rieures \u00e0 500 millions d’euros).<\/p>\n\n\n\n
Une strat\u00e9gie plus r\u00e9siliente que l’Investment Grade<\/h3>\n\n\n\n
En comparant les couples rendement \/ risque sur la classe d’actifs, le segment Investment Grade a le d\u00e9savantage, apr\u00e8s un cycle de baisse des taux de 10 ans, d’embarquer une duration \u00e9lev\u00e9e (plus de 5 ans) et d’afficher des rendements proches de z\u00e9ro. Cela cr\u00e9e une forte asym\u00e9trie dans le profil, avec un risque sur la duration.<\/p>\n\n\n\n
Le segment Short Duration Haut Rendement se comporte non seulement mieux que l’Investment Grade, mais aussi que l’univers Haut Rendement non contraint par sa duration. Les donn\u00e9es sont notamment spectaculaires aux Etats-Unis. C’est la raison pour laquelle nous sommes heureux d’aller chercher de la diversification en dehors de l’Europe pour notre fonds. L’Europe reste cependant la zone majoritaire dans le portefeuille, par choix et contrainte de prospectus.<\/p>\n\n\n\n
Au 21 mai 2021, notre portefeuille Anaxis Short Duration offre aux investisseurs un rendement moyen en euros de 2,42%. La duration est faible, \u00e0 1,69 ann\u00e9e, et le portefeuille bien diversifi\u00e9, avec environ 168 \u00e9metteurs diff\u00e9rents.<\/p>\n\n\n\n
Les march\u00e9s financiers ont connu ces derni\u00e8res semaines un regain de crainte sur les taux, notamment aux Etats-Unis sur la partie longue de la courbe, et en Europe dans une moindre mesure. Les hausses de taux nous rappelle \u00e0 quel point il peut \u00eatre d\u00e9licat<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_theme","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-10891","post","type-post","status-publish","format-standard","hentry","category-fonds"],"acf":[],"yoast_head":"\n
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