BL-Global Flexible - 2016 Positioning

BL-Global Flexible - 2016 Positioning

Asset Allocation Including various transactions in process, the fund's asset allocation as flollow: equities: 70% gold mining: 7.5% bonds: 15% cash: 7.5% This allocation is based on the following premisses: Scenario 1 : moderated but positive ...

Deflation: short series (2)

Deflation: short series (2)

In the first blog post of this series, we familiarised ourselves with deflation as the result of gains in efficiency and a supply-demand shock. We saw that inflation has very seldom occurred in western industrial economies in the recent past, thanks to shifts in consumer spending behaviour and central ...

Corporate debt: Glencore, VW, Petrobras…

Corporate debt: Glencore, VW, Petrobras…

Corporate defaults piling up The corporate default rate is at its highest level since 2009. In its latest study on 30 November (1) , Standard & Poor’s reported a sharp increase in the number of companies defaulting in 2015: 101 issuers reneged on their obligations. The last ...

Deflation: short series (1)

Deflation: short series (1)

A spectre is haunting the world, the spectre of deflation Open up a financial newspaper and you will see the word “ Deflation ” again and again in articles on the general economic situation, usually in combination with the words “fear”, “concerns” or “risk”. This negative association ...

Earnings growth? What earnings growth?

Earnings growth? What earnings growth?

The earnings season is coming to an end. Companies, especially in the United States, have become very adept at managing investor expectations and presenting their earnings in a way that makes it  hard to judge the quality of these earnings or even work out whether these have in fact increased, ...

Brazil and the Philippines: contrasting situation within emerging markets

Brazil and the Philippines: contrasting situation within emerging markets

A more difficult environment Following the 2008 financial crisis, emerging market debt enjoyed two years of positive performance. Since then, a number of factors specific to this asset class but also independent of it, have intervened to derail its progress. First there was the crisis of confidence ...

Situation on the stock markets

Situation on the stock markets

Since their recent record highs, the stock markets of developed countries have lost around 16% in euros. For emerging markets, the slump is closer to 30%. The slowdown in the Chinese economy and the Chinese authorities’ decision to devalue their currency are considered to be the main drivers of ...

Gold and our positioning

Gold and our positioning

Review of the gold market In the second quarter, the gold price was at its lowest since the first quarter of 2010 , averaging USD 1,194 per ounce. Since the end of June, it has fallen a further 7%. Various signs point towards a sell-out on the gold market : on the New York futures ...

Greece and China et cetera: update on our investment strategy

Greece and China et cetera: update on our investment strategy

After rising sharply in the first quarter of 2015, most equity markets fell back slightly in April . The surge in bond yields, the prospect of a tighter monetary policy in the United States, and uncertainties over the future of Greece as well as economic growth in China all contributed to investors' ...

About. The BLI blog features regular analyses and our points of view on the latest economic trends and developments on the financial markets.

OUR METHODOLOGY

BLI's investment management methodology consists of three steps: strategic asset allocation, tactical asset allocation and securities selection.

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