Sycomore Sélection Crédit

Sycomore Sélection Crédit invests in bonds issued by European SRI companies with no rating (Investment Grade, High Yield and Not Rated) or capitalisation size constraints. Bond eligibility is decided through proprietary ESG analysis of the investment universe. The fund focuses on non-financial companies. Financial companies cannot exceed 10%.

The fund posted strong returns as yields and credit spreads continued to ease. Lower-than-expected inflation readings in the United States were a catalyst for this move, allowing the market to foresee a potential slowdown in the Fed’s monetary tightening cycle. The quarterly earnings reported by investee companies reassured investors on their resilience given the current economic environment. The primary market was rather more active in November with some attractive issuances, including Faurecia which offered a coupon above 7% for a bond maturing in 2026. We continued to invest by focusing on the BBB segment, which is once more displaying attractive yields, thereby trimming our cash reserves. Having reduced the fund’s modified duration in recent months, the level has since stabilised as the outlook for interest rates has already factored in many monetary policy adjustments.

We would like to draw investors’ attention to the fact that the information available on this website is of a general nature and should not be construed as either adapted to the specific needs or circumstances of a given investor, nor as providing personal investment recommendations or financial advice.

The information available on this website is provided for information purposes only. SYCOMORE ASSET MANAGEMENT cannot be held liable for an investment or divestment decision made solely on the basis of the information provided herein. Although we believe the information made available on this website to be reliable, it should not be assumed to be exhaustive. SYCOMORE AM reserves the right to amend the contents on a discretionary basis and with no prior notice. If, despite the attention paid by SYCOMORE AM to the quality and timeliness of the information published on this website, some of the information is proved to be wrong or incomplete, SYCOMORE AM shall correct the situation as soon as possible but cannot be held liable for any errors, omissions or flaws that may be noted. Where necessary, you may report any flaws you have noted at the following address: info@sycomore-am.com.

We would like to remind investors that past performance is no guide to future returns and is not consistent over time. Our funds offer no yield or performance guarantees and carry a risk of capital loss. Before investing, please read the fund’s KIID available on our website www.sycomore-am.com or upon simple request from SYCOMORE ASSET MANAGEMENT. Our funds are offered to all investors and may be used in unit-based life-assurance contracts. The minimum investment horizon of each fund is indicated in its prospectus. The amount that is reasonable to invest in our funds will depend upon your personal situation. This can be determined by considering your personal wealth, current and future needs, and whether you are prepared to take on risks or prefer a cautious investment. We also highly recommend that you diversify your investments sufficiently to avoid exposing your capital exclusively to the risks associated with our funds.

The funds presented below are domiciled in France or in Luxembourg and may not be authorized for sale in your country. Each fund factsheet provides information on the countries in which the fund is registered. Units of our FCPs – which are Foreign Public Funds as per section 13 of the US Bank Holding Company Act – have not been registered or declared to the US authorities as per the US Securities Act of 1933. As a result, they may not be offered or sold, either directly or indirectly, in the United States or on behalf of a “US Person” as defined by the US regulation (Regulation S). In all circumstances, the user of the present site is responsible for ensuring beforehand that his or her connection to this website and access to the information contained herein is neither a failure to meet regulatory obligations, nor a regulatory violation on account of his or her own legal situation, particularly with respect to the national law applicable to the individual.

Track record

Stanislas de Bailliencourt

Emmanuel de Sinety

Tony Lebon

Ariane Hivert

Performance as of 09.28.2023

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Classification

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