Annual Report 2017

Rothschild & Co | Annual Report 2017

Rothschild Private Wealth & Asset Management

Rothschild Asset Management

Rothschild Asset Management is a global specialist asset manager delivering

bespoke investment management and advisory services to institutional clients,

financial intermediaries, and third-party distributors.

Rothschild Asset Management offers an independent perspective in innovative investment solutions, designed around

the needs of each and every client. Across its complementary fields of expertise in active high-conviction management

and open architecture investment solutions, its business model is grounded in deep understanding of each and every

client’s needs.

Rothschild Asset Management – Europe

In 2017, following the merger in France of Rothschild & Cie Banque and Banque Martin Maurel, the complementarity

of the management teams of the two entities allowed us to build a global offer in terms of management expertise and

investment solutions through the newly created entity Rothschild Asset Management.

Our management expertise

Rothschild Asset Management – Europe offers a range

of complementary funds, conviction-based strategies to

seize investment opportunities in various asset classes.

We offer assertive, selective and diversified conviction-based

strategies in all asset classes (Equities, Fixed Income,

Convertible Bonds, Diversified Management, etc.), sectors

and geographical areas.

Our portfolio construction and stock-picking are based on

an in-depth fundamental analysis of the economic cycle and

valuation of all assets – both Equities and Fixed Income. Fund

managers take strong investment decisions to be able to

achieve significant outperformance compared to traditional

indices. Portfolios reflect the investment management teams’

strongest convictions, which are sometimes at odds with the

consensus. Our teams seek out attractive risk premiums and

make opportunistic investments.

In this way we target robust medium-/long-term

performances, regardless of the market environment,

throughout the economic cycle. We implement our

capabilities in Equities, Fixed Income, Diversified

Management, Thematic Investments, and Small & MidCaps.

In 2017, our fund range performed very well, whether fixed

income, equity or diversified strategies, thanks to their low

bond yield sensitivity, the strength showing by peripheral

bonds, the outperformance by equities, and a good

stock-picking. The current macroeconomic environment

points to a continuation in this trend, which could show

up even more clearly in our equity portfolios if large caps

were to outperform small caps.

€15.6bn

of assets

managed by

Rothschild Asset

Management

– Europe

US$10.6bn

of assets

managed in

New York (€9bn)

• Best Asset Management

company – 1 year