Q3 2019

10 EU BUSINESS NEWS / Q3 2019 , Building an Independent View Bolero Capital Sàrl is an independent research firmproviding global macroeconomic analysis and financial markets research on behalf of third parties. Earlier this year, the firm found success in the Benelux Business Awards 2019 where they were selected as the Best Independent Financial Research Firm2019. On the back of this win, we caught up with FoundingManaging Director, Marie-Christine Lambinwho provided us with a glimpse into the innerworkings of the successful company. Since its inception, Bolero Capital Sàrl has consistently delivered insightful investment conclusions and asset allocation based upon a deep analysis of the world economic environment. By combining qualitative and quantitative analysis of the different asset classes, Bolero Capital Sàrl has used this information to determine the optimal construction of a portfolio in terms of risk/reward without limitation to country, sector, market capitalization and credit. Going into further detail, Marie- Christine begins by informing us more about the firm as well as the key differentiators which sets them apart from their competitors in the industry. “Here at Bolero Capital Sàrl, we believe that the recognition of the economic environment, which includes the outlook for interest rates and corporate earnings growth, together with the valuations of assets should drive the composition of a portfolio. The different phases of the economic cycle also require different asset classes and we are proud to be flexible enough to adapt to changing market conditions. “Our expertise is global asset allocation. Although we are keen to recommend a diversified and well-balanced portfolio, we are also more than happy to suggest a riskier portfolio on request. Overall, we are rather agnostic about style (value vs growth), Dec18517 Jul19001 as such we like to recommend sector/companies with above average growth prospects albeit a reasonable price.” Working behind the scenes to deliver these award-winning, personalised services, is the talented, innovative and hard- working team which forms the backbone of Bolero Capital Sàrl. With an internal culture based upon independence, convictions and flexibility, Marie-Christine is keen to highlight how the team is equipped and prepared to provide their clients with an outstanding service. “At Bolero Capital Sàrl, we provide information on the global economic environment, as well as quantitative and qualitative research on a wide range of asset classes. Alongside this, we also use technical analysis as an overlay to improve the timing of our investment proposals. “The objective is to capture investment opportunities around all asset classes and countries to recommend an optimal portfolio that best fit the prevailing economic and financial environment, with the aim to generate long term capital gain with a moderate risk. We like to minimize the specific risks related to a company through a portfolio invested predominantly in active funds and exchange traded funds (ETFs). Over the years, we have proven that we are quick to adapt to changing market conditions. A reversal in macroeconomic indicators, deterioration in sector and/ or company fundamentals, deterioration in credit metrics, valuations significantly above historic norms, as well as increased volatility in the markets are the main triggers for us to reduce the risk profile of our recommended portfolio, and vice versa.” Looking ahead to what the future holds, Marie-Christine has noticed that investors requested more and more ESG (Environmental, Social, Governance) factors to set up their investment decisions. As a result, she has started to consider introducing these criteria as part of Bolero Capital Sàrl’s research but not an objective. Bringing the interview to a close, Marie- Christine signs off by envisioning the challenges which may occur in the years to come and reveals how the team at Bolero Capital Sàrl will overcome any of obstacles. “In the coming years, fundamental research will face enormous challenges from Artificial Intelligence (AI) and disruptive technology. We will continue to carefully evaluate the fundamental outlook for the economy and the companies, however we will likely concentrate more on a limited number of high convictions opportunities as we will not be able to compete with AI and their millions of data. Balancing a portfolio of secular growth companies with their disruptive competitors could be a good hedge. Lastly, one of the most important challenges will be to correctly identify secular shifts underway in industries globally and investing in the leading companies best positioned to benefit from them.” Ultimately, the Bolero Capital Sàrl team will continue to deliver their impeccable service to clients which ensures that they deliver a result which achieves the desired outcome. Moving forward, the team hopes to further expand the business, their presence and the services that they offer, especially following their recent success in the Benelux Business Awards 2019 where they were righteously awarded the accolade Best Independent Financial Research Firm 2019. Company: Bolero Capital Sàrl Name: Marie-Christine Lambin Address: 92 rue du Kiem Telephone: +352 621 35 47 24 Web Address: www.bolerocapital.com