A break for progress?

The re-election of Donald Trump to the American presidential election is reshuffling the geopolitical and economic maps globally. Naturally, investors need to adapt by adjusting their asset allocation. What are the recipes for building a successful portfolio in 2025? What place should be reserved for American or European equities, corporate debt and unlisted assets in a context of falling rates in the eurozone?

In France, governmental instability and the fiscal trajectory call into question the place occupied by French debt in relation to other sovereign debts in portfolios. Which government bonds should be preferred today?

Political news is also impacting the theme of sustainable finance. Will advances in ESG pay the price of the demand for regulatory simplification, especially in the European Union? How are institutional investors reacting to this new paradigm in order to assess social and governance issues? On the contrary, will they find an opportunity to broaden their investment horizon, for example by financing the defence sector? And for those most committed to the digital transition, how to integrate the impacts of generative AI?

To answer these questions, I look forward to seeing you on June 12 at the Hotel Shangri-La in Paris for the AGEFI Institutional Day, which now includes two major events, the Institutional Investors Forum in the morning and the ESG & Impact Investing Forum in the afternoon. This day of discussions will bring together major French investors and the best experts. And to open the discussion, AGEFI and AF2I will unveil in advance the main conclusions of the annual survey on French institutional portfolios.

Alexandre Garabedian

Editorial director of AGEFI

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