Global optimal income
Combining asset classes to seek capital growth in any market condition.
The opportunity
Different macro environments call for different asset classes. At times of growth, investors may look to higher risk assets such as equities, emerging market debt and high yield. While, when there are concerns over recessions, bonds, gold and cash may offer safe haven solutions.
To seek the best risk-adjusted returns, we believe that investors need to diversify and dynamically allocate across and intra asset classes.
Today, in an ever-changing investment landscape, the ability to be flexible across asset classes should allow investors to take advantage of a wide range of market opportunities and adapt to changing market conditions.
Strategy highlights
Target opportunities offering capital growth
The strategy seeks to provide capital growth through the best asset class mix. We identify these opportunities using our three-step process that integrates our expertise across asset classes.
Optimised exposure through unconstrained approach
Our broad exposure across and within asset classes, enabled by an unconstrained approach, helps capture opportunities across the full market spectrum.
Mitigating risk through flexibility
With the freedom to pivot quickly, the strategy aims to adapt dynamically to changing macroeconomic environments, enhancing resilience and responsiveness.
Team and expertise
Our global multi-asset strategy sits within the Multi-Asset investment team and is managed by Laurent Clavel, who has 20 years’ industry experience. He is supported by Laurent Ramsemy, a senior portfolio manager with 18 years’ industry experience.¹
The strategy is managed using a robust process and leverages proprietary quantitative tools through an integrated team. The team also benefits from access to firmwide research and execution resources.
Investment risks
No assurance can be given that our investment strategies will be successful. Investors can lose some or all of their capital invested. Our strategies are subject to risks including, but not limited to: equity, emerging markets, global investments, investments in small and micro capitalisation universe, investments in specific sectors or asset classes specific risks, liquidity risk, credit risk, counterparty risk, legal risk, valuation risk, operational risk, and risks related to the underlying assets.
For a complete description and definition of the strategy’s generic and specific risks, please refer to the Prospectus and KID.
[1] AXA Investment Manager as of 30 September 2025
Important information
Marketing communication. For professional investors only.
Past performance or achievement is not indicative of current or future performance. Performance is calculated net of fees unless otherwise stated.
Any views expressed here are those of the author as of the date of publication, based on available information, and subject to change without notice. This material does not constitute investment advice.
Investments are subject to market fluctuations and the risks inherent in investments in securities. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment. There is no guarantee that the performance objective will be achieved.
Multi-asset sub-funds may be exposed to other risks defined below:
MARKET RISK: This is a general risk that affects all investments. Price for financial instruments are mainly determined by the financial markets and by the economic development of the issuers, who are themselves affected by the overall situation of the global economy and by the economic and political conditions prevailing in each relevant country
EQUITY RISK: The risks associated with investments in equity (and similar instruments) include significant fluctuations in prices, negative information about the issuer or market and the subordination of a company’s shares to its bonds. Moreover, these fluctuations are often amplified in the short term. the risk that one or more companies suffer a downturn or fail to grow can have a negative impact on the performance of the overall portfolio at a given time. There is no guarantee that investors will see an appreciation in value. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment.
CREDIT RISK: This risk relates to the ability of an issuer to honour its commitments: downgrades of an issue or issuer rating may lead to a drop in the value of bonds in which the sub-fund has invested.
LIQUIDITY RISK: This risk arises from the difficulty of selling an asset at a fair market price and at a desired time due to a lack of buyers.
COUNTERPARTY RISK: This risk is associated with the ability of a counterparty in a financial transaction to fulfil its commitments like payment, delivery and reimbursement.
OPERATIONAL AND CUSTODY RISK: Some markets are less regulated than most of the international markets; hence, the services related to custody and liquidation for the strategy in such markets could be more risky.
DERIVATIVES RISK: When investing in over-the-counter or listed derivatives, the fund aims to hedge and/or to leverage the yield of its position. The attention of the investor is drawn to the fact that leverage increases the volatility of the sub-fund.
CAPITAL RISK: The investments in the funds are subject to market fluctuations and the risks inherent in investments in securities. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay, the funds described being at risk of capital loss.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) INVESTMENT RISK: The lack of common or harmonized definitions and labels integrating ESG and sustainability criteria at EU level may result in different approaches by managers when setting ESG objectives. This also means that it may be difficult to compare strategies integrating ESG and sustainability criteria to the extent that the selection and weightings applied to select investments may be based on metrics that may share the same name but have different underlying meanings. In evaluating a security based on the ESG and sustainability criteria, the Investment Manager may also use data sources provided by external ESG research providers. Given the evolving nature of ESG, these data sources may for the time being be incomplete, inaccurate or unavailable. Applying responsible business conduct standards in the investment process may lead to the exclusion of securities of certain issuers. Consequently, the Sub-Fund’s performance may at times be better or worse than the performance of relatable funds that do not apply such standards.
This is not an exhaustive list of risks. For a full description of risks associated with each fund, please consult a client relationship manager or the global BNP Paribas Asset Management website: www.bnpparibas-am.com.