In addition to the 4 strategies developed by DECALIA (market inefficiencies in Europe, quest for yield, new consumer trends and disintermediation in the banking sector), DECALIA Asset Management SIM has developed the “theme investing” strategy explained herebelow. For more information about the other DECALIA strategies, please refer to the page “Our strategies“.
Our “Theme Investing” strategy dynamically focuses on 8-12 long term and uncorrelated investment themes, selected after a thorough analysis of macro-economic trends – whether actual or potential – in different sectors of the economy. Investment themes can be industrial, geographical or macroeconomic. For each theme, we opportunistically select financial instruments (equities, bonds, derivatives, funds, hedge funds. ETFs) worldwide that offer the best long-term risk-return perspectives.
As we invest with a medium to long term perspective, we adopt a “patient” attitude when we buy or sell. This allows us to wait until prices overestimate or underestimate the individuated underlying economic trends of each theme. We occasionally hedge our risk exposure and regularly hedge currency exposure.
Our current investment themes are :
- US biotech companies
- Agricultural industry products and services suppliers
- Emerging markets sovereign debt
- Development of domestic consumption in Emerging Countries
- “In vitro” diagnostic products and systems suppliers
- Companies active in the maintenance, development and upgrade of the US electric grid
- Competitive devaluation of the Yen
- Cable manufacturers
- Dry bulk shipping
- Expecting higher yields on 30-yr US Treasuries
- Commercial aerospace suppliers
This strategy is implemented in the Thema Fund.