French boutique Matignon Finance rebooted its 1990-launched alternative bond investment fund Saint-Philippe Obligations by reshuffling it entirely last December.
The fund is now branded Matignon Patrimoine and relies on a flexible approach. It could be exposed up to 70% to equities – primarily European large caps – and up to 100% to fixed income securities, including a maximum allocation of 50% to high yield bonds.
It also uses instruments such as futures and options for hedging or market exposure purposes as well as trend following strategies.
“The fund aims to be exposed to equity and credit risks primarily, with a low exposure to fixed income rates, an asset class for which our outlook is not positive for the coming years,” said Matignon Finances’ chief investment officer Olivier Cornuot, adding that the fund targets net returns of 4-5% over a four-year horizon with volatility under 8%.
Matignon Finances tallies around €300m of assets under management.