UK - BNP Paribas Asset Management has launched a global tactical asset allocation strategy to strengthen its offering for institutional investors seeking new sources of performance and diversification.
The GTAA will be managed by BNPP AM’s asset allocation team.
BNPP AM also launched a new product – the GTAA alpha fund – which embodied the new strategy. The fund aimed to combine several uncorrelated source of alpha and cover a broad scope of asset classes.
The fund had an annualised target return of 3 month Euribor +8% on a 3 to 5 year horizon and its target volatility was set at around 10%.
BNPP AM CIO Christian Dargnat said: “The returns from the GTAA strategy have a low correlation with returns of traditional and alternative asset classes. The fund invests in a wide range of developed markets and benefits from further diversification through exposure to emerging market equities and commodities.”
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