investment viewpoints

    TerreNeuve Outlook 2019

    TerreNeuve Outlook 2019
    Arnaud Langlois - Portfolio Manager

    Arnaud Langlois

    Portfolio Manager

    In this year’s outlook, we share our views on a number of macro themes which we think will be highly relevant to the strategy in 2019.

    Last year proved to be challenging for financial markets but we continue to approach 2019 with unwavering optimism about the opportunity set for our strategy and excitement about the task ahead. We have observed a number of interesting trends that have begun to play out in 2019 and will likely continue to shape markets over the rest of the year.

    In our 2019 Outlook, we provide a general overview of the themes underpinning our stock selection, discuss relevant macro and other salient top-down inputs and share a few thoughts on technical aspects of the market.

    Themes which we think offer particularly rich investment opportunities for our strategy include plastic and the future of packaging, the risks and opportunities presented by air pollution, the potential of the hydrogen economy, and the forthcoming disruption from new regulation and technologies in agriculture.

    In terms of macro factors, we are focused on Emerging Market currencies and sterling, the downward trajectory of bond rates, and the potential for a strong rally in the commodities space.

    We believe there are investment opportunities abound in our sectors for whoever dares to think and look beyond the next quarter. Our 2019 outlook will give investors a good sense of some of the things that matter in the TerreNeuve Strategy for 2019 and beyond.

    Download the Outlook 2019

    important information.

    For professional investors use only
    This document has been prepared by Lombard Odier Funds (Europe) S.A. and is issued by Lombard Odier Asset Management (Europe) Limited, authorised and regulated by the Financial Conduct Authority (the “FCA”), and entered on the FCA register with registration number 515393
    Lombard Odier Investment Managers (“LOIM”) is a trade name.
    This document is provided for informational purposes only and does not constitute an offer or a recommendation to purchase or sell any security or service. It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful. This document does not contain personalized recommendations or advice and is not intended to substitute any professional advice on investment in financial products. Before entering into any transaction, an investor should consider carefully the suitability of a transaction to his/her particular circumstances and, where necessary, obtain independent professional advice in respect of risks, as well as any legal, regulatory, credit, tax, and accounting consequences. This document is the property of LOIM and is addressed to its recipients exclusively for their personal use. It may not be reproduced (in whole or in part), transmitted, modified, or used for any other purpose without the prior written permission of LOIM. The contents of this document are intended for persons who are sophisticated investment professionals and who are either authorised or regulated to operate in the financial markets or persons who have been vetted by LOIM as having the expertise, experience and knowledge of the investment matters set out in this document and in respect of whom LOIM has received an assurance that they are capable of making their own investment decisions and understanding the risks involved in making investments of the type included in this document or other persons that LOIM has expressly confirmed as being appropriate recipients of this document. If you are not a person falling within the above categories you are kindly asked to either return this document to LOIM or to destroy it and are expressly warned that you must not rely upon its contents or have regard to any of the matters set out in this document in relation to investment matters and must not transmit this document to any other person. This document contains the opinions of LOIM, as at the date of issue. The information and analysis contained herein are based on sources believed to be reliable. However, LOIM does not guarantee the timeliness, accuracy, or completeness of the information contained in this document, nor does it accept any liability for any loss or damage resulting from its use. All information and opinions as well as the prices indicated may change without notice. Neither this document nor any copy thereof may be sent, taken into, or distributed in the United States of America, any of its territories or possessions or areas subject to its jurisdiction, or to or for the benefit of a United States Person. For this purpose, the term "United States Person" shall mean any citizen, national or resident of the United States of America, partnership organized or existing in any state, territory or possession of the United States of America, a corporation organized under the laws of the United States or of any state, territory or possession thereof, or any estate or trust that is subject to United States Federal income tax regardless of the source of its income.
    Source of the figures: Unless otherwise stated, figures are prepared by LOIM.
    Although certain information has been obtained from public sources believed to be reliable, without independent verification, we cannot guarantee its accuracy or the completeness of all information available from public sources.
    Views and opinions expressed are for informational purposes only and do not constitute a recommendation by LOIM to buy, sell or hold any security. Views and opinions are current as of the date of this presentation and may be subject to change. They should not be construed as investment advice.
    No part of this material may be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorised agent of the recipient, without Lombard Odier Asset Management (Europe) Limited prior consent. In the United Kingdom, this material is a financial promotion and has been approved by Lombard Odier Asset Management (Europe) Limited which is authorised and regulated by the Financial Conduct Authority.
    ©2019 Lombard Odier IM. All rights reserved.

    downloads.

    related insights.

    related content.