Asset Allocation & Investment Advice

We believe that asset allocation is the cornerstone of long-term value creation.

We have an opportunistic investment approach and only invest when the situation so warrants: we do not have a predefined allocation model.

We offer a broad range of asset management services, including asset allocation, investment strategy, financial asset management (discretionary and advisory management) and reporting.

Our clients may choose to work with Massena under a discretionary management agreement or in the form of investment advice. These two options are not mutually exclusive.

Asset Allocation

Developed according to various macro-economic scenarios, asset allocation is the main driver of long-term financial success. Many academic studies have shown that a wise choice of allocation determines 80 to 90% of a portfolio’s performance.

In a context of financial repression with extremely low interest rates, the investment business is becoming increasingly complex.
Asset allocation must factor in all the risks incurred, including market, credit, operational and liquidity risks.

It must be adapted to the holding period, to future plans, to the capacity to take risks (volatility), and to the target return.
After integrating the global economic situation and the specifications of each investor, we develop a medium- and long-term investment strategy including both listed and unlisted assets.

Massena is fortunate to have a stable investor base, many of whom have been faithful to the company since the outset. Maintaining capital has always been our key concern and forms the cornerstone of our management approach.

Listed assets

Depending on the geographical area and sector, investments are made either directly in securities, or by appointing specialized teams, or through funds (unit trusts, mutual funds). Exchange Traded Funds (ETF) may occasionally be used for tactical investments.

  • Traditional listed assets: equities (European and international), bonds (from government to high yield bonds).
  • Hedge funds: access to the industry’s best-in-class managers and an offer tailored to client needs
  • Commodities: gold (physical or paper), gold mining stocks, oil, etc.
  • Niche investments under specific strategies: securitized assets, perpetual bonds, reinsurance strategies, etc.
  • Structured investments: we select the investment theme while paying particular attention to the choice of underlying companies and the quality of the issuer. We systematically organise a call for tenders to improve pricing for the benefit of our investors.

Unlisted assets

Massena has over 20 years’ experience in unlisted assets and has completed more than 60 investments.

Through its sister company Essling Capital, Massena has access to a team exclusively dedicated to private equity, active across all unlisted asset classes: LBO, real estate, debt, co-investment funds, etc.

To meet the needs of our French or non-resident investors, at Massena we have developed extensive expertise in legal and fiscal structuring (family holding company, domiciliation and fund administration, dedicated and collective investment vehicles, etc.) in France as well as in Luxembourg and Belgium.

For more information on our investment solutions,
please contact us at e.contact@massena.fr