Philippe Cordonier

CBH is an active, long-term manager which performs in-house and allocates assets based on a comprehensive global macro-economic outlook. The firm's investment committee reviews the macroeconomic situation, financial results and technical configurations to understand financial markets and appraise the potential of various asset classes, sectors and regions. The committee makes decisions regarding asset allocation, sectors, hedges, bond segments and maturities. CBH favors traditional investment classes over speculative asset classes, only investing in instruments for which they have a deep understanding and that they control. They believe that diversification is an essential condition, but exercise caution not to translate that into excessive dilution. They operate within an open architecture to identify the best products outside the bank and utilize technical analysis to improve timing decisions.