The asset manager is finally judged on the performance of his management of the securities in the portfolio entrusted to him by the management mandate. The performance is of course correlated to the risks of the underlying assets.

Given the historically low interest rate environment and the trend towards higher capital requirements for loans, investors, particularly in Europe, will continue to suffer in the short term.

Securitised sub-funds represent a relevant alternative and diversified offer to boost portfolio performance.

What is more, this arbitrage carried out by the manager remains, thanks to the sub-fund's ISIN code, as an additional line in the managed portfolio.