How can an investor best deal with the increasing speed at which geopolitical developments follow one another?
The first step is to accept that speed itself is now a permanent feature of the investment landscape, not a temporary anomaly. Geopolitical events, trade wars, military conflicts, political ruptures no longer unfold over quarters; they unfold over days. Portfolios built around a stable macro scenario and rebalanced at committee pace are structurally ill-suited to this environment. The answer is not to predict the next shock but to build resilience into the allocation itself: through genuine diversification across asset classes whose performance drivers are structurally uncorrelated, and through strategies capable of generating returns regardless of market direction, such as the Stork Fund managed by Cigogne AM.
Is there a smart way to make an investment portfolio more resilient to political shocks?
Resilience is not the same as defensiveness. A truly resilient portfolio does not simply reduce risk, it maintains the capacity to generate returns across a wide range of scenarios, including adverse ones. In practice, this means combining assets that behave differently under stress: instruments with a defined maturity and locked-in carry that are insulated from short-term volatility; real assets or commodity-linked equities that tend to appreciate precisely when confidence in paper currencies erodes; and alternative strategies that feed on market inefficiency and volatility rather than suffering from it. The common thread is that none of these rely on a benign macro-outcome to deliver. Should a shock occur and affect the yield curve, short duration strategies such as the La Francaise Carbon Impact Floating Rate are more likely to show resilience.
Are there specific developments in the second half of 2026 that investors should already be positioning for?
Three themes stand out. First, the structural re-rating of gold as a reserve asset, driven by sovereign debt excess and central bank demands a conviction expressed in our range through CM-AM Global Gold & Precious. Second, the opportunity to lock in attractive credit carry before rate conditions shift, with a defined horizon and declining interest rate sensitivity, addressed by La Française Rendement Global 2028, still open to subscription. Third, the growing case for liquid alternative credit strategies in an environment where traditional asset class correlations are proving unreliable, for which Cigogne Asset Management's Stork Fund offers a twenty-year track record of arbitrage expertise.
This marketing document is intended for professional investors and distributors within the meaning of MiFID (2014/65/EU).
Sources: La Française Group as of January 31, 2026. Past performance is not indicative of future results.
Main risks: capital loss, equity, currency, discretionary management, liquidity, credit, small cap, derivatives, and sustainability.
For a full description of the risks, further information on strategies, and details on all fees, please refer to the current prospectus and key information document, both of which are available in English on our website. La Française Group's policy on customer requests and complaints is available on our website. The management company may suspend distribution of the fund without prior notice. This is non-contractual information, considered accurate as of the publication date, and subject to change over time. Past performance is not indicative of future results. The fund's portfolio composition is subject to change at any time. These data are provided for illustrative purposes only. Depending on the publication date, the presented information may differ from the most recent data. This non-contractual material is not, and should not be construed as, a recommendation, solicitation, or offer to buy, sell, or arbitrate.
References to specific securities or financial instruments are provided for illustrative purposes only. The opinions expressed reflect the authors' views at the time of publication and do not constitute a binding commitment on the part of Groupe La Française. These references are not intended to promote direct investment in these instruments. Crédit Mutuel Asset Management is not responsible for any alteration, distortion, or falsification of this communication. Reproduction or modification of this document is strictly prohibited without the authorization of Crédit Mutuel Asset Management. La Française Finance Services is an investment firm authorized by the ACPR under number 18673 (www.acpr.banque-france.fr) and registered with the ORIAS (www.orias.fr) under number 13007808 on November 4, 2016. Crédit Mutuel Asset Management: 128 Boulevard Raspail, Paris 75006, is a management company authorized by the Autorité des marchés financiers under number GP 97138. It is also registered with the ORIAS (www.orias.fr) under number 25003045 since April 11, 2025. Crédit Mutuel Asset Management is a public limited company with capital of €3,871,680. It is registered in Paris under number 388 555 021 and is a subsidiary of Groupe La Française, the asset management holding company of Crédit Mutuel Alliance Fédérale.
