AF2i – Why investing today in the healthcare sector?

The managers of the Trecento Santé fund, Alice Lhabouz and Christophe Pouchoy, explain in AF2i’s quarterly letter why the healthcare sector is an attractive stock market theme. “These catalysts enable the health sector to grow by 5% to 6% a year on average, when global economic growth is barely exceeding 3.5%.” In the short and…

Décideurs Magazine – Health is a structurally growing segment

“Our approach is different: the Trecento health fund has been the least volatile of the market since its creation (…) The health sector has proved its ability to withstand difficult times, but in this context in this market, it is better to choose the least risky fund “, comments Alice Lhabouz, President and Founder of…

Challenges – Homeopathy: Do labs ring the alarm for nothing?

While the High Authority for Health (HAS) should give an opinion on the merits of the reimbursement of homeopathic medicines in June, industry players launched Wednesday a campaign to defend homeopathy. For Christophe Pouchoy, co-manager of the Trecento Santé fund, a possible derogation would not put an industry in good health on the ground today.…

Challenges – Novartis injecting itself a strong dose of innovation

Christophe Pouchoy, Managing Director and Managing Director of Trecento Asset Management, co-manager of the Trecento Santé fund, commented on the transformation of Novartis and in particular its business model in Challenges magazine. “Vas Narasimhan understood that it was necessary to accelerate the transformation, and too bad if it (…)” Read the article by clicking here…

Pharmaceutiques – M&A, the race for opportunities

Christophe Pouchoy, Managing Director and Managing Director of Trecento Asset Management, co-manager of the Trecento Santé fund, answered questions from the Pharmaceutiques magazine about the recent acquisitions and some reconciliations of big pharma and major biotech companies. “Because, before buying a company, the laboratories study the expected sales multiples over the coming years and the…

Challenges – With the flu, homeopathy is doing well

Christophe Pouchoy, Managing Director and Managing Director of Trecento Asset Management, analyzed the boom in homeopathy in the Challenges magazine. “With 24% of turnover in 2017 for promotional expenses – and less than 1% for research expenses – Boiron has the (…)” Read the article by clicking here (available in French only)

Challenges – Buy or sell EssilorLuxottica?

Alice Lhabouz, CEO and Founder of Trecento AM, explains why the valuation of the new group is high, and advises to wait until 2019 to have a clear vision of the strategy of the new group. “In a fragmented low-growth market, the merger with Luxottica makes sense in the long term. The synergies announced seem…

Challenges – Why Novartis is cutting off its swiss workforce?

Alice Lhabouz, CE and founder of Trecento AM, comments on Challenges news from the Swiss giant Novartis, and also the announcement of Varant Narasimhan, CEO of the company since February. “The group will focus on specialty pharma, personalized medicine and rare diseases with growth and higher margins, enough to reallocate capital and increase the (…)” Read…

Challenges – What’s happening on the stock market to semiconductor manufacturer STMicroelectronics?

Alice Lhabouz, President and Founder of Trecento AM, comments on Challenges the stock market performance of semiconductor manufacturer STMicroelectronics. “The growth in revenues and margins in the first quarter shows that the restructuring of STMicroelectronics is well underway.The company has offset the weakness of the business” smartphones “(and iPhone in particular) by a sustained activity…