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IPE special report May 2018

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FRR tactical asset head Morel joins Natexis

FRANCE – Christophe Morel, head of strategy and tactical asset allocation at the €26.6bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has been appointed tactical asset allocation chief at Natexis Asset Management.

Morel started at Natexis – owned Banque Populaire – on March 1. He was at the FRR for two years.

Morel, 34, reports to deputy chief investment officer Roland Lescure, who is responsible for all global asset allocation products. He will also lead a three-strong team, which is currently being put together.

This is one of three teams – the others being global asset allocation and structured products management.

“Natexis Asset management strongly believe that our retail and institutional clients are going to need more and more help on asset allocation,” said Lescure.

“We have decided to restructure our global expertise by creating three teams dedicated to asset allocation.”

Lescure told IPE there are currently two portfolio managers in Morel’s team. Natexis is “actively looking” for a third team member.

“Their mission is developing a tactical overlay product range,” said Lescure.

“We manage about €1bn in pure asset allocation products, and we believe that clients will more and more need tactical overlay on their global assets.”

Morel is responsible for completing the team, further developing the tactical overlay investment process and “putting together the tools” that will assist Natexis manage these kinds of products in “an industrialised way”, said Lescure.

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