We integrate the Lyxor HLT (Health Europe index) ETF in our Active Euro portfolio, while the latter starts a rebound, after several months of correction. We exit the UTI (Utilities Europe) ETF which has behaved well for several weeks but which seems to loose momentum for several days in the context of equity markets recovery.

We include in our watchlist the ETF Lyxor THA (SET50 Thailand Index) with a fee of 0.45% and an AUM of  c.€15M. The Thai index is up 6.8% YTD, with a sharp recovery since August.

• The Thai index remains correlated to commodities (agricultural and energy) which are currently rebounding.

We integrate the Lyxor DAX ETF (German index) into our Active Euro portfolio, while the latter benefited from the renewed interest in the cyclical sectors such as automotive and chemicals and slightly outperformed the Stoxx600 since the beginning of the year.

We integrate the ETF lyxor TNO (Technology Europe) into our Megatrend Portfolio. The mid-term growth potential looks huge (AI, digitalization…).

We exit the ETF BNK (Banks Europe) due to the relapse of interest rates that penalize the margins of banks, a trend which should continue for a while.