Portfolios

We include in our Watchlist the ETF Lyxor AU2 (Australian Index ASX-200) which develops a graphically attractive configuration and enjoys a long-term upward trend, while historically consolidations tend to be buying opportunities.

• The Australian economy is indeed very dynamic and diversified and highly exposed to the Asian economies.

We include the ETF Ishares EPU (MSCI Peru Index) in our watchlist because of its relative strength versus overall equity indices (World, Europe and US) as well as its positive technical configuration. The cost of this ETF is 0.63% and outstanding amounts are approximately $ 167 million.

We integrate the KRW Lyxor ETF into our Watchlist (short), while the technical situation weaken under geopolitical tensions. We should be very careful on the technical signals of the next few days, as the evolution of this ETF should be more than ever "event driven".

We include in our watchlist the ETN Ipath Cotton (BAL), which presents an interesting technical short term configuration. In the longer term, structural threats could weigh negatively on prices. BAL incurs a fee of 0.75% with a limited liquidity of c.

We integrate RIO (Brazil) into our watchlist because of a technical profile that has clearly improved and once again became attractive from a technical point of view in the short and long term. Brazil has suffered a new political scandal, but President Tremer succeeded in preventing the opposition from obtaining the two-thirds majority needed to bring the corruption charge to the Supreme Court.