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  Home / BCEAO Portfolio Construction / Developed Markets Equity Fund
The BCEAO Developed Markets Equity Fund invests in equities of listed companies that are primarily active. This strategy is aimed at long-term asset growth within the set risk profile. We combine internal portfolio management with the selection of external managers. We manage the majority of the assets ourselves. We have outsourced the investment strategies for which we lack the knowledge or experience or which require computer systems we do not have.


The main feature of the portfolio is the combination of three investing disciplines:

  Quantitative investing
  Fundamental investing
  Focus investing


Most of the money goes to quantitative investing. Based on the selection models we have developed in house, we systematically invest that money
worldwide in a relatively large number of companies. As a fundamental investor, we select equities based on in-depth fundamental company analyses and industry analyses. Our focus investors concentrate on medium-sized companies. We take significant stakes in companies on the basis of in-depth company analyses. Because of the concentrated nature of the portfolio, the return from focus investing may deviate more from the benchmark return than
that of the other two disciplines. We take ESG factors (environmental, social and governance) into account in the investment process for all three disci-
plines. This is evident from the voting policy, the exclusion policy, the selection of equities and the assessment of risk.


Risk

We have spread the capital stock managed by us across the three disciplines and their underlying investment strategies. In doing so we reduce the risk in the overall portfolio and increase the return per unit of active risk. Our goal in this is a stable active return, continuity in investing, adequate capacity to invest and ESG integration. Every investment strategy within the fund selects equities from a broad universe and distinguishes itself from other strategies by its investment philosophy and/or the market segment
Developed Markets Equity Fund
Our focused alpha strategy complements the smart beta strategy. This consists of internally and externally-managed commodity absolute return strategies aimed at a more attractive risk-adjusted return...
COMMODITIES FUND
The difficulties experienced in the 1980s by development banks, traditional agricultural finance organizations, small- and medium-sized companies and craft trades further aggravated the stagnation and even the regression...
DECENTRALIZED SYSTEM
As a fundamental investor, we select equities based on in-depth fundamental company analyses and industry analyses. Our focus investors concentrate on multinational and medium-sized companies...
DEVELOPED MARKETS EQUITY
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Developed Markets Equity

We take significant stakes in companies on the basis of in-depth company analyses.