Natixis Investment Raises US Equity Allocation to Upper Limit
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On 21 October 2026, Mabrouk Chetouane, global head of market strategy at Natixis Investment Managers, said the firm had raised its US equity allocation to the upper limit permitted by its model portfolio. He believes geopolitical conflicts alone are not a reason to cut holdings, and that falling corporate earnings are the key factor. On regional allocation, Natixis is bullish on Japan and cautious on Europe; it maintains its characterisation of China's new economy as "strong growth, thin profits" and warns of a possible gap between expectations and returns on AI capital expenditure.
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- 明報·每日經濟Natixis IM Raises US Equity Allocation to Cap as Earnings Growth Outweighs High Rates
Mabrouk Chetouane, global head of market strategy at Natixis Investment Managers, said the firm has raised its US equity allocation to the maximum allowed in its model portfolio, arguing that geopolitical conflict alone is not a reason to cut exposure and that falling corporate earnings are. On regional allocation, Natixis is bullish on Japan, cautious on Europe, maintains its "strong growth, thin profits" characterisation of China's new economy, and warns of a mismatch between expectations for AI capital spending and returns.
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