Frederic Leroux

Head of the Cross Asset team, Global Fund Manager

Head of the Cross Asset team, Global Fund Manager – 26 years of experience

Frederic began working at Carmignac in 1995, left, and came back in 2003. He is currently Global Fund Manager and Head of the Cross Asset team.  Previously, Frederic worked as a Portfolio Manager for Cava Finance and Banque Scalbert-Dupont (1989-1994). Then, he integrated Carmignac as a Portfolio Manager specialized in implementation of derivatives strategies. Two years later, he founded Kheops Finance, for which he created and managed a FCIMT, a fund specialized in derivatives. Between 2001 and 2003, he worked for BNP Paribas Equities and HSBC CCF Securities as a Consultant in equity market and derivatives strategies. Frédéric graduated from l’IESEG in Lille.

 

 

ABSTRACT

The importance of being a risk manager

For years, markets had been fuelled by confidence in central banks’ ability to return world economies to their pre-crisis shape and their responsibility to ensure that the prices of certain assets remained supported whatever it took. For the last years, risk management was looked after by central banks offering passive funds their time of glory. As the power of central banks wanes, active fund managers can now demonstrate that managing risks brings value. The goal for active fund managers is, over and above stock picking, sector allocation, portfolio construction, and tactical short-term trades, to succeed in managing unexpected ‘tail’ risks.