Les fonds communs de placement (UCITS) en période de hausse de taux d'intérêts: Étude de la capacité des gestionnaires de portefeuille pour anticiper les performances et les flux d'investissements

Abstract

Due to different decisions from BCE regarding the interest rate variation. Some investment manager has to take some decisions in order to keep attractivity and profitability for their funds. This master thesis, entitled “Mutual funds (UCITS) in times of rising interest rate: Study of portfolio managers’ ability to anticipate performance and investment flows”, analyses the sample and try to know if the UCITS portfolio manager are able to manage their portfolios and investors with an increase of interest rate. Throughout this thesis, we will present some theoretical points about UCITS regulations, the effects of interest rate on different financial instruments, market timing per example. We will compare old studies, and our results to know if the portfolio manager can handle a period of rising interest rate.