1976 - 2016 : la Compagnie Monégasque de Banque fête ses 40 ans
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Financial markets volatility

At the beginning of 2016, asset markets suffered from significant falls in both equities and corporate bonds. The market focus remained on economic growth and numerous uncertainties led to a pessimistic perspective for asset prices. The growth rate in China and the sharp drop in oil are the main reasons for volatility today. However, developed countries, especially the United States and in Europe, have recorded solid growth. Central banks are focused on the situation and are ready to undertake additional stimulation, if required. Finally, risky assets (equities and bond spreads) are at relatively attractive levels.

Mediobanca

Breaking News : Mediobanca reports strong results in the Stress Test

impact of adverse scenario limited to 94pbs
with CET 1 phase-in at 11.46%
largely above SREP of 8.75%

In the context of BCE stress test exercise Mediobanca obtained very good results: in the adverse scenario the maximum impact on capital is limited to 94 bps, with CET1 phase-in ration moving from 12.40% (dec 2015) to 11.46% (Dec 2018), largely above SREP ration of 8.75%.

The publication of this result does not imply ECB Banking Supervision endorsement and it is not possible to infer from the published results any information regarding ECB top-down projections or issues discussed in the quality assurance process.


Investors Relations
+33 02-8829-860 / 647

Media Relations
+ 33 02- 8829.627 / 319



Breaking News : Solar Impulse II has successfully completed its epic round the world voyage.

An outright success for the solar powered aircraft ' Solar Impulse II ' which has managed to circle the globe landing at dawn at the airport of Al-Bateen in Abu Dhabi, UAE, on Tuesday, July 26 2016 from where it departed on March 9, 2015.

CMB has always supported this ambitious project and is particularly proud of this technological and human achievement and congratulates the two Swiss pilots, Bertrand Piccard and André Borschberg, in having held on to their dream and surmounted the many obstacles the fates had in store. An adventure that was originally planned to last five months and finally ended, after a year and four months of great effort, in achieving ultimate success and to become the stuff of legend.

In shifts, by day and by night, piloting in very cramped cockpit at 80 km/hr using stored energy from sunlight in their batteries, the two pioneers traveled 42,000 km without using a drop of hydrocarbon fuel in their goal of promoting the use of renewable energy. Firmly convinced that clean energy can achieve the impossible, they believe that very soon there will be passenger flights in electrically powered aircraft able to be recharged at ground level; a necessary first step in the ultimate goal of solar powered flight. We believe that these two courageous men have more surprises up their sleeves - we take our hats off to them !

CMB Wealth Management Limited

Compagnie Monegasque de Banque is pleased to announce the opening of its London subsidiary, CMB Wealth Management Ltd, that allows it to broaden its geographical presence, and to be closer to UK based clients. CMB is a leading private bank in Monaco, and a member of the Mediobanca Group, the pre-eminent Italian Investment Bank.

CMB Wealth Management Ltd (“CMB London”) is authorised by the UK Regulator (FCA) to advise on investments and mortgages, and thus offers a large range of products and services. Click here for full details.

News flash : Launch of new sub-funds CMB Global Lux

The Luxembourg financial regulator, la Commission de Surveillance du Secteur Financier ("CSSF"), has authorized CMB to launch four new sub-funds within its range of Luxembourg SICAVs. These sub-funds, launched in July, invest in the following asset classes: emerging market debt, diversified fixed income, euro corporate debt and high dividend yield equity.

The management of the emerging market debt fund has been delegated to Neuberger Berman, an investment management firm with a strong track record in this asset class. Emerging market debt will include both government and corporate securities, denominated either in their local currency or in US dollar. The other funds are replication of existing funds within CMB’s range issued under Monaco law.

By launching these sub-funds, CMB extends the range of investment solutions it offers to its clients by including funds compliant to the European Directives (UCITS). Going forward, CMB may grow its investment offering by considering external distribution agreements.

Contact details:
CMB Wealth Management Limited
4th Floor
62 Buckingham Gate
London SW1E 6AJ

Email: cmblondon@cmb.mc
Phone: +44 (0) 203 036 9634

CMB Wealth Management Ltd is authorised and regulated by the FCA - registration number: 662929.

News flash: Our investment choices in a context of low interest rates and low equity volatility

Today, in a context of low interest rates both in Europe and in the United States, but with a different monetary situation and with increasing Equity volatility (in particular in Europe), we favor:

On the bond side:

  • A low duration both in Europe (deflation fades away which may lead to a possible rise of rates on the long end of the curve) and in the United States (normalization of the FED monetary policy within the coming months).
  • A preference for Corporate Bonds versus Governmental Bonds (spreads compensate for risk free rates volatility).
  • An active yield curve monitoring.

On the Equity side:

  • In spite of valuations that are not cheap we overweight Equities versus Bonds. The expansive monetary policies by the leading central banks offer a strong support for Equity markets.
  • From a geographical point of view, we overweight the United States, we are neutral Europe and on emerging countries. The visibility and the soundness of the economic growth make us favor the U.S. We are neutral on Europe for a lack of reforms which limit potential economic growth. However the good dynamic for the current activity is favorable. Emerging countries deal with adverse economic conditions. But due to low valuations, we are therefore neutral on this zone.