INVESTMENT STRATEGY - Is the glass half full or half empty?

Only for professional investors

ODDO BHF Asset Management is the asset management division of the ODDO BHF Group. This is the common brand of three separate legal entities: ODDO BHF Asset Management SAS (France), ODDO BHF PRIVATE EQUITY (France) and ODDO BHF Asset Management GmbH (Germany). This document has been prepared by ODDO BHF ASSET MANAGEMENT SAS (ODDO BHF AM) for promotional purposes. The distribution of this document is the responsibility of each distribution company, agent or consultant. Potential investors are encouraged to consult an investment and / or tax adviser before investing in the Strategy or the Fund. It is expressly pointed out that these strategies or funds are not authorized for (public) distribution in every country. In the case of an investment, investors are encouraged to familiarize themselves with the risks of the investment, in particular the loss of capital. The value of the investment may be subject to fluctuations both upwards and downwards, and it is possible that the amount invested will not be fully repaid. The investment must be consistent with the investment objectives, investment horizon and risk appetite of the investor in relation to the investment. ODDO BHF AM accepts no liability for loss or damage of any kind resulting from the use of the entire document or a part thereof. All opinions and opinions expressed in this document are for illustrative purposes only. They reflect the opinions and opinions of the author at the time of publication and are subject to change without notice, no liability is assumed. Past performance should not be taken as an indication or guarantee of future performance. It is subject to fluctuations over time. There is no assurance - express or implied - or warranty of future performance. Please note that if ODDO BHF AM provides investment advisory services as of 3 January 2018, this will be non-independent investment advice under European Directive 2014/65 / EU (the so-called "MiFID II" Directive). Please also note that all recommendations made by ODDO BHF AM are always made for the purpose of diversification.