
Launch of the first while-labelled fund with direct multi-crypto exposure.
TOBAM was founded with the desire to break free from traditional thought patterns, to think outside the box and make diversification core to any asset allocation.
Our state of mind is innovation fuelled and based on Research. Around a quarter of our employees are mathematicians and engineers involved in the research effort.
Some of our employees started to take an interest in Bitcoin a long time ago, in 2013.
In 2016, observing that Bitcoin’s liquidity seemed to improve significantly year after year, we decided to allocate permanent research resources to crypto and formed the” TOBAM Crypto Research Project”. The first job accomplished by the new group has been to write an investment thesis on Bitcoin based on its fundamental and empirical characteristics, this is how, in line with its quintessential commitment to diversification, TOBAM began its crypto-asset activity in 2017.
TOBAM investment thesis on Bitcoin can be summed up as follows: the theoretical and empirical characteristics of Bitcoin are such that it could potentially become a new store of value, a ‘gold 2.0’ so to speak.
To understand the roots of Bitcoin or the crypto-asset ecosystem and what place it could take in the long-run in the mainstream financial system, it is useful to remember Hayek thesis developed in his famous book the “Denationalization of Money” : a thought experiment of a competitive system of privately issued currencies rather than government monopolies. His thesis being that if a group of people benefit from a monopoly on money issuance, a day or another they will abuse the monopoly, this abuse resulting systematically in disastrous crisis. In order to avoid the crisis, we need to get rid of the monopoly .
Bitcoin has in fact been conceived to address certain shortcomings of traditional ‘fiat’ currencies, making it a hedge for its bearer.
In the era of Quantitative Easing and ever easing central bank policies, Bitcoin is considered by some as a compelling potential alternative to traditional stores of value.
Apart from its more fundamental investment case, Bitcoin is an extremely potent portfolio diversifier; its correlation to all the traditional financial assets is, on the medium term, non-significant.
It is important to acknowledge that the volatility of Bitcoin in recent years has been indeed approximately 10x greater than other typical financial assets.
Risk, in itself, should however have no bearing on the investment thesis and on the decision to invest or not. Investing is not a binary yes/no decision, everything is a matter of how risk is sliced and diced in a portfolio of assets. For instance, keeping US$ 1000 million invested at 10% volatility is far riskier in USD terms than US$ 25 million at 80% volatility.
To state the obvious, Bitcoin needs to be properly scaled in order to become useful from a portfolio construction perspective.
Launch of the first while-labelled fund with direct multi-crypto exposure.
Launch of next generation BTC fund eligible to FR unit-linked.
First DeFi mandate + Bitcoin-related equity bucket in AB Multi Asset.
Zero carbon mine inaugurated.
Launch of the first bitcoin open-ended fund in the world.
First bitcoin mandate.
Team hiring finalized.
Launch of the "crypto research project".
First bitcoin investment by TOBAM employee.
TOBAM offers a quantitative management approach which integrates socially responsible investment criteria via an exclusion list.
Applied to equity and fixed income strategies, respectively since 2007 and 2015, we are looking at Maximum Diversification® indices since 2011, this negative screening is based on the exclusion list published by the Norges Bank, a renowned investment institution and founding member of the PRI , as some other leading institutions.
This exclusion list involves controversial products ( Tobacco, Coal, Weapons ) and other controversial behaviors ( Human rights, Environment and International Laws, severe damages or breaches ).
We are committed to third parties, the industry and the investment companies as another crucial step towards the promotion and development of responsible investment.
TOBAM also applies a 100% fossil-fuel free approach to two of its strategies: Anti-Benchmark® Emerging Markets Equity and Anti-Benchmark® Global High Yield.
Companies with significant involvement in the production, sales or extraction of fossil fuels (including coal, coal power generation, oil and gas) are excluded from the investment universes of both strategies.
Downloads :
EXCLUSION POLICY |
Your jurisdiction may not give you full access to the list of funds distributed by TOBAM, for more information please contact [email protected]
Your jurisdiction may not give you full access to the list of funds distributed by TOBAM, for more information please contact [email protected]
This website is not intended for persons in jurisdictions in which the publication of its content is illegal, or for whom access to this content is illegal due to their nationality or place of residence. The same applies for countries for which TOBAM has not applied for marketing authorization. The information on this site is not intended for distribution to, or use by, any person or entity in any country or jurisdiction where such distribution or use would be contrary to law or regulation, or which would require TOBAM to comply with any registration requirements of such countries or jurisdictions. In this respect, the marketing authorization for TOBAM Bitcoin linked strategy has only been granted in France. In particular, it is stipulated that the undertakings for collective investment (UCI) have not been and will not be registered with the US Securities and Exchange Commission as provided by the Investment Company Act of 1940 and its amendments or any other regulation on transferable securities.
All information on this site is provided for information purposes only. No information appearing on this site shall be considered as an offer of services or products, in particular investment services, from TOBAM, nor as an offer or solicitation of an offer to buy or sell financial instruments or any other investment product, nor as advice for any investment or arbitrage of financial instruments or any other management or investment product. The information on the TOBAM website does not constitute investment, legal, tax or other advice. Nor may it be considered as the basis for an investment decision or any other decision. Any investment decision must be based on relevant, specific, and professional advice. Any person wishing to obtain one of the services or products presented here is requested to contact TOBAM, in order to find out about the availability of the service or product in question as well as the contractual conditions and fees applicable to it.
If you wish to invest, you should also contact your advisor, who will help you to assess whether the products are suitable for your investment needs and objectives and will also explain the potential risks. Investment in funds should only be made after consulting the regulatory documentation. These documents can be obtained either from this site or directly from TOBAM.
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tobam considers stewardship as a way to consider its shareholder and creditor position on behalf of its clients to influence investee companies, investors, the asset management industry and our clients. The objective is to take responsibility for long-term value creation, including the value of common economic, social and environmental assets.
tobam uses several tools to achieve an efficient stewardship policy and further integration of ESG principles and good corporate governance in the companies in which it invests.
tobam’s Stewardship policy’s primary objective is to identify and influence investee companies under controversies or facing ESG challenges and to use our shareholder and creditor responsibility as a way to further the dialogue and to influence best practices. Management of potential reputational, legal, environmental, social risks is the priority of tobam’s stewardship policy.
tobam uses General Assembly Votes, Engagement, Contribution to Public Goods (Research) and Public Discourse (media & Conferences) to enhance its stewardship responsibility, reach better understanding of investee companies’ policies, develop risk monitoring of controversies, ESG and climate related risks and promote best practices.
Downloads :
STEWARDSHIP POLICY | ENGAGEMENT POLICY | VOTING REPORT | ALL VOTING DECISIONS | ENGAGEMENT REPORT |
TOBAM’s Research team has built a proprietary methodology to construct the ESG FOOTPRINT of each individual stock holding in our portfolios, hence the ESG footprint of our portfolios.
Using officially published data from Bloomberg in order to monitor the E, S and G criteria for all listed companies of our investment universe:
TOBAM’s is now integrating ESG and has implemented this hard constraint to all our equity portfolio, in order to optimize portfolios so that they, at minima, match the ESG footprint of their respective benchmark.
As usual, TOBAM’s integration efforts is built in parallel to significant research efforts to ensure that these new additions did not significantly impact the characteristics of our portfolio in terms of risk/return profile, as well as diversification structure.
TOBAM is currently working on integrating the ESG footprint to fixed income portfolios.
Downloads :
SUSTAINABILITY REPORT | SRI POLICY | ADVERSE SUSTAINABILITY IMPACTS STATEMENT |
US PATENT
CANADIAN PATENT
AUSTRALIAN PATENT
JAPANESE PATENT
We are really proud to have another beneficiary of the Initiative, Aurélia Boulanger, a very talented young triathlete.
Aurelia just graduated as an engineer, specialized in urban planning and sustainable buildings.
She started her triathlete career in 2018, and became the winner of the 2019 French long distance triathlon.
TOBAM is proud to support a female athlete, in a sport that is less prone to media attention but requires an absolute dedication and commitment to trainings and competition.
Her objective this year is to qualify for the Triathlon 70.3 World Championship, due to be held on December 2022 in New Zealand. This “half-Ironman” is a long-distance triathlon race consisting of 1.9km swim (1.2 mile), 90km bike (56 miles), and 21.1km run (13.1 miles) !
Aurelia’s dedication to her sport, trainings and objectives sets a high example for all of us. We are happy to support Aurélia for her future endeavours.
Discover Aurélia’s interview from April 2022
Good Luck Aurélia!
Born in Bayonne (South West of France) in 2001, Justin grew up with his feet in the sands.
Supported by his parents who 15 years ago, established the Natural Surf Lodge, between lake, forest and ocean. This environmentally responsible living environment, provides Justin with a beneficial and suitable structure for his training.
A native from the European capital of board sports, Justin has a great desire to travel the world (Australia, Tahiti, Hawaï, Denmark..) which he will be able to do upon being successful in joining the professional circuit, the CT.
In 2022, Justin has been selected to join the highly prestigious and is looking to participate to the Olympic games in Paris in 2024.
TOBAM is proud to support this young athlete, who remains humble and accessible. Go for it Justin!
If you want to learn more about Justin, please read “Life of a Surfer“
The Client Service & Business Development team coordinates Client Service and Business Development from Paris and New York offices, and has been continuously expanding together with TOBAM’s AUM growth. The team evolves in a multicultural environment and currently includes members from Europe, America, and Asia.
The Client Service & Business Development team in Paris sits together with the Portfolio Management and Research Team which facilitates the cooperation and constant flow of information between the different teams.
Job Description
The Candidate prerequisite
Please send over your ENGLISH CV.
Contact
Job Description
The candidate will:
The Candidate prerequisite
Definite plus: Strong Academic track record.
Job Description
The internship consists:
Technical environment:
The Candidate prerequisite
Since the adoption of Norges Bank’s exclusion list in 2007, tobam has implemented a number of initiatives to further supplement its sustainable investment approach. tobam’s research department dedicates a significant amount of its time and resources to study the ways in which sustainable investment and ESG topics can be integrated into portfolios without disrupting tobam’s Maximum Diversification® philosophy.
tobam’s research team carried out extensive research on the reduction of the carbon footprint of our portfolios via the implementation of a carbon footprint constraint compared to the market cap weighted benchmark of the investment universe.
Based on our findings, we demonstrated that a systematic reduction of 20% of all of tobam’s portfolios carbon footprint versus their respective benchmark has no significant impact on the portfolio’s risk/return profile, nor on its diversification benefits.
This relative carbon footprint reduction constraint was implemented in the portfolio optimization process, for all Anti-Benchmark® equity portfolios since June 2018, to all Maximum Diversification® Indices since September 2018 and to fixed income portfolios since June 2019.