The economic recovery in 2021 and the interest of investors in reinvesting in the finance sector will be best reflected in insurance companies. The financial health of these companies is superior to that of banks, with solvency ratios that have remained at healthy levels despite the financial strain of the COVID-19 crisis. This financial strength will be reflected in the ability to once again pay dividends and in the reintroduction of share buyback programs.

The Technology industry, as long-term investors, adds structural growth to our portfolios. We select high-quality companies, among which three types of company stand out: suppliers of equipment for semiconductor manufacturers that facilitate the expansion of Artificial Intelligence and the Internet of Things; IT Services companies that facilitate the digital transition; and payment processing companies that support the development of digital commerce.

The sports industry represents a significant investment opportunity bolstered by sustainability criteria, and provides long-term visibility in times of uncertainty. Although the global pandemic has undoubtedly had a profound negative impact, the industry’s previously existing positive trends are still evident and, in certain cases, have even accelerated. In our view, the fact that this industry tends to be forgotten by the finance community contributes to the fact that the market has not yet recognized this potential.