Gustavo Horenstein

"Analysing the world, deciding on portfolios, explaining what we do"
Portfolio Manager, Economic Research and Asset Allocation

Gustavo draws on his insight into the economy from both the academic world and his financial markets experience to provide Dorval AM with high-quality macroeconomic analysis and expertise on emerging markets. He joined our team in 2011 and works with Sophie Chauvellier. Gustavo is a trained economist and co-manages the company’s Global Convictions fund range.

Gustavo holds a degree in economics from Pantheon-Sorbonne University in Paris, and also has research and teaching experience at Paris Dauphine University. He started his career at the French Ministry of Finance in his first role as an economist assigned to Bangkok. In 2000, he joined the economic research department at Oddo et Cie before moving to the asset allocation team at Oddo Asset Management in 2006, where he took up his first portfolio manager role.

His extensive experience in Asia, combined with his exceptional background and excellent academic record attracted the interest of Louis Bert and Stéphane Furet, and in 2011 Gustavo joined Dorval AM to bolster the team’s macroeconomic expertise and co-manage the company’s international flexible multi-asset funds together with Sophie Chauvellier.

Gustavo develops macroeconomic scenarios on a daily basis, while seeking to understand political issues and set them in their financial context to take the best portfolio management decisions. He is clear-headed, methodical and a team player, and consistently discusses his opinions with co-workers François-Xavier Chauchat and Sophie Chauvellier, as well as other Dorval AM portfolio managers, to establish an objective view of the world around him.

Funds co-managers

François-Xavier Chauchat
Member of the Investment Committee, economist and strategist.
Sophie Chauvellier
Portfolio Manager, Economic Research and Asset Allocation

Funds management

Recent point of view

Exposure rates of the Dorval Asset Management Range – 7th September 2018
We are now just two months away from the US midterm elections and voting is set to take place in an economically thriving country near full employment with gradually normalising wages (+2.9% in August) and prices (+2.0% in July for the PCE deflator, excluding food and energy). 

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