Nicolas Aubagnac from Ofi Invest Asset Management is our Sales Manager of the Month

Nicolas Aubagnac is deputy head of international development at Ofi Invest Asset Management. Ofi Invest is the 5th largest French asset management group with more than 200bn€ of AUM. The international business development activity is mainly focused on five European countries, Germany, Austria, Italy, Spain, and Portugal.

Nicolas has held this position since 2018. Previously, he was institutional sales manager for the French market.

Nicolas holds a master’s degree in economics from the University of Paris 2, an Executive MBA from HEC Paris, the ESG Investing certification from the CFA Institute. He has 18 years of financial industry experience.

What made you decide to go into the financial sector? Did you have any other vocations? Did you focus your career to the financial sector since the beginning?

I entered the financial sector somewhat by chance, starting with an internship at a fund of hedge funds after studying economics. Initially, I was particularly drawn to new technologies and considered pursuing a career with startups. However, the startup ecosystem wasn't as developed at that time. Despite this, I have no regrets about my choice, as I find great fulfillment in the diverse range of topics we tackle and in building strong relationships with investors.

What does a typical workday look like for you? What do you enjoy the most about your job?

My time is divided among various activities, such as regular interactions with our prospects and clients, traveling abroad, attending conferences, engaging with our investment (money market, fixed income, equity, commodities…), marketing, communication, legal, and middle office teams, and maintaining relationships with our press agencies and external sales teams. 

The most satisfying aspect of my job is undoubtedly collaborating with diverse and talented teams and building strong relationships with our clients and partners.

In your opinion, what are the key drivers for successful fund distribution? What are the key elements to rely on an asset manager?

In addition to offering excellent funds, the most crucial aspect of fund distribution is the quality of service and client relations. Providing impeccable service and establishing a relationship based on trust are essential, as we aim at Ofi Invest to build long-term partnerships with our clients.

An asset manager is a regulated entity that relies on extensive teams specializing in risk management, compliance, and analysis. This allows them to serve as trusted intermediaries for investors. They also grant access to top-tier financial market experts through flexible investment solutions. Additionally, an asset manager can provide you with access to specific markets, such as our subsidiaries SWEN for Private Equity and infrastructure or Zencap AM for private debt.

Could you highlight any topic on which investors should focus for the long term?

The greatest challenge facing humanity is likely climate change. To fight this threat, we will need to change our habits and successfully transition to sustainable energy. This will have significant impacts on individuals, businesses, and financial markets, necessitating better risk identification as well as creating new investment opportunities. For instance, financing infrastructure projects, and investing in the metals required for the energy transition are two such opportunities. I firmly believe that in the long term, integrating seriously Environmental, Social, and Governance factors into investment decisions is not just an option, but a necessity.

What is your advice to investors, how should they position their portfolios with the current environment?

Considering a European investor, with current interest rates and central banks nearing a shift in strategy, the credit market likely represents the 'sweet spot'. At Ofi Invest AM, our view on the equity markets is neutral at current levels, with a contrarian and opportunistic approach based on market volatility and a preference for Japan, where exporters benefit from the weak yen. Finally, I recommend diversifying portfolios with alternative asset classes such as metals, private debt, or infrastructure.

What is the most exciting thing you have seen in the markets since you started working in the financial sector? And the biggest challenge you had to face?

I believe we are living in a particularly exciting time with the emergence of generative artificial intelligence. This development is likely as revolutionary as the advent of internet. This technology will make us more efficient and should drive future growth.

On the other side, the biggest challenge was probably the Lehmann crisis. I think I gained 5 years of experience in only 5 months.

When you have free time, what do you like to do?

First, as I travel regularly for business, on my free time, I cherish spending quality time with my family and friends. I also enjoy fencing, reading and watching movies.