{"id":2464,"date":"2023-01-19T16:15:27","date_gmt":"2023-01-19T15:15:27","guid":{"rendered":"https:\/\/ad-maiora.fr\/?p=2464"},"modified":"2023-01-26T16:34:15","modified_gmt":"2023-01-26T15:34:15","slug":"les-fonds-obligataires-incontournables-en-2023","status":"publish","type":"post","link":"https:\/\/ad-maiora.fr\/index.php\/2023\/01\/19\/les-fonds-obligataires-incontournables-en-2023\/","title":{"rendered":"Les fonds obligataires, incontournables en 2023"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2464\" class=\"elementor elementor-2464\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0b3f12e elementor-section-content-middle elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"0b3f12e\" data-element_type=\"section\" data-e-type=\"section\" 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tabindex=\"-1\">Contact<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-759f14b0 elementor-section-height-min-height elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"759f14b0\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7cacf9e7\" data-id=\"7cacf9e7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-728480ed elementor-headline--style-rotate elementor-widget elementor-widget-animated-headline\" data-id=\"728480ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headline_style&quot;:&quot;rotate&quot;,&quot;animation_type&quot;:&quot;slide&quot;,&quot;rotating_text&quot;:&quot;Nos r\\u00e9dactions \\nNos opportunit\\u00e9s \\nNos recherches&quot;,&quot;loop&quot;:&quot;yes&quot;,&quot;rotate_iteration_delay&quot;:2500}\" data-widget_type=\"animated-headline.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2 class=\"elementor-headline elementor-headline-animation-type-slide\">\n\t\t\t\t\t<span class=\"elementor-headline-plain-text elementor-headline-text-wrapper\">AD maiora<br><\/span>\n\t\t\t\t<span class=\"elementor-headline-dynamic-wrapper elementor-headline-text-wrapper\">\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text elementor-headline-text-active\">\n\t\t\t\tNos&nbsp;r\u00e9dactions&nbsp;\t\t\t<\/span>\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text\">\n\t\t\t\tNos&nbsp;opportunit\u00e9s&nbsp;\t\t\t<\/span>\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text\">\n\t\t\t\tNos&nbsp;recherches\t\t\t<\/span>\n\t\t\t\t\t\t<\/span>\n\t\t\t\t<\/h2>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d572673 elementor-widget elementor-widget-text-editor\" data-id=\"d572673\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em>\u00ab\u00a0Vers de plus grands projets\u00a0\u00bb<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d4574ff elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d4574ff\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4437aa6\" data-id=\"4437aa6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dbc10df elementor-widget elementor-widget-heading\" data-id=\"dbc10df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Les fonds obligataires - Incontournables en 2023 <\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-790f59af elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"790f59af\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1de6847d\" data-id=\"1de6847d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7756498 elementor-widget elementor-widget-heading\" data-id=\"7756498\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Obligations : le fonctionnement<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56360df elementor-widget elementor-widget-text-editor\" data-id=\"56360df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Une obligation est un <strong>titre de dette<\/strong>, c\u2019est-\u00e0-dire qu\u2019une somme d\u2019argent est <span style=\"text-decoration: underline;\">pr\u00eat\u00e9e<\/span> \u00e0 une entreprise, un Etat\u2026 qui verse, <em>en contrepartie<\/em>, des <span style=\"text-decoration: underline;\">int\u00e9r\u00eats<\/span> tout au long de cet emprunt et qui <strong>rembourse le capital<\/strong> \u00e0 l\u2019\u00e9ch\u00e9ance.\u00a0<span style=\"font-weight: 400;\"><br \/><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a2d21e elementor-widget elementor-widget-heading\" data-id=\"4a2d21e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Exemple<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d9253d elementor-widget elementor-widget-text-editor\" data-id=\"1d9253d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>La soci\u00e9t\u00e9 A emprunte 100 \u20ac le 1er Janvier 2023 pour une dur\u00e9e de 3 ans, \u00e0 un taux d\u2019int\u00e9r\u00eat de 3 %.\u00a0<\/p><p>Elle demande ainsi 100 \u20ac \u00e0 un pr\u00eateur et va lui verser 3 \u20ac par an en contrepartie. Au 1er Janvier 2026, elle remboursera les 100 \u20ac emprunt\u00e9s.\u00a0<\/p><p>Pour l\u2019investisseur, cela se traduit par :\u00a0<\/p><ul><li aria-level=\"1\">1er Janvier 2023 : &#8211; 100 \u20ac (<em>l&rsquo;investissement<\/em>)\u00a0<\/li><li aria-level=\"1\">1er Janvier 2024 : + 3 \u20ac, c\u2019est le premier coupon (<em>les int\u00e9r\u00eats<\/em>)\u00a0<\/li><li aria-level=\"1\">1er Janvier 2025 : + 3 \u20ac, le deuxi\u00e8me coupon\u00a0<\/li><li style=\"font-weight: 400;\" aria-level=\"1\">1er Janvier 2026 : + 103 \u20ac, correspondant au troisi\u00e8me coupon et au remboursement du capital.\u00a0<span style=\"font-weight: 400;\"><br \/><\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-01d1255 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"01d1255\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2ff6b4f\" data-id=\"2ff6b4f\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e476b9b elementor-widget elementor-widget-heading\" data-id=\"e476b9b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Quel est le risque d\u2019une obligation ? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a405b5 elementor-widget elementor-widget-text-editor\" data-id=\"0a405b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Les obligations sont expos\u00e9es au <strong>risque de d\u00e9faut<\/strong> (<em>ou de cr\u00e9dit<\/em>), c\u2019est-\u00e0-dire si la structure ne parvient plus \u00e0 payer ses coupons et \/ ou \u00e0 rembourser le capital.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1415ceb\" data-id=\"1415ceb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-76d026d elementor-widget elementor-widget-heading\" data-id=\"76d026d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Comment mesurer ce risque ? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-706e22f elementor-widget elementor-widget-text-editor\" data-id=\"706e22f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Ce risque est fonction de la <strong>qualit\u00e9 de l\u2019emprunteur<\/strong>. Pour le d\u00e9terminer, les soci\u00e9t\u00e9s ou \u00c9tats sont not\u00e9s sur une \u00e9chelle qui va de \u201cqualit\u00e9 sup\u00e9rieure\u201d \u00e0 \u201cproche de la faillite\u201d. Les notes vont ainsi de A \u00e0 C, avec diff\u00e9rentes d\u00e9clinaisons en fonction des agences de notation. <br \/>Le syst\u00e8me le plus simple et peut-\u00eatre le plus r\u00e9pandu est celui de <strong>Standard &amp; Poor\u2019s<\/strong>, qui attribue AAA comme meilleure note, puis AA +, AA, etc\u2026 jusqu\u2019aux plus mauvaises : CCC -, CC, C.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-b01aa10 elementor-widget elementor-widget-heading\" data-id=\"b01aa10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Int\u00e9grons la notion de cotation <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c802c16 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c802c16\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-015d29c\" data-id=\"015d29c\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b44cb20 elementor-widget elementor-widget-text-editor\" data-id=\"b44cb20\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #000000;\">Comme une action, une obligation peut \u00eatre cot\u00e9e en bourse. <strong>Cela implique qu\u2019elle poss\u00e8de une valeur d\u2019\u00e9change sur le march\u00e9.\u00a0<\/strong><\/span><\/p><p><span style=\"color: #000000;\">Une obligation \u00e9mise \u00e0 100 peut ainsi <strong>se valoriser<\/strong> 102 ou 98 le lendemain, <em>en fonction de nombreux param\u00e8tres et notamment du risque<\/em>.\u00a0<\/span><\/p><p><span style=\"color: #000000;\">Par exemple, si nous<\/span><span style=\"color: #000000; font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform );\"> apprenons demain que la soci\u00e9t\u00e9 A est en train de faire faillite et ne pourra pas rembourser sa dette, <strong>qui voudra acheter 100 \u20ac son obligation <\/strong>? <em>Personne<\/em>.\u00a0<\/span><\/p><p><span style=\"color: #000000; font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform );\">Et celui qui la d\u00e9tient essayera s\u00fbrement de la <strong>vendre \u00e0 tout prix<\/strong>, en se disant qu\u2019il vaut mieux la vendre 50 \u20ac maintenant plut\u00f4t que de prendre le risque de ne rien r\u00e9cup\u00e9rer \u00e0 la fin.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5bf96d7\" data-id=\"5bf96d7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-74a57e4 elementor-widget elementor-widget-image\" data-id=\"74a57e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1200\" height=\"654\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/scruter-une-action.jpeg\" class=\"attachment-full size-full wp-image-3299\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/scruter-une-action.jpeg 1200w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/scruter-une-action-300x164.jpeg 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/scruter-une-action-1024x558.jpeg 1024w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/scruter-une-action-768x419.jpeg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-927ef75 elementor-widget elementor-widget-text-editor\" data-id=\"927ef75\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u00a0<\/p><p>Et <strong>en face<\/strong>, \u00e0 l\u2019inverse, quelqu\u2019un se dira peut-\u00eatre que le <em>risque<\/em> n\u2019est pas si important et qu\u2019acheter l\u2019obligation 50 \u20ac avec un rendement de 3 \u20ac par an (<em>soit 6 % de rentabilit\u00e9<\/em>) et un remboursement de 100 \u20ac \u00e0 l\u2019\u00e9ch\u00e9ance (<em>soit 100 % de performance<\/em>) si la soci\u00e9t\u00e9 se r\u00e9tablit en 3 ann\u00e9es est une <strong>tr\u00e8s belle opportunit\u00e9<\/strong>.<\/p><p><strong>\u00ab\u00a0La notion de risque est subjective, propre \u00e0 chacun.\u00a0\u00bb<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-877f321 elementor-widget elementor-widget-heading\" data-id=\"877f321\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Comment r\u00e9agissent les obligations sur le march\u00e9 ? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d7cd6e elementor-widget elementor-widget-text-editor\" data-id=\"1d7cd6e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Outre le risque de d\u00e9faillance de l\u2019entreprise ou de l\u2019Etat,<strong> il faut \u00e9galement tenir compte du march\u00e9 global et notamment des mouvements de taux.<\/strong> Le contexte que nous vivons actuellement avec une forte hausse des taux se traduit, <em>pour les particuliers<\/em>, principalement par une hausse des taux d\u2019emprunts immobiliers. Et <em>pour les entreprises<\/em>, c\u2019est la m\u00eame chose : <span style=\"text-decoration: underline;\">s\u2019endetter co\u00fbte plus cher<\/span>. <strong>Les obligations sont d\u00e9sormais \u00e9mises sur le march\u00e9 avec des taux d\u2019int\u00e9r\u00eats plus \u00e9lev\u00e9s et les investisseurs obtiennent des coupons plus importants.\u00a0<\/strong><\/p><p>Imaginons une obligation de l\u2019entreprise Y achet\u00e9e le 1er Janvier 2022 : <strong>valeur 100 \u20ac et coupon \u00e0 2 \u20ac<\/strong> avec une \u00e9ch\u00e9ance au 1er Janvier 2026. Le gain sur la p\u00e9riode est 8 \u20ac (<em>4 ann\u00e9es de coupon \u00e0 2 \u20ac<\/em>). <br \/>Si on se positionne aujourd\u2019hui, soit un an plus tard, un des coupons a d\u00e9j\u00e0 \u00e9t\u00e9 vers\u00e9, il reste donc 3 ann\u00e9es de coupon \u00e0 2 \u20ac, soit 6 \u20ac \u00e0 percevoir.\u00a0\u00a0<\/p><p>Imaginons maintenant qu\u2019au 1er Janvier 2023, cette m\u00eame entreprise Y \u00e9mette des obligations avec la m\u00eame \u00e9ch\u00e9ance (<em>01\/01\/2026<\/em>) mais d\u00e9sormais avec des coupons \u00e0<strong> 5 \u20ac<\/strong>, compte tenu de la hausse des taux. Le gain jusqu\u2019\u00e0 l\u2019\u00e9ch\u00e9ance est donc de 3 ann\u00e9es de coupon \u00e0 5 \u20ac, soit 15 \u20ac.\u00a0<\/p><p><strong>Que vaut maintenant la premi\u00e8re obligation qui rapporte 6 \u20ac en trois ans, lorsque les investisseurs peuvent avoir, dans les m\u00eames conditions, un placement qui en rapporte 15<\/strong> ? Et bien m\u00e9caniquement, la valeur de la premi\u00e8re obligation va chuter sur le march\u00e9. En cons\u00e9quence, avec \u00ab\u00a0seulement\u00a0\u00bb 6 \u20ac de gain, il faut appliquer une <strong>d\u00e9cote<\/strong> de 9 \u20ac pour retrouver les 15 \u20ac de la nouvelle obligation, soit une valeur de 91 \u20ac sur le march\u00e9.<\/p><p><strong>Ce raisonnement n\u2019a pour objectif que de vulgariser les choses, car, en r\u00e9alit\u00e9, il faudrait prendre en compte les flux et les actualiser.<\/strong> Investir 91 \u20ac, ce n\u2019est pas la m\u00eame chose qu\u2019investir 100 \u20ac et toucher 2 \u20ac par an puis 9 \u20ac, ce n\u2019est pas la m\u00eame chose que toucher 6 \u20ac par an.\u00a0<\/p><p><strong>Par ailleurs, <em>et il est important de le garder \u00e0 l\u2019esprit<\/em>, cette d\u00e9cote peut ne jamais p\u00e9naliser l\u2019investisseur.<\/strong> En effet, il ne perd pas d\u2019argent s\u2019il conserve son obligation jusqu\u2019\u00e0 l\u2019\u00e9ch\u00e9ance. Il aura bien touch\u00e9 2 \u20ac par an puis le remboursement de 100 \u20ac \u00e0 maturit\u00e9. C\u2019est simplement que la hausse des taux a fait baisser la valeur de son obligation sur le march\u00e9 s\u2019il voulait la vendre par anticipation.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d928d8 elementor-widget elementor-widget-heading\" data-id=\"7d928d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Si vous ne deviez retenir qu\u2019une chose : le taux de rendement actuariel<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-528cf5a elementor-widget elementor-widget-text-editor\" data-id=\"528cf5a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>La notion essentielle \u00e0 retenir est celle <strong>du taux de rendement actuariel<\/strong>, qui va prendre en compte la dur\u00e9e et les flux, aussi bien les coupons que le remboursement du capital.\u00a0<\/p><p>Un fonds obligataire \u00e0 \u00e9ch\u00e9ance qui annonce un taux de rendement actuariel de 5 % indique que, sur la p\u00e9riode, l\u2019investisseur aura g\u00e9n\u00e9r\u00e9 une <strong>performance annualis\u00e9e<\/strong> de 5 %, entre le <span style=\"text-decoration: underline;\">paiement des coupons<\/span> et le <span style=\"text-decoration: underline;\">remboursement du capital<\/span>, si aucune entreprise n\u2019a fait d\u00e9faut. Attention, cela ne veut en aucun cas dire que la performance aura \u00e9t\u00e9 de 5 % chaque ann\u00e9e !<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bf81dda elementor-widget elementor-widget-heading\" data-id=\"bf81dda\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Et donc, qu\u2019est-ce qu\u2019un fonds obligataire \u00e0 \u00e9ch\u00e9ance ? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b04b937 elementor-widget elementor-widget-text-editor\" data-id=\"b04b937\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>C\u2019est tout simplement un <strong>panier de plusieurs obligations<\/strong> qui poss\u00e8dent une <span style=\"text-decoration: underline;\">\u00e9ch\u00e9ance tr\u00e8s proche<\/span>. Les fonds portent d\u2019ailleurs tr\u00e8s souvent comme nom,<em> si ce n\u2019est toujours<\/em>, la date de l\u2019\u00e9ch\u00e9ance. <\/p><p>Cette strat\u00e9gie permet de <strong>limiter le risque<\/strong> en ne se positionnant non pas sur une seule entreprise mais sur des dizaines voire des centaines. <\/p><p>Chaque fonds poss\u00e8de sa <strong>propre strat\u00e9gie<\/strong> : en termes de dur\u00e9e, de notation des obligations, de secteur g\u00e9ographique ou encore de secteur \u00e9conomique des entreprises \u00e9mettrices.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e595aec elementor-widget elementor-widget-heading\" data-id=\"e595aec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Le suivi des fonds obligataires <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-622ddff elementor-widget elementor-widget-text-editor\" data-id=\"622ddff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span id=\"docs-internal-guid-573f7c7f-7fff-95c7-902e-49ad2f095ce4\">Apr\u00e8s avoir investi dans un fonds obligataire, deux cas de figures sont possibles : <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-975a71b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"975a71b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-88866e6\" data-id=\"88866e6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4cedf2a elementor-widget elementor-widget-text-editor\" data-id=\"4cedf2a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>Si les taux continuent d\u2019augmenter <\/b>:<\/p><p>La valorisation des fonds obligataires <strong>cr\u00e9\u00e9s avant la hausse<\/strong> aura tendance \u00e0 <strong>baisser<\/strong> et l\u2019investisseur sera potentiellement en moins-value.Il sera donc pr\u00e9f\u00e9rable de <strong>conserver<\/strong> le fonds jusqu\u2019\u00e0 l\u2019\u00e9ch\u00e9ance, pour profiter des coupons et du remboursement du capital. <br \/>L\u2019investisseur touchera donc le <strong>rendement actuariel annonc\u00e9<\/strong>, <em>si aucune entreprise n\u2019a fait d\u00e9faut<\/em>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f1237a6\" data-id=\"f1237a6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f6185a9 elementor-widget elementor-widget-text-editor\" data-id=\"f6185a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>Si les taux stagnent ou baissent <\/b>:<\/p><p><span style=\"background-color: transparent; color: var( --e-global-color-7f9faf9 ); font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform );\">Les fonds obligataires <strong>\u00e9mis avant la stagnation ou baisse<\/strong> vont se <strong>valoriser<\/strong>. Il sera donc pertinent de s&rsquo;interroger : <strong>est-il pr\u00e9f\u00e9rable de prendre les b\u00e9n\u00e9ficies et sortir imm\u00e9diatement ou attendre l\u2019\u00e9ch\u00e9ance<\/strong> ? <br \/>En effet, si le fonds est en plus-value de 10 % et que l&rsquo;esp\u00e9rance de gain sur 3 ans est de 15 %, on peut se demander s\u2019il vaut mieux prendre 10 % tout de suite ou 15 % en 3 ans.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-798c3f8 elementor-widget elementor-widget-spacer\" data-id=\"798c3f8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2744706 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2744706\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-463df8f\" data-id=\"463df8f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70bdf0f elementor-widget elementor-widget-text-editor\" data-id=\"70bdf0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Pour d\u00e9couvrir nos opportunit\u00e9s d&rsquo;investissement en la mati\u00e8re, retrouvez notre article : <a href=\"https:\/\/ad-maiora.fr\/index.php\/2023\/01\/05\/investiren2023\/#prudence\">Nos recommandations d&rsquo;investissement pour 2023 <\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2481a9a elementor-widget elementor-widget-text-editor\" data-id=\"2481a9a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em>Les obligations pr\u00e9sentent un risque de perte en capital, les performances pass\u00e9es ne pr\u00e9sagent pas des performances futures. Seuls les fonds en euros offrent la garantie en capital.\u00a0<\/em><\/p><p><em>Ceci n\u2019est ni une incitation ni un conseil en investissement personnalis\u00e9. Avant tout investissement, il conviendra de s\u2019assurer que votre situation, votre profil de risque, vos objectifs, votre horizon de placement et vos pr\u00e9f\u00e9rences de durabilit\u00e9 sont en ad\u00e9quation avec le produit.\u00a0<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a6e9bc animated-slow pp-dual-heading-inline elementor-invisible elementor-widget elementor-widget-pp-dual-heading\" data-id=\"2a6e9bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;}\" data-widget_type=\"pp-dual-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"pp-dual-heading\"><span class=\"pp-first-text\">Des questions sur cet article ? <\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c89b957 elementor-button-align-stretch elementor-widget elementor-widget-form\" data-id=\"c89b957\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;step_next_label&quot;:&quot;Suivant&quot;,&quot;step_previous_label&quot;:&quot;Pr\\u00e9c\\u00e9dent&quot;,&quot;button_width&quot;:&quot;100&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" data-widget_type=\"form.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"Contact du site Ad-Maiora\" aria-label=\"Contact du site Ad-Maiora\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"2464\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"c89b957\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"\" \/>\n\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-above\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-name\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tNom & pr\u00e9nom\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[name]\" id=\"form-field-name\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Votre nom et pr\u00e9nom\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-tel elementor-field-group elementor-column elementor-field-group-email elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-email\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tT\u00e9l\u00e9phone\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t<input size=\"1\" type=\"tel\" name=\"form_fields[email]\" id=\"form-field-email\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"00 00 00 00 00\" required=\"required\" pattern=\"[0-9()#&amp;+*-=.]+\" title=\"Seuls les caract\u00e8res de num\u00e9ros de t\u00e9l\u00e9phone (#, -, *, etc.) sont accept\u00e9s.\">\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-email elementor-field-group elementor-column elementor-field-group-field_bbf1f2e elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_bbf1f2e\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tE-mail\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"email\" name=\"form_fields[field_bbf1f2e]\" id=\"form-field-field_bbf1f2e\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Votre adresse e-mail\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-textarea elementor-field-group elementor-column elementor-field-group-message elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-message\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tMessage\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t<textarea class=\"elementor-field-textual elementor-field  elementor-size-sm\" name=\"form_fields[message]\" id=\"form-field-message\" rows=\"4\" placeholder=\"Posez votre question\" required=\"required\"><\/textarea>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-group elementor-column elementor-field-type-submit elementor-col-100 e-form__buttons\">\n\t\t\t\t\t<button class=\"elementor-button elementor-size-sm\" type=\"submit\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Envoyer<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/button>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/form>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e85dd60 elementor-section-content-middle elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"e85dd60\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-custom\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e7bdaba elementor-invisible\" data-id=\"e7bdaba\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;slideInUp&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9f0acd2 elementor-widget-divider--view-line_icon elementor-view-default elementor-widget-divider--element-align-center elementor-widget elementor-widget-divider\" data-id=\"9f0acd2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon elementor-divider__element\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" id=\"Calque_1\" x=\"0px\" y=\"0px\" viewBox=\"0 0 500 350.9\" style=\"enable-background:new 0 0 500 350.9;\" xml:space=\"preserve\"><style type=\"text\/css\">\t.st0{fill:#BA7F57;}<\/style><g>\t<path class=\"st0\" d=\"M138.7,201.8c-13.1-5.6-27.9-8.7-43.8-8.7C42.4,193.2,0,228.3,0,271.9c0,43.5,42.4,78.7,94.9,78.7  c15.9,0,30.7-3.1,43.8-8.7c-30.4-13.1-51.4-39.6-51.4-70.1C87.4,241.4,108.3,215.2,138.7,201.8z\"><\/path>\t<path class=\"st0\" d=\"M237.5,314.4c-35.4-41.9-48.4-101-28.8-156.4c5.9-16.5,14.5-31.4,24.9-44.6c-8.9-24.4-32.2-42-59.7-42  c-7.5,0-15.1,1.4-22.1,4.2v41.9v33.2v135.4c0,35.2,28.5,63.6,63.6,63.6c12.2,0,24-3.6,34.2-10c1.7-1.1,3.5-2.1,5.2-3.4l2.8-2.2  C250.3,328.1,243.6,321.5,237.5,314.4z\"><\/path>\t<path class=\"st0\" d=\"M74.7,160.6c24.8,0,44.8-20.1,44.8-44.8c0-24.8-20.1-44.8-44.8-44.8S29.8,91,29.8,115.8  C29.8,140.5,49.9,160.6,74.7,160.6z\"><\/path>\t<path class=\"st0\" d=\"M317.2,164.4c14.8-41.6,47.4-71.7,86-85.1c-71.7-24-149.9,13.7-175.6,85.4c-25.7,72.6,12.3,152.4,84.9,178.1  c31,11.2,63.4,10.3,92.1,0.6c-0.8-0.3-1.7-0.6-2.5-0.8C329.5,316.5,291.5,237,317.2,164.4z\"><\/path>\t<path class=\"st0\" d=\"M413.8,260.3c0,47.5,38,87.2,85.5,87.3c0.2,0,0.5,0,0.7,0V0h-86.2V260.3z\"><\/path><\/g><\/svg><\/div>\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ef0b9e elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ef0b9e\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-custom\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a70e07a\" data-id=\"a70e07a\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-29dc27e elementor-widget elementor-widget-text-editor\" data-id=\"29dc27e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\">blog<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b4799e7 animated-slow pp-dual-heading-inline elementor-invisible elementor-widget elementor-widget-pp-dual-heading\" data-id=\"b4799e7\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;}\" data-widget_type=\"pp-dual-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"pp-dual-heading\"><span class=\"pp-first-text\">Nos <\/span><span class=\"pp-second-text\">r\u00e9dactions<\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80a7923 elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"80a7923\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c5f385 elementor-grid-tablet-1 elementor-posts--align-center elementor-posts__hover-none elementor-grid-3 elementor-grid-mobile-1 elementor-posts--thumbnail-top elementor-widget elementor-widget-posts\" data-id=\"1c5f385\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;cards_columns_tablet&quot;:&quot;1&quot;,&quot;cards_row_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:30,&quot;sizes&quot;:[]},&quot;pagination_type&quot;:&quot;numbers&quot;,&quot;cards_columns&quot;:&quot;3&quot;,&quot;cards_columns_mobile&quot;:&quot;1&quot;,&quot;cards_row_gap_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;cards_row_gap_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"posts.cards\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-posts-container elementor-posts elementor-posts--skin-cards elementor-grid\" role=\"list\">\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-1267 post type-post status-publish format-standard has-post-thumbnail hentry category-financier\" role=\"listitem\">\n\t\t\t<div class=\"elementor-post__card\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/ad-maiora.fr\/index.php\/2022\/09\/08\/article-de-reference-blocs-a-utiliser\/\" tabindex=\"-1\" ><div class=\"elementor-post__thumbnail\"><img decoding=\"async\" width=\"1300\" height=\"1300\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie.png\" class=\"attachment-full size-full wp-image-2537\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie.png 1300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie-300x300.png 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie-1024x1024.png 1024w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie-150x150.png 150w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie-768x768.png 768w\" sizes=\"(max-width: 1300px) 100vw, 1300px\" \/><\/div><\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-1418 post type-post status-publish format-standard has-post-thumbnail hentry category-financier\" role=\"listitem\">\n\t\t\t<div class=\"elementor-post__card\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/ad-maiora.fr\/index.php\/2022\/09\/08\/article-de-reference-blocs-a-utiliser-2\/\" tabindex=\"-1\" ><div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1300\" height=\"1300\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie.png\" class=\"attachment-full size-full wp-image-2541\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie.png 1300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie-300x300.png 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie-1024x1024.png 1024w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie-150x150.png 150w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie-768x768.png 768w\" sizes=\"(max-width: 1300px) 100vw, 1300px\" \/><\/div><\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-1476 post type-post status-publish format-standard has-post-thumbnail hentry category-general\" role=\"listitem\">\n\t\t\t<div class=\"elementor-post__card\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/ad-maiora.fr\/index.php\/2022\/09\/08\/article-de-reference-blocs-a-utiliser-3\/\" tabindex=\"-1\" ><div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1300\" height=\"1300\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie.png\" class=\"attachment-full size-full wp-image-2545\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie.png 1300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie-300x300.png 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie-1024x1024.png 1024w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie-150x150.png 150w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie-768x768.png 768w\" sizes=\"(max-width: 1300px) 100vw, 1300px\" \/><\/div><\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t<div class=\"e-load-more-anchor\" data-page=\"1\" data-max-page=\"8\" data-next-page=\"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2464\/page\/2\/\"><\/div>\n\t\t\t\t<nav class=\"elementor-pagination\" aria-label=\"Pagination\">\n\t\t\t<span aria-current=\"page\" class=\"page-numbers current\"><span class=\"elementor-screen-only\">Page<\/span>1<\/span>\n<a class=\"page-numbers\" href=\"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2464\/page\/2\/\"><span class=\"elementor-screen-only\">Page<\/span>2<\/a>\n<a class=\"page-numbers\" href=\"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2464\/page\/3\/\"><span class=\"elementor-screen-only\">Page<\/span>3<\/a>\n<span class=\"page-numbers dots\">\u2026<\/span>\n<a class=\"page-numbers\" href=\"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2464\/page\/8\/\"><span class=\"elementor-screen-only\">Page<\/span>8<\/a>\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d730c0 elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"9d730c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-efb92e8 elementor-section-content-middle elementor-section-full_width elementor-section-height-min-height elementor-section-height-default elementor-section-items-middle\" data-id=\"efb92e8\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b72888c\" data-id=\"b72888c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5206250 elementor-headline--style-rotate elementor-widget elementor-widget-animated-headline\" data-id=\"5206250\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headline_style&quot;:&quot;rotate&quot;,&quot;animation_type&quot;:&quot;slide&quot;,&quot;rotating_text&quot;:&quot;Nos r\\u00e9dactions \\nNos opportunit\\u00e9s \\nNos recherches&quot;,&quot;loop&quot;:&quot;yes&quot;,&quot;rotate_iteration_delay&quot;:2500}\" data-widget_type=\"animated-headline.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2 class=\"elementor-headline elementor-headline-animation-type-slide\">\n\t\t\t\t\t<span class=\"elementor-headline-plain-text elementor-headline-text-wrapper\">AD maiora<br><\/span>\n\t\t\t\t<span class=\"elementor-headline-dynamic-wrapper elementor-headline-text-wrapper\">\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text elementor-headline-text-active\">\n\t\t\t\tNos&nbsp;r\u00e9dactions&nbsp;\t\t\t<\/span>\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text\">\n\t\t\t\tNos&nbsp;opportunit\u00e9s&nbsp;\t\t\t<\/span>\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text\">\n\t\t\t\tNos&nbsp;recherches\t\t\t<\/span>\n\t\t\t\t\t\t<\/span>\n\t\t\t\t<\/h2>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-efc2e68 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"efc2e68\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-33522d2\" data-id=\"33522d2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-03922db elementor-section-height-min-height elementor-section-boxed elementor-section-height-default\" data-id=\"03922db\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-66b98ca\" data-id=\"66b98ca\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b678d9a elementor-widget elementor-widget-text-editor\" data-id=\"b678d9a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\">et si on parlait<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36a4a9c animated-slow pp-dual-heading-inline elementor-invisible elementor-widget elementor-widget-pp-dual-heading\" data-id=\"36a4a9c\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;}\" data-widget_type=\"pp-dual-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"pp-dual-heading\"><span class=\"pp-first-text\">de vos<\/span><span class=\"pp-second-text\"> projets<\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7ab839f\" data-id=\"7ab839f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-62aa665 elementor-align-left elementor-widget elementor-widget-button\" data-id=\"62aa665\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-lg\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-comment\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">parlons-en<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<footer class=\"elementor-section elementor-top-section elementor-element elementor-element-7b3560e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7b3560e\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d3e2855\" data-id=\"d3e2855\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-718a07b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"718a07b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-custom\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-073f1d4\" data-id=\"073f1d4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7714120 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"7714120\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" id=\"Calque_1\" x=\"0px\" y=\"0px\" viewBox=\"0 0 500 350.9\" style=\"enable-background:new 0 0 500 350.9;\" xml:space=\"preserve\"><style type=\"text\/css\">\t.st0{fill:#BA7F57;}<\/style><g>\t<path class=\"st0\" d=\"M138.7,201.8c-13.1-5.6-27.9-8.7-43.8-8.7C42.4,193.2,0,228.3,0,271.9c0,43.5,42.4,78.7,94.9,78.7  c15.9,0,30.7-3.1,43.8-8.7c-30.4-13.1-51.4-39.6-51.4-70.1C87.4,241.4,108.3,215.2,138.7,201.8z\"><\/path>\t<path class=\"st0\" d=\"M237.5,314.4c-35.4-41.9-48.4-101-28.8-156.4c5.9-16.5,14.5-31.4,24.9-44.6c-8.9-24.4-32.2-42-59.7-42  c-7.5,0-15.1,1.4-22.1,4.2v41.9v33.2v135.4c0,35.2,28.5,63.6,63.6,63.6c12.2,0,24-3.6,34.2-10c1.7-1.1,3.5-2.1,5.2-3.4l2.8-2.2  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class=\"pp-first-text\">AD<\/span><span class=\"pp-second-text\">MAIORA<\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-8a98dd5 elementor-hidden-mobile elementor-hidden-tablet\" data-id=\"8a98dd5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-69a1f96 elementor-widget elementor-widget-text-editor\" data-id=\"69a1f96\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Conseiller en investissement financier et courtier d&rsquo;assurance enregistr\u00e9 au Registre unique des interm\u00e9diaires en assurance, banque et finance sous le num\u00e9ro 22004293 (www.orias.fr) en qualit\u00e9 d&rsquo;adh\u00e9rent de la<br \/>Chambre nationale des conseils en gestion de patrimoine,<br \/>association agr\u00e9\u00e9e par l\u2019Autorit\u00e9 des march\u00e9s financiers.<\/p><p>SAS au capital social de 1.000 euros<\/p><p>Immatricul\u00e9e au Registre du Commerce et des Soci\u00e9t\u00e9s de Grenoble sous le num\u00e9ro 915 349 518 RCS GRENOBLE<\/p><p>Si\u00e8ge social situ\u00e9 au 29 Rue des Glairaux 38120 Saint-Egr\u00e8ve<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-14be11e\" data-id=\"14be11e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b692c19 elementor-widget elementor-widget-heading\" data-id=\"b692c19\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Follow Us<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8753da4 elementor-shape-circle e-grid-align-right elementor-grid-0 elementor-widget elementor-widget-social-icons\" data-id=\"8753da4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\" role=\"list\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-linkedin elementor-repeater-item-43eca71\" href=\"https:\/\/www.linkedin.com\/company\/ad-maiora-gestion-de-patrimoine\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Linkedin<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-linkedin\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-instagram elementor-repeater-item-d550229\" href=\"https:\/\/instagram.com\/ad_maiora_patrimoine?igshid=YmMyMTA2M2Y=\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Instagram<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-instagram\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook-f elementor-repeater-item-9758c9c\" href=\"https:\/\/www.facebook.com\/ADMAIORAGestiondePatrimoine\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook-f<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-facebook-f\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c03ef3e elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c03ef3e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-64c8b44\" data-id=\"64c8b44\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9989bc7 elementor-widget elementor-widget-text-editor\" data-id=\"9989bc7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>AD MAIORA \u2022 Gestion de patrimoine \u2022 Tous droits r\u00e9serv\u00e9s \u2022 2022<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e0a2783\" data-id=\"e0a2783\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8f39abe elementor-widget elementor-widget-text-editor\" data-id=\"8f39abe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>AD MAIORA <span style=\"color: #ff0000;\">\u2764<\/span><strong> <a href=\"mailto: sodagraphique@gmail.com\">SodaGraphique<\/a><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/footer>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>AD maiora Nos&nbsp;r\u00e9dactions&nbsp; Nos&nbsp;opportunit\u00e9s&nbsp; Nos&nbsp;recherches \u00ab\u00a0Vers de plus grands projets\u00a0\u00bb Les fonds obligataires &#8211;<\/p>\n","protected":false},"author":1,"featured_media":2543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_canvas","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-2464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financier"],"_links":{"self":[{"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/comments?post=2464"}],"version-history":[{"count":0,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/media\/2543"}],"wp:attachment":[{"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/media?parent=2464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/categories?post=2464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/tags?post=2464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}