{"id":3730,"date":"2025-06-28T13:00:09","date_gmt":"2025-06-28T13:00:09","guid":{"rendered":"https:\/\/avefi.com\/?p=3730"},"modified":"2025-06-28T13:03:55","modified_gmt":"2025-06-28T13:03:55","slug":"liquidites","status":"publish","type":"post","link":"http:\/\/avefi.com\/?p=3730","title":{"rendered":"Liquidit\u00e9s&#8230;comment g\u00e9rer?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3730\" class=\"elementor elementor-3730\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3f7679a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3f7679a\" 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-100 elementor-top-column elementor-element elementor-element-f7e3d50\" data-id=\"f7e3d50\" 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-5b797b7 elementor-widget elementor-widget-text-editor\" data-id=\"5b797b7\" 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<h1 data-start=\"112\" data-end=\"178\"><strong data-start=\"114\" data-end=\"178\">D\u00e9tenir trop de liquidit\u00e9s : le pi\u00e8ge du manque de rendement<\/strong><\/h1><p data-start=\"180\" data-end=\"536\">Dans un contexte de forte incertitude, il peut sembler rassurant de conserver une part importante de son patrimoine en <strong data-start=\"299\" data-end=\"313\">liquidit\u00e9s<\/strong>. Pourtant, un <strong data-start=\"328\" data-end=\"351\">exc\u00e8s de tr\u00e9sorerie<\/strong> entra\u00eene des co\u00fbts cach\u00e9s et prive l\u2019investisseur de rendements potentiels. Cet article d\u00e9taille les <strong data-start=\"453\" data-end=\"464\">dangers<\/strong>, les <strong data-start=\"470\" data-end=\"494\">m\u00e9canismes d\u2019\u00e9rosion<\/strong> et propose des <strong data-start=\"510\" data-end=\"535\">pistes d\u2019optimisation<\/strong>.<\/p><hr data-start=\"538\" data-end=\"541\" \/><h2 data-start=\"543\" data-end=\"588\">1. Les dangers d\u2019un exc\u00e9dent de liquidit\u00e9s<\/h2><h3 data-start=\"590\" data-end=\"619\">1.1 L\u2019\u00e9rosion mon\u00e9taire<\/h3><p data-start=\"620\" data-end=\"1012\">Lorsque l\u2019<strong data-start=\"630\" data-end=\"643\">inflation<\/strong> d\u00e9passe le taux de r\u00e9mun\u00e9ration des comptes courants et livrets, chaque euro non investi perd de son pouvoir d\u2019achat. Selon l\u2019<strong data-start=\"770\" data-end=\"777\">ECB<\/strong>, les bas taux d\u2019int\u00e9r\u00eat r\u00e9duisent le co\u00fbt d\u2019opportunit\u00e9 de d\u00e9tenir des liquidit\u00e9s mais augmentent simultan\u00e9ment le risque de pertes de capital sur les obligations ou actions si les taux remontent .<\/p><h3 data-start=\"1014\" data-end=\"1045\">1.2 Le co\u00fbt d\u2019opportunit\u00e9<\/h3><p data-start=\"1046\" data-end=\"1147\">D\u00e9tenir de la tr\u00e9sorerie, c\u2019est renoncer aux <strong data-start=\"1091\" data-end=\"1105\">rendements<\/strong> offerts par d\u2019autres classes d\u2019actifs :<\/p><ul data-start=\"1148\" data-end=\"1478\"><li data-start=\"1148\" data-end=\"1239\"><p data-start=\"1150\" data-end=\"1239\"><strong data-start=\"1150\" data-end=\"1189\">Obligations d\u2019\u00c9tat ou d\u2019entreprises<\/strong> \u00e0 court terme (taux rares autour de 3 % \u00e0 4 %).<\/p><\/li><li data-start=\"1240\" data-end=\"1362\"><p data-start=\"1242\" data-end=\"1362\"><strong data-start=\"1242\" data-end=\"1262\">Fonds mon\u00e9taires<\/strong> ou <strong data-start=\"1266\" data-end=\"1289\">SICAV de tr\u00e9sorerie<\/strong>, offrant une r\u00e9mun\u00e9ration l\u00e9g\u00e8rement sup\u00e9rieure aux d\u00e9p\u00f4ts classiques.<\/p><\/li><li data-start=\"1363\" data-end=\"1478\"><p data-start=\"1365\" data-end=\"1478\"><strong data-start=\"1365\" data-end=\"1387\">Actions dividendes<\/strong> et <strong data-start=\"1391\" data-end=\"1412\">OPCVM diversifi\u00e9s<\/strong>, avec un potentiel de rendement \u00e0 long terme de 6 % \u00e0 8 % annuel.<\/p><\/li><\/ul><hr data-start=\"1480\" data-end=\"1483\" \/><h2 data-start=\"1485\" data-end=\"1524\">2. M\u00e9canismes d\u2019\u00e9rosion de la valeur<\/h2><h3 data-start=\"1526\" data-end=\"1564\">2.1 Inflation et pouvoir d\u2019achat<\/h3><p data-start=\"1565\" data-end=\"1781\">En France, l\u2019inflation s\u2019est maintenue \u00e0 pr\u00e8s de 2 % fin 2024, alors que le Livret A plafonne \u00e0 3 % brut. Une poche de liquidit\u00e9s non plac\u00e9e perd donc presque tout son gain r\u00e9el <span class=\"\" data-state=\"closed\"><span class=\"ms-1 inline-flex max-w-full items-center relative top-[-0.094rem] animate-[show_150ms_ease-in]\"><a class=\"flex h-4.5 overflow-hidden rounded-xl px-2 text-[9px] font-medium text-token-text-secondary! bg-[#F4F4F4]! dark:bg-[#303030]! transition-colors duration-150 ease-in-out\" href=\"https:\/\/www.banque-france.fr\/fr\/statistiques\/themes-statistiques-et-series-webstat-associees\/inflation?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noopener\"><span class=\"relative start-0 bottom-0 flex h-full w-full items-center\"><span class=\"flex h-4 w-full items-center justify-between overflow-hidden\"><span class=\"max-w-full grow truncate overflow-hidden text-center\">banque-france.fr<\/span><\/span><\/span><\/a><\/span><\/span>.<\/p><h3 data-start=\"1783\" data-end=\"1834\">2.2 Exc\u00e8s de liquidit\u00e9 et formation de bulles<\/h3><p data-start=\"1835\" data-end=\"2245\">Un rapport de la <strong data-start=\"1852\" data-end=\"1872\">Banque de France<\/strong> montre que dans un tiers des situations o\u00f9 la liquidit\u00e9 d\u00e9passe durablement son niveau de tendance, on observe ensuite une forte hausse des prix d\u2019actifs \u2013 signe d\u2019une <strong data-start=\"2041\" data-end=\"2062\">bulle sp\u00e9culative<\/strong> . Les capitaux dormants, en qu\u00eate de placements, peuvent ainsi d\u00e9clencher des mouvements excessifs d\u00e8s qu\u2019ils sortent de leur \u00ab refuge liquide \u00bb.<\/p><hr data-start=\"2247\" data-end=\"2250\" \/><h2 data-start=\"2252\" data-end=\"2291\">3. Cons\u00e9quences pour le portefeuille<\/h2><h3 data-start=\"2293\" data-end=\"2327\">3.1 Stagnation du patrimoine<\/h3><p data-start=\"2328\" data-end=\"2613\">Un m\u00e9nage fran\u00e7ais dispose de pr\u00e8s de 20 % de son \u00e9pargne en liquidit\u00e9s non productives, selon la <strong data-start=\"2426\" data-end=\"2446\">Banque de France<\/strong> . Si ces fonds \u00e9taient r\u00e9partis sur un panier \u00e9quilibr\u00e9 d\u2019actifs, le rendement annuel moyen pourrait s\u2019am\u00e9liorer de 2 \u00e0 3 points.<\/p><h3 data-start=\"2615\" data-end=\"2640\">3.2 Impact soci\u00e9tal<\/h3><p data-start=\"2641\" data-end=\"2945\">Le <strong data-start=\"2644\" data-end=\"2670\">consommation stagnante<\/strong> en France s\u2019explique en partie par cette propension \u00e0 th\u00e9sauriser : en juin 2024, malgr\u00e9 une baisse de l\u2019inflation, la consommation des m\u00e9nages est rest\u00e9e atone, traduisant une pr\u00e9f\u00e9rence pour le liquide qui bride la relance \u00e9conomique<\/p><hr data-start=\"2947\" data-end=\"2950\" \/><h2 data-start=\"2952\" data-end=\"2989\">4. Alternatives et recommandations<\/h2><h3 data-start=\"2991\" data-end=\"3028\">4.1 Diversifier progressivement<\/h3><ol data-start=\"3029\" data-end=\"3353\"><li data-start=\"3029\" data-end=\"3124\"><p data-start=\"3032\" data-end=\"3124\"><strong data-start=\"3032\" data-end=\"3060\">Mon\u00e9taire et court terme<\/strong> (10\u201320 %) : fonds mon\u00e9taires, titres de cr\u00e9ances n\u00e9gociables.<\/p><\/li><li data-start=\"3125\" data-end=\"3208\"><p data-start=\"3128\" data-end=\"3208\"><strong data-start=\"3128\" data-end=\"3143\">Obligataire<\/strong> (20\u201330 %) : obligations d\u2019\u00c9tat 2\u20135 ans, obligations corporate.<\/p><\/li><li data-start=\"3209\" data-end=\"3279\"><p data-start=\"3212\" data-end=\"3279\"><strong data-start=\"3212\" data-end=\"3238\">Actions et diversifi\u00e9s<\/strong> (30\u201340 %) : trackers, OPCVM flexibles.<\/p><\/li><li data-start=\"3280\" data-end=\"3353\"><p data-start=\"3283\" data-end=\"3353\"><strong data-start=\"3283\" data-end=\"3299\">Actifs r\u00e9els<\/strong> (10\u201320 %) : immobilier via SCPI, or, infrastructures.<\/p><\/li><\/ol><h3 data-start=\"3355\" data-end=\"3381\">4.2 Outils pratiques<\/h3><ul data-start=\"3382\" data-end=\"3660\"><li data-start=\"3382\" data-end=\"3462\"><p data-start=\"3384\" data-end=\"3462\"><strong data-start=\"3384\" data-end=\"3407\">Ordres automatiques<\/strong> d\u2019investissement progressif (Dollar Cost Averaging).<\/p><\/li><li data-start=\"3463\" data-end=\"3576\"><p data-start=\"3465\" data-end=\"3576\"><strong data-start=\"3465\" data-end=\"3514\">Alertes de ratio Liquidit\u00e9s \/ Investissements<\/strong> : conserver une tr\u00e9sorerie-cible (ex. 5 % du portefeuille).<\/p><\/li><li data-start=\"3577\" data-end=\"3660\"><p data-start=\"3579\" data-end=\"3660\"><strong data-start=\"3579\" data-end=\"3597\">Suivi r\u00e9gulier<\/strong> via un tableau de bord patrimonial (allocation, performances).<\/p><\/li><\/ul><hr data-start=\"3662\" data-end=\"3665\" \/><h2 data-start=\"3667\" data-end=\"3683\">5. Conclusion<\/h2><p data-start=\"3685\" data-end=\"4033\">La <strong data-start=\"3688\" data-end=\"3701\">liquidit\u00e9<\/strong> est n\u00e9cessaire pour faire face aux impr\u00e9vus, mais <strong data-start=\"3752\" data-end=\"3763\">l\u2019exc\u00e8s<\/strong> freine la croissance de votre patrimoine et peut m\u00eame contribuer \u00e0 des d\u00e9s\u00e9quilibres de march\u00e9. Une <strong data-start=\"3864\" data-end=\"3887\">strat\u00e9gie dynamique<\/strong>, alliant <strong data-start=\"3897\" data-end=\"3909\">s\u00e9curit\u00e9<\/strong> et <strong data-start=\"3913\" data-end=\"3926\">rendement<\/strong>, permet de tirer parti de toutes les opportunit\u00e9s tout en pr\u00e9servant une poche de tr\u00e9sorerie suffisante.<\/p><hr data-start=\"4035\" data-end=\"4038\" \/><h3 data-start=\"4040\" data-end=\"4068\">\ud83d\udccc <strong data-start=\"4047\" data-end=\"4066\">Nos coordonn\u00e9es<\/strong><\/h3><p data-start=\"4069\" data-end=\"4231\"><strong data-start=\"4069\" data-end=\"4078\">AVEFI<\/strong><br data-start=\"4078\" data-end=\"4081\" \/>18 bis rue Am\u00e9lie \u2013 75007 Paris<br data-start=\"4112\" data-end=\"4115\" \/>M\u00e9tro : ligne 8 La Tour-Maubourg | RER C : Invalides<br data-start=\"4167\" data-end=\"4170\" \/>\u260e 01 77 13 78 35 | \ud83d\udce7 <a class=\"cursor-pointer\" rel=\"noopener\" data-start=\"4192\" data-end=\"4209\">contact@avefi.com<\/a> | <a class=\"cursor-pointer\" rel=\"noopener\" data-start=\"4212\" data-end=\"4229\">gestion@avefi.com<\/a><\/p><hr data-start=\"4233\" data-end=\"4236\" \/><h3 data-start=\"4238\" data-end=\"4267\">\u26a0\ufe0f <strong data-start=\"4245\" data-end=\"4265\">Mentions l\u00e9gales<\/strong><\/h3><p data-start=\"4268\" data-end=\"4598\">Investir comporte des risques ; les rendements pass\u00e9s ne garantissent pas les performances futures. Il est recommand\u00e9 de bien comprendre les caract\u00e9ristiques du produit avant d\u2019investir.<br data-start=\"4454\" data-end=\"4457\" \/>Cette publication est informative et publicitaire. Pour plus de renseignements, contactez-nous.<br data-start=\"4552\" data-end=\"4555\" \/>\ud83d\udc49 Pour vous d\u00e9sabonner : <a class=\"cursor-pointer\" rel=\"noopener\" data-start=\"4581\" data-end=\"4598\">contact@avefi.com<\/a><\/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>\n\t\t","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3730","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/avefi.com\/index.php?rest_route=\/wp\/v2\/posts\/3730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/avefi.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/avefi.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/avefi.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/avefi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3730"}],"version-history":[{"count":4,"href":"http:\/\/avefi.com\/index.php?rest_route=\/wp\/v2\/posts\/3730\/revisions"}],"predecessor-version":[{"id":3734,"href":"http:\/\/avefi.com\/index.php?rest_route=\/wp\/v2\/posts\/3730\/revisions\/3734"}],"wp:attachment":[{"href":"http:\/\/avefi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/avefi.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3730"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/avefi.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}