France beckons Finland’s Evli
Finnish wealth and asset manager Evli has launched two Ucits funds in France with third party marketing firm Compagnie Financière Jacques Coeur.
Evli Bank, the Finnish independent investment and asset management company headquartered in Helsinki, has moved to make two of its Ucits funds available in the French market.
The two funds are part of a total of 25 that the company currently manages. Petter Von Bonsdorff, partner at Evli Bank, says the development involves two of the top performing funds from its range.
“Together with Compagnie Financière Jacques Coeur’s (CFJC), we launched the international distribution of two of our Ucits top performer funds for sale in France. One is based on a European equity strategy and one on a European and Nordic corporate bond strategy. We are mainly targeting institutional investors in Europe.”
Why France? Because the “French market expresses a very good mix of extremely sophisticated investors. It is easy to see who you would like to target and where you think the investors might be,” claims Von Bonsdorff.
He adds: “The way we are managing our funds is quite appealing and very active. I have a good feeling
that our fund performance combined with their low volatility will make the difference to French investors when comparing to other funds on the French market.”
Evli Europe, the Finnish bank’s European equity strategy fund, is based on investing in undervalued
companies with good long term cash flow and strong debt coverage. The expected aim is a return
exceeding the benchmark index MSCI Europe TR Net which includes 600 companies from 18 different
sectors – over a period of more than three years. The fund claims about €400m in assets.
Evli Corporate Bond is a long-term corporate bond fund invested mainly in euro denominated bonds issued by European companies. Evli seeks both higher and lower rated bonds in which to invest, allocating 75% of the assets to investment grade bonds and 25% to high yield. The fund aims for a long term return exceeding its benchmark of Merrill Lynch EMU Corporate Index 75% and Merrill Lynch Euro High Yield BB-B Rated Constrained Index 25%.
Von Bonsdorff explains further: “We have strategies set for 2020 which include that among other things, we want to increase our current AUM figure of €8.4bn. We cannot reach this goal by only growing in Finland, that’s why we turned outside to France.”
In 2014, Evli was eyeing Italian institutions for expansion. Van Bonsdorff says: “We have been trying to launch our services in Italy for the past two years and it took us a little while to adjust our business mentality to the local one and understand what the best way to go about it was.”
When asked about other expansion plans, Von Bonsdorff replies: “We started off with France. We may
look at Spain and at Italy and probably other countries but we are gradually building the business in line with the local regulations and clients’ appetite.”
Evli Bank, established in 1985, provides wealth management, equity and derivatives brokerage,
investment research and corporate finance services targeting private investors, entrepreneurs and institutions.
Finland, Sweden, Russia, Estonia and Lithuania appear among Evli’s main markets.