French media launches equity fund with Palatine AM
French weekly trade publication Investir, owned by financial media group Les Echos, has launched a French equity fund, Investir PEA Palatine, together with Palatine Asset Management on 16 March.
Investir publishes four lists of ten favourite stocks on a regular basis (large caps, mid caps, global caps, value stocks). Palatine AM takes into account the stock selection of Investir for the management of the fund but the approach will remain flexible as the fund will not replicate the magazine’s equity lists and could pick other stocks.
The fund aims to outperform the CAC40 index net dividends reinvested and is eligible to the French PEA scheme. It will be invested at more than 90% in equities, mostly French securities.
In an interview with Investir, Palatine AM’s board chairman Daniel Hartog said the fund will have around 40 stocks and that it will not be equally-weighted like Investir‘s lists. In addition, the management team can keep stocks that have been removed from the lists.
Palatine AM manages €4.5bn in assets across 60 funds, with over half of its AUM invested in stocks. It is the subsidiary of Banque Palatine, a branch of French banking group BPCE.