Paris quant boutique scraps entire fund range

French quantitative asset manager Sagara Financière has liquidated its entire fund range, InvestmentEurope has learned.

That includes the Sagara US Equity Premium, whose liquidation dates back to 25 May 2018, the Sagara Patrimonial fund and the Sagara Europe Equity fund liquidated on 29 June 2018 and on 5 July 2018 respectively.

The boutique, which has one year of existence, said in a shareholder letter that the strategy of the Sagara US Equity Premium fund did not correspond no more to the firm’s development strategy that seeks yield on European large and mid-cap equities with highest risk premiums and with a sector diversification.

The Sagara Patrimonial fund, a mixed fund holding 11 assets reflecting exposure to equity, fixed income, monetary markets and gold, had only been launched in March 2018.

Regarding the Sagara Europe Equity fund, which was the first ever launched by the Paris boutique in September 2017, the firm explained in a letter to investors that an important shareholder of the fund has withdrawn its assets from the fund, making the fund’s assets under management passing below the minimum legal and operational threshold.

Sagara Financière has seen the departure of partner and private wealth manager Jean Raoul-Duval in June 2018, having been less than one year with the firm. It is understood Raoul-Duval joined Financière Arbevel as private wealth manager in July.

An absolute return fund was also being developed by the firm.

Approached for a comment, the firm did not respond by the time of the publication.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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