Groupama soft-closes €1.1bn European mid-small cap equities fund
Groupama Asset Management has decided to soft close the Groupama Avenir Euro fund, which has grown to a size of €1.1bn, in order to protect the fund’s investment strategy.
The move means limiting the subscription inflows and imposing a fee of 10% maximum on all new investors.
Partial limits on subscriptions of this Eurozone small and mid cap mutual fund are implemented to “protect the interests of the existing shareholders”, so the French asset manager is able to continue “actively developing its investment strategy”.
“Launched in 1994, this fund has seen a major inflow of subscriptions over the last four years since coming under the management of Cyrille Carrière, deputy head of Equities and Convertibles. Its total assets under management increased from €75m in 2012 to €1.1bn today. This significant inflow is testimony to the management model developed by Cyrille Carrière, who applies a pure stock-picking approach,” said Jean-Marie Catala, deputy CEO of Groupama.
Almost two years ago, Groupama launched the fund G Fund Avenir Europe, which is managed by the same team.
The stock selection process of this second fund is identical to that of Groupama Avenir Euro, but the investment universe has been expanded to cover the whole of Europe. This means that the management team can, in particular, invest in small and mid caps in the UK, the Nordic countries or Switzerland.