Paris-based investment firm Sanso Investment Solutions (Sanso IS), which will soon open an office in Geneva, has announced the absorption of its European equity fund Sanso Europe Convictions by its diversified fund Maxima as from 11 October 2017, InvestmentEurope has learned.
The merger, approved by French financial market watchdog AMF, will enable growth in assets under management of Sanso IS’s Maxima strategy as well as greater conditions of fund management and intervention on markets, the firm said in a shareholder letter.
The Maxima fund can be invested up to 150% of its net assets in global and European equities while the absorbed strategy’s exposure to the asset class was comprised between 60% and 100%.
As of 31 July 2017, the equity’s exposure of the Maxima fund was 89.7%.
Sanso IS’s Maxima fund aims to outperform the Eurostoxx 50 index by 6% (annualised) over a five-year rolling period.
Sanso IS was born of the merger between Cedrus AM, 360 Hixance and Amaika Asset Management in June 2017. The firm has assets under management of €650m.