Oddo BHF Asset Management has announced the launch of a new micro-cap fund, aimed at offering investors access to so called “hidden” champions” in Germany, France and other European countries.
The new fund, which is managed by Guillaume Chieusse, invests in a selection of 60 titles with a market capitalisation between €75m and €750m. Overall, the fund’s universe includes about 850 different companies.
“We consider the micro-cap sector to be a valuable asset for our clients”comments Guillaume Chieusse, who heads the All Cap and Small Cap Opportunities Department at Oddo BHF. “Micro caps have outperformed European large caps by 60% over the last five years, at significantly lower levels of volatility” he stresses.
The fund is aimed at complementing Oddo’s existing equity offering, which includes the Oddo Active Smaller Companies and the Oddo Active Equities funds which are also managed by Chieusse.
The former fund initially applied a subscription fee and subsequently hard closed last Friday because it reached its maximum size of €580m, a spokesperson for Oddo BHF confirmed to InvestmentEurope.
While the new micro-cap fund has not yet specified a maximum capacity, it is likely to be restricted to a maximum volume around €150m, Oddo BHF confirmed to InvestmentEurope.