French Value equities
The US and emerging markets are soaring, while European indices are recovering slowly. Earnings reports for companies in the Eurozone were positive overall, and confirm earnings projections for 2017. After tension over recent months, bond yields are falling again, despite the increase in inflation statistics. Investors are still obsessed with European political risks, particularly concerns over a surge in populist sentiment at the forthcoming French elections.
Centifolia has gained 0.25% since the start of the year vs. -0.05% for the CAC40 net return. The earnings reporting season was fairly...
5-year annualized performance
Recommended minimum investment horizon
Jean-Charles Mériaux is a graduate of HEC Paris School of Management.
After starting his career at Crédit Foncier de France, he joined Oddo & Cie in 1987. In 1994, he joined LCF Edmond Rothschild Asset Management, where he became a member of the Executive Board and Head of French and European Equities Management. He launched and managed funds Tricolore Rendement and Saint-Honoré Convertibles.
He joined DNCA in October 2002 as managing partner and portfolio manager of Eurose and Centifolia. In October 2005 he became Chief Investment Officer of DNCA.
Igor de Maack graduated from HEC Paris School of Management and is a qualified member of the French financial analysts' association (SFAF) and also holds a postgraduate specialist diploma in International Taxation.
He began his career at Deloitte & Touche. In 1998, he joined the Project Financing department at BNP Paribas. In 2002, he moved to IXIS where he headed the group’s participation in the financing project for the A 28 motorway, then joined the equity research team at Ixis Securities and became senior Vice President of primary equity markets at Lazard-lxis.
He joined DNCA Finance in 2007 as an infrastructures portfolio manager.
Marie-Claire Mainka is a graduate of the ISG international business school and a qualified member of the SFAF (French Society of Financial Analysts).
She began her career as a financial analyst, spending 10 years at Ferri and then moving to Natwest. She then worked in European equity sales at Citigroup and RBS.
In May 2015, she joined DNCA Finance as an analyst.
|CAC 40 NR||+3.63%||+2.99%||+4.11%||+12.67%||+16.68%||+4.52%||+64.24%||+171.22%||+7.67%|
This fund – which is eligible for the PEA scheme – has a “value” approach applied to French equities. Security selection is oriented towards companies deemed undervalued that have good potential for rising in value. The portfolio's construction highlights defensive equities to reduce risk.
The fund seeks to outperform the CAC 40 calculated with dividends reinvested, over the recommended investment timeframe of five years.
French equities (minimum 75%)
The fund targets clients seeking to invest in the French equity market via French share savings plans (PEA) and who can hold their investment for the recommended investment timeframe.
Pricing : Daily
Fund Legal Type : FCP
Country Of Domicile : FR
Min Subscription Amount :
Min Subscription Shares :
Subscription Fees : 3% max
Performance fee : 0% of the positive performance net of any fees above CAC 40 NR
This fund is eligible for French PEA personal equity plans. Please consult your usual financial advisor for further information.
The above information is not a confirmation of any transaction and does not comprise investment advice. Past performances are not a reliable indicator of future performances. Management fees are included in performances. Access to products and services presented may be restricted regarding certain persons or countries. Tax treatment depends on the individual situation of each investor. For full information regarding strategies and fees, please refer to the prospectus, KIID documents and other regulatory information available on this website or free of charge on demand from the investment management company’s registered offices.