Sycomore secures small and mid-cap mandate from France’s Pensions Reserve Fund
The Fonds de Réserve pour les Retraites (FRR) has awarded Sycomore Asset Management an estimated EUR60m French small and mid-cap mandate.
“We are delighted with this new success, especially as Sycomore AM is the only specialised, independent investment boutique in the five firms selected,” says Laurent Deltour, chairman and founder of Sycomore AM.
In 2001, Sycomore AM launched Sycomore Francecap, a stock-picking fund specialised in French companies with a significant small and mid cap bias of around 50 per cent. The fund has returned 278.8 per cent since launch vs. 71.9 per cent for its benchmark, the CAC All Tradable NR (dividends reinvested).
In 2003, Sycomore AM launched Synergy Smaller Cies, which focuses on European small caps. It benefits from the expertise of local independent investment firms in Germany, Italy, Spain, Eastern Europe and Benelux.
More recently, it launched Sycomore Sélection PME, which is eligible for the PEA PME (French SME equity savings scheme).
The FRR mandate will be at least 85 per cent invested in French small and mid-cap companies capitalising less than EUR10bn.
“As with all our investments, our stock-selection process will include financial and extra-financial criteria," says Léa Dunand-Châtellet, fund manager and head of extra-financial research.
The appointment follows on from the EUR150m mandate from ERAFP at the end of 2013.
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