Paris-based boutique Amplegest has converted its Amplegest Midcaps fund, focused on French smid caps and launched in November 2007, into a French Sicav, InvestmentEurope can reveal.
This forms a new milestone for the firm that has recently hit the €1bn threshold in assets under management, of which €132.8m were managed in the Amplegest Midcaps fund as at end of October 2017.
Its portfolio manager, Augustin Bloch-Lainé (pictured), was portrayed in the May 2016 edition of InvestmentEurope. Bloch-Lainé described its process to that of a private equity fund, looking at around 150 stocks of which 40 will be held in portfolio. Amplegest’s manager considers some 20 new stocks a year but only five or six enter the fund.
The fund aims to outperform the CAC Mid & Small NR index over a rolling period of five years. Since inception in November 2007, it has returned 209,4% against 122,9% for its benchmark over the same period.
The top five positions of Amplegest Midcaps, as of 31 October 2017, were Ingenico Group (5,05%), Groupe Fnac (4,38%), Sopra Steria Group (4,17%), Devoteam (3,81%) and Showroomprivé (3,45%).
A number of firms have converted their fund range into French Sicavs in recent months, including Flornoy & Associés Gestion and Financière Arbevel.