Paris-based investment firm Raymond James Asset Management International (RJAMI) has launched the Raymond James Europe Flex fund on 29 September 2017, InvestmentEurope can reveal.
The France-domiciled fund can be invested between 0 to 100% on European equities of all capitalisations sizes and relies on the firm’s cross thematic approach, as stocks are picked in function of the major themes highlighted in RJAMI’s global macro-economic scenario.
Speaking to InvestmentEurope, co-portfolio managers Louis De Fels and Edwin Faure, who also manage the Raymond James MicroCaps and the Raymond James SmallCaps funds, say that investors are given more flexibility as the portfolio is not constrained to be fully invested and more diversification as the fund can be invested from micro to large caps. It also provides a rigorous risk control through RJAMI’s quantitative proprietary tools.
The pair’s outlook for European smid caps, a segment that has been arousing investors’ appetite in recent times, remains very positive for the end of the year.
“The economic perspectives for the eurozone are positive: the economic growth in the Q2 17 reached 2.3% yoy; the outlook remains favourable and could be well between 1.8% and 2.0% for 2017. In the meantime, the PMI Composite for the European area are well oriented, at 56.7 for the month of September. Furthermore, the European smid caps would be less impacted by the currencies fluctuations and raw materials prices, as they serve a more domestic market and are more present in IT services which benefit from the digital transformation currently taking place.
“We are confident in the ability of the smid caps to release encouraging results in Q4 2017. Yet we remain cautious due to high valuation we observe on the market – we therefore are even more careful in our stock picking,” explain De Fels and Faure.
RJAMI was established in 1995 and is part of US financial group Raymond James.