Paris-based boutique Flornoy & Associés Gestion has become the third asset manager to convert its FCPs (fonds commun de placement) into French Sicavs after Métropole Gestion and Financière Arbevel, InvestmentEurope can reveal.
The company has been granted the Sicav agreement by French regulator AMF for the Flornoy Valeurs Familiales and the Flornoy Allocation funds.
The Flornoy Valeurs Familiales fund, launched in March 2012, invests in stocks of European family businesses based in the European Union and is run by the boutique’s founding partner, chairman and chief investment officer Olivier Flornoy. The strategy seeks to outperform the Stoxx Europe 600 index.
As for the Flornoy Allocation fund, it is managed by Stéphane Le Rai and designed as a patrimonial fund whose asset allocation results from a macro-economic analysis. It can invest in direct line or through a selection of external funds.
The fund, launched in March 2012, seeks to outperform the Eonia +2% over a rolling three-year period while limiting negative impacts during markets’ downturns.
Flornoy & Associés Gestion did not comment the information by the time of the publication.