French investment firm Stamina Asset Management will proceed to the absorption of the DBG Optimal Allocation fund by the Stamina Patrimoine fund (R share) on 20 October 2017, InvestmentEurope has learned.
Both France-domiciled flexible asset allocation funds are co-managed by Stamina’s senior portfolio managers-analysts Alexis Bienvenu and Clément Inbona. The decision to merge the two funds was taken last July by Stamina AM’s management and has received the green light of French regulator AMF on 1 September.
The DBG Optimal Allocation fund, launched in April 2015, was mostly invested in absolute return funds (46.3%) and fixed income funds (25.2%) as of 31 August 2017 and had €2.4m in assets as of 31 August 2017.
At the same date, assets of the Stamina Patrimoine fund amounted to €391.1m. The strategy seeks to outperform a composite benchmark (20% EuroStoxx 50 TR + 20% MSCI World TR + 60% Eonia capitalised).
As at 31 August 2017, the top five positions of the FoF were Exane Funds 1 Exane Overdrive, Roche-Brune Europe Actions, Candriam Bonds Credit Opportunities, AltaRocca Convertibles and Schroder International Selection Fund European Alpha Absolute Return.