French asset manager Mandarine Gestion is reshuffling the investment policy of its European growth equity fund, Mandarine Europe Opportunités. Changes will be effective 1 December 2017.
In a shareholder letter, the company said it is revamping the strategy in order to rationalise its fund range. The Mandarine Europe Opportunités fund was hitherto investing in stocks of EU-based issuers and will now invest in eurozone equities. Morever, ESG criteria will be taken into account in the stock analysis.
Also the fund’s benchmark has been changed to the Euro Stoxx Net Return index instead of the Stoxx Europe 600 DR index.
Another change dwells in the name of the fund, that will be rebranded to Mandarine Active.
Launched in December 2012, the fund selects European companies of all sizes with potential for visible and regular growth based on innovation and leadership, and has limited exposure to France. It is co-managed by Marie-Jeanne Missoffe, Marie Guigou and Diane Bruno.
The fund tallied €19.49m of assets under management as at end October 2017, having returned + 60.48% since inception to 31 October 2017 in its current form against +62.08% for its former benchmark.
Amundi (3.25%), SAP (3.13%), Reed Elsevier (3.02%), Prudential (2.75%), Orpea (2.64%) were the top 5 positions of the fund as of 31 October 2017.