French manager Exane Asset Management has hard-closed its European long/short equity fund as assets fell below €5m in December.
The Exane Funds 1 - Templiers A, a market neutral strategy investing mainly in European stocks, has been liquidated 13 years after it was launched. The Fund has been run by Jean-François Roussel since inception.
Roussel has worked as a partner and portfolio manager on long/short equity funds at Exane since 2005. Prior to that he worked as a portfolio manager at various firms including Natixis and Axa Investment Managers.
The Templiers A Fund lost over 1.5% in euro terms over three years to the end of December.
Paris-based Exane AM had €5bn of assets under management (€6.9bn including funds of funds) as 29 December 2017. The boutique runs 19 funds and is part of Exane group whose half capital is held by French financial group BNP Paribas.