French asset manager DNCA Finance has expanded its European Value team with the appointment of Citywire A-rated Don Fitzgerald as a fund manager.
Fitzgerald joins the boutique from the French group Tocqueville Finance, where he managed the €208 million Tocqueville Value Europe fund.
‘I look forward to working at DNCA. The firm is growing very fast in both in France and internationally and I share the management philosophy of my qualified and competent colleagues at DNCA,‘ said Fitzgerald.
Commenting on the new appointment, Chebar said: ‘We are very pleased that Don Fitzgerald is joining our team. Over the years he has proved that he can identify companies that are undervalued by the market. His comprehensive knowledge of the European business scene is a big advantage for us and his different methods match perfectly with the DNA of DNCA.'
The three biggest holdings the fund he managed at Toqueville Finance were the Irish sales and marketing support service at 3.34%, the British kitchen supplier Howdens Joinery at 2.84% and the French advertising group Publicis at 2.7%.
The DNCA Invest Value Europe fund returned 62.3% in euro terms over the three years to the end of August 2015. This compare to a rise of 47.1% by its Citywire-assigned benchmark, the FTSE World Europe TR, over the same timeframe.