DNCA Finance has restructured Jean-Charles Mériaux's eurozone-focused equity fund, Citywire Selector has learned.
According to a shareholder note dated July 20, the fund has been renamed the DNCA Opportunities Zone Euro from the end of last month to reflect a more opportunistic approach, as well as a move away from its previous value-based approach.
Under the new banner, Mériaux and Le Clainche will be able to select growth and/or quality stocks, while the exposure to smaller caps is limited to 20%. The fund was previously allowed to invest up to half of its assets in stocks with a market cap of €1 billion or less.
Since its official launch in December 2014, the €88 million fund returned 23.7% in euro terms, against a 27.3% rise by its Citywire-assigned benchmark, the MSCI EMU TR EUR, over the same period.