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French boutique hires PM for key fund after duo exits

French boutique hires PM for key fund after duo exits

La Financière de l’Echiquier has hired portfolio manager Adrien Bommelaer to co-run the flagship Echiquier Major fund following the exit of manager duo Frédéric Plisson and Gilles Constantini.

In the wake of portfolio manager Kevin Guillot’s departure, it has come to light there have been further manager changes on the French boutique’s leading funds.

Long-standing manager at the group Plisson left in November after a 15-year stint at the firm, it was confirmed to Citywire Selector.

This is while Citywire A-rated Constantini has left after seven years with the group. He first joined LFDE in 2010 as an equity analyst before moving to the rank of fund manager in 2013.

It is understood that Constantini has since joined Montpensier Finance as portfolio manager.

Following their departure, European large-cap equity analyst Matthieu Detroyat was named co-portfolio manager on the €873.2 million Echiquier Major fund.

Detroyat will sit alongside Sonia Fasolo, who was already on the fund's management team and leads the group’s SRI initiative.

New recruit Bommelaer was hired in November 2017 and joined the portfolio manager team. He moved from London where he worked at Liontrust Asset Management for nine months as a partner and portfolio manager. 

Resurfacing changes

Earlier this week, Citywire Selector reported that portfolio manager Kevin Guillot left the firm after being let go less than six months into his role.

Guillot was hired as co-lead manager of the group’s flagship Aggressor fund in June 2017. 

It is understood that the company removed him from the fund in November 2017, which leaves Guillaume Dalibot as sole manager on the €1.3 billion fund.

The now-sole lead manager Dalibot joined the French group from Alken AM in October 2016. This had seen Dalibot briefly work alongside contrarian fund manager Damien Lanternier. However, Lanternier stepped down at the start of last year.

In December 2017, the group joined forces with wealth manager Primonial, in a deal that saw LFDE acquire the asset management operations of Primonal, AltaRocca Asset Management and Stamina Asset Management. This is while Primonal acquired a 40% stake in LFDE.

Over three years to the end of December 2017, the Echiquier Major fund returned 13.16% in euro terms. This is while Citywire-assigned benchmark FTSE World Europe TR EUR, which generated a performance of 25.05% over the same period of time.

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