Citywire Selector - For Professional Investors

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

French boutique liquidates long/short tech fund

French boutique liquidates long/short tech fund

Exane Asset Management has closed the technology-focused long/short equity fund overseen by sector veteran César Zeitouni, Citywire Selector has learned.

Zeitouni was handed the Alt Ucits – Long/Short Equity fund in December 2013, having stepped back from the Exane Funds 1 – Archimedes fund to develop the new approach.

It has now emerged that the Paris-based group opted to close the Exane Funds 2 – Exane Prime Technology fund on April 1. The initial launch of the fund had not been publically announced to enable Zeitouni to build a necessary track record.

According to Lipper data, the fund peaked at €24.2 million in assets at the end of December 2015. It since dropped to €7.6 million, which was at April 22.

A spokesperson confirmed the closure to Citywire Selector and said the fund had failed to gain significant investor interest. Zeitouni, who joined Exane Asset Management in 2006, remains with the company following the closure of the fund.

The Exane Funds 2 – Exane Prime Technology fund returned 17.8% in euro terms over the 29-month period since its launch. This is while the fund’s technical indicator, the FTSE AW/Technology TR, rose 42% over the same period.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Luxembourg Forum

    Citywire Luxembourg Forum

  • Citywire DACH 2017

    Citywire DACH 2017

  • Citywire Italy 2017

    Citywire Italy 2017

  • Citywire Berlin 2017

    Citywire Berlin 2017

  • Citywire Miami 2017

    Citywire Miami 2017

  • Citywire Professional Buyer

    Citywire Professional Buyer

  • Citywire Madrid 2017

    Citywire Madrid 2017

  • Citywire Switzerland Retreat 2017

    Citywire Switzerland Retreat 2017

  • Citywire Amsterdam 2017

    Citywire Amsterdam 2017

  • Citywire Frankfurt 2017

    Citywire Frankfurt 2017

  • Citywire Alternative Ucits Retreat 2017

    Citywire Alternative Ucits Retreat 2017

  • Citywire Paris 2017

    Citywire Paris 2017

  • Citywire Milan 2017

    Citywire Milan 2017

  • Citywire Deutschland 2017

    Citywire Deutschland 2017

  • Citywire DACH 2017

    Citywire DACH 2017

  • Citywire Italy 2016

    Citywire Italy 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Alt Ucits 2016

    Citywire Alt Ucits 2016