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French firm to further slow flows in AAA-rated star’s fund

French firm to further slow flows in AAA-rated star’s fund

Groupama Asset Management is to limit the level of investment for all investors on its €1.4 billion Avenir Euro fund on top of initial measures which saw a 10% charge added to new money.

The Paris-based group said further constraints would allow Citywire AAA-rated Cyrille Carrière, who is also deputy head of equities, to remain true to his stock-picking approach in the European small- and mid-cap market.

Groupama introduced a 10% charge on new subscribers in October 2016 after hitting €1.1 billion. It has now opted to extend this to existing investors as well, which is aimed at slowing money being added by current shareholders.

The Groupama Avenir Euro fund is the France-domiciled version of the strategy, which also exists in a Ucits format under the title G Fund – Avenir Europe. This Luxembourg-domiciled mirror has €114 million in assets under management.

The Groupama Avenir Euro fund returned 81.6% in euro terms over the three years to the end of April 2017. Its Citywire-assigned benchmark, the MSCI EMU Small Cap NR EUR, rose 39.9% over the same timeframe.

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