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French group OFI AM unveils raft of funds for ex-Amundi managers

French group OFI AM unveils raft of funds for ex-Amundi managers

OFI Asset Management has launched a trio of new European equity funds for the sector specialists hired from Amundi last month, the Paris-based firm has announced.

Five managers in total left Amundi for rival group OFI AM at the start of April.

OFI AM has now announced the launch of three funds, which are all Luxembourg-domiciled strategies, to be overseen by these new recruits.

The three funds are: SSP OFI Large Cap Euro, SSP OFI Euro Smaller Companies and SSP OFI European Smaller Companies.

The SSP OFI Large Cap Euro fund will be co-managed by Citywire + rated Olivier Baduel, who had overseen several similar funds at Amundi, alongside Frédéric Meschini, who also runs the OFI Euro Actions ISR fund.

This is a high-conviction strategy which will invest in companies from across the eurozone. It will operate without sector bias and hold between 40 and 70 positions.

The SSP OFI Euro Smaller Companies fund will be co-managed by new recruit Beryl Bouvier Di Nota alongside existing OFI AM managers Lionel Heurtin and Jean-Charles Naudin.

In this fund, the three managers will also operate on a high conviction basis within eurozone equities. The fund managers will prioritise quality growth companies which are in sector-leading positions. It will have an investable universe of 400 stocks but only hold between 40 and 80.

These three managers will also be responsible for the SSP OFI European Smaller Companies fund, which will operate on a broadly similar mandate but have the potential to invest across the entire European small-cap market.

Commenting on the launches, Eric Turjeman, who joined the group from Amundi to serve as head of equities and convertibles, said: ‘These three funds benefit directly from the very favourable market for European equities and the advantageous situation for European investors.’

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