Echiquier Agenor SRI Mid Cap Europe celebrates its 20th anniversary

Launched in February 2004, Echiquier Agenor SRI Mid Cap Europe^[1] is today celebrating its 20th anniversary. This SRI-labelled^[2] fund invests in European small-cap growth stocks selected for their capacity to generate value with no cycle constraints as well as the quality of their governance.

Building on a rigorous and disciplined collegial approach, the management team, made up of two managers – Stéphanie Bobtcheff, CFA, and José Berros^[3] – supported on a daily basis by two analysts, together selects growth models from the universe of Small and Mid-Caps, La Financière de l’Échiquier’s (LFDE) long-standing area of expertise.

This selective and concentrated portfolio, comprising around thirty convictions, aims to invest in potential future leaders. More than half of the portfolio currently consists of what we call “structural winners” – in other words, growth stocks capable of growing independently of the business cycle and maintaining high levels of profitability over the long term.

The pool of Small and Mid-Caps, where we believe valuations have returned to attractive levels, abounds with opportunities. We expect the macroeconomic environment in the coming months to be conducive to a rebound in this asset class, which outperforms large caps over the long term. As interest rates stabilise, we believe that company fundamentals will be one of the main drivers of performance.^[4]

[1] The Fund is exposed to risk of capital loss, equity risk, small and mid-cap investment risk and discretionary management risk. For more information on its characteristics, risks and fees, please view the regulatory documents available on www.lfde.com. Investors are reminded that the units/shares presented may not be marketed in their country of residence. Investors or potential investors are notified that they may obtain a summary of their rights and also file a claim using the procedure stipulated by the management company. This information is available in the country’s official language or in English on the Compliance Information page of the management company’s website www.lfde.com. Finally, investors should note that the manager or the management company may decide to terminate the promotional agreements for its mutual funds in accordance with Article 93 bis of Directive 2009/65/EC and Article 32 bis of Directive 2011/61/EU.

[2] The decision to invest should not be based solely on a fund’s non-financial approach, but should also take into account its other characteristics, particularly its risks, as described in its prospectus.

[3] The management team may change over time. For more information about the composition of the team go to: www.lfde.com.

[4] The opinions expressed in this document are the fund manager’s own. LFDE shall not be held liable for these opinions in any way.