The management team

Stéphanie Bobtcheff, CFA, is a graduate of Sciences Po Paris, Bocconi University in Milan and the Centre de Formation à l'Analyse Financière. A specialist in mid-cap investing for over 18 years, Stéphanie Bobtcheff was a manager with Indosuez Asset Management, Crédit Agricole Asset Management and Oddo Asset Management, before spending 6 years in Geneva with Pascal Investment Advisers. She joined La Financière de l'Echiquier in 2013 as manager and head of the mid-cap team. In 2024, the year of the merger between Tocqueville Finance and LFDE, she was appointed head of LFDE's Small & Mid caps team.

After a diploma in chartered accounting and a DESS postgraduate degree in tax law, José began his career with the auditing firm E&Y, before joining HSBC Private Bank as Investment Director of a private equity fund. In 2005, he joined La Financière de l'Echiquier as a small and mid-cap manager. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of LFDE's Small & Mid Caps team.

A graduate of DESS 203 from the University of Paris Dauphine and the SFAF, Nelly began her career at HSBC in 2000, managing the Large Cap Euro Zone universe. She joined the Tocqueville teams in 2007 and took over management of the historic flagship Tocqueville Ulysse fund in 2013. She then joined Erasmus Gestion for 2 years to develop a euro small caps fund before returning to Tocqueville Finance in October 2018 as fund manager of the Small & Mid Caps zone Euro range. Since 2024, when Tocqueville Finance and LFDE merged, she has been part of the Small & Mid Caps team of Financière de l'Echiquier.

A graduate of the ISEG Finance School in Lyon as well as a Master 2 in trading and asset management from ESLSCA Paris, Philbert began his professional experience as an analyst at Financière d'Uzès and then at MidCap Partners. Philbert joined La Financière de l'Echiquier in 2018 as an analyst, after completing a 6-month internship there, and then became a manager in the Small & Mid Caps team. Since 2024, the year Tocqueville Finance and LFDE merged, he has been part of LFDE's Small & Mid Caps team.

Graduated from the Master in Finance of IESEG School of Management in 2016 and holder of the CFA, Thomas completed several internships as a buy-side equity analyst at Rothschild & Cie and then joined ODDO BHF as a junior equity salesman. In 2018, Thomas joined Covéa Finance as an equity analyst and then moved on as an portfolio manager assistant. He joined La Financière de l'Echiquier in 2022 as a senior Small and Mid cap analyst.

A graduate of ESCP in 2024, Victor Le Boulenger began his career at LFDE in January 2025 as a financial analyst in the Small & Mid Cap team, following a 6-month internship with the Technology team. Prior to joining LFDE, Victor completed internships at Lazard and DNCA, including a year as a financial analyst.

A graduate of SFAF and HEC, Stéphane began his career in 1998 with BNP Paribas in structured finance. In 2001, he became a sell-side analyst at IXIS Securities (later Natixis, then Oddo Securities), in charge of the IT services and software midcap sectors, as well as video games, until 2006. From 2006 to 2008, he followed the same sectors at Exane BNP Paribas. In 2008, he became co-manager of several European large and mid-cap equity funds at Montpensier Finance, where he remained for ten years. He joined Tocqueville Finance in 2018, in charge of Thematic and Growth funds, and in 2023 of Technology and Blend funds. Since 2024, the year Tocqueville Finance and LFDE merged, he has been co-head of the Technology and Blend teams of La Financière de l'Echiquier.

A graduate of the SFAF and the Magistère Banque-Finance at the Université de Panthéon Assas, Yann began his career in 1998 at Crédit Agricole Asset Management as a portfolio manager. He became an international equity fund manager in 2000, before joining Natexis Asset Management in 2001 as head of Japan/Asia-Pacific management. Yann then joined Métropole Gestion in 2004 as a manager of European and international equities, before becoming a partner in 2007. Yann joined Tocqueville Finance in 2018. Yann has been in charge of La Financière de l'Echiquier's Value team since 2024, the year Tocqueville Finance and LFDE merged.

A graduate of Paris-Dauphine University (Magistère Banque Finance Assurance), and Bocconi University (Master’s), Louis began his professional career in 2014 at BlackRock as an equity fund analyst. He then joined La Financière de l'Echiquier in 2018 as a blend equity analyst. He subsequently became manager of Echiquier Patrimoine in January 2021, Echiquier Health Impact for all in May 2022 and Echiquier Agressor in January 2023. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of the Social & Health team, the Multi-asset team and the Blend team of LFDE.

Graduating from the Master 2 in Market Finance at OMNES (ex INSEEC) in 2006, Benjamin began his career at LBP AM in 2006 as Assistant Equity Manager/Analyst. In January 2012, Benjamin became Quantitative Manager/Analyst. He joined Ostrum AM in November 2020 as Insurance Equity Portfolio Manager. Since September 2024, when Tocqueville Finance and LFDE merged, he has been part of the Blend division of La Financière de l'Echiquier as a manager. Benjamin has also held the DESCF (Diplôme d'études supérieures comptables et financières) since 2005 and the CIIA (Certified International Investment Analyst) since 2010.

Graduate from the Paris School of Business with a Master 2 in Corporate Finance, Sandra began her professional career in the Crédit du Nord group, before joining BNP Paribas Securities Services as account manager and becoming team leader. In 2018, she joined La Financière de l'Echiquier’s Middle Office team and became in October 2021 Portfolio manager assistant in the Small & Mid caps investment team. In 2025, she became an analyst in LFDE's Blend and Value teams.

A graduate of EDHEC business school, Adrien Bommelaer began his career in 1997 at Credit Suisse in London as a sell-side analyst. In 2005, he took over responsibility for analyzing the hardware and semiconductor sector. He then joined Alliance Trust Investments in 2012 as Investment Manager in the global funds management team, before joining the SRI team and becoming co-manager of the global funds in 2016. Adrien was appointed partner at Lion Trust asset management when ATI was acquired by it, before joining La Financière de l'Echiquier at the end of 2017 as European equity fund manager. In 2020, he took over responsibility for the European large cap SRI growth equity team, and in 2024, the year Tocqueville Finance and LFDE merged, became co-head of the Growth team as well as LFDE's Impact and Environment team.

A graduate of ESCP Europe, Christine began her career in 1989 with Ernst & Young. In 1991, she joined Oddo & Cie as a European equity analyst, before taking on the same role at Crédit Lyonnais Asset Management. She continued her career as an equity manager, notably of a global healthcare fund, at Natixis AM in 2000, before becoming equity manager and head of responsible European equity and impact investing at Mirova in 2012. In 2014, she joined LBPAM as an equity manager, then Tocqueville Finance in 2020. She then became deputy head of equity management. Since 2024, the year Tocqueville Finance and LFDE merged, she has been CSIO and Head of Social and Health team and co-Head of Growth team of LFDE

A graduate of Skema Business School in Market Finance, Anthony began his career in 2018 at Amilton AM as an equity analyst. In 2021, he joined Tocqueville Finance as a financial and extra-financial analyst. In 2023, he became manager-analyst for Growth, Small & Mid Caps - France. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of the Growth team and Social & Health team of La Financière de l'Echiquier.

With a Master's degree in Finance from Paris 1 Panthéon Sorbonne and 20 years' experience, Paul Merle, CIIA, started in 2001 at Banque CPR as Results Controller, before joining Federis Gestion d'Actifs in 2003, where he became Head of SRI Analysis in 2010. In 2016, Paul Merle joined LBPAM as SRI manager-analyst and in January 2019 became sustainable thematic equity manager. In 2020, he joined La Financière de l'Echiquier as European large cap SRI growth equity manager. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of LFDE's Growth team as well as its Impact and Environment team.

A graduate of IESEG Paris with a master's degree in finance in 2013, Marion began her career as a sell-side equity analyst at Raymond James, before joining MainFirst Group. In October 2020, Marion joined La Financière de l'Échiquier's management team as a senior analyst. Since 2024, when Tocqueville Finance and LFDE merged, she has been a fund manager in LFDE's Growth team.

A graduate in Finance from EDHEC in 2017, LLuc completed several internships as an SRI analyst at EthiFinance as well as La Financière de l'Échiquier and then joined Exane in London as a financial analyst. In August 2017, Luc joined the management team at La Financière de l'Échiquier as a financial and SRI analyst. In 2020, he became an impact fund manager. Since 2024, the year Tocqueville Finance and LFDE merged, he has been part of LFDE's Impact and Environment team.

A graduate of the SFAF and the Magistère Banque-Finance at the Université de Panthéon Assas, Yann began his career in 1998 at Crédit Agricole Asset Management as a portfolio manager. He became an international equity fund manager in 2000, before joining Natexis Asset Management in 2001 as head of Japan/Asia-Pacific management. Yann then joined Métropole Gestion in 2004 as a manager of European and international equities, before becoming a partner in 2007. Yann joined Tocqueville Finance in 2018. Yann has been in charge of La Financière de l'Echiquier's Value team since 2024, the year Tocqueville Finance and LFDE merged.

A graduate of Sciences Po Paris, with a Master's degree in Law from Panthéon-Sorbonne and CIIA, Pierre began his career in 1987 as a sell-side analyst with a number of institutions, including CIC Securities, Dresdner Kleinwort Benson and BNP Paribas. In 2001, he joined Crédit Lyonnais Securities in New York as a European equity salesman. In 2004, still in New York, he became an analyst manager at Amber Capital, an event-driven hedge fund. In 2006, he joined BNP Paribas' equity derivatives team in Paris, as a long-short trader in European equities. In 2008, he was appointed Head of Global Equity Fundamental Research at BNP Paribas in the equity derivatives team in Paris, then in London in 2011. In 2016, he joined LBPAM as senior European equity manager, then Tocqueville Finance in 2020. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of the Value team of La Financière de l'Echiquier.

A graduate of IESEG, CFA charterholder and holder of a Master's degree in Finance from the University of Nottingham, Maxime Lefebvre began his career in 2003 as a marketing officer at Amundi in Hong Kong, then at La Française des Placements in Paris, where he became a European equity manager in 2007. He continued his career in 2014 at La Banque Postale gestion privée as a portfolio manager, where he developed specific expertise in discounted companies. In 2015, he became manager of Echiquier Value Euro at La Financière de l'Echiquier. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of LFDE's Value team.

A graduate of Audencia Business School and holder of a Master's degree in Finance from Ohio State University-Fischer College of Business, Romain Ruffenach began his career in 2006 at CM-CIC Securities as a sell-side analyst. He then turned to auditing in 2007 at KPMG before joining SMA Gestion in 2013, in the Equity Long Only team, where he became manager of the benchmark European equity fund. In 2018, he became manager of the Echiquier Value Euro fund at La Financière de l'Echiquier. Since 2024, the year of the merger between Tocqueville and LFDE, he has been part of LFDE's Value team.

Graduate from the Paris School of Business with a Master 2 in Corporate Finance, Sandra began her professional career in the Crédit du Nord group, before joining BNP Paribas Securities Services as account manager and becoming team leader. In 2018, she joined La Financière de l'Echiquier’s Middle Office team and became in October 2021 Portfolio manager assistant in the Small & Mid caps investment team. In 2025, she became an analyst in LFDE's Blend and Value teams.

A graduate of EDHEC business school, Adrien Bommelaer began his career in 1997 at Credit Suisse in London as a sell-side analyst. In 2005, he took over responsibility for analyzing the hardware and semiconductor sector. He then joined Alliance Trust Investments in 2012 as Investment Manager in the global funds management team, before joining the SRI team and becoming co-manager of the global funds in 2016. Adrien was appointed partner at Lion Trust asset management when ATI was acquired by it, before joining La Financière de l'Echiquier at the end of 2017 as European equity fund manager. In 2020, he took over responsibility for the European large cap SRI growth equity team, and in 2024, the year Tocqueville Finance and LFDE merged, became co-head of the Growth team as well as LFDE's Impact and Environment team.

A graduate of the Ecole Supérieure de Commerce et de Management de Tours-Poitiers, Pierre began his career in 2010 as head of sell-side research at NFinance Securities. He became a manager specializing in European small and mid caps in 2014 at Amilton Asset Management. In 2018, he joined Tocqueville Finance as manager in charge of the Tocqueville PME fund and dedicated funds within the Small & Mid Caps team. Since 2024, when Tocqueville Finance and LFDE merged, he has been head of the France team and co-head of the Impact and Environment team at Financière de L'Echiquier.

With a Master's degree in Finance from Paris 1 Panthéon Sorbonne and 20 years' experience, Paul Merle, CIIA, started in 2001 at Banque CPR as Results Controller, before joining Federis Gestion d'Actifs in 2003, where he became Head of SRI Analysis in 2010. In 2016, Paul Merle joined LBPAM as SRI manager-analyst and in January 2019 became sustainable thematic equity manager. In 2020, he joined La Financière de l'Echiquier as European large cap SRI growth equity manager. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of LFDE's Growth team as well as its Impact and Environment team.

With a PhD in Economics from the University of Manchester, Alvaro began his career in 2001 as a financial systems development consultant with GIZ. He then joined Fortis Investments in 2007 as an analyst. In 2009, he joined BNP Paribas, where he worked for two years as an analyst, then as a portfolio manager. A specialist in the energy and utilities sectors, he was in charge of two responsible funds, one of which focused on the energy transition. In 2021, he joined Tocqueville Finance as Environment & Biodiversity manager-analyst. Since 2024, when Tocqueville Finance and LFDE joined forces, Alvaro has been part of the Impact and Environment team of Financière de l'Echiquier.

A graduate in Finance from EDHEC in 2017, LLuc completed several internships as an SRI analyst at EthiFinance as well as La Financière de l'Échiquier and then joined Exane in London as a financial analyst. In August 2017, Luc joined the management team at La Financière de l'Échiquier as a financial and SRI analyst. In 2020, he became an impact fund manager. Since 2024, the year Tocqueville Finance and LFDE merged, he has been part of LFDE's Impact and Environment team.

A graduate of IESEG Paris with a master's degree in finance in 2013, Marion began her career as a sell-side equity analyst at Raymond James, before joining MainFirst Group. In October 2020, Marion joined La Financière de l'Échiquier's management team as a senior analyst. Since 2024, when Tocqueville Finance and LFDE merged, she has been a fund manager in LFDE's Growth team.

With a Master's degree in Asset Management from Paris Dauphine University, Jisia began his career at AXA Investment Managers in 2016 as an Equity Investment Specialist. He was appointed Equity Fund Manager in 2021 on European and global strategies dedicated to the AXA Group. From November 2024, he will join La Financière de l'Echiquier's Impact & Environnement Team as a fund manager.

A graduate of SFAF and HEC, Stéphane began his career in 1998 with BNP Paribas in structured finance. In 2001, he became a sell-side analyst at IXIS Securities (later Natixis, then Oddo Securities), in charge of the IT services and software midcap sectors, as well as video games, until 2006. From 2006 to 2008, he followed the same sectors at Exane BNP Paribas. In 2008, he became co-manager of several European large and mid-cap equity funds at Montpensier Finance, where he remained for ten years. He joined Tocqueville Finance in 2018, in charge of Thematic and Growth funds, and in 2023 of Technology and Blend funds. Since 2024, the year Tocqueville Finance and LFDE merged, he has been co-head of the Technology and Blend teams of La Financière de l'Echiquier.

A graduate of HEC, Christophe began his career as a Debt Capital Market (FIG) analyst at Lehman Brothers in London in 2007 where he was advising financial institutions and corporates on debt and capital issuance transactions. He then joined Nomura International PLC, where he held the same position from 2008. In 2013, he joined Trecento AM and became first funds manager/analyst of global equity thematic funds and then managing director and chief investment officer. He joined LBPAM in November 2020 as SRI manager/analyst before joining Tocqueville Finance in 2023 in the Technology and North America teams. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of the Technology team of Financière de l'Echiquier.

With a degree in international finance from HEC, Alicia began her career in 2020 at Fidelity International as a credit analyst. She then joined Exane in 2022, where she specialized as an equity analyst in the aerospace and defense sector. She joined La Financière de l'Echiquier in January 2024, the year of the merger of Tocqueville Finance and LFDE, as a financial analyst in LFDE's Technology team.

A graduate of the Ecole Supérieure de Commerce et de Management de Tours-Poitiers, Pierre began his career in 2010 as head of sell-side research at NFinance Securities. He became a manager specializing in European small and mid caps in 2014 at Amilton Asset Management. In 2018, he joined Tocqueville Finance as manager in charge of the Tocqueville PME fund and dedicated funds within the Small & Mid Caps team. Since 2024, when Tocqueville Finance and LFDE merged, he has been head of the France team and co-head of the Impact and Environment team at Financière de L'Echiquier.

A graduate of the Master Ingénierie Statistique et Actuariat from the Institut de Mathématiques Appliquées d'Angers, Matthieu has been a manager-analyst at Tocqueville Finance since 2006, and has been part of the France team of La Financière de l'Echiquier since 2024, the year in which Tocqueville Finance and LFDE merged. He holds CFA certification.

A graduate of ESCP Europe, Christine began her career in 1989 with Ernst & Young. In 1991, she joined Oddo & Cie as a European equity analyst, before taking on the same role at Crédit Lyonnais Asset Management. She continued her career as an equity manager, notably of a global healthcare fund, at Natixis AM in 2000, before becoming equity manager and head of responsible European equity and impact investing at Mirova in 2012. In 2014, she joined LBPAM as an equity manager, then Tocqueville Finance in 2020. She then became deputy head of equity management. Since 2024, the year Tocqueville Finance and LFDE merged, she has been CSIO and Head of Social and Health team and co-Head of Growth team of LFDE

A graduate of ESSEC, Michel Saugné began his career in 1999 with BNP Paribas before joining Natixis as a proprietary trader on equity strategies. In 2004, he moved to LCF Rothschild as a fund manager and was later appointed Head of the Funds of Hedge Funds team and co-head of the long-short equity expertise at Edmond de Rothschild. He joined Tocqueville Finance in 2013 and was promoted to deputy CIO in 2016. A member of LBP AM’s Executive Committee, he was appointed deputy CEO of Tocqueville Finance in 2023. In 2024, Michel Saugné was appointed Co-CIO of LFDE and joined the Executive Committee. Michel Saugné was promoted to CIO of LFDE in January 2025.

A graduate of Skema Business School in Market Finance, Anthony began his career in 2018 at Amilton AM as an equity analyst. In 2021, he joined Tocqueville Finance as a financial and extra-financial analyst. In 2023, he became manager-analyst for Growth, Small & Mid Caps - France. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of the Growth team and Social & Health team of La Financière de l'Echiquier.

A graduate of Master 2 Techniques Financières et Bancaires l'Université Paris II Panthéon-Assas, Emilie started her professional experience at Lazard Frères Gestion in Sales Development before joining Primonial in the Institutional Client Department in September 2014. She joined La Financière de l'Échiquier in March 2018, as part of the merger with Primonial. She became an analyst in the international and thematic equities team in April 2019. Since 2024, when Tocqueville Finance and LFDE merged, she has been part of LFDE's World and Social & Health teams.

A graduate of Paris-Dauphine University (Magistère Banque Finance Assurance), and Bocconi University (Master’s), Louis began his professional career in 2014 at BlackRock as an equity fund analyst. He then joined La Financière de l'Echiquier in 2018 as a blend equity analyst. He subsequently became manager of Echiquier Patrimoine in January 2021, Echiquier Health Impact for all in May 2022 and Echiquier Agressor in January 2023. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of the Social & Health team, the Multi-asset team and the Blend team of LFDE.

A graduate of EDHEC and with a Master's degree in Sustainable Finance from SKEMA Business School, Thomas Certeux-Jerôme began his career with successive experiences at BNP Paribas in Private Banking and then the Reporting team at Deloitte Luxembourg. Thomas joined La Financière de l'Echiquier in June 2022 as an SRI analyst in the RI Research team. Since 2024, the year of the merger between Tocqueville Finance and LFDE, he has been an analyst in LFDE's Social & Health team.

A graduate of Yale University, Syracuse University and CFA charterholder, David Ross has spent his entire career in the United States. He developed his experience in equity management over more than 30 years, notably at US Trust, Citi Private Bank and then Chevy Chase Trust Investment Advisors as Director and manager specializing in emerging markets. In 2014, he joined La Financière de l'Echiquier as manager of the Echiquier World Equity Growth fund, then in 2024, the year of the merger of Tocqueville Finance and LFDE, he became Head of LFDE's Global team. He has held the Certificate in ESG Investing issued by the CFA since 2021.

With a Master's degree in Finance from the London School of Economics, Louis began his professional career in 2015 at Amundi as an assistant manager on thematic funds. He joined La Financière de l'Échiquier in 2018 as an international equity analyst. In June 2021, he became international equity fund manager. Since 2024, the year Tocqueville Finance and LFDE merged, he has been part of LFDE's Global team.

A graduate of Master 2 Techniques Financières et Bancaires l'Université Paris II Panthéon-Assas, Emilie started her professional experience at Lazard Frères Gestion in Sales Development before joining Primonial in the Institutional Client Department in September 2014. She joined La Financière de l'Échiquier in March 2018, as part of the merger with Primonial. She became an analyst in the international and thematic equities team in April 2019. Since 2024, when Tocqueville Finance and LFDE merged, she has been part of LFDE's World and Social & Health teams.

A graduate of ESCP Paris and SFAF, Céline began her career in 1996 with Salustro Reydel as a junior auditor. She joined Détroyat Associés in 1997 as a financial analyst in charge of the capital goods sector, then Pechiney in 2000 in the Strategy & Development department, in charge of monitoring the global aluminum market and the competitive environment. She then returned to the financial markets as a eurozone equity manager, first with CDC Entreprises in 2002, then Robeco AM in 2006 and finally LBPAM in 2007. Since 2014, she has been in charge of North American funds. She joined Tocqueville Finance in 2023 in the North America team. Since 2024, when Tocqueville Finance and LFDE merged, Céline has been in charge of the North America team at Financière de l'Echiquier.

Nina Lagron holds a Master 2 in Finance from Paris-Dauphine University and is a CFA charterholder. She began her career in 1998 at UBS as an investment banker, before joining Fortis Investments as a manager-analyst in 2002. Nina then worked as an international equity manager at Crédit Agricole Asset Management, then at Amundi, Gemway Assets and finally at La Française, where she held the position of Head of Equity. Nina joined La Financière de l'Echiquier in 2022 as an international equity fund manager. In 2022, she was awarded the CFA Certificate in ESG Investing. Since 2024, when Tocqueville Finance and LFDE joined forces, she has been part of LFDE's North America team.

A graduate of the Magistère Banque Finance at the Université de Panthéon Assas, Adrien began his career at Natixis in 2020 as a Financial Offer Manager. In 2021, Adrien joined Amundi as a Private Equity analyst. In 2023, he joined Tocqueville Finance as a financial and SRI analyst in US equities. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of La Financière de l'Echiquier's North America team.

Graduating as an engineer from ESTP Paris and with a specialized master's degree from HEC Paris, Kevin began his career at Covéa Finance in 2008 as a manager-analyst on European equities. He then covered Asian equities from 2011, and became head of the Asian equities team in 2018. Subsequently, Kevin joined Edmond de Rothschild Asset Management in 2019 as an international equity manager, with responsibility for both geography (emerging countries) and themes (climate change). In 2023, he joined LBPAM as a manager, responsible for the Asia team, and then joined Tocqueville Finance. Since 2024, the year Tocqueville Finance and LFDE merged, he has been in charge of La Financière de l'Echiquier's Asia team.

A graduate of Paris Dauphine University and IAE Paris-Est with a master's degree in Financial Engineering, Sébastien began his career in 2000 at FORTIS IM as a junior manager in emerging Asian equities. He then joined BANQUE NOMURA FRANCE in 2001 as an Asian equity salesman for institutional investors in France, Belgium and Luxembourg. In 2019, he joined the Société Générale Group as a global diversified manager for private banking. In 2024, Sébastien joins La Financière de l'Echiquier as an equity manager in the Asia team.

A graduate of EDHEC and the Université Catholique de Lille, Inès began her career as an equity analyst in 2024, the year of the merger of Tocqueville Finance and LFDE, and is now part of La Financière de l'Echiquier's Asia team. Before joining Tocqueville Finance, she completed internships with LFDE's Impacts funds and the Ananda hedge fund in London.