Emergence, the Paris financial centre fund for the acceleration of entrepreneurial asset management companies, has selected the Sextant Tech fund of Amiral Gestion and the Aesculape SRI fund of Montpensier Finance and completed an initial round of five investments in favour of tech funds with a confirmed sustainable impact objective, in line with the timetable of the Tibi Initiative.
With its Emergence Techs for Good sub-fund having recently been approved for the Tibi Initiative, Emergence intends to promote the visibility of these young funds among institutional investors committed to supporting the financing of French and European technology companies.
Paris, 10 January 2023 – Emergence and NewAlpha Asset Management, the delegated manager of the SICAV fund, are announcing the fourth and fifth investments of the Emergence Techs for Good sub-fund1 in the Sextant Tech fund2 of Admiral Gestion3 and the Aesculape SRI fund4 of Montpensier Finance5, each of which have received €20 million. As a detector of talent in entrepreneurial asset management, Emergence encouraged the two funds, boasting expertise in European tech leaders, regardless of their capitalisation size, to apply for Tibi approval, which they have obtained.
Amiral Gestion’s Sextant Tech fund benefits from the asset management company’s long-standing expertise in the French and European listed small- and mid-cap segment. The fund’s investment strategy was recently refocused on innovative business sectors at the heart of the technological value chain, the commitment being to concentrate primarily on French and European equities while adopting a global investment horizon. Through its positioning as a cornerstone fund, Sextant Tech also seeks to promote long-term support for these innovative companies and foster the emergence of a stock market ecosystem capable of supporting the development of French and European Tech.
With the contribution of all the European and international investment teams, based in Paris and Singapore, a detailed, bottom-up fundamental analysis is carried out based on a balanced assessment between the quality of the business model and the intrinsic value of the companies. Sextant Tech is also committed to a sustainable approach adapted to the specific challenges of the tech sector. Comprising some 30 stocks, the fund’s assets amounted to €40 million at 20/12/2022, including the contribution of Emergence.
Amiral Gestion, an independent asset management firm owned by its directors and employees, was founded in 2003. At 30/11/2022, it had some €3.5 billion in assets under management, divided between several dedicated mandates and 11 open-ended sub-funds of its Sextant SICAV fund. Amiral Gestion currently has 57 employees, nearly half of whom are directly involved in the search for investment ideas.
Commenting, Nicolas Komilikis, CEO of Amiral Gestion, said: “The support provided by Emergence boosts our visibility among institutional investors that we are seeking to harness as a priority as part of our objective to support the emergence of a stock market ecosystem capable of driving the development of our future European tech champions.”
Managed by Montpensier Finance, Aesculape SRI is a thematic fund in international equities (OECD) exposed directly or indirectly to the healthcare ecosystem. Created in 2021, it is contributing to the financing of an unprecedented wave of technological innovations in the healthcare sector through the digital transformation (telemedicine, artificial intelligence for medical imaging, data analysis, etc.) and the development of new biological entities (complex antibodies, messenger RNA, gene and cell therapies, etc.). The fund targets companies in fields that make it possible to establish diagnostics faster and sooner, discover and facilitate access to treatments, and enhance the production of medicines through innovative equipment and distribution.
The investment management process favours the discretionary selection of securities based on the intrinsic quality of the securities as part of a bottom-up approach. The fund also incorporates a strong non-financial footprint through its SRI certification and its Article 9 SFDR classification. The portfolio is invested in around 40 stocks with a target exposure of 45% Europe, 45% America and 10% Asia. The fund’s assets totalled €65 million at 20/12/2022, including the contribution of Emergence.
Montpensier Finance is a French entrepreneurial asset management company founded in 1998 and owned 75% by its management and 25% by Amundi. It has three areas of asset management expertise: European equities, international thematic equities and convertible bonds. SRI is central to its processes. At 31/12/2021, the company managed €3.5 billion and employed 36 employees.
Guillaume Dard, Chairman of Montpensier Finance, said: “At Montpensier Finance, we are convinced that investors have a role to play in financing medical innovation. The issue of health concerns all of us, individually and collectively. We are delighted to benefit from the support of the Emergence Techs for Good sub-fund. This recognition will enhance our visibility among major investors in medical technology.”
“In a universe of around 30 French entrepreneurial asset managers, we have selected two funds exposed to complementary tech sub-themes. The Sextant Tech fund was selected for the team’s ability to cover a global universe while playing an active role in the development of the French Tech ecosystem. The Aesculape SRI fund has set itself apart from other healthtech players through its unique and sustainable strategy aimed at identifying the most innovative companies in the sector in a growth acceleration phase,” said Antoine Rolland, Chairman of NewAlpha.
“With the acceleration of this first series of five tech funds approved for the Tibi Initiative, the Emergence Techs for Good sub-fund has fully met the objectives set at its launch. The capital allocated by institutional investors, including BNP Paribas Cardif, will promote the growth of funds resolutely involved in the financing of tech firms, particularly in France, with precisely quantified sustainable development objectives. In addition, the sub-fund’s recent approval for the Tibi Initiative is likely to attract interest from new investors and will further support the structuring in France of cutting-edge expertise in tech funds,” said Arnaud Miroudel, Chairman of the Investment Committee of Emergence Techs for Good and Head of Investment Partnerships at BNP Paribas Cardif.
Past performance is not a guide to future performance or the achievement of the objectives of the various products. Performance is not constant over time. The SRI label does not guarantee the performance of the fund. Investors should be aware that investing involves the risk of the total or partial loss of the capital invested. Main associated risks: Equity risk and capital loss. Risk scale: Sextant Tech 6/7. Aesculape SRI 6 / 7.
DISCLAIMER – This press release is intended for French professional investors only, within the meaning of the Markets in Financial Instruments Directive. It is published jointly by New Alpha Asset Management, whose registered office is located at 128, boulevard Raspail, 75006 Paris, France, and the Emergence Sicav, whose registered office is located at 28 place de la Bourse, 75002 Paris, France. The information contained herein shall not under any circumstances be interpreted as an offer or invitation to invest, investment advisory or a recommendation for specific investments. New Alpha Asset Management is a portfolio management company authorised by the AMF under number GP05000001 as of 20 January 2005. References to prior rankings and awards are no guarantee of future rankings or awards. Depending on the date this document was drafted, the information herein may no longer be current.
1 Launched in April 2022, Emergence Techs for Good is a specialised professional fund (FPS) closed to investors.
2 Sextant Tech is approved by the French financial markets authority, AMF, and was launched on 30/06/2022 with ISIN FR0011050889 (I unit).
3 Amiral Gestion, an asset management company approved by the AMF under number GP-04000038. A simplified joint stock company with share capital of €629,983. Trade and Companies Register No. 445 224 090.
4 Aesculape SRI is approved by the AMF and was launched on 12/07/2021 with ISIN FR00140032U2 (IC unit).
5 Montpensier Finance, an asset management company approved by the AMF under number GP 97-125. A simplified joint stock company with share capital of €1,867,840. Trade and Companies Register No. 417 539 681.