SIX launched the “EuroPerformance Alpha League Table” ranking 15 years ago. As a renowned provider of high quality financial data, SIX identified the potential of such an analysis on the market already at that time and developed this ranking based on a cutting-edge method. It has since become a benchmark on the French market. At a time when passive forms of investment are enjoying an increased popularity, it is crucial to demonstrate the value of active management with comprehensive and detailed data.
The calculation of the alpha value requires a precise determination of risk positions. The benchmark, which represents the actual risks taken by the fund manager, is determined by analysing the fund's returns using a multi-index regression on investment styles - using Nobel Prize winner Willam Sharpe's “Return Based Style Analysis” method.
In 2019, a tense macro-economic environment has strongly affected the financial markets. This resulted in a concentration of equity funds and an increased role of domestic and European markets in alpha generation. Among the 27 institutions, in France, getting a mark, here stands our Top 10:
|Rank||MANAGEMENT ENTITY||Frequency||Average Alpha||Mark|
|1||FINANCIERE DE L'ECHIQUIER||47,53%||4,26%||2,02%|
|3||SAINT OLIVE GESTION||40,16%||2,29%||0,92%|
|5||ODDO BHF ASSET MANAGEMENT||24,16%||2,30%||0,54%|
|6||ROTHSCHILD ASSET MANAGEMENT||26,52%||1,98%||0,48%|
|8||LAZARD FRERES GESTION SAS||28,58%||1,66%||0,46%|
|9||AG2R LA MONDIALE GESTION D’ACTIFS||40,00%||1,13%||0,44%|
|10||GROUPAMA ASSET MANAGEMENT||17,98%||2,06%||0,36%|
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