SIX launched the “EuroPerformance Alpha League Table” ranking 17 years ago. As a renowned provider of high quality financial data, SIX identified then the potential of such an analysis on the market 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 analyzing the fund's returns using a multi-index regression on investment styles - using Nobel Prize winner William Sharpe's “Return Based Style Analysis” method.

This 2022 edition shows an interesting recovery of active investment strategies, with all indicators trending upwards. Despite the persistence of COVID-19 and highly fluctuating markets, the performances of asset management companies, funds, and alphas have progressed. The domestic market, Europe in the broader sense, continues to dominate the share of winning funds. The predominance of European Equities is still scoring high this year. Among the 28 institutions getting a mark, here stands our Top 10:

Rank MANAGEMENT ENTITY Frequency Average Alpha Mark
1 MEESCHAERT AMILTON ASSET MANAGEMENT 47.22% 3.61% 1.73%
2 TOCQUEVILLE FINANCE SA 61.89% 2.58% 1.59%
3 COMGEST SA 62.31% 2.20% 1.37%
4 LA FINANCIERE DE L'ECHIQUIER 55.94% 2.02% 1.15%
5 SMA GESTION 57.14% 1.71% 0.98%
6 GROUPE LA FRANCAISE 14.29% 6.71% 0.96%
7 LAZARD FRERES GESTION SAS 40.93% 1.98% 0.82%
8 OFI ASSET MANAGEMENT 41.36% 1.85% 0.76%
9 MANDARINE GESTION 35.19% 2.04% 0.72%
10 ODDO BHF ASSET MANAGEMENT 35.71% 1.84% 0.67%

The extended analysis and methodology are available here.

After a year marked by resilience and the development of sustainable investment, this edition is obviously proving that ESG investment is also an excellent pillar to rely on for generating positive performances.

Philippe Hellinger, Head Funds Data France, Financial Information, SIX

 
About SIX
SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 3,685 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 73.5 million in 2021.
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