Alpha League Table 2026: Who Are the French Champions of Alpha?

SIX is proud to announce today’s disclosure of the 2026 edition’s results of the best equities asset management companies, based on alpha, a risk-adjusted performance measure, an indicator of the manager's over-performance against the market.

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SIX launched the “EuroPerformance Alpha League Table” ranking 21 years ago. As a renowned provider of high quality financial data, SIX already identified the potential of such an analysis in the market at that time and developed this ranking based on a cutting-edge methodology. 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 is an approximation of 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 2026 edition, calculated based on the year 2025, held up well even though the year was once again marked by numerous uncertainties weighing on financial markets. Active management, by its very nature, enables fund managers to stand out more particularly, especially in this kind of highly volatile environment. However, this instability can also undermine investment models and make the search for pure alpha even more challenging. This year, the asset management companies included in the ranking stabilized, and the various indicators remained fairly constant compared with last year, even showing a slight increase. Among the 19 institutions getting a mark, here stands our Top 10:

Rank MANAGEMENT ENTITY Frequency Average Alpha Mark
1 SANSO LONGCHAMP ASSET MANAGEMENT 27.42% 4.14% 1.16%
2 AMIRAL GESTION 34.86% 2.44% 0.71%
3 CHOLET DUPONT ASSET MANAGEMENT 20.83% 2.36% 0.48%
4 EDMOND DE ROTHSCHILD ASSET MANAGEMENT SA 23.28% 2.10% 0.47%
5 AURIS GESTION 19.25% 2.16% 0.42%
6 CA INDOSUEZ GESTION 40.37% 1.00% 0.42%
7 DNCA FINANCE 22.10% 1.78% 0.39%
8 BNP PARIBAS ASSET MANAGEMENT 17.14% 2.10% 0.35%
9 COMGEST SA 20.15% 1.69% 0.33%
10 FINANCIERE DE L'ECHIQUIER 11.01% 2.86% 0.32%

Further information: the extended analysis and methodology of the Alpha League Table 2026.

Against a backdrop of market and, above all, geopolitical constraints, active management has demonstrated its relevance and its capacity to differentiate. This highlights that algorithms cannot solve everything and that portfolio managers’ judgement remains an effective way to stand out.

Philippe Hellinger, Head FR Funds Products & Press, Financial Information, SIX

Any questions?

Please do not hesitate to contact Julian Chan.

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About SIX
SIX serves the Swiss and Spanish financial centers and a broad international client base, offering stable and efficient infrastructure services. SIX operates stock exchanges and provides services in post trading, financial information as well as the payments business. The company is owned by its users (about 120 financial institutions). With over 4,300 employees and a presence in 19 countries, SIX generated operating income of CHF 1.7 billion and EBITDA of CHF 460 million in 2025.
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