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METROPOLE Gestion is a limited company organized in 2002 under the laws of Paris, France. METROPOLE Gestion provides discretionary and non-discretionary investment management services to U.S. clients from its offices in Paris, France. All activities are based in METROPOLE Gestion’s Paris office. METROPOLE Gestion is registered with the U.S. Securities and Exchange Commission (“SEC”) as an investment adviser.
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METROPOLE Gestion: The responsible Value investing manager
Our investment process has been implemented for over 20 years, becoming one of the Value investing strategy in continental Europe with the longest track record.
Created in 2002, the firm is applying a single philosophy: the responsible Value investing® or the selection of Value stocks in Europe and eurozone which makes ESG analysis an integral part of its investment process.
METROPOLE Gestion is authorized for asset management activity by the French financial regulator AMF, holding approval number GP02026 issued on 10/21/2002 under the European Directive 2009/65/EC and on 06/10/2014 under Directive 2011/61/EU (AIFM Directive).
In April 2017, METROPOLE Gestion was approved as an Investment Advisor by the SEC (SEC file n801-110428 of 04/25/2017) to manage 1940-act funds for US clients and we launched the first portfolio in June 2017.
Lastly In 2020, METROPOLE Gestion launched its first SMA of ADRs in the United States on its European Value strategy for a large US private bank.
From the beginning, METROPOLE Gestion has targeted professional investors. The company offers its products to institutional investors (pension funds, insurance companies, mutual companies) and private banks, family offices and funds of funds managers in Europe, the USA, the Middle East and Asia.
METROPOLE Gestion is a management company of the ODDO BHF Group dedicated to Responsible Value Investing®.
Our philosophy
We strongly believe that financial markets are prone to excesses and that market valuations can significantly deviate from the intrinsic value of a company. As such opportunities can arise for investors willing to take a long-term view to equity investments as any stock can exhibit an undervaluation to intrinsic Value at time. It is our core belief that Value investing can be broader than the traditional boundaries of low PE ratio or low Price to Book. In any sector, for companies growing or not, by choosing the appropriate valuation ratio, you can identify undervaluation. However, undervaluation is not necessarily an opportunity. By analyzing the medium-term catalysts embedded in a company’s activity, you can sort opportunities from risks and identify those stocks likely to reduce the undervaluation in an equity investment horizon. We believe that by having a 360-degree analysis of a company taking in account intrinsic Value, Balance Sheet strength and ESG you can identify “Value” opportunities.
Responsible Value investing® approach
At the core of its investment process, METROPOLE Gestion seeks to identify securities that are undervalued compared to their intrinsic Value and that present a catalyst likely to reduce this undervaluation.
This approach is strictly applied by the whole team of portfolio managers collegiately. In addition, METROPOLE Gestion has been enriching its investment philosophy since 2008 by formalizing ESG integration in the investment process and engaging actively with companies.
Our approach translates into a 360° analysis of the company takes into account three aspects:
financial analysis,
balance sheet analysis,
ESG analysis.
The management approach is characterized by a companies’ analysis of its industrial value and normative margin levels and is applied to all types of sectors with no bias.
What we stand for
High conviction investment management,
A solid and proven Value expertise,
A dedicated team,
An integration of ESG criteria since 2008,
20 years of track record.
Our strategies
METROPOLE delivers its Responsible Value investing approach in three sub-strategies for clients:
METROPOLE European Value Equities A concentrated portfolio of 30 to 40 undervalued stocks with solid ESG* credentials. The portfolio is invested in European stocks (European Union, United Kingdom, Norway and Switzerland) from any market capitalizations above EUR 100m.
METROPOLE Eurozone Value Equities A concentrated portfolio of 35 to 45 undervalued stocks with solid ESG* credentials. The portfolio is invested in stocks from the Euro zone with a market capitalization above EUR 5bn.
METROPOLE European Small Cap Value Equities A concentrated portfolio of 40 to 50 undervalued stocks with solid ESG* credentials. The portfolio is invested in small and mid-cap European stocks (European Union, United Kingdom, Norway and Switzerland) from market capitalizations between EUR 100m and EUR 4bn.
*(proprietary ESG rating methodology on a Best-in-class/Best effort basis)