Pascal Menthiller

Etoile Gestion follows a growth-and income-oriented investment style. A significant part of their assets are invested in euro-denominated money-market instruments, complemented by European and international equity, European and international fixed-income, diversified products and mutual funds. Their equity investment focus is on large- and giant-cap French companies. Alternative investments are marginal. The firm describes their investment approach as flexible. Their investment process is based on the economic scenario elaborated at the group level. Strategic asset allocation is regularly revised by the strategic committee, as is geographic allocation. This top-down view is then applied to each asset class. Securities are selected using a bottom-up approach.