Memnon European Equity
Zadig's flagship european equity strategy
We think the Memnon European Equity strategy can meaningfully outperform the European market thanks to our valuation driven process. Key to this long-term performance ambition is our concentration on our very best ideas only and our risk management process.
Zadig relies on a hands-on research approach. We build our own valuation models, meet with management of companies. Our process is bottom up and valuation driven; we never invest if we cannot justify a meaningful upside for a reasonable amount of risk. ESG factors are fully integrated in our valuation process.
We think there is a comfort bias in the market, and investors overpay for perceived safety. We are often contrarian in our approach; the portfolio is made up of companies that are undervalued due to investors’ perception of risk and the companies offer attractive risk/return profiles as a result.
Why invest in Memnon European Equity?
Limited factor exposure. At all times, portfolio keeps a balanced exposure to cyclical, defensive, growth companies and we carefully monitor and limit factor exposures (value, growth, momentum, etc.) through advanced proprietary quantitative analysis. By limiting the portfolio’s exposure to broad factors, the performance cannot be replicated by ETFs, even the smart ones.
We bring diversification to investors. By avoiding consensual investments, the portfolio looks and behaves differently from competitors, offering welcome diversification to our investors. The correlation of the portfolio’s performance with peers is low, making the fund a truly diversifying asset for European Equity allocators.
10 years of Memnon European
- Market Caps: Mid to Large
- Number of investments: 20/25
- Active share ~90%