Alpha League Table 2024: Who are the French Champions of Alpha?

SIX is proud to announce today’s disclosure of the 2024 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 19 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 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 2024 edition, based on calculations for the full year 2023, has encountered a decline of active management due to very indecisive financial markets. This has led to a large redistribution of the winners and the rise of an asset management company that takes part in this ranking for the very first time. Thus our ALT laureates have proven that, even in a very fluctuating environment and with high impact occurrences, active management still knows how to position itself and diversify its investments. Among the 26 institutions getting a mark, here stands our Top 10:

Rank MANAGEMENT ENTITY Frequency Average Alpha Mark
1 TALENCE GESTION 36.67% 4.63% 1.77%
2 FINANCIERE ARBEVEL 39.70% 3.14% 1.49%
3 LAZARD FRERES GESTION SAS 45.06% 2.54% 1.17%
4 COMGEST SA 49.01% 1.97% 0.97%
5 PALATINE ASSET MANAGEMENT 35.00% 2.36% 0.81%
6 CHOLET DUPONT ASSET MANAGEMENT 29.14% 2.32% 0.67%
7 ODDO BHF ASSET MANAGEMENT 23.19% 3.30% 0.60%
8 BANQUE SAINT OLIVE 27.56% 2.29% 0.59%
9 DUBLY TRANSATLANTIQUE GESTION 55.32% 1.06% 0.59%
10 EDMOND DE ROTHSCHILD ASSET MANAGEMENT SA 14.42% 4.38% 0.59%

Further information: the extended analysis and methodology of the Alpha League Table 2024.

This 2024 edition demonstrates that, despite a difficult environment, inspired stock picking associated to a good knowledge of one's reference market supports alpha generation and persistence in recurring performance.

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 provides and operates stable and efficient infrastructure for the Swiss and Spanish financial centers, thus ensuring access to the capital markets and the flow of information and money between financial market players. As a global provider of financial information, SIX delivers high-quality reference, pricing, corporate actions, and ESG data and provides regulatory services and indices to clients around the world. The company is owned by its users (more than 120 banks) with a workforce of 4,160 employees and a presence in 19 countries.
www.six-group.com

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