We spoke with Andrea Bertocchini, Country Head Benelux & Nordics at Groupe La Française, to explore why CM‑AM Convictions Range continues to resonate with long‑term allocators. 

What makes CM-AM Convictions range stand out in today’s equity landscape? 

A.B: CM‑AM Convictions range is an equity range built on a clear philosophy: active, high‑conviction stock‑picking supported by a proven investment process. Our two flagship strategies, CM‑AM Convictions Euro and CM‑AM Convictions USA, share the same DNA: a quality and growth bias, a consistent process in place since 2006, and an agile framework that allows the team to navigate different market cycles without being constrained by specific sectors, styles or capitalizations. Each fund invests respectively in Eurozone and U.S. companies, with the objective of outperforming1 their benchmarks (Euro Stoxx and S&P 500) regardless of market cycles and conditions.  

You mention a proven investment process. What makes it unique? 

A.B: A cornerstone of the process is stability. Since 2006, our portfolio managers have relied on two proprietary tools that structure idea generation and challenge investment decisions. The first is our Radar tool, a quantitative ranking system that scores the investment universe and generates ideas. The second is our Valuation model, a simplified DCF‑based approach designed to assess the medium‑to‑long‑term upside potential of each company. 

What truly distinguishes the approach, however, is the combination of these tools with in-depth fundamental analysis. The tools help reduce behavioral biases and bring discipline, but every investment or divestment decision is ultimately validated through fundamental work. This process has supported the range for nearly two decades. 

Agility is also often cited as a key element. What does it mean in practice? 

A.B: Agility means the Convictions team is not restricted to a specific style, sector or size. They can invest across all sectors, geographies, styles and capitalisations. This flexibility is essential: it allows the range to capture opportunities early, reposition when cycles shift, and navigate environments where leadership rotates, as we’ve seen recently between value, growth, financials, and tech. 

Why should clients consider CM-AM Convictions range today? 

A.B: Investors increasingly seek active alternatives to passive investment solutions like ETF, especially when dispersion rises and macro cycles become less predictable. With nearly 20 years of track record on the main strategies, CM-AM Convictions range aims to deliver performance with managed volatility, which is very relevant for long‑term allocations. Moreover, both strategies offer strategic exposure respectively to the Eurozone and the U.S. market through an approach that integrates ESG criteria and focuses on resilient business models, with profitable economic dynamic, strong potential cash flows, and efficient management teams.  

How does the stability of the Convictions team underpin the approach to managing these strategies? 

A.B: Stability is fundamental. Convictions team is recognised for being both stable and highly experienced. The historical duo of portfolio managers has been working together for more than a decade, and in 2021 the team has been gradually strengthened by adding three additional talented portfolio managers. 

Clients consistently value this continuity. Sustainable performance over time is closely linked to team stability, a clear and coherent investment philosophy, and a disciplined, rigorous process. These principles are essential to us and remain the cornerstone of how we manage these strategies. 

If you had to summarize CM-AM Convictions Range in one sentence? 

A.B: “Solid in our methods, agile in our choices.” This motto reflects the essence of the range. I invite you to visit our dedicated webpage to explore the philosophy and the strategies in more detail: https://lp.la-francaise.com/es/cm-am-convictions/ 

Main risks: risk of capital loss, risk associated with discretionary management, equity market risk, risk associated with investment in small-cap equities, liquidity risk, sustainability risk. Full risk information is available on the Prospectus of each fund.​ 

1. Past performance is not indicative of future results. Performance is not guaranteed and may fluctuate upwards or downwards. 

Disclaimer: Marketing communication intended for professional clients within the meaning of Directive 2014/65/EU (MiFID II).​The information contained in this document does not constitute investment advice, an investment proposal, or any inducement to engage in financial market operations. The opinions expressed reflect the views of their authors as of the publication date and do not represent a binding commitment by Groupe La Française. These opinions are subject to change without notice, within the limits of the prospectus, which is the sole authoritative source. Groupe La Francaise shall not be held liable in any way for any direct or indirect damage resulting from the use of this publication or the information it contains. This publication may not be reproduced, in whole or in part, disseminated, or distributed to third parties without the prior written consent of Groupe La Française. www.la-francaise.com This communication was issued by Groupe La Française, a société Anonyme with executive boards and supervisory board with capital of €78836320 RCSPARIS480,871,490. ©2026, Morningstar. All rights reserved. The information presented: 1) belongs to Morningstar and/or their information providers (2) may not be reproduced or redistributed without written agreement by Morningstar (3) is presented without guarantee of accuracy, completeness or news. Neither Morningstar nor their information providers shall be liable for any damages or losses arising from any use of this information. Morningstar or its content providers accept no liability for any damage or loss caused by the use of this information, or for any delay, interruption or omission of information. Past performance is not indicative of future results. Performance is not guaranteed and may fluctuate upwards or downwards. Crédit Mutuel Asset Management: 128, boulevard Raspail 75006 Paris. Asset Management Company approved by the AMF under number GP 97,138. Société Anonyme with capital of euros 3,871,680 registered in the Paris Trade and Companies Register under number 388,555,021 APE Code 6630Z. Intra Community VAT: FR 70 3 88 555 021. Crédit Mutuel Asset Management is a subsidiary of Groupe La Française, the holding company for the asset management division of Crédit Mutuel Alliance Fédérale.  La Française Finance Services, an investment company authorised by the ACPR under no. 18673 (www.acpr.banque-france.fr) and registered with the ORIAS (www.orias.fr) under no. 13007808 on 4 November 2016. Internet contact details of the supervisory authorities: Prudential Control and Resolution Authority (ACPR) www.acpr.banque-france.fr, Autorité des Marchés Financiers (AMF) www.amf-france.org