Long-term value strategies are gaining traction amid shifting monetary policies and global uncertainties. In this context, the CM-AM Convictions Fund Range benefits from a stable, experienced management team spanning over 20 years, leveraging sophisticated proprietary tools and underscoring the relevance of a fundamental equity approach.

Approach 

CM-AM Convictions Euro & CM-AM Convictions USA focus on stocks assessed to have growth and quality characteristics, complemented by diversification pockets that enable adaptation to changing market conditions (higher interest rates, inflationary environment, complex geopolitical events...). The investment team targets companies with sustainable potential competitive advantages, solid balance sheets, and experienced management, aiming for consistent long-term performance. This approach enables managers to seize market opportunities while maintaining strong risk and liquidity controls. 

Both funds can invest across all market caps, adding flexibility to optimise performance and manage risk, which translates to a lower volatility than their benchmarks. This is reflected in the performance of CM-AM Convictions Euro, the team’s foundational fund launched in October 2006, which in addition to outperforming its benchmark has demonstrated particular resilience during economic downturns, reinforcing its defensive profile1.

Deep dive into the investment process 

With over 20 years of experience, the management team leverages sophisticated tools developed in-house, combining qualitative and quantitative criteria to support a fundamental approach. These include the ‘Radar Tool’ to filter the universe and identify opportunities based on growth metrics, earnings revisions, and return ratios; as well as a valuation model that assesses business models using a standardised DCF approach incorporating balance sheet and operational leverage factors. This model allows to estimate the medium-term upside potential of companies. 

The approach, applied consistently across both European and U.S. markets by Jean-Louis DeLay CIO of Crédit Mutuel Asset Management and lead manager of the range, Jean-Luc Menard Head of the Convictions Team, Valentin Vergnaud US Equity Fund Manager & Estelle Bardy Equity Portfolio Manager, counts with ​​€1.472​‌bn2 on CM-AM Convictions Euro and €810m2 on CM-AM Convictions USA. 

ESG

The range is classified SFDR 83, with ESG integrated via a dedicated framework and bonus/penalty system influencing cost of capital. It monitors 2 key metrics: carbon intensity and board gender diversity.

Conclusion

The range’s success in navigating various market environments stems from its investment approach and robust risk management framework. By combining years of experience with a fundamental stock-selection approach, the funds can offer investors access to a differentiated and proven strategy in both European and U.S. markets. The range's proven ability to adapt to changing market conditions makes it a potential attractive solution for investors seeking long-term value creation through active management.

We invite you to discover more about CM AM Convictions! 

Main associated risks: capital loss risk, equity market risk, discretionary management risk, concentration risk, liquidity risk, foreign exchange risk.

1. Source: Groupe La Française as of 30/06/2025. Past performance is not a guide to future performance.

2. Source: Groupe La Française as of 30/06/2025

3. SFDR classification doesn’t guarantee funds’ performance.

4.  

Disclaimer  

Marketing communication for non-professional clients within the meaning of MiFID 2. 

Past performance is no guarantee of future results.

SFDR classification does not guarantee fund performance.                                                                                        

For a full description of the risks and further information on the strategies and all fees, please refer to the current prospectus and key information document available in English on www.creditmutuel-am.eu. The policy relating to customer inquiries and complaints implemented by Groupe La Française is available on our website.

It does not constitute an offer or investment advice. Non contractual information considered to be accurate at the date of publication and likely to change over time.  Crédit Mutuel Asset Management declines all responsibility for any alteration, deformation or falsification of this communication. Any reproduction or modification of this document is strictly prohibited without the express authorisation of Crédit Mutuel Asset Management.

SRI Charter and transparency codes available at www.la-francaise.com 

Source: Groupe La Française, January 2025.  

Crédit Mutuel Asset Management: 128, boulevard Raspail 75006 Paris. Asset management company approved by the AMF under number GP 97 138 and registered with ORIAS (www.orias.fr) under number 25003045 since 11/04/2025Société Anonyme (public limited company) with share capital of euros 3871680 registered with “RCS de Paris” 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 asset management holding company of Crédit Mutuel Alliance Fédérale.

La Française AM Finance Services, an investment firm approved by the ACPR under number 18673 (www.acpr.banque-france.fr) and registered with ORIAS (www.orias.fr) under number 13007808 on 4 November 2016. 

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