New Organization

Pléiade AM was founded by Louis de Montalembert and Olivier de Trogoff in 2008; together they developed the company’s DNA and the investment strategy that bore positive results. In the beginning of 2015, Olivier de Trogoff wished to leave Pléiade AM to devote himself to his Business Angel activity. Louis de Montalembert decided to pursue the adventure alone: ​​he breathed in new working methods and developed the team.

What are transaction fees?

Transaction fees – or commissions – are a way for asset management firms to pay themselves every time they place a market order. In other words, when a fund sells a stock in the portfolio to purchase another, it charges a fee. These commissions are often opaque, and you need to dig deep in the management contract’s small print to find out their extent. We believe such commissions are incompatible with our policy of aligned interests. And to make sure there is no possible confusion, we even bear the cost of turnover fees our custodian charges.

What is the High-Water Mark?

In the best interests of our investors, we apply a high-water mark to both of our funds. A performance fee is only levied when the year-end NAV is greater than the highest past year-end NAV. Pléiade AM is one of the only Paris-based management firms to offer such a deal.

 

SIMULATION

How to invest

PAM Select is a French mutual fund (FCP) open to all investors.

ISIN: FR0010652479

The minimum investment is 10 units.

 

PAM Small Companies is a French mutual fund (FCP) open to all investors.

ISIN: FR0013079266

The minimum investment is 10 units.

PAM iQ Market Neutral Europe is a French mutual fund (FCP) open to all investors (R Units),
and particularly to institutional investors (I Units).
ISIN (I Units) : FR0013348562
The first minimum investment is 1.000.000 euros, minimum investment afterwards is 50.000 euros
ISIN (R Units) : FR0013348554
The minimum investment is 10 units.

The investment procedure is simple:

Any investor who chooses to invest in our funds should place an order with their bank or brokerage firm. State the ISIN code and specify how much – amount or number of units – one wish to invest. The investment is completed on the same NAV date. Our funds are valued every Friday (PAM Small Companies) / every day (PAM Select) at closing price. Net Asset Values are calculated by our custodian, CM CIC, and approved by us. Feel free to contact us if you require further assistance.

How much should I invest?

The minimum investment threshold is deliberately low (10 units) to make our funds easily accessible to many. You should not consider making an investment to “play the market”, however, but rather see it as an investment in the share capital of a company, and mitigate market risk by investing money that you will not need in the short or medium term.

What are the implications of our management style?

We manage listed equity funds, and make no decisions based on market movements or macroeconomic assumptions. This means that we are always heavily exposed to market volatility, as unpleasant as this may be, at least momentarily. Hence the importance of investing exclusively in “long-term” resources, so we are never forced to liquidate at the wrong time.

PAM SELECT OR PAM SMALL COMPANIES ?

PAM Select and PAM Small Companies are both funds mainly invested in European Union shares. So what makes them different?

 

PAM Select

 

PAM Select can be invested in businesses of any size, albeit with two “downward” constraints: the fund cannot invest in market caps lower than €150m, and must limit exposure to market caps below €500m to 25% of total assets.

 

PAM Small Companies

 

Conversely, PAM Small Companies focuses on smaller market capitalisations. Fund-holder liquidity is protected by a commitment to invest at least 25% of the funds in market caps greater than €500m.

Ultimately, choosing one or the other can be a question of taste, but also of acceptable levels of risk: you may consider that small companies carry greater risk – but perhaps also greater potential – than big businesses.

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