 IT ASSET MANAGEMENT
Who are IT Asset Management 's shareholders ?
Established in 1994, IT Asset Management is owned 50% by its co-founders, Muriel Faure and Benoît Flamant. Other staff own 10% through a stock-options plan. The remaining 40% is owned by Raymond James Aset Management International, a subsidiary of Raymond James Financials, itself established in St Petersburg, Florida, USA and listed on the NYSE.
Why choose an entreprenerial company ?
- Commitment - as the portfolio managers own the company, their motivation cannot be higher,
- Stability - a track record extending over more than 10 years with the same management team,
- Independence - enables us to keep away of the noise and invest beyond short lived fashions and trends. It also allows to better maintain our investment process and investment discipline.
Having only the client to report to definitely is an advantage when one is considering building consistent and sustainable performance over the long run.
What kind of agreement does IT Asset Management benefit from ?
The company has been recognised as a portfolio management company and granted the general agreement by the French regulatory authority under the number AMF N° 94-04 on August 18 th 1994.
Does IT Asset Management offer an investment vehicle for European investors ?
Yes, the SICAV IT Funds . Recognised by the CSSF ( Luxembourg regulatory authority) and registered for distribution in Switzerland and in various other countries of the European Union ( Austria, Belgium, France, Italy and the U.K.).
What do IT Asset Management’s portfolio management teams have in common ?
The Information Technology and Biopharma teams both combine a solid financial capability with a experts insight into the industry. Both teams comprise seasoned portfolio managers with senior industry experience.
Do IT Asset Management's portfolio management teams share any common investment policy ?
Yes, their goal is to grow the invested capital over a medium term period (typically 5 years and more).
To this purpose the teams share the following caracteristics :
- IT Asset Management specialises in managing asset classes with a high technology content.
- Both teams rely on fundamental in house research.
- Portfolio management is active, disciplined and independent from any benchmark.
- The style is a pure stock-picking approach following qualitative & sector filters aimed at reducing the universe of investible stocks.
- Portfolios are concentrated (less than 50 stocks).
What do we mean by stock-picking ?
Stock-picking is a stock selection technique based on the stock’s own criteria independently from the overall sector to which it belongs or from the overall stock market. Stocks are bought on their intrinsic value and growth potential (addressable market, strategy, franchise, strength of the management, financial strength, outlook…).
What do we mean by active management ?
Most portfolio managers tend to manage funds and portfolios according to a given benchmark. In doing so they have renounced selecting stocks per se and restricted themselves to limited “bets”. The latter thus shadow the chosen index. There is almost no difference anymore between this type of fund and the corresponding tracker (the rigorous mirror of any given stock index).
Contrary to this trend, the weight of a stock in the benchmark never influences IT Asset Management’s decision process. We believe that a benchmark is a necessary tool to measure fund performance, but should not be used to build a portfolio. While indexes reflect both current & past leadership, active management aims at investing in the new leaders.
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