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Jean-Claude Guimiot : « There is no ’Smart Beta’ strategy within our asset allocation program »

According to Jean-Claude Guimiot, CEO of AGRICA EPARGNE (asset management company of the Group AGRICA), invest in "Smart Beta" index is not on the agenda ...

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Next-Finance : What is your view on the current enthusiasm for Smart Beta strategies ?

Jean-Claude Guimiot : Smart Beta indices are in the right direction insofar as they are smarter than traditional indices. This is particularly the case for the CAC 40, the benchmark index of the Paris Stock Exchange, which is subject to reallocation over time based on recent stock performances and whose components are not necessarily representative of real world economy and market.

We are first and foremost "stock pickers". Our management approach is based on the selection of securities, disregarding their respective benchmarks.
Jean-Claude Guimiot, CEO, AGRICA EPARGNE

Dans quelle mesure ce type de stratégies pourrait intégrer votre allocation ? Que faire pour améliorer l’offre ?

Aucune stratégie « Smart beta » ne s’intègre dans notre allocation d’actifs, que ce soit dans une poche active ou passive. C’est du reste la même chose, en ce qui concerne les ETF (« Exchange-Traded Fund »). En effet, chez AGRICA EPARGNE, nous ne faisons pas de gestion indicielle. Par contre les indices restent pour nous, un élément indispensable de comparaison, notamment en matière de performance.

Would you replace a benchmarked fund by a ’Smart Beta’ index?

As I’ve told you this question is not on the agenda. We are first and foremost "stock pickers". Our management approach is based on the selection of securities, disregarding their respective benchmarks. This means to pick values likely to deliver the best performance while maintaining a reasonable level of risk.

RF , April 2013

Article also available in : English EN | français FR

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