- Our main products
- Our company
- Volatility, Value equity, Asset Allocation and Behavioural Finance
- Contact us
CCR Asset Management was born from the merger on 30 June 2009 between the investment management subsidiaries of CCR Group – CCR Gestion and CCR Actions – and UBS Global Asset Management (France). CCR Asset Management is a fully owned subsidiary of the UBS Group.
The choice of CCR Asset Management as the new name for its French subsidiary is a sign of the UBS Group’s confidence in local investment management skills, and confirms its ambitions for future developments in France. Our “European Value”” and “volatility” investment capabilities have become a key part of UBS Global AM”s global offering since 2008.
Our ambition is to expand our presence in France and to widen distribution to our products on other markets, especially in Europe, by using strong local investment skills whilst benefitting from the resources and analytical and research backing of one of the leading global investment managers.
Our objective is to provide innovative investment solutions which are adapted to the needs of our institutional clients and distributors, using both locally managed niche products as well as global investment solutions provided by the various investment management capabilities within UBS Global Asset Management worldwide.
Our hallmark, committed investment management, bears witness to our commitment based on the 4 founding values of our company: performance, client proximity, expertise and innovation
Volatility, Value equity, Asset Allocation and Behavioural Finance
Volatility
CCR AM was one of the first French portfolio management groups to set up an investment division dedicated to volatility; a new “investable” asset class decorrelated from traditional markets.
With more than 10 years of experience in this asset class, CCR AM is one of the leaders in volatility investment management in France. CCR AM is UBS Global AM’s worldwide volatility portfolio management pool of expertise.
Investment Philosophy
In taking into account the specificities which distinguish volatility from traditional asset classes, it is possible to generate performance through arbitrage and directional volatility strategies based on the various types of products:
Volatility products
- Directional funds:
The objective is to take long or short volatility positions based on fundamental or technical analysis. - Arbitrage funds:
The objective is to capitalise on volatility arbitrage opportunities between different equity indices, an equity index and a single stock, between fundamentally linked issuers (e.g. 2 companies within the same sector) or between strike price and maturities of the same issuer.
Value Equity
A specialist since 1998 of this investment management style, CCR AM is UBS Global AM’s worldwide Euro and European “value” investment management pool of expertise.
The value approach consists in investing in equities which present a significant unjustified discount relative to other companies in the same sector, anticipating that the misvaluations will be reduced over time.
Investment Philosophy
CCR AM’s “value” team members assume the dual roles of portfolio managers and analysts. They all share the same investment philosophy: "Distinguishing between value and price". Its “value” investment style aims to capitalise on the spread between share price and the intrinsic value of the company.
Consequently, the team seeks to:
- Find stocks trading at a relative discount to the market, to their industry or compared to historic levels
- Identify catalysts which may lead to a market revaluation linked to improvement in profitability
The team is wary of any approach based on the following:
- Stocks which have a high dividend but without any potential for pice appreciation
- Fallen angels with no visibility on the timing of any market reappraisal
The approach involving the search for catalysts is often contrarian as it leads to the selection of stocks which have been neglected by the market.
Asset Allocation and Behavioural Finance
CCR AM’s Paris-based asset allocation team seeks to create performance regardless of market conditions, by taking advantage of investment opportunities offered across a wide range of asset classes.
Our main strengths:
- We have the benefit of CCR AM’s many fields of expertise in France (European equities, fixed income and credit, volatility, convertible bonds), plus the expertise of the UBS group in US equities, emerging markets, alternative investment management, non-traditional assets, and more.
- We have access to the selection of funds carried out by the worldwide team of expert analysts of the UBS Group, one of the pioneers in the field, with more than eighteen years experience.
Investment Philosophy
- The funds are managed on a discretionary basis depending on the allocation policy laid down by the investment committee.
- The investment committee meets weekly to define portfolio allocation, based on macroeconomic data, correlations between asset classes and the risk/return profile of each.
- The allocation carried out by the management team allows the portfolio to be invested in a wide range of asset classes with very different and complementary characteristics matched to the market’s various phases: international equities (European, American, Japanese or emerging market), fixed income (money market, bonds, etc.) alternative investment and other non-traditional assets (commodities, volatility and real estate).
- With long experience in risk management, the team has developed a new, original and innovative approach based on behavioural finance.
Vente internationale
-
Regis Gaston-Breton
+33 1 49 53 21 97
regis.gaston@ubs.com -
Jean-François Sarlat
+33 1 49 53 58 25
jean-francois.sarlat@ubs.com
Press contact
Priscille CLEMENT
CCR Asset Management
44 rue Washington
75008 Paris
Phone: +33 (0)1 49 53 21 40
E-mail: priscille.clement@ubs.com