Credit Agricole European fund

group launches portfolio focusing on undervalued stocks likely to be rerated by the market

Credit Agricole Asset Management has launched a European fund that focuses on a value stockpicking approach. In a separate development, its Paris-based multi-manager team has been chosen to manage the Tectum fund of funds, owned by BSL Asset Management. The CA-Funds Europe Value fund will be managed by Melchior Dechelette and will select stocks from a universe with a low price to book ratio. Dechelette said: "We look for stocks we feel are undervalued by the market and likely to be re-rated within a reasonable timeframe. We look at stock values relative to their sector and prefer economi...