ZADIG AM / WHAT WE DO
Universe:
Zadig Asset Management is specialised in European stock picking. Our research team covers 600 corporate entities in Europe. Our hands-on bottom-up approach to investment means our research team travels around Europe to meet the managers (CEOs, CFOs and IR) of the companies we cover. Our research team organises more than 1000 meetings per year in order to build our proprietary valuation models. We never rely on sell side-analysts' investment recommendations.
Research Process:
For every investment case our research team looks at, we will perform an in-depth review of the company’s financial statements, with an emphasis on cash flow generation, return on capital employed and track record of shareholder value creation. Following this, we will use our experience to value the equity of the company using the most appropriate valuation model (DCF, Sum of the Parts, Peer comparison, Bear/Bull scenarios) to compute a target price for every company we meet. Our experience in the area is the core added value of our research team.
Investment Process:
We give ourselves a 1 to 2 year investment horizon and believe in building portfolios which are a diversified concentration of the best research ideas we can find. We can only have a limited number of strong convictions per year and need to capitalise on these. The risk-adjusted return potential of each investment is reviewed daily and only the best investment ideas remain in the portfolio. If we can find a better prospective risk-adjusted return elsewhere, we will take the opportunity: only the fittest investment cases will survive in our portfolios.
Portfolios:
Zadig Asset Management is Investment Advisor for Zadig Gestion Luxembourg, a CSSF regulated Management Company managing the Memnon Fund and the Zadig Fund as well as Mandates for Institutional Investors.