Indépendance AM

https://www.independance-am.com/

Since January 2023, Indépendance AM has become the new name of Indépendance et Expansion AM.
A new name for a consistent methodology. For over 30 years, we have invested in profitable yet undervalued French and European small- and mid-cap companies, always with a long-term management perspective.

Story
Indépendance et Expansion was founded in 1990, and William Higgons became its manager in 1992.
“Without theory, mankind is condemned to making the same mistakes over and over again.”
Inspired by Leonardo da Vinci’s principle, William Higgons set out to build a clear, rigorous, and replicable investment methodology. Observing that many fund managers were “stock pickers” guided primarily by intuition, he turned to American academic research, where numerous studies highlighted the long-term outperformance of small listed companies.

Based on this evidence, he refocused the fund on small-cap listed businesses, applying a Quality Value strategy. This approach proved highly successful: our flagship fund, Indépendance et Expansion – France Small & Mid, became the best-performing fund in Europe over 30 years.
Between 2001 and 2006, William Higgons gradually took full control of Indépendance & Expansion, reinforcing its independence. The team expanded with new investment specialists. The Europe Small fund was launched in 2018, followed by Family Value in 2021.
In 2023, the firm modernized its identity to better express its vision, becoming Independence Asset Management. A new name, with the same enduring philosophy.