Conviction and Methodolgy: The Art of Generating Alpha in European Mid Caps
28 OCT, 2025
By Juan Diaz from Indépendance AM
By Juan Diaz, Development Director, Indépendance AM
Indépendance Europe Mid is a natural extension of Indépendance AM’s Quality Value philosophy. Launched in 2024, the fund delivered a +26.1% return in its first year, outperforming its benchmark by +10% and confirming its ability to generate alpha.
At Indépendance AM, every new fund builds on a strategy honed over 30 years. Indépendance Europe Mid expands the investment universe to medium-sized European companies while maintaining the same rigorous approach: selecting profitable, growing, well-managed businesses with attractive valuations.
Why Mid Caps?
European Mid Caps offer exceptional diversity. Many are international players with billion-euro capitalizations, less visible than large groups but equally robust. They combine growth, financial clarity, and reasonable valuations—ideal for a disciplined, fundamentals-driven strategy.
What is your selection and analysis process?
Indépendance AM does not rely on macroeconomic forecasts or market timing. Instead, it conducts deep, bottom-up analysis: reading annual reports, visiting production sites, meeting management teams, and understanding business models. This hands-on approach builds coherent portfolios where each position adds structural value.
When a company no longer contributes to performance or drags down the portfolio’s average valuation, its weight is reduced to make room for better opportunities. This disciplined rotation is a hallmark of the firm’s identity.
Performance and Legacy:
By September 2025, Indépendance Europe Mid has achieved +26.1% performance, validating the Quality Value approach in a broader universe. The fund benefits from the experience of Indépendance Europe Small fund, launched in 2018, which already included 25% Mid Cap exposure and has delivered a net annualized return of +17.3%, with +8.5% annualized alpha versus the STOXX® Europe ex UK Small NR.
The Team Behind the Strategy:
The arrival of Vincent Rouvière as lead manager, supported by analysts Mathilde Neau and David Longo, has strengthened the team’s analytical depth. Today, ten professionals focus exclusively on identifying listed European companies that meet Indépendance AM’s strict criteria.
A Distinctive Investment Philosophy:
For Indépendance AM, investing is not about chasing trends or collecting trophies. It’s about building a resilient structure—like a bridge that withstands time, market currents, and decision weight. Each company in the portfolio plays a structural role. If it no longer fits, it is replaced by one that strengthens the whole.
Valuations are constantly monitored. Positions that have appreciated excessively and no longer contribute to the fund’s balance are adjusted to make way for new ideas. This dynamic yet disciplined approach is the firm’s signature.
Europe Mid: A New Expression of Proven DNA
One year after launch, Indépendance Europe Mid has proven itself as a robust extension of the firm’s DNA: a patient, conviction-driven strategy applied with precision. Discipline, far from being a constraint, is the foundation of long-term performance.
Where to Learn More:
detailed information on strategy, portfolio composition, and performance is available at www.independance-am.com, including monthly factsheets, performance reports, and comparative analyses that reflect the strength of the firm’s approach.
You will also be able to find our email adresses and phone numbers for deeper informations.
