CM-AM Convictions USA Marks Three-Year Milestone with Five-Star Morningstar Rating
10 APR, 2025
By Jose Luis Palmer from RankiaPro Europe
Crédit Mutuel Asset Management, part of La Française and the asset management arm of Crédit Mutuel Alliance Fédérale, has announced the third anniversary of its US equity fund, CM-AM Convictions USA, which has already exceeded €670 million in assets under management. Launched in 2022, the fund replicates the successful model of the group’s flagship European strategy, CM-AM Convictions Euro, which boasts a 19-year track record and €1.3 billion in assets.
CM-AM Convictions USA follows a benchmark-aware yet actively managed approach, targeting long-term outperformance relative to the S&P 500 over a horizon of five years or more. Managed by Valentin Vergnaud and veteran manager Jean-Luc Ménard, the fund applies a conviction-based investment process focused on high-quality US companies. As of March 31, 2025, the portfolio included 52 holdings and is classified Article 8 under the SFDR.
A high-conviction approach driven by megatrends
The fund's strategy centres around four structural themes: technological innovation, well-being and lifestyle, the sustainable economy, and medical progress. These megatrends have formed the backbone of the portfolio since inception and are expected to remain resilient across different economic cycles.
The active conviction-based management of the fund is built on a rigorous financial and extra-financial selection process. Idea generation mainly comes from a quantitative scoring system, which highlights those companies considered the most interesting. The fund primarily focuses on what are viewed as quality stocks, whose growth prospects and cash flow generation are considered visible and resilient across different market phases. Together with a stable management team, this is how we build the 'quality and growth' oriented portfolios within Crédit Mutuel Asset Management’s “Convictions” range. The fund’s assets under management have grown to over €670 million in just three years, reflecting the strong interest of investors in this strategy.
Valentin Vergnaud, co-manager of CM-AM Convictions USA
The fund’s strong early track record has not gone unnoticed: Morningstar has awarded CM-AM Convictions USA a five-star rating over three years, underlining its performance relative to peers. The strategy's rapid growth in assets under management reflects investor appetite for conviction-driven, long-term equity strategies focused on quality and sustainability.
