LA FRANÇAISE PRESENTATION - Veritas Institutional · PRESENTATION VERITAS INSTITUTIONAL EVENT -MAY...

PRESENTATION VERITAS INSTITUTIONAL EVENT – MAY 2019

LA FRANÇAISE PRESENTATION

PATRICK RIVIÈRE

1

23rd of May 2019

PRESENTATION VERITAS INSTITUTIONAL EVENT - MAY 2019

SUMMARY

La Française Group presentation

La Française Group assets under management & inflows

La Francaise in the market

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LA FRANÇAISE GROUP PRESENTATION

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LA FRANÇAISE GROUP (1/5)Organisation & Shareholder

Since

1975

602 professionals

as at 31/12/2018

Over

€65,7 bnIn assets

as at 31/12/2018

La Française Group


LA FRANÇAISE GROUP (2/5)Expertises & distribution

Fixed Income

Direct real estateEmerging manager incubation

Alternative investments

Cross-Asset Equities

Funds of hedge funds

Indirect real estate

Real estate securities

Alternative financing

Private equity

Third party funding

Dedicated solutions

Management company

Corporates Institutionals

BanksIFA /

PlatformPrivateBanks

Digital Privateclients


LA FRANÇAISE GROUP (3/5)Clients base

6

IFA’s dedicated teams

Open-architecture

investment platform :

CD Partenaires

Offer tailored to private clients

A Real Estate products offer dedicated to retail

clients (historical segment)

New clients on a disruptive digital platform

Moniwan

La Française deploys

its business model

with institutional, both

in France and abroad

International distribution

platform in Luxembourg

385

international

clients


LA FRANÇAISE GROUP (4/5)Global reach, local market expertise

7

La Française distributionAffiliates and

partnerships

La Française (Distribution et

asset management centers)

Asset management centers or investment advisory

services:

Paris, Frankfurt, Hamburg, London, Hong Kong,

Singapore, New York (Alger)

Distribution:

Austria, Belgium, Canada, France, Germany, Hong Kong,

Italy, Japan, Luxembourg, Singapore, South Korea, Spain,

Switzerland, UK

Over the course of 5 years, La Française has

expanded its reach across the globe

Main domestic clients Main International clients


Strongly committed to SRI since 2009 with the launch of the first SRI collective real estate investment vehicle

The group has placed CSR at the core of its philosophy since 2010 when it signed the Principles for

Responsible Investment (PRI).

Development of responsible investment research, advisory services and related investment products

An innovative proprietary investment philosophy : SRI impact investing

About €3,3 bn managed on SRI strategy, 12 mutual funds, 20 experts

Innovative range of products on Impact Investing strategy :

“Climate Change” investment solution : Carbon Impact Investment funds (€230 M AuM)

A new Carbon Impact target maturity fund will be launched in 2019

LA FRANÇAISE GROUP (5/5)A strong commitment to CSR & SRI


LA FRANÇAISE GROUP ASSETS UNDER

MANAGEMENT & INFLOWS

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LA FRANÇAISE ASSET UNDER MANAGEMENTA robust and proven business model

10

Total assets under management, March 2019 (€Bn)

+ 13,1 %Average Annual

Growth Rate

At the end of March 2019, the total assets

under management of La Française group

is 68 Bn€

La Française Assets under management

growth slightly weakened in 2018 due to the

loss of the CMNE insurer's outstanding

amounts following its merger with the CM-

C11 insurer ~10 Bn€

This important outflow has been offset by

outstanding external inflows over 2018 and

the inclusion of Veritas AuM

Source: La Française, 31/03/2019

5,8 5,8 7 7,8 9,7 11,5 13,2 14,5 16,1 19,2 201 1,9 1,9 1,8 2,11,7 2,126,1 29 27,8 29,5

30,132,3 33,8 36,1 37,1 31,8 32,91

2,53,8

7,510,9 13 13

31,934,8 34,8 37,3

41,848,2

52,7

59,966,2 65,7 68,0

0

10

20

30

40

50

60

70

80

0

10

20

30

40

50

60

70

80

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Real Estate Direct financing Securities Investment Solutions

Total Net Flows 2019, March 2019 (€M)

2,7 €Bn

march


KEY ELEMENTS INTERNATIONAL BUSINESS

11

18 Bn€ AuM

28% of La Française AUM

Presence in Europe, Asia,

Latin America,

Middle East and Canada

36 Sales

2,4 Bn€ net inflow

40% of the group inflow*

More than 300 clients

(AuM > 1M€)

9 people dedicated to sales

support and international

marketing

*excluding CMNE insurer

PRÉSENTATION CONFIDENTIELLEPRESENTATION VARITAS INSTITUTIONAL EVENT – MAY 2019

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VERITAS MULTI-ASSET EXPERTISE: A STRONG COMPLEMENTARITYReinforce our local presence in Germany, and extend it to securities

With Veritas

institutional

La Française diversified funds stood at 4,2 €bn in December 2018, which is nearly 17% of our total AuM on securities expertise,with merely 100 €K from German clients

The inclusion of Veritas Group cross asset expertise, brings the diversified expertise to 11 € bn, i.e 36 % of La Française securitiesAuM, and strengthen the German base clients of the Group on this expertise (6,7 €bn)

Veritas institutional is becoming a key factor in the development of La Française’s multi-Asset expertise

La Française AM and Veritas AuM in €M – Dec. 2018


FOCUS INTERNATIONAL – ASSETS UNDER MANAGEMENTInternational clients represent 28% of the total AuM

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AuM has more thandoubled in 3 years

Germany is now the second biggest market of La Française

Breakdown by expertise

13%8 Bn€

14%9,3 Bn€

28%18,4 Bn€

2016 2017 2018

Benelux2,9

UK1,6

Spain1,4

Italy0,9

Switzerland0,2

Europe*

Germany

8

1,8

0,2

0,1

0,04

Asie

Amériques

Afrique

Moyen Orient

Asia

America

Africa

Middle-East

Securities

11,6 Bn€

Real Estate

4,1 Bn€

2,6 Bn€

* Excluding France, Benelux, Spain, Italy et UK

In Bn€

La Française’s

Germany Assets

under Management

set to rise to 8 Mds€

Source: la française, 31/12/2018


FOCUS INTERNATIONAL – NET INFLOWAround 40% of the net inflow comes from international clients

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40% of Group net inflow in 2018, or €2.4 billion, generated outside France*

Dynamics of the 4 historical countries

Breakdown by expertise

25%1,5 Bn€

20%1,2 Bn€

40%2,4 Bn€

2016 2017 2018

* Excluding CMNE insurer

Germany591

Benelux499 Spain

496

Italy417

UK210

Switzerland 99 Europe*43

31

18

17

- 1

Asie

Moyen Orient

Amériques

Afrique

In Bn€

* Excluding France, Benelux, Spain, Italy et UK

Asia

Middle-East

America

Africa

Real Estate

761 M€

Securities

526 M€

Source: la française, 31/12/2018


LA FRANÇAISE IN THE MARKET

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EUROPEAN AND GLOBAL MARKET POSITION - REAL ESTATE 21st biggest European player

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26st Top European

Real Estate

Investment

Managers at the end

of 2018

European Market Position

Total Gross value of Real Estate AuM in Europe, 31/12/18 (bn€)

Data : IPE, dec 2018

Ranking CompanyTotal Real

Estate AUM (€Bn) 31/12/18


REAL ESTATE - FRENCH MARKET POSITIONLeader on the Real Estate Mutual funds (SCPI)

17

Real Estate Leader

on its domestic

market

Data : IEIF, December 2018

Rankdec. 2018

Management companyCapitalisation

dec. 2018Mkt Share

Rankdec. 2018

Management companyNet Inflows

2018Growth Inflows

2018Mkt

Share

1 La Française REM 8 834 M€ 16,0% 1 Primonial REIM 861 M€ 878 M€ 13,5%

2 Amundi Immobilier 7 172 M€ 13,0% 2 Amundi Immobilier 727 M€ 847 M€ 13,1%

3 Primonial REIM 5 913 M€ 10,7% 3 La Française REM 554 M€ 705 M€ 10,9%

4 AEW Ciloger 5 603 M€ 10,1% 4 Corum AM 526 M€ 537 M€ 8,3%

5 BNP Paribas REIM France 4 875 M€ 8,8% 5 BNP Paribas REIM France 339 M€ 446 M€ 6,9%

6 Sofidy 4 273 M€ 7,7% 6 AEW Ciloger 23 M€ 420 M€ 6,5%

7 Perial Asset Management 3 302 M€ 6,0% 7 Sofidy 327 M€ 414 M€ 6,4%

8 HSBC REIM France 2 353 M€ 4,2% 8 Perial Asset Management 266 M€ 355 M€ 5,5%

9 Unofi 2 300 M€ 4,2% 9 VOISIN 345 M€ 350 M€ 5,4%

10 Corum AM 1 713 M€ 3,1% 10 PAREF Gestion 209 M€ 228 M€ 3,5%


LA FRANÇAISE GROUPSecurities expertise

18

LFGAM

32,9 Bn€ assets

under management31/03/2019

Data : INDEFI, Les Echos, December 2018

Ranking Company

AuM

31/12/2018

€Bn

1 Amundi 1 425

2 Natixis IM 802

3 AXA IM 730

4 BNP Paribas Asset Managers 565

5 Ostrum AM 265

6 La Banque Postale AM 220

7 Lyxor AM 132

8 Groupama AM 99

9 Covéa Finance 95

10 OFI AM 72

11 La Française 65

12 CM-CIC AM 59

1 BNPP AM 95 11 HSBC Global AM 59

2 Amundi AM (y.c. Pioneer) 92 12 Allianz GI 56

3 La Française AM 90 13 CM-CIC AM 55

4 Natixis IM 90 14 Tikehau IM 55

5 OFI AM 76 76 15 La Financière de l’Echiquier 50

6 Axa IM 75 16 Lyxor AM 50

7 Edmond de Rothschild AM 73 17 Idinvest Partners 46

8 Lazard Frères Gestion 70 18 CPR AM 42

9 Rothschild MM AM 69 19 Swiss Life AM 42

10 Oddo BHF AM 66 20 Groupama AM 41

…

Total pour 130 SdG 2 662


AWARDSLa Française Funds

The LF Multistratégies Obligatairesfund has received the highest rating and is recognized as the winner of the year 2018 in the "euro bond fund" category by SharingAlpha

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LFIS Named Best Quant Manager at

the Risk Awards 2018

LF Multistratégies Obligatairesfund

LFIS Vision UCITS Premia fund

La Française Forum Securities awarded “Best Sustainable Real Estate Fund Manager of the Year” by Property Funds World, in 2018

LF Lux – Sustainable Real Estate Securities

DISCLAIMER

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The information and material provided herein do not in any case represent advice, offer, solicitation orrecommendation to invest in specific investments. All information and data included in this document isconsidered as accurate at the date of its preparation considering the economic, financial and stock-exchangerelated context at that date and reflect the perspectives of Group La Française on the markets and theirevolution. It is subject to change and does not represent or create contractual obligations. It should be noted thatpast performance does not necessarily determine future performance which may vary over time. With regard tofinancial, economic and stock-exchange related risks, no guarantee can be issued that the present products willattain their stated objectives.

These products may be subject to restrictions with regard to certain persons or in certain countries undernational regulations applicable to such persons or countries. NOTABLY, THIS PRESENTATION ISEXCLUSIVELY INTENDED FOR PERSONS WHO ARE NOT U.S. PERSONS, AS SUCH TERM IS DEFINED INREGULATIONS OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT) AND WHOARE NOT PHYSICALLY PRESENT IN THE UNITED STATES.

Investment products referenced in this presentation are not directed at and suitable for all types of investors.Potential subscribers are requested to carefully and independently assess the legal and commercialdocumentation provided and notably the risks entailed and to seek appropriate professional advice wherenecessary (including regulatory and fiscal aspects) in order to determine the investment product’s potential toreach predefined investment objectives.

Depending on the strategy of the investment vehicle, data considered as « internal » might differ from thatmentioned in the prospectus. It shall be reminded that such internal data are not binding, the ManagementCompany remains fat liberty to modify them without prior notice within prospectus guidelines, which alone areadmissible. As a consequence, investors are reminded that all data shown in this document and not mentionedin the prospectus are meant for information purposes only. Investors must form their investment decision basedonly on the information mentioned in the prospectus. In the event of an infringement or change of internal data,the Management Company will not proceed to any specific disclosure as long as these modifications have noimpact on the prospectus. By “internal data”, the Management Company means a set of elements including butnot limited to: fund management internal guidelines, economic analysis, market and/or fund managementcommentaries.

Morningstar and/or Lipper ratings are subjected to copyright. All rights reserved. The present information: (1)belongs to Morningstar and/or Lipper and/or to their information providers, (2) can be neither copied norredistributed, (3) is provided without guarantee of accuracy, completeness or timeliness. Neither Morningstarnor Lipper, nor their information providers can be held responsible for damages or losses caused by the use ofthis information.

The legal and commercial documentation is available on the Group La Française website (www.la-francaise.com) and / or upon simple request to your usual financial interlocutor.

In accordance with Directive (n°2014/65/UE) on markets in financial instruments (MIF II), the client is entitled toreceive, upon request, more detailed information regarding the compensation relative to the sale and marketingof the present product from the client’s financial advisor.

This document and all information contained within are strictly confidential. The material provided herein is forinformational purposes only and is directed only at the person it has been delivered to by La Française AMInternational (international distribution platform of Group La Française). All distribution / disclosure of any of thecontents of this presentation to third parties in any form is strictly prohibited unless prior written agreement isgiven by Group La Française. In addition, all names, trademarks, logos and slogans identifying Group LaFrançaise products or services are exclusive property of Group La Française and are restricted from use of anykind unless prior written agreement is provided by Group La Française.

This presentation has been prepared by La Française AM Finance Services, regulated by the “Autorité deContrôle Prudentiel et de Résolution” as an investment services provider under the number 18673, registeredwith Registry of Insurance Intermediaries “ORIAS” under N 1300708 since November 4th 2016, approval (i.e. theCarte professionnelle) granted by the Paris Ile-de-France “Chambre du Commerce & de l’Industrie” under CPI N7501 2016 000 010432 – Transactions on Buildings and Business Assets – affiliate of Group La Française, anasset management group which is comprised of the following asset management companies: CD Partenaires,intermediary in banking and payment services, life insurance broker and tied agent of La Française AM FinanceServices, registered with Registry of Insurance Intermediaries “ORIAS” under N 07022729 since March 14th2014, approval (i.e. the Carte professionnelle) granted by the Paris Ile-de-France “Chambre du Commerce & del’Industrie” under CPI N 7501 2016 000 013 991 – Transactions on Buildings and Business Assets; La FrançaiseAM International approved by the CSSF on December 20th 2002; La Française Investment Solutions, approvedby the “Autorité des Marchés Financiers” under N GP-13000004 on February 12th 2013; La Française AssetManagement, approved by the “Autorité des Marchés Financiers” under N GP97076 on July 1st 1997 ; LaFrançaise Inflection Point, approved by the “Autorité des Marchés Financiers” under N GP9755 on June 30th1997; La Française Global Real Estate Investment Managers, registered in England and Wales under N8580051 with “Companies House Cardiff” agency; La Française Real Estate Managers, approved by the“Autorité des Marchés Financiers” under N GP07000038 on June 26th 2007, approval (i.e. the Carteprofessionnelle) granted by the Paris Ile-de-France “Chambre du Commerce & de l’Industrie” under CPI N 75012016000 006 443 – Transactions on Buildings and Business Assets and Real Estate Management; New AlphaAsset Management, approved by the “Autorité des Marchés Financiers” under N GP-05000001 on January 20th2005; ACOFI Gestion, approved by the “Autorité des Marchés Financiers” under N GP97118 on November 28th1997; Siparex Proximité Innovation, approved by the “Autorité des Marchés Financiers” under N GP-04000032on April 27th 2004.

This presentation is not subject to AMF approval and was not submitted for approval to the AMF. Thispresentation is not subjected to the approval of the local Regulator.

Internet information for the regulatory authorities Autorité de Contrôle Prudentiel et de Résolutionwww.acp.banque-france.fr, Autorité des Marchés Financiers www.amf-france.org, Registre des Intermédiaires enAssurance ORIAS www.orias.fr, Commission de Surveillance du Secteur Financier www.cssf.lu.

LA FRANÇAISE GROUPRCS Paris 480 871 490

128 boulevard Raspail

75006 Paris – France

Tel. +33 (0)1 73 00 73 00

Fax +33 (0)1 73 00 73 01

LA FRANÇAISE GROUP

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For forty years, La Française has

been developing core

competencies in third party

asset management.

La Française has a multi-expertise

business model organized around four

core activities: securities, real estate,

investment solutions and direct

financing. The group caters to

institutional and private clients throughout

the world.

With 639 professionals and

offices in Paris, Frankfurt,

Geneva, Hamburg, Stamford (CT,

USA), Hong Kong, London,

Luxembourg, Madrid, Milan,

Seoul and Singapore, La

Française manages over €65bn

in assets (as at 01/01/2019).

La Française is a forward-looking

responsible investor and as such,

incorporates tomorrow’s challenges into

today’s investment strategy.

La Française is owned by Credit Mutuel

Nord Europe (“CMNE”), a banking and

insurance group present in Northern

France and Belgium with total regulatory

capital of €3.2bn as at 30/06/2018.

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