Indépendance Asset Management is an independent firm which specialises in investing in small and medium-sized European companies.
They have maintained the same investment policy for 30 years and have achieved an annual return of more than 13% since 1993. They invest in companies that are listed:
a) At low multiples
b) With high margins
c) With high returns on capital employed, mainly family businesses
William Higgons is the president of the company and has been a manager since the beginning. His son Victor Higgons is also a manager and ensures the investment policy is being followed. They also have two very good professionals on the management team to assist them: Audrey Bacrot and Charles de Sivry.
In addition to specific funds and mandates, Indépendance Asset Management offers the following funds:
*Indépendance France Small. This is a French fund that invests mainly in small and medium-sized listed companies. It has around €240m in assets.
*Indépendance Europe Small. This is a Luxembourg fund launched in 2018 that invests in small and medium-sized listed companies. It has close to €100m in assets.
*Family Value (I and II). Family Value I is a closed-end fund dedicated to long-term investments listed in small- and medium-sized French family companies. Family Value II is a closed-end fund with the same focus of investing in small- and medium-sized European companies.
The Family Value team regularly offers its investors visits to the headquarters of its portfolio companies. This is to create a link between the fund’s investors and these companies and for investors to understand the companies in which they invest.
