Unigestion’s decision to partner with Kepler Cheuvreux to launch a joint asset management entity specialising in quantitative public equities was driven by the fund’s need for distribution capability.
Swiss boutique fund manager Unigestion, with US$15 billion assets under management, has pioneered quant-driven active funds, but was constrained by lack of a sales network. Now, a partnership with French broker and advisory firm Kepler Cheuvreux will remove this constraint.
Speaking exclusively to Global Trading, Alexei Jourovski, head of equities at Unigestion, who oversees the funds involved in the partnership, explained the key drivers behind the deal. “Kepler has a deep and very wide network across continental Europe. We are a relatively small company with more limited business development reach, so partnering with Kepler is like putting ourselves on steroids from that perspective,” he said. He added that Kepler Cheuvreux’s established regional offices and institutional client base enable Unigestion to present its offering to a broader audience.
Jourovski also emphasised the strategic role of research. “While our press release highlights artificial intelligence and quantitative approaches, our competitive advantage is really about the human element combined with machine efficiency—our ‘mind and machine’ concept,” he explained. He clarified that the approach is not merely a quant strategy with minimal human intervention. Instead, he compared it to flying an airplane: “For about 80% of the flight, autopilot works best, but when turbulence hits, a human takes over.”
On the technical side, Jourovski outlined that the firm uses a mix of neural networks along with simpler data science techniques such as gradient boosting and random forests—to classify stocks into groups based on their expected three‐month returns. This classification framework allows for essential human oversight and risk management, given that the investment process is not based on high-frequency trading.
The new venture, which will manage over €3 billion in assets, will initially operate under Kepler Cheuvreux Suisse before transitioning into a jointly governed company. Under the arrangement, Unigestion will transfer its mandates and integrate its equities team into the combined operational framework, while its trading desk remains responsible for executing trades.
Recent developments in quant management have shown that other major asset managers are also investing in strengthening their quantitative capabilities; Northern Trust has recently bolstered its quant team by recruiting top talent from APG.
Read more : https://www.globaltrading.net/northern-trust-nabs-apg-quants/
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