A committed and responsible collective management

Tocqueville Finance: your equity investment partner

Tocqueville Finance has always been recognised as a specialist in French and European Value and Small and Mid Cap stocks. Today, its portfolio management expertise covers the Growth style as well as a wide range of thematic investments (silver age, technologies, megatrends, etc.).

As a global provider of investment solutions, Tocqueville Finance has been active in the equity markets for 30 years. This asset management company considers it a strength to be able to maintain its boutique culture while being backed by a solid shareholder that provides visibility to clients and all stakeholders.


Its objective is to deliver alpha, year after year, through the effective sharing of ideas and analysis within the portfolio management team while favouring calibrated and responsible risk-taking. Tocqueville Finance’s portfolio managers focus on innovation, moving away from benchmarks to conduct conviction-based stock-picking. Their field of action is Europe with an increasingly international prism in order to be able to capture all market opportunities, their approach is unconstrained (all styles, all capitalisation sizes, etc.)

Tocqueville Finance also focuses on the meaning and usefulness of its investments. The portfolio management team, made up of highly experienced men and women, works every day to help the companies in which it invests integrate their extra-financial approach.


To this end, the asset management company wishes to devote part of its management fees to financing concrete projects in order to promote useful finance. It has therefore entered into a first partnership with the Louvre Endowment Fund through its French thematic fund, Tocqueville France ISR, in order to promote the arts and culture in the regions.

Our investment philosophy

The portfolio management philosophy that applies to all our funds is based on an organisation in which the portfolio managers carry out direct analysis and research on stocks by combining their expertise and sharing their opinions.

This philosophy is based on three pillars:

1. Meticulous and independent financial and extra-financial analysis

  • This is based on an intimate knowledge of the entrepreneurial fabric, with an emphasis on mastery of business models and proximity to the key men and women who drive them.
  • Tocqueville Finance’s financial and extra-financial analyses are based on proprietary models of Tocqueville Finance and LBP AM integrating all key dimensions of the company.
  • Idea generation is also based on the use of internal quantitative and qualitative databases that are continuously enriched.

2. Dynamic portfolio allocation

The allocation policy is guided by internal studies synthesising our main macro and micro economic views. It allows us to define an investment strategy in line with the current phase of the economic cycle.

3. Rigorous risk management

This is implemented at each stage of the investment process: from the analysis of the investment case – identification of the key sensitivity factors of the case, calculation of the risk characteristics of the investment – to the construction of the portfolio. It allows the risk of each portfolio to be monitored and to check that it reacts in accordance with the portfolio managers’ expectations over time.