French small & mid caps
Mansard France Small & Mid
Forty to fifty French companies, most of them visited in person, many run by the families that own them.
NAV · I EUR Acc
228.91
YTD +12.6%
Key figures
The fund at a glance.
As of
30 Sept 2026
Launch date
2 Sept 2013
Assets
€265m
Holdings
46
Main ISIN
FR00MANSRD11
Domicile
France
Legal form
FCP (UCITS)
Dealing
Daily, cut-off 12:00 CET, NAV D
Depositary
[Your depositary]
Fund administrator
[Your fund administrator]
Auditor
[Your auditor]
Ongoing charges
1.05% (I) · 1.95% (R)
Performance fee
None
Risk indicator (SRI)
Lower
Higher
SFDR · Art. 8
Performance
Net of fees, against its index.
Share class I EUR Acc, rebased to 100 at the start of the period. Hover the line to read any month; choose the period on the right.
Share class I EUR
YTD
1Y
3Y ann.
5Y ann.
France Small & Mid
+12.6%
+15.1%
+5.8%
+4.9%
CAC Mid & Small NR
+10.4%
+12.8%
+3.9%
+3.6%
Past performance is not a reliable indicator of future results. Returns over more than one year are annualised. Source: Mansard Asset Management, fund administrator.
Calendar years
The good years and the bad ones.
We show every calendar year of the last ten, including the ones we would rather forget.
Portfolio
What the fund owns today.
Top 10 holdings
| Holding | Country | Weight |
|---|---|---|
| Thermador Groupe | FR | 3.6 |
| Virbac | FR | 3.4 |
| Interparfums | FR | 3.3 |
| Robertet | FR | 3.1 |
| Lectra | FR | 3 |
| Wavestone | FR | 2.9 |
| Bénéteau | FR | 2.7 |
| Manitou | FR | 2.6 |
| Synergie | FR | 2.5 |
| Trigano | FR | 2.4 |
By sector
By country
Share classes
Ask your platform for the ISIN.
| Class | ISIN | Currency | Ongoing charges | Minimum | Income |
|---|---|---|---|---|---|
| I EUR Acc | FR00MANSRD11 | EUR | 1.05% | €1m | Acc |
| R EUR Acc | FR00MANSRD12 | EUR | 1.95% | €100 | Acc |
Manager’s commentary
This month, in plain words.
Yanis Benali · Thomas Vidal
Small French companies had their best quarter since 2021. The fund gained 2.4% in September and 12.6% since January, ahead of its index.
Yanis visited eleven companies this quarter, from a boatbuilder in the Vendée to a fragrance supplier in Grasse. We added to two holdings after those visits and trimmed one where the new chief executive’s plan did not convince us.
Valuations remain undemanding: the portfolio trades on 13 times next year’s earnings, with net cash on two thirds of the balance sheets.
Who checks it
Two people sign every NAV.
Documents
Documents
How to invest
Through your adviser, your bank or your platform, with the ISIN of the share class.
Institutional investors can subscribe directly. Olivia, on the ground floor, will send you the subscription documents and answer your due diligence questions.
The other funds of the house
Mansard Asset Management is authorised by the AMF (GP-11000000, demo). This page is not an offer or a recommendation. Read the KID and prospectus before investing; the value of an investment can fall as well as rise and you may get back less than you invested. Past performance is not a reliable indicator of future results.