SIX is proud to announce today’s disclosure of the 2025 edition’s results of the best equities asset management companies, based on alpha, a risk-adjusted performance measure, an indicator of the manager's over-performance against the market.
SIX launched the “EuroPerformance Alpha League Table” ranking 20 years ago. As a renowned provider of high quality financial data, SIX already identified the potential of such an analysis in the market at that time and developed this ranking based on a cutting-edge methodology. It has since become a benchmark on the French market. At a time when passive forms of investment are enjoying an increased popularity, it is crucial to demonstrate the value of active management with comprehensive and detailed data.
The calculation of the alpha value requires a precise determination of risk positions. The benchmark, which is an approximation of the actual risks taken by the fund manager, is determined by analyzing the fund's returns using a multi-index regression on investment styles - using Nobel Prize winner William Sharpe's “Return Based Style Analysis” method.
This 2025 edition, based on calculations for the full year 2024, is quite exceptional. We have never observed so few ranked companies and such low levels of average frequency and alpha. In fact, numerous economic, political, and geopolitical moves have been challenging the active management industry, which has been impacted by the various upheavals observed in the markets throughout the year. The companies ranked this year have overcome these challenges and managed to generate enough winning funds, with positive average alpha. Among the 18 institutions getting a mark, here stands our Top 10:
| Rank | MANAGEMENT ENTITY | Frequency | Average Alpha | Mark |
| 1 | COMGEST SA | 40.97% | 2.98% | 1.24% |
| 2 | AMPLEGEST | 24.95% | 3.62% | 0.90% |
| 3 | SMA GESTION | 40.48% | 1.01% | 0.49% |
| 4 | DNCA FINANCE | 27.55% | 1.55% | 0.43% |
| 5 | CA INDOSUEZ GESTION | 33.33% | 1.23% | 0.41% |
| 6 | LAZARD FRERES GESTION SAS | 28.82% | 1.11% | 0.37% |
| 7 | HSBC GLOBAL AM | 36.03% | 1.00% | 0.35% |
| 8 | BNP PARIBAS ASSET MANAGEMENT | 12.32% | 2.08% | 0.25% |
| 9 | OSTRUM ASSET MANAGEMENT | 14.29% | 1.68% | 0.24% |
| 10 | CHOLET DUPONT ASSET MANAGEMENT | 18.96% | 1.25% | 0.23% |
Further information: the extended analysis and methodology of the Alpha League Table 2025.
This year, we observed a profound renewal of the rankings with historical players who left, and a new trend with companies standing out thanks to a varied and extensive range.
Philippe Hellinger, Head FR Funds Products & Press, Financial Information, SIX
