Clartan Associés

What Clartan Associés does

Clartan Associés is an independent French asset management firm headquartered at 11 avenue Myron Herrick in Paris, operating as a Société par Actions Simplifiée (SAS) with €2,244,542 of capital and approved by the AMF as a portfolio management company under number GP 90095 since 27 July 1990. The firm was founded in 1986 (originally as Rouvier Associés, rebranded in February 2020) and manages more than €1 billion in assets across six Luxembourg-domiciled sub-funds within the Clartan SICAV umbrella: Clartan Valeurs, Clartan Patrimoine, Clartan Flexible (formerly Clartan Evolution), Clartan Europe, Clartan Ethos ESG Europe Small & Mid Cap, and Clartan Multimanagers Balanced. Its product set spans concentrated European equities, balanced and flexible multi-asset strategies, an ESG small- and mid-cap strategy with French ISR, FNG Siegel, and SFDR Article 8 designations, and a multi-manager balanced solution.

The firm applies a fundamental, value-driven investment philosophy with collegial decision-making, drawing on ESG extra-financial analysis delivered through a partnership with the Ethos Foundation (covering systematic voting and engagement). Clartan also operates a tripartite Delegated Management service accessible via life insurance wrappers, Luxembourg FID, or bank accounts, and supports the Sharing Fund philanthropy mechanism (donating 35% of Ethos fund management fees to the Association de la Vallée de la Millière founded by Yann Arthus-Bertrand). Its customer base consists of Independent Financial Advisers, Distributors, Family Offices, and Mutual Institutions across continental Europe, with a Swiss branch led by Managing Director Marc Effgen and an explicit geographic restriction against US and UK clients.

Revenue is generated through recurring asset management fees on AUM (for example, 1.80% management fees and 2.24% total annual costs on the Ethos fund), with entry fees of up to 3% not retained by the firm, no exit fees, and fund-specific performance fee structures. Distribution is intermediated through professional advisers and the Luxembourg SICAV, supported by content marketing via editorial commentary, fund factsheets, and webinars. The firm is privately held with no disclosed external investors, no M&A history, and no subsidiaries, and it has supplemented its investment team with two distribution hires in 2025 (Aurore Sadoun and Noémie Labric) to expand its professional-client reach.

Name

Clartan Associés

Legal name

Clartan Associés

Website

https://clartan.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

Clartan Associés is an independent Paris-based asset management firm managing €1B+ AUM across six Luxembourg-domiciled sub-funds, serving Independent Financial Advisers, Distributors, Family Offices, and Mutual Institutions in continental Europe via a collegial, value-driven investment approach.

Ownership category

akta.pro rank

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Asset Management Fees: Management fees charged on assets under management across the firm's six funds. For Clartan Ethos ESG Europe Small & Mid Cap, management fees are 2.24% including 1.80% management fee.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Clartan Associés is an independent asset management firm offering six Luxembourg-domiciled sub-funds under the Clartan SICAV umbrella covering European equities, balanced, flexible allocation, and ESG strategies, alongside delegated portfolio management services for private clients through life insurance, Luxembourg FID, or bank account structures. The firm manages over €1 billion in assets and serves professional investors including Independent Financial Advisers, Distributors, Family Offices, and Mutual Institutions.

Product overview

Clartan Associés is an independent asset management firm operating as a SAS with €2,244,542 capital and over €1 billion in assets under management. The company offers a SICAV umbrella structure with six Luxembourg-domiciled sub-funds, each providing distinct performance and volatility profiles within Europe's secure regulatory framework. The product lineup includes: Clartan Valeurs (concentrated equity), Clartan Patrimoine (balanced fund), Clartan Flexible (flexible allocation), Clartan Europe (European equities), Clartan Ethos ESG Europe Small & Mid Cap (ESG-focused with Ethos partnership and Sharing Fund initiative), and Clartan Multimanagers Balanced. Additionally, the firm provides delegated wealth management services for private clients through life insurance, Luxembourg FID, or bank account structures. The management approach emphasizes collegiate decision-making and a free, flexible investment style designed to adapt across market cycles.

Differentiator

Problem solved

Functional benefit

Brands

• Clartan SICAV: Luxembourg-domiciled umbrella fund with six sub-funds offering distinct performance and volatility profiles within Europe's secure regulatory framework.
• Sharing Fund

Products and services

• Clartan Valeurs Concentrated equity strategy fund focused on European equities, managed with a value investing philosophy and collegiate decision-making approach, for professional investors.
• Clartan Patrimoine Balanced fund aiming to preserve and grow invested capital over a horizon of more than two years, with flexible bond and equity allocation for professional investors.
• Clartan Flexible Flexible allocation fund (formerly Clartan Evolution) that optimizes risk/return ratio by investing flexibly in different asset types: 20-70% equities, 0-80% bonds, remainder in money market products or cash.
• Clartan Europe European equity fund providing exposure to European stock markets through a concentrated portfolio approach, for professional investors.
• Clartan Ethos ESG Europe Small & Mid Cap ESG-focused fund investing in European small and mid-cap companies with proactive ESG management, holding French ISR and FNG labels, and SRI Label. Features the Sharing Fund initiative with 35% of management fees donated to biodiversity restoration.
• Clartan Multimanagers Balanced Multi-manager balanced fund offering diversified exposure through multiple underlying fund managers, for professional investors seeking balanced portfolio construction.
• Delegated Management Delegated portfolio management service leveraging 40+ years of expertise through a tripartite relationship involving partner, end client, and Clartan Associés. Accessible through life insurance, Luxembourg FID, or bank accounts with dedicated portfolio managers.

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Ethos FoundationcoreStrategic or Co-development PartnerStrategic partnership for ESG stock selection using Ethos' extra-financial criteria. Companies are identified as Leader, Strong Performer or Challenger in ESG terms. Ethos provides systematic use of voting rights at general meetings and engagement in dialogue with management bodies on ESG themes.
• Association de la Vallée de la Millière (Yann Arthus-Bertrand)coreStrategic or Co-development PartnerClartan Ethos ESG Europe Small & Mid Cap sub-fund (Sharing Fund) donates 35% of its management fees to support restoration of natural environment and biodiversity at the Vallée de la Millière site spanning 28 hectares classified as Zone of Ecological, Faunal and Floristic Interest.
• Banque de LuxembourgminorOthersCustodian for funds, providing secure custody and administration services.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Mandarine Gestion: Independent French asset management firm with ~€10B AUM offering European equity, flexible, and ESG strategies. Directly comparable product range (European equities, balanced, flexible allocation) and target market (independent wealth advisers and institutional clients in France).
• Comgest: Independent European asset management firm specializing in quality-growth equities with significant ESG integration. Similar to Clartan in offering concentrated European equity strategies with a long-term investment philosophy and global institutional distribution.
• DNCA Finance: Independent French asset management firm with ~€40B+ AUM offering European equity, balanced, and ESG strategies distributed through IFAs. Highly comparable given shared French boutique heritage, IFA-led distribution model, and broad product lineup including ESG and flexible allocation funds.
• Sycomore Asset Management: Independent French asset manager with ~€10B AUM focused on sustainable and responsible investment across European equities. Closely comparable business model combining ESGenus differentiation, SICAV/UCITS fund structures, and IFA distribution.
• Ecofi Investissements: French SRI-focused asset manager with responsibility-focused investment approach. Comparable as an independent manager with strong ESG credentials, Luxembourg-domiciled fund structures, and distribution through French IFAs and retail networks.
• Lazard Frères Gestion: French asset management subsidiary of Lazard offering European equity, balanced, and corporate credit strategies. Comparable as a French-rooted active asset manager providing discretionary management for institutional and private clients.
• Montpensier Finance: Independent French asset management firm with discretionary management and open-ended fund products. Comparable as a French independent wealth manager offering European equity and balanced strategies to private and institutional clients through intermediary networks.

Broad incumbents

• Rothschild & Co Asset Management: European asset management arm of Rothschild & Co with significant AUM across multi-asset, equity, and thematic strategies. Listed as a previous employer of Clartan's Director of Development; comparable as a competing institutional distributor of investment solutions to European clients.
• Ofi Asset Management: French asset management firm with >€100B AUM offering diversified equity, bond, and ESG strategies. Comparable in product range (European equities, balanced, ESG funds) and target market, though significantly larger and broader than Clartan.

Emerging players

• Sanso Investment Managers: Independent French asset management firm with multi-asset and ESG strategies. Comparable as a smaller French competitor with similar boutique positioning, Luxembourg-domiciled fund vehicles, and active engagement-driven investment approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/clartan-associes

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Clartan Associés