Who are we ?

HMG Finance is an independent French Asset Management Company, founded in 1991 by Laurent Hauvette, Richard Michelin and Marc Girault.

Our client base includes private individuals, institutional investors, private bankers and independent wealth management advisors.
HMG Finance specialises in small and mid-cap stocks, concentrating on undervalued as well as high-yielding investments. This careful approach has enabled us to ensure a regular increase in the value of our funds under management regardless of prevailing market conditions.



• Shareholder structure stable and independent.

• Sustainability of the process, seeking valuation or price anomalies for both discretionary and collective management.

• We are "Value" and "Contrarian” investors in undervalued shares of small and mid cap companies and also in high-yielding shares. Financial markets often throw up anomalies that are opportunities for investors who are willing to go against the market trend.

•  Using a bottom-up approach, HMG Finance selects companies not on macroeconomic or sectoral grounds, but for their intrinsic qualities, and also when their market price reflects an important discount to their real value. 
These companies are generally overlooked by large investors


  • Jean-François Delcaire - Article "Le Revenu" - no.1521 du 1er au 7 mars 2019

    "Les convictions des meilleurs gérants pour 2019. L'avis de Jean-François Delcaire, gérant de HMG Dé [...]

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  • HMG Rendement en 1 MINUTE !

    L'OPCVM HMG Rendement est géré depuis 1995 par Marc Girault. Ce fonds mixte et opportuniste garde une approche de tr&egr [...]

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  • Interview Jean-François Delcaire dans LE REVENU

    Avec la loi Pact la question de l'augmentation des opérations financières se pose (Printemps 2019). Interview Jean-Fra [...]

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