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


  • INVESTIR no. 2399: Quelques conseils de Jean-François Delcaire

    Jean-François Delcaire, à l'occasion d'une table ronde chez INVESTIR, dévoile 4 de ses valeurs préf&ea [...]

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  • Marc Girault - table ronde aux côtés des grands noms de l'Asset Management français (Convention ACTUALIS chez JP Morgan)

    Lors de la Convention Actualis 2019 chez JP Morgan, Marc Girault était à la table ronde "Global Macro & Allocation& [...]

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  • Interview de Jean-François Delcaire chez BFM Business en vue du BFM Patrimoine

    Interview de Jean-François Delcaire, gérant de HMG Découvertes chez BFM Business, par Grégoire Favet, le 20/11 [...]

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