Comgest is an independent, international asset management group which, since its creation in 1985, has pursued a long-term ‘Quality Growth’ and responsible investment style.
Comgest serves investors who share its long-term investment horizon around the world
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Denis Callioni joined Comgest in 2015 and is an Analyst and Portfolio Manager specialising in European equities.
Denis co-manages the Europe Smaller Companies and Europe Opportunities strategies, contributes to idea generation and researches European companies across a broad range of sectors. She started her career in 2010 as an Equity Analyst at Kempen & Co Merchant Bank in Amsterdam.
Denis holds a Master’s degree in Corporate Finance and Banking from the Duisenberg School of Finance and a Master’s degree in Business and Economics from the University of Amsterdam, both in the Netherlands. She is a CFA® charterholder.
Laure Négiar joined Comgest in 2010 and is an Analyst and Portfolio Manager specialising in Global equities.
Laure co-leads Comgest's Global and EAFE (Global ex-US) strategies, as well as the team’s segregated accounts. Before joining Comgest, she worked at BNP Paribas Equities & Derivatives in Paris and London. Prior to that, she worked in several roles within the US government.
Laure holds a Bachelor’s degree in Public Policy from Stanford University (with Honours and Phi Beta Kappa) and an MSc in Management (Dean's List) from HEC business school in France. She is also a CFA® charterholder.
Louis Citroën joined Comgest in 2019 and is an Analyst and Portfolio Manager specialising in US equities.
Louis co-leads the management of the US Equity strategy and contributes strongly to idea generation, researching US companies across a broad range of sectors. Prior to joining Comgest, he was an Equity Analyst covering telecoms and media stocks at Arete Research in London for five years. Louis previously worked from 2011 as a Small Cap Equity Analyst at Financière de l’Echiquier and began his career in 2009 as a management consultant at Oliver Wyman in Paris.
He holds a Master’s degree in Management from ESCP Business School (France, UK, Germany) and is a CFA® charterholder.
Richard Kaye joined Comgest in 2009 and is an Analyst and Portfolio Manager specialising in Japanese equities. He is also a member of the Comgest Group's Investment Committee.
With a wealth of on-the-ground experience in Japan, Richard became co-lead of Comgest’s Japan equity strategy upon joining the Group. He started his career in 1994 as an Analyst with the Industrial Bank of Japan and then joined Merrill Lynch in the same role in 1996. In 2005 he moved to the Wellington Management Company in Boston as a Portfolio Manager of Japanese TMT stocks.
Richard graduated from Oxford University (UK) where he majored in Oriental Studies.
OUR PARTNERSHIP APPROACH DRIVES OUR INVESTMENT STYLE: DURABLE, UNCONSTRAINED & RESPONSIBLE
Investment STRATEGY
We are selective and disciplined, focused on sustainable, long-term growth.
Our ValueS
Comgest's foundations are built on our enduring partnership culture. We believe having skin in the game aligns our interests, responsibilities, risks and rewards with those of our clients.
ESG
Environmental, social and governance criteria are integrated into our bottom-up analysis and our investment process.
OUR THINKING
RESEARCH & ANALYSIS ARE the cornerstone of OUR INVESTMENT PROCESS
Artificial Intelligence: with great power comes great responsibility
Digitalisation, cloud computing, and AI are driving global data centre expansion. Big tech companies need more computing power for their AI services, increasing data centre infrastructure and environmental impact. In this investment letter, Comgest ESG Analyst Liudmila Strakondonskaya emphasises the need for effective governance and decision-making to balance AI growth with ESG considerations.
Equities: Why Valuation Alone Won’t Drive Long-Term Success
Is a stock at 12x earnings really a bargain? Not necessarily. In this thought-provoking piece, Comgest CIO and Portfolio Manager Franz Weis challenges the conventional wisdom around valuation metrics. He explains why long-term success comes from quality growth and earnings visibility — not chasing cheap-looking stocks. Discover how avoiding the “value trap” is central to Comgest’s Quality Growth investment philosophy.
GLOBAL EQUITIES: AI’s gold rush: Unearthing the nuggets of Quality Growth
Over the past two years, the AI "Gold Rush" has led to the MSCI World Index becoming concentrated in just a handful of AI-related stocks. In this investment letter, Comgest’s Global Equity team explains why we typically focus on AI infrastructure companies with high barriers to entry and strong pricing power, while avoiding early-stage AI models and software due to intense competition and potential commoditisation.
For the past 40 years, we have relentlessly focused on a single objective of delivering growth portfolios to our investors
Our comgest
Our Team
We think, act and invest globally
An independent group with a single focus on equities.
OUR FUNDS
QUALITY GROWTH, UNCONSTRAINED
We remain focused on a concentrated number of quality growth companies.
