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
Video
Bassel Choughari joined Comgest in 2025 and is a Paris-based Analyst and Portfolio Manager specialising in European equities.
Prior to joining Comgest, Bassel was an Equity Portfolio Manager at Montpensier in Paris, focusing on European and international equities. He previously worked as a European Equity Analyst at SYZ Asset Management in London. He began his career on the sell-side at Berenberg and RBS in London.
Bassel graduated from the Magistère Banque Finance programme and holds a Master’s degree in Financial and Banking Techniques (DESS Techniques Financières et Bancaires) from Paris-Panthéon-Assas University (France).
Abla Bellakhdar joined Comgest in 2014 and is a Paris-based Analyst and Portfolio Manager specialising in Global Emerging Markets equities.
Prior to joining Comgest, Abla completed internships at Comgest, Morocco’s Caisse de Dépôt et de Gestion (CDG) and Euro Latina Finance in Paris, which specialises in cross-border mergers and acquisitions in Latin America.
Abla holds a Master’s degree in Corporate Finance from the NEOMA Business School (France) and a Bachelor’s degree from the Monterrey Institute of Technology (Mexico).
Zak Smerczak joined Comgest in 2016 and is a Paris-based Analyst and Portfolio Manager specialising in Global equities. He is also a member of the Comgest Group's Investment Committee.
Prior to joining Comgest, Zak worked at Polar Capital from 2015 as an Analyst / Portfolio Manager for the firm’s global multi-asset income strategy. Before that, he was an Analyst at Mirabaud Asset Management from 2011, covering Global equities. He began his career in 2006 at Deloitte in London, initially in Assurance & Advisory Services before moving to Transaction Services, where he was responsible for operational and financial due diligence.
Zak holds a Bachelor of Business Science Degree in Finance (Honours) from the University of Cape Town (South Africa). He is a CFA® charterholder and has been a member of the Institute of Chartered Accountants of Scotland since 2009.
Richard Kaye joined Comgest in 2009 and is a Paris-based Analyst and Portfolio Manager specialising in Japanese equities. He is also a member of the Comgest Group's Investment Committee.
Richard brings deep, long-standing expertise in Japan, having lived in Tokyo for over 30 years before relocating to Paris in 2025. Prior to joining Comgest, Richard worked at Wellington Management Company in Boston from 2005 as a Portfolio Manager specialising in Japanese TMT stocks. Before that, he worked in Japan as an Analyst at Merrill Lynch from 1996. He began in 1994 as an Analyst with the Industrial Bank of Japan.
Richard holds a Bachelor’s degree in Oriental Studies from Oxford University (UK).
Louis Citroën joined Comgest in 2019 and is a Paris-based Analyst and Portfolio Manager specialising in US equities. He is also a member of the Comgest Group’s Investment Committee.
Prior to joining Comgest, Louis spent five years at Arete Research in London as an Equity Analyst covering telecoms and media stocks.. From 2011, he worked as a Small Cap Equity Analyst at Financière de l’Echiquier. He began his career in 2009 as a management consultant at Oliver Wyman in Paris.
Louis holds a Master’s degree in Management from ESCP Business School (France, UK, Germany) and is a CFA® charterholder.
For the past 40 years, we have relentlessly focused on a single objective of delivering growth portfolios to our investors
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.
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.
