Small & Mid Cap Management
by Tocqueville Finance

Finance regional economies with the benefits of conviction-based management in selecting intermediate-size responsible companies with a promising earnings-growth outlook. 

Key figures

€ 1.2


in assets under management
(as of end-2022)


manager-analysts with complementary profiles 

Michel Saugné

Michel Saugné

Deputy CEO of Tocqueville Finance

Investing in small & mid-sized companies means tapping into a dynamic universe that offers a wealth of opportunities in France and the rest of the euro zone. We detect them through our long-standing small & midcap presence and our close-up relationships with company managers.

Key features
of our offering


Investing through direct contacts with the entrepreneurial world to encourage the financing of regional economies and contributing to the development of French and European smaller companies.


A long-standing presence in small & mid caps that helps us identify and research a sector rich in opportunities.


Monitoring a deep and diversified universe featuring innovative and highly adaptive niche businesses. 


Companies that are often management- or family-owned and that therefore take a real-world, sustainable and long-term view of their business.

Benefits and
whats sets us apart

Broad coverage of the universe, from the smallest companies (microcaps to small caps: market capitalisations < €7bn) to more developed companies midcaps (with market capitalisations between €7bn and €12bn). 

Active, discretionary and fundamentals-based equity management, reflecting the managers’ convictions with special attention to liquidity. 

Systematic combination of financial and extra-financial research.

Thorough and collaborative research to identify tomorrow’s champions having managers endowed with strategic, long-term visions that are less vulnerable to political and economic shifts. 

Fund selection