Turn volatility into opportunity with our alternative funds
Discover investment solutions designed to benefit from volatility rather than suffer from it, through an opportunistic approach, flexible asset allocation, a quality bias and strategic hedging positions.
Presented by David Montoya - CFA, Client Portfolio Manager Groupe La Francaise
Hello everyone,
Today, I am pleased to present the asset management company Cigogne Management and its flagship funds, Stork Fund Dynamic Multi-Strategies and Cigogne UCITS - Credit Opportunities in five takeaways:
- Cigogne Management is an alternative management company founded in 2004 that has demonstrated its investment models through different market conditions over the past 20 years. The company benefits from a dynamic organization composed of about twenty professionals, with half of them exclusively dedicated to portfolio management and with a recognized expertise in arbitrage strategies.
- The investment model leverages the historical expertise of the proprietary trading teams at CIC CIB, a subsidiary of Crédit Mutuel Alliance Fédérale Group specialized in proprietary trading and investment activities. CIC CIB acts as an investment advisor for Cigogne Management. The dual expertise in trading and asset allocation shared between CIC CIB and Cigogne Management allows us to offer our investors shared convictions and the opportunity to co-invest alongside a major bank.
- Our investment solutions are particularly well-suited to the current market environment, as they are designed to benefit from volatility rather than suffer from it through an opportunistic approach, flexible allocation, quality bias, and strategic hedging positions.
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Our Cigogne UCITS - Credit Opportunities fund is a diversified fund whose objective is to generate a steady return (~€ster +2% to 3%) by adopting a multi-strategy approach focused on the credit theme.
The fund has a dynamic, active, and flexible management approach on four complementary specialties: relative value strategies, convertible bond arbitrage strategies, credit strategies, and global macro strategies, with a diversification and risk management goal. The fund is also classified as an Article 8 fund under SFDR regulations. - Our Stork Fund Dynamic Multi-Strategies is an alternative fund of funds focused on alternative strategies, all of which are developed and managed in-house. The fund employs an active and opportunistic management approach, allowing us to effectively adjust the asset allocation according to changing market conditions. Its consistent performance and low correlation with traditional asset classes since its launch in 2007 make it a valuable addition to an efficient portfolio management strategy.
Thank you for listening! Contact us for more information.
Presented by David Montoya - CFA, Client Portfolio Manager Groupe La Francaise
Hello everyone,
Today I am pleased to present our fund Cigogne UCITS - Credit Opportunities in 5 takeaways.
- Cigogne UCITS - Credit Opportunities is a diversified fund that aims to achieve a regular return (€ster +2% to 3%) through a multi-strategy approach focused on the credit theme.
- The fund relies on the double expertise of Cigogne Management and CIC Corporate & Institutional Banking, its investment advisor, thereby offering shared convictions and the opportunity to co-invest alongside a major bank
- Our strategy is based on a dynamic allocation to benefit from market opportunities. It has active and flexible investment management across various types of fixed income instruments and financial instruments issued by global public and private issuers.
- Indeed Cigogne UCITS – Credit Opportunities is structured around four complementary expertise: relative value strategies, convertible bond arbitrage strategies, credit strategies and global macro strategies, with the aim to diversify allocation and manage risks efficiently.
- Finally, the fund’s strategy is based on quality management, that has demonstrated resilience to market stress, and that has the ability to rebound quickly after shocks, periods conducive to building future performance. Moreover, the fund is also classified as Article 8 under the SFDR regulation.
Thank you for your attention! Contact us for more information.
Discover CIGOGNE UCITS Credit Opportunities
in 2 minutes
Focused on the credit theme, the fund aims to deliver performance across all market conditions, through a dynamic multi-strategy arbitrage approach.
The goal is to generate a steady return, in the order of
ESTER + 2 to 3% per year, while maintaining volatility under control
(< 3% on an annualised basis).
CIGOGNE UCITS
Credit Opportunities
a solution built on four areas of expertise
Including two main strategies
- 40% Convertible Bonds: Convertible bond arbitrage is a strategy that aims to profit from anomalies identified in the components of a convertible bond (interest rate, credit, and conversion option).
- 40% Corporate Credit Arbitrage: is a strategy that aims to profit from the yield differential between a bond and its corresponding issuer-related hedge (basic arbitrage).
- 10% Sovereign Bonds: an arbitrage strategy designed to capture valuation discrepancies between sovereign issuers and yield curves.
- 10% Peripheral Strategies: securitization, global macro and money market instruments.
“Our strategies are driven by quality management and aim to maintain a lower correlation with general market trends.”
Discover the performance of the fund
Since inception (as of 30/06/2023)
Share class C1, ISIN : LU2587561429
| January | February | March | April | May | June | July | August | Sept. | Oct. | Nov. | Dec. | YTD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0,46 % | 0,23 % | −0,67 % | 0,87 % | 0,76 % | 0,18 % | 0,20 % | 2,04 % | |||||
| 2025 | 1,02 % | 0,66 % | −0,01 % | −0,03 % | 0,95 % | 0,56 % | 0,21 % | 0,15 % | 0,44 % | 0,32 % | 0,09 % | 0,24 % | 4,71 % |
| 2024 | 0,57 % | 0,89 % | 0,71 % | 0,40 % | 0,77 % | 0,06 % | 0,49 % | 0,43 % | 0,72 % | −0,25 % | 0,65 % | 0,27 % | 5,86 % |
| 2023 | 0,78 % | 0,54 % | −0,47 % | −0,17 % | 2,16 % | 1,86 % | 4,76 % |
Main risks: market risks, interest rate risks, currency fluctuation risks, credit or default risks, liquidity risks, counterparty risks, emerging market investment risks, risks associated with techniques such as derivatives, risks associated with leverage, investment fund risks, operational and management risks, risks associated with funds of funds and volatility risks.
Past performance is not indicative of future results. Performance is not guaranteed and may fluctuate upwards or downwards.
Source: Cigogne Management, data as at 31/07/2026.
Shared conviction, combined expertise
Cigogne Management’s portfolio of funds is the result of close collaboration with CIC Corporate & Institutional Banking, its investment advisor.
CIC CIB is a subsidiary specialized in market operations and proprietary investment activities within the Crédit Mutuel Alliance Fédérale Group.
This partnership combines Cigogne Management’s alternative investment expertise with the scale and analytical capabilities of a leading investment and financing bank, delivering rigorous and distinctive asset management.
- 10 Fund Manager
- + 20 Employees
- 2 AIF (7 sub-funds)
- 1 Fonds UCITS (2 sub-funds)
- 5 Strategic Hubs
- + 30years of experience
- + 60 Traders
Alternative management with Cigogne Management
Alternative investment strategies provide access to performance sources that are uncorrelated with traditional markets and difficult to capture through conventional investment management. They enhance the diversification and resilience of an asset allocation and represent a useful tool for building portfolios capable of adapting to different market conditions.
Cigogne Management’s approach capitalises on volatility by exploiting the discrepancies and inefficiencies it generates. A rigorous selection of strategies, combined with a high level of operational agility, fosters value creation during turbulent periods, when opportunities tend to be most numerous.