Are funds labeled “stimulus” do they really help French companies?

One year after the creation, by Bercy, the label “Relance”, some 200 funds were buffered, invested nearly 60% in SMEs and French intermediate companies.

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A little over a year ago, the Minister of the Economy Bruno the Mayor launched a new label entitled “Relief”, intended to be affixed to investment funds. Its objective: to encourage households who have accumulated savings during the health crisis to place it at the service of French companies, including small and medium. Ten funds were then labeled.

Since then, the Treasury has buffered tirelessly: 205 investment fund, from just over 110 management companies, now wearing the label (numbers on November 2). A little more than half are accessible to non-professional investors, through life insurance, a securities account, an equity savings plan (PEA), a PEA-SME, a salary savings device or a plan retirement savings.

“We wanted to reach 200 or 230 funds, so that the labeled range of investments contains sufficiently varied products, particularly in terms of levels of risk and liquidity, so that all interested savers can navigate. c ‘Est thing done, “says Paul-Simon Bénac, the Savings Bureau and Financial Markets of the Treasury Branch. Sesame must continue to be allocated by the Treasury until the end of 2022, but at a less sustained pace. “Since the start of the school year, we have been registering five or six new funds per month on average,” says Bénac.

Just over 22 billion euros

Does this label fulfill his mission? Does he encourage savers to mobilize their Covid potato for the French economy? The funds labeled, at the end of September, an outstanding amount under management of 22.4 billion euros, according to the Treasury. But this one does not specify for the hour the share collected since the labeling of these products, which, for many, have been created well before the label.

What part is it invested in French companies? According to Bercy, she is 74% today. And 58% more specifically in SMEs and intermediate-size businesses (ETI, up to 4,999 employees). You should know that the Label Chart most often imposes a minimum of 30% equity investment in French companies, including 10% in TPE, SMEs or national ETIs (or 60% and 20% respectively in some cases).

In practice, if on average the funds labeled, for the moment, largely these commitments, the percentages invested in France and in the French SMEs / SMEs / ETIs strongly vary from one product to another, some from up to To devote the entire of their asset to the French companies of modest sizes, others to be much more diversified, by also intervening, and sometimes mostly, outside the hexagon and in large companies.

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/Media reports.