Zadig Asset Management

Zadig Asset Management

Zadig Asset Management was founded in Luxembourg in 2005 by Laurent Saglio and Pierre-André Schmitt. The firm grew out of a conviction that European equities, particularly mid-caps, were under-researched and mispriced, creating an opportunity for a concentrated, research-intensive manager. It is not a family office but an independent partnership structured to treat its fund like an owner-operator would treat a private holding. Zadig deploys capital through a concentrated, benchmark-agnostic lens across three long-only European equity strategies. The flagship Memor European Fund holds roughly 25 names, spanning large-caps and mid-caps, with sector emphasis historically shifting between technology, financials, and healthcare. The firm does not hedge currency exposure and does not operate in private markets; it is a purist in liquid, publicly listed equities. Identifiable positions have included French software company Dassault Systèmes, payments processor Worldline, and Deutsche Börse. The geographic footprint is pan-European, with heavy weightings toward France and Germany. Team size and current AUM are not publicly updated with regularity, though the firm is known to operate with a lean investment team based in Luxembourg. The partnership structure aligns Saglio and Schmitt directly with the fund's performance. There is no record of adjacent philanthropic vehicles, real-asset arms, or external club memberships — the firm's architecture is deliberately simple. In 2023, the Memor fund posted positive performance driven by selection in industrials and technology, a rebound from a difficult 2022 when growth holdings were repriced (per Citywire, January 2024). Zadig's structural differentiator is its imperviousness to benchmark pressure. Where most European asset managers are evaluated against the MSCI Europe or Stoxx 600, Saglio's team is free to ignore sector weights and market capitalizations entirely — a posture that leads to dramatically different portfolio construction and a long average holding period. This is not an institutional manager layered with committees; it is a boutique where the CIO's name is on the door and stock selection is the sole engine of returns.