Rapid growth driven by Ellipsis AM, the development of Kepler Unigestion and Kepler Cheuvreux’s distribution capabilities

Kepler Cheuvreux, a leading independent European financial services group, announces that its asset management activities have reached nearly €12 billion in assets under management as of end-February 2026, just four years after its launch.

Combining these assets with the notional traded in 2025 in tailor-made structured solutions, the Group’s “investment solutions” division now represents close to €20 billion. It serves a diversified client base including institutional investors, corporates, distribution networks, and private banks.

In just a few years, Kepler Cheuvreux has built a recognised asset management platform, combining specialised expertise with international distribution capabilities.

Kepler Cheuvreux Solutions, the Group’s tailor-made structured solutions division, which traded more than €8 billion in 2025, complements this asset management offering.

Ellipsis AM: a key growth driver

Since its integration in 2022, Ellipsis AM has experienced rapid expansion, with assets under management more than tripling from €2.4 billion to €8.5 billion as of end-February 2026.

This growth is supported by three complementary and differentiated pillars: 
Convertibles & Credit, drawing on an expertise established since 2003 in the convertible bond and flexible credit markets;
Alternative & Risk Mitigation Strategies, offering hedging solutions in the form of open-end funds, dedicated funds, and mandates since 2008;              
and Solution Funds, offering the ability to structure customized funds designed for institutional investors and corporations with specific investment objectives and constraints.

This success reflects both the expertise of the teams, the strength of the strategies, and the effectiveness of commercial synergies within the Group.

Kepler Unigestion: AI-driven investment strategies leveraging Kepler Cheuvreux’s research

Established in 2025 in partnership with Unigestion, Kepler Unigestion manages approximately €3 billion in assets as of end-February 2026. It combines over 30 years of quantitative investment expertise with proprietary artificial intelligence models, supported by Kepler Cheuvreux’s research and distribution capabilities.

Two strategies are currently deployed:                  
Core AI Equity, offering systematic and quantitative equity strategies (long/short and long-only) focusing on generating alpha;
and Defensive Equity, providing defensive equity solutions designed to reduce portfolio volatility relative to markets.

A proven growth trajectory

Frédéric Méron, Group CEO of Kepler Cheuvreux, comments: “In just four years, Kepler Cheuvreux has built an asset management platform managing nearly €12 billion in assets, which now represents a key component of the Group’s investment solutions offering. This momentum reflects the strength of our positioning, based on the experience of our teams, the needs of our clients, differentiated expertise, and strong distribution capabilities.                  
Our ambition is clear: to continue this trajectory by integrating new areas of expertise and further strengthening our platform.“