(Boursier.com) — Last month, the Talence Sélection PME fund recorded
an increase of +0.9%.
The main positive contribution of the fund concerns the digital services company Micropole, which is the subject of an offer at 1.5 Euro per share from the Miramar group.
Given the hostile nature of this offer and the still modest valuation reflected at this price, a counter-offer at a higher price is not excluded, manager Régis Lefort has decided to maintain the position in Micropole at this stage.
Concerning the movements of the month, the fund partially took profits on Guerbet, the stock having increased significantly since the purchase the previous month. The fund also reduced some positions, such as Vallourec, Rubis and Vranken Pommery. He also closed the position on Visiativ, a stock under takeover bid.
On the purchasing side, we report a strengthening on Manitou, after 2023 results above expectations combined with good visibility for 2024, as well as on Antin Infrastructure, to benefit from the fall in the stock.
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