Groupama Sees ‘Zero’ Chance of Le Pen Win, Buys French Stocks
- Investors over-estimating Le Pen’s prospects: Groupama AM CEO
- Asset manager targeting domestic-focused French companies
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International investors are overestimating Marine Le Pen’s chances of winning the French presidential election even though she is leading polls, according to Philippe Setbon, chief executive officer of Groupama Asset Management.
The investment arm of Groupama, the world’s second-largest mutual insurer, is buying French stocks, betting the populist National Front leader will lose and the market will surge, Setbon said in an interview.