François-Xavier Chauchat

With more than 30 years' experience, François-Xavier offers an economist's take on the financial markets, going beyond stock-market indices to focus on practical themes and strategies. He firmly believes that a skilled portfolio manager should devote as much energy to safeguarding portfolios from unpleasant surprises as to singling out investment ideas, and draws on his skills to set out his opinions and analyses clearly and directly. François-Xavier is a graduate of Sciences Po Paris and also holds a degree in monetary economics from Sorbonne University in Paris. He began his career as a market economist at Banque Indosuez in 1989, before joining BNP in 1994 and subsequently Cheuvreux in 1997, where he became chief economist. In 2009, he joined the economic research firm GaveKal Research. Later from 2012 to 2015, he managed asset allocation for a family office (€100 million) and was involved as an entrepreneur in various business sectors. François-Xavier teaches economics and finance at Paris-Dauphine University.

As both a long-time client and partner of Dorval Asset Management, his logical next step was to join the company at the beginning of 2016. François-Xavier has always taken a pragmatic and concrete vision of what it means to be an economist, exploring how global macroeconomics, the microeconomy and the financial markets overlap.François-Xavier takes a methodical and insightful approach with the aim of helping investors benefit from global growth, while breaking free from the tyranny of indices that do not reflect this growth. His extensive experience rounds out the expertise of Sophie Chauvellier and Gustavo Horenstein as they work together to manage the international flexible 'Global' fund range.