EDITOR’S NOTE: This article was first published in Issue No. 12 – Fall 2025 of Luxus Magazine.
Franck Muller Luxury Fund is an international equity investment fund focused on the luxury sector. The management team combines in-depth expertise in portfolio management with a detailed knowledge of the luxury sector. At NS Partners, Marie-Caroline Benoiston oversees portfolio allocation and supervises the full integration of ESG criteria into the investment process. At Genthod Global Advisory, Raffi Balyozyan draws on his experience in fundamental analysis to identify the most promising stocks in the luxury sector. Interview.
LUXUS MAGAZINE: Franck Muller Luxury Fund is celebrating its 10th anniversary this year. How do you explain its longevity?
Marie-Caroline Benoiston & Raffi Balyozyan: First and foremost, it can be explained by a unique partnership between two Geneva-based companies with complementary expertise: Franck Muller, a vertically integrated luxury player, and NS Partners, a renowned asset manager. Our fund stands out from its peers thanks to its unique investment strategy based on convictions (our own definition, strict management, and vision). It is managed with rigor and a long-term perspective. On the one hand, our proximity to the luxury sector allows us to anticipate changes in sentiment and trends and adapt the portfolio accordingly. Over time, we have focused on e-commerce, generational expectations (Millennials, Gen Z), experience, wellness, second-hand goods, quiet luxury, increased consumption in emerging countries, and more. On the other hand, our proximity to the financial market allows us to react to economic cycles (increasing the defensive portion of the portfolio) and sector changes.
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Featured photo: DGC – Franck Muller Luxury Fund
