
The management company

Indépendance et Expansion is managed by 3 portfolio managers who share the passion of 'value' investing.
- William HIGGONS, President
manages the fund Indépendance et Expansion since 1992 - Audrey BACROT, Portfolio manager and analyst
- Victor HIGGONS, Portfolio manager and analyst
Team members

William Higgons manages the fund Indépendance et Expansion since 1992 without interruption,which allows him to display one of the industry’s longest track-record.
He is regulary interviewed in the financial press to comment on the evolution of the markets and to describe his unique "value" investment philosophy. He also frequently writes academic articles published in financial magazines, including:
- "Job, Value Investor"
- "L'investisseur Value : Go for Value"
William Higgons is a member of the SFAF (Société Française des Analystes Financiers) and was also SFAF administrator from 1997 to 2000, and from 2002 to 2006. He was also a member of the Advisory Commission "Organisation et Fonctionnement du Marché" of AMF from 2007 to2016.
William Higgons is a graduate of INSEAD MBA and of Sciences Po Paris.

Audrey Bacrot joined Stanwahr in 2011 as a Portfolio manager and analyt, co-managing the fund Indépendance & Expansion France Small together with William Higgons for more than 5 years.
She started her career in sell-side financial analysis at Natixis Securities in 2007 and then at SG Securities a year later. After a merger / acquisition experience at CIC in 2009, she moved into portfolio management at CM-CIC in 2010.
After an experience at Amiral Gestion she joined again Stanwahr portfolio management team in 2018.
Audrey Bacrot is a graduate of the Business School Léonard de Vinci. She holds a Master’s degree in International Fiancial Analysis from Neoma Business School. She also graduated from the CIIA (Certified International Investment Analyst).

Victor Higgons joined Stanwahr portfolio management team in 2017 after working as a consultant at McKinsey & Company.
Within the portfolio management team, Victor Higgons covers in particular the following sectors: Technology, IT, and Transportation
Before joining Stanwahr, he previously worked as a consultant at McKinsey & Company, where he focused on company’s corporate strategy and operational efficiency projects in various industries. Being part of these projects led him to work in several European countries, including France, Germany, England, the Netherlands, and Portugal.
His first professional experience was at Rothschild & Cie in the Large Cap M&A team.
Victor Higgons is a graduate of INSEAD MBA and holds a Master’s degree in Finance & Strategy from Sciences Po Paris.

Juan is Business Development Director and Head of Investor Relations
He started his career in the financial industry in 1999 as a broker for BNP Paribas in Paris and later moved to the International Business Development division and participate to the commercial development of Banque Cortal in Spain as Business Development Director until the absorption of Consors converting Banque Cortal as the leader in Europe in the online brokerage industry.
In 2004, Juan joined Abanca as a country manager for France and then as Business Development Director for its U.S branch located in Miami Fl coordinating all Latam Branches and opening its first Investment division.
Juan moved back to Spain in 2016 to open the Spanish branch of Myfunds Office, a leading French Third-Party Marketer for fund distribution covering the Iberian market.
Juan Diaz is BA from L´ École de la chambre de Commerce et d´ Industrie de Paris and MIB from ISDI in Madrid

Alain Picherit isIndépendance et Expansion AM Director and Conducting Officer.

Laurent Raynel is Indépendance et Expansion AM Risk and Compliance Officer.
