Based in Paris, Metori Capital Management is a pure-play quantitative asset manager. The company was founded in 2016 by a group of seasoned professionals from Lyxor Asset Management (Société Générale). Metori is an independent business, 100% privately owned by its founding partners, whose interests are strongly aligned with those of our investors. The company brings together a team of experts in capital markets, portfolio management and IT infrastructure with a single objective: to generate investment performance with a scientific approach.

Our history

Metori represents the continuation of many years of research and development in quantitative investing. In 2017 the company took over the investment management of the Epsilon managed futures program, which 4 of the 5 founding partners ran previously at Lyxor. Epsilon was launched in 1994.

Our clients

Metori has a strong footprint in Europe, mainly servicing financial institutions, asset managers, family offices and private banks. The company also manages a Chinese futures investment strategy, which was launched in 2014, for professional investors in Mainland China.

Our vision

We believe that the scientific approach allows to uncover market complexities in order to generate performance. Guided by academic findings and empirical analysis, we design and implement quantitative investment strategies to help investors benefit from global market opportunities.


  • Nicolas GAUSSEL

    CEO and co-CIO

Nicolas has 20 years of experience in finance, including 15 years in asset management. He has been Lyxor’s CIO since 2012, overseeing 100+ portfolio managers, researchers and financial engineers. Prior to this, Nicolas held various management positions, notably in Asia. Nicolas holds an engineering degree from French Ecole Centrale de Paris, and a PhD in Economics from Paris La Sorbonne. He has been a quantitative finance lecturer in different master programs and contributed to various articles and academic conferences.

  • Guillaume JAMET

    Principal Manager and co-CIO

Guillaume has been Epsilon’s Principal Manager since 2013. He joined SG Group in 2003 and occupied various key positions in the quant domain. He gave frequent lectures on quantitative finance at the Paris ENSAE. Prior to this, Guillaume worked 5 years teaching mathematics at University Paris VI and published his research in top tier international journals. He obtained his PhD in Mathematics and Master in Applied Probability and Finance from University of Paris VI, and holds the title of “Agrégé de Mathématiques”.

  • Laurent LE SAINT

    Managing Partner & Head of Development

Laurent has 20 years of experience in capital markets and asset management. He has been with Lyxor since 2012, as head of product development for systematic, flexible and debt funds. He was previously at Société Générale Hong Kong since 2009. He started his career in 1996 as a financial engineer at SG’s Equity Derivatives division, where he developed a large fund-derivatives and financing business. Laurent graduated from the Institut d’Études Politiques de Paris in 1994, with a Master in Corporate Finance and Capital Markets.

  • Philippe CARPENTIER

    Senior Fund Manager

Philippe has been a quantitative fund manager at Lyxor since 2013, specialized in smart beta and quantitative fixed income. Prior to this, Philippe has been a quantitative researcher for the derivatives division of Société Générale from 2004 to 2013, applying his expertise to various asset classes. He started his career in 2003 at HSBC as a quant analyst in the model validation team. Philippe holds engineering degrees from Ecole Polytechnique and ENSAE, and a Master degree in applied mathematics from the University Paris VI (Jussieu).

  • Guillaume DERMER

    CRO & COO

Guillaume has ten years of experience in the financial services industry. Prior to joining Metori, he worked within Oliver Wyman’s Finance and Risk practice where he conducted strategic assignments for financial institutions, exchanges and regulators in Europe, the U.S. and Asia. He started his career at BNP Paribas trading equity derivatives, before joining BearingPoint’s Capital Market practice. Guillaume holds an engineering degree from Supélec and a Master’s degree in Financial Mathematics from Wollongong University (Australia).

  • Long-established team

Guillaume Jamet and Nicolas have worked together since 2001. In 2011, Nicolas asked Guillaume to take over Epsilon’s research and appointed him as Fund Principal in 2013. Laurent and Nicolas met in Asia back in 2010, and Laurent joined Lyxor in 2012 to steer the development of quant strategies. Since 2012, Guillaume, Laurent and Nicolas have worked closely together. Philippe met Nicolas and Guillaume Jamet during his tenure at the SG Capital Market quant research team. He eventually joined Lyxor where he contributed to the extraordinary growth of its quantitative fixed income program. In 2016 the team set out to find a suitable fifth partner to take responsibility for risk and operations. They chose Guillaume Dermer and he has since made a key contribution to the launch of Metori.



March 2020
Hedge Fund Journal
Metori won the Hedge Fund Journal UCITS Hedge Award “Best Performing Fund over 5 and 7 Year Periods” in the Trend-Following CTA category.


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September 2019
CTA Intelligence
Metori enters US market


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September 2019
Metori’s Epsilon Global Trend Program launches on Kettera’s Hydra platform


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March 2019
Lyxor Epsilon Global Trend Fund is named “Best Performing Fund over 4 Years” in the category Trend-Following CTA >$100 million at the HF Journal UCITS Hedge Awards 2019.


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February 2019
Hedgeweek Global Awards 2019
Metori wins the award of “Best systematic CTAs” at the Hedgeweek Global awards 2019.


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Magnifying glass and newspapers with exchange rate tables and diagrams.

January 2019
The updated case for CTA Investing
Despite negative performances in 2018, CTAs remain an attractive investment for long-term investors


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September 2018
CTA Intelligence
Metori wins two awards at the CTA Intelligence European Awards 2018.
“Best managed futures UCITS Fund” & “Best trend-follower <$500m”


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July 2018
Metori in the News

L’AGEFI: “The AMF gives the green light to a first French Benchmark administrator” by Amélie Laurin (27 July, 2018)

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Les Echos: “The AMF authorizes a first French Benchmark Administrator” by Laurence Boisseau (30, July 2018)

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May 2018
CTA Intelligence
“The making of Metori – The Lyxor spin-out embarks on its second year as an independent business, setting its sights on the Billion Dollar Club” by Matt Smith (22 May, 2018)


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Lyxor Epsilon Global Trend Fund logo small

April 2018
Metori wins the awards for “Best Managed Futures long-term performance (5 years) under $1bn”


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March 2018
“Metori Capital: New Name, Same Outperformance” by Greg Winterton, AlphaWeek (12/3/2018)


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March 2018
Metori wins the awards for “Best performing CTA > $100m over 4 years” at the UCITS Hedge Awards 2018


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December 2017
Microsoft features Metori Capital Management in its Customer Stories. “Cloud born: financial startup uses Azure to compete, innovate, and scale.”


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November 2017
Metori featured as one of the 12 to follow in 2018 in the latest issue of CTA Intelligence “Rounding up the hottest new prospects in managed futures”


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Multiple asset classes and geographies

Our investment approach is global and scalable. We trade liquid instruments in all major asset classes and regions. We invest in regulated markets where we believe prices reflect the information available to millions of market participants.

Focus on market dynamics

We look at price dynamics to take positions rather than relying on any hypothetical “fundamental valuation” of markets. Using statistics and mathematics we identify the direction in which market forces drive asset prices and measure underlying uncertainties.

Scientific approach

Metori combines the best ideas from academic research with empirical data analysis. We implement strategies that have sound statistical and economical foundations, which can be cross-validated over multiple time horizons and asset classes.

Systematic implementation

Metori’s investment process is systematic, meaning that positions and portfolio construction are generated by a model and implemented systematically. Our approach allows to remove arbitrary and emotional bias from investment decisions.


Our investment program, Epsilon, is the latest evolution of a strategy that started in 1994. The current version of the model was developed by G. Jamet and N. Gaussel from 2011 to 2012, and has been successfully implemented since late 2012. The program is available in a suite of Lyxor products. It can also be delivered by Metori through managed accounts, dedicated funds or club funds.


    Systematic trend-following on financial futures: UCITS launched in 2011 and US Fund launched in Sep. 2019


      Systematic trend-following on financial and commodity futures: AIF launched in 1997


        Systematic trend-following on Chinese futures. First mandate launched in 2014

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        This website is an introduction to Metori. It does not intend to provide investment advice nor does it represent that the strategies described are suitable for any specific investor. Any information contained in this website is subject to modification at any time. While such information is believed to be reliable at the time it is entered, Metori does not guarantee its accuracy and completeness, nor does it undertake to update such information at any specific frequency. Neither Metori nor any of its directors, officers or employees, will be liable or responsible for any loss or damage resulting, directly or indirectly, from your access to, inability to access, or use of this website or its content.

        Trading futures, options on futures, investing in managed futures and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Metori Capital Management shall not be construed as a solicitation. Metori Capital Management does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. Past performance is not necessarily indicative of future results. Any mention of performance in any context whether actual or hypothetical is no guarantee of future results. Your Privacy is important to us. A copy of Metori’s most recent privacy policy can be obtained by contacting our office.

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