Hedios’ conviction-driven strategy pays off

2025 was another bumper year for Hedios.

The company launched 16 structured products – each with a tenor of 12-years – that were available across its four Gammes H ranges: H Capital (four), H Absolu (three products), H Performance (six) and H Rendement (three), with the former providing 100% capital protection at maturity.

We benefited from a good level of early redemptions on older issuances, which reflects the relevance of the strategies implemented - Julien Vautel

“In a favourable market environment, we continued to pursue our strategy of offering conviction-driven, transparent and diversified investment solutions, relying on diversified indices composed of major European companies,” Hedios CEO Julien Vautel (pictured) told SRP.

In addition, 18 of Hedios’ products expired early during the year, providing an average annualised return of 12.9%, according to SRP data. Of these, 11 autocalled at the first opportunity, while there were also longer dated products that expired prior to maturity. The latter included the Natixis-issued H Rendement 36, which redeemed seven-years into a 10-year tenor, returning 152.50% of capital (6.2% pa).

“We benefited from a good level of early redemptions on older issuances, which reflects the relevance of the strategies implemented […] we continued to strengthen the relationship with our investors by developing monitoring and transparency tools, notably through our mobile application,” Vautel said.

_{Hedios at the SRP Awards 2026 ceremony in London on 17 March (left to right): François Delaye and Julien Vautel}

Products marketed in 2025 offered access to either the Euro iStoxx 50 Equal Weight NR Decrement 5% EUR Index (12) or the Euro iStoxx 70 Equal Weight Decrement 5% (four).

“These two indices present several characteristics that we consider particularly attractive for structuring products,” said Vautel, adding that their equal-weight methodology helps reduce concentration in a few very large cap companies, something often observed in standard indices, providing more balanced exposure to all the index constituents.

“Second, these indices cover a broad universe of European companies, which promotes both sectoral and geographical diversification.

“Finally, the integration of a decrement mechanism helps optimise product structuring conditions, which can translate into attractive risk/return profiles for investors,” Vautel said.

2026 went off with a flyer for Hedios, with H Performance 41, H Performance 53 and H Performance 60 all redeeming early in the first week of January for an annualised return of 13.8%, 10.4% and 14%, respectively. Shortly after, at the start of February, H Rendement 59 followed suit, returning 110% of capital after one-year.

What are your expectations for the rest of the year?

Julien Vautel: The French structured products market remains very dynamic, supported by growing investor interest in solutions capable of offering a risk/return profile that provides an alternative to traditional investments.

For 2026, we believe that structured products will continue to play an important role in asset allocation, particularly in a context where visibility on equity markets remains limited.

For Hedios, the objective is to continue its development by offering high-performing solutions while further strengthening the support provided to our investors.

Hedios has been recognised with the award for 'Best Performance, France' at SRP Europe 2026. Click the link to view the full list of winners.

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