EdenTree fund manager Hiorns has bought up French stocks despite civil unrest

Oct 20 (Reuters) - Chris Hiorns, who manages around £1 billion ($1.3 billion) for investment company EdenTree, has recently bought up several French stocks for the EdenTree Sustainable European Equity Fund despite the recent civil unrest in France.

• In a note published on Tuesday, Hiorns said he had added more shares in property company Gecina to the fund.

• Hiorns has also increased the fund's position in property company Covivio, utility company Veolia and supermarket retailer Carrefour

• The EdenTree Sustainable European Equity Fund, which manages around £365 million, also holds stakes in healthcare company Sanofi and tyre maker Michelin

• "Despite the somewhat bleak political and macroeconomic outlook, we still believe there are attractive opportunities to be found on the French stock market, with companies often far more resilient to economic, financial and political turmoil than their valuations would suggest," said Hiorns

• Hiorns said many such French stocks could be trading with a "French political discount in place", given the backdrop of the violent demonstrations and uncertainty ahead of next year's presidential elections

• Opinion polls put far-right leader Marine Le Pen as the likely winner

• "The possibility of a far-right candidate coming to power at France's next presidential election adds another layer of uncertainty for investors. However, political outcomes are notoriously difficult to price, which is why we continue to focus on company fundamentals rather than making broad macroeconomic bets," added Hiorns

($1 = 0.7479 pounds)

(Reporting by Sudip Kar-Gupta. Editing by Mark Potter)