\u00c0 ce jour, Zitouna Capital g\u00e8re neuf fonds communs de placement \u00e0 risque, dont les tailles varient entre 30 et 60 MTND pour un actif sous gestion de 363 MTND. La mission de notation souligne que le gestionnaire parvient syst\u00e9matiquement \u00e0 atteindre ses objectifs de collecte. L\u2019un des principaux atouts de la soci\u00e9t\u00e9 r\u00e9side dans le soutien apport\u00e9 par Banque Zitouna, tant sur le plan du financement des fonds g\u00e9r\u00e9s que par l\u2019accompagnement sur le volet conformit\u00e9 r\u00e8glementaire et chara\u00efque.
\nEn termes de gestion des risques, la mission de notation estime que Zitouna Capital pr\u00e9sente une exposition limit\u00e9e aux risques de contrepartie, notamment en ce qui concerne les cat\u00e9gories de risques de financement, les risques financiers et les risques de conformit\u00e9. Par ailleurs, la mission juge que les moyens d\u2019att\u00e9nuation des risques sont satisfaisants au stade actuel de d\u00e9veloppement de l\u2019activit\u00e9 de la soci\u00e9t\u00e9. N\u00e9anmoins, un renforcement des m\u00e9canismes de gestion des risques est \u00e0 ce stade souhaitable afin de consolider la r\u00e9silience de l\u2019organisation.<\/p>\n
![\"\"](\"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-Souheil-Skander-Mounir-Fakhet.jpg\")
Souheil Skander, Pr\u00e9sident Directeur G\u00e9n\u00e9ral de PBR Rating, et Mounir Fakhet, Directeur G\u00e9n\u00e9ral de Zitouna Capital<\/p><\/div>\n
Par ailleurs, au terme du premier semestre 2024, le fonds \u00ab\u00a0Zitouna Moucharaka I\u00a0\u00bb a enregistr\u00e9 deux op\u00e9rations de sortie dont une cession totale, avec un retour sur investissement de plus de 50%.
\nLa mission de notation juge que la gestion financi\u00e8re intrins\u00e8que de la soci\u00e9t\u00e9 ne g\u00e9n\u00e8re pas un risque significatif sur son degr\u00e9 d\u2019efficacit\u00e9 op\u00e9rationnelle et la continuit\u00e9 de son activit\u00e9 \u00e0 court et \u00e0 moyen terme. L\u2019\u00e9valuation de la rentabilit\u00e9 sur la p\u00e9riode analys\u00e9e a fait ressortir un taux de croissance annuel moyen du r\u00e9sultat net de 55% et une rentabilit\u00e9 financi\u00e8re moyenne de 50%.
\nDans l\u2019ensemble, PBR Rating estime que Zitouna Capital pr\u00e9sente une organisation et des projets de structuration ad\u00e9quats au regard de son actif sous gestion, \u00e0 date, avec des axes d\u2019am\u00e9lioration, notamment en mati\u00e8re de gestion des risques. Concernant les investissements, bien que les performances soient jug\u00e9es satisfaisantes, il est encore pr\u00e9matur\u00e9 d\u2019\u00e9valuer pleinement la qualit\u00e9 du portefeuille en raison de la jeunesse de certaines participations. Enfin, la mission a soulign\u00e9 l\u2019importance de l\u2019\u00e9largissement des cibles d\u2019investissement et la cr\u00e9ation d\u2019autres types de fonds afin de renforcer la flexibilit\u00e9 et maximiser la rentabilit\u00e9 de l\u2019activit\u00e9 de la soci\u00e9t\u00e9.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00c0 ce jour, Zitouna Capital g\u00e8re neuf fonds communs de placement \u00e0 risque, dont les tailles varient entre 30 et 60 MTND pour un actif sous gestion de 363 MTND.…<\/p>\n","protected":false},"author":60,"featured_media":350601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1464],"tags":[],"class_list":["post-350600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entreprises"],"yoast_head":"\n
PBR Rating octroie \u00e0 Zitouna Capital la note de [B+] avec perspective positive en mati\u00e8re de gestion d\u2019actifs - R\u00e9alit\u00e9s Magazine<\/title>\n<meta name=\"description\" content=\"\u00c0 ce jour, Zitouna Capital g\u00e8re neuf fonds communs de placement \u00e0 risque, dont les tailles varient entre 30 et 60 MTND pour un actif sous gestion de 363\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PBR Rating octroie \u00e0 Zitouna Capital la note de [B+] avec perspective positive en mati\u00e8re de gestion d\u2019actifs - R\u00e9alit\u00e9s Magazine\" \/>\n<meta property=\"og:description\" content=\"\u00c0 ce jour, Zitouna Capital g\u00e8re neuf fonds communs de placement \u00e0 risque, dont les tailles varient entre 30 et 60 MTND pour un actif sous gestion de 363\" \/>\n<meta property=\"og:url\" content=\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/\" \/>\n<meta property=\"og:site_name\" content=\"R\u00e9alit\u00e9s Magazine\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/realites.tn\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-17T11:59:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-17T12:01:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"La R\u00e9daction\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"La R\u00e9daction\" \/>\n\t<meta name=\"twitter:label2\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/\",\"url\":\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/\",\"name\":\"PBR Rating octroie \u00e0 Zitouna Capital la note de [B+] avec perspective positive en mati\u00e8re de gestion d\u2019actifs - R\u00e9alit\u00e9s Magazine\",\"isPartOf\":{\"@id\":\"https:\/\/realites.com.tn\/fr\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg\",\"datePublished\":\"2025-03-17T11:59:38+00:00\",\"dateModified\":\"2025-03-17T12:01:17+00:00\",\"author\":{\"@id\":\"https:\/\/realites.com.tn\/fr\/#\/schema\/person\/438b71c29a257d955d96d8aef42336e7\"},\"description\":\"\u00c0 ce jour, Zitouna Capital g\u00e8re neuf fonds communs de placement \u00e0 risque, dont les tailles varient entre 30 et 60 MTND pour un actif sous gestion de 363\",\"breadcrumb\":{\"@id\":\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#primaryimage\",\"url\":\"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg\",\"contentUrl\":\"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg\",\"width\":960,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/realites.com.tn\/fr\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PBR Rating octroie \u00e0 Zitouna Capital la note de [B+] avec perspective positive en mati\u00e8re de gestion d\u2019actifs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/realites.com.tn\/fr\/#website\",\"url\":\"https:\/\/realites.com.tn\/fr\/\",\"name\":\"R\u00e9alit\u00e9s Magazine\",\"description\":\"Actualit\u00e9s de la Tunisie\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/realites.com.tn\/fr\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/realites.com.tn\/fr\/#\/schema\/person\/438b71c29a257d955d96d8aef42336e7\",\"name\":\"La R\u00e9daction\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\/\/realites.com.tn\/fr\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/fbe9ab25fcc82b6e660ad5648f91eadb?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/fbe9ab25fcc82b6e660ad5648f91eadb?s=96&d=mm&r=g\",\"caption\":\"La R\u00e9daction\"},\"url\":\"https:\/\/realites.com.tn\/fr\/author\/realites5201\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"PBR Rating octroie \u00e0 Zitouna Capital la note de [B+] avec perspective positive en mati\u00e8re de gestion d\u2019actifs - R\u00e9alit\u00e9s Magazine","description":"\u00c0 ce jour, Zitouna Capital g\u00e8re neuf fonds communs de placement \u00e0 risque, dont les tailles varient entre 30 et 60 MTND pour un actif sous gestion de 363","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/","og_locale":"fr_FR","og_type":"article","og_title":"PBR Rating octroie \u00e0 Zitouna Capital la note de [B+] avec perspective positive en mati\u00e8re de gestion d\u2019actifs - R\u00e9alit\u00e9s Magazine","og_description":"\u00c0 ce jour, Zitouna Capital g\u00e8re neuf fonds communs de placement \u00e0 risque, dont les tailles varient entre 30 et 60 MTND pour un actif sous gestion de 363","og_url":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/","og_site_name":"R\u00e9alit\u00e9s Magazine","article_publisher":"https:\/\/www.facebook.com\/realites.tn\/","article_published_time":"2025-03-17T11:59:38+00:00","article_modified_time":"2025-03-17T12:01:17+00:00","og_image":[{"width":960,"height":720,"url":"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg","type":"image\/jpeg"}],"author":"La R\u00e9daction","twitter_card":"summary_large_image","twitter_misc":{"\u00c9crit par":"La R\u00e9daction","Dur\u00e9e de lecture estim\u00e9e":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/","url":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/","name":"PBR Rating octroie \u00e0 Zitouna Capital la note de [B+] avec perspective positive en mati\u00e8re de gestion d\u2019actifs - R\u00e9alit\u00e9s Magazine","isPartOf":{"@id":"https:\/\/realites.com.tn\/fr\/#website"},"primaryImageOfPage":{"@id":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#primaryimage"},"image":{"@id":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#primaryimage"},"thumbnailUrl":"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg","datePublished":"2025-03-17T11:59:38+00:00","dateModified":"2025-03-17T12:01:17+00:00","author":{"@id":"https:\/\/realites.com.tn\/fr\/#\/schema\/person\/438b71c29a257d955d96d8aef42336e7"},"description":"\u00c0 ce jour, Zitouna Capital g\u00e8re neuf fonds communs de placement \u00e0 risque, dont les tailles varient entre 30 et 60 MTND pour un actif sous gestion de 363","breadcrumb":{"@id":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/"]}]},{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#primaryimage","url":"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg","contentUrl":"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg","width":960,"height":720},{"@type":"BreadcrumbList","@id":"https:\/\/realites.com.tn\/fr\/pbr-rating-octroie-a-zitouna-capital-la-note-de-b-avec-perspective-positive-en-matiere-de-gestion-dactifs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/realites.com.tn\/fr\/"},{"@type":"ListItem","position":2,"name":"PBR Rating octroie \u00e0 Zitouna Capital la note de [B+] avec perspective positive en mati\u00e8re de gestion d\u2019actifs"}]},{"@type":"WebSite","@id":"https:\/\/realites.com.tn\/fr\/#website","url":"https:\/\/realites.com.tn\/fr\/","name":"R\u00e9alit\u00e9s Magazine","description":"Actualit\u00e9s de la Tunisie","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/realites.com.tn\/fr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"},{"@type":"Person","@id":"https:\/\/realites.com.tn\/fr\/#\/schema\/person\/438b71c29a257d955d96d8aef42336e7","name":"La R\u00e9daction","image":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/realites.com.tn\/fr\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/fbe9ab25fcc82b6e660ad5648f91eadb?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fbe9ab25fcc82b6e660ad5648f91eadb?s=96&d=mm&r=g","caption":"La R\u00e9daction"},"url":"https:\/\/realites.com.tn\/fr\/author\/realites5201\/"}]}},"jetpack_featured_media_url":"https:\/\/realites.com.tn\/fr\/wp-content\/uploads\/2025\/03\/Photo-PBR-Rating-Zitouna-Capital.jpg","jetpack_sharing_enabled":true,"views":123,"_links":{"self":[{"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/posts\/350600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/comments?post=350600"}],"version-history":[{"count":1,"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/posts\/350600\/revisions"}],"predecessor-version":[{"id":350604,"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/posts\/350600\/revisions\/350604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/media\/350601"}],"wp:attachment":[{"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/media?parent=350600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/categories?post=350600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/realites.com.tn\/fr\/wp-json\/wp\/v2\/tags?post=350600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}