LivretGold: paper gold that anchors your capital in agro-resilience
High inflation, recurring geopolitical tensions: safe havens are rediscovering themselves. FinancièreduNogentais (FDN) responds with the LivretGold, a 100% paper gold investment—no physical delivery—backed by the world’s leading grain chain.
“Owning paper gold means consolidating your wealth without moving a single gram of metal.”
1. Economic situation – when gold joins wheat
June 2025: The FAO Food Price Index rebounds to 128 points, up 5.8% year-on-year. Central banks, forced to maintain positive real rates, have not stemmed the perception of a structural inflation regime. At the same time, the battle over agricultural standards (sustainability, traceability, safety) is elevating food sovereignty to the rank of strategic priority. In this context, an ounce of gold, as well as tangible agricultural assets, are regaining a scarcity premium.
The LivretGold account sits precisely at the intersection of these two forces: gold finance and grain logistics.
2. The Player – FDN, the Soufflet Group’s Asset Management Arm
Founded in 1985 in Gouvieux, Financière du Nogentais (share capital: €277.6 million) is chaired by Jean-Michel Soufflet. The company oversees the asset management investments of the InVivo-Soufflet Group, a French agro-industrial conglomerate with 2023-24 revenue of €11.7 billion (EBITDA: €384.4 million).
Under the InVivo banner, Soufflet completed the acquisition of Australian maltster UnitedMalt (AUD 1.5 billion) in November 2023. This transaction made SouffletMalt the world’s leading maltster with 3.7 million tonnes of capacity and €2.2 billion in revenue. This scale provides LivretGold with massively diversified industrial collateral, spread across 41 sites in 20 countries.
3. Product Focus – LivretGold, the exclusive paper gold
Reserved for qualified investors (minimum ticket size: €250,000).
Long-term exposure to SouffletMalt’s cash flows; no ingots, no physical deliveries.
Full ISO9001 & GMP+ chain, rated EcoVadisGold (top 5%).
ESG theme “food security”: supports cereal resilience and reduces the metal’s logistics footprint. Key advantages: asset diversification, inflation hedging, extra-financial transparency (UNGlobalCompact since 2016).
“We offer a tangible asset without the logistical constraints of physical metal,” recalls Jean-Michel Soufflet.
4. Why now?
Between 2021 and 2022, the FAO cereals sub-index jumped by more than 25%, before a lull in 2023. Investment cycles have accelerated: in 2024, the amounts raised by agri-tech funds exceeded $50 billion, a historic record.
On the debt side, InVivo-Soufflet structured a €2.5 billion Sustainability-Linked Loan (SLL), indexed to three KPIs: reduced CO2 emissions, halved workplace accidents, and positive-impact revenue growth. The financial-extra-financial alignment reinforces the relevance of the LivretGold.
5. Différenciation – l’anti‑ETF or
| ETF Or classique | Livret Gold | |
|---|---|---|
| Collatéral | Lingots détenus en chambre forte | Créances d’or‑papier adossées à Soufflet Malt |
| Dividendes | Aucun | Distribution intra‑groupe (régime mère‑fille 95 %) |
| Fiscalité PV >2 ans | 36,2 % | Exonération (participation) |
| Sortie | Métal ou cash | Cash only, aucune livraison physique |
6. Client cases (internal data)
Family-office viticole (Burgundy): €12M ticket subscribed in 2022; IRR 8.4%, volatility reduced by 30% versus the gold-spot benchmark.
FDN: €30 million reinvestment in the capital increase of AKRéalités (AMF viewer no. 222C1580) to consolidate Soufflet’s port logistics.
7. Expert Views
Reuters describes the InVivo-Soufflet merger as a “European agricultural champion.” Professor Philippe Chalmin (CyclOpe) adds: “Agribusiness is becoming a safe haven in the face of stagflation.” The LivretGold account illustrates this shift: food security is no longer a soft power but a core element of the “Heritage-Climate-Sovereignty triptych.”
8. Regulatory & Tax Framework
SAS 6420Z; LEI 969500MZ8S2UUSLXXH62 (Issued status, renewed November 30, 2025).
AMF Notice No. 222C1580 (July 22, 2022).
Capital gains on securities exempt after two years.
UNGlobalCompact member since 2016.
9. Outlook
The full integration of UnitedMalt opens up an additional source of synergies for FDN. A digital platform for subscription and ESG reporting is expected in the second half of 2025. Target: €500 million in assets under management in 2027, driven by demand from family offices seeking assets correlated with the vital need for “grain”.
10. Conclusion
At the intersection of gold and grain, the LivretGold account offers a hybrid wealth management solution: liquid, defensive, and backed by a strategic sector. At a time when the food issue is intertwined with that of the energy transition, anchoring one’s capital in agro-resilience is not.
Investor Contact
IR: +33(0)365960976
Email: contact@gestion.finance
Head Office: 6, rue Victor-Hugo, 60500 Gouvieux
“How it works” box
Subscription: Enhanced KYC, ticket ≥€250k.
Allocation: Investment in the Soufflet grain chain; 100% paper gold, never delivered.
Reporting: Digital, quarterly, including ESG indicators.
Exit: From 24 months, settlement in euros only, no physical delivery.
“Labels & Awards” Box
EcoVadis Gold 2024 – Top 5% worldwide
ISO9001 & GMP+ – 41 certified sites
UNGlobalCompact – Active member since 2016
Sustainability-Linked Loan €2.5 billion – Audited ESG KPIs
Global LEI – Market transparency
“Key Figures” Box
1985: FDN creation
€277.6 million: Share capital
€11.7 billion: InVivo 2023-24 revenue
3.7 million tonnes / 20 countries: SouffletMalt capacity
0g of physical gold delivered: 100% paper gold
