Amundi Funds Patrimoine is a sub-fund of the company’s Luxembourg-domiciled SICAV, marketed at investors looking for “simple and transparent investments with attractive returns and measureable risk”.
The fund has a maximum annual management fee of 2.25% and invests 85-100% of its net assets in its master fund, Amundi Patrimoine, which was launched in 2012.
It also has a performance fee of 20% of any return it achieves above EONIA+5%, the overnight European interest rate.
The French asset manager said the product implements a “flexible conviction-based management style aiming to permanently optimise risk and return by identifying potential sources of consistent long-term performance, and avoiding investment zones of excessive risk or with low visibility.
“Maximum flexiblity”
The fund is managed by Loic Becue who said he aims to provide constant support to investors and minimum exposure to market drawdowns.
He said the fund has no restrictions in terms of asset classes, sectors, and geographic regions, allowing him to vary his investments in equity, fixed income, and currency markets from 0-100% for “maximum flexibility”.
Becue said he would invest directly into securities, ETFs, actively managed funds, and derivative instruments in order to fulfil the fund’s mandate.
“Even if the market environment remains complex and uncertain, we believe that there will always be asset classes, sectors or countries that will outperform,” he added. “Our expertise must consist of selecting the most promising themes while steering clear of areas of turmoil.”
The fund is currently registered in Austria, Belgium, Denmark, Finland, Germany, Great Britain, Greece, Italy, Netherlands, Norway, Portugal, Spain, and Sweden. Its net asset vaue is caluclated on a daily basis, and it has a risk level of five out of seven. It also has a maximum annual administration fee of 0.06%.
Last month, Amundi announced that it will open an exchange-traded fund business in Asia next year with the intention of doubling its assets under management.
The French asset manager said it hopes the new venture, which will begin in Hong Kong, will contribute to its wider aim of reaching $100bn over the next three years.
Last month, the company announced further expansion in Asia, when it opened a wholly-owned mutual fund brokerage company in Thailand.
Graph showing the three-year performance of the Amundi Patrimoine master fund
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