Fixed IncomeApr 14 2014

Amundi in bid to break into UK market

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by

French fund giant Amundi has unveiled plans to launch five products aimed at discretionary managers and multi-managers in a bid to establish its brand in the UK.

The group plans to roll out the products on retail platforms once it has gained traction with professional buyers, head of UK distribution Jerry Devlin said.

Amundi is known in the UK for its exchange-traded funds, but has been building its UK distribution team to promote its actively managed products.

Mr Devlin joined last June alongside Mark Miller, who will lead the group’s UK institutional distribution. Laurent Guillet was appointed chief executive of the London office last year.

Mr Devlin said: “We are not currently set up to serve the mass market. It is much better to build a brand and profile first which can deliver in the near term, and then grow organically.”

The group’s flagship product, the $3.7bn Amundi Bond Global Aggregate fund, is run by Laurent Crosnier along with Pascal Dubreuil, who are both members of Amundi’s London-based fixed income team.

Amundi is also promoting its €434.8m Euroland Small Cap fund, the First Eagle Amundi International fund, run by its US partner firm First Eagle Investment Management, and two convertible bond funds.

The Global Aggregate fund has posted a return of 93.2 per cent since launch in October 2007, according to Amundi.