London, Monday 5th October 2020 - Amundi, the founding shareholder of Fund Channel, announces the buyout of BNP Paribas Asset Management's 49.96% stake in Fund Channel to become once again the sole shareholder of the fund distribution platform by the beginning of 2021, subject to regulatory approval.
Amundi and Fund Channel also today outline their ambitions for the platform in the fund distribution services business, aiming at an annual growth rate of +15%. Fund Channel already exceeds €200 billion of assets under intermediation.
Guillaume Lesage, Chairman of Fund Channel and Head of Operations, Services and Technology at Amundi, said: "Amundi has always considered Fund Channel as a strategic activity that is part of its historical distribution services business. In becoming its sole shareholder once again, Amundi intends to develop Fund Channel's offering to confirm its role as a key player in the fund distribution business."
Pierre-Adrien Domon, Managing Director of Fund Channel, added: "We are continuing to integrate additional links in the fund distribution value chain, from asset servicing to asset management, with the aim of offering a comprehensive, attractive and relevant one-stop shop to our clients, both distributors and asset managers in Europe and Asia.”
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Amundi, the leading European asset manager, ranking among the top 10 global players, offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages nearly €1.9 trillion of assets.
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