Amundi announces the completion of the Pioneer Investments’ integration with the merger of its three Luxembourg flagship vehicles: Amundi Funds, Amundi Funds II (ex Pioneer Funds) and Amundi Sicav II (ex Sicav feeding Pioneer Funds). After the workforce reduction, IT migrations and legal mergers of the entities, this is the last phase of the Pioneer integration, the closing of which was announced on July 3, 2017.
The main objective of this rationalisation is to simplify the offer of Luxembourg funds for both retail and institutional clients by retaining only the best performing funds from these Sicavs. The selection will take into account not only the performance, fund size and characteristics, but also client requirements and potential demand.
At the end of June, this rationalisation will create a single Luxembourg umbrella Sicav, Amundi Funds, with around 90 sub-funds - compared with more than 150 initially with the three Sicavs - and whose total assets under management will reach nearly €90 billion.
This flagship will offer the full range of the group's expertise in order to meet all the investor needs. More than half of its sub-funds will have assets under management over €500 million, and one-third will have AuM over €1 billion. 84% of them should also have a Morningstar rating of at least 3 stars.
Fathi Jerfel, Head of Retail Clients Division at Amundi says: "This merger of the Luxembourg SICAVs of Amundi and Pioneer completes the integration of Pioneer Investments in record time. It will provide our clients with a complete range of funds that bring together the best of the group's expertise, which the acquisition of Pioneer has strengthened”.
Head of Press Relations and Digital Communication
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.
With its six international investment hubs, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 4,800 employees in more than 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.750 trillion of assets.
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- Source: IPE “Top 500 Asset Managers” published in June 2020, based on assets under management as at 31/12/2019
- Boston, Dublin, London, Milan, Paris and Tokyo
- Amundi data as of 31/03/2021