Goldman Sachs Fund Solutions, a business within Goldman Sachs’ Securities Division is partnering with Amundi, Europe’s largest asset manager with €1.4tr1 under management, to manage Luxembourg-domiciled funds based on Goldman Sachs’ proprietary systematic strategies and to expand its alternative UCITS offering. Goldman Sachs Fund Solutions aims to significantly increase assets over the coming years, primarily through institutional investors and financial intermediaries.
Through its business line, Amundi Services, Amundi will provide investment management as well as ongoing control and oversight services to Goldman Sachs Fund Solutions, which offers systematic strategies via alternative investment funds and UCITS platforms. Amundi will also provide management, due diligence and monitoring services to Goldman Sachs’ UCITS platform dedicated to external alternative fund managers. Amundi acts as management company for over 300 Luxembourg subfunds1 (UCITS and AIFs) with assets totaling €144 billion1
Investment management of the funds will be carried out by the structured products team of Amundi. Amundi is the No. 1 provider of guaranteed and structured funds in Europe2.
Stefan Bollinger, co-Head of Global Sales Strats and Structuring, Goldman Sachs Securities Division, said: “Goldman Sachs Fund Solutions is pleased to be partnering with Amundi to continue to provide market leading systematic strategies and access to leading hedge fund managers through our UCITS platform. We believe that Amundi’s scale, independence and experience combined with Goldman Sachs’ product expertise will create a cutting edge platform to meet the needs of existing and future clients of our firms. This partnership demonstrates Goldman Sachs’s Securities Division’s commitment to the fund market in Europe and beyond.”
Guillaume Lesage, Head of the Operations, Services and Technology Division of Amundi, added: “We are delighted to be chosen as hosting provider for Goldman Sachs’ Fund Solutions in Luxembourg. The partnership is a testament to Amundi’s ambitions to develop world-class infrastructure services for institutional investors, asset managers and fund distributors. Since 2016, Amundi Services has attracted over twenty third-party asset managers and asset owners as clients. The platform leverages Amundi’s strengths in technology, investment and regulatory knowhow, global reach and access to liquidity derived from its scale of assets under management - €1.4tr1 – across all asset classes”.
Amundi Services is an operational platform for asset management companies and institutional investors. It offers order execution, data management, processing and reporting, control of adherence to investment rules and calculation of portfolio risk indicators. The platform is interconnected with over 40 dealers worldwide and currently manages 6,000 portfolios of all types. With €1.4tr1in assets under management the platform enjoys economies of scale and pricing power for execution of orders.
1 Amundi figures as of September 30, 2017
2 Source : Broadridge , September 2017, open ended funds domiciled in Europe
This material is solely for the attention of journalists and professionals of the press/media sector. The information contained herein concerning the funds and services, is given solely in order to provide journalists and professionals of the press/media sector with an overview of the funds and services and the use of same falls within their sole editorial independence, for which Amundi assumes no responsibility.
Goldman Sachs Fund Solutions is a bespoke solutions-oriented fund investments platform that was launched in 2004 within the Securities Division of Goldman Sachs International (which is independent from Goldman Sachs Asset Management). The business aims to provide investors with access to both unique internal cross-asset content and a select group of external alternative asset managers. Clients are offered exposure to these strategies via regulated funds (UCITS, SIF, QIF), unregulated funds, managed accounts, derivatives and notes. Goldman Sachs Fund Solutions currently has multiple funds with a total AUM of $5bn across a diverse range of asset classes: commodities, equities, hedge funds and fixed income.
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Amundi, the leading European asset manager, ranking among the top 10 global players, offers its 100 million clients – retail investors, institutional investors and companies – 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 4,700 employees in nearly 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages over €1.7 trillion in assets.