“Our ability to combine the strengths of an international group and the proximity of a local player is a major asset.” Franck du Plessix

Franck du Plessix
Chief Executive Officer of Amundi Czech Republic

In the last ten years, the Czech fund market has been driven by the growth of a national economy that is closely linked to that of Germany, and has experienced signifi cant progress. “Distribution, however, still remains very concentrated, with three main players, which are all subsidiaries of major European banks and hold a 70% market share,” says Franck du Plessix. The situation is somewhat different in neighbouring Slovakia, where local banks dominate the – smaller – national market, and in Bulgaria, where a few middle-sized local players are competing with Bulbank, UniCredit’s local subsidiary. “But there is something all three countries have in common,” Franck du Plessix explains. “Their investors are quite cautious: even though they favour investment solutions, they primarily want to minimise risks.”

“We intend to capitalize on our high-performing thematic funds, dedicated to population ageing or technological innovations.” Franck du Plessix

€54bn The global value of the Czech asset management market

The ability to mix “global” and “local”
Amundi ranks third in the Czech Republic and achieved positive net inflows in 2018, in a difficult market environment. “We do have several major assets,” Franck du Plessix says. “Chief among them are our partnerships with Komercni Banka, the local Société Générale subsidiary, and with UniCredit. In addition, we are very active on the high-growing wealth management advisors’ market. We also benefit from our ability to both rely on the strengths of an international organisation and to offer local solutions.” The very same aptitude to establish strategic partnerships and to mix “global” and “local” is also what makes Amundi one of the top 5 players in Slovakia and the market leader in Bulgaria.

The Amundi “triangle” as a key growth lever
In 2019, Amundi intends to capitalise on its highly successful Money Market Fund* in the Czech Republic, as well as on several high-performing thematic funds, dedicated to population ageing or technological innovations. “We also want to strengthen our cooperation with our banking partners, by increasingly rolling out the Amundi triangle – products, tools, services – and with wealth management advisors, through a dedicated platform, which we will expand and export to other Central European countries,” concludes Franck du Plessix. “Last but not least, as we only started to operate under the Amundi name in 2018, we are going to keep working on raising brand awareness.”