In an ever-evolving industry, Amundi strives to develop and offer new solutions which meet client expectations, especially in the area of responsible investment. As a European leader, Amundi is determined to innovate both for its clients and for society as a whole, with a view to creating sustainable solutions.
In spite of an increasingly tough market environment in which almost all asset classes were in negative territory, all of Amundi’s investment strategies maintained or even strengthened their market shares. 2018 saw the deployment of new innovative solutions, particularly for thematic, real asset, absolute return and passive management.
The Liquidity Solution business line continued growing and consolidated its European leadership. In a highly competitive environment, especially due to the accelerating ongoing reintermediation process, Amundi managed to win new clients in continental Europe, particularly in Germany and Benelux. The French scenery is somewhat more contrasted, with net outflows, as several major Corporate clients chose to focus on external growth moves. In 2018, high rate volatility caused bond spreads to widen, especially towards the end of the year. This had a negative impact on performances. In this environment, Fixed Income consolidated their assets under management, and launched many new initiatives. The European Fixed Income platform launched a Quant range, expanded its ESG* offer and developed maturity investment solutions which fit the new market conditions. US Bond management strategies achieved strong positive inflows on their ultra-short duration Fixed Income expertise. Amundi also gained additional market shares in Emerging Fixed Income, with significant inflows on its Aggregate Hard Currency strategies. With main indices dropping, the Equity platform suffered the double blow of asset depreciation and investors withdrawal. Despite globally negative inflows, significant wins were achieved. Chiefly among these are the European equity management strategies, with European Equity Value* which raised 2 billion euros, thus becoming one of 2018’s most successful products on the market. Thematic funds also performed remarkably with the CPR Invest – Global Disruptive Opportunities fund* – 1 billion euros in net assets under management –, while continuing to innovate through the launch of funds dedicated to education and climate. Regarding US equities, growth type solutions boast the best relative performance. Emerging equities also reached above market relative results.
Multi-Asset strategies once again achieved strong positive inflows with +10.1 billion euros in 2018 and reaffirmed their position as Europe’s leading platform, with 251 billion euros in assets under management. They progressed on all client segments, especially as discretionary management enjoyed growing success both with private – wealth management – and Institutional – controlled risk solutions – clients. Flagships funds kept gaining new assets under management and those launched in 2018, such as the Amundi Funds II – Euro Multi-Asset Target Income*, have proved highly successful as well.
Structured management strategies also enjoyed strongly rising fundraising – 1.6 billion euros – and now top the rankings for structured products providers in the eurozone. A record-breaking year was achieved with the LCL network, while the launch of a first guaranteed fund in Thailand turned out to be a major commercial success.
In difficult market conditions, the ETF, Indexing and Smart Beta* platform achieved new record-breaking growth and reached over 95 billion euros in AUM at the end of 2018. With 3.8 billion euros in inflows, Amundi ETF has won market shares and now ranks fourth among ETF suppliers in Europe. It has captured 30% of total inflows for emerging markets and close to 35% on European equities. In addition to receiving several awards for its competitiveness and ability to answer investors’ needs, Amundi ETF has maintained its innovation strategy, with the launch of a complete range of ESG* ETFs and of a specific Artificial Intelligence thematic ETF*. Innovation was also the name of the game for Smart Beta solutions, with the Equity Europe Conservative fund* now exceeding 1 billion euros in AUM and the launch of an Alternative Risk Premia mandate, and for the Indexing platform, which gained several prestigious mandates with large international investors in 2018.
The Real and Alternative Asset platform continued to grow and now manages over 45 billion euros. With close to 3.2 billion euros raised, Amundi reaffirmed its leadership position for collective public real estate (SCPI* and OCPI*). The private debt division, which now manages over 6.5 billion euros, expanded its range of expertise with acquisition and real estate debts, and further diversified its clientbase through the launch of the third generation of its corporate senior debt funds. Amundi also consolidated its position on the direct private equity market, with inflows in excess of 300 million euros for the ETI Megatrends programme, while multimanagement recorded its best year so far, with more than 1 billion euros deployed. Lastly, Amundi Transition Énergétique finalised its first fundraisings, and now manages 468 million euros for European Institutional clients. Amundi also reinforced its social and environmental impact investment strategies. Through its partnership with IFC (1), the Group launched Amundi Planet Emerging Green One*, the largest green bond fund dedicated to emerging markets, which raised 1.63 billion euros in 2018. This market-acclaimed initiative will be replicated in 2019, with the addition of a green component to the Credit Continuum strategy, in partnership with EIB (2). Solidarity-based assets under management grew by 17.2% in 2018, and will be doubled by 2021.
(1) International Finance Corporation is the World Bank subsidiary dedicated to the private sector.
(2) The European Investment Bank is the European Union’s non-profit long-term lending institution.
€3.8bn Net inflows by Amundi ETF in 2018
€45bn Assets under management for the Real and Alternative Asset platform at end of December 2018