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French giant Amundi launches UCITS Fund of Funds

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French giant asset management firm, Amundi, has announced the launch of a new UCITS fund to be managed by Amundi Alter

French giant asset management firm, Amundi, has announced the launch of a new UCITS fund to be managed by Amundi Alternative Investments; one of the world’s largest FoF managers with an 18-year track record and EUR8.5 billion in AUM (end-June). Entitled Amundi Funds Multimanagers Long/Short Equity, the Lux-domiciled sub-fund will employ equity l/s and arbitrage strategies, giving investors looking to diversify their portfolios access to sophisticated strategies previously the sole preserve of traditional hedge funds. The fund will attempt to outperform Eonia (Euro Overnight Index Average) by 5 per cent annually, keeping volatility to 8 per cent. As well as conducting rigorous due diligence when identifying suitable managers and reducing risk by selecting a diverse basket of underlying funds, strategies and geographic exposures, Amundi Alternative Investments will also invest up to 10 per cent of the fund’s assets into volatile strategies during periods of market stress. The fund, which Amundi recommends should be invested into with a four-year time horizon, has been registered in 14 European countries ranging from Austria and Greece through to Spain and the UK. No details on the fund’s size were known at the time of writing. Unfortunately, nobody at Amundi was available to comment on the launch at the time of writing. 

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