Amundi Alternative Investments has received a licence to operate all its investment solutions under the Alternative Investment Managers Directive (AIFMD).
France is currently leading the way in terms of issuing licences for alternative investment managers under the AIFMD, signalling its ambition to compete with the more established countries, Ireland and Luxembourg, for cross-border funds business.
Amundi Alternative Investments says in a statement that the licence allows institutional and private wealth clients to access alternative funds within a harmonised European regulatory framework.
Amundi’s AIFMD product offering comprises ten funds of funds and 21 managed accounts.
Up until 2009, its alternative funds were domiciled offshore. With the advent of the AIFMD, business activities have been transferred to Europe.
“[Investors] demand a well-controlled environment that protects their interests and guarantees fair treatment of shareholders,” Amundi says.
“International investors will from now on be able to choose new investment solutions based on the successful Ucits format, while being better suited to their requirements and to building long-term savings.”
Amundi Alternative Investments is a wholly-owned subsidiary of Amundi, one of France’s largest asset managers, with €750 billion of assets under management.
©2013 funds europe
