Amundi becomes Fund Channel's sole shareholder and reaffirms its ambitions for the platform
London, Monday 5th October 2020 - Amundi, the founding shareholder of Fund Channel, announces the buyout of BNP Paribas Asset Management's 49.96% stake in Fund Channel to become once again the sole shareholder of the fund distribution platform by the beginning of 2021, subject to regulatory approval.
Amundi and Fund Channel also today outline their ambitions for the platform in the fund distribution services business, aiming at an annual growth rate of +15%. Fund Channel already exceeds €200 billion of assets under intermediation.
Guillaume Lesage, Chairman of Fund Channel and Head of Operations, Services and Technology at Amundi, said: "Amundi has always considered Fund Channel as a strategic activity that is part of its historical distribution services business. In becoming its sole shareholder once again, Amundi intends to develop Fund Channel's offering to confirm its role as a key player in the fund distribution business."
Pierre-Adrien Domon, Managing Director of Fund Channel, added: "We are continuing to integrate additional links in the fund distribution value chain, from asset servicing to asset management, with the aim of offering a comprehensive, attractive and relevant one-stop shop to our clients, both distributors and asset managers in Europe and Asia.”
Amundi, the leading European asset manager, ranking among the top 10 global players1, 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 hubs2, 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 4,500 employees in nearly 40 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages nearly €1.6 trillion in assets3.
Amundi, a Trusted Partner, working every day in the interest of its clients and society
About Fund Channel
Fund Channel is a regulated Luxembourg based B2B fund distribution platform created in 2005 and currently operating across a dozen different countries in Europe and Asia. It has offices in Luxembourg, Switzerland, Singapore and Italy.
At the end of 2019, Fund Channel exceeded €200 billion of assets under intermediation and has over 550 asset managers and 100 distributors on its platform. It was ranked as the fourth largest platform in Europe (source: PlatForum June 2020).
Fund Channel provides a comprehensive range of digitised services related to all facets of fund distribution activities with a view to making fund distribution easier. These services include among others: striking distribution agreements with both distributors and asset managers, facilitating KYC and KYD obligations, communication of funds data and documentation, sales and target market exceptions reporting, enabling contacts between distributors and fund managers, and growing assets under distribution.
1 Source: IPE “Top 500 Asset Managers”, published in June 2020, based on AuM at 31/12/2019.
2 Boston, Dublin, London, Milan, Paris and Tokyo
3 Amundi data at 30/06/2020