European asset manager Amundi has forayed into Singapore retail market by launching its flagship fund, Amundi International SICAV, to tap into the wealth preservation needs of the Asian clientele.
Amundi asset management, aims to increase and develop its footprint in Asia with this fund, building on its 30 year presence in the region.
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The firm currently has over US$74 billion asset under management (AUM) in Asia, and aims to increase this to US$100 billion within the next three to five years. With a dominant focus in institutional management, as the 10th biggest player in Asia, a core strategy is to further expand in the retail realm.
The SICAV fund is the first of many retail funds to be rolled out over the coming years, mentions Jenny Sofian, CEO of Amundi Singapore and head of Southeast Asia and Australia: "Amundi Singapore is now entering an exciting phase in its development and is looking to provide investment solutions that cater to the needs of retail investors. We will be rolling out a suite of funds which will address the needs of individual investors over different investment cycles and time horizons."
The SICAV fund is a core wealth preservation offering, to a global allocation strategy in equities.
Lionel Florentin, head of distribution for Southeast Asia at Amundi, said: "In a period marked by uncertainty and market volatility, investors are primarily seeking to preserve and grow their wealth. The commercial success of Amundi International SICAV lies in its ability to meet our clients’ requirements in terms of robust management and performance by applying conviction, patience and caution."
Since its creation in 1996, Amundi International SICAV has been popular among investors across European countries attracting total assets of over US$4 billion.
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