Amundi Austria has acquired robo-adviser Savity, which provides access to professional asset management services to retail clients.

Financial terms of the deal were not revealed.

Savity uses technology to build segregated portfolios for clients, with different risk profiles, taking into account their investment objectives and sustainability preferences.

The firm uses technology to develop segregated portfolios for clients with different risk profiles based on their investment objectives and sustainability preferences. It currently offers four investment options.

Following the transaction, Savity’s clients will be able to tap Amundi’s global investment expertise to manage diversified and efficient portfolios.

The deal form’s part of Amundi’s efforts to cater to the evolving need for digitalised financial services in Austria, specifically for digital portfolio management.

Savity, is said to complement Amundi Technology, the technology arm of Amundi, and is expected to accelerate the development of its digital segregated portfolio management solutions.

It will also enable Amundi to better support its partners, distributors as well as their retail clients in Austria.

Furthermore, the acquisition will help Amundi address clients’ specific digital transformation requirements by developing new tools.

Amundi COO Guillaume Lesage said: “At Amundi, our goal is to serve our distribution partners beyond the product offering to meet their customers’ growing need for investment advice and innovative, tailored and cost-effective technology solutions.

“Savity precisely meets these requirements and enhances Amundi Technology’s footprint in the B2B segment. This powerful technology, combined with our expertise in robo-advising and the extensive portfolio management capabilities of Amundi will further drive the development of Savity.”

Amundi Austria CEO Gabriele Tavazzani said: “With Savity, we are broadening our digital technology services in Austria and meeting clients’ needs for investment advice and performing tools admidst the growing digitalisation of  financial services and in particular portfolio management in Austria, a trend accelerated by the Covid pandemic.”