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November 11, 2020

Amundi completes integration of Goldman Sachs’ Luxembourg funds

French asset manager Amundi has finalised the integration of Goldman Sachs’ Fund Solutions & Origination (GSFSO) activities which included Luxembourg-domiciled fund platforms.

This comes more than two years after an agreement was signed between the two companies for the management of Luxembourg-domiciled funds.

With the completion, Amundi Luxembourg became the management company of three Luxembourg systematic and alternative management Sicavs with €2.6bn assets under management.

The entity will serve as a management company for the Luxembourg investment vehicles based on GSFSO’s systematic trading strategies.

Under the partnership agreement, Amundi also agreed to offer management, due diligence and monitoring services to Goldman Sachs’ UCITS platform dedicated to external alternative fund managers.

Amundi Luxembourg CEO Jeanne Duvoux said: “Supporting GSFSO’s platforms demonstrates Amundi’s ability and know-how in managing complex integration processes and has strengthened Amundi’s value proposition in quantitative and alternative multi-management activities.

“Fund hosting services are fully in line with Amundi’s development strategy, with the ambition for Amundi Luxembourg to become one of the leaders in third-party asset management in the long term.”

Goldman Sachs managing director Maryline Mertz said: “We are delighted to have completed the implementation of our partnership with Amundi. This partnership offers strong support for our business.”

Last month, Amundi reported an increase in income in Q3 2020. The asset manager also registered growth in assets driven by a high level of inflows.

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