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February 9, 2018

Goldman Sachs taps Amundi to manage Luxembourg funds

Goldman Sachs Fund Solutions has reached an agreement with Amundi to manage Luxembourg-domiciled funds based on Goldman Sachs’ proprietary systematic strategies and to expand its alternative UCITS offering.

Under the agreement, Amundi through its business line Amundi Services will offer investment management as well as ongoing control and oversight services to Goldman Sachs Fund Solutions.

It will also offer management, due diligence and monitoring services to Goldman Sachs’ UCITS platform dedicated to external alternative fund managers.

The structured products team of Amundi will carry out the investment management of the funds.

Goldman Sachs Securities Division co-head of global sales strats and structuring Stefan Bollinger said: “We believe that Amundi’s scale, independence and experience combined with Goldman Sachs’ product expertise will create a cutting edge platform to meet the needs of existing and future clients of our firms. This partnership demonstrates Goldman Sachs’s Securities Division’s commitment to the fund market in Europe and beyond.”

Amundi head of the operations, services and technology division Guillaume Lesage said: “The partnership is a testament to Amundi’s ambitions to develop world-class infrastructure services for institutional investors, asset managers and fund distributors.

“Since 2016, Amundi Services has attracted over twenty third-party asset managers and asset owners as clients. The platform leverages Amundi’s strengths in technology, investment and regulatory knowhow, global reach and access to liquidity derived from its scale of assets under management – €1.4tr – across all asset classes.”

Amundi said it currently acts as management company for over 300 Luxembourg subfunds (UCITS and AIFs) with assets totaling €144bn.

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