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Amundi to buy out Fund Channel

Shot of two businessmen shaking hands in an office

Amundi Asset Management will be the sole shareholder of Fund Channel, underlining its ambitions in the fund distribution sector.

The French asset manager said that it will acquire a 49.96% stake in the Luxembourg-based platform from BNP Paribas Asset Management by the beginning of 2021, subject to regulatory approval.

Guillaume Lesage, head of the operations, services and technology division at Amundi, said: “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.”

One-stop shop

Amundi and Fund Channel also outlined an annual growth rate target of 15% for the platform.

Pierre-Adrien Domon, chief executive 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.”

Fund Channel already exceeds €200bn of assets under intermediation, whereas Amundi, which is majority-owned by Crédit Agricole Group, currently manages nearly €1.6trn in assets.

Elena Johansson

Senior Reporter

Part of the Mark Allen Group.