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.”
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.