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Amundi launches new money market fund

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Amundi has launched the Amundi Money Market Fund – Short Term (USD), a dollar sub-fund of its Amundi Money Market Fund Luxembourg SICAV.

As a long-standing leader in French and European money market funds with over EUR119 billion of assets under management, Amundi is aiming to extend its experience and expertise in this sector to European corporate treasurers and financial decision makers investing in dollars.
 
The European institutional and corporate money market amounts to some USD304 billion (EUR211 billion). Laurent Bertiau, Deputy Head of the Institutional Investment division, in charge of global sales of Amundi, explains: “The launch of Amundi Money Market Fund – Short Term (USD) should offer us the opportunity to help major European companies invoicing in dollars manage their treasury in coming years”.
 
Amundi Money Market Fund – Short Term (USD)  benefits from a robust investment process and aims to outperform capitalised fed funds.It offers a choice of two share classes:
 
– constant NAV (Net Asset Value): the NAV of this share class does not vary. Net returns are accumulated on a daily basis and either paid in cash monthly to the investor or reinvested

– variable NAV share: the NAV of this share class changes every day and net returns are accumulated
 
Amundi constantly strives to provide investors with transparent and accessible information and to this end has created a transactional website. The late-day cut-off time, developed in partnership with the depositary, CACEIS Bank Luxembourg, enables clients to place orders for daily settlement until 4pm.
 
This sub-fund is managed by Amundi’s money market management team, comprised of six portfolio managers with a 16-year track record, and benefits from significant additional internal resources (credit analysis, economic and strategic research, risk department).
 
Bertiau says: “Through the extension of our range of Luxembourg monetary products, we aim to become a leading asset manager for constant NAV products. With this sub-fund, we aim to offer our clients the strength of Amundi’s money market expertise at ‘low-cost’ combined with top-quality client service”.

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