Amundi's Fixed Income Strategies

Amundi's broad expertise, which spans all fixed income markets, allows to continually seek out the best opportunities for our clients. The size and structure of these markets continue to evolve, offering new ways for investors to source potential returns.

4 reasons to partner with Amundi for Alpha Fixed Income strategies

The Alpha Fixed Income range in a glimpse

Bonds

Absolute Return

Credit Capabilities: Combine the best credit opportunities

Our capabilities allows to re-allocate among credit sectors and sub-segments provides increased robustness of portfolios in times of uncertainty.

Our strategies are backed by our stable and experienced Credit Analysis Team - one of the largest in Europe, covering US, Emerging and Developed markets. Their top quality research and analysis supports investment teams in designing the most optimal allocation according to the prevailing bond & credit market conditions.

US Fixed Income

Committed to offering the widest scale of opportunistic solutions, Amundi has refined investment process behind US Fixed Income. A dedicated investment team is implemented locally, including 8 Senior FI Portfolio managers with an average of 25 years of industry experience.

This team manages an extended spectrum of assets, backed by sector specialists: liquid markets, securitized credit and corporate credit professionals. It focuses on security selection and sector rotation and implements a consistent investment approach across multiple U.S. fixed income sectors, combining proprietary quantitative valuation tools with in-depth fundamental investment analysis and market experience to identify attractive sectors and securities.

Our established platform is renowned for its long-standing expertise in institutional Fixed Income strategies:

• Multi-Sector Fixed Income: core fixed income strategies & US treasuries, including total return to boost return potential
• Asset-Backed Strategies: from high credit quality to agency mortgage-backed securities and securitised credit to obtain a high level of current income and reduce interest rate risk
• Credit Strategies: relative value, global or US high yield, corporate credit allowing to invest in Investment Grade and High Yield as well as mortgage-backed securities and emerging markets corporates.

EM Fixed Income

Amundi applies an integrated and research led approach to investing in emerging markets, looking across equity and fixed income. Understanding government bonds markets enables a better understanding of growth and inflation. Rates help us understand systemic risk. Credit and equity markets are symbiotic but not always efficient. Understanding the full cost of capital creates opportunity.

Our strategies: Blend & Aggregate Hard Currency Sovereign Local currency Credit Short Term Flexible Multi-Sector
	Source: Amundi Asset Management, as of December 31, 2020

Fixed Income Allocation

Amundi offers a comprehensive range of solutions addressing the recurring needs of our investors.

Amundi's teams offer structural and tactical strategies for all allocation purposes.

Willing to seek out value in the largest scale of fixed income instruments, Amundi has developed an in-depth expertise in innovative strategies such as Quantamental, Credit Continuum and Liability Driven Investment (LDI) strategies.

Green Fixed Income

« Greening » fixed income markets is critical if the financial sector wants to successfully embrace the Paris climate agreements goals.

Quantamental

 Amundi offers innovative active Fixed Income solutions, at the crossroad between Quantitative and Fundamental analysis. This approach is the concrete answer to clients’ needs for diversification and current market conditions (low rates, increasing number of bond issuers…) illustrated in our working paper: Traditional and Alternative Factors in Investment Grade Corporate Bond Investing.

This is an unbiaised rule-based investment approach to make the most of the market trends and new alternative factors.

Credit Continuum

Amundi aims to make the most of the whole credit spectrum. Going beyond traditional credit cliffs, we offer a flexible European credit solution with potential attractive yield.

Investors have to adapt to a context of higher uncertainty, including low rate and high duration risk.

The strategy:

1. Includes private debt in the credit allocation
2. Invests in a wide investment universe
3. Takes advantage of attractive European features
4. Combines the best credit opportunities

Amundi has developed an in-depth expertise in strategies such as ESG Fixed Income, willing to seek out value in the largest scale of fixed income instruments.

Amundi was one of the first Asset Managers to be involved in Responsible Investment. Our commitment to Responsible Investment dates back to 1989 with the launch of one of the first ethical investment funds. In 2004 Amundi was the first European Asset manager to launch an open-ended SRI Credit fund. Being a responsible financial actor is one of our teams’ daily stance. This commitment is translated into both our investment processes as well as our range of investment solutions.

Responsible investment offering Amundi offers to all client segments a wide range of open-ended funds and tailor-made Responsible Investment solutions that incorporate ESG factors into investment decisions. Read more

¹ Source: Amundi, as of June 30, 2021
_{²Low duration strategies: short-term bonds maturing predominantly before five years. Our teams are managing a comprehensive range a low duration solutions ranging form directional IG & HY strategies, FRN-like strategies and Absolute Return stragegies.
³ ABS : an asset-backed security (ABS) is a financial security collateralized by a pool of assets such as loans, leases, credit card debt, royalties or receivables. Amundi is a leading player in this field. In 2014, the European Central Bank (ECB) appointed our team to conduct its Asset-Backed Securities Purchase Programme (ABSPP).
⁴Subordinated bond : a subordinated bond is a security that is senior to equity securities and junior to other securities in terms of debt servicing. Amundi has expertise in managing two strategies in this field – globally and in Europe.
⁵Unconstrained strategies : unconstrained investing, or flexible investin, allows the fund managers to consider a broad range of investment opportunities without the constraints of following a benchmark (i.e. absolute return strategies). Amundi is a growing player in this field, with an extensive range of global and flexible, investment solutions in the absolute return fixed income space.
⁶Rule-based strategies : a rule-based strategy based itself on data computing and analysis. Amundi Fixed Income teams leverages on its proprietary tools to develop and launch Risk Premia, Value Factor and multifactor strategies. These strategies show enhanced return/risk profiles as compared to traditional benchmarks.
⁷Credit continuum : a Credit Continuum strategy aims to make the most of the whole Credit spectrum ranging from liquid Corporate Bonds (both Investment Grade & High Yield) to lesser liquid assets including Secured Assets, Private Debt, and growth assets such as Infrastructure or Shipping. Our teas have designed different credit continuum strategies including an open-ended solution and a Green Credit Continuum.}