International - Multi-Asset

Multi-Asset & Advisory

One-stop active solution with a broad range of Multi-Asset capabilities, including Allocation Driven, Outcome-Oriented, Responsible Investing capabilities as well as Bespoke Advisory.

We partner with our clients to understand their goals, values and constraints to deliver unique outcomes that match their expectations.

Amundi: a European leader in Multi-Asset investing


Picto - AuM
€ 298 bn Assets under management¹
Picto - Dedicated team - people
+ 150 Multi-Asset experts with complementary skills and expertise¹
Picto - Years experience
35+ Years of history in Multi-Asset investing / advisory¹

In today’s low-yield environment, the need to build more genuinely diversified portfolios is essential to enhance returns and protect against excessive drawdowns. In essence, a holistic approach to Multi-Asset investment is needed. To Amundi, it means ‘looking beyond the traditional approach to diversification’, identifying the risk factors that fundamentally drive asset classes returns and measuring and combining them in an effective way. We see cross assets portfolio as a combination of interrelated components managed towards achieving the portfolios’ investment goals.

Matteo Germano
Global Head of Multi-Asset

Amundi, a global leading Multi-Asset platform


Amundi’s Multi-Asset investment philosophy relies on a holistic approach looking beyond traditional diversification, enabling to partner with our clients to understand their goals, values and constraints and integrate them accordingly.

3 reasons to partner with Amundi Multi-Asset

  • €298 Bn1 in Multi-Asset strategies, covering broad range of solutions
     

  • 150+ dedicated professionals1 with diverse skill-sets,
     

  • 5 Main Hubs: Milan, Paris, Dublin, Munich and Vienna and 5 Local Teams: Hong Kong, Madrid, Prague, Warsaw, Taiwan
     

  • Leveraging on firmwide resources: Research, Investment Experts, Fund Management & Selection, Portfolio Construction

  • Fostering independence of mind-set and idea generation to achieve “Effective Diversification”
     

  • Proprietary risk budgeting framework to efficiently allocate risks
     

  • Combination of fundamental input and proprietary cutting edge models
     

  • Fully embedded ESG criteria

  • 35+ years' experience in advising and managing Multi-Asset portfolios
     

  • €105 Bn1 managed for institutional clients in Multi-Asset Strategies for a diverse client base worldwide including Sovereigns, Pension Funds, Central Banks, Insurance Companies and Corporate
     

  • In-depth understanding of our clients’ regulatory and internal constraints

Amundi’s Multi-Asset Investment Philosophy

Active Management

A Targeting alpha by seeking cross-asset inefficiencies through a robust research driven approach in a multi-scenario framework.

"Effective" Diversification

Combining low-correlated investment strategies through independent idea generation across different time horizons, skill sets and asset classes.

Risk Management

Actively allocation risk backed by our proprietary risk budgeting system.

4 investment pillars, to diversify risk across independent and low-correlated strategies

I - Macro Strategy

To take into account our view of the world, i.e. our central scenario, across many asset classes.

II - Macro Hedging

To protect against risks associated with alternative scenarios.

III - Satellite Strategies

To grasp opportunities from low-correlated ideas across many asset classes.

IV - Selection Strategies

To generate additional alpha through selection of high quality fund and securities.

Outsourced CIO Solutions


Amundi brings its “real world” investment know-how, advisory expertise, robust research resources and advanced tools to help institutional investors addressing their financial and operational complexity. 

OCIO Solutions at Amundi: An ‘A la Carte’ Offer

Amundi’s OCIO offering is modular and complete. We want to be, as an OCIO, along the whole value chain of the client.

Our objective is to perform all the duties of the client’s investment committee/CIO. We can support clients when they design their governance and strategy, when they implement this strategy and all the way until monitoring, and we can help them when they have a duty of board and staff training.

We provide such a complete OCIO offering, as we rely on all the strengths of Amundi. To answer a complex and sophisticated demand from a client, the OCIO is the conductor giving access to Amundi or external experts (Investment Platforms, Manager Selection, Responsible Investing, Alternative & Real Assets, Research, etc.).

Our OCIO’s main objective is to ease our clients’ lives by transforming their challenges into opportunities.

International - Multi-Asset - OCIO solutions

1.Governance & Strategy

  • Investment framework & organization design

  • Asset allocation process design

  • Guidelines definition

  • Strategic, Medium Term Asset Allocations or Benchmark definition

  • Glidepath definition for ALM

2.Overarching Portfolio Management

  • Architecture design and set-up

  • Allocation between growth and liability hedging portfolios for ALM

  • Glidepath management and monitoring for ALM

 

3.Tactical Asset Allocation within an agreed risk budget

4.Portfolio Implementation

  • Through funds: Fund Research & Manager Selection

  • Through securities (direct): via delegation to an Amundi specialist team

  • Through overlay (FX, duration)

5.Monitoring (Risk control & Reporting)

  • Checking compliance with guidelines

  • Consolidated and customized reporting (SCR, ALM, ESG, …)

  • Reporting to board

6.Board & Staff Training

An offer adapted to Institutional Investors' needs and challenges

We have extensive experience in providing OCIO solutions ranging from pure advisory to full investment delegation for various client types, including Pension Funds, Insurance companies, Public entities.

We have been offering OCIO solutions for Crédit Agricole Group companies for more than 30 years and for external clients since 2009.

Our close relationships with these investors provide us an in-depth understanding of the issues they face and the solutions they have adopted.

For each client segment, we have built range of OCIO solutions adapted to their specific needs and challenges

Amundi’s OCIO Offering from pure advisory to full investment delegation

Insurance companies are facing a series of challenges

Insurance companies are facing a series of challenges

International - Multi-Asset - OCIO solutions

Amundi’s OCIO offering along insurance companies’ complete value chain

International - Multi-Asset - OCIO solutions
Pension Funds are facing a series of challenges

Pension Funds are facing a series of challenges

International - Multi-Asset - OCIO solutions

Amundi’s OCIO offering along pension funds’ complete value chain

International - Multi-Asset - OCIO solutions

Public entities are facing a series of challenges

International - Multi-Asset - OCIO solutions

Amundi’s OCIO offering along public entities’ complete value chain

International - Multi-Asset - OCIO solutions

Amundi's Multi-Asset strategies


Amundi offers a comprehensive range of Multi-Asset Strategies, from Allocation Driven to Outcome Oriented strategies aiming to shape and meet our clients’ evolving needs and constraints.

Responsible Investing is in Amundi’s DNA, hence ESG is fully embedded within our Multi-asset process. Our Multi-Asset strategies are  either Mainstream ESG strategies complying with Amundi’s ESG policy or, Responsible Investing strategies relying on a specific ESG investment framework.

Allocation Driven Strategies

Investors have different investment objectives and different views on the amount of risk they are willing to take in achieving them. Amundi’s teams built a range of portfolios that aims to maximise return for a chosen level of risk.

  • Conservative - Low volatility strategy with active management of fixed income risks through dynamic asset allocation, including a limited participation in equities (typically <35%)

  • Moderate - Moderate volatility strategy with active management of market risks through dynamic asset allocation and a moderate allocation to equities (35-65% typically)

  • Growth - Unconstrained investment approach seeking to deliver equity-like returns, with a dynamic allocation process across a diversified range of asset class , with a strong participation in equity markets (typically >65%)

  • Flexible – Unconstrained investment approach with active and flexible allocation across a wide and diversified universe with Equity allocation varying from 0 to 100%. 

  • Factor Investing – allocating dynamically across assets and factors, seeking to capture long-term growth avoiding traditional benchmark bias.

Outcome Oriented

There is an increasing recognition that outcomes matter more to investors than performance versus a particular index or benchmark. Addressing Amundi’s clients long-term goals is possible thanks to these portfolios:

  • Absolute Return, aiming to deliver positive returns regardless of market directions.

  • Income, seeking to provide an attractive income potential higher than traditional bond sectors with lower volatility. 

  • Real Return, seeking to achieve a positive real return across Inflation cycle in the Eurozone. 

  • Target Risk, aiming to protect permanently (fully or partially) capital, through an active and flexible management with an explicit risk target. 

  • Risk Premia: extending the opportunity-set to alternative risk premia, harvesting long term market drivers through a liquid and transparent framework.

Responsible Investing Strategies

Our Multi-Asset Responsible Investing strategies can be either based on a  global sustainable approach, also known as “Multi-Criteria Approach” or focusing on specific sustainable themes such as social impact and  environment.

  • Sustainable strategies

More than 30 years of track-record in managing portfolios based on a high ESG integration, also targeting improved environmental footprint and sustainability profile.

- These strategies offer truly diversified investment solutions across asset classes, through different risk profiles while exhibiting a real exposure to growing trends relying on the environmental and social challenges.

- Our long-term track records exhibit high ratings in terms of performance generation and sustainability profile, buttressing that ESG integration never comes at the cost of performance in our investment approach.

  • Social Impact strategy

An impact investing strategy aiming to deliver measurable impact on social and environmental themes such as Health, Housing, Employment and Sustainable Agriculture, through investments in a selection of non-listed social companies. Our strategy is certified by a French label.

A highly selective and ethical ESG approach: The social block is combined with “core” investments in a selection of ESG leaders companies in their sectors and excludes controversial activities such as those related to weaponry, coal, tobacco, etc.

An innovative sharing concept: In addition to the classical capitalization shares, our funds propose sharing shares allowing the investors to donate a part of their annual revenues to the organization of their choice.

  • Environmental strategy

- An approach to support the efforts of developing countries in responding to the challenge of climate change. The Paris agreement has made climate action a global commitment to keep global temperature increases well below 2°C above pre-industrial levels.

- A strategy positioned to capture long-term sustainable economic trends, primarily through equities and to invest in future growth drivers (Energy efficiency, water management, disruption, companies with low CO2 emissions and green tech companies).

A strategy aligned with several UN SDG’s, and with strong commitment regarding low carbon emission investments.

 Source: Amundi, as of September 2021.

This information is exclusively intended for “Professional” investors within the meaning of the MiFID Directive 2004/39/EC of 21 April 2004, and articles 314-4 and following of the General Regulations of the AMF. It is not intended for the general public or for non-professional individual investors within the meaning of all local regulations, or for “US Persons”, as defined in the Securities and Exchange Commission’s “Regulation S” under the 1933 U.S. Securities Act.

This non-contractual information does not under any circumstances constitute an offer to buy, a solicitation to sell, or advice to invest in financial instruments of Amundi or one of its affiliates (“Amundi”).

Investing involves risks. The performance of the strategies is not guaranteed. In addition, past performance is not in any way a guarantee or a reliable indicator of current or future performance. Investors may lose all or part of the capital originally invested.

Potential investors are encouraged to consult a professional adviser in order to determine whether such an investment is suitable for their profile and must not base their investment decisions solely on the information contained in this document.

Amundi assumes no liability, either direct or indirect, resulting from the use of any of the information contained in this document, and shall not under any circumstances be held liable for any decisions taken on the basis of this information.

This information may not be copied, reproduced, modified, translated or distributed, without the prior written approval of Amundi, for any third person or entity in any country or jurisdiction which would subject Amundi or any of its products to any registration requirements within these jurisdictions or where this might be considered unlawful. This information is provided to you based on sources that Amundi considers to be reliable, and it may be modified without prior warning.

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