Silicon Valley Bank Updates

   

Amundi’s total exposure to Silicon Valley Bank (SVB), Signature Bank and Silvergate Bank assets was already negligible before SVB’s collapse: 0.003% of its global assets under management as of March 8, 2023. 

Amundi US Advisory: Portfolio exposure of Pioneer Mutual Funds to SVB Financial Group, Signature Bank and Silvergate Capital Corp.
Pioneer Open-Ended Mutual Funds           Pioneer Variable Contract Trusts

   

Latest On-Demand Updates

Webinar | Recorded March 22, 2023

Global Banking, Central Banks & the Economy: What Happens Next? 

In this video, Vincent Mortier, Group Chief Investment Officer; Ken Taubes, Chief Investment Officer, US; and Paresh Upadhyaya, Director of Currency Strategy and & Portfolio Manager, discuss the US Federal Reserve’s March rate decision and broader issues in the banking system and economy.

Video | Recorded March 16, 2023

Conversation with Lisa Jones, CEO, and Ken Taubes, CIO 

In this video, Lisa Jones, CEO of Amundi US, discusses with Ken Taubes, CIO of Amundi US, the economic implications of the Silicon Valley Bank collapse, the response of the US Federal Reserve, and the possibility of a hard economic landing ahead.

 Latest Research and Insights

Keep checking back for our latest news and updates on Silicon Valley Bank

A global assessment
03/21/2023 Investment Talks

A Global Assessment of the Implications of Recent Banking Sector Developments

In the US, the credit crunch, which is already starting to materialize, will impact growth and will determine how pronounced the recession will be. Amid a weaker economic outlook, the market is reassessing central banks' actions. European banks' earnings growth will still be positive, just less so than previously thought. Concerns about credit crunches in Europe appear excessive amid the strong liquidity profile and capital position of European banks. While we already started the year with a cautious stance in risky assets, we have become increasingly prudent in credit high yield. We have also become more constructive on US duration, as it has started to work again as a diversifier of risk in periods of turmoil.

Credit Suisse - Investment Talks
03/16/2023 Investment Talks

European Banking Sector Set to Withstand Credit Suisse Fragility

In our view, the European bank sell-off is mainly driven by profit-taking and a reassessment of recessionary risks, which is not supportive for the profitability of the sector. In the case of a further escalation in this crisis, we expect the majority of the counterparty exposures to be collateralized, so we do not expect material losses from a potential resolution or wind down. The sector is well-capitalized and liquid and we don't see any other specific instances that pose large risks to other banking stocks. It will be important to monitor liquidity and deposit flows for the sector over the coming periods.

Important Information

Unless otherwise stated, all information contained in this document is from Amundi Asset Management US (Amundi US). Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi US and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results. Amundi Asset Management US is the US business of the Amundi Asset Management group of companies.

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our  literature section.

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