Completion of Pioneer Investments’ integration

Paris, Friday 05 April 2019

Corporate

Amundi announces the completion of the Pioneer Investments’ integration with the merger of its three Luxembourg flagship vehicles:

  • Amundi Funds,
  • Amundi Funds II (ex Pioneer Funds)
  • and Amundi Sicav II (ex Sicav feeding Pioneer Funds).

This is the last phase of the Pioneer integration, the closing of which was announced on July 3, 2017.

The main objective of this rationalisation is to simplify the offer of Luxembourg funds for both retail and institutional clients by retaining only the best performing funds from these Sicavs. The selection will take into account not only the performance, fund size and characteristics, but also client requirements and potential demand.

At the end of June, this rationalisation will create a single Luxembourg umbrella Sicav, Amundi Funds, with around 90 sub-funds - compared with more than 150 initially with the three Sicavs - and whose total assets under management will reach nearly €90 billion.

This merger of the Luxembourg SICAVs of Amundi and Pioneer completes the integration of Pioneer Investments in record time. It will provide our clients with a complete range of funds that bring together the best of the group's expertise, which the acquisition of Pioneer has strengthened.

Fathi Jerfel, Head of Retail Clients Division at Amundi

In order to help its clients, Amundi has set up a simple tool on all its websites to identify the new ISIN codes of recently merged funds.