BAWAG P.S.K. today announces the closing of its sale of BAWAG P.S.K. INVEST to Amundi Asset Management (Amundi). BAWAG P.S.K. INVEST (INVEST) becomes wholly owned asset management subsidiary of Amundi with a total of EUR 5.0 billion of assets under management as of 31st December 2014. The company’s name will remain BAWAG P.S.K.INVEST, with the reference “A Member of the Amundi Group”.
Parallel to this, Amundi and BAWAG P.S.K. entered into a long-term partnership where BAWAG P.S.K. will distribute Amundi’s funds and continue to distribute INVEST products via its physical and digital distribution networks. BAWAG P.S.K. has the largest centrally managed branch network with 500 branches across Austria.
Amundi will become the bank’s preferred partner with teams already familiar with the local market, in line with the strategy already adopted with KB in the Czech Republic and with Crédit Agricole Polska in Poland.
With this new strategic partnership, Amundi is taking yet another step to strengthen its leadership in Europe and therefore to implement its strategic development plan.
BAWAG PSK Invest figures
Assets under management at December 31st, 2014: €5 billion
Number of funds: 78
Breakdown of assets by client type: 63% retail , 37% institutional
Breakdown of assets by asset class: 62% Fixed Income, 28% Balanced, 9% Equities, 1% Money Market