Legal documentation

The European Shareholder Rights Directive 2 requires asset managers to disclose publicly their engagement and voting policy. For several years, Amundi has choose to share these policies on its website with its investors. You will find below all the documents covering the Directive’s requirements.

Amundi’s engagement policy is articulated around three main axes: engagement for influence, ongoing engagement and engagement through voting. It is an essential part of Amundi’s fiduciary duty and its role as responsible investor.

The monitoring of the investee companies is organized as follows, depending on the management platform concerned:

• For active management strategy: investment cases are discussed and documented by the equity research analysts. Buy rated stocks are followed based on frequent research updates. The investment case is based on the Research team company report, supported by Valuation & Model updates when required. Feedback of meetings with the Company, as other engagement actions by the Research team, are documented diligently
• For passive management strategy: monitoring is mainly done through the engagement and the voting at general meetings.
• For Private Equity: for investments in companies not listed on a  regulated market, the managers in charge of the participation on behalf of the portfolios, actively monitor the investee companies and usually attend general assemblies. These votes are confidential and therefore cannot be publicly reported.

Information relating to the European Shareholder Rights Directive 2 is presented in the documents below and in the dedicated section "Voting policy".

The exercise of voting rights and shareholder dialogue are essential elements of our fiduciary responsibility and our role as a responsible investor.

From 1996 onwards, Amundi established its own voting policy updated yearly in order to incorporate the best practices in corporate governance but also, since 2003, in social and environmental responsibility. Amundi decided to exercise the voting rights for a very large majority of its funds under French and Luxembourg law in order to fulfill its responsibility as a shareholder. 
Early in its commitment toward responsible investment, Amundi also implemented a shareholder dialogue process based on an alert system informing companies of the SBF120 index and a group of large European issuers of potential negative votes at their general meetings. 
Voting and dialogue allow us to actively participate in the improvement of the practices of companies in which we invest.

The "guidelines on ETFs and other UCITS issues", published by the ESMA on December 18th 2013, came into force on February 18th 2013.

You'll find below the policy that applies to funds subject to these guidelines in terms of financial guarantees.

Here below are the Group Remuneration Policy compliant with AIFM and OPCVM Directives, as well as its CRDV and IFR / IFD addendum:

Summary of Investors rights pursuant to art. 4(3) of the Cross-Border Fund Distribution Regulation

Consult this document to find out how to approach Amundi and its subsidiaries as part of a market sounding or a pre-IPO operation. Carrying out such operations may lead to the disclosure of privileged information and as such a specific process must be followed.