Amundi fund merger sees range reduce from 150 to 90 amid Pioneer integraton

Affects €90bn of assets

Amundi is set to consolidate 150 sub-funds into a streamlined range of 90 vehicles sitting under one Luxembourg SICAV, as it completes the integration of Pioneer Investments.

UniCredit sold Pioneer Investments to Amundi for €3.5bn in December 2016 to create the eighth largest asset manager in the world at the time. In a statement released this morning, Amundi said to complete the integration of Pioneer Investments' strategies into Amundi's own mandates it will merge three Luxembourg flagship vehicles: Amundi Funds, Amundi Funds II (formerly Pioneer Funds) and Amundi SICAV II (fomerly SICAV feeding Pioneer funds).  These will be rationalised to create a singe Luxembourg SICAV, Amundi funds, housing assets of around €90bn. As a result, the number of sub-f...