Amundi is Europe’s largest asset manager by assets under management and ranks in the top 10 1 globally. With 4,500 professionals based in 37 countries, it now manages €1.563trn of assets2 across six investment hubs. Headquartered in Paris, Amundi was listed in November 2015. In 2016, Amundi launched a Platform of Alternative & Real Assets (PARA) to provide easier access to unlisted investments. Bringing together capabilities in real estate, private debt, private equity, and infrastructure, PARA has a headcount of 200 specialists and assets under management of €49bn2, and offers solutions through direct funds, club deals, and multi-management, including two innovative partnerships with EDF and CEA.
As part of PARA, Amundi Real Estate is a company specialised in developing, structuring and managing European focus property funds. With over €35bn of assets under management2, the firm is N°1 in France in terms of fundraising and assets under management for SCPI and retail OPCI (IEIF – March 2019), and is part of the Top 3 Asset Managers for offices in Europe (IPE – December 2018). Amundi Real Estate is an authorised management company active in France, Germany, Italy, UK, Benelux, Czech Republic and Austria. The team designed a robust investment process in which an SRI policy is embedded at each stage: starting with a thorough analysis of European markets’ dynamics, supported by extensive asset sourcing capabilities, and followed by a stringent asset selection. Properties are then actively managed throughout the lifespan of the investment to create value and alpha.
1 Source IPE “Top 400 asset managers” published in June 2019 and based on AUM as of 31 December 2018.
2 Amundi figures as of 30 September 2019.
Investment principles & strategy
Three main principles define our investment philosophy to meet your expectations:
1) Fund allocation driven by multi-disciplinary research: To forge its market opinions, Amundi Real Estate has developed an internal research capacity specialised in French and European real estate markets. Amundi Real Estate also benefits from Credit Agricole group’s macro-economic and fundamental research as well as the investment strategy models produced by the Amundi group. This multi-disciplinary research contributes to suggest strategic alloca- tions and to define return/risk profiles for existing and new funds.
2) Strong expertise in a structured investment process: Our asset management teams are structured by real estate sector, developing a very sharp specialisation in their area of activity. Clear, solid and formalised management processes and working procedures frame our management actions in order to avoid operational risk and conflicts of interest. With this management approach, thematic committees have been created to validate and agree each decision at each step of the process and favour confrontation of opinions.
3) Strict risk control: We are pragmatic and prudent in our investment deci- sions, and nurture a strong risk management culture. In addition to systematic risk controls, independent internal risk managers ensure compliance with regulatory constraints and the risk limits defined by each investor and for each product.
Strategic corporate development
Amundi Real Estate is a true expert in the origination of property assets in France and all major European cities. Our pan-European diversification strategy for property management relies on over 40 years of technical expertise and on local partnerships with experts in each country. We are thus able to build the local ecosystems we need for the acquisition and management of our property assets. European real estate markets are diverse enough to provide opportunities that depend upon the economic situation, perspectives, and major unexpected events that could occur in each country. With its fundraising power, Amundi has the ability to take part in Europe’s major real estate transactions, with €3bn invested every year on average. Around 50% of these investments are carried out in France, while the other half is split between a select number of European countries and major cities: Germany (Berlin), the United Kingdom (London), Italy (Milan), the Czech Republic (Prague), the Netherlands (Amsterdam) and Luxembourg. Office buildings represent over 75% of our assets under management, but our diversification strategy leadsus to cover all segments of the real estate market, from hotels to commercial buildings and supportive housing.
Our institutional clients favour our ability to provide them with easy access to the best real estate assets in France and in Europe’s major cities – Berlin, London, Amsterdam, Milan, Prague. This can be done through club deals, co- investments, and dedicated or closed funds.
Amundi Real Estate (corporate name: Amundi Immobilier) is approved by the French Securities Authority (Autorité des Marchés Financiers – “AMF”) under No. GP 07000033 and therefore follows its performance verification standards.
These materials are provided for use by qualified institutional investors for informational purposes only and are not intended as solicitations of investment business. The information and opinions are based upon sources that are considered to be reliable, but no representation or warranty is made as to their completeness or accuracy. Past performance is not necessarily a guide to future performance. Further information is available on request. Amundi Immobilier is approved by the French Securities Authority Autorité des Marchés Financiers – “AMF”) under No. GP 07000033.
News from Amundi Real Estate
A specialist in private markets and real assets in Europe
Let’s place your savings where Europe offers its best real-estate opportunities.
As a pioneer in Responsible Investing, Amundi has made social and environmental engagement one of its fundamental pillars since its inception. In October 2018, it announced an ambitious plan to expand its engagement to encompass responsible investing.
News from IPE Real Assets
Finnish investor buys office property in Frankfurt
Principal European Office Fund bought the property located at Via Giovanni Battista Pirelli 18 for €34m
Ambroise Fayolle says EIB is lagging its climate-change related investment targets
Amundi’s alternative and real assets platform already manages a €300m segregated mandate
The consortium will buy 55% stake in AccorInvest for €4.4bn
White Papers / Research from Amundi Real Estate
Building on its strong fundraising capacities and its experience of real estate investment products for French retail clients, Amundi is now focusing on strengthening its offering for institutional investors and working on the pan-European distribution of a retail solution. These funds, which express the firm’s strongest convictions, are uniquely structured and distributed, as Jean-Marc Coly, Chief Executive Officer for Amundi Real Estate explains.
Real Estate investment in Europe is currently supported by 3 key-factors : economic recovery, the small but expected rise in interest rates, and inflation estimated to 1-1.5%. Return, stability of valuations and inflation-hedge: real estate is more than ever an attractive investment in the current environment.
Over the last few years, the European real estate market has been characterized by diversity. Today, however, it seems to be significantly evolving. Real estate rates of return are converging downwards in the main EU countries, which causes worry among investors seeking at least consistent levels of performance. To cope with this convergence, with the pressure on rents and with the prospect of a hike in interest rates, Amundi is convinced one needs to go back to the fundamentals of ...
Real assets help achieving different needs through diversification, from inflation hedge, volatility dampener, to substitute to fixed income. We believe the macro economic and financial conditions appear very favourable to real assets in 2018.
Analysis from IPE Real Assets
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