Amundi is Europe’s largest asset manager by assets under management and ranks in the top 10 1 globally. Following the integration of Pioneer Investments, it now manages €1.475trn of assets2 across six investment hubs based in 37 countries. In 2016, Amundi launched a platform dedicated to real and alternative assets to provide easier access to unlisted investments. Bringing together capabilities in real estate, private debt, private equity, and infrastructure (green energy), this platform has a headcount of 200 people and assets under management of €43.2bn2, and offers solutions through direct funds, club deals, and multi-management, including two innovative partnerships with EDF and CEA.
As part of this new platform, Amundi Real Estate is a company specialized in developing, structuring and managing European focus property funds. With over €29bn 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 2018), and is part of the Top 3 Asset Managers for offices in Europe (IPE – December 2017). 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, starting with a thorough analysis of each European market dynamics, an extensive asset sourcing capabilities, and followed by a stringent asset selection. Those quality assets are then financed and actively managed to extract value and deliver the expected level of performance to investors.
1 Source IPE “Top 400 asset managers” published in June 2018 and based on AUM as of 31 March 2018. 2 Amundi figures as of 30 September 2018.
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 allocations 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 decisions, 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 over €2bn 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 leads us 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, coinvestments, and dedicated or closed funds.
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 IPE Real Assets
Deal to take Amundi’s assets under management close to €20bn
Transaction marks largest single-asset deal in Netherlands
Primonial REIM leads group looking to close deal by mid-2016
Amundi advises French company as it becomes first non-Dutch investor
Sale of 17 office assets due to close by year-end
White Papers / Research from Amundi Real Estate
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
More people are on the move than ever before. For institutional investors this means opportunities from airport infrastructure to hotels, writes Christopher O’Dea
Development and regeneration initiatives in Rotterdam are boosting the city’s image and creating new opportunities for investors, says Russell Handy
Stability, good growth prospects and a strong economy ensure that real estate investors continue to flock to the city, says Russell Handy
ERAFP has only started to build its real estate exposure, but the French pension fund is ambitious, especially when it comes to sustainability. Rachel Fixsen reports