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 nearly 40 countries, it now manages more than €1.6trn of assets2 across six investment hubs. Headquartered in Paris, Amundi was created in 2010 and listed on the French stock exchange in 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 220 specialists and assets under management of €55.9bn2.
As part of PARA, Amundi Real Estate is a company specialised in developing, structuring and managing European focus property funds. With €39.8bn of assets under management2, the firm is number one in France in terms of fundraising and assets under management for SCPI and retail OPCI (IEIF – March 2020), and is part of the Top 5 Asset Managers for offices in Europe (IPE – December 2019). 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. Amundi Real Estate is an authorised management company active in France, Germany, Italy, UK, Benelux, Czech Republic and Austria. Drawing on 40-year track record, Amundi RE manages all types of investment solutions for its French and European clients: club deals, co-investments, dedicated mandates, and closed-ended or open-ended funds.
1 Source IPE “Top 500 asset managers” published in June 2020 and based on AUM as of 31 December 2019.
2 Amundi figures as of 30 September 2020.
Investment principles & strategy
We designed a robust investment process in which a 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. Three main principles define our investment philosophy:
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 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 leading player in originating, developing and manag- ing property assets in France and all major European cities for 40 years. Our pan-European diversification strategy relies on local partnerships with the best experts in each country. This partnership strategy gives us the nimbleness to create the local ecosystems we need for acquiring, developing and managing our property assets all over Europe. 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. More than ever, we are targeting core assets, which allow us to forestall the destruction of value and performance in times of crisis. We should be able to boost performance by focusing on development strategies, which benefit from a risk premium that is 100–200 basis points higher. We call this strategy ‘manage to core’. We aim to transform existing buildings into core ESG assets that comply with the highest environmental and energy consumption standards, avoiding commercialisation risks.
We benefit from a diversified client base made up of both retail and institu- tional investors. They value our ability to give them access to the best real estate assets in France (Paris, Lyon, Marseille, …) and over all major European cities: London, Berlin, Amsterdam, Prague, Milan.
Drawing on its 40-year track record, Amundi RE manages all types of investment solutions for its French and European clients: club deals, co-investments, dedicated mandates, and closed-ended or open-ended 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 informa- tional 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.
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