Amundi Asset Management

2019 Top 400 ranking: 9http://www.amundi.com

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Amundi 

Cross Asset Investment Strategy - January 2019

Investors are facing an unsettled environment. For 2019 we think it will be key to look at three areas:

1. From economic deceleration to where? 

2. Fed pausing or continuing rate rises?

3. EMs: perfect storm or a recovery story?

All in all we believe that global risk is still asymmetric as the process of repricing growth expectations and the related adjustments of risk premia unfolds, leading to a restoration of value across the board. Still, this restoration of value and the progressive positive alignment of planets (milder path on US rates, peak in the dollar, slower US growth) bodes well for progressive exposure to EMs.

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Head Office
90, boulevard Pasteur
Paris
75015
France
Company website:
http://www.amundi.com
Year Founded:
2010
No. of investment offices worldwide:
6

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What’s new

  • Factor Investing In Currency Markets: Does It Make Sense?

    Factor Investing In Currency Markets: Does It Make Sense?

    White papersMon, 24 Jun 2019

    The concept of factor investing emerged at the end of the 2000s and has completely changed the landscape of equity investing. Today, institutional investors structure their strategic asset allocation around five risk factors: size, value, low beta, momentum and quality.

  • Three Themes For European Equities To Be Back In Focus

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    White papersFri, 21 Jun 2019

    Volatility is here to stay. Markets are hostages of very volatile news flow. Trade-related anxiety is driving the swing (pessimism of a broken deal between China and US led to a correction in May while the renewed hope of a partial deal brought equity markets back to yearly highs in June).

  • Investing in the changing shape of Emerging Markets

    Investing in the changing shape of Emerging Markets

    White papersTue, 18 Jun 2019

    The emerging markets (EM) universe has experienced significant changes in the last decade with the further addition of investible countries (ie China A shares in 2018), the surge in the size of EM bond markets and the further development of the local currency bond markets.

  • Pricing Individual Stock Options Using Both Stock And Market Index Information

    Pricing Individual Stock Options Using Both Stock And Market Index Information

    White papersTue, 18 Jun 2019

    When it comes to individual stock option pricing, most applications consider a univariate framework. From a theoretical point of view this is unsatisfactory as we know that the expected return of any asset is closely related to the exposure to the market risk factors. 

  • Variance Premium, Downside Risk, And Expected Stock Returns

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    White papersMon, 17 Jun 2019

    We decompose total variance into its bad and good components and measure the premia associated with their fluctuations using stock and option data from a large cross-section of firms. The total variance risk premium (VRP) represents the premium paid to insure against fluctuations in bad variance (called bad VRP), net of the premium received to compensate for fluctuations in good variance (called good VRP). 

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