Amundi Asset Management

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

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Amundi

Our Convictions: February 2017

The election of D. Trump to the presidency of the United States had several major consequences on the financial markets:

• Firstly, a repricing of growth prospects, inflation expectations, and a clear rise in bond yields, which is particularly significant in an environment previously determined by debates on secular stagnation and on the end of inflation. The question is whether this repricing is justified in the short term only or in the long term too. In short, are we seeing an extension of the current cycle of growth (which was slowing down) or rather at the very beginning of a new breath and a new cycle of growth?

• Moreover, in a world dominated by accommodative monetary policies and reinforcing the growth policies desired by the governments, strong tensions emerged between the new US administration and the Fed on the conduct of monetary policy first, and most recently on the current (deemed “unacceptable”) role of the Fed in regulation (including banking). Apart from the fact that Janet Yellen will probably not be re-appointed to her position in 2018, we can expect the rising tensions between Fed and Administration Trump, which will add volatility to the markets.

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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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  • Greening Fixed Income markets: a challenge of today and tomorrow

    Greening Fixed Income markets: a challenge of today and tomorrow

    White papersMon, 4 Nov 2019

    Policymakers around the world continue to implement comprehensive strategies to foster sustainable finance.

  • Trump Impeachment Is Likely, But Impact On Financial Markets Would Be Short-Lived

    Trump Impeachment Is Likely, But Impact On Financial Markets Would Be Short-Lived

    White papersFri, 11 Oct 2019

    Impeachment process: The Democratic Party has announced the opening of an impeachment inquiry against President Donald Trump following revelations that he pushed Ukrainian President Volodymyr Zelenskiy to investigate the son of Democratic opponent Joe Biden. The impeachment process is long and articulated. An 80% probability that Trump will be impeached, followed by acquittal in the Senate, which would keep him in office for the remainder of his term, is our base case scenario.

  • Cross Asset Investment Strategy - October 2019

    Cross Asset Investment Strategy - October 2019

    White papersThu, 3 Oct 2019

    Over the past few weeks markets have fluctuated between positive news around geopolitics (US-China trade talks, Italy and receding risks of no-deal Brexit) and not so good news around economic data (German recession, US manufacturing and Chinese slowdown). This led to a rebound in equities and a rise in core bond yields.

  • Machine Learning Optimization Algorithms & Portfolio Allocation

    Machine Learning Optimization Algorithms & Portfolio Allocation

    White papersWed, 2 Oct 2019

    Portfolio optimization emerged with the seminal paper of Markowitz (1952). The original mean-variance framework is appealing because it is very efficient from a computational point of view. However, it also has one well-established failing since it can lead to portfolios that are not optimal from a financial point of view (Michaud, 1989). Nevertheless, very few models have succeeded in providing a real alternative solution to the Markowitz model.

  • Despite the rise of cross-border distribution, domestic funds continue to have a bright future

    Despite the rise of cross-border distribution, domestic funds continue to have a bright future

    White papersTue, 1 Oct 2019

    Unabated support and growth in Cross Border funds Cross-border funds offer many advantages for investors and fund sponsors alike; most importantly, they enable all consumers to benefit from greater choice at a lower cost. Originally designed as retail investment products and benefiting from a passport for distribution throughout the EU, UCITS are now sold globally both to the public and to institutional investors.

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