AMUNDI Press release
Amundi brings investors a focus on US mid cap equities with Amundi Funds Wells Fargo US Mid CapLondon, 6th June 2017 - Amundi, the leading European asset manager with EUR 1.1 trillion in assets1, offers investors exposure to US domestic growth potential with Amundi Funds Wells Fargo US Mid Cap, a sub-fund of its Luxembourg flagship SICAV. This sub-fund, formerly Amundi Funds Equity US Concentrated Core2, aims to achieve long-term capital growth, and specifically to outperform (after applicable fees) the MSCI USA Mid Cap index over any given 5-year period3.
Mid Cap stocks - an interesting asset class with long term structural benefitsWhen investing in equities, investors typically think of large cap securities. These securities offer a highly diversified investment universe covering a wide variety of sectors and industries comprising companies that are household names, the stocks of which are liquid and familiar to investors. Mid cap stocks, are by contrast, often overlooked by investors. The company names may be less familiar but they are no less a source of opportunity for performance3.
Factors inherent to mid-cap value stocks, such as their cap size, involvement in M&A activity, and value characteristics, contribute to the consistent outperformance enjoyed by mid-cap value stocks over the long term. Midcaps are in the ―sweet spot‖ of the company life cycle. Compared with small-cap companies, midcaps may have the critical size required to endure poor economic or business developments and have survived the high-risk proof-of-concept phase. Yet, compared with large caps, they have the potential to grow shareholder value at a relatively higher rate. Midcaps are often prime acquisition targets for other companies seeking growth, which can also be a source of value creation and performance.
An experienced investment team with a strong track recordAmundi Funds Wells Fargo US Mid Cap is managed by Wells Fargo Asset Management's Special Equity team, with a collective experience of over 35 years, supported by 11 research dedicated analysts4. The investment strategy benefits from a strong track record, and the team manages more than USD 10bn today2.
The sub-fund is managed in line with the Wells Fargo US mid cap value strategy, which has an well- established 15-year track record. Its gross annualized performance for 1-, 3- and 5-year returns is 21.1%, 10.3%, 16.2% respectively5.
The investment team actively manages the sub-fund's portfolio3 by using a fundamental analysis (bottom- up) that aims to select the most attractive equities of cash rich companies having undervalued assets or growth potential and limited downside risk. The resulting portfolio is comprised of 50 to 70 equities. As the fund is invested in mid cap companies, which derive 85% of income from the US domestic market6.
Source: Amundi as at 31/03/2017. No.1 European asset manager based on global assets under management (AUM) and the main headquarters being based in Continental Europe - Source IPE ―Top 400 asset managers‖ published in June 2016 and based on AUM as at December 2015.‖
Amundi Funds Equity US Concentrated Core, managed by TCW Investment Management Company, benchmark Russell 1000 Growth (Total Return) until May 3, 2017.
The Sub-Fund does not offer a performance or capital guarantee. For further details on the risks linked to this sub-fund, please refer to the Key Investor Information Document (KIID) and the Prospectus of Amundi Funds.
Source: Wells Fargo Asset Management as at 31/03/2017.
Source: Wells Fargo Asset Management as at 30 April 2017. Performance figure provided for indicative purposes only. Past performance is not indicative of future returns. Note: Figures GIPS® compliant.
Past market trends are not indicative of future market behaviour.
Amundi-Wells Fargo partnershipFollowing a strict selection process, Amundi has chosen Wells Fargo Asset Management in a unique co- branding initiative between the two fund houses. Wells Fargo Asset Management brings its expertise in US mid cap investment with a long track record and consistent performance which is highly complementary to Amundi ‗s fund offering and global distribution with local reach across Europe and Asia.
Christian Pellis, Global Head of Distribution, comments ―Amundi Funds Wells Fargo US Mid Cap responds demand among our investors for opportunities to capture performance in the US domestic market. For many investors, US mid-caps can complement large cap investment as part of their asset allocation.‖
Bryant VanCronkhite, Co-Team Leader of the fund at Wells Fargo Asset Management, adds ―We are excited to be partnering with Amundi to offer our unique accounting-based investment philosophy and process for investing in US Mid Cap stocks. We've found this niche to provide exceptional risk-adjusted returns in the past and believe we have more of the same ahead of us.‖
Key Information: Amundi Funds Wells Fargo US Mid CapShare class
AU
Management company
Amundi Luxembourg S.A.
Delegated Investment Manager
Wells Fargo Asset Management
Custodian
Caceis Bank Luxembourg Branch
Reference currency
USD
Dividend policy
Accumulation/Distribution
ISIN code
LU0568602667 (C) LU0568602741 (D)
Minimum initial subscription
None
NAV calculation frequency
Daily
Cut-off for receiving orders1
Each trading day before 14:00, Luxembourg time
Max. management fees
1.70%
Administration fees
0.40%
Estimated annual ongoing charges
2.20% of the average net assets
Maximum entry charges
4.50%
Maximum switching charges
1.00%
Exit charges
None
Performance fees3
20%
This document is provided in addition to the Key Investor Information Document (KIID) and should be understood in light of the latter.
Or, where appropriate, at the time set by the local distributor concerned.
These charges correspond to the maximum management charges incurred by the fund through investment in other funds or sub-funds.
Reference for performance fee: MSCI USA Mid Cap (Russell 1000 Growth (Total Return) until May 3, 2017) index. Fee applies only to share class performance that exceeds this reference.
Performance fee measurement period: 1 years period from 1 Jun - 31 May. Until May 3, 2017, the sub-fund [applied/applies] the 1/3 year(s) period from 1 Jul - 30 Jun. The first 1 year period will end on May 31, 2018.
Ongoing charges as of 3 May 2017.
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For further details on fees, please refer to Amundi Funds prospectus
KIID main risks
Concentration, market risk, credit risk, currency risk, liquidity risk, counterparty risk
Risk and yield profile KIID risk
Risk/Reward Profile (SRRI)
1 = Lower risk, potentially lower return 7= Higher risk, potentially higher return
The SRRI corresponds to the risk/reward profile shown in the Key Investor Information Document (KIID). The lowest category does not mean ―risk-free‖. The SRRI is not guaranteed and may vary over time.
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This key investor information is accurate at 3 May 2017.
This document is solely for the attention of journalists and professionals of the press/media sector. The information contained in this document is given solely in order to provide journalists and professionals of the press/media sector with an overview of Amundi's investment management strategy and the use of same falls within their sole editorial independence, for which Amundi assumes no responsibility. This document is not intended for citizens or residents of the United States of America or to any "U.S. Person", as this term is defined in SEC Regulation S under the U.S. Securities Act of 1933 and in the Prospectus of the Fund. The « US Person » definition is provided in the legal mentions of our website www.amundi.com .
The present document goes with the Key Investor Information Document (KIID) of Amundi Funds Wells Fargo US Mid Cap and the Amundi Funds Prospectus both available from Amundi Luxembourg S.A.
This document contains information about Amundi Funds Wells Fargo US Mid Cap ("the sub-fund") , a sub-fund of Amundi Funds, a collective investment in transferable securities established under Part I of the Luxembourg law of December 17, 2010 as a SICAV, registered with the Luxembourg Trade and Companies Register under number B 68.806 (the "SICAV"). The SICAV is headquartered at 5 Allée Scheffer, L-2520 Luxembourg. The SICAV has been authorized for marketing to the general public by the Supervisory Commission of the Financial Sector in Luxembourg. The Fund was authorized for public distribution in Luxembourg by the Commission of Financial Supervision on 1st June 2016. The fund is a recognised collective investment scheme under S.264 of the United Kingdom Financial Services & Markets Act 2000.
Investment involves risk. Past performance do not guarantee future results, nor are they reliable indicators of future performances. The value of an investment may go down as well as up. The Sub-Fund does not offer a performance guarantee Therefore, investors may lose part of their initial capital invested. Any investor should seek the advice of its legal and/or tax counsel or its financial advisor prior to any investment decision in order to determine the suitability of any investment before making any commitment or investment and should not only consider this material alone to make investment decisions.
Amundi Funds official documents, the latest full Prospectus (not translated in French ) and / or the key information document for the investor ( KIID) of the Sub-fund , the latest annual and semi-annual reports and statutes may be obtained free at Amundi Funds headquarters (90 Boulevard Pasteur 45015 Paris ) or on the sites of Amundi.com.
Amundi Asset Management accepts no responsibility, directly or indirectly, that may result from the information contained herein. Amundi Asset Management can in no way be held responsible for any decision taken on the basis of information contained herein. This non-binding document is based on sources we consider reliable.
The information in this document is valid in May 2017 and may be modified subsequently without notice. The information in this document does not constitute any recommendation, offer solicitation or an offer purchase, sales, marketing, investment advice or arbitration shares of a UCITS presented and should in no be construed as such.
This document has not been reviewed by any regulatory authority. No regulatory authority will take the responsibility of financial accuracy or any provision or views expressed in this document. This document shall not be distributed without the prior written consent of Amundi Asset Management or any third person in any country where such distribution or use would be contrary to legal and regulatory requirements or require Amundi Asset Management or its products comply with registration requirements with the supervisory authorities in those countries; it cannot be distributed to "US persons" as defined under the US Securities Act of 1933.
Promotional & non-contractual Information which should not in any way be regarded as investment advice, an investment recommendation, a solicitation of an investment offer, or a purchase of any financial securities.
This document is being issued inside the United Kingdom by Amundi Asset Management, with a share capital of EUR 746 262 615, Registered office : 90 boulevard Pasteur 75015 Paris France - 437 574 452 RCS Paris - which is authorised by the AMF under number GP04000036 and subject to limited regulation by the Financial Conduct Authority for the conduct of investment business in the UK under number 401883 with its registered office at 41 Lothbury, London EC2R 7HF. Details about the extent of our regulation by the Financial Conduct Authority are available from us on request.
About AmundiPublicly traded since November 2015, Amundi is the largest European Asset Manager in terms of AUM(*), with over €1.1 trillion worldwide. Headquartered in Paris, France, Amundi has seven investment hubs located in the world's key financial centres, and offers a combination of research depth and market experience that has earned the confidence of its clients.
Amundi is the trusted partner of 100 million retail clients, 1,000 institutional clients and 1,000 distributors in more than 30 countries, and designs innovative, high-performing products and services for these types of
clients tailored specifically to their needs and risk profile**. Go to amundi.com for more information or to find an Amundi office near you.
Go to http://www.amundi.com for more information. Follow us on :
*Amundi figures as of 31 March 2017. (*) No.1 European asset manager based on global assets under management (AUM) and the main headquarters being based in Continental Europe - Source IPE "Top 400 asset managers" published in June 2016 and based on AUM as at December 2015. ** Amundi May 2017.
About Wells Fargo Asset ManagementWells Fargo Asset Management, a division of Wells Fargo Wealth and Investment Management, strives to help clients achieve their financial goals through top-tier investment options managed by specialized investment teams that are supported by independent risk management and backed by superior, collaborative service. With more than $482 billion in assets under management-as of December 31, 2016-Wells Fargo Asset Management has 29 autonomous investment teams with specialized expertise and proven processes; more than 500 investment professionals; and a global reach with offices and clients around the world.
https://wellsfargoassetmanagement.com
Source: Wells Fargo Asset Management, May 2017.
Press contacts:
Amundi Natacha SharpTel. +33 1 76 37 86 05
natacha.sharp@amundi.com
Maitland William ClutterbuckTel: +44 (0) 207 379 5151
wclutterbuck@maitland.co.uk
Amundi SA published this content on 06 June 2017 and is solely responsible for the information contained herein.
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