Amundi launches Amundi funds Wells Fargo US mid cap
Amundi offered 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 Core, 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 period.
Amundi 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 analysts. The investment strategy benefits from a strong track record, and the team manages more than $10bn today.
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 annualised performance for 1-, 3- and 5-year returns is 21.1%, 10.3%, 16.2% respectively.
The investment team actively manages the sub-fund‘s portfolio 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 market.
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, commented, “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, added, “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.”