Goldman Sachs and Amundi strike alt-Ucits management deal
Goldman Sachs Fund Solutions has partnered with Paris-headquartered asset manager Amundi to manage Luxembourg-domiciled funds based on Goldman Sachs’ proprietary systematic strategies.
The subsidiary of Goldman Sachs’ securities division, which is not connected to Goldman Sachs AM, offers systematic strategies via alternative investment funds and Ucits platforms. Through the partnership, it aims to expand its alternative Ucits offering and significantly increase assets over the coming years, primarily through institutional investors and financial intermediaries.
Amundi, via its arm Amundi Services, will provide investment management as well as ongoing control and oversight services to Goldman Sachs Fund Solutions. Fund management will be ensured by Amundi’s structured products team.
The €1.4trn AUM manager will as well provide management, due diligence and monitoring services to Goldman Sachs’ Ucits platform dedicated to external alternative fund managers.
As of 30 September 2017, Amundi was the management company of more than 300 Luxembourg-domiciled sub-funds, with total assets amounting to €144bn.
Stefan Bollinger, co-head of Global Sales Strats and Structuring, Goldman Sachs Securities Division, said: “Goldman Sachs Fund Solutions is pleased to be partnering with Amundi to continue to provide market leading systematic strategies and access to leading hedge fund managers through our Ucits platform.
“We believe that Amundi’s scale, independence and experience combined with Goldman Sachs’ product expertise will create a cutting edge platform to meet the needs of existing and future clients of our firms. This partnership demonstrates Goldman Sachs’s Securities Division’s commitment to the fund market in Europe and beyond.”
Guillaume Lesage, head of the Operations, Services and Technology Division of Amundi, commented: “We are delighted to be chosen as hosting provider for Goldman Sachs’ Fund Solutions in Luxembourg. The partnership is a testament to Amundi’s ambitions to develop world-class infrastructure services for institutional investors, asset managers and fund distributors.
“Since 2016, Amundi Services has attracted over 20 third-party asset managers and asset owners as clients. The platform leverages Amundi’s strengths in technology, investment and regulatory knowhow, global reach and access to liquidity derived from its scale of assets under management – €1.4trn– across all asset classes”.