Amundi has launched a short-term European corporate bond fund for Citywire + rated manager Thomas Giquel, Citywire Global has learned.
The Luxembourg domiciled Amundi Funds Bond Euro Corporate 1-3 was formally launched on November 7.
In this new approach, Giquel will focus on the European corporates market and target bonds which have a high potential capital gain over the short and mid-term.
It will invest at least 50% of its assets in corporate bonds which are low yielding but defined by the firm as investment grade. Bonds will be held for a minimum of 18 months.
Giquel will adopt several investment strategies, including directional credit strategies, directional strategies on interest rates and arbitrage strategies.
Giquel currently manages three funds on behalf of the French firm. These are the French-domiciled Amundi Credit 1-3 Euro and Amundi Credit Euro funds, as well as the Amundi Fund Bond Euro Corporate, which is Luxembourg-domiciled.
The fund is registered for sale in Austria, Belgium, Finland, France, Germany, Greece, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden and the UK. It is benchmarked against the Barclays Euro-Aggregate: Corporate 1-3 Year TR EUR.