Amundi has added a currency hedge fund run by Macquarie Investment Management to a global platform of alternative investment products.
Axel Maier, managing director and head of Asia distribution at Macquarie IM, says the strategy has nearly $2 billion of assets and is near its capacity. The firm has a $105 million allocation for Amundi clients.
Investments could come via Amundi’s fund of funds, or Amundi clients can invest directly via a managed account platform that it maintains for global hedge funds.
Amundi Alternative Investments manages nearly $10 billion, including $2.2 billion on its managed account platform. It has around 100 employees dedicated to the business, located in Paris, Tokyo, New York and London.
The FX strategy is run by Macquarie IM’s Sydney fixed-income team and has been live since 2007. It trades G10 currencies. It is part of a $150 billion fixed income and currency management business that Macquarie runs on a global basis, with teams in Philadelphia and London as well as Sydney.
This is the second Macquarie product on the Amundi platform, following an Asia long/short equity fund. Maier says Macquarie is happy working with Amundi, which has actively promoted the equity long/short fund as well as provided high-quality reporting and service to investors.