Amundi launches its first UCITS III multimanager absolute return fund
The fund, Amundi Funds Multimanagers Long/Short Equity, is a new sub-fund of its Luxembourg-domiciled SICAV.
Andrew Watson: chief executive of Amundi
This sub-fund invests in UCITS III funds employing long/short and/or equity arbitrage strategies, as well as volatility management and is managed by a team at Amundi.
The fund aims to outperform Eonia by 5% per year while maintaining a maximum level of annual ex-post volatility of 8%.
The current environment of low interest rates, economic uncertainty and high volatility is particularly favourable for absolute return strategies, which aim to capitalise on the divergence in performance between securities,