Paris-based asset manager Amundi has launched a private debt fund for professional investors, backed by physical stocks in Italian luxury food products.
The fund will invest in private bonds in which the yield and value are guaranteed by the stock from several producers and aims to deliver an attractive annual return over six years.
The firm said it aims to meet the needs of investors seeking diversification in today’s persistently low interest rate environment.
The fund is managed by Amundi’s private debt team. In addition, Amundi has established a partnership with the Italian subsidiary of Credit Agricole Group.
The Italian bank network contributes not only sector skills and additional credit risk analysis, but also sourcing through its presence in the Italian agri-food business.
Pierre-Henri Carles, Amundi’s head of private debt in Italy, said: “Nearly 50% of our sourcing comes from the Credit Agricole’s networks in Italy.
“This privileged access allows us to diversify the counterparties of bonds that we structure. Each issue is backed on average by a dozen different companies.”
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