French asset manager Amundi has bought BNP Paribas Asset Management’s 49.96% stake in distribution platform Fund Channel.
The firm, which was a founding shareholder of Fund Channel, is set to become the sole stakeholder of the fund distribution platform by the start of next year, it has announced.
Both Amundi and Fund Channel have outlined plans for an annual growth rate of 15%, growing on the €200 billion assets already intermediated by the platform.
Fund Channel’s managing director Pierre-Adrien Domon said: “We are continuing to integrate additional links in the fund distribution value chain, from asset servicing to asset management, with the aim of offering a comprehensive, attractive and relevant one-stop shop to our clients, both distributors and asset managers in Europe and Asia.”
According to Guillame Lesage, chairman of Fund Channel and head of operations, services and technology at Amundi, Fund Channel acts as a “strategic activity” for the French asset manager.
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