Global Investment Views - May 2023
Tuesday 01 March 2022
Amundi Group takes all reasonable steps to ensure that it strictly complies with the sanction lists published by France, the European Union, the United Nations, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) and other local regimes applicable to its subsidiaries and branches in the countries in where it operates.
Sanctions promulgated by the European Union, COUNCIL REGULATION (EU) 2022/328 of 25 February 2022 (articles 5e and 5f), amending Regulation (EC) n°833/2014 & COUNCIL REGULATION (EU) 2022/398 of 9 March 2022 (article 1x and 1y) amending Regulation (EC) n°765/2006, aim at:
to any Russian or Belarusian national, any natural person residing in Russia or Belarus, or any legal person, entity or body established in Russia or Belarus.
Consequently, from 12 April 2022, new subscription in any funds of Amundi Group is prohibited to:
with exceptions of:
*Definition of dual nationality in this context: having a Russian or Belarusian nationality AND a EU Country nationality
Portfolio exposure to Russia, Belarus and Ukraine
In order to inform you on the aggregated exposure of Amundi open ended investment funds to both Russia, Belarus and Ukraine, please download below an outline of our current portfolio exposure. This file shows the % of the NAV for Amundi open-ended investment funds that have an exposure to Russia, Belarus and Ukraine.
We will update these figures on a regular basis, in order to keep you fully informed of the evolving situation.
Amundi Exposure Ukraine Russia Amundi HK Exposure Ukraine Russia
Document is updated frequently, we invite you to check this page on a regular basis.
Please note that this list refers to all concerned Amundi open-ended funds, independently of their countries of registration.
Some of the fund(s) mentioned here are not authorized by Securities and Futures Commission in Hong Kong. Consequently, shares or units of such funds are not available to the general public in Hong Kong and must not be distributed in Hong Kong by way of public offer, public advertisement or in any similar manner.
Due to the situation, the Moscow Stock Exchange has been closed to non-Russian residents since Monday 28th February. Therefore, we are unable to properly value some Russian assets invested by some of our funds. In order to respect the best interest of all investors, Amundi has decided to suspend subscriptions and redemptions on all its funds holding more than 10 % of locally listed Russian assets.
This measures applies to the following open-ended funds :
And also, a non-open to distribution fund, Ocean Fund Equities Eastern Europe (Luxemburg Fund) and GF Osteuropa Aktien (Austrian fund) as from Monday 28 February 2022.
Amundi CR Dluhopisovy Plus (Czech Fund), which had been suspended on Monday 28 February 2022, is open again to subscriptions and redemptions since Tuesday 8 March 2022.
We invite you to consult the notice to Shareholders relating to each funds for more information.
NAV Suspension - ETF
Due to the suspension of the quotation by Euronext, Borsa Italiana and Deutsche Börse of all ETF exposed to Russia and due also to the fact that the underlying index components cannot be traded currently, decision was made, in order to protect the interests of investors in the funds, to suspend the valuation and the issue, redemptions and conversion of shares of the two following Lyxor ETF until further notice:
Information on valuation of Russian Assets in Amundi open-ended funds
In the context of the present market disruption, Amundi adapts on a daily basis its valuation policy regarding Russian assets, taking into account the latest development on local and international markets.
The following valuation rules are being applied for all European open-ended funds, as from March 17th, until further notice :
For both equity and fixed income products in Rubles, the current day FX rate is being used.