Amundi Funds US Bond | Amundi HK Retail

Amundi Funds US Bond

Thinking how to position amid the Fed's resumption of rate cuts?
US bonds are poised for growth in an easing cycle.

Amundi Funds US Bond

1.    The fund extensively invests in investment grade corporate and government bonds and asset-backed securities (ABS) and mortgage-backed securities (MBS), that are denominated in USD and issued inside the United States of America. 
2.    Investing in this fund may expose investors to concentration risk and exchange/currency risk. It may also involve risks associated with debt securities, investment in ABS / MBS and subordinated bonds.
3.    The fund may use financial derivative instruments (FDI) for hedging, efficient portfolio management and as a way to gain exposure (long or short) to various assets, markets or other investment opportunities. FDI exposure may involve additional risks such as credit/counterparty risk, volatility and liquidity risk, valuation risk and over-the-counter transaction risk.
4.    For distribution class, the fund may at its discretion determine to pay dividends out of income or capital of the fund. In addition, the fund may at its discretion pay dividends out of gross income while charging / paying all or part of the fund’s fees and expenses to the capital of the fund, resulting in an increase in distributable income for the payment of dividends by the fund, in which case, the fund is effectively paying dividends out of capital. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Such distributions may result in an immediate reduction in the net asset value per share of the fund.
5.    The value of the fund can be volatile and could go down substantially. Investors may suffer loss.
6.    Investors should not make investment decisions solely based on this marketing material.

Fed rate cuts: What's next for US Fixed Income?

 

A Timely Entrance

Bloomberg US Aggregate Index post-rate cut

 

Gradual Rate Cuts: US Bonds are poised for growth in an easing cycle.

Historically, within US fixed income markets, investing on the back of rate cuts has been an outperforming strategy as usually bond prices appreciate when yields decline.

Source: Bloomberg, as of 30 September 2025. Chart shows historical data from January 2000 to September 2025.

Why invest? 2 Competitive Advantages of the Fund

 

Multi-Sector approach: going beyond the traditional high-quality US Core 
 

The Fund provides exposure to a large credit spectrum which broadens the opportunity set and sources additional yield.

Enhanced sector diversification also delivers a more resilient risk profile to the overall portfolio.

Diversification

Power of Consistency: outperforming benchmark over the past 15 years
 
 

Power of Consistency 15 Years

 

The Fund has outperformed its benchmark over the long-term.

Value driven philosophy in which the portfolio management team prioritises the total return, combining capital gains (bond prices appreciation) with income (coupons received) to maximise long-term performance. 

Source: Amundi and Morningstar, as of 28 November 2025. Performances of Amundi Funds US Bond A2 USD C, in USD, net of fees. Past performance is not a guarantee or a reliable indicator for current or future performance and returns. For details of other Share Classes available, please refer to the prospectus. For Illustrative purposes only. Please refer to the Disclaimers for disclaimers on Morningstar. 

Monthly Dividend Distribution

Aims to provide a monthly dividend of 8.7% (A2 MTD3 USD, as of November 2025. Dividend payment is not guaranteed)Important information 4

Source: Amundi, as of 28 November 2025. Dividend is not guaranteed. The Fund may pay dividends out of its capital. Please refer to point 4 of the "Important Information". *Annualised dividend yield = (1+monthly distribution per unit/ex-dividend NAV)^12-1. The annualised yield may be higher or lower than the actual annual yield. Positive distribution yield does not imply positive return.

Our US Fixed Income Expertise

 

20+ Years
Fixed Income expertise

 

Fixed Income investment experience at Amundi1

30+ Years
Industry Experience

 

Average industry experience1

 

USD 60+ bn
Global

 

In Fixed Income investments globally2

1Source: Pioneer Investments, a Victory Capital Investment Franchise as of, 28 November 2025. 

2Source: Pioneer Investments, a Victory Capital Investment Franchise as of, 30 September 2025. 

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This document is not intended as an offer or solicitation with respect to the purchase or sale of securities, including shares or units of funds. All views expressed and/or reference to companies cannot be construed as a recommendation by Amundi.  Opinions and estimates may be changed without notice.  To the extent permitted by applicable law, rules, codes and guidelines, Amundi and its related entities accept no liability whatsoever whether direct or indirect that may arise from the use of information contained in this document.

This document is for distribution solely to persons permitted to receive it and to persons in jurisdictions who may receive it without breaching applicable legal or regulatory requirements. This document has not been reviewed by the Securities and Futures Commission in Hong Kong.

This document is prepared for information only and does not have any regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment.  Investors should not only base on this document alone to make investment decisions.

Investment involves risk. The past performance information of the market, manager and investments and any forecasts on the economy, stock market, bond market or the economic trends of the markets are not indicative of future performance.  Investment returns not denominated in HKD or USD is exposed to exchange rate fluctuations. The value of an investment may go down or up.

The fund(s) may use financial derivatives instruments as part of the investment strategy and invest in securities of emerging markets or smaller companies, or fixed-income securities. This involves significant risks and is usually more sensitive to price movements.  The volatility of fund prices may be relatively increased.  Issuers of fixed-income securities may default on its obligation and the fund(s) will not recover its investment.  Additional risk factors are described in the offering document(s).  Investors are advised to be aware of any new risks that may have emerged in the prevailing market circumstances before subscribing the fund(s).

This document is not intended for citizens or residents of the United States of America or to any «U.S. Person», as this term is defined in SEC Regulation S under the U.S. Securities Act of 1933.