French asset manager Amundi will reduce its cross-border retail fund range by more than a third by the end of the second quarter of 2019.
The company said 55 retail funds out of its 155 cross-border funds will either be closed or merged away.
The remaining range will, however, still include retail funds, which a spokesperson for Amundi said, “are an important part of the business”.
Overlap
According to reports, the completion of Amundi’s takeover of Pioneer Investments was the “main driver” for the decision to rationalise the cross-border range, with there being an “overlap” between funds offered by the two firms.
The streamlining of the range is expected to be finalised by the end of the second quarter of 2019.
