Amundi

EONIA recalibration / €STR

A new euro risk-free rate called the Euro Short-Term Rate (€STR) will be published by the European Central Bank (ECB) at 08:00 am (CET) on D+1 as of October 2nd 2019 so as to replace the EONIA (Euro OverNight Index Average) which will fully be substituted from January 3rd 2022. As of October 2nd 2019, the EONIA will be recalibrated as “€STR + 0.085%” and its time publication will shift from 7:00 pm (CET) on D to 09:15 am (CET) on D+1 « or shortly after ». This recalibration determined by the ECB will insure an economic continuity of the EONIA before and after October 2nd 2019, and will not require any approach from end-investors.

For more information, please refer to the following press releases:

-          https://www.ecb.europa.eu/paym/initiatives/interest_rate_benchmarks/euro_short-term_rate/html/index.en.html

-          https://www.emmi-benchmarks.eu/assets/files/D0194C-2019%20EONIA_consultation_feedback_press_release.pdf

Remuneration Policy

Best Execution Policy – Amundi Ireland Limited

Shareholders Rights Directive 2

The European Shareholder Rights Directive 2 requires asset managers to disclose publicly their engagement and voting policy. For several years, Amundi has choose to share these policies on its website with its investors. You will find below all the documents covering the Directive’s requirements.

Amundi’s engagement policy is articulated around three main axes: engagement for influence, ongoing engagement and engagement through voting. It is an essential part of Amundi’s fiduciary duty and its role as responsible investor.

The monitoring of the investee companies is organized as follows, depending on the management platform concerned:

  • For active management strategy: investment cases are discussed and documented by the equity research analysts. Buy rated stocks are followed based on frequent research updates. The investment case is based on the Research team company report, supported by Valuation & Model updates when required. Feedback of meetings with the Company, as other engagement actions by the Research team, are documented diligently
  • For passive management strategy: monitoring is mainly done through the engagement and the voting at general meetings.

Information relating to the European Shareholder Rights Directive 2 is presented in the documents below and in the dedicated section "Voting policy".

Voting policy

The exercise of voting rights and shareholder dialogue are key elements of our fiduciary responsibility and of our role as a responsible investor.

As early as 1996, Amundi implemented its own voting policy, updated every year, which includes the best corporate governance practices as well as, from 2003, social and environmental responsibility. Amundi has decided to exercise voting rights for the vast majority of French and Luxembourg funds so as to best fulfil its responsibility as a shareholder.

 

Very early in its approach as a responsible shareholder, Amundi also implemented a shareholder dialogue process organised around a system of alerts in the event of negative voting intentions vis-à-vis SBF120 companies and a group of companies with the largest market capitalisations in Europe.

Voting and dialogue thus allow us to be actively involved in improving the practices of the companies in which we invest.

Enforcement of ESMA guidelines

The “Guidelines on ETFs and other UCITS issues” published by the European Securities and Markets Authority (ESMA) on 12 December 2012 came into force on 18 February 2013.

You will find below the policy applicable to UCITS subject to these Guidelines in terms of financial guarantees.

Shareholder notices

Fund concerned Publication date
AMUNDI CASH INSTITUTONS SRI - AF 2020 07 01-IE-EN 26/06/2020
AMUNDI 12 M 29/01/2020
AMUNDI 3 M 17/06/2019
AMUNDI CASH CORPORATE 17/06/2019
AMUNDI CASH INSTITUTIONS SRI 17/06/2019
AMUNDI 3 - 6 M 03/06/2019
AMUNDI 12-24 M - IE 25/04/2019
Ireland_Amundi Funds II Notice_Appendix II 05/04/2019
Ireland_Amundi Funds II NoticeOK 05/04/2019
Ireland_Amundi Funds NoticeOK 05/04/2019
Ireland_Amundi Funds Target NoticeOK 05/04/2019
AMUNDI 12-24 M 17/09/2018
Amundi 3 M - notice June 2018 - IE - EN 27/06/2018
Amundi Cash Institutions SRI 26/06/2018
AMUNDI CASH CORPORATE 26/06/2018
AMUNDI 12 M 15/06/2018
AMUNDI 3 M 27/03/2018
AMUNDI ABS 25/10/2017
Amundi 12 M 05/09/2017
AMUNDI 6 M 21/08/2017
Amundi 12 M 21/06/2017
Amundi 6 M 21/06/2017
AMF 15/02/2017
AMUNDI 6 M 05/01/2017
AMUNDI CASH CORPORATE 08/12/2016
AMUNDI 3 M 08/12/2016
AMUNDI 12 - 24 M 03/11/2016
AMUNDI 6M 07/09/2016
AMUNDI 12 M 25/02/2016
Amundi 3 - 6 M - Notice 10062015 - EN LU 23/10/2015
AMUNDI 6 - EN IE 23/10/2015

Funds list

Name / ISIN Code