Richard Bruyere said adding Lyxor gives Amundi ‘the scale to compete in Europe and beyond.’
Amundi s acquisition of Lyxor Asset Management marks a significant moment in Europe s exchange-traded funds industry, with a potential European champion finally emerging and also once again highlighting the importance of scale in the passive business.
Last month, Paris-based money manager Amundi announced it had entered exclusive negotiations to acquire Paris-based Lyxor in an almost $1 billion deal.
Amundi with €1.76 trillion ($2.07 trillion) in assets under management as of March 31 vs. Lyxor s €124 billion highlighted the ETF angle of the deal: Lyxor s European ETFs AUM was €77 billion as of Dec. 31, the third-largest player in Europe, while Amundi s was about €66 billion, putting it in fifth place. As of March 31, Amundi s AUM had grown to €77 billion.
memara@fortfrances.com
Pictured here is three-and-a-half-year-old Bryce Martin enjoying his oranges and cereal during snack time at the new Abinoojii Gamig Childcare and Family Centre. The facility opened its doors earlier this week, and will house several UNFC programs geared to families. – Merna Emara photo
On Monday the new Abinoojii Gamig Family Centre opened in their new location on 821 McIrvine Rd. This new facility will house the Zaagi’idiwin Headstart Program, Prenatal Nutrition Program, CAP-C (Family Support) Program and Healthy Babies and the Healthy Children Program.
Sheila McMahon, executive director at the United Native Friendship Centre (UNFC), said they will not be having their grand opening just yet due to COVID-19 restrictions. Despite not being able to celebrate, Sheila said she is happy to see this project come to fruition amidst a pandemic.