Citywire Americas rounds up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications.
Citywire AAA-rated Caroline Gauthier is leaving Amundi after nearly 18 years with the asset manager.
Gauthier oversaw five strategies in the eurozone small and medium companies sector. These were the: Amundi Actions PME, Amundi Europe Microcaps, LCL Developpement, SG Actions Euro PME and the Amundi Funds Equity Euroland Small Cap funds.
Her colleague Cristina Matti is stepping into serve as the sole head of European small- and mid-cap equities. Matti has over 20 years of investment experience and was head of the same asset class for Pioneer Investments prior to the merger of the two firms.
Gauthier oversaw all strategies with fellow Citywire AAA-rated manager Patrice Piade, while Emmanuel Robinet had also worked on the Euroland Small Cap fund. It is understood Piade will remain in place following Gauthier’s departure.
French asset manager Carmignac tabled plans to double the expected leverage levels in its flagship Patrimoine fund.
The asset manager is considering the change because it anticipates the normalization of monetary policies by central banks. Read the firm's full reasoning here.
The proposal would allow for the use of more derivatives in the portfolio in the giant mixed-asset fund.
In a statement, the group said the changes to the €21.45 billion fund will have no effect on the fund's risk profile. Likewise, it should not alter its philosophy nor investment process.
The announcement also comes following a disappointing year of performance for the fund and could see levels rise from 200% to 500%.
Launched in 1989, the Carmignac Patrimoine fund is managed by founder Edouard Carmignac and Rose Ouahba, who is head of international bonds.