Amundi Plans Fee Cuts For Absolute Return Funds

Jun 2 2011 | 1:37pm ET

Amundi Asset Management will cut fees on its hedge fund products.

The French firm said it was reviewing the fee structure of its €14 billion in absolute-return products, the value at risk range of funds, Reuters reports. Those funds currently charge a 30% performance fee with a hurdle, as well as management fees of between 0.3% and 1.1%.

"We're currently rethinking the repricing of all our absolute return products," Laurent Crosnier, CEO of Amundi London, said yesterday. "We are looking at the market and where the competition is and where the current pricing is."

"We will come to the market soon with competitive pricing," he promised.

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