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Five manager exodus prompts Amundi to shuffle fund roles

Five manager exodus prompts Amundi to shuffle fund roles

French investment firm Amundi has announced a series of changes in its fund manager line-ups following the departure of five portfolio managers.

The Paris-based group has reassigned managers to oversee funds run by the quintet who joined OFI Asset Management on April 1.

The departing managers were Eric Turjeman, Olivier Baduel, Beryl Bouvier Di Nota, Corinne Martin and Jean-Charles Naudin.

European equity specialist Lionel Parisot, who currently runs the SG Actions Europe Expansion and SG Actions Europe Selection funds, assumes responsibility for two of Baduel’s former European equity funds: France-domiciled Amundi Actions Europe and its Luxembourg-domiciled equivalent the Amundi Funds Equity Europe.

Philippe Mahé replaces Baduel on his two eurozone equity funds, which are the France-domiciled MEDI-ACTIONS EURO and Medi-Actions funds.

Meanwhile, Di Nota, who had run the Amundi Funds Equity Euroland Small Cap fund since its launch in September 2004, is succeeded by Citywire A-rated manager Caroline Gauthier.

A spokesperson for Amundi confirmed to Citywire Global these managers would also be supported by former Carmignac manager Laurent Ducoin, who Amundi named as head of European equity at the end of March.

OFI AM has not confirmed which funds the new recruits will assume responsibility for as yet, although Turjeman joined as head of equities and convertibles, while Baduel and Martin were named as large-cap managers and Di Nota and Naudin are small- and mid-cap specialists.

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