BOSTON--(BUSINESS WIRE)--Amundi Pioneer Asset Management has announced the expanded use of Environmental, Social and Governance (ESG) considerations in two of its US mutual funds to meet growing investor demand for ESG investment strategies. Amundi Pioneer, based in Boston, is the US investment hub of Amundi, a top 10 global asset manager with $1.7 trillion in assets under management as of March 31, 2018.
Pioneer Fund, which dates back to 1928, is recognized as one of the first mutual funds to deploy socially responsible investment criteria, avoiding companies in the alcohol, tobacco and gaming industries for much of its history.* Effective July 1, 2018, Pioneer Fund and Pioneer Classic Balanced Fund, by prospectus, will both use expanded screening to exclude investments in companies that fail to meet certain ESG standards across all industries.
“The firm’s focus on ESG is not new,” said Ken Taubes, Chief Investment Officer, US, of Amundi Pioneer. “ESG-related considerations are core elements of Amundi Pioneer’s research process and play a key role in security selection decisions across a broad array of our actively managed investment strategies. Investing in companies with sustainable business models and strong competitive positions has been a core focus of our firm for decades. Our view is that ESG factors are becoming increasingly important in understanding investment risk, and our ability to identify companies that have the potential to outperform over the long term,” Taubes added.
Amundi Pioneer’s research and investment processes are further strengthened by leveraging the extensive experience and ESG-related resources of parent company Amundi Asset Management (Amundi). With approximately €170 billion in socially responsible investment-related assets under management as of March 31, 2018, Amundi is one of Europe’s largest ESG investors.
Taubes added: “The expanded use of ESG in Pioneer Fund and Pioneer Classic Balanced Fund is consistent with the Funds’ existing objectives and processes and does not materially impact or change their portfolio characteristics or risk profile.”
About Amundi Pioneer
Amundi Pioneer references the US business of Amundi, Europe’s largest asset manager by assets under management, with $1.78 trillion as of March 31, 2018, and among the top ten global asset managers.** Amundi Pioneer was formed in July 2017 as part of Amundi’s acquisition of Pioneer Investments, and includes the operations of Amundi Pioneer Asset Management USA, Inc. based in Boston and Durham, NC. Boston is one of Amundi’s six main global investment hubs. Amundi Pioneer relies on its extensive experience and close partnerships with wealth management firms, distribution platforms, and institutional investors across the Americas, Europe, and Asia-Pacific to offer a wide range of innovative investment solutions, combined with high-quality service. Amundi Pioneer had approximately $89.07 billion in assets under management as of March 31, 2018.
Visit amundipioneer.com for more information.
*Until July 1, 2018 the Fund was not bound by such criteria in the prospectus.
**Source IPE “Top 400 asset managers” published in June 2017 and based on AUM as of end December 2016.
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Amundi Pioneer Asset Management is the U.S. business of the Amundi group of companies. Investment advisory services are offered through Amundi Pioneer Asset Management, Inc., and Amundi Pioneer Institutional Asset Management, Inc. Securities are offered through Amundi Pioneer Distributors, Inc. 60 State Street, Boston, MA. 02109. Underwriter of Pioneer mutual funds, Member SIPC.
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