Macquarie Investment Management's (MIM) fixed-income and currency division has been awarded a $105 million mandate by European asset manager Amundi.
Through wholly-owned subsidiary Amundi Alternative Investments' (Amundi AI) Managed Account Platform, the investment partnership will extend into the active trading of G10 currencies.
The G10 currencies are from the following countries or regions: the United States, Canada, United Kingdom, euro region, Switzerland, Sweden, Norway, Japan, Australia and New Zealand.
Amundi has been a supporter of MIM funds in the traditional funds management space.
"As we continue to build a focus list of high-quality absolute-return solutions, we are thrilled to add MIM's Short Term Currency Alpha strategy to our line-up of core investments," Amundi AI chief executive Laurent Guillet said.
The team was well resourced and capable to take on the new mandate, an MIM spokesperson said.
"Fixed income and currency is a great strength for MIM, with investment strategies that have not only been resilient through the recent market downturns, but also added value to our clients' portfolios," MIM head of fixed interest and currency portfolios Brett Lewthwaite said.
"Given Amundi's deep and thorough due diligence processes, this expanding relationship is an endorsement of the strength of our team."
MIM holds over $150 billion in fixed-income and currency assets under management globally.
