Coronavirus: general communication

Paris, Tuesday 24 March 2020


Coronavirus: general communication

The acceleration of the coronavirus crisis, the confinement measures taken by a growing number of governments around the world, the repercussions already seen on our economies and their translation into the behaviour of financial markets are creating a truly exceptional moment in our collective history.

In this context, we have taken a series of measures aimed at two fundamental objectives: the protection of people's health - of our clients and employees - and the continuity of the services we provide to our clients, maintaining our high level of quality.

Our daily action in this crisis is based on three pillars:

  • First, managing our clients’ investments with the same concern for rigour and performance that we have always had. 90% of our employees are now working from home and our investment teams are mobilised to manage your funds and mandates as efficiently as possible despite the market environment, thanks to our robust IT system. This platform is managed by a team of more than 600 people who operate our production centres and back-up sites in France, serving our 37 locations around the world. Our teams manage the daily connections of our 5,000 employees around the world from the Paris-based operational centre. This system, used on a daily basis under normal circumstances, is particularly useful in times of crisis.
  • Second, bringing our clients the advice they need to help them weather the market turbulence. In these exceptional circumstances, we will keep in close contact with our clients through weekly communications on our analysis of the crisis and markets, and our staff are available to provide them with any investment advice they may require.
  • Finally, ensuring the successful completion of our clients’ operations. For the past month, we have been gradually deploying our business continuity plans across our entire platform and with no significant operational incidents to report. We see this as evidence of the relevance of our contingency plans.

The Group’s Management Committee meets every day to assess the situation and decide on the appropriate measures called for by the operating environment and the financial markets. This Group Management Committee is in turn supported by equivalent governance in each of our locations around the world.

This crisis is unprecedented in its magnitude and it is difficult to predict how long it will last.

Our teams will keep you regularly informed of any developments and remain available to assist you at any time.

Text updated on March 24, 2020.

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07/08/2020 Research / Market


TIME IN THE MARKET VS TIMING THE MARKET  Market timing is a costly exercise.Dollar Cost Averaging investing strategy mitigates market timing risk by smoothing fluctuating prices. By investing small sums regularly, you buy more units when prices fall, and fewer units when they rise. This is the cost-averaging effect.  POWER OF THE COST-AVERAGING EFFECT Reduce risks of exposure to market fluctuations & emotions Fear of an ill-timed investment can lead to hasty decisions. Investing the same amount regularly regardless of market conditions allows investors to be less emotionally affected by market volatility and avoid making rash investment decisions. Potentially lower cost of investmentWith Dollar Cost Averaging, investors buy more units when prices are low and fewer units when prices are high.Over time, the average cost of your investment could potentially be lower, compared to a one-time, lump sum investment Stay invested, smooth out near-term bumps Empirical evidence has shown “Time in the market is more important than timing the market.” In times of market volatility, it is more important to stay invested in the long run and manage risk than maximize returns. Peace of mind with a predetermined planDollar Cost Averaging is a simple plan that invests a fixed sum of money regularly into the same investment over a period of time, regardless of market conditions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           For illustrative purposes only. This publication is provided for information purpose only and does not constitute and offer, commitment, advice or recommendation to make a purchase of securities or enter into any such transaction. It may not be distributed to anyone or in any jurisdiction that would make such distribution unlawful.The information contained herein has been obtained from sources believed to be reliable but has not been independently verified, although Amundi and its affiliated companies believe it to be fair and not misleading. Such information is solely indicative and may be subject to modification from time to time. Any opinion or view expressed herein is subject to change without notice. We do not accept any liability whatsoever whether direct or indirect that may arise from the use of information contained in this publication.This publication is not intended for residents or citizens of the United States of America or to any «U.S. Persons», as this term is defined in SEC Regulation S under the U.S. Securities Act of 1933. The information contained in this publication is deemed accurate as of 7 August 2020. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.