The names in the frame bidding for Pioneer - report

Amundi among the main contenders

Groups including Aberdeen, AXA, Amundi, Natixis and Macquarie are understood to have made an offer for UniCredit's fund management arm Pioneer Investments, according to reports.

Although these companies have been named as making an offer, only French asset manager Amundi has emerged as a main contender, alongside Italy's Assicurazioni Generali and Poste Italiane, according to Reuters. Their bids are seen to be more favourable compared to those received from AXA, Aberdeen, Macquarie and Natixis, said the report. Pioneer posts record inflows of €15.2bn for 2015 Italian bank UniCredit needs to sell the fund arm to fill an €8bn hole in its capital requirements, and is hoping to seal a deal by November. It wants to raise €3bn from the sale of Pioneer, which ...