Amundi launches US mid-cap fund in conjunction with Wells Fargo

Portfolio of up to 70 equities

Paris-based Amundi has launched a US mid-cap fund, to be managed by Wells Fargo Asset Management's special equity team, which already runs more than $10bn in assets.

The sub-fund of Amundi's Luxembourg Sicav range will offer investors exposure to US domestic growth and aims to outperform the MSCI USA Mid Cap index over a five-year period. Charging a maximum management fee of 1.7% and a performance fee of 20%, the Amundi Funds Wells Fargo US Mid Cap fund will invest in between 50 and 70 equities, using a bottom-up approach. LGIM launches UK mid-cap tracker It targets cash-rich US firms, deriving 85% of their income from the US domestic market, with undervalued assets or growth potential, and limited downside risk. Christian Pellis, global hea...