by Laurent BERTIAU,
Global Head of Institutional Clients at Amundi
Speaking to the audience as the first day of the Amundi World Investment Forum drew to a close, Mr. Bertiau listed the four key challenges facing today’s investor: the low rate environment, which makes it harder to find return and generate performance; increasing regulations; a lack of short term visibility, rendering decision-making more challenging than ever; and the expectation that all of us — asset managers and asset holders alike — make long term asset allocation decisions while being judged on short term performance. “There is a growing disconnect today between performance evaluation and long-term decision- making, at the end of the quarter, at the end of the year,” he said.
“These four challenges are the reason why it is important to engage with each other in forums like the Amundi World Investment Forum. This ongoing dialogue with you, our clients and prospects, allows us to align our strategies with your needs, and tailor our solutions to your long-term agenda,” he added. Mr. Bertiau pointed out that, in this context, Amundi has an important role to play as a trusted partner. As long-term investors, Amundi can relate to client problems.
But what does the word ‘partner’ mean at Amundi? Mr. Bertiau said that this question has been painstakingly debated within Amundi in order to define what it means to be a good partner for its Institutional clients. The simple definition, Mr. Bertiau said, is openness and cooperation to foster long-term relationships based on transparency and shared vision, for the mutual benefit of both parties.
According to Mr. Bertiau, Amundi has identified five key factors of partnership success: dedicating significant resources from senior management to junior resources, each accountable for the success of the partnership; trust, developed through close contact and clear communication channels across all levels of the hierarchy; the belief that partners should help each other achieve their long- term goals and that the partnership should be mutually beneficial; a shared roadmap where common long-term goals are identified along with planned intermediate steps in which achievements are monitored and targets adjusted; and good governance, with the right incentives, clear responsibilities and mechanisms to fine-tune the relationship throughout the project in a constructive manner and ensure the utmost quality delivery.
“In a word, the success of a partnership depends on the quality of its execution. In fact, cross-fertilization is what makes forums like today so enriching,” Mr. Bertiau said, adding, “The Amundi World Investment Forum is an opportunity, each year, to pursue the conversation with all of you.”