On 8 July 2021, French regulator Autorité des Marchés Financiers, or AMF, announced that it was proposing a sanction accompanied by a EUR 38 million fine on two entities of the Amundi group (EUR 30 million for Amundi Asset Management and EUR 8 million for Amundi Intermediation, the group's trading arm). The AMF pinpointed a series of transactions made on Euro Stoxx 50 Index constituents over the course of 2014 and 2015 by three former Amundi employees. According to the AMF, these employees conspired to execute transactions that benefited an open-end equity fund at the expense of an identical account managed on behalf of an institutional client. The atypical volume and repeated nature of the transactions caused clients a prejudice of EUR 48.1 million. The AMF highlighted that this was made possible by generalized failings in Amundi's control functions and noted that the transactions had resulted in market manipulation.
Pioneer Select Mid Cap Growth C GOFCX
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will GOFCX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable GOFCX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the GOFCX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of GOFCX’s parent organization’s priorities and whether they’re in line with investors’ interests.
French Regulator AMF Requests Sanction on Amundi Over Market Manipulation
