Focused on five investment funds that failed to meet their management objectives, the group has undertaken to reimburse management fees to investors and to pay 600,000 euros to the State Treasury. This decision follows a control mission carried out last year on five sectoral funds, whose management objective was the “outperformance of the Stoxx Europe 600 sectoral index

Management companies will do it twice before announcing management objectives in their prospectus. In a transaction decision on Monday, the AMF published the agreement reached with BNP Paribas Asset Management, following the discovery of certain deficiencies in the management of its

The Autorité des Marchés Financiers criticized BNP Paribas Asset Management in particular for “lacking diligence, care, competence and professionalism” in their structuring. BNPP AM must also pay 600,000 euros to the State Treasury, according to this agreement signed on 2 June. The AMF accuses him in particular of “misinforming customers” concerning five funds between May 2016 and December 2021 as well as a “lack of diligence, care, competence and professionalism” in their structuring. BNPP AM undertakes to “pay” to each investor concerned “within 16 months” the amount due for expenses incurred “above the rate of 0.75%”, provided that the amount is at least 50 euros. The AMF expects “the best efforts” to identify eligible investors. If the company does not pay 7.75 million euros to investors in these funds, it will have to “pay the difference” to the State Treasury, the agreement states