Although steps are being taken, financial education remains an important and urgent challenge in our country; a challenge for the whole industry and where we must all do our part. Institutions such as the CNMV or Inverco they are carrying out a remarkable work of awareness, along with other economic agents, media, intermediaries or business schools; They are also developing interesting initiatives to bring finance closer to individuals.
In our opinion, the fund managers of investment funds are also playing a relevant role in raising the financial culture in our country. Thus, from Amundi we are firmly committed to the training of intermediaries and distribution networks, private bankers, personal bankers, agents, advisers … And Amundi has in its DNA to be a network manager, since it has in its origin to provide service to its large associated networks (Crédit Agricole and Société Générale, among others in France, or Unicredit in Italy); and that allows us to know very well the needs of the distributors, being able to offer customized solutions, as well as services and tools that help them in their daily work.
Thus, we seek to accompany them so that the service that these commercial networks can provide to the final investor is the most appropriate and of the best possible quality. We also participate, together with them, in numerous conferences with final clients, where we seek to contribute the visions of our house to better understand what happens in the markets; and explain the possible investment solutions, adapted according to their characteristics and specific profiles.
And all this in a framework in which regulation has also forced more training. The MIFID II directive requires the certification of intermediaries, seeking to elevate customer protection. In this sense, we have been almost 10 years collaborating with EFPA -the Spanish Association of Financial Advisors and Planners-, which acts as a professional certification platform. With them we collaborate periodically through seminars and conferences where our professionals share knowledge both face-to-face and online. We also hold numerous conferences with specialists from different fields, macroeconomists, analysts, managers of all asset classes, specialists both from our manager in Spain and from other Group management centers.
Also for professionals, we hold an international seminar-the Amundi World Investment Forum– where prestigious speakers (Nobel Prize winners, politicians or university professors, among others) join Amundi specialists to tackle issues from a geopolitical point of view or relevant trends for investors. In the last edition, held in June, the future of global growth was explored in an increasingly 'multi-polar' world, addressing the involvement of financial actors in responsible investment.
We have also participated in specific initiatives aimed at private investors such as the Investment School of the magazine 'Inversión & Finanzas' or the 'Pequeños Inversores' launched by Selfbank, which seek to bring personal finances closer to a wider public with a more accessible and simple language.
Being the first European manager by volume under management (1.46 trillion euros) 1, with a presence in 37 countries and a full range of active, passive and real assets solutions, enables us, obliges us and encourages us to play a relevant role in the training of both our teams and our customers and the final investor.
Although much progress is being made, there is still a long way to go in the field of financial education. The formation of the final investor is crucial; a subject that can not be left aside, especially in a world of low interest rates, with a population that lives longer and with the challenge of pensions ahead. For all this, it would be desirable to go further in the training of the small investor. Initiatives such as the inclusion of a subject in the colleges and universities seems appropriate and would be in favor of all.
(1) Grupo Amundi data (June 2018). First European manager: Source IPE «Top 400 asset managers» published in June 2018 according to assets under management at December 2017.