Amundi has increased its ownership staTOBAM TOBAM to 20% from 10.6%, Amundi spokesman James McFarlane said.
This increase results from the disposal of shares from other shareholders. TOBAM's president, Yves Choueifaty, and Tobam's employees will remain the majority shareholders.
The partnership between the two companies started in 2012 when Amundi bought its staTOBAM TOBAM from the California Public Employees' Retirement System, SacramentoTOBAM TOBAM employees. CalPERS still owns nearly 7%.
Through this partnership, Amundi distriTOBAM TOBAM's strategies to its clients.
Amundi managed €1.054 trillion ($1.18 trillion) as of Sept. 30, TOBAM TOBAM managed more than $9 billion as of the same date.