Amundi has increased its ownership stake in 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 stake in TOBAM from the California Public Employees' Retirement System, Sacramento, and TOBAM employees. CalPERS still owns nearly 7%.
Through this partnership, Amundi distributes TOBAM's strategies to its clients.
Amundi managed €1.054 trillion ($1.18 trillion) as of Sept. 30, while TOBAM managed more than $9 billion as of the same date.
