CSH2

Amundi Smart Overnight Return GBP Hedged (Acc) is an actively managed UCITS ETF that aims to deliver an overnight cash-like return in GBP (hedged) by investing in very short-dated money market instruments, repurchase agreements and high-quality short-term debt. The fund is an accumulating share class listed on the London Stock Exchange and is managed to preserve capital and maintain very low volatility while offering liquidity similar to cash products. Returns are driven primarily by overnight interbank rates (the manager seeks to capture SONIA/overnight interest) plus the small spread earned on short-term securities and secured financing transactions, after fees. The main risks are counterparty and credit exposure in repo and short-term instruments and the possibility of negative real returns in a low-rate or rising-rate environment. Typical use cases are cash management, liquidity parking and an alternative to bank deposit products.