"This choice has led to the reclassification of almost all of its range of Article 9 funds into Article 8." It added the decision was based on a deliberately cautious approach to protect investors and distributors from a significant risk of confusion. Amundi follows BlackRock, UBS Asset Management, Invesco and HSBC Asset Management in downgrading their Paris-Aligned Benchmark (PAB) and Climate Transition Benchmark funds earlier in November.