Natixis Asset Management has said that it plans to appeal against a fine imposed by France's regulator for misleading investors over redemption charges.

The Autorité des marchés financiers (AMF) slapped the Paris-headquartered asset manager with a €35 million (US$41.4 million) fine -  the largest ever handed out by the watchdog – because it failed to disclose redemption charges levied to investors in their fund prospectuses. 

However, Natixis Asset Management's chief executive, Matthieu Duncan, has said that the firm “strongly disputes” the AMF's decision and will appeal to the French Council of State to have it revoked. 

“Natixis Asset Management still believes that this decision is unwarranted and disproportionate and firmly denies failing to fulfil its professional obligations,” Duncan said in a memo seen by this publication.