An AMC Note or Certificate is a debt security usually issued by financial institutions.
The return of an Actively Managed Certificate is based on a single asset or a basket of assets. They are a combination of financial contracts embodied in a single security, which can be traded like a stock or bond. The return of such a note is linked to the performance of an underlying asset or multiple assets on a predetermined date or with open-end maturity. Usually the AMC follows a defined composition of underlying assets or an index which changes over the time at the discretion of an external asset manager. AMCs enable a very fast time to market when the external asset manager decides to create its own strategy.