Amundi posts €13.8bn inflows in Q1 2016

French asset manager Amundi has reported net inflows of €13.8bn over the first quarter of 2016, stable compared to inflows recorded in Q4 2015 (€14bn).

Inflows posted in Q1 2016 form 6% of Amundi’s assets under management at the beginning of the period.

At end March, AUM were reaching €987bn, up 0.2% month-on-month and 3.5% year-on-year.

Amundi explained inflows have been offset by a negative market effect of -€11.6bn.

Institutional clients have accounted for €12bn of net new cash while net inflows slowed in the retail client segment “as risk aversion grew in response to the market environment”, Amundi said.

The firm reported that its French networks have almost seen equally balanced inflows and outflows between medium and long-term assets (-€0.3bn), with net outflows at the end of the quarter on money market instruments for SME clients (-€4.3bn overall).

Amundi stressed that the international segment concentrated 68% of total net inflows in Q1 2016 (€9.3bn), split between Europe outside France (+€4.0bn) and Asia (+€5.0bn) with a strong contribution from Asian joint ventures (€3.6bn).

As for the other distribution channels, net inflows of €6.4bn were recorded over the first quarter of 2016.

“Net inflows remained balanced between treasury products (+€7.0bn) and medium/long-term assets (€6.9bn), with positive contributions from all asset classes,” Amundi highlighted.

Lastly, the net income group share (€130m) rose by 0.8% yoy.

Targets set for Amundi include net retail inflows of €100bn including €40bn through joint ventures between 2016 and 2019.

Some €60bn inflows are expected over the period on the institutional segment excluding mandates of Crédit Agricole and Societe Generale.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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