Amundi posts record inflows in 2015

Paris headquartered asset management group Amundi is getting closer to the €1trn cap of assets under management.

At end December 2015, Amundi posted €985bn in AUM, up 12% year-on-year.

Last year, net inflows have hit a new record of €80bn, “equal to 9% of assets under management at the beginning of the period”, that includes €14bn in Q4 2015. In 2014, inflows were standing at €33bn.

Some €41.5bn inflows have come from retail investors and €38.3bn from institutional clients.

Amundi said 56% of net inflows were in medium/long-term assets (particularly bonds (€24.4bn), diversified management (€11.7bn) and equities (€6.0bn)). The remaining 44% went in treasury products.

As per geographical areas, 75% of net inflows came from outside France (47% from Asia and 28% from Europe excluding France). Performances of joint ventures in Asia (€31.3bn in inflows in 2015) and Italy (€5.7bn) have been highlighted by the group.

Amundi explained that for the first time since its creation, the French networks saw balanced inflows and outflows (+€0.1bn), excluding treasury products, over the year,”although the second half of the year was less favourable than the first.”

In the fourth quarter of 2015, net inflows in France slightly rose to €14.1bn from €12.5bn in Q4 2014.

Over 2015, Amundi has benefited from a positive market effect contributing for €22.4bn to its AUM.

The group reported a rise of its net income standing at €528m at end December 2015, up 8% yoy after adjusting for IPO expenses.

Amundi has been listed on Paris stock exchange since November 2015. The board of directors has decided to propose a dividend of €2.05 per share, totalling €343m, at the general meeting to be held on Thursday 12 May 2016.

“This dividend offer represents a payout ratio of 65% of the net income group share and a yield of 6% based on the share’s closing price on 9 February 2016,” the group commented.

Also Amundi highlighted it has no net financial debt and its free capital reached €1.5bn.

Yves Perrier, CEO of Amundi, said: “2015 was a year of accelerated growth for Amundi, as reflected in the record inflows and renewed net income growth. Our development strategy, focused on our retail and institutional business lines, will remain in place in 2016 with continued strong operating efficiency.”

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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