H1 2018 results: Amundi “ahead of its roadmap”

Paris-headquartered asset management group Amundi has published its financial half-year results.

Amundi’s net income for the the six first months of the year came at €454m as of 30 June 2018, up 58% year-on-year while it reached €492m on an adjusted basis (+13.6% vs. H1 2017). Accounting net income in Q2 2018 was €234m.

In Q2 2018, Amundi boarded new net inflows of €2.6bn. In detail, the manager boarded €9.3bn of net inflows in multi-assets products, €2.4bn in equity funds, €0.4bn in real, alternative and structured products while treasury and bonds products that have faced outflows of €3.6bn and €5.7bn respectively.

Combined with the €39.8bn inflows seen in Q1 2018, Amundi’s inflows for the first half of the year amounted to €42.4bn against €26.3bn in H1 2017.

“After an exceptionally high first quarter, inflows in the second quarter were also solid (+€2.6bn vs. -€2.9bn in Q2 2017), as the continued inflows in medium/long-term assets offset the seasonal treasury product outflows,” Amundi commented.

During Q2 2018, net inflows from retail clients came at +€12.9bn, due to momentum in the partner networks (+€2.7bn) and in all of the Asian joint ventures (+€11.4bn). Net outflows of – €10.3bn were recorded on the institutional segment, “related to seasonal outflows in treasury products used by corporates (in particular to pay dividends), after very strong net inflows in Q1 2018.”

Assets under management of Amundi stood at €1.46trn as at 30 June 2018, up 7.5% year-on-year.

Yves Perrier, CEO of Amundi, said: “In the first half of 2018, Amundi came in ahead of its strategic roadmap for both business activity and profitability. The integration of Pioneer has been successfully developed and is bearing fruit.

“These excellent results, in a less favourable environment, confirm the strength and the resilience of the Group’s business model, which relies on its diverse business lines (client segments, investment expertise and regions). Amundi has a significant growth potential, based on strengthened investment expertise and a powerful international network.”

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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