Paris-headquartered Amundi has reported net inflows of €32.5bn in the first quarter of the year, contributing at 3% to the firm’s AUM growth.
As of 31 March 2017, Amundi had assets under management of €1.12trn, up 4.2% quarter-on-quarter. In addition to net inflows, the firm benefitted from a positive market effect (+€12.5bn).
In detail, Amundi saw inflows of €15.4bn on the retail segment in Q1 2017, primarily coming from joint-ventures in Asia (+8.1bn) and third-party distributors (+4.9bn).
On the institutional side, net inflows of €17.1bn were recorded in the first quarter of the year.
Net inflows from corporate clients were up sharply, remaining at a high level in France and achieving a strong momentum in Europe, especially in the United Kingdom and the Netherlands, said Amundi.
Treasury products have drawn most of the net new money with medium/long-term assets accounting for +€10.6bn.
Amundi noted investors’ interest for new mainstream asset classes such as real estate and ETFs has grown.
However, real, alternative and structured assets have faced negative inflows due to the end of an ABS portfolio management mandate for the ECB (€6.9bn).
Excluding this, net inflows on the asset class were positive, Amundi specified.
Also Amundi share’s net earnings were up 13.2% in Q1 2017 on a quarterly basis, excluding €3.5m (net of tax) in expenses related to the forthcoming integration of Pioneer Investments.
Amundi’s chairman Xavier Muscat said: “Amundi’s solid results in the first quarter of 2017 demonstrate its capacity to generate profitable growth on a recurrent basis. The forthcoming integration of Pioneer Investments, which should be effective around the end of the first half, will extend this trend and reinforce Amundi’s leadership in Europe.”