French asset manager Amundi has said that its assets under management stood at €1.45 trillion at the end of March 2018, a rise of 6% compared to €1.37 trillion a year ago.
The company’s net inflows were €39.8bn in the quarter, with the retail segment posting net inflows of €21.7bn and the institutionals segment recording net inflows of €18.1bn.
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The firm’s adjusted cost/income ratio was 50.7% as at 31 March 2018, as against 54.4% last year.
The company reported an adjusted net income – group share of €240m for the first quarter of 2018, an increase of 15% from €208m a year ago. Net revenue was €663m, a rise of 2% from €652m in the previous year.
Adjusted gross operating income increased 10% to €326m from €297m a year earlier, while adjusted operating expenses dropped 5% year-on-year to €336m.
Amundi CEO Yves Perrier said: “Amundi’s very good performance in the first quarter of 2018, driven by all business lines and investment expertise, confirms the value of its business model, further strengthened by the acquisition of Pioneer, whose integration is on track with objectives but in advance with the announced timeline.”
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