Finance
Amundi posts in-line Q4 inflows on risk-averse products
Published by Global Banking and Finance Review
Posted on February 4, 2025
Editorial & Advertiser disclosure
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
PARIS (Reuters) - Amundi, Europe's biggest fund manager, posted in-line quarterly inflows on Tuesday, as demand for risk-averse products remained strong over the last three months of the year.
Net inflows in the fourth quarter were 20.5 billion euros, bringing total assets under management (AUM) to a record 2.24 trillion euros ($2.30 trillion) at the end of December, up 10% from a year earlier.
Demand for safe investments such as medium and long-term assets through exchange-traded funds and exchange-traded commodities brought 10.5 billion euros of net inflows, bringing total ETF AUM to 268 billion euros at the end of December, up 30% from a year earlier.
In a call with reporters, Amundi Chief Executive Valerie Baudson signaled the group was still open to acquisitions, as the industry reignited a race to size after BNP Paribas, France's biggest bank, announced a 5.1 billion-euro acquisition of AXA's asset management arm.
"We are still a potential market consolidator," she said.
Amundi was among the rival bidders for AXA IM, people with knowledge of the matter have told Reuters. French bank BPCE and Italian insurer Generali announced the tie-up of their respective asset management activities two weeks ago.
Amundi's fourth-quarter adjusted net income was 377 million euros, up 20.5% and beating the 348-million euro analyst average estimate.
Adjusted net revenues over the period were up by close to 15% from a year earlier to 924 million euros. Amundi said it will propose a dividend of 4.25 euros per share at its shareholder meeting in May.
"The very beginning of 2025 confirms a very good sales dynamic, and we're confident about 2025 given all the partnerships and discussions we have with our customers," Baudson told reporters.
The group said it had achieved its main targets under its 2025 strategic plan a year in advance, including its goals around cost income and average annual net income growth.
(Reporting by Bertrand de Meyer and Mathieu Rosemain; Editing by Sam Holmes)