Published 28 April, 2017
Published 28 April, 2017
This Friday April, 28th, Amundi publishes strong results in the first quarter of 2017 demonstrating its capacity to generate profitable growth on a recurrent basis.
Amundi’s assets under management amounted to €1,128bn at 31 March 20171, reflecting good business activity (net inflows of +€32.5bn in the first quarter 2017) and a positive market effect (+€12.5bn) owing to more favourable market conditions.
1. Encours sous gestion, y compris commercialisés, et collecte nette comprenant 100%, et non la quote-part, des encours sous gestion et de la collecte nette des JV, sauf Wafa au Maroc pour laquelle les encours et la collecte nette sont repris pour leur quote-part.
2. Hors coûts d’intégration de Pioneer Investments de 3,5 M€ après impôts
3. Hors coûts d’intégration de Pioneer Investments de 5,4 M€ avant impôts
The net inflows of +€32.5bn amount to 3% of assets under management at the beginning of the period. Business was driven by strong sales activity that remains well balanced between the two client segments: Retail and Institutional investors.
The Retail segment enjoyed a strong level of activity with net inflows of +€15.4bn in Q1 2017, generated by all distribution channels.
From a geographical perspective, net inflows were strong in all regions, with France accounting for a greater share this quarter thanks to significant investments in treasury products. International activities generated 36% of total net inflows in the first quarter of 2017, amounting to +€11.7bn, an increase of +26% on the first quarter of 2016.
mundi’s performance in Q1 2017 continued to follow a steady growth trajectory. Net earnings Group share, which reached €147m2 were up +13.2% on the first quarter of 2016, excluding €3.5m (net of tax) in expenses related to the forthcoming integration of Pioneer Investments.
The cost/income ratio also improves and stood at 51.5% (vs 53.7% at Q1 2017)3
1. Assets under management and inflows include assets under advisory and assets sold, and take into account 100% of inflows and assets managed by the Asian JVs. For Wafa in Morocco, assets are reported on a proportional consolidation basis.
2. Excluding costs associated with the integration of Pioneer Investments amounting to €3.5m after tax.
3. Excluding costs associated with the integration of Pioneer Investments amounting to €5.4m before tax.