French asset manager Amundi reported record inflows in the third quarter of the year while Janus Henderson saw outflows, albeit at a reduced level.
Amundi’s assets under management (AuM) increased to over €1.5 trillion, partly due to net new cash of €42.7 billion.
Much of this was for “medium-long-term” products, which had €25.3 billion of inflows.
Treasury products attracted over €17 billion of cash. This contrasted with the “seasonal” outflows of the first half, the fund house reported.
Amundi’s gross operating income reached €321 million. Chief executive Yves Perrier said: “Gross operating income posted an almost 10% increase, thanks to a buoyant activity and to the impact of synergies associated with the integration of Pioneer. With this integration completed, Amundi is now fully focused on its development.”
According to a recent report by the Thinking Ahead Institute – an offshoot of Willis Towers Watson – Amundi was the fifth fastest growing asset manager from 2013 to 2018 in terms of AuM.
London-based Janus Henderson, on the other hand, continued to see outflows – albeit at a slower rate than in the previous quarter.
Redemptions of $3.5 billion (€3.13 billion) caused AuM to shrink by 1% to $356.1 billion.
The firm had higher net income: $112.1 million versus $109.4 million in the previous quarter. Adjusted net income reached US$124.7 million.
Dick Weil, the firm’s chief, said: “We are pleased that firm-wide investment performance continues to be strong and in areas that were previously experiencing weaker performance we are seeing signs of improvement. This combination is leading to new business and market share gains across a number of regions and capabilities.
“That said, despite the improvement, we remain cautious about the net flow outlook for the balance of 2019 as we continue to see headwinds in several areas of our business.”
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