A record fourth quarter has lifted the assets under management of Paris-based asset manager Amundi to a new high of €1.65 trillion, a rise of 16% from 2018.
According to its full-year results for 2019, published on 12 February, Europe’s largest fund house enjoyed its “best ever” annual investor inflows of €107.7 billion, of which a record net €76.8 billion flowed in during the fourth quarter – a step change from outflows of €6.5 billion in the fourth quarter of 2018.
This year’s results were boosted by the winning of a €59.6 billion pension fund mandate by Amundi’s Indian joint venture with the State Bank of India.
Net revenues rose 4.9% to €2.7 billion, adjusted net income rose 6.6% to €1,009 million while net profit for the group rose 12.2% to €959 million.
Yves Perrier, Amundi’s chief executive, hailed a tenth consecutive year of net income growth. “These excellent results are driven by high business activity and by greater operational efficiency,” he said.
“Amundi enjoys a strong development dynamic which will be amplified with two strategic iniatives: the signing of a partnership in Spain with Banco Sabadell and the creation of a new subsidiary in China, in partnership with Bank of China.”
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