The pulling of €10.3 billion from Amundi by institutional investors during the second quarter has slowed the rate of inflows into the Paris-based fund manager.
Despite net new money from retail investors of €12.9 billion, second quarter net inflows were €2.6 billion, down steeply from first quarter inflows of €39.8 billion.
Confirming its position as Europe’s largest fund manager, total assets under management stood at €1.47 trillion at the end of June.
Amundi chief executive Yves Perrier said that during the first half of the year the firm had come in “ahead of its strategic roadmap for both business activity and profitability”.
“These excellent results, in a less favourable environment, confirm the strength and the resilience of the group’s business model, which relies on its diverse business lines,” he said.
He added that the integration of Pioneer Investments, the Italian fund business which Amundi bought last year from Unicredit, had been successful and was now “bearing fruit”.
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