Paris-based Amundi, Europe’s largest asset manager, saw profits rise in the third quarter following inflows from institutional and international clients.
Adjusted net profits for the quarter rose to €230 million, up 5.8% compared with the third quarter of 2017.
Net profits in the nine months to September rose 11% to €721 million.
Net inflows during the quarter amounted to €6.1 billion. In the year to September, net inflows amounted to €48.5 billion, close to the firm’s average yearly target of €50 billion.
Amundi chief executive Yves Perrier said: “In a more difficult environment, Amundi’s results over the first nine months of 2018 are sharply up driven by robust business activity and by an improved operational efficiency.
“These good performances reflect the strength of the group’s business model, based on its business lines diversity such as client segments, investment expertise and regions.”
Assets under management at the end of September were €1.475 trillion, up 5.4% from 12 months previously.
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