France’s Amundi reports $8.5 billion in net inflows in second quarter
PARIS (Reuters) – French asset manager Amundi reported on Friday 7.2 billion euros ($8.55 billion) in net inflows in the second quarter, saying investors’ appetite for more risky assets such as equity had improved in the quarter.
Amundi, which is majority-owned by French bank Credit Agricole, said inflows in medium and long term assets have offset outflows in treasury funds.
The company also said it has recorded “exceptionally high” performance fees at 155 million euros that compared to a quarterly average of 42 million euros from 2017 to 2020.
“This exceptional level was largely a reflection of the 12-month increase in the equity markets and should normalise over the next few quarters”, Amundi said in a statement.
At the end of June, its assets under management amounted to 1.8 billion euros, up by 2.2% from end of March. Assets were up by 12.7% year-on-year.
Amundi, which bought asset manager Lyxor from Societe Generale this year, said it planned to complete the integration at the end of 2021.
“The acquisition of Lyxor, whose integration is being actively prepared, will be a new growth driver”, Amundi CEO Valerie Baudson said.
($1 = 0.8418 euros)
(Reporting by Matthieu Protard, Editing by Sarah White)