<!-- Swiftype Variables -->

Money Management

Amundi sees AUM rise 32% in 2017 on inflows, Pioneer acquisition

Amundi's assets under management grew 32% in 2017 to €1.43 trillion ($1.71 trillion), bolstered by net inflows.

The money management firm, which added €242.9 billion in assets after the acquisition of Pioneer Investments in July, said in an update Friday that AUM grew 2% over the past three months.

Net inflows totaled €70.6 billion in 2017, compared with net inflows of €62 billion for all of 2016. For the three months ended Dec. 31, net inflows were €13.1 billion, compared with net inflows of €31.2 billion for the three months ended Sept. 30.

Institutional assets under management grew 4.8% in 2017 to €902 billion, and rose 0.6% over the quarter. Institutional net inflows in 2017 totaled €21 billion, compared with net inflows of €28.9 billion in 2016.

Over the quarter, Amundi's institutional business saw €1.1 billion in net outflows, compared with net inflows of €18 billion for the previous quarter, and €2.1 billion for the year-earlier quarter.

The update said the net outflows were attributable to Treasury strategies, which it said was a "seasonality effect."

Revenue was €2.7 billion for the year and income was €918 million, up 7.5% and 14.1%, respectively year-over-year.