Assets under management at Amundi increased 0.2% in the three months ended March 31, to €987.2 billion ($1.1 trillion), with net inflows partially offset by negative market effects.
For the 12 months ended March 31, assets under management grew 3.4%, showed figures in a financial update released Friday.
Net inflows totaled €13.8 billion, compared with €14.1 billion for the previous quarter, and €24 billion of net inflows for the year-earlier quarter. Net inflows were partially offset by negative market effects, of €11.6 billion. Market effects in the three months ended Dec. 31 added €19 billion; and in the three months ended March 31, 2015, added €47.5 billion. Amundi said in its update that equity markets in France and Europe as a whole were an average of 8% to 11% weaker in the first quarter 2016, vs. the same quarter 2015, due to concerns about the global economy and low commodities prices, particularly oil.
Institutional assets under management totaled €730 billion, up 1.1% compared with figures as of Dec. 31. Institutional net inflows were €12 billion, compared with €14 billion for the previous quarter. Figures for the year-earlier quarter were not available.
Equity assets under management fell 2.4% to €122 billion, although Amundi recorded net inflows of €2.3 billion for the asset class. Fixed-income assets were flat at €498 billion for the quarter, with €1.7 billion of net inflows. Assets under management in multiasset strategies fell 0.9% to €116 billion, despite €1.4 billion of net inflows; while specialized and structured strategies assets increased 8.3% to €65 billion, with €1.4 billion of net inflows. Amundi’s treasury assets under management also grew, by 3.3% to €187 billion, and recorded €7 billion of net inflows. Comparable figures for the first three months of 2015 were not available.
“The solid net inflows and earnings in the first quarter, achieved in a challenging market environment, are a reflection of the strength of Amundi’s business model, based on broad business diversification by expertise, client segment and region,” said Yves Perrier, CEO, in a statement accompanying the financial update.
