Amundi's reported €1.083 trillion ($1.141 trillion) in assets under management as of Dec. 31, up 9.9% from three months earlier and up 2.8% over the year, said a financial update Friday.
Net inflows for the quarter were €23.1 billion, compared with €22.3 billion in net inflows for the three months ended Sept. 30, and €14.1 billion in net inflows for the three months ended Dec. 31, 2015.
Inflows for the year ended Dec. 31 totaled €62.2 billion, compared with a total €79.9 billion of net inflows for the previous year.
Institutional assets under management grew 0.5% over the quarter and 7.6% for the year, to €777 billion. Institutional net inflows for the quarter were €2.5 billion. That compares with €18.3 billion in net inflows over the three months ended Sept. 30, and €6.9 billion in net inflows for the three months ended Dec. 31, 2015. For the year ended Dec. 31, institutional net inflows were €27.5 billion, compared with €38.4 billion for the year ended Dec. 31, 2015.
Over the year, Amundi's acquisition of a majority stake in KBI Global Investors and the merger of Amundi and Credit Agricole Immobilier's real estate businesses added a total €13.6 billion in assets under management.
The firm announced its acquisition of Pioneer Investments last year. The update said the preparation of the integration plan is being completed as scheduled, and all requests for the necessary regulatory and competition authorizations have been filed. The acquisition is expected to close before the first half of this year.
“The 2016 results confirm the profitable growth trend Amundi has demonstrated since it was created,” said CEO Yves Perrier in a statement accompanying the update. “The acquisition of Pioneer Investments will reinforce its business model and its development potential by strengthening its areas of expertise and its ability to innovate in order to serve our individual and institutional clients.”
