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Money Management

Amundi’s AUM down 3.4% in fourth quarter, flat for year

Amundi's assets under management declined 3.4% in the quarter to €1.425 trillion ($1.63 trillion) but were flat for the year ended Dec. 31.

The firm said in an update Wednesday that it had €6.5 billion in net outflows for the quarter ended Dec. 31 vs. €6.1 billion in net inflows for the previous quarter and €13.1 billion in net inflows for the year-earlier quarter.

Institutional AUM fell 3.4% for the three months ended Dec. 31 and slipped 1% to €893 billion in the 12-month period. Institutional net outflows were €7 billion for the quarter compared to €10.5 billion in net inflows for the previous quarter. For the quarter ended Dec. 31, 2017, net outflows were €1.1 billion.

Net revenues fell 0.3% for the quarter to €620 million and declined 17.5% vs. net revenues for the quarter ended Dec. 31, 2017. Net income was €192 million, down 8.1% over the quarter and down 8.1% compared with figures for the year-earlier quarter.

Negative market and foreign-exchange effects contributed to a €43.7 billion drop in assets under management.