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Money Management

Amundi’s AUM rises 3.6% despite €6.9 billion in outflows

Amundi's assets under management reached €1.48 trillion ($1.66 trillion) as of March 31, up 3.6% from Dec. 31 and up 1.7% from March 31, 2018, the company said in its earnings release Friday.

The firm had €6.9 billion in net outflows for the quarter ended March 31 vs. €6.5 billion in net outflows for the previous quarter and €39.8 billion in net inflows for the year-earlier quarter.

Institutional AUM reached €920 billion as of March 31, flat from a year earlier. Institutional net outflows were €1.5 billion for the quarter compared with €18.1 billion in net inflows for the fourth quarter and net outflows of €7 billion for the first quarter of 2018.

Net revenues were €659 million for the quarter, up 6.2% from the previous quarter but down 0.6% from the year-earlier quarter. Net income was €235 million, up 22.4% from the fourth quarter and up 6.4% from the first quarter of 2018.