Amundi's Financial Performance and Asia Expansion Strategy

Inflows of €35bn in Q3 2020, and net income¹ of €235m, i.e. +2.3% vs Q3 2019

Ambitious targets for Asia, thanks in particular to the new subsidiary in China with BoC²

Business activity

AuM³ of €1,662bn at 30 September 2020, an increase of +6.4% year-on-year (+4.4% vs. the end of June 2020)
High inflows of +€34.7bn in Q3, fuelled by all segments:
+€22.0bn⁴ in treasury products
+€4.7bn in MLT assets^3,5
Sustained momentum in the JVs (+€8.1bn)

Results

Solid results:
In Q3:
- adjusted net income¹ still high: €235m (+2.3% vs. Q3 2019 and +1.0% vs. Q2 2020)
- cost/income ratio of 51.2%¹, stable
Over the first nine months of the year, adjusted net income¹ of €674m (-8.3% vs. 9M 2019), virtually stable excluding financial income (impacted by the market downturn

Asia

Positions that are already strong across the entire region (€303bn in AuM⁶), thanks to a pragmatic approach combining JVs and subsidiaries
The new subsidiary with BoC WM has significantly enhanced the potential for growth in China
Ambitious targets for 2025:
For Amundi BoC WM: more than €60bn in AuM and more than €50m in net income⁷
In Asia, an AuM target of €500bn

Amundi’s Board of Directors, chaired by Xavier Musca, convened on 29 October 2020 to review the financial statements for the third quarter and first nine months of 2020.

Yves Perrier

Amundi's CEO

In the third quarter of 2020, Amundi posted solid operating performance both in terms of business activity and results. The high level of inflows (+€35bn) was driven by all client segments, and net income1 (€235m) increased +2.3% compared to Q3 2019.

Thanks to its diversified business model and its operating efficiency, Amundi is therefore confirming its ability to combine growth and profitability, in spite of a market environment, which remains fragile due to the Covid-19 crisis.

Asia is a major focus of Amundi’s expansion strategy. In the space of five years, Amundi’s Asian AuM tripled, reaching more than €300bn. The launch of the new subsidiary in China with BoC give Amundi a unique position in this fast-developing market. Thanks to this new growth driver and the favourable momentum of its other activities in Asia, Amundi is targeting AuM of €500bn in the region by 2025.

_{Adjusted data: excluding amortisation of distribution contracts; See page 8 for definitions and methods.}
_{Bank of China}
_{Assets under management and net inflows including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed and take into account 100% of the Asian JVs’ assets under management and net inflows. For Wafa in Morocco, assets are reported on a proportional consolidation basis.}
_{Excl. JVs}
_{Medium-Long-Term Assets: excluding treasury products}
_{At 30/09/2020}
_{Net contribution at 100%}