Newsroom
Healthy inflows of +€17bn, net income[1],[2] up +6% Q1/Q1
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Net income Growth |
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High level of adjusted net income[1],[2] Q1 2024: €318m, +5.9% Q1/Q1
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High & Diversified |
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Record level assets under management: €2,116bn as of 31 March 2024, +9.4% year-on-year Net inflows Q1 2024: +€16.6bn
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Continuing Development |
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Development in line with the priorities of the 2025 Strategic Ambitions plan:
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Two |
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Closing on 2 April, ahead of schedule, of the acquisition of Alpha Associates, a specialist in the multi-management of private assets (private debt, infrastructures, private equity) Signing on April 15 of a strategic partnership memorandum of understanding[3] in the US with Victory Capital |
The Board of Directors of Amundi met on 25 April 2024 under the chairmanship of Philippe Brassac and approved the financial statements for the first quarter of 2024.
Valérie Baudson, Chief Executive Officer, stated:
“We had a particularly intense start to the year, both in terms of sales momentum and the development according to our strategic priorities. We were able to combine organic and external growth, in line with our 2025 Strategic Ambitions plan.
Our net inflows, which reached +€17 billion, are very balanced across the main client segments, expertise and geographies. This shows the good positioning of our range of solutions, which allows us to respond effectively to the needs of our clients. Our assets under management reached their highest level ever, at more than €2,100bn.
This activity is also reflected in our profitability: the net income1,2 for the first quarter, at €318m, is up +6% year-on-year, driven by the increase of our net management fees and the control of our costs.
Finally, two external growth operations that are significant for our future development mark the beginning of the year. The acquisition of Alpha Associates is now finalised, three months ahead of schedule. Starting in the second quarter, our clients will therefore benefit from new high-performance solutions in the multi-management of private assets. Secondly, the partnership[3] with the US manager Victory Capital will strengthen our presence in the United States and our US asset management expertise. It also brings strong value creation for our clients and our shareholders.
These initiatives, combined with our sustained organic investments, are promising for our future business and results.”
Footnotes
- ^ [1] Net income (Group share)
- ^ [2] Adjusted data: excluding amortisation of intangible assets (see note p. 8)
- ^ [3] Non-binding Memorandum of Understanding at this stage, subject to due diligence and negotiation of final agreements. Final agreements will be subject to the usual finalisation conditions and regulatory approvals. There is no guarantee that the parties will reach an agreement on the final documents and, if they are concluded, that the transactions will be carried out.
Contact
Corentin Henry
Head of Press Relations and Social Media
About Amundi
About Amundi
Amundi, the leading European asset manager, ranking among the top 10 global players[1], offers its 100 million clients - retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.2 trillion of assets[2].
With its six international investment hubs[3], financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 5,700 employees in 35 countries.
Amundi, a trusted partner, working every day in the interest of its clients and society.
Footnotes
