Newsroom
Results for the First quarter of 2025: Record inflows at +€31bn
Paris, France, April 29, 2025
Record inflows:
- Assets under management[1] at an all-time high of €2.25tn at end of March 2025, +6% year-on-year
- Highest quarterly net inflows since 2021, at +€31bn in Q1
- +€37bn in medium- to long-term assets excluding JVs, new quarterly record
- Positive inflows in active management (+€6bn)
- Strong ETF net inflows and gain of a big ESG equity index mandate with The People's Pension (UK): +€21bn
Strong growth in profit before tax
- Profit before tax[2] of €458m, up +11% Q1/Q1, driven by:
- revenue growth (+11%)
- positive jaws effect
- improved cost-income ratio to 52.4%2
- Adjusted net income2,[3] close to €350m excluding impact of exceptional tax surcharge[4] in France (-€46m)
Confirmed strategic pillars success
- Strong inflows in growth areas:
- Third-party distribution +€8bn
- Asia +€8bn
- ETF +€10bn
- Amundi Technology: strong organic growth, integration of aixigo and revenues up +46% Q1/Q1
Amundi's Board of Directors met on 28 April 2025 chaired by Philippe Brassac, and approved the financial statements for the first quarter of 2025.
Valérie Baudson, Chief Executive Officer, said: "After a record year in 2024, Amundi continued this momentum in the first quarter of 2025. Quarterly net inflows are at their highest since 2021: our clients, whether they are individuals or institutions, have entrusted us with +€31bn more to manage. In particular, we won a major mandate from one of the UK's largest pension funds in the fast-growing market for Defined Contribution pension plans.
The business continues to reflect the relevance of our main growth pillars: net inflows were dynamic with Third-Party Distributors, in Asia and on ETFs, and Amundi Technology continues its sustained growth.
The three transactions signed in 2024 reinforce this solid organic growth: Alpha Associates and aixigo have already contributed positively to the quarter's results, the partnership with Victory Capital, closed on 1 April, now allows us to offer more US strategies while creating value for our shareholders.
Amundi's diversified model and agility allow us to effectively support our clients in all market environments and provide them with long-term growth opportunities. We continue to invest, redeploy our resources and optimise our cost base to adapt our platform, meet the changing needs of clients and develop new services for them. »
Footnotes
- Assets under management and net inflows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of assets under management and net inflows from Asian JVs; for Wafa Gestion in Morocco, assets under management and net inflows are reported in proportion to Amundi's share in the capital of the JV.
- Adjusted data: see p. 11
- Net income Group share
- Total tax expense in Q1 2025 of -€155m, of which the exceptional tax contribution (surcharge) in France booked in Q1 for -€46m; the total amount of the exceptional contribution estimated to be paid in fiscal year 2025 is estimated at -€72m; Q1 2025 adjusted net income including this surcharge was €303m.
Experts
Valérie Baudson
Member of Executive Committee of Crédit Agricole S.A., Chief Executive Officer of Amundi
Valérie Baudson is Deputy Chief Executive Officer of Crédit Agricole S.A. in charge of the asset management division and a member of the Executive Committee of Crédit Agricole SA since May 202[...]
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He has been working in the investment industry since 2010 and has been with the Group since that date. Before joining Amundi in 2010 as Head of Strategy, Nicolas held various positions[...]
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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
