Amundi’s Assets Under Management Rise 14%

In the second quarter, the Amundi Group recorded buoyant activity, fuelled by innovations and commercial successes in the strategic priorities of its Invest for the Future 2028 plan:

Digital players‘ net inflows totalled +€4bn.

On retirement, Amundi collected +€8bn in Q2. In France, net inflows from collective and individual Retirement Savings Plans (PER) showed strong growth in the first half of the year. In Germany, two distribution agreements for “pillar 3” pension products (AVD⁴) were signed with leading distributors.

Northern Europe recorded net inflows of +€8bn, or a third of net inflows, coming in particular from Germany with digital players, from Belgium thanks to sustained activity with our partner Crelan, and from Ireland with an insurer. The net inflows are therefore diversified by country and type of clients.

Asia collected +€9bn, or nearly 40% of the total, of which almost half coming from direct distribution (excluding JVs). Almost all countries posted positive net inflows. In Japan, an innovative thematic fund on energy transition materials, launched in partnership with a broker, has raised +€1.2bn in 4 months.

In India, the listing of our JV SBI Funds Management was a great success, with a very strong oversubscription of the offering. Amundi sold 3.7% of the share capital, with a capital gain net of tax and fees of circa €300m that will be recorded in Q3 results. Its stake after the IPO, i.e. 32.6%, has a value of €3.5bn.

In active management, net inflows reached +€9bn, particularly in fixed income. The performance of flagship funds, including Global Aggregate or Emerging Markets Bond, positions them in the top decile of their respective categories over one year. The deployment of the “Income” range is complete and it is meeting with its first successes in Asia in particular. Finally, Victory Capital’s US and global strategies distributed in Europe and Asia, saw their net inflows increase quarter after quarter, +€2.9bn in Q2.

The ETF platform exceeded €400bn in assets under management at the end of June, thanks to net inflows of +€12bn in Q2. Two new active ETFs were launched and two new clients were signed for our ETF-as-a-service platform. Amundi has launched a range of innovative ETFs, offering geographic weighting according to each country’s GDP, as well as new thematic ETFs.

In private assets, Amundi Alpha’s multi-management strategies recorded net inflows of +€0.5bn, thanks to several mandate wins with institutional clients.

In digital assets, two tokenised fund shares, in euro and US dollar, were issued for Ant International in Asia.

In responsible investment, after the launch of the Global Green Bond Initiative Fund in Q1, net inflows started with +€1bn in Q2. An OCIO mandate with a European insurer has been transformed into Net Zero, for €1bn.

Amundi Technology recorded another strong quarter with revenue growth of +25%, of which +30% for its license fees.

In Q2, a new client was signed with SpareBank1, the alliance of Norwegian regional banks, for digital advisory services, complementing the service offering to advisors and external fund selection.

In addition, a successful client go-live was launched for La Banque Postale Asset Management (LBP AM), the European asset manager managing €75bn, for its portfolio management solution (Alto Investment).

Several AI use cases have been successfully deployed by Amundi Intermediation, the entity that manages the execution of orders for Amundi’s portfolio management teams and for its clients which have outsourced their execution to Amundi.

In addition to the classic use cases applied to Know your Broker and Request for Proposals procedures, AI has been deployed to select the best execution strategies based on the characteristics of the order and market conditions, and to help fixed income investment managers to choose the best strains to trade according to their investment choices. In both cases, an improvement in the quality of execution, which is already at the best levels of our peers, can be quantified.

These developments benefit Amundi’s management teams, but also clients which have outsourced their execution to Amundi Intermediation.

Source: Amundi