According to the firm’s full-year results published today (7 February), AUM exceeded €2trn at the end of 2023, a 7% increase over one year and a 3.2% jump in the final quarter. This led to a 3.9% rise in net income to €1.2bn for the full year and 7.9% for the fourth quarter.
Europe’s largest asset manager enjoyed inflows of €26bn throughout the year, boosted by €19.5bn inflows in the fourth quarter alone.
Amundi to acquire private markets specialist Alpha Associates
The December rally contributed to strong market performance in Q4 of €63.8bn, accounting for more than half of the total market effect over one year (€126.8bn).
Passive management brought in €16.6bn over the course of the year, of which €13bn in ETFs, driven by commercial synergies from the integration of Lyxor, the development of the fixed income range and the expansion of the ETF range in responsible investment.
Active management experienced outflows of €21.3bn, primarily in multi-assets and equities, while bond strategies gathered €9.3bn and structured products €5.6bn.
Real and alternative assets bled €1.3bn, mainly from real estate outflows of €2.1bn, which were partly offset by net inflows into private debt and multi-management.
“All throughout the year, Amundi has successfully supported its clients with solutions tailored to market conditions, in bonds, passive management, and treasury products, where we enjoy widespread recognition of our expertise,” said CEO Valérie Baudson.
“By the same token, our structured products and Target Maturity bond funds, a segment in which Amundi is the global leader, have been particularly attractive to our clients, in a context of high rates and inflation.”
Amundi continues ETF merger spree with government bond fund integration
The results came alongside the announcement of Amundi’s acquisition of Zurich-based private markets specialist Alpha Associates in a €350m deal, as the firm looks to expand its presence in the sector.
“This move is in perfect alignment with our strategic objectives and criteria for acquisition, and constitutes yet another driver for growth and value creation for our clients and our shareholders,” said Baudson.
Read the full article here
