French asset management giant Amundi achieved net inflows of €55.4bn during 2024, according to its full-year results published today (4 February 2025).
Some €34bn of these flows were into what the firm describes as ‘medium to long-term assets’, with AUM for the year reaching double the amount seen in 2023. For the final quarter of the year, net inflows reached €20.5bn, which included €18bn into medium to long-term assets.
Within ‘medium to long-term assets’, Amundi said most of the flows over the last quarter came from ETFs at €10.5bn, while actively-managed funds pulled in €5.5bn on a net basis. Actively-managed fixed income strategies proved most popular, with gross flows of €9.1bn.
The retail segment of Amundi’s business experienced its highest level of net inflows since 2021 at €11.5bn, with third-party distributers pulling in €12.7bn of capital. The institutional arm of the business achieved net inflows of €7.1bn, with €10.8bn coming from medium to long-term assets.
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Market performance and currency moves accounted for €140.1bn throughout the course of the year, and €28.1bn during the final quarter.
In terms of assets under management, ETFs reached €268bn by the end of December, marking a 30% year-on-year increase. Asian assets under management rose by 17% to €469bn, with €28bn in inflows throughout the course of the year. Amundi’s third-party distribution arm grew by 27% year-on-year to reach €401bn, while fixed income capabilities amounted to €1,190bn in assets under management.
Overall, Amundi’s total AUM increased by 10% over the year, and by 2.2% over the past quarter, to a record high of €2,240bn.
From a business perspective, adjusted net income during Q4 reached €377m, marking a 20% increase compared to the same time period in 2023. Adjusted net revenues over the quarter amounted to €924m, a 14.6% uptick compared to Q4 2023.
Valérie Baudson, chief executive officer, said: “2024 was a record year for Amundi, both in terms of results and activity. Our net income has reached €1.4bn and our net inflows have doubled compared to 2023. Our assets under management are at an all-time high, at more than €2.2trn, thanks to very dynamic inflows in several strategic areas, such as third-party distributors, ETFs and Asia. We have also confirmed and expanded our leading position in fixed income strategies.
“Our cost/income ratio, at the best level in the industry, is already in line with our 2025 target. This strong financial performance allows us to propose an increased dividend, offering an attractive return for our shareholders.”