Amundi posts 8bn inflows in 2013

Amundi demonstrated a strong 2013 according to its annual results, taking in 10.3bn against a difficult backdrop.

Amundi posts 8bn inflows in 2013

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The group, which is part of the Crédit Agricole group,  said net inflows came from all sectors except for French retail networks. The breakdown was €12.7bn from institutional investors and €4.8bn from the international networks. A further €2.8bn of net inflows came from third party distributors.

The French retail networks saw outflows of €9.9bn, but this was lower than in 2012. Amundi’s market share (in this space) increased by 0.3 per cent over the year to 26.9 per cent.

Total assets under management amounted to €777.1bn compared with €739.6bn at 31 December 2013, up 5.1 per cent on the year.

Long assets made up the majority of inflows, with €9.1bn. Money market assets ended the year up €1.2bn in a contracting market.

Revenues increased by 3 per cent over the year while operating expenses remained under control, increasing by 2.3 per cent.

Fourth quarter revenues were up 6.4 per cent year-on-year, driven mainly by a high level of performance-based commissions, while growth in operating expenses was contained to 1.3 per cent.

Private banking also held up in a difficult market, the statement said, with AUM standing at €132.2bn, with a €4.3bn gain generated by market movement.

As such, AUM rose by 2.3 per cent in France over the full year to €61.8bn while they decreased abroad by 1.9 per cent to €70.4bn.

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