Amundi exceeds expectations in the first quarter with an increase in outstanding amounts in Asia

April 26 (Reuters) – Amundi reported higher-than-expected quarterly inflows on Friday as the dynamism of its business in Asia and investor appetite for risk-resistant assets supported asset growth.

The group’s total assets under management increased by 16.6 billion euros in the first quarter, bringing the total to 2,116 billion euros, a new record according to the group.

In one year, outstanding amounts increased by 9.4%.

Analysts expected an increase of 4.6 billion euros, according to a Visible Alpha consensus cited in a note from RBC (Royal Bank of Canada).

“What characterizes this collection is that it is very diversified,” said Valérie Baudson, Managing Director of Amundi, during a conference call with journalists, highlighting the demand from private and institutional clients for safer investments such as cash products. and long-term assets through exchange-traded funds (ETFs).

The leading European asset manager, controlled by Crédit Agricole, also recorded a 5.9% increase in its adjusted net profit to 318 million euros, above the average analyst forecast of 312 million euros according to a consensus compiled by Amundi. (Written by Augustin Turpin with Mathieu Rosemain, edited by Blandine Hénault)