Amundi’s belongings underneath administration rose to an all-time excessive of €2.156tn (£1.82tn) simply earlier than saying its merger with funding supervisor Victory Capital.
Through the firm’s first half and second quarter 2024 outcomes, it was revealed that Amundi noticed internet revenue development of 9.4 per cent and internet inflows of €15bn in the course of the second quarter of the 12 months, as much as 30 June.
These inflows have been pushed by robust efficiency by the corporate’s third-party companions in addition to its Asia operations.
Learn extra: Amundi and Victory Capital announce plan to mix forces
“Amundi achieved superb efficiency within the second quarter of 2024, each when it comes to exercise, with internet inflows of over €15bn, and monetary outcomes, with a internet revenue up 9 per cent in comparison with the identical interval in 2023,” stated Valérie Baudson, chief government of Amundi.
“For the reason that starting of the 12 months, the momentum of inflows has been notably vital with our third-party distributor purchasers in addition to in Asia.
“The breadth of our providing has been a significant asset to satisfy the totally different wants of our purchasers, whether or not by our lively administration options, particularly fastened revenue, our structured merchandise, or our passive administration funds.”
Learn extra: Amundi raises $436m from non-public markets for brand spanking new sustainability fund
On 2 April, Amundi closed the acquisition of Alpha Associates to create Amundi-Alpha Associates. This new enterprise will cowl the group’s complete multi-asset vary, and can quickly be rolled out to institutional distribution groups. Amundi additionally hinted that new methods shall be launched by the Alpha model.
In the meantime, on 8 July Amundi formally established a strategic partnership with US asset supervisor Victory Capital.
Amundi has now confirmed that the closing of the transaction is predicted in early 2025, and goals at creating a bigger US funding platform to serve the purchasers of each corporations.
The transaction is predicted to convey a low single-digit accretion for Amundi shareholders, in addition to boosting its adjusted internet revenue and earnings per share.
Learn extra: Amundi to amass non-public markets asset supervisor Alpha