Amundi’s property beneath administration rose to an all-time excessive of €2.156tn (£1.82tn) simply earlier than saying its merger with funding supervisor Victory Capital.
In the course of 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 yr, as much as 30 June.
These inflows had been pushed by sturdy 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 by way of 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,” mentioned Valérie Baudson, chief govt of Amundi.
“For the reason that starting of the yr, the momentum of inflows has been significantly vital with our third-party distributor purchasers in addition to in Asia.
“The breadth of our providing has been a significant asset to fulfill the totally different wants of our purchasers, whether or not by our energetic administration options, specifically mounted revenue, our structured merchandise, or our passive administration funds.”
Learn extra: Amundi raises $436m from personal markets for brand 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 anticipated in early 2025, and goals at creating a bigger US funding platform to serve the purchasers of each corporations.
The transaction is anticipated to carry 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 personal markets asset supervisor Alpha
