High net inflows of +€14bn and net income²,³ up Q3/Q3 to €290m
High inflows & increase in assets under management
Q3 net inflows: +€13.7bn, in MLT assets1, Treasury products and JVs
- In both client segments, Retail and Institutional
- Continued success of new solutions adapted to the market backdrop: structured products, fixed income (Buy & Watch) and Treasury products
- Healthy net inflows in active management fixed income funds: +€6bn
Despite a risk-off environment: weak flows in the European asset management market1
Assets under management of €1,973bn at 30 September 2023, up +4.1% YoY, up +0.6% QoQ
Profitability maintained at a high level
Q3 2023: Adjusted net income2,3 of €290m, +3% Q3/Q3
- thanks to a diversified profile and operational efficiency
- cost/income ratio of 54.4%3, despite inflation and the market environment
9M 2023: Adjusted net income2,3 of €910m, +4.0% 9M/9M
- cost/income ratio of 53.4%3 over nine months
Continued development in our strategic priorities
Passive management - Q3 inflows: +€10.8bn
Asia - Q3 inflows: +€3.4bn, with continued development in India, stabilisation in China
Responsible Investment - extension of the range
- launch of an infrastructure fund to invest in renewable energy production4
- extended range of products aligned with a Net Zero trajectory, and of Responsible Investment ETFs (32%5 as at 30 September 2023)
Amundi’s Board of Directors, chaired by Philippe Brassac, convened on 26 October 2023 to review the financial statements for the third quarter and first nine months of 2023.
Amundi posted a good performance in terms of both business activity and financial results in the third quarter of 2023.
Our solutions, adapted to the high-interest-rate and high-inflation environment, continued to attract many clients against a backdrop of uncertainty, still characterised by significant risk aversion. Amundi generated high inflows of +€14bn, driven by our two strategic development priorities, passive management and Asia.
Net income was high, reflecting Amundi’s good operational efficiency and diversified profile. Quarter after quarter, these results confirm the Group's effective positioning on long-term growth trends and the relevance of our strategic plan.
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[1] Medium/Long-Term Assets, excluding JVs
[2] Net income, Group share
[3] Adjusted data: excluding the amortisation of intangible assets and Lyxor integration costs in 2022 (see Note on p. 8).
[4] As part of the Alba 2 investment programme
[5] In number of ETFs
