A high level of accounting net income: €235m up by 6% vs. Q1 2018 and by 22% vs. Q4 2018
Results
A new improvement in results:
- A high level of accounting net income at €235m, up by +6.4% vs. Q1 2018 and +22.4% vs. Q4 2018
- Adjusted net income1 of €247m, up by +3.2% vs. Q1 2018 and by +10.0% vs. Q4 2018
- Net management fees of €621m, up by +0.9% on Q1 2018 and +0.6% on Q4 2018
- Cost/income ratio1 of 50.9%, stable vs. Q1 2018 and improved by 1.6pt compared to Q4 2018
Business activity
- Assets under management2: €1,476bn at 31 March 2019, +3.6% vs. 31 December 2018
- Steady net inflows2 in Medium-Long-Term Assets[3], in both the Retail and Institutional segments: +€8.4bn excluding reinternalisation of a specific mandate in Italy
- Total net outflows of -€6.9bn due to:
- substantial outflows from treasury products (-€9.0bn)
- the reinternalisation (in January) of a specific institutional mandate in Italy (-€6.3bn)
Amundi’s Board of Directors, chaired by Xavier Musca, convened on 25 April 2019 to review the financial statements for the first quarter of 2019.
- Adjusted data: excluding amortisation of the distribution contracts and, in 2018, excluding costs associated with the integration of Pioneer.
- Assets under management and net inflows include assets under advisory and assets sold, and take into account 100% of assets under management and net inflows on the Asian JVs. For Wafa in Morocco, assets are reported on a proportional consolidation basis.
- Medium-Long-Term (MLT) Assets excluding treasury products: equity, fixed income, real, alternative and structured assets.