Amundi results for 2016 and Q4 2016:
Strong net inflows (+€62bn) and significant growth of earnings (+7.7% at €568m)
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Amundi’s Board of Directors met on 9 February 2017 to review the financial statements for the fourth quarter of 2016 and for 2016 as a whole.
Commenting on the results, Xavier Musca, Chairman of the Board of Directors, said:
“All business activity and profit targets announced during Amundi’s IPO in November 2015 were achieved in 2016. In addition, the acquisition of Pioneer Investments, which should come into effect at the end of the first half of 2017, will bolster Amundi’s leading position in Europe.”
Yves Perrier, Chief Executive Officer, added:
“The 2016 results confirm the profitable growth trend Amundi has demonstrated since it was created. The acquisition of Pioneer Investments will reinforce its business model and its development potential by strengthening its areas of expertise and its distribution ability in order to serve its individual and institutional clients.”
Business activity: strong net inflows in 2016, especially in the 4th quarter
2016 confirmed a powerful growth trend despite a market environment that is full of contrasts and generally unfavorable for business. After some volatility and a decline early in the year (macroeconomic concerns, Brexit vote), equity markets recovered in all regions during the second half. In fixed income markets, rates fell during the first nine months of the year, but began to climb back up in the fourth quarter.
In 2016, Amundi’s assets rose by + 9.9% to 1,083 billion, under the combined effect of strong inflows (+€62.2bn, i.e. 6% of assets at the beginning of the period), a favourable market effect (+€21.8bn) and a positive scope effect (+€13.6bn) related to the integration of KBI GI and Crédit Agricole Immobilier’s real estate management activities (CAI Investors).
Amundi’s net inflows (+€62.2bn) are above the annual target, thanks to a development strategy based on the diversity of its markets, its areas of expertise and its broad geographic presence. Net inflows are well balanced between the retail (56% of the total) and Institutional (44% of the total) client segments. Amundi’s net inflows for open-ended funds are ranked No. 2 in Europe.
