French asset manager Amundi has said that its assets under management (AuM) totalled €1.47 trillion at the end of March 2019.

This is a rise of 2% from €1.45 trillion a year earlier.

The increase in assets was said to be the result of a positive market.

The company reported net outflows of €6.9bn, versus €39.8bn in net inflows in the previous year.

Institutional AuM totalled €920bn while institutional net outflows were €1.5bn.

In the retail segment, AuM reached €556bn while outflows were €5.4bn.

Most of its outflows were in Asia, with €5.2bn being pulled off by investors in the region.

Equities, bonds, real, alternative and structured assets raked in funds from investors.

The firm’s adjusted cost/income ratio was 50.9% at the end of March 2019, compared to 50.7% last year.

The company reported an adjusted net income – group share of €247m for the first quarter of 2019, up 3% from €240m last year.

Adjusted net revenue dipped to €659m from €663m.

Compared to a year ago, adjusted gross operating income dropped 1% to €323m while adjusted operating expenses remained stable at €336m.

Amundi CEO Yves Perrier said: “With a sharp improvement of profitability, this first quarter is in line with the roadmap and the targets stated for 2020.

“The Pioneer integration is finalised. Against a backdrop of persistent risk aversion, the turnaround in inflows in medium-long-term assets illustrates Amundi’s capacity to meet the needs of all its clients, through the continuous enhancement of its solutions and international presence.”