French asset manager Amundi has reported net income – group share of €153m for the fourth quarter of 2016, a 16.5% rise compared to €131m in the year ago.

The company’s pre-tax income for the quarter ended 31 December 2016 stood flat at €215m.

Net revenue increased 2.7% to €443m from €431m the year ago. Gross operating income remained flat at €207m.

The group’s cost income ratio at the end of the fourth quarter of 2016 was 53.2%, up compared to 52.2% in the prior year.

Amundi's assets under management were €1.08 trillion as on 31 December 2016, an increase of 9.9% from €985bn at the end of December 2015.

Amundi CEO Yves Perrier said: “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 ability to innovate in order to serve our individual and institutional clients.”