French asset manager Amundi has registered total outflows of €12.9bn in the third quarter of 2022 due to adverse market conditions.

This figure includes €3.5bn in medium/long-term (MLT) assets excluding joint ventures (JVs).

The firm’s total assets under management stood at €1.8bn, an increase of 4.7% over one year and a decline of 1.5% compared to the previous quarter.

For the quarter ended 30 September 2022, adjusted net income totalled €282m, down 15.3% compared to €333m in the year ago period.

Last year’s figure did not include income from Lyxor, an asset management firm acquired by Amundi last year.

Amundi’s quarterly net revenue dropped 4.2% to €758m from €791m last year, which excludes revenue from Lyxor.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In addition, Amundi posted €8bn in outflows in the first nine months of this year. This result has been fuelled by €35.6bn of outflows in treasury products.

In active management segment, the group handled €1.011bn of asset under management (AuM) in the first nine months ended 30 September 2022, compared with €1,091bn last year.

In equities and multi-asset arms, Amundi’s AuM reached €167bn and €280bn, respectively, versus €177bn and €294bn a year ago.

AuM in the asset manger’s bonds and structured products units were €563bn and €28bn, respectively, down 9.2% and 19.7% from last year’s €620bn and €35bn.

Amundi CEO Valérie Baudson said: “Over the first nine months of the year, Amundi showed solid performance in a persistently tough market environment, maintaining a high level of profitability and operational efficiency.

“In the third quarter, Amundi’s activity held up well, particularly in medium/long-term assets, in a market characterised by strong outflows.

“Lyxor’s operational integration was successfully completed, allowing to record the initial effects of revenue and cost synergies. These results confirm the robustness of Amundi’s profile.”