French asset manager Amundi has reported net income – group share of €137m for the third quarter of 2016, a 14.2% increase compared to €120m for the same quarter last year.
The company’s quarterly pre-tax income stood at €197m, a rise of 8.3% compared to €182m in the prior year.
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Gross operating income increased 7.6% to €189m from €176m a year ago. Net revenue rose 5.1% year-on-year to €396m.
The group’s cost income ratio at the end of the third quarter was 52.2%, compared to 53.3% a year earlier.
As on 30 September 2016, Amundi's assets under management were €1.05 trillion.
Amundi CEO Yves Perrier said: “Amundi's performance at the end of September 2016 is in line with the objectives announced at the time of the IPO, both in terms of inflows and income.
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By GlobalData“The first nine months of 2016 illustrate that Amundi is capable of delivering consistent performance, quarter after quarter, despite a market environment still marked by strong risk aversion on the part of our clients.”
