French asset manager Amundi, owned by Credit Agricole, has reported net income group share of €234m for the second quarter of 2018, an increase of 14% compared to €204m in the same period last year.

The company’s adjusted net income group share for the quarter ended 30 June 2018 stood at €252m, up 12% from €224m in the corresponding quarter of 2017.

Adjusted gross operating income was €337m, a rise of 1% from €334m in the previous year.

Adjusted net revenues were €677m, versus €688m last year. Adjusted operating expenses dropped 4% year-on-year to €340m.

As at 30 June 2018, Amundi’s assets under management totalled €1.47 trillion. The business recorded net inflows of €2.6bn, with €12.9bn in net new money from retail investors. However, the institutional segment reported net outflows of €10.3bn.

Amundi CEO Yves Perrier said: “The integration of Pioneer has been successfully developed and is bearing fruit.

“These excellent results, in a less favourable environment, confirm the strength and the resilience of the Group’s business model, which relies on its diverse business lines (client segments, investment expertise and regions). Amundi has a significant growth potential, based on strengthened investment expertise and a powerful international network.”

Amundi purchased Italian fund provider Pioneer Investments from Unicredit last year. The deal was announced in 2016.