Amundi on Wednesday reported a 7% annual increase in assets under management at December 31, as prolonged market uncertainty continued to fuel demand for low-risk investment products.

The Group's total assets under management in the fourth quarter rose by 133 billion euros to 2,037 billion euros. For the most part, inflows of 13.2 billion euros - excluding the contribution of joint ventures in Asia - were driven by treasury products and "passive" management.Europe's leading asset manager, controlled by Crédit Agricole, also announced the acquisition of Zurich-based private asset multi-management group Alpha Associates, which manages around 8.5 billion euros in assets.

During a conference call with journalists, the group's CEO, Valérie Baudson, indicated that Amundi would pay a maximum of 350 million euros, with an initial payment of 160 million euros and a second payment of up to 190 million euros depending on Alpha Associates' growth.

Valérie Baudson confirmed the Group's objectives for 2025, including average annual growth in net income of around 5%. The fund manager also indicated that it would propose a dividend of 4.10 euros per share, in line with the 2022 dividend.

Amundi posted fourth-quarter adjusted net income of 313 million euros, in line with market expectations and up 3.4% year-on-year.

The Group's adjusted net revenues for the same period rose by 2% to 806 million euros.

(Reported by Mathieu Rosemain, Augustin Turpin, edited by Jean Terzian)