Inflows of €35bn in Q3 2020, and net income[1] of €235m, i.e. +2.3% vs Q3 2019
Ambitious targets for Asia, thanks in particular to the new subsidiary in China with BoC[2]
Business activity |
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Results |
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Asia |
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Paris, 30 October 2020
Amundi's Board of Directors, chaired by Xavier Musca, convened on 29 October 2020 to review the financial statements for the third quarter and first nine months of 2020.
Commenting on the figures, Yves Perrier, CEO, said:
'In the third quarter of 2020, Amundi posted solid operating performance both in terms of business activity and results. The high level of inflows (+€35bn) was driven by all client segments, and net income1 (€235m) increased +2.3% compared to Q3 2019.
Thanks to its diversified business model and its operating efficiency, Amundi is therefore confirming its ability to combine growth and profitability, in spite of a market environment, which remains fragile due to the Covid-19 crisis.
Asia is a major focus of Amundi's expansion strategy. In the space of five years, Amundi's Asian AuM tripled, reaching more than €300bn. The launch of the new subsidiary in China with BoC give Amundi a unique position in this fast-developing market. Thanks to this new growth driver and the favourable momentum of its other activities in Asia, Amundi is targeting AuM of €500bn in the region by 2025.'
Footnotes
- ^[1] Adjusted data: excluding amortisation of distribution contracts; See page 8 for definitions and methods.
- ^[2] Bank of China
- ^[3] Assets under management and net inflows including Sabadell AM as of Q3 2020 and including assets under advisory and assets marketed and take into account 100% of the Asian JVs' assets under management and net inflows. For Wafa in Morocco, assets are reported on a proportional consolidation basis.
- ^[4] Excl. JVs
- ^[5] Medium-Long-Term Assets: excluding treasury products
- ^[6] At 30/09/2020
- ^[7] Net contribution at 100%
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Amundi SA published this content on 30 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2020 06:09:01 UTC