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Amundi Third-quarter 2021 results

London, UK,

Solid results: €333m[1] (+41.5% vs. Q3 2020)

Strong business momentum: net inflows of +€15bn in MLT assets[2],[3] in Q3 2021

 

Results

 

  • Good level of net asset management revenues, driven by
  • net asset management fees of €707m, by +17.6% on Q3 2020 and +2.6% on Q2 2021
  • high performance fees (€90m)
  • Cost/income ratio of 48.4%1 (~50% excluding exceptional level of performance fees[4])
  • Adjusted net income1 up sharply, at €333m:
  • +41.5% vs. Q3 2020  
  • Excluding the exceptional level of performance fees2, +9.9% vs. Q2 2021 and +29.2% vs. Q3 2020

 

Business activity

 

  • Strong business momentum: high inflows3,[5] of +€15bn in MLT assets, driven by active management (+€11.1bn) and all customer segments
  • Moderate outflows in treasury products3: -€2.2bn 
  • Outflows of -€12.7bn in the JVs due to a one-off redemption   
  • AuM5 of €1,811bn at 30/09/2021, up +8.9% year-on-year (+1.0% for the quarter)

 

 

Amundi’s Board of Directors, chaired by Yves Perrier, convened on 3 November 2021 to review the financial statements for the third quarter and first nine months of 2021.

Commenting on the figures, Valérie Baudson, CEO, said:

“Earnings in the third quarter of 2021 were up sharply compared with the third quarter of 2020, driven by fast-growing revenues and controlled costs. Net inflows in Medium/Long-Term assets remained high at €15bn, driven by all areas of expertise and both Retail and Institutional customer segments.

With more than €800bn in ESG assets, Amundi is confirming its global leadership and pursuing the implementation of its ESG action plan.

The acquisition of Lyxor, scheduled for end December 2021, will accelerate Amundi’s growth, particularly in ETFs and in alternative investment expertise.”

Footnotes

 

  1. Adjusted data: excluding amortisation of the distribution contracts and Affrancamento. See page 8 for definitions and methodology
  2. Medium/Long-Term Assets: excluding treasury products
  3. Excl. JVs
  4. Exceptional level of performance fees = higher than average performance fees per quarter in 2017-2020
  5. Assets under management and net inflows including Sabadell AM as of Q3 2020 and BOC WM as of Q1 2021 include 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.
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About Amundi

About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players[1], offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets.

With its six international investment hubs[2], financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

Amundi clients benefit from the expertise and advice of 4,800 employees in more than 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.8 trillion of assets[3].

Amundi, a trusted partner, working every day in the interest of its clients and society

www.amundi.com    

 

Footnotes

 

  1. Source: IPE “Top 500 Asset Managers” published in June 2021, based on assets under management as at 31/12/2020
  2. Boston, Dublin, London, Milan, Paris and Tokyo
  3. Amundi data as of 30/09/2021

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