French asset manager Amundi’s flows bounced back in the fourth quarter, boosted notably by treasury products, a recovery that did not however compensate a drop in assets under management during a “difficult” year marked by weak markets.
Asset managers, whose portfolios expanded during the COVID pandemic, have seen their flows trickle out in 2022 as the war in Ukraine, soaring inflation and interest rates shook up markets.
Net inflows came in at 15 billion euros ($16.08 billion) in the last three months of the year, compared with 12.9 billion euros of outflows in the third quarter.
“The inflows in the last quarter were consistent with the evolution of the market,” Chief Executive Valérie Baudson said in a call with journalists.
“Our clients concentrated on less risky investments, which is more than legitimate in the environment of macroeconomic and geopolitical uncertainties that we experienced during this period.”
Europe’s largest fund manager reported assets under management at end-December of 1.90 trillion euros, down 7.7% from a year earlier.
This report’s information was first seen on ZAWYA; to read more, click this link.
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