Amundi AUM reached all-time high before Victory Capital deal
Amundi’s assets under management rose to an all-time high of €2.156tn (£1.82tn) just before announcing its merger with investment manager Victory Capital.
During the company’s first half and second quarter 2024 results, it was revealed that Amundi saw net income growth of 9.4 per cent and net inflows of €15bn during the second quarter of the year, up to 30 June.
These inflows were driven by strong performance by the company’s third-party partners as well as its Asia operations.
Read more: Amundi and Victory Capital announce plan to combine forces
“Amundi achieved very good performance in the second quarter of 2024, both in terms of activity, with net inflows of over €15bn, and financial results, with a net income up nine per cent compared to the same period in 2023,” said Valérie Baudson, chief executive of Amundi.
“Since the beginning of the year, the momentum of inflows has been particularly significant with our third-party distributor clients as well as in Asia.
“The breadth of our offering has been a major asset to meet the different needs of our clients, whether through our active management solutions, in particular fixed income, our structured products, or our passive management funds.”
Read more: Amundi raises $436m from private markets for new sustainability fund
On 2 April, Amundi closed the acquisition of Alpha Associates to create Amundi-Alpha Associates. This new business will cover the group’s entire multi-asset range, and will soon be rolled out to institutional distribution teams. Amundi also hinted that new strategies will be launched through the Alpha brand.
Meanwhile, on 8 July Amundi officially established a strategic partnership with US asset manager Victory Capital.
Amundi has now confirmed that the closing of the transaction is expected in early 2025, and aims at creating a larger US investment platform to serve the clients of both companies.
The transaction is expected to bring a low single-digit accretion for Amundi shareholders, as well as boosting its adjusted net income and earnings per share.
Read more: Amundi to acquire private markets asset manager Alpha
