Amundi: adjusted net income down 16.6%

(CercleFinance.com) - Amundi has published adjusted net income that is down 16.
6% at 206 million euros for the first quarter of 2020, compared with 247 million a year earlier, with gross operating income (excluding financial result) that is up 12, 2% at 343 million euros.

Net management revenue increased by 5.1% to 673 million euros, thanks to growing net management fees (+1.7%) and a doubling of outperformance fees, while operating expenses fell by 1.4%, thanks to synergies.

"Retail and JV inflows total more than E12bn, virtually offsetting the crisis-related outflows from Institutionals and Corporates," said CEO Yves Perrier.


Copyright (c) 2020 CercleFinance.com. All rights reserved.