Amundi emerges as top seller once more

Profits upParis-based asset manager Amundi goes from strength to strength. Not only was its emerging markets ETF the main driver of inflows for global emerging market ETFs in Europe last month, but newer data shows Amundi was the best-selling fund house overall.

Amundi, which recently bought Pioneer Investments and listed on the Paris stock market in 2015, had net sales of €7 billion in August, outstripping JP Morgan Asset Management and BlackRock.

JP Morgan came in second with €5.7 billion of net sales, according to Thomson Reuters Lipper.

It was the second month in a row that the Paris-based firm beat sales from its main US rivals to come top of Lipper’s net sales rankings, though its August sales fell steeply from the €13.5 billion Amundi enjoyed in July.

Amundi’s August sales were driven mainly by money market funds rather than “long-term” equity or bonds funds. However, Amundi was also the third best seller of bond funds behind Pimco and BlackRock, and one bond fund ranked as the sixth best-selling fund overall.

That fund was a short-term bond euro bond fund, which raised €613 million.

BlackRock had the top selling fund, a global equity fund that raised €1,711.79 million, and Pimco had three funds in the top ten.

In July, Amundi beat analyst expectations to post €478 million of revenues in the three months to June.

Earlier in the year, Amundi reported solid traction in Asia and Italy.

©2017 funds europe