Pioneer boosts Amundi’s results

Profit_meterAmundi said the integration with Pioneer Investments, which it acquired in July, had helped its results in the first nine months of the year.

Net revenue was up 6% versus the nine-month period to the end of September last year.

The revenue for the combined firm was €1.97 billion.

Amundi saw combined inflows of €57.5 billion during the nine months, with €31.2 billion of them in the third quarter.

The flow’s drivers were mainly retail and treasury products.

France, Amundi’s home market, recently saw a sharp drop in flows to treasury, or money market, funds.

Amundi’s assets under management were €1.4 trillion at September 30, which includes Pioneer’s assets.

Yves Perrier, CEO, said: "Amundi's results at the end of September are up significantly, thanks to the integration of Pioneer and to business momentum, which is staying high in all business lines.

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