Pioneer boosts Amundi’s results

Amundi 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.

©2017 funds europe

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