Amundi reports fall in 1Q AuM in 'unprecedented start' to year
Paris-based asset manager and fund house Amundi today published its 1Q2020 results, showing a 7.6% decrease in AuM to €1.53trn. The company's CEO said he was 'confident of the robustness' of its performance.
In its 1Q trading satement, published this morning, Amundi described an "unprecedented start to 2020." The statement said the covid-19 crisis is "unparalleled in scale, affecting all economic and financial activity around the world."
"It is difficult to predict the scope and duration of this crisis," the company said.
Amundi's AuM fell to €1.53tn from $1.65trn in the previous quarter. Assets were, however, up 3.5% YoY.
Its 1Q net income slid to €193m from €235m in the same period 2019.
Yves Perrier (pictured), the French asset manager's CEO, said: "We are confident about the robustness of the results for the year."
Subscribe to International Investment's free, twice-daily, newsletter
by Tanya at http://www.ifacareers.today
Daniel van Niekerk
Welcome to Prestige IFA Jobs, the premier international wealth management recruitment service. Since our establishment in 2016, we have earned a reputation as the go-to choice for discerning international wealth management and investment advisory firms around the world. At Prestige IFA Jobs, we redefine the art of headhunting in our industry. We stand unrivaled, leading the way with our unique approach and unmatched expertise. No one does what we do quite like us. Our commitment goes beyond simply matching a qualified candidate with a good IFA firm. We believe in finding the perfect synergy between candidate and company. With our extensive background in personal financial advisory across multiple countries, we take the time to deeply understand our candidates and our clients. So, when things go wrong, don't go wrong with them...because the successful warrior is the average man, but with laser focus.
