Amundi's Net Profit Soars by 16%

Amundi, the asset management company, reported a third-quarter adjusted net profit that exceeded analysts' expectations and stated that the increase in assets contributed to a 9.2% rise in management fees.

Amundi's net profit rose by 16% to €337 million, while its adjusted net income reached €862 million, marking an almost 11% increase. Both figures surpassed analysts' forecasts of €329 million for adjusted net profit and €855 million for adjusted net income.

Assets under management increased by 11% year-on-year to €2.19 trillion. While this was in line with expectations, net inflows for the third quarter totaled €2.9 billion, falling short of the average expectation of €4.14 billion.

Valerie Baudson, CEO of Amundi, stated in a conference call with journalists that the company is looking at acquisition opportunities provided they enhance their footprint in terms of expertise or geography. She also noted that these opportunities should yield a 10% return on investment within three years.