PARIS: Amundi SA, France’s largest fund manager, said it had 14.1 billion euros (US$16 billion) of net inflows in the fourth quarter as it reported its first figures as a public company, while profit slipped on costs from its initial share sale.
Fourth-quarter net income was 124 million euros, down less than 1 percent from a year earlier, the Paris-based company said in a statement yesterday. Revenue for the quarter rose 13 percent to 431 million euros.
“At this stage we maintain our objectives,” even if the market environment is currently “clearly more unfavorable,” chief executive officer Yves Perrier told journalists on a conference call.
The company expects net income to rise by an average of 5 percent over the next three years, with about 40 billion euros of net inflows per year, he said.
Amundi made its trading debut in November last year as Societe Generale SA sold its stake to raise cash. Credit Agricole SA remains Amundi’s majority investor.
The firm said it reached this year’s assets-under-management target a year ahead of schedule, with 80 billion euros of inflows last year pushing total assets to 985 billion euros at the end of December.
The company will pay a dividend of 2.05 euros per share for last year, up 40 percent from the previous year, it said.
