Amundi : A resilient business model, despite a slight drop in fees in Q4
>3.2% increase in assets under management in Q4 - Amundi reported yesterday its 2023 net earnings. The amount of AuM came to € 2,037bn at end-2023 (in line with our forecast and 1% above the consensus), up 3.2% in Q4 and 7.0% over 12 months. Net inflow stood at € 19.5bn (1.0% of AuM) in Q4, above forecasts (consensus € 13.2bn, our forecast € 16.6bn), but with lower net inflow than expected in retail, while better than expected in insurance (very low margin) and in the...Amundi is a holding company. Through its subsidiaries, Co. provides advisory and investment management services. Co. provides savings, financial instruments, equity trading, credit activities, and investment solutions for both private individuals and institutional and corporate clients worldwide.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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