Amundi profits surge as inflows double market expectations

The Credit Agricole-backed firm reached a record €2.58 trillion in assets under management by the end of June, a 14% increase year-on-year. Growth was fueled by persistent investor appetite for fixed-income products and index-tracking funds, alongside the integration of British private credit firm ICG.

CEO Valerie Baudson pointed to the successful IPO of the Indian joint venture SBI Funds Management as a major catalyst for the quarter. The listing is expected to contribute a capital gain of approximately €300 million to the firm's third-quarter results. Despite these gains, Baudson issued a note of caution regarding the broader economic climate, describing current market valuations as objectively high. She remains confident, however, that the company is well-positioned to withstand potential volatility in the coming months.