Amundi released this morning its numbers for Q1 21. Net income was sharply above expectations (+17%) but this was mostly driven by performance fees. Underlying numbers were also better than expected.
Net inflows were negative and below expectations but only driven by much lower cash products (institutional investors). At the same time, retail flows were comfortably above expectations and ours. We will revise upwards our expectations following this release (and consensus will probably do so as ....
29 Apr 2021
Solid underlying numbers
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Solid underlying numbers
- Published:
29 Apr 2021 -
Author:
Farhad Moshiri -
Pages:
3
Amundi released this morning its numbers for Q1 21. Net income was sharply above expectations (+17%) but this was mostly driven by performance fees. Underlying numbers were also better than expected.
Net inflows were negative and below expectations but only driven by much lower cash products (institutional investors). At the same time, retail flows were comfortably above expectations and ours. We will revise upwards our expectations following this release (and consensus will probably do so as ....