Amundi

Amundi and its environment

Yves Perrier

Chief Executive Officer of Amundi

“Our excellent 2017 performance confirms the relevance of Amundi’s business model. It will be further reinforced with the integration of Pioneer Investments.”

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The French & European leader with global geographic coverage

Amundi’s success is built on the expertise of close to 5,000 employees and market experts in 37 countries. Operating in Europe, Asia-Pacific, the Middle East and the Americas, Amundi has 6 main investment hubs in Boston, Dublin, London, Milan, Paris and Tokyo, and another 10 local investment centres.

  • No.1
    in Europe
  • 100 M
    clients
  • Top 10
    worldwide
  • 5, 000
    employees*
    * Including joint-ventures and non-consolidated entities.
  • 37
    countries

2017 Key figures

  • €1,426bn
    in assets
    under management
  • +€70.6bn
    in net inflows
  • €168bn
    in assets under
    SRI management

Financial results

  • 52.4%
    Cost-income
    ratio
  • €2,722m
    Net revenues
  • €1,295m
    Gross operating
    income
  • €918m
    Net income,
    Group share
    (adjusted)

Breakdown of combined assets by asset class

at 31 december 2017

Breakdown of combined assets by client type

at 31 december 2017

Amundi group’s activity and results in 2017

In 2017, Amundi further accelerated its growth dynamic, with net inflows reaching €71bn, and a net combined adjusted income of €918m, up 14.1% from 2016. All the objectives set when the Group was first floated have been exceeded. Combined assets under management amount to €1,426bn at 31 December 2017, with the addition of Pioneer Investments’ own AUM (€243bn), consolidated as of July 2017. High levels of net inflows and a positive market effect (+€27bn) particularly on equities, also explain this performance.

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Amundi’s stock market performance

2017 proved another outstanding year for Amundi shares: +42.1%, to end up the year at €70.65, outperforming both market indexes and their main peers on the stock market (European asset managers). The Group’s market capitalization reached €14 billion, becoming Europe’s number one and entering the world’s top five for publicly traded asset managers.

Read the interview of Nicolas Calcoen

Change in Amundi's share price

From 31 december 2016 to 31 december 2017
Comparison with SBF 120 (Recalculated based on the Amundi share price)

Change in Amundi's share price

Amundi-Pioneer Investments:
the major phases of the integration

As soon as the merger was announced, the Amundi and Pioneer Investments teams started to work on defining the new Group’s strategic positioning and preparing the various phases of the integration process. This made it possible to implement the actual merger and its expected synergies on closing day, in July 2017.

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  • 12 December
    2016
    The merger
    is announced
  • 2 February
    2017
    Plan and design
    work is launched
  • 5 April
    2017
    Capital increase
    successfully completed
  • 22 June
    2017
    Target organisation
    unveiled
  • 3 July
    2017
    Acquisition finalised
    and integration process launched
  • 6 November
    2017
    First IT migration
    successfully carried out

Yves Perrier

Chief Executive Officer of Amundi

“Our ambition for the next three years is to accelerate our development and become a global leader.”

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Strategic ambitions 2018-2020

Amundi’s history is first and foremost one of growth. Since its creation, in 2010, the Group has more than doubled its amount of assets under management. The model and strategy, that place clients at the heart of the organisation, have been reinforced with the integration of Pioneer Investments and remain the pillars upon which Amundi aims to build its ongoing development: by 2020, the ambition is to become one of the leaders in the global asset management industry.

Based on three growth engines:
  • the quality of the expertise and services it offers to its clients,
  • its strong growth and profitability trends,
  • its position as a committed financial player.

Translated into
the following priorities:

  • Consolidate its position as a reference partner in the Retail segment

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  • Accelerate its development in the Institutional segment

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  • Capitalise on a full range of expertise and services

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  • Pursue its social commitment policy

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Financial objectives for 2020:

Yves Perrier

Chief Executive Officer of Amundi

“In the 2018 – 2020 time period, we aim at accelerating our growth and profitability, with in particular a two-fold increase in net income in relation to the level seen at the time of Amundi’s listing.”

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Activity

Total net inflows

€150bn
over 3 years

€60bn for Retail
€60bn for Institutional
€30bnthrough Joint-Ventures

Operational efficiency

Cost-income ratio(1)

53%

Dividend

Pay-out ratio

65%

of net income(2)

Profitability

€1bn
in 2020

Accounting net income x2 from 2015

€1.05 Md€
in 2020

Adjusted net income
+7% annual growth between 2017 (3) and 2020

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These objectives are based on the following hypotheses: no market effect and a stable average margin. (1) Amortisation of distribution contracts not included / (2) Integration costs not included. / (3) Combined and adjusted 2017 net result, including a normalised level of financial products.