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Amundi Reports Record Inflows and Profit Growth in Q1 2025

Europe’s largest asset manager kicks off 2025 with record-breaking inflows, strong earnings, and strategic expansion across ETFs, Asia, and technology.

30 APR, 2025

By Jose Luis Palmer from RankiaPro Europe

Amundi began the year on a strong note, achieving €31 billion in net inflows in Q1 2025, its highest quarterly result since 2021. This performance propelled the firm’s assets under management (AUM) to a record €2.25 trillion, marking a +6.2% year-on-year increase.

Key highlights include:

€37 billion in medium- to long-term (MLT) inflows excluding joint ventures, an all-time record.
A major €21 billion ESG equity index mandate from The People’s Pension in the UK.
€10 billion in ETF inflows, driven by strong interest in US and European equity strategies.
€6 billion in active management inflows, led by fixed income solutions.
Strong contributions from key strategic areas:
- Third-party distribution: +€8 billion
- Asia: +€8 billion
- ETF segment: +€10 billion

This momentum reflects the ongoing success of Amundi’s strategic growth pillars, with assets in Asia rising to €462 billion despite currency headwinds, and robust performance across institutional and retail client segments.

On the earnings front, Amundi posted an adjusted profit before tax of €458 million, up +11% year-on-year, driven by strong revenue growth and cost control:

Adjusted net revenue: €912 million (+10.7% Q1/Q1)
Cost-income ratio improved to 52.4%, below the Ambitions 2025 target of 53%
Adjusted net income (excl. tax surcharge): ~€350 million (+10% Q1/Q1)

Key revenue drivers:

Net management fees: €824 million (+7.7%)
Performance fees: €23 million (+30.7%)
Amundi Technology revenues: €26 million (+46.2%), boosted by the aixigo integration and new partnership with Murex

Despite a €46 million exceptional tax contribution in France, Amundi maintained earnings momentum. Adjusted EPS stood at €1.70, up +9.6% year-on-year when excluding the tax impact.

With the successful integration of Alpha Associates and the closing of its Victory Capital partnership on 1 April, Amundi continues to diversify and expand. The firm also announced a €30–€40 million cost optimisation programme starting in 2026 to fund future investments and enhance operational efficiency.

Upcoming Milestones: