Amundi shares fall as Q2 AUM drops 4.8%

Amundi shares fall as Q2 AUM drops 4.8%

Summary : Shares in Amundi (AMUN.PA) fell 1.6% on Friday as the giant French asset manager reported a 4.8% drop in assets under management in the second quarter due to “unfavourable” markets.

Asset managers have been suffering from the impact on markets of the war in Ukraine and from soaring inflation and interest rates.

Amundi posted a 16.4% year-on-year drop in net income in the first half to 527 million euros ($538.44 million), while assets under management came in at 1.925 trillion euros at end-June.

“In an unfavourable environment, Amundi maintained a good level of profitability and operational efficiency, demonstrating the robustness of its diversified model,” CEO Valerie Baudson said in a statement.