Outflows from volatile cash funds mask a flat performance in longer-term assets, but a reduced tax bill keeps profits healthy

Amundi, Europe’s largest fund manager, continued to shed assets during the second quarter, bringing total net outflows for 2019 to €11.7bn.

According to results released by the Paris-headquartered company on July 31, a large portion of the money leaving flowed out of treasury products, from which corporate and institutional clients pulled a net €4.4bn between April and June.

Amundi outflows edge towards €12bn, but profits healthy

David Ricketts

Crédit Agricole

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