Europe’s largest asset manager Amundi has released its results for the six months ending 30 June and the firm has improved across all key metrics.

Its assets under management increased during the reporting period by 12.7 percent on a year-on-year basis rising to €1,794 billion. Amundi pointed to ‘favourable market conditions’ such as an average equity market return improvement of 36 percent on a year-on-year basis which it said led to increased customer risk appetite.

On a quarterly basis, net asset management revenues were up 9 percent in Q2 compared to the previous quarter. According to the firm, this was driven in particular by exceptionally high performance fees which came in at €155 million.

The new subsidiary, Amundi BOC Wealth Management, showed solid business activity seeing around €2.5 billion in inflows which the firm attributes to around 30 fund launches in Q2.

The high profile acquisition of Lyxor is apparently ahead of schedule with the master agreement being signed on 11 June. The deal is expected to close by the end of 2021.

Valérie Baudson, CEO, said in a statement: “Amundi posted very good financial and operating performance in the second quarter of 2021, driven by a growth momentum in all business lines, especially with buoyant inflows in MLT [medium to long term] assets. The strong growth in net income was amplified by a very favourable market environment.

The recent strategic initiatives (the partnership with Banco Sabadell, the joint venture with Bank of China, and Amundi Technology) are starting to bear fruits. The acquisition of Lyxor, whose integration is being actively prepared, will be a new growth driver. Such strong performances prove that Amundi's development strategy is relevant. Our Group has all the strengths needed to pursue its profitable growth trajectory”.