Amundi posts surprise outflows even as profit beats estimates

Europe’s largest asset manager posted surprise outflows in the first quarter, even as the firm’s expense controls helped it post higher-than-expected profit.
Valérie Baudson, CEo at Amundi. | Photo: Pr/ Amundi
Valérie Baudson, CEo at Amundi. | Photo: Pr/ Amundi
By Alexandre Rajbhandari / Bloomberg

Amundi said clients pulled EUR 11.1bn (USD 12.2bn) in the three months through March, according to a statement Friday, while analysts surveyed by Bloomberg News estimated about EUR 14bn of inflows. 

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