Amundi hit by EUR 16.3bn cash outflow from China joint venture
Europe's biggest asset manager's net inflows were unexpectedly dragged down by EUR 16.3bn (USD 19bn) of cash being pulled from a Chinese joint venture in the third quarter.
by will louch and tara patel, bloomberg
Europe's largest asset manager raked in just EUR 200m in the three months prior to Sept. 30, compared with the EUR 10.5bn consensus predicted by analysts surveyed by Bloomberg. Still, quarterly profit beat estimates and assets under management met forecasts, according to a statement T'shursday.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
