PARIS (Reuters) - French asset manager Amundi posted on Thursday a 7.6% decrease in assets under management in the first quarter amid turmoil in global markets, but said it was confident in the “robustness” of its results in 2020.
Amundi’s assets fell to 1.53 trillion euros ($1.7 trillion) from 1.65 trillion euros at the end of the fourth quarter. Assets were up 3.5% year-on-year.
Amundi said it was difficult to assess the duration of the coronavirus crisis and its impact on the business but that it was well-equipped to face the challenges.
“We are confident about the robustness of the results for the year,” Chief Executive Yves Perrier told journalists.
Its net income fell to 193 million euros in the first quarter from 235 million euros a year ago.
(This story has been refiled to remove extraneous dollar signs in second paragraph.)
Reporting by Maya Nikolaeva in Paris and Pawel Goraj in Gdansk; Editing by Peter Cooney