August 2, 2018 / 5:04 AM / 3 months ago

Asset manager Amundi posts higher Q2 profits

PARIS, Aug 2 (Reuters) - Amundi, Europe’s biggest asset manager, reported higher second quarter profits as it benefited from new client money going into its main funds.

Amundi, majority-owned by French bank Credit Agricole , said second quarter net profits had risen 14.3 percent from last year to 234 million euros ($272.70 million).

“Amundi continues to have the potential for high levels of growth, based on its strengthened levels of expertise and its strong international presence,” said Amundi chief executive Yves Perrier in a statement.

Amundi bought Pioneer Investments from Italian bank UniCredit for 3.5 billion euros in 2017

$1 = 0.8581 euros Reporting by Sudip Kar-Gupta and Matthieu Protard; Editing by Inti Landauro

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