Investors Pull $5.4 Billion From Europe’s Biggest Asset Manager
- Asset manager says investors have become more risk averse
- Company sticks to its targets as part of a three-year plan
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Amundi SA had its third consecutive quarter of withdrawals, the firm’s worst run since its 2015 initial public offering, as clients showed a reluctance to take risks after a bruising end to last year.
Investors pulled 4.8 billion euros ($5.4 billion) in the second quarter, Europe’s biggest asset manager said in a statement Wednesday. In contrast, Deutsche Bank AG’s DWS Group has bounced back from the mass outflows in the industry at the end of 2018 by posting inflows for the first six months of the year.