Amundi (AMUN) Corporate presentation summary

Strategic ambitions and targets for 2028

• Aims for adjusted EPS above €7, cost/income ratio below 56%, and payout ratio of at least 65% by 2028, with €300bn net inflows targeted from 2025–2028 on growth priorities.

• Focuses on external growth, flexibility in capital management, and returning excess capital to shareholders, including share buybacks.

• Plans to double technology revenues by 2028, invest €800m organically, and roll out 50 AI applications at scale.

• Strategic priorities include client diversification, global expansion, leadership in private assets and ETFs, digitalisation, and operational efficiency.

• Major partnership with ICG to enhance private asset offerings, targeting ≥10% ROI within 3 years and c.5% EPS accretion in 2028.

Growth platforms and market positioning

• Offers a comprehensive range of investment solutions, including active, ETF, alternative, and responsible investments, with over 82% of AuM outperforming benchmarks over five years.

• Maintains a global presence in 35 countries, serving over 1,000 institutions and 600 distributors, and accessing more than 200 million retail clients.

• Demonstrates industry-leading cost efficiency, strong human capital, and a disciplined M&A track record with three successful external growth operations.

• Well-positioned to benefit from trends such as retirement individualisation, ETF adoption, digitalisation, and the shift of AuM growth toward Asia.

Retirement and ETF strategies

• Targets €100bn net inflows in retirement by 2028, leveraging leadership in France and Italy and expanding into competitive DC markets in Europe and Asia.

• Provides a full suite of retirement solutions, including active, index, private assets, lifecycle investing, and sustainable investments.

• ETF business aims to launch 100 new ETFs by 2028, expand digital partnerships by 50%, and equip 50% more institutional investors with ETF solutions.

• Maintains #1 position in European ETFs, with €310bn AuM and rapid growth in client diversification and digital distribution.