Amundi finished 2025 with a record performance for its ETF business, consolidating its position as the largest player in the European market.
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By ETFWorld.co.uk
Benoît Sorel, global head of the ETF and indexing business at Amundi
The French asset manager reported full-year net inflows of €46bn into its ETF range, bringing total assets under management in the franchise to €342bn by the end of December .
The results were published against a backdrop of sustained growth in the European UCITS ETF market. According to Amundi’s data, the industry gathered more than €330bn in net new assets over the course of 2025, pushing total European ETF assets past the €2,500bn mark .
Market drivers and client trends
The continued adoption of ETFs across multiple investor categories underpinned the year’s growth. Institutional investors used ETFs for portfolio reallocations and to implement responsible investment strategies, while retail access expanded through savings and pension products, as well as digital platforms. Product innovation also played a role, with new ETFs offering granular and thematic exposures .
Amundi stated that the development of white-label partnerships and model portfolio construction contributed to the broader use of ETFs as implementation tools.
Geographic and client diversification
Approximately half of Amundi’s ETF assets under management at the end of 2025 came from retail investors, indicating a shift in the client base. The firm also reported that around 30% of its ETF inflows originated from outside Europe, with particular demand in Asia and Latin America .
Core range and fixed income performance
The Amundi Core STOXX Europe 600 UCITS ETF ended the year as the largest European equity ETF on that benchmark, with €15bn in assets. It collected €4.4bn over the twelve months. The Amundi Core MSCI USA UCITS ETF recorded €2.8bn in inflows, reflecting continued demand for US equity exposure at competitive fee levels.
In fixed income, the Amundi Smart Overnight Return UCITS ETF reached €12.4bn in assets, establishing itself as one of the larger products in the European cash-alternative space. The Amundi EUR Corporate Bond 1-5Y ESG UCITS ETF collected €4.7bn during the year, pointing to sustained interest in short-dated investment-grade credit with an ESG overlay.
Synthetic ETF leadership
Amundi’s synthetic ETF range, which uses swap-based replication, saw its assets more than double over a three-year period to reach €307bn at the end of 2025. The firm was the largest collector in this segment during the year with €14bn of inflows and now accounts for 40% of total European synthetic ETF assets.
Product development and new offerings
Amundi expanded its global product shelf to 350 ETFs over the course of the year. New launches included thematic ETFs focused on defence and strategic autonomy, designed to provide exposure to European long-term growth initiatives. The firm also introduced a lifecycle ETF targeting retail investors with long-term savings objectives .
In the active space, Amundi launched a money market active ETF aimed at investors seeking very low risk profiles combined with the continuous trading features of an ETF structure . The screened ESG ETF range was also extended, allowing clients to align portfolios with sustainability objectives while maintaining low tracking error.
ETF-as-a-Service platform
Amundi announced the launch of an “ETF-as-a-Service” offering during the year. The service provides a modular platform enabling digital distributors, asset managers, and wealth managers to develop and launch ETFs under their own brands, using Amundi’s infrastructure.
Benoît Sorel, global head of the ETF and indexing business at Amundi, said: “In line with the strategic plan of Amundi, we are engaged to reinforce our position of European leader in ETFs, by launching new ETFs and by continuing the widening of our geographic footprint. Thanks to our solid scalable and efficient platform, we will continue to propose new solutions allowing savers to prepare their retirement, and to reach their long-term objectives and responsible investment goals.”
Gilles Dauphiné, head of active and white-label ETFs at Amundi, added: “Guided by our client-centric approach and our culture of innovation, we will pursue high-potential themes such as active ETFs and white-label ETFs. We will continue to strengthen our partnerships with our clients, and will propose solutions that will allow us to respond to new needs, while opening new revenue opportunities.”
Source: ETFWorld
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