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Asset manager Amundi reports Q2 net outflows

PARIS, July 28 (Reuters) - French asset manager Amundi posted a 1 percent fall in assets under management over the second quarter to 1.12 trillion euros ($1.31 trillion), weighed down by outflows from institutional clients.

Amundi, which says it has become the largest listed asset manager in Europe after the acquisition of Pioneer Investments, reported second-quarter net outflows of 3.7 billion euros due to "significant outflows in treasury products."

It is the first time that Amundi reported quarterly net outflows since at least late 2014 - the earliest quarterly data available on its website.

The asset manager said that the withdrawals were seasonal, given that in June companies usually pay dividends, and that the bulk of the money went back to Amundi in July. Net outflows from institutional clients stood at 11.2 billion euros in the second quarter this year versus 5.3 billion a year ago.

However, Amundi reported 28.8 billion euros in net inflows over the first half of the year and said that this trend exceeded the target of 40 billion euros on average per year announced at the time of its IPO in 2015.

Amundi's second quarter net income stood at 145 million euros, down 2.6 percent year-on-year, impacted by costs linked to the 3.54 billion euros acquisition of Pioneer Investments from Italian lender Unicredit.($1 = 0.8573 euros)

($1 = 0.8565 euros) (Reporting by Maya Nikolaeva; Editing by Ingrid Melander)