Amundi suffered net outflows of €3.7bn in the three months to the end of June, reversing a record-breaking asset haul by Europe’s largest investment house in the previous quarter.

The French asset manager, which completed its acquisition of Pioneer Investments from Italy's UniCredit earlier this month, enjoyed net inflows of more than €32bn in the first three months of the year but that fell apart in Q2 after large investors pulled more than €11bn from Amundi’s funds.