Geopolitical risks, inflation, interest rate hikes and volatile financial markets caused stress for investors during 2022, but fund managers were starting to see signs of revival just before the recent banking turmoil in the U.S. and Europe. Amundi, the largest asset manager in Europe and majority-owned by French bank Credit Agricole, said net income fell 7.5% from Q1 2022. Amundi reported a 7.3 billion euro net inflow for the 12 months through the end of March 2023.