AXA Investment Managers saw record net inflows of €56.4bn in a "challenging and uncertain" 2016, and said it will continue to target third-party assets in the retail space in the years ahead.
The company said net inflows increased 35% on 2015 to €56.4bn, with joint ventures in Asia contributing €38.5bn to this figure. This led assets under management to jump 7% to €717bn from €669bn in 2015. Despite this, revenues were down 2% to €1.2bn, due to lower management fees as a result of the withdrawal of assets previously managed on behalf of Friends Life, while transaction fees increased by €12m. Excluding Friends Life, revenues were €1.2bn, up 2% on 2015. Similarly, underlying earnings were down 4% on 2015 at €225m, but rose 8% when excluding Friends Life. AXA IM to laun...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
