AXA IM has reported positive third-party net inflows of €3bn over 2018, however total net outflows still amounted to €6bn as the group lost a key mandate and saw negative flows in its Asian joint ventures.
In its full year results for the 12 months to 31 December 2018, the group said net third-party flows were €3bn, largely thanks to success in the alternatives, multi-asset and fixed income space. However this was "more than offset" by gross outflows of €9bn as net flows amounted to -€6bn. AXA IM said this was a result of "the loss of a large mandate and outflows from the Asian joint-ventures, mainly as a consequence of large and low-margin alternative products from China joint-ventures reaching maturity, due to local changes of the regulatory requirements in 2018". Meanwhile, underl...
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