AXA Investment Managers has reported net inflows of €13bn (£10.9bn) during 2019, including third-party net flows (excluding joint ventures) of €4bn, with most of this going into its fixed income and alternatives strategies.
As a result of these inflows and strong market performance, the assets under management (AUM) at the business rose €71bn during the year to hit €801bn (£670bn). Revenues remained stable at nearly €1.3bn, driven by higher management fees but offset by lower performance fees compared to 2018, while underlying earnings saw a 3% decline to €264m due to a higher average tax rate. The alternatives segment of the business saw particularly strong demand, with AUM rising 13% to €137bn, driven by "appetite from institutional clients". The year saw the AXA IM - Real Assets flagship pan-Europe...
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