AXA IM reports record inflows as firm hints at 'selective acquisitions'

'Further selective acquisitions'

Daniel Flynn
clock • 2 min read

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...

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