Primonial reports €524m inflows in 2017 for AM biz before sale
French financial group Primonial has reported €5.51bn of gross inflows for the full year 2017, of which €889m came from its asset management segment.
Primonial detailed that the share of its multi-boutique arm Primonial Investment Managers, whose acquisition by La Financière de l’Echiquier is to be completed during the first quarter of 2018, amounted to €524m of gross inflows throughout 2017, against €344m for the full year 2016.
Institutional clients accounted for €310m of these inflows whilst the remaining €214m were brought by retail clients, mainly through the insurance life segment.
The 2017 results of Primonial Investment Managers encompass inflows of Stamina AM, Roche-Brune AM and AltaRocca AM. Nevertheless, Roche-Brune AM left Primonial group and went independent in June 2017 after its founder Bruno Fine repurchased Primonial’s share.
Primonial will hold a 40% stake in La Financière de l’Echiquier according to the terms of the agreement reached for the sale of Primonial Investment Managers last December.
The group had €23.44bn of assets under management or advisory as of 31 December 2017.
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