AXA Investment Managers (AXA IM) has reported record net new inflows of €42bn in 2015, up 120% year-on-year from €19bn.
Its assets under management at end December 2015 have reached €669bn, rising 7% yoy, from €623bn.
The growth was primarily driven by third party client inflows. AXA IM also saw a €37bn combined market and foreign exchange rate impact, partly offset by the negative impact of €33bn due to the partial withdrawal of Friends Life assets.
AXA’s revenues also increased, amounting to €1.23bn, up 9% in comparison with 2014.
Commenting the results, Andrea Rossi, CEO of AXA IM, said: “Our consistent growth over the past 4 years is a result of our focus on growing third party assets while continuing to meet the needs of the AXA Group around the globe.
“With inflows of €42 bn, 2015 saw a further acceleration in our third party assets with Asia Pacific continuing to make a significant contribution to net new money, as well as strong inflows into our fixed income, multi-asset and alternative (real asset and structured finance) strategies.
“We had notable successes in the retail and insurance markets which will remain key segments for AXA IM in 2016 and beyond. These strong financial results not only reflect our solid investment performance, but also our focus on innovative products and services and an emphasis on partnering with clients to meet their evolving needs.”