Candriam Investors Group, the pan-European multi-asset manager of New York Life Investment Management, has reported a 20% increase in AUM to €80bn through 2014, in its first set of annual results since being acquired by the US firm.
Net new cash increased by €7.1bn through the year as inflows increased across both retail and institutional busines.
The manager said inflows were concentrated to areas such as asset allocation and mixed products, as well as fixed income – although equity and alternatives funds also attracted net new money.
Product performance in turn has enabled 90% of the funds offered to achieve 3,4 or 5 star ratings from Morningstar, Candriam noted. Examples of funds being ranked top quartile over the year included European Equities High Conviction and Small & Mid Cap strategies, Biotech and Sustainable Emerging Markets. There were also a number of product launches over the year, such as in the areas of global infrastructure and ‘smart beta’.
Naïm Abou-Jaoudé, CEO of Candriam Investors Group, said: “2014 was a landmark year for Candriam Investors Group, with strong new net cash inflows and a steadily increasing AuM, coupled with consistent 4* and 5* Morningstar ratings for some of our flagship funds. We succeed through delivering on our core values, built over 20 years. Our aim remains to provide clients with long-term stability in the portfolio management teams and client relationship teams, fund performance and investment strategy, whilst constantly adapting to the changing market environment with innovative new product offerings.”
“Importantly, our successful business development is now rooted in the highly successful partnership with New York Life. The complementary capabilities and the cultural fit between our two organisations encourages synergies. Over the past year we have worked together diligently to develop the first product partnership, with Candriam Investors Group now a sub-adviser on Emerging Markets equities for MainStay Investments, the mutual fund distribution arm of New York Life in the US. We will continue to develop this relationship further in order to unlock the full transatlantic interactions that can exist between New York Life Investments and the other boutique affiliates, in order to increase our international reach further.”