BNP Paribas has reported €3bn outflows in the second quarter of 2015 for its asset management division, BNPP IP, after having recorded €4.3bn inflows during the first quarter.
BNPP IP’s AUM have slightly dropped by 3.6% quarter-on-quarter, reaching €387bn as at 30 June 2015.
Almost one third AUM (32%) are invested in bonds, 23% in diversified funds, 20% in equities, 19% in money market strategies and the remaining 6% in structured and index-based strategies
However, BNP Paribas’ total AUM have increased by 10.2% on a year-on-year basis, amounting to €949bn, and rose by €55bn since the beginning of the year.
The firm explained this rise is mainly due to a +€26.7bn performance effect, on the back of the favourable evolution in equity markets and interest rates, and a +€13.5bn foreign exchange effect due to the depreciation of the euro.
BNP Paribas’ AUM for its wealth management division account for €331bn, insurance for €210bn and real estate services for €21bn.
“Net asset inflows were also largely positive at +€13.9bn with very good asset inflows at wealth management in the domestic markets and in Asia, sustained asset inflows in insurance in France, Italy and Asia and asset inflows in asset management driven in particular by diversified funds,” BNP commented in a statement.
At mid-year, wealth and asset management’s revenues, at €1.49bn, were up by 5.4% yoy.