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AXA IM £10.2bn inflow powered by Framlington & bonds

by Dylan Lobo on Mar 11, 2014 at 14:51

AXA IM £10.2bn inflow powered by Framlington & bonds

AXA Investment Managers registered a €12.2 billion (£10.2 billion) net inflow in 2013.

The rise - which was €9 billion up on 2012 - fuelled a 11% increase in operating income and was powered by its fixed income and AXA Framlington divisions.

Fixed income accounted for €6 billion of the inflow and AXA Framlington €1.6 billion out of an overall equity inflow of €2.2 billion. Funds run out the latter include the popular Citywire Selection AXA UK Select Opportunities fund, managed by Citywire AA-rated Nigel Thomas (pictured).  

Elsewhere, the firm's quantitative equity arm, AXA Rosenburg, took in €0.6 billion. 

Overall assets under management were 3%, or €14.5 billion higher at €547 billion, with inflows and €8 billion in forex and market movements driving the rise.

This offset a €4 billion asset loss from the sale of its private client business to Psigma and the partial sale of its UK Life & Savings operations.

Other performance indicators showed a 7% increase in revenue to €1,030 million, which the group attributed to a combination of factors, including increased management fees and higher performance fees through its structured finance division. A growth in transaction fees generated by its real estate business also supported revenue growth.

In an accompanying statement, AXA IM chief executive Andrea Rossi said one of the goals for 2014 is to enhance its global footprint.   

'In 2013 we grew our market share in many areas, however, our ambition is to be a truly global asset manager,' Rossi said.  

'While continuing to leverage our leading position in Europe, we will strengthen our geographical footprint in 2014 with increased investment in regions where we are less visible today such as the Nordics, Asia including Japan, and the Americas. 

'We believe that our results provide the perfect springboard for us to not only continue, but accelerate our growth in 2014.'  

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