AXA asset management revenues rise 25%
FRANCE – Revenues at AXA’s asset management businesses rose by 25.5% to 743 million euros in the first quarter.
Alliance Capital’s revenues rose 23.4% to 569 million euros. Assets under management at the unit rose 26% to 396 billion euros
AXA Investment Managers’ revenues were up 34% at 174 million euros while AUM at the unit were up 15% at 306 billion euros.
Meanwhile, BNP Paribas said its total assets under management rose to 287 billion euros, aided by 4.3 billion euros in new cash inflows. The asset management and services arm’s net banking income was up 18% to 688 million euros.
BNP Paribas said its Real Estate Services arm has bought Atis Real International “a leading player in corporate and institutional real estate management services and transactions in Europe”.
And the bank added that it launched France’s first unquoted tax incentivised real estate investment fund in the first quarter of 2004.
It said margins were still under pressure at the securities services business line, though assets under custody grew nine percent during the quarter and assets under management were up eight percent.