AXA IM posts 25% rise in AUM
GLOBAL – AXA Investment Managers’ assets under management rose 25% to €432bn in 2005, according to the annual results.
Net new monies rose to €34bn, up 16% compared with the 2004 figure.
According to AXA IM, 2005 marked the sixth consecutive year it reported increased profits.
AXA IM’s institutional business pulled in more than €20bn of new monies, the increase coming from fixed income, LDI, AXA Rosenberg, AXA Real Estate IM and AXA Private Equity.
Further, assets managed for institutional investors rose to 43%, up from 37% in 2004 and 33% in 2003. Total assets were well-diversified with fixed income making up 50% of assets under management, equities 31% and the remaining 19% in alternatives.
According to an AXA spokesperson, total institutional assets under management amount to €331bn. Of that, €243bn, or 57%, was from AXA insurance companies and €88bn from institutional investors.
AXA Rosenberg added a further €15bn of net new money, and now manages more than €72bn of AXA IM’s €432 total assets under management.
“These results highlight AXA IM’s significant progress in growing its third-party asset management business alongside funds managed for AXA Group, in accordance with long-term business objectives,” it said in a statement.
AXA IM’s structured finance division reported more than €27bn in assets under management as at end-December 2005.
AXA IM chief executive Nicolas Moreau said that its assets under management put it among the top 20 largest asset managers globally.
“This is a good first step in line with AXA Group’s long term ‘Ambition 2012’ roadmap, which will see companies within AXA striving to become the preferred business in their own industry,” he added.
AXA IM will complete the integration of AXA Framlington in the UK in 2006.