Credit Agricole Asset Management sees 11.6% rise in funds under management

FRANCE - Credit Agricole Asset Management Group delivered healthy growth for 2006, increasing assets under management from €479.3bn at end 2005 to €534.8bn at end 2006.

International subsidiaries accounted for approximately 40% of net new money and CAAM now claims to be the largest foreign asset manager in Spain.

Italian operations seem to have lowered aggregate growth for Credit Agricole's asset management business: assets were up 15.7% excluding Italy compared with 12.2% including Italy.

CAAM has a joint venture pending with Agricultural Bank of China.

CAAM still manages the majority of clients' savings in bonds and cash. Equities account for just 15%, or €80.6bn, of total assets.

Bonds account for 43% and money markets for 13%.

Structured products account for 5%, or €27.9bn, while the rest is spread between diversified and specialised products.

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