Janus, LGIM, AXA report asset inflows
GLOBAL – Asset management firms Janus, Legal & General Investment Management and AXA Investment Managers have reported billions of euros in asset inflows.
Denver-based Janus had fourth-quarter net inflows of $4.3bn (€3.5bn) – taking its long-term net inflows in 2005 to $2bn, the first year of positive inflows since 2000. Total assets under management stood at $148.5bn at the end of the year.
Growth came from its INTECH mathematical arm, which had inflows in $5.2bn in the quarter and $16.1bn in the full year.
LGIM saw its funds under management rise 26% in 2005 to £204bn (€297.7bn) at year-end. Fourth-quarter new business was up 57% at £6.9bn.
It said: “UK corporate pension clients continued to award us active fixed interest business and almost £1bn of new business was sourced from overseas this year.”
A further £2bn flowed in from non-pension institutions such as charities.
AXA’s asset management businesses, AXA IM and Alliance Capital, both contributed to a net inflow of €56bn. Revenues rose 14% to €3.4bn.
Iceland’s Kaupthing Bank’s asset management and private banking arm made a net profit in 2005 of ISK44m on operating income of ISK5.9bn.
Assets under custody rose 56.8% to ISK1.4bn while assets under management were up 111.5% to ISK1.1bn – boosted by ISK390bn attributable to the acquisition of Singer & Friedlander.