Candriam reports record inflows for H1 2015

Candriam has reported record €8bn net new cash for the first six months of 2015, already exceeding total inflows recorded in 2014 by the firm.

Assets under management have amounted to €90.7bn as at end June 2015, up 13% yoy, and have been boosted by a €10.7bn growth from December 2014 to June 2015.

Since it has been acquired and rebranded by NYLIM in February 2014, Candriam (ex-Dexia) has increased its assets by 36% from €66.5bn to €90.7bn.

Multi-asset strategies (€4bn), thematic strategies (€1bn) and specialist fixed income products (€3bn) have drawn most inflows.

The majority has flowed into strategies such as total return, high yield and emerging market bonds, the firm said.

Candriam explained that its multi-asset strategy served retail customers who were looking for outcome oriented asset allocation with the added benefit of downside risk control.

On the institutional segment, inflows mainly came from insurers and pension funds.

Candriam reported €700m inflows into its absolute performance strategies “with a strong start for its long short equity fund launched December 2014” while equity strategies have boarded €600m inflows in the first half of 2015. The company stressed an interest in high conviction and sustainable equity strategies.

“Candriam has seen strong results and an advanced progression of its distribution push, especially in its historical markets (Belgium and France) and in Italy and Spain,” the firm highlighted.

Commenting on the first half results, Candriam’s CEO, Naïm Abou-Jaoudé said: “At the start of this year we set ourselves some ambitious strategic objectives. Our priorities were to make significant headway with pan-European distribution efforts, increase our footprint in growing markets, and maintain our leadership position with institutional clients and third party distributors. We are very proud that we have more than met these objectives.”

“We have also made particularly strong advances in terms of global distribution via opportunities with New York Life Investment Management (NYLIM). This puts us in a compelling position as we are able to offer clients the benefits of a local asset manager with a truly global offer and reach.”

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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