French insurer group AXA has published figures of its asset management subsidiaries AXA IM and AllianceBernstein (AB) for the first half of 2015.
AXA totalled €1,152bn of assets under management, up 9% yoy, of which €694bn are managed by AXA IM and €459bn by AB.
The group explained that the growth is primarily due to forex impact following appreciation of USD, CHF and GBP relative to EUR, net inflows and market appreciation.
AXA IM’s AUM rose by 11% yoy whilst AB’s AUM have increased by 6%
Net new inflows for AXA IM in the first six months of the year have amounted to €28bn and were mainly invested in fixed income, multi asset strategies and real estate.
AB has recorded €7bn of net inflows coming primarily from institutional investors.
AXA said that revenues on the asset management segment were up 6% yoy (€1,956m), supported by both AXA IM (€632m) and AB (€1,324m).
The group added that revenues were mainly driven by higher management fees as a result of higher assets under management.