Asset management revenues at Axa rose 7 per cent to €1bn in the first quarter of 2015, as total revenues at the group climbed 2 per cent to €31.5bn.
It attributed the increase in revenues in its asset management arm to growth at both Axa Investment Managers (IM) and AB, “due to higher management fees as a result of higher average assets under management”.
Net flows into asset management were €19bn during the period, with €14bn net inflows into Axa IM.
Axa noted that Axa IM benefited from net inflows across all channels, but in particular in real estate and fixed income.
Denis Duverne, deputy chief executive at Axa, said: “In asset management, we marked the 10th consecutive quarter of positive flows, highlighting the strength and consistent delivery of our asset managers.”
