Investments  

Asset management revenues climb at Axa

Asset management revenues climb at Axa

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.

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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.”