Candriam Investors Group, the multi-asset manager of New York Life Investment Management, has reported a 20% year-on-year rise in assets under management (AUM), to reach a total of €80 billion in 2014.
This is the first time Candriam has released a progress report since its acquisition by New York Life Investment Management in February last year.
2014 was a record year for the firm in terms of net new cash, which increased by €7.1 billion. This is the highest figure since 2006, and reflects inflows in both the retail and institutional business.
In line with European market trends, net inflows were highest in mixed products, at €1.8 billion, and in fixed income products, at €1.1 billion. The firm says equity and alternative funds also attracted strong new net cash inflows over 2014.
Some of Candriam’s equity funds ranked amongst the top 25% best performing funds over one year in 2014, including the European equities high conviction and small & mid cap strategies, the biotech-strategy and the sustainable emerging markets equity strategy, the firm says.
Last year the firm launched two new funds, one investing in listed global infrastructure stocks and another within the ‘smart beta’ range of products, focusing on equity with lower risk and higher quality.
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