Candriam reports record assets

Naïm Abou JaoudéCandriam Investors Group increased assets under management (AUM) by 13% in the first half of 2015, taking total AUM to €90.7 billion.

Net new cash inflows for the first half of the year were €8 billion and exceeded 2014’s full-year figure.

The results mark 18 months since New York Life Investment Management (NYLIM) acquired Candriam, which was then known as Dexia Asset Management before a rebrand.

Candriam says fund inflows, investment in strategic growth markets and cross-Atlantic distribution opportunities with NYLIM all helped growth and that over eight-in-ten Candriam funds maintained an above average rating from Morningstar.

Candriam saw the greatest inflows into its multi-asset strategies (€4 billion), its thematic strategies (€1 billion) and its specialist fixed income products (€3 billion).

Its absolute performance strategies, particularly long-short equity, also saw around €700 million of inflows, the firm says.

Equity strategies had €600 million of inflows in the first half of 2015 with interest concentrated in high conviction and sustainable equity strategies.

Candriam now has two fund sub-advisory partnerships with NYLIM’s retail platform in the US, and as the European retail distribution platform of NYLIM has begun selecting strategies from US NYLIM boutiques to bring to Europe.

Commenting on the first half results, chief executive officer of Candriam Investors Group, Naïm Abou-Jaoudé (who is interviewed in the upcoming September issue of Funds Europe), says that the firm has made headway in pan-European distribution, increased its footprint in growing markets, and maintained a strong position with institutional clients and third-party distributors.

©2015 funds europe