French investment bank Natixis has reported record net flows for its global asset management (GAM) business in the first quarter (Q1) of 2015.
Following two record years of net flows, Natixis Global Asset Management reached a new high at €19 billion of net flows in Q1 2015, with the US accounting for €11 billion and Europe €8 billion.
In 2014, the firm gathered €28 billion in total net flows, making the Q1 results a particularly strong start to this year.
Natixis GAM also saw a revenue increase of 31% versus Q1 2014, with net revenues at €639 million.
Assets under management for the firm totaled €820 billion as of March 31, 2015, an €84 billion increase over the past three months. Natixis says this increase was due to the high inflows, combined with €18 billion positive market effect and €47 billion of positive currency and perimeter effects.
Laurent Mignon, Natixis chief executive officer, says: “Our three core businesses performed very solidly in first-quarter 2015, posting sharp increases in both revenues and profitability. Our key franchises continued to expand, driven particularly by record net inflow in asset management.”
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