Candriam plans US and Japan push

Candriam Investors Group says it is to push further into the US and Japanese institutional markets. The Brussels-based firm, which is owned by New York Life Investment Management, said today it had recently opened a New York office and will also enter the Japanese institutional market by the end of the year. Naïm Abou-Jaoudé, chief executive of Candriam, said the firm’s growth comes despite a challenging global market environment. He said Candriam is developing its distribution capabilities in new markets such as Switzerland, Italy, Germany and the UK. Candriam reports assets under management (AUM) growth of €2.5 billion in the first half of the year. As of June 30, the firm’s AuM stood at  €96.6 billion, up from €94.1 billion at the end of last year. The bulk of the growth was driven by net inflows of €2.3 billion, with emerging market, high yield bonds and total return strategies attracting most of the new money. In February 2014, Candriam rebranded, changing its name from Dexia Asset Management. Since then, its AuM has increased by 45% (€30 billion). ©2016 funds europe

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