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Candriam reveals total net flows since Dexia escape

AUM riseBrussels-based Candriam, which troubled Dexia bank sold in 2014, said it had recorded €33 billion of net inflows since that year.

Reporting its annual results today, the firm said the inflows had contributed to an overall €46 billion growth in assets under management (AUM) since the same year, when Candriam started out with about €73 billion.

Dexia, the Belgian bank that was bailed-out during the financial crisis, sold Dexia Asset Management (since rebranded as Candriam) to New York Life Investment Management in 2014.

In its results announced today, Candriam said total AUM reached €112.6 billion at the end of 2017, a 10.5% increase over the previous year.

Net inflows for 2017 were €7.1 billion, and the firm said growth was achieved “notably through the signature of several major mandates, which expanded the distribution footprint in Europe and internationally”.

Candriam said it had signed up 100 new institutional clients in 2017.

The firm also reported “particularly strong” distribution in France, Belgium, Italy, Spain and Switzerland.

Bond strategies proved most popular, pulling in €3 billion in net new cash, especially in emerging markets (€1 billion) and fixed income credit (€500 million).

Naïm Abou-Jaoudé, chief executive of Candriam, who Funds Europe interviewed in 2015, said: “The growth we recorded in 2017 is a great recognition of the long-term trusted relationships our teams have built with all of our clients.”

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