Axa Investment Managers has reached its highest level of assets under management (AUM), the firm said, hitting €858 billion – or US$ 1 trillion for the first time.
Axa IM, owned by insurer Axa SA, said the growth was mainly down to “dynamic sales efforts” that led to inflows of €40 billion, including from third parties.
AUM increased by €57 billion in 2020 and revenues increased 4% to €1.294 billion.
External clients contributed €18 billion, with fixed income and real assets in high demand and “ESG-integrated assets” accounting for around a third of net inflows from third parties.
Marco Morelli, executive chairman, said: “This past year has evidenced the importance of active management in volatile markets, this has been a very strong year of investment performance across our business.”
The firm’s alternatives business raised €14.6 billion of capital on a gross basis, leading to €159 billion of AuM. Axa IM raised €9.4 billion in private debt and alternative credit and €1.25 billion for infrastructure debt through a mandate for two Dutch pension funds.
The business unit also raised €1.3 billion in private equity and infrastructure, partly through the acquisition of Kadans Science Partner platform in November.
In core bond, equity and multi-asset investments, the firm had €17 billion of net inflows and €559 billion of asset under management
US high yield saw “significant appetite” from clients following the market downturn in March 2020.
The thematics fund range, with more than €11 billion of AuM, benefitted from Axa IM Framlington Equities’ robotech, digital economy and clean economy strategies. This range now accounts for more than €11 billion of assets under management.
© 2021 funds Europe