UK - Institutional business accounted for e19.1bn of AXA Investment Managers' (AXA IM) record e29bn in new money in 2004, the firm has announced.
Reporting its financial results as at 31 December 2004, AXA IM said assets under management rose by e33bn to e345bn at year-end.
The firm said its institutional business had a “strong year”, winning institutional mandates worth more than e19bn across fixed income, equities, liability driven solutions, structured finance, real estate and private equity.
A record four new mandates were awarded to AXA IM following the public auction for the French government’s Retirement Reserve Fund (FRR).
“Since our inception in 1994 as an asset manager within the AXA Group, we have experienced a solid growth path, positioning us as one of the largest asset managers in Europe,” said CEO Nicolas Moreau.
“The ongoing development and evolution of each component of our multi-specialist model, in particular the strong investment performance within each dedicated investment team continues to provide us with a key competitive advantage.”
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