FRANCE - AXA Investment Managers said it enjoyed a successful year in 2002, with an 11% increase in total net revenues and an 8% rise in operating income year-on-year from 2001.
The asset manager had net inflows of E4.1bn for its institutional business. Of this amount, the closing of three substantial collateralised debt obligation deals accounted for inflows of E3.5bn.
AXA IM also scored an E100m balanced mandate from AGIRC, the French Pension Regulation Authority.
AXA Rosenberg attracted US$1.7bn of new third-party assets.
In this week's Pensions Buzz survey, we want to know whether or not you agree with Lord Myners' opinion that asset owners, such as pension funds, are substantially to blame for short-termism in business.
The combined funding level decreased by just over four percentage points by the end of last month to 93.6%, according to the Pension Protection Fund's (PPF) latest update.
Plastics manufacturer Carclo has missed yet another dividend as it continues to battle its defined benefit (DB) pension funding shortfall.