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Axa IM gathers €12bn from third-party clients in 2021

The asset manager says alternative strategies were in 'high demand' during the year

Axa Investment Managers attracted €12bn of net new money from third-party clients last year, as both its core and alternative business lines recorded net inflows.

The fund arm of French insurer Axa reports today that its Axa IM Alts business, which comprises its real estate equity, private debt and alternative credit, private equity and infrastructure, and hedge funds expertise, gathered €15bn of net inflows last year, including €6bn from third-party clients.

The unit raised €18.2bn of capital, €10.2bn of which came from third parties, which was “largely directed” towards real estate equity, private debt and alternative credit.

At the end of 2021, assets under management at Axa IM Alts stood at €183bn, marking an increase of 14 per cent during the year.

Assets in the Axa IM Core division, which brings together the asset manager’s fixed income, equities and multi-asset platforms, recorded €5bn of net sales to third-party clients, taking assets under management to €594bn.

While revenues at Axa IM Alts grew by 18 per cent year on year to reach €591m, those at Axa IM Core were up 12 per cent at €872m.

Axa IM also says in its results statement that environmental, social and governance assets accounted for approximately 75 per cent of third-party net inflows across its business.

Marco Morelli, executive chairman of Axa IM, says: “2021 has been an excellent year […], with exceptional operational performance illustrated by strong revenues and underlying earnings growth. This was fuelled by both investment business units, Axa IM Alts and Axa IM Core, and all client segments.

“Our asset base is yet again reaching a historical high, due to commercial momentum with third-party clients and strong market levels.”