BNP Paribas Asset Management put in a “stable” performance in the first quarter of the year, reflected in a steady rise in its assets under management (AuM).
The French fund management house saw AuM reach €1,051 billion, a 0.9% rise compared to the first quarter of 2017.
The bulk of AuM – €424 billion – came from asset management, followed by wealth management. The remainder was split between insurance and property services.
The firm reported net fund inflows of €12.9 billion with “very good” inflows into wealth management, particularly in France and in Asia.
There were also strong asset inflows at asset management into bond, money market and equity funds.
Wealth and asset management’s revenues went up by 2.8% compared to the first quarter 2017, reflecting a good overall performance despite fewer capital gains at asset management, the firm said.
In February the company acquired the wealth management and insurance activities of ABN Amro Bank Luxembourg.
The group’s securities services’ revenues rose by 5.7% to €505 million compared to the first quarter of last year.
Assets under custody and under administration were up by 5.3% compared to 31 March 2017.
In April the business finalised its partnership in the United States with Janus Henderson Investors.
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