Candriam attributes positive net inflows in 2018 in part to new clients in Asia – particularly Japan – and Latin America.
The Brussels-based firm said growth in 2018 included net inflows of €7.7 billion and was achieved notably by expanding the company’s distribution footprint, including Asia and “especially” Japan.
Candriam announced in 2016 that it would open and office in Japan and the US – the latter country being where its parent New York Life is based.
Giving some key numbers from its 2018 results, the firm said it had last year also won “landmark” new mandates in France, Belgium, Italy and the Netherlands.
Assets under management reached a new high of €114.9 billion by the end of 2018. Over the last five years, the 70% – or €48 billion – increase in asset means that Candriam’s growth trajectory “stands among the best of the industry”, said Naïm Abou-Jaoudé, chief executive of the firm.
The firm said it now manages close to €40 billion in pure environmental, social and governance funds and mandates.
In the past year across all products, bond strategies proved the most popular, gaining €4.4 billion in net new money. Equities attracted €3 billion, mostly for the biotech sector.
In February 2018, the firm entered the European private equity real estate market by taking a 40% equity stake in Tristan Capital Partners. The deal enabled Candriam to add real estate, a “major asset class which continues to attract strong institutional investor demand”, to its offering.
Also last year the firm forged a strategic partnership with ABN Amro Investment Solutions to handle its direct investment management business. The partnership provided complementary products and distribution sources as well as clients.
Candriam also formed a partnership in risk arbitrage strategies with OFI AM, which has led to a new area for Candriam in the field of risk arbitrage. This field of investing has particularly strong potential for investors in the current market context, the firm said.
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