Candriam, the Brussels-based asset manager owned by New York Life Investment Management, has broken through the €100 billion of assets under management (AUM) milestone.
The 8.5% increase in AUM to €102 billion was driven partly by €5.5 billion of net new investments, the firm said in its full-year results today.
Significantly, more than half of the net new money last year came from new clients.
Institutional money was the main driver of growth, the firm said, adding that its AUM had grown 50% over the last three years.
High yield, with €2 billion of net flows, and emerging market debt and equities, with €900 million, were the highest contributors to flows, and distribution was strongest in France, Belgium, Spain, Switzerland and Italy.
The results come three years after Dexia, a Belgian bank that had to be bailed-out during the financial crisis, sold Candriam, which at the time had $100 billion (then equivalent to €73 billion) of AUM.
©2017 funds europe
