Dexia Asset Management’s half year activity report shows that assets under management remained stable, standing at EUR72.7bn as of 30 June 2013, compared to EUR72.9bn at the start of the year.
Adjusted net new cash (NNC) was slightly negative at -EUR192m YTD, but turned strongly positive in Q2 at +EUR1.467 bn.
The European business performed particularly well over the year with a positive NNC of +EUR1.4bn YTD due to strong net inflows in retail and private banking products and several new institutional mandates won.
Dexia AM funds have demonstrated strong performances and generated strong returns for investors. Several core products are ranked among the top 25 per cent best performing strategies in H1 2013 such as European equities, biotechnology, emerging equities, sustainable world equities, Euro convergence, emerging bonds, high yield and total return bonds.
Some 81 per cent of Dexia AM funds have a 3, 4 or 5 stars according Morningstar, well above the industry average of 67.5 per cent.
The alternative funds range posted strong performances in the first half, both in the low volatility strategies (index arbitrage, long short credit, risk arbitrage) as in the strategies with a higher volatility (such as systematic or global opportunities).
Naïm Abou-Jaoudé, chief executive of Dexia Asset Management, says: “Over the past year, we have succeeded in generating new business across Europe, collecting new assets in our distinct specialist strategies and delivering excellent performance across our product range. Dexia AM has received 24 awards across all asset classes so far this year. This success is testament to the continued confidence that our clients have in our products, our customer-focused model and our belief in responsibility and excellence across all areas of our business.”