Revenues for BNP Paribas Investment Solutions division edged up 4.8% in 2012.
Investment Solutions posted, in all of the business units, a good rise in assets under management, up 5.6% compared to Dec. 31 2011, at 889 billion (842 billion euros as at Dec. 31 2011). This growth comes primarily from a favorable performance effect driven by the rise in financial markets, especially in the second half of the year, said BNP Paribas.
Net asset outflows for the year were 6.1 billion, due partly to a fund manager clients decision to insource a distribution contract.
As at 31 December 2012, Investment Solutions assets under management broke down as follows: 405 billion for asset management, 266 billion for wealth management, 170 billion euros for insurance, 35 billion for personal investors, and 13 billion for real estate services.
Investment Solutions revenues, which totaled 6.2 billion, were up 4.8% compared to 2011.
In the fourth quarter 2012, Investment Solutions revenues grew by 13.9% compared to the fourth quarter 2011, driven by the good performance of Wealth Management and Insurance.
(JDC)