Natixis Investment Managers' assets under management grew 3.4% for the quarter and 1.4% for the year to €846 billion ($985.4 billion).
A financial update by the money manager's parent bank Natixis said money management net inflows totaled €10 billion for the three months ended June 30, compared with €6 billion in net inflows for the previous quarter and €9 billion for the quarter ended June 30, 2017.
European assets under management accounted for €413 billion of the total, with the remainder North American assets. Net inflows were €7 billion in Europe, driven mainly by liquid alternative strategies under the firm's H2O Asset Management affiliate, and €3 billion in North America, largely driven by Harris Associates.
Market effects detracted €4 billion from assets under management, but foreign-exchange impacts added €22 billion in the quarter.
Net revenue for the money management arm increased 5.8% for the quarter ended June 30 and 9.7% vs. the year-earlier quarter, to €782 million. Pre-tax profit for asset and wealth management businesses grew 7.3% for the quarter and 19.8% compared with the quarter ended June 30, 2017, to €266 million. Figures were not split out for money management.
