20230316_兴业证券_非银金融行业资管通鉴系列十二：法国篇以参股形成业务集群的法盛资管_20页.pdf
请 务必阅读 正文之 后的信 息披露 和重要声 明 industryId investSuggestion(investSuggestionChange 2022E 2023E 0.30 0.41 0.67 0.80 0.80 0.95 1.38 1.78 0.86 1.13 0.86 1.13 relatedReport 2023-02-09 2023-02-05 2022-12-05 AMG 2022-08-02 ETF 2022-06-22 emailAuthor S0190521060001 S0190521060002 assAuthor summary BPCE Natixis 1 2 BPCE 900 14 15 BPCE Natixis 3 1 2010-2021 8.1%14.1 36.0 2 2008-2021 AUM 0.45 1.25 7.6%AUM 3 76 35 4 46%5 12 1 20 10-4000 2 3 title createTime1 2023 03 16 请 务必阅读 正文之 后的信 息披露 和重要声 明-2-1 BPCE“”.-3-1.1.-3-1.2 BPCE Natixis.-4-1.3.-5-2.-7-2.1.-7-2.2 AUM.-8-2.3.-11-3.-12-3.1.-12-3.2.-14-3.3.-16-4.-17-1 BPCE.-5-2.-7-3.-7-4 AUM.-8-5 AUM.-9-6 AUM.-10-7.-10-8 2021.-10-9.-12-10.-13-11.-15-12.-15-13.-15-14.-16-15.-17-16.-17-17.-17-18.-17-1.-4-2.-6-3 5.-11-4.-13-1ZEVxOmRpMmNsMoNrMpQpO7N8Q7NpNrRsQnOeRpPpMiNpOpQ6MrRxPuOtPpRvPnMrP 请 务必阅读 正文之 后的信 息披露 和重要声 明-3-1 BPCE 1.1 Natixis Investment Managers BPCE Natixis 2006 Banque Populaire Caisse d Epargne Natixis 2006-2009 BPCE Natixis 1818 1878 2006 Natixis 2009 BPCE Natixis BPCE NGAM Natixis Global asset Management CNP Assurances Natixis NGAM NGAM Natixis NGAM 2010-2017 Natixis 2015 6 30 NGAM DNCA Finance 2016 Banque Postale Ciloger AEW Europe AEW Europe 250 NGAM 60%40%AEW Europe Natixis 2017 Natixis Global Asset Management NGAM Natixis Investment Manager Investors Mutual Limited 51.9%Natixis Mirova Althelia Ecosphere51%2018-2018 Airborne Capital 请 务必阅读 正文之 后的信 息披露 和重要声 明-4-MV Credit WCM Investment Management Euro PE Caspian private equity Eagle Asia Flexstone Partners 2019 Thematics Asset Management 2020 LBP AM Ostrum Asset Management 2022 2024 Mirova SunFunder 1 2015 DNCA Finance 2016 AEW Europe 2017 Investors Mutual Limited 2018 Airborne Capital 2018 MV Credit 2018 WCM Investment Management 2018 Flexstone Partners 2019 Thematics Asset Management 2020 Ostrum Asset Management 2022 12 31 1.2 20 200 53 1.2 BPCE Natixis 900 BPCE SA BPCE 14 15 请 务必阅读 正文之 后的信 息披露 和重要声 明-5-FNBP FNCE Natixis Investment Managers BPCE Natixis Natixis Natixis BPCE 1 BPCE 1.3 BPCE 1 BPCE Natixis 2 3 请 务必阅读 正文之 后的信 息披露 和重要声 明-6-2 Tim Ryan 2021 4 Natixis 1992 2000 AXA 2003 2008 Alliance Bernstein EMEA 2017 Generali Jean-Marc Sabatier Natixis NH-CA Justin Rosen 2013 APAC Natixis Cyril Marie 2009 Cyril Natixis 2002 2006 BPCE 1999 2002 BBSP Alix Boisaubert Ostrum Asset Management Christophe Lanne 1990 1995 1998/1999 2002 Indosuez 2005 2010 Natixis 2012 2015 Natixis 2017 2021 Alain Bruneau 2016 Natixis Exane BNP Paribas Deutsche Bank NYSE Euronext Citi Eric Ward Natixis 2004 Linklaters Hughes Hubbard&Reed LLP 请 务必阅读 正文之 后的信 息披露 和重要声 明-7-1996 1997 2 2.1 2010-2021 14.1 36.0 8.1%2014 2014-2021 7.3%5.7 10.0 2016 1 2015 2016 2 AUM 2020 2014-2021 2014-2019 26.6%35.9%2020 26.8%2 3-50%-40%-30%-20%-10%0%10%20%30%40%50%60%05101520253035402010A 2011A 2012A 2013A 2014A 2015A 2016A 2017A 2018A 2019A 2020A 2021A yoy yoy25%27%29%31%33%35%37%2014A 2015A 2016A 2017A 2018A 2019A 2020A 2021A 请 务必阅读 正文之 后的信 息披露 和重要声 明-8-2.2 AUM AUM 2008-2021 0.45 1.25 7.6%4 AUM AUM 2008-2021 AUM 7985 783 897 4477 1956 AUM 4000 2020 LBP AM Ostrum Asset Management 1777 AUM-10%-5%0%5%10%15%20%25%0.00.20.40.60.81.01.21.42008A 2009A 2010A 2011A 2012A 2013A 2014A 2015A 2016A 2017A 2018A 2019A 2020A 2021A AUM AUM 请 务必阅读 正文之 后的信 息披露 和重要声 明-9-5 AUM AUM 2022 6 30 13590 8948 65.8%AUM 3534 26.0%8.2%1108 BPCE CNP Assurances 2022 6 30 3065 1970 38.5%24.8%1169 679 542 528 14.7%8.5%6.8%6.6%2020 LBP AM Ostrum Asset Management 2022 6 30 5458 1943 89.7%90.9%-128.6%111.4%97.9%31.3%-18.4%108.9%50.9%154.0%76.5%29.2%53.2%-1,000-50005001,0001,5002,0002,5002009A 2010A 2011A 2012A 2013A 2014A 2015A 2016A 2017A 2018A 2019A 2020A 2021A 请 务必阅读 正文之 后的信 息披露 和重要声 明-10-68.6%24.4%315 180 57 4.0%2.3%0.7%7%BPCE 2012-2018 0.25%0.31%2019-2021 2019-2020 Ostrum Asset Management 2021 0.03%0.39%0.35%7 8 2021 Results for Q4 and full year 2021 202224262830322012A 2013A 2014A 2015A 2016A 2017A 2018A 2019A 2020A 2021Abps 35433932505101520253035404550bps 6 AUM 请 务必阅读 正文之 后的信 息披露 和重要声 明-11-2.3 115 55 39 8 13 76 35 4 46%12 5 7 4 1 3 5 AUM 1 3 5 DNCA Invest Eurose 20.6 2007-06-21 5.77%3.57%1.66%Ossiam Shiller Barclays CAPE US Sector Value TR$18.7 2015-06-22 1.75%17.27%14.48%DNCA Invest-SRI Europe Growth 12.6 2012-12-28 3.65%9.98%8.87%DNCA Invest-SRI Norden Europe 5.5 2016-11-02-4.40%10.80%10.93%DNCA Invest-Archer Mid-Cap Europe 3.0 2016-06-24 11.09%14.30%8.25%Ossiam Shiller Barclays CAPE Europe Sector Value TR 1.4 2014-12-30 9.70%13.19%9.31%Vaughan Nelson U.S.Select Equity Fund$0.6 2004-04-22-5.09%16.55%10.68%Loomis Sayles Global Emerging Markets Equity Fund$0.6 2019-10-07-8.31%11.27%-DNCA Invest-Flex Inflation 5.2 2017-12-13-1.83%4.35%2.54%Ostrum Euro Inflation 1.0 2013-12-12-5.66%2.53%2.32%Ostrum Fixed Income Multi Strategies 0.7 2017-06-19 0.14%1.01%1.38%Ostrum Short Term Global High Income Fund$0.5 2013-10-09 3.30%2.63%2.80%2023.3.7 Mirova Thematics 请 务必阅读 正文之 后的信 息披露 和重要声 明-12-9 3 3.1 2016 BPCE Ciloger AEW Europe AEW Europe 2017 Investors Mutual Limited 51.9%2018 MV Credit WCM Investment Management 2019 Thematics Asset Management 2020 LBP AM Ostrum Asset Management 100%请 务必阅读 正文之 后的信 息披露 和重要声 明-13-200 2022 12 30 20 10 4 AUM Seventure Partners 10 Dorval Asset Management 14 Thematics Asset Management 29 Investors Mutual Limited 31 MV Credit 47 Flexstone Partners 58 Naxicap Partners 72 SME ETI Vauban Infrastructure Partners 79 请 务必阅读 正文之 后的信 息披露 和重要声 明-14-AlphaSimplex Group 82 Ossiam 83 ETF Gateway Investment Advisers 86 Vaughan Nelson Investment Management 130 Mirova 290 DNCA Investments 298 SRI Natixis Investment Managers Solutions 500 AEW 721 WCM Investment Management 721 Harris Associates 941 Loomis,Sayles&Company 2821 Ostrum Asset Management 4034 3.2 Natixis Investment Managers Solutions Natixis Investment Managers Solutions 20 70 Natixis Investment Managers Solutions 请 务必阅读 正文之 后的信 息披露 和重要声 明-15-11 12 1 2 ESG ESG ESG 3 4 5 13 请 务必阅读 正文之 后的信 息披露 和重要声 明-16-2022 12 31 53 23 14 3.3 2010 Natixis Center for Investor Insight 30 请 务必阅读 正文之 后的信 息披露 和重要声 明-17-15 16 Natixis Portfolio Clarity 17 18 4 1 AUM 2 请 务必阅读 正文之 后的信 息披露 和重要声 明-18-3 请 务必阅读 正文之 后的信 息披露 和重要声 明-19-12 A 300 500 15%5%15%-5%5%-5%/1934 15a-6/36 15 200135 6 SK 32 01-08 100020 5001 T2 52 518035 前沿报告库是中国新经济产业咨询报告共享平台。行业范围涵盖新一代信息技术、5G、物联网、新能源、新材料、新消费、大健康、大数据、智能制造等新兴领域。为企事业单位、科研院所、投融资机构等提供研究和决策参考。扫一扫免费获取海量报告
