Aegon Asset Management has reported a 55% decline in profits before tax in Q2 2022 compared to the same period last year, as volatile equity markets takes its toll.
Year-to-date, the firm's profit are down 33% totalling €94m, a decrease from €141m this time last year, while AUM decreased by €76bn year-on-year, now standing at €315bn. According to these half-yearly results, this was due to "unfavourable market movements and a transfer of €49bn AUM which reflects the completion of the divestment of LBPAM's 45% stake in Ostrum AM". Four graphs explaining...
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