The robust nature of global property prices was reflected in today’s financial results announced by asset management giants AXA IM.

While the Coronavirus pandemic has damaged huge swatches of the global economy, property has become even more of a ‘safe haven’ for investors with the French company reporting a three-fold increase in money entering the business compared to 2019.

This helped drive AXA IM through the $1tn assets-under-management barrier (up 7%) while underlying earnings for 2020 were up 6% and revenues rose 4%.

AXA IM’s executive chairman Marco Morelli said: “AXA IM has recorded an excellent performance in 2020, in what has truly been an exceptional and challenging year for the industry, businesses and individuals. Our diversified and global approach based on solid convictions has been instrumental in navigating through the uncertain market environment.”