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AXA IM and BNPP AM are progressively merging and streamlining our legal entities to create a unified structure. Whilst this is ongoing, we will continue to operate two seperate websites both branded BNPP AM. Learn more. 

Listed real estate – our perspectives for 2024

We saw a first technical rebound in the second half of 2023, linked to an easing of interest rate expectations. But the gap remains wide for public real estate companies, still trading at historical discounts relative to their asset values. 

Our outlook for the asset class remains favourable and we see the potential for a rally. Discover the views of Frédéric Tempel, Head of Listed Real Estate, AXA IM Alts. 

    AXA IM and BNPP AM are progressively merging

    AXA IM and BNPP AM are progressively merging and streamlining our legal entities to create a unified structure

    AXA Investment Managers joined BNP Paribas Group in July 2025. Following the merger of AXA Investment Managers Paris and BNP PARIBAS ASSET MANAGEMENT Europe and their respective holding companies on December 31, 2025, the combined company now operates under the BNP PARIBAS ASSET MANAGEMENT Europe name.