Eurizon, the asset management company of the Intesa Sanpaolo Group, specialized in the management of products and services for retail and institutional customers, closed the first quarter of 2017 with growing figures for all the main financial indicators. This was communicated by the group that renewed the image and logo and achieved a assets under management, at the end of March, of 295,4 billion euro, (+2% on the end of 2016).
The consolidated net profit (including minority interests) in the quarter amounted to 118,2 million, up by 28,5% compared to the same period of 2016. The commission margin reached 156,8 million, with a growth of 24,5. XNUMX% compared to the first quarter of the previous year.
“We are very satisfied with the results achieved in this first quarter, which bear witness to the strengthening of the growth trend and an increasingly incisive positioning on the market”, states Tommaso Corcos, Chief Executive Officer of Eurizon.
I net flows in the period exceed 5 billion and are mainly determined by mutual funds which, with 4,5 billion, represent approximately 30% of the collection of open-ended funds of Italian industry according to Assogestioni data at the end of March 2017. The categories of funds that contribute to this important result are mainly flexible and bond, with respectively 2,5 and 2,2 billion euros of net revenues in the period.
At the end of March, Eurizon's total assets stood at 373 billion euros, including the 78 billion euros of Penghua in China.
As regards the European subsidiaries, the equity of Eurizon SLJ Capital LTD is confirmed at approximately 8,2 billion euro, between management mandates and advisory services, while theHUB on Eastern European countries reaches 3,57 billion euros, mainly thanks to the contribution of VUB AM and PBZ Invest.
Lastly, Eurizon reminds us that a total of 26 new products were launched during the quarter: 22 Italian funds and 4 Luxembourg sub-funds, aimed at both institutional customers and the retail world.
They deserve a special look the first Pir launched in February, Eurizon Progetto Italia, which recorded "immediately strong interest from investors". At the beginning of May, states the Eurizon press release, approximately 800 million euros were raised, of which over 500 on PIR funds from retail customers and the remainder in the context of mandates received from institutional customers.
