During 2023, Eurizon, asset management company of the Intesa Sanpaolo Group specializing in the management of products and services for retail and institutional clients, it has experienced significant growth in its assets under management in Spain. At the end of June 2023, Eurizon's assets in Spain amounted to aun unprecedented value of 1,8 billion euros, marking a notable increase compared to the 850 million euros recorded at the end of March.
The success of Eurizon's bond strategies
During the first half of 2023, Eurizon's bond strategies recorded a net inflow of over 943 million euros, consolidating Eurizon's position as one of the leading international asset management companies on the Spanish market. Institutional investors have shown strong interest in Eurozone and US government bond strategies, Chinese renminbi-denominated bonds and green bond funds. Some of these products have been recognized at the Lipper Fund Awards 2023 in several European countries.
During an information meeting in Madrid, Saverio Perissinotto, CEO of Eurizon, commented on the importance of consolidating Eurizon's reputation on the international market, also focusing on leadership in Italy. Perissinotto underlined that Spain is a key market for the expansion of Eurizon and for the development of commercial relations with local investors.
Attractive investment opportunities according to Eurizon experts
Bruno Patain, Country Manager Spain and Portugal at Eurizon, provided further details on the corporate strategy for the next twelve months. Eurizon intends to continue to promote its expertise mainly in the sector of bond investments in developed markets. However, once interest rates in Europe and the US begin to decline, the asset management firm will focus its attention on emerging products, including the Chinese market.
During the press event, Andrea Conti, Head of Macro Research at Eurizon, presented the forecasts for the second half of 2023. Conti hypothesized the possibility of a "soft landing", without a recession, for the world economy, including the United States and Europe. He noted that government bond markets are becoming increasingly attractive as the end of monetary policy tightening approaches, as markets may perceive a risk of an economic slowdown. Additionally, you pointed out that credit and equity are attractively valued, with potential for volatility. Any declines could represent opportunity to accumulate positions.
The potential of Chinese bonds
With regard to China, Stephen Li Jen, CEO of Eurizon SLJ Capital and head of the team specializing in Rmb-denominated bond investments, highlighted the country's economic potential. However, he stressed that China is facing trust issues that will require strong and sustained policies by the authorities to restore. Li Jen further claimed that Chinese bonds showed a good performance and could still represent interesting opportunities, benefiting from the strengthening of the RMB currency.
