Historical heritage record for Eurizon. The asset management company of the Intesa Sanpaolo group closed 2021 with assets of 439 billion euros, up 5,2% from the beginning of the year thanks to funding flows both in Italy and abroad and the trend of the markets.
Eurizon's 2021 accounts
In sharp rise in consolidated net income, which at 31 December 2021 stood at 813 million euros, up 25% on the previous year. Double-digit increase (+19,5%) also for the commission margin, a result of 1,282 billion euro. The cost/income ratio stood at 16%.
in 2021 net collection total reached 9,9 billion euros, driven by the success of open-ended funds which recorded net flows of 12 billion euros. On the other hand, inflows from Portfolio Management (retail and institutional) were negative for 2,9 billion.
In terms of sustainability, in 2021 Eurizon's ESG investments they amounted to 110 billion euro, a figure equal to 46% of the assets of the funds, with 172 products classified as articles 8 and 9 of the SFDR regulation, "which therefore promote, among others, environmental or social characteristics, or which have sustainable investment objectives", underlines Eurizon in a note.
The investee Penghua Fund Management
2021 was also positive for the Chinese company Penghua Fund Management (49% owned by Eurizon), which closed the year with a assets of 144,5 billion euro, up 41% since the beginning of 2021, with funding exceeding 28 billion euros in the twelve months.
The comment of the CEO of Eurizon
“We are satisfied – he declared Saverio Perissinotto, managing director of Eurizon – of the results achieved that have led the company to achieve important goals in all performance indicators during 2021”. "We are preparing to face the challenges of the new industrial plan which sees asset management as one of the key businesses for the achievement of the Intesa Sanpaolo group's growth objectives in Italy and abroad", he added.
The other news
Eurizon highlighted that further steps have been completed in the process of integrating the asset management activities deriving fromthe Ub Groupi, following the merger – operational from 1 July 2021 – of Pramerica SGR SpA (Italy) and Pramerica Management Company SA (Luxembourg) respectively into Eurizon Capital SGR SpA and into the Luxembourg subsidiary Eurizon Capital SA In the fourth quarter of last year completed migration of assets Custodian Bank, of calculating the value of the share and of the management system of mutual funds of the former Pramerica range.
Finally, on 31 January 2022 the partnership with Poste Italiane in execution of the framework agreement announced on 14 July, under which: Poste Vita and BancoPosta Fondi SGR are enter the share capital of Eurizon Capital Real Asset through the subscription of a dedicated capital increase.
The Poste Italiane group therefore holds 40% of the share capital (24,50% with voting rights), Intesa Sanpaolo Vita 40% of the share capital (24,50% with voting rights) and Eurizon 20% of the share capital (51% with the right to vote).
“Amounts under management remain attributable to Eurizon in whose balance sheet ECRA continues to be 100% consolidated. Poste Vita has also entrusted an investment mandate of 2,5 billion euros to ECRA, whose assets under management therefore go from 6,3 billion euros as at 31 December 2021 to 8,8 billion", Eurizon said in a note. .
