Rain of profits for Eurizon, the asset management company of Intesa Sanpaolo led by Saverio Perissinotto. In the first nine months of 2021 Eurizon recorded a Net income equal to 577,7 million euros, up by 36% on the same period of 2020. A strong increase (+27%) also the commission margin, which rose to 886,6 million euros, while the cost/income ratio it settled below 19%, further reducing from the level of 21,7% in September 2020.
Since January 2021, the net assets it grew by 3,6% to 432 billion euro, "favored by funding flows both in Italy and abroad and by market trends", explains the company in a note. In the first 9 months of 2021 the net collection increased to 7,5 billion euros. The flows on are very positive open funds, with 7,8 billion, mainly thanks to the contribution of balanced fundsi (+3 billion), equity (+2,8 billion) e bonds (+2,1 billion). Looking at the third quarter alone, the overall flows recorded a strong acceleration, reaching 5,6 billion, "a third of the flows of the asset management industry in Italy, of which 4,1 billion from open-ended funds alone", says know Eurizon, which then underlines the results achieved by Penghua Fund Management.
At the end of September, the Chinese company (49% owned) exceeded 130 billion euros in assets, up 27% from the beginning of the year and 31% over twelve months, with inflows approaching 20 billion euros in first nine months of 2021. The hub in Eastern Europe, on the other hand, closed the third quarter of 2021 with assets of 3,7 billion euros.
“The results achieved in terms of net inflows and expressed profitability characterize these first quarters of 2021 as a very positive year for Eurizon, the result of the great teamwork of the people in the asset management division together with the distribution networks of the Intesa Sanpaolo group and institutional customers third. Our growth and development path continues abroad as well, where important results have been achieved”, he comments – commented the CEO of Eurizon, Saverio Perissinotto.
Along with the first nine months of 2021 accounts, the company also announced its adherence to the Net Zero Asset Managers Initiative, the alliance that brings together asset management companies committed to supporting the goal of net zero greenhouse gas emissions by 2050, andInstitutional Investors Group on Climate Change (IIGCC), the European body for investor cooperation on climate change acting to help reduce carbon emissions.
