Eurizon Capital, the asset management company of the Intesa Sanpaolo Group, specialized in products for retail and institutional customers, strengthened its position in 2016, in Italy and abroad, highlighting positive figures in all its main financial indicators.
Assets under management at the end of December reached 290 billion euro, an increase of almost 9% compared to the end of 2015, thanks to significant inflow volumes, both on retail and institutional products.
Consolidated net income (including minority interests) is 368 million euros, deriving from a commission margin of 567 million.
Total net flows in the twelve months exceed 18 billion euro – of which 6 billion in the last quarter alone – and represent a third of the collection of all Italian industry, according to Assogestioni data at the end of December. Eurizon Capital stands out in particular for flows on institutional portfolio management, with 9 billion in net income, and on open-end mutual funds, with a total of 12,7 billion. The latter went mainly to flexible funds for 7,4 billion and to bonds for 5,6 billion.
The strengthening of the brand is also confirmed on the international front: Eurizon Capital is first in Europe for inflows into mutual funds according to analyzes by Morningstar Direct.
In China, Penghua closed the year with funding volumes exceeding 23 billion euro and with assets of approximately 84 billion, which bring the perimeter of Eurizon Capital to over 370 billion euro overall. Furthermore, the presence in China was enriched in the last quarter of 2016 with the 20% stake in Yicai, a Wealth Management company headed by the Intesa Sanpaolo Group.
On 14 December, reinforcing the strategic collaboration between Eurizon Capital and the Group's International Subsidiary Banks Division, the purchase operation was finalized by the Luxembourg-based Eurizon Capital SA of the shares in VUB AM held by VUB Bank and Privredna Banka Zagreb. Eurizon Capital SA therefore became the sole shareholder of the Intesa Sanpaolo Group's HUB on Eastern European countries which, with inflows for the year of over 220 million euro, at the end of 2016 had assets of 3,5 billion.
Furthermore, Eurizon SLJ Capital LTD, a London company operating since last July, closed 2016 with assets of approximately 8,5 billion euro in management mandates and advisory services.
In 2016 Eurizon Capital opened a new branch in Paris, started the procedures for a branch in Frankfurt and for the placement of its product range in Switzerland. In Spain, in the countries of Northern Europe and in Latin America, especially in Chile, the presence of the brand was strengthened, thanks to partnerships with local distributors.
Lastly, Eurizon Capital obtained the licenses with its Hong Kong branch to carry out the management activity envisaged for the first half of 2017.
