Peak earnings for Mediolanum. The group ended the first quarter of 2014 with profits of €80,9 million, down 41% on the same period of 2013, which had benefited from above-average performance fees, higher realized capital gains and lower overheads. This is what the company reports in a press release.
Total assets under management and administration rose to 58,9 billion, with an increase of 10% compared to the first quarter of 2013. As regards the subsidiary Banca Mediolanum in particular, net inflows were positive by 859 million.
After the publication of these numbers, Mediolanum shares lost almost three percentage points in Piazza Affari in the early afternoon.
