Eurizon, the asset management company of the Intesa Sanpaolo Group, which specialises in the management of products and services for retail and institutional customers, has closed the first quarter of 2017 with increased values in all the main financial indicators.
At the end of March, assets under management reached 295.4 billion euro, up 2% compared to the end of 2016, thanks to the considerable inflows. Consolidated net income (including minority interests) in the quarter is equal to 118.2million euro, up 28.5% compared to the same period in 2016. Fee and commission income has reached 156.8 million euro, growing by 24.5% compared to the first quarter in the previous year.
Net inflows in the period exceed 5 billion euro, and are mainly determined by the mutual funds, which, with 4.5 billion euro, make up about 30% of the inflows on the open funds of the Italian industry, according to the data of Assogestioni11 at the end of March 2017.
The categories of funds that contribute to this major result are mainly flexible and bond funds, respectively with 2.5 and 2.2 billion euro of net income in the period.
At the end of March, Eurizon’s total capital was equal to about 373 billion euro, including 78 billion euro of Penghua, China.
Regarding the European subsidiaries, the capital of Eurizon SLJ Capital LTD has been confirmed in the approximate amount of 8.2 billion euro, including management mandates and advisory services, whereas the HUB for Eastern European countries has reached 3.57 billion euro, most of all thanks to the contribution of VUB AM and PBZ Invest.
Eurizon has been recognized Best Italian Asset Management Company in the category 101 to 200 rated funds at the European Funds Trophy 2017. Eurizon’s manyyear- long best expertise includes in particular Eurizon Fund Bond High Yield, winner of 5 Thomson Reuters Lipper Fund Awards, including best 10-year fund in Europe in its category.
A total of 26 new products have been launched in the relevant quarter: 22 Italian funds and 4 Luxembourg sub-funds, intended for institutional and retail customers. On 28 February, the first PIR compliant funds were officially launched, called “Eurizon Progetto Italia”. The Intesa Sanpaolo Group – the first one in Italy to market Individual Savings Plans – has soon received great attention from the investors. By the beginning of May, about 800 million euro had been collected, 500 million of which on PIR funds, coming from retail customers, while the remaining part is related to mandates granted by institutional customers.
In February, the Luxembourg umbrella fund Eurizon EasyFund has been reorganized and renewed, and it is now called Eurizon Fund. The previously existing and consolidated “Linea LTE”, “Linea Active Market” and “Linea Active Strategy” are now flanked by the new “Linea Factors”, whose main characteristic is the existence of subfunds managed with a quantitative factorial approach. Product innovation also materializes in the institution of new sub-funds, which diversify the offer on a few particularly interesting market segments, using Eurizon’s best expertise in Italy and abroad, including Bond Aggregate Euro and Global Multi Credit.
One of the new features of the Eurizon Fund product range is Sustainable Global Equity, an international equity fund that uses ESG (Environment Social Governance) criteria for the selection of enterprises with sustainable competitive advantages.
Since last March, Eurizon’s commitment to implementing the ESG principles has been officially extended to the entire range of products offered, integrating the ESG criteria in the investment process of the products managed. The company endeavours to produce performance, combining financial choices and observance of the principles of responsibility, with a proactive role in terms of environmental, social and governance factors.
In March 2017, Eurizon has renewed its institutional image, presenting a new logo and layout, in support of the growth strategy on the various markets and multiple targets. Each performance is the result of our values: it is the new mission statement that stresses the key role played by the people in the achievement of increasingly more ambitious goals.
“We are very satisfied with the results achieved in this first quarter, which point to strengthened growth trends and an even more incisive market positioning”, says Tommaso Corcos, CEO of Eurizon. “Thanks to the solidity of the position reached and the quality of our people, we have renewed our image and logo to convey the increasingly more international vision that the company is developing and underline that each performance is the result of the application of our values, which materialize in the integration of the ESG criteria into the investment process, demonstrating our real commitment to the development of a sustainable system of enterprises and a continuous support to the real economy, as demonstrated by the great success of the PIR products”.