Eurizon Capital, the Intesa Sanpaolo Group’s asset management firm, achieved further growth across the board, in terms of balance sheet data, P&L, and investment inflows.
Balance sheet data as at the end of June highlighted a consolidated net profit (including minority interests) of €227m, 73.5% higher than in the same period of 2014, and fees of €329m, up by almost 48% vs. the first half of 2014.
Eurizon Capital and its subsidiaries stacked up assets under management of €258.3bn as at June, expanding their market share in Italy to 15.7%.
Net investment inflows experienced a record-breaking semester. Based on Assogestioni data, Eurizon Capital tops the table with €28.2bn, accounting for around 30% of the Italian asset
management industry’s total net inflows in the period. Investment inflow leadership was confirmed in both the mutual funds segment, and in portfolio management for both institutional and retail customers.
In the latter segment in particular, with around €7.5bn in inflows, Eurizon Capital commands half of the industry’s overall net investment inflows.
Broken down net inflow data show that open funds account for 58% of total customer investments, attracting €16.4bn, and Individual portfolios, institutional and retail customers account for the remaining 42%, totalling €11.8bn.
Among mutual funds, flexible products are still leading the way, with net inflows of over 11 billion euros. Bond funds are also still recording positive inflows, as also balanced funds and stock funds, albeit to a lesser degree.
The strength of the results has also allowed Eurizon Capital to rank high in the European standings: based on Strategic Insight data, between the beginning of the year and May 2015, Eurizon Capital was the second-best Asset Manager in terms of investment inflows in Europe in the long-term funds segment.
The company is strengthening its position not only on the domestic market, but at the international level as well, thanks to an expansion of its sales team and to its presence in different geographical regions, which are contributing positively to overall results.
In Asia, Chinese company Penghua achieved AUM growth in the first six months of the year, reaching €72.7bn.
The Eastern European HUB, made up by Slovakian company VUB Asset Management, which controls the Hungarian firm CIB IFM and the Croatian firm PBZ Invest, is experiencing ongoing growth in assets under management, which stopped just short of €3bn at the end of 1H 2015.
In expressing his satisfaction for the results achieved, Tommaso Corcos, Eurizon Capital SGR’s Chief Executive Officer, also thanked the sales network. Corcos said: “The extraordinary job done by the Intesa Sanpaolo network is one of the main drivers behind company growth, also supported by the increasingly important contribution made by other partners, such as the Private Banking sector, third-party banks, financial brokers, and our institutional and international clients.”