Total assets in 2014 reached €30bn (compared to €24bn at the end of 2013) including assets under custody and third parties’ funds (internally managed assets stood at €26.7bn at end-2014 compared to €21.4bn at the end of 2013), Italy’s independent asset management company Azimut has revealed.
Net financial position as of December 31, 2014 came positive at €312.4m.
In 2014 the company paid around €93m ordinary dividends.
In Q4 2014, the group reached an agreement with the Italian tax authority on the composition of all claims defining a total payment, inclusive of higher taxation and applied penalties, of €105.9m (plus interest charges amounting to some €11.9m). In December 2014 the group settled all due payments.
Recruitment of financial advisors and private bankers remained positive: during 2014 Azimut and its networks hired 128 new financial advisors, bringing the total number of FAs to 1524.
The board shall propose to the AGM, which will be called on 30 April 2015, the distribution of a total ordinary dividend for €0.78ps gross of tax (higher than the €0.70ps in 2013) of which a recurrent component for €0.10, and an additional component of €0.68 per ordinary share, with payment date scheduled on May 20th 2015 (ex-dividend date as of May 18th 2015 and record date May 19th 2015).
Net profit of the parent company Azimut Holding SpA in 2014 is of €136.5m vs. €148.5m reported in 2013.
Pietro Giuliani (pictured), Azimut’s Chairman and CEO, commented: “We are proud to present Azimut as the only Italian multinational company in the Asset Management sector, located in 13 countries worldwide, that operates in Italy under an open architecture of products and services offering clients the same choices of a multi-family office, but at an industrial level. All of this by valuing our unique traits and strengths, both on the production and distribution sides.”