Eurizon, the asset management company of the Intesa Sanpaolo Group, has reported a 2% quarer-on-quarter rise in AUM, to €295.4bn, over its quarter to 31 March, while income from fees and commission rose by 24.5% to €156.8m when compared against the same period last year.
Consolidated net income in the quarter was €118.2m, up 28.5% compared to the first quarter of 2016.
The growth was helped by the launch of new products through the quarter – some 22 Italian funds and 4 Luxembourg sub-funds – which also contributed to the net inflows of some €5bn over the period. In the area of mutual funds, the inflows of some €4.5bn represented about 30% of all net flows to open ended funds in the Italian market, according to Assogestioni figures cited by Eurizon.
Flexible and bond funds accounted for the main share of net inflows, respectively taking in €2.5bn and €2.2bn.
During the quarter, the manager also launched its range of funds compatible with PRI, while work continued on implementing ESG criteria into its full fund range. The manager has also rolled out a new logo and mission statement.
Tommaso Corcos, CEO of Eurizon, said: “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.”