Italian asset manager Eurizon saw net inflows of €1.1bn in the first quarter, with a 13.4% jump in AUM to €354bn over the last year to 31 March 2021.
The Intesa Sanpaolo Group-owned asset manager highlighted a continued growth trend for its 49% owned Chinese company Penghua Fund Management with assets totalling €116.2bn, which saw 13% growth since the beginning of the year and 30.7% over the twelve months, to exceed €10bn of net inflows over the quarter.
European countries also grew assets with net inflows exceeding €450m in the first three months of the year.
We are very satisfied with the results achieved in this first quarter of the year. Thanks to the strong collaboration with the Intesa Sanpaolo Group networks, as well as with third-party placement agents and our institutional customers."
In the UK, its first English mutual funds were set up by Eurizon SLJ Capital, aimed at local retail and institutional investors with a focus on management expertise on emerging market bonds and, in particular, on China.
Other product innovations include the creation of new ESG solutions within the offer of the Luxembourg fund Eurizon Fund: a product that invests in Euro corporate green bonds, issued to finance projects related to the environment, and an ESG multi-asset solution.
Eurizon's consolidated net income also rose to €160.8m during the quarter, in excess of a 60% increase over the same quarter last year.
Saverio Perissinotto, chief executive of Eurizon, said: "We are very satisfied with the results achieved in this first quarter of the year. Thanks to the strong collaboration with the Intesa Sanpaolo Group networks, as well as with third-party placement agents and our institutional customers. However, I extend my sincere thanks to the people of Eurizon - added Saverio Perissinotto - for their intensive work at all levels.
"A team of professionals who will soon be empowered by the integration with Pramerica SGR colleagues, with whom we share team values and spirit and with whom we aim to become a single big and strong company."