Eurizon Capital ends Q2 with €15bn inflows
Italy’s Eurizon Capital, Intesa Sanpaolo’s asset management unit, attracted positive net inflows for the tenth consecutive quarter.
The asset manager closed the quarter at an overall value of over €15bn.
The uptrend in assets under management continued as a result, with a further 11% expansion since the beginning of the year, supported by the market effect, which placed AUM at €255.4bn at the end of March 2015.
For what concerns the main P&L components, in Q1 2015 consolidated net profits (including minority interests) rose to €96.1m, scoring an 86% increase over the same period in 2014, and fees amounted to €142.8m, up by 62% compared to Q1 2014.
Net inflows in the mutual fund segment leveled off at €8.4bn at the end of March, mostly concentrated on bond funds (€2.4bn), and especially flexible funds (€5.8bn). The contribution made by balanced funds and equity funds was also positive =, whereas money market funds went against the overall trend, confirming a more efficient allocation of resources by savers.
Individual portfolios on the retail market is also attracting keen interest, mostly thanks to the new generation of Eurizon Capital customisable products, which in the quarter accounted alone for over 50% of total inflows to the Italian individual fund management industry in the retail segment, at just short of €5bn in net investments.