Italy’s Aziumut Holding posts €830m net inflows for H1
Italy’s asset management company Azimut Holding posted a 76.5% increase in net profits at the end of the first half of the year, with profits of €79.1m at the end of June.
Revenues were at €214.2m, up from €174 at the end of June 2011.
The company reported €16.5bn of assets under management, and €18.6bn of assets under administration.
During the first half of 2012 Azimut posted €830m net inflows.
Over the period, the company also confirmed 53 hires to its three networks Azimut Consulenza, AZ Investimenti and Apogeo.
“Despite the challenging economic environment, Azimut’s clients had a positive average performance of 5%. The 76% increase in net profits confirms the success of our business model and of our innovation efforts, shown by the launch of new funds such as renminbi opportunities, bond target and global currencies and rates,” said Pietro Giuliani (pictured), chairman and chief executive of the group.