Italian asset manager Eurizon Capital saw its assets under management (AUM) exceed €270bn by the end of March, representing a 6% year on year increase.
The growth was linked to consistent inflows volumes, offsetting the negative trends in the financial markets during the first quarter of the year, the firm said.
Eurizon Capital’s net inflows totaled €4.5bn, with institutional mandates investing around €3.4bn over the period, on the back of contributions driven by insurance.
Mutual fund inflows during the quarter were around €2.4bn and were directed mainly towards bond funds (€1.6bn) and flexible funds (€1.16bn).
Foreign companies also provided a positive contribution. Eastern European HUB recorded net inflows of €31m coming mainly from the Hungarian company CIB IFM, and the Croatian firm PBZ Invest. The Chinese company Penghua ended the quarter with net inflows of €651m.
Eurizon Capital, which is owned by Italian bank Intesa Sanpaolo Group, is pushing its international development through an expanded presence in the various geographic areas that are considered strategic, it said.
The company is also seeing growth potential in product innovation. During the quarter, it launched 15 Italian mutual funds and Luxembourg subfunds, characterised by “a high degree of market diversification, as well as diversification in the strategies used within the same asset class, with specific focus on risk factors”, Eurizon Capital said.
At the same time, Eurizon Capital is focusing on technological innovation and, over the past two years, it has increased the resources to push the level of digital and multimedia service.
“In a very turbulent time for the markets we have continued to achieve positive results in terms of inflows thanks to the strengthened relationships with the sales network in Italy and the expansion of the customer base abroad,” Tommaso Corcos, CEO of Eurizon Capital, said.