Eurizon Capital has reported net inflows of some €6bn in the last quarter of 2016, helping boost total annual net inflows for 2016 to some €18bn.
This makes it the biggest mutual fund provider in Europe by inflows, the manager cites Morningstar data.
Together with the launch of 97 products through the year – 59 Italian funds, 31 Luxembourg sub-funds and 7 retail individual portfolios – the manager reports year-end AUM of €290bn, up 9% on the previous year, producing net income of some €358m off commission of some €567m.
Including exposure to the Chinese market via the Penghua business, Eurizon Capital claims additional inflows of some €23bn and assets of some €84bn, taking total assets to some €370bn on this basis.
The manager also notes that its on-the-ground presence has been growing globally. A new branch was opened in Paris over the past year, while a branch in Frankfurt is being prepared. The product range is being prepared for placement into the Swiss market, while partnerships have been contributing to presence in Spain, northern Europe and Latin America. In Hong Kong the local branch has obtained licences required to support business development intended for the first half of 2017.