Intesa Sanpaolo’s asset management firm Eurizon, reported that its assets under management increased by 6.5% YoY in Q1 2018, amounting to €314.5bn.
Consolidated net income (including income attributable to minority interests) grew 4.2% YoY amounting to €123.2m in Q1 2018.
Eurizon received €3.3bn inflows for the quarter, driven mainly by open-end funds recording €2.7bn, which benefitted from flexible funds’ inflows of over €3bn. Individual portfolios for institutional customers also contributed positively to the result with €1.5bn inflows.
PIR funds’ assets under management topped the list with €2bn as of the end of March after having received €354m since the start of 2018.
The Italian asset manager launched 17 new products in the quarter, of which 14 were Italian funds and the remaining 3 were Luxembourg-domiciled sub-funds.
Eurizon also declared its commitment to responsible investments already highlighted when it introduced the following sub-funds to its Luxembourg product range: the Eurizon Fund – Absolute Green Bonds – launched in January – was the first strategy that managed by an Italian asset manager specialised in international bond markets, allowed to fund projects linked to the environment. The Eurizon Fund – Bond Corporate Smart ESG by its part, is a sub-fund with a quantitative investment approach based on environmental, social, and governance (ESG) factors.
Tommaso Corcos, CEO of Eurizon, said: “In these past few months we have launched new and important partnerships in Italy that required, among other things, extra effort in training and commercial support activities. At the same time, we remain highly focused on international development which continues to represent one of the main objectives of our new business plan.”