Download PR Eurizon Capital - results 2016

PRESS RELEASE
EURIZON CAPITAL: RESULTS AS AT 31 DECEMBER 2016
• Assets under management of 290 billion euro (+9%)
• Net inflows of 2016 over 18 billion euro, of which approximately 6
billion in the last quarter
• Consolidated net income for the period equal to 368 million euro
• Eurizon Capital first in Europe in terms of inflows on mutual funds
(Morningstar source)
• The presence in foreign markets is consolidated
• 97 new products launched in 2016: 59 Italian funds, 31 Luxembourg
sub-funds and 7 retail individual portfolios
Milan, 21 February 2017 - Eurizon Capital, the asset management company of the Intesa
Sanpaolo Group, which specialises in products for retail and institutional customers,
strengthened its position in Italy and abroad in 2016, highlighting positive results in all its
main financial indicators.
Assets under management at the end of December totalled 290 billion euro, up 9%
on the end of 2015, thanks to the significant inflows recorded both on retail and
institutional products.
Consolidated net income (including net income pertaining to minority interests) stands
at 368 million euro, deriving from a commission margin of 567 million euro.
Total net inflows in the twelve months exceed 18 billion euro - of which 6 billion in
the last quarter alone - and account for a third of the inflows of the entire Italian
1/4
industry, according to Assogestioni1 at the end of December. Eurizon Capital stands out
in particular in terms of inflows on institutional portfolio management, with 9 billion in
net revenues, and on mutual funds, with a total of 12.7 billion. The latter converged
mainly on flexible funds totalling 7.4 billion and bond funds for 5.6 billion.
The brand is also consolidated on the international front: Eurizon Capital is the leader
in Europe in terms of inflows on mutual funds according to Morningstar Direct
analyses2.
In China, Penghua ended the year with inflows exceeding 23 billion euro and assets
of approximately 84 billion, bringing the Eurizon Capital perimeter over 370 billion
euro in total. The presence in China was also enhanced in the last quarter of 2016 with
the 20% stake in Yicai, a Wealth Management company belonging to the Intesa Sanpaolo
Group.
On 14 December, Luxembourg Eurizon Capital S.A. completed the purchase of shares of
VUB AM held by VUB Bank and Privredna Banka Zagreb, reinforcing the strategic
partnership between Eurizon Capital and the Group's International Subsidiary Banks
Division. Eurizon Capital S.A. has thus become the sole shareholder of the Intesa
Sanpaolo Group HUB on Eastern European countries which, with inflows of over
220 million euro in the year, totalled assets of 3.5 billion at the end of 2016.
Furthermore Eurizon SLJ Capital LTD, a London-based company operating since last
July, closed 2016 with assets of approximately 8.5 billion euro of management mandates
and advisory services.
In 2016, Eurizon Capital opened a new branch in Paris, launched procedures for the
opening of a branch in Frankfurt and for the placement of its product range in
Switzerland. In Spain, in Northern Europe countries and in Latin America, particularly in
Chile, the brand consolidated its presence, thanks to partnerships with local distributors.
Finally, with its branch in Hong Kong Eurizon Capital obtained the licences to carry out
the management activities planned for the first half of 2017.
1
Source: Assogestioni Map (Q1, Q2, Q3 and Q4 2016).
2
Source: Morningstar Direct Asset Flows Commentary: Europe. Data as at 31 December 2016.
2/4
At the European CEO Awards3, Eurizon Capital was awarded "Best asset management
company in 2016", while the CEO Tommaso Corcos was nominated "Best CEO in
the asset management industry in 2016".
***
Overall, 97 new products were launched in 2016: 59 Italian funds, 31 Luxembourg
sub-funds and 7 retail individual portfolios. New solutions that are targeted at both
institutional and retail customers. Finally, initiatives got underway for the launch of
individual savings plans (PIR) in compliance with the regulations introduced by the
Budget Law, which will allow to channel stable resources to Italian companies, especially
small and medium-sized businesses, while offering investors the opportunity to benefit
from significant tax savings.
***
“2016 – states Tommaso Corcos, CEO of Eurizon Capital - was a year of important
results. Thanks to the cooperation between the networks of distributors and the intense
work done by the Eurizon Capital team - in Italy and abroad - we have confirmed our
ability to compete and grow internationally. In the past twelve months we reached a
record level of assets and launched the largest number of products in the company's
history." He adds: "we intend to continue to strengthen our presence in the markets that
we consider strategic, to be closer to our customers in the international arena with a
constantly evolving offer in order to create value for investors. In particular, with the PIR
compliant solutions, besides bringing benefits to investors, we will give support to the
Italian industrial sector, confirming our role in support of the real economy."
***
3
For more details, see: http://www.europeanceo.com/awards-2016/
3/4
Eurizon Capital SGR is the investment company of the Asset Management Division of the Intesa Sanpaolo Group.
Eurizon Capital SGR has the following subsidiaries: Eurizon Capital S.A. a company specialising in the
management of Luxembourg products, Epsilon SGR, a joint venture between Eurizon Capital SGR (51%) and
Banca IMI (49%), and Eurizon SLJ Capital LTD (65% owned), a joint venture with Stephen Li Jen and Fatih
Yilmaz (35%), founding members of SLJ Macro Partners whose activities were merged into the new company
structure.
Eurizon Capital is present in Eastern Europe through a HUB controlled by Eurizon Capital S.A., which includes
VUB AM, one of the leading asset managers in Slovakia, the Hungarian company CIB IFM and the Croatian asset
manager PBZ Invest.
Eurizon Capital is also present in Asia through its holdings in Penghua Fund Management (49%), among China's
main asset managers and in Yicai (20%), a wealth management company of the Intesa Sanpaolo Group, and through
Eurizon Capital (HK) Limited based in Hong Kong and controlled by Eurizon Capital S.A..
Finally, shareholdings also include the Spanish company Allfunds Bank S.A. (50%), a multimanager distribution
platform for asset management products.
Information for the Media:
Fedra Falanga
Intesa Sanpaolo
Media Relations Wealth Management
+39.02.87965317
[email protected]
Pierantonio Arrighi
Intesa Sanpaolo
Media Relations Wealth Management
+39.02.87963119
[email protected]
4/4