Eurizon posts 6.5% rise in assets

Italian asset manager Eurizon enjoyed a 6.5% jump in its assets under management (AuM) in the 12 months to March.

The Milan-based firm’s first quarter results published today showed AuM of €314.5 billion compared with €295.4 billion at the end of March 2017.

It also launched 17 products in the first three months of the year.

Eurizon’s total inflows of €2.7 billion into open-ended funds dominated the asset manager’s total inflows of €3.3 billion during the first three months of the year.

There was also an 18% increase in fee and commission income which reached €184.8 million while the firm insisted that its cost/income ratio of 20% was proof of its “exceptional” levels of operating efficiency.

Tommaso Corcos, chief executive officer of Eurizon, said the “cohesiveness and well-established expertise” of the team had enabled it to post another quarter of growth.

©2018 funds europe

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