China “very positive contribution” to Eurizon results

growthItalian fund house Eurizon saw its assets under management (AuM) grow by 2% to reach €309.6 billion during the first quarter of the year. The Milan-based firm made net income of €116.6 million - but it also saw inflows decline by €3 billion, reflecting the “general trend in the industry” as investors turned more prudent, Eurizon said. China made a “very positive contribution” to the first quarter results. Shenzhen-based Penghua Fund Management – which is 49% owned by Eurizon - had inflows of €6.86 billion over the course of the three months and its AuM increased by 17% to €88 billion. A Z-Ben Advisors study called ‘The top 25 foreign firms in China’ reported Eurizon to be the only Italian company in the top 25 foreign asset managers in the Chinese market. The firm also saw assets reach €3.8 billion across its Eastern European businesses. During the quarter, Eurizon launched a European long-term investment fund (Eltif). Called the Eurizon Italian Fund – Eltif, it will finance medium to long-term projects of companies in low capitalisation segments. “In order to face the difficulties that had already emerged in 2018, our team focused their work on strengthening our commitment to offering new products and services to the various customer targets,” said chief executive Tommaso Corcos. The firm also reported that its “sustainable and responsible” funds reached €5.94 billion, an increase of nearly 6% compared to the end of 2018. ©2019 funds global asia

Sponsored Profiles

Sponsored feature: Asset allocators – How do you track your decisions?

Apr 06, 2020

Mark Barry, Head of Asset Allocation at Milestone Group, explores how a simple question can highlight opportunities to automate and streamline your asset allocation investment process.

Sponsored feature: How is DLT changing the global securities services landscape?

Oct 17, 2019

By Jeslyn Tan, global head of product management, securities services, at Deutsche Bank

Sponsored feature: A new base for fund distribution

Oct 16, 2019

To get the most value out of the digitisation of investment fund distribution, a blockchain-based infrastructure is fundamental. By Olivier Portenseigne, Managing Director and Chief Commercial Officer, Fundsquare.

Sponsored profile: Bridging the gap

Mar 11, 2019

Private equity is a core part of the business for Caceis’ Hong Kong office, which looks after clients in China and Europe. David Li, chief executive officer, explains why private equity enjoys strong client demand and how it is being used to fund China’s international infrastructure ambitions.

Executive Interviews

Executive interview: ‘China is the 800-pound gorilla’

Aug 04, 2020

Just over a year into his new role, Wai-Kwong Seck, chief executive officer at Eastspring Investments, discusses his business goals, the Covid-19 pandemic and China.

Executive interview: Understanding geographies

Apr 06, 2020

Margaret Harwood-Jones, co-head financing and securities services at Standard Chartered, shares her insights on platform standardisation, opportunities in Asia and regulatory change to encourage...


Hong Kong roundtable: A ‘fragile Goldilocks situation’

Apr 06, 2020

With the global economy at a crossroads, our panel of experts share their thoughts on the market conditions, geopolitical volatility and growth opportunities. Chaired by Romil Patel in Hong Kong.

Singapore roundtable: A horizon to hold long-term assets

Dec 12, 2019

Panellists discuss the geopolitical fractures concerning asset owners, Singapore as a hub for fintech start-ups and why it makes sense to raise capital from a Variable Capital Company (VCC). Chaired by Romil Patel in Singapore.