FINANCIAL SERVICES

BANCOPOSTA FONDI SPA SGR

BancoPosta Fondi SpA SGR continued to carry out activities regarding Collective Investment Undertakings – UCIs and the Individual Investment Portfolio service in 2014.

Total assets under management in relation to the company's lines of business (individual and collective investment services) amount to €62.2 billion at 31 December 2014 (up €16.3 billion or 36% on the end of 2013).
Regarding the investment portfolio management service provided to the Poste Vita Insurance Group, total assets under management at 31 December 2014 amount to €57.2 billion (€41.1 billion at 31 December 2013, up 39%).
Regarding collective investment services, total assets under management at 31 December 2014 amount to €5.0 billion (€4.8 billion at the end of 2013, up 6%). Figures regarding total assets at 31 December 2014 do not include third-party UCIs, which were settled during the year as they had reached maturity (approximately €0.2 billion). The gross inflow amounted to 1,704 million, compared with €2,148 million in the previous year. Redemptions amounted to €1,412 million, slightly above the €1,387 million registered in 2013.
Stripping out the above third-party UCIs, the performances of gross inflows and redemptions resulted in a net inflow of €292 million (€761 million at 31 December 2013).
The principal contribution to total gross inflows during 2014 was from bond funds (€521 million, accounting for 30.6% of total inflows), followed by buy-and-hold funds (€486 million, accounting for 28.5% of total inflows), balanced funds (€459 million, 26.9% of total inflows), equity funds (€146 million, 8.6% of total inflows) and the new closed-end balanced bond fund (€89 million, 5.2% of total inflows). Redemptions were concentrated in traditional bond funds (approximately 75% of the total).
The company reports a profit of €14 million for the year (€11 million in 2013).