Italy’s second-largest fund house Eurizon accrued inflows of €4.9 billion in the first nine months of this year.
According to the Milan-based firm’s third quarter results, assets under management reached €312 billion at the end of September, up 1.5% compared with September 2017.
However, the asset management arm of Intesa Sanpaolo saw consolidated net income for the first three quarters of 2018 drop 3.6% compared with the first nine months of last year to €350 million.
Fee and commission income of €532 million in the nine months to September was up 7% year-on-year.
Eurizon chief executive Tommaso Corcos said that, in a period of high market volatility, the largely positive results “confirm the effectiveness of the strategy” pursued by the company.
“We are continuing to focus our attention on performance, but the main objective is still to be close to our customers, providing support to the distribution networks so that they can guide savers towards informed choices that are not emotionally motivated,” he said.
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