Anima Holding: negative net inflows in January


From Mariangela Tessa
February 8, 2024 08:18

Anima’s year 2024 starts on the wrong foot. The Italian asset manager The company, listed on Euronext Milan, announced that the Net collection of savings under management in January 2024 (except insurance delegations from industry I) it was negative for 470 million euros (+34 million euros in January 2023). At the end of January 2024, the group’s total assets under management amounted to 191.3 billion euros compared to 182.4 billion euros a year ago.

“In January we recorded an excellent trend in collections of Anima products among retail customers, which amounted to around 200 million for the month, a significant improvement compared to the recent past – commented CEO Alessandro Melzi d’Eril – As in previous months, this trend is obscured by the leaks in the underlying assets of the Anima funds, a visible phenomenon but one that is of little relevance to us from a profitability perspective.”

Within net inflows, the underlying funds recorded -472 million euros (versus -15 million euros in January 2023).

How 2023 went

The January survey data arrives the day after the publication of the results for 2023, the year in which the results of the newly acquired Castello SGR were taken into account as of the date of completion of the acquisition (July 19, 2023). During the whole year, the parent company ANIMA Holding recorded a Net profit of 170.2 million euros Decrease compared to 263.7 million euros in 2022. The company has also brought forward the distribution of a dividend of 0.25 euros for each ordinary share, before deduction of statutory retentions, payable from May 22, 2024 (with ex-dividend – Date, coupon date May 20, 2024). 2024 and deadline May 21, 2024).

Below we report the most important results:

  • Net collection it amounted to -171 million euros (-4.1 billion euros including class I insurance delegations);
  • The Total assets managed At the end of December 2023, it increased to 191.5 billion euros thanks to the contribution of Castello SGR (3.8 billion euros at the time of acquisition) and the positive management performance;
  • The Net management fees amounted to 290.5 million euros (+1% compared to 289.0 million euros in 2022, -2% on a comparable basis), while the Incentive commissions they reached 34.9 million euros (compared to 16.6 million euros in 2022).
  • The Total revenue they increased to 368.0 million euros (plus 7% compared to 343.0 million euros in 2022, +4% less Castello SGR);
  • The normal operating costs They amounted to 102.0 million euros, an increase of 16% compared to 87.7 million euros in 2022: about seven points increase is due to the change in scope. The ratio between costs and total net revenue, excluding incentive commissions from the latter, was 30.6%;
  • L’Profit before taxes reached 219.8 million euros (up 19% compared to 185.0 million euros in 2022, +17% on a like-for-like basis), while theNet income it amounted to 149.3 million euros (+24% compared to 120.8 million euros in 2022, +22% excluding Castello SGR).
  • L’normalized net profit (excluding extraordinary and/or non-monetary costs or income, including amortization of finite-lived intangible assets) amounted to 184.7 million euros (+19% compared to 155.7 million euros in 2022, +17). % on a comparable basis).
  • consolidated net financial position As of December 31, 2023, it was negative (net debt) at 13.2 million euros (compared to 60.9 million euros of net debt at the end of the 2022 financial year) and reflects in particular the dividend payment of 71 million euros, the cost of the Acquisition of Castello SGR in the amount of 62 million euros and 45 million euros from the acquisition of own shares.

Mariangela Tessa | Wall Street Italy

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