AUM at the end of December 2013 were €547bn, up from €532bn in 2012. The increase was attributed to a positive net new money inflow that amounted to €12.2bn.
The firm said in light of its 2013 results, its focus for the year ahead will be on growing third party assets through geographical expansion, client segmentation and strengthening its product offering.
Total revenues were up 7% year on year to €1.03bn, due to an increase in management fees and performance fees. Operating income was up by 11% which generated underlying earnings of €172m, up 5% compared with 2012.
Looking ahead at 2014, the company said that it believed that the QE transition period may reach into the next decade and that investors must be prepared to take a long-term view.
“While continuing to leverage our leading position in Europe, we will strengthen our geographical footprint in 2014 with increased investment in regions where we are less visible today such as the Nordics, Asia including Japan, and the Americas,” chief executive Andrea Rossi said.
