(Finance) – Azimutha group active in managed savings and included in the FTSE MIB, recorded in the month of December 2024 one net collection of 919 million euros, bringing net collection for the full year 2024 to reach 18.3 billion euros (2.7x compared to the end of 2023). This result marks the second best annual performance in the company’s history and significantly exceeds the annual target of 14 billion euros which was updated in July.
The assets managed reach 70.3 billion euros as of 31 December 2024 (2023: 60.6 billion), an increase of 16% compared to the previous year. The savings masses administered they reached €37.2 billion as of December 31, 2024 (2023: €24.9 billion net of the pro-rata adjustment of AZ NGA, or 30.2 billion), despite the effect of the de-consolidation of AZ NGA.
The total massessupported by robust net inflows and a net weighted average performance of 8.88% delivered to customers in 2024, amounted to €107.5 billion as of 31 December 2024 (2023: €85.5 billion net of the adjustment pro-rata of AZ NGA, or 90.8 billion), reflecting solid annual growth of 26%.
“2024 was another year of significant achievements for our Group, with overall collections of 18.3 billion euros, driven by strong growth in all 18 countries in which we operate – commented the CEO Gabriele Blei – Net inflows into managed products, equal to almost 7 billion of which 1.1 billion in private markets, demonstrate our ability to innovate and attract investors looking for tailor-made solutions in a dynamic market”.
“The strategic operations completed over the year, such as Sanctuary Wealth’s acquisition of tru Independence and the addition of 16 financial advisory firms in Australia, have expanded our offering and strengthened our presence globally,” he added. “Additionally, the first exit in the GP Staking business, with the sale of our stake in Kennedy Lewis Investment Management, and the partnership with Oaktree to expand AZ NGA in Australia have already generated concrete results and value for our shareholders. The exclusive agreement signed with FSI marks a further step forward in the reorganization of a part of the Italian network of financial advisors for the creation of a new Wealth Fintech Bank”.