Stéphane Vidal, President of the Primonial group, stated: ” 2020 was obviously unpredictable and therefore complex. As for many business leaders, the physical health and psychological well-being of our employees and their families have been our number one priority, and continue to be so.
It was a year in which agility, the ability to decide and act quickly have been predominant. In this context, the unfailing commitment of our teams to meet our customers’ high expectations in advisory matters, while continuing to further our innovation policy, was also decisive.
The excellent performance of our Financial, Real Estate and Structured Asset Management vehicles, combined with rigorous and attentive customer relations, enabled us to once again surpass the symbolic €10 billion mark in gross inflows.
We hope that 2021 will be synonymous with peace of mind and a return to a more “normal” life. We will continue to capitalise on what we have learned during this crisis, in terms of responsiveness and ingenuity, with the aim of offering the best overall experience to our customers. »
NEW MONEY INFLOWS IN 2020
The Primonial group recorded gross inflows of €10.19 billion in 2020.
ü On behalf of individual customers, through the various distribution channels (direct, indirect and insurance platforms), the Primonial group generated gross inflows of €5.83 billion.
ü On behalf of institutional clients, inflows totalled €4.36 billion in 2020 vs. €4.8 billion in 2019.
Breakdown of gross inflows (€10.19 billion) by product lines:
ü Life insurance gross inflows amounted to €1.29 billion, mainly driven by:
– The continuing success of the Sérénipierre contract, developed with Suravenir, and its two flagship euro funds Sécurité Pierre Euro and Sécurité Flex Euro;
– The ongoing commercial development of the Target+ contract, developed with Oradéa Vie, notably with its dynamic euro funds Sécurité Target Euro and Sécurité Infra Euro;
The overall unit-linked rate (individuals and legal entities) reached 58% in 2020, up by 3 pts.
ü The Direct Real Estate business in France is now carried out entirely through the Leemo platform (in which Primonial holds a 40% stake alongside the FONCIA GROUP). The share of inflows from Primonial’s internal networks totalled €33 million.
· Total new money inflows from UCITS Asset Management amounted €6.15 billion.
Share of new money inflows relating to LFDE accounted for €5,64 billion:
– €1.78 billion for retail investors,
– €3.86 billion for institutional clients.
In 2020, La Financière de l’Echiquier will have surpassed its 2007 high point of €1.4 billion in net inflows, setting a new record for the 30-year-old asset management firm.
The performance effect of the funds, representing €971 million, was added to net inflows to reach assets under management of €12.2 billion on 31.12.2020.
The pace of inflows was steady throughout the year, and we anticipate a solid year in 2021, thanks particularly to the funds’ performance momentum.
- Overall inflows from Real Estate amount to €2.35 billion.
After an extraordinarily dynamic 2019 for the Retail Real Estate market, the annual target set in January 2020 of €2 billion in SCPI/SCI/OPCI inflows was achieved.
The distribution of Primonial REIM’s retail real estate funds, which include SCPI, OPCI and SCI, recorded inflows of €1.89 billion at the end of 2020:
– €971 million spread over the 5 SCPIs;
– €921 million for SCI Capimmo and OPCI PREIMium, real estate unit trusts referenced in a large number of Life insurance policies.
The solid resilience of our vehicles’ performance in 2020, made possible by strategic choices made several years ago anticipating the strong development of healthcare, Core Prime office and residential, strengthens our confidence for our activities in 2021, in a context of very low, risk-free rates.
The Group’s Real Estate Club Deals business totalled €458 million in new money. Logically enough, the flow of Institutional club deals was sharply reduced last year, as investors have been unable to carry out their technical due diligence on assets, and for many months, to visit assets for foreign clients.
We have seen a strong catch-up effect over the last few weeks, which gives us great confidence for Club Deals activities in 2021.
It should be noted that Primonial Luxembourg was able to close its first discretionary “PERF” fund (created in 2019), and successfully launch the “European Social Infrastructure” fund with more than €200 million of equity raised and €400 million of real estate assets (Austria, Germany and France) acquired during the financial year.
The sale of several assets, as part of our annual arbitration policy, in line with our commitment to maintain the high quality of our properties, generated solid capital gains, confirming our targeted investment strategy.
- The Structured Products business under the DS Investment Solutions (DS IS) brand recorded a very good year, raising €345 million, thanks to the team’s strong mobilisation during the months of lockdown to support clients and partners and enable them to seize the opportunities created by the high volatility of financial markets.
Source : PRIMONIAL Group