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Report BFA - Bankia 2014 / Bankia’s activitiesAsset management

Investment funds

Assets
€9,700 M (+32.9%)

Unitholders
418,565

Pension funds

Assets
€6,783 M (+6.62%)

Unitholders
764,492

Bankia is the fourth largest spanish financial institution for the management of investment funds, pension plans and sicavs.

Bankia is the fourth largest Spanish financial institution for asset management, which includes management, administration and support for the marketing of Collective Investment Schemes (CIS), pension plans and SICAVs. The group operates this business area through Bankia Fondos and Bankia Pensiones, which supply investment products to the network and jointly manage €16,400 million in assets, rising to €22,700 when combined with the savings managed by the Group in bancassurance products.

Bankia fondos

The investment fund manager Bankia Fondos manages, administers and designs a unique catalogue of funds for the whole Bankia branch network, which consists of 44 discretionary investment funds for retail customers and five funds under the Bankia Private Banking brand, in addition to 51 guaranteed funds.

As at 31 December 2014, Bankia Fondos managed €9,700 million in investment funds, giving it a market share of 4.98%, ranking it sixth in the Spanish market. During the year, assets under management increased by €2,402 million (32.9%), thanks to strong net deposits (€2,129 million) and the upturn in the market. This increase in assets also boosted the market share by 2.4 percentage points.


Bankia raised 2,129 million euros
in funds in 2014.


Bankia focused on selling profiled funds, which accounted for 70% of the total funds sold (€1,485 million). Bankia has three ranges of profiled investment funds – the “Soy Así” funds; the “Evolución” funds, each with three risk profiles; and the traditional range of mixed investment funds. These cover a wide range of customers, from the most conservative, who need to preserve their capital, through to the most resolute customers that are prepared to assume more risk in exchange for higher returns.

In the final part of the year, the management firm launched two guaranteed funds. One fixed income and one equity, designed for customers that particularly value the security of a guaranteed return at maturity. Sales of discretional funds also continued during the year through the “Combinados de Bankia” (deposit + fund).

The bank’s customers enjoyed good results in 2014 with all funds recording positive returns, from monetary funds through to higher risk funds. The Bankia Fonduxo fund remained near the top of its ranking throughout the year with a yield of 13.35%. These excellent returns were based on the strong performance of the stock markets, mainly the Spanish stock market, and of the US dollar and international fixed income markets, especially in peripheral economies. At the same time, guaranteed fixed income funds have recorded once-in-a-lifetime yields in recent years.

In June 2014, the Bankia Gestión de Autor fund was launched for Bankia Private Banking, which as at 31 December had assets of €21.8 million.

Bankia pensions

In pension plans, the Group made significant efforts to encourage long-term savings, stressing the need to set aside savings sufficiently in advance to supplement future state pensions. Pensions advice and simulation tools are the main levers used by Bankia to sell these long-term savings products.

As at 31 December 2014, Bankia had sold a total of €6,783 million in pension funds, giving Bankia a market share of 6.83% and ranking it fourth in Spain according to Inverco.

The pensions business of the management firm Aseval was transferred to the group’s management firm, Bankia Pensiones, during the year. Subsequently in December 2014, the first mergers were begun to definitively restructure the product catalogue, which will be completed in early 2015.

Pension plans for groups (employees and associates) account for 27% of the total assets managed under pension plans. The management firm, together with the control committees, continues to apply socially responsible investment criteria to the management of important groups that represent around 208,670 unitholders. Its future objectives include continuing to develop the application of good environmental, social and governance criteria to the analysis and selection of investments.

As for investment funds, all of the group’s pension plans ended the year in positive territory, especially protected plans with long-term maturities, with a yield of 32.44% in the case of B. Pr. Renta Premium and 26.54% for B. Pr. 2025. There were also significant gains in Spanish equity plans, with a yield of 6.81%, and European equity with 5.25%, which consistently ranked them in the top two positions in their category during the year.

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