Pioneer Investments: Global net flows of 823 euro million in February

Pioneer Investments: Global net flows of 823 euro million in February
(Data as of 28 February 2006)

Net flows of €823 million were achieved by Pioneer Investments in February. Total Assets under Management reached over €160 billion, an increase of 1.69% compared with the previous month.

Italy saw positive inflows of €650 million during February. Pioneer Mutual funds (Assogestioni perimeter) achieved positive inflows of €337 million, the best result of the system. Market share in Italy increased of 13 basis points since the end of January and stood at 15.74%. Total Assets under Management in Italy at the end of the month stood at €109 billion, an increase of 1.22% compared with the previous month.

The International Division (ex Italy), saw positive flows of €103 million, mainly due to the Spain contribution (€221 million). Total Assets under Management reached €12.3 billion, an increase of 3.91% compared with the previous month.

At the European level continue the very positive results coming from the start of the integration process with HVB. "In February the HVB channels have doubled January net inflows, reaching a record net flow of over €2 billion" - comments Dario Frigerio, Head of Private Banking & Asset Management Division of UniCredito Italiano Group and CEO of Pioneer Global Asset Management.

The US closed the month with negative sales of €62 million, principally caused by the continued volatility in the bond market, in particular in the High Yield sector. Total Assets under Management stood at €33 billion (+1.98% since the end of January); in dollar terms in the same period assets stood at $39.7 billion.

The New Markets division continued its growth trend, with sales of €132 million in the month. The largest contribution came from Poland (€112 million). Total Assets under Management in this division is now over €6 billion, an increase of 4.15% compared with the previous month.

The Alternative Investments division (net flows and AuM data are included in the reported numbers for other divisions) reported positive flows in the month of €26 million. Total Assets under Management in Hedge Funds stood at €4,5 billion, an increase of 3.09% since the end of January.



The data reported in this release has been compiled on provisional numbers, and is, therefore susceptible to change