Strong AUM growth despite tough market
Catella's Q2 report came in 10% shy of ABGSC's expectations on EBIT, but showed stronger-than-expected AUM growth, up 6% q-o-q, driven by completed development projects and an FX tailwind. Overall, the second quarter was negatively impacted by European real estate transaction volumes being at historically low levels. This affects all three business areas, but especially the Corporate finance segment. In the largest segment, Investment management, the low transaction volume reduces the variable income that stems from acquisitions and disposals of assets. However, since the AUM base continues to grow, the underlying fixed fees partially cover the lower variable fee income.
Aktuellt
SENASTE
