Mar 21, 2023

03/21/2023 | 02:46pm EDT Message : *Required fields (Alliance News) - Solutions Capital Management SIM Spa announced Tuesday that it has approved draft financial statements as of Dec. 31, 2022, which closed with a loss of EUR796,000 from a loss of EUR271,000 in the same period in 2021. Commission income amounted to over EUR6.2 million, broadly in line with the previous year when it amounted to EUR6.3 million, despite the absence, due to market dynamics in 2022, of performance fees, which had weighed in at around EUR2 million in 2021. Net interest and other banking income was close to EUR3.6 million, down 6 percent from EUR3.9 million in 2021, due to the trend in commission margin and average retrocession to the sales network. 2022 shows positive adjusted net inflows of more than EUR5 million-not taking into account the closures of inactive Mifid and generic advisory relationships-with an excellent result for asset management, which recorded inflows of EUR32 million, the company explained in a note. Net assets stood at EUR2.2 million, up from EUR3 million in the previous year. On Tuesday, Solutions Capital Management SIM closed flat at EUR3.32 per share. By Claudia Cavaliere, Alliance News reporter