C-QUADRAT increases fee-generating assets in the second quarter of 2008 against the trend
Vienna/Frankfurt, 10 July 2008 (euro adhoc) -
Fee-generating assets increase against the market trend to EUR 4.8 billion (EUR 4.7 billion as of 31 March 2008)
Stake in the Vienna branch of Privatinvest-Bank sold to 30 June 2008
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C-QUADRAT Investment AG (ISIN AT0000613005) increased its fee-generating assets in the second quarter of 2008 despite difficult market conditions. Fee-generating assets cover asset management, fund brokerage and mediating alternative investments. Of particular note is the fact that the company managed to generate this volume growth solely on the basis of organic growth.
As of 30 June 2008, fee-generating assets of the company totalled EUR 4.8 billion (EUR 4.7 billion as of 31 March 2008). "We are very pleased that we further extended our fee-generating assets in the second quarter, despite extremely difficult market conditions. What is particularly positive is the fact that in our core Asset Management segment we grew organically against the trend. This shows the distribution clout of our company," commented C-QUADRAT Board of Management member and company founder, Alexander Schütz the pleasing result.
The dormant participation of the company in the Vienna branch of Privatinvest-Bank (owned by the Allianz Group) was sold to 30 June 2008. Privatinvest-Bank acquired the 50% stake held by C-QUADRAT Investment AG. The volume of this stake (EUR 213 million as of 30 June) was allocated to the non-core fee-generating assets until 30 June 2008. "We want to concentrate on activities where we can be actively involved in the growth of the individual areas," stated Board of Management member Alexander Schütz on the sale of the dormant participation.
The interim report of the company as of 30 June 2008 will be published on 20 August 2008.
C-QUADRAT- the fund company - is an independent asset manager operating across Europe. Founded in 1991, the company has had is own asset management company with a bank licence since 2003 and has been listed in the Prime Standard of the Frankfurt Stock Exchange since November 2006 and in the Prime Standard of the Vienna Stock Exchange since May 2008. The C-QUADRAT team has made a name for itself across Europe with its asset management, analysis and investment fund management activities and by devising structured products. Innovative investment strategies for institutional investors round off the product offering. Many banks, insurance companies and financial service providers operating internationally rely on the expertise of C-QUADRAT.
end of announcement euro adhoc
Further inquiry note:
Andreas Wimmer
Member of the Board
C-QUADRAT Investment AG
Stubenring 2
A-1010 Wien
Tel.: +43 1 515 66 316
Fax: +43 1 515 66 359
Mail: a.wimmer@investmentfonds.at
Branche: Financial & Business Services
ISIN: AT0000613005
WKN:
Index: Prime.market
Börsen: Börse Frankfurt / official market
Wiener Börse AG / official market