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At 31 December 2016, Bankia had more than 20,100 million euros of assets under management in mutual funds and pension plans. Adding to this the bancassurance activity, total managed funds came to 25,585 million euros.

20,100 million euros

Mutual funds and pension plans
Bankia strengthened its foothold in the mutual funds and pension plans business in 2016 by adapting its offering to prevailing circumstances and offering the most deeply researched advice to customers

Investment funds

Bankia’s mutual fund manager, Bankia Fondos, has 297,336 investors and a broad catalogue of 88 products in all categories (fixed-income, equity, mixed, guaranteed, absolute return, global, etc.), so that customers can choose whichever one best matches their investment preferences. Funds are marketed through Bankia’s branch network and also through remote channels.

At the end of 2016, Bankia Fondos had 13,325 million of assets under management. Of that total, 13,015 million related to mutual funds, up 8.8% compared to 2015. These figures see Bankia ranking fifth among Spanish fund managers, with a 5.53% market share, compared to 5.44% the previous year, according to the Spanish Investment and Pension Fund Association, Inverco.

The biggest demand in 2016 was for guaranteed funds, where subscriptions reached 794 million euros. The best performers in terms of returns were the risk-profiled funds, particularly the ones with the most assets (Bankia Evolución Prudente and Bankia Soy Así Cauto).

The assets under management of the 49 open-ended investment companies (SICAVs) administered by Bankia grew to 289 million euros in 2016 (273 million euros in 2015).

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Pension plans

Bankia believes pension plans are a fundamental tool for encouraging a culture of saving, as they help employees provide for a more secure retirement, especially now that demographic pressure is threatening the sustainability of the public pension system as we know it. This business is therefore important to the bank. Distribution is through the branch network, backed increasingly by the online and mobile channels.

At 31 December 2016 Bankia had 6,842 million euros in personal, employer and associated pension plans (6,863 million euros in 2015) – all of which are tailored as far as possible to the needs of each customer – and 715,679 unitholders. It had a market share of 7.21% in personal pension plans in Spain. The assets were distributed as follows: 21.4% fixed income, 45.9% mixed, 27.3% guaranteed and 5.4% equity.

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Socially Responsible Investment (SRI)

As part of its environmental pledge, Bankia has a provider of socially responsible investment (SRI) services that offers an environmental, social and corporate governance (ESG) analysis of more than 4,500 companies.

This allows Bankia to apply ESG criteria in its investment policies in employer pension plans Furthermore, in 2016 the reach and scope of the ESG analysis of the companies already in the portfolio was extended through an increase in the coverage of available ratings.

To control extra-financial risk, the Asset Management Risk Management Directorate presents and analyses the relevant information in the Risks Committee, and prepares information on the ESG rating of the pension fund portfolios and on the implementation of the ESG rating and its presentation by the Commercial Department to the employer fund control committees.

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