EANS-News: C-QUADRAT Investment AG
Half Year Results 2011 of C-QUADRAT
Investment AG
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 6-month report Vienna / Frankfurt (euro adhoc) - Strong increase in management fees from EUR 16.2 million to EUR 23.2 million Personnel expenses reduced from EUR 4.6 million to EUR 3.8 million Net profit for the period amounts to EUR 2.0 million In the first half of 2011, C-QUADRAT Investment AG (ISIN AT0000613005) realized a net profit for the period of EUR 2.0 million. The strong increase in management fees, from EUR 16.2 million to EUR 23.2 million (+ 43%), is a particularly positive result. The management fees are the fees charged for the continuous management of investment funds. The management fees represent the basis of an asset manager´s revenue structure and are the most important indicator for the long-term earnings power of the Company. Besides the growth in assets under management, this strong increase in management fees is mainly attributable to the replacement of institutional assets with retail assets offering higher margins. The significantly higher management fees in the first half of 2011 represent a crucial improvement in the Company´s long-term earnings power. In last year´s semi-annual report, C-QUADRAT previously indicated that the amount of the performance fees may be subject to significant fluctuations, which are also dependent on current stock market events. Due to the weak and volatile stock market environment triggered by the events in Japan and the international debt crisis, performance fees fell in the first half of 2011 from EUR 9.8 million to EUR 0.2 million. C-QUADRAT earns these fees when the investment funds under its management achieve a positive performance beyond a high watermark. These performance fees accordingly fluctuate strongly from quarter to quarter. Personnel expenses dropped from EUR 4.6 million to EUR 3.8 million during the first half of 2011. Other administrative expenses increased from EUR 2.5 million to EUR 2.6 million. Net profit for the period under review amounts to EUR 2.0 million (2010: EUR 8.5 million). C-QUADRAT founder and management board member Alexander Schütz comments: "We were able to generate good results particularly in the retail segment and therefore have high recurring revenues. Thus, we are in a better position than ever before. Successful asset managers can realize extremely strong results in good stock market environments. But it´s more important to achieve good results in a challenging stock market environment as well. We were able to do just that in the first half of 2011. Despite difficult market environments, we believe that we are well positioned for the second half of the year, during which we plan to launch several new and innovative funds on the market." The half year report of C-QUADRAT Investment AG for 2011 can be downloaded immediately from the Investor Relations area on the website www.c-quadrat.at. Further inquiry note: Mag. Andreas Wimmer Member of the Board C-QUADRAT Investment AG Stubenring 2 A-1010 Vienna Tel.: +43 1 515 66 316 E-mail: a.wimmer@investmentfonds.at www.c-quadrat.com end of announcement euro adhoc -------------------------------------------------------------------------------- company: C-QUADRAT Investment AG Stubenring 2 A-1010 Wien phone: +43 1 515 66-0 FAX: +43 1 515 66-159 mail: c-quadrat@investmentfonds.at WWW: www.c-quadrat.at sector: Financial & Business Services ISIN: AT0000613005 indexes: Standard Market Auction stockmarkets: official market: Frankfurt, Wien language: English
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